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HomeMy WebLinkAboutTitle Insurance COMMITMENT FOR TITLE INSURANCE Issued By First American Title Insurance Company SCHEDULE A Effective Date: January 22,2014,08:00 a.m. GF No. 140447 Commitment issued: February 3,2014 1. The policy or policies to be issued are: (a) OWNER'S POLICY OF TITLE INSURANCE(Form T-1) (Not applicable for improved one-to-four family residential real estate) Policy Amount: PROPOSED INSURED: (b) TEXAS RESIDENTIAL OWNER'S POLICY OF TITLE INSURANCE -ONE-TO-FOUR FAMILY RESIDENCES (Form T-1R) Policy Amount: $425,000.00 PROPOSED INSURED: Richard Lemons and/or assigns (c) LOAN POLICY OF TITLE INSURANCE(Form T-2) Policy Amount: $340,000.00 PROPOSED INSURED: Proposed Borrower: Richard Lemons and/or assigns (d) TEXAS SHORT FORM RESIDENTIAL LOAN POLICY OF TITLE INSURANCE(Form T-2R) Policy Amount: PROPOSED INSURED: Proposed Borrower: (e) LOAN TITLE POLICY BINDER ON INTERIM CONSTRUCTION LOAN(Form T-13) Binder Amount: PROPOSED INSURED: Proposed Borrower: (1) OTHER 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: Lawrence F.Guseman,III 4. Legal description of the land: Lots Nine(9),Ten (10),Eleven(11) and Twelve(12),Block One(1),Breezy Heights Addition,City of College Station, according to the replat thereof recorded in Volume 11830,Page 126,Official Records,Brazos County,Texas. FORM T-7: Commitment for Title Insurance COMMITMENT FOR TITLE INSURANCE Issued By First American Title Insurance Company 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): Volume 11830,Page 126(on replat),Official Records,Brazos County,Texas,but deleting any covenants,conditions or restrictions indicating a preference,limitation or discrimination based on race,color,religion,sex,handicap, familial status,or national origin unless and only to the extent that said covenant(a)is exempt under Chapter 42, Section 3607 of the United States Code or(b) relates to handicap but does not discriminate against handicapped persons, 2. Any discrepancies, conflicts, or shortages in area or boundary lines, or any encroachments or protrusions, or any overlapping of improvements. 3. Homestead or community property or survivorship rights, if any, of any spouse of any insured. (Applies to the Owner's 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's Policy only.) 5. Standby fees, taxes and assessments by any taxing authority for the year 2014, 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 Loan 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. 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 Loan Title Policy Binder on Interim Construction Loan only,and may be deleted if satisfactory evidence is furnished to us before a binder is issued.) FORM T-7: Commitment for Title Insurance Continuation of Schedule B GF No. 140447 8. Liens and leases that affect the title to the land,but that are subordinate to the lien of the insured mortgage. (Applies to Loan Policy(T-2)only.) 9. The Exceptions from Coverage and Express Insurance in Schedule B of the Texas Short Form Residential Loan Policy (T- 2R). (Applies to Texas Short Form Residential Loan Policy (T-2R)only. Separate exceptions 1 through 8 of this Schedule B do not apply to the Texas Short Form Residential Loan 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. Rights of Parties in Possession. (OWNER POLICY ONLY) b. All leases,grants,exceptions or reservations of coal,lignite,oil,gas and other minerals,together with all rights,privileges,and immunities relating thereto, appearing in the Public Records whether listed in Schedule B or not. There may be leases,grants, exceptions or reservations of mineral interest that are not listed. c. Any encroachment,encumbrance,violation,variation,or adverse circumstance affecting title that would be disclosed by an accurate and complete land survey of the land. (NOTE: UPON RECEIPT OF A SURVEY ACCEPTABLE TO COMPANY,THIS EXCEPTION WILL BE DELETED. COMPANY RESERVES THE RIGHT TO ADD ADDITIONAL EXCEPTIONS PER ITS EXAMINATION OF SAID SURVEY.) d. Easements as set out on plat recorded in Volume 11830, Page 126,Official Records, Brazos County,Texas. e. Oil and Gas Lease,and all terms, conditions and stipulations therein: Lessor: Luther Goodrich Jones.et ux Lessee: Chaparral Minerals,Inc. Dated: February 14, 1984 Recorded: Volume 666,Page 205,Official Records,Brazos County,Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. FORM T-7: Commitment for Title Insurance