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HomeMy WebLinkAbout10-00500054- 00075081TEXAS COMMITMENT FOR TITLE INSURANCE SCHEDULE A Effective Date: December 6, 2009 at 8:00 a.m. GF No. 00093937 Commitment issued December 22, 2009, 8:00 a.m. 1. The policy or policies to be issued are: (a) OWNER POLICY OF TITLE INSURANCE (Form T-1) (Not applicable for improved one-to-four family residential real estate) Policy Amount: $344,000.00 PROPOSED INSURED: Chad Jackson (b) TEXAS RESIDENTIAL OWNER POLICY OF TITLE INSURANCE - ONE-TO-FOUR FAMILY RESIDENCES (Form T-IR) Policy Amount: $ PROPOSED INSURED: (c) MORTGAGEE POLICY OF TITLE INSURANCE (FORM T-2) Policy Amount: $275,200.00 PROPOSED INSURED: Proposed Borrower: Chad Jackson (d) TEXAS SHORT FORM RESIDENTIAL MORTGAGEE POLICY (Form T-2R) Policy Amount: $ PROPOSED INSURED: Proposed Borrower: (e) MORTGAGEE TITLE POLICY BINDER ON INTERIM CONSTRUCTION LOAN (Form T-13) Binder Amount: $ PROPOSED INSURED: Proposed Borrower: (f) OTHER: Policy Amount: $ PROPOSED INSURED: 2. The interest in the land covered by this Commitment is: Fee simple 3. Record Title to the land on the Effective Date appears to be vested in: Edna Faye Goodman - Tract One Andrew R. White - Tract Two University Title Company Fidelity National Title Insurance Company Texas Commitment (Rev. 1-1-93) - Schedule A Valid Only if Schedule B and C, and Cover are attached ~6~ SCHEDULE A - continued 4. Legal description of land: See Exhibit A attached hereto and made a part hereof. GF No. 00093937 SCHEDULE B GF No. 00093937 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 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 l 1.13, 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.") b. 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-211). (Applies to Texas Short Form Residential Mortgagee Policy (T-2R) only. Separate exceptions 1 through 8 of this Schedule B do not apply to the Texas Short Form Residential Mortgagee Policy (T- 2R). University Title Company Texas Commitment (Rev. 1-1-93) - Schedule B Fidelity National Title Insurance Company Valid Only if Schedule A and C, and Cover are attached RZ/ SCHEDULE B - continued GF No. 00093937 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. "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 herein." c. 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 southeast sides of the property, as shown on survey prepared on December 2, 2009, under the supervision of Henry P. Mayo, R.P.L.S. #5045. (OWNER POLICY ONLY) (Tract 2) d. Fence lies outside the property on the southeast side of the property, as shown on survey prepared on December 2, 2009, under the supervision of Henry P. Mayo, R.P.L.S. #5045. (OWNER POLICY ONLY) (Tract 2) e. 15' Easement on the northeast side: From: Andrew Ray White, et al To: Wellborn Special Utility District Dated: May 3, 2000 Recorded: Volume 3846, Pages 279 through 304, Official Records, Brazos County, Texas; as shown on survey prepared on December 2, 2009, under the supervision of Henry P. Mayo, R.P.L.S. #5045. (Tract 2) f. Easement: From: Elias White To: City of Bryan Dated: December 22, 1949 Recorded: Volume 141, Page 303, Deed Records, Brazos County, Texas; as shown on survey prepared on December 2, 2009, under the supervision of Henry P. Mayo, R.P.L.S. #5045. (Tract 2) g. Terms, Conditions, and Stipulations in the Development Agreement by and between: Parties: Edna F. Goodman and City of College Station Dated: December 18, 2007 Recorded: Volume 8394, Page 277, Official Records, Brazos County, Texas. (Tract 1) h. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Andrew R. White, Individually and as Executor of the Estate of Abner White, deceased Lessee: R & R Resources Dated: February 20, 2001 Recorded: Volume 4174, Page 248, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. f i SCHEDULE C GF No. 00093937 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 2010 and subsequent years, but not those taxes or assessments for prior years because of an exemption granted to a previous owner of the property under Section 11. 13, Texas Tax Code, or because of improvements not assessed for a previous tax year.", upon payment of applicable premium. (As to Mortgagee Policy T-2 Only) (If Texas Short Form Residential Mortgagee Policy (T 2R) is issued, that policy will substitute "which become due and payable subsequent to Date of Policy" in lieu of "for the yea- and subsequent years.") 7. If requested in lenders closing instructions and all of our underwriting requirements are satisfiel, 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 curren; 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.) 11. ARBITRATION: The Owner Policy of Title Insurance (Form T-1) and the Mortgagee Policy of Title Insurance (Form T-2) contain an University Title Company Texas Commitment (Rev. 1-1-93) - Schedule C Fidelity National Title Insurance Company Valid Only if Schedule A and B, and Cover are attached 1ff , i SCHEDULE C - continued GF No. 00093937 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 1: 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: None of record. Vesting Deed to owners shown herein was dated December 27, 2004 and recorded in Volume 6525, Page 148, Official Records, Brazos County, Texas. (Tract One) Vesting Deed to owners shown herein was dated July 13,1987 and recorded in Volume 984, Page 567, Official Records, Brazos County, Texas. (Tract Two) 14. Title Company is on notice that Amelia a/k/a Armelia White, is deceased. We find no probate proceedings in Brazos County. We will require one of the following: a. Certified copies of the probate documents to be filed in Brazos County. b. Affidavit of Heirship signed by two disinterested parties regarding said estate, and a certified copy of the decedent's death certificate. In addition, we will require proof that Federal Estate and State Inheritance Taxes have been paid or that same are not due for the Estate of Amelia a/k/a Armelia White, deceased. We reserve the right to make additional requirements after review of the required documents. 15. Record title is as shown on Schedule A. The application reflects Andrew R. White as the seller. Determine the disposition of the interest of Edna Faye Goodman. Additional requirements may be necessary. 16. Require a Quit Claim Deed from Union Pacific Railroad Company, a Delaware Corporation to Andrew R. White, as to the .79 acres on the northeast side of Tract Two. 17. Require a metes and bounds description for the 3.43 acres to be conveyed from Tract One. Al SCHEDULE C - continued GF No. 00093937 18. Furnish the marital status of Edna Faye Goodman and Andrew R. White. Company requires the joinder of spouse(s) in any transaction involving subject property. University Title Company Authorized CountersigAture (ARB/Ibj) 6b SCHEDULED GF No. 00093937 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 of FIDELITY NATIONAL TITLE INSURANCE COMPANY: DIRECTORS Alan L. Stinson Raymond R. Quirk Anthony J. Park OFFICERS Alan L. Stinson Raymond R. Quirk Joseph W. Grealish Anthony J. Park Patrick G. Farenga Todd C. Johnson Chief Executive Officer/C.E.O President Executive Vice President Chief Financial Officer Sr. Vice President/Treasurer Sr. Vice President/Secretary Fidelity National Financial, Inc. owns 100% of Fidelity National Title Insurance Company. 2. The following disclosures are made by the Title Insurance Agent issuing this Commitment: 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 (1011/6) or more of an entity that has, owns or controls one percent (1%) 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: Owner Policy $ 2,146.00 Mortgagee Policy $ 100.00 Endorsement Charges $ 227.90 Total $ 2,473.90 University Title Company Texas Commitment (Rev. 1-1-93) - Schedule D Fidelity National Title Insurance Company Valid Only if Schedule A, B and C, and Cover are attached T~' SCHEDULE D GF No. 00093937 Of this total amount: $ or 15.00% 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 WHO 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. This Commitment is invalid unless the insuring provisions and Schedules A, B and C are attached. University Title Company Fidelity National Title Insurance Company Texas Commitment (Rev. 1-1-93) - Schedule D Valid Only if Schedule A, B and C, and Cover are attached 4P Exhibit A Tract One: 3.43 acres to be surveyed our of all that certain 8.0000 acre tract or parcel of land located lying and being situated in the Peter Norton Survey, Abstract no. 186, in Brazos County, Texas; being out of the westerly portion of a certain 21.4558 acre tract out of the Abner White and wife, Amelia White, property described in instrument dated November 6, 1911, recorded in Volume 33, Page 387, Deed Records of Brazos County, Texas, and being more particularly described as follows: BEGINNING at a point at the West corner of a 21.4076 acre tract being located S 45° E, 40.00 feet in the northeast line of the Abbate Tract, being in the center line of Rock Prairie Road (80-foot right-of-way); THENCE N 45° 00'00" East, with the southeast right-of-way line of Rock Prairie Road as right-of-way exists, a distance of 480.00 feet to a 1/2 inch iron rod set at the North corner of the herein described 8.0000 acre tract and marking the West corner of the remainder 16.3473 acres; THENCE S 45° 00' 00" E, perpendicular to the aforementioned line and crossing in to said 21.4076 acre tract, a distance of 726.00 feet to a 1/2 inch iron rod set at the East corner of the herein described 8.0000 acre tract and marking a re-entrant corner of said remainder 16.3473 acre tract; THENCE S 45° 00' 00" W, parallel to the southeast right-of-way line of Rock Prairie Road, a distance of 480.00 feet to a 1/2 inch iron rod set at the South corner of the herein described 8.0000 acre tract and located N 45° 00' 00" W, a distance of 175.67 feet from an old fence post corner at the South corner of said 21.4076 acre tract; THENCE N 45° 0010011 W, with the Northeasterly boundary line of the Grace Abbate 169.63 acre tract, described in instrument recorded in Volume 3784, Page 250, Official Records of Brazos County, Texas, a distance of 726.00 feet to the PLACE OF BEGINNING, containing 8.0000 acres of land, more or less. Tract Two., All that certain tract or parcel of land lying and being situated in the Peter Norton Survey, Abstract no. 186, in College Station, Brazos County, Texas, being a part of that 89.5 acre tract conveyed to Abner White by deed recorded in Volume 984, Page 567 of the Official Records of Brazos County, Texas, and being more particularly described as follows: BEGINNING at the point of intersection of the southwest line of that 125' wide right-of-way conveyed to the International & Great Northern Railroad Company by deed recorded in Volume 24, Page 357 of the Deed Records of Brazos County, Texas, and the southeast line of the Rock Prairie Road West 100' wide right-of-way described in deed to Brazos County and recorded in Volume 3365, Page 311 of the Official Public Records of Brazos County, Texas, from where the City of College Station GPS control monument no. 117 bears N 65° 26' 58" E - 1523.5'. THENCE S 22° 03' 48" E - 975.22 feet along southwest line of the said I&GN Railroad tract to a point in the northwest lien of that 2.56 acre tract conveyed to Travis Williams, Sr. and wife Helen Williams by deed recorded in Volume 976, Page 785 of the Official Records of Brazos County, Texas; THENCE S 41° 43'08" W - 511.96 feet, generally along an old barbed-wire fence, along the line between the said Abner White tract and the said Williams 2.56 acre tract, to a 3/4" iron bar and 112" iron rod found at the north fence corner of that 2.00 acre tract conveyed to Ervin M. Williams, Sr. and wife, Mildred Williams by deed recorded in Volume 976, Page 782 of the Official Records of Brazos County, Texas; THENCE S 41° 21'44" W - 164.39 feet, generally along a barbed-wire fence, along the line between the said Abner White tract and the said Williams 2.00 acre tract, to a 3/4" iron bar found at the west fence corner of the said 2.00 acre tract; THENCE N 460 49' 59" W -170.22 feet through the said Abner White tract to a 1/2" iron rod with an orange plastic cap stamped "H.P. Mayo RPLS 5045" set in the southeast line of that 8.000 acre tract conveyed to Edna Faye Goodman by deed recorded in Volume 6525, Page 148 of the Official Public Records of Brazos County, Texas, from where a 5/8" iron rod found at the south corner of the said Goodman tract bears S 43° 10' Ol" W - 46.721; THENCE N 43° 10'01" E - 435.51 feet continuing through the said Abner White tract and along the said Goodman tract southeast line, to a 1/2" iron rod found at the east corner of the same; THENCE N 48° 00' 15" W - 728.93 feet continuing through the said Abner White tract and along the northeast line of the said Goodman tract to a 1/2" iron rod with an orange plastic cap stamped "H.P. Mayo RPLS 5045" set in the southeast right-of- way line of Rock Prairie Road West, from where a 1/2" iron rod found marking the north corner of the said Goodman tract bears N 48° 00' 15" W - 4.841; THENCE N 41° 46'38" E - 557.36 feet along the said southeast right-of-way line to a 1/2" iron rod with an orange plastic cap stamped "H.P.Mayo RPLS 5045" set at the beginning of a tangent curve to the right (R=500.00'); THENCE continuing with the said southeast right-of-way line, along the are of said curve through a central angle of 12° 18' 48", the chord of which bears N 47° 56102" E - 107.25 feet, to the Point of Beginning and containing 10.87 acres 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. r~~ , TEXAS COMMITMENT FOR TITLE INSURANCE SCHEDULE A Effective Date: December 6, 2009 at 8:00 a.m. Commitment issued December 23, 2009, 8:00 a.m. 1. The policy or policies to be issued are: (a) OWNER POLICY OF TITLE INSURANCE (Form T-1) (Not applicable for improved one-to-four family residential real estate) Policy Amount: $344,000.00 PROPOSED INSURED: Chad Jackson (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: $275,200.00 PROPOSED INSURED: Proposed Borrower: Chad Jackson (d) TEXAS SHORT FORM RESIDENTIAL MORTGAGEE POLICY (Form T-2R) Policy Amount: $ PROPOSED INSURED: Proposed Borrower: GF No. 00093937 (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: Edna Faye Goodman - Tract One Andrew R. White - Tract Two University Title Company Fidelity National Title Insurance Company Texas Commitment (Rev. 1-1-93) -Schedule A Valid Only if Schedule B and C, and Cover are attached SCHEDULE A - continued GF No. 00093937 4. Legal description of land: See Exhibit A attached hereto and made a part hereof. SCHEDULE B GF No. 00093937 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 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 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 Fidelity National Title Insurance Company Texas Commitment (Rev. 1-1-93) - Schedule B Valid Only if Schedule A and C, and Cover are attached SCHEDULE B - continued GF No. 00093937 exceptions 1 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. "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 herein." c. 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 southeast sides of the property, as shown on survey prepared on December 2, 2009, under the supervision of Henry P. Mayo, R.P.L.S. #5045. (OWNER POLICY ONLY) (Tract 2) d. Fence lies outside the property on the southeast side of the property, as shown on survey prepared on December 2, 2009, under the supervision of Henry P. Mayo, R.P.L.S. #5045. (OWNER POLICY ONLY) (Tract 2) e. 15' Easement on the northeast side: From: Andrew Ray White, et al To: Wellborn Special Utility District Dated: May 3, 2000 Recorded: Volume 3846, Pages 279 through 304, Official Records, Brazos County, Texas; as shown on survey prepared on December 2, 2009, under the supervision of Henry P. Mayo, R.P.L.S. 45045. (Tract 2) f. Easement: From: Elias White To: City of Bryan Dated: December 22, 1949 Recorded: Volume 141, Page 303, Deed Records, Brazos County, Texas; as shown on survey prepared on December 2, 2009, under the supervision of Henry P. Mayo, R.P.L.S. #5045. (Tract 2) g. Terms, Conditions, and Stipulations in the Development Agreement by and between: Parties: Edna F. Goodman and City of College Station Dated: December 18, 2007 Recorded: Volume 8394, Page 277, Official Records, Brazos County, Texas. (Tract 1) h. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Andrew R. White, Individually and as Executor of the Estate of Abner White, deceased Lessee: R & R Resources Dated: February 20, 2001 Recorded: Volume 4174, Page 248, 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. 00093937 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 2010 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 H. 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 Fidelity National Title Insurance Company Texas Commitment (Rev. 1-1-93) -Schedule C Valid Only if Schedule A and B, and Cover are attached SCHEDULE C - continued GF No. 00093937 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 1: 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: None of record. Vesting Deed to owners shown herein was dated December 27, 2004 and recorded in Volume 6525, Page 148, Official Records, Brazos County, Texas. (Tract One) Vesting Deed to owners shown herein was dated July 13, 1987 and recorded in Volume 984, Page 567, Official Records, Brazos County, Texas. (Tract Two) 14. Title Company is on notice that Amelia a/Wa Armelia White, is deceased. We find no probate proceedings in Brazos County. We will require one of the following: a. Certified copies of the probate documents to be filed in Brazos County. b. Affidavit of Heirship signed by two disinterested parties regarding said estate, and a certified copy of the decedent's death certificate. In addition, we will require proof that Federal Estate and State Inheritance Taxes have been paid or that same are not due for the Estate of Amelia a/k/a Armelia White, deceased. We reserve the right to make additional requirements after review of the required documents. 15. Record title is as shown on Schedule A. The application reflects Andrew R. White as the seller. Determine the disposition of the interest of Edna Faye Goodman. Additional requirements may be necessary. 16. Require a Quit Claim Deed from Union Pacific Railroad Company, a Delaware Corporation to Andrew R. White, as to the .79 acres on the northeast side of Tract Two. SCHEDULE C - continued GF No. 00093937 17. Require a metes and bounds description for the 3.43 acres to be conveyed from Tract One. 18. Furnish the marital status of Edna Faye Goodman and Andrew R. White. Company requires the joinder of spouse(s) in any transaction involving subject property. University Title Company By: Authorized Countersignature (ARB/Ibj) SCHEDULE D GF No. 00093937 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 of FIDELITY NATIONAL TITLE INSURANCE COMPANY: DIRECTORS Alan L. Stinson Raymond R. Quirk Anthony J. Park OFFICERS Alan L. Stinson Raymond R. Quirk Joseph W. Grealish Anthony J. Park Patrick G. Farenga Todd C. Johnson Chief Executive Officer/C.E.O President Executive Vice President Chief Financial Officer Sr. Vice President/Treasurer Sr. Vice President/Secretary Fidelity National Financial, Inc. owns 100% of Fidelity National Title Insurance Company. 2. The following disclosures are made by the Title Insurance Agent Issuing this Commitment: a. The names of each shareholder, owner, partner or other person having, owning or controlling one percent (10/6) 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 (1%) 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: Owner Policy $ 2,146.00 Mortgagee Policy $ 100.00 Endorsement Charges $ 227.90 Total $ 2,473.90 University Title Company Fidelity National Title Insurance Company Texas Commitment (Rev. 1-1-93) - Schedule D Valid Only if Schedule A, B and C, and Cover are attached SCHEDULE D GF No. 00093937 Of this total amount: $ or 15.00% 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. This Commitment is invalid unless the insuring provisions and Schedules A, B and C are attached. University "Title Company Fidelity National Title Insurance Company Texas Commitment (Rev. 1-1-93) - Schedule D Valid Only if Schedule A, B and C, and Cover are attached Exhibit A Tract One: 3.43 acres to be surveyed our of all that certain 8.0000 acre tract or parcel of land located lying and being situated in the Peter Norton Survey, Abstract no. 186, in Brazos County, Texas; being out of the westerly portion of a certain 21.4558 acre tract out of the Abner White and wife, Amelia White, property described in instrument dated November 6, 1911, recorded in Volume 33, Page 387, Deed Records of Brazos County, Texas, and being more particularly described as follows: BEGINNING at a point at the West corner of a 21.4076 acre tract being located S 45" E, 40.00 feet in the northeast line of the Abbate Tract, being in the center line of Rock Prairie Road (80-foot right-of-way); THENCE N 45" 00' 00" East, with the southeast right-of-way line of Rock Prairie Road as right-of-way exists, a distance of 480.00 feet to a 1/2 inch iron rod set at the North corner of the herein described 8.0000 acre tract and marking the West corner of the remainder 16.3473 acres; THENCE S 45" 00' 00" E, perpendicular to the aforementioned line and crossing in to said 21.4076 acre tract, a distance of 726.00 feet to a 1/2 inch iron rod set at the East corner of the herein described 8.0000 acre tract and marking a re-entrant corner of said remainder 16.3473 acre tract; THENCE S 45" 00' 00" W, parallel to the southeast right-of-way line of Rock Prairie Road, a distance of 480.00 feet to a 1/2 inch iron rod set at the South corner of the herein described 8.0000 acre tract and located N 45" 00' 00" W, a distance of 175.67 feet from an old fence post corner at the South corner of said 21.4076 acre tract; THENCE N 45" 00' 00" W, with the Northeasterly boundary line of the Grace Abbate 169.63 acre tract, described in instrument recorded in Volume 3784, Page 250, Official Records of Brazos County, Texas, a distance of 726.00 feet to the PLACE OF BEGINNING, containing 8.0000 acres of land, more or less. Tract Two: All that certain tract or parcel of land lying and being situated in the Peter Norton Survey, Abstract no. 186, in College Station, Brazos County, Texas, being a part of that 89.5 acre tract conveyed to Abner White by deed recorded in Volume 984, Page 567 of the Official Records of Brazos County, Texas, and being more particularly described as follows: BEGINNING at the point of intersection of the southwest line of that 125' wide right-of-way conveyed to the International & Great Northern Railroad Company by deed recorded in Volume 24, Page 357 of the Deed Records of Brazos County, Texas, and the southeast line of the Rock Prairie Road West 100' wide right-of-way described in deed to Brazos County and recorded in Volume 3365, Page 311 of the Official Public Records of Brazos County, Texas, from where the City of College Station CPS control monument no. 117 bears N 65" 26' 58" E - 1523.5'. THENCE S 22" 03' 48" E - 975.22 feet along southwest line of the said I&GN Railroad tract to a point in the northwest lien of that 2.56 acre tract conveyed to Travis Williams, Sr. and wife Helen Williams by deed recorded in Volume 976, Page 785 of the Official Records of Brazos County, Texas; THENCE S 41" 43' 08" W - 511.96 feet, generally along an old barbed-wire fence, along the line between the said Abner White tract and the said Williams 2.56 acre tract, to a 3/4" iron bar and 1/2" iron rod found at the north fence corner of that 2.00 acre tract conveyed to Ervin M. Williams, Sr. and wife, Mildred Williams by deed recorded in Volume 976, Page 782 of the Official Records of Brazos County, Texas; THENCE S 41° 21' 44" W - 164.39 feet, generally along a barbed-wire fence, along the line between the said Abner White tract and the said Williams 2.00 acre tract, to a 3/4" iron bar found at the west fence corner of the said 2.00 acre tract; THENCE N 46" 49' 59" W - 170.22 feet through the said Abner White tract to a 1/2" iron rod with an orange plastic cap stamped "H.P. Mayo RPLS 5045" set in the southeast line of that 8.000 acre tract conveyed to Edna Faye Goodman by deed recorded in Volume 6525, Page 148 of the Official Public Records of Brazos County, Texas, from where a 5/8" iron rod found at the south corner of the said Goodman tract bears S 43° 10' 01" W - 46.72'; THENCE N 43° 10' 01" E - 435.51 feet continuing through the said Abner White tract and along the said Goodman tract southeast line, to a 1/2" iron rod found at the east corner of the same; THENCE N 48° 00' 15" W - 728.93 feet continuing through the said Abner White tract and along the northeast line of the said Goodman tract to a 1/2" iron rod with an orange plastic cap stamped "H.P. Mayo RPLS 5045" set in the southeast right- of-way line of Rock Prairie Road West, from where a 1/2" iron rod found marking the north corner of the said Goodman tract bears N 48° 00' 15" W - 4.84'; THENCE N 41° 46' 38" E - 557.36 feet along the said southeast right-of-way line to a 1/2" iron rod with an orange plastic cap stamped "H.P.Mayo RPLS 5045" set at the beginning of a tangent curve to the right (R=500.00'); THENCE continuing with the said southeast right-of-way line, along the arc of said curve through a central angle of 12° 18' 48", the chord of which bears N 47° 56' 02" E - 107.25 feet, to the Point of Beginning and containing 10.87 acres 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.