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1996-077J \WPDOCS\ORD\CURRAY ORD ORDINANCE NO. AN ORDINANCE OF THE CITY OF DENTON, TEXAS, AUTHORIZING THE CITY MANAGER TO EXECUTE A CONTRACT BETWEEN THE CITY AND HAZEL WHITE CURRAY FOR THE PURCHASE OF REAL PROPERTY FOR LANDFILL PURPOSES, AUTHORIZING THE EXPENDITURE OF FUNDS; AND PROVIDING FOR AN EFFECTIVE DATE. THE CITY COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS: SECTION I. That it approves the attached agreement between the City of Denton and Hazel White Curray for the purchase of real property for landfill purposes and authorizes the C~ty Manager to execute the agreement on behalf of the City SECTION II. That it authorizes the expenditure of funds ~n accordance with the terms of the agreement SECTION III. That this ordinance shall become effective lmmedlately upon its passage and approval. PASSED AND APPROVED th~s the ~~ day of ~ , 1996 ATTEST JENNIFER WALTERS, CITY SECRETARY APPROVED AS TO LEGAL FORM: HERBERT L. PROUTY, CITY ATTORNEY REAL ESTATE CONTRACT STATE OF TEXAS COUNTY OF DENTON THIS CONTR3%CT OF SALE Is made by and between Hazel White Curray (hereinafter referred to as "seller") and CITY OF DENTON, TEXAS, a home rule munlclpallty, of Denton, Denton County, Texas, (hereinaf- ter 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, the tract of land containing ap- proximately 1 5 acres of land situated in Denton County, Texas, being more particularly described in Exhibit A attached hereto and Incorporated herein by reference for all purposes together with all and singular the rights and appurtenances pertalnmng to the prop- erty, including any right, title and interest of Seller in and to adjacent 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, fmxtures, and per- sonal property situated on and attached to the Property, for the consideration and upon and subject to the terms, provisions, and conditions hereinafter set forth pURCHASE PRICE 1 Ar~ount of Purchase Price The purchase price for the Property shall be the sum of One hundred sixteen thousand one hundred dollars and no cents ($116,100 00) 2 Payment of Purchase Price The full amount of the Purchase Price shall be payable mn cash at the closing pURCHASER' S OBLIGATIONS The obligations of Purchaser hereunder to consummate the trans- actions contemplated hereby are subject to the satisfaction of each of the following condmtmons any of whlch may be wamved in whole or in part by Purchaser at or prior to the closing i Prellmlnarv 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 pre- llm!nary title report (the ,'Title Report") accompanied by copies of all recorded documents relating to easements, rights-of-way, etc , affecting the Property Purchaser shall g~ve Seller written not~ce on or before the expiration of ten (10) days after Purchaser re- ceives the Tltle Report that the condlt~on of tlZle as set forth ~n the title binder is or is not satisfactory, and ~n the event Pur- chaser states the condition ls not satisfactory, Seller shall, at Seller's optlon, promptly undertake to eliminate or modify all unacceptable matters to the reasonable satlsfactlon of Purchaser In the event Seller ~s unable to do so w~th~n ten (10) days after recelpt of wrltten notice, th~s Agreement shall thereupon be null and void for all purposes and the Escrow DeposlZ shall be forthwith returned by the T~tle Company to Purchaser, otherwlse, thls con- d~tlon shall be deemed to be acceptable and any objection thereto shall be deemed to have been walved for all purposes 2 Survey Upon written request by Purchaser dellvered to Seller contemporaneously w~th Purchaser's delivery of an executed orlg~na! of this Agreement, Seller shall w~th~n twenty (20) days from the date hereof, at Purchaser's sole cost and expense, del~ver to Purchaser 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 ~mprovements, highways, streets, roads, railroads, r~vers, creeks, or other water courses, fences, easements, and rlghts-of-way on or adjacent to the Property, ~f 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 w~th a metes and bounds descrlpt~on thereof Purchaser w~ll have ten (10) days after recelpt of the survey to review and approve the survey In the event the survey is unacceptable, then Purchaser shall w~th!n the ten (10) day per~od, g~ve Seller written not~ce of thls 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 ~s unable to do so w~thln Zen (10) days after receipt of written not~ce, Purchaser may terminate th~s 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 th~s written not~ce shall be deemed to be Purchaser's acceptance of the survey 3 Seller's Compliance Seller shall have performed, ob- served, and complied w~th all of the covenants, agreements, and conditions required by th~s Agreement to be performed, observed, and complied w~th by Seller prior to or as of the closing REPRESENTATIONS AND WA~R3%NTIES OF SELLER Seller hereby represents and warrants to Purchaser as follows, which representations and warrant~es shall be deemed made by Seller to Purchaser also as of the closing date A~E004FE PAGE 2 1 There are no parties in possession of any portion of the Property as lessees, tenants at sufferance, or trespassers 2 Except for the prior actions of Purchaser, there is no pending or threatened condemnation or similar proceeding or asses- sment affecting 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, regulatlons, statutes, rules and restrictions relating to the Property, or any part thereof 4 (a) 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 Environmen- tal Response Compensation and Liab!llty Act (CERCLA), as amended (b) The City of Denton assumes the risk of and agrees to indemnify and hold Seller harmless, and to defend Seller against and from all clalms, costs, liabilities, expenses (including without limltatlon court costs and attorney's fees), or demands of whatsoever nature or source for any defects or Environmental Problems, latent or obvious, discovered or undiscovered, in the real and chattel property to be conveyed hereunder, causing per- sonal injury to or death of persons whomsoever (Including without limitation employees, agents or contractors of the City of Denton, Seller or any third party), or causing property damage or destruc- tlon of whatsoever nature or contamlnatlon to the environment (including without llmltatlon property of the City of Denton or Seller, or property in Its or their care, custody, or control, and third party property), arlslng out of acts, omissions or events occurring after Closing (c) Seller assumes the risk of and agrees to indemnify and hold the City of Denton harmless, and to defend the City of Denton against and from all clalms, costs, liabilities, expenses (includ- Ing without limitation court costs and attorney fees), or demands of whatsoever nature or source for any defects or Environmental Problems, latent or obvious, dlscovered or undiscovered, in the real and chattel property to be conveyed hereunder, causing per- sonal injury to or death of persons whomsoever (including wlthout limitation employees, agents or contractors of Seller, the City of Denton or any third party), or causing property damage or destruc- t!on of whatsoever nature or contamination to the environment (including without limitation property of Seller or the City of Denton, or property in its or their care, custody, or control, and third party property), arising out of acts, omlsslons or events occurring before Closing AEE004FE PAGE 3 "Environmental Problems" means any cause or action under the federal Comprehenslve Environmental Response Compensation and Liability Act of 1980 (as amended) and any cause or action arising from slmllar federal, state or local legislation or other rules of law, and private causes of action of whatever nature which arise from environmental damage, toxic wastes or other s~mzlar causes MISCELLANEOUS OBLIGATIONS OF PARTIES Seller shall be allowed to occupy the property until closing CLOSING The closing shall be held at the office of Dentex Tztle Company, Denton, Texas, on or before August 1, 1995, or at such tztle company, time, date, and place as Seller and Purchaser may mutually agree upon (which date is herein referred to as the "closlng date") CLOSING REQUIREMENTS I Seller's Reculrements At the closing Seller shall A Deliver to Purchaser a duly executed and acknowledged General Warranty Deed conveying good and marketable title in fee simple to all of the Property, free and clear of any and all liens, encumbrances, conditions, easements, asses- sments, and restrlctlons, except for the following I 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 0bllqatlons here- of, and 3 Any exceptions approved by Purchaser in writing B Deliver to Purchaser a Texas Owner's Title Policy 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 Purch- aser's favor in the full amount of the purchase price, insuring Purchaser's fee szmple tztle to the Property subject only to those title exceptions listed in Closing ~ 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 Title Policy, provided, however 1 The boundary and survey exceptions PAGE 4 shall be deleted if required by Purchaser and if so required, the costs associated with same shall be borne by Seller, 2 The exception as to restrictive cove- nants shall be endorsed "None of Record", 3 The exception as to the lien 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" C Deliver to Purchaser possession of the Property on the day of closing 2 Purchaser's Recrulrements Purchaser shall pay the full cash purchase price to Seller at Closing In immediately available funds 3 C!osln~ Costs Through the date of Closing, Seller shall pay all taxes assessed by any tax ]urlsdlctlon through the date of Closing Any taxes imposed, assessed or arising because of a change of use of the Property after closing shall be paid by Seller Ail other costs and expenses of closing in consummating the sale and purchase of the Property not specifically allocated herein shall be equally shared by Purchaser and Seller REAL ESTATE COMMISSION Any real estate commissions occasioned by the consummation of this Agreement shall be the sole responsibility of Seller, and Seller agrees to indemnify and hold harmless Purchaser from any and all cla!ms for these commissions BREACH BY SELLER In the event seller shall fall to fully and timely perform any of its obligations hereunder or shall fall to consummate the sale of the Property except Purchaser's default, Purchaser may either enforce speclflc performance of this Agreement or terminate thls Agreement BREACH BY PURCF~ASER In the event Purchaser should fall to consummate the purchase of the Property, the conditions to Purchaser's obligations set forth in PURCHASER'S OBLIGATIONS havlng been satlsfled and Purchaser being ~n default Seller may either enforce specific performance of this Agreement, or terminate this Agreement MISCELLANEOUS 1 As$1qnment of Aareement This Agreement may not be assigned by Purchaser without the express written consent of Seller 2 Survival of Covenants Any of the representations, war- rantles, covenants, and agreements of the part!es, as well as any rights and benefits of the part~es, pertaining to a period of time following the closing of the transactions contemplated hereby shall survive tke closlng and shall not be merged therein 3 Notice Any notlce requlred or permitted to be delivered hereunder shall be deemed received when sent by United States mall, postage prepaid, certified mall, return receipt requested, addres- sed to Seller or Purchaser, as the case may be, at the address set forth beneath the s~gnature of the party 4 Texas ~aw to AD~lv 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 Denton County, Texas 5 Parties Bou d Th~s Agreement shall be b~ndlng upon and ~nure to the benefit of the parties and thelr respective heirs, executors, admlnlstrators, legal representatives, successors and assigns where permitted by th!s Agreement 6 Le~a~ Construction In case any one or more of the pro- v~slons contained in th~s Agreement shall for any reason be held to be lnva!~d, ~l!egal, or unenforceable ~n any respect, sald validity, Illegality, or unenforceablllty shall not affect any other provision hereof, and thls Agreement shall be construed as the ~nvalld, ~llegal, or unenforceable prov!slon had never been contained hereln 7. Prior A~reements 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 subject matter 8 T me of Essence Time ~s of the essence in th~s Agreement 9 Gender Words of any gender used In this Agreement shall be held and construed to include any other gender, and words ~n the AEE004FE PAGE 6 szngular number shall be held to znclude the plural, and vzce versa, unless the context requares otherwzse 10 Memorandum of Contract Upon request of ezther party, both partzes shall promptly execute a memorandum of thas Agreement suztable for fzllng of record 11 ComDlaance In accordance wash the requirements of the Texas Real Estate License Act, Purchaser zs hereby advzsed that at should be furnzshed wath or obtazn a policy of tztle znsurance or Purchaser should have the abstract coverang the Property examaned by an attorney of Purchaser's own selectzon 12 Tzme Lzmzt In the event a fully executed copy of thzs Agreement has not been returned to Purchaser wzthzn fzve (5) days after Purchaser executes thzs Agreement and delzvers same to Sel- ler, Purchaser shall have the rzght to termanate thzs Agreement upon written not~ce to Seller 13. Subject to apprpval pf the Tarrant County Probate Court. DATED this may o~ , SELLER SELLER Clift~ite Hazel White Curry-Sub3ect to approval '~l ~/~~ Den~n County Probate ~urt~_~ BY~/kbt~ ~g~o~n~U~% yes White, Guardlan of _ of :ltfton W~ite, an Incapacitated Person PURCHASER THE CITY OF DENTON, TEXAS Rack Svehla, Acglng C~ty Manager 215 E McK~nney Street Denton, Texas 76201 STATE OF TEX~.....~-- This lnstrm~e~t was acknowledged before me on 3~ ~ 'q~ ~ Deborah I Robertson Notary ~ UBL ~D FOR TE~S ~ ~* {~)*lPub',c In and for the State of Texas ~ ~ ~;~ '~ My Commission Expires 6 9 98 ~ STATE OF TEXAS COUNTY OF DENTON Thms mnstrument ms acknowledged before me, the by Rick Svehla,Acttng Cmty Manager, of the Cmty of Denton, a munmczpal corporatmon, known to me to be the person and offmcer whose name ms subscrmbed to the foregomng mnstrument and acknowledged to me that the same was the act of the samd Cmty of Denton, Texas, a munmcmpal corporatlon, that he was duly authorized to perform the same by approprmate ordinance of the Czty Councml of the C~ty of Denton and that he executed the same as the act of the sazd C~ty for purpose and consmderatlon there~n expressed, and zn the capacmty theremn stated / I ~ *~j*- ~COMMI~iON~P'NE$. ~TA~ PUBLfC~-AND FOR TEXAS ATTEST ~ERBERT L. PROUTY, CITY ATTORNEY By ~~ ~ ~~, NO 95~2673-1 IN RE GUARDIANSHIP OF § IN THE PROBATE COURT THE PERSON AND ESTATE OF CLIFTON VgI{ITE, § NUMBER ONE OF AN INCAPACITATED PERSON § TARRANT COUNTY, TEXAS DECREE CONFIRMTNG SALE OF REAL PROPERTY On this day the I7~urt heard3.nd considered the Report of Sale of Real Property ("the Report"), filed on ~ . ~/j ,/~'~'~ The Court finds that five (5) days have exptred since ~ fihng of ~e Report, ~at ~ncro~e m ~e bond of the Gu~d~ to a total ~ount of $32,000 00 w~ necess~, ~at the sal~ was for a fair price, w~ proparly made ~d, w~ m confo~ ~ ~e law Such real prope~ ~s described ~ follows An ~ivtded o~fo~h t~erest tn o~ ~ one-h~f ~r~ of l~ loc~ed tn De~on Co~, T~, p~c~ed by N~L C. ~ (dece~ed) ~ ~Z~ ~ (~) by deed d~ed M~h 3, 1957, recorded m Vol~e 428, Page 20 of t~ Recording Records of De~on Co~, T~. It ~a, therefore, O~E~D, ~GED, ~d DEC~ED that th~ s~ of ~ abova- d~cnbad ra~ prope~ to tha C~ of Demon, T~x~ by the Gu~d~ of tha Estate of C~TON ~, ~ Incapacitated Person, ~ described ~n the smd Repo~ of Sale, be ~d ~s hereby approved ~d confi~ed upon comph~ce by the pur~er ~ the t~s of the sale ~ set fo~ ~n the sa~d Report of Sale /~ ~ S IG~D on this the ~ day of ~~~ 1996 _ Attorney at Law 614 West la~ Fort Worth, Texas 76102 336-5681, State Bar #07889500 WHITE CLhDECREI~ RP CAUSE NO. PR-94-178 GUARDIANSWIP OF ~ X IN ~ PROBATE COURT X PERSON AND ESTATE OF X OF X HAZEL WHITE CURRY X DENTON COUNTY, TEXAS X AN INCAPACITATED PERSON X ORi~F,R FOR ,qALlg OF RF, AIJ PROPgRTY On theff~Y o~ 1996, ~e Apphcatlon for S~e of Ke~ Prope~, ~ed on l~u~ ~ 19~, b~s N ~te, ~d~ of the Person ~d E~te of ~el ~te C~, was he~d ~d co~dered by ~e touR, m~ ~er he~g ~e credence m mppon of~e apphcatio~ ~e Co~ ~ds ~ follows 1 C~tauon h~ been ~ssued ~d se~ed as requ~ed by law, md no one comeged ~e apphcauon 2 The apphcaUon ~s accomp~ed ~th m ~b~t, vexed by ~da~g sho~g ~ condmon of~e estate, md the apphca~on md e~b~t meet the requ~ts of s~on 342 or 821 of~e Texas Probate Code 3 The leg~ descnpuon of~e re~ prope~ to be sold ~s ~ that ce~ tra~ or p~cel oflm~ s~mated m Denton CounW, Te~, out of the ~deon W~er S~ey ~d being out of the Sou~west comer of 138 a~es of lind p~e~ed by W ~ Edw~ds ~om Jo~ K He~, ~d more p~l~ly described ~ follows BEG~G at the Sou~we~ comer of smd 138 acre tra~, ~NCE E~t ~ong the South bo~d~ ~e thereof, 112 5 v~as more or less to ~e Southe~ comer of a ~a~ conv~ed by W ~ Edw~ds to S M Bradl~, Co~ Judge of Denton Co~, Te~, by deed dated ~ch 20, 1886, sho~ of r~ord m Vol 31, page 109, Deed Kecords of Denton Count, Te~, ~CE North ~th ~e Ea~ bo~d~ ~e of smd l~t mentioned tra~, 75 13 v~as to the No~he~t comer thereof, ~NCE West 112 5 v~as more or less to the No~hwest comer of a tract conveyed by W ~ Edw~ds to the Trustees of~ppey School by deed dated November 18, 1881, sho~ of record ~n Volume S, page 176, Deed Kecords of Denton Count, Texas, Order For SaLe Of Real Property Page - 1 THENCE South wath the West boundary line of smd last mentioned tract 75 13 varas to the place of beginning and containing 1-1/2 acres of land, more or less, being the same properly conveyed to Neal C Wbate and Hazel White, his wale by Deed fi.om W H Edwards recorded m Vol 425, Page $0 of the Denton County Deed Records 4 The general bond of Guardian as required by law is sufficient for the present tune $ The sale sought m the foregoing apphcation is necessary and adwsable for the following reasons The expense of pro~admg for the support and mmntenance of the ward is continuing and the present funds on hand will eventually be exhausted and the funds from the sale of the property will be needed for the support of the ward The ward has become disabled and can no longer use the property for residential purposes and the net rental raceme from the property does not amount to any substanual sum in excess of the expenses of operating and maintaining the property and the expenses for payment of the real estate taxes and insurance cost And further, the location of the property does not make it desirable or attracuve as a private home site because of the City of Denton landfill near the property, and, the court having found that 6 The apphcataon should be granted, and the properly should be sold IT IS THEREFORE ORDERED, ADJUDGED, AND DECREED that the property described m tins order shall be sold at a private sale on the terms as set out m the Real Estate Sale Contract attached as Exhibn B to the Application for Sale of Real Property, which is on file hereto IT IS FURTHER ORDERED that no additional bond shall be required of the Guardian at this tune, and that after the sale has been made, a report of sale shall be returned m the manner reqmred by law, at which tune an order wall be entered requmng that all funds received from such sale be dehvered to the Bank of America to be held for safekeeping and invested pursuant to the order dated the 18th day of April 1994 Order For Sale Of Real Property Page - 2 Order For Sale Of Real Property Page - 3 DENTON, TEXAB 76201 817-566-0282 FAX 817-566'6445 City of Denton 215 E McKlnney Denton, TX 76201 RE G F # 9~-]339D POLICY # RO-223251 PROPERTY 1 5 acres, Gideon Walker survey, Abstract 1330, Denton County, Texas Dear Madam or Sir, Enclosed herewith please find your Owner Policy of Title Insurance on the above referenced transaction Your original Warranty Deed was filed w~th the County Clerk of Denton County, Texas It w~ll be returned to you by the County Clerk If you require anything further, please do not hesitate to call Thank you for selecting Dentex Title Company to asszst you wzth your title insurance needs It has been our pleasure to do business wzth you Sincerely, Kellle Stevens DENTEX TITLE COMPANY encl A10195 TEXAS RESIDENTIAL OWNER POLICY OF TITLE INSURANCE Issued by RO- 223251 Alamo Title Insurance of Texas TABLE OF CONTENTS PAGE OWNER'S COVERAGE STATEMENT 1 COVERED TITLE RISKS 1 OUR DUTY TO DEFEND AGAINST COURT CASES 1 SCHEDULE A 2 POLICY NUMBER, DATE AND AMOUNT 2 1 Name of Insured 2 2 Interest m Land Covered 2 3 Descnphon of the Land 2 SCHEDULE B - EXCEPTIONS 3 EXCLUSIONS 4 CONDITIONS 4 1 Dehn~t~ons 4 2 Continuation of Coverage 4 3 Your Duties ~f You Make a Claim 4 4 Our Choices When You Not~fy Us of a Claim 4 5 Handhng a Claim or Court Case 5 6 bm~tahon of Our L~ab~hty 5 7 Transfer of Your R~ghts 5 8 Arbitration 5 9 Enhre Contract Prows~on 5 10 Complaint Notme 5 Form T 1R Texas Residential Owner Pohcy of Title Insurance Effective January 1 1993 R-03 Property Catg.' R 1000. 1127 00 County Code: 121 TEXAS RESIDENTIAL OWNER POLICY OF TITLE INSURANCE PAGE 2 SCHEDULE A G F. No 95~1339D Policy Number: R0-223251 Issued with Policy #. Policy Date: May 20, 1996 at 3:18 P.I~ Policy Amount: $116,100. O0 Pr emiurm $1,127.00 1. Name of Insured. CITY OF DENTON, TEXAS 2. We insure your interest in the land covered by this Policy is. Fee Simple 3. Legal Description of land.' ALL THAT CERTAIN 1. $ ACRES OF LAND, MORE OR LESS, SITUATED IN THE GIDEON WALKER SURVEY, ABSTRACT NO. 1330, DENTON COUNTY, TEXAS, MORE PARTICULARLY DESCRIBED ON EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF Dentex Title Company By ~-- Kuthorized Countersigna~ur~ Alamo Title Insurance of Texas Form T-iR Texas Residential Owner Policy - Schedule A Effective January 1, 1993 EXHIBIT "A" A11 that certain ~ct ot pmtel of land, sih*ated in Denton Colmty, Texm, out of the Gideon Walker Storey and being out of tim Sonthwest comer of 138 flctes of land purchased by W. A. Edwards from John R. Heuty, and mom pmticul-,iy described m follows: BEGINNING nt the Southwest comer of said 138 acm THENCE East aionn the Sooth boundnry line thereof, 112.S yams mote m' less to the Southeast comer of a tract conveyed by W. A. Edwm~ls to S. M. Bradley, County ,hdse of Denton County, Texas. by deed doled Mm~cl~ 20, 1886, shown of tmcosd in Vol. 31, pane 109, Deed Reconls of Denton County, Texas; THENCE North with rite E~st boundmy line of said last mentioned hoot, ?S.13 vm~s to tim Northeast comer thet~eof; THENCE West 112.S yams mom or less to the Noflhwast co,ncr of o tract conveyed by W. A. Edwfuds to the Trustees of ltippey School by deed thtled November 18, 1881, shown of tmconJ in Volume S, pose 176, Deed i~ecmds of Deltton County, Texas; TIlENCE South with the West boundary line of said last mentioned ~nct vmM to rite place of besflnning and containing 1-1/2 acius of Iflnd, mo~e or less, being the some pt~operty conveyed to Neat C. While and Hazel White, his wife by Deed from %¥. H. Edwmds moo[tied in Vol 4Z8, Page S0 of the Denton County Deed Recmds. TEXAS RESIDENTIAL OWNER POLICY OF TITLE INSURANCE PAGE $ SCHEDULE B G.F. No. 95-1339D Policy No · R0-223251 EXCEPTIONS We do not cover loss, costs, attorneys' fees and expenses resulting frou~ 1 The followin~ restrictive covenants of record itemized below (We must either insert specific reoordinE data or delete this exception.). This exception is hereby deleted in its entirety 2 Any discrepancies, conflicts, or shortages in area or boundary lines, or any encroachments or protrusions, or any overlapping of improvements. 3 Homestead or comlnumity property or survivorship rights, if any, of any spouse of any insured 4. Any titles or riEhts 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 chansed 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 Iow tide to the line of vegetation, or the right of access to that area or easement alo11~ and across that area 5 Standby fees, taxes and assessments by any taxing authority for the year 1996 and subsequent years, and subsequent taxes and assessments by any taxing authority for prior years due to change in land usage or ownership 6 The followins matters and all terms of the documents creating or offerins evidence of the matters (We must insert matters or delete this exception.). a Rights of parties in possession. b Any visible and apparent easements over and across said property, the existence of which does not appear of record c Any part or portion of the herein described property lyinE within the boundaries of a public or private road or right of way. d Any outstanding oil, gas and other mineral interest owned by others of record in the office of the County Clerk of Denton County, Texas, including, but not limited to the following.' Oil, gas and mineral lease from Neal C White et al to Standard Oil Company of Texas filed July 8, 1957, recorded in Volume 430, Page 456 of the Deed Records of Denton County, Texas. Alamo Title Insurance of Texas Form T-IR Texas Residential Owner Policy - Schedule B Effective Jan 1, 1993 CONTINUATION OF SCHEDULE B G F No.: 95-1339D Policy No.: RO-223251 *Title to said mineral leases! reservations have not been researched subsequent to date of document. e No liability is assumed by reason of location of fences, a portion of the property lying within Foster Road, telephone lines, electric lines, power poles, light poles, and concrete and gravel driveways, as shown on survey dated April 18, 1996 by J.E Thompson RPLS #4857 Alamo Title Insurance of Texas Form T-IR Texas Residential Owner Policy - Schedule B Effective Jan 1, 1993 0Z:g~'Z:6Z:-008'I :~I"IVD '~LNIV~IdIAIOD V ~A~iVIAI O£ HO 'MOI~LVIAIHO~I.~I HOA ~ EXCLUSIONS ~ InadditlontotheExceptlonsinSchedulelB wedonot~nsureyouagainstlose costs affomeys tees endex flseareeugngfremtheseExeluslons t We do not cover loss caused by the exercise of govemmeotal pof~ce power or the enforcement or v o~l~tlon of any ~aw or gevemment regula on This Includes building and zoning ordinances and laws and regulahons concerning b Imprevemente on the land Land dlvlkion d Envirenmantal protechon This exclusion does not apply to notices of violations or notices of enforcement that appear in the public records at Policy Date However there may be an Exception In Schedule B 2 We do not cover the right to take the land by condemning ri unless a a notice of exercise of the right appears in the public records on the Policy Date or b the taking happened before the Policy Date and ki binding on you if you bought the land without knowing of the taking 3 We do not cover title ~sks a that arecreatap altowed oragreedto by you b that are known to you but not to us on the Policy Date unless they appeared In the public records d that result In no loss to you or d thef fled affect your itit e altar the Policy Data this bees not limit the leper and meferlal lien coverage In Item 6 of the Covered Title Risks 4 We do not cover the effect of felkire to pay value for your title 5 We do not cover lack of a right b in streets alleys or waterways that touch your ~and Thki exclukion does not limit the access coverage In the Covered TIge Rkike 6 We do not cover any ckibe based upon alkigeitons that your purchase of ttbe (or ecqukiltlon of ittl$ by g ft 0 0 berwee a was a fraudulent conveyance f audule~transfer voldapledistrlbu Ion orvoldapledvbend b should be subordmatad or recberecterlzed as a result of equitable subordination o was a preferential pansfer unless (1 the Company or Its issuing agent failed to it mely file for record the deed to you after dellvely 0 (2) the recordation of the deed to you Is not legel record notice (We do cover the ~ types of claims described In c 1) and c (2) above ) 7 Wa do not cover the refusal of any bereon to buy lease or lend money on your land because of unmarketability of the tl8e 8 We do not cover claims concerning the physical condition ct your land or of the access to your land CONDITIONS e Astual Loa~ This ki the difference between the value of your land without the covered title dsk and the value of your kind with the covered title dsk These values ere the respective values at the time you must furnish proof of your loss b Dccument A deed or other conveyance of title to you or a prior owner c Easement A odlanofyourlandsomeoneelsehastheitghttouseforaspaclelpurpose d Government I~eaulatien Any federal state or local law conMItutlonal provision regulation ordinance, or guideline e Land The land or condominium unit described in Schedule A and any ~mprovementa on the land that are real preberfy Knewledoe or known Actual knowledge not constructive knowledge or notice that may be Imputed to an Ir~ured bythe public records hg Mortoaee A type of I~en on the land such as a deed of trust or other security instrument Public Records Those records redu~red by Texas law and malcta~ned by public officials In the county where the property Is located that give legal notice of mattem affecting your I Title The ownership ~nterect m the [and as shown ~n Schedule A We. us or our The title ~nsurance company Th~s is Alamo Title Insurance of Texas You. your The ~neured 2 CONTINUATION OF COVERAGE We insure you as long as you a own your Title b own a mortgage from anyone who buys your Title or c are liable for any Title warranbes you make We insure anyone who receives your tdle because of your death We d0 nst Insure our trensferee or assignee You must follow this process to make a cknm a You Must GNa Us Netlce Of Your Claim If anyone claims a right against your insured hits you must notily us promptly Send the notice to 613 N W Loop 410 #100 San Antonio TX 78216 or call 1 800 292 5320 and ask for a claims attorney If you tnlgally notify us by phone we recommend that ~ou also notify us In wnhng Please ~nclude the Policy number shown In Schedule A and the county where the land ~s ur obliger kin to you Is reduced or ended If 1) you ta~l to g~ve prompt nohce anb (2) your failure affects our ability to dispose of or to defend you egalnsl the claim Our obligation Is reduced only to the extent that your failure affects our ability to d{sbose of or to defend you against the claim b You Must Gwe Us Proof of Your Loss d We Reauest It YOU must send to us ~f we request your s~gned proof of loss wrihln 91 days of our reduce on a e anpard om~ supp ed by US W h n 5 da s a e w~ receive your notice of claim we mum request a s~gned proof of loss If not we waive our right to require a po3ot of less This waiver will not waive our other rights u n ~/elr the policy The statement must have the following mformstion te the best of your knowledge (1) the Covered T~ite R~sks which resulted in your loss (2) the dollar amount of your loss and (3) the method you used to compute the amount of your loss c You Must Provide PaBers We Reauest We may require you to show us your records checks letters contracts and other papers that relate to your claim of loss We may make copies of these papers If you tell us th~s ~nformst~on ~s conhdenhal we w~ll not disclose ~t to anyone else unless we reasonably believe the disclosure IS necessary to administer the claim d You Must Answer Questions Under Oath We may ulre you to answer questions under oath e Effect of Fr~a lure to Coooerste Our obllgehon to you reduces or ends ~f you fa~l or refuse to (1) la) prowdeastatemectafloss (b answer our questions under oath or c) show us the papers we request and (2) your fa~kire or refusal affects our abllriy to d~spose of or to defend you egalnst the claim 4 OUR CHOICES WHEN YOU NOTIFY US OF A CLAIM a After we receive your claim notice or m any ether way learn of a matter for whkih we are iledki we can do one or more of tbe following (1) Pay the claim against your btle (2} Negohate a settlement (3) Prosecute or defend a court case related to the claim (4) Pay you the amount required by th~s Policy (5) Take other achon under Section 4b (6) Cancel th~s policy by paying the Policy Amount then m force and only those costs attorneys fees and expenses incurred up to that time that we are obi{gated to pay We can choose which of these to de b If you report to us that a covered t~tle nsk exists we w~ll promptly ~nvestlgate to dstermlne {f that covered title risk is valid and not barred by law or statute A covered #tie nsk is a Ctle nsk that this Pohcy does not exclude or except If we conclude that your claim or any part of your claim m covered by the policy we w~ll taka one or more of the follow~ng actions ~o the extent that it Is covered (1) Instltste all necessary legal proceedings to ~lear the hits to the propady (2) Indemnify you pursuant to the terms of the policy (3} Issue a new hits policy wrihout making exception to the cevered Cite r~sk II another insurer ~ssues the new title policy to your purchaser lender or other transferee wrihout making excophon to the covered hits risk we will indemnify the other Insurer (4) Secure a release of the covered title risk c Ifwedenyyourclalm or anypart ofyourcla~m not morethan 15daysafterwedanytheclalm wewll~ g~ve you the reasons for denial of your claim In wnitng PAGE 4