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Connell Skaggs-CN 861211AGREEMENT Skyhawk Venture, Mgr. TIILS AGREEMENT made between~Connell Development Co,~ (Connell) of Dallas County, Texas, and the City of Coppell, Texas,(City); WITNESSETH: manager WLiEREAS, Connell is the avata~sa of that tract of land shown on Exhibit 1, which said Exhibit is attached hereto and made a pact hereof for alI purposes; ar~d W1iEREAS, Connell has filed Exhibit 1 as a preliminary subdivision plat and the City Council of the City of Coppell has heretofore approved said preliminary subdivision plat subject to development of a drainage plan satisfactory to the City Engineer; and WfiEREAS, the original drainage plan requested by the City Engineer included the construction of a 10-foot by 8-foot single concrete box culvert (box culvert) along the west end of tt~e Connell tract as .shown on Exhibit 1 between Point A and Point B, said box culvert constituting the required improvement on said property necessary to handle the drainage across said property upon complete buildout and development of upstream properties and the Connell tract; and WIiEREAS, it has been determined that the box culvert if constructed et this point in lime would be deeper than the natural drainage area to the north (downstream) and would form a collecting reservoir until such time as the downstream property is developed with a similar connecting box culvert; and that this condition makes it not feasible to construct the box culvert on the Connell property until the box culvert can be extended to the north across property now owned by Mr, and Mrs. Boorhem immediately to the north and the Hinckley property immediately north of the Boorhem property; and WHEREAS, it appears that the Boorhem property, the Hinckley property, as well as Lot 3 shown on the Connell tract are not presently ready for development, but that Lots 1, 2 and 4 of the Connell tract are ready for present development; and WEiEREAS, engineering data supplied to tl~e City by Connell shows that the ' present development of Lots 1, 2 and 4 of the Connell tract will not require installation of the box culvert at this time and that drainage attributable to said Lots I, 2 and ~ (including present drainage from property upstream from the Connell tract) can be handled by using the existing channel located at the west side of the Connell tract, COPPELL/CONNELL AGREEMENT CK86-1211 -Page I and that said box culvert from Point A to Point B on Exhibit 1 will not be required until additional drainage is created by the development of Lot 3 and the development of properties upstream from the Connell tract; and V4[IEREAS, Connell has therefore requested the City to approve the final platting of its subdivision in two (2) phases, the first phase to include Lots 1, 2 and 4 and the second please to be comprised of Lot 3 on Exhibit 1; that said first phase be approved based upon Connell's engineering plan in regard to drainage, which provides that adequate site drainage may be accomplished by using the existing channel located at the west side of the Connell tract and that Phase Two consisting of Lot 3 of Exhibit 1 be approved subject to the drainage conditions hereinafter set out. NOW, THEREFORE, in consideration of the mutual covenants herein expressed, the parties agree as follows: 1. That Connell will amend its preliminary plat so that when it is presented for final plat approval it will be submitted in two (2) phases, each phase to constitute a separate and distinct final plat for recording purposes; that the City Engineer will, pursuant to directions from the City Council, approve such preliminary plat pursuant to the drainage plan set forth herein. Phase One shall consist of Lots 1, 2 and 4 as shown on Exhibit 1 attached hereto, and Phase Two shall consist of Lot 3 as shown on Exhibit 1. Provided, however, other language herein notwithstanding, Connell reserves t1~e right to submit the lots listed in Phase One as separate final plats for recording purposes as opposed to being limited to one single final plat. 2. Connell shall furnish to the City copies of its engineering report and engineering data evidencing that the existing drainage channel located at the west side of the Connell tract will provide adequate drainage after Phase One is fully developed and will not cause material damage to downstream property owners, including the property owned by Boorhem and Hinckley. Connell further agrees that Connell shall indemnify and save harmless the City of CoppelI, its officers, employees and agents from and against all losses and all claims, demands, payments, suits, actions, costs, and judgments of every nature and description COPPELL/CONNELL AGREEtYIENT CK96-1211 -Page 2 recovered against City resulting from storm water damage to properties downstream from said Connell tract or brought against City because of the approval of the subdivision plats mentioned herein and drainage plan, and Connell shall have the right to participate in any such litigation and to be represented by its own counsel. 3. Connell agrees to file a deed restriction in regard to the Phase Two property requiring that the owner of said property, prior to owner's request for the issuance of any building permit, shall construct the box culvert required by tl~e City if such be recomended to the City Council by the City Engineer, and place on the face of owner's subdivision plat a notice that said property is burdened with this obligation. Said deed restriction shall provide that such restriction may not be removed without first obtaining approval of the City Council of the City of Coppell, Texas. 4. Connell further agrees that it will upon approval of the final plat of Lot 2 or Lot 3, place in escrow with the Independent Bank of Coppell the sum of Three Hundred Forty-five Thousand Dollars ($345,000.00), or an irrevocable letter of credit in such amount (LC) to be issued to Connell by M Bank Dallas, same to be payable to City all upon the following terms and conditions: a. Said sum of money or (LC) to be held in escrow for use at a later time, such time to be determined at the sole discretion of the City Council of the City of Coppell, Texas, based upon recommendation of the City Engineer, for the construction of the 10-foot by 8-foot single concrete box culvert, described on Exhibit 2 attached hereto, from Sandy Lake Road to Willow Lane, which will carry the box culvert from Point A on Exhibit 1 through the Hinckley property to point C on Exhibit 1, said distance being approximately 566 feet across the Connell tract, 472 feet across the Boorhem tract and 196 feet across the Hinckley tract. In the event some other drainage plan is adopted to handle the drainage obligation of the Boorhem tract or the Hinckley tract City may at its discretion determine that the escrow fund is to be used only to construct the box culvert across the Connell tract and in such event the escrowed fund shall be used only COPPELL/CONNELL AGREEMENT CK86-1211 -Page 3 to tine extent necessary to construct the box culvert across the Connell tract. b. That the City of Coppell shall enter into a separate pro rata agreement with Connell, which will provide that if the escrow money is used to construct the box culvert beyond the Connell property and across the Boorhem and/or Hinckley properties, and if within 10 years thereafter, the Boorhem or Hinckley properties are subdivided or otherwise developed in such a way that would require the box culvert across their properties had it not already been constructed, the City will, before approval of any subdivision plat or the issuance of any building permit on the Boorhem property or Hinckley property, require the owners of said property to pay to the City such property's pro rata cost for construction of the box culvert determined in accordance with Exhibit 2 herewith, which said amount forthwith shall be reimbursed to Connell. c. Interest on said escrow deposit, if any, shall enure to the benefit of Connell and may be drawn down by Connell as it accrues. The cost estimate for the box culvert construction from Sandy Lake Road to Willow Lane, which will take it through the Hinckley property and which will form the basis of the pro rata agreement and cost per property owner based upon frontage of box culvert, is attached hereto as Exhibit 2 and made a part hereof for all purposes. d. Draws from the escrow deposit mentioned herein shall require signature of a representative of both Connell and City. Any portion of tl~e escrow deposit no required for the construction of the box culvert shall be returned to Connell forthwith upon conpletion of the construction hereof. 5. The term of this agreement is 15 years and if same shall not then have been fully performed shall expire. COPPELL/CONNELL AGREEMENT CK86-1211 -Page 4 6. This agreement is binding upon and shall enure to the benefit of all successors of each party hereto. EXECUTED this 11th day December, 1986. CITY OF COPP BY'----~ M r ATTEST: gy ,,~ i ty Secre ary SKYHAWK VENTURE, CONNELL D ELOPMEN CO, MGR. By .lJ.l~-~~ ~s~ Kevin C. Write Title Vice Presi~Pnt APPROVED• Ed Po0ve11, City Engine~r`GitY oI Goppeli, ~rexas Frank Trando, Acting City Manager, City of Coppe APPROVED AS TO FORM: ren a W. Jacks ity Attorney CK86-1211 COPPELL/CONNELL AGREEMENT CK86-1211 -Page 5 - ` ~ - ` ~y ._ 1 1 , ,, ` `\\ ~ 1 , ` i ~ --` 1 1 ~ ., ..,:,.~ AEI. 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No. 3354-85-I0-6 Connell Skaggs Addition December 5, 1986 COST ESTIMATES FOR BOX CIILYERT CONSTRIICTION ' FROM SANDY LAKE ROAD TO "WILLOW LANE" Length = 1234' Breakdown by Owner: Connell 566' 46°6 Boorhem 472' 386 Hinckley 196' 16% 10' x 8' Single Box Culvert Pre-Cast: (at $270/LF) Box Culvert $335,000.00 Upstream Transition 5,000.00 Downstream Transition 5,000.00 $345, 000.00 Cost Per Property Owner Based on Frontage of Box Connell .46 (345,000} _ $159,000.00 Boorhem .38 (345, 000) _ $131, 000.00 Hinckley .16 (345,000) _ $ 55,000.00 .,,:- t~. .';;' ~..r.. .._ I// `444 S ~~.t:. ~'~~~J~ *~ i :_~ J `. ~v ~ K 3354/WD1001 -. - - ~ _ _- '~' ~ t 3 ` s .:~. ` - _ - .~ K ~ .K `.".y f .~ ` .