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HomeMy WebLinkAbout24-1932ORDINANCE NO. 24- 1932 AN ORDINANCE OF THE CITY OF DENTON APPROVING A STRATEGIC PARTNERSHIP AGREEMENT BETWEEN THE CITY OF DENTON AND LEGENDS RANCH MUNICIPAL UTILITY DISTRICT OF DENTON COUNTY; AUTHORIZING AND DIRECTING THE MAYOR OF THE CITY TO EXECUTE THE STRATEGIC PARTNERSHIP AGREEMENT AND PROVIDING AN EFFECTIVE DATE. WHEREAS, on June 28th, 2022, the City Council of the City adopted Ordinance No. 22-859 approving a Development and Consent Agreement and on August 20, 2024, the City Council adopted Ordinance No. 24-781 approving an Amended and Restated Agreement, both of which obligated the District and the City to approve the Strategic Partnership Agreement attached as Exhibit A; and WHEREAS, in compliance with Texas Local Government Code Section 43.0751, notices of publication were published in the Denton Record Chronicle, a newspaper of general circulation in Denton, Denton County, Texas, on September 28, 2024 and October 5, 2024, giving notice of public hearings to be held at Denton City Hall, 215 E. McKinney Street, Denton, Texas on October 15, 2024, and October 22, 2024; and WHEREAS, the City of Denton, Texas and Legends Ranch Municipal Utility District have negotiated a Strategic Partnership Agreement setting forth the terms and conditions for partial annexation of commercial use areas for the sole and exclusive purpose of imposing and collecting sales and use taxes within such districts and for full annexation of all of the property at a future date pursuant to the terms of the agreement, and which contains the District’s consent to such annexation, which Strategic Partnership Agreement is authorized pursuant to the authority of Section 43.0751 of the Texas Local Government Code; and WHEREAS, the Strategic Partnership Agreement, as drafted and attached to the agreement approved by Ordinances No. 22-859 and 24-781, calls for the signature of the Mayor on behalf of the City; and WHEREAS, the City Council finds that it is in the best interest of the City to approve the Strategic Partnership Agreement and authorize and direct the Mayor of the City to execute the Strategic Partnership Agreement; NOW, THEREFORE, THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS: SECTION 1. The above recitals are adopted as findings of the City Council. SECTION 2. The Mayor of the City of Denton is hereby authorized and directed to execute the Strategic Partnership Agreement (a copy of which is incorporated by reference herein and attached hereto as Exhibit A) between the City of Denton, Texas, and Legends Ranch Municipal Utility District of Denton County covering the property more particularly described in the Strategic Partnership Agreement and the owners of the property subject to the agreement. LJIJL/ 1 %/ ll +/• IllV v \\PJ lvlbbllube>vl9 v1 bllv11 b&VbJle>II\dv9 ILP LLVLV\J / b&btbllVll Lb/\A tv VUL L J \JUL LII\'r duties and responsibilities of the City as provided in the Strategic Partnership Agreement. SECTION 4. If any portion of this Ordinance shall be determined to be invalid, the validity does not affect the effectiveness of this Ordinance. SECTION 5. This Ordinance shall become effective immediately upon its passage and In pproval.a The motion to approve this Ordinance was made by Joe Holland and seconded by Brian Beck, the Ordinance was passed and approved by the following vote [ 7 - 0 ]: Aye Nay Abstain Absent Mayor Gerard Hudspeth: X Vicki Byrd, District 1 : X Brian Beck, District 2: X Paul Meltzer, District 3 : X Joe Holland. District 4: X Brandon Chase McGee, At Large Place 5 : X Jill Jester, At Large Place 6: X PASSED AND APPROVED this the 22nd day of October, 2024. ATTEST: LAUREN THODEN, CITY SECRETARY #aLLUL_ APPROVED AS TO LEGAL FORM: MACK REINWAND, CITY ATTORNEY BY:Z+ala,L / bMw !, EXHIBIT A STRATEGIC PARTNERSHIP AGREEMENT BY AND BETWEEN THE CITY OF DENTON, TEXAS AND LEGENDS RANCH MUNICIPAL UTILITY DISTRICT OF DENTON COUNTY STATE OF TEXAS 9 gCOUNTY OF DENTON This Strategic Partnership Agreement (this “Agreement”) is entered into by the City of Denton, Texas (the “City”), and Legends Ranch Municipal Utility District of Denton County, a political subdivision of the State of Texas, acting by and through its duly authorized Board of Directors (the “District”), under the authority of Section 43.0751 of the Texas Local Government Code (the “Local Government Code”). RECITALS WHEREAS, Local Government Code Section 43.0751 (the “Act”) authorizes the City and the District to negotiate and enter into a strategic partnership agreement by mutual consent; and WHEREAS, the District encompasses approximately 521.59 acres, all of which is located within the City’s ex&aterritorial jurisdiction, described by metes and bounds and depicted on Exhibit 'W’ (the “Property”); and WHEREAS, this Agreement authorizes the City to annex certain portions of the Property that have been or may in the future be designated for commercial use for limited purposes for the purpose of collecting Sales and Use Tax Revenues (hereinafter defined) within such tracts designated for Commercial Use and to annex all of the Property for full purposes upon the terms contained herein; and WHEREAS, pursuant to this Agreement, the City will retain fifty percent (50%) of all Sales and Use Tax Revenues (bereinafter defined); and WHEREAS, the City and the District acknowledge that this Agreement provides benefits to each party, including revenue, services and regulatory benefits. NOW, THEREFORE, for and in consideration of the mutual agreements, covenants and conditions contained in this Agreement, and for other good and valuable consideration, the receipt and sufEciency of which are hereby acknowledged, the City and the District agree as follows: 0181'U.000001\489'b 12474389.vI ARTICLE I FINDINGS A. The District is a municipal utility district encompassing approximately 521.59 acres that is located within the City’s extraterritodal judsdictbn. B. The District was created pursuant to Article XVI, Section 59, and Article III, Section 52(b)(3), of the Texas Constitution; C. On June 28, 2022, the City Council adopted Resolution No. 22-1351 consenting to the creation of the District (the “Consent Resolution”). D. The District provided notice of two public hearings concerning the adoption of this Agreement following the District’s notification procedures for other matters of public importance, in accordance with the procedural requirements of the Act. E. The Board of Directors of the District conducted two public hearings regarding this Agreement, at which members of the public who wished to present testimony or evidence regarding this Agreement and the proposed limited purpose annexation were given the opportunity to do so, in accordance with the procedural requirements of the Act, on August 14, 2024, at 12:00 p.m. at the offices of Coats Rose, P.C., 16000 N. Dallas Parkway, Suite 350, Dallas, Texas 75248 and on September 17, 2024, at 12:00 p.m. at the offices of Coats Rose, P.C., 16000 N. Dallas Parkway, Suite 350, Dallas, Texas 75248. F. The Board of Directors of the District approved this Agreement on September 17, 2024, in open session at a meeting held in accordance with Chapter 551 of the Texas Government Code G. The City provided notice of two public hearings concerning the adoption of this Agreement by publishing said notices in a newspaper of general circulation in the City and in the District, in accordance with the procedural requirements of the Act. H. The City Council conducted two public hearings regarding this Agreement, at which members of the public who wished to present testimony or evidence regarding this Agreement and the proposed limited purpose annexation were given the opportunity to do so, in accordance with the procedural requirements of the Act, on October 15 , 2023 at 6:30 p.m. at the City Council Chambers, and onOctober 24 2025 at 6:30 p.m. at the City Council Chambers. I. The City Council approved this Agreement on October 22, 2024, in open session at a meeting held in accordance with Chapter 551 of the Texas Government Code, which approval occurred after the Board of Directors of the District approved this Agreement. 018144.0C>0001\4894- 1 2476389.vI J. All procedural requirements imposed by law for the adoption of this Agreement have been met. K. In accordance with the requirements of Subsection (p)(2) of the Act, this Agreement provides benefits to the City and the District, including revenue, services and regulatory benefits which are reasonable and equitable with regard to the benefits provided to the other. ARTICLE II DEFINITIONS Terms used in this Agreement shall have the following meanings: “Act” means the Texas Local Government Code, Section 43.0751, and any amendments thereto. “Agreement” means this Strategic Partnership Agreement between the City and the District. “Board of Directors” means the Board of Directors of the District. “City” means the City of Denton, Texas, a home rule municipal corporation of the State of Texas. “City Council” means the City Council of the City. “City Share” means the City’s share of the Sales and Use Tax Revenues as defined in Section 4.2 of this Agreement. “Commercial Property” means those certain tracts hereinafter designated for commercial uses, which said tracts are within the City’s ETJ. “Comptroller” means the Comptroller of Public Accounts for the State of Texas. “Consent Resolution” means the City’s Resolution No. 22-1351 consenting to the creation of the District. “Development Agreement” means the Amended and Restated Development Agreement by and between the City, D.R Horton – Texas, Ltd., a Texas limited partnership, and Forestar (USA) Real Estate Group, Inc., a Delaware corporation, effective August 23, 2024, regarding development of the Property. “Distdct” means Legends Ranch Municipal Utility District of Denton County. 0181 +1.000001\4894.1 247-6389.v 1 “District Share” means the District’s share of the Sales and Use Tax Revenues as defined by Section 4.2 of this Agreement. “ETP means the extraterritorial jurisdiction of a city as defined by the Local Govemment Code, as amended. “Effective Date” means the date on which the City adopts this Agreement. “Government Code” means the Texas Government Code, as amended. “Limited Purpose Annexation Period” means the period commencing on the effective date of the limited purpose annexation of the Limited Purpose Property and ending upon the full purpose annexation or disannexation of such property. “Limited Purpose Property” means the property in the District that is within the City’s ETJ and is annexed for limited purposes pursuant to this Agreement. “Local Government Code” means the Texas Local Government Code, as amended. “Notice” means notice as defined in Section 8.1 of this Agreement. “Party” means, individually, the City or the District, their successors and assigns as permitted by Section 8.8 of this Agreement. “Property” means the approximately 521.59 acres within the City’s ex&atenitorial jurisdiction, described by metes and bounds and depicted on Exhibit “A” “Sales and Use Tax Revenues” means those revenues received by the City from the sales and use tax authorized to be imposed by the City on sales consummated at locations within the Limited Purpose Property pursuant to the Act and Chapter 321 of the Tax Code and whose use is not otherwise controlled or regulated, in whole or in part, by another governmental entity, authority or applicable law, ordinance, rule or regulation. “Tax Code” means the Texas Tax Code, as amended. ARTICLE III ADOPTION OF AGREEMENT AND LIMITED PURPOSE ANNEXATION OF COMMERCIAL PROPERTY 3.1 Public Hearings. The District and the City acknowledge and agree that prior to the execution of this Agreement, the governing bodies of the District and the City have conducted two public hearings for the purpose of considering the adoption of this Agreement and that such 01 8 IIU.00000 1\4894.12474389.v 1 hearings were noticed and conducted in accordance with the terms of the Act, this Agreement and Chapter 551 of the Government Code. 3.2 Effective Date. Pursuant to Subsection (c) of the Act, this Agreement is effective on the date of adoption of this Agreement by the City. 3.3 Filing in Property Records. The City shall file this Agreement in the Real Property Records of Denton County, Texas. 3.4 Limited Purpose Annexation of Commercial Property. The District and the City agree that the City may annex all or any portion of the Commercial Property for the limited purpose of collecting Sales and Use Tax Revenues within the Commercial Property pursuant to Subsection (k) of the Act. The District acknowledges that the City Council may adopt one or more limited purpose annexation ordinances at one or more meetings conducted in accordance with Chapter 551 of the Government Code and further acknowledges that no additional notices, hearings or other procedures are required by law in order to approve such limited purpose annexations. The City may annex for limited purposes any portion of the Commercial Property at any time after Owner, or any subsequent owner of the Commercial Property, submits a final plat for such property to the City 3.5 Consent to Limited Purpose Annexation. The District, on behalf of itself and all present and future owners of land within the District, hereby requests that the City annex the Commercial Property for limited purposes as provided in this Agreement. The District consents to such annexation and to the collection of Sales and Use Tax Revenues by the City within such Limited Purpose Property. Such consent shall bind the District and all current and future owners of land within the District. ARTICLE IV TAXATION AND PROVISIONS OF SERVICES 4.1 Collection of Sales and Use Tax Revenues. The City may impose a sales and use tax within the Limited Purpose Property pursuant to Subsection (k) of the Act. The sales and use tax shall be imposed on all eligible commercial activities at the rate of two percent (2%), or other rate allowed under future amendments to Chapter 321 of the Tax Code and imposed by the City. Collection of the Sales and Use Tax Revenues shall take effect on the date described in Section 321.102 of the Tax Code. 4.2 Payment of Sales and Use Tax. In return for the benefits received by the City pursuant to this Agreement, the City shall pay to the District an amount equal to fifty percent (50%) of the Sales and Use Tax Revenues paid to the City as reflected in sales tax reports provided by the Comptroller to the City to be used for any lawful purpose of the District. All amounts payable to the District are hereafter referred to as the “District Share.” The City shall pay the District Share within thirty (30) days after the City receives the payment and the sales tax report reflecting such 0181&t.000001\4894- 12474389.v 1 revenue from the Comptroller. Any payment of the District Share not made within such tthty (30) day period shall bear interest calculated in accordance with Section 2251.025 of the Goverrunent Code. The City shall retain all Sales and Use Tax Revenues that do not constitute the Disaict Share (the “City Share”). To the extent allowed by law, the City shall deliver to the Disuict a condensed version of each monthly area sales tax report provided by the Compaoller, contaiTdng only the contents of the sales tax report relating to retail sales and retailers in the Property wittM thirty (30) days of the City’s receipt of the sales tax report. 4.3 Notification of Comptroller. The City shall send notice of this Agreement, together with other required documentation, to the Comptroller in the manner provided by Section 321.102 of the Tax Code, after the City Council annexes any portion of the Limited Purpose Property for limited purposes. ARTICLE V FULL PURPOSE ANNEXATION 5.1 Full Purpose Annexation and Conversion Date. In accordance with the provisions of Section 43.0751(f)(5) of the Act, the District consents to the full purpose annexation of the District by the City at any time on or after one hundred percent (100%) of the land in the District capable of being developed has been developed with water, sanitary sewer, and drainage facilities and roads (collectively, “Facilities”) and the District has issued its bonds to fully reimburse the developer of such Facilities to the fullest extent allowed under the then current rules of the Texas Commission on Environmental Quality. The City agrees not to annex the District for fUll municipal purposes prior to such time. At least sixty (60) days prior to the date the City intends to annex the District, the City shall provide the District with a written notice of intent to annex the District and the date planned for annexation, which date shall constitute the full purpose annexation conversion date under the Act. The City further agrees that the full purpose annexation of the District by the City is further subject to the limitations contained in the Development Agreement. 5.2 Assumption of District Duties. Prior to the full purpose annexation conversion date, the District remains authorized to exercise all powers and functions of a municipal utility district provided by existing law or any amendments or additions thereto. The District's assets, liabilities, indebtedness, and obligations will remain the responsibility of the District during the period preceding full-purpose annexation and conversion. The District agrees that beginning on the Effective Date and until the full purpose annexation conversion date, the District shall maintain all of its roadway, property and utility in&astructure in good condition and repair. Upon the full purpose annexation conversion date Sections 43.075(c) and (d) of the Act shall apply and, (i) the City shall succeed to the powers, duties, assets, and obligations of the District; and (ii) the City shall take over all the property and other assets of the District, assume all the debts, liabilities, and obligations of the District, and perform all the functions of the District. The City and the District agree to fully comply with all requirements in Section 43.075 of the Texas Local Government Code 0181 'U.000001\489+12473389.vl ARTICLE VI TERM This Agreement commences on the Effective Date and continues until the City annexes all of the Property for full purposes in accordance with the terms hereof The provisions of this Agreement relating to the collection of sales and use tax will automatically terminate with regard to any portion of the Property upon disannexation or full purpose annexation of such property. ARTICLE VII BREACH. NOTICE AND REMEDIES 7.1 Notification of Breach. If either Party commits a breach of this Agreement, the non-breaching Party shall give Notice to the breaching Party that described the breach in reasonable detail. 7.2 Cure of Breach. The breaching Party shall commence curing such breach within fourteen (14) calendar days after receipt of Notice of the breach and shall complete the cure within fourteen (14) calendar days from the date of commencement of the cure; however, if the breach is not reasonable susceptible to cure by the breaching Party within such fourteen (14) day period, the non-breaching Party shall not bring any action so long as the breaching Party has commenced to cure the breach within such fourteen (14) day period and diligently completes the cure within a reasonable time without unreasonable cessation. 7.3 Remedies for Breach. Ifthe breaching Party does not substantially cure such breach within the stated period of time, the non-breaching Party may, in its sole discretion, and without prejudice to any other right under this Agreement, law, or equity, seek relief available at law or in equity, including, but not limited to, an action under the Uniform Declaratory Judgment Act, specific performance, mandamus and injunctive relief; provided, however, the non-breaching Party shall not be entitled to terminate this Agreement. The Parties specifically waive any right that they have or in the future may have to terminate this Agreement. Damages, if any, to which any non-breaching Party may be entitled shall be limited to actual damages and shall not include special or consequential damages. ARTICLE VIII ADDITIONAL PROVISIONS 8.1 Notices. All notices under this Agreement ('Notice”) shall be in writing, shall be signed by or on behalf of the Party giving the Notice, and shall become effective as follows: (a) on the third (3rd) business day after being deposited with the United States mail service, Certified Mail, Return Receipt Requested with a confirming copy sent by facsimile; (b) on the day delivered by private delivery or private messenger service (such as FedEx or UPS) as evidenced by a receipt signed by any person at the delivery address (whether or not such person is the person to whom the Notice is addressed); or (c) otherwise on the day actually received by the person to whom the 01 81 dH.000001\4894- 1 2474389.vI Notice is addressed, including, but not limited to, delivery in persona uld delivery by regplar mail. All Notices given pursuant to this section shall be addressed as follows: To the City:Atm: City Manager City of Denton, Texas 215 E. McKinney St. Denton, TX 76201 With a copy to:AHn: City Attorney City of Denton, Texas 215 E. McKinney St. Denton, TX 76201 To the District:Legends Ranch Municipal Utility District of Denton County Attn: Mindy L. Koehne Coats Rose, P.C. 16000 North Dallas Parkway, Suite 350 Dallas, Texas 75248 8.2 No Waiver. Any failure by a Party to insist upon strict performance by the other Party of any provision of this Agreement shall not be deemed a waiver thereof, and the Party shall have the right at any time thereafter to insist upon strict performance of any and all of the provisions of this Agreement. No provision of this Agreement may be waived except in writing signed by the Party waiving such provision. Any waiver shall be limited to the specific purpose for which it is given. No waiver by any Party hereto of any term or condition of this Agreement shall be deemed or construed to be a waiver of any other term or condition or subsequent waiver of the same term or condition. 8.3 Governing Law and Venue. This Agreement must be construed and enforced in accordance with the laws of the State of Texas, as they apply to contracts performed within the State of Texas and without regard to any choice of law rules or principles to the contrary. The Parties acknowledge that this Agreement is performable in Denton County, Texas, and hereby submit to the jurisdiction of the courts of Denton County, Texas, and agree that any such court with proper jurisdiction shall be a proper forum for the determination of any dispute arising hereunder. 8.4 Authority to Execute. The City warrants that this Agreement has been approved by the City Council in accordance with all applicable public meeting and public notice requirements (including, but not limited to, notices required by the Texas Open Meetings Act) and that the individual executing this Agreement on behalf of the City has been authorized to do so. The District warrants that this Agreement has been approved by the Board in accordance with all applicable public meeting and public notice requirements (including, but not limited to, notices 018 IIU.000001 \4894.12474389.vI required by the Open Meetings Act) and the individual executing this Agreement on behdf of the District has been authorized to do so. 8.5 Entire Agreement; Severability. This Agreement constitutes the entire agreement between the Parties and supersedes all prior agreements, whedrer oral or written9 covering the subject matter of this Agreement. If any provision of this Agreement is determined by a court of competent jurisdiction to be unenforceable for any reason, then (a) such unenforceable provision shall be deleted from this Agreement; (b) the unenforceable provision shall, to the extent possible, be rewritten to be enforceable and to give effect to the intent of the Parties; and (c) the remainder of this Agreement shall remain in full force and effect and shall be interpreted to give effect to the intent of the Parties. 8.6 Changes in State or Federal Law. If any state or federal law changes so as to make it impossible for the City or the District to perform its obligations under this Agreement, the Parties will cooperate to amend this Agreement in such a manner that is most consistent with the original intent of this Agreement and legally possible. 8.7 Additional Documents and Acts. The Parties agree that at any time after execution of this Agreement, they will, upon request of the other Party, execute and/or exchange any other documents necessary to effectuate the terms of this Agreement and perform any further acts as the other Party may reasonably request to effectuate the terms of this Agreement. 8.8 Assignability, Successors and Assigns. This Agreement shall not be assignable by any Party without the other Party’s written consent. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective representatives, successors and assigns. 8.9 Amendment. This Agreement may be amended only by written agreement with approval of the governing bodies of both the City and the District. 8.10 Interpretation. The Parties acknowledge that each Party and, if it so chooses, its counsel, have reviewed and revised this Agreement and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting Party shall not be employed in the interpretation of this Agreement or any amendments or exhibits hereto. As used in this Agreement, the term “including” means “including, without limitation” and the term “days” means calendar days, not business days. Wherever required by the context, the singular shall include the plural, and the plural shall include the singular. Each defined term herein may be used in its singular or plural form whether or not so defined 8.11 No Third-Party Beneficiaries. This Agreement is solely for the benefit of the City and the District. Neither the City nor the District intends by any provision of this Agreement to create any rights in any third-party beneficiaries or to confer any benefit or enforceable rights under this Agreement or otherwise upon anyone other than the City and the District. 018144.000001 \4894.12476389.vI 8.12 Governmental Powers. By execution of this Agreement, neither the City nor the District waives or surrenders any of its respective governmental powers, immunities or rights, except as specifically waived pursuant to this section. The City and the District mutually waive their governmental immunity Rom suit and liability only as to any action brought by a Party to pursue the remedies available under this Agreement and only to the extent necessary to pursue such remedies. Nothing in this section shall waive any claims, defenses or immunities that the City or the District has with respect to suits against the City or the District by persons or entities not a party to this Agreement. Nothing in this Agreement is intended to delegate or impair the performance by the City of its governmental functions, and the City waives any claim or defense that any provision of this Agreement is unenforceable on the grounds that it constitutes an impermissible delegation or impairment of the City’s performance of its governmental functions. 8.13 Incorporation of Exhibits by Reference. All exhibits attached to this Agreement are incorporated into this Agreement by reference for the purposes set forth herein, as follows: Exhibit A Legal Description and Map of Property 8.14 Counterpart Originals. This Agreement may be executed in multiple counterparts, each of which shall be deemed to be an original. [THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 018144.000001\4894-1247-6389.vI CITY OF DENTON, TEXAS Date: 10 IRq 1;IDa+ MayQ B,: dtrl„c,hAM ArrEST ity Secretary eiF/-XF6HbV STATE OF TEXAS COUNTY OF DENTON § § This instrument was al lefot ,f Oo4;bber 2ol+ , by M of Deljton, Texas, on behalf of said :itytIBd e me, the unde,signed notary, CU the, +4+h day Mayor, andBk©h'4hQ&r\, City S gay, of L996L£l L al AJem gaoe-9z'go soildx3 'wuo3 sexeI IO ole iS '9llqnd Aie loN XIU 'm OtU9NIhIne=F for the State of Texas 0181zH.0000C) IU894.1247+389.vI LEGENDS RANCH MUNICIPAL UTILITY DISTRICT Title: Date: STATE OF TEXAS COUNTY OF Dd 1146 § § This instrument was acknowled , by ,ch Municipal Util .ed before ly ofthe undersigned notary, on the said district of the Board of Directors of T;Si in (NOTARY SEAL) 018 1 &1.000001 \4894-1247-6389. vI EXHIBIT “A” The Property BEING a tract of land heated in the Tttotrns J. Egan Sur;ey, Abs&act No. 408, tIn M.EP & P. RR. Co. Survey, Abstract No. 1470, the George On Survey, Absbact No. 985, the VUllbm DavIs SUIvey, Abstract No. 374, and the Thoma Polk SuIvey, Abstract No. 998. City of Denton Ex&aterrttorbl JurisdIctIon (ET.J.), [hn bin County, Tam, part of a called 565.364 8ae trad described in the deed to legends Ranch Dwelopment, LLC, needed in Instrument No. 2016146384 of the OfficIal Rmonls of Denton County, Tms (O.R.D.C.T.), and being nun particularly dwgbed by Knt® and bounds as kilws: BEGINNING at a 1£2Jnch iron nd bund on the w%My Hghtof'wayllneofTtwnas J. Egan R®d (brandy Longhorn Drive), a 2Z5 bot wide rt9tMf-way dodk:alan, a®nfin9 to the plat of Golden Hoof Ranchette9, an addition b Denton County, recorded in Volu#184, Page 8 of the Plat Ruonls of Denton County, Toas {P.RD.G.T.), at the northeast earner of a IC}+lxH wIde dght4fway dedication 8aordlng tD the plat of Lot IRI and IR2 of Golden Hoof R8nchett®, an addition to Denton County, nwrded in Document No. 201& 319 P.R.D.C.T., br a northerly southeast comer of saN 565.364 ure tract and an eastody southeast aomer hernE THENCE North 83'08'15- Wbsl with a northerty south line of said 565.364 aae trac4 and the north line of said ICFRxit nghtx#way dedIcation, the north line of Lot IRI ot saId Let IRI and IR2 of Golden Haof Ranchettes. and the north line of Lot 6. BkxIk A afsakI Golden Hoof RancheR%. a distan08 of 860.54 bet to a 5/&Inch Iron rod with plastic ap stamped -KHA- set in the easterV rtghtof.way IIne of Gc>klan Hoof Drive, a 6C}ant dght4fJway as dedlated accordIng tO the plat of saId Golden Hoof RanchetIBS, br the northwest umar of nhl Late. an Interior mmu of saId 565.384 me trac& and an interior oomet hereae THENCE South oo'264e VWst, wIth the eastetty rightofway IIne of sakI Golden Hoof DrIve, the west line al =H Lot 6, and an east title of $akI 565.38+ un trac& a distance of 417.42 bet to a W+neIl iron nd with plastIc ap stamped 'KHA- set at the begInnIng at a tangent niNe to the left with 8 radius of 367.50 feet, a nntral angle of05'53'a2-, and a chord tearing and distanae of South 02'2 m- Ent 37.72 feet THENCE in a southeastBrty diecHon, departing the easterty right4f'way bIO of said Goklen Hoof Drive, the west IIne of said Lot 6, and east Kneel saId 565.364 awe tIM and crossIng saId Lot 8, with saId tangent alrve to the leE an arc distanae af 37.74 feet to a 51&Inch iron rod wtth plastic ap stamped 'KHA' seth>r oornec THENCE oontinuing mus saId Lot 6 and awsing said 565.364 acre tract the followIng nunn and dlstanus: South 05'2618- East, a d}stanae of lac).54 feet to a 5/Blnch hUI rod with plastIc ap stamped •KHA- set at the beginning of a tangent alrve to the right with a radIus of 432.50 feet a oenbal angle of12'11'0g, and a chord bearing and distanoe of South 00'39'lP VW 91.81 fbet, In a southwe$tetty dlrecHon, wah utd cuive tD the dghl an arc d}$tane8 af 91.98 feet to a 5/&+nch Iron rod wIth plastIc ap stamped 'KHA- set at the utd of saId alrve, South 6'44'51- Vhst, adl8tan08 of 38.a2 fbet ba Wlmfl iron rrxl with plastIc ap stamped -KIIA- seth>room% South 38'lgOg EaU,adlstann af 28.28 bet to aN&Inch MI nxlwtthpl8stkleap stamped -KH# wt on the northerly rbht+fway line of U.S. HlghwW 380, for a 80uth8a8taxrwhereoe THENCE Nutt 83'lgOg VW along the rnrthedy lighter-way line of said U.S. Highway 380, with the eagtBrty south IIne of saId 565.384 am trac& a dlst8n08 af 105.00 feet to a 5/&Inch Iron nH wIth plastic ap stamped -KHA- 9et br the easterty $wthwestwnerh8reot 0181 M.000001\4894.12476389.v 1 THENCE departIng the northerly rtghtof'way line of saId U.S. HIghway 380, aaws said 585.364 acre&3cte the &llawlng oours® and dIstances: North 51'4t51- East, adl8tanw of 28.28 hot to a 5/&inch iron rod wIth plastIc ap stampd -KHA- set hr earner, North 06'44'51- Easl adlstana8 of 36.a2 feet to a 5/&inch Iron rod with plastic ap stamped •KHA- set at the begInning of a tangent alrve b the left wah a radIus of 367.50 M a central angle of 12'11'0g, and a chord bearing and dbtanee of North 00'39'17 East, 78.01 bet, In a nonhmsterty direction, wIth saId cuive to the left, on arc dIstance of 78.IG bet to a 5/&inch iron rod wIth plastic ap stamped -KHA- set at the end of said curve, North 05%'lP Wbsl a dlstanae of loo.54 bet to a WInch Iron rod with plastIc ap stamped -KHA- set at the beginnIng of a tangent UNe to the right wtth a radIus of 432.50 bet a wHral angle of05'53'az, and a chord bearing and distanae af North c12'29'4a West, 44.40 fbet In a northwesterty direction. with saId alrve to the righl an are distanoe of 44.42 feet to a Which iron rod with plastic ap stamped "KHA- set at the end of saId curve, North 00'26'45- East, a di8tanae of 142.96 fbet to a point Rv an interior oomer herwf, North 83'20'3W Wbsl a dIstance of 2,563.89 fbot to a point hr an Interior earner hernE North 00'26'4S' Easl a distanoe of 142.96 feet to a point fbroomec North 83'20'3g Mst, a dlstanoe of 2,563.89 feet to a point fu oem% North 06'44'51- Easl a djgtanae af 11.36 feet to a point for cornec North 83'15'11• Wbsl a dlstanee of 146.29 feet to a point fbroomec North 75'12:4(F West, a distanoe of 345.75 feet to a poInt for comM North 52'4328- Wbsl a distance of 459.57 feet to a poInt for comeR North 83'lS11' VWst, a distanee of 332.29 feet to a point for oomec South oazw4g msl a dIstance of 818+83 bet to a point bt cx>men North 83'15'Og Wbsl a dlstanoe of 42.46 bet to a point Rx earneR soudl 06'44'49’ Msl a disbnc8 af 181.00 bet to a poInt a point on the northerly rightof'way line at said U.S. HIghway 380, a $outhetty line of said 565.364 acre tract br the we8tertY southeast oomerhe©oe THENCE abng ate nofthefty rigITt4f-way IRB of saId U.S. Hbhway 380. wIth southe'ty IInes at saW 565.38+ me tracK the RHlowtng nurse and distarx)e: Nora 83'15'og msl a disbnce af 1,02288 ha b an alumInum TxDOT dghtoFway Knnument bund hr he 80uBleast camel afa called 30.470 we tract of land described in the deed to Larry L BaIley aId spouse, PaMela L. BaIley, nconled InVolurrn 5489, Page 4755 of the Dead Rword8 of Dentijn eau-My, Tms (D.R.D.C.T.-), the 90uth8r8 southwest aomerofsakl 565.364 ae:ie tlact and the $outtwestelly southwest comer hence 018144,000001\4894- 12476389.v 1 HH5g3E:n£!£;;:f:dfsailoITf {FJ%E£t ?!?{h33;4pT8agELtlPg:tIill:ueoLV£yZi:StILLoJan tract desaibed in the deed to Jan K Bradley, recorded l}r'lnsbument No. 9&RO091i8i d.i.i).a: hI the nonh@stnmer of sab 30.470 acre tracE ihe souhelly nor6west comer ots;id-iii:ie,i;c= b;a: and the southerV northwest earner hereoE THENCE North 892740- East with the 90uth line of said 43.92 acre tract and a souherty norM IIne of saId 585-364 aw tract a dIstance of 1075.88 bet to a point on the approxirnate ant9rtine bf ; cre& br-it; :outh east comet of said 43.92 am Back an InteHor comer of$aid'665.384 acre tract and an interior com; THENCE along the 08ntenln8 af said creek, win easbny lines of saId 43.92 acre baR and westerly IInes of said 565.364 acre tract the hIlowing ooursu and dtsiane%: ' ‘ North 54'19'43- Wesl a distance of 225.34 bet b a point hr comec North 6899'24- VW a distance of 449.26 feet to a point br mm% North IP39'OF Mst, a distanae of 543.10 feet to a point for the northeast aomer of said 43.92 acre tract, an interior comer of said $65.364 acre tracX and an interior earner henge THENCE North 8U48'48- Whl wIth the north line of said 43.92 acm tract and a northwesteny south IIne of saId 565.364 acm trac& a dlstan08 of 2092.38 bet to a poInt wIthIn the margIns of NaII Road: in the east line of 8 %IIed 30.297 acre trad of land descdtnd in the deed b Bnx:Hand PropertIes, LLC, recorded in Instrument No. 2017-78184 O.R.D.C.T„ hx the northwest earner of said 43.92 acre trax& the northerly sauthwesteamer of saN 565.364 acre tract. and the northwe8terty southwest corner hereoe a 1/24nch Iron ny &>und for referenoe on the east margIn of said NaII Road bears South 89'48'48" East 18.00 feet bom said point fbrwmec THENCE North 00'13'42- Easl within the margins of said Nail Road, with the east IIne of said 30.297 acre tract and the westernmost west IIne of saId 565.364 acre tract, a distan08 of 631.58 foot to a 1/24nch rod bund in the southeasterty right4fJway Une OfBUningtOn Northern Railroad, on the northwest margIn of said Nail Road, R>r the north comer of saId 30.297 am trac& a northwest corner of saId 565.364 am trac& and a northwest corner hereoe THENCE North 28'4012P East with the southeast Hghtof-way line of said Budin9bn Northern RaIlroad, along the northwe5t nnrgln of said NaII Road. wIth the Northwest line of saId 565.364 acre tract, a distanee of 1,355.15 feet to a poInt withIn the margins of Jackson Road, br the wutelly northwest comer of ad 565.364 acre tract and the westetty northwest comer h8rwe THENCE North 89'32'5g EasE within the margins of said Jackson Road, with the wutelly north line of said 565.364 acre trac& the south IIne of a alted 5.241 acre tract of land described in the deed tD 2018 Stone Family Trust nwrded tn Instrument No. 2018105715 O.R.D.C.T., and the southerly south line of saId a called 298.204 acn tract of land de$crbed in the deed to MeGan St, LLC. recorded in Instruntent No. 201&6215 O.RD.C.T„ a distance of 1748.66 bet to a 1/21nch Iron rod bund br the southerty southeast earner of said 298.204 am bach an intBdor amar of said 565.364 age tract and an IntBrior eom8rhereoe THENCE North 00'5704- East, aonHnulng withIn the ntarBlrn of ukl Jackson Road, with the southwest9ny east line of said 288.204 acre tract, a northerly west IIne of saId 565.38+ aae trad, a dl$tana8 af 138.80 feet to a 1124nch iron rod bund itir the southwest corner of a alled 10.00 acre ead descrIbed in the deed to Russell Mark Sales and with Shelly Ann SaIw, recorded in Instrument No. 9&R0030700 O.RD.C.T., the north8mmost northwest oomer of saId 565.364 acre &act and the northemnwt northwest corner hereoE THENCE North 89'14'2tF EasL continuing within the margins of said Jackson Road, with the south line of saId 10.000 acre Sales BaR the south line of a alled 10.00 acre tract of land duaibed in the deed to 018 1 'H.00000]W894. 12474389.vI JImmy Leo Gnrzler ncxxrfed in Ingtrurrnttt No. 8&+10082430 O.RLD.C.T„ and a north KIn of 88ld 585.384 we baR a dislana8 af 2597.71 feet to a 1/2qnch iron rod buIld br the southwest mint of a albd 1:A 8arB trad d88ctib8d h the deed to Jarrn6 T. AddIng&xI and wtb, Carol L Addingtrxl, mcxxrled in Vdlurn 811, Page 288 D.RD.G.T„ at an angle poInt in said north IIne of called 565.3&t we tract md an angle poInt in a north line hueoe THENCE North 8P6Z07 East, ®ntlnulng wtthln the margins of saId Jackson Road, wIth a north IIne of saId 665.38+ 8ae haQ the saIth IIne of said 134 acre trac& the 8wth lille of Lot 1, BkxR Aaf Connolly AddItIon, an addttkxt tD DerttDn County, as shown on the plat mcxxded tn CXx:unnnt No. 201741 P.R.D.C.T_ and the south IIne of a aU8d 10.036 we bad deMInd in the dud to Ira Sam Houston and wtb, Heled Marie Houston, rmM8d in Volurrn 1239, Page 617 D.R.D.C.T., a distanoo af 2285.85 bet b a 1/24nch tron nd buIld br the rnrtltwest oorner ot tIto dghtoFway d8dk;atbn at the ktteneclk>n of Jackson Road and Tttorrw J. Egan Road axxxdlng to the plat of Bent Rails AddRbn an addItIon tD the City of Denton ET.J., recorded as [Xx:urrnnt No. 2(12t>67 P.RD.C.T., the northeast cannot said 665.384 we tract and the northeast oomw Iterwe THENCE allah OO'1952T VM, within the margins of8aid Tharrw J. Egan Road, wIth the rtorthedy east line of saId 565.381 8a8 tIal& the wwt IIne of the 32.Mx# rbhtot'way dedk:ation Rx Tharla8 J. Egan Road @eodlng b the pta at 88bd Bent RaIls AddItIon, the west line of a called 5.134 acre tract of land de6atbed in hi deed to Cesar ConnIe Pegrmw and wtb, Grtcdda Tw8r<3alwn Gonza1% reelalIIed In tn8bum8nt No. 2013€2287 O.RD.C.T.. the west tIme at a caIM 175 8ae tract of land described in the deed to Claude H. SmIth needed in Volume 382, Page 311 D.R.D.C.T., the west IIne of awtabb8 wIdth r©ht4fway d8dlc8Hon br Thomas J. Egan RmI 80aoRltng to the plat of MoIulo A£ldtBan, an addItIon to the CIty of -Denton E.T.J., naMed in tXiurrnnt No. 2a2cb38 P.R.D.C.T.. the west IIne of a caIM 30 aaB b8ctd&saib8d in he deed b VIckIe MunIex:k Iwnled in Instrurrunt No. 2004 80800 O.R.D.C.T„ and the westerly west Eno of a callod 6.000 we tmd d®cttlred in the deed to Brandon Munled nunled tn tn8burriont No. 201745842 O.R.D.C.T.. a dl8tane8 af 3028.84 hd to a PK naII bund at the northeast ootrtu of tIn dght4fJway dedk:8tlon at the htemclion afTutd8rtlXX Trail and saId Thomas J. EW Road (bmndy Lnnghom Drtve) aaaonlbtg to the plat of $eid Gc>klan Hoof R8rtchea% br a northerly southeast mIner if uRl–585.384 we tract and a north8rty nuthe8d oomw her80e THENCE NOrM 83'08'lg msl with the mthaty rtghtofJway dod tatton for saId Tortderfwt TraII, and a nortterty 80uh lino of saId 565.364 aae tru& a dishnao of 19.64 feet b a 1/24mh Iron rod bund fu an interior oomer af saId 585.384 am tract and an tntettor maw helooE THENCE South oo'294e VM, 8aw saId Terxletknt TraII, with a southerly %gt line of saId 686.W aaetra£& tIn e8$tlhteafBkxk Aot saId Goklen Hoof Ranchett88, tIn we$trtghtofway IIm of 8akl Thomas J. Egm Road (hrm8dy Innghom DrIve) a di8tanoe af 834.84 bet to the POIHT OF BEGINNING and oont81nhU 621 Jg aau of land, mae or bss. 01 81'H.000C>01U894-12474389.v 1