12-33 - R TOWN OF PROSPER, TEXAS RESOLUTION NO, 12-33
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS,
HEREBY AUTHORIZING THE TOWN TO ENTER INTO THE ESTOPPEL LETTER
REGARDING INFRASTRUCTURE AGREEMENTS.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF PROSPER, TEXAS:
SECTION 1: The Town of Prosper, Texas, hereby enters into the Estoppel Letter
Regarding Infrastructure Agreements.
SECTION 2: The Town Manager of the Town of Prosper, Texas, is hereby
authorized to execute, on behalf of the Town Council of the Town of Prosper, Texas, an
Estoppel Letter Regarding Infrastructure Agreement.
SECTION 3: This Resolution shall take effect on May 22, 2012.
APPRO(VyD: N
A
Ray Smith, M:yor
ATTEST TO:
Amy Piukan.-!T'TC
Town Secretary
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TOWN OF
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Prosper is a place where everyone matters.
May 29,2012
Mr.D. Craig Martin
TVG Texas I,LLC
2241 E. Continental Blvd., Suite 140
Southlake, Texas 76092
RE: Request for Estoppel Letter ("Estoppel Letter") from the Town of Prosper,
Texas ("Town"),regarding the Assignment and Assumption Agreement
for Infrastructure Agreements("Assignment")
Dear Mr. Martin:
You have requested that the Town provide you with this Estoppel Letter regarding
the above-referenced Assignment. While the Town is not obligated to provide TVG
Texas I, LLC, a Texas Iimited liability company, ("Terra Verde") with such letter, the
Town, in an effort to work with you and Forest City Prosper Limited.Partnership, a Texas
limited partnership, ("Forest City") in this transaction, is willing to inform you of the
matters set forth herein.
On May 22, 2012, the Town Council passed Resolution No. 12-32 which
approved the above-referenced Assignment. On that same date, the Town Council
approved Resolution No. 12-33, authorizing the Town Manager to issue this Estoppel
Letter; however, the Estoppel Letter made the subject of Resolution 12-33 inadvertently
contained the incorrect form of the Assignment which was approved under Resolution
12-32; therefore, the Town is issuing this corrected Estoppel Letter for the purpose of
remedying the inadvertent clerical error. The effective date of this Estoppel Letter shall
be May 23,2012,
Mr.D. Craig Martin
May 29,2012
Page 2 of 25
The form of the Assignment, approved by the Town pursuant to Resolution 12-32,
is attached hereto as Exhibit "A" and incorporated herein for all purposes. In
consideration for the Town's provision of this Estoppel Letter, the Town is tendering the
same strictly contingent on the Assignment, in the form attached hereto, being executed
by all necessary parties and all provisions set forth therein being satisfied. As additional
consideration and as a further condition for providing this Estoppel Letter, the Town is
relying on the representations and warranties set forth herein, as well as in the
Assignment.
You have represented and warranted to the Town that Terra Verde Group, LLC
has entered into a contract with Forest City to purchase the remaining approximate 2,030
acres of real property (defined in the Assignment as the Remaining Property), which
property includes a portion of the Property; defined in and made the subject of the
Infrastructure Agreements, containing 456.594 acres of land known as the Forest City
Tract, which contract was assigned to Terra Verde on May 18, 2012 ("Contract
Assignment").
To the best of the Town's knowledge and belief, but without waiving its rights
under the Infrastructure Agreements, as of the date of this Estoppel Letter, no material
default exists under the Infrastructure Agreements, and the Infrastructure Agreements
remain in full force and effect. Should, after the date of this Estoppel Letter, the Town
discover a breach and/or default of either or both of the Infrastructure Agreements,
which occurred prior to the Effective Date (as defined in the Assignment), the Town
will, within a reasonable time of such discovery, notify, in writing, Forest City and Terra
Verde of said breach and/or default. In this connection, because the Town desires for the
project made the subject of the Infrastructure Agreements to succeed, the Town has
made efforts to work with the parties thereto, and therefore, while the parties of the
Infrastructure Agreements may not be in strict compliance with each covenant and
condition, the Town offers, in addition to the other matters set forth herein, that (i) the
Town has not given, and is not aware that any other party has given, a notice to any other
party of failure to comply with any provision of the Infrastructure Agreements; and (ii)
no outstanding monetary obligations are presently owed to the Town by any party under
the Infrastructure Agreements.
In the event of any inconsistency between the terms and conditions of the
Infrastructure Agreements and this Estoppel Letter, the terms of the Infrastructure
Agreements shall govern and control. All terms used herein shall have the same
meaning as in the Infrastructure Agreements.
Notwithstanding anything to the contrary herein, this Estoppel Letter shall be
governed by and construed in accordance with the laws of the State of Texas, and
exclusive venue shall lie in Collin County, Texas.
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Mr.D. Craig Martin
May 29, 2012
Page 3 of 25
This Estoppel Letter may be executed in one or more counterparts, each of which
when so executed shall be deemed to be an original, but all of which when taken together
shall constitute one and the same instrument.
The foregoing statements may only be relied upon by Terra Verde, its assignees,
. and lenders and shall not benefit any third party, except as expressly provided herein.
1 All warranties, representations and covenants made by Terra Verde to the Town as
set forth in this Estoppel Letter shall be considered to have been relied upon by the Town,
i regardless of any investigation made the Town.
Additionally, this letter is being tendered to Terra Verde strictly contingent upon
the Town receiving a copy of the Contract Assignment and the fully executed
Assignment, including any obligations set forth therein, within thirty (30) days of the date
of this letter. Otherwise, this Estoppel Letter shall become null and void and of no force
and effect.
The Town will place a resolution amending Resolution No. 12-33 and ratifying the
execution of this correcteavtt p41Letter on the agenda of the Town Council's June 12,
2012 regularly schedikl, ' ng��",o, ,
```%0� ,•........�.O�,�i�� Regards,
l• : °: t‘ c THE TOWN OF,'" 'ER, TEXAS
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'tee •.r . ike Lan t, Town Manager
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AGREED AS TO THEY()' �feS. R*CONTENT OF THIS ESTOPPEL LETTER:
FOREST CITY PROSPER LIMITED PARTNERSHIP,
a Texas limited partnership
M
By: FC Prosper Partner, Inc.,
`* a Texas corporation
Its: General Partner
By:
1
1 Printed Name:
Li1
t Title:
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Date:
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Mr.D. Craig Martin
May 29,2012
Page 3 of 25
This Estoppel Letter may be executed in one or more counterparts, each of which
when so executed shall be deemed to be an original, but all of which when taken together
shall constitute one and the same instrument.
The foregoing statements may only be relied upon by Terra Verde, its assignees,
and lenders and shall not benefit any third party, except as expressly provided herein.
All warranties,representations and covenants made by Terra Verde to the Town as
set forth in this Estoppel Letter shall be considered to have been relied upon by the Town,
regardless of any investigation made the Town.
Additionally, this letter is being tendered to Terra Verde strictly contingent upon
the Town receiving a copy of the Contract Assignment and the fully executed
Assignment,including any obligations set forth therein, within thirty(30) days of the date
of this letter. Otherwise, this Estoppel Letter shall become null and void and of no force
and effect.
The Town will place a resolution amending Resolution No. 12-33 and ratifying the
execution of this corrected Estoppel Letter on the agenda of the Town Council's June 12,
2012 regularly scheduled meeting.
Regards,
THE TOWN OF PROSPER, 11,XAS
By:
Mike Land, Town Manager
AGREED AS TO THE FORM AND CONTENT OF THIS ESTOPPEL LETTER:
FOREST CITY PROSPER LIMITED PARTNERSHIP,
a Texas limited partnership
By: FC Prosper Partner, Inc.,
a Texas corporation
Its: General P er
By: 1 L.
Printed Name: es rilyvhz)/
Title: f /4'
Date: P _..
a609999
Mr. D. Craig Martin
May 29, 2012
Page 4 of 25
EXHIBIT "A"
Form of the
Assignment
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i ASSIGNMENT AND ASSUMPTION AGREEMENT
FOR INFRASTRUCTURE AGREEMENTS
• THIS ASSIGNMENT (this "Assignment") is executed as of ,
2012 ("Effective Date"), by and between FOREST CITY PROSPER LIMITED
PARTNERSHIP,a Texas limited partnership("Assignor"),and TVG TEXAS I, LLC, a
Texas limited liability company ("Assignee"), upon the terms and conditions set forth
below.
•
RECITALS
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WHEREAS, concurrently herewith, Assignor is conveying to Assignee
approximately 2,030 acres of certain real property ("property"), together with all
improvements thereon, situated in the Town of Prosper, Denton County, Texas, in
accordance with the terms of that certain Contract for Sale and Purchase of Unimproved
Real Property between Assignor and Terra Verde Group, LLC, dated as of March 30,
2012,as amended,which contract was assigned to Assignee on May 18,2012("Contract
Assignment"). The Property is more particularly described in Exhibit "A", attached
hereto and incorporated herein for all purposes;and
WHEREAS, Assignor desires to assign, transfer and deliver and grant, sell and
convey to Assignee,and Assignee desires to acknowledge and assume, all of Assignor's
rights, title, obligations, covenants, interest and conditions in and to: (I) that certain
1 Water and Sewer Improvement Development Agreement between Assignor, Prosper
Partners, L.P. and the Town of Prosper, dated September 15, 2011, as supplemented by
that certain letter escrow agreement,dated October 10,2011,and subsequently amended
by that certain First Amendment to Water and Sewer Improvement Development
I Agreement, dated October 25, 2011, and further subsequently amended by that certain
Second Amendment to Water and Sewer Improvement Development Agreement, dated
May 22, 2012 (collectively, the "Development Agreement") and (2) that certain Water
and Sewer Improvement Construction Agreement between Assignor and Prosper
Partners,L-P.,dated October 27,2011(the"Construction Agreement")(the Development
Agreement and Construction Agreement are collectively referred to herein as, the
6 "Infrastructure Agreements"),with respect to the 456.594 acres of the Property owned by
Assignor(defined as the"Forest City Tract" in the Infrastructure Agreements),as more
particularly described in Exhibit"B", attached hereto and incorporated herein for all
purposes.
INOW, THEREFORE, in consideration of the foregoing and other good and
valuable consideration in hand paid by Assignee to Assignor,the receipt and sufficiency
of which are hereby acknowledged,Assignor and Assignee agree as follows:
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1. Assignor hereby assigns, transfers and delivers and grants, sells and
conveys to Assignee all of Assignor's rights, title, obligations, covenants, interest and
• conditions in and to the Infrastructure Agreements with regard to the Forest City Tract,
from and after the Effective Date(collectively,"Assigned Rights and Obligations").
.y
2. Assignee hereby expressly acknowledges,assumes and agrees to perform,
solely and completely, all of the Assigned Rights and Obligations, from and after the
Effective Date,and agrees to be bound by the terms and conditions of the Infrastructure
Agreements with regard to the Forest City Tract.
3. Assignor hereby acknowledges,represents and warrants that from and after
the Effective Date of this Assignment it has absolutely no rights, title, obligations,
covenants, interest and conditions as to the Forest City Tract and/or any other property
described in the Infrastructure Agreements.
.•
4. Pursuant to Section 10 of the Development Agreement and Section 20 of
the Construction Agreement,any notice,communication,request,reply or advice(herein
• severally and collectively,for convenience,called"Notice")provided or permitted under
this Assignment or the Infrastructure Agreements must be in writing and may be served
by depositing same in the United States mail, addressed to the Party (as defined in the
Infrastructure Agreements) to be notified, postage pre-paid and registered or certified
with return receipt requested, or by delivering the same in person to such Party via a
1 prepaid hand-delivery service, Federal Express or any courier service that provides a
return receipt showing the date of actual delivery of same to the addresses thereof.
i Notice given in accordance herewith shall be effective upon receipt at the address of the
addressee. For purposes of notice,the address of Assignee,until changed as provided for
in the Infrastructure Agreements,is as follows:
•
If to Assignee,addressed to it at:
1 D.Craig Martin
`1 TVG Texas I,LLC
2241 E.Continental Blvd.,Suite 140
Southlake,Texas 76092
Telephone:(469)855-8300
Facsimile:(972)982-2724
5. This Assignment may be modified only in writing,signed by Assignor and
Assignee,or their respective heirs,successors or assigns in accordance with Section 26 of
the Development Agreement.
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6. This Assignment shall be binding upon and inure to the benefit of Assignor
and Assignee and their respective heirs, successors and assigns(as authorized in Section
•
26 of the Development Agreement).
7. Assignor shall provide the Town of Prosper, Texas with a fully executed
j copy of this Assignment. This Assignment shall be governed by the laws of the State of
Texas. This Assignment shall be effective on the Effective Date.
8. The representations, covenants and recitations set forth in the foregoing
Recitals of this Assignment are true and correct and are hereby incorporated into the body
of this Assignment and adopted as finds of the respective authorized representatives of
Assignor and Assignee.
9. All warranties, representations and covenants made by Assignor herein
have been made for the benefit of Assignee and the Town and shall be considered to have
been relied upon by Assignee and the Town,regardless of any investigation made by the
Town. The Town shall be a third party beneficiary to this Assignment for the purpose of
the warranties,representations and covenants made by Assignor herein.
IN WITNESS WHEREOF,the undersigned have executed this Assignment to be
effective on the Effective Date.
ASSIGNOR:
FOREST CITY PROSPER LIMITED
PARTNERSHIP,a Texas limited partnership
By: FC Prosper Partner,Inc.,a Texas
corporation,its general partner
By:
Printed Name:
Title:
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May 29,2012
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ASSIGNEE:
TVG TEXAS I,LLC,
I a Texas limited liability company
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.I By: BP Terra Verde Investors,.LLC, .
a Delaware limited liability company
• Its: Sole Manager
By:
Printed Name:
Title:
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TIIE STATE OF TEXAS §
§
j COUNTY OF §
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:j BEFORE ME, the undersigned authority, on this day personally appeared
of FC Prosper Partner, Inc., a Texas corporation,
general partner of Forest City Prosper Limited Partnership, a Texas limited partnership,
known to me to be the person whose name is subscribed to the foregoing instrument,who
acknowledged to me that he or she executed said instrument for the purposes and
• consideration therein expressed.
WITNESS BY HAND AND SEAL this day of ,2012.
Notary Public in and for the State of Texas
• THE STATE OF TEXAS §
§
•
COUNTY OF §
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BEFORE ME, the undersigned authority, on this day personally appeared
of BP Terra Verde Investors,
LLC, a Delaware limited liability company, Sole Manager of TVG TEXAS I, LLC, a
Texas limited liability company,known to me to be the person whose name is subscribed
;! to the foregoing instrument, who acknowledged to me that he or she executed said
instrument for the purposes and consideration therein expressed.
WITNESS BY HAND AND SEAL this day of ,2012.
i
• Notary Public in and for the State of Texas
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EXHIBIT "A"
• Legal Description of the Property
•
METES AND BOUNDS DESCRIPTION
2028.5115 ACRES
BEING a traet of land out of the M.B.P.&P.R.R.SURVEY,Abstract No.1476.P.BARNES
SURVEY,Abstract No,79,the 13.HAI2GES SURVEY;Abstract No.593;Ike A.B.JA\IISON
SURVEY.Abstract No.672_the B.B.WAL'TON SURVEY,Abstract No.1369,the t BUTTON
SURVEY. Abstract No. 88, the P.R. RUE SURVEY, Abstract Mn. 1555, the J. TETTER
SURVEY,Abstract No: 1262,the 1:. NETHER IX SURVEY.Abstract No.962.the B.RUE
SURVEY,Abstract No.1113.the A.ROBERTS SURVEY,Abslract No.1115.the R.YATES
SURVEY, Abstract Was. 1538.the 1..RUE SURVEY.Abstract No. 1110,the.1. MORTON
SURVEY:Alxtract No.793,Ms'H.P.SAIINC1.SURVEY, Abstnict No. 1628,the.I.BATES
SURVEY.Abstract No.1620,the C.Wall_SURVEY,'Abstract No.1681.and the L.SALMNG
SURVEY.Abstract No. 1675.in Fenton County,Texas.being part of a called 1.616.90 acre
tract of land described in deed to Forest City Prosper Limited Partnership.recorded in Document
Number 2011-34763.Deed Reenrds of'Denton County.Teas(I)R1)CT)(herein referred to as
Tract I).and being part of those curiaiu tracts described lit decd to sante,recorded in Document
Numbers 2007-144190(herein referred to as Trait 2)and 2008.9955(herein ref-rrcd to as Tract
3).DRDCT.and being port or thal certain tract described in deed to\laltard 2003. PS. LP.
recorded in Document Number 2004-63827.DRDCT,and being more particularly described as
follows:
BEGINNING at n PK Nail found at the approximate centerline intersection of Fish Trap Road
and Fields Road;at the northeast cooler of Tract 2:
"R-I INCE along Fields Road.the following courses:
S 00`W44"E.2327.49 feet
S 89'2516"W.21.23 feet
And S 00'0117"E,502.49 feet to a point for the northeast corner of that cettaut tract
described in deed In Richard and Nathan Bethke,recorded in Document Number 2007-
i 144901 DRDCT.slid point being on the approximate eentefline of a eme1::
311I(NCiS along said creek and the common line al'said Bontke iracK.the following courses,all
to points for corner:
• S 66'44'iif'W,11,20 feat; S 21'01'16"W.17,75 feet; S 26'27'27"W:12.20 feet
5.32"45'20"W,23.11 feet; S 30°59'18"W.20,67 feet; S 37't 1'19"W.2122 feet
S 60428'18"W,22.38 feet; S 69'59.21"W,88.69 feet; N 80`38'48"W,12,116 feet;
N 66"2207'V. 65.21 feet; N 61''03'03"Ni,47.42 feet: S sksj'ir w,15.58 feet:
• N 83'3945 W,22.37 Teat:N 44'27'19"W.17.63 lest;N I9"201 L W.52.98 Poet:
N38'1044"W,17.58 feet; N 57'56'15"W.39.05 feel;N 74`26'38"W,35,89 feet
N 73"55'32"W.1.20.74 feet N 82"33'23"W,38.11 feet: N 88"19'50'W.25.45 reel
N 85:3{)'03"W.35.61 Leet N 81'41'39"W.22;21 feet:1489'29'59" 28.40 feet:
S 75"32'411."W.23.72 feet; S 86"52'18"NV,36.11 feet; N 87`03'12"W.33.63 feet;
N 83"51:37"W.36.91 feel: N 72'58'42"W.44.69 feet: S 82'23'06"W,31.65 feel:
N 7253957"W.57.37 feat; S 85"59'22"W.27.91 feet; N 71."41'35"W,37.72 tact;
N 68'1749"N#,31.37 feet; N 6327'08"W.20.98 feet; N SO"08'47"W.42.04 feet
S 86"28x4"W.20.04 toy; N 85''29'57"W.31.46 feel; N 81"15'31"W.35.73 tees;
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• N 77'211'51"\V.34.931ec1; N 73"I5'04"W;25.19 feet; N 69'0114'W.122.73 feet
N 8$"'23.15"W.;45.13 feet: N 84'15'03"W,34.50 feet; N 6$3521"W,2096 feet:
• N 89°38'54"W.40.51 feet; S 77'55'05"W.10.61 feet;S 60"58'09"W.17.80 net;
S 33"33'22"w,,24.30 feet; S 31"22'02"W,38,44 net; 848'21'1 R"W,32.92 feat;
S 63"27'27"W,17,12 feet: S 76°1731"W.21.86 net; S 77'22'23"W,68:85 feet;
•
S 84''32'16"W.57:26 feet: S 89"34'04"W,32.60 feet; N 89"1619"W,113.26 net:
S 76'15'03"W.113.15 feet.S 84"15'01"W.66.7 0 feat; S 89'47'00"W.64.46 Feet
N 8S°07'24"W.20.74 feet: N 71°27'35"W.38.03 feet: N 65'46.21"W.40.90 feet;
N 61"2246"W,39.67 feet; N 53"54'49"V1t,25.98 feet; N 38°29'00"W,25.14 feel:
- N 274673"W.18.32 net;N 08°55'12"W.38.22 feet; N 51°21'43"W.2055 feet;
N 65'0832"W,29.04 feat: N 61'5frii"W,42:40 Fant: N:t9"4939"W,44.34 fejt:
And N 75°4896;'W.34:26 net to the common line between the fiia4 described Bunke
tract.and a second tract described in deed to Richard and Nathan liontke.rc corded in
DocumenttNumber 20:)9•I0359 D11.DCT:
• TITENCE continuing along the approximate centerline ol'i aid creek and along the cowmen line
thereof the following etiOrseS.all to pilins for korner.
N O1'2347"W.11.81 net;
. N 869)9'09"W.30.71)feet:
N 67"3654"W.70.47 feet:
N 28'503"W,R1.03 feet;
N 70'02'51."W,125.09 feet;
N 42°3803"W,20.94 feet;
And 8 77°36'20"W,203.71 feet to the southeast corner of)hitt contain tract described in
deed to Thu Waore,et nl.recorded in Document Ntntibcr 2001-120341 DRIX'T':
• Tfl0NCC DueNorth.444.64 feel to the northeast corner thereof:
:1 Tl IENCE along the north line of said Moore tract.the following courses:
Around a non-tangent curve to the right having a control angel 2'28'53';a radii's of
:1 5180.00 feet,a chord ul'S 66'43'38"W-224.31 feet..a n aurdistance of 224.33 feel:
Around a compound curie to the tight having a central angel of 17'14'18".a radius of
1530,00 feet,a chord of S 76'35'13"W-458.59 feet,an aro&tune of 460.32 feet;
) And around a reversecurve to the lett having a central angel of 3'50'41",a radius of
670.00 feet,a ehOrd of S 83'1702"W-44.95 net,anr an.distance o1'4496 net to a point
on the east line offlood Nope Road ti>rthe norihowest corner thereof,
51 TI-IENCE N 00°OR10"W,635.43 feet along said line to a 5/8"iron rod found:
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THEN' N 00"08'34";W, 1241.08 feet to a fence comer being the southwest comer of that
certain tract now under owneishlp of Judy Reeves;
is '111t:NCS N 89'14'55"E.;939.03 net along the south line thereof;
c-
'II THENCE N 00'16'13"W,197.22 feet along the cast lire thereof to a 1/2"iron roil found on the
south line offish Trap Road;
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} THENCE N 88"58'23"0,815.79 feel along the south line of said road;
T1 FNCE N 00°02'49"W.36.271eot passing into said road,to a PK nail found;
THENCE$8903'42"W.1776.94 feel along said road to a Pi;nail found at the intersection of
Fish Trap Road and Good I lope Road.Mild PK nail being in the approximate centerlines thereof;
THENCE S 0095:35'E,3735.78 feet along the centerline of Good Hope Road to a point for
corner.
THENCE S 44°2126"W.114.24 feet leafing said road In a T.xDO'I'monument found on the
north line of[1.S.Highway 3110(a variable width right-of-way):
THENCE along the north line of said highway,the following courses:
S 88"3414"W.2061.88 feet;
• S 88°50'58"W.100.00 feet;
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And S 89`09'27"W.22.39 feet;
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77TENCE N 46`2]'17"W.111,89 feet departing said line to a PK nail found in the approximate
• centerline of Gee(toad.and being on the east line of that certain tract described in deed to NW
380&423 LP,recorded in DacntnenANunibtr 2007-148600 DRDCT:
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THENCE N 110°0708"W,1116.03 feet along said road and said lis-,
Ti lENCE departing Gee Road,continuing along the common line of said NW 380&42.1 I.P
tact.the following coerces:
S 89'00'13"W.450.32 feet to o point for corner,
S 89'55'33"W,645.33 feet to a fence post found for corner:
tI N[2'39'45"E,2150.58 feet to a 1 a"iron pin found at corner
N 88'32'53"W.452.05 feet to a point for corner.
N 7 F1222"W.50.19 feet to a point for comer;
N 27'5212"W.225.4i1 feet to a_point for corner:
•
S 81°13'41'W,101.01 feet to'apoint for comer:
• S 22°47'07"W,137.84 feet to a point for cooter;
S 52°4227"W,203..71 feet to a point for comer;
'I S 38°38'12"\V.198,71 feet to a point for comer:
S 5748'13"E,602.40 feet to a point 1'or earner:
S 31'24'22"W,2157_24 feet to a point at the northeast corner of a tract of land conveyed
to the City of Irving according to the deed recorded in Volume 4871. Page 5128
s (DRDCT);
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1111:NC1:around the boundary of said City of Irving tract,the following:
N 73'29'41"W.241.29feet to a point forcorner;
S 21°58'41" V.181.00 fed to a point for corner;
S 73'29'27"E.67.00 feet to a point tbr corner;
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i N 22°20:38"E,41.52 lot to a point for contort.
S 75"5716"E,152.12 feel ton 1?2"iron pin found al corner;
1 TI•IENCE 9 31"23'12"W along the west line ot'said NW 380 Fi 423 1.,P tract fora distance of
,n 878.42 feet io apoint on ilia north line of said US IlighWay 380:
THENCE N 88'41'34"W along said US Highway_180 f'ur a distance of 587.94 feat to a point for
corner.
THENCE along the earl boundary of a tract of land conveyed to M.Taylor Hansel according to
the deed recorded in County Clerks-File Ntnnher 94-1(0091793(1,M1)CT).llw following.
N 08"56'01"E,240.78 feet to a point for corner.
N 55"59111"P,132.201 of to a palet for come;
• S 20'18111"W.155.70 feet to a point for corner;
S 80°4959"E:88.40 feet ton point for comer.
N45'13'01"E.261.10 feet to a point for coater,
S 62"15'59"F,216,20 feet hi a point for comer;
N 15'04'41"E.184.70 feat to a point for corner.
• N 567O1'01"E,183.40 feet to:t point for center,
N 18`0701"E,197-90 feet to a point for comer.
And N 73°19'59" W. 688.80 feel to a Corps of Engineers monument found at the
Southeast corner of Glcnbrook Esidtes Please 1,according to the(fled pial recorded in
Cohinet X,Page 718 of the Pint Records of Dentin County Tesas(PR OCT);
it THENCE along the boundary line of said Gletihrook Estates Phase I.the following:
N 29"02'03"F 67.81 feet to a point for corner;
N 22404'26"E.710.31 foci to a Corps of Engineers monument found at comer.
• N 33`00'31"F.,221.33feet to a Corps of Engineers monument found at corner:
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And N 58'30'15"W.I 11.85 feet to a point at corner:
• THENCE N 07"55'24"E.710.05 feet departing said line.to a point for comr,
'Ill ENCE alopg 11w boundary of a tarot of land conveyed to FIN HTRAP 45.IP.according 14,the
decd recorded in Instrument Number 2009-148492(DRDCT),the following
I S 75"24'16 F.275;45 feet to:i Corps atEngmeer'.monument found at comer;
N 19''28'37"\if;7:10.75 feet to a Corps of Cngtncm monument found at corner:
• N 35°34'01"E,.531.05 feet to a Corps of Engineers monument found at corner:
N 02°04'22"W.172.83 feet to a Fence Post found at corner being in the:south line o1'a
tract of land conveyed to Mary Weber,cit al,according to the deed awarded in County
Clerks File Number 94-R0031655(DRDCTy.
tt 77•IENCE S 77''28'43"lit along said Weber tract liar n distance of 55304 feet to a Corps of
Engineers monument found at corner;
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THENCE N 01'1636"E along the east line of said Weber tract for a distance of 278.91 feet to a
• 112"iron and found for corner.
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THENCE N 00'59'53"E continuing ndong the east line of said Weber tract for a dislanee of
510.60 feet to a Corps of Engineers monument found nt comer,
THENCE along the boundary of a tract ot'land conveyed to Buy Blowfish,ltd,according 10 the
deed recorded in Instrument Number 2010-75453,(DRDC'f),the following:
N W57'07,W,149.86 fcetto a Coups of Engineers monument Need at corner:
N 0(f'06'44"E,1393.34 feet to a I t2"iron rod found for corner.
N 89'4912"W.505.03 feet to a Fence Past Found for corner,
N 00"50'11"W along;the oast line Of a tree,of land conveyed to Benny Notes according
to the meed recorded in Volume 2299.Page 94(DRDCT)fire a distance of 81(1.7$feet to
Fence Post Found for comer.
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THENCE N 89''1721" f pan of the way along the south line of a tract of land conveyed to
Lanell Giles according to the deed recorded in Instrument Number 02,•25573(DRDCT)and part
of the way along the south line of a tract of land conveyed to Walter Fain according to the deed
recorded in Instnutm i Number 04-95008(DRDCT).fora total distance of 1389.64 feet 10 it
• point for corner,
THENCE N 03'32'47"W along Me east line of said Fain and the east line of said Giles trod fora
total distance of 929.90 feet to 0 1/2"iron rod Ibuod for comer.
.I THENCE continuing along the boundary of said Lancq Giles tract the hollowing:
-S 85"47'35"W,22$.77 feet to it point for corner;
f N 070610"0"E,1767.38 feet to-ti318"iron rod found for corner: •
S 88"23'1 I" E. 1111.78 feet to a point for corner in the west line of a tract of land
conveyed to Sammie Carey according to the deed recorded in Volume 233(,.Page 541
(DRDCT):
THENCE 8 00'10'32"W along said west lino.125.32 feet to a point for corner,
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j THENCE N 88'59'25"E along the south line of said Carey tract and the south line of a tract of
land-conveyed to Florins Allen according to the deed recorded in Volume-375, Page 395
i (DRDCT)for n total distance of 2644,08 feel to a 112" iron rod found for corner in the
approaitnate Centerline of Good Nope Road_
THENCE N 00"48'55"W along the approximate centerline of said Good Hope Road for a
distance of'992.21 feet to a 1/2"iron rod timed for cornu;
•I THENCE S 89"44'00"E.457,55 feet to n point for corner,awards the east side of said Good
Hope Road:
'tl11ENGE N 01`47'011"W along said eat!line,035.34 feet to a point for comer:
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THENCE N(10"15'22"11'along said east line and along the cast line an tract of land conveyed
to Brice Jackson.Cl al,fora total distance of 1726.79 feet to a point for cornet:
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THENCE N 89"45'36"E along the south line of said Jackson tract and the south line of a tract of
I land conveyed to Smiley Road.Ltd according to the deed recorded in Instrument Number 2006-
.1 '15660 (DRDCT). fpr a 'distance Of 154410 feet to a PK Nail Poitnd for center in the 1
approximate centerline of Partin Road;
THENCE along the approximate centerline of said Parvin Road,the following:
N 70'11239"E,77.52 feet to a point for comer:
N 74"0938"E,206.69 feet to a point for corner.
N 77'25'29"Ts,11234 le-et to s 1t2"-iroit reed found for corner;
N 01'25'13"13,17.04 feet t.a a point for comer,
N 89"0854"1s,130(1,08 feel to a 112"irdn rod found for corner.
N 89"09'15"E,3454.64 fact to a 112"iron rod found for come_
THENCE S(0°39'16' !V alattg the west line of a tract of land conveyed to RH-TWO. LP
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according to the decd recorded in Instrument Number 2001-0056307(DRDCT),lora distance of
2407.$6 Nene a PE Nail Pound leer corner in the epproxiinate centerliine of Prosper Rtrad:
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THENCE S 29723:36"W along said approximate centerline,3412.71 feel to a 1/2"iron rod
fotmd for comer;
THENCE N 0012'4"W departing said centerline,for a distance of 16.61 feet to a point for
corner 00 the north edge of enid Prosper Renad;
!: THENCES 89"49'30"W along said north edge.297.09 feet to a 51$"iron rod found for corner
THENCE along the boundary, of a tract of land conveyed to Taal Comer,LLC according to the
deed recorded int Instrument Number 2010-56964(DRDCT),the followings
N 00"04'00"13,199.34 feet to a point for coiner,
S 8941'17"LV,3(17.72 feet to a point for corner:
;� S-30"05'33"13.230:00 feet to a point for corner.
N 60'53'04"E,46.09 feet to a point for comer.
1 $.721512"1 126.57 feet to a point for corner:
I N119'4 V 15"-E,21.70 feet to a point:for comer,
'1 'll l ENCS along the,opprotinrate centerline of said Fields Road.did-following:
S 00'02'02"W.1546.31 feet tae a point for comer;
S 00'0841"E,1196,19 feet to a 1/2"iron rad found for corner,
S 00'19'01"f 1051.65 test to a 1/2 iron rod found fir corner:
S 00'46'08"W.705.12 feet to a point for corner,
$20'37'31"E.96.22 feet to a point for confer:
S 2801518"E.189.49.feet to a 3J8"iron rod found for corner
And S(12916'10" L a distance of 1803.09 tett to the POINT OP 13(/OlNNINfi and
containing 88,362.114 square feet or 2025;515 acres or land.
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.I METES BOUNDS DESCRIPTION
2.000 ACRES
BEING a tract of land out of the 13.HADGES SURVEY,Abstract No,593.being part ofa called
1;616.90 iters tract of laid described in deed to Forest City Prosper Limited Partnership.
recorded In Document Number 2011-34763,Deed Records at Denton Counts,Texas(DRDCT).
and being more particularly described as follows-
BEGINNING at a Corpa of Engineers monument found on a rtottheted line ofGlenhiouk Estates.
Phase I,On addition in Denten County,Texas aeeordnif;In the ptit thereof reexirdeit in C:d,imt
X,Page 718 of the Plat Records of Denton County."Pexis,and being the south corner of that
certain tract described in deed to Fishtrap 45.1.P,recorded in Document Number 2009148492
DRDCT.and being a westerly southwest corner of said 1.616.90-acre:tract:
THENCE N 07355'24"It,669.72 feet along the common litre between said 1;616.90 acre tract
andsaid Fishtrap45,I.?,bite,le apoint for corner,
THENCE S 75°24'16"E.127.14 feet continuing along said cununon line to a point for comer:
THENCE S 07'55'24"W.710.05 feet departing said line to u point on the common litre between
said 1.616.90 acre tract and Glenbrook Itatates,Phase i,for confer:
THENCE N 58"30'15"W.137.78 feet along said common line to the POINT OF BEGINNING.
j+I and containing 87.120 square reef,or 2.000 accts of hand.
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SAVE MID EXCEPT 1
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WEST GOOD DOPE ROW
} Being 0.303 acre tract of land located in the R.Yates 8an'ey,Abstract No. 1538,Town of
((( Prosper, Deaton County,Texas and being a portion of a called 615.956 acre beet of land
described in decd to the Mallard 2003 Partnership,I„P.,recorded in County Clerks Fila No,
2004-0063827 Real Property Records, Denton County. Texas. and being more particularly
described as follows:
Commencing at a l/2”iron rod found at the northeast corner of a called 100 acre tract of land in
described in deed to the Matiard 2003 Portnershlp,L.P.,recorded in County Clerk's Pile No.
200441024462, Real Property Records.Denton County,Texas,Mud being in the approximate
center line of Good 1-lope Rout and the west line of a called 40 acre tract of land as described in
deed to the Milliard 2003 Partnership.L.P recorded in County Clerk's File No,2094-0024460
Real Property Records,Denten County.Texas.
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1 Thence South 00'48'42" East,along the common line of said 100 and 40 acre track and said
I Good Hope Road passing ata distance of 0553.28 feet the northwest corner of a call 38.37 acre
trtet of land as described in deed to the Mallard 2003 Partnership. L1'.,recorded in County
Clerk's File No.2004-0024458.Real Property Records,t)citton Cininty,'texas,and continuing
• for a total distance of distance of 1801.59 feet to a point for corner and the southeast corner of
called 11)0 acre tract and the northeast cornerofsaid 615.956 acre tractol'land;
'thence South 00'24'56`East.along the commons line of said 615.956 and 38.37 mere tracts and
said Good Hope Road,it distance of 342.89 feet to the point of beginning;
't hernia South 06'24'56"East,...tinting along the cgmnton lint'of said 615.956 and 18.37 acre
tracts and said Good Hope Road.a distance of 335,19 feet ton point fir corner:
'thence South 81°59'51"West.leaving the common ting of said 615.950 and 38.37 acre tracts
• and said.Good Hope Road,a distance of 32.57 feel to a point for corner at the beginning of a
• non-tangent curve to the ktl:
'thence northerly:across said 615.956 acre tract and along said curve to the lett,having a central
angle of 00'51'02",a radius ut'1960.00 feet,an are distance of 29.10 feet whose chord beats
North 08"23'40'West for a distance of 29.16 feet to a point for corer.
Thence North 08'51'11"West,scones said 615.956 acre tract,a distance of 305.31 feet to a pond
• tar ,ertrner.
IThence North 81'08'49"East,across said 615.956 acre tract,a distance of 46.61 feet to the Point
I of Beginning and containing 13.216 square feet or 0.303 acres of land.
1
;7 SAVE AND EXCF,PT 2
71 EAST GOOD ROPE ROSY'
Being 0.312 acre tract or land located in the R. Yates Survey;Abstract No. 1538,Town of
•
Prosper.Denton Comity,Texas and being a portion of a called 38.37 acre tract of land described
in deed to the Mallard 2003 Partnership,L.P„recorded in County Clerk's File No:2004-0024458
Real Propertty Records,Denton County,Texas and being more particularly described as follows:
Conttnetcing ala 112"iron red found at.the northeast corner of it called 100 acre tract eland as
descrilied in deed to the Maliard 20113 Partnership,LP.,recorded in County Clerk's File No.
211114-t024462,Real Property'Records. l3ctiton County.Texas.and being in the approximate
center line of Good Hope Road and the west line Oa called 40 acre tract about as described in
deed to the klahafd 2003 Partnership.L.P.,recorded in County Clerk's File No.200460024460
Real Property Records,Denton County.Texas.
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Thence South(HP48'42"Ean,along the common line of said 100 and 40 acre tracts and said
Good Hope Road passing at a distance Of 1553.28 feet the northwest cornar of said 38.37 sore
11 tract,and continuing fbr a total distance of 1801.59 rept to t point fiir coiner,and the southensf
1 corner of called 100.acre track.and the notlheast comer ol`a:called 615.956 acre tract of land as
described in deed to the Mahan!2003 Partnership,1..1'.,recorded in County Clerk's File No.
2004-0163827.Real Property Records.Denton County,Texan:
'thence South 06"24'56"Bast,along the common line of said 615.956 and 38.37 tare Tracts and
said(toad Hope Road,a distance of 342.89 ibet to the point of beginning;
• Theme North 81"0849"East.leaving the common line of said 615.956 and 38.37 acre tracts and
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said Goad Hope Road.a distance of 33.39 feet to a point for corner;
'thenen;South 08°51'11"East,across said 38,37 acre tract,a distance of 305.31 feet to a point for
corner and the beginning of a curve to the right;
Thence Southerly.across said 38,37 acre tract and along said curve to the right,having a central
angle of 00'51'02".a radius of 2040:00 fact,an arc distance of 30.29 feet whose chord bears
south 08'25'40"cast for n distance of 30.29 feet to a point for corner.
Thence South 81°59'51"West,across said 38.37 nine tract,a distance ol'47.43 fret tea point fur
• corner.
Thence North 06°24'56"West,along the.00111.111011 line of said 615.956 and 38.37 acre tracts and
said Goad hope Road.a distatec of 335.19 feet to The Point of Beginning and containing 13.585
square feet or 0.312 acres of land.
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EXHIBIT "B"
Legal Description and Depiction of the Forest City Tract
1 EXHIBIT B
MGM.U shR1P9'IoN Uel itoi2R8 'ern,TRAGI'
BEING a tract of land out of the M.E.P.&P.R.R.SURVEY.Abstract No. 1376.,P.BARNES
• SL1EVEY, Abstract No. 79, H.P. SALINE SURVEY. Abstract No. 1628, L. SALING
SURVEY.Abstract No. 1675,1, BATES SURVEY,Abstract No. 1620.and the C.SMITH
SURVEY.Abstract No.1681,in Denton County_Texas,being part of a tract of land described in
deed to Mah;ml Egg Farm,Inc.recorded in Volume 1936.Page 145 of the Deed Records or
Donton County Texas,and being all of the tracts Of land described in deedsto Forest City
Prosper Limited Partnership;as recorded iti Instrument No.2008-9958 and Instrument No.2007-
,. 144196 of the Deed Regards of Denton County.'texas(DRl)CT)and being more particularly
described as follows:
BEGINNING at a PK Nail found at tho approximate centerline intersection of Fish Trop Road
and Teel Parkway(Fields Road),at the northeast comer of,i tract of land conveyed to Forest
City Prosper Limited Partnership according to the deed recorded in histnement Number 2007-
144196(DRDCT):
THENCE.S 000'44" 8,along the approximate centerline of Ted Parkway(Fields Road).a
distance of 2327.49':
s. '[HENCE.S 89°25'36"W.a distance of 21.23';
I 'THENCE:S 0'61'37"E.along the current west line of said Teel Parkway:a distance of 1399,75.':
i THENCE,along the north ROW tine of US Highway 380,the following:
IS 43'36'03"W.a distance of 86.011":S 88"36.13"W,a distance of 3483.09';
' S 68°58'49"W.a distance of 161.73:
S 88"35'41"W.a distance of 2184,27:
N46'21'17"W.a distance of 111.89':
THENCE;N 0'07'08"W,along the approximate centerline of Gee Road,is distance of 1116,03':
i
r! THENCE,along the boundary of a tract or kind conveyed to NW 380&42,1 l..P,according to the
deed filed in bmstnement No.21107-14860(1(DRDC 1).the following:
589`00'13"W,a distance or 410.32';
S 89'55'33"W..a distance of 6453 %
Cj N 12'39'45"E.a distance of 2150.58%
THENCE,N 89"52'52"E.at distance of 619.83'to a point in the approximate witted iuc of said
I Cice Road:
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THENCE. N 0°07'08" W. along said approximate centerline_ a distance of 658.63' to the
intersection ot'said Gee Road with Fish Trap Road;
•
THENCE,along the approximate centerline of said Fish Trap Road,the following;
S 85'58'24"E,a distance of I146.80';
S 88°45'58"E.a distance of 29035% •
N 89°02'57"E,a distance o1'900.84';
• THENCE.S 0"1535"E.Ii dist:nice 41'231.61':
THENCE.along a tract of land owned by Judy Reeves.the following:
• N B9°I4'55"E.a-distatce 01961.03';
N 0°16'l3"W.a distance of 197.22';
N 88°58'23"E.a distance of 915,79
N 0''02'49"W.a distance of 36.27'to a point in the approximate centerline of said Fish Trap
Road:
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THENCE,N 89°03'17"E,along the approximate centerline ot'said Fish Trap Road.a distance of
1883.78 to the Place of Beginning and containing 24.415,501 square feet or 560.503 acres of
land.
SAVE AND EXCEPT THE FOLLOWING 3 TRACTS:
SAVE AND EXCEPT-LEGAL DESCRIPTION—TRACT 1
BEING a tract of land situated in the 3. Hates Survey.Abstract No. 1620 and the C Smith
Survey,Abstract No.1681,Button Cixinty,Texas,and also being part of a called 100 acre tract
us conveyed to Mahard 203 partnership.L.P.and recorded in County Clerks No.204-0046719.
Denton County,7'exa:;;and also being pan ofa called 24,722 acre tract•as conveyed to Mahard
203 Partnership.LP.and recorded in County Clerks No,2004-0(146718,Boston County.Texas.
and being mare particularly described by metes and bounds as follows;
BEGINNING at a alum.monument Ennui for corner at the south end of':a comer dip of Fields
Road and State highway Nu.380.said monrmient being in the north Right Of Way line of State
Highway No.380;
111
TI{ENCS S 88'36'04"W following the north ROW line ofsaid S.H. No.380 a distance of
rt 2359.75'tot capped 1'2 inch iron rod set frit corner,
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,t; THENCE N 01'23'56"W a distance or 130925'to a capped 112 inch iron rod set tilt corner.
THENCE S 75°48'261"S a distance of 34.26'to a capped ed 112 inch iron rod set for comer:
1'1<'
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'1l1ENCE S 39'49'48"E a distance of 44.34'to a capped 112 inch iron rod set for comer;
THENCE S 6105834"E a distance of 42.40'to a capped I/2 inch iron rod set for comer;
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THENCE S 65,0841"Eartisrance of 29,94'to a capped 112 inch iron rod set for comer:
TI1ENCE S 51"21'52"E a disrance.of20.55'to a capped 1/2 inch iron rod set for corner.
THENCE S 08"55'21"E it distance o138.22'to capped 112 inch iron rod set Er corner;
THENCE S 27°1632"L'tdisiane' of 18.32'ILO a dapped 1/2.inch iron rap set for comer:
THENCE S 38°29'19"E a distance 6125.14'14'to a capped 1r2 inch iron rod set 10r corner.
THENCE S 53"54'58"E a distance of25.98'to a capped 1/2 inch iron rod set for comer.
THENCE S 61'22'55"E a distance of 39.67 to a capped 1/2 inch iron rod set for corner:
THENCE S 65°46'31"E a distance of 40.90'to a capped 112 inch iron rod set for corner:
THENCE S 7.1°27'45"E n distance of 311.03'to a nipped 1/2 inch iron rod act for confer;
THENCE S 85"071r E a distanice 0120:74'to a capped 112 inch iron rod setfir comer.
THENCE N 89'46'51"E a distance o1'64.46'to.a capped 112 inch iron rod lie for Corner;
THENCE N R4°14'52"E a distance o166.71'ton capped 1/2 inch iron rod set for corner.
THENCE N 76"14'54"E a distance oil 13.15'to a capped 112 inch iron rod set for confer,
• THENCE S 89°16'29"E a distance of i 13,26'to a capped 1/2 inch iron rod set for confer:
THENCE N 89'33'59"E a distance 0132,60'ton capped 112 inch iron rod set for comer.
THENCE N 84"32'07"E a distance oi'57,26!to a copped 1/2 inch iron rod set for corner,
THENCE N 77'22'13"E a dntaiire of 68.85'to a capped 112'inch iron rod set for corner:
THENCE N 7697'21"E n distance 6121.80 to u capped 1/2 inch iron roll sot for corner.
THENCE N 63°27'17"En distance of 17.12'to a capped 112 inch iron roil sot for corner.
THENCE N 411"21'08"Ea distance of 32.92'to capped 1/2 inch iron rod set for corner,
THENCE N 31°21'52"E a distance of 38.44'to a capped 1/2 inch iron rod sot for comet
• THENCE N 13"33'13"Eat distance of24.58'to a capped 112 inch iron rod net for comet
THENCE N 611'581'10"E n distnce•of 17.8137ton capped 1/2 inch iron rod set for cornet
THENCE N 7754'56 P a distance of•1am.to a capped 1/2 inch iron rod set for comer,
THENCE S 89'39'03"E a distance of 4051'to a dapped 112 inch iron roil set for comer;
THENCE S 68'35'30"H a distance of 20.96'to a capped 112 inch iron rod set for corner.
THENCE S t 4°15 11'E a distance of 34.50'to a capped)112 inch iron rod set for cooler.
THENCE S 88"2324"E n dhannee of 45.13'to a capped 1/2 inch iron roil set for comer.
THENCE S 69°01'44"E a distance 01122.73'to a capped 1/2 inch iron rod act for turner,
THENCE S 731514"L a distance of 25:19'to a capped 1/2 Melt iron rod sat for cooter;
• 'THENCE S 77°2E00"E a distance of 34.93'to a capped 1/2 inch iron rod set for comer:
THENCE S 8195'41"L a distance of 35.73'to a capped 1/2 inch iron rod set for comer;
THENCE.S 85°30'06"E a distance of 31;4(i to a capped 1/2 inch iron rod not for corner;
f THENCE N 86'28'15"E a distance 6120.04'to a cupped 1/2 inch iron rod act for corner.
'THENCE S R0"08 5G'Fan distance 9142.04'to a catppcd 112 inch iron rod set for corner;
111HNCE't 61'2718"L a itisraacts 01',20.9S.to a capped i/2 inch iron rod net for cornier,
THENCE.S 68°17'38"E.a distance:of :1.37'to a capped 11'2 inch iron rod set for canner.
THENCE S 71'41,55"E a disttmce of 37.72'to a capped.1/2 inch iron rod net for corner.
TIELNCE N SR'59'13"E a distance of 27.91'to.a capped 1/2 inch iron rod act for corner,
THENCE S 72'40'06"E a distance of 57.37'to a capped 1/2 inch iron rout cci for comer.
THENCE N 82622'57"P.a distance of31;65'to a capped 1/2 inch iron rod set for atruer.
THENCE S 72°58'52"E a distonc t of 44.69'to a capped 1/2 inch iron rod set for comer;
til IIlENCI?.S 83"51'47"Is a distance of 36.91'to a capped 112 inch iron rod net for earners
THENCE S 871)3'22"E n distance 6133.63'to a capped 1/2 inch-von rod set for corner:
11IENCE N 86'51'59"E a distance 0'16.11'to a capped U2 inch iron rod set:for corm.
THENCE N 75'32'31"H a did:ince'nf23.72'ton capped 1/2 inch iron rod set for corner.
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THENCE S 8993008"E a distance of 28A0'to a capped 1/2 inch iron rod set for corner:
THENCE S 81°41'48"E a distance of22.21'to a capped 1/2 inch iron roil set for corner:
'THENCE S 85'19'15"E a distance of 35.61'to a capped 1r`2 inch iron rod het for comer;
THENCE S 88"I 759"L n distance o£25.45'to a capped 1/2 inch iron rod set tin-corner:
• THENCE S 82'33'32'E u distance of 38.11'to a capped 1/2 inch iron rod set for corner;
THENCE.S 73°55'42"E a distnncc of 120:74'to a capped 1/2 inch iron rod set for comar-
TI-HENCE S 74"26'48"E a distance of 35.11(1 to a capped 1/2 inch iron rod set for corner:
THENCE S 57'56'25"E n distance o139.05'to a capped 1/2 inch iron rod set for corner:
THENCE S 38"10'53"E a distance of 17.58'10 a capped 1/2 inch iron rod eel for comer.
17-IENCE S 19`20'20"E a distance of 5298'to a capped 1/2 inch iron rod Set for comer:
THENCE 5 44027'28"E adisI-us sof 17.63'to capped lit inch iron rod act for corner
• THENCE S 83"39'55"E a distance of 22.37'to a capped 1/2 inch iron rod set for comer:
THENCE N 83'53'07'"E a distance of 15:58'to a capped 1/2 inch iron rod set for corner
THENCE S 61'03'13'E a distance of'-17.42'to a capped 1/2 inch iron rod set for corner;
THENCE S 66"22'16'E a distance of 65.21'to a capped I/2 inch iron rod set t'or corner:
114ENCE S 80"38'57"E a distance of 12:36'to a capped I/2 inch iron rod set for corner:
THENCE N 69'59'11"L'a dist free of 88.69'to n capped 1/2 inch iron rod set for corner:
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THENCE N 60"28'09"E a distance of 22.38'to a capped 1/2 inch iron rod set Ihr comer,
THENCE N 37'11'10'E a distance 01'22.22'to a capped 1/2 inch iron rod set for corner.
THENCE N 30°59'09"E a distance of 20.67'to a capped 1/2 inch iron rod set for corner,
THENCE N 32°45'10"E to distance of23.11'to acupped 1/2 inch iron rod sat for corner.
THENCE N 26'27'17"E n distaneeaif 12.20'to a capped 1/2 inch iron rod set for comer;
'THENCE N 21'00'57"E a distance of 17.75'ton capped 1/2 inch iron rod set for corner.
THENCE N 6044'08" G a distance of 11.20'to a capped 1/2 inch iron rod set for coiner in
Fields Road;
THENCE S 00'01'47"E follosvhi5 New Road a distance of 897.26'to a wood ROW monnmtenl
found for corner at the north end of said corner clip;
THENCE S 43°35'54"W following the said comer clip a distance of 86.08'to the POINT OF
BEGINNING and containing 2.613.600 square feet or 60.000 acres of land.
SAVE AND EXCEPT-LEGAL DESCRIPTION—TRACT 2
BEING A 38.364 ACRE TRACT OF LAND.LOCATED N THE A BATES SURVEY,
ABSTRACT NO. 1620.ANI)BEING A?OR13ON OF A CALLED 283.420 ACRE TRACT
OF LAND.DESCRIBED AS TRACT 1 TO OREST CITY PROSPER,1.P.RECORDED IN
COUNTY CLERKS FILE HO. 2097-00144196; DEED ECORDS, DENTON COUNTY,
TEXAS.AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT A lir IRON ROD WI'fll A YItLLOW PLASTIC CAP STAMPED
"SPIARSENO" SE'f FOR CORNER AT TIM SOUTHWEST CORNER(W SAID 283.4211
ACRE TRACT ANI)SAID FOREST CITY POSPER. LP. TRACT, SAID POINT ALSO
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BEING IN THE NORTH LINE OF U.S.1HIGIRYAY 380.A 160 FOOT WIDE PUBLIC
RIGIrr-OF-WAY AT THE BEGINNING OF A CORNER CLIP:
!
I THENCE NORTH 46`41I'54" WEST, DEPARTING THE NORTH LINE OF SAID U.S.
1 HIGHWAY 380,A DISTANCE OF 83.04 FEET TO A I/2' IRON ROD WITH A YELLOW
1 PLASTIC CAP S lAM FED"$PIARSLNG'SEE':FOR COIGNEIL AND BEING AT THE END
t OF A CORNER CLIP IN THE EAST LINE 0 GOOD HOPE ROAD:
THENCE NORTH 0[F2Y36"WEST.CON'FLNUING ALONG SAID EAST LINE OF GOOD
HOPE ROAD,A DISTANCE OF 1105.55 FEET TOA 1/2"-IRON ROD WITH A YELLOW
PLASTIC CAP STAMPED"SPIARSENG"SET FOR CORNER;
THENCE-NORTH 14"O7'39'EAST.A DISTANCE OF 83.38 FEET TO A 1/2"IRON ROD
' WM-I A YELLOW PLASTIC CAP STAMPED"SPIARSENG"SET FOR CORNER;
THENCE NORTH 36"2504"EAST.A DISTANCE OF 122.80 FEET"1'O A 112"IRON •ROD
WITH.A YELLOW PLASTIC CAP STAMPED"SPIARSENG"SET FOR CORNER: '
THENCE NORTH 63"00'29"EAST.A DISTANCE OF 62.17 FEET TO A I/T'IRON ROD-
WITH A YELLOW PLASTIC CAP STAMPED"SPLARSENG"SGT FOR CORNER;
• 'IT"IENCE NORTH 38714'06' EAST,A DISTANCE OF 51.46 FEET TO A 1/2"IRON ROD
W rrH•A.Y ELLOW PLASTIC CAP STAMPED"SPIARS ENG"SET.FOR COILNER;
T'HE'NCE NORTH 70"02'15"EAST.A DISTANCE OF 172:36 FEET TO.A I r2"IRON •ROD
WITH A YELLOW PLASTIC CAP S'1AMPED'!SPLIRSENG"SET FOR CORNER;
• THENCE NORTH 480034"EAST,A DISTANCE OF 43.28 FEET TO A itT'IRON ROD
WI'T'HA YELLOW PLASTICCAP STAMPED"SPIARSENG"SET FOR CORNER:
`I 'THENCE NORTH 28°00'20"EAST,A DISTANCE OF 40.16 FEET TO A 1/2" IRON ROD
WITH A YELLOW PLASTIC CA!'STAMPEI/"SMARS ENO"SET I'ORCORNEIL;
THENCE NORTH 66'02'33"EAST,A DISTANCE OF 18.53 FEET TO A 1/2"IRON ROD
WITH A YELLOW PLASTIC CAI'STAMPED"SPLARSENO"SET FOR CORNER;
THENCE.SOUTH 89"51'15"EAST.A DISTANCE OF IS.62 FEET TO A 1/2" IRON ROD
WITH A Y ELLOW'PLASTIC CAP S'T'AMPED"SPIARSENG"SET FOR CORNER;
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'I THENCE SOUTH 701637"EAST,A•DISTANCE OF 24-93 FEET TO A 1/2"IRON ROD
.! WITH A YELLOW PLASTIC CAI'S'T'AMPED"SPIARSENG"SET FOR CORNER;
THENCE SOUTH 52'0713"EAST,A DISTANCE.OF 15.81 FEET'10 A 1/2"IRON NO!)
k W rI'H A YELLOW PLASTIC CAP STAMPED"SPIARSENO"SET FOR-CORNER:
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ITHENCE SOUTH 55°16'09"EAST.A DISTANCE OF 70.84 FELT TO A 1/2"IRON ROD
IWITH A YELLOW PLASTIC CAP STAMPED"SPIARSENG"SET FOR CORNER:
:l THENCE SOU'ITt 74°09'48"EAST,A DISTANCE OF 93.31 FEET TO A 1/2"IRON ROD
WITH A YELLOW PLASTIC CAP STAMPED"SPLARSENO"SET FOR CORNER;
•
s. THENCE SOUTH 50'23'53"EAST.A DISTANCE OF 26.68 FEET TO A 1/2"IRON ROD
WITH A YELLOW PLASTIC CAP STAMPED"SPIARSENG"SET FOR CORNER:
T11ENCE NORTH 77'36'11"EAST.A DISTANCE OF 263,50 FEET TO A 1/2"IRON ROD
WITH A ItELLOVI PLASTIC CAP STAMPED"SMARS ENG"SET FOR CORNER:
• THENCE SOUTH 42"38'1.1"EAST,A.DIST.ANC:E OF 20.94 FEET TO A 112"IRON ROD
Wm-I A YELLOW PLASTIC CAP STAMPED"SPLARSENG"SET FOR CORNER;
THENCE SOUTH 70'03'00"EAST.A DISTANCE OF 125.09 FEET''1'O A 1/2" IRON ROD
• WITH A YELLOW PLASTIC CAP STAMPED"SPURS ENO"SET FOIL CORNER:
THENCE SOUTH 28"51'42"EAST,A DISTANCE OF 81.03 FEE')'TO A 112"IRON ROD
WITH A YELLOW PLASTIC CAP STAMPED"SPIARSENG"SET FOIL CORNER;
THENCE SOUTH 67°37'03"EAS')',A DISTANCE OF 70.47 FEEL'TO A 1/2"IRON ROD
WITH A YELLOW PLASTIC CAP STAMPED"SPIARSENG"SET FOR CORNER:
')'HENCE SOUTH 86°09T8"EAST,A DISTANCE OF 30,78 FEET'co A 1/2"IRON ROD
i 11'iru A YELLOW PLASTIC CAP SI:AMPED"SI'1ARSENG"SET FOR CORNER,SAID
1 CORNER ALSO BEING THE NORTHWEST CORNER OF A CALLED 15.034 ACRE
TRACT OF LAND DESCRIBED TO RICHARD J.bt NATHAN P.BON'I'KE BY SPECIAL
.1 WARRANTY DEED AS RECORDED IN COUNTY CLERK FILE 2007-144901, DEED
1 RECORDS,DENTON COUNTY.TEXAS;
')'HENCE SOUTH 01"23'56" EAST.CON'ITNUING ALONG THE WEST LINE OF SAID
15.034.ACRE'TRACT.A DISTANCE OF 1321.07 FEET 70 A 12" IRON ROD WITH A
YELLOW PLASTIC`CAP STAMPED"SPIARSENG"SET FOR CORNER IN THE NORTH
LINE OF'SAID US.HIGHWAY 380;
! THENCE SOUTH 88°36'04 WEST,CONTINUING ALONG SAID NORTH LINE OF SAiI)
U.S.HIGHWAY 3$0;A DISTANCE OF 1123:34 FEET TO TILE POINT OF BEGINNING
4 AND CONTAINING 1,671.125 SQUARE PEET OR 38.364 ACRES OF LAND,MORE OR
' LESS.
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sAvE AND EXCEPT—LEGAL DESCRIPTION—TRACT 3
• t3EINU a 5:545 acre tract of land oul of the.1,l3AT•L+S SURVEY,Abstract No,1620,in Denton
County.Texas,being part of a called 27.157 tract of land described in deed to Forest City
Prosper. L.P.,recorded in Denton County Clerk's File No. 2008-9958 of the Real Property
Records of Denton County,Texas.being part of called 283.420 acro tract or land described in
deed to rarest City Prosper,LP„recorded in Denton County Clerk's Ede No.20077144196 of
the Real Property Roeords of Denton County,Taxan.and being more particularly de.eiibed as
Inflows:
•
COMMENCING at a point in the corner clip of the north right-ol.wayline of U.S.Highway No,
380.and the east line of Good Hope Road(no dedication recordation found)and the southwest
corner of n tract of land described in deed to Richard.1.Hontke and Nathan P.13ontke recorded in
• Denton County Clerk's File No,2009-10359 of the Real Property Records of Denton County,
7ek:a,s:
THENCE North 00'25'36"West,with said east line of Good dope Road and along a fence and
the west line of said Rontke tract;a distance of 1105.55 feet Ion fence comer found in the south
• line of said 283.420 acre tract and being the POINT OF BEGINNING;
•
THENCE Ninth 00'25'36"West,with said west line of said 283.420 acre tract and along a fence.
a distance of 34835 feel to a SW iron rod set with a plastic cap stamped KIIA"(hereinafter
called 5/8"iron rod set)for corner in the east line of said Good Hope Road and the southwest
corner of said 27.157 acre tract:
�.I THENCE North 00"08'28"\;'est,with said went line ufsaid 27.157 acre tract and the east line of
Good Hope Rdrul and along a fence.it distance of 195.83 feet to a point for comer at ibe
beginning of a nae-tangent curve to the right whose chord bears North 83'17'02"Gast.44.95
feet:
THENCE leaving said Good Hope Road across said 27.157 acre tract and along a curve to the
right through:t centrad angle of 03'50'40".a radius 6(.670.00 feet and:t arc length of 44,96 feel
'I to a point for corner at the beginning rat a reVerse curve to the left whose chord bears North
76°35'l3"East.458.59 feel:
THENCE.across said 27.157 acre tract and along a curve to the left through a central angle of
17'14'18",a radius of 1530.00 feet and a arc length of 460.32 feet to a paint for corner of the
beginning of a curve to the Ietl whose chord hears Mirth 66"43'38"Gast.224.31 feet:
'11I1:NCE across said 27.157 acre tract and along a curve to the left through a central angle of
02''28'53",a radius of 5180.00 feet and a are length 01-22433 feel to rr point for comer:
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THENCE South 00910'00"East,across said 27,157 acre tract,a distance of 444.60 feet to a point
{.• for comer in the north line o1'said HootLe-tract:
[
THENCE with said north line of said Bonika tract,the following courses and distances to reit:
'I'HENCE South 77'3611"!Vest,a distance of 59.80 feet;
THENCE North 50"23'53"West.a distance of 26.68 feet
THENCE North 74°09'48"West,a distance o1'93.31 feet;
THENCE Ninth 55°16'09"West,a distance of70.84 feet;
'THENCE North 82"0733"West,a distance of 15.81 feet;
THENCE North 70°26.37"west.a distance of 24.93 leak;
THENCE North 89'51'15"West,a distance of 15.62 feet:
THENCE South 66'02'53"West.a distance or 18.53
THENCE South 28°0620"West_a distance ot'40.16 feet:
• THENCE South 48°0634"West.a distance 01.45.28 feet;
• THENCE South 70'02'15"West.a distance of 172.36 feet:
THENCE South 38'1406"W st,a distance of 51.46 Leet:
THENCE South 63'0022"West,a distanee of62.17feet:
•
THENCE South 36"2504"West a distance of 122.80 feet;
THENCE South 14'0739"West,a distance of 53.38 feet to the POINT OF
BEGINNING and containing 5.545 acres of land,
Bearing system based North Central Zone of the Texas State Mane Coordinate System. This
document, prepared under 22 TAC 663.21,does not reflect the results of an on the ground
survey.and is net to be used to convey or establish interests in real property except those rights
and interest supplied or established by the creation or reconfiguration of the boundary of the
political subdivision for which it was prepared.
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