HomeMy WebLinkAbout09-11-14-2b - Resolution - 09/12/2014RESOLUTION NO.09-1 I-14 2b
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLLEGE STATION,
TEXAS, CONSENTING TO THE CITY COUNCIL OF THE CITY OF BRYAN
PROVIDING ECONOMIC DEVELOPMENT INCENTIVES TO A BUSINESS PROSPECT
LOCATED IN THE JOINT RESEARCH VALLEY BIOCORRIDOR DEVELOPMENT
PROJECT.
WHEREAS, the City of College Station, Texas, and the City of Bryan, Texas entered into an
agreement (ILA) which sets forth the understandings and obligations of the Cities with respect to
certain infrastructure projects and a joint economic development program known as the Joint
Research Valley BioCorridor Development Project; and
WHEREAS, the promotion of the expansion of existing businesses within the Cities and the
recruitment of new business enterprises to the Cities will promote economic development,
stimulate commercial activity, generate additional sales tax and will enhance the property tax base
and economic vitality of the Cities; and
WHEREAS, the ILA requires joint approval of all economic development incentives to business
prospects or development within the Joint Research Valley BioCorridor Development Project;
now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLLEGE STATION,
TEXAS:
PART 1: That the City Council hereby consents to the City Council of the City of Bryan
providing economic development incentives to Kalon Biotherapeutics, L.L.C. as
shown in the Economic Development Agreement Between the City of Bryan and
Kalon Therapeutics, L.L.C., attached as Exhibit A.
PART 2: That the City Council's consent in this Resolution shall serve as written approval
for the purposes of the ILA.
PART 3: That this Resolution shall take effect immediately from and after its passage.
ADOPTED this 11th day of September, A.D. 2014.
TTEST:
)11 •
APPROVED:
APPROVED:
am,& 4 XPi J -7/L
City Attorney
MAYOR
EXHIBIT A
ECONOMIC DEVELOPMENT AGREEMENT BETWEEN THE
CITY OF BRYAN AND KALON BIOTHERAPEUTICS, L.L.C.
This Grant Agreement (this "Agreement") is entered into by and between the CITY OF
BRYAN, TEXAS, a home -rule municipal corporation organized under the laws of Texas
(hereinafter referred to as "CITY"), and KALON BIOTHERAPEUTICS, L.L.C., a Texas Limited
Liability Company (hereinafter referred to as "DEVELOPER").
WHEREAS, CITY is authorized by Chapter 380 of the TEXAS LOCAL GOVERNMENT CODE to make
grants of public money to promote state and local economic development; and
WHEREAS, CITY desires to stimulate business and commercial activity in the City and
in the Research Valley Biocorridor (hereinafter referred to as the `Biocorridor") under the Joint
Research Valley Biocorridor Development Project; and
WHEREAS, DEVELOPER is developing property located within the Biocorridor as
commercial development for use as a research and manufacturing site; and
WHEREAS, CITY and the City of College Station entered into an Interlocal Cooperation
and Joint Development Agreement on December 15, 2011 (hereinafter referred to as the "Joint
Agreement"), in which the two cities agree to revenue share an amount equal to certain ad valorem
tax revenue assessed and collected against real property, improvements and tangible personal
property developed in the Biocorridor; and
WHEREAS, Article V of the Joint Agreement provides neither city shall provide any tax
abatement, payment in lieu of taxes or PILOT or other economic development incentive to a
business prospect or development within the Project Site (as such term is defined in the Joint
Agreement) without the prior written approval of the other City expressed by means of an
ordinance or resolution of such City.
WHEREAS, the City of College Station approved a similar Economic Development
Incentive Agreement with Developer conditioned upon CITY entering in to an agreement with
DEVELOPER granting to DEVELOPER CITY's portion of revenue earned under the Joint
Agreement; and
WHEREAS, CITY considers DEVELOPER to be a qualified economic development
prospect that will add capital investment, and create new jobs in the community; and
WHEREAS, in consideration of DEVELOPER's operation of its business within the
Biocorridor and in accordance with the performance measures set forth herein, CITY agrees to
grant to DEVELOPER Cash Incentives as set out herein; and
WHEREAS, to ensure that the benefits CITY provides under this Agreement are utilized
in a manner consistent with TEXAS LOCAL GOVERNMENT CODE, Chapter 380 and other law,
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EXHIBIT A
DEVELOPER agrees to comply with certain conditions for receiving those benefits, including
conditions relating to property development, job creations and business operations; and
WHEREAS, by letter of December 12, 2012, The Research Valley Partnership, Inc.
("RVP") informed DEVELOPER that its Board of Directors, which includes representatives of
CITY and the City of College Station, had approved the incentives proposal being implemented
by this Agreement, subject to final approval and adoption by the City of College Station and CITY;
and
WHEREAS, as of December 31, 2012, DEVELOPER had 31 full-time employees, and
DEVELOPER's calendar year 2012 payroll reported to the Texas Workforce Commission for all
full-time employees (some of whom were hired during 2012) was $1.9 million; and
WHEREAS, in reliance on the incentives proposal communicated to DEVELOPER by
RVP, DEVELOPER has begun hiring new full-time employees, and after the execution of this
Agreement will continue to add new employees in order to meet the employment requirements of
this Agreement;
NOW, THEREFORE, for and in consideration of the premises and mutual covenants and
promises hereinafter set forth, CITY and DEVELOPER (each a "Party," collectively, the
"Parties") represent and agree as follows:
Article I
Definitions
Wherever used in this Agreement, the following terms shall have the meanings ascribed to
them:
"Affiliate" means any person or entity which directly or indirectly controls, is controlled
by or is under common control with Developer, during the term of such control. A person or entity
will be deemed to be "controlled" by any other person or entity if such other person or entity (a)
possesses, directly or indirectly, power to direct or cause the direction of the management of such
person or entity whether by contract or otherwise, (b) has direct or indirect ownership of at least
fifty percent (50%) of the voting power of all outstanding shares entitled to vote at a general
election of directors of the person or entity or (c) has direct or indirect ownership of at least fifty
percent (50%) of the equity interests in the entity.
"Base Year Taxable Value" shall mean the Taxable Value for the Property for the year in
which this Agreement is executed.
"Cash Incentive(s)" shall mean that amount paid each year by CITY to DEVELOPER as a
grant under TEXAS LOCAL GOVERNMENT CODE, Chapter 380. Such amount shall be calculated
based upon an annually reducing percentage of the ad valorem taxes generated by the Property,
Improvements and Tangible Personal Property during each year of the Agreement.
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EXHIBIT A
"Completion of Construction" shall mean: (i) substantial completion of the Improvements;
and (ii) a final certificate of occupancy has been issued for the Improvements.
"Effective Date" shall mean the date upon which this Agreement is fully executed by all
Parties, unless the context indicates otherwise.
"First Year of Cash Incentive(s)" shall mean the first calendar year immediately following
the date of Completion of Construction.
"FTE" shall mean any person (i) who is an employee of DEVELOPER or an Affiliate
(excluding temporary or seasonal employees) who is on the payroll in a budgeted position and has
an officially scheduled work week of thirty-five (35) hours or more and who according to
DEVELOPER or Affiliate company policy is entitled to full benefits as a full time employee or
(ii) who is an independent contractor engaged by DEVELOPER or an Affiliate to provide services
supporting Biocorridor operations and who has received compensation from DEVELOPER or an
Affiliate based on an average of at least thirty-five (35) hours worked per week for the two (2) months
preceding a date on which FTEs are measured for purposes of this Agreement.
"Force Majeure" shall mean any contingency or cause beyond the reasonable control of a
Party including, without limitation, acts of God or the public enemy, war, riot, civil commotion,
insurrection, adverse weather, government or de facto governmental action (unless caused by acts
or omissions of such Party), fires, explosions or floods, strikes, slowdowns or work stoppages.
"Gross Payroll" shall mean the sum of (A) the payroll numbers that DEVELOPER or an
Affiliate reports to the Texas Workforce Commission quarterly for employees for the four
preceding consecutive calendar quarters ending on or prior to a date of measurement under this
Agreement plus (B) the sum of the amounts of nonemployee compensation reported on Internal
Revenue Service Forms 1099 issued by DEVELOPER or an Affiliate to independent contractors
who are FTEs for services rendered during the twelve preceding consecutive calendar months
ending on or prior to a date of measurement under this Agreement.
"Improvements" shall mean the live virus vaccine facility and pandemic influenza facility
to be constructed on the Property and other ancillary facilities such as reasonably required parking
and landscaping more fully described in the submittals filed by DEVELOPER with CITY, from time
to time, in order to obtain a building permit(s).
"Property" means the real property depicted in Exhibit "A", not including any
improvements constructed on such real property.
"DEVELOPER" shall mean KALON BIOTHERAPEUTICS, L.L.C.
"Premises" shall mean collectively, the Property and Improvements following construction
thereof, but excluding the Tangible Personal Property.
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EXHIBIT A
"Shared Revenue" shall mean the "Shared Revenue" as defined in the Joint Agreement that
is attributable to ad valorem taxes paid by any person with respect to the Property, the Improvements
and the Tangible Personal Property.
"Tangible Personal Property" shall mean tangible personal property, equipment and
fixtures, excluding inventory and supplies, owned or leased by DEVELOPER that is added to the
Improvements subsequent to the execution of this Agreement.
"Taxable Value" means the appraised value as certified by the Brazos Central Appraisal
District as of January 1st of a given year.
Article II
General Provisions
2.1 All of the above premises are hereby found to be true and are hereby approved and
copied into the body of this Agreement as if copied in their entirety.
2.2 DEVELOPER owns or is under contract to own the Property, which Property is
located within the city limits of the City of College Station and within the Biocorridor. DEVELOPER
intends to construct or cause to be constructed and to operate the Improvements on the Property.
2.3 DEVELOPER shall, before August 25th of each calendar year that the Agreement
is in effect, certify in writing to CITY that it is in compliance with each term of the Agreement.
2.4 The Property and the Improvements constructed thereon at all times shall be used in
the manner (i) that is consistent with CITY' s Comprehensive Zoning Ordinance, as amended, and (ii)
that, during the period Cash Incentives are provided hereunder, is consistent with the general purposes
of encouraging development or redevelopment within the Biocorridor.
Article III
Cash Incentives Authorized
3.1 Subject to the terms and conditions of this Agreement, and provided that the combined
Taxable Value for the Improvements, Property and Tangible Personal Property is at least Seventy
Million Dollars ($70,000,000.00) additional value above Base Year Taxable Value as of January 1st
of the First Year of Cash Incentives and as of January 1st of each year thereafter that this Agreement
is in effect, CITY hereby grants an annual Cash Incentive to DEVELOPER in the following amounts:
Year Annual Cash Incentive
First Year of Cash Incentives $74,061.25
Year 2 $65,832.22
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EXHIBIT A
Year 3 $57,603.20
Year 4 $57,603.20
Year 5 $57,603.20
Year 6 $57,603.20
Year 7 $41,145.14
3.2 The total amount paid under this Agreement will in no event exceed $411,451.41,
at which time CITY's obligation to grant Cash Incentives to DEVELOPER ends.
3.3 CITY will remit the first annual Cash Incentive to DEVELOPER no later than
October 31St of the First Year of Cash Incentive. CITY will remit subsequent annual Cash Incentives
no later than October 31' of each year thereafter for the term of this Agreement.
3.4 During the period of the Cash Incentives herein authorized, DEVELOPER shall be
subject to all taxation, including but not limited to, sales tax and ad valorem taxation; provided, this
Agreement does not prohibit DEVELOPER from claiming any exemptions from tax provided by
applicable law.
3.5 DEVELOPER agrees to continuously own the Premises for a period of at least
seven (7) years beginning with the First Year of Cash Incentives; provided, (i) DEVELOPER
without CITY consent may engage in a sale-leaseback or similar transfer of ownership of the
Premises as long as DEVELOPER continues to occupy and operate the Premises, (ii)
DEVELOPER without CITY consent may transfer ownership of the Premises to an Affiliate; and
(iii) DEVELOPER may transfer ownership of the Premises to a person that CITY approves as an
assignee of this Agreement pursuant to Section 9.8 of this Agreement.
3.6 The term of this Agreement shall begin on the Effective Date and shall continue
until December 31' of the calendar year following the seventh (7th) anniversary date of the First
Year of Cash Incentives, unless sooner terminated as provided herein.
Article IV
Improvements
4.1 DEVELOPER owns or is under contract to own the Property and intends to construct
or cause to be constructed thereon the Improvements, and locate Tangible Personal Property thereon.
4.2 As a condition precedent to the initiation of DEVELOPER's Cash Incentives pursuant
to this Agreement, DEVELOPER agrees, subject to events of Force Majeure, to cause Completion of
Construction of the Improvements to occur no later than December 31, 2015, as good and valuable
consideration for this Agreement, and that all construction of the Improvements will be in accordance
with all applicable state and local laws, codes, and regulations (or valid waiver thereof).
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EXHIBIT A
4.3 Construction plans for the Improvements constructed on the Property will be filed
with CITY, which shall be deemed to be incorporated by reference herein and made a part hereof for
all purposes.
4.4 DEVELOPER agrees to maintain the Improvements during the term of this
Agreement in accordance with all applicable state and local laws, codes, and regulations.
4.5 CITY, its agents and employees shall have the right of access to the Premises during
construction to inspect the Improvements at reasonable times and with reasonable notice to
DEVELOPER, and in accordance with visitor access and security policies of DEVELOPER, in order
to insure that the construction of the Improvements are in accordance with this Agreement and all
applicable state and local laws and regulations (or valid waiver thereof).
Article V
Employment and Job Creation
DEVELOPER agrees that on or before January 1, 2018, and each year thereafter for the
term of this Agreement, DEVELOPER will employ no fewer than a total of 100 FTE's with a total
Gross Payroll no less than $6,000,000. On or before, August 25, 2018, and August 25th of each
year thereafter, DEVELOPER shall deliver to CITY documentation, including, but not limited to,
Texas Workforce Commission quarterly reports, demonstrating that DEVELOPER met the
employment and job creation targets for the preceding year.
Article VI
Condition Precedent
CITY's obligation each year to pay the Cash Incentive to Developer under the terms of this
Agreement is conditioned upon CITY's receipt of its portion of the Shared Revenue from the City
of College Station for that year in accordance with the terms of the Joint Agreement. If the City of
College Station fails to pay CITY its portion of the Shared Revenue in any given year, in accordance
with the terms of the Joint Agreement, CITY shall have no obligation to pay to Developer any Cash
Incentive under this Agreement for that year.
Article VII
Default
8.1 If DEVELOPER defaults in any term or condition of this Agreement, then CITY shall
not be obligated to approve disbursement of the Cash Incentives for that year in which the default
occurred.
8.2 CITY shall give to DEVELOPER notice of any default. To the extent a default
may be cured, DEVELOPER shall have the right, but not the obligation, to cure the default within
thirty (30) days of receiving written notice from CITY. If the default cannot reasonably be cured
within a thirty (30) day period, and DEVELOPER has diligently pursued such remedies as shall be
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EXHIBIT A
reasonably necessary to cure such default, then CITY shall extend for a reasonable additional length
of time the period in which the default must be cured. If DEVELOPER fails to cure the default within
the time provided as specified above or, as such time period may be extended, then CITY at its sole
option shall have the right to terminate this Agreement with respect to DEVELOPER, by written
notice to DEVELOPER.
8.3 In the event a Party defaults, then the other Party shall have available to it all
remedies at law and equity.
Article VIII
Miscellaneous
9.1 Notice. Any notice required or permitted to be delivered hereunder shall be deemed
received three (3) days thereafter sent by United States Mail, postage prepaid, certified mail, return
receipt requested, addressed to the Party at the address set forth below or on the day actually
received as sent by courier or otherwise hand delivered:
If intended for CITY, to:
Attn: City Manager
City of Bryan, Texas
P. O. Box 1000
Bryan, Texas 77803
If intended for DEVELOPER, to:
Attn: Controller
KALON BIOTHERAPEUTICS, LLC
100 Discovery Drive, Suite 200
College Station, Texas 77845
With a copy to:
Attn: City Attorney
City of Bryan, Texas
P.O. Box 1000
Bryan, Texas 77803
9.2 Severability. In the event any section, subsection, paragraph, sentence, phrase or word
herein is held invalid, illegal or unconstitutional, the balance of this Agreement shall stand, shall be
enforceable and shall be read as if the Parties intended at all times to delete said invalid section,
subsection, paragraph, sentence, phrase or word.
9.3 Governing Law. This Agreement shall be governed by the laws of the State of Texas
without regard to any conflict of law rules. Exclusive venue for any action under this Agreement
shall be the State District Court of Brazos County, Texas. The Parties agree to submit to the personal
and subject matter jurisdiction of said court.
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EXHIBIT A
9.4 Counterparts. This Agreement may be executed in any number of counterparts, each
of which shall be deemed an original and constitute one and the same instrument.
9.5 Entire Agreement. This Agreement embodies the complete agreement of the Parties
hereto, superseding all oral or written previous and contemporary agreements between the Parties and
relating to the matters in this Agreement, and except as otherwise provided herein cannot be modified
without written agreement of the Parties to be attached to and made a part of this Agreement.
9.6 Recitals. The determinations recited and declared in the preambles to this Agreement
are hereby incorporated herein as part of this Agreement.
9.7 Exhibits. All exhibits to this Agreement are incorporated herein by reference for all
purposes wherever reference is made to the same.
9.8 Assignment. This Agreement shall be binding on and inure to the benefit of the
Parties to it and their respective heirs, executors, administrators, legal representatives, successors,
and permitted assigns. This Agreement may not be assigned by DEVELOPER without the prior
written consent of the City Manager which consent shall not be unreasonably withheld,
conditioned or delayed.
9.9 Right of Offset. CITY may at its option, offset any amounts due and payable under
this Agreement against any debt (including taxes) lawfully due to CITY from DEVELOPER,
regardless of whether the amount due arises pursuant to the terms of this Agreement or otherwise
and regardless of whether or not the debt due CITY has been reduced to judgment by a court;
provided, however (i) CITY shall provide DEVELOPER notice within thirty (30) days of
determining that any debt is believed lawfully due to CITY from DEVELOPER; (ii) DEVELOPER
shall have an opportunity to resolve or pay such debt to CITY within thirty (30) days after receipt
of notice before any offset to amounts payable under this Agreement may occur; and (iii)
DEVELOPER retains all rights to timely and properly contest whether or in what amount any debt
is owed to CITY, and CITY may not offset any asserted amount of debt owed by DEVELOPER
against amounts due and owing under this Agreement during any period during which
DEVELOPER is timely and properly contesting whether such amount of debt is due and owing.
9.10 Amendment. No amendment to this Agreement shall be effective and binding
unless and until it is reduced to writing and signed by duly authorized representatives of CITY and
DEVELOPER.
9.11 Place of Performance. Performance and all matters related thereto shall be in
Brazos County, Texas, United States of America.
9.12 Authority to Contract. Each Party has the full power and authority to enter into and
perform this Agreement, and the person signing this Agreement on behalf of each Party has been
properly authorized and empowered to enter into this Agreement. The persons executing this
Agreement hereby represent that they have authorization to sign on behalf of their respective
corporations.
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EXHIBIT A
9.13 No Debt. Under no circumstances shall the obligations of CITY hereunder be
deemed to create any debt within the meaning of any constitutional or statutory provision;
provided; however, CITY agrees during the term of this Agreement to make a good faith effort to
appropriate funds each year to pay amounts under this Agreement for the then ensuing fiscal year.
9.14 Waiver. Failure of any Party, at any time, to enforce a provision of this Agreement,
shall in no way constitute a waiver of that provision, nor in any way affect the validity of this
Agreement, any part hereof, or the right of the Party thereafter to enforce each and every provision
hereof. No teini of this Agreement shall be deemed waived or breach excused unless the waiver
shall be in writing and signed by the Party claimed to have waived. Furthermore, any consent to
or waiver of a breach will not constitute consent to or waiver of or excuse of any other different or
subsequent breach.
9.16 Confidentiality. CITY shall notify DEVELOPER within two (2) business days after
receiving any Public Information Act request that seeks disclosure of information provided by or
concerning DEVELOPER, and the Parties will reasonably cooperate to determine within four (4)
business days after CITY' s receipt of a Public Information Act Request whether or to what extent
they agree that the requested information may be released without objection and without seeking
a written opinion of the Texas Attorney General. If agreed by the Parties, CITY shall take the
position that specified information responsive to a Public Infonuation Act request relating to
DEVELOPER is information not subject to release to the public pursuant to Section 552.110 of
the TExAs GOVERNMENT CODE, or other applicable law. If DEVELOPER requests that CITY take
the position that specified information responsive to a Public Information Act request relating to
DEVELOPER is information not subject to release to the public pursuant to Section 552.110 of
the TExAs GOVERNMENT CODE, or other applicable law, but CITY does not agree, CITY
nonetheless shall take such position if DEVELOPER within eight (8) business days after CITY's
receipt of a Public Information Act request delivers to the CITY an opinion of counsel reasonably
acceptable to CITY concluding that CITY has a good faith basis to take such position. If pursuant
to this Section 9.16 CITY takes the position that specified information responsive to a Public
Information Act request relating to DEVELOPER is information not subject to release, CITY shall
seek a written opinion from the Texas Attorney General raising any applicable exception to release
of such information prior to any release to a third party under the Texas Public Information Act.
If CITY seeks a written opinion from the Texas Attorney General pursuant to Section 552.305 of
the Texas Government Code, CITY may require DEVELOPER to draft and submit to the Texas
Attorney General the substantive comments or arguments in support of such opinion request.
CITY shall provide DEVELOPER timely notice and an opportunity to review and comment on
any opinion request submitted by CITY.
9.17 Employment of Undocumented Workers. During the term of this Agreement,
DEVELOPER agrees not to knowingly employ any undocumented workers and, if convicted of a
violation under 8 U.S.C. Section 1324a (f), DEVELOPER shall repay to CITY all Cash Incentives
received under this Agreement as of the date of such violation within 120 days after the date
DEVELOPER is notified by CITY of such violation, plus interest at the rate of 5% simple interest
from the date of DEVELOPER's receipt of the Cash Incentives until repaid.
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EXHIBIT A
9.18 Construction. The Parties acknowledge that each Party and its counsel have
reviewed and revised this Contract and that the normal rule of construction to the effect that any
ambiguities are to be resolved against the drafting Party shall not be employed in the interpretation
of this Contract or any amendments or exhibits hereto.
KALON BIOTHERAPEUTICS, L.L.C., CITY OF BRYAN, TEXAS
BY: BY:
Andrew Strong, Chief Executive Officer Jayson P. Bienski, Mayor
Date: Date:
THE STATE OF TEXAS §
COUNTY OF §
ATTEST:
Mary Lynne Stratta, City Secretary
APPROVED:
Janis K. Hampton, City Attorney
ACKNOWLEDGMENT
Before me, the undersigned authority, on this day personally appeared Andrew Strong,
Chief Executive Officer of KALON BIOTHERAPEUTICS, L.L.C., a Texas Limited Liability
Company, and known to me to be the person whose name is subscribed to the foregoing instrument,
and acknowledged to me that he executed the same for the purposes and consideration therein
expressed.
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EXHIBIT A
Given under my hand and seal of office on this the
of , 2014.
Notary Public in and for the State of Texas
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EXHIBIT A
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EXHIBIT "A"
LEGAL DESCRIPTION OF PROPERTY
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EXHIBIT "A"
LEGAL DESCRIPTION OF LAND
METES AND BOUNDS DESCRIPTION
OF A 12,45 ACRE TRACT
J. H. JONES SURVEY, A-26
COLLEGE STATION, BRAZOS COUNTY, TEXAS
METES AND BOUNDS DESCRIPTION OF ALL THAT CERTAIN TRACT OR PARCEL OF LAND
LYING AND BEING SITUATED IN COLLEGE STATION, BRAZOS COUNTY, TEXAS. SAID TRACT
BEING A PORTION OF THE REMAINDER OF A CALLED 417.85 ACRE TRACT AS DESCRIBED 13Y A
DEED TO BRYAN COMMERCE AND DEVELOPMENT, INCORPORATED, RECORDED IN VOLUME 4023,
PAGE 91 OF THE OFFICIAL PUBLIC RECORDS OF BRAZOS COUNTY, TEXAS.
SAID TRACT BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
COMMENCING AT A CONCRETE MONUMENT FOUND MARKING THE WEST CORNER OF A CALLED
11.6 ACRE TRACT AS DESCRIBED BY A DEED TO LOVELESS ACRES, LC, RECORDED TN VOLUME
7004, PAGE 104 OF THE OFFICIAL PUBLIC RECORDS OF BRAZOS COUNTY, TEXAS, AND AN
INTERIOR EAST CORNER OF SAID REMAINDER OF 417,85 ACRE TRACT;
THENCE: S 34° 24' 12" W THROUGH SAID REMAINDER OF 417.85 ACRE TRACT FOR A DISTANCE OF
2225.78 FEET TO THE POINT OF BEGINNING OF THIS HEREIN DESCRIBED TRACT, FOR REFERENCE
A 3/4 INCH IRON PIPE FOUND ON THE NORTHWEST LINE OF A CALLED 3,50 ACRE TRACT AS
DESCRIBED BY A DEED TO CHRIS DAILEY AND MARGARET DAILEY RECORDED IN VOLUME 6981,
PAGE 232 OF THE OFFICIAL PUBLIC RECORDS OF BRAZOS COUNTY, TEXAS, MARKING THE SOUTH
CORNER OF A CALLED 4.8885 ACRE TRACT AS DESCRIBED BY A DEED TO TRADITIONS
ACQUISITION PARTNERSHIP, LP, RECORDED IN VOLUME 10784, PAGE 260 OF THE OFFICIAL PUBLIC
RECORDS OF BRAZOS COUNTY, TEXAS, AND AN EASTERLY. CORNER OF SAID REMAINDER OF
417.85 ACRE TRACT BEARS: N 83° 02' 30" E FOR A DISTANCE OF 2374.31 FEET FROM WHICH
ANOTHER % INCH IRON PIPE FOUND ON THE SOUTHEAST LINE OF SAID REMAINDER OF 417.85
ACRE TRACT MARKING THE WEST CORNER OF SAID 3.50 ACRE TRACT BEARS: S 44°39' 09" W FOR
A DISTANCE OF 39,95 FEET;
THENCE: THROUGH SAID REMAINDER OF 417,85 ACRE TRACT FOR THE FOLLOWING CALLS:
S 65° 4410" E FOR A DISTANCE OF 137.18 FEET;
N no 37' 49" E FOR A DISTANCE OF 71.58 FEET;
S 71° 35' 47" E FORA DISTANCE OF 130.27 FEET;
5 49 04' 50" E FOR A DISTANCE OF 40,59 FEET;
S 64° 25' 29" E FOR A DISTANCE OF 110.79 FEET;
S 28° 01' 33" E FOR A DISTANCE OF 89.86 FEET;
S 12° 04' 31" E FORA DISTANCE OF 104.79 FEET;
S 31° 06' 30" E FOR A DISTANCE OF 81.86 FEET;
S 410 51' 48" W FOR A DISTANCE OF 572.50 FEET;
N 48° 08' 12" W FOR A DISTANCE OF 104.00 FEET;
S 41° 51' 48" W FORA DISTANCE OF 217.00 FEET;
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N 48° 08' 12" W FOR A DISTANCE OF 575,00 FEET;
N 419 51' 48" E FOR A DISTANCE OF 71823 FEET TO THE POINT OF BEG1NNING CONTAINING 12.45
ACRES OF LAND, MORE OR LESS, BEARING SYSTEM SHOWN HEREIN IS BASED ON GRID NORTH AS
ESTABLISHED FROM GPS OBSERVATION.
BRAD KERR
REGISTERED PROFESSIONAL
LAND SURVEYOR No, 4502
BXUThIT A
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