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R-89-1285 - 5/25/1989- Southern Title t ( 0 7 AUSTIN HOME OFFICE: 9 CONGRESS SUITE 500, 4(1571N, TEXAS 7070 1, 5 Texas WATS 800-772-015a T -1A GF No. or File No.: GF 89014322 KH Date of Policy: July 26, 1989 Name of Insured: CITY OF ROUND ROCK SCHEDULE A 1. The estate or interest in the land insured by this policy is: (Fee Simple, leasehold, easements, etc., - identify or describe) FEE SIMPLE 2. The land referred to in this policy is described as follows: Owner Policy No.: 0 403576 Amount: $ 10,000.00 1.935 acres of land, more or less, out of the JOSEPH MARSHALL SURVEY, Abstract No. 409, in Williamson County, Texas, and being more fully described by metes and bounds in Exhibit "A" attached hereto and made a part hereof. Southern Title G uaranty Co .,Inc. GF 89014322 KH , SCHEDULE B Owner Policy No.: 0 40357A This policy is subject to the Conditions and Stipulations hereof, the terms and conditions of the leases or easements insured, if any, shown in Schedule A, and to the following matters which are additional exceptions from the coverage of this policy: 1. The following restrictive covenants of record itemized below (the Company must either insert specific recording data or state "None of Record "): NONE OF RECORD 2. Any discrepancies, conflicts, or shortages in area or boundary lines, or any encroachments, or any overlapping of improvements. 3. Taxes for the year 19 89 and subsequent years, and subsequent assessments for prior years due to change in land usage or ownership. 4. The following lien(s) and all terms, provisions and conditions of the instrument(s) creating or evidencing said lien(s): NONE 5. Easement to Texas Power and Light Company dated July 1, 1940, referred to in deed dated November 3, 1943, from Bankers Life Company to H. N. Delancey, recorded in Volume 320, Page 53, Deed Records, Williamson County, Texas (easement was not found of record). 6 Easement dated August 12, 1985, from Clarence Telander and Arnold Telander to City of Round Rock, recorded in Volume 1235, Page 632, Official Records, Williamson County, Texas (if still effective). 7. The company does not guarantee the adequacy, nor guarantee against the failure of consideration as to that part of the consideration not paid in cash. 8. Failure of this property to have access to a public road by reasons of a recorded easement. 9. Rights of parties in possession. 10. Visible and apparent easements, if any. COUNTERSIGNED: GEORGETOWN TITLE COMPANY, INC. Agent Authorized Officer TITLE GUARANTY CO., INC. out of the JOSEPH MARSHALL SURVEY A -409, n[ 7 rcT25 Corcribing a .tract of land /", cor000 a portion of that certain 73 acrd tract ooavcycd to Uortil ?Tlandor found of r000rd in Volume 866, !NW* ,007 o_ t'a Cz d nocor' of Mil/Lamson County, Tarsi. GZO.T._Z!I::0 et t point in the Worth line of said Telandor tract for the dorthw ct co=r borcof ^w.4 being 555 "l9, 1605.70 foot from the Nortneagst corner of cola traot1 c:5CS fifty foot (50') southerly of and parallel to the Center line of tbo 16 a of Railroad track*, 1374.00 feet to tho Point of Curvature of a curvo to tho right) • ?11.05 foot elorv3 the a=e of said curve, having m radium of 260.0 feet and n cub Loosing end distance of 870 °51'15 "E, 291.30 foot to a point in t ?:o Fat lire of acid Telc^.der treat for tho tlortheast corner hereof and also acing in the Boat line of tho remainder of that tract convoyed to William E. t:sG tt,y, Jr. (dbo =die' aa:C .rthy) found of record in Volum* 537, Pogo 166 of Ada Docc3 records) Go0°55'.20 "S, 92.17 toot along trio common line batman *aid 7.'elandor and 1 = treats to tho ff- uthonat corner horoofl _I:CE eouth .'torly 910.e5 foot along the aro of a curve to the left, being it foot cout'hcrly of and parallel to trio last doaoribed curved lino, having a r: iu, of 300.00 foot end i cub -chord boating trod distance of 1460 °53'5, �O5.07 £cot to the Point of Tangency of said curve) , 1 = 255 9o'C{, 1371,00 £Cot to trio Southwest oorner hereof/ rC:c:c! t13'1730'U, 50.00 foot to trio Point of 9oginning of this debOribed c===ant cont`+ninq 1,$35 Toren or 64,307 equate toot of land. 1. DEFINITIONS The following terms when used in this policy mean: (a) "land ": The land described, specifically or by reference, in Schedule A, and improvements affixed thereto which by law constitute real property. (b) "public records ": Those records which impart constructive notice of matters relating to the land. (c) "knowledge ": Actual knowledge, not construc- tive knowledge or notice which may be Imputed to the In- sured by reason of any public records. (d) "date ": The effective date, including hour if specified. (e) "insured ": The Insured named in Schedule A and, subject to any rights or defenses the Company may have had against the named Insured or any person or en- tity who succeeds to the interest of such named Insured by operation of law as distinguished from purchase, any person or entity who succeeds to the interest of such named Insured by operation of law as distinguished from purchase including but not limited to the following: (1) heirs, devisees, distributees, executors and ad- ministrators; (ii) the successors in interest to a corporation resulting from merger or consolidation or the distribution of the assets of such corporation upon partial or complete liquidation; (iii) the partnership successors in interest to a general or limited partnership which dissolves but does not terminate; (Iv) the successors in interest to a general or limited partnership resulting from the distribution of the assets of such general or limited partner- ship upon partial or complete liquidation; (v) the successors in interest to a joint venture resulting from the distribution of the assets of such joint venture upon partial or complete liquidation; (vi) the successor or substitute trustee of a trustee named In a written trust instrument; or (vii) the successors in interest to a trustee or trust resulting from the distribution of all or part of the assets of such trust to the beneficiaries thereof. 2. EXCLUSIONS FROM THE COVEREAGE OF THIS POLICY THE POLICY DOES NOT INSURE AGAINST LOSS OR DAMAGE BY REASON OF THE FOLLOWING: (a) LACK OF ADEQUATE TITLE IN THE INSURED PROPERTY TO ALLOW IT TO BE USED, SOLD, TRANSFERRED, LEASED OR MORTGAGED FOR ANY PURPOSE INTENDED BY THE INSURED NOR LOSS OF OPPORTUNITY OR ECONOMIC EXPECTATION. (b) Governmental rights of police power or eminent domain unless notice of the exercise of such rights appears in the public records at the date hereof; and the conse- quences of any law, ordinance or governmental regulation including, but not limited to, building and zoning ordinances. CONDITIONS AND STIPULATIONS (c) Any titles or rights asserted by anyone including, but not limited to, persons, corporations, govemments or other entitles to tidelands, or lands comprising the shores or beds of navigable or perennial rivers and streams, lakes, bays, gulfs or oceans, or to any land extending from the line of mean low tide to the line of vegetation, or to lands beyond the line of the harbor or bulkhead lines as established or changed by any government, or to filled -In lands, or artiflclal islands, or to riparian rights, or the rights or Interests of the State of Texas or the public generally in the area extending from the line of mean low tide to the line of vegetation or their right of access thereto, or right of easement along and across the same. (d) Defects, liens, encumbrances, adverse claims, or other matters (1) created, suffered, assumed or agreed to by the Insured; (2) not known to the Company and not shown by the public records but known to the Insured either at the date of this policy or at the date the Insured acquired an estate or interest insured by this policy and not disclosed In writing by the Insured to the Company prior to the date such Insured became an Insured hereunder; (3) resulting in no loss or damage to the In- sured; (4) attaching or created subsequent to the date of this policy; (5) resulting in loss or damage which would not have been sustained if the Insured had paid value for the estate or interest insured by this policy; or (6) the homestead or community property or survivorship rights, if any, of any spouse of any Insured. 3. DEFENSE AND PROSECUTION OF ACTIONS (a) In all cases where this policy provides for the defense of any action or proceeding, the Insured shall secure to the Company the right to so provide defense in such action or proceeding, and all appeals therein, and permit It to use, at its option, the name of the Insured for such purpose. (b) The Company shall have the right to select counsel of its own choice whenever it is required to defend any action or proceeding, and such counsel shall have complete control of said defense. (c) The Company shall have the right at its own cost to institute and without undue delay prosecute any action or proceeding or to do any other act which in its opinion may be necessary or desirable to establish the title to the estate or interest as insured, and the Company may take any appropriate action under the terms of the policy, whether or not it shall be liable thereunder, and shall not thereby concede liability or waive any provision of this policy. When, after the date of the policy, the Insured notifies the Company as required herein of a lien, encum- brance, adverse claim or other defect in title to the estate or Interest in the land insured by this policy which is not excluded or excepted from the covereage of this policy, the Company shall promptly investigate such 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 time, of its determination as to the validity or (Continued below) SOUTHERN TITLE GUARANTY CO., INC., a Texas corporation, hereinafter called the Company, for value does hereby guarantee to the Insured (as herein defined) that as of the date hereof, the Insured has good and indefeasible title to the estate or interest in the land described or referred to in this policy. The Company shall not be liable in a greater amount than the actual monetary loss of the Insured, and in no event shall the Company be liable for more than the amount shown in Schedule A hereof, and shall, except as hereinafter stated, at its own cost defend the Insured in every action or proceeding on any claim against, or right to the estate or interest in the land, or any part thereof, adverse to the title to the estate or interest in the land as hereby guaranteed, but the Company shall not be required to defend against any claims based upon matters in any manner excepted under this policy by the exceptions in Schedule B hereof or excluded by Paragraph 2, "Exclusions from Coverage of this Policy", of the Conditions and Stipulations hereof. The party or parties entitled to such defense shall within a reasonable time after the commencement of such action or proceeding, and in ample time for defense therein, give the Company written notice of the pendency of the action or proceeding, and authority to defend. The Company shall not be liable until such adverse interest, claim, or right shall have been held valid by a court of last resort to which either litigant may apply, and if such adverse interest, claim, or right so established shall be for less than the whole of the estate or interest in the land, then the liability of the Company shall be only such part of the whole liability limited above as shall bear the same ratio to the whole liability that the adverse interest, claim, or right established may bear to the whole estate or interest in the land, such ratio to be based on respective values determin- able as of the date of this policy. In the absence of notice as aforesaid, the Company is relieved from all liability with respect to any such interest, claim or right; provided, however, that failure to notify shall not prejudice the rights of the Insured if such Insured shall not be a party to such action or proceeding, nor be served with process therein, nor have any knowledge thereof, nor in any case, unless the Company shall be actually prejudiced by such failure. Upon sale of the estate or interest in the land, this policy automatically thereupon shall become a warrantor's policy and the Insured shall for a period of twenty -five years from the date hereof remain fully protected according to the terms hereof, by reason of the payment of any loss, he, they or it may sustain on account of any warranty of title contained in the transfer or conveyance executed by the Insured conveying the estate or interest in the land, The Company shall be liable under said warranty only by reason of defects, liens or encumbrances existing prior to or at the date hereof and not excluded either by the exceptions or by the Conditions and Stipulations hereof, such liability not to exceed the amount of this policy. IN WITNESS HEREOF, SOUTHERN TITLE GUARANTY CO, INC. has caused this policy to be executed by its President under the seal of the Company, but this policy is to be valid only when it bears an authorized countersignature, as of the date set forth in Schedule A This policy valid only if Schedules A and B are attached BY Southern Title Guaran ATTEST: /T CC-GCJ Secretary OWNER POLICY (REVISED 1 -1 -88) POLICY 0 403576 OWNER POLICY OF TITLE INSURANCE Fonn Prescribed by State Board of Insurance of Texas Southern 'itle Guaranty co .the T -1 (1 -88)