2016-143s;\legal\our documents\ordinances\16\denton county - county annex property ordinance.doc
ORDINANCE NO. 2016-143
AN ORDINANCE OF THE CITY OF DENTON AUTHORIZING THE EXECUTION OF A
CONTRACT OF SALE OF REAL ESTATE ("CONTRACT") BETWEEN THE CITY OF
DENTON ("CITY"), AS BUYER, AND DENTON COUNTY, TEXAS ("COUNTY"), AS
SELLER, FOR THE PURCHASE OF A 1.083 ACRE TRACT, MORE OR LESS, LOCATED
1N THE B.B.B. & C. RAILROAD COMPANY SURVEY, ABSTRACT NO. 185, DENTON
COUNTY, TEXAS, AND LOCATED GENERALLY ON THE NORTH SIDE OF THE 300
BLOCK OF E. MCKINNEY STREET, DENTON, DENTON COUNTY, TEXAS, AND MORE
PARTICULARLY DESCRIBED IN THE CONTRACT OF SALE ATTACHED AS EXHIBIT
"A", FOR THE PURCHASE PRICE OF ONE MILLION AND NO/100 DOLLARS
($1,000,000.00); AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council finds that the acquisition of an approximate 1.083 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 ORDAINS:
SECTION ,1. The City Manager, or his designee, is authorized to: (a) execute (i) a Contract
of Sale, between the City of Denton, as Purchaser, and Denton County, Texas, as Seller, under the
terms and conditions set forth in the attached Exhibit "A", (ii) amend or modify the terms of the
Contract; and, (b) execute any other documents necessary for closing of the transaction
contemplated by the Contract.
SECTION 2. The City Manager is 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 ������ m day of ����`�. ,, 2016.
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CHRIS WA"I�"��`�, MAYOR
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
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ANITA BURGESS, CITY ATTORNEY
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CONTRACT OF SALE
This Contract of Sale ("Contract”) is made between Denton County, Texas, a political
subdivision of the State of Texas ("Seller") and the City of Denton, a Texas home rule municipal
corporation ("Buyer").
RECITALS
WHEREAS, Seller owns that certain tract of land being more particularly described on
attached Exhibit "A", with a local address of 301 E. McKinney St., Denton, Denton County,
Texas ("Property"); and
WHEREAS, Seller desires to sell to Buyer, and Buyer desires to buy from Seller, the
Property, together with any and all rights or interests of Seller 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 to the Property.
ARTICLE I
�ALF. QF �'�OPERTY
1.01 For the consideration hereinafter set forth, and upon the terms, conditions and provisions
herein contained, and subject to the reservations herein, Seller agrees to sell and convey to
Buyer, and Buyer agrees to purchase from Seller, the Property.
ARTICLE II
PURCHASE PRICE. FARNF.�T �ONEY, AND EFFECTIVE DATE
2.01 Purchase Price. The Purchase Price to be paid to Seller for the Property is the sum of
One Million Dollars and No/Cents ($1,000,000.00) ("Purchase Price").
2.02 Earnest Money. Buyer shall deposit the sum of Fifty Thousand and No/100 Dollars
($50,000.00), as Earnest Money (herein so called) with Urbina Law and Title, 620 W. Hickory
St., Denton, Texas 76201 ("Title Company"), as escrow agent, within fourteen (14) calendar
days after the Effective Date hereo£ All interest earned thereon shall become part of the Earnest
Money and shall be applied or disposed of in the same manner as the original Earnest Money
deposit, as provided in this Contract. If the purchase contemplated hereunder is consummated in
accordance with the terms and the provisions hereof, the Earnest Money, together with all
interest earned thereon, shall be applied to the Purchase Price at Closing. In all other events, the
Earnest Money, and the interest accrued thereon, shall be disposed of by the Title Company as
provided in this Contract.
2.03 Independent Contract Consideration. Within fourteen (14) calendar days after the
Effective Date, Buyer shall deliver to the Title Company, payable to and for the benefit of Seller,
a check in the amount of One Thousand and No/100 Dollars ("Independent Contract
Consideration"), which amount the parties hereby acknowledge and agree has been bargained for
Page 1 of 18 — Contract of Sale
and agreed to as consideration for Seller's execution and delivery of the Contract. The
Independent Contract Consideration is in addition to, and independent of any other consideration
or payment provided in this Contract, is non-refundable, and shall be retained by Seller
notwithstanding any other provision of this Contract.
2.04 Effective Date. The effective date of this Contract shall be the date this Contract is
received by the Buyer after the same has been executed by the Seller.
ARTICLE III
TITLE ,��.�� SURVEY
3.01 Title Commitment.
(a) Within twenty (20) calendar days after the Effective Date, Buyer shall cause to be
furnished to Buyer a current Commitment for Title Insurance ("Title Commitment") for
the Property, issued by Title Company. The Title Commitment shall set forth the state of
title to the Property, including a list of liens, mortgages, security interests, encumbrances,
pledges, assignments, claims, charges, leases (surface, space, mineral, or otherwise),
conditions, restrictions, options, severed mineral or royalty interests, conditional sales
contracts, rights of first refusal, restrictive covenants, exceptions, easements (temporary
or permanent), rights-of-way, encroachments, or any other outstanding claims, interests,
estates or equities of any nature.
(b) Along with the Title Commitment, Buyer shall also cause to be delivered to Buyer, at
Buyer's sole cost and expense, true and correct copies of all instruments that create or
evidence Exceptions ("Exception Documents"), including those described in the Title
Commitment as exceptions to which the conveyance will be subject and/or which are
required to be released or cured at or prior to Closing.
(c) Within seven (7) days of Buyer's receipt of the Title Commitment and Exception
Documents, Buyer (or the Title Company on behalf of Buyer) shall provide the Seller
with true and correct copies of the Title Commitment and Exception Documents.
3.02 Survey. Within thirty (30) calendar days after the Effective Date, Buyer shall cause to be
prepared at Buyer's expense, a current on the ground survey of the Property ("Survey"). The
contents of the Survey shall be prepared by a surveyor selected by Buyer and shall include the
matters prescribed by Buyer, which may include but not be limited to, a depiction of the location
of all roads, streets, easements and rights of way, both on and adjoining the Property, water
courses, 100 year flood plain, fences and improvements and structures of any kind and other
matters provided in items 1-4, 6a, 7a, 8, 11,13,16, 18, and 19 of Table A of the ALTA Minimum
Standard Detail Requirements. The Survey shall describe the size of the Property, in acres, and
contain a metes and bounds description thereof. Seller shall furnish or cause to be furnished any
affidavits, certificates, assurances, and/or resolutions as required by the Title Company in order
to amend the suryey exception as required by Section 3.05, below. The description of the
Property as set forth in the Survey, at the Buyer's election, shall be used to describe the Property
in the deed to convey the Property to Buyer and shall be the description set forth in the Title
Page 2 of 18 — Contract of Sale
Policy. Notwithstanding the Survey of the Property, the Purchase Price for the Property, as
prescribed by Section 2.01, above, shall not be adjusted in the event the Survey shall determine
the Property to be either larger or smaller than that depicted in Exhibit "A", attached hereto.
Within seven (7) days of Buyer's receipt of the Survey, Buyer (or the Title Company on behalf
of Buyer) shall provide the Seller with a true and correct copy of the Survey.
3.03 Permitted Exceptions. Any and all liens, mortgages, security interests, encumbrances,
pledges, assignments, claims, charges, leases (surface, space, mineral, or otherwise), conditions,
restrictions, options, severed mineral or royalty interests, conditional sales contracts, rights of
first refusal, restrictive covenants, exceptions, easements (temporary or permanent), roads,
streets, rights-of-way, encroachments, water courses, 100 year flood plain, fences and
improvements and structures of any kind, or any other outstanding claims, interests, estates or
equities of any nature shown on the Commitment and/or Survey as of the expiration of the
Absolute Review Period (as defined below) shall constitute "Permitted Exceptions" to the
conveyance and warranty of title in the deed to be executed by Seller to Buyer at Closing.
ARTICLE IV
FEASIBILITY REVIEW PERIOD
4.01 Review Period. Any term or provision of this Contract notwithstanding, the obligations
of Buyer specified in this Contract are wholly conditioned on Buyer's having determined, in
Buyer's sole and absolute discretion, during the period commencing with the Effective Date of
this Contract and ending sixty (60) calendar days thereafter ("Absolute Review Period"), based
on such title examination, survey review, appraisals, tests, examinations, studies, investigations
and inspections of the Property the Buyer deems necessary or desirable, including but not limited
to studies or inspections to determine the existence of any environmental hazards or conditions,
performed at Buyer's sole cost, that Buyer finds the Property suitable for Buyer's purposes.
Buyer is granted the right to conduct engineering studies of the Property, and to conduct a
physical inspection of the Property, including inspections that invade the surface and subsurface
of the Property; provided, however, Buyer shall not allow and shall have an affirmative duty to
take all action necessary to protect and defend the Seller and the Property from and against
mechanic's liens or other claims that may be filed on or asserted against the Seller or Property by
contractors, subcontractors, or materialmen performing such work for Buyer and from all
liabilities, claims, demands, or costs (including reasonable attorney's fees) made by reason of
Purchaser's inspections, tests, and investigations. The foregoing covenant and agreement shall
survive the closing of the sale contemplated by this Contract and/or the termination of this
Contract. If Buyer determines, in its sole judgment, that the Property is not suitable, for any
reason, for Buyer's intended use or purpose, the Buyer may terminate this Contract by written
notice to the Seller, as soon as reasonably practicable, but in any event prior to the expiration of
the Absolute Review Period, in which case the Earnest Money will be returned to Buyer, less the
independent consideration, and except as otherwise provided for in this Contract, neither Buyer
nor Seller shall have any further duties or obligations hereunder. In the event Buyer elects to
terminate this Contract pursuant to the terms of this Article IV, Section 4.01, Buyer will provide
to Seller copies of any and all reports and studies obtained by Buyer during the Absolute Review
Period.
Page 3 of 18 — Contract of Sale
ARTICLE V
REPRESENTATIONS, WARRANTIES, COVENANTS AND
AGREEMENTS
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 Exhibit "B," Seller and 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
Seller that the Property has a particular iinancial 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 Property'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 nature 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), 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 approval of this 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," "WHERE IS" and "WITH ALL FAULTS." Purchaser or anyone claiming by, through or
under Purchaser, hereby fully releases Seller, Seller's employees, officers, representatives,
Page 4 of 18 — Contract of Sale
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 related to
any conditions affecting the Property. Purchaser 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 Seller shall be a covenant running with
the Property and shall be binding upon Purchaser.
It is understood and agreed that the 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
the foregoing:
• There are no defaults under any existing mortgages secured by the subject tract 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 result in the termination of such access; and
• 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, materialmen'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 from and 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. This indemnity, TO THE EXTENT IT IS
PERMITTED BY LAW, survives the closing of this transaction.
If prior to the closing date Seller discovers one or more of such representations to be
untrue or 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
Page 5 of 18 — Contract of Sale
of an untruth or inaccuracy and fails to reveal that knowledge to Purchaser prior to the closing.
Notwithstanding the immediately 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 10 days after seller's delivery of
notice to purchaser, Purchaser may terminate this contract and all earnest monies previously
deposited with the title company shall be immediately returned to Purchaser.
Notwithstanding anything to the contrary contained in this Contract, all representations,
warranties, covenants and agreements of Seller and Buyer contained in this Contract shall
survive the Closing, and shall not, in any circumstance, be merged with the Special Warranty
Deed, as described in Article VII, Section 7.02(a).
ARTICLE VI
CONDITIONS PRECEDENT TO PERFORMANCE
6.01 Performance of Seller's Obligations. Buyer is not obligated to perform under this
Contract unless, within the designated time periods, Seller has performed, furnished, or caused to
be furnished to Buyer all items required to be so performed or furnished under other sections of
this Contract.
6.02 Breach of Seller's Representations, Warranties, Covenants and Agreements. Buyer
is not obligated to perform under this Contract unless all representations, warranties, covenants
and agreements of Seller contained in this Contract are true and correct or have been performed,
as applicable, as of the Closing Date, except where specific reference is made to another date.
6.03 Adverse Change. Buyer is not obligated to perform under this Contract, if on the date of
Closing, any portion of the Property has been condemned by an entity other than Buyer, or is the
subject of condemnation, eminent domain, or other material proceeding initiated by an entity
other than Buyer.
6.04 Review Period. Buyer is not obligated to perform under this Contract if Buyer delivers
timely notice to Seller pursuant to Article IV, Section 4.01 that Buyer has determined that the
Property is unsuitable to or for Buyer's purposes.
6.05 Right to Waive Conditions Precedent. Notwithstanding anything contained in this
Contract to the contrary, Buyer or Seller may elect to waive any of the conditions precedent to
the performance of its respective obligations under this Contract by closing on this transaction
anytime on or before the Closing Date.
6.06 Termination if Conditions Precedent Not Satisfed or Waived. If any of the
conditions precedent to the performance of Buyer's or Seller's obligations under this Contract
have not been satisfied, then the other party may, by giving written notice to non-satisfying
party, terminate this Contract. On termination, the Earnest Money shall be immediately returned
or released by the Title Company less the Independent Consideration. Each party shall, on
proper written request from the other; promptly issue the instructions necessary to instruct the
Title Company to return or release the Earnest Money, less the Independent Consideration, and,
thereafter, except as otherwise provided in this Contract, Buyer and Seller shall have no further
Page 6 of 18 — Contract of Sale
obligations under this Contract, one to the other,
ARTICLE VII
CLOSING
7.01 Date and Place of Closing. The Closing (herein so called) shall take place in the offices
of the Title Company and shall be accomplished through an escrow to be established with the
Title Company, as escrowee. The Closing Date (herein sometimes called), shall be thirty (30)
calendar days after the end of the Absolute Review Period, unless otherwise mutually agreed
upon by Buyer and Seller.
7.02 Items to be Delivered at the Closing.
(a) Seller. At the Closing, Seller shall deliver or cause to be delivered to Buyer or the Title
Company, at the expense of the party designated herein, the following items:
(i) The Special Warranty Deed in the form as attached hereto as Exhibit "B", subject
only to the Permitted Exceptions, if any, duly executed by Seller and
acknowledged; and
(ii) Other items reasonably requested by the Title Company as administrative
requirements for consummating the Closing
(b) Buver• At the Closing, Buyer shall deliver to Seller or the Title Company, the following
items:
(i) The sum required by Article II, Section 2.O1, less the Earnest Money in the form
of a check or cashier's check or other immediately available funds;
(ii) Other items reasonably requested by the Title Company as administrative
requirements for consummating the Closing; provided that Buyer shall be under
no duty to make any covenants, warranties, representations, or agreements to the
Seller or Title Company which are not expressly set out herein.
7.03 Possession at Closing. Possession of the Property shall be delivered to Buyer at Closing
following the funding of the net sales proceeds due to Seller in accordance with this Contract.
7.04 Costs of Closing. Each party is responsible for paying the legal fees of its counsel, in
negotiating, preparing, and closing the transaction contemplated by this Contract. Seller is
responsible for paying fees, costs and expenses expressly identified herein as being the
responsibility of Seller. Buyer is responsible for paying all other fees, costs and expenses related
to Closing.
ARTICLE VIII
DEFAULTS AND REMEDIES
Page 7 of 18 — Contract of Sale
8.01 Seller's Defaults and Buyer's Remedies.
(a) Seller's Defaults. Seller is in default under this Contract on the occurrence of any one or
more of the following events:
(i) Any of Seller's representations contained in this Contract are untrue on the
Closing Date; or
(ii) Seller fails to meet, comply with or perform any covenant, agreement, condition
precedent or obligation on Seller's part required within the time limits and in the
manner required in this Contract; or
(iii) Seller fails to deliver at Closing, the items specified in Article VII, Section
7.02(a) of this Contract for any reason other than a default by Buyer or
termination of this Contract by Buyer pursuant to the terms hereof prior to
Closing.
(b) Buyer's Remedies. If Seller is in default under this Contract, Buyer as Buyer's remedies
for the default, may, at Buyer's sole option, do either one of the following mutually
exclusive remedies:
(i) Terminate this Contract by written notice delivered to Seller in which event the
Buyer shall be entitled to a return of the Earnest Money less the Independent
Consideration, and Seller shall, promptly on written request from Buyer, execute
and deliver any documents necessary to cause the Title Company to return to
Buyer the Earnest Money; or
(ii) Enforce specific performance of this Contract against Seller, requiring Seller to
convey the Property to Buyer subject to no liens, encumbrances, exceptions, and
conditions other than those shown on the Title Commitment and Survey as of the
expiration of the Absolute Review Period.
8.02 Buyer's Default and Seller's Remedies.
(a) Buyer's Default. Buyer is in default under this Contract
(i) Any of Buyer's representations contained in this Contract are untrue on the
Closing Date; or
(ii) Buyer fails to meet, comply with or perform any covenant, agreement, condition
precedent or obligation on Buyer's part required within the time limits and in the
manner required in this Contract; or
(iii) Buyer fails to deliver at Closing, the items specified in Article VII, Section
7.02(b) of this Contract for any reason other than a default by Seller under this
Contract or termination of this Contract by Buyer pursuant to the terms hereof
Page 8 of 18 — Contract of Sale
prior to Closing.
(b) Seller's Remedy. If Buyer is in default under this Contract, Seller, as Seller's sole and
exclusive remedy for the default, may, at Seller's sole option, do either one of the
following mutually exclusive remedies:
(i) Terminate this Contract by written notice delivered to Buyer in which event the
Seller shall be entitled to a release of the Earnest Money and the Independent
Consideration, and Buyer shall, promptly on written request from Seller, execute
and deliver any documents necessary to cause the Title Company to return to
Seller the Earnest Money and Independent Consideration; or
(ii) Enforce specific performance of this Contract against Buyer requiring Seller to
convey the Property to Buyer subject to no liens, encumbrances, exceptions, and
conditions other than those shown on the Title Commitment and Survey as of the
expiration of the Absolute Review Period.
ARTICLE IX
MISCELLANEOUS
9.01 Notice. All notices, demands, requests, and other communications required hereunder
shall be in writing, delivered, unless expressly provided otherwise in this Contract, by telephonic
facsimile, by hand delivery or by United States Mail, and shall be deemed to be delivered and
received, upon the earlier to occur of (a) the date provided if provided by telephonic facsimile or
hand delivery, and (b) the date of the deposit of, in a regularly maintained receptacle for the
United States Mail, registered or certified, return receipt requested, postage prepaid, addressed as
follows:
SELLER:
Denton County, Texas
c/o County Judge
110 W. Hickory Street, 2°d Floor
Denton, Texas 76201
Copies to:
For Seller:
BUYER:
City of Denton
Paul Williamson
Real Estate and Capital Support
901-A Texas St.
Denton, Texas 76209
Fax: (940) 349-8951
For Bu.�
Mr. Alex Payne/ Everette Newland Larry Collister, Deputy City Attorney
Axis Realty Group/Newland Real Estate City Attorney's Office
1517 Centre Place Drive, Suite 250 215 E. McKinney St.
Denton, Texas 76205 Denton, Texas 76201
Fax: (940) 382-7923
Page 9 of 18 — Contract of Sale
9.02 Governing Law and Venue. This Contract is being executed and delivered and is
intended to be performed in the State of Texas, the laws of Texas governing the validity,
construction, enforcement and interpretation of this Contract. THIS CONTRACT IS
PERFORMABLE 1N, AND THE EXCLUSIVE VENUE FOR ANY ACTION BROUGHT
WITH RESPECT HERETO, SHALL LIE 1N DENTON COUNTY, TEXAS.
9.03 Entirety and Amendments. This Contract embodies the entire agreement between the
parties and supersedes all prior agreements and understandings, if any, related to the Property,
and may be amended or supplemented only in writing executed by the party against whom
enforcement is sought.
9.04 Parties Bound. This Contract is binding upon and inures to the benefit of Seller and
Buyer, and their respective devisees, heirs, successors and assigns. If requested by Buyer, Seller
agrees to execute, acknowledge and record a memorandum of this Contract in the Real Property
Records of Denton County, Texas, imparting notice of this Contract to the public.
Notwithstanding anything to the contrary set forth herein, if a memorandum of Contract is filed
in the Real Property Records of Denton County, Texas, in the event of any termination of this
Contract by either party hereto, and as an express precondition of the Buyer's rights of
termination hereunder, the Buyer shall execute and file in the Real Property Records of Denton
County, Texas, a Release of inemorandum of Contract in a form acceptable to the Seller.
9.05 Risk of Loss. If any condemnation or any eminent domain proceedings are threatened or
initiated by an entity or party other than Buyer that might result in the taking of any portion of
the Property, Buyer may, at Buyer's option, do either one of the following mutually exclusive
remedies:
(a) Terminate this Contract and withdraw from this transaction without cost, obligation or
liability, in which case the Earnest Money shall be immediately returned to Buyer less the
Independent Consideration; or
(b) Consummate this Contract, in which case Buyer, with respect to the Property, shall be
entitled to receive in the case of eminent domain, all proceeds paid for the Property
related to the eminent domain proceedings.
It is expressly agreed between the parties that the risk of loss relating to any dwelling or
improvements located on the Property shall lie with the Buyer, and that the proceeds of any
insurance for a casualty loss occurring on or before the Closing Date shall remain the property of
the Seller. Both parties agree that any damages to the improvements located on the Property,
regardless of extent, shall not constitute a material part of the Property for purposes of the
Vendor and Purchaser Risk Act, Section 5.007 of the Texas Property Code.
9.06 Further Assurances. In addition to the acts and deeds recited in this Contract and
contemplated to be performed, executed and/or delivered by Seller and Buyer, Seller and Buyer
agree to perform, execute and/or deliver, or cause to be performed, executed and/or delivered at
the Closing or after the Closing, any further deeds, acts, and assurances as are necessary to
consummate this transaction in accordance with the express terms of this Contract.
Page 10 of 18 — Contract of Sale
Notwithstanding anything to the contrary contained in this Contract and without limiting the
general application of the provisions of Section 5.03, above, the provisions of this Article IX,
Section 9.06 shall survive Closing.
9.07 Time is of the Essence. It is expressly agreed between Buyer and Seller that time is of
the essence with respect to this Contract.
9.08 Exhibits. The Exhibits which are referenced in, and attached to this Contract, are
incorporated in and made a part of, this Contract for all purposes.
9.09 Contract Execution. This Contract of Sale may be executed in any number of
counterparts, all of which taken together shall constitute one and the same agreement, and any of
the parties hereto may execute this Agreement by signing any such counterpart.
9.10 Business Days. If the Closing Date or the day of performance required or permitted
under this Contract falls on a Saturday, Sunday or Denton County holiday, then the Closing Date
or the date of such performance, as the case may be, shall be the next following regular business
day.
9.11 Brokerage Fees. At Closing, Seller shall pay any and all professional service fees or
brokerage commissions due under a separate written agreement.
f:������m��c� tl�r� �,,.�r.��� � �I��� �1" ���`���°�� 2016.
BUYER:
CITY OF DENTON, �i ���4.� M.�
��
. "�� .�� �'�� „��
By• �,.�M. ���,��,�. .M _. ""� �,�" .�M��....,.
C��«�M�� C. Campbell, WCity N"��������µ
ATTEST:
J���.��.�%° Walters, City �+������t�i�°�
�� �
�
�� �
BY� �. _ _� � � ���° �� � ..'"�,�'
� �
Executed ��7 m��� :..��... day of ���.� � � n..�,. �..�... _���...�.........2016,
APPROVED AS TO LEGAL FORM:
ANITA BURGESS, (:"�°�'�'� A" ��"(����,� -�,�F�����
BY� .. .�._.__ __�_ww.
Page 11 of 18 — Contract of Sale
SELLER:
DENTON COUNTY, TEXAS
� �
� ����� � � �
By. ... ::� � � ��^ � .
1`w�[����� Horn, County ' � ��
ATTEST: �, ; � ��� �' ��� � �.
Denton County Clerk �'� ��9� � � , ��"�
�t, .
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f"� �� ��� �,".
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�.���"i �� ���` �, ��w��c�m��c��� ��`t�� �+.� `�.�����'��: ` a���������i� �°������::�
� ����ru�, r�,�,�9=.
On the ������� c�ay of ��,� �� e Trc _w� , 2016, the City of Denton received the
fully executed Contract of Sale from �:,� �t�a�� t:"��.r���y,
JENNIFER WALTERS CITY SECRETARY
` ��
By, ��� „ �
��
Page 12 of 18 — Contract of Sale
RECEIPT OF AGREEMENT BY TITLE COMPANY
By its execution below, Title Company acknowledges receipt of an executed copy of this
Contract. Title Company agrees to comply with, and be bound by, the terms and provisions of
this Contract to perform its duties pursuant to the provisions of this Contract and comply with
Section 6045(e) of the Internal Revenue Code of 1986, as amended from time to time, and as
further set forth in any regulations or forms promulgated thereunder.
T'ITLE COMPANY:
Urbina Law and Title
620 W. Hickory St.
Denton, Texas 76201
:
Printed Name:
Title:
Contract receipt date: _ _ , 2016
Page 13 of 18 — Contract of Sale
EXHIBIT ��A"
to
Contract of Sale
Legal Description
METES 8� BOUNDS DESCRIPTION
BEING a 1.083 acre tract of land situated in the B.B.B. & C. Railroad Company Survey, Abstract Number 185, City of Denton,
Denton ���s�n�� °N`�a���, �r�ti+� ��b�ti� kn��r��� ����� r�ff tN�r���� �fl�r��t� a�k` �t�ga� d�+s��ibed in a Deed to Da,����t� C��u�a��d��, '���x��, �as recorded in
Volume ���, i��g� ,� ��� �� tb��� I���� 62ro��n°�I� �a�f C��a���u�a� �'��a��u���y ����� a�r�r��ll part of that tract of ��rfl�a� ��c��:�p•ih�w�9 hr� ����ed to Denton
County, ��;�x�ro�, �� ���a��a����c9 R'�� 1f�9�a�r°a�� ��� q��„a,y� ���� r�� Rf�� C�����9 f���crrc9s� of Denton County, �'��;��, �ru?� �����a� f�i��ac� known as all
of Lots � , ;�, �, 7 �rua�i � �up�d �r�at; a€ La��� ""���, � � �ap�r� E� ��u�l „�a g��r�k �� C��rr�a°r�����:Mal Street, per the M�� �°��" �����"� �,�,9cRd�H�r�� �s recorded in
Volume s�„ R��������, ��t+��' kN�p� 1��r�„r� Y��a°�i����p� �rf fl�����i��r� 4��a��rro�y, ���rw�,, �r�� k��;��p�g more particularly �c:���rpb�� ��� ^��tl6�wr��:
BEGINNING at an 'X' cut in concrete set for corner at the intersection of the North line of McKinney Street, a 60' wide right-of-
way, with the East line of Oakland Street, a 40' wide right-of-way, said point being the occupied Southwest comer of the above cited
Lot 1;
THENCE North 00.10'30" West (North- CaII) along the East line of said Oakland Street, for a distance of 250.00 feet (250'- Call) to a
5/8 inch iron rod with cap stamped "TNP" set for the Northwest comer of said Lot 8;
THENCE South 87"53'36" East (East- Ca//) along the North line of said Lot 8, for a distance of 150.00 feet (150'- Call) to a 5/8 inch
iron rod with cap stamped "TNP" set for corner in the East line of said Commercial Street, said point being the Northwest corner of
Lot 10 per said Map of Geer's Addition;
THENCE South 00.10'30" East (South - Cal!) along the East line of said Commercial Street, passing the Southwest corner of said
Lot 10 and the Northwest corner of said Lot 8 at a distance of 50.00 feet, and continuing along the East line of said Commercial
Street, for a total distance of 67.01 feet to a 5/8 inch iron rod with cap stamped "TNP" set for comer, said point being the Southwest
corner of a tract of land described in a Deed to the City of Denton, as recorded in Volume 595, Page 341 of the Deed Records of
Denton County, Texas;
THENCE South 87.53'36" East (East - Ca!!) departing the East line of said Commercial Street, and along the South line of said City
of Denton tract, for a distance of 70.11 feet (70. 12' - Cal/) to a PK nail set for the Southeast corner of said City of Denton Tract, said
point being in the East line of the above cited Denton County tract recorded in Volume 586, Page 459;
THENCE South 01.40'19" West (Soufh- Call) along the East line of said Denton County tract, for a distance of 142.85 feet (143.0'-
Ca!/) to a PK nail set for the Southeast comer of same;
THENCE North 87.53'36" West (West - Call) along the South line of said Denton County tract, for a distance of 65.50 feet (65.5' -
Call) to a PK nail set for the Southwest corner of same, said point also being in the East line of said Commercial Street;
THENCE South 00.10'30" East (South- Call) along the East line of said Commercial Street, for a distance of 40.03 feet (40' - Call) to
a 5/8 inch iron rod with cap stamped "TNP" set for comer in the North line of said McKinney Street, said point being the Southwest
corner of said Lot 2;
THENCE North 87.53'36" West (West- Call) along the North line of said McKinney Street, for a distance of 150.00 feet (150'- Call) to
the POINT OF BEGINNING, and containing 1.083 acres of land, more or less.
Page 14 of 18 — Contract of Sale ��
Denton County Contract
EXHIBIT `�B"
TO
CONTRACT OF SALE
NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL
PERSON, YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE
FOLLOWING INFORMATION FROM ANY INSTRUMENT THAT
TRANSFERS AN INTEREST IN REAL PROPERTY BEFORE IT IS FILED FOR
RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER
OR YOUR DRIVER'S LICENSE NUMBER.
SPECIAL WARRANTY DEED
Denton County, a Texas political subdivision ("Grantor"), for and in
consideration of the sum of TEN AND NO/100 DOLLARS ($10.00), and other good and
valuable consideration to Grantor in hand paid by the City of Denton, a Texas home rule
municipal corporation ("Grantee"), 215 E. McKinney, Denton, Texas 76201, the receipt
and sufficiency of which are acknowledged and confessed, and subject to the Exceptions
to Conveyance and Warranty set forth below, has GRANTED, SOLD and CONVEYED,
and by these presents does GRANT, SELL and CONVEY, unto Grantee all the real
property in Denton County, Texas being particularly described on the attached Exhibit
"A", and being located in Denton County, Texas, 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 Conveyance 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 assigns to Grantee, without recourse, warranty, or representation, any and
all claims and causes of action that Grantor may have for or related to any defects in, or
injury to, the Property existing on the date of this deed, unless expressly reserved herein
or in the Contract of Sale between Grantor and Grantee.
TO HAVE AND TO HOLD the Property, together with all and singular the rights
and appurtenances thereto in anywise belonging unto Grantee and Grantee's successors
and assigns forever; and Grantor does bind Grantor and Grantor's successors and assigns
to WARRANT AND FOREVER DEFEND all and singular the Property unto Grantee
and Grantee's successors and assigns, against every person whomsoever lawfully
claiming or to claim the same or any part thereof when the claim is by, through, or under
Grantor but not otherwise, except as to the Exceptions to Conveyance and Warranty.
Grantor and Grantee expressly agree that the Property is being sold by Grantor
and purchased by Grantee "AS IS" WITH ALL FAULTS OF ANY KIND, INCLUDING
ENVIRONMENTAL FAULTS (WHETHER ABOVE, WITHIN, ON OR UNDER THE
PROPERTY), AND GRANTOR MAKES NO WARRANTIES, EXPRESSED OR
IMPLIED, AS TO THE FITNESS, ENVIRONMENTAL COMPLIANCE,
MERCHANTABILITY OR HABITABILITY OF THE PROPERTY, EXCEPT THE
WARRANTY OF TITLE SET FORTH HEREIN. GRANTOR SPECIFICALLY
DISCLAIMS ANY AND ALL WARRANTIES AND REPRESENTATIONS,
EXPRESSED OR IMPLIED, AS TO THE STATE OF THE PROPERTY, AND
PERSONAL PROPERTY TO BE CONVEYED THEREWITH, ITS CONDITION,
QUALITY, QUANTITY, CHARACTER, SIZE, DESCRIPTION OR SUITABILITY
OR FITNESS FOR ANY USE OR PURPOSE, WHETHER EXISTING OR
CONTEMPLATED, EXCEPT AS SPECIFICALLY SET FORTH IN THIS DEED.
Executed this �ITmmm __wwww� day of __ , 2016.
GR.ANTOR:
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
�... ..
_ , known to me to be the person whose name is
subscribed to the foregoing mstrument and acknowledged to me that he/she executed the
same for the purposes and consideration therein expressed.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this
� 2016.
MY COMMISSION EXPIRES:
Upon Filing Return To:
The City of Denton-Engineering
Attn: Paul Williamson
901-A Texas Street
Denton, TX 76209
NOTARY PUBLIC, STATE OF TEXAS
PRINTED NAME OF NOTARY
day of
Property Tax Bills To:
City of Denton Finance Department
215 E. McKinney Street
Denton, Texas 76201
Exhibit "A"
To
Special Warranty Deed
Legal Description
METES 8L BOUNDS DESCRIPTION
BEING a 1.083 acre tract of land situated in the B,B,B. & C. Railroad Company Survey, Abstract Number 185, City of
Denton, Denton County, Texas, and being known as all of those tracts of land described in a Deed to Denton County,
Texas, as recorded in Volume 495, Page 270 of the Deed Records of Denton County, Texas and part of that tract of land
described in a Deed to Denton County, Texas, as recorded in Volume 586, Page 459 of the Deed Records of Denton
County, Texas, and also being known as all of Lots 1, 3, 5, 7 and 9 and part of Lots 2, 4, 6 and 8 and a part of
Commercial Street, per the Map of Geer's Addition, as recorded in Volume Q, Page 86 of the Deed Records of Denton
County, Texas, and being more particularly described as follows:
BEGINNING at an ' X' cut in concrete set for corner at the intersection of the North line of McKinney Street, a 60' wide
right-of-way, with the East line of Oakland Street, a 40' wide right-of-way, said point being the occupied Southwest comer
of the above cited Lot 1;
THENCE North 00.10'30" West (North- CaIQ along the East line of said Oakland Street, for a distance of 250.00 feet (250'-
Call) to a 5/8 inch iron rod with cap stamped "TNP" set for the Northwest comer of said Lot 8;
THENCE South 67"53'36" East (East- Call) along the North line of said Lot 8, for a distance of 150.00 feet (150'- Cal1J to a
5/8 inch iron rod with cap stamped "TNP" set for corner in the East line of said Commercial Street, said point being the
Northwest corner of Lot 10 per said Map of Geer's Addition;
THENCE South 00.10'30" East (South - Ca/I) along the East line of said Commercial Street, passing the Southwest corner
of said Lot 10 and the Northwest corner of said Lot 8 at a distance of 50.00 feet, and continuing along the East line of said
Commercial Street, for a total distance of 67.01 feet to a 5/8 inch iron rod with cap stamped "TNP" set for comer, said
point being the Southwest corner of a tract of land described in a Deed to the City of Denton, as recorded in Volume 595,
Page 341 of the Deed Records of Denton County, Texas;
THENCE South 87.53'36" East (East- Ca//) departing the East line of said Commercial Street, and along the South line of
said City of Denton tract, for a distance of 70.11 feet (70. 12' - Call) to a PK nail set for the Southeast corner of said City of
Denton Tract, said point being in the East line of the above cited Denton County tract recorded in Volume 586, Page 459;
THENCE South 01.40'19" West (South- Cal/) along the East line' of said Denton County tract, for a distance of 142.85 feet
(143.0'- Call) to a PK nail set for the Southeast comer of same;
THENCE North 87.53'36" West (West - Call) along the South line of said Denton County tract, for a distance of 65.50 feet
(65.5' - Call) to a PK nail set for the Southwest corner of same, said point also being in the East line of said Commercial
Street;
THENCE South 00.10'30" East (Soufh- Call) along the East line of said Commercial Street, for a distance of 40.03 feet
(40' - Call) to a 5/8 inch iron rod with cap stamped "TNP" set for comer in the North line of said McKinney Street, said
point being the Southwest corner of said Lot 2;
THENCE North 87.53'36" West (West- Cal1J along the North line of said McKinney Street, for a distance of 150.00 feet
(150'- Call) to the POINT OF BEGINNING, and containing 1.083 acres of land, more or less.
�i� �s`��,4w�i
l$) i��l�lii� � ` � i � � §� ��
I,,
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
August 24, 2016
City of Denton, a Texas Home Rule Municipal Corporation
c/o Paul Williamson
901-A Texas Street
Denton, TX 76209
RE: Order No.: 16-250503-DU
Buyer/Borrower(s): City of Denton, a Texas Home Rule Municipal Corporation
Sellers(s): Denton County, Texas, a Political Subdivision of the State of
Texas
Property Address; 301 E. Mckinney Street, 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. 16-250503-DU
OTP Transmittal Page 1 of 1 Rev. 01/06
Policy No.: TXT11171462
OWNER'S POLICY OF TITLE INSURANCE (T-1)
Issued by
FIRST NATIONAL TITLE INSURANCE 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 18 of the Conditions.
COVERED RISKS
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B
AND THE CONDITIONS, First National Title Insurance Company, a Texas corporation (the "Company") insures, as of Date of
Policy and, to the extent stated in Covered Risks 9 and 10, 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.
COVERED RISKS Continued on next page
IN WITNESS WHEREOF, FIRST NATIONAL TITLE INSURANCE COMPANY has caused this policy to be signed and sealed as
of the Date of Policy shown on Schedule A.
ISSUED BY:
Capital Title of Texas, LLC
���� � 4 ��. � t � wi P
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� �
By Authorized Signatory
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r � .;
� f { ._
,�" �� " �� s, � �
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�,ta�a.'� � ��� P �,rl ��� ��°� � � �.��
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v� �,�f����'"�� ��*�`-� .
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fW4dp�i�r�������� �����. ����g F ��mt7� ��9 Cai���ar
FORM T-1: Owner's Policy of Title Insurance (For Use Only in Texas) Effective 1/3/2014
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 avoidance 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
similar creditors' rights laws; or
(b) 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 attached 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 extent provided in the Conditions.
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) "Insured": the Insured named in Schedule A.
FORM T-1: Owner's Policy of Title Insurance (For Use Only in Texas) Effective 1/3/2014
, (i), The term "Insured" also 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 Entiry;
(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 wholly owns the named Insured,
(3) If the grantee is wholly-owned by an affiliated 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 against any predecessor Insured.
(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": mortgage, 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.
(j) "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 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 loan 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,
FORM T-1: Owner's Policy of Title Insurance (For Use Only in Texas) Effective 1/3/2014
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 Sections 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 INSURED 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 whatever 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 should 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.
�. 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 the 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.
FORM T-1: Owner's Policy of Title Insurance (For Use Only in Texas) Effective 1/3/2014
, 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 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 provision, or to any other controversy or claim arising out of the
transaction giving rise to this policy. All arbitrable matters when the Amount of Insurance 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 Amount 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.
FORM T-1: Owner's Policy of Title Insurance (For Use Only in Texas) Effective 1/3/2014
(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 therefore 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.
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: First National Title Insurance Company, 2400 Dallas Parkway, Ste. 580, Plano, TX 75093.
FORM T-1: Owner's Policy of Title Insurance (For Use Only in Texas) Effective 1/3/2014
1 ■ �1 � '. �
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Name and Address of Title Insurance Company:
FIRST NATIONAL TITLE INSURANCE COMPANY
2400 Dallas Parkway, Suite 580, Plano, 75093
File No.: 16-250503-DU
Address for Reference only: 301 E. Mckinney Street, Denton, TX 76201
Amount of Insurance: $1,000,000.00
Date of Policy: July 1, 2016, at 03:10 pm
1. Name of Insured: City of Denton, a 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 Munic►pal Corporation
Policy No.: TXT11171462
Premium: $6,74015
Form T-1: Owner's Policy of Title Insurance Rev (1/3/2014) Page 1
4. T'he land referred ta in this policy is described as follows:
BEING a 1.083 acre tract of land, more or less, situated in the B.B.B. & C. Railroad Company Survey, Abstract
Number 185, City of Denton, Denton County, Texas, and being known as all of those tracts of land described in a
Deed to Denton County, Texas, as recorded in Volume 495, Page 270 of the Deed Records of Denton County, Texas
and part of that tract of land described in a Deed to Denton County, Texas, as recorded in Volume 586, Page 459 of
the Deed Records of Denton County, Texas, and also being known as all of Lots 1, 3, 5, 7 and 9 and part of Lots 2, 4, 6
and 8 and a part of Commercial Street, per the Map of Geer°s Addition, as recorded in Volume Q, Page 86 of the Deed
Records of Denton County, Texas, and being more particnlarly described as follows:
BEGINNING at an "X" cut in concrete set for corner at the intersection of the North line of McKinney Street, a 60'
wide right-of-way, with the East line of Oakland Street, a 40' wide right-of-way, said point being the occupied
Southwest corner of the above cited Lot 1;
THENCE North 00°10'30°' West (North - Call) along the East line of said Oalcland Street, for a distance of 250.00 feet
(250° - Call) to a 5/8 inch iron rod with cap stamped "TNP" set for the Northwest corner of said Lot 8;
THENCE Soath 87°53'36" East (East - Call) along the North line of said Lot 8, for a distance of 150.00 feet (150° -
call) to a 5/8 inch iron rod with cap stamped "TNP" set for comer in the East line of said Commercial Street, said
point being the Northwest corner of Lot 10 per said Map of Geer°s Addition;
THENCE South 00°10'30" East (South - Call) along the East line of said Commercial Street, passing the Southwest
corner of said Lot 10 and the Northwest corner of said Lot 8 at a distance of 50.00 feet, and continuing along the East
line of said Commercial Street, for a total distance of 67.01 feet to a 5/8 inch iron rod with cap stamped "TNP" set for
comer, said point being the Southwest corner of a tract of land described in a Deed to the City of Denton, as recorded
in Volume 595, Page 341 of the Deed Records of Denton County, Texas;
THENCE South 87°53'36" East (East - Call) departing the East line of said Commercial Street, and along the South
line of said City of Denton tract, for a distance of 70.11 feet (70.12' - call) to a PK nail set for the Southeast corner of
said City of Denton Tract, said point being in the East line of the above cited Denton County tract recorded in Volume
586, Page 459;
THENCE South O1°40'19" West (South - Call) along the East line of said Denton County tract, for a distance of
142.85 feet (143.0' - Call) to a PK nail set for the Southeast corner of same;
THENCE North 87°53'36" West (West - Call) along the South line of said Denton County tract, for a distance of 65.50
feet (65.5' - Call) to a PK nail set for the Southwest corner of same, said point also being in the East line of said
Commercial Street;
THENCE South 00°10'30" East (South - Call) along the East line of said Commercial Street, for a distance of 40.03
feet (40' - Call) to a 5/8 inch iron rod with cap stamped'°TNP" set for corner in the North line of said McKinney
Street, said point being the Southwest corner of said Lot 2;
THENCE North 87°53°36°' West (West - Call) along the North line of said McKinney Street, for a distance of 150.00
feet (150' - Call) to the POINT OF BEGINNING, and containing 1.083 acres of land, more or less.
;1 ' ' ! 1 ' • �
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File No.: 16-250503-DU Policy No.: TXT11171462
C I NS C VE G
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 the leases and easements, if any, shown in Schedule A, and the following matters:
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2. ,�r-t'�-�i-r�������rey��;-��€���(�+c.=�;�r�'shartages in area ��13t��i3��i�i� 1��7��;;-��-���-e���:�-��:c�l�►7�+���-��{�i�-���i���is,-ca����-�-��t����ir��-
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4. Any titles or rights asserted by anyone, including but not limited to, persons, the public, corporations, gavernments ar ather
entities,
(a) to tidelands, or lands comprising the shores or beds of navigable or perennial rivers and streams, lakes, bays, gulfs or
oceans, or
(b) to lands beyond the line of the harbor or bullchead lines as established or changed by any gove ent, or
(c} to filled-in lands, or artificial islands, or
(d) to statutory water rights, including riparian rights, ar
(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 acrass that area.
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(a) All leases, grants, exceptions or reservations of coal, lignite, oil, gas and other minerals, together with all
rights, priviieges and fmmuaities relating thereto, appearing In the Public Records whether listed in Scheduie
B or not. There may be leases, grants, exceptions or reservations of mineral interest that are nat listed.
Form T-1: Owner's Policy of Title Insurance ev (1/3/2014) Page 3
Continuation of Schedule B
(b) Rights of parties in possession.
(c) Rights of tenants, as tenants only, under unrecorded leases or rental agreements.
Policy Na. TXT11171462
(d) Any and all utility lines which may be in, on, along or under the abandoned right-of-way of Commercial
Street.
(e) Rights, titles and interest of any owner or lienholder, their respective heirs, successors and/or assigns, in and
to community walks and driveways, and as shown, in full or in part, on survey prepared by survey prepared
by Todd B. Turner, R.P.L.S. No. 4859, dated March 16, 2016.
(� Reverter Rights in favor of the City of Denton, Texas, contained in Warranty Deed, dated May 27, 1969, �led
June 16, 1969, recorded in Volume 586, Page 459, Real Property Records, Denton County, Texas.
(g) No liability is assumed by reason of the encroachment or protrusion of a a 8 inch concrete retaining wall, one
story wood buidling, parking area, concrete curb and gutter into or outside of the boundary line(s), as shown,
in full or in part, on a survey dated prepared by survey prepared by Todd B. Turner, R.P.L.S. No. 4859,
dated March 16, 2016.
Countersigned
Capital Title of Texas, LLC - Denton Urbina
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Authorized Si�atory
Form T-1: Owner's Policy of Title Insurance Rev(1/3/2014) Page 4
GF No. 16-250503-DU
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Premium Amownt Rate Rules Properiy County Liability Policy Date
Type Code
1 2 3 4 5 6 7 8
$6,740.15 1000 2 121 $1,000,000.00 07/Ol/2016 �
0500