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2000-320m~n~c~:~o~ [ 2ooo-~2o I Additional File Exists Additional File Contains Records Not Public, According to the Public Records Act Other - Termination of Agreement FILE(S) Date Initials Termination of Restrictive Covenants and Memorandum of Annexation and Consent Agreemem 3/15/01 JW ORDINANCE NO ~00-~0 AN ORDINANCE APPROVING AN ANNEXATION AND CONSENT AGREEMENT BETWEEN THE CITY OF DENTON AND THE EQUESTRIAN DEVELOPMENT CORPORATION, RELATING TO THE ESTABLISHMENT OF A COUNTY DEVELOPMENT DISTRICT WITHIN THE CITY'S EXTRATERRITORIAL JURISDICTION, AND PROVIDING AN EFFECTIVE DATE WHEREAS, the Equestnan Development Corporation of North Texas (the "Corporation") has requested that the City consent to the establishment of a County Development District ("CDD") within the City's extraterritorial junsdmtlon pursuant to the provisions of Chapter 383 of the Texas Local Government Code, and WHEREAS, the City and the Corporation desire to enter ~nto and agreement to set forth the terms and conchtlons of the C,ty's consent and related matters pertmmng to the CDD and the proposed development, a copy of smd agreement being attached hereto and made a part hereof for all purposes (the "Agreement"), and WHEREAS, the City Council of the City of Denton, Texas finds and determines that the Agreement is in the pubhc ~nterest THE COUNCIL OF THE CITY OF DENTON, TEXAS HEREBY ORDAINS SECTION 1 The Agreement is hereby approved The Mayor of the C~ty of Denton is hereby authorized to execute the Agreement on behalf of the City of Denton SECTION 2 The findings and rec,tatlons in the preamble of this ordinance are substantive and are incorporated into the body of this ordinance as ff fully set forth therein SECTION 3 This ordinance shall become effective lmmedmtely upon its passage and approval PASiSED AND APPROVED this the /a~ ~ day of 3~/~/~jff~ ,2000 EULINE BROCK, MAYOR ATTEST JEN~FER WALTERS, C~tFY SECRETARY BY r~'7--A-"-~/ ~-- ANNEXATION AND CONSENT AGREEMENT 2000, by and between the C,ty of Denton, (the "City), and Equestrian Development Corporatmn of North Texas, a Texas Corporation, owner of certain real property as described ,n Exinint "A" attached hereto and incorporated herein by reference (thc "Development Corporatmn"), winch lies w,tinn the extraterritorial junsdmtmn of the C,ty (the "Property"), and WHEREAS, the Development Corporation des,res the consent of the City for the creatmn of a County Development D,stnct ("CDD') pursuant to the proms,ons of Chapter 383, Texas Local Government Code, to ass,st with the financ,ng of the Property's development (the "Development"), and WHEREAS, the C~ty has heretofore lnst,tuted proceedings to annex the Property into the city hmlts of the C,ty but has not yet completed such annexation proceed,ngs, and WHEREAS, the Development Corporation has requested that the City agree not to annex the Property for a period of five years from the first funding of the CDD or January 1, 2006, whichever occurs first, and WHEREAS, the C,ty and the Development Corporatmn have entered into tins Agreement to set forth the terms and conditions by which the CDD will be established and annexation of the Property w, ll be accomphshed, NOW THEREFORE, in consideration of $10 and other good and valuable consideration, the receipt and sufficiency of winch ,s hereby acknowledged by each party, mcluchng the mutual promises and covenants contained hereto and subject to the conditions hereinafter set forth, the City and the Development Corporation hereby agree as follows 1 The City consents and the Development Corporation agrees to the establishment ofa CDD for the Property and to delay annexation of the Property upon the followmg conditions a The Property shall be developed for tourist related businesses including a 6,000 to 10,000 seat mult,-use arena, w,th the primary emphasm on a horse arena, a 100 to 300 room hotel, a golf course and a not to exceed 99 lot res,dentrol subd,msmn, generally ,n accordance w,th the concept plan attached hereto as Exhlb,t "B" winch ,s ,ncorporated here,n by reference All property owners of the Property shall voluntarily comply w~th the C,ty's subdlws,on and zomng regulat,ons ~n effect at the t,me of development S \Our Documenls\Conlraets\00~ANNEX CONS AGRM_FINAL3 doc b The City shall provide and all property owners of the Property shall agree to receive and pay for C~ty water, sewer, solid waste, electric power, and police and fire services on the same terms and conditions as if the Property were within the City hmxts, except that police and fire services shall be paid for Such provision of services by the City will be provided pursuant to service agreements to be entered ~nto between the City and the property owners However, the building and extension of water and sewer hnes and other Infrastructure necessary to serve the Property shall be at the sole expense of the property owners of the Property, subject to pro-rata reimbursements from other property owners ~n accordance with the C~ty's pro-rata pohcles c Should any of the Property or improvements thereon be owned by the CDD and should such property and/or Improvements be tax exempt, the owners of such property shall, upon annexation and contlnmng thereafter so long as said property is tax exempt make payments to the City in heu of taxation as provided in this section The payments in heu of taxes shall be equivalent to the amount of ad valorem taxes that would have been assessed agmnst the Property had it not been owned by the CDD The payments shall be an annual fee due and payable on January I of each year and shall be based on the assessed value of all property, real, personal, and mixed, owned by the CDD The term "assessed value" means the appraised value of all property of the CDD as is determined by the Denton Central Appraisal District (the "Appraisal District") for the year in which the payment is due The annual fee shall be calculated by the following formula Assessed Value - 100 x the current year's city tax rate = Annual Fee If the CDD property owners fall to pay the Annual Fee when due, the City may collect the Annual Fee in the same manner an accordance with the same rights and remedies available for ad valorem taxes, including without limitation, the collection of penalties, interest, and attorney fees A first and prior hen to secure the collection of the Annual Fee, together with penalties, interest and attorney fees shall is hereby estabhshed against the property owned by the CDD If the Appraisal Dmtrlct requires compensation for its apprmsal services, the CDD property owners shall be responsible for the payment of such compensation Prior to the adoption of the order of the County Commissioner's Court establishing the CDD, similar agreements for payments in S \Our Documents\Contracts\00~ANNEX CONS AGRM_FINAL3 doc ? heu of taxation wall be entered ~nto w~th the Denton Independent School D~stnct Should the Property or any port~on thereof for any reason, ~ncludmg, w~thout 1,nntat~on by operatmn of law, not be annexed ~nto the C~ty on the Voluntary Annexation Date as promded ~n Section 2 below, all property owners of the Property, whether or not owned by the CDD shall make payments ~n heu of taxes to the C~ty ~n the same manner as provided above Enforcement of th~s covenant shall be ~n the same manner as prowded above, ~nclud~ng w~thout hm~tat~on the first and prior hen to secure the payment ~n heu of taxes Th~s covenant shall continue until such property ~s annexed into the C,ty d The C~ty will permit the Development Corporation to mtmn all monies collected as part of the hotel occupancy tax, pursuant to the Texas Tax Code Ann § 352 107 for the duration of the original ~ssuance of bonds 2 The C,ty w~ll not annex the Property ~nto the C~ty's hm~ts until the fifth anmversary of the first fnnd~ng of CDD financing, or January 1, 2006, whichever occurs first, (the "Voluntary Annexation Date") subject to the following a The fulfillment of the cond, t~ons set forth ~n paragraph 1 above b The consummatmn of the purchase of the Property by the Development Corporation no later than October i, 2000, at which time th~s Agreement shall be ass,gned to and the obhgat~ons here~n shall be assumed by the legal entity that takes t~tle to the Property on behalf of the Development Corporation c The approval of the CDD by the Denton County Commissioner's Court no later than October 10, 2000 d The selhng of the first bonds for the CDD no later than September 2001 e The commencement of construction for the arena at a m~mmum construction cost of $18 m~lhon no later than January 1, 2002 f The commencement of constmctmn for the hotel/motel at a nnmmum constructmn cost of $10 mdhon no later than January 1, 2002 g The commencement of constructmn for res~dentml ~nfrastructure of a m~n, mum cost of$1 5 m~lhon no later than January 1, 2002 S \Our Doeuments\Contracts\00~ANNEX CONS AGRM_FINAL3 doc If any of the above conditions are not completely fulfilled, in the sole judgment of the City, which judgment is not reversible, (the "Early Voluntary Annexation") or upon the Voluntary Annexation Date, the City may beg~n annexation proceedings on all or any part of the Property Early Voluntary Annexation will not occur if the Development Corporatmn cures the breach pursuant to paragraph 5 Such annexation shall be considered a voluntary request for annexatton by all owners of the Property In that regard, the Development Corporation and all future owners of the Property, excluding Donald J Carter, his heirs and personal representatives, covenant and agree that such annexation is voluntarily made and shall be considered to be by petition of the owners of the Property at the ttme of such annexation Th~s covenant shall be a covenant running with the land and shall be binding on the owner of the Property and all future owners thereof, as ff such owners signed a voluntary petnton for annexation at the time of such annexation This voluntary consent to annexation is ~rrevocable If the property ownership reverts back to Donald J Carter, hts he~rs and personal representattves, tfus Agreement is null and vmd Further, th~s Agreement shall be null and void tfthe CDD ts ~nvahdated by a court 3 The parties agree to the following condtt~ons w~th regard to the CDD a The d~rectors of the CDD shall consist of two destgnees by the City, two by Denton County and one by the Development Corporation, and the Board of Dtrectors shall be so mamtarned The Denton County Order establishing the CDD shall contmn th~s provlmon b The Board shall not pent,on the Commtss~oners Court of Denton County for the addition of land to the CDD w~thout the written approval of the C~ty and of the owner of the land to be added The Denton County Order estabhsh~ng the CDD shall contmn this provision c The CDD at its confirmation election shall include a V2 of 1 cent sales tax proposition If such sales tax ts approved, and after the m~ttal bonds have been repmd, ~f the City destre~ to increase tts sales tax so that when combined w~th the CDD's V2 cent sales tax the total local sales tax in the CDD area wall exceed two cents, then the CDD sales tax will be reduced or abohshed to the extent that the combined rates of local sales taxes wall equal two cents 4 The covenants contained heretn touch and effect the Property and are covenants running w~th the land described hereto as the Property, and are b~nd~ng upon the owners of such Property and all future owners thereof The C~ty and the Development Corporatton and all owners of the Property as of the date of this Agreement and as of the date of recording of the below described Memorandum of Agreement, shall enter ~nto a notme of Restrictive Covenants and Memorandum of Annexatton and Consent Agreement (the "Memorandum of Agreement") in substantmlly the same form as the Memorandum of Agreement attached hereto and made a part hereof as Exhibit "C", whmh shall be recorded in the Land Records of Denton County, Texas In add~tmn, 4 S \Our Doc~ments\Contraets\00~ANNEX CONS AGRM_FINAL3 doc all final plats of any port~on of the Property shall contain the following not~ce ~n bold pnnt ALL OWNERS OF ANY PORTION OF THE PROPERTY SHOULD REVIEW THE ANNEXATION AGREEMENT ON FILE IN THE CITY SECRETARY'S OFFICE OF THE CITY OF DENTON REGARDING RESTRICTIVE COVENANTS FOR THE BENEFIT OF THE CITY 5 In the event of a breach of this Agreement, the breaching party shall have 180 days from written not~ce of such breach from the other party to cure the breach If the breaching party fa21s to cure the breach within that time period, the other party may terminate this Agreement and/or pursue any of its remedies at law or equity Notices shall be sent to the parties at the following addresses Equestrian Development Corporation C~ty of Denton of North Texas City Manager 215 East McK~rmey Ed P~ckett, President Denton, Texas 76201 3952 PR 2718 Aubrey, Texas 76227 6 The Development Corporation hereby releases, mdemmfies and holds harmless the C~ty for any damages it may suffer as a result of the Development Corporation's failure to perform any obhgatlons or covenants of this Agreement 7 Th~s Agreement is performable in Denton County, Texas, and any litigation concerning this Agreement shall be tried ~n a court of competent lunsdmt~on sitting m Denton County, Texas IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly executed as of the date first written above EQUESTRIAN DEVELOPMENT co. opTiON OF NOVj T. S. CITY OF DENTON, TEXAS Euhne Brock, Mayor ,~TEST~) '" ~lfer~ Walters Ctty Secretary 5 \Our Documents\Contracts\00~ANNEX CONS AGRM_FINAL3 doc APPROVED AS TO FORM HERBERT. I;~ROUTY, J2!~Y ATTORNEY BY' "~'~~ STATE OF TEXAS § COUNTY OF DENTON § ~ This mstrament was acknowledged before me on the/'~ day of q~_/~od~''~, 2000, by Edwin G Pickett, President of the Equestrian Development C~or~oratlon of North Texas, on behalf of said corporation LISA PELLEY i " ' ~p~,~e~r~ Not~-y P~lC, in ~d for ~e State of Texas My Commission Expires /~ ~/ ~ ~ STATE OF TEXAS § COUNTY OF DENTON § . f', // This instrument was acknowledged before me on the J~da/~0, by Euhne Brock, Mayor of the City of Denton, Texas, o--hr be~ ot~ s~/~e'City, ,' ~--~A~ F~'-~R$--~,TH~ Notary Pubh~ ~; ~d for~ Stat~fTexas 6 S \Our Do~uments\Contracts\00~ANNEX CONS AGRM_FINAL3 doc EXHIBIT "A" The Property ~onsists of two parcels of land being a 283 734 acre parcel (Parcel "1") and a 292 403 acre parcel (Parcel "2") described as follows PARCEL 1 ALL THAT CERTAIN TRACT OR PARCEL OF LAND LYING AND BEINC SITUATED IN THE WILLIAMS sURVEY, ABSTRACT NUMBER 1417 AND VE GAILOR SURVEY ABSTRACT 452, DENTON COUNTY, TEXAS, AND BEING A OF A CERTAIN (CALLED) 63 5877 ACRE TRACT AND A 2_20 5.58 ACRE TRACT, DEEDED BY HOME INTERIORS & GIFTS, INC TO DONALD J CARTER AND WIFE LINDA JO CARTER ON THE 1ST DAY OF AUGUST 1994 ANO RECORDED BY coUNTY CLERKS FILE NUMBER 94-R0065442, REAL PROPERTY RECORDS OF DENTON cOUNTY, TEXAS, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS BEGINNING AT A FENCE CORNER POST AT THE sOUTHWEST CORNER OF SAID 220 557 ACRE TRACT, BEING AN INNER ELL CORNER OF A TRACT OF LAND DESCRIBED IN A OEED TO JEANIE WATSON KUHLKEN RECORDED IN vOLUME 2955 PAGE 544 REAL PROPERTY RECORDS, DENTON COUNTY TEXAS, THENCE NORTH 05 DEGREES 59 MINUTES 06 SECONDS EAST, ALONG AND NEAR A FENCE WITH THE EAST LINE OF SAID KUHLKEN TRACT AND A WEST LINE OF SAID 220 557 ACRE TRACT, A DISTANCE OF 1,511 90 FEET TO A FOUND ~ INCH IRON AT THE NORTHERNMOST NORTHEAST CORNER OF SAID KUHLKEN TRACT, SAID PIN BEING ON THE sOUTH LINE OF A TRACT OESCRIBED I'N A DEED TO CHAIN 7 RANCH L P RECORDED UNDER couNTY CLERKS FILE NUMBER 97-R00255955, REAL PROPERTY RECOROS DENTON cOUNTY, TEXAS THENCE soUTH 87 DEGREES 11 MINUTES 52 SECONOS EAST ALONG AND NEAR A FENCE WiTH A sOUTH LINE OF SAID CHAIN 7 RANCH LP TRACT A DISTANCE OF 11295 FEET TO A FOUND 1/~ INCH iRON PiN AT THE SOUTHERNMOST soUTHEAST CORNER OF SAID CHAIN 7 RANCH LP, TRACT, THENCE NORTH 03 DEGREES 54 MINUTES 43 SECONDS EAST ALONG AND NEAR A FENCE WITH A EAST LINE OF SAID CHAIN '7 RANCH L P TRACT AND A WEST LINE OF SAID 220 557 ACRE TRACT, A DISTANCE OF 2,245 16 FEET TO A FOUND "/~ INCH IRON PiN AT THE NORTHWEST cORNER OF SAID 220 557 ACRE TRACT, BEINO AN INNER ELL CORNER OF SAID CHAIN 7 RANCH L P TRACT, THENCE sOUTH 88 DEGREES 35 MINUTES 40 SECONDS EAST, ALONG AND NEAR A FENCE WiTH A NORTH LINE OF SAID 220 55'7 ACRE TRACT AND A sOUTH LINE OF SAID CHAIN 7 RANCH L P TRACT A DISTANCE OF 2,577 55 FEET TO A FOUND '~,'~ INCH IRON PiN AT THE NORTHEAST CORNER OF SAID 220 557 ACRE TRACT SAIO PiN BEING ON A WEST LINE OF A TpAr..T DESF'~,I?E[' tN A DFFD TC~ ]FFFFRY W NC)E AND IFANIF T NOT RECORDED IN VOLUME 28'79 PAGE ..544, REAL PROPERTY RECORDS DENTON coUNT"(, TEXAS, THENCE sOUTH O1 DEOREES 25 MINUTES 07 SECONDS WEST, ALONG AND NEAR A FENCE WiTH A WEST LINE OF SAID NOE TRACT ANO A EAST LINE OF SAID 220 557 ACRE TRACT A I/2' DISTANCE OF 1,110 56 FEET TO A FENCE CORNER POST AT THE sOUTHWEST cORNER OF PIN SAID NOE TRACT AND THE NORTHWEST coRNER OF SAID 63 5877 ACRE TRACT, THENCE sOUTH 86 DEGREES 0,3 MINUTES ,33 SECONDS EAST ALONG AND NEAR A FENCE WITH THE sOUTH LINE OF SAID NOE TRACT AND THE NORTH BOUNDARY LINE OF 63 5877 ACRE TRACT, A DISTANCE OF 829 52 FEET TO A FENCE CORNER POST THENCE sOUTH 87 DEGREES 04 MINUTES .39 SECONDS EAST ALONG AND NEAR A FENCE WITH THE SOUTH BOUNDARY LINE OF SAID NOE TRACT AND WITH THE NORTH LINE OF SAID 6.~ 5877 ACRE TRACT A DISTANCE OF 1,004 90 FEET TO A SET s/~ INCH IRON PIN wITH A YELLOW CAP STAMPED H&N 1849 AT THE NORTHWEST CORNER OF SAID 635877 AcRE TRACT BEING THE sOUTHEAST CORNER OF SAID NOE TRACT SAID PiN ALSO BEING ON THE wEST RIGHT-OF-WAY LINE OF F M ROAD 428 (A 100 FOOT RiGHT-OF-WAY), Page 1 o£ 7 THENCE SOUTH 55 DEGREES 44 MINUTES 10 SECONDS WEST WITH THE EAST LINE OF SAID 63 .5877 ACRE TRACT AND THE WEST RIGHT-OF-WAY LiNE OF F M ROAD 428, A DISTANCE OF 2 94-0 34 FEET TO A SET 1/,~ INCH IRON PIN WITH A YELLOW CAP STAMPED H&:N 1849 AT THE SOUTHEAST CORNER OF SAID 220 577 ACRE TRACT AND THE NORTHEAST CORNER OF SAID kUHLKEN TRACT, THENCE NORTH 86 DEGREES 06 MINUTES .31 SECONDS WEST ALONG AND NEAR A FENCE AND WiTH THE SOUTH LINE OF SAID 220 577 ACRE TRACT AND A NORTH LINE OF SAID KUHLKEN TRACT A DISTANCE OF 570 66 FEET TO A SET ~ iNCH IRON PIN WITH A YELLOW CAP STAMPED H&N 1849, THENCE NORTH 86 DEGREES 58 MINUTES 20 SECONDS WEST ALONG AND NEAR A FENCE WITH THE SOUTH LINE OF SAID 220 557 ACRE TRACT AND A NORTH LINE OF SAID KUHLKEN TRACT, A DISTANCE OF 2,7.39 19 FEET TO THE POINT OF BEGINNING AND CONTAINING IN ALL 28.3 754- ACRES OF LAND Page 2 of 7 It I"~i',lllhlj JUl] ,,l~.JJjJJ I~!,lllkl]lll I --..__1 ' I .51 790 PARCEL 2 08/23/00 ALL THAT CERTAIN TRACT OR PARCEL OF LAND LYING AND BEING SITUATED IN THE J CHEEK SURVEY, ABSTRACT 859, J CLARK SURVEY, ABSTRACT 247, AND THE SETH MORRIS SURVEY, ABSTRACT 859, DENTON COUNTY, TEXAS, AND BEING PART OF A CALLED 623 979 ACRE TRACT, DESCRIBED IN A DEED TO LANCE EISENBURG, RECORDED IN VOLUME 919, PAGE 267, DEED RECORDS, DENTON COUNTY, TEXAS, ALSO BEING ALL OF A CALLED 29`3 146 ACRE 2ND TRACT DESCRIBED IN A DEED TO DONALD J CARTER, ET DX. RECORDED UNDER COUNTY CLERKS FILE NUMBER 94-R0065442, REAL PROPERTY RECORDS, DENTON COUNTY, TEXAS, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS BEGINNING AT A FENCE CORNER ON THE NORTH LINE OF SAID CHEEK SURVEY, BEING THE NORTHERN MOST NORTHEAST CORNER OF SAID 62`3 979 ACRE TRACT, WHICH IS THE NORTHERNMOST NORTHEAST CORNER OF SAID CARTER TRACT, BEING ON A WEST LINE OF A CALLED FIRST TRACT, DESCRIBED IN A DEED TO RAY LYNCH ET DX, RECORDED IN VOLUME 1092, PAGE 65.3, DEED RECORDS DENTON COUNTY, TEXAS, THENCE SOUTH 0.3 DEGREES O0 MINUTES 1.3 SECONDS WEST, WITH AN EAST LINE OF SAID 62.3 979 TRACT AND A WEST LINE OF SAID FIRST TRACT, A DISTANCE OF 1.326 60 FEET TO A ~ INCH IRON PIN SET FOR CORNER WITH A YELLOW PLASTIC CAP STAMPED H&N 1649, BEING AN INNER ELL CORNER OF SAID 62`3 979 ACRE TRACT, BEING THE SOUTHWEST CORNER OF SAID FIRST TRACT, THENCE SOUTH 86 DEGREES 1.3 MINUTES 47 SECONDS EAST, ALONG AND NEAR A FENCE, WITH A NORTH LINE OF SAID 62.3 979 ACRE TRACT AND THE SOUTH LINE OF SAID FIRST TRACT, A DISTANCE OF 204.3 6.3 FEET TO A ~ INCH IRON PIN SET FOR CORNER WITH A YELLOW PLASTIC CAP STAMPED H&N 1849, AT THE NORTHWEST CORNER OF A CALLED FOURTH TRACT, DESCRIBED IN A DEED TO RAY LYNCH et ux, RECORDED IN VOLUME 1092, PAGE 65`3, DEED RECORDS DENTON COUNTY, TEXAS, THENCE SOUTH 15 DEGREES 07 MINUTES 42 SECONDS EAST WITH THE WEST LINE OF SAID FOURTH TRACT, A DISTANCE OF 148 1.3 FEET TO A ~ INCH IRON PIN SET FOR CORNER WITH A YELLOW' PLASTIC CAP STAMPED H~N 1849 ON THE WEST RIGHT-OF-WAY LINE OF F M ROAD 428, BEING THE SOUTHWEST CORNER OF SAID FOURTH TRACT, THENCE WITH THE WEST RIGHT-OF-WAY LINE OF F M ROAD 428 THE FOLLOWING 17 BEARINGS AND DISTANCES 1) SOUTH 47 DEGREES 28 MINUTES 09 SECONDS WEST, A DISTANCE OF 53455 FEET, 2) NORTH 46 DEGREES 2.3 MINUTES 08 SECONDS WEST, A DISTANCE OF `39 11 FEET, ~, `3) SOUTH 47 DEGREES 27 MINUTES 45 SECONDS WEST, A DISTANCE OF 250 57 FEET, ~ 4) SOUTH 24 DEGREES 20 MINUTES 45 SECONDS WEST, A DISTANCE OF 5`35 10 FEET, '~ 5) SOUTH 20 DEGREES 07 MINUTES 09 SECONDS WEST, A DISTANCE OF 319 91 FEET, ; 6) SOUTH .30 DEGREES .31 MINUTES 50 SECONDS WEST, A DISTANCE OF 161 19 FEET. .~.~..2 7) SOUTH `36 DEGREES 1`3 MINUTES 42 SECONDS WEST, A DISTANCE OF .910 16 FEET, ~ 8) SOUTH 32 DEGREES 39 MINUTES 34 SECONDS WEST, A DISTANCE OF 201 O0 FEET, ,~. 19)o)SOUTH 43 DEGREES 38 MINUTES 4.3 SECONDS WEST, A DISTANCE OF 10440 FEET, ' .. SOUTH 26 DEGREES 56 MINUTES 46 SECONDS WEST, A DISTANCE OF 100 O0 FEET. ~,~ 11) SOUTH 11 DEGREES 20 MINUTES 49 SECONDS EAST, A DISTANCE OF 247 14 FEET, -,,%~ 12) SOUTH 34, DEGREES 54 MINUTES 20 SECONDS WEST, A DISTANCE OF 106 08 FEET, 48' DEGREES 31 MINUTES 12 SECONDS WEST, A DISTANCE OF 143 94 FEET, 13) SOUTH ~,,~ 14) SOUTH 40~ DEGREES 16 MINUTES 36 SECONDS EAST, A DISTANCE OF 31 57 FEET, FEET ~ 15) SOUTH 45 DEGREES 10 MINUTES 18 SECONDS WEST, A DISTANCE OF 5255 ~.~, 16) SOUTH 45 DEGREES 30 MINUTES 5B SECONDS WEST, A DISTANCE OF 216 14 FEET TO Pag~ 4 of 7 A ½ INCH IRON PIN FOUND AT THE CEGINNING OF A CURVE TO THE LEFT, 17 ALONG SAID CURVE, WITH q~,D WEST RIGHT-OF-WAY LINE, HAVING A CENTRAL ~C ) ...... ~"lJ~l:ES 15 SECONDS, A RADIUS OF 1483 32 FEET, AN. A_R ANGLE OF 11 DEGREES 4-9 MI S OUTH 39 DEGREES 36 MINUtL5 LENGTH OF 306 02 FEET, AND A cHORD WHICH BEAR S 21 SECONDS WEST, A DISTANCE oF 2505 48 FEET TO A FOUND IRON PIN, BEING THE EASTERN MOST CORNER OF A CALLED 23 994 ACRE TRACT, DESCRIBED IN A DEED TO BEN F KING ~snd RHONDA M KING, RECORDED IN VOLUME 4129, PAGE 1478, REAL PROPERTY RECORDS DENTON COUNTY, TEXAS, THENCE NORTH 21 DEGREES 05 MINUTES 34 SECONDS WEST WITH A EAST LINE OF SAID 23994 ACRE TRACT, A DISTANCE OF 82081566 FEET TO A CORNER IN THE CENTER OF CLEAR CREEK, THENCE NORTHWESTERLY WITH THE CENTER OF SAID CREEK THE NEXT 19 BEARINGS AND DISTANCES 1) NORTH 50 DEGREES 30 MINUTES 53 SECONDS WEST, A DISTANCE OF 19547 FEET, 2) SOUTH 84 DEGREES 54. MINUTES 59 SECONDS WEST, A DISTANCE OF 54.7 80 FEET, 34~ NORTH 63 DEGREES 55 MINUTES 15 SECONDS WEST, A DISTANCE OF 134 10 FEET, NORTH 31 DEGREES 41 MINUTES 10 SECONDS WEST, A DISTANCE OF 29478 FEET, 5) NORTH 51 DEGREES 53 MINUTES 28 SECONDS WEST, A DISTANCE OF 234. 89 FEET, NORTH 30 DEGREES 17 MINUTES 54 SECONDS WEST, A DISTANCE OF 918 25 FEET, 671 NORTH 61 DEGREES 33 MINUTES 14- SECONDS WEST, A DISTANCE Of 271 29 FEET, 8) NORTH 66 DEGREES 11 MINUTES O0 SECONDS WEST, A DISTANCE OF 346 29 FEET, 9) NORTH 77 DEGREES 4-9 MINUTES 17 SECONDS WEST, A DISTANCE OF 294 70 FEET, 10) NORTH 65 DEGREES 35 MINUTES 15 SECONDS WEST, A DISTANCE OF 449 29 FEET, 11) NORTH 31 DEGREES 52 MINUTES 40 SECONDS WEST, A DISTANCE OF 41678 FEET, 12) NORTH 72 DEGREES 20 MINUTES 46 SECONDS WEST, A DISTANCE OF 383 69 FEET, 13) NORTH 69 DEGREES 37 MINUTES 4.5 SECONDS WEST, A DISTANCE OF 232 89 FEET, 14-) NORTH 2;5 DEGREES 58 MINUTES 38 SECONDS WEST, A DISTANCE OF 746 25 FEET, 15) NORTH 60 DEGREES 31 MINUTES 44 SECONDS WEST, A DISTANCE OF 224 19 FEET , 16) NORTH 87 DEGREES 02 MINUTES 31 SECONDS WEST, A DISTANCE OF 156 60 FEET, 17) NORTH 32 DEGREES 56 MINUTES 10 SECONDS WEST, A DISTANCE OF 127 09 FEET, "~'J~" 18) NORTH 43 DEGREES 45 MINUTES 57 SECONDS WEST, A DISTANCE OF 169 89 FEET, OF 16959 FEET TO 19) NORTH 02 DEGREES 10 MINUTES 13 SECONDS EAST, A DISTANCE ,~ THE WESTERN MOST NORTHWEST CORNER OF SAID 623 979 ACRE TRACT, THENCE SOUTH 87 DEGREES 36 MINUTES 57 SECONDS EAST, ALONG AND NEAR A FENCE, \ WITH A NORTH LINE OF SAID 623 979 ACRE TRACT, A DISTANCE OF 1179 97 FEET TO A FENCE CORNER, THENCE SOUTH 86 DEGREES 54 MINUTES 4-6 SECONDS EAST, ALONG AND NEAR A FENCE, WITH A NORTH LINE OF SAID 623 979 ACRE TRACT, A DISTANCE OF 66,3 58 FEET TO A ~ INCH iRON PIN SET FOR CORNER WITH A YELLOW PLASTIC CAP STAMPED H&:N 1849, SECONDS EAST, ALONG AND NEAR A FENCE. THENCE sOUTH 88 DEGREES 16 MINUTES 20 ,- NORTH LINE OF SAID 62,3 979 ACRE TRACT. A DISTANCE OF 658 14 FEET TO A ~ WITH A OF SAID 62,3 979 ACRE TRACT, -, .~: FENCE CORNER AT AN INNER ELL CORNER Page 5 of 7 THENCE NORTH 06 DEGREES 36 MINUTES .34 SECONDS EAST, A DISTANCE OF 297 78 FEET TO A ~ INCH IRON PIN SET FOR CORNER WITH A YELLOW PLASTIC CAP STAMPED H&N 1849, THENCE NORTH 29 DEGREES 15 MINUTES 38 SECONDS EAST, A DISTANCE OF 52 46 FEET TO A 1~ INCH IRON PIN SET FOR CORNER WITH A YELLOW PLASTIC CAP STAMPED H&N 1849, AT THE NORTHERN MOST NORTHWEST CORNER OF SAID 623 979 ACRE TRACT, THENCE SOUTH 86 DEGREES 15 MINUTES 01 SECONDS EAST, WITH A NORTH LINE OF SAID 62,.3 979 ACRE TRACT, A DISTANCE OF 810 79 FEET TO A FENCE CORNER POST, THENCE SOUTH 86 DEGREES 08 MINUTES 44 SECONDS EAST, CONTINUING WITH A NORTH LINE OF SAID 62.3 979 ACRE TRACT, A DISTANCE OF 1140 57 FEET TO THE POINT-OF- BEGINNING, AND CONTAINING IN ALL 292 405 ACRES OF LAND Pag~ 6 of 7 L, 708 0 I ,35 10G97 NOTICE OF RESTRICTIVE COVENANTS AND MEMORANDUM OF ANNEXATION AND CONSENT AGREEMENT THIS Notme of Restrmt~ve Covenants and Memorandum of Annexation and, ~onsent " dum of A cement")~s made and entered into as of the (~,,,,Y~ay of Ageement ;m emor an2000, by agnd between the C ty ofDenton' Texas (the"C~ty) and the ~nt Corporation of North Texas (the "Corporatmn"), the owner of certatn real property located ~n Denton County, Texas as particularly described m Exhibit "A" which ~s attached hereto and made a part hereof by reference (the "Property") WHEREAS, the C~ty and the Corporation have on the/~&day o~ 2000 entered ~nto that certmn AnnexaUon and Consent Agreement (the "Annexation Agreement"), and WHEREAS, the Annexation Agreement provides for restrictive covenants that touch and run w~th the Property ~nclud~ng, among other th~ngs the City's right to voluntarily annex the Property under certmn conditions (the "Restrictive Covenants"), and WHEREAS, the part, es hereto have entered into th~s Memorandum of Agreement to be recorded m the Denton County Land Records, to ewdence the Restrictive Covenants and to put all owners of the Property on nonce of same NOW THEREFORE, ~n consideration of the covenants contmned ~n the Annexation Agreement, the part,es agree as follows 1 Th~s Memorandum of Agreement shall be recorded m the Land Records of Denton County, Texas 2 The ongmal of the Annexatmn Agreement may be reviewed and ~s on file m the C~ty Secretary's office of the C~ty, located at the Cxty's Mumc~pal Bmld~ng, 215 E McKanney, Denton, Texas 76201 3 The covenants contained ~n the Annexation Agreement touch and effect the Property and are covenants rurmmg wtth the land described ~n Exhibit "A" as the Property, and are b~ndlng upon the owners of the Property, and all future owners thereof ALL OWNERS OF ANY INTEREST IN THE PROPERTY ARE INFORMED TItAT THEY SHOULD REVIEW THE ANNEXATION AGREEMENT ON FILE IN THE CITY SECRETARY'S OFFICE TO DETERMINE THE NATURE AND SCOPE OF THE RESTRICTIVE COVENANTS. The part, es hereto have executed th~s Memorandum of Agreement as of the date first above written EQUESTRIAN DEVELOPMENT co oe TION oF NOI T Edwin G Pmkett, President CITY OF DENTON, TE/~ Euhne Brock, Mayor ATTEST ~7-) e~c,t~, sfeerc~t~VVa~alter~ - APPROVED AS TO FORM After Recording Please HERBERT L Pt OUTY, CITY ATTORNEY Return to ~~~. ~t,~ Ed Snyder, Deputy City Attorney 215 E McKinney ~ Denton, TX 76201 BY (940) 349-8333  / ACKNOWLEDGMENTS STATE OF TEXAS ) COUNTY OF DENTON ) Th~s instrument was acknowledged before me on the/_~ay o(~ 2000 by Edwin G P~ckett, Premdent of the Equestrian Development Corporatmn of North Texas, on behalf of said corporation I ~'~, ~L~Au~PE~Lml..~ .r,=~ ! Notary Pubic, ,n and'for the State og Texas ~__'~_~/;~_ ?ECEMBER 21, 2003 [ MyCommlsslonexp~res /o2 2/O~ STATE OF TEXAS ) COUNTY OF DENTON ) This instrument was acknowledged before me °n the -L~Y')°~-~'/4'/x~%~2000 by Euhne Er°ok' May°r °f the C'ty °f Dent°n' Texas' °n behalf °f-ill{'?;('57 s . ~. j ~,~:_ _~ Notary Pubh~, ,n and forthe Sta~y/ofTexa ~o;'-"-' -~*;~ ANN F '/THE ~_~ · , Notary Publlo, ~tate of Texas Page 2 The property consists of two parcels of land being a 283 734 acre parcel (Parcel "1") and a 292 403 acre parcel (Parcel "2") descrzbed as follows PARCEL 1 ALL THAT CERTAIN TRACT OR PARCEL OF LAN0 LYING AND BEING SITUATED IN THE H B WILLIAMS SURVEh', ABSTRACT NUMBER 1417 AN0 VE CAILOR SURVEY ABSTRACT 4-52 BENTON COUNT`/, TEXAS, AND BEING A OF A CERTAIN (CALLED) 65 5877 ACRE TRACT AND A 920 558 ACRE TRACT, DEEDED BY HOME iNTERiORS &: GIFTS, INC TO OONALD J CARTER AND wiFE LINDA JO CARTER, ON THE 1ST DAY OF AUGUST 1994 ANO RECORDED BY COUNTf CLERKS FILE NUMBER 94-R0065442 PEAL PROPERTY RECORDS OF DENTON COUNT'( TEXAS AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS BEGINNING AT A FENCE CORNER POST AT THE SOUTHWEST CORNER OF SAID 220 557 ACRE TRACT BEING AN INNER ELL CORNER OF A TRACT OF LAND DESCRIBED IN A DEED TO jEANIE WATSON KUHLKEN, RECORDED IN VOLUME 29.35 PAGE 544 REAL PROPERT7 RECORDS DENTON COUNTY TEXAS, THENCE NORTH 05 DEGREES 59 MINUTES 06 SECONDS EAST, ALONG AND NEAR A FENCE WiTH THE EAST LINE OF SAID KUHLKEN TRACT AND A WEST LINE OF SAID 220 557 ACRE TRACT A DISTANCE OF 1,511 90 FEET TO A FOUND 1/~ INCH IRON AT THE NORTHERNMOST NORTHEAST CORNER OF SAID KUHLKEN TRACT, SAID PiN BEING ON THE SOUTH LINE OF A TRACT DESCRIBED lin A DEED TO CHAIN 7 RANCH L P RECORDED UNDER COUNTY CLERK5 FILE NUMBER 97-R00255933 REAL PROPERTY RECORDS, DENTON COUNTY, TEXAS THENCE sOUTH 87 DEGREES 11 MINUTES 32 SECONDS EAST, ALONG AND NEAR A FENCE WITH A sOUTH LINE OF SAID CHAIN ? RANCH LP TRACT A DISTANCE OF 11295 FEET TO A FOUND 1/2 INCH IRON PiN AT THE SOUTHERNMOST sOUTHEAST CORNER OF SAID CHAIN 7 RANCH L P, TRACT THENCE NORTH 03 DEGREES S4 MINUTES ~3 SEGONDS EAST ALONG AND NEAR A FENCE WITH A EAST LINE OF SAiD CHAIN 7 RANCH L P, TRACT AND A WEST LINE OF SAID 920 557 ACRE TRACT, A DISTANCE OF 2,243 ]6 FEET TO A FOUND ~ INCH IRON PIN AT THE NORTHWEST CORNER OF SAiD 220 557 ACRE TRACT, BEING AN iNNER ELL CORNER OF SAID CHAIN 7 RANCH L P TRACT, THENCE sOUTH 88 DEGREES 35 MINUTES 40 SECONDS EAST, ALONG AND NEAR A FENCE WITH A NORTH LINE OF SAID 220 557 ACRE TRACT AND A sOUTH LINE OF SAID CHAIN 7 RANCH L P TRACT A DISTANCE OF 2,577 55 FEET TO A FOUND ~ iNCH IRON PIN AT THE NORTHEAST CORNER OF SAID 220 557 ACRE TRACT, SAID PIN BEING ON A WEST LiNE OF A TP!~'T DE2¢~'IBEE ~N "DFED TO ,EFt'FRY W N©E AND IFANIE' T NOE RECORDED IN VOLUME 9879 PAOE 544 REAL PROPERTY' RECOPDS OENTON CouNTY TEXAS, THENCE sOUTH 01 OEGREES °,25 MINUTES 07 SECONDS WEST ALONG AND NEAR A FENCE WiTH A wEST LINE OF SAID NOE TRACT AND A EAST LINE OF SAID 220 557 ACRE TRACT A DISTANCE OF 1 110 56 FEET TO A FENCE CORNER POST AT THE sOUTHWEST CORNER oF PIN SAID NOE TRACT AND THE NORTHWEST CORNER OF SAID 6.~ 5877 ACRE TRACT, THENCE sOUTH 86 DEGREES 0.3 MINUTES 55 SECONDS EAST ALONG AND NEAR A FENCE WITH THE sOUTH LiNE OF SAiD NOE TRACT AND THE NORTH BOUNDARY LINE OF 65 5577 ACRE TRACT A DISTANCE OF 829 52 FEET TO A FENCE CORNER POST THENCE sOUTH 87 DEGREES 04 MINUTES ]9 SECONDS EAST ALONG ANO NEAR A FENCE WITH THE SOUTH BOUNDARY LiNE OF SAID NOE TRACT AND WITH THE NORTH LiNE OF SAiD 6.~ 5877 ACRE TRACT A DISTANCE OF 1 004 90 FEET TO A SET ~ INCH IRON pin WITH A YELLOW CAP STAMPED H&N 184g AT THE NORTHWEST CORNER OF SAID 65 5877 AcPE TPACT BEING THE sOUTHEAST CORNER ,.OF SAID NOE TRACT SAIO PiN ALSO BEING ON THE wEST RIGHT-OF-WAr LiNE OF FM ROAD &28 (A 100 FOOT RiGHT-OF-WA¢) THENCE SOUTH 3.3 DEGREES 44 MINUTES 10 SECONDS WEST WITH THE EAST LINE OF SAID 65 5877 ACRE TRACT AN0 THE WEST RIGHT-OF-WAY LINE OF F M ROA0 428, A OISTANCE OF 2 g40 34 FEET TO A SET ~. INCH IRON PIN WITH A YELLOW CAP STAMPED H&N 1849 AT THE SOUTHEAST CORNER OF SAID 220 577 ACRE TRACT AN0 THE NORTHEAST CORNER OF SAID kUHLNEN TRACT THENCE NORTH 86 DEGREES 06 MINUTES 51 SECONDS WEST ALONG AND NEAR A FENCE AND WiTH THE SOUTH LINE OF SAID ~_0 577 ACRE TRACT AND A NORTH LINE OF SAID KUHLKEN TRACT A DISTANCE OF 370 66 FEET TO A SET ~ INCH IRON PIN WITH A YELLOW CAP STAMPED H&N 184g THENCE NORTH 86 DEGREES 58 MINUTES 20 SECONDS WEST ALONG AN0 NEAR A FENCE WITH THE SOUTH LINE OF SAID 220 557 ACRE TRACT AND A NORTH LINE OF SAID KUHLKEN TRACT A DISTANCE OF 2 7.39 19 FEET TO THE POINT OF BEGINNING AND CONTAINING IN ALL 285 754 ACRES OF LAND J.lll I I I,II~1 I 0 I ~1790 PARCEL ~ o8/2 /oo ALL THAT CERTAIN TRACT OR PARCEL OF LAND LYING AND BEING SITUATED IN THE J CHEEK SURVEY, ABSTRACT 859, d CLARK SURVEY, ABSTRACT 247, AND THE SETH MORRIS SURVEY, ABSTRACT 859, DENTON COUNTY, TEXAS, AND BEING PART OF A CALLED 62.3 979 ACRE TRACT, DESCRIBED IN A REED TO LANCE EISENBURO, RECORDED IN VOLUME 919, RAGE 267, DEED RECORDS, DENTON COUNTY, TEXAS, ALSO BEING ALL OF A CALLED 293146 ACRE 2ND TRACT DESCRIBED IN A DEED TO DONALD J CARTER, ET UX RECORDED UNDER COUNTY CLERKS FILE NUMBER 94-R00654-4-2, REAL PROPERTY RECORDS, DENTON COUNTY, TEXAS, AND BEING MORE PARTICULARLY DESCRIBER AS FOLLOWS BEOINNINO AT A FENCE CORNER ON THE NORTH LINE OF SAID CHEEK SURVEY, BEING THE NORTHERN MOST NORTHEAST CORNER OF SAID 62..3 979 ACRE TRACT, WHICH IS THE NORTHERNMOST NORTHEAST CORNER OF SAID CARTER TRACT, BEING ON A WEST LINE OF A CALLED FIRST TRACT, DESCRIBED IN A REED TO RAY LYNCH ET UX, RECORDED IN VOLUME 1092, PAGE 65,3, REED RECORDS DENTON COUNT'(, TEXAS, THENCE SOUTH 03 DEGREES O0 MINUTES 1.3 SECONDS WEST, WITH AN EAST LINE OF SAID 623 979 TRACT AND A WEST LINE OF SAID FIRST TRACT, A DISTANCE OF 1326 60 FEET TO A ~ INCH IRON PiN SET FOR CORNER WITH A YELLOW PLASTIC CAP STAMPED H,.t,'N 184.9, BEING AN INNER ELL CORNER OF SAID 623 979 ACRE TRACT, BEING THE SOUTHWEST CORNER OF SAID FIRST TRACT, THENCE SOUTH 86 DEGREES 1.3 MINUTES 47 SECONDS EAST, ALONG AND NEAR A FENCE, WITH A NORTH LINE OF SAID 625 979 ACRE TRACT AND THE SOUTH LINE OF SAID FIRST TRACT, A DISTANCE OF 204..3 63 FEET TO A ~ INCH IRON PiN SET FOR CORNER WITH A YELLOW PLASTIC CAP STAMPED H&N 1849, AT THE NORTHWEST CORNER OF A CALLED FOURTH TRACT, DESCRIBED IN A DEED TO RAY LYNCH et ux, RECORDED IN VOLUME 1092, PAGE 653, DEED RECORDS DENTON COUNTY, TEXAS, THENCE SOUTH 15 DEGREES 07 MINUTES 4.2 SECONDS EAST WITH THE WEST LINE OF SAiD FOURTH TRACT, A DISTANCE OF 14.8 13 FEET TO A ~ INCH IRON PiN SET FOR CORNER WITH A YELLOW PLASTIC CAP STAMPED H&N 184.9 ON THE WEST RIGHT-OF-WAY LINE OF F M ROAD 4.28, BEING THE SOUTHWEST CORNER OF SAID FOURTH TRACT, THENCE WITH THE WEST RIGHT-OF-WAY LINE OF F M ROAD 428 THE FOLLOWING 17 BEARINGS AND DISTANCES 1) SOUTH 4.7 DEGREES 28 MINUTES 09 SECONDS WEST, A DISTANCE OF 534 55 FEET, 2) NORTH 46 DEGREES 25 MINUTES 08 SECONDS WEST, A DISTANCE OF 59 11 FEET, 3) SOUTH 47 DEGREES 27 MINUTES 4.5 SECONDS WEST, A DISTANCE OF 250 57 FEET, . 4) SOUTH 24 DEGREES 20 MINUTES 4.5 SECONDS WEST, A DISTANCE OF 5.35 10 FEET. 5) SOUTH 20 DEGREES 07 MINUTES 09 SECONDS WEST, A DISTANCE OF 319 91 FEET, , 6) SOUTH 50 DEGREES 31 MINUTES 50 SECONDS WEST, A DISTANCE OF 161 19 FEET, 7) SOUTH 36 DEGREES 1.3 MINUTES 4.2 SECONDS WEST, A DISTANCE OF .310 16 FEET, 8) SOUTH 32 DEGREES 39 MINUTES 3,$ SECONDS WEST, A DISTANCE OF 201 O0 FEET, 9) SOUTH 4.`3 DEGREES 38 MINUTES 4..3 SECONDS WEST, A DISTANCE OF 104. 40 FEET, 10) SOUTH 26 DEGREES 56 MINUTES 4.6 SECONDS WEST, A DISTANCE OF 100 O0 FEET, 11) SOUTH 11 DEGREES 20 MINUTES 49 SECONDS EAST, A DISTANCE OF 247 14 FEET, 12) SOUTH 34 DEGREES 54 MINUTES 20 SECONDS WEST, A DISTANCE OF 106 08 FEEl', 15) SOUTH 48 DEGREES .31 MINUTES 12 SECONDS WEST, A DISTANCE OF 143 94 FEET, ,14) SOUTH 40 DEGREES 16 MINUTES `36 SECONDS EAST, A DISTANCE OF 31 57 FEET, i 15) SOUTH 4.5 DEGREES 10 MINUTES 18 SECONDS WEST, A DISTANCE OF 5255 FEET ~ 16) SOUTH 45 DEGREES 30 MINUTES 58 SECONDS WEST, A DISTANCE OF 218 14 FEET TO [ 708 O lqql ~7)INCH IrON PIN FOUND AT THE ~EGINNING OF A CURVE TO THE LEk-F, ALONG SA]D CURVE, WITH SAID WEST RIGHT-OF-WAY LINE, HAVING A CENTF~NL ANGLE OF 11 DEGREES 49 MINUTES 16 SECONDS, A RADIUS OF 1485 52 FEET, AN ARC LENGTH OF 306 02 FEET, AND A cHORD WHICH BEARS SOUTH 39 DEGREES 36 MINUTES 21 SECONDS V~ST, A DISTANCE oF 305 48 FEET TO A FOUND IRON PIN, BEING THE EASTERN mOST CORNER OF A CALLED 23 994 ACRE TRACT, DESCRIBED IN A DEED TO BEN F KING and RHONDA M KING, RECORDED IN VOLUME 4129, PAGE 1478, REAL PROPER~Y RECORDS DENTON COUNTY, TEXAS, THENCE NORTH 21 DEGREES 05 MINUTES 54 SECONDS WEST WITH A EAST LINE OF SAID 25 994 ACRE TRACT, A DISTANCE OF 820 815 66 FEET TO A CORNER IN THE CENTER OF CLEAR CREEK, THENCE NORTHWESTERLY WITH THE CENTER OF SAID CREEK THE NEXT 19 BEARINGS AND DISTANCES l) NORTH 50 DEGREES 50 MINUTES 35 SECONDS WEST, A DISTANCE OF 195 47 FEET, 2) SOUTH 84 DEGREES 54 MINUTES 59 SECONDS WEST, A DISTANCE OF 347 80 FEET, 5) NORTH 65 DEGREES 55 MINUTES 15 SECONDS WEST, A DISTANCE OF 134 10 FEET, 4) NORTH 31 DEGREES 41 MINUTES 10 SECONDS WEST, A DISTANCE OF 29478 FEET, 5) NORTH 51 DEGREES 55 MINUTES 2B SECONDS WEST, A DISTANCE OF 234 89 FEET, 6) NORTH 30 DEGREES 17 MINUTES 54 SECONDS WEST, A DISTANCE OF 9~825 FEET, 7) NORTH 61 DEGREES 55 MINUTES 14 SECONDS WEST, A DISTANCE OF 27~ 29 FEET, 8) NORTH 66 DEGREES ~l MINUTES O0 SECONDS WEST, A DISTANCE OF 346 29 FEET, 9) NORTH 77 DEGREES 49 MINUTES 17 SECONDS WEST, A DISTANCE OF 294 70 FEET, 10) NORTH 63 DEGREES 35 MINUTES 15 SECONDS WEST, A DISTANCE OF 449 29 FEET, 11) NORTH 51 DEGREES 52 MINUTES 40 SECONDS WEST, A DISTANCE OF 4-16 78 FEET, 12) NORTH 72 DEGREES 20 MINUTES 46 SECONDS WEST, A DISTANCE OF 383 69 FEET, 13) NORTH 69 DEGREES 37 MINUTES 45 SECONDS WEST, A DISTANCE OF 232 89 FEET, 14) NORTH 23 DEGREES 58 MINUTES 38 SECONDS WEST, A DISTANCE OF 746 25 FEET, 15) NORTH 60 DEGREES 31 MINUTES 44 SECONDS WEST, A DISTANCE OF 224 19 FEET , 16) NORTH 87 DEGREES 02 MINUTES 31 SECONDS WEST, A DISTANCE OF 156 60 FEET, 17) NORTH 32 DEGREES 56 MINUTES 10 SECONDS WEST, A DISTANCE OF 127 09 FEET, 18) NORTH 43 DEGREES ~5 MINUTES 57 SECONDS WEST, A DISTANCE OF 169 89 FEET, 19) NORTH 02 DEGREES 10 MINUTES 13 SECONDS EAST, A DISTANCE OF 169 59 FEET TO THE WESTERN MOST NORTHWEST CORNER OF SAID 625 979 ACRE TRACT, THENCE SOUTH 87 DEGREES 56 MINUTES 57 SECONDS EAST, ALONG AND NEAR A FENCE, WITH A NORTH LINE OF SAID 625979 ACRE TRACT, A DISTANCE OF 117997 FEET TO A FENCE CORNER, THENCE SOUTH 86 DEGREES 54 MINUTES 46 SECONDS EAST, ALONG AND NEAR A FENCE, WITH A NORTH LINE OF SAID 625 979 ACRE TRACT, A DISTANCE OF 663 58 FEET TOA ~ INCH IRON PIN SET FOR CORNER WITH A YELLOW PLASTIC CAP STAMPED H&N 1849 THENCE SOUTH 88 DEGREES 16 MINUTES 20 SECONDS EAST, ALONG AND NEAR A FENCE, ' WITH A NORTH LINE OF SAID 625 979 ACRE TRACT, A DISTANCE OF 658 14 FEET TO A FENCE CORNER AT AN INNER ELL CORNER OF SAID 62~ 979 ACRE TRACT, THENCE NORTH 06 DEGREES 56 MINUTES 54 SECONDS EAST, A DISTANCE OF 297 78 FEET TO A ~ INCH iRON PIN SET FOR CORNER WITH A YELLOW PLASTIC CAP STAMPED H&N 1849, THENCE NORTH 29 DEGREES 18 MINUTES 58 SECONDS EAST, A DISTANCE OF 52 46 FEET TO A ~ INCH IRON PIN SET FOR CORNER WITH A YELLOW PLASTIC CAP STAMPED H&N 1849, AT THE NORTHERN MOST NORTHWEST CORNER OF SAID 623 979 ACRE TRACT, THENCE SOUTH 86 DEGREES 15 MINUTES 01 SECONDS EAST, WITH A NORTH LINE OF SAID 625979 ACRE TRACT, A DISTANCE OF 81079 FEET TO A FENCE CORNER POST, THENCE SOUTH 86 DEGREES 08 MINUTES 44 SECONDS EAST, CONTINUING WITH A NORTH LINE OF SAID 623 979 ACRE TRACT, A DISTANCE OF 1~40 57 FEET TO THE POINT-OF- BEGINNING, AND CONTAINING IN ALL 292 4-05 ACRES OF LAND ~'708 0 t t~hh Filed foe Record in: DENTON COUNTY~ TX CYNTHIA NITCHELL, COUNTY CLERK On Nov 01 E000 At l:56pm Doc/Num · 00-R8105978 Doo/Txpe : NOT Recording: 81.88 Receipt #: 446~ Deputy - ELIZABETH TERMINATION OF RESTRICTIVE COVENANTS AND MEMORANDUM OF ANNEXATION AND CONSENT AGREEMENT WHEREAS, the City of Denton, Texas ("City") and Equestrian Development Corporation of North Texas (the "Corporation") entered into that certain Annexation and Consent Agreement dated September 12, 2000 (the "Agreement") relating to an approximate 283.734 acre parcel of land and an approximate 292.403 acre parcel of land which are more particularly described in Exhibit "A" attached hereto and made a part hereof by reference (the "Property"); and WHEREAS, the City and Corporation entered into that certain Notice of Restrictive Covenants and Memorandum of Annexation and Consent Agreement dated September 12, 2000 that was recorded in the Denton County Real Property Records under County Clerk Certificate No. 105972 (the "Restrictive Covenants") to evidence the Agreement and to put all owners and future owners of the Property on notice of same; and WHEREAS, in Section 2 of the Agreement it provides "If the property ownership reverts back to Donald J. Carter ("Carter"), his heirs and personal representatives, this Agreement is null and void."; and WHEREAS, the Property has reverted to Carter pursuant to that certain Special Warranty Deed in Lieu of Foreclosure from the Corporation to Carter dated March 16, 2001 and recorded in Volume 4807, Pages 1320-1328 of the Real Property Records of Denton County, Texas (the "Deed"); and WHEREAS, the City and Carter have entered into this Termination of Restrictive Covenants and Memorandum of Annexation and Consent Agreement (this "Termination") to evidence that the Agreement and Restrictive Covenants by their own terms are null and void and of no further force and effect; Now, therefore, the City and Carter hereby agree as follows: I. The Agreement and Restrictive Covenants by their own terms are null and void and have no further fome and effect. 2. This Termination shall be recorded in the Real Property Records of Denton County, Texas. Signed to be effective as of March 15, 2001, which is the date of the Deed. Page 1 ATTEST: JENNIFER WALTERS, CITY SECRETARY APPROVED AS TO FORM: HERBERT L. PROUTY, CITY ATTORNEY BY: ~~ CITY OF DENTON, TEXAS CITY MANAGER ~ OonaJ~d ~J~ ,~- Page 2 ACKNOWLEDGMENTS STATE OF TEXAS COUNTY OF DENTON } The foregoing instrument was executed and acknowledged before me on the ~LDq~ day of ~ ,2005 by Michael A. Conduff, City Manager of the City of Denton, Texas, a Texas municipal corporation, on behalf of said municipal corporation. I,'~--~ CHRISTIHE A. OICK I Nallle: Notary Public in and for the State of Texas STATE OF TEXAS COUNTY OF DENTON } The foregoing instrument was executed acknowledged before me on thg~ day of '~}'~ ~ ,2005 by Donald J. Carter. ANN PATRICK NOTARY PUBL C State of Texas Comm. Exp. 07-05-2006 SalTle: Notary Public in and for the State of Texas Page 3 Mar 10 05 O5:O?p Elk River Investments (840) 381-4806 p.8 PIN The' Property consists of two parcels o~ land being a 283.734 acre parcel {Parcel'"l") and a .292,403 acre parcel (Parcel ~'2") described as follows: PA/~CEL 1 ALL THAT CERTAIN TRACT OR PARCEL OF LAND LYING AND BEING SITUATED IN THE H.B. WILLIAMS SURVEY, ABSTRACT NUMBER 1417 ANO V.E. GAILOR SURVEY ABSTRACT ~52, DENTON COUNTY, TEXAS, AND BEING A OF A CERTAIN (CALLED) 6.3.5877 ACRE TRACT ANO A 220.558 ACRE TRACT, DEEDED BY HOME INTERIORS & GIFTS, INC. TO OONALD J. CARTER AND WIFE LINDA JO CARTER, ON THE 1ST DAY OF AUGUST, 1994, ANO RECORDED BY COUNTY CLERKS FILE NUMBER 9~-R0085442, REAL PROPERTY RECORDS OF. DENTON COUNlh', TEXAS, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A FENCE CORNER POST AT THE SOUTHWEST CORNER OF SAID 220.557 ACRE TRACT, 8E'~NG AN INNER ELL CORNER OF A .TRACT OF LAND DESCRIBED IN A DEED TO JEANIE WATSON KUHLKEN, RECORDED IN VOLUME 2935 PAGE 54¢, REAL PROPERTY RECORDS. DENTON COUN]~', TEXAS; THENCE NORTH 03 DEGREES 59 MINUTES 06 SECONDS EAST, ALONG AND NEAR A FENCE. WITH THE EAST LINE OF SAID KUHLKEN TRACT AND A WEST LINE OF SAID 220.557 ACRE TRACT, A DISTANCE OF 1,311.90 FEET TO A FOUND ~ INCH IRON AT THE NORTHERNMOST NORTHEAST CORNER OF SAID KUHLKEN TRACT, SAID PIN BEING ON THE SOUTH LINE OF A TRACT DESCRIBED IN A DEED TO CHAIN 7 RANCH L.P, RECORDED UNDER COUNTY CLERKS 'FILE NUMBER 97-R00255933, REAL PROPERTY RECORDS, DENTON COUNTY, TEXAS; THENCE SOUTH 87 DEGREES 11 MINUTES .52 SECONDS EAST, ALONG AND NEAR A FENCE WITH A SOUTH LINE OF SAID CHAIN 7 RANCH L.P. TRACT, A DISTANCE OF 112.95 FEET TO A FOUND 1~ INCH IRON PIN AT THE SOUTHERNMOST SOUTHEAST CORNER OF SAID CHAIN 7 RANCH L.P., TRACT; THENCE NORTH 05 DEGREES 54 MINUTES ~5 SECONDS EAST, ALONG AND NEAR A FENCE WITH A EAST LINE OF SAID CHAIN 7 RANCH L.P., TRACT AND A WEST LINE OF SAID 220.55} ACRE TRACT, A DISTANCE OF 2,245.16 FEET TO A FOUND ~ INCH IRON PIN AT THE NORTHWEST CORNER OF SAID 220.557 ACRE TRACT, BEING AN INNER ELL CORNER OF SAID CHAIN ? RANCH L.P. TRACT; THENCE SOUTH 88 DEGREES 35 MINUTES 4.0 SECONDS EAST, ALONG AND NEAR A FENCE WITH A NORTH LINE OF SAID 220.557 ACRE TRACT AND A SOUTH LINE OF SAID CHAIN 7 RANCH L,P. TRACT, A DISTANCE OF 2,577.55 FEET TO A FOUND ~ INCH IRON PIN AT THE NORTHEAST CORNER OF SAID 220.557 ACRE TRACT, SAID PIN BEING ON A WEST LINE OF A TRACT DESCPIBEE: IN A DE.~D TO JEFFERY W NOR AND JEANIE T. NOE RECORDED tN VOLUME 2879 PAGE 544, REAL PROPERTY RECORDS, DENTON COUNTY, TEXAS; THENCE SOUTH O1 DEGREES 25 MINUTES 07 SECONDS WEST, ALONG AND NEAR A FENCE WITH A WEST LINE OF SAID NOR TRACT AND A FAST LINE OF SAID 220.557 ACRE TRACT, A DISTANCE OF 1,110.56 FEET TO A FENCE CORNER POST AT THE.SOUTHWEST CORNER OF SAID NOR TRACT AND THE NORTHWEST CORNER OF SAID 65.5877 ACRE TRACT;. THENCE SOUTH 86 DEGREES 03 MINUTES 33 SECONDS EAST, ALONG AND NEAR A FENCE WITH THE SOUTH LINE OF SAID NOR TRACT AND THE NORTH BOUNDARY LINE OF 63...5877 ACRE TRACT, A DISTANCE' OF 829.52 FEET TO A FENCE CORNER POST; THENCE SOUTH 87 DEGREES 04- MINUTES 59 SECONDS EAST, ALONG AND NEAR A FENCE WITH THE SOUTH BOUNDARY LINE OF SAID NOE TRACT AND WITH THE NORTH LINE OF SAID 63..5877 ACRE TRACT, A DISTANCE OF 1,004..90 FEET TO A SET ~ INCH IRON PIN wIT A YELLOW CAP STAMPED H&N 1849 AT THE NORTHWEST CORNER OF SAID 65.5877 AcRE TRACT BEING THE SOUTHEAST CORNER OF SAID NOE TRACT, SAID PiN ALSO BEING ON THE WEST RIGHT-OF-WAY LINE OF F.M. ROAD 428 (A 100 FOOT RIGHT-OF-WAY); Page 1 of 7 Mar 10 05 OS:08p Elk River Investments (940) 3B1-4906 THENCE SOUTH `35 DEGREES 44 MINUTES 10 SECONDS WEST, WITH THE EAST LINE OF SAID 65.5877 ACRE TRACT AND THE WEST RIGHT-OF-WAY LINE OF F.M. ROAD 42B, A DISTANCE OF 2,940.3¢ FEET TO A SET 1~ INCH IRON PIN WITH A YELLOW CAP STAMPED H&N 18¢9 AT THE SOUTHEAST CORNER OF SAID 220.577 ACRE TRACT AN0 THE NORTHEAST CORNER OF SAID KUHLKEN TRACT; THENCE NORTH 86 DEGREES 06 MINUTES ,31 SECONDS WEST, ALONG AND NEAR A FENCE AND WITH THE SOUTH LINE OF SAID 220.577 ACRE TRACT AND'A NORTH LINE OF SAID KUHLKEN TRACT, a DISTANCE OF `370.66 FEET TO A SET 1~ INCH IRON PIN WITH A YELLOW CAP STAMPED H&:N 1849; THENCE NORTH §S DEGREES 38 MINUTES 20 SECONDS WEST. ALONG AND NEAR A FENCE WITH THE SOUTH LINE OF SAID 220.557 ACRE TRACT AND A NORTH LINE OF SAID KUHLKEN TRACT, A DISTANCE OF 2,739.19 FEET TO THE POINT OF BEGINNING AND CONTAINING IN ALL 283,7`34' ACRES OF LAND. ?age 2 oE 7 Ma? 10 05 05:0Bp ~lk ~iver Invest~ments (940) ~B1-490B p.11 Jl 790 PA]~ClgL 2 b8723/00 ~LL THAT CERTAIN TRACT OR PARCEL OF LAND LYING AND BEING SITUATED IN THE J. CHEEK SURVEY, ABSTRACT 859. U. CLARK SURVEY, ABSTRACT 24-7, AND THE SETH MORRIS SURVEY, ABSTRACT 859, DENTON COUNTY, TEXAS, AND BEING PART OF A CALLED 62,3.979 ACRE TRACT. DESCRIBED IN A DEED TO LANCE EISENBURG, RECORDED IN VOLUME 919, PAGE 267, DEED RECORDS, DENTON COUNTY, TEXAS, ALSO BEING ALL OF A CALLED 293.14-6 ACRE 2ND. TRACT DESCRIBED IN A DEED TO DONALD J. CARTER, ET UX, RECORDED UNDER COUNTY CLERKS FILE NUMBER 94-R00654-42, REAL PROPERTY RECORDS, DENTON COUNTY, TEXAS, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A FENCE CORNER ON THE NORTH LINE OF SAID CHEEK SURVEY, BEING THE NORTHERN MOST NORTHEAST CORNER OF SAID 623.979 ACRE TRACT, WHICH IS THE NORTHERNMOST NORTHEAST CORNER OF SAID CARTER TRACT, BEING ON 'A WEST LINE OF A CALLED FIRST TRACT, DESCRIBED IN A DEED TO RAY LYNCH ET UX, RECORDED IN VOLUME 1092. PAGE 653, DEED RECORDS DENTON COUNTY. TEXAS; THENCE SOUTH 05 DEGREES O0 MINUTES 13 SECONDS WEST. WITH AN EAST LINE OF SAID. 623.979 TRACT AND A WEST LINE OF SAID FIRST TRACT, A DISTANCE OF 1326.60 FEET TO A ]~ INCH IRON PIN SET FOR CORNER WITH A YFI/OW PLASTIC CAP STAMPED H&N 184-9, BEING AN INNER ELL CORNER OF SAID 623.979 ACRE TRACT, BEING THE SOUTHWEST CORNER OF SAID FIRST TRACT; THENCE SOUTH B6 DEGREES 13 MINUTES 4-7 SECONDS EAST, ALONG AND NEAE A FENCE, WITH A NORTH LINE OF SAID 623.979 ACRE TRACT AND THE SOUTH LINE OF SAID FIRST TRACT, A DISTANCE OF 204,3.53 FEET TO A ~ INCH IRON PIN SET FOR CORNER WITH Al YELLOW PLASTIC CAP STAMPED H&N 184-9, AT THE NORTHWEST CORNER OF A CALLED FOURTH TRACT, DESCRIBED IN A DEED TO RAY LYNCH et ux, RECORDED IN VOLUME 1092,. PAGE 653, DEED RECORDS DENTON COUNTY. TEXAS; THENCE SOOTH 15 DEGREES 07 MII~UTES 42 SECONDS EAST WITH THE WEST LINE OF SAID FOURTH TRACT, A DISTANCE OF 14-8.13 FEET TO A ~ INCH IRON PIN SET FOR CORNER WITH A YELLOW PLASTIC CAP STAMPED H&N 1849 ON THE WEST RIGHT--OF-WAY LINE OF F.M. ROAD 4-28. BEING THE SOUTHWEST CORNER OF SAID FOURTH TRACT; THENCE WITH THE WEST RIGHT-OF-WAY UNE OF F.M. ROAD 4-28 THE FOLLOWING 17 BEARINGS AND DISTANCES: 1) SOUTH 47 DEGREES 2} NORTH 4-6 DEGREES 3) SOUTH 4,7 DEGREES 4) SOUTH 24- DEGREES 5) SOUTH 20 DEGREES 6) SOUTH 50 DEGREES 7) SOUTH 38 DEGREES 8) SOUTH 52 DEGREES 9) SOUTH 4,3 DEGREES 10) SOUTH 26 DEGREES 56 11) SOUTH 11 DEGREES 20 12) SOUTH 34 DEGREES 84 13) SOUTH 48 DEGREES 31 14) SOUTH ¢0 DEGREES 16 15) SOUTH 4-5 DEGREES 10 16) SOUTH 4-5 DEGREES 50 28 MINUTES 09 SECONDS' 25 MINUTES 08 SECONDS 27 MINUTES 4-5 SECONDS 20 MINUTES 4-5 SECONDS 07 MINUTES 09 SECONDS 31 MINUTES 50 SECONDS 13 MINUTES 4-2 SECONDS 39 MINUTES 54 SECONDS 38 MINUTES 4-3 SECONDS MINUTES 4-6 SECONDS MINUTES 4-9 SECONDS MINUTES 20 SECONDS MINUTES 12 SECONDS MINUTES 36 SECONDS MINUTES 18 SECONDS MINUTES 5B SECONDS WEST, a DISTANCE OF 534.55 FEET: WEST, A DISTANCE, Of 39.11 FED'; WEST, A DISTANCE OF 250.57- F'E,~I; WEST, A DISTANCE OF 5.35.10 FEET; WEST, A DISTANCE OF 319.91 FEET; WEST, A DISTANCE OF 161.19 FEET; WEST, A DISTANCE OF 31'0.18 FEET; WEST, A DISTANCE OF 201.00 FEET; WEST, A DISTANCE OF 104-.4-0 FEET; WEST, A DISTANCE OF 100.00 FEET; EAST, A DISTANCE OF 24-7.1~- FEET; WEST, A DISTANCE OF' 106.08 FEET; WEST, A DISTANCE OF 14-3.94- FEET; EAST, A DISTANCE OF' 51.57 FEET; WEST, A DISTANCE OF 52.55 FEET: WEST, A DISTANCE OF 218.14- FEET TO Page 4 Of 7 Mar tO 05 05:0~p Elk River Investments (940] 381-4~06 A ~ INCH IRON PIN FOUND AT THE I~EGINNING OF A CURVE TO THE !_EFT; 17) ALONG SAiD CURVE, WITH SAID WEST RIGHT-OF-WAY LINE, HAVING A CENTRAL ANGLE OF 11 DEGREES 49 MINUTES 15 SECONDS, A RADIUS OF 1483.32 FEET, AN ARC LENGTH OF 306.02 FEET, AND A cHORD WHICH BEARS SOUTH 3g DEGREES 36 MINUTES 21 SECONDS ~-ST, A DISTANCE OF 305.46 FEET TO A FOUND IRON PiN, BEING THE EASTERN MOST CORNER OF A CALLED 2J.g94 ACRE TRACT,' DESCRIBED IN A DEED TO BEN F. KING and RHONDA M, KING. RECORDED IN VOLUME 412g, PAGE 1478, REAL PROPERTY RECORDS DENTON COUNTY, TEXAS; THENCE NORTH 21 DEGREES 05 MINUTES 34 SECONDS WEST WITH A EAST LINE OF SAID 25.994 ACRE TI~ACT, A DISTANCE OF 820,815.66 FEET TO A CORNER IN THE CENT~t~ OF CLEAR CREEK; THENCE NORTHWESTERLY WI33-1 THE CENTER OF SAID CREEK THE NEXT 19 BEARINGS AND DISTANCES: 1) NORTH 50 2) SOUTH 84 3) NORTH 63 4) NORTH 31 5) NORTH 51 6) NORTH 30 7) NORTH 61 NORTH g) NORTH 77 10) NORTH 63 11) NORTH 51 12) NORTH 72 15) NORTH 69 14) NORTH 25 1.5) NORT~t 60 16) NORTH 87 ~7) NORTH 32 18) NORTH 43 lg) NORTH 02 DEGREES 30 MINUTES 33 SECONDS WEST, A DISTANCE OF 195.47 P~-I; DEGREES 54 MINUTES 59 SECONDS WEST, A DISTANCE OF ~7.80 FEET; DEGREES 55 MINUTES 15 SECONDS WEST, A. DISTANCE' OF 13&.10 FEET; DEGREES 41 MINUTES 10 SECONDS WEST, A DISTANCE OF 294.78 FREI; DEGREES 53 MINUTES 2.8 SECONDS WEST, A DISTANCE OF 234.~9 FEET; DEGREES 17 MINUTES 54 SECONDS WEST, A DISTANCE OF ~1B.25 FEET; DEGREES 35 MINUTES 14 SECONDS WEST, A DISTANCE OF 271,29 FEET~ DEGREES 11 MINUTES O0 SECONDS WEST, A DISTANCE OF 346.zg FEET; DEGREES 49 MINUTES 17 SECONDS WLsI, A DISTANCE OF 2g~.70 P~-~; DEGREES 35 MINUTES 15 SECONDS WEST. A DISTANCE OF 4.4g.29 FEET; DEGREES 52 MINUTES 40 SECONDS WEST, A DISTANCE OF 416.78 FEET; DEGREES 2.0 MINUTES ~6 SECONDS WEST, A DISTANCE OF 3~3.69 FEET; DEGREES 57 MINUTES 45 SECONDS WEST, A DISTANCE OF 232.89 FEET; DEGREES 5B MINUTES 38 SECONDS WEST, A DISTANCE OF 7~6.25 FEET; DEGREES 51 MINUTES 4~ SECONDS WEST, A DISTANCE OF 224.19 FEET ; DEGREES 02 MINUTES 31 SECONDS WEST, A DISTANCE OF 156.60 FEET; DEGREES 5§ MINUTES 10 SECONDS WEST, A DISTANCE OF 127.09 FEET; DEGREES 45 MINUTES 57 SECONDS WEST, A DISTANCE OF 169.89 FEET; DEGREES 10 MINUTES 13 SECONDS EAST. A DISTANCE OF 1 §~.59 FEET TO MOST NORTHWEST CORNER OF SAID 623.979 ACRE TRACT; THE WESTERN THENCE SOUTH 67 DEGREES 36 MINUTES 57 SECONDS EAST, ALONG AND NEAR A FENCE, WITH A NORTH LINE OF SAID 623.979 ACRE TRACT, A DISTANCE OF 1179.97 FEET TO A FENCE CORNER; THENCE SOUTH WITH A NORTH INCH IRON PIN THENCE SOUTH WITH A NORTH FENCE CORNER B6 DEGREES 54 MINUTES 46 SECONDS EAST, ALONG AND NEAR A FENCE, UNE OF SAID 623.9'79 ACRE TRACT. a DISTANCE OF 663,58 FEET TO A ~ SET FOR CORNER WITH A YELLOW PLASTIC CAP STAMPED H~N 1849; 8B DEGREES 16 MINUTES 20 SECONDS EAST, ALONG AND NEAR A FENCE, LINE OF' SAID 623.979 ACRE TRACT, A DISTANCE OF 658.14 FEET TO A AT AN INNER ELL CORNER OF ~AID 623.979 ACRE TRACT; [:~Se 5 of 7 Mar lO 05 OS:lOp Elk River Investments (940) 9B1-4906 p. 13 THENCE NORTH 06 DEGREES 36 k~INUTES 54 SECONDS EAST, A D(STANCE OF 297.78 FEE TO a ½ INCH IRON PiN SET FOR CORNER WITH A YELLOW PLASTIC CAP STAMPED H,~'N 184§; THENCE NORTH 29 DEGREES 15 MINUTES 38 SECONDS EAST, A DISTANCE OF 52.46 FEET TO A 1,~ INCH IRON PiN SET FOR CORNER WITH A YELLOW PLASTIC CAP STAMPED HZ,'N 184-9, AT THE NORTHERN MOST NORTHWEST CORNER OF SAID 623.979 ACRE TRACT; THENCE SOUTH 86 DEGREES 15 MINUTES O1 SECONDS EAST, WITH A NORTH LINE OF SAID 623.979 ACRE TRACT, A DISTANCE OF 810.79 FEET TO A FENCE CORNER POST; THENCE SOUTH 86 DEGREES 08 MINUTES 4-4- SECONDS EAST, CONTINUING WITH a NORTH LINE OF SAID 623.979 ACRE TRACT, A DISTANCE OF 1140.57 FEET TO THE POINT-OF- BEGINNING, AND CONTAINING IN ALL 292.4-05 ACRES OF LAND. ~age 6 of 7