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R-99-10-14-13F5 - 10/14/1999rc (..,,k) 3 ..c 1 A p‘sso c. ■Pec Z-1 APPRAISAL OF A Small Tract Of Land Located Behind The Lot At 3817 Bent Brook Drive Round Rock, Texas for Mike Rials 2320 West Myrtle Drive Chandler, Arizona 85248 by McCluskey & Associates Inc. 13625 Pond Springs Road, Suite 108 Austin, Texas 78729 (512) 331-4822 as of September 30, 1999 September 30,1999 Mike Rials 2320 West Myrtle Drive Chandler, Arizona 85248 RE: The appraisal of 2,512.97 square feet of land located behind the lot located at 3817 Bent Brook Drive, Round Rock, Williamson County, Texas. Dear Mike: McCluskey & Associates, Inc. 13625 Pond Springs Road, Suite 108 Austin, Texas 78729 (512) 331 -4822 Fax: (512) 331 -6782 At the request of the client, Patrick McCluskey, MAI, has inspected and appraised the subject property which contains 2,512.97 square feet located behind the lot at 3817 Bent Brook Drive, Round Rock, Williamson County, Texas. Predicated on the data and analysis contained within this report, the estimated market value of the fee simple interest of the subject property as of September 30, 1999, is in the amount of: THREE THOUSAND SEVEN HUNDRED FIFTY DOLLARS ($3,750) Please refer to the following report for the appraiser's rationale in arriving at the above opinion. Respectfully submitted, McCluskey & Associates Inc. P,:b! Patrick McCluskey, MAI State Certified General Real Estate Appraiser No. TX- 1320170 -G Real Estate Appraisers and Consultants Appraiser's File #: V -99 -21 Location: Value Conclusion: $1.50 per square foot or $3,750 rounded Summary of Salient Facts and Conclusions The property is located in the City of Round Rock and is part of the Forest Creek Country Club golf course owned by the City of Round Rock. The subject property contains 2,512.97 square feet and has been improved by the owner of the adjacent single family lot located at 3817 Bent Brook Drive and the original developer of the lots. The improvements consist of fencing, landscaping and a portion of a swimming pool. Highest and Best Use: The highest and best use of the property is to be incorporated into the adjacent single family lot. McCLUSKEY & ASSOCIATES INC. Page iii I Table of Contents 1 Page No. Title Page 1 Letter of Transmittal ii Summary of Salient Facts and Conclusions iii Table of Contents iv 1 Preface Client 1 ' Intended Users of the Report 1 Intended Use of the Appraisal 1 I Purpose of the Appraisal 1 Definition of the Value to be Estimated 1 Exposure Period 1 1 Marketing Period 2 Effective Date of the Report 2 Identification of the Subject Property .... 2 I Scope of the Appraisal 2 Property History 2 Appraisal Type .... 2 I Report Type 2 Interest Appraised 2 I Descriptions and Highest and Best Use Analysis Neighborhood Analysis 3 Site Analysis 6 1 Valuation Land Valuation 8 I Certificate and Final Value Estimate 13 Contingent and Limiting Conditions 15 Qualifications of Patrick McCluskey, MAI 16 1 Appendix Photographs, field notes, tax information 1 1 1 1 1 McCLUSKEY & ASSOCIATES INC. Page iv Preface Client: Intended Users of the Report: Mike Rials Intended Use of the Appraisal: The intended use of this report is for the client and the City of Round Rock to use in establishing a purchase price for the property. Purpose of the Appraisal: The intended users of this report are the client and the City of Round Rock. The purpose of this appraisal is to estimate the market value of the fee simple interest in the subject property. Definition of the Value to be Estimated: Market value as used herein is defined as: Preface The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specific date and the passing of title from seller to buyer under conditions whereby: 1. buyer and seller are typically motivated; 2. both parties are well informed or well advised, and acting in what they consider their own best interests; 3. a reasonable time is allowed for exposure in the open market; 4. payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and 5. the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. (Source: Office of the Comptroller of the Currency under 12 CFR, Part 34, Subpart C- Appraisals, 34.42 Definitions [f]. and in the Federal Reserve System, Federal Register, Volume 55, No. 165, Part 34.43 (f).) Exposure Period: The market for the subject property is limited since it only has value to the City of Round Rock and the owner of the adjacent lot located at 3817 Bent Brook Drive. The appraiser believes the subject property would have experienced exposure period of about 30 to 60 days if it were offered to the adjacent owner. McCLUSKEY & ASSOCIATES INC. Page 1 Marketing Period: Effective Date of Report: Scope of the Appraisal: Property History: Appraisal Type: Report Type: Interest Appraised: Preface The appraiser believes that the subject property would experience a marketing period of 30 to 60 days if it were offered to the adjacent owner. There is not any other probable buyer for the subject tract. September 30, 1999. This appraisal was conducted between September 28 and September, 30 1999. The appraisal has a transmittal date of September 30, 1999. In the case of this appraisal assignment, research included investigation of the subject neighborhood and market area, inspection and analysis of the comparable market data, highest and best use analysis and valuation. The appraiser has valued the subject land by comparing it to sales of vacant single family lots located on the Forest Creek subdivision. The sources of data for this report include the developer of single family lots in Forest Creek and developers of homes in the Forest Creek subdivision. The information used in this appraisal is reported later in this report. The subject property is current owned by the City of Round Rock and has not been offered for sale for the past three years. This is a 'limited appraisal" since the improvements were not valued. This appraisal was written in a "summary format ". Fee simple McCLUSKEY 8 ASSOCIATES INC. Page 2 Neighborhood Analysis The Appraisal of Real Estate, Eleventh Edition (1996) defines a neighborhood as "a group of complementary land uses." Neighborhoods are defined by both physical and social boundaries to delineate areas in which social, economic, governmental and environmental influences work in a complementary fashion to affect the use and value of real estate. Neighborhood boundaries may consist of well - defined natural or man -made barriers or they may be defined by a distinct change in land use or in the character of the inhabitants. Neighborhood Overview The subject property is located in the Forest Creek subdivision in the city limits of Round Rock, in Williamson County, Texas. Forest Creek originally contained 582.35 acres and 170 acres was transferred to the City of Round Rock. The 170 acres has been developed with an 18 hole golf course with a clubhouse, driving range and putting green. An additional 14.15 acres was transferred to the City of Round Rock for Forest Creek Drive which serves the subdivision and the golf course. The balance of the land is 398.16 acres. The subdivision is zoned by the City of Round Rock as a planned unit development. Most of the land in the subdivision is planned for residential Tots, but there are several tracts which are planned for development with attached residential units, multi - family units, limited commercial, day care and church. Development to date has been for single - family lots of medium and estate sizes and an enclosed gated -entry garden home section. The Forest Creek Elementary School has also been constructed in the subdivision. The subdivision is accessed from County Road 122. All public utilities are available for development including water, sewer, telephone, gas and cable television. There are no requirements for detention ponds since the golf course was designed to meet these needs. The land and lots can be characterized as being gently rolling with several creeks and some topographic relief. Much of the land has good tree coverage and it is aesthetically pleasing with the golf course meandering through the subdivision. The subdivision to date has been well received by the public and a number of homes have been constructed and are inhabited. McCLUSKEY & ASSOCIATES INC. Page 3 1 1 1 1 .PIMP 4 y 0. I " 1,19 AC r.rP w1•.P r P � D:\WILLIA --9 \3 5943.TIF [FOREST ©HEM ELEMENTARV LOT b wow 461 4 t 1.29 AC a, 17 1591.09' 185.00' t 5g 2 r R065495 15 t 16 a 1.55 AC I 1,62 AC `- I &MC t7 16' Printe pplication CITY OF ROUND ROCK 2709/524 (85.0796 AC) 64.8602 AC 357.62' u Nalona 13 1.59 AC .`' 1.60 AC AC 12 300.04' E No. 'Pi 1 )' SECT Hrl tNt nl,- rywm¢ DDRESS x$1.7 Bc Brunk [Ark. 19 BLOCK PHASE SUBDIVISION /ADDITION FOREST CREEEK - Revised Final Plat BOOK /VOLUME /CABINET PAGE Three Cab. M Slide 32 COUNTY Williamson STATE of TEXAS CITY Round Rock LOT 20 5 /9 ° 46'Z8 w 4,5 vo ( S /9 °433/ "W 65.93') CURVE C -/ N 66 ° 59 'E 41. 45' (N67 ° 0/23"E1 ( C = 4/. 47 ' (R= 50.00'1 • THIS TRACT SUBJECT TO RESTRICTIONS RECORDED IN 1020/769, 1866/1, 2252/310, DOC. N0.9536587, ORWCT, AND CAB. M, SLIDE 32, PRWCT. BUILDING SETBACKS LINES SHALL BE AS CURRENTLY ESTABLISHED BY THE CITY OF ROUND ROCK ZONING ORDINANCE. I'9I J - P)GITY SUP') \/ i1 DATE 9 -22-99 DATE 9 -22 -99 This property rinac nntJ within the 100 year flood plain and has o zone X rating as shown on the flood insurance 6a maps { F I.R.M. Mop. No. Panel Dated This certification is for insurance purposes only and is not o guarantee that }h is property will or will not flood. TITLE CO. Alamo Title a F No 99- 7100377 r� / n, 4 N0s? v° 4c, oQ�3F�cR CDO6n eks, 0 46 • B3 eS 4i l T ) 0 ao J I do hereby certify that this survey was this day made an the ground of the property legally described hereon and that there are no boundary line conflicts ,encroachmenls,overlapping of improvements, or roads In place as shown hereon, and certifies only to the legal description and °semen's s)Igwn n the referenced title commitment. Survey 3817 BENT BROOK DRIVE TO THE LIENHOLDER AND /OR OWNERS OF THE PREMISES SURVEYED AND TO Alamo Title Company, OFFICE (512) 634 -6099 FAX (6121 636.2349 2209 W. Parmwr Lam Aurlin, TX 7972? PLAT RECORDS WM \ SCALE 1"--20' LOT 18 75' PUE (Plat) • EIS O — X— ( ) LEGEND Iron rod found Iron rod set Fence Concrete Power Line Record Calls FIELD WORK DRAFTING FINAL CHECK CORRECTIONS UPDATE 9/17/99 9/22/99 9/22/99 FF /B W 0MB DR 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 School District: Round Rock ISD Site Analysis Site Analysis "A land or site description is a detailed listing of factual data, including a legal description, other title and record data and information on other pertinent physical characteristics... A land or site analysis is a careful study of the factual data in relation to the neighborhood characteristics that create, enhance, or detract from the utility and marketability of the land or site as compared with competing comparable land or sites." (From The Appraisal of Real Estate, Eleventh Edition, published by The Appraisal Institute, 1996). The following information is a summary of relevant data concerning the subject site and was supplied to the appraiser by a real estate agent as well as public sources and a physical inspection of the subject property. Location: The site is located behind a single family lot located at 3817 Bent Brook Drive in the Forest Creek subdivision. Mapsco Grid: 378X Current Owner: The City of Round Rock Legal Description: Out of the John H. Randall Survey, Abstract 531, Williamson County, Texas. Land Size: 2,512.97 square feet. Shape: The subject is generally rectangular in shape being 53.59' to 65.70' wide and 43.07' to 42.52' deep. Frontage: The tract fronts on the north side of Forest Creek Drive. Topography: The tract is generally level and at street grade. Flood plain: According to the Flood Insurance Rate Map, panel number 335, effective September 27, 1991, published by the Federal Emergency Management Agency, there does not appear to be any designated 100 -year flood plain on the subject tract. Utility Status: Water and sewer are available from the City of Round Rock. Electricity, telephone, cable televison and natural gas are available. Public Services: Public services available to the site include fire and police protection. McCLUSKEY & ASSOCIATES INC. Page 6 Property Tax: Surrounding Properties: Environmental Issues: Improvements: Highest and Best Use: Site Analysis Easements, Restrictions, and Setbacks: The survey does not indicate that there are any easements or setbacks on the site. The subject tract is owned by the City of Round Rock and is not currently taxed. The prospective buyer of the subject tract owns the adjacent lot which contains 16,892.635 square feet of land and it has been assessed in 1997, 1998 and 1999 at $45,000. The property to the west is developed with a single family house (buyer of the subject tract) while the land to the east is part of the golf course and the Forest Creek Elementary School is located across Forest Creek Drive. The land to the north is owned by the City of Round Rock, but it has been fenced and landscaped by the adjoining property owner which is the same situation as the subject tract. The appraiser was not provided an environmental study and the condition of the property in this respect is unknown. It is an assumption of this appraisal that there are no environmental issues effecting the subject property that would impact the value conclusion set forth herein. The site has been improved with fencing, landscaping and a swimming pool is partially located on the tract. The adjoining property owner (or their predecessor) who is trying to purchase the subject tract has paid for these improvements and as such, the improvements will not be considered in the valuation of the subject tract. The appraiser believes the highest and best use of the site is as part of the adjacent property owner's lot which is improved with a two story single family residence. As a part of the adjacent lot, the subject would have a value as a portion of a single family lot located on a golf course which is believed to produce a higher value than as a landscaped buffer between the lot and the golf course. The subject has been used as a part of the adjacent lot for some time and has not interfered with the golf course operation. Site Analysis Summary The subject property is comprised of 2,512.97 square feet which is part of the Forest Creek Country Club golf course. The tract has been fenced and improved by the adjacent property owner who thought the subject tract was part of their lot. The subject tract has been improved by the adjacent owner and the purpose of this appraisal is to estimate the market value of the subject tract for a possible sale by the City of Round Rock to the adjacent owner. McCLUSKEY & ASSOCIATES INC. Page 7 Land Valuation Land Valuation The sales comparison approach is a process of comparing actual comparable property sales in order to estimate the value of the subject property. This approach to value is premised upon the "Principle of Substitution." "The principle of substitution states that when several similar or commensurate commodities, goods, or services are available, the one with the lowest price attracts the greatest demand and widest distribution." This principle assumes rational, prudent market behavior with no undue cost because of delay. According to the principle of substitution, a buyer will not pay more for one property than for another that is equally desirable. (From The Appraisal of Real Estate, Eleventh Edition, published by The Appraisal Institute, 1996) The application of the sales comparison approach to the subject's land value is based on a comparative process which examines the variation in prices of the comparable properties by analyzing the differences in the physical, legal, financial and economic characteristics of each transaction. This appraisal technique requires the appraiser to assemble vacant land sales data so that a comparative analysis of relevant, value influencing factors may be undertaken to adjust the data to the subject property based upon the actions and preferences demonstrated by participants in the marketplace. The result of this process will be a value conclusion for the subject property. The basis of comparison will be the sales price per lot and through this comparative process the appraiser will consider the advantages and disadvantages of the comparables as they relate to the subject property. Reconciliation of Value The appraiser contacted the current developer of lots in the Forest Creek Subdivision who is Mr. Rusty Parker with KPKM 11 Venture Ltd. (345- 9686). The appraiser explained the current appraisal assignment and sent a copy of the survey of the subject tract and adjacent lot to Mr. Parker. After reviewing the subject survey, he said that the subject and adjacent lot is generally described as an 80 foot wide lot and the most current lots which are similar in size are in Sections 10 and 11 of Forest Creek. There are 35 closed lots in Section 10 and 37 lots under contract and being constructed in Section 11. All these lots have been closed or are under contract to Brighton Homes and Standard Pacific Homes. The contract price for all the lots was $42,500 plus 8 percent per year interest and the current price is $45,000 to $46,000 each. The contract for all the lots was signed about two years ago which explains the current price being higher than the original contract price. The current price of $45,000 to $46,000 does not distinguish between a golf course lot and an non golf course lot since they were sold in a package or group of lots. McCLUSKEY & ASSOCIATES INC. Page 8 Land Valuation The appraiser believes the subject tract plus the adjacent lot would have an approximate value today of about $45,000 which is also the assessed value of the adjacent lot. The subject has an excellent view of the adjacent pond but a very limited view of the actual golf course. The subject fronts a busy four lane street and lies across the street from an elementary school which would tend to limit the premium enjoyed by the view of the pond. The appraiser believes that the subject overall is an average lot when compared to the lot characteristics in Section 10. The value of $45,000 can be divided by 19,405.605 square feet (subject tract of 2,512.97 sf + adjacent lot 16,892.635 sf = 19,405.605 sf) and this calculates to a value per square foot of $2.32 rounded ($45,000 divided by 19,405.605 = $2.32 per sf rounded). The appraiser believes the $2.32 per square foot figure for the subject tract needs to be discounted by about 35 percent since it is not a legally subdivided tract and there is a 7.5 foot wide and an adjacent 15 foot wide public utility easement between the subject tract and the adjacent lot. This 35 percent discount is necessary because all the comparable lots are legally subdivided and none of the lots in Section 10 (see the following page) have easements which cross the middle of the back yard. It may cost several thousand dollars to have the subject tract replatted as part of the adjacent lot and the public utility easements abandoned or re- routed. When we discount the $2.32 figure by 35 percent, we calculate a final value of $1.508 per square foot which the appraiser has rounded down to $1.50 per square foot. The next step is to multiply the value per square foot of $1.50 times the subject's size in order to estimate it's value. 2,512.97 square feet @ $1.50 per square foot = $3,769.46 SAY $3,750 The following page shows the plat of Forest Creek Section 10 which contains 35 lots and they have all been sold in the past two years to Brighton Homes and Standard Pacific Homes. Section 11 is not yet a recorded plat. McCLUSKEY & ASSOCIATES INC. Page 9 • NM I N NM NM V I I MN MO NM MI N NM I IME M MI FOREST LOOP LAI Mao* � v ° TURN9f RRY DRIVE CRS K *'n Comparable Market Data THIS £a PLA LINE L1 L2 L3 L4 L5 L6 POINI Ur 78.00' 78.00' N 0'00'00 "W 498.27' HILTON HEAD DRIVE N900'00'007 o 5 1 r :g 71.27' 84.00' 84.00' 84.00' 84.00' 84.00' o °o I ° ° o ° $ 0 1 00 2 $ 0 3 ° N ¢ O N �$ o 5 h 6 O 2 o z 1 z z 127.00' 84.00' 1 84.00 s 7. 84.00' a 84.00' I 84.00' N90'00'00 "W 561.41' KPKM VENTURES 11, LTD. DOC# 9714652 DIRECTION N1535'4rW N 15'35'43"W N3748'33"W N57112rE N3748'33"W N571127"E Lit &11vlwly( DISTANCE 48.54' 48.54' 24.05' 50.00' 50.48' 50.00' DOC# 9714652 576.22' ;HORD 1 BEARING 1 DELTA 303.25' N05' 11 '50"E 3649'41" 98.44' N0719'54 "W 11'46'14" 104.93' NO4'49'43"E 1732'59" 104.58' N1721'267 1730'28" 31.77' N50'33'067 78'53'47" 34.91' N45'43'23"W 88'33'13 109.66' N78'16'58"E 23'26'03" 42.45' N85'29'307 N85'29'307 09 67.76' N73'46 29"E 14'25'03" 43.16' N86'15'037 0729'54" 32.77' N56'32'49 "W 81'54'12" 32.86' N25729'077 8709'40" 65.83' N08'43'15"W 13'44'56" 7780' N08'43'15'W 13'44'56" 7.08' N0735'02"W 01'28'29" 58.80' NO9'2729 "W 1716'26" 18.35' N1Y58'39 "W 03'14'08" 59.55' N0706'11 "W 10'30'47" 35.92' N44'04'377 91'50'47' 33.40' N48'05 28'W 83'49'05" 149.68' N1929'44"W 2637'38" 146.81' N1719'40 "W 30'57'46"_ 49.37' N28'27'11 "W 08'42'44" 101.20' N 15'08 22'W 1754'53" 24.55' N04'24'17"W 0506'59" 104.13' N1752'35"W 21'49'37 19.29' N30'47'58"W 04'01'10" 35.36' N12'11 '27'E 90'00'00" 33.24' N6.720'437 N6.720'437 12 57.00' N65'10'57'7 15'59'01" 35.36' N7748'33"W 90'00'00' 47.08' N66'34'50N66'34'507 13 10.00' N58'35 20"E 02'47'45" 340.17' NO5'23'48'E 76'24'43" 402.02' N0523'48"E 7624'43" 85.92' N23'49'18"W 1758'29" 104.76' NO3'51 ' 14 "W 21'57'40" 104.76' N 18'06 27'E 21'57'40" 69.45' N3620'437 14'30'53" 57.75' N38'30'21 "E 10'11'37" 66.55' N2731'577 11'45'11" 66.55' N15'46'477 11'45'11" 66.55' N04'01 '36"E 11'45'11" 66.55' N0743'35 "W 11'45'11" 6.55' N1928'46 "W 11'45'11" .25 29't' "W 111.1 07011E" MN or 95.01' 8 O1 N " 25'BL J 73.15' G� / eo / (1 '0 / ph s 2F LA. / o0 O. yr ' / � %5 �s \ 1 N N7T38 26" E 00 0) 13 3.40' C7 1- cn� 1 � 2 N88'09'13"E o 125.76' I'd 3 0 125.80' rn N88'09'13"E o I 4 c c-) 8 302' 1 "E rn 1 27.88' N \ \ 3p .9 v \ 61,15 54, -a, \ 6 0�' N� 5. 24 5 9 5 P � 1 C3 .. C3� ti � T 25'g1 1 rn 2 `a - , " "a` \ s N 75,25 121.69 9 456" E \111 29.42' N I,ca / V N $p pp / 1 V I • N88'09'00"E Ogg 197.19' 11 N 5. 5,9 12 216.41 9A OSB. I s e. 13 / r PUE -SEE DETAIL A N9000'00"E ' 100.01' 78.00' 78.00' 1 3 O 3 3 'L., 1 gN 2 o N 3 m o b `�' b I L _ _.z.._ .2 -_-. _ 6 ' 62.46' 78.00' 4 W $ $ 78.00' 78.00' g 5 78.00' oN 6• 3 0 8 2 � 5 i C C7 tI90 a 77.38' 66.92' o, 25'31 © I N90'00'00"E \ 118.21' hS N C N 6 ♦J 5 \, 1 ti NA CP . 0 5 0 0 C5 1 78.00' T 69.30' N 6 og 7 w 78.00' 45.81' C8 0,1 of $ ∎ 6C10 ,- 16. c 1 . g 52\ °o0 7 m1..:5Q N $ I nn ° $ z N90'00'00 " E �, A 109.41' 1 _ MULLIGAN DRIVE 10.45' 1 N90'00'00'W 23.16' 9 N90'00'00 "W z 1-0 m o o a, 0 ° oo o , •A to I 4 6 ' c. Ce TEMPORARY „�% yo CUL -DE -SAC�� i 0"0,, o . 0 .,y bCS 10 NB N N NO, cc O U J O '5 N5 1 25 5. \ 7 2 °? \6T 5 8 . \ 9 n \ 0' E \�, rn \ N 23' 69 '.. 0_ co U 5 c BENCH SPINDLE 46 FEE] THE CD ELEVATIL A PERM ESTABU WITH Th OM M MI MI En Photographs of Section 10 Looking along Golden Bear Drive in Section 10 Picture of the golf course from the back of one of the Tots in Section 10 McCLUSKEY & ASSOCIATES, INC. Page 12 Certificate and Final Value Estimate The undersigned do hereby certify that, to the best of our knowledge and belief, the statements of fact contained in this report are true and correct The reported analyses, opinions and conclusions are limited only by the reported assumptions and limiting conditions, and are our personal, impartial and unbiased professional analyses, opinions and conclusions. We have no present or prospective interest in the property that is the subject of this report and no personal interest or bias with respect to the parties involved. Our engagement in this assignment was not contingent upon developing or reporting predetermined results. Further, we have no loan application pending which might be contingent upon the results of this appraisal. The appraiser certifies that this appraisal assignment was not based on a requested minimum valuation, a specific valuation, or the approval of a loan. Our compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. Our analyses, opinions, and conclusions were developed and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice and the Standards of Professional Appraisal Practice of the Appraisal Institute. Patrick McCluskey, MAI has 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. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. Regarding Patrick McCluskey, MAI, "The Appraisal Institute conducts a program of continuing education for its designated members. MAI's and RM's who meet the minimum standards of this program are awarded periodic educational certification." "As of the date of this report, I, Patrick McCluskey, MAI, have completed the requirements under the continuing education program of the Appraisal Institute." McCLUSKEY & ASSOCIATES, INC. Page 13 Predicated on the data and analysis contained within this report, the estimated market value of the fee simple interest of the subject property as of September 30, 1999, is in the amount of: Respectfully submitted, McCluskey & Associates Inc. THREE THOUSAND SEVEN HUNDRED FIFTY DOLLARS ($3,750) Patrick McCluskey, MAI C._ State Certified General Real Estate Appraiser No. TX- 1320170 -G Certificate and Final Value Estimate McCLUSKEY & ASSOCIATES, INC. Page 14 This appraisal is subject to the following limiting conditions: Contingent and Limiting Conditions The legal description furnished is assumed to be correct. The firm assumes no responsibility for matters legal in character, nor renders any opinion as to the title, which is assumed to be clear. The property is appraised as having knowledgeable ownership and competent management. The firm has made no survey and assumes no responsibility in connection with such matters. Unless otherwise stated in this report, the existence of hazardous material, which may or may not be present on the property, was not observed by the appraiser. The appraiser has no knowledge of the existence of such materials on or in the property. The appraiser, however, is not qualified to detect such substances. The presence of substances such as asbestos, urea - formaldehyde foam insulation, or other potentially hazardous materials may affect the value of the property. The value estimate is predicated on the assumption that there is no such material on or in the property that would cause a loss in value. No responsibility is assumed for any such conditions, or for expertise or engineering knowledge required to discover them. The client is urged to retain an expert in this field, if desired. Unless otherwise stated in this report, to the best of the appraiser's knowledge, there are no rare, threatened or endangered species or significant areas of potential habitat for rare, threatened or endangered species included in the subject property. The appraiser assumes that there are no hidden or unapparent conditions of the property, subsoil, or structures which would render it more or less valuable. The appraiser also assumes no responsibility for such conditions or for engineering which might be required to discover such factors. Information, estimates, and opinions furnished to the appraiser and contained in this report were obtained from sources considered reliable and believed to be true and correct. However, no responsibility for accuracy of such items furnished the appraiser can be assumed by the appraiser. We are not required to give testimony or attendance in court by reason of the appraisal with reference to the property in question, unless arrangements have been made previously thereof. Possession of this report or a copy thereof does not carry with it the right of publication. It may not be used for any purpose by anyone other than the addressee without the previous written consent of the appraiser. Neither all nor any part of the contents of this report shall be conveyed to the public through advertising, public relations, news, sales, or other media without the written consent and approval of the author, particularly as to valuation conclusions, the identity of the appraiser or firm with which he is connected or any reference to the Appraisal Institute or the MAI designation. McCLUSKEY & ASSOCIATES, INC. Page 15 Patrick McCluskey was born in Austin, Texas and graduated from the University of Texas in December, 1973, with a Bachelors Degree in Business Administration and a concentration in Finance. From November, 1974 through June, 1980 he was a stock broker in Houston, Texas, being involved in transactions concerning stocks, bonds, oil and gas ventures and real estate limited partnerships. In 1980, Mr. McCluskey began his career in the appraisal profession with Coldwell Banker. Mr. McCluskey has been engaged in the full -time activity of real estate appraisal and consulting since that time. Mr. McCluskey has been on the board of directors of an appraisal and consulting firm with over 100 employees including over 20 commercial appraisers and 15 residential appraisers. He has been self employed since 1987. Education B.B.A. - Finance, University of Texas, December 1973 Appraisal Courses Appraisal Institute courses attended: Principles of Real Estate, Procedures, Capitalization I, II, III, Case Studies in Real Estate Valuation, Valuation Analysis and Report Writing, Quantitative Methods, Standards of Professional Practice, Litigation Valuation, . Other seminars and courses attended: Farm and Ranch Update, Real Estate Finance Update, Legislative Update, You Be The Judge, Mediate Arbitrate Or Litigate, Affordable Housing, Private Property Rights, Americans With Disabilities Act, Internet And The Appraiser, Contesting Property Tax Appraisals and MCE Real Estate Brokers License. Professional Memberships & Associations Qualifications of Patrick McCluskey, MAI Licensed real estate broker - State of Texas State Certified General Real Estate Appraiser - TX ( #TX- 1320170 -G) Member, The Appraisal Institute (year awarded 1985 member # 7293) Current Member of the Austin Admissions Committee of the Appraisal Institute Past Member of the National Experience Subcommittee of the Appraisal Institute (Level D Reviewer) Past Member of the South Texas Admission Subcommittees of the Appraisal Institute Past Member of the Board of Directors of the South Texas Chapter of the Appraisal Institute Past Member of the Regional Standards Panel of the Appraisal Institute Experience Mr. McCluskey has experience in the appraisal of: hundreds of vacant land tracts including tracts with endangered species, several hundred apartment complexes, multiple mixed use subdivisions, marinas, motels, numerous office buildings, numerous industrial buildings including R &D, golf courses, churches, retail centers, free standing small commercial buildings and numerous other property types. He has provided expert testimony in numerous courts and hearings. McCLUSKEY & ASSOCIATES, INC. Page 16 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Looking Easterly along Forest Creek Drive Picture of the subject tract McCLUSKEY & ASSOCIATES, INC. Subject Photographs Page 18 MCCLUSKEY 8 ASSOCIATES, INC. Subject Photographs � r �S,� (IIL►it6fi'Fi�r? IIIlI Illl 1 ,1 y �+ l C�� � iw View from the back of the subject tract Picture of the house (prospective subject buyer's) on the adjacent lot Page 19 KEEERENCE 7 _.._ REFERENCE NAME STREET ADDRESS - SUBDIVISION LOT BLOCK SEcncN PHASE_ BO14'JOWCAB _ PAGE PtATRecoms COUNT STATE 0Y TEXAS CRY FIELD 11./WS BE1NC a tract or parcel of land situated in Williamson county, Texas, and 1 inga part of the John H. Randall Survey, Abstract No. 531, and being a portion of a called 0.1192 acre tract of land described in a Special Warranty Deed free Forest Creek Properties 11 A 85, L.T.O. to the City of Round Rock, dated January 9, 1995, recorded in Volume 2975 at Page 035 Williamson County, Texas Peed Records and this portion being more particularly described as follows: BEGINN:NC at. an As" iron rod found for corner at the southeast corner of Lot 19, Forest Creek Phase Three, Revised Addition, a recorded addition to said t+i lLianason County, a plat of Sal. being recorded in Cabinet M at Slide 32 Williamson County Plat Records, said corner bears 4119 a distance of 10.09 feet from the southwest corner of the above called 0.1192 acre tract of land; THENCE 819 ° E and with the east line of Lot 19 a distance of 65.70 feet roan 1" iron rod found for come; THENCE 559 ° 28'16 "E and with a wrought iron fence a distance of 43.07 feet to an ?" iron rat found for corner on the east line of the called 0.1192 acre tract of land; THENCE S19 ° 46'28 "W� and with a wrought iron fence and the east line of the called 0.1192 acre tract of land a distance of 53.59 feet to a point for corner; THENCE with a curve to the left having a delta angle of 4 ° 12'02 ", a radius of 580.00 feet. a chord distance of 42.51 feet, a chord bearing of 875 ° 43'59 "W and a ere distance of 42.52 feet to return to the Place of Beginning and containing 2512.97 square feet of land. 5, 9 -29 -99 urav • Penrod ewe O Iron end et Rom R e: 0 10 e ( ) RgGNll sus PWc•?tGITY •uerve-ylKier TO THE 518NHd0ER 0810 /00 OWNERS DE THE PREMISES SURVEYED ANOTO oaf TITLE CC GA, 0013 Mo. SCALE t do Wet,. artI'lKum* surrey +es Pb day Trade an the ground a OP rape* kaah dem•ad nenm Ndenet 9w. am no Doends 5. lmaanalm. 0oa0amau4 a9 a maummxna a roads pow. (map n peril haven *maxim tlebpa a0>0pnn N MI eritme rn aa.n NI 9a rearseedam mmmasat. OM. 552) 650 - f0o0 0 . (515) 858 -2540 2209 H', Tana -La. A°e0n, 0 78787 Tl50propMt to MUM OE 00 war Bead ICE. rd Pali _Way 8.500n an l 000d 0wertxx raw mand FIRM. Map Na Pond Data ThIS ¢Nadal a for Mama papmes ally and IF aY a 000.0100 that rim awe v'o8a will 'atmpd. Llaenwimm a w -s. 1111111•11M EMIIIMEMNIE Tax Information Address: 3817 BENT BROOK DR RR Tax ID: R349334 Owner: RIALS MIKE R & MARGARET D Ref ID: R -16- 3861- 0000 -0019 Name/Desc: - Map ID: 3 -5943 Use: RESIDENTIAL Prop Zip: 78664 Assessmt: $276,656 Location: ROUND ROCK Taxes: $6,884.69 Year Built: 1996 Land Size: - Deed Date: 1/14/97 Impr SF: 3,584 sf VolumelPg: DOC# / 9702237 Owner Mailing Address Legal Deription sc CREEK RIALS MIKE R & MARGARET D FOREST PH 3 REVISED, LOT 19 3817 BENT BROOK DR ROUND ROCK, TX 78664 Year Land Improvements Agricultrual Total 1996 $47.000 $0 50 $47,000 1997 $45,000 $219,167 $0 $264,167 1998 $45,000 6231,656 $0 $276,656 1999 (Proposed) $45.000 $231,656 $0 $276,656 Total Valuellmproved SF: $77.19 Improved Value/Improved SF: $64.64 Jurisdiction Tax Rate Taxes WILLIAMSON CO 0.299000% $827.20 WMSN CO FM/RD 0.047000% $130.03 RNDROCK ISD 1.757537A $4,862.33 RND ROCK CITY 0.385000% $1,065.13 Proposed 1999 Tax (Using 1998 rates & without exemptions) 2A88537% $6,884.69 Utilities: ALL Topography: LEV Access: PAV Tract Homestead I Size I I RESIDENTIAL $45,0001 RESIDENCE, MASONARY VENEER. VERY GOOD QUALITY Improved Use: RESIDENTIAL SINGLE FAMILY Size: 3,584 sf Value: $231,656 Interior: SHEETROCK Stories: 2 Built: 1996 Roof: HIP Bathrooms: 2 Foundation: SLAB Exterior: BRICK VENEER Fireplaces: 1 Flooring: CARPET HVAC: CENTRAL HEAT /AIR main area 1,931 st second floor 1,653 st garage 462 sf open porch 36 sf Edeck _ I 564 sf I concrete pool 450 sf Sale Date: - Deed Date: 1/14/97 Sale Price: - Volume/Page: DOC#/ 9702237 Tax Information 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Commercial Broker Network • Avl $'` "�. ..3T7. • ..qy Zl`i 4 Page 1 of 1 http:// www. combroker .com/taxw /full.asp ?id= 8349334 9/30/99 RESOLUTION NO. R- 99- 10- 14 -13F5 WHEREAS, Mike Rials and wife, Margaret D. Rials desire to purchase from the City of Round Rock approximately 2,512.97 square feet of land which is adjacent to property they currently own, and WHEREAS, the City of Round Rock desires to sell said property to the Rials', 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 Mike Rials and wife, Margaret D. Rials for the sale of the above described property, a copy of said Real Estate Contract being attached hereto and incorporated herein for all purposes. The City Council hereby finds and declares that written notice of the date, hour, place and subject of the meeting at which this Resolution was adopted was posted and that such meeting was open to the public as required by law at all times during which this Resolution and the subject matter hereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act, Chapter 551, Texas Government Code, as amended, and the Act. RESOLVED this 14th day of •. ober, 1999. E LAND, City Secretary R: \WP➢OCS \RESOI.UPI \R91014P5, WPO /,Cg RT A. STLUKA, JR 9 Mayor City of Round Rock, Texas I McCluskey & Associates, Inc. 13625 Pond Springs Road, Suite 108 Austin, Texas 78729 1 (512) 331 -4822 Fax: (512) 331 -6782 1 September 30,1999 Mike Rials 2320 West Myrtle Drive Chandler, Arizona 85248 RE: The appraisal of 2,512.97 square feet of land located behind the lot located at 3817 Bent Brook Drive, Round Rock, Williamson County, Texas. Dear Mike: I At the request of the client, Patrick McCluskey, MAI, has inspected and appraised the subject property which contains 2,512.97 square feet located behind the lot at 3817 Bent Brook Drive, Round Rock, Williamson County, Texas. Predicated on the data and analysis contained within this report, the estimated market value of the fee simple interest of the subject property as of September 30, 1999, is in the amount of: 1 ($3,750) Please refer to the following report for the appraiser's rationale in arriving at the above opinion. Respectfully submitted, McCluskey & Associates Inc. THREE THOUSAND SEVEN HUNDRED FIFTY DOLLARS 1 1 � I th` 1 1 1 1 1 Rea! Esmre Appraisers and Consultants Patrick McCluskey, MAI State Certified General Real Estate Appraiser No. TX- 1320170 -G 09/28/1999 10:5 2556693 00/20/80 10:07"14212 286 8988 State of Texas County of Williamson JAN HAGOOD REALTY Sheets & Cm . REAL ESTATE CONTRACT THIS CONTRACT OF SALE ( "Contract ") is made by and between 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 'Seller ") and MIKE R. RIALS and wife, MARGARET D. RIA Chandler =OM referred to in this Contract as "Purchaser "), upon the terms at�td o nditiona set forth in this Contract. ARTICLE r PURCHASE AND SALE By this Contract, 6a11er sells and agrees to convey, and Purchaser purchases and agrees to pay for, the tract of land situated in Williamson County, Texas, being more particularly described as follows: SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF FOR ALL PURPOSES. together with all and singular the rights and appurtenances pertaining to the property, (all of such real property, rights, and appurtenancea being referred to in this Contract as the "Property "), for the consideration and upon and subject to the terms, provisions, and conditions set forth below. ARTICLE II PURCHASE PRICE Amount of Purchase Price 2.01. The purcheae price for the Property shall be the sum of THREE THOUSAND SEVEN HUNDRED FIFTY AND NO /100 (53.750.0(1 .) 1 PAGE 02/08 0002/008 09/28/1999 10:35 2556693 00/28/99 10:07 ' f3512 255 8988 JAN HAGOOD REALTY PAGE 03/08 Sheers & Croce. 0003/008 Payment of Purchase Price 2.02. The Purchase Price shall be payable in cash at the closing. ARTICLE III PURCHASER'S OBLIGATIONS Conditions to Purchaser's Obligations 3.01. It shall be an condition to purchaser's performance of its obligations hereunder that Seller shall have performed, observed, and complied with all of the covenants, agreements, and conditions required by this agreement to be performed, observed, and complied with by Seller prior to or ae of the closing. ARTICLE IV CLOSIIG The closing shall be held at the office g 4 ALAMO TITLE COMPANY 1717 N. I1835, Ste. 100, Round Rock, TX on or before 29 days from date hereof, or at ouch time, date, and place as Seller and Purchaser may agree upon (which date is herein referred to as the "closing date'). (1) At the closing Seller shall: (a) Deliver to Purchaser a duly executed and acknowledged Special Warranty Deed conveying good and marketable title in fee simple to all of the Property, free and clear of any and all liens, encumbrancee, conditions, easements, a+seesementa, 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. The aforesaid Special Warranty Deed shall contain the following paragraph: 2 JAN HAGOOD REALTY PAGE 04/88 09/25/99 10:07 tP512 266 8988 Sheets & Crass. _ 21004/008 09/28/1999. 10:35 . 2556693 GRANTOR HAS EXECUTED AND DELIVERED THIS SPECIAL WARRANTY DEED AND HAS CONVEYED THE PROPERTY AND GRANTEE HAS RECEIVED AND ACCEPTED THIS SPECIAL WARRANTY DEED AND HAS PURCHASED THE PROPERTY AS IS ", "WHERE IS ", AND "WITH ALL FAULTS" AND WITHOUT REPRESENTATIONS OR WARRANTIES WHATSOEVER, EXPRESS OR /MPLIED, WRITTEN OR ORAL (EXCEPT FOR THE WARRANTY OF TITLE EXPRESSLY SET FORTS HEREIN.) WITHOUT LIMITATION ON THE FOREGOING, GRANTEE, By ACCEPTANCE OF THIS DEED ACKNOWLEDGES THAT (EXCEPT FOR THE WARRANTY OF TITLE EXPRESSLY SET FORTH HEREIN) GRANTOR HAS NOT MADE, POES NOT MAKE AND SPECIFICALLY NEGATES AND DISCLAIMS ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS, AGREEMENTS OR GUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS OR IMPLIED, ORAL OR WRITTEN, PAST, PRESENT OR FUTURE, OF, AS TO CONCERNING OR WITH RESPECT TO THE PROPERTY OR THE CONDITION OF THE PROPERTY, GRANTEE EXPRESSLY ACKNOWLEDGES AND AGREES THAT ANY INFORMATION PROVIDED TO GRANTEE BY GRANTOR wITH RESPECT TO THE PROPERTY HAS NOT BEEN INDEPENDENTLY INVESTIGATED OR VERIFIED BY GRANTOR; THAT GRANTOR I8 MAKING NO REPRESENTATIONS OR WARRANTIES WHATSOEVER AS TO THE ACCURACY OR COMPLETENESS OF SUCH INFORMATION; AND THAT GRANTOR IS NOT, AND SHALL NOT BE, LIABLE OR BOUND IN ANY MANNER BY ANY VERBAL OR WRITTEN STATEMENTS, REPRESENTATIONS, REPORTS, SURVEYS OR OTHER INFORMATION OF ANY KIND OR NATURE PERTAINING TO THE PROPERTY, OR THE OPERATION THEREOF, FURNISHED BY ANY REAL ESTATE BRDEER, AGENT, EMPLOYEE, SERVANT, OR OTHER PERSON. GRANTOR AND GRANTEE EXPRESSLY CONFIRM AND AGREE THAT THE PURCHASE PRICE RAID BY GRANTEE AND TO GRANTOR FOR THE PROPERTY HAS BEEN ADJUSTED AND AGREED UPON BY GRANTEE AND GRANTOR IN PART AS A RESULT OF GRANTEE'S AGREEING TO PURCHASE THE PROPERTY IN ITS CURRENT CONDITION, AND SUBJECT TO THE DISCLAIMER OF REPRESENTATIONS, AND WARRANTIES SET FORTH HEREIN. (b) Deliver to Purchaser poseessiOn of the property. (3) At the Closing, Purchaser shall pay the cash portion of the purchase price. All costs and expenses of closing in consummating the sale and purchase of the Property shall be borne and paid by Purchaser. 3 09/28/1999 10:35 2556693 09/28/90 •10':08 ' 13112 236 0988 meets a Grope. ARTICLE V REAL ESTATE COMMISSIONS It is understood and agreed that there are no brokers involved in the negotiation and consummation of this Contract. Any real estate commission due shall be the pole responsibility of Purohaser. ARTICLE VI ESCROW DEPOSIT Far the purpose of securing the performance of Purchaser loader the terms and provisions of this agreement, Purchaser has delivered to ALAMO TITLE CO. , the Sum of One Thousand Dollars ($1,000), the Escrow Deposit, which shall be paid by the title company to Seller in the event Purchaser breaches this agreement 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 JAN HAGOOD REALTY RAGE 05/08 Q0006/008 In the event Seller shall fail to fully and timely perform any of its obligations hereunder or shall fail to consummate the Bale of the Property for any reason, except Purchaser's default, Purchaser may request that the Escrow Deposit shall be forthwith returned by the title company to Purchaser. 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 eha11 4 09/28/1999. 10:35 2556693 JAN HAGOOD REALTY 09/28/99 10:09 27512 235 8986 Sheets & trees. have the right to receive the Escrow Depoalt from the title company, the sum being agreed an 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 agreement, and Seiler agrees to accept and take this cash payment as its total damages and relief and ae Seller's sole remedy hereunder in such event. ARTICLE IX MISCELLANEOUS 9.01. assignment of Contract (a) This Contract may not be assigned without the express written consent of Seller. Survival of Covenanta PAGE 06/08 Q008/008 (b) Any of the representations,.warrantiea, covenants, and agreementa 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 (e) Any notice required or permitted to be delivered hereunder shall be deemed received when sent by United State° mail, postage prepaid, certified mail, return receipt requested, addressed to Seller or Purchaser, as the case may be, at the address sat 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 Sound 5 09/28/1999. 10:35 , 2556693 09/28018 19:09 :um 256 9986 JAN HAGOOD REALTY PAGE 07/08 Sheets & Cross. - ®1007/008 (e) Thie Contract shall be binding upon and inure to the benefit of the parties and their respective heirs, executors, administrators, legal representatives, successors and assigns where permitted by this Contract. Legal Construction (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 unenforoeability 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 thin Contract. Gander (i) words of any gender used in this Contract shall be held and construed to include any other gender, and worde in the singular number shall be held to include the plural, and vice versa, unless the context requires otherwise. Compliance (j) In accordance with the requirements of Section 20 of the Texas Real Estate License Act, Purchaser is hereby advised that he should be furnished with or obtain a policy of title insurance or Purchaser should have the abstract covering the Property examined by an attorney of Purchaser's own selection. Dated this 1st day of October , 1999. SELLS& 6 Oct 01 99 troy 09/28/1999 10:35 2556693 JAN HAGOOD REALTY PAGE 08/08 08/28/98 10:09 1 851E 255 8986 Sheets & Cross. Q0088/008 ,_■kk./44 MIKE R. RIALS PURCHASER 221 E. Main St. Round Rock, Texas 78664 M GA T D. 237Q Myrtle ( Arizona 85248 (480) 899 -9633 REcSIHT Receipt of [ 1 Contract and [ 1 $A.000.06 Earnest Money is acknowledged. DGte: , 1999. BY: 88crOW Agent 512 255 6975. p• 8 DATE TITLE CO G.F. 10B No. SCALE REFERENCE # REFERENCE NAME STREET ADDRESS LOT BLOCK SUBDIVISION SECTION PHASE BOOK/VOL/CAB PAGE PLAT RECORDS COUNTY STATE OF TEXAS CITY P)1∎/ - 11 cJPT■/PiYIIJr EXHIBIT "A" (Page 1 o 2 Pages) TD THE LIENHOLDER AND /OR OWNERS OF THE PREMISES SURVEYED AND TO I do hereby certify that iha survey was Mrs on made on Me ground 01 me property legally described hereon earl that mere are no boundary the cONlyIS, eMsKIMentr, sWllappN P of lmprouements, a mad, In piece. eacepl as shown hoven, end certifies only to the legal deuaIN1On and ....CMS shown on the referenced title t °mmltmenI. 9 -29 -99 FIELD ODE BEING a tract or parcel of land situated in Williamson County, Texas, and being a part of the John H. Randall Survey, Abstract No. 531, and being a portion of D called 0.1192 acre tract of land described in a Special Warranty Deed from Forest Creek Properties P3 & P5, L.T.D. to the City of Round Rock, dated January 9, 1995, recorded in Volume 2675 at Page 035 Williamson County, Texas Deed Records and this portion being more particularly described as follows: BEGINNING at an '" iron rod found for corner at the southeast corner of Lot 19, Forest Creek Phase Three, Revised Addition, a recorded addition to said Williamson County, a plat of same being recorded i.n Cabinet M at Slide 32 Williamson County Plat Records, said corner bears N19 ° 46'28 "E a distance of 10.09 feet from the southwest corner of the above called 0.1192 acre tract of land; THENCE N19 ° 46'28 "E and with the east line of Lot 19 a distance of 65.70 feet to an ." iron rod found for come; THENCE S59 ° 28'16 "E and with a wrought iron fence a distance of 43.07 feet to an " iron rod found for corner on the east line of the called 0.1192 acre tract of land; THENCE S19 ° 46'28 "W and with a wrought iron fence and the east line of the called 0.1192 acre tract of land a distance of 53.59 feet to a point for corner; THENCE with a curve to the left having a delta angle of 4 ° 12'02 ", a radius of 580.00 feet, a chord distance of 42.51 feet, a chord bearing of N75 ° 43'59 "W and a arc distance of 42.52 feet to return to the Place of Beginning and containing 2512.97 square feet of land. LEGEND • Iron rod Found O Iron rod set % Fence ] Convete Power Une ( ) Record Calls This property Ilewtthln the 100 rear flood plane, and has a zone rating es shown on the flood Insurance rate maps F.I.R.M. Map N0. Panel Dated Thls certification IS for Insurance purposes only and 0 not a guarantee that this property will Or will not good, FIELD WORK DRAFTING FINAL f.MFCX connrrnrnln Na. 99 REFERENCE NAME Cory FI2or 6 081810 F112or 000(05 i4 T Sa 0/.066 a SUBDIVISION /ADDITION 1•'NRFST C060F.6 - Reviser) Ulnal. 1'I.It ECT10N PHASE Three BOOK / VOLUME /CABINET Cab• DI PAGE Slide 32 COUNTY Will 01116011 STATE of TEXAS CITY Hound Hock LOT 20 LINE L-/ S /9 °46'L9"IV 4.5.70 / 5 /9 ° 433/ "W 65.93'/ N66 ° 59'E 4045' L N 6 '23 "E / 0.41.47'/ 11- 50,00'/ BUILDING 5E. TBAC KS LINES SHALL. LIE AS CUNNENTLY ESTAB LISNED BY T111 CITY 111 10060 ROCK ZONING ORDINANCE. Tine pOprKy II( o' nnNie wan, /52 100year (load Plan 04 nos a mine ncIp°a iw, 0e shown I oa .a This oalil'Nalen ie kJ insurance Porpaeee onr ana ,. non a guarantee EXHIBIT "A" (Page 2 of 2 Pages) OBJECT PROPERTY THIS TRACT SUBJECT TO RESTR ICT10N5 RECORDED IN 1020/769, 1966 /I, 2252 /310, DOC. 9/0.9536507, ORWC T. AND CAB. M, SLIDE 32, PRWCT, P)I�/�p CITY hUPT / 60.50 T ,'ro, "rl 0416 09 '1 - / 99 - 7 � '19 F r1LE N0 / 99- 71 TO THE LIENNOLDER AN0/0R OWNERS Of THE IWEMISES 5020(700 /9010 Al nso'Title Cool PLAT RECORDS 3817 BENT BROOK DRIVE 1 Ja 1Hre6/ Keenly I5al In,e eur.eY 801 In,e 60Y mode on I00 60,od ar lie poverty legally deeol/M Weoa and Inol mere ore no noumrvy nne coillich,ancrocchrnenls,nyoloyving d i w rogue in vice 7 51 w Klwn hereon, and certifies only 10l¢.5ol eeH0.0. and m l5 .�V,CreennedlllNrpnmarnsnl SCALE 1 " =20 LEGEND W el Penne Con rrele ee Lire Remrd GaIH F _IFT ING K a /eenerrape INAL CHECK v /M. —JI DATE: October 8, 1999 SUBJECT: City Council Meeting — October 14, 1999 ITEM: 13.F.5. Consider a resolution authorizing the Mayor to execute a Real Estate Contract to sell approximately 2,512.97 square feet of property to Mike Rials and wife, Margaret Rials. Staff Resource Person: Jim Nuse, Public Works Director.