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Home My WebLink About10-00500128- 00075471Brazos County Abstract Company "More than 130 Years of Title Service" P.O. Box 4704 Phone: (979) 731 -1900 3800 Cross Park Drive Bryan, TX 77805 -4704 Facsimile: (979) 731 -8352 Bryan, TX 77802 BCAC GF NO. 149574 Title Report Prepared June 16, 2010 for D. Phillips Contracting, LLC Brazos County Abstract Company More thou 130 Years of Title Service EFFECTIVE DATE: June 15, 2010 at 8:00 a.m. GF NO. 149574 PROPERTY DESCRIPTION: Being all those certain lots, tracts or parcels of land lying and being situated in Brazos County, Texas and being Lots Thirty -one (31), Thirty-two (32) and Thirty-three (33), Block Two (2), THE BARRACKS SUBDIVISION, PHASE 2, an addition to the City of College Station, Texas, according to plat recorded in Volume 9512, page 209, Official Records of Brazos County, Texas. TITLE APPEARS TO BE VESTED IN: D. PHILLIPS CONTRACTING, LLC by Warranty Deed with Vendor's Lien from Greens Prairie Investors, Ltd. dated March 25, 2010, recorded in Volume 9551, page 234, Official Records of Brazos County, Texas, SUBJECT TO: LIENS: Construction Deed of Trust dated March 25, 2010, executed by D. Phillips Contracting, LLC to Ivan M. Olson, Trustee, securing one note of even date payable to The Bank & Trust of Bryan/College Station, in the principal amount of $375,760.00, recorded in Volume 9551, page 238, Official Records of Brazos County, Texas. 2. ABSTRACT OF JUDGMENT/FEDERAL AND /OR STATE LIENS: NONE OF RECORD. 3. EASEMENTS: Easements as shown of record on plat of The Barracks Subdivision, Phase 2, recorded in Volume 9512, page 209, Official Records of Brazos County, Texas. Right -of -Way Easement from W. E. Gandy et ux to City of Bryan, dated April 7, 1937, recorded in Volume 98, page 95, Deed Records of Brazos County, Texas. Right -of -Way Easement fiom W. E. Gandy et ux to Sinclair Refining Company, dated March 24, 1947, recorded in Volume 132, page 110, Deed Records of Brazos County, Texas, assigned to Sinclair Pipe Line Company by instrument dated December 14, 1950, recorded in Volume 147, page Brazos County Abstract Company "More than 130 Years of Title Service" 417, Deed Records of Brazos County, Texas, and assigned to Explorer Pipeline Company by instrument dated October 31, 2007, recorded in Volume 8326, page 91, Official Records of Brazos County, Texas. Right -of -Way Easement from Jerry W. Merker to Wellborn Water Supply Corporation, dated June 9, 1983, recorded in Volume 785, page 283, Official Records of Brazos County, Texas. 4. OUTSTANDING MINERALS AND /OR ROYALTIES: Mineral reservation in Deed from Charles W. Gandy to Jerry Merker, dated March 14, 1980, recorded in Volume 447, page 223, Deed Records of Brazos County, Texas. Title to this reservation has not been traced subsequent to the date of the above -cited instrument. Mineral reservation in Deed from Jerry W. Merker et ux to Kirk Strawn et ux, dated May 23, 1989, recorded in Volume 1120, page 786, Official Records of Brazos County, Texas. Title to this reservation has not been traced subsequent to the date of the above -cited instrument. 5. OIL & GAS LEASES:Estate created by Oil and Gas Lease from Jerry W. Merker et ux to Baker Exploration, dated January 20, 1984, recorded ill Volume 643, page 761, Official Records of Brazos County, Texas. Title to this lease has not been traced subsequent to the date of the above -cited instrument. Estate created by Oil and Gas Lease from Jerry W. Merker et ux to Keith D. Graham, dated July 18, 1991, recorded in Volume 1343, page 132, Official Records of Brazos County, Texas. Title to this lease has not been traced subsequent to the date of the above -cited instrument. Estate created by Oil and Gas Lease from Kirk Strawn et ux to Keith D. Graham, dated November 7, 1991, recorded in Volume 1373, page 103, Official Records of Brazos County, Texas. Title to this lease has not been traced subsequent to the date of the above -cited instrument. Estate created by Oil and Gas Leases from Jerry W. Merker et at to Showdown Energy Corporation, dated December 15, 1993, recorded in Volume 2029, pages 234 and 236 and corrected by instrument recorded in Volume 2376, page 3, Official Records of Brazos County, Texas. Title to this lease has not been traced subsequent to the date of the above -cited instrument. Estate created by Oil and Gas Lease from Charles W. Gandy ct ux to Shield Petroleum, dated February 2, 1996, recorded in Volume 2535, page 188, Official Records of Brazos County, Texas. Title to this lease has not been Brazos County Abstract Company "More than 130 Years of Title Service" traced subsequent to the date of the above -cited instrument. 6. RESTRICTIONS: Restrictive covenants recorded in Volume 8986, page 115 and amended in Volume 9549, page 95, Official Records of Brazos County, Texas. 7. TAXES: NO SEARCH MADE. 8. MISCELLANEOUS: Terms, conditions and stipulations set forth in Declaration of Covenants, Conditions and Restrictions executed by Greens Prairie Investors, Ltd., dated March 3, 2009, recorded in Volume 8986, page 115 and amended in Volume 9549, page 95, Official Records of Brazos County, Texas. Maintenance Charge set forth in the Declaration of Covenants, Conditions and Restrictions executed by Greens Prairie Investors, Ltd., dated March 3, 2009, recorded in Volume 8986, page 115, Official Records of Brazos County, Texas. THIS TITLE REPORT IS ISSUED WITH THE EXPRESS UNDERSTANDING, EVIDENCED BY THE ACCEPTANCE OF SAME THAT THE UNDERSIGNED, BRAZOS COUNTY ABSTRACT COMPANY DOES NOT UNDERTAKE HEREIN TO GIVE OR EXPRESS ANY OPINION AS TO THE VALIDITY OF THE TITLE TO THE PROPERTY ABOVE DESCRIBED, NOR AS TO THE VALIDITY OF ANY OF THE INSTRUMENTS REPORTED HEREIN, INCLUDING THE PURPORTED DEED(S) ESTABLISHING THE RECORD OWNER(S) CITED ABOVE, BUT IS SIMPLY REPORTING BRIEFLY HEREIN AS TO THE INSTRUMENTS FOUND OF RECORD PERTAINING TO SAID PROPERTY, AND IT IS EXPRESSLY UNDERSTOOD AND AGREED THAT THIS TITLE REPORT IS NEITHER A GUARANTY NOR WARRANTY OF THE TITLE. BY ACCEPTANCE OF THIS TITLE REPORT IT IS UNDERSTOOD THAT THE LIABILITY OF THE ISSUER HEREOF IS EXPRESSLY LIMITED TO THE ACTUAL MONETARY CONSIDERATION PAID FOR SAID REPORT BY D. PHILLIPS CONTRACTING, LLC. THIS SEARCH HAS BEEN LIMITED TO THE ABOVE MATTERS AND THE ABOVE TIME PERIOD; AND WE HAVE NOT SEARCHED FOR, NOR HAVE REFLECTED HEREIN, ANY EXAMINATION AS TO TAX SUITS, SPECIAL ASSESSMENTS, CONFLICTS OR OTHER INSTRUMENTS WHICH MAY AFFECT TITLE TO THE SUBJECT PROPERTY. IF TITLE INSURANCE COVERAGE, WHICH IS NOT PROVIDED BY THIS REPORT, IS NEEDED, SAID COVERAGE IS AVAILABLE THROUGH THE APPLICABLE PROMULGATED POLICY(IES), AND AT A SPECIFIED RATE PREMIUM. BRAZOS COUNTY ABSTRACT COMPANY BY: Kl),_n fo�o LISA KEMP