HomeMy WebLinkAboutTITLE INSURANCETEXAS COIVIDIITMENT FOR TITLE INSURAN
SCHEDULE A
Effective Date: April 11.2012 at 8:00 a.m.
Commitment issued April 27.20:: , 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: $3-5.000.00
PROPOSED INSURED:
.; P Miles Construction Corporation
(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: $
PROPOSED INSURED:
Proposed Borrower:
(d) TEXAS SHORT FORM RESIDENTIAL MORTGAGEE POLICY (Form T -2R)
Policy Amount: $
PROPOSED INSURED:
Proposed Borrower.
GF No. 0012166
(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:
Providence Trust Company, Trustee for the Benefit of William A. Gray Individual Retirement Account — ',%a
Interest and Lincoln Trust Company Custodian FBO Wiliam A. Gray #61181624, — 1h Interest
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. �W 12 i OkA
4. Legal description of land.
-- Exhibit A attached hereto and made a part hereof.
SCHEDULE B
GF No. 00121669
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 deielei'_.
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.)
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 (1 only_ Separate
University Title Company
Fidelity National Title Insurance {. ompan,
Texas Commitment (Rev. 1 -1 A3) - Schedule B Valid Only if Schedule A and C, and Cover are attached
SCHEDULE B - continued
GF No. 00121669
exceptions t 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 ONI :Y)
h. "All leases. grants. exceptions or reservations of coal, lignite, oil. gas and other minerals. together with all
rights, privileges, and immunities relating thcreto, appearing in the Public Records whether listed in Schedule
13 or not. "There may he 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 %Vithin anti roadway.
e. Any encroachment, encumbrance, % iolation. Variation, or adverse circumstance affecting title that would be
disclosed by an accurate and complete land survey of the land.
L Easement:
I =rum: Peter Dominik
ro: Humble Pipeline Company
n jied: July 22,1919
Recorded: Volume 49, Page 24. Deed Records. Brazos CountN. Texas.
u. Mineral Reservation in Deed:
Bv: First American Bank
l O: Providence Trust Company, Trustee
September 3, 1993
\ 19i S. Page 317, Official Records, Brazos County, Texas. Title to said interest has not
�rcn inti °csticatcd subscuucnt to the date of the aforesaid instrument.
SCHEDULE C
GF No. A) 121669
Your policy will not cover loss, costs, attorney's fees, and expenses resulting from the following requirements that will
appear as Exceptions In Schedule R ul' 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 "shortai es in area ". upon our receipt ()fail acceptable
,sur%ev. (As to Mortgagee Polic} Only)
6. Item No. 5 of Schedule B hereof shall he amended to read "standby fees, taxes and assessments by an} taxing
authority for the year 2012 and subsequent years, but not those taxes or assessments for prior }ears because of an
exemption _ranted to a previous owner of the property under Section f 1.13, Texas Tax Code, or because of
improvements not assessed for a previous tax }'car,", upon pa }mcnt of applicable premium. (As to Mortgagee
Policy T -2 Onh) (If Texas Short Form Residential Mortgagee Policy (T -211) is issued, that policy will substitute
"which become due and payable subsequent to Date of Policy" in lieu of "for the }ear and subsequent }ears. ")
7. If requested in lenders closing instructions and all of our undenv ritin, w
requirements are satisfied. %xe ill issue the
T] 7 & Tl9 hndorsements, upon payment of any applicahle premiums. (As to Mort`_agee Policy Only)
S. If requested in lenders closing instructions and upon pa\ment of applicahle premium, we will issue the T -S3 Texas
Limited Coverage Residential Chain of Title Policy.
9. We +vill 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 (Ri:!hls of Parties in Possession) be signed b\ the Purchaser and tl,C
original provided to us prior to issuance of any title policies.
University Title Company
Fidelity National Title tnsurance t _ ampart.
Texas Commitment (Rev. 1 -1 -93) -Schedule C Valid Only if Schedule A and B, and Cover are attached
SCHEDULE C - continued
GF No_ 001' 1 fib-t
By:
Authtwizcd ( 7 nuntemignatum (: AlPledt)
SCHEDULE C - continued
GF No. 0012166
11. We will require an original 'I a..x Certificate be provided showing all taxes Paid current, prior to P nuance of any
title poliOus, (11 this transaction is not closing in our office, let us know if we need to order the ta.s certificate.)
12. ARBITRATION:
The 0%%ner Policti of Mille Insurance (Form T -1) and the Mortgagee Police 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. 11' 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 Police is issued. The Insured may do this
bx signing the Deletion of Arbitration Provision form and returnin` it to the Company at or before the closing of
the real estate transaction or by writing to the Company.
NOTE I: If xou are the lender in the transaction and desire deletion of the Arbitration Provision , please inform us
through your loan closimo 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
ProN ision, a form will be presented to you at closing for c�ccution.
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 survex. we reserve the right to determine x\ hether
said survey is acceptable for insuring purposes according to our underwriter guidelines.
NOTE`. While a surveN- may he acceptable for insuring purposes. all sury ey s are subject to final appro'al bt lender.
14. Twenty-four Month Chain of Title:
The following* is a list of DEEDS affecting title to the real properly described supra for the preceding* twenty -four
months:
None of Record
Vesting Deed to owners shown herein was dated January 31, 1996 and recorded in Volume 2538, Page 10,
Official Records, Brazos County. Texas. (1/2 Interest)
Vesting Deed to owners shown herein was dated May 22, 1993 and recorded in Volume 1751, Page 141,
Official Records, Brazos County, Texas. (1/2 Interest)
15. Record title is as shown on Schedule A. The application reflects Providence Trust Company as the seller.
Determine the disposition of the interest of Lincoln Trust Company. Additional requirements may he necessary.
f 's. ;rust be furnished with a Corporate Resolution of the Board of Directors of Providence Trust Company,
auihorizing the transaction and naming the officers authorized to execute the necessary uocuments.
NOTE: Closer should be satisfied as to the corporate status of said corporation and that same is in good standing.
17. We must he furnished with a Corporate Resolution of the Board of Directors of Lincoln Trust Company,
authorizin" the transaction and naming the officers authorized to execute the necessary documents.
%:( Ti . Closer should he satisfied as to the corporate status of said corporation and that same is in good standing.
university "fittc t-onti
SCHEDULE D
GF No- 4N1121669
Purmiant to the requirements of Rule P-21, Basic Manual of Rules, Rates and Farms for the writing of Title Insurance In the State
of Texas, the following disclosures are made:
1. The following individuals arc Directors and/or Oflyeerc of FIDII4'TY NATIONAL TM J ; INSi TRANCE COMPANY:
DIRECTORS
Alan L. Stinson
Raymond R. Quirk
Joseph W. Grealish
Anthony J. Paris
Patrick G. i~arenga
Todd C. Johnson
Chief Executive Officer /C.E.O
President
Executive Vice President
Chief Financial Officer
Sr. Vice Fresidentrl reasurer
Sr. Vice President/Secretary
Alan L. Stinson
Raymond R. Quirk
Anthony J. Park
Fidelity National Financial, Inc_ owns 100% of Fidelity National Title Insurance Company.
2. The following disclosures are made by the Title Insurance Agent Lssuing 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
Chairmari/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
Secretaryfrreasurer - 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 $ 400.00
Mortgagee Policy $
Endorsement Charges $
Total $ A)0.00
University Title Company
Fidelity National Title Insurance Commwr
Texas Commitment (Rev. 1 -1 -93) - Schedule D Valid Only if Schedule A, R and C, and Cover are attached
SCHEDULE D
GF No, .ji21669
Of this total amount $ or 15.00% will be paid to the policy issuing Title Insurance Company. $_— or 8501% will
_ he retained by the issuit>g Titic inswancc Agent, and the remainder of the csdmated premium will be paid to other parties as
rtAlows:
AMOUNT TO WHOM FOR SERVICFS
*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.
Universitv Title Comnaim-
Fidelitv National Title insurance t _omr�•?
Texas Commitment (Rev. 1 -1 -93) - Schcdulc D Valid Only if Schedule A, B and C, and Covcr arc attached
Exhibit A
Being all that certain tract or parcel of land lying and being situated in the Richard Carter League, Abstract No. S,
Brazos County, Texas, and being a portion of a 1.333 acre tract conveyed to Harry E. Seaback by Stefhan Dominik,
et al by Deed recorded in Volume 323, Page 831, Deed Records of Brazos County, Texas, and being more
particularly described as follows;
BEGINNING at the North corner of the beforementioned 1.343 acre tract, said corner also lying in the Southwest
right of way line of State Highway No. 6 East Bypass;
THENCE S 16 degrees 53' 58" E along the said right of way line of State Highway 6 East Bypass for a distance of
709.16 feet to an iron rod for corner, said corner being the pint of intersection of the Southwest right of way line of
State Highway 6 East Bypass with the Northwest line of Plantation Oaks Drive;
THENCE S 64 degrees 51' 42" W along the said Northwest right of way line of Plantation Oaks Drive for a distance
of 32.14 feet to an iron rod for corner of Lot 1. Block 1 of a replat of Plantation Oaks Section One, an addition to the
City of College Station, Texas;
THENCE N 24 degrees 00' 06" W for a distance of 62.00 feet to an iron rod for corner, said corner, being the West
corner of the aforementioned 1.343 acre tract;
THENCE N 45 degrees 54' 28" E along the Northwest line of the said 1343 acre tract for a distance of 140.13 feet to
the PLACE OF BEGINNING and containing 1.265 acres of land, more or less, and being the same property
conveyed to Gerald T. Bishop by Harr E. Seaback in Deed dated August 28, 1980 and recorded in Volume 460.
Page 643, Deed Records, Brazos County. Texas.
NOTE- T!*e Comnanv is prohibited from insuring the area or quantity of the land described herein. Any statement
M.' above legal description of the area or quantity of land is not a representation twat such area or quantity is
taut is made oniv for informational anchor identification purposes and does not override item 2 of Schedule B