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2005-103ORDINANCE NO. O OU-IO, fl AN ORDINANCE AUTHORIZING THE MAYOR TO EXECUTE AN AMENDMENT TO A TAX ABATEMENT AGREEMENT WITH FLOWERS BAKING CO. OF DENTON, LLC; DATED SEPTEMBER 19, 2003 FOR THE PURPOSE OF REDUCING THE LAND AREA THAT IS SUBJECT TO THE TAX ABATEMENT AGREEMENT; PROVIDING FOR A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, on the 2nd day of September 2003, after a public hearing duly held in accor- dance with Tex. Tax Code §312.201 (the "Act"), the City Council passed Ordinance No. 2003- 288 establishing Reinvestment Zone No. VI, City of Denton, Texas as a commercial/industrial reinvestment zone for tax abatement, as authorized by Title 3, Chapter 312, Subchapter B of the Act; and WHEREAS, pursuant to Ordinance No. 2003-289 the City of Denton and Flowers Bak- ing Co. of Denton, LLC ("Flowers") entered into that certain Tax Abatement Agreement having an effective date of September 19, 2003 (the "Tax Abatement Agreement"); and WHEREAS, Flowers has requested a First Amendment of the Tax Abatement Agree- ment, a copy of which is attached hereto and made a part hereof as Exhibit "A" (the "Amend- ment'') for the purpose of reducing the land area that is subject to the Tax Abatement Agreement; and WHEREAS, the City has complied with Sections 312.208 and 312.2041 of the Act, as the City has not later than the seventh day before the date of the Amendment delivered a written no- tice that the City intends to enter into the Amendment, along with a copy of the Tax Abatement Agreement and Amendment to the presiding officer of the governing body of each other taxing unit in which the subject property is located; and WHEREAS, the City Council deems it in the public interest to enter into the Amend- ment; NOW, THEREFORE, THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS: SECTION 1. The findings and recitations contained in the preamble to this ordinance are true and correct and are adopted as a part of the whole ordinance. SECTION 2. The Mayor, or in her absence, the Mayor Pro Tem, is hereby authorized to execute the Amendment on behalf of the City. SECTION 3. If any section, subsection, paragraph, sentence, clause, phrase, or word in this ordinance, or application thereof to any person or circumstance is held invalid by any court of competent jurisdiction, such holding shall not affect the validity of the remaining portions of this ordinance, the City Council of the City of Denton hereby declares that they would have en- acted such remaining portions despite any such validity. SECTION 4. This ordinance shall become effective immediately upon its passage and approval. PASSED AND APPROVED this the ~--~day of (~z~ ~, ,2005. EULINE BROCK, MAYOR ATTEST: JENNIFER WALTERS, CITY SECRETARY APPROVED AS TO LEGAL FORM: HERBERT L. PROUyf~ATTORNEY BY: ~~~~~'~ ' Page 2 After recording, return to: Jeff Greenway Troutman Sanders LLP Bank of America Plaza 600 Peachtree Street, N.E., Suite 5200 Atlanta, Georgia 30308-2216 FIRST AMENDMENT TO TAX ABATEMENT AGREEMENT THIS FIRST/AMENDMENT T~ TAX ABATEMENT AGREEMENT (this "Amendment") is dated as of the~,7,~ay of U/~ , 2005, by and between CITY OF DENTON, TEXAS (the "City), a political subdivision c~f the State of Texas, duly acting herein by and through its Mayor, and FLOWERS BAKING CO. OF DENTON, LLC, a Texas limited liability company, duly authorized to do business in the State of Texas and in good standing ("Flowers"). WITNESSETH: WHEREAS, Flowers owns a bakery facility located at 4210 Edwards Road, Denton, Texas 76208 (the "Bakery"); and WHEREAS, the City and Flowers are parties to that certain Tax Abatement Agreement dated September 19, 2003 (the "Agreement") pursuant to which Flowers and the City have agreed that during the term of the Agreement Flowers shall be entitled to an abatement for a portion of the ad valorem taxes payable each year with respect to the Bakery in return for the investment by Flowers in certain improvements to the Bakery; and WHEREAS, the "Promises" under the Agreement, and defined with greater particularity in Exhibit A to the Agreement, consists of approximately 91.921 acres of land (the "Original Premises"); and WHEREAS, Flowers intends to sell a portion of the land included in the Original Premises and described with greater particularity in Exhibit A attached hereto (the "Sale Parcel") and the parties desire to release the Sale Parcel from the Agreement, to remove the Agreement as encumbrance on the title to the Sale Parcel and to amend the definition of "Premises" accordingly. AGREEMENT: NOW THEREFORE, in consideration of the mutual promises contained herein and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the City and Flowers hereby agree as follows: 1. Release of Sale Parcel; Revised Premises. Effective as of the date hereof, the parties agree that (i) the Sale Parcel is released for all purposes from the duties, obligations, covenants and all other terms and conditions contained in the Agreement; (ii) it is their intent tbat the Agreement be removed as an encumbrance on the title to the Sale Parcel, and (iii) the definition of "Premises" in the Agreement shall be amended to mean the real property described in Exhibit B attached hereto and made a part hereof (the "Revised Premises"). 2. Miscellaneous. The Agreement, as herein modified, remains in full force and effect in 1435273__1 .DOC 1 accordance with its terms, the City and Flowers hereby ratifying and confirming the same. [signatures are on the next page] 1435273_1.DOC 2 IN WITNESS WHEREOF, the parties have executed this Amendment as of the date and year first above written. CITY: CITY OF DENTON, TEXAS Name: Eul±ne Brock Its: Mayor .(print or type name) Name/Jenni~ Walters Its: City Secretary (print or type name) By: '~ D Name: Edw±n SnydfrTDfputy C±ty Attorn~grintortypenam¢) Its: City Attorney ~/// FLOWERS: FLOWERS 7/AKING CO. OF DENTON, LLC Its: Treasurer 1435273_1 .DOC 3 CITY'S ACKNOWLEDGMENT STATE OF TEXAS COUNTY OF DENTON BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas, on this day personally appeared ~')3/l~ ~ ~/~FO~ , Mayor for the City of Denton, Texas, a political subdivision of the State of Texas, known to me to bl the person who signed and executed the foregoing instrument, and acknowledged to me that this instrument was executed for the purposes and consideration therein expressed. GIVEN UNDER MY HAND AND SEAL OF OFFICE this ~'-~ay of . 2005. N~{ary Public, State of- My commission expires: 1435273_1 .DOC 4 FLOWER*S ACKNOWLEDGMENT STATE OFM,/Iq~ r0~'I ~ ) ) COUNTY OF t ./,'hO~'~.~ ) BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas, on this day personally appeared Karyl H. Lauder, being the Treasurer of Flowers Baking Co. of Denton, LLC, known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that she executed the same for the purpose and consideration therein expressed, in the capacity therein stated as the act and deed of said entity. GIVEN UNDER MY HAND AND SEAL OF OFFICE this~r-~ day of ~,/~ , 2005. Notary Public, S'thte of My commission expires: I 1435273_1.DOC 5 EXHIBIT "A" DESCRIPTION OF SALE PARCEL ALL THAT CERTAIN TRACT OR PARCEL OF LAND lying and being situated in the G. Walker Survey Abstract Number 1330, Denton County, Texas, and being part of the called 27.4367 acre tract described in the Deed to Andrew Corporation, recorded in Volume 912, Page 790, Deed Records of Denton County, Texas, part of the called 8.773 acre tract described in the Deed to Andrew Corporation, recorded in Volume 912, Page 797 of the Deed Records of Denton County, Texas, part of the called 3,000 acre tract described in the Deed to Andrew Corporation, recorded in volume 912, Page 804 of the Deed Records of Denton County, Texas, part of the called 79.4992 acre tract, described in a Deed to Andrew Corporation, recorded in Volume 912, Page 821, Deed Records, Denton County, Texas, all of the 3.59 acres of land described in the Deed to Andrew Corporation, recorded under Clerk's File Number 96-R0014833 of the Real Property Records of Denton County, Texas, and part of Andrew Addition Phase One as shown by the plat thereof recorded in Cabinet B, Page 12 of the Plat Records of Denton County, Texas and being more particularly described as follows: Beginning at a found railroad spike at the northeast comer of the 27.4367 acre Andrew Tract in Edwards Road; Thence South 02 degrees 40 minutes 55 seconds West with the east line of the 27.4367 acre Andrew Tract a distance of 698.28 feet to a found iron pin at an angle point in the east line of the 27.4367 acre Andrew Tract; Thence South 02 degrees 43 minutes 42 seconds West continuing with the east line of the 27.4367 acre Andrew Tract a distance of 1249.03 feet to a found iron pin at the southeast comer of the 27.4367 acre Andrew Tract on the north line of the 22.967 acre tract to Juiie K. Clark recorded under Clerk's File Number 95-R0000602 of the Real Property Records of Denton County, Texas; Thence North 87 degrees 33 minutes 17 seconds West with the south line of the 27.4367 acre Andrew Tract a distance of 622.20 feet to a found iron pin at the Southwest comer of the 27.4367 acre Andrew Tract, the northwest comer of the 22.967 acre Clark Tract, the northeast comer of the 3.59 acre Andrew Tract, and the eastern most southeast comer of Andrew Addition; Thence South 03 degrees 19 minutes 02 seconds West with the east line of the 3.59 acre Andrew Tract and the west line of the 22.967 acre Clark Tract a distance of 472.97 feet to a fence comer post at an angle point in the east line of the 3.59 acre Andrew Tract and the northwest comer of the called 0.942 acre tract described in the Deed to Julie K. Clark recorded under Clerk's File Number 99-R0000310 of the Real Property Records of Denton County, Texas; Thence South 03 degrees 01 minute 21 seconds West continuing with the east line of the 3.59 acre Andrew Tract and the west line of the 0.942 acre Clark Tract a distance of 224.75 feet to a steel pipe at the southeast comer of the 3.59 acre Andrew Tract on the north right-of-way line of Pockrus Paige Road; 1435110_2.DOC C2- 1 Thence North 87 degrees 56 minutes 40 seconds West with the south line of the 3.59 acre Andrew Tract a distance of 218.61 feet to a steel pipe at the southwest comer of the 3.59 acre Andrew Tract and the southeast comer of the tract of land described in the Deed to Betty John Robertson recorded in Volume 2423, Page 932 of the Real Property Records of Denton County, Texas; Thence North 01 degree 47 minutes 13 seconds East with the west line of the 3.59 acre Andrew Tract and the east line of the Robertson Tract a distance of 683.38 feet to a found iron pipe at the northwest comer of the 3.59 acre Andrew Tract and the northeast comer of the called 3.980 acre tract to Kenneth D. Owen recorded in Volume 763, Page 137 of the Deed Records of Denton County, Texas, on a south line of Andrew Addition; Thence North 87 degrees 39 minutes 54 seconds West with a south line of Andrew Addition and the north line of the Owen Tract a distance of 363.71 feet to a found iron pin at an inner ell comer of Andrew Addition; Thence South 03 degrees 03 minutes 00 seconds West with an east line of Andrew Addition and the west line of the Owen Tract a distance of 397.16 feet to a found iron pin; Thence South 39 degrees 11 minutes 57 seconds East with an east line of Andrew Addition and the south line of the Owen Tract a distance of 382.68 feet to a found iron pin at the southern most southeast comer of Andrew Addition and the southern most southwest comer of the Owen Tract on the north right-of-way line of Pockrus Paige Road; Thence North 87 degrees 46 minutes 12 seconds West with a south line of Andrew Addition and the north right-of-way line of Pockrus Paige Road a distance of 26.57 feet to a found iron pin at the southern most southwest comer of Andrew Addition on the east right-of- way line of the Old M.K.T. Railroad; Thence North 39 degrees 14 minutes 16 seconds West with a west line of Andrew Addition a distance of 412.02 feet to a found iron pin at the beginning of a curve to the right; Thence with the east right-of-way line of the Old M.K.T. Railroad along said curve having a delta of 13 degrees 29 minutes 38 seconds, a radius of 2814.79 feet, an arc length of 662.92 feet (chord of North 32 degrees 31 minutes 18 seconds West a distance of 661.39 feet) to a 1/2 inch iron pin set with a yellow plastic cap stamped Metroplex 1849; Thence South 87 degrees 33 minutes 17 seconds East, a distance of 1302.08 feet to a 1/2 inch iron pin set with a yellow plastic cap stamped'Metroplex 1849; Thence North 02 degrees 43 minutes 42 seconds East, a distance of 1043.62 feet to a 1/2 inch iron pin set with a yellow plastic cap stamped Metroplex 1849; Thence North 60 degrees 11 minutes 50 seconds West, a distance of 294.75 feet to a 1/2 inch iron pin set with a yellow plastic cap stamped Metroplex 1849; 1435110_2.DOC C2 - 2 Thence North 03 degrees 08 minutes 54 seconds East, a distance of 587.48 feet to a 1/2 inch iron pin set with a yellow plastic cap stamped Metroplex 1849 on the south right-of-way line of Edwards Road; Thence South 86 degrees 44 minutes 08 seconds East with the south right-of-way line of Edwards Road a distance of 434.98 feet to a found iron pin; Thence North 03 degrees 30 minutes 26 seconds East a distance of 35.49 feet to a found railroad spike in Edwards Road on the north line of the 27.4367 acre Andrew Tract; Thence South 88 degrees 03 minutes 58 seconds East with the north line of the 27.4367 acre Andrew Tract a distance of 172.15 feet to the POINT OF BEGINNING and containing in all 29.539 acres of land. 1435110_2.DOC C2 - 3 EX H I BIT "B' DESCRIPTION OF REVISED PREMISES ALL THAT CERTAIN TRACT OR PARCEL OF LAND lying and being situated in the G. Walker Survey Abstract Number 1330, in the M.E.P. & P.R.R. Co. Survey Abstract Number 950, and in the D. Lambert Survey Abstract Number 784, Denton County, Texas, and being part of the called 27.4367 acre tract described in the Deed to Andrew Corporation, recorded in Volume 912, Page 790, Deed Records of Denton County, Texas, part of the called 8.773 acre tract described in the Deed to Andrew Corporation, recorded in Volume 912, Page 797 of the Deed Records of Denton County, Texas, part of the called 3.000 acre tract described in the Deed to Andrew Corporation, recorded in Volume 912, Page 804 of the Deed Records of Denton County, Texas, part of the called 79.4992 acre tract, described in a Deed to Andrew Corporation, recorded in Volume 912, Page 821, Deed Records, Denton County, Texas, all of the 3.59 acres of land described in the Deed to Andrew Corporation, recorded under Clerk's File Number 96- R0014833 of the Real Property Records of Denton County, Texas, and part of Andrew Addition Phase One as shown by the plat thereof recorded in Cabinet B, Page 12 of the Plat Records of Denton County, Texas and being more particularly described as follows: Beginning at a found raikoad spike at the northeast comer of the 27.4367 acre Andrew Tract in Edwards Road; Thence South 02 degrees 40 minutes 55 seconds West with the east line of the 27.4367 acre Andrew Tract a distance of 698.28 feet to a found iron pin at an angle point in the east line of the 27.4367 acre Andrew Tract; Thence South 02 degrees 43 minutes 42 seconds West continuing with the east line of the 27.4367 acre Andrew Tract a distance of 1249.03 feet to a found iron pin at the southeast comer of the 27.4367 acre Andrew Tract on the north hne of the 22.967 acre tract to Julie K. Clark recorded under Clerk's File Number 95-R0000602 of the Real Property Records of Denton County, Texas; Thence North 87 degrees 33 minutes 17 seconds West with the south line of the 27.4367 acre Andrew Tract a distance of 622.20 feet to a found iron pin at the Southwest comer of the 27.4367 acre Andrew Tract, the northwest comer of the 22.967 acre Clark Tract, the northeast comer of the 3.59 acre Andrew Tract, and the eastern most southeast comer of Andrew Addition; Thence South 03 degrees 19 minutes 02 seconds West with the east line of the 3.59 acre Andrew Tract and the west line of the 22.967 acre Clark Tract a distance of 472.97 feet to a fence comer post at an angle point in the east line of the 3.59 acre Andrew Tract and the northwest comer of the called 0.942 acre tract described in the Deed to Julie K. Clark recorded under Clerk's File Number 99-R0000310 of the Real Property Records of Denton County, Texas; Thence South 03 degrees 01 minute 21 seconds West continuing with the east line of the 3.59 acre Andrew Tract and the west line of the 0.942 acre Clark Tract a distance of 224.75 feet 1435273_2.DOC C2 - 4 to a steel pipe at the southeast comer of the 3.59 acre Andrew Tract on the north right-of-way line ofPockrus Paige Road; Thence North 87 degrees 56 minutes 40 seconds West with the south line of the 3.59 acre Andrew Tract a distance of 218.61 feet to a steel pipe at the southwest comer of the 3.59 acre Andrew Tract and the southeast comer of the tract of land described in the Deed to Betty John Robertson recorded in Volume 2423, Page 932 of the Real Property Records of Denton County, Texas; Thence North 01 degree 47 minutes 13 seconds East with the west line of the 3.59 acre Andrew Tract and the east line of the Robertson Tract a distance of 683.38 feet to a found iron pipe at the northwest comer of the 3.59 acre Andrew Tract and the northeast comer of the called 3.980 acre tract to Kenneth D. Owen recorded in Volume 763, Page 137 of the Deed Records of Denton County, Texas, on a south line of Andrew Addition; Thence North 87 degrees 39 minutes 54 seconds West with a south line of Andrew Addition and the north line of the Owen Tract a distance of 363.71 feet to a found iron pin at an inner ell comer of Andrew Addition; Thence South 03 degrees 03 minutes 00 seconds West with an east line of Andrew Addition and the west line of the Owen Tract a distance of 397.16 feet to a found iron pin; Thence South 39 degrees 11 minutes 57 seconds East with an east line of Andrew Addition and the south line of the Owen Tract a distance of 382.68 feet to a found iron pin at the southern most southeast comer of Andrew Addition and the southern most southwest comer of the Owen Tract on the north right-of-way line of Pockrus Paige Road; Thence North 87 degrees 46 minutes 12 seconds West with a south line of Andrew Addition and the north right-of-way line of Pockms Paige Road a distance of 26.57 feet to a found iron pin at the southern most southwest comer of Andrew Addition on the east right-of- way line of the Old M.K.T. Railroad; Thence North 39 degrees 14 minutes 16 seconds West with a west line of Andrew Addition a distance of 412.02 feet to a found iron pin at the beginning of a curve to the right; Thence with the east right-of-way line of the Old M.K.T. Railroad along said curve having a delta of 26 degrees 11 minutes 57 seconds, a radius of 2814.79 feet, an arc length of 1287.10 feet (chord of North 26 degrees I0 minutes 09 seconds West a distance of 1275.92 feet) to a found iron pin; Thence North 13 degrees 00 minutes 38 seconds West continuing with the east right-of- way line of the Old M.K.T. Railroad and the west line of Andrew Addition a distance of 1221.59 feet to a found iron pin at the beginning ora curve to the left; Thence continuing with the east right-of-way line of the Old M.K.T. Railroad along said curve having a delta of 09 degrees 53 minutes 43 seconds, a radius of 1959.24 feet, an arc length of 338.37 feet (chord of North 17 degrees 58 minutes 31 seconds West a distance of 337.99 feet) to a set iron pin with a yellow plastic cap stamped "Metroplex 1849" on the south right-of-way 1435273_2.DOC C2 - 5 line of Mayhill Road as described in the Street Right-of-Way Deed to the City of Denton recorded in Volume 4936, Page 1841 of the Real Property Records of Denton County, Texas at the beginning of a curve to the left; Thence with the south right-of-way line of Mayhill Road along said curve having a delta of 01 degree 17 minutes 13 seconds, a radius of 540.00 feet, an arc length of 12.13 feet (chord of North 66 degrees 07 minutes 51 seconds East a distance of 12.13 feet) to a set "X" in concrete at the intersection of the south right-of-way line of Mayhill Road and the west right-of-way line of Edwards Road as described in the Street Right-of-Way Deed to the City of Denton recorded in Volume 4936, Page 1841 of the Real Property Records of Denton County, Texas; Thence South 27 degrees 41 minutes 50 seconds East with the west right-of-way line of Edwards Road a distance of 147.27 feet to a set iron pin with a yellow plastic cap stamped "Metroplex 1849" at the beginning of a curve to the left; Thence continuing with the west right-of-way line of Edwards Road along said curve having a delta of 59 degrees 01 minute 36 seconds, a radius of 330.00 feet, an arc length of 339.97 feet (chord of South 57 degrees 12 minutes 38 seconds East a distance of 325.13 feet) to a set iron pin with a yellow plastic cap stamped "Metroplex 1849"; Thence South 86 degrees 44 minutes 08 seconds East with the south right-of-way line of Edwards Road a distance of 1797.84 feet to a found iron pin; Thence North 03 degrees 30 minutes 26 seconds East a distance of 35.49 feet to a found railroad spike in Edwards Road on the north line of the 27.4367 acre Andrew Tract; Thence South 88 degrees 03 minutes 58 seconds East with the north line of the 27.4367 acre Andrew Tract a distance of 172.15 feet to the POINT OF BEGINNING and containing in all 91.921 acres of land. LESS AND EXCEPT THE FOLLOWING PARCELs ALL THAT CERTAIN TRACT OR PARCEL OF LAND lying and being situated in the G. Walker Survey Abstract Number 1330, Denton County, Texas, and being part of the called 27.4367 acre tract described in the Deed to Andrew Corporation, recorded in Volume 912, Page 790, Deed Records of Denton County, Texas, part of the called 8.773 acre tract described in the Deed to Andrew Corporation, recorded in Volume 912, Page 797 of the Deed Records of Denton County, Texas, part of the called 3,000 acre tract described in the Deed to Andrew Corporation, recorded in volume 912, Page 804 of the Deed Records of Denton County, Texas, part of the called 79.4992 acre tract, described in a Deed to Andrew Corporation, recorded in Volume 912, Page 821, Deed Records, Denton County, Texas, all of the 3.59 acres of land described in the Deed to Andrew Corporation, recorded under Clerk's File Number 96-R0014833 of the Real Property Records of Denton County, Texas, and part of Andrew Addition Phase One as shown by the plat thereof recorded in Cabinet B, Page 12 of the Plat Records of Denton County, Texas and being more particularly described as follows: Beginning at a found railroad spike at the northeast comer of the 27.4367 acre Andrew Tract in Edwards Road; 1435273_2.DOC C2 - 6 Thence South 02 degrees 40 minutes 55 seconds West with the east line of the 27.4367 acre Andrew Tract a distance of 698.28 feet to a found iron pin at an angle point in the east line of the 27.4367 acre Andrew Tract; Thence South 02 degrees 43 minutes 42 seconds West continuing with the east line of the 27.4367 acre Andrew Tract a distance of 1249.03 feet to a found iron pin at the southeast comer of the 27.4367 acre Andrew Tract on the north line of the 22.967 acre tract to Julie K. Clark recorded under Clerk's File Number 95-R0000602 of the Real Property Records of Denton County, Texas; Thence North 87 degrees 33 minutes 17 seconds West with the south line of the 27.4367 acre Andrew Tract a distance of 622.20 feet to a found iron pin at the Southwest comer of the 27.4367 acre Andrew Tract, the northwest comer of the 22.967 acre Clark Tract, the northeast comer of the 3.59 acre Andrew Tract, and the eastern most southeast comer of Andrew Addition; Thence South 03 degrees 19 minutes 02 seconds West with the east line of the 3.59 acre Andrew Tract and the west line of the 22.967 acre Clark Tract a distance of 472.97 feet to a fence comer post at an angle point in the east line of the 3.59 acre Andrew Tract and the northwest comer of the called 0.942 acre tract described in the Deed to Julie K. Clark recorded under Clerk's File Number 99-R0000310 of the Real Property Records of Denton County, Texas; Thence South 03 degrees 01 minute 21 seconds West continuing with the east line of the 3.59 acre Andrew Tract and the west line of the 0.942 acre Clark Tract a distance of 224.75 feet to a steel pipe at the southeast comer of the 3.59 acre Andrew Tract on the north right-of-way line of Pockrus Paige Road; Thence North 87 degrees 56 minutes 40 seconds West with the south line of the 3.59 acre Andrew Tract a distance of 218.61 feet to a steel pipe at the southwest comer of the 3.59 acre Andrew Tract and the southeast comer of the tract of land described in the Deed to Betty John Robertson recorded in Volume 2423, Page 932 of the Real Property Records of Denton County, Texas; Thence North 01 degree 47 minutes 13 seconds East with the west line of the 3.59 acre Andrew Tract and the east line of the Robertson Tract a distance of 683.38 feet to a found iron pipe at the northwest comer of the 3.59 acre Andrew Tract and the northeast comer of the called 3.980 acre tract to Kenneth D. Owen recorded in Volume 763, Page 137 of the Deed Records of Denton County, Texas, on a south line of Andrew Addition; Thence North 87 degrees 39 minutes 54 seconds West with a south line of Andrew Addition and the north line of the Owen Tract a distance of 363.71 feet to a found iron pin at an inner ell comer of Andrew Addition; Thence South 03 degrees 03 minutes 00 seconds West with an east line of Andrew Addition and the west line of the Owen Tract a distance of 397.16 feet to a found iron pin; Thence South 39 degrees 11 minutes 57 seconds East with an east line of Andrew Addition and the south line of the Owen Tract a distance of 382.68 feet to a found iron pin at the 1435273_2.DOC C2 - 7 southern most southeast comer of Andrew Addition and the southern most southwest comer of the Owen Tract on the north right-of-way line ofPockrus Paige Road; Thence North 87 degrees 46 minutes 12 seconds West with a south line of Andrew Addition and the north right-of-way line of Pockrus Paige Road a distance of 26.57 feet to a found iron pin at the southern most southwest comer of Andrew Addition on the east right-of- way line of the Old M.K.T. Railroad; Thence North 39 degrees 14 minutes 16 seconds West with a west line of Andrew Addition a distance of 412.02 feet to a found iron pin at the beginning of a curve to the right; Thence with the east right-of-way line of the Old M.K.T. Raikoad along said curve having a delta of 13 degrees 29 minutes 38 seconds, a radius of 2814.79 feet, an arc length of 662.92 feet (chord of North 32 degrees 31 minutes 18 seconds West a distance of 661.39 feet) to a 1/2 inch iron pin set with a yellow plastic cap stamped Metroplex 1849; Thence South 87 degrees 33 minutes 17 seconds East, a distance of 1302.08 feet to a 1/2 inch iron pin set with a yellow plastic cap stamped Metroplex 1849; Thence North 02 degrees 43 minutes 42 seconds East, a distance of 1043.62 feet to a 1/2 inch iron pin set with a yellow plastic cap stamped Metroplex 1849; Thence North 60 degrees 11 minutes 50 seconds West, a distance of 294.75 feet to a 1/2 inch iron pin set with a yellow plastic cap stamped Metroplex 1849; Thence North 03 degrees 08 minutes 54 seconds East, a distance of 587.48 feet to a 1/2 inch iron pin set with a yellow plastic cap stamped Metroplex 1849 on the south right-of-way line of Edwards Road; Thence South 86 degrees 44 minutes 08 seconds East with the south right-of-way line of Edwards Road a distance of 434.98 feet to a found iron pin; Thence North 03 degrees 30 minutes 26 seconds East a distance of 35.49 feet to a found raikoad spike in Edwards Road on the north line of the 27.4367 acre Andrew Tract; Thence South 88 degrees 03 minutes 58 seconds East with the north line of the 27.4367 acre Andrew Tract a distance of 172.15 feet to the POINT OF BEGINNING and containing in all 29.539 acres of land. 1435273_2.DOC C2 - 8