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HomeMy WebLinkAboutTitle Report • Lawyers Title Company of Brazos County 1450 Copperfield Parkway College Station, TX 77845 Phone: 979 - 776 -3600 Fax: 979 - 776 -2383 TITLE REPORT Date: January 30, 2012 File No.: GF No. M2253 Record Title at the Effective Date Hereof is Vested in: • Craig & Carol Investments, Ltd., a Texas limited partnership The Land Referred to In this Report is Described as Follows: Tract 1 Lot Six R (6R), Block Two (2), F.S. KAPCHINSKI RESUBDIVISION, an addition to the City of College Station, Brazos County, Texas, according to the plat recorded in Volume 834, Page 637, Official Records of Brazos County, Texas. Tract 2 METES AND BOUNDS DESCRIPTION OF ALL THAT CERTAIN TRACT OF LAND LYING AND BEING SITUATED IN COLLEGE STATION. BRAZOS COUNTY, TEXAS. SAID TRACT BEING TIIE REMAINDER OF LOTS 6 AND 7, BLOCK 2, F. S. KAPCHINSKI SUBDIVISION ACCORDING TO THE PLAT RECORDED IN VOLUME "Y ", PAGE 618A OF THE MECHANICS LIEN RECORDS OF BRAZOS COUNTY, TEXAS. SAID TRACT BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS: BEGINNING AT A 1/2 INCH IRON ROD SET ON THE NORTH LINE OF LOT 6R. BLOCK 2, F. S. KAPCHINSKI RESUBDIVISION ACCORDING TO THE PLAT RECORDED N VOLUME 1834, PAGE 637 OF THE DEED RECORDS OF BRAZOS COUNTY, TEXAS; THENCE: N 24° 33' 25" W ALONG THE NORTH LINE OF SAID LOT 6R, AT 72.51 FEET PASS A 5/8 INCH IRON ROD FOUND ON THE HIGH BANK OF A CREEK, CONTINUE ON FOR A TOTAL DISTANCE OF 87.72 FEET (PLAT CALL: N 20° 38' 10" • . • W - 87.75 FEET, 1834/637) TO A POINT IN SAID CREEK ON THE SOUTHEAST LINE OF A 2.174 ACRE TRACT OF LAND AS DESCRIBED BY A DEED TO S. LIPINSKI HOLDINGS LLC RECORDED IN VOLUME 8358, PAGE 57 OF THE OFFICIAL PUBLIC RECORDS OF BRAZOS COUNTY, TEXAS. SAID POINT MARKING THE NORTHWEST CORNER OF SAID LOT 6R; THENCE: N 46° 18' 00" E ALONG THE SOUTHEAST LINE OF SAID 2.174 ACRE TRACT AND THROUGH SAID CREEK FOR A DISTANCE OF 133.36 FEET TO A 1/2 INCH IRON ROD FOUND ON THE WEST LINE OF LOT 1R OF SAID BLOCK 2 MARKING THE NORTH CORNER OF THIS HEREIN DESCRIBED TRACT; THENCE: S 21° 42' 24" E ALONG THE WEST LINE OF SAID LOT 1R FOR A DISTANCE OF 68.90 FEET (PLAT CALL: S 17° 52' 00" E - 68.95 FEET, 1834/637) TO A 1/2 INCH IRON ROD FOUND MARKING THE EAST CORNER OF THIS HEREIN DESCRIBED TRACT; THENCE: S 38° 01' 14" W CONTINUING ALONG SAID WEST LINE OF SAID LOT 1R FOR A DISTANCE OF 28.79 FEET (PLAT CALL: S 42° 20' 12" W - 28.81 FEET, 1834/637) TO A 5/8 INCH IRON ROD FOUND MARKING THE NORTHEAST CORNER OF SAID LOT 6R; THENCE: S 38° 27' 52" W ALONG THE NORTH LINE OF SAID LOT 6R FOR A DISTANCE OF 108.85 FEET (PLAT CALL: S 42° 20' 12" W - 108.88 FEET, 1834/637) TO THE POINT OF BEGINNING CONTAINING 0.218 OF AN ACRE OF LAND (9480 SQ. FT.), MORE OR LESS. Exceptions: • Building lines, and any and all easements as reserved on resubdivision plat recorded in Volume 834, Page 637, Official Records of Brazos County, Texas. (Tract 1) • Building lines, and any and all easements as reserved on plat recorded in Volume "Y ", Page 618A, Mechanic's Lien Records of Brazos County, Texas. (Tract 2) • Easement executed by Lydia F. Boriskie to the City of College Station, dated October 28, 1977, recorded in Volume 384, Page 346, Deed Records of Brazos County, Texas. (Tract 1) • Shared Access Agreement executed by Craig and Carol Investments, Ltd., dated November 21, 2010, recorded in Volume 9917, Page 126, Official Records of Brazos County, Texas. (Tract 1) (Note: In this instrument subject property is inadvertently referred to as Lot 6R, Block 1, instead of Lot 6R, Block 2) • Curative Matters: • Deed of Trust executed by Craig & Carol Investments, Ltd., a Texas limited • partnership, to William M. Cook, Trustee for the benefit of North Texas Certified Development Corporation, dated December 30, 2011, recorded in Volume 10488, Page 159, Official Records of Brazos County, Texas (in the amount of $504,000.00); Transfer of Lien executed by North Texas Certified Development Corporation to Small Business Administration, dated December 30, 2011, recorded in Volume 10488, Page 172, Official Records of Brazos County, Texas; Third Party Lender Agreement by and between City Bank -Texas and North Texas Certified Development Corporation, dated December 30, 2011, recorded in Volume 10488, Page 175, Official Records of Brazos County, Texas; Assignment and Subordination of Lease executed by Craig & Carol Investments, Ltd. and AgComp, LLC to North Texas Certified Development Corporation, dated December 30, 2011, recorded in Volume 10488, Page 185, Official Records of Brazos County, Texas. • Financing Statement filed January 9, 2012, recorded in Volume 10488, Page 192, Official Records of Brazos County, Texas, styled AgComp, LLC, Debtor and Small Business Administration, Secured Party. • Deed of Trust executed by Craig & Carol Investments, Ltd., a Texas limited partnership, to Kevin Bass, Trustee, for the benefit of City Bank- Texas, dated April 21, 2011, recorded in Volume 10123, Page 240, Official Records of Brazos County, Texas (in the amount of $612,600.00); Modification of Real Estate Note and Lien by and between Craig and Carol Investments, Ltd., AgComp, LLC dba Systek Computing, Craig Paul, Individually, Carol Shin -Yi Pauli, Individually, Net Perspective, LLC, Craig and Carol Investments Management, LLC and City Bank Texas, dated December 21, 2011, recorded in Volume 10479, Page 255, Official Records of Brazos County, Texas. • • • Deed of Trust executed by Craig & Carol Investments, Ltd., a Texas limited partnership, to Kevin Bass, Trustee for the benefit of City Bank- Texas, dated April 21, 2011, recorded in Volume 10123, Page 255, Official Records of Brazos County, Texas (in the amount of $490,000.00). • Note for informational purposes only Title is vested by virtue to the following: Assumption Warranty Deed with Vendor's Lien executed by Craig Paull and Shin -Yi Tsai to Craig & Carol Investments, Ltd. a Texas limited partnership, dated March 23, 2009, recorded in Volume 9015, Page 16, Official Records of Brazos County, Texas (Tract 1); and Warranty Deed executed by Michael Wayne Thiltgen, individually, dealing in his sole and separate property, and as Independent Executor of the Estate of Lydia F. Boriskie, Deceased, and Virginia B. Hermann, dealing in her sole and separate property, to Craig & Carol Investments, Ltd. a Texas limited partnership, effective December 19, 2011, recorded in Volume 10462, Page 218, Official Records of Brazos County, Texas (Tract 2). THIS REPORT IS ISSUED WITH THE EXPRESS UNDERSTANDING, EVIDENCED BY THE ACCEPTANCE OF SAME, THAT THE UNDERSIGNED, LAWYERS TITLE COMPANY OF BRAZOS COUNTY DOES NOT UNDERTAKE HEREIN TO GIVE OR EXPRESS ANY OPINION AS TO THE VALIDITY OF THE TITLE TO THE PROPERTY ABOVE DESCRIBED, NOR AS TO THE VALIDITY OF ANY OF THE INSTRUMENTS REPORTED HEREIN, INCLUDING THE PURPORTED DEED(S) ESTABLISHING THE RECORD OWNER(S) CITED ABOVE, BUT IS SIMPLY REPORTING BRIEFLY HEREIN, AS TO THE INSTRUMENTS FOUNDS OF RECORD PERTAINING TO THE SUBJECT PROPERTY, AND IT IS EXPRESSLY UNDERSTOOD AND AGREED THAT THIS REPORT IS NEITHER A GUARANTY OR WARRANTY OF THE TITLE. Y ACCEPTANCE OF THIS TITLE REPORT, IT 1S UNDERSTOOD THAT THE LIABILITY OF THE ISSUER HEREOF IS EXPRESSLY LIMITED TO $150.00. THIS SEARCH HAS BEEN LIMITED TO THE ABOVE MATTERS AND THE ABOVE TIME PERIOD AND LAWYERS TITLE COMPANY OF BRAZOS COUNTY HAS NOT SEARCHED FOR, NOR HAS REFLECTED HEREIN, ANY EXAMINATION AS TO TAX SUITS, SPECIAL ASSESSMENTS, CONFLICTS OR OTHER INSTRUMENTS WHICH MAY AFFECT TITLE TO THE SUBJECT PROPERTY. IF TITLE INSURANCE COVERAGE, WHICH IS NOT PROVIDED BY THIS REPORT, IS NEEDED, SAID COVERAGE IS AVAILABLE THROUGH THE APPLICABLE PROMULGATED POLICY(IES), AT THE SPECIFIED PROMULGATED PREMIUM. OFFICIAL PUBLIC. RECORDS OF BRAZOS COUNTY, TEXAS, HAVE BEEN CHECKED THROUGH JANUARY 23, 2011 © 7:00 A.M.. • Lawyers Title Company of Brazos County B 'na L. Long dr