Loading...
RE 05-12-98.1 A RESOLUTION OF THE CITY OF COPPELL, TEXAS RESOLUTION NO. 051298.1 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 TEXAS HEALTH RESOURCES; AUTHORIZING ITS EXECUTION BY THE MAYOR; AND PROVIDING AN EFFECTIVE DATE. W~S, the Ci~ Co~ h~ b~n pre~t~ a propo~ T~ ~at~ent A~cem~t by ~d be~n ~e Ci~ of Coppe~ Te~ ~d Tex~ H~ Re~, a ~py of w~ch is a~h~ h~o ~d ~rat~ her~m by referee; ~d W~S, u~n ~ renew ~d ~midg~on of ~e ~em, ~d ~ ~gs relat~ ~ereto, ~e CiW Coun~ is of ~e op~on ~d ~ds ~at ~e t~ ~d ~n~tio~ ther~f should be approve, ~d ~t the ~yor shoed ~ ~tho~ to ~te ~e ~ent on beh~ of the CiW of Coppe~ Te~; NOW, ~FO~, BE ~ ~SOL~D BY ~ ~ CO~ OF ~ ~ OF COPPE~ ~S, ~T: SEC~ON 1. ~e Agent a~ch~ her~o ~g b~ re~ew~ by the CiW Coun~ of the CiW of Coppe~ T~ ~d fo~d to be a~le ~d ~ ~e ~ ~ter~ of ~e CiW ~d its cit~, ~, ~d ~e ~e is hereby, ~ ~ ~gs ~prov~ ~d ~e ~yor is hereby au~o~ to ex,ute the ~ment on behOof the Ciw of CoppeH, T~. SEC~ON 2. ~e Ciw Co~ ~ds that ~e ~provements propo~ to be bu~t upon the Pre~ de~b~ ~ the ~t ~ ~ ~e ~no~c d~W of ~e ~u~W t~ou~ a ~mb~tion of new ~pi~ ~ve~h ~g~ ~ ~ rev~ues, ~d ~e cr~fion of ~difionfl job oppo~fles. SEC~ON 3. ~e ~ abatement to be ~t~ by ~e ~ent ~ not ~clude ~v~tofies, ~d topples. 1 S817355 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 affumative 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. SECTION 7. This Resolution shall become effective immediately fi.om and after its passage. DULY RESOLVED AND ADOPTED by the City Council of the City of Coppell, Texas, on this the /o) ~l ~ dayof )'3'~.~ ,1998. CIT~4~, F COPPELL~ TEXAS' /~ y,,/ ,'/ t ATTEST: KATHLEEN ROACH, CITY SECRETARY APPROVED AS TO FORM: PETER G. SMITH, CITY ATTORNEY (PGS/ttl 4/6/98) 2 8S17355 COUNTY CLERK'S MEMO PORTIONS OF THIS DOCUMENT NOT REPRODUCIBLE STATE OF TEXAS WHEN RECORDED § § TAX ABATEMENT AGREEMENT COUNTY OF DAI,I,AS § This Tax Abatement A~reement (the "AGREEMENT") is entered into by and between the City of Coppell, Texas (the "CFIY'), a home rule city and municipal corporation of Dallas County, Texas, duly acting herein by and through its Mayor, and Texas Health System CTHS"), acting by and through its authorized officer. W I T N E S S E T H: 06/09/~ 10~370 $31.00 WHgREAS, the City Council of the City of Coppell, Texas, (the "CITY'), passed an Ordinance (the "ORDINANCE") establishing Tax Abatement l~e'mvestment Zone No. 18 (the "ZONE"), for commercial/industrial tax abatement, as authorized by the Property l~edevelopment and Tax Abatement Act, Chapter 312 of the Texas Tax Code, as amended (the "TAX CODE"); and WHF~REAS, the CITY has adopted guidelines for tax abatement (the "TAX ABATEMENT GUIDELINES"); and WHEREAS, the TAX ABATEMENT GUIDELINES contain appropriate guidelines and criteria governing tax abatement agreements to be entered into by the CITY as contemplated by the TAX CODE; and WHE~REAS, the CITY has adopted a resolution stating that it elects to be eligible to participate in tax abatement; and WHEREAS, in order to maintain and enhance the commercial and industrial economic and employment base of the Coppeil area~ it is in the best interests of the taxpayers for the CITY to enter into this AGREEMENT in accordance with said ORDINANCE, the TAX ABATEMENT GUIDELINES and the TAX CODE; and WHE~REAS, THS' development efforts described herein will create permanent new jobs in the CITY; and WHEREAS, the City Council finds that the contemplated use of the PREMISES (hereinat~er 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 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 Agreement - Page 1 ss17357 98111 03652 WHEREAS, the City Council finds that the improvements sought are feasible and practicable and would be of benefit to the PREMISES (hereinatter defined) to be included in the ZONE and to the CITY at~er expiration of this AGREEMENT; and WltF, REAS, a copy of this AGREEMENT has been ~mished, in the manner prescribed by the TAX CODE, to the presiding officers of the goveming bodies of each of the taxing units in which the PREMISES is located; and WltF, REAS, the CITY desires to enter into an agreement with THS, the proposed owner of the PREMISES within the Tax Abatement Reinvestment Zone No. 18 for the abatement of taxes pursuant to Chapter 312 of the TAX CODE as amended; NOW, T!tF~REFORE, 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 contributes to the economic development of Coppell and the enhancement of the tax base in the CITY, the parties agree as follows: GENERAL PROVISIONS 1. THS is the owner or is under contract to purchase 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 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 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 TAXABLE VALUE for the PREMISES and TANGlBLE PERSONAL PROPERTY is at least Five Million Five Hundred Thousand Dollars ($5,500,000) 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) Tax Abatement Agreement - Page 2 ss17357 98111 03653 consecutive years, the CITY hereby grants THS an abatement of seventy-five percent (75%) of the TAXABI,E 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 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 TANGIBLE PERSONAL PROPERTY added to the PREMISES after 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, THS 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. 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 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. TAXABLE VALUE means the appraised value as certified by the Appraisal District as of January 1 of a given year. D. The BASE YEAR TAX 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 shah be 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 fixtures other than inventory or supplies added to the PREMISES subsequent to the execution of this AGREEMENT. Tax Abatement Agreement - Page 3 ss17357 98111 03fi5 G. An EFENT OF BANKRUPTCY OR INSOLVENCY shall mean the dissolution or termination of THS' existence as a going business, insolvency, appointment of receiver for any part of THS' property and such appointment 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 THS and such proceeding is not dismissed within thirty (30) days after the filing thereof. IMPROVEMENTS 10. TItS owns or is under contract to purchase the real property described in Exhibit "A" and agrees to construct or cause to be constructed thereon a medical office building of approximately 40,000 square feet (and other ancillary facilities such as reasonably required parking and landscaping more fully described in the submittals filed by Tits 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 Six lVfdlion Three Hundred Thousand Dollars ($6,300,000). 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 THS to construct IMPROVEMENTS and/or to locate TANGIBI,F~ PERSONAL PROPERTY on the PREMISES, but said actions are a condition precedent to tax abatement pursuant to this AGREEMENT. 11. THS further agrees to construct and operate or cause to be constructed and operated on the real property described in Exhibit "A", a Texas Health System C'THS") Ambulatory Care Center C'ACC") to be licensed as a not-for profit hospital. Nothing in this AGREEMENT shall obligate THS to construct the ACC but said construction and the continued operation of ACC during the term of this AGREEMENT are conditions precedent to the initiation of and continuation of tax abatement pursuant to this AGREEMENT. Notwithstanding Paragraphs 6 and 9(E) above, THS shall not be entitled to any tax abatement until and unless the ACC is issued a certificate of occupancy and has begun operation. The failure of continued operation of the ACC during the term of this AGREEMENT shall be considered a "default." CONSTRUCTION OF IMPROVEMENTS 12. As a condition precedent to the initiation of tax abatement pursuant to this AGREEMENT, THS will diligently and faithfully, in good and workmanlike manner, pursue the completion of the contemplated IMPROVEMENTS on or before January 1, 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 THS shall have such additional time to complete and maintain the IMPROVEMENTS as may be required in the event of "Force Majeure," if THS is diligently and faithfully pursuing completion of the IMPROVEMENTS. For this purpose, "Force Majeure" shall mean any contingency or cause beyond the reasonable control of THS including, without limitation, Tax Abatement Agreement - Page 4 ss17357 98111 03655 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 THS), fires, explosions or floods, strikes, slowdowns or work stoppages. 13. TIIS agrees to maintain the IMPROVEMENTS during the term of this AGREEMENT in accordance with all applicable state and local laws, codes, and regulations. 14. 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 to THS, and in accordance with THS' 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 15. 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. 16. After completion of the IMPROVEMENTS, THS shall certi~J in writing to the CFFY the construction cost of the IMPROVEMENTS. Ills shall also annually certify to the C1TY that it is in compliance with each term of the AGREEMENT. 17. 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 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. 18. THS agrees to provide to the tenants of the PREMISES, the benefit of the abatement of real property taxes granted herein. THS 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 19. In the event THS 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 TANGIBLE PERSONAL PROPERTY (provided THS 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 THS, after the expiration of the notice and cure periods described brow, shall be in default of this AGREEMENT. As liquidated damages in the Tax Abatement Agreement - Page 5 ss17357 98111 03656 event of such default, THS shall, within thirty (30) days at~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 parties 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 TITS, 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 at~er termination. 20. Upon breach by THS of any obligations under this AGREEMENT, the CITY shall notify THS in writing. THS shall have thirty (30) days from 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 THS 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 TitS fails to cure the default within the time provided as specified 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 THS. 22. 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 repayment schedule. The computation of tax revenue abated for the purposes of the AGREEMENT shall be based upon the full TAXABLE VALUE without tax abatement for the years in which tax abatement hereunder was received by THS with respect to the PREMISES 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 APPLICATION FOR TAX EXEMPTION; RENDITION 23. It shall be the responsibility of THS, 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 situs. A copy of the exemption application shall be submitted to the CITY. 24. THS 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 Tax Abatement Agreement - Page 6 ss17357 98111 O3657 SUCCESSORS AND ASSIGNS 25. 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 THS herein shall thereafter be a reference to THS' successor with respect to any obligations or liabilities occurring or arising after the date of such assignment. NOTICE 26. All 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: flintended for THS, to: Attn: Tom Palmer Texas Health System 5750 Pineland Suite 100 Dallas, Texas 7523 1 If intended for CITY, to: City of Coppell, Texas City Manager P. O. Box 478 Coppell, Texas 75019 CITY COUNCIL AUTHORFZATION 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. TAXPAYER AUTHORIZATION 28. This AGREEMENT was authorized by the Board of Directors of THS authorizing the undersigned to execute this AGREEMENT on behalf of THS. Tax Abatement Agreement - Page 7 ss17357 98111 O3658 SEVERABH ,1TY 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. APPLICABLE LAW 30. This AGREEMENT shall be constmed under the laws of the State of Texas. Venue for any action under this AGREEMENT shah be the State District Court of Dallas County, Texas. This AGREEMENT is performable in Dallas County, Texas. COUNTERPARTS 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 instrument. ENTIRE AGREEMENT 32. This AGREEMENT embodies the complete agreement of the paxties 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 earmot be modified without written agreement of the parties to be attached to and made a part of this AGREEMENT. 33. The provisions of this AGREEMENT are hereby declared covenants running with the PREI~II~ES and are fully binding on all successors, heirs, and assigns of THS who acquire any right, title, 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 bereof~ 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 and Denton 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. Tax Abatement Agreement - Page 8 8817357 98111 03659 EXHIBITS 36. All exhibits to this AGREEMENT are incorporated herein by reference for all purposes wherever reference is made to the same. 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. THS acknowledges that it has obtained legal counsel to assist in the preparation of this AGREEMENT and that THS has fi~lly 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 ~'//aday of ~ , 1998. CITY OF COPPELL, TEXAS~~yO~.~ By: ATTEST: , ...... crry S C T, Y APPROVED AS TO FORM: By: ~Z~ E~~G. S~CITY ATTORNEY EXECUTED in duplicate originals this the ~0 day of ~ , 1998. TEXAS HEALTH SYSTEM Title: t~{--~_- ~5, Tax Abatement Agreement - Page 9 ss17357 98111 03660 CITY' S ACKNOWLEDGMENT STATE OF TEXAS § COUNTY OF DAIJAS § This instrument was acknowledged before me on the Z,9-/,~ day of ff?~;~ , 19~'a°, by Candy Sheehan, Mayor of the City of Coppell, Texas, a Texas municipality, behalf of said municipality. Notary Public, State of Texas ~,, ~4r~' o~ x~-~'''' Tax Abatement Agreement - Page 10 ss17357 981 I I 03661 THS' ACKNOWLEDGMENT STATE OF TEXAS § COUNTY OF DALLAS § This instin nt was acknowledged before me on the ~-~, {3'~"'day of ~ 19q__,g/ by T'kt ~ b) Prf ~ ,r~ lrn ef~ - U ,~c_ o,_ ?t~e_5 ~ ~p,~; 1' of Texas Health System, on b~half of said coloration. Nota~ Public, State of My Co~ssion expires: ~ ~ 8U E McEVOY ] ~ Pub m Slate of Te~8 ~ M~ ~il~' E~s 0~1~ l N ~ Tax Abatement Agreement - Page 11 ss17357 98111 0366;2 ~E:NG a 1(,8-'3 acre C.-ac= o,~ land siEuaced In the G.C. wool~ey Su,-fey, ~n~ be~n~ a portion o~ Loc 1, Blo~ D G~ ~he l~nal plac o~ vista .~id~e, an a~ion ~o Uhe C~y of Le~villc as recordcd ~ ~e~ F, Page 271 o~ Plan Recor~ Of D~uon ~, Te~ [P,R.D.C.T). said 14.8~3 a~e nra~ ~re ~r=i~a=ly desc=~ed by meues ~ bo~ aa Sollows: BECI~iN3 au a 1/2' iron rod found a= ~he imuersec=ion fo =he rt~hn-of-ny (R.0.~.} l~e of Den=on Tap R~d (a nri~le widnh,X.O.~.} nhz 50uuh ~.O.~. line of Bi~hla:d Dr~ve [a 70' R.O.W.), al~o being ~sne~s= Nor~wes= co~cr of said ~ 1; ~a al~ said Souuh R.C.W. line of nhe followi~g =hrce (3) co~ee~ ~s=~ces: NOr~ 43 degrees 07 ~nu=es 03 sects Exs~, s disn~ce oZ 89.02 Zee~ =c a 1/2' iron rod found a =he no~hernmcsE Noruhwes= corner cf said LoS Noah 8S de~e~ 33 minutes 37 ~ec~ Zasc, a distance of ~8.56 feeC CO a 1/2' ~ ~ f~ tot co~r; So~ 88 deCeel 43 m~ceS 45 sec~b ~t. a ~sC~ce of S46.72 fee~ ~a Sou~ OO de~rcts 43 ~u=es 23 secon~ wesE, dep~g said a.O.V. 1~, ~= ~ a~oss I~d ~C 1, a ~~e 0~ 1046.26 ~eeC Co a ~ ~ U~ '~ & ~ess' mac ~ ~ So~ ~.O.W. 1~ Or V~ ~a ~On~ said North R.O.g. line, along a ~e =o nhe r~gh= ~viag a~ of 26E~.0~ fetE, a dclna ~gle of ~4 deuces 23 ~uues 01 sectS, a 1~ ~ord ~c ~s Nor~ 72 de~=ces 32 m~uZes 33 seCOn~ West, a oZ 667.26 feet, an arc disC~ce of 669.02 teen Co a 5/8' iron rod capped '~er & B~ess' Eec aC ~ ~ce=secr~om of the s~d No~ R.O.W. l~e the ~aid Ease R.O.W. line o~ DenC~ Tap Hood, also being nhe sou~emmosc S~vesr comer of said ~c l, L~d ZDm white ~ i~n rod fo~ ~s 44 ~egees 56 ~uces 17 se~ hs=, 0.49 THENCE alon~ sa~d Ease R.O.M. line the remaining Cvo [l) courses and ~mces: NDr:h 32 degrees 31 mi~uccs 33 secon~ west, a disnance o= 6N.65 feec Co a s/e* ~:on rod capped *Corner & Burgess* sec ac the ve==e=umosc ~ou=bwesc cc~er of said ~c 1. a~ f:~ whence u iron ro~ fo~d ~rs Noah NS d~ees 09 ~uzes 4B Secon~ ~sr. O.&4 Nczh D0 degrees 43 m~uues 23 secon~ hsc, a ~sz~ce of 732.34 feec Eo PCI~ OF BEG!NN=NG, and CO~AINING 14,823 acres ~ land. more or le~s. 9elll 03663 h99~0 I.t 188 '"'0-"'"""""'"""'"'"""""""'"""'-" d~$cr~bed rea~ ~rope~ t~cause of cel~ ~ race is invel~ IM STATE OF TEY~S COU~ ~ DALES I hPraby cedify this instrumQnt wa= filed on the date and tim page or the named records of Oailes Count, T~aa ms '~;' ....~C~ COUN~ CLER~ Dallas Coun~.