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R-98-07-23-10C3 - 7/23/1998RESOLUTION NO. R- 98- 07- 23 -10C3 WHEREAS, Al Robinson and Evelyn Robinson own 0.22 acres of land on the west side of Chisholm Trail between Brushy Creek and Hwy. 620, and WHEREAS,A1 Robinson and Evelyn Robinson have offered to sell said property to the City of Round Rock, and WHEREAS, the City would like to purchase said property for park and tourism purposes, 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 Al Robinson and Evelyn Robinson, for the purchase of the above described property, a copy of said contract being attached hereto as Exhibit "A ". 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. RESOLVED this 23rd day of July, 1•'8 ATTEST: as \WPOOW \RRSOLWTz\Reonao.WPD /ew LAND, City Secretary CHARLES CULP °E', Mayor City of Round Rock, Texas 07/20/98 10:49 '8'512 255 8980 Sheets & Cross. . +a CITY RR Z001/008 State of Texas County of Williamson REAL ESTATE CONTRACT THIS CONTRACT OF SALE ( "Contract ") is made by and between the AL ROBINSON and EVELYN ROBINSON, 506 Chisholm Trail Road, Round Rock, Williamson County, Texas(referred to in this Contract as "Seller ") and the CITY OF ROUND ROCK, a Texas Home Rule City of 221 E. Main St. Round Rock, Williamson County, Texas ;referred to in this Contract as "Purchaser "), upon the terms and conditions set forth in this Contract. ARTICLE I PURCHASE AND SALE By this Contract, Seller sells and agrees to convey, and Purchaser purchases and agrees to pay for, the tract of land containing approximately 0.22 acres of land situated in Williamson County, Texas, being more particularly described as follows: Being 0.22 acres cut of the J.M. Harrell Survey, Abstract No. 284 Williamson County, Texas and being known as 506 Chisholm Trail F:oad, Round Rock, Texas; 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. sAwraxeVtaTIN NaIIISulcagiMMgwlgwag.rPadn ARTICLE I: PURCHASE PRICE Amount of Purchase Price 2.01. The purchase price for the Property shall be the sum of Eighty -four Thousand, Six hundred sixty -six and 66/100 Dollars ($B4,666.66). Payment of Purchase Price 2.02. The Purchase Price shall be paid in cash at the closing. ARTICLE III PURCHASER'S OBLIGATIONS 1 3UL -20 -1998 10:54 512 255 8986 94; P.01 07/20/98 10:49 22512 255 8986 Sheets & Cross. .44 CITY RR 4002/006 Conaitions to Purchaser's Obligations 3.01. The obligations of Purchaser hereunder to consummate the transaction 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. The parties acknowledge that Heart of Texas Title Company has issued a preliminary title report (the "Title Commitment "), dated September 8, 1997 and having a GF No. 731797 -CH. Items 5 through 9 of Schedule C are not acceptable to Purchaser and must be eliminated or modified to the satisfaction of Purchaser. In the event Seller is unable to do so by the closing date, this agreement shall thereupon be null and void for all purposes and the Escrow Deposit shall be forthwith returned by the title company to Purchaser. 3.03. The closing of this transaction shall be conditioned on and simultaneous with the closing of a contract for the purchase of the following described tracts on terms and conditions that are acceptable to Purchaser in its sole judgment: 1) 0.22 acre tract out of the J.M. Harrell Survey, Abstract 284 owned by Verly Campbell and wife, Claretta Campbell; and 2) 0.22 acre tract out of the J.M. Harrell Survey, Abstract 284 owned by Lenzo Clark and wife, Joyce Clark. 3.04. 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 CLOSING The closing shall be held at the office of Heart of Texas Title Company, 1001 South Mays, Round Rock, Texas, on or before August 31, 1998, 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 4.01. At the closing Seller shall: (a) 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: 2 SUL -20 -1998 10:54 512 255 8986 97W P.02 07/20/98 10:50 $512 255 8886 Sheets & Cross. 4+-. CITY RR 'Z005/006 (1) General real estate taxes for the year of closing and subsequent years not yet due and payable; (ii) Any exceptions approved by Purchaser pursuant to Article III hereof; and (iii) Any exceptions approved by Purchaser in writing. (b) Deliver to Purchaser a Texas Owner's Title Policy at Purchaser's sole expense, issued by Heart of Texas Title Company, in Purchaser's favor in the full amount of the purchase price, insuring Purchaser's fee simple title to the Property subject only to those title exceptions listed above, 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. (c) Deliver to Purchaser possession of the Property; provided however that Seller may remain on the Property as a tenant for a period not to exceed 90 days after Closing upon payment of rent at the rate of $10.00 per day. Purchaser's Obligations 4.02 At the Closing, Purchaser shall pay the cash portion of the purchase price. Prorations 4.03 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. Closing Costs 4.04 All costs and expenses of closing in consummating the sale and purchase of the Property shall be borne and paid as follows: Owner's Title Policy paid by Purchaser; Filing fees for deed paid by Purchaser; Filing fees for release(s) paid by Seller; Title curative matters, if any, paid by Seller; Attorney's fees paid by each respectively. ARTICLE V REAL ESTATE COMMISSIONS 3 3UL -20 -1998 10 :55 512 255 8986 96% P.03 07/20/98 10:50 V512 255 8989 Sheets & Cross. +.. CITY RR 1 004 /008 It is understood and agreed that the only brokers involved in the negotiation and consummation of this Contract has been and is Don Quick of Don Quick & Associates, Inc, and conditioned upon the closing of the transaction contemplated hereby, a commission in the amount of two (2) percent of the total purchase price shall be payable to Don Quick. 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 Purchaser. 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 as set forth in this paragraph. ARTICLE VI ESCROW DEPOSIT For the purpose of securing the performance of Purchaser under the terms and provisions of this Contract, Purchaser has delivered to Heart of Texas Title Company, the sum of Five Hundred Dollars (8500), the Escrow Deposit, which shall be paid by the title company to Seller in the event Purchaser breaches this Contract as provided in Article vIII hereof. 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 shall be forthwith returned by the title company to Purchaser. ARTICLE VII 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: (11 enforce specific performance of this Contract; (2) request that the Escrow Deposit shall be forthwith returned by the title company to Purchaser; cr (3) bring suit for damages against Sealer. ARTICLE VIII 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 (1) bring suit for damages against Purchaser; or (2) 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, 4 JUL -20 -1998 10:55 512 255 8986 95% P.04 07/20/08 10:51 IP512 2SS 8986 Sheets & Cross. 4 .. CITY RR -g1005/006 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 IX MISCELLANEOUS Assignment of Contract 9.01. (a) This Contract may not be assigned without the express written consent of Seller. Survival of Covenants (b) 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 (c) Any notice required or permitted to be delivered hereunder shall be deemed received when sent by United States mail, postage prepaid, certified mail, return receipt requested, addressed to Seller or Purchaser, as the case may be, at the address set forth opposite the signature of the party. Texas Law to Apply (d) 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 (e) 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. JUL -20 -1998 10:56 Legal Construction (f) 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 has never been contained herein. 5 512 255 8986 97: P.05 07/20/08 10:51 0512 255 8086 Time of Essence (h) Time is of the essence in this Contract. Gender Sheets & Cross. 44. CITY RR -Q t008/008 Prior Agreements Superseded (g) 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. (i) 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. JUL -20 -1998 10:56 Memorandum of Contract (j) Upon request of either party, both parties shall promptly execute a memorandum of this Contract suitable for filing of record. Dated this day of July, 1998. SELLER: AL ROBINSON EVELYN ROBINSON 506 Chisholm Trail Road Round Rock, Texas 78664 PURCEASER: CITY OF ROUND ROCK, TEXAS By: Charles Culpepper, Mayor 221 E. Main Street Round Rock, Texas 78664 6 512 255 8986 96x P.06 DATE: July 17, 199/3 SUBJECT: City Council Meeting - July 23,1998 ITEM: 10.C.3. Consider a resolution authorizing the Mayor to execute a Real Estate Contract with Al Robinson and Evelyn Robinson for the purchase of 0.22 acres of land This property is one of four tracts of land on the west side of Chisholm Trail between Brushy Creek and Hwy. 620, which the City is interested in purchasing for park and tourism purposes. The purchase price is $84,666.66 and the source of the funds is the Hotel Occupancy Tax. Staff Resource Person: Sharon Prete, Parks and Recreation Director. The Chamber of Commerce Tourism Committee, in conjunction with the City, has been working on this project for several years. Adding this property to Round Rock Memorial Park will create an opportunity to construct bronze sculptures depicting a Chisholm Trail Cattle Drive. These works of art titled "Crossing the Brushy at the Round Rock ", will be developed in stages as funds become available through Tourism Committee fund raising efforts. September 30, 1998 e98-07-Z 6C3 HEART OF TEXAS TITLE COMPANY CITY OF ROUND ROCK C/0 BROWN McCAROL, SHEETS & CROSSFIELD 309 E. MAIN STREET ROUND ROCK, TEXAS 78664 RE: Heart of Texas Title Company GF #: 836798 Property Address: 506 Chisholm Tr. Rd. Enclosed please find the following: Warranty Deed Owner's Title Policy Deed of Trust Mortgagee's Title Policy Mortgagee's Title Policy Binder Release of Lien Mechanic's Lien Contract Transfer of Lien Notice Endorsement Assignment Financing Statement Other: We appreciate the opportunity to serve you and will be glad to assist you in any way in regard to your future Escrow and Title needs. If you have any questions, please do not hesitate to contact our office at any time. Sincerely, d Becky Hillyer /Chris Grant Policy Department 13581 Pond Springs Rd., Ste 106 Austin, Texas 78729 (512) 335 -3651 Fax: (512) 335 -3768 Enclosures 1001 South Mays Round Rock, Texas 78664 512 -255 -1550 • FAX: 512- 255 -2329 CASH WARRANTY DEED Date: af , fife', 1998 Grantor. Robinson and Evelyn Robinson Grantor's Mailing Address (including county): S'b Gd ,rshaievr Tl40 16 . -rx w-q.0 /( I„/;JJ County Grantee: City of Round Rock Grantee's Mailin Address (including County): eo •wt.) X1. {s`•C ,tld Y:i4 7x Z86(el kt.);I i A rn'Xyr County CONSIDERATION: TEN AND NO /100 DOLLARS and other good and valuable consideration. PROPERTY (including any improvements): All that certain lot, tract or parcel of land lying within and being a part of the J. M. Harrell Survey in Williamson County, Texas and being part of the land conveyed by W. L. Black et al to George Clark and wife, Caroline Clark, by Deed dated March 21, 1921, of record in Volume 201, Page 568, Deed Records, Williamson County, Texas, being the same tract conveyed to Al Robinson and Evelyn Robinson in Deed recorded in Volume 483, Page 695, Deed Records, Williamson County, Texas, and being further described by metes and bounds description in Exhibit "A" attached hereto: RESERVATIONS FROM AND EXCEPTIONS TO CONVEYANCE AND WARRANTY: Easements, rights -of -way, and prescriptive rights, whether of record or not; all presently recorded restrictions, reservations, covenants, conditions, oil, gas or other mineral leases, mineral severances, and other instruments, other than liens and conveyances, that affect the property; rights of adjoining owners in any walls and fences situated on a common boundary; any encroachments or overlapping of improvements; all rights, obligations, and other matters emanating from and existing by reason of the CASH WARRANTY DEED - PAGE 1 DOC# 9854381 DOC , t OFFICIAL RECORDS WILLIAMSON COUP TEXAS creation, establishment, maintenance and operation of the Brushy Creek Water Control and Improvement District No. 1; taxes for the current year, the payment of which Grantee assumes. 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's heirs, executors, administrators and successors are hereby bound 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 context requires, singular nouns and pronouns include the plural. CASH WARRANTY DEED - PAGE 2 STATE OF �� S COUNTY OFlAlf,a « r CASH WARRANTY DEED - PAGE 3 ACKNOWLEDGMENT This instrument was acknowledged before me on this ")1� day of 1998, by Al Robinson. otary Public, tate of T e" _ , ACKNOWLEDGMENT STATE OF IWN COUNTY OF This instrument was acknowledged before me on thiscA day of 1998, by Evelyn Joann Mays Robinson. FELIX HIPPY MY COMASSION EXPIRES March 27, 2001 CASH WARRANTY DEED — PAGE 9 Notary Public, Se of t.-1( fi l 74, All that certain Lot, Tract or Parcel of land lying within and being a part of the J. M. Harrell Survey in Williamson County, Tanen, being part of tho land conveyed by W. L. Black at al to George Clerk and wife. Caroline Clark, by deed dated March 21, 1921, of record in Vol. 201 Page 568 of the Doud Record° of Williamson County, Texas, and more particularly described by metes and bounds as follows[ BEGINNING at a steel pin not in the W. line of said Clark property at the intersection of the E. line of the I. 6r G. N. Railroad Right -of -way and the N. line of F. M. Highway 620; THENCE N. 15 36' W. 198.53 fent to a steel pin not for t he beginning And S. W. earner of the tract herein described. THENCE N. 16 36' W. 76. 53 feet to a steel pin not for the N. W. corner of this tract; - - - - - -' THENCE N. 84 53' E. 123.12 feet to a steel pin eat in the fence line on the W. line of Moffett Street for the N. E. corner of this tract; THENCE. with thn fence and W. line of Moffett Street S. 4 32' E. 75.00 feet to nlral pin net for the S. E. corner of thin tract; THENCE S. 84 53' W. 107.20 feet to the place of the beginning, containing two - tenths (0.20) of an acre of land, more or less. FYED aid wh.e Return To: Heart of Texas Title 13581 Pond Springs Rd, Suite 106 Austin, TX 78729 2 NOTICE TO PURCHASERS OF REAI DOCt 9854382 11ho real property described below, which you are about to purchase Is located In the BRUSHY CREEK WATER CONTROL AND IMPROVEMENT DISTRIC The district has taxing authority separate Iron any other teeing authority, and may, salged to voter approval, issue =unlimited amount ° Mendsadlovy®unlimited rate often imminent afsuchbonds. Asoftldadete. the rate oft® lavledbyOmdearitdoereelpropertylocated farce ditrictie$ oaeach S100ofasaesaedvaluation. Ifthedistriethasmayellevieiltaxevthemm4recemproJectedra teof ce tar, as of this date is - oneaeh 5100 of assessed vd+eation. The total anmuotofbandswhichhas been approved by the voters end which havebe enormey,etth1sdate,bet�edm$ tdthe aggregate initialpriooipaimomtleofatibondsissuedfceooeormaseofthespeoi8ad famlaies often dsdri ea payable in whole or in pact %%nm property taxes ® $ The district 8theadhoritytoadopt and impose a standby fee on pmpetyintimdietrlettmt has water, sewer, sanitary, or drainage faoiities end services available but not connected edwhidi does not have a house, building, or otter improvement located thereon and does not substmliaily utilize the utility capacity available to the property. The dhdrict may mud= the authority without holding an election on the matter. As of Ilia date, the amount of tho standby fee is $ . An =paid standby fee is a personal obligation often 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 atrect of property in thedwMot ThepmposeoAWedk icaiamprovidawater. rawer, dreimge,orfloodeontroH9dituesedse vIceswithinthedletriotthmeghtheisevaoeedbodepay able in whole or in part from propadytasus. The cost ofthese utility fecilhies is not included in the purchase price ay= propoty. and these utility facilities are owned or to be owned by the dlmice. The legal description of the property which you are aoquhfog is as follows 0.22 acres of J.M.._l# fre11`8uUv., Ab. No. 284, WCT August 31, 1998 Dam August 31, 1998 Data Signature of : (, = lyn Ro PURCHASER IS ADVISED THAT THE INFORMATION SHOWN ON THIS FORM IS SUBJECT TO CHANGE BY THE DISTRICT AT ANY TIME HIE DISTRICT ROUTINELY ESTABLISHES TAX RATES DURING THE MONTHS OF SEPTEMBER THROUGH DECEMBER OF EACH YEAR, EFFECTIVE FOR THE YEAR IN WHICH TIIE 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 TIIE INFORMATION SHOWN ON THIS FORM The undersigned purchaser hereby acknowledges receipt of the foregoing notice at or prior to execution of ebind ng contract for the purchase often real property described in such notice or at closing of purchase of the real property. cit R•und ock� Stephen beets, City Attorney Signature of Purchaser (Nom: Comet district name, tax rata, bond amount, standby fee amound, and legal description am to be placed in the appropriate space. Except for notices included as an addendum or paragraph ofa purchase contract the notice shall be executed by the roller and purchaser, as indicated If the district does not propose to provide one or mom of the specified facilities and services, the appropriate purpose may be eliminated If the district has not yet levu:d taxes , a statement of the district's most Return To: Heart of Texas T1tfe 13581 Pond Sp rings Rd, Su ite 108 Austin, TX 78 Doc' 9854382 A Pages: 1 Date : 09 -17 -1998 Time a 02:O909 P.M. Filed & Recorded in Official Records of WILLIAMSON County, TX. NANCY E. RISTER COUNTY CLERK Rec. $ 9.00 1HE STATEOF TAM COUNTY OF WIW AMSOH This is to natty fiat this dammed MB FILM and RECORDED In the Mai Public Ramada of p n a Texas on tha date and time damped tate!Clerk Williamson Ceulity.Taaaa ISSUED BY COMMONWEALTH LAND TITLE INSURANCE COMPANY Commonwealth OWNER'S INFORMATION SHEET TEXAS RESIDENTIAL OWNER POLICY OF TITLE INSURANCE ONE -To -FOUR FAMILY RESIDENCES Your Title Insurance Policy Is a legal contract between you and Commonwealth Land Title Insurance Compa- ny. This policy Is not an opinion or report of your title. It is acontractof indemnity, meaning promise to pay you or to take other action if you have a loss resulting from a covered title risk. It applies only to an improved one-to-four family residen- tial properly or condominium unit. If your land Is not either of these, contact us immediately. Su Polizade Segura de TRulo es un contrato legal entre usted y Commonwealth Land Title Insurance Company. Este poliza no es una opinion o reporte en relacion a su auto de propledad. Es un contrato de indemnfficacion, estoes, lapromesade reembolsarleodetomer cualquler otrotipode action el usted sufre unaperdidacomo resul- tado de cualquler riesgo cublerto por la poliza. Esta forma de poliza ha sido designada pare ser utilize - da exclusivamente en los casos de propledades en las cuales hay construldas vivlendas pare no mas de cuatro familias o en los casos de unldades en condominlos. SI su propiedad no es ninguna de las anteriores, por favor, notlfiquenos Inmediatamente. We insure you against certain risks to your land title. We list these risks on page 2. The following limit your coverage: • Exclusions on page 2. • Exceptions on Schedule B. • Conditions on pages 2 and 6. You should keep the policy even 11 you transfer the title to your land. If you want to make a claim, see Section 3 under Conditions on pages 2 and 6. You do not owe any more premiums for the Policy. This sheet is not your insurance Policy. It is only a brief outline of some of the important Policy features. The Poli- cy explains in detail your rights and obligations and our rights and obligations. The policy — and not this sheet — is the legal document. Residential Owner Policy of Title Insurance T -1 R Coverage Page Forrn 1188 -1 (1 - 1 - 93) YOU SHOULD READ THE POLICY VERY CAREFULLY. THE TOLL-FREE NUMBER OF COMMONWEALTH LAND TITLE INSURANCE COMPANY IS 1-800-925-0965. YOU MAY CALL THIS NUMBER TO DISCUSS THIS POLICY OR TO MAKE A COMPLAINT. YOU MAY WRITE TO COMMONWEALTH LAND TITLE INSURANCE COMPANY AT THE ADDRESS IN SECTION 3 UNDER CONDITIONS ON PAGE 2. Page 1 ORIGINAL Valld only tf Coverage Statement and Schedules A and B are attached. COMMONWEALTH LAND TITLE INSURANCE COMPANY Commonwealth TABLE OF CONTENTS OWNER'S COVERAGE STATEMENT 3 COVERED TITLE RISKS 2 OUR DUTY TO DEFEND AGAINST COURT CASES 3 SCHEDULE 4 POLICY NUMBER, DATE AND AMOUNT 4 1. Nerve of insured 4 2. Interest in Land Covered 4 3. Description of the Land 4 SCHEDULE B - EXCEPTIONS 5 EXCLUSIONS 2 CONDITIONS 2 and 8 1. Definitions 2 2. Continuation of Coverage 2 3. Your Duties If You Make a Claim 2 and 8 4. Chu' Choices When you Notify Us of a Clain e 6. Handing a Claim or Court Case 8 8. Limitation of Our Liability 6 7. Transfer of Your Rights 8 8. Arbitration 6 9. Entire Contract Provision 8 10. Complabe Notices 6 COVERED TITLE RISKS This Policy covers the following title rieke subject to the Exceptions (p. 6 ) and Exclusions (p. 2), if they affect yourOtle to the land on the Policy Date. We do not promise that there we no covered risks. We do insure you If there are covered title isles. 1. Someone else owns an Interest in your title. 2. AdcaaneraIs invalid because ofh nproper signature, ada oaledgemen1, delivery, or recording. 3. Adoaanent is invalid because of forgery, fraud, duress, kxompetency, incapacity or impersonation. 4. Reshicllve covenants apply to your title. 5. There is 8 Olen on your title because of • a mortgage or deed of trust, • a judgment, tax, or special assessment, or • a charge by a homeowner's or condominium association. 8. There are Bens on your title for labor and material which have their Inception before the policy date. However, we will not cover liens for labor and material that you agreed to pay for. 7. Others have rights In yosutitle arising an of leases, connects oroptions. 8. Someone else has an easement on your land. 9. You do not have good and indefeasible fltle. 10. There are other defects in your title. 11. There are other Ilene or encumbrances on your Ws Polcy also corers the following title risks You do not have any Legal right of areas to and from the land. EICCLUSIONS In addition to the Exceptions In Schedule B, we do not Insure you against loss, costa, attorney's fees, and expenses resulting from these Exclusion: 1. We donotcover toss oassedby8amsrdseo fgow nmentalpolcepmvar or the enforcement or violation of any iawor govemment regulation. TMs i- cbrdesbuik8ng and zoning ordinances and laws and regulations concerning: a. Land use b. !mprovemens on the lard 0. Land division d. Envlranm entel protection This exolusbn does not apply to notices ofvblatloraor notbasof enforoe- mentthat appear In the public roaardsat Policy Date. However, there nay be an Exception in Schedule B. 2. We do not cover the right to take the land by condemning h, unless: a. a notice of exercise of the right appears In the public records on the Policy Date, or Page 2 b. the taking happened before the Policy Date and I binding on you if you bought the land without knewhg of the taldng. 3. We do not cover title risks: a. that are created, allowed. or agreed 10 by you, b. that are brown to you, but not to us on the Policy Date unless they ap- peared In the public records, c. that result In no loss to you, or d. that first affect your title after the Policy Date -this does not Ihnh the labor and material Ben coverage in hem 8 of the Covered Title Risks. 4. We do not cover the effect of failure to pay value for your title. 5. We d0 nol cover lack of a right a. to any isnd outside the area specifically described and referred to In Item 3 of Schedule A, b. In Sbeets, alleys, or waterways that touch your land. This exclusion does not limit the access coverage In the Covered Title Risks. 8. We do not cover any claim based upon allegations that your purchase of title (or acquisition of title by gift or othemdse): a. was a fraudulent conveyance, fraudulent transfer, voidable distribu- tion, or voidable dividend; b. should be subordinated or recharactertmd as a result of equitable subordination; c. was a preferential transfer unless (1) the Company or Its teeming agent failed to timely file for record the deed to you after delivery or (2) the recordation of the deed to you Is net legal record notice. (We do paver the bvotypesof cluhredescribed N c. (1) and a (2)above.) 7. We do not cover the refusal of any person to buy, lease or lend money on your land because of unmarketebl11y of the MM. B. We do not cover claims concerning the physical condition of your land or of the access to your land. CONDmoNS 1. DEFINITIONS a. Actual Loss. This lathe difference between the value of your land without the covered title risk and the value of your land with the covered Me risk These values are the respective values atthetime you must furnish proof of your loss. b. Document. A deed or other conveyance of title to you or a prior owner, c. Easement A portion of your land someone else has the right to use for a special purpose. d. Government Regulation. Any federal, state. or local law, constitutional provision. regulation, ordinance, or guideline. e. Land. The land or condominium unit described in Schedule A and any Im- provements on the land that are real property. f. Knowledge or brown. Actual knowledge, not constructive knowledge or notice that may be imputed to an Insured by the public records. g. Mortgage. A type ofllenon the land such asa deed al truster other security Instrument. h. Public Records. Those records required by Texas law and maintained by public officials In the county wherethe properly Is boated that give legal notice of matters affecting your title. I. Title. The ownership interest In the land, as shown In Schedule A. j. We, us or crr. The title insurance company. This Is Cmmronwealth Land Title insurance Company. k. You, your. The Insured. 2. CONTINUATION OF COVERAGE We Insure you as long as yet a. own your Title, b. own a mortgage from anyone who buys yew Title, or 0. are liable for any Title wanantiea you make. We Insure anyone who receives your title because of your death. , We do not insure your transferee or assignee. 3. YOUR DUTIES IF YOU MAKE A CLAIM You must follow this process to make a claim: a. You Yust Give Its Notice Of Your Claim I anyone claims a rights against your Insured title, you must notify us promptly. Send the mete Commonwealth Lard Title Insurance Company, 12201 Merit Drive, Suite 480, Dallas, TX 76251 or call 1- CD- 92.0886 and ask for a claims attorney. If you initially notify us hyphens, we recommend that you also notify us in rafting. Please include the Policy manbershusm In Schedule A, end the county where the land la „, 01o ■11 ,, U „ 1.1 ,,, 1111 „ 111 „ ■101 , 111.1110 1,11,1„ 1■11. ,„,„, 1r,, 1w„, 1o„„,,,,, 111„.,,,,,, 111„ 1.11„,„ .1. L11.,,,,,,, ,1111,1,,,,1.1,1,,,10 „1,,,111.,1 , EXAS Po icY OF11TrrL 1,1„�,�� „�,� „�� „�o „��,�. INSURANCE ONE - To - FouR FAMILY RESIDENCES POLICY NUMBER 185 - 18915'4 ISSUED BY COMMONWEALTH LAND Tun INSURANCE COMPANY Commonwealth OWNER'S COVERAGE STATEMENT This Policy insures your Die tothe !Enid described In Schedule A —if that land isaone- to-lbur family residential properly or condominium unit Your Insurance, as described in this Coverage Statement, Is effective on the Policy Date shown In Schedule A. This document Is title insurance. It Is not an opinion or report of your title. It is a contract of indemnity, meaning a promise to pay you or take other action If you have a loss resulting from a covered title risk. Your insurance under this contract is limited by the following: • Exclusions on page 2. • Exceptions In Schedule B. page 5. • Conditions on pages 2 and 6. We Insure you against actual loss resulting from: • Any title risks covered by this Policy — up to the Policy Amount, and • Any costs, attorneys' fees and expenses we have to pay under this Policy. We must approve the attorney be- fore the attorney begins to work. You have the right to disapprove our choice of attorney for reasonable cause. OUR DUTY TO DEFEND AGAINST COURT CASES We will defend yourtftle in the part or parts of a court case involving aTitle Risk covered by this Policy. We will pay the costs, attomeys' fees, and expenses that we incur In that defense. We will not pay for the parts of a case not involv- ing a covered title risk. You may disapprove our choice of attorney for reasonable cause. We can end this duty to defend your title by exercising any of our options listed in Item 4 of the Conditions, see page 6. This Policy is not complete without Cover Page and Schedules A and B. Residential Owner Policy of Title Insurance T•1R Face Page(1 -1 -93) Form 1186-2 COMMONWEALTH LAND TITLE INSURANCE COMPANY Page 3 ORIGINAL By Chairman and Chief Executive Officer Attest: G. � sec retary GF NO.: 836798 -CH POLICY #: 185- 189754 SIMULTANEOUSLY WITH POLICY #: PROPERTY CODE: T1 COUNTY: Williamson AMOUNT OF INSURANCE: $84,666.66 DATE OF POLICY: September 17, 1998 at 2:09pm RATE RULE(S) /CODE(S): PREMIUM(S): R3 $ 872:00 NAME OF INSURED: City of Round Rock HEART OF TEXAS TITLE COMPANY 1001 SOUTH MAYS ROUND ROCK, TX 78664 512- 255 -1550 TOTAL: $ 872.00 COMMONWEALTH LAND TITLE INSURANCE COMPANY Policy Number: 185- 189754 Policy Date: September 17, 1998 at 2:09pm Policy Amount: $84,666.66 Premium: $872.00 1. Name of Insured: City of Round Rock 2. We insure your interest in the Land covered by this Policy is: Fee Simple 3. Legal Description of Land: Texas Residential Owner Policy T -IR (Rev. 1 -1 -93) Schedule A TEXAS RESIDENTIAL OWNER POLICY OF TITLE INSURANCE ONE -TO -FOUR FAMILY RESIDENCES SCHEDULE A Page 4 ORIGINAL File Number: 836798 -CH ALL THAT CERTAIN LOT, TRACT OR PARCEL OF LAND LYING WITHIN AND BEING A PART OF THE J. M. HARRELL SURVEY IN WILLIAMSON COUNTY, TEXAS AND BEING PART OF THE LAND CONVEYED BY W. L. BLACK ET AL TO GEORGE CLARK AND WIFE, CAROLINE CLARK, BY DEED DATED MARCH 21, 1921, OF RECORDED IN VOLUME 201, PAGE 568, DEED RECORDS, WILLIAMSON COUNTY, TEXAS, BEING THE SAME TRACT CONVEYED TO AL ROBINSON AND EVELYN ROBINSON IN DEED RECORDED IN VOLUME 483, PAGE 695, DEED RECORDS, WILLIAMSON COUNTY, TEXAS, AND BEING FURTHER DESCRIBED BY METES AND BOUNDS DESCRIPTION IN EXHIBIT "A" ATTACHED HERETO: HEART OF TEXAS TITLE COMPANY COMMONWEALTH LAND TITLE INSURANCE COMPANY All that certain Lot, Tract or Parcel of land lying within and being a part of the J. M. Harrell Survey in Williamson County, Tenn., being part of the land conveyed by W. L. Black et el to George Clark and wife, Carotin Cloak, by deed dated March 21, 1921. of record In Vol. 201 Page 368 of the Deed Records of Williamson County, Texas, and more particularly described by metes and bounds ea follows ;. BEGINNING at a steel pin eat In the W. line of said Clark properly at the Intersection of the E. line of the 1. la G. N. Railroad Right-of-way and the N. line of F. M, Highway 620; - THENCE N. 15 36 W. 198.53 feet to a steel pin not for the beginning and S. W. corner of the tract herein described. THENCE 14. 16 38' W. 76.53 feet to a steel pin set for the N. W. corner of this tract; - _ - - -- THENCE N. 54 53 E. 123.12 feet to a steel pin set in the fence line on the W. line of Moffett Street for the N. E. corner of this tract; THENCE. with the fence and W. of Moffett Street S. 4 32' E. 75.00 feet to n steel pin eel for the S. E. corner of thin tract; THF.NCE S. 84 53' W. 107.20 fact to lite place of the beginning, containing two - tenths (0. 20) of an acre of land, more or lase. THE STATE OFTEX S COUNTY OF WILLIAMSON This Is to certify that this document nas FILED sad RECORDED In the Official Pubtc Records of PAl[Iamson County, Texas on the date and time stamped thereon. W C ollldy,Teas 1 ti 855 381 Date : 09 -17 -1998 Time : 02:09:39 P.M. Filed & Recorded in Official Records of WILLIAMSON County, TX. NANCY E. RISTER COUNTY CLERK Rec. $ 17.00 SCHEDULE B EXLLPfIONS FROM COVERAGE Policy Number: 185- 189754 File Number: 836798 -CH We do not cover loss, coats, attorney's fees and expenses resulting from: 1. Exception Number 1 is hereby deleted. 2. Any discrepancies, conflicts, or shortages in area or boundary lines, or any encroachments or protrusions, or any overlapping of improvements. 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 1998, and subsequent years, and subsequent taxes and assessments by any taxing authority for prior years due to change in land usage or ownership. 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): a. Rights of parties in possession. b. The rights of BRUSHY CREEK WATER CONTROL AND IMPROVEMENT DISTRICT NO. 1 to levy taxes and issue bonds as set out in information filed by said district in the records of the County Clerk of Williamson County, Texas. (This is for informational purposes only) c. Any visible and apparent easements and all underground easements, the existence of which may arise by unrecorded grant or by use. d. Section 14 of the Conditions and Stipulations of this policy is hereby deleted. HEART F TEXAS TITLE COMPANY By: 4 hOZd S . v 1 Countersignature Texas Residential Owner Policy T -IR (Rev. I -1 -93) Schedule B Page 5 ORIGINAL Heart of Texas Title 13581 Pond Springs Rd, Suite 106 Austin, TX 78729 Our obligation to you Is reduced or ended It ( you fall to give prompt notice, and ( 2 ) your failure affects owablftyro dispose oforto defend youagabssIthe Claim. Ourobtigatlon Is reduced oniytotheextonttlretyowfegwe affects our abil- ity to dispose of or to defend you against the claim. b. You Must Give Us Proof of Your Losa B We Request R You must send to us, If werequast, your staled proof of losswlthin 91 days of owrequ eston a standard idol eupplied by us. WWdn 15daysatterwe receive your maim of dam, we must request a signed proof of loss. If rot, we waive our right to require a proof of loss.. Tits waiver will not waive our other rights under the polity. The statement must lime thefollowing irdemadet to the beat of your Imowledge (1) the Covered Title Risks which resulted In your loss, (2) the dollar amount of your Ices, and (3) the method you used to compute the amount of your loss. c. You Must Provide Papers We RequesL We may require you to show us your records, chec letters, contracts, and other papers that relate toyour dais of kiss. We may make copies of these papers. If you tell us this Information Is confidential, we will not disclose it to any- one else unlesawe reasonably belevethedlsclmwe is necessary toadndnlster the claim. d. You Must Answer questions Under Oath. We may require you to answer questions under oath. e. Effect of Failure to Cooperate. Our obligation to you reduces or ends 11 you fall or refire to: (1) (a) provide a statement of loss, (b) answer our questions under oath, or (e) show us the papers we request, and (2) your failure or refusal affects our ability to dispose of or to defend you against the claim. 4. OUR CHOICES WHEN YOU NOTIFY US OF A CLAIM a. After we receive your claim notice or In any other way learn of a matter for which we are liable. we can do one or more of the following: (1) Pay the claim against your title. (2) Negotiate a settlement. (3) Prosecute or defend a court case related to the claim. (4) Pay you the amount required by thls Policy. (5) Take other action under Section 4b. (6) Cancel this policy by paying the Policy Amount. then In force, and only those costs. attorneys' fees and expenses incurred up to that time that we are obligated to pay. We can choose which 01 these 10 do. b. If you report to that a covered tits risk exists, we will promptly Inves- tigate to determine if that covered title risk is vend and not barred by laworsta- tute. A covered title risk Is etude risk that the Policy does not exclude or except. If we conclude that your claim, or any part of your claim, Is covered by the polity, we will take one or more of the following actions to the extent that it Is covered: (1) Institute allnecessary legal pra eedntgstoclearthatdltotheproperty: (2) Indemnify you pursuant to the terms of the policy: (3) Issue a new title policy without making exception to the covered title risk. If another insurer Issues the new tits pokey to your purchaser, lender or other transferee without making exception to the covered title risk, we 811 In- demnify the other Insurer. (4) Secure a release of the covered title risk. c. If we deny yourdalm, or any part of your claim, not more than 15 days al- ter we deny the claim, we will: (1) notify you In writing. and (2) give you the reasons for denial of your claim In writing. 5. HANDLING A CLAIM OR COURT CASE You mustcooperate with us In handling any claim or court case and give us all relevant information. We must repay you only for those settlement costs, attorneys' fees and ex- penses that we approve In advance. When we defend or sue to dear your title, we have a right to choose the at- torney. You have the fight to disapprove our choice of anomey or reasonable Texas Residential Owner Policy of Title Insurance T -1 R Form B 1186.1 Page 6 muse. We can appeal any decision to the highest court. We do not have to pay your claim until your case is finally derided. We do not agree that the matter Is a covered title risk by defending. 8. LIMITATIONS OF OUR LIABILITY Our liability is limited by the Mowing: a. wewt0 pay up to your actual lessor the Policy Amount In form when the claim is made — whichever Is leas. b. If we remove the cshn against your title with reasonable diligence or take other action underths pokey after receiving notice ottt, we w0 have no further Ilabltlty for lt. c. All payments we nnake uruderthis policy —owed tomcats, ads' fees and expenses — will be subtracted from your Pol Amount. d. lithe Covered Title Risk lean easement, we may pay an Insured mortgage holder instead of paying you when a written agreement between you and the mortgage holder allows. If the dale involves another Covered Title Risk, we may pay the mortgage holder instead of paying you The amowrt paid to the mortgage holder is considered a paymentto you under your policy and will be subtracted from your policy crowd. e. If you do anything toadedanyrightofrecoveryordefeseyoumayhave. we Can subtract From our liability the amount by which you reduced the value of that right or defense. But we must add back to our Debility any amount by which our expenaea are reduced as a result of your action. 7. TRANSFER OF YOUR RIGHTS When we settle a claim. we have all the rights you had against any person or property related to the claim. You must treineforthese tights to us when we ask, and you must not do anything to affect these rights. You must let us use your name In enforcing these rights. We will not be liable to you it we do not pursue these rights or if we do not recover any amount thet might be recoverable. With the money we recover from enforcing these rights, we will pay whatever pert of your loss we have not paid. We have a right to keep what is left. 8. ARBITRATION. If it 19 permitted under Texas or federal law, you and we mayagree to arbitra- tion when you tile a claim. The arbitration may decide any matter In dispute between you and us. Arbitration sone means of alternative dispute resolution. It may lessen the time and cost of claims settlement. You may wish to consider another form of mediation or use the court system. If you choose arbitration, you may give up some discovery rights and your right to sue. The arbitration award may. a. Include attorneys' fees it allowed by slate law, and/or b. be entered as a judgment In the proper court. The arbitration shall be under the Title insurance Arbitration Rules of the American Arbitration Association. You may choose current Rules or Rules In existence on Policy Date. The law used in the arbitration is the law of the place where the property is located. You can get a copy of the Rules from us. 9. ENTIRE CONTRACT PROVISION This policy and any end. law - ma we attach are the entire contract between you and us. Any claim you make against its must be under this Policy and is subject to its terms. 10. COMPLAINT NOTICE Should any dispute arise about your premium or about a claim that you have filed, contact the agent or write to us. OUR TOLL -FREE NUMBER IS 1-800- 925-0965. If we do not resolve the problem, you also may write the Texas Department of Insur- ance, P.O. Box 149091, Austin, TX 78714-9091, Fax No. (512) 475 -1771. THE TOLL -FREE NUMBER FOR THE TEXAS DEPARTMENT OF INSURANCE IS 1- 800 - 252-3439. This notice of complaint procedure is for Information only. It does not become a part or condition of this policy. TEXAS RESIDENTIAL OWNER POLICY OF TITLE INSURANCE ONE - To - Foui FAMILY RESIDENCES Heart of Texas Title 13581 Pond Springs Rd, Suite 106 Austin, TX 78729 1Si11® BY COM a0NweuXH LAND Tms Gammas COMPANY Commonwealth 7911e 1nvcance Since 1876 Hoes: OM= 1700 Market Street! PhQadelphia, PA 19103 -3990 State of Texas County of Williamson REAL ESTATE CONTRACT THIS CONTRACT OF SALE ( "Contract ") is made by and between the AL ROBINSON and EVELYN ROBINSON, 506 Chisholm Trail Road, Round Rock, Williamson County, Texas(referred to in this Contract as "Seller ") and the CITY OF ROUND ROCK, a Texas Home Rule City of 221 E. Main St. Round Rock, Williamson County, Texas (referred to in this Contract as "Purchaser "), upon the terms and conditions set forth in this Contract. ARTICLE I PURCHASE AND SALE By this Contract, Seller sells and agrees to convey, and Purchaser purchases and agrees to pay for, the tract of land containing approximately 0.22 acres of land situated in Williamson County, Texas, being more particularly described as follows: Being 0.22 acres out of the J.M. Harrell Survey, Abstract No. 284 Williamson County, Texas and being known as 506 Chisholm Trail Road, Round Rock, Texas; 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. C:\ aroccs , C:Yy\CAM^oELL \:dcpACnFOs:Ns.. wPC /sio ARTICLE II PURCHASE PRICE Amount of Purchase Price 2.01. The purchase price for the Property shall be the sum cf Eighty -four Thousand, Six hundred sixty -six and 66/100 Dollars ($84,666.66). Payment of Purchase Price 2.02. The Purchase Price shall be paid in cash at the closing. 1 ARTICLE III PURCHASER'S OBLIGATIONS Conditions to Purchaser's Obligations 3.01. The obligations of Purchaser hereunder to consummate the transaction 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. The parties acknowledge that Heart of Texas Title Company has issued a preliminary title report (the "Title Commitment "), dated September 8, 1997 and having a GP No. 731797 -CH. Items 5 through 9 of Schedule C are not acceptable to Purchaser and must be eliminated or modified to the satisfaction of Purchaser. In the event Seller is unable to do so by the closing date, this agreement shall thereupon be null and void for all purposes and the Escrow Deposit shall be forthwith returned by the title company to Purchaser. 3.03. The closing of this transaction shall be conditioned on and simultaneous with the closing of a contract for the purchase of the following described tracts on terms and conditions that are acceptable to Purchaser in its sole judgment: 1) 0.22 acre tract out of the J.M. Harrell Survey, Abstract 284 owned by Verly Campbell and wife, Claretta Campbell; and 2) 0.22 acre tract out of the J.M. Harrell Survey, Abstract 284 owned by Lenzo Clark and wife, Joyce Clark. 3.04. 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 CLOSING The closing shall be held at the office of Heart of Texas Title Company, 1001 South Mays, Round Rock, Texas, on or before August 31, 1998, 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 4.01. At the closing Seller shall: (a) Deliver to Purchaser a duly executed and acknowledged General Warranty Deed conveying good and marketable title in fee simple to all 2 of the Property, free and clear of any and all liens, encumbrances, conditions, easements, assessments, and restrictions, except for the following: (i) General real estate taxes for the year of closing and subsequent years not yet due and payable; (ii) Any exceptions approved by Purchaser pursuant to Article III hereof; and (iii) Any exceptions approved by Purchaser in writing. (b) Deliver to Purchaser a Texas Owner's Title Policy at Purchaser's sole expense, issued by Heart of Texas Title Company, in Purchaser's favor in the full amount of the purchase price, insuring Purchaser's fee simple title to the Property subject only to those title exceptions listed above, 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. (c) Deliver to Purchaser possession of the Property; provided however that Seller may remain on the Property as a tenant for a period not to exceed 90 days after Closing upon payment of rent at the rate of $10.00 per day. Purchaser's Obligations 4.02 At the Closing, Purchaser shall pay the cash portion of the purchase price. Prorations 4.03 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. Closing Costs 4.04 All costs and expenses of closing in consummating the sale and purchase of the Property shall be borne and paid as follows: Owner's Title Policy paid by Purchaser; Filing fees for deed paid by Purchaser; Filing fees for release(s) paid by Seller; 3 Title curative matters, if any, paid by Seller; Attorney's fees paid by each respectively. ARTICLE V REAL ESTATE COMMISSIONS It is understood and agreed that the only brokers involved in the negotiation and consummation of this Contract has been and is Don Quick of Don Quick & Associates, Inc, and conditioned upon the closing of the transaction contemplated hereby, a commission in the amount of two (2) percent of the total purchase price shall be payable to Don Quick. 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 Purchaser. 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 as set forth in this paragraph. ARTICLE VI ESCROW DEPOSIT For the purpose of securing the performance of Purchaser under the terms and provisions of this Contract, Purchaser has delivered to Heart of Texas Title Company, the sum of Five Hundred Dollars ($500), the Escrow Deposit, which shall be paid by the title company to Seller in the event Purchaser breaches this Contract as provided in Article VIII hereof. 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 shall be forthwith returned by the title company to Purchaser. ARTICLE VII 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. 4 ARTICLE VIII 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 (1) bring suit for damages against Purchaser; or (2) 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 IX MISCELLANEOUS Assignment of Contract 9.01. (a) This Contract may not be assigned without the express written consent of Seller. Survival of Covenants (b) 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 (c) Any notice required or permitted to be delivered hereunder shall be deemed received when sent by United States mail, postage prepaid, certified mail, return receipt requested, addressed to Seller or Purchaser, as the case may be, at the address set forth opposite the signature of the party. Texas Law to Apply (d) 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 (e) 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. 5 Legal Construction (f) 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 (g) 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 (h) Time is of the essence in this Contract. Gender (i) Words of any gender used in this Contract shall be held and construed to include any other gender, and words in the singular number shall be held to include the plural, and vice versa, unless the context requires otherwise. Memorandum of Contract (j) Upon request of either party, both parties shall promptly execute a memorandum of this Contract suitable for filing of record. Dated this day of July, 1998. SELLER: AL ROBINSON EVELYN ROBINSON 506 Chisholm Trail Road Round Rock, Texas 78664 6 PIIRCHASEH: CITY By: 221 E. Main Street Round Rock, Texas 78664 7 �D 0 , TEXAS SUS- W Charles er, Mayor P Y