2012-187FILE REFERENCE FORM 2012-187
X Additional File Exists
Additional File Contains Records Not Public, According to the Public Records
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Other
FILE(S) Date Initials
First Amendment to Contract for Sale of Real Estate
[ori inal attached to ordinance] 09/11/12 JR
Amended b Resolution No. R2015-031 09/18/12 JR
s:\legallour documentslordinances1121denton county-mckinney street prop ord.doc
ORDINANCE NO. 2012-187
AN ORDINANCE OF THE CITY OF DENTON, TEXAS, AUTHORIZING THE
EXECUTION OF A CONTRACT FOR SALE OF REAL ESTATE ("CONTRACT"), BY AND
BETWEEN THE CITY OF DENTON, TEXAS ("CITY") AND DENTON COUNTY, TEXAS
("COUNTY"), CONTEMPLATING THE PURCHASE BY THE CITY FROM THE COUNTY
OF A 2.0 ACRE TRACT, MORE OR LESS, LOCATED IN THE HIRAM SISCO SURVEY,
ABSTRACT NO. 1184, DENTON COUNTY, TEXAS, AND LOCATED GENERALLY AT
THE SOUTHEAST CORNER OF THE 1NTERSECTION OF EAST MCKINNEY STREET
AND OAKLAND STREET, AS MORE PARTICULARLY DESCRIBED THEREIN, FOR
THE PURCHASE PRICE OF SEVEN HUNDRED SEVENTY NINE THOUSAND EIGHT
HUNDRED NINETY FIVE AND NO/100 DOLLARS ($779,895.00); AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the City Council fmds that the acquisition of the 2.0 acre tract referenced
above is in the best interest of the citizens of the City of Denton; NOW, THEREFORE,
THE CITY COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. The City Manager, or his designee, is hereby authorized to (a) execute (i) the
Contract, between the City of Denton, Texas, as Purchaser and Denton County, Texas, as Seller, in
the form attached hereto and made a part hereof; and (ii) any other documents necessary for closing
of the transaction contemplated by the Contract; and (b) amend or modify the terms of the Contract.
SECTION 2. The City Manager is hereby authorized to make expenditures as set forth in
the Contract.
SECTION 3. The recitals provided in this ordinance, as set forth above, are expressly
adopted as findings by the City Council of the City of Denton.
SECTION 4. This ordinance shall become effective immediately upon its passage and
approval.
�
PASSED AND APPROVED this the ��— day of , 2012.
r �
MARK A. BURROUGHS,'MAYOR
ATTEST: '
JENNIFER WALTERS, CITY SECRETARY
BY:
APPROVED AS TO LEGAL FORM:
ANITA BURGESS, CITY ATTORNEY
BY: �
Page 2
CONTRACT FOR SALE OF REAL ESTATE
This Contract for S ale of Real Estate ("Contract") for real property described herein, is hereby
made by and entered in to between DENTON COLTNTY, TEXAS ("Seller") and City of Denton,
Texas -{"Piirchaser"). . .
ARTTCLE I.
THE PROPERTY
Subject to the terms and provisions of this Contract, Seller agrees to sell and convey to
Purchaser, 'by Specia'1 �Warranty Deed, and Purchaser agrees to purchase from Seller that certain
parcel of real properry described below and hereinafter referred to as the "subject property." The
subject properly is described as follows:
LEGAL DESCRIPTION: The subject is a 9,755 SF (NRA,) commercial facility and site improvements
on 2.00 acres (87,120 SF) of land. The property is located at the southeast corner of McKi.nney Street and
Oak Street. The subject property is legally described.as 2.00 Acres in the H. Cisco Survey, Abstract No.
11840, City of Denton, Denton County, Texas, and being further described on Exhibit "A" hereto.
This sale includes: all easements, rights of way, licenses, rights, hereditaxnents, privileges,
claims, causes of action and interests in any way affecting or serving any or all of the subject
property. Seller will execute and deliver to Purchaser, at closing of the sale or thereafter on demand,
all proper instruments for the conveyance of title.
ARTICLE II. �
PURCHASE PRICE
� It is understood and agreed by the parties that this conveyance is to be made and the purchase
price of SEVEN I�iTNDRED SEVENTY N1NE THOUSAND EIGHT HUNDRED NINETY-FIVE
AND NO/T00 DOLLARS ($779,895.00). �
The consideration is to be paid as follows: five percent (5%) of the entire purchase price in
cash, to be paid in escrow as earnest money upon execution of this contract the balance of the
purchase price to be paid at closing by Purchaser.
For the purpose of securing the performance of the Purchaser under the terms and provisions
of this Contract, Purchaser, shall submit $3 8,994.75 Earnest Money within (5) days from the date this
Contract is fully executed, to the title company, identified below, as Escrow Agent , together with a
copy of this agreement. On cornpletion of this sale, if consummated, the earnest money and all
interest accrued thereon shall be credited t�ward the purchase price and shall be paid over to S eller by
the escrow agent.
iZeal Estate�Contr�ct — 300 E. McKinney "Pag�' 1"of l'� '
�`
ARTICLE III.
TITLE, SURVEY AND TESTS
Purchaser, after sixty (60) days prior to the closing date but before thirty (30) days prior to
the closing date, shall cause to be fiu�ished to Purchaser a current commitment for owner policy of
•. title insurance issuec�'by �Capital `Ti��e�of Texas; describing th� lan�l; �tivl7ich legal description, unless
modified by the survey referred to in this contract shall be deemed incorporated into this contract, and
accompanied by copies of all recorded instruments referred to in the commitment as conditions or
exceptions to title to the Property.
With regard to the standard printed exceptions and other exceptions generally included in a
commitment, (i) fhe exception for restrictive covenants shaall be annotated either "I�Tone of Record" or
"None of Record except ...(restrictions listed), "(ii) the exception for ad valorem taxes shall reflect
only taxes for the current year and shall be annotated "not yet due and payable," (iii) there shall be no
exception for "visible and apparent easements," for "public or private roads" or the like, except if
reference is made to a specified survey and a specified unrecorded exception shown on the survey,
(iv) there shall be no exception for "rights of parties in possession" and (v) the exception for area and
boundaries shall be annotated to show that the boundary portion of the exception will be deleted at
closing.
Should the commitment show the condition of title to be objectionable, and in the event
Purchaser so objects, Seller shall promptly undertake to eliminate or modify all such objectionable
matters to the reasonable satisfaction of Purchaser. In the event Seller is unable.to do so within 10
days after receipt of written notice, this Agreement shall be null and void for all pu.rposes and all
earnest monies deposited shall be returned by the title company to Purchaser, and thereupon both
Seller and Purchaser shall be released from all obligations to each other under this contract; otherwise
the condition shall be deerned to be acceptable and any objection to the condition shall be deemed to
have been waived for all purposes.
Seller also agrees to notify Purchaser of any title encumbrances other than those contained in
the contract of sale as permitted exceptions, and to fi.unish copies of those encumbrances, whether or
not they are listed in the title commitment.
Purchaser, at Purchaser's sole cost and expense, may order and cause to be delivered to
Purchaser and the title company named above, 10 days prior to closing a current survey of the
property, staked on the ground, showing the location of all improvements, highways, streets, roads,
fences, easements, drainage ditches, rights-of-way, creeks, and water courses on or adjacent to the
property, if any, for purposes of deleting from the title policy to be issued the printed exceptions as to
discrepancies, conflicts, or boundary line encroachments. The survey shall contain the surveyor's
certification that there are no encroachments on the property and shall set forth the number of total
acres and the number of acres comprising the property, together with a metes and bounds description
of the property. The term "net acres" shall mean the nurnber of acres contained within the boundaries
of the subject property, exclusive of any land lying within easements, right-of-way, encroachments,
. �AeaL:Estater:GbnErset-300�E. Mc]{incie� •� Page��°�f'17 °
creeks, or other water courses and shall be calculated to the nearest one thousandth of an acre. The
survey report and findings of the surveyor must be acceptable to escrow agent and Purchaser and
satisfy all requirements of this contract.
ARTICLE IV.
REP�2ES�ENT�I�IONS
Seller hereby represents and warrants to Purchaser the following warranties which shall be
deemed made by Seller to Purchaser also as of the closing date:
As a material part of the consideration for the Special Warranty Deed from Seller to Purchaser
in attached Ex"Yiibit "B�" �Seller ancl Purchaser agree that�Purchaser is taking the Property "AS IS"
with any and all latent and patent defects and that there is no Warranty by S eller, that the Property has
a particular financial value or is fit for any particular purpose. Purchaser acknowledges and stipulates
that Purchaser is not relying on any representation, statement, assertion or non-assertion by Seller or
Seller's agents with respect to the Properiy's condition, but is relying solely on Purchaser's own
examination of the Property. Purchaser takes the Property with the express understanding and
stipulation that there are no express or implied warranties by Seller or the Denton County
Commissioners Court (except warranties of title in the Special Warranty Deed).
Seller, hereby specifically disclaims any warranty, guaranty or representation, oral or written,
past, present or future, of, as to, or concerning: (a) the natu.re and condition of the Property or other
items conveyed hereunder, including without limitation, the water, soil and geology, the suitability
thereof and of the Property or �other items conveyed hereunder for any and all activities and uses
which Purchaser may elect to conduct thereon, the existence of any environmental hazards or
conditions thereon (including, but not limited to, the presence of asbestos or other hazardous
materials) or compliance with applicable environmental laws, rules and regulations; (b) the nature
and extent of any right-of-way, lease possession, lien encumbrance, license, reservation, condition or
otherwise; and (c) the compliance of the Property or its operation with any laws, ordinances or
regulations of any governmental entity or body. Purchaser acknowledges that Purchaser has
inspected the Property and that Purchaser is relying solely on Purchaser's own investigation of the
same and not on any information provided or to be provided by or on behalf of Seller. Purchaser
further acknowledges that any information provided with respect to the Property or other items
conveyed hereunder was obtained from a variety of sources, and Seller: (1) has not made any
independent investigation or verification of such information; and (2) does not make any
representations as to the accuracy or completeness of such information. This conveyance is made on
an "AS IS," "WHERE IS" and "WITH ALL FAULTS" basis, and Purchaser expressly acknowledges
that, except as otherwise specified herein, Seller has made no warranty or representation, express or
implied, or arising by operation of law, including, but not limited to, any warranty of condition, title
(except as specifically set forth and limited in the Special Warranty Deed), habitability,
:merchantability or fitness for a particular purpose with respect to t�e .Property, all such
representations and warranties, as well as any implied warranties being expressly disclaimed.
By approval ofthis contract, Purchaser agrees that Seller shall not be responsible or liable to
Purchaser for any conditions affecting the Property, as Purchaser is purchasing the same "AS IS,"
•Real;�siake:Contract— 300 E. McKinney
_ � ., Page 3 0�,1,� . , . :.
"WHERE IS" and "WITH ALL FAULTS." Purchaser or anyone claiming by, through or under
Purchaser, to the extent permitted by law, hereby fully releases Seller, Seller's employees, officers,
representatives, attorneys and agents from any and all claims that Purchaser may now have or
hereafter acquire against Seller, and Seller's employees, officers, representatives, attorneys and
agents for any cost, loss, liability, damage, expense, demand, action or cause of action arising from
or relaied to�any cor��iiti-oiis=af%cting fhe°Property.'�Pu�ch�aserfi�rther acknowledges and agrees that
this release shall be given full force and effect according to each of its expressed terms and
provisions, including, but not limited to, those relating to iuiknown and unsuspected claims, damages
and causes of action. This covenant releasing Seller shall be a covenant runiung with the Property
and shall be binding upon Purchaser.
��It is unc�erstood and agreed that fhe purchase price has been adjusted by prior negotiation to
reflect that the entire subject Property is sold by Seller and purchased by Purchaser subject to, and
Seller represents and warrants to Purchaser, the foregoing;
• There are no defaults under any existing mortgages secured by the subject property and no
default shall be created because of this sale;
� There is no pending or threatened condemnation or similar proceeding or assessment
affecting the property or any part of the property, nor to the best knowledge and belief of
Seller is any such proceeding or assessment contemplated by any government authority;
• There are no parties in possession of any portion of the property as lessees, tenants at
sufferance, or trespassers;
• The property has full and free access to and from public highways, streets , or roads, and to
the best knowledge and belief of Seller there is no pending or threatened governmental
proceeding which would impair or �esult in the termination of such access;
• No work has been performed or is in progress by Seller at and no materials have been
furnished to the land or improvements or any portion of them which might give rise to
mechanic's, inaterialmen's, or other liens against the land or improvements or any portion of
them.
Purchaser, to the extent permitted by law, hereby agrees to indemnify, protect, defend, save
and hold harmless Seller, the Denton County Commissioners Court, Seller's employees, officers,
representatives, attorneys and agents from and against any and all debts, duties, obligations,
liabilities, suits, claims, demands, causes of action, damages, losses, costs and expenses (including,
without limitation, attorney's fees and expenses and court costs) in any way relating to, connected
with, or arising out of the Property or the ownership, leasing, use, operation, maintenance and
management thereof arising from and after the date of Closing, including, without limitation, the cost
of any removal of hazardous substances or contaminants from the Properly and other items conveyed
hereundex. This indemnity survives the closing of this transaction.
If prior to the closing date Seller discovers one or more of such representations to be untrue or
,I�eal�Estate��oxm•a�ct-300 E. McKinney • � Page`�4"of�7� `
inaccurate, Seller will inform Purchaser in writing of the discovery. Seller's representations shall not
survive the closing except to the extent that Seller has actual knowledge of an untruth or inaccuracy
and fails to reveal that knowledge to Purchaser prior to the closing. Notwithstanding the unmediately
preceding sentence, if within 10 days from the date this contract is fully executed Seller gives written
notice that any representation is incorrect, Seller shall not be bound by that representation, however,
within�.l0�ia�s°after'se•ll�r's �lelivery°u�noti��e�to�purchaser;'�ur�haserma�`terminate`this contractand
all earnest monies previously deposited with the title company shall be immediately returned to
Purchaser.
ARTICLE V.
CLOSING
The closing shall be held at the office of Capital Title of Texas — Jorge Urbina, 620 West
Hickory, Denton, Texas 76201 (940-565-1919) on'��€��lX����, or at such time, date, and place
as Seller and Purchaser may agree ("closing date"). 3cNovember 29 , 2012
At the closing Seller shall:
2.
1
Deliver to Purchaser a duly executed and acknowledged Special Warranty Deed, as
set forth on Exhibit "B" hereto, conveying good and marketable title in fee simple to
all of the property, free and clear of any and a111iens, encumbrances, , easements,
assessments, and restrictions, except;
(a) General real estate taxes for the year of closing and subsequent years not yet due
and payable;
(b) Any exceptions approved by Purchaser pursuant to Article III; and
(c) Any exceptions approved by Purchaser in writing.
Deliver to Purchaser possession of the property
At the closing Purchaser shall:
Obtain, at Purchaser's own expense, a Texas Owner's Title Policy issued by Capital
Title of Texas in Purchaser's favor in the full amount of the purchase price, insuring
Purchaser's fee simple title to the property subject only to those title exceptions listed
in Article III, 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:
(a) 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 .
=Real�state�Contract-300E, IvloKinney
. Page.� of`1'] _ ,
(b) The boundary and survey exceptions shall be deleted, if Purchaser elects to pay
for survey; and
(c) The exception as to restrictive covenants shall be endorsed "none of record."
2. Pay in cash the balance of the purchase price and any other costs agreed to be paid
Purchaser.
Provide to Seller a copy of any reports regarding the property which were obtained by
Purchaser.
General real estate taxes for the then current year relating the property and rents, if any, shall
be prorated as of the closing date and shall be adjusted in cash at the closing. If the closing occurs
before the tax rate is fixed for the next current year, the apportionment of taxes shall be on the basis
of the tax rate for the next preceding year applied to the latest assessed valuation. S eller shall pay for
tax certificates, preparation of the deed, one-half of the escrow fee, and the seller's own attorney's
fees. Purchaser shall pay for purchaser's owner's title policy, purchaser's survey and Purchaser's
own attorney's fees, Should there be any title curative instrument, that instrument shall be prepared
and recordecl at Purchaser's expense.
ARTICLE VI.
AUTHORITY
All parties to this Contract warrant and represent that they have the power and authoriiy to
enter into this Contract in the names, titles, and capacities stated in this Contract and on behalf of any
entities, persons, estates, or firms represented or purported to be represented by that person, and that
all formal requirernents necessary or required by any state and/or federal law in order for Seller to
enter into this Contract have been fully complied with. In addition, Seller hereby warrants and
covenants that Seller has the power and authority to sell the subject properly, and that Seller
represents all persons or parties that have any legal or beneficial interest in and to the subj ect property
or any part of the subject property.
ARTTCLE VII.
SURVIVAL OF COVENANTS/ASSIGNMENTS
Any of the representations, covenants, warranties, and agreements of the parties, as well as
any rights and benefits of the parties, that contemplate performance after the time of closing of this
Contract shall not be deemed to be merged into or waived by the instruments of closing, but shall
expressly survive and be binding on the parties so obligated. This agreement shall be binding on and
i.nure to the benefit of the respective heirs, successors, and assigns of #�e parties. �In this connection,
it is expressly understood that Purchaser shall have the right to transfer Purchaser's rights, privileges,
titles, options, and equities under this agreement on receiving seller's prior wxitten approval, wkuch
shall not be unreasonably withheld, to any person, partnership, limited partnership, or corporation,
and, on doing so, purchaser's assignee shall succeed to all rights, privileges, titles, options, equities,
.ReaP;Estate'Cos�tr�ct-300E:McKinney ' ' Page°6'ofT7 "'
obligations and liabilities of Purchaser urider this Contract, both those then accrued and those
thereafter to accrue, and will be and become the Purchaser of the property under this Contract, and
Seller wi11 accept the performance by such assignee, as fully as if the assignee had been initially
named in this Contract as Purchaser.
ARTICLE VIII.
NOTICE
Any notice required or permitted to be given under this Contract by one party to the other
shall be in variting and shall be given and be deemed to have been served and given as if delivered in
person, to the address set forth below, on the„party to whom notice is given, if placed in the United
States mail, postage prepaid, certified mail, return receipt requested, and addressed to the party at the
address specified below. The address for the Seller for all purposes contained in this agreement and
for notice under this agreement shall be: � Honorable Mary Horn, Denton County Judge, 110 W.
Hickory, Denton, Texas 76201, with copy to Denton County Criminal District Attorney's Office —
Civil Division, 1450 E. McKinney Street, Suite 3100, Denton, Texas 76209. The address of the
Purchaser for all purposes contained in this Contract and for all notices hereun.der shall be:
City of Denton
Attention: Paul Williamson
901-A Texas Street
Denton, Texas 76209
Telecopy: 940-3 49- 8 9 51
With.Copy to:
City Attorney's Office
Attention: Richard Casner, Deputy City Attorney
215 E. McKinney S.treet
Denton, Texas 76201
Telecopy: 940-3 82-7923
ARTICLE IX.
TEXAS LAW
This Contract shall be construed under and in accordance with the laws of the State of Texas
and all obligations of the parties created under this Contract are performable in Denton County,
Texas. If any one or more of the provisions contained in this Contract shall for any reason be held
invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall
not effect any other provision of this Contract, and this Contract shall be construed as if such invalid,
illegal, or unenforceable provision had never been contained in this Contract.
ARTICLE X.
PARTIES BOUND
This Contract shall be binding on and inure to the benefit of the parties and their respective
heirs, executors, administrators, legal representatives, successors, and assigns, where pernutted by
this Contract.
� Real EstaYe=�Contract — 300 E. McKinney
, . Page7of17 ,"
ARTICLE XI.
TIME OF ESSENCE
Time is of the essence in this Contract.
° - ART�`CLE �I.
PRIOR AGREEMENTS SUPERSEDED
This Contract constitutes the sole agreement of the parties and supersedes any prior
understandings or written or oral agreernents between the parties respecting the subject matter
contained in the Contract.
ARTICLE XIII.
GENDER
Words of any gender used in this Contract 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.
ARTICLE XIV.
HEADINGS
The headings contained in this Contract are for reference purposes only and shall not in any
way affect the meaning or interpretation of the Contract.
ARTICLE XV.
DEFAULT
On failure of Purchaser to complete this sale for reasons other than those provided by the
terms of this Confiract, Seller shall have the right to retain the earnest monies previously paid as
reasonable and foreseeable damages, and this Contract shall be null and void; and all obligations
under this Contract shall cease and terminate. Further, if title to the subject property is found
objectionable and is not cleared within the time provided above, on the failure of any condition
precedent, representation, covenant, and/or warranty, or on the failure of Seller to comply with the
terms of this Contract and/or complete this sale and purchase, Purchaser shall, at Purchaser's option,
be entitled to receive on written demand a refiuid of all earnest money previously deposited or paid,
and the escrow agent shall immediately return those deposits, releasing Seller from any liability or
obligation under the terms of this Contract on refund of the earnest money, and this Contract shall
terminate forever. Alternatively, Purchaser, at Purchaser's election, may enforce specific.
performance of this Contract or be entitled to such other legal and/or equitable remedies as may be
available to Purchaser. The parties hereby agree to execute and release required by the escrow agent
to effect the refund.
rReai:EstaYe"�otttr�aet — 300 E: �MeKinney • Page`8'of 77
ARTICLE XVI.
TIME LIMIT
In the event a fully executed copy of this Contract has not been returned to Purchaser by 5:00
p.m. on August 30, 2012. Purchaser shall have the right to terminate this Contract on written notice
to S�ller. T�is-�ontra�t �i� �xec�e�l-inmu7tipie °originals;�and any iuIiy �ex�c�xted copyshali constitute
an original, effective as of the date and year provided below.
ARTICLE XVII.
ENVIRONMENTAL REVIEW PERIOD
Any term or provision of this Contract notwithstanding the obligations of Purchaser specified
in this Contract are wholly conditioned on Purchaser's having determined, in Purchaser's discretion,
during the period commencing with the date of this Contract is fully executed and ending ninety (90)
calendar days thereafter (the "Environmental Review Period"), based on tests, examinations
(including intrusive examination, as deemed necessary by Purchaser), studies, investigations and
inspections of the environmental condition of the subj ect Property to determine the existence of any
environmental hazards or conditions in any environmental media, performed at Purchaser's sole cost,
that Purchaser finds the environmental condition of the subject Property suitable for Purchaser's
purposes, Purchaser is herein granted the right to conduct a physical inspection of the Subject
property, including inspections that invade the surface and subsurface of the subject property.
Notwithstanding any other provi�ion of this Contract to the contrary, if Purchaser determines, in its
sole judgment, that the environmental condition of the subj ect property is not suitable for Purchaser's
intended use or purpose, Purchaser may terminate this Contract by written notice t� the Seller as soon
as reasonably practicable, but in any event prior to the expiration of the Environmental Review
Period, in which case the Earnest Money will be immediately returned to Purchaser, and neither
Purchaser nor Seller shall have any further du.ties or obligations hereunder.
ARTICLE XVIII.
SELLER'S COVENANTS
From the date of this Contract until the Closing Date, Seller shall:
i. Not enter into any written or oral contract, lease, easement or right of way agreement,
conveyance or any other agreement of any kind with respect to, or affecting, the subject
property that will not be fully performed on or before the Closing Date or would be binding
on Purchaser or the subject property after the Closing Date.
ii. Not sell, assign, lease or convey any right, title or interest whatsoever in or to the Subject
property, or create, or permit to exist, any lien, encumbrance, or charge thereon.
ARTICLE XIX
RISK OF LOSS
If any damage or destruction to any improvement located on the subj ect property shall occur
�eal Est�te�CofttraotY-�300 E. Ivfc�Kinney " •` Page�9'oY"i7 "
prior to the Closing Date or if any third party condemnation or eminent domain proceedings are
threatened or initiated that might result in the taking of any portion of the subj ect property prior to the
Closing Date, Purchaser may, at Purchaser's option, do any of the following:
a. Terminate this Contract and withdraw from this transaction without cost, obligation or
��° Tia�ii�li�ty; in �v�hich��case°the �Earn�es�t Money s��:i�l=�e immediately returned to Purchaser and.
neither Purchaser nor Seller shall have any further duties or obligations hereunder; or
b. Consummate this Contract as if such casualty loss or eminent domain proceeding shall not
have occurred.
AFiTICLE XX
PRIOR CONTRACT
That certain Contract For Sale of Real Estate, executed by Purchaser on or about March 6,
2012, City of Denton Ordinance No. 2012-063, as amended, is hereby nullified and superceded by
this Contract.
THIS AGREEMENT REPRESENTS THE ENTIRE AGREEMENT BETWEEN SELLER
AND PURCHASER AND 1VIAI'NOT BE CONTRADICTED BY EVIDENCE OF PRIOR,
CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.
THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.
EXECUTED � C GC ' G �� , 2012.
PURC SER:
`
Geo ge C. Campbell, City Manager
SELL :
Mary Horn, De County Judge
�,PPROVED A5 TO FORM:
CI7Y ATTORNEY
CITY OF DENTON,�
eY.
;Regl.Es'tate�,Canlract— 300 E. McKinney �, Page �70 •of �? '
����T�IBIT A��
To '
Conta•�ct Z+'or Sale of �2ea1 �state
AL� those cei�tain lots, #racts or parc2ls o�'`laud"lying:an�i baing safuat�d •the Hiram Cisco Survey, Abstract
NumUer � 184, in. tha City and County of Dez�ton, State o£'�exas and being mo�'e pertieularly descXibed as follows;
Tract 1
BL]NG all tl�at �ertain lo[, tract or parcel of land conveyad to Denton County, 'I'exas fi�on� Earl L. Colsman, ei�d
wife,�.ioar.,Co]ernan,�by.�va���ar�ty.dse.d,date.d.J'.u1y.31., .1972 and recorded �n Volume b51, �age 569, Deed Records,
Denton County, Te�as;
Tract 2 '
BETNG aIl that certain lot, t�•act o�• parcel of land conveyecl to Dento�� Counl.y fi�ocn E,R. Luster and wife, Jimmie
D. Luster, by warranty deed dated J'anuary 18, 197�4 and recorded in 'Volume b95, S'age 371, Deed Recorcls,
Denton County, Te�as;
Tract 3
BETTIG a(I�-�tha#°eertaxn lot, tract or' -par�ced, o£:1oilcl...enn.veyed°°to �:Dent•an �QUntq -£r.ot� Lona M.� 5impsoq, by
vvarrunty deed dated September 12, 1973 and recorded ln V'olume 685, Page 230, l7eecl Records, Denton County,
Texas; •
Tract 4 ' t ' •
�ETNC� all that cei-tain lot, tract or .parcel of land conveyed to Dentoii County from James A. Mays and wife,
�obbie MayS, by,warranty deed dated April 30, 1974 and recorded in. Volume 7QS, Page 438, Deed Records,
Denton County, Texas;
Tract 5
BEZNG al� that certain lot, tract or paxcel of land coaaveyed to Denton County fi�am Qllie Kerley, by warranty deed
dated Se,ptember 1.2; 1973 and recorded in Volume b35, Page 234, Deed lZecords, Denton County, Texas;
Tract 6
BLING e1l that certain lot, tract or pprcel of land coiiveyed to Denton County from A.F, Evers, Jr., by warranty
deed dated November 21, 1973 ond recorded in Voluzne b9�, �'age 704, Deed Reeords, Denton Couniy, Texas;
Tract 7
T3L�INQ all that certain lot, tract or parcel of land conveyed to Denton County, Texas from Uollie Fay Stone, by
warronty deed dutec! k'eba•uary 9, 1973 and recorded in Volume 666, Page 505, Deed Xtecords, Denton Couniy,
Texas;
,;Real.;Eskate:�ootract— 300 E:-.McKioney •• Page �13 of'i7 ' ' '
E�ibit "B"
NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATUR.AL PERSON, YOU
MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING INFORMATION
FROM ANY INSTRUMENT THAT TRANSFERS AN INTEREST IN REAL PROPERTY
' . BEF�RE �IT IS FIL�D i+'OR�'RE(:�ORD I�i�1 �HE �PUBLIC RECORDS: YOUR SOCIAL
SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER.
THE .STA�':E-°OF, T:EYAS
COUNTY OF DENTON
SPECIAL WARRANTY DEED
§
§
§
KNOW ALL MEN BY THESE PRESENTS:
THAT THE UNDERSIGNED, DENTON COUNTY, TEXAS, whose address is 110 W.
Hickory Street, 2°d Floor, Denton, Texas 76201, hereinafter "Grantor," for and in consideration of
the sum of TEN DOLLARS ($10.00) cash, and other good and valuable consideration in hand paid
by the Grantee, herein named; the receipt and sufficiency of which is hereby fully acknowledged and
confessed, has GRANTED, SOLD and CONVEYED, and by these presents does hereby GRANT,
SELL and CONVEY unto City of Denton, a Texas home rule municipal corporation, whose address
is 215 E. McKinney Street, Denton, Texas 76201, hereinafter "Grantee," the real property described
in attached Exhibit "A," together with any and all rights or interests of Grantor in and to adjacent
streets, alleys and rights of way and together with all and singular the improvements and fixtures
thereon and all other rights and appurtenances thereto (collectively the "Property").
Exceptions to conveyauce and warranty: any and all validly existing encumbrances,
conditions and restrictions, relating to the hereinabove described property as now reflected by the
records of the County Clerk of Denton County, Texas.
Grantor, hereby specifically disclaims any warranty, guaranty or representation, oral or
written, past, present or future, of, as to, or concerning: (a) the nature and condition of the Properiy
or other items conveyed hereunder, including without limitation, the water, soil and geology, the
suitabiliiy thereof and of the Properiy or other items conveyed hereunder for any and all activities
and uses which Grantee may elect to conduct thereon, the existence of any environmental hazards or
conditions thereon (including, but not limited to, the presence of asbestos or other hazardous
&eal.'Eskate�Contract-300 E. McKinney - Page`I'2"b�'97 '
materials) or compliance with applicable environmental laws, rules and regulations; (b) the nature
and extent of any right-of-way, lease possession, lien encumbrance, license, reservation, condition or
otherwise; and (c) the compliance of the Property or its operation with any laws, ordinances or
regulations of any,g•ove�enta�.e�tity.,o.x•body. Grantee acknowl.edg.es.that_.Grantee has inspected
the Properiy and that Grantee is relying solely on Grantee's own investigation of the same and not on
any information provided or to be provided by or on behalf of Crrantor. Grantee further
acknowledges that any information provided with respect to the Property or other items conveyed
hereur�d'er was,�b:tained:�'r��:a variety:o.f�so..ur.css,Raia,d,.�Gr.antor.::-(�) has�not-mac���,any independent
investigation or verification of such information; and (2) does not make any representations as to the
accuracy or completeness of such information. This conveyance is made on an"AS IS," "WHERE
IS" and "WITH ALL FAULTS" basis, and Grantee expressly acknowledges that, except as otherwise
specified herein, Grantor has made no warranty or representation, express or implied, or arising by
operation of law, including, but not limited to, any warranty of condition, title (except as specifically
set forth and limited in this Deed), habitability, merchantability or fitness for a particular purpose
with respect to the Property, all such representations and warranties, as well as any implied
warranties being expressly disclaimed.
By Grantee's acceptance of this Deed, Grantee agrees that Grantor shall not be responsible or
liable to Grantee for any conditions affecting the Property, as Grantee is purchasing the same "AS
IS," "WHERE IS" and "WITH ALL FAULTS." Grantee or anyone claiming by, through or under
Grantee, to the extent permitted by law, hereby fully releases Grantor, Grantor's employees, officers,
directors, representatives, attorneys and agents from any and all claims that C'rrantee may now have or
hereafter acquire against Grantor, and Grantor's employees, officers, directors, representatives,
attorneys and agents for any cost, loss, liability, damage, expense, demand, action or cause of action
arising from or related to any conditions affecting the Property. Grantee further acknowledges and
agrees that this release shall be given full force and effect according to each of its expressed terms
and provisions, including, but not limited to, those relating to unknown and unsuspected claims,
damages and causes of action. This covenant releasing Grantor shall be a covenant running with the
Property and shall be binding upon Grantee.
::;�eal:Estate:CpnNact—..300E. MoKinney ' �� Page"13^of°F7
Notwithstanding anything to the contrary herein, Grantor hereby assigns without recourse or
representation of any nature, to Grantee, effective upon the execution and delivery hereof, any and all
claims or causes of action ("Claims") that Grantor may have for any such errors, omissions, defects
in or injury.to the,P.roper.ty. .As.a.material.c.ouena.nt and condition ofthis conveyance;: Grantee agrees
that in the event of any errors, omissions, defects, injuries to, or other conditions affecting, the
Property, Grantee shall look solely to parties other than Grantor, including, without limitation,
Grantor's lessees, assigns, predecessors and/or to such contractors and consultants as may have
contracted f�or �v�rl� �a.n cor�ecti.�n�'with �t�ie P:rciperty �'or any redress or relief. Upon `the assignment -
by Grantor of Grantor's claims, Grantee releases Grantor of all rights, express or implied, Grantee
may have against Grantor arising out of or resulting from any defects in the Property. Grantee
further understands that some of Grantor's lessees, assigns andlor predecessors in interest may be or
become insolvent, bankrupt, judgment proof or otherwise incapable of responding in damages, and
Grantee may have no remedy against such lessees, assigns and/or predeGessors, contractors or
consultants.
To the extent allowed by Texas law, Grantee hereby agrees to indemnify, protect, defend,
save and hold harmless Grantor, and Grantor's employees, officers, directors, representatives,
attorneys and agents from and against any and all debts, duties, obligations, liabilities, suits, claims,
demands, causes of actions, damages, losses, costs and expenses (including, without limitation,
attorney's fees and expenses and court costs) in any way relating to, connected with, or arising out of
the Property or the ownership, leasing, use, operation, maintenance and management thereof arising
from anci after the date hereof, including, without limitation, the cost of any removal of hazardous
substances or contaminants from the Property and other items conveyed hereunder.
It is understood and agreed that the purchase price has been adjusted by prior
negotiation to reflect that all of the subject Property is sold by Grantor and purchased by Grantee
subject to the foregoing.
TO HAVE AND TO HOLD the above described premises, together with all and singular the
rights and appurtenances thereto in anywise belonging unto the said Grantee, Grantee's successors
'�.Real �'state���'t�act-300 E. McKinney Page'94`tif 17 "' "
and/or assigns forever; and Grantor does hereby bind Grantor and Grantor's successors andlor
assigns to WARRIINT AND FOREVER DEFEND all and singular the said premises unto the said
Grantee, Grantee's successors and/or assigns, against every person whomsoever lawfully claiming or
to claim the ..sam�e ,:or .assy pa.rt .thereof �uhen the claim . is ,by, through, or under Grantor but not
otherwise.
Executed this day of , 2012.
GRANTOR:
DENTON COUNTY, TEXAS, by and through
the presiding officer of the Denton County Commissioners Court
THE STATE OF TEXAS §
§.
COUNTY OF DENTON §
BEFORE ME, a Notary Public, on this day personally appeared
, presiding officer of the Denton County Commissioners
Court, known to me to be the person whose name is subscribed to the foregoing instrument and
acknowledged to me that he/she executed the same for the purposes and consideration therein
expressed.
GNEN UNDER MY HAND AND SEAL OF OFFICE this day of
, 2012.
MY COMMISSION EXPIRES:
:Real� Estate's�ohUact—.3Q0.£.-Iv�cKinney
NOTARY PUBLIC, STATE OF TEXAS
PRINTED NAME OFNOTARY
,° Page 7`5'ai"T7 .
GRANTEE:
City of Denton
215 E:'•McK�iriney�'Street
Denton, Texas 76201
•;Real,Estate.Conh•�t— 300 E. McKinney "�� � Page'T6 of'I7
«��C�]BI�' A.�,
A�,I� those eeitni�� tots, traets oc pareals of lend lying and being eituated the Filra�n Clsco Survey, Abstrnet
� •Nwmbaril=�B+4,'ln-t1tb:City,nn�;�duniy:of:Daiito.n;State'o:FTexnsgnd�heiqgrrxm�o.partleular4ydescrl6edns-follows;
� o!
HE1NG nll t1�uf certain lot, tract or pnrcal of land oonveyad to Denton County, Taxns fi•om Earl L, Colamnn, eud
wife, 7oan Co]eman, by warranty deed dated Ju1y 31,1972 and reaordad ltt Yolume G51, Pago 569, Deed Records,
Dellton Caunty, Texns;
RC ' �
BEXNC3 all thAt cartsin lot, tract or psrcel of land conveyed to Aentolt Caunty fi�om B,R, Luster attd wifc, ]immie
D, Luster, Uy warranty deod datad 7anuary 18, 1974 and cacorded in Voluma G95, Page 371, Deed Reeords,
Denton County, Pexas;
•a t 3
�EWG ati ihat certain Iot, tract w• pareel of lanA eanveyed to bonton Couniy fi•om Lona M, Simpson, Uy
rvarrnnty dead dated SeptemUar 1,2, 1973 sud recorded in Volume 685, Puge 230, Aeacl Recol'ds, Dentou County,
Toxas; •
Trnat '
TiSIN43 all iliat CePtaltl lat, treat oP pnrcel of land conveyod to TJanton Gounty �i�om 7amos A. Mnys And 5vlfo,
Hobbie Mny�, by, warranty dvad dated April 30, 1974 and reoordad In 'Voluina 705, Page 438, Deed Recoreis,
Denton Couhty, Te�as;
raot
BSINQ all that aec•tain lot t��act or psroel of lund caxveyed to benton County fl•om 011fe iCedey, by warranty doed
dated September 12; ]973 and reoorded in Volume 685, Page z34, Aeed Recozds, Deuton County, Texas;
ro6
BLINO al] tliat cartain ]ot, fraat or parool of land ooavoyed to Denton County from .�.F, Evars, 7r., by warrnnty
deed datod Noveniher 21, 1973 and recorded In Voluma 690, Puga 70h, baed Tteaords, Dontan County, Toxas;
Tract
I3]3INQ all thet cw•tain lot, tract or parae] of la�id aonveyed to bonton County, Taxas from �oJlie �ay Stonv, by
werranty dead datad �+ebruary 9, 1973 atid recordad In VoJuma 666, Page 505, Daod ltococds, Denton County,
Toxes; �
SPECIAL WARRATY DE&D— Clty of bcnton-300 E. McKinney
Page 5 of 5
..iiea�l.:Eslate'Cdhnact— 300 E. McKinney ' � Page"17�ai'1 i'
� ;
/)')� fj�U�r:.��,�t�.� - �-�n�:�r �, �'�re��<;.;�
U
�7�+�� � E� Capital Title of Texas, LLC - Denton Urbina
�����"���� �� � . 620 West Hickory
- - - Denton, TX 76201
Phone 940-565-1919 Fax 940-565-1917
OWNER POLICY OF TITLE INSURANCE TRANSMITTAL
June 19, 2013
City of Denton, Texas, a Home Rule Municipal Corporation
901-A Texas Street
Denton, TX 76207
RE: Order No.: 1 1-1 1 5495-DU
Buyer/Borrower(s): City of Denton, Texas, a Home Rule Municipal Corporation
Sellers(s): County of Denton
Property Address: six tracts bordering East McKinney St, East Oak St and or
Oakland St, Denton, TX 76201
In connection with the above transaction, we enclose your Owner Policy of Title Insurance.
Your deed has been filed for record in the County Clerk's Office and it will be mailed directly to
you from that office.
It has been a pleasure to serve you. If we may assist you in the future, please let us know.
Jorge Urbina
JUrbina@ctot.com
Order No. 11-115495-DU
OTP Transmittal Page 1 of 1 Rev. 01/06
81143-016409
OWNER'S POLICY OF TITLE INSURANCE (T-1)
Issued by
Title Resources Guaranty Company
Any notice of claim and any other notice or statement in writing required to be given the Company under this Policy must be given to the
Company at the address shown in Section 78 of the Conditions.
COVERED RISKS
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE
CONDITIONS, Title Resources Guaranty Company, a Texas corporation (the "Company") insures, as of Date of Policy and, to the extent stated in
Covered Risks 9 and 1 D, after Date of Policy, against loss or damage, not exceeding the Amount of Insurance, sustained or incurred by the Insured by
reason of:
1. Title being vested other than as stated in Schedule A.
2. Any defect in or lien or encumbrance on the Title. This Covered Risk includes but is not limited to insurance against loss from:
(a) A defect in the Title caused by:
(i) forgery, fraud, undue influence, duress, incompetency, incapacity or impersonation;
(ii) failure of any person or Entity to have authorized a transfer or conveyance;
(iii) a document affecting Title not properly created, executed, witnessed, sealed, acknowledged, notarized or delivered;
(iv) failure to perform those acts necessary to create a document by electronic means authorized by law;
(v) a document executed under a falsified, expired or otherwise invalid power of attorney;
(vi) a document not properly filed, recorded or indexed in the Public Records including failure to perform those acts by electronic means
authorized by law; or
(vii) a defective judicial or administrative proceeding.
(b) The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable, but unpaid.
(c) Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and
complete land survey of the Land. The term "encroachment" includes encroachments of existing improvements located on the Land onto
adjoining land, and encroachments onto the Land of existing improvements located on adjoining land.
(d) Any statutory or constitutional mechanic's, contractor's, or materialman's lien for labor or materials having its inception on or before Date of
Policy.
3. Lack of good and indefeasible Title.
4. No right of access to and from the Land.
5. The violation or enforcement of any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting,
regulating, prohibiting or relating to:
(a) the occupancy, use or enjoyment of the Land;
(b) the character, dimensions or location of any improvement erected on the Land;
(c) subdivision of land; or
(d) environmental protection
if a notice, describing any part of the Land, is recorded in the Public Records setting forth the violation or intention to enforce, but only to the extent
of the violation or enforcement referred to in that notice.
6. An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement action,
describing any part of the Land, is recorded in the Public Records, but only to the extent of the enforcement referred to in that notice.
7. The exercise of the rights of eminent domain if a notice of the exercise, describing any part of the Land, is recorded in the Public Records.
8. Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge.
9. Title being vested other than as stated in Schedule A or being defective:
(a) as a result of the a�oidance in whole or in part, or from a court order providing an alternative remedy, of a transfer of all or any part of the title
to or any interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because that prior transfer constituted a
fraudulent or preferential transfer under federal bankruptcy, state insolvency or simifar creditors' rights laws; or
(6) because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal bankruptcy, state
insolvency or similar creditors' rights laws by reason of the failure of its recording in the Public Records:
(i) to be timely, or
(ii) to impart notice of its existence to a purchaser for value or a judgment or lien creditor.
10. Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or aitached or has
been filed or recorded in the Public Records subsequent to Date of Policy and prior to the recording of the deed or other instrument of transfer in
the Public Records that vests Title as shown in Schedule A.
The Company will also pay the costs, attorneys' fees and expenses incurred in defense of any matter insured against by this Policy, but only to the
exient provided in the Conditions.
���s <<u.�a,�� Title Resotar•ces Gzrarranty Co�rtpa�ry
� � %�
o w�•* �� a ! cu�-f� // �__ C ��
� � ; .. °� b BY C'L—
An Aulharized Si � ���+�� �� �� S� Executive Vice President �G�
� ��� �� �•
�
�Eth5 i
Secretary
FORM T-1: Owner's Policy of Title Insurance (For Use Only in Texas) Effective 2/1/201 D
EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys' fees or
expenses that arise by reason of:
1. (a) Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting or
relating to:
(i) the occupancy, use, or enjoyment of the Land;
(ii) the character, dimensions or location of any improvement erected on the Land;
(iii) subdivision of land; or
(iv) environmental protection;
or the effect of any violation of these laws, ordinances or governmental regulations. This Exclusion 1(a) does not modify or limit the coverage
provided under Covered Risk 5.
(b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 6.
2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8.
3. Defects, liens, encumbrances, adverse claims or other matters:
(a) created, suffered, assumed or agreed to by the Insured Claimant;
(b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in
writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy;
(c) resulting in no loss or damage to the Insured Claimant;
(d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 9 and 10);
or
(e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title.
4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that the transaction vesting the Title
as shown in Schedule A, is:
(a) a fraudulent conveyance or fraudulent transfer; or
(b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy.
5. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and
the date of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A.
6. The refusal of any person to purchase, lease or lend money on the estate or interest covered hereby in the land described in Schedule A because
of Unmarketable Title.
CONDITIONS
1. DEFINITION OF TERMS.
The following terms when used in this policy mean:
(a) "Amount of Insurance": the amount stated in Schedule A, as may be increased or decreased by endorsement to this policy, increased by
Section 8(b), or decreased by Sections 10 and 11 of these Conditions.
(b) "Date of Policy": The date designated as "Date of Policy" in Schedule A.
(c) "Entity": A corporation, partnership, trust, limited liability company or other similar legal entity.
(d) "�nsured": the Insured named in Schedule A.
(i) The term "Insured" aiso includes:
(A) successors to the Title of the Insured by operation of law as distinguished from purchase, including heirs, devisees, survivors,
personal representatives or next of kin;
(B) successors to an Insured by dissolution, merger, consolidation, distribution or reorganization;
(C) successors to an Insured by its conversion to another kind of Entity;
(D) a grantee of an Insured under a deed delivered without payment of actual valuable consideration conveying the Title;
(1) If the stock, shares, memberships, or other equity interests of the grantee are wholly-owned by the named Insured,
(2) If the grantee whoily owns the named Insured,
(3) If the grantee is wholly-owned by an a�liated Entity of the named Insured, provided the affiliated Entity and the named Insured
are both wholly-owned by the same person or Entity, or
(4) If the grantee is a trustee or beneficiary of a trust created by a written instrument established by the Insured named in Schedule
A for estate planning purposes.
(ii) With regard to (A), (B), (C) and (D) reserving, however, all rights and defenses as to any successor that the Company would have had
againstany predecessorinsured.
(e) "Insured Claimant": an Insured claiming loss or damage.
(fl "Knowledge" or "Known": actual knowledge, not constructive knowledge or notice that may be imputed to an Insured by reason of the Public
Records or any other records that impart constructive notice of matters affecting the Title.
(g) "Land": the land described in Schedule A, and affixed improvements that by law constitute real property. The term "Land" does not include any
property beyond the lines of the area described in Schedule A, nor any right, title, interest, estate or easement in abutting streets, roads,
avenues, alleys, lanes, ways or waterways, but this does not modify or limit the extent that a right of access to and from the Land is insured by
this policy.
(h) "Mortgage": morkgage, deed of trust, trust deed, or other security instrument, including one evidenced by electronic means authorized by law.
(i) "Public Records": records established under state statutes at Date of Policy for the purpose of imparting constructive notice of matters relating
to real property to purchasers for value and without Knowledge. With respect to Covered Risk 5(d), "Public Records" shall also include
environmental protection liens filed in the records of the clerk of the United States District Court for the district where the Land is located.
Q) "Title": the estate or interest described in Schedule A.
(k) "Unmarketable Title": Title affected by an alleged or apparent matter that would permit a prospective purchaser or lessee of the Title or lender
on the Title to be released from the obligation to purchase, lease or lend if there is a contractual condition requiring the delivery of marketable
title.
2. CONTINUATION OF INSURANCE.
The coverage of this policy shall continue in force as of Date of Policy in favor of an Insured, but only so long as the Insured retains an estate or
interest in the Land, or holds an obligation secured by a purchase money Mortgage given by a purchaser from the Insured, or only so long as the
Insured shall have liability by reason of warranties in any transfer or conveyance of the Title. This policy shall not continue in force in favor of any
purchaser from the Insured of either (i) an estate or interest in the Land, or (ii) an obligation secured by a purchase money Mortgage given to the
Insured.
3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT.
The Insured shall notify the Company promptly in writing (i) in case of any litigation as set forth in Section 5(a) below, or (ii) in case Knowledge shall
come to an Insured hereunder of any claim of title or interest that is adverse to the Title, as insured, and that might cause loss or damage for which
FORM T-1: Owner's Policy of Title Insurance (For Use Only in Texas) Effective 2/1/2010
the Company may be liable by virtue of this policy. If the Company is prejudiced by the failure of the Insured Claimant to provide prompt notice, the
Company's liability to the Insured Claimant under the policy shall be reduced to the extent of the prejudice.
When, after the Date of the Policy, the Insured notifies the Company as required herein of a lien, encumbrance, adverse claim or other defect in
Title insured by this policy that is not excluded or excepted from the coverage of this policy, the Company shall promptly investigate the charge to
determine whether the lien, encumbrance, adverse claim or defect or other matter is valid and not barred by law or statute. The Company shall
notify the Insured in writing, within a reasonable time, of its determination as to the validity or invalidity of the Insured's claim or charge under the
policy. If the Company concludes that the lien, encumbrance, adverse claim or defect is not covered by this policy, or was otherwise addressed in
the closing of the transaction in connection with which this policy was issued, the Company shall specifically advise the Insured of the reasons for
its determination. If the Company concludes that the lien, encumbrance, adverse claim or defect is valid, the Company shall take one of the
following actions: (i) institute the necessary proceedings to clear the lien, encumbrance, adverse claim or defect from the Title as insured; (ii)
indemnify the Insured as provided in this policy; (iii) upon payment of appropriate premium and charges therefor, issue to the Insured Claimant or to
a subsequent owner, mortgagee or holder of the estate or interest in the Land insured by this policy, a policy of title insurance without exception for
the lien, encumbrance, adverse claim or defect, said policy to be in an amount equal to the current value of the Land or, if a mortgagee policy, the
amount of the loan; (iv) indemnify another title insurance company in connection with its issuance of a policy(ies) of title insurance without exception
for the lien, encumbrance, adverse claim or defect; (v) secure a release or other document discharging the lien, encumbrance, adverse claim or
defect; or (vi) undertake a combination of (i) through (v) herein.
4. PROOF OF LOSS.
In the event the Company is unable to determine the amount of loss or damage, the Company may, at its option, require as a condition of payment
that the Insured Claimant furnish a signed proof of loss. The proof of loss must describe the defect, lien, encumbrance or other matter insured
against by this policy that constitutes the basis of loss or damage and shall state, to the extent possible, the basis of calculating the amount of the
loss or damage.
5. DEFENSE AND PROSECUTION OF ACTIONS.
(a) Upon written request by the Insured, and subject to the options contained in 5ections 3 and 7 of these Conditions, the Company, at its own
cost and without unreasonable delay, shall provide for the defense of an Insured in litigation in which any third party asserts a claim covered by
this policy adverse to the Insured. This obligation is limited to only those stated causes of action alleging matters insured against by this policy.
The Company shall have the right to select counsel of its choice (subject to the right of the Insured to object for reasonable cause) to represent
the Insured as to those stated causes of action. It shall not be liable for and will not pay the fees of any other counsel. The Company will not
pay any fees, costs or expenses incurred by the Insured in the defense of those causes of action that allege matters not insured against by this
policy.
(b) The Company shall have the right, in addition to the options contained in Sections 3 and 7, at its own cost, to institute and prosecute any
action or proceeding or to do any other act that in its opinion may be necessary or desirable to establish the Title, as insured, or to prevent or
reduce loss or damage to the Insured. The Company may take any appropriate action under the terms of this policy, whether or not it shall be
liable to the Insured. The exercise of these rights shall not be an admission of liability or waiver of any provision of this policy. If the Company
exercises its rights under this subsection, it must do so diligently.
(c) Whenever the Company brings an action or asserts a defense as required or permitted by this policy, the Company may pursue the litigation to
a final determination by a court of competent jurisdiction and it expressly reserves the right, in its sole discretion, to appeal from any adverse
judgment or order.
6. DUTY OF INSURE� CLAIMANT TO COOPERATE.
(a) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding and any
appeals, the Insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, including the right
to use, at its option, the name of the Insured for this purpose. Whenever requested by the Company, the Insured, at the Company's expense,
shall give the Company all reasonable aid (i) in securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or
effecting settlement, and (ii) in any other lawful act that in the opinion of the Company may be necessary or desirable to establish the Title or
any other matter as insured. If the Company is prejudiced by the failure of the Insured to furnish the required cooperation, the Company's
obligations to the Insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation,
with regard to the matter or matters requiring such cooperation.
(b) The Company may reasonably require the Insured Claimant to submit to examination under oath by any authorized representative of the
Company and to produce for examination, inspection and copying, at such reasonable times and places as may be designated by the
authorized representative of the Company, all records, in whate�er medium maintained, including books, ledgers, checks, memoranda,
correspondence, reports, e-mails, disks, tapes, and videos whether bearing a date before or after Date of Policy, that reasonably pertain to the
loss or damage. Further, if requested by any authorized representative of the Company, the Insured Claimant shall grant its permission, in
writing, for any authorized representative of the Company to examine, inspect and copy all of these records in the custody or control of a third
party that reasonably pertain to the loss or damage. All information designated as confidential by the Insured Claimant provided to the
Company pursuant to this Section shall not be disclosed to others unless, in the reasonable judgment of the Company, it is necessary in the
administration of the claim. Failure of the Insured Claimant to submit for examination under oath, produce any reasonably requested
information or grant permission to secure reasonably necessary information from third parties as required in this subsection, unless prohibited
by law or governmental regulation, shall terminate any liability of the Company under this policy as to that claim.
(c) If the Insured demands that the Company accept a settlement offer that is not greater than the Amount of Insurance or if the Insured expressly
agrees that a settlement offer shouid be accepted, the Company has a right to be reimbursed if it has timely asserted its reservation of rights
and notified the Insured that it intends to seek reimbursement if it pays to settle or defend a claim that is not covered by the policy.
7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY.
In case of a claim under this policy, the Company shall have the following additional options:
(a) To Pay or Tender Payment of the Amount of Insurance.
To pay or tender payment of the Amount of Insurance under this policy together with any costs, attorneys' fees and expenses incurred by the
Insured Claimant that were authorized by the Company up to the time of payment or tender of payment and that the Company is obligated to
pay.
Upon the exercise by ihe Company of this option, all liability and obligations of the Company to the Insured under this policy, other than to
make the payment required in this subsection, shall terminate, including any liability or obligation to defend, prosecute, or continue any
litigation.
(b) To Pay or Otherwise Settle With Parties Other than the Insured or With the Insured Claimant.
(i) to pay or otherwise settle with other parties for or in the name of an Insured Claimant any claim insured against under this policy. In
addition, the Company will pay any costs, attorneys' fees and expenses incurred by the Insured Claimant that were authorized by the
Company up to the time of payment and that the Company is obligated to pay; or
(ii) to pay or otherwise settle with the Insured Claimant the loss or damage provided for under this policy, together with any costs, attorneys'
fees and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment and that the
Company is obligated to pay.
Upon the exercise by the Company of either of the options provided for in subsections (b)(i) or (ii), the Company's obligations to the Insured under
FORM T-1: Owner's Policy of Title Insurance (For Use Only in Texas) Effective 2/1/2010
This policy for the claimed loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to
defend, prosecute or continue any litigation.
8. DETERMINATION AND EXTENT OF LIABILITY.
This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the Insured Claimant who has suffered loss
or damage by reason of matters insured against by this policy.
(a) The extent of liability of the Company for loss or damage under this policy shall not exceed the lesser of:
(i) the Amount of Insurance; or
(ii) the difference between the value of the Title as insured and the value of the Title subject to the risk insured against by this policy.
(b) If the Company pursues its rights under Section 3 or 5 and is unsuccessful in establishing the Title, as insured,
(i) the Amount of Insurance shall be increased by 10%, and
(ii) the Insured Claimant shall have the right to have the loss or damage determined either as of the date the claim was made by the Insured
Claimant or as of the date it is settled and paid.
(c) In addition to the extent of liability under (a) and (b), the Company will also pay those costs, attorneys' fees and expenses incurred in
accordance with Sections 5 and 7 of these Conditions.
9. LIMITATION OF LIABILITY.
(a) If the Company establishes the Title, or removes the alleged defect, lien or encumbrance, or cures the lack of a right of access to or from the
Land, all as insured, or takes action in accordance with Section 3 or 7, in a reasonably diligent manner by any method, including litigation and
the completion of any appeals, it shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or
damage caused to the Insured.
(b) In the event of any litigation, including litigation by the Company or with the Company's consent, the Company shall have no liability for loss or
damage until there has been a final determination by a court of competent jurisdiction, and disposition of all appeals, adverse to the Title, as
insured.
(c) The Company shall not be liable for loss or damage to the Insured for liability voluntarily assumed by the Insured in settling any claim or suit
without the prior written consent of the Company.
10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF LIABILITY.
All payments under this policy, except payments made for costs, attorneys' fees and expenses, shall reduce the Amount of Insurance by the
amount of the payment.
11. LIABILITY NONCUMULATIVE.
The Amount of Insurance shall be reduced by any amount the Company pays under any policy insuring a Mortgage to which exception is taken in
Schedule B or to which the Insured has agreed, assumed, or taken subject or which is executed by an Insured after Date of Policy and which is a
charge or lien on the Title, and the amount so paid shall be deemed a payment to the Insured under this policy.
12. PAYMENT OF LOSS.
When liability and the extent of loss or damage have been definitely fixed in accordance with these Conditions, the payment shall be made within
30 days.
13. RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT.
(a) Whenever the Company shall have settled and paid a claim under this policy, it shall be subrogated and entitled to the rights of the Insured
Claimant in the Title and all other rights and remedies in respect to the claim that the Insured Claimant has against any person or property, to
the extent of the amount of any loss, costs, attorneys' fees and expenses paid by the Company. If requested by the Company, the Insured
Claimant shall execute documents to evidence the transfer to the Company of these rights and remedies. The Insured Claimant shall permit
the Company to sue, compromise or settle in the name of the Insured Claimant and to use the name of the Insured Claimant in any transaction
or litigation involving these rights and remedies.
If a payment on account of a claim does not fully cover the loss of the Insured Claimant, the Company shall defer the exercise of its right to
recover until after the Insured Claimant shall have recovered its loss.
(b) The Company's right of subrogation includes the rights of the Insured to indemnities, guaranties, other policies of insurance or bonds,
notwithstanding any terms or conditions contained in those instruments that address subrogation rights.
14. ARBITRATION.
Either the Company or the Insured may demand that the claim or controversy shall be submitted to arbitration pursuant to the Title Insurance
Arbitration Rules of the American Land Title Association ("Rules"). Except as provided in the Rules, there shall be no joinder or consolidation with
claims or controversies of other persons. Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and
the Insured arising out of or relating to this policy, any service in connection with its issuance or the breach of a policy pro�ision, or to any other
controversy or claim arising out of the transaction giving rise to this policy. All arbitrable matters when the Amount of lnsurance is $2,000,000 or
less shall be arbitrated at the option of either the Company or the Insured, unless the Insured is an individual person (as distinguished from an
Entity). All arbitrable matters when the Rmount of Insurance is in excess of $2,000,000 shall be arbitrated only when agreed to by both the
Company and the Insured. Arbitration pursuant to this policy and under the Rules shall be binding upon the parties. Judgment upon the award
rendered by the Arbitrator(s) may be entered in any court of competent jurisdiction.
15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT.
(a) This policy together with all endorsements, if any, attached to it by the Company is the entire policy and contract between the Insured and the
Company. In interpreting any provision of this policy, this policy shall be construed as a whole.
(b) Any claim of loss or damage that arises out of the status of the Title or by any action asserting such claim, shall be restricted to this policy.
(c) Any amendment of or endorsement to this policy must be in writing and authenticated by an authorized person, or expressly incorporated by
Schedule A of this policy.
(d) Each endorsement to this policy issued at any time is made a part of this policy and is subject to all of its terms and provisions. Except as the
endorsement expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsement, (iii) extend
the Date of Policy or (iv) increase the Amount of Insurance. Each Commitment, endorsement or other form, or provision in the Schedules to
this policy that refers to a term defined in Section 1 of the Conditions shall be deemed to refer to the term regardless of whether the term is
capitalized in the Commitment, endorsement or other form, or Schedule. Each Commitment, endorsement or other form, or provision in the
Schedules that refers to the Conditions and Stipulations shall be deemed to refer to the Conditions of this policy.
16. SEVERABILITY.
In the event any provision of this policy, in whole or in part, is held invalid or unenforceable under applicable law, the policy shall be deemed not to
include that provision or such part held to be invalid and all other provisions shall remain in full force and effect.
17. CHOICE OF LAW; FORUM.
(a) Choice of Law: The Insured acknowledges the Company has underwritten the risks covered by this policy and determined the premium
charged therefor in reliance upon the law affecting interests in real property and applicable to the interpretation, rights, remedies or
enforcement of policies of title insurance of the jurisdiction where the Land is located.
FORM T-1: Owner's Policy of Title Insurance (For Use Only in Texas) Effective 2/1/2010
Therefore, the court or an arbitrator shall apply the law of the jurisdiction where the Land is located to determine the validity of claims against
the Title that are adverse to the Insured, and in interpreting and enforcing the terms of this policy. In neither case shall the court or arbitrator
apply its conflicts of laws principles to determine the applicable law.
(b) Choice of Forum: Any litigation or other proceeding brought by the Insured against the Company must be filed only in a state or federal court
within the United States of America or its territories having appropriate jurisdiction.
18. NOTICES, WHERE SENT.
Any notice of claim and any other notice or statement in writing required to be given the Company under this Policy must be given to the Company
at: Title Resources Guaranty Company, 8111 LBJ Freeway, Ste. 1200, Dallas, TX 75251.
FORM T-1: Owner's Policy of Title Insurance (For Use Only in Texas) Effective 2/1/2010
OWNER'S POLICY OF TITLE INSURANCE
Issued by
Title Resou�ces Guaranty Company
SCHEDULE A
Name and Address of Title Insurance Company:
TITLE RESOURCES GUARANTY COMPANY
8ll1 LBJ Freeway, Suite 1200, Dallas, 75251
File No.: 11-115495-DU
Policy No.: 81143-016409
Address for Reference only: six tracts bordering East McKinney St, East Oak St and or Oakland St, Denton, TX 76201
JAmount of Insurance: $779,895.00 Premium: $5,19510
Date of Policy: January 3, 2013, at 03:35 pm
1. Name of Insured: City of Denton, Texas home rule municipal corporation
2. The estate or interest in the Land that is insured by this policy is: Fee Simple
3. Title is insured as vested in: City of Denton, a Texas home rule municipal corporation
4. The Land referred to in this policy is described as follows:
ALL THAT CERTAIN TRACT OR PARCEL OF LAND LYING AND BEING SITUATED IN THE H. SISCO
SURVEY, ABSTRACT NUMBER l 184, CITY OF DENTON, DENTON COUNTY, TEXAS, AND BEING ALL OF
SEVEN TRACTS DESCRIBED IN DEEDS TO DENTON COUNTY, TEXAS, RECORDED IN VOLUME 651,
PAGE 569, VOLUME 695, PAGE 371, VOLUME 655, PAGE 230, VOLUME 705, PAGE 438, VOLUME 685, PAGE
234, VOLUME 690, PAGE 704, AND VOLUME 666, PAGE 504, DEED RECORDS, DENTON COUNTY, TEXAS,
AND BEING MORE PARTICULARL•Y DESCRIBED AS FOLLOWS:
BEGINNING AT AN X SET IN CONCRETE AT THE NORTHWEST CORNER OF SAID DENTON COUNTY
TRACT (651/569) AT THE INTERSECTION OF THE SOUTH LINE OF McKiNNEY STREET AND THE EAST
LINE OF OAKLAND STREET;
THENCE SOUTH 87 DEGREES 52 MINUTES 25 SECONDS EAST WITH THE SOUTH LINE OF McKINNEY
STREET, A DISTANCE OF 150.00 FEET TO AN X SET IN CONCRETE AT THE NORTHEAST CORNER OF
SAID DENTON COUNTY TRACT (651/569) AND THE NORTHWEST CORNER OF SAID DENTON COUNTY
TRACT (695/371), SAID X ALSO BEING ON THE SOUTH LINE OF McKINNEY STREET;
THENCE SOUTH 87 DEGREES 37 MINUTES 25 SECONDS EAST WITH THE SOUTH LINE OF SAID
McKINNEY STREET, A DISTANCE OF 150.00 FEET TO AN X SET 1N CONCRETE AT THE NORTHEAST
CORNER OF SAID DENTON COUNTY TRACT (685/230) AND THE NORTHWEST CORNER OF A TRACT
DESCRIBED IN A DEED TO THE JOAN COHAGEN LIVING TRUST, RECORDED UNDER COUNTY CLERK'S
F1LE NUMBER 2002-R0055821, REAL PROPERTY RECORDS, DENTON COUNTY, TEXAS, SAID PIN ALSO
BEING ON THE SOUTH LINE OF McKINNEY STREET;
THENCE SOUTH 00 DEGREES 23 MINUTES 26 SECONDS WEST WITH THE EAST LINE OF SAID DENTON
COUNTY TRACT (685/230) AND THE WEST LINE OF SAID COHAGEN TRACT, A DISTANCE OF 122.60 FEET
TO A 1/2 1NCH IRON PIN WITH A YELLOW PLASTIC CAP STAMPED "METROPLEX 1849" SET AT A
SOUTHEAST CORNER OF SAID DENTON COUNTY TRACT (685/230) AND AN INNER ELL CORNER OF
SAID COHACEN TRACT;
THENCE NORTH 89 DEGREES 59 MINUTES 01 SECONDS WEST WITH THE SOUTH LINE OF SAID
DENTON COUNTY TRACT (685/230) AND A NORTH LINE OF SAID COHAGEN TRACT, A DISTANCE OF
15.40 FEET TO A NORTHWEST CORNER OF SAID COHAGEN TRACT;
THENCE SOUTH 00 DEGREES 00 MINUTES 59 SECONDS WEST WITH THE EAST LINE OF SAID DENTON
COUNTY TRACT (705/438) AND THE WEST LINE OF SAID COHAGEN TRACT, A DISTANCE OF 161.20 FEET
FORM T-1: O�vner's Policy of Title Insurance Page 1
Continuation of Schedule A
Policy No. 81143-016409
TO AN X SET IN CONCRETE AT THE SOUTHEAST CORNER OF SAID DENTON COUNTY TRACT (705/438)
AND THE SOUTHWEST CORNER OF SAID COHAGEN TRACT, SAID X ALSO BEING ON THE NORTH LINE
OF OAK STREET;
THENCE NORTH 89 DEGREES 59 MTNUTES 02 SECONDS WEST WITH THE NORTH LINE OF OAK
STREET, A DISTANCE OF 285.00 FEET TO A 1/2 INCH IRON PIN WITH A YELLOW PLASTIC CAP
STAMPED "METROPLEX 1849" SET AT THE SOUTHWEST CORNER OF SAID DENTON COUNTY TRACT
(666/504) AND THE INTERSECTION OF THE NORTH LINE OF OAK STREET AND THE EAST LINE OF
OAKLAND STREET;
THENCE NORTH 00 DEGREES 17 MINUTES 37 SECONDS EAST WITH THE EAST LINE OF OAKLAND
STREET, A DISTANCE OF 295.50 FEET TO THE POINT OF BEGINNING AND CONTAINING IN ALL 1.938 `�
ACRES OF LAND.
NOTE: The Company is prohibited from insuring the area or quantity of the land described herein. Any statement in
the legal description contained in Schedule "A" as to area or quantity of land is not a representation that such area or
quantity is correct, but is made only for informal identi�cation purposes and does not override Item 2 of Schedule
"B" hereof.
rORM T-1: Owner's Policy of Title Insm•ance Page 2
OWNER'S POLICY OF TITLE INSURANCE
Issued by
Title Resources Guaranty Company
SCHEDULE B
File No.: 11-115495-DU Policy No.: 81143-016409
EXCEPTIONS FROM COVERAGE
This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) that arise by
reason of the terms and conditions of leases and easements, if any, shown in Schedule A, and the following matters:
1. The following restrictive covenants of record itemized below (the Company must either insert specific recording data or
delete this exception):
ITEM NO. 1, SCHEDULE B, IS HEREBY DELETED IN ITS ENTIRETY.
2. n,,., ,a;�,.,.or,,,,,.;o� ,.,,.,�,;,.+� ,,,. shortages in area ,.,.,�,,, „a.,,...,;,,e� „ .,,.�,,,,o„+� „ ,.,.+�.,�;,,,,� „ o.a�,,,,;,,,,
3. Homestead or community property or survivorship rights, if any, of any spouse of any Insured.
4. Any titles ar rights asserted by anyone, including, but not limited to, persons, the public, corporations, governments or other
entities,
a. to tidelands, or lands comprising the shores or beds of navigable or perennial rivers and streams, lakes, bays, gulfs or
oceans, or
b. to lands beyond the line of harbor or bulkhead lines as established ar changed by any government, or
c. to filled-in lands, or artificial islands, or
d. to statutory water rights, including riparian rights, or
e. to the area extending from the line of inean low tide to the line of vegetation, or the right of access to that area or
easement along and across that area. ��j�3 n�t -���� <�s« ;' (!�"-,t` �� �� ,
Standby fees, taxes and assessments by any taxing authority for the yea� 20� and subsequent years; and subsequent taxes
and assessments by any taxing authority for prior years due to change m land usage or ownership, but not those taxes or
assessments for prior years because of an exemption ganted to a previous owner of the property under Section 11.13, Texas
Tax Code, or because of improvements not assessed for a previous taac year.
The following matters and all tenns of the documents creating or offering evidence of the matters (The Company must insert
matters or delete this exception.):
a. All leases, grants, exceptions or reservations of coal, lignite, oil, gas and other minerals, together with all
rights, privileges and immunities relating thereto, appearing in the Public Records whether listed in Schedule
B or not. There may be leases, grants, exceptions or reservations of mineral interest that are not listed.
�( b. J Rights of parties in possession.
���
o�� Easement granted to the City of Denton by the County of Denton by instrument dated April 8, 1991, �led April
l5, 1991, recorded in Volume 2959, Page 969, Real Property Records, Denton County, Texas, and as shown on
}� survey by Brad G. Shelton, R.P.L.S. No. 5452, dated October 10, 2012.
FORM T-1: Owncr's Policy of Title Insurance Page 3
Continuation of Schedule B Policy No. 81143-016409
d. Easement granted to Patricia Penni�gton, her heirs and assigns, by the County of Denton by instrument dated
August 31, 1990, filed May 6, 1991, recorded in Volume 2973, Page 419, Real Property Records, Denton
County, Texas, and as shown on survey by Brad G. Shelton, R.P.L.S. No. 5452, dated October 10, 2012.
� Easement granted to the City of Denton by the County of Denton by instrument dated October 31, 1995, �led
'�b December 11, 1995, recorded in Instrument File No. 95-R0077o14, Real Property Records, Denton County, �!"' =`
Texas, and as shown on survey by Brad G. Shelton, R.P.L.S. No. 5452, dated October 10, 2012.
i�� Easement granted to the City of Denton by Earl L. Coleman by instrument dated February 12, 1973, filed
� � February 13, 1973, recorded in Volume 665, Page 659, Real Property Records, Denton County, Texas, and as
shown on survey by Brad G. Shelton, R.P.L.S. No. 5452, dated October 10, 2012.
Countersigned
Capital Title of Texas, LLC - Denton Urbina
��� � �
By _
�
Authorized Signatory
rORM T-l: O�vner's Policy of Titic Insurance Page 4
✓
Minerals and Surface Damage Endorsement (T-19.2)
Attached to Policy No. 81143-016409; Applies to Parcel(s) Schedule A, Item No. 4
Issued by:
TITLE RESOURCES GUARANTY COMPANY
Herein called the Company
The Company insures the insured against loss which the insured shall sustain by
reason of damage to improvements (excluding lawns shrubbery, or trees) located on
the Land on or after Date of Policy resulting from the future exercise of any right
existing at Date of Policy to use the surFace of the Land for the extraction or
development of coal, lignite, oil, gas or other minerals excepted or excluded on
Schedule A, Item 2 or excepted in Schedule B. This endorsement does not insure
against loss resulting from subsidence.
This endorsement is issued as part of the policy. Except as it expressly states, it does
not (i) modify any of the terms and provisions of the policy, (ii) modify any prior
endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance.
To the extent a provision of the policy or a previous endorsement is inconsistent with an
express provision of this endorsement, this endorsement controls. Otherwise, this
endorsement is subject to all of the terms and provisions of the policy and of any prior
endorsements.
TITLE RESOURCES GUARANTY COMPANY
(.��-,� � ,�.
By:
�
Authorized Signatory
Form T-19.2: Minerals and Surface Damage Endorsement
s:\lega]\our documentslcontracts112\lst amendment to denton county contract - mckinney street property.doc
FIRST AMENDMENT
TO
CONTRACT FOR SALE OF REAL ESTATE
THIS FIRST ANIENDMENT "���NTRACT FOR SALE OF REAL ESTATE (the
"Amendment"), is entered into this �day of September, 2012, by and between Denton County,
Texas ("Seller") and the City of Denton, Texas ("Purchaser").
WHEREAS, pursuant to that certain Contract For Sale Of Real Estate (the "Original
Contract"), dated on or about August 21, 2012 (City of Denton Ordinance No. 2012-187), Seller
agreed to sell, and Purchaser agreed to purchase, that certain 2.0 acre tract located in the Hirarn Sisco
Survey, Abstract No. 1184, Denton County, Texas, as more particularly described therein;
WHEREAS, the Original Contract provided for a closing date of the transaction contemplated
therein of November 29, 2012;
WHEREAS, Seller and Purchaser now desire to amend the closing date of the Original
Contract.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, Purchaser and Seller hereby amend the Original Contract as follovvs:
1. The first sentence of "ARTICLE V. CLOSING" is hereby deleted and replaced with the
following first sentence:
The closing shall be held at the office of Capital Title of Texas — Jorge Urbina, 620 West
Hickory, Denton, Texas 76201 (940-565-1919) on December 31, 2012 or at such time, date,
and place as Seller and Purchaser may agree ("closing date").
2. Except as amended hereby, the Original Contract shall remain valid and subsisting as
originally provided.
PURCHASER:
c,�
Geo ge C. Campbell, City Manager
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
BY: GV
Real °Estat� Crontract — 300 E. McKinney ' Page'i' of 2
s:Uega]lour documentslcontracts11211st amendment to denton county contract - mckinney street properiy.doc
APPROVED AS TO LEGAL FORM:
ANITA BURGESS, CITY ATTORNEY
BY: �
SELLE .
l
Mary Horn, Dent County Judge
�3iEa1 Estate°Contraet — 300 E. McKinney Page 2 of•2
94.B
T%IE ORbFR:
DENT�N COUNTY
C�MMISSIONERS COURT
09/i1/2012
Month `�`y ` — A�
l.l �U
Court Orcler Numbel'
Approval of the A,nendment to the Contract for Sale of Real �sfate between Denton County, Texas,
and the City of Denton, Tcxas, for the sale of a certain 2,00 acrc tract of land with improvements,
located at the southeast corner of McKinney Street snd �aK Street in the H. Cisco Survey, Abstract No.
11840, in tt�e amount of $779,895.00 in order to amend the closing date to December 31, 2022, and any
a�propriate action. Commissioner Precinct #4,
Mation by
C4untv Judee
Mary Tiorn
Commtssto� Pct (Va 1 le3 .�
iiugh Coleman Abalafn !,
1Vo _
nbsent �
CqmnUssimierPetN�3 Yes,�
Bohble J. Mltehell Absfaln _,,,,
No
Absent �
Seconded by �
Ycs �
Abstain �„
M1fo
Absent
Commis9lonerPN iNy,2 Ycs ,�
Ron Marehant A�stefn
Ho _'_'
Absent
Commissioner Pct Mo 4 Yw �
AndyEads Abelaln �
I�o
Absent _
Motion Carrsed � . '
Other Action: Pulled frpm Cna�sent ,�,,, lYo Action _„
Preslding
couxr:
.
, tit���;�'.'',
��?'^�,wCQ�� 1'. . '
� 1�'� ,;:;; ,
�+� `;"?� .. ,
�'r� � �
, ,� •' .
(• •
Postponed ____,
ATTCST:
Cynthta Milchell, County Clerk
and Ex-Oficlo Clcrk of Ihe
Comroiss[oncrs Courc of
Denton County,Texas
�
�Yt
Deputy Co ty erk
neiirar Cnu»ty Pa&e 3 aj3 Yrinted o+e 9/6I2l112
Page 547 oi 6B1