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HomeMy WebLinkAboutResolution - 2025-R0441 - MOU Retail Ready Foods, Section 8, Block E, Parcel 13, 1,654 Square Foot - 10/14/2025� PART�IERS 5010 122nd Street, Lubbock, TX 79424 Ph: (806) 993-3000/ FAX: (806) 993-3001 City of Lubbock 1401 Avenue K, Lubbock, TX 79401 RE: Parcel 13, Lubbock, TX 79404 Dear Sir/Madam: Regarding your recent purchase of the above referenced property, please find enclosed the following items: Original recorded Warranty Deed conveying title to the property Original Owner's Title Policy We appreciate the opportunity to be of service to you and hope that you will not hesitate to choose True Title Partners in the future. Sincerely, True Title Partners ESSENTTM ESSENT TITLE INSURANCE, INC. IMPORTANT NOTICE AVISO IMPORTANTE To obtain information or make a complaint: Para obtener informacion o para someter una queja: You may call Essent Title Insurance, Inc.'s toll-free Usted puede ]lamar al numero de telefono gratis de Essent telephone number for information or to make a complaint Title Insurance, lnc. Insurance Company's para at: informacion o para someter una queja al: 866-483-2763 866-483-2763 You may also write to Essent Title Insurance, Inc. at: Usted tambien puede escribir a Essent Title Insurance, Inc. at: Essent Title Insurance, Inc. Corporate Headquarters, Two Radnor Corporatc Center, Essent Title Insurance, Inc. 100 Matsonford Road Corporate Headquarters, Two Radnor Corporate Center, Radnor, PA 19087 100 Matsonford Road Radnor, PA 19087 You may contact the Texas Department of Insurance to Puede comunicarse con el Departamento de Seguros de obtain information on companies, coverages, rights or Texas para obtener informacion acerca de companias, complaints at: coberturas, derechos o quejas al: 800-252-3439 800-252-3439 You may write the Texas Department of Insurance: Puede escribir al Departamento de Seguros de Texas: P.O. Box 12030 P.O. Box 12030 Austin, TX 7$711-2030 Austin, TX 78711-2030 Fax:512-490-1007 Fax:512-490-1007 Web: www.tdi.texas.gov Web: www.tdi.texas.gov E-mail: ConsumerProtection@tdi.texas.gov E-mail: ConsumerProtection@tdi.texas.gov PREMIUM OR CLAIM DISPUTES: DISPUTAS SOBRE PRIMAS O RECLAMOS: Should you have a disputc concerning your premium or Si tiene una disputa concerniente a su prima o a un about a claim you should contact the agent or the company reclamo, debe comunicarse con el agente o la compania first. If the dispute is not resolved, you may contact the primero. Si no se resuelve la disputa, puede entonces Texas Department of Insurance. comunicarse con el departamento (TDI). ATTACH THIS NOTICE TO YOUR POLICY: This UNA ESTE AV1SO A SU POLIZA: Este aviso es solo notice is for information only and does not become a part or para proposito de informacion y no se convierte en parte o condition of die attached documeut. condicion dcl documento adjunto. Essent l'X-OP—v7 Owner's Policy ofTitle Insurance Form T 1 Effective 11-1-20?4 Issucd by: Essent Titic lnsurancc, Inc. Issued By: ESSENTTM ESSENT TITLE INSURANCE, INC. Corporate Headquartcrs, Two Radnor Corporate Centcr 100 Matsonford Road, Radnor, PA 19087 Phone: 866-483-2763 Fax: 573-442-3927 Website: www.essent.us/title Issuing Agent: True Title Partners dba True Title Company, LLC 5010 122nd Street Lubbock,Texas 79424 POLICY NUMBER: TX-26775777-OP-1-A OWNER'S POLICY OF TITLE INSURANCE (Form T 1) 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 ]8 of the Conditions. COVERED RISKS SUBJECT TO THE EXCLUSIONS FROM COVERAGE, TIiE EXCEPTIONS FROM COVER.AGE CONTAINED IN SCHEDUI,E B AND THE CONDITIONS, Essent Title Insurance, Inc., a Pennsylvania 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 incuned by the Insured by reason of: Title being vested other than as stated in Schedule A. ?. 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) failore 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 judicia] 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. Essent'1'X-OP—v7 Owner's Policy ofTitic Insurancc Form i=l Effective 11-1-?024 TX-26775777-OP-1-A Issued by: Essent Title Insurancc, Inc. (c) Any encroachinent, 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 ]ocated on adjoining land. [This coverage is deleted by Schedule B. Exceptions From Coveraae Paragraph 2, unless a survey of the Land acceptable to Company is tiinely provided and the applicable premium is paid to amend the exception to "sliortages in area."] (d) Any statutory or constitutional rnechanic's, contractor's, or materialman's lien for labor or materials having its inception on or before Date of Policy. Lack of good and indefeasible Title. 4. No right of access to and from the Land. 5. The violation or enforcement of any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, re,gulating, 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) subdivision of land; or (d) environmental protection if a notice, describing any partof 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 govemmental 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 noticc of thc cxercise, 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 transactiou vesting Title as shown in Schedule A because that prior transfer constituted a fraudulent or preferentia] 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 undcr 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 tlie Public Records subsequent to Date of Policy and prior to the recordin� of the deed or ather 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 incuned in defense of any matter insured against by this Policy, but only to the extent provided in the Conditions. Essent Title Insurance, inc. !"�� � �� , ��-.�/ u�u,�r x,�j�,., a.na Essent'1'X-OP-v7 On•ner's Policy of Title Insurance Form T-1 Effective 11-1-2024 TJ�-26775777-OP-1-A Issucd by: Essent Titic lnsurancc, Inc. 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, attomeys' fees or expenses which arise by reason o£ (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) environinental protection; or the effect of any violation of these laws, ordinances or govemmental regularions. 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. Tlus 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 ihe Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; (c) resulring in no loss or damage to the lnsured 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. 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 conveyaiice 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 beh�een Date of Policy and the date of recording of the deed or other instrument of transfer in the Public Records that ve;sts Title as shown in Schedule A. 6. The refusal of any person to purchase, lease or lend money on tl�e estace or interest covered hereby in the land described in Schedule A because of Unmarketable Title. Essent'I'X-OP—v7 Owner's Po[icy of Titic Jnsurancc tiorm T-1 Effective 1 I-1-2024 TX-26775777-OP-1-A Issucd by: Essent Titic Insurancc, Inc. EXCEPTIONS FROM COVERAGE This policy does not insure against loss or damage (and the Company will not pay costs, attomeys' fees or expenses) that arise by reason of the terms and conditions of the leases and easements, if any, shown in Schedule A, and the following matters: 1. The following restrictive covenanis of record itemized below (the Company must either insert specific recording data or delete this exception): 2. Any discrepancies, conflicts, or shortages in area or boundary lines, or any encroachments or protrusions, or any overlapping of improvements. 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 inean low tide to the line of vegetation, or the right of access to that area or easement along and across that area. Standby fees, taxes and assessments by any taxing authority for the year _, 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).: Essent'I'X-OP—v7 Owner's Policy ofTitle Insurvnce Form 7=1 Effective 1 I-1-2024 TX-26775777-OP-1-A lssued by: Essent Titic Insurancc, lnc. CONDITIONS DEFINITION OF TERMS. The following terms when used in this policy mean: (a) `Amount of Insurance": the amount stated in Schedule A, as may be increased or decreased by endorsement to this policy, increased by Section 8(b), or decreased by Sections ] 0 and 1 l of these Conditions. (b) "Date of Policy": The date designated as "Date of Policy" in Schedule A. (c) "Entity": A corporation, partnership, trust, limited liability company or other similar legal entity. (d) "Insured": the Insured named in Schedule A. (i) The term "Insured" also includes: (A) successors to the Title of the Insured by operation of law as distinguished from purchase, including heirs, devisees, survivors, personal representatives or next of kin; (B) successors to an Insured by dissolution, merger, consolidation, distribution or reorganization; (C) successors to an Insured by its conversion to another kind of Entity; (D) a grantee of an Insured under a deed delivered without payment of actual valuable consideration conveying the Title; (1) If the stock, shares, memberships, or other equity interests of the grantee are wholly-owned by the named lnsured, (2) If the grantee wholly owns the named Insured, (3) If the grantee is wholly-owned by an affiliated Entity of the nained Insured, provided the affiliated Entity and the named Insured are both wholly-owned by the same person or Entity, or (4) If the grantee is a trustee or beneficiary of a trust created by a written instrument established by the Insured named in Schedule A for estate planning purposes. (ii) With regard to (A), (B), (C) and (D) reserving, however, all rights and defenses as to any successor that the Company would have had against any predecessor Insured. (e) "Insured Claimant": an Insured claiming loss or damage. (fl "Knowledge" or "Known": actual knowledge, not construciive knowledge or notice that may be imputed to an Insured by reason of the Public Records or any other records that impart constructive notice of matters affecting the Title. (g) "Land": the land described in Schedule A, and affixed improvements that by law constitute real property. Tlie tern� "Land" does not include any property beyond the lines of the area describcd in Schedule A, nor any right, title, interest, estate or easement in abutting streets, roads, avenues, alleys, lanes, ways or waterways, but this does not modify or ]imit the extent that a right of access to and from the Land is insured by this policy. (li) "Mortgage": mortgage, deed of trust, trust deed, or other security instrument, including one evidenced by electronic means authorized by law. (i) "Public Records": records established under state statutes at Date of Policy for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without Knowledge. With respect to Covered Risk 5(d), "Public Records" shall also include environmental protection liens filed in the records of the clerk of the United States District Court for the district where the Land is located. (j) "Title": the estate or interest described in Schedule A. (k) "Unmarketable Title": Title affected by an alleged or apparent matter that would permit a prospective purchaser or lessee of the Title or lender on the Title to be released from the obligation to purchase, lease or lend if tl�ere is a contractual condition requiring the delivery of marketable title. ?. CONTINUATION OF INSURANCE. The coverage of this policy shall continue in force as of Date of Policy in favor of an insured, but only so long as the insured retains an estate or interest in the Land, or holds an obligation secured by a purchase money Mortgage given by a purchaser from the Insured, or only so long as the Insured shall have liability by reason of warranties in any transfer or conveyance of the Title. This policy shall not continue in force in favor of any purchaser from the Insured of either (i) an estate or interest in the Land, or (ii) an obligation secured by a purchase money Mortgage given to the Insured. Essent '1'X-OP—v7 Owner's Policy ofTitic Insurvncc Form T-1 Effective 11-1-2024 TX-26775777-OP-1-A Issucd by: Essent Title lnsurancc, Inc. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT. The Insured shall notify the Company promptly in writing (i) in case of any litigation as set forth in Section 5(a) below, or (ii) in case Knowledge shall come to an Insured hereunder of any claim of title or interest that is adverse to the Title, as insured, and that might cause loss or damage for which the Company may be liable by virtue of this policy. If the Company is prejudiced by the failure of the lnsured Claimant to provide prompt notice, the Company's liability to the lnsured Claimant under the policy shall be reduced to the extent of thc prejudice. When, after the Date of the Policy, the Insured notifies the Company as required herein of a lien, encumbrance, adverse claim or other defect in Title insured by this policy that is not excluded or excepted from the coverage of this policy, the Company shall promptly investigate the charge to determine whether the lien, encumbrance, adverse claim or defect or other matter is valid and not barred by law or statute. The Company shall notify the Insured in writing, within a reasonable time, of its determination as to the validity or invalidity of the Insured's claim or charge under the policy. If the Company concludes that the lien, encumbrance, adverse claim or defect is not covered by this policy, or was otherwise addressed in the closing of the transaction in connection with which this policy was issued, the Company shall specifically advise the Insured of the reasons for its determination. If the Company concludes that the lien, encumbrance, adverse claim or defect is valid, the Company shall take one of the following actions: (i) institute the necessary proceedings to clear the lien, encumbrance, adverse claim or defect from the Title as insured; (ii) indemnify the Insured as provided in this policy; (iii) upon payment of appropriate premium and charges therefore, issue to the Insured Claimant or to a subsequent owner, mortgagee or holder of the estate or interest in the Land insured by this policy, a policy of title insurance without exception for the lien, encumbrance, adverse claim or defect, said policy to be in an amount equa] to the current value of the Land or, if a loan policy, the amount of the loan; (iv) indemnify another titic insurance company in connection with its issuance of a policy(ies) of title insurance without exception for the lien, e:ncumbrance, adverse claim or defect; (v) secure a release or other document discharging the lien, encumbrance, adverse claim or defect; or (vi) undertake a combination of (i) through (v) herein. 4. PROOF OF LOSS. In the event the Company is unable to detennine the amount of loss or damage, the Company may, at its option, require as a condition of payment that the Insured Claimant fuinish a signed proof of loss. The proof of loss must describe the defect, lien, encurubrance or other matter insured against by this policy that constitutes the basis of loss or damage and shall state, to the extent possible, the basis of calculating the amount of the loss or damage. DEFENSE AND PROSECU'f70N OF ACTiONS. (a) Upon written request by the Insured, and subject to the options contained in Sections 3 and 7 of these Conditions, the Company, at its own cost and without unreasonable delay, shall provide for the defense of an ]nsured in litigation in wliich any third party asserts a claim covered by this policy adversc to the Insured. This obligation is limited to only those stated causes of action alleging matters insured against by this policy. The Company shall have the right to select counsel of its choice (subject to the right of the Insured to object for reasonable cause) to represent the Insured as to those stated cluses of action. It shall not be liable for and will not pay the fees of any other counsel. The Company will not pay any fees, costs or expenses incurred by the Insured in the defense of those causes of action that allege matters not insured against by this policy. (b) The Company shall have the right, in addition to che options contained in Sections 3 and 7, at its own cost, to institute and prosecute any action or proceeding or to do any other act that in its opinion may be necessary or desirable to establish the Title, as insured, or to prevent or reduce loss or damage to the Insured. The Company may take any appropriate action under the terms of this policy, whether or not it shall be liable to the lnsured. The exercise of these rights shall not be an admission of liability or waiver of any provision of this policy. If tlae Company exercises its rights under this subsection, it must do so diligently. (c) Whenever the Company brings an action or asserts a defense as required or permitted by this policy, the Company may pursue the litigation to a final determination by a court of competent jurisdiction and it expressly reserves the right, in its sole discretion, to appeal from any adverse judgment or order. 6. DUTY OF 1NSURED CLAIMANT TO COOPERATE. (a) In all cases where this policy pennits or requires the Company to prosecute or provide for the defense of any action or proceeding aild any appeals, the Insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, including the rigllt to use, at its option, the name of the Insured for this purpose. Whenever requested by the Company, the Insured, at the Company's expense, shall give the Essent'1'X-OP-v7 Owner's Policy ofTitic Insuruncc Form'I=l Effective 11-1-20?� TJ►-26775777-OP-1-A Ixsucd by: Essent Titic lnsurancc, Inc. Company all reasonable aid (i) in securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and (ii) in any other lawful act that in the opinion of the Company may be necessary or desirable to establish the Titie or any other matter as insured. If the Company is prejudiced by the failure of the Insured to furnish the required cooperation, ihe Company's obligations to the Insured under the policy shal] terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with regard to thc matter or matters requiring such cooperation. (b) The Company may reasonably require the Insured Claimant to submit to examination under oath by any authorized representative of the Company and to produce for examination, inspection and copying, at such reasonable times and places as may be designated by the authorized representative of the Company, all records, in whatever medium maintained, including books, ledgers, checks, memoranda, correspondence, reports, e-mails, disks, tapes, and videos whether bearing a date beforc or after Date of Policy, that reasonably pertain to the loss or damage. Further, if requested by any authorized represeutative of the Company, the Insured Claimant shall grant its permission, in writing, for any authorized representative of the Company to examine, inspect and copy all of these records in the custody or control of a third party that reasonably pertain to the loss or damage. All information designated as confidential by the Insured Claimant provided to the Company pursuant to this Section shall not be disclosed to others unless, in the reasonable judgment of the Company, it is necessary in the administration of the claim. Failure of the Insured Claimant to submit for examination under oath, produce any reasonably requested information or grant permission to secure reasonably necessary information from third parties as required in this subsection, unless prohibited by law or governmental regulation, shall terminate any liability of the Company under this policy as to that claim. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY. In case of a claim under this policy, the Company shall have the following additional options: (a) To Pay or Tender Payment of the Amount of Insurance. To pay or tender payment of the Amount of Insurance under this policy together with any costs, attorneys' fees and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment or tender of payment and that the Company is obligated to pay. Upon the exercise by the Company of this option, all liability and obligations of the Company to the Insured under this policy, other than to make the payment required in this subseccion, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation. (b) To Pay or Otherwise Settle With Parties Other than the Insured or With the Insured Claimant. (i) to pay or otherwise settle with other parties for or in the name of an Insured Claimant any claim insured against under this policy. In addition, the Company will pay any costs, attorneys' fees and expenses incurred by thc Insured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay; or (ii) to pay or otherwise settle with the Insured Claimant the loss or damage provided for under this policy, together with any costs, attomeys' fees and expenses incurred by the insured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay. Upon the exercise by thc Company of either of thc options provided for in subsections (b)(i) or (ii), the Company's obligations to the Insured undcr this policy for the claimed loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to defend, prosecute or continue any litigation. 8. DETERMINATION AND EXTENT OF LIABiLITY. This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the Insured Claimant who has suffered loss or damage by reason of matters insured against by tliis policy. (a) The extent of liability of the Company for loss or damage under this policy shall not exceed the lesser of (i) the Amouiit of Insurance; or (ii) the dif%rence between the value of the Title as insured and the value of the Title subject to the risk insured against by this policy. (b) If tl�e Company pursues its rights under Section 3 or 5 and is unsuccessful in establishing the Title, as insured, (i) the Amount of Tnsurance shall be increased by ] 0%, and (ii) the Insured Claimant shall have the right to have the loss or damage determined either as of the date tlie claim was made by tlie lnsured Claimant or as of the date it is settled and paid. Essent'I'X-OP—v7 Owncr's Policy of Titic lnsuruncc Form 7=1 Effective I I-1-2(1?4 TX-26775777-OP-1-A Issucd by: Essent Titic lnsurance, Inc. (c) In addition to the extent of liability under (a) and (b), the Company will also pay those costs, attorneys' fees and expenses incurred in accordance with Sections 5 and 7 of these Conditions. 9. LIMITATION (�F LIABILITY. (a) If the Company establishes the Title, or removes the alleged defect, lien or encumbrance, or cures the ]ack of a right of access to or from the Land, all as insured, or takes action in accordance witli Section 3 or 7, in a reasonably diligent manner by any method, including litigation and the completion of any appcals, it shall have fully perforn�ed its obligations witl� respect to that matter and shall not be liable for any loss or damage caused to the Insured. (b) In the event of any litigation, including litigation by the Company or with the Company's consent, the Company shall have no liability for loss or damage until there has been a final determination by a court of competent jurisdiction, and dispositiou of all appeals, adverse to the Title, as insured. (c) The Company shall not be liable for loss or damage to the lnsured for liability voluntarily assumcd by the Insured in settling any claim or suit without the prior written consent of the Company. 10. REDUCTiON OF INSURANCE; REDUCTION OR TERMINATION OF LIABILiTY. All payments under this policy, except payments made for costs, attomeys' fees and expenses, shall reduce the Amount of Insurance by the amount of the payment. 11. LIABILITY NONCUMULATIVE. The Amount of Insurance shall be reduced by any amount the Company pays under any policy insuring a Mortgage to which exception is taken in Schedule B or to which the Insured has agreed, assumed, or taken subject or whicli is executed by an insured after Date of Policy and which is a charge or lien on the Title, and the amount so paid shall be deemed a payment to the Insured under this policy. 12. PAYMENT OF LOSS. When liability and the extent of loss or damage have been definitely fixed in accordance with these Conditions, the payment shall be made within 30 days. 13. RiGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT. (a) Whenever the Company shall have settled and paid a claim under this policy, it shall be subrogated and entitled to the rights of the Insured Claimant in the Title and all other rights and remedies in respect to the claim that tlie Insured Claimant has against any person or property, to the extent of the amount of any loss, costs, attorneys' fees and expenses paid by the Company. IP requested by the Company, the Insured Claimant shall execute documents to evidence the transfer to the Company of these rights and remedies. The Insured Claimant shall permit the Company to sue, compromise or settle in the name of the Insured Claimant and to use the name of the Insured Claimant in any transaction or litigation involving these rights and remedies. If a payment on account of a claim does not fully cover the loss of the Insured Claimant, the Company shall defer the exercise of its right to recover until after the Insured Claimant shall have recovered its loss. (b) The Company's right of subrogation includes the rights of the Insured to indemnities, guaranties, other policies of insurance or bonds, notwithstanding any terms or conditions contained in those instruments that address subrogation rights. 14. ARf3ITRATION. Either the Company or the Insured may demand that the claim or controversy shall be submitted to arbitration pursuant to the Title Insurance Arbitration Rules of the American Land Title Association ("Rules"). Except as provided in the Rules, there shall be no joinder or consolidation with claims or controversies of other persons. Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the Insured arising out of or relating to this policy, any service in connection with its issuance or the breach of a policy provision, or to any other controversy or claim arising out of the transaction giving rise to ihis policy. All arbitrable matters when the Amount oF Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured, unless the Insured is an individual person (as distinguished from an Entity). All arbitrable �natters when the Amount of Insurance is in excess of 52,000,000 shall be arbitrated only when agreed to by botli the Company and the Insured. Arbitration Essent TX-OP-v7 Owner's Policy ofTitic Insuryncc Form 1=1 Effeceve 11-1-20?4 TX-26775777-OP-1-A lssued by: Essent Title Insurance, Inc. 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. 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTR.ACT. (a) This policy together with all endorsements, if any, attached to it by the Company is the entire policy and contract between thc Insured and the Company. In interpreting any provision of this policy, this policy shall bc constnied as a whole. (b) Any claim of loss or damage that arises out of the status of the Title or by any action assening such claim, shall be restricted to this policy. (c) Any amendment of or endorsement to this policy must be in writing and authenticated by an authorized person, or expressly incoiporated by Schedule A of this policy. (d) Each endorsement to this policy issued at any time is made a part of this policy and is subject to all of its terms and provisions. Except as the endorsement expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsement, (iii) extend the Date of Policy or (iv) increase the Amount of Insurance. Each Commitment, endorsement or other form, or provision in the Schedules to this policy that refers to a term defined in Section 1 of the Conditions shall be deemed to refer to the term regardless of whether the term is capitalized in the Commitment, endorsement or other form, or Schedule. Each Commitment, endorsement or other form, or provision in the Schedules that refers to the Conditions and Stipulations shali be deemed to refer to the Conditions of this policy. 16. SEVERABILITY. In the event any provision of this policy, in whole or in part, is held invalid or unenforceable under applicable law, the policy shal] be deemed not to include that provision or such part held to be invalid and all other provisions shall remain in full force and effect. 17. CHOICE OF LAW; FORUM. (a) Choice of Law: The Insured acknowledges the Company has underwritten the risks covered by this policy and determined the premium charged therefor in reliance upon the law affecting interests in real property and applicable to the interpretation, rights, remedies or enforcement of policies of title insurance of the jurisdiction where the Land is located. Therefore, the court or an arbitrator shall apply the law of the jurisdiction where the Land is located to determine the validity of claims against the Title that are adverse to the Insured, and in interpreting and enforcing the terms of this policy. In neither case shal] the court or arbitrator apply its confiicts of laws principles to determine the applicable law. (b) Choice of Forum: Any litigation or other proceeding brouglit by the Insured against the Company must be filed only in a state; or federal court within the United States of America or its territories having appropriate j urisdiction. 18. NOTICES, WHERE SENT. Any notice of claim and any other notice or statement in writing required to be givei� the Company under this Policy must be given to the Company at Coiporate Headquarters, Two Radnor Corporate Center, 100 Matsonford Road, Radnor, PA 19087, or by Email to titleclaiins@essent.us. Essent '1'X-OP-v7 Owner's Policy ofTitic Insurancc Form T-1 Effective 11-1-2024 Ta-26775777-OP-1-A Issued by: Essent Titic Lnsurancc, Inc. SCHEDULE A Name and Address of Title Insurance Company: Essent Title Insurance, Inc., Two Radnor Corporate Center, 100 Matsonford Road, Radnor, PA 19087 File No.: LBK-24-295 Policy No.: TX-26775777-OP-1-A Address for Reference only: Parcel 13, Lubbock, TX 79404 Amount of Insurance: $31,000.00 Premium: $368.00 Date of Policy: November 19, 2025 at 9:59 AM Name of Insured: City of Lubbock, Texas, a home rule municipal corporation The estate or interest in the Land that is insured by this policy is: fee simple 3. Title is insured as vested in: City of Lubbock, Texas, a home rule municipal corporation 4. The land referred to in this policy is described as follows: Tract 1: Field notes describing a 545 square feet right-of-way (Tract 1) out of Tract A of the Martin-Ameen Addition located in Section 8, Block E, of the GC & SF R.R. Co. Survey, Lubbock County, Texas. BEING a 545 square feet tract of land out of Tract A of the Martin-Ameen Addition to the City of Lubbock, Lubbock County, Texas, as shown in Volume 1276, Page 644 of the Official Public Records of Lubbock County, Texas, and described in a Special Warranty Deed with Vendor's Lien to Retail Ready Food Inc., recorded as County Clerk File Number 2016025608, of the Official Public Records of Lubbock County, Texas, located in Section 8, Block E, of the GC & SF R.R. Co. Survey, Lubbock County, Texas, and further described by metes and bounds as follows; BEGINNING at a 5/8 inch iron rod with yellow cap stamped "COBB FENDLEY BOUNDARY" (N:7,253,464.99', E: 949,892.70') set for the southwest corner of this tract on the common west line of said Tract A and east right-of-way line of Interstate 27, from which a 1/2 iron rod with cap stamped "HUGO REED & ASSOC." found for the southwest corner of said Tract A, bears South 01' 40' 39" West, 30.88 feet; THENCE North 01' 40' 39" East, along said common line, a distance of 88.19 feet to a Point for the most western northwest corner of this tract and being the same as the most western northwest corner of said Tract A; THENCE along the northwest line of said Tract A, with a Curve to the right with a Radius of 15.00 feet, an Arc Length of 23.58 feet, a Delta Angle of 90'03'54", and a Chord Bearing and Distance of North 46'42'36" East, 21.23 feet to a Point for the most northern northwest corner of this tract and being the same as the most northern northwest corner of said Tract A; Form T-1 Sec. II Effective November 1, 2024 THENCE South 88'15'27" East, along the common north line of said Tract A and the south line of 82nd Street, as shown in said Martin-Ameen Addition, a distance of 17.78 feet to a 5/8 inch iron rod with yellow cap stamped "COBB FENDLEY BOUNDARY" (N: 7,253,567.16', E: 949,928.50') set for the northeast corner of this tract, from which a 3/8 inch iron rod found for the northeast corner of said Tract A, bears South 88'15'27" East, 132.28 feet; THENCE South 47'28'50" West, a distance of 43.01 feet to a 5/8 inch iron rod with yellow cap stamped "COBB FENDLEY BOUNDARY" set for a corner of this tract; THENCE South 03'12'59" West, a distance of 73.21 feet to the POINT OF BEGINNING and containing withing these calls a calculated area of 545 square feet of land. Tract 2: Field notes describing a 1,109 square feet right-of-way (Tract 2) out of a called 0.272 acre tract of land located in Section 8, Block E, of the GC & SF R.R. Co. Survey, Lubbock County, Texas. BEING a 1,109 square feet tract of land out of a called 0.272 acre tract of land described in a Warranty Deed to Retail Ready Foods, Inc., recorded as County Clerk File Number 2018038485, of the Official Public Records of Lubbock County, Texas, located in Section 8, Block E, of the GC & SF R.R. Co. Survey, Lubbock County, Texas, and further described by metes and bounds as follows; BEGINNING at a 1/2 inch iron rod with cap stamped "HUGO REED & ASSOC." (N:7,253,571.64', E: 950, 143.03') found for the northeast corner of this tract and being the same as the northeast corner of said called 0.272 acre tract and the northwest corner of a called 0.333 acre tract of land described in a Warranty Deed with Vendor's Lien to Julia Gonzales and Gilbert S. Gonzales, recorded in County Clerk File Number 2016001962, of the Official Public Records of Lubbock County, Texas, on the south line of a Lubbock County Right-of-Way Easement for 82nd Street as described in Volume 500, Page 641, of the Official Public Records of Lubbock County, Texas, from which a Rail Road Spike (N: 7,253,537.48', E: 952,252.99') found for the northeast corner of said Section 8 bears North 01 °44'33" East, 30.00 feet and South 88° 15' 27" East, 2,110.02 feet, and a 1/2 inch iron rod found for the northeast corner of said called 0.333 acre tract bears South 88°15'27" East, 99.98 feet; THENCE South 01°42'25" West, along the common east line of said called 0.272 acre tract and west line of said called 0.333 acre tract, a distance of 16.05 feet to a 5/8 inch iron rod with yellow cap stamped "COBB FENDLEY BOUNDARY" set for the southeast corner of this tract; THENCE North 84°44'16" West, a distance of 82.18 feet, to a 3/8 inch iron rod (N:7,253,563.14', E: 950,060.72') found for the southwest corner of this tract and being the same as the northeast corner of Tract A of the Martin -Ameen Addition to the City of Lubbock, Lubbock County, Texas, as shown in Volume 1276, Page 644 of the Official Public Records of Lubbock County, Texas, and described in a Special Warranty Deed with Vendor's Lien to Retail Ready Food Inc., recorded as Form T-1 Sec. II Effective November 1, 2024 County Clerk File Number 2016025608, of the Official Public Records of Lubbock County, Texas; THENCE North 01°42'25" East, along common west line of said called 0.272 acre tract and east line of said 82nd Street, shown on said Martin-Ameen Addition, a distance of 11.00 feet to a Point for the northwest corner of this tract and being the same as the northwest corner of said 0.272 acre tract, on the south line of said Lubbock County Right-of-Way Easement of 82nd Street; THENCE South 88°15'27" East, along the common north line of said called 0.272 acre tract and south line of said Lubbock County Right-of-Way Easement of 82nd Street, a distance of 82.02 feet to the POINT OF BEGINNING and containing within these calls a calculated area of 1,109 square feet of land. NOTE: The Company is prohibited from insuring the area or quantity of the land described herein. Any statement in the legal description contained in Schedule "A" as to area or quantity of land is not a representation that such area or quantity is correct, but is made only for informal identification purposes and does not override Item 2 of Schedule "B" hereof. Z�ia,� `�. Y� Authorized Signature Form T-1 Sec. II Effective November 1, 2024 SCHEDULE B File No.: LBK-24-295 EXCEPTIONS FROM COVERAGE Policy No.: TX-26775777-OP-1-A This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees, or expenses) that arise by reason of the terms and conditions of the leases and easements, if any, shown in Schedule A, and the following matters: 1. The following restrictive covenants of record itemized below (the Company must either insert specific recording data or delete this exception): Subject to the Covenant, Condition, or Restriction, recorded in Volume 1276, Page 644 (Plat Map), of the Deed Records, Lubbock County, Texas. But omitting any covenant or restriction based on race, color, religion, sex, handicap, familial status or national origin unless and only to the extent that said covenant (a) is exempt under Chapter 42, U.S.C.Section 3604(c) of the United States Code or (b) relates to handicap but does not discriminate against handicapped persons. 2. Any discrepancies, conflicts, or shortages in area or boundary lines, or any encroaehments or protrusions, or any overlapping of improvements. Covered Risk 2(c) is hereby deleted. 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 inean 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 2025, 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. Form T-1 Sec. II Effective November 1, 2024 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.): Right of parties in possession. b. Rights of tenants, as tenants only, under unrecorded leases or rental agreements. c. 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 interests that are not listed. d. Rights of the Public, the State of Texas and the municipality in and that portion of subject properiy, if any, lying within the boundaries of any roadway, public or private. e. All leases, grants, exceptions or reservations of the geothermal energy and associated resources below the surface of the land, 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 the geothermal energy and associated resources below the surface of the land that are not listed. f. Building lines and easements, if any, as dedicated by plat recorded in Volume 1276, Page 644, Deed Records, Lubbock County, Texas. g. Subject to the Right-of-Way Easement, recorded on June 17, 1955 in Volume 579, Page 601 in the Deed Records of the Lubbock County, Texas. Subject to the Electric Line Easement, recorded on May 8, 1964 in Volume 988, Page 270 in the Deed Records of the Lubbock County, Texas. Subject to the Easement for Underground Facilities, recorded on January 20, 1977 in Volume 1506, Page 40 in the Deed Records of the Lubbock County, Texas. Subject to the Construction and Overhead Electrical Utility Easement, recorded on December 19, 1990 in Volume 3499, Page 92 in the Deed Records of the Lubbock County, Texas. k. Subject to the Electric Utility Easement, recorded on July 27, 2020 as County Clerk's File No. 2020031204 in the Official Public Records of the Lubbock County, Texas. Subject to the Electric Utility Easement, recorded on July 27, 2020 as County Clerk's File No. 2020031205 in the Official Public Records of the Lubbock County, Texas. m. Subject property lies within the boundaries of Hi Plains Water. n. Any rights, easements, interests or claims that may exist by reason of, or be reflected by, the following facts shown on the survey dated December 16, 2024 by Jeffrey L. Fansler, RPLS No. 4348. No encroachments found. Form T-1 Sec. II Effective November 1, 2024 o. Terms and conditions as contained within Street, Public Use and Right of Way Deed by and between City of Lubbock, Texas, a home rule municipal corporation and Retail Ready Foods, Inc., recorded on November 19, 2025 in Document No. 2025045115, Official Public Records, Lubbock County, Texas. p. Section 14 of the Conditions of this Policy is hereby deleted. Form T-1 Sec. II Effective November 1, 2024