Gatew-1.4/Re-CN 931111 DEVELOPER'S AGREEMENT
FOR
SOUTHWESTERN BOULEVARD
THIS AGREEMENT is made this ~i" ~ day of November, 1993, by and between The
Prentiss/Copley Investment Group, a Delaware joint venture, hereinafter referred to as
"DEVELOPER," and the City of Coppell, Texas, a Texas municipal corporation, hereinafter
referred to as "CITY".
WITNESSETH:
WHEREAS, DEVELOPER is the owner of that 27.2115 acre tract of land situated within
Park West Commerce Center, an addition to the CITY, in the James A. Simmons Survey,
Abstract No. 1296, Dallas County, Texas, and being more particularly described in Exhibit "A"
which is attached hereto for all pu:'poses; and, hereinafter referred to as the "Property";
WHEREAS, DEVELOPER has filed with CITY an application for replatting the
Property; and
WHEREAS, previous plat approval of Park West Commerce Center by CITY required
construction of Southwestern Boulevard upon the occurrence of certain conditions; and,
WHEREAS, DEVELOPER and CITY desire to enter into an agreement that clarifies the
timing for construction of Southwestern Boulevard and satisfies the previous plat requirement.
NOW, THEREFORE, for and in consideration of the mutual covenants and benefits
contained herein, which sufficiency is acknowledged by execution below, DEVELOPER and
CITY agree as follows:
DEVELOPER'S AGREEMENT FOR SOLVI~WESTERN BOULEVARD - Page I
1. Prior to the issuance of a certificate of occupancy for a use on proposed
Lot 1, Block 1; Lot 2, Block 1; or Lot 3, Block 1 of the Re-Plat of Block 1 and 2, Park
West Commerce Center, an Addition to the City of Coppell in the James A. Simmons
Survey, Abstract No. 1296, Dallas County, Texas, Southwestern Boulevard must either
be constructed or caused to be constructed by DEVELOPER at its sole cost and expense,
and in accordance with standard City street specifications at the time, in the approximate
location identified on Exhibit "B", which is attached hereto for all purposes, as a tour
lane divided thoroughfare from Belt Line Road to the westernmost point contiguous to
the Southwestern Boulevard right-of-way of the lot for which an application for a
certificate of occupancy has been filed with the City, or all funds necessary for the
completion of such construction must be placed in an escrow account with the CITY by
DEVELOPER.
2. In the event CITY determines that Southwestern Boulevard as identified
on Exhibit "B" needs to be constructed or that the average daily traffic on Southwestern
Boulevard exceeds 8000 trips per day, DEVELOPER agrees to begin construction or
cause construction to begin on Southwestern Boulevard as a four lane divided
thoroughfare from Belt Line Road to the westernmost point contiguous to the
Southwestern Boulevard right-of-way of Lot 1, Block 1 of the Re-Plat as set forth on
Exhibit "B", within six (6) months of receiving written approval of construction plans
from CITY, and DEVELOPER further agrees to complete construction within a
reasonable time thereafter and in accordance with standard City street specifications at
the time. In lieu of constructing Southwestern Boulevard, DEVELOPER may place all
DEVELOPER'S AGREEMENT FOR SOUTHWESTERN BOULEVARD -Page 2
funds necessary for the completion of such construction in an escrow account with
CITY within six (6) months of receiving written notice from CITY that
Southwestern Boulevard is to be constructed.
3. This Agreement and its performance by DEVELOPER will satisfy any and
all obligations of DEVELOPER to provide for the construction or escrow of fees for
construction of Southwestern Boulevard and all improvements thereto required under the
previous plat approval of Park West Commerce Center, and under any ordinances of
CITY.
4. The provisions of this Agreement are hereby declared covenants running
with the Property and are fully binding on all successors, heirs, and assigns of
DEVELOPER who acquire any right, title, or interest in or to the Property, or any part
thereof. Any person who acquires 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. This Agreement will be recorded in the Real Property
Records of Dallas County, Texas, by CITY. DEVELOPER is released from the
obligations set forth under this Agreement for any Lot identified in Paragraph I above
upon completion of the improvements required herein for that Lot, payment of funds into
escrow as set forth herein for that Lot, or conveyance of said Lot prior to the
requirement for construction of Southwestern Boulevard as set forth herein provided such
a release in the last instance does not release DEVELOPER'S successors from the
requirements of this Agreement. A release of this Agreement will be furnished to
DEVELOPER by CITY upon completion of construction of the portion of Southwestern
DEVELOPER'S AGREEMENT FOR SOUTHWESTERN BOULEVARD - Page 3
Boulevard herein described and its acceptance by CITY or upon payment of funds
into escrow as set forth herein.
5. Applicable Ordinance. Development of the Property shall comply with all
applicable ordinances of the CITY, as amended from time to time, and with all laws and
regulations of all other governmental agencies with jurisdiction, as amended from time
to time, over the Property.
6. Severability of Provisions. If any article, paragraph, section, sentence,
clause or phrase of this Agreement shall be or become illegal, null or void for any reason
or shall be held by any court of competent jurisdiction to be illegal, null or void, the
remaining articles, paragraphs, sections, sentences, clauses or phrases of this Agreement
shall continue in full force and effect and shall not be affected thereby. It is hereby
declared that said remaining articles, paragraphs, sections, sentences clauses and phrases
would have been and are imposed irrespective of the fact that any one or more other
paragraphs, sections, sentences, clauses or phrases shall become or be illegal, null or
void.
7. GOVERNING LAW. THIS DECLARATION AND THE RIGHTS OF
THE OWNERS HEREUNDER SHALL BE GOVERNED BY THE LAWS OF THE
STATE OF TEXAS.
DEVELOPER'S AGREEMENT FOR SOU3~WESTERN BOULEVARD - Page 4
THE PRENTISS/COPLEY INVESTMENT GROUP,
A Delaware general partnership
By: Prentiss Property Investments, L.P.,
a Delaware limited partnership,
its managing venturer
By: Prentiss Property Investments, Inc.,
a Delaware corporation,
its general partner
CITY OF COPPELL, TEXAS,
A Texas municipality
By:
Name:
Its:
DEVELOPER'S AGREEMENT FOR SOUTH~.,STERN BOULEVARD - Page 5
§
COUNTY OF DALLAS §
This instrument was executed before me, the undersigned notary public, on
"~c,t.c .r',~;~c ~-- J ~ , 1993, by '-), I'{c. ~., tq ~-~.~'~[i'N_(' ~ , the
Il ~e.<. t''~,~'~.~( 4 ~:._~-~'L of Prentiss Property Investments, Inc., a Delaware corporation,
the general partner of Prentiss Property Investments, L.P., a Delaware limited partnership,
the managing venture of the Prentiss/Copley Investment Group, a Delaware general
partnership, in the capacity set forth.
N.._o!ary Public in and for the
State of Texas
Commission Expires: .J ~!~,'IANlCEc0~eas,0u ~:' t/~:R~xP~s :'
My
STATE OF TEXAS §
COUNTY OF DALLAS §
This instrument was executed before me, the undersigned notary public, on
~;'z-~.,, '~,u. -_~',/ , 1993, by /-~.~ ,~/,~-.L~:'-x.. , the
-- -~/ct~..~'>_. ' of the City of Coppell, TeS~as, a municipal corporation, on
behalf of' said/municipal corporation.
Notary Public in and for the
State of Texas
My Commission Expires: ...................
/ ~(o'~ NOfO,'y Pub'~c '
\ ~;~:..?~_/z.,,/ My Commi~lcn Ex.--.. es
,'I ';'?~?'~'~ July 15, 1994' :
WSD'.O0980-O3~DOCS' 1104 DEV.AGR
November 4, 1993 2:18 pm
DEVELOPER'S AGREEMENT FOR SOU~'H~,~_~;TERN BOULEVARD - Page 6
EXHIBIT "A"
BEENG a tract of land situated in the J~,aanes A. Shmmons Survey, Abstract No. 1296, m t.,he Ci~'
of Coppell, Dallas County..., Texas, and being pax of Block 1 and 2 of Park West Commerc~
Center as recorded in Volume 90213, Page 3264 of the deed records of Dallas CounD', Texas,
rand bekng more particularly described as follows:
CO.~LXLENCLN-G at tt',e most northeriy point of a 38.00 foot ~a~ comer cEp iocated on die
common Line between the nor-da fight-of-way of ALt ~.l. kne D-r4.ve (60 feet wide) and :.he v,'est hght-
of-way of Bek.l~,e Road (120 feet wide'::
THENCE North 01 degrees 15 minutes 30 seconds East along the west right of way ii_ne of
Beltline Road a distance of 949.00 feet to the POLNT OF BEGEN..'NLN'G;
THENCE North 89 degrees 06 minutes 01 seconds West departing said west fight of way line
a distance of 2746.89 feet to a 1/2" iron rod set for a comer at the point of curvature of a circular
curve to the left havig a radius of 600.00 feet, said point also lying on the south Line of a 300
foot wide floodway easement for Grapevine Creek;
THENCE along said circular curve and south line an arc distance of 586.11 feet, through a
cena'~ angle of 55 degrees 58 minutes '. 1 seccnds mud a tangent d/stance of 318.82 feet to a 1/2"
iron rod set for a comer at the point of tangency of said curve;
THENCE North 35 degrees 53 minutes 36 seconds East a distance of 375.80 feet to a 1/2" iron
rod set for a corner on the south right-of-way of Southwestern Boulevard (90 feet wide), said
point also being a nontangent point of a circular curve having a radius of 655.00 feet;
TI-IENCE departing said south easement Line and along said circular curve and south right-of-way
of Southwestern Boulevard an arc distance of 55.22 feet, through a central angle of 04 degrees
49 minutes 50 seconds, a tangent d/stance of 27.63 feet and a chord bearing of South 86 degrees
33 minutes 46 seconds East a distance of 55.20 feet to a point for a corner,
THENCE South 88 degrees 58 minutes 41 seconds East a d/stance of 1135.66 feet to a point for
a corner at the point of curvature of a circular curve to the right having a radius of 775.00 feet;
THENCE along said circular curve an arc d/stance of 243.54 feet, through a central angle of 18
degrees 00 minutes 19 seconds and a tangent distance of 122.78 feet to a point for a corner at
the point of tangency of said curve;
THENCE South 70 degrees 58 minutes 22 seconds East a distance of 294.91 feet to a point for
a comer set at the lXfiat of curvature of a circular curve to the left having a radius of 665.38 feet;
THENCE along said circular curve an arc distance of 206.35 feet, through a central angle of 17
degrees 46 minutes 08 seconds and a tangent distance of 104.01 feet to a point for a comer set
at the point of tangency of said curve;
THENCE South 88 degrees 44 minutes 30 seconds East a distance of 88.82 feet to a point for
corner at the point of curvan~e of a circular curve to the right having a radius of 30.00 feet;
TI-iENCE along said circular cu.rve departing said south right-of-way of Southwestern Boulevard
and along the west right-of-way of Beitiine Road (120 feet wide) an arc distance of 47.12 feet,
through a central angle of 90 de~ees (33 minutes (33 seconds and a tangent distance of 30.00 feet
to a point for a comer at the point of ta~qgency of said circular cur~'e;
TH]ENCE South 01 de~ees 15 minutes 30 seconds West continuing along said west right-of-way
a distance of 364.85 feet to the POLNT OF BEGL\."NLNG ,-~N'D CONTALN'D4'G 1,185,331 square
feet or 27.2115 acres of land more or less.