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HomeMy WebLinkAbout2001-019S \Our Documonts\Ordinances\01\Burch Real Estate Ordinance doc ORDINANCE NO - 671 q AN ORDINANCE APPROVING A REAL ESTATE CONTRACT BETWEEN THE CITY OF DENTON AND MARVIN C (MC) BURCH, RICHARD LEE BURCH, AND NELDA GRACE (BURCH) HACKETT RELATING TO THE PURCHASE OF 2 ACRES OF LAND AND A 0136 ACRE ACCESS EASEMENT LOCATED IN THE J SEVERE SURVEY, ABSTRACT NO 1164, FOR USE AS AN ELECTRIC SUBSTATION AND RELATED PURPOSES, AUTHORIZING THE EXPENDITURE OF FUNDS THEREFOR, AND PROVIDING AN EFFECTIVE DATE THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS SECTION 1 The City Manager is hereby authorized to execute a Real Estate Contract between the City of Denton and Marvin C (M C ) Burch, Richard Lee Burch and Nelda Grace (Burch) Hackett in substantially the form of the Real Estate Contract which is attached to and made a part of this ordinance for all purposes, for the purchase of approximately 2 acres of land and a 0 136 acre access easement for use for use as an electric substation and related purposes SECTION 2 The City Manager is authorized to make the expenditures as set forth in the attached Real Estate Contract SECTION 3 This ordinance shall become effective immediately upon its passage and approval PASSED AND APPROVED this the day of 2001 EULINE BROCK, MAYOR ATTEST JENNIFER WALTERS, CITY SECRETARY BY AP OVED AS TO LEGAL FORM HERBERT L PROUTY, CITY ATTORNEY MIA REAL ESTATE CONTRACT STATE OF TEXAS COUNTY OF DENTON THIS CONTRACT OF SALE is made by and between Marvin C (M C ) Burch, Richard Lee Burch, and Nelda Grace (Burch) Hackett (hereinafter referred to as "Seller") and CITY OF DENTON, TEXAS, a home rule municipality, of Denton, Denton County, Texas, (hereinafter referred to as "Purchaser"), upon the terms and conditions set forth herein PURCHASE AND SALE Seller hereby sells and agrees to convey, and Purchaser hereby purchases and agrees to pay for all that certain tract, lot or parcel of land described in "Exhibit A", attached herewith, together with all rights and appurtenances pertaining to the said property, including any right, title and interest of Seller in and to adjacent streets alleys or rights -of -way (all of such real property, rights, and appurtenances being hereinafter referred to as the "Property"), together with any improvements, fixtures, and personal property situated on and attached to the Property, for the consideration and upon and subject to the terms, provisions, and conditions hereinafter set forth Seller reserves all oil, gas and other minerals on, in, or under the tracts described in "Exhibit A" and "Exhibit B", attached herewith, provided that Seller shall have no right of ingress or egress to surface of the Property described in "Exhibit A" and shall have no right for surface development involving the extraction of said oil, gas and other minerals In addition any extraction of such oil, gas and other minerals shall not interfere with Purchaser's use and enjoyment of the Property described in "Exhibit A" In addition, the Seller hereby sells and agrees to convey, and Purchaser hereby purchases and agrees to pay for an ingress/egress easement within all that certain tract, lot or parcel of land described in "Exhibit B", attached herewith, hereinafter referred to as the "Easement" PURCHASE PRICE Amount of Purchase Price The purchase price for the Property shall be the sum of Eighty -Seven Thousand One Hundred and Twenty Dollars and No Cents ($87,120 00) The purchase price for the Easement shall be the sum of Five Thousand Nine Hundred and Twenty -Four Dollars and No Cents ($5,924 00) The total Purchase Price shall be Ninety -Three Thousand Forty -Four Dollars and No Cents($93,044 00) moment of Purchase Price The full amount of the Purchase Price shall be payable in cash at the closing Page 1 of 9 PURCHASER'S OBLIGATIONS The obligations of Purchaser hereunder to consummate the transactions contemplated hereby are subject to the satisfaction of each of the following conditions any of which may be waived in whole or in part by Purchaser at or prior to the closing Prelimmary Title Report Within twenty (20) days after the date hereof, Purchaser, at Purchaser's sole cost and expense, shall have caused the Title Company (hereinafter defined) to issue an owner's policy commitment (the "Commitment") accompanied by copies of all recorded documents relating to easements, rights -of -way, etc , affecting the Property Purchaser shall give Seller written notice on or before the expiration of ten (10) days after Purchaser receives the Commitment that the condition of title as set forth in the Commitment is or is not satisfactory In the event Purchaser states the condition of title is not satisfactory, Seller shall, at Seller's option, promptly undertake to eliminate or modify all unacceptable matters to the reasonable satisfaction of Purchaser Purchaser understands that Seller is under no obligation to cure any title defects complained of by Purchaser stated in Purchaser's written notice to Seller as provided in this paragraph In the event Seller is unable to do so within ten (10) days after receipt of written notice, Purchaser, at its option may elect to terminate this Agreement (in which event this Agreement shall be null and void), grant Seller additional time to cure, or proceed to closing Survey Purchaser may, at Purchaser's sole cost and expense, obtain a current survey of the Property, prepared by a duly licensed Texas land surveyor acceptable to Purchaser The survey shall be staked on the ground, and shall show the location of all improvements, highways, streets, roads, railroads, rivers, creeks, or other water courses, fences, easements, and nghts-of-way on or adjacent to the Property, if any, and shall contain the surveyor's certification that there are no encroachments on the Property and shall set forth the number of total acres comprising the Property, together with a metes and bounds description thereof Purchaser will have ten (10) days after receipt of the survey to review and approve the survey In the event the survey is unacceptable, then Purchaser shall within the ten (10) day period, give Seller written notice of this fact Seller shall, at Seller's option, promptly undertake to eliminate or modify the unacceptable portions of the survey to the reasonable satisfactions of Purchaser In the event Seller is unable to do so within ten (10) days after receipt of written notice, Purchaser, at its option may elect Page 2 of 9 to terminate this Agreement (in which event this Agreement shall be null and void), grant Seller additional time to cure, or proceed to closing Studies Purchaser shall have forty-five (45) days after the date hereof (herein called the "Inspection Period") to enter upon the Property, and to have caused authorized representatives of the Purchaser to enter upon the Property, to perform a physical inspection of the Property Purchaser shall makes its inspections in good faith and with due diligence Seller hereby reserves the right to have a representative present at the of making any such inspection In the event Purchaser determines, in Purchaser's sole and absolute discretion, that the property is deficient in any respect, Purchaser may (as its sole and exclusive remedy) terminate this Agreement by notice in writing to the Seller at any time during the Inspection Period In the event of such termination, the parties shall have no further right or obligation hereunder, except those rights and obligations that survive termination Upon expiration of the Inspection Period, Purchaser shall be deemed to have accepted the Property in its present condition 3 Platting Requirements Purchaser shall bear all costs and expenses associated with the platting requirements associated with the Seller's conveyance of the tract described in "Exhibit A" Any consent by the Seller that may be necessary to complete said platting requirements shall not be unreasonably withheld 4 Seller's Compliance Seller shall have performed, observed, and complied with all of the covenants, agreements, and conditions required by this Agreement to be performed, observed, and complied with by Seller prior to or as of the closing REPRESENTATIONS AND WARRANTIES OF SELLER Seller hereby represents and warrants to purchaser, to the best of its current knowledge, as follows, which representations and warranties shall be deemed made by Seller to Purchaser also as of the closing date 1 There are no parties in possession of any portion of the Property as lessees, tenants at sufferance, or trespassers, except for the existing oil and gaslease 2 Except for the prior actions of Purchaser, there is no pending or threatened condemnation or similar proceeding or assessment or suit, affecting title to the Property, or any part thereof, nor to the best knowledge and belief of Seller is any such proceeding or assessment contemplated by any governmental authority Page 3 of 9 3 Seller has complied with all applicable laws, ordinances, regulations, statutes, rules and restrictions relating to the Property or any part thereof To the best of the Seller's knowledge, there are no toxic or hazardous wastes or materials on or within the Property Such toxic or hazardous wastes or materials include, but are not limited to, hazardous materials or wastes as same are defined by the Resource Conservation and Recovery Act (RCRA), as amended, and the Comprehensive Environmental Response Compensation and Liability Act (CERCLA), as amended Seller hereby grants the City of Denton and or its designee formal permission to enter Seller's property in order to perform such field surveying activities to establish boundaries and monuments necessary to consummate the above -mentioned real property purchase transaction CLOSING The closing shall be held at the office of First American Title Company (the "Title Company"), 300 North Elm Street, Denton, Texas, 76201 on or before January 31`h, 2001 (which date is herein referred to as the "closing date") The closing date may be extended by mutual agreement of the parties CLOSING REQUIREMENTS Seller's Requirements At the closing Seller shall A Deliver to Purchaser a duly executed and acknowledged General Warranty Deed conveying good and marketable title in fee simple to all of the Property, free and clear of any and all liens, encumbrances, conditions, assessments, and restrictions, except for the following General real estate taxes for the year of closing and subsequent years not yet due and payable, and Any exceptions approved by Purchaser pursuant to Purchaser's Obligations hereof, and Any exceptions approved by Purchaser in writing B Deliver to Purchaser a Texas owner's Policy of Title Insurance at Purchaser's sole expense, issued by First American Title Company, Denton, Texas, (the "Title Company"), in Purchaser's Page 4 of 9 favor in the full amount of the purchase price, insuring Purchaser's fee simple title to the Property subject only to those title exceptions listed in Closing Requirements hereof, such other exceptions as may be approved in writing by Purchaser, and the standard printed exceptions contained in the usual form of Texas Owner's Policy of Title Insurance, provided, however The boundary and survey exceptions shall be deleted if required by Purchaser, and if so required, the costs associated with same shall be borne by Seller, 2 The exception as to restrictive covenants shall be endorsed "None of Record", The exception as to liens encumbering the Property shall be endorsed "None of Record" other than those set forth in "Purchaser's Obligations" 4 The exception for taxes shall be limited to the year of closing and shall be endorsed "not yet due and payable" C Deliver to Purchaser possession of the Property on the day of closing 2 Purchaser's Requirements Purchaser shall pay the consideration as referenced in the "Purchase Price" section of this contract at Closing in immediately available funds Closing Costs Seller shall pay all taxes assessed by any tax jurisdiction through the date of the Closing All other costs and expenses of closing in consummating the sale and purchase of the Property not specifically allocated herein shall be paid by Purchaser, except for Seller's attorney fees REAL ESTATE COMMISSION Any real estate commissions occasioned by the consummation of this Agreement shall be the sole responsibility of Seller, to the extent Seller has agreed to pay any such real estate commission in writing, and Seller agrees to indemnify and hold Purchaser harmless from any and all claims for any such commissions Page 5 of 9 BREACH BY SELLER In the event Seller shall fail to fully and timely perform any of its obligations hereunder or shall fail to consummate the sale of the Property except Purchaser's default, Purchaser as its sole and exclusive remedy may either enforce specific performance of this Agreement or terminate this Agreement by written notice delivered to Seller BREACH BY PURCHASER In the event Purchaser should fail to consummate the purchase of the Property, the conditions to Purchaser's obligations set forth in PURCHASER'S OBLIGATIONS having been satisfied and Purchaser being in default, Seller as its sole and exclusive remedy may enforce specific performance of this Agreement, or terminate this Agreement by written notice delivered to Purchaser MISCELLANEOUS PROVISIONS Assignment of Agreement This Agreement may not be assigned by Purchaser without the express written consent of Seller 2 Survival of Covenants Any of the representations, warranties, covenants, and agreements of the parties, as well as any rights and benefits of the parties, pertaining to a period of time following the closing of the transactions contemplated hereby shall survive the closing and shall not be merged therein Survival of Covenants shall terminate one (1) year after the date of closing Notice Any notice required or permitted to be delivered hereunder shall be deemed received when sent by United States mail, postage prepaid, certified marl, return receipt requested, addressed to Seller or Purchaser, as the case may be, at the address set forth beneath the signature of the party Seller's agent for purposes of notice shall be Richard Lee Burch Texas Law to Apply This Agreement shall be construed under and in accordance with the laws of the State of Texas, and all obligations of the parties created hereunder are performable in Denton County, Texas Parties Bound This Agreement shall be binding upon and inure to the benefit of the parties and their respective legal representatives, successors and assigns where permitted by this Agreement Legal Construction In case any one or more of the provisions contained in this Agreement shall for any reason be held to be invalid, illegal, or unenforceable in any respect, said invalidity, illegality, or unenforceabilrty Page 6 of 9 shall not affect any other provision hereof, and this Agreement shall be construed as if the invalid, illegal, or unenforceable provision had never been contained herein 7 Prior Agreements Superseded This Agreement constitutes the sole and only agreement of the parties and supersedes any prior understandings or written or oral agreements between the parties respecting the within subject matter 8 Time of Essence Time is of the essence in this Agreement Gender Words of any gender used in this Agreement shall be held and construed to include any other gender, and words in the singular number shall be held to include the plural, and vice versa, unless the context requires otherwise 10 Compliance In accordance with the requirements of the Texas Real Estate License Act, Purchaser is hereby advised that it should be furnished with or obtain a policy of title insurance or Purchaser should have the abstract covering the Property examined by an attorney of Purchaser's own selection 11 Time Limit In the event a fully executed copy of this Agreement has not been returned to Purchaser within ten (10) days after Purchaser executes this Agreement and delivers same to Seller, Purchaser shall have the right to terminate this Agreement upon written notice to Seller DATED this Z (,0 day of 6, , 2000 ATTEST JENK EM PURCHASER THE CITY OF DENTON,, TEXAS BY"/,Y&/X 4 !')ffthael W�Jez / r City Maria er U 215 E McKinney Dehton, Texas 76201 Page 7 of 9 APPROVED AS TO LEGAL FORM HERBERT L PYRC1TY, CITVKTTORNEY m SELLER ;;�91 -- arum (M4)yBur&476� SELLER Richard Lee Burch SELLER o1 90ONI Ne a Grace (Burch) Hackett ACKNOWLEDGMENT THE STATE OFTRAS § COUNTY OFDFMT-0tA § This instrument was acknowledged before me on !Y'T08Q 2 (e 2000 by Marvin C (M C ) Burch Notary Pu hc, mad for the Late of Texas ANOELAM MIZELL My Commission Expires (n- (^ Notary Public State of Texas My Commission Expires $f,�4. June 0, 2001 Page 8 of 9 ACKNOWLEDGMENT THE STATE OF� § COUNTY OF (Any-- § This instrument was acknowledged bef re me on \ )� 19� 3 l�1 2000 by Richard Lee Burch �`-'' Notary Public, in and for the State of Texas " y OFFICIAL SEAL My Commission Expires.(Q CHER;LASUTHERLAND u NOTA Y PUBLIC•OREGON ON NO 31022 MYCOMMSSIONCOMMISSIEXPIRES JU Y5,2002 ACKNOWLEDGMENT THE STATE OF '7k § COUNTY OFvt� § This instrument was acknowled ed before me on by Nelda Grace (Burch) Hackett T4,' RD H KELSEY NOTARY PUBLIC S d e of Texas .. am Lai. 02/01/2001 Seller's Address 2601 Buckingham Drive Denton, Texas 76209 ,TyPublic, in and for the State of micas Commission Expires 9)- O I - G I Page 9 of 9 ME EXHIBIT A 2 00 Acre Tract Field notes to all that certain tract of land situated in the J Serve survey abstract number 1164, Denton County, Texas And being a portion of the called 60 3/4 acre tract described in the deed from Don B Mcklurkan to V D Burch recorded in Volume 239 Page 191 Deed Records of Denton County, Texas, the Subject tract being more particularly describe as follows Commencing at a Concrete monument found being North 35 Degrees 57 minutes East a distance of 3 2 feet from the Northwest corner of a tract of land described in the deed from Donald Gaston to John Jeffries recorded by County Clerk file number 94-R0010473 Real Property Records of Denton County, Texas, and being the beginning of a curve to the Right having a Radius of 3719 60 feet, Thence with said curve to the right having an Arc length of 480 83 feet and a Chord bearing of North 39 Degrees 34 Minutes 30 Seconds East a distance of 480 49 feet along the South Right-of-way line of U S Highway 377 to the Point of Beginning of the herem described tract of land and the beginning of a curve to the right having a radius of 3719 60 feet, Thence with said curve to the right having an arc length of 24 72 feet and a Chord hearing of North 39 Degrees 34 Minutes 30 Seconds East a distance of 24 72 feet along the South right-of-way line of said U S Highway 377, Thence North 43 Degrees 19 Minutes 55 Seconds East, Along the South Right-of-way of said U S Highway 377 a distance of 154 38 feet, Thence South 70 Degrees 13 Minutes 27 Seconds East along the South line of the called 4 96 acre tract of land described in the deed from V D Burch to State of Texas recorded in Volume 289 Page 164 Deed Records of said County, a distance of 288 12 feet, Thence South 17 Degrees 28 Minutes 02 Seconds West a distance of 226 67 feet, Thence South 88 Degrees 52 Minutes 25 Seconds West along the South line of an Easement and Right-of-way to Texas Municipal Power Agency recorded in Volume 1141 Page 128 Real property Records of said County, a distance of 23169 feet, Thence North 26 Degrees 38 Minutes 33 Seconds East a distance of 210 23 feet to the Point of Beginning and containing in all 2 00 acres of land EXHIBIT B 30' ACCESS EASEMENT Field notes to all that certain tract of land situated in the J Serve survey abstract number 1164, Denton County, Texas And being a part of the called 60 3/4 acre tract described in the deed from Don B Mcklurkan to V D Burch recorded in Volume 239 Page 191 Deed Records of Denton County, Texas, the Subject tract being more particularly describe as follows Commencmg at a Concrete monument found being North 35 Degrees 57 minutes East a distance of 3 2 feet from the Northwest corner of a tract of land described in the deed from Donald Gaston to John Jeffries recorded by County Clerk file number 94-R0010473 Real Property Records of Denton County, Texas, Thence Along a curve to the right having an Arc length of 480 83 feet and a radius of 3719 60 feet and a Chord bearing of North 39 Degrees 34 Minutes 30 Seconds East a distance of 424 04 feet along the South Right-of-way line of said U S Highway 377 to the Point of Beginning of the herein described tract and being the beginning of a curve to the right having a radius of 3719 60 feet, Thence with said curve to the right having an arc length of 32 07 feet and a chord bearing of North 39 Degrees 34 Minutes 30 Seconds East a distance of 32 07 feet along the South Right-of-way line of said U S Highway 377, Thence South 26 Degrees 38 Minutes 33 Seconds West a distance of 210 23 feet, Thence South 88 Degrees 52 Minutes 25 Seconds East along the South line of an Easement and Right-of-way to Texas Municipal Power Agency recorded in Volume 1141 Page 128 Real property Records of said County a distance of 33 24 feet, Thence South 26 Degrees 38 Minutes 33 Seconds East a distance of 184 57 feet to the Point of Beginning ing and containing in all 0 136 acres of land 4115 a 2 2 3 L¢ 0� �50-�jFAT CO RELEASE OF LIEN Date: February 3--, 2001 Note: Date: July 31, 1985 Original Amount: THIRTY-EIGHT THOUSAND FIVE HUNDRED THIRTY-NINE AND 92/100 ($39,539.12) Maker: Hankins, Powers, Eastup & Deaton , a Professional Corporation Payee: Marvin C. Burch, Individually and as Independent Executor of the Estate of Grace Ann Burch Date of Maturity: April 25, 1996 Holder of Note and Lien. Hankins, Powers, Eastup & Deaton, a Professional Corporation Holder's Mailing Address: 902 North Locust Street Denton, Texas 76201 Note and Lien Are Described in the Following Documents, Recorded in: Volume 1690, Page 0007 in the Real Property Records of Denton County, Texas Holder of the note acknowledges its payment and releases the property from the lien and from all liens held by Holder of the note and lien without regard to how they were created or evidenced. Holder of the note and lien expressly release all present and future rights to establish and enforce the lien as security for the payment of any future or other advances When the context requires, singular nouns and pronouns include the plural Executed this day o�eb�ary 2001. By: z Robert H. Hankins, President STATE OF TEXAS COUNTY OF DENTON a This instrument was acknowledged before me on the i day of February, 2001 by Robert H. Hankins. -- �-�'-� PAULAJOHARE Notar Public, State of Texas ao:ABYPuOUC.STTEOFTIYA Notary's Name: 1,fa/A Ta f/NR� �rcommiaionegxnto4iaoa Notary's commission expires: Return to: City Hall West 221 North Elm Street Denton, Texas 76201 Attn: Paul Williamson Right -of -Way Agent l EXHIBIT A 4775 02235 2 000 ACRES FIELD NOTES to all that certain tract of land situated in the W Roark Survey Abstract Number 1087 and the J Severe Survey Abstract Number 1164, Denton County, Texas and being a part of the called 192 5 acre tract described in the deed from Richard F Dolgener et al to V D Burch recorded in Volume 298, Page 137, a part of the called 60 3/4 acre Second Tract and part of the called 10 acre Third Tract described in the deed from Don B McKlurkan et al to V D Burch recorded in Volume 239, Page 191 of the Deed Records of Denton County, Texas, the subject tract being more particularly described as follows BEGINNING for the Westerly Northwest comer of the tract being described herein on the Southeast right-of-way of U S Highway 377 an arc length of 402 57 feet (chord bearing North 39 Degrees 26 Minutes 19 Seconds East a distance of 455 83 feet) from a concrete right-of-way monument at it's intersection with the South line of the said 10 acre Third tract, THENCE Northeasterly with the Southeast right-of-way of U S Highway 377 along the arc of a curve to the right having a radius of 3,719 60 feet, an arc length of 24 70 feet (chord bearing North 43 Degrees 08 Minutes 30 Seconds East a distance of 24 70 feet) to a 1/2 inch iron rod found at the end of the said curve, THENCE North 43 Degrees 19 Minutes 55 Seconds East continuing with the Southeast right-of-way of U S Highway 377 crossing the East line of the 192 5 acre tract and the West line of the 60 3/4 acre Second Tract and continuing, in all, a total distance of 154 38 feet to a 1/2 inch iron rod set for the Northwest corner of the Herein described tract, THENCE South 70 Degrees 13 Minutes 27 Seconds East across the said 60 3/4 acre Second Tract a distance of 288 12 feet to a 1/2 inch iron rod set for the Northeast comer of the herein described tract, THENCE South 17 Degrees 28 Minutes 02 Seconds West crossing the South line of the 60 3/4 acre Second Tract and the North line of the 10 acre Third tract and contimung in all, a total distance of 226 67 feet to a 1/2 inch iron led set on the South line of an easement to Texas Municipal Power Agency iecorded in Volume 1141, Page 128 of the said Deed Records, THENCE South 88 Degrees 52 Minutes 25 Seconds West with the South line of the said Texas Municipal Power Agency easement a distance of 264 92 feet to a 1/2 inch iron rod set for the Smulhwest corncnof the herein described tract Jai I I THENCE North 26 Degrees 38 Minutes 33 Seconds West crossing the North line of the 10 acre Third Trkt and the South line of the said 192 5 acre tract and continuing, in all, a total distance of 210,26 feet to the PLACE OF BEGINNING and enclosing 2 000 acres of land j ' J 10 4115 022 3)6 i 11 � Fl f.F IS i „� o n. Dr �m r DeDDnc a�Ioco nM.ma ye s l lil� Lf H DMON COUNTY TEXAS DENTFIN C�JNTYcoTX in: CYNTHIA MITCHkLL, COUNTY CLERK On Feb 14 2001 At 3:59pm Receipt #1 7221 Recording: 7.00 Doc/Mgmt s 6.00 Doc/Num s 2001-R0013448 Doc/Type • REL Deputy -Jennifer 4 115 02229 INGRESS / EGRESS EASEMENT "- TCO THE STATE OF TEXAS 5 5 KNOW ALL MEN BY THESE PRESENTS. COUNTY OF DENTON § V 1-1 '1V THAT Marvin (M.0 ) Burch, Richard Lee Burch and Nelda Grace (Burch) Hackett (hereinafter referred to as GRANTOR collectively), of Denton County, Texas, in consideration of the sum of Five - Thousand Nine -Hundred and Twenty -Four Dollars and No Cents ($5,924.00) and other good and valuable consideration in hand paid by the City of Denton, Texas (GRANTEE), receipt of which is hereby acknowledged, does by these presents grant, bargain, sell and convey unto the City of Denton, Texas, the free and uninterrupted use, liberty and privilege of the passage in, along, upon and across the following described property, owned by them and situated in Denton County, Texas, in the W. Roark Survey, Abstract No 1087 and the J. Severe Survey, Abstract No 1164. ALL that certain tract of land situated in the W Roark Survey Abstract Number 1087 and the J. Severe Survey Abstract Number 1164, Denton County, Texas and being a part of the called 192.5 acre tract described in the deed from Richard F Dolgener at al to V D Burch recorded in Volume 248, Page 137 and part of the called 10 acre Third Tract described in the deed from Don B McKlurkan et al to V. D. Burch recorded in Volume 239, Page 191 of the of the Deed Records of Denton County, Texas; the subject easement being more particularly described as follows: BEGINNING for the Northeast corner of the tract being described herein at a 1/2 inch iron rod set on the Southeast right-of-way of U. S. Highway 377 at the Northwest corner of the 2.000 acre tract described above and being an are length of 402.57 feet (chord bearing North 39 Degrees 26 Minutes 19 Seconds East a distance of 455.83 feet) from a concrete right-of-way monument at the Page 1 of 4 4775 02230 intersection of the Southeast right-of-way with the South line of the said 10 acre Third tracts THENCE South 26 Degrees 38 Minutes 33 Seconds East with the West line of the 2.000 acre tract a distance of 210.26 feet to a 1/2 inch iron rod set for the Southwest corner thereof on the South line of an easement described to Texas Municipal Power Agency recorded in Volume 1141, Page 128 of the said Deed Records; THENCE South 88 Degrees 52 Minutes 25 Seconds West with the South line of the said Texas Municipal Power Agency easement a distance of 33.24 feet; THENCE North 26 Degrees 38 Minutes 33 Seconds West across the 192.5 acre tract, 30 feet Southwest of and parallel with the West line of the 2.000 acre tract, a distance of 184.63 feet to the Southeast right-of-way of U. S. Highway 377; THENCE Northeasterly with the Southeast right-of-way of U. S. Highway 377 along the arc of a curve to the right having a radius of 3,719.60 feet, an arc length of 32.06 feet (chord bearing North 42 Degrees 42 Minutes 16 Seconds East a distance of 32.06 feet) to the PLACE OF BEGINNING and enclosing 0.136 of an acre of land. And it is further agreed that the City of Denton, Texas in consideration of the benefits above set out, will remove from the property above described, such fences, buildings and other obstructions as may now be found upon said property. For the purpose of ingress and egress in, along, upon and across said premises, with the right and privilege at all times of the GRANTEE herein, his or its agents, employees, workmen and representatives having ingress, egress, and regress in, along, upon and across said premises or any part thereof. GRANTEE shall have the right to grade, pave and maintain pavement improvements at GRANTEE,s discretion within the above - described tract but is under no obligation to do so GRANTOR shall have the right to grade, pave and maintain pavement improvements Page 2 of 4 4775 32231 at GRANTOR's discretion within the above -described tract but is under no obligation to do so. GRANTOR shall not be liable for damages to pavement improvements installed at GRANTEE's discretion. GRANTEE shall not be liable for damages to pavement improvements installed at GRANTOR's discretion. TO HAVE AND TO HOLD unto the said City of Denton, Texas as aforesaid for the purposes aforesaid the premises above described. witness our hands, this the � day of 2001 GRANTOR: BY: ) Marvin (M.0 ) Burch BY: d� Richard Lee Burch BY: '1 \ jjL \ •, .� '\ham""' Nelda Grace (Burch) Hackett Page 3 of 4 4775 02232 ACKNOWLEDGMENT STATE OF TEXAS 5 COUNTY OF DENTON Q This instrument was acknowledged before me on-�U/U.1 2001 by Marvin (M.C.) Burch. LISA CAE HINES ltary Public, in and for the State of Texas Notary Public, State of Texas Gy Commission Expires. My Comnussion Expses 12.19 2002 ACKNOWLEDGMENT STATE OF TEXAS 5 COUNTY OF DENTON 5 This instrument was acknowledged before me on 2001 Richard Lee Burch. LISA CAE HINES 1 Notary Public, State of Texas My Commission E*res 12.19-2002 STATE OF TEXAS COUNTY OF DENTON Notary Public, 1.n and -for the State of Texas My Commission Expires. S This instrument was acknowledged before me on 2001 by Nelda Grace (Burch) Hackett. I ACKNOWLEDGMENT USA CAE HINES 't� NotaryPub0c,StateolTexaTT0 ary Public, in and for the State of Texas `-' My,Commission5oresl2-1920pjty Commission Expires: , I Page 4 of 4 Retun(Ta, PXAL WILc-IAMS064 4775 02233 City Of Denton En � i Qom Sans oria�tion Dept 2D2 MjTM76201 Attention' {{{ Po LAN �� I fii1N u na IllsNude vupl.nlh. r i �r iHaoi ��nvi»o� ��o Irv{ni Ienlo 0me FEB 14 2001 '`/'may`.} � M1ip�,` C Dula CLERK 4 `>�`+ DEN TON COUNTY TEXAS DfiAJ89 18GNTYcoTX :n: CYNTHIA MITCHE`LL, COUNTY CLERK On Feb 14 2001 At 3:59pm Receipt B: 7221 Recording: 11.00 Doc/Mgmt : 6.00 : 2001—R00EAS47 Doc/Nuupe Deputy —Jennifer CA �VA 4115 CASH WARRANTY DEED Date. February 7, 2001 Grantor: Marvin C. (M.C.) Burch, Richard Lee Burch, and Nelda Grace (Burch) Hackett 2601 Buckingham Drive Denton, Texas 76209 Grantee: City of Denton 02224 FATCC Grantee's Mailing Address (including county) City of Denton 221 North Elm Street Denton, Texas 76201 Denton, County Consideration: TEN DOLLARS AND N0/100 and other good and valuable consideration. Property (including any improvements): All those certain tracts of land being situated in the W. Roark Survey, Abstract No. 1087 and the J Severe Survey, Abstract No. 1164, Denton County, Texas and being more particularly described in "EXHIBIT All attached hereto and by this reference being made a part hereof for all purposes Reservations From and Exceptions to Conveyance and Warranty: Easements, rights -of -way, and prescriptive rights, whether of record or not; all presently recorded instruments, other than liens and conveyances, that affect the property; taxes for the current year, the payment of which GRANTEE assumes. GRANTOR, hereby reserves all oil, gas and other minerals on, in, or under the tract described in "EXHIBIT All. GRANTOR acknowledges that GRANTOR and or GRANTOR's heirs, executors, administrators and successors shall have no right of ingress or egress to the surface of the Property described In "EXHIBIT A" and shall have no right for surface development involving the extraction of said oil, gas and other minerals and In addition any Page 1 of 3 Li775 02225 extraction of such oil, gas and other minerals shall not interfere with the Grantee's use and enjoyment of the Property described in "Exhibit All. GRANTOR, for the consideration, receipt of which is hereby acknowledged, and subject to the reservations from and exceptions to conveyance and warranty, grants, sells and conveys to Grantee the property, together with all and singular the rights and appurtenances thereto in any wise belonging, to have and to hold it to GRANTEE, GRANTEE'S heirs, executor, administrators, successors or assigns forever. GRANTOR binds GRANTOR and GRANTOR'S heirs, executors, administrators and successors to warrant and forever defend all and singular the property to GRANTEE and GRANTEE'S heirs, executors, administrators, successors and assigns against every person whomsoever lawfully claiming or to claim the same or any part thereof, except as to the reservations from and exceptions to conveyance and warranty. When the context requires, singular nouns and pronouns include the plural. iTT •' BY: , Ma vin (M.C.) Burch BY • P( ; .7i. Richard Lee Burch Nelda Grace (Burch) Hackett Page 2 of 3 4775 02226 ACKNOWLEDGMENT STATE OF TEXAS § COUNTY OF DENTON § This instrument was acknowledged before me on 2001 by Marvin (M.C.) Burch. '�°�Y �'' LISA CAE NINES otary Public, in and �` y Commission Expires: ,� �, ,� Notary public, State of Texas +a„ -� My Commission Expires 12 19 2002 ACKNOWLEDGMENT STATE OF TEXAS § COUNTY OF DENTON § the State of Texas This instrument was acknowledged before me on 2001 Richard Lee Burch. i Notary Public, in and R LISA CAE NINES My Commission Expires Notary Pubhc, State of Texas My Commtsslon fxplres 12.19 2002 ACKNOWLEDGMENT r the State of Texas STATE OF TEXAS § COUNTY OF DENTON § This instrument was acknowledged before me on 2001 by Nelda Grace (Burch) Hackett. ��"'y LISA CAE HINES 3 Notary Public, State of Texas MyCommissionDpires12.19-2002N tlqeA- M-V 11N, ary Public, in and Commission Expires. the State of Texas Page 3 of 3 EXHIBIT A 2 000 ACRES FIELD NOTES to all that certain tract of land situated in the W Roark Survey Abstract Number 1087 and the J Severe Survey Abstract Number 1164, Denton County, Texas and being a part of the called 192 5 acre tract described in the deed from Richard F Dolgener et al to V D Burch recorded in Volume 288, Page 137, a part of the called 60 3/4 acre Second Tract and part of the called 10 acre Third Tract described in the deed from Don B McKlurkan et al to V D Burch recorded in Volume 239, Page 191 of the Deed Records of Denton County, Texas, the subject tract being more particularly described as follows BEGINNING for the Westerly Northwest corner of the tract being described herein on the Southeast right-of-way of U S Highway 377 an arc length of 402 57 feet (chord bearing North 39 Degrees 26 Minutes 19 Seconds East a distance of 455 83 feet) from a concrete nght-of-way monument at it's intersection with the South line of the said 10 acre Third tract, THENCE Northeasterly with the Southeast nght-of-way of U S Highway 377 along the arc of a curve to the right having a radius of 3,719 60 feet, an arc length of 24 70 feet (chord bearing North 43 Degrees 08 Minutes 30 Seconds East a distance of 24 70 feet) to a 1/2 inch iron rod found at the end of the said curve, THENCE North 43 Degrees 19 Minutes 55 Seconds East continuing with the Southeast nght-of-way of U S Highway 377 crossing the East line of the 192 5 acre tract and the West line of the 60 3/4 acre Second Tract and continuing, in all, a total distance of 154 38 feet to a 1/2 inch iron rod set for the Northwest corner of the herein described tract, THENCE South 70 Degrees 13 Minutes 27 Seconds East across the said 60 3/4 acre Second Tract a distance of 288 12 feet to a 1/2 inch iron rod set for the Northeast corner of the herein described tract, THENCE South 17 Degrees 28 Minutes 02 Seconds West crossing the South line of the 60 3/4 acre Second Tract and the North line of the 10 acre Third tract and continuing, in all, a total distance of 226 67 feet to a 1/2 inch iron rod set on the South line of an easement to Texas Municipal Power Agency recorded in Volume 1141, Page 128 of the said Deed Records, THENCE South 88 Degrees 52 Minutes 25 Seconds West with the South line of the said Texas Municipal Power Agency easement a distance of 264 92 feet to a 1/2 inch iron rod set for the Southwest corner of the herein described tract, THENCE North 26 Degrees 38 Minutes 33 Seconds West crossing the North line of the 10 ace Third Tract and the South line of the said 192 5 acre tract and continuing, in all, a total distance of 210 26 feet to the PLACE OF BEGINNING and enclosing 2 000 acres of land Return To fAyL WlLG iAtASorJ 4775 02228 City Df Denton En nleeriq& Transp0TWon Dept 221(�®Tt In Street Dentp, Texas 76201 Attention, S II Ply ali O q r l l A l �nr u Il14ft 11 I t HU1��B rl 111 IIJ 11 II 11414✓ GaIY a IV ix `CC i l 2001 �iloa L �� DEN FON COUNTY TEXA% CYNTHIA MITCHELL, COUNTY CLERK On Feb 14 2001 At 3:59pm Receipt #: 7221 Recording: 11.00 Doc/Mgmt : 6.00 Doc/Num : 2001-R0013446 Doc/Type • WD Deputy -Jennifer 4115 02220 AFFIDAVIT OF NONPRODUCTION The State of Texas County of Denton () I�i I 4,S The undersigned, Marvin C Burch aka M C Burch, Richard Lee Burch, and Nelda Grace Burch, having knowledge of the facts hereinafter stated and being familiar with that certain real property described in Exhibit "A" and that certain oil, gas and mineral lease by and between V D Burch, etux and Harry C Trentman, Jr filed January 18,1955, in Volume 405, Page 247, /f Q Deed Records of Denton County, Texas, and that certain oil, gas and mineral lease by and4p4(— 00 between , t "That I am owner of said property described in Exhibit "A", and that there has not ever been any production of oil, gas or other minerals from said property, or production of oil and gas or other minerals from said property has ceased and the rental payments required to keep the lease in effect have not been paid to the lessor under the lease, and the lease has been terminated or the term of the lease has expired " The undersigned make these representations and warranties with knowledge that First American Title Insurance Company of Texas and the buyer of said property, is acting in reliance on such representations and warranties Executed this 9th day of February, 2001 Marva C Burch aka M C Burch Richard Lee Burch Nelda Grace Burch HaL&I 4775 02221 L.ISA CAE HINES NotaryPublic State of TexaS My Commission Expires 12 19-2002 State of Texas County of Denton 9th day of February, 2001 Notary Public, State This instrument was acluiowledged before me on February 9, 2001, by Marvin C Burch aka M C Burch, Richard Lee Burch and Nelda Grace Burch HA-44 i 1-SA CAE HINES !/ Notary Public, State of Texas f e My Commission Expires 12.19 2002qql- After_ Recording \Return \to Notary Public, State of e EXHIBIT A 4775 02222 2 000 ACRES FIELD NOTES to all that certain tract of land situated in the W Roark Survey Abstract Number 1087 and the J Severe Survey Abstract Number 1164, Denton County, Texas and being a part of the called 192 5 acre tract described in the deed from Richard F Dolgener et al to V D Burch recorded in Volume 298, Page 137, a part of the called 60 3/4 acre Second Tract and part of the called 10 acre Third Tract described in the deed from Don B McKlurkan et al to V D Burch recorded in Volume 239, Page 191 of the Deed Records of Denton County, Texas, the subject tract being more particularly described as follows BEGINNING for the Westerly Northwest comer of the tract being described herein on the Southeast right-of-way of U S Highway 377 an arc length of 402 57 feet (chord bearing North 39 Degrees 26 Minutes 19 Seconds East a distance of 455 83 feet) from a concrete right-of-way monument at it's intersection with the South line of the said 10 acre Third tract, THENCE Northeasterly with the Southeast right-of-way of U S Highway 377 along the arc of a curve to the right having a radius of 3,719 60 feet, an arc length of 24 70 feet (chord bearing North 43 Degrees 08 Minutes 30 Seconds East a distance of 24 70 feet) to a 1/2 inch iron rod found at the end of the said curve, THENCE North 43 Degrees 19 Minutes 55 Seconds East continuing with the Southeast right-of-way of U S Highway 377 crossing the East line of the 192 5 acre tract and the West line of the 60 3/4 acre Second Tract and continuing, in all, a total distance of 154 38 feet to a 1/2 inch iron rod set for the Northwest corner of the herein described tract, THENCE South 70 Degrees 13 Minutes 27 Seconds East across the said 60 3/4 acre Second Tract a distance of 288 12 feet to a 1/2 inch iron rod set for the Northeast corner of the herein described tract, THENCE South 17 Degrees 28 Minutes 02 Seconds West crossing the South line of the 60 3/4 acre Second Tract and the North line of the 10 acre Third tract and continuing in all, a total distance of 226 67 feet to a 1/2 inch iron rod set on the South line of an easement to Texas Municipal Power Agency recorded in Volume 1141, Page 128 of the said Deed Records, THENCE South 88 Degrees 52 Minutes 25 Seconds West with the South line of the said Texas Municipal, Power Agency easement a distance of 264 92 feet to a 1/2 inch iron rod set for the Southwest corner of the herein described tract, THENCE North 26 Degrees 38 Minutes 33 Seconds West crossing the North line of the 10 acre Third Tract and the South line of the said 192 5 acre tract and continuing, in all, a total d}'stance of 210 26 feet to the PLACE OF BEGINNING and enclosing 2 000 acres of land 4775 02223 IN, r r w, r n ur n n a tuwr r u r tab rr onlW v��letn ter ............n rir rotmrM roa rti nnn ry At rr t urr FED 14 2001 kill cO V C4FRW'DEN fON COUNTY TEXAS Filed for Record in: DENTON COUNTY TX CYNTHIA MITCHI COUNTY CLERK On Feb 14 2001 At 3:59pe Receipt IN: 7221 Recording: 9.00 Doc/Numt : 2001-R0013445 Doc/Type • AFF Deputy -Jennifer First American Title Insurance Company of Texas 506818 Q OWNER POLICY OF TITLE INSURANCE Issued by FIRST AMERICAN TITLE INSURANCE COMPANY OF TEXAS SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, FIRST AMERICAN TITLE INSURANCE COMPANY OF TEXAS , a Texas corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by reason of 1 Title to the estate or interest described in Schedule A being vested other than as stated therein, s § 2 Any defadt in of, lien or encambramepn the title, d1 3 Any',atalalory or constitutional mechame's, contractor's or materialman'a lien for labor or material having its inception on or before Date of Policy, f 4 Lack of a right of access to and frgm(16 lead; 5 Lack of good and indefeasible tltle� A f r} t The Company also will pay the costs, attorneys fees and expenses incurred in defense of the title as insured, but only to the extent provided in the Conditions and Stipulations IN WITNESS HEREOF the FIRST AMERICAN TITLE INSURANCE COMPANY OF TEXAS has caused this policy to be executed by its President under the 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Jo lowed Aug Jo pull alp Jo Owl Jo suOlsuawlp DIP ul wInga IT in dlgsnumo m uonvedas IT (111) pull DIP uo pauala Jayg1104 Jo moo InWanwdwl An 10 uonrwl ITT suonuawlp JOIDmeED Uyl (ll) pug, DIP Jo PuawAofua 10 asn Aauednow a41 (I) y 8m)e,w wo SunlgT4wd BmwlnSw BwuuPsw (suonrinow Jo saaueslpwo Smell Suluoz pug Sulpltnq 01 pauwq Ton wg 8ulpn,au) uoneP IRW Imuawwan08 Jo ODUOUIPJ0 mrl Auy (r) I Jo uara Aq Due gmgm sauWxa In sail sx r,W, stew ISmuep in sso, 414 IOU pIm Auedwoo WIT PUP AmPOd STgl Jo 38e34n03 41P wwJ ppnlaxD AISswdxa we siant, BtomoTToJ aql 3OVMHA0J WO)id SN0IS(17JX3 TEXAS OWNER POLICY OF TITLE INSURANCE SCHEDULE A Issued simultaneous with Policy No cash Policy No 5068180 GF No 01003034-021-JSJ DATE OF POLICY February 14, 2001 at 3 59 pm 1 Name of Insured City of Denton 2 The estate or interest in the land that is covered by this policy is Fee Simple 3 Title to the estate or interest in the land is insured as vested in City of Denton 4 The land referred to in this policy is described as follows See Exhibit A attached hereto and made a part hereof First American Title Ins. Co of Texas Amount of Insurance $ 93,044 00 Premium $940 00 First American Title Insurance Company of Texas Texas Owner T 1 (Rev 1-1 93) Schedule A Valid Only if Schedule B and Cover are attached SCHEDULE B GF No 01003034 Policy No 5068180 This policy does not insure against loss or damage (and the Company will not pay costs, attorney's fees or expenses) that arise by reason of the terms and conditions of the leases or easements insured, if any, shown in Schedule A and the following matters 1 The following restrictive covenants of record itemized below (the Company must either insert specific recording data or delete this exception) 1 Item No 1, Schedule B, is hereby deleted 2 shortages in area 3 Homestead or community property or survivorship rights, if any, of any spouse of any insured 4 Any titles or rights asserted by anyone, including but not limited to, persons, the public, corporations, governments or other entities, a to tidelands, or lands comprising the shores or beds of navigable or perennial rivers and streams, lakes, bays, gulfs or oceans, or b to lands beyond the line of the harbor or bulkhead lines as established or changed by any government, or c to filled -in lands, or artificial islands, or d to statutory water rights, including riparian rights, or e to the area extending from the line of mean low tide to the line of vegetation or the right of access to that area or easement along and across that area 5 Standby fees, taxes and assessments by any taxing authority for the year 2001, and subsequent years, and subsequent taxes and assessments by any taxing authority for prior years due to change in land usage or ownership, but not those taxes or assessments for prior years because of an exemption granted to a previous owner of the property under Section 11 13, Texas Tax Code, or because of improvements not assessed for a previous tax year 6 The following matters and all terms of the documents creating or offering evidence of the matters (the Company must insert matters or delete this exception) a Visible and apparent easements on or across property described in Schedule A b Any portion of subject property lying within the boundaries of a public or private roadway whether dedicated or not c Rights of Parties in Possession d Rights of tenants, as tenants only, under unrecorded leases or rental agreements e Easement To The State of Texas Recorded January 8, 1941, Volume 289, Page 164, Real Property Records, Denton County, Texas f Easement To Texas Power and Light Company Recorded April 21, 1956, Volume 421, Page 101, Real Property Records, Denton County, Texas First American Title Ins Co of Texas First American Title Insurance Company of Texas Texas Owner T 1 (Rev 12 30 99) - Schedule B Valid Only if Schedule A and Cover are attached SCHEDULE B - continued File No 01003034 Policy No 5068180 g Easement To Texas Power and Light Company Recorded March 26, 1968, Volume 563, Page 80, Real Property Records, Denton County, Texas It Easement To Texas Power and Light Company Recorded March 26, 1968, Volume 563, Page 82, Real Property Records, Denton County, Texas i Easement To Southwestern Gas Pipeline, Inc Recorded June 28, 1968, Volume 568, Page 312, Real Property Records, Denton County, Texas Easement To Texas Power and Light Company Recorded May 6, 1982, Volume 1141, Page 128, Real Property Records, Denton County, Texas k Easement To The City of Denton Recorded August 27, 1984, Volume 1472, Page 327, Real Property Records, Denton County, Texas I Easement To The City of Denton Recorded April 16, 1993, Clerk's File No 93-R0022522, Real Property Records, Denton County, Texas in Easement To The City of Denton Recorded November 7, 2000, Volume 4712, Page 478, (Clerk's File No 00-R00107840), Real Property Records, Denton County, Texas n Boundary Line Agreement By and Between M C Burch and Robert Skipworth, et al Recorded May 29, 1973, Volume 675, Page 228, Real Property Records, Denton County, Texas o Oil, Gas and Mineral Lease, and all terms, conditions and stipulations therein Recorded January 18, 1955, Volume 405, Page 247, Real Property Records, Denton County, Texas Lessor V D Burch, et ux Lessee Harry C Trentrnan, Jr Title to said interest has not been investigated subsequent to the date of the aforesaid instrument p Oil, Gas and Mineral Lease, and all terms, conditions and stipulations therein Recorded April 25, 2000, Volume 4575, Page 1477, Real Property Records, Denton County, Texas Lessor Marvin C Burch, et al SCHEDULE B - continued File No 01003034 Policy No 5068180 Lessee Roger A Soape, Inc Title to said interest has not been investigated subsequent to the date of the aforesaid instrument q Rights to oil, gas and other minerals of every kind and character in, on and under the property described in Schedule A First American Title Ins. Co of Texas By JIL A""'/�V� Authonzed Countersignature (/aim) Exhibit A FIELD NOTES to all that certain tract of land situated in the W Roark Survey Abstract Number 1087 and the J Severe Survey Abstract Number 1164, Denton County, Texas and being a part of the called 192 5 acre tract described in the deed from Richard F Dolgener et al to V. D. Burch recorded in Volume 238, Page 137, a part of the called 60 3/4 acre Second Tract and part of the called 10 acre Third Tract described in the deed from Don B McKlurkan et al to V D Burch recorded in Volume 239, Page 191 of the Deed Records of Denton County, Texas, the subject tract being more particularly described as follows BEGINNING for the Westerly Northwest corner of the tract being described herein on the Southeast right-of-way of U S Highway 377 an arc length of 402 57 feet (chord bearing North 39 Degrees 26 Minutes 19 Seconds East a distance of 455 83 feet) from a concrete right-of-way monument at it's intersection with the South line of the said 10 acre Third tract, THENCE Northeasterly with the Southeast right-of-way of U. S. Highway 377 along the arc of a curve to the right having a radius of 3,719 60 feet, an arc length of 24 70 feet (chord bearing North 43 Degrees 08 Minutes 30 Seconds East a distance of 24 70 feet) to a 1/2 inch iron rod found at the end of the said curve, THENCE North 43 Degrees 19 Minutes 55 Seconds East continuing with the Southeast right-of-way of U S Highway 377 crossing the East line of the 192.5 acre tract and the West line of the 60 3/4 acre Second Tract and continuing, in all, a total distance of 154 38 feet to a 1/2 inch iron rod set for the Northwest corner of the herein described tract, THENCE South 70 Degrees 13 Minutes 27 Seconds East across the said 60 3/4 acre Second Tract a distance of 288 12 feet to a 1/2 inch iron rod set for the Northeast corner of the herein described tract, THENCE South 17'Degrees 28 Minutes 02 Seconds West crossing the South line of the 60 3/4 acre Second Tract and the North line of the 10 acre Third tract and continuing, in all, a total distance of 226 67 feet to a 1/2 inch iron rod set on the South line of an easement to Texas Municipal Power Agency recorded in Volume 1141, Page 128 of the said Deed Records, THENCE South 88 Degrees 52 Minutes 25 Seconds West with the South line of the said Texas Municipal Power Agency easement a distance of 264 92 feet to a 1/2 inch iron rod set for the Southwest corner of the herein described tract, THENCE North 26 Degrees 38 Minutes 33 Seconds West crossing the North line of the 10 acre Third Tract and the South line of the said 192 5 acre tract and continuing, in all, a total distance of 210 26 feet to the PLACE OF BEGINNING and enclosing 2 000 acres of land 30 FOOT INGRES$IEGRESS EASEMENT TRACT II FIELD NOTES to all that certain tract of land situated in the W Roark Survey Abstract Number 1087 and the J Severe Survey Abstract Number 1164, Denton County, Texas and being a part of the called 192 5 acre tract described in the deed from Richard F Dolgener et al to V. D Burch recorded in Volume 238, Page 137 and part of the called 10 acre Third Tract described in the deed from Don B. McKlurkan et al to V D Burch recorded in Volume 239, Page 191 of the of the Deed Records of Denton County, Texas; the subject easement being more particularly described as follows BEGINNING for the Northeast corner of the tract being described herein at a 1/2 inch iron rod set on the Southeast right-of- way of U S Highway 377 at the Northwest corner of the 2 000 acre tract described above and being an are length of 402 57 feet (chord bearing North 39 Degrees 26 Minutes 19 Seconds East a distance of 455 83 feet) from a concrete right-of-way monument at the intersection of the Southeast right-of-way with the South line of the said 10 acre Third tract, THENCE South 26 Degrees 38 Minutes 33 Seconds East with the West line of the 2 000 acre tract a distance of 210 26 feet to a 1/2 inch iron rod set for the Southwest corner thereof on the South line of an easement described to Texas Municipal Power Agency recorded in Volume 1141, Page 128 of the said Deed Records, THENCE South 88 Degrees 52 Minutes 25 Seconds West with the South line of the said Texas Municipal Power Agency easement a distance of 33.24 feet, THENCE North 26 Degrees 38 Minutes 33 Seconds West across the 192 5 acre tract, 30 feet Southwest of and parallel with the West line of the 2 000 acre tract, a distance of 184.63 feet to the Southeast right-of-way of U S Highway 377, THENCE Northeasterly with the Southeast right-of-way of U S. Highway 377 along the are of a curve to the right having a radius of 3,719 60 feet, an are length of 32 06 feet (chord bearing North 42 Degrees 42 Minutes 16 Seconds East a distance of 32 06 feet) to the PLACE OF BEGINNING and enclosing 0 136 of an acre of land March 5, 2001 City of Denton 221 N Elm Denton, Texas 76201 Re Our File No 01003034 Property Address Dear Homeowner Enclosed is your Owner Policy of Title Insurance Tills policy contains important information about the real estate transaction you have just completed, it is your guarantee of ownership Please read it and retain it with your other valuable papers A complete and permanent file of the records concerning your transaction will be maintained in our office under the above assigned file number These records will assure prompt processing of future title orders and save valuable time should you wish to sell or obtain a loan on your property Visit or call any one at our offices and simply give them your personal file number We appreciate the opportunity of serving you and will be glad to assist you in any way in regard to your future escrow or title service needs It is not mandatory, but it is your responsibility to render your property to the respective taxing authorities to assure proper mailing of future tax notices Again, thank you Sincerely, Jrt Americ itl Texas Teri Gramer Enclosure TG/saot FIRST AMERICAN TITLE INSURANCE COMPANY OF TEXAS 201 Main Street, Suite 900 Fort Worth, TX 76102 Phone (817)335-8333 FAX (817)338-1316 did The Company shall have the right at its own cost to test ate and prosecute any action or proceeding or to do any other act that in its opinion may be necessary or desirable to establish the title to the estate or interest as Insured or to prevent or reduce loss or damage to the insured The Company rosy take any appropriate action under the terms of this policy whether or not it shall be liable hereunder and shall not thereby concede liability or waive any provision of this policy If the Company shall exercise its rights under this paragraph it shall do so diligently (c) Whenever the Company shall have brought an action or Interposed a defense as required or permnred by the provisions of this policy the Company may pursue any litigation to final determination by a court of competent )unsdicnon and expressly reserves the right in its sole discretion to appeal from any adverse judgment or order (d) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding the insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding and all appeals therein and permit the Company to use at its option the name of the insured for this purpose Wherever requested by the Company the insured at the Company s expense shall give the Company all reasonable ail (I) in any action or proceeding securing evidence obtatmng witnesses prosecuting or defending the When or proceeding or effecting settlement and (it) in any other lawful act therm the opinion of the Company may be necessary or desirable to establish the title to the estate or interest as insured If the Company is prejudiced by the failure of the insured to furnish the required cooperation the Company a obligations to the insured under the policy shall terminate including any liability or obligation to defend prosecute or continue any litigation with regard to the meter or movers requiring such cooperation 5 PROOF OF LOSS OR DAMAGE In addition to and after the nouces required under Smuon 3 of these Conditions and Stipulations have been provided the Company a proof of loss or damage signed and sworn to by the insured claunant shall be famished to the Company within 91 days afar the insured claimant shall ascertain the facts giving rise to the loss or damage The proof of loss or damage shall describe the defect in or lien or encumbrance on the tide or other matter insured against by this policy that consumes the basis of loss or damageland shall sate to the extent possible the basis of calculating the amount of the loss or damage If the Company is prejudiced by the failure of the insured claimant to provide the required proof of loss or damage the Company s obligations to the insured under the policy shall untrom a including any liability or obligation to defend prosecute or continue any litigation with regard to the matter or inners requiring such proof of loss or damage In addition the insured claimant may reasonably be required to submit to examination under oath by any authorized representative of the Company and shall produce for examination inspection and copying at such reasonable times and places as may be designated by any authorized representative of the Company all records books ledgers checks correspondence and memoranda whether bearing a date before or after Date of Policy which reasonably pertain to the loss or damage Further if requested by any authorised representative of the Company the insured claimant shall grant its permission in wrung for any authorized representative of the Company to examine inspect and copy all records books ledgers checks correspondence and memoranda in the ustody or control of a third party which reasonably pertain to the loss or damage All information designated as confidential by the insured claimant provided to the Company pursuant to this Section shall not be disclosed to others unless In the reasonable judgment of the Company it is necessary in the administration of the claim Failure of the insured claimant to submit for examination under oath produce other reasonably requested information or grant permission to secure reasonably necessary information from third parties as required in this paragraph shall terminate any liability of the Company under this policy as to that claim 6 OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS TERMINAf1ON OF LIABILITY In case of a claim under this policy the Company shall have the following additional options (a) To Pay or Tender Payment of the Amount of Insurance To pay or tender payment of the amount of insurance under this policy together with any costs attorneys fees and expenses incurred by the insured claimant which were amhoraed by the Company up to the time of payment or tender of payment and which the Company is obligated to pay Upon the eseruse by the Company of this option all liability and obligamns to the insured under this policy other than to make the payment required shall terminate Including any liability or obligation to defend prosecute or continue any litigation and the policy shall be surrendered to the Company for cancellation rbl To Pay or Otherwise Settle With Panes Other than the Insured or With the Insured Claimant (0 to pay or otherwise settle with other panics for or in the name of an insured claimant any clmm insured against under this policy together with any wxts attorneys fees and expenses incurred by the insured claimant which were authorized by the Company up in the time of payment and which the Company is obligated to pay or (11) to pay or otherwise settle with the insured claimant the low or damage provided for under this policy together with any costs attorneys fees and expenses incurred by the insured claimant which were authorized by the Company up to the time of payment and which the Company of obligated to pay Upon the exercise by the Company of either of the options provMad for In paragraphs (b)(0 or (If) the Company a obligations to the insured under this policy for the claimed loss or damage other than the payments required to be made shall terminate including tiny liability or obligation to defend prosecute or continue any litigation 7 DETERMINATION EXTENT OF LIABILITY AND COINSURANCE This policy is a contract of indemnity against actual moneury lose our damage sustained or incurred by the insured claimant who has coffered lots or damage by reason of matters insured against by this policy and only to the extent harem described (a) The liability of the Company under this policy shall riot exceed the least of (I) the Amount of Insurance stated in Schedule A or (if) the difference between the value of the inured estae or interest as insured and the value of the insured course or interest subject to the defect lien or encumbrance insured against by this policy at the dam the Insured claimant its required to furnish to Company a proof of loss or damage in accordance with SWUM 5 of these Conditions and Stipulations (b) In the event the Amount of Insurance sated in Schedule A at the Dow of Policy is less than 80 percent of the value of the insured estate or merest or the full consideration paid for the land whichever is less or if subsequent to the Dow of Policy an improvement is erected on the land which increases the value of the insured came: or interest by at lean 20 percent over the Amount of Insurance stated in Schedule A then this Policy is subject to the following (I) where no subsequent improvement has been made its to any parml loss the Company shall only pay the loss pro ram In the proportion that the amount of insurance at Date of Policy bears to the total value of the insured cause or interest at Dew of Policy or (it) where a subsequent improvement has been made as to any paned loss the Company shall only pay the loss pro rem in the proportion that 120 percem of the Amount of Insurance stated in Schedule A bears so the sum of On Amount of Insurance sated In Schedule A and the summer expended for the unprovement The provisions of this paragraph shall not apply to costs attorneys fees and expenses for which the Company is liable under this policy and shall only apply to that portion of any loss which exceeds in the aggregate 10 percent of the Amount of Insumnce scared in Schedule A (c) The Company will pay only those costs anomeys fees and expenses incurred In accordance with Section 4 of these Conditions and Stipulations 8 APPORTIONMENT If the land described in Schedule A consists of two or more parcels that arc not used as a single site and a loss is established affecting one or more of the parcels but not all the loss shall be computed and settled on a pro am basis as if the amount of insurance under this policy was divided pro ram as to the value on Dow of Policy of each separate parcel to the whole exclusive of any Improvements made subsequent to Date of Policy unless a liability or value has otherwise been agreed upon as to Inch parcel by the Company and the insured at the time of the issuance of dos policy and shown by an express warrant or by an endorsement attached to this policy 9 LIMITATION OF LIABILITY (a) If the Company establishes the title or removes the alleged defect lien or encumbrance or cures the lack of a right of access to or from the land all as insured or takes action In accordance with Section 3 or Section 6 in a reasonably diligent manner by any method including litigation and the completion of any appeals therefrom It shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or damage caused thereby (b) In the event of any litigation including litigation by the Company or with the Company s consent the Company shall have no liability for loss or damage until there has been a final determination by a court of compound jurisdiction and dtspmmon of all appeals therefrom adverse to the title as insured (c) The Company shall not be liable for loss or damage to any insured for hability voluntarily assumed by the insured in sealing my claim or suit without the Prior written consent of the Company 10 REDUCTION OF INSURANCE REDUCTION OR TERMINATION OF LIABILITY All payments under this policy except payments made for costs attorneys fees and expenses shall reduce the amount of the Insurance pro tanto 11 LIABILITY NONCUMULATIVE It is expressly and enlod that the amount of insurance under this pohcy shall be reduced by any amount the Company may pay under any Pohcy Insuring a mortgage to which exception is taken in Schedule B or to which the insured has agreed assumed or mken subject or which Is hLre4her executed by an insured and which is a charge or hen on the estate or Interest described or referred fo in Schedule A and the amount so paid shall be deemed a payment under this policy it) the Insured owner 12 PAYMENT OF LOSS (a) No payment shall N. made without priduung this policy for endorsement of the payment unlus the policy has been Jost or destroyed in which case proof of loss or destmcuon shall be furnished to the salislacuon ui the Company (b) When habihty and the extent of loss or damage has been definitely fixed in accordance with these Conditions and Supulatwns the loss or damagL shall be payable wnhm 10 days thereafter I SUBROOA TON UPON PAYMENT OR SFI TLFMFNI (a) fhe Company s Right of Subrogation Whenever the Company shall have seated and paid a clean under this Policy all right of subrogation shall vest in tht Company crocheted by any act of flee Insured Jmmant fhe Company shall be subrogaticd tit and he totaled to all rights and remedies that the Insured claimant would have had agmmt any person or property in respect to [he claim had this policy not been Issued 11 rtquested by the Company the Insured claimant shall transfer to the Company all n6Ms and remedies against any person or property necessary in order to perfect this right of subrogation The insured claimant shall perma the Company it) sue uimprinuiu or scull- tit the name of the insured claimant and to use thL name of thc Insured clatmam In any Vansachon or litigation Involving thL%L rights or remem, If a payment on account of a claim does not Rally emir the loss of the insured claimant the Company shall M suhrogayd IF Nell- rights and remedies In the proportion that the Company s payment hears to the whole amount of the loss If loss should rcsuh Iron day act of the mourul of nmam as stated above that act shall not veld this polity but Ilia C ompany In that Clem shall be required to pay only that pan of any loses Insured against by this pohcy its It shall exited rht amount It my Ina to the Company by rtasnm of Iht unpatrniLIn by the Imurtd claimant of the r, umpany s right of subrogation Ibt ILL Company s Rights AT First Non imaR.d Obligors 1 he Company s right of suhrogation against non insured obligors shall txist and shall include without limitation the rights of thL insured to indemmnts guaranties other gihues of msuranu Fir Maids nmwnhstandmg any cons or Lcondition, conmmed In those Instrument, that provtdt ter whroganun rights by rtason of this Pon, 14 ARBITRATION Unit sic pnihibAd by 11pht161c Iov Fir unlace this ublrmmt section as delLtdi by speuhL prnstuon IF SLIILdallt If Ot Ihls POIILy tither the (lamprey or Fit tool may dun Ind trunnion pursuml Ie Ilit Iulc Insunnee Arbitration Rules of IhL American l i ur non AssoLl non ArhIn tblL tit aids nay Rather but AIL col luouLd to my controversy or claim between the Company and the Insured arising out of or relating to this Policy and service of the Company in connection with its issuance or the breach of a policy provision or other obligation All arbitrable matters when the Amount of Insurance is $1 000 000 or less SHALL BE arbitrated at the request of either the Company or the Insured unless the insured is an individual person (as distinguished from a corporation trust partnership association or other legal entity) All arbitrable matters when the Amount of Insurance is in excess of $I 000 000 shall be arbitrated only when agreed to by both the Company and the Insured Arbitration pursuant to this policy and under the Rules in effect on the date the demand for arbitration is made or at the option of the insured the Rules in effect at Date of Policy shall be binding upon the panes The award may include attorneys fees only if the laws of the state in which the land is located perm'( a court to award attorneys fees to a prevailing party Judgment upon the award rendered by the Arbitramr(s) may he entered In any court having Jurisdiction thereof The law of the suns of the land shall apply to an arbitration under the Title Insurance Arbitration Rules A Copy of the Rules may be obtained from the Company upon request 15 LIABILITY LIMITED 70 THIS POLICY POLICY ENTIRE CONTRACT (a) This Policy together with all endorsements if any attached hereto by the Company is the entire policy and contract between the insured and the Company In interpreting any provision of this policy this policy shall be construed as a whole (b) Any claim of loss at damage whether or not based on negligence and which arises oaf of the vat. of the title to the estate or Interest covered hereby or by any action aysemng such claim shall be restricted to this policy (c) No amendment of or endorsement to this policy can be made except by a writing endorsed hereon or attached hereto signed by either the President a Vice President the Secretary an Assistant Secretary or validating officer or authorized signory of the Company 16 SEVERABILITY In thl- event any provision of the pohcy is held invalid or unceforceable under applicable law the policy shall be deemed not to include that provision and all other provisions shell remain In lull force and effect 17 NOTICES WHERE SENT All notices ecipured to be given the Company and any statement In writing required to be furnished the Company shall include the number of (his policy and shall be addressed I the Company a( First American title Insurance Company 1500 S Dairy Ashford Suite 100 Houston Texas 77077 COMPLAINT NOTE Should any dispute arise about your premium or about a claim that you have tied contact the agent or write to the Company that issued the policy if the problem is not resolved you also may write the Texas Department of Insurance of Texas P O Box 1491(A Austin T% 78714 9104 Fax No (512) 305 7426 This notice of complaint procedure is for information only and does not become a pan or condition nl this policy • 1 � i x O a m =� Q Cc W it ` c� x 3 n 4✓ ,La• �` O ¢xx'xU 3 n % L rl 0 F COMMITMENT FOR TITLE INSURANCE Issued by t �a First w Company THE FOLLOWING COMMITMENT FOR TITLE INSURANCE IS NOT VALID UNLESS YOUR NAME AND THE POLICY AMOUNT ARE SHOWN IN SCHEDULE A, AND OUR AUTHORIZED REPRESENTATIVE HAS COUNTERSIGNED BELOW We, First American Title Insurance Company of Texas, will issue our title insurance policy or policies (the Policy) to You (the proposed insured) upon payment of the premium and other charges due, and compliance with the requirements in Schedule B and Schedule C Our Policy will be in the form approved by the Texas Department of Insurance at the date of issuance, and will insure your interest in the land described in Schedule A The estimated premium for our Policy and applicable endorsements is shown on Schedule D There may be additional charges such as recording fees, and expedited delivery expenses This Commitment ends ninety (90) days from the effective date, unless the Policy is issued sooner, or failure to issue the Policy is our fault Our liability and obligations to you are under the express terms of this Commitment and end when this Commitment expires First American Title Insurance Company ATTEST of Texas 'a `tt tE 1NSUg4 �—/`�/�G'� S y�T By �G e4wu� W + � zn i 11LI Secretary PRESIDENT HN 2 Authorized Signature CONDITIONS AND STIPULATIONS I If you have actual knowledge of any matter which may affect the title or mortgage covered by this Commitment that is not shown In Schedule B, you must notify us in writing If you do not notify us in writing our liability to you is ended or reduced to the extant that your failure to notify us affects our liability If you do notify us or we learn of such matter we may amend Schedule B, but we will not be relieved of liability already incurred 2 Our liability is only to you, and others who are included in the definition of Insured in the Policy to be issued Our liability is only for actual loss incurred in your reliance on this Commitment to comply with its requirements or to acquire the interest in the land Our liability is limited to the amount shown in Schedule A of this Commitment and will be subject to the following terms of the Poh,y Insuring Provisions, Conditions and Stipulations, and Exclusions FORM T 7 Commutnent for Title Insurance Etreurvc 10 01 97 TEXAS TITLE INSURANCE INFORMATION Title insurance insures you against loss resulting from certain risks to your title The Commitment for Title Insurance is the title insurance company's promise to issue the title insurance policy The commitment is a legal document You should review it carefully to completely understand it before your closing date El seguro de tftulo le asegura en relacion a perdidas resultantes de ciertos riesgos que pueden afectar el titulo de sit propiedad El Complomiso paia Seguro de Titulo es la promesa de la compania aseguradora de titulos de emitir la pohza de seguro de titulo El Compromiso es un documento legal Uated debe leerlo cuidadosamente y entenderlo completamente antes de la fecha Para finalizar su transaction Your Commitment for Title Insurance is a legal contract between you and us the Commitment is not an opinion or report of your title It is a contract to issue you a policy subject to the Commitment s terms and regmretncnts Before issuing a Commitment for Title Insurance (the Commitment) of a Title Insurance Policy (the Policy) the Title Insurance Company (the Company) determines whether the title is insurable This determination has already been made Part of that determination involves the Company's decision to insure the title except for certain risks that will not be covered by the Policy Some of these risks are listed in Schedule B of the attached Commitment as Exceptions Other risks art stated in the Policy as Exclusions These risks will not be covered by the Policy Another part of the determination involves whether the promise to insure Is conditioned upon certain regmrc ments being met Schedule C of the Commitment lists these requirements that must be satisfied or the Company will retuse to cover them You may want to discuss any matters shown in Schedules B and C of the Commitment with an attorney These matters will affect your title and your use of the land When your Policy IS issued, the coverage will be limited by the Policy's Exceptions, Exclusions and Conditions, defined below — EXCEPTIONS are title risks that a Policy generally covers but does not cover in a particulat instance Exceptions are shown on Schedule B or discussed in Schedule C of the Commitment They can ilso be added if you do not comply with the Conditions section of the Commitment When the Policy is Issued all Exceptions will be on Schedule B of the Policy — EXCLUSIONS are title risks that a Policy generally does not cover Exclusions are contained in the Policy but not shown or discussed in the Commitment — CONDITIONS are additional provisions that quality or limit your coverage Conditions include your responsibilities and those of the Company They are contained in the Policy but not shown or discussed in the Commitment The Policy Conditions are not the same as the Commitment Conditions You can get a copy of the policy form approved by the State Board of Insuranct by calling the Title Insurance Company at 1 800-347-7826 or by calling the title insurance agent that issued the Commitment The Stale Board of Insurance may revise the policy form from time to time You can also get a brochure that explains the policy from the Texas Department of Insuranct by calling 1 800-252-3439 Before the Policy is issued, you may request changes in the policy Some of the changes to consider ate — Request amendment of the area and boundary" exception (Schedule B paragraph 2) To gtt this amendment, you must furnish a survey On the Owner Policy, you must pay an additional premmm for the amendment If the survey is acceptable to the Company, your Policy will insure you against loss because of discrepancies of conflicts in boundary lines, encroachments or protrusions or overlapping of improvements The Company may then decide not to insure against specific boundary or survey problems by making special exceptions in the Policy — Allow the Company to add an exception to `rights of parties in possession " If you refuse this exception the Company or the title insurance agent may inspect the property The Company may except to and not insure you against the rights of specific persons, such as renters adverse owners or easement holders who occupy tht land The Company may charge you for the inspection It you want to make your own inspection you must sign a Waiver of Inspection form and allow the Company to add this exception to your Policy The entire premium for a Policy must be paid when the Policy is issued You will not owe any additional pteminms unless you want to increase your coverage at a later date and the Company agrees to add an Increased Value Endorsement TEXAS COMMITMENT FOR TITLE INSURANCE SCHEDULE A Effective Date January 24, 2000 at 5 00 p in Commitment No 01003034 issued February 2, 2001, p in I The policy or policies to be issued are (a) OWNER POLICY OF TITLE INSURANCE (Form T-1) (Not applicable for improved one -to -four family residential real estate) Policy Amount $TO BE DETERMINED PROPOSED INSURED City of Denton, Texas (b) TEXAS RESIDENTIAL OWNER POLICY OF TITLE INSURANCE - ONE -TO -FOUR FAMILY RESIDENCES (Form T-IR) Policy Amount $ PROPOSED INSURED (c) MORTGAGEE POLICY OF TITLE INSURANCE (FORM T-2) Policy Amount $ PROPOSED INSURED Proposed Borrower GF No 01003034-021-JSJ (d) MORTGAGEE TITLE POLICY BINDER ON INTERIM CONSTRUCTION LOAN (Form T-13) Binder Amount $ PROPOSED INSURED (e) OTHER Proposed Borrower Policy Amount $ PROPOSED INSURED 2 The interest in the land covered by this Commitment is Fee Simple 3 Record Title to the land on the Effective Date appears to be vested in Marvin C, Burch aka M C Burch, Richard Lee Burch, Nelda Grace Burch and Mary Kate Burch 4 Legal description of land See Exhibit "A" attached hereto and made a part hereof First American Title Ins Co of Texas First American Title Insurance Company of Texas Texas Commitment T 7 (Rev 1 1 93) Schedule A Valid Only if Schedule B C D and Cover are attached Exhibit A FIELD NOTES to all that certain tract of land situated in the W Roark Survey Abstract Number 1087 and the J Severe Survey Abstract Number 1164, Denton County, Texas and being a part of the called 192 5 acre tract described in the deed from Richard F Dolgener et al to V D Burch recorded in Volume 238, Page 137, a part of the called 60 3/4 acre Second Tract and part of the called 10 acre Third Tract described in the deed from lion B McIGurkan et at to V D Burch recorded in Volume 239, Page 191 of the Deed Records of Denton County, Texas, the subject tract being more particularly described as follows BEGINNING for the Westerly Northwest corner of the tract being described herein on the Southeast right-of-way of U S Highway 377 an are length of 402 57 feet (chord bearing North 39 Degrees 26 Minutes 19 Seconds East a distance of 455 83 feet) from a concrete right-of-way monument at it's intersection with the South line of the said 10 acre Third tract, THENCE Northeasterly with the Southeast right-of-way of U S Highway 377 along the are of a curve to the right having a radius of 3,719 60 feet, an arc length of 24 70 feet (chord bearing North 43 Degrees 08 Minutes 30 Seconds East a distance of 24 70 feet) to a 1/2 inch iron rod found at the end of the said curve, THENCE North 43 Degrees 19 Minutes 55 Seconds East continuing with the Southeast right-of-way of U S Highway 377 crossing the East line of the 192 5 acre tract and the West line of the 60 3/4 acre Second Tract and continuing, in all, a total distance of 154 38 feet to a 1/2 inch iron rod set for the Northwest corner of the herein described tract, THENCE South 70 Degrees 13 Minutes 27 Seconds East across the said 60 3/4 acre Second Tract a distance of 28812 feet to a 1/2 inch iron rod set for the Northeast corner of the herein described traU, THENCE South 17 Degrees 28 Minutes 02 Seconds West crossing the South line of the 60 3/4 acre Second Tract and the North line of the 10 acre Third tract and continuing, in all, a total distance of 226 67 feet to a 1/2 inch iron rod set on the South line of an easement to Texas Municipal Power Agency recorded in Volume 1141, Page 128 of the said Deed Records, THENCE South 88 Degrees 52 Minutes 25 Seconds West with the South line of the said Texas Municipal Power Agency easement a distance of 264 92 feet to a 1/2 inch iron rod set for the Southwest corner of the herein described tract, THENCE North 26 Degrees 38 Minutes 33 Seconds West crossing the North line of the 10 acre Third Tract and the South line of the said 192 5 acre tract and continuing, in all, a total distance of 210 26 feet to the PLACE OF BEGINNING and enclosing 2 000 acres of land 30 FOOT INGRESS/EGRESS EASEMENT TRACT II FIELD NOTES to all that certain tract of land situated in the W Roark Survey Abstract Number 1087 and the J Severe Survey Abstract Number 1164, Denton County, Texas and being a part of the called 192 5 acre tract described in the deed from Richard F Dolgener et al to V D Burch recorded in Volume 238, Page 137 and part of the called 10 acre Third Tract described in the deed from Don B McVJurkan et al to V D Burch recorded in Volume 239, Page 191 of the of the Deed Records of Denton County, Texas, the subject easement being more particularly described as follows BEGINNING for the Northeast corner of the tract being described herein at a 1/2 inch iron rod set on the Southeast right-of- way of U S Highway 377 at the Northwest corner of the 2 000 acre tract described above and being an arc length of 402 57 feet (chord bearing North 39 Degrees 26 Minutes 19 Seconds East a distance of 455 83 feet) from a concrete right-of-way monument at the intersection of the Southeast right-of-way with the South line of the said 10 acre Third tract, THENCE South 26 Degrees 38 Minutes 33 Seconds East with the West line of the 2 000 acre tract a distance of 210 26 feet to a 1/2 inch iron rod set for the Southwest corner thereof on the South line of an easement described to Texas Municipal Power Agency recorded in Volume 1141, Page 128 of the said Deed Records, THENCE South 88 Degrees 52 Minutes 25 Seconds West with the South line of the said Texas Municipal Power Agency easement a distance of 33 24 feet; THENCE North 26 Degrees 38 Minutes 33 Seconds West across the 192 5 acre tract, 30 feet Southwest of and parallel with the West line of the 2 000 acre tract, a distance of 184 63 feet to the Southeast right-of-way of U S Highway 377, THENCE Northeasterly with the Southeast right-of-way of U S Highway 377 along the are of a curve to the right having a radius of 3,719 60 feet, an arc length of 32 06 feet (chord bearing North 42 Degrees 42 Minutes 16 Seconds East a distance of 32 06 feet) to the PLACE OF BEGINNING and enclosing 0 136 of an acre of land SCHEDULE B Commitment No 01003034 EXCEPTIONS FROM COVERAGE GF No 01003034-021-JSJ In addition to the Exclusions and Conditions and Stipulations, your Policy will not cover loss, costs, attorney's fees, and expenses resulting from 1 The following restrictive covenants of record itemized below (We must either insert specific recording data or delete this exception) Item No 1, Schedule B, is hereby deleted 2 Any discrepancies, conflicts, or shortages in area or boundary lines, or any encroachments or protrusions, or any overlapping of improvements 3 Homestead or community property or survivorship rights, if any, of any spouse of any insured (Applies to the Owner Policy only) 4 Any titles or rights asserted by anyone, including, but not limited to, persons, the public, corporations, governments or other entities, a to tidelands, or lands comprising the shores or beds of navigable or perennial rivers and streams, lakes, bays, gulfs or oceans, or b to lands beyond the line of the harbor or bulkhead lines as established or changed by any government, or c to filled -in lands, or artificial islands, or d to statutory water rights, including riparian rights, or e to the area extending from the line of mean low tide to the line of vegetation, or the rights of access to that area or easement along and across that area (Applies to the Owner Policy only) 5 Standby fees, taxes and assessments by any taxing authority for the year 2001, and subsequent years, and subsequent taxes and assessments by any taxing authority for prior years due to change in land usage or ownership, but not those taxes or assessments for prior years because of an exemption granted to a previous owner of the property under Section 11 13, Texas Tax Code, or because of improvements not assessed for a previous tax year 6 The tetras and conditions of the documents creating your interest in the land 7 Materials furnished or labor performed in connection with planned construction before signing and delivering the lien document described in Schedule A, if the land is part of the homestead of the owner (Applies to the Mortgagee Title Policy Binder on Interun Construction Loan only, and may be deleted if satisfactory evidence is furnished to us before a binder is issued ) 8 Liens and leases that affect the title to the land, but that are subordinate to the lien of the insured mortgage (Applies to Mortgagee Policy only) 9 The following matters and all terms of the documents creating or offering evidence of the matters We must insert matters or delete this exception) a Visible and apparent easements on or across property described in Schedule A First American Title Ins Co of Texas First American Title Insurance Company of Texas Texas Commitment T 7 (Rev 12 30 99) Schedule B Valid Only if Schedule A C D and Cover are attached SCHEDULE B - continued Commitment No 01003034 GF No 01003034-021-JSJ b Any portion of subject property lying within the boundaries of a public or private roadway whether dedicated or not c Rights of Parties in Possession (OWNER POLICY ONLY) d Rights of tenants, as tenants only, under unrecorded leases or rental agreements e Easement To The State of Texas Recorded January 8, 1941, Volume 289, Page 164, Real Property Records, Denton County, Texas f Easement To Texas Power and Light Company Recorded April 21, 1956, Volume 421, Page 101, Real Property Records, Denton County, Texas g Easement To Texas Power and Light Company Recorded March 26, 1968, Volume 563, Page 80, Real Property Records, Denton County, Texas h Easement To Texas Power and Light Company Recorded March 26, 1968, Volume 563, Page 82, Real Property Records, Denton County, Texas i Easement To Southwestern Gas Pipeline, Inc Recorded June 28, 1968, Volume 568, Page 312, Real Property Records, Denton County, Texas j Easement To Texas Power and Light Company Recorded May 6, 1982, Volume 1141, Page 128, Real Property Records, Denton County, Texas k Easement To The City of Denton Recorded August 27, 1984, Volume 1472, Page 327, Real Property Records, Denton County, Texas 1 Easement To The City of Denton Recorded April 16, 1993, Clerk's File No 93-R0022522, Real Property Records, Denton County, Texas in Easement To The City of Denton Recorded November 7, 2000, Volume 4712, Page 478, (Clerk's File No 00-R00107840), Real Property Records, Denton County, Texas SCHEDULE B - continued Commitment No 01003034 GF No 01003034-021-JSJ n Boundary Line Agreement By and Between M C Burch and Robert Skipworth, et al Recorded May 29, 1973, Volume 675, Page 228, Real Property Records, Denton County, Texas o Oil, Gas and Mineral Lease, and all terms, conditions and stipulations therein Recorded January 18, 1955, Volume 405, Page 247, Real Property Records, Denton County, Texas Lessor V D Burch, et ux Lessee Harry C Trentman, Jr Title to said interest has not been investigated subsequent to the date of the aforesaid instrument p Oil, Gas and Mineral Lease, and all terms, conditions and stipulations therein Recorded April 25, 2000, Volume 4575, Page 1477, Real Property Records, Denton County, Texas Lessor Marvin C Burch, et al Lessee Roger A Soape, Inc Title to said interest has not been investigated subsequent to the date of the aforesaid instrument q Rights to oil, gas and other minerals of every kind and character m , on and under the property described in Schedule A SCHEDULE C Commitment No 01003034 OF No 01003034-021-JSJ Your policy will not cover loss, costs, attorney's fees, and expenses resulting from the following requirements that will appear as Exceptions in Schedule B of the Policy, unless you dispose of these matters to our satisfaction, before the date the Policy is issued 1 Documents creating your title or interest must be approved by us and must be signed, notarized and filed for record 2 Satisfactory evidence must be provided that - no person occupying the land claims any interest in that land against the persons named in paragraph 3 of Schedule A, - all standby fees, taxes, assessments and charges against the property have been paid, all improvements or repairs to the property are completed and accepted by the owner, and that all contractors, sub -contractors, laborers and suppliers have been fully paid, and that no mechanic's, laborer's or matenahnen's liens have attached to the property, there is legal right of access to and from the land, (on a Mortgagee Policy only) restrictions have not been and will not be violated that affect the validity and priority of the insured mortgage 3 You must pay the seller or borrower the agreed amount for your property or interest Any defect, hen or other matter that may affect title to the land or interest insured, that arises or is filed after the effective date of this Commitment ARBITRATION The Owner Policy of Title Insurance (Form T-1) and the Mortgagee Policy of Title Insurance (Form T-2) contain an arbitration provision It allows the Insured or the Company to require arbitration if the amount of insurance is $1,000,000 or less If the Insured wants to retain the right to sue the Company in case of a dispute over a claim, the Insured must request deletion of the arbitration provision before the Policy is issued The Insured may do this by signing the Deletion of Arbitration Provision form and returning it to the Company at or before the closing of the real estate transaction or by writing to the Company 6 Fumish a Category IA survey of the property to be prepared by a Registered Public Surveyor acceptable to this Company When same is submitted to the Title Department for inspection and approval, additional exceptions and/or requirements may be added If we are to amend the standard survey exception to read "Shortages in area" and upon payment of the applicable premium (if any), we will require a Category 1A survey from a Registered Public Surveyor acceptable to this Company showing (a) The location of all improvements and the exact location of all building Imes in relation to the property lines, (b) Easements and/or rights -of -way, dedicated or not, that a physical inspection of the premises would disclose, and (c) Indicating and labeling all encroachments, or on the face of the survey staring "NO ENCROACHMENTS" When same is submitted to the Title Department for inspection and approval, additional exceptions and/or requirements may be added First American Title Ins Co of Texas First American Title Insurance Company of Texas Texas Commitment T-7 (Rev 1 1 93) Schedule C Valid Only if Schedule A B D and Cover are attached SCHEDULE C - continued Commitment No 01003034 8 Record a Release of Deed of Trust to secure a Note GF No 01003034-021-JSJ Grantor Marvin C Burch, Individually and as Independent Executor of the Estate of Grace Ann Burch, Deceased Trustee George Hopkins Beneficiary Hankins, Powers, Eastup & Deaton, a Professional Corporation Dated July 31, 1985 Recorded August 2, 1985, Volume 1690, Page 7, Real Property Records, Denton County, Texas Amount $38,539 92 9 Company requires proper documentation showing authority to sign for the City of Denton, Texas NOTICO Escrow Agent (i) has no liability on a check until the check has cleared, (a) shall not be liable for any interest or other charge on the Earnest Money and shall be under no duty to invest or re -invest funds held by it at any time unless otherwise agreed in writing, and (iii) may receive financial benefits from depository institutions based, in whole or in part, on the maintenance of escrow deposits which may or may not Include the Earnest Money described herein First American Title Ins Co of Texas By � uthonzed Coun�t�(SLV/sv) MRIW1l1-RA-11 Pursuant to the requirements of Rule P-21, Basic Manual of Rules, Rates and Forms for the writing of Title Insurance in the State of Texas, the following disclosures are made Errorl Not a valid filename Direct Operations First American Title Insurance Company of Texas - Austin Division First American Title Insurance Company of Texas - Corpus Christi Division First American Title Insurance Company of Texas - El Paso Division First American Title Insurance Company of Texas - Fort Worth Division First American Title Insurance Company of Texas - Houston Division First American Title Insurance Company of Texas - San Antonio Division First American Title Insurance Company of Texas - Tyler Division Citizens Title Company (Houston, Tx ) Fort Bend Title Company, Inc (Richmond, Tx ) First Title Company of Waco (Waco, Tx) 3 You are entitled to receive advance disclosure of settlement charges in connection with the proposed transaction to which this commitment relates Upon your request, such disclosure will be made to you Additionally, the name of any person, firm or corporation receiving any sum from the settlement of this transaction will be disclosed on the closing or settlement statement You are further advised that the estimated title premium* is Owners Policy $ Mortgage Policy $ Endorsement Charges $ Total $ Of this total amount $ or 15 00% will be paid to the policy issuing Title Insurance Company $ or 85 00% will be retained by the issuing Title Insurance Agent, and the remainder of the estumated premium will be paid to other parties as follows Amount To Whom For Services * The estimated premium is based upon information furnished to us as of the date of this Commitment for Title Insurance Final determination of the amount of the premium will be made at closing in accordance with the Rules and Regulations adopted by the State Board of Insurance IMPORTANT NOTICE FOR INFORMATION, OR TO MAKE A COMPLAINT CALL OUR TOLL -FREE TELEPHONE NUMBER 1-800-347 7826 ALSO YOU MAY CONTACT THE TEXAS DEPARTMENT OF INSURANCE AT 1-800 252-3439 to obtain information on 1 filing a complaint against an insurance company or agent, 2 whether an insurance company or agent is licensed, 3 complaints received against an insurance company or agent, 4 policyholder rights, and 5 a list of consumer publications and services available through the Department YOU MAY ALSO WRITE TO THE TEXAS DEPARTMENT OF INSURANCE P O BOX 149104 AUSTIN, TEXAS 78714-9104 FAX NO (512) 305-7426 AVISO IMPORTANTE PARA INFORMACION, O PARA SOMETER UNA QUEJA LLAME AL NUMERO GRATIS 1-800-347-7826 TAMBIEN PUEDE COMUNICARSE CON EL DEPARTAMENTO DE SEGUROS DE TEXAS AL 1 800 252 3439 para obtenerinformacion sobre 1 como someter una queja en contra de una compania de seguros o agente de seguros, 2 si una compania de seguros o agente de seguros tiene licencia, 3 quejas recibidas en contra de una compania de seguros o agente de seguros, 4 los derechos del asegurado, y 5 una lista de publicaciones y servicios para consumdores dispombles a trav6s del Departamento TAMBIEN PUEDE ESCRIBIR AL DEPARTAMENTO DE SEGUROS DE TEXAS P O BOX 149104 AUSTIN, TEXAS 78714-9104 FAX NO (512) 305 7426