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R-00-07-13-10E3 - 7/13/2000March 26, 2001 City of Round Rock 221 East Main Street Round Rock, TX 78664 RE: All that certain 8.77 acre tract of land out of the David Curry Survey, Abstract No. 130, in Williamson County, Texas GF# 00024560 Dear City of Round Rock, en.e I r �6 des-,a ,mezZgzo( da % caare/ In reference to the above transaction, enclosed please find your Owner Title Policy, Notice to Purchaser and Warranty Deed. We now have a complete and permanent file on your property and can give you prompt and efficient services if you should sell, refinance, or seek additional financing for improvements. It was a pleasure working with you. We at Longhorn Title Company, Inc. hope you will consider us for all your future title insurance needs. We appreciate your business. Sincerely, wJ.3f Windy Pouch Policy Department Enclosures 801 Main St. 309 N. Main St. 105 E. Main St. 2955 Dawn Dr., Suite C Georgetown, TX 78626 Taylor, TX 76574 v. =Round Rock, TX 78664 Georgetown, TX 78628 (512)869 -2661 (512)365 -8686 (512)244 -6661 (512)930 -1414 (512)930 -4283 Fax: 365 -8030 Fax: 244 -0477 Fax: 930 -1601 Fax: 930 -4194 DH0.28 -G0 THU 02:47 PM LONGHORN TITLE PM FIN TO 'ff1fly 450 446a GENERAL WARRANTY DEEL) In CL L[) O C4 0 Q MARK L. ACKER, Independent Executor: of Q THE ESTATE F GARY L. ACK'E:R d __. !�f eCLQ _ County CV FAX NO. 2440477 Date: .- eC.[ _ZIA 2000 Grantor: MARK L. ACKT F„ Luiepenrlent EXCCU o r t .% THE ESTATE OP GARY L. ACKER Grantor's Mailing Addreee (including county): Grantee: CITY OF ROUND ROCK Grantee's Mailing Address (including County) : GENERAL WARRANTY DRIED - PAGE I c, \,brrr,J,Vv.n, 2 un wn't, CITY OI'' ROUND ROCK 227. East. Main Street Round Rock, Texas 78G6^-• Williamson County CONSIDERATION: TEN AND N0; 100 DOLLARS and o'L1tC:r good and valuable consideration. PROPERTY (including any improvements): P. 01 &Voq V 5100 LL All that certain 3.77 acre Lract of l:ind oLL c“" the David Curry Survey, Abstract No. 130, it RI] ) is nso.i County, Texas, being more particularly described by mater; ,,u,l bounds in Exhibit "A" attached hereto, save and execpt 0.0G? acre tract of lard, net out and dedicated for L'uhlic Right- of•- ''J:_y, being mere particularly deaeribod by metes one bounds in Exhibit "0" attached hereto. RESERVATIONS FROM AND EXCEPTIONS TO CONVE701.NCS AND WARRANTY: Easements, rights -oE -way, and prescriptive righto, whether of record or not; all presently recorded restriction:, reservations, covenants, conditions, oil, gas or other mineral lenses, mineral eeverance9, and other instruments:, other than liens and conveyances, that affect the property; righto of rcl.inining owners in any walls and fences situated on a eor on boundary; any encroachments or overlapping of improvement o; ,atcd tares for the current year.', tho payment of which Grantee assumes, and the following specific reservations and e:t:xepti,cnt,; RECORDERS MEMORANDUM All or pats of the text on this page was not clearly legible for satisfactory recordation. DEG- 28 -00 THU 02:48 PM LONGHORN TITLE 1. Basomcnt dated March 26, 1973 l:crria N.6:. i l low to Texas Power and Light, recorded in Volume 570, IN:vie 78, Deed Records, Williamson County, '.l'•?Y,itr.. 2. 10' wide roadway and public utility r_aron• :nt, along south line of this property as set out in instrument dated December 14, 1977 from Vosco, Inc., a Tcx.,ct cnrposation to Homers 8y 8i11 Kitts, In• . , recorded in Volume 693, Page 231, Deed Records, Williawson County, Texas. 3. A 20' public utility eac;enent and drainage rmsement along the southern portion of the vat,t :ern property line. Together with a 30' Temporary Con,t :l•uctL:i.OF Easement lying adjacent to and parallel with the w, ct eru :i&ue of the permanent 20' easement granted to the City oL Round Rock, recorded in Volume 1512, Pag.: 747, Deed Records, Williamson County, Texas. 4. Any portion of the herein described property which lies within the houndariaa of a road or ro•::dw.iy, 5. An undivided interest in all oil, cars and other minerals in, on, under, or that may be produced from the subject property as reserved in instrument dated October. 21, 1943, from H. W. Sends and Barbara ;:r'a A. Sands to Williamson H. Bright recnrdod its Voltnnu 420, Page 85, Deed Records, Willianaon County, Texas and further defined and described in 4 Royalty A dated September 15, 1901, recorded in Volume 343, Paget 613, Deed Records, Williamson County, Texas. Title to said mineral interest has not been n:ca•ni.n•zd o::e;c Rte tt to ita date of execution. 6. The rights of Brushy Creek, Water c;ont ol. and Improvement District no. 1 to levy tax;+.a and is;nee bonds. Grantor., for the consideration, r.ecaipt of which is acknowl.idgad, and subject to the reservations from .tud t;xceptions to conveyance and warranty, grants, :,orls and conveys Lo Grantee the property, together with all and singular the rights and appurtenances thereto in any wise helonring, to hnv, and hold it to Grantee, Gr.,tnteo's heirs, executor, aclmin :E';Lrators, luccessors or assigns forever. Grantor's heirs, e ..uiminl ,trators and successors are hereby bound to warrant and Ln.covur defend all and singular the property to Grantee and Grantor.':; hairs, executors, administrators, successors and assigns ag,ainsl every person whomsoever lawfully claiming or to claim the saanc' or any part thereof. GENERAL WARRANTY DEED - PAM 2 c: \XVt tJZ,l .PJkg • FAX NO. 2440477 P. 02 RECORDERS MEMORANDUM Rill or puts of the text on this page was not early legible or satisfactory recordation. DEC -28 -CC THU 02:49 PI" LONGHORN TITLE When the context requires, singular nouns and pronouns include the plui 1. STATE OF MiSCO COUNTY OF f?Gt1Q.. of of 1 KELLIE MITCHEM Greene County My Commission Expires July 24, 2001 GENERA', WARRANTY DEED — PAGE 3 r „,wrmc., 2VL n,t:wn a'mi1 FAX NG. 2440477 P. 03 MARK L. 1CKER, It3ep nd nt Executor of Tl ESTATE Ol+ G, \l?Y L. .ti:.KG;it ACKNOWLEDGNELT .3411s ilstrumcnt wa:J acknowledged Ie c .e me on t:hi:J W clay — _UeCeJ01 er , 2000 by MARK L. ACKER, Incder.eudent Executor TEX ESTATE OF GARY L. ACKiR. Notary 1' AFTER RECORDING RETURN TO: Longhorn T? lc Cotspnny, Mc. 105 B. Ma' Round R. o o , Textlla 16664 lie, State of , L xa PREPARED IN THE OFFICE OF: Brown McCarroJ.i OlinoLs & C'ro::siiel.d, P.C. 309 E. Main :it.. Round Rock, rf xac 76664 RECORDERS MEMORANDUM All or parts of die text on this page was not clearly legible for satisfactory recordation. I fl E4,1,4 f FIELD NOTES DESCRIPTION OF 8.713 ACRES FIELD NOTES DESCRIPTION FOR 8.713 ACRES (379,538 SQ. FT.) TRACT OF LAND OUT OF THE DAVID CURRY SURVEY ABSTRACT NO. 130 SITUATED IN THE CITY OF ROUND ROCK, WILLIAMSON COUNTY, TEXAS SAID 8.713 ACRES TRACT BEING A PORTION OF THAT CERTAIN 8.77 ACRE TRACT AS CONVEYED TO GARY ACKERS AND DESCRIBED IN VOLUME 2065, PAGE 354 OF THE WILLIAMSON COUNTY DEED RECORDS (W.C.D.R.) WILLIAMSON COUNTY, TEXAS SAID 8.713 ACRES TRACT BEING MORE PARTICULARLY DESCRIBED BY MEETS AND BOUNDS AS FOLLOWS: BEGINNING AT A 1/2" IRON ROD SET IN THE NORTHERLY RIGHT -OF -WAY (R.O.W.) LINE OF EAST BOWMAN ROAD (65' R.O.W.), SAID POINT ALSO BEING THE SOUTHWEST CORNER OF LOT 1 BLOCK "A" SUNRISE VISTA SECTION TWO A SUBDIVISION OF RECORD AS RECORDED IN CABINET "C ", SLIDE 393 OF THE WILLIAMSON COUNTY PLAT RECORDS ( W.C.P.R.), AND SAME POINT BEING THE NORTHEAST CORNER OF THAT CERTAIN 0.067 ACRE TRACT AS CONVEYED TO THE CITY OF ROUND ROCK, (DEDICATION OF R.O.W.) AS DESCRIBED IN VOLUME 1512, PAGE 743 OF THE (W.C.D.R.) FOR THE POINT OF BEGINNING AND THE SOUTHEAST CORNER OF THE HEREIN DESCRIBED TRACT; THENCE, S 70' 40' 54" W, A DISTANCE OF 293.65 FEET CONTINUING ALONG THE NORTHERLY R.O.W. LINE OF SAID EAST BOWMAN ROAD TO A 1/2" IRON ROD FOUND DISTURBED (RESET), SAME POINT BEING THE SOUTHEAST CORNER OF THAT CERTAIN 1.7204 ACRES TRACT AS CONVEYED TO ROBERT JOHNSON JR., IN VOLUME 883, PAGE 476 OF THE W.C.D.R., SAME POINT BEING THE NORTHWEST CORNER OF SAID 0.067 ACRE TRACT FOR THE SOUTHWEST CORNER OF THE HEREIN DESCRIBED TRACT; THENCE, N 17' 47' 00" W, A DISTANCE OF 1310.71 FEET DEPARTING THE NORTHERLY R.O.W. LINE OF SAID EAST BOWMAN ROAD AND ALONG THE EASTERLY PROPERTY LINE OF SAID 1.7204 ACRES TRACT TO A 1/2" IRON ROD SET, SAID POINT BEING IN THE DEAD END PORTION OF MESA PARK DRIVE (60' R.O.W.) AS DEDICATED TO THE PUBLIC, SUNRISE VISTA SECTION ONE (REVISED) A SUBDIVISION OF RECORD AS RECORDED IN CABINET "E ", SLIDE 52 OF THE W.C.P.R., FOR THE NORTHWEST CORNER OF THE HEREIN DESCRIBED TRACT; THENCE, N 74° 20' 00" E, A DISTANCE OF 289.98 FEET ALONG THE SOUTHERLY REAR LOT LINES OF LOTS 26,19818, BLOCK "B" OF SAID SUNRISE VISTA SECTION ONE (REVISED), SAME POINT BEING THE MOST WESTERLY CORNER OF LOT 15, BLOCK "A" SUNRISE VISTA SECTION FOUR, A SUBDIVISION OF RECORD AS RECORDED IN CABINET "D ", SLIDE 236 OF THE W.C.P.R. AND BEING THE NORTHEAST CORNER OF THE HEREIN DESCRIBED TRACT; THENCE, S 74° 57' 00" E ALONG THE WESTERLY REAR LOT LINES OF LOTS 4 -15, BLOCK "A" OF SAID SUNRISE VISTA SECTION FOUR PASSING AT A DISTANCE OF 1032.05 FEET AN IRON ROD FOUND, SAID POINT BEING THE MOST WESTERLY CORNER OF LOT 3, BLOCK "A" OF THE AFOREMENTIONED SUNRISE VISTA SECTION TWO FOR A TOTAL DISTANCE OF 1292.14 FEET TO THE POINT OF BEGINNING AND CONTAINING 8.713 ACRES (379,538 SQ. FT.) OF LAND MORE OR LESS. EXHIBIT "B" FIELD NOTES describing a 0.067 acre tract or parcel of land out of the David Corry Survey, Abstract No. 130, situated in Williamson County, Texas, being a portion of that certain 8.77 acre tract of land conveyed to University Savings Association by Substitute Trustee's Deed recorded in Volume 1418, Page 596 of the Deed Records of Williamson County, Texas, and being more particularly described by metes and bounds as follows: BEGINNING at a point being the southwest corner of Lot 1, Block "A ", Sunrise Vista, Section Two, as shown on a flat of Record in Cabinet C, Slide 393 of the Plat Records of Williamson County, Texas, being in the cast line of said 8.77 acre tract, also being in the north right -of -way line of Bowman Drive (formerly Bowman Road), for the northeast corner and POINT OF BEGINNING of the hereinafter described 0.067 acre tract; '1'l1ENCfi along the cast line hereof, S 20 deg. 00' 22" F, 10.00 feet to a point being the southeast corner of said 8.77 acre Tract, for the southeast corner hereof; "1'IIF.NCE along the south line hereof, S 68 deg. 28' 22" W, 293.13 feet to a point being the southwest corner of said 8.77 acre tract, also being the southeast corner of that certain 1.92 acre tract of land conveyed to Robert E. Johnson, Jr., Tr., by deed recorded in Volume 883, Page 476 of said Decd Records, fur the southwest corner hereof: THENCE along the west line hereof, being the division line between said 8.77 acre tract and said 1.92 acre tract, N 19 deg. 50' 22" W, 10.00 feet to a point for the northwest corner hereof; TI1ENCE along the north line hereof, N 68 deg. 28' 22" I!, 293.10 feet to the POINT OP BEGINNING of the herein described tract, containing 0.007 acres (or 2930 square feet) of land, more or less. FILED AND RECEDED OFFICIAL PUBLIC RECORDS 01- 02 -200f 04:25 PM 2001000728 JACKIE $24.00 NANCY E. RISTER ,COUNTY CLERK WILLIAMSON COUNTY, TEXAS RETURN 10 a, ina rTURN Ata NOTICE TO PURCHASER or!! 00024500 "- The real property, described below, which you are about to purchase is located an the aRU5HY CREEK WCtD N0.1 District. The distract has taxing authority ylsep o o a authority sau ho and may, subject to voter approval, un a fr an unlimited rate in payment of such bonds. As of this date, the rate of taxes levied by the district on real property incited in the district 16 0.00 on each 5100.00 of aoscssed valuation. If the district has not levied taxes, the most recent projected rate of debt service tax, as of this date, is 000.00 on each $100.00 of assessed valuation. This total and amount of bonds which has been approved i the heel voters which have n bon or at this date, be issued is 000.00 and the aggregate pr andl o f all one or more of the specified facilities of the district and payable in whole or in part. from property taxes is 500.00. The district has the authority to adopt and impose a standby fee on property in the district t that has water, sewer, sanitary or drainage facilities, or other servic l b n o t connected and which does not have a house, building, improvement does not aubstantially utilize the utility capacity available on the property. The district may exercise the authority without holding an election on the ,,attar. As of this date, the amount of the standby fee la 800.00. An unpaid standby fee ie a personal obligation of the person that owned the property at the time of imposition and is secured by a lien on the property. Any person may request a certification from the district etatang rho amount, if any, of unpaid standby fees on a tract of property in the district. The purpose of this district is to provide water, sewer, drainage or flood control facilities, and services within the district through the issuance of bonds payable in whole or in part from property taxes. The cost of these facilities is not included in the purchase price of your property, and these utility facilities are owned or to be owned by the 8.77 r ACRES The UT ( O A F THE DAVID CURRY which you 130 0ILLI DATE: /.2 -R -OO SELLER:NAAR L. P.P. CHE INDEPENDENT EXECUTOR OF THE E3TAT0 OF MART L. ACXER Purehaearis advised that the lnfornatiOn shown on this form is subject to change by the district at any time. The district routinely establishes tax rates during the months of September y through di D t e i �er 06 eaast r affe to for the year in which the tax ates are approved contact the district to determine the status of any current or proposed changes to the inforroatin shown cr. this form. The undersigned purchaser hereby acknowledges receipt of the foregoing notice at or prior to execution of a binding contract o the pur hose of real property. DATE: Pi- 'ZAM State of Texas County of Williamson This instrument was acknowledged bef ce CITY OF ROUND ROCK 1. KELLIE MITCHEM Greene County aw My C Expires et Rec.,.u A 20tlturo to: LONGHORN TITt,0 COMPANY, INC. 105 E. MAIN ROUND ROCK / T£KAS 78664 his aftday of INia ,2000 by du , Count of Texas 1� County of ume ta •n a - ore me on thls7day of l PP�O NAq ( 2000, by This instrument wa - ' MARK L. ADAM INDEPENDENT EXECUTOR Or THE E3TAT4 OF GARY L. %CREA or rmmmriIllWOOR4 NOT T 05LIC, 0TATE RECORDERS MEMORANDUM All or puts of the text on this page was not clearly legible for satisfactory recordation. RETURN TO hoar t ega a to E0 /10 'd LOOM ON ;old 31111 N8OHONO1 Ad L9:I0 1111 0002 -E -030 ••••• -N• t„\' • ete•-• —•°` , FILED AND RECORDED OFFICIAL PUBLIC RECORDS 1 e 01-02-2001 04:25 PM 2001000729 JACKIE $13.00 NANCY E. RISTER ,COUNTY CLERK WILLIAMSON COUNTY, TEXAS RETURN TO 9 ouvYia /€o, Ana DATE: DATE: 12. State of Texas County of Williamson This instrument was acknowledged be£•re - on{J�..µ7�his 014 -day o£ - CITY OF ROUND ROCK 1. - '• " � • n4 "'pT LYE After Recordipg Return to: LONGHORN TYTLE COMPANY, INC. 105 E. MP N ROUND R K, TEXAS 78664 r M .Ct PUR - ER:CITY OF ROCK MEMORAND All RECORD on this page was not dott pam y fo ry tion. datl9� 2001000729 3 Pgs NOTICE TO PURCHASER GF# 00024560 The real property, described below, which you are about to purchase is located in the BRUSHY CREEK WCID NO.1 District. The district has taxing authority separate from any other taxing authority, and may, subject to voter approval, issue an unlimited amount of bonds and levy an unlimited rate in payment of such bonds. As of this date, the rate of taxes levied by the district on real property located in the district is $.00 on each $100.00 of assessed valuation. If the district has not levied taxes, the most recent projected rate of debt service tax, as of this date, is $00.00 on each $100.00 of assessed valuation. This total amount of bonds which has been approved by the voters and which have been or may, at this date, be issued is $00.00 and the aggregate initial principal amounts of all bonds issued for one or more of the specified facilities of the district and payable in whole or in part from property taxes is $00.00. The district has the authority to adopt and impose a standby fee on property in the district that has water, sewer, sanitary or drainage facilities, or other services available, but not connected and which does not have a house, building, or other improvement located thereon and does not substantially utilize the utility capacity available on the property. The district may exercise the authority without holding an election on the matter. As of this date, the amount of the standby fee is $00.00. An unpaid standby fee is a personal obligation of the person that owned the property at the time of imposition and is secured by a lien on the property. Any person may request a certification from the district stating the amount, if any, of unpaid standby fees on a tract of property in the district. The purpose of this district is to provide water, sewer, drainage or flood control facilities, and services within the district through the issuance of bonds payable in whole or in part from property taxes. The cost of these facilities is not included in the purchase price of your property, and these utility facilities are owned or to be owned by the district. The legal description of the property which you are acquiring is as follows: 8.77 ACRES OUT OF THE DAVID CURRY SURVEY, ABSTRACT NO. A -130 WILLIAMSON COUNTY,TEXAS SELLER:MARK L. ACKER INDEPENDENT EXECUTOR OF THE ESTATE OF GARY L. ACKER Purchaser is advised that the information shown on this form is subject to change by the district at any time. The district routinely establishes tax rates during the months of September through December of each year, effective for the year in which the tax rates are approved by the district. Purchaser is advised to contact the district to determine the status of any current or proposed changes to the informatin shown on this form. The undersigned purchaser hereby acknowledges receipt of the foregoing notice at or prior to execution of a binding contract o the purchase of real property. State of Texas County of Williams This instrument wa - •• -• • me on this day of ,2000, by MARK L. ACKER INDEPENDENT EXECUTOR OF THE ESTATE OF GARY L. ACKER NOTARY PUBLIC, STATE OF TEXAS ,2000 by figTURN TO OWNER POLICY OP TITLE INSURANCE Issued By Fidelity National Title INSURANCE COMPANY POLICY NUMBER 1 343- 4 4 3 8 4 SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CON- TAINED IN SCHEDULE BAND THE CONDITIONS AND STIPULATIONS, FIDELITY NATIONAL TITLE INSUR- ANCE COMPANY, aCalifornia corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the Insured by reason of: 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Any statutory or constitutional mechanic's, contractor's, or materialman's lien for labor or material having its inception on or before Date of Policy; 4. Lack of a right of access to and from the land; 5. Lack of good and indefeasible title. The Company also will pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. IN WITNESS HEREOF, Fidelity National Title Insurance Company has caused this Policy to be executed by its President under the seal of the Company, but this Policy is to be valid only when it bears an authorized countersignature, as of the date set forth in Schedule A. Fidelity National Title Insurance Company ,a, /'fir PresManl ATTEST Form 1343 Texas Form T -1: Owner Policy of Title Insurance Reprinted (01 /00) Effective 1/1/93 Secretary EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this Policy and the Company will not pay loss or damage, costs, attorneys' fees or expenses which arise by reason of: 1. (a) My law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to: (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improvement now or hereafter erected on the land; (iii) a separation In ownership or the change In the dimensions or area of the land or any parcel of which the land is or was a part; or (iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any govemmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2 Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking that has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3 Defects, liens, encumbrances, adverse claims or other matters: (a) created, suffered, assumed or agreed to by the Insured Claimant; (b) not known to the Company, not recorded in the public records at Date of Policy, but known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this Policy; (c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy; (e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the estate or interest insured by this Policy. 4. The refusal of any person to purchase, lease or lend money on the estate or interest covered hereby in the land described in Schedule A because of unmarketabllity of the title. 5. Any claim which arises out of the transaction vesting in the person named in paragraph 3 of Schedule A the estate or interest insured by this policy, by reason of the operation of federal bankruptcy, state insolvency, or other state or federal creditors' rights laws that is based on either: () the transaction creating the estate or interest insured by this Policy being deemed a fraudulent conveyance or fraudulent transfer or a voidable distribution or voidable dividend; (n) the subordination or recharacterization of the estate or Interest insured by this Policy as a result of the application of the doctrine of equitable subordination; or (iii) the transaction creating the estate or interest insured by this Policy being deemed a preferential transfer except where the preferential transfer results from the failure of the Company or its issuing agent to timely file for record the Instrument of transfer to the Insured atter delivery or the failure such recordation to Impart notice to a purchaser for value or a judgment or Tien creditor. CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS, The following terms when used In this Policy mean' (a) "insured ": the Insured named in Schedule A, and subject to any rights or defenses the Company would have had against the named Insured, those who succeed to the interest of the named Insured by operation of law as distinguished from purchase including, but not limited to, heirs, distdbutees, devisees, survivors, personal representatives, next of kin, or corporate, partnership or fiduciary successors, and specifically, without limitation, the following: (i) the successors in interest to a corporation resulting from merger or consolidation or the distribution of the assets of the corporation upon partial or complete liquidation; (1) the partnership successors in Interest to a general or limited partnership which dissolves but does not terminate; (iii) the successors in interest to a general or limited partnership resulting from the distribution of the assets of the general or limited partnership upon partial or complete liquidation; (iv) the successors in interest to a joint venture resulting from the distribution of the assets of the joint venture upon partial or complete liquidation; (v) the successor or substitute trustee(s) of a trustee named in a written trust instrument; or (vi) the successors in interest to a trustee or trust resulting from the distribution of all or part of the assets of the trust to the beneficiaries thereof. (b) "insured claimant": an Insured claiming loss or damage. (c) "knowledge" or "known ". actual knowledge, not constructive knowledge or notice that may be imputed to an Insured by reason of the public records as defined in this Policy or any other records which impart constructive notice of matters affecting the land. (d) land ": the land described or referred to In Schedule A, and improvements affixed thereto that by law constitute real property The term land" does not include any property beyond the lines of the area described or referred to In Schedule A, nor any right, title, interest, estate or easement in abutting streets, roads, avenues, alleys, lanes, ways, or waterways, but nothing herein shall modify or limit the extent to which a nght of access to and from the land is insured by this Policy. (e) "mortgage ": mortgage, deed of trust, trust deed, or other security instrument (f) "public records ": records established under state statutes at Date of Policy for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without knowledge. With respect to Section 1(a)(iv) of the Exclusions From Coverage, "public records" also shall include environmental protection liens filed in the records of the clerk of the United States district court for the district in which the land is located. (g) "access ": legal right of access to the land and not the physical condition of access. The coverage provided as to access does not assure the adequacy of access for the use intended. 2. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF TITLE, The coverage of this Policy shall continue in force as of Date of Policy in favor of an Insured only so long as the Insured retains an estate or interest in the land, or holds an indebtedness secured by a purchase money mortgage given by a purchaser from the Insured, or only so long as the Insured shall have liability by reason of covenants of warranty made by the Insured In any transfer or conveyance of the estate or interest. This Policy shall not continue in force In favor of any purchaser from the Insured of either. (i) an estate or interest in the land, or (11) an indebtedness secured by a purchase money mortgage given to the Insured. 3. NQTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT, The Insured shall notify the Company promptly in writing: (1) In case of any litigation as set forth in Section 4(a) below, or (a) in case knowledge shall come to an Insured hereunder of any claim of title or Interest that is adverse to the title to the estate or interest, as Insured, and that might cause loss or damage for which the Company may be liable by virtue of this Policy. If prompt notice shall not be given to the Company, then as to the Insured all liability of the Company shall terminate with regard to the matter or matters for which prompt notice is required; provided, however, that failure to notify the Company shall in no case prejudice the rights of any Insured under this Policy unless the Company shall be prejudiced by the failure and then only to the extent of the prejudice. When, after the date of the Policy, the Insured notifies the Company as required herein of a lien, encumbrance, adverse claim or other defect in title to the estate or Interest in the land insured by this Policy that Is not excluded or excepted from the coverage of this Policy, the Company shall promptly investigate the charge to determine whether the lien, encumbrance, adverse claim or defect is valid and not barred by law or statute. The Company shall notify the Insured in writing, within a reasonable time, of its determination as to the validity or invalidity of the Insured's claim or charge under the Policy. If the Company concludes that the lien, encumbrance, adverse claim or defect is not covered by this Policy, or was otherwise addressed in the closing of the transaction in connection with which this Policy was issued, the Company shall specifically advise the Insured of the reasons of its determination. If the Company concludes that the lien, encumbrance, adverse claim or defect is valid, the Company shall take one of the following actions: (i) institute the necessary proceedings to clear the lien, encumbrance, adverse claim, or defect from the title to the estate as insured; (i) indemnify the Insured as provided in this Policy; (iii) upon payment of appropriate premium and charges therefor, issue to the Insured Claimant or to a subsequent owner, mortgagee or holder of the estate or interest in the land Insured by this Policy, a Policy of Title Insurance without exception for the lien, encumbrance, adverse claim or defect, said Policy to be in an amount equal to the current value of the property or If a Mortgagee Policy the amount of the loan; (iv) indemnify another title Insurance company in connection with Its issuance of a policy(ies) of title insurance without exception for the lien, encumbrance, adverse claim or defect; (v) secure a release or other document discharging the lien, encumbrance, adverse claim or defect; or (vi) undertake a combination of () through (v) herein. 4. DEFENSE AND PROSECUTION OF ACTIONS: DUTY OF INSURED CLAIMANT TO COOPERATE, (a) Upon written request by the Insured and subject to the options contained irlSection 6 of these Conditions and Stipulations, the Company, at its own cost and without reasonable delay, shall provide for the defense of ari Insured ill litigation in which any third party asserts a claim adverse to the title or Interest as insured, but only as to those slated causes of action alleging a defect, lien or encumbrance or other matter insured against by this Policy. The Company shall have the right to select counsel of its choice (subject to the right of the Insured to object for reasonable cause) to represent the Insured as to those I File No: GF 00024560/W Amount of Insurance: $ 152, 000.00 Date of Policy: Jan 02, 2001 1. Name of Insured: CITY OF ROUND ROCK 2. The estate or interest in the land that is covered by this Policy is: 3. Title to the estate or interest in the land is insured as vested in: CITY OF ROUND ROCK 4. The land referred to in this Policy is described as follows: Countersigned: By ISSUED SIMULTANEOUSLY WITH POLICY NO. FEE SIMPLE All that certain 8.77 acre tract of land out of the David Curry Survey, Abstract No. 130, in Williamson County, Texas, being more particularly described by metes and bounds in Exhibit "A" attached hereto, save and except 0.067 acre tract of land, set out and dedicated for Public Right —of —way , being more particularly described by metes and bounds in Exhibit "B" attached hereto. LONGHORN TITLE COMPANY, INC. U2'UEUE UWN, '1hXAb Agent 1343 -A/NCR Printed (02/00) thorized Signature COUNTY CO PROPERTYTYP€ Fidelity National Title OWNER POLICY SCHEDULE A ICB CREDIT INSURANCE COMPANY at 4:25PM RATERULE STATCODE Policy No: 134344384 Premium:$ 1,516.85 a.m. p.m. TOTAL PREMIUM Texas Form T -1: Owner Policy of Title Insurance Schedule A Effective (1-1-93) 85 FIELD NOTES DESCRIPTION OF 8.713 ACRES FIELD NOTES DESCRIPTION FOR 8.713 ACRES (379,538 SQ. FT.) TRACT OF LAND OUT OF THE DAVID CURRY SURVEY ABSTRACT NO. 130 SITUATED IN THE CITY OF ROUND ROCK, WILLIAMSON COUNTY, TEXAS SAID 8.713 ACRES TRACT BEING A PORTION OF THAT CERTAIN 8.77 ACRE TRACT AS CONVEYED TO GARY ACKERS AND DESCRIBED IN VOLUME 2065, PAGE 354 OF THE WILLIAMSON COUNTY DEED RECORDS (W.C.D.R.) WILLIAMSON COUNTY, TEXAS SAID 8.713 ACRES TRACT BEING MORE PARTICULARLY DESCRIBED BY MEETS AND BOUNDS AS FOLLOWS: BEGINNING AT A 112" IRON ROD SET IN THE NORTHERLY RIGHT -OF -WAY (R.O.W.) LINE OF EAST BOWMAN ROAD (65' R.O.W.), SAID POINT ALSO BEING THE SOUTHWEST CORNER OF LOT 1 BLOCK "A" SUNRISE VISTA SECTION TWO A SUBDIVISION OF RECORD AS RECORDED IN. CABINET "C ", SLIDE 393 OF THE WILLIAMSON COUNTY PLAT RECORDS ( W.C.P.R.), AND SAME POINT BEING THE NORTHEAST CORNER OF THAT CERTAIN 0.067 ACRE TRACT AS CONVEYED TO THE CITY OF ROUND ROCK, (DEDICATION OF R.O.W.) AS DESCRIBED IN VOLUME 1512, PAGE 743 OF THE (W.C.D.R.) FOR THE POINT OF BEGINNING AND THE SOUTHEAST CORNER OF THE HEREIN DESCRIBED TRACT; THENCE, S 70' 40' 54" W, A DISTANCE OF 293.85 FEET CONTINUING ALONG THE NORTHERLY R.O.W. LINE OF SAID EAST BOWMAN ROAD TO A 1/2" IRON ROD FOUND DISTURBED (RESET), SAME POINT BEING THE SOUTHEAST CORNER OF THAT CERTAIN 1.7204 ACRES TRACT AS CONVEYED TO ROBERT JOHNSON JR., IN VOLUME 883, PAGE 476 OF THE W.C.D.R., SAME POINT BEING THE NORTHWEST CORNER OF SAID 0.067 ACRE TRACT FOR THE SOUTHWEST CORNER OF THE HEREIN DESCRIBED TRACT; THENCE, N 17 47' 00" W, A DISTANCE OF 1310.71 FEET DEPARTING THE NORTHERLY R.O.W. LINE OF SAID EAST BOWMAN ROAD AND ALONG THE EASTERLY PROPERTY LINE OF SAID 1.7204 ACRES TRACT TO A 112" IRON ROD SET, SAID POINT BEING IN THE DEAD END PORTION OF MESA PARK DRIVE (60' R.O.W.) AS DEDICATED TO THE PUBLIC, SUNRISE VISTA SECTION ONE (REVISED) A SUBDIVISION OF RECORD AS RECORDED IN CABINET "E ", SLIDE 52 OF THE W.C.P.R., FOR THE NORTHWEST CORNER OF THE HEREIN DESCRIBED TRACT; THENCE, N 74' 20' 00" E, A DISTANCE OF 289.98 FEET ALONG THE SOUTHERLY REAR LOT LINES OF LOTS 26,19618, BLOCK "B" OF SAID SUNRISE VISTA SECTION ONE (REVISED), SAME POINT BEING THE MOST WESTERLY CORNER OF LOT 15, BLOCK "A" SUNRISE VISTA SECTION FOUR, A SUBDIVISION OF RECORD AS RECORDED IN CABINET "D ", SLIDE 236 OF THE W.C.P.R. AND BEING THE NORTHEAST CORNER OF THE HEREIN DESCRIBED TRACT; THENCE, S 74° 57' 00" E ALONG THE WESTERLY REAR LOT LINES OF LOTS 4 -15, BLOCK "A" OF SAID SUNRISE VISTA SECTION FOUR PASSING AT A DISTANCE OF 1032.05 FEET AN IRON ROD FOUND, SAID POINT BEING THE MOST WESTERLY CORNER OF LOT 3, BLOCK "A" OF THE AFOREMENTIONED SUNRISE VISTA SECTION TWO FOR A TOTAL DISTANCE OF 1292.14 FEET TO THE POINT OF BEGINNING AND CONTAINING 8.713 ACRES (379,538 SQ. FT.) OF LAND MORE OR LESS. EXHIBIT "B" FIELD NOTFS describing a 0.067 acre tract or parcel of land out of the David Curry Survey, Abstract No. 130, shoaled in Williamson County, 'Texas, being a portion of that certain 8.77 acre tract of land conveyed to University Savings Association by Substitute Trustee's Deed recorded in Volume 1418, Page 596 of the Deed Records of Williatnson County, Texas, and being more particularly described by tnctes and bounds as follows: BEGINNING at a point being the southwest corner of 1_ot 1, Block "A ", Sunrise Vista, Section Two, as shown on a flat of Record in Cabinet C, Slide 393 of the Plat Records of Williamson County, Texas, being in the cast line of said 8.77 acre tract, also being in the north right -of -way line of Bowman Drive (formerly Bowman Road), for the northeast corner and POINT OF BEGINNING of the hereinafter described 0.067 acre tract; - Ti 1ENC1: along the cast line hereof, S 20 deg. 00' 22" F, 10.00 feet to a point being the southeast corner of said 8.77 acre tract, for the southeast corner hereof; "1'1Jf:NCE: along the south line hereof, S 68 deg. 28' 22" W, 293.13 feet to a point. being the southwest corner of said 8.77 acre tract, also being the southeast corner of that certain 1.92 acre tract of land conveyed to Robert L. Johnson. 1r., Tr., by deed recorded in Volume 883, I'age 476 of said Dccd Records, fur the southwest corner hereof; THENCE along the west line hereof, being the division line between said 8.77 acre tract and said 1.92 acts tract, N 19 deg. 50' 22" W, 10.00 feet to a point for the northwest corner hereof; THENCE along the north line hereof, N 68 deg. 28' 22" E. 293.10 feet to the POINT OF BEGINNING of the herein described tract, containing 0.067 acres (or 2930 square feet) of land, more or less. delele ll na cr - N tie ): FILE NO: GF 00024560/W Any or shortages in area V —ping 0) impro'Jomnn 1343-8/NCR Printed (02/00) Fidelity National Title INSURANCE COMPANY OWNER POLICY SCHEDULE B EXCEPTIONS FROM COVERAGE NONE OF RECORD POLICY NO: 134344384 This Policy does not insure against loss or damage (and the Company wit not pay costs, attorneys' fees or expenses) that arise by reason of the terms and conditions of the leases or easements insured, if any, shown in Schedule A and the following matters: I 3. Homestead or community property or survivorship rights, if any, of any spouse of any insured. 4. Any titles or rights asserted by anyone, including, but not limited to, persons, the public, corporations, governments or other entities, a. to tidelands, or lands comprising the shores or beds of navigable or perennial rivers and streams, lakes, bays, gulfs or oceans, or b. to lands beyond the line of the harbor or bulkhead lines as established or changed by any government, or c. to filled -in lands, or artificial islands, or d. to statutory water rights, including riparian rights, or e. to the area extending from the line of mean low tide to the line of vegetation, or the right of access to that area or easement along and across that area. 5. Standby fees, taxes and assessments by any taxing authority for the year 200 land subsequent years, and subsequent taxes and assessments by any taxing authority for prior years due to change in land usage or ownership, but not those taxes or assessments for prior years because of an exemption granted to a previous owner of the property under Section 11.13, Texas Tax Code, or because of improvements not assessed for a previous tax year. 6. The following matters and all terms of the documents creating or offering evidence of the matters (We must insert matters or delete this exception.): Easement dated March 26, 1973 from N. G. Whitlow to Texas Power and Light, recorded in Volume 570, Page 78, Deed Records, Williamson County, Texas. l0" wide roadway and public utility easement along south line Continued on next page Texas Farm T -1: Owner Policy of Title Insurance Schedule B Effective (1 -1 -93) Revised (12/30/99) 0 134344384 EXCEPTIONS FROM COVERAGE CONTINUED: of this property', as set out-in instrument_ dated December 14, `1977 from Vosco, Inc, -a- Texas Corporation to Homes By Bill Kitts, `Inc recorded in - Volume 693, Page 231, Deed Records, 'Williamson County, Texas. .. A 20' public utility easement and drainage easement along the. - southern portion of the eastern property line.- Together with a 30' Temporary Construction Easement lying - adjacent to and parallel with the western line of, the = permanent 20' easement granted to the City of Round Rock, Recorded in Volume 1512, Page; 747, Deed Records, Williamson County,- Texas. • $ ' An undivided 1/2 interest in all oil,' gas and other minerals under, or that may be produced from the subject property as reserved in instrument dated October 21, 1943, from H:• W. .Sands and Barbara A.•Sands to William H: Bright recorded in Volume 320, Page 85, Deed Records, Williamson County, Texas • '.and further defined and described in a Royalty Agreement dated• September 15, 1947, recorded in Volume 343, Page 613 Deed-: Records - Williamson County, Texas. Title to said mineral -' interest has not been , examined 'subsequent to its date of execution. _ - F The rights of Brushy` Creek Water Control and Improvement District No. 1 to levy taxes and issue bonds.. - All visible and.apparent easements and all underground easements, the existence of which may arise by unrecorded grant or by use. , .r Rights of parties in possession. CONTINUATION FORM - 4 PLY SNAP - - F0009 102 (10/91) stated causes of action and shall not be liable for and will not pay for fees other counsel. The Company will not pay any fees, costs or expenses incurred by the Insured in the defense of those causes of action that allege matters not insured against by this Policy. (b) The Company shall have the right, at its own cost, to Institute and .prosecute any action or proceeding or to do any other act that In its opinion may be necessary or desirable to establish the title to the estate or interest as Insured, or to prevent or reduce loss or damage to the Insured. The Company may take any appropriate action under the terms of this Policy, whether or not it shall be liable hereunder, and shall not thereby concede liability or waive any provision of this Policy. If the Company shall exercise Its rights under this paragraph, it shall do so diligently. (c) Whenever the Company shall have brought an action or interposed a defense as required or permitted by the provisions of this Policy, the Company may pursue any litigation to final determination by a court of competent jurisdiction and expressly reserves the right, in its sole discretion, to appeal from any adverse judgment or order. (d) In all cases where this Policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding, the Insured shall secure to the Company the right to so prosecute or provide defense In the action or proceeding, and all appeals therein, and permit the Company to use, at its option, the name of the Insured for this purpose. Whenever requested by the Company, the Insured, at the Company's expense, shall give the Company all reasonable aid: (I) 111 any action or proceeding, securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and (ii) in any other lawful act that in the opinion of the Company may be necessary or desirable to establish the title to the estate or interest as insured. If the Company is prejudiced by the failure of the Insured to fumish the required cooperation, the Company's obligations to the Insured under the Policy shall terminate, Including any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. 5. PROOF OF LOSS OR DAMAGE, In addition to and after the notices required under Section 3 of these Conditions and Stipulations have been provided the Company, a proof of loss or damage signed and swom to by the Insured Claimant shall be furnished to the Company within 91 days after the Insured Claimant shall ascertain the facts giving rise to the loss or damage. The proof of loss or damage shall describe the defect in, or lien or encumbrance on the title, or other matter insured against by this Policy that constitutes the basis of loss or damage and shall state, to the extent possible, the basis of calculating the amount of the loss or damage. If the Company is prejudiced by the failure of the Insured Claimant to provide the required proof of loss or damage, the Company's obligations to the Insured under the Policy shall terminate, including any liability or obligation to defend, prosecute, or continua any litigation, with regard to the matter or matters requiring such proof of loss or damage. In addition, the Insured Claimant may reasonably be required to submit to examination under oath by any authorized representative of the Company and shall produce for examination, Inspection and copying, at such reasonable times and places as may be designated by any authorized represetative of the Company, all records, books, ledgers, checks, correspondence and memoranda, whether bearing a date before or after Date of Policy, which reasonably pertain to the loss or damage. Further, If requested by any authorized representative of the Company, the Insured Claimant shall grant its permission, in writing, for any authorized representative of the Company to examine, inspect and copy all records, books, ledgers, checks correspondence and memoranda in the custody or control of a third party, which reasonably pertain to the loss or damage. All information designated as confidential by the Insured Claimant provided to the Company pursuant to this Section shall not be disclosed to others unless, in the reasonable judgment of the Company, it is necessary in the administration of the claim. Failure of the Insured Claimant to submit for examination under oath, produce other reasonably requested Information or grant permission to secure reasonably necessary information from third parties as required In this paragraph shall terminate any liability of the Company under this Policy as to that claim. 6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS: TERMINATION OF LIABILITY, In case of a claim under this Policy, the Company shall have the following additional options. (a) To pay or Tender Payment of the Amount of Insurance. To pay or tender payment of the Amount of Insurance under this Policy, together with any costs, attorneys' fees and expenses Incurred by the Insured Claimant, which were authorized by the Company, up to the time of payment or tender of payment and which the Company is obligated to pay. Upon the exercise by the Company of this option, all liability and obligations to the Insured under this Policy, other than to make the payment required, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, and the Policy shall be surrendered to the Company for cancellation. (b) To Pay or Otherwise Settle With Parties Other than the Insured or With the Insured Claimant. (i) to pay or otherwise settle with other parties for or in the name of an Insured Claimant any claim insured against under this Policy, together with any costs, attorneys' fees and expenses Incurred by the Insured Claimant, which were authorized by the Company up to the time of payment and which the Company is obligated to pay; or (ii) to pay or otherwise settle with the Insured Claimant the loss or damage provided for under this Policy, together with any costs, attorneys' fees and expenses incurred by the Insured Claimant, which were authorized by the Company up to the time of payment and which the Company is obligated to pay. Upon the exercise by the Company of either of the options provided for in paragraphs (b)(i) or (ii), the Company's obligations to the Insured under this Policy for the claimed loss or damage, other than the payments required to be made, shall terminate. including any liability or obligation to defend, prosecute or continue any litigation. 7. DETERMINATION . EXTENT OF LIABILITY AND COINSURANCE, This Policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the Insured Claimant who has suffered loss or damage by reason of matters insured against by this Policy and only to the extent herein described. (a) The liability of the Company under this Policy shall not exceed the least of: (i) the Amount of Insurance stated in Schedule A; (j) the difference between the value of the insured estate or Interest as insured and the value of the insured estate or Interest subject to the defect, lien or encumbrance insured against by this Policy at the date the Insured Claimant is required to furnish to Company a proof of loss or damage in accordance with Section 5 of these Conditions and Stipulations. (b) In the event the Amount of Insurance stated in Schedule A at the Date of Policy Is less than 80 percent of the value of the Insured estate or interest or the full consideration paid for the land, whichever is less, or If subsequent to the Date of Policy an improvement is erected on the land which increases the value of the insured estate or Interest by at least 20 percent over the Amount of Insurance stated in Schedule A, then this Policy is subject to the following: (i) where no subsequent improvement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the proportion that the Amount of Insurance at Date of Policy bears to the total value of the insured estate or interest at Date of Policy,or (i) where a subsequent improvement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the proportion that 120 percent of the Amount of Insurance stated in Schedule A bears to the sum of the Amount of Insurance stated in Schedule A and the amount expended for the improvement The provisions of this paragraph shall not apply to costs, attorneys' fees and expenses for which the Company is liable under this Policy, and shall only apply to that portion of any loss which exceeds, in the aggregate, 10 percent of the Amount of Insurance stated In Schedule A. (c) The Company will pay only those costs, attorneys' fees and expenses incurred in accordance with Section 4 of these Conditions and Stipulations. 8. APPORTIONMENT If the land described in Schedule A consists of two or more parcels that are not used as a single site, and a loss is established affecting one or more of the parcels but not all, the loss shall be computed and settled on a pro rata basis as if the Amount of Insurance under this Policy was dk4ded pro rata as to the value on Date of Policy of each separate parcel to the whole, exclusive of any improvements made subsequent to Date of Policy, unless a liability or value has otherwise been agreed upon as to each parcel by the Company and the Insured at the time of the Issuance of this Policy and shown by an express statement or by an endorsement attached to this Policy. 9. LIMITATION OF LIABILTY, • (a) If the Company establishes the title, or removes the alleged defect, lien or encumbrance, or cures the lack of a right of access to or from the land, all as insured, or takes action in accordance with Section 3 or Section 6, in a reasonably diligent manner by any method, Including litigation and the completion of any appeals therefrom, it shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or damage caused thereby. (b) In the event of any litigation; including litigation by the Company or with the Company's consent, the Company shall have no liability for loss or damage until there has been a final determination by a court of competent jurisdiction, and disposition of all appeals therefrom, adverse to the btle as Insured. (c) The Company shall not be liable for loss or damage to any Insured for liability voluntarily assumed by the Insured In setting any claim or suit without the prior written consent of the Company. 10. REDUCTION OF INSURANCE: RE• UCTIONOR TERMINATION OFLIABILITY, All payments under this Policy, except payments made for costs, attorneys' fees and expenses, shall reduce the amount of the insurance pro Canto. 11. LIABILITY NONCUMULATIVE, It is expressly understood that the Amount of Insurance under this Policy shall be reduced by any amount the Company may pay under any Policy insuring a mortgage to which exception is taken In Schedule B or to which the Insyred#jas agreed, assumed or taken subject, or which is hereafter executed by an Insured and which is a charge or lien on the estate or Interest described or referred to in Schedule A, and the amount so paid shall be deemed a payment under this Policy to the Ins::..d owner. 12. PAYMENT OF LOSS (a) No payment shall be made without producing this Policy for endorsement of the payment unless the Policy has been lost or destroyed, in which case proof of loss or destruction shall be famished to the satisfaction of the Company. (b) When liability and the extent of loss or damage has been definitely fixed in accordance with these Conditions and Stipulations, the loss or damage shall be payable within 30 days thereafter. 13. SUBROGATION UPON PAYMENT OR SETTLEMENT (a) The Companv's Right of Subrogation. Whenever the Company shall have settled and paid a claim under this Policy, all rights of subrogation shall vest in the Company unaffected by any act of the Insured Claimant. The Company shall be subrogated to and be entitled to all rights and remedies that the Insured Claimant would have had against any person or property in respect to the claim had this policy not been Issued. If requested by the Company, the Insured Claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect this right of subrogation. The Insured Claimant shall permit the Company to sue, compromise or settle in the name of the Insured Claimant and to use the name of the in any transaction or litigation involving these rights or remedies. If a payment on account of a claim does not fully cover the loss of the Insured Claimant, the Company shall be subrogated to these rights and remedies in the proportion that the Company's payment bears to the whole amount of the loss. If loss should result from any act of the Insured Claimant, as stated above, that act shall not void this Policy, but the Company, in that event, shall be required to pay only that part of any losses insured against by this Policy that shall exceed the amount, if any, lost to the Company by reason of the impairment by the Insured Claimant of the Company's right of subrogation. •. li.. (b) Ir. ono, ' 81.1 The Company's right of subrogation against non - insured obligors shall exist and shall include, without limitation, the rights of the Insured to indemnities, guaranties, other policies of insurance or bonds, notwithstanding any terms or conditions contained in those Instruments that provide for subrogation rights by reason of this Policy. 14. ARBITRATION Unless prohibited by applicable law or unless this arbitration section is deleted by specific provision in Schedule B of this Policy, either the Company or the Insured may demand arbitration pursuant to the Title Insurance Arbitration Rules of the American Arbitration Association. Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the Insured arising out of or relating to this Policy, and service of the Company in connection with Its Issuance or the breach of a Policy provision or other obligation. All arbitrable matters, when the Amount of Insurance is $1,000,000 or less SHALL BE arbitrated at the request of either the Company or the Insured, unless the Insured Is an individual person (as distinguished from a corporation, trust, partnership, association or other legal entity). All arbitrable matters when the Amount of Insurance is in excess of $1,000,000 SHALL BE arbitrated only when agreed to by both the Company and the Insured. Arbitration pursuant to the Policy and under the Rules in effect on the date the demand for arbitration is made, or at the option of the Insured, the Rules in effect at the Date of Policy shall be binding upon the parties. The award may include attorneys' lees only If the laws of the state In which the land is located permit a court to award attorneys' fees to a prevailing party. Judgment upon the award rendered by Arbitrator(s) may be entered In any court having jurisdiction thereof. The law of the situs of the land shall apply to any arbitration under the Title Insurance Arbitration Rules. A copy of the Rules may be obtained from the Company upon request 15. LIABILITY LIMITED TO THIS POLICY: POLICY ENTIRE CONTRACT. (a) This Policy together with all endorsements, if any, attached hereto by the Company is the entire Policy and contract between the Insured and the Company. In interpreting any provision of this Policy, this Policy shall be construed as a whole. (b) Any claim of loss or damage whether or not based on negligence and which arises out of the status of the title to the estate or Interest covered hereby or by any action asserting such claim shall be restricted to this Policy. (c) No amendment of or endorsement to this Policy can be made except by a writing endorsed hereon or attached hereto signed by either the President, a Vice President, the Secretary, an Assistant Secretary or validating officer or authorized signatory of the Company. 16. SEVERABILITY In the event any provision of the Policy is held invalid or unenforceable under applicable law, the Policy shall be deemed not to include that provision and all other provisions shall remain in full force and effect. 17. NOTICES WHERE SENT, All notices required to be given the Company and any statement in writing required to be furnished the Company shall Include the number of this Policy and shall be addressed to the Company at 1945 Walnut Hill Lane, Irving, TX 75038. COMPLAINT NOTICE, Should any dispute arise about your premium or about a claim that you have flied, contact the agent or write to the Company that Issued the Policy. If the problem is not resolved, you also may write the Texas Department of Insurance, P.O. Box 149091, Austin, TX 78714- 9091, Fax No. (512) 475 -1771. This notice of complaint procedure Is for Information only and does not become a part or condition of this Policy. 0 O a o 0 RESOLUTION NO. R- 00- 07- 13 -10E3 WHEREAS, the City desires to purchase an 8.77 acre tract of land along Bowman Road for parkland, and WHEREAS, Gary L. Acker, the owner of the property, has agreed to sell said property to the City, Now Therefore BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS, That the Mayor is hereby authorized and directed to execute on behalf of the City a Real Estate Contract with Gary L. Acker, for the purchase of the above described property, a copy of said Real Estate Contract being attached hereto and incorporated herein for all purposes. The City Council hereby finds and declares that written notice of the date, hour, place and subject of the meeting at which this Resolution was adopted was posted and that such meeting was open to the public as required by law at all times during which this Resolution and the subject matter hereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act, Chapter 551, Texas Government Code, as amended, and the Act. ATTEST: RESOLVED this 13th day of J y, 2010 At I 11 1.1 46.- -T A. STLUKA, O% . , Mayor City of Round Rock, Texas K \WP CS \RESOLVrr\KOOnxax.weo /ac E LAND, City Secretary State of Texas County of Williamson THIS REAL ESTATE CONTRACT ( "Contract ") is made by and between Gary L. Acker (referred to in this Contract as "Seller ") and the City of Round Rock, a Texas Home Rule City (referred to in this Contract as "Purchaser "), upon the terms and conditions set forth in this Contract. By this Contract, Seller sells and agrees to convey, and Purchaser purchases and agrees to pay for, the tract of land containing approximately Eight and 77/100 (8.77) acres of land situated in Williamson County, Texas, being more particularly described in Exhibit "A" attached to and incorporated in this Contract by reference for all purposes, (a more detailed legal description will be determined from the survey provided for in this Contract); 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 "), together with any improvements, fixtures, and personal property situated on and attached to the Property, for the consideration and upon and subject to the terms, provisions, and conditions set forth below. 2.01. The purchase price for the Property shall be the sum of One Hundred Fifty -two Thousand and no /100 Dollars ($152,000.00). 2.02. The Purchase Price shall be payable in cash at the closing. C, \"PDOCS \ACITY \FORMS \ACkerjark 3.WPD /s1s REAL ESTATE CONTRACT ARTICLE I PURCHASE AND SALE ARTICLE II PURCHASE PRICE Amount of Purchase Price Payment of Purchase Price 1 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.) Preliminary Title Commitment 3.02. Within thirty (30) days after the date hereof, Seller, at Seller's sole cost and expense, shall have caused Longhorn Title Insurance Company ( "Title Company ") to issue a preliminary title report (the "Title Commitment ") accompanied by copies of all recorded documents relating to easements, rights -of -way, etc., affecting the Property. Purchaser shall give Seller written notice on or before the expiration of fifteen (15) days after Purchaser receives the Title Commitment that the condition of title as set forth in the Title Commitment is or is not satisfactory, and in the event Purchaser states that the condition is not satisfactory, Seller shall promptly undertake to eliminate or modify all unacceptable matters to the reasonable satisfaction of Purchaser. In the event Seller is unable to do so within thirty (30) days after receipt of written notice, Purchaser may terminate this Contract and it shall thereupon be null and void for all purposes and the Escrow Deposit shall be forthwith returned by the Title Company to Purchaser, as provided in Article VII. Purchaser's failure to give Seller this written notice shall be deemed to be Purchaser's acceptance of the Title Commitment. New Surveys and Tests 3.04. Within sixty (60) days after the date hereof Purchaser is granted the right to conduct engineering surveys, environmental surveys, feasibility studies of the Property, and any and all other surveys or studies deemed necessary to Purchaser, and in this connection Purchaser or Purchaser's designated agents may enter upon the premises for purposes of soil analysis, core drilling, or other tests which may be deemed necessary to Purchaser or Purchaser's engineer. If it should be determined by Purchaser in Purchaser's sole judgment that the Property is not suitable for the intended purposes, then and in this event, Purchaser may, on 2 written notice to Seller received prior to the end of the Feasibility Period, terminate this Contract and it shall be null and void for all purposes and the Escrow Deposit shall be forthwith returned by the Title Company to Purchaser, as provided in Article VII. if the written notice is not received prior to the expiration of the Feasibility Period, the condition shall be deemed to be acceptable and any objection thereto shall be deemed to have been waived for all purposes. Feasibility of Intended Project 3.05. Within sixty (60) days after date hereof (herein referred to as the "Feasibility Period ") Purchaser is granted the right to determine the feasibility of the project for which the Property is intended. If it should be determined by Purchaser in Purchaser's sole judgment that the project for which the Property is intended is not feasible, then and in this event, Purchaser may, on written notice to Seller received prior to the expiration of the Feasibility Period, terminate this Contract and it shall be null and void for all purposes and the Escrow Deposit shall be forthwith returned by the Title Company to Purchaser, as provided in Article VII. If the written notice is not received within the Feasibility Period, the condition shall be deemed to be acceptable and any objection thereto shall be deemed to have been waived for all purposes. Miscellaneous Conditions 3.06. 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: (1) There are no parties in possession of any portion of the Property as lessees, tenants at sufferance, or trespassers; 3 (2) There is no pending or threatened condemnation or similar proceeding or assessment affecting the Property, or any part thereof, nor to the best knowledge and belief of Seller is any such proceeding or assessment contemplated by any governmental authority; (3) Seller has complied with all applicable laws, ordinances, regulations, statutes, rules and restrictions relating to the Property, or any part thereof; (4) The Property has full and free access to and from public highways, streets or roads and, to the best knowledge and belief of Seller, there is no pending or threatened governmental proceeding that would impair or result in the termination of this access. ARTICLE V CLOSING Closing Date 5.01. The closing shall be held at the Title Company on or before thirty days after the end of the Feasibility Period, or at such time, date, and place as Seller and Purchaser may agree upon (which date is herein referred to as the "closing date "). Seller's Obligations at Closing 5.02. At the closing Seller shall: (1) Deliver to Purchaser a duly executed and acknowledged General Warranty Deed conveying good and marketable title in fee simple to all of the Property, free and clear of any and all liens, encumbrances, conditions, easements, assessments, 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) Deliver to Purchaser a Texas Owner's Title Policy at Seller's sole expense, issued by Title Company in Purchaser's favor 4 in the full amount of the purchase price, insuring Purchaser's fee simple title 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;" 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." (c) Deliver to Purchaser possession of the Property. Purchaser's Obligations at Closing 5.03. At the Closing, Purchaser shall pay the cash portion of the purchase price. 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. All special taxes or assessments to the closing date shall be paid by Seller. 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 Seller. 5 (2) Deed, tax certificates, and title curative matters, if any, paid by Seller (3) All other closing costs shall be paid by Purchaser. (4) Attorney's fees paid by each respectively. ARTICLE VI REAL ESTATE COMMISSIONS It is understood and agreed that the only broker involved in the negotiation and consummation of this Contract has been and is O'Barr Rost Inc., and conditioned upon the closing of the transaction contemplated hereby, a commission in the amount of $7,629.00 shall be payable to the aforementioned broker. This commission is to be payable in cash at the closing. If this Contract is terminated for any reason prior to closing, there will be no commission due or payable hereunder. All real estate commissions occasioned by the consummation of this Contract shall be the sole responsibility of Seller, and Seller agrees to indemnify and hold harmless Purchaser from any and all claims for these commissions. Each of the parties represents to the other that it has not incurred and will not incur any liability for brokerage fees or agent's commissions in connection with this Contract other than the liability of Seller as set forth in this paragraph. ARTICLE VII ESCROW DEPOSIT For the purpose of securing the performance of Purchaser under the terms and provisions of this Contract, Purchaser has delivered to the Title Company the sum of One Thousand Dollars ($1,000), the Escrow Deposit, which shall be paid by the Title Company to Seller in the event Purchaser breaches this Contract as provided in Article IX hereof. The Escrow Deposit includes any amounts paid by Purchaser to extend the Feasibility Period as provided above in paragraph 3.05. At the closing, the Escrow Deposit shall be paid over to Seller and applied to the cash portion of the purchase price, provided, however, that in the event the Purchaser shall have given written notice to the Title Company that one or more of the conditions to its obligations set forth in Article III have not been met, or, in the opinion of Purchaser, cannot be satisfied, in the manner and as provided for in Article III, then the Escrow Deposit (less $100.00) shall be forthwith returned by the Title 6 Company to Purchaser. Seller shall have the right to retain the aforesaid $100.00 as independent consideration for entering into this Contract. ARTICLE VIII 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; (2) request that the Escrow Deposit shall be forthwith returned by the Title Company to Purchaser; or (3) bring suit for damages against Seller. ARTICLE IX 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 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. ARTICLE X MISCELLANEOUS Assignment of Contract 10.01. This Contract may be assigned by Purchaser provided that Purchaser's assignee, shall expressly assume all Purchaser's liabilities, obligations, and duties hereunder. On delivery to Seller of an instrument in writing whereby the assignee assumes all of the provisions of this Contract to be performed by Purchaser, then, in that event, Purchaser shall be released and discharged of all further liability hereunder. 7 Survival of Covenants 10.02. Any of the representations, warranties, covenants, and agreements of the parties, as well as any rights and benefits of the parties, pertaining to a period of time following the closing of the transactions contemplated hereby shall survive the closing and shall not be merged therein. Notice 10.03. 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 set forth below. (1) All notices to the Purchaser shall be sent to: City of Round Rock 221 E. Main St. Round Rock, Texas 78664 Attention: Robert L. Bennett, City Manager Facsimile Number: 512- 218 -7097 with copies being sent to: Stephan L. Sheets City Attorney 309 E. Main St. Round Rock, Texas 78664 Facsimile Number: 512 - 255 -8986 (2) All notices sent to Seller shall be sent to: GAvt AJZ e - 15 vs, 414._ (N,2.AVK pLlc. G57).1 I�1,eNm 1 917 se i• 5545 with copies being sent to: 8 Texas Law to Apply 10.04. 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 Sound 10.05. 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 10.06. 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 10.07. 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 10.08. Time is of the essence in this Contract. Gender 10.09. 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. 9 Memorandum of Contract 10.10. Upon request of either party, both parties shall promptly execute a memorandum of this Contract suitable for filing of record. Compliance 10.11. 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 10.13. This Contract shall be effective as of the date it is approved by the City Council, which date is indicated beneath the Mayor's signature below. SELLER: v /n r'7 , L. A ckd Gary L r Date: 7 00 PURCHASER: City o Round Rock, Texas 221 E. Main St. Round Rock, Texas Date: 7 -17- Co 10 RECEIPT On this p"!J} day of July, 2000, Escrow Agent with Longhorn Title Insurance Company acknowledges receipt of this Contract and Earnest Money $1,000.00 in the form of a c eck. 11 ,a2.,„7fg Escrow Agent Longhorn Tit19 Company /' 5r /v� • Being 8.77 acres of land out of the David Curry Survey, Abstract No. 130, in Williamson County, Texas, and being a part of a 126 acre tract conveyed by Wm. V. Alsabrook and wife, to O.H. McAdams and wife by deed recorded in Vol. 368, page 278, of the Deed Records, of Williamson County, Texas, and being a portion of a 45 acre tract remaining out of a 50 acre tract conveyed by O.H. McAdams and wife, to the Veterans Land Board of the State of Texas, by deed dated April 12, 1952, and more fully described by metes and bounds as follows: BEGINNING in the North line of a county road, 508.5 feet S 70 deg. 30' W, from the S.E. corner of said 45 acre tract; THENCE N 17 deg. 54' W, 1302 feet to the North line of said 45 acre tract, 508.9 feet westerly from its N.E. corner; THENCE S 74 deg. 18' W, 290.6 feet with the North line of said 45 acre tract to the N.E. corner of a 5 acre tract; THENCE S 17 deg. 44' E, with the East line of said 5 acre tract 1321.5 feet to the North line of said County Road; THENCE N 70 deg. 30' E, 294.1 feet with the said road to the PLACE OF BEGINNING and containing 8.77 acres of land, more or less. SAVE AND EXCEPT THE FOLLOWING TRACT: FIELD NOTES describing a 0.067 acre tract or parcel of land out of the David Curry Survey, Abstract No. 130, situated in Williamson County, Texas, being a portion of that certain 8.77 acre tract of land conveyed to University Savings Association by Substitute Trustee's Deed recorded in Volume 1418, Page 596 of the Deed Records of Williamson County, Texas, and being more particularly described by metes and bounds as follows: BEGINNING at a point being the southwest corner of Lot 1, Block "A ", Sunrise Vista, Section Two, as shown on a Plat of Record in Cabinet C, Slide 393 of the Plat Records of Williamson County, Texas, being in the east line of said 8.77 acre tract, also being in the north right -of -way line of Bowman Drive (formerly Bowman Road), for the northeast corner and POINT OF BEGINNING of the hereinafter described 0.067 acre tract; THENCE along the east line hereof, S 20 deg. 00' 22" E, 10.00 feet to a point being the southeast corner of said 8.77 acre tract, for the southeast corner hereof; THENCE along the south line hereof, S 68 deg. 28' 22" W, 293.13 feet to a point being the southwest corner of said 8.77 acre tract, also being the southeast corner of that certain 1.92 acre tract of land conveyed to Robert E. Johnson, Jr., Tr., by deed recorded in Volume 883, Page 476 of said Deed Records, for the southwest corner hereof; THENCE along the west line hereof, being the division line between said 8.77 acre tract and said 1.92 acre tract, N 19 deg. 50' 22" W, 10.00 feet to a point for the northwest corner hereof; THENCE along the north line hereof, N 68 deg. 28' 22" E, 293.10 feet to the POINT OF BEGINNING of the herein described tract, containing 0.067 acres (or 2930 square feet) of land, more or less. EXHIBIT DATE: July 7, 2000 SUBJECT: City Council Meeting — July 13, 2000 ITEM: 10.E.3. Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Gary L. Acker for the purchase of approximately 8.77 acres of land along Bowman Road for parkland. Staff Resource Person: Sharon Prete, Parks and Recreation Director. RESOLUTION NO. R- 00- 07- 13 -10E3 WHEREAS, the City desires to purchase an 8.77 acre tract of land along Bowman Road for parkland, and WHEREAS, Gary L. Acker, the owner of the property, has agreed to sell said property to the City, Now Therefore BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS, That the Mayor is hereby authorized and directed to execute on behalf of the City a Real Estate Contract with Gary L. Acker, for the purchase of the above described property, a copy of said Real Estate Contract being attached hereto and incorporated herein for all purposes. The City Council hereby finds and declares that written notice of the date, hour, place and subject of the meeting at which this Resolution was adopted was posted and that such meeting was open to the public as required by law at all times during which this Resolution and the subject matter hereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act, Chapter 551, Texas Government Code, as amended, and the Act. ATTEST: RESOLVED this 13th day of J LAND, City Secretary Ki\ WPDOCS \RESOLUTI \R000I3E3.WPD /ec y, 20.0 1 . of T A. STLUKA, f., Mayor City of Round Rock, Texas State of Texas County of Williamson REAL ESTATE CONTRACT THIS REAL ESTATE CONTRACT ( "Contract ") is made by and between Gary L. Acker (referred to in this Contract as "Seller ") and the City of Round Rock, a Texas Home Rule City (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 of land containing approximately Eight and 77/100 (8.77) acres of land situated in Williamson County, Texas, being more particularly described in Exhibit "A" attached to and incorporated in this Contract by reference for all purposes, (a more detailed legal description will be determined from the survey provided for in this Contract); 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 "), together with any improvements, fixtures, and personal property situated on and attached to the Property, for the consideration and upon and subject to the terms, provisions, and conditions set forth below. 2.01. The purchase price for the Property shall be the sum of One Hundred Fifty -two Thousand and no /100 Dollars ($152,000.00). 2.02. The Purchase Price shall be payable in cash at the closing. C \"P"OCS \ACITY \POm S \Acker _park_] .WPD /sls ARTICLE II PURCHASE PRICE Amount of Purchase Price Payment of Purchase Price 1 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.) Preliminary Title Commitment 3.02. Within thirty (30) days after the date hereof, Seller, at Seller's sole cost and expense, shall have caused Longhorn Title Insurance Company ( "Title Company ") to issue a preliminary title report (the "Title Commitment ") accompanied by copies of all recorded documents relating to easements, rights -of -way, etc., affecting the Property. Purchaser shall give Seller written notice on or before the expiration of fifteen (15) days after Purchaser receives the Title Commitment that the condition of title as set forth in the Title Commitment is or is not satisfactory, and in the event Purchaser states that the condition is not satisfactory, Seller shall promptly undertake to eliminate or modify all unacceptable matters to the reasonable satisfaction of Purchaser. In the event Seller is unable to do so within thirty (30) days after receipt of written notice, Purchaser may terminate this Contract and it shall thereupon be null and void for all purposes and the Escrow Deposit shall be forthwith returned by the Title Company to Purchaser, as provided in Article VII. Purchaser's failure to give Seller this written notice shall be deemed to be Purchaser's acceptance of the Title Commitment. New Surveys and Tests 3.04. Within sixty (60) days after the date hereof Purchaser is granted the right to conduct engineering surveys, environmental surveys, feasibility studies of the Property, and any and all other surveys or studies deemed necessary to Purchaser, and in this connection Purchaser or Purchaser's designated agents may enter upon the premises for purposes of soil analysis, core drilling, or other tests which may be deemed necessary to Purchaser or Purchaser's engineer. If it should be determined by Purchaser in Purchaser's sole judgment that the Property is not suitable for the intended purposes, then and in this event, Purchaser may, on 2 written notice to Seller received prior to the end of the Feasibility Period, terminate this Contract and it shall be null and void for all purposes and the Escrow Deposit shall be forthwith returned by the Title Company to Purchaser, as provided in Article VII. If the written notice is not received prior to the expiration of the Feasibility Period, the condition shall be deemed to be acceptable and any objection thereto shall be deemed to have been waived for all purposes. Feasibility of Intended Project 3.05. Within sixty (60) days after date hereof (herein referred to as the "Feasibility Period ") Purchaser is granted the right to determine the feasibility of the project for which the Property is intended. If it should be determined by Purchaser in Purchaser's sole judgment that the project for which the Property is intended is not feasible, then and in this event, Purchaser may, on written notice to Seller received prior to the expiration of the Feasibility Period, terminate this Contract and it shall be null and void for all purposes and the Escrow Deposit shall be forthwith returned by the Title Company to Purchaser, as provided in Article VII. If the written notice is not received within the Feasibility Period, the condition shall be deemed to be acceptable and any objection thereto shall be deemed to have been waived for all purposes. Miscellaneous Conditions 3.06. 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: (1) There are no parties in possession of any portion of the Property as lessees, tenants at sufferance, or trespassers; 3 (2) There is no pending or threatened condemnation or similar proceeding or assessment affecting the Property, or any part thereof, nor to the best knowledge and belief of Seller is any such proceeding or assessment contemplated by any governmental authority; (3) Seller has complied with all applicable laws, ordinances, regulations, statutes, rules and restrictions relating to the Property, or any part thereof; (4) The Property has full and free access to and from public highways, streets or roads and, to the best knowledge and belief of Seller, there is no pending or threatened governmental proceeding that would impair or result in the termination of this access. ARTICLE V CLOSING Closing Date 5.01. The closing shall be held at the Title Company on or before thirty days after the end of the Feasibility Period, or at such time, date, and place as Seller and Purchaser may agree upon (which date is herein referred to as the "closing date "). Seller's Obligations at Closing 5.02. At the closing Seller shall: (1) Deliver to Purchaser a duly executed and acknowledged General Warranty Deed conveying good and marketable title in fee simple to all of the Property, free and clear of any and all liens, encumbrances, conditions, easements, assessments, 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) Deliver to Purchaser a Texas Owner's Title Policy at Seller's sole expense, issued by Title Company in Purchaser's favor 4 in the full amount of the purchase price, insuring Purchaser's fee simple title 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;" 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." (c) Deliver to Purchaser possession of the Property. Purchaser's Obligations at Closing 5.03. At the Closing, Purchaser shall pay the cash portion of the purchase price. 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. All special taxes or assessments to the closing date shall be paid by Seller. 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 Seller. 5 (2) Deed, tax certificates, and title curative matters, if any, paid by Seller (3) All other closing costs shall be paid by Purchaser. (4) Attorney's fees paid by each respectively. ARTICLE VI REAL ESTATE COMMISSIONS It is understood and agreed that the only broker involved in the negotiation and consummation of this Contract has been and is O'Barr Rost Inc., and conditioned upon the closing of the transaction contemplated hereby, a commission in the amount of $7,629.00 shall be payable to the aforementioned broker. This commission is to be payable in cash at the closing. If this Contract is terminated for any reason prior to closing, there will be no commission due or payable hereunder. All real estate commissions occasioned by the consummation of this Contract shall be the sole responsibility of Seller, and Seller agrees to indemnify and hold harmless Purchaser from any and all claims for these commissions. Each of the parties represents to the other that it has not incurred and will not incur any liability for brokerage fees or agent's commissions in connection with this Contract other than the liability of Seller as set forth in this paragraph. ARTICLE VII ESCROW DEPOSIT For the purpose of securing the performance of Purchaser under the terms and provisions of this Contract, Purchaser has delivered to the Title Company the sum of One Thousand Dollars ($1,000), the Escrow Deposit, which shall be paid by the Title Company to Seller in the event Purchaser breaches this Contract as provided in Article IX hereof. The Escrow Deposit includes any amounts paid by Purchaser to extend the Feasibility Period as provided above in paragraph 3.05. At the closing, the Escrow Deposit shall be paid over to Seller and applied to the cash portion of the purchase price, provided, however, that in the event the Purchaser shall have given written notice to the Title Company that one or more of the conditions to its obligations set forth in Article III have not been met, or, in the opinion of Purchaser, cannot be satisfied, in the manner and as provided for in Article III, then the Escrow Deposit (less $100.00) shall be forthwith returned by the Title 6 Company to Purchaser. Seller shall have the right to retain the aforesaid $100.00 as independent consideration for entering into this Contract. ARTICLE VIII 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; (2) request that the Escrow Deposit shall be forthwith returned by the Title Company to Purchaser; or (3) bring suit for damages against Seller. ARTICLE IX 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 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. ARTICLE X MISCELLANEOUS Assignment of Contract 10.01. This Contract may be assigned by Purchaser provided that Purchaser's assignee, shall expressly assume all Purchaser's liabilities, obligations, and duties hereunder. On delivery to Seller of an instrument in writing whereby the assignee assumes all of the provisions of this Contract to be performed by Purchaser, then, in that event, Purchaser shall be released and discharged of all further liability hereunder. 7 Survival of Covenants 10.02. Any of the representations, warranties, covenants, and agreements of the parties, as well as any rights and benefits of the parties, pertaining to a period of time following the closing of the transactions contemplated hereby shall survive the closing and shall not be merged therein. Notice 10.03. 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 set forth below. (1) All notices to the Purchaser shall be sent to: City of Round Rock 221 E. Main St. Round Rock, Texas 78664 Attention: Robert L. Bennett, City Manager Facsimile Number: 512 - 218 -7097 with copies being sent to: Stephan L. Sheets City Attorney 309 E. Main St. Round Rock, Texas 78664 Facsimile Number: 512- 255 -8986 (2) All notices sent to Seller shall be sent to: f5 q I C,y�Q,�brc414— CCZAJ K IAA,. (.57 9,l (7l,eua M '{(7 5g1• 5545 with copies being sent to: 8 Texas Law to Apply 10.04. 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 10.05. 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 10.06. 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 10.07. 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 10.08. Time is of the essence in this Contract. Gender 10.09. 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. 9 Memorandum of Contract 10.10. Upon request of either party, both parties shall promptly execute a memorandum of this Contract suitable for filing of record. Compliance 10.11. 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 10.13. This Contract shall be effective as of the date it is approved by the City Council, which date is indicated beneath the Mayor's signature below. SELLER: Gary L /tr Date: 7 lb O PURCHASER: City of Round Rock, Texas 10 221 E. Main St. Round Rock, Texas Date: 7 -0- Co RECEIPT On this .42g' day of July, 2000, Escrow Agent with Longhorn Title Insurance Company acknowledges receipt of this Contract and Earnest Money $1,000.00 in the form of a c eck. Escrow Agent Longhorn Titl9 Company 11 Texas Being 8.77 acres of land out of the David Curry Survey, Abstract No. 130, in Williamson County, Texas, and being a part of a 126 acre tract conveyed by Wm. V. Alsabrook and wife, to O.H. McAdams and wife by deed recorded in Vol. 368, page 278, of the Deed Records, of Williamson County, Texas, and being a portion of a 45 acre tract remaining out of a 50 acre tract conveyed by O.H. McAdams and wife, to the Veterans Land Board of the State of Texas, by deed dated April 12, 1952, and more fully described by metes and bounds as follows: BEGINNING in the North line of a county road, 508.5 feet S 70 deg. 30' W, from the S.E. corner of said 45 acre tract; THENCE N 17 deg. 54' W, 1302 feet to the North line of said 45 acre tract, 508.9 feet westerly from its N.E. corner; THENCE S 74 deg. 18' W, 290.6 feet with the North line of said 45 acre tract to the N.E. corner of a 5 acre tract; THENCE S 17 deg. 44' E, with the East line of said 5 acre tract 1321.5 feet to the North line of said County Road; THENCE N 70 deg. 30' E, 294.1 feet with the said road to the PLACE OF BEGINNING and containing 8.77 acres of land, more or less. SAVE AND EXCEPT THE FOLLOWING TRACT: FIELD NOTES describing a 0.067 acre tract or parcel of land out of the David Curry Survey, Abstract No. 130, situated in Williamson County, Texas, being a portion of that certain 8.77 acre tract of land conveyed to University Savings Association by Substitute Trustee's Deed recorded in Volume 1418, Page 596 of the Deed Records of Williamson County, Texas, and being more particularly described by metes and bounds as follows: BEGINNING at a point being the southwest comer of Lot 1, Block "A ", Sunrise Vista, Section Two, as shown on a Plat of Record in Cabinet C, Slide 393 of the Plat Records of Williamson County, Texas, being in the east line of said 8.77 acre tract, also being in the north right -of -way line of Bowman Drive (formerly Bowman Road), for the northeast corner and POINT OF BEGINNING of the hereinafter described 0.067 acre tract; THENCE along the east line hereof, S 20 deg. 00' 22" E, 10.00 feet to a point being the southeast corner of said 8.77 acre tract, for the southeast corner hereof; THENCE along the south line hereof, S 68 deg. 28' 22" W, 293.13 feet to a point being the southwest corner of said 8.77 acre tract, also being the southeast corner of that certain 1.92 acre tract of land conveyed to Robert E. Johnson, Jr., Tr., by deed recorded in Volume 883, Page 476 of said Deed Records, for the southwest corner hereof; THENCE along the west line hereof, being the division line between said 8.77 acre tract and said 1.92 acre tract, N 19 deg. 50' 22" W, 10.00 feet to a point for the northwest corner hereof; THENCE along the north line hereof, N 68 deg. 28' 22" E, 293.10 feet to the POINT OF BEGINNING of the herein described tract, containing 0.067 acres (or 2930 square feet) of land, more or less. EXHIBIT DATE: July 7, 2000 SUBJECT: City Council Meeting — July 13, 2000 ITEM: 10.E.3. Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Gary L. Acker for the purchase of approximately 8.77 acres of land along Bowman Road for parkland. Staff Resource Person: Sharon Prete, Parks and Recreation Director.