HomeMy WebLinkAbout09-00500165- 00073892TEXAS COMMITMENT FOR TITLE INSURANCE
SCHEDULE A
Effective Date: May 10, 2009 t-8 09-a-a.
Commitment' sued July 24, 2009, 8:00 m.
1. The poll or policies t sued are:
(a) OWNER POLICY OF TITLE INSURANCE (Form T-1)
(Not applicable for improved one-to-four family residential real estate)
Policy Amount: $2,482,780.00
PROPOSED INSURED:
Starfish Development Group, LLC
(b) TEXAS RESIDENTIAL OWNER POLICY OF TITLE INSURANCE
- ONE-TO-FOUR FAMILY RESIDENCES (Form T-1R)
Policy Amount: $
PROPOSED INSURED:
(c) MORTGAGEE POLICY OF TITLE INSURANCE (FORM T-2)
Policy Amount: $
PROPOSED INSURED:
Proposed Borrower:
(d) TEXAS SHORT FORM RESIDENTIAL MORTGAGEE POLICY (Form T-2R)
Policy Amount: $
PROPOSED INSURED:
Proposed Borrower:
00-~
4pn
GF No.'00092399
(e) MORTGAGEE TITLE POLICY BINDER ON INTERIM CONSTRUCTION LOAN (Form T-13)
Binder Amount: $
PROPOSED INSURED:
Proposed Borrower:
(f) OTHER:
Policy Amount: $
PROPOSED INSURED:
2. The interest in the land covered by this Commitment is: Fee Simple
3. Record Title to the land on the Effective Date appears to be vested in:
TLS Properties, Ltd., a Texas Limited Partnership
University Title Company
First American Title Insurance Company
Texas Commitment T-7 (Rev. 1-1-93) . Schedule A Valid Only if Schedule B, C, D and Cover are attached
SCHEDULE A - continued
4. Legal description of land:
GF No. 00092399
See Exhibit A attached hereto and made a part hereof.
SCHEDULE B
GF No. 00092399
EXCEPTIONS FROM COVERAGE
In addition to the Exclusions and Conditions and Stipulations, your Policy will not cover loss, costs, attorney's fees, and
expenses resulting from:
1. The following restrictive covenants of record itemized below (We must either insert specific recording data or
delete this exception):
Item No. 1, Schedule B, is hereby deleted.
2. Any discrepancies, conflicts, or shortages in area or boundary lines, or any encroachments or protrusions, or any
overlapping of improvements.
3. Homestead or community property or survivorship rights, if any, of any spouse of any insured. (Applies to the
Owner Policy only.)
4. Any titles or rights asserted by anyone, including, but not limited to, persons, the public, corporations,
governments or other entities,
a. to tidelands, or lands comprising the shores or beds of navigable or perennial rivers and streams, lakes, bays,
gulfs or oceans, or
b. to lands beyond the line of the harbor or bulkhead lines as established or changed by any government, or
c, to filled-in lands, or artificial islands, or
d. to statutory water rights, including riparian rights, or
e. to the area extending from the line of mean low tide to the line of vegetation, or the rights of access to that
area or easement along and across that area.
(Applies to the Owner Policy only.)
5. Standby fees, taxes and assessments by any taxing authority for the year 2009, and subsequent years, and
subsequent taxes and assessments by any taxing authority for prior years due to change in land usage or ownership,
but not those taxes or assessments for prior years because of an exemption granted to a previous owner of the
property under Section 11. 13, Texas Tax Code, or because of improvements not assessed for a previous tax year. (If
Texas Short Form Residential Mortgagee Policy (T-2R) is issued, that policy will substitute "which become due
and payable subsequent to Date of Policy" in lieu of "for the year and subsequent years.")
6. The terms and conditions of the documents creating your interest in the land.
7. Materials furnished or labor performed in connection with planned construction before signing and delivering the
lien document described in Schedule A, if the land is part of the homestead of the owner.(Applies to the Mortgagee
Title Policy Binder on Interim Construction Loan only, and may be deleted if satisfactory evidence is furnished to
us before a binder is issued.)
8. Liens and leases that affect the title to the land, but that are subordinate to the lien of the insured
mortgage.(Applies to Mortgagee Policy T-2 only.)
9. The Exceptions from Coverage and Express Insurance in Schedule B of the Texas Short Form Residential
Mortgagee Policy (T-2R). (Applies to Texas Short Form Residential Mortgagee Policy (T-2R) only. Separate
University Title Company
First American Title Insurance Company
Texas Commitment T-7 (Rev. 1-1-93) - Schedule B Valid Only if Schedule A, C, D and Cover are attached
SCHEDULE B - continued
GF No. 00092399
exceptions I through 8 of this Schedule B do not apply to the Texas Short Form Residential Mortgagee Policy (T-
2R).
10. The following matters and all terms of the documents creating or offering evidence of the matters (We must insert
matters or delete this exception):
a. Rights of Parties in Possession. (OWNER POLICY ONLY)
b. Any Claim or right of adjoining property owner(s) to that strip of land lying between the fence and the
boundary line on the northwest and south sides of the property, as shown on survey prepared on February 27,
2007, under the supervision of Joseph Beavers, R.P.L.S. #4938. (OWNER POLICY ONLY).
c. Blanket Easement:
From: Sidney N. Smith, et al
To: Wellborn Water Supply Corporation
Dated: January 7, 1972
Recorded: Volume 303, Page 354, Deed Records, Brazos County, Texas, as noted on survey prepared on
February 27, 2007, under the supervision of Joseph Beavers, R.P.L.S. #4938.
d. Blanket Easement:
From: T. L. Smith, Jr.
To: Sinclair Refining Company
Dated: October 7, 1947
Recorded: Volume 132, Page 127, Deed Records, Brazos County, Texas, as noted on survey prepared on
February 27, 2007, under the supervision of Joseph Beavers, R.P.L.S. #4938.
e. 10' x 15' Valve Site Easement on the south side:
From: John D. Smith, et al
To: Ferguson-Burleson Gas Gathering System
Dated: July 15, 1997
Recorded: Volume 2788, Page 175, Official Records, Brazos County, Texas, as noted and as shown on
survey prepared on February 27, 2007, under the supervision of Joseph Beavers, R.P.L.S. 44938.
f. Terms, Conditions, and Stipulations in Lease Grazing Agreement referenced in Earnest Money Contract.
g. Mineral Reservation in Deed:
By: County of Brazos, Texas
To: TLP Properties, Ltd.
Dated: May 14, 2008
Recorded: Volume 8591, Page 273, Official Records, Brazos County, Texas. Title to said interest has not
been investigated subsequent to the date of the aforesaid instrument.
h. Royalty Deed:
By: T. L. Smith, Jr.
To: William Bukowski, et al
Dated: April 8, 1946
Recorded: Volume 123, Page 583, Deed Records, Brazos County, Texas. Title to said interest has not been
investigated subsequent to the date of the aforesaid instrument.
i. Royalty Deed:
By: Rosa Bukowski
To: W. N. Adkins
SCHEDULE B - continued
GF No. 00092399
Dated: March 30, 1984
Recorded: Volume 670, Page 171, Official Records, Brazos County, Texas. Title to said interest has not
been investigated subsequent to the date of the aforesaid instrument.
Royalty Deed:
By: Annie Bukowski
To: H. B. Young
Dated: June 17, 1985
Recorded: Volume 805, Page 67, Official Records, Brazos County, Texas. Title to said interest has not
been investigated subsequent to the date of the aforesaid instrument.
k. Waiver of Surface Use:
From: Ogden Resources, Ltd.
To: TLS Properties, Ltd.
Dated: September 5, 2008
Recorded: Volume 8874, Page 198, Official Records, Brazos County, Texas. Title to said interest has not
been investigated subsequent to the date of the aforesaid instrument.
Oil and Gas Lease, and all terms, conditions and stipulations therein:
Lessor: John Douglas Smith, et al
Lessee. Apache Corporation
Dated: September 24 1993
Recorded: Volume 2019, Page 294, Official Records, Brazos County, Texas. Title to said interest has not
been investigated subsequent to the date of the aforesaid instrument.
m. Memorandum of Oil and Gas Lease, and all terms, conditions and stipulations therein:
Lessor: County Brazos, Texas
Lessee: Threshold Energy, Inc.
Dated: April 7, 1984
Recorded: Volume 695, Page 1.52, Official Records, Brazos County, Texas. Title to said interest has not
been investigated subsequent to the date of the aforesaid instrument.
SCHEDULE C
GF No. 00092399
Your policy will not cover loss, costs, attorney's fees, and expenses resulting from the following requirements that will
appear as Exceptions in Schedule B of the Policy, unless you dispose of these matters to our satisfaction, before the date the
Policy is issued:
1. Documents creating your title or interest must be approved by us and must be signed, notarized and filed for
record.
2. Satisfactory evidence must be provided that:
- no person occupying the land claims any interest in that land against the persons named in paragraph 3 of
Schedule A,
- all standby fees, taxes, assessments and charges against the property have been paid,
- all improvements or repairs to the property are completed and accepted by the owner, and that all
contractors, sub-contractors, laborers and suppliers have been fully paid, and that no mechanic's, laborer's
or materialmen's liens have attached to the property,
- there is legal right of access to and from the land,
- (on a Mortgagee Policy only) restrictions have not been and will not be violated that affect the validity and
priority of the insured mortgage.
3. You must pay the seller or borrower the agreed amount for your property or interest.
4. Any defect, lien or other matter that may affect title to the land or interest insured, that arises or is filed after the
effective date of this Commitment.
5. Item No. 2 of Schedule B hereof shall be amended to read "shortages in area", upon our receipt of an acceptable
survey. (As to Mortgagee Policy Only)
6. Item No. 5 of Schedule B hereof shall be amended to read "standby fees, taxes and assessments by any taxing
authority for the year 2009 and subsequent years, but not those taxes or assessments for prior years because of an
exemption granted to a previous owner of the property under Section 1.1.13, Texas Tax Code, or because of
improvements not assessed for a previous tax year.", upon payment of applicable premium. (As to Mortgagee
Policy T-2 Only) (If Texas Short Form Residential Mortgagee Policy (T-2R) is issued, that policy will substitute
"which become due and payable subsequent to Date of Policy" in lieu of "for the year and subsequent years.")
7. If requested in lenders closing instructions and all of our underwriting requirements are satisfied, we will issue the
T17 & T19 Endorsements, upon payment of any applicable premiums. (As to Mortgagee Policy Only)
8. We will require an Affidavit as to Debts and Liens be signed and the original provided to us prior to issuance of
any title policies.
9. We will require a Waiver of Inspection (Rights of Parties in Possession) be signed by the Purchaser and the
original provided to us prior to issuance of any title policies.
10. We will require an original Tax Certificate be provided, showing all taxes paid current, prior to issuance of any
title policies. (If this transaction is not closing in our office, let us know if we need to order the tax certificate.)
University Title Company
First American Title Insurance Company
Texas Commitment T-7 (Rev. 1-1-93) - Schedule C Valid Only if Schedule A, B, D and Cover are anached
SCHEDULE C - continued
GF No. 00092399
11. ARBITRATION:
The Owner Policy of Title Insurance (Form T-1) and the Mortgagee Policy of Title Insurance (Form T-2) contain
an arbitration provision. It allows the Insured or the Company to require arbitration if the amount of insurance is
$2,000,000 or less. If the Insured wants to retain the right to sue the Company in case of a dispute over a claim,
the Insured must request deletion of the arbitration provision before the Policy is issued. The Insured may do this
by signing the Deletion. of Arbitration Provision form and returning it to the Company at or before the closing of
the real estate transaction or by writing to the Company.
NOTE l: If you are the lender in the transaction and desire deletion of the Arbitration Provision , please inform us
through your loan closing instructions.
NOTE 2: This does not apply to Texas Residential Owner Policy of Title Insurance - One to Four Family
Residences. If you are the purchasers of non-residential property and desire the deletion of the Arbitration
Provision, a form will be presented to you at closing for execution.
12. If subject transaction will utilize a prior survey, we will require a full size, legible copy of said survey, with
the surveyor's field notes, if any. Upon receipt of the existing survey, we reserve the right to determine whether
said survey is acceptable for insuring purposes according to our underwriter guidelines.
NOTE: While a survey may be acceptable for insuring purposes, all surveys are subject to final approval by lender.
13. Twenty-four Month Chain of Title:
We have examined the records of the County Clerk of Brazos County, Texas, as they are reflected in the
geographically indexed title plant of University Title Company and our records reflect that the following is a true
and correct list of DEEDS affecting title to the real property described supra for the preceding twenty-four
months:
Vesting Deed to owners shown herein was dated May 14, 2008 and recorded in Volume 8591, Page 273,
Official Records, Brazos County, Texas.
Vesting Deed to owners shown herein was dated January 1, 1998 and recorded in Volume 3022, Page 187
and Volume 3091, Page 243, Official Records, Brazos County, Texas.
Prior deed is dated July 23, 1968 and recorded in Volume 272, Page 425, Deed Records, Brazos County,
Texas.
14. Prior to closing, furnish a copy of the Limited Partnership Agreement of TLS Properties, Ltd. We will also
require proof that TLS Properties, Ltd., a Limited Partnership, has filed its Articles of Limited Partnership with
the appropriate state authority. Additional requirements may be made upon examination.
15. Abstractor's Note: Subject property is currently under review with City of College Station to finalize the platting
process.
University Title Company
By:
SCHEDULE D
GF No. 00092399
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. UNDERWRITER: First American Title Insurance Company, a California corporation.
Shareholder owning or controlling, directly or indirectly, ten percent or more of the shares of First American Title Insurance
Company: wholly owned subsidiary of The First American Corporation, a public company
Directors: Gary J. Beban, J. David Chatham, William G. Davis, Craig I. DeRoy, James L. Doti, Lewis W. Douglas, Jr.,
Paul B. Fay, Jr., Donald P. Kennedy, Parker S. Kennedy, Gary L. Kermott, Thomas A. Klemens, John W.
Long, Herbert B. Tasker, Frank E. O'Bryan, James M. Orphanides, Roslyn B. Payne, D. Van Skilling, Virginia
M. Ueberroth and Martin R- Wool
Officers: Chairman of the Board - Parker S. Kennedy; Vice Chairman of the Board - Donald P. Kennedy; President -
Gary Lewis Kermott; Vice President - Thomas A. Klemens;- Vice President/Secretary and Corporate Counsel
- Mark R. Amesen; Vice President and General Counsel - Timothy P. Sullivan; Vice President and Chief
Financial Officer - John R. Thomas; Regional Vice President - Tom E. Blackwell
2. AGENT: UNIVERSITY TITLE COMPANY
a. The names of each shareholder, owner, partner or other person having, owning or controlling one percent (1%) or more of the
Title Insurance Agent that will receive a portion of the premium are as follows:
Celia Goode
William C. Lipsey
Michael R. Hoelscher
b. Each shareholder, owner, partner or other person having, owning or controlling ten percent (10%) or more of an entity that
has, owns or controls one percent (10/6) or more of the Title Insurance Agent that will receive a portion of the premium are as
follows: not applicable
c. The following persons are officers and directors of the Title Insurance Agent:
Officers Directors
President - Celia Goode Celia Goode
Vice President - Michael R. Hoelscher Michael R. Hoelscher
Secretary/Treasurer - William C. Lipsey William C. Lipsey
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 any sum from the settlement of this transaction will be disclosed on the closing or settlement statement.
You are further advised that the estimated title premium* is:
Owners Policy $ 1.2158.00
Mortgage Policy $
Endorsement Charges $
Total $ 12,158.00
Of this total amount: $ or 1.5.00% will be paid to the policy issuing Title Insurance Company: $ or 85.00% will
be retained by the issuing Title Insurance Agent, and the remainder of the estimated premium will be paid to other parties as
follows:
Amount
$
To Whom
For Services
* The estimated premium is based upon information furnished to us as of the date of this Commitment for Title Insurance.
Final determination of the amount of the premium will be made at closing in accordance with the Rules and Regulations adopted by
the Commissioner of Insurance.
Exhibit A
Tract One:
Being 16.036 acres of land, surveyed by Landesign Services, Inc., out of the Crawford Burnet Survey, Abstract No. 7, Brazos
County, Texas and being a portion of Exhibit A, Item 2-3, called 134.041 acres, described in the Deed TLS Properties, Ltd.,
recorded in Volume 3022, Page 187 and Volume 3091, Page 243 both of the Official Records of Brazos County, Texas and
being more particularly described by metes and bounds as follows:
BEGINNING at a 1/2 inch iron rebar with cap marked "LANDESIGN" set in the north right of way line of Harvey Mitchell
Parkway (FM 2818) (R.O.W. width varies) at its intersection with the northwest line of said 134.041 acres, being the
southeast corner of a remainder of a called 58.30 acre tract of land described in the Warranty Deed to Arapaho, Ltd.,
recorded in Volume 354, Page 416 of the Deed Records of Brazos County, Texas, from which a 1/2 inch rebar found in said
north right of way line at its intersection with the east right of way line of Holleman Drive (60 foot R.O.W.) bears S 85" 31'
02" W a distance of 32.40 feet;
THENCE North 41° 2811.2" East along the northwest line of said 134.041 acres and the southeast line of said 58.30 acre tract,
passing a 1/2 inch iron rebar found for the southeast corner of Lot 2, Block A, Holleman Village Addition, a subdivision in
Brazos County, Texas, recorded in Volume 3613, Page 285 of the Deed Records of Brazos County, Texas at a distance of
425.40 feet and continuing for a total distance of 1358.69 feet to a 1/2 inch iron rebar found in the southwest right of way line
of Jones-Butler Road (90 foot R.O.W.) for the most easterly corner of said Lot 2, Block A, Holleman Village Addition and the
most westerly corner of a called 0.38 acre tract of land described in the Warranty Deed to the City of College Station, Texas
Recorded in 'volume 5064, Page 67 of the Official Public Records of Brazos County, Texas, from. which a 1/2 inch iron rebar
found for the most northerly corner of said Lot 2, Block A, Holleman Village Addition bears: North 48° 06' 17" West
(record: North 45° 40' 52" West - 730.61 feet) a distance of 730.53 feet;
THENCE along the southwest right of way line of said Jones-Butler Road (.90 foot.R.O.W.) and a curve to the right, having a
radius of 1.684.66 feet (record: 1684.66 feet), a delta angle of 13° 31' 26", a length of 397.64 feet and a chord which bears
South 41° 20' 05" East a distance of 396.72 feet to a 1/2 inch iron rebar found at the intersection of the southwest right of way
line of said Jones-Butler Road (90 foot R.O.W.) and the west line of a called 9.08 acre tract described in the Deed to the
County of Brazos by Missouri Pacific Railroad Company recorded in Volume 272, Page 425 of the Deed Records of Brazos
County, Texas;
THENCE South 22° 03' 44" East along the west line of said 9.08 acre tract a distance of 641.56 feet to a 1/2 inch iron rebar
with cap marked "LANDESIGN" set at the intersection of the west line of said 9.08 acre tract and the north right of way line
of Harvey Mitchell Parkway (FM 2818) (R.O.W. width varies);
THENCE along the north right of way line of Harvey Mitchell Parkway (FM 2818) (R.O.W. width varies) the following four
(4) courses:
South 88° 18' 02" West (record: South 89° 09' West - 233.4 feet) a distance of 228.91 feet to a Type 1 highway right of way
monument found;
South 83° 48' 02" 'Vest (record: South 86° 21' West - 226.3 feet) a distance of 226.30 feet to a 1/2 inch iron rebar with cap
marked "LANDES.IGN" set, from which a Type 1 highway right of way monument found bears North 72° 03' East a distance
of 3.5 feet;
South 83° 14' 02" West (record: South 85° 47' West - 500.00 feet) a distance of 500.00 feet to a calculated point, from which a
Type 1 highway right of way monument found bears North 171 13' East a distance of 0.8 feet;
South 85° 31' 02" West (record: South 88° 04' West - 444.0 feet) a distance of 453.84 feet to the POINT OF BEGINNING.
This parcel contains 16.036 acres of laud, more or less, out of the Crawford Burnett Survey, Abstract No. 7, Brazos County,
Texas.
Tract Two.
Being 0.4848 of one acre (21,120 sq. ft.) of land, surveyed by Landesign Services, Inc., out of the Crawford Burnet Survey,
Abstract No. 7, City of College Station, Brazos County, Texas, and being a portion of a called 9.08 acres, described in the
Deed to the County of Brazos, Recorded in Volume 272, Page 425, of the Deed Records of Brazos County, Texas, and being
more particularly described by metes and bounds as follows:
BEGINNING at a 1/2 inch iron rebar with cap marked "LANDESIGN" set at the intersection of the north right-of-way line
of Harvey Mitchell Parkway (FM 2818) (R.O.W. width varies) and the west right-of-way line of Jones-Butler Road (90 foot
R.O.W.);
THENCE South 88° 18' 02" West with the north right-of-way line of Harvey Mitchell Parkway (FM 2818) a distance of 42.67
feet to a 1/2 inch iron rebar with cap marked "LANDESIGN" set in the west line of said 9.08 acres in the easterly line of a
remainder of a called 134.041 acre tract of land conveyed to TLS .Properties, .Ltd. recorded in Volume 3022, Page 187 and
Volume 3091, Page 243, both of the Official Public Records of Brazos County, Texas;
THENCE North 22° 03' 44" West with the west line of said 9.08 acres and the easterly line of a remainder of said 134.041.
acres a distance of 641.56 feet to a 1/2 inch iron rebar found in the curving said southwest right of way line of Jones-Butler
Road;
THENCE with the said southwest right of way line of Jones-Butler Road, with a nontangent curve to the right, having a
radius of 1.684.66 feet, a delta angle of 12° 30' 38", a length of 367.84 feet and a chord which bears South 28° 19' 03" East a
distance of 367.11 feet to a 1/2 inch iron rebar found with cap marked "HP MAYO";
THENCE South 22° 03' 44" East with the southwest right of way line of Jones-Butler Road a distance of 291.48 feet to the
POINT OF BEGINNING, containing 0.4848 of one acre (21,120 sq. ft.) of land, more or less.
NOTE: The Company is prohibited from insuring the area or quantity of the land described herein. Any statement in the
above legal description of the area or quantity of land is not a representation that such area or quantity is correct, but is
made only for informational and/or identification purposes and does not override Item 2 of Schedule B hereof.
TLS OPERATING COMPANY LLC
TLS PROPERTIES, LTD
P.O. BOX 22046
HOUSTON, TEXAS 77227
01
May 8, 2000
In regard to the resignation of John D. Smith as President of TLS OPERATING COMPANY LLC, to be effective
May 15, 2000, the partners of TLS PROPERTIES LTD held a special meeting on May 8, 2000 to elect a new
President and Manager for the Company. By unanimous vote of all partners. being John D. Smith, individually and
as executor of the Sidney N. Smith Estate, Diane S. Simpson, and Donald G. Simpson, Bruce A. Smith was elected
as the President and Manager of TLS OPERATING COMPANY LLC. This change is to be effective as of May 15,
2000.
TLS OPERATING COMPANY LLC
general partner of
TLS PROPERTIES LTD
hn D. Smith
Diane S. Simpson
John D. Smith
P.O. Box 22046
Houston, Texas 77227
May 03, 2000
TLS OPERATING CO. LLC
TLS PROPERTIES LTD
P.O. Box 22046
Houston, Texas 77227
To: Limited Partners - TLS Properties Ltd.
I hereby resign from my position as President of TLS Operating Company, LLC, effective
May 15, 2000. With this resignation letter I request that the 60 day notice to partners be
waived. An election of all partners should be held prior to May 15th to elect a new President /
General Partner of TLS Operating Co. LLC .
Sincerely, p
John D. Smith