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GF No. 143866A
CERTIFICATE
THE STATE OF TEXAS §
COUNTY OF BRAZOS §
BRAZOS COUNTY ABSTRACT COMPANY does hereby certify that we have
examined the records in the office of the Clerk of the County Court of Brazos County,
Texas, affecting the title to the said property described below from January 15, 2008;
All that certain tract or parcel of land, lying and being situated in the J. W. SCOTT
LEAGUE, ABSTRACT NO. 49, College Station, Brazos County, Texas. Said tract being
a portion of the remainder of a called 113.67 acre tract as described by a deed to
Carrara Partnership recorded in Volume 586, page 488 of the Deed Records of Brazos
County, Texas, all of a called 2.00 acre tract as described by a deed to Edward H.
Harte or Houston H. Harte or Joanne Bennett recorded in Volume 507, page 563 of the
deed records of Brazos County, Texas, and all of a called 2.00 acre tract as described
by a deed to Edward H. Harte or Houston H. Harte or Joanne Bennett recorded In
Volume 507, page 568 of the Deed Records of Brazos County, Texas.
said tract being more particularly described by metes and bounds as follows:
BEGINNING: at a' /2 inch iron rod found on the northwest line of State Highway No. 30
(120' R.O.W.) marking the south corner of said remainder of 113.67 acre tract and the
east corner of a called 192.64 acre tract described as exhibit "A" by a deed to College
Main Apartments, Ltd., recorded in Volume 3687, page 258 of the Official Public
Records of Brazos County, Texas;
THENCE: N 47° 03' 20" W along the common line of said remainder of 113.67 acre
tract and said 192.64 acre tract for a distance of 1346.50 feet to a 1 /2 inch iron rod
found marking the most westerly comer of said remainder of 113.67 acre tract and the
south corner of a called 46.19 acre tract as described by a deed to Diane Peters, E.
Duane Peters and Patricia Kay Peters recorded in Volume 223, page 111 of the Deed
Records of Brazos County, Texas;
THENCE: N 41° 39' 43" E along the common line of said remainder of 113.67 acre
tract and said 46.19 acre tract for a distance of 1146.61 feet to a' /z inch iron rod found
marking the east corner of said 46.19 acre tract and an interior west corner of said
remainder of 113.67 acre tract;
THENCE: N 45° 47' 51" W continuing along the common line of said remainder of
113.67 acre tract and said 46.19 acre tract for a distance of 593.53 feet to a' /2 inch iron
rod found marking the south corner of a called 35.91 acre tract as described by a deed
to Robert Henry Conaway, Jr., recorded in Volume 2864, page 51 of the Official Public
Records of Brazos County, Texas, said iron rod found marking the west corner of said
second 2.00 acre tract (507/568), same being the original most northerly west corner
of said 113.67 acre tract;
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THENCE: N 42° 09' 39" E along the common line of said 2.00 acre tracts (507/568 and
507/563), said remainder of 113.67 acre tract and said 35.91 acre tract for a distance
of 1282.80 feet to a 1 /2 inch iron rod found marking the north corner of said remainder
of 113.67 acre tract and the west corner of the remainder of a called 15.379 acre tract
as described by a deed to Joyce Peters Bell recorded in Volume 297, page 252 of the
Deed Records of Brazos County, Texas;
THENCE: S 46° 10' 45" E along the common line of said remainder of 113.67 acre tract
and said remainder of 15.379 acre tract for a distance of 1172.52 feet to a 5/8 inch iron
rod found marking an interior north corner of said remainder of 113.67 acre tract and
the south corner of the remainder of a called 11.424 acre tract as described by a deed
to Joyce A. Devaney, Trustee, recorded in Volume 2584, page 225 of the Official Public
Records of Brazos County, Texas;
THENCE: N 41° 57' 03" E along the common line of said remainder of 113.67 acre
tract and said remainder of 11.424 acre tract for a distance of 602.23 feet to a % inch
iron rod found marking an east corner of said remainder of 11.424 acre tract;
THENCE: N 72° 47' 26" W continuing along the common line of said remainder of
113.67 acre tract and said remainder of 11.424 acre tract for a distance of 220.45 feet
to a 1 /2 Inch iron rod found marking an Interior east corner of said remainder of 11.424
acre tract;
THENCE: N 30° 07' 18" E continuing along the common line of said remainder of
113.67 acre tract and said remainder of 11.424 acre tract for a distance of 274.69 feet
to a brass right -of -way marker found on the existing south line of FM 158 marking the
northeast corner of said remainder of 11.424 acre tract;
THENCE: S 78° 58' 02" E along the south line of FM 158 for a distance of 180.05 feet
to a brass right -of -way marker found marking an angle point in said line;
THENCE: S 73° 52' 00" E continuing along the south line of FM 158 for a distance of
204.62 feet to a 5/8 inch iron rod set marking the most northerly east corner of this
herein described tract, for reference a bras right -of -way marker found bears: S 73°
52' 00" E for a distance of 111.16 feet;
THENCE: through said remainder of 113.67 acre tract for the following calls:
S 41° 46' 43" W for a distance of 291.94 feet to a 5/8 inch iron rod set;
S 89° 47' 28" W for a distance of 85.00 feet to a 5/8 inch iron rod set;
S 41° 57' 03" W for a distance of 612.10 feet to a 5/8 inch iron rod set;
S 46° 10' 45" E for a distance of 336.59 feet to a 5/8 inch Iron rod set;
N 78° 17' 11" E for a distance of 358.88 feet to a 5/8 inch iron rod set;
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S 48° 48' 29" E for a distance of 263.84 feet to a 5/8 inch iron rod set on the northwest
line of State Highway No. 30 marking the most southerly east corner of this herein
described tract, for reference a' /2 inch iron rod found marking an east corner of said
remainder of 113.67 acre tract and the south corner of a called 1.88 acre tract
described as tract 2 by a deed to Brazos Super Trac, Inc. recorded in Volume 3644,
page 256 of the Official Public Records of Brazos County, Texas, bears: N 45° 18' 20"
E for a distance of 333.00 feet;
THENCE: S 45° 18' 20" W along the northwest line of State Highway No. 30 for a
distance of 738.60 feet to a' /z inch iron rod found marking the beginning of a curve
to the left having a radius of 5789.58 feet;
THENCE: along said curve through a central angle of 02° 58' 11" for an arc distance
of 300.07 feet (chord bears: S 43° 49' 15" W - 300.04 feet) to a 1 /2 inch iron rod found
marking the ending point of said curve;
THENCE: S 42° 20' 10" W continuing along the northwest line of State Highway No.
30 for a distance of 1681.59 feet to the POINT OF BEGINNING containing 98.202 acres
of land, more or less.
We find the following actions or conveyances affecting the title to said land (specifically
excluding any conveyances respecting mineral estate) through June 30, 2008 @ 8 :00 A.M.:
Temporary Blanket Utility Easement from The Summit Crossing, LLC to City of
College Station, Texas, dated February 19, 2008, recorded in Volume 8460, page
24, Official Records of Brazos County, Texas.
We do not certify as to property taxes.
This certificate is for informational purposes only and the information contained herein
shall not be relied on in the issuance of any title insurance policy. The liability of Brazos
County Abstract Company in this connection is limited to $00.00, being the charge
made for this certificate.
WITNESS OUR HAND at College Station, Texas, this the 1st day of July, 2008.
BRAZOS COUNTY ABSTRACT COMPANY
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/'NE VAN ETTEN
Premium: $1,761.00 • 3250, 0710 P -
STEWART TITLE GUARANTY COMPANY
SCHEDULE A
File No.: 143866A Policy No.: M- 5842 - 879485
Issued With: 0- 5841 - 257881
AMOUNT OF INSURANCE: $1,000,000.00
DATE OF POLICY: August 22, 2006 at 03:44 AM
1. NAME OF INSURED:
THE BRENHAM NATIONAL BANK, and each successor in ownership of the indebtedness secured by
the insured mortgage, except a successor who is an obligor under the provisions of Section 12(c) of the
Conditions and Stipulations.
2. THE ESTATE OR INTEREST IN THE LAND THAT IS INSURED AS ENCUMBERED BY THE INSURED
MORTGAGE IS:
FEE SIMPLE
3. TITLE TO THE ESTATE OR INTEREST IN THE LAND IS INSURED AS VESTED IN:
THE SUMMIT CROSSING, LLC
4. THE INSURED MORTGAGE AND ASSIGNMENTS THEREOF, IF ANY, ARE DESCRIBED AS
FOLLOWS:
Vendor's Lien retained in Deed dated August 17, 2006, executed by Jimmy Easterly to The Summit
Crossing, LLC, securing the payment of one note of even date therewith in the principal amount of
$1,000,000.00, payable to The Brenham National Bank, and said note being additionally secured by
deed of trust, security agreement, fixtures, financing statement, and assignment of rents of even date
therewith to Michael R. Rudloff, Trustee, said Deed of Trust filed for record in the Office of the County
Clerk of Brazos County, Texas, on August 24, 2006, under Clerk's File No. 938466 and recorded In
Volume 7545, page 1, Official Records of Brazos County, Texas, and being subject to all of the terms,
conditions and stipulations contained in said note and deed of trust.
5. THE LAND REFERRED TO IN THIS POLICY IS DESCRIBED AS FOLLOWS:
All that certain tract or parcel of land, Tying and being situated in the J. W. SCOTT LEAGUE, ABSTRACT
NO. 49, College Station, Brazos County, Texas. Said tract being a portion of the remainder of a called
113.67 acre tract as described by a deed to Carrara Partnership recorded In Volume 586, page 488 of
the Deed Records of Brazos County, Texas, all of a called 2.00 acre tract as described by a deed to
Edward H. Harte or Houston H. Harte or Joanne Bennett recorded in Volume 507, page 563 of the deed
records of Brazos County, Texas, and all of a called 2.00 acre tract as described by a deed to Edward
H. Harte or Houston H. Harte or Joanne Bennett recorded in Volume 507, page 568 of the Deed Records
of Brazos County, Texas.
BRAZOS COUNTY ABSTRACT COMPANY
uthorized Signature
a •
STEWART TITLE GUARANTY COMPANY
SCHEDULE A
File No.: 143866A (Continued) Policy No.: M- 5842 - 879485
said tract being more particularly described by metes and bounds as follows:
BEGINNING: at a 1/2 inch iron rod found on the northwest line of State Highway No. 30 (120' R.O.W.)
marking the south corner of said remainder of 113.67 acre tract and the east corner of a called 192.64
acre tract described as exhibit "A" by a deed to College Main Apartments, Ltd., recorded in Volume 3687,
page 258 of the Official Public Records of Brazos County, Texas;
THENCE: N 47° 03' 20" W along the common line of said remainder of 113.67 acre tract and said
192.64 acre tract for a distance of 1346.50 feet to a' /2 inch iron rod found marking the most westerly
corner of said remainder of 113.67 acre tract and the south corner of a called 46.19 acre tract as
described by a deed to Diane Peters, E. Duane Peters and Patricia Kay Peters recorded in Volume 223,
page 111 of the Deed Records of Brazos County, Texas;
THENCE: N 41° 39' 43" E along the common line of said remainder of 113.67 acre tract and said 46.19
acre tract for a distance of 1146.61 feet to a /2 inch iron rod found marking the east comer of said 46.19
acre tract and an interior west corner of said remainder of 113.67 acre tract;
THENCE: N 45° 47' 51" W continuing along the common line of said remainder of 113.67 acre tract and
said 46.19 acre tract for a distance of 593.53 feet to a 1/2 inch iron rod found marking the south corner
of a called 35.91 acre tract as described by a deed to Robert Henry Conaway, Jr., recorded in Volume
2864, page 51 of the Official Public Records of Brazos County, Texas, said iron rod found marking the
west corner of said second 2.00 acre tract (507/568), same being the original most northerly west corner
of said 113.67 acre tract;
THENCE: N 42° 09' 39" E along the common line of said 2.00 acre tracts (507/568 and 507/563), said
remainder of 113.67 acre tract and said 35.91 acre tract for a distance of 1282.80 feet to a /2 inch iron
rod found marking the north corner of said remainder of 113.67 acre tract and the west corner of the
remainder of a called 15.379 acre tract as described by a deed to Joyce Peters Bell recorded in Volume
297, page 252 of the Deed Records of Brazos County, Texas;
THENCE: S 46° 10' 45" E along the common line of said remainder of 113.67 acre tract and said
remainder of 15.379 acre tract for a distance of 1172.52 feet to a 5/8 inch iron rod found marking an
interior north corner of said remainder of 113.67 acre tract and the south corner of the remainder of a
called 11.424 acre tract as described by a deed to Joyce A. Devaney, Trustee, recorded in Volume 2584,
page 225 of the Official Public Records of Brazos County, Texas;
THENCE: N 41° 57' 03" E along the common line of said remainder of 113.67 acre tract and said
remainder of 11.424 acre tract for a distance of 602.23 feet to a /2 inch iron rod found marking an east
corner of said remainder of 11.424 acre tract;
THENCE: N 72° 47' 26" W continuing along the common line of said remainder of 113.67 acre tract and
said remainder of 11.424 acre tract for a distance of 220.45 feet to a /2 inch iron rod found marking an
interior east corner of said remainder of 11.424 acre tract;
THENCE: N 30° 07' 18" E continuing along the common line of said remainder of 113.67 acre tract and
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STEWART TITLE GUARANTY COMPANY
SCHEDULE A
File No.: 143866A (Continued) Policy No.: M- 5842 - 879485
said remainder of 11.424 acre tract for a distance of 274.69 feet to a brass right -of -way marker found
on the existing south line of FM 158 marking the northeast corner of said remainder of 11.424 acre tract;
THENCE: S 78° 58' 02" E along the south line of FM 158 for a distance of 180.05 feet to a brass right -of-
way marker found marking an angle point in said line;
THENCE: S 73° 52' 00" E continuing along the south line of FM 158 for a distance of 204.62 feet to a
5/8 inch iron rod set marking the most northerly east corner of this herein described tract, for reference
a bras right -of -way marker found bears: S 73° 52' 00" E for a distance of 111.16 feet;
THENCE: through said remainder of 113.67 acre tract for the following calls:
S 41° 46' 43" W for a distance of 291.94 feet to a 5/8 inch iron rod set;
S 89° 47' 28" W for a distance of 85.00 feet to a 5/8 inch iron rod set;
S 41° 57' 03" W for a distance of 612.10 feet to a 5/8 inch iron rod set;
S 46° 10' 45" E for a distance of 336.59 feet to a 5/8 inch iron rod set;
N 78° 17' 11" E for a distance of 358.88 feet to a 5/8 inch iron rod set;
8 48° 48' 29" E for a distance of 263.84 feet to a 5/8 inch iron rod set on the northwest line of State
Highway No. 30 marking the most southerly east corner of this herein described tract, for reference a
1/2 inch iron rod found marking an east comer of said remainder of 113.67 acre tract and the south comer
of a called 1.88 acre tract described as tract 2 by a deed to Brazos Super Trac, Inc. recorded in Volume
3644, page 256 of the Official Public Records of Brazos County, Texas, bears: N 45° 18' 20" E for a
distance of 333.00 feet;
THENCE: S 45° 18' 20" W along the northwest line of State Highway No. 30 for a distance of 738.60
feet to a 1 /2 inch iron rod found marking the beginning of a curve to the left having a radius of 5789.58
feet;
THENCE: along said curve through a central angle of 02° 58' 11" for an arc distance of 300.07 feet
(chord bears: S 43° 49' 15" W - 300.04 feet) to a %2 inch iron rod found marking the ending point of said
curve;
THENCE: S 42° 20' 10" W continuing along the northwest line of State Highway No. 30 for a distance
of 1681.59 feet to the POINT OF BEGINNING containing 98.202 acres of land, more or less.
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STEWART TITLE GUARANTY COMPANY
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SCHEDULE B
File No.: 143866A Policy No.: M- 5842 - 879485
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 TERMS AND
CONDITIONS OF THE LEASES AN EASEMENTS, IF ANY, SHOWN IN SCHEDULE A, AND THE
FOLLOWING MATTERS:
1. THE FOLLOWING RESTRICTIVE COVENANTS OF RECORD ITEMIZED BELOW, BUT THE
COMPANY INSURES THAT ANY RESTRICTIVE COVENANTS HAVE NOT BEEN VIOLATED SO AS
TO AFFECT, AND THAT FUTURE SUCH VIOLATION THEREOF WILL NOT AFFECT, THE VALIDITY
OR PRIORITY OF THE MORTGAGE HEREBY INSURED (INSERT SPECIFIC RECORDING DATA OR
DELETE THIS EXCEPTION):
Item No. 1 Is hereby deleted in its entirety.
2. ANY SHORTAGES IN AREA.
3. STANDBY FEES, TAXES AND ASSESSMENTS BY ANY TAXING AUTHORITY FOR THE YEAR 2006
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. COMPANY
INSURES THAT STANDBY FEES, TAXES AND ASSESSMENTS BY ANY TAXING AUTHORITY FOR
THE YEAR 2006 ARE NOT YET DUE AND PAYABLE.
4. LIENS AND LEASES THAT AFFECT THE TITLE TO THE ESTATE OR INTEREST, BUT THAT ARE
SUBORDINATE TO THE LIEN OF THE INSURED MORTGAGE.
5. (INSERT HERE ALL OTHER SPECIFIC EXCEPTIONS AS TO SUPERIOR LIENS, EASEMENTS,
OUTSTANDING MINERAL AND ROYALTY INTERESTS, ETC.):
a. Service Utilities and appurtenant facilities as depicted on survey plat prepared by Brad Kerr,
Registered Professional Land Surveyor, State of Texas, No. 4502, dated August 9, 2006.
b. Right -of -Way Easement from E. U. Peters, et ux to The City of Bryan, acknowledged May 1, 1937,
recorded in Volume 98, page 90, Deed Records of Brazos County, Texas and noted as a blanket
easement on survey plat prepared by Brad Kerr, Registered Professional Land Surveyor, State of
Texas, No. 4502, dated August 9, 2006.
c. Right -of -Way Easement from Chester A. Jones, et ux to The City of Bryan, dated April 2, 1937,
recorded in Volume 98, page 184, Deed Records of Brazos County, Texas and noted as a blanket
easement on survey plat prepared by Brad Kerr, Registered Professional Land Surveyor, State of
Texas, No. 4502, dated September 9, 2006.
d. Easement from E. U. Peters, et ux to Magnolia Pipe Line Company, dated October 30, 1946,
recorded in Volume 127, page 411, Deed Records of Brazos County, Texas; as defined in Partial
Release Agreement dated July 11, 1980, recorded in Volume 108, page 175, Release Records of
Brazos County, Texas and depicted as a 60' Pipeline Easement running through the southwest
portion of the tract and as shown on survey plat prepared by Brad Kerr, Registered Professional
Land Surveyor, State of Texas, No. 4502, dated August 9, 2006.
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STEWART TITLE GUARANTY COMPANY
SCHEDULE B
File No.: 143866A (Continued) Policy No.: M- 5842 - 879485
e. Right -of -Way Easement from O. C. Cooper to Wixon Water Supply Corporation, dated September
25, 1971, recorded in Volume 309, page 670, Deed Records of Brazos County, Texas and noted as
a blanket easement on survey plat prepared by Brad Kerr, Registered Professional Land Surveyor,
State of Texas, No. 4502, dated August 9, 2006.
f. Easement and Right -of -Way from Lieven J. Van Riet, Trustee, et al to Texas Municipal Power
Agency, dated October 26, 1979, recorded in Volume 439, page 301, Deed Records of Brazos
County, Texas and depicted as a 70' Electrical Easement running through the southwest portion of
the tract and as shown on survey plat prepared by Brad Kerr, Registered Professional Land
Surveyor, State of Texas, No. 4502, dated August 9, 2006.
g. Easement from David Hart, Trustee to The City of College Station, dated September 8, 1981,
recorded in Volume 494, page 11, Deed Records of Brazos County, Texas and as noted on survey
plat prepared by Brad Kerr, Registered Professional Land Surveyor, State of Texas, No. 4502, dated
August 9, 2006.
h. Utility Easement from Carrara Partnership to The City of College Station, dated March 7, 1984,
recorded in Volume 660, page 606, Official Records of Brazos County, Texas and depicted as a 20'
Utility Easement running along State Highway No. 30 and as shown on survey plat prepared by Brad
Kerr, Registered Professional Land Surveyor, State of Texas, No. 4502, dated August 9, 2006.
i. Utility Easement from Carrara Partnership to The City of College Station, dated June 26, 1984,
recorded in Volume 698, page 561, Official Records of Brazos County, Texas and depicted as a 20'
Utility Easement running along F.M. 158 and as shown on survey plat prepared by Brad Kerr,
Registered Professional Land Surveyor, State of Texas, No. 4502, dated August 9, 2006.
j. Utility Easement from Carrara Partnership to The City of College Station, dated September 15, 1988,
recorded in Volume 1075, page 197, Official Records of Brazos County, Texas and depicted as a
20' Utility Easement running along F.M. 158 and as shown on survey plat prepared by Brad Kerr,
Registered Professional Land Surveyor, State of Texas, No. 4502, dated August 9, 2006.
k. Public Utility Easement from Carrara Partnership to City of College Station, Texas, dated March 13,
2002, recorded in Volume 4715, page 104, Official Records of Brazos County, Texas and depicted
as a 20' Utility Easement running along F.M. 158 and as shown on survey plat prepared by Brad
Kerr, Registered Professional Land Surveyor, State of Texas, No. 4502, dated August 9, 2006.
I. Mineral reservation in Deed from Lieven J. Van Riet, Trustee to L &N Land Corp., dated March 20.
1981, recorded in Volume 476, page 764, and corrected in Volume 488, page 584, Deed Records
of Brazos County, Texas; subject to the terms and conditions of surface waiver contained therein.
Title to this reservation has not been traced subsequent to the date of the above -cited instrument.
m. Mineral reservation in Deed from Robert Van Riet, et ux to L &N Land Corp., dated March 20, 1981,
recorded in Volume 476, page 770, Deed Records of Brazos County, Texas; subject to the terms and
conditions of surface waiver contained therein. Title to this reservation has not been traced
subsequent to the date of the above -cited instrument.
n. Mineral reservation in Deed from Jimmy Easterly to The Summit Crossing, LLC dated August 17,
2006, recorded in Volume 7541, page 214, Official Records of Brazos County, Texas. Title to this
reservation has not been traced subsequent to the date of the above -cited instrument.
•
STEWART TITLE GUARANTY COMPANY
SCHEDULE B
File No.: 143866A (Continued) Policy No.: M- 5842 - 879485
o. Estate created by Oil and Gas Leases from Carrara Corp., et al to SS &H 01I Company, dated July
31, 1981 and August 19, 1981, recorded in Volume 42, pages 48 and 51, O &GL Records of Brazos
County, Texas. Title to these leases has not been traced subsequent to the date of the above -cited
instrument.
p. Estate created by Oil and Gas Lease from Lieven J. Van Riet, et al to Baker Exploration Company,
dated May 10, 1986, recorded in Volume 889, page 593, Official Records of Brazos County, Texas.
Title to this lease has not been traced subsequent to the date of the above -cited instrument.
q. Estate created by Oil and Gas Lease from Lieven J. Van Riet, et al to The Great Texas Petroleum
Co., Inc., dated February 22, 1991, recorded in Volume 1239, page 769, Official Records of Brazos
County, Texas. Title to this lease has not been traced subsequent to the date of the above -cited
instrument.
r. Estate created by Memorandum of Oil and Gas Leases from Isabel Haile Trust No. 1, et al to Baker
Exploration Company, dated August 6, 1991, recorded In Volume 1323, pages 217, 219 and 221,
Official Records of Brazos County, Texas. Title to these leases has not been traced subsequent to
the date of the above -cited instrument.
s. Section 13 of the Conditions and Stipulations of this policy is hereby deleted.
t. 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. There is expressly excluded from coverage hereunder, and this Company does not insure,
title to oil, gas and other minerals of every kind and character, in, on and under the property herein
described.
u. 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.
FORM T -2 MORTGAGEE POLICY OF TITL RANCE
If you want information about coverage or n s lstance to resolve complaints, please call our toll h mber: 1- 800 -729 -1902. If you mains a claim
under your policy, you must furnish written notice in accordance with Section 3 of the Conditions and Stipulations. `
Visit our World -Wide Web site at: http: /Avww.stewart.com
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A:: ' MORTGAGEE POLICY OF TITLE INSURANCE ISSUED BY ' `�� --
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4 - i STEWART TITLE E
<Fi1 GUARANTY COMPANY t'•
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED -pp t
` l IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, STEWART TITLE GUARANTY COMPANY, a Texas t t,Y
5i 1 corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, o
.. ;' not exceeding the Amount of Insurance stated in $chedute A, sustained-Or incurred by the insured by reason of
'' f :; 1. Title to the estate or Interest described in Schedule A being vested other than as stated therein; `
{ i ? 2. Any defect in or lien or encumbrance on the title; t 1
414.,} 3. Lack of a right of access to and from the land; ry `
5'-4; 4. The invalidity or unenforceability of the lien of the insured mortgage upon the title;
'? 5. The priority of any lien or encumbrance over the lien of the insured mortgage; y
6. Lack of priority of the lien of the insured mortgage over Any statutory or constitutional mechanic's, contractor's, i ,,
: ) or materialman lien for labor or material having its inception on or before Date of Policy;
7. The invalidity or unenforceability of any assignment of the insuredmortgage, provided the assignment is shown
in Schedule A, or the failure of the assignment shown In Schedule A to Vest title to the insured mortgage In the s ,v h
. .1 named insured assignee free and clear of alt liens;
• t
f i 8. Lack of good and indefeasible title. �4
M t 0 -; The Company also will pay the costs, attorneys fees and expenses incurred in defense of the title or the lien of the
k ° ' insured mortgage, as insured, but only to the extent provided in the Conditions and Stipulations.
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. In witness whereof, Stewart Title Guaranty Company h caused this policy to be signed and sealed by Its duly
:, authorized officers as of Date of Policy shown in Schedule A �0
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` , ' EXCLUSIONS FROM COVERAGE �i
1,11 Ij�' The following matters are expressly excluded from the coverage.of,this policy;and the Company will not pay loss or damage, costs, attorneys' fees if
• • or expenses that arise by reason of: `
• i 1 1. (a) Any low, ordinance or governmental regulotion (including but not limited to building and zoning laws, ordinances, or regulations) d
` a 1'1 9 prohibiting g ( P Y enjoyment ; I i )
'•9 restricting, regulating, rohibitin or relating to 1 the occu ant ,use, or en o ment of the fond (ii) the character, dimensions or location of any 7 ,, improvement now or hereafter erected on the Ion d; (iii) a separation in ownership or a change in the dimensions or area of the land or any '-,V,„:4
'4 parcel of which the land is or was 0 part; or (iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental 1 1
1 4 .
rt : regulations, except to the extent that a notice of the enforcement thereof or a notice of a deed, lien or encumbrance resulting from a violation or „'
" 4. alleged violation affecting the land hos been recorded in the public records at Date of Policy. 4 ' ,
i (b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise or a notice of a t -
defect, lien or encumbrance resulting from a violation or alleged violation affecting the land hos been recorded i n the public records at Dote of , , ,
t Policy. s
S 4•�'a 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records of Date of Policy, but not excluding £'
from coverage any taking that has occurred prior to Date of Policy whi 3 �ch would be binding on the rights of a purchaser for value without ;4x0-
\. ,, : i knowledge.
.1
, , _ , _ 05,
' z �` y sLY s. ' . a * 3 r=NO. M -5842- 879485 _ , vW
582 (Rev, 10-1.97