Loading...
R-97-08-14-13P - 8/14/1997SPECIAL WARRANTY DEED Date: September 1997 Grantor: CITY OF ROUND ROCK, TEXAS Grantor's Mailing Address (including county): CITY OF ROUND ROCK, TEXAS 221 East Main Round Rock, Texas 78664 Williamson County Grantee: WELDON M. ZIMMERMAN Grantee's Mailing Address (including county): Weldon M. Zimmerman 651 County Road 445 Taylor, Texas 76574 Williamson County Consideration: TEN AND NO /100 DOLLARS and other good and valuable consideration. Property (including any improvements): - �7 -occi- Iy -i3P' Being 580.5 square feet of Blair Street Adjacent to Lot 20, Block 2, Original Plat, Town of Round Rock, Williamson County, Texas, according to the map or plat thereof recorded in Volume 25, Page 315, Official Records of Williamson County, Texas, said parcel being more particularly described by metes and bounds in Exhibit "A ", attached hereto and incorporated herein. Reservations From and Exceptions to Conveyance and Warranty: None Grantor, for the consideration, receipt of which is acknowledged, and subject to the reservations from and exceptions to conveyance and warranty, grants, sells and conveys to Grantee the property, together with all and singular the rights and appurtenances thereto in any wise belonging, to have and hold it to Grantee, Grantee's heirs, executor, administrators, successors or assigns forever. Grantor binds Grantor and Grantor's heirs, I .\TC%i\CITY\Palmx fvusnMFTNK.1 /tah executors, administrators and successors to warrant and forever defend all and singular the property to Grantee and Grantee's heirs, executors, administrators, successors and assigns against every person whomsoever lawfully claiming or to claim the same or any part thereof, except as to the reservations from and exceptions to conveyance and warranty, when the claim is by, through or under Grantor, but not otherwise. When the context requires, singular nouns and pronouns include the plural. CITY OF ROUND ROCK, TEXAS BY: ACKNOWLEDGMENT AFTER RECORDING RETURN TO: BROWN McCARROLL SHEETS & CROSSFIELD, L.L.P. 309 East Main Round Rock, Texas 78664 CHARLES CULPEPPER, Mayor STATE OF TEXAS § COUNTY OF WILLIAMSON § This instrument was acknowledged before me on raze 1997, by CHARLES CULPEPPER, Mayor, of the CITY OF ROUND ROCK, TEXAS, a Texas home rule municipal corporation, on behalf of said corporation. Notary Public, State of Texas EXHIBIT "A" - Page 1 of 2 FIELD NOTES BEING 580.5 SQUARE FEET OF BLAIR STREET ADJACENT TO LOT 20, BLOCK 2, ORIGINAL PLAT, TOWN OF ROUND ROCK, WILLIAMSON COUNTY, TEXAS, ACCORDING TO THE MAP OR PLAT THEREOF RECORDED IN VOLUME 25, PAGE 315, DEED RECORDS OF WILLIAMSON COUNTY, AND BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS, TO WIT: BEGINNING at an iron rod set at the northeast corner of Lot 20, Block 2, Original Plat, Town of Round Rock, said iron rod being at the intersection of the west line of Blair Street, (originally platted "McDonald Street "), and the south line of Bagdad Avenue, said iron rod being the northwest corner hereof; THENCE N 72° 35' E a distance of 4.30 feet to a point in Blair Street; THENCE S 17° 25' E a distance of 135.00 feet, parallel with and 4.30 feet east of the west line of said Blair Street, to an iron rod set at the southeast corner hereof; THENCE S 72° 35' W a distance of 4.30 feet to an iron rod set at the southwest corner hereof, said iron rod being at the intersection of the west line of Blair Street and the centerline of a vacated 20' wide alley in Block 2, (said alley having been vacated and abandoned by the Round Rock City Council September 27, 1984, Ordinance No. 2134), from which an iron rod set at the southeast corner of Lot 20, Block 2, bears N 17° 25' W a distance of 10.00 feet; THENCE N 17° 25' W a distance of 135.00 feet with the west line of Blair Street to the Place of Beginning, containing 580.5 square feet of land. wp-6 & ASSOCIATES, SURVEYORS Stan Coalter, RPLS, LSLS 7 -24 -97 File No. 97095 tE �K_ re e- 0 % g S TAN C OALT E R 9 14 C9 ti 4 SUB' SKETCH TO ACCOMPANY FIELD NOTES BEING 580.5 S.F. OF BLAIR STREET ADJACENT TO LOT 20, BLOCK 2 ORIGINAL PLAT -TOWN OF ROUND ROCK WILLIAMSON COUNTY, TEXAS O - ' CO • - IRON ROD FOUND BLOCK 2 O - IRON ROD SET II F" W a t S1A al 1 F E < ti 1 �f l J 7 - 24 -97 27' 7' EXHIBIT "A" - Page 2 of 2 BAGDAD AVENUE N 72 °35'E 2 4.30' W 18 19 20 cn: h CC L H _ � Q J m ` CO a�^ N°f a ro C W — W f N CC Q 0 < 0 G CC ta. >O 572 °35'W '••4.30' Purchaser: Weldon M. Zimmerman UTILITY DISTRICT NOTICE Seller: City of Round Rock, Texas The real property, described below, which you are about to purchase is located in the Brushy Creek Water Control and Improvement District No. One. 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 of tax 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 $NA on each $100 of assessed valuation. If the district has not yet levied taxes, the most recent projected rate of debt service tax, as of this date is $ -0- on each $100 of assessed valuation. The total amount of bonds approved by the voters and which have been or may, at this date, be issued is $ - - 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 $ -0 -. The district has the authority to adopt and impose a standby fee on property in the district that has water, sanitary sewer, or drainage facilities and 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 to the property. The district may exercise the authority without holding an election on the matter. As of this date, the most recent amount of the standby fee is $NA. 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 certificate 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 utility 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: Being 580.5 Square Feet of Blair Street Adjacent to Lot 20, Block 2, Original Plat, Town of Round Rock, Williamson County, texas, According to the Map or plat thereof recorded in Volume 25, Page 315, Official Records of Williamson County, being more I: \TEC \CIT AMORT OC \FEVPSTA\VfILt10[. 1 /kah particularly described by metes and bounds on Exhibit "A ", attached hereto and incorporated herein. CHRISTINE R. MARTINEZ MY COMMISSION EXPIRES AuOust 5.2001 CITY OF ROUND ROCK, TEXAS BY: ACKNOWLEDGMENT 2. Charles Culp a per, Mayor STATE OF TEXAS § § COUNTY OF WILLIAMSON § n This instrument was acknowledged before me on s a sr-Panda 1997, by Charles Culpepper, Mayor, of the CITY OF ROUND ROCK, TEXAS, a Texas home rule municipal corporation, on behalf of said corporation. OAAL:at L O ) lati Notary Public, State of Texas 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 information shown on this form. The undersigned purchaser hereby acknowledges receipt of the foregoing notice at or prior to execution of a binding contract for the purchase of the real property described in such notice or at closing of purchase of the real property. WELDON M. ZIMMERMAN STATE OF TEXAS COUNTY OF WILLIAMSON This instrument was acknowledged before me on 1997, by Weldon M. Zimmerman. PREPARED IN THE OFFICE OF: ACKNOWLEDGMENT § BROWN McCARROLL SHEETS & CROSSFIELD,L.L.P. 309 E. Main Round Rock, Texas 78664 Notary Public, State of Texas 3. EXHIBIT "A" - Page 1 of 2 FIELD NOTES BEING 580.5 SQUARE FEET OF BLAIR STREET ADJACENT TO LOT 20, BLOCK 2, ORIGINAL PLAT, TOWN OF ROUND ROCK, WILLIAMSON COUNTY, TEXAS, ACCORDING TO THE MAP OR PLAT THEREOF RECORDED IN VOLUME 25, PAGE 315, DEED RECORDS OF WILLIAMSON COUNTY, AND BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS, TO WIT: BEGINNING at an iron rod set at the northeast corner of Lot 20, Block 2, Original Plat, Town of Round Rock, said iron rod being at the intersection of the west line of Blair Street, (originally platted "McDonald Street "), and the south line of Bagdad Avenue, said iron rod being the northwest corner hereof; THENCE N 72° 35' E a distance of 4.30 feet to a point in Blair Street; THENCE S 17° 25' E a distance of 135.00 feet, parallel with and 4.30 feet east of the west line of said Blair Street, to an iron rod set at the southeast corner hereof; THENCE S 72° 35' W a distance of 4.30 feet to an iron rod set at the southwest corner hereof, said iron rod being at the intersection of the west line of Blair Street and the centerline of a vacated 20' wide alley in Block 2, (said alley having been vacated and abandoned by the Round Rock City Council September 27, 1984, Ordinance No. 2134), from which an iron rod set at the southeast corner of Lot 20, Block 2, bears N 17 25' W a distance of 10.00 .feet; THENCE N 17° 25' W a distance of 135.00 feet with the west line of Blair Street to the Place of Beginning, containing 580.5 square feet of land. 62- k‘? I Stan Coalter, RPLS, ISIS 7 -24 -97 File No. 97095 wp-6 & ASSOCIATES, SURVEYORS STAN COALTER 0 1481 9 ;9.Pps * SKETCH TO ACCOMPANY FIELD NOTES BEING 580.5 S.F. OF BLAIR STREET ADJACENT TO LOT 20, BLOCK 2 ORIGINAL PLAT -TOWN OF ROUND ROCK WILLIAMSON COUNTY, TEXAS • - IRON ROD FOUND O - IRON ROD SET 7 -24 -97 BAGDAD AVENUE N 72°35'E 2 EXHIBIT "A" - Page 2 of 2 4.30' S72 ° 35'I' '••4.30' WHEREAS, it was recently discovered that certain improvements on the property located at 201 W. Bagdad, encroach upon the City right -of -way on Blair Street; and WHEREAS, the owner desires to resolve this problem by acquiring a small tract totaling 580.5 sq. ft. and lying within the City right -of -way on Blair Street, said tract being described in Exhibit "A ", attached hereto and incorporated herein; and WHEREAS, Section 272.001 of the Local Government Code, V.A.T.S., allows a city to convey small strips of land without following the normal notice and bidding procedures; and WHEREAS, Appraiser Steven L. Adams, has estimated the fair market value of the property described in Exhibit "A" to be $1,742.00; 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 all documents necessary for the conveyance by special warranty deed of the real property described in Exhibit "A" herein in consideration of $1,742.00. RESOLVED this 14th day of August ,1997. ATTEST: S.\ WPDOCS \RSSOLUTI \RS70814P.WPO /kah RESOLUTION NO. R- 97- 08- 14 -13P HARLES Ci7ILPijPPER, Mayor City of Round Rock, Texas Steven L. Adams, MAI, SRA Real Estate Appraisals Mr. Charlie Crossfield City Attorney City of Round Rock 221 East Main Street Round Rock, Texas 78664 Re: Appraisal of Strip of Land in South Blair Street, Round Rock, Texas Identified by Attached Survey and Field Notes Dear Mr. Crossfield: This letter is being written at the request of Mrs. Margaret Fink, who has indicated an interest to purchase this property. The subject property is in the Blair Street right -of -way and lies adjacent to 201 West Bagdad, an existing commercial property (old house zoned C -1). The house was built in 1940 and the far eastern portion of the house lies within the right -of -way. Mrs. Fink would like to purchase a strip 4.3 feet wide x 135 feet in length along the eastern edge of 201 West Bagdad that contains the house encroachment. This strip is not part of the existing Lots 19 and 20, but is adjacent to and in addition to the site area contained within Lots 19 and 20, Based on the attached data and analyses, it is my opinion that the market value of the strip as used in assemblage with 201 West Bagdad property, as of August 4, 1997, is $1,742, which equates to $3.00 per square foot of land value. This letter should not be construed as an appraisal report in itself, but should only be used in conjunction with the narrative appraisal report I prepared on 201 West Bagdad dated August 4, 1997. Crossfield sla c: \winword\applet.doc \1 August 6, 1997 Steven L. Adams, MAI, SRA 15805 Booth Circle Volente, Texas 78641 Telephone (512) 250 -9370 Fax (512) 257-1730 Valuation of Strip of Land in South Blair Street, Round Rock, Texas Identified by Attached Survey and Field Notes Overview The subject property is in the Blair Street right -of -way and lies adjacent to 201 West Bagdad, an existing commercial property (old house zoned C -1). The house was built in 1940 and the far eastern portion of the house lies within the right -of -way. The buyer for the house, Mrs. Margaret Fink, would like to purchase a strip 4.3 feet wide x 135 feet in length along the eastern edge of 201 West Bagdad that contains the house encroachment This strip is not part of the existing Lots 19 and 20, but is adjacent to and in addition to the site area contained within Lots 19 and 20. According to the furnished survey, the east portion of the house and garage extend into the Blair Street right -of -way between 1.5 and 3.0 feet. The buyer has met with City of Round Rock officials who indicated that they will sell the buyer a strip off the right -of -way to contain this encroachment. For valuation purposes, the appraiser has used a strip 4.3 feet wide x 135 feet in length, adjacent to the east side of the site as contained in the existing Blair Street right -of -way and as described on the attached field notes. The appraiser assumes that the City of Round Rock will sell this strip of land to the buyer or owner of the subject property at the appraised value as shown in this report which represents the fee simple value of the land in this strip, but does not reflect the market value contribution of the house or fencing, which are included with the values of the house on Lots 19 and 20. Site Value The appraiser has appraised numerous improved and unimproved properties in Round Rock and is familiar with commercial land values. The appraiser has attached a table of comparable Round Rock sales with appropriate site sale extractions. The most recent downtown land sale confirmed by the appraiser is 213 North Mays, shown as Comparable Sale No. 12 in the Improved Sales Table which sold for $4.75 per square foot. This property was improved with an old house (estimated 800 SF in size), which was demolished subsequent to sale. A different house was moved onto the site and is being remodeled as of the date of this appraisal. This is a corner site zoned C -1 but with a much higher visibility and traffic count than the subject location. After downward adjustment for superior location, this sale indicates a value for the subject site of $3.20 per square foot. page 2 Valuation of Strip of Land on South Blair Street, Round Rock, Texas Identified by Attached Survey and Field Notes The property behind the subject at 208 South Blair sold last year for $60,000, shown as Comparable Sale No. 7 in the Improved Sales Table. This house was in very poor condition and was substantially remodeled by the buyer. The site is much larger than the subject site and is zoned C -1 with an Historic overlay. The extracted site value for this sale equates to $1.25 per square foot. After adjustment for size, the indicated value for the subject by this sale lies in the $2.50 - $3.00 per square foot range. Based on these adjusted sales, the additional site value extractions, and additional site sales on file, it is the opinion of the appraiser that the single point market value of the subject strip is $3.00 per square foot x 580.5 feet = $1,741.50; rounded to $1,742. South Blair Street Facing North South Blair Street Facing South View of Strip (House Encroachment in Right -of -Way) South Blair Street Facing South 97161.XLS Page 1 Round Rock Improved Sales Table Sale Sales Sales Imps Price No Location Date Price SF per SF Comments 1 106 N. Mays Feb -94 566,000 1,032 $62.98 Remodeled since sale 2 106 Fannin Aug -94 8100,000 1,700 $58.82 Remodeled since sale 3 406 W. Liberty Nov -94 590,000 1,314 568.49 Remodeled since sale 4 306 W. Main Sep -95 $86,000 1,664 561.39 Remodeled since sale 6 404 W. Liberty Jan -96 565,000 1,162 556.42 Some remodeling since sale 6 206 N. Mays Jan -96 590,000 2,620 $34.36 Extensive remodeling since sale 7 208 S. Blair Jun -96 560,000 1,603 537.43 Extensive remodeling since sale 8 310 W. Main Jul -98 $76,500 1,169 566.44 Remodeled since sale 9 102 S. Harris Jul -96 5130,000 2,142 $60.69 Remodeled since sale 10 306 W. Liberty Aug -96 585,000 1,248 568.11 Remodeled since sale 11 1007 S. Mays Dec -96 5135,600 1,426 598.02 Good condition at sale 12 213 N. Mays Apr -97 565,000 800 $81.26 Land value only 13 304 E. Main Aug -97 5160,000 2,189 568.62 Current listing, fair /avg condition NOTE: All comparables are closed sales except No. 13, which is a current For Sale listing. Round Rock Improved Sales Ana ysis Table Sale Site Site Site Site Bldg Bldg Bldg No Location Imps Size Value /SF Value Size Value Value /SF 1 106 N. Mays 53,250 8,886 53.00 526,658 1,032 536,092 534.00 2 106 Fannin 55,000 33,106 51.00 833,105 1,700 561,895 836.41 3 406 W. Liberty 84,500 11,746 53.00 835,235 1,314 860,266 838.26 4 306 W. Main 84,260 6,626 52.00 511,250 1,664 569,600 $42.02 6 404 W. Liberty 53,260 5,000 84.00 $20,000 1,162 841,750 536.24 6 206 N. Mays 82,260 13,500 $4.00 $54.000 2,620 533,760 812.88 7 208 S. Blair 82,600 23,610 $1.25 529,613 1.603 827,988 817.46 8 310 W. Main 53,825 7,500 53.00 $22,600 1,169 860,175 $42.92 9 102 S. Harris 83,250 20,250 83.00 560,750 2,142 866,000 $30.81 10 306 W. Liberty 84,260 8,429 54.00 833,716 1,248 847,034 537.69 11 1007 S. Mays 56,776 13,017 84.00 $52,068 1,426 876,657 853.76 12 213 N. Mays 8965 13,481 84.75 864,035 800 80 80.00 13 304 E. Main 820,000 9,375 83.00 828,126 2,189 5101,876 546.54 97161.XLS Page 1 SKETCH TO ACCOMPANY FIELD NOTES BEING 580.5 S.F. OF BLAIR STREET ADJACENT TO LOT 20, BLOCK 2 ORIGINAL PLAT -TOWN OF ROUND ROCK WILLIAMSON COUNTY, TEXAS • -IRON ROD FOUND O - IRON ROD SET 7 24 -97 18 27 BAGDAD AVENUE N 72 27' BLOCK 19 27' 2 272 35 W' BEGINNING POINT FOR FIELD NOTES SUBJECT TRACT Stan Coalter, RPLS, LSLS 7 -24 -97 File No. 97095 wp-6 & ASSOCIATES, SURVEYORS FIELD NOTES BEING 580.5 SQUARE FEET OF BLAIR STREET ADJACENT TO LOT 20, BLOCK 2, ORIGINAL PLAT, TOWN OF ROUND ROCK, WILLIAMSON COUNTY, TEXAS, ACCORDING TO THE MAP OR PLAT THEREOF RECORDED IN VOLUME 25, PAGE 315, DEED RECORDS OF WILLIAMSON COUNTY, AND BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS, TO WIT: BEGINNING at an iron rod set at the northeast corner of Lot 20, Block 2, Original Plat, Town of Round Rock, said iron rod being at the intersection of the west line of Blair Street, (originally platted "McDonald Street "), and the south line of Bagdad Avenue, said iron rod being the northwest corner hereof; THENCE N 72° 35' E a distance of 4.30 feet to a point in Blair Street; THENCE S 17° 25' E a distance of 135.00 feet, parallel with and 4.30 feet east of the west line of said Blair Street, to an iron rod set at the southeast corner hereof; THENCE S 72° 35' U a distance of 4.30 feet to an iron rod set at the southwest corner hereof, said iron rod being at the intersection of the west line of Blair Street and the centerline of a vacated 20' wide alley in Block 2, (said alley having been vacated and abandoned by the Round Rock City Council September 27, 1984, Ordinance No. 2134), from which an iron rod set at the southeast corner of Lot 20, Block 2, bears N 17° 25' W a distance of 10.00 feet; THENCE N 17° 25' W a distance of 135.00 feet with the west line of Blair Street to the Place of Beginning, containing 580.5 square feet of land. tL uF fed �.�P.•'(STF STAN COALTER • A 1481 : � `9 � S SS CERTIFICATION OF THE APPRAISER I, Steven L. Adams, do hereby certify that the statements of fact contained in this report are true and correct to the best of my knowledge and belief the reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, unbiased professional analyses, opinions, and conclusions and that no material information has been knowingly withheld I have no present or prospective interest in the property that is the subject of this report, and I have no personal interest or bias with respect to the parties involved my compensation is not contingent upon the reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value estimate, the attainment of a stipulated result, or the occurrence of a subsequent event my analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice adopted by the Appraisal Standards Board of The Appraisal Foundation I have made a personal inspection of the property that is the subject of this report no one provided significant professional assistance to the person signing this report this report is made in conformity with, and subject to, the requirements of the Code of Ethics and Standards of Professional Conduct of the Appraisal Institute this report was not based on a requested minimum valuation, a specific valuation, or the approval of a loan the use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives as of the date of this report, Steven L. Adams, MAI SRA, has comp eted the requirements of the continuing education program of the Appraisal I� to and the, ' xa,ppj ser Lipensing and Certification Board. Steven L Adams, MAI, SRA General Real Estate Appraiser Certification No. TX- 1321757 -G Expiration Date: December 31, 1997 ASSUMPTIONS AND LIMITING CONDITIONS This appraisal report and the Certification of the Appraiser which appears in this appraisal report are subject to the following conditions, and to such other specific and limiting conditions as set forth in this report. By acceptance of this report, the user of this report agrees to the following assumptions and conditions: . 1. The appraiser assumes no responsibility for matters of a legal nature affecting the property appraised or the title thereto, nor does the appraiser render any opinion as to the title, which is assumed to be marketable. The property is appraised as though under responsible ownership. A title opinion by a qualified title company is always recommended. 2. The appraiser has included a copy of a plat map and/or survey which shows the site boundaries for the subject property. This plat map /survey has been included to assist the reader. The appraiser does not hold himself out to be a surveyor and the appraiser assumes no responsibility for the accuracy of the plat map /survey, which is assumed to be correct. A survey by a registered professional surveyor is always recommended. 3. The appraiser is not required to give testimony or appear in court because of this appraisal unless prior arrangements have been made. 4. The appraiser assumes that there are no hidden or unapparent conditions of the soil or subsoil which would render the property more or less valuable. Soil and subsoil tests are always recommended. The appraiser assumes no responsibility for such conditions or for engineering costs which might be required to discover such factors. 5. Wherever possible, the appraiser personally confirmed information, estimates, and opinions used in this report. However, the appraiser can not and does not guarantee the accuracy of all furnished information used in this report. Information, estimates, and opinions furnished to the appraiser were obtained from sources considered reliable and are believed to be true and correct. 6. Disclosure by the appraiser of the contents of this appraisal report is subject to review in accordance with the by -laws and regulations of The Appraisal Institute. 7. Neither all nor part of the contents of this report, or copy, thereof (conclusions as to property value, the identity of the appraiser, reference to any professional appraisal organizations, or the firm with which he is associated) shall be used for any purpose by anyone but the client or its assigns or private mortgage insurers, consultants, professional appraisal organizations, state or federally chartered banks, or by any department, agency, or instrumentality of the United States or Assumptions and Limiting Conditions continued Assumption No. 7 continued or of any state or of the District of Columbia, without the previous written consent of the appraiser, except upon demand by the mortgagor; nor shall it be conveyed to the public through advertising, public relations, news, sales or other media, without the express written consent and approval of the appraiser. 8. Possession of this report does not carry with it the right of publication nor may it be used for any purpose by anyone except the client without the previous written consent and approval of the appraiser. No fractional part of this report is to be used in conjunction with any other report or appraisal report. Such use renders it invalid. . 9. It is assumed that the subject property complies in full with all applicable local, state, and federal regulations and laws unless non - compliance is stated, defined, and considered in this report. It is recommended that the client obtain the services of third party professionals, such as building inspectors, surveyors, environmental inspectors, and engineers, to determine if the property complies with applicable laws and regulations. 10. It is assumed that there is no encroachment, trespass, or adverse easements unless noted within the report. 11. With respect to improved properties, the appraiser has inspected the subject improvements, a description of which is contained in this report. The appraiser assumes that there are no hidden or unapparent conditions in the improvements which would render the property more or less valuable, including but not limited to, the electrical system, mechanical systems, plumbing, structural systems, foundation, and utilities systems. The appraiser further assumes no current or past insect infestation or damage has occurred to the improvements. An inspection by a licensed Texas professional inspector is always recommended. 12. The appraiser's inspection of the property did not include an inspection to detect the existence or use of urea - formaldehyde foam, asbestos, radon, toxic wastes, or other components or products banned by local, state, and/or federal agencies and/or private agencies. The appraiser strongly recommends that the client/user of this report retain an environmental inspector to inspect the property and surrounding properties and to provide an independent report of findings. A Phase I ESA (Environmental Site Assessment) is always recommended. Assumptions and Limiting Conditions continued Assumption No 12 continued The existence of urea - formaldehyde foam, toxic wastes, or other environmental hazards may have a detrimental effect on the value of the property appraised. For valuation purposes, the appraiser must assume that neither the subject building (if improved) nor site contain any of these products. If it is later determined that either the site, building (if improved), or both the site and building contain any of these products, the appraiser reserves the right to alter the value conclusion shown in this report. 13. The appraiser assumes that there are no deed restrictions placed on the property which would prohibit the full highest and best use of the property under the existing zoning classification. 14. The appraiser does not hold himself out as an expert in title analysis and has not performed a title search on the appraised property. For valuation purposes, the appraiser assumes that all subsurface and mineral interests convey. This is an assumption. The client/user of this report should obtain a title search on the property. If it is determined that only a fractional subsurface interest can convey at sale, then the appraiser reserves the right to alter the value conclusion shown. It is the responsibility of the client to inform the appraiser of this partial ownership. 15. Unless otherwise stated in this report, the appraiser assumes the subject property is owned in fee simple estate. 16. Unless otherwise stated in this report, the appraiser assumes that there are no proposed or existing governmental regulations in effect which render the property more or less valuable, which include, but are not limited to city ordinances, moratoriums, and special assessments. 17. The appraiser is not a building inspector and does not guarantee that the site and/or subject improvements comply with applicable municipal, state, and/or federal building codes or health, safety, or security codes or regulations. An inspection by a qualified real estate inspector is always recommended. 18. Utilities shown to be in place are based on information furnished to the appraiser. The appraiser assumes this information to be correct. If the site is improved with a water well, septic system, and/or above - ground or below - ground fuel tanks, the appraiser assumes that these systems complies with applicable health code requirements, unless otherwise stated in this report. inspections by qualified personnel of these systems are always recommended. Assumptions and Limiting Conditions continued Assumption No. 18 continued Unless otherwise stated, the value shown in this report assumes adequate utility service is available to the property. However, the appraiser is not an engineer and cannot and does not guarantee that there is adequate utility service to the property being appraised. The appraiser always recommends that the user of this report obtain written verification of utility availability from the utility companies. If the property is being developed and requires new or upgraded utilities, a qualified engineer should be hired to determine the availability and cost of providing adequate utility service to the property. 19. If the project is proposed, the appraiser assumes that the improvements have been properly designed by qualified architects and engineers and that the plans and specifications meet or exceed applicable building codes and industry standards for health, safety, and proper building construction design and that all necessary site and building approvals have been obtained, including utility hook -ups. If the project is being appraised per plans and specifications, the appraiser assumes the improvements will be constructed in a professional workmanlike manner to meet or exceed industry standards for the type of project being appraised. 20. If the project is completed, the appraiser assumes that the improvements were properly designed by qualified architects and engineers and that the plans and specifications met or exceeded applicable building codes and industry standards for health, safety, and proper building construction design and that all necessary site and building approvals were obtained, including utility hook -ups. The appraiser assumes the improvements were constructed in a professional workmanlike manner that met or exceeded industry standards for the type of project being appraised. 21. The analyses and forecasts contained in this report are the appraiser's best estimate of the market participant's financial actions and forecasts. The appraiser cannot and does not guarantee future economic trends will occur as projected by the market participants. 22. On May 4, 1990, the U.S. Fish & Wildlife Service declared the golden - cheeked warbler an endangered species. The warbler habitat covers approximately 67,000 acres in Travis County and is concentrated in the west and northwest portions of the county. In addition to the golden - cheeked warbler, the black- capped vireo and a number of insects and invertebrates have also been declared endangered species. If the property being appraised is a vacant tract, the appraiser recommends an independent study by a qualified professional to determine if any endangered species are located on the site. If endangered species are located on the site, delay in development of the site could occur, which may adversely affect the value. Assumptions and Limiting Conditions continued 23. On January 26, 1992, the Americans with Disabilities Act required that real estate that serves the public be accessible to people with disabilities. This is a national law with an extensive strict code of specifications. If the property is improved, it may be subject to this Act. The appraiser is not qualified to determine if this Act applies to the subject real estate or if the subject conforms to this Act. The appraiser strongly recommends that the user of this report retain a qualified professional inspector to determine if the subject real estate conforms to this Act. If alterations to the real estate are required so that the improvements conform to the Act, the appraiser reserves the right to change the value shown to reflect the costs necessary to alter the real estate to comply with this Act. 24 If the property is improved, a Floor Plan has been included in this report. If applicable, the location of interior walls, Bath fixtures, Kitchen appliances, and exterior porches, patios, decks, and other site improvements are approximated. This Floor Plan sketch has been included to assist the reader in visualizing the building layout. The appraiser is not an architect and this Floor Plan should not be relied on for remodeling or other reasons, but should only be used in conjunction with this report. If the client or user of this report desires a detailed Floor Plan, the appraiser recommends the client or user consult with a member of the American Institute of Architects (AIA). 25. The value conclusion shown is specifically based on these Assumptions and Limiting Conditions included and made a part of this report. By acceptance of this report, the client acknowledges receipt of and agreement to these Assumptions and Limiting Conditions. * 26. This property has no special, natural, cultural, recreational, or scientific value, unless otherwise stated in this report. 27. The above stated Assumptions and Limiting Conditions are generally accepted standards for modern appraisal practice. In addition to these general assumptions, there may be specific assumptions contained within the body of this report. These specific assumptions are considered to be a part of these Assumptions and Limiting Conditions. By acceptance of this report, the client acknowledges receipt of and agreement to both these general and specific Assumptions and Limiting Conditions. Assumptions and Limiting Conditions continued 28. The Environmental Protection Agency (EP) and the Department of Housing and Urban Development (HUD) have published a rule, `Lead: Requirements for Disclosure of Known Lead - Based Paint and/or Lead -Based Paint Hazards in Housing." Published on March 6, 1996, this rule requires persons selling or leasing most residential housing built before 1978 to provide purchasers and renters with a federally approved lead hazard information pamphlet and to disclose known lead -based paint and/or Lead -based paint hazards. In 1978, the federal Consumer Product Safety Commission banned the use of lead in residential house paint. For owners of more than four residential dwellings, the requirements became applicable on September 6, 1996, and for owners of one to four residential dwellings, the requirements were effective December 6, 1996. These regulations are based on Federal Law P.L. 102 -550, known as the Residential Lead -Based Paint Hazard Reduction Act of 1992. Title X of this act mandates a comprehensive effort to find and reduce lead -based paint hazards in residential housing to prevent childhood lead poisoning. The appraiser is not qualified to determine if the property contains lead -based paint. If the subject property is residential in nature and was built before 1978, then the appraiser recommends that the property be inspected for lead -based paint by a qualified third party environmental inspector. For valuation purposes, the appraiser assumes the property does not contain lead -based paint. If it is determined that the property contains lead -based paint, the appraiser reserves the right to adjust the value conclusion contained in this report to reflect the costs necessary to abate and/or remove the lead paint from the property. Professional Experience September 1979 - March 1984 March 1984 - October 1993 October 1993 - February 1995 February 1995 to present OUALIFICATIONS OF STEVEN L. ADAMS. MAI, SRA Steven L. Adams, MAI, SRA Steven L Adams Real Estate Appraisals 15805 Booth Circle Volente, Texas 78641 Telephone (512) 250 -9370 Fax (512) 257 -1730 Independent fee appraiser with T.E. Wiley Company. Active in real estate appraisal, property management, investments, and brokerage. Owner and President of S.L. Adams Company, Inc., a real estate appraisal firm Senior Appraiser S.L. Adams Company, Inc. Owner and President of Steven L. Adams Real Estate Appraisals Professional Associations and Honors State of Texas Certified General Real Estate Appraiser Number TX- 1321757 -G Real Estate Broker's License, State of Texas No. 254277 1979 - present Member Appraisal Institute (MAI) No. 7627 1987 - present Austin Chapter Appraisal Institute Member 1980 - present Senior Residential Appraiser (SRA) 1983 - present Austin Board of Realtors Member 1984 - 1993, 1996 - 1997 Professional Associations and Honors continued page 2 Texas Association of Realtors Member 1984 - 1993, 1996 - 1997 National Association of Realtors Member 1984 - 1993, 1996 - 1997 University of Texas Beta Gamma Sigma Business Scholastic Society University of Texas Phi Beta Sigma Scholastic and Honor Society University of Texas Phi Eta Sigma Scholastic and Honor Society Eagle Scout Awarded March 1975 Assistant Scoutmaster Boy Scout Troop 46 1975 - 1984 Scoutmaster Boy Scout Troop 46 1984 - 1989 Advisor Boy Scout Explorer Post 1989 - 1993 Graduate Wood Badge Management Course December 1978 National Eagle Scout As Life Member Boy Scouts Order of the Arrow Honor Camping Society Member Staff Instructor Scout Leader Basic Training October/November 1985 Team Leader Marketing Consultant Group, Community Advisory Service, University of Texas September 1978 - May 1979 Education Committee Member Society of Real Estate Appraisers Austin Chapter 80 1983 - 1986 Chairman Society of Real Estate Appraisers Course 101 January/February 1985 Co- Chairman Public Relations Committee Society of Real Estate Appraisers Chapter 80 1985 - 1986 Qualifications of Steven L. Adams, MAI, SRA continued page 3 Educational Background Graduate Round Rock High School, Round Rock, Texas May 1975 BBA Finance Summa Cum Laude University of Texas at Austin May 1979 Passed Society of Real Estate Appraisers Course 101, Principles of Residential Property Valuation Passed Society of Real Estate Appraisers Course 102, Applied Residential Property Valuation Passed Society of Real Estate Appraisers Course 201, Principles of Income Property Appraising Passed Society of Real Estate Appraisers Course 202, Applied Income Property Appraising Passed American Institute of Real Estate Appraisers Course 1A1, Real Estate Appraisal Principles Passed American Institute of Real Estate Appraisers Course 1A2, Basic Valuation Procedures Passed American Institute Technique, Part 1 Passed American Institute Technique, Part 2 of Real Estate Appraisers Course 1B1, Capitalization Theory & of Real Estate Appraisers Course 1B2, Capitalization Theory & Passed American Institute of Real Estate Appraisers Course 1BB, Capitalization Theory & Technique, Part B (Part 3) Passed American Institute of Real Estate Appraisers Course 2 -1, Case Studies in Real Estate Valuation Passed American Institute of Real Estate Appraisers Course 2 -2, Valuation Analysis and Report Writing Passed American Institute of Real Estate Appraisers Course 2 -3, Standards of Professional Practice Passed American Institute of Real Estate Appraisers Course 3, Rural Valuation Educational Background continued Passed American Institute of Real Estate Appraisers Income Producing Property Demonstration Report Passed American Institute of Real Estate Appraisers Non - Income Producing Property Demonstration Report Passed American Institute of Real Estate Appraisers Comprehensive Examination Attended American Institute of Real Estate Appraisers Interest Rate Seminar Passed American Institute of Real Estate Appraisers Course 2 -3, Standards of Professional Practice July 1990 Passed Appraisal Institute Course 310 Basic Capitalization August 1993 Passed Appraisal Institute Course 410 Standards of Professional Practice August 1993 Passed Appraisal Institute Course 420 Standards of Professional Practice August 1993 Attended American Management Seminar International Joint Ventures and Strategic Alliances November 1995 Passed Lincoln Graduate Center Standards of Professional Practice Course December 1995 Passed Lincoln Graduate Center Farm and Land Appraisal Course December 1995 Partial List of Clients Attorneys Jim Arnold, Jr., Attorney at Law (Arnold & Fleckman) Chester Beaver, Attorney at Law (Arnold & Fleckman) Larry Cooper, Attorney at Law (Clark, Thomas, Winters, & Newton) Mike Deitch, Attorney at Law (Deitch, Egan, Greenblum, & Hamilton) Sam Graham, Attorney at Law (Barron & Adler) Sal Levatino, Attorney at Law Larry McNeill, Attorney at Law (Clark, Thomas, Winters, & Newton) page 4 Partial List of Clients continued Michael Z. Stern, Attorney at Law (Law Office of Hubert Bell, Jr.) Vicki Wood, Attorney at Law (Clark, Thomas, Winters, & Newton) Charles J. Young, Attorney at Law (Richey & Young) Banks and Savings and Loans Bank One/Capitol City Federal Savings Association (Tami Ponton, Marketing Specialist) Bonnet Resources (Allan Carmichael, Review Appraiser) CaminoReal Bank, N.A. (Wallie E. Fields, Vice President) Certified Savings/RTC (Pat Barrington, Compliance Supervisor) Continental Savings and Loan (Meg Murphy, Commercial Lending) First City, Texas (David Brown, SRPA, Vice President) Franklin Federal Bankcorp (Tim Dalton, Vice President) Golden Triangle Savings and Loan (Sherry A. Thiels, Managing Agent) Guaranty Federal Savings & Loan (Mike Smith, Manager Second Lien Department) Hartland Bank, N.A. (Wayne Sachtleben, Vice President) Hill Country Bank (Denny Buchanan, Senior Vice President) Horizon Bank & Trust (Mark Monroe, Senior Vice President) Liberty National Bank (Jeff Geslin, President) NCNB Texas (Tim Chapin, Banking Officer Special Credits Area) NCNB /Gill Savings (William L. Armstrong, Appraisal Coordinator) Savings of Texas (Joe D. Willoughby, Officer/Dallas) Team Bank - Austin (Jean Bentzen, Special Assets Representative) Texas Commerce Bank (Michael R. Stout, Assistant Vice President) Victoria Savings Association (Lee Rogers, Commercial Lending Department) Windsor Savings Association/RTC (Bob Roberts, Senior Vice President) Mortgage Companies and Institutions Associates National Mortgage City of Jonestown City of Lancaster CompuLoan (Rachelle Bingham, Mortgage Loan Processor) FDIC Federal Deposit Insurance Corporation - Dallas and San Antonio, Texas Offices FNMA Federal National Mortgage Association Southwest Regional Office - Dallas, Texas Foster Mortgage Company GE Capital Small Business Finance (David Busby, Liquidation Specialist) page 5 Partial List of Clients continued GMAC General Motors Acceptance Corporation ICA Mortgage Corporation (Review Appraisal) NCNB Mortgage Norwest Mortgage, Inc. (Claire Craig, Loan Officer) RTC Resolution Trust Corporation SBA Small Business Administration State of Texas Department of Highways and Public Transportation (Texas Department of Transportation) Travis County Transportation and Natural Resources Relocation Companies Alcoa Relocation Associates Relocation Management Company, Inc. ChemExec Relocation Company Coldwell Banker Relocation Corporate Moves ERA Seller Security Program GenRel Relocation Management Marriott Corporation Relocation Prudential Relocation Management State Farm Insurance Company Relocation Division Texas Instruments Relocation Division Traveler's Relocation Company page 6 A. E. Nelson, Jr., Chair Benjamin E. Barren Vidal Gonzalez TEXAS APPRAISER LICENSING AND CERTIFICATION BOARD BE IT KNOWN THAT STEVEN LEE ADAMS HAVING PROVIDED SATISFACTORY EVIDENCE OF THE QUALIFICATIONS REQUIRED BY THE TEXAS APPRAISER LICENSING AND CERTIFICATION ACT, ARTICLE 6573a.2, VERNON'S TEXAS CIVIL STATUTES, IS AUTHORIZED TO USE THE TITLE STATE CERTIFIED GENERAL REAL ESTATE APPRAISER Number: TX- 1321757 -G Date of Issue: January 4, 1996 - Date of Expiration: December 31, 1997 Hayden Woodard, Vice -Chair Leonel Garza, Jr. Debra S. Runyan In Witness Thereof " Renil C. Lmdr, Commissioner on, Jr., Chair Maria F. Teran, Secretary David Gloier • Cecil Wimberly ass DATE:August 7, 1997 SUBJECT: City Council Meeting, August 14, 1997 ITEM: 13P. Consider a resolution authorizing the Mayor to execute all necessary documents with the owner of 201 W. Bagdad for the sale of 580.5 square feet of excess right - of - way on Blair Street. STAFF RESOURCE PERSON: Jim Nuse STAFF RECOMMENDATION: An existing house has encroached into the Blair Street Right -Of -Way. The attached sketch shows this small strip of property. This property will not interfere with our use of Blair St. Therefore, staff recommends the sale of the property.