ST9502-CS 960418CABLr., JWAL
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TEL£C;OPIrFI-(,P,;4.~ 953-5,8~z*
JACKSON & WALKv'FR, L,L.P.
ATTORNEYS AND COUNSELORS
9,0I MAIN
5ul'rE 6000
DALLAS, T[XA,~
(214) 9~3.-6000
OTHcR LOC^.?ION5
HO L,J 5TO N
FORT WOIqTH
SAN ANTONIO
l~eh,,~l M. Dooley
April 18, 1996
VtA TKLECOPY 304-3570
Mr. Ken Griffin
City Engineer
Assistant City Manager
City of Coppell
P. O. Box 478
Coppell, Texas 75019
RE: North Spine Road
Dear Ken:
In conn~don with the City of Coppe!l's request to obtain an "up-front" payment from
The Parks of Copper Trust, The AP of C VI Exchange Trust and The HP of C VI Exchange
Trust of $133,336.30 rattler ,h~n receiving progress payments through an escrow arrangement,
attached is a proposed draft of letter to accomplish such request.
By copy of thi.~ letter, I am telecopying additional counterparts of the attached'to
Mr. Harry M. Hatgrave, Peter G. Smith, Esq. and Say S. Turner, Esq.
If you or any of Messrs. Hargrave, Smith or Turner have any questiota concerning the
attached, please feel free to contact me.
Very_truly yours,
Richard M. Dooley
RMDtam
Rnc|osu.re
Mr. Ken Griffin
April 18, 1996
Page 2
Mr. Harry M. liargrave (w/eric.) - VIA TELECOPY 233-!S881
Peter G. Smith, Esq. (w/eric.) - VIA TELECOPY 96.~0010
Jay S. Turner, Esq. (w/eric.) - VIA TELECOPY ;t93-~926
LO/£O'd
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[City of Coppell Leaerheadl
The Parks of Coppell Trust
12221 Merit Drive, Suite 1750
Dallas, Texas 75251-2252
Attn: Hart7 M. Hm'grave,
Th~ AP of C VI Bxchange Trust
c/o Jay S. Turner, P.C., Trustee
598 Denton Tap Road, Suite 106
Coppell, Texas 75019
Arm: Jay S. Turner,
President
April ,1996
The I-[P of C VI Exchange Trust
c/o JayS, Turner, P.C.,Tntstee
598 Denwn Tap Road, Suite 106
Coppert, Texas 75019
Arm: Jay S. Turner,
Presidem
Referenc~ is m~d_e to: (i) that certain Construction Supervision Agreengnt (heroin so
called), dated as of the'Z'} day of ~ ,1996, by and among The Parks of Coppell
Trust, The AP of C VI Exchange Trust, ~e~C VI Exchange Trust (the *Trusts") ~_~_ t!~
City of Copl~ll, Texas (the "City"), pursuant to which, among other things, the City agreed to
supervise the construction of the North Spine Road (as defined thg~in); and (ii) t. hs_t certain
No pine Road Escrow Agreement (the 'NSR Escrow Agreement'), dated as of the Z'7 day
of ~.:~.r~6-1996, among the Trusts, the City and Jay S, Tungr, P.C, ("F, grow Agere"),
as escrow agent, pttrs~_.~_n_~ to which, among other things, the Trusts were to escrow $133,336,30
(the 'Trusts' Contribution") with the Escrow Agent and the City was to escrow $310,877.95
with tlg Escrow Agent W b~ held by the Escrow Agent and disbursed by tlg Escrow Agent w
the City to pay the costs for the construgtion of the North Spine Road. The Escrow Agent
presently holds in escrow the Trusts' Contribution required to be deposited by the Trusts
pursuant to the NSR Escrow Agreement.
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The Parks of Coppell Trust
The AP of C VI Exchange Trust
The lIP of C VI Bxchange Trust
April _, 1996
Page 2
To simplify dealings with the contractor which will construct the North Spine Road, the
City has requestod thc Trusts to authorize the Escrow Agcnt to deliver the Trusts' Contribution
to the City prior to the time that such delivery would be required under the NSR Escrow
Agreement in consideration of the City's agreement to cause the completion of the North Spine
Road in accordanc~ with the North Spine Road Plans (as defined in the Construction Supervision
A~eemcnt) and the City's agreement to pay all of the costs to construct the North Spine Road
in accordance with the North Spine Road Plans in excess of th= Trusts' Connibution.
To accommodate the City's request, the Trusts by their execution of this letter
hereinbelow authorize and instruct the Escrow Agem to deliver to the City the Trusts'
Contribution held by the Escrow Agent as the Trusts' required deposit under the NSR Escrow
Agreement. In consideration of the Trusts granting the authority to the Escrow Agent to deliver
the Trusts' Contribution held by the Escrow Agent as the Trusts' required deposit under the NSR
Escrow Agreement to the City prior to the time that such delivery would be required under the
NSR Escrow Agreement, the City hereby agrees to cause the completion of the North Spine
Road in accordance with the North Spine Road Plans and to pay all costs to construct the North
Th~ Trusts and the City all agree: (i) that the City is not required to deposit with the ~'~F~~
Escrow Agent the $310,877.95 required to be deposited with the Escrow Agent by the City o~c-~
effect, but shall be amended automatically whenever necessary to effectuate and comply with the
terms and conditions contained in th!8 letter. including, by way of ex~.m__ple and not Hm__i_tation,
deletion of references to the NSR Escrow Agreement and deletion of any requirement of the
Trusts to deposit or pay any of the costs to construct the North Spine Road in accordance with
the North Spine Road Plans in excess of the Trusts' Contribution.
The terms and conditions of this letter shall become effective only upon the execution of
this letter by the Trusts and tl~ City. Upon the execution of this letter by the Trusts and the
City, fig tern and conditions contained in this letter shall be binding upon and L-,__,.~ to the
heneft of the Trusts and the City and their respective successon and assignS.
LO/SO'd OLS£PO£-6 Ol
The Parks of Coppell Trust
The AP of C VI Exchange Trust
The I-]P of C VI Exchange Trust
April ,1996
Page 3
Very truly yours,
CITY OF COPPFIJ ,, TEXAS
· Disbursement Authority
Granted to the Escrow Agent
and the Terms and Conditions
Contained in this Letter
Agreed To:
THE PARKS OF COPP~.t.t. TRUST
City Manager
By
M. Hargra ,
Trustee
THE AP OF C VI EXCHANGE TRUST
By Jay S. Turn~r, P.C.,
Trustee
President
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The Parks of Coppell Trust
The AP of C VI Exchange Trust
The lIP of C VI Exchange Trust
April ,1996
Page 4
THE lIP OF C VI EXCHANGE TRUST
By layS. Turner, P.C.,
Trustee
By
Jay S. Turner,'
President
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