HomeMy WebLinkAboutResolution No. 2015-008 CITY OF THE COLONY,TEXAS
RESOLUTION NO. 2015-008
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF THE
COLONY, TEXAS, AUTHORIZING AND APPROVING THE
EXECUTION OF A PRIVATE TRANSFER AGREEMENT (GRANT BY
SPECIAL WARRANTY DEED) BY AND BETWEEN THE COLONY
LOCAL DEVELOPMENT CORPORATION AND LMG VENTURES, LLC,
A TEXAS LIMITED LIABILITY COMPANY, CONCERNING THE
CONVEYANCE OF AN APPROXIMATELY 16.815 ACRE TRACT OF
LAND; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING
FOR AN IMMEDIATE EFFECTIVE DATE.
WHEREAS, The Colony Local Development Corporation (hereinafter referred to as the
"LDC") has been created and organized as a public, nonprofit local government corporation
incorporated pursuant to Subchapter D of Chapter 431, Texas Transportation Code, as amended
to aid, assist and act on behalf of the City of The Colony, Texas (hereinafter referred to as the
"City") in the performance of the City's governmental functions; and
WHEREAS, LDC is the sole owner of the approximately 16.815 acres of land subject to
the Private Transfer Agreement (Grant by Special Warranty Deed), a copy of which is attached
hereto as Exhibit A, pursuant to Instrument Numbers 2014-30675, 2014-30676, and 2014-30677
filed and recorded in the Real Property Records of Denton County, Texas; and
WHEREAS, on or about January 20, 2015, the Board of Directors of the LDC approved
the Private Transfer Agreement (Grant by Special Warranty Deed) a copy of which is attached
hereto as Exhibit A, conveying an approximately 16.815 acre tract of land to LMG Ventures,
LLC; and
WHEREAS, the form of the Private Transfer Agreement (Grant by Special Warranty
Deed) was approved as part of the bond validation suit styled Ex parte The Colony, in the 53rd
Judicial District Court, Travis County, Texas, Cause No. 0-1-GV-11-001995, decided January
18, 2012, Trial Exhibit No. 38; and
WHEREAS, the City Council for the City of The Colony, Texas, finds and determines it
is in the best interest of the City of The Colony, Texas, to approve the Private Transfer
Agreement (Grant by Special Warranty Deed) by and between the LDC and LMG Ventures,
LLC, a copy of which is attached hereto as Exhibit A.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF THE COLONY,TEXAS,THAT:
SECTION 1. The findings set forth above are hereby found to be true and correct findings
of the City and are incorporated into the body of this Resolution as if fully set forth herein.
SECTION 2. The City Council of the City of The Colony, Texas, does hereby approve
and authorize the President of the LDC to execute the Private Transfer Agreement (Grant by
Special Warranty Deed) by and between the LDC and LMG Ventures, LLC, a copy of which is
attached hereto as Exhibit A, and is incorporated herein for all purposes.
SECTION 3. If any section, article paragraph, sentence, clause, phrase or word in this
Resolution, or application thereto to any persons or circumstances, is held invalid or
unconstitutional by a Court of competent jurisdiction, such holding shall not affect the validity of
the remaining portions of this Resolution; and the City Council hereby declares it would have
passed such remaining portions of this Resolution despite such invalidity, which remaining portions
shall remain in full force and effect.
SECTION 4. This Resolution shall become effective immediately upon passage.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF THE
COLONY,TEXAS,THIS THE 20th day of JANUARY,2015.
1 <�' e McCo Mayor
S1-41a4 t
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A 4.4,`-'
VW"tie Wilson, City Secretary
APPROVED AS TO FORM:
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7' Jeff Moore City Attorney
Page 2
Exhibit A
Private Transfer Agreement
(Grant by Special Warranty Deed)
[for an approximately 16.815 acre tract of land]
NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON,
YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING
INFORMATION FROM THIS INSTRUMENT BEFORE IT IS FILED FOR RECORD IN
THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR
DRIVER'S LICENSE NUMBER.
PRIVATE TRANSFER AGREEMENT
(GRANT by SPECIAL WARRANTY DEED)
THE STATE OF TEXAS §
§ KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF DENTON §
After making findings that this grant is authorized by Texas Tax Code
Section 311.010(h), serves the legitimate public purpose of promoting economic development,
and affords a clear public benefit in terms of both increased tax revenue and job opportunities,
THE COLONY LOCAL DEVELOPMENT CORPORATION, a Texas non-profit corporation
("Grantor"), for and in consideration of the sum of Ten and No/100 Dollars ($10.00) and other
valuable non-monetary consideration in the form of the Additional Consideration (defined
below), the receipt and sufficiency of which consideration are hereby acknowledged to be
adequate, has GRANTED, SOLD, AND CONVEYED, and by these presents does hereby
GRANT, SELL AND CONVEY, unto LMG VENTURES, LLC, a Texas limited liability
company ("Grantee") having an address of 700 S. 72 Street, Omaha, NE 68114 all that real
property situated in the County of Denton, State of Texas, and more particularly described on
Exhibit "A" attached hereto and made a part hereof for all purposes plus all of Grantor's right,
title and interest in and to (i) all improvements and related amenities located in and on such real
property, (ii) easements, if any, benefiting such real property, (iii) the oil, gas, and other minerals
(and all executory and leasing rights relating thereto) that are in and under such real property and
that may be produced from such real property and (iv) appurtenances, if any, pertaining to such
real property, including any right, title and interest of Grantor in and to: (a) water wells and any
other permits for utilities, drainage and detention rights which serve or which will serve the land
and improvements now or hereafter constructed thereon; (b) any architectural plans and
specifications, surveys, engineering, soils, seismic, geological and environmental reports,
studies, certificates and other technical descriptions applicable to the land and/or improvements;
(c) any warranties, guaranties, indemnities, claims and causes of action, to the extent applicable
to the land and/or improvements; (d) any licenses, permits, governmental approvals, utility
commitments, utility rights, reimbursement rights, development rights or other similar rights;
(e) any rights to credits, refunds, and reimbursements including without limitation any credits
against, or right to pay reduced application fees, permit fees, inspection fees or impact fees
applicable to the land; (f) any rights under zoning cases, preliminary plans, plats, and other
development applications and approvals; and (g) all other development rights, powers,
privileges, options, or other benefits associated with, that pertain to, are attributable to, are
appurtenant to, apply to, or which otherwise directly benefit the land (collectively, the
"Property").
The "Additional Consideration" for this transfer includes the following grant performance
standards:
1. Grantee's use of the Property increasing the property tax revenues and sales tax
revenues (if Grantee is a retailer) collected by Grantor or the City of The Colony, Texas, within
Tax Increment Reinvestment Zone Number One, City of The Colony, Texas (the "Zone").
2. On January 1 of the first calendar year after the Facility defined in the Final
Project and Finance Plan for Tax Increment Reinvestment Zone Number One, Cityof The
Colony, Texas, adopted by the Board of Directors of the Zone on November 15, 2011, and
approved by the City Council on November 15, 2011 (the "Project and Finance Plan") is open
for business to the public, TXFM, Inc., a Texas corporation, causing the Facility to provide a
minimum of 850 Full-Time Equivalent Jobs as defined in the Project and Finance Plan. If the
Facility does not provide the required minimum number of Full-Time Equivalent Jobs, the
penalty provisions included in that certain Development and Tax Increment Payment Agreement
approved by Grantor on November 15, 2011, shall apply to TXFM, Inc.
3. This Private Transfer Agreement is made and accepted expressly subject to the
matters set forth on Exhibit "B" attached hereto and made a part hereof for all purposes and
subject to the lien for all ad valorem taxes arising after the date hereof the payment of which
Grantee hereby assumes (collectively, the "Permitted Encumbrances").
TO HAVE AND TO HOLD the Property, subject to the Permitted Encumbrances,
together with all and singular the rights and appurtenances belonging in any way to the Property,
unto the said Grantee, its successors and assigns forever, and Grantor binds itself and its
successors and assigns to warrant and forever defend all and singular the Property, subject to the
Permitted Encumbrances, to Grantee, its successors and assigns against every person lawfully
claiming or to claim all or any part of the Property, by, through, or under Grantor, but not
otherwise.
[SIGNATURE PAGE FOLLOWS]
Special Warranty Deed Page 2
IN WITNESS WHEREOF, Grantor has executed this Private Transfer Agreement
(Grant by Special Warranty Deed)to be effective as of 1— , n / .
GRANTOR:
THE COLONY LOCAL DEVELOPMENT
CORPORATION,
A Texas non-profit corporation
J McCourry, President
ATTEST:
1ZJi I
Ri'- and Boyer, Se - ry
APPROVED AS TO FORM:
4101'' --—
.—
Jeff .ora, City Attorney
THE STATE OF TEXAS §
COUNTY OF DENTON §
This instrument was acknowledged before me on thisodl ay of A tl ,, 2015,
by Joe McCourry, President of The Colony Local Development Corporatiof, a Texas S -profit
corporation, and acknowledged to me that he executed the same for the purposes and
consideration therein expressed on behalf of said corporation.
Cd�fNotary(/7/ .
lic i nd for the State of Texas
AFTER RECORDING RETURN TO:
LMG Ventures, LLC �� \ AMY PWN,,Nti
Comm
c/o Ryan Blumkin—02160 ^�� My Januarissiony 820Expires i
, 17
700 S. 72 Street
Omaha,NE 68114
Special Warranty Deed Page 3
Exhibit"A"
Legal Description of the Property
Special Warranty Deed Page 4
Legal Description
Being a 16.815 acre tract of land situated in the Buffalo Bayou, Brazos & Colorado Railroad Company
Survey, Abstract No. 174, City of The Colony, Denton County, Texas and being a portion of a called
377.68 acre tract of land described in a deed to The Colony Local Development Corporation as recorded
in County Clerk's Instrument No. 2014-30677 of the Official Public Records of Denton County,Texas and
being more particularly described as follows:
BEGINNING at a point in the south right-of-way line of State Highway No. 121 (Sam Rayburn Tollway)
and being in the north line of said 377.68 acre tract of land, from which a brass right-of-way monument
found bears South 63 degrees 39 minutes 23 seconds West, a distance of 33.28 feet;
THENCE South 16 degrees 12 minutes 21 seconds East, departing the south line of said State Highway
No. 121 and the north line of said 377.68 acre tract of land, a distance of 104.12 feet;
THENCE South 73 degrees 47 minutes 39 seconds West, a distance of 160.71 feet;
THENCE South 16 degrees 12 minutes 21 seconds East, a distance of 12.42 feet;
THENCE South 74 degrees 21 minutes 12 seconds West, a distance of 15.50 feet;
THENCE South 15 degrees 38 minutes 48 seconds East, a distance of 124.25 feet;
THENCE South 74 degrees 21 minutes 12 seconds West, a distance of 16.00 feet;
THENCE South 15 degrees 38 minutes 48 seconds East, a distance of 16.00 feet;
THENCE South 74 degrees 21 minutes 12 seconds West, a distance of 6.00 feet;
THENCE South 15 degrees 38 minutes 48 seconds East, a distance of 41.67 feet;
THENCE North 74 degrees 21 minutes 12 seconds East, a distance of 6.00 feet;
THENCE South 15 degrees 38 minutes 48 seconds East, a distance of 16.00 feet;
THENCE North 74 degrees 21 minutes 12 seconds East, a distance of 16.00 feet;
THENCE South 15 degrees 38 minutes 48 seconds East, a distance of 63.17 feet to a non-tangent curve
to the left having a radius of 1402.67 feet, a central angle of 04 degrees 44 minutes 15 seconds, a chord
bearing of South 82 degrees 52 minutes 02 seconds West and a chord length of 115.95 feet;
THENCE with said non-tangent curve to the left for an arc length of 115.98 feet;
THENCE North 10 degrees 37 minutes 55 seconds West, a distance of 12.05 feet;
THENCE South 79 degrees 22 minutes 05 seconds West, a distance of 55.33 feet;
THENCE South 10 degrees 37 minutes 55 seconds East, a distance of 12.05 feet to the beginning of a
non-tangent curve to the left having a radius of 1402.67 feet, a central angle of 04 degrees 38 minutes
Special Warranty Deed Page 5
59 seconds, a chord bearing of South 75 degrees 54 minutes 47 seconds West and a chord length of
113.80 feet;
THENCE with said non-tangent curve to the left for an arc length of 113.83 feet;
THENCE North 17 degrees 21 minutes 31 seconds West, a distance of 93.27 feet to the beginning of non-
tangent curve to the left having a radius of 26.67 feet, a central angle of 246 degrees 12 minutes 08
seconds, a chord bearing of North 56 degrees 11 minutes 56 seconds West and a chord length of 44.68
feet;
THENCE with said non-tangent curve to the left for an arc length of 114.59 feet to the beginning of a
non-tangent curve to the left having a radius of 171.67 feet, a central angle of 34 degrees 53 minutes 30
seconds, a chord bearing of South 69 degrees 12 minutes 44 seconds West and a chord length of 102.93
feet;
THENCE with said non-tangent curve to the left for an arc length of 104.54 feet to the beginning of a
reverse curve to the right having a radius of 168.33 feet, a central angle of 07 degrees 30 minutes 39
seconds, a chord bearing of South 55 degrees 31 minutes 19 seconds West and a chord length of 22.05
feet;
THENCE with said reverse curve to the right for an arc length of 22.07 feet;
THENCE North 23 degrees 05 minutes 01 seconds West, a distance of 9.08 feet;
THENCE South 66 degrees 53 minutes 14 seconds West, a distance of 51.33 feet;
THENCE South 23 degrees 05 minutes 01 seconds East, a distance of 10.80 feet to the beginning of a
non-tangent curve to the left having a radius of 1530.83 feet, a central angle of 03 degrees 22 minutes
01 seconds, a chord bearing of South 64 degrees 10 minutes 50 seconds West and a chord length of
89.95 feet;
THENCE with said non-tangent curve to the left for an arc length of 89.96 feet;
THENCE South 61 degrees 52 minutes 59 seconds West, a distance of 31.32 feet;
THENCE North 28 degrees 46 minutes 33 seconds West, a distance of 10.51 feet to the beginning of a
non-tangent curve to the left having a radius of 1532.30 feet, a central angle of 08 degrees 01 minutes
31 seconds, a chord bearing of South 57 degrees 16 minutes 51 seconds West and a chord length of
214.45 feet;
THENCE with said non-tangent curve to the left for an arc length of 214.63 feet;
THENCE South 37 degrees 54 minutes 01 seconds East, a distance of 9.37 feet;
THENCE South 50 degrees 52 minutes 44 seconds West, a distance of 87.89 feet to the beginning of
curve to the right having a radius of 218.40 feet, a central angle of 02 degrees 39 minutes 14 seconds, a
chord bearing of South 51 degrees 17 minutes 36 seconds West and a chord length of 10.11 feet;
Special Warranty Deed Page 6
THENCE with said curve to the right for an arc length of 10.12 feet to the beginning of a reverse curve to
the left having a radius of 218.33 feet, a central angle of 09 degrees 26 minutes 24 seconds, a chord
bearing of South 57 degrees 20 minutes 27 seconds West and a chord length of 35.93 feet;
THENCE with said reverse curve to the left for an arc length of 35.97 feet to the beginning of a
compound curve to the left having a radius of 221.67 feet, a central angle of 08 degrees 39 minutes 50
seconds, a chord bearing of south 57 degrees 43 minutes 44 seconds West and a chord length of 33.49
feet;
THENCE with said compound curve to the left for an arc length of 33.52 feet;
THENCE North 44 degrees 02 minutes 01 seconds West, a distance of 4.94 feet;
THENCE South 45 degrees 54 minutes 55 seconds West, a distance of 51.33 feet;
THENCE South 44 degrees 03 minutes 21 seconds East, a distance of 3.25 feet to the beginning of curve
to the left having a radius of 224.66 feet, a central angle of 10 degrees 45 minutes 35 seconds, a chord
bearing of South 35 degrees 12 minutes 28 seconds West and a chord length of 42.13 feet;
THENCE with said curve to the left for an arc length of 42.19 feet to the beginning of a reverse curve to
the right having a radius of 215.33 feet, a central angle of 11 degrees 54 minutes 48 seconds, a chord
bearing of South 35 degrees 47 minutes 05 seconds West and a chord length of 44.69 feet;
THENCE with said reverse curve to the right for an arc length of 44.77 feet;
THENCE North 57 degrees 48 minutes 21 seconds West, a distance of 53.36 feet to the beginning of a
non-tangent curve to the left having a radius of 26.66 feet, a central angle of 230 degrees 34 minutes 40
seconds, a chord bearing of South 76 degrees 59 minutes 37 seconds and a chord length of 48.22 feet;
THENCE with said non-tangent curve to the left for an arc length of 107.31 feet;
THENCE South 32 degrees 13 minutes 10 seconds West, a distance of 158.23 feet to the beginning of a
non-tangent curve to the left having a radius of 16.50 feet, a central angle of 236 degrees 34 minutes 25
seconds, a chord bearing of South 00 degrees 59 minutes 47 seconds West and a chord length of 29.06
feet;
THENCE with said non-tangent curve to the left for an arc length of 68.13 feet to the beginning of a non-
tangent curve to the right having a radius of 44.55 feet, a central angle of 99 degrees 12 minutes 16
seconds, a chord bearing of South 26 degrees 15 minutes 00 seconds West and a chord length of 67.85
feet;
THENCE with said non-tangent curve to the right for an arc length of 77.13 feet to the beginning of a
non-tangent curve to the left having a radius of 16.50 feet, a central angle of 248 degrees 51 minutes 52
seconds, a chord bearing of South 44 degrees 20 minutes 08 seconds West and a chord length of 27.22
feet;
Special Warranty Deed Page 7
THENCE with said non-tangent curve to the left for an arc length of 71.67 feet;
THENCE South 04 degrees 41 minutes 15 seconds West, a distance of 111.69 feet to the beginning of a
non-tangent curve to the left having a radius of 49.47 feet, a central angle of 39 degrees 45 minutes 46
seconds, a chord bearing of South 54 degrees 16 minutes 37 seconds West and a chord length of 33.65
feet;
THENCE with said non-tangent curve to the left for an arc length of 34.33 feet to the beginning of a non-
tangent curve to the left having a radius of 35.48 feet, a central angle of 62 degrees 01 minutes 21
seconds, a chord bearing of South 47 degrees 55 minutes 01 seconds West and a chord length of 36.56
feet;
THENCE with said non-tangent curve to the left for an arc length of 38.40 feet to the beginning of a
reverse curve to the right having a radius of 48.56 feet, a central angle of 98 degrees 35 minutes 35
seconds, a chord bearing of South 72 degrees 32 minutes 37 seconds West and a chord length of 73.63
feet;
THENCE with said reverse curve to the right for an arc length of 83.56 feet to the beginning of a reverse
curve to the left having a radius of 128.29 feet, a central angle of 69 degrees 47 minutes 54 seconds, a
chord bearing of South 81 degrees 17 minutes 07 seconds West and a chord length of 146.80 feet;
THENCE with said reverse curve to the left for an arc length of 156.28 feet to the beginning of a
compound curve to the left having a radius of 1008.00 feet, a central angle of 05 degrees 25 minutes 17
seconds, a chord bearing of South 45 degrees 02 minutes 23 seconds West and a chord length of 95.34
feet;
THENCE with said compound curve to the left for an arc length of 95.38 feet to the beginning of a
reverse curve to the right having a radius of 82.27 feet, a central angle of 71 degrees 13 minutes 56
seconds, a chord bearing of South 79 degrees 08 minutes 26 seconds West and a chord length of 95.82
feet;
THENCE with said reverse curve to the right for an arc length of 102.28 feet;
THENCE North 25 degrees 46 minutes 41 seconds West, a distance of 116.73 feet to the beginning of a
curve to the right having a radius of 112.47 feet, a central angle of 89 degrees 31 minutes 40 seconds, a
chord bearing of North 18 degrees 47 minutes 39 seconds East and a chord length of 158.40 feet;
THENCE with said curve to the right for an arc length of 175.74 feet to the beginning of a compound
curve to the right having a radius of 352.00 feet, a central angle of 17 degrees 27 minutes 55 seconds, a
chord bearing of North 72 degrees 31 minutes 14 seconds East and a chord length of 106.88 feet;
THENCE with said compound curve to the right for an arc length of 107.30 feet to a reverse curve to the
left having a radius of 368.00 feet, a central angle of 14 degrees 09 minutes 31 seconds, a chord bearing
of North 74 degrees 10 minutes 26 seconds East and a chord length of 90.71 feet;
Special Warranty Deed Page 8
THENCE with said reverse curve to the left for an arc length of 90.94 feet to the beginning of a
compound curve to the left having a radius of 128.00 feet, a central angle of 28 degrees 52 minutes 00
seconds, a chord bearing of North 52 degrees 39 minutes 41 seconds East and a chord length of 63.81
feet;
THENCE with said compound curve to the left for an arc length of 64.49 feet;
THENCE North 38 degrees 13 minutes 41 seconds East, a distance of 135.37 feet to the beginning of a
curve to the right having a radius of 72.22 feet, a central angle of 79 degrees 30 minutes 25 seconds, a
chord bearing of North 75 degrees 12 minutes 26 seconds East and a chord length of 92.37 feet;
THENCE with said curve to the right for an arc length of 100.22 feet to the beginning of a reverse curve
to the left having a radius of 53.00 feet, a central angle of 108 degrees 49 minutes 48 seconds, a chord
bearing of North 60 degrees 36 minutes 34 seconds East and a chord length of 86.20 feet;
THENCE with said reverse curve to the left for an arc length of 100.67 feet to the beginning of a reverse
curve to the right having a radius of 73.30 feet, a central angle of 64 degrees 19 minutes 47 seconds, a
chord bearing of North 29 degrees 43 minutes 06 second East and a chord length of 78.04 feet;
THENCE with said reverse curve to the right for an arc length of 82.29 feet to the beginning of a non-
tangent curve to the right having a radius of 394.86 feet, a central angle of 14 degrees 49 minutes 28
seconds, a chord bearing of North 63 degrees 47 minutes 56 seconds East and a chord length of 101.88
feet;
THENCE with said non-tangent curve to the right for an arc length of 102.16 feet to the beginning of
compound curve to the right having a radius of 2408.00 feet, a central angle of 02 degrees 43 minutes
56 seconds, a chord bearing of North 72 degrees 12 minutes 45 seconds East and a chord length of
114.82 feet;
THENCE with said compound curve to the right for an arc length of 114.83 feet to the beginning of a
reverse curve to the left having a radius of 248.00 feet, a central angle of 21 degrees 07 minutes 00
seconds, a chord bearing of North 60 degrees 17 minutes 16 seconds East and a chord length of 90.89
feet;
THENCE with said reverse curve to the left for an arc length of 91.40 feet;
THENCE North 49 degrees 43 minutes 46 second East, a distance of 96.43 feet to the beginning of a
curve to the right having a radius of 592.31 feet, a central angle of 22 degrees 10 minutes 27 seconds, a
chord bearing of North 60 degrees 29 minutes 30 seconds East and a chord length of 227.80 feet;
THENCE with said curve to the right for an arc length of 229.23 feet to the beginning of a reverse curve
to the left having a radius of 1008.00 feet, a central angle of 10 degrees 13 minutes 36 seconds, a chord
bearing of North 66 degrees 28 minutes 08 seconds East and a chord length of 179.68 feet;
Special Warranty Deed Page 9
THENCE with said reverse curve to the left for an arc length of 179.92 feet to the beginning of a
compound curve to the left having a radius of 358.00 feet, a central angle of 22 degrees 23 minutes 34
seconds, a chord bearing of North 50 degrees 09 minutes 33 seconds East and a chord length of 139.03
feet;
THENCE with said compound curve to the left for an arc length of 139.92 feet to the beginning of a
reverse curve to the right having a radius of 77.25 feet, a central angle of 76 degrees 58 minutes 29
seconds, a chord bearing of North 74 degrees 15 minutes 40 seconds East and a chord length of 96.15
feet;
THENCE with said reverse curve to the right for an arc length of 103.78 feet to the beginning of a reverse
curve to the left having a radius of 75.88 feet, a central angle of 75 degrees 29 minutes 52 seconds, a
chord bearing of North 74 degrees 16 minutes 20 seconds East and a chord length of 92.91 feet;
THENCE with said reverse curve to the left for an arc length of 99.99 feet to the beginning of a reverse
curve to the right having a radius of 47.85 feet, a central angle of 34 degrees 31 minutes 55 seconds, a
chord bearing of North 37 degrees 20 minutes 02 seconds East and a chord length of 28.41 feet;
THENCE with said reverse curve to the right for an arc length of 28.84 feet;
THENCE North 73 degrees 47 minutes 39 seconds East, a distance of 27.69 feet;
THENCE North 16 degrees 12 minutes 21 seconds West, a distance of 51.01 feet to the south right-of-
way line of said State Highway No. 121;
THENCE with the south right-of-way line of said State Highway No. 121 the following:
South 60 degrees 46 minutes 58 seconds West, a distance of 88.76 feet;
South 65 degrees 23 minutes 15 seconds West, a distance of 149.85 feet;
South 60 degrees 47 minutes 38 seconds West, a distance of 676.32 feet to the beginning of a
curve to the left having a radius of 2849.79, a central angle of 02 degrees 15 minutes 01
seconds, a chord bearing of South 58 degrees 55 minutes 04 seconds West and a chord length of
111.92 feet;
with said curve to the left for an arc length of 111.93 feet;
South 57 degrees 47 minutes 33 seconds West, a distance of 235.35 feet to the beginning of a
curve to the right having a radius of 2879.79 feet, a central angle of 03 degrees 00 minutes 00
seconds, a chord bearing of South 59 degrees 17 minutes 33 seconds West and a chord length of
150.77 feet;
with said curve to the right for an arc length of 150.79 feet;
Special Warranty Deed Page 10
South 60 degrees 47 minutes 33 seconds West, a distance of 597.99 feet to the intersection of
the south right-of-way line of said State Highway No. 121 and the east right-of-way line of
Proposed Nebraska Furniture Mart Drive;
THENCE with the east right-of-way line of Proposed Nebraska Furniture Mart Drive the following:
South 20 degrees 37 minutes 01 seconds West, a distance of 118.46 feet;
South 60 degrees 47 minutes 33 seconds West, a distance of 9.63 feet;
South 27 degrees 29 minutes 52 seconds East, a distance of 167.66 feet to the beginning of a
curve to the right having a radius of 255.50 feet, a central angle of 07 degrees 24 minutes 46
seconds, a chord bearing of South 23 degrees 47 minutes 29 seconds East and a chord length of
33.03 feet;
with said curve to the right for an arc length of 33.06 feet to the beginning of a reverse curve to
the left having a radius of 190.50 feet, a central angle of 36 degrees 22 minutes 22 seconds, a
chord bearing of South 38 degrees 16 minutes 17 seconds East and a chord length of 118.91
feet;
with said reverse curve to the left for an arc length of 120.93;
North 32 degrees 17 minutes 20 seconds East, a distance of 8.50 feet to the beginning of a non-
tangent curve to the left having a radius of 441.50 feet, a central angle of 12 degrees 17 minutes
07 seconds, a chord bearing of South 62 degrees 33 minutes 21 seconds East and a chord length
of 94.48 feet;
with said non-tangent curve to the left for an arc length of 94.67 feet to a point in the north
right-of-way line of Proposed Grandscape Boulevard;
THENCE with the north right-of-way line of Proposed Grandscape Boulevard the following:
North 16 degrees 45 minutes 17 seconds East, a distance of 8.50 feet to the beginning of a curve
to the right having a radius of 317.00 feet, a central angle of 100 degrees 57 minutes 27
seconds, a chord bearing of North 67 degrees 14 minutes 00 seconds East and a chord length of
489.06 feet;
with said curve to the right for an arc length of 558.57 feet to the beginning of a reverse curve
to the left having a radius of 97.00 feet, a central angle of 35 degrees 22 minutes 57 seconds, a
chord bearing of South 79 degrees 58 minutes 45 seconds East and a chord length of 58.95 feet;
with said reverse curve to the left for an arc length of 59.90 feet;
North 07 degrees 40 minutes 13 seconds West, a distance of 21.00 feet to the beginning of a
non-tangent curve to the left having a radius of 76.00 feet, a central angle of 54 degrees 44
Special Warranty Deed Page 11
minutes 58 seconds, a chord bearing of North 54 degrees 57 minutes 18 seconds East and a
chord length of 69.89 feet;
with said non-tangent curve to the left for an arc length of 72.62 feet;
North 27 degrees 34 minutes 49 seconds East, a distance of 47.21 feet to the beginning of curve
to the right having a radius of 1315.00 feet, a central angle of 03 degrees 30 minutes 46
seconds, a chord bearing of North 29 degrees 20 minutes 12 seconds East and a chord length of
80.61 feet;
with said curve to the right for an arc length of 80.62 feet;
South 58 degrees 54 minutes 25 seconds East, a distance of 21.00 feet to the beginning of a
non-tangent curve to the right having a radius of 1294.00 feet, a central angle of 52 degrees 32
minutes 54 seconds, a chord bearing of North 57 degrees 22 minutes 02 seconds East and a
chord length of 1145.62 feet;
with said non-tangent curve to the right for an arc length of 1186.78 feet;
North 83 degrees 38 minutes 28 seconds East, a distance of 105.94 feet to the beginning of a
curve to the left having a radius of 956.00 feet, a central angle of 09 degrees 50 minutes 51
seconds, a chord bearing of North 78 degrees 43 minutes 03 seconds East and a chord length of
164.00 feet;
with said curve to the left for an arc length of 164.31 feet;
North 73 degrees 47 minutes 38 seconds East, a distance of 131.91 feet;
North 28 degrees 47 minutes 38 seconds East, a distance of 66.47 feet to the intersection of the
north right-of-way line of said Proposed Grandscape Boulevard and the west right-of-way line of
Proposed Destination Drive;
THENCE with the west right-of-way line of said Proposed Destination Drive the following:
North 16 degrees 12 minutes 23 seconds West, a distance of 287.76 feet to the beginning of a
curve to the left having a radius of 715.00 feet, a central angle of 09 degrees 09 minutes 39
seconds, a chord bearing of North 20 degrees 47 minutes 11 seconds West and a chord length of
114.20 feet;
With said curve to the left for an arc length of 114.32 feet;
North 76 degrees 50 minutes 11 seconds West, a distance of 41.40 feet to a point in the south
right-of-way line of said State Highway No. 121;
THENCE with the south right-of-way line of said State Highway No. 121 the following:
South 64 degrees 47 minutes 53 seconds West, a distance of 89.99 feet;
Special Warranty Deed Page 12
South 63 degrees 39 minutes 23 seconds West, a distance of 67.34 feet to the POINT OF
BEGINNING, containing 16.815 acres or 732,466 square feet of land, more or less.
Special Warranty Deed Page 13
CASA ACRES 7.7 Cfrf OF liE
MOW,C.C.0,67.NO
2,TS-65573,O.P.R.C.C.T.i STATE HIGHWAY NO. 121 - SAM RAYBURN TOLLWAY
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CALLED 377,6815:::51:CREST
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A FELFLRCH OF A
CALLED 377,ES ACRE TRACT TRACT OF LAND LOC.ATED IN THE
..... ,....., . BUFFALO BAYOU, BRAZOS&COLORADO 't
THE COLONS LOCAL LLEVELOEMENT CORPORATION,
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U.!NETS.N3.2C14-30517 AILRCND Co,SURVEY,ABSTRACT NO, 173. 6.)
— OP,R.D.C.T. CITY OF THE COLONY 6>
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STATE HIGHWAY NO. 121 - SAM RAYBURN TOLLWAY LI .5.32A' 1.1ff 35 L31 2-1 213 I 3.51- 'dor ...c 11 SA' 12A22:1 WE ,..4.6v
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Point of Beginn rg Plir:t.o::::gInnin„g...,.,,,,
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353 AG 11. 2•5554 1.2 1554' 3121'11:'",)E .).4 -:, 'r •,5c,!.., .,0' 211.33 51.5.'535 WE 21553'
5255' LI 13425' AIA'se'180 C-5 A'33'C '21Z.5:' 5255 IC IL 512,'2 SCE I:11'
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L. 5,2' tqc'2'::'51 12-0 5LIC 24'523' 3E4E' Ly.44 531.3.• 1122-535 3rE
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F.) CC,NATO.NO.2014-30677 .4,4
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P., 6.553 ACRES
P... '..,/,32.4'66 WARE FEET) 1.1 5515' 212:''52'Olt 1.-151 .32 A'':I' 3.5.1•3' 1133 23122 S,55'C111 31.55'
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2 ;Mr...7, .01,1 FEET. --: A?COON OF A
CALLED 377.58 ACRE TRACT / /
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CAUSE 377.6a ACRE TRACT -,,, _ BOARDWALK 0011Bff
THE COLONY LOCAL DEVELQPVENT CORPORA110N, /' BEING A 8.553 ACRE (285,434 SO. FT.)
,
C.C.INSTR,NO.20),-30677 / '',..
aP.R.F).C.T . . TRACT OF LAND LOCATED IN THE
h /7" / BUFFALO BAYOU, BRAZOS&COLORADO
RAILROAD Co. SURVEY,ABSTRACT NO. 173, ^ci
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-. CITY OF THE COLONY a..)
4/c.., lik,v(„;,.." li'l''A/0"; (...,.? FIr`CALE In FEET -7/""-/-'r'' DENTON COUNTY,TEXAS. (2)
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Exhibit "B"
Exhibit B — To include those exceptions listed on Schedule B of the Owner's Title Commitment
plus the following exceptions:
Those rights recorded against the Property to secure performance of the public entities under
certain economic incentive agreements, including rights under any (a) covenants, conditions and
restrictions; (b) easements; (c) transfer documents that include a determinable interest, reversion
or other similar right; or(d) a deed of trust to secure performance.
In order to ensure that there are adequate public controls in place to ensure that the grant
performance standards set out in the Project and Finance Plan are satisfied, the public purpose is
accomplished and to protect the public's investment, to the extent bond proceeds financed the
acquisition by the City of the Property or the improvements the City constructed on such
Property, the land and improvements are restricted to uses consistent with those identified in the
documents authorizing the issuance of such bonds (e.g., if bond proceeds constructed a
warehouse/distribution facility located on the Property, then the Property may only be used for
warehouse/distribution uses for so long as such bonds remain outstanding). Once such bonds are
paid, this restriction shall automatically terminate. Evidence of payment of such bonds may be
recorded by Grantee in the Denton County deed records.
Special Warranty Deed Page 16