R-03-06-12-10A1 - 6/12/2003RESOLUTION NO. R- 03- 06- 12 -10A1
WHEREAS, the City desires to purchase a 0.295 acre tract of land
for additional right -of -way for the CR 122 Project, and
WHEREAS, James and Evelyn Ferrero, the owners of the property,
have agreed to sell said property to the City, Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
That the Mayor is hereby authorized and directed to execute on
behalf of the City a Real Estate Contract with James and Evelyn
Ferrero, for the purchase of the above described property, a copy of
said Real Estate Contract being attached hereto as Exhibit "A" and
incorporated herein for all purposes.
The City Council hereby finds and declares that written notice of
the date, hour, place and subject of the meeting at which this
Resolution was adopted was posted and that such meeting was open to the
public as required by law at all times during which this Resolution and
the subject matter hereof were discussed, considered and formally acted
upon, all as required by the Open Meetings Act, Chapter 551, Texas
Government Code, as amended.
RESOLVED this 12th day of June, 2003.
ST:
CHRISTINE R. MARTINEZ, City Secret
N PFDesktop\: :OD MA/ W ORLDO % /O: /WDO % /RESODOn /R3 0612A1. WPD/c20226£1 /sc
W LL, Mayor
City of Round Rock, Texas
THE STATE OF TEXAS
COUNTY OF WILLIAMSON
REAL ESTATE CONTRACT
THIS CONTRACT OF SALE ( "Contract ") is made by and between JAMES
M. FERRERO, and wife EVELYN JONES FERRERO (collectively referred to
in this Contract as "Seller ") and the CITY OF ROUND ROCK, a Texas
Home Rule City of 221 E. Main St. Round Rock, Williamson County,
Texas (referred to in this Contract as "Purchaser "), upon the terms
and conditions set forth in this Contract.
RECITALS
Purchaser has previously threatened condemnation of the Property
(described below.) Under threat of condemnation, Seller agrees to
convey the Property to Purchaser, and this Contract sets forth the
terms and provisions of such sale in lieu of condemnation.
ARTICLE I
PURCHASE AND SALE
By this Contract, Seller sells and agrees to convey, and
Purchaser purchases and agrees to pay for, a tract of land situated
in Williamson County, Texas, being more particularly described as
follows:
0.295 of an acre of land situated in the Robert McNutt
survey, Abstract No. 422, in Williamson County, Texas,
being a portion of Lot 22 of "Wildwood Country ", a
subdivision according to the plat thereof recorded in
Cabinet D, Slide 58 of the plat records of said County, and
being more fully described by metes and bounds in Exhibit
"A" attached hereto and incorporated herein,
together with all and singular the rights and appurtenances
pertaining to the property, including any right, title and interest
of Seller in and to adjacent streets, alleys or rights -of -way (all of
such real property, rights, and appurtenances being referred to in
this Contract as the "Property "), together with any improvements,
fixtures, and personal property situated on and attached to the
Property, for the consideration and upon and subject to the terms,
provisions, and conditions set forth below.
1
1
a
EXHIBIT
II All
ARTICLE II
PURCHASE PRICE
Amount of Purchase Price
2.01. The purchase price for the Property shall be the sum of
Eighty -Six Thousand Six Hundred Sixty -Four and 00 /100 Dollars
($86,664.00).
As additional compensation Purchaser shall pay the sum of Two
Thousand Nine Hundred and 00 /100 Dollars ($2,900.00) as compensation
for the reconstruction of the "Wildwood" subdivision monument sign
which is upon the Property.
Payment of Purchase Price
2.02. The Purchase Price shall be paid in cash at the closing.
ARTICLE III
PURCHASER'S OBLIGATIONS
Conditions to Purchaser's Obligations
3.01. The obligations of Purchaser hereunder to consummate the
transaction contemplated hereby are subject to the satisfaction of
each of the following conditions (any of which may be waived in whole
or in part by Purchaser at or prior to the closing).
Preliminary Title Commitment
3.02. Within ten (10) days after the date hereof, Purchaser, at
Purchaser's sole cost and expense, shall have caused Georgetown Title
Company, Inc. (the "Title Company ") of 1717 N. Mays, Round Rock, Texas
78664, to issue an updated preliminary title report (the "Title
Commitment "). Purchaser shall give Seller written notice on or
before the expiration of ten (10) days after Purchaser receives the
updated Title Commitment that the condition of title as set forth in
the title binder is or is not satisfactory, and in the event
Purchaser states that the condition is not satisfactory, Seller may
(but shall not be obligated to) attempt to eliminate or modify all
unacceptable matters to the reasonable satisfaction of Purchaser. In
the event Seller has not done so within ten (10) days after receipt
of written notice, this Contract shall thereupon be null and void for
all purposes and the Escrow Deposit shall be forthwith returned by
the Title Company to Purchaser. Purchaser's failure to give Seller
this written notice shall be deemed to be Purchaser's acceptance of
the Title Commitment.
4.01 The closing shall be held at the Title Company on or
before July 31, 2003 or at such time, date, and place as Seller and
Purchaser may agree upon. Upon written notice to Seller, the
Purchaser may extend the closing by up to two additional thirty (30)
ARTICLE IV
CLOSING
2
day periods if necessary. (which date is herein referred to as the
"closing date ").
Seller's Obligations
4.02. At the closing Seller shall:
(a) Deliver to Purchaser a duly executed and acknowledged
Special Warranty Deed conveying good and indefeasible title in fee
simple to all of the Property, free and clear of any and all liens,
encumbrances, conditions, easements, assessments, and restrictions,
except for the following:
4.03
in cash.
(i)
General real estate taxes for the year of
closing and subsequent years not yet due and
payable;
(ii) Any exceptions approved (or deemed approved) by
Purchaser pursuant to Article III hereof; and
(iii) Any exceptions approved by Purchaser in writing.
(b) Deliver to Purchaser a Texas Owner's Title Policy at
Purchaser's sole expense, issued by the Title Company, in
Purchaser's favor in the full amount of the purchase price,
insuring Purchaser's fee simple title to the Property
subject only to those title exceptions listed above, such
other exceptions as may be approved in writing by
Purchaser, and the standard printed exceptions contained in
the usual form of Texas Owner's Title Policy.
Purchaser's Obligations
At the Closing, Purchaser shall pay the purchase price
Prorations
4.04 General real estate taxes for the then current year
relating to the Property, shall be prorated as of the closing date
and shall be adjusted in cash at the closing. If the closing shall
occur before the tax rate is fixed for the then current year, the
apportionment of taxes shall be upon the basis of the tax rate for
the next preceding year applied to the latest assessed valuation. All
special taxes or assessments to the closing date relating to the
Property and then due and payable, shall be paid by Seller. Purchaser
will bear the burden of paying any rollback taxes, if any, resulting
from a change of use of the Property.
3
Closing Costs
4.05 All costs and expenses of closing in consummating the
sale and purchase of the Property shall be borne and paid as follows:
1. Owner's Title Policy paid by Purchaser;
2. Filing fees for deed paid by Purchaser;
3. All fees required by Seller's lender to release Property by
Purchaser.
ARTICLE V
REAL ESTATE COMMISSIONS
Seller will be solely responsible for all real estate brokerage
commissions due to any brokers representing the Seller. Purchaser
will be solely responsible for all real estate brokerage commissions
due to any brokers representing the Purchaser.
ARTICLE VI
ESCROW DEPOSIT
For the purpose of securing the performance of Purchaser under
the terms and provisions of this Contract, Purchaser has delivered to
the Title Company, the sum of One Thousand and no /100 Dollars
($1,000.00), the Escrow Deposit, which shall be paid by the Title
Company to Seller in the event Purchaser breaches this Contract as
provided in Article VIII hereof. At the closing, the Escrow Deposit
shall be paid over to Seller and applied to the purchase price,
provided, however, that in the event the Purchaser shall have given
written notice to the Title Company that one or more of the
conditions to its obligations set forth in Article III have not been
met, or, in the opinion of Purchaser, cannot be satisfied, in the
manner and as provided for in Article III, then the Escrow Deposit
shall be forthwith returned by the Title Company to Purchaser.
ARTICLE VII
BREACH BY SELLER
In the event Seller shall fail to fully and timely perform any
of its obligations hereunder or shall fail to consummate the sale of
the Property for any reason, except Purchaser's default, Purchaser
may, as its sole and exclusive remedy, either: (1) enforce specific
performance of this Contract (in which case Purchaser shall be deemed
to have agreed to accept title to the Property subject to all matters
of record); or (2) terminate this Contract in which event the Escrow
Deposit shall be forthwith returned by the Title Company to Purchaser
and neither party hereto shall have any further rights, duties or
obligations one to the other hereunder.
ARTICLE VIII
BREACH BY PURCHASER
4
In the event Purchaser should fail to consummate the purchase of
the Property, the conditions to Purchaser's obligations set forth in
Article III having been satisfied and Purchaser being in default and
Seller not being in default hereunder, Seller shall have the right to
(1) bring suit for damages against Purchaser; or (2) receive the
Escrow Deposit from the Title Company, the sum being agreed on as
liquidated damages for the failure of Purchaser to perform the
duties, liabilities, and obligations imposed upon it by the terms and
provisions of this Contract, and Seller agrees to accept and take
this cash payment as its total damages and relief and as Seller's
sole remedy hereunder in such event.
ARTICLE IX
SPECIAL PROVISIONS
9.01. Purchaser agrees to provide Seller with a residential
driveway curb cut along County Road 122 at the South West Corner of
Seller's remaining property. The exact location of such driveway
will be determined by agreement between Seller and Purchaser, and
must otherwise comply with any applicable development rules and
regulations.
9.02. Purchaser and Seller further agree that Seller has the
right to remove and retain their personal property located on the
Property acquired by Purchaser within 90 days of the execution of
this contract.
ARTICLE X
MISCELLANEOUS
Assignment of Contract
10.01 This Contract may not be assigned without the express
written consent of Seller.
Notice
10.02 Any notice required or permitted to be delivered
hereunder shall be deemed received when sent by FedEx or other
similar delivery service or by United States mail, postage prepaid,
certified mail, return receipt requested, addressed to Seller or
Purchaser, as the case may be, at the address set forth opposite the
signature of the party.
Texas Law to Apply
10.03 This Contract shall be construed under and in accordance
with the laws of the State of Texas, and all obligations of the
parties created hereunder are performable in Williamson County,
Texas.
5
Parties Bound
10.04 This Contract shall be binding upon and inure to the
benefit of the parties and their respective heirs, executors,
administrators, legal representatives, successors and assigns where
permitted by this Contract.
Legal Construction
10.05 In case any one or more of the provisions contained in
this Contract shall for any reason be held to be invalid, illegal, or
unenforceable in any respect, this invalidity, illegality, or
unenforceability shall not affect any other provision hereof, and
this Contract shall be construed as if the invalid, illegal, or
unenforceable provision had never been contained herein.
Prior Agreements Superseded
10.06 This Contract constitutes the sole and only agreement
of the parties and supersedes any prior understandings or written or
oral agreements between the parties respecting the within subject
matter.
Time of Essence
10.07 Time is of the essence in this Contract.
Gender
10.08 Words of any gender used in this Contract shall be
held and construed to include any other gender, and words in the
singular number shall be held to include the plural, and vice versa,
unless the context requires otherwise.
Effective Date
10.09 This Contract shall be effective as of the date it is
approved by the City Council, which date is indicated beneath the
Mayor's signature below.
SELLER:
Date :
6
PURCHASER:
CITY OF ROUND ROCK, TEXAS
By:
Nyle Maxwell, Mayor
221 E. Main Street
Round Rock, Texas 78664
Date: , 2003
7
DESCRIPTION
FOR A 0.295 ACRE (12,895.19 SQUARE FEET) TRACT OF LAND SITUATED IN THE
ROBERT MCNUTT SURVEY, ABSTRACT NO. 422, IN WILLIAMSON COUNTY, TEXAS,
BEING A PORTION OF LOT 22 OF "WILDWOOD COUNTRY" A SUBDIVISION
ACCORDING TO THE PLAT THEREOF RECORDED IN CABINET D SLIDE 58 OF THE
PLAT RECORDS OF SAID COUNTY, SAID 0.295 ACRE TRACT BEING MORE
PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING on a PK nail found on a point being the northwest corner of said Lot 22, same being the
intersecting point of the south right -of -way line of Country Drive (50 -feet in right -of -way width) and the
easterly right -of -way line of C.R. 122 (right -of -way width varies) hereof;
THENCE with the south right -of -way line of Country Drive, same being the north boundary line of said
Lot 22, N87 "E for a distance of 66.39 -feet to an iron rod set on a point of curvature hereof and from
which an iron rod found on a point in the south right -of -way line of said Country Drive, same being the
most northeast comer of said Lot 22, also being the most northwest corner of Lot 21 of said Subdivision,
bears N87 "E a distance of 95.29 -feet:
THENCE departing the south`right -of -way line of said Country Drive, through the interior of said Lot 22,
with the arc of a curve to the left, having a radius of 20.00 -feet, a central angle of 88 ° 59'07" a arc length of
31.06 -feet, and a chord which bears S43 ° 25'33 "W for a distance of 28.03 -feet to an iron rod set on a point
of tangency hereof;
THENCE continuing through the interior of said Lot 22, S01 ° 04'01 "E for a distance of 261.22 -feet to an
iron rod set on a point in the south boundary line of said Lot 22, same being the easterly right -of -way line
of said C.R 122, hereof, and from which an iron rod found on a point in the south boundary line of said Lot
22, same being the most northwesterly corner of Lot 1 of "The Reserves at Oak Bluff Estates" a
subdivision according to the Plat thereof recorded in Cabinet L Slide 176 of the Plat Records of said
County, bears S89 ° 54'50 "W a distance of 1.18 -feet;
THENCE with the south boundary line of said Lot 22, same easterly right -of -way line of said C.R. 122,
N89 ° 54'50 "W for a distance of 44.39 -feet to a PK nail found on a point being the most southwest comer of
said Lot 22 hereof;
THENCE continuing with the easterly right -of -way line of said C.R. 122, same being the west boundary
line of said Lot 22, N01 ° 39' 16 "W for a distance of 220.96 -feet to an angle point hereof;
THENCE continuing with the easterly right -of -way line of said C.R. 122, same being the west boundary
line of said Lot 22, N01 ° 09'00 "W (Bearing Basis/Directional Control Line) for a distance of 58.20 -feet to
the POINT OF BEGINNING hereof and containing 0.295 acre of land.
Surveyed under the direct supervision of the undersigned:
Donald J. Kirby
Registered Profession 1 Land Surveyor No. 2508
Baker Aicklen & Assoc.
203 E. Main St. Ste. 201
Round Rock, Tx. 78664
I22WCL22
Date
SKETCH TO ACCOMPANY DESCRIPTION
10 ROAD
EASEMENT
LEGEND
• IRF IRON R0D FOUND
IRS = IRON ROD SET
0
•PK = PK NAIL FOUND
( 1 = RECORD INFORMATION
P.O.B. = POINT OF BEGINNING
P.O.B. COUNTRY DRIVE (50' ROW)
(587 161.72')
1 7(■ IRE SCALE: 1"=50'
' K N97.55 IRS N 87°55'06" E
66.39' 95.29'
3 1
IRS
•
0
01
/ V.18'
44.39' OS
N89
(N89
tO
to en
CURVE DATA
N.
SUBJECT TRACT
0.295 AC.
12,895.19 SQ. FT.
WILDWOOD COUNTRY
CAB. D SL. 58
10' ROAD EASEMENT
PER PLAT
LOT 22
ta -
NUMBER
CI
DELTA ANGLE
88°59'07"
CHORD DIRECTION
S 43°2533" W
RADIUS
20.00
ARC LENGTH
31.06
CHORD LENGTH
21103
L3
< I
LOT 21
44
S.
Th RESERVE .S A T
OAK :31. :if: F EST A, TE S
EXHIBIT "A"
DATE: 4-2000
JOB No.: 601-758-10
File:
BY: BKS
Baker-Alcklen
& Associates, Inc.
Engineers/Surveyors
Appraised Value (City):
Date: October 5, 2001
Appraised Value (Owner):
Special Commissioners' Award
Proposed Settlement/Contract Amount:
SUMMARY OF FACTS
FERRERO ACOUISITION
Proiect: CR 122
Property Owner of Record: James & Evelyn Ferrero
Location of Property 1 County Drive (Red Bud Lane)
Property Interest Sought: Fee Simple
Property To be Acquired: 0.295 (12,895 ft.) acre out of 1.036 acres total (Partial
Taking)
Other Salient Facts
1. Ferreros are represented by Doug Cornwell in this case.
2. As part of contract Ferreros will be allowed 90 days after closing to remove any
improvements in the acquisition area, and reconfigure their property affected by the
acquisition. The Ferreros will also be allowed a driveway entrance as affected by the
project.
LPFDCstop :ODMNWOALOOVO /wAw /COPJOra spn. 122mW (mndotherdne0I071193.WPD/dc
$86,664
None
None
$86,664 for part taken and damages
to remainder, plus $2,900 for
replacement of subdivision sign in
acquisition area.
DATE: June 6, 2003
SUBJECT: City Council Meeting — June 12, 2003
ITEM: *10.A.1. Consider a resolution authorizing the Mayor to execute a Real
Estate Contract with James and Evelyn Ferrero for the purchase of
right -of -way for the CR 122 Project.
Resource: Steve Sheets, City Attorney
Don Childs, Attorney
History: This contract with Mr. and Mrs. Ferrero is for right -of -way acquisition for the CR 122
project.
Funding:
Cost: $89,564
Source of funds: N/A
Outside Resources: N/A
Impact: N/A
Benefit: Improved mobility on CR 122
Public Comment: N/A
Sponsor: N/A
THE STATE OF TEXAS §
COUNTY OF WILLIAMSON §
REAL ESTATE CONTRACT
THIS CONTRACT OF SALE ( "Contract ") is made by and between JAMES
M. FERRERO, and wife EVELYN JONES FERRERO (collectively referred to
in this Contract as "Seller ") and the CITY OF ROUND ROCK, a Texas
Home Rule City of 221 E. Main St. Round Rock, Williamson County,
Texas (referred to in this Contract as "Purchaser "), upon the terms
and conditions set forth in this Contract.
RECITALS
Purchaser has previously threatened condemnation of the Property
(described below.) Under threat of condemnation, Seller agrees to
convey the Property to Purchaser, and this Contract sets forth the
terms and provisions of such sale in lieu of condemnation.
By this Contract, Seller sells and agrees to convey, and
Purchaser purchases and agrees to pay for, a tract of land situated
in Williamson County, Texas, being more particularly described as
follows:
0.295 of an acre of land situated in the Robert McNutt
survey, Abstract No. 422, in Williamson County, Texas,
being a portion of Lot 22 of "Wildwood Country ", a
subdivision according to the plat thereof recorded in
Cabinet D, Slide 58 of the plat records of said County, and
being more fully described by metes and bounds in Exhibit
"A" attached hereto and incorporated herein,
together with all and singular the rights and appurtenances
pertaining to the property, including any right, title and interest
of Seller in and to adjacent streets, alleys or rights -of -way (all of
such real property, rights, and appurtenances being referred to in
this Contract as the "Property "), together with any improvements,
fixtures, and personal property situated on and attached to the
Property, for the consideration and upon and subject to the terms,
provisions, and conditions set forth below.
ARTICLE I
PURCHASE AND SALE
1
ARTICLE II
PURCHASE PRICE
Amount of Purchase Price
2.01. The purchase price for the Property shall be the sum of
Eighty -Six Thousand Six Hundred Sixty -Four and 00 /100 Dollars
($86,664.00).
As additional compensation Purchaser shall pay the sum of Two
Thousand Nine Hundred and 00 /100 Dollars ($2,900.00) as compensation
for the reconstruction of the "Wildwood" subdivision monument sign
which is upon the Property.
Payment of Purchase Price
2.02. The Purchase Price shall be paid in cash at the closing.
ARTICLE III
PURCHASER'S OBLIGATIONS
Conditions to Purchaser's Obligations
3.01. The obligations of Purchaser hereunder to consummate the
transaction contemplated hereby are subject to the satisfaction of
each of the following conditions (any of which may be waived in whole
or in part by Purchaser at or prior to the closing).
Preliminary Title Commitment
3.02. Within ten (10) days after the date hereof, Purchaser, at
Purchaser's sole cost and expense, shall have caused Georgetown Title
Company, Inc. (the "Title Company ") of 1717 N. Mays, Round Rock, Texas
78664, to issue an updated preliminary title report (the "Title
Commitment "). Purchaser shall give Seller written notice on or
before the expiration of ten (10) days after Purchaser receives the
updated Title Commitment that the condition of title as set forth in
the title binder is or is not satisfactory, and in the event
Purchaser states that the condition is not satisfactory, Seller may
(but shall not be obligated to) attempt to eliminate or modify all
unacceptable matters to the reasonable satisfaction of Purchaser. In
the event Seller has not done so within ten (10) days after receipt
of written notice, this Contract shall thereupon be null and void for
all purposes and the Escrow Deposit shall be forthwith returned by
the Title Company to Purchaser. Purchaser's failure to give Seller
this written notice shall be deemed to be Purchaser's acceptance of
the Title Commitment.
ARTICLE IV
CLOSING
4.01 The closing shall be held at the Title Company on or
before July 31, 2003 or at such time, date, and place as Seller and
Purchaser may agree upon. Upon written notice to Seller, the
Purchaser may extend the closing by up to two additional thirty (30)
0 ,wao,CORR,«a
, C0c5...weorzmc
2
day periods if necessary. (which date is herein referred to as the
"closing date ").
Seller's Obligations
4.02. At the closing Seller shall:
(a) Deliver to Purchaser a duly executed and acknowledged
Special Warranty Deed conveying good and indefeasible title in fee
simple to all of the Property, free and clear of any and all liens,
encumbrances, conditions, easements, assessments, and restrictions,
except for the following:
4.03
in cash.
(i)
General real estate taxes for the year of
closing and subsequent years not yet due and
payable;
(ii) Any exceptions approved (or deemed approved) by
Purchaser pursuant to Article III hereof; and
(iii) Any exceptions approved by Purchaser in writing.
(b) Deliver to Purchaser a Texas Owner's Title Policy at
Purchaser's sole expense, issued by the Title Company, in
Purchaser's favor in the full amount of the purchase price,
insuring Purchaser's fee simple title to the Property
subject only to those title exceptions listed above, such
other exceptions as may be approved in writing by
Purchaser, and the standard printed exceptions contained in
the usual form of Texas Owner's Title Policy.
Purchaser's Obligations
At the Closing, Purchaser shall pay the purchase price
Prorations
4.04 General real estate taxes for the then current year
relating to the Property, shall be prorated as of the closing date
and shall be adjusted in cash at the closing. If the closing shall
occur before the tax rate is fixed for the then current year, the
apportionment of taxes shall be upon the basis of the tax rate for
the next preceding year applied to the latest assessed valuation. All
special taxes or assessments to the closing date relating to the
Property and then due and payable, shall be paid by Seller. Purchaser
will bear the burden of paying any rollback taxes, if any, resulting
from a change of use of the Property.
3
Closing Costs
4.05 All costs and expenses of closing in consummating the
sale and purchase of the Property shall be borne and paid as follows:
1. Owner's Title Policy paid by Purchaser;
2. Filing fees for deed paid by Purchaser;
3. All fees required by Seller's lender to release Property by
Purchaser.
ARTICLE V
REAL ESTATE COMMISSIONS
Seller will be solely responsible for all real estate brokerage
commissions due to any brokers representing the Seller. Purchaser
will be solely responsible for all real estate brokerage commissions
due to any brokers representing the Purchaser.
ARTICLE VI
ESCROW DEPOSIT
For the purpose of securing the performance of Purchaser under
the terms and provisions of this Contract, Purchaser has delivered to
the Title Company, the sum of One Thousand and no /100 Dollars
($1,000.00), the Escrow Deposit, which shall be paid by the Title
Company to Seller in the event Purchaser breaches this Contract as
provided in Article VIII hereof. At the closing, the Escrow Deposit
shall be paid over to Seller and applied to the purchase price,
provided, however, that in the event the Purchaser shall have given
written notice to the Title Company that one or more of the
conditions to its obligations set forth in Article III have not been
met, or, in the opinion of Purchaser, cannot be satisfied, in the
manner and as provided for in Article III, then the Escrow Deposit
shall be forthwith returned by the Title Company to Purchaser.
ARTICLE VII
BREACH BY SELLER
In the event Seller shall fail to fully and timely perform any
of its obligations hereunder or shall fail to consummate the sale of
the Property for any reason, except Purchaser's default, Purchaser
may, as its sole and exclusive remedy, either: (1) enforce specific
performance of this Contract (in which case Purchaser shall be deemed
to have agreed to accept title to the Property subject to all matters
of record); or (2) terminate this Contract in which event the Escrow
Deposit shall be forthwith returned by the Title Company to Purchaser
and neither party hereto shall have any further rights, duties or
obligations one to the other hereunder.
ARTICLE VIII
BREACH BY PURCHASER
4
In the event Purchaser should fail to consummate the purchase of
the Property, the conditions to Purchaser's obligations set forth in
Article III having been satisfied and Purchaser being in default and
Seller not being in default hereunder, Seller shall have the right to
(1) bring suit for damages against Purchaser; or (2) receive the
Escrow Deposit from the Title Company, the sum being agreed on as
liquidated damages for the failure of Purchaser to perform the
duties, liabilities, and obligations imposed upon it by the terms and
provisions of this Contract, and Seller agrees to accept and take
this cash payment as its total damages and relief and as Seller's
sole remedy hereunder in such event.
ARTICLE IX
SPECIAL PROVISIONS
9.01. Purchaser agrees to provide Seller with a residential
driveway curb cut along County Road 122 at the South West Corner of
Seller's remaining property. The exact location of such driveway
will be determined by agreement between Seller and Purchaser, and
must otherwise comply with any applicable development rules and
regulations.
9.02. Purchaser and Seller further agree that Seller has the
right to remove and retain their personal property located on the
Property acquired by Purchaser within 90 days of the execution of
this contract.
ARTICLE X
MISCELLANEOUS
Assignment of Contract
10.01 This Contract may not be assigned without the express
written consent of Seller.
Notice
10.02 Any notice required or permitted to be delivered
hereunder shall be deemed received when sent by FedEx or other
similar delivery service or by United States mail, postage prepaid,
certified mail, return receipt requested, addressed to Seller or
Purchaser, as the case may be, at the address set forth opposite the
signature of the party.
Texas Law to Apply
10.03 This Contract shall be construed under and in accordance
with the laws of the State of Texas, and all obligations of the
parties created hereunder are performable in Williamson County,
Texas.
5
Parties Bound
10.04 This Contract shall be binding upon and inure to the
benefit of the parties and their respective heirs, executors,
administrators, legal representatives, successors and assigns where
permitted by this Contract.
Legal Construction
10.05 In case any one or more of the provisions contained in
this Contract shall for any reason be held to be invalid, illegal, or
unenforceable in any respect, this invalidity, illegality, or
unenforceability shall not affect any other provision hereof, and
this Contract shall be construed as if the invalid, illegal, or
unenforceable provision had never been contained herein.
Prior Agreements Superseded
10.06 This Contract constitutes the sole and only agreement
of the parties and supersedes any prior understandings or written or
oral agreements between the parties respecting the within subject
matter.
Time of Essence
10.07 Time is of the essence in this Contract.
Gender
10.08 Words of any gender used in this Contract shall be
held and construed to include any other gender, and words in the
singular number shall be held to include the plural, and vice versa,
unless the context requires otherwise.
Effective Date
10.09 This Contract shall be effective as of the date it is
approved by the City Council, which date is indicated beneath the
Mayor's signature below.
SELLER:
AMES
NES FERRERO
Date: / LS
6
3 -De- 4,746),4/
7
221 E. Main Street
Round Rock, Texas 78664
Date: (U OCJ , 2003
DESCRIPTION
FOR A 0.295 ACRE ( 12,895.19 SQUARE FEET) TRACT OF LAND SITUATED IN THE
ROBERT MCNUTT SURVEY, ABSTRACT NO. 422, IN WILLIAMSON COUNTY, TEXAS,
BEING A PORTION OF LOT 22 OF "WILDWOOD COUNTRY" A SUBDIVISION
ACCORDING TO THE PLAT THEREOF RECORDED IN CABINET D SLIDE 58 OF THE
PLAT RECORDS OF SAID COUNTY, SAID 0.295 ACRE TRACT BEING MORE
PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING on a PK nail found on a point being the northwest corner of said Lot 22, same being the
intersecting point of the south right -of -way line of Country Drive (50 -feet in right -of -way width) and the
easterly right -of -way line of C.R. 122 (right -of -way width varies) hereof;
THENCE with the south right -of -way line of Country Drive, same being the north boundary line of said
Lot 22, N87 ° 55'06 "E for a distance of 66.39 -feet to an iron rod set on a point of curvature hereof and from
which an iron rod found on a point in the south right -of -way line of said Country Drive, same being the
most northeast corner of said Lot 22, also being the most northwest comer of Lot 21 of said Subdivision,
bears N87 ° 55'06 "E a distance of 95.29 -feet:
THENCE departing the south•right -of -way line of said Country Drive, through the interior of said Lot 22,
with the arc of a curve to the left, having a radius of 20.00 -feet, a central angle of 88 ° 59'07" a arc length of
31.06 -feet, and a chord which bears S43 ° 25'33 "W for a distance of 28.03 -feet to an iron rod set on a point
of tangency hereof;
THENCE continuing through the interior of said Lot 22, S01 ° 04'01 "E for a distance of 261.22 -feet to an
iron rod set on a point in the south boundary line of said Lot 22, same being the easterly right -of -way line
of said C.R 122, hereof, and from which an iron rod found on a point in the south boundary line of said Lot
22, same being the most northwesterly comer of Lot 1 of "The Reserves at Oak Bluff Estates" a
subdivision according to the Plat thereof recorded in Cabinet L Slide 176 of the Plat Records of said
County, bears S89 ° 54'50' W a distance of 1.18 -feet;
THENCE with the south boundary line of said Lot 22, same easterly right -of -way line of said C.R. 122,
N89 ° 54'50 "W for a distance of 44.39 -feet to a PK nail found on a point being the most southwest comer of
said Lot 22 hereof;
THENCE continuing with the easterly right -of -way line of said C.R. 122, same being the west boundary
line of said Lot 22, N01 ° 39' 16 "W for a distance of 220.96 -feet to an angle point hereof;
THENCE continuing with the easterly right -of -way line of said C.R. 122, same being the west boundary
line of said Lot 22, N01 ° 09'00 "W (Bearing Basis/Directional Control Line) for a distance of 58.20 -feet to
the POINT OF BEGINNING hereof and containing 0.295 acre of land.
Surveyed under the direct supervision of the undersigned:
Donald J. Kirby
Registered Profession. l Land Surveyor No. 2508
Baker Aicklen & Assoc.
203 E. Main St. Ste. 201
Round Rock, Tx. 78664
122wcL22.DOc
SKETCH TO ACCOMPANY DESCRIPTION
10' ROAD
EASEMENT
LEGEND
P.D.B. COUNTRY DRIVE (50' ROW)
(587°51"W 161.72)
K N87.55'06"E IFts N 87°55'06" E IRF
:t 46- 66.39'
o QS IRS
• 0 I
" 0
N
zzTiCrTREr T
4.5 000 0.295 AC.
EL
12,895.19 SO. FT.
cr.
'
e
* IRE = IRON ROD FOUND
IRS = IRON ROD SET
• PK = PK NAIL FOUND
( 1 = RECORD INFORMATION
Ras. = POINT OF BEGINNING
CURVE DATA
44.39' IRS 41;
6 N89°54'50"W
(N89°45'W)
IRF
0 ;11
n
a
LOT 22
95.29'
WILDWOOD COUNTRY
CAB. D SL. 58
10' ROAD EASEMENT
PER PLAT
NUMBER
CI
DELTA ANGLE
038
CHORD DIRECTION
S 43°25'33" W
RADIUS
20.00
ARC LENGTH
31.06
CHORD LENGTH
28.03
L T 1
T h'E RESER VES A T
DATE: 4-2000
JOB No.: 601-758-10
File:
BY: BKS
Lik
SCALE: 1"=50'
LOT 21
(1
EXHIBIT "A"
Baker-Alcklen
& Associates, Inc.
Engineers/Surveyors
• v ywwn I Ice company, Inc.
Od y
o10(1-7 (p79
THE STATE OF TEXAS §
§
COUNTY OF WILLIAMSON §
SPECIAL WARRANTY DEED
111111111111111111111111111111111111111111111111111111111111 4 DEED
PGS
2003124150
WHEREAS, the City of Round Rock, Texas is authorized to purchase land and
such other property rights deemed necessary or convenient for the
construction, expansion, enlargement, extension, improvement, or operation
of a portion of County Road 122 ( "Project "); and,
WHEREAS, the purchase of the hereinafter - described premises has been deemed
necessary or convenient for the construction, expansion, enlargement,
extension, improvement, or operation of the Project;
NOW, THEREFORE, KNOW ALL MEN BY THESE PRESENTS:
That, JAMES M. FERRERO and wife, EVELYN JONES FERRERO, hereinafter
referred to as Grantors, whether one or more, for and in consideration of
the sum of Ten Dollars ($10.00) and other good and valuable consideration to
Grantors in hand paid by the City of Round Rock, Texas, receipt and
sufficiency of which is hereby acknowledged, and for which no lien is
retained, either expressed or implied, have this day Sold and by these
presents do Grant, Bargain, Sell and Convey unto the City of Round Rock,
Texas all those certain tracts or parcels of land lying and being situated
in the County of Williamson, State of Texas, being more particularly
described as follows:
BEING a 0.295 acre (12,895.19 square foot) tract of land situated
in the Robert McNutt Survey, Abstract No. 422, being a portion of
Lot 22 of " Wildwood Country", a subdivision according to the
plat thereof recorded in Cabinet D, Slide 58 of the Plat Records
of Williamson County, said 0.295 acre tract being more
particularly described in Exhibit "A" attached hereto and made a
part hereof.
Grantors reserve all of the oil, gas and sulphur in and under the land
herein conveyed but waive all rights of ingress and egress to the surface
thereof for the purpose of exploring, developing, mining or drilling for
same; however, nothing in this reservation shall affect the title and rights
of the City to take and use all other minerals and materials thereon,
therein and thereunder.
RESERVATIONS FROM AND EXCEPTIONS TO CONVEYANCE AND WARRANTY: Easements
and rights -of -way of record; all presently recorded restrictions,
reservations, covenants, conditions, oil, gas or other mineral leases,
mineral severances, and other instruments, other than liens and conveyances,
that affect the property; rights of adjoining owners in any walls and fences
situated on a common boundary; any encroachments or overlapping of
C: \WINDOWS \Temporary Internet Files \OLK4255\FERRERO -- Special warranty deed (9 -18-03) (00055254)1.DOC
PREPARED IN THE OFFICE OF:
AFTER RECORDING RETURN TO:
e
improvements; and taxes for the current year, the payment of which Grantee
assumes.
TO HAVE AND TO HOLD the premises herein described and herein conveyed
together with all and singular the rights and appurtenances thereto in any
wise belonging unto the City of Round Rock, Texas and its assigns forever;
and Grantors do hereby bind ourselves, our heirs, executors, administrators,
successors and assigns to Warrant and Forever Defend all and singular the
said premises herein conveyed unto the City of Round Rock, Texas and its
assigns against every person whomsoever lawfully claiming or to claim the
same or any part thereof by, through, or under Grantors, but not otherwise.
This deed is being delivered in lieu of condemnation.
I WITNESS WHEREOF, this instrument is executed on this the Ai day of
.uz n tic v , 2003.
Acknowledgment
State of Texas
County of Williamson
This instrument was acknowledged before me on this the /4, day of
, 2003 by JAMES M. FERRERO and wife, EVELYN JONES FERRERO.
ry Public, Sta,- of Texas
Sheets & Crossfiel
309 E. Main St.
Round Rock, Texas 7
Georgetown Title Company
1717 N. Mays.
Round Rock, Texas 78664
2
DESCRIPTION
FOR A 0.295 ACRE (12,895.19 SQUARE FEET) TRACT OF LAND SITUATED IN THE
ROBERT MCNUTT SURVEY, ABSTRACT NO. 422, IN WILLIAMSON COUNTY, TEXAS,
BEING A PORTION OF LOT 22 OF "WILDWOOD COUNTRY" A SUBDIVISION
ACCORDING TO THE PLAT THEREOF RECORDED IN CABINET D SLIDE 58 OF THE
PLAT RECORDS OF SAID COUNTY, SAID 0.295 ACRE TRACT BEING MORE
PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING on a PK nail found on a point being the northwest corner of said Lot 22, same being the
intersecting point of the south right -of -way line of Country Drive (50 -feet in right-of-way width) and the
easterly right -of -way line of C.R. i22 (right -of -way width varies) hereof;
THENCE with the south right -of -way line of Country Drive, same being the north boundary line of said
Lot 22, N87 "E for a distance of 66.39 -feet to an iron rod set on a point of curvature hereof and from
which an iron rod found on a point in the south right -of -way line of said Country Drive, same being the
most northeast corner of said Lot 22, also being the most northwest corner of Lot 21 of said Subdivision,
bears N87 "E a distance of 95.29 -feet:
THENCE departing the south line of said Country Drive,.through the interior of said Lot 22,
with the arc of a curve to the left, having a radius of 20.00 -feet, a central angle of 88 ° 59'07" a arc length of
31.06 -feet, and a chord which bears 543 "W for a distance of 28.03 -feet to an iron rod set on a point
of tangency hereof
THENCE continuing through the interior of said Lot 22, SOl ° 04'01 "E for a distance of 261.22 -feet to an
iron rod set on a point in the south boundary line of said Lot 22, same being the easterly right -of -way line
of said C.R 122, hereof, and from which an iron rod found on a point in the south boundary line of said Lot
22, same being the most northwesterly corner of Lot 1 of "The Reserves at Oak Bluff Estates" a
subdivision according to the Plat thereof recorded in Cabinet L Slide 176 of the Plat Records of said
County, bears S89 ° 54'50 "W a distance of 1.18-feet;
THENCE with the south boundary line of said Lot 22, same easterly right -of -way line of said C.R. 122,
N89 ° 54'50"R{ for a distance of 44.39 -feet to a PK nail found on a point being the most southwest corner of
said Lot 22 hereof;
THENCE continuing with the easterly right -of -way line of said C.R. 122, same being the west boundary
line of said Lot 22, N01 ° 39'16 "W for a distance of 220.96 -feet to an angle point hereof;
THENCE continuing with the easterly right-of-way line of said C.R. 122, same being the west boundary
line of said Lot 22, NO1 ° 09'00 "W (Bearing Basis/Directional Control Line) for a distance of 58.20 -feet to
the POINT OF BEGINNING hereof and containing 0.295 acre of land.
Surveyed under the direct supervision of the undersigned:
0 .CC J
Donald 1. Kirby - Date
Registered Profession. l Land Surveyor No. 2508
Baker Aicklen & Assoc.
203 E. Main St. Ste. 201
Round Rock, Tx. 78664 —
122WCL22.DOC
i /H Geu ottO."n ai "uc Cp., Inc.
1
Aftit4ifee town Title Co., Inc.
P.O. Box 835
Round Rock, TX 78680 -0835
e - ar
-
c _
FILED AND RECORDED
OFFICIAL PUBLIC RECORDS 2 @03124150
12/31/2003 03:24 PM
MILLER $20.00
NANCY E. RISTER, COUNTY CLERK
UILLIAMSON COUNTY, TEXAS
ISSUED BY
COMMONWEALTH LAND TITLE INSURANCE COMPANY
Commonwealth
A LANOAMouct, COMPANY
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND
THE CONDITIONS AND STIPULATIONS, Commonwealth Land Title Insurance Company, a Pennsylvania corporation, herein called the
Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in
Schedule A, sustained or incurred by the insured by reason of:
1. Title to the estate or interest described in Schedule A being vested other than as stated therein;
2. Any defect in or lien or encumbrance on the title;
3. Any statutory or constitutional mechanic's, contractor's, or materialman's lien for labor or material having its inception on or before Date of
Policy;
4. Lack of a right of access to and from the land;
5. Lack of good and indefeasible title.
The Company also will pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent
provided in the Conditions and Stipulations.
IN WITNESS WHEREOF, COMMONWEALTH LAND TITLE INSURANCE COMPANY has caused its corporate name and seal to be hereunto
affixed by its duly authorized officers, the Policy to become valid when countersigned by an authorized officer or agent of the Company.
COMMONWEALTH LAND TITLE INSURANCE COMPANY
Attest:
Secretary
EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs,
attorneys' lees or expenses which arise by reason of:
1. (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations)
restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of
any improvement now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or
any parcel of which the land is or was a part; or (iv) environmental protection, or the effect of any violation of these laws, ordinances or
governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting
from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy.
(b) Any governmental police power not excluded by (a) above, except to the extent That a notice of the exercise thereof or a notice of a defect,
lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of
Policy.
2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding
from coverage any taking That has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without
knowledge.
3. Detects, liens, encumbrances, adverse claims or other matters:
(a) created, suffered, assumed or agreed to by the insured claimant;
(b) not known to the Company, not recorded in the public records at Dale of Policy, but known to the insured claimant and not disclosed in
writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy;
(c) resulting in no loss or damage to the insured claimant;
(d) attaching or created subsequent to Date of Policy;
(e) resulting in loss or damage that would not have been sustained if the insured claimant had paid value for the estate or interest insured by
this policy.
4. The refusal of any person 10 purchase, lease or lend money on the estate or interest covered hereby in the land described in Schedule A
because of unmarketability of the title.
5. Any claim which arises out of the transaction vesting in the person named in paragraph 3 of Schedule Athe estate or interest insured by this
policy, by reason of the operation of federal bankruptcy, state insolvency, or other state or federal creditors' rights laws that is based on either
(i) the transaction creating the estate or interest Insured by this Policy being deemed a fraudulent conveyance or fraudulent transferor a void-
able distribution or voidable dividend, (ii) the subordination or recharacterization of the estate or interest insured by this Policy as a result of
the application of the doctrine of equitable subordination or (iii) the transaction creating the estate or interest insured by this Policy being deemed
a preferential transfer except where the preferential transfer results from the failure of the Company or its issuing agent to timely file for record
the instrument of transfer to the insured after delivery or the failure of such recordation to impart notice to a purchaser for value or a judgment
or lien creditor.
Texas Owner's Policy T -1 (Rev. 04104102)
Face Page
Form 1178-1A
ORIGINAL
OWNER'S POLICY OF TITLE INSURANCE
By:
POLICY NUMBER
115- 0010286
V � a
President
Valid only if Schedules A and B and Cover are attached
I. DEFINITION OF TERMS.
The following terms when used in this policy meant
(a) "insured ": the insured named in Schedule A, and, subject to any rights or defenses
the Company would have had against the named insured, those who succeed to the interest of
the named insured by operation of law as distinguished from purchase including. but not
limited lo, heirs, distrtbutees, devisees, survivors, personal representatives, next of kin. Or
corporate, partnership or fiduciary successors, and specifically, without limitation. the follow-
milli (,) the successors to interest lo a corporation, limited liability company or limited liability
partnership resulting from merger or eonsolaation or conversion or the disbibubon of the assets of
the corperation or limited babitity company or limited liability partnership upon partial or complete
liquidation;
(ii) the succeshrs in interest. age cal or Ymiledpartnership or limited liability company
or limited liability partnership which dissolves h does not terminate;
(iii) the successors in interest to a general or limited partnership resulting from the
distribution of the a55e10 W the general or limited partnership upon partial or complete
liquidation;
(iv) Ihesuccessors in interest to a joint venture resulting loam the distribution of the
assets of the joint venture upon partial or complete liquidation;
(v) the successor or substitute buslee(s) of a trustee named to a written trust
instrument; or
(vi) the successors in interest to a trustee or trust resulting from the distribution of
all or pan of the assets of the trust to the beneficiaries thereof.
(b) "insured claimant ": an insured claiming loss or damage.
(c) "knowledge" or "known ": actual knowledge, not constructive knowledge or notice
that may be imputed to an insured by reason of the public records as defined in this policy or
any other records which impart constructive noltce of matters affecting the land.
(0) "lane: land described or referred la in Schedule A, and improvements affixed
thereto that by law constitute real property. The term "land" does not include any property
beyond the linesol the area described or referred to to Schedule A, nor any right, title, interest,
estate or easement in abutting streets. roads, avenues, alleys, lanes, ways or waterways, but
nothing herein shall modify or limit the extent to which a right of access to and from the land is
Ins ured by this policy.
(e) "mortgage ": mortgage, deed of trust, trust deed. or other security instrument.
(1) "public records": records established under stale statutes at Date of Policy for the
purpose of imparting constructive notice of matters relating to real properly to purchasers for
value and without knowledge. With respect to Section 1(a)(iv) of the Exclusions From Cover -
age, "public records" also shall include environmental protection liens filed in the records of
the clerk of the United Slates district court for the district in which the land is located.
(9) "access", legal right of access to the land and not the physical condition of access.
The coverage provided as to access does not assure the adequacy Of access far the use
intended.
2. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF TITLE.
The coverage of this policy shall continue in force as of Date of Policy in favor of an
lured only so long as the insured retains an estate or interest in the land, or holds an
indebtedness secured by a purchase money mortgage given by a purchaser from the insured,
or only so long as the insured shall have liability by reason of covenants of warranty made by
the insured in any transfer or conveyance 01 the estate or interest. This policy shall not
continue in force in favor of any purchaser from the insured of either (i) an estate or interest in
the land, or (ii) an indebtedness secured by a purchase money mortgage given to the insured.
3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT.
The insured shall notify the Company promptly in writing (1) in case of any litigation as set
forth in Section 4(a) below, or (ti) to case knowledge shall come to an insured hereunder of any
claim of line or interest that is adverse to the title to the estate or interest, as insured, and that
might cause loss or damage for which the Company may be liable by virtue of this policy. 11
prompt notice shall not be given to the Company, then as to the insured all liability 01 the
Company shall terminate with regard to the matter or matters for which prompt notice Is
required; provided, however, that failure to notify the Company shall in no case prejudice the
rights of any insured under this policy unless the Company shall be prejudiced by the failure
and then only to the extent of the prejudice.
When. after the dale of the policy. the insured notifies the Company as required herein of
a lien, encumbrance. adverse claim or other detect in tine to the estate or interest in the land
insured by this policy that is not excluded or excepted from the coverage o1 this policy, the
Company shall promptly investigate the charge to determine whether the lien, encumbrance,
adverse claim or defect is valid and not barred by law or statute- The Company shall notify the
insured in writing. within a reasonable lime, of its determination as to the validity or invalidity of
the insured's claim or charge under the policy. II the Company concludes that the lien,
encumbrance, adverse claim or defect is not covered by this policy, or was otherwise
addressed in the closing ofthetransaction in connection with which this policy was issued, the
Company shall specifically advise the insured of the reasons for its determination. If the
Company concludes that the lien, encumbrance, adverse claim or defect is valid, the Compa-
ny shall take one o11he following actions: (i) institute the necessary proceedings to clear the
lien, encumbrance, adverse claim or defect from the title to the estate as insured; (8) indemnify
the Insured as provided in this policy; (iii) upon payment of appropriate premium and charges
therefor, issue to the insured claimant or to a subsequent owner, mortgagee or holder of the
estate or interest in the land insured by this policy, a policy of title insurance without exception
for the lien, encumbrance. adverse claim or detect, said policy to be in an amount equal to the
current value of the properly or, if a mortgagee policy, the amount of the loan; (iv) indemnify
another title insurance company in connection with its issuance 01 a policy(ies) 01 title
without exception for the lien, encumbrance, adver claim or defect; (v) secure a
release or adverse claim
other document discharging the lien, encumbrance, adverse claim or defect; or (vi)
undertake a combination 01 (i) Through (0) herein_
4. DEFENSE AND PROSECUTION OF ACTIONS: DUTY OF INSURED
CLAIMANT TO COOPERATE.
(a) Upon written request by the insured and subject to the options contained in Section 6
of these Conditions and Stipulations, the Company, al its own cost and without unreasonable
delay, shall provide for the defense of an insured in litigation in which any Third party asserts a
claim adverse to the 1i11e or interest as insured, but only as to those staled causes of action
B 1178 -IA
CONDITIONS AND STIPULATIONS
alleging a detect, lien or encumbrance or other matter insured against by This policy. The
Company shall have the right to select counsel of its choke (subject to the right of the insured
to object for reasonable cause) to represent the insured as to [nose staled causes of action
and shall not be liable for and will not pay the fees of any other counsel. The Company will not
pay any fees, costs or expenses incurred by the insured in the defence of those causes of
action that allege matters not insured against by this policy.
(b) The Company shell have the right, at its own cost, to institute and prosecute any
action or proceeding or to do any other ad that in its opinion may be necessary or desirable to
establish the title to the estate or interest, s insured. or to prevent or reduce loss or damage to
the insured. The Company may lake any appropriate action under the terms of this policy,
whether or not it shall be liable hereunder, and shall not thereby concede liability or waive any
provision of this policy. If the Company shall exercise its rights under this paragraph, it shall do
so diligently.
(c) Whenever the Company shall have brought an action or interposed a defense as
required or permitted by the provisions of this policy, the Company may pursue any litigation to
final determination bye court of competent jurisdiction and expressly reserves the right, in its
sole discretion, to appeal from any adverse judgment or order.
(d) In all cases where this policy permits or requires the Company to prosecute or
provide for the defense of any action or proceeding, the insured shall secure to the Company
the right to so prosecute or provide defense In the action or proceeding, and all appeals
therein, and permit the Company to use, at its option, the name of the insured for this purpose.
Whenever requested by the Company, the insured, at the Company's expense, shall give the
Company all reasonable aid (i) in any adios or proceeding, securing evidence, obtaining
witnesses. prosecuting or defending the action or proceeding, On effecting settlement, and (li)
any other lawful act that to the opinion of the Company may be necessary or desirable to
establish the title to the estateor interest as insured. lithe Company is prejudiced by the failure
of the insured to furnish the required cooperation, the Company's obligations to the insured
under the policy shall terminate, including any liability or obligation to defend, prosecute, or
continue any litigation, with regard to the matter or matters requiring such cooperation.
5. PROOF OF LASS OR DAMAGE.
In addition to and after the notices required under Section 3 of These Conditions and
Stipulations haws been provided the Company, a proof of loss or damage signed and sworn to
by the insured claimant shall be furnished to the Company within 91 days after the insured
claimant shall ascertain the facts giving rise to the loss Or damage. The proof of loss or
damage Shall describe the defect in, or lien or encumbrance on the title. or other matter
insured against by this policy That constitutes the basis of loss or damage and shall stale, to
the extent possible, the basis of calculating the amount of the loss or damage. If the Company
is prejudiced by the failure of the insured claimant to provide the required proof of loss or
damage, the Company's obligations to the insured under the policy shall terminate, including
any liability or obligation to defend, prosecute, or continue any litigation, with regard to the
matter or matters requiring such proof of loss or damage.
In addition, the insured claimant may reasonably be required to Submit to examination
under oath by any authorized representative of the Company and shall produce for examina-
tion, inspection and copying, al such reasonable times and places as may be designated by
any authorized representative of the Company, all records, books, ledgers, checks, corre-
spondence and memoranda, whether bearing a date before or atter Date of Policy, which
reasonably pertain to the loss or damage Further, t1 requested by any authorized represenla-
tive of the Company, the insured claimant shall grant its permission, in writing, for any
authorized representative of the Company to examine, inspect and copy all records, books,
ledgers, checks, correspondence and memoranda in the custody or control of a third party,
which reasonably pertain to the loss or damage. All information designated as confidential by
the Insured claimant provided to the Company pursuantl0 this Section shall not be disclosed
to others unless, in the reasonable judgment of the Company, it is necessary in the adrninistra-
tion of the claim. Failure of the insured claimant submittor examination under oath, produce
other reasonably requested information Or grant permission to secure reasonably necessary
information from Third parties as required in this paragraph shall terminate any liability of the
Company under this policy as to that claim.
6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY.
In case of a claim under this policy, the Company shall have the following additional
options:
(a) To Pay or Tender Payment of the Amount of Insurance.
To pay or lender payment of the amount of insurance under this policy, together with any
costs, attorneys' lees and expenses Incurred by the insured claimant, which were authorized
by the Company, up to the time of payment or tender of payment and which the Company is
obligated to pay.
Upon the exercise by the Company of this option, all liability and obligations to the
insured under this policy, other than to make the payment required, shall terminate, including
any liability or obligation to defend, prosecute, or continue any litigation, and the policy shall
be surrendered to the Company for cancellation.
(b) To Pay or Otherwise Settle With Parties Other than the Insured or With the Insured
Claimant.
(I) to pay or otherwise settle with other partial for or in the name of an Insured
claimant any claim insured against under this policy, together with any costs, attorneys' lees
and expenses incurred by the insured claimant which were authorized by the Company up to
the time of payment and which the Company is obligated to pay; or
(ii) to pay or otherwise settle with the insured claimant the loss or damage provided
for under this policy, together with any costs. attorneys' lees and expenses incurred by the
insured .claimant which were authorized by the Company up to the lime of payment and which
the Company is obligated to pay.
Upon the exercise by the Company of either o11he options provided far in paragraphs
(b)(i) or (n), the Company's obligations to the insured under this policy for the claimed loss or
damage, other Ihan the payments required to be made, shall terminate, including any liability
or obligation to defend, prosecute or continue any litigation.
Issued with Policy No.
Amount of Insurance: $ 86,664.00
❑R9 ❑R13 ❑R16
SCHEDULE A
Premium:$ 835.00 Date of Policy: December 31, 2003 at 3:24 P. m.
1. Name of Insured: CITY OF ROUND ROCK, TEXAS
2. The estate or interest in the land that is covered by this policy is:
FEE SIMPLE
3. Title to the estate or interest in the land is insured as vested in:
CITY OF ROUND ROCK, TEXAS
Texas Owner Policy T -1 (Rev. 1 -1 -93)
Schedule A
Form 1178 -3
ORIGINAL
Policy No. 175 - 0010286
File No. GF 01047679 WF
4. The land referred to in this policy is described as follows:
0.295 of an acre of land, more or less, of Lot 22, of WILDW00D
COUNTRY, a subdivision in Williamson County, Texas, according
to the map or plat thereof recorded in Cabinet D, Slides 58 -59,
Plat Records, Williamson County, Texas, and being more fully
described by metes and bounds in Exhibit "A" attached hereto
and made a part hereof.
NOTE: The Company does not represent that the above acreage or
square footage calculations are correct.
Valid Only If Schedule B And
Cover Page Are Attached
Issued with Policy No.
Amount of Insurance: $
86.664.00
Date of Policy:
Premium: $ 835.00
1. Name of Insured:
CIIY OF ROUND ROCK, TEXAS
2. The estate or interest in the land that is covered by this policy is:
FEE SIMPLE
3. Title to the estate or interest in the land is insured as vested in:
CITY Of ROUND ROCK, TEXAS
Policy No. 175-00102$b
Texas Owner Policy T -1 (Rev. 1 -1 -93)
Schedule A
Form 1178 -3
File No. OF 01047679 WF
December 31, 2003 at 3:24 P. '
4. The land referred to in this policy is described as follows:
0.295 of an acre of land, more or less. of Lot 22. of WILDWOOD
COUNTRY, a subdivision in Williamson County, Texas, according
to the map or plat thereof recorded in Cabinet D, Slides 58 -59,
Plat Records, Williamson County, Texas, and being more fully
described by metes and bounds in Exhibit "A" attached hereto
and made a part hereof.
NOTE: The Company does not represent that the above acreage or
square footage calculations are correct.
DUPLICATE ORIGINAL C Page I Are Schedule
•
Policy No.: 175- 0010286
File No.:
GF 01041679 WF
SCHEDULE B
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 or easements insured, 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): recorded in Volume 936. Page 507. Deed
Retards, and in Cabinet D, Slides 58 -59, Plat Records. Williamson
County. Texas BUT OMITTING ANY COVENANT. CONDITION OR
RESTRICTION, IF ANY, BASED ON RACE. COLOR, RELIGION. SEX.
HANDICAP. FAMILIAL STATUS. OR NATIONAL ORIGIN UNLESS AND ONLY TO
2. Any discrepancies, conflicts, or shortages in area or bociRala1y Milt gAcf racMtgrrts or protrusions, or
any overlapping of improvements.
3. Homestead or community property or survivorship rights, if any, of any spouse of any insured.
4. Any title 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 right df
area or easement along and across that area.
5. Standby fees, taxes and assessments by any taxing authority for the year ? nag and subsequent years; Ind
subsequent taxes and assessments by any taxing authority for prior years due to change in land usagd 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 fora
previous tax year.
6. The following matters ItM aMMI.r of the documents creating or offering evidence of the matters (We must
insert matters or delete this exception.):
7. An undivided one -half (1/21 interest in the oil, gas and other
minerals as reserved in deed dated June 31. 1971, executed by
James H. Arnold and wife. recorded in Volume 538, Page 649, D l d
Records, Williamson County, lexas, and all rights incident
thereto. Title to said reservation has not been examined
subsequent to its date of execution.
8. Grantors reserved all of the oil, gas and sulphur in and
under the land herein conveyed but waive all rights of
Continued on net page
GEORGETOWN TITHE COMPANY. 1NC.
Texas Owner Policy (Rev. 12/30/99)
Schedule B
Form 1178 -4
By:
Authorized CountersitSa9ture
ORIGINAL Valid only 9 Schedule A and Cover are attached
Policy No.: 175 - 0010286
G.F.No.: 01047679 WF
Continuation of Schedule B
CONTINUATION
PARAGRAPH 1 CONTINUED
THE EXTENT THAT THE COVENANT, CONDITION OR RESTRICTION (a) IS
EXEMPT UNDER TITLE 42 OF THE UNITED STATES CODE, OR (b) RELATES TO
HANDICAP, BUT DOES NOT DISCRIMINATE AGAINST HANDICAPPED PERSONS.
ingress and egress to the surface thereof as set out in
Deed dated December 16, 2003, executed by James M. Ferrero
and wife, Evelyn Jones Ferrero to the City of Round Rock,
Texas, recorded under Document No. 2003124150, Official
Public Records, Williamson County, Texas and all rights
incident thereto. Title to said reservation has not been
examined subsequent to the date of its execution.
9. Easement dated October 28, 1941, to Texas Power & Light Company
recorded in Volume 310, Page 435, Deed Records, Williamson
County, Texas, if located so as to affect.
10. Easement dated June 22, 1956, to Texas Power & Light Company
recorded in Volume 413, Page 494, Deed Records, Williamson
County, Texas, if located so as to affect.
11. Easement dated May 31, 1960, to Texas Power & Light Company
recorded in Volume 440, Page 247, Deed Records, Williamson
County, Texas, if located so as to affect.
12. 10' public utility easement along the south lot line and 10'
easement for future road widening along the west lot line as
shown on plat recorded in Cabinet D, Slides 58 -59, Plat
Records, Williamson County, Texas.
13. Easement dated February 29, 1984, granted by L. B. Cox and
Doris Jeanette Cox to Texas Power & Light Company of Dallas,
Texas, as described in instrument recorded in Volume 1126, Page
296, Official Records, Williamson County, Texas.
14. The rights of Upper Brushy Creek Water Control and Improvement
District to levy taxes and issue bonds.
15. Rights of parties in possession.
16. Any visible and apparent easement, either public or private,
the existence of which is not disclosed by the public records
as defined herein, including, but not limited to, roads or
utilities in use on the land.
* including taxes levied by Upper Brushy Creek Water Control and
Improvement District,
Continuation
Form 2076
ORIGINAL
FOR A 0295 ACRE (12,895.19 SQUARE FEET) TRACT OF LAND SITUATED IN THE
ROBERT MCNUTT SURVEY, ABSTRACT NO. 422, IN WILLIAMSON COUNTY, TEXAS,
BEING A PORTION OF LOT 22 OF "WILDWOOD COUNTRY" A SUBDIVISION
ACCORDING TO THE PLAT THEREOF RECORDED IN CABINET D SLIDE 58 OF THE
PLAT RECORDS OF SAID COUNTY, SAID 0.295 ACRE TRACT BEING MORE
PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING on a PK nail found on a point being the northwest corner of said Lot 22, same being the
intersecting point of the south right -of -way line of Country Drive (50 -feet in tight-of-way width) and the
easterly right -of -way line of C.R. 122 (right -of -way width varies) hereof;
THENCE with the south right-of-way line of Country Drive, same being the north boundary line of said
Lot 22, N87 "E for a distance of 66.39 -feet to an iron rod set on a point of curvature hereof and from
which an iron rod found on a point in the south right -of -way line of said Country Drive, same being the
most northeast comer of said Lot 22, also being the most northwest corner of Lot 21 of said Subdivision,
bears N87'55'06 "E a distance of 95.29 -feet:
THENCE departing the south rightof- -way line of said Country Drive, through the interior of said Lot 22,
with the are of a curve to the left, having a radius of 20.00 -feet, a central angle of 88 ° 59'07" a arc length of
3L06 -feet, and a chord which bears 543 "W for a distance of 28.03 -feet to an iron rod set on a point
of tangency hereof;
THENCE continuing through the interior of said Lot 22, S01 "E for a distance of 261.22 -feet to an
iron rod set on a point in the south boundary Line of said Lot 22, same being the easterly right-of -way line
of said C.R 122, hereof, and from which an iron rod found on a point in the south boundary line of said Lot
22, same being the most northwesterly corner of Lot 1 of "The Reserves at Oak Bluff Estates" a
subdivision according to the Plat thereof recorded in Cabinet L Slide 176 of the Plat Records of said
County, bears S89 ° 54'50 "W a distance of 1.18 -feet;
THENCE with the south boundary line of said Lot 22, same easterly right -of -way line of said C.R. 122,
N89 ° 54'50 "Vt( for a distance of 44.39 -feet to a PK nail found on a point being the most southwest corner of
said Lot 22 hereof;
THENCE continuing with the easterly right -of -way line of said C.R. 122, same being the west boundary
line of said Lot 22, N01 ° 39' 16 "W for a distance of 220.96 -feet to an angle point hereof;
THENCE continuing with the easterly right-of-way line of said C.R. 122, same being the west boundary
line of said Lot 22, N01 ° 09'00 "W Bearing Basis/Directional Control Line) for a distance of 58.20 -feet to
the POINT OF BEGINNING hereof and containing 0.295 acre of land.
Surveyed under the direct supervision of the undersigned:
122WCL22.DOC
Donald I. Kirby
Registered Profession 41 Land Surveyor No. 2508
Baker Aicklen & Assoc.
203 E. Main St. Ste. 201
Round Rock, Tx. 78664
DESCRIPTION
Georgetown Title Company, Inc.
Privacy Policy Notice
PURPOSE OF THIS NOTICE
Title V of the Gramm•Leach•Bliley Act (GLBA) generally prohibits any financial institution. directly or through its affiliates. from sharing
nonpublic personal information about you with a nonaffiliated third party unless the institution provides youwith a notice of its privacy
policies and practices. such as the type of information that it collects about you and the categories of persons or entities to whom it may
be disclosed. In compliance with the GLBA. we are providing you with this document, which notifies you of the privacy policies and
practices of Georgetown Title Company, Inc.
We may collect nonpublic personal information about you from the following sources:
• Information we receive from you. such as on applications or other forms.
• Information about your transactions we secure from our files, or from our affiliates or others.
• Information we receive from a consumer reporting agency.
• Information that we receive from others involved in your transaction. such as the real estate agent or lender.
Unless it is specifically stated otherwise in an amended Privacy Policy Notice. no additional nonpublic personal information will be
collected about you.
We may disclose any of the above information that we collect about our customers or former customers to our affiliates or to
nonaffiliated third parties as permitted by law_
We also may disclose this information about our customers or former customers to the following types of nonaffiliated companies that
perform marketing services on our behalf or with whom we have joint marketing agreements:
• Financial service providers such as companies engaged in banking, consumer finance. securities and insurance.
• Non•financial companies such as envelope stutters and other fulfillment service providers.
WE 00 NOT OISCLOSE ANY NONPUBLIC PERSONAL INFORMATION ABOUT YOU WITH ANYONE FOR ANY PURPOSE THAT
IS NOT SPECIFICALLY PERMITTED BY LAW.
We restrict access to nonpublic personal information about you to those employees who need to know that information in order to
provide products or services to you. We maintain physical. electronic, and procedural safeguards that comply with federal regulations
to guard your nonpublic personal information.
LANDAMERJCA
PRIVACY POLICY NOTICE
Dear LandAmerica Customer:
The Financial Services Modernization Act recently enacted by Congress has brought
many changes to the financial services industry, which includes insurance companies
and their agents. One of the changes is that we are now required to explain to our
customers the ways in which we collect and use customer information.
The statement attached to or on the reverse side of this letter is the privacy policy of the
LandAmerica family of companies. The three largest members of the family —
Commonwealth Land Title Insurance Company, Lawyers Title Insurance Corporation,
and Transnation Title Insurance Company — may issue policies and handle real estate
closings in virtually every part of the country. A number of other companies in the
family provide other real estate services, and some operate more locally. You may
review a list of LandAmerica companies on our website (www.tandam.cam). You may
also visit our website for an explanation of our privacy practices relating to electronic
communication.
Our concern with the protection of your information has been a part of our business
since 1876, when the company that is now Commonwealth Land Title Insurance
Company issued its first policy. We will continue to protect the privacy, accuracy, and
security of customer information given to us.
No response to this notice is required, but if you have questions, please write to us:
LandAmerica Companies
Title Insurance Companies: Commonwealth Lind Title Insurance Company, Commonwealth Land Title Insurance Company of New
Jersey. Industrial Valley Title Insurance Company, Land Title Insurance Company. Lawyers Title Insurance Corporatimr, Title Insurance
Company of America, Transnation Title Insurance Company, Transnadon Title Insurance Company of New York
Relocation and Mortgages: Commonwealth Relocation Services, CRS Financial Services, Inn., LandAmerica Account Servicing. Inc.
Title Agents: Austin Title Company, ATACO, Inc., Albuquerque Title Company, Atlantic Title & Abstract Company, Brighton Title
Services Company, Capitol City Title Services, Inc., CFS Title Insurance Agency, Charleston Title Agency; Charter Title Company of
Fort Bend, Galveston, and Sugarland; Commercial Settltsneots, Inc., Commonwealth Land Title Company: Commonwealth Land Title
Company of Austin, Dallas, Fort Worth, Houston, Washington, Congress Abstract Cap., Cornerstone Residential Title, Cumberland
Tide Company, First Title & Escrow, Inc., Gulf Atlantic, Harbour Title, HL Title Agency, Lawyers Title Company; Lawyers Tide of
Arizona, El Paso, Galveston, Nevada, Pueblo, San Antonio, Lawyers Title Settlement Company, Lion Abstract, Longworth Insured,
Louisville Tide Agency of Central Ohio, Lorain County Title Company, Mil Title Agency, NIA) Lawyers Title Agency, Oregon Title,
Park Title, Partners Title Company, Pikes Peak Title Services, RP/Affirm Title Agency, Rainier Title Company, Residential Abstract,
Residential Title, Rio Rancho Title, Texas Title Company, Title Transfer Service, Inc., TransOhio Reside tial Tide Agency, Transnation
Tide & Escrow, Union Title Agency, University Title Services, Wilson Title Company
Appraisals and Ancillary Services: LandAmerica OneStop, Inc.
FORM 3391 -6 (May 21101)
LandAmerica Privacy
P.O. Box 27567
Richmond, VA 23261 -7567.
What kinds of information we collect. Most of LandAmerica's business is title insurance, but there
are companies in our family that provide other real estate services to consumers. We collect
information about you, (for instance, your name, address, telephone number), and information about
your transaction, including the identity of the real property that you are buying or financing. We obtain
a copy of any deeds, notes, or mortgages that are involved in the transaction. We may get this
information from you or from the lender, attorney, or real estate broker that you have chosen. Our title
insurance companies then obtain information from the public records about the property so that we can
prepare a title insurance policy. When we provide closing, escrow, or settlement services, mortgage
lending, or mortgage loan servicing, we may get your social security number, and we may receive
additional information from third parties including appraisals, credit reports, land surveys, escrow
account balances, and sometimes bank account numbers to facilitate the transaction. If you are
concerned about the information we have collected, please write to us.
How we use this information. The company giving or specifically adopting this notice does not share
your information with marketers outside its own family. There's no need to tell us to keep your
information to ourselves because we share your information only to provide the service requested by
your or your lender, or in other ways permitted by law. The privacy laws permit some sharing without
your approval. We may share internally and with nonaffiliated third parties in order to carry out and
service your transaction, to protect against fraud or unauthorized transactions, for institutional risk
control, and to provide information to government and law enforcement agencies. Companies within a
family may share certain information among themselves in order to identify and market their own
products that they think may be useful to you. Credit information about you is shared only to facilitate
your transaction or for some other purpose permitted by law.
How we protect your information. We restrict access to nonpublic personal information about you to
those employees who need the information to provide products or services to you. We maintain
physical, electronic, and procedural safeguards that comply with law to guard your nonpublic personal
information. We reinforce the company's privacy policy with our employees.
Agents that may be covered by this policy. Often, your transaction goes through a title insurance
agent. Agents that are part of the LandAmerica family are covered by this policy. Agents that are not
part of the LandAmerica family may specifically, in writing, adopt our policy statement.
FORM 3391 -6 (May 2001)
LANDAMERICA PRIVACY POLICY
7. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE.
This policy Is a contract of indemnity against actual monetary loss or damage
sustained or incurred by the Insured claimant who has suffered loss or damage by
reason of matters insured against by this policy and only to the extent herein
described.
(a)The (lability of the Company under this policy shall not exceed the least of:
(I) the Amount of Insurance stated in Schedule A;
(II) The difference between the value of the insured estate or interest as
Insured and the value of the insured estate or Interest subject to the defect, lien or
encumbrance insured against by this policy at the date the insured claimant is required
to furnish to Company a proof of loss or damage in accordance with Section 5 of these
Conditions and Stipulations.
(b) In the event the Amount of Insurance staled in Schedule A at the Date of
Policy is less than 80 percent of the value of the insured estate or interest or the lull
consideration paid for the land, whichever is less, or if subsequent to the Dale of
Policy an improvement is erected on the land which increases the value of the insured
estate or interest by at least 20 percent over the Amount of Insurance stated in
Schedule A, then this Policy is subject to the following:
(p where no subsequent improvement has been made, as to any padial loss,
the Company shall only pay the loss pro rata in the proportion 'that the amount of
insurance at Dale of Policy bears to the total value of the Insured estate or interest at
Date 6f Policy; or
(ii) where a subsequent improvement has been made, as to any partial loss.
the Company shall only pay the loss pro rata in the proportion that 120 percent of the
Amount of Insurance stated in Schedule A bears to the sum of the Amount of
Insurance stated in Schedule A and the amount expended for the Improvement.
The provisions of this paragraph shall not apply to costs, attorneys' fees
and expenses for which the Company is liable under this policy, and shall only apply to
'that portion of any loss which exceeds, in the aggregate, 10 percent of the Amount of
Insurance stated in Schedule A.
(c) The Company will pay only those costs, attorneys' fees and expenses incurred
In accordance with Section 4 of these Conditions and Stipulations,
9. APPORTIONMENT.
If the land described In Schedule A consists of two or more parcels that are not used
as a single site, and a loss is established affecting one or more of the parcels but not
all, the loss shall be computed and settled on a pro rata basis as if the amount of
insurance under this policy was divided pro rata as to the value on Date of Policy of
each separate parcel to the whole, exclusive of any Improvements made subsequent
to Date of Policy, unless a liability or value has otherwise been agreed upon as to each
parcel by the Company and the insured at the time of the issuance of this policy and
shown by an express statement or by an endorsement attached to this policy.
9. LIMITATION OF LIABILITY.
(a) If the Company establishes the title, or removes the alleged defect, lien or
encumbrance, or cures the lack of a right of access to or from the land, all as insured,
or lakes action in accordance with Section 3 or Section 8, In a reasonably diligent
manner by any method, including litigation and the completion of any appeals
therefrom, 11 shall have fully performed its obligations with respect to that matter and
shall not be liable tor any loss or damage caused thereby.
(b) In the event of any litigation, including litigation by the Company or with the
Company's consent, Me Company shall have no liability for loss or damage until there
has been a final determination by a court of competent jurisdiction, and disposition of
all appeals therefrom, adverse to the tide as insured.
(c) The Company shall not be liable for loss or damage to any insured for
liability voluntarily assumed by the Insured in settling any claim or suit without the prior
written consent of the Company.
10. REDUCTION OF INSURANCE: REDUCTION OR TERMINATION OF LIABILITY.
All payments under this policy, except payments made for costs, attorneys' fees and
expenses, shall reduce the amount of the insurance pro lento.
11. LIABILITY NONCUMULATIVE.
It is expressly understood that the amount of insurance under this policy shall be
reduced by any amount the Company may pay under any policy insuring a mortgage
to which exception is taken in Schedule B or Ir which the insured has agreed,
assumed, or taken subject, or which is hereafter executed by an insured and which is
a charge or lien on the estate or Interest described or referred to in Schedule A, and
the amount so paid shall be deemed a payment under this policy to the insured owner.
12. PAYMENT OF LOSS.
(a) No payment shall be made without producing this policy for endorsement
of the payment unless the policy has been lost or destroyed, in which case proof of
loss or destruction shall be furnished to the satisfaction of the Company.
(b) When liability and the extent of loss or damage has been definitely fixed in
accordance with these Conditions and Stipulations, the loss or damage shall be
payable within 30 days thereafter.
13. SUBROGATION UPON PAYMENT OR SETTLEMENT.
(a) The Company's Right of Subrogation.
Whenever the Company shall have settled and paid a claim under this policy, all
right of subrogation shall vest in the Company unaffected by any act of the insured
claimant.
The Company shall be subrogated to and be entitled to all rights and remedies
that the insured claimant would have had against any person or property in respect to
the claim had this policy not been Issued. If requested by the Company, the insured
claimant shall transfer to the Company all rights and remedies against any person or
properly necessary in order to perfect this right of subrogation. The insured claimant
shall permit the Company to sue, compromise or settle in the name of the insured
claimant and to use the name of the Insured claimant in any transaction or litigation
involving these rights or remedies.
II a payment on account of a claim does not fully cover the loss of the insured
claimant, the Company shall be subrogated to these rights and remedies in the
proportion which the Company's payment bears to the whole amount of the loss.
Texas Owner Policy T -1 (Rev. 10-1-97)
Cover Page
Form 1178-2
CONDITIONS AND STIPULATIONS
(Continued)
0501 6
(16261191111
11 loss should result from any act of the Insured claimant, as stated above. that act
shall not void this policy, but the Company, In that event, shall be required to pay only
Mat pan of any lasses Insured 8981051 by this policy that shall exceed the amount, if
any, lost to the Company by reason of the impairment by the Insured claimant of the
Compan s right of subrogation.
(b) The Company's Rights Against Non - insured Obligors,
The Company's fight of subrogation against non - Insured obligors shall exist and
shall include, without limItatfon, the dghts of the insured to indemnities, guaranties,
other policies of Insurance or bonds, notwithstanding any terms or conditions
contained in those instruments that provide for subrogation rights by reason of this
policy.
14. ARBITRATION.
"Unless prohibited by applicable law or unless this arbitration section is deleted by
specific provision in Schedule B o1 this policy, either the Company of the Insured may
demand arbitration pursuant to the Title Insurance Arbitration Rules or the American
Arbitration Association. Arbitrable matters may include, but are not limited lo, any
controversy or claim between the Company and the Insured arising out of or relating to
this Policy, and service of the Company in connection with its issuance or the breach
of a policy provision or other obligation. All arbitrable matters when the Amount of
Insurance is 51,000,000 or less SHALL BE arbitrated at the request of etther the
Company or the Insured, unless the Insured Is an Individual person (as distinguished
from a corporation, tnlsl, partnership, association or other legal entity). All arbitrable
matters when the Amount of Insurance is in excess of $1,000,000 shall be arbitrated
only when agreed to by both the Company and the Insured. Arbitration pursuant to
this Policy and under the Rules in effect on the date the demand for arbitration Is made
or. at the option of the Insured, the Rules In effect at the Dale of Policy shall be
binding upon the parties. The award may include attorneys' lees only fl the laws of the
state in which the land Is located permit a court to award attorneys' fees to a prevailing
parry. Judgment upon the award rendered by the Arbitrator(s) may be entered in any
court having jurisdiction thereof.
The Law of the shus of the land shall apply to any arbitration under the Title
Insurance Arbitration Rules.
A Copy of the Rules may be obtained ram the Company upon request"
15. LIABILITY LIMITED TO THIS POLICY: POLICY ENTIRE CONTRACT.
(a) This policy together with all endorsements, if any, attached hereto by the
Company is the entire policy and contract between the insured and the Company. In
interpreting any provision of this policy, this policy shall be construed as a whole.
(b) Any claim of loss or damage, whether or not based on negligence, and
which arises out of the status of the title to the estate or interest covered hereby or by
any action asserting such claim, shall be restricted to this policy.
(c) No amendment of or endorsement to this policy can be made except by a
writing endorsed hereon or attached hereto signed by either the President, a Vice
President, the Secretary, an Assistant Secretary, or validating officer or authorized
signatory of the Company.
16. SEVERABILTTY.
In the event any provision of the policy Is held Invalid or unenforceable under
applicable law, the policy shall be deemed not to include that provision, and all other
provisions shall remain in full force and effect. •
17. NOTICES, WHERE SENT.
All notices required to ire given the Company and any statement in writing
required to be furnished the Company shall include the number of this policy
and shall be addressed lo: Consumer Affairs Department, P.O. Box 27567,
Richmond, Virginia 23261 -7567.
COMPLAINT NOTICE.
Should any dispute arise about your premium or about a claim that
you have flied, contact the agent or write to the Company that Issued
the policy. If the problem is not resolved, you also may write the Texas
Department of Insurance, P.O. Box 149091, Austin, TX 78714 -9091, Fax
No. (512) 475 -1771. This notice of complaint procedure is for
Information only and does not become a part or condition of this
policy.
FOR INFORMATION, OR
TO MAKE A COMPLAINT, CALL:
1- 800 - 925 -0965
PARA INFORMATION, 0
PARA HACER UNA QUEJA, HABLE
1 -800- 925 -0965
TEXAS OWNER
PO LICY OF
TITLE INSURANCE
Issuer, By
COMMONWEALTH LAND TITLE INSURANCE COMPANY
Commonwealth
LANDAMFRIG mMFAN
Title Insurance Since 1876
HOME OFFICE:
101 Gateway Centre Parkway, Gateway One
Richmond, Virginia 23235-5153
B 117B -2
A WORD OF THANKS
As we make your policy a part of our permanent
records, we want to express our appreciation
of this evidence of your faith in Commonwealth
Land Title Insurance Company.
There is no recurring premium.
This policy provides valuable title protection and
we suggest you keep it in a safe place where it
will be readily available for future reference.
If you have any questions about the protection
provided by this policy, contact the office that
issued your policy or you may write to:
Consumer Affairs Department
Commonwealth Land Title
Insurance Company
7557 Rambler Road, Suite 1200
Dallas, Texas 75231
TOLL FREE NUMBER: 1 -800- 925 -0965