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Contract - TV Texas Management Company - 10/12/2017 REAL ESTATE CONTRACT University Boulevard Right of Way THIS REAL ESTATE CONTRACT ("Contract") is made by and between TV TEXAS MANAGEMENT COMPANY, LLC, a Texas limited liability company, (referred to in this Contract as "Seller", whether one or more) and the CITY OF ROUND ROCK, TEXAS (referred to in this Contract as"Purchaser"), upon the terms and conditions set forth in this Contract. ARTICLE I PURCHASE AND SALE By this Contract, Seller sells and agrees to convey, and Purchaser purchases and agrees to pay for, the tract(s)of land described as follows: All of that certain 0.283 acre (12,342 square foot) tract of land out of and situated in the N. B. Anderson Survey, Abstract No. 29 in Williamson County, Texas; being more fully described in Exhibit"A", attached hereto and incorporated herein Parcel 8); together with all and singular the rights and appurtenances pertaining to the property, including any right, title and interest of Seller in and to adjacent streets, alleys or rights-of-way (all of such real property, rights, and appurtenances being referred to in this Contract as the "Property"), and any improvements and fixtures situated on and attached to the Property described in Exhibit "A" not otherwise retained by Seller, for the consideration and upon and subject to the terms, provisions, and conditions set forth below. ARTICLE II PURCHASE PRICE Purchase Price 2.01. The Purchase Price for the Property described in Exhibit"A", compensation for any improvements on the Property, and for any damage or cost of cure for the reconfiguration of the remaining property of Seller shall be the sum of NINETY-SIX THOUSAND AND FIFTY-ONE and 001100 Dollars($96,051.00). Payment of Purchase Price 2.02. The Purchase Price shall be payable in cash at the Closing. 00384109 Doc ARTICLE III PURCHASER'S OBLIGATIONS Conditions to Purchaser's Obligations 3.01. The obligations of Purchaser hereunder to consummate the transactions contemplated hereby are subject to the satisfaction of each of the following conditions (any of which may be waived in whole or in part by Purchaser at or prior to the Closing). Miscellaneous Conditions 3.02. Seller shall have performed, observed, and complied with all of the covenants, agreements, and conditions required by this Contract to be performed, observed, and complied with by Seller prior to or as of the Closing. ARTICLE IV REPRESENTATIONS AND WARRANTIES OF SELLER 4.01. Seller hereby represents and warrants to Purchaser as follows, which representations and warranties shall be deemed made by Seller to Purchaser also as of the Closing Date, to the best of Seller's knowledge: (a) There are no parties in possession of any portion of the Property as lessees, tenants at sufferance,or trespassers, other than previously disclosed to Purchaser; (b) Seller has complied with all applicable laws, ordinances, regulations, statutes, rules and restrictions relating to the Property, or any part thereof; 4.02.The Property herein is beingcved to Purchaser under threat of condemnation. ARTICLE V CLOSING Closing Date 5.01. The Closing shall be held at the office of Capital Title Company on or before September 30, 2017, or at such time, date, and place as Seller and Purchaser may agree upon, or within 10 days after the completion of any title curative matters if necessary for items as shown on the Title Commitment or in the contract(which date is herein referred to as the"Closing Date"). 2 Seller's Obligations at Closing 5.02. At the Closing Seller shall: (1) Deliver to the City of Round Rock, Texas a duly executed and acknowledged Deed conveying good and indefeasible title in fee simple to all of the Property described in Exhibit"A", free and clear of any and all liens and restrictions, except for the following: (a) General real estate taxes for the year of closing and subsequent years not yet due and payable; (b) Any exceptions approved by Purchaser pursuant to Article III hereof; and (c) Any exceptions approved by Purchaser in writing. (2)The Deed shall be in the form as shown in Exhibit"B" attached hereto. (3) Deliver to Purchaser a Texas Owner's Title Policy at Purchaser's sole expense, issued by Title Company, in Purchaser's favor in the full amount of the Purchase Price, insuring Grantee's fee simple and/or easement interests in and to the Property subject only to those title exceptions listed herein, such other exceptions as may be approved in writing by Purchaser, and the standard printed exceptions contained in the usual form of Texas Owner's Title Policy, provided, however: (a) The boundary and survey exceptions shall be deleted; (b) The exception as to restrictive covenants shall be endorsed "None of Record", if applicable; and (c) The exception as to the lien for taxes shall be limited to the year of closing and shall be endorsed"Not Yet Due and Payable". (4) Deliver to Purchaser possession of the Property. Purchaser's Obligations at Closing 5.03. At the Closing, Purchaser shall: (a) Pay the cash portion of the Purchase Price. a Prorations 5.04. General real estate taxes for the then current year relating to the Property shall be prorated as of the Closing Date and shall be adjusted in cash at the closing. If the Closing shall occur before the tax rate is fixed for the then current year, the apportionment of taxes shall be upon the basis of the tax rate for the next preceding year applied to the latest assessed valuation. Agricultural roll-back taxes, if any, shall be paid by Purchaser. Closing Costs 5.05. All costs and expenses of closing in consummating the sale and purchase of the Property shall be borne and paid as follows: (1) Owner's Title Policy and survey to be paid by Purchaser. (2) Deed,tax certificates, and title curative matters, if any, paid by Purchaser. (3) All other closing costs shall be paid by Purchaser. (4) Attorney's fees paid by each respectively. ARTICLE VI BREACH BY SELLER In the event Seller shall fail to fully and timely perform any of its obligations hereunder or shall fail to consummate the sale of the Property for any reason, except Purchaser's default, Purchaser may: (1) enforce specific performance of this Contract; or (2) request that the Escrow Deposit, if any,shall be forthwith returned by the title company to Purchaser. ARTICLE VII BREACH.BY PURCHASER In the event Purchaser should fail to consummate the purchase of the Property, the conditions to Purchaser's obligations set forth in Article III having been satisfied and Purchaser being in default and Seller not being in default hereunder, Seller shall have the right to receive the Escrow Deposit, if any, from the title company, the sum being agreed on as liquidated damages for the failure of Purchaser to perform the duties, liabilities, and obligations imposed upon it by the terms and provisions of this Contract, and Seller agrees to accept and take this cash payment as its total damages and relief and as Seller's sole remedy hereunder in such event. If no Escrow Deposit has been made then Seller shall receive the amount of$500 as liquidated damages for any failure by Purchaser. 4 ARTICLE VIII MISCELLANEOUS Notice 8.01. Any notice required or permitted to be delivered hereunder shall be deemed received when sent by United States mail, postage prepaid, certified mail, return receipt requested, addressed to Seller or Purchaser, as the case may be, at the address set forth opposite the signature of the party. Texas Law to Apply 8.02. This Contract shall be construed under and in accordance with the laws of the State of Texas, and all obligations of the parties created hereunder are performable in Williamson County,Texas. Parties Bound 8.03. This Contract shall be binding upon and inure to the benefit of the parties and their respective heirs, executors, administrators, legal representatives, successors and assigns where permitted by this Contract. Legal Construction 8.04. In case any one or more of the provisions contained in this Contract shall for any reason be held to be invalid, illegal, or unenforceable in any respect, this invalidity, illegality, or unenforceability shall not affect any other provision hereof, and this Contract shall be construed as if the invalid, illegal, or unenforceable provision had never been contained herein. Prior Agreements Superseded 8.05. This Contract constitutes the sole and only agreement of the parties and supersedes any prior understandings or written or oral agreements between the parties respecting the within subject matter. Time of Essence 8.06. Time is of the essence in this Contract. 5 Gender 8.07. Words of any gender used in this Contract shall be held and construed to include any other gender, and words in the singular number shall be held to include the plural, and vice versa, unless the context requires otherwise. Memorandum of Contract 8.08. Upon request of either party, the parties shall promptly execute a memorandum of this Contract suitable for filing of record. Compliance 8.09 In accordance with the requirements of Section 20 of the Texas Real Estate License Act, Purchaser is hereby advised that it should be furnished with or obtain a policy of title insurance or Purchaser should have the abstract covering the Property examined by an attorney of Purchaser's own selection. Effective Date 8.10 This Contract shall be effective as of the date it is approved by the Round Rock city council or city manager, which date is indicated beneath the Mayor's or City Manager's signature below. Counterparts 8.11 This Contract may be executed in any number of counterparts, which may together constitute the Contract. Signatures transmitted by facsimile or electronic mail may be considered effective as originals for purposes of this Contract. [signature page full ours] 6 SELLER: TV TEXAS MANAGEMENT COMPANY, LLC, a Texas limited liability com y Address: By: Its: Date: PURCHASER: CITY OF ROUND ROCK, TEXAS By: 1. 14 Address: 221 East Main St. "I AV I Round Rock,Texas 78664 PrintedName: M&A Its: - MaO' Date: ID EXHIBIT"A" Variable Width Right-Of-Way Acquisition METES AND BOUNDS DESCRIPTION OF A 0.283 ACRE TRACT OF LAND OUT OF THE TV TEXAS MANAGEMENT COMPANY,LLC TRACT LOCATED IN THE CITY OF ROUND ROCK,WILLIAMSON COUNTY,TEXAS BEING A 0.283 ACRE (12,342 SQUARE FOOT) TRACT OF LAND SITUATED IN THE N.B. ANDERSON SURVEY, ABSTRACT NO. 29,WILLIAMSON COUNTY, TEXAS; SAID 0.283 ACRE TRACT BEING A PORTION OF LOT 24, GOLF COURSE, TERAVISTA SECTION 10B, FILED ON JUNE 1, 2006, AND RECORDED IN CABINET BB, SLIDES 363-365 OF THE PLAT RECORDS OF WILLIAMSON COUNTY, TEXAS (P.R.W.C.T.); SAID 0.283 ACRE TRACT ALSO BEING A PORTION OF THAT CERTAIN TRACT OF LAND (TRACT 8) DESCRIBED IN A SPECIAL WARRANTY DEED TO TV TEXAS MANAGEMENT COMPANY, LLC,FILED ON DECEMBER 31, 2014, AND RECORDED IN DOCUMENT NO. 2014104370 OF THE OFFICIAL PUBLIC RECORDS OF WILLIAMSON COUNTY, TEXAS (O.P.R.W.C.T.); SAID 0.283 ACRE TRACT BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS: BEGINNING at a 1/2-inch iron rod with yellow cap stamped "Bury-Partners" found marking the northeast intersection of the east right-of-way line of Sunrise Road (variable width right-of-way) and the north right-of-way line of University Boulevard (variable width right-of-way), and the westernmost southwest corner of said Lot 24 and the herein described tract; THENCE traveling with the common easterly right-of-way line of said Sunrise Road and the westerly line of said Lot 24,the following two (2)calls: 1) North 20°36' 30"West, a distance of 10.71 feet to a 1/2-inch iron rod found for a point of curvature of the herein described tract; 2) In a Northerly direction, 26.22 feet along the arc of a curve to the right, having a radius of 977.00 feet, a central angle of 01' 32' 17", and a chord bearing and distance of North 190 55' 23" West— Page 1 of 4 Exhibit"A"continued Description of a 0.283 acre tract 26.22 feet to a set 1/2-inch iron rod with aluminum cap stamped "CORR ROW" (hereafter referred to as"CORR cap")for the northwest corner of the herein described tract; THENCE traveling across the interior of said Lot 24, same being the proposed northerly R.O.W. line of said University Boulevard, the following five(5)calls: 1) South 65° 22' 09" East, a distance of 42.18 feet to a 1/2-inch iron rod with "CORR cap" set for a corner on the north line of the herein described tract; 2) North 69° 17' 30" East, a distance of 110.12 feet to a 1/2-inch iron rod with "CORR cap" set for a point of curvature on the north line of the herein described tract; 3) In an Easterly direction, 109.95 feet along the arc of a curve to the right,having a radius of 3074.00 feet, a central angle of 02° 02' 58", and a chord bearing and distance of North 70° 18' 58" East— 109.94 feet to a set 1/2-inch iron rod with "CORR cap" for a point of tangency on the north line of the herein described tract; 4) North 71° 20' 27" East, a distance of 83.11 feet to a 1/2-inch iron rod with "CORR cap" set for a corner on the north line of the herein described tract; 5) North 77°03' 05" East, a distance of 227.57 feet to a 1/2-inch iron rod with "CORR cap" set for the most easterly corner of the herein described tract, said point being on the common south line of said Lot 24 and the north right-of-way line of said University Boulevard; THENCE with the common south line of said Lot 24 and the north right-of-way line of said University Boulevard,the following five(5)calls: 1) South 71° 13' 20"West, a distance of 9.37 feet to 1/2-inch iron rod with yellow cap stamped"Bury- Partners"found for a corner on the south line of the herein described tract; 2) South 70° 32' 20" West, a distance of 199.23 feet to 1/24nch iron rod with yellow cap stamped "Bury-Partners"found for a corner on the south line of the herein described tract; 3) South 70° 08' 42" West, a distance of 301.33 feet to 1/2-inch iron rod found for a corner on the south line of the herein described tract; 4) South 68° 47' 48" West, a distance of 28.88 feet to calculated point for a point of curvature on the south line of the herein described tract; Page 2 of 4 Exhibit"A"continued Description of a 0.283 acre tract 5) In a Northwesterly direction, 31.16 feet along the arc of a curve to the right,having a radius of 20.00 feet, a central angle of 89° 15' 21", and a chord bearing and distance of North 650 47' 17" West— 28.10 feet to the POINT OF BEGINNING of the herein described tract, delineating and encompassing within the metes recited 0.283 acre (12,342 square feet) of land, more or less, based on the survey and exhibit drawing made by The Wallace Group, A CP&Y Company, Round Rock, Texas in 2016. Basis of Bearings: Bearings are based on the Texas State Plane Coordinate System (Central Zone — NAD 83)which is based on Leica's Central Texas GPS Cooperative CORS RTK Network. This metes and bounds description is accompanied by an exhibit drawing. THE STATE OF TEXAS § § KNOW ALL MEN BY THESE PRESENTS: COUNTY OF WILLIAMSON § That 1, Daniel M. Flaherty, a Registered Professional Land Surveyor, do hereby certify that the above description and exhibit drawing A-4714 attached hereto is true and correct to the best of my knowledge and belief and that the property described herein was determined by a survey made on the ground under my direction and supervision. WITNESS MY HAND AND SEAL at Round Rock,Williamson County,Texas. OF s • Daniel M. Flaherty,R.P.L.S.No. 5004 / .DANIEL M..FLAHEO The Wallace Group, a CP&Y Company r 9 5004 One Chisholm Trail,Suite 130 Round Rock,Texas 78681 S UR\J Ph. (512)248-0065 TBPLS Firm No. 10051701 See attached Plat No. A-4714 05-16-2016 22824-FN30.doc Date Page 3 of 4 EXHIBIT "A' ' DRAWING TO ACCOMPANY METES AND BOUNDS DESCRIPTION OF (VARIABLE WIDTH RIGHT—OF—WAY ACQUISITION) A 0.283 ACRE (12,342 SQ. FT.) TRACT OF LAND IN THE CITY OF ROUND ROCK, WILLIAMSON COUNTY, TEXAS q O TV TEXAS MANAGEMENT COMPANY, LLC DOC. NO.ACT 2014104370 O.P.R.W.C.T. FILED: DECEMBER 31, 2014 LOT 24 GOLF COURSE TERAVISTA SECTION 108 CABINET BB, SLIDE 383-365 P.R.W.C.T. FILED: JUNE 1, 2006 � 3 0 4--0132'17' X02'02'58' R=977.00' Fz R=3074.00' L=28.22' Yj L-109.95' x S 6522'09' E PROPOSED CB—N'70'18'58- E CB-N 19'55'23' W w � VARIABLE WIDTH R.O.W. ACQUISITION CO-26.22'\ 42.18 R.O.W. UNE CD-109.94' 0.283 ACRE (12,342 SQ. FT.) 1 ',12- N 6917'30' E N 7120'27' E �R,F 110.12' .1 ' N 2036'30' W N 77173'05' 10.71' G\5LY E _ 22757, 1�2 S 70'08'42" W — 301.33' S 70'32'20" W— 199.23' / FIELD NOTE S 68'47'48" W EXISTING R.O.W. UNE 1/2" C.I.R.F. 1/2 C.I.R.F. POINT OF 28.88' S 71'13'20" w BEGINNING a=89.15'21' 9.37' R-20.00' UNIVERSITY BOULEVARD L=31.16' (VARIABLE WIDTH R 0.W-) CB—N 65'4r17' W CD-28.10' E a LEGEND I cD • FOUND MONUMENT o GENERAL NOTES: 0 = SET 1/2" IRON ROD WITH ALUMINUM CAP STAMPED 1.) ALL PROPERTY CORNERS FOUND ARE CONTROL MONUMENTS. "CORR ROW' 2.) SUBJECT TO ANY AND ALL COVENANTS, RESTRICTIONS, EASEMENTS AND = CALCULATED POINT Ln CONDITIONS THAT MAY BE APPLICABLE. C.I.R.F. — IRON WITH YELLOW CAP STAMPED Q, 3.) THE SURVEYOR DID NOT ABSTRACT THE SUBJECT TRACT. 'BURY—PARTNERS' FOUND -9 4.) THIS DRAWING IS ACCOMPANIED BY A METES AND BOUNDS DESCRIPTION. P.R.W.C.T. = PLAT RECORDS, WIWAMSON COUNTY, TEXAS -1 5.) BEARINGS ARE BASED ON THE TEXAS STATE PLANE COORDINATE SYSTEM D.R.W.C.T. = DEED RECORDS, WIWAMSON COUNTY, TEXAS Uj 0 (CENTRAL ZONE, NAD83) WHICH IS BASED ON LEICA'S CENTRAL TEXAS GPS O.R.W.C.T. = OFFICIAL RECORDS, WIWAMSON COUNTY, TEXAS COOPERATIVE CORS RTK NETWORK. O.P.R.W.C.T. = OFFICIAL PUBLIC RECORDS, WILUAMSON COUNTY, TEXAS I co OF w ' WALLACE N engineers architects surveyors A\ ....... HSTF • -�- A CP&Y COMPANY A� WACO KILLEEN DALLAS ROUND ROCK V) TBPLS 10051701 1 Chisholm Trail,Suite 130, Round Rock,Texas 78681 (512)248 0065 TBPE F-54 DANIEL M..FLAHERfY 0 1 HEREBY STATE THAT TO THE BEST OF MY PROFESSIONAL KNOWLEDGE AND BELIEF THAT �': 5004 THIS PLAT AND THE SURVEY UPON WHICH IT IS BASED MEETS THE REQUIREMENTS FOR LAND SURVEYS IN THE STATE OF TEXAS. THIS 16TH DAY OF 2016. S URv� N 09-08-2014 co SURVEYED: 04-08-2016 DANIEL M. FLAHERTY RPLS NO. 5 4 OF 4 0 00 _ 00 PLAT NO. A-4714 DRAFT DATE 05-16-2016 DRAWN BY_DV SCALE WORK ORDER NO. 22824 FIELDBOOK/PG. 3BZ52 TAB A-4714 1-1 ® 2016 ALL RIGHTS RESERVED DIGITAL FILE 228248—PARCELS F/N 22824—FN30 EXHIBIT "B" Parcel 8 DEED University Boulevard Right of Way THE STATE OF TEXAS § COUNTY OF WILLIAMSON § NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OF THE FOLLOWING INFORMATION FROM THIS INSTRUMENT BEFORE IT IS FILED IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER. NOW, THEREFORE, KNOW ALL BY THESE PRESENTS: That TV TEXAS MANAGEMENT COMPANY, LLC, a Texas limited liability company, hereinafter referred to as Grantor, whether one or more, for and in consideration of the sum of Ten Dollars ($10.00) and other good and valuable consideration to Grantor in hand paid by City of Round Rock, Texas, the receipt and sufficiency of which is hereby acknowledged, and for which no lien is retained, either expressed or implied, have this day Sold and by these presents do Grant, Bargain, Sell and Convey unto CITY OF ROUND ROCK, TEXAS, all that certain tract or parcel of land lying and being situated in the County of Williamson, State of Texas, along with any improvements thereon, being more particularly described as follows: All of that certain 0.283 acre (12,342 square foot) tract in the N. B. Anderson Survey, Abstract No. 29, Williamson County, Texas; being more fully described by metes and bounds in Exhibit"A", attached hereto and incorporated herein Parcel 8) SAVE AND EXCEPT, HOWEVER, it is expressly understood and agreed that Grantor is retaining title to the following improvements located on the property described in said Exhibit "A" to wit: NONE RESERVATIONS FROM AND EXCEPTIONS TO CONVEYANCE AND WARRANTY: Visible and apparent easements not appearing of record; Any discrepancies, conflicts, or shortages in area or boundary lines or any encroachments or any overlapping of improvements which a current survey would show; Easements, restrictions, reservations, covenants, conditions, oil and gas leases, mineral severances, and encumbrances for taxes and assessments (other than liens and conveyances) presently of record in the Official Public Records of Williamson County, Texas, that affect the property, but only to the extent that said items are still valid and in force and effect at this time. 00384110.DOC Grantor reserves all of the oil, gas and other minerals in and under the land herein conveyed but waives all rights of ingress and egress to the surface thereof for the purpose of exploring, developing, mining or drilling or pumping the same; provided, however, that operations for exploration or recovery of any such minerals shall be permissible so long as all surface operations in connection therewith are located at a point outside the acquired parcel and upon the condition that none of such operations shall be conducted so near the surface of said land as to interfere with the intended use thereof or in any way interfere with,jeopardize, or endanger the facilities of the City of Round Rock, Texas or create a hazard to the public users thereof; it being intended, however, that nothing in this reservation shall affect the title and the rights of Grantee to take and use without additional compensation any, stone, earth, gravel, caliche, iron ore, gravel or any other road building material upon, in and under said land for the construction and maintenance of University Boulevard. TO HAVE AND TO HOLD the property herein described and herein conveyed together with all and singular the rights and appurtenances thereto in any wise belonging unto City of Round Rock, Texas and its assigns forever; and Grantor does hereby bind itself, its heirs, executors, administrators, successors and assigns to Warrant and Forever Defend all and singular the said premises herein conveyed unto City of Round Rock, Texas and its assigns against every person whomsoever lawfully claiming or to claim the same or any part thereof. This deed is being delivered in lieu of condemnation. IN WITNESS WHEREOF, this instrument is executed on this the day of , 2017. GRANTOR: TV TEXAS MANAGEMENT COMPANY, LLC, a Texas limited liability company By: Printed Name: Its: 2. ACKNOWLEDGMENT STATE OF TEXAS § COUNTY OF § This instrument was acknowledged before me on this the day of , 2017 by in the capacity and for the purposes and consideration recited therein. Notary Public, State of Texas PREPARED IN THE OFFICE OF: Sheets & Crossfield, P.C. 309 East Main Round Rock, Texas 78664 GRANTEE'S MAILING ADDRESS: City of Round Rock Attn: City Manager 221 Main Street Round Rock, Texas 78664 AFTER RECORDING RETURN TO: 3.