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R-99-11-09-10E1 - 11/9/1999Date: , 2000 Grantor: G. W. MCCONICO and wife, PRTR&NELLA MCCONICO Grantor's Mailing Address (including county): G. W. cCONICO and wife, PETRENELLA McCONICO 4 i f V t ( fl Live, 11. l 1 • COUNTY 2000048841 3 Pes CASE NARRANTY DEED Grantee: CITY OF ROUND ROCK grantee's Mailing Address (including county): CITY OF ROUND ROCK 221 East Main Street Round Rock, Texas 78664 Williamson County CONSIDERATION: TEN AND NO /100 DOLLARS and other good and valuable consideration. PROPERTY (including any imprO ents): TRACT 1: irteEi (13), Fourteen (14), Fifteen Lots Twelve (12), Th Eighteen (18), (15), Sixteen (16), Seventeen lock of the City of Nineteen (19) and Twenty (20), mapnorRplat thereof recorded ecorded IinTexas, according to the Slide 190, Plat Records of Williamson County, Texas. TRACT 2: APPROXIMATELY 0.94 of an acre of land out of the WILEY HARRIS SURVEY, ABSTRACT NO. 298, in Williamson County, Texas, being the same tract of land more particula Volume P 27 metes and recorded WilliamsonCounty ,1 Texas. 454, Pag 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 leaees, mineral severances, and other instruments, other than liens and conveyances, that affect the property; rights of adjoining owners in any wane and fences situated on a common boundary; any encroachments or overlapping of improvements: and taxes for the CASH WARRANTY DEED - PAGE 1 c, \vVOOCB \YA�� \D171v�C.v90/Wc current year, the payment of which Grantee assumes, and the following specific reservations and exceptions: 1. Reservation of all oil, gas, and other minerals, contained in Deed dated August 10, 1901, recorded in Volume 447, Page 105, Deed Records of Williamson County, Texas, executed by Missouri Pacific Railroad Company to City of Round Rock. Grantor, for the consideration, receipt of which is acknowledged, and subject to the reservations from and exceptions to conveyance and together warranty, grants, sells and conveys to Gra thetproperty, any tier with all and singular the rights and app 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 a: \moou'\in-- wiifrmc.uenre� ACKNOWLEDGMENT G. W. MCCONICO 5 5 5 i PETRRNE7.T.A McCONICO STATE OF TEXAS COUNTY OF WILLIAMSON is instrument was acknowledged before me on the d day of , 2000, by G. W. MCCONIC` and wife, PETRENELLA McCONICO. Notary Public, State of Texas PREPARED 2N TfE OFFICE OF: AFTER RECORDING RETURN TO: CASH WARRANTY DEED - PAGE 3 e:\weeocs\rk.\asltwoe..en Brown McCarroll Sheets S Cross4eld, L.L.P. 309 E. Jain St. Round Rock, Texas 78664 Alamo Title Company 1717 North IH -35, Suite 150 Round Rock, Texas 78664 '7/006 FILED MD RECORDED OFFICIAL PUBLIC RECORDS 07 -27 -2000 02:11 PM 2000048841 MABRY $13.00 NANCY E. RISTER 9COUNTY CLERK WILLIAMSON COUNTY, TEXAS August 21, 2000 City of Round Rock, Texas 221 E. Main Street Round Rock, TX 78664 Order No.: 99- 7100617 Alamo Title Company One Financial Center 1717 N. IH35 Suite 150 • Round Rock, TX 78664 (512) 244 -2266 • FAX 1512) 244 -1001 In connection with the above captioned file, I enclose the following: 1. Original Owners Policy of Title Insurance. 538999. Please be reminded, that it is your responsibility to have the property assessed in your name for the upcoming year, with all of the applicable taxing authorities. We Will maintain and `complete and permanent file on property. This will enable us to give you prompt and efficient service in the event of a future sale or mortgage. Should you have any questions regarding the above matter, please do not hesitate to call. Sincerely, Alamo Title of Travis County, Inc. By 11 SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, ALAMO TITLE INSURANCE, a Texas corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by reason of: 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title: 3. Any statutory or constitutional mechanic's, contractor's, or materialman's lien for labor or material having its inception on or before Date of Policy; 4. Lack of a right of access to and from the land; 5. Lack of good and indefeasible title. The company also will pay costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. Secretary- Treasurer OWNER POLICY OF TITLE INSURANCE Issued By Alamo Title Insurance (Authorized Signature) A10191 53 Alamo Title Insurance President FORM T -1: Owner Policy of Title Insurance Effective 1/1/93 EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage. costs. attorneys' fees or expenses that arse by reason of 1. (a) Any law, ordinance or governmental regulation (including but not Ilmiled to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relat to (i) the occupancy. use. or enjoyment of the land; (ii) the character. dimensions or location of any improvement now or hereafter erected on the land; 01i) a separation In ownership or a change In the dimensions or area of the land or any parcel 01 which the and Is or was a part: or 0v) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent That a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the and has been recorded In the public records al Date of Policy. (b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting Iron a violation or alleged violation affecting the land has been recorded in the Public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded In the Public records al Dale of Policy, but not excluding from coverage any taking that has occurred prior to Dale of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects. liens, encumbrances. adverse claims or other matters: (a) created, suffered, assumed or agreed to b9 the insured claimant. (0) not known to the Company, not recorded In the public records al Date of Policy, but known to the insured claimant and not disclosed In writing to the Company by the Insured claimant prior to the date the insured claimant became an insured under Ihrs pal icy (o) resulting in no loss or damage to the insured claimant. (d) attaching or created subsequent to Dare of Policy; (e) resulting in loss or damage that would nor have been sustained it the Insured claimant had paid value for the estate or interest Insured by Ihrs Policy 4. The refusal of any person to purchase. lease or lend money on the estate or interest covered hereby In the land described In Schedule A because of unmarketabE ly of the Mlle. 5. Any claim, which arises out of the transaction vesting In the person named in paragraph 3 01 Schedule A the estate or interest insured by this policy, by reason of the operation of federal bankruptcy, state insolvency, or other stale or federal creditors' rights laws that is based on either (i) the transaction creating the estate or interest Insured by this Policy being deemed a fraudulent conveyance or fraudulent transfer or a voidable distribution or voidable dividend or (li) the subordination or recharacterizatlon of the estate or interest Insured by Ihes Policy as a result of the appllcatlon of the doctrine of equitable subordination or (lc) the transaction creating the estate or interest insured by this Policy being deemed a preferential transfer except where the preferential transfer results from the failure of the Company or Its issuing agent to timely the for record the Instrument of transfer 10 the Insured after delivery or the failure of such recordation to Impart notice to a purchaser for value or a judgment or lien creditor. CONDITIONS AND STIPULATIONS 1. DEFINITIONS OF TERMS. The following terms when used in this policy mean. (a) "Insured ": the insured named in Schedule A, and subject to any rights or defenses the company would have had against the named insured. (hose who succeed to the Interest of the named insured by operation of law as distinguished from purchase including, but not limiled lo, heirs, distribulees, devisees, survivors, personal representatives, next of kin, or corporate. Partnership or fiduciary successors, and specifically, without limitation, the following_ (i) the successors in Interest to a corporation resulting from merger or consolidat0n or the distribution of the assets of the corporation upon pedal or complete liquidation'. 0) the partnership successors In interest to a general or limited partnership which dissolves but does not terminate: (it) the successors In Interest to a general or limited partnership resulting from the distribution of the assets of the general or limited partnership upon partial or complete liquidation, (iv) the successors In Interest to a joint venture resulting from the distribution of the assets of the mint venture upon partial or complete liquidation', (v) the successor or substitute trustee(s) of a trustee named In a written trust Instrument; or (00 the successors In Interest to a trustee or trust resulting from the distribution of all or pan of the assets of the trust to the beneficiaries thereof. (b) "ensured claimant "' an Insured claiming loss or damage. (c) 'knowledge" or "known actual knowledge. not constructive knowledge or notice that may he imputed to an insured by reason of the public records as defined In this policy or any other records which impart constructive notice of matters affecting the and (9) "land' the land described or referred to In Schedule A, and Improvements affixed (hereto that by law constitute real properly. The term "land" does not Include any propedy beyond the lines of the area described or referred to in Schedule A, nor any right, title. interest, estate or easement in aoutbng streets. reads, avenues. alleys, lanes. ways or waterways, but nothing herein shall modify or limit the extent to which a rght of access to and from the land Is Insured by Ihrs policy. (e) "mortgage", mortgage. deed of trust trust deed. or other security instrument (I) "public records ": records established under slate statutes as Date of Policy for the purpose of impaoing constructive notice of matters relating to real property to purchasers for value and without knowledge. With respect to Section 1(0)(Iv) of the Exclusions From Coverage, 'public records' also shall include environmental protection liens filed in the records of the clerk of the United Stales district court for the district In which the land Is located (g) "access ": legal rght of access to the land and not the physical condition of access. The coverage provided as to access does not assure the adequacy of access for the use Intended 2. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF TITLE. The coverage of Ihes policy shall continue m force as of Dale of Policy In favor at an insured only so long as the insured retains an estate or interest in the land. or holds an indebtedness secured by a purchase money mortgage given by a purchaser from the ensured. or only so long as the insured shall have liability by reason of covenants of warranty made by the Insured in any transfer or conveyance of the estate or interest. This policy shall not continue in force in favor of any purchaser from the insured of either (I) an estate or interest In the land, (ii) and Indebtedness secured by a purchase money mortgage given to the insured. 3. NOTICE OF CLAIM TD BE GIVEN BY INSURED CLAIMANT. The Insured shall notify the Company promptly In Wing (1) in case of any litigation as set tort in Sect on 4 (a) below, or (it) In case knowledge shall come to an Insured hereunder of any claim of title or interest that Is adverse to the title to the estate or Interest as ensured. and that might cause loss or damage for which the Company may be liable by virtue of this policy. If prompt notice shall net be given to the Company. then as to the insured all liability of the Company shall terminate with regard to the matter or matters for which prompt notice is required; provided, however, that laelure to notify the Company Shall in no case prejudice the rights of any ensured under this policy unless the Company shall be prejudiced by the failure and then only the extent of the prejudice. When, after the date of the policy, the ensured notifies the Company as required herein of a lien, encumbrance, adverse claim or other defect in title to the estate or interest in the land insured by this policy that is not excluded or excepted from the coverage of This policy, the Company shall promptly Investigate the charge to determine whether the lien, encumbrance, adverse claim or defect is valid and not barred by law or statute. The Company shall notify the ensured in writing, within a reasonable lime, of its determination as to the validity or Invalidity of the te i insured's claim or charge under the policy. If the Company concludes that the lien, encumbrance, adverse claim or defect is not covered by this policy, or was otherwise addressed in the closing of the transaction In connection with which this policy was issued. the Company shall Specifical advise the ensured of the reasons for Its determination If the Company concludes that the lien, encumbrance, adverse claim or defect is valid, the Company shall lake one of the following actions: (i) institute the necessary proceedings to clear the lien. encumbrance, adverse claim or defect from the title to the estate as ensured, )r) Indemnify the insured as provided en this policy; (li) upon payment of appropriate premium and charges therefor, issue to the insured claimant or to a subsequent owner, mortgagee or holder of the estate or Interest In the land ensured by this policy, a policy of title Insurance without exception for the lien, encumbrance, adverse claim or defect, said policy to be in an amount equal to the current value of the property on If a mortgagee policy, the amount of the loan, (iv) indemnify another title Insurance A\ company in connection with Its issuance of a pollcy(ies) of title insurance without exception for the Ilan, encumbrance. adverse claim or detect; (v) secure a release or other document discharging the lien. encumbrance, adverse claim or defect; or (vl) undertake a combenator of () through (v) herein. OWNER'S POLICY SCHEDULE A File Number: 99- 7100617 Policy Number: 538999 Amount of Insurance: S470,774.70 Premium: $3,320.00 Date of Policy: July 27, 2000 at 02:11 p.m. 1. Name of Insured: City of Round Rock 2. The estate or interest in the land covered by this Policy is: Fee Simple 3. Title to the estate or interest in the land is insured as vested in: City of Round Rock 4. The land referred to in this policy is described as follows: SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF FORM T -1: Residential Owner Policy of Title Insurance TRACT 1: Lots Twelve (12), Thirteen (13), Fourteen (14), Fifteen (15), Sixteen (16), Seventeen (17), Eighteen (181, Nineteen (19) and Twenty (20), Block "3" of the City of Round Rock, Williamson County, Texas, according to the map or plat thereof recorded in Cabinet A, Slide 190, Plat Records of Williamson County, Texas. TRACT 2: FORM T 1: Residential Owner Policy el Title Insurance EXHIBIT "A" GF No. 99- 7100617 Policy No. 538999 APPROXIMATELY 0.94 of an acre of land, out of the WILEY HARRIS SURVEY, ABSTRACT NO. 298, in Williamson County, Texas, being the same -tract of land more particularly described by metes and bounds in Deed recorded in Volume 454, Page 279, Deed Records of Williamson County, Texas. The Company is prohibited from insuring the area or quantity of the land described herein. Any statement in the above legal description of the area or quantity of land is not a representation that such area or quantity is correct, but is made only for informational and /or identification purposes and does not override Item 2 of Schedule B hereof. This policy does not insure against loss or damage (and the company will not pay costs, attorney's fees or expenses) that arise by reason of the terms and conditions of the leases or easements insured, if any, shown in Schedule A and the following matters: 1. The following restrictive covenants of record itemized below (We must either insert specific recording data or delete this exception): Item 1, Schedule B is hereby deleted. OWNER'S POLICY SCHEDULE B EXCEPTIONS GF No. 99- 7100617 Policy No. 538999 Omitting from any documentation set out herein discriminatory provisions, if any, based on race, color, religion, sex, handicap, familial status, national origin, or any other prohibited basis of discrimination. 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 vegetation, or the right of access to that area or easement along and across the area. 5. Standby fees, taxes and assessments by any taxing authority for the year 2000, and subsequent years and subsequent taxes and assessments by any taxing authority for prior years due to change in and usage or ownership, but not those taxes or assessments for prior years because of an exemption granted to a previous owner of the property under Section 11 .13, Texas Tax Code, or because of improvements not assessed for a previous tax year. FORM T -1: Residential Owner Policy of Title Insurance 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. Visible and apparent easements over and across subject property. c. Rights of tenants in possession under unrecorded leases and /or rental agreements. d. Any portion of the property herein described which falls within the boundaries of any road or roadway. e. Reservation of all oil, gas, and other minerals, contained in Deed dated August 10, 1961, recorded in Volume 447, Page 105, Deed Records of Williamson County, Texas, executed by Missouri Pacific Railroad Company to City of Round Rock. Said mineral interest not traced subsequent to the date of the above cited instrument. ALAMO TITLE INSURANCE - be.tic_ Cl4s ..45 Authorized Agent FORM T -1: Residential Owner Policy of Title Insurance GF No. 99- 7100617 Policy No. 538999 CONDITIONS AND STIPULATIONS - Continued 4. DEFENSE AND PROSECUTION OF ACTIONS: DUTY OF INSURED CLAIMANT TO COOPERATE. (a) Upon written request by the insured and subject In the options contained In Section 6 of these Conditions and Stipulations, the Company, al Its own cost and wilhoul unreasonable delay, shall provide for the defense of an insured in litigation in which any third party asserts a claim adverse to the title or Interest as Insured, bul only as to those staled causes of action alleging a defect, lien or encumbrance or other matter insured against by this policy. The Company shall have the right to select counsel o11ts choice (subject to the right of the insured to object for reasonable cause) to represent the insured as to hose slated causes of action and shall not be liable for and will not pay the lees of any other counsel. The Company will not pay any fees, costs or expenses incurred by the insured in the defense of those causes of action That allege mailers not insured against by this poky. (b) The Company shall have the right, al its own cost to institute and prosecute any action or proceeding or to do any other act that in its opinion may be necessary or desirable to establish the title to the estate or interest, as Insured, or to prevent or reduce loss or damage to the insured. The Company may take any appropriate action under the terms of this policy. whether or not it shall be liable hereunder, and shall not thereby concede liability or waive any provision of this policy. If the Company shall exercise its fights under This paragraph, Il shall do so diligently. (c) Whenever the Company shall have brought an action or interposed a defense as required or permitted by the provisions of this policy, the Company may pursue any litigation to final determination by a court of compelenl jurisdiction and expressly reserves the right in its sale discretion. to appeal from any adverse judgment or order. (d) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding, the Insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, and all appeals therein, and permit the Company to use, al its option, the name of the insured for this purpose. Whenever requested by the Company, the insured, at the Company's expense, shall give the Company all reasonable aid (i) in any action or proceeding, securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and (ii) in any other lawful act That in the opinion of the Company may be necessary or desirable to establish the title to the estate or interest as insured. If the Company is prejudiced by the failure of the insured to lumish the required cooperation, the Company's obligations to the insured under the policy shall terminate, Including any liability or obligation to defend, prosecute, or continue any litigation, W th regard to the matter or matters requiring such cooperation. 5. PROOF OF LOSS OR DAMAGE. In addition to and after the notices required under Section 3 of these Conditions and Stipulations have been provided the Company, a proof of loss or damage signed and sworn to by the insured claimant shall be fumished to the Company within 91 days after the Insured claimant shall ascertain the facts giving rise to the loss or damage The proof of loss or damage shall describe the defect in, or lien or encumbrance on the title, or other matter insured against by this policy that constitutes the basis of loss or damage and shall stale, to the extent possible, the basis of calculating the amount of the loss or damage. If the Company is prejudiced by the failure of the Insured claimant to provide the required proof of loss or damage, the Company's obligations to the insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation. with regard to the matter or matters requiring such proof of loss or damage. In addition, the insured claimant may reasonably be required to submit to examination under oath by any authorized representative of the Company and shall produce for examination, inspection and copying, al such reasonable times and places as may be designated by any authorized representative of the Company, all records, books, ledgers. checks. correspondence and memoranda, whether beadng a date before or after Date of Policy, which reasonably pertain to the loss or damage. Further, II requested by any authorized representative of the Company. the Insured claimant shall grant its permission, in writing, for any authorized representative of the Company to examine. Inspect and copy all records, books. ledgers, checks, correspondence and memoranda in the custody or control of a third parry, which reasonably pertain to the loss or damage. All information designated as confidential by the insured claimant provided to he Company pursuant to this Section shall not be disclosed to others unless, In the reasonable judgment of the Company, it Is necessary in the administration of the claim. Failure of the Insured claimant to submit for examination under oath, produce other reasonably requested information or grant permission to secure reasonably necessary Information from third parties as required in this paragraph shall laminate any liability of the Company under This policy as to That claim. 5. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS, TERMINATION OF LIABILITY. In case of a claim under this policy. the Company shall have the following additional options, (a) To Pay or Tender Payment of the Amount of Insurance. To pay or tender payment of the amount of insurance under This policy, together with any costs, attorneys' fees and expenses incurred by the insured claimant, which were authorized by the Company, up to the time of payment or tender of payment and which the Company is obligated to pay. Upon the exercise by the Company of this option, all liability and obligations to the insured under this policy, other than to make the payment required, shall terminate, including any lability or obligation to defend, prosecute, or continue any litigation, and the policy shall be surrendered to the Company for cancellation. 01 To Pay or Otherwise Settle With Patios Other than the Insured or With the Insured Claimant. (i) t° pay or otherwise settle with other parties for or to the name of an insured claimant any claim insured against under this policy, together with any cost. altomeys' fees and expenses incurred by the insured claimant, which were authorized by the Company up lo the time or payment and which the Company is obligated to pay; or fa) to pay or otherwise settle with the insured claimant the loss or damage provided for under this policy. Together with any costs. attorneys' fees and expenses Incurred by the insured claimant, which were authorized by the Company up to the lime of payment and which the Company is obligated to pay. Upon the exercise by the Company of either of the options provided for in paragraphs (b)(i1 or (ii), the Company's obligations to the insured under this policy for the claimed loss or damage, other than the payments required to he made, shall terminate, Including any Valli) or obligation to defend, prosecute or continue any litigation. 7. DETERMINATION, EXTENT OF LIABILITY AND CONINSURANCE. This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the insured claimant who has suffered loss or damage by reason of matters insured against by this policy and only to the extent herein described. (a) The liability of the Company under this policy shall not exceed the least of: (i) the Amount of Insurance slated in Schedule A; (ii) the difference between the value of the insured estate or interest as Insured and the value of the insured estate or interest subject to the defect, lien or encumbrance insured against by this policy at the date 316 insured claimant is required to furnish to Company a proof of loss or damage In accordance with Section 5 of these Conditions and Stipulations. (b) In the event the Amount of Insurance stated in Schedule A al the Dale of Policy is less than 60 percent of the value of the Insured estate or interest or the full consideration paid for the land, whichever is Tess, ail subsequent to the Date of Policy an improvement is erected on the land which increases the value of the insured estate or interest by at least 20 percent over the Amount of Insurance staled In Schedule A. Then This Policy Is subject to the following. (i) where no subsequent improvement has been made, as to any partial Toss, the Company shall only pay the loss pro rata in the proportion that the amount of insurance al Date of Policy bears to the total value of the insured estate or interest at Date of Policy', or (ii) where a subsequent improvement has been made. as to any panial loss. the Company shall only pay the loss pro rata In the proportion that 120 percent of the Amount of Insurance slated in Schedule A bears to the sum of the Amount of Insurance staled in Schedule A and amount expended for the improvement. The provisions of this paragraph shall not apply to costs, attorneys' lees and expenses for which the Company Is liable under this policy, and shall only apply to that portion of any loss which exceeds, in the aggregate, 10 percent of the Amount of Insurance slated in Schedule A. (c) The Company will pay only those costs attorneys' lees and expenses incurred in accordance with Section 9 of these Conditions and Stipulations. 8. APPORTIONMENT If the land described in Schedule A consists of two or more parcels that are not used as a single site, and a lass is established affecting one or more Of the parcels but not all, the loss shall be computed and settled on a pro rata basis as 1 the amount of insurance under this policy was divided pro rata as to the value on Dale of Policy of each separate parcel to the whole, exclusive of any improvements made subsequent to Date of Policy, unless a liability or value has otherwise been agreed upon as to each parcel by the Company and the Insured al the lime of the issuance of this policy and shown by an express statement or by an endorsement attached to this policy. 9. UMITATION OF UABILITY. (a) If the Company establishes the title, or removes the alleged defect, lien or encumbrance, or cures the lack of a right of access to or from the land, all as insured, or lakes action In accordance with Section 3 or Section 6, in a reasonably diligent manner by any method, including litigation and the mmplelion of any appeals therefrom, it shall have full performed its obligations with respect to that matter and shall nol be liable for any loss or damage caused thereby. (b) In the event of any litigation. including litigation by the Company or with the Company's consent, the Company shall have no liability for loss or damage until there has been a final determination by a 00ud of competent jurisdiction, and disposition of all appeals therefrom, adverse to the title as Insured. (c) The Company shall not be liable for loss or damage to any insured for liability voluntarily assumed by he insured in settling any claim or suit without the prior written consent of the Company. 10. REDUCTION OF INSURANCE: REDUCTION OR TERMINATION OF LIABILITY, All payments under This policy, except payments made for costs. attorneys' fees and expenses, shall reduce the amount of the insurance pro tent°. ` 1 (Continued on Reverse Side of Page) c 0 1- CONDITIONS AND STIPULATIONS - Continued 11. LIABILITY NONCUMULATIVE. It is expressly understood that the amount of insurance under This policy shall be reduced by any amount the Company may pay under any policy insuring a mortgage to which exception is taken in Schedule B or to which the insured has agreed, assumed, or taken subject, or which is hereafter executed by an insured and which is a charge or lien on the estate or interest described or referred to in Schedule A, and the amount so paid shall be deemed a payment under this policy to the insured owner. 12. PAYMENT OF LOSS. (a) No payment shall be made without producing this policy for endorsement of the payment unless the policy has been lost or destroyed, in which case proof of loss or destruction shall be furnished to the satisfaction of the Company. (b) When liability and the extent of loss or damage has been definitely fixed in accordance with these Conditions and Stipulations, the loss or damage shall be payable within 30 days thereafter. 13. SUBROGATION UPON PAYMENT OR SETTLEMENT. (a) The Company's Right of Subrogation. Whenever the Company shall have settled and paid a claim under this policy, all right of subrogation shall vest in the Company unaffected by any act of the insured claimant. The Company shall be subrogated to and be entitled to all rights and remedies that the insured claimant would have had against any person or property in respect to the claim had this policy not been issued. If requested by the Company, the insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect this right of subrogation. The insured claimant shall permit the Company to sue, compromise or settle in the name of the insured claimant and to use the name of the insured claimant in any transaction or litigation involving these rights or remedies. If a payment on account of a claim does not fully cover the loss of the insured claimant, the Company shall be subrogated to these rights and remedies in the proportion that the Company's payment bears 10 the whole amount of the loss. If loss should result from any act of the insured claimant, as stated above, That act shall not void this policy, but the Company, in that event, shall be required to pay only that part of any losses insured against by this policy that shall exceed the amount, if any, last to the Company by reason of the impairment by the insured claimant of the Company's right of subrogation. (b) The Company's Rights Against Non - Insured Obligors. The Company's right of subrogation against non - insured obligors shall exist and shall include, without limitation, the rights of the insured to indemnities, guaranties, other policies of insurance or bonds, notwithstanding any terms or conditions contained in those instruments that provide for subrogation rights by reason of this policy. 14. ARBITRATION. Unless prohibited by applicable law or unless this arbitration section is deleted by specific provision in Schedule B of this policy, either the company or the insured may demand arbitration pursuant to the Title Insurance Arbitration Rules of the American Arbitration Association. Arbitrable matters may include, but are not limited to. any controversy or claim between the Company and the Insured arising out of or relating to this policy, any service of the Company in connection with its issuance or the breach of a policy provision or other obligation. All arbitrable matters when the Amount of Insurance is $1,000,000 or less SHALL BE ARBITRATED at the request of either the Company or the Insured, unless the insured is an individual person as distinguished from a corporation, trust, partnership, association or other legal entity). All arbitrable matters when the Amount of Insurance is in excess of $1,000,000 shall be arbitrated only when agreed to by both the Company and the Insured. Arbitration pursuant to this policy and under the Rules in effect on the date the demand for arbitration is made or, at the option of the insured, the Rules in effect at Date of Policy shall be binding upon the parties. The award may include attorney's fees only if the laws of the slate in which the land is located permit a court to award attorneys' fees to a prevailing party. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court having jurisdiction (hereof. law f the d f hallo apply an arbitration under the Title Insurance Arbitration The o e s us o the land pp y u t al ion Rules. A copy of the Rules may be obtained from the Company upon request. 15. LIABILITY LIMITED TO THIS POLICY: POLICY ENTIRE CONTRACT. (a) This policy together with all endorsements., if any, attached hereto by the Company is the entire policy and contract between the insured and the Company. In interpreting any provision of this policy, this policy shall be construed as a whole. (b) Any claim of loss or damage, whether or not based an negligence, and which arise out of the status of the title to the estate or interest covered hereby or by any action asserting such claim, shall be restricted to this policy. (c) No amendment of or endorsement to this policy can be made except by a writing endorsed hereon or attached hereto signed by either the President, a Vice President, the Secretary, an Assistant Secretary, or validating officer or authorized signatory of the Company. 16. SEVERABILITY. In the event any provision of the policy is held invalid or unenforceable under applicable law, the policy shall be deemed not to include that provision, and all other provisions shall remain in full force and effect. 17. NOTICES, WHERE SENT. All notices required to be given the Company and any statement in writing required to be furnished the Company shall include the number of this policy and shall be addressed to the Company 0110010 San Pedro, Suite 800, San Antonio, Texas 78216 -3895, COMPLAINT NOTICE Should any dispute arise about your premium or about a claim that you have filed, contact the agent or write to the Company that issued the policy. If the problem is not resolved, you also may write the Texas Department of Insurance, P.O. Box 149091, Austin, TX 78714 -9091, Fax No. (512) 475 -1771. This notice of complaint procedure is for information only and does not become a part or condition of lhls policy. 1 City of Round Rock 221 E. Main Street Round Rock, TX 78664 Dear Purchasers, We are enclosing a copy of the Commitment for Title Insurance along with copies of the restrictions for your review. If you have not yet provided us with the name of your lender, your loan officer, and homeowner insurance company and agent, please contact us as soon as possible with this information. Also, please be aware that the State Board of Insurance requires any funds brought to closing be in the form of a cashiers check made payable to Alamo Title Company or wire transfer. Please let us know if you have any questions. Sincerely, Ann Townsend Escrow Officer JL enclosure(s) Commitment to Buyer - Restrictions Onlylcomm wpI :1F Alamo Title Company 1717 N. IH35 #150 Round Rock, TX 78664 (512) 244 -2266 • FAX (512) 244 -1001 Date: November 30, 1999 GF#: 99- 7100617 Seller: Garfield McConico and Petronella McConico Buyer: City of Round Rock, Texas Property Address: , Round Rock, TX 78664 THE FOLLOWING COMMITMENT FOR TITLE INSURANCE IS NOT VALID UNLESS YOUR NAME AND THE POLICY AMOUNT SHOWN IN SCHEDULE A, AND OUR AUTHORIZED REPRESENTATIVE HAS COUNTERSIGNED BELOW. COMMITMENT FOR TITLE INSURANCE ISSUED BY Alamo Title Insurance We, Alamo Title Insurance, a Texas Corporation, will issue our title insurance policy or policies (the Policy) to You (the proposed insured) upon payment of the premium and other charges due, and compliance with the requirements in Schedule B and Schedule C. Our Policy will be in the form approved by the Texas Department of Insurance at the date of issuance, and will insure your interest in the land described in Schedule A. The estimated premium for our policlLand applicable endorsements is shown on Schedule D. There may be additional charges such as recording fees, and expedited deliver expenses. This Commitment ends ninety (90) days from the effective date, unless the Policy is issued sooner, or failure to issue the Policy is our fault. Our liability and obligations to you are under the express terms of this Commitment and end when this Commitment expires. ATTEST: amo Tide Insurance Secretary-T i$er V President CONDITIONS AND STIPULATIONS 1. If you have actual knowledge of any matter which may affect the title or mortgage covered by this Commitment, that is not shown in.$chedule B, you must notify us in writing. If you do not notify us in writing, our liability to you is ended or reduced to the extent that your failure to notify us affects our liability. If you do notify us, or we learn of such matter, we may amend Schedule 8, but we will not be relieved of liability already incurred. 2. Our liability is only to you, and others who are included in the definition of Insured in the Policy to be issued. Our liability is only for actual loss incurred in your reliance of this Commitment to comply with its requirements or to acquire the interest in the land. Our liability is limited to the amount shown in Schedule A of this Commitment and will be subject to the following terms of the Policy: Insuring Provisions, Conditions and Stipulations, and Exclusions. (THIS COMMITMENT IS INVALID UNLESS SCHEDULES A, B, C AND D ARE ATTACHED HERETO.) Iry Issued: 11/23/1999, 08:00 A.M. (e) OTHER COMMITMENT SCHEDULE A EFFECTIVE DATE: November 4, 1999, 08:00 A.M. GF NO.: 99- 7100617 1. The policy or policies to be issued are: (a) OWNER POLICY OF TITLE INSURANCE (Form T -1) (Not applicable for improved one -to -four family residential real estate) Policy Amount: 8682,149.60 PROPOSED INSURED: City of Round Rock, Texas (b) TEXAS RESIDENTIAL OWNER POLICY OF TITLE INSURANCE ONE -TO -FOUR FAMILY RESIDENCES (Form T -1R) Policy Amount: 80.00 PROPOSED INSURED: (d) MORTGAGEE TITLE POLICY BINDER ON INTERIM CONSTRUCTION LOAN (Form T -13)' Binder Amount: 80.00 PROPOSED INSURED: Proposed Borrower: Policy Amount: 80.00 PROPOSED INSURED: (c) MORTGAGEE POLICY OF TITLE INSURANCE (Form T -2) Policy Amount: $0.00 PROPOSED INSURED: Proposed Borrower: 2. The interest in the land covered by this Commitment is: Fee Simple 3. Record title to the land on the Effective Date appears to be vested in: G. W. McConico, as to Tracts 1 & 2, and Evon McConico, as to Tract 3 4. Legal Description of land: SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF 1 EXHIBIT "A" GF No. 99- 7100617 TRACT 1: Lots Twelve (12), Thirteen (13), Fourteen (14), Fifteen (15), Sixteen (16), Seventeen (17), Eighteen (18), Nineteen (19) and Twenty (20), Block "3" of the City of Round Rock, Williamson County, Texas, according to the map or plat thereof recorded in Cabinet A, Slide 190, Plat Records of Williamson County, Texas. TRACT 2: APPROXIMATELY 0.94 of an acre of land, out of the WILEY HARRIS SURVEY, ABSTRACT NO. 298, in Williamson County, Texas, being the same tract of land more particularly described by metes and bounds in Deed recorded in Volume 454, Page 279, Deed Records of Williamson County, Texas. TRACT 3: Being an unnumbered Lot and referred to as Lot Twenty -One (21), Block "3" of the City of Round Rock, Williamson County, Texas, according to the map or plat thereof recorded in Cabinet A, Slide 190, Plat Records of Williamson County, Texas, and being the same property described in Deed recorded in Volume 655, Page 575, Deed Records of Williamson County, Texas. .c 2 GF No. 99- 7100617 SCHEDULE B EXCEPTIONS FROM COVERAGE In addition to the Exclusions and Conditions and Stipulations, your Policy will not cover loss, costs, attorney's fees, and expenses resulting from: 1. The following restrictive covenants of record itemized below (We must either insert specific recording data or delete this exception): Item 1, Schedule B is hereby deleted. Omitting from any documentation set out herein discriminatory provisions, if any, based on race, color, religion, sex, handicap, familial statts, national origin, or any other prohibited basis of discrimination. 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. (Applies to the Owners Policy only.) 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 vegetation, or the right of access to that area or easement along and across the area. (Applies to Owner Policy only.) 5. Standby fees, taxes and assessments by any taxing authority for the year 1999 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 terms and conditions of the documents creating your interest in the land. 7. Materials furnished or labor performed in connection with planned construction before 3 GF No. 99- 7100617 signing and delivering the lien document described in Schedule A, if the land is part of the homestead of the owner. (Applies to the Mortgage Title Policy Binder on Interim Construction Loan only, and may be deleted if satisfactory evidence to us before a binder is issued.) 8. Liens and leases that affect the title to the land, but that are subordinate to the lien of the insured mortgage. (Applies to the Mortgagee Policy only.) 9. 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. Those liens created at closing, if any, pursuant to your instructions. b. Rights of parties in possession. (Owner Policy only.) c. Visible and apparent easements over and across subject property (Owner Policy Only). d. Rights of tenants in possession under unrecorded leases and /or rental agreements. e. Any and all matters revealed by a currently dated, on- the - ground survey acceptable to this company. f. Any portion of the property herein described which falls within the boundaries of any road or roadway. g. Reservation of all oil, gas, and other minerals, contained in Deed dated August 10, 1961, recorded in Volume 447, Page 105, Deed Records of Williamson County, Texas, executed by Missouri Pacific Railroad Company to City of Round Rock. Said mineral interest not traced subsequent to the date of the above cited instrument. 4 r SCHEDULE C GF No. 99- 7100617 Your policy will not cover loss, costs, attorney's fees, and expenses resulting from the following requirements that will appear as Exceptions in Schedule B of the Policy, unless you dispose of these matters to our satisfaction, before the date the Policy is issued: 1. Documents creating your title or interest must be approved by us, and must be signed, notarized and filed for record. 2. Satisfactory evidence must be provided that: no person occupying the land claims any interest in that land against the persons named in paragraph 3 of Schedule A, all standby fees, taxes, assessments and charges against the property have been paid, all improvements or repairs to the property are completed and accepted by the owner, and that all contractors, subcontractors, laborers and suppliers have been fully paid, and that no mechanic's, laborer's or materialmen's liens have attached to the property, there is legal right of access to and from the land. (on a Mortgagee Policy only) restrictions have not been and will not be violated that affect the validity and priority of the insured mortgage. 3. You must pay the seller or borrower the agreed amount for your property or interest. 4. Any defect, lien or other matter that may affect title to the land or interest insured, that arises or is filed after the effective date of this Commitment. 5. Obtain written evidence of the marital status of the record owner(s) from June 22, 1953 to date. If the subject property is home we require the joinder of the grantor's spouse in any conveyance or encumbrance(s), or in the alternative, we require the execution of a Homestead Designation and Disclaimer by both parties. 6. Secure a staked survey to be conducted, on the ground, and prepared by a Registered Professional Land Surveyor acceptable to Fidelity National Title Insurance Company, together with a full property (metes and bounds) description based thereon and submit for approval. 7. "The policy(ies) anticipated by this Commitment contain provisions relative to the use of Arbitration in the settlement of claims. These provisions may be deleted without cost upon written request by the insured prior to the issuance of the policy(ies). 5 4 GF No. 99- 7100617 8. Note to all Buyers, Sellers, Borrowers, Lenders and all parties having a vested interest in the transaction covered by this Commitment. The following constitutes a MAJOR CHANGE in the procedures and requirements for disbursement of funds by the Title Agent pursuant to this transaction: Effective August 1, 1988, the State Board of Insurance has adopted Procedural Rule P -27 which will require that "Good Funds" be received and deposited before a Title Agent may disburse from its Trust Fund account. "Good Funds" is defined as; (1) Cash or Wire Transfers; (2) Certified funds, including certified checks and cashiers checks; (3) Uncertified funds in amounts less than 81,500.00, including checks, travelers checks, money orders and negotiable orders of withdrawal; provided multiple items shall not be used to avoid the 51,500.00 limitation; and (4) Uncertified funds in amounts of 81,500.00 or more, drafts, and any other item when collected by the Financial Institution. For the benefit of all parties, The Company has adopted a policy that uncertified funds, in the aggregate, may not exceed the sum of 8500.00. Alamo Title of Travis County, Inc. By: Ann Townsend TITLE OFFICER: Diane Kirby 6 4 COMMITMENT FOR TITLE INSURANCE SCHEDULE D Pursuant to the requirements of Rule P-21, Basic Manual of Rules, Rates and Forms for the writing of Title Insurance in the State of Texas, the following disclosures are made: The following individuals are directors and /or officers of Alamo Title Insurance: OFFICERS DIRECTORS William P. Foley, 11, Chairman of the Board William P. Foley, II Darryl J. Tyson, Chief Operating Officer Patrick F. Stone Don H. Still, President Ronald R. Maudsley Andrew F. Puzder, Executive Vice President Alan L. Stinson M'Liss Jones Kane, Secretary and Senior Vice President Frank P. Willey Alan L. Stinson, Treasurer, Chief Financial Officer ALAMO TITLE OF TRAVIS COUNTY, INC. DBA ALAMO TITLE COMPANY 2. The following disclosures are made by the Title Insurance Agent Issuing this Commitment: You are further advised that the estimated title premium * is: to other parties as follows: AMOUNT TO WHOM FOR SERVICE This Commitment is invalid unless the insuring provisions and Schedules A, B and C are attached. GF No. 99- 7100617 3. You are entitled to receive advance disclosure of settlement charges in connection with the proposed transaction to which this Commitment relates. Upon your request, such disclosure will be made to you. Additionally, the name of any person, firm or corporation receiving any sum from the settlement of this transaction will be disclosed on the closing or settlement statement. Owners Policy 84,648.00 Mortgage Policy 80.00 Endorsement Charges 80.00 Total 84,648.00 Of this total amount: 84,648.00 % 100 will be paid to the policy issuing Title Insurance Company: $ will be retained by the issuing Title Insurance Agent; and the remainder of the estimated premium will be paid The estimated premium is based upon information furnished to us as of the date of this Commitment for Title Insurance. Final determination of the amount of the premium will be made at closing in accordance with the Rules and Regulations adopted by the State Board of Insurance. ALAMO Tale- SCHEDULE 0 GF No. 99- 7100617 IMPORTANT NOTICE FOR INFORMATION, OR TO MAKE A COMPLAINT CALL OUR TOLL -FREE TELEPHONE NUMBER (800) 654 -7041 ALSO YOU MAY CONTACT THE TEXAS DEPARTMENT OF INSURANCE AT 1- 800 - 252 -3439 to obtain information on: 1. filing a complaint against an insurance company or agent, 2. whether an insurance company or agent is licensed, 3. complaints received against an insurance company or agent, 4. policyholder rights, and 5. - a list of consumer publications and services available through the Department. YOU MAY ALSO WRITE TO THE TEXAS DEPARTMENT OF INSURANCE P.O. BOX 149104 AUSTIN, TEXAS 78714 -9104_ FAX NO. (512) 475 -1771 AVISO IMPORTANTE PARA INFORMACION, 0 PARA SOMETER UNA QUEJA LLAME AL NUMERO GRATIS (800) 654 -7041 TAMBIEN PUEDE COMUNICARSE CON EL DEPARTAMENTO DE SEGUROS DE TEXAS AL 1- 800 - 252 -3439 para obtener information sobre: 1. como someter una queja en contra de una compania de seguros o agente de seguros, 2. si una compania de seguros o agente de seguros tiene licencia, 3. quejas recibidas en contra de una compania de seguros o agente de seguros, 4. los derechos del asegurado, y 5. una lista de publicaciones y servicios para consumidores disponibles a traves del Departamento. TAMBIEN PUEDE ESCRIBIR AL DEPARTAMENTO DE SEGUROS DE TEXAS P.0..BOX 149104 AUSTIN, TEXAS 78714 -9104 FAX NO. (512) 475 -1771 SIGNATURE DATE GF No. 99- 7100617 DELETION OF ARBITRATION PROVISION (Not applicable to the Texas Residential Owner Policy) ARBITRATION is a common form of alternative dispute resolution. It can be a quicker and cheaper means to settle a dispute with your Title Insurance Company. However, if you agree to arbitrate, you give up your right to take the Title Company to court and your rights to discovery of evidence may be limited in the arbitration process. In addition, you cannot usually appeal an arbitrator's award. Your policy contains an arbitration provision (shown below). It allows you or the Company to require arbitration if the amount of insurance is $1,000,000 or less. If you want to retain your right to sue the Company in case of a dispute over a claim, you must request deletion of the arbitration provision before the policy is issued. You can do this by signing this form and returning it to the Company at or before the closing of your real estate transaction or by writing to the Company. The Arbitration provision in the Policy is as follows: "Unless prohibited by applicable law or unless thiq arbitration section is deleted by specific provision in Schedule B of this policy, either the Company or the Insured may demand arbitration pursuant to the Title Insurance Arbitration Rules .pf the American Arbitration Association. Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the Insured arising out of or relating to this Policy, and service of the Company in connection with its issuance or the breach of a policy provision or other obligation. All arbitrable matters when the Amount of Insurance is 51,000,000 or less SHALL BE arbitrated at the request of either the Company or the Insured, unless the insured is an individual person (as distinguished from a corporation, trust, partnership, association or other legal entity). All arbitrable matters when the Amount of Insurance is in excess of S1,000,000 shall be arbitrated only when agreed to by both the Company and the Insured. Arbitration pursuant to this Policy and under the Rules in effect on the date the demand for arbitration is made or, at the option of the Insured, the rules in effect at the Date of Policy shall be binding upon the parties. The award may include attorney's fees only if the laws of the state in which the land is located permit a court to award attorneys' fees to a prevailing party. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court having jurisdiction thereof. The law of the situs of the land shall apply to an arbitration under the Title Insurance Arbitration Rules. A copy of the Rules may be obtained from the Company upon request." I request deletion of the Arbitration provision. RESOLUTION NO. R- 99- 11- 09 -10E1 WHEREAS, the City of Round Rock desires to purchase approximately 2.61 acres of land, and WHEREAS, Garfield McConico and wife, Petronella McConico, the owners of the property, desire to sell the property to the City of Round Rock, 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 Garfield McConico and wife, Petronella McConico for the purchase of the above described property, a copy of said Real Estate Contract being attached hereto and incorporated herein for all purposes. The City Council hereby finds and declares that written notice of the date, hour, place and subject of the meeting at which this Resolution was adopted was posted and that such meeting was open to the public as required by law at all times during which this Resolution and the subject matter hereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act, Chapter 551, Texas Government Code, as amended, and the Act. RESOLVED this 9th day of No LAND, City Secretary K:\ WPDOCS \RESOLUTI \R911O9E1.WPD /ecg 9 9 . Rom RT A. STLUKA, 4. , Mayor City of Round Rock, Texas State of Texas County of Williamson REAL ESTATE CONTRACT THIS CONTRACT OF SALE ( "Contract ") is made by and between GARFIELD MCCONICO and wife, PETRONELLA MCCONICO, 200 S. Brown Street, Round Rock, Williamson County, Texas, 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 2.61 acres of land situated in Williamson County, Texas, being more particularly described as follows: 1.67 acres being Lots 12 -21, Block 3, City of Round Rock and 0.94 acres, Track 5, Wiley Harris Survey, Abstract No. 298, also known as Part of Block 3, City of Round Rock, Williamson County, Texas, (correct legal description will be determined from the survey provided for in this Contract); together with all and singular the rights and appurtenances pertaining to the property, including any right, title and interest of Seller in and to adjacent streets, alleys or rights -of -way (all of such real property, rights, and appurtenances being referred to in this Contract as the "Property "), together with any improvements, fixtures, and personal property situated on and attached to the Property, for the consideration and upon and subject to the terms, provisions, and conditions set forth below. 2.01. The purchase price for the Property shall be the sum of Six Hundred Eighty -two Thousand One Hundred Forty -nine and 60/100 Dollars ($682,149.60). Notwithstanding the foregoing, if the survey of the Property to be furnished by Seller to Purchaser, as provided below, reflects that the number of square feet comprising the Property is more or less than C. \WPOOCS \ACITY \MCC — BRAD \MCCONICO.WPD /sls ARTICLE II PURCHASE PRICE Amount of Purchase Price 1 113,691.60, the purchase price is to be increased or reduced by the product of $ 6.00 times the number of square feet of the Property more or less than 113,691.60. Payment of Purchase Price 2.02. The Purchase Price shall be paid in cash at the closing. 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. Within thirty (30) days after the date hereof, Seller, at Seller's sole cost and expense, shall have caused the title company to issue a preliminary title report (the "Title Commitment ") accompanied by copies of all recorded documents relating to easements, rights -of -way, etc., affecting the Property. Purchaser shall give Seller written notice on or before the expiration of ten (10) days after Purchaser receives the Title Commitment that the condition of title as set forth in the title binder is or is not satisfactory, and in the event Purchaser states that the condition is not satisfactory, Seller shall promptly undertake to eliminate or modify all unacceptable matters to the reasonable satisfaction of Purchaser. In the event Seller is unable to do so within ten (10) days after receipt of written notice, this Contract shall thereupon be null and void for all purposes and the Escrow Deposit shall be forthwith returned by the title company to Purchaser. Purchaser's failure to give Seller this written notice shall be deemed to be Purchaser's acceptance of the Title Commitment. Survey 3.03. Within thirty (30) days from the date hereof, Seller, at Seller's sole cost and expense, shall cause to be delivered a current plat of survey of the Property, prepared by a duly licensed Texas land surveyor acceptable to Purchaser. The survey shall be staked on the ground, and the plat shall show the location of all improvements, highways, streets, roads, railroads, rivers, creeks, or other water courses, fences, easements, and rights -of -way on or adjacent to the Property, if any, and shall contain the surveyor's certification that there are no encroachments on the property and 2 shall set forth the number of total acres comprising the Property, together with a metes and bounds description thereof. New Surveys and Tests 3.04. Within sixty (60) days after the date hereof Purchaser is granted the right to conduct an engineering survey and feasibility study of the Property, and in this connection Purchaser or Purchaser's designated agents may enter upon the premises for purposes of soil analysis, core drilling, environmental survey, or other tests which may be deemed necessary to Purchaser or Purchaser's engineer. If it should be determined by Purchaser in Purchaser's sole judgment that the Property is not suitable for the intended purposes, then and in this event, Purchaser may, on written notice to Seller received prior to seventy -five (75) days from the date hereof, terminate this Contract and it shall be null and void for all purposes and the Escrow Deposit shall be forthwith returned by the title company to Purchaser. If the written notice is not received within this 75 day period, the condition shall be deemed to be acceptable and any objection thereto shall be deemed to have been waived for all purposes. Bradley Transaction 3.05. The closing of this transaction shall be conditioned on and simultaneous with the closing of a contract for the purchase of the following described tract on terms and conditions that are acceptable to Purchaser in its sole judgment: 1.08 acres out of the Wiley Harris Survey, Abstract No. 298, also known as Block 5, Original Plat of City of Round Rock and also known as 202 North Harris Street, City of Round Rock, Williamson County, Texas, owned by Henry A. Bradley, Jr. Miscellanous Conditions 3.06. Seller shall have performed, observed, and complied with all of the covenants, agreements, and conditions required by this Contract to be performed, observed, and complied with by Seller prior to or as of the closing. ARTICLE IV CLOSING The closing shall be held at the office of Alamo Title, 1717 N. I.H. 35, Round Rock, Texas, on or before March 31, 2000, or at such time, date, 3 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: (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 Alamo 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. 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. 4 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 Seller; Survey paid by Seller; 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 It is understood and agreed that there are no brokers involved in the negotiation and consummation of this Contract. 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 Alamo Title Company, the sum of One Thousand Dollars ($l,000), the Escrow Deposit, which shall be paid by the title company to Seller in the event Purchaser breaches this Contract as provided in Article 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. 5 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 6 (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. 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. nt WOVEmfga Dated this 1 day of eebeiner, 1999. SELLER: GARFIELD MC4ONICO f l L'"(!! 46 :47:. iL /) I `r PETRONELLA MCCONICO 200 S. Brown St. Round Rock, Texas 78664 7 GARFIELD MCCONICO PETRONELLA MCCONICO 200 S. Brown Street Round Rock, Texas 78664 PURCHASER: 8 Addendum 221 E. Main Street Round Rock, Texas 78664 1) Seller has the option to lease their residence for a period of three months after closing at the rent of $600 per month, beginning August 1, 2000 and ending October 31, 2000. 2) In addition to the purchase price, Purchaser shall pay Seller's actual moving expense up to a maximum of $2,000.00 3) Prior to closing, Seller shall have the right to remove the following items of personal property: electric stoves, air conditioners and heaters. SELLER: PURCHASER: CI ' • • U ROCK, TEXAS 4 .Tri 4 e o -rt A. Stluka, Jr., if 221 E. Main Street Round Rock, Texas 78664 DATE: November 5, 1999 SUBJECT: City Council Meeting — November 9, 1999 ITEM: 10.E.1. Consider a resolution authorizing the Mayor to execute a Real Estate contract with G. W. McConico and Petrenella McConico for the purchase of approximately 2.61 acres of land. Staff Resource Person: Bob Bennett, City Manager.