HomeMy WebLinkAboutGeneral Warranty Deed - MRC Ventures, LP - 107 WOODLAWN DR NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL
PERSON, YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE
FOLLOWING INFORMATION FROM THIS INSTRUMENT BEFORE IT
IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL
SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER.
GENERAL WARRANTY DEED WITH VENDOR'S LIEN
THE STATE OF TEXAS §
§ KNOW ALL BY THESE PRESENTS:
COUNTY OF GALVESTON §
THAT THE UNDERSIGNED, CITY OF FRIENDSWOOD, a body corporate and
politic, herein called "Grantor", acting hereunder through its duly authorized Mayor David
Smith, for and in consideration of the sum of $10.00 cash and other good and valuable
consideration to Grantor in hand paid by MRC VENTURES, LP, a Texas limited partnership,
herein called "Grantee", whose address is 107 Sunset Drive, Friendswood, Texas 77546, the
receipt of which is hereby acknowledged, and the further consideration of the execution and
delivery by the Grantee herein of that one certain promissory note given for part of the purchase
price of the herein-described property, dated of even date herewith in the original principal
amount of ONE 9UNDRE.D FIFTY-SEVEN THOUSAND FIVE HUNDRED AND NO1100
DOLLARS ($157,500.00) or so much thereof as advanced, payable to the order of Moody
National Bank, payable as in said note provided, and bearing interest as therein provided,
containing the usual clauses providing for acceleration of maturity and for attorney's fees, the
payment of which note is secured by the vendor's lien herein retained and is additionally secured
by a Deed of Trust of evert date herewith to T. Craig Barker, Trustee,
HAS GRANTED, SOLD AND CONVEYED, and by these presents does hereby
GRANT, SELL AND CONVEY, unto Grantee that certain tract or parcel of land described as
Restricted Reserve "B" of the Final Plat of Kenneth Camp Subdivision, a subdivision in the City
of Friendswood, Galveston County, Texas, according to the map or plat thereof recorded under
Galveston County Clerk's File No. 2006-051832, Map Records of Galveston County, Texas,
together with: all improvements located thereon; all oil, gas and other minerals lying thereunder
and not otherwise expressly reserved to another, and the royalties, bonuses, rentals and all other
rights in connection with same; all rights, privileges and appurtenances pertaining to all of the
foregoing, including Grantor's right, title and interest in any utilities and adjacent strips and
gores; Grantor's interest in all leases, rents, and security deposits for all or part of the foregoing;
Grantor's interest in any claims heretofore arising for, upon or by reason of any damages to the
land and improvements thereon; and Grantor's interest in all licenses and permits,related to all or
any part of the foregoing; all of the foregoing being collectively hereinafter called "The Land".
This conveyance is made and accepted subject to the following matters to the extent they
are in effect at this time and relate to The Land: the lien for current ad valorem taxes and
Page 1 of 4
maintenance assessments (if any) not in default; and any and all zoning laws, regulations and
ordinances of municipal and/or other governmental authorities, if any, to which The Land is
subject.
Grantor has further granted, sold and conveyed, and does hereby further grant, sell and
convey, unto Grantee surface water drainage capacity in the detention/retention facility to be
constructed by Grantor on that certain real property adjacent to The Land, same being described
as Restricted Reserve "A" of the Final Plat of Kenneth Camp Subdivision, a subdivision in
Galveston County, Texas, according to the map or plat thereof recorded under Galveston County
Clerk's File No. 2006-051832, Galveston County Map Records, said Restricted Reserve "A"
being hereinafter referred to as the "Detention Property," and the right and license to use the
Detention Property for the purposes of depositing, discharging and draining storm waters from
The Land into the detention/retention facility to be constructed on the Detention Property as
provided below. Grantee shall be, and is hereby, further authorized to erect, construct, re-
construct, maintain and repair ditc.11es, pipes, valves, and other facilities or appurtenances,
whether above ground or under ground, on the Detention Property that are reasonably necessary
to convey and connect such surface waters from The Land to the detention/retention facility
within the Detention Property. The location of all facilities to be constructed on the Detention
Property by Grantee shall be subject to the prior approval by Grantor, which approval shall not
be-unreasonably withheld.
Grantor shall, within nine (9) months following receipt of detention requirements for
proposed development on The Land, construct and commence operation, at its sole cost and
expense, of a surface water discharge or detention/retention facility on the Detention Property
that provides all capacity required, under all regulatory requirements in existence as of the date
hereof.'and by all governmental entities having jurisdiction, for all commercial development to be
constructed by Grantee on The Land, with such facilities to be constructed in accordance with
the rules and regulations of all governmental entities having jurisdiction and in a manner
designed to serve both The Land and any development to occur in Block One of the Final Plat of
Kenneth Camp Subdivision., a subdivision in the City of Friendswood, Galveston County, Texas,
according to the map or plat thereof recorded under Galveston County Clerk's File No. 2006-
051832, Map Records of Galveston County, Texas. Construction of such detention/retention
facility shall be in accordance with the tenns and provisions hereof and at the sole cost and
expense of Grantor.
Grantor shall operate and maintain in good condition and repair the detention/retention
facility on the Detention Property. Grantee does not, and shall not, have any obligation to
construct all or any part of the detention/retention facility on the Detention Property, but shall
share in the maintenance costs therefor in proportion to the capacity thereof devoted to The
Land. Grantee, for itself and its successors and assigns, agrees to reimburse Grantor, its
successors and assigns, the reasonable costs for such maintenance, prorated as herein provided.
Grantee shall remit payment therefor within thirty days of any statement for such charges.
Grantee shall be responsible for all costs and expense of construction, re-construction,
maintenance and repair of those drainage facilities and appurtenances necessary to convey storm
waters from The Land to the detention/retention facility on the Detention Property.
Page 2 of 4
Should Grantor refuse or otherwise fail to commence construction and thereafter
promptly complete construction of said surface water discharge and detention/retention facility
on the Detention Property as required hereinabove, Grantee may, after giving Grantor at least
ninety (90) days prior written notice, undertake all action necessary to commence and complete
construction of said surface water discharge and detention/retention facility on the Detention
Property. In such instance, Grantor shall be obligated to reimburse Grantee for the reasonable
and customary cost thereof based upon the prevailing rates at the time such work is performed,
and Grantor shall remit payment therefor within thirty days of a statement for such charges.
The foregoing rights and licenses shall run with The Land and, as such, shall exist in
perpetuity to the benefit of Grantee and its successors and assigns excepting only that, if Grantor
or another governmental entity operating public drainage facilities or drainage systems provides
Grantee and its successors and assigns with permanent alternative surface water discharge
capacity that otherwise meets all of the requirements set forth above and at no cost to Grantee
and its successors and assigns (collectively, "the provision of no cost, offsite access") but
without utilization of the Detention Property, the foregoing rights and licenses shall terminate.
TO HAVE AND TO HOLD The Land and the foregoing rights and licenses, together
with all rights and appurtenances thereto in anywise belonging, subject to the foregoing terms,
unto Grantee, its successors and assigns forever, and Grantor does hereby bind itself and its
successors and assigns to warrant and forever defend The Land and foregoing rights and
licenses, subject to the foregoing terms, unto Grantee, its successors and assigns against every
person and entity whomsoever lawfully claiming or to claim the same or any part thereof.
BUT IT IS EXPRESSLY AGREED that the VENDOR'S LIEN, AS WELL AS THE
Superior Title in and to the above described premises, is retained in favor of Grantor against the
above described property, premises and improvements, and is hereby transferred to Moody
National Bank, the holder of the aforesaid note, until the above described note and all interest
thereon are fully paid according to the face, tenor, effect and reading thereof, when this Deed
shall become absolute.
Whenever used in this document, unless the context clearly indicates a contrary intent or
wiless otherwise specifically provided herein, the pronouns of any gender shall include the other
genders, including the neuter, and either the singular or plural shall include the other.
All ad valorem taxes and assessments on The Land have been prorated between the
parties hereto as of the effective date of this Deed set forth below, and Grantee assumes liability
for the payment thereof and for all subsequent years.
EXECUTED THE DAY OF , 2006.
Page 3 of 4
ATTEST:
Name: ____________ _ Title: -------------
THE STA TE OF TEXAS § § &,o_\ \J !::. n:>h
CITY OF FRIENDSWOOD
��r.�� Title: . \JY\A?10 CL
COUNTY OF BRAZORIA'.: § . .
l)T�is igitrwnent was acknowl�d,lled before me on the fcJf/4ay of� , 2006by A--4 1 &.J H-S rh··d-�. , \'{ D.� or of and on behalf of City of Friendswood, a body corporate and politic, to be effective on the date as set forth above.
\\,1111,,,, .,�*!!-' �r1-� �.::;;: :-:.1-� %j;, ..... J} ... ,,tf,r.�,1\, ........
MARY LANIER
Notary Public, State of Texas 1
My Commission Expires 1
August 07, 201 0 l
Q& ��-!-
AFTER RECORDING RETURN TO:
WI/IA��
•1c in and for the State of Texas
Page 4 of 4
.,/
G:t PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC)
AMENDMENT
02-13-06
EOUALHOUSIHG, Ol>PORi\JNTTY TO CONTRACT CONCERNING THE PROPERTY AT
215 W. Edgewood Friendswood
(Street Address and Cijy)
Seller and Buyer amend the contract as follows: (check each applicable box) D (1) The Sales Price in Paragraph 3 of the contract is:
A.Cash portion of Sales Price payable by Buyer at closing ............ $ _______ _
B.Sum of financing described in the contract ....................... $ _______ _
C.Sales Price (Sum of A and B) .................................. $ _______ _ 0 (2) In addition to any repairs and treatments otherwise required by the contract, Seller, at Seller's
expense, shall complete the following repairs and treatments:
□ (3)□(4)
The date in Paragraph 9 of the contract is changed to _________ _ __ _
The amount in Paragraph 12A(1)(b) of the contract is changed to$ ________ _ □(5) The cost of lender required repairs and treatment, as itemized on the attached list, will be paid
as follows: $ _________ by Seller;$ _________ by Buyer. □ (6) Buyer has paid Seller an additional Option Fee of$ __________ for an extension of the
unrestricted right to terminate the contract on or before _______________ _
____ . This additional Option Fee O will O will not be credited to the Sales Price. 0 (7) Buyer waives the unrestricted right to terminate the contract for which the Option Fee was paid. D (8) The date for Buyer to give written notice to Seller that Buyer cannot obtain Financing Approval as set
forth in the Third Party Financing Condition Addendum is changed to __________ _
� (9) Other Modifications: (Insert only factual statements and business details applicable to this sale.)
The time in paragraph lO(a) shall be changed to 45 days after
feasibility period.
EXECUTED the ___ day of _________ _ _ __ . (BROKER: FILL IN THE
DATE OF FINAL ACCEPTANCE.)
Buyer
M.R.C. Ventures,LP
�'>DJ r ----�
City of Friendswood
Buyer Seller
This form has been approved by the Texas Real Estate Commission for use with similarly approved or promulgated contract
forms. Such approval relates to this form only. TREC forms are intended for use only by trained real estate licensees. No
representation is made as to the legal validity or adequacy of any provision in any specific transactions. It is not intended for
complex transactions. Texas Real Estate Commission, P.O. Box 12188, Austin, TX 78711-2188, 1-800-250-8732 or (512) 459-
6544 (http://www.trec.state.tx.us) TREC No. 39-6. This form replaces TREC No. 39-5.
(TAR-1903) 2-13-06
Keller Williams Realty I 012 Applewood Friendswood, TX 77546 Phone: (281) 648 -3492 Fax: James Gerland
Produced wijh ZipForm™ by RE FormsNet, LLC 18025 Fifteen Mile Road, Clinton Township, Michigan 48035 www.zipform.com
Page 1 of 1
Lot 2 Kennith
;---:.
File No. 842049-HO45 -ML
SELLER'S AND/OR PURCHASER'S/BORROWER'S STATEMENT
. I have carefully rev.iewed the HUD-1/Settlement Statement and to the best of my knowledge and belief, it is a
true and accurate statement of all receipts and disbursements made on my account or by me in this transaction.
I further certify that I have received a copy of the HUD-1/Settlement Statement.
The Seller's and Purchaser's/Borrower's signatures hereon acknowledge their approval and signify their
understanding that tax, arid insurance prorations and reserves are based on figures for the preceding year or
supplied by others or estimated for the current year, and in the event of any change for the current year, all
necessary adjustments will be made between Purchaser/Borrower and Seller directly. Any deficit in delinquent
taxes or mortgage payoffs will be promptly reimbursed to the Settlement Agent by the Seller.
The following persons, firms or corporations have received a portion of the real estate commission amount shown
above (HUD Line(s) 701-704):
1.The Gerland Team
2.
3.
4.
I hereby authorize the Settlement Agent to make expenditures and disbursements as shown above and approve
same for payment.
Purchaser(s)/Borrower(s)
M.R.C Ventures, LP, a Texas Limited
Partnership, a Texas Limited Partnership
By: MRC GP, a Texas Limited Liability
Company, General Partner
Seller(s)
City of Friendswood
iJ!JJ £ Jtl�By: Michael A. Wegner, Member
September 14, 2006
Dated j� � tj-.5CJ8 :;--; (1)
Borrower(s) Forwarding Address:
September 14, 2006
Date
Seller(s) Forwarding Address:
i�ld}. �WClocl, M7)sv0 -----=-------
The HUD-1 Settlement Statement which I
have caused .tff will cause the funds to be d. ve prepared is a true and accurate account of this transaction. I
rsed in accordance with this statement.
Date: September 14, 2006
-
File No. 842049-HO45 -ML
SELLER'S AND/OR PURCHASER'S/BORROWER'S STATEMENT
I have carefully reviewed the HUD-1/Settlement Statement and to the best of my knowledge and belief, it is a
true and accurate statement of all receipts and disbursements made on my account or by me in this transaction.
I further certify that I have received a copy of the HUD-1/Settlement Statement.
The Seller's and Purchaser's/Borrower's signatures hereon acknowledge their approval and signify their
understanding that tax, and insurance prorations and reserves are based on figures for the preceding year or
supplied by others or estimated for the current year, and in the event of any change for the current year, all
necessary adjustments will be made between Purchaser/Borrower and Seller directly. Any deficit in delinquent
taxes or mortgage payoffs will be promptly reimbursed to the Settlement Agent by the Seller.
The following persons, firms or corporations have received a portion of the real estate commission amount shown
above (HUD Line(s) 701-704):
1.The Gerland Team
2.
3.
4.
I hereby authorize the Settlement Agent to make expenditures and disbursements as shown above and approve
same for payment.
Purchaser( s )/Borrower( s)
M.R.C Ventures, LP, a Texas Limited
Partnership, a Texas Limited Partnership
By: MRC GP, a Texas Limited Liability
Company, General Partner
tl!JJ£1f/e.pwBy: Michael A. Wegner, Member
September 14, 2006
Date
Borrower(s) Forwarding Address:
Seller(s)
City of Friendswood
September 14, 2006
Date
Seller(s) Forwarding Address:
The HUD-1 Settlement Statement which I have prepared is a true and accurate account of this transaction. I
have caused or will cause the funds to be disbursed in accordance with this statement.
Settlement Agent: ____________ _ Date: September 14, 2006
WARNING: It is a crime to knowingly make false statements to the United States on this or any other similar
form. Penalties upon conviction can include a fine and imprisonment. For details, see: Title 18 U.S. Code
Sections 1001 and 1010.
Title Company:
File No.:
Purchaser(s)/Borrower(s):
Seller(s):
Lender:
Property:
CLOSING AFFIDAVIT
SELLER/PURCHASER/BORROWER
First American Title Insurance Company
842049-HO45
M.R.C Ventures, LP, a Texas Limited
City of Friendswood
Moody National Bank
All that certain 1.2848 acres being all of Restricted Reserve "B", Kenneth Camp
Subdivision according to the plat thereof as filed in Film Code No. 2006051832,
Galveston County Map Records and being more particularly described by metes and
bounds as follows (bearings based on the Recorded Plat of said Kenneth Camp
Subdivision);
BEGINNING at a found 1/2" iron rod marking the west corner of said Restricted
Reserve "B" and marking the intersection of the southeasterly right-of-way line of
FM 2351 (Edgewood) (100' wide) and the northeasterly right-of-way line of
Woodlawn Avenue (60' wide);
THENCE N 45° 00' 00" E -150.00' with the southeasterly right-of-way line of said
FM 2351 to a found 1/2" iron rod for corner;
THENCE S 45° 00' 00" E -190.00' with the southwesterly line of that certain tract
described in deed dated 6/30/1975 from Alan Wade McGinnis, et ux to Ed R.
Spradley, et ux as filed in Volume 2667, Page 889, Galveston County Deed Records
to a found 5/8" iron rod for corner from which a found 1/2" iron rod bears N 52° 19'
41" E -0.25' from said point;
THENCE N 45° 00' 00" E -64.58' with the southeasterly line of said Spradley tract to
a found 5/8" iron rod with cap (stamped C.L. DAVIS-RPLS 4464) for corner;
THENCE S 45 ° 00' 00" E -128.00' to a found 5/8" iron rod with cap (stamped C.L.
DAVIS-RPLS 4464) for corner;
THENCE S 45° 00' 00" W -214.58' to a found 5/8" iron rod with cap (stamped C.L.
DAVIS-RPLS 4464) for corner;
THENCE N 45° 00' 00" W -318.00' with the northeasterly right-of-way line of said
Woodlawn Avenue to the POINT OF BEGINNING and containing 1.2848 acres
(55,966 square feet) of land more or less.
By initialing one or more of the following items as may be appropriate for this transaction, each Seller
and/or Buyer/Borrower acknowledges understanding of the disclosures being made by Title Company and affirms
the representations made to them by Title Company as indicated. Each such disclosure or representation may
jointly benefit both First American Title Insurance Company and its underwriter.· Singular reference to Seller,
Buyer and Borrower includes multiple individuals/entities identified above.
Any numbered item not applying to this transaction may be crossed out.
Buyer(s) 1)
Initials:
Buyer(s)/ 2)
Borrower(s)
Initials:
WAIVER OF INSPECTION: You may refuse to accept an exception to
"Rights of Parties in Possession" in the Owner Title Policy to be issued. "Rights
of Parties in Possession" means one or more persons who are themselves
actually physically occupying the Property or a portion thereof, under a claim
of right adverse to the record owner of the Property. Title Company may
require an inspection and may charge for reasonable and actual costs to
inspect. Title Company may make additional exceptions for matters the
inspection reveals. If you initial this paragraph, you waive inspection of the
Property and you accept the exception in your Owner Title Policy.
RECEIPT OF TITLE COMMITMENT: You acknowledge having received and
reviewed a copy of the Title Commitment issued in connection with this
transaction and you understand that your bwner Title Policy will contain the
exceptions set forth in Schedule B of the Title Commitment, and any additional
exceptions to title resulting from the documents involved in this transaction.
Page 1
Seller(s)
Initials: d>
Buyer(s)/ 3)
Borrower(s)
Initials:
Buyer(s) 4)
Initials:
Buyer(s) . 5)
Initials:
Buyer(s)/ 6)
Borrower(s)
Initials:
CLOSING AFFIDAVIT
SELLER/PURCHASER/ BORROWER
NOTICE: You may wish to consult an attorney to discuss matters shown in
Schedule B or C of the Title Commitment. These matters will affect your title
and use of your Property. Your Owner Title Policy will be a legal contract
between you and the Title Company. The Title Commitment and Owner Title
Policy are not abstracts of title, title reports or representations of title. The
Owner Title. Policy is a contract of indemnity. Title Company does not
represent that your intended use of the Property is allowed under the law or
under the restrictions or exceptions to title on your Property.
ACCEPTANCE OF SURVEY: Buyer has received and reviewed a copy of the
survey of the Property made in connection with this transaction and
acknowledges being aware of the following matters of conflict,
encroachment(s) and/or discrepancies disclosed by the survey:
UNSURVEYED PROPERTY: Buyer understands that a current survey of the
Property has not been done in connection with this transaction and that the
Owner Title Policy to be issued to Buyer will not provide title insurance
coverage against encroachment of improvements, boundary conflicts, or other
matters that would be found by a current survey. Title Company has not
attempted to determine if the Property lies in a special flood hazard area, and
Title Company has not made any representation concerning proximity of the
Property in relation to any flood-plain or flood hazard area. Buyer is advised
that information concerning special flood hazard areas may be available from
county or municipal offices, a qualified surveyor or land=engineering company,
or a private flood-plain consultant.
REFINANCE/PURCHASE -SURVEY: Borrower understands that in
connection with the present refinance or purchase transaction First American
Title Insurance Company has been requested to issue its Mortgagee Title Policy
to the Lender, and that in said Mortgagee Title Policy certain survey coverage
has been requested by the Lender for which a new survey is typically required.
Borrower also understands that he/she may provide this affidavit to the Title
Company together with an original or legible copy of a previous survey in lieu
of a new survey being obtained.
Attached hereto is a true and correct copy of a survey dated 08/07/06,
prepared by C.L. Davis RPLS # 4464, (hereinafter the "Previous Survey").
The present transaction will not cover any other property other than the
property described in the Previous Survey.
Before me, the undersigned notary for the State of Texas, personally appeared
Affiant(s) who after by me being sworn, stated:
A)We are the owners of the Property. (or state other basis for knowledge by
Affiant(s) of the Property, such as lease, management, neighbor, etc. For
example, "Affiant is the manager of the Property for the record title
owners.")
B)We are familiar with the property and the improvements located on the
Property.
C)We are closing a transaction requiring title insurance and the proposed
insured owner or lender has requested area and boundary coverage in the
title insurance policy(ies) to be issued in this transaction. We understand
that the Company may make exceptions to the coverage of the title
insurance as Company may deem appropriate. We understand that the
owner of the property, if the current transaction is a sale, may request a
similar amendment to the area and boundary coverage in the Owner
Policy of Title Insurance upon payment of the promulgated premium.
D)To the best of our actual knowledge and belief, since there have been no:
1.construction projects such as new structures, additional buildings,
rooms, garages, swimming pools or other permanent improvements or
fixtures;
2.changes in the location of boundary fences or boundary walls;
3.construction projects on immediately adjoining property(ies) which
encroach on the Property;
4.conveyances, replattings, easement grants and/or easement
·dedications (such as a utility line) by any party affecting the Property.
E)We understand that Title Company is relying on the truthfulness of the
statements made in this affidavit to provide the area and boundary
coverage and upon the evidence of the existing real property survey of the
Page2
Seller(s)
Initials:
¢
Seller(s)
Initials:
�
Buyer(s)
Initials:
CLOSING AFFIDAVIT
SELLER/PURCHASER/ BORROWER
Property attached to this Affidavit. This affidavit is not made for the
benefit of any other parties and this affidavit does not constitute a
warranty or guarantee of the location of improvements.
F)We understand that we have no liability to Ti�le Company or the title
insurance company that will issue the policy(ies) should the information in
this Affidavit be incorrect other than information that we personally know
to be incorrect and which we do not disclose to the Title Company.
7)PROPERTY TAX PRORATIONS: Property taxes for the current year have
been prorated between Buyer and Seller, who each acknowledge
understanding that these prorations are based either on tax amounts for the
preceding year or on estimates of the appraised value and/or estimated tax
rates for the current year. Buyer and Seller each agree that, when amounts of
the current year's taxes become known and payable ( on or about October 1st),
they will adjust any matters of re-proration and reimbursement between
themselves and that Title Company shall have no further liability or obligation
with respect to these prorations. However, in the event of any conflict between
this paragraph and the contract between Buyer and Seller, the contract will
control.
Buyer(s)/
Borrower(s)
Initials:
7a) UNIMPROVED TAX RESERVE TO LENDER: Buyer is aware that the escrow
account being created at closing is based on partially unimproved taxes. Buyer
also understands there is a possibility that the escrow account held by Lender
may be short at the end of the year and the Lender could require additional
money to make up the shortage or the Lender can increase the monthly
payment to collect this shortage.
Buyer(s)
Initials:
Buyer(s)
Initials:
Buyer(s)
Initials:
8)TAX RENDITION AND EXEMPTIONS: Although the Galveston County
Appraisal District (AD) may independently determine Buyer's new ownership
and billing address through deed record research, Buyer is still obligated by law
to "render" the Property for taxation by notifying the AD of the change in the
Property's ownership and of Buyer's proper address for tax billing. Buyer is
advised that taxes may have been assessed on the basis of various exemptions
obtained by Seller:
1)Homestead
2)Over-65
3)Disabled veteran
4)Agricultural
To the extent that Buyer may qualify to continue these exemptions, it is the
responsibility of Buyer to satisfy requirements of the AD within the period of
time allowed. Buyer acknowledges understanding of these obligations and the
fact that Title Company assumes no responsibility for future accuracy of AD
records concerning ownership, tax-billing address or status of exemptions.
Sa) OVER 65 EXEMPTION: The property taxes on the above
referenced property are assessed with an over 65 exemption. If
the Buyer is not entitled to this exemption, the taxing authorities
are. authorized by law to remove the exemption as of the date of
sale and assess the taxes for the remainder of the year at the non
exempt rate. The taxing authorities may send a supplemental tax
bill assessing the remainder of the current year's taxes without the
exemption. Buyer acknowledges sole responsibility for the
payment of and that the Title Company shall have no liability or
obligation with respect to any supplemental tax bill. Further,
unless instructed otherwise by the lender, the escrow (if any) was
established using calculations based on the most recently available
tax amounts, with the exemption. Therefore, the lender may, once
the new tax amounts are established, adjust the Buyer's escrow
payment to reflect the increased tax amount.
Sb) AGRICULTURAL EXEMPTION: Seller and Buyer hereby acknowledge they
are aware the real property being purchased is subject to an agricultural
exemption on the tax roll. The Title Company assumes no responsibility for
any future roll back taxes and Buyer understands and agrees, if the taxing
authorities roll back taxes due to the exemption being removed, they will be
responsible for all future taxes assessed by the taxing authorities and hold the
Title Company harmless from any claim that may arise due to. this exemption
Page 3
Seller(s)
Initials:
5fl_
Seller(s)
�
Buyer(s)
Initials:
Buyer(s)
Initials:
Buyer(s)
Initials:
Buyer(s)
Initials:
CLOSING AFFIDAVIT
SELLER/PURCHASER/BORROWER
being removed from the tax roll.
9). SPUT OUT -TAX't:S: Seller and Buyer agree and understand the taxes need
to be "split out" at t e ppraisal District. By our initialing this section, we
agree to hold the Tit Company harmless from any claim that may arise due
to any further adju m ts of the prorations after closing.
10)PRIOR YEAR TAXES PAID: Seller certifies all taxes for prior years have
been paid in full. The undersigned Seller further agrees to reimburse Title
Company for any and all unpaid taxes, penalties, interest and attorney fees
due to taxes being due and/or unpaid as determined by the AD and/or taxing
authorities.
Seller further agrees that any default in prior payment of property taxes, either
current or delinquent, will on demand, be promptly reimbursed by Seller to
Title Company.
11)ACCEPTANCE OF REPAIRS: If Seller and Buyer have previously agreed
upon Seller's obligation to perform certain repairs to the Property prior to
closing, both parties affirm that all agreed upon repairs have been completed,
and Buyer accepts such repairs as being completed to Buyer's satisfaction.
11a) REPAIRS SUBSEQUENT TO CLOSING: If Seller and Buyer have agreed
upon Seller's obligation for certain repairs or other work affecting the Property
to be performed after closing, both Buyer and Seller acknowledge their
understanding that Title Company shall have no duty or responsibility
concerning completion, quality of workmanship or materials, or payment for
such post-closing repairs or work to or on the Property.
12)HOMEOWNER'S ASSOCIATION: Buyer acknowledges notification that
ownership of the Property involves membership in a Homeowner's or Property
Owner's Association to which monthly or annual dues or assessments will be
owed that may be enforceable by a lien against the Property. Buyer
understands that the Association ( or its managing agent) should be contacted
by Buyer directly to ascertain the exact amount of future dues or
assessments. Title Company disclaims any knowledge of, and has made no
representations with respect to, the Association's annual budget, pendingrepairs or deferred maintenance, if any, or other debts of the Association.
Buyer accepts sole responsibility to obtain such information and verify its
accuracy to Buyer's satisfaction.
13)COMMON KEY NOTICE: Buyer acknowledges that the Property being
purchased has been and presently is accessible by means of a common or
master key used by the Seller for this and other properties. Buyer is advised
to have all locks on the Property immediately re-keyed, which will be at Buyer's
expense. Buyer hereby releases Seller and Title Company from liability for any
loss, damage, or injury that may result from future unauthorized entry by
means of the common or master key.
14)ARBITRATION:
A.VACANT LAND
You may require deletion of the arbitration provision of the Owner Title
Policy. If you do not initial this provision, either you or the Company may
require abitration, if the law allows. There is no charge to delete this
provision.
B.SELLER FINANCE
You may req�
�
ele 'ion of the arbitration provision of the Mortgagee Title
Policy. If you d o initial this provision, either you or the Company may
require arbitration the law allows. There is no charge to delete this
provision.
Seijer(s) Buker(s) , 15)
Initials:
POWER OF A�RNEY:/rhis transaction involves the··use of a Power of
'-I ,. . een granted to to act as agent and attorney-in-fact
Company must confirm that said Power of Attorney is
Prinapal Contacted: _________ _
(Ratified by) Date and Time Principal contacted: ____ _
Page4
Seller(s)
Initials: {n
Seller(s)
Initials: 03 .......... -
Buyer(s)
Initials:
CLOSING AFFIDAVIT
SELLER/PURCHASER/BORROWER
Phone Number: ___________ _
16)CLOSING DISCLAIMER: Seller and Buyer each acknowledge understanding that
the above referenced transaction has not yet "closed". At this time, any change in
possession of the Property takes place AT BUYER'S AND SELLER'S OWN RISK. THIS
TRANSACllON HAS NOT "CLOSED" UNTIL:
A)ALL TITLE REQUIREMENTS ARE COMPLETED TO THE SATISFACllON OF TITLE
COMPANY;
B)ALL NECESSARY DOCUMENTS ARE PROPERLY EXECUTED, REVIEWED, AND
ACCEPTED BY THE PARTIES TO THIS TRANSACllON, INCLUDING THE LENDER IF
ANY, AND BY TITLE COMPANY;
C)ALL FUNDS ARE COLLECTED AND DELIVERED TO AND ACCEPTED BY THE PARTIES
TO WHOM THEY ARE DUE; AND
D)ALL NECESSARY DOCUMENTS ARE FILED OF RECORD IN THE APPROPRIATE
PUBLIC RECORDS.
Buyer and Seller also recognize that neither Title Company nor its underwriter are
under any obligation to defend possession of the Property or to insure title of the
Property, until such time as the above stated requirements have been fulfilled.
17)NON-RESIDENT AUEN: Seller is not a non-resident alien for purposes of United
States Income Taxation.
Page 5
Seller(s)
Initials:
�
Buyer/ 18)
Borrower(s)
Initials:
CLOSING AFFIDAVIT
SELLER/PURCHASER/BORROWER
DISCLOSURE TO PURCHASER: Undersigned Buyer/Borrower ("Undersigned")
acknowledges that Title Company has NOT performed a search of the real property
records with reference to possible federal or state tax liens, abstract of judgements,
or other involuntary liens which may have been filed against the Undersigned.
Undersigned understands that such involuntary liens may need to be released prior
to the resale or mortgaging of this property. The owner policy of title insurance
does not protect the insured against involuntary liens filed against said insured.
Refinance 19) AFFIDAVIT AS TO DEBTS & LIENS:
Borrower(s) A) I am over the age of 18 years. Initials:
B)My marital status _has _has not changed (CHECK THE
APPROPRIATE RESPONSE) since the date that I acquired the above
described property.
C)I have also been known by the following names in addition to the name
listed above:;J/4
D)I state under oath that all bills for labor performed and material
furnished for improvements (if any) made by, or for me have been paid,
and that at present I do not owe any person or firm for such
improvements; and there are no liens including federal or state tax liens or
judgment liens, of any kind; and no proceedings have been commenced in
any federal court or state court to which I am a party, except:
$ f-1--to __ _
$ ll/}4, to
$ •to _____ _
E)To my knowledge there are no loans or unpaid debts for any personal
property or fixtures which are located on the.subject property and that no
such items have been purchased on time-payment contract; and that there
are no security interests on such property secured by financing statements,
security agreements or otherwise, except:
$ I to _______ _
$ �7/lf to _____ _
$. _________ to ________ _
F)The amount due any lienholder was furnished by the lienholder and is
good only through an anticipated disbursement date. Should there be any
discrepancies First American Title Insurance Company is hereby authorized
to disburse any additional funds required by lienholder and adjust the net
amount due the Seller by a like amount. Seller is aware that the lienholder
has furnished a statement showing amounts due to payoff existing lien(s).
In the event lienholder makes a demand for a greater amount than shown
on payoff statement and closing statement, Seller agrees to reimburse First
American Title Insurance Company for any funds advanced in order to cure
any discrepancies or demand.
G)To my knowledge, Owner's possession of the property has been peaceable
and undisturbed and title to said property has never been disputed or
questioned, nor do I have any knowledge of adverse claims against any
portion of the property.
H)I have not signed any contracts of sale, deeds, deeds of trust, mortgages
or quitclaims affecting the property, except documents pertaining to the
guaranty file listed above.
I)I have no knowledge of any paving or mowing liens outstanding against
the property.
I understand that the Purchaser and/or Lender and Title Company in this
transaction are relying upon the representations contained herein in
purchasing the subject property, lending money thereon, and/or issuing title
insurance policies thereon, and would not do any of the above unless said
representations were made.
Page6
CLOSING AFFIDAVIT
SELLER/PURCHASER/BORROWER
City of Friendswood M.R.C Ventures, LP, a Texas Limited
Partnership, a Texas Limited Partnership
By: MRC GP, a Texas Limited Liability
Company, General Partner
By: Michael A. Wegner, Member
By: Janet L. Wegner, Member
SWORN TO AND SUBSCRIBED BEFORE ME on this 14 day of September, 2006, by Michael A. Wegner, Member
and Janet L. Wegner, Member of M.R.C Ventures, LP, a Texas Limited Partnership, a Texas Limited Partnership.
STATE OF TEXAS
COUNTY OF HARRIS
) §
)
Notary Public, State of Texas
This instrument was acknowledged before me on this 14 day of September, 2006, by Michael A. Wegner, Member
and Janet L. Wegner, Member of M.R.C Ventures, LP, a Texas Limited Partnership, a Texas Limited Partnership.
Notary Public, State of Texas
Sworn to and subscribed before me this 14 day of September, 2006, by David J. H. Smith, Mayor of the City of
Friendswood.
-.... ,,���t',,,, .,.!:A:!!'"' 1{t�X>-� .. ,;t;ilff\�, .... , 1111111,,,,
--MARY LANIER
Notary Public. State ofiexas
My Commission Expires
August 07, 201 O
STATE OF TEXAS
COUNTY OF HARRIS
)
) §
)
otary Publicv5tate of Texas
This instrument was acknowledged before me this 14 day of September, 2006, by David J. H. Smith, Mayor of
the City of Friendswood.
..,,,,��'�::,,,,, �,�,, ·•ff,_',, �l/ \r\ = t : -1\,{; ...• ���
I 111,!.t.n-\.,,
-
MARY LANIER (
Notary Public, State ofiexas \
My Commission Expires l
August 07, 201 o d}
k'ti1,;,,�
�
Page7