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1993-183E 4WPDOMORMOYLE ORDINANCE NO? 3 -1f,3 AN ORDINANCE AUTHORIZING THE CITY MANAGER TO EXECUTE AN AGREEMENT BETWEEN THE CITY OF DENTON AND RUTH INEZ COYLE TO PURCHASE PROPERTY, AUTHORIZING THE EXPENDITURE OF FUNDS THEREFOR, AND PROVIDING AN EFFECTIVE DATE THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS SECTION I. That the City Manager is authorized to execute a Real Estate Contract between the City of Denton and Ruth Inez Coyle for the purchase of property, under the terms and conditions contained in said agreement, which is attached hereto and made a part hereof, and is authorized to execute any other document which may be associated with the purchase of said property SECTION II. That the City Council hereby authorizes the expenditure of funds in the amount of $75,000 00 for the purchase of said property and any closing costs, including the cost of property survey, as specified in the agreement SECTION III. That this ordinance shall become effective immediately upon its passage and approval ~ PASSED AND APPROVED this the -6 ~ day of 0644 SQLt~, 1993 ATTEST JENNIFER WALTERS, CITY SECRETARY BY .a - APPRO ED AS TO LEGAL FORM ,DEBRA A DRAYOVITCH, CITY ATTORNEY BY EN-%WPD0CS\0RD\COYLE ORDINANCE NO. 93 IM AN ORDINANCE AUTHORIZING THE CITY MANAGER TO EXECUTE AN AGREEMENT BETWEEN THE CITY OF DENTON AND RUTH INEZ COYLE TO PURCHASE PROPERTY; AUTHORIZING THE EXPENDITURE OF FUNDS THEREFOR; AND PROVIDING AN EFFECTIVE DATE. THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS: SECTION I. That the City Manager is authorized to execute a Real Estate Contract between the City of Denton and Ruth Inez Coyle for the purchase of property, under the terms and conditions contained in said agreement, which is attached hereto and made a part hereof, and is authorized to execute any other document which may be associated with the purchase of said property. SECTION II. That the City Council hereby authorizes the expenditure of funds in the amount of $75,000.00 for the purchase of said property and any closing costs, including the cost of property survey, as specified in the agreement. SECTION III. That this ordinance shall become effective immediately upon its passage and approval. / ~ PASSED AND APPROVED this the -6 day of y~ Gam„ 1993. BOB CASTLEBERRY, MA ATTEST: JENNIFER WALTERS, CITY SECRETARY BY: (11 'X - - 0 APPROVED AS TO LEGAL FORM: ,DEBRA A. DRAYOVITCH, CITY ATTORNEY BY REAL ESTATE CONTRACT STATE OF TEXAS COUNTY OF DENTON THIS CONTRACT OF SALE is made by and between RUTH INEZ COYLE (hereinafter referred to as "Seller") and CITY OF DENTON, TEXAS, a home rule municipality, of Denton, Denton County, Texas, (hereinaf- ter 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, the tract of land containing ap- proximately 1.060 acres of land situated in Denton County, Texas, being more particularly described in Exhibit A attached hereto and incorporated herein by reference for all purposes together with all and singular the rights and appurtenances pertaining to the prop- erty, including any right, title and interest of Seller in and to adjacent streets, alleys or rights-of-way (all of such real prop- erty, rights, and appurtenances being hereinafter referred to as the "Property"), together with any improvements, fixtures, and per- sonal property situated on and attached to the Property, for the consideration and upon and subject to the terms, provisions, and conditions hereinafter set forth. However, it is expressly under- stood that the Seller may, at her own expense prior to delivery of possession of the Property, remove the following listed items from the Property: 1. A well house. 2. A cook stove and refrigerator. 3. All drapes. 4. A butane tank. PURCHASE PRICE 1. Amount of Purchase Price. The purchase price for the Property shall be the sum of SEVENTY-FIVE THOUSAND DOLLARS ($75,000.00). 2. Payment of Purchase Price. The full amount of the Purchase Price shall be payable in cash at the closing. PURCHASER'S OBLIGATIONS The obligations of Purchaser hereunder to consummate the trans- actions 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. 1. 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 a pre- liminary title report (the "Title Report") 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 re- ceives the Title Report that the condition of title as set forth in the title binder is or is not satisfactory, and in the event Pur- chaser states the condition is not satisfactory, Seller shall, at Seller's option, promptly undertake to eliminate or modify all unacceptable matters to the reasonable satisfaction of Purchaser. In the event Seller is unable to do so within ten (10) days after receipt of written notice, this Agreement shall thereupon be null and void for all purposes and the Escrow Deposit shall be forthwith returned by the Title Company to Purchaser; otherwise, this con- dition shall be deemed to be acceptable and any objection thereto shall be deemed to have been waived for all purposes. 2. Survey. Upon written request by Purchaser delivered to Seller contemporaneously with Purchaser's delivery of an executed original of this Agreement, Seller shall within twenty (20) days from the date hereof, at Purchaser's sole cost and expense, deliver to Purchaser 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 rights-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 satisfaction of Purchaser. In the event Seller is unable to do so within ten (10) days after receipt of written notice, Purchaser may terminate this Agreement, and the Agreement shall thereupon be null and void for all purposes and the Escrow Deposit shall be returned by the Title Company to Purchaser. Purchaser's failure to give Seller this written notice shall be deemed to be Purchaser's acceptance of the survey. PAGE 2 3. Seller's Compliance. Seller shall have performed, ob- served, 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 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. 2. Except for the prior actions of Purchaser, there is no pending or threatened condemnation or similar proceeding or asses- sment affecting 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. 3. Seller has complied with all applicable laws, ordinances, regulations, statutes, rules and restrictions relating to the Property, or any part thereof. 4. 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 (ROTA), as amended, and the Comprehensive Environmental Response Compensation and Liability Act (CERCLA), as amended. In the event any such toxic or hazardous wastes or materials are found upon the Property, Seller shall be responsible for the expense of removal of these wastes or materials upon receipt of written notice of the presence of these wastes or materials. CLOSING The closing shall be held at the office of Republic Title Company, Denton, Texas, on or before October 15, 1993, or at such time, date, and place as Seller and Purchaser may mutually agree upon (which date is herein referred to as the "closing date"). CLOSING REQUIREMENTS Seller's Re uirements. 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, easements, assessments, and restrictions, except for the following: PAGE 3 1. General real estate taxes for the year of closing and subsequent years not yet due and payable; 2. Any exceptions approved by Purchaser pursuant to Purchaser's Obligations here- of; and 3. Any exceptions approved by Purchaser in writing. B. Deliver to Purchaser a Texas Owner's Title Policy at Seller's sole expense, issued by Republic Title Company, Denton, Texas, (the "Title Company") in Purchaser's favor in the full amount of the purchase price, insuring Pur- chaser's fee simple title to the Property subject only to those title exceptions listed in Closing Requirements here- of, 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 Title Policy, provided, however: 1. 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 cove- nants shall be endorsed "None of Record"; 3. The exception as to the lien for taxes shall be limited to the year of closing and shall be endorsed "Not Yet Due and Payable"; and 4. The exception as to liens encumbering the Property shall be endorsed "None of Record". C. Deliver to Purchaser possession of the Property on or before January 1, 1994. From the date of Closing until January 1, 1994, Seller will be allowed to continue to reside in the house located at 4616 Foster Road, Denton, Texas, if she should desire. 2. Purchaser's Requirements. Purchaser shall pay the full cash purchase price to Seller at Closing in immediately available funds. 3. Closing Costs. Through the date of Closing, Purchaser shall only be responsible for the payment of taxes assessed by the City of Denton and, Seller shall pay all other taxes assessed by any other tax jurisdiction through the date of Closing. Any taxes PAGE 4 imposed, assessed or arising because of a change of use of the Property after closing shall be paid by Seller, save and except taxes so imposed by the City of Denton, which taxes shall be paid by Purchaser. All other costs and expenses of closing in consummating the sale and purchase of the Property not specifically allocated herein shall be equally shared by Purchaser and Seller. REAL ESTATE Any real estate commissions occasioned by the consummation of this Agreement shall be the sole responsibility of Seller, and Seller agrees to indemnify and hold harmless Purchaser from any and all claims for these commissions. 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 may either enforce specific performance of this Agreement or terminate this Agreement. 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 may either enforce specific performance of this Agreement, or terminate this Agreement. MISCELLANEOUS 1. 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, war- ranties, 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. 3. 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, addres- sed to Seller or Purchaser, as the case may be, at the address set forth beneath the signature of the party. 4. 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 PAGE 5 Denton County, Texas. 5. Parties Bound. This Agreement shall be binding upon and inure to the benefit of the parties and their respective heirs, executors, administrators, legal representatives, successors and assigns where permitted by this Agreement. 6. Legal Construction. In case any one or more of the pro- visions contained in this Agreement shall for any reason be held to be invalid, illegal, or unenforceable in any respect, said in- validity, 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. 8. Time of Essence. Time is of the essence in this Agreement. 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. Memorandum of Contract. Upon request of either party, both parties shall promptly execute a memorandum of this Agreement suitable for filing of record. 11. 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. 12. Time Limit. In the event a fully executed copy of this Agreement has not been returned to Purchaser within five (5) days after Purchaser executes this Agreement and delivers same to Sel- ler, Purchaser shall have the right to terminate this Agreement upon written notice to Seller. DATED this X ML day of p{e m b~. , 1993. SELLER 94~1x_ z UT INEZ COYL 4616 Foster R d, Dent, Texas 76208 PAGE 6 PURCHASER i THE CITY 7Z7 B ~tOYD V. HARRELL, ~y Manager 215 E. McKinney Str et Denton, Texas 7620 STATE OF TEXAS COUNTY OF DENTON This instrument was acknowledged before me on „ry~/~~ a 9 N93 bV RUTH INEZ COYLE. AND FOR STATE OF TEXAS COUNTY OF DENTON ~o This instrument is acknowledged before me, the on ieV11 C 3 by LLOYD V. HARRELL, City Manager, of the City of Denton, a municipal corporation, known to me to be the person and officer whose name is subscribed to the foregoing instrument and acknowl- edged to me that the same was the act of the said City of Denton, Texas, a municipal corporation, that he was duly authorized to perform the same by appropriate resolution of the City Council of the City of Denton and that he executed the same as the act of the said City for purpose and consideration therein expressed, and in the capacity therein stated. C. - ~ -l NOTARY PUBLIC IN AND FOR TEXAS ATTEST: JENNIFER WALTERS, /CITY SECRETARY BY: ALAI. , G-f/22C~~2-L AP®ED A,8/TO LEGAL FORM: DE~ A. DRAYOVITCH, CITY ATTORNEY ~~x_~~C1G14~a~_ BY: /-0-A" of a+>o~ IEANETTE SCMT NOTARY PueUC, STATE OF 1EX9 , Z! My Commission Expire: Memh 31,1997 ~~F Of tW ' A'1 E:\NPDVCS\K\COYLE.K PAGE 7 EXHIBIT A ALL that certain lot, tract, or parcel of land situated in the G. Walker Survey A-1330 Denton County, Texas and being the remainder of a "called" 42.5 acre tract shown by deed from N.A. Lowe and wife, Bertha Lowe to W.A. Coyle and wife, Ruth Coyle dated January 10, 1953 and recorded in Volume 385, Page 177 of the Deed Records of Denton County and being more particularly described by metes and bounds as follows; BEGINNING at a 3/8 inch iron pin set in the center of Foster Road at a point north 880 12' 03" west 321.63 feet from the northeast corner of said Coyle tract (Deed calls "west"), said beginning point also being the northwest corner of a tract shown by Deed to Robert H. Matzinger wife, Frances Matzinger, recorded in Volume 574, Page 77 Deed Records; THENCE south 20 07' 00" west with Matzinger's west line and along a tree line 230.73 feet to a fence corner post at the most northerly northeast corner of a tract shown by deed to Judy M. Kay recorded in Volume 1046, Page 428 Deed Records; THENCE north 880 30' 37" west with a fence 202.12 feet to a fence corner post (Kay's Deed calls north 88° 28' 29" west with a fence 202.38 feet) at the northwest corner of Kay's tract and in the east line of a tract shown by deed to George J. Kay and Judy M. Kay recorded in Volume 970, Page 277 Deed Records; THENCE north 30 21' 00" east with the east line of the last mentioned Kay tract 231.91 feet to a 3/8 inch iron pin set at the northeast corner of said Kay tract and in the center of Foster Road in the north line of the "called" 42.5 acre Coyle tract; THENCE south 880 12' 03" east with the north line of said Coyle tract 197.11 feet to the Point of Beginning and containing 1.060 acres of land. AEE0028C GF#93R07758 DT1 WARRANTY DEED Date: October 12, 1993 Grantor: Ruth Inez Coyle Grantor's Mailing Address: (including county) Grantee: City of Denton, Texas Grantee's Mailing Address: 215 E. McKinney (including county) Denton, Denton County, Texas 76201 Consideration: For and in consideration of the sum of TEN AND N01100 DOLLARS ($10.00) and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged. Property (including any improvements): All that certain lot, tract, or parcel of land situated in the G. Walker Survey A-1330 Denton County, Texas and being the remainder of a "called" 42.5 acre tract shown by deed from N. A. Lowe and wife, Bertha Lowe to W.A. Coyle and wife, Ruth Coyle dated January 10, 1953 and recorded in Volume 385, Page 177 of the Deed Records of Denton County and being more particularly described on the Exhibit "A" attached hereto and made a part hereof for all purposes. Reservations from and Exceptions to Conveyance and Warranty: This conveyance is made and accepted subject to all easements, reservations, conditions, covenants and restrictive covenants as the same appear of record in the office of the County Clerk of the county in which the property is situated, to the extent that the same apply to subject property and remain in effect. Grantor, for the consideration 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 hold it to Grantee, Grantee's heirs, executors, 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. 4RU Inez Coyl ACKNOWLEDGMENT THE STATE OF TEXAS ) COUNTY OF DENTON ) THIS INSTRUMENT was acknowledged October, 1993 by Ruth Inez Coyle. AMY BRUMLEY " NOTARY PUBLIC STATE OF TEXAS My Comm, Exp. 2-8-94 After Recording Please Return to: City of Denton, Texas 215 E. McKinney Denton, Texas 76201 A:\WarDeed.Frm me on the day of e ~ y .a EXHIBIT A ALL that certain lot, tract, or parcel of land situated in the G. Walker Survey A-1330 Denton County, Texas and being the remainder of a "called" 42.5 acre tract shown by deed from N.A. Lowe and wife, Bertha Lowe to W.A. Coyle and wife, Ruth Coyle dated January 10, 1953 and recorded in Volume 385, Page 177 of the Deed Records of Denton County and being more particularly described by metes and bounds as follows; BEGINNING at a 3/8 inch iron pin set in the center of Foster Road at a point north 88° 12' 03" west 321.63 feet from the northeast corner of said Coyle tract (Deed calls "west"), said beginning point also being the northwest corner of a tract shown by Deed to Robert H. Matzinger wife, Frances Matzinger, recorded in Volume 574, Page 77 Deed Records; THENCE south 20 07' 00" west with Matzinger's west line and along a tree line 230.73 feet to a fence corner post at the most northerly northeast corner of a tract shown by deed to Judy M. Kay recorded in Volume 1046, Page 428 Deed Records; THENCE north 880 30' 37" west with a fence 202.12 feet to a fence corner post (Kay's Deed calls north 881 28' 29" west with a fence 202.38 feet) at the northwest corner of Kay's tract and in the east line of a tract shown by deed to George J. Kay and Judy M. Kay recorded in Volume 970, Page 277 Deed Records; THENCE north 30 21' 00" east with the east line of the last mentioned Kay tract 231.91 feet to a 3/8 inch iron pin set at the northeast corner of said Kay tract and in the center of Foster Road in the north line of the "called" 42.5 acre Coyle tract; THENCE south 880 12' 03" east with the north line of said Coyle tract 197.11 feet to the Point of Beginning and containing 1.060 acres of land. AEE0028C OF THE AESCBICHEREIN FL PROPERTY BECAUSE OF CUOB Ofl&E IS INVALIOANDUNENFORCEAILE UNDER FEDERAL LAW. TIE STATE OF fE%AS CCU77~~NOFp&NTON1 6 h;rauycanlN4hN d;Ia!T'IfLmsOil"1m FILED IntlteFlla NumbeBBQOenCeon ttmd0vand 4,11M a stamead WIM bYms;cndWAS&d SECOSOEO,Inthe C:?!:kVOn;b6'~6a~:_ '~ncnig o nsen 001' 2 71993 oex COUL VENTON COUNTY, Y, TEMS (5, w.. Filed for Record in: DENTON COUNTY, TX HONORABLE TIM HODGES /COUNTY CLERK On 1993/10/27 At 10:50A Number: 93-R00i6010 Type : WD Y Y = 1 i ~i r i Nft~ 2 „5,r~ RP; ld~ rk~ W t g' Y I la M I , N's I rk G v p I Y [ ~ . ' e "F f ~ 4 . .I pe 3_ e . 4 "yt{ 2 v C ~~Fr3' a s a Er ~r ~t r J I t y { L. r. t ~ y 4=p a ` 1.. a 7 W l KKK -x T 5$R _ ~ L ^a t4 x p a p t & C C ; E \YPDOMORMOYLE ORDINANCE NO AN ORDINANCE AUTHORIZING THE CITY MANAGER TO EXECUTE AN AGREEMENT BETWEEN THE CITY OF DENTON AND RUTH INEZ COYLE TO PURCHASE PROPERTY, AUTHORIZING THE EXPENDITURE OF FUNDS THEREFOR, AND PROVIDING AN EFFECTIVE DATE THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS SECTION I. That the City Manager is authorized to execute a Real Estate Contract between the City of Denton and Ruth Inez Coyle for the purchase of property, under the terms and conditions contained in said agreement, which is attached hereto and made a part hereof, and is authorized to execute any other document which may be associated with the purchase of said property SECTION II That the city council hereby authorizes the expenditure of funds in the amount of $75,000 00 for the purchase of said property and any closing costs, including the cost Of property survey, as specified in the agreement SECTION III. That this ordinance shall become effective immediately upon its passage and approval PASSED AND APPROVED this the S~day of , 1993 ATTEST JENNIFER WALTERS, CITY SECRETARY BY -09~ APPROVED AS TO LEGAL FORM DEBRA A DRAYOVITCH, CITY ATTORNEY BY REAL ESTATE CONTRACT STATE OF TEXAS COUNTY OF DENTON THIS CONTRACT OF SALE is made by and between RUTH INEZ COYLE (hereinafter referred to as "Seller") and CITY OF DENTON, TEXAS, a home rule municipality, of Denton, Denton County, Texas, (hereinaf- ter 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, the tract of land containing ap- proximately 1 060 acres of land situated in Denton County, Texas, being more particularly described in Exhibit A attached hereto and incorporated herein by reference for all purposes together with all and singular the rights and appurtenances pertaining to the prop- erty, including any right, title and interest of Seller in and to adjacent streets, alleys or rights-of-way (all of such real prop- erty, rights, and appurtenances being hereinafter referred to as the "Property"), together with any improvements, fixtures, and per- sonal property situated on and attached to the Property, for the consideration and upon and subject to the terms, provisions, and conditions hereinafter set forth However, it is expressly under- stood that the Seller may, at her own expense prior to delivery of possession of the Property, remove the following listed items from the Property 1 A well house 2 A cook stove and refrigerator 3 All drapes 4 A butane tank PURCHASE PRICE 1 Amount of Purchase Price The purchase price for the Property shall be the sum of SEVENTY-FIVE THOUSAND DOLLARS ($75,000 00) 2 Payment of Purchase Price The full amount of the Purchase Price shall be payable in cash at the closing PURCHASER'S OBLIGATIONS The obligations of Purchaser hereunder to consummate the trans- actions 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 1 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 a pre- liminary title report (the "Title Report") 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 re- ceives the Title Report that the condition of title as set forth in the title binder is or is not satisfactory, and in the event Pur- chaser states the condition is not satisfactory, Seller shall, at Seller's option, promptly undertake to eliminate or modify all unacceptable matters to the reasonable satisfaction of Purchaser In the event Seller is unable to do so within ten (10) days after receipt of written notice, this Agreement shall thereupon be null and void for all purposes and the Escrow Deposit shall be forthwith returned by the Title Company to Purchaser, otherwise, this con- dition shall be deemed to be acceptable and any objection thereto shall be deemed to have been waived for all purposes 2 Survey Upon written request by Purchaser delivered to Seller contemporaneously with Purchaser's delivery of an executed original of this Agreement, Seller shall within twenty (20) days from the date hereof, at Purchaser's sole cost and expense, deliver to Purchaser 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 rights-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 satisfaction of Purchaser In the event Seller is unable to do so within ten (10) days after receipt of written notice, Purchaser may terminate this Agreement, and the Agreement shall thereupon be null and void for all purposes and the Escrow Deposit shall be returned by the Title Company to Purchaser Purchaser's failure to give Seller this written notice shall be deemed to be Purchaser's acceptance of the survey PAGE 2 3 Seller's Compliance Seller shall have performed, ob- served, 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 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 2 Except for the prior actions of Purchaser, there is no pending or threatened condemnation or similar proceeding or asses- sment affecting 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 3 Seller has complied with all applicable laws, ordinances, regulations, statutes, rules and restrictions relating to the Property, or any part thereof 4 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 (RCTA), as amended, and the comprehensive Environmental Response Compensation and Liability Act (CERCLA), as amended In the event any such toxic or hazardous wastes or materials are found upon the Property, Seller shall be responsible for the expense of removal of these wastes or materials upon receipt of written notice of the presence of these wastes or materials CLOSING The closing shall be held at the office of Republic Title Company, Denton, Texas, on or before October 15, 1993, or at such time, date, and place as Seller and Purchaser may mutually agree upon (which date is herein referred to as the "closing date") CLOSING REQUIREMENTS Seller's Recuirements 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, easements, assessments, and restrictions, except for the following PAGE 3 1 General real estate taxes for the year of closing and subsequent years not yet due and payable, 2 Any exceptions approved by Purchaser pursuant to Purchaser's Obligations here- of, and 3 Any exceptions approved by Purchaser in writing 8 Deliver to Purchaser a Texas Owner's Title Policy at Seller's sole expense, issued by Republic Title Company, Denton, Texas, (the "Title Company") in Purchaser's favor in the full amount of the purchase price, insuring Pur- chaser's fee simple title to the Property subject only to those title exceptions listed in Closing Requirements here- of, 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 Title Policy, provided, however 1 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 cove- nants shall be endorsed "None of Record", 3 The exception as to the lien for taxes shall be limited to the year of closing and shall be endorsed "Not Yet Due and Payable", and 4 The exception as to liens encumbering the Property shall be endorsed "None of Record" C Deliver to Purchaser possession of the Property on or before January 1, 1994 From the date of Closing until January 1, 1994, Seller will be allowed to continue to reside in the house located at 4616 Foster Road, Denton, Texas, if she should desire 2 Purchaser's Requirements Purchaser shall pay the full cash purchase price to Seller at Closing in immediately available funds 3 Closinc Costs Through the date of Closing, Purchaser shall only be responsible for the payment of taxes assessed by the City of Denton and, Seller shall pay all other taxes assessed by any other tax jurisdiction through the date of Closing Any taxes PAGE 4 imposed, assessed or arising because of a change of use of the Property after closing shall be paid by Seller, save and except taxes so imposed by the City of Denton, which taxes shall be paid by Purchaser All other costs and expenses of closing in consummating the sale and purchase of the Property not specifically allocated herein shall be equally shared by Purchaser and Seller REAL ESTATE COMMISSION Any real estate commissions occasioned by the consummation of this Agreement shall be the sole responsibility of Seller, and Seller agrees to indemnify and hold harmless Purchaser from any and all claims for these commissions 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 may either enforce specific performance of this Agreement or terminate this Agreement BREACH BY 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 may either enforce specific performance of this Agreement, or terminate this Agreement MISCELLANEOUS 1 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, war- ranties, 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 3 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, addres- sed to Seller or Purchaser, as the case may be, at the address set forth beneath the signature of the party 4 Texas Law to Applv_ 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 PAGE 5 Denton County, Texas 5 Parties Bound This Agreement shall be binding upon and inure to the benefit of the parties and their respective heirs, executors, administrators, legal representatives, successors and assigns where permitted by this Agreement 6 Laaal Construction In case any one or more of the pro- visions contained in this Agreement shall for any reason be held to be invalid, illegal, or unenforceable in any respect, said in- validity, 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 8 Time of Essence Time is of the essence in this Agreement 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 Memorandum of Contract Upon request of either party, both parties shall promptly execute a memorandum of this Agreement suitable for filing of record 11 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 12 Time Limit In the event a fully executed copy of this Agreement has not been returned to Purchaser within five (5) days after Purchaser executes this Agreement and delivers same to Sel- ler, Purchaser shall have the right to terminate this Agreement upon written notice to Seller DATED this X14--k day of Ja.p ~e m bp r , 1993 SELLER RUT INEZ COYL 4616 Foster R d, Dent , Texas 76208 PAGE 6 PURCHASER THE CITY i B D 215 E Denton STATE OF TEXAS COUNTY OF DENTON y$ D/E/NTON, TEXAS 7 HARRELL, Ci y Manager McKinney Str et Texas 7620 This instrument was acknowledged before me on P.m/~ /I43 bV RUTH INEZ COYLE STATE OF TEXAS COUNTY OF DENTON Tai s instrument is acknowledged before me, the on by LLOYD V HARRELL, City Manager, of the City of Denton, a munia pal corporation, known to me to be the person and officer whose name is subscribed to the foregoing instrument and acknowl- edged to me that the same was the act of the said City of Denton, Texas, a municipal corporation, that he was duly authorized to perform the same by appropriate resolution of the City Council of the City of Denton and that he executed the same as the act of the said city for purpose and consideration therein expressed, and in the capacity therein stated clt~ C- NOT Y PUBLIC IN AND FOR TEXAS ATTESTS JENNIFER WALTERS, CITY SECRETARY BY LEGAL FORM ITCH, CITY ATTORNEY BY ~,pY Py~ JEANEM SC I 7 sow %IBUC SBBB OF low VIC0,MWonEWirosMecASI B1B1 PAGE 7 EXHIBIT A ALL that certain lot, tract, or parcel of land situated in the G Walker Survey A-1330 Denton County, Texas and being the remainder of a "called" 42 5 acre tract shown by deed from N A Lowe and wife, Bertha Lowe to W A Coyle and wife, Ruth Coyle dated January 10, 1953 and recorded in Volume 385, Page 177 of the Deed Records of Denton County and being more particularly described by metes and bounds as follows, BEGINNING at a 3/8 inch iron pin set in the center of Foster Road at a point north 880 12' 03" west 321 63 feet from the northeast corner of said Coyle tract (Deed calls "west"), said beginning point also being the northwest corner of a tract shown by Deed to Robert H Matzinger Wife, Frances Matzinger, recorded in Volume 574, Page 77 Deed Records, THENCE south 20 07' 00" west with Matzinger's west line and along a tree line 230 73 feet to a fence corner post at the most northerly northeast corner of a tract shown by deed to Judy M Kay recorded in Volume 1046, Page 428 Deed Records, THENCE north 880 30' 37" west with a fence 202 12 feet to a fence corner post (Kay's Deed calls north 88° 28' 29" west with a fence 202 38 feet) at the northwest corner of Kay's tract and in the east line of a tract shown by deed to George J Kay and Judy M Kay recorded in Volume 970, Page 277 Deed Records, THENCE north 30 21' 00" east with the east line of the last mentioned Kay tract 231 91 feet to a 3/8 inch iron pin set at the northeast corner of said Kay tract and in the center of Foster Road in the north line of the "called" 42 5 acre Coyle tract, THENCE south 880 12' 03" east with the north line of said Coyle tract 197 11 feet to the Point of Beginning and containing 1 060 acres of land AEE0028C GF#93R07758 DTI WARRANTY DEED Date October 12, 1993 Grantor Ruth Inez Coyle Grantor's Mailing Address (including county) Grantee City of Denton, Texas Grantee's Mailing Address 215 E McKinney (including county) Denton, Denton County, Texas 76201 Consideration For and in consideration of the sum of TEN AND N01100 DOLLARS ($10 00) and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged Property (including any improvements) All that certain lot, tract, or parcel of land situated in the G Walker Survey A-1330 Denton County, Texas and being the remainder of a "called" 42 5 acre tract shown by deed from N A Lowe and wife, Bertha Lowe to W A Coyle and wife, Ruth Coyle dated January 10, 1953 and recorded in Volume 385, Page 177 of the Deed Records of Denton County and being more particularly described on the Exhibit "A" attached hereto and made a part hereof for all purposes Reservations from and Exceptions to Conveyance and Warranty This conveyance is made and accepted subject to all easements, reservations, conditions, covenants and restrictive covenants as the same appear of record in the office of the County Clerk of the county in which the property is situated, to the extent that the same apply to subject property and remain in effect Grantor, for the consideration 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 hold it to Grantee, Grantee's heirs, executors, 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, executor6. wrlm~n~a+,nf ACKNOWLEDGMENT THE STATE OF TEXAS ) COUNTY OF DENTON ) THIS INSTRUMENT was acknowledged October, 1993 by Ruth Inez Coyle * :A-** BROMLEY RY PUBLIC SE OF TEXAS Mm Ezp Z g gq After Recording Please Return to City of Denton, Texas 215 E McKinney Denton, Texas 76201 me on theA~-day of is 14 EXHIBIT A ALL that certain lot, tract, or parcel of land situated in the G Walker Survey A-1330 Denton County, Texas and being the remainder of a "called" 42 5 acre tract shown by deed from N A Lowe and wife, Bertha Lowe to W A Coyle and wife, Ruth Coyle dated January 10, 1953 and recorded in Volume 385, Page 177 of the Deed Records of Denton County and being more particularly described by metes and bounds as follows, BEGINNING at a 3/8 inch iron pin set in the center of Foster Road at a point north 880 12' 03" west 321 63 feet from the northeast corner of said Coyle tract (Deed calls "west"), said beginning point also being the northwest corner of a tract shown by Deed to Robert H Matzinger wife, Frances Matzinger, recorded in Volume 574, Page 77 Deed Records, THENCE south 20 07' 00" west with Matzinger's west line and along a tree line 230 73 feet to a fence corner post at the most northerly northeast corner of a tract shown by deed to Judy M Kay recorded in Volume 1046, Page 428 Deed Records, THENCE north 880 30' 37" west with a fence 202 12 feet to a fence corner post (Kay's Deed calls north 88° 28' 29" west with a fence 202 38 feet) at the northwest corner of Kay's tract and in the east line of a tract shown by deed to George J Kay and Judy M Kay recorded in Volume 970, Page 277 Deed Records, THENCE north 30 21' 00" east with the east line of the last mentioned Kay tract 231 91 feet to a 3/8 inch iron pin set at the northeast corner of said Kay tract and in the center of Foster Road in the north line of the "called" 42 5 acre Coyle tract, THENCE south 880 12' 03" east with the north line of said Coyle tract 197 it feet to the Point of Beginning and containing 1 060 acres of land AEE0028C