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1991-047exo ORDINANCE NO 91-16v-rL AN ORDINANCE APPROVING A CONTRACT PROVIDING FOR THE EXCHANGE OF CERTAIN REAL PROPERTY OWNED BY NCNB AND THE CITY, AUTHORIZING THE ACCEPTANCE OF AN ACCESS EASEMENT FROM NCNB, REPEALING ORDINANCE 91- 023, AND PROVIDING FOR AN EFFECTIVE DATE WHEREAS, the City, in accordance with the requirements of TEX LOC GOVT CODE ANN §272 001 (Vernon 1988), has advertised that for the exchange of a certain tract of real property for another tract of real property located at the intersection of Lillian Miller Road and Teasley Lane, and WHEREAS, the City Manager having recommended to the City Coun- cil that the said exchange of land be approved, NOW, THEREFORE, THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS SECTION I That the City Council of the City of Denton, Texas, approves the contract between the City and NCNB providing for the exchange of the real property described in the contract, a copy of which is attached hereto as Exhibit "A" and incorporated by refer- ence herein SECTION II That the City Council authorizes the Mayor and City Manager to execute any and all documents necessary to con- summate the purchase of real property in accordance with the con- tract SECTION III That the Mayor is authorized to accept an access easement from NCNB, a copy of which is attached hereto as Exhibit "B" SECTION IV That ordinance no 91-023 is hereby repealed That the City Secretary is hereby directed to note on the face of ordinance 91-023 the fact that said ordinance is repealed and superseded by this ordinance SECTION V That this ordinance shall become effective immedi- ately upon its passage and approval PASSED AND APPROVED this the day of , 1991 CASTLEBERRY, MA ATTEST JENNIFER WALTERS, CITY SECRETARY BY 1 APPROI AS O LEGAL FORM DEBRA A DRAYOVITCH, CITY ATTORNEY BY PAGE 2 This Exchange Contract ("Contract") is made and entered into as of the Effective Date between NCNB TEXAS NATIONAL BANK, (ASSIGNEE OF THE FEDERAL DEPOSIT INSURANCE CORPORATION, AS RECEIVER OF FIRST REPUBLICBANK DALLAS, N A , SUCCESSOR BY MERGER TO REPUBLICBANK DALLAS, N A , FORMERLY KNOWN AS REPUBLIC BANK OF DALLAS), TRUSTEE, ("bAnk"), and the City of Denton ("City"), a municipal corporation and political subdivision of the State of Texas, acting by and through its duly authorized officers WHEREAS, Bank owns that certain tract of land situated in Denton County, Texas and being more particularly described in Exhibit A ("Tract A") attached hereto and incorporated herein for all purposes, and WHEREAS, City owns that certain tract of land situated in Denton County, Texas and being more particularly described in Exhibit B ("Tract B") attached hereto and incorporated herein for all purposes, and WHEREAS, City wishes to acquire Tract A, and WHEREAS, Bank is willing to convey Tract A to City in exchange for city conveying Tract B to Bank, upon the terms and conditions contained herein, NOW, THEREFORE, for and in consideration of the sum of Ten and No/100 Dollars ($10 00) in cash to each paid in hand by the other, the receipt and sufficiency of which is hereby acknowledged and confessed, and of the mutual agreements contained herein, Bank and City hereby agree as follows 1 Exchange Agreement Upon the terms and conditions contained herein, Bank agrees to convey Tract A to City, and City agrees to convey Tract B to Bank A Between the Effective Date and the Closing Date, Bank agrees that Bank will not through affirmative actions taken after the Effective Date create any additional encumbrance affecting Tract A without the express prior written consent of City City agrees that City will not withhold consent to a proposed additional encumbrance affecting Tract A if such proposed additional encumbrance has no material, adverse effect upon the value, development or use of Tract A If Bank through affirmative actions taken after the Effective Date does create any additional encumbrance affecting Tract A without the express prior written consent of City, Bank shall be required to remove any such additional encumbrance at Bank's sole cost and expense prior to or at the Closing B Between the Effective Date and the Closing Date, City agrees that City will not through affirmative actions taken after the Effective Date create any additional encumbrance affecting Tract B without the express prior written consent of Bank Bank agrees that Bank will not withhold consent to a proposed additional encumbrance affecting Tract B if such proposed additional encumbrance has no material, adverse effect upon the value, development or use of Tract B If City through affirmative actions taken after the Effective Date does create any additional encumbrance affecting Tract B without the express prior written consent of Bank, City shall be required to remove any such additional encumbrance at City's sole cost and expense prior to or at the Closing. 3 Closina Date The transactions contemplated in this Contract shall be closed (the "Closing") on or before one hundred eighty (180) calendar days from the Effective Date, or at a time, on a date and at a place agreeable to both Bank and City Delivery of Deeds. Easement Agreement and Possession A At the Closing, Bank shall (i) execute, acknowledge and deliver to city a General Warranty Deed conveying Tract A to City (the "Bank Deed"), and (ii) deliver possession of Tract A to City B At the Closing, City shall (i) execute, acknowledge and deliver to Bank a Special Warranty Deed conveying Tract B to Bank (the "City Deed"), and (ii) deliver possession of Tract B to Bank C At the Closings, Bank and City shall execute, acknowledge and deliver, each to the other, that certain Easement Agreement (herein so called) whereby Bank grants to - 2 - City an easement over and across land owned by Bank, such easement to be for the benefit of Tract A 5 ProBerty Tax Liability A Bank hereby agrees that Bank will pay all estimated 1991 property taxes levied or assessed against Tract A, prorated from January 1, 1991 through Closing, at a rate of $3 86 per day B The provisions of this paragraph 5 shall survive the Closing and the delivery of the Bank Deed and the City Deed A Bank will pay the filing fees for the City Deed, and City will pay the filing fees for the Bank Deed B If Bank desires to obtain a title insurance policy covering Tract B, Bank shall pay the premium therefor if City wishes to obtain a title insurance policy covering Tract A, City shall pay the premium therefor If only one party desires such title insurance, that party may select the title company If both parties desire title insurance, then it is agreed that the title insurance company shall be Commonwealth Title Company C If there are any closing costs not allocated to Bank or City herein, such closing costs shall be paid by the party incurring same A For a period of thirty (30) days after the Effective Date, Bank agrees to allow City to enter upon Tract A for the purpose of inspecting same, and for the purpose of conducting ouch environmental tests, feasibility studies and other tests or studies as City deems advisable If City, in City's sole discretion, is not satisfied with such inspections, tests or studies, City may terminate this Contract by giving written notice of termination to Bank on or before thirty (30) days after the Effective Date In the event City terminates this Contract pursuant to this paragraph 7, City agrees to restore Tract A substantially to its condition prior to City's entry B. For a period of thirty (30) days after the Effective Pate, City agrees to allow Bank to enter upon Tract B for the - 3 - purpose of inspecting same, and for the purpose of conducting such environmental tests, feasibility studies and other tests or studies as Bank deems advisable If Bank, in Bank's sole discretion, is not satisfied with such inspections, tests or studies, Bank may terminate this Contract by giving written notice of termination to City on or before thirty (30) days after the Effective Date In the event Bank terminates this Contract pursuant to this paragraph 7, Bank agrees to restore Tract B substantially to its condition prior to Bank's entry 8 Authority A Within fifteen (15) days after the Effective Date, City agrees to furnish to Bank, and if necessary, Bank's Title Company, written evidence of the authority of the party(s) executing this Contract on behalf of City City agrees to furnish to Bank, and if necessary, Bank's Title Company, at or prior to the Closing written evidence of the authority of the party(s) executing the City Deed on behalf of City B Within fifteen (15) days after the Effective Date, Bank agrees to furnish to City, and if necessary, City's Title Company, written evidence of the authority of the party(s) executing this Contract on behalf of Bank Bank agrees to furnish to City, and if necessary, City's Title Company, at or prior to the Closing written evidence of the authority of the party(s) executing the Bank Deed on behalf of Bank 9 No Commissions Bank and City warrant and represent to each other that no real estate brokers', agents' or finders' fees or commissions are due arising in connection with the exchange of Tract A for Tract B, from the execution of this Contract or from the consummation of the transactions contemplated herein, and each party hereto hereby agrees to indemnify and hold the other party harmless from claims made by any person for any such fees, commissions or like compensation claiming to have dealt with the party so indemnifying the other 10 Remedies If Bank breaches any of the agreements of Bank contained in this Contract and such breach is not cured within fifteen (15) days after City has delivered written notice thereof to Bank, City at City's election may either terminate this Contract, or seek all other remedies set forth in this Contract or available at law, in equity or by statute, including specific performance, provided, however, if Bank is unable to deliver title to Tract A free and clear of any encumbrances, City's only remedy - 4 - shall be termination of this Contract unless the encumbrance in question is an encumbrance created after the Effective Date by the affirmative actions of Bank to which City did not consent in writing, in which event City shall be entitled to exercise all of the remedies set forth hereinabove If City breaches any of the agreements of City contained in this Contract and such breach is not cured within fifteen (15) days after Bank has delivered written notice thereof to City, Bank at Bank's election may either terminate this Contract, or seek all other remedies set forth in this Contract or available at law, in equity or by statute, including specific performance, provided, however, if City is unable to deliver title to Tract B free and clear of any encumbrance, Bank's only remedy shall be termination of this Contract unless the encumbrance in question is an encumbrance created after the Effective Date by the affirmative actions of city, in which event Bank shall be entitled to exercise all of the remedies set forth hereinabove 11 Attorneys' Fees Should either party to this Contract commence legal proceedings against the other to enforce the terms and provisions of this Contract, the party losing in such legal proceedings shall pay the attorneys' fees and expenses of the party prevailing in such legal proceedings 12 Time of Essence Time is important to both Bank and City in the performance of this Contract and they have agreed that strict compliance is required as to any date set forth herein if the final date of any period which is set forth in any term or provision of this Contract falls upon a Saturday, Sunday or legal holiday under the laws of the United States or the State of Texas, then, and in such event, the time of such period shall be extended to the next day which is not a Saturday, Sunday or legal holiday 13 Notices Any notice required or desired to be given to either party hereto shall be deemed to be delivered (i) on the date of delivery, if hand delivered, (11) one (1) day after sending, if sent by overnight courier, or (iii) if sent by mail, the day the same is posted in a U.S mail receptacle, postage prepaid, certified mail, return receipt requested, to the address of the applicable party set out below such party's signature hereinbelow Either party hereto may change such party's address for notice, but until written notice of such change of address is actually received by the other party, the last address of such party designated for notice shall remain such party's address for notice 14 Severability If any term or provision of this Contract is held to be illegal, invalid or unenforceable, the legality, - 5 - validity and enforceability of the remaining terms and provisions of this Contract shall not be affected thereby, and in lieu of each such illegal, invalid or unenforceable term or provision there shall be added automatically to this Contract a legal, valid and enforceable term or provision as similar as possible to the term or provision declared illegal, invalid and unenforceable 15 Waiver Either Bank or City shall have the right to waive any requirement contained in this Contract, which is intended for the waiving party's benefit, but, except as otherwise specifically provided herein, such waiver shall be effective only if in writing executed by the party for whose benefit such requirement is intended 16 Cumulative Rights and Remedies Except as specifically limited herein, no right or remedy set forth in this Contract is intended to be exclusive of any other right or remedy set forth in this Contract or by law provided, but each shall be cumulative and in addition to every other right or remedy set forth in this Contract or now or hereafter existing at law or in equity or by statute 17 Captions The captions used in connection with the articles and sections of this Contract are for convenience only and shall not be deemed to expand or limit the meaning of the language of this Contract 18 Use of Language Words of any gender used in this Contract shall be held and construed to include any other gender, and words in the singular shall be held to include the plural, unless the context otherwise requires 19 Exhibits All exhibits, attachments, annexed instruments and addenda referred to herein shall be considered a part hereof for all purposes with the same force and effect as if copied verbatim wherever reference is made to the same 20 No Representations or warranties A Except for the special warranty of title contained in the City Deed, Bank hereby acknowledges that City has not made any representations or warranties to Bank with respect to the suitability of Tract B for any intended use, the condition of Tract B (including soil and sub-soil conditions), the appreciation or income potential of Tract B, the zoning of Tract B, the platting of Tract B, availability of utilities to Tract B, access to Tract B, requirements in connection with - 6 - any development of Tract B or any other matter whatsoever Bank further acknowledges and agrees that Bank has investigated all matters of concern to Bank with respect to Tract B prior to the Effective Date and that Bank is not relying on any representation or warranty from City with respect to such matters except for the special warranty of title contained in the City Deed B Except for the general warranty of title contained in the Bank Deed, City hereby acknowledges that Bank has not made any representations or warranties to City with respect to the suitability of Tract A for any intended use, the condition of Tract A (including soil and sub-soil conditions), the appreciation or income potential of Tract A, the zoning of Tract A, the platting of Tract A, availability of utilities to Tract A, access to Tract A, requirements in connection with any development of Tract A or any other matter whatsoever City further acknowledges and agrees that City has investigated all matters of concern to City with respect to Tract A prior to the Effective Date and that City is not relying on any representation or warranty from Bank with respect to such matters except for the special warranty of title contained in the Bank Deed Bank is executing this Contract in a representative capacity only, and it is hereby specifically understood and agreed that such party will not incur any personal liability for breach of warranty or of any other condition, obligation, or representation made herein whether expressly or by implication, and that in the event of such a breach, such party shall be liable only to the extent to which such party holds assets and properties for the specific entity on behalf of which this Contract is executed Notwithstanding the preceding sentence, Bank hereby represents unto City that Bank has the full power and authority to enter into this contract and all related instruments that may be executed and delivered as required by the Contract, including, but not limited to, the Bank Deed and an access easement agreement the Easement Agreement, and the exculpation provision of the preceding sentence shall not apply to the representation contained in this sentence 21 Entire Agreement This Contract embodies the entire agreement between Bank and City with respect to the subject matter hereof and supersedes all prior agreements whether written or oral 22 Amendment Except as otherwise specifically provided herein, this Contract may not be amended, varied or terminated except by an agreement in writing executed by both Bank and City - 7 - 23 Binding Effect. Except as otherwise provided herein, this Contract shall be binding upon and inure to the benefit of Bank and City and their respective successors and assigns 24 Effective Date The effective date of this Contract (the "Effective Date") shall be the latest date either party signs this Contract EXECUTED by Bank and City as of the Effective Date BANK: CITY: NCNB TEXAS NATIONAL BANK, TRUSTEE CITY OF DENTON By C:4/ Title By Title VO/4 . ADDRESS FOR NOTICE Howard A Compton, Jr NCNB Texas National Bank 901 Main Street 20th Floor P O Box 831500 Dallas County Dallas, Texas 75283-1500 Date of Execution by Bank 129153/D Municipal Building 215 East McKinney Denton County Denton, Texas 76201 Date of Execution by City Aa&L /4. /99/ - 8 - ADDRESS FOR NOTICE Property Description All that certain lot, tract, or parcel of land situated in Denton County, Texas, in the C Poulallier Survey, A-1006 and being part of a tract shown by deed to First National Bank, Trustee, recorded in Volume 718, Page 57, Deed Records of Denton County, Texas, and being more particularly described as follows BEGINNING at the southeast corner of said First National Bank tract, THENCE south 88 49' 55" west with the south line of said First State Bank tract 493 17' to its southwest corner, THENCE north 1 10' 05" west a distance of 250 0 feet to a point for a corner, THENCE north 88' 491 5510 east a distance of 493 17' to a point in the westerly right-of-way line of F M 2181, THENCE south 1 10' 0511 east a distance of 250 0' to the Point of Beginning and containing 2 8304 acres of land 120768/D - 9 - All that certain lot, tract or parcel of land lying and being situated in the City and County of Denton, State of Texas, and being part of the C Poulallier Survey, Abstract No 1006 and being part of tract conveyed to the City of Denton by deed recorded in Volume 2423, Page 154, Real Property Records and also being part of two tracts conveyed to the State of Texas by deeds recorded in Volume 400, Page 341 and Volume 400, Page 334, Deed Records, Denton County, Texas and being more particularly described as follows BEGINNING at the northeast corner of the herein described tract, said point lying in the south line of F M 2181 (Teasley Lane), a public roadway with a right-of-way of 90 0 feet and the west line of Lillian Miller Parkway, a public roadway with a right-of-way of 90 0 feet, THENCE south 1 04' 17" east along the east boundary line of the herein described tract, same being the west line of F M 2181 (Teasley Lane), passing at 285 79 feet the northeast line of the old curve portion of F M 2181 (Teasley Lane) right-of-way and continuing a total distance of 575.43 feet to a point for corner, said point lying in the southwest right-of-way line of the old curve portion of F M 2181 (Teasley Lane), same being the northeast boundary line of a tract conveyed to First National Bank by deed recorded in Volume 718, Page 57, Deed Records of Denton County, Texas, said point also being the beginning of a curve to the left having a radius of 671 20 feet, a central angle of 66 33' 54" and a chord bearing and distance of north 41 001 1111 west, 736 66 feet, THENCE northeasterly along said curve and lines an arc length of 779 78 feet to a point for a corner, THENCE north 70' 12' 43" east along the south line of F M 2181 (Teasley Lane) a distance of 62 74 feet to a point for corner, - 10 - THENCE south 89 44' 3711 east continuing along the south line of F M 2181 (Teasley Lane) passing at 126 36 feet the northeast line of the old curve portion of F M 2181 (Teasley Lane) right-of-way and continuing a total distance of 413 54 feet to the place of beginning and containing 1 962 acres of land, more or less 120768/D - 11 - r f ~'F3i; tq8 , U TO HAVE AND TO HOLD unto the said City of Denton, Texas as aforesaid for the purposes aforesaid the premises above described Witness hand , this the /0 day of /1117 , A D 1991 TEM-KIL COMPANY, INCORPORATED BY ~ r, d P CORPORATION ACKNOWLEDGMENT THE STATE OF TEXAS § COUNTY OF § BEFORE ME, the undersigned authority, on t is day p onally appear known to me to be the person and officer whose name is subscribed to the foregoing, instrument, nd acknowledged to me that the same was the act of the said kz=~-.t5~.G ) a corporation, and that he executed the same as the act if such corporation for the purposes and consideration therein expressed, and in the capacity therein stated GIVEN UNDER MY HAND AND SEAL OF OFFICE, This /aaG day of ) A D 1991 (L.S ) za o ary u ic, in an or e e of exas My Commission Expires 0955E/28 4.0 O €y~ ~o ~~i i ! ~TiyT IW z° ?G cn CD r ^ } Cl V Co O lb tlp~ T Z G > 1 - faC LEI J r 1°9 1~6 ~ 1 O rN 0 5 ~ m m y u>( yQ oW o 3 VNO Z 1 Z X a: .P- ~ L f, 1 4 ~S \s~~YYlV( ~r/ ~MY Comm txo ` 3 n r [ PROPERTY RECORDS EASLMENT 7 6 -n0 8 9 9 THE STATE OF TEXAS, § § KNOW ALL MEN BY THESE PRESENTS COUNTY OF DENTON § 22905 THAT Tem-Kil Company, Incorporated of Denton County, Texas, in consideration of the sum of Ten dollars and no/100 ($10 00) and other good and valuable consideration in hand paid by the City of Denton, Texas receipt of which is hereby acknowledged, do 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 it, situated in Denton County, Texas in the S L Hirams Survey, Abstract No 616 ALL that certain lot, tract or parcel of land lying and being situated in the City and County of Denton, Texas and being part of Lot 3R, Blockll, Teasley Plaza Addition an addition to the City of Denton, Texas, as shown by plat thereof filed in Cabinet H, Page 277 of the Plat Records of Denton County, Texas and also being part of a tract of land as conveyed from Commonwealth Savings to Tem-Kil Company, Incorporated by deed dated January 3, 1991, and recorded to Volume 2909, Page 607 of the Real Property Records of Denton County, Texas and more particularly described as follows BEING a tract of land 226 54 feet in length and 16 feet in width lying south of and adjacent to the north property line of said tract and containing 3629 69 square feet of land And it is further agreed that the said 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 constructing, reconstructing, installing, repairing, and perpetually maintaining public utilities 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 for the purpose of making additions to, improvements on and repairs to the said public facilities or any part thereof REAL PROPERTY RECORDS v. 2717,8 X0903 THE STATE OF V I (C4 § COUNTY OF P-©(Ar?Q 2 § 2290' BI4FORE ME, the undersigned authority, on this day personally appeared Elizabeth A Thomas, Who, being duly sworn, deposes and says THAT the Investment Advisory Account Agreement ("the Investment Advisory Account Agreement") dated January 10, 1972, between me as Owner and NCNB Texas National Bank (formerly First National Bank in Dallas) as Agent, ("NCNB") is in full force and effect on the date hereof and has not been amended, altered, or revoked by me at any time, THAT the real property in Denton County, Texas, which is held in the name of NCNB Texas national Bank (formerly known as First National Bank in Dallas), Trustee, ("the Property") and which is the property to be exchanged for other real property located in Denton County, Texas, which is owned by the City of Denton pursuant to that certain Exchange Contract dated /n aw,b, 19 , 1991, ("the Exchange Contract") is real property which is subject to the Investment Advisory Account Agreement, THAT I am aware of the terms of the Exchange Contract and that I fully consent to and authorize NCNB to exchange the Property pursuant to the terms of the Exchange Contract FURTHER Affiant sayeth not A d Eh eth A Thomas SUBSCRIBED AND SWORN TO BEFORE ME by Elizabeth A Thomas, this day of ma( 7, , 1991, to certify which, witness my hand and seal of Fe1~ n d ~ cD ur ~r Y o s r Notary Public, State of V, r~, nj" ~ w T - 33 ~ O Ch r C 2 S r4 f ll~ g~ F 0 ~~51' JU`eY7 C~( N o z ' r , Typed or Printed Name of Notary °•t, , ~a~' ~ ° . dz m o do " to ~ a W,r 1 Ruaust t4,13~3 My Commission Expires Z Q 122943/122955 42918 X0904 J~~~~aQ coy lag n z R~a~rs' 3g< v~ Y I I Y IV C 0 ~ ran ~ eta ~J t REAL PROPERTY RECORDS ZM 9 0 5 THAT the Trust Agreement ("the Trust Agreement") dated February 5, 198(j between me as Grantor and NCNB Texas National Bank (formerly First National Bank in Dallas) as Trustee, ("NCNB") is in full force and effect on the date hereof and has not been amended, altered, or revoked by me at any time, THAT the real property in Denton County, Texas, which is held in the name of NCNB Texas national Bank (formerly known as First National Bank in Dallas), Trustee, ("the Property") and which is the property to be exchanged for other real property located in Denton County, Texas, which is owned by the City of Denton pursuant to that certain Exchange Contract dated /'lav-ek 19 1991, ("the Exchange Contract") is real property which is subject to the Trust Agreement, THAT I am aware of the terms of the Exchange Contract and that I fully consent to and authorize NCNB to exchange the Property pursuant to the terms of the Exchange Contract FURTHER Affiant sayeth not THE STATE OF 'F(2X tS § COUNTY OF D g l[ CIS § 22908 ~ BEFORE ME, the undersigned authority, on this day personally appeared Caro Alexande> Stalcup, who, being duly sworn, deposes and says Caro Alexander Stalcup 0 sv U p C P ccY Q C o W o «N c u U N ~ a z M C C ~ v N Q y T _ d 1 z e u t dd z~ s SUBSCRIBED AND SWORN TO BEFORE ME by Caro Alexander Stalcup, this I I day of Marc h , 1991, to certify which, witness my hand and seal of office 122943/]229SS 282]8 w~ t # yf I l; 1 4'w - ' vw Notary Public, State of 7( zK" Karen S4e PQ% Typed or Printed Name of N tary My Commission Expires R S--Rf n0, a ~ _ to " 97 906 f~~~ Jt ~U X n E~~i s t n~ a o~ I s ig I~ 1 i m v a -C ms xx Crn pN z 0 7 t~ ~ ~ LJ ra CJ voL2978 PG0909 r MEAL PROPERTY RECORDS !0NERAL WARRANTY DEED r STATE OF TEXAS $w COUNTY OF DENTON § Grantee's Address Municipal Building 215 East McKinney Denton County Denton, Texas 76201 Attn Roger Wilkinson 22910 KNOW ALL MEN BY THESE PRESENTS THAT, NCNB TEXAS NATIONAL BANK, (ASSIGNEE OF THE FEDERAL DEPOSIT INSURANCE CORPORATION, AS RECEIVER OF FIRST REPUBLICBANK DALLAS, N A , SUCCESSOR BY MERGER TO REPUBLICBANK DALLAS, N A , FORMERLY KNOWN AS REPUBLIC BANK OF DALLAS), TRUSTEE, ("Grantor"), for and in consideration of the sum of Ten and No/100 Dollars ($10 00) and other good and valuable considertions to Grantor in hand paid by City of Denton, a municipal corporation and political subdivision of the State of Texas ("Grantee"), the receipt and sufficiency of which is hereby acknowledged and confessed, has GRANTED, SOLD AND CONVEYED, and by these presents does hereby GRANT, SELL AND CONVEY unto Grantee, all of Grantor's right, title and interest in and to that certain tract of real property situated in Denton County, Texas, being more particularly described on Exhibit A attached hereto and incorporated herein by reference for all purposes, together with all and singular the improvements thereon and all rights and appurtenances thereto in anywise belonging, being all of Grantor's property, as of the date hereof (collectively, the "Property") TO HAVE AND TO HOLD the Property, together with all and singular the rights and appurtenances thereto in anywise belonging unto Grantee, its successors, legal representatives and assigns forever, and Grantor does hereby bind itself, its successors, legal representatives and assigns, to WARRANT AND FOREVER DEFEND all and singular the Property unto Grantee, its successors, legal representatives and assigns, against every person whomsoever lawfully claiming or to claim the same or any part thereof Grantor is executing this general warranty deed in a representative capacity only, and it is hereby specifically understood and agreed that such party will not incur any personal liability for breach of warranty or of any other condition, obligation, or representation made herein whether expressly or by implication, and that in the event of such a breach, such party shall be liable only to the extent to which such party holds assets VLZ97S n0910 and properties for the specific entity on behalf of which this general warranty deed is executed Notwithstanding the preceding sentence, Grantor hereby represents to Grantee that Grantor has the full power and authority to execute this Deed, and the exculpation provision of the preceding sentence shall not apply to the representation contained in this sentence This conveyance is further made and accepted subject to the matters set forth on Exhibit B attached hereto and incorporated herein by reference for all purposes insofar and only insofar as the same are and remain effective and affect the Property or any portion thereof EXECUTED on the date of Grantor's acknowledgment, but dated and effective for all purposes as of the C7A day of 1991 GRANTOR NCNB TEXAS NATIONAL BANK, TRUSTEE By 04 Wj Name HotiAtto rN P Title V/G1Z PR6s10Gc By 6e r Name 001-E7-TE /7W~Cj4,icK Title Vices 7-RTs- (3o A/T - 2 - uat 2'978 9 I I STATE OF TEXAS § § COUNTY OF § This instrument was acknowledged before me, a Notary Public in and for the ,,S//L[tate of ~+/xas, on this day f , 1991, by '7VO iud C:OYx,D7'~D'YC_ r of NCNB TEXAS NATIONAL BANK, on behalf of G oic My commission expires STATE OF TEXAS $ § COUNTY OF I& .6~a_ § . Z7 tart' Pub1ic~~ or the State of Texas Printed Name of Notary emy LAURA A DOOLEY Notary Public STATE OF TEXAS Comm Exp JAN 11 1995 1 ~-l This instrument was acknowledged b fore me, a otary Public in and for the~7State of Te as, on this day f 1991, by 0 ~V A_ , da of NCNB TEXAS NATIONAL BANK, on behalf of p,11 A,s1r~.,~ My commission expires 2958 1940 CLMs138181-D (--~4aiii3 0. _a " / tary Public in an or the State of Texas Printed Name of Notary (&my LAUA A DOOLEY Notary Public STATE OF TEXAS Comm Exp JAN 11 1995 - 3 - voL29IT8 0912 Exhibit A Property Description All that certain lot, tract, or parcel of land situated in Denton County, Texas, in the C Poulallier Survey, A-1006 and being part of a tract shown by deed to First National Bank, Trustee, recorded in Volume 718, Page 57, Deed Records of Denton County, Texas, and being more particularly described as follows BEGINNING at the southeast corner of said First National Bank tract, THENCE south 88 49' 55" west with the south line of said First State Bank tract 493 17' to its southwest corner, THENCE north 1 10' 05" west a distance of 250 0 feet to a point for a corner, THENCE north 88 49' 55" east a distance of 493 17' to a point in the westerly right-of-way line of F M 2181, THENCE south 1 10' 05" east a distance of 250 0' to the Point of Beginning and containing 2 8304 acres of land 138131/D - 4 - WL?M J13 Exhibit H ~t Permitted Exceptions c 1 Any and all Easements of record in the Denton County Deed Records 138131/D - 5 - ram- 914 a n Y ret ~o U ~ 1 h ~ .P Q7 rl ~ .ice ? ~ m x REAL PROPERTY RECORDS EASEMENT A S { 9 1 5 THE STATE OF TEXAS, § § KNOW ALL MEN BY THESE PRESENTS COUNTY OF DENTON § 22911 THAT NCNB Texas National Ba4 Trustee (formerly First National Bank in Dallas) of Denton County, Texas, in consideration of the sum of Ten dollars and no/100 ($10 00) and other good and valuable consideration in hand paid by the City of Denton, Texas receipt of which is hereby acknowledged, do 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 it, situated in Denton County, Texas in the C Poulallier Survey, Abstract No 1006 TRACT I ALL thaticertain lot, tract, or parcel of land situated in Denton County, Texas in the C Poulallier Survey A-1006 and being all of a tract shown by deed to FIRST NATIONAL BANK, TRUSTEE recorded in Volume 718, Page 57 Deed Records of Denton County Texas and part of a tract deeded to the State of Texas recorded in Volume 400, Page 334 Deed Records and also part of a tract shown by deed to the City of Denton, Texas recorded in Volume 2423, Page 154 Real Property Records and being more particularly described as follows BEGINNING at the northwest corner of said First National Bank tract and in the existing southerly right-of-way line of F hi 2181 and in a curve to the right whose radius is 671 2', and central angle is 40 55' 27", THENCE easterly along said curve and right-of-way an arc distance of 57 68' to a point, THENCE north 700 14' 16" east 9 27' to a point in a curve to the right, whose radius is 676 2 ft and central angle is 00 36' 57", THENCE with said curve a distance of 7 27 ft to a point for corner, THENCE south 890 43' 04" east a distance of 446 23 ft to point for a corner, THENCE south 10 04' 17" east a distance of 271 46 fit to point for a corner, THENCE south 10 46' 45" east a distance of 36b 22 fit to point for corner, THENCE south 10 10' 05" east a distance of 43 21 ft to a point for corner, THENCE north 880 49' 55" east a distance of 2U U it to a point for corner, THENCE north 10 10' 06" west a distance of 43 21 ft to a point for corner, THENCE north 10 46' 45" west a distance of 366 43 ft to a point for corner, THENCE north 10 U4' 17" west a distance of 290 74 ft to a point for corner, THENCE north 890 43' 04" west a distance of 422 6 ft to a point for corner, THENCE south 7U0 14' 16" west a distance of 53 47 ft to the Place of Beginning and containing 0 519 acres of land TRACT II; ALL that certain lot, tract, or parcel of land situated in Denton County, Texas in the C Poulallier Survey A-10U6 and being all of a tract shown by deed to FIRST NATIONAL BANK, TRUSTEE recorded in Volume 718, Page 57 Deed Records of Denton County Texas and part of a tract deeded to the State of Texas recorded in Volume 400, Page 334 Deed Records and also part of d tract shown by deed to the City of Denton, Texas recorded in Volume 2423, Page 154 Real Property Records and being more particularly described as follows ; L O Bt4109 16 COMMENCING at the northwest corner of said First National Bank tract and in the existing southerly right-of-way line of F M 2181 and in a curve to the right whose radius is 671 2', and central angle is 40 55' 27", THENCE easterly along said curve and right-of-way an arc distance of 57 68' to the Point of Beginning, THENCE north 7U0 14' 16" east a distance of 9 27 ft to a point for corner in a curve to the right whose radius is 676 2 ft and central angle is 520 29' 07" THENCE with said curve a distance of 619 43 ft to a point for corner, THENCE south 10 46' 45" east a distance of 13 36 ft to a point for corner in a curve to the left whose radius is 671 20 ft and central angle is 540 12' 08" THENCE with said curve a distance of 611 55 ft to the Point of Beginning and containing U 072 acres of land And it is further agreed that the said 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 constructing, reconstructing, installing, repairing, and perpetually maintaining public utilities in, along, premises, with the right and privilege at all times of or its agents, employees, workmen and representatives and regress in, along upon and across said premises fi additions to, improvements on and repairs to the said part thereof upon and across said the grantee herein, his having ingress, egress, >r the purpose of making public utilities or any TO HAVE AND TO HULU unto the said City of Denton, Texas as aforesaid for the purposes aforesaid the premises above described Witness our hands , this the day of A D 1991 CORPORATION ACKNOWLEDGMENT THE STATE OF TEXAS, 5 COUNTY OF~~ 9 BEFORE ME, the undersigned authority, on this d personally appeared ~ 1~I-1 71 known to me to be the person and officer whose name is subscribed to the foregoing instrument, and acknowledged to me that the same was the act of the said a corporation, and that he executed the same as the act if such corporation for the purposes and consideration therein expressed, and in the capacity therein stated NCNB T s tional Bank Trustee BY 6~ ~.ti BY6Ya'£ GIVEN UNDER MY HAND ANU SEAL OF OFFICE, This /df day of,,?77?e A D 1991 fftA LINE BARGEE ~TARYPUBLIC otar u icc, in and t~ ante of Texas TATWQF,TEXAS My Commission Expires y Comm Ezp 0&01 95 CORPORATION ACKNOWLEDGMENT THE STATE OF XAS § COUNTY BEFORE ME, the undersigned aut rity, on this personally appeared(-,D, ~ known to me to be the person and officer whose name is subscribed to the foregoing instrument, and acknowledged to me that the same was the act of the said a corporation, and that he executed the same as the act if such corporation for the purposes and consideration therein expressed, and in the capacity therein stated GIVEN UNDER MY HAND AND SEAL OF OFFICE, This/ay of a~ A D 1991 (L S ) A-- otar u ic, in an or the State of Texas My Commission Expires 0955E/17 ALLINE BARBEE NOTARY PUBLIC STATE OF TEXAS , My Comm Exp 05-01 95 0 RE 11101 TO' r4itr of 04 00000 Denton 215 E McKinney Denton TX 762ol LITI11k Roger N Wilkinson filpht-of-Way Agent vK797# n0918 'N & k 0A ~c 38 S S ds* co ICY v c ~ 1A ~t r-.~ .,K K.7 C. ) .sib n r'1 . F\> iii "d 7 L} o a ~ r m x CABLE JWAL TELEX 73 385 TELECOPIER (2141 963 5822 WRITER 5 DIRECT DIAL NO (214) 953-5981 JACKSON & WALKER ATTORNEYS AND COUNSELORS 901 MAIN STREET SUITE 6000 DALLAS TEXAS 75202 3797 (214) 9536000 October 3, 1991 OTHER LOCATIONS HOUSTON FORT WORTH NEW ORLEANS r--r - 7 «9i Mr Paul Williamson City of Denton Municipal Building 215 East McKinney Denton, Texas 76201 Re Exchange of Property located in Denton County, Texas, between City of Denton (the "City") and NCNB Texas National Bank, Trustee ("Bank") Dear Mr Williamson As per your request, enclosed with respect to the above-captioned matter is a copy of Special Warranty Deed, dated as of May 9, 1991, from the City to Bank, recorded in Volume 2978, page OQ380 of the Real Property Records of Denton County, Texas If you have any questions, please call me Ver truly yours, C9fi/!lQ orma W Bledsoe Legal Assistant NWB/n Enclosure 61948/D-8 849107 mg 01297 3 PG]3(O Grantee's Address 901 Main Street 20th Floor P 0 Box 831500 Dallas County Dallas, Texas 75283-1500 REAL PROPERTY RECORDS SPECIAL WARRANTY DEED 22770 STATE OF TEXAS S S COUNTY OF DENTON S KNOW ALL MEN BY THESE PRESENTS THAT, CITY OF DENTON, a municipal corporation and political subdivision of the State of Texas ("Grantor"), for and in consideration of the sum of Ten and N01100 Dollars ($10 00) and other good and valuable considerations to Grantor in hand paid by NCNB Texas National Bank, (Assignee of the Federal Deposit Insurance Corporation, as receiver of First RepublicBank Dallas, N A , successor by merger to RepublicBank Dallas, N A , formerly known as Republic Bank of Dallas), Trustee, ("Grantee"), the receipt and sufficiency of which is hereby acknowledged and confessed, has GRANTED, SOLD AND CONVEYED, and by these presents does hereby GRANT, SELL AND CONVEY unto Grantee, all of Grantor's right, title and interest in and to that certain tract of real property situated in Denton County, Texas, being more particularly described on Exhibit A attached hereto and incorporated herein by reference for all purposes, together with all and singular the improvements thereon and all rights and appurtenances thereto in anywise belonging, being all of Grantor's property, as of the date hereof (collectively, the "Property") TO HAVE AND TO HOLD the Property, together with all and singular the rights and appurtenances thereto in anywise belonging unto Grantee, its successors, legal representatives and assigns forever; and Grantor dodo hereby bind itself, its successors, legal representatives and assigns, to WARRANT AND FOREVER DEFEND all and singular the Property unto Grantee, its successors, legal representatives 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 This conveyance is further made and accepted subject to the matters set forth on Exhibit B attached hereto and incorporated herein by reference for all purposes insofar and only insofar as the some are and remain effective and affect the Property or any portion thereof H297" PG~10CI EXECUTED on the date of Grantor's acknowledgment, but dated and effective for all purposes as of the day of 1991 GRANTOR STATE OF TEXAS S S COUNTY OF - S CITY OF DENTON By Ti This instrument was acknowledged before me, a Notary Public in and for the State of Taxes, on this IEA day of , 1991, by f. ( h r r , on behalf 'e~Mr ELMOHEooTTH~H,,JMUWAS U ' • Atri►~Arep°A0w►e v t r No ary P bl c in an for th er e 1 &4 of My OMM 5*MWis.IM State of Texas My commission expires. `/2 1207e1/D Printed Name of Notary - 2 - i0L2978 PG03?-/ All that certain lot, tract or parcel of land lying and being situated in the City and County of Denton, State of Texas, and being part of the C Poulallier Survey, Abstract No 1006 and being part of tract conveyed to the City of Denton by deed recorded in Volume 2423, Page 154, Real Property Records and also being part of two tracts conveyed to the State of Texas by deeds recorded in Volume 400, Page 341 and Volume 400, Page 334, Deed Records, Denton County, Texas and being more particularly described as follows BEGINNING at the northeast corner of the herein described tract, said point lying in the south line of F M 2181 (Teasley Lane), a public roadway with a right-of-way of 90 0 feet and the west line of Lillian Miller Parkway, a public roadway with a right-of-way of 90 0 feet, THENCE south 1 04' 17" east along the east boundary line of the herein described tract, same being the west line of F M. 2181 (Teasley Lane), passing at 285 79 feet the northeast line of the old curve portion of F M 2181 (Teasley Lane) right-of-way and continuing a total distance of 575 43 feet to a point for corner, said point lying in the southwest right-of-way line of the old curve portion of F M 2181 (Teasley Lane), same being the northeast boundary line of a tract conveyed to First National Bank by deed recorded in Volume 718, Page 57, Deed Records of Denton County, Texas, said point also being the beginning of a curve to the left having a radius of 671 20 Pest, a central angle of 66 33' 54" and a chord bearing and distance of north 41 00' 1111 west, 736 66 feet; THENCE northeasterly along said curve and lines an arc length of 779.78 feet to a point for a corner, THENCX north 70' 12' 4311 east along the south line of F M. 2181 (Teasley Lane) a distance of 62 74 feet to a point for corner, - 3 - ',oL2979 PG99g3 THF,NCE south 89 44' 3711 east continuing along the south line of F M. 2181 (Teasley Lane) passing at 126 36 feet the northeast line of the old curve portion of F M 2181 (Teasley -Lane) right-of-way and continuing a total distance of 413 54 feet to the place of beginning and containing 1 962 acres of land, more or less 12o781/D - 4 - 'i'OL2918 PG03t)14 Exhibit 9 1 Taxes for the year 1991 and subsequent years, not yet due and payable, and subsequent assessments for prior years due to change in land usage or ownership 2 Visible and apparent easements on or across the property herein described 3 Any portion of the property herein described within the limits and/or boundary of any public or, private roadway and/or highway 4 Right of Way easement to Texas Power & Light Company dated January 26, 1952 recorded in Volume 378, Page 30, Deed Records of Denton County, Texas 5 Right of Way easement to City of Denton dated May 18, 1963, recorded in Volume 498, Page 118, Deed Records of Denton, Texas 6 Right of Way easement of Texas Power & Light Company dated May 9, 1963 and recorded in Volume 496, Page 136, Deed Records of Denton County, Texas 7 Right of Way easement to Texas Power & Light Company dated April 28, 1964, recorded in Volume 510, page 358, Denton County Deed Records 8 Right of Way easement to City of Denton dated October 12, 1971, recorded in Volume 631, Page 519, Denton County Deed Records 9 Right of Way Easement to the City of Denton dated October 11, 1978, recorded in Volume 928, page 602, Denton County Deed Records ! REAL PROPERTY RECORDS CC) CD CC7 m W.. STATE OF TEXAS S S COUNTYiOF DENTON S EASEMENT AGREEMENT t%C498 r Cn CD C'') C= THIS EASEMENT AGREEMENT (hereinafter referred to as this "Agreement"), made the L ?'IA- of , 1991, by and between NCNB TEXAS NATIO AL BANK (ASSI E OF THE FEDERAL DEPOSIT INSURANCE CORPORATION, AS RECEIVER OF FIRST REPUBLICBANK DALLAS, N A , ISUCCESSOR BY MERGER TO REPUBLICBANK DALLAS, N A , FORMERLY KNOWN AS REPUBLIC BANK OF DALLAS), TRUSTEE, (hereinafter referred to as "Bank"), and the CITY OF DENTON, TEXAS, a municipal corporation of the State of Texas (hereinafter referred to as "City") WITNESSETH, THAT WHEREAS, Bank has this day conveyed to City all of that land situated in Denton County, Texas, which is described in Exhibit A attached hereto and incorporated herein for all purposes (hereinafter referred to as "Tract A"), and WHEREAS, Bank is the owner of a certain parcel of land lying adjacent to Tract A (the "Adjacent Tract"), and WHEREAS, City desires that Bank convey to City a perpetual and non-exclusive easement benefiting Tract A, in, over, across and through a portion of the Adjacent Tract, to provide for joint drivew~y access so that City has adequate vehicular access to any improv ments it may construct on Tract A, and WHEREAS, Bank is willing to grant such easement upon the terms and subject to the conditions which are hereinafter set forth, NOW, THEREFORE, FOR AND IN CONSIDERATION of the mutual entry into this Agreement by the parties hereto, and in consideration of the payment of One Dollar ($1 00), and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged by each undersigned party, the parties agree as follows: 1. Bank hereby grants and conveys to City and its respective successors and assigns a perpetual and non-exclusive easement (hereinafter referred to as the "Easement") in, under, upon, over and through all of that portion of the Adjacent Tract, which is described in Exhibit B attached hereto and incorporated herein for all purposes (hereinafter referred to as the "Easement Area"), for vehicular access to any improvements City may construct upon Tract A 2 Bank hereby reserves the right to itself, its successors, heirs, legal representatives, assigns, lessees, sub-lessees and VOL3097 n0085 licensees the use and enjoyment of all or any portion of the Easement Area 3 Bank grants the Easement on the condition that city will construct the east 250 feet (more or less) of the access drive (the "Access Drive") on the Easement at the time it constructs a new fire station on Tract A City will construct the Access Drive on the west 250 feet (more or less) at the time it expands the proposed library to be constructed on Tract A to the ultimate 30,000 square feet floor area If Bank, its successor, heir, legal representative, assign, lessee, sub-leasee or licensee obtains a building permit prior to the ultimate library expansion, Bank, its successor, heir, legal representative, assign, lessee or sub-leasee will construct the remainder of the Access Drive If Bank does construct the west 250 feet of the Access Drive, then no reimbursement for cost of construction of the Access Drive will be due City by Bank If so, no reimbursement will occur 4 Prior to commencement of construction of the Access Drive, City shall provide Bank with an initial cost estimate of the construction hereof If City constructs the entire length of the Access Drive, then Bank, its successors, heirs, legal representative assigns, lessees or sub-leasees upon obtaining a building permit to commence construction of improvement on any portion of Bank's tract, will pay to City one-half (h,) of the actual cost of constructing the Access Drive, not to exceed one- half (k) the initial cost estimate provided to Bank by City 5 The Access Drive must be constructed so as to comply with the then existing minimum standards for construction for parking lots as established by Appendix A-5, Division III of Subdivision Land Use Regulations of City of Denton 6 Bank and City will each be responsible for one-half (h) of all costs of repairing and maintaining the Easement If either party desires for repairs to be made, it shall so notify the other party in writing as to the nature of repairs to be made, and City will promptly submit to Bank a cost estimate for such repairs if Bank is not satisfied with such cost estimate it shall so notify City and deliver to City a cost estimate for such repairs from a reputable third party contractor City shall thereupon undertake such repairs for a cost equal to the average of the two estimates If Bank does not respond to City's cost estimate within twenty (20) days after receipt thereof, then city's cost estimate shall be deemed acceptable to Bank and City will promptly undertake such repairs at such cost 7 Bank is executing this Agreement in a representative capacity only, and it is hereby specifically understood and agreed -2- kjo that $ank will not incur any personal liability for breach of co warranty or of any other condition, obligation, or representation o made herein whether expressly or by implication, and that in the Mc event of such a breach, Bank shall be liable only to the extent to 26 which Bank holds assets and properties for the specific entity on r, behalf of which this Agreement is executed Notwithstanding the M preceding sentence, Bank hereby represents unto City that Bank has C:) the full1 power and authority to enter into this Contract and all t,) instrunenta that may be executed and delivered as required by the Contract, including, but not limited to, the Bank Deed and the Easement Agreement, and the exculpation provision of the preceding sentence shall not apply to the representation contained in this sentence AS WITNESS WHEREOF, the parties hereto have caused this Easement Agreement to be duly executed by their respective authorized officers as of the day and year first above written BANK NCNB TEXAS NATIONAL BANK, TRUSTEE By '4~Lj a:!!~ Title lc~a GT BY aile2u e-dr/ Title, StOe.Ui CITY THE CITY OF DENTON, TEXAS -3- STATE OF TEXAS § S COUNTY OF DALLAS § 700097 P60007 This instrument was acknowledged before As on this the day f , 1991, by / A3 A. ~e »~o7 - of NCNB Texas National Bank, Trustee, a Rational ba ing association, on behalf of said association MMAry Public, State o exas My Commission Expires Printed Name of Notary S EY AS 7995 STATE OF TEXAS § COUNTY OF DALLAS This instrument was ac knowled d before me on this the day of , 1991, by/n7`~a Q d~ 1 of NCNB Texas Nat onal Bank, Trustee, a Rational banking association, on behalf of said association a i ---Notary Public, Sta of Texas my commission Expires Printed Name of Notary LAURA DOOLEY No tary PU E STATE OF TEXAS (SMY Comm UP JAN t 1 995 -4- AMU tGO088 STATE OF TEXAS $ COUNTY OF DENTON $ This instrument was acknowled ed before me on this the 9.~ day of , 1991, by oh neasileA err i , of the City of Denton, Texas as municipal rernerar~ne ~.+ehaif of said corporation +o.~,,ur Nr~,. OLQABETH J WIWAMS `F P~No + • 6TATE OF MW 0=M Enp MY 15, 1M My commission Expires ota Publ c tate of Texas F~ i7A q 7-- -T ~y /Ll /RMS, Printed Name of Notary 129145/D -5- Sghibit A VOL 3 0 9 7 n0 0 8 9 Property Description All that certain lot, tract, or parcel of land situated in Denton County, Texas, in the C Poulallier Survey, A-1006 and being part of a tract shown by deed to First National Bank, Trustee, recorded in Volume 718, Page 57, Deed Records of Denton County, Texas, and being more particularly described as follows BEGINNING at the southeast corner of said First National Bank tract, THENCE south 88 49' 55" west with the south line of said First State Bank tract 493 17' to its southwest corner, THENCE north 1 10' 05" west a distance of 250 0 feet to a point for a corner; THENCE north 88 49' 55" east a distance of 493 171 to a point in the westerly right-of-way line of F M 2181, THENCE south 1 10' 0511 east a distance of 250 01 to the Point of Beginning and containing 2 8304 acres of land 129145(A)/D '100093 r 009"Q -09 JJ , EXHIBIT "B" x+11 hat certain lot, tract, or parcel of land situated in ent q County, Texas in the C Poulallier Survey A-1006 and r b in :all of a tract shown by deed to FIRST NATIONAL BANK, 4US7$'E recorded in Volume 718, Page 57 Deed Records of Denton Mun` Texas and part of a tract deeded to the State of Texas I did in Volume 400, Page 334 Deed Records and also part of a trams shown by deed to the City of Denton, Texas recorded in Volume 24'E3, Page 154 Real Property Records and being more partich arly described as follows COMMENCING at the northwest corner of said First National Bank tract and in the existing southerly right-of-way line of F M 2181, THENCE south 10 10' 05" east a distance of 334 0' to a point for a corner, THENCE south 240 23' 00" east a distance of 123 63' to a point for a corner, THENCE south 10 10' 05" east a distance of 224 27' to the Point of Beginning, THENCE north 880 49' 55" east a distance of 220 0' to a point for a corner, THENCE north 10 10' 05" west a distance of 10 0' to a point for a corner, THENCE north 880 49' 55" east a distance of 273 17' to a point on the west right-of-way of Lillian Miller Parkway, THENCE south 10 10' 05" east with the west right-of-way of Lillian Miller Parkway a distance of 40 0' to a point for a corner, THENCE south 880 49' 55" west a distance of 493 17' to a point for a corner in the most easterly west line of said "First National Bank" tract to a poiint for a corner, THENCE north 10 10' 05" west a distance of 30 0' to the Point of Beginning and containing 0 402 acres of land 0707d/70 RETURN Ta City of Denton 215 E McKinney Denton TX 76201 Roger K Wllkinson VOL 3 0 9 7 P60 0 91 9 are P", xo W Cj Ali z t Rrj w N W N 9 co coo R2 J fill