HomeMy WebLinkAbout1997-049T \WPDOCS\ORD\CALLAHAN ORD
ORDINANCE NO. L1 I -CY19
AN ORDINANCE OF THE CITY OF DENTON, TEXAS AUTHORIZING THE CITY
MANAGER TO EXECUTE A REAL ESTATE CONTRACT BETWEEN THE CITY OF
DENTON AND ROBERT W. CALLAHAN, JAMES E CALLAHAN AND ANN C STARK
RELATING TO THE PURCHASE OF PROPERTY IN THE VICINITY OF THE CITY'S
WASTEWATER TREATMENT PLANT; AUTHORIZING THE EXPENDITURE OF FUNDS;
AND PROVIDING AN EFFECTIVE DATE.
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION I. That the City Manager is hereby authorized to
execute a real estate contract between the City of Denton and
Robert W. Callahan, James E. Callahan and Ann C Stark relating to
the purchase of property in the vicinity of the City's Wastewater
Treatment Plant, a copy of such contract is attached hereto and
incorporated herein by reference.
SECTION II. That the City Manager hereby authorizes the
expenditure of funds in the manner and amount as specified in the
agreement.
SECTION III. That this ordinance shall become effective
immediately upon its passage and approval
PASSED AND APPROVED this the Y-111- day of Al 1997
J MILLER, MAYOR
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
BY
APPROVED AS TO LEGAL FORM:
HERBERT L. PROUTY, CITY ATTORNEY
BY • ��Ac:�cxl GZt C
REAL ESTATE CONTRACT
STATE OF TEXAS
COUNTY OF DENTON
THIS CONTRACT OF SALE is made by and between Robert W
Callahan Ann C Stark and James E Callahan (hereinafter referred
to as "Seller") and CITY OF DENTON, TEXAS, a home rule municipali-
ty, of Denton, Denton County, Texas, (hereinafter referred to as
"Purchaser"), upon the terms and conditions set forth herein
PURCHASE AND SALE
1 Seller hereby sells and agrees to convey, and Purchaser hereby
purchases and agrees to pay for, the tract of land containing ap-
proximately 245 acres of land situated in Denton County, Texas,
being illustrated by Exhibit "A" attached hereto and incorporated
herein by reference for all purposes together with all and singular
the rights and appurtenances pertaining to the property, including
any right, title and interest of Seller in and to adjacent streets,
alleys or rights -of -way (all of such real property, rights, and
appurtenances being hereinafter referred to as the "Property"),
together with any improvements, fixtures, and personal property
situated on and attached to the Property, for the consideration and
upon and subject to the terms, provisions, and conditions hereinaf-
ter set forth
2 However, it is expressly understood that the seller shall have
the right to harvest the Pecan trees within the purchasers tracts
until December 31, 1999
3 Seller and Purchaser acknowledge that cattle are currently
grazing on the property purchased by Purchaser, (illustrated on
Exhibit "A" attached - tracts A & B) hereunder as well as on the
property adjacent to that being purchased by Purchaser which is
also owned by Seller (illustrated on Exhibit "A" attached - tracts
1, 2, 3 and 4) The Parties agree that the cattle can continue to
graze on tracts until Purchaser constructs a fence upon tracts A &
B or portions thereof The Seller agrees to maintain that portion
of the fence in existence at the execution of this contract that
deteriorates from normal wear and tear or unknown causes The
Purchaser agrees to pay all costs associated with the construction
of that portion of the fence erected by Purchaser subsequent to the
execution of this contract needed to separate the tracts City
shall, as a minimum, when installing the common boundary fencing,
construct a steel T-Post fencing with 4 strands of barbed wire
appropriately braced If any portion of the fence in either tracts
are damaged by the negligence of agents or invitees of a party to
this contract then such party, its successors and assigns will be
responsible for the repair to such portion of the fence damaged by
such party's agents or invitees Any damage to common boundary
fencing of the parties resulting from wear and tear or unknown
causes shall be shared 50-50 by the parties If perimeter fences
on the property being purchased by purchaser become in such a state
of disrepair as to be unuseable, then Seller may elect to notify
Purchaser
complete such construct co
fence construction fencingundary Purchaser
within180 days of
shallsuch
notification
4 Seller shall be responsible for any damage or claim based on
injury or death to person and damage to property arising by reason
of Seller's maintenance of cattle or livestock on any of the
harmless tracts any claims orr damagesindemnify filed
agai sds
and Seller agrees to er
t hold
fromby
reason of Seller's negligence
5 Seller, for clarification purposes, agrees this contract
assigns, conveys and/or transfers to Purchaser all leases or other
Sellerlegal rights
or
legal rights towells presently including,
pr sently be ng ut 1 utilizes by limitation,leases
1Star sGas
Company on the subject property
6 Seller, for clarification purposes, agrees this contract
assigns, conveys and/or transfers to Purchaser all water, irriga-
tion and flowage rights Seller has in the subject property and in
particular any rights conveyed to Seller by the Texas Natural
Resource Conservation Commission
7 Seller shall grant an ingress and egress easement to Purchaser,
ttached
Exhibito`"A" and
nThisross the easement 30will foot
terrminateus f Seell r provides
another ingress and egress easement in a different location or
dedicates a public road that allows purchaser access, if such new
easement or road is approved by purchaser and such approval may not
be unreasonably withheld
PURCHASE PRICE
1 Amount of Purchase Price The purchase price for the
Property shall be the sum of $575 000 00
2 Payment of Purchase Price The full amount of the Purchase
Price shall be payable in cash at the closing
PURCHASER'S OBLIGATIONS
The obligations of Purchaser hereunder to consummate the trans-
actions contemplated hereby are subject to the satisfaction of each
of the following conditions any of which may be waived in whole or
in part by Purchaser at or prior to the closing
1 Preliminary Title Report Within five (5) days after the
hPurchaser, Purchaser's ecost d
have caused the Title Company(hereinafterdefin defined) to issue ashall pre-
AEE00801 PAGE 2
liminary title report (the "Title Report") accompanied by copies of
all recorded documents relating to easements, rights -of -way, etc ,
affecting the Property Purchaser shall give Seller written notice
on or before the expiration of five (5) days after Purchaser re-
ceives the Title Report that the condition of title as set forth in
the title binder is or is not satisfactory, and in the event Pur-
chaser states the condition is not satisfactory, Seller shall, at
Seller's option, promptly undertake to eliminate or modify all
unacceptable matters to the reasonable satisfaction of Purchaser
In the event Seller is unable to do so within five (5) days after
receipt of written notice, this Agreement shall thereupon be null
and void for all purposes and the Escrow Deposit shall be forthwith
returned by the Title Company to Purchaser, otherwise, this con-
dition shall be deemed to be acceptable and any ob]ection thereto
shall be deemed to have been waived for all purposes
2 Survev Purchaser shall, at Purchaser's sole
cost
and
e
expense, obtain a current survey of the Property, prepared by
duly licensed Texas land surveyor acceptable to Purchaser The
survey shall be staked on the ground, and shall show the location
of all improvements, highways, streets, roads, railroads, rivers,
creeks, or other water courses, fences, easements, and rights -of -
way on or ad3acent to the Property, if any, and shall contain the
surveyor's certification that there are no encroachments on the
Property and shall set forth the number of total acres comprising
the Property, together with a metes and bounds description thereof
Purchaser will have five (5) days after receipt of the survey
to review and approve the survey In the event the survey is
unacceptable, then Purchaser shall within the five (5) day period,
give Seller written notice of this fact Seller shall, at Seller's
option, promptly undertake to eliminate or modify the unacceptable
portions of the survey to the reasonable satisfaction of Purchaser
In the event Seller is unable to do so within five (5) days after
receipt of written notice, Purchaser may terminate this Agreement,
and the Agreement shall thereupon be null and void for all purposes
and the Escrow Deposit shall be returned by the Title Company to
Purchaser Purchaser's failure to give Seller this written notice
shall be deemed to be Purchaser's acceptance of the survey
3 Seller's Compliance Seller shall have performed, ob-
served, and complied with all of the covenants, agreements, and
conditions required by this Agreement to be performed, observed,
and complied with by Seller prior to or as of the closing
REPRESENTATIONS AND WARRANTIES OF SELLER
Seller hereby represents and warrants to Purchaser as follows,
which representations and warranties shall be deemed made by Seller
to Purchaser also as of the closing date
AEE00801 PAGE 3
1 There are no parties in possession of any portion of the
Property as lessees, tenants at sufferance, or trespassers
2 Except for the prior actions of Purchaser, there is no
pending or threatened condemnation or similar proceeding
ofCeedinnor to r asses-
sment affecting the Property, or any p
art knowledge and belief of Seller is any such proceeding or assessment
contemplated by any governmental authority
3 Seller has complied with all applicable laws, ordinances,
regulations, statutes, rules and restrictions relating to the
Property, or any part thereof
4 (a) There are no toxic or hazardous wastes or materials on
or within the Property Such toxic or hazardous wastes or
materials include, but are not limited to, hazardous materials or
wastes as same are defined by the Resource Conservation and
Recovery Act (RCRA), as amended, and the Comprehensive Environmed
en-
tal Response Compensation and Liability Act (CERCLA),
as ame
(b) The City of Denton assumes the risk of and agrees to
indemnify and hold Seller harmless, and to defend Seller against
and from all claims, costs, liabilities, expenses (including
without limitation court costs and attorney's fees), or demands of
whatsoever nature or source for any defects or Environmental
Problems, latent or obvious, discovered or undiscovered, in the
real and chattel property to be conveyed hereunder, causing per-
sonal injury to or death of persons whomsoever (including without
limitation employees, agents or contractors of the City of Denton,
Seller or any third party), or causing property damage or destruc-
tion of whatsoever nature or contamination to the environment
(including without ert in itsproperty of the City f orcare, custody, or cotrol,Denton
or
Seller, or prop and
y
third party property), arising out of acts, omissions or events
occurring after Closing
(c) Seller assumes the risk of and agrees to indemnify and
hold the City of Denton harmless, and to defend the City of Denton
against and from all claims, costs, liabilities, expenses (includ-
ing without limitation court costs and attorney fees), or demands
of whatsoever nature or source for any defects or Environmental
Problems, latent or obvious, discovered or undiscovered, in the
real and chattel property to be conveyed hereunder, causing per-
sonal injury to or death of persons whomsoever (including without
limitation employees, agents orcontractors
of Seller,
the
City
f
Denton or any third party) , cao
g A propertydamage
destruc-
tion of whatsoever nature or contamination to the environment
(including without limitation property of Seller or the City of
Denton, or property in its or their care, custody, or control, and
third rty ut of acts, omissions or
ts
occurrr ng befo) re Closing, except , arising ofor problems caused by the usenof
the Purchaser's adjoining property
AEE00801 PAGE 4
"Environmental Problems" means any cause or action under the
federal Comprehensive Environmental Response Compensation and
Liability Act of 1980 (as amended) and any cause or action arising
from similar federal, state or local legislation or other rules of
law, and private causes of action of whatever nature which arise
from environmental damage, toxic wastes or other similar causes
MISCELLANEOUS OBLIGATIONS OF PARTIES
CLOSING
The closing shall be held at the office of First American
Title Insurance Company of Texas Title Company, Denton, Texas, on
or before March 14, 1997, or at such title company, time, date,
and place as Seller and Purchaser may mutually agree upon (which
date is herein referred to as the "closing date")
CLOSING REQUIREMENTS
1 Seller's Reauirements At the closing Seller shall
A Deliver to Purchaser a duly executed and acknowledged
General Warranty Deed conveying good and marketable title
in fee simple to all of the Property, free and clear of any
and all liens, encumbrances, conditions, easements, asses-
sments, and restrictions, except for the following
1 General real estate taxes for the year
of closing and subsequent years not yet
due and payable,
2 Any exceptions approved by Purchaser
pursuant to Purchaser's Obligations here-
of, and
3 Any exceptions approved by Purchaser
in writing
B Deliver to Purchaser a Texas Owner's Title Policy at
Purchaser's sole expense, issued by First American Title
Insurance Company of Texas, (the "Title Company") , or such
title company as Seller and Purchaser may mutually agree
upon, in Purchaser's favor in the full amount of the
purchase price, insuring Purchaser's fee simple title to
the Property sub]ect only to those title exceptions listed
in Closing Reauirements hereof, such other exceptions as
may be approved in writing by Purchaser, and the standard
printed exceptions contained in the usual form of Texas
Owner's Title Policy, provided, however
AEE00801 PAGE 5
1 The boundary and survey exceptions
shall be deleted if required by Purchaser
and if so required, the costs associated
with same shall be borne by Purchaser,
2 The exception as to restrictive cove-
nants shall be endorsed "None of Record",
3 The exception for taxes shall be
limited to the year of closing and shall
be endorsed "Not Yet Due and Payable", and
4 The exception as to liens encumbering
the Property shall be endorsed "None of
Record"
C Deliver to Purchaser possession of the Property on the
day of closing
2 Purchaser's Reauirements Purchaser shall pay the full
cash purchase price to Seller at Closing in immediately available
funds
3 Closing Costs Through the date of Closing, Seller shall
pay all taxes assessed by any tax jurisdiction through the date of
Closing
All other costs and expenses of closing in consummating the
sale and purchase of the Property not specifically allocated herein
shall be paid by Purchaser
REAL ESTATE COMMISSION
Any real estate commissions occasioned by the consummation of
this Agreement shall be the sole responsibility of Seller, and
Seller agrees to indemnify and hold harmless Purchaser from any and
all claims for these commissions
BREACH BY SELLER
In the event Seller shall fall to fully and timely perform any
of its obligations hereunder or shall fall to consummate the sale
of the Property except Purchaser's default, Purchaser may either
enforce specific performance of this Agreement or terminate this
Agreement
AEE00801 PAGE 6
BREACH BY PURCHASER
In the event Purchaser should fail to consummate the purchase
of the Property, the conditions to Purchaser's obligations set
forth in PURCHASER'S OBLIGATIONS having been satisfied and
Purchaser being in default Seller may either enforce specific
performance of this Agreement, or terminate this Agreement
MISCELLANEOUS
1 Assignment of Agreement This Agreement may not be
assigned by Purchaser without the express written consent of
Seller
2 Survival of Covenants Any of the representations, war-
ranties, covenants, and agreements of the parties, as well as
any rights and benefits of the parties, pertaining to a period of
time following the closing of the transactions contemplated hereby
shall survive the closing and shall not be merged therein
3 Notice Any notice required or permitted to be delivered
hereunder shall be deemed received when sent by United States mail,
postage prepaid, certified mail, return receipt requested, addres-
sed to Seller or Purchaser, as the case may be, at the address set
forth beneath the signature of the party
4 Texas Law to Apply This Agreement 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
Denton County, Texas
5 Parties Bound This Agreement shall be binding upon and
inure to the benefit of the parties and their respective heirs,
executors, administrators, legal representatives, successors and
assigns where permitted by this Agreement
6 Legal Construction In case any one or more of the pro-
visions contained in this Agreement shall for any reason be held to
be invalid, illegal, or unenforceable in any respect, said in-
validity, illegality, or unenforceability shall not affect any
other provision hereof, and this Agreement shall be construed as if
the invalid, illegal, or unenforceable provision had never been
contained herein
7 Prior Agreements Superseded This Agreement constitutes
the sole and only agreement of the parties and supersedes any prior
understandings or written or oral agreements between the parties
respecting the within sub]ect matter
8 Time of Essence Time is of the essence in this Agreement
AEE00801 PAGE 7
9 Gender Words of any gender used in this Agreement shall
be held and construed to include any other gender, and words in the
singular number shall be held to include the plural, and vice
versa, unless the context requires otherwise
10 Memorandum of Contract Upon request of either party,
both parties shall promptly execute a memorandum of this Agreement
suitable for filing of record
11 Compliance In accordance with the requirements of the
Texas Real Estate License Act, Purchaser is hereby advised that it
should be furnished with or obtain a policy of title insurance or
Purchaser should have the abstract covering the Property examined
by an attorney of Purchaser's own selection
12 Time Limit In the event a fully executed copy of this
Agreement has not been returned to Purchaser within five (5) days
after Purchaser executes this Agreement and delivers same to Sel-
ler, Purchaser shall have the right to terminate this Agreement
upon written notice to Seller
DATED this /* day of
F434 3:4
i(imes E Callahan,
Ind1v1�
�mes E Ca11aC��
Attorney in fact for
Ann
Fames E Callahan,
Attorney in fact for
Robert W Callahan
PURCHASER
THE CITY OF DENTON, TEXAS
By �/ y
Ted Senavides
215 E McKinney Street
Denton, Texas 76201
APPROVED AS TO LEGAL FORM
HERBERT L PROUTY, CITORNEY
BY �Q��Etti�✓//////
1997
AEE00801 PAGE 8
STATE OF
COUNTY OF
This strument was
of
acknowledged
1997 by James
before me on
E Callahan
this day
Notary Public -in
MARTHA BOSLEY
P'-'es
Notary Public State of TexasSTATE OF TESRMy Comm ExplresoEtSe7
COUNTY OF 2
Th s instrument was acknowledged before me on this day
of y , 1997 by James E Callahan, Attorney in fact
for Ann C ark
,,ARTHA BOSLEY
Notary Public SWIe of Texas
STATE OF TE�}jAS��, MY COMM Egdres0�1897
� ^h ° 4t
COUNTY OF <.
Thj,s,instrument was acknowledged before me on this Z& day
oft 1997 by James E Callahan, Attorney in fact
for Rober Callahan
STATE OF TEXAS
COUNTY OF DENTON
Notary Public in
SdSM110 PS0IIQod ARION
A31SOS VHLUVw
This instrument is acknowledged be"�`ore`me,-on this / th day
of o %Lziurrd , 1997 by Ted Benavides City Manager, of the
City of Den on, a municipal corporation, known to me to be the
person and officer whose name is subscribed to the foregoing
instrument and acknowledged to me that the same was the act of the
said City of Denton, Texas, a municipal corporation, that he was
duly authorized to perform the same by appropriate ordinance of the
City Council of the City of Denton and that he executed the same as
the act of the said City for purposes and consideration therein
expressed, and in the capacity therein stated
ELIZABETH J WILLIAMS
" MyCOMMIbWNEXPIBES Notayy Publ in and for Texas
1 Mey 16.1997
AEE00801 PAGE 9
too
PROPOSED CITY ACQUISITION
Tract A - 154.0 acres
Tract 8 - 91.0 acres
Sub total 245.0 acres
CALLAHAN'S TO RETAIN
Tract 1 - 41.0 acres
Tract 2 - 12.6 acres
Tract 3 - 37.4 acres
Tract 4 - 21.0 acres
Sub total 112.0 acres
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FIRST AMERICAN TITLE INSURANCE COMPANY OF TEXAS
1612 SUMMIT AVENUE, SUITE 100
FORT WORTH, TEXAS 76102
(817) 335-8333 metro (214) 949-2565 fax no. (817) 338-1316
April 2, 1997
CITY OF DENTON
215 E MCKINNEY STREET
DENTON, TEXAS 76201
RE Our File No 96-4161DN/KP
Dear Homeowners
Enclosed is your Owner Policy of Title Insurance This policy contains important information about
the real estate transaction you have lust completed, it is your guarantee of ownership Please read it and
retain It with your other valuable papers
A complete and permanent file of the records concerning your transaction will be maintained in our
office under the above assigned file number These records will assure prompt processing of future tale
orders and save valuable time should you wish to sell or obtain a loan on your property Visit or call any
one at our offices and simply give them your personal file number
We appreciate the opportunity of serving you and will be glad to assist you in any way in regard
to your future escrow or title service needs
It is your responsibility to render your property to the respective taxing authorities to obtain
appropriate exemptions, If any, assure proper mailing of future tax notices
Again, thank you
Sincerely,
FIRST AMERICAN TITLE INSURANCE COMPANY OF TEXAS
C4 11�c-a
Cindy McFarland, Escrow Officer
Policy Department
Enclosure
CM/TMG
First American Title Insurance Company
of Texas
439834 O OWNER POLICY OF TITLE INSURANCE
Issued by
FIRST AMERICAN TITLE INSURANCE COMPANY
OF TEXAS
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED
IN SCHEDULE B AND THE CONDITIONS *ND STIPULATIONS, FIRST AMERICAN TITLE INSURANCE
COMPANY OF TEXAS , a Texas corporation, herein called the Company, insures, as of Date of Policy shown in
Schedule A, against loss of damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred
by the insured by reason of
1 Title to the estate or interest descfibed in Schedule A being ,vested other than as stated therein,
2 Any defect nkot'lien or enbpmbfAnce on the title,
3 Any Btat#tot ,or conpututionaLmechanic s, contractor's,
its'geit}on=on of before Date of Poyiey,
4 Lack of a right of access to and from the land,
f., .
or materialman's lien for labor or material having
5 Lack of good,nlid,Iridefeasible titfef"
The Company also wi11 pay the eosts,' attofneys' fees and expenses incurred in defense of the title, as insured,
but only to the extent provided in the -Conditions ant} Stipulatiops
t
IN WITNESS HEREOF, the FIRST AMERICAN TITLE INSURANCE COMPANY OF TEXAS has caused this
policy to be executed by its President under the seal of the Company, but this policy is to be valid only when it bears an
authorized countersignature, as of the date set forth in Schedule A
ATTEST
Secretary,
First American Title Insurance Company
of Texas
BY 4j�AlflvTL� t-'� lµ'j,p�-d' PRESIDENT
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(b) The Company shall have the right at its own cost to institute and prosecute
any action or proceeding or in do any other act that in its opinion may be necessary or
desirable to establish the title In the estate or interest 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 hereunder and shall
not thereby concede liability or waive any provision of this policy If the Company
shall exercise its rights under this paragraph it shall do so diligently
(c) Whenever the Company shall have brought an action or interposed a defense
as required or permitted by the provisions of this policy the Company may pursue any
litigation to final determination by a court of competent jurisdiction and expressly
reserves the right in its sole discretion to appeal from any adverse judgment or order
(d) In all cases where this policy permits or requires the Company m prosecute
or provide for the defense of any action or proceeding the insured shall secure to the
Company the right to so prosecute or provide defense in the action or proceeding and
all appeals themin and permit the Company 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 Company all reasonable aid 0) in any action or
proceeding securing evidence obtaining witnesses prosaating or defending the action
or proceeding or effecting settlement and (it) in any other lawful act that in the
opinion of the Company may be necessary or desirable to establish the tide to the
estate or interest as insured If the Company is prejudiced by the failure of the insured
to furnish the required cooperation the Company a obligations to the insured under the
policy shall terminate including any liability or obligation to defend prosecute or
continue any litigation with regard to the matter or matters requiting such cooperation
5 PROOF OF LOSS OR DAMAGE
In addition to and after the ounces required under Section 3 of these Conditions
and Stipulations have been provided the Company a proof of loss or damage signed
and sworn to by the insured claimant shall be famished to the Company within 91
days after the insured claimant shall ascartam the facts giving rise in the loss or
damage The proof of loss or damage shall describe the defect in or hen or
encumbrance on the title or other matrix insured against by this policy that consulates
the basis of loss or damage and shall state to the extent possible the basis of
calculating the amount of the loss or damage If the Company is prejudiced by the
failure of the insured claimant to provide the required proof of lose or damage the
Company s obligations to the insured under the policy shall terminate including any
Lability or obligation to defend prosecute or continue any litigation with regard to
the matter or matters requiring such proof of loss or damage
In addition the insured claimant may reasonably be required to submit to
examination under oath by any authored representative of the Company and shall
produce for examination inspection and copying at such reasonable times and places
as may he designated by any authorized representative of the Company all records
books ledgers checks correspondence and memoranda whether bearing a date before
or after Dale of Policy which reasonably pertain to the loss or damage Further if
requested by any authorized representative of the Company the insured element shall
grant is permission in writing for any authorized representative of the Company to
examine inspect and copy all records books ledgers checks correspondence and
memoranda in the custody or control of a third parry which reasonably pertain to Ne
loss or damage Ad information designated as confidential by the insured claimant
provided to the Company pursuant to this Section shall not be disclosed in others
unless in the reasonable judgment of the Company It is necessary in the
administration of the clan Failure of the insured claimant to submit for examination
under oath produce other reasonably, requested information or grant permission to
secure reasonably necessary information from third parties as required in this
paragraph shell emimata 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
addition) options
(a) To Puy 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 almmeys fees and expenses incurred by the insured claimant which
were authorized by the Company up to the time of payment or tender of payment and
which the Company is obligated to pay
Upon the exercise by the Company of this option all liability and obligations in
the insured under this policy other than to lake the payment required shall
mrmiate including any liability or obligation to defend prosecute or commue any
litigation and the policy shall be surrendered to the Company for cancellation
(b) To Pay or Otherwise Settle With Parties Other than the Insured or With the
Insured Claimant
(0 to pay or otherwise aside with other panics for or in the name of an
insured claimant any claim toured against under this palmy together with any costs
attorneys fees and expenses incurred by the insured claimant which were authorized
by the Company up in the time of payment and which the Company is obligated to
pay or
00 to pay or otherwise settle with the insured claimant the loss or damage
provided for under this policy together with any costs attorneys fees and expenses
incurred by the insured claimant which were authorized by the Company up to the
time of payment and which the Company is obligated to pay
Upon the exercise by the Company of either of the options provided for in
paragraphs (b)(1) or (11) the Company s obligations to the insured under this Policy for
the claimed loss or damage other then the payments required to be made shall
terminate including any liability or obligation in defend prosecute or continue any
litigation
7 DETERMINATION EXTENT OF LIABILITY AND COINSURANCE
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 this policy and only to the extent herein
described
(a) The liability of the Company under this policy shall not exceed the least of
(0 the Amount of Insurance stated in Schedule A or
(it) the difference between the value of the insured estate or interest as
insured and the value of the insured estate or interest subject to the defect lien or
encumbrance insured against by this policy at the date the insured claimant is required
to furnish in Company a proof of loss or damage in accordance with Section 5 of these
Conditions and Stipulations
(b) In the event the Amount of Insurance stated in Schedule A at the Date of
Policy is less than 80 percent of the value of the insured estate or interest or the full
consideration paid for the land whichever is less or if subsequent to the Date of
Policy an improvement is erected on the land which increases the value of the insured
estate or interest by at least 20 percent over the Amount of Insurance staved in
Schedule A then this Policy is subject to the following
(0 where no subsequent improvement has been made as to any partial
loss the Company shall only pay the loss pro ram in the proportion that the amount of
insurance at Date of Policy bears to the total value of the insured estate or interest at
Date of Policy or
(it) where a subsequent improvement has been made as to any partial
loss the Company shall only pay the loss pro ram in the proportion that 120 percent
of the Amount of Insurance stated in Schedule A bears to the sum of the Amount of
Insurance stated in Schedule A and the mount expended for the improvement
The provisions of this paragraph shall not apply to costs attorneys fees and
expenses for which the Company is liable under this policy and shall only apply to
that portion of any loss which exceeds in the aggregate 10 percent of the Amount of
Insurance stated in Schedule A
(c) The Company will pay only those costs almmeys fees and expenses
incurred in accordance with Section 4 of these Conditions and Stipulations
8 APPORTIONMENT
If the land described in Schedule A consists of two or more parcels that are not
used as a single site and a loss is established affecting one or more of the parcels but
not all the loss shall be computed and settled on a pro rate basis as if the amount of
insurance under this policy was divided pro ram as to the value on Date of Policy of
each separate parcel to the whole exclusive of any improvements made subsequent to
Date of Policy unless a liability or value has otherwise been agreed upon as in each
parcel by the Company and the insured at the time of the issuance of this policy and
shown by an express statement or by an endorsement attached to this policy
9 LIMITATION OF LIABILITY
(a) If the Company establishes the title or removes the alleged defect lien or
encumbrance or cures the lack of a right of access to or from the land all as insured
or takes action in accordance with Section 3 or Section 6 in a reasonably diligent
manner by any method including litigation and the completion of any appeals
therefrom it shall have fully performed its obligations with respect to that matter and
shall not be liable for any loss or damage caused thereby
(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 dounnam mom by a court of competent jurisdiction and
disposition of all appeals therefrom adverse to the title as insured
(c) The Company shall not he liable for loss or damage to any insured for
liability voluntarily assumed 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 attorneys mev
and expenses shall reduce the amount of the insurance pro tanto
11 LIABILITY NONCUMULATIVE
It is expressly understood that the amount of insurance under this policy shall be
reduced by any amount the Company may pay under any policy insuring a mongnge to
which exception is taken in Schedule B or to which the insured has agreed assumed
or taken subject or which is hereafter executed by an insured and which is a charge or
hen on the estate or interest descnbed or referred in in Schedule A and the amount so
paid shall be deemed a payment under this policy to the insured owner
12 PAYMENT OF LOSS
(a) No payment shall be made without producing this policy for endorsement of
the payment unless the policy has been lost or destroyed in which case proof of loss
or destruction shall be furnished in the satisfaction of the Company
(b) When Imbdity, and the extent of loss or damage has been defuumly fixed in
accordance with these Condmons and Stipulations the loss or damage shall be payable
within 30 days thereafter
13 SUBROGATION UPON PAYMENT OR SETTLEMENT
(a) The Company s Right of Subrogation
Whenever the Company shall have settled and paid a claim under this policy all
right of subrogkbon shall vest in the Company unaffected by any act of the insured
claimant
The Company shall be subrogated to and be entitled to all rights and remedies
that the insured claimant would have had against any person or property in respect to
the claim had this policy not been issued If requested by the Company the insured
claimant shall transfer to the Company all rights and remedies against any person or
property necessury in order in perfect this right of subrogation The insured claimant
shall permit the Company in sue compromise or wide in the name of the insured
claimant and in use the name of the insured claimant in any transaction or litigation
involving these rights or remedies
If a payment on account of a claim does not fully cover the loss of the insured
carman the Company shall be subrogated to these rights and remedies in the
proportion that the Company s payment bears to the whole amount of the loss
If loss should result from any act of the insured claimant as stated above that
act shall not said this policy buo-the,�wgpuny in that event shall be required to pay
only that pan of any losces maurpdjr tt by this policy that shall exceed the amount
if any lost in the Company by reason of the impartment by the insured claimant of the
Company s right of subrogation
(b) The Company s Rights Against Non Insured Obligors
The Company s right of subrogation against non insured obligors shall exist and
shall include without limtmuon the rights of the insured to indemnities guaranties
other policies of insurance or bonds notwithstanding any terms or conditions contained
in those instruments that provide for subrogation rights by reason of this polity
14 ARBITRATION
Unless prohibited by applicable law or unless this arbitration section is deleted by
specific provision in Schedule B of this policy either the Company or the insured may
demand arbitration pursuant to the Title Arbitration Rules or the American Arbvranon
Association Arbitrable matters may include but are not limited to any
controversy or clam between the Company and the Insured arising out of or relating
in this policy any service of the Company in connection with its issuance or the
breach of a policy provision or other obligation All arbitrable matters when the
Amount of Insurance is $1 000 000 or leas SHALL BE arbitrated at the request of
either the Company or the Insured unless the insured is an individual person (as
distinguished from a corporation most partnership association or other legal entity
All arbitrable maners when the Amount of Insurance is in excess of $1 000,000 shall
be arbitrated only when agreed to by both the Company and the Insured Arbitration
pursuant in this policy and under the Rules in effect on the date the demand for
arbitration is made or at the option of the insured the Rules in effect at Date of
Policy shall be binding upon the parties The award may include anomeys fees only If
the laws of the state in which the lend is located permit a court in award attorneys
fees to a prevailing party Judgment upon the award rendered by the Arbitmtrans) may
be entered in any court having jurisdiction thereof
The law of the arms of the land shag apply to an arbitration under the Title
Insurance Arbitration Rules
A copy of the Rules may be claimed from the Company upon request
15 LIABILITY LIMITED TO THIS POLICY POLICY ENTIRE CONTRACT
(a) This policy together with all endorsements if any attached hereto by the
Company is the entire policy and contract between the insured and the Company In
interpreting any provision of this policy tins policy shall be construed as a whole
(b) Any claim of loss or damage whether or not based on negligence and
which arises out of the wants of the tole in the estate or interest covered hereby or by
any action asserting such claim shall be restricted to this policy
(c) No amendment of or endorsement to this policy can be made except by a
writing endorsed hereon or attached hereto signed by either the President a Vice
President the Secretary an Assistant Secretary or validating officer or authorized
signatory of the Company
16 SEVERABILITY
In the event any provision of the policy is held invalid or unenforceable under
applicable law the policy shall be deemed not to include that provision and all other
provisions shall remain in full force and effect
17 NOTICES WHERE SENT
All minces required to be given the Company and any statement in writing
required to be furnished the Company shall include the number of this policy and shall
be addressed to the Company at First American Title Insurance Company 11490
Westheimer Road Suite 600 Houston TX 77077
COMPLAINT NOTICE
Should any dispute anse about your premium or about a claim that you have
filed contact the agent or write in the Company that issued the polity If the problem
is not resolved you also may write the Texas Department of Insurance P O Box
149091 Austin TX 78714 9091 Fax No (512) 475 1771 This notice of complaint
procedure is for information only and does not become a part or condition of this
policy
A
OWNER
POLICY
SERIAL
NUMBER 439834 O
DATE OF POLICY MARCH 27, 1997 AT 3 11PM
ISSUED WITH NO NONE
1 NAME OF INSURED
SCHEDULE A
CITY OF DENTON, TEXAS
G F NO 96-4161DN/KP
PREMIUM(S) $4,09600
RATE RULE(S) 1000
PROPERTY TYPE 4
$ 575,000 00
AMOUNT OF INSURANCE
2 THE ESTATE OR INTEREST IN THE LAND THAT IS COVERED BY THIS POLICY IS
FEE SIMPLE
3 TITLE TO THE ESTATE OR INTEREST IN THE LAND IS INSURED AS VESTED IN
CITY OF DENTON, TEXAS
4 THE LAND REFERRED TO IN THIS POLICY IS DESCRIBED AS FOLLOWS
SEE CONTINUATION SHEET, SCHEDULE A, ATTACHED HERETO AND MADE A PART HEREOF FOR ALL
PURPOSES
COUNTERSIGNED
ON AND AS OF THE DATE HEREOF
FIRST AMERICAN TITLE INSURANCE COMPANY
OF TEXAS
BY
Cindy McFarland Escrow Officer
THIS POLICY NOT VALID UNLESS DULY COUNTERSIGNED BY AGENT
GF NO 96-4161DN/KP MTP NO NONE ISSUED W
OTP NO 439834 O /
SCHEDULE A
CONTINUED
All that certain tract or parcel of land lying and being situated in the Gideon Walker Survey Abstract 1330 and the
Moreau Forrest Survey Abstract 417, Denton County, Texas and being part of the same (called) 430 14 acre tract
as described in a deed from Felix W Callahan, at ux to Ann C Stark, Robert W Callahan and James E Callahan
on the 5th day of October, 1979, recorded in Volume 979, Page 103, Deed Records of Denton County Texas and
being more particularly described as follows
COMMENCING at an Iron rod at the southwest corner of said 430 140 acre tract in Mayhill Road, at a point which
is 19 0 feet west of a fence corner post, said corner also being the southwest corner of the M Forrest Survey and
the northwest corner of the G Walker Survey,
THENCE North 02 degrees 53 minutes 00 seconds East with the west line of the M Forrest Survey in Mayhill Road,
a distance of 550 09 feet to a 1 /2 Inch Iron rod set at the Point of Beginning of the herein described tract
THENCE North 02 degrees 53 minutes 00 seconds East with the west line of the M Forrest Survey in said Mayhill
Road, a distance of 1550 90 feet to a 1 /2 Inch Iron rod set for corner,
THENCE South 87 degrees 25 minutes 07 seconds East a distance of 212 84 feet to a 1 /2 inch iron rod set for
corner,
THENCE South 59 degrees 24 minutes 33 seconds East a distance of 102 67 feet to a 1 /2 inch iron rod set for
corner,
THENCE South 34 degrees 56 minutes 12 seconds East a distance of 149 73 feet to a 1 /2 inch iron rod set for
corner,
THENCE South 49 degrees 19 minutes 26 seconds East a distance of 86 24 feet to a 1 /2 Inch iron rod set for corner,
THENCE South 73 degrees 54 minutes 29 seconds East a distance of 97 96 feet to a 1 /2 Inch iron rod set for corner,
THENCE South 33 degrees 39 minutes 13 seconds East a distance of 228 91 feet to a 1 /2 inch Iron rod set for
corner,
THENCE South 08 degrees 45 minutes 41 seconds East a distance of 277 17 feet to a 1 /2 inch iron rod set for
corner,
THENCE South 39 degrees 54 minutes 01 seconds East a distance of 227 84 feet to a 1 /2 inch iron rod set for
corner,
THENCE South 56 degrees 00 minutes 20 seconds East a distance of 195 33 feet to a 1 /2 inch Iron rod set for
corner,
THENCE South 69 degrees 28 minutes 00 seconds East a distance of 251 46 feet to a 1 /2 inch iron rod set for
corner,
THENCE South 51 degrees 16 minutes 18 seconds East a distance of 299 57 feet to a 1 /2 Inch iron rod set for
corner,
THENCE North 76 degrees 36 minutes 28 seconds East a distance of 44 61 feet to a 1 /2 Inch von rod set for corner,
THENCE North 16 degrees 07 minutes 37 seconds East a distance of 200 08 feet to a 1/2 inch von rod set for
corner,
SEE CONTINUATION SHEET, SCHEDULE A, ATTACHED HERETO AND MADE A PART HEREOF FOR ALL
PURPOSES
GF NO 96-4161 DN/KP
OTP NO 439834 O ISSUED W/MTP NO NONE
SCHEDULE A
CONTINUED
THENCE North 09 degrees 20 minutes 37 seconds West a distance of 72 01 feet to a 1/2 Inch Iron rod set for
corner,
THENCE North 04 degrees 58 minutes 19 seconds East a distance of 99 43 feet to a 1/2 inch iron rod set for corner
THENCE North 28 degrees 53 minutes 27 seconds East a distance of 86 01 feet to a 1/2 inch iron rod set for corner,
THENCE South 72 degrees 16 minutes 53 seconds East a distance of 28 55 feet to a 1/2 inch iron rod set for corner
THENCE South 10 degrees 06 minutes 40 seconds East a distance of 44 50 feet to a 1/2 Inch iron rod set for corner,
THENCE South 88 degrees 18 minutes 08 seconds East a distance of 102 70 feet to a 1/2 inch iron rod set for
corner on the west line of a tract described in a deed to Ediberto Rodriquez, recorded in Volume 3142, Page 161,
Real Property Records of Denton County, Texas,
THENCE South 02 degrees 40 minutes 41 seconds West with the west line of said Rodriquez tract along and near
a fence, a distance of 461 72 feet to a 1/2 Inch Iron rod set at a fence corner post at the southwest corner of said
Rodriquez tract,
THENCE South 87 degrees 27 minutes 44 seconds East with the South line of said Rodriquez tract along and near
a fence, a distance of 219 01 feet to a 1/2 inch Iron rod found at a fence corner post, at the southeast corner of said
Rodriquez tract and the southwest corner of a 24 156 acre tract deeded to Jesse M Lawrence, Jr, recorded in
County Clerks Number 94-R0039609, Real Property Records of Denton County, Texas
THENCE South 86 degrees 51 minutes 12 seconds East with the South line of said Lawrence tract along and near
a fence, a distance of 159 19 feet to a 1/2 inch Iron rod set at a fence corner post an inner corner of said Lawrence
tract,
THENCE South 03 degrees 23 minutes 54 seconds West along and near a fence on the West line of said Lawrence
tract, a distance of 798 23 feet to a 1/2 Inch Iron rod set at a fence corner post at a southwest corner of said 24 156
acre Lawrence tract,
THENCE South 87 degrees 11 minutes 00 seconds East along and near a fence on the south line of said Lawrence
tract, a distance of 1153 81 feet to a 1/2 inch iron rod set for corner,
THENCE South 07 degrees 28 minutes 56 seconds East a distance of 192 73 feet to a 1/2 inch iron rod set for
corner,
THENCE South 01 degrees 02 minutes 51 seconds East a distance of 229 80 feet to a 1/2 inch iron rod set for
corner,
THENCE South 30 degrees 47 minutes 50 seconds East a distance of 87 16 feet to a 1/2 inch iron rod set for corner
THENCE South 76 degrees 37 minutes 23 seconds East a distance of 97 09 feet to a 1/2 inch iron rod set for corner
THENCE North 65 degrees 27 minutes 17 seconds East a distance of 73 32 feet to a 1/2 inch iron rod set for corner,
THENCE South 57 degrees 46 minutes 17 seconds East a distance of 52 93 feet to a 1/2 inch iron rod set for corner,
THENCE South 28 degrees 25 minutes 09 seconds East a distance of 123 22 feet to a 1/2 Inch iron rod set for
corner,
SEE CONTINUATION SHEET, SCHEDULE A. ATTACHED HERETO AND MADE A PART HEREOF FOR ALL
PURPOSES
GF NO 96-4161 DN/KP
OTP NO 439834 0 ISSUED W/MTP NO NONE
SCHEDULE A
CONTINUED
THENCE South 17 degrees 47 minutes 21 seconds West a distance of 19996 feet to a 1/2 inch iron rod set for
corner,
THENCE South 47 degrees 28 minutes 31 seconds East a distance of 52 74 feet to a 1/2 inch iron rod set for corner
THENCE South 20 degrees 26 minutes 44 seconds West a distance of 97 33 feet to a 1/2 inch iron rod set for
corner,
THENCE South 31 degrees 49 minutes 43 seconds West a distance of 21 63 feet to a 1/2 inch iron rod set for
corner,
THENCE South 83 degrees 15 minutes 00 seconds East a distance of 69 14 feet to a 1/2 Inch iron rod set for corner,
THENCE South 88 degrees 52 minutes 30 seconds East a distance of 145 50 feet to a 1/2 inch Iron rod set for
corner,
THENCE North 75 degrees 17 minutes 33 seconds East a distance of 212 90 feet to a 1/2 inch iron rod set for
corner,
THENCE South 87 degrees 58 minutes 10 seconds East a distance of 295 20 feet to a 1/2 inch iron rod set for
corner,
THENCE South 86 degrees 59 minutes 04 seconds East a distance of 533 87 feet to a 1/2 inch Iron rod set for
corner,
THENCE South 88 degrees 14 minutes 30 seconds East a distance of 295 20 feet to a 1/2 inch Iron rod set for
corner,
THENCE South 01 degrees 45 minutes 30 seconds West a distance of 12958 feet to a 1/2 inch Iron rod set for
corner,
THENCE South 88 degrees 14 minutes 30 seconds East a distance of 636 01 feet to a 1/2 Inch iron rod set on the
East line of said Callahan tract, and the west line of a tract deeded to Khosrow Sadeghian tract, recorded in County
Clerks Instrument number 96-R0025345, Real Property Records of Denton County, Texas
THENCE South 01 degrees 42 minutes 54 seconds West with the west line of said Sadeghian tract, a distance of
242 54 feet to a found Iron rod at the northeast corner of a 6 89 acre tract leased to Lone Star Gas company,
recorded in Volume 545, Page 31, Deed Records of Denton County, Texas,
THENCE South 01 degrees 45 minutes 30 seconds West with the west line of said Sadeghlan tract and the east line
of said 6 89 acre tract, a distance of 500 00 feet to an Iron rod found at the southeast corner of said 6 89 acre tract,
THENCE South 01 degrees 49 minutes 02 seconds West, along and near a fence, with the west line of said
Sadeghian tract and the east line of said Callahan tract, a distance of 2796 33 feet to a corner in the middle of Pecan
Creek,
THENCE Northwesterly with the middle of Pecan Creek the following bearings and distances,
1 South 79 degrees 33 minutes 02 seconds West 124 48 feet,
2 South 76 degrees 14 minutes 08 seconds West 78 78 feet,
3 North 39 degrees 22 minutes 59 seconds West 62 97 feet,
4 South 76 degrees 31 minutes 10 seconds West 123 16 feet,
SEE CONTINUATION SHEET, SCHEDULE A, ATTACHED HERETO AND MADE A PART HEREOF FOR ALL
PURPOSES
GF NO 96-4161DN/KP
OTP NO 439834 0 ISSUED W/MTP NO NONE
SCHEDULE A
CONTINUED
5 North 86 degrees 18 minutes 57 seconds West 152 57 feet,
6 North 11 degrees 42 minutes 56 seconds West 431 80 feet,
7 North 22 degrees 47 minutes 34 seconds West 220 43 feet,
8 North 51 degrees 39 minutes 14 seconds West 116 70 feet,
9 South 54 degrees 12 minutes 16 seconds West 85 46 feet,
10 North 39 degrees 11 minutes 52 seconds West 212 03 feet,
11 North 25 degrees 34 minutes 58 seconds West 77 51 feet,
12 North 58 degrees 16 minutes 38 seconds West 151 60 feet,
13 South 02 degrees 37 minutes 29 seconds West 271 76 feet,
14 North 83 degrees 58 minutes 52 seconds West 196 49 feet,
15 South 82 degrees 36 minutes 11 seconds West 154 19 feet,
16 North 62 degrees 09 minutes 45 seconds West 166 50 feet,
17 North 24 degrees 38 minutes 40 seconds East 81 08 feet,
18 North 44 degrees 26 minutes 10 seconds East 102 17 feet,
19 North 70 degrees 47 minutes 22 seconds West 132 85 feet
20 North 56 degrees 54 minutes 56 seconds West 112 48 feet,
21 North 07 degrees 57 minutes 43 seconds East 180 49 feet,
22 North 43 degrees 45 minutes 37 seconds East 74 22 feet,
23 North 31 degrees 35 minutes 30 seconds East 220 38 feet,
24 North 64 degrees 02 minutes 55 seconds East 62 98 feet,
25 North 03 degrees 54 minutes 38 seconds West 97 44 feet,
26 North 20 degrees 21 minutes 58 seconds East 222 29 feet,
27 North 45 degrees 23 minutes 33 seconds East 150 10 feet,
28 North 39 degrees 28 minutes 31 seconds East 96 18 feet,
29 North 18 degrees 28 minutes 38 seconds West 15490 feet,
30 North 58 degrees 02 minutes 15 seconds West 116 12 feet,
31 North 42 degrees 51 minutes 30 seconds West 303 10 feet,
32 North 79 degrees 56 minutes 52 seconds West 53 17 feet,
33 South 76 degrees 20 minutes 28 seconds West 118 12 feet,
34 North 38 degrees 58 minutes 17 seconds West 299 39 feet,
35 North 07 degrees 47 minutes 00 seconds West 229 65 feet,
36 North 65 degrees 08 minutes 55 seconds West 437 71 feet,
37 South 73 degrees 44 minutes 34 seconds West 652 78 feet,
38 North 22 degrees 43 minutes 38 seconds West 89 12 feet,
39 North 79 degrees 00 minutes 47 seconds West 76 25 feet,
40 North 74 degrees 28 minutes 13 seconds West 104 73 feet,
41 North 34 degrees 43 minutes 23 seconds West 232 66 feet,
42 North 08 degrees 36 minutes 19 seconds West 226 13 feet,
43 North 02 degrees 05 minutes 49 seconds East 135 26 feet,
44 North 46 degrees 12 minutes 59 seconds West 125 69 feet,
45 North 03 degrees 24 minutes 10 seconds West 274 48 feet,
46 North 02 degrees 05 minutes 25 seconds West 100 49 feet,
47 North 41 degrees 02 minutes 20 seconds East 164 76 feet,
48 North 23 degrees 54 minutes 42 seconds West 60 76 feet,
49 North 77 degrees 48 minutes 56 seconds West 109 53 feet
50 North 41 degrees 44 minutes 59 seconds West 174 18 feet,
51 North 74 degrees 09 minutes 58 seconds West 139 32 feet,
52 North 17 degrees 02 minutes 49 seconds West 152 60 feet,
53 North 56 degrees 36 minutes 53 seconds West 104 88 feet,
54 North 07 degrees 03 minutes 35 seconds East 197 61 feet to a corner on the south line of the M Forrest
Survey and the north line of the G Walker Survey and being the northeast corner of a tract deeded to
Frederick A Beardsley recorded in Volume 1054, Page 889, Deed Records of Denton County, Texas
SEE CONTINUATION SHEET, SCHEDULE A, ATTACHED HERETO AND MADE A PART HEREOF FOR ALL
PURPOSES
GF NO 96-4161 DN/KP
OTP NO 439834 O ISSUED W/MTP NO NONE
SCHEDULE A
CONTINUED
THENCE North 88 degrees 16 minutes 00 seconds West along and near a fence, with the south line of said Callahan
tract and the north line of said tract and being the south line of the M Forrest Survey and the North line of the G
Walker Survey, a distance of 324 63 feet to a 1 /2 Inch Iron rod set for corner,
THENCE North 38 degrees 14 minutes 17 seconds East a distance of 54 95 feet to a 1 /2 inch iron rod set for corner,
THENCE North 11 degrees 30 minutes 21 seconds East a distance of 101 50 feet to a 1/2 inch Iron rod set for
corner,
THENCE North 34 degrees 37 minutes 59 seconds West a distance of 165 83 feet to a 1 /2 inch iron rod set for
corner,
THENCE North 83 degrees 18 minutes 02 seconds West a distance of 159 50 feet to a 1 /2 inch iron rod set for
corner,
THENCE South 84 degrees 28 minutes 38 seconds West a distance of 245 59 feet to a 1 /2 inch iron rod set for
corner,
THENCE North 73 degrees 28 minutes 49 seconds West a distance of 155 28 feet to a 1 /2 inch iron rod set for
corner,
THENCE South 71 degrees 20 minutes 05 seconds West a distance of 145 34 feet to a 1 /2 inch iron rod set for
corner,
THENCE North 47 degrees 37 minutes 34 seconds West a distance of 579 63 feet to a 1 /2 inch iron rod set for
corner,
THENCE South 75 degrees 47 minutes 15 seconds West a distance of 262 16 feet to the Point of Beginning and
Containing in all 245 00 acres of land
NOTE The Company is prohibited from insuring the area or quantity of the land described herein Any statement
in the above legal description of the area or quantity of land is not a representation that such area or quantity is
correct, but Is made only for informational and/or identification purposes and does not override Item 2 of Schedule
B hereof
GF NO 96-4161DN/KP
OTP NO 439834 0 ISSUED W/MTP NO NONE
SCHEDULE B
EXCEPTIONS FROM COVERAGE
THIS POLICY DOES NOT INSURE AGAINST LOSS OR DAMAGE (AND THE COMPANY WILL NOT PAY COSTS
ATTORNEY'S FEES OR EXPENSES) THAT ARISE BY REASON OF THE TERMS AND CONDITIONS OF THE LEASES
OR EASEMENTS INSURED, IF ANY, SHOWN IN SCHEDULE A AND THE FOLLOWING MATTERS
1
2 ANY REPANCIES, 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 MEAN LOW TIDE TO THE LINE OF VEGETATION,
OR THE RIGHTS OF ACCESS TO THAT AREA OR EASEMENT ALONG AND ACROSS THAT AREA
STANDBY FEES, TAXES AND ASSESSMENTS BY ANY TAXING AUTHORITY FOR THE YEAR 1997 AND
SUBSEQUENT YEARS, AND SUBSEQUENT TAXES AND ASSESSMENTS FOR PRIOR YEARS DUE TO
CHANGE IN LAND USAGE OR OWNERSHIP
6 THE FOLLOWING MATTERS AND ALLTERMS OF THE DOCUMENTS CREATING OR OFFERING EVIDENCE
OF THE MATTERS (WE MUST INSERT MATTERS OR DELETE THIS EXCEPTION)
SEE CONTINUATION SHEET, SCHEDULE B, ATTACHED HERETO AND MADE A PART HEREOF FOR ALL
PURPOSES
GF NO 96-4161DN/KP
OTP NO 4398340 ISSUED W/MTP NO NONE
SCHEDULE B
CONTINUATION
Rights of parties in possession, rights of tenants in possession, under any unrecorded lease or rental
agreements
8 Visible and apparent easements over and across said property, the existence of which do not appear of
record