Mineral Report - Camp Creek Ranch

Mitchell County, Texas

SEE BELOW FOR DISCLAIMER
SUBJECT TO ERRORS AND OMISSIONS

Tract #	Acres +/-	Description	Leasing Privileges %	Bonus %	Delay Rentals %	Royalties %
1	480	Section 67 - save and except NW/4	18.75%	18.75%	18.75%	12.50%
2	160	NW/4 of 67	0%	0%	0%	0%
3	72	W 72 Acres of E 472 Section 78	12.50%	12.50%	12.50%	0.0625%
4	200	W 200 Acres of E 400 less northern part of Section 78	12.50%	12.50%	12.50%	0.03125%
5	320 ?	N/2 of Section 78	12.50%	12.50%	12.50%	0.015625%
6	200	E 200 of Section 78	12.50%	12.50%	12.50%	0.03125%
7	320	N/2 of Section 78	12.50%	12.50%	12.50%	0.015625%
8	160	Section 77 NW/4 of 77 West of 163	0.25%	0.25%	0.25%	0.046875%
9	50	N/2 of E 100 acres of Section 78	0.25%	0.25%	0.25%	0.046875%

This report is subject to the following cautionary remarks:

Seller assumes no liability for errors or omissions in this report or for verbal statements. The title report may not be relied upon by third parties. The Seller and/or his firm undertake no responsibility nor liability for any reliance by third parties. This title report is furnished solely as an accommodation and represents the status of title as found by the Seller. This report is not intended to be relied upon, and should not be relied upon as a representation or warranty as to the title of the property described above. None of the information con- tained herein or the absence of other information, constitutes a representation to any party as to the status of title to such property. Seller assumes no liability whatsoever for the accuracy of this title report and shall, under no circumstances, be liable hereunder for any omission or error with respect thereto. Furthermore if any encumbrance or title defect should exist which is not disclosed herein, Seller shall not be liable to any party for having furnished this report or for any verbal statements related to this report or the status of title.

Again, Seller emphasizes that this mineral title report is subject to all comments, objections and requirements that may be raised in the event a complete and full abstract of title covering each of such tracts from the sovereignty of the soil to date by a licensed abstractor after careful review thereof.

Seller: Fisher Tarrant Homes LP