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HomeMy WebLinkAboutTitle Insurance JUL. 2O.2012 5:O1PM UNIVER'SITY TITLE CO. NO. 0563 P. 1/9 L�NIVE IT FAX NUMBERS Closing Services: (979) 268 -3080 Toll Free Fax (866) 390 -3080 FROM UNIVERSITY TITLE COMPANY RE; GF # 00121355 James H. Martin and Robyn L. Martin / Heath Phillips Investments LLC FAX TRANSMITTAL PAGE PLEASE DELIVER THE FOLLOWING FAX TO: NAME: Matt Robinson COMPANY OR FIRM NAME' City of College Station TELECOPIER NUMBER: 979 -764 -3496 TOTAL NUMBER OF PAGES (Including Transmittal page) Date: 7/20/12 IF YOU DO NOT RECEIVE ALL OF THE PAGES, OR IF YOU HAVE ANY QUESTIONS PLEASE CALL (979) 260 -9818 OR (866) 326 -9818 COMMENTS: • Revised title commitment with updated vesting showing D. Phillips Contracting, LLC SENT BY: Alex Misiaszek Confidentiality Notice: The information contained in the facsimile transmission is privileged and confidential, and is intended only for the use of the individual and /or entity named above. If the reader or receiver of this message is not the intended recipient, you are hereby notified that any dissemination, distribution, or copy of this fax is strictly prohibited. If you have received this fax in error, please immediately notify University Title Company by telephone (979) 260 -9818 or (866) 326 -9818 and return the original message to us at P.O. Drawer DT, College Station, TX 77841 -5079, via United States Postal Service. Thank You. Celia Goode- Haddock, President 1021 University Drive East Post Office Drawer DT College Station, TX 77841 -5079 Telephone: (979) 260 -9818 www.UTITLE.coni JUL. 20.2012 5:02PV UNIVERSITY TITLE CO. NO.0563 P. 2/9 TEXAS COMMITMENT FOR TITLE INSURANCE SCHEDULE A Effective Date: July 10, 2012 at 8:00 a.m. GF No. 00121355 Commitment issued July 20, 2012, 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: $ PROPOSED INSURED: (b) TEXAS RESIDENTIAL OWNER POLICY OF TITLE INSURANCE - ONE -TO -FOUR FAMILY RESIDENCES (Form T -1R) Policy Amount: $185,900.00 PROPOSED INSURED' James H. Martin and Robyn L. Martin (c) MORTGAGEE POLICY OF TITLE INSURANCE (FORM T -2) Policy Amount: $148,720,00 PROPOSED INSURED: 1st Alliance Mortgage LLC Proposed Borrower: James II. Martin and Robyn L. Martin (d) TEXAS SHORT FORM RESIDENTIAL MORTGAGEE POLICY (Form T -2R) Policy Amount: $ PROPOSED INSURED: Proposed Borrower: (e) MORTGAGEE TITLE POLICY ENDER. ON INTERIM CONSTRUCTION LOAN (Form T -13) Binder Amount: $ PROPOSED INSURED: Proposed Borrower (f) OTHER: Policy Amount: $ PROPOSED INSURED: 2. The interest in the land covered by this Commitment is: Fee simple 3. Record Title to the land on the Effective Date appears to be vested in: D. Phillips Contracting, LLC University Title Company First American Title Insurance Company Texas Commitment T.7 (Rev. 1 -1 -93) - Schedule A Valid Only if Schedule B, C, and Cover are attached JGL. 20, 2012 5 :02PU1 UNIVEPSITY TIT_E CO. NO. 0563 P. 3/9 SCHEDULE A - continued GF No. 00121355 4. Legal description of land: Lot One (1), Block Three (3), The Barracks 11 Subdivision Phase 100, City of College Station, according to plat thereof recorded in Volume 10570, Page 243 of the Official Records of Brazos County, Texas. J'_. 20. 2012 6:02`M JNIVE ,3ITY TIT_E 00, NO. 0563 P. z-/9 SCHEDULE B GF No. 00121355 EXCEPTIONS FROM COVERAGE In addition to the Exclusions and Conditions and Stipulations, your policy will not cover loss, costs, attorney's fees, and expenses resulting from: 1. The following restrictive covenants of record itemized below (We must either insert specific recording data or delete this exception): Volume 10570, Page 293 (on plat); Volume 8986, Page 115; Volume 9549, Page 95; Volume 9520, Page 215 and Volume 10671, Page 145, 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 2012, 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 First American Title Insurance Company Texas Commitment T -7 (Rev. 1 -1 -93) - Schedule B Valid Only if Schedule A, C, D and Cover are attached JUL. 2 /. 22 5: U \IVER :TY TITLE CO. NO c)563 F. 5/9 SCHEDULE B - continued GF No. 00121355 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." (LENDER'S POLICY ONLY) c. 20' building line and 20' public utility easement (10' on property) on the northwest side; 20' building line and 10' public utility easement on the southeast side; 5' building line and 10' public utility easement (partly on property) southwest side; as shown on plat recorded in Volume 10570, Page the south p a 293 of the Official Records of Brazos $ County, Texas; as set out in restrictions recorded in Volume 8986, Page 115 and Volume 10671, Page I45of the Official Records of Brazos County, Texas, as shown on survey prepared on June 26, 2012, under the supervision of Brad Ken, R.P.L.S. #4502. d. Any Claim or right of adjoining property owner(s) to that strip of land lying between the fence and the boundary line on the southwest side of the property, as shown on survey prepared on June 26, 2012, under the supervision of Brad Kerr, R P.L.S. #4502 (OWNER POLICY ONLY) e. Maintenance Charges and the Lien securing the payment of the same, as set out in restrictions recorded in Volume 8986, Page 115 and Volume 10671, Page 145 of the Official Records of Brazos County, Texas. f. Blanket Easement: From: P. D, Gandy, et ux To: City of Bryan Dated: December 22, 1949 Recorded: Volume 141, Page 392, Deed Records, Brazos County, Texas; as noted on survey prepared on June 26, 2012, under the supervision of Brad Kerr, R.P.L.S. #4502. g. Bill of Sale — Water Rights: From: Haupt Family Partnership To: Haupt Water Partnership Dated: November 24, 2000 Recorded: Volume 4012, Page 288, Official Records, Brazos County, Texas. h. Mineral and Water Reservation in Deed: By: Arrenia H. Ellis, et al To: Heath Philips Investments, LLC Dated; May 13, 2010 Recorded: Volume 9627, Page 73, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. JUL, 20. 2012 5:002':M UNIVE_.3:TV TIT'S__ co. N0. 0563 P. 6/9 SCHEDULE B - continued GP No. 00121355 i. Royalty Reservation in Deed: By: S. F. Machos, et al To: P, D. Gandy Dated: October 3, 1949 Recorded: Volume 140, Page 614, Deed Records of Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. j. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Roy G. Courim, et al Lessee: Keith D. Graham Dated; June 26, 1991 Recorded: Volume 1357, Page 189, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. k. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Florence H. King Lessee: Baker Exploration Company Dated: Deceber 14, 1993 Recorded: Volume 2020, Page 93, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument, 1. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Luella Haupt Trotter Lessee: Baker Exploration Company Dated: December 14, 1993 Recorded: Volume 2020, Page 113, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. m. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Stella G. Haupt Lessee: Baker Exploration Company Dated: December 14, 1993 Recorded: Volume 2020, Page 122, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. n. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Arrenia Haupt Ellis Lessee: Baker Exploration Company Dated: December 14, 1993 Recorded: Volume 2020, Page 140, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. o. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Lewis M. Haupt Lessee: Baker Exploration Company Dated: December 14, 1993 Recorded: Volume 2020, Page 146, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. JUL. 20.2012 :02PM UNIVER`ITY TIT'_E 00. NO. 0563 P. 7/9 • SCHEDULE C GF No. 00121355 Your policy will not cover loss, costs, attorneys 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, Iaborer'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 2012 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 & TI9 Endorsements, upon payment of any applicable premiums. (As to Mortgagee Policy Only) 8. If requested in lenders closing instructions and upon payment of applicable premium, we will issue the T -53 Texas Limited Coverage Residential Chain of Title Policy. 9. 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. 10. 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. 11. We will require an original Tax Certificate be provided, showing all taxes paid current, prior to issuance of any title policies. (If this transaction is not closing in our office, let us know if we need to order the tax certificate.) University Title Company First American Title Insurance Company Texas Commitment T -7 (Rev. I.1.93) - Schedule C Valid Only if Schedule A, B, b and Cover are attached JLJL. 20.2912 5 :02PM AIVERSITY TITLE CO. N0. 0563 P. 8/9 SCHEDULE C - continued GF No. 00121355 12. 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 S2,000,000 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. Xfyou 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. 13. 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. 14. Twenty -four Month Chain of Title: The following is a Iist of DEEDS affecting title to the real property described supra for the preceding twenty -four months: Vesting Deed to owners shown herein was dated May 13, 2010 and recorded in Volume 9627, Page 73, Official Records, Brazos County, Texas. 15. Record a Partial Release of Deed of Trust to secure a Note: Grantor; D. Phillips Contracting, LLC Trustee: Ivan M. Olson Beneficiary: The Bank & Trust of Bryan /College Station Amount: 51,383,200.00 Dated: April 18, 2012 Recorded: Volume 10626, Page 240, Official Records, Brazos County, Texas. University Title ompany By: `1 , 1 <�a� `T v AuthOrizzed Coun turc (I, • JUL. 20. 2012 5:02PM UNIVERSITY TITLE CO. N0. 0563 P. 9/9 SCHEDULE D GF No. 00121355 The following disclosures are made pursuant to Procedural Rule P -21, promulgated by the Texas Department of Insurance: 1. UNDERWRITER: First American Title Insurance Company, a California corporation. Shareholder owning or controlling, directly or indirectly, ten percent or more of the shares of the Underwriter: First American Title Insurance Company is a wholly owned subsidiary of First American Financial Corporation, a public company formed in Delaware. Directors: Dennis J. Gilmore, Mark J. Hanmsworth, Parker S. Kennedy, Jeffrey S. Robinson and Timothy V. Kemp Officers: President Dennis 3. Gilmore; Executive Vice President, Chief Financial Officer: Mark J. Hannsworth; Vice President, Secretary: Timothy V. Kemp; and Executive Vice President, Business Director: John M. Hallenbeck. 2. AGENT: UNIVERSITY TITLE CO1VMFANY a Shareholder, owner, partner or other person having, owning or controlling one percent (1 %) or more of the Title Insurance Agent that: Celia Goode- Haddock William C. Lipsey Michael R. Hoelscher Karen McCarroll b. Shareholder, owner, partner or other person having, owning or controlling ten percent (10 %) or more of an entity that has, owns or controls one percent (1 %) or more of the Title Insurance Agent: not applicable c. The following persons are officers and directors of the Title Insurance Agent: Officers Directors Chairman/CEO - Celia Goode - Haddock Celia Goode- Haddock President/C00 - Karen McCarroll Michael R. Hoelscher Senior Vice President - Joseph Poteet William C. Lipsey Vice President - Michael R. Hoelscher Karen McCarroll Secretary/Treasurer - 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 a portion of the premium from the settlement of this transaction will be disclosed on the closing or settlement statement. You are further advised that the estimated title premium* is: Owner's Policy $ _ 1,302.00 Loan Policy $ _ 100.00 Endorsement Charges $ 180.15 Other $ Total $ 1,582.15 Of this total amount: $ or 15,00% will be paid to the policy issuing Title Insurance Company: $ or 85.00% will be retained by the issuing Title Insurance Agent, and the remainder of the estimated premium will be paid to other parties as follows: Amount To Whom For Services $ * The estimated premium is based upon information furnished to us as of the date of this Commitment for Title Insurance. • Final determination of the amount of the premium will be made at closing in accordance with the Rules and Regulations adopted by the Commissioner of Insurance_ • COMMITMENT FOR TITLE INSURANCE Issued By Alliant National Title Insurance Company SCHEDULE A EffectiveDate: May 1, 2012, 08:00 a.m. GFNo. U122265 1. The policy or policies to be issued are: (a) OWNER'S POLICY OF TITLE INSURANCE (Form T -1) (Not applicable for improved one -to -four family residential real estate) Policy Amount: PROPOSED INSURED: (b) TEXAS RESIDENTIAL OWNER'S POLICY OF TITLE INSURANCE - ONE -TO -FOUR FAMILY RESIDENCES (Form T -1R) Policy Amount: $185,900.00 PROPOSED INSURED: Rosario Patino (c) LOAN POLICY OF TITLE INSURANCE (Form T -2) Policy Amount: PROPOSED INSURED: Proposed Borrower: (d) TEXAS SHORT FORM RESIDENTIAL LOAN POLICY OF TITLE INSURANCE (Form T -2R) Policy Amount: PROPOSED INSURED: Proposed Borrower: (e) LOAN TITLE POLICY BINDER ON INTERIM CONSTRUCTION LOAN (Form T -13) Binder Amount: PROPOSED INSURED: Proposed Borrower: (f) OTHER Policy Amount: PROPOSED INSURED: 2. The interest in the land covered by this Commitment is: Fee Simple 3. Record title to the land on the Effective Date appears to be vested in: D. Phillips Contracting, LLC 4. Legal description of the land: Lot Two (2), Block Three (3), The Barracks II Subdivision Phsae 100, City of College Station, according to the plat thereof recorded in Volume 10570, Page 243, Official Records, Brazos County, Texas. FORM T -7: Commitment for Title Insurance Page 1 • COMMITMENT FOR TITLE INSURANCE Issued By Alliant National Title Insurance Company SCHEDULE B EXCEPTIONS FROM COVERAGE In addition to the Exclusions and Conditions and Stipulations, your Policy will not cover loss, costs, attorneys' fees, and expenses resulting from: 1. The following restrictive covenants of record itemized below (We must either insert specific recording data or delete this exception): Volume 10570, Page 293 (on plat); Volume 8986, Page 115; Volume 9520, Page 215; Volume 9549, Page 95 and Volume 10671, Page 145, 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's 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 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's Policy only.) 5. Standby fees, taxes and assessments by any taxing authority for the year 2012, 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 Loan 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 Loan Title Policy Binder on Interim Construction Loan only, and may be deleted if satisfactory evidence is furnished to us before a binder is issued.) FORM T -7: Commitment for Title Insurance Page 2 • • Continuation of Schedule B GFNo. U122265 8. Liens and leases that affect the title to the land, but that are subordinate to the lien of the insured mortgage. (Applies to Loan Policy (T -2) only.) 9. The Exceptions from Coverage and Express Insurance in Schedule B of the Texas Short Form Residential Loan Policy (T- 1 2R). (Applies to Texas Short Form Residential Loan Policy (T -2R) only. Separate exceptions 1 through 8 of this Schedule B do not apply to the Texas Short Form Residential Loan 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 oil, gas and other minerals in and under the herein described property, together with any rights of ingress and egress, mining or drilling privileges heretofore reserved or conveyed by predecessors in title, and not referenced above as an exception to conveyance or warranty. (LENDER'S POLICY ONLY) c. Visible and apparent easements. d. Portion of the property within any roadway. e. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting title that would be disclosed by an accurate and complete land survey of the land. Y P Y f. Easements and Building Lines as shown on plat recorded in Volume 10570, Page 293, Official Records, Brazos County, Texas. g. Easements and Building Lines as set out in restrictions recorded in Volume 8986, Page 115 and Volume 10671, Page 145, Official Records, Brazos County, Texas. h. Maintenance Charges and the Lien securing the payment of same, as set out in restrictions recorded in Volume 8986, Page 115 and Volume 10671, Page 145 of the Official Records of Brazos County, Texas. i. Blanket Easement: From: P. D. Gandy, et ux To: City of Bryan Dated: December 12, 2049 Recorded: Volume 141, Page 392, Deed Records, Brazos County, Texas. j. Bill of Sale - Water Rights: By: Haupt Family Partnership To: Haupt Water Partnership Dated: November 24, 2000 Recorded: Volume 4012, Page 288, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. k. Mineral Reservation including Water Rights in Deed: By: Arrenia H. Ellis, et al To: Heath Philips Investments, LLC Dated: May 13, 2010 Recorded: Volume 9627, Page 73, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. FORM T -7: Commitment for Title Insurance Page 3 • • Continuation of Schedule B GFNo. U122265 Royalty Reservation in Deed: By: S. F. Machos, et al To: P. D. Gandy Dated: October 3, 2049 Recorded: Volume 140, Page 614, Deed Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. m. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Roy G. Courim, et al Lessee: Keith D. Graham Dated: June 26, 1991 Recorded: Volume 1357, Page 189, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. n. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Florence H. King Lessee: Baker Exploration Company Dated: December 14, 1993 Recorded: Volume 2020, Page 93, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. o. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Luella Haupt Trotter Lessee: Baker Exploration Company Dated: December 14, 1993 Recorded: Volume 2020, Page 113, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. P. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Stella G. Haupt Lessee: Baker Exploration Company Dated: December 14, 1993 Recorded: Volume 2020, Page 122, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. q. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Arrenia Haupt Ellis Lessee: Baker Exploration Company Dated: December 14, 1993 Recorded: Volume 2020, Page 140, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. r. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Lewis M. Haupt Lessee: Baker Exploration Company Dated: December 14, 1993 Recorded: Volume 2020, Page 146, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. FORM T -7: Commitment for Title Insurance Page 4 • STEWART TITLE GUARANTY COMPANY SCHEDULE A Effective Date: May 22, 2012 at 8:00 AM File No.: 152149 Commitment issued May 23, 2012 1. POLICY OR POLICIES TO BE ISSUED ARE: (a) OWNER'S POLICY OF TITLE INSURANCE (Form T -1) (Not applicable for improved one -to -four family residential real estate) POLICY AMOUNT: PROPOSED INSURED: (b) TEXAS RESIDENTIAL OWNER'S POLICY OF TITLE INSURANCE -- ONE -TO -FOUR FAMILY RESIDENCES (Form T -1R) POLICY AMOUNT: PROPOSED INSURED: RANDY MECHE and MEMORIE MECHE (c) LOAN POLICY OF TITLE INSURANCE (Form T -2) POLICY AMOUNT: PROPOSED INSURED: TO BE DETERMINED PROPOSED BORROWER: RANDY MECHE and MEMORIE MECHE (d) TEXAS SHORT FORM RESIDENTIAL LOAN POLICY OF TITLE INSURANCE (Form T -2R) POLICY AMOUNT: PROPOSED INSURED: PROPOSED BORROWER: (e) LOAN TITLE POLICY BINDER ON INTERIM CONSTRUCTION LOAN (Form T -13) POLICY AMOUNT: PROPOSED INSURED: PROPOSED BORROWER: (f) OTHER POLICY AMOUNT: PROPOSED INSURED: 2. THE INTEREST IN THE LAND COVERED BY THIS COMMITMENT IS: FEE SIMPLE 3. RECORD TITLE TO THE LAND ON THE EFFECTIVE DATE APPEARS TO BE VESTED IN: D. PHILLIPS CONTRACTING, LLC BRAZOS COUNTY ABSTRACT COMPANY .2-12 orized Signature • STEWART TITLE GUARANTY COMPANY SCHEDULE A File No. 152149 (Continued) 4. LEGAL DESCRIPTION OF THE LAND: Being all that certain lot, tract or parcel of land lying and being situated in Brazos County, Texas and being Lot Three (3), Block Three (3), THE BARRACKS II SUBDIVISION, PHASE 100, an addition to the City of College Station, Texas, according to plat recorded in Volume 10570, page 293, Official Records of Brazos County, Texas. • • STEWART TITLE GUARANTY COMPANY SCHEDULE B File No. 152149 EXCEPTIONS FROM COVERAGE IN ADDITION TO THE EXCLUSIONS AND CONDITIONS AND STIPULATIONS, YOUR POLICY WILL NOT COVER LOSS, COSTS, ATTORNEY'S FEES, AND EXPENSES RESULTING FROM: 1. THE FOLLOWING RESTRICTIVE COVENANTS OF RECORD ITEMIZED BELOW (WE MUST EITHER INSERT SPECIFIC RECORDING DATA OR DELETE THIS EXCEPTION): Terms, provisions, covenants, conditions, and restrictions, easements, charges, assessments and liens provided in the Covenants, Conditions and Restrictions recorded in Volume 8986, page 115, Volume 10570, page 293 (on plat), Volume 10671, page 145 and Volume 10684, page 5, Official Records of Brazos County, Texas, but omitting any covenant, condition or restrictions, if any, based on race, color, religion, sex, handicap, familial status or national origin unless and only to the extent that the covenant, condition or restrictions (a) is exempt under Title 42 of the United States Code, or (b) related 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'S 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'S POLICY ONLY.) 5. STANDBY FEES, TAXES AND ASSESSMENTS BY ANY TAXING AUTHORITY FOR THE YEAR 2012, 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'S 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 LOAN POLICY OF TITLE INSURANCE (T -2R) IS ISSUED, THAT POLICY WILL SUBSTITUTE "WHICH BECOME DUE AND PAYABLE SUBSEQUENT TO DATE OF POLICY" IN LIEU OF "FOR THE YEAR 2012 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'S. (APPLIES TO THE LOAN TITLE POLICY BINDER ON INTERIM CONSTRUCTION LOAN ONLY, AND MAY BE DELETED IF SATISFACTORY EVIDENCE IS PROVIDED TO US BEFORE A BINDER IS ISSUED.) STEWART TITLE GUARANTY COMPANY SCHEDULE B File No. 152149 (Continued) 8. LIENS AND LEASES THAT AFFECT THE TITLE TO THE LAND, BUT THAT ARE SUBORDINATE TO THE LIEN OF THE INSURED MORTGAGE. (APPLIES TO LOAN POLICY (T -2) ONLY.) 9. THE EXCEPTIONS FROM COVERAGE AND EXPRESS INSURANCE IN SCHEDULE B OF THE TEXAS SHORT FORM RESIDENTIAL LOAN POLICY OF TITLE INSURANCE (T -2R). (APPLIES TO TEXAS SHORT FORM RESIDENTIAL LOAN POLICY OF TITLE INSURANCE (T -2R) ONLY. SEPARATE EXCEPTIONS 1 THROUGH 8 OF THIS SCHEDULE B DO NOT APPLY TO THE TEXAS SHORT FORM RESIDENTIAL LOAN POLICY OF TITLE INSURANCE (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's Policy Only) b. Easements, or claims of easements, which are not recorded in the public records. (Owner's Policy Only) c. Easements as shown of record on plat of The Barracks II Subdivision, Phase 100, recorded in Volume 10570, page 293, Official Records of Brazos County, Texas. d. Right -of -Way Easement from J. W. Mochas to Sinclair Refining Company, dated September 6, 1947, recorded in Volume 132, page 68, Deed Records of Brazos County, Texas. e. Right -of -Way Easement from P. D. Gandy, et ux to City of Bryan, dated December 22, 1949, recorded in Volume 141, page 392, Deed Records of Brazos County, Texas. f. Right -of -Way Easement from Arrenia Haupt Ellis, et al to Wellborn Special Utility District, dated May 12, 1999, recorded in Volume 3645, page 298, Official Records of Brazos County, Texas. g. Temporary Blanket Utility Easement from Heath Phillips Investments, LLC to City of College Station, Texas, dated November 1, 2011, recorded in Volume 10420, page 239, Official Records of Brazos County, Texas. h. Royalty reservation in Deed from S. F. Machos, et al to P. D. Gandy, dated October 3, 1949, recorded in Volume 140, page 614, Deed Records of Brazos County, Texas. Title to this reservation has not been traced subsequent to the date of the above -cited instrument. 1. Mineral and groundwater reservation in Deed from Arrenia H. Ellis, et al to Heath Phillips Investments, LLC, dated May 13, 2010, recorded in Volume 9637, page 73, Official Records of Brazos County, Texas. Title to this reservation has not been traced subsequent to the date of the above -cited instrument. j. Estate created by Oil and Gas Leases from Florence Haupt King, et al to Baker Exploration Company, dated December, 1993, recorded in Volume 2020, pages 93, 113, 122 and 140, Official Records of Brazos County, Texas. Title to this lease has not been traced subsequent to the date of the above -cited instrument, k. Estate created by Oil and Gas Lease from Lewis M. Haupt to Baker Exploration Company, dated January 5, 1994, recorded in Volume 2020, page 146, Official Records of Brazos County, Texas. Title to this lease has not been traced subsequent to the date of the above -cited instrument. • • • . STEWART TITLE GUARANTY COMPANY SCHEDULE B File No. 152149 (Continued) I. Terms, conditions and stipulations contained in Bill of Sale for Water rights from Haupt Family Partnership to the Haupt Water Partnership, dated December 7, 2000, recorded in Volume 4012, page 288, Official Records of Brazos County, Texas. m. The terms, conditions and stipulations contained in the 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 10671, page 145, Official Records of Brazos County, Texas. n. Maintenance charge as 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 and amended in Volume 10671, page 145, Official Records of Brazos County, Texas. o. 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 interests that are not listed. p. The Tax Certificate furnished by the taxing authorities is issued on real estate only. It does not include minerals and /or personal property, therefore, no liability is assumed herein for the payment of said mineral and /or personal property tax. NOTE: FOR INFORMATION ONLY: Lender's File /Loan /Reference Number is . NOTE: If requested in closing instructions and upon compliance of endorsement requirements, a T -17 and /or T -19 Endorsement will be attached to Loan Title Policy. ' 4 i TEXAS COMMITMENT FOR TITLE INSURANCE SCHEDULE A Effective Date: March 21, 2012 at 8:00 a.m. GF No, 00121355 Commitment issued June 6, 2012, 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: $ PROPOSED INSURED: (b) TEXAS RESIDENTIAL OWNER POLICY OF TITLE INSURANCE - ONE -TO -FOUR FAMILY RESIDENCES (Form T -IR) Policy Amount: $185,900.00 PROPOSED INSURED: • James H. Martin and Robyn L. Martin (c) MORTGAGEE POLICY OF TITLE INSURANCE (FORM T -2) Policy Amount: $148,720.00 PROPOSED INSURED: 1st Alliance Mortgage LLC Proposed Borrower: James H. Martin and Robyn L. Martin (d) TEXAS SHORT FORM RESIDENTIAL MORTGAGEE POLICY (Form T -2R) Policy Amount: $ PROPOSED INSURED: Proposed Borrower: (e) MORTGAGEE TITLE POLICY BINDER ON INTERIM CONSTRUCTION LOAN (Form T -13) Binder Amount: $ PROPOSED INSURED: Proposed Borrower: (f) OTHER: Policy Amount: $ PROPOSED INSURED: 2. The interest in the land covered by this Commitment is: Fee simple 3. Record Title to the land on the Effective Date appears to be vested in: Heath Philips Investments, LLC University Title Company First American Title Insurance Company Texas Commitment T -7 (Rev. 1 -1 -93) - Schedule A Valid Only if Schedule B, C, D and Cover are attached • ... SCHEDULE A - continued GF No. 00121355 4. Legal description of land: Lot One (1), Block Three (3), The Barracks II Subdivision Phase 100, City of College Station, according to plat thereof recorded in Volume 10570, Page 243 of the Official Records of Brazos County, Texas. • .. SCHEDULE B GP No. 00121355 EXCEPTIONS FROM COVERAGE In addition to the Exclusions and Conditions and Stipulations, your Policy will not cover loss, costs, attomey's fees, and expenses resulting from: 1. The following restrictive covenants of record itemized below (We must either insert specific recording data or delete this exception): Volume 10570, Page 293 (on plat), 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, of 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 2012, 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 First American Title Insurance Company Texas Commitment T -7 (Rev. 1 -1 -93) - Schedule B Valid Only if Schedule A, C, D and Cover are attached • • • SCHEDULE B - continued GF No. 00121355 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." (LENDER'S POLICY ONLY) c. Visible and apparent easements. d. Portion of the property within any roadway. e. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting title that would be disclosed by an accurate and complete land survey of the land. f. Easements and Building Lines as shown on plat recorded in Volume 10570, Page 293 of the Official Records of Brazos County, Texas. g. Blanket Easement: From: P. D. Gandy, et ux To: City of Bryan Dated: December 22, 1949 Recorded: Volume 141, Page 392, Deed Records, Brazos County, Texas. h. Bill of Sale — Water Rights: From: Haupt Family Partnership To: Haupt Water Partnership Dated: November 24, 2000 Recorded: Volume 4012, Page 288, Official Records, Brazos County, Texas. i. Mineral and Water Reservation in Deed: By: Arrenia H. Ellis, et al To: Heath Phillips Investments, LLC Dated: May 13, 2010 Recorded: Volume 9627, Page 73, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. j. Royalty Reservation in Deed: By: S. F. Machos, et al To: P. D. Gandy Dated: October 3, 1949 Recorded: Volume 140, Page 614, Deed Records of Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. • • SCHEDULE B - continued GP No. 00121355 k. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Roy G. Courim, et al Lessee: Keith D. Graham Dated: June 26, 1991 Recorded: Volume 1357, Page 189, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. 1. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Florence H. King Lessee: Baker Exploration Company Dated: Deceber 14, 1993 Recorded: Volume 2020, Page 93, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. m. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Luella Haupt Trotter Lessee: Baker Exploration Company Dated: December 14, 1993 Recorded: Volume 2020, Page 113, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. n. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Stella G. Haupt Lessee: Baker Exploration Company Dated: December 14, 1993 Recorded: Volume 2020, Page 122, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. o. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Arrenia Haupt Ellis Lessee: Baker Exploration Company Dated: December 14, 1993 Recorded: Volume 2020, Page 140, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. p. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Lewis M. Haupt Lessee: Baker Exploration Company Dated: December 14, 1993 Recorded: Volume 2020, Page 146, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument.