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STATE OF TEXAS §
COUNTY OF DALLAS §
AGREEMENT
This Agreement is made and entered into by and between the City of Coppell, Texas (the
"CITY ") and Grand Land 96, L.P. ( "GRAND ").
RECITALS
WHEREAS, GRAND owns the property described in Exhibit "A" incorporated herein by
reference (the "PROPERTY "); and
WHEREAS, GRAND, or its predecessor in interest, submitted a final plat (the "PLAT ")
to and was approved by the CITY on September 9, 1996; and
WHEREAS, the PLAT showed an eighty foot (80') wide right -of -way for Coppell Road;
and
WHEREAS, GRAND has agreed to acquire an additional five foot (Y) right -of -way (the
"RIGHT -OF- WAY ") for the expansion of Coppell Road from William Callejo, Trustee, or to
reimburse the CITY for all reasonable costs of acquisition of the RIGHT -OF -WAY, including
all reasonable costs and attorneys fees if the CITY has to exercise its power of eminent domain
to acquire said RIGHT -OF -WAY; and
WHEREAS, GRAND has agreed to escrow with the CITY the sum of Twenty Thousand
Dollar ($20,000) as the estimated cost of the acquisition of the right -of -way;
NOW THEREFORE, for and in consideration of the covenants and promises set forth
herein and other valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:
1. GRAND agrees to pay all costs for the acquisition of the RIGHT -OF -WAY
including all reasonable cost; and attorneys fees if the CITY has to exercise its power of eminent
domain to acquire the RIGHT -OF -WAY.
2. Concurrent with the execution of this Agreement, GRAND agrees to place into an
escrow account with the CITY the total sum of Twenty Thousand Dollars ($20,000.00), such sum
representing the estimated cost of acquisition of said RIGHT -OF -WAY by condemnation.
GRAND shall not be obligated to pay more than $20,000.00 for the cost of acquisition of the
RIGHT -OF -WAY. In the event the City's costs of acquisition are less than $20,000.00, the
remaining amounts in the escrow account shall be reimbursed to GRAND.
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3. Notwithstanding Paragraph 2 above, if GRAND acquires the RIGHT -OF -WAY on
or before October 15, 1997, and provides the CITY with satisfactory title thereof, the CITY shall
refund the then remaining escrow fund to GRAND.
4. The CITY agrees upon receipt of the escrow fund to approve and accept the
subdivision governed by the Plat by acceptance letter and to timely process and issue all building
permit applications for single - family residences in the Village of Cottonwood Creek subdivision
in a normal manner and to release all building applications therefore.
5. The parties agree that except for hots 8 and 10 of Block B, no certificates of
occupancy shall be issued for the PROPERTY until (a) the RIGHT -OF -WAY is acquired either
by GRAND or the CITY, or (b) 120 days from the date of this Agreement, whichever occurs
first.
RECITALS
6. The Recitals to this Agreement are incorporated herein and made a part of this
Agreement for all purposes.
EXHIBITS
7. All Exhibits to this Agreement are incorporated herein and made a part of this
Agreement for all purposes.
GOVERNING LAW
8. This Agreement shall be governed by the law of the State of Texas; and venue for
any action shall be in the State District Court of Dallas County, Texas.
ENTIRE AGREEMENT
9. This Agreement contains the entire entertainment between the parties hereto and
shall be bindiiig on and inure to the benefit of such parties and their respective successors, heirs,
assigns, and legal representatives.
10. This Agreement may be amended only by the mutual written agreement of the
parties.
11. In the event any one or more of the provisions contained in this Agreement shall
for any reasons held to be invalid, illegal, unenforceable in any respect, such invalidity, illegality
and unenforceability shall not affect any other provision, and the Agreement shall be construed
as if such invalid, illegal or unenforceable provision had never been contained in it.
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12. Any Notioe, required or permitted to be delivered, herein shall be deemed received
when sent United States Mail, postage prepaid, certified mail, return receipt requested, addressed
to the CITY or GRAND as the case may be at the address set forth opposite the signature of the
party.
RECORDATION
13. A copy of this Agreement shall be recorded in the Deed records of the County in
which the PROPERTY is located. The provisions of this Agreement are hereby declared
covenant running with the property and are fully binding all successors, heirs and assigns of
GRAND who acquire any right, title, interest in or to the property, or any part therefore. Any
person who accrues any right, title, or interest in or to the property or any part thereof, thereby
agrees and covenants to abide by and fully perform the provisions of this Agreement.
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EXECUTF,D on this —�/— day of Septembcr, 1997, Dallas County, Texan.
CITY OF
Lain
WITT,
f MANAGER
255 Parkway Boulevard
P.O. Box 478
Coppell, Texas 75019
ATTEST:
I r3(3 AI--
- l� C f LL r CITY SECRETARY
APPROVED AS TO FORM:
PETER G. SMITH,
CITY ATTORNEY
APPROVED AS TO FORM:
ARTHUR I. ANDERSON
GRAND'S ATTORNEY
DA972520459
091197 A
179:17210.1
0
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