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Easement AgreementEASEMENT AGREEMENT 4~87077 06125104 THIS EASEMENT AGREEMENT (this "Agreement"), is made as oftI4is 2¢4' day of ~ , 2004, between TOWN CENTER HOLDINGS, INC., a Texas corporation, ("Td~VN CENTER"); and DENTON TAP DEVELOPMENT, LLC, a limited liabili!~ company organized under the laws of the State of Indiana, having an address at 280 East 96. Street, Suite 250, Indianapolis, Indiana 46240 ("DENTON TAP"). Preliminary Statement Town Center is the owner of certain real property located in the City of Coppell, Texas, as more particularly described in Schedule "A" annexed hereto (the "Town Center Parcel"). Town Center intends to construct and operate on the Town Center Parcel a retail bank branch and related improvements and related parking and site facilities, provided, however, that this sentence shall not be construed to limit Town Center's use of the Town Center Parcel to the construction and operation of a bank. Denton Tap is the owner in fee of certain real property located in the City of Coppell, Texas (the "Denton Tap Parcel"), located adjacent to the Town Center Parcel, as more particularly described in Schedule "B" annexed hereto, save and except the Town Center Parcel which is adjacent to the Denton Tap Parcel. The Town Center Parcel and the Denton Tap Parcel are herein collectively referred to as the "Parcels", and each individually as a "Parcel". Town Center and Denton Tap (each of whom, including its heirs, successors, grantees and assigns, as well as any lessee of any Parcel or part thereof who has expressly assumed all of the obligations of the owning party under this Agreemenrt, shall hereinafter be-zeferred to individually as an "Owner", and all of whom, including their respective heirs, successors, grantees and assigns, as well as any lessee of any Parcel or part thereof who has expressly assumed all of the obligations of the owning party under this Agreement, shall hereinafter be referred to collectively as the "Owners") recognize that for the most favorable develo~pment and use. of the Parcels, it is necessary that they agree and cooperate with respect to the operation and mmntenance of their Parcels as more particularly set forth herein. Town Center and Denton Tap therefore intend herein to grant to one another roadway easements for pedestrian and vehicular ingress, egress, passage and delivery over, upon and across the Easement Parcels (as defined below). Town Center and Denton Tap also intend herein to provide for certain obligations with respect to the construction, operation and maintenance of the roadway to be constructed on the Parcels. The easements and obligations set forth herein shall run to t~e benefit of and bind the respective Parcels, and the Owners of such Parcels or any portion(s) thereof. '~- NOW, THEREFORE, in consideration of ten dollars ($10.00) the mutual cov. enants and agreements hereinafter set forth, and other good and valuable consideration, the mutual receipt and legal sufficiency of w_,hich a~ h~eb;y:,a~knowledgedi Town Center and Denton Tap, intending to be legally boui!~i l~¢rebyx'gr~; ~"V?ant and agree as follows: TRUE AND CORRECT COPY OF ORIGINAL FILED IN DALLAS gOIJNTY C,I.£RI~'8 PFFI~[ ARTICLE I - GRANT OF EASEMENTS Section 1.01. Driveway Easements. (a) Denton Tap hereby grants, bargains, sells an~t conveys to Town Center, for the benefit of the Town Center Parcel, the Denton Tap Easement Parcel. The term "Denton Tap Easement Parcel" means a perpetual, non-exclusive easement and right to the use of those portions of the Denton Tap Parcel, described as an approximately rectangular area having as its (i) northemly boundary the boundary line between the Town Center Parcel and the Denton Tap Parcel, (ii) southernly boundary a line parallel to such northernmost boundary of the Denton Tap Parcel twelve feet (12') from such northfrnmost boundary,, (iii) a westemly boundary at the western boundary lines of the Town Center Parcel and the, Denton Tap Parcel, which is the eastemly boundary line of the right-of-way of Denton Tap Road, and (iv) an easternly boundary at the eastemly boundary line of the Town Center Parcel and fire Denton Tap Parcel, which is the westernmost boundary line of the Coppell Middle School North Addition to the Cit3; of Coppell, as shown on the map or plat thereof in Volume 98219, Page 56, of the Deed Records of Dallas County, Texas and as approximately as shown as the cross-hatched area in Schednlb "C", upon and subject to the terms and conditions more particularly set forth herein, for the purposes of free and unobstructed vehicular and pedestrian ingress, egress, passage and delivery over, upon and across the Denton Tap Easement Parcel. (b) Town Center hereby grants, bargains, sells and conveys to Denton Tap, for the benefit of the Denton Tap Parcel, the Town Center Easement Parcel. The term "Town Center Easement Parcel" means a perpetual, non-exclusive easement and right to the use of those portions of the Town Center Parcel, described as an approximately rectangular area having as its (i) southernly boundary line the boundary line between the Town Center Parcel and 'the Denton Tap Parcel, (ii) northernly boundary line a line parallel to such southernly boundary line of the Town Center Parcel twelve feet (12') from such southernly boundary line, (iii) a westernly boundary line at the western boundary lines of the Town Center Parcel and the Denton Tap Parcel, which is the easternly boundary line of the fight-of-way of Denton Tap Road, 0nd (iv) an easternly boundary line at the easternly boundary lines of the Town Center Parcel and the Denton Tap Parcel, which is the westernmost boundary line of the Coppell Middle Sch0olaN0rth Addition to the City of Coppell, as shown on the map or plat thereof in Volume 98219, Page 56, of the Deed Records of Dallas County, Texas, and as approxhtaately shown as the cross-hatched area in Schedule "C", upon and subject to the terms and conditions more particularly~ set forth herein, for the purposes of free and unobstructed vehicular and pedestrian ingress, egres passage and delivery over, upon and across the Town Center Easement Parcel. The DentOn Tas~ ~Easement Parcel and the Town Center Easement Parcel are he~reinafter collectively referred to as the "Driveway Easement Parcels"), upon and subject to the terms and conditions more particularly set forth herein, for the purposes of free and unobstructed vehicular and'pedestrian ' ingress, egress, passage and delivery over, upon and across the Town Center Easement Parcel to i. and from the Town CenterParce[ i :::' ~ (c) The easements granted in Section 1.01(a) an~ 1.01 (b) above shall be for the benefit of, but not restricted solely to, the Owners, and the O~vners may grant the benefit of said Easements to (i) the tenants and other occupants of the Parcels for the duration of such tenancy or occupancy, and (ii) the customers, employees, agents and business invitees of Owners. Notwithstanding the foregoing, the grants of said Easements are not intended to, nor shall they be construed to, create any fights in or for the benefit of the general public; nor shall said grants affect any real property outside of the Parcels. The Easements are reserved for the aforementioned uses for the term of this Agreement. ~ ARTICLE I! - MAINTENANCE AND pPERATION Section 2.01. Construction and Maintenance. ToV~n Center shall construct a'twenty- four foot (24') wide paved roadway to be located on the Driveway Easement Parcels (the "Common Roadway"). The Common Roadway will be cpnstructed approximately one-half (twelve feet in width) on the Town Center Easement Parcel and approximately one-half (twelve feet in width) on the Denton Tap Easement Parcel, includingall associated curb cuts and aisle openings, in accordance with applicable law. The CommonRoadway shall be constructed in a good and workmanlike manner in substantial conformity with applicable law and standards of comparable accessways in the surrounding market area. Town Center shall maintain, repair and replace all improved portions of the Common Roadway in sUch a way as will keep such area at all times in a safe, sightly, good and functional conditionI in conformity with standards of comparable accessways in the surrounding market area. To facilitate such maintenance, repair and replacement, Town Center is hereby authorized to opera~, equip, maintain, insure, replace, repair and police the Driveway Easement Parcels and the Common Roadway in its sole, but reasonable discretion. Section 2.02. Construction and Maintenance Costs.i Town Center shall bear all costs incurred with respect to Town Center's initial construction of the Common Ro~iway. The Owner of the Denton Tap Parcel, other than Denton Tap, fihall be liable to reimburse Town Center for one-half (1/2) of the cost of reasonably necessary maintenance, replacement, and repairs of the Common Roadway and any alterations to th~ Common Roadway required by applicable law effective on the date the Denton Tap Parcel is 4~t? developed and put ihto service for a commercial use. f,~/~ Section 2.03. Liens. (a) In the event that any mechanic's lien is filed agaigst all or any portion of the Town Center Parcel and/or the Town Center Easement Parcel as ia result of services performed or materials furnished by or on behalf of Denton Tap, Denton ~ap agrees to cause such hen to be discharged prior to an entry of final judgment (after all appeals) for the foreclosure of such lien and further agrees to indemnify, defend and hold harmless ~own Center and the Town Center Parcel from and against any liability, loss, damage, cost and/or expense (including 'reasonable attorneys' fees and costs of suit) on account of such claim ofli~n. Upon request of Town Center, Dentqn ~aplagre~!to promptly cause such lien to be released and discharged of record, either by Paying the indebtedness which gave rise to such lien or by posting bond or other security as shall be required by law to obtain such release and discharge, but, ia any event, ~/~l~i~ ?dx/~,4~0~ days ~ ' ' r2~X,'~ '~?,.\ C. OP'~ 0~' ORIL~INAL of filing. Nothing herein shall prevent Denton Tap from contesting the validity thereof in any manner it chooses, so long as such contest is pursued with reasonable diligence; and in the event such contest is determined adversely (allowing for appeal to the highest appellate dburt), Denton Tap shall promptly pay in full the required amount, together ~vith all interest, penalties and other charges imposed thereon, if any, necessary to release such lief. Co) In the event that any mechanic's lien is file~i against all or any portion of the Denton Tap Parcel as a result of services performed or malerials furnished by or on behalf of Town Center, Town Center agrees to cause such lien to be discharged prior to an entry of fihal judgment (after all appeals) for the foreclosure of such lie~ and further agrees to indemnify, defend and hold harmless Denton Tap and the Denton Tap P~cel from and against any liability, loss, damage, cost and/or expense (including reasonable attorneys' fees and costs of. suit) on account of such claim of lien. Upon request of Denton TaI~, Town Center agrees to promptly cause .such lien to be released and discharged of record, either by pay/ng the indebtedness which gave rise to such lien or by posting bond or other security aS shall be required by law to obtain such release and discharge, but, in any event, within thirty ~30) days of filing. Nothing herein shall prevent Town Center from contesting the validity thereof in any manner it chooses, so long as such contest is pursued with reasonable diligence; and in the event such contest is determined adversely (allowing for appeal to the highest appellate court), Town Center shall pro/nptly pay in full the required amount, together with all interest, penalties and other charges imposed thereon, if any, necessary to release such lien. Section 2.04. prescriptive Rights. (a) Town Center reserves the right to close off any or all of the Town Center Parcel, including the Town Center Easement Parcel, for such reaSonable period of time as may be legally necessary, in the reasonable opinion of Town Center'4 counsel, to prevent the acquisition of prescriptive rights by anyone; provided, however, that pritbr to such closing off, Town Center shall give written notice to Denton Tap of its intention to doi so, and shall attempt to coordinate U ~ such closing with Denton Tap so that no nreasonable interference in the passage of pedestrians or vehicles shall occur and no closing shall exceed in the a~gregate twenty-four (24) hours per year. (c) Denton Tap reserves the right to close off any or all of the Denton Tap Parcel, including the Denton Tap Easement Parcel, for such reasonable period of time as may be legally necessary, in the reasonable opinion of Denton Tap's counsel, to prevent the acquisition of prescriptive rights by anyone; provided, however, that prior toi such closing off, Denton Tap shall give written notice to Town Center of its intention to do so, attd shall attempt to coordinate such closing with Town Center so that no unreasonable interference in the passage of pedestrians or vehicles shall occur and no closing shall exceed in the aggregate twenty-four (24) hours'l~er year. (d) ..Section 2.05. Owner's Rights. Subject to the provisions of Section 3.01 hereof, Owners reserve the right to use, and/or modify the use and/or configuration of improvements on, th,~.r res~peefivo.l~cels at any time and from time to time for their own u oses includin W~ ,, ,- . , .... p rp , g, trout hmRatton, for the lnstallat~on, operatron, maintenagce, repair, replacement, removal and/or relocation of utility lines; provided, however, that do such use or modification shall ~c)~;'-,"~':';-->' ] RUE AND CO,,RRLCI ~..~...~.,~z "~'*~"~¢x COPY OF ORIGINAL DALLAS prevent the other Owner from using and enjoying the Driveway Parcel Easements and the Common Roadway contemplated by this Agreement. Each Owner shall have the right to install convenience facilities (such as mailboxes or benches), landscaping, planters, limited curbing or other traffic controls on its Parcel, provided that such ir~provements do not unreasonably interfere with access to or traffic circulation between the Parcels; and further provided that the Owner installing such convenience facilities, landscaping, planters, limited curbing or other traffic controls shall bear the cost of such installation and maif~tenance. ARTICLE III - COVENANTS AND RF4STRICTIONS Section 3.01. Restrictions on Easements The Easements shall be subject to the following restrictions, which shall all be.binding on each Owner and each of its 'tenants, occupants, employees, agents or invitees: The Driveway Easement Parcels and the Commo~ Roadway cannot be relocated, acces_s terminated (subject to the provisions of Section 2.04) ot modified by an Owner ora Parcel without the prior written consent of the Owner of the other Parcel, such consent to bl in the sole discretion of such other Owner. ARTICLE IV - INDEMNIFICATIO~ Section 4.01. Indemnification. Each Owner shall indemnify, defend and hold the other Owner harmless from and against any damages, liability, achons, costs, claims, and expenses (including attorneys' fees in a reasonable amount) suffered by such other Owner in connection with any loss of life, personal injury and/or damage to propexty, including, without limitation, environmental liability and/or cleanup costs, arising from or out of any occurrence in or upon the portion of the Driveway Easement Parcel upon such other Owner's Parcel to the extent caused by the Owner, its tenants, occupants, agents, contractors, employees, licensees, customers and/or invitees. Section 4.02. Liabffi~ Insurance. Each Owner shall maintain comprehensive general liability insurance insuring against claims on account of loss of life, bodily injury or property damage that may arise from, or be occasioned by the condition, use or occupancy of the portion of the Driveway Easement Parcels on such Owner's Parcel. Said insurance shall be carried by a reputable insurance company or companies qualified to do business in the State of Texas. In addition, to the extent permitted by applicable law, Owners hereby waive and release all rights of subrogation they or their respective insurance companies may have against the other under their respective insurance policies. ARTICLE V- TERM Section 5.01. Term. This Agreement and the easements, rights, obligations and liabilities created hereby shall be perpetual and run with the land to the maxinmm extent permitted by appl£qable law. ARTICLE VI - EMINENT DQMAIN Section 6.01. Eminent Domain. In the event the whole or any part of the Easement Parcels shall be permanently taken by right of condemnation, eminent domain or any similar authority of law (a "Taking"), the entire award for the value of the land and improvements so taken shall belong to the Owner of the property so taken or to such Owner's mortgagees or' tenants, as their interest may appear, and no other Owner shall have a right to claim any portion of such award by virtue of any interest created by this Agreement. Any Owner of a Parcel which is not the subject of a taking may, however, file a subsequent, independent claim with the condemning authority, over and above the value of the land being so taken, to the extent of any damage suffered by such Owner as the result of the severance of the land or improvements so taken, if such claim shall not operate to reduce the award allocable to the Parcel taken. ARTICLE VII - REMEDI]~S Section 7.01. Self-Help; Lien Rights Disputes. (a) If either Owner shall default in the performance of an obligation of such Owner (such Owner being herein called a "Defaulting Owner"), which default affects the Owner of the other Parcel or any occupant thereof (an "Affected Party"), such Affected Party, in addition to all other remedies it may have at law or in equity, after ten days' prior written notice to the Defaulting Owner and any Mortgage (as defined hereafter) lender (or in the event of an emergency after such notice as is practical under the cirgumstances), shall have the right to perform such obligation on behalf of the Defaulting Owner, subject to the dispute provisions of Section 7.06. In such event, the Defaulting Owner shall promptly reimburse the Affected Party the cost thereof, together with interest thereon from the date of outlay at a rate equal to the lesser of (i) two percent in excess of the prime lending rate charged by Citibank, N.A. for commercial loans to its most preferred commercial customers or (ii) the hdghest rate permitted by applicable law (the "Interest Rate"). - (b) Any such claim for reimbursement, together with interest thereon as aforesaid, shall be secured by a lien on the Parcel and improvements thereon owned by the Defaulting Owner, which lien shall be effective upon the recording of a notice thereof in the Office of the Clerk of the County in which the Easement is located. Th, lien shall be subordinate to any mortgage or deed of trust now or hereafter affecting the subject Parcel (a "Mortgage") which is of record prior to the date upon which notice of the lien is filed in the said Clerk's office; and any purchaser at any foreclosure or tmstee's sale (as well as any grantee by deed in lieu of foreclosure or trustee's sale) under any such Mortgage shall take title subject only to liens thereafter accruing pursuant to this Section 7.01. Section 7.02. Iniunctive and Other Remedies. In the event of a breach by either Owner of any obligation of this Agreement, the other Owner shall be entitled to obtain an 'injunction specifically enforcing the performance of such obligation; thc Owners hereby acknowledge the inadequacy of legJtl remedies and the irreparab, le harm which would be caused by any such breach. Any action taken or document executed in violation o~'this Agreement shall be void and may be set aside upon the petition of the other Owner. Any costs and e,~enses o[ any such -~E-;:', 7~UE AND CORRECT ':~ FILED IN DALLAS certified mail, postage prepaid, return receipt requested, addressed to the appropriate party at its address set forth below, or at such other address as such party shall have last designated by notice to the other. Notices, demands, consents, approvals, and other communications shall be deemed given (i) three days after mailing, (ii) on the date delivered if by hand, or (ii) the day following mailing if sent by ovemight mail. To Town Center: Town Center Holdings, inc. 721 Marlee Circle Coppell, Texas 75019 Attn: Ed Thomas With a copy to: Charles T. Clark, Esq. Clark Law Firm PC 1000 Providence Towers: East 5001 Spring Valley Road Dallas, Texas 75244 To Owner: Denton Tap Development, LLC Attn: John B. Urbahns 280 East 96th St., Suite 250 Indianapolis, Indiana 462~40 With a copy to: Denton Tap Development, LLC Attn: Stephan R. Thompson 1400 Noel Road Suite # 1023 Dallas, Texas 75240 Barbara A. Wolenty, Esq. Robinson Wolenty & Young, LLP 8888 Keystone Crossing, Suite 710 Indianapolis, Indiana 46240 Notices may be given by counsel for the parties described above, and such Notices shall be deemed given by Seller or Purchaser, as the case may be, for alt purposes.hereunder ARTICLE IX- MISCELLANEOUS Section 9.01. Severabili .ty. If any provision of this Agreement, or portion there~of,' or the application thereof to any person or circumstances, shall to any extent be held invalid, inoperative or unenforceable, the remainder of this Agreenlent, or the application of such provision or portion thereof to any other persons or circumstances, shall not be affected thereby; it shall not be deemed that any such invalid provision affects the consideration for this Agreement; and e~h provision of this Agreement shall be valid and enforceable to the fullest extent permitted bY:law. COPY OI- ON!G?;qAL FLIED !~i DALLAS IN WITNESS WHEREOF, the parties hereto have ~aused this Agreement to' be executed as of the day and year first above written. STATE OF TEXAS COUNTY OF 2'2~-~.~ DENTON TAP DEVELOPMENT, LLC, ' ~7~~mpany ' /~offm B, Urba-hns, Member . This said corporation. My Commission Expires: instrument was acknowledged before me on this the , 2004, by 'P~K.~ l~,lk.~- day of - , the _ of TOWN CENTER HOLDINGS, INC., a#Texas corporation, on behalf of Notary Public in and ~ th¥State of Texas Print/Typed Name of Notary STATE OF COUNTy This instrument was acknowledged before me on this the ,~-xv'Sk da,, of (~,,_L~t-~ , 2004, by John B Ur~-~-~ -'- · '-~ v . omma, me mem*er of DENTON TAP DEVELOPMENT, LLC, an Indiana limited liability company, om behalf of said limited, ability company. ota~ Public in and for the State of ~ k~t & ~ : My Co~nmission Expires: ~ i Prin~yped~Name of N~ta? ,-~E~.~. TRUE AND CORRECT ,C-~ COPY OF ORfGIN~/ COUNT, ,.IER~.. OFFICE SCHEDULE A TOWN CENTER TRACT LEGAL DESCRIPTION Being a part of a called 7.223 acre tract of land situated in tha G.C.Woolsey Survey Abstract No. 1402, and the Clarinda Squires Survey, Abstract No. 132~, City of Coppell, Dallas County, ' Texas, said 7.223 acre tract being described in a deed to Dentbn Tap Development, LLC of : record in Volume 9917 I, Page 2395, Deed Records, Dallas Cbunty, Texas, and being more particularly described as follows: Beginning at a ¼" iron rod set for comer in the East right-of-Way line of Denton Tap Road (var/able width right-of-way) at the Southwest comer of Dynasty Cleaners Addition, an addition to the City of Coppell, Dallas County, Texas, according to the~plat thereof recorded in Volume 2002124, Page 57, Deed Records, Dallas County, Texas; Thence East, along the South line of said Dynasty Cleaners A~tdition, a distance of 2 ~4.44 feet to a ½" iron rod found for comer at the Southeast comer thereof and being the most Westem comer of Jack in the Box Addition, an addition to the City of Coppell, Dallas County, Texa~, according to the plat thereof recorded in Volume 2000176, Page 703, Deed Records, Dallas County, Texas; Thence South 46 degrees, 57' 37" East, along the Southwest line of said Jack in the Box Addition, a distance of 105.22 feet to a point for comer at the lqorthwest comer of Coppell Middle School Addition, an addition to the City of Coppell, Dallas County, Texas, according to the plat thereof recorded in Volume 98219, Page 56, Deed Reoords, Dallas County, Texas, fi.om which a "P.K." Nail found for reference bears South 78 degrees, 46' 47" East, a distance of 1.05 feet; Thence South 00 degrees 42' 23" West, along the West line of said Coppell Middle School Addition, a distance of 168.82 feet to an "x" set for comer; Thence West, a distance of 292.19 feet to an "x" set for comer in the East right-of-wag line of said Denton Tap Road; . Thence North 00 degrees 41' 48" East, along the East right-of-Way line of said Denton Tap Road, a distance of 240.64 feet to the place of beginning and containing 1.550 acres of land. ScHEDuLE B DENTON TAP PARCEL LEGAL Dt~SCRIPTION BEING a 7.223 acre tract of land situated in thc G. C. WOOLSEY SURVEY, ABSTRACT NO. 1402, and the CLARINDA SQUIRES SURVEY, ABSTRA(~T NO. 1327, in City of Lewisville, Dallas County, Texas and being a portion of that tract of land ~escribed in deed to Vista Partners, recorded in Volume 93184, Page 4500, of the Deed /~ecords of Dallas County, Texas (D.R.D.C.T.), said 7.223 acre tract being more particularly described by metes and bounds as follows: BEGINNING at a 5/8 inch iron rod capped "Carter & Burge~s" found for the Northwest comer of Coppell Middle School North Addition, an Addition to thei City of Lewisville, Dallas County, Texas, recorded in Volume 98219, Page 56 D.R.D.C.T., saidipoint being in the South Right-of- Way (R.O.W.) line of Vista Ridge Boulevard (variable wifith R .... ' Clerks File No. 94~R0000002 of the Deed Records ofDentoniCount~, ~Ve~}s~ec°rded. In County THENCE along the West line of said Coppell Middle Sctmol Addition, the follbwing three courses and distances: SOUTH 00 degrees 42 minutes 23 seconds West, a distance 0f 302.38 feet to an "x" cut set for comer; NORTH 78 degrees 46 minutes 39 seconds West, a distance 0f406.83 feet to a P.K. nail set for comer; SOUTH 00 degrees 42 minutes 23 seconds West, a distance 0f 675.76 feet to an "x"--cut set for comer in the North R.O.W. line of Natches Trace Drive (variable width R.0.W.), recorded in Volume 98219, Page 56, D.R.D.C.T.; THENCE along the North R.O.W. line of said Natches Trace Drive, the following thr~ee courses and distances: . ALONG a curve to the right having a radius of 270.00 feet, a d~lta angle of 2 degrees 14 minutes 35 seconds, a chord bearing North 33 degrees 51 minutes 59 Seconds West, a distance of 10.57 feet, and an arc length of 10.57 feet, to an "x" cut set for comer; ALONG a curve to the left having a radius of 338.00 feet, a delta angle of 54 degrees 40~rainutes 50 seconds, a long chord that bears North 60 degrees 05 minu~es 07 seconds West a distance of 310.47 feet, an arc distance of 322.57 feet to an "x" cut set for oomer; NORTH 40 degrees 38 minutes 38 seconds West, a distance 0£22.88 feet to a 5/8 inch iron rod capped "Carter & Bdrgess" set for the intersection of the North Right-of-Way line of said Natches Trace Drive ? and the East Right-of-Way line of D~nton Tap Road (variable width R.O.W.), i'ecorded in Volume 98252, Page 6839 D.R.D.C.T.; THENCE North 00 degrees 41 minutes 48 seconds East, along the East Right-ot:~Way line of said Denton Tap Road, a distance of 566.59 feet to a 5/~ inch iron rod capped "Carter & Burgess" set for comer; THENCE departing said East Right-of-Way line, over and [across said Vista Partners tract the following two (2) courses and distances: NORTH 90 degrees 00 minutes 00 seconds East, a distance 9f 214.44 feet to a 5/8 inch iron [od capped "Carter & Burgess" set for comer; NORTH 18 degrees 14 minutes 12 seconds East, a distance 9f251.85 feet to a 5/8-inch. iron rod capped "Carter & Burgess" set for comer-in the South Right-of-Way line of said Vista Ridge Boulevard; THENCE along said South Right-of-Way line, along a cUKVe to the left having a radius of 2879.79 feet, a delta angle of 08 degrees I0 minutes 18 seconds, a long chord that be~.rs South 77 degrees 38 minutes 32 seconds East a distance of 410.38 fe~t, an arc distance of 410.73 feet to the POINT OF BEGINNiNG, and containing 7.223 acres ofh~nd, more or less. · TOGETHER WITH appurtenant easement and other right~ as contained in proposed Cross Access Easement Agreement by and between Centex Devel~)pment Company and Denton Tap Development, LLC, dated August 25, 1999, filed September' 1~, 1999, recorded in Volume 99171, Page 2413, Deed Records, Dallas County, Texas, said Cross Access Easement tracts "2-A" and "2-B" being more particularly described as follows: Except for the following described parcel: Jack in the Box Addition, Lot 1, Block l, an addition to th~ City of Coppell, Dallas County, Texas, according to the plat thereof recorded in Volume 2q00176, Page 703, Map records of Dallas County, Texas. Except for the following described parcel: Being a tract of land situated in the G.C. Woolsey Survey, iAbstract No. 1402 in the City of Coppell, Dallas County, Texas and being a portion of a parcel of land deeded to Denton Tap Development, LLC as recorded in Volume 99171, Page 2395 of the Dead Records of Dallas County, Texas, said tract of land being described by metes andbounds as follows: Beginning at a found 5/8 inch capped iron rod "CARTER BUtvr'-~ee ..... sara ~enton tap Development, LLC tract, said found 5/8 Inch capped iron rod ("CARTER URGESS ) also being the most northerly northwest comer lof Lot 1, Block G of the Coppell .. Middle School North Addition as recorded in Volume 9821,,gLPage 56 of the Deed Records of Dallas County, Texas, said found 5/8 inch capped iron rod (;'CARTER BURGESS") also being on the southerly rig~ht-of-way line of State Highway 121 By-l~ass, a variable width right-of-way otherwise~known as Vista Ridge Boulevard; Thence South 00 degrees 42 minutes 23 seconds West, along the East line of said Denton Tap Development, LLC tract and along the West line of said Lot 1, a distance of 302.06 feet to a set fou ' "+" ' no in concrete; Thence North 78 degrees 45 minutes 39 seconds West, along a South line of said Denton Tap Development, LLC tract and along a North line of said Lot 1~ a distance of 332.06 feet to a set 5/8 inch capped iron rod ("BHB INC"); Thence North 13 degrees 32 minutes 33 seconds East, departi/~g a South line of said Denton Tap Development, LLC tract and de,p, arting a N,o, rth line of said Lgt I, a distance of 296.09 feet to a set 5/8 inch capped iron rod ( BHB INC ) on the southerly right-of-way line of s~tid State Highway 121 By-Pass, said set 5/8 inch capped iron rod als0 being on the North line of said Denton Tap Development, LLC tract, said set 5/8 inch capped~ron rod also being at beginning of a curve, concave northerly, having a radius of 2879.79 feet, a delta angle Of 05 degrees 16 minutes 19 seconds, a chord length of 264.89 feet and a chord bearing of South 79 degrees 05 minutes 31 seconds East; Thence Easterly, along said curve and along the southerl31 right-of-way line of said State Highway 121 By-Pass, an arc length of 264.98 feet to the POINT OF BEGINNING, containing 87,997 square feet or 2.020 acres. Except for the following described parcel: WT-IEREAS Denton Tap Development, LLC, is the owner of a tract of land situated in the Clarinda Squires. Survey, Abstract No. 1327 and the G. C. W(~olsey Survey, Abstract No. 1402, in the City of Coppell, Dallas County, Texas, and being a poflion of a called 7.223 acre tract of land conveyed to said Denton Tap Development, LLC as evidbnced in a Special Warranty Deed recorded in Volume 99171 at Page 2395, of the Deed Rbcords of Dallas County, Texas (D.R.D.C.T.), being the same property described on that certain survey prepared by Michael B. Marx, Registered Professional Land Surveyor No. 5181, dated February 18, 2003, and being more particularly described by metes and bounds as follows ~earings based on the West line of Coppell Middle School North Addition, an Addition to the Ci~ of Coppell, Texas, a~cording to the Map or Plat thereof recorded in Volume 98219 at Page 005~ Deed Records of Dallas County, Texas, said bearing being North 00 degrees 42 minutes 23 secoiads East): BEGINNING at a 5/8 inch "BDD" capped iron rod set for tho current intersection of the North fight-of-way line of Natches Trace Drive (a variable width fight-of-way) with the East right-of- way line of Denton Tap Road (a variable width fight-of-way), same being the most southerly, Southwest comer of said 7.223 acre tract; ~- THENCE North 40 degrees 38 minutes 38 seconds West, alon~ the East right-of-way line Of said Denton Tap Road and the West line of said 7.223-acre tract, a distance of 22.88 feet to a 5/8-inch "BDD" capped ironTod set for a comer; THENCE North 00 idegrees 41 minutes 48 seconds East, continuing along the East right-of-way line of said Denton Tap Road and the West line 0f said 7.223 a e tract, a distance of 118.29 feet to a 5/8 inch "BDD" capped iron rod set for a comer; THENCE South degrees 18 minutes 12 seconds East, depa~ing the East right-of-way line of 89 said Denton Tap Road, a distance of 292.13 feet to a 5/8-inch 'IBDD" capped iron rod set on the West line of aforesaid Coppell Middle School North Addition; THENCE South 00 degrees 42 minutes 23 seconds West, alcng the West line of said Coppell Middle School North Addition, a distance of 295.72 feet to a chiseled cross set for a comer on the curving North right-of-way line of aforesaid Natches Tra< :e Drive, said curve being a non- tangent curve to the right at this point; THENCE in a Northwesterly direction, along the North right-~ fi-way line of said Natches Trace Drive, the following; Along the arc of said curve to the right, through a central argle of 02 degrees 14 minutes 35 seconds, having a radius of 270.00 feet, a chord bearing of North 33 degrees 51 'minutes 59 seconds West, a chord distance of 10.57 feet and an arc lengtlt of 10.57 feet to a chiseled cross set for the point of reverse curvature of a curve to the left; ~ Along the arc of said curve to the left, through a central an seconds, having a radius of 338.00 feet, a chord bearing.of seconds West, a chord distance of 310.47 feet and an arc lengtl BEGINNING and containing 1.217 acres (53,013 square feel with abutter's rights of access to end from the physically open: and Natches Trace Drive, Coppell, Dallas County, Texas. Except for the following described parcel: Being a part of a called 7.223 acre tract of land situated in the ( No. 1402, and the Clarinda Squires Survey, Abstract No. 1327. Texas, said 7.223 acre tract being described in a deed to Dentol record in Volume 99171, Page 2395, Deed Records, Dallas Co' particularly described as follows: ;le of 54 degrees 40 minutes 51 ~qorth 60 degrees 05 minutes 07 t of 322.57 feet to the POINT OF ) of land, more or less, together treet known as Denton Tap Road .C.Woolsey Survey, Abstract City of Coppell, Dallas County, Tap Development, LLIC of nty, Texas, and being more / Beginning at a ~" iron rod set for comer in the East right-of-w* line of Denton Tap Road (variable width right-of-way) at the Southwest comer of Dynast~, Cleaners Addition, an Addition to the City of Coppell, Dallas County, Texas, according to the plat thereof recorded in Volume 2002124, Page 57, Deed Records, Dallas County, Texas; I Thence East, along the South line of said Dynasty Cleaners Adc a ¼" iron rod found for comer at the southeast comer thereof ar of Jack in the Box Addition, an addition to the City of Coppell, to the plat thereof re~orded in Volume 2000176, Page 703, Dee, ition, a distance of 214.44 feet to d being the most Western comer Dallas County, Texas, according [ Records, Dallas County, Texas; IRUE AND ,~ORRcC7 COP~,' OF OR!GII'~AL FII FB Ih113~111 tiff SCHEDUL~ C SEQ 121 COPPELL PLAC BYPASS AND DENTON TAP ROAD COPPELL~ TEXAS 0 OTHER LOT D I LOT LOT F LOT ..~ G BOX LOT LoT A DENTON CREEK ELEMENTARy SCHOOL COPPELL ?m i, 2 2 TRUE AND CORRECT COPY OF ORIGINAL FILED IN DALLAS COUNTY CLERK'S OFFICE