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HomeMy WebLinkAboutTitle Insurance OWNER'S POLICY OF TITLE INSURANCE (T -1) Issued by Al /rant National Title Any notice of claim and any other notice or statement in writing required to be given the Company under this Policy must be given to the Company at the address shown in Section 18 of the Conditions. SCHEDULE A Name and Address of Title Insurance Company: Alliant National Title 2101 Ken Pratt Blvd., Suite 102 Longmont, CO 80501 File No. 00101506 Policy No. TI 432578 Address Reference: 13889 Renee Lane, College Station, TX 77845 Amount of insurance: S50,000.00 Premium: 5503.0(1 Date of Policy: June 3, 2010 at 2:07 P.M. 1. Name of insured: Bryan Links Management, LLC, a Texas limited liability company 2. The estate or interest in the Land that is encumbered by the Insured Mortgage is: Fee simple 3. Title is insured as vested in: Bryan Links Management, LLC, a Texas limited liability company 4. The Land referred to in this policy is described as follows: See Exhibit A attached hereto and made a part hereof. University Title Company Alliant National Title T1 - Texas Owner's Policy of Title Insurance i • Exhibit A Being a 0.927 acre tract or parcel of land lying and being situated in t ie Robert Stevenson League, Abstract No. 54, Brazos County, Texas and being part of Lot 9 of the Bald Prairie Subdivision as shown on plat recorded in Volume 321, Page 571, Deed Records of Brazos County, Texas, and being more particularly' described as follows: BEGINNING at the iron rod found marking the south corner of the beforementioned Lot 9 in the northeast right -of -way line of Renee Lane; TIIENCE N 45 degrees 27' 28" W along the southwest line of the beforementioned Lot 9, same being the beforementioned northeast right -of -way line of Renee Lane for a distance of 141.28 feet to an iron rod set for the PLACE OF BEGINNING of this 0.927 acre tract of land, said iron rod also being the west corner of a 1.00 acre tract which is a part of the said Lot 9; TIIENCE N 45 degrees 27' 28" W along the beforementioned southwest line of Lot 9, same being the beforementioned northeast right -of -way line of Renee Lane, for a distance of 111.46 feet to an iron rod set for corner at the south corner of a 1.000 acre tract which is a part of the said Lot 9; TIIENCE N 44 degrees 32' 32" E along the southeast line of the beforementioned 1.000 acre tract for a distance of 362.27 feet to an iron rod set for corner in the fence found marking the northeast line of the beforementioned Lot 9, said iron rod also being the cast corner of the said 1.000 acre tract; THENCE S 45 degrees 29' 20" E along the beforementioned northeast lint of Lot 9 for a distance of 111.46 feet to an iron rod set for corner at the north corner of the beforementioned 1.00 acre tract; TIIENCE S 44 degrees 32' 32" W along the northwest line of the beforementioned 1.00 acre tract for a distance of 362.33 feet to the PLACE OF BEGINNING containing 0.927 acres of land, more c r Tess. 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 orerride Item 2 of Schedule B hereof. • • SCHEDULE B File No.: 00101506 Policy No: Tl 432578 EXCEPTIONS FROM COVERAGE This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) that arise by reason of the terns and conditions of the leases and easements, if any, shown in Schedule A, and the following matters: 1. The following restrictive covenants of record itemized below (the Company 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 spou l se of any Insured. 4. Any titles or rights asserted by anyone, including but nat 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 ri_ht of access to that area or easement along and across th it area. 5. Standby fees, taxes and assessments by any taxing authority for the year 2010, and subsequent years; and subsequent taxes and assessments by any taxing authority for prior years due to change in land usage or ownership, but not those taxes or assessments for prior years because of an exemption granted to a previous owner of the property under Section 11.13, Texas Tax Code, or because of improvements not assessed for a previous tax year. 6. The following matters and all terms of the documents creatin €, or offering evidence of the matters (The Company must insert matters or delete this exception): a. Rights of Parties in Possession. b. "All leases, grants, exceptions or reservations of coal, lignite, oil, gas and other minerals, together with all rights, privileges, and immunities relatinf, thereto, appearing in the Public Records whether listed in Schedule 13 or not. There may to leases, grants, exceptions or reservations of mineral interest that are not listed herein." c. Visible and apparent easements. d. Portion of the property within any roadway. e. Any encroachment, encumbrance, violation. variation, or dverse circumstance affecting title that would be disclosed by an accurate and complete land :survey of the land. f. Easements as shown on plat recorded in Volume 321, Page 571 of the Deed Records of Brazos County. Texas. g. Fence lies outside the property on the northwest side of the property, as shown on survey prepared on October 5, 1992, under the supervision of Dorald D. Garrett, R.P.L.S. »2972. University Title Company Alliant National Title TI - Texas Owner's Policy of Title Insurance - . SCHEDULE B File No.: 00101506 Policy No: TI 432578 h. Encroachment of existing 10.1' x 16.1' storage building p. ~otrudes on adjoining lot of the property, as shown on survey prepared on October 5, 1992, under the supervision of Donald D. Garrett, R.P.L.S. 02972. i. Blanket Easement: From: Don Dillon, et al To: Wellborn Water Supply Corporation Dated: October 6, 1965 Recorded: Volume 254. Page 292, Deed Records. Brazos County, Texas. j. Oil and Gas Lease, and all terms, conditions and stipulations therein: Lessor: Lillian R. Bockris Lessee: Baker Exploration Company Dated: June 11, 1991 Recorded: Volume 1285, Page 335, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. University Title Company By: � . _ t. 'Authorized Countersignature • • • TEXAS COMMITMENT FOR TITLE INSURANCE SCHEDULE A Effective Date: August 18, 2010 at 8:00 a.m. GF No. 00101941 Commitment issued August 31, 2010, 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 residen iay real estate) Policy Amount: $21, PROPOSED INSURED: Bryan Links Management, LLC or its Assigns (b) TEXAS RESIDENTIAL OWNER POLICY OF TITLE INSURANCE - ONE -TO -FOUR FAMILY RESIDENCES (Form T -1 R) Policy Amount: $ PROPOSED INSURED: (c) MORTGAGEE POLICY OF TITLE INSURANCE (FORM T -2) Policy Amount: $13,068.00 PROPOSED INSURED: Proposed Borrower: Bryan Links Management, 4C or its Assigns (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: Greg C. Bramson and Theresa L. Bramson University Title Company Fidelity National 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. 00101941 4. Legal description of land: See Exhibit A attached hereto and made a ,part hereof. , , SCHEDULE B GF No. 00101941 EXCEPTIONS FROM COVERAGE In addition to the Exclusions and Conditions and Stipulations, your Policy will not cover Toss, 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 2010, and subsequent years, and subsequent taxes and assessments by any taxing authority for prior years due to change in land usage or ownership, but not those taxes or assessments for prior years because of an exemption granted to a previous owner of the property under Section 11.13, Texas Tax Code, or because of improvements not assessed for a previous tax year. (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 performedin 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 exceptions 1 through 8 of this Schedule B do not apply to the Texas Short Form Residential Mortgagee Policy (T- 2R). University Title Company Fidelity National Title Insurance Company Texas Commitment (Rev. 1 -1 -93) - Schedule 13 Valid Only if Schedule A and C, and Cover are attached I(`t��1l1��1 i1 f `� \` • y 0 • SCHEDULE B _ continued GF No. 00101941 10. The following matters and all terms of t p documents cleating or offering evidence of the matters (We must insert matters or delete this exception): ' • 3 ' ' • tit a. Rights of Parties in Possession. (OS.k'NER 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." 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 as shown on plat recorded in Volume321, Page 571 of the Deed Records of Brazos County, Texas. g. Blanket Easement: From: Don Dillon, et al To: Wellborn Water Supply Corporation Dated: October 6, 1965 Recorded: Volume 254, Page 292-„Deed Records - ;,Brazos County,.Texas. • r. h. Oil and Gas Lease, and all terms,. conditions and stipulations therein: Lessor: O. J. Beard, Jr., et al Lessee: Texas Refining Inc.' ' Dated: February 14, 1997 Recorded: Volume 2900, Page 276, Official Records, Brazos County, Texas. Title to said interest has not been investigated subsequent to the date of the aforesaid instrument. r ra). • 1/4.)(4 • • SCHEDULE C GF No. 00101941 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 andmust be signed, notarized and filed for record. 2. Satisfactory evidence must be provided that: - no person occupying the land taims any. interest; in'that-land against the persons named in paragraph 3 of Schedule A, .4 - 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 and subseiluir if'years; but net those taxes or assessments for prior years because of an exemption granted to a previous owner cf;the property under Section 11.13, Texas Tax Code, or because of improvements not assessed for a previoustax 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 "forthe 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. 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. 9. 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. 10. 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 Lis know if we need toorder the tax certificate.) 11. ARBITRATION: The Owner Policy of Title Insurance (Form T-1) and the Mortgagee Policy`of Title Insurance (Form T-2) contain an University Title Company : • i Fidelity National Title Insurance Company Texas Commitment (Rev. 1 -1 -93) • Schedule C ! ;,j.Y Valid Only if Schedule A and B, and Cover are attached • • SCHEDULE C - continued GF No. 00101941 arbitration provision. It allows the Insured or the Company to require arbitration if the am unt 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 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. 12. 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. 13. Twenty-four Month Chain of Title: We have examined the records of the County Clerk of Brazos County, Texas, as they are reflected in the geographically indexed title plant of University Title Company and our records reflect that tia following is a true and correct 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 June 29, 2000 and recorded in Volume 3857, Page 112, Official Records, Brazos County, Texas. 14. Record a Release of Home Equity Deed of Trust/Mortgage: Maker: Greg C. Bramson and Theresa L. Bramson Trustee: Jerry. Baker Lender: First Horizon Home Loan Corporation Amount: $129,000.00 Dated: April 22, 2004 Recorded: Volume 6001, Page 20; Official Records, Brazos County; Texas. Said lien being assigned to MetLife Hon* Loans-by As &ignment: Dated: July 27, 2008 Recorded: Volume 8810, Page F74 :Official Records, Brazos County, Texas. 15. The following matters are found of record involving names similar to parties to the proposed transaction: Abstract of Judgment: Styled: Citibank (South Dakota), N.A. vs. Theresa Bramson Cause No.: 09- 003206- CV -CCL2 Dated: February 5, 2010 Amount: $3,794.30, together with interest and fees. Recorded: Volume 9514, Page 48, Official Records, Brazos County, Texas. Company requires a full release, or satisfactory proof that the party named in said instrument(s) is/are not the same party as Theresa L. Bramson, the seller. Lpftab • • SCHEDULE 'C continued GF No. 00101941 16. Proper cancellation of GF Number 93.194, currently active on the same property shown under Schedule A. University Title Company By: ° t Authorized Countersignature peUrdf) ti Vii: . 1 SCHEDULE D GF No. 00101941 Pursuant to the requirements of Rule P -21, Basic Manual of Rules,' 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. Grealish Executive Vice President Anthony J. Park Chief Financial Officer Patrick G. Farenga 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 oldie Title Insurance Agent that will receive a portion of the premium are as follows: Celia Goode William C. Lipsey Michael R. Hoelscher 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 President - Celia Goode j; n • Celia Goode Vice President - Michael R. Hoelscher + • ; Michael R. Hoelscher Secretary/Treasurer - William C. Lipsey i 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 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 $ 312.00 Mortgagee Policy $ 100.00 Endorsement Charges $ 137.70 Total $ 549.70 University Title Company Fidelity National Title Insurance Company Texas Commitment (Rev. 1 -1 -93) - Schedule D Valid Only if Schedule A, $ and C, and Cover are attached #40 • • SCHEDULE D GF No. 00101941 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. This Commitment is invalid unless the insuring provisions and Schedules A, B and C are attached. • University Title Company Fidelity National Title Insurance Company Texas Commitment (Rev. I -1 -93) - Schedule D Valid Only if Schedule A, B and C, and Cover are attached • • 1 i. . Exhibit A Being all that certain 1.00 acre tract of land being situated in Robert Stevenson League, Abstract 54, Brazos County, Texas, and being the Northwest part of Lot 9 of Bald Prairie Subdivision, according to Plat recorded in Volume 321, Page 571 Deed Records, Brazos County, Texas and being more fully described as follows: BEGINNING at a 5/8" iron rod found marking the North corner of said Lot 9; THENCE S 45 degrees 23'36" E along the Northeast line of said Lot 9 for a distance of 120.21' to 5/8" iron rod found for corner; THENCE S 44 degrees 25'14" W across said Lot 9 for a distance of 362.11' to a 5/8" iron rod found for corner in the Southwest line of said Lot 9, same being the Northeast Right -of -Way (ROW) of Renee Lane; THENCE N 45 degrees 27'28" W along the said Southwest line of the Lot 9, same being the Northeast ROW line of Renee Lane for a distance of 120.30' to a 5/8" iron rod found for corner marking the West corner of said Lot 9; THENCE N 44 degrees 26'06" E along the Northwest line of said Lot 9 for a distance of 362.25' to the Point of Beginning and containing 1.000 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. t . i} I • if.