HomeMy WebLinkAbout20-765Peloton Job No. HWA18008 Tracking No. ACF# 7354
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DESCRIPTION OF
THREE TRACTS OF LAND
TRACT 1
BEING a tract of land situated in the E. Pizano Survey, Abstract Number 994, the G. Pettingale
Survey, Abstract Number 1041, the J. Taft Survey, Abstract Number 1269, the G. West Survey,
Abstract Number 1393, the B.B.B. & C.R.R. CO. Survey, Abstract Number 158, Denton County,
Texas, and being all of the remainder of that tract of land described by deed to Petrus
Investment, L.P. (tract 1), recorded in Instrument Number 1998-117450, and all of that tract of
land described by deed to Hillwood Investment Land, L.P., recorded in Instrument Number
2015-146192, Real Property Records, Denton County, Texas, and being more particularly
described by metes and bounds as follows:
BEGINNING at the southwest corner of said Tract 1, being in the north right-of-way line of
Robson Ranch Road;
THENCE N 00°37’44”W, 3285.00 feet, departing said north right-of-way line;
THENCE N 00°29’34”W, 3074.88 feet;
THENCE S 89°50’59”W, 1215.90 feet;
THENCE N 00°07’16”E, 3802.59 feet;
THENCE N 89°46’52”E, 5806.39 feet;
THENCE N 01°19’45”E, 92.25 feet;
THENCE N 89°29’17”E, 5406.54 feet, to the approximate center line of John Paine Road;
THENCE N 00°09’21”W, 6119.82 feet, with said approximate center line;
THENCE N 44°00’59”E, 231.30 feet, departing said approximate center line, to the south right-
of-way line of FM 2449, being the beginning of a curve to the right;
THENCE with said south right-of-way line and said curve to the right, an arc distance of 215.79
feet, through a central angle of 11°16’41”, having a radius of 1096.28 feet, the long chord which
bears S 66°45’34”E, 215.44 feet;
THENCE S 61°07’13”E, 2320.45 feet, continuing with said south right-of-way line, to the
beginning of a curve to the left;
THENCE with said south right-of-way line and said curve to the left, an arc distance of 151.20
feet, through a central angle of 01°29’56”, having a radius of 5779.65 feet, the long chord which
bears S 61°52’12”E, 151.19 feet;
EXHIBIT A - METES AND BOUNDS DESCRIPTION OF DISTRICT AREA
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THENCE S 00°27’53”E, 1963.20 feet;
THENCE S 89°55’28”E, 47.53 feet, to the west right-of-way line of Interstate Highway 35W;
THENCE with said west right-of-way line the following bearings and distances:
S 26°18’12”W, 1542.25 feet;
S 32°02’34”W, 199.99 feet;
S 26°18’12”W, 400.06 feet;
S 19°10’44”W, 201.57 feet;
S 26°18’12”W, 2962.69 feet;
N 33°34’41”W, 200.24 feet;
N 19°12’37”W, 155.68 feet;
N 00°31’13”W, 111.31 feet;
N 30°43’14”W, 44.34 feet;
N 89°58’11”W, 46.00 feet;
S 29°23’22”W, 44.72 feet;
S 00°31’13”E, 210.31 feet;
S 10°43’27”E, 103.30 feet;
S 00°31’13”E, 118.88 feet;
S 33°43’52”E, 270.79 feet;
S 26°18’12”W, 2560.86 feet;
S 27°54’47”W, 605.73 feet;
S 29°23’19”W, 2716.37 feet;
S 35°04’08”W, 202.07 feet;
S 29°23’19”W, 899.62 feet;
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S 32°15’04”W, 144.34 feet;
S 89°59’41”W, 56.40 feet;
S 00°37’05”E, 92.68 feet;
S 29°23’19”W, 749.32 feet;
S 32°50’37”W, 497.80 feet;
S 29°18’00”W, 128.98 feet;
S 29°23’18”W, 922.23 feet;
THENCE S 65°32’46”W, 23.56 feet, to the north right-of-way line of Robson Ranch Road;
THENCE with said north right-of-way line the following bearings and distances:
S 89°52’13”W, 246.95 feet;
N 00°19’14”W, 5.20 feet;
S 89°53’26”W, 290.34 feet;
S 00°06’34”E, 5.00 feet;
S 89°53’26”W, 200.00 feet;
S 00°06’34”E, 5.00 feet;
S 89°53’26”W, 600.00 feet;
S 00°06’34”E, 5.00 feet;
THENCE S 89°53’26”W, 4134.86 feet to the Point of Beginning and containing 102,688,371
square feet or 2357.40 acres of land more or less.
TRACT 2
BEING a tract of land situated in the B.B.B. & C.R.R. Co. Survey, Abstract Number 158, the J.
Taft Survey, Abstract Number 1269, the B.B.B & C.R.R. Co. Survey, Abstract Number 159, the
G. Pettingale Survey, Abstract Number 1041, the B.B.B. & C.R.R. Co. Survey, Abstract Number
160, the S. Pritchett Survey, Abstract Number 1021 and the G. West Survey, Abstract Number
1393, Denton County, Texas, and being the remainder of that tract of land described by deed to
Petrus investment, L.P., recorded in Instrument Number 1998-117450, Real Property Records,
Denton County, Texas and being more particularly described by metes and bounds as follows:
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BEGINNING at the intersection of the of John Paine Road and Johnson Lane;
THENCE S 00°30’43”E, 3045.50 feet, with the approximate centerline of said John Paine Road,
to the beginning of a curve to the left;
THENCE with said approximate centerline and said curve to the left, an arc distance of 179.75
feet, through a central angle of 19°11’48”, having a radius of 536.50 feet, the long chord which
bears S 09°24’16”W, 178.91 feet;
THENCE S 00°13’45”E, 426.23 feet, with said approximate centerline;
THENCE S 89°53’42”W, 2258.03 feet, departing said approximate centerline;
THENCE N 00°26’28”E, 497.90 feet;
THENCE S 89°59’41”W, 273.92 feet, to the east right-of-way line of Interstate Highway 35W;
THENCE with said east right-of-way line the following bearings and distances:
N 29°23’19”E, 847.04 feet;
N 23°44’25”E, 203.21 feet;
N 29°23’16”E, 2716.06 feet;
N 27°54’47”E, 621.79 feet;
N 26°18’12”E, 2150.05 feet;
N 89°55’52”E, 470.07 feet;
S 76°13’57”E, 71.47 feet;
N 89°37’20”E, 80.00 feet;
N 71°38’56”E, 52.97 feet;
N 16°39’41”E, 51.30 feet;
N 70°04’44”W, 229.45 feet;
N 54°35’05”W, 163.69 feet;
N 33°40’57”W, 209.99 feet;
N 26°18’12”E, 3164.78 feet;
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N 36°14’02”E, 202.95 feet;
N 26°18’12”E, 399.25 feet;
N 32°45’23”E, 400.40 feet;
N 26°18’12”E, 399.87 feet;
N 14°58’58”E, 305.66 feet;
N 26°18’12”E, 833.31 feet;
THENCE N 89°32’14”E, 1998.29 feet, departing said east right-of-way line;
THENCE S 00°48’03”E, 5473.72 feet, to the approximate centerline of Allred Road;
THENCE S 89°49’27”W, 3048.35 feet, with said approximate centerline;
THENCE S 00°27’04”E, 2640.07 feet, departing said approximate centerline;
THENCE S 89°59’08”W, 2353.13 feet to the Point of Beginning and containing 31,246,880
square feet or 717.33 acres of land more or less.
TRACT 3
BEING a tract of land situated in the S. Pritchett Survey, Abstract Number 1004, the G. West
Survey, Abstract Number 1393, the C.W. Byerly Survey, Abstract Number 1458, and the J.
Dalton Survey, Abstract Number 353, Denton County, Texas, and being all of the remainder of
that tract of land described by deed to Petrus Investment, L.P., (tract 3) recorded in Instrument
Number 1998-117450, Real Property Records, Denton County, Texas, and being more
particularly described by metes and bounds as follows:
BEGINNING at an ell corner in the east line of said tract 3, being the northwest corner of that
tract of land described by deed to Southwest Denton Venture, recorded in Instrument Number
1994-94865, said Real Property Records;
THENCE S 00°26’39”E, 996.99 feet, with the east line of said tract 3, to the north right-of-way
line of FM 2449, being the beginning of a curve to the right;
THENCE with said north right-of-way line and said curve to the right, an arc distance of 95.22
feet, through a central angle of 00°57’38”, having a radius of 5679.65 feet, the long chord which
bears N 61°36’02”W, 95.22 feet;
THENCE N 61°07’13”W, 2320.45 feet, with said north right-of-way line;
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THENCE N 00°16’51”W, 99.92 feet, to the approximate centerline of Underwood Road;
THENCE N 89°44’37”E, 986.31 feet, with said approximate centerline;
THENCE N 01°13’53”E, 1106.15 feet, continuing with said approximate centerline, to the
southwest corner of that tract of land described by deed to W.C. Lynch, recorded in Instrument
Number 1991-23744, said Real Property Records;
THENCE S 89°48’49”E, 1847.04 feet, with the south line of said Lynch tract;
THENCE S 00°25’26”E, 427.73 feet, departing said south line, to the approximate centerline of
Hickory Creek;
THENCE with the approximate centerline of Hickory Creek the following bearings and
distances:
S 40°20’08”E, 256.75 feet;
S 49°08’35”E, 333.56 feet;
S 44°58’00”E, 94.76 feet;
S 24°00’36”E, 123.31 feet;
S 05°41’36”W, 211.41 feet;
THENCE S 02°18’34”E, 131.60 feet, to the north line of the aforementioned Southwest Denton
JV tract;
THENCE S 89°32’45”W, 1271.86 feet, departing said Hickory Creek, to the Point of
Beginning and containing 4,050,704 square feet or 92.99 acres of land more or less.
"This document was prepared under 22 TAC 663.21, does not reflect the results of an on the ground
survey, and is not to be used to convey or establish interests in real property except those rights and
interests implied or established by the creation or reconfiguration of the boundary of the political
subdivision for which it was prepared."
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CONSERVATION EASEMENT
This Conservation Easement is by and between Petrus Investment, LP (“Grantor”), and the City of
Denton, a Texas home-rule municipal corporation (“Grantee”) and is effective upon recording in the real
property records of Denton County, Texas (“Effective Date”).
Recitals:
1. Grantor is the record owner of fee simple title to a certain parcel of real property
consisting of 29.125 acres located and situated in Denton County, Texas and more particularly described
in attached Exhibit “A” (the “Property”).
2. Grantee is qualified to hold a conservation easement as it is an entity empowered to hold
an interest in real property under the laws of the State of Texas.
3. The preservation of the Property is desirable as the Property has significant historical,
environmental, and scenic value to the parties.
4. It is the intent of this Conservation Easement to assure that the Property will be retained
and maintained perpetually in its natural vegetative and hydrologic condition in accordance with both the
terms of this Conservation Easement and the conditions documented in the Baseline Documentation
Report (“BDR”) in the attached Exhibit “B”.
5. The purpose of the Conservation Easement includes the following (the “Purposes” or
“Conservation Values”), subject to Grantor’s Reserved Rights:
A. retaining or protecting natural, scenic, or open-space aspects of the Property;
B. ensuring the availability of the Property for trail use by the public;
C. protecting natural resources;
D. maintaining or enhancing air and water quality;
E. maintaining areas of scenic and historical significance; and
F. maintaining the Property as documented in the BDR.
6. The following Exhibits are attached to this Conservation Easement and incorporated by
reference:
A. Exhibit A - Legal Description of the Property; and
B. Exhibit B - Baseline Documentation Report.
Witnesseth:
NOW THEREFORE, for good and valuable consideration from Grantee, the receipt and legal
sufficiency of which are acknowledged by Grantor, and in consideration of the covenants, mutual
agreements and conditions herein contained, Grantor has TRANSFERRED, BARGAINED, GRANTED, SOLD,
CONVEYED, ASSIGNED, SET OVER and DELIVERED, and by these presents does TRANSFER, BARGAIN,
GRANT, SELL, and CONVEY, to Grantee a conservation easement on, over, under, across, along and
EXHIBIT B - FORM OF CONSERVATION EASEMENT
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through the Property on the terms set forth herein, together with all other rights reasonably necessary or
desirable to accomplish the Purposes and the rights granted under this Conservation Easement, subject
to the following terms, reservations, covenants, limitations and exceptions:
1. Duration of Easement. The Conservation Easement shall be perpetual. The Conservation
Easement is an easement in gross, runs with the land, and is enforceable by Grantee against Grantor, and
Grantor’s successors, assigns, lessees, agents, and licensees.
2. Property Description. The metes and bounds legal description of the Property are set
forth in Exhibit “A” and incorporated herein by reference.
3. Present Condition of the Property. Subject to Grantor’s Reserved Rights, neither Grantor,
its agents, assigns, successors, or personal representatives, nor any purchasers, lessees may violate the
terms or Purposes of the Conservation Easement. The conditions of the Property are described in the
BDR, prepared in accordance with Land Trust Accreditation Commission Guidelines and Land Trust
Standards and Practices 11B, attached hereto as Exhibit “B”, prepared by Grantor and acknowledged by
the parties to be complete and accurate as of the date hereof. Both the parties have copies of the BDR.
The BDR will be used by the parties to assure that any future changes in the use of the Property will be
consistent with the terms of this Conservation Easement. However, the BDR is not intended to preclude
the use of other evidence to establish the present condition of the Property if there is a controversy over
its use.
4. Prohibited Activities. Any activity on, or use of, the Property in violation of the terms and
Purpose of the Conservation Easement is prohibited. The Property shall be preserved as documented in
the BDR and is restricted from any development that would violate the Purposes of the Conservation
Easement. Without limiting the generality of the foregoing, the following activities and uses are expressly
prohibited, restricted, or reserved as indicated hereunder:
A. Vegetation: Except for the below, there shall be no clear-cutting of trees on the
Property. Grantor may remove diseased, invasive or non-native trees, shrubs, or plants; cut and
mow firebreaks and existing road rights-of-way; and remove trees, shrubs, or plants to
accommodate maintenance of permitted improvements, including trails or other uses expressly
permitted under the terms of this Conservation Easement. Grantor may remove potentially
invasive plants from the Property for habitat management purposes consistent with the intent of
this Conservation Easement. Except as necessary for activities expressly permitted in this
Conservation Easement and with written permission from Grantee, there shall be no farming on
the Property.
B. Uses: No plowing, residential or industrial activity shall be conducted upon the
Property. There shall be no storing or dumping of soil, trash, ashes, garbage, waste, abandoned
vehicles, appliances, machinery, or hazardous substances, or toxic or hazardous waste, or any
placement of underground or aboveground storage tanks or other materials on the Property that
may negatively impact or be detrimental to the Property or to the surface or subsurface waters
of the Property.
C. Subdivision: The Property may be further divided, subdivided, or partitioned but
all such property shall remain subject to the terms of the Conservation Easement perpetually.
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D. Topography: There shall be no change in the topography of the Property. There
shall be no surface mining, filling, excavating, grading, dredging, mining or drilling upon the
Property, and there shall be no removing of topsoil, peat, sand, gravel, rock, minerals or other
materials from the Property except to construct and maintain permeable surface trails and
walkways using natural materials, or restore natural topography or drainage patterns.
E. Soil or Water Degradation: There shall be no use of, or the conducting of any
activity on, the Property that causes or is likely to cause significant and destructive soil erosion,
depletion or pollution of, or siltation on, any surface or subsurface waters of the Property, and
there shall be no change to streams on the Property in any manner. There shall be no diking,
draining, dredging, channeling, filling, leveling, pumping, impounding, of surface waters.
F. Construction: There shall be no constructing or placing of any building, mobile
home, asphalt or concrete pavement, billboard or other advertising display, antenna (including,
but not limited to, cell, mobile, or otherwise), utility pole, tower, conduit, line, or any other
temporary or permanent structure or facility or any other man-made structures on the Property
except in connection with the construction, repair, maintenance, or replacement (but not
expansion) of the permitted trails and any structures and other improvements located on the
Property as of the Effective Date of this Conservation Easement. Grantor shall have the right to
maintain, renovate, and repair existing buildings, structures, fences, pens, wells, dams and
reservoirs, utilities, soft-surface roads, and other improvements, and in the event of their
destruction, to reconstruct any such existing improvement with another of similar size, function,
capacity, location, and material.
G. Roads: There shall be no construction of roads or concrete sidewalks on the
Property; nor any enlargement, widening, improvement or modification to any existing roads, on
the Property. Maintenance of existing roads shall be limited to removal of dead vegetation,
necessary pruning, drainage improvement or removal of obstructing trees and plants, and/or
application of permeable materials (e.g., sand, gravel, and crushed stone) as necessary to correct
or prevent erosion. Construction and maintenance of permeable surface trails or walkways using
natural materials by Grantor is allowed.
H. Waters: There shall be no polluting, altering, manipulating, depleting or
extracting of surface (including, but not limited to, ponds, creeks or other water courses) or any
other water bodies on the Property, and there shall be no conducting or (to the extent in Grantor’s
control) allowing any entity or person to conduct activities on the Property that would be
detrimental to water purity or that alter the natural water level or flow in or over the Property
(including, but not limited to, damming, dredging or construction in any free flowing water body,
nor any manipulation or alteration of natural water courses, fresh water lake and pond shores,
marshes or other water bodies).
I. Vehicles: Use of vehicles shall be limited to access to the site for monitoring,
maintenance, fire protection/emergency action, construction of approved permeable trails or
other approved activities. Off road vehicular access is expressly prohibited.
J. Easements: There shall be no granting or conveying of any easements on, over,
under, across, along or through the Property, including, but not limited to, access easements and
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utility easements conveyed by separate instruments after the Effective Date, other than the
following conveyances:
I. Grantee has the right of pedestrian ingress and egress to and from, and
access on, across, along, and through the Property to access the Property to take such
actions which are consistent with the Conservation Easement; and
II. The public shall have the right of pedestrian ingress and egress to and
from, and access on, across, along, and through the Property on the permeable trails after
the same have been completed and such public access will be limited only to the
permeable trails. The parties have the option to further document the public’s right of
access to the permeable trails at a later date.
K. Mineral Extraction. There shall be no exploration, development, production,
extraction, or transportation of oil, gas or other mineral substances (whether such other mineral
substances be part of the mineral estate or part of the surface estate) on, from, or across the
Property (“Mineral Activities”) except in accordance with this Section provided, however, that
this Section does not apply to water, which is addressed elsewh ere in this Conservation Easement.
I. No Surface Mining. Grantor shall not conduct surface mining by any
surface mining methods, including, without limitation, the mining of gravel, sand or
caliche.
II. No Surface Use. Grantor has the associated rights and retains its
interests, if any, in all oil, gas and other mineral substances (whether such other mineral
substances be part of the mineral estate or part of the surface estate) in and under the
Property; provided, however, it is understood and agreed that, in conducting any Mineral
Activities on the Property, Grantor shall not use or occupy any portion of the surface
estate of the Property and shall not place any facilities, fixtures, equipment, building,
structures, pipelines, rights of way or personal property of any kind or nature whatsoever
on the surface of the Property or in the subsurface within the depth interval of 1000 feet
below the surface of the Property or on or in any portion thereof. Grantor agrees that all
Mineral Activities shall be conducted by directional or horizontal drilling below said
subsurface interval from a surface location off the Property, and Grantor hereby waives
any rights whatsoever to the use of the surface and said subsurface interval of the
Property in connection with any Mineral Activities on the Property. Notwithstanding
anything above to the contrary, Grantor shall not be prohibited from conducting
exploratory activities that are non-invasive, do not otherwise damage or negatively
impact the watersheds or aquifer, and do not significantly impair or interfere with the
Conservation Values. To the extent Grantor elects to explore for or extract or exploit any
oil, gas or other minerals in or under the Property from a surf ace location off the Property.
Grantor shall use reasonable efforts to minimize any damage or other negative impact on
the watersheds or aquifer underlying the Property by such activity.
L. Signage: Construction or placement of any signs, billboards, or other advertising
displays on the Property is not permitted, except that signs whose placement, number, and design
do not significantly diminish the scenic character of the Property may be placed to state the name
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and address of the Property for purposes of identifying a trail to advertise or regulate permitted
on-site activities, to post the Property to control unauthorized entry or use, or to identify the
property as being protected by this Conservation Easement.
M. Dumping: There shall be no dumping or storing of any material, such as trash,
wastes, ashes, sewage, garbage, scrap material, sediment discharges, oil and petroleum by-
products, leached compounds, toxic materials or fumes, or any “hazardous substances” (as
hereinafter defined). For the purposes of this paragraph, the phrase “hazardous substances” shall
be defined as in the federal Comprehensive Environmental Response, Compensation and Liability
Act (42 U.S.C. 9601 et seq.) and/or a substance whose manufacture, processing, distribution in
commerce, use, possession, or disposal is banned, prohibited, or limited pursuant to the federal
Toxic Substances Control Act (15 U.S.C. 2601 et seq.).
N. Hunting. Hunting is not allowed on the Property once the pub lic has access to the
permeable trails.
O. Other Prohibitions: Any other use of, or activity on, the Property which harms the
Conservation Easement granted herein.
5. Rights Reserved to Grantor.
A. Existing Uses. The Grantor expressly reserves for itself, its successors and assigns, the right
of access to and the right of continued use of the Property for all purposes not prohibited by this
Conservation Easement, including, but not limited to, the right to quiet enjoyment of the Property, the
rights of ingress and egress with respect to the Property, the right to fence the Property and to prohibit
public access thereto, except as otherwise provided herein, and the right to sell, transfer, gift or otherwise
convey the Property, in whole or in part, provided such sale, transfer, or gift conveyance is subject to the
terms of, and shall specifically reference, the Conservation Easement. Except as may be expressly provided
otherwise in this Conservation Easement, this Conservation Easement shall not in any way limit, restrict
or in any way affect any property of Grantor other than the Property, including without limitation, any
property adjacent to, surrounding or near the Property. The rights conveyed by this Conservation
Easement do not constitute a conveyance of a fee interest in th e Property, nor of any of the mineral rights
or water rights therein and thereunder. The rights retained by Grantor as set forth in this Section 5 are
referred to hereinafter as the “Reserved Rights”.
B. Construction, Maintenance, and Access to Trails. Grantor has the right to
construct and maintain permeable trails made of natural materials on the Property. The location
of the trails is at the sole discretion of Grantor. Grantor agrees to cooperate with Grantee on
location of the permeable trails to allow Grantee to maintain a comprehensive trail system in and
around the Property.
C. Transfer. The right to sell, give, mortgage, lease or otherw ise convey the Property,
provided such conveyance is subject to the terms of this Conservation Easement.
D. Diseased Trees and Firebreaks. The right to cut, trench, and remove damaged or
diseased trees, shrubs, or plants and to cut firebreaks, as required in exigent circumstances.
E. Animal and Game Management and Hunting.
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i. The right to manage animals and game on the Property, strictly in
accordance with applicable city ordinances, game laws and sound wildlife management
practices. The use of firearms by Grantor is allowed for this purpose.
ii. The right to hunt on the Property until the public has access to the
permeable trails. Any such hunting shall be conducted strictly in accordance with
Grantee’s ordinances and state law.
F. Farming and Planting. The right to use existing pastures and grasslands used for
grazing, plant such trees, shrubs or grasses on the Property as Grantor may desire from time to
time. Consistent with the terms of this Conservation Easement, Grantor shall have the right to
maintain, restore and enhance native plant and wildlife habitat, consistent with best management
practices and all applicable laws and regulations governing such practices.
G. Livestock. The right to run cattle and horses on the Property. In no event shall the
Property be over-grazed. Land is to remain fenced to prevent external cattle and livestock from
entering the Property. With the exception of dogs and livestock, there shall be no domestic cats
or intentional introduction of exotic wildlife or potentially invasive species on the Property.
Livestock introduction is prohibited except as authorized herein.
H. Restoration. The right to restore damage caused by natural disasters such as
drought, flooding, tornados and fire, to dredge waterways of debris and silt/gravel deposits
caused by flooding, to restore soil levels and contours and replace shrubs and trees lost to natural
occurrences or disasters with like or improved species. If such damage results in the loss of topsoil,
Grantor shall have the right to remove topsoil from other areas of the Property to restore the
damage caused by the natural disaster.
I. Erosion Control. The right to control erosion by the plantin g of grasses or by other
means not inconsistent with the purposes of this Conservation Easement.
J. Composting, Burning, and Storing of Plant Material. The right to compost, burn
(including controlled burning of fields and pastures) or store plant material and vegetative waste
generated by permitted activities and uses and the right to store customary waste generated on
the Property by permitted activities and uses.
K. Leasing. The right to lease all or a portion of the Property for any use permitted
under this Conservation Easement, including hunting as limited herein.
L. Other Vegetation. Grantor expressly reserves the right to plant, cultivate and
maintain, as may be reasonably necessary, various trees, vines, shrubs, grasses, and similar
vegetation on any portion of the Property currently utilized as grassland or pastureland.
M. Compliance with Zoning and Agreements. Grantor expressly reserves the right to
use and improve the Property as necessary to comply with the requirements of any zoning
ordinance applicable to the Property, any agreement between Grantor and the City of Denton,
and any agreement between Hunter Ranch Improvement District No. 1 of Denton County, Texas
and the City of Denton.
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6. Rights of Grantee. Grantee or its authorized representatives, shall have the right to enter
the Property at reasonable times upon notice for the purpose of inspecting the Property to determine if
the Grantor or any of its successors and assigns is complying with the terms, conditions, restrictions, and
Purposes of the Conservation Easement.
7. Liens and Taxes. Grantor shall keep the Property free of any and all liens, including,
without limitation, liens arising out of any work performed for, materials furnished to, or obligations
incurred by Grantor. Grantor shall pay before delinquency all taxes, assessments, fees, and charges of
whatever description levied on or assessed against the Property by competent authority and shall upon
written request by Grantee furnish Grantee with satisfactory evidence of payment.
8. Enforcement. In the event of a breach of this Conservation Easement by Grantor, the
Grantee, any third-party or any third-party working for or under the direction of Grantor or the Grantee,
the Parties shall be notified immediately. Grantor shall have thirty (30) days after receipt of such notice
to undertake actions that are reasonably calculated to correct the conditions constituting the breach. If
the conditions constituting the breach are corrected in a timely and reasonable manner, no further action
shall be warranted or authorized. If the conditions constituting the breach are such that more than thirty
(30) days are required to cure the breach, Grantor shall not be in default hereunder if Grantor undertakes
the cure of such breach during the thirty (30) day period following notice of the breach and diligently
pursues the cure of the breach to completion. If Grantor fails to initiate such corrective action within thirty
(30) days or fails to complete the necessary corrective action, the Grantee may enforce the Conservation
Easement by appropriate legal proceedings, including an action for damages, injunctive and other relief
after mediating the dispute. Notwithstanding the foregoing, the Grantee reserves the immediate right,
without notice, to obtain a temporary restraining order, injunctive relief or other appropriate relief if the
breach of any provision of the Conservation Easement is materially impairing or would irreversibly or
otherwise materially impair the benefits to be derived from the Conservation Easement. Grantor and the
Grantee acknowledge that under such circumstances, damage to the Grantee would be irreparable and
remedies at law will be inadequate. The rights and remedies of the Grantee provided hereunder shall be
in addition to, and not in lieu of, all other rights and remedies available to Grantee in connection with the
Conservation Easement. Any forbearance or failure on the part of the Grantee to exercise its rights in the
event of a violation shall not be deemed or construed to be a waiver of Grantee’s rights hereunder. Nor
shall forbearance or failure to enforce any covenant or provision hereof discharge or invalidate such
covenant or provision or any other covenant, condition, or provision hereof or affect the right to the
Grantee to enforce the same in the event of a subsequent breach or default. Nothing contained in this
Conservation Easement shall be construed to entitle the Grantee to bring any action against Grantor for
any injury to or change in the Property, or for any violation of any covenant or provision of this
Conservation Easement, resulting from any prudent action taken in good faith by Grantor under
emergency conditions to prevent, abate, or mitigate significant injury to life, damage to property or harm
to the Property resulting from any of such causes. Grantor shall not be responsible for, or required to,
remediate any conditions or damage not caused by Grantor, including damage caused by the public or
other third parties. Except in the case of an emergency, neither party shall take any action to institute a
legal proceeding until the parties have conducted a full day mediation with a mutually acceptable
mediator in Dallas, Denton, or Tarrant County.
9. Duration. The burdens of this Conservation Easement shall run with the Property and shall
be enforceable against Grantor and all future interests in and to the Property in perpetuity. Grantor agrees
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that the future transfer or conveyance of any interest in or to the Property shall always be subject and
subordinate to the terms, conditions, restrictions and purposes of the Conservation Easement and a
reference to this Conservation Easement shall be included in each instrument of transfer or conveyance
of any interest in or to the Property from and after the Effective Date.
10. Construction and Maintenance of Permeable Trails.
A. Grantor shall construct permeable trails in and through the Property for use by
the public and the same shall be completed within twelve (12) months after final plats on fifty (50) percent
or more of the property adjoining the Property have been filed in the Real Property Records, Denton
County, Texas. Grantor will cooperate with Grantee regarding the location of the trailheads for the
permeable trails.
B. Grantor shall be responsible for the maintaining the permeable trails it
constructs in and through the Property.
11. General Provisions.
A. Notices. Any notice, request for approval, or other communication required
under this Conservation Easement shall be sent by registered or certified mail, postage prepaid,
to the following addresses (or such address as may be hereafter specified by notice pursuant to
this paragraph):
To Grantor:
To Grantee:
B. Severability. In the event any provision of this Conservation Easement is
determined by the appropriate court to be void and unenforceable, all remaining terms shall
remain valid and binding.
C. Conservation Easement Binding. The terms, covenants, and conditions of this
Conservation Easement shall be binding upon and shall inure to the benefit of Grantor, Grantee
and their respective executors, administrators, heirs, legal representatives, successors and
assigns. Notwithstanding the foregoing, Grantee may assign (i) this Conservation Easement, or (ii)
any rights or interests in this Conservation Easement, with the prior written approval of Grantor
which shall not be unreasonably withheld.
D. Warranty. Grantor warrants, covenants, and represents that it owns the Property
in fee simple, and that Grantor either owns all interests in the Property which may be impaired
by the granting of the Conservation Easement or that there are no outstanding mortgages, tax
liens, encumbrances, or other interests in the Property which have not been expressly
subordinated to the Conservation Easement.
E. Subsequent Transfers. Grantor agrees to incorporate the terms of this
Conservation Easement by reference in any deed or other legal instrument that transfers any
interest in all or any portion of the Property. Grantor agrees to provide written notice of any
transfer at least thirty (30) days prior to the date of the transfer. The parties agree that the terms
of the Conservation Easement shall survive any merger of the fee and easement interests in the
9
Property or any portion thereof and shall not be amended, modified or terminated without the
prior written consent and approval of the parties.
F. Assignment or Transfer. The parties recognize and agree that the benefits of the
Conservation Easement are in gross and assignable by the Grantee upon notice and consent by
Grantor; provided, however, that the Grantee hereby covenants and agrees, that in the event it
transfers or assigns the Conservation Easement, the organization receiving the interest will be a
qualified holder under state law acceptable to Grantor. The Grantee further covenants and agrees
that the terms of the transfer or assignment will be such that the transferee or assignee will be
required to continue in perpetuity the conservation purposes described in this Conservation
Easement.
G. Obligations of Ownership. Grantee shall not be responsible for any costs or
liability of any kind related to the ownership, operation, insurance, upkeep, or maintenance of
the Property, except as expressly provided herein. Nothing herein shall relieve the Grantor of the
obligation to comply with any federal, state, or local laws, regulations and permits that may apply
to the Property in connection with the exercise by Grantor of the Reserved Rights.
H. Extinguishment. If changed conditions render impossible the continued use of the
Property for the conservation purposes as contemplated by this Conservation Easement, the
Conservation Easement may only be extinguished, in whole or in part, by judicial proceeding in
any court of competent jurisdiction.
I. Eminent Domain. Whenever all or any part of the Property is taken in the exercise
of eminent domain to substantially abrogate the restrictions imposed by this Conservation
Easement, the parties shall join in appropriate actions at the time of such taking to recover the
full value of the taking, and all incidental and direct damages due to the taking.
J. Proceeds. The Conservation Easement constitutes a real property interest
immediately vested in Grantee. If all or a portion of the Property is sold, exchanged, or
involuntarily converted following an extinguishment of all or any portion of the Conservation
Easement, or following the exercise of eminent domain, Grantee shall be entitled to the fair
market value of the Conservation Easement. The parties stipulate that the fair market value of
the Conservation Easement shall be determined by multiplying the fair market value of the
Property unencumbered by the Conservation Easement by the ratio of the value of the
Conservation Easement as of the Effective Date to the value of the Property (without deduction
for the value of the Conservation Easement) at the time of this grant. The values as of the Effective
Date and as referenced in this Section 9(l) shall be the values used, or which would have been
used, to calculate a deduction for federal income tax purposes, pursuant to Section 170(h) of the
Internal Revenue Code of 1986, as amended (whether eligible or ineligible for such a deduction).
Grantee shall use its share of any proceeds in a manner consistent with the purposes of the
Conservation Easement.
K. Failure of Grantee. If at any time Grantee is unable or fails to enforce the
Conservation Easement, or if Grantee ceases to be a qualified grantee, and if within a reasonable
period of time after the occurrence of any of such events, Grantee fails to make an assignment of
its interest pursuant to the Conservation Easement, then Grantee’s interest shall become vested
10
in another qualified grantee in accordance with and as provided by an appropriate and final, non-
appealable proceeding in a court of competent jurisdiction to which Grantor is a party.
L. Amendment. This Conservation Easement granted herein may be amended, but
only in a writing signed by the Parties hereto; provided, however, that such amendment does not
affect the qualification of the Conservation Easement or the status of the Grantee under any
applicable laws, is consistent with the conservation purposes of this Conservation Easement
granted herein.
M. Statutory Conservation Easement. The parties expressly agree and understand
that this Conservation Easement is created under, and will be interpreted according to, Chapter
183 (Conservation Easements) of the Texas Natural Resources Code.
N. Re-recording. The Grantee is authorized to record or file any notices or
instruments appropriate to assuring the perpetual enforceability of this Conservation Easement
and Grantee may re-record this instrument at any time as may be required to preserve its rights
in this Easement.
O. Captions. The captions herein have been inserted solely for convenience of
reference and are not a part of this Conservation Easement and shall have no effect upon
construction or interpretation.
P. Counterparts. The parties may execute this instrument in two or more
counterparts, which shall, in the aggregate, be signed by both parties; each counterpart shall be
deemed an original instrument as against any party who has sign ed it. In the event of any disparity
between the counterparts produced, the recorded counterpart shall be controlling.
Q. Reasonableness Standard. The parties shall follow a reasonableness standard and
shall use their best efforts to make any determinations that are necessary or are contemplated to
be made by them either separately or jointly under this Easement in a timely manner and shall
cooperate with one another and shall take all other reasonable action suitable to that end.
R. Controlling Law. The interpretation and performance of this Easement shall be
governed by the laws of the State of Texas.
S. Venue. The parties acknowledge and agree that any and all disputes arising out
of, or relating to, this Conservation Easement will be brought, heard, and determined exclusively
in Denton County, Texas. Both parties consent to venue in such courts and waive and relinquish
any right to assert that any action instituted by the other par ty in any such court is in the improper
venue or should be transferred to a more convenient forum.
T. Further Assurances; Cooperation. After the Effective Date, the parties shall each
execute and deliver such documents and take such other actions as shall be necessary to carry
out the Purposes of the Conservation Easement. Each party covenants and warrants that it shall,
whenever and as often as it shall be reasonably requested to do so by the other party to the
Conservation Easement, execute, acknowledge and deliver, or cause to be executed,
acknowledged and delivered, any and all such further documents and instruments as may be
11
necessary and proper in order to effectuate the intent and purposes of the Conservation
Easement.
U. Entire Agreement. This instrument sets forth the entire agreement of the parties
with respect to the Conservation Easement and supersedes all prior discussions, negotiations,
understandings, or agreements relating to the Easement, all of which are merged herein. No
alteration or variation of this instrument shall be valid or binding unless contained in an
amendment that complies with paragraph L.
V. Effective Date. The parties intend that these restrictions take effect on the day
and year this Easement is recorded in the Denton County Official Records.
TO HAVE AND TO HOLD the Conservation Easement for the purposes herein described, subject,
however, to the matters herein set forth and to all matters of record with respect to the Property, unto
Grantee, its successors and assigns, forever; and Grantor does hereby bind itself, its successors and assigns
to warrant and defend the Conservation Easement and the rights granted herein, unto Grantee, its
successors and assigns, against every person whomsoever lawfully claiming or to claim the same or any
part thereof by, through or under Grantor, but not otherwise.
[SIGNATURES TO FOLLOW ON NEXT PAGE]
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IN WITNESS WHEREOF, the Grantor and Grantee have executed this document on the dates listed
below.
PETRUS INVESTMENT, L.P. , Grantor
a Texas limited partnership
By: PMC Management, L.P.,
a Texas limited partnership,
its general partner
By: Hillwood Development Company, LLC,
a Texas limited liability company,
its general partner
By:
Name:
Title:
STATE OF TEXAS §
§
COUNTY OF DALLAS §
This instrument was acknowledged before me on March ___, 2020 by ___________________,
______________ on behalf of Hillwood Development Company, LLC. as General Partner of PMC
Management, L.P., general partner of Grantor Petrus Investment, L.P.
Notary Public, State of Texas
My Commission Expires: ____________________
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CITY OF DENTON, Grantee
By: T
Todd Hileman, City Manager, under the authority of
Ordinance No. 20-_____________.
ATTEST:
ROSA RIOS, CITY SECRETARY
APPROVED AS TO FORM:
AARON LEAL, CITY ATTORNEY
EXHIBIT A
LEGAL DESCRIPTION
Peloton Job No. HWR18008 Tracking No. TBD
ALLIANCE February 26, 2020
C:\USERS\CHAMILTON\DESKTOP\HWR18008_EA1.DOCX Page 1 of 4
DESCRIPTION OF A
CONSERVATION EASEMENT
Being a tract of land situated in the J. Taft Survey, Abstract Number 1269, Denton County,
Texas and being a portion of that certain tract of land described by deed to Petrus Investment,
L.P. in Document Number 1998-117450, Real Property Records, Denton County, Texas and
being more particularly described by metes and bounds as follows:
COMMENCING at a
THENCE to the POINT OF BEGINNING;
THENCE S 70°57’05”E, 118.23 feet;
THENCE S 51°44’43”E, 86.75 feet;
THENCE S 26°37’29”W, 62.16 feet;
THENCE S 37°44’57”W, 91.64 feet;
THENCE S 18°27’31”E, 32.27 feet;
THENCE S 09°23’50”E, 29.68 feet;
THENCE S 58°04’09”E, 50.51 feet;
THENCE S 02°18’41”W, 28.16 feet;
THENCE S 85°20’44”E, 70.16 feet;
THENCE N 50°43’50”E, 62.90 feet;
THENCE S 74°35’19”E, 72.93 feet;
THENCE S 81°28’52”E, 165.40 feet;
THENCE S 52°39’23”E, 101.75 feet;
THENCE S 21°13’25”W, 125.90 feet;
THENCE S 34°12’54”E, 66.23 feet;
THENCE S 62°19’08”E, 182.38 feet;
THENCE S 37°29’36”E, 172.11 feet;
Peloton Job No. HWR18008 Tracking No. TBD
ALLIANCE February 26, 2020
C:\USERS\CHAMILTON\DESKTOP\HWR18008_EA1.DOCX Page 2 of 4
THENCE S 64°27’00”E, 71.11 feet;
THENCE S 22°45’39”W, 36.56 feet;
THENCE S 42°51’12”E, 41.54 feet;
THENCE S 09°59’58”E, 154.54 feet;
THENCE S 51°57’34”E, 26.46 feet;
THENCE S 12°17’23”E, 32.62 feet;
THENCE S 12°06’25”W, 37.91 feet;
THENCE S 66°41’15”W, 36.38 feet;
THENCE N 88°46’55”W, 40.67 feet;
THENCE S 20°24’21”W, 206.25 feet;
THENCE S 80°30’36”W, 45.66 feet;
THENCE S 62°19’53”W, 56.59 feet;
THENCE S 50°19’55”W, 185.32 feet;
THENCE S 26°46’16”W, 78.29 feet;
THENCE S 43°19’13”W, 134.42 feet;
THENCE S 78°21’31”W, 47.24 feet;
THENCE S 85°08’34”W, 115.45 feet;
THENCE N 44°07’52”W, 128.20 feet;
THENCE N 66°46’28”W, 127.49 feet;
THENCE N 52°56’31”W, 159.22 feet;
THENCE N 44°53’19”W, 170.88 feet;
THENCE N 28°11’33”W, 149.95 feet;
THENCE N 15°26’55”W, 153.04 feet;
Peloton Job No. HWR18008 Tracking No. TBD
ALLIANCE February 26, 2020
C:\USERS\CHAMILTON\DESKTOP\HWR18008_EA1.DOCX Page 3 of 4
THENCE N 03°18’20”W, 280.53 feet;
THENCE N 20°48’14”E, 338.96 feet;
THENCE N 12°51’42”E, 289.48 feet;
THENCE N 32°10’13”E, 189.06 feet to the Point of Beginning and containing 1,268,680
square feet or 29.125 acres of land more or less.
EXHIBIT B
BASELINE DOCUMENTATION REPORT