RE 10-14-97.2A RESOLUTION OF THE CITY OF COPPELL., TEXAS
RESOLUTION NO. %l)/`/%%•
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 DFW TRADE CENTER I, LIMITED
PARTNERSHIP; 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 DFW Trade Center I, Limited Partnership 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 CITY
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 m 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.
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 property subject to the Agreement is located, a written
notice that the City of Coppell, Texas, intends to enter into the Agreement. The notice
SS11906
given by the City Manager included a copy of the Agreement approved by this
Resolution.
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.
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 //-/4 day of On -�o L c r , 1997.
CITY OF COPPELL, TEXAS
CANDY S ZEEHAN, MAYOR
ATTEST:
KATHLEEN ROACH, CITY SECRETARY
APPROVED AS TO FORM:
PETER G. SMITH, CITY ATTORNEY
(PGS/ttl 9/5/97)
SS11906
STATE OF TEXAS §
§ TAX ABATEMENT AGREEMENT
COUNTY OF DALLAS § ;� 1 1
11104/97 730309 $31.00
Deed
This Tax Abatement Agreement (the "AGREEMENT") is entered into by and between the
City of Coppell, Texas (the "CITY"), a Home Rule City and municipal corporation of Dallas County,
Texas, duly acting herein by and through its Mayor, the DFW Trade Center I Limited Partnership
("DFW"), acting by and through its respective authorized officer.
WITNESSETH:
WHEREAS, the City Council of the City, passed an Ordinance (the "ORDINANCE")
establishing Tax Abatement Reinvestment Zone No. 14 (the "ZONE"), for commercial/industrial tax
abatement, as authorized by the Property Redevelopment and Tax Abatement Act, Chapter 312 of the
Tax Code, as amended (the "TAX CODE"); and
WHEREAS, 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
WHEREAS, 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 Coppell 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
WHEREAS, DFW's establishment described herein will create permanent new jobs in the
CITY; and
WHEREAS, the City Council finds that the contemplated use of the PREMISES (hereinafter
defined), the contemplated improvements to the PREMISES 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 GUIDELINE, the ORDINANCE adopted by the CITY, the TAX CODE and all
other applicable laws; and
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97215 04822
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WHEREAS, the City Council finds that the improvements sought are feasible and practicable
and would be of benefit to the land to be included in the ZONE and to the CITY after expiration of
this AGREEMENT; and
WHEREAS, a copy of this AGREEMENT has been furnished, in the manner prescribed by
the Code, to the presiding officers of the governing bodies of each of the taxing units in which the
PREMISES is located; and
WHEREAS, the CITY desires to enter into an agreement with DFW as the owner of the
PREMISES within the Tax Abatement Reinvestment Zone No. 14 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 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. DFW is the owner or is under contract to purchase that real property described in Exhibit "A"
attached hereto and made a part hereof for all purposes (the "PREMISES"), which PREMISES are
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 Texas Property Redevelopment and Tax Abatement
Act of the Tax Code, Chapter 312, 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.
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97215 04823
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6. Assuming an investment of at least $5.5 million in taxable assets, and subject to the terms and
conditions of this AGREEMENT, the CITY hereby grants DFW an abatement of ad valorem
taxation on real and/or personal property with respect to the PRENIISES of up to seventy-five percent
(75%) 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 PRENIISES that
exceeds that property's taxable value for the year in which this AGREEMENT is executed (base
year/1997). The tax abatement agreement for tangible personal property may only apply to the
personal property added to the real property after this AGREEMENT is executed.
7. The period of tax abatement herein authorized shall be five (5) years, beginning on January 1,
1998 and continuing until December 31, 2002, unless otherwise amended by the parties pursuant to the
TAX CODE.
8. During the period of tax abatement herein authorized, DFW 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 PRENIISES shall mean the property described on Exhibit "A" attached
hereto and incorporated herein for all purposes including any improvements and personal
property, excluding inventory, which is added to the property subsequent to the execution of
this AGREEMENT;
B. The EMPROVEMENTS shall mean the contemplated improvements
described herein located on the PREMISES and as further described in the plans submitted to
the CITY, including but not limited to buildings, structures, tangible personal property,
equipment, and fixtures added to the PREMISES other than inventory.
C. The TOTAL ASSESSED TAX VALUE shall mean the total assessed taxable
value on January 1 of any tax year of the PREMISES, any Improvements located on the
PRENIISES and the tangible personal property, excluding inventory, located on the
PRENIISES.
D. The BASE YEAR TAX VALUE shall mean the total assessed taxable value
for the year in which the Tax Abatement Agreement is executed (1997).
E. The FIRST YEAR OF THE TAX ABATEMENT AGREEMENT shall be
1998, unless otherwise agreed to by the parties.
Tax Abatement Agreement - Page 3
97215 04824
sslo220
F.CERTI)hI'IED APPRAISED VALUE means the appraised value of the
PREMISES as certified by the Dallas Central Appraisal District as of January 1 of each year in
which the tax abatement is granted.
IMPROVEMENTS
10. DFW is the owner or is under contract to purchase real property which is partly located in the
City described in Exhibit "A" and agrees to construct or cause to be constructed on the PREMISES a
commercial warehouse and office facility consisting of approximately 503,074 square feet (and other
ancillary facilities such as required parking and landscaping more fully described in the submittals filed
by DFW with the CITY from time to time in order to obtain a building permit) known as Building "E"
(hereinafter referred to as the "IMPROVEMENTS"). The cost of the IMPROVEMENTS should
exceed $16 Million Dollars. Nothing in this AGREEMENT shall obligate DFW to construct
IMPROVEMENTS on the PREMISES, but said IMPROVEMENTS are a condition precedent
upon initiation of tax abatement pursuant to this AGREEMENT. Subject to the terms and conditions
of this AGREEMENT, DFW is entitled to an abatement of ad valorem taxation on real property
and/or personal property of seventy-five percent (75%) conditioned upon DFW, its successors or
assigns, diligently constructing the aforesaid IMPROVEMENTS.
CONSTRUCTION OF IMPROVEMENTS
11. As a condition precedent to the initiation of tax abatement pursuant to this AGREEMENT,
DFW will diligently and faithfully, in good and workmanlike manner, pursue the completion of the
contemplated Improvements on or before December 31, 1997, 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
DFW shall have such additional time to complete the IMPROVEMENTS as may be required in the
event of "Force Majeure," if DFW 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 DFW 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 DFW), fires, explosions or floods, strikes, slowdowns or work
stoppages.
12. DFW agrees to maintain the IMPROVEMENTS during the term of this AGREEMENT in
accordance with all applicable state and local laws, codes, and regulations.
13. The C1TY, 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
DFW, and in accordancewith DFW's visitor access and security policies, in order to insure that the
Tax Abatement Agreement - Page 4
97215 04825
ss10220
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. The plans for such EWROVEMENTS as filed shall be deemed to be incorporated
by reference herein and made a part hereof for all purposes.
15. DFW agrees from the date a certificate of occupancy is issued until the expiration of this
AGREEMENT to continuously operate and maintain the PREMISES as an office and commercial
warehouse facility, or any other activity consistent with local zoning, in compliance with all applicable
federal, state and local laws.
16. After completion of the IMPROVEMENTS, DFw shall certify in writing to the CITY the
construction cost of the IMPROVEMENTS. DFW shall annually certify to the CITY 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.
DEFAULT: RECAPTURE OF TAX REVENUE
18. In the event DFW 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; (n) has any delinquent ad valorem or State sales taxes owed
to the CITY (provided DFW retains its right to timely and properly protest such taxes or assessment);
or (iii) breaches any of the terms and conditions of this AGREEMENT, then DFW, after the
expiration of the notice and cure periods described herein, shall be in default of this AGREEMENT.
As liquidated damages in the event of such default, DFW shall, within thirty (30) days after 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 DFW, its successors and assigns and shall constitute a tax lien on the PREMISES
itself and shall become due, owing and shall be paid to the GTTY within thirty (30) days after demand.
Tax Abatement Agreement - Page 5
97215 04826
ss10220
19. Upon breach by DFW of any obligations under this AGREEMENT, the CITY shall notify
DFW in writing. DFW 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 DFW 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 for an additional thirty (30) days.
20. If DFW fails to cure the default within the time provided as specified herein 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 DFW.
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
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 DFW with respect to the PREMISES, as determined by the Dallas Central
Appraisal District, multiplied by the tax rate of the years in question, as calculated by the City Tax
Assessor -Collector. Penalties as provided for delinquent taxes shall accrue after expiration of the thirty
(30) day payment period.
ANNUAL APPLICATION FOR TAX EXEMPTION
22. It shall be the responsibility of DFW, in its name and on behalf and as agent for DFW,
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 for review.
SUCCESSORS AND ASSIGNS
23. 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 which consent shall not be
unreasonably withheld, conditioned or delayed.
Tax Abatement Agreement - Page 6
97215 o4827
ss10220
NOTICE
24. 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:
If intended for DFW, to:
DFW Trade Center I Limited Partnership
Attn: Doug Johnson
5420 LBJ Freeway
Suite 1275
Dallas, Texas 75240
If intended for CITY, to:
City of Coppell, Texas
City Manager
P. O. Box 478
Coppell, Texas 75019
CITY COUNCIL AUTHORIZATION
25. 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.
SEVERABILITY
26. In the event any section, subsection, paragraph, sentence, phrase or word herein is held invalid,
illegal or unconstitutional, the balance of this AGREEMENT, shall be enforceable and shall be
enforced as if the parties intended at all times to delete said invalid section, subsection, paragraph,
sentence, phrase or word.
APPLICABLE LAW
27. 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.
Tax Abatement Agreement - Page 7
97215 04828
SS10220
COUNTERPARTS
28. 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
29. This AGREEMENT embodies the complete agreement of the parties hereto, superseding all
oral or written previous and contemporary agreements between the parties and relaxing 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.
30. The provisions of this AGREEMENT are hereby declared covenants running with the
PREMISES and are fully binding on all successors, heirs, and assigns of DFW who acquire any right,
title, or interest in or to the PREMISES or any part thereof. Any person who acquires any right, title,
or interest in or to the PREMISES, 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
31. A certified copy of this AGREEMENT shall be recorded in the Deed Records of Dallas
County, Texas.
INCORPORATION OF RECITALS
32. The determinations recited and declared in the preambles to this AGREEMENT are hereby
incorporated herein as part of this AGREEMENT.
�011�
33. All exhibits to this AGREEMENT are incorporated herein by reference for all purposes
wherever reference is made to the same.
Tax Abatement Agreement - Page 8
97215 04829
SS10220
EXECUTED in duplicate originals this the % y day of 1997.
CITY OF COPPELL, TEXAS
Lo
CANDY
ATTEST:
DFW TRADE CENTER I LUHTF.D
PARTNERSHIP
/ By: ID International (Texas), Inc., a Georgia
Corporations managin al partner
MAYOR 1
By: _..—�
N
Tir�
Y s
i
t
By: `�/Cc !,a,i. WW— c�'
KATBLEEN ROACH, CITY SECRETARY
APPROVED AS TO FORM:
Phnfm G. wrti, CITY ATTORNEY
(PGS/td 8/5/97)
Tax Abatement Agreement - Page 9 4' '
• � ^, �� ` ss10220
97215 04830
MAYOR'S ACKNOWLEDGMENT
STATE OF TEXAS §
COUNTY OF DALLAS §
BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas, on this
day personally appeared Candy Sheehan, Mayor of the City of Coppell, Texas, a municipal
corporation, known to me to be the person and officer whose name is subscribed to the foregoing
instrument and acknowledged to me that the same was the act of the said City of Coppell, Texas, a
municipal corporation, that he was duly authorized to perform the same by appropriate resolution of
the City Council of the City of Coppell, and that she executed the same as the act of said City for the
purpose and consideration therein expressed and in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this the Y day of
"p r- 1997.
My
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Tax Abatement Agreement - Page 10
Notary Public, State of Texas
97215 04831
ss10220
CORPORATE ACKNOWLEDGMENT
STATE OF GEORGIA §
COUNTY OF FULTON §
BEFORE ME, the undersigned authority a No Public in and for the State of Georgia, on
this day personally appeared of ID International (Texas), Inc., the
managing general partner of DFW Trade de'64 I Limited Partnership, being known to me to be the
person and officer whose name is subscribed to the foregoing instrument and acknowledged to me that
the same was the act of the said corporation, and that he executed the same as the act of said
corporation for the purpose and consideration therein expressed and in the capacity therein stated.
G UNDER MY HAND AND SEAL OF OFFICE this the s0 tL day of
1997.
My Commission Expires:
(01;L-� jq �
Tax Abatement Agreement - Page 11
Notarylic, State of Georgia
t (��
97215 04332
ssloa20
08/26/1997 15:29 4463116 GOODWIN MARSHALL PAGE 04
EXHIBIT A
PROPERTY DESCRIPTION
STATE OF TEXAS:
COUNTIES OF DALLAS & DENTON:
BEING a tract of land located in the Cities of Grapevine and Coppell, Texas, situated in the
B.B.B. & C.R.R. Company Survey, Abstract No. 1772, the H. Turner Survey, Abstract No. 1796,
the Peter Harmonsou Survey, Abstract No. 1795, Dallas County, Texas and being situated in the
H. Turner Survey, Abstract No. 1248, Denton County, Texas, being all of Lot 2, Block 4 of Lot 1,
Lot 2 & Tract A, Block 4, D/FW Trade Center, an addition to the Cities of Grapevine and
Coppell, Dallas and Denton Counties as recorded in Cabinet N, Slide 275 of the Plat Records of
Denton County, Texas (PRDCT) and being a portion of a 180.023 acre tract of land as described
in deed to DPW Trade Center I Limited Partnership, a Texas limited partnership, recorded in
Volume 96251, Page 03235 of the Deed Records of Dallas County, Texas (DRDCT) and being
more particularly described as follows:
BEGINNING at a 1/2" iron rod set in the northwesterly line of Patriot Drive (60' R.O.W. - Per
Plat recorded in Cabinet N, Slide 275, PRDCT) at the southerlymost corner of said Lot 2, Block
4 and the easterlymost corner of Lot 1, Block 4 of said Lot 1, Lot 2 & Tract A, Block 4, D/FW
Trade Center;
THENCE N 48056'22" W, departing the northwesterly line of said Patriot Drive, along the line
common to the southwesterly line of said Lot 2, Block 4 and the northeasterly line of said Lot 1,
Block 4, a distance of 702.31 feet to a 1/2" iron rod set in the line common to the westerly line of
said DFW Trade Center I Limited Partnership tract and a southeasterly line of a tract of Iand as
described in quitclaim deed to the City of Grapevine, Texas, recorded in Volume 88055, Page
0811, DRDCT;
THENCE Northeasterly and southeasterly, along the lines common to said Lot 2, Block 4, said
DFW Trade Center I Limited Partnership tract and said City of Grapevine tract the following:
N 14°13'12" E, 246.88 feet to a 3/8" iron rod found at the point of curvature of a circular
curve to the right, having a radius of 220.00 feet;
Northeasterly, along said circular curve to the right, through a central angle of 25°12'33",
an arc distance of 96.80 feet and having a chord that bears N 26°49'28" E, 96.02 feet to a
1/2" iron rod set at the point of tangency;
N 39°2545" E, 617.50 feet (Adjoiner Deed 618.18 feet) to a 1/2" iron rod set;
N 38°12'18" E, 213.36 feet (Adjoiner Deed 213.52 feet) to a 3/8" iron rod found at the
point of curvature of a non -tangent circular curve to the right, having a radius that bears
S 52°10'21" E, 198.01 feet;
Northeasterly, along said non -tangent circular curve to the right, through a central angle
of 69°30'07", an arc distance of 240.19 feet (Subject Deed 240.19 feet - Adjoiner Deed
239.21 feet) and having a chord that bears N 72°34'42" E, 225.74 feet to a 1/2" iron rod
set;
97215 04833
68/•26/1997 15:29 4463116 GOODWIN MARSHALL PAGE 65
S 73°1741" E (Departing previous curve non -tangent), 153.23 feet (Adjoiner Deed 153.29
feet) to a 1/2" iron rod set at the point of curvature of a circular curve to the right, having
a radius of 360.00 feet;
Southeasterly, along said circular curve to the right, through a central angle of 26144'52",
an arc distance of 168.06 feet (Adjoiner Deed 167.90 feet) and having a chord that bears
S 59055'15" E, 166.54 feet to a 1/2" iron rod set at the point of tangency;
S 46032'49" E, 1.5736 feet (Adjoiner Deed 157.85 feet) to a 1/2" iron rod set at the point
of curvature of a circular curve to the left, having a radius of 500.00 feet, from which a
1/2" iron rod found bears N 62°30'04" E, 10.93 feet;
Southeasterly, along said circular curve to the left, through a central angle of 02°23'33", an
arc distance of 20.88 feet and having a chord that bears S 47`44'35" E, 20.88 feet to a 3/8"
iron rod found at the point of tangency, from which a 1/2" iron rod found bears
N 62°59'49" E, 10.85 feet;
S 48'56'22" E, 222.29 feet to a 1/2" iron rod set at the easterlymost corner of said Lot 2,
Block 4 and the northerlymost corner of Tract A, Block 4 of said Lot 1, Lot 2 & Tract A,,
Block 4, D//FW Trade Center;
THENCE S 41°03'38" W, departing the line common to said DFW Trade Center I Limited
Partnership tract and said City of Grapevine tract, along the line common the southeasterly line
of said Lot 2, Block 4 and the northwesterly line of said Tract A, Block 4, at a distance of 21.43
feet passing a 1/2" iron rod set at the westerlymost comer ctf said Tract A, Block 4, said point
being an angle point in the northerly line of said Patriot Drive, continuing along the southeasterly
line of said Lot 2, Block 4 and the northwesterly line of said Patriot Drive, a total distance of
1121.86 feet to a 12" iron rod set at the point of curvature of a circular curve to the left, having a
radius of 830.00 feet;
THENCE Southwesterly, continuing along the northwesterly line of said Patriot Drive and said
circular curve to the left, through a central angle of 14°02'10", an arc distance of 203.33 feet and
having a chord that bears S 34°02'33" W, 202.82 feet to a 1/2" iron rod set at the point of
tangency;
S 27°01'28" W, continuing along the northwesterly line of said Patriot Drive, 9.06 feet to a 1/2"
iron rod set at the point of curvature of a circular curve to the right, having a radius of 770.00
feet;
Southwesterly, continuing along the northwesterly line of said Patriot Drive and said circular
curve to the right, through a central angle of 06'58'27", an are distance of 93.73 feet and having a
chord that bears S 30°3041" W, 93.67 feet to the POINT of BEGINNING and containing
1,110,907 square feet or 25.503 acres of land.
=7215 04834
S7ZV12^) /o
, A, o, , 7,
Any provtsion herein which rbsWts thr rale, rental, or use of the
described real property because of color or race is invalid and
unenforceable under federal law.
STATE OF TEXAS COUNTY OF DALLAS
I hereby certify this instrument was filed on the date and time
stamped hereon by me and was duly repriled in the volume and
page of the named records bf Dallas County, Texas as Stamped
hereon by me.
NDV 4 W
�Nrr OR
�o a
��Tf OF S�+�y� '� •
COUNTY CLERK, Dallas County, Texas
61 :Zt Nd y h- A1O�N/16
T b.3 I Ik 4Irl 00
-I J
97215 04335
P.O. Box 478
��E C E I V E® Coppell, Texas 75019
972 -462 -nm?
he City With A Beautiful Future
O. BOX 479
:OPPELL, TEXAS 75019 RECORDS CENTER
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CERTIFICATE REGARDING TAX ABATEMENT AGREEMENT
January 20, 2000
Mr. Richard P. Leeret
Cabot Industrial Properties, L.P.
Two Center Plaza, Suite 200
Boston, Massachusetts 02108-1906
RE: Lots 1 and 2, Block 4 of DFW Trade Center, located in the Cities of Grapevine
and Coppell, Denton and Dallas Counties, Texas (the "Property
Dear Mr. Leeret:
This Estoppel Certificate (the "Certificate") is made as of the date set forth above by the
undersigned with reference to that certain Tax Abatement Agreement dated October 14, 1997,
executed by the City of Coppell, Texas and DFW Trade Center I Limited Partnership and
recorded in book 97215, page 4822, Dallas County, Texas real estate records (the "Lot 2
Agreement"), and that certain Tax Abatement Agreement dated December 9, 1997, executed by
the City of Coppell, Texas and DFW Trade Center I Limited Partnership and recorded in book
97251, page 3082, Dallas County, Texas real estate records (the "Lot 1 Agreement"), with
respect to the Property (the Lot 1 Agreement and the Lot 2 Agreement are collectively referred to
herein as the "Agreements").
Until December 28, 1999, DFW Trade Center I Limited Partnership (the "Seller") was the owner
of the Property. Seller sold the Property to Cabot Industrial Properties, L.P. (the 'Purchaser") on
such date.
The undersigned, with respect to the Agreements, does hereby verify as follows:
The undersigned has the power and authority under the Agreements to confirm the status
of compliance by the owner of the Property with the Agreements.
2. No amendment, modification or supplement to the Agreements exists, and the
Agreements are in full force and effect.
3. Neither the Seller nor the Property is in default of any obligations, conditions or
covenants of the Agreements.
Mr. Richard P. Leeret
January 20, 2000
Page Two
4. Pursuant to Paragraph 23 of the Lot 2 Agreement and Paragraph 24 of the Lot 1
Agreement, the City of Coppell consents to the assignment of the Agreements from Seller
to Purchaser, upon written assumption of the liability and obligations of DFW Trade
Center I Limited Partnership under the Agreement by Cabot Industrial Properties, L.P.
IN WITNESS WHEREOF, the undersigned has caused this statement to be duly executed as of
the date first above written.
CITY OF WPPELL, TEXAS
Witt, City Manager
(SEAL)
STATE OF TEXAS
COUNTY OF DALLAS §
This instrument was acknowledged before me on January �Z , 2000, by Jim Witt, City
Manager of the City of Coppell, Texas, a municipality, on behalf of said municipality.
Notary Public in and for the State of Texas
My commission expires:
(SEAL) �
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