RE 11-10-98.5 A RESOLUTION OF THE CITY OF COPPELL, TEXAS
RESOLUTION NO. 111098.5
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 GTE REALTY CORPORATION;
AUTHORIZING ITS EXECUTION BY THE MAYOR; AND PROVIDING AN EFFECTIVE
DATE.
WHEREAS, the City Council has been presented a proposed Tax Abatement Agreement by
and among the City of Coppell, Texas and GTE Realty Corporation a copy of which is attached hereto
and incorporated herein by reference; and
WItEREAS, 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, TI~REFORE, BE IT RESOLVED BY ~ cTrY COUNCIL OF Tm*~ CITY
OF COPPEIJ, TEXAS, THAT:
SECTION 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.
SECTION 2. The City Council finds that the improvements proposed to be built upon the
Premises described in the Agreement will enhance the economic vitality of the community through a
combination of new capital investment, increased sales tax revenues, and the creation of additional job
opportunities.
SECTION 3. The tax abatement to be granted by the Agreement will not include inventory,
and supplies.
S$21715
SECTION 4. The improvements proposed for the Premises will accomplish the tax
abatement guidelines of the City of Coppell, Texas.
SECTION 5. The City Manager delivered to the presiding officer of the governing body of
each taxing unit in which the property 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.
SECTION 6. This Resolution and the Tax Abatement Agreement are hereby approved by the
affarmative 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 Counc'fl.
SECTION 7. This Resolution shall become effective immediately from and after its passage.
DULY RESOLVED AND ADOPTED by the City Council of the City of Coppell, Texas, on
this the/0-/~ day of ? L(; t&°,~1 & ~e r- , 1998.
ATTEST:
KATHLEEN ROACH, CITY SECRETARY
APPROVED AS TO FORM:
(PGS/ttl 11/4/98)
2 SS21715
18/30/98 1349975 S33, 00
STATE OF TEXAS § Deed
§ TAX ABATEMENT AGREEMENT
COUNTY OF DAIJ,AS §
This Tax Abatement A~'eement (the "AGREEMENT") is enterecl into by and between the
City of Coppell, Tex~s (the "CITY"), a home role city and municipal coq~rafion of Dallas Co~mty,
Texas, duly acting herein by and fi~'ou~ its Mayor, and GTE Realty Corporation CGTE'), acting by
and tl~ough its authorized
WITNESSETH:
WHEREAS, the City Council of the City of Coppell~ Texas, (the "CITY"), passed an
Ordinance (the "ORDINANCE") establishing Tax Abatement Reinvestment Zone No. 21 (the
"ZONE"), for commercial/'mdustrial tax abatement, as anthorized by the Property Redevelopment and
Tax Abatement Act, Chapter 312 of the Texas Tax Code, as amended (the "TAX CODE"); and
WHEREAS, the CITY has adopted ~ddelines for tax abatement (the "TAX ABATEMENT
GUIDEIJNES")~ and
WHEREAS, the TAX ABATEMENT GUIDELINES contain appropriate ~fidelines and
criteria governing tax abatement a~'eements to be entered into by the CITY as contemplated by the
TAX CODE; and
WHETS, the CITY has adopted a resolution stating that it elects to be eligible to
participate in tax abatement~ and
employment base of the Coppell area, it is in the best interests
into this AGREEMENT in accordance with s~icl ORDINANCE, the TAX ABATEMENT
GUIDELINES and the TAX CODE~ and
WltEREAS, GTE's development
the CITY; and
Vm/III~REAS, the City Council finds that the contemplated use of the PREiVI]SES (hereinafter
defined), the contemplated improvements to the PREMISES thereto in the amount set forth in this
AGREE1VIENT, and thc other terms hereof aze consistent with encouraging development of the
ZONE in accordance 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
Tax Abatement Agreemere - Page 1 ssi~828
98252 06810
WHEREAS, the City Council finds that the improvements sought are feasible and practicable
and would be of benefit to the PREMISES (hereina~er defined) to be included in the ZONE and to
the CITY after expiration of this AGREEMENT; and
WI1ERFAS, 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 PREMIRES is located; and
WI1EREAS, the CITY desires to enter into an agreement with GTE, the proposed owner of
the PREMISES within the Tax Abatement Reinvestment Zone for the abatement of taxes pursuant to
Chapter 312 of the TAX CODE as amended;
NOW, THEREFORE, 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:
GENERAL PROVISIONS
1. GTE is the owner of the real property described in Exhibit "A" attached hereto and
made a part hereof for all purposes (the "PREMISES" hereinaRer 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. TIffs AGREEMENT is entered into subject to the rights 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 AUTHORWED
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
TAXABLE VALUE for each Building is at least N'meteen 1Vf~!ion Dollars ($19,000,000) and the
TANGIBLE PERSONAL PROPERTY located therein is at least Eight Million Dollars
($8,000,000) as of January 1 of the FIRST YEAR OF ABATEMENT and as of January 1 of each
Tax Abatement Agreement - Page 2 3819828
98252 0681 I
year thereafter for a period of four (4) consecutive years, the CITY hereby grants GTE an abatement
of fifty percent (50°,~) of the TAXABI,E VALUE of the Building "A" and Building '~" (hereinaRer
defined) and the TANGIBI ,g PERSONAL PROPERTY located on the PREMISES in Building
"A' and Building "B' 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 TAXABI ,E
VALUE of Building "A" and Building 'll" that exceeds the BASE YEAR TAXABLE 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 aRer this AGREEMENT is
executed.
7. The period oftax abatement herein authorized shall be for a period of~ve (5) years.
8. During the period of tax abatement herein authorized, GTE shall be subject to all
CITY taxation not abatec[, including but not limited to, sales tax and ad valorera taxation on land,
inventory and supplies.
DEFINITIONS
9. Wherever used in this AGREEMENT, the following terms shall have the meanings
ascribed to them:
A. The PREMISES shall mean the real property described in Exhibit "A" attached
hereto and incorporated herein for all purposes including any IMPROVEMENTS and
TANGIBLE PERSONAL PROPERTY, excluding inventory and supplies, which are 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 Rifther 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 for each Building and the
TANGIBLE PERSONAL PROPERTY located therein shall be January 1 of the calendar
year immediately following the issuance of a certificate of occupancy for the respective
Building comprising the IMPROVEMEg.
Tax Abatement Agreement - Page 3 ss~gs2s
F. TANGIBLE PERSONAL PROPERTY shall mean tangible personal
property, equipment and fixtures other than inventory or supplies added to the
PREMISES subsequent to the execution of this AGREEMENT.
G. An EVENT OF BANKRUFrCY OR INSOLVENCY shall mean the
dissolution or termination of GTE's existence as a going business, insolvency,
appointment of receiver for any part of GTE's property and such appoimment is not
terminated within thirty (30) days after 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 GTE and such proceeding is not dismissed
within thirty (30) days after the filing thereof.
IMPROVEMENTS
10. GTE owns the real property described in Exhibit "~' and agrees to construct or cause
to be constructed thereon two (2) five-story office buildings, Building "A" and Building "B" of
approximately 249,000 square feet each (and other ancillary facilities such as reasonably required
parking and landscaping more fully described in the submittals filed by GTE with the CITY from lime
to time in order to obtain a building permit) (the "IMPROVEMENTS"). The cost of Building "A"
shall be at least l%rmeteen lVlillion Dollars ($19,000,000). The cost of Building 'q~" shall be at least
Nineteen lVlillion Dollars ($19,000,000). The approximate location of such IMPROVEMENTS will
be shown on a Site Plan of the PREMISES to be submitted to the CITY. The TAXABI ,g VALUE
of Building "A" excluding the land, shall be no less than Nineteen gillion Dollars ($19,000,000) 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) consecutive years. The TAXABI,E VALUE of Building 'q~" excluding the land,
shall be no less than Nineteen Million Dollars ($19,000,000) 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) consecutive years.
GTE or an affiliate or parent of GTE agrees to locate and maintain TANGIBLE PERSONAL
PROPERTY in each building (Building "A" and Building '~") on the PREMISES with a
TAXABLE VALUE of at least Eight lfftllion Dollars ($8,000,000) as of Janumy 1 of the FIRST
YEAR OF ABATEMENT and as of January 1 of each year thereafter for a period of four (4)
consecutive years. Nothing in this AGREEMENT shall obligate GTE to construct
IMPROVEMENTS and/or to locate TANGIBI ,E PERSONAL PROPERTY on the PREMISES,
but said actions are a condition precedent to tax abatement pursuant to this AGREEMENT.
11. GTE or an affiliate of GTE agrees to occupy the PREMISES and to continuously
operate, maintain and use the PREMISES as office buildings for a period of at least ten (10)
consecutive years commencing on the last date a certificate of occupancy is issued for the
IMPROVEMENTS.
12 GTE or an affiliate of GTE agrees to create and fill at least one thousand (1,000)
employment positions at Building "A" and to maintain and fill the same number of employment
Tax Abatement Agreement - Page 4 ss~gs2s
98252 6813
positions each year thereafter for a period of at least ten (10) years commencing on or before
December 31 of the calendar year immediately following the issuance of a certificate of occupancy
for Building "A". GTE or an affiliate of GTE agrees to create and fill at least one thousand
(1,000) employment positions at Building "B" and to maintain and fill the same number of
employment positions each year thereafter for a period of at least ten (10) years commencing on
or before December 31 of the calendar year immediately following the issuance of a certificate of
occupancy for Building "B". Failure of GTE to employ and maintain employment in accordance
with the terms of this AGREEMENT shall be considered an event of default under this
AGREEMENT. In the event of a voluntary or involuntary termination of an employee, which
termination causes the number of employees to fall below the number required pursuant to this
AGREEMENT, GTE shall continue to receive abatement provided the required number of
employees is re-established within sixty (60) days of the termination. Two (2) or more part-time
employees totaling thirty (30) hours or more per week may be substituted for one full-time
employee. To receive credit for an employee, the employee must be retained for a period not less
than forty-five (45) consecutive days, provided, however, the failure of a replacement employee
to remain employed for such forty-five (45) day period shall not result in a failure of GTE to re-
establish the required number of employees as provided above. GTE shall supply to the CITY
copies of the quarterly Texas Employment Commission employment reports and such other
information as may be requested by the CITY which document compliance with these
employment provisions.
CONSTRUCTION OF IMPROVEMENTS
13. As a condition precedent to the initiation of tax abatement pursuant to this
AGREEMENT, GTE will diligently and faithfully, in good and workmanlike manner, pursue the
completion of Building "A" on or before October-31, 1999, and Building "B" on or before December
31, 2000 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); provided, that GTE shall have such additional time to complete
and maintain the IMPROVEMENTS as may be required in the event of"Force Majeure," if GTE is
diligenfiy and faithfully pursuing completion of the IMPROVEMENTS. For this purpose, '~orce
Majeure" shall mean any contingency or cause beyond the reasonable control of GTE including
without limitation, acts of God or the public enemy, war, riot, civil comanotion, insurrection, adverse
weather, government or de facto governmental action (unless caused by acts or omissions of GTE),
fires, explosions or floods, strikes, slowdowns or work stoppages.
14. GTE agrees to construct and maintain the IMPROVEMENTS during the term of this
AGREEMENT in accordance with all applicable state and local laws, codes, and regulations,
including but not limited to CITY zoning landscape, parking tree preservation, and other
development regulations and ordinances.
15. The 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
Tax Abatement Agreement - Page 5 ss~gs2s
98252 068
to GTE, and in accordance with GTE's 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
16. Construction plans for the IMPROVEMENTS constructed on the PREMISES will
be filed with the CITY, which shah be deemed to be incorporated by reference herein and made a part
hereof for all purposes.
17. After completion of the IMPROVEMENTS, GTE shall certify in writing to the
CITY the construction cost ofthe IMPROVEMENTS. GTE shall also annually certify to the CITY
that it is in compliance with each term of the AGREEMENT.
18. The PREMISES and the IMPROVEMENTS constxucted thereon at all limes shall
be used as an office building in the manner (i) that is consistent with the CFI'Y'S Comprehensive
Zoning Ordinance, as amended, and (ii) that, during the period taxes are abated hereunder, is consistent
with the general purposes of encouraging development or redevelopment within the ZONE.
DEFAULT: RECAPTURE OF TAX REVENUE
19. In the event GTE 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 valorera or State sales
taxes owed to the C1TY (provided GTE retains its right to timely and properly protest such taxes or
assessment); (iii) upon the occurrence of any "Event of Bankruptcy or Insolvency"; or (iv)
breaches any of the terms and conditions of this AGREEMENT, then GTE, after the expiration of the
notice and cure periods described below, shall be in default of this AGREEMENT. If GTE is not in
default or otherwise breached this AGREEMENT with respect to Building "A" and the TANGIBI,F~
PERSONAL PROPERTY located therein but is in default or has breached this AGREEMENT with
respect to Building "B" and/or the TANGIBI,E PERSONAL PROPERTY located therein, the
CITY shall not be entitled to terminate this AGREEMENT with respect to Building "A" and the
TANGIBI,E PERSONAL PROPERTY located therein, any termination and recapture of abated
taxes (liquidated damages) shall apply to Building "B" and the TANGIBLE PERSONAL
PROPERTY located therein. As liquidated damages in the event of such default, GTE shall, within
thirty (30) days after demand, pay to the CITY all taxes with respect to this Building and the
TANGIBI,E PERSONAL PROPERTY located therein for which a default or breach has occurred,
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 parties acknowledge that actual damages in the event of default termination
would be speculative and difficult to determine. The parties fiarther agree that any property tax
revenue lost, including interest as a result of this AGREEMENT, shall be recoverable against GTE,
its successors and assigns and shall constitute a tax lien on the PREMISES and the TANGIBI,F~
Tax Abatemere Agreement - Page 6 ss~gs2s
98252 C)6815
PERSONAL PROPERTY and shall become due, owing and shall be paid to the CITY within thirty
(30) days a~er termination.
20. Upon breach by GTE of any obligations under this AGREEMENT, the CITY shall
notify GTE in writing. GTE shall have thirty (30) days from rec~pt of the notice in which to cure any
such default. If the default cannot reasonably be cured within a thirty (30) day period, and GTE has
diligently pursued such remedies as shall be reasonably necessary to cure such default, then the CITY
may extend the period in which the violation must be cured.
21. If GTE fails to cure the default within the time provided as spedfled above or, as such
time period may be extended, then the CTrY at its sole option shall have the right to terminate this
AGREEMENT with respect to the Building and the TANGIBI,E PERSONAL PROPERTY
located therein for which a default or breach has occurred, by written notice to GTE.
22. Upon termination of this AGREEMENT by CITY, with respect to the Building and
the TANGIBLE PERSONAL PROPERTY located therein for which a default or breach has
occurred, all tax revenue abated for such Building and TANGIBI ,E PERSONAL PROPERTY 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 at~er 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 repayment schedule. The computation of tax revenue abated for the purposes of
the AGREEMENT shah be based upon the full TAXABLE VALUE without tax abatement for the
years in which tax abatement hereunder was received by GTE with respect to the Building and
TANGIBLE 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 thirty (30) day payment period.
ANNUAL APPHCATION FOR TAX EXEMFFION; RENDITION
23. It shall be the responsibility of GTE, 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 sitos. A copy of the exemption application shall be submitted to the CITY.
24. GTE 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
25. This AGREEMENT shall be binding on and inure to the bene~t ofthe parties to itand
their respective heirs, executors, administrators, legal representatives, successors, and assigns. This
Tax Abatement Agreement - Page 7 ss~gs2s
98252'06816
AGREEMENT may not be assigned without the consent of the CITY except for an assignment to an
affiliate of GTE for which consent shah not be required. After any pen~-,itted assignment, all references
to GTE herein shall thereaRer be a reference to GTE's successor with respect to any obligations or
liabilities occurring or arising after the date of such assignment.
NOTICE
26. All notices required by this AGREEIVrENT 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 GTE, to:
Atm: Ronald Kulpinski, President
GTE Realty Corporation
5221 N. O'Connor Blvd
Suite 290
HQL 02A13
Irving Texas 75039
If intended for CITY, to:
City of Coppelt, Texas
City Manager
P. O. Box 478 .
Coppelt, Texas 75019
CITY COUNCIL AUTHOREATION
27. 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.
TAXPAYERAUTHOI!IzATION
28. This AGREEMENT was authorized by the Board of Directors of GTE authorizing
the undersigned to execute this AGREEMENT on behalf of GTE.
SEVERABI] JTY
29. 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.
Tax Abatement Agreement - Page 8 ss~gs2a
98252 06817
APPLICABI ~E LAW
30. 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.
31. This AGREEMENT may be executed in any number of counterparts, each of which
shall be deemed an original and constitute one and the same insmanent.
ENTIRE AGREEMENT
32. 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 parlies to be attached to and made a pan of this AGREEMENT.
33. The provisions of this AGREEMENT are hereby declared Covenants running with the
PREMISES and are fully binding on all successors, heirs, and assigns of GTE who acquire any right,
title, or interest in or to the property, or any part thereof. Any person who acquires any rig 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
34. A certified Copy of this AGREEMENT shall be recorded in the Deed Records of
Dallas County, Texas.
INCORPORATION OF RECITALS
35. The determinations recited and declared in the preambles to this AGREEMENT are
hereby incorporated herein as part of this AGREEMENT.
36. M exhibits to this AGREEMENT are incorporated herein by reference for all
purposes wherever reference is made to the same.
Tax Abatement Agreement - Page 9 ss19828
98252 C 6818
CONSTRUCTION
37. 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. GTE acknowledges that it has obtained legal counsel to assist in the preparation of this
AGREEMENT and that GTE has fully satisfied itself; 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/~//9 day of//~}(.)t/,, 1998.
ATTEST:
APPROVED AS TO FORM:
By: PETER ~. S~I~ CITY ~O'R~Y
L~ -- day of IL~4r.d,~/,1998.
EXECUTED in duplicate originals this the
/
Tax Abatement Agreement - Page 10 s819828
98252 O6819
CITY'S ACKNOWLF~DGMENT
STATE OF TEXAS §
COUNTY OF DAI,IAS §
This instrument was acknowledged before me on the/O?t/7 day of//4LJ:)i/c~4/~c~f', 19 ~o~,
by Candy Sheehan, Mayor of the City of Coppe!l, Texas, a Texas municipality, on behalf of said
municipality.
~. '..~,,,~ ,.-* ,.-'
#11lllillll%%%
Tax Abatement Agreement - Page l l ss~gs2a
98252 06820
GTE' S ACKNOWI ,EDGMENT
STATE OF TEXAS §
COUNTY OF DALLAS §
This instrument was acknowledged before me on the t.q4' day of L~4~r.{ ,19__~;
by Ronald Kulpinski, President of GTE Realty Corporation, on behalf of said corporation.
C~Notary Public, State of Texas
My Commission expires:
; --~'-':.~'?"".'--,dAN OOLE
, "'~i"~/"'~"2 MYc, OMMISi10NEXPIRE8
~ MayS, 1~300
Tax Abatement Agreement - Page 12 ss~gg2s
EXHIBIT "A'
DESCRIPTION OF PREMISES
BEING a 23.4418 acre tract of land out of the T.W. Cousy Survey Abstract No. 317, and
including part of Phase I, Block 1I, of One Twenty One Business Park as recorded in Volume
81094, Page 2568, Map Records, Dallas County, Texas and being more particularly described as
follows:
BEGINNING at a 5/8" iron rod set for comer in the easterly line of State Highway 121 (variable
width R.O.W.) and the north line of Corporate Park Boulevard (60' R.O.W.), and said comer
also being the southwest comer of said Phase I, Block H;
THENCE N44°12'00"E, along said easterly right-of-way and leaving the north fight-of-way of
said Corporate Park Boulevard, a distance of 752.03 feet to a 5/8" iron rod set for comer;
THENCE N49°40'49"E, a distance of 339.48 feet to a 5/8" iron rod set for comer in the south
line of Coppell Road (variable width R.O.W.);
THENCE S89°55'5Y'E, with said south line, a distance of 79.33 feet to a 5/8" iron rod set for
comer in the south line of Coppell Road;
THENCE S88°35'00"E, along the centerline of Coppell Road, a distance of 979.25 feet to a 5/8"
iron rod set for comer;
THENCE S 01025'00'' W, departing said centerline, a distance of 110.37 feet to a 5/8" iron rod
set for comer;
THENCE S 46034TM 16" W, a distance of 968.04 feet to a 5/8" iron rod set for comer;
THENCE S01°33'45"W, a distance of 93.33 feet to a 5/8" iron rod set for comer in the
abovementioned north line of Corporate Park Boulevard;
THENCE N88°26' 15"W, along said noah line of Corporate Park Boulevard, a distance of
891.21 feet to a 5/8" iron rod set for comer at the beginning of a curve to the right having a
central angle of 42°38'00'', a radius of 339.73 feet, a tangent of 132.57 feet and a chord bearing
and distance of N 67°07'00"W, 247.00 feet;
THENCE continuing along said north line and along said curve to the fight, an arc distance of
252.79 feet to a 5/8" iron rod set for comer;
THENCE N45°48'00"W, continuing along said north line, a distance of 20.47 feet to the POINT
OF BEGINNING and containing 1,021,123 square feet or 23.4418 acres of land, more or less.
Tax Abatement Agreement - Page 13 SS19822
98252 06822
I., :c~V c'3~,~ ~h~s ~nstrument w~s fit d and time
hc,'L~,:= b~ ;rig2 ........... a/as C~un~, Taxes a~ stamp~
DEC ~0 B98
COUN~~,, ~,~ C~RK, gallas Count,