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RE 12-08-98.4 A RESOLUTION OF THE CITY OF COPPELL, TEXAS RESOLUTION NO. 120898.4 A RESOLUTION OF THE CITY OF COPPELL; TEXAS, APPROVING THE TERMS AND CONDITIONS OF A TAX ABATEMENT AGREEMENT BY AND BETWEEN THE CITY OF COPPELL, TEXAS AND NWI WAREHOUSE GROUP, L.P.; AUTHORIZING ITS EXECUTION BY THE MAYOR; AND PROVIDING AN EFFECTIVE DATE. W'FIE~S, the City Council has been presented a proposed Tax Abatement Agreement by and among the City of Coppell, Texas and NWI Warehouse Group, L.P., a copy of which is attached hereto and incorporated herein by reference; and WHEREAS, upon full review and consideration of the Agreement, and all matters related thereto, the City Council is of the opinion and finds that the terms and conditions thereof should be approved, and that the Mayor should be authorized to execute the Agreement on behalf of the City of Coppell, Texas; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE C1TY OF COPPELL, TEXAS, that: 1. The Agreement attached hereto having been reviewed by the City Council of the City of Coppell, Texas, and found to be acceptable and in the best interest of the City and its citizens, be, and the same is hereby, in all things approved, and the Mayor is hereby authorized to execute the Agreement on behalf of the City of Coppell, Texas. 2. The City Council finds that the improvements proposed to be built upon the Premises described in the Agreement will enhance the economic vitafity of the community through a comb'marion of new capital invesunent, increased sales tax revenues, and the ereation of additional job opportunities. 3. The tax abatement to be granted by the Agreement will not include inventories, and supplies. 4. The improvements proposed for the Premises will accomplish the tax abatement guidelines of the City of Coppell, Texas. 5. The City Manager delivered to the presiding officer of the governing body of each taxing unit in which the propervy subject to the Agreement is located, a written notice that the City of Coppell, Texas, intends to enter into the Agreement. The notice given by the City Manager included a copy of the Agreement approved by this Resolution. SS22204 6. This Resolution and the Tax Abatement Agreement are hereby approved by the affirmative vote of the majority of the members of the City Council of the City of Coppell, Texas, at a regularly scheduled meeting of the City Council. 7. This Resolution shall become effective immediately fi.om and after its passage. DULY RESOLVED ANI) ADOPTED by the City Council of the City of Coppell, Texas, on thisthe ~t/a dayof f_~ee¢~,lbe~- , 1998. KATHLEEN ROACH, C1TY SECRETARY APPROVED AS TO FORM: PETER G. SMI'IIt, CITY ATTORNEY (PGS/ttl 12-2-98) 2 SS22204 ., - ~-.', COUNTY CLE!tl ~ · PORTIONS OF THIS DOCUMENT NOT / ,REPRODUCIBLE wHEN RECORDED STA~ OF ~S ~ T~ ~A~~ AG~E~ CO~ OF D~S 0~/03/99 ~s T~ ~atement ~mem (the "AG~E~g') is ~er~ ~to by ~d be~ Ci~ of Cop~ Te~ (the "~'), a home role ~ ~d mu~p~ ~on~on of D~ Count, T~, d~y ~g h~ by ~d t~ou~ its Mayor, ~d ~ W~ehou~ ~oup, L.P. C'~'), ~g by ~d ~ou~ its autho~ o~c~. WITNESSETH: ~~S, ~e Ci~ Coun~ of the Ci~ of Coppe~ Te~, (the "C~'), p~ Or~ (the "O~~") ~Hs~g T~ ~em~t ge~v~ment Zone No. 11 (the "~"), for ~~mdu~ ~ ~at~t, ~ ~tho~ by the Prope~ Red~elopment ~d T~ ~at~t Aa, C~pt~ 312 of the Tex~ T~ Code, ~ ~end~ (the '~ CODE"); ~d ~~S, the ~ ~ adopt~ ~ide~es for ~ ~atement (the "T~ ~A~~ G~E~S"); ~d W~~S, ~e T~ ~A~~ G~EI~S ~n~ approp~ate ~ide~es ~d ~te~a gov~g ~ ~atem~t ~m~ts to be enter~ ~to by the T~ CODE; ~d W~~S, ~e ~ ~ adopted a resolution stating that it el~s to be e~ble to p~pate ~ ~ ~em~t; ~d ~~S, ~ order to m~t~ ~d e~ the co~er~ ~d ~dus~ ~no~c ~d ~plo~t b~ of ~e Coppert ~ it is ~ ~e best ~t~e~ of ~e ~ay~ for ~e ~ to ~t~ ~to ~s AG~E~ ~ ~rd~ ~th ~d O~~, the T~ ~A~~ G~EL~S ~d ~e T~ CODE; ~d ~~S, on J~y 23, 1996 ~e Ci~ Coun~ of ~e Ci~ of Coppe~ Te~ by Kesolu~on No. 0723 9~3 approv~ a T~ ~atement ~ent by ~d b~ the Ci~ of Coppert, Tex~ ~d ~PC ~o~ Prop~ies ~ ~c.; ~d ~~S, on ~y 13, 1997, the City Coun~ of the Ci~ of CoppeH, Te~ by Re~lution No. 051397~ approv~ ~ ~dment to the ~oremention~ T~ ~at~t A~~t dat~ July 23, 1996; ~d W~~S, the Ci~ Council h~ approv~ a ~nd ~dment to ~e ~oremen~on~ T~ ~atem~ ~ment ~t~ July 23, 1996; ~d Tax Abatement Agreement - Page 1 8s17381 99022 ij5199 Wlff~REAS, the CITY consented to an assignment of the aforementioned Tax Abatement Agreement dated July 23, 1996 to NWI; and WltEREAS, Paragraph 11 of the aforementioned Tax Abatement Agreement required a separate Tax Abatement Agreement for the improvements contemplated by Phase II as set forth therein; and WHEREAS, CITY and NWI desire to enter into Tax Abatement Agreement for the improvements contemplated by Phase 1I as set forth in the July 23, 1996 Tax Abatement Agreement; and WBF~RFAS, NWI's development efforts described herein will create permanent new jobs in the CITY; and WltEREAS, the City Council finds that the contemplated use of the PREMISES (hereinafier defined), the contemplated improvements to the PREMISES thereto in the amount set forth in this AGREEMENT, and the other terms hereof are consistent with encouraging development of the ZONE in accor~ce with the purposes for its creation and/or in compliance with the TAX ABATEMENT GUIDELINES, the ORDINANCE adopted by the CITY, the TAX CODE and all other applicable laws; and WIW~REAS, the City Council finds that the improvements sought are feasible and practicable and would be of benefit to the PREMISES (hereinafter defined) to be included in the ZONE and to the CITY after expiration of this AGREEMENT; and WltEREAS, a copy of this AGREEMENT has been furnished, in the manner prescribed by the TAX CODE, to the presiding officers of the governing bodies of each of the taxing units in which the PREMISES is located; and WItEREAS, the CTrY desires to enter into an agreement with NWI, the proposed owner of the PREMISES within the Tax Abatement Reinvestment Zone No. 11 for the abatement of taxes pursuant to Chapter 3 12 of the TAX CODE, as amended; NOW, TItEREFORE, in consideration of the mutual benefits and promises contained herein and for good and other valuable consideration, the adequacy and receipt of which is hereby acknowledged, including the expansion of primary employment, the attraction of major investment in the ZONE, which contn~utes to the economic development of Coppell and the enhancement of the tax base in the CITY, the parties agree as follows: Tax Abatement Agreement - Page 2 ss173sl 99022 Ct5200 GENERAL PROVISIONS 1. NWI is the owner of the real property described in Exhibit "A" attached hereto and made a part hereof for all purposes (the "PREMISES" hereinafter defined), which real property is located within the city limits of the CITY and within the ZONE. 2. The PREMISES are not in an improvement project financed by tax increment bonds. 3. This AGREEMENT is entered into subject to the fights of the holders of outstanding bonds of the CITY. 4. The PREMISES are not owned or leased by any member of the Coppell City Council or any member of the Coppell Planning and Zoning Commission, or any member of the governing body of any taxing units joining in or adopting this AGREEMENT. TAX ABATEMENT AUTHORIZED 5. This AGREEMENT is authorized by the TAX CODE and in accordance with the City Tax Abatement Guidelines and Criteria, and approved by resolution of the City Council of the CITY authorizing the execution of this AGREEMENT. 6. Subject to the terms and conditions of this AGREEMENT, and provided that the combined TAXABI,E VALUE for the PREMISES and TANGIBLE PERSONAL PROPERTY is at least Five Million Dollars ($5,000,000) as of January 1 of the FIRST YEAR OF ABATEMENT and as of January 1 of each year thereafter for a period of four (4) years, the CITY hereby grants NWI an abatement of seventy-five percent (75%) of the TAXABLE VALUE of the PREMISES and the TANGIBLE PERSONAL PROPERTY located on the PREMISES for a period of five (5) years. The actual percentage of taxes subject to abatement for each year of this AGREEMENT will apply only to the portion of the taxable value of the PREMISES that exceeds the BASE YEAR TAXABI,E VALUE for the PREMISES, the year in which this AGREEMENT is executed (base year/1998). The tax abatement agreement for tangible personal property will only apply to the TANGIBI,E PERSONAL PROPERTY added to the PREMISES alter this AGREEMENT is executed. 7. The period of tax abatement herein authorized shall be for a period of five (5) years. 8. During the period of tax abatement herein authorized, NWI shall be subject to all CITY taxation not abated, including but not limited to, sales tax and ad valorem taxation on land, inventory and supplies. Tax Abatemere Agreement - Page 3 ss~Tsat 99022 05201 DEFINITIONS 9. Wherever used in this AGREEMENT, the following terms shall have the meanings ascnt~! to them: P~ The PREMISES shall mean the real property described in Exhibit "A" attached hereto and incorporated herein for all purposes including any IMPROVEMENTS and personal property, excluding inventory, which is added thereto subsequent to the execution of this AGREEMENT; B. The IMPROVEMENTS shall mean the contemplated improvements to be constructed on the PREMISES and as further described herein. C. TAXABI,E VALUE means the appraised value as certified by the Appraisal District as of January 1 of a given year. D. The BASE YEAR TAXABLE VALUE shall mean the total assessed taxable value for the PREMISES for the year in which the Tax Abatement Agreement is executed (1998). E. The FIRST YEAR OF THE TAX ABATEMENT AGREEMENT shall mean January 1 of the calendar year immediately following the issuance of a certificate of occupancy for the IMPROVEMENTS. F. TANGIBLE PERSONAL PROPERTY shall mean tangible personal property, equipment and fnctures other than inventory or supplies added to the PREMISES subsequent to the execution of this AGREEMENT. G. An EVENT OF BANKRUPTCY OR INSOLVENCY shall mean the dissolution or termination of NWI existence as a going business, insolvency, appointment of receiver for any part of NWI property and such appointment is not terminated within thirty (30) days at'cer such appointment is initially made, any general assignment for the benefit of creditors, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against NWI and such proceeding is not dismissed within thirty (30) days after the filing thereof. IMPROVEMENTS 10. NWI owns the real property described in Exhibit "A" and agrees to construct or cause to be constructed thereon warehouse/distribution facility of at least 125,000 square feet, known as Freeport IV (and other ancillary facilities such as reasonably required parking and landscaping more fully described in the submittals filed by NWI's with the CITY from time to time in order to obtain a building permit) (the "IMPROVEMENTS"). The cost of the IMPROVEMENTS shall be at least Tax Abatement Agreement - Page 4 ss17381 99022 05202 Five lVftllion Dollars ($5,000,000). The approximate location of such IMPROVEMENTS will be shown on a Site Plan of the PREMISES to be submitted to the CITY. Nothing in this AGREEMENT shall obligate NWI to construct IMPROVEMENTS and/or to locate TANGIBLE PERSONAL PROPERTY on the PREMISES, but said actions are a condition precedent to tax abatement pursuant to this AGREEMENT. CONSTRUCTION OF IMPROVEMENTS 11. As a condition precedent to the initiation of tax abatement pursuant to this AGREEMENT, NWI will diligently and faithfully, in good and workmanlike manner, pursue the completion of the contemplated IMPROVEMENTS on or before December 31, 1998, 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 thereo0; provided, that NWI shall have such additional time to complete and maintain the IMPROVEMENTS as may be required in the event of "Force Majeure," if NWI is dih'gen~y and faith~ffiy pursuing completion of the IMPROVEMENTS. For this purpose, "Force Majeure" shall mean any contingency or cause beyond the reasonable control of NWI 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 NWI), fires, explosions or floods, strikes, slowdowns or work stoppages. 12. NWI agrees to maintain the IMPROVEMENTS during the term of this AGREEMENT in accordance with all applicable state and local laws, codes, and regulations. 13. TIle 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 NWI, and in accordance with NWI visitor access and security policies, 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). GENERAL REQUIREMENTS 14. Construction plans for the IMPROVEMENTS constructed on the PREMISES will be filed with the CITY, which shall be deemed to be incorporated by reference herein and made a part hereof for all purposes. 15. After completion of the IMPROVEMENTS, NWI shall certify in writing to the CITY the construction cost of the IMPROVEMENTS. NWI shall also annually certify to the CITY that it is in compliance with each term of the AGREEMENT. 16. The PREMISES and the IMPROVEMENTS constructed thereon at all times shall be used in the manner (i) that is consistent with the City's Comprehensive Zoning Ordinance, as Tax Abatement Agreement - Page 5 ss~38x 99022 O5203 amended, and ('fi) that, during the period taxes are abated hereunder, is consistent with the general purposes of encouraging development or redevelopment within the ZONE. 17. NWI agrees to provide to the tenants of the PREMISES, the benefit of the abatement of real property taxes granted herein. NWI shall, upon written request, provide the CITY with satisfactory evidence that the benefits of this AGREEMENT have been provided to the tenants of the PREMISES. DEFAULT: RECAPTURE OF TAX REVENUE 18. In the event NWI fails in performance of any of the following conditions: (i) completion of the IMPROVEMENTS in accordance with this AGREEMENT or in accordance with applicable State or local laws, codes or regulations; (ii) have any delinquent ad valorem or State sales taxes owed to the CITY with respect to the PREMISES and/or TANGIBI,E PERSONAL PROPERTY (provided NWI retains its right to timely and properly protest such taxes or assessment); ('fii) upon the occurrence of any "Event of Bankruptcy or Insolvency"; or (iv) breaches any of the terms and conditions of this AGREEMENT, then NWI, after the expiration of the notice and cure periods described below, shall be in default of this AGREEMENT. As liquidated damages in the event of such default, NWI shall, within thirty (30) days a~er demand, pay to the CITY all taxes which otherwise would have been paid to the CITY without benefit of a tax abatement with interest at the statutory rate for delinquent taxes as determined by Section 33.01 of the TAX CODE as amended but without penalty. The paxties acknowledge that actual damages in the event of default termination would be speculative and difficult to determine. The parties further agree that any property tax revenue lost, including interest as a result of this AGREEMENT, shall be recoverable against NWI, its successors and assigns and shall constitute a tax lien on the PREMISES and the TANGIBLE PERSONAL PROPERTY and shall become due, owing and shall be paid to the CITY within thirty (30) days after termination. 19. Upon breach by NWI of any obligations under this AGREEMENT, the CITY shall notify NWI in writing. NWI shall have thirty (30) days ~om receipt of the notice in which to cure any such default. if'the default cannot reasonably be cured within a thirty (30) day period, and NWI has diligen~y pursued such remedies as shall be reasonably necessary to cure such default, then the CTFY may extend the period in which the violation must be cured. 20. IfNWI fails to cure the default within the time provided as spedfled above or, as such time period may be extended, then the CITY at its sole option shall have the right to terminate this AGREEMENT by written notice to NWI. 21. Upon termination of this AGREEMENT by CITY, all tax revenue abated as a result of this AGREEMENT shall become a debt to the CITY as liquidated damages, and shall become due and payable not later than thirty (30) days after a notice of termination is made. The CITY shall have all remedies for the collection of the recaptured tax revenues provided generally in the TAX CODE for the collection of delinquent property tax. The CITY at its sole discretion has the option to provide a Tax Abatement Agreement - Page 6 ss~Tss~ 99022 0520h repayment schedule. The computation of tax revenue abated for the purposes of the AGREEMENT shall be based upon the full TAXABI,F~ VALUE without tax abatement for the years in which tax abatement hereunder was received by NWI with respect to the PREMISES and TANGIBI,E PERSONAL PROPERTY as determined by the Appraisal District, multiplied by the tax rate of the years in question, as calculated by the City Tax Assessor-Collector. The liquidated damages shall incur penalties as provided for delinquent taxes and shall commence to accrue after expiration of the ~rty (30) day payment period. ANNUAL APPLICATION FOR TAX EXEMFHON; RENDITION 22. It shall be the responsibility of NWI, pursuant to the TAX CODE, to file an annual exemption application form with the Chief Appraiser for each Appraisal District in which the eligible taxable property has sims. A copy of the exemption application shall be submitted to the CITY. 23. NWI shall annually render the values of the PREMISES and the TANGIBLE PERSONAL PROPERTY to the Appraisal District and provide a copy of the same to the CITY. SUCCESSORS AND ASSIGNS 24. 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 assigns. This AGREEMENT may be assigned with the consent of the CITY. After any permitted assignment, all references to NWI herein shall thereafter be a reference to NWI's successor with respect to any obligations or liabilities occur~g or arising after the date of such assignment. NOTICE 25. AH notices required by this AGREEMENT shall be addressed to the following or other such other party or address as either party designates in writing by certified mail, postage prepaid or by hand delivery: If intended for NYVI, to: NWI Warehouse Group, Inc. Attn: General Partner 5495 Beltline Road Suite 360 Dallas, Texas 75240 Tax Abatement Agreement - Page 7 sst73s~ 99022 Li5205 If intended for CITY, to: City of Coppell, Texas City Manager P. O. Box 478 Coppe!l, Texas 75019 CITY COUNCIL AUTHORVZATION 26. This AGREEMENT was authorized by resolution of the City Council approved by its Council meeting authorizing the Mayor to execute this AGREEMENT on behalf of the CITY. TAXPAYER AUTHORIZATION 27. This AGREEMENT was authorized by the governing board or management of NWI authorizing the undersigned to execute this AGREEMENT on behalf of NWI. SEVERAB!IJTY 28. 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. APPLICABLE LAW 29. This AGREEMENT shall be construed under the laws of the State of Texas. Venue for any action under this AGREEMENT shall be the State District Court of Dallas County, Texas. This AGREEMENT is performable in Dallas County, Texas. COUNTERPARTS 30. 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. ENTIRE AGREEMENT 31. 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. Tax Abatement Agreement - Page 8 ss~7~st 99022 ij5206 32. The provisions of this AGREEMENT are hereby declared covenants running with the PREMISES and are fully binding on all successors, heirs, and assigns of NWI who acquire any righL rifle, or interest in or to the property, or any part thereof. Any person who acquires any right, title, or interest in or to the property, or any part hereof, thereby agrees and covenants to abide by and fully perform the provisions of this AGREEMENT with respect to the right, title or interest in such property. RECORDATION OF AGREEMENT 33. A certified copy of this AGREEMENT shall be recorded in the Deed Records of Dallas County, Texas. INCORPORATION OF RECITALS 34. The determinations recited and declared in the preambles to this AGREEMENT are hereby incorporated herein as part of this AGREEMENT. EXFII!ilTS 35. All exhibits to this AGREE~NT are incorporated herein by reference for all purposes wherever reference is made to the same. CONSTRUCTION 36. Both parties have participated in the negotiation and preparation of this AGREEMENT. This AGREEMENT shall not be constructed more or less strongly against either party. NWI acknowledges that it has obtained legal counsel to assist in the preparation of this AGREEMENT and that NWI has fully satisfied itseli; without warranty or representation not expressly contained herein, by CITY that the tax abatement contemplated hereby is available in all respects. EXECUTED in duplicate originals this the ~i/~ day of./~c, ce~f, erl998. Tax Abatement Agreement - Page 9 ssn~s~ 99022 C 5207 N0~13 '98 16:22 FR NICHOLS JCKSON DLLRD 214 965 0010 TO 9?268?000? P.14/2~ APPKOVED AS TO FORM: NWI WARI~r..IOUSE GROUP, L.P. a Tennessee limited p~p By: NWIX, LP., its sole general partner KttN W, ~, II~ By: PALB~/~"~ Tax Abatemant Agreement- Page'lO ssxv~sz 99022 u5208 CITY'S ACKNOWLF~DGMENT STATE OF TEXAS § COUNTY OF DALLAS § This insmunent was acknowledged before me on the ~//4 day of by Candy Sheehan, Mayor of the City of Coppell, Texas, a Texas munidpality, on behalf of said municipality. ,,,,' ~En ~. % % ~. -..~.%..- ,,~ Tax Abatement Agreement - Page 11 ss~Tss~ 99022 u5209 ~0~13 '98 16:22 FR NICHOLS JCKSON DLLRD 214 965 0010 TO 9?268?000? P.16/23 NWI'S ACKNOVtrf,H~GMENT STATE O1~/t'/~r~ ~SS · ~ § W, Nciley, Jr., General L.P., a Termessee limited pammr~p, on behalE of said parmenh¥. - .,.' ........ .-.~.,. No"tary Public, State ofT::::.:.' re,~ni~., 2~.: :,. My commi~on Expires: '.: _~ ,. ' : . Tax Abatement Agreement - l~age 12 ss~n.~ 99022 052 i0 NO~ 13 '98 16:22 FR NICHOLS 5CKSON DLLRD 214 965 0010 TO 9?268?000? P.17/23 Tax Abatement Agre*mem - Page 13 "' ss,'B.x 99022 0521 I LEGAL DESCRIPTION OF PROPERTY Tex~ ime..being .'~ p~r~.lod o~ 'Freeport North', 0 Prell~In~ry-Elnol PId+ reoor~e~'lh ' . -.:' ' V~. 84203, ~d~ .1835; DallaS Counf~ 'Plot' Records; same o ~f ~eer~.ln"v~,.94Z2Z~.Peqe'l!68, Dories Count~ Deed Recbrds, s'~l~ ~rec+-b6~n~"'m6~e" , · .... 2'-'. :'l~d~o~Wye~.f~ San* A~onlO S~vlqgS AsS~CTOtl0n, F.~, bY tnstrumen+ of 'req0~d ' ':" ~e~':;'911~4, B~: 4~l~, Dallas Cbunty Deed Records, soffie belnq ~n the .Nor+nwesterLy.. corner ,, -.~ .. - , ~* :. *.. .. :~ ....... . · . . .. . . . . . . . · · . · · ~ ' ~ . .: .. - . . .* . .' .. , . . ... ~,~ ,..' . - ,-;.. .. .- .. .. .. . . ,- ... :. ., f '. .,~" *' ,'of o 'cd~v&;' "" ~.-.' ' · : " · .... " · ·" · ' '.' .~. ..' . .... . . *. . . :' ., *: '.. ~ncy~ ':..* . . ~.. · · ' ' * ' , ' · ' ' ....'., ' " ,' · '-'· " .... :...'" '.. :'Z""';..L. :'Q" ,' ,. ..., , ';~:'.~ · ., ...... .. . .:, .. . ..* . · . . ' ..: .. :'. ~ '... ·,.. . ' · , ·. - , :~.;. ~'~ :.' . ;.. · r... '. . · . . .., · . ' . , .' .,. * * %. * .... .. ,: ~-- .... .. ": ,'. '. 'of- b.. ~ve~' · · ,. ' .... ... ' : : . "' 530',00. eel, o 'c~n~olcngle'o 32' 22' I1' and o chord beor[n~"~nd I d 8to~ · . .. % ~ , ...... .. . .. ..... . . .;..:,' · . "' ' ~he arc of o tongen+ 'cuF~e 'fie't,'.o .central onqle. of ]2' O0' DO' and o 'chOrd .:..Sodth 74* O1' 15' W~sf, 25.9,10 feet ~o a' I/2' Iro~' r'Od set for..o ~olnt Of. '. " .' '. ;' com~oh line'o+ Said 157,929 a~r~ t~a6+ .and sold ?7,8527.'acre.' f~act~ .- .' , ....,..'. =. ... . - '] - ., ·. . · .. '~ .- . .'. :., '~E c~n+lnUIng '~long s~ld common line;North O~ I~' 5]' West, 995,3i ~eet' to "r~e . · ~oln~ of ~egrnnlng. odd C~ntalninq 27,6527 ocre9,.I,~ 3,~6] squone' feet, more'or"l~ss, . .. ' '... . . . . . . . . 99022 [?':'~ f' . ! described real :,'r,,,e~f7 beccusl; Of color or race is invalid and STATE CE 'EE~AS COUf,~ OF DAL~ I he-rib'. ce~f~ ~15 ir:s~r~ment ¢~:~ ~ed or~ the date aad time C ,C"'