RE 2015-0922.2
RESOLUTION NO. 2015-0922.2
A RESOLUTION OF THE CITY COUNCIL OF THE CITY COPPELL,
TEXAS, APPROVING AN EXCHANGE OF 108.616± ACRES OF REAL
PROPERTY BY AND BETWEEN TRAMMELL CROW COMPANY NO.
43, LTD. AND ITS RELATED AFFILIATES, AND THE CITY OF
COPPELL, TEXAS FOR AN ADJUSTMENT TO THE SHORELINE OF
NORTH LAKE, WHEREIN EACH PARTY SHALL CONVEY AND
RECEIVE 54.808± ACRES OF REAL PROPERTY, RESPECTIVELY, AS
SET FORTH IN EXHIBITS “A” AND “B”; AUTHORIZING THE MAYOR
OF THE CITY OF COPPELL, TEXAS TO EXECUTE ONE OR MORE
SPECIAL WARRANTY DEEDS \[EXHIBIT “A”\] AND/OR
ACKNOWLEDGE CONVEYANCE \[EXHIBIT “B”\]; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS
, the City of Coppell, Texas (hereinafter referred to as the “City”) entered into
a Settlement Agreement (hereinafter referred to as “Agreement”) by and between Trammell Crow
Company No. 43, Ltd. and its related affiliates (hereinafter referred to as “TCC”) regarding land
generally located at North Lake.
WHEREAS
, the City purchased certain real estate as settlement in the matter between the
City and TCC; and
WHEREAS
, the Agreement and Amendments required the City and TCC to adjust the
lakeshore edge and exchange acre-for-acre property on the shoreline of Northlake at Four Hundred
Eighty-six (486’) feet of Mean Sea Level (hereinafter referred to as “MSL”); and
WHEREAS
, the parties have performed the required conditions precedent to and executed
the terms in accordance with the Settlement Agreement, as amended and the Omnibus Settlement
Agreement; and
WHEREAS
, the Agreements require the exchange of the shoreline property as recited in
this Resolution; and
WHEREAS
, the Special Warranty Deeds attached hereto and incorporated herein by
reference as if set forth in full as Exhibits “A” and “B”, respectively, correctly reflects the adjusted
shoreline under the terms of the Settlement Agreement, Amendments and Omnibus Settlement
Agreement signed by and between the respective parties;
WHEREAS
, the City Council of the City of Coppell finds it to be in the public interest to
enter into such an agreement.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF COPPELL, TEXAS, THAT:
Coppell Resolution –Northlake property exchange with Trammell Crow Pg 1 of 2 TM 73124
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SECTION 1. The City hereby authorizes the Mayor to execute one or more Special
Warranty Deeds attached hereto and incorporated herein by reference as if set forth in full as Exhibit
"A",transferring to TCC and affiliates approximately 54.808±acres of real property; and
SECTION 2. The City hereby accepts from TCC or its affiliates executed Special
Warranty Deeds in the form attached hereto and incorporated herein by reference as if set forth in
full as Exhibit"B"transferring to the City approximately 54.808±acres of real property; and
SECTION 3. This resolution shall become effective immediately upon approval.
DUL,,Y PASSED d approved by the City Council e f the City of Coppell, Texas, on this
the 41a day ofL , 2015.
1 APP ! OVE ► :
. i
1 1 Pi .0 II
KA' N S BO HUN , Mayor
ATTEST:
RISTEL PE T NOS, City gcretary
APPRO , : • S TO FORM:
Ai
z//� /'.,�
RO _ RT E. HAG /' , City Attorney
(9/2/15-ag-73124)
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Coppell Resolution—Northlake property exchange with Trammell Crow Pg 2 of 2 TM 73124
i_6212164v.2