HomeMy WebLinkAboutEscrowMAR, 18, 1999 10:44AM BROWN PARKER & LEAHY NO. 2487 P. 1/16
BROWN, PARKER & LEAHY, L.L.P.
A REGISTERED LIMITED LIABILITY PARTNERSHIP
INCLUDING PROFESSIONAL CORPORATIONS
ATTORNEYS
WRITER'S DIRECT 3600 TWO ALLEN CENTER
TELEPHONE: 1200 SMITH STREET FACSIMILE:
(713) 951-5825 HOUSTON, TEXAS 77002-4595 (713) 654-1871
INTERNET ADDRESS: 713/654-8111
drobins ,b Isom
DATE: March 18, 1999
TO: Natalie Ruiz
COMPANY: City of College Station
FAX NO: (409) 764-3496
TO: Dan Muniza
COMPANY: CenterAmerica
FAX NO: (713) 349-0901
FROM: David M. Robins
NUMBER OF PAGES, INCLUDING THIS COVER LETTER: 16
IF TRANSMISSION IS NOT COMPLETE, PLEASE CALL PENNY AT (713) 951-5882
CONFIDENTIALITY NOTICE:
THIS FACSIMILE TRANSMISSION (AND/OR THE DOCUMENTS ACCOMPANYING IT)
MAY CONTAIN CONFIDENTIAL INFORMATION BELONGING TO THE SENDER WHICH
IS PROTECTED BY THE ATTORNEY-CLIENT PRIVILEGE. THE INFORMATION IS
INTENDED ONLY FOR THE USE OF THE INDIVIDUAL OR ENTITY NAMED ABOVE. IF
YOU ARE NOT THE INTENDED RECIPIENT, YOU ARE HEREBY NOTIFIED THAT ANY
DISCLOSURE, COPYING, DISTRIBUTION OR THE TAKING OF ANY ACTION IN
RELIANCE ON THE CONTENTS OF THIS INFORMATION IS UNAUTHORIZED AND
STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS TRANSMISSION IN ERROR,
PLEASE IMMEDIATELY NOTIFY US BY TELEPHONE TO ARRANGE FOR THE RETURN
OF THE DOCUMENTS,
Attorney No, : 017 Client/Matter No.: 4580/16
COMMENTS:
MAR, 18. 1999 10:45nM BROWN PARKER & LEAHY
BROWN, PARKER & LEAHY, L.L.P
A REGISTERED LIMITED LIABILITY PARTNERSHIP
INCLUOING POOCCSSiONAL CORPORATIONS
DAVID M. ROBINS
PARTNER ATTORNEYS
DIRECT (713) 951-5825
INTERNET arabina@bpLeam Two ALLEN CENTER
'BOARD CERTIFIED-COMMERCIAL REAL ESTATE LW 1 200 S M I T H S T R E 0T, SUITE 3600
TEXAS BOARD OF LEGAL SPECIALIZATION HOUSTON. TEXAS 77002-4595
March 18, 1999
Via Fax 6409) 764-3496
City of College Station
Attention: Natalie Ruiz
Dear Natalie:
NO, 2487 P, 2116
TELEPHONE (713)654.9r11
FAC51M16E (713)654.1871
www,bpl,coT
Enclosed is the existing Escrow Agreement with the title company. If it is acceptable, we
can simply amend to make the City the Escrow Agent.
Very truly your
avid M. R bins
DMR:mm
cc: Via Fax No. (713) 349-0901
Dan Muniza - w/enclosure
Center America
@ 1NTERLAW, Member of 1NTERLAW, an intenlarional 033Oeiation of independent law Snua ill major world cenwra
P:Wata1Wp10171039)1039910a.017:mm:3/111199:1029 AM
MAR, 18, 1999 10:45AM BROWN PARKER & LEAH`f
ROAD -CONSTRUCTION
AND
ESCROW AGREEMENT
EFFECTIVE DATE: March 12, 1999
NO, 2487 F. 8/16
CASE NO.: 98-HO-37254-F (00123) Agreement of Purchase and Sale (the "Contract") with an
effective date of April 13, 1998, as amended and extended, by and between Delmar
Realty Investors, Inc., whose interests have been assigned to DELMAR ROCK
PRAIRIE, LTD., a Texas limited partnership ("Seller") and CENTERAMERICA
PROPERTY TRUST, L.P., aDelaware limited partnership ("Purchaser"), pursuant
to which Seller conveyed to Purchaser effective this date the real property in Brazos
County, Texas, more particularly described on Exhibit "A" attached hereto and
incorporated herein for all purposes (the "Property").
1. THIS ESCROW AGREEMENT (the "Agreement") is entered into effective as of
the date set forth above by and between the above named Seller and Purchaser and American Title
Company of Houston ("Escrow Agent"). Pursuant to the terms of this Agreement, Purchaser and
Seller have instructed Escrow Agent to hold and disburse the Escrowed Amounts (as hereinafter
defined) for the Escrow Period (as hereinafter defined) and for the purpose and under the terms
and conditions set forth below. All capitalized terms not defined herein shall have the same
meanings ascribed to them in the captioned Contract.
(a) Escrowed Amounts: $210,000.00, deposited by Seller on the date
of this Agreement, together with any
additional sums escrowed by Seller pursuant
to paragraphs 2(a) and/or 2(b) below.
S 125,000.00 deposited by Purchaser on the
date of this Agreement ("Purchaser's
Deposit") which amount represents the
maximum amount Purchaser is obligated to
pay to Seller for Purchaser's portion of the
engineering and construction costs of the
extension of Longmire Road. The total sums
escrowed, together with interest thereon, are
called the "Escrowed Amounts".
(b) Escrow Period: The period from the date of this Agreement
until the date the Escrow Agent receives a
F:\d=\%V%0171029910299$910.017:w:3/9/99-A25 om
MAR, 18,1999 10;45AM BROWN PARKER & LEAHY NO, 2487 P. 4/16
written acknowledgment from Seller and
Purchaser confirming that construction of
Longmire Road has been completed, together
with an Affidavit of Completion in
accordance with Section 53.106 ofthe Texas
Property Code, and the instructions for the
final disbursement of Escrowed Amounts is
herein called the Escrow Period.
(c) Purposes of Escrow; To provide funds to construct the extension
of Longmire Road, which will be constructed
in the area shown on Exhibit "B" attached
hereto and incorporated herein for all
purposes.
2.(a) The final plat of the Property has been approved by the City of
College Station (the "City") but has not yet received all necessary signatures for
recording purposes. Seller and Purchaser agree to sign such plat and cooperate to
have same signed by the City and Brazos County and recorded at the earliest
practicable date. The plans for Longmire Road extension and other infrastructure
to be constructed by Seller as required by the City in connection with the platting
of the Property (herein called the "work") have received preliminary approval from
the City. As a condition to the City's signing of the plat, the City may require the
final plans and specifications for the work to be approved by the City. As. a
condition to or in connection with final approval of the plans and specifications for
the work and the signing of the plat by the City, the City may require that (i) the
Escrowed Amounts be escrowed with the City or an escrow agent approved by the
City, or (ii) a letter of credit in an amount equal to the Escrowed Amounts be issued
in favor of the City by a bank approved by the City. Seller, as part of its
obligations herein shall provide such escrow, letter of credit or other financial
assurance or guaranty with respect to the work as may be required by the City.
Seller and Purchaser agree that, at Seller's option, in order to satisfy such
requirements, either (i) the Escrowed Amounts will be escrowed with an escrow
agent acceptable to the City and reasonably acceptable to Seller and Purchaser,
provided that in either case the agreements and obligations between Seller and
Purchaser herein shall not be abrogated, or (ii) the Escrowed Amounts will be
deposited with and/or pledged to a bank reasonably acceptable to Seller and
Purchaser to secure a letter of credit to the City as described above. Seller and
Purchaser agree to cooperate in obtaining final approval of such plans and
specifications in order to continence the work described herein. Seller covenants
and agrees to commence or cause to be commenced the engineering and
construction of the extension of Longmire Road as shown on Exhibit "B" and the
MAR, 18. 1999 10 :45h11 BROWN PARKER & 1,EAHY
NO, 2487 P. 5/16
other work as described in the plans and specifications therefor described on
Exhibit "C" attached hereto and made a part hereof (as such plans and
specifications may hereafter be modified by consent of Seller and Purchaser and/or
as required by the City, herein called the "Plans"), on or before the expiration of
thirty (30) days after the closing of the conveyance of the Property from Seller to
Purchaser (the "Commencement Date"), and further agrees to complete such work
on or before the expiration of one hundred twenty (120) days after the
Commencement Date (the "Completion Date"). The said work is to be completed
free and clear of all liens and in accordance with the Plans and the standards and
requirements of the City, Purchaser hereby grants Seller and its agents a license
and easement to enter the Property to perform the work.
(b) Seller and Purchaser have escrowed the Escrow Amounts based on
their estimation of the costs of such engineering and construction in accordance
with the approved budget set forth on Exhibit T", attached hereto and incorporated
herein by reference (the "Budget"). In the event additional amounts in excess of
the initial Escrowed Amounts of $335,000.00 are required pursuant to future
detailed budgets or in connection with requirements of the City as described in
paragraph 2(a) above, Seller shall escrow such additional amounts. In the event the
actual costs of such engineering and construction exceed the Escrowed Amounts,
such excess shall be paid by Seller, it being understood that Purchaser's maximum
obligation for such costs shall not exceed Purchaser's Deposit. If such costs are
less than the Escrowed Amounts, then upon completion of all such work • and
payment of such costs, the balance of Escrowed Amounts shall be distributed by
Escrow Agent to Seller and Purchaser, in the same manner as such Escrowed
Amounts were deposited (i.e. any amounts escrowed by Seller above 5125,000.00
shall be refunded to Seller, and if the actual costs are less than $250,000.00, then
the balance will be distributed equally to Seller and Purchaser).
3.(a) If in the event Seller fails to commence such work oil or before the
Commencement Date, or fails to complete the said work on or before the
Completion Date in accordance with the Plans (subject to force majeure delays of
not more than thirty days in total), any such failure being hereby agreed to
constitute a default hereunder, then in either of such events Purchaser may, but
shall not be obligated to, proceed to complete the said work and pay the cost
thereof from the Escrowed Amounts, and for this purpose the Seller hereby
irrevocably authorizes and empowers the Purchaser to do and perform for it and
in its name, place, and stead all matters and things which the Purchaser shall in its
judgment deem necessary and proper to be done to effectuate the completion of the
said work, and to apply the said moneys only to the payment of debts contracted
and incurred for work done or for materials furnished therefor, or either, in and
about said work, for all expenses, costs and charges in connection therewith,-and
F~~df~il~ro101T0299102D939Be.017~~~SA/99~I~15
MAIR. 18. 1999 10:46rL BROWN PARKER & LEAHY NO, 2487 P, 6/16
for the Purchaser so doing, this warrant of attorney shall be its full and sufficient
authority and the orders so given and signed by the Purchaser shall be good and
sufficient vouchers for all payments made by virtue thereof Purchaser shall in no
event be responsible for the completion of said work beyond the expenditure of the
Escrowed Amounts received by it, and if said sum is insufficient for such purpose,
the Purchaser shall be under no duty to proceed further with the work until
additional sums are provided by Seller.
(b) If Purchaser elects to do or cause to be done the work and be
reimbursed for same out of the Escrowed Amounts as set forth above, Purchaser
shall provide written notice of the exercise of such option (the "Notice") to the
other parties to this Agreement within the fifteen (15) day period immediately
following the Commencement Date or Completion Date, as the case may be. If
Seller has failed to cure the alleged default within fifteen (15) days after the date
Purchaser provides the Notice, then, immediately thereafter, Seller shall be relieved
of its obligation to construct the Road and shall have no right to receive the
Escrowed Amounts for such purpose (but Seller shall continue to be obligated for
any shortages in the Escrowed Amounts and any cost overruns in connection with
the work and, if the actual costs are less than the Escrowed Amounts, Seller shall
continue to be entitled to the return of its portion of such excess Escrowed Amounts
pursuant to paragraph 2(b) above), and Escrow Agent shall be entitled and
obligated thereafter to rely solely on the instructions of Purchaser, it being
understood that Seller shall thereafter have no further rights under this Agreement
to direct, consent to, acknowledge or otherwise instruct, authorize or approve
disbursement of the Escrowed Amounts, any provision hereof expressed or implied
to the contrary notwithstanding. In the event Purchaser elects to exercise its right
to construct and/or complete the Road, Seller hereby grants to Purchaser (and
Purchaser's agents) the right to come onto Seller's property as may be necessary for
such purposes.
4.(a) If Seller is performing or causing to be performed the work, then
Seller shall from time to time (but not more frequently than monthly) provide
reasonable evidence ("Draw Request") to Purchaser and Escrow Agent of the sums
expended for the work (in the form of invoices, statements and comparable
documentation), allow Purchaser to inspect the work (provided that Purchaser shall
conduct any such inspection so as not to interfere unreasonably with the progress
of the work and, if Purchaser fails to inspect the work within seven (7) business
days (as defined in the Contract) after the date of any Draw Request, Purchaser will
be deemed to have waived its inspection rights as to that Draw Request), and, if
requested by Purchaser, provide written lien releases in recordable form for work
done. Upon Purchaser's approval of such work and expenses, Seller and Purchaser
shall issue joint instructions to Escrow Agent to pay portions of the Escrowed
F.ld{slrplplT02991p29939Ba017:w:3l919912s e w 4
Mn'R, 18, 1999 10:46A1 BROWN PARKER & 1, 11 NO. 2487 P. 7/16
Amounts to cover such costs, less ten percent (10%) retainage in accordance with
Section 53.101 of the Texas Property Code ("Statutory Retainage"). Purchaser's
failure to respond to any Draw Request within seven (7) business days after Seller
delivers same shall be deemed Purchaser's approval of such work and instruction
to Escrow Agent to release that portion of the Escrowed Amounts (less Statutory
Retainage) specified in the Draw Request.
(b) If Purchaser is performing or causing to be performed the work
pursuant to paragraph 3 hereof, Escrow Agent shall release Escrowed Amounts,
less Statutory Retainage, to Purchaser from time to time (but not more frequently
than monthly) when Purchaser presents to Escrow Agent reasonable evidence (in
the form of invoices, statements and comparable documentation) of the work
performed, together with written lien releases in recordable form for work done,
Copies of such documentation will be delivered to Seller,
(c) Escrow Agent shall pay the Statutory Retainage upon the last to
occur of the following: (i) thirty (30) days have elapsed after the work is
completed, and an Affidavit of Completion has been filed pursuant to Section
53.106 of the Texas Property Code; (ii) Escrow Agent shall have received
disbursement instructions from (1) Seller and Purchaser if Seller is performing or
causing to be performed the work, or (2) Purchaser, if Purchaser is performing or
causing to be performed the work pursuant to paragraph 3 hereof; (iii) final-lien
releases in recordable form have been received from contractors and
subcontractors; and (iv) the City has accepted the dedication of the extension of
Longmire Road and has assumed the maintenance obligation of such road and the
utilities constructed in connection therewith. Seller and Purchaser agree to use all
reasonable efforts and to cooperate in achieving the earliest completion of the work
and acceptance thereof by the City and to take all steps necessary to complete the
dedication of such road.
5. If Escrow Period has not terminated within two (2) years from the date of this
Agreement, then Escrow Agent shall have the right to tender the balance of the Escrowed Amounts
into the registry of a District Court in Brazos County, Texas, with jurisdiction, so that the parties
may judicially resolve any disputes they may have with respect to the Escrowed Amounts.
6, Escrow Agent shall not be liable or responsible for the (a) nature or extent of the
evidence of compliance or performance on the part of any party; (b) correctness or details of any
invoice or bill submitted by any party; or (c) adequacy, workmanship, manner or completion of
all items or matters required to be furnished or done by any party.
7. In determining the occurrence of any event or contingency, Escrow -Agent may
request from the other parties hereto such reasonable additional information as Escrow Agent, in
F•IA.~.1wd01 Y40R001MO0[O~n ~11...,~rom.<.+<.
MAR, 18. 1999 10:47AM BROWN PARKER & LEAHY NO,2487 P. 8/16
its sole discretion, may deem necessary, and in that regard, may consult with representatives of
the other parties hereto. Escrow Agent shall not be liable for any damages resulting from any delay
in acting hereunder, pending its examination of the additional information requested.
8. In the event of any disagreement resulting in adverse claims or demands being made
in connection with any sums or property involved herein or affected hereby, Escrow Agent, at its
option, shall be entitled to:
(a) Refuse to comply with any claim or demand on Escrow Agent, as
long as such disagreement shall continue, and in so doing, Escrow Agent shall
make no delivery or disposition on any funds or documents being held by Escrow
Agent pursuant to the terms of this Escrow Agreement, and Escrow Agent shall not
be, or become liable in any way, or to any person, for its failure or refusal to
comply with such conflicting or adverse claim or demand;
(b) Refrain from acting, and so to refuse to act, until (i) the right of any
adverse claim shall have been finally adjudicated in a court assuming and having
jurisdiction, or (ii) all differences shall have been resolved by agreement, and
Escrow Agent shall have been notified in a writing, signed by all persons in
interest; or
(c) Interplead the Escrowed Amounts into a court of competent
jurisdiction. All costs and expenses, including reasonable attorneys fees and court
costs, are to be reimbursed to Escrow Agent from the Escrowed Amounts received.
9. Escrow Agent shall be under no obligation to take any legal action in connection
with this Escrow Agreement or enforcement thereof, or to appear in, prosecute or defend any
action or legal proceeding, which, in Escrow Agent's opinion, would or might involve Escrow
Agent in any cost, expense, loss or liability, unless, and as often as required by Escrow Agent,
Escrow Agent shall be famished with security and indemnity satisfactory to Escrow Agent against
all such costs, expenses, losses or liabilities.
10. Escrow Agent is not obligated to render any statements or notices to the parties.
Except as is specifically stated herein, Escrow Agent may, but is not obligated to, inform any party
hereto of any matters pertaining to this Escrow Agreement.
11. Purchaser and Seller hereby agree to indemnify, protect, save and hold harmless
Escrow Agent, its successors, assigns, and agents, from and against, any and all liabilities,
obligations, losses, damages, claims, actions, suits, costs, or expenses (including attorneys' fees
and court costs) of whatsoever kind or nature imposed on, incurred by, or asserted against Escrow
Agent which in any way relate to, or arise out of, the execution and delivery of this Escrow
Agreement and any action taken hereunder; provided, however, the parties hereto shall have no
F;~Aae~\.pO1716199~GZ99S91e•017:m:~19/99:r.23 Mn 6
MAR, 18, 1999 10;47AM BROWN PARKER & LHAIHY NO, 2487 F. 9/16
obligation to indemnify, save and hold harmless Escrow Agent, its successors, assigns and agents
from any liability incurred by, imposed upon, or asserted against it for its own willful misconduct
or gross negligence.
12. Escrow Agent may resign at any time, provided not less than sixty (60) days' prior
written notice is received by the parties hereto.
13. This Escrow Agreement cannot be amended or modified without the written
approval of all parties to this Escrow Agreement and the written consent of Escrow Agent.
14. This Escrow Agreement and all questions relating to its validity, interpretation,
performance and enforcement shall be governed by, and construed in accordance with, the laws
of the State of Texas; and the payment of all sums, and the performance of all obligations, shall
be in Brazos County, Texas.
15. It is understood and agreed that Escrow Agent makes no representations regarding
the terms and conditions of this Escrow Agreement.
16. All notices provided or permitted to be given under this a Agreement must be ill
writing and may be served by depositing same in the United States mail, addressed to.the party to
be notified, postage prepaid, and registered or certified, with return receipt requested; by delivering
the same in person to such party, as evidenced by a receipt from a recognized courier service; by
prepaid telegram or telex; or by facsimile copy transmission, as evidenced by a confirmation
produced by the sender's facsimile machine. Notice given in accordance herewith shall be effective
upon receipt at the address of the addressee. For purposes of notice, the addresses of the parties
shall be as follows:
If to Seller, to: Delmar Rock Prairie, Ltd.
c/o Mr. Frank Mihalopoulos
Christon Company
15900 Dooley Road
Dallas, Texas 75244
Telephone: (972) 233-3333
Facsimile: (972) 233-1501
with copy to: Mr. Christos Komissopoulos
First National Development
415 North LaSalle Street, Suite 200
Chicago, Illinois 60610
Telephone: (312) 527-9800, Ext. 1400
Facsimile: (312) 527-4664
Ww~,.pbire2~+oz59s9eaoi~:m:3rors9 ~:zs 7
LIAR, 18, 1999 10;48AM BROWN PARKER & LEAHY
If to Purchaser, to: CenterAmerica Property Trust, L.P.,
a Delaware limited partnership
Attn: Mr. Mike Axelrad
Suite 7503901 Bellaire Blvd.
Houston, Texas 77025
Telephone: (713) 660-4300
Facsimile: (713) 665-0450
with copy to: Mr. David M. Robins
Brown, Parker & Leahy, L.L.P.
1200 Smith Street, Suite 3600
Houston, Texas 77002
Telephone: (713) 951-5825
Facsimile: (713) 654-1871
If to Escrow Agent: American Title Company of Houston
5 Post Oak Park, Suite 1900
Houston, Texas 77027
Attn: Kim Sobieski
Telephone: (713) 965-9777
Facsimile: (713) 622-6450
NO. 2487 P. 10/15
Either patty hereto may change its address for notice by giving three (3) days prior written notice
to the other party.
17. No interest in this Agreement may be assigned without the prior written consent of
each party to this Agreement.
Executed to be effective as of the date first set forth above (the "date of this Agreement").
"ESCROW AGENT"
Date: 2 '1999
FAd=k-V IT0299~029919&.017:m L999 a ?S w.
TITLE COMPANY OF HOUSTON
By: f Vj).S
Name:
Title:Vir pRESlD
8
MAR, 18. 1999 10:48AM FROWN PARKER & LEAHY NO. 2487 P. 11/16
"SELLER"
Date: _ 3 art' , 1999 DELMAR ROCK PRAIRIE, LTD.
a Texas limited partnership
By. DELMAR ROCK PRAIRIE GP, LLC., a
Texas limited liability company
Its: General Partner
By:
Name:
Title:
F V]ATr.11YR0IT0299WZ99598~.01 :RHH:G3~D6+99:0/;~(lpp~ 9
MAR, 18, 1999 10: 48AM BROWN PARKER & LEAH NCB. 248 r P. 12/16
Date: '1999 "PURCHASER"
CENTERAMERICA PROPERTY TRUST, L.P.,
a Delaware limited partnership
By: _ I - 4,~c
Michae , Axelrad,
Executive Vice President
F:~1~1.rP1o1noa99WZ99S99e.o17:ps:3r9/g9:a;2s pm 10
"NInR. 18. 1999'~'10:48ANI"'-"PR0WN PARKER & LEAHY
EXHIBIT "A"
TRACT 1:
NC. 218 '-"P. I3V16
Mc= and bounds description of all that certain 12.55 acre tract or parcel of land` lying and
being silvered in the Robert Stevenson League, Abstract No. 54, College Starian, Brzzos County, Texas,
and being a portion out of that same 27.50 acre tract coavc7Cd from fim American Bad, SSB, et al, to
Delmar Invcs=c=s, lac, as des=bcd by deed recorded in VOLUME 3146, PAGE 186 of the O$cial
Records of B=zrs Co=ry, Tccas, said 1255 acre tract being more particularly described as follows:
RK DMG a a chiseled "5c" n=k in concrete, found mP.rldag the north corner of said 2750
acre tray and lying in the southeast righi-of--way line of Rock Praixie Road.
NCE S 32° 12' 2S-E-326.70 foci to a''/_" iron rod found marking the south corner ofLot
1, Block One, L. 0. Ball Memorial Subdivision, as depicted b? plat recorded in VOLUlvg 2555, PAGE
313 of said Official Records. _
VCE N 57° 47- 34- E - 200.00 fea with The southeast line of said Lot I to a'/T ban rod
found for corner and lying in the southwest rigly-of--uay sine of Texas Start Hi 6nmy No. 6.
EN CE S 32° 12' 26" E - 455.41 feet with said righi-of-way line To a Tex-DOT standard
concrete right-of way monument found for angle point
HEN
S 420 59` 35" E - 338.53 fct with said right-of--way lint to a'/•' iron rod found for
conic, and being the i=e secnioa %itb the narrbwest right-of--way lizzc of Birmingham Drive.
THENCE_ S 560 19' 13" v►%--149.16 feet with said rigbi-of-way line to a'/"I iron rod set for
bgzhtizg of a =-c to the right
UMNCE in a aorthwes=ly dirwdon 47.13 feet alone the arc of said =-ve ( Curve da=
ccnzal angle = 90° 00'00', radius - 30.00 fcct, =,ecnt = 30.00 feet, the chord bears N 78°'40' 48" W -
42.43 feet ) , to a K" iron rod sei for end of said curve , and lying in the proposed northcasc ri?ht-of-
umv line of Longmire Drive.
THE v(-E N 33° 40' 49" W - 86.62 feet with said proposed right-0f--wzy line to a'/•_- iron rod
set for beginning of a curve to the right
T1IEiCE in a northwmerly direction 244.8-4r feet along the arc of said cun-c (Curve data:
ctnual angle = 280 37' 47", radius - 490.00 feet, Tangent =1_'5.03 feet the chord bears N 19° 11' 56-
W - 242.31 feet ) . to a 'i-.' iron rod set for end of said curve.
Page t vt 2
nrrrr;:rn TritruAt 1) .1) n11 DOIAfT rikituAD f i 7-IOP 1
VAR. 18, 1999 10:4801 AmFJBROWlq PARkER & LEAHY't
NO. 2487 P-P. 14/16
rxE-v N 05° 03' 00" W- 387.88 feet witb said proposed right-of-way line to a'h" iron rod
sec for beginning of a have to the left
THN~F in a nortbwcstarly direction 265.44 feet alvag the art of said curve (Curve data
c==ral angle = Z7° 09'2S', radius - 560.00 fecT tangent =135-26 feat, the chord bears N 18° 37'46"
W - 262.96 feet), to a'f" iron rod set for end of said carve.
TREN'CE At 32O 12' 28" W - 43.06 fete with said proposed right-of-way line to a'/_T iron rod
set for beginning of a curve to the right.
THENCE in a northca=ly direction 47.13 feet along the arc of said curve (Curve dart eeatr-aI
ansle = 900 00' 00", radius = 30.00 feet, tangent = 30.00 feet the chord brats N 12° 47' 31" E - 42.45
feet) , to I iron rod set for end of said nave, and 1.%ing in the right-of-way line of Rod; Pzairit Road
THEN-CE r7 57° 47' 32w E - 216.48 f= with said rent-of-wy line w the MA_cjE a
B£GINIV r and conraizdng 12.35 acres of land.
Basis of Bearing: The ra===ted southwcat line of L.O. Ball Memorial Subdivision, called AT 32°
12' 28" Was depicted on the p1azrccorded in VOLVI-E 2555, PAGE 313.
TRACT 2 (EASEhffN`i
Togdhcr with the tigh=, titlo m,d ic= 't of Delmar Rock Prairie, Ltd, m aria w tha Shared
Ac=w Agrv==T retarded as Voltttnr 2553, Page 284, Page 293 and Page 3 0; of the Orncial
Rcal Propeny Rtcords ofBrazos Cotmty, T=m& .
page2 ore
nrr rY;rrn ft`rumAo rt I.i1Dl1 15 DIA1T TIUNIA0 11 1-IODU
'PROWN P,".RKER & LEAH'S
MAR, 18, 1999 10:014
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LIAR, 18. 1999 10:4911, PROVIN PARKER & LEAHY NO, 2487 P, 16/16
BUDGET FOR LONGMM ROAD
EXHIBIT "C"
Em~;ineeriag S 20,000
Street and Drainage Improvements 180,000
Utilitios (Water Improvements) 42,600
Mf sr.Canoous Items 26,700
Coacingency @ 10% s nnn
1 Total Estgmasod Cost S294,300
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Plans prepared by., ' M micipal Development Croup
2551 Texas Ave. South,
Suite A
College Station. Texas 77840
1 (409):693-5359
Dated: February 1999
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y £XEiIBIT "C" '
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P,eceived Time Mar. 8. 1:51PM Priat Time Mar. 8. 1:52PM