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HomeMy WebLinkAboutTitle InsuranceIssued by Lawyers Title Insurance Corporation JAY DO.. WATSON/tIl POLICY NUMBER LandAmeri'La Lawyers Titirinsumnce Corporation is a member of the 0 O G —0'7 0 T T i O. Lawyers Title LandAmerfca famlty of tide insurance underwriters. S30117 SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE S AND THE CONDITIONS AND STIPULATIONS, Lawyers Title Insurance Corporation, a Nebraska 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 elated 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 elated thereto; 2 Any defect in or Ilan or encumbrance on the Bile; - 3. Lack of a right of access to and from the land; 4. The hwalidily or unentorceabliiy of the lien of the insured mortgage upon the Otis; 5. The priority of any lien or encumbrance over the Ilan of the Insured mortgage; S. Lack of priority of the Ilan of the insured mortgage over any statutory or wnsftullonal machanlo'6, conimcmrs, or meterialman'e Ilan for labor Or material having Its Inception on or before Date of Policy; 7. The invalidity or unenfomeabllOy of any assignment of the Insured mortgage, provided the assignment Is shown N Schedule A, or the failure of the assignment shown in Schedule A to vast Idle to the Insured mortgage In the named insured assignee free and clear of all liens; B. Lack of good and Indefeasible Otis, The Company also will pay the costs, altumeys' fees and expenses mourned in delense of the Offs or the Ilan of the Insured mortgage, as insured, but only to the extent provided In the Cordtlons and Sllpulallons. 1 IN WITNESS WHEREOF, LAWYERS TITLE INSURANCE CORPORATION has caused Its corporate name and seat to be hereunto &fixed by Its duly authorized officers, the Policy to become valid when countersigned by an authorized officer or agent of the Company. LAWYERS TITLE INSURANCE CORPORATION �� 0 Np c� Attest: 9 SEAi,�g BY: A$g,,....,... 'a Secretary .„,sapasP,. President EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage at this policy and the Company will not pay loss or damage, costs, altorneys fees or expenses that arise by reason of: i. (a) any law, ordinance or governmental regulation (Including but not limited to building and zoning laws, ordinances, or regulations) resulcling, regulating, prohibiting or relaling to (I) the occupancy, use, or enjoyment of the land; pp the character, dimensions or location of any Improvement now or hereafter erected on the land; (tip a separation In ownership or a change in the dimensions or area of the land or any parcel of which the land ta or was a part; or (iv) environmental protection, or the effect of any violation of than laws, oadnanoss 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 affecfing the land has been recorded In the (b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise Ihereol or a cotice of a defect, lien or encumbrance, resulting from a violation or alleged violation afecting the land has been recorded In the public records W Date of Policy, 2. Flights of eminent domain unless notice of the exercise thereof has been recorded in the public: records at bate 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. a. 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 claimant prior to the date the insured claimant became an insured under this policy; (a) resulting In no loss or damage to the insured claimant; (d) attaching or created subsequent to Data of Policy (except to the extent that this policy Insures the priority of the lien of the Insured mortgage over any statutory lien for services, labor or mated&p; or (a) resulting in loss or damage that would not have been sustained it the insured claimant had paid value for the insured mortgage. 4. Unenforceabiify of the Ilan of the Insured mortgage because of the Inability or failure of the Insured at Data of Policy, or the inability or faiWre of any subsequent owner of the Indebtedness, to comply with applicable doing business laws of the state In which the land Is situated. S. invalidity or unenforceab011y of the Ilan of the Insured mortgage, or claim thereof, which adsea out of the transaction evidenced by the Insured mortgage and Is based upon usury or any consumer credit protectlon or buth In lending law. d. Any statutory or constitutional machanto's, wntractor's, or matedalman's Ilan for labor or material having its Inception subsequent to Date of Policy. 7. 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 rrmm�rLnlefilll,,, n( rM1n IINu arises out of the transaction creating the Interest of the mortgagee lagged by this policy, by reason of the operation of federal bankruptcy, or other state orledeml creations' dghls laws that is based on either lion creating the Interest of the Insured mortgagee being deemed a fraudulent conveyance or fraudulent transfer or a voldable distribution or pq the WbeedGnatioo or recharaeterizatfon of the Interest of the Insured mortgagee as a result of the application of the dwtdrre of equitable subordination or pill the transaction creating the Interest of the Insured mortgagee being deemed a preferential transfer except wheys the preferential transfer results from the failure of the Company or its [Swing 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 a purchaser for value or a judgment or lien creditor. Texas Mortgagee Policy T•2 (Rev. 1/1193) Form 1179.21A ORIGINAL Valid only If Schedules A and B are attached MORTGAGEE POLICY OF TITLE INSURANCE SCHEDULEA G.F. No. 530117 Policy No. 082-0404476 Amount of Insurance: $1,000,000.00 Premium: $5,699.00 Date ofPolicy: August 27, 2007,10:29 am 1. Nameofhrsured: The Brenham Notional Bank 2. The estate or interest in the land that is insured as encumbered by the insured mortgage is: Fee Simple 3. Title to the estate or interest in the land is insured as vested in: 60-Jones Associates, Ltd. 4. The insured mortgage and assignments thereof, if any, are described as follows: Third Lien Deed of Trust executed by 60-Jones Associates, Ltd., a Texas limited partnership, acting by and through its general partner 60-Jones, L.L.C. to Michael R. Rudloff, Trustee, dated August 14, 2007; securing the payment of one note of even date therewith in the principal sum of $1,000,000.00, payable to The Brenham National Bank, said Deed of Trust filed for record with the Office of the County Clerk of Brazos County, Texas on August 27, 2007, recorded in Volume 8204, Page 229, Official Records of Brazos County, Texas. 5, The land referred to in this policy Is described as follows: TRACT ONE: Metes and bound description of all that certain tract or parcel of land lying and being situated in the J. H. JONES SURVEY, ABSTRACT NO.26, Brazos County, Texas. Said tract being a portion of the remainder of a called 175 acre tract as described by a deed to Steve Hudetts recorded in Volume 63, Page 182 of the Deed Records of Brazos County, Texas. Said tract being more particularly described by metes and bounds as follows: COMMENCING at a 1/2 inch Iron rod found marking the west corner of a called 5.394 acre tract as described by a deed to France Fields and wife, Betty J. Fields, recorded in Volume 4352, Page 15 of the Official Public Records of Brazos County, Texas, and a southwest corner of said remainder of 175 acre tract, said iron rod found being on the northeast fine of it called 1.896 acre tract as described by a deed to Thomas Moore recorded in Volume 1116, Page 583 of the Official Records of Brazos County, Texas, marking the west corner of said 5.394 acre tract; THENCE: N 440 49' 40" W along the common line of said remainder of 175 acre tract and said 1.896 acre tract for a distance of 02.94 feet to a 518Inch Iron rod set marling the POINT OF BEGINNING of this herein described tract; THENCE: N 440 49' 40" W continuing along the common line of said remainder of 175 acre tract and said 1.896 acre tract for a distance of 1657.90 feet to a 1/2 inch iron rod found marking the north corner of a called 4.4949 acre tractors described by a deed to Charles Edward Ottaway, Jr. and wife, Cynthia Ann Ottaway, recorded in Volume 1237, Page 295 of the Official Public Records of Brazos County, Texas, sold iron rod found being on the southeast line of a called 1.00 acre tract as described by a deed to James L. Harris recorded in Volume 923, Page 337 of the Official Public Records of Brazos County, Texas; THENCE: N 430 44' 23" E along the common line of said remainder of 175 acre tract and said 1,00 acre tract for a distance of 126.40 feet to a 1/2 Inch ron rod found marking the east corner of said 1.0 acre tract; Lawyers Title Insurance Corporation Page I Continuation of Schedule A Policy No. G82-0404476 THENCE: N 470 31' 46" W continuing along the common line of Bald remainder of 175 acre tract and said 1.00 acre tract for a distance of 934.59 feet to a 112 inch iron rod found marking the north corner of a called 7,922 acre tract as described by a deed to Gloster Jefferson recorded in Volume 836, Page 129 of the Official Records of Brazes County, Texas, said iron rod found marking the east corner of a called 7.922 acre tract as described by a deed to Bennie Wilson, Jr. and wife, Gloria M. Wilson, recorded in Volume 2915, Page 242 of the Official Public Records of Brazos County, Texas, and the south corner of a called 6.5 acre tract as described by it deed to Fred Jefferson and wife, Ruby Jefferson, recorded in Volume 122, Page'45 of the Deed Records of Brazos County, Texas; THENCE: N 440 45' 10" E along the common line of said remainder of 175 acre tract and said 6.5 acre tract for a distance of 426.31 feet to a 5/8 Inch iron rod set on the south Hue of Jones Road marking the east corner of said 6.5 acre tract and the west corner of a called 0.744 acre tract as described by a Quit Claim Deed from Brazos County to Lucy Hudetts Walker signed and dated October 8, 1990 (not filed for record); THENCE: N 620 94' 01" E along the occupied south line of Jones Road, same being the south line of said 0.744 acre tract, for a distance of 292.47 feet to an angle point in said line; THENCE: N 810 0213011 E continuing along the occupied south line of Jones Road, same being the south line of said 0,744 acre tract, for a distance of 486.30 feet to a point marking the east corner of said 0.744 acre tract; THENCE: N 890 59' 18" E continuing along the south line of Jones Road far a distance of 47.38 feet to a 5/8 inch iron rod set marking the beginning of a clockwise curve having a radius of 904.93 feet; THENCE: along said curve through a central angle of 42° 21' 41" for an are distance of 669.05 feet (chord bears: S 680 49' S2" E - 653.92 feet) to a point in an existing fence line marking the ending point of said curve; THENCE: S 470 39' 02" E along the southwest tine of Jones Road and along said fence line for a distance of 1502.88 feet to a 5/8 inch iron rod set marking the east corner of this herein described tract; THENCE: S 440 11' 15" W through said remainder of 175 acre tract and along the centerline of an existing 60.00 foot wide electrical easement for a distance of 397.21 feet to an existing power polef THENCE: S 400 58' 09" W continuing through said remainder of 175 acre tract and along the centerline of said electrical easement for a distance or 1160.87 feet to the POINT OF BEGINNING containing 79.169 acres of land, more or less. TRACT TWO: Metes and bounds description of all that certain tract or parcel of land lying and being situated in the J. H. JONES SURVEY, ABSTRACT NO, 26, Brazos County, Texas. Said tract being a portion of the remainder of a called 175 acre tract as described by a deed to Steve Hudetts recorded In Volume 63, Page 182 of the Deed Records of Brazos County, Texas. Said tract being more particularly described by metes and bounds as follows: BEGINNING at a 5/8 inch iron rod found at the intersection of the southwest line of Jones Road (a county maintained public road) and the existing northwest fine of F.M. 60 (Raymond Stotzer Parkway), for reference a concrete right-of- way marker found bears: N 400 43' 59" E for a distance of 14.45 feet; THENCE: S 400 43' 59" W along the northwest line of F.M. 60 for a distance of 472.53 feet to a concrete right-of-way marker found marking an angle point In said line; THENCE: 8 410 51' S6" W continuing along the northwest line of F.M. 60 for a distance of 597.43 feet to a 518 inch iron rod set on the northeast line of a called 1.328 acre tract as described by a deed to Betty Lynn Trcalelt Suehs, Carol Ann Trcalelt Petty, Susan Denise Trcalelt Skrabanek and Donna Ruth Trealek Jones, recorded in Volume 4818, Page 285 of the Official Public Records of Brazos County, Texas, marking the south corner of this herein described tract, for reference a 3/8 Inch iron rod found marking the east corner of said 1.328 acre tract bears: S 440 43' 07" E For a distance of 0.53 feet; Lawyers Title Insurance Corporation Page 2 Continuation of Schedule A Policy No, G82-0404476 THENCE: N 440 43' 07" W along tine common line of said remainder of 175 acre tract and said 1.328 nere tract for a distance of 415.67 feet to a cross -tie fence corner post found marking the north corner of said 1.328 acre tract; THENCE: S 420 50' 02" W continuing along the common line of said remainder or 175 acre tract and said 1.328 acre tract for a distance of 139.10 feet to a 3/8 inch iron rod found marking the west corner of said 1.328 acre tract and the most easterly north corner of a called 5,394 acre tract as described by a deed to Frank Fields and wife, Betty J. Fields, recorded in Volume 4352, Page 15 of the Official Public Records of Brazos County, Texas; THENCE: S 430 16' 54: W along the common line ofsald remainder of 175 acre tract and said 5.394 acre tract for a distance of 125.56 feet to a cross -tie fence corner post found marking an interior corner of said 5.394 acre tract; THENCE: N 460 53' 11" W continuing along the common line of said remainder of 175 acre tract and said 5,394 acre tract for a distance of 679.90 feet to a cross -tie fence corner post found marking the north corner of said 5.394 acre tract; THE, S 440 52' 55" W continuing along the common tine of said remainder of 175 acre tract and said 5.394 acre tract for a distance of 263.23 feet to a 112 inch iron rod found on the northeast line of a called 1.896 acre tract as described by a deed to Thomas Moore recorded in Volume 1116, Page 583 of the Official Records of Brazos County, Texas, marking the west corner of said 5.394 acre tract: THENCE: N 440 49' 40" W along the common line of said remainder of 175 acre tract and said 1,896 acre tract for a distance of 192.94 feet to a 5/8 inch iron rod set marking the west corner of this herein described tract, for reference a 1/2 inch Iron rod found marking the north corner of a called 4.4949 acre tract as described by a deed to Charles Edward Ottaway, Jr, and wife, Cynthia Ann Ottaway, recorded in Volume 1237, Page 295 of the Official Public Records of Brazos County, Texas, on the southeast line of a called 1.00 acre tract as described by a deed to James L. Harris recorded in Volume 923, Page 337 of the Official Records of Brazos County, Texas, marking a west corner of said remainder of 175 acre tract bears: N 440 49' 40" W for a distance of 1657.90 feet; THENCE; N 400 58' 09" E through said remainder of 175 acre and along the centerline of an existing 60.00 foot wide electrical easement for a distance of 1160.87 feet to an existing power pole; THENCE: N 440 11' 15" E continuing through said remainder of 175 acre tract and along the centerline of said electrical easement for a distance of 397.21 feet to a 5/8 Inch iron rod set In the southwest fenced line of Jones Road marking the north corner of this herein described tract; THENCE: S 470 39' 02" E along the southwest line of Jones Road and along said fence line for a distance of 565.64 feet to a 60d nail found in the tap of a fence post marking the north corner of a called 1.00 acre tract as described by a deed to Steve Hudetts and wife, Barbara D. Hudetts, recorded in Volume 366, Page 8 of the Deed Records of Brazos County, Texas; THENCE: S 42" 24' 01 W through said remainder of 175 acre tract and along the northwest line of said 1.00 acre Hudetts tract for a distance of 284.90 feet to a 518 inch iron rod set marking the west corner of sold 1.00 acre tract; THENCE: S 470 35' 59" E continuing through said remainder of 175 acre tract and along the southwest line of said 1.00 acre Hudetts tract for a distance of 145.20 feet to a 518 inch iron rod set marking the south corner of said 1.00 acre tract; THENCE: N 420 24' 01" E continuing through said remainder of 175 acre tract and along the southeast line of said 1.00 acre Hudetts tract for a distance of 285.03 feet to a 5/8 inch Iron rod set on the southwest line of Jones Road marking the east corner of said 1.00 acre tract; THENCE: S 470 39' 02" E along the southwest line of Jones Road for a distance of 588.53 feet to the POINT OF BEGINNING, containing 37.658 acres of land, more or less. Continuation of Schedule A Policy No. G82-0404476 TRACT THREE: Metes and bounds description of all that certain tract of land lying and being situated in the J. H. JONES SURVEY, ABSTRACT NO, 26, Brazos County, Texas. Said tract being the some tract of land as described by a Quitclaim Deed to Lucy Hudetts Walker recorded in Volume 2455, Page 43 of the Official Records of Brazos County, Texas. Said tract being more particularly described by metes and bounds as follows: BEGINNING at a 518 inch iron rod found in the existing south fenced line of Jones Road, some being the northerly line of the remainder of a called 175 acre tract as described by a Deed to Steve Hudetts recorded in Volume 63, Page 182 of the Deed Records of Brazos County, Texas, said iron rod found marking the east corner of a called 6,5 acre tract as described by a Deed to Fred Jefferson and wife, Ruby Jefferson, recorded in Volume 122, Page 45 of the Deed Records of Brazos County, Texas; THENCE: through the existing right-of-way of Jones Road and along the northerly lines of said 0.744 acre tract for the following calls: N 440 39' 18" E for a distance of 254.37 feet to a 5/8 Inch iron rod found; N 760 28' 02" E for a distance of 119.31 feet to a 518 Inch iron rod found; N 890 5911811 E for a distance of 445.95 feet to a point in the existing south fenced line of Jones Road marking the east corner of this herein described tract; THENCEr along the existing south fenced line of Jones Road, same being the northerly line of said remainder of 175 acre tract, for the following calls: S 810 02' 30" W for a distance of 486.30 feet to a point; S 620 54' Of" W for a distance of 292.47 feet to the POINT OF BEGINNING, containing 0.744 of an acre of land, more or less. TRACT FOUR: Metes and bounds description of all that certain tract or parcel of land lying and being situated in the J. H. JONES SURVEY, ABSTRACT NO.26, Brazos County, Texas. Said tract being the remainder of a called 1.00 acre tract as described by a Deed to Steve Hudetts and wife, Barbara D. Hudetts, recorded in Volume 366, Page 8 of the Deed Records of Brazos County, Texas. Said tract being more particularly described by metes and bounds as follows: BEGINNING at a 5/8 inch iron rod found on the southwest line of Jones Road (variable width R.O.W.) marking the east corner of said remainder of 1.00 acre tract and a northerly corner of the remainder of a called 175 acre tract as described by a Deed to Steve Hudetts recorded in Volume 63, Page 182 of the Deed Records of Brazos County, Texas, for reference a 5/8 inch iron rod found on the northwest line of FM 60 marling the east corner of said remainder of 175 acre tract bears: S 470 39' 02" E for a distance of 588.53 feet; ' THENCE: S 420 24' 01" W along the common line of said remainder of 1.00 acre tract and said remainder of 175 acre tract for a distance of 285.00 feet to a 5/8 inch iron rod found marking the south corner of said remainder of 1.00 acre tract; THENCE: N 470 35' 59" W continuing along the common line of said remainder of 1.00 acre tract and said remainder of 175 acre tract for a distance of 145.20 feet to a 518 Inch iron rod found marling the west corner of said remainder of 1.00 acre tract; Lawyers Title Insurance Corporation Page 4 Continuation of Schedule A Policy No. G92-0404476 THENCE: N 420 24' 01" E continuing along the common line of said remainder of 1.00 acre tract and said remainder of 175 acre tract for a distance of 284.90 feet to a 60D nail found in a fence post on the southwest line of Jones Road marking the north corner of said remainder of 1.00 acre tract; THENCE: S 470 39' 02" E along the southwest line of Jones Road for a distance of 145.20 feet to the POINT OF BEGINNING, containing 0.95 of an acre of land, more or less. NOTE: The Company is prohibited from insuring the area or quantity of land described herein. Any statement in the above legal description of the area or quantity of land Is not a representation that such are or quantity is correct, but is made only for informational and/or identification purposes and does not override Item 2 of Schedule B hereof. Lawyers Title Insurance Corporation Page 5 MORTGAGEE POLICY OF TITLE INSURANCE SCHEDULE B G.F. No. 930117 Policy No. G82-0404476 - EXCEPTIONS FROM COVERAGE This policy does not insure against loss or dunnage (and the Company will not pay costs, attorneys' fees or expenses) that arise by reason of the terms and conditions of the leases and easements, if any, shown in Schedule A, and the following matters: 1. The following restrictive covenants of record itemized below, but the Company Insures that any such restrictive covenants have not been vioiated so as to affect, and that future violation thereof will not affect, the validity or priority of the mortgage hereby insured (insert specific recording data or delete this exception): Restrictions: Volume 7959, Page 1, Official Records of Brazos County, Texas. (TRACTS ONE, TWO AND THREE) NOTE: TO THE EXTENT THAT THE, SE RESTRICTIONS VIOLATE 42 USC 3604 (e) BY INDICATING A PREFERENCE, LIMITATION OR DISCRIMINATION BASED ON RACE, COLOR, RELIGION, SEX, HANDICAP, FAMILIAL STATUS OR NATIONAL ORIGIN, SUCH RESTRICTIONS ARE HEREBY OMITTED. 2. Any discrepancies, conflicts, or shortages in area or boundary lines, or any encroachments or protrusions, or any overlapping of Improvements. 3. 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 Cade, or because of improvements not assessed for a previous tax year. 4. Liens and leases that affect the title to the estate or interest, but that are subordinate to the lien of the Insured mortgage. 5. (Insert here all other specific exceptions as to the superior liens, easements, outstanding mineral and royalty interests, etc.) a. Vendor's lien retained in Deed executed by Basic Brown, Frances Armstrong, Lucille Hudetts Lightsey, Elva Jane Lightsey and Cecil Ann Armstrong to 60-Jones Associates, Ltd., dated November 10, 2005, recorded in Volume 7020, Page 244, Official Records of Brazos County, Texas; and additionally secured by a Deed of Trust executed by 60-Jones Associates, Ltd., a Texas limited partnership to Timothy N. Bryan, Trustee, for the benefit of The First National Bank of Bryan, dated November 10, 2005, recorded to Volume 7020, Page 251, Official Records of Brazos County, Texas (in the amount of $302,500.00); Transfer of Lien dated April 27, 2007, executed by The First National Bank of Bryan to The Brenham National Bank, recorded in Volume 7950, Page 230, OlBcial Records of Brazos County, Texas. III Deed of Trust executed by 60-Jones Associates, Ltd., a Texas limited partnership, acting by and through its General Partner 60-Jones, L.L.C. to Michael R. Rudloff, Trustee for the benefit of The Brenham National Bank, dated June 7, 2007, recorded in Volume 8030, Page 68, Official Records of Brazos County, Texas (in the amount of $270,000.00). c. 25' building line across front and rear lot lines; 16' building line along side lot lines; and any and all easements as set out in restrictions recorded in Volume 7959, Page 1, Official Records of Brazos County, Texas. (TRACTS ONE, TWO AND THREE) it. This policy does not insure title to any oil, gas and/or minerals, in, on and under the property herein described. Lawyers Title Insurance Corporation Page I Continuation of Schedule B Policy No. G82-0404476 e. The tax certificate furnished by the taxing authorities is on real estate only; It does not include mineral or personal property. Therefore, no liability Is assumed herein for the payment of said mineral and/or personal property taxes. f. Easement executed by Steve Hudetts, at ux to City of Bryan, dated August 4, 1960, recorded in Volume 208, Page 461, Deed Records of Brazos County, Texas. (TRACTS ONE AND TWO) g. Blanket Easement executed by Lucy Hudetts Walker, et vir to Brushy Water Supply, dated November 28, 1966, recorded in Volume 259, Page 272, Deed Records of Brazos County, Texas; assigned to Wellborn Special Utility District in Volume 6379, Page 287, Official Records of Brazos County, Texas. h. Blanket Easement executed by Steve Hadetts, at ux to City of Bryan, dated April 21, 1937, recorded in Volume 98, Page 299, Deed Records of Brazos County, Texas. 1. Easement executed by Lucy Hudetts Walker to GTE Southwest Incorporated, at al, dated March 10, 1999, recorded in Volume 1137, Page 604, Official Records of Brazos County, Texas. (TRACT TWO) J. Easement executed by Lucy Hudetts Walker to City otBryan, dated September 23, 1993, recorded in Volume 1935, Page 279, Official Records of Brazos County, Texas. (TRACTS ONE AND TWO) It, Easement executed by Steven Hudetts and wife, Barbara D. Hudetts to City of Bryan, dated September 16, 1993, recorded in Volume 1935, Page 283, Official Records of Brazos County, Texas. (TRACT FOUR) Subject to terms, conditions and stipulations contained in unrecorded Commercial Triple Net Lease Agreement, dated May 10, 2007 by and between Beta Theta Pi Cowboys, Inc. and 604ones Associates, Ltd.. M. *Mineral reservation contained in Deed executed by Rosie Brown, at at to 60-Jones Associates, Ltd., dated November 10, 2005, recorded in Volume 7020, Page 244, Official Records of Brazos County, Texas. (TRACTS ONE, TWO AND THREE) H. *Oil, Gas and Mineral Lease executed by Lucy Hudetts Walker, at ai to Union Pacific Resources Company, dated June 28, 2000, recorded in Volume 3856, Page 164, Official Records of Brazos County, Texas (2 year primary term). (TRACTS ONE, TWO AND THREE) o. *011, Gas and Mineral Lease executed by Steve Hudetts, Jr. to Union Pacific Resources Company, dated June 28, 2000, recorded in Volume 3856, Page 170, Official Records of Brazos County, Texas (2 year primary term). (TRACT FOUR) *Title to said interest has not been investigated subsequent to the date of the aforementioned instrument. p. Rights or tenants in possession under unrecorded leases. q. Section 13 of the Conditions and Stipulations of this Policy Is hereby deleted. Countersigned �LYaw�y�errsss Title . Company.of Brazos County Au4iorizad CountersiA Lawyers Title Insurance Corporation Page 2 Endorsement Serial Number Premium Amount Rate Rules) Property Type N/A 550.00 R41f Residential 1.4 G.E. No.: S30117 REVOLVING CREDIT ENDORSEMENT Attached to and made part of LAWYERS TITLE INSURANCE CORPORATION Mortgagee Policy Number G82.0404476, dated 27th day of August, 2007, Notwithstanding anything to the contrary contained in this policy, the following terms and provisions shall control and apply: This policy insures only to, and liability hereunder is thereby limited to, the extent of the amount of proceeds of the loan secured by the hen instrument set forth under Schedule A hereof actually disbursed as of the date of this policy, but increases as each subsequent advance or disbursement of loan proceeds is made and decreases as repayment of all or a portion of the amount of loan proceeds disbursed is made from time to time, so that any loss payable hereunder shall be limited to the aggregate amount of loan proceeds actually disbursed less the aggregate of all repayments thereof existing at the time a loss occurs hereunder; provided, however, that each disbursement of loan proceeds is made in good faith and without knowledge of any defects in, or objections to; chle; and further provided that in no event shall the liability of the Company hereunder exceed the face amount of this policy. 2. The Company hereby insures the Insured that any disbursements of such loan proceeds made subsequent to the date of this policy shall be deemed to have been made as of the date of this policy and shall have the same priority as any advances made as of the date of this policy, except as to (i) bankruptcies affecting the estate or interest described on Schedule "A" hereof prior to the date of any such advance or disbursement; and, (it) taxes, costs, charges, damages and other obligations to the government secured by statutory liens arising or recorded subsequent to the date of the policy. This endorsement when countersigned below by an Authorized Countersignature is made a part of said policy. Except as expressly modified by the provisions hereof, this endorsement is subject to the following policy matters: (I) insuring Provisions; (11) Exclusions from Coverage; (iti) Schedule "B" Exceptions; (iv) the Conditions and Stipulations; and (v) any prior endorsements. Except as stated herein, this endorsement does not; (i) extend the effective date of the policy and/or any prior endorsements; or, (if) Increase the face amount of the policy. LAWYERS TITLE INSURANCE CORPORATION by: Lawyers Title Company flBrazos County Ey %/ 9 Authorized Countersignature ENDORSEMENT FORM T-35: Revolving Credit IMPORTANT NOTICE To obtain information or make a complaint: You may call Lawyers Title Insurance Corporation's toll -free telephone number for information or to make a complaint at: 1-800.447-7067 AVISO IMPORTANTE Para obtener informacion o pare someter una. queja: Listed puede Ilamar al numero de telefono gratis de Lawyers Title Insurance Corporation`s para informacion o pare someter una queja at: 1.800-447-7067 You may also write to Lawyers Title Insurance Usted tambien puede escrlbir a to Lawyers Corporation at: Title Insurance Corporation: 5600 Cox Road Glen Al ten, VA23060-9266 You may contact the Texas Department of Insurance to obtain information on companies, coverages, rights or complaints at. 1-800-252-3439 You may write to the Texas Department of Insurance: P. O. Box 149104 Austin, TX 78714-9104 Fax: (512) 475-1771 Web: http:Owww.tdl.state.tx.us E-mail: ConsumerProtection((D_tdi.state.tx.us PREMIIUM OR CLAIM DISPUTES: Should you have a dispute concerning your premium or about a claim you should contact the company first. If the dispute is not resolved, you may contact the Texas Department of Insurance. ATTACH THIS NOTICE TO YOUR POLICY: This notice Is for information only and does not become a part or condition of the attached document. FORM 3391-12 Pagel 5600 Cox Road Glen Allen, VA 23060.9266 Puede comunicarsa con at Departamento de Seguros de Texas para obtener informacion acerca de companias, coberturas, derechos o quejas al: 1-800-252-3439 Puede escrlbir al Departmento de Seguros de Texas: P. 0. Box 149104 Austin, TX 78714-9104 'Fax:(512)475-1771 Web: htto://Www.tdi.state.tx,us E-mail: ConsumerProtectlonntdi.state.tx.us DISPUTES SOBRE PRIMAS O RECLAMOS: Sl tiene una dispute concernlente a su prima o a un reciamo, debe comunicarse con la compania primero. SI no se resueive Is dispute, puede entonces comunicarsa con el departamento (TDI). UNA ESTE AVISO A SU POLIZA: Este aviso as solo pare proposito de informacion y no as convierte an parts o condicion del documento adjunto.