T-13 TX Mortgagee's Title Policy Binder on Interim Construction Loan Schedule C

MORTGAGEE'S TITLE POLICY BINDER ON INTERIM CONSTRUCTION LOAN

BINDER NO. B-5833-

SCHEDULE C

Showing requirements to be complied with; defects and objections to be removed or eliminated, and liens and encumbrances to be satisfied and discharged of record before the policy will be issued without exceptions thereto:

1. Evidence satisfactory to the Company that:

   (a) No materials have been furnished or any labor performed in connection with the construction contemplated hereunder prior to the execution, acknowledgment and delivery of the lien instrument described under SCHEDULE A hereof, if the land described under SCHEDULE A forms any part of the homestead of the owner. (This item may be deleted if satisfactory evidence is furnished before binder is issued.)

   (b) Improvements have been completed and accepted by the owner.

   (c) All bills for labor and materials have been paid in full and no mechanic's, laborer's or materialmen's liens have attached.

   (d) Restrictions or restrictive covenants have not been violated.

2. Payment of the full consideration to, or for the account of, the grantors mortgagors.

3. Payment of all standby fees, taxes, charges and assessments levied or assessed against the subject estate or interest, which are currently due and payable.

4. Satisfactory evidence of legal right of access to and from the land.

5. (Here show outstanding liens or other matters that must be disposed of at or before issuance of Policy.)