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Vistas of C P1A/FP-CS 961217' CENTEX HOMES 1,?./19/96 t=ROM Deoomb~r 17, 1996 10:49 CENTEX HOt~ D~LL~S NORTH TO 304354? Director of Parks ~d Recreation City of Coppell Z55 Parkway Boulevard Coppall, T~,as 75019 Vistas ofCoppdl D~vdopment Park Trail Construction Dear Gary: Per my me~ing with you and Clay Phillips last week concerning Re Vistas of Coppell residential dovelopll)~t, i would like to verify the arranSements for construction of the proposed Trail aion8 Denton CrOelC and disposition of the park fees for the project. Per ou~ discussion, Ccntc, x is propostl~ c~0nstruotion of thc park trail (to AASHTO standards) fi'om the Mac--ur Boulevard bridse over Denton Creek westerly to the western platt~l property line of VistaS of Coppett, Section 2. This will constitute approximately 3900 L,F oft~ail construction with asso0iatod appurtenances. Our 0urr~t estimaxe of th~ doeign and cor~struction cost is a ioximately $20o,000 (unless additional railings or r~u~tl~ng .wal. ls are needed whioh · PP ' ' ill all It '"g n~$s y6 lf~ire'~an easement of' could lnor~a~ the cost). In addition, Centex w take /~ ary,~ . suflicieni width (16 foot minimum) on the ,l~vee Improvement D~tr/ot lal~d along ~h~ l~ngth ox the trail. in return tbr the oonstruction et'the Trail~ the City of Coppell will reduc,~ th~ total amount ofp~rk fees due for the project by the documented amount of expenditures tbr c, onstmction of the Trail. Upon complolion of ih© Trail construction, Centex will submit to the City a detailed aocounttrlg of tho to~al e.,ollt$ in~urrod in design and constuction of the Trail. Centex will pay the between ~he original park f~es and lhe Trail construction oost t~-:~he City~ in the unlik*ly ovc~t 'thai the cost of construction of ih® Trail exceeds the total park fees which would othmwis~ be due, Centex reserves the rilgllt to $~.op ¢onstro¢0on of th, Trail luld/or apply for r~iml~ursem~nt from ~ho City for the cost overage but will not be obligat~t for any ct~t:~ of const~uo~ion cxc. e~Aing the park fees. Since the estimated park fees for ~e projc--ot ex¢~ $275,000 v~su$ an approxima~ $200,000 Trail oosg this is a very unlikely Tho constru¢tion Of th0 Trail will proceed in two plaasos, roughly matching th~ phasing plan residential subdivision. Phase I vdll run i~;om the MacArthur brid~ to the we.~er!y edge of Phas~ 2B and th~ remainder of the Trail will be constrtlc>lod with Phase 2C. Because th~ oon~truction cost of the iniligl phase ofihe Trail will likely exce~l the park fees o~horwit~ do~ on 1600 $. Stemmono Prwy., guile 230 / {.t~wtt¥1111, Tfxa$ ?/~0/~ / 214-~:2.1-555e 12-17-1996 04:34PM FROM CENTEX HOMES DALLAS NORTH TO 504J570 P.02 Mr. Gm'y Sims December 17, 1996 Page 2 of 2 Phase 2A, 2B and lA, we request that any remaining credit or overage on the initial phase of Trail construction carry over to Phases lB and 2C of the residential project. We appreciate this opportunity to work with the City of Coppell on a mutually beneficial goal and look forward to the start of construction of the project and the Trail. If there are any clarifications or corrections to this understanding, please contact me as soon as possible. Sincerely, Derek E. Earle, P.E. Land Development Manager Dallas North Division CC'. Mr. Clay Phillips Mx. Gary Sieb Mr. Ken Griffin Mr. Jim Witt TOTAL P.02