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COMMITMENT FOR TITLE INSURANCE
SCHEDULE A
Effective Date: September 18, 2009, 07:00 am G.F. No. or File No. 25931
Commitment No. issued: September 29, 2009, 01:45 pm
(if applicable)
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 POLICY OF TITLE INSURANCE -
ONE -TO -FOUR FAMILY RESIDENCES (Form T-1R)
Policy Amount:
PROPOSED INSURED:
(c) LOAN POLICY OF TITLE INSURANCE (Form T-2)
Policy Amount: To Be Determined
PROPOSED INSURED: American Momentum Bank
Proposed Borrower: BCS Development Company. a Texas corporation
(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
Policy Amount:
PROPOSED INSURED:
The interest in the land covered by this Commitment is: Fee Simple
Record title to the land on the Effective Date appears to be vested in:
BCS Development Company
Legal description of the land:
d being situated in the Robert Stevenson Survey, Abstract No.
Being all that certain tract or parcel of land, lying an
54, College Station, Brazos County, Texas, and being part of the 41.16 acre tract conveyed to BCS Development
Company by Wayne A. Dunlap, et al by deed recorded in Volume 6231, Page 66, of the Official Records of Brazos
County, Texas (O.R.B.C.) and being more particularly described by metes and bounds as follows:
BEGINNING at a found 1/2-inch iron rod marking the southeast corner of the said 41.16 acre tract, the southwest
corner of the called 217.5 acre Gary Seaback tract described in Volume 2597, Page 186 (O.R.B.C.) and said iron rod
also being in the north right-of-way line of State Highway No. 40;
THENCE along the northerly line of said State Highway No. 40 for the following five (5) calls:
1. S 85121' 18" W for a distance of 145.15 feet to a found concrete monument with a brass disc for corner,
2. S 880 07' 05" W for a distance of 517.45 feet to a found concrete monument with a brass disc for corner,
3. N 870 53' 03" W for a distance of 240.64 feet to a found concrete monument with a brass disc for corner,
4. N 790 00' 36" W for a distance of 478. 52 feet to a found concrete monument with a brass disc for corner
and
5. N 680 44' 20" W for a distance of 233.26 feet to a found 1/2-inch iron rod marking the south corner of
SONOMA, PHASE 2 Subdivision as recorded in Volume 8502, Page 285 (O.R.B.C.);
THENCE: along the southeast line of said SONOMA, PHASE 2 Subdivision for the following seventeen (17) calls:
1. N 210 15' 40" E for a distance of 100.02 feet to a found 3/4-inch iron pipe for the Point of Curvature
Old Republic National Title Insurance Company Page 1
Continuation of Schedule A
G.F. No. 25931
of a curve to the right,
2. 39.27 feet along the arc of said curve having a central angle of 901 00' 00", a radius of 25.00 feet, a
tangent of 25.00 feet and a long chord bearing N 660 15' 40" E at a distance of 35.36 feet to a found 3/4-
inch iron pipe for corner,
3. N 211 15' 40" E for a distance of 50.00 feet to a found 1/2-inch iron rod for corner,
4. N 68144' 20" W for a distance of 68.16 feet to a found 1/2-inch iron rod for corner,
5. N 210 15' 40" E for a distance of 210.00 feet to a found 1/2-inch iron rod for corner,
6. S 680 44' 20" E for a distance of 77.87 feet to a found 1/2-inch iron rod for corner,
7. N 171 17' 51" W for a distance of 104.19 feet to a found 3/4-inch iron pipe for the Point of Curvature
of a curve to the left,
8. 64.73 feet along the are of said curve having a central angle of 241 43' 27", a radius of 150.01 feet, a
tangent of 32.88 feet and a long chord bearing N 291 39' 39" W at a distance of 64.23 feet to a found
3/4-inch iron pipe for the Point of Compound Curvature,
9. 8.38 feet along the arc of said compound curve having a central angle of 191 12' 06", a radius of 25.00
feet, a tangent of 4.23 feet and a long chord bearing N 510 37' 30" W at a distance of 8.34 feet for
corner,
10. N 280 46' 30" E for a distance of 52.68 feet to a found 3/4-inch iron pipe for, corner,
11. 37.25 feet in a clockwise direction along the arc of a curve having a central angle of 850 22' 55", a
radius of 25.00 feet, a tangent of 23.06 feet and a long chord bearing N 060 33' 52" W at a distance of
33.90 feet to a found 3/4-inch iron pipe for the Point of Compound Curvature,
12. 53.11 feet along the arc of said compound curve having a central angle of 60 24' 23", a radius of
475.00 feet, a tangent of 26.58 feet and a long chord bearing N 391 19' 47" E at a distance of 53.08 feet
to a found 3/4-inch iron pipe for the Point of Tangency,
13. N 420 31' 59" E for a distance of 144.58 feet to a found 3/4-inch iron pipe for the Point of Curvature
of a curve to the right,
14. 38.03 feet along the arc of said curve having a central angle of 871 09' 56", a radius of 25.00 feet, a
tangent of 23.79 feet and a long chord bearing N 860 06' 58" E at a distance of 34.47 feet to a found 3/4-
inch iron pipe for corner,
15. N 390 31' 24" E for a distance of 50.00 feet for corner,
16. 14.78 feet in a counter -clockwise direction along the arc of a curve having a central angle of 10 46'
5611, a radius of 475.00 feet, a tangent of 7.39 feet and a long chord bearing N 510 22' 04" W at a distance
of 14.77 feet for corner and
17. N 39103' 22" E for a distance of 153.86 feet to a found 1/2-inch iron rod marking the north corner of
said SONOMA, PHASE 2, said iron rod also being in the northeast line of the said 41.16 acre tract and
the southwest line of the 64.28 acre College Station Independent School District tract as recorded in Volume
3604, Page 243 (O.R.B.C.);
THENCE S 480 07' 48" E along the northeast line of said 41.16 acre tract for a distance of 1587.71 feet to the POINT
OF BEGINNING and containing 20.762 acres of land, more or less.
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 of land is not a representation that such area or quantity is correct, but is made
only for informational and/or identification purposes and does not override Item No. 2 of Schedule B.
Old Republic National Title Insurance Company Page 2
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. b
data or- delete this
exeeption):
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
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 2009, 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.
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
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
Loan 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
Old Republic National Title Insurance Company Page 1
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 fellemling mstFietive . eevenants of reeer-d itefaized belew (We must either- insert speeffie r-eeer-ding data or- delete this
exeeptioi }.
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
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
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 2009, 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 propertyunder 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.
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
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
Loan 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
Old Republic National Title Insurance Company Page 1
Continuation of Schedule B G.F. No. 25931
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. Easements or claims of easements which are not recorded in the public records of Brazos County, Texas.
b. Any easement that may affect the property, such as roadways, sewer, telephone, water and/or telephone and
electrical lines.
C. Easement for pipe lines as shown in instrument from W. S. Barron and Verna F. Barron to Sinclair Refining
Company, dated October 6, 1947 and recorded in Volume 132, page 123, Deed Records of Brazos County,
Texas.
d. Blanket Easement for electric transmission as shown in instrument from Wayne A. Dunlap and Thomas L.
Brown to City of Bryan, Texas, dated March 31, 1981 and recorded in Volume 479, page 267, Deed Records
of Brazos County, Texas.
e. Easement granted to City of College Station, Texas by BCS Development Company as set out in instrument
dated September 29, 2004, recorded in Volume 6337, Page 277 of the Official Public Records of Brazos
County, Texas.
f. Temporary Blanket Utility Easement as shown in instrument from BCS Development Company to City of
College Station dated April 11, 2007 and recorded in Volume 7925, Page 120 of the Official Public Records of
Brazos County, Texas.
g. Easement granted to City of College Station, Texas by BCS Development Company as set out in instrument
dated August 20, 2007, recorded in Volume 8250, Page 105 of the Official Public Records of Brazos County,
Texas.
h. Blanket Easement for telephone communications as shown in instrument from Wayne Dunlap, Beverly J.
Furrer, Patricia J. Vogel, and Thomas L. Brown, Jr. to Williams Communications, Inc., dated August 10,
1999 and recorded in Volume 3621, page 334, Official Records of Brazos County, Texas.
Blanket Easement for telephone communications as shown in instrument from Wayne Dunlap, Beverly J.
Furrer, Patricia J. Vogel, and Thomas L. Brown, Jr. to Williams Communications, Inc., dated August 23,
1999 and recorded in Volume 3621, page 341, Official Records of Brazos County, Texas.
j. Blanket Easement for telephone communications as shown in instrument from Wayne Dunlap, Beverly J.
Furrer, Patricia J. Vogel, and Thomas L. Brown, Jr. to Williams Communications, Inc., dated August 30,
1999 and recorded in Volume 3621, page 345, Official Records of Brazos County, Texas.
k. Blanket Easement for telephone communications as shown in instrument from Wayne Dunlap, Beverly J.
Furrer, Patricia J. Vogel, and Thomas L. Brown, Jr. to Williams Communications, Inc., dated August 19,
1999 and recorded in Volume 3622, page 1, Official Records of Brazos County, Texas.
1. Royalty interest in the oil, gas and other minerals in and under the herein described property reserved in
deed from Verna F. Barron to James L. Gilliam dated August 15, 1957, recorded in Volume 183, page 569,
Deed Records of Brazos County, Texas. Title to this interest not investigated subsequent to date of said
instrument.
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Continuation of Schedule B
G.F. No. 25931
in. Mineral Reservation as set out in deed dated August 2, 2004 from Wayne A. Dunlap, Beverly J. Furrer,
Patricia J. Vogel and Thomas L. Brown, Jr. to BCS Development Company, recorded in Volume 6231, page
66, Official Public Records of Brazos County, Texas. Title to this interest not investigated subsequent to date
of said instrument.
n. Estate created by oil, gas and mineral lease granted to Colonial Royalties Company by B. J. Carter and wife,
Jerry Carter in instrument dated April3, 1962 and recorded in Volume 16, page 583 of the Oil, Gas and
Mineral Lease Records of Brazos County, Texas, and all terms, conditions and stipulations contained
therein. Title to this lease has not been investigated subsequent to date thereof.
o. Estate created by oil, gas and mineral lease granted to Jack W. Lester, Sr. by Wayne A. Dunlap and Thomas
L. Brown in instrument dated June 1, 1970 and recorded in Volume 21, page 333 of the Oil, Gas and Mineral
Lease Records of Brazos County, Texas, and all terms, conditions and stipulations contained therein. Title to
this lease has not been investigated subsequent to date thereof.
P. Estate created by oil, gas and mineral lease granted to Cities Service Company by Thomas L. Brown in
instrument dated October 20, 1976 and recorded in Volume 24, page 385 of the Oil, Gas and Mineral Lease
Records of Brazos County, Texas, and all terms, conditions and stipulations contained therein. Title to this
lease has not been investigated subsequent to date thereof.
q. Estate created by oil, gas and mineral lease granted to Cities Service Company by Wayne A. Dunlap and Jill
Mary Dunlap in instrument dated October 20, 1976 and recorded in Volume 24, page 517 of the Oil, Gas and
Mineral Lease Records of Brazos County, Texas, and all terms, conditions and stipulations contained
therein. Title to this lease has not been investigated subsequent to date thereof.
r. Estate created by oil, gas and mineral lease granted to Commadore Oil & Gas, Inc. by Wayne A. Dunlap and
Jill Mary Dunlap in instrument dated July 5, 1983 and recorded in Volume 89, page 533 of the Oil, Gas and
Mineral Lease Records of Brazos County, Texas, and all terms, conditions and stipulations contained
therein. Title to this lease has not been investigated subsequent to date thereof.
S. Estate created by oil, gas and mineral lease granted to Edco Energy, Inc. by Ronald Furrer and Beverly
Furrer in instrument dated October 21, 1991 and recorded in Volume 1379, page 90 of the Official Records
of Brazos County, Texas, and all terms, conditions and stipulations contained therein. Title to this lease has
not been investigated subsequent to date thereof.
t. Estate created by oil, gas and mineral lease granted to Edco Energy, Inc. by Thomas L. Brown and Crystal
Brown in instrument dated October 21, 1991 and recorded in Volume 1393, page 184 of the Official Records
of Brazos County, Texas, and all terms, conditions and stipulations contained therein. Title to this lease has
not been investigated subsequent to date thereof.
U. Estate created by oil, gas and mineral lease granted to Edco Energy, Inc. by Wayne A. Dunlap and Jill Mary
Dunlap in instrument dated October 21, 1991 and recorded in Volume 1674, page 156 of the Official Records
of Brazos County, Texas, and all terms, conditions and stipulations contained therein. Title to this lease has
not been investigated subsequent to date thereof.
V. Estate created by oil, gas and mineral lease granted to Edco Energy, Inc. by Richard F. Vogel and Patricia J.
Vogel in instrument dated October 21, 1991 and recorded in Volume 1674, page 161 of the Official Records
of Brazos County, Texas, and all terms, conditions and stipulations contained therein. Title to this lease has
not been investigated subsequent to date thereof. .
W. There is expressly excluded from coverage hereunder, and this Company does not insure title to oil, gas and
other minerals of every kind and character in, on and under the property herein described.
Old Republic National Title Insurance Company 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:
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 Loan Policy only) restrictions have not been and will not be violated that affect the validity and priority of the
insured mortgage.
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 after the effective
date of this Commitment.
5. Deed of Trust dated June 21, 2007 from BCS Development Company to Mark A. Mesec, Trustee, securing the
payment of one note of even date therewith in the principal sum of $2,496,885.00, and any other amounts payable
under the terms thereof, payable to Citibank, N.A., filed for record with the County Clerks of Brazos County, Texas,
on June 28, 2007, recorded in Volume 8065, page 283 of the Official Public Records of Brazos County, Texas.
Countersigned
Aggieland Title Company
I0
Old Republic National Title Insurance Company Page 1
COMMITMENT FOR TITLE INSURANCE
SCHEDULE D
G.F. No. or File No. 25931 Effective Date: September 18, 2009, 07:00 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
DIRECTORS OF OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY
HARRINGTON BISCHOF
JOHN M. DOXON
STEVE R. WALKER
JOHN W. POPP
ARNOLD L. STEINER
A. C. ZUCARO
OFFICERS OF OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY
RANDE K. YEAGER
President & Chief Operating Officer
STEPHEN C. WILSON
Executive Vice President
GARY J. HORN
Senior Vice President & CFO
DANIEL M. WOLD
Vice President, Secretary & Senior Corporate Counsel
MIKE TARPEY
Vice President and Treasurer
2. The following disclosures are made by the Title Insurance Agent issuing this Commitment:
Owners Directors Officers
William S. Thornton, Jr. William S. Thornton, Jr. William S. Thornton, Jr., President
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 a portion of the premium 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
Loan Policy
Endorsement Charges
Other
Total
$0.00
$0.00
$0.00
$0.00
$0.00
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
*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
Commissioner of Insurance.
This commitment is invalid unless the insuring provisions and Schedules A, B, and C are attached.
Old Republic National Title Insurance Company Page 1
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 $2,000,000 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:
"Either the Company or the Insured may demand that the claim or controversy shall be submitted to arbitration
pursuant to the Title Insurance Arbitration Rules of the American Land Title Association ("Rules"). Except as
provided in the Rules, there shall be no joinder or consolidation with claims or controversies of other persons.
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, any service in connection with its issuance or the breach of a
policy provision, or to any other controversy or claim arising out of the transaction giving rise to this policy.
All arbitrable matters when the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of
either the Company or the Insured, unless the Insured is an individual person (as distinguished from an Entity).
All arbitrable matters when the Amount of Insurance is in excess of $2,000,000 shall be arbitrated only when
agreed to by both the Company and the Insured. Arbitration pursuant to this policy and under the Rules shall
be binding upon the parties. Judgment upon the award rendered by the Arbitrator(s) may be entered in any
court of competent jurisdiction."
I request deletion of the Arbitration provision.
SIGNATURE
Old Republic National Title Insurance Company Page 1