Loading...
HomeMy WebLinkAboutTitle Report2625 Bay Area Blvd., Suite 100 281-488-6683 ewartHouston, Texas 77058 281-488-7575 fax title 800-729-1900 stewarthouston.com NYSE:STC June 24, 2004 CITY OF LA PORTE P.O. BOX 1218 LA PORTE, TX 77572-1210 Re: GF No. 04114074 Policy 0-5893-000046229 Amount $550,000.00 Gentlemen: In connection with the transaction recently handled by us for you, we are pleased to enclose your title policy. Your deed has been filed for record with the County Clerk and after -recording, will be mailed directly to you. A special file has been set up on your property; and therefore, we are in a position to render you excellent service in future transactions. While the issuance of any future policies will depend upon a current examination and the status of title at that time, in the event you desire to sell or mortgage your property, please contact us promptly and we will expeditiously process your application. If 'taxes for the current year were not paid at the time your transaction was closed, you should pay them at the end of the year. Also, you should assess the property in your name at the Central Appraisal District office. Assuring you of our appreciation of this business and looking forward to again serving you, we are Cordially, 6 Lql'JJ.^/s1C39MIIYYrIJzK�)Tui31�i1 RHONDA TRAIL Escrow Officer TC Enc. FT(.J292002). Form T-I Owner Policy of Title Insurance 581 (Rev.4/4/02) If you want information about coverage or need assistance to resolve complaints, please call our toll free number 1-800-729-1902, If you make a claim under your policy, you must furnish written notice in accordance with Section 3 of the Conditions and Stipulations. visit our website at: httD://www.stewan.com File No.: 04114074 OWNER POLICY OF TITLE INSURANCE ISSUED BY STEWART TITLE GUARANTY COMPANY SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, STEWART TITLE 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 prodded in the Conditions and Stipulations. IN WIT tyc 1`NHEREOF, Stewart Title Guaranty Company has caused this policy to be signed and sealed by its duly author' e 0 1cers as of the Date of Policy shown in Schedule A. /✓ TEWART TITLE ' II GUARANTY COMPANY Chairman f the Boar n^'"""'""" Presi ent Co ersigned: o v 4 �3 `�LOAPOg4j'tZ.ii uthorized Countersig atur e�N4; 79g8 Company: FxAS"^i^'F Stewart Tide -Houston Division Houston, Texas EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay less 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 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. 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 which 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 unmarketability 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 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 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 on lien creditor. Serial No. 0-589346229 FT (6./2001) T-1 Form Prescribed by Texas Department of Insurance (Rev. 1/1/93) STEWART TITLE GUARANTY COMPANY SCHEDULE A File No.: 04114074 Date of Policy: June 02, 2004 Owner Policy No.: 0-5893-46229 Amount of Insurance: $550,000,00 Premium: $4,125.05 1. Name of Insured: CITY OF LA PORTE 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 LA PORTE 4. The land referred to in this policy is described as follows: A 3.6850 acre tract, more or less, out of the Johnson Hunter Survey, Abstract No, 35, Harris County, Texas, and being more particularly described by metes and bounds on Exhibit "A" attached hereto. NOTE: This Company does not represent that the acreage or square footage calculations on said Exhibit "A" are correct. EXHIBIT "A" REVISED SHORELINE FIELD NOTE DESCRIPTION OF 3.6850 ACRES OF LAND BEING A PORTION OF A CALLED 4.589 ACRES OF LAND BEING A PART OF A 19A ACRE TRACT SHOWN AS LOT 19 OF THE W.B. LOWRANCE SUBDMSION ACCORDING TO THE PLAT RECORDED IN VOLUME 1, PAGE 53 OF THE MAP RECORDS OF HARRIS COUNTY, TEXAS AND BEING IN THE JOHNSON HUNTER SURVEY, A-35, CITY OF LA PORTS, HARRIS COUNTY, TEXAS, SAID TRACT BEING THE SAME PROPERTY DESCRIBED IN VOLUME 4834, PAGE 158 FO THE HARRIS COUNTY DEED RECORDS; SAID 3.6950 ACRES BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS: BEGINNING, at a I -inch iron rod found marking the west corner of a said tract of land described in deed recorded in volume 4834, page 158 of the Deed Records of Harris County, Texas, said point being on the southeasterly right-of-way line of Bayshore Drive (80 feet wide); - THENCE, N 260 00' 00" E, and with the southeasterly right-ofway line of said Bayshore Drive, a distance of 63,92 feet to a 4- foot chain link fence post marking the west corner of a tract of land described in deed recorded in volume 232, page 188 of the Harris County Deed Records, said point bearing S 640 00' 00" E, a distance of 80.00 feet from the south comer of Block 17, of Bay Front Addition according to the plat recorded in volume 85, page 440 of the Deed Records of Hams County, Texas; THENCE; S 52' 25' 18" E, a distance of 54.15 feet to a 4-Coot chain link post found for a point for corner of the herein described tract; THENCE, N 370 57' 07" E, a distance of 50.00 feet to a 4-foot chain link post found for a point for comer of the herein described tract; TIMNCE, N 51 ° 55' 41" W, a distance of 64.83 feet to a 4-foot chain link post found on the southeasterly right-of-way line of said Bayshore Drive for a point for comer of the herein described tract; THENCE, N 26° 00' 00" E, along the southeasterly right-of-way line of said Bayshore Drive,. a distance of 287.57 feet to a (- inch iron rod found on the southwesterly line of Bay Shore Park Addition according to the plat recorded in volume 10, page 32 of the Hams County Map Records, said point being the north comer of the herein described tract; THENCE, S 51° 53' 54" E, and with the southwesterly line of said Bay Shore Park Addition, a distance of 389.74 feet to a 6- foot chain link post found for the east comer of the herein described tract, said point being on the west shore line of Galveston Bay, TTIENCE, following the meanders of the westerly shore line of Galveston Bay the following courses and distances: S 33° 02' 43" W, a distance of 43,04 feet to a point for comer, S 09° 03' IT' W, a distance of 66.43 feet to a point for comer, S 27° 58' 34" W, a distance of 49.70 feet to a point for comer;, S 14° 06' 14" E, a distance of 53.68 fat to a point for comer, S 29' 24' 10" W, a distance of 27.57 feet to a point for comer, S 39' 38' 5,4" W, a distance of 7 1. 81 feet to a point for comer, S 39' 37' 27' W, a distance of 72.89 feet to a point for comer, S 25° 41 ` 35" W, a distance of 21.41 feel to a 6-foot chain link post found 1.3 feet north of the south comer of the herein described tract, said point being on the north line of Sylvan Beach Park; TFIENCE, N 510 44' 36" W, along the north line of said Sylvan Beach Park, a distance of 409.17 feet to the POINT OF BEGINNING of the herein described tract and containing as aforesaid 3.6850 acres of land. 14 Dated he 1st cLy of A-pril, 2004 CHARLES E. BATES, Registered Professional Land Surveyor No. 4110 Job No. 2004124 FT (11/21/2002) T-1 Form Prescribed by Texas Department of Insurance (Rev. 1/1/00) File No.: 04114074 This policy does not attorney's fees or leases and easements, 1. Deleted. 2. Shortages in area. STEWART TITLE GUARANTY COMPANY SCHEDULE B EXCEPTIONS FROM COVERAGE Owner Policy No. 0-5893-46229 insure against loss or damage an the Company will not pay costs, expenses) that arise by reason of the terms and conditions of the if any, shown in Schedule A, and the following matters: 3. Homestead or community property or survivorship rights, if any of any spouse of any insured. 4. Any titles 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 rights of access to that area or easement along and across that area. 5. Standby fees, taxes and assessments by any taxing authority for the year 2004, and subsequent years, and subsequent taxes and assessments by any taxing authority for prior years due to change in land usage 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 for a previous tax year. 6. 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. b. An easement 10 feet wide along the Northerly property line, together with an aerial easement 5"feet wide from a plane 20 feet above the ground upward located adjacent thereto, as granted to Houston Lighting & Power Company by instrument recorded under Clerk's File No. D-332604 of the Real Property Records of Harris County, Texas. c. An aerial easement 20 feet wide from a plane 20 feet above the ground upward as granted to Houston Lighting & Power Company by instrument recorded under Clerk's File No. D-332604 of the Real Property Records of Harris County, Texas, and located as shown on sketch attached thereto. d. Subject to any easements, rights -of -way, roadways, encroachments, etc., which a survey or physical inspection of the premises might disclose. e. Rights of tenants and assigns, as tenants only, under currently effective lease agreements. Continued on next page Attached to and made a part of Stewart Title Guaranty Company Policy No, 0-5893-46229 File No.: 04114074 f. Guy wire lying outside of easement in northerly portion of subject property as shown on survey dated May 2, 2003 prepared by Charles E. Bates, R.P.L.S. No. 4110. IMPORTANT NOTICE TO OBTAIN INFORMATION OR MAKE A COMPLAINT: YOU MAY CALL STEWART TITLE GUARANTY COMPANY'S TOLL FREE TELEPHONE NUMBER FOR INFORMATION OR TO MAKE A COMPLAINT AT: 1-800-729-1902 YOU MAY ALSO WRITE TO STEWART TITLE GUARANTY COMPANY AT: P.O. BOX 2029 HOUSTON, TEXAS 77252-2029 YOU LvdAY CONTACT THE TEXAS DEPARTdviENT OF dNS'JRANCE T^vvBTAIN dN"r'OPc?vdi�TdON ON COMPANIES, COVERAGES, RIGHTS OR COMPLAINTS AT: 1-800-252-3439 YOU MAY WRITE THE TEXAS DEPARTMENT OF INSURANCE AT: P.O. BOX 149104 AUS I IN, TEXAS 78714-9104 FAX# (512)4754771 PREMIUM OR CLAIM DISPUTES: SHOULB YOU NAVE A BISPUTE CONCERNING YOUP. PREMIUM OR ABOUT A CLAIM, YOU SHO•JLD CONTACT THE COMPANY FIRST. IF THE DISPUTE IS NOT RESOLVED, YOU MAY CONTACT THE TEXAS DEPARTMENT OF INSURANCE. ATTACH THIS NOTICE TO YOUR POLICY: THIS NOTICE IS FOR INFORMATION ONLY AND DOES NOT BECAME P_ PART OF CONDITION OF THE ATTACHED DOCUMENT. Note: Attach this notice as the first, second or third page of the policy. FT (W2001) GLBA Privacy Policy Notice 1 STEWART TITLE GUARANTY COMPANY PRIVACY POLICY NOTICE PURPOSE OF THIS NOTICE File No.: 04114074 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 you with 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 STEWART TITLE GUARANTY COMPANY. 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 stuffers and other fulfillment service providers. WE DO NOT DISCLOSE 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. CONDITIONS AND STIPULATIONS Continued 5. PROOF OF LOSS OR DAMAGE. In addition to and after the notices required under Section 3 of these Conditions and Stipulations have 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 state, 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 examination, inspection and copying, at such reasonable times and places as may be designated by any authorized representative of the Company, all records, books, ledgers, checks, correspondence and memoranda, whether bearing a date before or after Date of Policy, which reasonably pertain to the loss or damage. Further, if requested by any authorized representative of the Company, the insured claimant shalt 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 pursuant to this Section shall not be disclosed to others unless, in the reasonable judgment of the Company, it is necessary in the administration of the claim. Failure of the insured claimant to submit for 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. (i) to pay or tender payment of the amount of insurance under this policy, together with any costs, attorneys' fees 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. (1) to pay or otherwise settle with other parties for or in the name of an insured claimant any claim insured against under this policy, mgether with any costs, attorneys' fees 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' fees 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. Upon the exercise by the Company of either of the options provided for in paragraphs (b)(i) or (ii), the Company's obligations to the insured under this policy for the claimed loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation. 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 liability of the Company under this policy shall not exceed the least of: (i) the Amount of Insurance sated in Schedule A; (it) 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 encum- brance insured against by this policy at the date the insured claimant is required to famish 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 sated in Schedule A at the Date of Policy is less than 80 percent of the value of the insured estate or interest or the Poll consideration paid for the land, whichever is less, or if subsequent to the Date 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: (i) where no subsequent improvement has been made, as to any partial loss, die Company shall only pay the loss pro ram in the proportion that the amount of insurance at Date of Policy bears to the total value of the insured estate or interest at Date of 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, attorney's fees and expenses incurred in accordance with Section 4 of these Conditions and Stipulations. S. 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 raga basis as if the amount of insurance under this policy was divided pro raa as to die 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 takes action in accordance with Section 3 or Section 6, in a reasonably diligent manner by any method, including litigation and the completion of any appeals therefrom, it shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or damage caused thereby. (b) In the event of any litigation, including litigation by the Company or with the Company's consent, the 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 title 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 Insurance pro anto. 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 to which the insured has agreed, assumed, or taken subject to, 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. (continued and emtcluded on last page of this policy) (Owner's Policy)