HomeMy WebLinkAboutCommitment for Title InsuranceTEXAS COMMITMENT FOR TITLE INSURANCE
SCHEDULE A
Effective Date: April 10. 2003 at 8:00 a.m. GF No. 00032009
Commitment issued December 1, 2008, 8:00 am.
1. The policy or policies to be issued are:
(a) OWNER 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 TAR)
Policy Amount: $
PROPOSED INSURED:
(c) MORTGAGEE POLICY OF TITLE INSURANCE (FORM T-2)
Policy Amount: $195.000.60
PROPOSEDINSURED:
Wells Fargo Bank Texas, N. A.
Proposed Borrower:
C. Thomas Sitton
(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:
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:
G. Thomas Sitton
Itniversily Title Company
Texas Commiomnt (Rev. 1-1-93)- Schedule A
Alamr, Title lnsurance
Valid Only if Schedule B and C. and Cover are attached
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SCHEDULE B
GF No. 000320(N)
EXCEPTIONS FROM COVERAGE
In addition to the Exclusions and Conditions and Stipulations, your Policy will not cover loss, costs, attorney's fees, and
expenses resulting from:
The following restrictive covenants of record itemized below (We must either insert specific recording data or
delete this exception):
Volume 153, Page 548; Volume 354, Page 694 and Volume 471, Page 409, Deed Records, Brains County,
Texas; Volume 1668, Page 221, 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,
Section3607 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 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 the 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 2003, 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 famished 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.)
University Title Company
Alamo Title Insurance
Texas Commitment (Rev.1-1.93)- Schedule B valid Only if Schedule A and C, and Cover are attached
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SCHEDULE C
GF No. 00032009
Your policy will not cover loss, costs, attorney's 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:
- no person occupying the land claims any interest in that land against the persons named in paragraph 3 of
Schedule A,
all standby fees, taxes, assessments and charges against the property have been paid,.
- all improvements or repairs to the property are completed and accepted by the owner, and that all
contractors, sub -contractors, laborers and suppliers have been fully paid, and that no mechanic's, laborer's
or materialmeres liens have attached to the property,
- there is legal right of access to and from the land,
- (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 after the
effective date of this Commitment.
5, Item No. 2 of Schedule B hereof shall be amended to read "shortages in area", upon our receipt of an acceptable
survey. (As to Mortgagee Policy Only)
G. Stem No. 5 of Schedule B hereof shall be amended to read "standby fees, taxes and assessments by any taxing
authority for the year 2003 and subsequent years, 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.", upon payment of applicable premium. (As to Mortgagee
Policy T-2 Only) (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.")
7. We will require an Affidavit as to Debts and Liens be signed and the original provided to us prior to issuance of
any title policies.
S. We will require a Waiver of Inspection (Rights of Parties in Possession) be signed by the Purchaser and the
original provided to us prior to issuance of any title policies.
9. We will require an original'fax Certificate be provided, showing all taxes paid current, prior to issuance of any
title policies. (If this transaction is not closing in our office, let us know if we need to order the tax certificate.)
10. ARBITRATION:
The Owner Policy of Title Insurance (Form T-1) and the Mortgagee Policy of Title Insurance (Porn T-2) contain
an arbitration provision. It allows the Insured or the Company to require arbitration if the amount of insurance is
$1.000,000 or less. If the Insured wants to retain the right to sue the Company in case of a dispute over a claim,
UniversityTitle Company
.Alamo Title Insurance
Texas Conuninent (Rev, 1-1-93) - Schedul-C Valid Only ifSehedule A and B, and Cover are attached
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SCHEDULE D
OF No. (MG32009
Of this total amount: $_ or 15.00% will be paid to the policy issuing Title Insurance Company: S_ or 85.005/4will
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 famished to us as of the date ofthis Commitmem 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 Schedule A, B and C are attached
{.university '!'itFc Company
:i,lama Title Insurance
Texas Commitment (Rev. 1-1-93)- Schedule D Valid Only if'Schedule A, B and C, and Cover are attached