OR 2001-973 Designates Reinvestment Zone 37 Centex Commercial Development ORDINANCE NO. 2001-973
AN ORDINANCE OF THE CITY OF COPPELL, TEXAS, DESIGNATING
REINVESTMENT ZONE NO. 37 (CENTEX COMMERCIAL
DEVELOPMENT CORPORATION); PROVIDING ELIGIBILITY OF THE
ZONE FOR COMMERCIAL-INDUSTRIAL TAX ABATEMENT;
CONTAINING FINDINGS THAT THE AREA QUALIFIES TO BE
DESIGNATED AS A REINVESTMENT ZONE AND THE
IMPROVEMENTS SOUGHT ARE FEASIBLE AND PRACTICABLE AND
OF BENEFIT TO THE LAND AND THE CITY; PROVIDING A
SEVERABILITY CLAUSE; PROVIDING A REPEALING CLAUSE; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council of the City of Coppell, Texas, has caused notice to be
published in a newspaper having general circulation in the City and has delivered such notice to the
presiding officer of the governing body of each taxing unit that includes in its boundaries real
property described herein; and
WHEREAS, the City Council of the City of Coppell, Texas, has conducted a public hearing
on the designation of the area described herein as a reinvestment zone;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COPPELL, DALLAS COUNTY, TEXAS THAT:
SECTION 1: That the City Council of the City of Coppell, Texas finds that the area
described herein will, if designated as a reinvestment zone, be reasonably likely to contribute to the
retention or expansion of primary employment, or to attract major investment in the zone that will
be of benefit to the property and contribute to the economic development of the City. The City
Council further 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 the expiration of a tax abatement
agreement.
SECTION 2. That pursuant to the provisions of Section 312.201 of the Texas Tax Code,
the property described in Exhibit "A" attached hereto and made a part hereof for all purposes is
hereby designated as a reinvestment zone and for identification is assigned the name "Reinvestment
Zone No. 37."
SECTION3. That the property within Reinvestment Zone No. 37 is eligible for
commercial-industrial tax abatement effective on January 1, 2002.
SECTION 4. If any article, paragraph or subdivision, clause or provision of this ordinance
shall be adjudged invalid or held unconstitutional, the same shall not affect the validity of this
ordinance as a whole or any part or provision thereof, other than the part so decided to be invalid or
unconstitutional.
SECTION 5. That all provisions of ordinances of the City of Coppell, Texas, in conflict
with the provisions of this ordinance be, and the same are hereby, repealed, and all other provisions
not in conflict with the provisions of this ordinance shall remain in full force and effect.
SECTION 6. This ordinance shall take effect immediately from and after its passage, as
the law and charter in such cases provide.
DULY PASSED by the City Council of the City of Coppell, Texas, on the 13th day of
November,2001.
APPROVED:
CANDY SHEEHAN, MAYOR
ATTEST:
LIBBY BALL, CITY SECRETARY
APPROVED AS TO FORM:
PETER G. SMITH, CITY ATTORNEY
(PGS/ev/ttl 11/5/~
2 43818
OWNER'S CERTIFICATE
STATE OF TEXAS
COUNTY OF DENTON
BEI2qG a 7.010 acre tract of land and being part of a 25.93 acre tract of land situated in the C.G.
Woolsey Survey, Abstract No. 1402, the Thomas B. Garvin Survey, Abstract No. 506, the .I.H.
Donald Survey Abstract No. 1696 and the W.M. Trimble Survey, Abstract No. 1268 in Dallas
County, Texas inclusive, and being a part of Lot 3, Block G of Vista Ridge Addition, an addition
to the City of Coppell, Texas, as recorded in Cabinet F, Page 271 of the Plat Records of Denton
County (-P.R-De.C.T.), and being more particularly described as follows:
COMMENCING, at a 5/8-inch found iron rod with a cap stamped "CARTER & BURGESS"
(hereinafter referred to as '%vith C&B cap") found at the northwesterly comer of a comer clip at
the intersection on the southeasterly fight-of-way line of State Highway 121 (variable width
right-of-way) as dedicated by deed recorded in CC # 94-R0000002, (C.C.R. De.C.T) with the
westerly right-of-way line of MacArthur Boulevard (120 foot right-of-way) same being the
northwesterly comer of the aforementioned 25.93 acre tract of land, same being on a circular
curve to the left, having a radius of 3,804.72 feet whose chord bears South 61 degrees 29 minutes
11 seconds West, a distance of 1,176.93 feet;
THENCE in Southwesterly direction, continuing along said southerly right-of-way line, and said
northerly line of said 25.93 acre tract of land, and s~id common city limit, curving to the left,
through a central angle of 17 degrees 47 minutes 42 seconds, an arc distance of 1,181.68 feet to
a 5/8-inch found ~ron rod with C&B cap, said point being the point oftangency of the
aforementioned curve.
THENCE South 52 degrees 35 minutes 20 seconds West, along said southerly right-of-way line,
same being the northerly line of said 25.93 acre tract of land, and said common city limit line, a
distance of 95.68 feet to THE POINT OF BEGINNING;
THENCE South 37 degrees 44 minutes 09 seconds East, departing said southerly right-of-way
a distance of 130.59 feet to a point for comer;
THENCE East a distance of 360.41 feet to a point for comer;
THENCE South a distance of 287. I8 feet to a point for comer;
THENCE South 89 degrees 05 minutes 26 seconds East a distance of 101.1 $ feet to a point for
comer;
THENCE South 50 degrees 54 minutes 38 seconds East a distance of 68.37 feet to a point for
comer, said point being on the northerly right-of-way line of Forrest Hill Drive (50 foot right-of-
way) as dedicated by deed recorded in Volume 97215, Page 4~852 of the Deed Records of Denton
County (D.R.De.C.T.) same being on a circular curve to the left, having a radius of 837.60 feet
and whose chord bears South 51 degrees 09 minutes 09 seconds West, a distance of 49.67 feet;
EXtlIBIT "A"
THENCE in Southwesterly direction, continuing along said northerly right-of-way line, and
along said circular curve to the left, through a central angle of 03 degrees 23 minutes 54 seconds,
an arc distance of 49.68 feet to a 5/8-inch found iron rod with C&B cap for corner, said comer
being on said northerly fight-of-way line of Forrest Hill Drive, also being on the common line of
the south line of said 25.93 acre tract of land and the North line of Vista of Coppell Phase lB
Addition as recorded in Volume 98043, Page 66 (D.R.D.C.T.);
THENCE North 89 degrees 05 minutes 26 seconds East, along said common line, a distance of
1,142.02 feet to a I/2-mch found iron rod for comer, said comer being on said southerly right-of-
way line of State Highway 121, same being the southwesterly comer of said 25.93 acre tract of
land, also being the common city limit line between the City of Lewisville, Texas and the City of
Coppell, Texas;
THENCE North 52 degrees 35 minutes 20 seconds East, along said southerly fight-of-way line
of said State Highway 121, same being the northerly hne of said 25.93 acre tract of land, a
distance of 737.75 feet THE POI2qT OF BEGINNING and CONTAINING 305,366 square feet
or 7.010 acres of land more or less.
EXMIBIT "A"
STATE OF TEXAS §
§ TAX ABATEMENT AGREEMENT
COUNTY OF DALLAS §
05/06/02 3222927 $39.00
This Tax Abatement Agreement (the "Agreement") is enteredl)lnto by and among the City of
Coppell, Texas (the "City"), Centex Office Vista Ridge Coppell I, L.P. ("Owner"), Centex Homes
("Centex"), CTX Mortgage Company, LLC ("CTX') and Commerce Land Title, Inc.
("Commerce") (collectively referred to as "Lessees").
WITNESSETH:
WHEREAS, the City Council of the City of Coppell, Texas, (the "City"), passed an
Ordinance (the "Ordinance") establishing Tax Abatement Reinvestment Zone No. 37 (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 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
goveming 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, Owner owns the real property described in Exhibit "A" attached hereto
("Land") and has or intends to construct certain hnprovements on the Land (hereinafter defined)
and to lease the Improvements to the Lessees; and
WHEREAS, Lessees have or intend to enter into leases or subleases for occupancy of a
portion of the Improvements; and
WHEREAS, Owner's and Lessees' 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 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
CENTEX TAX ABATEMENT AGREEMENT - Page 1
43821
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 Owner and the Lessees 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. Owner is the owner of the Land, which Land is located within the city limits of the
City and within the Zone. Owner intends to construct the Improvements on the Land and to lease a
portion of the same to Lessees. The Lessees have or intend to lease or sublease a portion of the
Improvements from Owner and locate Tangible Personal Property on the Premises.
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 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 the Taxable
Value for the Improvements, excluding the Land, is at least Four Million Dollars ($4,000,000) as of
January 1 of the First Year of Abatement and as of January 1 of each year thereafter that this
Agreement is in effect, the City hereby grants Owner an abatement of fifty percent (50%) of the
Taxable Value of the Improvements for a period of five (5) consecutive years and grants each
Lessee an abatement of fifty percent (50%) of the Taxable Value of the Tangible Personal Property
CENTEX TAX ABATEMENT AGREEMENT - Page 2
43821
for a period of five (5) consecutive years; provided however the abatement granted Owner for the
Improvements, and the abatement granted Lessees for the Tangible Personal Property shall be
increased to seventy-five percent (75%) for any year that this Agreement is in effect if the Taxable
Value of the Improvements is at least Five Million Five Hundred Thousand Dollars ($5,500,000) as
of January 1 of such year. The actual percentage of Taxable Value of the Improvements subject to
abatement for each year this Agreement is in effect will apply only to the portion of the Taxable
Value of the Improvements that exceeds the Base Year Taxable Value. The actual percentage of
Taxable Value of the Tangible Personal Property subject to abatement 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, Owner and Lessees shall be
subject to all 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. "Base Year Taxable Value" shall mean the Taxable Value for the Land for
the year in which the Tax Abatement Agreement is executed (2001).
B. "Event of Bankruptcy or Insolvency" shall mean the dissolution or
termination of a party's existence as a going business, insolvency, appointment of
receiver for any part of a party's property and such appointment is not terminated within
ninety (90) 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 such party, and such proceeding is not dismissed within
ninety (90) days after the filing thereof.
C. "First Year of Abatement" shall mean January 1 of the calendar year
immediately following the issuance of the last certificate of occupancy for the portion of the
Improvements leased or subleased by Lessees.
D. "Force Majeure" shall mean any contingency or cause beyond the reasonable
control of a party 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 such party), fires, explosions or floods, strikes,
slowdowns or work stoppages.
E. "Improvements" shall mean the contemplated improvements to be
constructed on the Land and as further described herein.
CENTEX TAX ABATEMENT AGREEMENT - Page 3
43821
F. "Premises" shall collectively mean the Land and Improvements but
excluding Tangible Personal Property.
G. "Taxable Value" means the appraised value as certified by the Appraisal
District as of January 1 of a given year.
H. "Land" means the real property described in Exhibit A attached hereto and
incorporated herein for all purposes.
I. "Tangible Personal Property" shall mean tangible personal property,
equipment and fixtures owned by or leased by Lessees other than inventory or supplies
added to the Premises subsequent to the execution of this Agreement.
IMPROVEMENTS
10. Owner owns the Land and intends to construct or caused to be constructed thereon a
"flex" office building containing approximately 70,000 square feet (and other ancillary facilities
such as reasonably required parking and landscaping more fully described in the submittals filed by
Owner with the City from time to time in order to obtain a building permit) ("Improvements").
Lessees intend to lease and occupy the Improvements and locate Tangible Personal Property on the
Premises. Nothing in this Agreement shall obligate Owner to construct the Improvements on the
Land, and/or for Lessees to occupy the Improvements and locate Tangible Personal Property on the
Premises but said actions are a condition precedent to tax abatement pursuant to this Agreement.
CONSTRUCTION OF IMPROVEMENTS
11. As a condition precedent to the initiation of tax abatement pursuant to this
Agreement, Owner will diligently and faithfully, in good and workmanlike manner, pursue the
completion of the contemplated Improvements on or before December 31, 2002, as good and
valuable consideration for this Agreement, and 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 Owner shall have such additional time to complete and maintain the Improvements as
may be required in the event of "Force Majeure," if Owner is diligently and faithfully pursuing
completion of the Improvements.
12. Owner and Lessees agree to maintain the Improvements during the term of this
Agreement in accordance with all applicable state and local laws, codes, and regulations. Owner
and Lessees agree that the Improvements shall be used only as a "flex" office building for a period
of five (5) years commencing on the date a certificate of occupancy is issued for the Improvements.
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
Owner and/or Lessees as the case may be, and in accordance with Owner's and/or Lessees as the
case may be, 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).
CENTEX TAX ABATEMENT AGREEMENT - Page 4
43821
GENERAL REQUIREMENTS
14. Construction plans for the Improvements constructed on the Land will be filed with
the City, which shall be deemed to be incorporated by reference herein and made a part hereof for
all purposes.
15. After completion of the Improvements, Owner shall certify in writing to the City the
construction cost of the Improvements. Owner and Lessees shall each annually certify to the City
that it is in compliance with each term of the Agreement.
16. The Land 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.
17. Owner agrees to provide to the tenants of the Premises, the benefit of the abatement
of real property taxes granted herein. Owner 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.
18. Owner agrees to lease the Improvements to Lessees for a period of at least five (5)
consecutive years beginning the First Year of Abatement. Lessees each agree to lease and
continuously occupy the Improvements for a period of at least five (5) consecutive years beginning
the First Year of Abatement.
DEFAULT: RECAPTURE OF TAX REVENUE
19. In the event Owner and/or Lessees: (i) fail to complete the Improvements in
accordance with this Agreement or in accordance with applicable State or local laws, codes or
regulations; (ii) have delinquent ad valorem or sales taxes owed to the City (provided such party
retains its right to timely and properly protest such taxes or assessment); (iii) have any "Event of
Bankruptcy or Insolvency"; or (iv) breach any of the terms and conditions of this Agreement, then
such party, 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, the "Defaulting Party" 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 abated tax, including interest as a result of
this Agreement, shall be recoverable against such party, its successors and assigns and shall
constitute a tax lien on the Premises and shall become due, owing and shall be paid to the City
within thirty (30) days after termination.
20. Upon breach by Owner and/or Lessees of any obligations under this Agreement, the
City shall notify the "Defaulting Party" in writing, who shall have thirty (30) days from receipt of
CENTEX TAX ABATEMENT AGREEMENT - Page 5
43821
the notice in which to cure any such default. If the default cannot reasonably be cured within a
thirty (30) day period, and the "Defaulting Party" has diligently pursued such remedies as shall be
reasonably necessary to cure such default, then the City may extend the period in which the default
must be cured.
21. If the "Defaulting Party" 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 Owner and Lessees.
22. Upon termination of this Agreement by City, all tax 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 abated tax 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 the abated tax for the purposes of the Agreement shall be based upon
the full Taxable Value of the Improvements and the Tangible Personal Property without tax
abatement for the years in which tax abatement hereunder was received by Owner and/or Lessees
with respect to the Improvements and the 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 the Owner and Lessees, 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 upon request.
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 permitted
assigns. This Agreement may be assigned with the consent of the City Manager.
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 or overnight delivery:
CENTEX TAX ABATEMENT AGREEMENT - Page 6
43821
If intended for Owner, to:
Attn: Dan Anderson
Centex Commercial Development
2728 N. Harwood, 3rd Floor
Dallas, Texas 75201
with a copy to:
Attn: General Counsel
Centex Development Company, L.P.
2728 N. Harwood, 3rd Floor
Dallas, Texas 75201
If intended for Lessees, to:
Attn: Controller
Centex Homes
Coppell, Texas 75019
with a copy to:
Attn: General Counsel - DFW
Centex Homes
2800 Surveyor Blvd.
Carrollton, Texas 75006
If intended for City, to:
Atto: City Manager
City of Coppell, Texas
P. O. Box 478
Coppell, Texas 75019
With copy to:
Peter G. Smith
Nichols, Jackson, Dillard, Hager & Smith, L.L.P.
1800 Lincoln Plaza
500 N. Akard
Dallas, Texas 75201
CENTEX TAX ABATEMENT AGREEMENT - Page 7
43821
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 mad 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.
CONVENANTS RUNNING WITH THE PREMISES
31. The provisions of this Agreement are hereby declared covenants running with the
Premises and are fully binding on all successors, heirs, and assigns of Owner 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
Premises.
RECORDATION OF AGREEMENT
32. A certified copy of this Agreement shall be recorded in the Deed Records of Dallas
County, Texas.
CENTEX TAX ABATEMENT AGREEMENT - Page 8
43821
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.
35. This Agreement and the Tax Abatement provided herein is conditioned on Owner
entering into a lease with Lessees for a portion of the Improvements, and Lessees entering into a
lease with Owner for the occupancy of the Improvements for a period of at least five (5) years
beginning the First Year of Abatement.
EXECUTED in duplicate originals this the ~-t~y of~, 2001. CITY OF COPPELL, TE~S
By: !~__~tlAi~y~i~R'l
ATTEST:
By:
,7
gC~TY ATTORNEY
L-~BB'Y BALL,~T'Y SECRETARY
CENTEX TAX ABATEMENT AGREEMENT - Page 9
43821
EXECUTED in duplicate originals this the ~Thtday of J/~'~t~/'~2001.
CENTEX OFFICE VISTA RIDGE COPPELL I,
L.P., a Delaware limited partnership
By:
By:
Centex Office General Partner, LLC, a
Delaware limited liability company, its
general partner
at'rt~ v
EXECUTED in duplicate originals this the t day of g/i v~'n~t~, 2001.
CENTEX HOMES, a Nevada general partnership
By: Centex Real Estate Corporation, a Nevada
Corporation, its general partner
Title:
EXECUTED in duplicate originals this the -/7'[ ~ day ofAq;i/ta/7//-~' ,~2001.
CTX MORTGAGE COMPANY, LLC, a Delaware
limited liability company
By: ~
CENTEX TAX ABATEMENT AGREEMENT - Page 1 0
43821
EXECUTED in duplicate originals this the ¥#q day of~t/t~/~001.
COMMERCE
corporation
By:
Name:
Title:
LAND TITLE, INC., a Nevada
CENTEX TAX ABATEMENT AGREEMENT - Page 1 1
43821
CITY'S ACKNOWLEDGMENT
STATE OF TEXAS §
COUNTY OF DALLAS §
This instrument was acknowledged before me on the ~ay of ~~. ,
2001, by Candy Sheehan, Mayor of the City of Coppell, Texas, a Texas municipalit~'on behal£ of
said municipality.
STATE OF '~.'}(A-5 §
COUNTY OF ~ L.L-/~-~ §
This instrument was acknowledged before me on the q~b~ day of
2001, by Dan Anderson being the Vice President of Centex Office General Partner, LLC, a
Delaware limited liability company, its general partner of Centex Office Vista Ridge Coppell I,
L.P., a Delaware limited partnership, on behalf of said limited partnership.
I!: o .." · '"; ~ SARAH OUAM
~-~{.~.}~ Notary Public, State of Texas
My Co~ission Expires:
IO-t -
Notary Public, State of '~,.~'
CENTEX TAX ABATEMENT AGREEMENT - Page 1 2
43821
CENTEX HOMES' ACKNOWLEDGMENT
STATE OF TEXAS §
L>~4o,¢ §
COUNTY OF DALLAS §
This instrument was acknowledged before me ~on the ~ day of ~~,
2001, by ~1~1~ ~~i~S being the (~~61/e~ of Centex Rea~
Estate Co~oration, a Nevada corporation, its general pa~ner of Cemex Homes, a Nevada
general pa~nership, on behalf of said limited pa~nership.
· MyComm Exp 10-02 2003
My Commission Expires:
3
Nc~ry Public, State of Texas
CTX MORTGAGE'S ACKNOWLEDGMENT
STATE OF ~-:~ §
COUNTY or §
This instrument was acknowledged before me on the d~7/~ day l of/(/0[/~°/y]~tv~,
2001, by ~ ~ Ma~'~ ~rer~ being the~fl/~P ~ &~/~O.~f C~ ~e
Comply, LLC, a ~ liability company, on behalf of said limited pa~nership.
Notau Public, St~
My Commission Expires:
CENTEX TAX ABATEMENT AGREEMENT - Page 13
43821
STATE OF
COUNTY OF
This instrument was acknowledged before me on the
2001,by ~.fl,¢tJ/'/rk/~-r'~°~'~ beingthe ~~{
Title, Inc., on behalf of said co~oration.
My Commission Expires:
COMMERCE LAND TITLE'S ACKNOWLEDGMENT
¢7z,/7 d ay o f/(v/~Fr/9,]/)?r'
d~'otxr/¢F[ of Commerce Land
Notary Public,
CENTEX TAX ABATEMENT AGREEMENT - Page 14
43821
OWNER'S CERTIFICATE
STATE OF TEXAS
COUNTY OF DENTON
BEING a 7.010 acre tract of land and being part ora 25.93 acre tract of land situated in the C.G.
Woolsey Survey, Abstract No. 1402, the Thomas B. Garvin Survey, Abstract No. 506, thc J.H.
Donald Survey Abstract No. 1696 and the W.M. Trimble Survey, Abstract No. 1268 in Dallas
County, Texas inclusive, and being a part of Lot 3, Block G of Vista Ridge Addition, an addition
to the City of Coppell, Texas, as recorded in Cabinet F, Page 271 of the Plat Records of Denton
County (P.R_De.C.T.), and being more particularly described as follows:
COMMENCING, at a 5/8-inch found iron rod with a cap stamped "CARTER, & BURGESS"
(hereinafter referred to as '~rith C&B cap") found at the northwesterly comer of a comer clip at
the intersection on the southeasterly right-of-way line of State Highway 121 (variable width
right-of-way) as dedicated by deed recorded in CC # 94-R0000002, (C.C.R.De.C.T) with the
westerIy right-of-way line of MacArthur Boulevard (120 foot right-of-way) same being the
northwesterly comer of the aforementioned 25.93 acre tract of land, same being on a circular
curve to the left, having a radius of 3,804.72 feet whose chord bears South 61 degrees 29 minutes
11 seconds West, a distance of 1,176.93 feet;
THENCE in Southwesterly direction, continuing along said southerly right-of-way line, and said
northerly line of said 25.93 acre tract of land, and said common city limit, curving to the left,
through a central angle of 17 degrees 47 minutes 42 seconds, an arc distance of 1,181.68 feet to
a 5/8-inch found iron rod with C&B cap, said point being the point oftangency of the
aforementioned curve.
THENCE South 52 degrees 35 minutes 20 seconds West, along said southerly right-of-way line,
same being the northerly line of said 25.93 acre tract of land, and said common city limit line, a
distance of 95.68 feet to THE POINT OF BEGINNING;
THENCE South 37 degrees 44 minutes 09 seconds East, departing said southerly right-of-way
a distance of 130.59 feet to a point for comer;
THENCE East a distance of 360.4I feet to a point for comer;
THENCE South a distance of 287.1 g feet to a point for comer;
THENCE South 89 degrees 05 minutes 26 seconds East a distance of 10I. 18 feet to a point for
comer;
THENCE South 50 degrees 54 minutes 38 seconds East a distance of 68.37 feet to a point for
comer, said point being on the northerly right-of-way line of Forrest Hill Drive (50 foot right-of-
way) as dedicated by deed recorded in Volume 97215, Page 4852 of the Deed Records of Denton
County (D.R.De.C.T.) same being on a circular curve to the left, having a radius of $37.60 feet
and whose chord bears South 51 degrees 09 minutes 09 seconds West, a distance of 49.67 feet;
THENCE in Southwesterly direction, continuing along said northerly right-of-way line, and
along said circular curve to the left, through a central angle of 03 degrees 23 minutes 54 seconds,
an arc distance of 49.68 feet to a 5/8-inch found iron rod with C&.B cap for corner, said comer
being on said noxtherly right-of-way line of Forrest Hill Drive, also being on the common line of
the south line of said 25.93 acre tract of land and the North line of Vista of Coppell Phase 1B
Addition as recorded m Volume 98043, Page 66 (D.R.D.C.T.);
THENCE North 89 degrees 05 minutes 26 seconds East, along said common line, a distance of
1,142.02 feet to a 1/2-tach found iron rod for comer, said comer being on said southerly fight-of-
way line of State Highway 121, same being the southwesterly comer of said 25.93 acre tract of
land, also being the common city limit line between the City of Lewisville, Texas and the City of
Coppell, Texas;
THENCE North 52 degrees 35 minutes 20 seconds East, along said southerly right-of-way line
of said State Highway 121, same being the northerly hne of said 25.93 acre tract of land, a
distance of 737.75 feet THE POINT OF BEGINNING and CONTAINING 305,366 square feet
or 7.010 acres of land more or less.
~Z~&fATE OFcerti~yEtXh~s~T-'' ~: a, raw re Invalid
~by ,n-ti 'm,',~t ~, COUNTY OF
tie, eon h~ ~L ........ ~ora~ of ~ai:as ~'2.'~ Ln tho VOlume
MAY G 2002
~ COU~ G~ Oa/la~ Count, T~
CITY OF COPPELL
255 PARKWAY BLVO
P 0 BOX"~ G "--!. "'l ~
COPPELL, TX 75019