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Smart Start-CN 990310THE STATE OF TEXAS (,,,4v k- L.1)3 S l y SPECIAL WARRANTY DEED COUNTIES OF DENTON AND DALLAS I KNOW ALL MEN BY TRESS PRESENTS THAT, CENTEX DEVELOPMENT COMPANY, a division of Centex Homes, f /k /a Vista Partners, a Nevada general partnership ( *Grantor "), for and in consideration of the sum of Ten and No /100 Dollars ($10.00) cash in hand paid by DENTON COUNTY LEVEE IMPROVEMENT DISTRICT NO. 1 ( *Grantee"), whose address is c/o Coats, Rose, Yale, Ryman 4 Lee, P.C., 1001 Fannin, Suite 800, Houston, Texas 77002 -6707, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by Grantor,has GRANTED, BARGAINED, SOLD, and CONVEYED, and by these presents does GRANT, BARGAIN, SELL, and CONVEY unto Grantee, the real property more particularly described on Exhibit "A" attached hereto, together with all improvements located thereon (the "Property *). This conveyance is being made by Grantor and accepted by Grantee subject only to all matters of record that affect the Property and subject to the reservation of rights set forth in Exhibit *B" attached hereto and made a part hereof for all purposes. TO HAVE AND TO HOLD the Property, together with, all and singular, the rights and appurtenances thereto in anywise belonging, to Grantee and Grantee's heirs, executors, administrators, legal representatives, successors, and assigns forever; and subject to the reservation of rights set forth on the attached Exhibit *B*, Grantor does hereby bind Grantor and Grantor's heirs, executors, administrators, legal representatives, successors, and assigns to warrant and forever defend, all and singular, the Property unto the Grantee and Grantee's heirs, executors, administrators, legal representatives, successors, and assigns, against every person whomsoever lawfully claiming or to claim the same, or any part thereof by, through, or under Grantor, but not otherwise. Grantee acknowledges that, except for the special warranty of title contained in this Deed and except for any representations, warranties, or obligations of Grantor and Grantee that otherwise survived the closing of the transaction represented by this Deed: (1) Grantee acknowledges and agrees that none of Grantor or its agents or representatives has made any representations or warranties as to the Property or its environmental or physical condition upon which Grantee has relied; T06 \106042.3 \8ND3182 0 (2) Grantee acknowledges and agrees that GRANTOR HAS NOT MADE, DOSS NOT MAKE, AND EXPRESSLY DISCLAIMS, ANY WARRANTIES, REPRESENTATIONS, COVENANTS OR GUARANTEES, EXPRESSED OR IMPLIED, OR ARISING BY OPERATION OF LAW, AS TO THE MERCHANTABILITY, HABITABILITY, QUANTITY, QUALITY, OR ENVIRONMENTAL CONDITION OF THE PROPERTY OR ITS SUITABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OR USE; (3) Grantee acknowledges and agrees that it has thoroughly investigated and thoroughly inspected the Property and is familiar and satisfied with all aspects of the physical condition of the Property and has made its own determination as to the merchantability, habitability, quantity, quality and condition of the Property, including, without limitation, the possible presence of Hazardous Materials at, on, in, or under the Property and the Property's suitability or fitness for any particular purpose or use; (4) Grantee unconditionally accepts the Property in it present condition on an "AS IS ", "WHERE IS" and "WITH ALL FAULTS ", including environmental, basis, and acknowledges that without this unconditional acceptance the sale of the Property would not be made and that Grantor shall be under no obligation whatsoever to undertake any repair, alteration, remediation or other work of any kind with respect to any portion of the Property; (5) Grantee, and Grantee's successors and assigns, expressly and unconditionally release Grantor and Grantor's affiliates, successors, and assigns from any and all responsibility, liability, obligations, and claims (whether known or unknown, apparent, non- apparent, or latent, and whether existing prior to, at, or after the date of this Deed) that Grantee and its successors and assigns may now or hereafter have against Grantor and Grantor's affiliates, successors, and assigns based, in whole or in part, upon the presence of Hazardous Materials at, on, in, or under the Property, including, without limitation, any obligation to take the Property back or reduce the Purchase Price and including any actions for contribution or indemnity; and (6) The term "Hazardous Materials" as used in this Deed means any substances (a) the presence of which requires reporting, investigation, or remediation under any current federal, state, or local statute, regulation, or ordinance or (b) which are currently defined as hazardous waste, hazardous substances, toxic substances, regulated substances, pollutants, or contaminants under any current federal, state, or local statute, regulation, or ordinance. 7= \106"2.318W3102 2 4 EXECUTED to be effective the 11 4-A day of Fel. ruark , 1999. GRANTOR: 4 ACCEPTED AND AGREED: CENTEX DBV$LOPMENT COMPANY, a division of Centex Homes f /k /a Vista Partners, a Nevada general partnership Hy: Name: Its: 49&4r, G DBNTON COUNTY LEVEE IMPROVEMENT DISTRICT NO. 1 THE STATE OF TEXAS COUNTY OF DALLAS This i tru nt was acknowledged before me on 0l"t ``• 1999 by f - ttn .V. C � . Center o Development Company, a Sion of Centex Homes E /k /a Vista Partners, a Nevada general rtner hip in the capacity therein stated on behalf of said coy. / (SEAL) T 8 X A S JOUV L METCALF My caft !R 094M T00 \106044.3 \81 3182 Name Fr ncea or - iwea My commission expires:� ,�jZ 3 s P1U4 ary Public in ang for the State of T E X A S (SEAL) B Name Printed or Typ ed ea My commission expires: kV ab0Ma1am 4 TW \10s042.3\8W3I82 4 THE STATE OF TEXAS § COUNTY OF DW+Ca ► !� This instrument was acknowledged before me on F . 1999 by 9 a n f Denton County Levee Improvement District Na. 1 a political subdivision, on behalf of said subdivision.