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HomeMy WebLinkAbout2000-3225\Oce wcumnO ldjn on,\MFLATIRON oNC ORDINANCENO AN ORDINANCE OF THE CITY OF DENTON, TEXAS APPROVING A REAL ESTATE CONTRACT BETWEEN THE CITY OF DENTON AND FLATIRON CAMBRIA I, L P , RELATING TO THE PURCHASE OF LOT 1, BLOCK 1, FOOD LION T-2 ADDITION, LOCATED IN THE B B B & C R R CO SURVEY, ABSTRACT NO 186, DENTON, COUNTYOTHER PUBLIC , TEXAS, CONSISTING OF APPROXIMATELY 407 ACRES OF LAND, FACILITIES, ES, AUTHORIZING HESEXPEND TUBE OFFUNDSRARy AND AND PROVIDING AN EFFECTIVE DATE THE COUNCIL OF THE CITY OF DENTON, TEXAS HEREBY ORDAINS SEC__TION 1 The City Manager is hereby authorized to execute a Real Estate Contract ate between the City and Flatiron Cambria I, L P , art of this ordinance tially the for all purposes, of the l forthe Contract which is attached hereto and made a p purchase of approximately 4 07 acres of land for use as a library and other public facilities SECTION 2 The City Manager is authorized to make the expenditures as set forth in the attached Real Estate Contract become effective immediately upon its passage and SECTION 3 This ordinance shall approval PASSED AND APPROVED this the1 �� day off r 2000 EULINE BROCK, MAYOR ATTEST' JENNIFER WALTERS, CITY SECRETARY BY Ap OVED A5 TO LEGAL FORM HERBERT L OUTY, CITY TORNEY BY C \TEMPOentonPScontract doc REAL ESTATE CONTRACT STATE OF TEXAS COUNTY OF DENTON THIS CONTRACT OF SALE is made by and between Flatiron Cambria I, L P , a Delaware limited partnership, (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 1 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 located in Denton County, Texas, more picularly in Exhibit "A" and o her itattached improvements situated on such land, all fixtures and other property affiixeds thereto and 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 o asthe "Property"), for the consideration and upon and subject to the terms, provisions, conditions hereinafter set forth PURCHASE PRICE 1 Amount of Purchase Price The purchase price for the Property shall be the sum of One Million Two Hundred Fifty -Thousand Dollars and No Cents ($1,250,000 00) 2 Pavment of Purchase Price The full amount of the Purchase Price shall be f payable in cash at the closing INDEPENDENT CONSIDERATION Contemporaneously with the execution of this Agreement, Purchaser hereby delivers to Seller and Seller hereby acknowledges the alivery of a check in the ained for amount of $150 00 (the Independent Consideration"), mount the P g and agreed to as consideration for Seller's grant to Purchaser of Purchaser's exclusive right to purchase the Property pursuant to this Agreement and for Seller's execution, delivery and performance of this Agreement The Independent Consideration is in addition to and independent of any other consideration or payment provided in this Agreement, is non-refundable, and shall be retained by Seller notwithstanding any other provision of this Agreement Page 1 of 10 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 I Preliminary Title Report Within twenty (20) days after the date hereof, Seller, at Seller's sole cost and expense, shall have caused the Title Company (hereinafter defined) to issue an owners policy commitment (the "Commitment") relating to easements,accompanied ay, 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 may, 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 or unwilling to do so within ten (10) days after receipt of written notice, Purchaser, at its option may, by written notice to Seller, elect to terminate this Agreement (in which event the obligations of the parties to sell and purchase the property under this Agreement shall be null and void), grant Seller (if and to the extent Seller requests in writing) additional time to cure, or proceed to closing If Purchaser proceeds to closing all objections to title matters shall be deemed waived and all title matters shall be deemed satisfactory to Purchaser 2 Survey Seller shall provide Purchaser the survey plat by A J Bedford, RPLS No 4132, Dated December 17, 1997, last revised February 1998, as job no 042-21-97 Should an update be required by either Purchaser or Title Company, the updated survey cost shall be at the Purchaser's sole cost and expense Purchaser will have ten (10) days after receipt of the survey to review and approve the survey In the event t surveyunacceptable, nonce of Purchaser shall within the ten (10) day period, give Seller written this fact Seller may, at Seller's option, promptly undertake to eliminate or modify the unacceptable portions of the survey to the reasonable satisfactions of Purchaser Purchaser understands that Seller is under no obligation to cure any survey defects complained of by Purchaser stated in Page 2 of 10 Purchaser's written notice to Seller as provided in this paragraph In the event Seller is unable or unwilling to do so within ten (10eTdnotice to receipt of written notice, Purchaser, at its Option may, by Seller, elect to terminate this Agreement (in which event the obligations of the parties to sell and purchase the Property under this Agreement shall be null and void), grant Seller (if and to the extent Seller requests in writing) additional time to cure, or proceed to closing If Purchaser proceeds to closing, all objections to survey matters shall be deemed waived and all survey matters shall be deemed satisfactory to Purchaser Studies Seller shall furnish Purchaser full copies of any and all studies and reports covering the property (including but not limited to environmental site assessments) that, to the actual conscious knowledge of Larry Goland, as representative of Seller, are in the possession of Seller Seller, however, makes no representations or warranties of any kind with respect thereto Purchaser shall have twenty (20) days after the date hereof (herein called the "Inspection Period") to enter upon the Property, and to cause authorized representatives of Purchaser to enter upon the Property, to perform a physical and mechanical inspection of the Property Purchaser shall make its inspections in good faith and with due diligence Seller hereby reserves the right to have a representative present at the time of making any such inspection Promptly upon completion of any physical or mechanical inspection, test or study of the Property, Purchaser shall restore the Property to substantially the same condition as existed prior to such inspection, test or study Purchaser agrees to indemnify and hold Seller harmless of and from any and all liability or damage sustained by Seller caused as a result or ansing out of any inspections by Purchaser or its authorized representatives pursuant to this paragraph 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 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 which survive termination, and Purchaser will return to Seller all records, reports anotheserial the obtained b oPuP riodhaler relating to the Property Upon expiration Purchaser shall be deemed to have accepted the Property in is present condition Purchaser's obligations set forth in this paragraph shall survive the closing or termination of this Agreement 3 Seller's Comnhance 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 Page 3 of 10 REPRESENTATIONS AND WARRANTIES OF SELLER Seller hereby represents and warrants to purchaser, to the best of its current actual 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 or threatened 2 Except for the prior actions of Purchaser there is no condemnation or similar proceeding or assessment orsuitt, afffecting title to the Property, or any part thereof, and Seller has not received any written notice of any such proceeding or assessment contemplated by any governmental authority aterials vered 3 Except this Agreement nortoxic or hazardous tPurchaser ardouswa tesorSeller suant mat materials have obeen disposed of or released on or within the Property by Seller Such toxic or hazardous wastes or materials include, but are not limited to, hazardous materials or wastes as same aredefined amended, and Resource ce Conservation ns Comprehensive Recovery Act (RCRA), as Environmental Response Compensation and Liability Act (CERCLA), as amended Any and all rights of action of Purchaser for any breach by Seller of a representation or warranty under this Agreement shall merge with the deed delivered at the closing, shall terminate at the closing and shall not survive the closing "Knowledge" of Seller means actual, conscious knowledge of Larry Goland CLOSING The closing shall be held at the office of Texas Title Company (the "Title Company"), 2215 South Loop 288, Suite 320, Denton, Texas on or before October 13s', 2000 (which date is herein referred to as the "closing date") The closing date may be extended by mutual written agreement of the parties It is specifically understood and agreed by the parties hereto that the closing date is of upmost importance to Seller and serves as partial consideration for the Purchase Price set forth herein If the closing does not occur on the closing date, Seller may terminato shall have no rte this Agreement by notice in right or obligation he hereunder, except gtho ePurchaser and obligations s further which survive termination Page 4 of 10 CLOSING REQUIREMENTS Seller's Requirements At the closing Seller shall cial A Deliver to Purchaser a duly executed and Warranty Deed conveying good and indefeasible title en fee simple to all of the Property, free and clear of any and all liens, encumbrances, conditions, assessments, and restrictions, except for the following I General real estate taxes for the year of closing and subsequent years not yet due and payable, and 2 Any exceptions approved by Purchaser pursuant to Purchaser's Obligations hereof, and 3 Any exceptions approved by Purchaser in writing, and 4 Matters of record set forth on Schedule B orof removed) Schedule C of the commitment to the extent B Deliver to Purchaser a Texas owner's Policy of Title Insurance at Seller's sole expense, issued by Texas Title Company, Denton, Texas, (the "Title Company"), in Purchaser's 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 and obligation to satisfy the Title Company associated with same shall be borne by Purchaser, The exception as to restrictive covenants shall be endorsed "None of Record" except for restrictive covenants among those described under "Seller's Requirements" above The exception as to liens encumbering the Property shall be endorsed "None of Record" other than Page 5 of 10 those set forth in "Purchaser's Obligations" or "Seller's Requirements" above 4 The exception for taxes shall be limited to the year of closing and shall be paid or 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 3 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 bome by the respective parties incumng,such expenses REAL ESTATE COMMISSION To the extent either party has agreed in writing to pay any real estate commission occasioned by the consummation of this Agreement such party agrees to indemnify and hold harmless the other party from any and all such claims for commissions BREACH BY SELLER In the event Seller shall fall 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 by filing suit therefore and depositing the purchase price into the registry of the Court on or before January 31, 2001, or terminate this Agreement by written notice delivered to Seller BREACH BY PURCHASER In the event Purchaser should fall 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 by filing suit therefore and depositing the special warranty deed required hereunder into the registry of the court on or before January 31, 2001, or terminate this Agreement by written notice delivered to Purchaser Page 6 of 10 CONDITION OF PROPERTY NOTWITHSTANDING ANY PROVISION HEREIN TO THE CONTRARY, SELLER AND ITS PARTNERS MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY NATURE OR KIND, WHETHER STATUTORY, EXPRESS OR IMPLIED, WITH RESPECT TO THE PHYSICAL CONDITION OF THE PROPERTY AND PURCHASER ACKNOWLEDGES THAT THE PROPERTY IS BEING SOLD "AS IS" AND ,WITH ALL FAULTS", WITHOUT ANY REPRESENTATION OR WARRANTY BY SELLER OR ITS CURRENT OR FORMER PARTNERS OR AGENTS OR ANY OTHER PERSON OR ENTITY AGREEMENT,EXCEPT AS EXPRESSLY SET FORTH IN THIS NOR ITS CURRENT OR FORMER PARTNERS HAVE MADE, NOR DO ANY OF THEM HEREBY MAKE ANY EXPRESS OR IMPLIED REPRESENTATIONS OR WARRANTIES WHATSOEVER WITH RESPECT TO THE EXISTENCE, SIZE, OWNERSHIP OR CONDITION OF THE PROPERTY, INCLUDING WITHOUT LIMITATION, ANY REPRESENTATION OR WARRANTY REGARDING QUALITY OF CONSTRUCTION, WORKMANSHIP, MERCHANTABILITY, PAYMENT OF AD VALOREM TAXES, FITNESS FOR ANY PARTICULAR PURPOSE, ENVIRONMENTAL ONDITION, COMPLIANCE WITH ENVIRONMENTAL OR OTHER LAWS CINCOME TO BE DERIVED THEREFROM OR EXPENSES TO BE INCURRED WITH RESPECT THERETO, AND PURCHASER ACKNOWLEDGES THAT PURCHASER IS BUYING THE PROPERTY WITHOUT RELYING UPON ANY SUCH STATENT OR REPRESENTATION MADEY SELLER, ITS CURRENT OR FORMER PARTNERS OR AGENTS, OR ANY OTHER PERSON OR ENTITY PURCHASER REPRESENTS THAT IT IS A KNOWLEDGEABLE PURCHASER OF REAL ESTATE AND THAT IT IS RELYING SOLELY ON ITS OWN EXPERTISE AND THAT OF ITS CONSULTANTS IN PURCHASING THE PROPERTY NOTHING HEREIN SHALL PRECLUDE PURCHASER FROM EXERCISING ANY RIGHTS OR CLAIMS IT MAY HAVE AGAINST SELLER'S PREDECESSORS IN TITLE PROVISIONPURCHASER ACKNOWLEDGES THAT TIMS INCORPORATED INTO THE SPECIAL WARRANTY DEED TO BE DELIVERED AT CLOSING MISCELLANEOUS PROVISIONS 1 Assignment of Agreement This Agreement may not be assigned by Purchaser without the express written consent of Seller 2 Survival of Covenants Except as expressly set forth herein, 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 Page 7 of 10 Notice Any notice required or permitted to be delivered hereunder shall be deemed received when sent by United States mail, postage prepaid, certified mail, return receipt requested, addressed to Seller or Purchaser, as the case may be Seller's agent for purposes of notice shall be Flatiron Cambria I L P , c/o Credit Suisse First Boston Corp , Eleven Madison Avenue, New York, New York, 10010, with a copy to Thompson & Knight L L P , 1700 Pacific Avenue, Suite 3300, Dallas, Texas, 75201, Attn Knsty Freeman Purchaser's agent for the purposes of notice shall be Paul Williamson, Right -of -Way Agent, City Hall West, 221 North Elm Street, Denton, Texas, 76201 4 Texas Law to Annly This Agreement shall be construed under and in accordance with the laws of the State of Texas, and all obligations of the parties created hereunder are performable in Denton County, Texas 5 Parties Bound This Agreement shall be binding upon and inure to the benefit of the parties and their respective legal representatives, successors and assigns where permitted by this Agreement 6 Legal Construction In case anyone 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 unenforceability shall not affect any other provision hereof, and this Agreement shall be construed as if the invalid, illegal, or unenforceable provision had never been contained herein 7 Prior Agreements Superseded This Agreement constitutes the sole and only agreement of the parties and supersedes any prior understandings or written or oral agreements between the parties respecting the within subject matter B Time of Essence Time is of the essence in this Agreement In the event any date provided under this Agreement for performance of an obligation or expiration of a time period is a Saturday, Sunday or legal holiday, the obligation shall be performed or the time period shall expire, as the case may be, on the next succeeding business day 9 Gender Words of any gender used in this Agreement shall be held and construed to include any other gender, and words in the singular number shall be held to include the plural, and vice versa, unless the context requires otherwise 10 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 Page 8 of 10 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 hgLL day of 2000 THE CI-Tj OF m ATTEST JENNIFER WALTERS, CITY SECRETARY BY `^-- APPROVED AS TO LEGAL FORM HERBERT L P UTY, C ATTORNEY BY SELLER FLATIRON CAMBRIA I,L P By Flatiron Cambria, L L C Its General Partner By PTG Holdings, Inc Its Managing PVner,, M M Title 1(IYchael je Jez City Mar 215 E Mm Denton, Texas 76201 Page 9 of 10 ACKNOWLEDGMENT THE STATE OF § COUNTY OF § This instrument was acknowledged before me on 9�$ 2000 by Notary Public, in and for the State of My Commission E3pires Seller's Address Q / Nus" R OU Flatiron Cambria, I L P tM.,,, AGN atlNnnVbrk IM Credit Suisse First Boston Corp puetflled In New York 00un'y Eleven Madison Avenue Commission Expires 5-03-0 New York, New York 10010 Page 10 of 10 JJAN 4 NDVH JIroY *4" to elate .*IlchA v%to" y+n�n1 >Z oy wnis9OM 6 f 0+ SEP e 2000 2 43PM THOMPSON & KNIGHT 21 NO 760 P 22 _ 'EXHIBIT A Store No, 1128 Denton County, Texas BEING al tract of land situated in the BBS & CRR Company Survey, Abstract Number 186 in the City of Denton, Denton County, Texas and being all of LOT 1, BLOCK l of FOOD LION T,2 ADDITION an addition to the City of Denton according to the plat recorded in Cabinet "I", Pege 61 of the Plat Records of Denton County, Texas (PRDCT) and being more particularly descnbed as follows; BEGINNING at an "N" out in concrete set for the northwest comer of said Lot 1, Block 1 and being located at the point of intersection of the south right-of-way line of Windsor Drive (an 80 feet wide right-of-way) with the east right -or -way line of North Locust Street (a 95 feet wide tight -of --way). THENCB along the soutil I EAST a distance of 431 89feet t1 0 5 8inch iron rod found for the northeast ine of said WindsoTDrive, SOUTH 8 comet of said Lot 1, Block l; THENCE departing the south right-of-way lino of said Windsor Drive, SOUTH 008 51' 45" WEST a distance of 413,76 feet to a 3/8 inch iron rod set for the southeast corner of said Lot I, Block 1; TmENCF NORTH 898 18' 'i5" WEST a distance of 427 78 feat to a 518 inch iron rod set for the southwest corner of said Lot 1, Block 1 and being located in tilt east nght-of-way line of said North Locust Street; 31 EE along line of said North Locust Street, NORTH 008 17' s distance of 411 01 feet to the POINT OF BEGINNING This document is being re-rec , 1p°rpose 1 1 �n1�t11 -/� of correcting Exhibit "A" U veyU 01 �) "� f 7 SPECIAL WARRANTY DEED 1()oSJ3 THE STATE OF TEXAS § § KNOW ALL MEN BY THESE PRESENTS THAT COUNTY OF DENTON § FLATIRON CAMBRIA I, L P (hereinafter called "Grantor"), for and in consideration of the sum of Ten Dollars ($1000) and other valuable consideration paid to Grantor by CITY OF DENTON (hereinafter called "Grantee"), the receipt and sufficiency of which are hereby acknowledged, does hereby GRANT, SELL, CONVEY, ASSIGN and DELIVER to Grantee the real property located in Denton County, Texas and more particularly described in Exhibit A attached hereto and made a part hereof, together with all buildings and other improvements situated thereon, all fixtures and other property affixed thereto and all right, title and interest of Grantor in and to adjacent streets, alleys and rights -of -way (all of the foregoing hereinafter called the "Property"), subject to the encumbrances described in Exhibit B attached hereto and made a part hereof (hereinafter called the "Permitted Encumbrances") TO HAVE AND TO HOLD the Property, together with all and singular the rights and appurtenances thereto in anywise belonging unto Grantee, its successors and assigns, forever, and Grantor does hereby bind itself and its successors to warrant and forever defend all and singular the Property unto Grantee, its successors and assigns, against every person whomsoever lawfully claiming, or to claim the same, or any part thereof by, through or under Grantor, but not otherwise, subject, however, to the Permitted Encumbrances NOTWITHSTANDING ANY PROVISION HEREIN TO THE CONTRARY, GRANTOR AND ITS PARTNERS MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY NATURE OR KIND, WHETHER STATUTORY, EXPRESS OR IMPLIED, WITH RESPECT TO THE PHYSICAL CONDITION OF THE PROPERTY AND GRANTEE, BY ACCEPTANCE OF THIS DEED, ACCEPTS THE PROPERTY "AS IS" AND "WITH ALL FAULTS", WITHOUT ANY EXPRESS OR IMPLIED REPRESENTATION OR WARRANTY BY GRANTOR OR rTS CURRENT OR FORMER PARTNERS OR AGENTS OR ANY OTHER PERSON OR ENTITY, EXCEPT AS EXPRESSLY SET FORTH IN THAT CERTAIN CONTRACT OF SALE DATED SEPTEMBER 12, 2000 BY AND BETWEEN GRANTOR AND GRANTEE COVERING THE PROPERTY (HEREINAFTER CALLED THE "CONTRACT") NEITHER GRANTOR NOR ITS CURRENT OR FORMER PARTNERS HAVE MADE, NOR DO ANY OF THEM HEREBY MAKE ANY EXPRESS OR IMPLIED REPRESENTATIONS OR WARRANTIES WHATSOEVER WITH RESPECT TO THE SIZE OR CONDITION OF THE PROPERTY, INCLUDING WITHOUT LIMITATION, ANY REPRESENTATION OR WARRANTY REGARDING QUALITY OF CONSTRUCTION, WORKMANSHIP, MERCHANTABILITY, PAYMENT OF AD VALOREM TAXES, FITNESS FOR ANY PARTICULAR PURPOSE, ENVIRONMENTAL CONDITION, COMPLIANCE WITH ENVIRONMENTAL OR OTHER LAWS, INCOME TO BE DERIVED THEREFROM OR EXPENSES TO BE INCURRED WITH RESPECT THERETO, AND GRANTEE ACKNOWLEDGES BY ACCEPTANCE HEREOF 09497 00007 DALLAS 1190723 1 -1- 1469k 02352 THAT GRANTEE ACCEPTS THIS DEED WITHOUT RELYING UPON ANY SUCH STATEMENT OR REPRESENTATION MADE BY GRANTOR, ITS CURRENT OR FORMER PARTNERS OR AGENTS, OR ANY OTHER PERSON OR ENTITY GRANTEE REPRESENTS THAT IT IS A KNOWLEDGEABLE PURCHASER OF REAL ESTATE AND THAT IT IS RELYING SOLELY ON ITS OWN EXPERTISE AND THAT OF ITS CONSULTANTS IN PURCHASING THE PROPERTY NOTHING HEREIN SHALL PRECLUDE GRANTEE FROM EXERCISING ANY RIGHTS OR CLAIMS IT MAY HAVE AGAINST GRANTOR'S o> PREDECESSORS IN TITLE IN WITNESS WHEREOF, this Special Warranty Deed is executed by Grantor on this 13th day of October, 2000 GRANTOR: o partnership The address of Grantee is City of Denton City Attorney's Office 215 E McKinney Denton, Texas 76201 FLATIRON CAMBRIA I, L P , a Delaware limited By Flatiron Cambria, L L C , a Delaware limited liability company, its General Partner By PTG Holdings, Inc, its Managing Member By Gownro CT SA✓roya Name Title VICE. Pres(dent 09497 00007 DALLAS 1190723 1 -2- t169(; o 2 3 5 3 THE STATE OF COUNTY OF C'1 This instrument was acknowledged before me on 2000 by &UJUL�hT-D VIK(LP 1 &of PTO Holdings, Inc, managing member of Flatiron Cambria, L L C , general partner of Flatiron Cambria I, L P , a Delaware limited partnership, on behalf of said limited partnership o9 Notary Public, State of Nam' ` Printed Name ALICE RUSSELL Notary oPublic, w York 01 RU5081837 Ouahfied in Kings County Commission Expires July 14, 2001 My commission expires 0949700007 DAUAS 1190723 1 -3- I1C9b -)1 992 StMNo lin Daatan County. Tame BMM s memo lead idumd is dw BBB do CRRComm Burney, Abaaut Mmber IN in the C,q afDeatoa. Dmm CoumW. Taw sod being all of LOT 1, BLOCK I of FOOD LION T-2 ADDITION an add din to the City of Danum aooc dq tDtbgplattmooded Is CablM T'.Pags61 a ftheFletAgmakofDatton Camty. Texas (PRDC) OW being atom pattleuhuly described v faMnv&* BEOIINMMO at ao W colt is ooaarde Set for the aonhw*$t G*w of Said Lot 1, Block I rod being located at the point of ietaaeodcol of the Soath tt8ht4'way line Of WhAlw Ddva (an 80 feet wide ughtoRway) with the east d&-of-way line of North Lol m Skid (a 95 fie wide ttght� d-wayy,, THENCE along the Soatb dOW wgUue of said glia w Dnve, SOUTH 89" 4(V 30" EAST a & tam of 43189 &et to a 3i8 inch lean rod ibeadd 8tr the northeast oor ,% of said Lot 1. Block 1; THENCE &Vstaag the WA d*A4-%V hw of Saki WlodobrDn% SOUTH 00" SP W WEST a dimmoe of 413.76 feet to a SM mch inn told Set Ibr the southeast eorme of said Lbt 1, Block 1. THENCE NORTH 991 1S 35" WEST s distance of427 78 f* to a 518 bmh agttod sat for the soathms comer of sad Lot 1, Block 1 and being boated In the em pgbaof-w4W live of add North Loins 8hme4 THENCE slang the matt dghta4wayhm ofad North Laratat Suomi, NORTH 009 17' 31" EAST a distance of 411.01 fw to the POINT OF BEGINNING, L t,6gi, (1? 3 55 Exhibit B PERMITTED ENCUMBRANCES Standby fees, taxes and assessments by any taxing authority for the year 2000 and subsequent Y_ years not yet due and payable, 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 "0 ownerjous of the property under cr) for prior years because of an exempion ed to a prev Section 11 13, TEXAS TAX CODE, or because of impro ements not assessed for a previous c� tax year , -O The following easement(s) and/or building lines, as shown on plat recorded in Cabinet I, Slide 61, Plat Records, Denton County, Texas, to wit 25 foot utility easement along the West property line(s) 200 foot building line along the West property line(s) c 85 foot building line along the North property line(s) Shown on survey by Austin J Bedford, R P L S No 34132, dated December 17, 1997, last reused February 18, 1998 f the following as shown on survey y Austin J Consequences, Professional Land Suroveyor, #4132, dated December 17,b 997,Bedford, if any, last reviseded F brua pry 18, 1998 a Concrete flume and grate in the Southwest corner b Headwall and drainage pipe in the Southeast corner c Storm sewer line inside the East line as evidenced by cleanouts d Water valves in the Northeast and Northwest corners Telephone pole in the Northwest corner 09497 00007 PALLAS 1190723 1 4694 02356 1d-71da I-A0m00 ��m-n m�-1nnn '9 m \O \\ 0 mzzn �-5yi,.,, ,to= c.le c cz ID 0 m 0moo m m ru.. -+z 0-1;v 0 rr?A n ID @ @ d -i, rumw m mr9me01 o z ti sled for Re r•d in DE TON COUNTY rx CYN IA MITC LLB COUNTY CLER On t 2 2000 At :,lpm Doc/Num-R0099753 Dui /Type WD Recording Doc In 13.000 Receippt .0 170 Deputy - Jennife