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OWNER POLICY OF TITLE INSURANCE ISSUED BY Title Resources Guaranty Company 11 098808 SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, Title Resources Guaranty Company, a Texas 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, Title Resources Guaranty Company has caused this policy to be signed and sealed by its duly authorized officers as of Date of Policy shown in Schedule A. Title Resources Guaranty Company By /13, Q~ President ~ fL~mt~ 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' fees 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 defec~ 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 laking that has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. FORM T-1: Owner's Policy of Title Insurance 3. Defects. 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 Date 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 to purchase. lease or lend money on the estate or interest covered hereby in the land described in Schedule A because of un marketability of the title. 5. Any claim which arises out of the transaction vesting in the person named in paragraph 3 of Schedule A the 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 of the Insured by this Policy being deemed a fraudulent conveyance or fraudulent transfer or a voidable distribution or voidable dividend, (ii) the subordination or recharacterization of the estate or interest being 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. (For Use Only in Texas) Effective 10/1/1997