Loading...
HomeMy WebLinkAboutTitle Insurance 1 0 0\03 TEXAS COMMITMENT FOR TITLE INSURANCE 00 SCHEDULE A Effective Date: February 7. 2012 at 8:00 a.m. GF No. 00120708 Commitment issued February 21, 2012, 8:00 a.m. 1. The policy or policies to be issued are: (a) OWNER POLICY OF'ITILE INSURANCE (Form T -1) (Not applicable for improved one- to-four family residential real estate) Policy Amount: $ PROPOSED INSURED: CRT, LLC and /or Assigns (b) TEXAS RESIDENTIAL OWNER POLICY OF 1T1LE INSURANCE - ONE -TO -FOUR FAMILY RESIDENCES (Form T -1R) Policy Amount: $ PROPOSED INSURED: (c) MORTGAGEE POLICY OF '1'I1LE INSURANCE (FORM T -2) Policy Amount: $ PROPOSED INSURED: Proposed Borrower: (d) TEXAS SHORT FORM RESIDENTIAL MORTGAGEE POLICY (Form T -2R) Policy Amount: $ PROPOSED INSURED: Proposed Borrower. (e) MORTGAGEE 'TILE 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: Jill Mary Dunlap, Independent Executrix of the Estate of Wayne Alan Dunlap, Deceased and as Trustee of the Dunlap Family Trust; Beverly J. Furrer; Patricia J. Vogel and Thomas L. Brown, Jr. University Title Company First American Title Insurance Company Texas Commitment (Rev. 1 -1 -93) - Schedule A Valid Only if Schedule B and C, and Cover are attached • • SCHEDULE A - continued GF No. 00120708 4. Legal description of land: See Exhibit A attached hereto and made a part hereof. . . SCHEDULE B GF No. 00120708 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): Item No. 1, Schedule B, is hereby deleted. 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.) 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 University Title Company First American Title Insurance Company Texas Commitment (Rev. 1 -1 -93) - Schedule B Valid Only if Schedule A and C, and Cover are attached • • SCHEDULE B - continued GF No. 00120708 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. Easement: From: Wayne A. Dunlap, et al To: City of College Station Dated: August 15, 2005 Recorded: Volume 6918, Page 231, Official Records, Brazos County, Texas. g. Easement: From: Thomas L. Brown, et al To: City of College Station Dated: December 23, 2009 Recorded: Volume 9461, Page 93, Official Records, Brazos County, Texas. h. Blanket Easement: From: Wayne A. Dunlap, et al To: Wellborn Water Supply Corp. Dated: January 12, 1972 Recorded: Volume 303, Page 296, Deed Records, Brazos County, Texas. i. Blanket Easement: From: Wayne A. Dunlap, et al To: City of Bryan Dated: February 17, 1976 Recorded: Volume 350, Page 130, Deed Records, Brazos County, Texas. j. Blanket Easement: From: Wayne A. Dunlap, et al To: City of Bryan Dated: March 31, 1981 Recorded: Volume 479, Page 267, Deed Records, Brazos County, Texas. • SCHEDULE B - continued GF No. 00120708 k. Royalty Reservation in Deed: 13y: Mrs. Verna F. Barron To: James L. Gilliam Dated: August 5, 1957 Recorded: Volume 183, Page 569, Deed Records of Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. I. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor Ronald Furrer, et ux Lessee: Edco Energy, Inc. Dated: October 21, 1991 Recorded: Volume 1379, Page 90, 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: Thomas L. Brown, et ux Lessee: Edco Energy, Inc. Dated: October 21, 1991 Recorded: Volume 1393, Page 184, 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: Wayne A. Dunlap, et ux Lessee: Edco Energy, Inc. Dated: October 21, 1991 Recorded: Volume 1674, Page 156, 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: Richard F. Vogel, et ux Lessee: Edco Energy, Inc. Dated: October 21, 1991 Recorded: Volume 1674, Page 161, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. • • SCHEDULE C GF No. 00120708 Your policy will not cover loss, costs, attorney's fees, and expenses resulting from the following requirements that will appear as Exceptions in Schedule B of the Policy, unless you dispose of these matters to our satisfaction, before the date the Policy is issued: 1. Documents creating your title or interest must be approved by us and must be signed, notarized and filed for record. 2. Satisfactory evidence must be provided that: - no person occupying the land claims any interest in that land against the persons named in paragraph 3 of Schedule A, - all standby fees, taxes, assessments and charges against the property have been paid, - all improvements or repairs to the property are completed and accepted by the owner, and that all contractors, sub - contractors, laborers and suppliers have been fully paid, and that no mechanic's, laborer's or materialmen's liens have attached to the property, - there is legal right of access to and from the land, - (on a Mortgagee Policy only) restrictions have not been and will not be violated that affect the validity and priority of the insured mortgage. 3. You must pay the seller or borrower the agreed amount for your property or interest. 4. Any defect, lien or other matter that may affect title to the land or interest insured, that arises or is filed after the effective date of this Commitment. 5. Item No. 2 of Schedule B hereof shall be amended to read "shortages in area ", upon our receipt of an acceptable survey. (As to Mortgagee Policy Only) 6. Item No. 5 of Schedule B hereof shall be amended to read "standby fees, taxes and assessments by any taxing authority for the year 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 & T19 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. University Title Company First American Title Insurance Company Texas Commitment (Rev. 1 -1 -93) - Schedule C Valid Only if Schedule A and B, and Cover are attached 411 411 SCHEDULE C - continued GF No. 00120708 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.) 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 $2,000,000 or less. If the Insured wants to retain the right to sue the Company in case of a dispute over a claim, the Insured must request deletion of the arbitration provision before the Policy is issued. The Insured may do this by signing the Deletion of Arbitration Provision form and returning it to the Company at or before the closing of the real estate transaction or by writing to the Company. NOTE 1: If you are the lender in the transaction and desire deletion of the Arbitration Provision , please inform us through your loan closing instructions. NOTE 2: This does not apply to Texas Residential Owner Policy of Title Insurance - One to Four Family Residences. If you are the purchasers of non - residential property and desire the deletion of the Arbitration Provision, a form will be presented to you at closing for execution. 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 list of DEEDS affecting title to the real property described supra for the preceding twenty-four months: None of Record Vesting Deed to owners shown herein was dated January 6, 1986 and recorded in Volume 854, Page 57, Official Records, Brazos County, ty, Texas. Prior deed is dated January 8, 1970 and recorded in Volume 283, Page 382, Deed Records, Brazos County, Texas. 15. "We have been advised that a party vested in title has died after March 1, 2005. We must be furnished evidence that Wayne A. Dunlap did not receive Medicaid funds after March 1, 2005, which might result in a lien by the State of Texas filed under the Medicaid Estate Recovery Program (MERP) against the property, or that no lien under MERP will be filed. If a Notice of Intent to File a Claim is filed, a release from the State of Texas and proof of payment is required." 16. Contract advises that property is to be platted prior to closing. We reserve the right to make additional requirements after reviewing said plat. 17. Furnish the marital status of Jill Mary Dunlap. Company requires the joinder of spouse(s) in any transaction involving subject property. University Title Company • • SCHEDULE C - continued GF No. 00120708 By: Authorized Countersignature (Ihj /rdf) SCHEDULE D GF No. 00120708 Pursuant to the requirements of Rule P -21, Basic Manual of Rules, Rates and Forms for the writing of Title Insurance in the State of Texas, the following disclosures are made: 1. The following individuals are Directors and/or Officers of FIDELITY NATIONAL TITLE INSURANCE COMPANY: DIRECTORS OFFICERS Alan L. Stinson Alan L. Stinson Chief Executive Officer /C.E.O Raymond R. Quirk Raymond R. Quirk President Anthony J. Park Joseph W. Owlish Executive Vice President Anthony J. Park Chief Financial Officer Patrick G. Faren ga Sr. Vice President/Treasurer Todd C. Johnson Sr. Vice President/Secretary Fidelity National Financial, Inc. owns 100% of Fidelity National Title Insurance Company. 2. The following disclosures are made by the Title Insurance Agent Issuing this Commitment a. The names of each shareholder, owner, partner or other person having, owning or controlling one percent (1%) or more of the Title Insurance Agent that will receive a portion of the premium are as follows: Celia Goode- Haddock William C. Lipsey Michael R. Hoelscher Karen McCarroll b. Each 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 that will receive a portion of the premium are as follows: 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/COO - 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 Joseph Poteet 3. You are entitled to receive advance disclosure of settlement charges in connection with the proposed transaction to which this commitment relates. Upon your request, such disclosure will be made to you. Additionally, the name of any person, firm or corporation receiving any sum from the settlement of this transaction will be disclosed on the closing or settlement statement. You are further advised that the estimated title premium* is: Owner Policy $ Mortgagee Policy $ Endorsement Charges $ _ Total $ University Title Company First American Title Insurance Company Texas Commitment (Rev. 1 -1 -93) - Schedule D Valid Only if Schedule A, 13 and C, and Cover are attached 1 • • SCHEDULE D GF No. 00120708 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 famished 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. This Commitment is invalid unless the insuring provisions and Schedules A, B and C are attached. University Title Company First American Title Insurance Company Texas Commitment (Rev. 1 - - 93) - Schedule D Valid Only if Schedule A, B and C, and Cover are attached • Exhibit A 1.19 acres being a part of the following: Field notes of a 3.19 acre tract or parcel of land, lying and being situated in the Robert Stevenson Survey, Abstract No. 54, College Station, Brazos County, Texas, and being part of the called 154 acre (net) tract described in the deed from Florence A. Brown to Beverly J. Furrer, Patricia J. Vogel and Thomas L. Brown, Jr., as recorded in Volume 854, Page 57, of the Official Records of Brazos County, Texas, and being also described as 158 acres in the deed from D. Brooks Cofer, Jr. and Don Dillon to Wayne A. Dunlap and Thomas L. Brown as recorded in Volume 283, Page 382, of the Deed Records of Brazos County, Texas, and said 3.19 acre tract being more particularly described as follows: COMMENCING at the north corner of the beforementioned 158 acre tract in the center of Barron Road (County Road now in College Station - formerly known as Wellborn - Rock Prairie Public Road), from which a crosstie fence corner at the intersection of the northeast line of the 158 acre tract with the southeast line of Barron Road bears S 46° 02' 08" E - 26.21 feet, and a crosstie fence corner marking the east corner of the 158 acre tract bears S 46" 02' 08" E - 3422.41 feet; THENCE S 44 02' 45" W along the northwest line of the beforementioned 158 acre tract, sante being along the centerline of the existing pavement (September, 2008), of Barron Road for a distance of 733.33 feet; THENCE S 45 57' 15" E through the interior of the beforementioned 158 acre tract, and across Barron Road. for a distance of 51.55 feet to a 5/8" iron rod found in the existing southeast right -of -way line of Barron Road (90' wide right -of -way), for the PLACE OF BEGINNING of this description, same being the northerly west corner of Block 2 of Sonoma - Phase I, according to the plat recorded in Volume 8305, Page 233, of the Official Records of Brazos County, Texas; THENCE through the interior of the beforementioned 158 acre tract, and along the lines of the beforementioned Sonoma - Phase 1, and Sonoma - Phase 2. as platted in Volume 8502, Page 285, of the Official Records of Brazos County, Texas, as follows: S 45" 57' 15" E at a distance of 10.3 feet, a wood fence post corner bears northeast - 0.4 feet continue on, adjacent to a fence, for a total distance of 348.45 feet to a V2" iron rod found at a wood fence post corner, S 44" 02' 45" W adjacent to a fence, for a distance of 381.68 feet to a %" iron rod found in the northeast right of way line of State Highway No. 40, from which a concrete monument with brass disc found bears S 55° 16' 58" E - 532.93 feet; TIIENCE along the northeast right of way line of the beforementioned State Highway No. 40, adjacent to a fence, as follows: N 55° 16' 58" W for a distance of 58.96 feet to a concrete monument with brass disc found, N 49 04' 54" W for a distance of 124.28 feet to a concrete monument with a brass disc found, N 50° 01' 33" W for a distance of 116.85 feet to a' /2" iron rod found marking the south corner of a called 661 square foot tract taken for Barron Road right -of -way described in the deed recorded in Volume 9626, Page 258, of the Official Records of Brazos County, Texas, same being the beginning of a transition curve to Barron Road, concave to the east, having a radius of 50.00 feet, from which a concrete monument found bears N 50° 01' 33" W - 14.56 feet; THENCE along the southeast right -of -way line of Barron Road, as follows: • Northerly along said curve, for an arc length of 82.64 feet to a ''A" iron rod found at the end of this curve, the chord bears N 02° 40' 27" W - 73.55 feet, N 44° 40' 39" E for a distance of 355.91 feet to the PLACE OF BEGINNING, containing 3.19 acres of land, more or less. NOTE: The Company is prohibited from insuring the area or quantity of the land described herein. Any statement in the above legal description of the area or quantity of land is not a representation that such area or quantity is correct, but is made only for informational and /or identification purposes and does not override Item 2 of Schedule B hereof.