Duke Lesley-CS070710
COUNTY OF DALLAS
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Economic Development Incentive Agreement
ST ATE OF TEXAS
This Economic Development Incentive Agreement (this "Agreement") is made by and
among the City of Coppell, Texas (the "City"), and Duke Realty Limited Partnership, an Indiana
limited partnership and Duke Constmction Limited Partnership, an Indiana limited partnership
(collectively, the "Company"), acting by and through their respective authorized officers.
WITNESSETH:
WHEREAS, the Company collectively owns 184.56 acres of the real property located at
the northwest comer of Belt Line Road and Interstate Highway 635E, more particular described
in Exhibit "A", attached hereto (the "Land"); and
WHEREAS, the Company intends to plat the Land into three or more lots, to sell a portion
of the Land and to construct on the remaining Land certain industrial and commercial buildings
(hereinafter collectively described as the "Improvements") generally as set forth in the Concept Plan
attached hereto as Exhibit "B"; and
WHEREAS, the Company intends to deed restrict at least five (5) acres of the Land for the
development and construction of a full service hotel (the "Hotel"); and
WHEREAS, the Company's efforts described herein will create permanent new jobs on the
Land; and
WHEREAS, the Company has advised the City that a contributing factor that would
induce the Company to acquire the Land, restrict a portion of the Land for the Hotel use and to
construct the Improvements would be an agreement by the City to provide economic
development grants to the Company; and
WHEREAS, the City has adopted programs for promoting economic development; and
WHEREAS, the City is authorized by TEX. Loc. GOV'T. CODE ~ 380.001 to provide
economic development grants to promote local economic development and to stimulate business
and commercial activity in the City; and
NOW THEREFORE, in consideration of the foregoing, and other valuable
consideration the receipt and sufficiency of which is hereby acknowledged, the parties agree as
follows:
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Article I
Term
The term of this Agreement shall begin on the last date of execution hereof ("Effective
Date") and continue until the Expiration Date, unless sooner terminated as provided herein.
Article II
Definitions
Wherever used in this Agreement, the following terms shall have the meanings ascribed to
them:
"Approved Franchise" means a franchise agreement with an Approved Franchisor
whereby the hotel operator is permitted to operate the Hotel as a full service hotel and conference
center using the name and reservation system of the Approved Franchisor.
"Approved Franchisor" means a national hotel franchisor, and for a specific hotel
product, approved by the City; provided, however, that the City shall not unreasonably withhold
its consent to a franchisor which is one of the fifteen (15) largest national or fifty (50) largest
international hotel chains as of such date. The City has approved Doubletree Hotels, Inc. as the
initial Approved Franchisor.
"Commencement of Construction" shall mean that: (i) the plans have been prepared and
all approvals thereof required by applicable governmental authorities have been obtained for the
respective Improvements or public infrastructure, as the case may be; (ii) all necessary permits
for construction of the respective Improvements or the public infrastructure, as the case may be,
pursuant to the respective plans therefore having been issued by all applicable governmental
authorities; and (iii) construction of the vertical elements of the Improvements or grading of the
Land in the case of public infrastructure, has commenced.
"Company" shall collectively mean Duke Realty Limited Partnership, an Indiana limited
partnership and Duke Construction Limited Partnership, an Indiana limited partnership.
"Completion of Construction" shall mean that: (i) the respective Improvements have been
substantially completed, and (ii) a certificate of substantial completion has been issued by the
general contractor(s) and/or architect(s) for the respective Improvements, and a copy of such
certificate has been delivered to the City.
"Effective Date" shall mean the last date of execution hereof.
"Event of Bankruptcy or Insolvency" shall mean the dissolution or termination of a party's
existence as a going business, insolvency, appointment of receiver for any significant part of such
party's property and such appointment is not terminated within ninety (90) days after such
appointment is initially made, any general assignment for the benefit of creditors, or the
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commencement of any proceeding lmder any bankruptcy or insolvency laws by or against such
party and such proceeding is not dismissed within ninety (90) days after the filing thereof.
"Expiration Date" shall mean the date which is ten (10) years from the Effective Date.
"Force Majeure" means any contingency or cause beyond the reasonable control of a
party including, without limitation, acts of God or the public enemy, war, terrorism, riot, civil
commotion, insurrection, criminal acts by unrelated third parties, government or de facto
governmental action (unless caused by acts or omissions of the party) adverse weather, fires,
explosions or floods, strikes, slowdowns or work stoppages.
"Grants" shall collectively mean the Infrastructure Grant, the Utilities Grant, the
Transportation Grant, Roadway Impact Fee Waiver and the Rollback Tax Grant.
"Hotel" shall mean a full service hotel containing at least 150 guest rooms including 8,000
square feet of conference and meeting space and restaurant facilities at which food and beverages
are prepared on site for at least three meals per day.
"Hotel Operator" shall mean the owner of the Hotel Site.
"Impositions" shall mean all taxes, assessments, use and occupancy taxes, charges,
excises, license and permit fees, and other charges by public or governmental authority, general
and special, ordinary and extraordinary, foreseen and unforeseen, which are or may be assessed,
charged, levied, or imposed by any public or governmental authority on the Company and/or
affecting the Land.
"Improvements" shall collectively mean: (i) one (1) industrial building containing a
minimum of approximately 850,000 square feet of space to be constructed on approximately 47.3
acres of the Land; (ii) one (1) industrial building containing a minimum of approximately
550,000 square feet of space to be constructed on approximately 38.6 acres of the Land; (iii) one
(1) industrial building containing a minimum of approximately 100,000 square feet of space to be
constructed on approximately 17.3 acres of the Land; (iv) one (1) office building containing a
minimum of approximately 120,000 square feet of space to be constructed on approximately 14.6
acres of the Land; and (v) three (3) office buildings each containing a minimum of approximately
100,000 square feet of space to be constructed on approximately 10.7 acres of the Land, all as
generally depicted on the Concept Plan.
"Infrastructure Grant" shall mean an economic development grant to reimburse Company
for expenditures for public infrastructure costs incurred and paid by Company for the Land in
accordance with plans to be approved by the City during the period from the Effective Date
through and including the date of Completion of Construction of the last building comprising the
Improvements in the amount of the lesser of: (i) the actual infrastructure costs incurred and paid
by Company; and (ii) $1,500,000.00, to be paid as set forth herein.
"Land" shall mean the real property described in Exhibit "A".
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"Payment Request" shall mean a written request from Company to the City for payment of a
Grant accompanied by copies of invoices, bills, receipts and such other information as may be
reasonably requested by City to document Company expenditures or other information required
for the respective Grant.
"Related Agreements" shall collectively mean the Tax Abatement Agreement and any
other agreement by and between the City and the Company, its parent company, and any
affiliated or related entity owned or controlled by the Company or its parent company relating to
the Land.
"Required Use" shall mean the operation of the Hotel as a full service hotel and conference
center and related amenities, open to the public and serving the adjacent business community and
the citizens of the City, under and in accordance with the standards of an Approved Franchise.
"Roadway Impact Fee Waiver" shall mean the waiver of the collection of roadway impact
fees to be assessed, if any, by the City against the Land in the amount of the lesser of the: (i)
actual amount of roadway impact fees assessed the Land; and (ii) $1,767,115.00, to be provided
as set forth herein.
"Rollback Taxes" shall mean the tax and/or penalty assessed against the Land, or portion
thereof, as the result of the removal of agricultural and/or open space land designation(s) for the
Land, or portion thereof, pursuant to Tax Code, Chapter 23 and collected by the City, from time
to time, during the term of this Agreement.
"Rollback Grants" shall mean periodic economic development grants in an amount equal
to the Rollback Taxes not to exceed $600,000.00 in the aggregate to offset a portion of the
Company's cost of development of the Land, to be provided as set forth herein.
"Tax Abatement Agreement" shall mean one or more tax abatement agreements by and
between the City and the Company for the Land and/or Improvements or portions thereof.
"Traffic Signal" shall mean a traffic control signal to be installed at the intersection of
Dividend and Beltline Road in accordance with plans to be approved by the City.
"Transportation Grant" shall mean an economic development grant in the amount of
$200,000.00 to reimburse the Company for expenditures for the costs of the design and
installation of the Traffic Signal, to be paid as set forth herein.
"Utilities" shall mean the design and constmction of certain water and sewer facilities on
the Land, including the looping of a 16" water line, in accordance with plans to be approved by
the City.
"Utilities Grant" shall mean an economic development grant to reimburse Company for
expenditures for the cost of the Utilities, incurred and paid by Company prior to Completion of
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Construction of the Improvements in the amount of the lesser of: (i) the actual costs of Utilities
incurred and paid by Company; and (ii) $1,500,000.00, to be paid as set forth herein.
Article III
Economic Development Grants
3.1 Grants. Subject to the Company's continued satisfaction of all the terms and
conditions of this Agreement, and the Company's obligation to repay the Grants pursuant to
Section 5.2 hereof, City agrees to provide the Company with Grants as set forth below:
(a) Rollback Grants. The City shall, during the term of this Agreement, provide the
Rollback Grants to the Company or any future owner of a portion of the Land, as applicable
within sixty (60) business days after receipt of a Payment Request following the City collection
of Rollback Taxes for such portion of the Land. The parties acknowledge and agree that, as
Rollback Taxes are assessed against the Land and collected by the City, the City shall provide the
Rollback Grants to Company or any future owner of a portion of the Land, as applicable, until
Company and such future owner has been provided Rollback Grants in the aggregate that total
$600,000.00. In the event Rollback Taxes are not assessed against the Land or collected by the
City or in the event the Rollback Taxes collected during the term of this Agreement are less than
$600,000.00, the City shall not be obligated to pay any such deficit amount to the Company. The
Rollback Grant shall be applied on a per acre basis.
(b) Transoortation Grant. The City shall provide the Transportation Grant to the
Company within sixty (60) business days after City's receipt of a Payment Request following the
approval of the plans for the design and installation of the Traffic Signal by the City.
(c) Utilities Grants. The City shall provide the Utilities Grants to the Company within
sixty (60) business days after delivery of a Payment Request to reimburse the Company for costs
incurred and paid by the Company for the design and installation and construction of the Utilities.
(d) Roadwav Impact Fee Waiver. The City agrees to provide to the Company the
Roadway Impact Fee Waiver. In the event roadway impact fees are not assessed against the Land
or in the event the actual roadway impact fees assessed against the Land are less than
$1,767,115.00, the City shall not be obligated to provide a waiver of any other City fees or
assessments imposed by the City or to pay such deficit amount to the Company in cash or
otherwise.
(e) Infrastructure Grant. The City shall provide the Infrastructure Grant to the
Company within sixty (60) business days after delivery of a Payment Request to reimburse the
Company for public infrastructure costs.
3.2 Current Revenue. The Grants made hereunder shall be provided solely from
lawfully available funds that have been appropriated by the City. Under no circumstances shall the
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City's obligations hereunder be deemed to create any debt within the meaning of any constitutional
or statutory provision. Consequently, notwithstanding any other provision of this Agreement, the
City shall have no obligation or liability to pay any Grants unless the City appropriates funds to
make such payment during the budget year in which such Grant(s) is payable. Further, the City
shall not be obligated to pay any commercial bank, lender or similar institution for any loan or
credit agreement made by the Company and lor Company. None of the City's obligations under
this Agreement shall be pledged or otherwise encumbered in favor of any commercial lender and/or
similar financial institution. The City represents to the Company that the City has made available
funds in the current budget year ending September 30, 2007 ("Current Budget Year")for the
Infrastructure Grant, Transportation Grant, Utilities Grant, Rollback Tax Grant and Roadway
Impact Fee Waiver. In the event that any of the Grants are not fully paid by the City during the
Current Budget Year, the City agrees to appropriate funds during each subsequent budget year until
all Grants are paid in full by City as required hereunder.
3.3 Thorousmfare Plan. The City agrees to the extent allowed by law to call the
necessary public hearing(s) to consider any necessary amendment to the City Major
Thoroughfare Plan and to cooperate with the Company in communication with and requesting
Texas Department of Transportation to permit a connector road from the Land to Interstate
Highway IH-635.
Article IV
Conditions to Grants
The obligation for the City to provide the Grants hereunder shall be conditioned upon the
Company's continued compliance with, and satisfaction of each of the conditions set forth
below:
4.1 The Company shall, as a condition precedent to the payment of a Grant, provide
the City with the respective Payment Request for the applicable Grant request.
4.2 The Company shall not have an uncured breach or default of this Agreement and/or
any of the Related Agreements.
4.3 The Company shall, subject to events of Force Majeure, cause Commencement of
Construction of at least 750,000 square feet of warehouse space under roof and at least 170,000
square feet of office space under roof comprising a portion of the Improvements to occur on or
before twenty-five (25) months after the Effective Date, and subject to events of Force Majeure to
cause Completion of Construction thereof to occur on or before ten (10) calendar years thereafter.
4.4 The Company shall impose and record covenants, conditions and restrictions or
other instrument in the deed records that require and restrict five (5) acres of the Land for the
development and construction of the Hotel prior to the City providing the first Grant hereunder in
a form approved in writing by the City Attorney (the "Hotel Deed Restriction").
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4.5 During the term of this Agreement, the Hotel Site shall not be used for any
purpose other than the Required Use and that the Hotel Operator shall not allow the operation
and occupancy of the Hotel and/or the Hotel Site in conformance with the Required Use to cease
for more than thirty (30) days except in connection with and to the extent of an event of Force
Majeure or a temporary closure of the Hotel for renovation purposes.
Article V
Termination
5.1 Termination. This Agreement shall terminate upon the occurrence of anyone or
more of the following:
(a) the execution by all parties of a written agreement terminating this
Agreement;
(b) the Expiration Date;
(c) by either party by written notice of termination to the other party, in the
event other party breaches any of the terms or conditions of this
Agreement and such breach is not cured within thirty (30) days after
written notice thereof; or
(d) by the City, upon written notice of termination if the Company suffers an
Event of Bankmptcy or Insolvency;
(e) by the City, upon written notice of termination if any Impositions owed to
the City or the State of Texas by the Company and/or Company shall
become delinquent (provided, however the Company retains the right to
timely and properly protest and contest any such Impositions) and such
delinquent Impositions are not paid within thirty (30) days after written
notice thereof; or
(f) by the City, upon written notice of termination, if any subsequent Federal or
State legislation or any decision by a court of competent jurisdiction declares
or renders this Agreement invalid, illegal or unenforceable;
5.2 In the event the Agreement is terminated pursuant to Section 5.1(c) or (d), by the
City, the Company shall immediately pay to the City an amount equal to the sum of all Grants paid
by the City to the Company immediately proceeding the date of such termination.
Article VI
Miscellaneous
6.1 Bindine Aereement: Assi2Dment. The terms and conditions of this Agreement
are binding upon the successors and permitted assigns of the parties hereto. This Agreement may
not be assigned without the prior written consent of the City Manager.
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6.2 Limitation on Liabilitv. It is understood and agreed among the parties that the
Company and the City, in satisfying the conditions of this Agreement, have acted independently,
and assume no responsibilities or liabilities to third parties in connection with these actions.
6.3 No Joint Venture. It is acknowledged and agreed by the parties that the terms
hereof are not intended to and shall not be deemed to create a partnership or joint venture among
the parties.
6.4 Authorization. Each party represents that it has full capacity and authority to
grant all rights and assume all obligations that are granted and assumed under this Agreement.
6.5 Notice. Any notice required or permitted to be delivered hereunder shall be
deemed received (i) three (3) days after deposit into the United States Mail, postage prepaid,
certified mail, return receipt requested, addressed to the party at the address set forth below or (ii)
on the day actually received if sent by courier or otherwise hand delivered.
If intended for City, to:
Attn: City Manager
City of Coppell, Texas
P.O. Box 478
Coppell, Texas 75019
With a copy to:
Peter G. Smith
Nichols, Jackson, Dillard, Hager & Smith, L.L.P.
1800 Lincoln Plaza
500 North Akard
Dallas, Texas 75201
If intended for Company, to:
Duke Realty Limited Partnership
c/o Duke Realty Corporation
14241 Dallas Parkway, Suite 1000
Dallas, Texas 75254
Attn: Jeffrey D. Turner
Telephone: 972-361-6704
Telecopy: 972-361-6802
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With a copy to:
Duke Realty Corporation
6133 North River Road, Suite 200
Rosemont, IL 600 18
Attn: Ann Dee, Market Attorney
Telephone: 847 232-5408
Telecopy: 847232-5694
Any party shall have the right to change its address for notice by sending notice of change of
address to each other party, in the manner described above.
6.6 Entire Ae:reement. This Agreement is the entire agreement between the parties
with respect to the subject matter covered in this Agreement. There is no other collateral oral or
written Agreement among the parties that in any manner relates to the subject matter of this
Agreement, except as provided or referred to in this Agreement or as provided in any Exhibits
attached hereto.
6.7 Governine: Law. This Agreement shall be governed by the laws of the State of
Texas; and venue for any action concerning this Agreement shall be in the State District Court of
Dallas County, Texas. The parties agree to submit to the personal and subject matter jurisdiction of
said court.
6.8 Amendment. This Agreement may only be amended by a written agreement
executed by all parties.
6.9 Lee:al Construction. In the event anyone or more of the provisions contained in
this Agreement shall for any reason be held to be invalid, illegal, or unenforceable in any respect,
such invalidity, illegality, or unenforceability shall not affect other provisions, and it is the intention
of the parties to this Agreement that in lieu of each provision that is found to be illegal, invalid, or
unenforceable, a provision shall be added to this Agreement which is legal, valid and enforceable
and is as similar in terms as possible to the provision found to be illegal, invalid or unenforceable.
6.10 Recitals. The recitals to this Agreement are incorporated herein.
6.11 Counterparts. This Agreement may be executed in counterparts. Each of the
counterparts shall be deemed an original instrument, but all of the counterparts shall constitute one
and the same instrument.
6.12 Exhibits. The exhibits to this Agreement are incorporated herein by reference for
all purposes wherever reference is made to the same.
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6.13 Survival of Covenants. Any of the representations, warranties, covenants, and
obligations of the parties, as well as any rights and benefits of the parties, pertaining to a period
of time following the termination of this Agreement shall survive termination.
6.14 Conditions Precedent. This Agreement and the provision of the Grants provided
herein for are expressly subject to contingent upon (i) Company closing its purchase of the Land
on or before September 11, 2007; and (ii) the Company obtaining City approval of the Hotel
Deed Restriction.
[Signatures Appear on the Following Pages]
Copoell//Duke Realty Ltd. PSlEconomic Development A~reement - 10
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EXECUTED in duplicate originals this the iJ:L~Y of. 8" ~
City of Co pel Texas
2007.
By:
Attest:
By:
By:
Robert E. Hager, City Att
Coppell/lDuke Realtv Ltd. PS/Economic Develooment Agreement - II
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EXECUTED in duplicate originals this the -2A1:day of. 1'1oA IV-'
Duke Realty Limited Partnership,
an Indiana limited partnership
By: Duke Realty Corporation,
an Indiana corporation,
sole general partner
By:
Duke Construction Limited Partnership,
an Indiana limited partnership
By: Duke Business Centers Corporation,
an Indiana corporation,
sole general partner
By:
CoppeIl//Duke Realty Ltd. PS/Economic Develooment Agreement - 12
2007.
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City of Coppell's Acknowledgment
State of Texas ~
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County of Dallas ~
This instmment was acknowledged before me on the Ill~.y of
by Douglas N. Stover, Mayor of the City of Coppell, Texas, a Texas mu .
municipality.
, 2007,
ehalf of said
My Commission Expires:
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LIBBY BALL
Notary Public
State of Texas
Comm. Expires 06-11-2008
Company's Acknowledgment
State of Texas ~
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County of Dallas ~
This instrument was acknowledged before me on the ~ day of A I mr ' 2007,
by Jeff Turner, Senior Vice-President of Duke Realty Corporation, an IndiJa corporation, as
general partner of Duke Realty Limited Partnership, an Indiana limited partnership, on behalf of
said corporation and said limited partnership.
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Coppell/lDuke Realtv Ltd. PS/Economic Development Agreement - 13
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Company's Acknowledgment
State of Texas
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This instrument was acknowledged before me on the 2Jst::day of J1llffilL.. ,2007,
by Jeff Turner, Senior Vice-President of Duke Business Centers Corp~ an IndIana
corporation, as general partner of Duke Construction Limited Partnership, an Indiana limited
partnership, on behalf of said corporation and said limited partnership.
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Coooell//Duke Realty Ltd. PS/Economic Development Agreement - 14
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Exhibit" A"
Legal Description of Land
TRACT 1
Being a tract of land situated in the Cordelia Bowen Survey, Abstract No. 56 and in the Jefferson
Tilley Survey, Abstract No. 1474, Dallas County, Texas, and being the same tract of land
conveyed to HML 183 Partners, L.P., by Deed recorded in Volume 2003167, Page 12141, Deed
Records, Dallas County, Texas, and being more particularly described by metes and bounds as
follows:
BEGINNING at a 1/2 inch iron rod set for comer with yellow plastic cap stamped "DCA INC."
at the intersection of the Northeast right-of-way line of L.B.J. Freeway (variable width right-of-
way) and the West right-of-way line of Belt Line Road (120 foot right-of-way), said comer also
being the Southeast comer of said HML 183 Partners tract;
THENCE North 71 degrees 35 minutes 05 seconds West, along said Northeast right-of-way line
of L.B.J. Freeway, a distance of 1545.92 feet to a 1/2 inch iron rod set for comer with yellow
plastic cap stamped "DCA INC. ";
THENCE North 51 degrees 30 minutes 48 seconds West, along said Northeast right-of-way line
of L.B.J. Freeway, a distance of 1057.19 feet to a concrete monument found for comer;
THENCE North 39 degrees 55 minutes 52 seconds West, along said Northeast right-of-way line
of L.B.J. Freeway, a distance of 808.75 feet to a concrete monument found for corner;
THENCE North 35 degrees 43 minutes 45 seconds West, along said Northeast right-of-way line
of L.B.J. Freeway, a distance of 1269.74 feet to a 1/2 inch iron rod found for comer, said corner
being the South comer of a tract of land conveyed to Santa Fe Pacific Realty Corporation, by
Deed recorded in Volume 89190, Page 3425, Deed Records, Dallas County, Texas;
THENCE North 00 degrees 13 minutes 57 seconds East, along the East line of said Santa Fe
Pacific Realty tract, a distance of 791.39 feet to a 1/2 inch iron rod set for corner with yellow
plastic cap stamped "DCA INC.", said corner being the Southwest corner of a tract of land
conveyed to Coppell Independent School District, by Deed recorded in Volume 417, Page 461,
Deed Records, Dallas County, Texas;
THENCE North 89 degrees 26 minutes 32 seconds East, along the North line of said Coppell
Independent School District tract, a distance of 2388.83 feet to a 1/2 inch iron rod found for
corner, said corner lying in the South line of Lot 2, Block B of Northlake 635 Business Park, an
addition to the City of Coppell, Dallas County, Texas, according to the map thereof recorded in
Volume 98193, Page 30, Map Records, Dallas County, Texas, and being the Northwest corner of
Lot 1, Block B of Northlake 635 Business Park, an addition to the City of Coppell, Dallas
County, Texas, according to the map thereof recorded in Volume 98008, Page 11, Map Records,
Dallas County, Texas;
A-I
THENCE South 00 degrees 29 minutes 23 seconds West, along the West line of said Lot 1,
Block B, a distance of 1111.44 feet to a 3/4 inch iron pipe found for comer, said comer being the
Southwest comer of said Lot 1, Block B;
THENCE North 89 degrees 25 minutes 45 seconds East, a distance of 1174.28 feet to a 1/2 inch
iron rod set for comer with yellow plastic cap stamped "DCA INC.", said comer being the
Southeast comer of said Lot 1, Block B and lying in said West right-of-way line of S. Belt Line
Road;
THENCE South 00 degrees 02 minutes 27 seconds West, along said West right-of-way line of S.
Belt Line Road, a distance of 1583.62 feet to a 1/2 inch iron rod set for comer with yellow plastic
cap stamped "DCA INC. ";
THENCE departing said West right-of-way line of S. Belt Line Road the following bearings and
distances:
North 85 degrees 44 minutes 20 seconds West, a distance of 675.56 feet to a point for comer;
North 05 degrees 15 minutes 13 seconds East, a distance of 105.89 feet to a point for comer;
North 84 degrees 44 minutes 47 seconds West, a distance of 208.71 feet to a point for comer;
South 05 degrees 15 minutes 13 seconds West, a distance of 143.89 feet to a point for comer;
South 84 degrees 44 minutes 47 seconds East, a distance of 208.71 feet to a point for comer;
North 05 degrees 15 minutes 13 seconds East, a distance of 17.99 feet to a point for comer;
South 85 degrees 44 minutes 20 seconds East, a distance of 677.38 feet to a 1/2 inch iron rod set
for comer with yellow plastic cap stamped "DCA INC.", lying in said West right-of-way line of
S. Belt Line Road;
THENCE South 00 degrees 02 minutes 27 seconds West, along said West right-of-way line of S.
Belt Line Road, a distance of 908.45 feet to the POINT OF BEGINNING and containing
7,995,793.21 square feet or 183.56 acres ofland.
A-2
TRACT 2
Being a tract of land situated in the Cordelia Bowen Survey, Abstract No. 56 and in the Jefferson
Tilley Survey, Abstract No. 1474, Dallas County, Texas, and being out of the same tract of land
conveyed to HML 183 Partners, L.P., by Deed recorded in Volume 2003167, Page 12141, Deed
Records, Dallas County, Texas, and being more particularly described by metes and bounds as
follows:
COMMENCING at a 1/2 inch iron rod set for corner with yellow plastic cap stamped "DCA
INC." at the Southeast comer of Lot 1, Block B of Northlake 635 Business Park, an Addition to
the City of Coppell, according to the map thereof recorded in Volume 98008, Page 11, Map
Records, Dallas County, Texas, and lying in the West right-of-way line of S. Belt Line Road (120
foot right-of-way);
THENCE South 00 degrees 02 minutes 27 seconds West, along said West right-of-way line of
Belt Line Road, a distance of 1583.62 feet to a 1/2 inch iron rod set for comer with yellow plastic
cap stamped "DCA INC.", said comer being the POINT OF BEGINNING;
THENCE South 00 degrees 02 minutes 27 seconds West, a distance of 20.06 feet to a 1/2 inch
iron rod set for corner with yellow plastic cap stamped "DCA INC. ";
THENCE North 85 degrees 44 minutes 20 seconds West, departing said West right-of-way line
of S. Belt Line Road, a distance of 677.38 feet to a point for comer;
THENCE South 05 degrees 15 minutes 13 seconds West, a distance of 17.99 feet to a point for
comer;
THENCE North 84 degrees 44 minutes 47 seconds West, a distance of 208.71 feet to a point for
comer;
THENCE North 05 degrees 15 minutes 13 seconds East, a distance of 143.89 feet to a point for
comer;
THENCE South 84 degrees 44 minutes 47 seconds East, a distance of 208.71 feet to a point for
comer;
THENCE South 05 degrees 15 minutes 13 seconds West, a distance of 105.89 feet to a point for
corner;
THENCE South 85 degrees 44 minutes 20 seconds East, a distance of 675.56 feet to the POINT
OF BEGINNING and containing 43,565.38 square feet or 1.0001 acres of land.
A-3
Exhibit "B"
Concept Plan
B-1
......
EXHIBIT B
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