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HomeMy WebLinkAboutTitle Report • • TITLE REPORT GF No.: U123344 Certification Date: July 8, 2012 Examiner: JMP Property Description: Lot Fifteen (15), Block One (1), River Place Subdivision Phase Two, Brazos County, according to plat thereof recorded in Volume 4178, Page 311, of the Official Records of Brazos County, Texas. Title Vested In: James M. Carter and Rebecca L. Carter Vesting Deed to owners shown herein was dated April 15, 2010 and recorded in Volume 9581, Page 33, Official Records, Brazos County, Texas. Subject to: Deed of Trust to secure a Note: Grantor: James M. Carter and Rebecca L. Carter Trustee: Alan L. Tinsley Beneficiary: First National Bank of Huntsville Amount: $60,000.00 Dated: April 15, 2010 Recorded: Volume 9581, Page 37, Official Records, Brazos County, Texas. Restrictions: Volume 4178, Page 311 (on plat); Volume 4204, Page 234 and Volume 9317, Page 152, Official Records, Brazos County, Texas. Exceptions: Easements and Building Lines as shown on plat recorded in Volume 4178, Page 311 of the Official Records of Brazos County, Texas. Easements and Building Lines as set out in restrictions recorded in Volume 4204, Page 234 of the Official Records of Brazos County, Texas. Maintenance Charges and the Lien securing the payment of the same, as set out in restrictions recorded in Volume 4204, Page 234 of the Official Records of Brazos County, Texas. Blanket Easement: From: Anna Bess Reed To: Ferguson- Burleson County Gas Gathering System Dated: May 10, 1993 Recorded: Volume 2206, Page 167, Official Records, Brazos County, Texas. Blanket Easement: From: Lohnie Peters Boyett To: Ferguson - Burleson County Gas Gathering System Dated: March 9, 1993 Recorded: Volume 2257, Page 116, Official Records, Brazos County, Texas. • • Mineral Reservation in Deed: By: Judith K. Conatser, et al To: Robo Investments, Inc. Dated: January 6, 2000 Recorded: Volume 3701, Page 86, Official Records, Brazos County, Texas; As Affected by Surface Waivers: Recorded: Volume 3701, Pages 117, 127, ?37, 147, & 157, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. Royalty Reservation in Deeds: To: Annie McGregor Seeger Dated: 1955 Recorded: Volume 172, Pages 623, 625, 626, 627, 630 & 631, Deed Records of Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Anna Bess Reed Lessee: Kennedy & Mitchell, Inc. Dated: October 6, 1977 Recorded: Volume 29, Page 296, Oil & Gas Lease Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: City National Bank, Trustee Lessee:Kennedy & Mitchell, Inc. Dated: September 16, 1977 Recorded: Volume 29, Page 25, Oil & Gas Lease Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Jack Boyett Lessee:Moon Operating, Inc. Dated: December 7, 1992 Recorded: Volume 1667, Page 263, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: New First City, Texas - Austin, N.A., Trustee Lessee:Moon Operating, Inc. Dated: December 4, 1992 Recorded: Volume 1667, Page 272, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. Upon examination of the public records Brazos County, Texas, we find no exception to title of the subject property other than those shown above. This Title Report is issued with the express understanding, evidenced by acceptance of same, that the liability of the undersigned is limited to the actual monetary consideration paid for same. University Title Company • • TEXAS COMMITMENT FOR TITLE INSURANCE SCHEDULE A Effective Date: July 8, 2012 at 8:00 a.m. GF No. 00121546 Commitment issued July 19, 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: $72,000.00 PROPOSED INSURED: James Montgomery Carter and Rebecca Lynn Carter (b) TEXAS RESIDENTIAL OWNER POLICY OF TITLE INSURANCE - ONE -TO -FOUR FAMILY RESIDENCES (Form T -1R) Policy Amount: $ PROPOSED INSURED: (c) MORTGAGEE POLICY OF TITLE INSURANCE (FORM T -2) Policy Amount: $57,600.00 PROPOSED INSURED: Proposed Borrower: James Montgomery Carter and Rebecca Lynn Carter (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: (1) 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: MPM Brazos River Place Joint Venture University Title Company Title Resources Guaranty 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. 00121546 4. Legal description of land: Lot Fourteen A (14A), Block One (1), River Place Subdivision, Phase Two, Brazos County, according to plat thereof recorded in Volume 4178, Page 311 of the Official Records of Brazos County, Texas. • • SCHEDULE B GF No. 00121546 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 4178, Page 311 (on plat); Volume 4204, Page 234 and Volume 9317, Page 152, 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 Title Resources Guaranty Company Texas Commitment T -7 (Rev. 1 -1 -93) - Schedule B Valid Only if Schedule A, C, D and Cover are attached 410 • SCHEDULE B - continued GF No. 00121546 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 4178, Page 311 of the Official Records of Brazos County, Texas; as modified by partial release of easement in Volume 7941, Page 145, Official Records, Brazos County, Texas. g. Easements and Building Lines as set out in restrictions recorded in Volume 4204, Page 234 of the Official Records of Brazos County, Texas. h. Maintenance Charges and the Lien securing the payment of the same, as set out in restrictions recorded in Volume 4204, Page 234 of the Official Records of Brazos County, Texas. (OWNER POLICY ONLY) i. Blanket Easement: From: Anna Bess Reed To: Ferguson - Burleson County Gas Gathering System Dated: May 10, 1993 Recorded: Volume 2206, Page 167, Official Records, Brazos County, Texas. j. Blanket Easement: From: Lohnie Peters Boyett To: Ferguson- Burleson County Gas Gathering System Dated: March 9, 1993 Recorded: Volume 2257, Page 116, Official Records, Brazos County, Texas. k. Mineral Reservation in Deed: By: Judith K. Conatser, et al To: Robo Investments, Inc. Dated: January 6, 2000 Recorded: Volume 3701, Page 86, Official Records, Brazos County, Texas; • • SCHEDULE B - continued GF No. 00121546 Surface Waivers: Recorded: Volume 3701, Pages 117, 127, 137, 147 & 157, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. 1. Royalty Reservation in Deeds: To Annie McGregor Seeger Dated: 1955 Recorded: Volume 172, Pages 623, 625, 626, 627, 630 & 631, Deed Records of 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: Anna Bess Reed Lessee: Kennedy & Mitchell, Inc. Dated: October 6, 1977 Recorded: Volume 29, Page 296, Oil & Gas Lease 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: City National Bank, Trustee Lessee: Kennedy & Mitchell, Inc. Dated: September 16, 1977 Recorded: Volume 29, Page 25, Oil & Gas Lease 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: Jack Boyett Lessee: Moon Operating, Inc. Dated: December 7, 1992 Recorded: Volume 1667, Page 263, 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: New First City, Texas - Austin, N.A., Trustee Lessee: Moon Operating, Inc. Dated: December 4, 1992 Recorded: Volume 1667, Page 272, 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. 00121546 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 Title Resources Guaranty Company Texas Commitment T -7 (Rev. 1 -1 -93) - Schedule C Valid Only if Schedule A, B, D and Cover are attached • 411 SCHEDULE C - continued GF No. 00121546 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 I: 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 September 24, 2004 and recorded in Volume 6403, Page 153, Official Records, Brazos County, Texas. 15. Record a Partial Release of Deed of Trust to secure a Note: Grantor: MPM Brazos River Place Joint Venture Trustee: James M. Roberson Beneficiary: Texas State Bank Amount: $410,000.00 Dated: February 2, 2005 Recorded: Volume 6514, Page 177, Official Records, Brazos County, Texas. Extension: Dated: March 26, 2009 Recorded: Volume 9053, Page 184, Official Records, Brazos County, Texas. Extension: Dated: May 31, 2011 Recorded: Volume 10220, Page 138, Official Records, Brazos County, Texas. Unisersity Title Company • • SCHEDULE C - continued GF No. 00121546 By: Authorized Countersignature (J \I P /rd1) . • • • SCHEDULE D GF No. 00121546 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. Harmsworth, Parker S. Kennedy, Jeffrey S. Robinson and Timothy V. Kemp Officers: President: Dennis J. Gilmore; Executive Vice President, Chief Financial Officer: Mark J. Harmsworth; Vice President, Secretary: Timothy V. Kemp; and Executive Vice President, Business Director: John M. Hollenbeck. 2. AGENT: UNIVERSITY TITLE COMPANY 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 Vice President - Michael R. Hoelscher William C. Lipsey Secretary/Treasurer - William C. Lipsey Karen McCarroll 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 $ 652.00 Loan Policy $ 100.00 Endorsement Charges $ 152.90 Other $ Total $ 904.90 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.