RE 12-09-97.4 RESOLUTION NO. 120997.4
A RESOLUTION OF THE CITY OF COPPELL, TEXAS, APPROVING
TERMS AND CONDITIONS OF A TAX ABATEMENT AGREEMENT BY AND
BETWEEN THE CITY OF COPPELL, TEXAS AND LINCOLN CBC, LTD.;
AUTHORIZING ITS EXECUTION BY THE MAYOR; PROVIDING AN EFFECTIVE
DATE.
~S, ~e Ci~ Co~ h~ b~ pres~t~ a propos~ T~ ~atem~t A~eement by
~d mong ~e Ci~ of Coppe~ Te~ md Um~ CBC, Ltd. a ~py ofw~ch is amh~ hereto ~d
~m¢o~t~ herim by reference; ~d
W~S, upon ~ redew ~d ~mid~tion of the ~eement, ~d ~ ~s relat~
~o, ~e Ci~ Co~ is of ~e op~on ~d ~ds ~at the tern ~d ~ndkiom thief should be
approv~ ~d ~ the ~yor should be ~tho~ed to ex.ute ~e A~eement on be~ of ~e CiW of
Coppe~ Te~;
NOW, ~FO~, BE ~ ~SOL~D BY l'~ ~ CO~ OF ~
OF COPPEI J~ ~S, ~at:
1. ~e A~ent a~h~ her~o ha~g been redew~ by the Ci~ Counc~ of
~e Ci~ of Coppe~ Te~, ~d found to be a~p~le ~d ~ the be~ ~tere~ of ~e
Ci~ ~d ks d~, be, ~d ~e ~e is hereby, ~ ~ ~gs approv~ ~d ~e Mayor
is her~y ~o~ to ex~te the ~ment on he. of the Ci~ of Coppe~ Text.
2. ~e Ci~ Coun~ ~ds that the ~provements propos~ to be bu~t upon the
Pre~s de~b~ ~ the ~mem ~ e~ ~e ~no~c ~t~ of ~e
~mu~ ~rou~ a ~mb~afion of new ~pi~ Bve~men~ ~ed ~es ~
rev~u~, ~d ~e ~tion of~difion~ job oppo~fies.
3. ~e ~ ~atement to be ~t~ by the A~ment ~ not ~clude ~ventode~
~d topples.
4. ~e ~provements propos~ for ~e Pr~ses ~ ~mp~sh ~e ~
~atmem ~de~es of~e Ci~ of Coppe~ Te~.
5. ~e Ci~ ~ager de~ver~ to the presid~g offi~r of ~e gove~g body of
tach ~g u~t ~ w~ch ~e prope~ mbj~ m the ~e~ent is lomt~ a
nofi~ ~at ~e ~ of Coppe~ Te~, ~tends to enter ~to the ~mem. ~e nofi~
97251 03066
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.
7. This Resolution shall become effective immediately from and ailer its passage.
DULY RESOLVED AND ADOPTED by the City Council of the City of Coppell, Texas, on
this the ~?~6~ dayof.~t,~,,~ ~,,~- , 1997.
CITY OF COPPELL, TEXAS
C)~i~( '~HE~HAN, MAYOR
ATTEST:
KATI4I.~EN ROACI-[ CITY SECRETARY
APPROVED AS TO FORM:
PETER G. SMITH, CITY ATTORNEY
(pGS/ttl 11/20/97)
2 SS14155
97251 030fi7
STATE OF TEXAS §
§ TAX ABATEMENT AGREEMENT
COUNTY OF DALLAS §
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, and Lincoln CBC II, Ltd. ("LINCOLN"),
acting by and through its authorized officer.
WITNESSETH:
WHEREAS, the City Council of the City of Coppell, Texas, (the "CITY"), passed an
Ordinance (the "ORDINANCE") establishing Tax Abatement Reinvestment Zone No. 16 (the
"ZONE"), for commercial/industrial tax abatement, as authorized by the Property Redevelopment
and Tax Abatement Act, Chapter 312 of the Texas Tax Code, as mnended (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, LINCOLN's 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 (hereinafter
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 ssts3s4
97251 03068
WHEREAS, 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
WHEREAS, 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
WHEREAS, the CITY desires to enter into an agreement with LINCOLN, the proposed
owner of the PREMISES within the Tax Abatement Reinvestment Zone No. 1 6 for the abatement
of taxes pursuant to Chapter 3 12 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. LINCOLN is the owner of that 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 Texas Property Redevelopment and Tax
Abatement Act of the Texas 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.
Tax Abatement Agreement - Page 2 ss13384
97251 03069
6. Assuming an investment of at least $5.5 million in taxable assets, amd subject to the
terms and conditions of this AGREEMENT, the CITY hereby grants LINCOLN an abatement of
ad valorem taxation on mai property with respect to the PREMISES of 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 PREMISES that
exceeds the taxable value for the PREMISES 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 for a period of five (5) years,
beginning on January 1 of the year immediately following the calendar year in which a final
certificate of occupancy issued for the IMPROVEMENTS, (the "Beginning Date") and continuing
until December 31 immediately preceding the fifth anniversary of the Beginning Date, unless
other~vise amended by the parties pursuant to the Tax Code.
8. During the period of tax abatement herein authorized, LINCOLN 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 heroin 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 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, to be constructed on the PREMISES
and as further described in the plans submitted to the CITY.
C. The Total Assessed Tax Value shall mean the total assessed taxable value on
January 1 of any tax year of the PREMISES, and any IMPROVEMENTS located on the
PREMISES and the tangible personal property, excluding inventory, located on the
Premises.
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).
Tax Abatement Agreement - Page 3 ss13384
97251 O307O
E. The First Year of the Tax Abatement Agreement shall be 1999 except as
provided in paragraph 7, unless otherwise agreed to by the parties.
F. Certified Appraised Value means the appraised value of the PREMISES
owned by LINCOLN as certified by the Central Appraisal District as of January 1 of each
year in which the tax abatement is granted.
IMPROVEMENTS
10. LINCOLN owns the PREMISES described in Exhibit "A" and agrees to construct
or cause to be constructed thereon approximately 530,800 square feet of office, warehouse and
distribution facilities(and other ancillary facilities such as reasonably required parking and
landscaping more fully described in the submittals filed by LINCOLN with the CITY from time to
time in order to obtain a building permit) (the "IMPROVEMENTS") known as the Coppell
Business Center II. The cost of the land and IMPROVEMENTS comprising the PREMISES
should exceed $14 Million Dollars. 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 LINCOLN 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, LINCOLN is
entitled to an abatement of ad valorem taxation for the PREMISES of seventy-five percent (75%)
conditioned upon LINCOLN, 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, LINCOLN will diligently and faithfully, in good and workmanlike manner,
pursue the completion of the contemplated IMPROVEMENTS on or before September 30, 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 thereof); provided, that LINCOLN shall have such additional time to
complete and maintain the IMPROVEMENTS as may be required in the event of "Force
Majeure," if LINCOLN 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 LINCOLN 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 LINCOLN), fires, explosions or
floods, strikes, slowdowns or work stoppages.
Tax Abatement Agreement - Page 4 ss13384
97251 03071
I2. LINCOLN 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 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 LINCOLN, and in accordance with LINCOLN'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).
GENER2kL REQUIREMENTS
14. Construction plans for the IMPROVEMENTS constructed on the PREMISES
will be filed with the CITY. The plans for such IMPROVEMENTS as filed, and as may be
thereafter amended, shall be deemed to be incorporated by reference herein and made a part hereof
for all purposes.
15. LINCOLN 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, warehouse and distribution center, or any other activity consistent with local zoning, in
compliance with all applicable federal, state and local laws.
16. After completion of the IMPROVEMENTS, LINCOLN shall certify in writing to
the CITY the construction cost of the IMPROVEMENTS. LINCOLN 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.
1 8. LINCOLN agrees to provide to applicable tenants of the PREMISES, the benefit
of the abatement of real property taxes granted herein. LINCOLN shall, upon written request,
provide the CITY with satisfactory evidence that the benefits of this AGREEMENT have been
provided to the applicable tenants of the PREMISES.
DEFAULT: RECAPTURE OF TAxX REVENUE
19. In the event LINCOLN fails in performance of any of the following conditions: (i)
completion of the IMPROVEMENTS in accordance with this AGREEMENT or in accordance
Tax Abatement Agreement - Page 5 ss13384
97251 03072
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 (provided LINCOLN retains
its right to timely and properly protest such taxes or assessment); (iii) upon the occurrence of any
"Event of Bankruptcy or Insolvency". For purposes hereof, an "Event of Bankruptcy or
Insolvency" shall mean the dissolution or termination of LINCOLN's existence as a going
business, insolvency, appointment of receiver for any part of LINCOLN's property and such
appointment is not terminated within sixty (60) 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 LINCOLN and such proceeding is not
dismissed within sixty (60) days after the filing thereof; or (iv) breaches any of the terms and
conditions of this AGREEMENT, then LINCOLN, 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, LINCOLN shall, within sixty (60) days after demand, pay to the CITY ali
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
an~ended 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 LINCOLN, 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 CITY w/thin sixty (60) days.
20. Upon breach by LINCOLN of any obligations under this AGREEMENT, the
CITY shall notify LINCOLN in writing. LINCOLN shall have sixty (60) days from receipt of
the notice in which to cure any such default. If the default cannot reasonably be cured within a
sixty (60) day period, and LINCOLN has diligently pursued such remedies as shall be reasonably
necessary to cure such default, then the parties may extend the period in which the violation must
be cured for an additional sixty (60) days.
21. If LINCOLN 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 LINCOLN.
22. Upon termination of this AGREEMENT by CITY, all tax revenue abated as a
result of this AGREEMENT with respect to LINCOLN shalI become a debt to the CITY as
liquidated damages, and shall become due and payable not later than sixty (60) days after a notice
of termination is made. In the event of a default by LINCOLN for other than a failure to complete
the IMPROVEMENTS, which default is not timely cured, all taxes for the year or years in which
the default occurs which otherwise would have been paid to the CITY without benefit of the Tax
Abatement shall become a debt to the CITY and shall be due and payable as liquidated damages
not later than sixty (60) days after the expiration of the cure period described in this
AGREEMENT. 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
Tax Abatement Agreement - Page 6 ss ~33s4
97251 03072
revenue abated for the purposes of the AGREEMENT shall be based upon the frill taxable value
without tax abatement for the years in which tax abatement hereunder was received by LINCOLN
with respect to the PREMISES or TANGIBLE PERSONAL PROPERTY (as the case may be)
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 sixty (60) day
payment period.
ANNUAL APPLICATION FOR TAX EXEMPTION
23. It shall be the responsibility of LINCOLN, 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 for review.
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 to an affiliate of LINCOLN without the consent of the
CITY, or to any other entity with the consent of the CITY, which consent will not be unreasonably
withheld, continued or delayed. After any permitted assignment, all references to LINCOLN
herein shall thereafter be a reference to LINCOLN's successor with respect to any obligations or
liabilities occurring or arising after the date of such assignment.
NOTICE
25. 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 LINCOLN, to:
Lincoln CBC II, Ltd.
Attn: Thomas H. Kuhlmann and Michael A. Peinado
3300 Lincoln Plaza
500 N. Akard
Dallas, Texas 75201-3394
Tax Abatement Agreement - Page 7 ss~3384
97251 0307
If intended for CITY, to:
City of Coppell, Texas
City Manager
P. O, Box 478
Coppell, Texas 75019
CITY COUNCIL AUTHORIZATION
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.
SEVERABILITY
27. 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
28. 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
29. 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
30. 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 ssts384
97251 O3075
31. The provisions of this AGREEMENT are hereby declared covenants running w/th
the PREMISES and are fully binding on all successors, heirs, and assigns of LINCOLN 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 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
32. A certified copy of this AGREEMENT shall be recorded in the Deed Records of
Dallas County, Texas.
INCORPORATION OF RECITALS
33. The determinations recited and declared in the preambles to this AGREEMENT
are hereby incorporated herein as part of this AGREEMENT.
EXHIBITS
34. All exhibits to this AGREEMENT are incorporated herein by reference for all
purposes wherever reference is made to the same.
CONSTRUCTION
35. 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. LINCOLN acknowledges that it has obtained legal counsel to assist in the preparation of
this AGREEMENT and that LINCOLN has fully satisfied itself, without warranty or
representation not expressly contained herein, by CITY that the trax abatement contemplated hereby
is available in all respects.
Tax Abatement Agreement - Page 9 ssi3384
97251 03075
EXECUTED in duplicate originals this the_~ day of/_f-)~o.z/)o; 1997.
CITY OF COPPELL, TEXAS LINCOLN CBC II, LTD.
~ANDY SHEEHAN, MAYOR Title: ' //:~,~ ~-.F:~.~
ATTEST
KATHLEEN ROACH, CITY SECRETARY
APPROVED AS TO FORM:
~ETER G. SMITH, CITY ATTORNEY
(PGS/ttl 10/28/97)
Tax Abatement Agreement - Page 10 SSl3384
97251 03077
CITY'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 he 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 ¥7c]~ day of
Notary Public, State of Texas
My Commission Expires:
...- %
. g ~
,,,,,v.,,-....:?.... .,.
,,,,,"
Tax Abatement Agreement - Page 1 1 ssi3384
97251 03078
LINCOLN'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 ~-e~hoa (~. ~e~.,tz, being the ~i (¢ ~)c~5~ 6[o~sYr of LINCOLN
CBC II, Ltd., known to me to be the person and officer whose name is subscribed to the foregoing
instrtm~ent and acknowledged to me that the same was the act of the said LINCOLN CBC II, Ltd.,
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.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this the ~'14~ day of
~F'~c32,~,be~ , 19 qq .
stat.
~_ '~.~' Corem Exp. 08-25-2001 ! Notary Public, State of Texas
My Commission Expires:
DS'- 9,%
Tax Abatement Agreement - Page 12 ss~33s4
97251 03079
EXHIB1T."A"
LEGAL DESCRIPTION OF PROPERTY
Being a tract of land situated in the Cordelia Bowen Survey, Absi0ract No. 56, in the City of Coppell, D~llas County, Texas,
and being part of Tract 2 a 39.7248 acre tract of land as described by Special Warranty Deed to MCDLF Holding Company
as filed for record in Volume 90150, Page 1511, Deed Records Dallas County, Texas, and being part of Northlake 635
Business Park, an Addition to the City of Coppel[, Dallas County, Texas, according to the plat thereof recorded in Volume
85056, Page 3358 of the Map Records of Dallas County, Te,~as, and being more particularly descdbed as follows:
BEGINNING at a ~ inch set iron rod w~h pla~c yellow cap stamped 'HaiffAssoc. Inc.' (~ inch found iron rod with cap) at
the West line of Belt line Road (a 120 foot width right-of-way at this point), and the most southern southeast coma' of the
Northlake 635 Business Park, an Addition to the City of CoppeII, Texas, according to the plat recorded in Volume 85056,
Page 3358, Deed Records of Dallas County, Texas:
THENCE South 89 degrees 53 minutes 18 seconds West, 1,174.28 feet, with the North line of a tad of land described in
Deed to Hattie Mae Leeley dated January 24, 1958, as re~rded in Deed Records of Dallas County, Texas, to a I inch
diameter iron pipe found for comeq,
THENCE North 00 degrees 56 minutes 56 seconds East, 1,111.41 feet, with the East line of said Lesiey Tract to a found 1
inch diameter iron pipe;
THENCE South 89 degrees 50 minutes 51 seconds East, 95.43 feet to a % inch set iron rod for com~
THENCE North 39 degrees 21 minutes 04 seconds East, 251.75 feet to a ½ inch set iron rod for comer in the Southerly
line of Lakeshore Drive (a 00 foot right-of-way}, a dedicated street in said Northlake 635 Business Park Add~on, said iron
rod also being on a circular curve to the left having a central angle of 27 degrees 37 minutes 48 secoeds, a radius of
380.00 feet having a back tangent of South 61 degrees 52 minutes 14 seconds East;
THENCE with said curve in a Easterly direction and with the said Southerly line of Lakeshore Drive, an arc distance of
183.25 feet to a ~ inch iron rod wffh cap found for the point of tangency of said curve;
THENCE South 89 degrees 30 minutes 00 seconds East, 388.27 feet, with said Southerly line of LaKeshore Drive, to a
inch set iron rod with cap for comer, said iron rod also being at the beginning of a circular curve to the ;ight having a central
angle of 12 degrees 50 minutes 19 seconds, a radius of 300.00 fee~
THENCE with said curve in a Eastedy direction and with the said Southerly line of Lakeshore Drive, an arc distance
67.22 feet to a % inch iron rod set for the point of reverse curvature of a curve to the left having a central angle of 12
degrees 50 minutes 19 seconds, a radius of 300.00 feet;
THENCE wfth said curve in an Eastedy direction and with the said Southerly line of Lakeshore Drive, and arc distanca of
67.22 feet to a ',& inch rod found for the point of tangency of said curve;
THENCE South 89 degrees 30 minutes 00 seconds East, 203.34 feet, with said Southerly line of Lakeshore Drive, to a
inch iron rod found for comer,
THENCE South 10 degrees 48 minutes 30 secends East; 56.09 fee[ depading said Southerly line of Lakeshore Drive, to a
'~ inch iron rod found for comer in the West Une of Belt Line Road (120 foot width right-of-way at this point);
THENCE South 00 degrees 30 minutes 00 seconds West, 1,182.14 feet, with the said West line of Belt Une Road, to the
POINT OF BEGINNING and containing 1,448,192 square feet or 33.2000 acres of land, more or less.
97251 03080