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Magnolia Park/FP-CN 981022ROBERT L. DILLARD III ROBERT E. HAGER PETER G, SMITH DAVID M. BERMAN BRUCE A. STOCKARD NICHOLS, JACKSON, DII,LARD, HAGER & SMITH, L.L.P. Attorneys & Counselors at Law 1800 Lincoln Plaza 500 North Akard Dallas, Texas 75201 (214) 965-9900 Fax (214) 965-0010 E-mail NJDHS @NJDHS.com JOHN F. ROEHM III JASON C. MARSHALL J. DAVID DODD III ROBERT'L. DILLARD, JR. H. LOUIS NICHOLS LAWRENCE W. JACKSON OF COUNSEL October 22, 1998 Clay Phillips Deputy City Manager City of Coppell 255 Parkway Boulevard P.O. Box 478 Coppell, Texas 75019 Special Warranty Deed- Magnolia Park Company LttL & City of Coppell Development Agreement - Magnolia Park Company Ltd. & Coppell Greens Ltd. & City of Coppell, Texas Dear Clay: Please find enclosed herewith the recorded copies of the above referenced documents. These have been filed in both Denton County and Dallas County. Should you have any questions, please feel free to contact me. Thank you for your attention to this matter. Very truly yours, NICHOLS, JACKSON, DILLARD, HAGER & SMITH, L.L.P. · By: ~ REH/cdb Enclosure 21412 STATE OF TEXAS § COUNTY OF DALLAS § L 151 00732 10/05/98 Deed .,._-.-.-.-.-.-.-.~; ~ 0 3 0 5 1224588 .... $47. O0 0 J..809 DEVELOPMENT AGREEMENT This AGREEMENT is made by and between the City of Coppell, Texas, a Home Rule City (the "CITY"), and Magnolia Park Company Ltd. and Coppell Greens, Ltd. (the "OWNERS"): RECITALS WHEREAS the OWNERS desire to construct a planned development for SF-9 and SF-12 within the City of Coppell, Texas in Planned Development Number 133 and a planned development for SF-7 in Planned Development Number 134R, being more particularly described in the plats and metes and bounds descriptions attached as Exhibits "A" and "B," respectively, hereto and incorporated herein by reference as the PLANNED DEVELOPMENT; and WHEREAS the City Council and the Planning and Zoning Commission, after public hearing, approved the final plat pursuant to the Planned Development Number 133 and 134R and in accordance with the final site plan which was approved by the City Council on December 9, 1997 and September 9, 1997, respectively, and the parties hereby enter into this Development Agreement, which calls for the future dedication of park land which is more particularly described in Exhibit "C" attached hereto and incorporated herein by reference as PARK LAND PROPERTY, and the construction of PARK LAND IMPROVEMENTS AGREEMENT - Page 1 on said park property in accordance with this 981 91, 00398 14412 .!51 O0-/33 AGREEMENT which is attached hereto and incorporated by reference as Exhibit "D," hereinafter referred to as PARK LAND IMPROVEMENTS; and WHEREAS, the dedication and construction provided herein is in lieu of park land dedication fees as required under CITY Ordinances; NOW THEREFORE, in consideration of ten dollars ($10.00), the mutual covenants and other valuable consideration, the sufficiency and receipt of which is hereby acknowledged, the parties agree as follows: 1. OWNERS agrees, within one (1) year from the date of execution, to dedicate the PARK LAND PROPERTY for the benefit of the CITY by conveying said property to the CITY in fee simple absolute. 2. OWNERS agrees, within one (1) year from the date of execution, to construct the PARK LAND IMPROVEMENTS as provided in Exhibit "D" on said PARK LAND PROPERTY. Further, the OWNERS agree to provide prior written notification to the CITY in the event there are changes to the original plans and/or specifications of the PARK LAND IMPROVEMENTS and said changes are subject to the approval of the CITY; 3. That all costs of the PARK LAND IMPROVEMENTS, as defined by the attached Exhibit "D" set forth herein, shall be borne by the OWNERS; 4. OWNERS shall apply and obtain all necessary permits from the CITY for PARK LAND IMPROVEMENTS and the City shall waive all inspection fees in connection with said PARK LAND IMPROVEMENTS from and after the date of this AGREEMENT; AGREEMENT - Page 2 98191 00399 14412 4151 00734 5. After all PARK LAND IMPROVEMENTS are completed in substantial compliance with the final plans and specifications as provided herein, the CITY shal'l~ ~n or after the date of conveyance, approve and accept the PARK LAND PROPERTY AND PARK LAND IMPROVEMENTS, which acceptance will not be unreasonably withheld; 6. If any party hereto fails to abide by the provisions hereunder or any other party hereto shall, in addition to any rights or remedies available to such party, at law or in equity, be entitled to terminate this AGREEMENT or to specifically enforce the provisions hereof by any defaulting party contained herein. 7. This AGREEMENT, along with any attachments and other construction documents referred to, contain the entire understanding of the AGREEMENT by and between the parties hereto relating to the PARK LAND IMPROVEMENTS, PARK LAND dedication and payment of any improvements thereon and shall be binding upon and inure to the benefit of such party, the respective successors, heirs assigns and legal representatives if any action is taken, at law or in equity, as brought to enforce and interpret the provisions of this AGREEMENT. The prevailing parties shall be entitled to reasonable attorney fees in addition to any other remedy which the party may be entitled. 8. All construction of the improvements will be in accordance with the applicable state and local laws, codes and regulations (or valid waiver thereof); provided that OWNERS shall have such additional time to complete and maintain the improvements as may be required in the event of force majeure, if OWNERS are diligently and faithfully pursuing completion of the improvements. For this purpose, force majeure shall mean any contingency or cause beyond reasonable control of the OWNERS, including, without limitation, acts of God or the public enemy, war or riot, civil commotion, insurrection, AGREEMENT-Page3 98j 9~ 00~'-00 144t2 L 151 00'/35 adverse weather, government or defacto governmental action, unless caused by acts or omissions of the OWNERS, fires, explosions, floods, strikes, slow-downs or ~rk stoppages. 9. This AGREEMENT shall be amended only by mutual agreement of the parties, in writing, to be attached to and incorporated in this AGREEMENT. 10. All notices required or permitted to be delivered by this AGREEMENT shall be deemed received when sent by U.S. Mail, postage prepaid, certified mail, return receipt requested, addressed to the following, or other such other party or address as either party designates in writing: If intended for OWNERS, to: Magnolia Park Co., Ltd. Attn: 5225 Village Creek Dr. Suite 400 Plano, Texas 75093 Coppell Greens, Ltd. Attn: 5225 Village Creek Dr. Suite 400 Plano, Texas 75093 If intended for CITY, to: City of Coppell, Texas City Manager P. O. Box 478 Coppell, Texas 75019 11. This AGREEMENT shall' be binding on and inure to the-benefit of the parties to it and their respective heirs, executors, administrators, legal representatives, AGREEMENT - Page 4 14412 ,151 00736 successors, and assigns. This AGREEMENT may be assigned with the consent of the CITY which consent shall not be unreasonably withheld, conditioned or delayed. 12. In the event any section, subsection, paragraph, sentence, phrase or word herein shall, for any reason be held invalid, illegal, unenforceable or unconstitutional in any respect, such invalidity, illegality, unenforceability or unconstitutionality shall not effect any other provision and the balance of this AGREEMENT shall be enforceable and shall be enforced as if the parties intended at all times to delete said invalid section, subsection, paragraph, sentence, phrase or word as if the portion had never been contained therein. 13. The validity of this AGREEMENT and any of its terms and provisions, as well as the rights and duties of the parties, shall be governed by the laws of the State of Texas; and venue for any action concerning this AGREEMENT shall be in State District Court of Dallas County, Texas. 14. This AGREEMENT embodies the complete agreement of the parties hereto, superseding all oral or written previous and contemporary agreements between the parties and relating to the matters in this AGREEMENT, and except as otherwise provided herein cannot be modified without written agreement of the parties to be attached to and made a part of this AGREEMENT. 15. The provisions of this AGREEMENT are hereby declared covenants running with the PROPERTY, shall be reflected in any deeds, plats or other filings concerning the "PROPERTY" and/or "PARK LAND PROPERTY, and are fully binding on all successors, heirs, and assigns of oWNERs who acquire any fight, 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 hereof, thereby agrees and covenants to abide AGREEMENT-Page5 9.819~ 004~0'2 .. 14412 1 !51 00737 by and fully perform the provisions of this AGREEMENT with respect to the right, title or interest in such property. 16. The determinations recited and declared in the preambles to this AGREEMENT are hereby incorporated herein as part of this AGREEMENT. 17. All exhibits to this AGREEMENT are incorporated herein by reference for all purposes wherever reference is made to the same. EXECUTED in duplicate originals this the /..~ day of x.)'~ [/ , 1998. CITY OF COPPELL, TEXAS MAGNOLIA PARK CO., LTD. By: 'JIM ,~~GER ATT~: By: Name: Title: COPPELL GREENS, LTD. KATHLEEN ROACH, CITY SECRETARY Name: Title: APPROVED AS TO FORM: CITY ATTOP~EY (REH/slp 05/29/98) AGREEMENT - Page 6 98 1 00 "03 14412 ~151 00"/38 CITY MANAGER'S ACKNOWLEDGMENT STATE OF TEXAS COUNTY OF DALLAS This instrument was acknowledged before me on the ]5~ day of -.-.~ct [I,/' , 1998 by Jim Witt, City Manager of the City of Coppell, Texas, a municipal corporation, on behalf of said corporation. Notary Public, State of Texas AGREEMENT - Page 7 98l 9t~ 14412 · ' 1 151 00'739 ACKNOWLEDGMENT STATE OF TEXAS COUNTY OF DALLAS This instrument was acknowledged before me on the ~0~¢"day of 1998 by [:~,0-~x liz'~x~ , 4)~ oflqlagnolia Company, Ltd., a'-V't_,t~.~ ~ ~, on behalf of said_ Notary Public, State of Texas Park My Commission Expires: 14412 AGREEMENT- Page !51 0071 0 ACKNOWLEDGMENT STATE OF TEXAS COUNTY OF DALLAS This instrument was acknowledgexLbefore me on the.~Or~day of C'u, , '~'~' ~ q,-~..~ 171.i,~ ~ - 1998 by. ¢,;O"~kt?~,[~ry~_ _ , c.,~.,.,~,.-,.l ~.--m.,,.' ' ofaoppell~re'~ns, Ltd., ~ .-t.~, _~ ~n behalf of said ~.. Notary Public, State of Texas My Commission Expires: May 28, 1999 AGREEMENT - Page 9 98! 9~' 00~06 14412 .151 0071 1 EXHIBIT "A" PLANNED DEVELOPMENT NUMBER 13 3 (P.D.S.F.-9) BOUNDARY DESCRIPTION BEING a tract of land situated in the Clarinda Squires Survey, Abstract No. 1327 in the City of Coppell, Dallas County, Texas and being in part of a tract of land as conveyed to BancPlus Savings Association by a deed recorded in Volume 2583, Page 245 of the Deed Records of Denton County, Texas and being more particularly described as follows; COMMENCING at a point of Intersection of the west line of Denton Tap Road (a variable width right-of-way) with the south line of State Highway No. 121 (a proposed variable width right-of-way); Thence SOUTH, 752.10 feet along the said west line of Denton Tap Road to the POINT OF BEGINNING, a 1/2" iron rod set for comer; THENCE SOUTH, 369.90 feet continuing along the said west line of Denton Tap Road to a 1/2" iron rod set for comer; THENCE WEST 227.98 feet leaving the said west line of Denton Tap Road to a 1/2" iron rod set for comer; THENCE N. 52°39'39" W., 319.69 feet to a 1/2" iron rod set for comer; THENCE N. 46027'45" W., 148.17 feet to a 1/2" iron rod set for comer; THENCE N. 40024'55" W., 146.52 feet to a 1/2" iron rod set for comer; THENCE N. 57054'03" W., 259.08 feet to a 1/2" iron rod set for comer, said point being the beginning of a curve to the left having a central angle of 66°48'41" a radius of 403.80 feet and achord bearing of S. 88° ' " 41 36 W.; THENCE along said curve 470.86 feet to the end of said curve, a 1/2" iron rod set for comer; THENCE S. 55o17, 16" W., 84.87 feet to a 1/2" iron rod set for comer; THENCE S. 84049'49" W., 234.17 feet to a 1/2" iron rod set for comer, said point being the beginning of a curve to the right having a central angle of 58°31 '47" a radius of 496.20 feet and a chord bearing of N. 65054, 18" W.; THENCE along said curve 506.89 feet to the end of said curve, a 1/2" iron rod set for comer; THENCE N. 36038'25" W., 132.37 feet to a 1/2" iron rod set for comer; THENCE N. 00005'25" E., 1373.00 feet to a 1/2" iron rod set for comer, said point being on the south line of said State Highway No. 121; THENCE along the said south line of State Highway No. 121 the following courses and distances, S. 64°55'06" E., 103.83 feet to a 1/2" iron rod set for comer; THENCE S. 56°49'12" E., 149.79 feet to a 1/2" iron rod set for comer; THENCE S.66°22'06'' E., 565.81 feet continuing along the said south line of State Highway No. 121 to a 1/2" iron rod set for comer; THENCE S. 23°37'54" W., 50.00 feet leaving the said south line of State Highway No. 121 to a 1/2" iron rod set for comer; THENCE S. 66022'06" E., 100.00 feet to a 1/2" iron rod set for comer; THENCE N. 23037'54" E., 50.00 feet to a 1/2" iron rod set for comer, said point being on the south line of State Highway No. 121; gsI 00I 0'7 !51 0071,,2 THENCE S. 66022'06'' E., 47.63 feet along the said south line of State Highway No. 121 to a 1/2" iron rod set for comer; THENCE S. 64°57'59" E., 282.32 feet continuing along the said south line (}~'~tate Highway No. 121 to a 1/2" iron rod set for comer; THENCE S. 25°02'01" W., 27.85 feet leaving the said south line of State Highway No. 121 to a 1/2" iron rod set for comer, said point being the beginning ora curve to the left having a central angle of 21°49'20'' a radius of 530.00 feet and a chord bearing orS. 14°07'22" W.; THENCE along said curve 201.86 feet to the end of said curve, a 1/2" iron rod set for comer, said point being the beginning of another curve to the left having a central angle of 68010'40" a radius of 40.00 feet and a chord beating of S. 30052'38" E., THENCE along said curve 47.60 feet to the end of said curve, a 1/2" iron rod set for comer; THENCE S. 64°57'59" E., 932.91 feet to a 1/2" iron rod set for comer; THENCE SOUTH, 552.00 feet to a 1/2" iron rod set for comer; THENCE S. 49° 10'04" E., 80.94 feet to a 1/2" iron rod set for comer; THENCE EAST, 198.75 feet to the Point of Beginning and containing 50.885 fiEres (2,216,560 square feet) of land. 98191 00 08 l !51 O07N EXHIBIT "B" PLANNED DEVELOPMENT NUMBER 134 R (P.D.S.F.-7) BOUNDARY DESCRIPTION BEING a tract of land situated in the H. Smith Survey, Abstract No. 1576, the Clarinda Squires Survey, Abstract No. 1682 and the William T. Hyder Survey, Abstract No. 1701 in the City of Coppell, Denton County, Texas and being part of a tract of land as conveyed to BancPlus Savings Association by deed recorded in Volume 2583, Page 245 of the Deed Records of Denton County, Texas and being more particularly described as follows: BEGINNING at 1/2" iron rod found for comer on the west line of Denton Tap Road (a variable width right-of-way), said point being the northeast comer of the said BancPlus Savings Association tract and the southeast comer of a tract of land as conveyed to Annie Lee Roberts by deed recorded in Volume 2305, Page 131 of the Deed Records of Denton County, Texas. --~ THENCE S. 00° 00'24" W., 1150.96 feet along the said west line of Denton Tap Road to a 1/2" iron rod set for comer; THENCE N. 89059'36" W., 229.41 feet along the said west line of Denton Tap Road to a 1/2" iron rod set for comer; THENCE S. 06030'48" W., THENCE S. 24°15'07" W., THENCE N. 89048'36" W., THENCE N. 66°17'50" W., 42.10 feet to a 1/2" iron rod set for comer; 332.95 feet to a 1/2" iron rod set for comer; 591.35 feet to a 1/2" iron rod set for comer; 774.41 feet to a 1/2" iron rod set for comer; THENCE N. 62°37'41'' W., 197.01 feet to a 1/2" iron rod set for comer; THENCE N. 64o55'48" W., 368.52 feet to a 1/2" iron rod set for comer, said point being on the east line of a tract of land designated as Tract One and Tract Two to James H. Cummings and David K. Cummings, recorded in Volume 85229, Page 3702, Deed Records, Dallas County, Texas and Volume 1779, Page 653 Deed Records, Denton County, Texas; THENCE N. 00°05'25" E., 1081.76 feet along the west line of the said BancPlus Savings Association tract and the east line of the said Cummings tract to a fence post found for comer; THENCE S. 89°58'15" E., 196.24 feet to a 1/2" iron rod found for comer; THENCE S. 01°17'58'' W., 144.53 feet to a 3/8" iron rod found for comer; THENCE S. 89058'33" E., 1985.60 feet to the Point of Beginning'and containing 65.501 acres (2,853,238 square feet) of land. 981'9 , 00 :09 q. 15 ! O07t q. .EXHIBIT "C' PARK PROPERTY BOUNDARY DESCRIPTION BEING a tract of land situated in the Clarinda Squires Survey, Abstract No. 1327 in the City of Coppell; Dallas County, Texas and being part of a tract of land as conveyed to BancPlus Savings Association by a deed recorded in Volume 2583, Page 245 of the Deed Records of Denton County, Texas and being more particularly described as follows: COMMENCING at a point of intersection of the west line of Denton Tap Road (a variable width right-of-way) with the south line of State Highway No. 121 (a proposed variable width right-of-way); Thence SOUTH, 1122.00 feet along the said west line of Denton Tap Road to the POINT OF BEGINNING, a 1/2" iron road set for comer; THENCE SOUTH, 126.11 feet continuing along the said west line of Denton Tap Road to a 1/2" iron rod set for comer; THENCE S. 05043'00" W., 100.50 feet along the said west line of Denton Tap Road to a 1/2" iron rod set for comer; THENCE SOUTH, 390.00 feet continuing along the said west line of Denton Tap Road to a point for comer, said point being in the centerline of Denton Creek; THENCE leaving the said west line of Denton Tap Road, and along the said eenterline of Denton Creek, the following courses and distances: N. 86046'35" W., 119.53 feet to a point for comer; comer; THENCE N. 66046'27" W., THENCE N. 55047'26'' W., THENCE N. 43°03'27" W., THENCE N. 37013'26'' W., 291.60 feet to a point for comer; 193.50 feet to a point for comer; 359.50 feet to a point for comer; 298.68 feet to a point for comer; THENCE N. 62°33'11" W., 166.34 feet to THENCE N. 87°11 '44" W., 102.11 feet to THENCE S. 58037'59" W., 35.31 feet to a a point for comer; a point for comer; point for comer; THENCE S. 45°50'51'' W., 234.76 feet to a point for comer; THENCE S. 81°41 '17" W., 231.49 feet to a point for comer; THENCE N. 83°40'51" W., 396.65 feet to a point for comer; THENCE N. 63024'34" W., 133.68 feet continuing along the said centerline of Denton Creek to a point for comer; THENCE N. 00005'25" E.., 685.22 feet leaving the said centerline of Denton Creek to a 1/2" iron rod set for comer; THENCE S. 36038'25" E., 132.37 feet to a 1/2" iron rod set for comer, said point being the beginning of a curve to the left having a central angle of 58°31'47" a radius of 496.20 feet and a chord bearing orS. 65°54'18" E.; THENCE along said curve 506.89 feet to the end of said curve, a 1/2" iron rod set for THENCE N. 84049'49" E., 234.17 feet to a 1/2" iron rod set for comer; 98198 ENCE N. 55°17'16'' E., 84.87 feet to a 1/2" iron rod set for comer, said point being ing of a curve to the right having a central angle of 66°48'41" a radius of 403.80 feet bearing of N. 88°41'36" E.; (ENCE along said curve 470.86 feet to the end of said curve, a 1/2" iron rod set for £ENCE S. 57o54'03'' E., 259.08 feet to a 1/2" iron rod set for comer; [ENCE S. 40024'55" E., 146.52 feet to a 1/2" iron rod set for comer; tENCES. 46°27'45'' E., 148.17 feet to a 1/2" iron rod set for comer; tENCES. 52o39'39" E., 319.69 feet to a 1/2" iron rod set for comer; tENCE EAST, 227.98 feet to the Point of Beginning and containing 26.741 acres 5 square feet) of land. 981 9 STATE HIGHWAy ( VARIAflLE R.O.w. ) TRACT I S0.88~ ACRES TRACT 26.791 ACRES ~;,-.':~'. BOUNDARY SURVEY 77. 676 ACRE TRACT DOWOEY. ANDERSON & ASSOCIgI'ES, I.~C. I ! ..( I ! ! 50'1~.: I" o ~lbl uu lU,~J EXHIBIT "D" DESCRIPTION OF PARK LAND IMPROVEMENTS 981~9'~ O0~.t5 0 0 / I / / I I I I fII I I I I I I I / / I t I I I I / / / \\ \ \ I I I -I I I I I I / ? o~0~ I I I I / / / I I I COUNT'( CLERK oM.L r,S 60g~l'f Any provision heroin which restrict! the ~ele. I~MI|, M U# I~ ~lJ descr bad real propefl'~/ beceuse of color or rico is Iflvllld I~ unenforceable under federal law. STATE OF TEXAS COUNTY OF DALLAS I hereby certify this instrument was filed on the date end time stamped hereon by mo and wes duly recorded In tho volume end page of the named reco;ds of Dallas Counb/, Texas el stamped hereon by me, OCT 5 1998 ~COUNTY CLERK, Dallas Count~, Texas AUG 1 1 1998 DE ~ REH/cdb NICHOLS, JACKSON, DILLARD, HAGER & SMITH, L.L.P. Attorneys & Counselors at Law 1800 Lincoln Plaza, 500 North Akard Dallas, Texas 75201 98191 : OOt 1:8'-: Filed for Rec, o~'d ~;n: bI.-:HTON CI31JNTY. TX HONORABI..~' TIM' H['d'~GFS/COUFITY CI..ERK ~'1: .1. 0: