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21-1953ORDINANCE NO. 21-1953 AN ORDINANCE OF THE CITY OF DENTON AUTHORIZING THE CITY MANAGER TO EXECUTE A NEW LISTING AGREEMENT WITH AXIS REALTY GROUP OF DENTON, INC. AND THE DENTON CHAMBER OF COMMERCE FOR THE SALE OF CERTAIN REAL PROPERTY AND IMPROVEMENTS COMPRISED OF A 0.449 ACRE TRACT LOCATED AT 414 WEST PARKWAY STREET, DENTON, TEXAS; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City of Denton (the "City") owns certain real property comprised of a 0.449 acre tract located at 414 W. Parkway St., Denton, Texas (the "Property"), as more specifically described and shown on Exhibit "A" to the Listing Agreement defined hereafter and attached hereto; and WHEREAS, the City and the Denton Chamber of Commerce (the "Chamber") entered into a ground lease for the Property, as amended, expiring August 31, 2048, and providing the right for the Chamber to construct a building and related improvements on the Property for its activities (the "Improvements") and to own the Improvements during the term of the Chamber Lease (the "Chamber Lease"); and WHEREAS, the Chamber Lease provides that at the end of the term of the Chamber Lease, the Chamber's ownership of the Improvements will end and the City will acquire full ownership of the Improvements free and clear of any indebtedness or obligations; and WHEREAS, pursuant to Ordinance No. 21-549, the City and the Chamber entered into a listing agreement with Axis Realty Group of Denton, Inc., a real estate broker, to list for sale the Property and Improvements, which listing agreement will expire September 30, 2021; and WHEREAS the City and the Chamber desire to enter into a new listing agreement in the form attached hereto as Attachment 1, and made a part hereof for all purposes, with Axis Realty Group of Denton, Inc., a real estate broker, to list for sale the Property and Improvements for a term expiring on March 31, 2022 (the "Listing Agreement"); and WHEREAS, the Chamber relocated its activities pursuant to a new lease with the City for space in the City's Development Services building, and intends to terminate the Chamber Lease and relinquish its remaining leasehold interest in the Chamber Lease, including its ownership in the Improvements, prior to the closing of any sale of the Property and Improvements in exchange for receiving an allocation of the proceeds from the sale of the Property and Improvements in accordance with the Listing Agreement; and WHEREAS, the Chamber entered into a separate listing agreement with Axis Realty Group of Denton, Inc., to list for sale two adjacent tracts, including a parking lot locally known as 413 West Congress St., Denton, Texas, owned by the Chamber (both tracts together herein called the "Additional Parking Tract"), which listing agreement will expire September 30, 2021, and desires to enter into a new separate listing agreement with Axis Realty Group of Denton, Inc., for the Additional Parking Tract for a term expiring on March 31, 2022; and WHEREAS, the City and Chamber desire that the Property, Improvements, and the Additional Parking Tract be marketed together for a new combined listing price of $825,000.00 pursuant to the terms of the Listing Agreement; and WHEREAS, City Council finds it is in the public interest to list the Property and Improvements for sale pursuant to the Listing Agreement; NOW, THEREFORE, THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS: SECTION 1. The findings and recitations contained in the preamble of this Ordinance are incorporated herein by reference as true and as if fully set forth in the body of this Ordinance. SECTION 2. The City Manager, or designee, is hereby authorized to execute the Listing Agreement on behalf of the City. SECTION 3. The City Manager, or designee, is further authorized to carry out all duties and responsibilities of the City pursuant to the Listing Agreement. SECTION 4. This Ordinance shall become effective immediately upon its passage and approval. The motion to approve this Ordinance was made by Q� C?,cy,. -6 "ocjSpr V- -j and LS _.. seconded by ; C V- , 17Jy C C� . The Ordinance was passed and approved by the following vote l 5 - 2-j- : Aye Nay Abstain Absent Gerard Hudspeth, Mayor: ✓ Vicki Byrd, District 1: 1/ Brian Beck, District 2: ,/ Jesse Davis, District 3: f Alison Maguire, District 4: Deb Armintor, At Large Place 5: 1/ Paul Meltzer, At Large Place 6: 1/ 2 PASSED AND APPROVED this the LASs day of 'Sc_O}-fnbe C- 12021. GERARD HUDSPETH, MAYOR ATTEST: ROSA RIOS, CITY SECRETARY 0F D s r � r r*: •*� APPROVED AS TO LEGAL FORM: 's CATHERINE CLIFTON, INTERIM CITY ATTORNEY ti o ' ,. to;* N By: DocuSign Envelope ID: A5AAD008-C315-4A34-8349-15930749B2F6 Attachment 1 Axis Realty Group NORTH TEXAS COMMERCIAL ASSOCIATION OF REALTORSO EXCLUSIVE LISTING AGREEMENT FOR SALE OR LEASE This Agreement is entered into by the undersigned owner(s) (the "Owner") and broker (the "Broker") regarding the property described as 414 W Parkway St Denton, TX 76201 in Denton County, Texas, or as may be more particularly described on any attached Exhibit "A", SURVEY AND/OR LEGAL DESCRIPTION, together with the improvements located upon the property and owned by Owner (collectively, the "Property"). Owner desires to retain the services of Broker to help Owner sell and/or lease the Property. For valuable consideration, Owner and Broker agree as follows: 1. Appointment. Owner appoints Broker as Owner's agent for the Term (defined below), upon the terms and conditions in this Agreement, with the exclusive right to list and [check all applicable boxes] ❑X sell the Property, and/or ❑ lease the Property. Broker will assist Owner in the marketing of the Property and in the negotiating of a sale or lease agreement with any prospective purchaser or tenant (the "Prospect"). Broker may carry out Broker's duties under this Agreement through Broker's sales associates and other brokers ("Cooperating Brokers"). The term "sale" as used in this Agreement includes an exchange. 2. Listing Term. The term of this Agreement (the "Term")commences on its execution and will expire on March 31, 2022 (the "Expiration Date"). Listing Price for Sale. The listing sales price of the Property is $ see Exhibit E 4. Listing Rent and Terms for Lease. The listing rental and terms of the Property for lease are: Unless Owner agrees otherwise in a written lease, Owner will pay the following expenses [check all applicable boxes]: ❑ full services provided to tenant; ❑ real estate taxes; ❑ property insurance premiums; ❑ common area maintenance; ❑ maintenance of roof, foundation and structural soundness; ❑ all utilities; []utilities except electricity; or ❑ none (absolute net lease), 5. Professional Service Fee. a. Owner agrees to pay Broker a professional service fee (the "Fee") as set forth below [check all applicable boxes]: ❑X (1) Sale. (A) Six Point Zero percent ( 6.000 %) of the Sales Price of the Property; or (B) $ . The term "Sales Price" means the gross sales price of the Property, including the value of any other property given in exchange. Owner shall pay the Fee or cause the Fee to be paid to Broker at the closing of the sale. ❑ (ii) Lease. (A) percent ( %) of the aggregate rental provided in the lease (the "Rental"); or (B) $ Owner shall pay the Fee or cause the Fee to be paid to Broker: ❑ one-half upon execution of a lease agreement and one-half upon possession of the Property by the Prospect; or If the Property is leased to a Prospect procured by a Cooperating Broker, then the Fee will be increased to 150% of the amount specified above. b. The Fee is payable in the county in which the Property is located. Execution by the Owner of a contract or lease on any price, rental or terms other than as listed in this Agreement will not preclude Broker from collecting the Fee based upon the actual price or rental. Owner will pay the Fee upon the sale, exchange, lease or transfer EXCLUSIVE LISTING AGREEMENT ©Copyright 2014 NTCAR Form No. 4 (7-22-14) _kxxis Realty Group, 212 S. Elm Street Denton TX %201 Phone: 940%912947 Fax 940.891.2948 414 W Parkway - 91es Payne Produced with #Farm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLonix.com DocuSign Envelope ID: AMA0008-C3i5-4A34-8349-15930749B2F5 of a legal or equitable interest in the Property (including a contract for deed) to a Prospect during the Term or during the Protection Period. In the event of an exchange of the Property, Broker may receive a professional service fee from each of the parties to the transaction, and the amount of the Fee paid by Owner pursuant to any exchange will be determined by the greater of the listing sales price or the agreed value of the Property as set forth in the exchange agreement. Owner authorizes any title company escrow officer, or any other person handling the closing of any transaction, to pay the Fee directly to Broker out of the proceeds at the closing. 6. Protection Period. As to transactions that close after the Expiration Date, Owner will pay the Fee to Broker upon the closing of a transaction with a Listed Prospect (defined below) if, within 180 days after the Expiration Date (the "Protection Period"), Owner: (1) executes a contract of sale or exchange; (ii) executes a lease agreement; or (iii) otherwise agrees to transfer any legal or equitable interest in the Property to a Listed Prospect. The term "Listed Prospect" means a Prospect named on a written list of Prospects with whom Broker has had contact, not to exceed 20 names, delivered to Owner within 10 days after the Expiration Date, provided Broker (or a Cooperating Broker) during the Term: (i) procured the Prospect; (ii) engaged in negotiations with the Prospect; or (iii) showed the Property to the Prospect. If there is a pending agreement to sell or lease the Property (a "Pending Transaction") between Owner and a Prospect, including a contingency contract or an option agreement, and the Pending Transaction has not been closed and funded before the Expiration Date, then this Agreement will remain in effect as to the Pending Transaction until the earlier of: (i) the Pending Transaction closes and the Fee is paid to Broker; or (ii) the Pending Transaction expires or is terminated, and is not renewed or reinstated. The prospective purchaser or tenant in any Pending Transaction will automatically be deemed to be a Listed Prospect, in addition to any that might be set forth on any list of Prospects Broker may deliver to Owner. If Owner enters into a fisting agreement with another real estate broker with respect to the Property after the Expiration Date, then Owner shall exclude the Listed Prospects from the other broker's listing agreement during the Protection Period. 7. Lease Renewal, Expansion or Sale. a. Renewal or Expansion. Owner shall pay to Broker an additional professional service Fee covering the full period of any renewal, expansion, or new lease if, pursuant to the terms of any lease executed by Owner and a Prospect for all or part of the Property (the "Lease") the Prospect, or the Prospect's successors or assigns under the Lease: (i) exercises any right to renew the term of the Lease (whether contained in the Lease or in any amendment or other agreement); (ii) enters into a new lease with Owner for all or part of the Property; or (iii) enters into any lease, expansion, renewal or other rental agreement with Owner demising to the Prospect, or the Prospect's successors or assigns, any premises or property located on or constituting any part of any parcel of property owned by Owner adjacent to the Property or in the same building or project as the premises covered by the Lease. The additional Fee will be payable to Broker on the date of possession of the premises or property (or the additional premises or property) by the Prospect, or the Prospect's successors or assigns. The additional Fee will be computed on the same basis as provided in Section 5 above as if a new lease had been made for the additional period of time and/or premises, b. Sale to Tenant. If a tenant who was a Prospect under this Agreement, or a successor or assignee, purchases the Property at any time, whether pursuant to a purchase option contained in the Lease or otherwise, then Owner shall pay to Broker, at the closing of the sale, a professional service fee in cash equal to percent ( %) of the Sales Price. 8. Owner's Representations. Owner represents to Broker and agrees as follows: a. Title. Owner: (i) is the sole fee simple owner of the Property; (ii) is authorized and has the capacity to execute and deliver this Agreement; (iii) has the right and authority to convey good and indefeasible title to the Property; and (iv) has the right and authority to sell and lease the Property. b. Legal Action. Owner shall notify Broker in writing if any actions are brought, or Owner receives any written notices pertaining to, any foreclosures, lien claims, litigation, or condemnation proceedings with respect to the Property or any part of the Property. EXCLUSIVE LISTING AGREEMENT ©Copyright 2014 NTCAR Form No. 4 (7-22-14) Produced WithzipFormg by zipLogix 18670 Fifteen Mile Road.. Fraser, Michigan 48026 www.zioLoQix.com 414 W Parkway- DocuSign Envelope ID: A5AAD008-0315-4A34-8349-15930749B2F6 dees d. Cooperation. Owner shall refer all inquiries about the Property to Broker, and Owner shall conduct negotiations with Prospects through Broker. e. Indemnity. Owner shall defend and indemnify Broker, Broker's sales associates and subagents against any liability and expense (including, but not limited to, reasonable attorney's fees) due to: (i) acts of third parties; (ii) death of, or personal injury to, any person on the Property; (iii) loss or damage to any personal or real property; (iv) vandalism, theft, accident, or casualty; (v) any incomplete, incorrect, misleading or inaccurate information furnished by Owner about the Property; (vi) concealment by Owner of any material information about the Property; and (vii) any other cause of damage or loss arising out of the marketing, showing, sale or lease of the Property, except for Broker's gross negligence or willful misconduct. f. Expenses. Owner will promptly pay, or reimburse Broker for, those expenses incurred by Broker on behalf of Owner in advertising and marketing the Property that are specifically authorized by Owner, after receipt by Owner of a written statement of the authorized expenses. 9. Cooperating Brokers. Owner authorizes Broker to cooperate with and use the services of Cooperating Brokers and their sales associates from time to time. Broker may shame a portion of the Fee with Cooperating Brokers, including Cooperating Brokers who may be acting as agents for Prospects. Owner shall pay the full amount of the Fee to Broker, and Broker may divide the Fee with Cooperating Brokers in proportions determined by Broker. 10. Broker's Authority. a. Broker will use such marketing techniques and devote such time and effort on Owner's behalf as Broker reasonably deems appropriate and necessary to attempt to achieve the timely sale or lease of the Property. Owner gives Broker the exclusive right to place advertising signs on the Property and to remove all other real estate signs. Owner authorizes Broker to list the Property in a computer network. b. Broker is authorized to enter upon the Property at reasonable times to show the Property to Prospects, Cooperating Brokers, inspectors, agents and contractors. c. Broker may use the listing information, Sales Price, Rental and terms information for Broker's market evaluation, networking and appraisal purposes, and for disclosing to other persons as Broker may deem desirable, including disclosing the information in a computer network. 11- ��. intermediefut Relations_ isr .. tteehe �- to 414S, + 4he - .a�J. r �.��—r�r,e�rr 4-2. Miscellaneous. a. Notices. Any notice under this Agreement must be in writing and will be deemed delivered on the earlier of. (i) actual receipt, if delivered in person or by messenger with evidence of delivery; (iii) upon deposit with the United States Postal Service, certified mail, return receipt requested, postage prepaid, and properly addressed to the intended recipient at the address set forth below. ❑X Owner also consents to receive any notices by email. ® Broker also consents to receive any notices by email. EXCLUSIVE LISTING AGREEMENT ©Copyright 2014 NTCAR Form No. 4 (7-2214) Produced with zipForrn® by zipLogix 16070 Fifteen Mile Road, Fraser, Michigan 48026 www.zloLogfx_com 414 W Parkway- DocuSign Envelope ID: A5AAD008-0315-4A34-9349-15930749B2F6 Either party may change its address for notice purposes by delivering written notice of its new address to the other party in the manner set forth above. b. Right to Claim a Lien. Pursuant to Chapter 62 of the Texas Property Code, Broker discloses Broker's right to claim a lien based on this Agreement. Owner will include a provision in any Lease as to which Broker is entitled to a Fee pursuant to this Agreement that confirms the agreement to pay the Fee to Broker. c. Limitation of Livability. Broker's liability for Broker's breach of this Agreement, negligence, or otherwise, is limited to the return of the Fee, if any, paid to Broker pursuant to this Agreement. d. Options. If Owner enters into an option agreement to sell or lease all or part of the Property to a Prospect during the Term or during the Protection Period, and Owner collects payments as consideration for the option, then Owner shall pay to Broker, as option payments are received, a commission (the "Option Commission") in the amount of one-third (1/3) of each option payment as compensation earned by Broker for services rendered under this Agreement. The Option Commission will be non-refundable if the Prospect does not exercise the option, but if the Prospect exercises the option then the sum of the Option Commission paid to Broker will be credited toward Owner's obligation to pay the Fee to Broker upon the sale or lease of the Property. Transfer of Interest in Owner. If Owner is a corporation, limited liability company, partnership or other entity, and the Property constitutes substantially all of the assets of Owner, then a transfer of a majority of the stock or other ownership interest in the entity will constitute a sale for purposes of this Agreement, and Owner shall pay the Fee to Broker based upon the value of the consideration given for the ownership interest transferred. This Agreement will continue in force after any such transfer, but the amount of any Fee paid to Broker as a result of any such transfer will be credited to the Fee payable to Broker upon any subsequent sale of the Property. f. Related Persons. For purposes of this Agreement, any person or entity related to a Prospect or a Listed Prospect by family or business relationship will also be deemed to be a Prospect or Listed Prospect, g. Legal Expenses. The prevailing party in any legal proceeding brought in relation to this Agreement is entitled to recover from the other party reasonable attorneys' fees, pre judgment interest as allowed by law, and costs of collection, in addition to the Fee and any other recovery the prevailing party may be entitled to receive. h. Severability. If any provision of this Agreement is found by a court to be invalid or unenforceable, then the invalid or unenforceable provision will be deemed to be deleted from this Agreement, and the remainder of this Agreement will continue to be valid and enforceable. i. Binding Effect. This Agreement is binding upon and for the benefit of the parties to this Agreement and their successors, heirs and permitted assigns. This Agreement may not be assigned by either party without the written consent of the other party. This Agreement cannot be modified or terminated except by a written agreement executed by both parties. Each party acknowledges that they have read this Agreement and have had an opportunity to review it with an attorney of their choice. j. Governing Law. This Agreement will be governed by the laws of the State of Texas. k. Description of Property. If a more accurate description of the Property is set forth in any contract or Lease executed by Owner and any Prospect, or in any survey prepared pursuant to any contract or Lease, then the more accurate description will be deemed to be incorporated in this Agreement as the description of the Property. I. Information About Brokerage Services. Owner acknowledges receipt of the Information About Brokerage Services form attached to this Agreement as Exhibit "C". EXCLUSIVE LISTING AGREEMENT ©Copyright 2014 NTCAR Form No. 4 (7-22-14) Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com 414 W Parkway- DocuSign Envelope ID: A5AAD008-C315-4A34-8349-15930749B2F6 - - - - -- - _ n. Exhibits. Any exhibits and addenda attached to this Agreement are incorporated as apart of this Agreement: Exhibit "A" - Survey and/or Legal Description Exhibit "B"-4ntaunediazy Relationship A41,,, - Drainage Easement Exhibit "C" - Information About Brokerage Services Exhthit " 90selestrre Het+ee Intentionally Omitted Exhibit E - Listing Sales Price (Allocation Spreadsheet) 11243: Special Provisions. a. The Property is being listed and sold together with certain property owned by the Denton Chamber of Commerce known locally as 413 W. Congress, Denton, Texas (the "Chamber Property") and the parties agree that the Property may not be sold apart from the Chamber Property unless agreed to in writing by the City. The Property and the Chamber Property are illustrated in Exhibit E. b. The Property is being listed and will be conveyed subject to the City's reservation of an easement as described in Exhibit B. c. Section 8.a(ii) the word "sole" shall be deemed to be deleted unless and until the Denton Chamber of Commerce has terminated its lease on the Property. Upon the termination of such lease on the Property, the Denton Chamber of Commerce shall no longer be an "Owner" under this Agreement. d. The Property is being listed and will be conveyed "AS IS, WHERE IS" and the parties to this Agreement acknowledge that the City of Denton makes no representations, disclosures or express or implied warranties with respect to the condition of the Property or of any buildings or improvements thereon. Serious Prospects and Buyers will be afforded the opportunity to conduct reasonable due diligence, including Inspections, on the Property. e. With respect to the City of Denton, Section 8,e, shall only apply to the extent permitted by applicable law and the provisions of Section 8.e, shall be subject to any limitations on the amount of liability and on the types of damages that may be awarded under applicable Texas law. f. Nothing in this Agreement shall operate as, or be construed to be, a waiver of the City of Denton's governmental immunity or of any defenses or limitations on liability the City of Denton may be afforded under Texas Law. The City of Denton retains its governmental immunity for any and all purposes in connection with this Agreement, including with respect to any and all claims and remedies. EXCLUSIVE LISTING AGREEMENT ©Copyright 2014 NTCAR Form No. 4 (7-22-14) Produced with zipForm® by zipLogix 18670 Fifteen Mile Road, Fraser, Michigan 48026 www.zioLooix.com 414 W Parkway - DocuSign Envelope ID: A5AAD008-C315-4A34-8349-15930749B2F6 This Agreement is effective on the last date beneath the signatures below. OWNER: BROKER: Uly or Denton Axis Realty Group -f npn+nn in- DowSigned by: By [Signature]: j By [Signature]: Aq. P&JkL Printed Name:"n�is'1 S I Printed Name: Alex Pa 141 soy Title: It, tx4A4 �, �[ Title: Owner 1 Broker Address: (l (S (AL V Address: 212 S Elm St n��n •�X`�� Denton, TX 76201 _ Phone: yL/' N ��1� 92-ZTelephone: (940)891-2947 Fax: 0114 V - "i - �5Cl fe, Fax: Date: I 120 I _Z0 2-1 Date: 9/10/2021 OWNER _Denton Chamber of Conimgree, ATTES DmuSigned by By [Signature]: A -U. b" CITY SECRETARY -I� OF tJENTON, TEXAS Printed Name: teff Reecer 7E°4enderson Title: Chairman of the Board Address: Phone: Fax: Date" 9/10/2021 PERMISSION TO USE: This form is provided for use by members of the North Texas Commercial Association of ReattorsO, Inc. ("NTCAR"), members of the North Texas Commercial Association of Real Estate Professionals, Inc., and other licensed users of an NTCAR electronic forms system. Permission is given to make limited copies of the current version of this form for use in a particular Texas real estate transaction. Please contact the NTCAR office to confirm you are using the current version of this form. Mass production, or reproduction for resale, is not allowed without express permission. Any changes to this form must be made in a manner that is obvious. If any words are deleted, they must be left in the form with a fine drawn through them. If changes are made that are not obvious, the person who made the change could be subject to a claim of fraud or misrepresentation for passing off an altered form as if it were the genuine NTCAR form. EXCLUSIVE LISTING AGREEMENT ©Copyright 2014 NTCAR Form No. 4 (7-22-14) Produced with z[pForm® 6y zipLog€x 18070 Fifteen Mile Road, Fraser. Michigan 48026 www.zipLoQix.com 414 w Pw-kway- DocuSign Envelope ID: A5AAD008-C315-4A34-8349-15930749B2F6 EXHIBIT "A" LEGAL DESCRIPTION BEING a 0.449 acre tract of land situated in the Robert Beaumont Survey, Abstract No. 31 and the William Neill Survey, Abstract No. 971, City of Denton, Denton County, Texas, and being known as a part of tots 6 and 8, Block 1 per the Plat of Barb's Addition, as recorded in Volume Q, Pages 136 and 137 of the Deed Records of Denton County, Texas, and also being a part of that certain tract of land described in a Warranty Deed to the City of Denton, Texas, as recorded in Volume 572, Page 262 of the Deed Records of Denton County, Texas, and being more particularly described as follows: COMMENCING at a 1/2 inch iron rod found for the Southeast comer of a called 0.258 acre tract of land described in a Deed to United Through H.O.P.E. Inc., as recorded in Document No. 2015-114949 of the Official Records of Denton County, Texas, same being the intersection of the West line of Bolivar Street (50' right-of-way) with the North line of Parkway Street (a variable width right-of-way), from which a 1/2 inch iron rod capped "RPLS 4561" found for the Northeast comer of said 0.258 acre tract bears North 00039'34" East a distance of 74.97 feet; THENCE South 88"24'42" West along the North line of said Parkway Street for a distance of 150.09 feet to a point for the Southeast comer of a called 1.37 acre tract of land described in a Deed to Adam C. Burkett, as recorded in Document No. 2004-5898 of the Official Records of Denton County, Texas; THENCE North 87044'21" West continuing along the North line of said Parkway Street, for a distance of 56.57 feet to a 60d nail found for an angle point in the South line of said 1.37 acre tract; THENCE North 80*32'16" West continuing along the North line of said Parkway Street, for a distance of 30.60 feet to a 60d nail found fbr the most Southerly Southwest comer of said 1.37 acre tract; THENCE North 75"0622" West continuing along the North line of said Parkway Street, for a distance of 70.93 feet to a 5/8 inch iron nod capped "TNP" set for the POINT OF BEGINNING for the herein described tract; THENCE North 72°25'02" West continuing along the North line of said Parkway Street, for a distance of 81.46 feet to a 5/8 inch iron rod capped "TNP" set for the beginning of a curve to the left; THENCE In a Northwesterly direction, continuing along the North line of said Parkway Street, and along said curve to the left having a central angle of 12011'36", a radius of 585.00 feet, a chord bearing of North 78°30'50" West, a chord distance of 124.26 feet and an arc length of 124.50 feet to an "X" cut in concrete set for the end of said curve; THENCE North 84'36'38" West continuing along the North line of said Parkway Street, for a distance of 35.71 feet to a 5/8 inch iron rod capped "TNP' set for the South end of a flare in the East line of Carroll Boulevard (a variable width right-of-way); THENCE North 25020'34" West along said flare in the East line of said Carroll Boulevard, for a distance of 23.11 feet to a 518 inch iron rod capped "TNP* set for the North end of said flare; THENCE North 00*00'19" East along the East line of said Carroll Boulevard, for a distance of 78.69 feet to a 518 inch iron rod capped "TNP" set for comer; THENCE North 90°00'00" East departing the East line of said Carroll Boulevard, for a distance of 20.09 feet to a 518 inch iron rod capped "TNP' set for comer; THENCE South 83°53'14" East for a distance of 87.21 feet to a 518 inch iron rod capped "TNP" set for the beginning of a non -tangent curve to the right; DEN20522 — Chamber of Commerce Sale Traci Page 1 of 3 DocuSign Envelope ID: A5AAD008-C315-4A34-8349-15930749B2F6 THENCE in a Southeasterly direction, along said non -tangent curve to the right having a central angle of 02045'00", a radius of 254.00 feet, a chord bearing of South 63°0041" East, a chord distance of 12.19 feet and an arc length of 12.19 feet to a 518 inch iron rod capped `TNP" set for the end of said curve; THENCE South 83°36'51" East for a distance of 11.47 feet to a 518 inch iron rod capped "TNP" set for corner; THENCE South 06°22'29" West for a distance of 4.96 feet to a 518 inch iron rod capped "TNP" set for the beginning of a non -tangent curve to the right; THENCE in a Southeasterly direction, along said non -tangent curve to the right having a central angle of 25°OT01", a radius of 254.00 feet, a chord bearing of South 46°1533" East, a chord distance of 110.46 feet and an are length of 111.35 feet to a 518 inch iron rod capped "TNP' set for the and of said curve; THENCE South 33°42'02" East for a distance of 65.86 feet to the POINT OF BEGINNING, and containing 0.449 acres of land, more or less. NOTES: 1. Bearings are referenced to Grid North of Me Texas Coordinate System of 108.E (North Central Zone 4202. NAD83 (2011) EPOCH 2010) as de&od locally from RTK Network continuously operating reference stations (CORS) via real trme kinematic (RTKJ survey methods. The distances shown hereon represent surface values utilizing a surface adjustment factor of 1.000150630 to scale from grid to surface. 2. This legal description is based on the Land True Survey and Plat prepared by 7 odd B. Tumor, R P.L.S. No. 4853, dated December 21, 2020. Todd B. Turrier;"F.P.L_S. No. 4859 Teague Nall & Perkins, Inc. 3200 S. interstate 35E, Suite 1129 Denton, Texas 76210 940-383-4177 Date: December 21, 2020 DEN20522 — Chamber of Commem* Sale Tract page 2 of 3 SJ8 CORS WK (TY 014 . aCONCRETE a �� PARKING )TY �I o VOL 67x, FSG. 282 a 4 L2 In Ii.D•C.T. � " °'oN ')r SET iN- CONCRETE LINE TABLE WD NAIL PjJ FND. Dim E L1 CHAMBER OF COMMERCE, INC. W + CONCRETE C/�, TRACT II a CHANNEL CALLED 0.2140 ACRES a a1�4. 29 pNrby C. NO. DO4.8 4 a a. a PG.'a R.P.R.D.C.T. 3 N 25!20'34"23.11 d Turner, RPLS 4859 on December 21, L4 N 00.001 s 2020. Reference is hereby made to said 78.52 Lr�l L!i'aa N 990WOO" IBM ROD FOUND o ... !& m S 63'5314 • CpNCRE L?e L8 ; ` b$E'CTRK4+ 87.21 L7 TRANSFORMER' v J 11.4 1-8 OJ ca W 2 -STORY •� ' o BRICK-STUCCG•STGNE a 4 w - S 3342'02" BUILDlN4 A 65.66 L10 N 0939 34 b 0.449 ACRES' cK aNN�� " 74.37 L11 S 88-24'42- W SJ8 CORS WK (TY 014 . aCONCRETE a �� PARKING )TY �I o VOL 67x, FSG. 282 a 4 L2 In Ii.D•C.T. � " °'oN ')r SET iN- CONCRETE LINE TABLE PAllit (VA IA&E srRE RIDN_Or' E 1,) CRETY; . PARKING 7' POINT OF BEGINNING LEGEND o Dim E L1 I N 7T25'02" W $1.46 L2 N 8f,35'38" 0 35.71 L3 N 25!20'34"23.11 aaD NM mm m Turner, RPLS 4859 on December 21, L4 N 00.001 s 2020. Reference is hereby made to said 78.52 5 N 990WOO" IBM ROD FOUND o O. L S 63'5314 87.21 L7 S 83'36'51 11.4 1-8 S 06.22 2 W -7:9 -6r - L9 S 3342'02" E 65.66 L10 N 0939 34 E 74.37 L11 S 88-24'42- W 150.09 L1 N -67-4V21- 21 56.57 Li 31 N 8932-16" yj 30.60 L141 N 75'08'22" 70.93 PAllit (VA IA&E srRE RIDN_Or' E 1,) CRETY; . PARKING 7' POINT OF BEGINNING (C" ao , BOD NArz a 3 W FND- APPROXIMATE SURVEY UNE m FNA. 1-10' .. o• 4.11 - LIRONRDD I -- m o<� 1� d••A `S+c� �a Ot" . ,4.,� ,'4c-10 L ra 0 25 50 100 tnp SCALE: 1 " = 50' WtLI•.IANti NEILI- SURVE� AE35T�ACT No. 971. f$°oNAIL. FND. BOD NIAKL FND. 1n•cm 'RPLS 4'38r' UNITED THROUGH LEGEND o NOTE: <3V n d1LR w4m POM' ADAM C. BURKETT CALLED 1.37 ACRES � 1}2' ROTI ROD FDUNa (IMtl,F^�S NOTED O7HeR.18q cQ This &hfblt was prepared from the Land 0 3/e' RN Rol ser wml CHIP snvww 'Tw M Title Survey and Plat signed by Todd B. a aaD NM mm m Turner, RPLS 4859 on December 21, 0 'k' SEr IN Caen 2020. Reference is hereby made to said (C*DMaKILUNO KION MW `° Land TWO Survey for officlel survey mr IBM ROD FOUND o Infermatton. cpw > (C" ao , BOD NArz a 3 W FND- APPROXIMATE SURVEY UNE m FNA. 1-10' .. o• 4.11 - LIRONRDD I -- m o<� 1� d••A `S+c� �a Ot" . ,4.,� ,'4c-10 L ra 0 25 50 100 tnp SCALE: 1 " = 50' WtLI•.IANti NEILI- SURVE� AE35T�ACT No. 971. f$°oNAIL. FND. BOD NIAKL FND. 1n•cm 'RPLS 4'38r' UNITED THROUGH DAPPED M ROD FOUND H.O.P.E.INC. CALLED 0.258 <3V D.RALT. OEED KODRUS OiJ M OXW IEM a ADAM C. BURKETT CALLED 1.37 ACRES - -J O:R.D.C.T: OFFKgAL MpORDS DOMM COUNTY TOM 0 R P R D D T. REAL PROPERTY RECORDS oE1(fUri COUNTY TrAA9 n DOC. NO, 2DD4-5898 )Umawf UK 12 1R"CIRF 'RPLS 1849' n R10F47-Craw1Y LHE �4 (C" ao , BOD NArz a 3 W FND- APPROXIMATE SURVEY UNE m FNA. 1-10' .. o• 4.11 - LIRONRDD I -- m o<� 1� d••A `S+c� �a Ot" . ,4.,� ,'4c-10 L ra 0 25 50 100 tnp SCALE: 1 " = 50' WtLI•.IANti NEILI- SURVE� AE35T�ACT No. 971. f$°oNAIL. FND. BOD NIAKL FND. 1n•cm 'RPLS 4'38r' UNITED THROUGH me H.O.P.E.INC. CALLED 0.258 <3V ACRES DOC. DOC. N04 2015-114949 - -J L91 POINT OFI COMMENCING r/27RF lCM) CURVE TABLEP� 5 ... RADIUSCURVE ARC LENGTHI EXHIBIT W Cl 124.50 585.00 12"11'36'N 7630'50"W 24.26 C2 12.19 1254.001 245'00- S 63'00'41 E 1 12.12 .` :....`.�••.....,.....� *.. 0.449 ACRE TRACT C3 111.35 254.00 2V07'01- S 46'15'33- E 110.46 TODD B. TURNER ..y....... ... ... :-o 4859 BEING A TRACT OF LAND SITUATED IN THE teague rlall and parkins �'`,?, y,.= ROBERT BEAUMONT SURVEY, ABSTRACT NO. 31 AND 3200 S. Uq+rA.f.33E. Sv)hw I I" cry THE WILLIAM NEILL SURVEY, ABSTRACT NO.971 D.mon, T.xes 76210 � � � � PART OF LOTS 0 AND 8. BLOCK 1, BARB'S ADDITION 940.363.4177 ph 440.3a3.0a (z /g Inpl"coom, CITY OF DENTON, DENTON COUNTY, TEXAS r6 w TERM 10Q ,f ac�3 a DEN20522 PAGE 3 OF3 DocuSign Envelope ID: A5AAD008-0315-4A34-8349-15930749B2F6 EXHIBIT "B" DRAINAGE EASEMENT BEING a 0.126 acre tract of land situated in the Robert Beaumont Survey, Abstract No. 31 and the William Neill Survey, Abstract No. 971, City of Denton, Denton County, Texas, and being known as a part of Lot 6, Block 1 per the Plat of Barb's Addition, as recorded in Volume O, Pages 136 and 137 of the Deed Records of Denton. County, Texas, and also being a part of that certain tract of land described in a Warranty Deed to the City of Denton, Texas, as recorded in Volume 572, Page 262 of the Deed Records of Denton County, Texas, and being more particulady described as follows: COMMENCING at a 112 inch iron rod found for the Southeast corner of a called 0.258 acre tract of land desc bed in a Deed to United Through H.O.P.E. Inc., as recorded in Document No. 2015-114949 of the Official Records of Denton County, Texas, same being the intersection of the West line of Bolivar Street (50' right-of-way) with the North line of Parkway Street (a variable width right-of-way), from which a 112 Inch iron rod capped "RPLS 4567" found for the Northeast corner of said 0.258 acre tract bears North 00039'34" East a distance of 74.97 feet; THENCE" South 88°24`42" West along the North line of said Parkway Street, for a distance of 150.05 feet to a point for the Southeast corner of a called 1.37 acre tract of land described in a Deed to Adam C. Burkett, as recorded in Document No. 20045858 of the Official Records of Denton County, Texas; THENCE North 87044'21" West oontinuing along the North line of said Parkway Street, for a distance of 56.57 feet to a 60d nail found for an angle paint in the South line of said 1.37 acre tract; THENCE North 80632'16" West continuing along the North line of said Parkway Street, for a distance of 30.60 feet to a 60d nail found for the most Southerly Southwest coater of said 1.37 acre tract; THENCE North 75°08'22" West continuing along the North line of said Parkway Street, for a distance of 70.93 feet to a 518 inch iron rod capped •TNP" set for the POINT OF BEGINNING for the herein described tract; THENCE North 72°25'02" West continuing along the North fine of said Parkway Street, for a distance of 81 A6 feet to a 518 inch iron rod capped 'ENP' set for the beginning of a curve to the left; THENCE* in a Northwesterly direction, continuing along the North line of said Parkway Street, and along said curve with a curve to the left having a central angle of 01"18'42% a radius of 585.00 feet, a chord bearing of North 73404`23" West, a chord distance of 13.39 feet, and an arc length of 13.39 feet to a point for comer: THENCE North 14°08'56" West departing the North line of said Parkway Street, for a distance of 105.86 feet to a 518 inch iron rod capped'TNP" set for the beginning of a non -tangent curve to the right; THENCE In a Southeasterly direction, along said non -tangent curve to the right having a central angle of 25°OT01", a radius of 254.00 feet, a chord bearing of South 46°15133" East, a chord distance of 110.46 feet and an arc length of 111.35 feet to a 518 inch iron rod capped 'TNP' set for the end of said curve; THENCE South 33°42'02" East for a distance of 65.86 feet to the POINT OF BEGINNING, and containing 0.126 acres of land, more or less. NiyT'ES3..-'. 1. Bearings are referenced to Gnd North of ft Texas Coordinate System of 1983 (North Central Zone 4202. NAD83 (2011) EPOCH 2010) as derived focally from RTK Network conffnuously operating reference stations (CORS) via maf time kinematic (RTK) sunray methods. The distances shown hereon represent surface values utilizing a surface s*mftnent factor of 1.060150830 to scale from grief to surface. 2. 71 Easement Exhi of even date herewith accompanies this lege/ dascrfption. See Page 2 of 2. 2 0 roc` 41359 a t s T CR f Teague Nall 8 Perkins, Inc. ISO) 3200 S. Interstate 35E, Suite 1129 • Denton, Texas 76210 `•«•`"••`�" ItlE1A B. 1ltM�R 840-383-4117«.«...+..»..«.... Date: December 21, 2020 �.0 4+189 tv C� gato yo4 D S URv DEN20522 — Drainage Easement Page 1 of 2 C30.1216ACRES PqR� STREET Cl RIC,f17-QI�� �,A LINE TABLE IM fRs I[ tioD NAIL LEGEND o 0 t N FND N 72'25 02 Wl 81.46 CHAMBER OF COMMERCE, INC. N 14608'56 L OP �LxOC `�l pEl TRACT II CALLED 0.2140 ACRES DOC. NO. 94-88N7 L3 S 3342'02 R.P.R.D.C.T 65.86 L4 N 00'39'34" E 74.97 L5 J X WI 150.09 00 N 144 21 m� L7 *MARS 30.60 L9 N 75'08 22 CITY OF DENTON ' 70.93 19 VOL 572e PCs. 202 E �c �` D.R.D.C.T. O.R.O.C.T. a PROPOSE 4� G7 0 X4B�WY 80DNAfL A A kl�l�s w FND. APPROXI FATE SURVEYLINE �SETW DRAINAGE r-S�R GIBS "rNP- _ CONCRETE to FND. 1-112' a� 1 RC1D e r W C30.1216ACRES PqR� STREET Cl RIC,f17-QI�� �,A LINE TABLE IM fRs I[ NOTES: ! LEGEND o 0 t N L7 N 72'25 02 Wl 81.46 L2 N 14608'56 105.86 L3 S 3342'02 E 65.86 L4 N 00'39'34" E 74.97 L5 S 8W24'42- WI 150.09 LSI N 144 21 56.57 L7 IN 80-32-16- 30.60 L8 N 75'08 22 aaia+D>tRlr UNE j 70.93 19 N 06"22'29" E 4.96 NOTES: POINT OF FNt) Lg BEGINNING �7 SB'ClRS CURVE TABLE IMP 1. Bearings of linos shown hereon are aftonced to Grid North of Me Texas Cooniinafe System of 9989 (North CoaW Zona 4202 NAD83 (2011) Epoch 2010) as d4ertved lomWy from RTff Nehvmk conffn000sly opemyng refbrence, stations (CORS) via read tlme tdnemelfr (AM surrey methods. The distances shown hereon mpresent swam values using a surface a0stment f0mrof 1.000iawso to scale hum W to surface, 2 This Exhibit was prepared wf(h benefit of Abstractor's RapK Fite No. 88225016, pmvtdad by Fldetlty Neifenal Tole Group that covers Line haute of 9.4.73 thm 9-94-20. For easements, ►fights -of --way and(or• oMermaffers of record mdyeditect this tract the Surveyor r9 0d solely on said Abstr oWs Repan 3 A Legaf 0e 0"On ofeven date herewith accampaMas this Easement ESrhiK See Page 1 of 2. 4 t teague nail and perkins 3200 S iftniTe t 7 fml210 1144 17.neon, T.x.<7as10 940.383AIYY ph 940.313.6026 f x vvww.enpimcom TOPMS FIRMA/0011601 60DNAL FNA, Baa RMS UNITED THROUGH LEGEND o 0 H.O.P.E.INC. CALLED 0.288 ACRES ,"ems' GALCEAIIIE'0 POIFR c 0 25 50 100 1/2" MN repo Wuro (D1aM W= 01MM00 '"TW O.R.D.C.T. © sAr MW Roc SET WN CAP STA4 W fn e hoc NAL 1TJ" c ® v SET Mi CONCf M o SCALE: 1 " = 50' (CW CWWAL1M4G 1aollnRsarl CD w NtOM ROD m" ,�i;.._ 'n�, Carr C�PPEO OM R00 FQM np. ..: D.RA.C.T. DEED 12ECOR05 001MCOON Y TE7G8 OADAT. O"M RED01M7t WA*OctAltY TEXAS � R.PAD.C.7 WL PROPERTYMWIMS GDMOXMY TEIrA ADAM C, BURKETT aaia+D>tRlr UNE j CALLED 1.37 ACRES PROP�>trc iAa �' 'APLS 1849• ROC. NO, 2004-5896 plGW-OF-vW TINE W (C" O.R.O.C.T. 4� 80DNAfL A A kl�l�s w FND. APPROXI FATE SURVEYLINE r-S�R GIBS "rNP- to FND. 1-112' a� 1 RC1D e r W POINT OF FNt) Lg BEGINNING �7 SB'ClRS CURVE TABLE IMP 1. Bearings of linos shown hereon are aftonced to Grid North of Me Texas Cooniinafe System of 9989 (North CoaW Zona 4202 NAD83 (2011) Epoch 2010) as d4ertved lomWy from RTff Nehvmk conffn000sly opemyng refbrence, stations (CORS) via read tlme tdnemelfr (AM surrey methods. The distances shown hereon mpresent swam values using a surface a0stment f0mrof 1.000iawso to scale hum W to surface, 2 This Exhibit was prepared wf(h benefit of Abstractor's RapK Fite No. 88225016, pmvtdad by Fldetlty Neifenal Tole Group that covers Line haute of 9.4.73 thm 9-94-20. For easements, ►fights -of --way and(or• oMermaffers of record mdyeditect this tract the Surveyor r9 0d solely on said Abstr oWs Repan 3 A Legaf 0e 0"On ofeven date herewith accampaMas this Easement ESrhiK See Page 1 of 2. 4 t teague nail and perkins 3200 S iftniTe t 7 fml210 1144 17.neon, T.x.<7as10 940.383AIYY ph 940.313.6026 f x vvww.enpimcom TOPMS FIRMA/0011601 60DNAL FNA, Baa RMS UNITED THROUGH cc H.O.P.E.INC. CALLED 0.288 ACRES ,"ems' Q 000. NO. 2016-114949 :1e O.R.D.C.T. W L5 POINT OF COMMENCING 112%W (CAQ EXHIBIT "B" DRAINAGE EASEMENT BEING A 0.126 ACRE TRACT OF LAND SITUATED IN THE ROBERT BEAUMONT SURVEY, ABSTRACT NO. 31 AND THE WILLIAM NEILL SURVEY, ABSTRACT NO. 971 PART OF LOTS 6 AND 8, BLOCK 1, BARB'S AUDITION CITY OF DENTON. DENTON COUNTY, TEXAS DEN20522 PAGE 2 OF 2 DocuSign Envelope ID: A5AAD008-C315-4A34-8349-15930749B2F6 Axis Realty Group U-1, H-) R I/ C Information About Brokerage Services Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords. TYPES OF REAL ESTATE LICENSE HOLDERS: • A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker. • A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker. A BROKER'S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): • Put the interests of the client above all others, including the broker's own interests; • Inform the client of any material information about the property or transaction received by the broker; • Answer the client's questions and present any offer to or counter-offer from the client; and • Treat all parties to a real estate transaction honestly and fairly. A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION: 11/2/2015 AS AGENT FOR OWNER (SELLERILANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owners agent must perform the broker's minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer's agent. AS AGENT FOR BUYERITENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer's agent must perform the broker's minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller's agent. AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary: • Must treat all parties to the transaction impartially and fairly; • May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction. • Must not, unless specifically authorized in writing to do so by the party, disclose: o that the owner will accept a price less than the written asking price; o that the buyerltenant will pay a price greater than the price submitted in a written offer; and o any coincidental information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law. AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: • The broker's duties and responsibilities to you, and your obligations under the representation agreement. • Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated. LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker's services. Please acknowledge receipt of this notice below and retain a copy for your records. Axis Realtv Grow) of Denton. Inc. Licensed Broker 113roker Firm Name or Primary Assumed Business Name Alex Payne _ Designated Broker of Firm Brad Andrus Licensed Supervisor of Sales Agent/ Associate Chase Traughber Sales Agent/Associate's Name 0570358 License No. Email (940)891-2947 Phone 0468927 alex@axisrealty. biz (940)891-2947 License No. Email Phone 656647 brad0blaxisrealty.biz (940,891-2947 License No. Email Phone 675426 os License No. wry Buyer/Tenantl& eilLandlor_..c�.C�_ chase@axis realty,biz (940)891-2947 Email Phone _ 9/10/2021 Date Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov IABS 1-0 Axis Realty Group, 212 S. Elm Street Denton TX 76201 Phone: 940.891.2947 Fax: 940.891.2948 414 W Parkway - Area Payne Produced with zipFornr0 by zipLogix 18070 Fifteen Mlle Road, Fraser. Michigan 48026 www z4Looix= DocuSign Envelope ID: MAAD008-C3154A34-8349-159307L..A1 1 1 IiJ 11. E Total List Price (sales price) $825,000.00 Building to Land Value Ratio 80/20 0.49 Listing Breakdown Total Lanni Value (20%) $165,000.00 Total Building Value (80%) $660,0W.00 Estimated Chamber Proceeds $86,102.24 $369,448.88 Estimated City Proceeds $369,448.88 Total Proceeds $455,551.12 $369,448.88 Percent of Total Proceeds 55.220 44.78 if the properties sell for a total of $825,000, that would mean that the Chamber gets $86,102.24 for its .49 acres of land, PWS $369,448.88, which Is half of the $738,897.76 for 414W. Parkway Sales prices above or below that shown In B2 will be to embedded formulas. North Parking Lot 414 Acreage 0.49 0.449 Building Square Footage 7,182 Percent of Total Land Value 52.18:u 47.82% Land Value $86,102.24 $78,897.76 Building Value $6KOOD.00 Component of List Price $86,102.24 $738,897.76 Split of Proceeds 100% Chamber 50-50% City/Chamber Estimated Chamber Proceeds $86,102.24 $369,448.88 Estimated City Proceeds $369,448.88 Total Proceeds $455,551.12 $369,448.88 Percent of Total Proceeds 55.220 44.78 if the properties sell for a total of $825,000, that would mean that the Chamber gets $86,102.24 for its .49 acres of land, PWS $369,448.88, which Is half of the $738,897.76 for 414W. Parkway Sales prices above or below that shown In B2 will be to embedded formulas.