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COMMITMENT FO>I TITLE INSURANCE
Issued by Lawyers Title Insurance Corporation
111 LandAmerica Lawyers Title Insurance Corporation is a member of the LandAmerica family of title insurance underwriters.
Lawyers Title
THE FOLLOWING COMMITMENT FOR TITLE INSURANCE IS NOT VALID UNLESS YOUR NAME AND
THE POLICY,AMOUNT ARE SHOWN IN SCHEDULE A, AND OUR AUTHORIZED REPRESENTATIVE
HAS COUNTERSIGNED BELOW.
We (LAWYERS TITLE INSURANCE CORPORATION)will issue our title insurance policy or policies (the
Policy) to You (the proposed insured) upon payment of the premium and other charges due, and
compliance with the requirements in Schedule B and Schedule C. Our Policy will be in the form approved '
by the Texas Department of Insurance at the date of issuance, and will insure your interest in the land
described in Schedule A. The estimated premium for our Policy and applicable endorsements is shown
on Schedule D. There may be additional charges such as recording fees, and expedited delivery
expenses.
This Commitment ends ninety (90) days from the effective date, unless the Policy is issued sooner, or
failure to issue the Policy is our fault. Our liability and obligations to you are under the express terms of
this Commitment and end when this Commitment expires.
LAWYERS TITLE INSURANCE CORPORATION
cell', By: ,( �t L
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y i • 221, President
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`�t1% aoSecretary
Authorized Signatory
CONDITIONS AND STIPULATIONS
1. If you have actual knowledge of any matter which may affect the title or mortgage covered by this
Commitment, that is not shown in Schedule B, you must notify us in writing. If you do not notify us in
writing, our liability to you is ended or reduced to the extent that your failure to notify us affects our
liability. If you do notify us, or we learn of such matter, we may amend Schedule B, but we will not be
relieved of liability already incurred.
2. Our liability is only to you, and others who are included in the definition of Insured in the Policy to be
issued. Our liability is only for actual loss incurred in your reliance on this Commitment to comply with
its requirements, or to acquire the interest in the land. Our liability is limited to the amount shown in
Schedule A of this Commitment and will be subject to the following terms of the Policy: Insuring
Provisions, Conditions and Stipulations, and Exclusions.
Page 1
Commitment For Title Insurance-T-7
Form 1177-15 (Rev.04/04/02) ORIGINAL Valid only If Schedules A,B and C are attached
COMMITMENT FOR TITLE INSURANCE
SCHEDULE A
Effective Date: Apri116,2007, 7:00 am G.F.No.or File No. S29770
Commitment No. issued: May 14,2007, 11:33 am
(if applicable)
1. The policy or policies to be issued are:
(a) OWNER POLICY OF TITLE INSURANCE(Form T-l)
(Not applicable for improved one-to-four family residential real estate)
Policy Amount: $123,493.00
PROPOSED INSURED: CopperPointe Partnership
(b) TEXAS RESIDENTIAL OWNER POLICY OF TITLE INSURANCE-
ONE-TO-FOUR FAMILY RESIDENCES(Form T-1R)
Policy Amount:
PROPOSED INSURED:
(c) MORTGAGEE POLICY OF TITLE INSURANCE(Form T-2)
Policy Amount:
PROPOSED INSURED:
Proposed Borrower:
(d) TEXAS SHORT FORM RESIDENTIAL MORTGAGEE POLICY OF TITLE INSURANCE(Form T-2R)
Policy Amount:
PROPOSED INSURED:
Proposed Borrower:
(e) MORTGAGEE TITLE POLICY BINDER ON INTERIM CONSTRUCTION LOAN(Form T-13)
Binder Amount:
PROPOSED INSURED:
Proposed Borrower:
(f) OTHER 1 y
Policy Amount:
PROPOSED INSURED:
2. The interest in the land covered by this Commitment is: Fee Simple
3. Record title to the land on the Effective Date appears to be vested in:
CRESCENT POINTE,LTD.
4. Legal description of the land:
Being a portion of Lot 1R,Block 1,of the Replat of Lots 1&2,Block 1,Lots 1,3,5&9,Block 2,Lots 1,5&Park,
Block 3, CRESCENT POINTE PHASE 2, an addition to the City of College Station, Brazos County, Texas,
according to the Replat recorded in Volume 7604,Page 278,Official Records of Brazos County,Texas.Said portion
being more particularly described by metes and bounds to be provided:
NOTE: The Company is prohibited from insuring the area or quantity of the land described herein. Any statement
in the above legal description of the area or quantity of land is not a representation that such are or quantity is
correct,but is made only for informational and/or identification purposes and does not override Item 2 of Schedule
B hereoL
Lawyers Title Insurance Corporation /� Page 1
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COMMITMENT FOR TITLE INSURANCE
SCHEDULE B
EXCEPTIONS FROM COVERAGE
In addition to the Exclusions and Conditions and Stipulations, your Policy will not cover loss, costs, attorneys' fees, and expenses
resulting from:
1. The following restrictive covenants of record itemized below(We must either insert specific recording data or delete this
exception):
PLAT: Volume 7604,Page 278,Official Records of Brazos County,Texas.
RESTRICTIONS: VOLUME 7515, PAGE 176, AND VOLUME 7692, PAGE 280, BOTH OF THE OFFICIAL
RECORDS OF BRAZOS COUNTY,TEXAS.
NOTE: TO THE EXTENT THAT THESE RESTRICTIONS VIOLATE 42 USC 3604 (c) BY INDICATING A
PREFERENCE, LIMITATION OR DISCRIMINATION BASED ON RACE, COLOR, RELIGION, SEX,
HANDICAP, FAMILIAL STATUS OR NATIONAL ORIGIN, SUCH RESTRICTIONS ARE HEREBY
OMITTED.
2. Any discrepancies, conflicts, or shortages in area or boundary lines, or any encroachments or protrusions, or any
overlapping of improvements. Upon Company's receipt, review and approval of a current land title survey, and
payment of any promulgated premium,this item can be amended to read in its entirety'shortages in area'."
3. Homestead or community property or survivorship rights, if any, of any spouse of any insured. (Applies to the Owner
Policy only).
4. Any titles or rights asserted by anyone, including, but not limited to, persons, the public, corporations, governments or
other entities,
a. to tidelands,or lands comprising the shores or beds of navigable or perennial rivers and streams, lakes,bays, gulfs
or oceans,or
b. to lands beyond the line of harbor or bulkhead lines as established or changed by any government,or
c. to filled-in lands,or artificial islands,or
d. to statutory water rights,including riparian rights,or
e. to the area extending from the line of mean low tide to the line of vegetation,or the rights of access to that area or
easement along and across that area.
(Applies to the Owner Policy only.)
5. Standby fees,taxes and assessments by any taxing authority for the year 2007,and subsequent years;and subsequent taxes
and assessments by any taxing authority for prior years due to change in land usage or ownership, but not those taxes or
assessments for prior years because of an exemption granted to a previous owner of the property under Section 11.13,
Texas Tax Code, or because of improvements not assessed for a previous tax year. (If Texas Short Form Residential
Mortgagee Policy (T-2R) is issued, that policy will substitute "which become due and payable subsequent to Date of
Policy"in lieu of"for the year and subsequent years.")
6. The terms and conditions of the documents creating your interest in the land.
Lawyers Title Insurance Corporation Page 1
Continuation of Schedule B G.F.No.S29770
7. Materials furnished or labor performed in connection with planned construction before signing and delivering the lien
document described in Schedule A,if the land is part of the homestead of the owner. (Applies to the Mortgagee Title
Policy Binder on Interim Construction Loan only,and may be deleted if satisfactory evidence is furnished to us before a •9r
binder is issued.)
8. Liens and leases that affect the title to the land,but that are subordinate to the lien of the insured mortgage. (Applies to
Mortgagee Policy(T-2)only.)
9. The Exceptions from Coverage and Express Insurance in Schedule B of the Texas Short Form Residential Mortgagee --
Policy(T-2R). (Applies to Texas Short Form Residential Mortgagee Policy(T-2R)only. Separate exceptions 1 through 8
of this Schedule B do not apply to the Texas Short Form Residential Mortgagee Policy(T-2R).
10. The following matters and all terms of the documents creating or offering evidence of the matters(We must insert matters
or delete this exception.):
a. Building setback lines per City of College Station Ordinance,as shown and noted on the Replat recorded In
Volume 7604,Page 278,and as set out in the Restrictions recorded in Volume 7515,Page 176,both of the
Official Records of Brazos County,Texas.
b. This policy does not insure title to any oil,gas and/or minerals,in,on and under the property herein
described.
c. The tax certificate furnished by the taxing authorities is on real estate only;it does not include mineral or
personal property. Therefore,no liability is assumed herein for the payment of said mineral and/or personal
•
property taxes.
d. Maintenance charges,dues and assessments,and the lien create therein,as set out in Volume 7515,Page 176,
Official Records of Brazos County,Texas. Said lien is subordinate to purchase and/or improvement liens,as
therein provided.
e. *Mineral reservation and Waiver of Surface Use contained in Deed executed by Bert Wheeler's Inc.to
Republic National Bank of Dallas,dated March 9,1979,recorded in Volume 419,Page 496,Deed Records of
Brazos County,Texas.
f. *Mineral reservation contained in Deed executed by Republic National Bank of Dallas to Texas Instruments
Incorporated,dated May 7,1979,recorded in Volume 424,Page 672,Deed Records of Brazos County,Texas.
g. *Mineral Deed executed by Bert Wheeler's,Inc.to M.D.Wheeler,Ltd.,dated December 19th,1997,
recorded in Volume 3007,Page 327,Official Records of Brazos County,Texas.
h. *Declaration and Memorandum of Lease executed by Bert Wheeler's Inc.,et al,to Amalgamated Bonanza 1,t
Petroleum,Ltd.,dated June 1,1977,recorded in Volume 378,Page 325,Deed Records of Brazos County,
Texas(5-year primary term);Amendment to Oil,Gas and Mineral Lease,recorded on September 16,1981,
recorded in Volume 41,Page 420,Oil&Gas Records of Brazos County,Texas;Partial Release of Surface
Rights executed by Amalgamated Bonanza Petroleum,Ltd.,dated January 15,1979,recorded in Volume 97,
Page 312,Release Records of Brazos County,Texas.
}. *Oil,Gas and Mineral Lease executed by Bert Wheeler's Inc.,et al,to J.L.Schneider and Company,dated
April 5,1991,recorded in Volume 1248,Page 279,Official Records of Brazos County,Texas(3-year primary
term). Amendment of Oil,Gas,and Mineral Lease,dated February 26,1992,recorded in Volume 1439,Page
74;Amendment of Oil,Gas and Mineral Lease,dated February 27,1992,recorded in Volume 1439,Page 69,
both of the Official Records of Brazos County,Texas.
Lawyers Title Insurance Corporation Page 2
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Continuation of Schedule B G.F.No.S29770
J. *Correction of Lease Description and Ratification of Oil and Gas Lease from Bert Wheeler's,Inc.,et alto
Union Pacific Resources Company,Pat Baker,d/b/a Baker Exploration Company,Raymond F.Sebastian, ;
and Bridwell Oil Company,dated July 14,1992,recorded in Volume 1579,Page 280,Official Records of ,
Brazos County,Texas.
*Title to said interest has not been investigated subsequent to the date of the aforementioned instrument.
k. Rights of parties in possession. (Owner's Title Policy) ..,.,.
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Lawyers Title Insurance Corporation Page 3
COMMITMENT FOR TITLE INSURANCE
SCHEDULE C
Your Policy will not cover loss, costs, attorneys' fees, and expenses resulting from the following requirements that will appear as
Exceptions in Schedule B of the Policy,unless you dispose of these matters to our satisfaction,before the date the Policy is issued:
1. Documents creating your title or interest must be approved by us and must be signed,notarized and filed for record.
2. Satisfactory evidence must be provided that:
a. no person occupying the land claims any interest in that land against the persons named in paragraph 3 of Schedule
A,
b. all standby fees,taxes,assessments and charges against the property have been paid,
c. all improvements or repairs to the property are completed and accepted by the owner, and that all contractors,
subcontractors,laborers and suppliers have been fully paid,and that no mechanic's,laborer's or materialmen's liens
have attached to the property,
d. there is legal right of access to and from the land,
e. (on a Mortgagee Policy only)restrictions have not been and will not be violated that affect the validity and priority
of the insured mortgage.
3. You must pay the seller or borrower the agreed amount for your property or interest.
4. Any defect,lien or other matter that may affect title to the land or interest insured,that arises or is filed atter the effective
date of this Commitment.
5. We will require tax certificates on the subject property showing all taxes paid up to and including the year 2006.
6. Obtain and file for record a partial release of vendor's lien retained in Deed executed by CSL of Texas,Inc.,a Texas
Corporation,to College Main Apartments,Ltd.,a Texas partnership,dated December 15,1999,recorded in Volume
3687,Page 258, Official Records of Brazos County,Texas; and additionally secured by a Deed of Trust executed by
College Main Apartments, Ltd., a Texas limited partnership to Timothy M. Bryan, Trustee, for the benefit of First
National Bank Bryan, dated December 15, 1999, recorded in Volume 3687, Page 274, Official Records of Brazos
County,Texas(in the amount of$3,266,400.00).
7. Modification and/or Extension Agreement by and between College Main Apartments, Ltd., a Texas Limited
Partnership and First National Bank of Bryan dated January 9, 2002,recorded in Volume 4465,Page 131, Official
Records of Brazos County,Texas.
8. Modification and/or Extension Agreement by and between College Main Apartments, Ltd., a Texas Limited
Partnership and First National Bank of Bryan dated December 15,2003,recorded in Volume 5860,Page 273,Official
Records of Brazos County,Texas.
9. Modification and/or Extension Agreement by and between College Main Apartments, Ltd., a Texas Limited
Partnership and First National Bank of Bryan dated April 30, 2005, recorded in Volume 6691, Page 198, Official
Records of Brazos County,Texas.
10. Warranty Deed with Vendor's Lien executed by College Main Apartments, Ltd., a Texas limited partnership, to
Crescent Pointe, Ltd., a Texas limited partnership, dated February 10, 2003, recorded in Volume 5115, Page 10,
Official Records of Brazos County,Texas,and additionally secured by a Deed of Trust executed by Crescent Pointe,
Ltd., a Texas partnership to Christopher J. Smitherman, Trustee, for the benefit of J Fred Bayliss, Qualified
Intermediary for College Main Apartments,Ltd.,a Texas limited partnership,dated February 10,2003,recorded in
Lawyers Title Insurance Corporation Page 1
)
Continuation of Schedule C G.F.No.S29770
Volume 5115,Page 15,Official Records of Brazos County,Texas(in the amount of$2,400,000.00).
11. Transfer of Lien from J.Fred Bayliss, Qualified Intermediary for College Main Apartments,Ltd., to College Main
Apartments, Ltd., a Texas limited partnership, dated August 9, 2003, recorded in Volume 5922, Page 30, Official
Records of Brazos County,Texas.
12. Deed of Trust to Secure Assumption fromi dated Crescent te,l0,td,a 2003, reas cordedted in Vofumership to 5115,Page22,
e Main
Apartments,Ltd., a Texas limited partnership February
Records of Brazos County,Texas;
13. Obtain and file for record a Deed from Crescent Pointe, Ltd., a Texas limited partnership, a Texas limited
partnership,executed by the appropriate partner(s),vesting title in the buyer(s). A copy of the partnership agreement
and all amendments thereto showing authority to execute Deed and whether there is any provision requiring consent
of the limited partners for the general partners to act needs to be submitted for approval prior to closing.
14. We will require a copy of the Certificate of Limited Partnership issued by the Secretary of State.
15. Verify the status of Copperpointe Partnership,whether it is incorporated,a limited liability company,a partnership
or single proprietorship, acting under an assumed name, and submit information toexaminer
inerrso that fu and
er
rrequirements may be made, OR, Company must ascertain the nature of the Copperpointe p, entity
require the appropriate documents to support the instant transaction.
WE RESERVE
16. RI WILL REQUIRE ADDITIES ONAL EXCND EPTIONS TIIDESCRIPTION OF SUBJECT ONS AND/OR REQUIREMENTS AFTER EXAMINATION OF
RIGHT TO MAKE
SAME.
17. Note to all Buyers,Sellers,Borrowers,Lenders and all parties interested in the transaction by this Commitment. The
following constitutes major changes in the procedures and requirements for disbursement of funds by the Title Agent
pursuant to this transaction: Effective August 1,1998,the State Board of Insurance has adopted Procedural Rule P-
27 which requires that"Good Funds"be received and deposited before a Title Agent may disburse from its trust fund
account. The term"Good Funds"is defined as:
(1) Cash or wire transfers; (2) Certified funds, including certified checks and cashier's checks; (3)Uncertified funds
from amounts less than $1,500.00, including checks, traveler's checks, money orders and negotiable orders of
withdrawal; provided multiple items shall not be used to avoid the$1,500.00 limitation; and (4) Uncertified funds in
amounts of$1,500.00 or more,drafts and any other items when collected by the financial institution.
Countersigned
Lawyers Title Company of Brazos Cqunty
Y
g:14'2 Via-gt4c.
uthorized Countersignature
Lawyers Title Insurance Corporation Page 2
i 1
COMMITMENT FOR TITLE INSURANCE
SCHEDULE D
G.F.No.or File No. 529770 Effective Date:April 16,2007, 7:00 am
Pursuant to the requirements of Rule P-21,Basic Manual of Rules, Rates and Forms for the writing of Title Insurance in the State of
Texas,the following disclosures are made:
1. The following individuals are directors and/or officers,as indicated,of the Title Insurance Company issuing this Commitment
President and Chief Operating Officer Directors Directors
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Janet A.Alpert Janet A.Alpert William H.Goodwyn,Jr.
Secretary Kenneth Astheimar Russell W.Jordan,III
John M.Carter G.William Evans Charles W.Keith
Senior Vice President,Treasurer Charles H.Foster,Jr.
and Chief Financial Officer
G.William Evans
2. THE FOLLOWING DISCLOSURES ARE MADE BY THIS TITLE INSURANCE AGENT ISSUING THIS
COMMITMENT:
SHAREHOLDER,PRESIDENT&DIRECTOR: JAY DON WATSON
SHAREHOLDER,VICE PRESIDENT&DIRECTOR: BILLY M.PAYNE
SHAREHOLDER,VICE PRESIDENT,SECRETARY,TREASURER&DIRECTOR: WALTER S CAMPBELL
SHAREHOLDER,VICE PRESIDENT&DIRECTOR: LOUIS A.MALECHEK llI
3 You are entitled to receive advance disclosure of settlement charges in connection with the proposed transaction to which this
commitment relates. Upon your request, such disclosure will be made to you. Additionally, the name of any person, firm or
corporation receiving any sum from the settlement of this transaction will be disclosed on the closing or settlement statement.
You are further advised that the estimated title premium'is:
Owners Policy $968.00
Mortgagee Policy $0.00
Total $968.00
Of this total amount: 15%will be paid to the policy issuing Title Insurance Company: 85%will be retained by the issuing
Title Insurance Agent;and the remainder of the estimated premium will be paid to other parties as follows:
Amount. To Whom For Services
35.00% Pierce P.Stacy,III Closing Services
'The estimated premium is based upon information furnished to us as of the date of this Commitment for Title
Insurance. Final determination of the amount of the premium will be made at closing in accordance with the Rules and Regulations
adopted by the State Board of Insurance.
This commitment is invalid unless the insuring provisions and Schedules A,B,and C are attached
Lawyers Title Insurance Corporation Page 1
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DELETION OF AFJTRATION
Issued by Lawyers Title Insurance Corporation
gaLandAmerica Lawyers Title Insurance Corporation is a member of the LandAmerica family of title insurance underwriters.
Lawyers Title
DELETION OF ARBITRATION PROVISION
(Not applicable to the Texas Residential Owner Policy)
ARBITRATION is a common form of alternative dispute resolution. It can be a quicker and cheaper
means to settle a dispute with your Title Insurance Company. However, if you agree to arbitrate, you give
up your right to take the Title Company to court and your rights to discovery of evidence may be limited In
the arbitration process. In addition, you cannot usually appeal an arbitrator's award.
Your policy contains an arbitration provision (shown below). It allows you or the Company to
require arbitration If the amount of insurance is$1,000,000 or less. If you want to retain your right
to sue the Company in case of a dispute over a claim,you must request deletion of the arbitration
provision before the policy is Issued. You can do this by signing this form and returning it to the
Company at or before the closing of your real estate transaction or by writing to the Company.
The arbitration provision in the Policy is as follows:
"Unless prohibited by applicable law or unless this arbitration section is deleted by
specific provision in Schedule B of this policy, either the Company or the Insured may
demand arbitration pursuant to the Title Insurance Arbitration Rules of the American
Arbitration Association. Arbitrable matters may include, but are not limited to, any
controversy or claim between the Company and the Insured arising out of or relating to
this Policy, and service of the Company in connection with its issuance or the breach of a
policy provision or other obligation. All arbitrable matters when the Amount of Insurance
is $1,000,000 or less SHALL BE arbitrated at the request of either the Company or the
Insured, unless the Insured is an individual person (as distinguished from a corporation,
trust, partnership, association or other legal entity). All arbitrable matters when the
Amount of Insurance is in excess of $1,000,000 shall be arbitrated only when agreed to
by both the Company and the Insured. Arbitration pursuant to this Policy and under the
Rules in effect on the date the demand for arbitration is made or, at the option of the
Insured, the Rules in effect at the Date of Policy shall be binding upon the parties. The
award may include attorneys'fees only if the laws of the state in which the land is located
permit a court to award attorneys' fees to a prevailing party. Judgment upon the award
rendered by the Arbitrator(s)may be entered in any court having jurisdiction thereof.
The Law of the situs of the land shall apply to any arbitration under the Title Insurance
Arbitration Rules.
A Copy of the Rules may be obtained from the Company upon request."
I request deletion of the Arbitration provision.
Signature Date
TEXAS TITLE INSURANCE INFORMATION
Title insurance insures you against loss resulting from certain risks to your title.
The commitment for Title Insurance is the title insurance company's promise to issue the title insurance policy. The
commitment is a legal document. You should review it carefully to completely understand it before your closing date.
El seguro de titulo le asegura en relacion a perdidas resultantes de ciertos riesgos que pueden afectar el tituto de su
propiedad.
. El Compromiso para Seguro de Titulo es la promesa de la companfa aseguradora de titulos de emitir la poliza de seguro
de titulo. El Compromiso es un documento legal. Usted debe leerlo cuidadosamente y entenderlo comptetamente antes
de Is fecha para finalizar su transaccion.
Your Commitment for Title Insurance is a legal contract between you and us. The Commitment is not an opinion or report of
your title. It is a contract to issue you a policy subject to the Commitment's terms and requirements.
Before issuing a Commitment for Title insurance(the Commitment)or a Title Insurance Policy(the Policy),the Title Insurance
Company (the Company) determines whether the title is insurable. This determination has already been made. Part of that
determination involves the Company's decision-to insure the title except for certain risks that will not be covered by the Policy.
Some of these risks are listed in Schedule B of the attached Commitment as Exceptions. Other risks are stated in the Policy
as Exclusions. These risks will not be covered by the Policy.
Another part of the determination involves whether the promise to insure is conditioned upon certain requirements being met.
Schedule C of the Commitment lists these requirements that must be satisfied or the Company will refuse to cover them. You
may want to discuss any matters shown in Schedules B and C of the Commitment with an attorney. These matters will affect
your title and your use of the land.
When your Policy is issued,the coverage will be limited by the Policy's Exceptions, Exclusions and Conditions,defined below.
- EXCEPTIONS are title risks that a Policy generally covers but does not cover in a particular instance. Exceptions are
shown on Schedule B or discussed in Schedule C of the Commitment. They can also be added if you do not comply with
the Conditions section of the Commitment. When the Policy is issued,all Exceptions will be on Schedule B of the Policy.
- EXCLUSIONS are title risks that a Policy generally does not cover. Exclusions are contained in the Policy but not
shown or discussed in the Commitment.
-CONDITIONS are additional provisions that qualify or limit your coverage. Conditions include your responsibilities and
those of the Company. They are contained in the Policy but not shown or discussed in the Commitment. The Policy
Conditions are not the same as the Commitment Conditions.
You can get a copy of the policy form approved by the State Board of Insurance by calling the Title Insurance Company at
1-800-442-7067 or by calling the title insurance agent that issued the Commitment. The State Board of insurance may revise
the policy form from time to time.
You can also get a brochure that explains the policy from the Texas Department of Insurance by calling 1-800-252-3439.
Before the Policy is issued,you may request changes in the policy. Some of the changes to consider are:
- Request amendment of the "area and boundary" exception (Schedule B, paragraph 2). To get this amendment, you
must furnish a survey or comply with other requirements of the Company. On the Owner Policy, you must pay an
additional premium for the amendment. If the survey is acceptable to the Company and if the Company's other
requirements are met, your Policy will insure you against loss because of discrepancies or conflicts in boundary lines,
encroachments or protrusions, or overlapping of improvements. The Company may then decide not to insure against
•
specific boundary or survey problems by making special exceptions in the Policy. Whether or not you request
amendment of the "area and boundary" exception, you should determine whether you want to purchase and review a
survey if a survey is not being provided to you.
-Allow the Company to add an exception to`rights of parties in possession." If you refuse this exception,the Company or
the title insurance agent may inspect the property. The Company may except to and not insure you against the rights of
specific persons,such as renters,adverse owners or easement holders who occupy the land. The Company may charge
you for the inspection. if you want to make your own inspection,you must sign a Waiver of inspection form and allow the
Company to add this exception to your Policy.
The entire premium for a Policy must be paid when the Policy is issued. You will not owe any additional premiums unless you
want to increase your coverage at a later date and the Company agrees to add an Increased Value Endorsement.
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