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HomeMy WebLinkAboutTitle ReportBrazos County Abstract Company "More than 130 Years of Title Service" P.O. Box 4704 Phone: (979) 731-1900 3800 Cross Park Drive Bryan, TX 77805-4704 Facsimile: (979) 731-8352 Bryan, TX 77802 E-mail: bcac@bcactg.com BOAC GF NO. 148761 Title Report Prepared October 22, 2009 for ELLISON LAW FIRM Attention: MR. CHUCK ELLISON Brazos County Abstract Company "More than 130 Years of Title Service" EFFECTIVE DATE: October 20, 2009 at 8:00 a.m. OF NO. 148761 PROPERTY DESCRIPTION: Being all that certain 128.17 acre tract or parcel of land lying and being situated in the ROBERT STEVENSON SURVEY, Abstract No. 54, College Station, Brazos County, Texas, and consisting of the following four tracts: TRACT ONE: Field notes of a 94.99 acre tract or parcel of land, lying and being situated in the ROBERT STEVENSON SURVEY, Abstract No. 54, College Station, Brazos County, Texas, and consisting of the following tracts: All of the called 5.643 acre - Tract One described in the deed from Spring Creek CS Development, Ltd. to College Station Marketplace, L.P., as recorded in Volume 6647, page 207, Official Records of Brazos County, Texas; All of the called 84.77 acre (net) -Tract One and all of the called 4.65 acre - Tract Three described in the deed from Timothy J. Crowley to College Station Marketplace, L.P., as recorded in Volume 8274, page 111, Official Records of Brazos County, Texas; Said 94.99 acre tract being more particularly described as follows: BEGINNING at the 'Jz" iron rod found marking the southeasterly cast corner of the beforementioned 84.77 acre tract, same being the south corner of South Park Estates according to the plat recorded in Volume 795, Page 259, of the Official Records of Brazos County, Texas, and being in the northwest right-of-way tine of State highway No. 40; THENCE along the northwest right-of-way line of State Highway No. 40, as follows: S 48' 59' 02" W for a distance of 858.56 feet to angle point, a concrete right-of-way marker bears S 48' 43' W - 0.25 feet, S 50' 47' 22" W for a distance of 974.50 feet to a concrete right-of-way marker found, a 6" creosote post fence corner bears N 200 02' E - 1.5 feet, S 531 41' 54" W for a distance of 177.54 feet to a %," iron rod found Brazos County Abstract Company "More than 130 Years of Title Service" marking the most southerly east corner of Arrington Road - 80' right-of-way as shown on the Right-of-way Dedication Arrington Road and 80' Decatur Drive, according to the plat recorded in Volume 7800, Page 12, of the Official Records of Brazos County, Texas, said %' iron rod being the beginning of a transition curve, concave to the north, having a radius of 30.00 feet; THENCE along the east and northeast right-of-way line of Arrington Road, as follows: Westerly along said curve for an are length of 51,56 feet to a '/2" iron rod found marking the end of this transition curve, the chord bears N 770 04' 10" W - 45.44 feet, N 27' 50' 14" W for a distance of 449.67 feet to a %" iron rod found marking the beginning of a curve, concave to the east, having a radius of 733.54 feet, Northerly along said curve for an arc length of 925.36 feet to a''/2" iron rod found marking the end of this curve, the chord bears N 08' 17' 59" E - 865.21 feet, N 44° 26' 29" E for a distance of 324.06 feet to a %' iron rod found marking the beginning of a transition curve, (transitioning around a turnabout), having a radius of 50,00 feet, Northeasterly along said curve for an arc length of 55.69 feet to a '/2" iron rod found marking the begimung of a compound curve, concave to the south, having a radius of 300.00 feet, the chord bears N 76' 20' 51" E, - 52.85 feet, Easterly along said curve for an are length of 146.44 feet to a '/2" iron rod found marking the end of this curve, the chard bears S 57' 43' 26" E - 144.99 feet, S 43' 44' 24" E for a distance of 20.00 feet to a %n" iron rod found, N 46' 15' 36" E for a distance of 65.00 feet to a %' iron rod found marking the most easterly corner of Arrington Road right-of-way, N 43' 44' 24" W for a distance of 20.90 feet to a %:" iron rod found marking the beginning of a curve, concave to the southwest having a radius of 437.00 feet, Northwesterly along said curve, for an arc length of 61.71 feet to a Y? iron rod found marking the beginning of a reverse curve, concave to the northeast, having a radius of 84.00 feet, the chord bears rife chord bears N 470 47' 48" W - 61.66 feet, Northwesterly along said curve, for an arc length of 85.90 feet to a %' iron rod found marking the beginning of a reverse curve, concave to the southwest, having a radius of 91.00 feet, the chord bears N 220 32' 52" W - 82,20 feet, Northwesterly along said curve, for an arc length of 122.76 feet to a ;" iron Brazos County Abstract Company "More than 130 Years of Title Service" rod found marking the beginning of a reverse curve, concave to the northeast, having a radius of 384.00 feet, the chord bears N 31 ° 53' 58" W - 113.66 feet, Northwesterly along said curve for all arc length of 179.58 feet to a %:" hon rod found marking the end of this curve, the chord bears N 57° 08' 55" W - 177.94 feet, N 43' 45' 05" W for a distance of 522.81 feet to a '!s" iron rod found, N 44' 06' 42" W for a distance of 384.52 feet to a %" iron rod found marking the beginning of a curve, concave to the northeast, having a radius of 465.00 feet, Northwesterly along said curve, for an are length of 102.91 feet to a %' iron rod found marking the end of this cave, the chord bears N 37146' 18" W - 102.70 feet, N 58' 34' 06" E for a distance of 8.72 feet to a %" iron rod found marking the beginning of a curve, concave to the northeast, having a radius of 455.00 feet, Northwesterly along said curve, for an arc length of 615.13 feet to a %" iron rod found marking the end of this curve, the chord bears N 06' 24' 44" E - 569.34 feet, N 45' 08' 31" E for a distance of 615.42 feet to a %x" iron rod set at a transition curve to State highway No. 6, concave to the south, having a radius of 40.00 feet, Northerly and Easterly along said transition curve for an arc length of 61.11 feet to a ''/z" iron rod set at the end of this curve in the southwest right-of- way line of State Highway No. 6, the chord bears N 881 54' 37" E - 55.34 feet; "THENCE along the southwest right-of-way line of State Highway No. 6 (right-of-way width varies), as follows: S 47' 19' 17" E for a distance of 203.39 feet to a %i" iron rod set for angle point, S 43' 01' 56" E for a distance of 200.56 feet to angle point from which a concrete right-of-way marker found bears S 670 09' 30" E - 0.35 feet; S 47' 19' 17" E for a distance of 800.00 feet to a ''/i' iron rod set, S 38' 33' 26" E for a distance of 1214.18 feet to angle point, from which a concrete right-of-way marker bears N 191 15' E - 0.3 feet, S 43" 30' 26" E for a distance of 103.26 feet to a %:" iron rod set at the northerly east corner of the beforementioned 84.77 acre tract, same being the north corner of Lot 1, of the beforementioned South Park Estates, Phase One; THENCE along the northwest and southwest tines of the beforementioned South Park Estates, Sallie being the easterly soutbeast and northeast lines of Brazos County Abstract Company "More than 130 Years of Title Service" the beforementioned 84.77 acre tract, as follows: S 28' 59' 25" W for a distance of 370.00 feet to the west corner of Lot 2, an 8" creosote post fence corner bears N 220 40' E - 1.0 feet, S 60° 58' 37" E for a distance of 138.71 feet to the PLACE OF BEGINNING, containing 94.99 acres of land, more or less. TRACT TWO: Field notes of a 5.96 acre tract or parcel of land, lying and being situated in the ROBERT STEVENSON SURVEY, Abstract No. 54, College Station, Brazos County, Texas, and being part of the 734.96 acre tract described in the deed from Robert B. Waltman and wife, Linda C. Waltman to Timothy J. Crowley, recorded in Volume 1415, Page 74, of the Official Records of Brazos County, Texas, and said 5.96 acre tract being more particularly described as follows: COMMENCING at a %" iron rod found at the ell corner of Arrington Road right-of-way as shown on the Right -of -stay Dedication Arrington Road and 80' Decatur Drive, according to the plat recorded in Volume 7800, Page 12, of the Official Records of Brazos County, Texas, said Yz" iron rod also being the east corner of a State of Texas Conservation Easement - 38.064 acres, as described in Volume 3926, Page 104, of the Official Records of Brazos County, Texas; THENCE S 39° 40' 41" W along the northwest right-of-way, line of Arrington Road for a distance of 448.23 feet to a '/" iron rod found marking a 10.09' offset in Arrington Road right-of-way and the PLACE OF BEGINNING of this description; THENCE along die west right-of-way line of Arrington Road - 80' right-of- way, as follows: S 48' 47' 1.9" E for a distance of 10.09 feet to a Ys' iron rod found marking the beginning of a curve, concave to the east, having a radius of 813.54 feet, Southerly along said curve for an are distance of 980.45 feet to a Y2' iron rod found marking the end of this curve, the chord bears S 06' 41' 10" W - 922.18 feet, S 27' 50' 14" F., for a distance of 463.58 feet to a Yi iron rod found marking the beginning of a transition curve, concave to the west, having a radius o€30.00 feet, Southerly along said transition curve, for are distance of 45.28 feet to a Y:" iron rod found marking the end of this curve in the northwest right-of-way Brazos County Abstract Company "More than 130 Years of Title Service" line of State highway No. 40, the chord bears S 15' 24' 07" W - 41.10 feet; THENCE along the northwest right-of-way line of State Highway No. 40, as follows: S 581 38' 28" W for a distance of 156.67 feet to a Y? iron rod set, S 631 50' 14" W for a distance of 37,85 feet to a %:" iron rod found marking the southerly eastern corner of the beforementioned State of Texas Conservation Easement; THENCE along the east line of the beforementioned State of Texas Conservation Easement, as follows: N 41° 12' 31" W for a distance of 342.93 feet to a %," iron rod found, N 08° 2 P 19" E for a distance of 333.74 feet to a 'h" iron rod found, N 03' 46' 16" E for a distance of 334.39 feet to a %s" iron rod found, N 13' 30' 32" E for a distance of 82.48 feet to a %z" iron rod found, N 151 34' 58" W for a distance of 309.86 feet to a Y? iron rod found, N 60' 10' 05" W for a distance of 73.68 feet to a V? iron red found, N 06' 09' 38" E for a distance of 170.13 feet to a ''/2 " iron rod found, N 49' 48' 39" E for a distance of 184.83 feet to a Yi' iron rod found, S 501 OT 30" E for a distance of 242.17 feet to the PLACE OF BEG1:IINING, containing 5.96 acres of land, more or less. TRACT THREE: Field notes of a 17.66 acre tract or parcel of land, lying and being situated in the ROBERT STEVENSON SURVEY, Abstract No. 54, College Station, Brazos County, Texas, and being part of a 17.83 acre tract described in the deed from Spring Creek CS Development, Ltd. to College Station Marketplace, L.P. recorded in Volume 7188, Page 210, of the Official Records of Brazos County, Texas, and said 17.66 acre tract being more particularly described as follows: BEGINNING at the Y? iron rod set in the common line between the beforementioned 17.83 acre tract and a 38,064 acre State of Texas Conservation easement described in Volume 3926, Page 104, of the Official Records of Brazos County, Texas, the cast corner of the said 17.83 acre tract bears N 42' 31' I0" E - 11.3) feet, the P. I. intersection of the said conservation easement, bears S 42' 31' 10" W - 0.84 feet, said %" iron rod also being in the southwest right-of-way line of Arrington Road according to the Right-of-way Dedication of Arrington Road & 80' Wide Decatur Drive plat recorded in Volume 7800, Page 12, of the Official Records of Brazos County, Texas; Brazos County Abstract Company "More than 130 Years of Title Service" THENCE along the common line between the beforementioned 17.83 acre tract and the 38.064 acre tract, as follows: S 42' 31' 10" W for a distance of 146,85 feet to a Y2" iron rod set, S 32' 28' 32" W for a distance of 226.62 feet to a Y2" iron rod set, S 23' 4706" W for a distance of 156.94 feet to a YV iron trod set, S 78' 18' S0" W for a distance of 208.00 feet to a %2" iron rod set, S 45' 33' 29" W for a distance of 419.89 feet to a '/" iron rod set, N 71' 1630" W for a distance of 60.31 feet to a %2" 'iron rod set, N 59' 10' 53" W for a distance of 353.17 feet to a %2" iron rod set at the common corner between the said 38.064 acre tract and a 22.089 acre - Tract Two described in the deed to the City of College Station, recorded in Volume 6974, Page 241, of the Official Records of Brazos County, Texas; ITIENCE along the common line between the beforementioned 17.83 acre tract and the 22.089 acre tract, as follows: N 17' 20' 05" W for a distance of 24.61 feet to a %2" iron rod set, S 89' 47' 23" W for a distance of 146,97 feet to a 5/8" iron rod found marking time common corner between the said 17.83 acre tract and the south corner of Block 2, Spring Creek Gardens Subdivision - Phase 3, according to the plat recorded in Volume 8547, Page 273, of the Official Records of Brazos County, Texas, said 5/8" iron rod also being in the northwest line of a 20' wide City of College Station Sanitary Sewer easement, recorded in Volume 4328, Page 164, of the Official Records of Brazos County, Texas; THENCE along the common line between the beforementioned 17.83 acre tract and Block 2, Spring Creek Gardens, as follows: N 54' 08' 06" E for a distance of 285,32 feet to a 518" iron rod found, N 48' 06' 48" E for a distance of 31.09 feet to a 5/8" iron rod found marking the east corner of Lot 24, Block 2, N 37' 39' 23" W for a distance of 23.05 feet to a 5/8" iron rod found marking the south corner of Lot 1, Block 3, Spring Creek Gardens Subdivision - Phase 3; 'IIEENCE along the common line between the beforementioned 17.83 acre tract and Block 3, Spring Creek Gardens, as follows: N 40' 5626" E for a distance of 188,74 feet to a %2" iron rod set at the east corner of Lot 1, Block 3, a chain link fence corner bears N 39' 25' 16" E - 13.3 feet, N 47' 46' 03" W for a distance of 322.45 feet to a Y2" iron rod set, Brazos County Abstract Company "More than 130 Years of Title Service" i 031 46' 24" E for a distance of 71,89 feet (71.87 feet plat call) to a %2" iron rod set in a curve, concave to the north, having a radius of 615.00 feet, same being the south right-of-way line of Decatur Drive - 80' right-of-way, according to the beforementioned Right-of-way Dedication of Arrington Road & 80' Wide Decatur Drive; THENCE along the south right-of-way line of Decatur Drive - 80' right-of- way, as follows: Easterly along said curve, for an arc distance of 315,39 feet to a V2" iron rod found marking the end of this curve, the chord bears N 800 15' 03" E - 311.95 feet, N 65° 33' 33" E for a distance of 554.18 feet to a %' iron rod found marking the beginning of a transition curve from Decatur Drive to Arrington Road, having a radius of 30.00 feet, Easterly along said transition curve for an are distance of 43.46 feet to a V2" iron rod set in a curve, concave to the northeast, having a radius of 545.00 feet, the chord bears S 72° 56' 11" E - 39.76 feet, Southeasterly along Arrington Road for an are distance of 120.61 feet to a `.h" iron rod found marking the end of this curve, the chord bears S 371 46' 18" E - 120.37 feet, S 44' 06' 42" E for a distance of 357,40 feet to the PLACE OF BEGINNING, containing 17.66 acres of land, more or less. TRACT FOUR: Field notes of a 9.56 acre tract or parcel of land, lying and being situated in the ROBERT STEVENSON SURVEY, Abstract No. 54, College Station, Brazos County, Texas, and being all of the called 5.711 Acre - Tract 2 and all of the called 3.838 acre - Tract 3 described in the deed from Spring Creek CS Development, Ltd. to College Station Marketplace, L.P. as recorded in Volume 6647, Page 207, of the Official Records of Brazos County, Texas, and said 9.56 acre tract being more particularly described as follows: BEGINNING at the V? iron rod set at the west corner of the beforementioned 3.838 acre tract, same being the north corner of the called 1.36 acre tract, described in Volume 8437, Page 03, of the Official Records of Brazos County, Texas, and being in the southeast lure of the K. S. Moss Capital Corp - called 14.28 acre tract described in Volume 2763, Page 147, of the Official Records of Brazos County,'1'exas; THENCE N 43° 45' 31." E along the northwest line of the beforementioned 3.838 acre tract, partially adjacent to a fence, at a distance of 61.7 feet, pass Brazos County Abstract Company "More than 130 Years of Title Service" a 2" metal pipe post fence corner, continue on, at a distance of 223.2 feet, pass a 2" metal pipe post fence corner, continue on, leaving said fence, at a distance of 536.50 feet, pass a 5/8" iron rod found at a 2" iron pipe post fence corner, continue on, for a total distance of 550.07 feet to a %' iron rod set at the north comer of the 3.838 acre tract, same being the east corner of the 14.28 acre tract in the southwest right-of-way line of State Highway No. 6; THENCE S 47' 19' 17" E along the southwest right -of --way line of State Highway No. 6, (right-of-way width varies) partially adjacent to a fence, for a distance of 69799 feet to a %s" iron rod set at the beginning of a transition curve to Arrington Road, concave to the west, having a radius of40.00 feet; THENCE, along the northwest right-of-way line of Arrington Road (80' wide right-of-way, see Volume 7800, Page 12, of the Official Records of Brazos County, Texas), as follows: Southeasterly and Southwesterly along said transition curve, for an are length of 64.55 feet to a lead plug and tack set in concrete sidewalk at the end of this curve, the chord bears S 01' 05' 23" E - 57.77 feet, S 45' 08' 31" W for a distance of 554.71 feet to a lead plug and tack set in concrete sidewalk at the south corner of the 5.711 acre tract, same being the east corner of the beforementioned 1.36 acre tract; '['HENCE along the southwest line of the beforementioned 5.711 acre and 3.838 acre tracts, same being the northeast line of the beforementioned 1.36 acre tract, as follows: N 43' 04' 06" W for a distance of 422.44 feet to a %" iron rod set, N 43' 40' 05" E for a distance of 8.91 feet to a %" iron rod set, N 46' 14' 4I" W for a distance of 303.41 feet to the PLACE OF BEGINNING, containing 9.56 acres of land, more or less. TITLE APPEARS TO BE VESTED IN: FIRST VICTORIA NATIONAL BANK as to Lot I, Block 4, Tower Point } Subdivision, Phase IA — 1.52 acres out of 5.96 acre Tract Two COLLEGE STATION MARKETPLACE, L.P. as to remainder property SUBJECT TO: LIENS: A. Deed of Trust dated April 8, 2005, executed by College Station Marketplace, L.P. to Charles E. Ellison, Trustee, securing one note of even Brazos County Abstract Company "More than 130 Years of Title Service" date payable to Spring Creek CS Development, Ltd., in the principal amount of $2,100,000,00, recorded in Volume 6647, page 214, Official Records of Brazos County, Texas. (5.643, 5.71I and 3.838 acres out of Tracts One and Four) Collateral Transfer of Note and Lien (Security Agreement) from Spring Creek CS Development, Ltd. to Timothy J. Crowley, dated April 8, 2005, recorded in Volume 6647, page 231, Official Records of Brazos County, Texas. B. Deed of Trust with Security Agreement and Assignments dated October 3, 2007., executed by College Station Marketplace, L.P. to Mark A. Mesec, Trustee, securing one note of even date payable to Citibank, N.A., in the principal amount of $8,050,000.00, recorded in Volume 8274, page 126, Official Records of Brazos County, Texas. (84.77, 5.96, 4.65 and 17.65 acres out of Tracts One, Two and Three) Partial Release of Lot 1, Block 4, Tower Point Subdivision, Phase IA, recorded in Volume 9069, page 183, Official Records of Brazos County, Texas. C. Deed of Trust dated October 3, 2007, executed by College Station Marketplace, L.P. to Charles A. Ellison, Trustee, securing one note of even date payable to Timothy J. Crowley, in the principal amount of $2,000,000.00, recorded in Volume 8274, page 147, Official Records of Brazos County, Texas. (84,77, 5.96 and 4.65 acres out of Tracts One and Two) Partial Release of Lot 1, Block 4, Tower Point Subdivision, Phase 1 A, recorded in Volume 9069, page 188, Official Records of Brazos County, Texas. Collateral Transfer of Note and Lien (Security Agreement) from Timothy J. Crowley to Lynn Goode Crowley, dated January 2, 2009, but effective October 1, 2008, recorded in Volume 8958, page 159, Official Records of Brazos County, Texas. Partial Release of Lot 1, Block 4, Tower Point Subdivision, Phase ]A, recorded in Volume 9069, page 181, Official Records of Brazos County, Texas. Partial Release of Lot 2, Block 4, `rower Point Subdivision, Phase IB, recorded in Volume 9152, page 80, Official Records of Brazos County, Texas. Brazos County Abstract Company "More than 130 Years of Title Service" 2. ABSTRACT OF JUDGMENT/FEDERAL AND/OR STATE LIENS: NONE OF RECORD 3. EASEMENTS: Easements as shown of record on plat of Tower Point Subdivision, Phase IA, recorded in Volume 9046, page 34, Official Records of Brazos County, Texas. (1.52 acres out of Tract Two) Easements as shown of record on plat of Tower Point Subdivision, Phase iB, recorded in Volume 9243, page 134, Official Records of Brazos County, Texas. (2.14 acres out of Tract Two) Blanket Right -of -Way Easement from Esther Cavitt to Sinclair Refining Company, dated March 13, 1947, recorded in Volume 132, page 95, Deed Records of Brazos County, Texas; Assignment from Sinclair Refining Company to Sinclair Pipe Line Company, dated December 31, 1950, recorded in Volume 147, page 417, Deed Records of Brazos County, Texas; Assignment and Assumption Agreement between ARCO Pipe Line Company and CITGO, dated October 3, 1994, recorded in Volume 2217, page 231, Official Records of Brazos County, Texas; Amendment to Right of Way Agreement by and between CiTGO Products Pipeline Company and Timothy J. Crowley, dated February 16, 1999, recorded in Volume 3440, page 40, Official Records of Brazos County, Texas. Right of Way Easement from Icy Barron Dowling et vir to The City of Bryan, Texas, dated August I I, 1961, page in Volume 213, page 507, Deed Records of Brazos County, Texas. (3.838 acres - Tract Four) Right -of -Way Easement from Ethel Cavitt et at to City of Bryan, dated September 21, 1961, recorded in Volume 215, page 589, Deed Records of Brazos County, Texas. (Tracts One, Two and Three) Right of Way Easement from Dwayne L. Rhea et ux to The City of Bryan, Texas, dated February 26, 1981, recorded in Volume 479, page 278, Deed Records of Brazos County, Texas. (3.838 acres - Tract Four) Right -of -Way Easement from Ethel Cavitt Estate et at to Wellborn Water Supply Corporation, dated August 11, 1982, recorded in Volume 531, page 722, Deed Records of Brazos County, Texas. Right of Way Easement from Ethel Cavitt Estate et at to Producers Gas Company, dated July 22, 1981, recorded in Volume 534, page 84, Deed Records of Brazos County, Texas. (Tract Four) Brazos County Abstract Company "More thau 130 Years of Title Service" Utility Easement from United Four Joint Venture to City of College Station, dated July 11, 1983, recorded in Volume 589, page 218, Official Records of Brazos County, Texas. (Tracts One and Four) Right -of -Way Easement from United Four Joint Venture to General Telephone Company of the Southwest, dated February 3, 1984, recorded in Volume 650, page 69, Official Records of Brazos County, Texas. (Tract One) Easement from United Four Joint Venture to City of College Station, dated August 21, 1984, recorded in Volume 723, page 689, Official Records of Brazos County, Texas. (Tracts One and Four) Easement from United Four Joint Venture to Seminole Pipeline Company, dated August 1, 1985, recorded in Volume 818, page 180, Official Records of Brazos County, Texas; Partial Release dated December 21, 1987, from Seminole Pipeline Company, recorded in Volume 1022, page 807, Official Records of Brazos County, Texas; Encroachment Agreement dated May 9, 2001, recorded in Volume 4152, page 127, Official Records of Brazos County, Texas; amendment dated April 25, 2003, recorded in Volume 5261, page 143, Official Records of Brazos County, Texas. (Tract One) Drainage Channel Easement granted in CIC Judgment styled The State of Texas to United Four Joint Venture, dated October 24, 1989, recorded in Volume 1153, page 137, Official Records of Brazos County, Texas. (Tract One) Pipeline Easement from Timothy J. Crowley to Aquila Southwest Pipeline Corporation, dated November 3, 1993, recorded in Volume 1977, page 50, Official Records of Brazos County, Texas. (Tracts One and Three) Pipeline Easement from Timothy J. Crowley to Ferguson Burleson County Gas Gathering System, dated February 24, 1995, recorded in Volume 2491, page 99, Official Records of Brazos County, Texas; and amended in Supplemental Right -Of -Way Agreement dated March 10, 2004, recorded in Volume 6040, page 98, Official Records of Brazos County, Texas. Easement and Right of Way from Timothy J. Crowley to TXU Gas Company, dated March 31, 2001, recorded in Volume 4137, page 37, Official Records of Brazos County, Texas. (Tract One) Utility Easement from Timothy J. Crowley to City of College Station, Texas, dated September 17, 2001, recorded in Volume 4328, page 164, . Official Records of Brazos County, Texas. (Tracts One, Three and Four) Brazos County Abstract Company "More than 130 Years of Title Service" Right of Way Agreement from Timothy J. Crowley to Seminole Pipeline Company, dated February 26, 2002, recorded in Volume 4555, page 294, Official Records of Brazos County, Texas. (Tracts One and Two) Public Access and Utility Easement from Spring Creek CS Development, Ltd. to City of College Station, Texas, dated March 3, 2003, recorded ht Volume 5247, page 82, Official Records of Brazos County, Texas. (Tracts One and Four) Pipeline Valve Easement from Timothy J. Crowley to Seminole Pipeline Company, dated April 25, 2003, recorded in Volume 5261, page 143, Official Records of Brazos County, Texas. (Tract One) Utility Easement from Timothy J. Crowley to City of College Station, Texas, dated May 7, 2003, recorded in Volume 5282, page 202, Official Records of Brazos County, Texas. (Tracts One and Two) Utility Easement from Timothy J. Crowley to City of College Station, Texas, dated December 18, 2003, recorded in Volume 5781, page 128, Official Records of Brazos County, 'Texas, and Temporary Construction Easement dated December 18, 2003, recorded in Volume 5781, page 133, Official Records of Brazos County, Texas. (Tract Two) Right Of Way Agreement from Timothy J. Crowley to Devon Gas Services, L.P., dated April 12, 2004, recorded in Volume 6096, page 229, Official Records of Brazos County, Texas; assigned to ETC Texas Pipeline, Ltd. in Volume 6881, page 64, Official Records of Brazos County, Texas. (Tracts One and Two) Public Utility Easement from Spring Creek CS Development, Ltd. to City of College Station, Texas, dated May 16, 2005, recorded in Volume 6693, page 290, Official Records of Brazos County, Texas. (3.838 acres - Tract Four) Designation of Property Participating in Regional Storm Water Detention Pond, executed by Timothy J. Crowley, dated effective September 30, 2005, recorded in Volume 7157, page 124, Official Records of Brazos County, Texas. Public Utility Easement fi•om College Station Marketplace, L.P., to City of College Station, Texas, dated May 30, 2007, recorded in Volume 8002, page 249, Official Records of Brazos County, Texas. (Tracts One and Three) Temporary Construction Easement from Timothy J. Crowley to City of Brazos County Abstract Company "More than 130 Years of Title Service" College Station, Texas, dated May 30, 2007, recorded in Volume 8002, page 258, Official Records of Brazos County, Texas. (Tract One) Drainage Easement from Timothy J. Crowley to City of College Station, Texas, dated May 30, 2007, recorded in Volume 8002, page 266, Official Records of Brazos County, Texas. (Tract One) Slope Control Easement from Timothy 1. Crowley to City of College Station, Texas, dated May 30, 2007, recorded in Volume 8002, page 273, Official Records of Brazos County, Texas. (Tract One) Public Utility Easement from Spring Creek CS Development, Ltd. to City of College Station, Texas, dated May 30, 2007, recorded in Volume 8002, page 282, Official Records of Brazos County, Texas. (Tract Three) Public Utility Easement from Timothy J. Crowley to City of College Station, Texas, dated May 30, 2007, recorded in Volume 8002, page 289, Official Records of Brazos County, Texas. (Tracts One and Two) Declaration of Access executed by College Station Marketplace, L.P., dated February 26, 2009, recorded in Volume 9015, page 285, Official Records of Brazos County, Texas. (I.52 and 2.14 acres out of5.96 acres - Tract Two) Sewer Maintenance and 'Temporary Construction Easement Agreement by and between the City of College Station, Texas and College Station Marketplace, L.P., dated September 14, 2009, recorded in Volume 9311, page 257, Official Records of Brazos County, Texas. (2,14 acres out of 5.96 acres - Tract Two) 4. OUTSTANDIIVG MNERALS AND/OR ROYALTIES: Mineral reservation in Deed from Edith Cavitt Estate et al to United Four Joint Venture, dated December 16, 1982, recorded in Volume 564, page 504, Deed Records of Brazos County, Texas. Title to this reservation has not been traced subsequent to the date of the above -cited instrument. Royalty reservation in Deed from Robert B. Waltman et ux to Timothy J. Crowley, dated January 24, 1992, but effective December 31, 1991, recorded in Volume 1415, page 74, Official Records of Brazos County, Texas. Title to this reservation has not been traced subsequent to the date of the above -cited instrument. Mineral reservation in Deed from Timothy J. Crowley to Spring Creek CS Development, Ltd., dated January 24, 2002, recorded in Volume 4712, page Brazos County Abstract Company "More than 130 Years of Title Service" 260, Official Records of Brazos County, Texas. Title to this reservation has not been traced subsequent to the date of the above -cited instrument, (17.83, 5.643 and 5.711 acre tracts) Mineral reservation in Deed from Timothy J. Crowley to College Station Marketplace, L.P., dated October 3, 2007, recorded in Volume 8274, page 111, Official Records of Brazos County, Texas. Title to this reservation has not been traced subsequent to the date of the above -cited instrument. (84.77, 5.96 and 4.65 acre tracts) Mineral reservation in Deed from College Station Marketplace, L.P. to First Victoria National Bank, dated April, 2009, recorded in Volume 9069, page 190 and corrected in Volume 9077, page 143, Official Records of Brazos County, Texas. Title to this reservation has not been traced subsequent to the date of the above -cited instrument. (Lot 1, Block 4, Tower Point Subdivision, Phase IA) 5. OIL & GAS LEASES: Estate created by Oil and Gas Lease from Edith Cavitt Estate et al to Cayuga Exploration, [tic., dated August 15, 1.977, recorded in Volume 27, page 530, O&GL Records of Brazos County, Texas. Title to this lease has not been traced subsequent to the date of the above -cited instrument. Estate created by Oil and Gas Lease from Timothy J. Crowley, et at to Union Pacific Resources Company, dated May 29, 1990, recorded in Volume 1205, page 135, Official Records of Brazos County, Texas; as ratified in instruments recorded in Volume 1197, page 837 and 839; Volume 1220, pages 311, 313, 315 and 317 and Volume 1667, page 42, Official Records of Brazos County, Texas; and as amended and extended in instruments recorded in Volume 1835, page 92 and Volume 1839, page 303, Official Records of Brazos County, Texas; subject to Partial Release dated October 17, 1995,.recorded in Volume 2514, page 332, Official Records of Brazos County, Texas, 'Title to this lease has not been traced subsequent to the date of the above -cited instrument. 6. RESTRICTIONS: Restrictive covenants recorded in Volume 9069, page 197, Official Records of Brazos County, "texas. (Tract Two) MISCELLANEOUS: Terms and conditions set forth in the Agreement Regarding Restrictive Covenants by and between College Station Marketplace, L„P, and First Brazos County Abstract Company "More than 130 Years of Title Service" Victoria National Bank, dated April 23, 2009, recorded in Volume 9060, page 197, Official Records of Brazos County, Texas. (Tract Two) THIS TITLE REPORT IS ISSUED WITH THE EXPRESS UNDERSTANDING, EVIDENCED BY THE ACCEPTANCE OF SAME THAT THE UNDERSIGNED, BRAZOS COUNTY ABSTRACT COMPANY DOES NOT UNDERTAKE HEREIN TO GIVE OR EXPRESS ANY OPINION AS TO THE VALIDITY OF THE TITLE TO THE PROPERTY ABOVE DESCRIBED, NOR AS TO THE VALIDITY OF ANY OF THE INSTRUMENTS REPORTED HE, INCLUDING THE PURPORTED DEED(S) ESTABLISHING THE RECORD OWNER(S) CITED ABOVE, BUT IS SIMPLY REPORTING BRIEFLY HEREIN AS TO THE INSTRUMENTS FOUND OF RECORD PERTAINING TO SAID PROPERTY, AND IT IS EXPRESSLY UNDERSTOOD AND AGREED THAT THIS TITLE REPORT IS NEITHER A GUARANTY NOR WARRANTY OF THE TITLE, BY ACCEPTANCE OF THIS TITLE REPORT IT IS UNDERSTOOD THAT THE LIABILITY OF THE ISSUER HEREOF IS EXPRESSLY LIMITED TO THE ACTUAL MONETARY CONSIDERATION PAID FOR SAID REPORT BY ELLISON LAW FIRM. THIS SEARCH HAS BEEN LIMITED TO THE ABOVE MATTERS AND THE ABOVE TIME PERIOD; AND WE HAVE NOT SEARCHED FOR, NOR HAVE REFLECTED HEREIN, ANY EXAMINATION AS TO TAX SUITS, SPECIAL ASSESSMENTS, CONFLICTS OR OTHER INSTRUMENTS WHICH MAY AFFECT TITLE TO THE SUBJECT PROPERTY. IF TITLE INSURANCE COVERAGE, WHICH IS NOT PROVIDED BY THIS REPORT, IS NEEDED, SAID COVERAGE IS AVAILABLE THROUGH THE APPLICABLE PROMULGATED POLICY(IES), AND AT A SPECIFIED RATE PREMIUM. BRAZOS COUNTY ABSTRACT COMPANY BY: L .....-..... I.ISA KEMP GF No. 144421 CERTIFICATE THE STATE OF TEXAS § COUNTY OF BRAZOS § BRAZOS COUNTY ABSTRACT COMPANY does hereby certify that we have examined the records in the office of the Clerk of the County Court of Brazos County, Texas, affecting the title to the said property described below from January 16, 2009: TRACT ONE: Being all that certain 89.42 acre tract or parcel of land, lying and being situated in the ROBERT STEVENSON SURVEY, Abstract No. 54, College Station, Brazos County, Texas, and being part of the 734.96 acre tract described in the deed from Robert B. Waltman and wife, Linda C. Waltman to Timothy J. Crowley, recorded in Volume 1416, Page 74, of the Official Records of Brazos County, Texas, and said 89.42 acre tract being more particularly described as follows: BEGINNING at a '/2" iron rod set at the east corner of a 5.643 acre - Tract 1 described in the deed to College Station Marketplace, L.P. recorded in Volume 6647, Page 207, of the Official Records of Brazos County, Texas, said %" iron rod lying in the southwest right-of-way line of State Highway No. 6; THENCE along the southwest right-of-way line of State Highway No. 6 as follows: S 47' 19' 17" E for a distance of 785.37 feet to a'/2' iron rod set, S 38° 33' 26" E for a distance of 1214.18 feet, from which a concrete right- of-way marker bears N 19° 16' E - 0.3 feet, S 430 30' 26" E for a distance of 103.26 feet to a %" iron rod set at the north corner of Lot 1, South Park Estates, Phase One according to the plat recorded in Volume 796, Page 269, of the Official Records of Brazos County, Texas; THENCE along the northwest and southwest lines of the beforementioned South Park Estates, as follows: S 28' 59' 25" W for a distance of 370.00 feet to the west corner of Lot 2, an 8" creosote post fence corner bears N 220 40' E - 1.0 feet, S 600 58' 37" E for a distance of 138.71 feet to a %" iron rod found at the intersection of the southwest line of Lot 2, with the northwest right-of-way line of State Highway No. 40, an 8" creosote fence post bears N 411 55'W - 1.61 feet; THENCE along the northwest right-of-way line of State Highway No. 40 as follows: S 48'0 59' 02 W for a distance of 858.56 feet, a concrete right-of-way marker bears S 480 43' W - 0.25 feet, S 500 47' 22" W for a distance of 974.60 feet to a concrete right-of-way marker found, a 6" creosote post fence corner bears N 200 02' E -1.6 feet, S 630 41' 64" W for a distance of 177.54 feet to a'/2" iron rod found marking the most southerly east corner of Arrington Road - 80' right-of-way as shown on the Right-of-way Dedication Arrington Road and 80' Decatur Drive, according to the plat recorded in Volume 7800, Page 12, of the Official Records of Brazos County, Texas, said %" iron rod being the beginning of a transition curve, concave to the north, having a radius of 30.00 feet; THENCE along the east and northeast right-of-way line of Arrington Road, as follows: Westerly along said curve for an are distance of 51.56 feet to a %" iron rod found marking the end of this transition curve, the chord bears N 77' 04' 10" W - 45.44 feet, N 270 50' 14" W for a distance of 449.67 feet to a'/2" iron rod found marking the beginning of a curve, concave to the east, having a radius of 733.54 feet, Northerly along said curve for an arc distance of 926.36 feet to a %" iron rod found marking the end of this curve, the chord bears N 080 17'59" E - 865.21 feet, N 440 26' 29" E for a distance of 324.06 feet to a'/2" iron rod found marking the beginning of a transition curve, (transitioning around a turnabout), having a radius of 50.00 feet, Northeasterly along said curve for an arc distance of 56.69 feet to a'/2" iron rod found marking the beginning of a compound curve, concave to the south, having a radius of 300.00 feet, the chord bears N 760 20' 51" E - 62.85 feet, Easterly along said curve for an arc distance of 146.44 feet to a'/2" Iron rod found marking the and of this curve, the chord bears S 570 43' 26" E-144.99 feet, S 430 44' 24" E for a distance of 20.00 feet to a %" iron rod found, N 461 16' 36" E for a distance of 65.00 feet to a'/2" iron rod found marking the most easterly corner of Arrington Road right-of-way, N 43° 44' 24" W for a distance of 20.90 feet to a'/i' iron rod found marking the beginning of a curve, concave to the southwest having a radius of 437.00 feet, Northwesterly along said curve, for an arc distance of 61.71 feet to a'/i' iron rod found marking the beginning of a reverse curve, concave to the northeast, having a radius of 84.00 feet, the chord bears N 470 47' 48" W - 61.66 feet, Northwesterly along said curve, for an arc distance of 85.90 feet to a'/2" iron rod found marking the beginning of a reverse curve, concave to the southwest, having a radius of 91.00 feet, the chord bears N 220 32' 62" W - 82.20 feet, Northwesterly along said curve, for an arc distance of 122.76 feet to a %" iron rod found marking the beginning of a reverse curve, concave to the northeast, having a radius of 384.00 feet, the chord bears N 310 53' 58" W-113.66 feet, Northwesterly along said curve for an are distance of 179.58 feet to a %" iron rod found marking the end of this curve, the chord bears N 57° 08' 66" W-177.94 feet, N 43° 45' 05" W for a distance of 522.81 feet to a'/z' iron rod found, N 440 06' 42" W for a distance of 384.52 feet to a'/z' iron rod found marking the beginning of a curve, concave to the northeast, having a radius of 466.00 feet, Northwesterly along said curve, for an are distance of 102.91 feet to a 1/2" iron rod found marking the end of this curve, the chord bears N 370 46' 18" W-102.70 feet, N 580 34' 06" E for a distance of 8.72 feet to a 1/2' iron rod found marking the beginning of a curve, concave to the northeast, having a radius of 455.00 feet, Northwesterly along said curve, for an are distance of 615.13 feet to a 1/2° iron rod found marking the end of this curve, the chord bears N 060 24' 44" E - 569.34 feet, N 450 08' 31" E for a distance of 56.92 feet to a %" iron rod set at the intersection of the southwest line of the beforementioned College Station Marketplace L.P. - 6.643 acre tract, with the southeast right-of-way line of Arrington Road; THENCE along the southwest and southeast lines of the beforementioned College Station Marketplace L.P. - 5.643 acre tract as follows: S 40120' 30" E for a distance of 229.52 feet to a %" iron rod set at the beginning of a curve, concave to the north, having a radius of 110.00 feet, Easterly along said curve, for an arc distance of 158.90 feet to a %" iron rod set at the end of this curve, the chord bears S 810 43' 25" E-145.44 feet, N 66' 53' 40" E for a distance of 249.07 feet to a %" iron rod set at the beginning of a curve, concave to the southeast, having a radius of 980.94 feet, Northeasterly along said curve, for an are distance of 133.66 feet to a %" iron rod set at the end of this curve, the chord bears N 620 37' 58" E - 133.46 feet, N 660 32' 05" E for a distance of 79.65 feet to a'/2" iron rod set at the beginning of a curve, concave to the southeast, having a radius of 1115.94 feet, Northeasterly along said curve, for an arc distance of 19.32 feet to a %" iron rod set at the end of this curve, the chord bears N 370 45' 04" E - 19.32 feet, N 400 04' 46" E for a distance of 68.07 feet to the PLACE OF BEGINNING, containing 89.42 acres of land, more or less. SAVE AND EXCEPT THEREFROM the following 4.65 acre tract; Being all that certain 4.66 acre tract or parcel of land, lying and being situated in the ROBERT STEVENSON SURVEY, Abstract No. 64, College Station, Brazos County, Texas, and being part of the 734.96 acre tract described in the deed from Robert B. Waltman and wife, Linda C. Waltman to Timothy J. Crowley, recorded in Volume 1415, Page 74, of the Official Records of Brazos County, Texas, and said 4.65 acre tract being more particularly described as follows: BEGINNING at a'/2' iron rod found marking the most southerly east corner of Arrington Road - 80' right-of-way as shown on the Right-of-way Dedication Arrington Road and 80' Decatur Drive, according to the plat recorded in Volume 7800, Page 12, of the Official Records of Brazos County, Texas, said %" iron rod being the beginning of a transition curve, concave to the north, having a radius of 30.00 feet, said'/2" iron rod also being in the northwest right-of-way of State Highway No. 40; THENCE along the east and northeast right-of-way line of Arrington Road, as follows: Westerly along said curve for an arc distance of 51.56 feet to a %" iron rod found marking the end of this transition curve, the chord bears N 770 04' 10" W - 46.44 feet, N 27' 60' 14" W for a distance of 272.65 feet to a Y=" iron rod set in the centerline of a proposed 40' access easement; THENCE along the centerline of the proposed 40' access easement, as follows: N 62° 09' 26" E for a distance of 170.23 feet to a'/z' iron rod set, N 500 47' 05" E for a distance of 520.16 feet to a '/:" iron rod set; THENCE S 390 12'55" E for a distance of 278.67 feet to a'/2" iron rod set in the northwest right-of-way line of State Highway No. 40; THENCE along the northwest right-of-way of State Highway No. 40, as follows: S 50° 47' 22" W for a distance of 535.64 feet to a concrete right-of-way marker found, S 53° 41' 54" W for a distance of 177.54 feet to the PLACE OF BEGINNING, containing 4.65 acres of land, more or less. TRACT TWO: Being all that certain 5.96 acre tract or parcel of land, lying and being situated in the ROBERTSON STEVENSON SURVEY, Abstract No. 64, College Station, Brazos County, Texas, and being part of the 734.96 acre tract described in the deed from Robert B. Waltman and wife, Linda C. Waltman to Timothy J. Crowley, recorded in Volume 1415, Page 74, of the Official Records of Brazos County, Texas, and said 5.96 acre tract being more particularly described as follows: COMMENCING at a'/2' iron rod found at the ell corner of Arrington Road right-of-way as shown on the Right-of-way Dedication Arrington Road and 80' Decatur Drive, according to the plat recorded in Volume 7800, Page 12, of the Official Records of Brazos County, Texas, said %" iron rod also being the east corner of a State of Texas Conservation Easement - 38.064 acres, as described in Volume 3926, Page 104, of the Official Records of Brazos County, Texas; THENCE S 390 40' 41" W along the northwest right-of-way line of Arrington Road for a distance of 448.23 feet to a %" iron rod found marking a 10.09' offset in Arrington Road right-of-way and the PLACE OF BEGINNING of this description; THENCE along the west right-of-way line of Arrington Road - 80' right-of- way, as follows: S 480 47' 19" E for a distance of 10.09 feet to a'/i' iron rod found marking the beginning of a curve, concave to the east, having a radius of 813.54 feet, Southerly along said curve for an arc distance of 980.45 feet to a W, iron rod found marking the end of this curve, the chord bears S 060 41' 10" W - 922.18 feet, S 27' 50' 14" E for a distance of 463.58 feet to a %" iron rod found marking the beginning of a transition curve, concave to the west, having a radius of 30.00 feet, Southerly along said transition curve, for arc distance of 45.28 feet to a'/2' iron rod found marking the end of this curve in the northwest right-of-way line of State Highway No. 40, the chord bears S 160 24' 07" W - 41.10 feet; THENCE along the northwest right-of-way line of State Highway No. 40, as follows: S 58° 38' 28" W for a distance of 156.67 feet to a'/2" iron rod set, S 63° 50' 14" W fora distance of 37.85 feet to a Y2' iron rod found marking the southerly eastern corner of the beforementioned State of Texas Conservation Easement; THENCE along the east line of the beforementioned State of Texas Conservation Easement, as follows: N 410 12'31" W for a distance of 342.93 feet to a'/Z' iron rod found, N 08° 21' 19" E for a distance of 333.74 feet to a'/Z' iron rod found, N 03° 46' 16" E for a distance of 334.39 feet to a'/2" iron rod found, N 13130' 32" E for a distance of 82.48 feet to a %" iron rod found, N 160 34' 68" W for a distance of 309.86 feet to a'/2" iron rod found, N 600 10'05" W for a distance of 73.68 feet to a'/z ` iron rod found, N 060 09' 38" E for a distance of 170.13 feet to a'/2" iron rod found, N 490 48' 39" E for a distance of 184.83 feet to a'/2" iron rod found, S 500 07' 30" E for a distance of 242.17 feet to the PLACE OF BEGINNING, containing 5.96 acres of land, more or less. TRACT THREE: Being all that certain 4.65 acre tract or parcel of land, lying and being situated in the ROBERT STEVENSON SURVEY, Abstract No. 54, College Station, Brazos County, Texas, and being part of the 734.96 acre tract described in the deed from Robert B. Waltman and wife, Linda C. Waltman to Timothy J. Crowley, recorded in Volume 1415, Page 74, of the Official Records of Brazos County, Texas, and said 4.65 acre tract being more particularly described as follows: BEGINNING at a 1/2' iron rod found marking the most southerly east corner of Arrington Road - 80' right-of-way as shown on the Right-of-way Dedication Arrington Road and 80' Decatur Drive, according to the plat recorded in Volume 7800, Page 12, of the Official Records of Brazos County, Texas, said %" iron rod being the beginning of a transition curve, .concave to the north, having a radius of 30.00 feet, said %" iron rod also being in the northwest right-of-way of State Highway No. 40; THENCE along the east and northeast right-of-way line of Arrington Road, as follows: Westerly along said curve for an arc distance of 51,56 feet to a'/2' iron rod found marking the end of this transition curve, the chord bears N 770 04' 10" W - 45.44 feet, N 27' 50' 14" W for a distance of 272.66 feet to a %" iron rod set in the centerline of a proposed 40' access easement; THENCE along the centerline of the proposed 40' access easement, as follows: N 620 09' 26" E for a distance of 170.23 feet to a %" iron rod set, N 500 47' 05" E for a distance of 520.16 feet to a'/2" iron rod set; THENCE S 390 12'55" E for a distance of 278.67 feet to a %" iron rod set in the northwest right-of-way line of State Highway No. 40; THENCE along the northwest right-of-way of State Highway No. 40, as follows: S 500 47' 22" W for a distance of 535.64 feet to a concrete right-of-way marker found, S 531 41'54" W for a distance of 177.54 feet to the PLACE OF BEGINNING, containing 4.65 acres of land, more or less. TRACT FOUR: Being all that certain 17.65 acre tract or parcel of land, lying and being situated in the ROBERT STEVENSON SURVEY, Abstract No. 54, College Station, Brazos County, Texas, and being part of a 17.83 acre tract described in the deed from Spring Creek CS Development, Ltd. to College Station Marketplace, L.P. recorded in Volume 7188, Page 210, of the Official Records of Brazos County, Texas, and said 17.66 acre tract being more particularly described as follows: BEGINNING at the %" iron rod set in the common line between the beforementioned 17.83 acre tract and a 38.064 acre State of Texas Conservation easement described in Volume 3926, Page 104, of the Official Records of Brazos County, Texas, the east corner of the said 17.83 acre tract bears N 420 31' 10" E -11.3 feet, the P. I, intersection of the said conservation easement, bears S 420 31' 10" W - 0.84 feet, said'/z" iron rod also being in the southwest right-of-way line of Arrington Road according to the Right-of-way Dedication of Arrington Road & 80' Wide Decatur Drive plat recorded in Volume 7800, Page 12, of the Official Records of Brazos County, Texas; THENCE along the common tine between the beforementioned 17.83 acre tract and the 38.064 acre tract, as follows: S 420 31' 10" W for a distance of 146.85 feet to a %" iron rod set, S 32' 28' 32" W for a distance of 226.62 feet to a %" iron rod set, S 230 47' 06" W for a distance of 166.94 feet to a'/z , iron rod set, S 78° 18' 60" W for a distance of 208.00 feet to a %" iron rod set, S 450 33' 29" W for a distance of 419.89 feet to a %" iron rod set, N 71016' 30" W for a distance of 60.31 feet to a %" iron rod set, N 59010' 63" W for a distance of 353.17 feet to a %" iron rod set at the common corner between the said 38.064 acre tract and a 60.16 acre tract described in the deed to the City of College Station, recorded in Volume 6974, Page 241, of the Official Records of Brazos County, Texas; THENCE along the common line between the beforementioned 17.83 acre tract and the 60.15 acre tract, as follows: N 170 20' 05" W for a distance of 24.61 feet to a'/2' iron rod set, N 890 45' 46" W for a distance of 146.28 feet to a'/2" iron rod set at the west corner of the said 17.83 acre tract, and in the northwest line of a 20' wide City of College Station Sanitary Sewer easement, recorded in Volume 4328, Page 164, of the Official Records of Brazos County, Texas; THENCE along the southwest line of the beforementioned 17.83 acre tract, as follows: N 54° 07' 28" E for a distance of 284.24 feet to a %" iron rod set, N 48' 06' 10" E for a distance of 32.43 feet to a'/z' iron rod set, a 4" creosote post bears S 440 23' 07" W -10.9 feet, N 370 40' 36" W for a distance of 22.77 feet to airon rod set, a chain link fence post bears N 460 03' 02" W -12.9 feet, N 400 55' 13" E for a distance of 188.74 feet to a'/:" iron rod set, from which a chain link fence post bears N 460 03' 14" W -13.0 feet, N 470 47' 16" W for a distance of 322.45 feet to a 1/2' iron rod set, a chain link fence post bears N 460 47' 39" W -12.9 feet N 04° 46' 33" E for a distance of 70.63 feet to a %" iron rod set in a curve, concave to the north, having a radius of 615.00 feet, same being the south right-of-way line of Decatur Drive - 80' right-of-way, according to the beforementioned Right-of-way Dedication of Arrington Road & 80' Wide Decatur Drive; THENCE along the south right-of-way line of Decatur Drive - 80' right-of- way, as follows: Easterly along said curve, for an arc distance of 313.43 feet to a Yz' iron rod found marking the end of this curve, the chord bears N 800 09' 34" E - 310.05 feet, N 65133' 33" E for a distance of 554.18 feet to a %" iron rod found marking the beginning of a transition curve from Decatur Drive to Arrington Road, having a radius of 30.00 feet, Easterly along said transition curve for an arc distance of 43.46 feet to a %" iron rod set in a curve, concave to the northeast, having a radius of 545.00 feet, the chord bears S 720 56' 11" E - 39.76 feet, Southeasterly along Arrington Road for an arc distance of 120.61 feet to a %" iron rod found marking the end of this curve, the chord bears S 370 46' 18" E-120.37 feet, S 440 06' 42" E for a distance of 357.40 feet to the PLACE OF BEGINNING, containing 17.65 acres of land, more or less. We find the following actions or conveyances affecting the title to said land (specifically excluding any conveyances respecting mineral estate) through effective date of September 1, 2009 @ 8:00 a.m.: Collateral Transfer of Note (Security Agreement) from Timothy J. Crowley to Lynn Goode Crowley, dated January 2, 2009, but effective October 1, 2008, recorded in Volume 8958, page 159, Official Records of Brazos County, Texas. (Tract One, Two and Three) Declaration of Access by College Station MarketPlace, L.P., dated February 26, 2009, recorded in Volume 9015, page 285, Official Records of Brazos County, Texas. (Tract Two) Final Plat of Tower Point Subdivision, Phase 1A, executed by College Station MarketPlace, L.P., dated November, 2008, recorded in Volume 9046, paged 34, Official Records of Brazos County, Texas. (1.52 acres out of Tract Two) Special Warranty Deed from College Station MarketPlace, L.P. to First Victoria National Bank, dated April 23, 2009, recorded in Volume 9069, page 190 and corrected in Volume 9077, page 143, Official Records of Brazos County, Texas. (1.52 acres out of Tract Two) Partial Release of Collateral Transfer of Note from Lynn Goode to Timothy J. Crowley, dated April 21, 2009, recorded in Volume 9069, page 181, Official Records of Brazos County, Texas. (1.52 acres out of Tract Two) Partial Release of Lien from Citibank, N.A. to College Station Marketplace, L.P., dated April 21, 2009, recorded in Volume 9069, page 183, Official Records of Brazos County, Texas. (DT 8274-126 1.52 acres out of Tract Two) Partial Release of Lien from Timothy J. Crowley to College Station Marketplace, L.P., dated April 23, 2009, recorded in Volume 9069, page 188, Official Records of Brazos County, Texas. (DT 8274-147 —1.52 acres out of Tract Two) Agreement Regarding Restrictive Covenants by and between College Station MarketPlace, L.P. and First Victoria National Bank, dated April 23, 2009, recorded in Volume 9069, page 197, Official Records of Brazos County, Texas. (Tract Two) Partial Release of Collateral Transfer of Note from Lynn Goode fka Lynn Goode Crowley to Timothy J. Crowley, dated June 12, 2009, recorded in Volume 9152, page 80, Official Records of Brazos County, Texas. (2.14 acres out of Tract Two) Final Plat of Tower Point Subdivision, Phase 1B, executed by College Station MarketPlace, L.P., dated June, 2009, recorded in Volume 9243, paged 134, Official Records of Brazos County, Texas. (2.14 acres out of Tract Two) We do not certify as to property taxes. This certificate is for informational purposes only and the information contained herein shall not be relied on in the issuance of any title insurance policy. The liability of Brazos County Abstract Company in this connection is limited to $00.00, being the charge made for this certificate. 2009. WITNESS OUR HAND at College Station, Texas, this the 3rd day of September, BRAZOS COUNTY ABSTRACT COMPANY BY: i 2Y LISA KEMP rOHM r-t OWNERS POLICY OFTITLE INSURANCE If yca want information about coverage or istance to resolve complaints, please call our t ,mber: 1-800-729-1902. If you make a claim and your policy, you must famish written notice ]ance with Section 3 of the Conditions and Sup..,..,. Visit our World -'•ode Web site at: http://www.stewart.wm ;'OWNER'S POLICY OF TITLE INSURANCE ISSUED BY stewart title guaranty company SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, STEWART TITLE GUARANTY COMPANY, a Texas corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by reason of. 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Any statutory or constitutional mechanic's, contractors, or materialman's lien for labor or material having its inception on or before Date of Policy; 4. Lack of a right of access to and from the land. 5. Lack of good and indefeasible title. The Company also will pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. IN WITNESS WHEREOF, Stewart Title Guaranty Company has caused this policy to be signed and sealed by its duly authorized officers as of the date of Policy shown in Schedule A. i a-stewart Chairman of th Board °� `°m"°°'• President C ersigne I: J ..;'�.t�E euq.g6 .'ems•: • ..: Authors Countersignature -3F2�OeP�Rq��:yja BR S COUNTY ABSTRACT COMPANY 19 o 8�?og Company College Station, Texas City, State EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Comparry will not pay loss or damage, costs, attorneys' fees or expenses which arise by reason of: 1. !a) Any law, ordinance or governmental regulabnn (,including but not limited to building and zoning lawn, ordinances, or regulators) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character, dirrersiCrs or location of any improvement now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or IN) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the pudic records at Date of Policy. (b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking that has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects, liens, encumbrances, adverse claims or other matters: (a) created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in writing to the Company by the insured daimant prior to the date the insured claimant become an insured under this policy; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy; (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 4. The refusal of any person to purchase, lease or lend money on the estate or interest covered hereby in the land described in Schedule A because of unmarketability of the title. 5. Any claim, which arises out of the transaction vesting in the person named in paragraph 3 of Schedule A the estate or interest insured by this policy, by reason of the operation of federal bankruptcy, state insolvency, or other state of federal creditors rights laws, that is based on either (i) the transaction creating the estate or } interest Insured by this Policy being deemed a fraudulent conveyance or fraudulent transfer or a voidable distribution or voidable dividend, (ii) the subordination or recharacterization of the estate or interest insured by this Policy as a result of the application of the doctrine of equitable subcoordination, or (iii) the transaction creating the estate or interest insured by this Policy being deemed a preferential transfer except where the preferential transfer results from the failure of the Company or its issuing agent to timely file for record the instrument of transfer to the insured after delivery or the failure of such recordation to impart notice to o jurchaser for value or a judgment or lien creditor. ®-5841- Serial N.. - - Premium: $34,479.00 1200, 0010 File No.: 144421 STEWART TITLE GUARANTY COMPANY SCHEDULE A POLICY AMOUNT: $8,050,000.00 POLICY DATE: October 4, 2007 at 03:40 PM NAME OF INSURED: COLLEGE STATION MARKETPLACE, L.P. P-C Policy No.: 0-5841-274494 Issued With: M-5842-907824 2. WE INSURE YOUR INTEREST IN THE LAND COVERED BY THIS POLICY IS: FEE SIMPLE 3. TITLE TO THE ESTATE OR INTEREST IN THE LAND IS VESTED IN: COLLEGE S-rATION MARKETPLACE, L.P. 4. LEGAL DESCRIPTION OF THE LAND: TRACT ONE: Field notes of an 89.42 acre tract or parcel of land, lying and being situated in the Robert Stevenson Survey, Abstract No. 54, College Station, Brazos County, Texas, and being part of the 734.96 acre tract described in the deed from Robert B. Waltman and wife, Linda C. Waltman to Timothy J. Crowley, recorded in Volume 1415, Page 74, of the Official Records of Brazos County, Texas, and said 89.42 acre tract being more particularly described as follows: BEGINNING at a '/2" iron rod set at the east comer of a 5.643 acre - Tract 1 described in the deed to College Station Marketplace, L.P. recorded in Volume 6647, Page 207, of the Official Records of Brazos County, Texas, said 'W iron rod lying in the southwest right-of-way line of State Highway No. 6; THENCE along the southwest right-of-way line of State Highway No. 6 as follows: S 47019 17" E for a distance of 785.37 feet to a Yz" iron rod set, S 38° 33' 26" E for a distance of 1214.18 feet, from which a concrete right-of-way marker bears N 190 1S E - 0.3 feet, S 430 30' 26" E for a distance of 103.26 feet to a iron rod set at the north comer of Lot 1, South Park Estates, Phase One according to the plat recorded in Volume 795, Page 259, of the Official Records of Brazos County, Texas; THENCE along the northwest and southwest lines of the beforementioned South Park Estates, as follows: BRAZOS COUNTY ABSTRACT COMPANY 511Authorized Signature STEWART TITLE GUARANTY COMPANY SCHEDULE A File No.: 144421 (Continued) Policy No.: 0-5841-274494 S 280 59' 25" W for a distance of 370,00 feet to the west comer of Lot 2, an 8" creosote post fence comer bears N 220 40' E - 1.0 feet, S 600 58' 37" E for a distance of 138.71 feet to a Yi' iron rod found at the intersection of the southwest line of Lot 2, with the northwest right-of-way line of State Highway No. 40, an 8" creosote fence post bears N 410 55' W -1.61 feet; THENCE along the northwest right-of-way line of State Highway No. 40 as follows: S 460 59' 02 W for a distance of 858.56 feet, a concrete right-of-way marker bears S 480 43' W - 0.25 feet S 50° 47' 22" W for a distance of 974.50 feet to a concrete right-of-way marker found, a 6" creosote post fence comer bears N 200 02' E - 1.5 feet, S 530 41' 54" W for a distance of 177.54 feet to a W' iron rod found marking the most southerly east comer of Arrington Road - 80' right-of-way as shown on the Right-of-way Dedication Arrington Road and 80' Decatur Drive, according to the plat recorded in Volume 7800, Page 12, of the Official Records of Brazos County, Texas, said W' iron rod being the beginning of a transition curve, concave to the north, having a radius of 30.00 feet; THENCE along the east and northeast right-of-way line of Arrington Road, as follows: Westerly along said curve for an arc distance of 51.56 feet to a W iron rod found marking the end of this transition curve, the chord bears N 770 04' 10" W - 45.44 feet, N 27° 50' 14" W for a distance of 449.67 feet to a W' iron rod found marking the beginning of a curve, concave to the east, having a radius of 733.54 feet, Northerly along said curve for an arc distance of 925.36 feet to a Y2" iron rod found marking the end of this curve, the chord bears N 080 17' 59" E - 865.21 feet, N 440 26' 29" E for a distance of 324.06 feet to a iron rod found marking the beginning of a transition curve, (transitioning around a turnabout), having a radius of 50.00 feet, Northeasterly along said curve for an are distance of 55.69 feet to a W iron rod found marking the beginning of a compound curve, concave to the south, having a radius of 300.00 feet, the chord bears N 760 20' 51" E - 52.85 feet, Easteryalong said curve for an arc distance of 146.44 feet to a %" iron rod found marking the end of this curve, the chord bears S 570 43' 26" E - 144.99 feet, S 430 44' 24" E for a distance of 20.00 feet to a W iron rod found, N 46015' 36" E for a distance of 65.00 feet to a W' iron rod found marking the most easterty comer of Arrington Road right-of-way, N 430 44' 24" W for a distance of 20.90 feet to a %z" iron rod found marking the beginning of a curve, concave to the southwest having a radius of 437.00 feet, Northwesterly along said curve, for an arc dstance of 61.71 feet to a iron rod found marling the beginning of a reverse curve, concave to the northeast, having a radius of 84.00 feet, the chord bears N 471 4T 48" W - 61.66 feet, Northwesterly along said curve, for an are distance of 85.90 feet to a W' iron rod found marking the beginning of a reverse curve, concave to the southwest, having a radius of 91.00 feet, the chord bears N 22032' 52" W - 82.20 feet, Northwesterly along said curve, for an arc distance of 122.76 feet to a Yi' iron rod found marking the beginning of a reverse curve, concave to the northeast, having a radius of 384.00 feet, the chord bears N 31° 5T 58" W- 113.66 feet, Northwesterly along said curve for an arc distance of 179.58 feet to a W iron rod found marking the end of this curve, the chord bears N 570 08' 55" W-177.94 feet, STEWART TITLE GUARANTY COMPANY SCHEDULE A File No.: 144421 (Continued) Policy No.: 0-5841-274494 N 43° 45' 05" W for a distance of 522.81 feet to a iron rod found, N 440 06' 42" W for a distance of 384.52 feet to a h" iron rod found marking the beginning of a curve, concave to the northeast, having a radius of 465.00 feet, Northwesterly along said curve, for an arc distance of 102.91 feet to a 1/2" iron rod found marking the end of this curve, the chord bears N 370 46' 18" W - 102.70 feet, N 580 34' 06" E for a distance of 8.72 feet to a ''/z' iron rod found marking the beginning of a curve, concave to the northeast, having a radius of 455.00 feet, Northwesterly along said curve, for an arc distance of 615.13 feet to a %" iron rod found marking the end of this curve, the chord bears N 060 24' 44" E - 569.34 feet, N 450 08' 31" E for a distance of 56.92 feet to a W' iron rod set at the intersection of the southwest line of the beforementioned College Station Marketplace L.P. - 5.643 acre tract, with the southeast right-of-way line of Arrington Road; THENCE along the southwest and southeast lines of the beforementioned College Station Marketplace L.P. - 5,643 acre tract as follows: S 400 20' 30" E for a distance of 229.52 feet to a'h" iron rod set at the beginning of a curve, concave to the north, having a radius of 110.00 feet, Easterly along said curve, for an are distance of 158.90 feet to a i`z" iron rod set at the end of this curve, the chord bears S 810 43' 25" E - 145.44 feet, N 560 53' 40" E for a distance of 249.07 feet to a W iron rod set at the beginning of a curve, concave to the southeast, having a radius of 980.94 feet, Northeasterly along said curve, for an arc distance of 133.56 feet to a'h" iron rod set at the end of this curve, the chord bears N 620 3T 58" E - 133.46 feet, N 660 32' 05" E for a distance of 79.65 feet to a W iron rod set at the beginning of a curve, concave to the southeast, having a radius of 1115.94 feet, Northeasterly along said curve, for an arc distance of 19.32 feet to a W' iron rod set at the end of this curve, the chord bears N 370 45' 04" E - 19.32 feet, N 400 04' 46" E for a distance of 68.07 feet to the PLACE OF BEGINNING, containing 89.42 acres of land, more or less, SAVE AND EXCEPT THEREFROM the following 4.65 acre tract: Field notes of a 4.65 acre tract or parcel of land, lying and being situated in the Robert Stevenson Survey, Abstract No. 54, College Station, Brazos County, Texas, and being part of the 734.96 acre tract described in the deed from Robert B. Waltman and wife, Linda C. Waltman to Timothy J. Crowley, recorded in Volume 1415, Page 74, of the Official Records of Brazos County, Texas, and said 4.65 acre tract being more particularly described as follows: BEGINNING at a W iron rod found marking the most southerly east comer of Arrington Road - 80' right- of-way as shown on the Right-of-way Dedication Arrington Road and 80' Decatur Drive, according to the plat recorded in Volume 7800, Page 12, of the Official Records of Brazos County, Texas, said W iron rod being the beginning of a transition curve, concave to the north, having a radius of 30.00 feet, said'W iron rod also being in the northwest right-of-way of State Highway No_ 40; THENCE along the east and northeast right-of-way line of Arrington Road, as follows: Westerly along said curve for an arc distance of 51.56 feet to a %' iron rod found marking the end of this transition curve, the chord bears N 77" 04' 10" W - 45.44 feet, N 270 5011411 W for a distance of 272.65 feet to a 'h" iron rod set in the centerline of a proposed 40' access easement; STEWART TITLE GUARANTY COMPANY SCHEDULE A File No.: 144421 (Continued) Policy No.: 0-5841-274494 THENCE along the centerline of the proposed 40' access easement, as follows: N 620 09' 26" E for a distance of 170.23 feet to a 'W' iron rod set, N 500 4T 05" E for a distance of 520.16 feet to a %" iron rod set; THENCE S 390 12'55" E for a distance of 278.67 feet to a iron rod set in the northwest right-of-way line of State Highway No. 40; THENCE along the northwest right-of-way of State Highway No. 40, as follows: S 500 4T 22" W for a distance of 535.64 feet to a concrete right-of-way marker found, S 530 41' W W for a distance of 177.54 feet to the PLACE OF BEGINNING, containing 4.65 acres of land, more or less. TRACT TWO: Field notes of a 5.96 acre tract or parcel of land, lying and being situated in the Robert Stevenson Survey, Abstract No. 54, College Station, Brazos County, Texas, and being part of the 734.96 acre tract described in the deed from Robert B. Waltman and wife, Linda C. Waltman to Timothy J. Crowley, recorded in Volume 1415, Page 74, of the Official Records of Brazos County, Texas, and said 5.96 acre tract being more particularly described as follows: COMMENCING at a %' iron rod found at the ell comer of Arrington Road right-of-way as shown on the Right-of-way Dedication Arrington Road and 80' Decatur Drive, according to the plat recorded in Volume 7800, Page 12, of the Official Records of Brazos County, Texas, said W iron rod also being the east comer of a State of Texas Conservation Easement - 38.064 acres, as described in Volume 3926, Page 104, of the Official Records of Brazos County, Texas; THENCE S 390 40' 41" W along the northwest right-of-way line of Arrington Road for a distance of 448.23 feet to a '%" iron rod found marking a 10.09' offset in Arrington Road right-of-way and the PLACE OF BEGINNING of this description; THENCE along the west right-of-way line of Arrington Road - 89 right-of-way, as follows: S 480 47' 19" E for a distance of 10.09 feet to a W' iron rod found marking the beginning of a curve, concave to the east, having a radius of 813.54 feet, Southerly along said curve for an arc distance of 980.45 feet to a 'A" iron rod found marking the end of this curve, the chord bears S 060 41' 10" W - 922.18 feet, S 27° 50' 14" E for a distance of 463.58 feet to a %' iron rod found marking the beginning of a transition curve, concave to the west, having a radius of 30.00 feet, Southerly along said transition curve, for arc distance of 45.28 feet to a W' iron rod found marking the end of this curve in the northwest right-of-way line of State Highway No. 40, the chord bears S 150 24' 07" W - 41.10 feet; THENCE along the northwest right-of-way line of State Highway No. 40, as follows: S 580 38' 28" W for a distance of 156.67 feet to a M' iron rod set, S 630 50' 14" W for a distance of 37.85 feet to a Y2" iron rod found marking the southerly eastern comer of the beforementioned State of Texas Conservation Easement; STEWART TITLE GUARANTY COMPANY SCHEDULE A File No_: 144421 (Continued) Policy No.: 0-5841-274494 THENCE along the east :ine of the beforementioned State of Texas Conservation Easement, as follows: N 41 ° 12' 31" W for a distance of 342.93 feet to a 'W' iron rod found, N 080 21' 19" E for a distance of 333.74 feet to a W iron rod found, N 030 46' 16" E for a distance of 334.39 feet to a W iron rod found, N 13° 30' 32" E for a distance of 82.48 feet to a %z" iron rod found, N 15* 34' 58" W for a distance of 309.86 feet to a '%" iron rod found, N 60° 10' 05" W for a distance of 73.68 feet to a fh" iron rod found, N 06° 09 38" E for a distance of 170.13 feet to a '4" iron rod found, N 490 48' 39" E for a distance of 184.83 feet to a W' iron rod found, S 500 07' 30" E for a distance of 242.17 feet to the PLACE OF BEGINNING, containing 5.96 acres of land, more or less. TRACT THREE: Field notes of a 4.65 acre tract or parcel of land, lying and being situated in the Robert Stevenson Survey, Abstract No. 54, College Station, Brazos County, Texas, and being part of the 734.96 acre tract described in the deed from Robert B. Waltman and wife, Linda C. Waltman to Timothy J. Crowley, recorded in Volume 1415, Page 74, of the Official Records of Brazos County, Texas, and said 4.65 acre tract being more particularly described as follows: BEGINNING at a %d' iron rod found marking the most southerly east comer of Arrington Road - 80' right- of-way as shown on the Right-of-way Dedication Arrington Road and 80' Decatur Drive, according to the plat recorded in Volume 7800, Page 12, of the Official Records of Brazos County, Texas, said W iron rod being the beginning of a transition curve, concave to the north, having a radius of 30.00 feet, said'Y2" iron rod also being in the northwest right-of-way of State Highway No. 40; THENCE along the east and northeast right-of-way line of Arrington Road, as follows: Westerly along said curve for an arc distance of 51.56 feet to a W' iron rod found marking the end of this transition curve, the chord bears N 770 04' 10" W - 45.44 feet, N 27° 50' 14" W for a distance of 272.65 feet to a W iron rod set in the centerfine of a proposed 40' access easement; THENCE along the centertine of the proposed 40' access easement, as follows: N 620 09' 26" E for a distance of 170.23 feet to a 'Yi' iron rod set, N 50° 47' 05" E for a distance of 520.16 feet to a '%" iron rod set; THENCE S 39012' S5" E for a distance of 278.67 feet to a W iron rod set in the northwest right-of-way line of State Highway No. 40; THENCE along the northwest right-of-way of State Highway No. 40, as follows: S 500 47' 22" W for a distance of 535.64 feet to a concrete right-of-way marker found, S 530 41' 54" W for a distance of 177.54 feet to the PLACE OF BEGINNING, containing 4.65 acres of land, more or less. STEWART TITLE GUARANTY COMPANY SCHEDULE A File No.: 144421 (Continued) Policy No.: 0-5841-274494 TRACT FOUR: Field notes of a 17.65 acre tract or parcel of land, lying and being situated in the Robert Stevenson Survey, Abstract No. 54, College Station, Brazos County, Texas, and being part of a 17.83 acre tract described in the deed from Spring Creek CS Development, Ltd. to College Station Marketplace, L.P. recorded in Volume 7188, Page 210, of the Official Records of Brazos County, Texas, and said 17.65 acre tract being more particularly described as follows: BEGINNING at the 14" iron rod set in the common line between the beforementioned 17.83 acre tract and a 38.064 acre State of Texas Conservation easement described in Volume 3926, Page 104, of the Official Records of Brazos County, Texas, the east comer of the said 17.83 acre tract bears N 420 31' 10" E -11.3 feet, the P. I. intersection of the said conservation easement, bears S 420 31' 10" W - 0,84 feet, said W' iron rod also being in the southwest right-of-way line of Arrington Road according to the Right-of- way Dedication of Arrington Road & 80' Wide Decatur Drive plat recorded in Volume 7800, Page 12, of the Official Records of Brazos County, Texas; THENCE along the common line between the beforementioned 17.83 acre tract and the 38.064 acre tract, as follows: S 420 31' 10" W for a distance of 146.85 feet to a ''/2" iron rod set, S 320 28' 32" W for a distance of 226.62 feet to a ''Y2" iron rod set, S 230 47' 06" W for a distance of 156.94 feet to a'A" iron rod set, S 78018' 50" W for a distance of 208.00 feet to a '/2" iron rod set, S 450 33' 29" W for a distance of 419.89 feet to a W' iron rod set, N 71016' 30" W for a distance of 60.31 feet to a %" iron rod set, N 590 10'53" W for a distance of 353.17 feet to a Y2" iron rod set at the common comer between the said 38.064 acre tract and a 50.15 acre tract described in the deed to the City of College Station, recorded in Volume 6974, Page 241, of the Official Records of Brazos County, Texas; THENCE along the common line between the beforementioned 17.83 acre tract and the 60.15 acre tract, as follows: N 170 20' 05" W for a distance of 24.61 feet to a YV iron rod set, N 890 45' 46" W for a distance of 146.28 feet to a W' iron rod set at the west comer of the said 17.83 acre tract, and in the northwest line of a 20' wide City of College Station Sanitary Sewer easement, recorded in Volume 4328, Page 164, of the Official Records of Brazos County, Texas; THENCE along the southwest line of the beforementioned 17.83 acre tract, as follows: N 540 07' 28" E for a distance of 284.24 feet to a '%" iron rod set, N 480 06' 10" E for a distance of 32.43 feet to a'/2" iron rod set, a 4" creosote post bears S 440 23' 07" W - 10.9 feet, N 370 40' 36" W for a distance of 22.77 feet to a W iron rod set, a chain link fence post bears N 460 03' 02" W - 12.9 feet, N 400 55' 13" Efor a distance of 188.74 feet to a W iron rod set, from which a chain link fence post bears N 460 03 14" W - 13.0 feet, N 470 4T 16" W for a distance of 322.45 feet to a W iron rod set, a chain link fence post bears N 45147' 39" W - 12.9 feet N 040 45' 33" E for a distance of 70.63 feet to a Y2" iron rod set in a curve, concave to the north, having a radius of 615.00 feet, same being the south right-of-way line of Decatur Drive - 80' right-of-way, according STEWART TITLE GUARANTY COMPANY SCHEDULE A File No.: 144421 (Continued) Policy No.: 0-5841-274494 to the beforementioned Right-of-way Dedication of Arrington Road & 80' Wide Decatur Drive; THENCE along the south right-of-way line of Decatur Drive - 80' right-of-way, as follows: Easterly along said curve, for an arc distance of 313.43 feet to a W' iron rod found marking the end of this curve, the chord bears N W 09 34" E - 310.05 feet, N 650 33' 33" E for a distance of 554.18 feet to a %" iron rod found marking the beginning of a transition curve from Decatur Drive to Arrington Road, having a radius of 30.00 feet, Easterly along said transition curve for an arc distance of 43.46 feet to a Y? iron rod set in a curve, concave to the northeast, having a radius of 545.00 feet, the chord bears S 720 56' 11" E - 39.76 feet, Southeasterly along Arrington Road for an arc distance of 120.61 feet to a %" iron rod found marking the end of this curve, the chord bears S 370 46 18" E - 120.37 feet, S 440 06 42" E for a distance of 357.40 feet to the PLACE OF BEGINNING, containing 17.65 acres of land, more or less. STEWART TITLE GUARANTY COMPANY SCHEDULE B File No.: 144421 Policy No.: 0-5841-274494 EXCEPTIONS FROM COVERAGE THIS POLICY DOES NOT INSURE AGAINST LOSS OR DAMAGE (AND THE COMPANY WILL NOT PAY COSTS, ATTORNEYS' FEES OR EXPENSES) THAT ARISE BY REASON OF THE TERMS AND CONDITIONS OF THE LEASES OR EASEMENTS, IF ANY, SHOWN IN SCHEDULE A AND THE FOLLOWING MATTERS: 1. THE FOLLOWING RESTRICTIVE COVENANTS OF RECORD ITEMIZED BELOW (THE COMPANY MUST EITHER INSERT SPECIFIC RECORDING DATA OR DELETE THIS EXCEPTION): Item No. 1 is hereby deleted in its entirety. 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. 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. 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. 6. THE FOLLOWING MATTERS AND ALL TERMS OF THE DOCUMENT CREATING OR OFFERING EVIDENCE OF THE MATTERS (WE MUST INSERT MATTERS OR DELETE THIS EXCEPTION.): a. Vendor's Lien retained in Deed dated October 3, 2007, executed by Timothy J. Crowley to College Station Marketplace, L.P., securing the payment of one note of even date therewith in the principal amount of $8,050,000.00, payable to Citibank, N.A., and said note being additionally secured bydeed of trust with security agreement and assignments of even date therewith to Mark A. Mesec, Trustee, said Deed of Trust filed for record in the Office of the County Clerk of Brazos County, Texas, on October 4, 2007, under Clerk's File No. 978553 and recorded in Volume 8274, page 126, Official Records of Brazos County, Texas, and being subject to all of the terms, conditions and stipulations contained in said note and deed of trust. b. Vendor's Lien retained in Deed dated October 3, 2007, executed by Timothy J. Crowley to College Station Marketplace, L.P., securing the payment of one note of even date therewith in the principal amount of $2,000, 000.00, payable to Timothy J. Crowley, and said note being additionally secured by deed of trust of ever, date therewith to Charles A. Ellison, Trustee, said Deed of Trust filed for record in the Office of the County Clerk of Brazos County, Texas, on October 4, 2007, under Clerk's File No. CERTIFICATE OF AUTHORITY I, the undersigned, sole Director and President of CROWLEY DEVELOPMENT CORPORATION, a Texas corporation (the "Corporation'), does hereby certify that (i) the Corporation is duly organized and existing under the laws of the State of Texas: that all franchise and other taxes required to maintain its Corporation existence have been paid when due and that no such taxes are delinquent; that no proceedings are pending for the forfeiture of its Certificate of Incorproation or for its dissolution, voluntarily or involuntarily; that it is fully qualified and in good standing to do business in all jurisdictions in which the nature of its business requires it to be qualified; that there is no provision of the Articles of Incorproation or Bylaws of the Corporation limiting the power of the officers to pass the resolutions set forth below: (ii) that the Corporation is a general partner of COLLEGE STATION MARKETPLACE, L.P. (the "Partnership") and that the Partnership is a limited partnership duly organized and existing under the laws of the State of Texas and is authorized to do business in the State of Texas; and (iii) that on the 21 st day of January, 2009, at a meeting of the Directors of said Corporation duly and regularly called and held in accordance vrt` the Bylaws of said Corporation and the law, the following resolutions were unanimously adopted and recorded in the minutes of the books of said Corporation kept by me and are in accord with and pursuant to the Articles of Incorporation and Bylaws of said Corporation and are now in full force and effect, to -wit: WHEREAS, COLLEGE STATION MARKETPLACE, L.P. is the owner of certain real property located in the R. Stevenson Survey, College Station, Brazos County, Texas, which is commonly known as Tower Point (the 'Property"); and WHEREAS, COLLEGE STATION MARKETPLACE, GP, LLC and CROWLEY DEVELOPMENT CORPORATION, as General Partners of COLLEGE STATION MARKETPLACE, L.P. are developing the Property; and WHEREAS, the General Partners and the Partnership have agreed to authorize CHARLES A. ELLISON to execute (i) any and applications and requests related to the development of the Property and (ii) any and ail easement documents necessary or convenient for the development of the Property. NOW, THEREFORE, BE IT RESOLVED, that TIMOTHY J. CROWLEY. as sole Director of the Corporation and as General Partner of the Partnership, authorize and direct CHARLES A. ELLiSON to execute (i) any and applications and requests related to the development of the Property and (ii) any and all easement documents necessary or convenient for the development of the Property, on behalf and in the name of the Partnership; RESOLVED FURTHER, That the sole Director of the Corporation is directed to ce, of y the Minutes of this meeting and the contents of these resolutions and to deliver such certification in support of the authority to act on behalf of the Corporation, as general partner of the Partnership. RESOLVED FURTHER, that the foregoing powers and authorities shall continue in full force and effect until written notice or revocation has been given. I further certify that the following is the duly elected and incumbent sole Director of the Corporation and that the true and correct signature of the individual authorized to act on behalf of said Director is as set forth beside his name: PRINT NAME TITLE TIMOTHY J. CROWLEY Director IN WITNESS WHEREOF, I have hereunto Corporation effective the 21 st day of January, 2009. THE STATE OF TEXAS § COUNTY OF%� § by hand as the Sole Director of the Tlk*fFWT. CA"LEY, Sole Director of CROWLEY DEVELOPMENT CORPORA a Texas Corporation (ACKNOWLEDGMENT) This instrument was acknowledged before me on theoQ day of January, 2009, by TIMOTHY J. CROWLEY, sole Director of CROWLEY DEVELOPMENT CORPORATION, a Texas Corporation, on behalf of said Corporation. �Re"y"adz MARIA NORA VALERIO _ Notary Public. State of Texas `-` My Commission Expires Moroh 03, 2010 Notary Public, State of Texas CERTIFICATE OF AUTHORITY We, the undersigned, Managers of COLLEGE STATION MARKETPLACE. GP, LLC. a Texas limited liability company (the "Company), do hereby certify that (i) the Company is duly organized and existing under the laws of the State of Texas: that all franchise and other taxes required to maintain its company existence have been paid when due and that no such taxes are delinquent; that no proceedings are pending for the forfeiture of its Certificate of Organization or for its dissolution, voluntarily or involuntarily; that it is fully qualified and in good standing to do business in all jurisdictions in which the nature of its business requires it to be qualified; that there is no provision of the Articles of Organization or Regulations of the Company limiting the power of the Managers to pass the resolutions set forth below: (ii) that the Company is a general partner of COLLEGE STATION MARKETPLACE, L.P. (the "Partnership") and that the Partnership is a limited partnership duly organized and existing under the laws of the State of Texas and is authorized to do business in the State of Texas; and (iii) that on the 21 st day of January, 2009, at a meeting of the Managers of said company duly and regularly called and held in accordance with the Regulations of said company and the law, the following resolutions were unanimously adopted and recorded in the minutes of the books of said company kept by me and are in accord with and pursuant to the Articles of Organization and Regulations of said company and are now in full force and effect, to -wit: WHEREAS, COLLEGE STATION MARKETPLACE, L.P. is the owner of certain real property located in the R. Stevenson Survey, College Station, Brazos County, Texas, which is commonly known as Tower Point (the "Property"); and WHEREAS, COLLEGE STATION MARKETPLACE, GP. LLC and CROWLEY DEVELOPMENT CORPORATION, as General Partners of COLLEGE STATION MARKETPLACE, L.P. are developing the Property; and WHEREAS, the General Partners and the Partnership have agreed to authorize CHARLES A. ELLISON to execute (i) any and applications and requests related to the development of the Property and (ii) any and all easement documents necessary or convenient for the development of the Property. NOW, THEREFORE, BE IT RESOLVED, that ANDY WEINER and BRADLEY F. SCHLOSSER. as Managers of the Company and as General Partner of the Partnership, authorize and direct CHARLES A. ELLISON to execute (i) any and applications and requests related to the development of the Property and (ii) any and all easement documents necessary or convenient for the development of the Property, on behalf and in the name of the Partnership; RESOLVED FURTHER, that the Managers of the Company are directed to certify the Minutes of this meeting and the contents of these resolutions and to deliver such certification in support of the authority to act on behalf of the Company. as general partner of the Partnership. RESOLVED FURTHER, that the foregoing powers and authorities shall continue in full force and effect until written notice or revocation has been given. We further certify that the following is the duly elected and incumbent managers of the Company authorized to act on behalf of said Company is as set forth: PRINT NAME TITLE ANDY WEINER Manager BRADLEY F. SCHLOSSER Manager ,'tip_,.._, IN WITNESS WHEREOF. we have hereunto subscribed by hand by order of the Managers effective the sf day of January. 2009. SIGNATURES ON THE FOLLOWING PAGES � 3 6Gt�NA vULK ?r-OFEOLLEGE __Ei ER, ManagSTATION ARKETP ACE, GP, LLC. a Texas limited liability company THE STATE OF TEXAS § (ACKNOWLEDGMENT) COUNTY OF HARRIS This instrument was acknowledged before me on the 9-_ day of January, 2009, by ANDY WEINER, Manager of COLLEGE STATION MARKETPLACE, GP, LLC, - Te as limited liability company, on behalf of said company. i� 4Notaryb ic, State of Texas THE STATE OF TEXAS § COUNTY OF TRAVIS § BRADLEY F. SCHLOSSER, Manager of COLLEGE STATION MARKETPLACE, GP, LLC, a Texas limited liability company (ACKNOWLEDGMENT) This instrument was acknowledged before me on the L� day of January, 2009, by BRADLEY F. SCHLOSSER. Manager of COLLEGE STATION MARKETPLACE, GP, LLC, a Texas limited liability company, on behalf of said company. Notary Public, State of Texas LISA ROSE Notary Public, State of ' Texas My Commission Expires March 08, 2009