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22-01222-012ORDINANCE NO. AN ORDINANCE OF THE CITY OF DENTON AUTHORIZING THE EXECUTION OF ACONTRACT OF SALE BETWEEN THE CITY OF DENTON, AS BUYER, AND MICHAELDAVIDSON AND PENNY DAVIDSON (REFERRED TO HEREIN AS “SELLER”), FOR THEPURCHASE OF A 71.034 ACRE TRACT OF LAND, MORE OR LESS, BEING SITUATED INTHE J. WEST SURVEY, LOCATED IN THE CITY OF DENTON, DENTON COUNTY,TEXAS, AND KNOWN AS 5995 HARTLEE FIELD ROAD, FOR THE PURCHASE PRICE OFONE MILLION NINETY THOUSAND FOUR HUNDRED FIFTY-FIVE DOLLARS AND NO/100 ($1,090,455.00); AUTHORIZING THE EXPENDITURE OF FUNDS THEREFOR;PROVIDING FOR SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the above-captioned tract, containing approximately 71.034 acres of land, located at 5995 Hartlee Field Road, and being more particularly described in Exhibit “ A“ to the Contract of Sale, attached hereto and made a part hereof for all purposes, (the “Property“) may be put to public use and benefit; and WHEREAS, Seller has agreed to sell the Property to the City of Denton (the “City”) for the total purchase price of One Million Ninety Thousand Four Hundred Fifty-Five Dollars andNo/100 Cents ($ 1,090,455.00); and WHEREAS, the City Council hereby finds that the Contract of Sale between the City andSeller serves a municipal and public use and is in the public interest; NOW, THEREFORE, THE COUNCIL OF THE CITY OF DENTON HEREBY ORDArNS: SECTION 1. The findings set forth in the preamble of this Ordinance are incorporated by reference into the body of this Ordinance as if fully set forth herein. SECTION 2. The Interim City Manager, or designee, is authorized to: (a) execute a Contract of Sale between the City of Denton, as Buyer, and Michael Davidson and Penny Davidson, as Seller, for the purchase price of $1,090,455.00 and under the terms and conditions set forth in the attached Contract of Sale, and (b) execute any other documents necessary for closing of the transaction contemplated by the Contract. SECTION 3. The City Manager is further authorized to make expenditures as set forth in theContract. SECTION 4. If any section, article, paragraph, sentence, phrase, clause, or word in thisordinance, or application thereof to any persons or circumstances, is held invalid or unconstitutional by a court of competent jurisdiction, such holding shall not affect the validity of the remaining portions of this ordinance; the City Council declares that it would have ordained such remaining portion despite such invalidity, and such remaining portion shall remain in fullforce and effect. SECTION 5. This ordinance shall become effective immediately upon its passage and approval. The motion to approve this Ordinance was made by Be\ bA Bee k and seconded by Rv 1 neIIBe/ . The ) proved by the following vote U AyeJ \/J \/ L/ V/ ,/ Nay Abstain Absent Gerard Hudspeth, Mayor: Vicki Byrd, District 1 : Brian Beck, District 2: Jesse Davis, District 3 : Alison Maguire, District 4: Deb Armintor, At Large Place 5 : Paul Meltzer, At Large Place 6: PASSED AND APPROVED this the 2S+kday of l'--v„ y _, 2022. iiiIDN n\\\t IIIIII ATTEST: ROSA RIOS, CITY SECRETARY leputy CitY SaIMW APPROVED AS TO LEGAL FORM: MACK RErNWAND, CITY ATTORNEY Page 2 DocuSign Envelope ID: 13774D59-693B-4F4E-8F52-CDEB6053A834 CONTRACT OF SALE STATE OF TEXAS § COUNTY OF DENTON §NOTICE YOU, AS OWNER OF THE PROPERTY (AS DEFINED BELOW), HAVE THERIGHT TO: (1) DISCUSS ANY OFFER OR AGREEMENT REGARDING THECITY OF DENTON’S ACQUISITION OF THE PROPERTY WITH OTHERS; OR(2) KEEP THE OFFER OR AGREEMENT CONFIDENTIAL, UNLESS THEOFFER OR AGREEMENT IS SUBJECT TO CHAPTER 552, GOVERNMENTCODE This Contract of Sale (the “Contract”) is made this effective as of the date of execution hereof by Buyer, as defined and between Michael Davidson and Penny Davidson, (referred to herein collectively as “Seller”) and the City of Denton, a Texas Home Rule Municipal Corporation of Denton County, Texas (referred to herein as “Buyer”). lg-; day ol 2022, herein (the 19)9 by RECITALS WHEREAS, Seller owns that certain tract of land, being an approximately 71 .034 acre tract of land in the J. Douthitt Survey, Abstract Number 329 and the J. West Survey Abstract Number 1331, Denton County, Texas as described on Exhibit “A,” attached hereto and made a part hereof for all purposes, being located in Denton County, Texas (the “Land”); and WHEREAS, Seller desires to sell to Buyer, and Buyer desires to buy from Seller, the Land, 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 Land (collectively, the “Property”). ARTICLE 1SALE OF PROPERTY 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. Seller, subject to the limitation of such reservation made herein, shall reserve, for themselves, their heirs, devisees, successors, and assigns, all oil, gas, and other minerals in, on, and under and that may be produced from the Property. Seller, their heirs, devisees, successors, and assigns shall not have the right to use or access the surface of the Property, in any way, manner, or form, in connection with or related to the reserved oil, gas, and other minerals and/or related to exploration and/or production of the oil, gas, and other minerals reserved herein, including without limitation, use or access of the surface of the Property for the location of any DocuSign Envelope ID: 13774D59-693B-4F4E-8F52-CDEB6053A834 well or drill sites, well bores, whether vertical or any deviation from vertical, water wells, pit areas, seismic activities, tanks or tank batteries, pipelines, roads, electricity or other utility infrastructure, and/or for subjacent or lateral support for any surface facilities or well bores, or any other infrastructure or improvement of any kind or type in connection with or related to the reserved oil, gas, and other minerals, and/or related to the exploration or production of same. As used herein, the term “minerals” shall include oil, gas, and all associated hydrocarbons, and shall exclude (i) all substances that any reasonable extraction, mining, or other exploration and/or production method, operation, process, or procedure would consume, deplete, or destroy the surface of the Property; and (ii) all substances which are at or near the surface of the Property. The intent of the parties hereto is that the meaning of the term“minerals” as utilized herein, shall be in accordance with that set forth in Reed v. Wylie, 597 S. W.2d 743 (Tex. 1980). As used herein, the term “surface of the Property” shall include the area from the surface of the earth to a depth of five hundred feet (500’) below the surface of the earth and all areasabove the surface of the earth. It is understood that the Property, or a portion thereof, may be subject to an existing oil and gas lease and that such oil and gas lease, to the extent it is valid and subsisting, shall not be subject to such surface use prohibitions, to the extent provided by law. However, (i) such oil and gas lease shall be considered an Exception, as defined below; and (ii) nothing contained hereinshall be deemed as recognizing the validity or subsistence of such lease and/or operate as arevivor thereof. ARTICLE IIPURCHASE PRICE AND EARNEST MONEY 2.01 Purchase Price. The Purchase Price to be paid to Seller for the Property is the sum ofONE MILLION NINETY THOUSAND FOUR HUNDRED FIFTY-FIVE and NO/100 Dollars ($ 1,090,455.00) (the “Purchase Price”). 2.02 Earnest Money. Buyer shall deposit the sum of TEN THOUSAND NINE HUNDRED FOUR and No/100 Dollars (§ 10,904.55), as Earnest Money (herein so called) with Title Resources, 525 S. Loop 288, Suite 125, Denton, TX 76205 (the “Title Company”), Keith Pierce as escrow agent, within fourteen (14) calendar days after the Effective Date hereof. All interestearned 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 DocuSign Envelope ID: 13774D59-693B-4F4E-8F52-CDEB6053A834 ARTICLE IIITITLE AND SURVEY 3.01 Title Commitment. (a)Within twenty (20) calendar days after the Effective Date, Seller shall cause to be furnished to Buyer, at Buyer’s expense, a current Commitment for Title Insurance (the “Title Commitment”) for the Property, issued by Title Company. The Title Commitmentshall 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 (each of which are referred to herein as an “Exception”). (b)Along with the Title Commitment, Seller 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 (the “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. 3.02 Survey. Within twenty (20) calendar days after the Effective Date, Seller shall cause to be prepared at Buyer’s expense, a current on the ground survey of the Property (the “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, 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 survey 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 TitlePolicy. 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. 3.03 Review of Title Commitment, Survey, and Exception Documents. Buyer shall have a period of fifteen (15) calendar days (the “Title Review Period”) commencing with the day Buyer receives the last of the Title Commitment, the Survey, and the Exception Documents, in which togive written notice to Seller, specifying Buyer’s objections to one or more of the items (“Objections”), if any. All items set forth in the Schedule C of the Title Commitment, and all other items set forth in the Title Commitment which are required to be released or otherwise satisfied at or prior to Closing, shall be deemed to be Objections without any action by Buyer. 3 DocuSign Envelope ID: 13774D59-693B-4F4E-8F52-CDEB6053A834 3.04 Seller’s Obligation to Cure; Buyer’s Right to Terminate. The Seller shall, withinfifteen (15) calendar days after Seller is provided notice of Objections, either satisfy theObjections at Seller’s sole cost and expense or promptly notify Buyer in writing of the Objections that Seller cannot or will not satisfy at Seller’s expense. Notwithstanding theforegoing sentence, Seller shall, in any event, be obligated to cure those Objections or Exceptions that have been voluntarily placed on or against the Property by Seller after the Effective Date. If Seller fails or refuses to satisfy any Objections that Seller is not obligated to cure within the allowed fifteen (15) calendar day period, as may be extended by Buyer, in its sole discretion, then Buyer has the option of either: (a)waiving the unsatisfied Objections by, and only by, notice in writing to Seller prior to Closing, in which event those Objections shall become Permitted Exceptions (herein so called), or (b) terminating this Contract by notice in writing prior to Closing and receiving back the Earnest Money, in which latter event Seller and Buyer shall have no further obligations, one to the other, with respect to the subject matter of this Contract. 3.05 Title Policy. At Closing, Seller, at Buyer’s sole cost and expense, shall cause a standard Texas Owner’s Policy of Title Insurance (“Title Policy”) to be furnished to Buyer. The Title Policy shall be issued by the Title Company, in the amount of the Purchase Price and insuringthat Buyer has indefeasible fee simple title to the Property, subject only to the Permitted Exceptions. The Title Policy may contain only the Permitted Exceptions and shall contain no other exceptions to title, with the standard printed or common exceptions amended or deleted asfollows (a)survey exception must be amended if required by Buyer to read “shortages in area“ only (although Schedule C of the Title Commitment may condition amendment on the presentation of an acceptable survey and payment, to be borne solely by Buyer, of any required additional premium); (b)no exception will be permitted for “visible and apparent easements” or words to that effect (although reference may be made to any specific easement or use shown on the Survey, if a Permitted Exception); (C)no exception will be permitted for “rights of parties in possession”, unless otherwise agreed by Buyer; and (d)no liens will be shown on Schedule B. Notwithstanding the enumeration of the stated exceptions, amendments, and/or deletions, Buyer may object to any Exception it deems material, in its sole discretion. 4 DocuStgn Envelope ID: 13774D59-693B-4F4E-8F52-CDEB6053A834 ARTICLE IVFEASIBILITY REVIEW PERIOD 4.01 Review Period. Any term or provision of this Contract notwithstanding, the obligationsof 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 ofthis Contract and ending sixty (60) calendar days thereafter (the “Absolute Review Period”), based on such appraisals, tests, examinations, studies, investigations, and inspections of theProperty 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 atBuyer’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. IfBuyer 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, and 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, if requested by Seller, copies of (i) any and all non-confidential and non-privileged reports and studies obtained by Buyer during the Absolute Review Period; and (ii) the Survey. ARTICLE VREPRESENTATIONS, WARRANTIES, COVENANTS, ANDmuTv 5.01 Representations and Warranties of Seller. To induce Buyer to enter into this Contractand consummate the sale and purchase of the Property in accordance with the terms and provisions herewith, Seller represents and warrants to Buyer as of the Effective Date and as ofthe Closing Date, except where specific reference is made to another date, that: (a) (b) The descriptive information concerning the Property set forth in this Contract is complete, accurate, true, and correct. There are no adverse or other parties in possession of the Property or any part thereof,and no party has been granted any license, lease, or other right related to the use or possession of the Property, or any part thereof, except those described in the Leases, as defined in Article V, Section 5.02(a). (C) (d) (e) The Seller has good and marketable fee simple title to the Property, subject only to the Permitted Exceptions. The Seller has the full right, power, and authority to sell and convey the Property as provided in this Contract and to carry out Seller’s obligations hereunder. The Seller has not received notice of, and has no other knowledge or information of, any 5 DocuSign Envelope ID: 13774D59-693B-4F4E-8F52-CDEB6053A834 pending or threatened judicial or administrative action, or any action pending or threatened by adjacent landowners or other persons against or affecting the Property. (f)The Seller has paid all real estate and personal property taxes, assessments, excises, and levies that are presently due, if any, which are against or are related to the Property, or will be due as of the Closing, and the Property will be subject to no such liens. (g)Seller has contracted or entered into an agreement with a real estate broker which will result in real estate broker commissions or finder’s fee or other fees payable to such realestate broker with respect to the transactions contemplated by this Contract and, therefore, at Closing Seller shall pay directly or shall pay out of the proceeds due to Seller hereunder at Closing any and all professional service fees, finder’s fees and/or real estate broker commissions due under such agreement and any other agreements, oral or written, that may have been entered into by Seller with respect to the Property or the transactions contemplated by this Contract. (b)All Leases, as defined in Article V, Section 5.02(a), shall have expired or otherwise terminated, and any and all tenants or parties occupying the Property pursuant to the Leases shall have permanently abandoned and vacated the Property, including without limitation, all personal property of any such tenants or parties, on or before the date of Closing. (i)The Seller is not a “foreign person” as defined in Section 1445 of the Internal Revenue Code of 1986, as amended. 5.02 Covenants and Agreements of Seller. Seller covenants and agrees with Buyer asfollows: (a)Within ten (10) calendar days after the Effective Date, Seller, at Seller’s sole cost and expense, shall deliver to Buyer, with respect to the Property, true, correct, and complete copies of the following: (1)All lease agreements and/or occupancy agreements and/or licenses of any kind or nature (if oral, Seller shall provide to Buyer in writing all material terms thereof) relating to the possession of the Property, or any part thereof, including any and all modifications, supplements, and amendments thereto (the “Leases”). (b)From the Effective Date until the date of Closing or earlier termination of this Contract,Seller shall: (1)Not enter into any written or oral contract, lease, easement or right of way agreement, conveyance, or any other agreement of any kind with respect to, or affecting, the Property that will not be fully performed on or before the Closing or would be binding on Buyer or the Property after the date of Closing. (ii)Advise the Buyer promptly of any litigation, arbitration, or administrative 6 DocuSign Envelope ID: 13774D59-693B4F4E-8F52-CDEB6053A834 hearing, or claims related thereto, concerning or affecting the Property. (111) (iv) Not take, or omit to take, any action that would result in a violation of the representations, warranties, covenants, and agreements of Seller. Not sell, assign, lease, or convey any right, title, or interest whatsoever in or to the Property, or create, grant or permit to be attached or perfected, any lien, encumbrance, or charge thereon. (C)Seller shall indemnify and hold Buyer harmless, to the extent permitted by law, from all loss, liability, and expense, including, without limitation, reasonable attorneys’ fees,arising or incurred as a result of any liens or claims resulting from labor or materials furnished to the Property under any written or oral contracts arising or entered into prior to Closing. (d)On or before Closing, Seller shall remove (i) any vehicles, including but not limited to cars, trucks, and boats, running or not that are located upon, or otherwise may be placed on the Property (the “Vehicles”), from the Property and dispose of same in accordance with all applicable statutes, regulations, rules, orders, and ordinances; and (ii) all personal property from the Property. It is expressly stipulated that (i) the Vehicles shall be deemed at all times the property of Seller; and (ii) Buyer may retain, destroy, or dispose of any property, of any kind or type, left or remaining on the Property at Closing (the “Abandoned Property”), without liability of any kind to Buyer and without payment of consideration of any kind to Seller. In theevent Buyer shall elect to store said Abandoned Property, Buyer may store such Abandoned Property in the name, and at the expense, of Buyer. 5.02.A. Warranty of Buyer; Property Condition. Buyer represents and warrants to Seller that it has made, or will make prior to Closing, an independent inspection and evaluation of the Property and acknowledges that Seller has made no statements or representations concerning the present or future value of the Property, or the condition, including the environmental condition, of the Property. Except as otherwise specifically represented and warranted by Seller in this Contract,SELLER MAKES NO REPRESENTATIONS OR WARRANTIES, EXPRESSED,STATUTORY, OR IMPLIED, AS TO THE VALUE, QUALITY, QUANTITY, PHYSICALAND ENVIRONMENTAL CONDITION OF THE PROPERTY, AND/OR MATERIALSCONTAINED OR LOCATED IN, ON, OR UNDER THE PROPERTY, THE NATURE OFTHE PAST OR HISTORIC USE OF THE PROPERTY, AND/OR MERCHANTABILITY OR FITNESS FOR PURPOSE OF ANY OF THE PROPERTY. Buyer further acknowledges that it has relied solely upon its independent evaluation and examination of the Property, public records relating to the Property, and the independent evaluations and studies based thereon. Seller makes no warranty or representation as to the accuracy, completeness, or usefulness of any information furnished to Buyer, if any, whether furnished by Seller or any third party. Seller assumes no 7 DocuSign Envelope ID: 13774D59-693B-4F4E-8F52-CDEB6053A834 liability for the accuracy, completeness, or usefulness of any material furnished by Seller, if any, and/or any other person or party. Reliance on any material so furnished is expressly disclaimed by Buyer, and shall not give rise to any cause, claim, or action against Seller. 5.03 Survival Beyond Closing. Notwithstanding anything to the contrary contained in this Contract, the representations, warranties, covenants, and agreements of Seller and Buyercontained 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 ViCONDITIONS 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, all of the following shall have occurred: (a) (b) 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; and Seller cures or Buyer waives in writing, within the time periods specified in Article III, all of Buyer’s objections made in accordance with Article III. 6.02 Breach of Seller’s Representations, Warranties, Covenants, and Agreements. Buyeris 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, or the Property, or any part thereof, has been materially or adversely impaired In any manner. 6.04 Review Period. Buyer is not obligated to perform under this Contract if Buyer delivers 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 Buyer’s Right to Waive Conditions Precedent. Notwithstanding anything contained in this Contract to the contrary, Buyer may, at Buyer’s option, elect to waive any of the conditions precedent to the performance of Buyer’s obligations under this Contract by giving to the Seller, at any time prior to Closing, a written waiver specifying the waived condition precedent. 6.06 Buyer’s Termination if Conditions Precedent Not Satisfied or Waived. If any of the conditions precedent to the performance of Buyer’s obligations under this Contract have not been satisfied by Seller or waived by the Buyer, the Buyer may, by giving written notice to Seller, terminate this Contract. On Buyer’s termination, the Earnest Money shall be immediatelyreturned to Buyer by the Title Company. The Seller shall, on written request from Buyer, 8 DocuSign Envelope ID: 13774D59-693B-4F4E-8F52-CDEB6053A834 promptly issue the instructions necessary to instruct the Title Company to return to Buyer the Earnest Money and, thereafter, except as otherwise provided in this Contract, Buyer and Seller shall have no further obligations under this Contract, one to the other. ARTICLE VIICLOSING 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 forty five (45) calendar days after the Effective Date, unless otherwise mutually agreed upon by Buyer andSeller 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: (1)The Title Policy, in the form specified in Article III, Section 3.05; (ii)The Special Warranty Deed, substantially in the form as attached hereto as Exhibit “B,” subject only to the Permitted Exceptions, if any, duly executed by Seller and acknowledged; and (iii) Other items reasonably requested by the Title Company as administrative requirements for consummating the Closing. (b)Buyer. At the Closing, Buyer shall deliver to Seller or the Title Company, the followingitems (1)The sum required by Article II, Section 2.01, less the Earnest Money in the form of a check, cashier’s check, or other immediately available funds; and (ii)Other items reasonably requested by the Title Company as administrative requirements for consummating the Closing. 7.03 Adjustments at Closing. 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 VII, Section 7.03 shall survive the Closing. The following item shall be adjusted or prorated between Seller and Buyer with respect to the Property: (a) Ad valorem taxes relating to the Property for the calendar year in which the Closing shall occur shall be prorated and submitted by Seller to the Denton County Tax Assessor as of the Closing Date. Ad valorem tax for the calendar year in which the Closing shall occurshall be tendered under Texas Tax Code Section 26. 11 . If the actual amount of taxes for the calendar year in which the Closing shall occur is not known as of the Closing Date, 9 DocuSign Envelope ID: 13774D59-693B-4F4E-8F52-CDEB6053A834 the proration at Closing shall be based on the amount of taxes due and payable with respect to the Property for the preceding calendar year. Seller shall pay for those taxes attributable to the period of time prior to the Closing Date (including, but not limited to, subsequent assessments for prior years due to change of land usage or ownership occurring prior to the date of Closing) and Buyer shall pay for those taxes attributable to the period of time commencing with the Closing Date. 7.04 Possession at Closing. Possession of the Property shall be delivered to Buyer at Closing. 7.05 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 identified herein as being the responsibility of Seller. Buyer is responsible for paying all other fees, costs, and expenses related to Closing. ARTICLE VIIIDEFAULTS AND REMEDIES 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: (1) (ii) Any of Seller’s warranties or representations contained in this Contract are untrue on the Closing Date; 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, Section7.02(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 toClosing. (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 any of the following: (1)Terminate this Contract by written notice delivered to Seller in which event theBuyer shall be entitled to a return of the Earnest Money, 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; (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, whereupon Buyershall waive title objections, if any, and accept such title without reduction in 10 DocuSign Envelope ID: 13774D59-693B4F4E-8F52-CDEB6053A834 Purchase Price on account of title defects and shall be entitled to assert any rights for damages based on Seller’s representations, warranties, and obligations that are not waived by Buyer by its acceptance of Seller’s title; and (111)Seek other recourse or relief as may be available to Buyer at or by law, equity,contract or otherwise. 8.02 Buyer’s Default and Seller’s Remedies. (a)Buyer’s Default. Buyer is in default under this Contract if 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 prior to Closing. (b)Seller’s Remedy. If Buyer is in default under this Contract, Seller, as Seller’s sole andexclusive remedy for the default, may, at Seller’s sole option, do either one of the following: (1)Terminate this Contract by written notice delivered to Buyer in which event theSeller shall be entitled to a return of the Earnest Money, 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; u (ii)Enforce specific performance of this Contract against Buyer. ARTICLE IXMISCELLANEOUS 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) if provided by telephonic facsimile or hand delivery, the date provided, and (b) if provided by United State Mail, the date of the deposit in a regularly maintained receptacle for the United States Mail, registered or certified, return receipt requested, postage prepaid, addressed as follows: SELLER:BUYER: Penny & Michael Davidson 5433 State Highway 160 Whitewright, Texas 75491 Deanna Cody, Deputy Director Development Services - Real Estate401 N. Elm St. Denton. Texas 76201 11 DocuSign Envelope ID: 13774D59-693B4F4E-8F52-CDEB6053A834 Copies to: For Seller:For Buyer: Laura Brewer c/o Ebby Halliday, Realtors2430 S. 135 E. #130 Denton, Texas 76205 Mack Reinwand, City Attorney City Attorney’s Office 215 E. McKinney Denton, Texas 76201 Telecopy: (940) 382-7923 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 ISPERFORMABLE IN, AND THE EXCLUSIVE VENUE FOR ANY ACTION BROUGHTWITH RESPECT HERETO, SHALL LIE IN 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. 9.05 Risk of Loss. If any damage to the Property shall occur prior to Closing, or 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 any of the following: (a) (b) 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; or Consummate this Contract, in which case Buyer, with respect to the Property, shall be entitled to receive (i) in the case of damage, all insurance proceeds, if any; and (ii) in the case of eminent domain, all proceeds paid for the Property related to the eminent domain proceedings. Buyer shall have ten (10) calendar days after receipt of written notification from Seller onthe final settlement of all condemnation proceedings or insurance claims related to damage to the Property in which to make Buyer’s election. In the event Buyer elects toclose prior to such final settlement, then the Closing shall take place as provided in Article VII, above, and there shall be assigned by Seller to Buyer at Closing, in form and substance satisfactory to Buyer, all interests of Seller in and to any and all insurance 12 DocuSign Envelope ID: 13774D59-693B-4F4E-8F52-CDEB6053A834 proceeds or condemnation awards which may be payable to Seller on account of such event. In the event Buyer elects to close upon this Contract after final settlement, as described above, Closing shall be held five (5) business days after such final settlement. 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 reasonably necessary to consummate the transactions contemplated hereby. 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 Delegation of Authority. Authority to take any actions that are to be, or may be, taken by Buyer under this Contract, including without limitation, adjustment of the Closing Date, are hereby delegated by Buyer, pursuant to action by the City Council of Denton, to Todd Hileman, City Manager of Buyer, or his designee. 9.10 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. 9.11 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. 13 DocuSign Envelope ID: 13774D59-693B-4F4E-8F52-CDEB6053A834 SELLER: BY:MICHAEL DAVIDSON DATE :1/14/2022 /– Do(;uSigned bH By . k?r=3.2f4bhPENNY DAVIDSON DATE:1/14/2022 BUYER: ExecutedbyBuyeronthe as IK day of Jang&fy 2022. ATTEST: ROSA RIOS, CITY SECRETARY THIS AGREEMENT HAS BEEN BOTHREVIEWED AND APPROVED AS TO Financial and operational obligations andBusiness terms. /- Doeu819n8d bF[4;;„GARY PACKAN, DIRECTOR Parks and Recreation DepartmentDate. 1/14/2022 - APPROVED AS TO LEGAL FORM:MACK REINWAND. CITY ATTORNEY a Diginlty signed by CathnineCBfton#„„@-BB:::"BY \1111111110OF DocuSign Envelope ID: 13774D59-693B4F4E-8F52-CDEB6053A834 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 withSection 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. TITLE COMPANY: Title Resources 525 S. Loop 288, Suite 125 Denton, TX 76205Direct: 940-293-0700 Fax: 940-898-0121 By: Printed Name : Title: Contract receipt date :, 20 15 DocuSign Envelope ID: 13774D59-693B4F4E-8F52-CDEB6053A834 EXHIBIT “ A“ Contract of Sale Legal Description to BEING a 71.034 acre tract of land situated in the Jonathan Douthit Survey, Abstract No. 329 and the John West Survey, Abstract No. 1331, Denton County, Texas, and being part of that certain tract of landdescribed in a Deed to Michael Davidson, as recorded in Document No. 2006-44628 of the Official Records of Denton County, Texas, and being more particularly described as follows: BEGINNING at a 1/2 inch iron rod with cap stamped “GEEFq 4117” found for corner in the West line of theabove cited Michael Davidson tract, said point being the Northwest corner of that certain 6.000 acre tractof land described in a Deed to Moisony Jordan Flores, as recorded in Document No. 2021-21376 of theOfficial Records of Denton County: Texas, from which a 7 inch wooden fence corner post found for theSouthwest corner of said Michael Davidson and Flores tract bears South 02'54’20” West a distance of 821.80 feet; THENCE North 02'54'20" East along the West line of said Michael Davidson tract, for a distance of368.78 feet to a 1/2 inch iron rod with cap stamped “GEEFR 4117" found for the Southwest corner of thatcertain 6.000 acre tract of land described in a Deed to Roger Davidson, as recorded in Document No.2006-39347 of the Official Records of Denton County, Texas; THENCE South 87'05'33'’ East along the South line of said Roger Davidson tract, for a distance of465.98 feet to a 1/2 inch iron rod with cap stamped “GEER 4117” found for the Southeast corner of same; THENCE North 02'54'27" East along the East line of said Roger Davidson tract, for a distance of 560.86feet to a 1/2 inch iron rod with illegible cap found for the Northeast corner of same; THENCE North 87'05'33" West along the North line of said Roger Davidson tract, for a distance of466.00 feet to a 1/2 inch iron rod with cap stamped “GEEF: 4117” found for the Northwest corner of same,and being in the West line of said Michael Davidson tract; THENCE North 02'54'20" East along the West line of said Michael Davidson tract, for a distance of888.57 feet to a 5/8 inch iron rod with cap stamped “TNP“ set for the Northwest corner of same; THENCE South 84'29'44" East along the North line of said Michael Davidson tract, for a distance of161.94 feet to a point in the approximate center of Clear Creek; THENCE along the meanders of Clear Creek as follows: South 41'35'05" West for a distance of 42.73 feet to a point;South 27'12'40" West for a distance of 88.88 feet to a point;South 25'25'42" East for a distance of 74.63 feet to a point;South 64'59'37" East for a distance of 57.88 feet to a point;South 89'59'57" East for a distance of 354.02 feet to a point;North 75'34'30" East for a distance of 72.89 feet to a point;North 59'04'01" East for a distance of 74.81 feet to a point;North 49'C)4'20" East for a distance of 104.00 feet to a point; North 54'24'46" East for a distance of 33.27 feet to a point;North 66'38'37" East for a distance of 164.34 feet to a point;South 49'44'46" East for a distance of 142.59 feet to a point;South 15'12'00" East for a distance of 270.00 feet to a point;South 32'21'26" East for a distance of 264.09 feet to a point; 16 DocuSign Envelope ID: 13774D59-693B-4F4E-8F52-CDEB6053A834 South 22'55'52" East for a distance of 486.40 feet to a point;South 41'17'33" East for a distance of 129.95 feet to a point;South 23'40'27" East for a distance of 399.58 feet to a point;South 28'34'31" East for a distance of 359.12 feet to a point;South 16'12'01" East for a distance of 449.39 feet to a point for the most Easterly Southeastcorner of said Michael Davidson tract and the Northeast corner of that certain 49.1 acre tract of land described as Tract No. 2 in a Deed to the City of Dallas, Texas, as recorded in Volume 214, Page 284 of the Deed Records of Denton County, Texas; THENCE North 89'09'25" West departing the approximate center of Clear Creek, along the South line of said Michael Davidson tract and the North line of said 49.1 acre tract, passing a 1/2 inch iron rod foundfor reference at a distance of 1 16.62 feet, and continuing along the South line of said Michael Davidsontract, the North line of said 49.1 acre tract and the North line of that certain 31.80 acre tract of land described in a Deed to the City of Denton, Texas, as recorded in Document No. 2010-127042 of theOfficial Records of Denton County, Texas, for a distance of 1355.60 feet to a 5/8 inch iron rod with capstamped “TNP“ set at the base of a broken 5 inch wooden fence corner post for an interior eII corner ofsaid Michael Davidson Tract and the most Northerly Northwest corner of said 31.80 acre tract; THENCE South 03'13'37" West along the most Southerly East line of said Michael Davidson tract andthe West line of said 31.80 acre tract, for a distance of 419.04 feet to a 12 inch hackberry tree found forthe most Southerly Southeast corner of said Michael Davidson tract and an interior eII corner of said 31.80 acre tract, from which a 5/8 inch iron rod with cap stamped “TNP“ set for reference bears North89'35'23" West a distance of 3.00 feet; THENCE North 89'35'23" West along the South line of said Michael Davidson tract, passing a 1/2 inchiron rod with illegible cap found for the most Westerly Northwest corner of said 31.80 acre tract at adistance of 127.07 feet, and continuing along the South line of said Michael Davidson tract, for a totaldistance of 412.57 feet to a 1/2 inch iron rod with cap stamped “GEER 4117” found for the Southeastcorner of the above cited Flores tract, from which a 7 inch wooden fence corner post found for theSouthwest corner of said Flores tract and Michael Davidson tract bears North 89'35'23" West a distanceof 318.02 feet THENCE North 02'55'18" East along the East line of said Flores tract, for a distance of 822.05 feet to a5/8 inch iron rod with cap stamped “TNP” set for the Northeast corner of same; THENCE North 89'37'58" West along the North line of said Flores tract, for a distance of 318.26 feet tothe POINT OF BEGINNING, and containing 71.034 acres of land, more or less. 1/14/2022 1/14/2022 17 ! ! ! ! ! ! ! ! ! !!! ! !!I ! ii! ! !!! i fi! ! !i! ! !!! ! iiii II8 IICi I ! ! i ! ! ! ! ii: i Id31;i !!!liIti !! !! : !k ! ! iii , i :1Ii !!!! -JI Bar b n + +pr; iii::g«!! ! q r = j ;jg i h DacuSign Envelope ID: 13774D59-693B-4F4E-8F52-CDEB6053A834 EXHIBIT “B”TOCONTRACT OF SALE NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON.YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWINGINFORMATION FROM ANY INSTRUMENT THAT TRANSFERS AN INTEREST INREAL PROPERTY BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS:YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER’S LICENSE NUMBER. SPECIAL WARRANTY DEED STATE OF TEXAS § COUNTY OF DENTON g KNOW ALL MEN BY THESE PRESENTS That Michael Davidson and Penny Davidson (herein called “Grantor”), whose address is 5433 State Highway 160, Whitewright, Texas 75491, 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 (herein called “Grantee”), 215 E. McKinney, Denton, Texas 76201, the receipt and sufficiency of which are hereby acknowledged and confessed, 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 Exhibit “A,” attached hereto and made a part hereof for all purposes, 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”). Grantor, subject to the limitation of such reservation made herein, reserves, for itself, its heirs, devisees, successors, and assigns all oil, gas, and other minerals in, on, and under and that may be produced from the Property. Grantor, its heirs, devisees, successors, and assigns shall not have the right to use or access the surface of the Property, in any way, manner, or form, in connection with or related to the reserved oil, gas, and other minerals and/or related to exploration and/or production of the oil, gas, and other minerals reserved herein, including 18 DocuSign Envelope ID: 13774D59-693B4F4E-8F52-CDEB6053A834 without limitation, use or access of the surface of the Property for the location of any well or drill sites, well bores, whether vertical or any deviation from vertical, water wells, pit areas, seismic activities, tanks or tank batteries, pipelines, roads, electricity or other utility infrastructure, and/or for subjacent or lateral support for any surface facilities or well bores, or any other infrastructure or improvement of any kind or type in connection with or related to the reserved oil, gas, and other minerals, and/or related to the exploration or production of same. As used herein, the term “other minerals” shall include oil, gas, and all associated hydrocarbons and shall exclude (i) all substances that any reasonable extraction, mining, or other exploration and/or production method, operation, process, or procedure would consume, deplete, or destroy the surface of the Property; and (ii) all substances which are at or near the surface of the Property. The intent of the parties hereto is that the meaning of the term “other minerals” as utilized herein, shall be in accordance with that set forth in Reed v. Wylie, 597 S. W.2d 743 (Tex. 1980). As used herein, the term “surface of the Property” shall include the area from the surface of the earth to a depth of five hundred feet (500’) below the surface of the earth and all areas above the surface of the earth. Grantor hereby assigns to Grantee, without recourse 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 . TO HAVE AND TO HOLD the Property, together with all and singular the rights and appurtenances thereto in an)'wise belonging unto Grantee and Grantee’s successors and assigns forever; and Grantor does hereby 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. EXECUTED the day of _, 2022. 19 DocuSign Envelope ID: 13774D59-693B4F4E-8F52-CDEB6053A834 BY: Michael Davidson BY: Penny Davidson ACKNOWLEDGMENT THE STATE OF § COUNTY OF § This instrument was acknowledged before me onon behalf of 20 by Notary Public, State of Texas My commission expires: ACKNOWLEDGMENT THE STATE OF § COUNTY OF § This instrument was acknowledged before me onon behalf of _,20 by Notary Public, State of Texas My commission expires: Upon Filing Return To: City of DentonReal Estate Division 401 N. Elm Street Denton, TX 76201 Ann: DeAnna CodyReal Estate Division Property Tax Bills To: City of Denton Finance Department 215 E. McKinney Street Denton, Texas 76201 20 DocuSign Envelope ID: 13774D59-693B-4F4E-8F52-CDEB6053A834 EXHIBIT “A“ BEING a 71.034 acre tract of land situated in the Jonathan Douthit Survey, Abstract No. 329 and theJohn West Survey, Abstract No. 1331, Denton County, Texas, and being part of that certain tract of landdescribed in a Deed to Michael Davidson, as recorded in Document No. 2006-44628 of the Official Records of Denton County, Texas, and being more particularly described as follows BEGINNING at a 1/2 inch iron rod with cap stamped “GEER 4117'’ found for corner in the West line of the above cited Michael Davidson tract, said point being the Northwest corner of that certain 6.000 acre tractof land described in a Deed to Moisony Jordan Flores, as recorded in Document No. 2021-21376 of the Official Records of Denton County, Texas, from which a 7 inch wooden fence corner post found for theSouthwest corner of said Michael Davidson and Flores tract bears South 02'54'20” West a distance of821.80 feet THENCE North 02'54'20" East along the West line of said Michael Davidson tract, for a distance of368.78 feet to a 1/2 inch iron rod with cap stamped “GEEF: 4117” found for the Southwest corner of thatcertain 6.000 acre tract of land described in a Deed to Roger Davidson, as recorded in Document No.2006-39347 of the Official Records of Denton County, Texas; THENCE South 87'05'33" East along the South line of said Roger Davidson tract, for a distance of465.98 feet to a 1/2 inch iron rod with cap stamped “GEER 4117” found for the Southeast corner of same; THENCE North 02'54'27" East along the East line of said Roger Davidson tract, for a distance of 560.86feet to a 1/2 inch iron rod with illegible cap found for the Northeast corner of same; THENCE North 87'05’33" West along the North line of said Roger Davidson tract, for a distance of466.00 feet to a 1/2 inch iron rod with cap stamped “GEEFR 4117” found for the Northwest corner of same,and being in the West line of said Michael Davidson tract; THENCE North 02'54'20" East along the West line of said Michael Davidson tract, for a distance of 888.57 feet to a 5/8 inch iron rod with cap stamped “TNP“ set for the Northwest corner of same; THENCE South 84'29'44'' East along the North line of said Michael Davidson tract, for a distance of161.94 feet to a point in the approximate center of Clear Creek; THENCE along the meanders of Clear Creek as follows: South 41'35'05" West for a distance of 42.73 feet to a point;South 27'12'40" West for a distance of 88.88 feet to a point; South 25'25'42" East for a distance of 74.63 feet to a point;South 64'59'37" East for a distance of 57.88 feet to a point;South 89'59'57" East for a distance of 354.02 feet to a point;North 75'34'30" East for a distance of 72.89 feet to a point;North 59'C)4'01'’ East for a distance of 74.81 feet to a point: North 49'C)4'20" East for a distance of 104.00 feet to a point;North 54'24'46" East for a distance of 33.27 feet to a point;North 66'38'37" East for a distance of 164.34 feet to a point;South 49'44'46" East for a distance of 142.59 feet to a point;South 15'12'00" East for a distance of 270.00 feet to a point;South 32'21'26" East for a distance of 264.09 feet to a point;South 22'55'52" East for a distance of 486.40 feet to a point;South 41'17'33" East for a distance of 129.95 feet to a point;South 23'40'27" East for a distance of 399.58 feet to a point;South 28'34'31" East for a distance of 359.12 feet to a point;South 16'12’01" East for a distance of 449.39 feet to a point for the most Easterly Southeastcorner of said Michael Davidson tract and the Northeast corner of that certain 49.1 acre tract of 21 DocuSign Envelope ID: 13774D59-693B4F4E-8F52-CDEB6053A834 land described as Tract No. 2 in a Deed to the City of Dallas, Texas, as recorded in Volume 214Page 284 of the Deed Records of Denton County, Texas; THENCE North 89'09'25" West departing the approximate center of Clear Creek, along the South line ofsaid Michael Davidson tract and the North line of said 49.1 acre tract, passing a 1/2 inch iron rod foundfor reference at a distance of 1 16.62 feet, and continuing along the South line of said Michael Davidsontract. the North line of said 49.1 acre tract and the North line of that certain 31.80 acre tract of land described in a Deed to the City of Denton, Texas, as recorded in Document No. 2010-127042 of theOfficial Records of Denton County, Texas, for a distance of 1355.60 feet to a 5/8 inch iron rod with capstamped “TNP” set at the base of a broken 5 inch wooden fence corner post for an interior eII corner of said Michael Davidson Tract and the most Northerly Northwest corner of said 31.80 acre tract; THENCE South 03'13'37" West along the most Southerly East line of said Michael Davidson tract andthe West line of said 31.80 acre tract, for a distance of 419.04 feet to a 12 inch hackberry tree found for the most Southerly Southeast corner of said Michael Davidson tract and an interior eII corner of said31.80 acre tract, from which a 5/8 inch iron rod with cap stamped “TNP“ set for reference bears North89'35'23" West a distance of 3.00 feet; THENCE North 89'35'23" West along the South line of said Michael Davidson tract, passing a 1/2 inchiron rod with illegible cap found for the most Westerly Northwest corner of said 31.80 acre tract at adistance of 127.07 feet, and continuing along the South line of said Michael Davidson tract, for a totaldistance of 412.57 feet to a 1/2 inch iron rod with cap stamped “GEER 4117" found for the Southeast corner of the above cited Flores tract, from which a 7 inch wooden fence corner post found for theSouthwest corner of said Flores tract and Michael Davidson tract bears North 89'35'23" West a distance of 31 8.02 feet; THENCE North 02'55'18" East along the East line of said Flores tract, for a distance of 822.05 feet to a5/8 inch iron rod with cap stamped “TNP“ set for the Northeast corner of same; THENCE North 89'37'58" West along the North line of said Flores tract, for a distance of 318.26 feet to the POINT OF BEGINNING, and containing 71.034 acres of land, more or less. 1/14/2022 1/14/2022 22 ::,::; ! !B iiII i !I ! ! ! d, I ! Ii iIl !I } ii Ie ; ! ! ! i ! !gi ! ! It ! !E i!!iiit !! !!lili ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! I !I i !! i !!!!!!aE« / V'- 'I! T