ST9502-CN 960425P.O. Box 478
Coppell, Texas 75019
214-462-0022
April 25, 1996
The Parks of Coppell Trust
12221 Merit Drive, Suite 1750
Dallas, Texas 75251-2252
Attn: Harry M. Hargrave, Trustee
The AP of C VI Exchange Trust
c/o Jay S. Turner, P.C., Trustee
598 Denton Tap Road, Suite 106
Coppell, Texas 75019
Attn: Jay S. Turner, President
The HP of C VI Exchange Trust
c/o Jay S. Turner, P.C., Trustee
598 Denton Tap Road, Suite 106
Coppell, Texas 75019
Attn: Jay S. Turner, President
Gentlemen:
Reference is made to (i) that certain Construction Supervision Agreement (herein so called),
dated as of the 27th day of February, 1996, by and among The Parks of Coppell Trust, The AP
of C VI Exchange Trust, the HP of C VI Exchange Trust (the "Trusts") and the City of Coppell,
Texas (the "City"), pursuant to which, among other things, the City agreed to supervise the
construction of the North Spine Road (as defined therein); and (ii) that certain North Spine Road
Escrow Agreement (the "NSR Escrow Agreement"), dated as of the 27th day of February, 1996,
among the Trusts, the City and Jay S. Turner, P.C. ("Escrow Agent"), as escrow agent,
pursuant 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 the Escrow
Agent to be held by the Escrow Agent and disbursed by the Escrow Agent to the City to pay
the costs for the construction 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.
The Parks of Coppell Trust
The AP of C VI Exchange Trust
The HP of C VI Exchange Trust
April 26, 1996
Page 2
To simplify dealings with the contractor which will construct the North Spine Road, the City has
requested the Trusts to authorize the Escrow Agent 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
accordance with the North Spine Road Plans (as defined in the Construction Supervision
Agreement) 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 the Trusts' Contribution.
To accommodate the City's request, the Trusts by their execution of this letter hereinbelow
authorize and instruct the Escrow Agent 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 Spine
Road in accordance with the North Spine Road Plans in excess of the Trusts' Contribution. The
Trusts will provide executed copies of the right-of-way documents for the west half of the North
Spine Road to be filed with Dallas County by the City of Coppell.
The Trusts and the City all agree: (i) that the City is not required to deposit with the Escrow
Agent the $310,877.95 required to be deposited with the Escrow Agent by the City pursuant to
the NSR Escrow Agreement; (ii) the NSR Escrow Agreement shall lapse and become null and
void; and (iii) the Construction Supervision Agreement shall remain in full force and effect, but
shall be amended automatically whenever necessary to effectuate and comply with the terms and
conditions contained in this letter, including, by way of example and not limitation, deletion of
reference 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 the City· Upon the execution of this letter by the Trusts and the City,
the terms and conditions contained in this letter shall be binding upon and inure to the benefit
of the Trusts and the City and their respective successors and assigns.
Very truly yours,
OF CO PELL, TEXAS
CITY
By
· , ity Manager
The Parks of Coppell Trust
The AP of C VI Exchange Trust
The HP of C VI Exchange Trust
April 26, 1996
Page 3
Disbursement Authority
Granted to the Escrow Agent
and the Terms and Conditions
Contained in this Letter
Agreed To:
THE PARKS OF COPPELL TRUST
By /,. ~; ....~ ,,"-~ / '~-"~--f.', ~"~'--""~
Harry ~ r~ra~,e' Trustee~L'/
· {,y[ ' ~,.,.
THE AP OF C VI EXCHANGE TRUST
Jay S. Turner, P.C., Trustee
By ~. '~','~nt
THE HP OF C VI EXCHANGE TRUST
Jay S. Turner, P.C., Trustee
By (~~.~~dent