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HomeMy WebLinkAboutTitle InsuranceTHE FOLLOWING COMMITMENT FOR TITLE INSURANCE IS NOT VALID UNLESS YOUR NAME AND THE POLICY AMOUNT ARE SHOWN IN SCHEDULE A, AND OUR AUTHORIZED REPRESENTATIVE HAS COUNTERSIGNED BELOW. We (Old Republic National Title Insurance Company) will Issue our title insurance policy or policies (the Policy) to You (the proposed insured) upon payment of the premium and other charges due, and compliance with the requirements in Schedule B and Schedule C. Our Policy will be In the form approved by the Texas Department of Insurance at the date of issuance, and will insure your interest in the land described In Schedule A. The estimated premium for our Policy and applicable endorsements. is shown on Schedule D. There may be additional charges such as recording fees, and expedited delivery expenses. This Commitment ends ninety (90) days from the effective date, unless the Policy is Issued sooner, or failure to issue the Policy is our fault. Our liability and obligations to you are under the express terms of this Commitment and end when this Commitment expires, AGGIELAN❑ TITLE COMPANY 3740 Copper -field Dr., Suite 101 Bryan, TX 77802 979 / 731.8400 &�p;_ +,-yid=—. Authorized SiAlory FORM: ORT 2067 Commitment for We Insurance IEffective 1111109 OLD REPUBLIC NATIDNAL TITLE INSURANCE COMPANY A Stock Company 400 Second Avenue South, Mmneapols, Minnesota 65401 - (612) 371.1111 President Attest % Secretary e CONDITIONS AND STIPULATIONS 1. It you have actual knowledge of any matter which may effect the We or mortgage covered by this Commitment, that Is not shown In Schedule B, you must notify us in wdling: it you do not noU(y us in willing, our flablllty to you is ended or reduced to the extent that your failure to notify us affects our Ilablllty. If you do notify us, or we loam of such matter, .we may amend Schedule B, but we will not be relieved of Ilablllty already incurred. 2. Our Ilablllty Is only to you, and others who are included in the deilNUon of Insured In the Policy to be Issued. Our Ilablllty Is only for actual loss Incurred in your reliance on this Commitment to comply with Its requirements or to acquire the Interest in the land. Our liability Is limited to, the amount shown In Schedule A of this Commitment and will be subject to the following terms of the Policy: Insuring Provisions, Conditions and Stipulations, Exceptions and Exclusions. i I "WC) a �v COMMITMENT FOR TITLE INSURANCE Issued By Old Republic National Title Insurance Company Effective Date: July 5, 2011, 7:00 am - OF No. 26919 Commitment No, issued July 11, 2011,10:30 am The policy or policies to be issued are: (a) OWNER'S POLICY OF TITLE INSURANCE (Form T-1) (Not applicable for improved one -to -four family residential real estate) Policy Amount: $136,900.00 PROPOSED INSURED: Brett Behrend and Becky Behrend (b) TEXAS RESIDENTIAL OWNER'S POLICY OF TITLE INSURANCE - ONE -TO -FOUR FAMILY RESIDENCES (Form T-IR) Policy Amount: PROPOSED INSURED: (c) LOAN POLICY OF TITLE INSURANCE (Form T-2) Policy Amount: $109,520.00 PROPOSED INSURED: First National Bank Proposed Borrower: Brett Behrend and Becky Bebrend (d) TEXAS SHORT FORM RESIDENTIAL LOAN POLICY OF TITLE INSURANCE (Form T-2R) Policy Amount: PROPOSEDINSURED: Proposed Borrower: (e) LOAN TITLE POLICY BINDER ON INTERIM CONSTRUCTION LOAN (Form T-13) Binder Amount: PROPOSED INSURED: Proposed Borrower: (i) OTHER Policy Amount: PROPOSED INSURED: 2. The interest in the land covered by this Commitment is: Fee Simple 3. Record title to the land on the Effective Date appears to be vested in: B. A. Cathay, LTD 4, Legal description of the land: All that certain tract or parcel of land lying and being situated in the ROBERT STEVENSON LEAGUE, Abstract No. 54, in the City of College Station, Brazos County, Texas, and being a portion of that called 4.523 acres tract described in the deed dated May 23, 2005 from Dennis B. Herd, et ux to Steven J. Brock, et ux, recorded in Volume 6686, Page 70 of the Official Public Records of Brazos County, Texas, and further being a portion of that called 4.931 acres tract described in the deed dated February 26, 2010 from Steven J. Brock and Sharon Brock to B. A. Cathey, LTD recorded in Volume 9516, Page 268 of said Official Public Records. A FIELD NOTE DESCRIPTION AND SURVEY OF THE PROPERTY INTENDED TO BE CONVEYED TO BE PROVIDED. FORM T-7: Commitment for Title Insurance Pogo I COMMITMENT FOR TITLE INSURANCE Issued By Old Republic National Title Insurance Company SCHEDULEB EXCEPTIONS FROM COVERAGE In addition to the Exclusions and Conditions and Stipulations, your Policy will not cover loss, costs, attorneys' fees, and expenses resulting from: 1. to or ate- �-t„«...his exception): 2. Any discrepancies, conflicts, or shortages in area or boundary lines, or any encroachments or protrusions, or any overlapping of improvements. Upon Company's receipt, review and approval of a current land title survey, and payment of any promulgated premium, this item can be amended to read in its entirety 'shortages in area'." 3. Homestead or community property or survivorship rights, if any, of any spouse of any insured. (Applies to the Owner's Policy only.) 4. Any titles or rights asserted by anyone, including, but not limited to, persons, the public, corporations, governments or other entities, a, to tidelands, or lands comprising the shores or beds of navigable or perennial rivers and streams, lakes, bays, gulfs or oceans, or b. to lands beyond the line of harbor or bulkhead lines as established or changed by any government, or C. to filled -in lands, or artificial islands, or d. to statutory water rights, including riparian rights, or e. to the area extending from the line of mean low tide to the line of vegetation, or the rights of access to that area or easement along and across that area. (Applies to the Owner's Policy only.) 5. Standby fees, taxes and assessments by any taxing authority for the year 2010, and subsequent years; and subsequent taxes and assessments by any taxing authority for prior years due to change in land usage or ownership, but not those taxes or assessments for prior years because of an exemption granted to a previous owner of the property under Section 11.13, Texas Tax Code, or because of improvements not assessed for a previous tax year. (If Texas Short Form Residential Loan Policy (T-2R) is issued, that policy will substitute "which become due and payable subsequent to Date of Policy" in lieu of "for the year_ and subsequent years.") 6. The terms and conditions of the documents creating your interest in the land. 7. Materials furnished or labor performed in connection with planned construction before signing and delivering the lien document described in Schedule A, if the land is part of the homestead of the owner. (Applies to, the Loan Title Policy Binder on Interim Construction Loan only, and may be deleted if satisfactory evidence is furnished to us before a binder is issued.) 8. Liens and leases that affect the title to the land, but that are subordinate to the lien of the insured mortgage, (Applies to Loan Policy (T-2) only.) FORM T-7: Commitment for Title Insurance Page 2 Continuation of Schedule B GF No. 26919 9. The Exceptions from Coverage and Express Insurance in Schedule B of the Texas Short Form Residential Loan Policy (T- 2R). (Applies to Texas Short Form Residential Loan Policy (T-2R) only. Separate exceptions 1 through 8 of this Schedule B do not apply to the Texas Short Form Residential Loan Policy (T-2R). 10. The following matters and all terms of the documents creating or offering evidence of the matters (We must insert matters or delete this exception.): a. Easements or claims of easements which are not recorded in the public records of Brazos County, Texas. b. Blanket Easement granted to Sinclair Refining Company by Abraham Hensarling and wife, Mary Hensarling as set out in instrument dated April 15, 1947, recorded in Volume 132, Page 111 of the Deed Records of Brazos County, Texas, C. Blanket Easement granted to Lone Star Gas Compaary Hensarling Stevens and husband, S. M. Stevens as set out in instrument dated December 18, 2050, ecorded In Volume 148, Page 40 of the Deed Records of Brazos County, Texas. d. Easement granted to Wellborn Water Supply Corporation by Don Dillon and D. Brooks Cofer, Jr., dba Cofer & Dillon as set out In instrument dated October 6, 1965, recorded in Volume 254, Page 292 of the Deed Records of Brazos County, Texas. e. Easement granted to City of College Station by Steven J. Brock and wife, Sharon Brock as set out in instrument dated September 25, 2009, recorded in Volume 9328, Page 186 of the Official Public Records of Brazos County, Texas. f. Royalty interest in the oil, gas and other minerals in and under the herein described property reserved in deed from Delbert O. Black and wife, Wilma J. Black to Dennis B. Herd and wife, Esther C. Herd dated October 15, 1979, recorded in Volume 436, page 43, Deed Records of Brazos County, Texas. Title to this interest not investigated subsequent to date of said instrument. g. Estate created by oil, gas and mineral lease granted to Jordan Engineering, Inc. by Delbert O. Black and Wilma June (Billie) Black by instrument dated April 19, 1979, recorded in Volume 35, Page 457 of the Oil, Gas and Mineral Lease Records of Brazos County, Texas, and all terms, conditions and stipulations contained therein. Title to this lease has not been investigated subsequent to date thereof. b. All leases, grants, exceptions or reservations of coal, lignite, oil, gas and other minerals, together with all rights, privileges and immunities relating thereto, appearing in the Public Records whether listed in Schedule B or not. There may be leases, grants, exceptions or reservations of mineral interest that are not listed. 1. Rights of parties in possession. FORM T-7: Commitment for Title Insurance Page 3 CONINHTNIENT FOR TITLE INSURANCE Issued By Old Republic National Title Insurance Company SCHEDULE C Your Policy will not cover loss, costs, attorneys' fees, and expenses resulting from the following requirements that will Appear as Exceptions in Schedule B of the Policy, unless you dispose of these matters to our satisfaction, before the date the Policy is issued: 1. Documents creating your title or interest must be approved by us and must be signed, notarized and filed for record. 2. Satisfactory evidence must be provided that: a. no person occupying the land claims any interest in that land against the persons named in paragraph 3 of Schedule A, b, all standby fees, taxes, assessments and charges against the property have been paid, C. - all improvements or repairs to the property are completed and accepted by the owner, and that all contractors, subcontractors, laborers and suppliers have been fully paid, and that no mechanic's, laborer's or materialmen's liens have attached to the property, d. there is legal right of access to and from the land, C. (on a Loan Policy only) restrictions have not been and will not be violated that affect the validity and priority of the insured mortgage. 3. You must pay the seller or borrower the agreed amount for your property or interest. 4. Any defect, lien or other matter that may affect title to the land or interest insured, that arises or is filed after the effective date of this Commitment. 5. Provide a survey and field notes prepared by or under the supervision of a Registered Professional Land Surveyor for the property intended to be conveyed for our review prior to closing. We reserve the right to make additional exceptions or requirements upon our review of the survey. 6. NOTE: The Policy of Title Insurance to be issued under this Commitment for Title Insurance provides for arbitration which is a common form of alternative dispute resolution. The rules of the Texas Department of Insurance allow you to request that such provision be deleted from the Policy at no additional charge to you. Unless you notify us prior to settlement that you wish to have the Arbitration Provision deleted it will be in the Policy which we issue to you. (Not applicable to Texas Residential Owner Policy) Countersigned Aggieland Title Company By �Baa t FORM T-7: Commitment for Title Insurance page 4 COMMiTrdENT FOR TITLE INSURANCE SCHEDULE D OF No. 26919 Effective Date: July 5, 2011, 7:00 am Pursuant to the requirements of Rule P-21, Basic Manual of Rules, Rates and Forms for the writing of Title Insurance in the State of Texas, the following disclosures are made: 1. The following individuals are directors and/or officers, as indicated, of the Title Insurance Company issuing this Commitment . DIRECTORS OF OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY HARRINGTON BISCHOF JOHN M. DIXON JOHN W.POPP ARNOLD L. STEINER A. C. ZUCARO STEVE R. WALKER DENNIS P. VAN MIEGHEM JAMES A. KELLOGG RANDE K. YEAGER CHARLES F. TITTERTON LEO E. KNIGHT, JR. FREDERICKA TAUBITZ OFFICERS OF OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY RANDS K. YEAGER Chairman, CEO STEPHEN C. WILSON Executive Vice President, Vice Chairman GARYJ.HORN Executive Vice President, CFO PATRICK A. CONNOR Executive Vice President MIKE TARPEY Vice President and Treasurer MARK BILBREY President MARK M. BUDZINSKI Executive Vice President ROBERT J. CHAPMAN Executive Vice President R. WAYNE SHUPE Executive Vice President DANIEL M. WOLD Sr. Vice President, Secretary, General Counsel 2. The following disclosures are made by the Title Insurance Agent issuing this Commitment: Owners Directors Officers William S. Thornton, Jr. William S. Thornton, Jr. William S. Thornton, Jr, President J. Fred Bayliss Page D. Thornton, Secretary Page D. Thornton, Treasurer 3. You are entitled to receive advance disclosure of settlement charges in connection with the proposed transaction to which this commitment relates. Upon your request, such disclosure will be made to you. Additionally, the name of any person, firm or corporation receiving a portion of the premium from the settlement of this transaction will be disclosed on the closing or settlement statement. You are further advised that the estimated title premium is: Owner's Policy Loan Policy Endorsement Charges Other Total $1,040.00 $100.00 $0.00 $0.00 $1,140.00 Of this total amount: 15% will be paid to the policy issuing Title Insurance Company: 85% will be retained by the issuing Title Insurance Agent; and the remainder of the estimated premium will be paid to other parties as follows: Amount To Whom For Services 11 .The estimated premium is based upon information furnished to us as of the date of this Commitment for Title Insurance. Final determination of the amount of the premium will be made at closing in accordance with the Rules and Regulations adopted by the Commissioner of Insurance." FORM T-7: Commitment for Title Insurance Page I DELETION OF ARBITRATION PROVISION (Not applicable to the Texas Residential Owner's Policy) Arbitration is a common form of alternative dispute resolution. It can be a quicker and cheaper means to settle a dispute with your Title Insurance Company. However, if you agree to arbitrate, you give up your right to take the Title Company to court and your rights to discovery of evidence may be limited in the arbitration process. In addition, you cannot usually appeal an arbitrator's award. Your policy contains an arbitration provision (shown below). It allows you or the Company to require arbitration if the amount of insurance is $2,000,000 or less. If you want to retain your right to sue the Company in case of a dispute over a claim, you must request deletion of the arbitration provision before the policy is issued. You can do this by signing this form and returning it to the Company at or before the closing of your real estate transaction or by writing to the Company. The arbitration provision in the Policy is as follows: "Either the Company or the Insured may demand that the claim or controversy shall be submitted to arbitration pursuant to the Title Insurance Arbitration Rules of the American Land Title Association ("Rules"). Except as provided in the Rules, there shall be no joinder or consolidation with claims or controversies of other persons. Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the Insured arising out of or relating to this policy, any service in connection with its issuance or the breach of a policy provision, or to any other controversy or claim arising out of the transaction giving rise to this policy. All arbitrable matters when the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured, unless the Insured is an individual person (as distinguished from an Entity). All arbitrable matters when the Amount of Insurance is in excess of $2,000,000 shall be arbitrated only when agreed to by both the Company and the Insured. Arbitration pursuant to this policy and under the Rules shall be binding upon the parties. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court of competent jurisdiction." SIGNATURE DATE FORMT-7t Commitment for Title Insurance Pagel Old Republic National Title Insurance Company Premium Amount Rate Rules Property County Liability at Type Code Reissue Rate 1 2 3 4 5 6 7 8 $1,140.00 1200 _ 41 3210 * * AGGIELAND TITLE COMPANY * * Privacy Policy Notice PURPOSE OF THIS NOTICE Title V of the Gramm -Leach -Bliley. Act (GLBA) generally prohibits any financial Institution, directly or through Its affiliates, from sharing nonpublic personal Information about you with a nonaffiliated third party unless the institution provides you with a notice of Its privacy policies and practices, such as the type of Information that It collects about you and the categories of persons or entitles to whom It may be disclosed. In compliance with the GLBA, we are providing you with this document, which notifies you of the privacy policies and practices of OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY AND AGGIELAND TITLE. We may collect nonpublic personal Information about you from the following sources: Information we receive from you such as on applications or other forms. Information about your transactions we secure from our files, or from our affiliates or others. Information we receive from a consumer reporting agency. Information that we receive from others Involved in your transaction, such as the real estate agent or lender. Unless it is specifically stated otherwise In an amended Privacy Policy Notice, no additional nonpublic personal Information will be collected about you. We may disclose any of the above information that we collect about our customers or former customers to our affiliates or to nonaffiliated third parties as permitted by law. . We also may disclose this Information about our customers or former customers to the following types of nonaffiliated companies that perform services on our behalf or:wlth whom we have joint marketing agreements: Financial service providers such as companies engaged In banking, consumer finance, securities and Insurance. Non -financial companies such as envelope stuffers and other fulfillment service providers. WE DO NOT DISCLOSE ANY NONPUBLIC PERSONAL INFORMATION ABOUT YOU WITH ANYONE FOR ANY PURPOSE THAT IS NOT SPECIFICALLY PERMITTED BY LAW. We restrict access to nonpublic personal Information about you to those employees who need to know that Information In order to provide products or services to you. We maintain physical, electronic, and procedural safeguards that comply with federal regulatlons to guard your personal Information. M 4- OLD PX,PUBLIC r • wm.�n.i�.N .cmro.�y sE r. TEXAS TITLE INSURANCE INFORMATION Title Insurance Insures you against loss resulting from certain risks to your title. The Commitment for Title Insurance Is the title Insurance company's promise to Issue the title Insurance policy. The Commitment is a legal document. You should review It carefully to completely understand It before your closing date, El seguro de titulo Is asegura en relacidn a p6rdidas resultentes de ciertos riesgos quo pueden afectar at titulo de su propledad. El Compromiso para Seguro deTftulo as la promesa de Is co.mPania aseguradora de titulos de emitlr.la poliza de seguro de titulo. El Compromiso as un documento legal, Usted dabs leerlo culdadosamente y entenderlo completemente antes de Is fecha para. flnalizar su transaccidn, Your Commitment for Titie Insurance Is a legal contract between you and us. The Commitment is not an opinion or report of your title. it Is a contract to Issue you a policy subject to the Commitment's terms and requirements. Before Issuing a Commitment forTltle Insurance (the Commitment) or aTltlo Insurance Policy (the Policy), the TTtle Insuance Company (the Company) determines whether the title is Insurable. This determination has already been made. Part of that determination involvesthe Company's decision to Insure the title except for certain risks that wlil not be covered by the Policy. Some of these risks are listed In Schedule B of the attached Commitment as Exceptions. Other risks are stated In the Policy as Exclusions. These risks will not be covered by the Policy. The Policy is not an abstract of title nor does a Company have an obligation to determine the ownership of any mineral Interest. — MINERALS AND MINERAL RIGHTS may not be covered by the Policy. The Company may be unwilling to Insure title unless there Is an exclusion Cron exception as to Minerals and Mineral Rights In the Policy. Optional endorsements Insuring certain risks Involving minerals, and the use of Improvements (excluding lawns, shrubbery and trees) and permanent buildings may be available for purchase. If the title Insurer Issues the title Polley with an exclusion orexception to the minerals and mineral rights, nelther.thls Polley, nor the optional endorsements, ensure that the purchaser has title to the mineral rights related to the surface estate. Another part of the determination Involves whether the promise to Insure Is conditioned upon certain requirements being met. Schedule C Of the Commitment lists these requirements that must be satisfied or the Company will refuse to cover them. You may want to discuss any matters shown In Schedules B and.0 of the Commitment with an attomey. These matters will affect your title and your use of the land. when your policy Is Issued, the coverage will be limited by the Policy's Exceptions, Exclusions and Conditions, defined below. — EXCEPTIONS are title risks that a Policy generally covers but does not cover in a particular Instance. Exceptions are shown on Schedule B or discussed in Schedule C of the CommllmenL They can also be added if you do not Comply with the Conditions section of the Commitment. When the Polley Is Issued, all Exceptions will be on Schedule B of the Policy. — EXCLUSIONS are title risks that a Policy generally does not cover. Exclusions are contained In the Polley but not shown or discussed in the Commitment. — CONDITIONS are additional provisions that qualify or limit your coverage. Conditions Include your responsibilities and those of the Company. They are contained In the Policy but not shown or discussed in the Commitment. The Policy Conditions are not the same as the Commitment Conditions. You can get a copy of the policy form approved by theTexas Department of Insurance by calling the Title Insurance Company at 1.888-678-1700 or by calling the title Insurance agent that Issued the Commitment The Texas Department of Insurance may revise the Polley form from time to time. YOU can also get a brochure that explains the policy from the Texas Department of Insurance by calling 1-800-252-3439. Before the Policy Is Issued, you may request changes in the policy. Some of the changes to consider are: — Request amendment of the "area and boundary" exception (Schedule 8, paragraph 2). To get this amendment, you must furnish a survey and comply with other requirements of the Company. On the Owner Policy, you must pay an additional premium for the amendment, if the survey Is acceptable to the Company and If the Company's other requirements are met, your Policy will Insure you against loss because of discrepancies or conflicts In boundary lines, encroachments or protrusions, or overlapplhg of Improvements. The Company may then decide not to Insure against specific boundary or survey problems by making speclai exceptions In the Policy. Whether or not you request amendment of the "area .and boundary" exception, you should determine whether you want to purchase and review a survey If a survey is not being provided to you. — Allow the Company to add an exception to "dghts of parties In possession." If you refuse this exception, the Company or the title Insurance aoent may Inspect the property. The company may except to and not Insure you against the rights of specific persons, such as renters, adverse owners or easement holders who occupy the land. The Company may charge you for the Inspection. If you want to make your own inspection, you must sign a Waiver of Inspection form and allow the Company to add this exception to your Policy. The entire premium for a Policy must be paid when the Policy is Issued. You will not owe any additional premiums unless you want to Increase your coverage at a later date and the Company agrees to add an Increased Value Endorsement. . ib ae South lesota 55401 i. THE FOLLOWING COMMITMENT FOR TITLE INSURANCE IS NOT VALID UNLESS YOUR NAME AND THE POLICY AMOUNT ARE SHOWN IN SCHEDULE A, AND OUR AUTHORIZED REPRESENTATIVE HAS COUNTERSIGNED BELOW. We (Old Republic National Title Insurance Company) will issue our title insurance policy or policies (the Policy) to You (the proposed insured) upon payment of the premium and other charges due, and compliance with the requirements in Schedule B and Schedule C. Our Policy will be in the form approved by the Texas Department of Insurance at the date of issuance, and will Insure your Interest in the land described in Schedule A. The estimated premium for our Policy and applicable endorsements. Is shown on Schedule D. There may be additional charges such as recording fees, and expedited delivery expenses. This Commitment ends ninety (90) days from the effective date, unless the Policy is issued sooner, or failure to Issue the Policy Is our fault. Our liability and obligations to you are under the express terms of this Commitment and end when this Commitment expires. AGGIELAND TITLE COMPANY 3740 Comerfield Dr., Suite 101 Bryan, TX 77802 979 / 731.8400 ��i7�hinK..n 1 Authorized Slg atory L4CCLL FORM: ORT 2067 Commitment lot Title Insurance (Effective 111lioB OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY A Stock Company 400 Second Avenue South, Minneapolis. Minnesota 55401 (612) 371-1111 By Attest b President Secretary CONUMONS AND STIPULATIONS' 1. It you have actual knowledge of any matter which may affect the title or mortgage covered by this Commitment, that Is not shown In Schedule B, you must notify us In writing. If you do not notty us in writing, our liability to you Is ended or reduced to the extent that your failure to notify us affects our Ilebffity, If you do notty US, or we learn of such Maher, .we may amend Schedule B, but we will not be relieved of liability already Incurred. 2. Our liability Is only to .you, and others who are Included In the dednldon of Insured in the Policyy, to be Issued, Our liability is only for actual loss Incurred in your reliance on this Commgment to comply with Its requirements or to acquire the Inlersal in the land, Our liability Is limited to, the amount shown in Schedule A of this Commitment and will be subject to the following terms of the Policy: Insuring Provisions, Conditions and Stipulations, Excepffons and Exclusions. 0 Commitment For Title tnsuransla rssued Nuou�,h h'l4 OhYce oL * ®LD'REPUBLIC NM0X* LTMEINSURANCECOWANY AGGIELAND TITLE COMPANY 3740 Copperfleid Dr., Suite 101 Bryan, TX 77802 9791731-8400 TEXAS TITLE JINSURANCE INFORMATION Title Insurance Insures you against loss resulting from certain risks to your title. The Commitment for Title Insurance Is the title Insurance company's promise to Issue the title Insurance policy. The Commitment is a legal document. You should review it carefully to completely understand it before your closing date, -El seguro de titulo Is asegura an relac16n a pdrdldas resultantes de clerics riesgos quo pueden afectar el tltulo de su propledad. Ell Compromiso Para Seguro de TRulo as la promesa de la cgmpaRla aseguradora de tltulos de emitlr.la p6iiza de seguro de titulo. El Compromiso as un documento legal. Usted dabs leerio cuidadosamente y entenderlo completemente antes de Is facha Para. finalizar su transacci6n. Your Commitment for Title Insurance is a legal contract between you and us. The Commitment is not an opinion or report of your title. It Is a contract to Issue you a policy subject to the Commitment's terms and requirements. Before Issuing a Commitment for Title Insurance (the Commitment) or a Title Insurance Polley (the Poiicyj, the Title Insuance Company (the Company) determines whether the title Is Insurable, This determination has already been made. Part of that determination Involves the Company's decision to Insure the title except for certain risks that will not be covered by the Polley. Some of these risks are listed in Schedule B of the attached Commitment as Exceptions. Other risks are stated In the Polley as Exclusions. These risks will not be covered by the Policy. The Policy Is not an abstract of title nor does a Company have an obligation to determine the ownership of any mineral Interest. — MINERALS AND MINERAL RIGHTS may not be covered by the Policy. The Company may be unwilling to Insure title unless there Is an exclusion or an exception as to Minerals and Mineral Rights In the Policy. Optional endorsements Insuring certain risks Involving minerals, and the use of Improvements (excluding lawns, shrubbery and trees) and permanent, buildings may be available for purchase. If the title Insurer Issues the title policy with an exclusion or exception to the minerals and mineral rights, neither this Policy, nor the optional endorsements, ensure that the purchaser has title to the mineral rights related to the surface estate, Another part of the determination Involves whether the promise to Insure is conditioned upon certain requirements being met, schedule C Of the Commitment lists these requirements that must be satisfied or the Company wlll refuse to cover them. You may want to discuss any matters shown In Schedules 8 and.0 of the Commitment with an attorney. These matters will affect your title and your use of the land. When your Policy Is Issued, the coverage will be limited by the Policy's Exceptions, Exclusions and Conditions, defined below. — EXCEPTIONS are title risks that a Polley generally covers but does not cover In a particular Instance. Exceptions are shown on Schedule B or discussed In Schedule C of the Commitment They can also be added If you do not comply with the Conditions section of the Commitment. When the Policy Is Issued, all Exceptions will be on Schedule B of the Policy. — EXCLUSIONS are title risks that a Policy generally does not cover. Exclusions are contained In the Policy but not shown or discussed in the Commitment — CONDITIONS are additional provisions that quality or limit your coverage. Conditions Include your responsibilities and those of the Company. They are contained In the Policy but not shown or discussed In the Commitment. The Policy Conditions are not the same as the Commitment Conditions. You can get a copy of the policyform approved bythe Texas Department of Insurance by calling the Title Insurance Company at 1-888.678-1700 or by calling the title Insurance agent that Issued the CommltmenL The Texas Department of Insurance may revise the policy form from time to time, You can also get a brochure that explains the policy from the Texas Department of Insurance by calling 1-800-252-3439, Before the Policy is Issued, you may request; changes in the policy. Some of the changes to consider are: — Request amendment of the "area and boundary" exception (Schedule 8, paragraph 2). To get this amendment, you must furnish a survey and comply with other requirements of the Company. On the Owner Policy, you must pay an additional premium for the amendment, If the survey Is acceptable to the Company and if the Company's other requirements are mat, your Policy will Insure you against loss because of discrepancies or conflicts In boundary lines, encroachments or protrusions, or overlapping of Improvements. The Company may then decide not to Insure against specific boundary or survey problems by making special exceptions In the Policy. Whether or not you request amendment of the "area .and boundary" exception, you should determine whether you want to purchase and review a survey if a survey is not being provided to you. — Allow the Company to add an exception to "rights of parties in Possession." If you refuse this exception, the Company or the title Insurance agent may Inspect the property. The Company may except to and not Insure you against the rights of specific persons, such as renters, adverse owners or easement holders who occupy the land. The Company may charge you for the Inspection. If you want to make your own Inspection, you must sign a Waiver of inspection form and allow the Company to add this exception to your Policy. The entire premium for a Policy must be paid when the Policy is Issued. You will not owe any additional premiums unless you want to Increase your coverage at a later date and the Company agrees to add an Increased Value Endorsement. . AGGIELAND TITLE COMPANY Privaiy Policy Notice PURPOSE OF THIS NOTICE Title V of the Gramm -Leach -Bliley, Act (GLBA) generally prohibits any financial Institution, directly or through Its affiliates, from sharing nonpublic personal Information about you with a nonaffiliated third party unless the institution.provldes you with a notice of Its privacy policies and practices, such as the type of information that it collects about you and the categories of persons or entitles to whom It may be disclosed. in compliance with the GLBA, we are providing you with this document, which notifies you of the privacy policies and practices of OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY AND AGGIELAND TITLE. We may collect nonpublic personal information about you from the following sources: Information we receive from you such as on applications or other forms. Information about your transactions we secure from our files, or from our affiliates or others. Information we receive from a consumer reporting agency. Information that we receive from others Involved In your transaction, such as the real estate agent or lender. Unless It Is specifically stated otherwise In an amended Privacy Policy Notice, no additional nonpublic personal information will be collected about you. We may disclose any of the above Information that we collect about our customers or former customers to our affiliates or to nonaffiliated third parties as permitted by law. . We also may disclose this Information about our customers or former customers to the following types of nonaffiliated companies that perform services on our behalf or:with whom we have joint marketing agreements: Financial service providers such as companies engaged In banking, consumer finance, securities and Insurance. Non-flnancfal companies such as envelope stuffers and other fulfillment service providers. WE DO NOT DISCLOSE ANY NONPUBLIC PERSONAL INFORMATION ABOUT YOU WITH ANYONE FOR ANY PURPOSE THAT IS NOT SPECIFICALLY PERMITTED BY LAW. We restrict access to nonpublic personal information about you to those employees who need to know that Information In order to provide products or services to you. We maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your personal Information. (2G �» OLD REPUBLIC x i*x wm.�n•in�.rc•o•m,uy •x» Old Republic National Title Insurance Company Premium Amount Rate Rules Property County Liability at Type Code Reissue Rate 1 2 3 4 5 6 7 8 $1,140.00 1200 41 3210 DELETION OF ARBITRATION PROVISION (Not applicable to the Texas Residential Owner's Policy) Arbitration is a common form of alternative dispute resolution. It can be a quicker and cheaper means to settle a dispute with your Title Insurance Company. However, if you agree to arbitrate, you give up your right to take the Title Company to court and your rights to discovery of evidence may be limited in the arbitration process. In addition, you cannot usually appeal an arbitrator's award. Your policy contains an arbitration provision (shown below). It allows you or the Company to require arbitration if the amount of insurance is $2,000,000 or less. If you want to retain your right to sue the Company in case of a dispute over a claim, you must request deletion of the arbitration provision before the policy is issued. You can do this by signing this form and returning it to the Company at or before the closing of your real estate transaction or by writing to the Company. The arbitration provision in the Policy is as follows: "Either the Company or the Insured may demand that the claim or controversy shall be submitted to arbitration pursuant to the Title Insurance Arbitration Rules of the American Land Title Association ("Rules"). Except as provided in the Rules, there shall be no joinder or consolidation with claims or controversies of other persons. Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the Insured arising out of or relating to this policy, any service in connection with its issuance or the breach of a policy provision, or to any other controversy or claim arising out of the transaction giving rise to this policy. All arbitrable matters when the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured, unless the Insured is an individual person (as distinguished from an Entity). All arbitrable matters when the Amount of Insurance is in excess of $2,000,000 shall be arbitrated only when agreed to by both the Company and the Insured. Arbitration pursuant to this policy and under the Rules shall be binding upon the parties. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court of competent jurisdiction." SIGNATURE DATE FORM TA: Commitment for Title Insurance Page 1 COMMITMENT FOR TITLE INSURANCE SCHEDULED GF No. 26919 Effective Date: July 5, 2011, 7:00 am Pursuant to the requirements of Rule P-21, Basic Manual of Rules, Rates and Forms for the writing of Title Insurance in the State of Texas, the following disclosures are made: 1. The following individuals are directors and/or officers, as indicated, of the Title Insurance Company issuing this Commitment DIRECTORS OF OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY HARRINGTON BISCHOF JOHN M. DIXON JOHN W.POPP ARNOLD L. STEINER A. C. ZUCARO STEVE R. WALKER DENNIS P. VAN MIEGHEM JAMES A. KELLOGG RANDE K. YEAGER CHARLES F. TITTERTON LEO E. KNIGHT, JR. FREDERICKA TAUBITZ OFFICERS OF OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY RANDE K. YEAGER Chairman, CEO STEPHEN C. WILSON Executive Vice President, Vice Chairman GARYJ.HORN Executive Vice President, CFO PATRICK A. CONNOR Executive Vice President MIKE TARPEY Vice President and Treasurer MARK BILBREY President MARK M. BUDZINSKI Executive Vice President ROBERT J. CHAPMAN Executive Vice President R. WAYNE SHUPE Executive Vice President DANIEL M. WOLD Sr. Vice President, Secretary, General Counsel 2. The following disclosures are made by the Title Insurance Agent issuing this Commitment: Owners Directors Officers William S. Thornton, Jr. William S. Thornton, Jr. William S. Thornton, Jr., President J. Fred Bayliss Page D. Thornton, Secretary Page D. Thornton, Treasurer 3. You are entitled to receive advance disclosure of settlement charges in connection with the proposed transaction to which this commitment relates. Upon your request, such disclosure will be made to you. Additionally, the name of any person, firm or corporation receiving a portion of the premium from the settlement of this transaction will be disclosed on the closing or settlement statement. You are further advised that the estimated title premium* is: Owner's Policy Loan Policy Endorsement Charges Other Total $1.040.00 $100.00 $0.00 $0.00 $1,140.00 Of this total amount: 15% will be paid to the policy issuing ,title Insurance Company: 85% will be retained by the issuing Title Insurance Agent; and the remainder of the estimated premium will be paid to other parties as follows: Amount To Whom For Services 11 .The estimated premium is based upon information furnished to us as of the date of this Commitment for Title Insurance. Final determination of the amount of the premium will be made at closing in accordance with the Rules and Regulations adopted by the Commissioner of Insurance." FORM T-7: Commitment for Title Insurance Page I CONIMrfMENT FOR TITLE INSURANCE Issued By Old Republic National Title Insurance Company Your Policy will not cover loss, costs, attorneys' fees, and expenses resulting from the following requirements that will appear as Exceptions in Schedule B of the Policy, unless you dispose of these matters to our satisfaction, before the date the Policy is issued: Documents creating your title or interest must be approved by us and must be signed, notarized and filed for record. 2. Satisfactory evidence must be provided that: a. no person occupying the land claims any interest in that land against the persons named in paragraph 3 of Schedule A, b, all standby fees, taxes, assessments and charges against the property have been paid, c. all improvements or repairs to the property are completed and accepted by the owner, and that all contractors, subcontractors, laborers and suppliers have been fully paid, and that no mechanic's, laborer's or materialmen's liens have attached to the property, d. there is legal right of access to and from the land, C. (on a Loan Policy only) restrictions have not been and will not be violated that affect the validity and priority of the insured mortgage, 3. You must pay the seller or borrower the agreed amount for your property or interest. 4. Any defect, lien or other matter that may affect title to the land or interest insured, that arises or is filed after the effective date of this Commitment. 5. Provide a survey and field notes prepared by or under the supervision of a Registered Professional Land Surveyor for the property intended to be conveyed for our review prior to closing. We reserve the right to make additional exceptions or requirements upon our review of the survey. 6. NOTE: The Policy of Title Insurance to be issued under this Commitment for Title Insurance provides for arbitration which is a common form of alternative dispute resolution. The rules of the Texas Department of Insurance allow you to request that such provision be deleted from the Policy at no additional charge to you. Unless you notify us prior to settlement that you wish to have the Arbitration Provision deleted it will be in the Policy which we issue to you. (Not applicable to Texas Residential Owner Policy) Countersigned Aggieland Title Company By FORM T-7: Commitment for Title Insurance Page 4 Continuation of Schedule B GF No. 26919 9. The Exceptions from Coverage and Express Insurance in Schedule B of the Texas Short Form Residential Loan Policy (T- 2R). (Applies to Texas Short Form Residential Loan Policy (T-2R) only. Separate exceptions 1 through 8 of this Schedule B do not apply to the Texas Short Form Residential Loan Policy (T-2R). 10. The following matters and all terms of the documents creating or offering evidence of the matters (We must insert matters or delete this exception.): a. Easements or claims of easements which are not recorded in the public records of Brazos County, Texas. b. Blanket Easement granted to Sinclair Refining Company by Abraham Hensarling and wife, Mary Hensarling as set out in instrument dated April 15, 1947, recorded in Volume 132, Page 111 of the Deed Records of Brazos County, Texas. C. Blanket Easement granted to Lone Star Gas Company by Mary Hensarling Stevens and husband, S. M. Stevens as set out in instrument dated December 18, 2050, recorded in Volume 148, Page 40 of the Deed Records of Brazos County, Texas. d. Easement granted to Wellborn Water Supply Corporation by Don Dillon and D. Brooks Cofer, Jr., dba Cofer & Dillon as set out in instrument dated October 6, 1965, recorded in Volume 254, Page 292 of the Deed Records of Brazos County, Texas. e. Easement granted to City of College Station by Steven J. Brock and wife, Sharon Brock as set out in instrument dated September 25, 2009, recorded in Volume 9328, Page 186 of the Official Public Records of Brazos County, Texas. f. Royalty interest in the oil, gas and other minerals in and under the herein described property reserved in deed from Delbert O. Black and wife, Wilma J. Black to Dennis B. Herd and wife, Esther C. Herd dated October 15, 1979, recorded in Volume 436, page 43, Deed Records of Brazos County, Texas. Title to this interest not investigated subsequent to date of said instrument. g. Estate created by oil, gas and mineral lease granted to Jordan Engineering, Inc. by Delbert O. Black and Wilma June (Billie) Black by instrument dated April 19, 1979, recorded in Volume 35, Page 457 of the Oil, Gas and Mineral Lease Records of Brazos County, Texas, and all terms, conditions and stipulations contained therein. Title to this lease has not been investigated subsequent to date thereof. h. All leases, grants, exceptions or reservations of coal, lignite, on, gas and other minerals, together with all rights, privileges and immunities relating thereto, appearing in the Public Records whether listed in Schedule B or not. There may be leases, grants, exceptions or reservations of mineral interest that are not listed. I. Rights of parties in possession. FORM T-7: Commitment for Title Insurance Page 3 COMMUMENT FOR TITLE INSURANCE Issued By Old Republic National Title Insurance Company SCHEDULEB EXCEPTIONS FROM COVERAGE In addition to the Exclusions and Conditions and Stipulations, your Policy will not cover loss, costs, attorneys' fees, and expenses resulting from: 1.The following restfietive eoventims of record itemized below (We must either insert specific recording data or delete this 2. Any discrepancies, conflicts, or shortages in area or boundary lines, or any encroachments or protrusions, or any overlapping of improvements. Upon Company's receipt, review and approval of a current land title survey, and payment of any promulgated premium, this item can be amended to read in its entirety'shortages in area'." 3. Homestead or community property or survivorship rights, if any, of any spouse of any insured. (Applies to the Owner's Policy only.) 4, Any titles or rights asserted by anyone, including, but not limited to, persons, the public, corporations, governments or other entities, a. to tidelands, or lands comprising the shores or beds of navigable or perennial rivers and streams, lakes, bays, gulfs or oceans, or b. to lands beyond the line of harbor or bulkhead lines as established or changed by any government, or C. to filled -in lands, or artificial islands, or d. to statutory water rights, including riparian rights, or e. to the area extending from the line of mean low tide to the line of vegetation, or the rights of access to that area or easement along and across that area. (Applies to the Owner's Policy only.) 5. Standby fees, taxes and assessments by any taxing authority for the year 2010, and subsequent years; and subsequent taxes and assessments by any taxing authority for prior years due to change in land usage or ownership, but not those taxes or assessments for prior years because of an exemption granted to a previous owner of the property under Section 11.13, Texas Tax Code, or because of improvements not assessed for a previous tax year. (If Texas Short Form Residential Loan Policy (T-2R) is issued, that policy will substitute "which become due and payable subsequent to Date of Policy" in lieu of "for the year_ and subsequent years.") 6. The terms and conditions of the documents creating your interest in the land. 7. Materials furnished or labor perforated in connection with planned construction before signing and delivering the lien document described in Schedule A, if the land is part of the homestead of the owner. (Applies to the Loan Title Policy Binder on Interim Construction Loan only, and may be deleted if satisfactory evidence is furnished to us before a binder is issued.) 8. Liens and leases that affect the title to the land, but that are subordinate to the lien of the insured mortgage. (Applies to Loan Policy (T-2) only.) FORM T-7: Cammitwent for Title Insurance Page 2 COMMITMENT FOR TITLE INSURANCE Issued By Old Republic National Title Insurance Company SCHEDULE A Effective Date: July 5, 2011, 7:00 am GF No. 26919 Commitment No, issued July 11, 2011,10:30 am 1. The policy or policies to be issued are: (a) OWNER'S POLICY OF TITLE INSURANCE (Form T-1) (Not applicable for improved one -to -four family residential real estate) Policy Amount: $136,900.00 PROPOSED INSURED: Brett Behrend and Becky Behrend (b) TEXAS RESIDENTIAL OWNER'S POLICY OF TITLE INSURANCE - ONE -TO -FOUR FAMILY RESIDENCES (Form T-1R) Policy Amount: PROPOSED INSURED: (c) LOAN POLICY OF TITLE INSURANCE (Form T-2) Policy Amount: $109,520.00 PROPOSED INSURED: First National Bank Proposed Borrower: Brett Behrend and Becky Behrend (d) TEXAS SHORT FORM RESIDENTIAL LOAN POLICY OF TITLE INSURANCE (Form T-2R) Policy Amount: PROPOSED INSURED: Proposed Borrower: (a) LOAN TITLE POLICY BINDER ON INTERIM CONSTRUCTION LOAN (Form T-13) Binder Amount: PROPOSED INSURED: Proposed Borrower: (t) OTHER Policy Amount: PROPOSED INSURED: 2. The interest in the land covered by this Commitment is: Fee Simple 3. Record title to the land on the Effective Date appears to be vested in: B. A. Cathey, LTD 4. Legal description of the land: All that certain tract or parcel of land lying and being situated in the ROBERT STEVENSON LEAGUE, Abstract No. 54, in the City of College Station, Brazos County, Texas, and being a portion of that called 4.523 acres tract described in the deed dated May 23, 2005 from Dennis B. Herd, et ux to Steven J. Brock, et us, recorded in Volume 6686, Page 70 of the Official Public Records of Brazos County, Texas, and further being a portion of that called 4.931 acres tract described in the deed dated February 26, 2010 from Steven J. Brock and Sharon Brock to B. A. Cathey, LTD recorded in Volume 9516, Page 268 of said Official Public Records. A FIELD NOTE DESCRIPTION AND SURVEY OF THE PROPERTY INTENDED TO BE CONVEYED TO BE PROVIDED. FORM T-7: Commitment for Title Insurance Page