RE 2001-12-11.2 RECEIVED
HAY 3 0 2002
RECORDS C _E N.T...E I~.
RESOLUTION NO. 2001-1211.2
$37.00
_ .O~/.O~z/O;~ 3
A RESOLUTION OF THE CITY OF COPPELL, TEXAS, APPROVING THE
TERMS AND CONDITIONS OF AN AMENDED AND RESTATED TAX ABATEMENT
AGREEMENT BY AND BETWEEN THE CITY OF COPPELL, TEXAS AND DESERT
COPPELL LLC; AUTHORIZING ITS EXECUTION BY THE MAYOR; AND
PROVIDING AN EFFECTIVE DATE.
WRF~REAS, the City Council has been presented a proposed Amended and iRestated Tax
Abatement Agreement by and between the City of Coppell, Texas and Desert Coppell LLC, a copy
of which is attached hereto and incorporated herein by reference; and
WREREAS, 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:
SECTION 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.
SECTION 2. The City Council finds that the improvements proposed to be buik upon the
Premises described in 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.
SECTION 3. The tax abatement to be granted by the Agreement will not include inventory
and supplies.
SECTION 4. The improvements proposed for the Premises will accomplish the tax
abatement guidelines of the City of Coppell, Texas.
I 44625
SECTION 5. The City Manager delivered to the presiding officer of the governing body of
each taxing unit in which the property subject to the Agreement is located, a written notice that the
City of Coppell, Texas, intends to enter into the Agreement. The notice given by the City Manager
included a copy of the Agreement approved by this Resolution.
SECTION 6. This Resolution and the Amended and Restated 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.
SECTION 7. 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 11th day of December 2001·
CITY/~OPPELL,~ ~
CANDYY SHEEHAN, MAYOR
ATTEST:
· LIBBY BAll, CITY SECRETARY
PETER G. SMITH, CITY ATTORNEY
2 44625
05365
STATE OF TEXAS
COUNTY OF DALLAS
AMENDED AND RESTATED
TAX ABATEMENT AGREEMENT
This amended and restated tax abatement agreement (the "AGREEMENT") is entered into
bv and between the City of Coppell. Texas (the "CITY"), a Home Rule City and municipal
corporation of Dallas County. Texas. dun acting herein by and through its Mayor, Desert Coppell
LLC ("OWNER"), acting bv and tln'ough its respective authorized officer.
WITNESSETH:
WHEREAS. the CITY and DFW Trade Center I Limited Partnership ("DFW") previously
entered into that certain tax abatement agreement dated December 8. 1998, (the "ORIGINAL
AGREEMENT"); and
WHEREAS. DFW has sold. transferred, and conveyed the real property, and
improvements, the subject of the ORIGINAL AGREEMENT, to OWNER, and has with the
consent of the CITY assigned thc ORIGINAL AGREEMENT to OWNER; and
WHEREAS. thc CITY does hereby consent to the assignment of the ORIGINAL
AGREEMENT to OWNER: and
WHEREAS. the parties desire to amend and restate the ORIGINAL AGREEMENT as
set ~brth herein: and
WHEREAS, the Chapter 312 or' the Tax Code ("TAX CODE") authorizes the parties to
amend the ORIGINAL AGREEMENT: and
WHEREAS, a copy of this AGREEMENT has been ktrnished, in the manner prescribed
by the TAX CODE. to the presiding of}qcers of the governing bodies of each of the taxing units in
which the PREMI~lW~
NOW, THEREFORE, in consideration o£ the mmual benefits and promises contained
herein and fbr good and other valuable consideration, the adequacy and receipt of which is hereby
ackno~vledged, 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:
AMENDED ,AND RESTATED FAX .\BATEMENT
AGREEMENT FOR DFW TR,\DE CENTER BUILDING F - Pnge 1
44606
GENERAL PROVISIONS
1. OWNER is the owner of that real property described in Exhibit "A" attached hereto
and made a part hereof Ibr all purposes (the "LAND"), which LAND is located within the city
limits of the CITY and within the ZONE.
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 an3' 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 attthorized by the TAXi: 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 provides that the
combined TAXABLE VALUE ~br the IMPROVEMENTS and TANGIBLE PERSONAL
PROPERTY is at least Five Million Five Hundred Thousand Dollars ($5,500,000) as of January 1,
of the FIRST YEAR OF ABATEMENT and as of January 1 of each year thereafter for a period
of four (4) consecutive years, the CITY hereby grants OWNER an abatement of seventy-five
percent (75%) of the TAXABLE VALUE of the IMPROVEMENTS and the TANGIBLE
PERSONAL PROPERTY located on the PREMISES for a period of five (5) years. The actual
percentage of taxes subject to abatement for each year of this AGREEMENT will apply only to
the portion of the taxable value of the IMPROVEMENTS that exceeds TAXABLE VALUE of
the IMPROVEMENTS for tb_e year in which this ORIGINAl, A~RF. FMFNT was executed
(base year/1998). The tax abatement agreement fbr TANGIBLE PERSONAL PROPERTY will
only apply to the TANGIBLE PERSONAL PROPERTY added to the PREMISES after the
ORIGINAL AGREEMENT was executed.
7. The period of tax abatement herein authorized shall be fbr a period of five (5) years.
8. During the period of tax abatement herein authorized, OWNER 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.
AMENDED AND RESTATED TAX ABATEMENT
AGREEMENT FOR DFW TRADE CENTER BU1LDING F Page
44606
06367
DEFINITIONS
9. Wherever used in this AGREEMENT, the following terms shall have the meanings
ascribed to them:
A. "LAND" shall mean the real property, described on Eyahibit "A" attached
hereto and incorporated herein.
"1 REMISES shall collectively mean the LAND and IMPROVEMENTS.
C. "IMPROVEMENTS" shall mean Building "F", the contemplated
improvements described herein located on the LAND and as further described in the plans
submitted to the CITY. including but not linfited to buildings, structures, but excluding the
TANGIBLE PERSONAL PROPERTY.
D. "TAXABLE VALUE" shall mean the appraised value as certified by the
Appraisal District as of January l of a given year.
D. "BASE YEAR" shall mean the year in ~vhich the ORIGINAL
AGREEMENT was executed (1998).
E. "FIRST YEAR OF ABATEMENT" shall be January 1 of the calendar
year immediately l'bllowing the issuance of a certificate of occupancy for the
IMPROVEMENTS (January I. 2000).
F. "TANGIBLE PERSONAL PROPERTY" shall mean tangible personal
property, equipment and fixtures, other than inventory, or supplies, added to the
PREMISES subsequent to the execution of the ORIGINAL AGREEMENT.
G. "EVENT OF BANKRUPTCY OR INSOLVENCY" shall mean the
dissolution or termination of OWNER's existence as a going business, insolvency,
appointment c~t' -~ceive,' tbr om: part nf OWNER'~ prnpe~y arid s~ch appointment is not
terminated ~vithin thirty (30) days after such appointment is initially made, any general
as$ig.mnent tbr the bencli~ of' creditors, or the commencement of any proceeding under
any bankruptcy' or insolvency laws bv or against OWNER and such proceeding is not
dismissed within thirty i30) days after the filing thereot:
IMPROVEMENTS
10. OWNER is predecessor and agrees to construct or cause to be constructed Building
"F" on the LAND an ol'fice/xvarehouse/facility consisting of approximately 493,679 square feet
(and other ancillary facilities such as required parking and landscaping more fully described in the
submittals filed by O'¢,'NER with the CITY fi'om time to time in order to obtain a building permit)
AMENDED AND RESTATED TAX ,\BATEMENT
AGREEMENT FOR DFW TRADE CENTER BUILDING F - Page 3 44606
88 0,5368
(the "IMPROVEMENTS"). The cost of the IMPROVEMENTS should be approximately Ten
Million Dollars ($10,000,000). The approximate location of the IMPROVEMENTS will be
shown on a Site Plan of the PREMISES to be submitted to the CITY. The TAXABLE VALUE
of the IMPROVEMENTS, excluding the LAND shall be at least Ten Million Dollars
($10,000,000) as of January 1 or' the FIRST YEAR OF ABATEMENT and as of January 1 of
each year thereafter for a period of four (4) consecutive years. Nothing in this AGREEMENT
shall obligate OWNER to construct IMPROVEMENTS on the LAND or to 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 is predecessor diligently and faithfully, in good and workmanlike
manner, pursued completion of the contemplated IMPROVEMENTS on or before December 31,
1999, as good and valuable consideration for this AGREEMENT, and that all construction of the
IMPROVEMENTS would be in accordance with all applicable state and local laws, codes, and
regulations, (or valid waiver thereof).
12. OWNER agrees to maintain the IMPROVEMENTS during the term of this
AGREEMENT in accordance with all applicable state and local laws, codes, and regulations.
13. OWNER agrees to provide to any other applicable 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 other applicable tenants of the PREMISES.
14. The CITY. its agents and employees shall have the right of access to the
PREMISES during construction to inspect the IMPROVEMENTS at reasonable times and with
reasonable notice to OWNER. and in accordance with OWNER'S visitor access and security
policies, in order to insure that the construction of the IMPROVEMENTS are in accordance with
this AGRIiTFMENT nad atl .qpplicah!e qtato a~qd lacal laws and regulations (or valid waiver
thereof).
GENERAL REQUIREMENTS
15. Construction plans for the IMPROVEMENTS constructed on the LAND will be
filed with the CITY. The plans for such IMPROVEMENTS as filed shall be deemed to be
incorporated bv reference herein and made a part hereof for all purposes.
16. OWNER agrees fi'om the date a certificate of occupancy is issued until the
expiration of this AGREEMENT to continuously operate and maintain the PREMISES as an
AMENDED AND RESTATED TAX ,,\BATE*lENT
AGREEMENT FOR DFW TRADE CENTER BUILDING F - Page 4
44606
office/warehouse/distribution facility, in compliance with all applicable federal, state and local
laws.
17. After completion of the IMPROVEMENTS, OWNER shall certify in writing to
the CITY the construction cost of the IMPROVEMENTS. OWNER shall mmually certify to the
CITY that it is in compliance with each term of the AGREEMENT.
18. 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 xvithin the ZONE.
DEFAULT: RECAPTURE OF TAX REVENUE
19. In the event OWNER: (i) fails to cause completion of the IMPROVEMENTS in
accordance with this AGREEMENT or in accordance with applicable State or local laws, codes or
regulations; (ii) has any delinquent ad valorem or sales taxes owed to the CITY (provided
OWNER retains its right to timely and properly protest such taxes or assessment); (iii) upon the
occurrence of any "EVENT OF BANKRUPTCY OR INSOVENCY"; or (iv) breaches any of
the terms and conditions of this AGREEMENT, then OWNER, 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 deI'ault. OWNER shall. ~vithin 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 xvith interest at the statutory rate for delinquent taxes as determined by Section 33.01 of
the T,&,X 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 property taxes, including interest as a result of this AGREEMENT, shall be
recoverable against OWNER. its successors and assigns and shall constitute a tax lien on the
PREMISES and the TANGIBLE PERSONAL PROPERTY and shall become due, owing and
shall be paid to the CITY within thirty (30) days after termination.
1 yon b~eacb hv OWNER nf any ob!i?tious under ~this AGREEMENT, the CITY
shall notify OWNER in writing. OWNER shall have thirty (30) days from receipt of the notice in
which to cure aa~y such delhulr. If the de~timlt cmmot reasonably .be cured wifl~in fl~e thirty, (30) da),
period, and OWNER 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 for an
additional thirty (30) days.
21. If OWNER l~ils 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 AGREE31ENT by written notice to OWNER.
AMENDED AND RESTATED TAX \BATEMENT
AGREEMENT FOR DFW TRADE CI!NTER BUILDING F - Page 5
44606
06370
22. Upon termination of this AGREEMENT by CITY all abated taxes 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 taxes 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 taxes for the purposes of the
AGREEMENT shall be based upon the full TAXABLE VALUE without ta,x abatement for the
years in which tax abatement hereunder was received by OWNER with respect to the
IMPROVEMENTS and TANGIBLE PERSONAL PROEPRTY, as determined by the
Appraisal District, multiplied bv the tax rate of the years in question, as calculated by the City Tax
Assessor-Collector. The liquidated dalnages shall incur penalties as provided for delinquent taxes
shall commence to accrue after expiration of the thirty (30) day payment period.
ANNUAL APPLICATION FOR TAX EXEMPTION
23. It shall be the responsibility of OWNER pursuant to the TAX CODE, to file an
annual exemption application ~brm with the Chief Appraiser for each appraisal district in which the
eligible taxable property has situs. A copy of the exemption application shall be provided to the
CITY upon request.
24. OWNER shall mmually render the value of the IMPROVEMENTS and
TANGIBLE PERSONAL PROPERTY located on the PREMISES to the Appraisal District and
upon request provide a copy or' the same to the CITY.
SUCCESSORS AND ASSIGNS
25. This AGREEMENT shall be binding on and inure to the benefit of the parties to it
and their respective heirs, executors, administrators, legal representatives, successors, and assigns.
This AGREEMENT may be assigned with the consent of the CITY.
NOTICE
26. All notices required bv this AGREEMENT shall be addressed to the following, or
other such other pm'ty or address as eill~er party desig_uates in writing, bv certified mail, postage
prepaid or by hand delivery:
If intended for OWNER. to:
Desert Coppell LLC
C/O Spears Manut'acturing Co.
Attn: Kenneth E. Rugglcs. Chief Financial Officer
P.O. Box 9203
Sylmar. Califbrnia 91392
AMENDED AND RESTATED TAX :\BATEMENT
AGREEMENT FOR DFW TRADE CENTER BUILDING F - Page 6
44605
88 06371
If intended l:br CITY. to:
City of Coppell. Texas
Attn: City Manager
P. O. Box 478
Coppell. Texas 75019
With Copy to:
Peter G. Smith
Nichols. Jackson. Dillard. Hager & Smith
1800 Lincoln Plaza
500 North Akard
Dallas. Texas 75201
CITY COUNCIL AUTHORIZATION
27. This Agreement was authorized by resolution of the City Council approved by its
Council meeting authorizing the Mayor to execute this AGREEMENT on behalf of the CITY.
SEVEILa. BILITY
28. 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 ent:brceable
and shall be entbrced as ii' the parties intended at all times to delete said invalid section, subsection.
paragraph, sentence, phrase or word.
APPLICABLE LAW
29. This AGREEMENT shall be construed under the laxvs 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 perlbrmable in Dallas County, Texas.
COUNTERPARTS
30. 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
31. This AGREEMENT embodies the complete agreement of the parties hereto.
superseding all oral or xxritten previous and contemporary agreements between the parties and
AMENDED AND RESTATED TAX :\BATEMENT
AGREEMENT FOR DFW TRADE CENTER BUILDING F - Page 7 44606
06372
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.
32. The provisions of this AGREEMENT are hereby declared covenants running with
the PREMISES and are fi. dly 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 per:tbn'n the provisions of this AGREEMENT with respect to the
right, title or interest in such property.
RECORDATION OF AGREEMENT
33. A certified copy' of this AGREEMENT shall be recorded in the Deed Records of
Dallas County. Texas.
INCORPORATION OF RECITALS
34. The determinations recited and declared in the preambles to this AGREEMENT
are hereby incorporated herein as par[ of this AGREEMENT.
EXHIBITS
35. All exhibits to this AGREEMENT are incorporated herein by reference for all
purposes wherever reference is lnade to the same.
CONSTRUCTION
36. 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. OWNER acknowledges that it has obtained legal counsel to assist in the
preparation ofthi~ .AGRFF, MENT and that OWNER has fully satisfied itself, without warrantv
or representation not expressly contained herein, by CITY that the tax abatement contemplated
herebv is available in all respects.
AMENDED ,4.ND RESTATF~D TAX \BATEMENT
AGREEMENT FOR DFW TRADE CENTER BUILDING F - Page 8
44606
EXECUTED in duplicate originals this the 13th day of Dec., 2001.
ATTEST:
CITY OF C~PPELL, TEXAS/7
By: CANDY SHEEHAN. MAYOR
LIBBY BALL, CITY SECRETARY
PETER G. SMITH, CITY ATTORNEY
EXECUTED in duplicate originals this the 30th day of Nov. , 2001.
DESERT COPPELL LLC
KENNETH E. RUGGLES
CHIEF FINANCIAL OFFICER
AMENDED AND RESTATED TAX ABATEMENT
AGREEMENT FOR DFW TR,\DE CENTER BUILDING F - Page 9
44606
CITY'S ACKNOWLEDGMENT
STATE OF TEXAS §
COUNTY OF DALLAS §
200 ~ , by Candy Sheehan. Mayor of the City. of' Coppell, Texas. a Texas municipality, on behalf'
of said municipality.
Ivly Commission Expires:
AMENDED AND RESTAq ED TAX .\BATEMENT
,AGREEMENT FOR DFW TR..\DE CENTER BUILDING F - Page 10
44606
z~zO 88 0,5375
OWNER'S ACKNOWLEDGMENT
STATE OF C,4/_~F:r>,&/~/,,~ §
COUNTY OF/,gS~ ~TJd~/x/'-~
This instrument was acknowledged bel:bre me on the z3d)'7-7'/ day of//[jd~;et~tF3fftr~,
200~_, by Kenneth E. Ruggles. Chief Financial OftScer of Desert Coppell LLC, a Texas limited
liability company.
Nota/y Public, State of (.~
My Commission expires:
Commission # 1304850
Los Angeles Coun~
AMENDED AND RESTATED TAX .\BATEMENT
AGREEMENT FOR DFW TRADE CL-NTER BUILDING F - Page
446O6
06376
EXHIBIT A
STATE OF TEXAS:
COUNTY OF DALLAS:
WI-tEXAS DFW 'f'~DE CE'~T~~D PARTNERSHIP, a T~xu 1~ _m.!~cl partnership is th~
ow~r ora 22.$13 acre tract of land It{coted in the Cities of Grapevine and Coppeil, Dallas County,
Text, situated ia the B.B,B. & C.tLR. Company Survey, Ab~racz No. I772, the H. Tua'~er Survey,
Abstract No. 1796 a.~d the P~er Harmonson Survey~ Abstract No, 179~ arict being a portion of a L 80.0~3
acr~ tra~t of laird ~ ~sm'ib~d ha deed to DF'N Trade Center I Limited Parmgrship, a Tex~ llmi~ed
pax~p r~cord~:l in Voltmae 9625 I, Page 0~235 of the Deed P.~cotdz of Dallas County, Texas and
being more particularly described as follows:
CO~CING at & "X" ~ez on ~op of curb at the soutl:mrlymost comer clip point a~ the intersection of
the nort~ast~rly line of Freeport Parkway (variabI~ width Right-of-Way. Per Pl~t recorded ia Volume
96040, Page 2864 of~e Map l~ords of Dallas County, Texa~) ~dth the southm~terly line of Patrio~
Drive ('Voidable width Right-of-Way at rilis point - Per Plat r~corded in Volume 97167, Page 3012 of~le
Map l~,~eorci~ of Dalltts Coumy, Tax.as and ~so r~zorded in Cabinet N, Slide 275 of the Plat Reaords o£
De.on County. Texas);
THENCE N 03 °46'23" W, departing the northeasterly llne of said Fr~pm-t Parkway, alortg the
e.l'ly ~ of said Pal:riot Drive and said comer clip. a distance of 2tL~7 feat to a 1/2" iron rocl set a~
emgle point in the sour. beast line of said Palriot Driv~ (60' Pig. Ex-of-Way at thi~ point);
~CI~ N 41 =03'38" ]E, continuing along the southeast lin~ of said Patriot Ddve, a distam;e of $09.72
feet ~o a 1/2" iron rod se~ at the POINT of BEG~G of the hereLn described rrac~ of land;
TIIL-NCE aOoag thc sout. h~ast, soutIa a.~ sou?Jaw:~t ]iu~ of said Pau'iot Drive tll~ followla~;
N 41'03'38" E, a ctistance of 51.06 fe~t to a 1/2" iron rod set at the point of curvature ora
ciru'ular Ctlrve to th~ le~, havi~g a ra~s of 830.00 feet;
Northwardly, along !aid cirmllar curve to the [~f~, throug21 a central l_nMle of 14~02'11", an
an: distanc~ of20333 fe~t. amd ha~4ng a chord that bears N 34 °02'33" E. 202,83 fe:! to a
1/2" iron rod s-"~ s~ the point of tamg~nc¥;
N 27'01'28" E, a dist~ 0f 9.06 f~et to a 1/2" iron rod ~et at the poin~ of ~urvatur~ ora
¢iroulat curve to rJae ri~t, kaving a radiu~ of 770.00 feet;
Northeasterly: along said circular curve to the right, through a central angle of 14'02'10", au
arc distanoe of 188.6~ feet, and having a chord tht bec. rs N ~4 °0~'~" E, 188.1 ~ feet to a
1~" iron rod s~t at tho point oftangency;
N 41 ~05'3g" E, a dimnce of 1,020.25 f~et to a 1/2" iron rod sec;
N 86°08'40" E, a distance of 28.2a feet :o a 1/2" iron rod .,er;
S 48 °46'17" E, a distance of 24.16 fee: to a 1/2" iron rod ~et at the point of curvature of a
circular em-ye to the right, having a radius of 770,00 feet;
06377
$ou~toa.~erly, along zaid ~ix~ular ~urvo ro tho rigid, through a ~enwal ~gle of3~ °39'~4"~ an
arc distance of 479.23 feet, and having a ~hord that bears S 30°56'30'' E, 471.53 feetm a 1/2"
iron rod ~et ax ~ point of reverse curvatur~ ora ci~cul~ cur~c to ~te left haviag a rediu~ of
Soutimasterly, along sa/d ¢ireu/ar cur~ m the let, through a cea~al aagle oi~ 1'/"29'n3", an
arc clisumce of 253.44 feet, and haviag a chord ~a~ bears $ 21 ~$1'35" E, 2~2.46 feet to a 1/2'
iron rod
THENCE d~partiag :he southwest line of said Pa~o/Drive, traversing r.~ afor~nnen~ioaed DFW Trade
Cont~ I Limited Par~ership tract thc follo~w.~g:
$ 59"23'34" W, dep~ razz/ro ~e l:~viom circul~ curve to ~ le~ a diz:~ce of 15.00
feet to a I/2" iron rod set;
$ 41 °03'38" W, a distance of 1,213.17 feet to a [/2" ixon rod
N 48 '56'22" W, a distan:a of 662.71 f, et m th~ POINT of BEGINNInG, aad
980,686 sq~ feet or 22.513 ~res ofl~d.
06378
m/provision here n which restricts the sale, rental, m' use
e$cribed real propert'j because of co~or Or
race is Invalid
unenforceable under federal law.
,s~LE, ?L~,s,.,,..e., ~,~, ,,, co~ .o., o~,~
em on toe Oa[e and
~temped hereon by roe and was duly recorded in the volume
hereonPeEe Ofbytheme.named record~ of Dallas County Texas as
MAY 6 200Z
C RK, Dallas County,