HomeMy WebLinkAbout1994-196Et\NPDOCS\ORD\E%CHANGE.PRO
ORDINANCE NO. 9ZI 196
AN ORDINANCE OF THE CITY OF DENTON, TEXAS, APPROVING A CONTRACT
PROVIDING FOR THE EXCHANGE OF CERTAIN REAL ESTATE OWNED BY THE
CITY OF DENTON AND TOM FOUTS; AND PROVIDING FOR AN EFFECTIVE
DATE.
WHEREAS, the City of Denton, in accordance with the
requirements of TEX. LOC. GOV'T CODE ANN. §272.001 (Vernon 1988),
has advertised that for the exchange of a certain tract of real
property for another tract of real property located adjacent to
the intersection of Spencer and Ruddell Roads; and
WHEREAS, the City Manager having recommended to the City
Council that the said exchange of land be approved; and
WHEREAS, in accordance with Sec. 12.04 of the City Charter,
the Council hereby finds that the property described above is not
essential to continued effective utility service; NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION I. That the City Council of the City of Denton,
Texas, approves the contract between the City of Denton and Tom
Fouts providing for the exchange of real property described in
the contract, a copy of which is attached hereto as Exhibit "A"
and incorporated by reference herein.
SECTION II. That the City Council hereby authorizes the
Mayor and City Manager to execute any and all documents necessary
to consummate the exchange of real property in accordance with
the contract, and the expenditure of funds incidental to said
exchange.
SECTION III. That this ordinance shall become effective
immediately upon its passage and approval. �� ,(
PASSED AND APPROVED this the day of ( /`�64A& _. ,
1994.
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
BY:
APPROVED A TO LEGAL FORM:
DEBRA A. DRAYOVITCH, CITY ATTORNEY
BY:
PAGE 2
EXCHANGE CONTRACT
STATE OF TEXAS
COUNTY OF DENTON
THIS EXCHANGE CONTRACT (hereinafter "Contract") is made as 00
the effective date by and between 7eCrAno Re^1+v.1 n�. F�
(hereinafter referred to as "Purchaser") and CITY OF D ON, TEXAS,
a home rule municipality, of Denton, Denton County, Texas,
(hereinafter referred to as "City"), upon the terms and conditions
set forth herein.
EXCHANGE AGREEMENT
WHEREAS, Purchaser owns that certain tract of land situated in
Denton County, Texas, and being more particularly described in
Exhibit A ("Tract A") attached hereto and incorporated herein for
all purposes; and
WHEREAS, City owns that certain tract of land situated in
Denton County, Texas and being more particularly described in
Exhibit B ("Tract B") attached hereto and incorporated herein for
all purposes; and
WHEREAS, Purchaser wishes to acquire Tract B; and
WHEREAS, City is willing to convey Tract B upon the terms and
conditions contained herein;
NOW, THEREFORE, for and in consideration of the sum of Ten and
no/100 Dollars ($10.00) in cash to each paid in hand by the other,
the receipt and sufficiency of which is hereby acknowledged and
confessed, and of the mutual agreements contained herein, Purchaser
and City hereby agree as follows:
1. Exchange Agreement
Upon the terms and conditions contained herein, Purchaser
agrees to convey Tract Akto City, and City agrees to convey
Tract B to Purchaser.
2.
A. Between the effective date and the closing date,
Purchaser agrees that Purchaser will not through affirma-
tive actions taken after the effective date create any
additional encumbrance affecting Tract A without the
express prior written consent of City. City agrees that
City will not withhold consent to a proposed additional
encumbrance affecting Tract A if such proposed additional
encumbrance has no material, adverse effect upon the value,
development, or use of Tract A. If Purchaser through
affirmative actions taken after the effective date does
create any additional encumbrance affecting Tract A without
the express prior written consent of City, Purchaser shall
be required to remove any such additional encumbrance at
Purchaser's sole cost and expense prior to or at the
Closing.
B. Between the effective date and the closing date, City
agrees that City will not through affirmative actions taken
after the effective date create any additional encumbrance
affecting Tract B without the express prior written consent
of Purchaser. Purchaser agrees that Purchaser will not
withhold consent to a proposed additional encumbrance
affecting Tract B if such proposed additional encumbrance
has no material, adverse effect upon value, development, or
use of Tract B. If City through affirmative actions taken
after the effective date does create any additional
encumbrance affecting Tract B without the express prior
written consent of Purchaser, City shall be required to
remove any such additional encumbrance at City's sole cost
and expense prior to or at the time of Closing.
Closing Date.
The closing shall be held at the office of Southwest �,j.>;le
Company, Denton, Texas, on or before p Deb 19 144�IkK,/or
at such time, date, and place as City and Purchaser may
mutually .agree upon (which date is herein referred to as
the "closing date").
4. Delivery of Deeds Easement Agreement and Possession.
A. At the Closing, Purchaser shall: (i) execute, acknowl-
edge and deliver to City a General Warranty Deed conveying
Tract A to City (the "Purchaser Deed"); (ii) deliver
possession of Tract A to City; and (iii) pay City Dollars
in cash.
PAGE 2
B. At the Closing, City shall: (i) execute, acknowledge,'
and deliver to Purchaser a Special Warranty Deed conveying
Tract B to Purchaser (the "City Deed"); and (ii) deliver
possession of Tract B to Purchaser.
C. At the Closing, Purchaser and City shall execute,
acknowledge, and deliver, each to the other, that certain
Easement Agreement (herein so called) whereby Purchaser
grants to City an easement over and across land owned by
Purchaser, such easement to be for the benefit of Tract A.
5. Property Tax Liability.
A. Purchaser hereby Agrees that Purchaser will pay all
1994 property taxes levied or assessed against Tract A.
B. The provisions of this paragraph 5 shall survive the
Closing and the delivery of the Purchaser Deed and the City
Deed.
6. Closing Costs.
A. Purchaser will pay the filing fees for the City Deed,
and City will pay the filing fees for the Purchaser Deed.
B. If Purchaser desires to obtain a title insurance policy
covering Tract B, Purchaser shall pay the premium therefor.
If City wishes to obtain a title insurance policy covering
Tract A, City shall pay the premium therefor. If only one
party desires such title insurance, that party may select
the title company. If both parties desire title insurance,
then it is agreed that the title insurance company shall be
Southwest Title Company.
C. If there are any closing costs not allocated to
Purchaser or City herein, such closing costs shall be paid
by the party incurring same.
7. Inspection of Property.
A. For a period of thirty (30) days after the effective
date, Purchaser agrees to allow City to enter upon Tract A
for the purpose of inspecting the same, and for the purpose
of conducting such environmental tests, feasibility
studies, and other tests or studies the City deems advis-
able. If City, in City's sole discretion, is not satisfied
with such inspections, tests or studies, City may terminate
this Contract by giving written notice of termination to
Purchaser on or before thirty (30) days after the effective
date. In the event City terminates this Contract pursuant
to this paragraph 7, City agrees to restore Tract A
substantially to its condition prior to City's entry.
PAGE 3
B. For a period of thirty (30) days after the effective
date, City agrees to allow Purchaser to enter upon Tract B
for the purpose of inspecting the same. If Purchaser, in
Purchaser's sole discretion, is not satisfied with such
inspections, Purchaser may terminate this Contract by
giving written notice of termination to City on or before
thirty (30) days after the effective date. In the event
Purchaser terminates this Contract pursuant to this
paragraph 7, Purchaser agrees to restore Tract A substan-
tially to its condition prior to Purchaser's entry.
8. Representations and Warranties.
A. Purchaser represents there are no toxic or hazardous
wastes or materials on or within Tract A. 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 Environmental Response
Compensation and Liability Act (CERCLA), as amended.
B. With respect to Tract A, the City of Denton assumes the
risk of and agrees to indemnify and hold Purchaser harm-
less, and to defend Purchaser 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, Purchaser or any third party), or causing
property damage or destruction of whatsoever nature or
contamination to the environment (including without
limitation property of the City of Denton or Purchaser, or
property in its or their care, custody, or control, and
third party property), arising out of acts, omissions or
events occurring after Closing.
C. With respect to Tract A, Purchaser 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 (including without
limitation court costs and attorney fees), or demands of
whatsoever nature or source for any defects or Environ-
mental Problems, latent or obvious, discovered or undiscov-
ered, in the real and chattel property to be conveyed
hereunder, causing personal injury to or death of persons
whomsoever (including without limitation employees, agents
or contractors of Seller, the City of Denton or any third
party), or causing property damage or destruction of
whatsoever nature or contamination to the environment
(including without limitation property of Purchaser or the
PAGE 4
City of Denton, or property in its or their care, custody,
or control, and third party property), arising out of acts,
omissions or events occurring before Closing.
D. With respect to Tract B, the Purchaser assumes the risk
of and agrees to indemnify and hold Purchaser harmless, and
to defend Purchaser 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 personal
injury to or death of persons whomsoever (including without
limitation employees, agents or contractors of the City of
Denton, Purchaser or any third party), or causing property
damage or destruction of whatsoever nature or contamination
to the environment (including without limitation property
of the City of Denton or Purchaser, or property in its or
their care, custody, or control, and third party property),
arising out of acts, omissions or events occurring after
Closing.
E. With respect to Tract B, the City of Denton 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 (including without
limitation court costs and attorney fees), or demands of
whatsoever nature or source for any defects or Environ-
mental Problems, latent or obvious, discovered or undiscov-
ered, in the real and chattel property to be conveyed
hereunder, causing personal injury to or death of persons
whomsoever (including without limitation employees, agents
or contractors of Seller, the City of Denton or any third
party), or causing property damage or destruction of
whatsoever nature or contamination to the environment
(including without limitation property of Purchaser or the
City of Denton, or property in its or their care, custody,
or control, and third party property), arising out of acts,
omissions or events occurring before Closing.
"Environmental Problems" means any cause or action under
the federal Comprehensive Environmental Response Compensa-
tion 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.
9. Authority.
A. Within fifteen (15) days after the effective date, City
agrees to furnish to Purchaser, and if necessary, Purchas-
PAGE 5
er's Title Company, written evidence of the authority of
the party(s) executing this Contract on behalf of the City.
City agrees to furnish to Purchaser, and if necessary,
Purchaser's Title Company, at or prior to the Closing
written evidence of the authority of the party(s) executing
the City Deed on behalf of the City.
B. Within fifteen (15) days after the effective date,
Purchaser agrees to furnish to City, and if necessary,
City's Title Company, written evidence of the authority of
the party(s) executing this Contract on behalf of Purchas-
er. Purchaser agrees to furnish to City, and if necessary,
City's Title Company, at or prior to the Closing written
evidence of the authority of the party(s) executing the
Purchaser Deed on behalf Purchaser. ,
10. No Commissions.
Purchaser and City warrant and represent to each other that
no real estate brokers', agents', or finders' fees or
commissions are due arising in connection with the exchange
of Tract A for Tract B, from the execution of this Contract
or from the consummation of the transactions contemplated
herein, and each party hereto hereby agrees to indemnify
and hold the other party harmless from claims made by any
person for any such fees, commissions or like compensation
claiming to have dealt with the party so indemnifying the
other.
PAGE 6
11. Remedies.
If Purchaser breaches any of the agreements of Purchaser
contained in this Contract and such breach is not cured
within fifteen (15) days after City has delivered written
notice thereof to Purchaser, City at City's election may
either terminate this Contact; or seek all other remedies
set forth in this Contract or available at law, in equity,
or by statute, including specific performance; provided,
however, if Purchaser is unable to deliver title to Tract
A free and clear of any encumbrances, City's only remedy
shall be termination of this Contract unless the encum-
brance in question is an encumbrance created after the
effective date by the affirmative actions of Purchaser tc
which City did not consent in writing, in which event City
shall be entitled to exercise all of the remedies set forth
hereinabove.
If City breaches any of the agreements of City contained in
this Contract and such breach is not cured within fifteen
(15) days after Purchaser has delivered written notice
thereof to City, Purchaser at Purchaser's election may
either terminate this Contract; or seek all remedies set
forth in this Contract or available at law, in equity or by
statute, including specific performance; provided, however,
if City is unable to deliver title to Tract B free and
clear of any encumbrances, Purchaser's only remedy shall be
termination of this Contract unless the encumbrance in
question is an encumbrance created after the effective date
by the affirmative actions of City to which Purchaser did
not consent in writing, in which event Purchaser shall be
entitled to exercise all of the remedies set forth herein -
above.
12. Attorney's Fees.
Should either party to this Contract commence legal
proceedings against the other to enforce the terms and
provisions of this Contract, the party losing in such legal
proceedings shall pay the attorney's fees and expenses of
the party prevailing in such legal proceedings.
13. Time of Essence.
Time is important to both Purchaser and City in the
performance of this Contract and they have agreed that
strict compliance is required as to any date set forth
herein. If the final date of any period which is set forth
in any term or provision of this Contract falls upon a
Saturday, Sunday, or legal holiday under the laws of the
United States or the State of Texas, then, and in such
event, the time of such period shall be extended to the
next day which is not a Saturday, Sunday, or legal holiday.
PAGE 7
14. Notices.
Any notice required or desired to be given to either party
hereto shall be deemed to be delivered (i) on the date of
delivery, if hand delivered, (ii) one (1) day after
sending, if sent by overnight courier, or (iii) if sent by
mail, the day the same is posted in a U.S. mail receptacle,
postage prepaid, certified mail, return receipt requested,
to the address of the applicable party set out above such
party's signature hereinbelow. Either party hereto may
change such party's address for notice, but until written
notice of such change of address is actually received by
the other party, the last address of such party designated
for notice shall remain such party's address for notice.
15. Severabilit
If any term or provision of this Contract is held to be
illegal, invalid, or unenforceable, the legality, validity,
and enforceability of the remaining terms and provisions of
this Contract shall not be affected thereby, and in lieu of
each such illegal, invalid, or unenforceable term or
provision there shall be added automatically to this
Contract a legal, valid, and enforceable term or provision
as similar as possible to the term or provision declared
illegal, invalid, or enforceable.
16. Waiver.
Either Purchaser or City shall have the right to waive any
requirement contained in this Contract, which is intended
for the waiving party's benefit, but, except as otherwise
specifically provided herein, such waiver shall be effect-
ive only if in writing executed by the party for whose
benefit such requirement is intended.
17. Cumulative Rights and Remedies%
Except as specifically limited herein, no right or remedy
set forth in this Contract is intended to be exclusive of
any other, right or remedy set forth in this Contract or by
law provided, but each shall be cumulative and in addition
to every other right or remedy set forth in this Contract
or now or hereafter existing at law or in equity or by
statue.
18. Captions.
The captions used in connection with the articles and
sections of this Contract are for convenience only and
shall not be deemed to expand or limit the meaning of the
language of this Contract.
PAGE 8
19. Use of Lan4uaae.
Words of any gender used in this Contract shall be held and
construed to include any other gender, and words in the
singular shall be held to include the plural, unless the
context otherwise requires.
20. Exhibits.
All exhibits, attachments, annexed instruments, and addenda
referred to herein shall be considered a part hereof for
all purposes with the same force and effect as if copied
verbatim wherever reference is made to same.
21. No representations or Warranties.
Except for the special warranty of title contained in the
City Deed, Purchaser hereby acknowledges that City has not
made any representations or warranties to Purchaser with
respect to the suitability of Tract B for any intended use,
the condition of Tract B (including soil and sub -soil
conditions), the appreciation or income potential of Tract
B, the zoning of Tract B, the platting of Tract B, avail-
ability of utilities to Tract B, access to Tract B,
requirements in connection with any development of Tract B,
or any other matter whatsoever. Purchaser further acknowl-
edges and agrees that Purchaser has investigated all
matters of concern to Purchaser with respect to Tract B
prior to the effective date and that Purchaser is not
relying on any representation or warranty from the City
with respect to such matters except for the special
warranty of title contained in the City Deed.
22. Entire Agreement.
This Contract embodies the entire agreement between
Purchaser and City with respect to the subject matter
hereof and supersedes all prior agreements whether written
or oral.
23. Amendment.
Except as otherwise specifically provided herein, this
Contract may not be amended, varied, or terminated except
by an agreement in writing executed by both Purchaser and
City.
24. Binding Effect.
Except as otherwise provided herein, this Contract shall be
binding upon and inure to the benefit of Purchaser and City
and their respective successors and assigns.
PAGE 9
25. Effective Date.
The effective date of this Contract shall be the latest
date either party signs this Contract.
EXECUTED by Purchaser and City as of the effective date.
PURCHASER:
Address:
CITY:
CITY OF DENTON
Address: 215 E. McKinney
Der`--
By:
By
Title:
Ti'
By:
By
Title:
Ti
STATE OF TEXAS
COUNTY OF DENTON
This instrument was acknowledged before me on
by
STATE OF TEXAS
COUNTY OF DENTON
This instrument was
00O00000000000
ROGER N. WILKINSON
'•a Notary Public, State of Texas
� My commission Expires 04-90.1998
OOOS� T00pEp00OpF000=000 00
TEXAS
COUNTY OF DENTON
NOTARY PUBLIC IN AND FOR TEXAS
ed before me on
%le%X ry, AIQyoll
FOR
This. instrument is acknowledged
before me,
the
on
by LLOYD V.
HARRELL, City
Manager, of
the
City of Denton,'
PAGE 10
a municipal corporation, known to me to be the person and officer
whose name is subscribed to the foregoing instrument and acknowl-
edged 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 purpose and consideration therein expressed, and in
the capacity therein stated.
OZ.'
`{ OTA , ELIIABETH J. WILLIAMS
I' 1 i W COMMISSION EXPIRES
6.54 r May 16,1997 P� AND FOR TEXAS
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
B9OVED2/AS
A TO LEGAL FORM:
DEBRA A. DRAYOVITCH, CITY ATTORNEY
BY:
PAGE 11
EF.7(10-91)
GF# 94F 354010
WAIVER OF INSPECTION
Procedural Rule P-3 of the Basic Manual of Rules, Rates, and Forms
for the writing of title insurance in the State of Texas allows the Title Company
to make a general exception in insuring forms as to "Rights of Parties in
Possession on condition that the Insured executes a written instrument waiving
an inspection of the property to be insured.
Pursuant thereto, the undersigned waives inspection of the property
being insured by title insurance in the above file and further states that the
undersigned is satisfied to accept the policy subject to such general exception.
EXECUTED this -1&tk fd/da"yy of October 199 4 .
r=IBIT "a•
or Numbers r-354018-C
ing
Ail that count of tDoatoaCtstateparcel
Of Tenaa, andlying
being Part Of tu Of the Mary Austin
city and bstrac
Survey, abstract No. 4 and being Dart of Lot i, Block 1 and Part Of Lot 11
Block 2 of the Municipal utility Addition, an addition to the City and County
of Denton,
ntty, TOMS and more partieularlysge 346 of the Plat cord■ o! Denton
described an follows=
County,
COMMNCIN(f at the northwest corner of said Lot 1, Block 1s
lime ofsaid02 degrees 13 minutest3anceeofa110�27talong t
leettothehe want boundary
Is
POINT Or
BzQxW INO. said point being the southwest corner of a drainage and utility
easement as shown on said plat)
THENCS..north 88 degrees 12 minutes 27 seconds East,
Ecr*long
said
easement Routh
boundary line a distance of 149.37 foot to a Point
TSSNCS south 57 degrees 16 minutes 37 seconds Salt, continuing along said
easement south boundary
a of & distancid Lot i3Of 824.6ck 1S foot to a Point for a corner
in the east boundary a
TNSNCS Booth 0 degrees 00 minutes 00 seconds Last, along the east boundary
line of said Lot 1, Block 1, passing at 394.04 feet the southeast
of taMarge Road,
said Lot 1, Block 1, same being the north righo! MowrssYi Road, same being the
continuing end passing the south right -of -May
bong the $&at
oundary linener of Of ■aidaid Lot 11 Lot 1, Block 2), altotalidistance Of11137.91 feet to a
boundary
point for corner)
TSINCri South 88 degrees 05 minutes 58 seconds west, a distance of 8Lot 1 £set 1,
to a point for a corner, said point being a salient corner of said Lot
Block''2, said point also being the easterly Southeast cornerof & tract
Denton County,
described in volume 2124, Page 775, Real Property Records'
Texan
TasNCi North 0 degress 36 minutes 10 sscoads Last, along the
vast boundae of maid act
Tine of said Lot 1, Block 2, same being the east boundary
described in Volume 2124, Page 775 PBlock2,r., passing St l
Name being the ■outhrightlof-wey of
northwest corner of said Lot 1,
Morse Road, cant
inuing and passing the north right-cf-veY of Morse Rand' same
being the southesstcorner of oP said Lot said
deLot
1, slack
1, dieta:yceio! na 1572a24nt the
want boundary
point for s corner) too 34
s Zest,
ng
boundary line 0o£degrees
aid so131AiHi0ok i` aedinidtance of 35.55nfoot too the Placethe sof
beginning and containing 27.7482 Sores Of land, more or long.
EXHIBIT "A", SOLO PAGE
i ll:l
I I.
u'h
LANDMAR
FIELD NOTES
SURVEYORS, Y NC. TRACT II
1.114 ACRES
:.I
BEING all that certain lot, tract, or parcel of land silo
Survey Abstract Number 4, in the City and County,of l
of that certain "Tract B" described in a deed from,`
Jewell M. Parham, recorded, in Volume 832, Page;
County, Texas, and being more particularly describod;
COMMENCING at an iron rod found for corner in the,
a public'roedway and in the south line of Spencer Roo
THENCE along the arc of a curve to the right, having
38 , a radius of 470.09, an are length of 308.58 feet,.wN
02' 36" t, 303.07 feet with said south line of said 51b
found fo'r corner;
, "
THENC S 530 42' 41" E,197.70 feet with said soutt4111
rod set for PLACE OF BEGINNING;
THENCE S 53° 42' 41" E, 624.48 feet with said sout
rod foO.d for corner, said point being the northwest
land described in Volume 478, Page 175. Deed Recc
THENCE S 180 03' 24" W, 4$.83 feet to an iron rod
line of all50.0 foot railroad right-of-way;
THENCO along the arc of a curve to the left, having
a radius of 2815.03, an arc length of 200,00 feet„v
05" W, 199.96 feet with said 'north line of said railrt
corner;
THEN" N 620 06' 37" W, 409,42 feet with said ni
way to an iron rod set for corner In said east line of
THENC N 200 08' 39" E,:125.10 feet to the
containi g 1.114 acres of land, more or less.
42381.35 North
Denton, Texos 76207-3408
(817) 382-4016
Fax (817) 387-9784
ad',in the Mary L. Austin
htph, Texas, being a part
as! Land Development to
Geed Records, Denton
follows:
i.
st line of Woodrow Lane,
is 06blic roadway;
I
a central angle of 37° 36"
ose'chord bears south 690
ncbr Road to an Iron rod
i
of said Road to an Iron
i
of said Road to an iron
r'of that certain tract of
)enton County, Texas;
in'dj for corner in the north
EXHIBIT "B", PAGE ONE OF TWO
i ;
angle of 04° 04' 15",
ord bears N 58° 16
.of -way to a point for
said railroad right-of-
Irow Lane;
OF BEGINNING and
ANDMA
SURVEYgRS, l NC.
FIELD NOTES
TRACT i
9,566 ACRES
BEING all that certain lot, tract, or parcel of land,sl�
Survey Abstract Number 4, in the City and County' of }
of that certain Tract C described in a deed from !;
Jewell M. Parham, recorded in Volume 832, Page;
County,. Texas, being also a part of that certain "TNi
832, Page 79, Deed Records, Denton County, Tex�il
certain (called) 0.3031 acre tract of land described
t
the City of Denton, Texas, recorded In Volume 156
Denton:.County Texas, and being more particularly di
COMMtNCING at an iron roil found for corner in th6'
a publlii roadway and in the'north line of Spencer FCC
point being the southwest corner of said "Tract C"; li
THENCE N 000 02' 25" E, 271.47 feet with the east �I
an iron rod set for corner, in the south line of a 30.0 t�
in Volume 407, Page 472. D;ed Records, Denton Co
THENCE N 880 20' 46" E, a42.36 feet with saids
easem®nt to an iron rod set fpr PLACE OF BEGINNI,
THENCE N 88° 20' 46' E, 565.64 feet with said sq
easement to an iron rod set of comer, said point boii
1, Block 2, Municipal Utility Addition, an addition tl
County, Texas, according to the plat thereof recorq
Plat Records, Denton County, Texas;
THENCE S 040 23' 39 W, 52.05 feet with the we
rod set for corner in said noh line of said Spencer, F
THENCE N 53° 42' 41" W. 715,25 feet with said nc
rod set for corner;
THENCE N 090 22' 02" E, 516.49 feet to the
containing 9.565 acres of land more or less'.
42381-35 North
Denton, Texas 76207-3408
(817) 382-4016
Fax (817) 387-9784
'in the Mary L. Austin
in, Texas, being a part
Land Development to
ieed Records, Denton
" described in Volume
J being a part of that
linance No. 84-175 by
e 428, Deed Records,
'id as follows:
14t line of Woodrow L
I, is public roadway, said
of said Woodrow Lane to
road easement described
y,ITexas;
line of said 30 foot road
,e of said 30 foot road
northwest comer of Lot
)ity of Denton, t)onton
Cabinet G. page, 346,
of said Lot 1 to an iron
of said Road to an iron
OF BEOINNING and
EXHIBIT "Ai" , PAGE TWO OF TWO
Terrano To City of Denton
OMB No. 2502-0265 (Exp. 12-31.86)
A. U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
SETTLEMENT STATEMENT
®,�� southwest land l/r16 Co_
-�
a. TYPE OF LOAN
1. ❑ FHA 2. ❑ FMHA 3.
4. ❑ VA 5. ❑ CONY INS.
❑ CONV. UNINS.
6. FILE NUMBER: 7. LOAN NUMBER:
6. MORTGAGE INS. CASE NO.:
C. NOTE: This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent
are shown. Items marked "(p.o.c.)" were paid outside the closing; they are shown here for informational purposes and
are not included in the totals.
D. NAME OF BORROWER: CITY OF DENTON TEXAS
ADDRESS OF BORROWER: 215 E . McKinney
Denton TX 76201
E. NAME OF SELLER: TERRANO REALTY, INC.
ADDRESS OF SELLER: 1303 Campbell Rd.
Houston, TX 77055
F. NAME OF LENDER:
ADDRESS OF LENDER:
G. PROPERTY Tract I: 1.114 acres; Tract II: 9.565 acres,
LOCATION: Mary L. Austin Survey, Abst. No. 4, Denton,
Denton Count Texas
H. SETTLEMENT AGENT:'', SOUTHWEST LAND TITLE CO.
PLACE OF SETTLEMENT: 4230 LBJ Fwy., Suite 1�1
Dallas TX 75244
I. SETTLEMENT DATE: October 19 1994
J. SUMMARY OF BORROWER'S TRANSACTION
K. SUMMARY OF SELLER'S TRANSACTION
100. GROSS AMOUNT DUE FROM BORROWER:
400.
GROSS AMOUNT DUE TO SELLER:
101. Contract sales price'
%� p
401.
Contract sales price
103. Settlement charges to borrower (Line 1400)
403
Reserves transferred
104.
404,
105,
405.
Adjustments for items paid by seller in advance:
Adjustments for items paid by seller in advance:
106. School I City, town tax to
406.
School I City, town tax to
107. State I Coun tax to
407.
State I County tax to
108. School tax to
408.
Schooltax to
109. Proration (Rent, Tax, Ins,)
409.
Proration Rent, Tax, Ins.
110. Assessments
410,
Assessments
ill,
411,
120. GROSS AMOUNT DUE FROM BORROWER:
r%L.
420.
GROSS AMOUNT DUE TO SELLER:
[�
200, AMOUNTS PAID BY OR IN BEHALF OF
BORROWER:
500.
REDUCTIONS IN AMOUNT DUE
TO SELLER:
201. Deposit or earnest money
502.
Settlement charges to seller Line 1400
O
202. Principal amount of new loans
503.
EXIS11n loans taken subject to
203. Existing loans taken subject to
504.
Payoff to first mortgage loan
204. Settlement cost id b Seller
505.
Payoff of second mart a e loan
205. ', Q„
D
508.
Deposit or eamest mono
206. G
507.
Settlement cost aid for borrower
207.
508
O
208.
509.
61G
Adjustments for items unpaid by seller
Adjustments for items unpaid by seller
210. School/ City, town tax to
510.
School I City, town tax to
211. State I County tax to
511.
State I County tax to
213. School tax to
513.
School tax to
214. All Taxes to
514.
All Taxes to
215.
515.
216.
SIB.
220. TOTAL PAID BY I FOR BORROWER
all %�D
520.
TOTAL REDUCTION AMOUNT DUE
SELLER
g� 79G D
1
300. CASH AT SETTLEMENT FROM I
TO BORROWER
600.
CASH
CASH AT SETTLEMENT TO I FROM SELLER
301. Gross amount due from
borrower (Lhv-f2
/
n0) �� tr /C- D /
601.
Gross amount due to seller (line 420)
�1
302, Less amounts paid by I for borrower (We 220)
��� �%� D
602.
Less reductions in amount due seller (Line 520)
(�� �% 9L• D
303. CASH ( OM)'(❑ BORROWER
PeLe;,
�, 0
603.
CASH [I►J TO) ( FROM) SELLER
CoGo2'J.O O
Southwest Land Title Co., acting as Escrow Agent, has assembled on this Statement, Information and figures representing your transaction as understood by
it. It is the responsibility of the Escrow Agent to make such settlement as agreed to by all parties to this transaction. Tax proration have been based on figures for the preceding
year, or estimates for the current year, and in the event of change of taxes for the current year, all necessary adjustments must be made between Seller and Purchaser and / or
Borrower and Lender, with the understanding that Southwest Land Title Co. will not be liable for any adjustments. In the event a Real Estate Agent negotiated this transaction.
or In the event a loan Is involved, such agent and lender may be furnished a copy of this statement. If the foregoing statement is satisfactory to you, please signify your approval,
and authorization of oavmams and recelol ofa coov hereof, by sionina vour name In the space provided.
Previous Edition IS Obsolete HUD-1 (3.86)
RESPA, HE 4305.2
Terrano to City of Denton
L. Settlement Charges
700. Total Sales / Broker's Commission based on price $ ® Paid From Paid From
Division of Commission (line 700) as follows: Borrower's Seller's
701. $ to Funds at Funds at
Settlement Settlement
703. Commission paid at Settlement
704
801,
Loan Origination Fee
°/ato
802.
Loan Discount
%to
803.
Appraisal Fee
to
804.
Credit Report
to
805.
Lender's Inspection Fee
to
808.
Amortization Schedule
to
810.
Photos
to
811.
Warehouse Fee
to
812.
Tax Research Fee
to
813.
Mortgage Application Fee
to
814.
815.
816.
R17
900. Items Required By Lender To Be Paid In Advance
901. Interest from to ®$ / de
902. Mortgage Insurance Premium for months to
903. Hazard Insurance Premium for ears to
905.
r uuu.
1001.
noaa.raa v
Hazard Insurance
months®$
----
1002.
Mortgage Insurance
months®$
1003.
City/school propertytaxes
months*$1004,
2er
Mmonth
Count props taxes
months®$
1005.
Annual assessments
months®$1007.
months®$
1nnR
i wu. nua ..na�yva
1101. Settlement or closing fee to
- --
1102. Abstract or title search to
1103. Title examination to
1104. Title insurance binder to
1105. Document preparation to Y- •L t e
1107. Attorne 's fees to
(includes above items numbers: 1105
1108. Title insurance to Southwest Land Title Co.
(includes above Items numbers: 1102, 1103
1109, Lender's coverage $
1110. Owner's coverage $ O
fill. Restrictions
1112. Escrow Fee
1113. IRS Reporting Fee
1114.
1115.
1116.
1200. Government Recording and Transfer Charges
1201. Recording fees: Deed $ ; Morta e $ Releases $
C�
19n4- _
rauud nuwum,a, a•a�a
1301. Survey to
__..
1302. Pest Inspection to
1303. Tax Certificates
_
1304. State of Texas Policy Guaranty Fee
1305 Courier / Messenger Fees
1306.
1307.
1308.
1309,
1400. Total Settlement Charges (enter on lines 103, Section J and 502, Section K)
e)
0 D
(F
I have carefully reviewed the HUD-1 Settlement Statement and to 1119 beat of my knowledge and belief, It is a true and accurate statement of all receipts ano
disbursements made on my account or by me In this transactionurther certify that I have received a copy of the HUD-1 Settlement Statement.
CI OF DENT TEXAS/ TERRANO REALTY, INC.
B
Borrow rs L1,dyd V. Harrell, Ci Mananger &Seders John M. McCormack, President
The HUD-1 Settlement Statement which I hav;arg Is a e and ur to accou of this transaction. I have caused or will cause the funds to be disbursed
in accordance with this statement. * E _
gob Castleberry, Ma or
Settlement Agent Date
Warning: it is a crime to knowingly make false statements to the United States this or any other similar form. Penalties upon conviction can include a fine
and imprisonment. For details see: Title 18 U.S. Code Section 1001 and Section 1010. PAGE 2
City of Denton to Terrano OMB No. 2502-0265 (Exp. 12-31-86)
A. U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
SETTLEMENT STATEMENT
49OUt11Wb`St land Tit/e Cn_
B. TYPE OF LOAN
1. ❑ FHA 2. ❑ FMHA 3. ❑ CONY. UNINS.
4. ❑ VA 5. ❑ CONV. INS.
6. FILE NUMBER: 7. LOAN NUMBER:
GF 94F 354018
a. MORTGAGE INS. CASE NO.:
C. NOTE: This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent
are shown, Items marked "(p.o.c.)" were paid outside the closing; they are shown here for informational purposes and
are not included In the totals.
D. NAME OF BORROWER: T RRANO REALTY, INC.
ADDRESS OF BORROWER: 1303 Campbell Rd.
Houston, TX 77055
\
E. NAME OF SELLER: CITY OF DENTON, TEXAS
ADDRESS OF SELLER: 215 E . McKinney
Denton, TX 76201
F. NAME OF LENDER:
ADDRESS OF LENDER:
G.PROPERTY 27.7488 acres, part of the Mary Austin Survey, Abst. No. 4,
LOCATION: and being part of Lot 1, Block 1 and part of Lot 1, Block 2,
Municipal Utility Addition, Denton, Denton County, Texas
H. SETTLEMENT AGENT: SOUTHWEST LAND TITLE CO.
PLACE OF SETTLEMENT: 4230 LBJ Frwy., Suite 121
Dallas TX 75244
I. SETTLEMENT DATE: October 19 1994
J. SUMMARY OF BORROWER'S TRANSACTION
K. SUMMARY OF SELLER'S TRANSACTION
100, GROSS AMOUNT DUE FROM BORROWER:
400, GROSS AMOUNT DUE TO SELLER:
101. Contract sales price
/ V _
401. Contract sales price
9� J O
103. Settlement charges to borrower Line 1400
403 Reserves transferred
104.
404.
105.
405.
Adjustments for items paid by seller in advance:
Adjustments for items paid by seller in advance:
106. School I City, town tax to
406. School/ City, town tax to
107. State I County tax to
407. State / County tax to
108. School tax to
408. School tax to
109. Proration Rent, Tax, Ins.
409. Proration Rent, Tax, Ins.
110. Assessments
410. Assessments
1.
411,
•, 20. GROSS AMOUNT DUE FROM BORROWER:
% G /99 4
420. GROSS AMOUNT DUE TO SELLER:
9� /17/• 6
200. AMOUNTS PAID BY OR IN BEHALF OF
BORROWER:
500. REDUCTIONS IN AMOUNT DUE
TO SELLER:
201. Deposit or earnest money
502. Settlement charges to seller Line 1400
202. Principal amount of new loans
503. Existing loans taken subject to
203. Existing loans taken subject to
504. Payoff to first r a e ban dLedal
204. Settlement cost aid b Seller
505. Pa att
606. Deposit or earnest mono
?
205.
206.
507. Settlement cost at for borrower
207.
508.
S
208.
509•
Adjustments for items unpaid by seller
Adjustments for items unpaid by seller
210. School / City, town tax to
510. School I City, town tax to
211. State l County tax to
511. State l County tax to
213. School tax to
513. School tax to
214. All Taxes to
514. All Taxes to
215.
515.
216,
516.
220. TOTAL PAID BY I FOR BORROWER
�� J' %�
520 EDUCTION AMOUNT DUE
SELLER
/ 1l
300. CASH AT SETTLEMENT FROM I
TO BORROWER
CASH
600, CASH AT SETTLEMENT TO I FROM SELLER
301. Gross amount due from borrower (Line 120)
9a�j �oG % O41
601. Gross amount due to seller (Line 420)
911 `y %1 d
302. Less amounts paid by I for borrower (Line 220)
8/ O t14
602. Less reductions in amount due seller (We 520)
9I AIL, -
303. CASH (10FROM) (❑ TO) BORROWER
�5p%1
A� / 8• ��
603. CASH ( O fO) (❑ FROM) SELLER
91 w/oW, 06;
Southwest Land Title Co., acting as Escrow Agent, has assembled on this Statement, information and figures representing your transaction as understood by
it. It is the responsibility of the Escrow Agent to make such settlement as agreed to by ell parties to this transaction. Tax proration have been based on figures for the preceding
year, or estimates for the current year, and in the event of change of taxes for the current year, all necessary adjustments must be made between Seller and Purchaser and / or
Borrower and Lender, with the understanding that Southwest Lend Title Co. will not be liable for any adjustments. In the event a Real Estate Agent negotiated this transaction,
or in the event a loan is Involved, such agent and lender may be furnished a copy of this statement. If the foregoing statement Is satisfactory to you, please signify your approval,
and authorization of payments and receipt of a copy hereof, by signing your name in the space provided.
Previous Edition Is
HUD-1 (3-86)
RESPA, HE 4305.2
94F 354018 (City of Denton to Terrano)
700. Total Sales / Broker's Commission based on price $ ®
Paid From
Borrower's
Funds at
Settlement
Paid From
Seller's
Funds at
Settlement
Division of Commission (line 700) as follows:
701 $ t0
702 $ to
703. Commission paid at Settlement
Oulu.
801.
Hems rayao,o ui
Loan Origination Fee
.
%to
-
802.
Loan Discount
%to
803.
804.
Appraisal Fee
Credit Report
to
to
805.
Lender's Inspection Fee
to
808.
Amortization Schedule
to
810,
Photos
to
all.
Warehouse Fee
to
812.
Tax Research Fee
to
813.
Mortgage Application Fee
to
814.
815,
816.
A17
900, Items Required By Lender To Be Paid In Advance
901. Interest from to ® $ /day
902. Mortgage Insurance Premium for months to
903. Hazard Insurance Premium for ears to
905.
1 uuu.
1001.
neservea uc wnou .L I C. W1--
Hazard Insurance
months®$
per month
-
1002.
1003.
Mortgage Insurance
City/school property taxes
months®$
months@$
per month
per month
1004.
1005,
County property taxes
Annual assessments
months®$
months®$
per month
per month
1007.
months®$
per month
1 Ann
11 uu. Ilite t.nargen
_
1101. Settlement or closing fee to
1102. Abstract or title search to
1103. Title examination to
1104. Title insurance binder to
Lc P
1105. Document preparation toWY& EL7.
1107. Attorney's fees to
above Items numbers: 1105
_(includes
1108. Title insurance to Southwest Land Title Co.
(Inch":ies above Items numbers: 1102, 1103
1109. Lender's coverage $
1110. Owner's coverage $ D
1111. Restrictions
'
1112. Escrow Fee
1113. IRS Reporting Fee
1115.
1116.
1200. Government Recording and Transfer Charges �'
1201, Recording fees: Deed $ ; Mortgage $ ;Releases
oZ/• O
I Ond _.
13UU. NOaHaJnal
1301. Surve1302.
Pest Inspection1303.
Tax Certificates1304,
State of Texas P1300.
Courle; ! tvinssm
MGuarantyFse
.-.. _. -.
1306.
1307.
1308.
1309.
1400. Total Settlement
Charges (enter on lines 103, Section J and 502, Section K)
�v/0 • 0
1 have carefully reviewed
the HUD-1 Settlement Statement and to the best of my knowledge and belief, it is a true and accurate statement of all receipts and
I have received a copy of the HUD-1 Settlement Statement.
disbursements made on
My account or by me In this transaction. I further certify that
TERRANO
REALTY, INC. Cit f Denton exas
B 't
. McCormack, President sellers to V. Harris 1, C'ty anager
By :
Borrowers John
The HUDa Settlement St
lament which I have prepared Is a true and accurate account of this trap Ion. hev II cause 1 funds to be disbursed
in accordance with this a
atement. By
Bob Castleberry, M or
Settlement Agent
Warningt It is a crime to
Date /to r -
knowingly make false statements to the United States on this or any other si Her o . Penalties upon c victlon can include a fine
and imprisonment. For dbtails
see: Title 18 U.S. Code Section 1001 and Section 1010. PAGE 2
ar
REQUEST FOR TAXPAYER IDENTIFICATION NUMBER (TIN)
IN CONNECTION WITH A REAL ESTATE TRANSACTION
TO: CITY OF DENTON, TEXAS
DATE: October 19, 1994
GFN 94F 354018
The Tax Reform Act of 1986 requires the reporting of certain "Real Estate Transactions", as
currently defined in the Income Tax Regulations. If your transaction requires disclosure you are
required by law to provide SOUTHWEST LAND TITLE CO. with your correct taxpayer identification
number. If you do not provide SOUTHWEST LAND TITLE CO. with your correct taxpayer identifica-
tion number, you may be subject to civil or ciminal penalties imposed by law. This is important tax
information and is being furnished to the Internal Revenue Service. If you are required to file a return,
a negligence penalty or other sanction will be imposed on you if this item is required to be reported
and the Internal Revenue Service determines that it has not been reported.
NAME OF TAXPAYER (SELLER)
FORWARDING ADDRESS OF TAXPAYER
TAXPAYER IDENTIFICATION NUMBER
DATE OF CLOSING
GENERAL DESCRIPTION (Address)
OF THE REAL ESTATE
TRANSFERRED
SOUTHWEST LAND TITLE CO.
2900 LINCOLN PLAZA
500 NORTH AKARD STREET
LOCK BOX 6
DALLAS, TEXAS 75201
TIN # 75.2541812
GROSS PROCEEDS $
PRINCIPAL RESIDENCE OTHER REAL ESTATE
* * * * * * * * * * * * * * * AMOUNT RECEIVED FROM BUYER FOR REAL ESTATE TAXES
CERTIFICATION. — Under penalties of perjury, I certify that:
(1) The number shown on this statement is my correct Taxpayer Identification Number,
AND
(2) 1 am providing my Taxpayer Identification Number in connection with a real estate
transaction.
xx (3) 1 am not required to furnish a Taxpayer Identification Number to SOUTHWEST
LAND TITLE CO., as the seller is a corporation, governmental unit, or an exempt volume
transferor (as per attached).
I hereby acknowledge receipt of this form Ir
DATE: October lt).1994
TAXPAYER
T411Z GnORA iC DA OT nC W1 1r\1
THE STATE OF TEXAS
COUNTY OF DENTON:
This instrument was acknowledged before me this (L day of
October, 1994, by Lloyd V. Harrell as City Manager on behalf of the
City of Denton, Texas, a home rule municipality.
a• rr ELIZALEHJ•WILWIMg ota Public skate of Texas
a: MYCOet413 "EMAES
May 15,1097
Printed Name of Notary
My commission expires: 3-iS 9
THE STATE OF TEXAS
COUNTY OF DENTON:
r .{�
This instrument was acknowledged before me this day of
October, 1994, by Bob Castleberry, Mayor on behalf of the City of
Denton, Texas, a home rule municipality.
0000000000000000000000000001
.. MUM N. WILRINWN ��jj
g • , Notary Public, State of Texas
g ",.,,My Commission Expires 04.30-1998
0000000000000000000000
AFTER RECORDING, RETURN TO:
TERRANO REALTY, INC.
1303 Campbell Rd.
Houston, TX 77055
EXCHANGE WARRANTY DEED PAGE 1
AEXCHWD.019
�r
Not y Public, State of Texas
Printed Name of Notary
My commission expires:
SpErrpL WARRANTY DEED
THE STATE OF TEXAS:
COUNTY OF DENTON:
THAT, THE CITY OF DENTON, TEXAS, a home rule municipality, of
Denton, Denton County, Texas, hereinafter designated Grantor, for
and in consideration of the sum of Ten and No/100 Dollars ($10.00)
and other good and valuable consideration, including but not
limited to the exchange of properties hereinafter designated and
set forth, paid by and conveyed by TERRANO REALTY, INC.,
hereinafter designated Grantee, whose mailing address is 1303
Campbell Rd., Houston, TX 77055, the receipt and sufficiency of
which consideration is hereby acknowledged; and said Grantor has
Granted, Sold and Conveyed in Exchange, and by these presents does
Grant, Sell and Convey in Exchange unto the said Grantee, all that
certain lot, tract or parcel of land lying and being situated in
the County of Denton, State of Texas, to -wit:
SEE EXHIBIT "A" FOR A METES AND BOUNDS DESCRIPTION OF
SAID PARCEL, WHICH EXHIBIT IS MADE A PART HEREOF FOR ALL
PURPOSES AS THOUGH COPIED IN FULL HEREIN;
subject, however, to the restrictions, conditions, easements, and
covenants, if any, applicable to and enforceable against the
property as reflected by the records of the County Clerk of Denton
County, Texas; in consideration for which the Grantee has, by
separate conveyance, conveyed in exchange to Grantor, the following
described lot, tract or parcel of land lying and being situated in
the County of Denton, State of Texas, to -wit:
SEE EXHIBIT "B" FOR METES AND BOUNDS DESCRIPTION OF TWO
TRACTS OF LAND, WHICH EXHIBIT IS MADE A PART HEREOF FOR
ALL PURPOSES AS THOUGH COPIED IN FULL HEREIN;
TO HAVE AND TO HOLD the premises first above -described,
together with all and singular the rights and appurtenances thereto
in anywise belonging unto the said Grantee, its successors and
assigns, and Grantor does hereby bind itself, its successors and
assigns, to Warrant and Forever Defend, all and singular the said
first above -described premises unto the said Grantee, its
successors and assigns, against every person whomsoever lawfully
claiming, or to claim the same, or any part thereof, by, through
and under Grantor, but not otherwise.
WITNESS our hands at Denton, Texas, this 19th day of October,
1994.
.0
EXCHANGE MARAAM DEED PAGE 1
AEXCEND.018
nR nRNTON
TEXAS
THE STATE OF TEXAS
COUNTY OF DENTON:
This instrument was acknowledged before me this IqZ� day of
October, 1994, by Lloyd V. Harrell as City Manager on behalf of the
City of Denton, Texas, a home rule municipality.
ELIZABETH J. WILLIAMS
My COWASSION E%PIRES
I May 16, 1997
THE STATE OF TEXAS
COUNTY OF DENTON:
9
N ary, blic, of Texas
Printed Name of Notary
My commission expires:
This instrument was acknowledged before me this day of
October, 1994, by Bob Castleberry, Mayor on behalf of the City of
Denton, Texas, a home rule municipality.
ROGER N, WILKINSON e�!%
nI Texas
................................
AFTER
, RETURN TO:
TERRANO REALTY, INC.
1303 Campbell Rd.
Houston, TX 77055
EXCHANGE WARRANTY DEED PAGE 2
AEXCEWD.019
� f e /" �' -/z /Z '-
Not y Public, State of Texas
Printed Name of Notary
My commission expires:
AFFIDAVIT AND INDEMNITY AS TO
DEBTS, LIENS AND PARTIES IN POSSESSION
(Seller or Owner/Borrower)
GFO 94F 354018
PROPERTY: 27. 7488 acres, part of the Mary Austin survey, Abst. No. 4, and being part
of Lot 1, Block 1 and part of Lot 1, Block 2, Municipal Utility Addition,
Denton, Denton County, Texas
STATE OF TEXAS )
COUNTY OF DENTON )
BEFORE ME, the undersigned authority, on this day personally appeared
City of Denton, Texas
(Seller or Owner/Borrower), personally known to me, who, having been duly sworn, on oath states that the marital
status of the undersigned has not changed since the date of acquisition of said property and represents to the
Purchaser, Lender, and SOUTHWEST LAND TITLE CO. (Title Company) in this transaction that there are:
1. No unpaid debts for taxes, plumbing fixtures, water heaters, floor furnaces, air conditioners, radio or television
antennae, carpeting, rugs, lawn sprinklering systems, venetian blinds, window shades, draperies, electric appliances,
fences, street paving, or any personal property or fixtures that are located on the subject property described above,
and that no such items have been purchased on time payment contracts, and there are no security interests on such
property secured by financing statement, security agreement or otherwise except the following:
Creditor Approximate Amount
NONE
2. No loans or liens (including federal, state and judgment liens) of any kind against the undersigned, nor on such
property except the following:
Creditor Approximate Amount ;
ALEX DICKIE, SR. ET AL
DANNY R. BAYS, SR.
3. All labor and material used in the construction of improvements on the above described property have been paid
for and there are no unpaid labor or material claims against the improvements or the property upon which same are
situated, and the undersigned hereby declares that all sums of money due for the erection of improvements have been
fully paid and satisfied, except the following:
NONE
4. The undersigned is not presently in bankruptcy, or if the undersigned is in bankruptcy, the Property has been
declared by the bankruptcy court to be exempt from the claims of all creditors, and there are no creditors of the
undersigned who have not received notice of the bankruptcy;
5. The undersigned has not been refused title insurance by another title company;
6. Except as noted below, there are no visible or apparent easements or any underground easements created by
virtue of unrecorded grant or use, nor are there any parties occupying, renting, leasing, residing or possessing the
Property or any portion thereof, nor is the undersigned aware of any party claiming title to the Property or any
portion thereof by reason of adverse possession, except:
NONE
INDEMNITY: THE UNDERSIGNED AGREE TO PAY ON DEMAND TO THE PURCHASER, LENDER, OR
TITLE COMPANY IN THIS TRANSACTION, THEIR SUCCESSORS AND ASSIGNS, ALL AMOUNT
SECURED BY ANY AND ALL LIENS SHOWN OR NOT SHOWN ABOVE, TOGETHER WITH ALL
COSTS, LOSS AND ATTORNEY'S FEES THAT SAID PARTIES MAY INCUR IN CONNECTION WITH
SUCH UNMENTIONED LIENS, PROVIDED SAID LIENS EITHER CURRENTLY APPLY TO SUCH
PROPERTY, OR A PART HEREOF, OR ARE SUBSEQUENTLY ESTABLISHED AGAINST SAID PROP-
ERTY AND ARE CREATED BY OR ARE KNOWN TO THE UNDERSIGNED, OR HAVE AN INCEPTION
DATE PRIOR TO THE CLOSING OF THIS TRANSACTION.
The undersigned acknowledge that the Purchaser, Lender and the Title Company in this transaction are relying
on the truth of the statements contained herein in purchasing same, lending money thereon, or issuing a title policy
therein and would not purchase same, lend money, or issue a title insurance policy therein unless said representations
are made on oath under penalties of perjury.
CITY OF DENTON, TEXAS
Bob Castleberry, Mayor By:Lloyd V. Harrell, City Manager
SUBSCRIBED AND SWORN TO before me, the undersigned Notary Public, this day of
October 1994 by Lloyd V. Harrell, City Manager of City of Denton and
Bob Castleberry, Mayor of City of Denton.
AIPP (9/92)
Notary Public, State of Texas
COOOSTEIN & STARR, P.C.
P.O. Box G70102
5025 Forest Lanc, Suite 200
Daling, Texas 75230
Date'
October 19, 1594
The undersigned has (have) or does (do) hereby employ the law firm of
COODSTRIN & STARR, P.C., [or the limited purpono of preparing the nocd, Note
and need of Trust, and other documents in nccordnnce with our Contract oC
Sale or Loan Instructions, and necessary or proper in connection with the
snle, purchase or mortgnge of land described in Southwest Land Title Company
file No. Cr
94F 354018 Said firm is not employed for
consultation or representation generally, or for any purpose in connection
with said Vale, purchnsc or mortgnge of land other thin the preparntion of
documents as above indicated. CITY (}VDENTON, TEX�S/
1 Se�le (Lender)
By: L�pyd V.�Harrei l City an gcr
By: Bob.Cast'leberry> May
4 I
Yurchascr (1sorrower)
TERRANO REALTY, INC.
Pc rclliresirdet�°rrowcr )
By: John M. McCormac ,
October 19, 1994
To: Southwest Land Title Co.
4230 LBJ Fwy., Suite 121
Dallas, TX 75244
Re: GF 94F 354010 - Tract I: 1.114 acres; Tract II 9.565 acres,
Mary L. Austin Survey, Abst. 4, Denton,
Denton County, Texas
GF 94F 354018 - 27.7488 acres of land, Mary Austin Survey,
Denton, Denton County, Texas
This is to advise you that the sale price of the property
covered in your GF 94F 354010 is $81,571.04, and that the
total sale price of the property covered in your GF 94F 354018
is $91,571.04.
John M. McCormack as President on
behalf of Terrano Realty, Inc.
C nn OF
DENTO , TEXAS
By (� r/.
Lloyd V. Harrell, City Manager
By
0
ArrTAVIT Or NCNrOr:rACN STJVMJS
Trrr STATE: Or TEXAS
COUNTY or
BEFORE OME F DEN he undersigned authority, on this day personally appeared
CITY
TEXAS ,
known to me to be the person whose name is subscribed hereto, and, after being duly sworn and under oath.
deposed and said:
(1) ' ENTO ferorofevcn date herewith, sold and LranCounty Texas, and more particularly described In
Eroperty (Lhe"Property") located
DENTON to
Exhibit "A" attached hereto and made a part hereof for all Intents and purposes
TERRANO REALTY, INC. Transferee."
(2) . "I acknowledge that Section 1445 of the Internal Revenue Code provides that a transferee (buyer)
of a United States real property Interest must withhhold tax if the transferor (seller) Is a foreign person/entity.
bTo Inform and assure Transrerce LhatwILhhoIdIng ortax is not y Tr.1n reror to Tmnsfc cc. the underrecluircd upon the sale and transfer orthe Properly
signed hereby certi0 sto Transferee the following:
(a) Transferor Is not a foreign person, foreign corporation, foreign partnership, foreign trust.
or foreign estate (as such terms are defined in the internal Revenue Code and Income Tax Regulations) for
purposes of U.S. income taxaLlon:
(b) • No person or entity other Llinn Transferor has any fee title ownership interest In or to the
Property; or United
(c) Transferors social security number Is
Slates Employer's identification Number Is
(d) Transferor's mailing address is: I
(3) "I understand that this Affidavit of Nonforelgn SLaLus may be disclosed to the Internal Revenue
Service by Transferee and that any false statement made heroin could be punishable by fine, imprisonment, or
both."
(4) "Under penalties of perJury, T declare that 1 have examined this Affidavit oCNonforclgn Status and.
to the best of my knowledge and bcllcf, it Is true. correct. and complete." \
_ IF ENTITY, CI-1ECT( HERE.
"Further, I declare Thal I have the authority to sign this document on behalf ofTransfcror."
EXECUTED 'efrective as of the 19th day of
19 94
Bob Castleberry, mayor
SWORN TO AND SU13SCTU13ED DEFORE ME on a of October, 199
V. Harrell, Cit Man a er of Denton, and Bob Castlebe y, Mayor of Denton
" ELM&NM J. WILLIAMIS
MUY 16,1aW
Nol Pubhe, to oTTexas
N Aot
SWORN TO AND SU13SCRI13ED DEFORE ME on
of
corporation.
Notary Public, State of Texas
the
by
by
on behalf of said
G F# 94F 354018
WAIVER OF INSPECTION
Procedural Rule P-3 of the Basic Manual of Rules, Rates, and Forms
for the writing of title insurance in the State of Texas allows the Title Company
to make a general exception in insuring forms as to "Rights of Parties in
Possession on condition that the Insured executes a written instrument waiving
an inspection of the property to be insured.
Pursuant thereto, the undersigned waives inspection of the property
being insured by title insurance in the above file and further states that the
undersigned is satisfied to accept the policy subject to such general exception.
EXECUTED this 19th day of October , 1994
TERRANO REALTY, INC.
BY: John M. McCormack, President
•
GFp 94F 354018
AFFIDAVIT OF PARTIES IN POSSESSION
THE STATE OF TEXAS
COUNTY OF DENTON
BEFORE ME, the undersigned authority in and for said County and State, on
this day personally appeared Lloyd V. Harrell, City Mana�er, and Bob Castleberry,*
known to me to be the person whose name is subscribed Veto and upon oath deposes
and says as follows:
1. With respect to the real property located in Denton County, Texas,
and described below or In Exhibit "A" attached hereto, affiant nag not:
(a) entered Into any oral or written lease agreements,
(b) given permission to use, occupy, or enter, or
(c) otherwise granted any possessory rights of any nature whatsoever which
are presently existing as of this date except:
*Mayor, both on behalf of the City of Denton, Texas,
p, To afflant's knowledge there are no parties in possession of all or a portion
of the described property or exercising any possessory rights thereon.
3. This Affidavit is given to Induce Southwest Land Title Co. and its title
insurance underwriter to Issue policies of title Insurance without general exception to "rights
of parties in possession" except as provided herein, and affiant acknowledges that such
policies would not be Issued except upon the representations contained herein.
PROPERTY:
SZZ ZXHI31T "A".
EXECUTED and sworn to this AI-Zh day of October /1994
Lloyd V. Harrell as City onager of
than City of Dentt;ne Texa
Ho Caetleberry, Mayor of the City of
Denton, Texas
SWORN TO, SUBSCRIBED AND ACKNOWLEDGED BEFORE ME this 1"5I417 day Of
) ctober 1994 „fJcJ LLo✓4 V. HA,t'BEGG G,7Y /°%7 U,iCriEc'
&No!d6ji�ubhc,te o exas
EUZM M J. WU M8 ✓
My COMMON ExPIAES
fY„ 18, 1W
ZMMZT .lk,
or M=bart l-3540is-C
All that certain lot, tt*ct or DarCi1 01 land lying tad being ■ituatad in the
ountunty of Denton, State of Tazas, and being part of the sa1X Austin
City and C.
Survey, so) xo. 4 and being part ol,Lot t, Block t and Dart of Lot 1,
Block 1 of the Municipal utility Addition, an addition to the City and County
of Denton, recorded in Cabinet Otlyadescribed the plot llowatootds of Denton
county, T93mo and see a part
coNs m=90 at the northwest corder of said rot 10 Stock 11
West bounda=
lTONCI south of said 02loodog"eook3 minutest'awcaaoon110MA7t! etntothe po7.ttT or
satlZetass0, said point being the sotthwast Corner of a drainage and utility
easamant as rhowa on said plat,
atoasermat .oath
."nx1 f north to deVroom 11 miautos 17 seconds Baste *-r corner'
boundary lino a distance of 149,37 feet to a Pc
Tgc= south 57 degrees 3.6 atinutes 37 recondo fast, continuing along said
eaNemeat south boundary Sine a distaaor 09 674.65 feet to a point for a oot"r
in the east boundary line of maid Lot 1, Block 11
TB7xCs Youth 0 degrees OY minutoo 00 seeends last, along the ease boundary
line of said Let t, stock If passing at 394.04 feet the Noutheut Corner of
said Lot If Block 1, ■azo being the north right-of-way tins of Morse Read,
continuing and parsing the south right-of-way o! sane Road, Nato beiaa the
east
zl*c
northeast
1cornet ■f Said Let Block k 2,betl►lidi taace oalong
1137.91 feet to a
point for corded
1 het
Ta:�cs Youth 86 dsgrut O3 Oil',' 54 seconds Mast, a distaaee o9 s64.i
to a point tar a corns, maid point«beingasterIL rnuithaaraocoraarlolaadtraotl•
Block 9, maid point also being Real V CopertY Records, Denton CouatY#
described is volume 31941 page 7781
gewas
TRs11Cs worth o degrees 36 minutes 10 poendt a btboanndOW th].ia o! *UiUn �Ot
line eY said Lot 11 aloek 1, owe being th•the
desoribad is Volume 7114, rage 175 A.s.R.p.C.R., passLua attt510*15 feetway of
northwest corner of said Lot 1, abatem
9, sam being the
bwi�uior passing gs�� Road'of Now" t
maidLotif Stock t aing and a0 he
aa threattntaor
west boundary line of maid Lot 1, slack i a total distance o! SS73.44 to •
point Car a earner/
01 dsgress 13 minutes 34 seconds fast, continuing along ehe west
Tslmcs Berth a distaao• of 35.35 fset to the place at
boundary tine at said Lot 1, stook 1,
beginning and containing 37.7402 acre$ of lane, ware or less.