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HomeMy WebLinkAbout10-00500131- 00075476TEXAS COMMITMENT FOR TITLE INSURANCE SCHEDULE A Effective Date: June 13, 2010 at 8:00 a.m. Commitment issued June 24, 2010, 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: $270,000.00 PROPOSED INSURED: Entergy Texas, Inc. (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: $ PROPOSED INSURED: Proposed Borrower: (d) TEXAS SHORT FORM RESIDENTIAL MORTGAGEE POLICY (Form T -2R) Policy Amount: $ PROPOSED INSURED: Proposed Borrower: GF No. 00100498 (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: Tract One: Fee simple Tract Two: Easement 3. Record Title to the land on the Effective Date appears to be vested in: Bryan D. Jones, Charles Eric Jones and Marshall B. Jones - Tracts One and Two Charles B. Jones - 'Tract Two tiniversity Title Company Alliant National Title Texas Commitment T -7 (Rev. 1 -1 -93) - Schedule A Valid Only if Schedule 13, C, D and Cover are attached SCHEDULE B GF No. 00100498 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: The following restrictive covenants of record itemized below (We must either insert specific recording data or delete this exception): Tract One: Volume 9687, Page 106, Official Records, Brazos County, Texas, but deleting any covenants, conditions or restrictions indicating a preference, limitation or discrimination based on race, color, religion, sex, handicap, familial status, or national origin unless and only to the extent that said covenant (a) is exempt under Chapter 42, Section 3607 of the United States Code or (b) relates to handicap but does not discriminate against handicapped persons. 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.) University Title Company Alliant National Title 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. 00100498 m. Electric Easement: From: V. J. Boriskie and wife, Julia S. Boriskie To: Gulf States Utilities Company Dated: May 15, 1947 Recorded: Volume 130, Page 237, Deed Records, Brazos County, Texas. (Tract One) n. Electric Easement: From: Lydia Frances Boriskie, Executrix of the Estate of V. J. Boriskie, Deceased To: City of Bryan Dated: July 11, 1972 Recorded: Volume 307, Page 310, Deed Records, Brazos County, Texas. (Tract One) o. Electrical Easement: From: Lydia F. Boriskie To: Gulf States Utilities Company Dated: July 24, 1980 Recorded: Volume 456, Page 380, Deed Records, Brazos County, Texas. (Tract One) p. Pipeline Easements: From: V. J. Boriskie and J. M. Boriskie To: Humble Pipe Line Company Dated: July 21, 1919 Recorded: Volume 49, Page 18 and Volume 49, Page 33, Deed Records, Brazos County, Texas. Amended: Recorded: Volume 513, Page 156, Deed Records, Brazos County, Texas and Volume 854, Page 599, Official Records, Brazos County, Texas. (Tracts One & Two) q. Easement: From: Lydia F. Boriskie To: City of College Station Dated: February 23, 1982 Recorded: Volume 510, Page 629, Deed Records, Brazos County, Texas. (Tract One) r. Perpetual Easement: From: Lydia F. Boriskie To: City of College Station Dated: November 14,1988 Recorded: Volume 1085, Page 89, Official Records, Brazos County, Texas. (Tract One) s. Public Utility Easement: From: Charles B. Jones, et ux To: City of College Station Dated: March 24, 2006 Recorded: Volume 7239, Page 232, Official Records, Brazos County, Texas. (Tract One) SCHEDULE B - continued GF No. 00100498 Recorded: Volume , Page Records, Brazos County, Texas and as shown on plat recorded in Volume 9687, Page 106, Official Records, Brazos County, Texas. aa. 50' Easement on Plat of Entergy Switch Station containing 1.130 acres: To: City of College Station Dated: June 15, 2010 Recorded: Volume 9687, Page 106, Official Records, Brazos County, Texas. SCHEDULE C - continued GF No. 00100498 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 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 November 5, 2008 and recorded in Volume 8875, Page 191, Official Records, Brazos County, Texas. 14. Furnish the marital status of Bryan D. Jones, Charles Eric Jones and Marshall B. Jones. Company requires the joinder of spouse(s) in any transaction involving subject property. 15. File for record the proposed plat for Entergy Switch Station Subdivision. 16. Plat states that 0.8947 acres of Lot 1, Block 1, is dedicated to the City of College Station in fee simple. If so, the insured legal description will Save & Except this tract from purchaser's policy. University Title Company By: Authorized Countersignature (JMP /rdf) Exhibit A Tract One: Fee Simple That certain 15.72 acre tract out of the Morgan Rector League, Abstract 46, Brazos County, Texas, and being out of Lot 1, Block 1, Entergy Switch Station, a plat recorded in Volume 9687, Page 106 of the Official Public Records of Brazos County, Texas, said 15.72 acres being more particularly described by metes and bounds as follows: COMMENCING at a 1/2" iron rod found in the southeasterly line of a called 77.62 acre tract conveyed to Richard Smith as recorded in Volume 328, Page 75 of the Deed Records of Brazos County, Texas for the north corner of a called 9.74 acre tract conveyed to the City of College Station as recorded in Volume 368, Page 336 of the Deed Records of Brazos County, Texas and a 60' wide ingress and egress easement recorded in Volume 6724, Page 52, Volume 8488, Page 248 and Volume 8875, Page 191 of the Official Public Records of Brazos County, Texas and being the west corner of a 40' wide Greenway dedication (0.8947 acre) and said Lot 1; THENCE North 42" 20' 28" East along the said southeasterly line of the 77.62 acre tract and the northwesterly line of the said 40' wide Greenway dedication and said Lot 1 a distance of 40.39 feet to a point for the north corner of the said 40' wide Greenway dedication and the west corner of the said 15.72 acre tract and the POINT OF BEGINNING; THENCE North 42" 20' 28" East continuing along the said southeasterly line of the 77.62 acre tract and the said northwesterly line of said Lot 1 and the said 15.72 acre tract, at a distance of 687.91 feet pass a 1/2" iron rod found for reference, and continuing a total distance of 770.29 feet to a point in the southwesterly bank of Carter's Creek for the north corner of said Lot 1 and the said 15.72 acre tract; THENCE along the said southwesterly bank of Carter's Creek and the northeasterly line of said Lot 1 and the said 15.72 acre tract with the following bearings and distances: South 50" 28' 12" East 47.64 feet South 40" 56' 20" East 25.67 feet South 36" 01' 57" East 20.22 feet South 67" 36' 11" East 24.08 feet South 35" 51'29" East 27.66 feet South 47" 09'23" East 24.50 feet South 28° 42'22" East 35.27 feet South 40" 00' 37 East 23.29 feet South 30" 13' 00" East 30.00 feet South 29" 46' 48" East 20.14 feet South 63" 49' 05" East 19.19 feet South 35" 47' 21" East 28.10 feet South 27" 04' 57" East 23.63 feet South 19" 52' 27" East 43.57 feet South 24" 05 East 15.21 feet South 21" 44'24" East 20.48 feet South 32" 14' 44" East 25.01 feet South 50" 41' 28" East 20.68 feet North 19" 42' 12" East 33.43 feet North 10" 38' 08" East 20.44 feet North 55" 27' 45" East 13.75 feet That certain 2.792 acre tract for a 60' wide access easement out of the Morgan Rector League, Abstract 46, Brazos County, Texas, and being reserved in a called 9.74 acre tract conveyed to the City of College Station as recorded in Volume 368, Page 336 of the Deed Records of Brazos County, Texas, said 2.792 acres being more particularly described by metes and bounds as follows: BEGINNING at a 1/2" iron rod found in the southeasterly line of a called 77.62 acre tract conveyed to Richard Smith as recorded in Volume 328, Page 75 of the Deed Records of Brazos County, Texas for west corner of Lot 1, Block 1, Entergy Switch Station, a plat recorded in Volume 9687, Page 106 of the Official Public Records of Brazos County, Texas and a 40' wide Greenway dedication in said Lot I being the north corner of and the said 9.74 and 2.792 acre tracts; THENCE South 39° 40' 28" East along a southwesterly line of said Lot 1 and the said 40' wide Greenway dedication and the northeasterly line of the said 9.74 and 2.792 acre tracts a distance of 60.62 feet to a point for the east corner of the said 2.792 acre tract from which a 1/2" iron rod found for the east corner of the said 9.74 acre tract and an angle point of said Lot 1 and the 40' wide Greenway dedication bears South 39° 40' 28" East 533.98 feet; THENCE South 42° 17' 14" West along a southeasterly line of the said 2.792 acre tract a distance of 610.10 feet (called South 42° 17' 14" West 610.10 feet) to a point for an interior corner of the said 9.74 acre tract and an angle point of the said 2.792 acre tract; THENCE South 42 10' 34" West along a southeasterly line of the said 9.74 and 2.792 acre tracts a distance of 1420.83 feet to a point in the northeasterly right of way line of State Highway 6 for the South corner of the said 9.74 and 2.792 acre tracts; "THENCE North 32° 02' 35" West along the said northeasterly right of way line of State Highway 6 and the southwesterly line of the said 9.74 and 2.792 acre tracts a distance of 62.36 feet to a point for the west corner of the said 9.74 and 2.792 acre tracts; THENCE North 42" 10'34" East along the northwesterly line of the said 9.74 and 2.792 acre tracts a distance of 1417.77 feet to a 1/2" iron rod found for an angle point; THENCE, North 42° 17' 14" East continuing along the said northwesterly line of the 9.74 and 2.792 acre tracts a distance of 604.79 feet to the POINT OF BEGINNING and containing 2.792 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. SCHEDULE B GF No. 00100498 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: The following restrictive covenants of record itemized below (We must either insert specific recording data or delete this exception): Tract One: Volume 9687, Page 106, Official Records, Brazos County, Texas, but deleting any covenants, conditions or restrictions indicating a preference, limitation or discrimination based on race, color, religion, sex, handicap, familial status, or national origin unless and only to the extent that said covenant (a) is exempt under Chapter 42, Section 3607 of the United States Code or (b) relates to handicap but does not discriminate against handicapped persons. 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.) ilniversity Title Company Alliant National Title 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. 00100498 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 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. "Intentionally Deleted" d. "Intentionally Deleted" e. "Intentionally Deleted" f. Rights of others to use and benefit of 60' access easement described herein as Tract Two. g. Changes in area or boundary lines by reason of erosion, avulsion or accretion caused by Carter's Creek, which forms a boundary of the tract insured herein. (Tract One) h. Blanket Electrical Easement: From: Lydia Boriskie To: City of Bryan Dated: May 15, 1972 Recorded: Volume 304, Page 237, Deed Records, Brazos County, Texas. (Tracts One & Two) i. Blanket Electrical Easement: From: V. J. Boriskie, et ux To: City of Bryan Dated: April 30,1937 Recorded: Volume 98, Page 217, Deed Records, Brazos County, Texas. (Tracts One & Two) j. Blanket Electrical Easement: From: Joe M. Boriskie, et ux To: City of Bryan Dated: April 15,1937 Recorded: Volume 98, Page 216, Deed Records, Brazos County, Texas. (Tracts One & Two) k. Sewer Easement: From: Lydia F. Boriskie To: City of College Station Dated: September 21, 1978 Recorded: Volume 407, Page 800, Deed Records, Brazos County, Texas. 1. "Intentionally Deleted" SCHEDULE B - continued GF No. 00100498 m. Electric Easement: From: V. J. Boriskie and wife, Julia S. Boriskie To: Gulf States Utilities Company Dated: May 15, 1947 Recorded: Volume 130, Page 237, Deed Records, Brazos County, Texas. (Tract One) n. Electric Easement: From: Lydia Frances Boriskie, Executrix of the Estate of V. J. Boriskie, Deceased To: City of Bryan Dated: July 11, 1972 Recorded: Volume 307, Page 310, Deed Records, Brazos County, Texas. (Tract One) o. Electrical Easement: From: Lydia F. Boriskie To: Gulf States Utilities Company Dated: July 24, 1980 Recorded: Volume 456, Page 380, Deed Records, Brazos County, Texas. (Tract One) p. Pipeline Easements: From: V. J. Boriskie and J. M. Boriskie To: Humble Pipe Line Company Dated: July 21, 1919 Recorded: Volume 49, Page 18 and Volume 49, Page 33, Deed Records, Brazos County, Texas. Amended: Recorded: Volume 513, Page 156, Deed Records, Brazos County, Texas and Volume 854, Page 599, Official Records, Brazos County, Texas. (Tracts One & Two) q. Easement: From: Lydia F. Boriskie To: City of College Station Dated: February 23, 1 , 982 Recorded: Volume 510, Page 629, Deed Records, Brazos County, Texas. (Tract One) r. Perpetual Easement: From: Lydia F. Boriskie To: City of College Station Dated: November 14, 1988 Recorded: Volume 1085, Page 89, Official Records, Brazos County, Texas. (Tract One) s. Public Utility Easement: From: Charles B. Jones, et ux To: City of College Station Dated: March 24, 2006 Recorded: Volume 7239, Page 232, Official Records, Brazos County, Texas. (Tract One) SCHEDULE B - continued GF No. 00100498 t. Mineral Reservation in Deed: By: Virginia B. Hermann To: Burton Ray Hermann Dated: December 13,1993 Recorded: Volume 1988, Page 45, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. (Tract One) u. Mineral Reservation in Deed: By: Michael W. Thiltgen, et ux To: Burton B. Hermann, et ux Dated: April 6, 1994 Recorded: Volume 2085, Page 289, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. (Tract One) v. Royalty Reservation in Deed: By: Burton Ray Hermann, et ux To: C. B. Jones Dated: March 15,1996 Recorded: Volume 25.57, Page 109, Official Records of Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. (Tract One) w. Royalty Reservation in Deed: By: Lydia Boriskie To: Michael W. Thiltgen Dated: February 10, 1982 Recorded: Volume 510, Page 482, Deed Records of Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. (Tract One) x. Royalty Reservation in Deed: By: Lydia Boriskie To: Virginia J. Hermann Dated: February 10, 1982 Recorded: Volume 510, Page 493, Deed Records of Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. (Tract One) y. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: City of College Station Lessee: Inco Oil Corporation Dated: May 3, 1993 Recorded: Volume 1851, Page 86, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. (Tract Two) z. 0.8272 Access Easement Reserved in Deed as shown on Southwest Portion: From: Marshall B. Jones, et al To: Entergy Texas, Inc. Dated: SCHEDULE B - continued GF No. 00100498 Recorded: Volume , Page Records, Brazos County, Texas and as shown on plat recorded in Volume 9687, Page 106, Official Records, Brazos County, Texas. aa. 50' Easement on Plat of Entergy Switch Station containing].] 30 acres: To: City of College Station Dated: June 15, 2010 Recorded: Volume 9687, Page 106, Official Records, Brazos County, Texas. SCHEDULE C GF No. 00100498 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 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 Alliant National Title Texas Commitment T -7 (Rev. 1 -1 -93) - Schedule C Valid Only if Schedule A, B, D and Cover are attached SCHEDULE C - continued GF No. 00100498 11. ARBITRATION: The Owner Policy of Title Insurance (Form T -l) 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: Vesting Deed to owners shown herein was dated November 5, 2008 and recorded in Volume 8875, Page 191, Official Records, Brazos County, Texas. 14. Furnish the marital status of Bryan D. Jones, Charles Eric Jones and Marshall B. Jones. Company requires the joinder of spouse(s) in any transaction involving subject property. 15. File for record the proposed plat for Entergy Switch Station Subdivision. 16. Plat states that 0.8947 acres of Lot 1, Block 1, is dedicated to the City of College Station in fee simple. If so, the insured legal description will Save & Except this tract from purchaser's policy. University Title Company int Authorized Countersignature (J NI Plydf) SCHEDULE D GF No. 00100498 Pursuant to the requirements of Rule P- 21,-Basic Manual of Rules, Rates and Forms for the writing of Title Insurance in the State of Texas, the following disclosures are made: 1. The following individuals are directors and/or officers, as indicated, of Alliant National Title Insurance Company * W. Allen Shindler, Chairman of the Board * David D. Ginger, President * Robert J. Grubb, Chief Executive Officer William Brendemuhl, General Counsel & Secretary Robert Scott Hendrickson, Chief Financial Officer Phyllis J. Mulder, Texas General Counsel Raymond J. BonAnno Richard W. Stone John R. Baumgart * Indicates Director Agent Investors Group of America, LLC, owns 100% of the stock of Alliant National Title Insurance Company, Inc. and Mt. Audubon Associates and John R. Baumgart owns ten percent or more of Agents Investors Group of America, LLC. 2. The following disclosures are made by UNIVERSITY TITLE COMPANY issuing this commitment: a. The listing 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. If the Agent is a corporation: (i) the name of each director of the Title Insurance Agent, and (ii) the names of the President, the Executive or Senior Vice President, the Secretary and the Treasurer of the Title Insurance Agent are as follows: 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 $ 1.447.00 Mortgage Policy $ Endorsement Charges $ Total $ 1,447.00 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 State Board of Insurance. Exhibit A Tract One: Fee Simple That certain 15.72 acre tract out of the Morgan Rector League, Abstract 46, Brazos County, Texas, and being out of Lot 1, Block 1, Entergy Switch Station, a plat recorded in Volume 9687, Page 106 of the Official Public Records of Brazos County, Texas, said 15.72 acres being more particularly described by metes and bounds as follows: COMMENCING at a 1/2" iron rod found in the southeasterly line of a called 77.62 acre tract conveyed to Richard Smith as recorded in Volume 328, Page 75 of the Deed Records of Brazos County, Texas for the north corner of a called 9.74 acre tract conveyed to the City of College Station as recorded in Volume 368, Page 336 of the Deed Records of Brazos County, Texas and a 60' wide ingress and egress easement recorded in Volume 6724, Page 52, Volume 8488, Page 248 and Volume 8875, Page 191 of the Official Public Records of Brazos County, Texas and being the west corner of a 40' wide Greenway dedication (0.8947 acre) and said Lot l; THENCE North 42" 20' 28" East along the said southeasterly line of the 77.62 acre tract and the northwesterly line of the said 40' wide Greenway dedication and said Lot 1 a distance of 40.39 feet to a point for the north corner of the said 40' wide Greenway dedication and the west corner of the said 15.72 acre tract and the POINT OF BEGINNING; THENCE North 42" 20' 28" East continuing along the said southeasterly line of the 77.62 acre tract and the said northwesterly line of said Lot 1 and the said 15.72 acre tract, at a distance of 687.91 feet pass a 1/2" iron rod found for reference, and continuing a total distance of 770.29 feet to a point in the southwesterly bank of Carter's Creek for the north corner of said Lot 1 and the said 15.72 acre tract; THENCE along the said southwesterly bank of Carter's Creek and the northeasterly line of said Lot 1 and the said 15.72 acre tract with the following bearings and distances: South 50" 28' 12" East 47.64 feet South 40" 56' 20" East 25.67 feet South 36" 01' 57" East 20.22 feet South 67" 36' 11" East 24.08 feet South 35" 51'29" East 27.66 feet South 47" 09' 23" East 24.50 feet South 28" 42' 22" East 35.27 feet South 40" 00'37" East 23.29 feet South 30" 13' 00" East 30.00 feet South 29" 46' 48" East 20.14 feet South 63" 49' 05" Fast 19.19 feet South 35" 47' 21" East 28.10 feet South 27" 04' 57" East 23.63 feet South 19" 52' 27" East 43.57 feet South 24" 05'22" East 15.21 feet South 21" 44' 24" East 20.48 feet South 32" 14' 44" East 25.01 feet South 50" 41' 28" East 20.68 feet North 19" 42' 12" East 33.43 feet North 10 38' 08" East 20.44 feet North 55" 27' 45" East 13.75 feet North 89" 54' 58" East 12.37 feet South 61" 24' 17" East 6.16 feet South 08" 04' 43" East 2.70 feet South 35" 47' 55" West 9.14 feet South 01' 41' 43" East 9.54 feet South 52" 29' 53" East 12.59 feet South 30° 44' 29" East 25.39 feet South 39" 33' 07" East 82.30 feet South 56° 43' 22" East 100.44 feet South 48" 53' 47" East 52.39 feet South 39" 12' 50" East 69.20 feet South 28° 24' 12" East 54.55 feet South 07" 26' 05" East 30.20 feet South 15" 51' 11" East 20.93 feet South 45" 16' 47" East 14.12 feet North 72° 15' 46" East 6.87 feet North 07" 29' 34" East 1499 feet North 22" 15' 37" West 26.00 feet North 16" 28' 25" East 13.32 feet North 59" 34' 34" East 10.95 feet South 66" 06' 55" East 12.69 feet South 39" 38' 25" East 26.30 feet South 43" 46' 50" East 31.65 feet South 45" 18' 04" East 22.56 feet to a point in the southerly line of a 150' wide easement granted to Gulf States Utilities as recorded in Volume 456, Page 380 of the Deed Records of Brazos County, Texas for the cast corner of said Lot 1 and the said 15.72 acre tract; THENCE South 82" 41' 05" !Vest along the said southerly line of the GS1 150' wide easement and an interior line of said Lot 1 and the said 15.72 acre tract a distance of 570.15 feet to a point for an interior corner of said Lot 1 and the said 15.72 acre tract; THENCE South 00" 19' 42" East along an interior line of said Lot 1 and the said 15.72 acre tract a distance of 0.55 feet to a 5/8" iron rod found for an interior corner of said Lot 1 and the said 15.72 acre tract; THENCE. South 44 36' 27" Fast continuing along an interior line of said Lot I and the said 15.72 acre tract a distance of 391.16 feet to a 1/2 " capped iron rod set for the north corner of a called 23.75 acre tract conveyed to C. Carl Kolbe as recorded in Volume 2558, Page 126, Volume 2313, Page 335 and Volume 3213, Page 339 of the Official Public Records of Brazos County, Texas and an exterior corner of said Lot 1 and the said 15.72 acre tract: THENCE South 45" 21' 34" West along the northwesterly line of the said 23.74 acre tract and the southeasterly line of said Lot 1 and the said 15.72 acre tract a distance of 339.94 feet to a point for the south corner of the said 15.72 acre tract from which a _5/8" iron rod found in the northeasterly line of Horse Haven Estates, Phase Three, a plat recorded in Volume 7901, Page 165 of the Official Public Records of Brazos County, Texas for a west corner of the said 23.75 acre tract and the south corner of said Lot l bears South 45° 21' 32" West 40.21 feet; THENCE North 50" 29' 50" West along the southwesterly line of the said 14.72 acre tract a distance of 379.01 feet to an angle point; THENCE North 39" 40' 28" West continuing along the said southwesterly line of the 15.72 acre tract a distance of 596.42 feet to the POINT OF BEGINNING and containing 15.72 acres of land, more or less. Tract Two: Easement (Switch Station Road) That certain 2.792 acre tract for a 60' wide access easement out of the Morgan Rector League, Abstract 46, Brazos County, Texas, and being reserved in a called 9.74 acre tract conveyed to the City of College Station as recorded in Volume 368, Page 336 of the Deed Records of Brazos County, Texas, said 2.792 acres being more particularly described by metes and bounds as follows: BEGINNING at a 1/2" iron rod found in the southeasterly line of a called 77.62 acre tract conveyed to Richard Smith as recorded in Volume 328, Page 75 of the Deed Records of Brazos County, Texas for west corner of Lot 1, Block 1, Entergy Switch Station, a plat recorded in Volume 9687, Page 106 of the Official Public Records of Brazos County, Texas and a 40' wide Greenway dedication in said Lot I being the north corner of and the said 9.74 and 2.792 acre tracts; THENCE South 39" 40' 28" East along a southwesterly line of said Lot 1 and the said 40' wide Greenway dedication and the northeasterly line of the said 9.74 and 2.792 acre tracts a distance of 60.62 feet to a point for the east corner of the said 2.792 acre tract from which a 1 /2" iron rod found for the east corner of the said 9.74 acre tract and an angle point of said Lot 1 and the 40' wide Greenway dedication bears South 39" 40' 28" East 533.98 feet; THENCE South 42" 17' 14" West along a southeasterly line of the said 2.792 acre tract a distance of 610.10 feet (called South 42" 17' 14" West 610.10 feet) to a point for an interior corner of the said 9.74 acre tract and an angle point of the said 2.792 acre tract; THENCE South 42" 10' 34" West along a southeasterly line of the said 9.74 and 2.792 acre tracts a distance of 1420.83 feet to a point in the northeasterly right of way line of State highway 6 for the South corner of the said 9.74 and 2.792 acre tracts; THENCE North 32" 02' 35" West along the said northeasterly right of way line of State Highway 6 and the southwesterly line of the said 9.74 and 2.792 acre tracts a distance of 62.36 feet to a point for the west corner of the said 9.74 and 2.792 acre tracts; THENCE North 42" 10'34" East along the northwesterly line of the said 9.74 and 2.792 acre tracts a distance of 1417.77 feet to a 1/2" iron rod found for an angle point; THENCE North 42" 17' 14" Fast continuing along the said northwesterly line of the 9.74 and 2.792 acre tracts a distance of 604.79 feet to the POINT OF BEGINNING and containing 2.792 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.