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• INSURANCE CORORATION
Policy No.: TX0353- 82- S32152- 2010.8239843 - 81011155
OWNER'S POLICY OF TITLE INSURANCE (T -1)
Issued by
LAWYERS TITLE INSURANCE CORPORATION
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Any notice of claim and any other notice or statementin writing required to be given the Company tinder this Policy must be given
to the Company at the address shown in Section 18 of the Conditions.
COVERED RISKS
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND
THE CONDITIONS, LAWYERS TITLE INSURANCE CORPORATION, a Nebraska. corporation (the "Company") insures, as of Date
of Policy and, to the extent stated in Covered Risks 9 and 10, after Date of Policy, against loss or damage, not exceeding the Amount of
Insurance, sustained or incurred by the Insured by reason of:
I. Title being vested other than as stated in Schedule A.
2. Any defect in or lien or encumbrance on the Title. This Covered Risk includes but is not limited to insurance against loss front:
(a) A defect in the Title caused by: °
(i) forgery, fraud, undue influence, duress, incompetency, incapacity or impersonation;
(ii) failure of any person or Entity to have authorized a transfer or conveyance;
(iii) a document affecting Title not properly created, executed, witnessed, sealed, acicnowledged, notarized or delivered;
(iv) failure to perform those acts necessary to create a document by electronic means authorized by law;
(v) a document executed under a falsified, expired or otherwise invalid power of attorney;
(vi) a document not properly filed, recorded or indexed in the Public Records including failure to perform those acts by
electronic means authorized by law; or
(vii)a defective judicial or administrative proceeding.
(b) The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable, but unpaid.
(c) Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an
accurate and complete land survey of the Land. The term "encroachment" includes encroachments of existing improvements
located on the Land onto adjoining land, and encroaclunents onto the Land of existing improvements located on adjoining land.
(d) Any statutory or constitutional mechanic's, contractor's, or materialman's lien for labor or materials having its inception on or
before Date of Policy. •
3. Lack of good and indefeasible Title.
4. No right of access to and from the Land.
5. The violation or enforcement of any law, ordinance, permit, or governmental regulation (including those relating to building and zoning)
restricting, regulating, prohibiting or relating to:
(a) the occupancy, use or enjoyment of the Land;
(b) the character, dimensions or location of any improvement erected on the Land;
(c) subdivision of land; or
(d) environmental protection
if a notice, describing any part of the Land, is recorded in the Public Records setting forth the violation or intention to enforce, but
only to the extent of the violation or enforcement referred to in that notice.
6. An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the
enforcement action, describing any part of the Land, is recorded in the Public Records, but only to the extent of the enforcement
referred to in that notice.
7. The exercise of the .rights of eminent domain if a notice of the exercise, describing any part of the Land, is recorded in the Public
Records.
8. Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge.
9. Title being vested other than as stated in Schedule A or being defective:
(a) as a result of the avoidance in whole or in part, or from a court order providing an alternative remedy, of a transfer of all or any
part of the title to or any. interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because
that prior transfer constituted a fraudulent or preferential transfer under federal bankruptcy, state insolvency or similar creditors'
rights laws; or
(b) because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal bankruptcy,
8239843 (2/10) Owner's Policy of Title insurance T -1 (2/01/10)
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state insolvency or similar creditors' rights laws by reason of the failure of its recording in the Public Records:
(i) to be timely, or
(ii) to impart notice of its existence to a purchaser for value or a judgment or lien creditor.
10. Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or
attached or has been filed or recorded in the Public Records subsequent to Date of Policy and prior to the recording of the deed or
other instrument of transfer in the Public Records that vests Title as shown in Schedule A.
The Company will also pay the costs, attorneys' fees and expenses incurred in defense of any matter insured against by this Policy, but
only to the extent provided in the Conditions.
LAWYERS TITLE INSURANCE CORPORATION
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Authorized Signatory + ` ' •.. °.. NrIEST
JoAnn Olexey f1 = ..•� ` �
TX0353 S32152
Lawyers Title Company Of Brazos County
1450 Copperfield Pkway
College Station , TX 77845
Tel:(979) 776 -3600
Fax:(979) 776 -3700
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8239843 (2/10) Owner's Policy of Title Insurance T -1 (2/01/10)
OWNER'''POLICY OF TITLE INSURANCE
Issued by
Lawyers Title Insurance Corporation
SCHEDULE A
Name and Address of Title Insurance Company:
LAWYERS TITLE INSURANCE CORPORATION
P. O. Box 45023, Jacksonville, Florida 32232 -5023
File No.: S32152 Policy No.: 8239843 - 81011155
Issued with Policy No. 8239943 - 81011202
Address for Reference only: 3330 Greens Prairie Road West, College Station, TX 77845
Amount of Insurance: $5,327,272.00 Premium: $24,394.00
Date of Policy: June 2, 2010, at 12:36 pm •
1. Name of Insured: Dos Dorado Development, LLC, a Texas limited liability company d /b /a 3 -D Development
2. The estate or interest in the Land that is insured by this policy is: Fee Simple
3. Title is insured as vested in: Dos Dorado Development, LLC, a Texas Limited liability company d /b /a 3 -D Development
4. The Land referred to in this policy is described as follows:
ALL THAT CERTAIN TRACT OR PARCEL OF LAND LYING AND BEING SITUATED IN THE ROBERT
STEVENSON LEAGUE, ABSTRACT NO. 54, COLLEGE STATION, BRAZOS COUNTY, TEXAS. SAID TRACT
BEING THE REMAINDER OF A CALLED 303.97 ACRE TRACT AS DESCRIBED IN A PARTITION DEED TO
DIEBEL FAMILY PARTNERS, LTD. RECORDED IN VOLUME 4027, PAGE 29 OF THE OFFICIAL PUBLIC
RECORDS OF BRAZOS COUNTY, TEXAS.
SAID TRACT BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING AT A % INCH IRON ROD FOUND ON THE SOUTHWEST LINE OF A CALLED 75.07 ACRE
TRACT AS DESCRIBED BY A DEED TO BCS DEVELOPMENT CO. RECORDED IN VOLUME 6985, PAGE 42
OF THE OFFICIAL PUBLIC RECORDS OF BRAZOS COUNTY, TEXAS, MARKING THE NORTH CORNER
OF SAID REMAINDER OF 303.97 ACRE TRACT AND THE EAST CORNER OF A CALLED 29.405 ACRE
TRACT AS DESCRIBED BY A DEED TO THE AGNES C. BAKER REVOCABLE LIVING TRUST RECORDED
IN VOLUME 2488, PAGE 64 OF THE OFFICIAL PUBLIC RECORDS OF BRAZOS COUNTY, TEXAS;
THENCE: S 48° 03' 31" E ALONG THE COMMON LINE OF SAID REMAINDER OF 303.97 ACRE TRACT AND
SAID 75.07 ACRE TRACT, AT 642.02 FEET PASS A '/z INCH IRON ROD `FOUND MARKING THE WEST
CORNER OF CASTLEGATE SUBDIVISION, SECTION 9, ACCORDING TO THE PLAT RECORDED IN
VOLUME 4820, PAGE 94 OF THE OFFICIAL PUBLIC RECORDS OF BRAZOS COUNTY, TEXAS, CONTINUE
ON ALONG THE COMMON LINE OF SAID REMAINDER OF 303.97 ACRE TRACT AND CASTLEGATE
SUBDIVISION, SECTION 9, CASTLEGATE SUBDIVISION, SECTION 7, PHASE 1, ACCORDING TO THE
PLAT RECORDED IN VOLUME 7812, PAGE 265 OF THE OFFICIAL PUBLIC RECORDS OF BRAZOS
COUNTY, TEXAS, CASTLEGATE SUBDIVISION, SECTION 7, PHASE 2, ACCORDING TO THE PLAT
RECORDED IN VOLUME 8369, PAGE 131 OF THE OFFICIAL PUBLIC RECORDS OF BRAZOS COUNTY,
TEXAS, AND CASTLEGATE SUBDIVISION, SECTION 6, ACCORDING TO THE PLAT RECORDED IN
VOLUME 7213, PAGE 40 OF THE OFFICIAL PUBLIC RECORDS OF BRAZOS COUNTY, TEXAS, AT 4152.50
FEET PASS A INCH IRON ROD FOUND ON THE NORTHEAST LINE OF SAID REMAINDER OF 303.97
ACRE TRACT, CONTINUE ON FOR A TOTAL DISTANCE OF 4166.54 FEET TO A POINT WITHIN THE
PAVED RIGHT -OF -WAY OF GREENS PRAIRIE ROAD (VARIABLE WIDTH R.O.W.) MARKING THE EAST
CORNER OF THIS HEREIN DESCRIBED TRACT;
THENCE: S 41° 55' 52" W THROUGH THE APPARENT RIGHT -OF -WAY OF GREENS PRAIRIE ROAD AND
ALONG THE SOUTHEAST LINE OF SAID REMAINDER OF 303.97 ACRE TRACT FOR A DISTANCE OF
2090.81 FEET TO THE SOUTH CORNER OF THIS HEREIN DESCRIBED TRACT;
THENCE: N 48° 21' 09" W CONTINUING THROUGH THE APPARENT RIGHT -OF -WAY OF GREENS
PRAIRIE ROAD, AT 39.39 FEET A ''A I NCH IRON ROD FOUND NEAR THE EAST CORNER OF
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FORM T -1: Owner's Policy of Title Insurance Page 1
Continuation of Schedule A Policy No. 8239843 - 81011155
SWEETWATER FOREST, PHASE ONE, ACCORDING TO THE PLAT RECORDED IN VOLUME 4267, PAGE
254 OF THE OFFICIAL PUBLIC RECORDS OF BRAZOS COUNTY, TEXAS, BEARS: N 28° 55' 32" E FOR A
DISTANCE OF 0.13 FEET, CONTINUE ALONG THE COMMON LINE OF SAID REMAINDER OF 303.97 ACRE
TRACT AND SWEETWATER FOREST, PHASE ONE, FOR A TOTAL DISTANCE OF 158.04 FEET TO A
POINT;
THENCE: ALONG THE COMMON LINE OF SAID REMAINDER OF 303.97 ACRE TRACT AND
SWEETWATER FOREST, PHASE ONE, FOR THE FOLLOWING CALLS:
N 56° 19' 49" E FOR A DISTANCE OF 85.94 FEET;
N 24° 48' 53" W FOR A DISTANCE OF 49.81 FEET;
N 67° 01' 46" W FOR A DISTANCE OF 65.96 FEET;
S 50° 32' 25" W FOR A DISTANCE OF 60.05 FEET;
N 52° 33' 01" W FOR A DISTANCE OF 90.43 FEET;
N 31° 31' 00" E FOR DISTANCE OF 78.55 FEET;
N 52° 41' 45" E FOR A DISTANCE OF 53.92 FEET;
N 04° 33' 48" W FOR A DISTANCE OF 27.74 FEET;
N 64° 22' 35" W FOR A DISTANCE OF 58.62 FEET;
S 64° 50' 10" W FOR A DISTANCE OF 89.41 FEET;
N 59° 39' 33" W FOR A DISTANCE OF 92.34 FEET;
S 72° 09' 01" W FOR A DISTANCE OF 54.75 FEET;
N 56° 06' 26" W FOR A DISTANCE OF 85.10 FEET;
S 33° 33' 04" W FOR A DISTANCE OF 54.03 FEET;
N 88° 06' 49" W FOR A DISTANCE OF 84.93 FEET;
N 58° 52' 50" W FOR A DISTANCE OF 135.41 FEET;
S 66° 38' 21" W FOR A DISTANCE OF 76.07 FEET;
N 34° 47' 57" W FORA DISTANCE OF 50.12 FEET;
N 23° 42' 35" E FOR A DISTANCE OF 24.18 FEET;
N 81° 57' 29" W FOR A DISTANCE OF-125.57 FEET;
S 10° 37' 48" E FOR A DISTANCE OF 41.67 FEET;
S 80° 46' 49" W FOR A DISTANCE OF 36.76 FEET;
N 41° 06' 28" W FOR A DISTANCE OF 41.21 FEET;
N 00° 33' 10" E FOR A DISTANCE OF 33.24 FEET TO THE SOUTH CORNER OF THE REMAINDER
OF A CALLED 101.322 ACRE TRACT AS DESCRIBED BY SAID PARTITION DEED TO ESTHER
JANE GRANT McDOUGAL.(4027 /29);
FORM T -1: Owner's Policy of Title Insurance Page 2
Continuation of Schedule A Policy No. 8239843 - 81011155
. THENCE: N 13° 02' 31" E ALONG THE COMMON LINE OF SAID REMAINDER OF 303.97 ACRE TRACT
AND SAID REMAINDER OF 101.322 ACRE TRACT, AT 69.86 FEET PASS A % INCH IRON ROD FOUND,
CONTINUE ON FOR A TOTAL DISTANCE OF 296.67 FEET TO A' /: INCH IRON ROD FOUND;
THENCE: N 48° 03' 24" W CONTINUING ALONG THE COMMON LINE OF SAID REMAINDER OF 303.97
ACRE TRACT AND SAID REMAINDER OF 101.322 ACRE TRACT FOR A DISTANCE OF 2926.83 FEET TO A
'/ INCH IRON ROD FOUND ON THE SOUTHEAST LINE OF A CALLED 18.80 ACRE TRACT DESCRIBED AS
TRACT 7 BY A PARTITION DEED TO CHESTER BROWN RECORDED IN VOLUME 3413, PAGE 228 OF THE
OFFICIAL'PUBLIC RECORDS OF BRAZOS COUNTY, TEXAS;
THENCE: N 41 56' 44" E ALONG THE COMMON LINE OF SAID REMAINDER OF 303.97 ACRE TRACT AND
SAID 18.80 ACRE TRACT AND THE AFOREMENTIONED 29.405 ACRE TRACT (2488/64) FOR A DISTANCE
OF 2106.35 FEET TO THE POINT OF BEGINNING. CONTAINING 202.655 ACRES OF LAND, MORE OF 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 are or quantity is
correct, but is made only for informational and /or identification purposes and does not override Item 2 of Schedule B
hereof.
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FORM T -1: Owner's Policy of Title Insurance Page 3
OWNERS POLICY OF TITLE INSURANCE
Issued by
Lawyers Title Insurance Corporation
SCHEDULE B
File No.: S32152 Policy No.: 8239843- 81011155
EXCEPTIONS FROM COVERAGE
This policy does not insure against loss or damage (and -the Company will not pay costs, attorneys' fees or expenses) that arise by
reason of the terms and conditions of leases and easements, if any, shown in Schedule A, and the following matters:
1. The f Bowing restrictive covenants of record itemized below (the Company must tither insert specific recording data or
delete this exception):
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.
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 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 right of access to that area or
easement along and across that area.
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.
6. The following matters and all terms of the documents creating or offering evidence of the matters (The Company must insert
matters or delete this exception.):
a. Vendor's lien retained in Deed executed by Diebel Family Partners, Ltd., a Texas limited partnership to Dos
Dorado Development, LLC, a Texas limited liability company d /b /a 3 -D Development, dated June 1, 2010,
recorded in Volume 9656, Page 213, corrected and re- recorded on July 20, 2010, in Volume 9735, Page 105,
Official Records of Brazos County, Texas, securing the payment of one note of even date therewith in the
principal sum of $5,327,272.00, payable to Diebel Family Partners, Ltd., a Texas limited partnership, and
additionally secured by a Deed of Trust of even date therewith executed by Dos Dorado Development, LLC, a
Texas limited liability company d/b /a 3 -D Development to J. Davis Watson, Trustee, said Deed of Trust filed
on June 2, 2010, in Volume 9656, Page 220, Official Records of Brazos County, Texas.
b. Survey dated February 19, 2010, revised February 22, 2010, April 6, 2010, and again on May 5, 2010
prepared by Brad Kerr, R.P.L.S. No. 4502 shows the following matters, the existence of which are not insured
against loss by this policy:
1. A portion of the subject tract along the southeasterly property line protrudes into the Greens Prairie
Road Right -of -Way.
FORM T -1: Owner's Policy of Title Insurance Page 4
Continuation of Schedule B Policy No. 8239843 - 81011155
2. Cattle guard along the southeasterly tract line with gravel roadway. Roadway encroaches across
telephone and pipeline easements.
3. Fencing and concrete pads near the easterly corner of the subject tract.
4. 75' platted Public road right -of -ways bisecting the subject tract in a southeasterly and also a
southwesterly direction.
c. Called 14.52 Acres "AO" Zoning area per City Ordinance No. 3012, as shown on survey dated February 19,
2010, revised February 22, 2010, April 6, 2010, and again on May 5, 2010 prepared by Brad Kerr, R.P.L.S.
No. 4502
d. Rights or claims, if any, of adjoining property owners in and to that portion of the insured premises lying
between the fence and the southeasterly tract line and between the fence and the northwesterly tract line, as
shown on survey by Brad Kerr, R.P.L.S. No. 4502, dated February 19, 2010, revised February 22, 2010, April
6, 2010, and again on May 5, 2010.
e. Easement executed by W.I. McCulloch to The City of Bryan, Texas, dated May 12, 1937, recorded in Volume
98, Page 179, Deed Records of Brazos County, Texas, as noted on survey by Brad Kerr, R.P.L.S. No. 4502,
dated February 19, 2010, revised February 22, 2010, April 6, 2010, and again on May 5, 2010. (BLANKET)
f. Easement executed by Mrs. Mit Dansby and Mit Dansby, her husband to Sinclair Refining Company, dated
March 10, 1947, recorded in Volume 132, Page 29, Deed Records; Assignment executed by ARCO Pipe Line
Company (successor to Sinclair), to CITGO Products Pipeline Company, dated September 30, 1994, recorded
in Volume 2217, Page 231, Official Records; Assignment executed by CITGO Products Pipeline Company to
Explorer Pipeline Company, October 31, 2007, and also subsequent document executed on June 23, 2009,
recorded in Volume 8326, Page 91, and in Volume 9192, Page 101 respectively; amended in instrument dated
April 2, 2010, recorded in Volume 9565, Page 135, all being of Brazos County, Texas, as shown and noted on
survey by Brad Kerr, R.P.L.S. No. 4502, dated February 19, 2010, revised February 22, 2010, April 6, 2010,
and again on May 5, 2010.
g. Easement executed by Esther Dansby and Mit Dansby to Seminole Pipeline Company, dated December 14,
1981, recorded in Volume 505, Page 776, Deed Records of Brazos County, Texas, as shown on survey by Brad
Kerr, R.P.L.S. No. 4502, dated February 19, 2010, revised February 22, 2010, April 6, 2010, and again on
May 5, 2010.
h. Easement executed by Esther M. Dansby Producer's Gas Company, dated September 24, 1981, recorded in
Volume 534, Page 86, Deed Records;"Assignment instrument recorded in Volume 1076, Page 304, Official
Records; Assignment instrument recorded in Volume 1135, Page 473; amended in instrument recorded in
Volume 9592, Page 240, Official Records, all being of Brazos County, Texas, as shown and noted on survey by
Brad Kerr, R.P.L.S. No. 4502, dated February 19, 2010, revised February 22, 2010 and again on April 6,
2010.
i. Easement executed by Mrs. Esther M. Dansby to Producer's Gas Company, recorded January 14, 1983, in
Volume 556, Page 345, Deed Records; amended in instrument recorded in Volume 9592, Page 240, all being
of Brazos County, Texas, as noted on survey by Brad Kerr, R.P.L.S. No. 4502, dated February 19, 2010,
revised February 22, 2010, April 6, 2010, and again on May 5, 2010. ,
j. Easement executed by Mrs. Esther McCulloch Dansby to the City of Bryan, Texas, dated March 16, 1983,
recorded in Volume 566, Page 489, Deed Records of Brazos County, Texas, as noted on survey by Brad Kerr,
R.P.L.S. No. 4502, dated February 19, 2010, revised February 22, 2010, April 6, 2010, and again on May 5,
2010. (BLANKET)
k. Revised Easement and Right -of -Way executed by Esther Jane Grant McDougal and Pauline Bruce Grant to
General Telephone Company of the Southwest, dated February 27, 1985, recorded in Volume 771, Page 12,
Official Records of Brazos County, Texas, as shown on survey by Brad Kerr, R.P.L.S. No. 4502, dated
February 19, 2010, revised February 22, 2010, April 6, 2010, and again on May 5, 2010.
FORM T -1: Owner's Policy of Title Insurance Page 5
Continuation of Schedule B Policy No. 8239843 - 81011155
I. Easement executed by Esther Jane Grant McDougal and Pauline Bruce Grant to City of Bryan, dated
January 11, 1993, recorded in Volume 1697, Page 170, Official Records of Brazos County, Texas, as shown on
survey by Brad Kerr, R.P.L.S. No. 4502, dated February 19, 2010, revised February 22, 2010, April 6, 2010,
and again on May 5, 2010.
m. Easement executed by Esther Jane McDougal to Aquila Southwest Pipeline Corporation, dated July 8, 1994,
recorded in Volume 2168, Page 28, Official Records of Brazos County, Texas, as shown on survey by Brad
Kerr, R.P.L.S. No. 4502, dated February 19, 2010, revised February 22, 2010, April 6, 2010, and again on
May 5, 2010.
n. Easement executed by Pauline Bruce Diebel to Aquila Southwest Pipeline Corporation, dated July 11, 1994,
recorded in Volume 2168, Page 34, Official Records of Brazos County, Texas, as shown on survey by Brad
Kerr, R.P.L.S. No. 4502, dated February 19, 2010, revised February 22, 2010, April 6, 2010, and again on
May 5, 2010.
o. Easement and Right -of -Way executed by Esther Jane Grant McDougal and Fain McDougal, Jr. to Williams
Communication, Inc., d /b /a Vyvx, Inc., dated March 21, 2000, recorded in Volume 3766, Page 234, Official
Records of Brazos County, Texas, as shown on survey by Brad Kerr, R.P.L.S. No. 4502, dated February 19,
2010, revised February 22, 2010, April 6, 2010, and again on May 5, 2010.
P. *Mineral and /or royalty interest, as described in instrument executed by Esther. Jane Grant McDougal and
Pauline Grant Diebel, dated September 30, 1993, recorded in Volume 1934, Page 157, Official Records of
Brazos County, Texas; including but not limited to the right to use the surface of the land. Company makes
no representation as to the present ownership of this interest.
q. *Mineral and /or royalty interest, as described in instrument executed by Esther Jane Grant McDougal and
Diebel Family Partners, Ltd., dated April 17, 2000, recorded in Volume 4027, Page 29, Official Records of
Brazos County, Texas, including but not limited to the right to use the surface of the land. Company makes
no representation as to the present ownership of this interest.
r. *Mineral and /or royalty interest, as described in instrument executed by Diebel Family Partners, Ltd. to Dos
Dorado Development, LLC d/b /a 3 -D Development, dated June 1, 2010, recorded in Volume 9656, Page 213,
Official Records of Brazos County, Texas, including but not limited to the right to use the surface of the land.
Company makes no representation as to the present ownership of this interest.
s. *Waiver of Surface Rights executed by Diebel Family Partners, Ltd. and Pauline Grant Diebel, acknowledged
June 1, 2010, recorded in Volume 9656, Page 203, Official Records of Brazos County, Texas.
t. *Waiver of Surface Rights executed by Diebel Family Partners, Ltd. and Esther Jane Grant McDougal,
acknowledged June 1, 2010, recorded in Volume 9656, Page 208, Official Records of Brazos County, Texas.
*Title to said interest has not been ini'estigated subsequent to the date of the aforementioned instrument.
u. 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.
v. Rights of parties in possession.
Countersigned
Lawyers Title Company of Brazos County tl/
Authorized Countersignature
FORM T -1: Owner's Policy of Title Insurance Page 6
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IMPORTANT NOTICE AVISO IMPORTANTE
To obtain information or make a complaint you may Para obtener informacion o para someter una
write to Lawyers Title Insurance Corporation at: queja usted tambien puede escribir a Lawyers Title
Insurance Corporation:
P.O. Box 45023 P.O. Box 45023
Jacksonville, FL 32232 -5023 Jacksonville, FL 32232 -5023
You may contact the Texas Department of Puede comunicarse con el Departamento de
Insurance to obtain information on companies, Seguros de Texas para obtener informacion acerca
coverages, rights or complaints at: de companias, coberturas, derechos o quejas al:
1- 800 - 252 -3439 1 -800- 252 -3439
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You may write to the Texas Department of Puede escribir al Departmento de Seguros de
Insurance: Texas:
P. 0. Box 149104 P. 0. Box 149104
Austin, TX 78714 -9104 Austin, TX 78714 -9104
Fax: (512) 475 -1771 Fax: (512) 475 -1771
Web: http: / /www.tdi.state.tx.us Web: http: / /www.tdi.state.tx.us
E -mail: ConsumerProtection (a7tdi.state.tx.us E -mail: ConsumerProtection cr tdi.state.tx.us
PREMIUM OR CLAIM DISPUTES: DISPUTAS SOBRE PRIMAS 0 RECLAMOS:
Should you have a dispute concerning your Si tiene una disputa concerniente a su prima o a un
premium or about a claim you should contact the reclamo, debe comunicarse con la compania
company first. If the dispute is not resolved, you primero. Si no se resuelve la disputa, puede
may contact the Texas Department of Insurance. entonces comunicarse con el departamento (TDI).
ATTACH THIS NOTICE TO YOUR POLICY: UNA ESTE AVISO A SU POLIZA:
This notice is for information only and does not Este aviso es solo pars proposito de informacion y
become a part or condition of the attached no se convierte en parte o condicion del
document. - documento adjunto.
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EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs. attorneys' fees or expenses that arise by reason
of:
1. (a) Any law, ordinance, permit, or govemmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting or relating to:
(1) the occupancy, use, or enjoyment of the Land;
(ii) the character, dimensions or location of any improvement erected on the Land:
(iii) subdivision of land; or
(iv) environmental protection;
or the effect of any violation of these laws, ordinances or governmental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered
• Risk 5.
. (b) Any governmental police power. This Exclusion I (b) does not modify or limit the coverage provided under Covered Risk 6.
2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8.
3. Defects, liens, encumbrances, adverse claims or other matters:
(a) created, suffered, assumed or agreed to by the insured Claimant;
(b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by
the insured Claimant prior to the date the Insured Claimant became an insured under this policy;
(c) resulting in no loss or damage to the Insured Claimant;
(d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 9 and 10); or
(e) resulting in loss or damage that would not have been sustained if the insured Claimant had paid value for the Title.
4. Any claim by reason of the operation of federal bankruptcy, state insolvency or similar creditors' rights laws that the transaction vesting the Title as shown in Schedule A is:
(a) a fraudulent conveyance or fraudulent transfer, or
(b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy.
5. Any lien on the Title for real estate taxes or assessments imposed by govennmental authority and created or attaching between Date of Policy and the date of recording of the
deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A.
6. The refusal of any person to purchase, lease or lend money on the estate or interest covered hereby in the land described in Schedule A because of Unmarketable Title.
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CONDITIONS
1. DEFINITION OF TERMS. clerk of the United States District Court for the district where the Land
The following terms when used in this policy mean: is located.
(a) "Amount of Insurance ": the amount stated in Schedule A, as may be (j) "Title ": the estate or interest described in Schedule A.
increased or decreased by endorsement to this policy, increased by (k) "Unmarketable Title ": Title affected by an alleged or apparent matter
Section 8(h), or de- creased by Sections 10 and 11 of these Conditions. that would permit a prospective purchaser or lessee of the Title or lender
(b) "Date of Policy ": The date designated as "Date of Policy" in Schedule A. on the Title to be released from the obligation to purchase, lease or lend if
(c) "Entity ": A corporation, partnership, trust, limited liability company or other there is a contractual condition requiring the delivery of marketable title.
similar legal entity. 2. CONTINUATION OF INSURANCE.
(d) "Insured ": the Insured named in Schedule A.. The coverage of this policy shall continue in force as of Date of Policy in favor
(1) The term "Insured" also includes: . of an Insured, but only so long as the Insured retains an estate or interest in the
(A) successors to the Title of the Insured by operation of law as Land, or holds an obligation secured by a purchase money Mortgage given by a
distinguished from purchase, including heirs, devisees, purchaser from the Insured, or only so long as the insured shall have liability
survivors, personal representatives or next of kin; by reason of warranties in any transfer or conveyance of the Title. This policy
(B) successors to an Insured by dissolution, merger, consolidation, shall not continue in force in favor of any purchaser from the insured of either (i)
distribution or reorganization; an estate or interest in the Land, or (ii) an obligation secured by a purchase
(C) successors to an Insured by its conversion to another kind of money Mortgage given to the Insured.
Entity; 3. NOTICE OF CLAIM TO BE GIVEN BY i:NSURED CLAIMANT.
(D) a grantee of an insured under a deed delivered without payment The insured shall notify the Company promptly in writing (i) in case of any
of actual valuable consideration conveying the Title: litigation as set forth in Section 5(a) below, or (ii) in case Knowledge shall
(1) If the stock, shares, memberships, or other equity interests come to an Insured hereunder of any claim of title or interest that is adverse
of the grantee are wholly -owned by the named Insured, to the Title, as insured, and that might cause loss or damage for which the
(2) If the grantee wholly owns the named Insured, Company may be liable by virtue of this policy. iC the Company is prejudiced
(3) if the grantee is wholly-owned by an affiliated Entity of by the failure of the insured Claimant to provide prompt notice, the Company's
the named Insured, provided the affiliated Entity and the liability to the Insured Claimant under the policy shall be reduced to the extent
named Insured are both wholly -owned by the same of the prejudice.
person or Entity, or When, after the Date of the Policy, the Insured notifies the Company. as
(4) If the grantee is a trustee or beneficiary of a trust created required herein of a lien, encumbrance, adverse claim or other defect in Title
by a written instrument established by the Insured named insured by this policy that is not excluded or excepted from the coverage of
in Schedule A for estate planning purposes. this policy, the Company shall promptly investigate the charge to determine
(ii) With regard to (A), (B), (C) and (D) reserving, however, all rights whether the lien, encumbrance, adverse claim or defect or other matter is
and defenses as to any successor that the Company would have had valid and not barred by law or statute. The Company shall notify the Ensured in
against any predecessor Insured. writing, within a reasonable time, of its determination as to the validity or
(e) "Insured Claimant ": an insured claiming loss or damage. invalidity of the Insured's claim or charge under the policy. If the Company
(f) "Knowledge" or "Known": actual knowledge, not constructive knowledge concludes that the lien, encumbrance, adverse claim or defect is not covered
or notice that may be imputed to an Insured by reason of the Public by this policy, or was otherwise addressed in the closing of the transaction in
Records or any other records that impart constructive notice of matters connection with which this policy was issued, the Company shall specifically
affecting the Title. advise the Insured of the reasons for its determination. If the Company
(g) "Land ": the and described in Schedule A, and affixed improvements that concludes that the lien, encumbrance, adverse claim or defect is valid, the
by law constitute real property. The term "Land" does not include any Company shall take one of the following actions: (i) institute the necessary
property beyond the lines of the area described in Schedule A, nor any proceedings to clear the lien, encumbrance, adverse claim or defect from the
right, title, interest, estate or easement in abutting streets, roads, avenues, Title as insured; (ii) indemnify the Insured as provided in this policy; (iii) upon
alleys, lanes, ways or waterways, but this does not modify or limit the payment of appropriate premium and charges therefor, issue to the Insured
extent that a right of access to and from the Land is insured by this policy. Claimant or to a subsequent owner, mortgagee or holder of the estate or interest
(h) "Mortgage ": mortgage, deed of trust, trust deed, or other security in the Land insured by this policy, a policy of title insurance without
instrument, including one evidenced by electronic means authorized by exception for the lien, encumbrance, adverse claim or defect, said policy to be
law. in an amount equal to the current value of the Land or, if a loan policy, the
(1) "Public Records ": records established under state statutes at Date of amount of the loan; (iv) indemnify another title insurance company in
Policy for the purpose of imparting constructive notice of matter connection with its issuance of a policy(ies) of title insurance without
relating to real property to purchasers for value and without exception for the lien, encumbrance, adverse claim or defect; (v) secure a
Knowledge. With respect to Covered Risk 5(d), "Public Records" shall release or other document discharging the lien, encumbrance, adverse claim
also include environmental protection liens filed in the records of the or defect: or (vi) undertake a combination of (i) through (v) herein.
8239843 (2/10) Owner's Policy of Title insurance T -1 (2/01 /10)
in case of a claim under this policy, the Company shall have the following
4. PROOF OF LOSS. additional options:
In the event the Company is unable to determine the amount of loss or damage, (a) To Pay or Tender Payment of the Amount of Insurance.
the Company may, at its option, require as a condition of payment that the To pay or lender payment of the Amount of insurance under this policy
insured Claimant furnish a signed proof of loss. The proof of loss must describe together with any costs, attorneys' fees and expenses incurred by the
the defect, lien, encumbrance or other matter insured against by this policy that Insured Claimant that were authorized by the Company up to the time of
constitutes the basis of loss or damage and shall state, to the extent possible, the payment or tender of payment and that the Company is obligated to pay. _
basis of calculating the amount of the loss or damage. Upon the exercise by the Company of this option, all liability and obligations of
5. DEFENSE AND PROSECUTION OFACTIONS. the Company to the Insured under this policy, other than to make the payment
(a) Upon written request by the Insured, and subject to the options contained required in this subsection, shall terminate. including any liability or
in Sections 3 and 7 of these Conditions, the Company, at its own cost and obligation to defend, prosecute, or continue any litigation.
without unreasonable delay, shall provide for the defense of an Insured in (b) To Pay or Otherwise Settle. With Parties Other than the Insured or With
litigation in which any third party asserts a claim covered by this policy the Insured Claimant.
adverse to the insured. This obligation is limited to only those stated (i) to pay or otherwise settle with other parties for or in the name of
causes of action alleging matters insured against by this policy. The an Insured Claimant any claim insured against under this policy. In
Company shall havethe right to select counsel of its choice (subject to addition, the Company will pay any costs. attorneys' fees and
the right of the Insured to object for reasonable cause) to represent the expenses incurred by the Insured Claimant that were authorized by
insured as to those stated causes of action. it shall not be liable for and the Company up to the time of payment and that the Company is
will not pay the fees of any other counsel. The Company will not pay obligated to pay; or
any fees, costs or expenses incurred by the Insured in the defense of (ii) to pay or otherwise settle with the Insured Claimant the loss or
those causes of action that allege matters not insured against by this damage provided for under this policy, together with any costs,
policy. attomeys' fees and expenses incurred by the Insured Claimant that
(b) The Company shall have the right, in addition to the options contained were authorized by the Company up to the time of payment and that
in Sections 3 and 7, at its own cost, to institute and prosecute any the Company is obligated to pay.
action or proceeding or to do any other act that in its opinion may be Upon the exercise by the Company of either of the options provided for in
necessary or desirable. to establish the Title, as insured. or to prevent subsections (b)(i) or (ii), the Company's obligations to the insured under this
or reduce loss or damage to the Insured. The Company may take any policy for the claimed loss or damage, other than the payments required to he
appropriate action under the terms of this policy, whether or not it shall made, shall terminate, including any liability or obligation to defend, prosecute
be liable to the Insured. The exercise of these rights shall not be an or continue any litigation.
admission of liability or waiver of any provision of this policy. If the 8. DETERMINATION AND EXTENT OFLIABILITY.
Company exercises its rights under this subsection, it must do so This policy is a contract of indemnity against actual monetary loss or damage
diligently. sustained or incurred by the insured Claimant who has suffered loss or
(c) Whenever the Company brings an action or asserts a defense as required damage by reason of matters insuredagainst by this policy.
or permitted by this policy, the Company may pursue the litigation to a (a) The extent of liability of the Company for loss or damage under this
final determination by a court of competent jurisdiction and it expressly policy shall not exceed the lesser of: •
reserves the right, in its sole discretion, to appeal from any adverse (i) theAmount of Insurance; or
judgment or order, (ii) the difference between the value of the Title as insured and the value
6. DUTY OF INSURED CLAIMANT TO COOPERATE. of the Title subject to the risk.insured against by this policy.
(a) In all cases where this policy pennits or requires the Company to prosecute (b) If the Company pursues its rights under Section 3 or 5 and is unsuccessful
or provide for the defense of any action or proceeding and any appeals, in establishing the Title, as insured:
the insured shall secure to the Company the right to so prosecute or (i) theAmount of insurance shall be increased by 10%; and
provide defense in the action or proceeding, including the right to use, at (ii) the Insured Claimant shall have the right to have the loss or
its option, the name of the Insured for this purpose. Whenever requested • damage determined either as of the date the claim was made by the
by the Company, the Insured, at the Company's expense, shall give the Insured Claimant or as of the date it is settled and paid.
Company all reasonable aid (i) in securing evidence, obtaining witnesses, (c) im addition to the extent of liability under (a) and (b), the Company will
prosecuting or defending the action or proceeding, or effecting also pay those costs, attorneys' fees and expenses incurred in
settlement, and (ii) in any other lawful act that in the opinion of the accordance with Sections 5 and 7 of these Conditions.
Company may be necessary or desirable to establish the Title or any other 9. LIMITATION OF LIABILITY.
matter as insured, if the Company is prejudiced by the failure of the (a) if the Company establishes the Title, or removes the alleged defect, lien
insured to furnish the required cooperation, the Company's obligations or encumbrance, or cures the lack of a right of access to or from the Land.
to the insured under the policy shall terminate, including any liability or all as insured, or takes action in accordance with Section 3 or 7, in a
obligation to defend, prosecute, or continue any litigation, with regard to reasonably diligent manner by any method, including litigation and the
the matter or matters requiring such cooperation. completion of any appeals, it shall have fully performed its obligations
(b) The Company may reasonably require the Insured Claimant to submit to with respect to that matter and shall not be liable for any loss or damage
examination under oath by any authorized representative of the caused to the Insured.
Company and to produce for examination, inspection and copying, at such (b) in the event of any litigation, including litigation by the Company or with
reasonable times and places as may he designated by the authorized the Company's consent, the Company shall have 110 liability for loss or
representative of the Company, all records, in whatever medium damage until there has been a final determination by a court of competent
maintained, including books, ledgers, checks, memoranda, jurisdiction, and disposition of all appeals, adverse to the Title, as
correspondence, reports, mails, disks, tapes, and videos whether insured.
bearing a date before or after Date of Policy, that reasonably pertain to (c) The Company shall not be liable for loss or damage to the Insured for
the loss or damage. Further, if requested by any authorized representative liability voluntarily assumed by the insured in settling any claim or suit
of the Company, the Insured Claimant shall grant its permission, in without the prior written consent of the Company.
writing, for any authorized representative of the Company to examine, 10, REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF
inspect and copy all of these records in the custody or control of a third LIABILITY. •
party that reasonably pertain to the loss or damage. All information All payments under this policy, except payments made for costs. attorneys'
designated as confidential by the insured Claimant provided to the fees and expenses, shall reduce the Amount of Insurance by the amount of the
Company pursuant to this Section shall not he disclosed to others payment.
unless, in the reasonable judgment of the Company, it is necessary in the
administration of the claim. Failure of the Insured Claimant to submit 11. LIABILITY NONCUI1'[ULAT[VE.
for examination under oath, produce any reasonably requested The Amount of Insurance shall be reduced by any amount the Company pays
information or grant permission to secure reasonably necessary under any policy insuring a Mortgage to which exception is taken in
information from third parties as required in this subsection, unless Schedule B or to which the insured has agreed, assumed, or taken subject or •
prohibited by law or governmental regulation, shall terminate any which is executed by an insured after Date of Policy and which is a charge or
liability of the Company under this policy as to that claim. lien on the Title, and the amount so paid shall be deemed a payment to the
7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; Insured under this policy.
TERMINATION 01? LIABILITY. 12. PAYMENT OF LOSS.
When liability and the extent of loss or damage have been definitely fixed in
8239843 (2/10) Owner's Policy of Title Insurance T -1 (2/01/10)
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accordance with these Conditions, the payment shall be made within 30 days. any action asserting such claim, shall be restricted to this policy.
13. RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT. (c) Any amendment of or endorsement to this policy must be in writing and
(a) Whenever the Company shall have settled and paid a claim under this policy, authenticated by an authorized person, or expressly incorporated by
it shall be subrogated and entitled to the rights of the Insured Claimant in ScheduleA of this policy.
the Title and all other rights and remedies in respect to the claim that the (d) Each endorsement to this policy issued at any time is made a part of
Insured Claimant has against any person or property, to the extent of the this policy and is subject to all of its terms and provisions. Except as the
amount of any loss, costs, attorneys' fees and expenses paid by the Company. endorsement expressly states, it does not (1) modify any of the terms and
If requested by the Company, the insured Claimant shall execute provisions ofthe,policy, (ii)modify any prior endorsement, (iii) extend the
documents to evidence the transfer to the Company of these rights and Date of Policy or (iv) increase the Amount of insurance. Each
remedies. The Insured Claimant shall permit the Company to sue, Commitment, endorsement or other form, or provision in the Schedules
compromise or settle in the name of the Insured Claimant and to use the to this policy that refers to a term defined in Section 1 of the Conditions
name of the Insured Claimant in any transaction or litigation involving these shall be deemed to refer to the term regardless of whether the term is
rights and remedies. If a payment on account of a claim does not fully cover capitalized in the Commitment, endorsement or other funs, or
the loss of the Insured Claimant, the Company shall defer the exercise of Schedule.
its right to recover until after the Insured Claimant shall have recovered its Each Commitment, endorsement or other form, or provision in the Schedules
loss.
(h) The Company's right of subrogation includes the rights of the Insured to that refers to the Conditions and Stipulations shall be deemed to refer to the
indemnities, guaranties, other policies of insurance or bonds, Conditions of this policy.
notwithstanding any terms or conditions contained in those instruments that 16. SEVERABiLiTY.
address subrogation rights. In the event any provision of this policy, in whole or in part, is held invalid
14. ARBITRATION. or unenforceable under applicable law, the policy shall be deemed not to include
• Either the Company or the Insured may demand that the claim or controversy that provision or such part held to be invalid and all other provisions shall remain
shall he submitted to arbitration pursuant to the Title Insurance Arbitration in full force and effect.
Rules of the American Land Title Association ( "Rules "). Except as provided in 17. CHOICE OF LAW FORUM. •
the Rules, there shall be no ,joinder or consolidation with claims or (a) Choice of Law: The Insured acknowledges the Company has
controversies of other persons. Arbitrable matters may include, but are not underwritten the risks covered by this policy and determined the premium
limited to, any controversy or claim between the Company and the Insured charged therefor in reliance upon the law affecting interests in real
arising out of or relating to this policy, any service in connection with its property and applicable to the interpretation, rights, remedies or
issuance or the breach ofa policy provision, or to any other controversy or claim enforcement of policies of title insurance of time jurisdiction where the
arising out of the transaction giving rise to this policy, All arbitrable matters Land is located. Therefore, the court or an arbitrator shall apply the la�v
when the. Amount of Insurance is $2,000,000 or less shall be arbitrated at the of the jurisdiction where the Land is located to determine the validity of
option of either the Company or the Insured, unless the Insured is an individual claims against the Title that are adverse to the Insured, and in interpreting
person (as distinguished from an Entity). All arbitrable matters when the and enforcing the terms of this policy. in neither case shall the court or
Amount of Insurance is in excess of $2,000,000 shall be arbitrated only when arbitrator apply its conflicts of laws principles to determine the applicable
agreed to by both the Company and the Insured. Arbitration pursuant to this law'
policy and under the Rules shall be binding upon the parties. Judgment upon (b) Choice of Forum: Any litigation or other proceeding brought by the
the award rendered by theArbitrator(s) may be entered in any court of competent, Insured against the Company trust be filed only in a state or federal court
jurisdiction. ' within the United States of America or its territories having appropriate •
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15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT. jurisdiction. —
(a) This policy together with all endorsements, if any, attached to it by the 18. NOTICES, WHERE SENT.
Company is the entire policy and contract between the insured and the Any notice of claim and any other notice or statement in writing required to
Company. In interpreting any provision of this policy, this policy shall be be given the Company under this Policy must be given to time Company at
construed as a whole. National Claims Administration, P.O. Box 45023, Jacksonville, Florida 32232 -
(b) Any claim of loss or damage that arises out of the status of the Title or by 5023.
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8239843 (2/10) Owner's Policy of Title Insurance T -1 (2/01/10)
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