Res 1996-002 - Laserfiche WebLink

Home Browse Search

g~ Second. On January 18, 1984, Tom G. Ezell, Trustee/ ("Ezell, Trustee") purchased 9/055/ of Lot 6 in the Original Subdivision ("9,000/ Tract") and other property behind (that is, to the Southeast of) Lots 5 and 6 by Deed recorded in Volume 413/ Page 671/ Deed Records/ Hays County, Texas ("Ezell Propertv"). The 9,000/ Tract was expressly designated to serve as access to the balance of the Ezell Property located behind (to the Southeast of) Lots 5 and 6 of the Original Subdivision. On March 28, 1984, Ezell, Trustee conveyed the Ezell Property to San Marcos Partners, Ltd. ("SMP") by Deed recorded in Volume 428, Page 444, Deed Records/ Hays County/ Texas. SMP mortgaged the Ezell Property to secure a loan ("Ezell Loan") from Franklin Savings Association ("Franklin Savinqs"). Franklin Savings was later placed in receivership and was eventually succeeded in interest to the Ezell Loan by Franklin Federal BanCorp, F.S.B. ("Franklin Federal"). SMP defaulted on the Ezell Loan and Franklin Federal became the owner of the Ezell Property through the foreclosure/ obtained via Substitute Trustee's Deed dated December 5, 1989, recorded in Volume 889, Page 558, Real Property Records, Hays County, Texas. Third. By Deed dated October 15, 1985, and recorded in Volume 556/ Page 564, Gilbert R. Vallejo ("Vallejo ") purchased Lot 5 and a portion of Lot 6 (collectively called thé "Vallejo Property"), obtaining loans ("Valleio Loans") therefor from Seguin Savings Association ("Sequin Savinqs") secured by Deeds of Trust recorded in Volume 556, Page 567, and Volume 556, Page 572, Real Property Records, Hays County/ Texas, for the apparent purpose of obtaining money for construction of improvements on the Vallejo Property. ~ Fourth. In October of 1985/ in an apparent attempt to reconfigure the Vallejo Property into one contiguous tract, and for the Ezell Property priyate access right-of- way to be moved to a more suitable location relative to the Vallejo Property, an attempt was made by SMP and Vallejo to replat all of Lots 5 and 6. The private access right-of-way was moved to the far west end of Lot 6; however, Vallejo and SMP apparently either forgot or did not know to execute a conveyance document for the exchange of properties to effect the reconfiguration. Further, the lienholders of the replatted properties did not join in the attempted replat and no substitutions of collateral were made. The replat attempt is represented by replat ("Reolat") dated January 28/ 1986, with Lots 5 and 6 of Old Post Road Addition being replatt~d into a new legal description being Lot 5-A/ Lot 6-A/ and a tract designated as "This parcel is dedicated as a R.O.W. for access to rear property", and shown adjacent to the Location Map as "R.O.W. Lot 6-B" ("Lot 6-8"). Fifth. Apparently, despite never having executed a conveyance and never having entered into a substitution of collateral transaction, Vallejo and SMP believed that Vallejo was the owner of the 9,000/ Tract, and that SMP was the owner of the private access right-of-way on the far west edge of Lot 6, as a result of the Replat. Vallejo then constructed the building on th,e 9,000/ Tract with the proceeds of the Vallejo Loans. Page 2