HomeMy WebLinkAboutC2014-456 - 4/29/2014 - NA COMMERCIAL CONTRACT—IMPROVED PROPERTY
1, PARTIES: Seller agrees to sell and convey Buyer the Property described in Paragraph 2. Buyer
agrees to buy the Property from Seller for the Sales Price stated in Paragraph 3. The parties to this
Contract are: \L ,,C►(
Seller: Grover C. Keeton and Kathleen Keeton Smith
Address:15100 Nightingale,Austin,TX 78734 11805 Meadowglen#2201,Houston,TX 7705ff
Phone:
Buyer: Corpus Christi Housing Finance Corporation
Address: 1200 Leopard Street; P. O. Box 9277,Corpus Christi,TX 78469
Phone: 361-826-3898
2. PROPERTY:
A. The property sold by this contract is called the "Property." The Property is that real property
situated in Nueces County, Texas, at 540 Chaparral Street, Corpus Christi, Texas (address)
that is legally described on the attached Exhibit A or as follows:
Lots Three (3) and Four (4), Block Eleven (11), Beach Portion of the City of Corpus
Christi, Texas, as shown by the map or plat thereof recorded in Volume A, Page 3, Map
Records, Nueces County, Texas, and being the same property as described in that Lease
Agreement between Grover C. Keeton, as Landlord, and Beach Center Corporation, as
Tenant, dated June 30, 1983, as amended.
B. The Property is sold together with:
(1) all buildings, improvements,and fixtures;
(2) all rights, privileges,and appurtenances pertaining to the Property, including Seller's right,
title and interest in any minerals, utilities, adjacent streets, alleys, strips, gores, and rights-
of-way;
(3) Seller's interest in all leases, rents, and security deposits for all or part of the Property; and
(4) Seller's interest in all licenses and permits related to the Property.
(Describe any exceptions, leases, reservations, or restriction.)
The terms and conditions of that Lease Agreement between Grover C. Keeton, as
Landlord,and Beach Center Corporation,as Tenant, dated June 30, 1983,as amended.
3. SALES PRICE: At or before Closing, Buyer will pay the following Sales Price for the Property:
A. Cash portion payable by Buyer at Closing(including earnest money) $ 225,000.00
B. Sum of all financing described in Paragraph 4 $ .00
C. Sales Price (Sum of A and B) $ 225,000.00
C2014-456
4/29/14 Dr Identification by Buyer 0L Seller �� Page 1 of 6
Grover C. Keeton
SCANNED
4. FINANCING: No financing is required in connection with this Contract.
5. EARNEST MONEY: Not later than three days after the Effective Date of this Contract, Buyer
shall deposit the sum of $ 5,000.00 as Earnest Money with Gracy Title Company at 1313
Ranch Road 620 S, Suite 101, Lakeway,TX 78734 (address), as Escrow Agent. The Earnest
Money shall be placed in an interest-bearing account by the Escrow Agent upon the written request
of Buyer, and any interest thereon shall be part of the Earnest Money. If Buyer fails to deposit the
Earnest Money as required by this Contract, Buyer shall be in default. I
6. TITLE POLICY:
A. Title Policy: Seller shall furnish to Buyer at ❑Seller's expense OBuyer's expense an Owner's
Policy of Title Insurance (the "Title Policy") issued by Stewart Title Company (the "Title
Company") in the amount of the Sales Price and dated at or after Closing, insuring Buyer's fee
simple title to the Property to be good and indefeasible subject only to those title exceptions
permitted herein, or as may be approved by Buyer in writing, and the standard printed
exceptions contained in the usual form of the Title Policy. The Title Company shall deliver to
Buyer within twenty (20) days after the Effective Date of this Contract a Commitment for Title
Insurance (the "Commitment") and legible copies of all recorded instruments affecting the
Property and recited as exceptions in the Commitment.
B. Survey: No new survey is required in connection with this Contract.
C. Buyer's Objections to the Commitment:
(1) Within 20 days after Buyer receives the Commitment and copies of the documents
evidencing the title exceptions, Buyer may object in writing to matters disclosed in the
items if the matters disclosed constitute a defect or encumbrance to title other than those
permitted by this Contract or liens that Seller will satisfy at Closing or Buyer will assume
at Closing.
(2) Seller may, but is not obligated to, cure Buyer's timely objections within 20 days after
Seller receives the objections. The Closing Date will be extended as necessary to cure the
objections. If Seller fails to cure the objections by the time required, Buyer may terminate
this Contract by providing written notice to Seller within 5 days after the time by which
Seller must cure the objections. If Buyer terminates, the Earnest Money will be refunded
to Buyer.
(3) Buyer's failure to timely object or terminate under this Paragraph 6C is a waiver of Buyer's
right to object, except that Buyer shall not be deemed to waive the requirements in
Schedule C of the Commitment.
7. PROPERTY CONDITION:
❑X (1) Buyer accepts the Property in its present "as-is"condition.
❑ (2) Buyer accepts the Property in its present condition provided that Seller, at Seller's
expense, shall complete the following repairs prior to Closing: N/A .
Initialed for Identification by Buyer OL Sellert Page 2 of 6
8. BROKERS:
The parties represent to each other that no real estate brokers or agents have been utilized in
connection with this Contract, and Seller shall not be responsible for the payment of any real estate
commissions at Closing.
9. CLOSING:
A. The closing of the sale shall be on or before sixty (60) days , or within seven (7) days after
any title objections have been cured, whichever date is later (the "Closing Date'') at the offices
of the Title Company; however, if financing or assumption approval has been obtained pursuant
to Paragraph 4, the Closing Date shall be extended up to 15 days only if necessary to comply
with lender's closing instructions (for example, survey and closing documents). If either party
fails to close this sale by the Closing Date, the non-defaulting party shall be entitled to exercise
the remedies contained in Paragraph 15.
B. At Closing Seller shall furnish,at Buyer's expense:
(1) a Special Warranty Deed conveying good and indefeasible title to the Property showing no
additional exceptions to those permitted in Paragraph 6; and
(2) an assignment of all leases to or on the Property duly executed by Seller, if any.
C. At Closing Buyer shall:
(1) pay the Sales Price in good funds acceptable to the Escrow Agent; and
(2) execute and deliver any notices, statements, certificates, or other documents required by
this Contract or law necessary to close the sale.
D. Unless the parties agree otherwise, the closing documents will be as found in the basic forms in
the current edition of the State Bar of Texas Real Estate Forms Manual without any additional
clauses.
10. POSSESSION: Seller will deliver possession of the Property to Buyer upon closing and funding of
this sale in its present condition "AS IS"and "WITH ALL FAULTS."
11. SPECIAL PROVISIONS: (Insert factual statements and business details applicable to this sale.)
Attached hereto are the following Exhibits and Addenda which are a part hereof:
The existing Lease Agreement referenced in Section 2 above shall be terminated by Buyer
at closing and funding since Buyer holds the leasehold interest under said Lease.
Buyer shall pay all current and any past due taxes assessed against the Property. Buyer shall
pay all closing costs, including the escrow fees required by Escrow Agent, and for preparation
of the deed by Buyer's attorney. Seller only shall be responsible for the legal fees of any
attorney retained by Seller for review of the documents.
Buyer agrees to exercise reasonable efforts to install a memorial brass marker naming the
building on the Property the"Annie Uehlinger Building." If the building is removed by Buyer
or during any period in which Buyer owns the Property, Buyer agrees to install a brass marker
on the land comprising the Property dedicating it to Annie Uehlinger.
Initialed for Identification by Buyer IOC Seller Page 3 of 6
12. SALES EXPENSES:
A. SELLER'S EXPENSES: None.
B. BUYER'S EXPENSES: Preparation of the deed and recording fees; tax certificates; all of any
escrow fee; and any other expenses stipulated to be paid by Buyer under other provisions of this
Contract.
13. PRORATIONS:
No prorations shall occur at Closing.
14. CASUALTY LOSS AND CONDEMNATION:
[This section is intentionally omitted.]
15. DEFAULT:
A. If Buyer fails to comply herewith, Buyer shall be in default, and Seller may (1) enforce specific
performance or (2) terminate this Contract and receive the Earnest Money as liquidated
damages, thereby releasing Buyer from this Contract.
B. If Seller is unable without fault, within the time herein required, to deliver the Commitment,
Buyer may either terminate this Contract and receive the Earnest Money as the sole remedy or
extend the time for performance up to fifteen (15) days and the Closing Date shall be extended
as necessary.
C. If Seller fails to comply herewith for any other reason, Seller shall be in default, and Buyer may
(1) enforce specific performance or (2) terminate this Contract and receive the Earnest Money,
thereby releasing Seller from this Contract.
D. Seller's failure to satisfy Buyer's objections under Paragraph 6 shall not constitute a default by
Seller.
16. ATTORNEY'S FEES: If Buyer, Seller, or Escrow Agent is a prevailing party in any legal
proceeding brought under or with relation to this Contract or transaction, such party shall be
additionally entitled to recover court costs, reasonable attorney's fees, and all other litigation
expenses from the non-prevailing parties.
17. ESCROW: The Earnest Money is deposited with Escrow Agent with the understanding that
Escrow Agent is not (a) a party to this Contract and docs not assume or have any liability for the
performance or non-performance of any party to this Contract, (b) liable for interest on the funds
held unless required in Paragraph 5 and (c) liable for any loss of escrow funds caused by the failure
of any banking institution in which such funds have been deposited unless such banking institution
is acting as Escrow Agent. If both parties make demand for the payment of the Earnest Money,
Escrow Agent has the right to require from all parties and brokers a written release of liability of
Escrow Agent which authorizes the disbursement of the Earnest Money. If only one party makes
Initialed for Identification by Buyer 0, Seller ` IL Page 4 of 6
demand for payment of the Earnest Money, Escrow Agent shall give notice to the other party of
such demand. Escrow Agent is authorized and directed to honor such demand unless the other party
objects to Escrow Agent in writing within thirty (30)days after Escrow Agent's notice to that party.
At Closing, the Earnest Money shall be applied first to any cash down payment, then to Buyer's
closing costs and any excess refunded to Buyer. Any refund or payment of the Earnest Money
under this Contract shall be reduced by the amount of any actual expenses incurred on behalf of the
party receiving the Earnest Money, and Escrow Agent shall pay the same to the creditors entitled
thereto.
18. MATERIAL FACTS:
To the best of Seller's knowledge and belief: (Check(1)or(2) only.)
O (1) Seller is not aware of any material defects to the Property except as stated in the attached
Property Condition Statement.
OO (2) Seller is not aware of any of the following, except as described otherwise in this Contract:
(a) any subsurface structures,pits,waste,springs,or improvements;
(b) any pending or threatened litigation, condemnation, or assessment affecting the
Property;
(c) any environmental hazards or conditions that affect the Property;
(d) whether the Property is or has ever been used for the storage or disposal of hazardous
materials or toxic waste, a dump site or landfill, or any underground tanks or
containers.
(e) whether radon, asbestos insulation or fireproofing, urea-formaldehyde foam insulation,
lead-based paint, toxic mold (to the extent that it adversely affects the health of
ordinary occupants), or other pollutants or contaminants of any nature now exist or
ever existed on the Property;
(f) whether wetlands, as defined by federal or state law or regulation, are on the Property;
and
(g) whether threatened or endangered species or their habitat are on the Property.
19. NOTICES: All notices between the parties under this Contract must be in writing and are effective
when hand-delivered, mailed by certified mail return receipt requested, or sent by facsimile
transmission to the parties' addresses or facsimile numbers stated in Paragraph 1. The parties will
send copies of any notices to the broker representing the party to whom the notices are sent.
20. FEDERAL TAX REQUIREMENT: If Seller is a "foreign person", as defined by applicable law,
or if Seller fails to deliver an affidavit that he is not a "foreign person", then Buyer or Escrow
Agent, on instruction from Buyer, shall withhold from the sales proceeds an amount sufficient to
comply with applicable tax law and deliver the same to the Internal Revenue Service, together with
appropriate tax forms.
21. DISPUTE RESOLUTION: The parties agree to negotiate in good faith in an effort to resolve any
dispute related to this Contract that may arise. If the dispute cannot be resolved by negotiation, the
dispute shall be submitted to mediation before the parties resort to arbitration or litigation and a
mutually acceptable mediator shall be chosen by the parties to the dispute who shall share the cost
of mediation services equally.
22. AGREEMENT OF PARTIES: This Contract shall be binding on the parties, their heirs,
executors, representatives, successors, and assigns. This Contract shall he construed tinder and in
Initialed for Identification by Buyer n( Seller Page 5 of 6
accordance with laws of the State of Texas. This Contract contains the entire agreement of the
parties and cannot be changed except by written agreement. If this Contract is executed in a number
of identical counterparts, each counterpart is deemed an original and all counterparts shall,
collectively,constitute one agreement.
23. TIME: Time is of the essence in this Contract and strict compliance with the times for performance
is required.
24. EFFECTIVE DATE: The Effective Date of this Contract for the purpose of performance of all
obligations is the date the Escrow Agent receipts this Contract after all parties execute this Contract.
24. ASSIGNMENT:
El A. Buyer may not assign this Contract.
❑ B. Buyer may assign this Contract. If the assignee assumes in writing all obligations and
liabilities of Buyer under this Contract,Buyer shall be relieved of all liability hereunder.
25. TEXAS LAW TO APPLY: This Contract shall be construed under and in accordance with the
laws of the State of Texas, and all obligations of the parties created hereunder are performable in the
county in which the Property is located.
26. CONSULT YOUR ATTORNEY: The Broker cannot give you legal advice. This is intended to
be a legally binding contract. READ IT CAREFULLY. NO REPRESENTATION OR
RECOMMENDATION IS MADE BY BROKER OR ITS AGENTS OR ITS EMPLOYEES AS TO
THE LEGAL SUFFICIENCY, LEGAL EFFECT, OR TAX CONSEQUENCES OF THIS
DOCUMENT OR TRANSACTION. If you do not understand the effect of any part of this
Contract,consult your attorney BEFORE signing.
Buyer: or sus !hr... i lousing Finance Corp. Seller:
By: A By: /JAL
Name: .,21.t,th Grover C. Keeton
Title: Pre4ic1t14LCHFC
By:7r44-1-6-e--e"--
1"
‘71°C144-14--j
Kathleen Keeton Smith
ESCROW RECEIPT
�
Escrow Agent acknowledges receipt of this Contract on 1 301 lj, (Effective Date).
Escrow Agent: Ca ? .,- C7rt& e,G rosAiii41c,•CZYYA
By: iqIUfL I ti(
V
F:\2705\38 Ward Bldg\14 Contract for Purchase 0324.11,docx Page 6 of 6
accordance with laws of the State of Texas. This Contract contains the entire agreement of the
parties and cannot be changed except by written agreement. If this Contract is executed in a number
of identical counterparts, each counterpart is deemed an original and all counterparts shall,
collectively,constitute one agreement.
23. TIME: Time is of the essence in this Contract and strict compliance with the times for performance
is required.
24. EFFECTIVE DATE: The Effective Date of this Contract for the purpose of performance of all
obligations is the date the Escrow Agent receipts this Contract after all parties execute this Contract.
24. ASSIGNMENT:
0 A. Buyer may not assign this Contract.
❑ B. Buyer may assign this Contract. If the assignee assumes in writing all obligations and
liabilities of Buyer under this Contract,Buyer shall be relieved of all liability hereunder.
25. TEXAS LAW TO APPLY: This Contract shall be construed under and in accordance with the
laws of the State of Texas,and all obligations of the parties created hereunder are performable in the
county in which the Property is located.
26. CONSULT YOUR ATTORNEY: The Broker cannot give you legal advice. This is intended to
be a legally binding contract. READ IT CAREFULLY. NO REPRESENTATION OR
RECOMMENDATION IS MADE BY BROKER OR ITS AGENTS OR ITS EMPLOYEES AS TO
THE LEGAL SUFFICIENCY, LEGAL EFFECT, OR TAX CONSEQUENCES OF THIS
DOCUMENT OR TRANSACTION. If you do not understand the effect of any part of this
Contract,consult your attorney BEFORE signing.
9
! 1
Buyer: o •us!hr, i ousing Finance Corp. Seller:
By: . By: /% ✓d SC ��
Name: Qu,,d l.. Grover C.Keeton
Title: Q,4 Ai t LC H(e
By: 4)1:1-11:Ld
Kathleen Keeton Smith
ESCROW RECEIPT
Escrow Agent acknowledges receipt of this Contract on //3e1/1/ (Effective Date).
•
Escrow Agent: ii t 2.0 J ...r-
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•
f L tf(._� AUTHUKUu
VT (1111101L.4244
90I TA 'V
Doc# 2014030208
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NOTICE OF CONELDENTLALITY RIGHTS: IF YOU ARE A NATURAL PERSON,YOU
MAY REMOVE OR STRIKE ANY OR ALL OF '1HE FOLLOWING INFORMATION
FROM ANY INSTRUMENT THAT TRANSFERS AN INTEREST IN REAL PROPERTY
BEFORE IT IS FILED FOR RECORD IN TH h. PUBLIC RECORDS: YOUR SOCIAL
SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER
SPECIAL WARRANTY DEED
DATE: July Zi,2014
GRANTORS: THE GROVER C KEETON, JR. TRUST and THE KATHLEEN
KEETON SMITH TRUST
15100 Nightingale, AustinTx 78734
GRANTEE: CORPUS CHRISTI HOUSING FINANCE CORPORATION
GR .Ni'EE'S MAILING ADDRESS:
1200 Leopard Street
Corpus Christi,Texas 78401
CONSIDERATION: Ten Dollars and other valuable consideration.
PROPERTY: The following described Land:
Lots Three (3) and Four (4), Block Eleven (11). of BEACH
PORTION, a subdivision in the City of Corpus Christi, Nueces
County, Texas, according to the map or plat of record in Volume A.
Pages 2 and 3,of the Map Records of Nueces County,Texas.
Together with and including all of the Grantor's right, title and interest in and to the rights and
appurtenances in any way belonging or appurtenant to said Land, including, without limitation: (i)
any improvements on said Land; (ii) strips and gores, if any, adjacent or contiguous to the Land;
(iii) any land lying in or under the bed of any street, alley,Toad, creek or stream running through,
abutting or adjacent to the Land; (iv) any riparian rights appurtenant to the Land relating to surface
or subsurface waters; and (v) easements; rights of ingress and egress and reversionary interests
benefitting or serving the Land (the Land and other appurtenant rights being referred to herein as
the"Property").
RESERVATIONS FROM AND EXCEPTIONS TO CONVEYANCE AND WARRANTY:
This conveyance is subject to the following matters to the extent that such are presently in force and
effect and affect the Property:
(1) All easements, rights-of-way and restrictive covenants, if any, of record with the County
Clerk of the County in which the Property is located;
(2) Taxes for the current year,the payment of which Grantee assumes;
(3) All mineral estate reservations and conveyances (including assignments or reservations of
royalty interests) by Grantor and by Grantor's predecessors in title as shown by the records
of the County Clerk of the County in which the Property is located.
GRANT OF PROPERTY:
Grantor, for the Consideration and subject to the Reservations From and Exceptions to Conveyance
and Warranty, GRANTS, SELLS, and CONVEYS to Grantee the Property, together with all and
singular the rights and appurtenances thereto in any way belong-ing, to have and to hold unto
Grantee, Grantee's heirs, executors, administrators, successors, and assigns forever. Grantor binds
Grantor and Grantor's heirs,executors,administrators, and successors to warrant and forever defend
all and singular the Property to Grantee and Grantee's heirs, executors, administrators, successors
and assigns against every person whomsoever lawfully claiming or to claim the same or any part
thereof, by, through or under Grantor, but not otherwise, except as to the Reservations From and
Exceptions to Conveyance and Warranty.
When the context requires, singular nouns and pronouns include the plural.
[SEE ATTACHED SIGNATURE PAGES]
FA2705cs Ward Bldg'\14 WDSB-0724-11-15.docx 2
SIGNATURE PAGE
FOR
SPECIAL WARRANTY DEED
GRANTORS: THE GROVER C. KEETON-, JR TRUST and THE KATHLEEN
KEETON SMITH !'RUST
GRANA b,E: CORPUS CHRISTI HOUSING FINANCE CORPORATION
GRANTOR:
THE GROVER C. KEETON,JR. IRUST
By: �� re.rh-
Grover C. Keeton,Jr.
Trustee
STA 1'1=,OF TEXAS §
§
COUT i Y OF TRAVIS § l �}�
This instrument was acknowledged before me on the 1 day of 1 uggAri
2014, by Grover C. Keeton, Jr., the Trustee of THE GROVER C. KEETON, JR 1 RAST, in the
capacity stated.
aFY CATHY BADE / 1 /
Public,Sta?e of Texas Notary Pub1Vtate of Texas
=moo,ri;'= AUGUST 22,2016
F:`2 05'38 Ward.Bldg\14 VvDSB-0724- 1-15.docx 3
SIGNATURE PAGE
FOR
SPECIAL WARRANTY DEED
GRANTORS: THE GROVER C. KEETON, JR TRUST and THE KATHLEEN
KEETON &METH TRUST
GRANTEE: CORPUS CHRISTI HOUSING FINANCE CORPORATION
GRANTOR
THE KATHLEEN KEETON
SMITH TRUST
By:.i( ?,e-r.-4/!--e_.,
Ka een Keeton Smith
Trustee
STATE OF TEXAS §
COUNTY OF /19-,../Zi..5 §
This instrument was aclmowledged before me on the 7 day of jl-rrf ,
2014, by KATHLEEN KEETON SMITH, the Trustee of THE KATHLEEN KEETON SMITH
TRUST, in the capacity stated_
31"419e,.. ROBERT E. SIEGRIST : Nc t�ry"Public,Stare of Te'
Notary Public,State of Texas
s / My Commission Expires •
• rE'C1 tE
12-23-2014
AFTER RECORDING RETURN TO:
Corpus Christi Housing Finance Corporation
1200 Leopard Street
Corpus Christi, Tx 78401
F:\2705\38 Ward BIdg\14 WDSB-0724-11-15.docz 4
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e-Filed & e-Recorded in the
Official Public Records of
NUECES COUNTY
DIANA T. BARRERA
COUNTY CLERK
Fees $27.00
Any provision herein which restricts the Sale, Rental
or use of the described REAL PROPERTY because of
Race, Color,Religion, Sex, Handicap, Familial Status
or National Origin is invalid and unenforceable
under FEDERAL LAW, 3/12/89
STATE OF TEXAS
COUNTY OF NUECES
I HEREBY CERTIFY THAT THIS INSTRUMENT WAS
FILED IN FILE NUMBER SEQUENCE ON THE DATE AND
AT THE TIME STAMPED HEREON BY ME AND WAS DULY
RECORDED IN THE OFFICIAL PUBLIC
RECORDS OF NUECES COUNTY TEXAS
6
NtY f". ‘ — V I�vvtvW
C COUNTY CLERK
}Pp NUECES COUNTY TEXAS
Doc# 2014030209
-- o t X147- --3501• U3 l..C..
TERNTNATION OF LEASE AGREEMENT
This Termination of Lease Agreement is made by the Corpus Christi Housing Finance
Corporation, as the current tenant, and the Corpus Christi Housing Finance Corporation, as the
owner of the landlord's interest,and provides as follows:
WHEREAS, on June 30, 1983,.a Lease Agreement was entered into by and between
Grover C.Keeton a/k/a Grover Cleveland Keeton, as landlord, and Beach Center Corporation, as
tenant, as evidenced by a Short Form Lease filed for record in File No. 326370, Volume 1875,
Page 59,Deed Records of Nueces County,Texas;and
WHEREAS, the rights of the tenant under said Lease were assigned by Beach Center
Corporation to the City of Corpus Christi by Special Warranty Deed and Assignment of Lease
dated July 30, 2008,recorded as Document No. 2008034800,Official Public Records of Nueces
County,Texas; and
WHEREAS, by a Special Warranty.Deed and Assignment of Lease dated February 28,
2012, the City of Corpus Christi assigned the rights of tenant under said Lease to the Corpus
Christi Housing Finance Corporation, said instrument filed for record as Document No.
2012011163,Official Public Records of Nueces County,Texas;and
WHEREAS, by a Special Warranty Deed dated July 29, 2014, Grover C. Keeton and
Kathleen Keeton Smith, as the heirs of Grover C. Keeton a/k/a Grover Cleveland Keeton,
conveyed the landlord's rights to the property, subject to the foregoing Lease, to the Corpus
Christi Housing Finance Corporation, said instrument recorded in the Official Public Records of
Nueces County,Texas;
NOW, THEREFORE,the Corpus Christi Housing Finance Corporation, as the holder of
the tenant's interest under said Lease Agreement and the landlord's interest under said Lease
Agreement,hereby TERMINATES the Lease Agreement effective as of July 29,2014.
The original of this Termination of Lease Agreement shall be filed of record terminating
all rights under the Lease Agreement and that Short Form Lease referenced above.
Executed this 29th day of July,2014.
LANDLO : TENANT:
CORFU' I' TI IUSING CORPUS r ri .r ',Ay/SING
FIN_•I C �I. '•' ► ' •TION FIN• ,��'j
TION
•
By. 1 By:
David Loeb,'President David Loeb,President
•
STATE OF TEXAS § •
§
COUNTY OF NUECES §
This instrument was acknowledged before me on the day of fired., ,
2014,by David Loeb,President of Corpus Christi Housing Finance Corporation, a Texas housing
finance corporation,on behalf of said corporation.
1/;451h----_—
r,,''''"��% JOHN D. BELL • Notary blic,State of Texas
Notary Public AS
- `I STATE OF TEX
°tu. '" My Comm.Exp.06-17-2017
v v v . * 1 v v v v v
AFTER RECORDING RETURN TO:
Corpus Christi Housing Finance Corporation
1200 Leopard Street
Corpus Christi, Tx 78401
F:\2705'38 Ward 31de\14 Term Lease Agnt-072=11-15_docx 2
Doc# 2014030209
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e-Filed & e-Recorded in the
Official Public Records of
NUECES COUNTY
DIANA T. BARRERA
COUNTY CLERK
Fees $19.00
Any provision herein which restricts the Sale, Rental
or use of the described REAL PROPERTY because of
Race, Color,Religion, Sex, Handicap. Familial Status
or National Origin is invalid and unenforceable
under FEDERAL LAW, 3/12/89
STATE OF TEXAS
COUNTY OF NUECES
I HEREBY CERTIFY THAT THIS INSTRUMENT WAS
FILED IN FILE NUMBER SEQUENCE ON THE DATE AND
AT THE TIME STAMPED HEREON BY ME AND WAS DULY
RECORDED IN THE OFFICIAL PUBLIC
RECORDS OF NUECES COUNTY TEXAS
,t6'4": :**
y,� :C[E,p� c : _ I!o IGVW
C '"f(�/"COUW}t W CLERK
S�o� NUFCES COUNTY TEXAS
' 9/ Ranch Road 620 South, Suite
�, ,Phone: (512) 263-5651 Ext. 1388
a Stewart company Fax: (512)263-5800
Corpus Christi Housing Finance Corporation September 29, 2014
1200 Leopard Street
Corpus Christi, TX 78401
RE: File No.: 01247-23507
Property: 540 Chaparral Street, Corpus Christi, TX 78401
To Whom It May Concern:
Enclosed herewith, please find the original Owner's Policy and original recorded document(s) in
connection with the above referenced transaction. This policy contains important information about the
real estate transaction you have just completed.
Please remember that our company has a permanent file for this property and can assist you with your
title insurance needs in the future should you wish to sell or obtain a loan on your property.
It has been a pleasure to be of service to you for this transaction. If you should require anything further,
please contact the undersigned
Sincerely,
Cathy Bade
enclosures
9z :S Wd 9 1 13Oht@Z
9NISVH0Jf4120 AM 9:07
Form T-1: Owner's Policy of Title Insurance(Rev.113/14)
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.Visit our World Wide Web site at:http://www.stewart.com.
OWNER'S POLICY OF TITLE INSURANCE
ISSUED BY
STEWART TITLE GUARANTY COMPANY
Any notice of claim and any other notice or statement in writing required to be given the Company under this Policy
must be given to the Company at the address shown in Section 18 of the Conditions.
COVERED RISKS
SUBJECT TO THE EXCLUSIONS FROM COVERAGE,THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE
B AND THE CONDITIONS, STEWART TITLE GUARANTY, a Texas corporation (the"Company") insures, as of Date of Policy
and,to the extent stated in Covered Risks 9 and 10, after Date of Policy, against loss or damage, not exceeding the Amount of
Insurance, sustained or incurred by the Insured by reason of:
1. Title being vested other than as stated in Schedule A.
2. Any defect in or lien or encumbrance on the Title. This Covered Risk includes but is not limited to insurance against loss
from:
(a) A defect in the Title caused by:
(i) forgery,fraud, undue influence,duress, incompetency, incapacity, or impersonation;
(ii) failure of any person or Entity to have authorized a transfer or conveyance;
(iii) a document affecting Title not properly created, executed,witnessed, sealed, acknowledged, notarized or delivered;
(iv) failure to perform those acts necessary to create a document by electronic means authorized by law;
(v) a document executed under a falsified,expired or otherwise invalid power of attorney;
(vi) a document not properly filed, recorded or indexed in the Public Records including failure to perform those acts by
electronic means authorized by law; or
(vii) a defective judicial or administrative proceeding.
(b) The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable, but
unpaid.
(c) Any encroachment,encumbrance,violation,variation, or adverse circumstance affecting the Title that would be disclosed
by an accurate and complete land survey of the Land. The term "encroachment" includes encroachments of existing
improvements located on the Land onto adjoining land, and encroachments onto the Land of existing improvements
located on adjoining land.
(d) Any statutory or constitutional mechanic's, contractor's, or materialman's lien for labor or materials having its inception
on or before Date of Policy.
3. Lack of good and indefeasible Title.
4. No right of access to and from the Land.
Covered Risks continued on next page.
IN WITNESS WHEREOF, Stewart Title 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.
Countersigned by:
SteWarrt
/ title guaranty company
. Matt Morris
President and CEO
S WA"T T L� E GUARAN • ts �
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Denise C.rraux
Secretary
File No.:01247-23507
Page 1 of
Policy 0-5966-000080430
Serial No.
COVERED RISKS CONTINUED FROM PAGE 1
5. The violation or enforcement of any law, ordinance, permit, or governmental regulation (including those relating to building
and zoning)restricting, regulating,prohibiting or relating to:
(a) the occupancy, use or enjoyment of the Land;
(b) the character,dimensions or location of any improvement erected on the Land;
(c) the subdivision of land;or
(d) environmental protection
if a notice,describing any part of the Land, is recorded in the Public Records setting forth the violation or intention to enforce,
but only to the extent of the violation or enforcement referred to in that notice.
6. An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the
enforcement action, describing any part of the Land, is recorded in the Public Records, but only to the extent of the
enforcement referred to in that notice.
7. The exercise of the rights of eminent domain if a notice of the exercise, describing any part of the Land, is recorded in the
Public Records.
8. Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without
Knowledge.
9. Title being vested other than as stated in Schedule A or being defective:
(a) as a result of the avoidance in whole or in part, or from a court order providing an alternative remedy, of a transfer of all
or any part of the title to or any interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A
because that prior transfer constituted a fraudulent or preferential transfer under federal bankruptcy, state insolvency or
similar creditors'rights laws; or
(b) because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal
bankruptcy,state insolvency or similar creditors'rights laws by reason of the failure of its recording in the Public Records:
(i) to be timely, or
(ii) to impart notice of its existence to a purchaser for value or a judgment or lien creditor.
10. Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created
or attached or has been filed or recorded in the Public Records subsequent to Date of Policy and prior to the recording of the
deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A.
The Company will also pay the costs, attorneys'fees and expenses incurred in defense of any matter insured against by this
Policy, but only to the extent provided in the Conditions.
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 that arise by reason of:
1. (a) Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting,
regulating, prohibiting or relating to:
(i) the occupancy, use, or enjoyment of the Land;
(ii) the character, dimensions or location of any improvement erected on the Land;
(iii) subdivision of land;or
(iv) environmental protection;
or the effect of any violation of these laws, ordinances or governmental regulations.This Exclusion 1(a) does not modify
or limit the coverage provided under Covered Risk 5.
(b) Any governmental police power.This Exclusion 1(b)does not modify or limit the coverage provided under Covered Risk
6.
2. Rights of eminent domain.This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8.
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 (however, this does not modify or limit the coverage provided under
Covered Risk 9 and 10); or
(e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title.
4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that the
transaction vesting the Title as shown in Schedule A, is:
(a) a fraudulent conveyance or fraudulent transfer; or
(b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy.
5. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching
between Date of Policy and the date of recording of the deed or other instrument of transfer in the Public Records that vests
Title as shown in Schedule A.
6. 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 Unmarketable Title.
File No.: 01247-23507 Serial No.: 0S966-000080430 Page 2
CONDITIONS
1. DEFINITION OF TERMS. secured by a purchase money Mortgage given by a purchaser
The following terms when used in this policy mean: from the Insured, or only so long as the Insured shall have
(a) "Amount of Insurance":the amount stated in Schedule A,as liability by reason of warranties in any transfer or conveyance of
may be increased or decreased by endorsement to this the Title. This policy shall not continue in force in favor of any
policy, increased by Section 8(b), or decreased by Sections purchaser from the Insured of either (i) an estate or interest in
10 and 11 of these Conditions. the Land, or (ii) an obligation secured by a purchase money
(b) "Date of Policy": The date designated as"Date of Policy"in Mortgage given to the Insured.
Schedule A.
(c) "Entity": A corporation, partnership, trust, limited liability 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT.
company or other similar legal entity. The Insured shall notify the Company promptly in writing (i) in
(d) "Insured": The Insured named in Schedule A. case of any litigation as set forth in Section 5(a) below, or (ii) in
(i) the term"Insured"also includes: case Knowledge shall come to an Insured hereunder of any
(A) successors to the Title of the Insured by operation of claim of title or interest that is adverse to the Title, as insured,
law as distinguished from purchase, including heirs, and that might cause loss or damage for which the Company
devisees,survivors,personal representatives or next may be liable by virtue of this policy. If the Company is
of kin; prejudiced by the failure of the Insured Claimant to provide
(B) successors to an Insured by dissolution, merger, prompt notice, the Company's liability to the Insured Claimant
consolidation,distribution or reorganization; under the policy shall be reduced to the extent of the prejudice.
(C) successors to an Insured by its conversion to When, after the Date of the Policy, the Insured notifies the
another kind of Entity; Company as required herein of a lien, encumbrance, adverse
(D) a grantee of an Insured under a deed delivered claim or other defect in Title insured by this policy that is not
without payment of actual valuable consideration excluded or excepted from the coverage of this policy, the
conveying the Title; Company shall promptly investigate the charge to determine
(1) If the stock, shares, memberships, or other whether the lien,encumbrance, adverse claim or defect or other
equity interests of the grantee are wholly-owned matter is valid and not barred by law or statute. The Company
by the named Insured, shall notify the Insured in writing,within a reasonable time, of its
(2) If the grantee wholly owns the named Insured, determination as to the validity or invalidity of the Insured's claim
(3) If the grantee is wholly-owned by an affiliated or charge under the policy. If the Company concludes that the
Entity of the named Insured, provided the lien,encumbrance,adverse claim or defect is not covered by this
affiliated Entity and the named Insured are both policy, or was otherwise addressed in the closing of the
wholly-owned by the same person or Entity,or transaction in connection with which this policy was issued, the
(4) If the grantee is a trustee or beneficiary of a trust Company shall specifically advise the Insured of the reasons for
created by a written instrument established by its determination. If the Company concludes that the lien,
the Insured named in Schedule A for estate encumbrance, adverse claim or defect is valid, the Company
planning purposes. shall take one of the following actions: (i)institute the necessary
(ii) With regard to (A), (B), (C) and (D) reserving, however, proceedings to clear the lien, encumbrance, adverse claim or
all rights and defenses as to any successor that the defect from the Title as insured; (ii) indemnify the Insured as
Company would have had against any predecessor provided in this policy;(iii)upon payment of appropriate premium
Insured. and charges therefore, issue to the Insured Claimant or to a
(e) "Insured Claimant":an Insured claiming loss or damage. subsequent owner, mortgagee or holder of the estate or interest
(f) "Knowledge"or"Known":actual knowledge, not constructive in the Land insured by this policy, a policy of title insurance
knowledge or notice that may be imputed to an Insured by without exception for the lien, encumbrance, adverse claim or
reason of the Public Records or any other records that defect, said policy to be in an amount equal to the current value
impart constructive notice of matters affecting the Title. of the Land or, if a loan policy, the amount of the loan; (iv)
(g) "Land": the land described in Schedule A, and affixed indemnify another title insurance company in connection with its
improvements that by law constitute real property. The term issuance of a policy(ies) of title insurance without exception for
"Land"does not include any property beyond the lines of the the lien, encumbrance, adverse claim or defect; (v) secure a
area described in Schedule A, nor any right, title, interest, release or other document discharging the lien, encumbrance,
estate or easement in abutting streets, roads, avenues, adverse claim or defect; or (vi) undertake a combination of (i)
alleys,lanes,ways or waterways,but this does not modify or through(v)herein.
limit the extent that a right of access to and from the Land is
insured by this policy. 4. PROOF OF LOSS.
(h) "Mortgage": mortgage, deed of trust, trust deed, or other In the event the Company is unable to determine the amount of
security instrument, including one evidenced by electronic loss or damage, the Company may, at its option, require as a
means authorized by law. condition of payment that the Insured Claimant furnish a signed
(i) "Public Records":records established under state statutes at proof of loss. The proof of loss must describe the defect, lien,
Date of Policy for the purpose of imparting constructive encumbrance or other matter insured against by this policy that
notice of matters relating to real property to purchasers for constitutes the basis of loss or damage and shall state, to the
value and without Knowledge.With respect to Covered Risk extent possible,the basis of calculating the amount of the loss or
5(d), "Public Records" shall also include environmental damage.
protection liens filed in the records of the clerk of the United
States District Court for the district where the Land is 5. DEFENSE AND PROSECUTION OF ACTIONS.
located. (a) Upon written request by the Insured, and subject to the
(j) "Title":the estate or interest described in Schedule A. options contained in Sections 3 and 7 of these Conditions,
(k) "Unmarketable Title":Title affected by an alleged or apparent the Company, at its own cost and without unreasonable
matter that would permit a prospective purchaser or lessee delay,shall provide for the defense of an Insured in litigation
of the Title or lender on the Title to be released from the in which any third party asserts a claim covered by this
obligation to purchase, lease or lend if there is a contractual policy adverse to the Insured. This obligation is limited to
condition requiring the delivery of marketable title. only those stated causes of action alleging matters insured
against by this policy. The Company shall have the right to
2. CONTINUATION OF INSURANCE. select counsel of its choice (subject to the right of the
The coverage of this policy shall continue in force as of Date of Insured to object for reasonable cause) to represent the
Policy in favor of an Insured, but only so long as the Insured Insured as to those stated causes of action. It shall not be
retains an estate or interest in the Land, or holds an obligation liable for and will not pay the fees of any other counsel.The
File No.: 01247-23507 Serial No.: 0-5966-000080430 Page 3
CONDITIONS Continued
Company will not pay any fees, costs or expenses incurred (a) To Pay or Tender Payment of the Amount of Insurance.
by the Insured in the defense of those causes of action that To pay or tender payment of the Amount of Insurance under
allege matters not insured against by this policy. this policy together with any costs, attorneys' fees and
(b) The Company shall have the right, in addition to the options expenses incurred by the Insured Claimant that were
contained in Sections 3 and 7, at its own cost, to institute authorized by the Company up to the time of payment or
and prosecute any action or proceeding or to do any other tender of payment and that the Company is obligated to pay.
act that in its opinion may be necessary or desirable to Upon the exercise by the Company of this option,all liability
establish the Title,as insured,or to prevent or reduce loss or and obligations of the Company to the Insured under this
damage to the Insured. The Company may take any policy, other than to make the payment required in this
appropriate action under the terms of this policy,whether or subsection, shall terminate, including any liability or
not it shall be liable to the Insured. The exercise of these obligation to defend,prosecute,or continue any litigation.
rights shall not be an admission of liability or waiver of any (b) To Pay or Otherwise Settle With Parties Other than the
provision of this policy. If the Company exercises its rights Insured or With the Insured Claimant.
under this subsection,it must do so diligently. (i) to pay or otherwise settle with other parties for or in the
(c) Whenever the Company brings an action or asserts a name of an Insured Claimant any claim insured against
defense as required or permitted by this policy,the Company under this policy. In addition, the Company will pay any
may pursue the litigation to a final determination by a court costs, attorneys' fees and expenses incurred by the
of competent jurisdiction and it expressly reserves the right, Insured Claimant that were authorized by the Company
in its sole discretion,to appeal from any adverse judgment or up to the time of payment and that the Company is
order. obligated to pay;or
(ii) to pay or otherwise settle with the Insured Claimant the
6. DUTY OF INSURED CLAIMANT TO COOPERATE. loss or damage provided for under this policy, together
(a) In all cases where this policy permits or requires the with any costs,attorneys'fees and expenses incurred by
Company to prosecute or provide for the defense of any the Insured Claimant that were authorized by the
action or proceeding and any appeals, the Insured shall Company up to the time of payment and that the
secure to the Company the right to so prosecute or provide Company is obligated to pay. Upon the exercise by the
defense in the action or proceeding, including the right to Company of either of the options provided for in
use, at its option, the name of the Insured for this purpose. subsections (b)(i) or (ii), the Company's obligations to
Whenever requested by the Company, the Insured, at the the Insured under this policy for the claimed loss or
Company's expense, shall give the Company all reasonable damage, other than the payments required to be made,
aid(i)in securing evidence,obtaining witnesses,prosecuting shall terminate, including any liability or obligation to
or defending the action or proceeding, or effecting defend,prosecute or continue any litigation.
settlement, and(ii)in any other lawful act that in the opinion
of the Company may be necessary or desirable to establish 8. DETERMINATION AND EXTENT OF LIABILITY.
the Title or any other matter as insured. If the Company is This policy is a contract of indemnity against actual monetary
prejudiced by the failure of the Insured to furnish the loss or damage sustained or incurred by the Insured Claimant
required cooperation, the Company's obligations to the who has suffered loss or damage by reason of matters insured
Insured under the policy shall terminate, including any against by this policy.
liability or obligation to defend, prosecute, or continue any (a) The extent of liability of the Company for loss or damage
litigation,with regard to the matter or matters requiring such under this policy shall not exceed the lesser of:
cooperation. (i) the Amount of Insurance;or
(b) The Company may reasonably require the Insured Claimant (H) the difference between the value of the Title as insured
to submit to examination under oath by any authorized and the value of the Title subject to the risk insured
representative of the Company and to produce for against by this policy.
examination, inspection and copying, at such reasonable (b) If the Company pursues its rights under Section 3 or 5 and is
times and places as may be designated by the authorized unsuccessful in establishing the Title,as insured,
representative of the Company, all records, in whatever (i) the Amount of Insurance shall be increased by 10%,and
medium maintained, including books, ledgers, checks, (ii) the Insured Claimant shall have the right to have the loss
memoranda, correspondence, reports, e-mails,disks,tapes, or damage determined either as of the date the claim
and videos whether bearing a date before or after Date of was made by the Insured Claimant or as of the date it is
Policy, that reasonably pertain to the loss or damage. settled and paid.
Further, if requested by any authorized representative of the (c) In addition to the extent of liability under (a) and (b), the
Company,the Insured Claimant shall grant its permission,in Company will also pay those costs, attorneys' fees and
writing,for any authorized representative of the Company to expenses incurred in accordance with Sections 5 and 7 of
examine, inspect and copy all of these records in the these Conditions.
custody or control of a third party that reasonably pertain to 9. LIMITATION OF LIABILITY
the loss or damage. All information designated as (a) If the Company establishes the Title,or removes the alleged
confidential by the Insured Claimant provided to the defect, lien or encumbrance, or cures the lack of a right of
Company pursuant to this Section shall not be disclosed to access to or from the Land,all as insured,or takes action in
others unless,in the reasonable judgment of the Company,it accordance with Section 3 or 7, in a reasonably diligent
is necessary in the administration of the claim. Failure of the manner by any method, including litigation and the
Insured Claimant to submit for examination under oath, completion of any appeals, it shall have fully performed its
produce any reasonably requested information or grant obligations with respect to that matter and shall not be liable
permission to secure reasonably necessary information from for any loss or damage caused to the Insured.
third parties as required in this subsection,unless prohibited (b) In the event of any litigation, including litigation by the
by law or governmental regulation, shall terminate any Company or with the Company's consent, the Company
liability of the Company under this policy as to that claim. shall have no liability for loss or damage until there has been
7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; a final determination by a court of competent jurisdiction,and
TERMINATION OF LIABILITY. disposition of all appeals,adverse to the Title,as insured.
In case of a claim under this policy,the Company shall have the (c) The Company shall not be liable for loss or damage to the
following additional options: Insured for liability voluntarily assumed by the Insured in
settling any claim or suit without the prior written consent of
the Company.
File No.: 01247-23507 Serial No.: 0-5966-000080430 Page 4
CONDITIONS Continued
10. REDUCTION OF INSURANCE; REDUCTION OR 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE
TERMINATION OF LIABILITY. CONTRACT.
All payments under this policy,except payments made for costs, (a) This policy together with all endorsements,if any,attached to
attorneys' fees and expenses, shall reduce the Amount of it by the Company is the entire policy and contract between
Insurance by the amount of the payment. the Insured and the Company. In interpreting any provision
of this policy,this policy shall be construed as a whole.
11. LIABILITY NONCUMULATIVE. (b) Any claim of loss or damage that arises out of the status of
The Amount of Insurance shall be reduced by any amount the the Title or by any action asserting such claim, shall be
Company pays under any policy insuring a Mortgage to which restricted to this policy.
exception is taken in Schedule B or to which the Insured has (c) Any amendment of or endorsement to this policy must be in
agreed, assumed, or taken subject or which is executed by an writing and authenticated by an authorized person, or
Insured after Date of Policy and which is a charge or lien on the expressly incorporated by Schedule A of this policy.
Title, and the amount so paid shall be deemed a payment to the (d) Each endorsement to this policy issued at any time is made
Insured under this policy. a part of this policy and is subject to all of its terms and
provisions. Except as the endorsement expressly states, it
12. PAYMENT OF LOSS. does not (i) modify any of the terms and provisions of the
When liability and the extent of loss or damage have been policy,(ii)modify any prior endorsement,(iii)extend the Date
definitely fixed in accordance with these Conditions,the payment of Policy or (iv) increase the Amount of Insurance. Each
shall be made within 30 days. Commitment,endorsement or other form,or provision in the
Schedules to this policy that refers to a term defined in
13. RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT. Section 1 of the Conditions shall be deemed to refer to the
(a) Whenever the Company shall have settled and paid a claim term regardless of whether the term is capitalized in the
under this policy, it shall be subrogated and entitled to the Commitment,endorsement or other form, or Schedule.Each
rights of the Insured Claimant in the Title and all other rights Commitment,endorsement or other form,or provision in the
and remedies in respect to the claim that the Insured Schedules that refers to the Conditions and Stipulations shall
Claimant has against any person or property,to the extent of be deemed to refer to the Conditions of this policy.
the amount of any loss,costs,attorneys'fees and expenses
paid by the Company. If requested by the Company, the 16. SEVERABILITY.
Insured Claimant shall execute documents to evidence the In the event any provision of this policy, in whole or in part, is
transfer to the Company of these rights and remedies. The held invalid or unenforceable under applicable law, the policy
Insured Claimant shall permit the Company to sue, shall be deemed not to include that provision or such part held to
compromise or settle in the name of the Insured Claimant be invalid and all other provisions shall remain in full force and
and to use the name of the Insured Claimant in any effect.
transaction or litigation involving these rights and remedies.
If a payment on account of a claim does not fully cover the 17. CHOICE OF LAW;FORUM.
loss of the Insured Claimant, the Company shall defer the (a) Choice of Law:The Insured acknowledges the Company has
exercise of its right to recover until after the Insured Claimant underwritten the risks covered by this policy and determined
shall have recovered its loss. the premium charged therefor in reliance upon the law
(b) The Company's right of subrogation includes the rights of the affecting interests in real property and applicable to the
Insured to indemnities, guaranties, other policies of interpretation, rights, remedies or enforcement of policies of
insurance or bonds, notwithstanding any terms or conditions title insurance of the jurisdiction where the Land is located.
contained in those instruments that address subrogation Therefore,the court or an arbitrator shall apply the law of the
rights. jurisdiction where the Land is located to determine the
validity of claims against the Title that are adverse to the
14. ARBITRATION. Insured, and in interpreting and enforcing the terms of this
Either the Company or the Insured may demand that the claim or policy. In neither case shall the court or arbitrator apply its
controversy shall be submitted to arbitration pursuant to the Title conflicts of laws principles to determine the applicable law.
Insurance Arbitration Rules of the American Land Title (b) Choice of Forum:Any litigation or other proceeding brought
Association ("Rules"). Except as provided in the Rules, there by the Insured against the Company must be filed only in a
shall be no joinder or consolidation with claims or controversies state or federal court within the United States of America or
of other persons. Arbitrable matters may include, but are not its territories having appropriate jurisdiction.
limited to, any controversy or claim between the Company and
the Insured arising out of or relating to this policy, any service in 18. NOTICES,WHERE SENT.
connection with its issuance or the breach of a policy provision, Any notice of claim and any other notice or statement in writing
or to any other controversy or claim arising out of the transaction required to be given the Company under this Policy must be
giving rise to this policy.All arbitrable matters when the Amount given to the Company P.O. Box 2029, Houston, Texas
of Insurance is $2,000,000 or less shall be arbitrated at the 77252-2029.
option of either the Company or the Insured,unless the Insured
is an individual person (as distinguished from an Entity). All
arbitrable matters when the Amount of Insurance is in excess of
$2,000,000 shall be arbitrated only when agreed to by both the
Company and the Insured.Arbitration pursuant to this policy and
under the Rules shall be binding upon the parties. Judgment
upon the award rendered by the Arbitrator(s) may be entered in
any court of competent jurisdiction.
File No.: 01247-23507 Serial No.: 0-5966-000080430 Page 5
•
STG Privacy Notice
Stewart Title Companies
WHAT DO THE STEWART TITLE COMPANIES DO WITH YOUR PERSONAL INFORMATION?
Federal and applicable state law and regulations give consumers the right to limit some but not all sharing. Federal and applicable
state law regulations also require us to tell you how we collect, share, and protect your personal information. Please read this notice
carefully to understand how we use your personal information.This privacy notice is distributed on behalf of the Stewart Title Guaranty
Company and its title affiliates(the Stewart Title Companies),pursuant to Title V of the Gramm-Leach-Bliley Act(GLBA).
The types of personal information we collect and share depend on the product or service that you have sought through us. This
information can include social security numbers and driver's license number.
All financial companies, such as the Stewart Title Companies, need to share customers' personal information to run their everyday
business—to process transactions and maintain customer accounts. In the section below, we list the reasons that we can share
customers'personal information;the reasons that we choose to share;and whether you can limit this sharing.
Reasons we can share your personal information. Do we share Can you limit this sharing?
For our everyday business purposes—to process your
transactions and maintain your account.This may include running the Yes No
business and managing customer accounts,such as processing
transactions,mailing,and auditing services,and responding to court
orders and legal investigations.
For our marketing purposes—to offer our products and services to Yes No
you.
For joint marketing with other financial companies No We don't share
For our affiliates'everyday business purposes—information
about your transactions and experiences.Affiliates are companies
related by common ownership or control.They can be financial and Yes No
non-financial companies.Our affiliates may include companies with a
Stewart name;financial companies,such as Stewart Title Company
For our affiliates'everyday business purposes—information No We don't share
about your creditworthiness.
For our affiliates to market to you—For your convenience, Yes Yes,send your first and last name,the email
Stewart has developed a means for you to opt out from its affiliates address used in your transaction, your
marketing even though such mechanism is not legally required. Stewart file number and the Stewart office
location that is handling your transaction by
email to optout@stewart.com or fax to
1-800-335-9591.
For non-affiliates to market to you.Non-affiliates are companies No We don't share
not related by common ownership or control.They can be financial
and non-financial companies.
We may disclose your personal information to our affiliates or to non-affiliates as permitted by law. If you request a transaction with a
non-affiliate,such as a third party insurance company,we will disclose your personal information to that non-affiliate. [We do not control
their subsequent use of information,and suggest you refer to their privacy notices.]
SHARING PRACTICES
How often do the Stewart Title Companies notify me We must notify you about our sharing practices when you request a
about their practices? transaction.
How do the Stewart Title Companies protect my To protect your personal information from unauthorized access and use, we
personal information? use security measures that comply with federal law. These measures
include computer,file,and building safeguards.
How do the Stewart Title Companies collect my We collect your personal information,for example,when you
personal information? • request insurance-related services
■ provide such information to us
We also collect your personal information from others, such as the real
estate agent or lender involved in your transaction,credit reporting agencies,
affiliates or other companies.
What sharing can I limit? Although federal and state law give you the right to limit sharing (e.g., opt out)
in certain instances, we do not share your personal information in those
instances.
Contact us: If you have any questions about this privacy notice, please contact us at:Stewart Title Guaranty Company,
1980 Post Oak Blvd.,Privacy Officer, Houston,Texas 77056
File No.:01247-23507 Page 1
Revised 11-19-2013
Form T-1 Owner's Policy of Title Insurance Sch A(Rev.1/3/14)
SCHEDULE A
Name and Address of Title Insurance Company: Stewart Title Guaranty Company
P.O. Box 2029, Houston, TX 77252
File No.: 01247-23507 Policy No.: 0-5966-000080430
Address for Reference only: 540 Chaparral Street, Corpus Christi, TX 78401
Amount of Insurance: $225,000.00 Premium: $1,803.20
Date of Policy: September 02, 2014 at 04:41 PM
1. Name of Insured:
Corpus Christi Housing Finance Corporation
2. The estate or interest in the Land that is insured by this policy is:
Fee Simple
3. Title is insured as vested in:
Corpus Christi Housing Finance Corporation
4. The Land referred to in this policy is described as follows:
Lots Three (3) and Four(4), Block Eleven (11), of BEACH PORTION, a subdivision in the City of Corpus Christi,
Nueces County, Texas, according to the map or plat of record in Volume A, Pages 2 and 3, of the Map Records of
Nueces County, Texas.
File No.: 01247-23507 STEWART TITLE
14 T1 OP SCh A STG GUARANTY COMPANY
Page 1 of 1
Form T1 Owner's Policy of Title Insurance(Rev.1/3/14)
SCHEDULE B
File No.: 01247-23507 Policy No.: 0-5966-000080430
EXCEPTIONS FROM COVERAGE
Thi policy does not insure against loss or damage (and the Company will not pay costs, attorneys'fees or expenses)that
ari by reason of the terms and conditions of the leases and easements, if any, shown in Schedule A, and the following
ma ers:
or dcictc this exception):
2. Shortages in area.
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 right 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 2014, 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 (The Company
must insert matters or delete this exception.):
A. Rights of parties in possession.
B. All leases, grants, exceptions or reservations of coal, lignite, oil, gas and other minerals, together with all rights,
privileges, and immunities relating thereto, appearing in the Public Records whether listed in Schedule B or not.
There may be leases, grants, exceptions or reservations of mineral interest that are not listed.
C. Lease Agreement dated June 30, 1983, by and between Grover C. Keeton a/k/a Grover Cleveland Keeton,
Landlord, and Beach Center Corporation, as Tenant, as evidenced by that certain Short Form Lease filed for
record on July 1, 1983, in File No. 326370, Volume 1875, Page 59, Deed Records of Nueces County, Texas.
Assigned by Special Warranty Deed and Assignment of Lease dated July 30, 2008, from Beach Center
Corporation to the City of Corpus Christi, filed for record on August 1, 2008, Document No. 2008034800, Official
Public Records of Nueces County, Texas.
Assigned by Special Warranty Deed and Assignment of Lease dated February 28, 2012, from the City of Corpus
Christi to Corpus Christi Housing Finance Corporation,filed for record on March 27, 2012, Document No.
2012011163, Official Public Records of Nueces County, Texas.
Being further affected by that certain Termination of Lease Agreement filed for record on August 5, 2014
Document No. 2014030209, recorded in the Official Public Records of Nueces County, Texas.
T-1 Owner's Policy Sch B (Rev. 1/3/14)GTB STEWART TITLE
Page 1 of 2
GUARANTY COMPANY
Form T1 Owner's Policy of Title Insurance(Rev.1/3/14)
SCHEDULE B
File No.: 01247-23507 Policy No.: 0-5966-000080430
T-1 Owner's Policy Sch B (Rev. 1/3/14)GTB STEWART TITLE
Page 2 of 2 GUARANTY COMPANY
STEWART TITLE
GUARANTY COMPANY
IMPORTANT NOTICE AVISO IMPORTANTE
To obtain information or make a complaint: Para obtener informacion o para someter una queja:
1. You may contact your title insurance agent 1. Puede comunicarse con su agente de
at(512) 615-9698. seguro de titulo al (512) 615-9698.
2. You may call Stewart Title Guaranty 2. Usted puede Hamar al numero de telefono
Company's toll-free number for information gratis de Stewart Title Guaranty Company
or to make a complaint at: para informacion o para someter una queja
al:
1-800-729-1900 1-800-729-1900
3.
You may also write to Stewart Title Guaranty 3. Usted tambien puede escribir a Stewart Title
Company at: Guaranty Company:
P.O. Box 2029 P.O. Box 2029
Houston, Texas 77252-2029 Houston, Texas 77252-2029
4. You may contact the Texas Department of 4. Puede comunicarse con el Departamento do
Insurance to obtain information on Seguros de Texas para obtener informacion
companies, coverage's, rights or complaints acerca de companias, conberturas,
at: derechos o quejas al:
1-800-252-3439 1-800-252-3439
5. You may write the Texas Department of 5. Puede escribir al Departmento de Seguros
Insurance: de Texas:
P.O. Box 149104 P.O. Box 149104
Austin, TX 78714-9104 Austin, TX 78714-9104
Fax: 512-475-1771 Fax: 512-475-1771
Web: http://www.tdi.state.tx.us Web: htto://www.tdi.state.tx.us
e-mail: Consumerprotection@tdi.state.tx.us e-mail: Consumerprotection@tdi.state.tx.us
PREMIUM OR CLAIM DISPUTES: DISPUTAS SOBRE PRIMAS OR RECLAMOS:
Should you have a dispute concerning your Si tiene una disputa concerniente a su prima o a
premium or about a claim you should contact the un reclamo, debe comunicarse con el agente de
title insurance agent first. If the dispute is not seguro de titulo primero. Si no se resuelve la
resolved, you may contact the Texas Department disputa, puede entonces comunicarse con el
of Insurance. departamento (TDI).
ATTACH THIS NOTICE TO YOUR POLICY: UNA ESTE AVISO A SU POLIZA:
This notice is for information only and does not Este aviso es solo para porposito de informaciOn
become a part or condition of the attached y no se convierte en parte o condicion del
document. documento adjunto.
Form T-19.1 Restrictions, Encroachments,Minerals Endorsement Owner's Policy(Rev.1/3/14)
RESTRICTIONS, ENCROACHMENTS, MINERALS ENDORSEMENT
OWNER'S POLICY (FORM T-19.1)
ENDORSEMENT ATTACHED TO AND MADE A PART OF POLICY OF TITLE INSURANCE
SERIAL NUMBER 0-5966-000080430
ISSUED BY
STEWART TITLE GUARANTY COMPANY
HEREIN CALLED THE COMPANY
1. The insurance provided by this endorsement is subject to the exclusions in Section 5 of this endorsement; and the Exclusions from
Coverage,the Exceptions from Coverage contained in Schedule B, and the Conditions in the policy.
2. For the purposes of this endorsement only:
a. "Covenant"means a covenant, condition, limitation or restriction in a document or instrument in effect at Date of Policy.
b. "Improvement"means a building, structure, road,walkway,driveway, or curb, affixed to either the Land or adjoining land and
that by law constitutes real property, but excluding any crops, landscaping, lawn, shrubbery, or trees.
c. "Private Right" means (i) an option to purchase; (ii) a right of first refusal; (iii)a right of prior approval of a future purchaser or
occupant; or(iv)a private charge or assessment.
3. The Company insures against loss or damage sustained by the Insured by reason of:
a. A violation on the Land at Date of Policy of an enforceable Covenant, unless an exception in Schedule B of the policy identifies
the violation;
b. Enforced removal of an Improvement located on the Land at Date of Policy as a result of a violation, at Date of Policy, of a
building setback line shown on a plat of subdivision recorded or filed in the Public Records, unless an exception in Schedule B
of the policy identifies the violation;
c. A notice of a violation, recorded in the Public Records at Date of Policy, of an enforceable Covenant relating to environmental
protection describing any part of the Land and referring to that Covenant, but only to the extent of the violation of the Covenant
referred to in that notice, unless an exception in Schedule B of the policy identifies the notice of the violation; or
d. Enforcement of a Private Right in a Covenant affecting the Title at Date of Policy based on a transfer of Title on or before Date
of Policy that causes a loss of the Insured's Title.
4. The Company insures against loss or damage sustained by reason of:
a. An encroachment of:
i. an Improvement located on the Land, at Date of Policy, onto adjoining land or onto that portion of the Land subject to an
easement; or
ii. an Improvement located on adjoining land onto the Land at Date of Policy
unless an exception in Schedule B of the policy identifies the encroachment otherwise insured against in Sections 4.a.i or
4.a.ii; or
b. A final court order or judgment requiring the removal from any land adjoining the Land of an encroachment identified in
Schedule B; or
c. Damage to an Improvement located on the Land, at Date of Policy that is located on or encroaches onto that portion of the
Land subject to an easement excepted in Schedule B, which damage results from the exercise of the right to maintain the
easement for the purpose for which it was granted or reserved; or
d. Damage to an Improvement located on the Land on or after Date of Policy, resulting from the future exercise of a right to use
the surface of the Land for the extraction or development of minerals or any other subsurface substances excepted from the
description of the Land or excepted in Schedule B.
File No.01247-23507
Form T-19.1 Restrictions,Encroachments,Minerals Endorsement Owner's Policy(Rev.1/3/14)
Form T-19.1 Restrictions,Encroachments,Minerals Endorsement Owner's Policy(Rev.1/3/14)
5. This endorsement does not insure against loss or damage (and the Company will not pay costs, attorneys' fees, or expenses)
resulting from:
a. any Covenant contained in an instrument creating a lease;
b. any Covenant relating to obligations of any type to perform maintenance, repair, or remediation on the Land;
c. except as provided in Paragraph 3.d, any Covenant relating to environmental protection of any kind or nature, including
hazardous or toxic matters, conditions, or substances;
d. contamination, explosion, fire, fracturing, vibration, earthquake or subsidence; or
e. negligence by a person or an Entity exercising a right to extract or develop minerals or other subsurface substances.
This endorsement is issued as part of the policy. Except as it expressly states, it does not(i)modify any of the terms and provisions of
the policy, (ii)modify any prior endorsements, (iii)extend the Date of Policy, or (iv)increase the Amount of Insurance. To the extent a
provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement
controls. Otherwise,this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements.
Countersigned by:
stewart
title guaranty company
01 11. Matt Moms
E RT GUA', CO. President and CEO
10 aP*
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0".. 1908 Ze' / 1j
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r�'X ks
Denise C.rraux
Secretary
Endorsement
Serial No. E-5979-714099812
File No.01247-23507 Page 2 of 2
Form T-19.1 Restrictions,Encroachments,Minerals Endorsement Owner's Policy(Rev.1/3/14)