1999-214AN ORDINANCE APPROVING A REAL ESTATE CONTRACT BETWEEN THE CITY OF
DENTON AND BEL AIR DEVELOPMENT, [NC, RELATING TO THE PURCHASE OF
9 290 ACRES OF LAND FOR THE BUILDING OF A DRAINAGE DETENTION POND
PURSUANT TO COOPER CREEK AND PEC 4 MASTER REGIONAL DRAINAGE STUDY
PLAN, AUTHORIZING THE EXPENDITURE OF FUNDS THEREFORE, AND PROVIDING
AN EFFECTIVE DATE
THE COUNCIL OF THE CITY OF DENTON, TEXAS HEREBY ORDAINS
SECTION I That the City Manager xs hereby authorized to execute a Real Estate
Contract between the Ctty and Bel A~r Development, Inc, ~n substantially the form of the Real
Estate Contract which ts attached to and made a part of thts ordinance for all purposes, for the
purchase of 9 290 acres of land for the bmldlng of a drainage detentton pond pursuant to Cooper
Creek and PEC 4 Master Regtonal Drmnage Study Plan
.~._F,d~_TJ.Q_N_~ That the Ctty Manager ts authorized to make the expenditures as set forth
tn the attached Real Estate Contract
~ That this ordinance shall become effecttve ~mmedmtely upon ars passage
and approval /ff~
PASSED AND APPROVED thts the day of ,1999
JAC~
ATTESTi
JENNIFER WALTERS, CITY SECRETARY
APPROVED AS TO LEGAL FORM
HERBERT L PROUTY, CITY ATTORNEY
REAL ESTATE CONTRACT
STATE OF TEXAS
COUNTY OF DENTON
THIS CONTRACT OF SALE Is made by and between Bel A~r Development, LTD
(hereinafter refen'ed to as "Seller") and CITY OF DENTON, TEXAS, a home nde mumclpahty,
of Denton, Denton County, Texas, (heremaiter referred to as "Purchaser"), upon the terms and
conchtions set forth herem
PURCHASE AND SALE
1 Seller hereby sells and agrees to convey, and Purchaser hereby purchases and agrees to pay
for all that certain tract, lot or parcel of land consisting cfa 9 290 acre tract of land, more or
less, as described m Exlmblt "A", together vath all rights and appurtenances pertaining to the
smd property, mcludmg any right, t~tle and interest of Seller m and to adjacent streets alleys
or rights-of-way (all of such real property, rights, and appurtenances bemg hereinafter
referred to as the "Property"), together w~th any unprovements, fixtures, and personal
property situated on and attached to the Property, for the consideration and upon and subJect
to the terms, provisions, and conthtions berema/ter set forth
PURCHASE PRICE
1 Amount of Purchase Price The purchase price for the Property (9 290-acre tract)
shall be the sum of One Hundred Thousand Dollars and No Cents ($100,000 00)
2 Payment of Purchase Price. The full amount of the Purchase Price shall be
payable m cash at the closmg.
PURCHASER'S OBLIGATIONS
The obhgations of Purchaser hereunder to consummate the transactions contemplated
hereby are subject to the setisfact~on of each of the following conthtions any of wluch may be
waived m whole ur m part by Purchaser at or pnor to the closmg
1 Prehmmarv Title Reoort. W~thm twerlty (20) days after the date hereof, Seller, at
Seller's sole cost and expense, shall have caused the Title Company (hereinafter
defined) to ~ssue an owne?s policy comrmtment (the "Comrmtment")
accompamed by copies of all recorded documents relating to easements, rights-of-
way, otc, affecting the Property Purchaser shall g~ve Seller wntten notice on or
before the expuation of ten (10) days a/ter Purchaser receives the Commitment
that the conthtion oft~tle as set fotfla m the Commitment ~s or is not satisfaetory
In the event Purchaser states the oenthtlon ofutle is not satisfactory, Seller shall,
at Seller's opt]on, promptly undertake to eliminate or modify all unacceptable
matters to the reasonable sat]sfactton of Purchaser
Purchaser understands that Seller Is under no obhgat]on to cure any t]tle defects
complained of by Purchaser stated m Purchaser's written not]ee to Seller as
prowded m tins paragraph In the event Seller ~s unable to do so vathm ten (10)
days after receipt of written not]ce, tlus Agreement shall thereupon be null and
veld for all purposes, otherwise, flus cond~t]on shall be deemed to be acceptable
and any objact]on thereto shall be deemed to have been wmved for all purposes
2 Survey Seller shall, at Seller's sole cost and expense, obtain a current survey of
the Property, prepared by a duly hcensed Texas land surveyor acceptable to
Purchaser The survey shall be staked on the ground, and shall show the location
of all nnprovements, lu~hways, streets, roads, rmlroads, rivers, creeks, or other
water courses, fences, easements, and rights-of-way on or adjacent to the
Property, if any, and shall cont~m the surveyor's certlficat]on that there are no
encroachments on the Property and shall set forth the number of total acres
comprtsmg the Property, together vath a metes and bounds descnpt]un thereof
Purchaser w~ll have ten (10) days after receipt of the survey to rewew and
approve the survey In the event the survey ~s unacceptable, than Purchaser shall
within the ten- (10) day pe~od' ~ve Seller written not]ce of flus fact Seller shall,
at Seller's option, promptly undertake to elunmate or modL~ the unacceptable
port]ons of the survey to the reasonable sat]sfact]ons of Purchaser In the event
Seller is unable to do so w~thm ten (10) days at~er receipt of written not]ce,
Purchaser may terminate flus Agreement, and the Agreement shall thereupon be
null and vo~d for all purposes Purchaser's fmlure to g~ve Seller flus vmtten
not~ce shall be deemed to be Purchaser's acceptance of the sur~ey
3 Seller's Comnhance. Seller shall have performed, observed, and comphed with
all of the covenants, agreements, and condlt]ons required by flus Agreement to be
performed, observed, and compiled w~th by Seller prior to or as of the closing
REPRESENTATIONS AND WARRANTIES OF SELLER
Seller hereby represents and warrants to purchaser, to the best of its current knowledge,
as follows, wluch representat]ons and warrant]as shall be deemed made by Seller to Purchaser
also as of the closing date
1 There are no parties m possession of any pomon of the Property as lessees,
tenants at sufferance, or trespassers
2 Except for the prior act]ons of Purchaser, there is no pending or threatened
condemnat]on or similar proceeding or assessment or stat, affecting ufle to the
Page 2 of 6
Property, or any part thereof, nor to the best knowledge and belief of Seller is any
such procoedmg or assessment contemplated by any governmental authority
3 Seller has complied w~th all apphcable laws, ordinances, regulations, statutes,
rules and restrictions relatmg to the Property or any part thereof
4 To the best oftbe Seller's knowledge, there are no toxic or hazardous wastes or
materials on or w~thm the Property Such toxic or hazardous wastes or materials
include, but are not hrmted to, bnT~rdous materials or wastes as same are defined
by the Resource Conservation and Recovery Act (RCRA), as amende~ and the
Comprehensive Environmental Response Compensation and Liability Act
(CERCLA), as amended
CLOSING
The clusmg shall be held at the office of Title Resources, 1112 Dallas Drive, State 402,
Denton, Texas, on or before ,1999, (wluch date is hereto referred
to as the "clusmg date")
CLOSING KEQUIREMENTS
I Seller's Reaun~ra~nts. At the ¢lusmg Seller shall
A Deliver to Pu~ha~' a daly executed and acknowledged G~neral Warranty
Doed conveying good and marketable title m fee simple to all of the
Prop~, free and clear of any and all liens, encumbrances, conthUons,
as~ssments, and restnc~ons, except for thc follovang
1 General real estate taxes for the year of clusmg and subsequent
years not yet du~ and payable, and
2 Any exceptions approved by Purchaser pursuant to Purch~er's
Oblmatio~s herenf, and
3 Any exceptions approved by Purchaser m writing
B Deliver to PurchA.~er a Texas owner's Policy of Title Insurance at Seller's
sole expense, issued by Title Resources, Denton, Texas, (the "Title
Company"), m Purchaser's favor m the full amount of the purchase Imce,
msonng Purchaser's foe sunple title to the Property subject only to those
title exceptions hsted m Closing Reamrements hereof, such other
exceptions as may be approved m writing by Purchaser, and the standard
printed exceptions contained m the usual form of Texas Owner's Policy of
Title Insurance, provided, however
Page 3 of 6
1 The boundary and survey exceptions shall be deleted fi'
roqmred by Purchaser, and if so required, the costs
associated vath same shall be borne by Seller,
2 The excepUon as to restncUve covenants shall be endorsed
"None of Record",
3. The exceptmn as to liens encumbenng the Property shall be
endorsed "None of Record" other than those set forth m
"Purchaser's Obheations"
4 The exception for taxes shall be hrmted to the year of
closing and shall be endorsed "not yet due and payable"
C Deliver to Purchaser possession of the Property on the day of closmg
2 Purchaser's Requirements. Purchaser shall pay the consideration as referenced m
the "Purchase Price" section of tlus contract at Closmg m immediately aviulable
3 Closmu Costs. Seller ~h~!l pay all taxes assessed by any tax junsthction through
the date of the Closing
All other costs and expenses of closing m consummating the sale and purchase of the
Property not specifically allocated hereto shall be prod by Seller
REAL ESTATE COMlVlISSION
Any real estate commissions occasioned by the consummation ofttus Agreement shall be
the sole responsibility of Seller, to the extent Seller has agreed to pay any such real estate
commission m writing, and Seller agrees to mdemmfy and hold Purchaser harmless from any
and all claims for any such cormmsslons
BREACH BY SELLER
In the event Seller shall fail to fully and t~mely perform any of its obhgat~ons hereunder
or shall fall to consummate the sale of the Property except Purchaser's default, Purchaser as its
sole and exclusive remedy may either enforce specific performance of tlus Agreement or
terminate this Agreement by wntten notice delivered to Seller
BREACH BY PURCHASER
In the event Purchaser should fall to cons~mmate the purchase of the Property, the
concht~ons to Purchaser's obhgat~ons set forth m PURCHASER'S OBLIGATIONS having been
satisfied and Purchaser being m default, Seller as its sole and exclusive remedy may enforce
Page 4 of 6
specific performance of flus Agreement, or termmate flus Agreement by written notice delivered
to Purchaser
MISCELLANEOUS PROVISIONS
1 +~SSl_munent of Anreement. This Agreement may not be assigned by Purchaser
without the express written consent of Seller
2 f Co Any of the representations, warranties, covenants, and
agreements of the parties, as well as any rights and benefits of the parties,
pertaining to a period of tune following the closing of the transactions
contemplated hereby shall survive the closing and shall not be merged thereto
3. Notice. Any notice reqmred or permitted to be delivered hereunder shall be
deemed received when sent by Umted States mall, postage prepaid, certified mail,
return receipt requested, addressed to Seller or Purchaser, as the case may be, at
the address set forth beneath the mgnature of the party
4. Texas Law to An~lv. Th~s Agreement shall be construed under and m accordance
with the laws of the State of Texas, and all obligations of the pamas created
hereunder are performable m Denton County, Texas
5. Pitrt~es Bound. This Agreement shall be binding upon and inure to the benefit of
the parties and thetr respective legal representatives, successors and assigns where
perrmtted by th~s Agreement
6 ~ In case any one or more of the provisions contained m flus
Agreement shall for any reason be held to be invalid, illegal, or unenforceable m
any respect, smd mvahdlty, illegality, or unenforceablhty shall not affect any
other provision hereof, and flus Agreement shall be construed as if the invalid,
illegal, or unenforceable provision had never been contained hereto
7 Pl't0t Anreements Sup_ erseded. Tlus Agreement consUtutes the sole and only
agreement of the parties and supersedes any prior understandings or written or
oral agreements between the parties respecting the wiflun subject matter
8 Time of Essence Tune is oftha essence m flus Agreement
9 Gender. Words of any gander used m flus Agreement shall be held and construed
to include any other gender, and words m the singular l'~nmber shall be held to
include the plural, and vice versa, unless the context requires otherwise
10 Compliance. In accordance w~th the reqmrements of the Texas Real Estate
License Act, Purchaser Is hereby advised that it should be furnished with or obtain
a policy of title msurenoe or Purchaser should have the abstract covenng the
Property examined by an attorney of Purchaser's own selection
Page 5 of 6
11 Time Limit In the event a fully executed copy of flus Agreement has not been
returned to Purchaser within ten (10) days after Purchaser executes this
Agreement and delivers same to Seller, Purchaser shall have the right to terminate
this Agreement upon written notice to Seller
DATED tins ~/~ day of ..-"~u ~E .1999
PURCHASER
BE~ ~I~ELOPMENT, LTD THE~TY OF DENTON, TEXAS
C~ty ~ageff --
215 E' Mc~ey
Denton, Tex~ 76201
ATTEST
~ER W~TERS, CITY SEC~T~Y
~PROVED AS TO LEG~ FO~
HE~ERT L PROUTY, CITY ATTO~Y
THE STATE OF TEXAS §
COUNTY OF DENTON §
This instrument was acknowledged before me on th~s the .~r~ day of
'~-~u kl E ~1999by M T Akhavlzadeh
~oe~eo~ooe~oe~o~q~ Notary Pubhc,"ffi arf~ ffff the State orrexas
~C~"-_ ¢lq~,m0P~tlm ¢ 0~,.$ ~ My Commmmon Expires
Page 6 of 6
EXHIBIT A
Samuel M~Crar.,ken eun~ey Febru~ 5 1999
Abstra=t No 7~8 JobNo 98-110
D~mton County, T~as City of Denton Texas
DESCRIPTION
BEING A 9 290 ACRE PARCEL OF LAND. SITUATED IN THE SAMUEL McCRACKEN SURVEY.
ABSTRACT NO 708. DENTON COUNTY. TEXAS. SAID TRACT BEING PART OF A 94 061 ACRE
TRACT OF LAND AB DEEDED TO BEL AIR DEVELOPMENT. LTD. FROM TED ZADEH ON AUGUST
8. 1997. AS RECORDED IN INSTRUMENT NO 087088. OF THE DEED RECORDS OF DENTON
COUNTY. TEXAS SAID PARCEL BEING ALL OF LOT 1. BLOCK 'D' OF THE PROPOSED BEVERLY
PARK ESTATE8 PHASE II ADDITION SAID 9 290 ACRE PARCEL BEING MORE PARTICULARLY
DESCR~IBED BY METES AND BOUNDS AS FOLLOWS
BEGINNING at a ,=-inch iron md found, being a southwest comer of Beverly Park Estates Phase I. an
addition to the city of Denton. Texas. as recorded In Cabinet "O". Slide 306. DRDCT. same point being
the southwest comer of Lot 16. Block "B".
THENCE along the west lines of sa~d Beverly Park Estates Phase I the following slx (6) ~ourses and
distances
S 85054' 39" E. a distance of 140 15 feet to a '/'=-inch ;ron rod found.
N 87°06' 08" E. a distance of 70 20 feet to a '/'=-inch ~ron rod found.
8 20022' 59" W. a distance of 112 38 feet to a .~mch ~ron rod found.
S 03018' 08" E. a distance of 168 48 feet to a ,=-tach ~ron md found.
S 59043' 31" E. a distance of 199 52 feet to a Y=-tnch ~ron rod found, and
S 00°53' 53" E. a distance of 153 77 feet to a point, sa~d point being in the proposed north right-
of-way line of Kings Row (variable width dgM-of-way).
THENCE N 87°59. 12" W. leaving said common line and crossing said 94 061 acre tract, with said
proposed right-of-way line a distance of 694 51 feet to a point, smd point being m the west line of smd
94 061 acrs tract, same being the east line of Caml~tdge Square Subdivmion. an addition to the cay of
Denton. Texas. as recorded in Volume 4. Page 38. DRDCT.
THENCE along the west line of said 94 081 acre tract, being the east line of said Cambridge Subdivision
the following four (4) courses and distances
N 02028' 48" E. a distance of 117 85 feet to point.
N 87°31' 12" W. a distance of 96 53 feet to a point.
Along a cu;ve to the dght. having a radius of 101 91 feet. a delta angle of 52016' 04". an arc
distance of 92 97 feet and having a chord that bears N 81 °23' 14" W. a d~stance of 89 78 feet to
a point, and
N 35 ° 15' 12" W. a distance of 568 31 feet to a point.
THENCE leaving said common line and crossing said 94 061 acre tract with the south line of the
proposed Block "B" of said Proposed Beverly Estates Phase II the following eight (8) courses and
distances
Samual Id=Cra=Yen Survey February 5, 1~
Abstract No 708 JobNo ~6-110
Denton County, Texas C~ of Denton, Texas
N 41 °55' 02" E, a d;stance of 50 44 feet to a point,
57000' 31" E, a dlstan~ of 97 45 feet to a point,
68032' 05" E, a distance of 97 24 feet to a point,
49036' 14" E, a distance of 61 81 feet to a point,
34°43' 51" E, a distan~ of 162 58 feet to a po;nt,
89056' 34" E, a distance of 164 36 feet to a point,
44056. 52" E, a distan~ of 166 56 feet to a point, and
85054' 39" E, a distance of 210 24 feet to the POINT OF BEGINNING and containing 9 290
aores of land mom of less Basis of bearing for this descnption ;s the Te~s State Plane
Coordinate System, North central Zone