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HomeMy WebLinkAbout1999-288g\oar No ensWrNnmtta\9 ke Cgien CCagragali0a Hw77 ga ORDINANCE NO qq-900 AN ORDINANCE APPROVING A REAL ESTATE CONTRACT BETWEEN THE CITY OF DENTON AND LAKE CITIES CONGREGATION-DENTON-OF JEHOVAH'S WITNESSES, INC, RELATING TO THE PURCHASE OF 0003 ACRES OF LAND FOR THE EXPANSION OF U S HIGHWAY 77 (PARCEL 34), AUTHORIZING THE EXPENDITURE OF FUNDS THEREFORE, AND PROVIDING AN EFFECTIVE DATE THE COUNCIL OF THE CITY OF DENTON, TEXAS HEREBY ORDAINS SECTION 1 That the City Manager is hereby authorized to execute a Real Estate Contract between the City and Lake Cities Congregation -Denton -of Jehovah's Witnesses, Inc , in substantially the form of the Real Estate Contract which is attached to and made a part of this ordinance for all purposes, for the purchase of 0 003 acres of land for the expansion of U S Highway 77 (Parcel 34) SECTION 2 That the City Manager is authorized to make the expenditures as set forth in the attached Real Estate Contract SECTION 3 That this ordinance shall become effective immediately upon its passage and approval PASSED AND APPROVED this the = day of 1999 JACK LER, MAYOR ATTEST JENNIFER WALTERS, CITY SECRETARY MI APPROVED AS TO LEGAL FORM HERBERT L PROUTY, CITY ATTORNEY BY C-S� r l REAL ESTATE CONTRACT STATE OF TEXAS COUNTY OF DENTON THIS CONTRACT OF SALE is made by and between LMM CITIES CONGREGATION-DENTON-OF JEHOVAH'S WITNESSES, INC (hereinafter referred to as "Seller") and CITY OF DENTON, TEXAS, a home rule municipality, of Denton, Denton County, Texas, (hereinafter referred to as "Purchaser"), upon the terms and conditions set forth herein PURCHASE AND SALE Seller hereby sells and agrees to convey, and Purchaser hereby purchases and agrees to pay for all that certain tract, lot or parcel of land described in Exhibit "A" attached with all rights and appurtenances pertaining to the said property, including any right, title and interest of Seller in and to ad3acent streets, alleys or rights -of -way (all of such real prop- erty, rights, and appurtenances being hereinafter referred to as the "Property"), together with any improvements, fixtures, and personal property situated on and attached to the Property, for the consideration and upon and sub3ect to the terms, provisions, and conditions hereinafter set forth Seller shall pay all cost for the removal, installation, construction, reinstallation, reconstruction, labor and materials for any and/or improvements located within the property described in Exhibit "A" Any improvements not removed by September 1, 1999 shall become property of the City of Denton, Texas PURCHASE PRICE 1 Amount of Purchase Price The purchase price for the Property shall be the sum of $250 00 00 2 Payment of Purchase Price The full amount of the Purchase Price shall be payable in cash at the closing PURCHASER'S OBLIGATIONS The obligations of Purchaser hereunder to consummate the transactions contemplated hereby are sub3ect 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 I Preliminary Title Report Within twenty (20) days after the date hereof, Seller, at Seller's sole cost and expense, shall have caused the Title Company (hereinafter defined) to issue a owners policy commitment (the "Commitment") accompanied by copies of all recorded documents relating to easements, rights -of -way, etc , affecting the Property Purchaser shall give Seller written notice on or before the expiration of ten (10) days after Purchaser receives the Commitment that the condition of title as set forth in the Commitment is or is not satisfactory In the event Purchaser states the condition of title is not satisfactory, Seller shall, at Seller's option, promptly undertake to eliminate or modify all unacceptable matters to the reasonable satisfaction of Purchaser In the event Seller is unable to do so within ten (10) days after receipt of written notice, this Agreement shall thereupon be null and void for all purposes, otherwise, this condition shall be deemed to be acceptable and any objection thereto shall be deemed to have been waived for all purposes 2. Survey Purchaser may, at Purchaser's sole cost and expense, obtain a current survey of the Property, prepared by a duly licensed Texas land surveyor acceptable to Purchaser The survey shall be staked on the ground, and shall show the location of all improvements, highways, streets, roads, railroads, rivers, creeks, or other water courses, fences, easements, and rights -of - way on or adjacent to the Property, if any, and shall contain the surveyor's certification that there are no encroachments on the Property and shall set forth the number of total acres comprising the Property, together with a metes and bounds description thereof Purchaser will have ten (10) days after receipt of the survey to review and approve the survey In the event the survey is unacceptable, then Purchaser shall within the ten (10) day period, give Seller written notice of this fact Seller shall, at Seller's option, promptly undertake to eliminate or modify the unacceptable portions of the survey to the reasonable satisfaction of Purchaser In the event Seller is unable to do so within ten (10) days after receipt of written notice, Purchaser may terminate this Agreement, and the Agreement shall thereupon be null and void for all purposes and the Escrow Deposit shall be 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 survey AEEOOBFE PAGE 2 3 Seller's Compliance Seller shall have performed, ob- served, and complied with all of the covenants, agreements, and conditions required by this Agreement to be performed, observed, and complied with by Seller prior to or as of the closing REPRESENTATIONS AND WARRANTIES OF SELLER Seller hereby represents and warrants to Purchaser as follows, which representations and warranties shall be deemed made by Seller to Purchaser also as of the closing date 1 There are no parties in possession of any portion of the Property as lessees, tenants at sufferance, trespassers or other parties 2 Except for the prior actions of Purchaser, there is no pending or threatened condemnation or similar proceeding or assessment or suit, affecting title to the Property, or any part thereof, nor to the best knowledge and belief of Seller is any such proceeding or assessment contemplated by any governmental authority 3 Seller has complied with all applicable laws, ordinances, regulations, statutes, rules and restrictions relating to the Property, or any part thereof 4 To the beat of the seller's knowledge, there are no toxic or hazardous wastes or materials on or within the Property Such toxic or hazardous wastes or materials include, but are not limited to, hazardous materials or wastes as same are defined by the Resource Conservation and Recovery Act (RCRA), as amended, and the Comprehensive Environmental Response Compensation and Liability Act (CERCLA), as amended CLOSING The closing shall be held at the office of Dentex Title Company on or before August 31, 1999, or at such title company, time, date, and place as Seller and Purchaser may mutually agree upon (which date is herein referred to as the "closing date") CLOSING REQUIREMENTS 1 Seller's Requirements A Deliver to State Texas Transportation acknowledged Deed i At the closing Seller shall of Texas, acting by and through Commission a duly executed n the form as attached hereto AEE008FE PAGE 3 the and as Exhibit "B" conveying good and marketable title to all of the Property, free and clear of any and all liens, encumbrances, conditions, easements, assessments, and restrictions, except for the following 1 General real estate taxes for the year of closing and subsequent years not yet due and payable, 2 Any exceptions approved by Purchaser pursuant to Purchaser's Obligations here- of, and 3 Any exceptions approved by Purchaser in writing B Deliver to Purchaser a Texas Owner's Policy of Title Insurance at Purchaser's sole expense, issued by Dentex Title Company, Denton, Texas, (the "Title Company"), or such title company as Seller and Purchaser may mutually agree upon, in Purchaser's favor in the full amount of the purchase price, insuring fee simple title for the State of Texas to the Property subject only to those title exceptions listed in Closing Requirements hereof, 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 Policy of Title Insurance, provided, however 1 The boundary and survey exceptions shall be deleted if required by Purchaser and if so required, the costs associated with same shall be borne by Purchaser, 2 The exception as to restrictive cove- nants shall be endorsed "None of Record", 3 The exception for taxes shall be limited to the year of closing and shall be endorsed "Not Yet Due and Payable", and 4 The exception as to liens encumbering the Property shall be endorsed "None of Record" AEE008FE PAGE 4 C Deliver to Purchaser possession of the Property on the day of closing 2 Purchaser's Requirements Purchaser shall pay the consideration as referenced in the "Purchase Price" section of this contract at Closing in immediately available funds 3 Closing Costs Seller shall pay all taxes assessed by any tax collection authority through the date of Closing All other costs and expenses of closing in consummating the sale and purchase of the Property not specifically allocated herein shall be paid by Purchaser REAL ESTATE COMMISSION All obligations of the Seller and Purchaser for payment of brokers' fees are contained in separate written agreements 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 except Purchaser's default, Purchaser may either enforce specific performance of this Agreement or terminate this Agreement by written notice delivered to seller BREACH BY In the event Purchaser should fail to consummate the purchase of the Property, the conditions to Purchaser's obligations set forth in PURCHASER'S OBLIGATIONS having been satisfied and Purchaser being in default Seller may either enforce specific performance of this Agreement, or terminate this Agreement by written notice delivered to purchaser 1. Assignment of Agreement This Agreement may be assigned by Purchaser without the express written consent of Seller 2 Survival of Covenants Any of the representations, war- ranties, covenants, and agreements of the parties, as well as any rights and benefits of the parties, pertaining to a period of time following the closing of the transactions contemplated hereby shall survive the closing and shall not be merged therein AEEOO8FE PAGE 5 3. Notice Any notice required or permitted to be delivered hereunder shall be deemed received when sent 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 beneath the signature of the party 4. Texas Law to Apply This Agreement 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 Denton County, Texas. 5. Parties Bound This Agreement 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 Agreement 6. Legal Construction. In case any one or more of the pro- visions contained in this Agreement shall for any reason be held to be invalid, illegal, or unenforceable in any respect, said in- validity, illegality, or unenforceability shall not affect any other provision hereof, and this Agreement shall be construed as if the invalid, illegal, or unenforceable provision had never been contained herein 7 Prior Agreements Superseded This Agreement 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 sub3ect matter 8 Time of Essence Time is of the essence in this Agreement 9 Gender. Words of any gender used in this Agreement 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 10 Memorandum of Contract Upon request of either party, both parties shall promptly execute a memorandum of this Agreement suitable for filing of record 11. Compliance. In accordance with the requirements of the Texas Real Estate License Act, Purchaser is hereby advised that it should be furnished with or obtain a policy of title insurance or Purchaser should have the abstract covering the Property examined by an attorney of Purchaser's own selection AEE008FE PAGE 6 12 Time Limit. In the event a fully executed copy of this Agreement has not been returned to Purchaser within ten (10) days after Purchaser executes this Agreement and delivers same to Sel- ler, Purchaser shall have the right to terminate this Agreement upon written notice to Seller DATED this __3 day of , 1999 SELLER LAKE CITIES CONGREGATION-DENTON- OF JEH0�7 is W NESSES, INC BY NAME d 0 TITLE �, oynS�e2 STATE OF TEXAS COUNTY OF DENTON THE CITY OF DENTON, TEXAS r Mich el T z Cit Ma a 215 E McKinney Denton, Texas 76201 hi instrument is acknowledged before me, on this day of , 1999 by Michael W Jez, City Manager, of the City o Denton, a municipal corporation, known to me to be the person and officer whose name is subscribed to the foregoing instrument and acknowledged to me that the same was the act of the said City of Denton, Texas, a municipal corporation, that he was duly authorized to perform the same by appropriate ordinance of the City Council of the City of Denton and that he executed the same as the act of the said City for purposes and consideration therein expressed, and in the caherein ryaPublicaSttisntaffanedd for of Texas R4's JFNNIFER K WALTERS a New) Puhhc STOM Of TOM Nly Cnmmminn Expires f December 19, 2002 AEEOOBFE PAGE 7 STATE OF TEXAS COUNTY OF DENTON This instrument is acknowledged before me, on this S day of 1999 by ` ab I�E�v� �,5 , LAKE CITIES CON CATION-DENTON-OF JEBOVAH'S WITNESSES, Incorporation, a Texas Corporation known to me to be the person and officer whose name is subscribed to the foregoing instrument and acknowledged to me that the same was the . :.. ........................ act of the aU00'rZ47, Notary lic in and for the State of Texas AEE008FE PAGE 8 County 250= Highway U.S. 77 Project Limits- From To CSJ. 019E-02- Account. EXHIBIT "A" FIELD NOTES FOR PARCEL,U Page 1 of 1 Rev December 19, 1994 BEING A PARCEL OF LAND SITUATED IN A CALLED 4-ACRETRACT OF LAND CONVEYED TO JOE W SHERRILL AND WIFE, MARY LAJEAN SHERRILL, RECORDED IN VOLUME 605, PAGE 464, DEED RECORDS OF DENTON COUNTY, TEXAS (DRDCT), AND BEING SITUATED IN THE 8.13.8 & C.R R SURVEY, ABSTRACT NO 186, CITY OF DENTON, DENTON COUNTY, TEXAS, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS COMMENCING for reference at a found 1/2-inch iron rod for the northeast corner of a 1 036-acre tract of land, as described in a release of lien in Volume 952, Page 566, DRDCT, THENCE N 010 36' 32" E. along the east line of said Sherrill tract and a west line of a tract of land conveyed to Roy D Martin, as recorded in Volume 416, Page 215, DROCT, a distance of 420 79 feet to a set 5/8-inch Iron rod with an aluminum cap being the POINT OF BEGINNING and said point being on the new south right of way line of U S. 77, (1) THENCE N 580 11' 37" W, along the new south right of way line of U S 77, a distance of 23 10 feet to a set 5/8-inch iron rod with an aluminum cap in the north line of said Sherrill tract and a south line of said Martin tract; (2) THENCE S 880 52' 38" E. along tho north line of said Sherrill tract and a south line of said Martin tract, a distance of 19.96 feet to a fence comer found for the northeast corner of said Sherrill tract, same being an interior comer of said Martin tract, (3) THENCE S 010 36' 32" W, along the east line of said Sherrill tract and a west line of said Martin tract, a distance of 11.79 feet to the POINT OF BEGINNING, and containing 0 003 acre, or 118 square feet of land, more or less. Jqfin F. Wilder, R.P L,S Texas No. 4285 Date D•2602.nry THE FOLLOWING COMMITMENT FOR TITLE INSURANCE IS NOT VALID UNLESS YOUR NAME AND THE POLICY AMOUNTARESHOWN INSCHEDULE A,AND OUR AUTHORIZED REPRESENTATIVE HAS COUNTERSIGNED BELOW 1p COMMITMENT FOR TITLE INSURANCE ISSUED BY FIDELITY NATIONAL TITLE INSURANCE COMPANY We, FIDELITY NATIONAL TITLE INSURANCE COMPANY, a California corporation, will Issue our title Insurance policy or policies (the Policy) to You (the proposed Insured) upon payment of the premium and other charges due, and compliance with the requirements In Schedule B and Schedule C Our Policy will be in the form approved by the Texas Department of Insurance at the date of Issuance, and will Insure your Interest in the land described In Schedule A The estimated premium for our Policy and applicable endorse- ments is shown on Schedule D There may be additional charges such as recording fees and expedited delivery expenses This Commitment ends ninety (90) days from the effective date, unless the Policy is Issued sooner, or failure to Issue the Policy is our fault Our liability and obligations to You are under the express terms of this Commitment and end when this Commitment expires DENTEX TITLE COMPANY 300 N ELM STE 101 DENTON, TEXAS 76201 FkWity National Title Insurance Company .' SEAL ATTEST President 9ecrelery Authorized Signatory FORM 1878 (1-1.03) REPRINTED (10193) TEXAS - COMMITMENT FOR TITLE INSURANCE Eftc#ve 1.143 Form Commitment for Tlse Insurance GF Number 97-1769S Form prescribed by Texas Department of Insurance (Revised 111/93) SCHEDULE A GF No or File No 97.17693 Effective Date of Commitment February 10,1999 Issued March 8, 1999 8 00 AM The policy or policies to be issued are (a) OWNER POLICY OF TITLE INSURANCE (Form T-1 ) (Not applicable for Improved one -to -four family residential real estate) Policy Amount PROPOSEDINSURED The City of Denton (b) TEXAS RESIDENTIAL OWNER POLICY OF TITLE INSURANCE —ONE-TO-FOUR FAMILY RESIDENCES (Form T-1 R) Policy Amount PROPOSEDINSURED (c) MORTGAGEE POLICY OF TITLE INSURANCE (Form T-2) Policy Amount PROPOSEDINSURED Proposed Borrower (d) MORTGAGEE TITLE POLICY BINDER ON INTERIM CONSTRUCTION LOAN (Form T-13) Binder Amount PROPOSEDINSURED Proposed Borrower (a) OTHER Policy Amount PROPOSEDINSURED The interest in the land covered by this Commitment is Fee Simple Record title to the land on the Effective Date appears to be vested in Lake Cities Congregation -Denton -of Jehovah's Witlnesses, Inc Legal description of land mart of Lot 1, Block 1 of Lake Cities Addition, an addition to the City of Denton, in Denton County, Texas, according to the plat thereof recorded in Cabinet N, Slide 320, Plat Records of Denton County, Texas, more particularly described in Exhibit "A" attached hereto and trade a part hereof Schedule A of this Commitment consists of I page($) Fidelity National Title Insurance Company County Denton Highway U S 77 Project Limits CSJ 0195-02- Account From I H 35 To U.S.380 EXHIBIT "A" FIELD NOTES FOR PARCEL 34 Page 1 of 1 Rev December 19, 1994 BEING A PARCEL OF LAND SITUATED IN A CALLED 4-ACRE TRACT OF LAND CONVEYED TO JOE W SHERRILL AND WIFE, MARY LAJEAN SHERRILL, RECORDED IN VOLUME 605, PAGE 464, DEED RECORDS OF DENTON COUNTY, TEXAS (DRDCT), AND BEING SITUATED IN THE B B B & C R R SURVEY, ABSTRACT NO 186, CITY OF DENTON, DENTON COUNTY, TEXAS, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS COMMENCING for reference at a found 1/2-inch iron rod for the northeast corner of a 1 036-acre tract of land, as described in a release of lien in Volume 952, Page 566, DRDCT, THENCE N 010 36' 32" E, along the east line of said Sherrill tract and a west line of a tract of land conveyed to Roy D Martin, as recorded in Volume 416, Page 215, DRDCT, a distance of 420 79 feet to a set 5/8-inch von rod with an aluminum cap being the POINT OF BEGINNING and said point being on the new south right of way line of U S 77, (1) THENCE N 580 11' 37" W, along the new south right of way line of U S, 77, a distance of 23 10 feet to a set 5/8-inch iron rod with an aluminum cap in the north line of said Sherrill tract and a south line of said Martin tract, (2) THENCE S 880 52' 38" E, along the north line of said Sherrill tract and a south line of said Martin tract, a distance of 19 96 feet to a fence corner found for the northeast corner of said Sherrill tract, some being an interior corner of said Martin tract, (3) THENCE S 010 36' 32" W, along the east line of said Sherrill tract and a west line of said Martin tract, a distance of 11 79 feet to the POINT OF BEGINNING, and containing 0 003 acre, or 118 square feet of land, more or less Jon F Wilder, RPLS Texas No 4285 Date D 2602 REV Form Commitment for Title Insurance Form Prescribed by Texas Department of Insurance (Revised 111/93) Attached to and made a part of Fidelity National Title Insurance Company Commitment for Title Insurance GF No 97-1769S SCHEDULE B EXCEPTIONS FROM COVERAGE In addition to the Exclusions and Conditions and Stipulations, your policy will not cover loss, costs, attorney's fees and expenses resulting from The following restrictive covenants of record itemized below (We must either insert specific recording data or delete this exception) DELETED Any discrepancies, conflicts, or shortages in area or boundary lines, or any encroachments or protrusions, or any overlapping of Improvements Homestead or community property or survivorship rights, if any, of any spouse of any insured (Applies to the Owner Policy only ) Any titles or rights asserted by anyone, Including, but not limited to, persons, the public, corporations, governments or other entlfles, a) to tidelands, or lands comprising the shores or beds of navigable or perennial rivers and streams, lakes, bays, gulfs, or oceans, or b) to lands beyond the line of the harbor or bulkhead lines as established or changed by any government, or c) to filled -in lands, or artificial islands, or d) to statutory water rights, including riparian rights, or e) to the area extending from the line of mean low tide to the line of vegetation, or the rights of access to that area or easement along and across that area (Applies to the Owner Policy only ) Standby fees, taxes and assessments by any taxing authority for the year 1999 and subsequent years, and subsequent taxes and assessments by any taxing authority for pnor years due to change in land usage or ownership The terms and conditions of the documents creating your interest in the land Materials furnished or labor performed In connection with planned construction before signing and delivering the Ilan document described In Schedule A, If the land is part of the homestead of the owner (Applies to the Mortgagee Title Policy Binder on Interim Construction Loan only, and may be deleted if satisfactory evidence to us before a binder is Issued ) Liens and leases that affect the title to the land, but that are subordinate to the lien of the Insured mortgage (Appliesito Mortgagee Policy only ) 9 The following matters and all terms of the documents creating or offering evidence of the matters (We must insert matters or delete this exception ) a) Rights of Parties in Possession (Owners Title Policy) b) Lien to be created in form acceptable to this company Schedule B of this Commitment consists of 2 page(s) Fidelity National Title Insurance Company Form Commitment for Title Insurance Form Prescribed by Texas Department of Insurance (Revised 1/1/93) Attached to and made a pert of Fidelity National Title Insurance Company Commitment for Tide Insurance GF No 97-1769S c) Any matters that might anse as a result of a current survey of the subject property d) This policy Insures real estate only and does not Insure title to any removables which may be situated thereon e) Any visible and apparent easements over and accross said property, the existence of which does not appear of record f) Any part or portion of the herein described property, lying within the boundaries of a public or private road or right of way g) Easements and Building Setback Lines as shown on Plat recorded in Cabinet N, Slide 320, Plat Records of Denton County, Texas h) Any outstanding oil, gas and other mineral interest owned by others of record in the office of the County Clerk of Denton County, Texas Schedule B of this Contentment consists of 2 page(s) Fidelity National Title Insurance Company FORM Commitment for Title Insurance From Prescribed by Texas Department of Insurance (Revised 111193) GF No 97-1769S SCHEDULE C Your Policy will not cover loss, costs, attorneys fees, and expenses resulting from the following requirements that will appear as Exceptions in Schedule B of the Policy, unless you dispose of these matters to our satisfaction, before the date the Policy is issued Documents creating your title or interest must be approved by us and must be signed, notarized and filed for record Satisfactory evidence must be provided that • no person occupying the land claims any interest In that land against the persons named in paragraph 3 of Schedule A, • all standby fees, taxes, assessments and charges against the property have been paid, • all Improvements or repairs to the property are completed and accepted by the owner, and that all contractors, sub -contractors, laborers and suppliers have been fully paid, and that no mechanic's, laborer's or materialman's liens have attached to the property, • there is legal right of access to and from the land, • (on a Mortgagee Policy only) restrictions have not been and will not be violated that affect the validity and priority of the Insured mortgage 3 You must pay the seller or borrower the agreed amount for your property or interest 4 Any defect, lien or other matter that may affect title to the land or interest insured, that arises or Is filed after the effective date of this Commitment 5 Upon receipt fo a survey acceptable to Company and upon payment of all the expenses in connection with the survey and the applicable premium, if any, Item 2 of Schedule B will be deleted except for "shortages in area," subject to any additional exceptions revealed by the survey 6 Note Procedural Rule P-27 as provided for in Article (9 39 A of the Texas Insurance Code requires that "Good Funds" be received and deposited before a Title Agent may disburse from its Trust Fund Account 7 Obtain and return to title company a signed statement made by purchaser/borrower acknowledging receipt of title commitment prior to closing, and acceptance of the exceptions shown under Schedule B thereof 8 If the property is occupied by other than owner, obtain tenant's disclaimer or waiver, otherwise, exception will be taken to rights of parties in possession 9 Obtain Seller's Affidavit as to no debts, liens, etc on said property for recent Improvements, if any, or under UCC filing 10 Additional Closing Requirements (3 page form) must be signed and initialed by all parties in this transaction 11 Require proper documentation showing who has the authority to execute documents on behalf of Lake Cities Congregation- Denton-ofJehovah's Witmesses, Inc Schedule C of tins Commament consists of 2 page(s) Fidelity National Title Insurance Company FORM Commitment for TitteInsurance From Prescribed by Texas Department of Insurance (Revised 1/1193) GF No 97-1769S BY Authorized Countersignature Schedule C of this Commitment consists of 2 pellets) Fidelity National Title Insurance Company FORM Commitment for Title Insurance Form Prescribed by Texas Department of Insurance (10130/92) GF Number 97-1769S The Information contained In this Schedule (D) does not affect Otis to or the lien upon the land described In Schedule A hereof, to be Insured In any polioy(les) of title Insurance to be Issued in accordance with this Commitment As to Fidelity National Title Insurance Company, the Underwriter herein, the following disclosures are made A-1 The following entities own more than 10% of Fidelity National Title Insurance Company, a California corporation Listed also are the Directors and Officers of Fidelity National Title Insurance Company OWNERS OF 10% DIRECTORS OFFICERS OR MORE OF Fidelity National Title William P Foley, II William P Foley, II C E O /Chairman Insurance company Frank P Willey Patrick F Stone President Fidelity National Patrick F Stone Frank P Willey Executive Vice President Financial, Inc Carl A Strunk Carl A Strunk Executive Vice President Raymond R Quirk Ronald R Maudsley Andrew F Puzder M'Liss Jones Kane As to DENTEX TITLE COMPANY (Title Insurance Agent), the following disclosures are made Treasurer & C F O Executive Vice President Regional Manager Executive Vice President General Counsel Senior Vice President Secretary B-1 The names of each shareholder, owner, partner, or other person having, owning or controlling one percent (1 %) or more of the Title Insurance Agent that will receive a portion of the premium are as follows Owners of 100%of Dentex Title Company Adams Title Company *Phil and Ruth Adams own 100% of Dentex Title Company B-2 Each shareholder, owner, partner, or other person having, owning or controlling 40% percent (10%) or more of an entity that has, owns or controls one percent (1 %) or more of the Title Insurance Agent that will ret live a portion of the premium are as follows NONE B-3 If the Agent is a corporation, the names of any directors, president, executive or senior vice president, secretary and treasurer if any of the Title Insurance Agent are as follows Directors of Dentex Title Comapny Phil Adams, Ruth Adams & Rebecca Amold-Anderson Officers of Dentex Title Company Rebecca Amold-Anderson, President, Jack Hanna, Vice President & Stacie Sourland, Secretary -Treasurer C-1 You are entitled to receive advance disclosure of settlement charges in connection with the proposed transaction to which this commitment relates Upon your request, such disclosure will be made to you Additionally, the name of any person, firm or corporation receiving any sum from the settlement of this transaction will be disclosed on the closing or settlement statement You are further advised that the estimated' Ode premium Is Owner Policy Mortgagee Policy Endorsement Charges Total Of this total amount $ or 17 75 % (complete one only) will be paid to Fidelity National TiOe Insurance Company, $ _ or 82 25% (complete one only) will be retained by Title Insurance Agent, and any remainder of the estimated premium will be paid to other parties as follows Amount Paid to Services $ or % (complete only one) $ or % (complete only one) $ or % (complete only one) 'The estimated premium Is booed upon information furnished to us as of the date of this Commitment for Title Insurance Final determination of the amount of the premium will be made at closing in accordance with the Rules and Regulations adopted by the State Board of Insurance Fidelity National Title Insurance Company DELETION OF ARBITRATION PROVISION (Not applicable to the Taxes Residential Owner Policy) ARBITRATION is a common form of alternative dispute resolution It can be a quicker and cheaper means to settle a dispute with your Title Insurance Company However, if you agree to arbitrate, you give up your right to take the Title Insurance Company to court and your rights to discovery of evidence may be limited in the arbitration process In addition, you cannot usually appeal an arbitrator's award Your policy contains an arbitration provision shown below) It allows you or the Company to require arbitration if the amount of insurance is $1,000,000 or less If you want to retain your right to sue the Company in case of a dispute over a claim, you must request deletion of the arbitration provision before the policy is issued You can do this by signing this form and returning it to the Company at or before the closing or your real estate transaction or by writing to the Company The Arbitration provision in the Policy is as follows "Unless prohibited by applicable law or unless this arbitration section is deleted by specific provision in Schedule B of this policy, either the Company or 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 to, any controversy or claim between the Company and the Insured ansing 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 $1,000,000 or less SHALL U arbitrated at the request of either the Company or the Insured, unless the Insured is an individual person (as distinguished from a corporation, trust, 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 Date of Policy shall be binding upon the parties The award may include attorneys' fees only if the laws of the state in which the land is located permit a court to award attorneys' fees to a prevailing party Judgment upon the award rendered by the Arbitrator(s) may be entered in any court having jurisdiction thereof The law of the situs of the land shall apply to an arbitration under the Title Insurance Arbitration Rules A copy of the Rules may be obtained from the Company upon request " I request deletion of the Arbitration provision SIGNATURE DATE FORM T 1010 (1-193) TEXAS DELETION OF ARBITRATION COMMITMENT Effective 1 1-93