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CM-09-05-099N. Mays—parcel 7 REAL ESTATE CONTRACT North Mays Improvement Project State of Texas County of Williamson THIS REAL ESTATE CONTRACT ("Contract") is made by and between STAG III ROUND ROCK L.P., A DELAWARE LIMITED PARTNERSHIP, (referred to in this Contract as "Seller", whether one or more) and the CITY OF ROUND ROCK, 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(s) of land described as follows ("Property"): All of that certain 0.224 acre tract of land, more or less, situated in the David Curry Survey, Abstract No. 130, in Williamson County, Texas; being more fully described by metes and bounds or shown in Exhibit "A", attached hereto and incorporated herein (Parcel 7); and A temporary construction easement interest in and to an approximately 1230 square foot tract of land, more or less, situated in the David Curry Survey, Abstract No. 130, in Williamson County, Texas; being more particularly described on the Plan and Profile sheets attached hereto as Exhibit "B". This purchase also includes any improvements and fixtures situated on and attached to the Property which are not removed by Seller, for the consideration and upon and subject to the terms, provisions, and conditions set forth below. ARTICLE II PURCHASE PRICE AND ADDITIONAL COMPENSATION Amount of Purchase Price 2.01. The purchase price for the Property shall be the sum of FORTY FOUR THOUSAND NINE HUNDRED THIRTY FOUR and 00/100 Dollars ($44,934.00). 2.01.1. As additional compensation Purchaser shall pay the amount of FOUR THOUSAND SEVEN HUNDRED NINETY SEVEN and 00/100 Dollars ($4,797.00) for any improvements located on the Property. O:\wdox\SCClnts\0199\7047\REALESTATE\00155825.DOC 0,1\i�t•o5-Dim ARTICLE IV REPRESENTATIONS AND WARRANTIES OF SELLER Seller hereby represents and warrants to Purchaser as follows, which representations and warranties shall be deemed made by Seller to Purchaser also as of the closing date, to the best of Seller's knowledge: (1) There are no parties in possession of any portion of the Property as lessees, tenants at sufferance, or trespassers, other than as previously disclosed; (2) Seller has complied with all applicable laws, ordinances, regulations, statutes, rules and restrictions relating to the Property, or any part thereof; The Property herein is being conveyed to Purchaser under threat of condemnation. ARTICLE V CLOSING Closing Date 5.01. The closing shall be held at the Title Company on or before January 15, 2009, or at such time, date, and place as Seller and Purchaser may agree upon, or within 10 days after the completion of any title curative matters if necessary for items as shown on the Title Commitment (which date is herein referred to as the "closing date"). Seller's Obligations at Closing 5.02. At the closing Seller shall: (1) Deliver to Purchaser a duly executed and acknowledged Special Warranty Deed conveying good and marketable title to all of the Property as shown in Exhibit "A", free and clear of any and all liens and encumbrances, except for the following: (a) General real estate taxes for the year of closing and subsequent years not yet due and payable; (b) Any exceptions approved by Purchaser pursuant to Article III hereof; and (c) Any exceptions approved by Purchaser in writing. (2) If requested, deliver to Purchaser a Texas Owner's Title Policy at Purchaser's sole expense, issued by Title Company, in Purchaser's favor in the full amount of the purchase price, insuring Purchaser's drainage easement interest to the Property subject only to those title exceptions listed herein, such other exceptions as may be 3 (3) approved in writing by Purchaser, and the standard printed exceptions contained in the usual form of Texas Owner's Title Policy, provided, however: (a) The boundary and survey exceptions shall be deleted; (b) The exception as to restrictive covenants shall be endorsed "None of Record;" and (c) The exception as to the lien for taxes shall be limited to the year of closing and shall be endorsed "Not Yet Due and Payable." Deliver to Purchaser possession of the Property if not previously done. Purchaser's Obligations at Closing 5.03. At the Closing, Purchaser shall pay the cash portion of the purchase price. Prorations 5.04. If required, general real estate taxes for the then current year relating to the Property shall be prorated as of the closing date and shall be adjusted in cash at the closing. If the closing shall occur before the tax rate is fixed for the then current year, the apportionment of taxes shall be upon the basis of the tax rate for the next preceding year applied to the latest assessed valuation. All special taxes or assessments to the closing date shall be paid by Seller. Agricultural roll -back taxes, if any, shall be paid by Purchaser. Closing Costs 5.05. All costs and expenses of closing in consummating the sale and purchase of the Property shall be borne and paid as follows: (1) Owner's Title Policy and survey to be paid by Purchaser. (2) Deed, tax certificates, and title curative matters, if any, paid by Purchaser. (3) All other closing costs shall be paid by Purchaser. (4) Attorney's fees paid by each respectively. 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 Title Company the sum of Five Hundred Dollars ($500.00), the Escrow Deposit, which shall be paid by the title company to Seller in the event 4 Purchaser breaches this Contract as provided herein. 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; or (2) 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 shall have the right to receive the Escrow Deposit from the title company, the sum being agreed on as liquidated damages for the failure of Purchaser to perform the duties, liabilities, and obligations imposed upon it by the terms and provisions of this Contract, and Seller agrees to accept and take this cash payment as its total damages and relief and as Seller's sole remedy hereunder in such event. ARTICLE IX MISCELLANEOUS Notice 9.01. 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 9.02. 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. 5 Parties Bound 9.03. 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 9.04. 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 9.05. 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 9.06. Time is of the essence in this Contract. Gender 9.07. 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 9.08. Upon request of either party, both parties shall promptly execute a memorandum of this Contract suitable for filing of record. Compliance 9.09 In accordance with the requirements of Section 20 of the Texas Real Estate License Act, Purchaser is hereby advised that it should be furnished with or obtain a policy of title insurance or Purchaser should have the abstract covering the Property examined by an attorney of Purchaser's own selection. 6 Possession and Use Agreement 9.10 If necessary for beginning of the roadway project contemplated to be constructed upon the Property, Seller agrees to allow Purchaser to use and possess the Property for the purpose of relocating utilities and constructing or improving a public road and related facilities, upon full execution of this contract. Purchaser agrees to execute a separate Possession and Use Agreement document suitable for recording if requested by Purchaser. Effective Date 9.11 This Contract shall be effective as of the date it is approved by the City of Round Rock, which date is indicated beneath the City's signature below. SELLER: STAG III ROUND ROCK, L.P., A Delawar imited Partnership By: Stephen C. Mecke Authorized Officer Its: Date: 5'S -a7 PURCHASER: CITY OF ROUND ROCK By: 221 E. MAIN STREET ROUND ROCK, TEXAS 78664 Date: s 1 ) 7 Address: 9 CNRun+ci S r t3c}S Tcry MA 0 2- t L PROJECT: NORTH MAYS STREET PARCEL: 7 COUNTY: WILLIAMSON OWNER: CITY OF ROUND ROCK EXHIBIT A PROPERTY DESCRIPTION Page 1 of 5 DESCRIPTION OF A 0.224 ACRE (9,763 SQUARE FOOT), TRACT OF LAND SITUATED IN THE DAVID CURRY SURVEY, ABSTRACT NO. 130, IN WILLIAMSON COUNTY, TEXAS, BEING A PORTION OF LOT 2A, BLOCK "A", REPLAT OF AMANDA SUBDIVISION LOT 2 & 3 BLOCK "A", ACCORDING TO THE PLAT THEREOF RECORDED IN CABINET K, SLIDES 29-30 OF THE PLAT RECORDS OF WILLIAMSON COUNTY, TEXAS, AND BEING A PORTION OF THAT SAME TRACT OF LAND CONVEYED TO STAG III ROUND ROCK, L.P., BY INSTRUMENT RECORDED IN DOCUMENT NO. 2007055648 OF THE OFFICIAL PUBLIC RECORDS OF WILLIAMSON COUNTY, TEXAS, SAID 0.224 ACRE (9,763 SQUARE FOOT) TRACT OF LAND BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS: BEGINNING FOR REFERENCE at a found 1/2" iron rod in the northerly boundary line of Lot 1, Block "A", Amanda Subdivision according to the plat thereof recorded in Cabinet J, Slides 221- 222 of the Plat Records of Williamson County, Texas, 457.94 feet right of proposed North Mays Street baseline station 95+63.66, being the southeasterly comer of Lot 1, DKRC Subdivision according to the plat thereof recorded in Cabinet M, Slides 9-10 of the Plat Records of Williamson County, Texas, and the southwesterly corner of Lot 2-A , AmorRon Park II Lot 1 & DKRC Subdivision Lot 2 according to the plat thereof recorded in Cabinet M, Slides 59-60 of the Plat Records of Williamson County, Texas; THENCE, with the southerly boundary line of said Lot 2-A , AmorRon Park II Lot 1 & DKRC Subdivision Lot 2, N 69°45'55" E, passing at a distance of 40.67 feet, a calculated point, being the northeasterly corner of said Lot 1, Block "A", Amanda Subdivision and the northwesterly corner of said Lot 2A, Block "A", Replat of Amanda Subdivision Lot 2 & 3 Block "A", and continuing for a total distance of 437.19 feetto a set 1/2" iron rod with aluminum cap stamped C.O.R.R. in the proposed curving westerly right-of-way line of North Mays Street, 45.00 feet right of proposed North Mays Street baseline station 94+65.86, being the northwesterly corner and POINT OF BEGINNING of the herein described tract; PROJECT: NORTH MAYS STREET PARCEL: 7 COUNTY: WILLIAMSON OWNER: CITY OF ROUND ROCK Page 2 of 5 1) THENCE, continuing with the common boundary line of said Lot 2A, Block "A", Replat of Amanda Subdivision Lot 2 & 3 Block "A", and said Lot 2-A , AmorRon Park 11 Lot 1 & DKRC Subdivision Lot 2, same being the proposed westerly right- of-way line of North Mays Street, N 69°45'55" E for a distance of 15.96 feet to a set 1/2" iron rod with aluminum cap stamped C.O.R.R. in the existing westerly right-of-way line of Tellabs Drive (60 foot right-of-way width), as dedicated by instruments recorded in Volume 1876, page 221, Volume 1898, Page 861 and Volume 1898, Page 839 of the Official Records of Williamson County, Texas, 30.70 feet right of proposed North Mays Street baseline station 94+59.29, being the northeasterly corner of said Lot 2A, Block "A", Replat of Amanda Subdivision Lot 2 & 3 Block "A" and the southeasterly corner of said Lot 2-A , AmorRon Park 11 Lot 1 & DKRC Subdivision Lot 2, and being the northeasterly corner of the herein described tract; THENCE, departing said common boundary line and said proposed westerly right-of-way line of North Mays Street, with the easterly boundary line of said Lot 2A, Block "A", Replat of Amanda Subdivision Lot 2 & 3 Block "A", same being said existing westerly right-of-way line of Tellabs Drive, the following three (3) courses: 2) S 09°57'05" W for a distance of 9.45 feet to a calculated point at the beginning of a curve to the left; 3) Along said curve to the left, having a delta angle of 30°13'15", a radius of 360.00 feet, an arc length of 189,88 feet, and a chord which bears S 05°09'32" E for a distance of 187.69 feet to a found iron rod; 4) S 20°16'08" E for a distance of 517.29 feet to a found 1/2" iron rod, being the northeasterly corner of Lot 1, Block "A", Replat of Lot 2, Block "B", Crystal Park according to the plat thereof recorded in Cabinet 0, Slides 48-49 of the Plat Records of Williamson County, Texas, and the southeasterly corner of said Lot 2A, and being the southeasterly corner of the herein described tract; *See Surveyor's Memo to File at the closing of this description. 5) THENCE, departing said existing westerly right-of-way line of Tellabs Drive, with the common boundary line of said Lot 2A and said Lot 1, S 69°57'36" W for a distance of 14.75 feet to a set 1/2" iron rod with aluminum cap stamped C.O.R.R. in the proposed westerly right-of-way line of North Mays Street, 45.00 feet right of proposed North Mays Street baseline station 101+60.01, being the southwesterly corner of the herein described tract; THENCE, departing said common boundary line, through the interior of said Lot 2A, with the proposed westerly right-of-way line of North Mays Street, the following two (2) courses: 6) N 20°14'45" W for a distance of 480.73 feet to a set 1/2" iron rod with aluminum cap stamped C.O.R.R. at the beginning of a curve to the right, 45.00 feet right of proposed North Mays Street baseline P.T. station 96+79.28; PROJECT: NORTH MAYS STREET PARCEL: 7 COUNTY: WILLIAMSON OWNER: CITY OF ROUND ROCK Page 3 of 5 7) Along said curve to the right, having a delta angle of 26°01'00", a radius of 515.00 feet, an arc length of 233.85 feet, and a chord which bears N 07°14'15" W for a distance of 231.85 feet to a the POINT OF BEGINNING, containing 0.224 acres (9,763 square feet) of land more or less. Surveyor's Memo To File: Please note that the record north line of the Replat of Lot 2 Block "B" Crystal Park as monumented on the ground is not coincident with the monumented south line of the Replat of Amanda Subdivision. This Surveyor recognizes the monumented north line of the Replat of Lot 2 Block "B" Crystal Park as the record south line of the Replat of Amanda Subdivision and, as such, is reflected thereon in ensuing Metes and Bounds descriptions. AH bearings recited herein are based on the Texas State Plane Coordinate System, Central Zone No. 4203, NAD 83. This property description is accompanied by a separate plat. That I, M. Stephen Truesdale, a Registered Professional Land Surveyor, do hereby certify that the above description is true and correct to the best of my knowledge and belief and thatthe property described herein was determined by a survey made on the ground under my direction and supervision. WITNESS MY HAND AND SEAL at Round Rock, Williamson County, Texas. /Zi. 404 A/6,(24 M. Stephen Tru sdale Registered Professional Land Surveyor No. 4933 Licensed State Land Surveyor Inland Geodetics, L.P. 1504 Chisholm Trail Road Suite 103 Round Rock, TX 78681 512-238-1200 /5Hif7 ©0 Date R.O.W VOL 1876, PG. 221 AMORRON PARK IIO.R.W.C.T. 15' •J'ExA,- POWER t5. STA. 94+59.29 LOT I a ,....' `GHT Es),ASEMENT 30.70 RT VOL,111-15, PG *215 P.C. y u.K.W.C.T. \• PARCEL 7 94+ 2.74 DKRC SUBDIVISION P.O.B. LOT 2 LOT 2A CAB. M. SLD. 59-60 (6.996 AC.) P.R.W.C.T. 15, TEXAS PQWER PAACEL 7 nki STA. 95+63.66 457.94' RT LIGHT EAVENT VOL t61'' 215 --- 045 . \\_. STA. 94+65.86 N, 45.00 RT 15' SANITARY sE,W,cLR EASMENT CAB. J, SLD./.21-222 ,. Z o \ \'‘ -- .,- • .. , .•-- et 15' P DE VOL. 1800, PG 520 0 -- --, SQ DpINADE (7) Cif) ‘...r" EA Sr..MEN T O.R.W.C.I. \ ,, CAB. ,.! SLII), 221-222 .3 1-: \ ‘.\ CAB. K 1). 29-30 P .R W.C.T. 0 \ \ .1., \\ -v) t". \ STA. 96+79.28 45.00 RT STAG III ROUND ROCK, L.P. DOC. 'NO. 2007055648 0.P.R.W.C.T. 0.224 AC. **. 9.763 SO. FT. /- / 5' P.U.E. CAB. K. SLD. 29-30 P.R.W.C.T. -0 -o 0 w 25 0 • N S 50 E 100 SCALE 1" =100' CAB. K. SLD. 29-30 P.R.W.C.'T. 90 0 DRAINAGE EASEMENT CAB. K. SLD. 29-30 P.R.W.C.I LOT 1, BLOCK"A" \ \, AMANDA SUBDIVISION \ CAB. J, SLD. 221-222 \ P.R.W.C.T. PLATTED_SOUTH LINE OF REPLAT OF AMANDA SUBQIVISION LOT 2 AND 3 BLOCK A", RECORDED IN CAB. K, SLD. 29-30 P.R.W.C.T. PLATTED NORTH LINE OF REPLAT OF LOT 2, BLOCK "B" CRYSTALPARK RECORDED IN CAB. 0, SLD. 48-49 P.R.W.C.T. REPLAT OF AMANDA SUBDIVISION LOT 2 a 3 BLOCK "A" CAB. K. SLD. 29-30 P.R. W.C. T. \ 30' T.P.8*. VOL {6-7, PG 906 0.R W.C.T. DAVID CURRY SURVEY ABSTRACT NO. 130 \ VOL 1 R.O.W.13. 1 G. 8 ().R.W.C. T. LOT 2A (5.8417 AC.) BLOCK A 30' TEXAS POWER B- LIGHT. EASEMENT VOL.. 1615. G. 215 O.R.VV.C.T. R.0 W VOL 1898, PG. 839 O.R.W.C.I., 15' 0.E' 0. SLD. 48-49 P.R.W.0 T ST„Arri(11+60.01 25DRAINAGE EASEMENT CAB K. SLD. 29-30 CAB PRWCT N. i5' ;TEXAS PpwER ! EASt Mt. NT VOL. 1615, P6. 215 \ 1 N ILAN C) EL GEODETICS 1 LAND SURVEYORS 1504 CHISHOLM TRAIL RD. STE. 103 ROUND ROCK, TX. 78681 PH. (512)238-1200, FAX (512) 238-1251 .RE -PLAT OF ,--COT 2 BLOCK B it CRYSTAL PARK , AC') CAB. 0, SLDS. 48-49 VUL 0 CK A P.R.W.C.T. PAGE 4 OF 5 RIGHT OF WAY SKETCH PARCEL 7 1• LEGEND • 1/2" IRON ROD FOUND O 1/2 " IRON ROD SET W/ ALUMINUM CAP STAMPED CORR QQ TXDOT TYPE I 1 CONCRETE MONUMENT W/ BRASS DISK FOUND ® IRON ROD W/PLASTIC CAP FOUND LI CALCULATED POINT E PROPERTY LINE ( )RECORD INFORMATION P.O.R. POINT OF REFERENCE P.O.B. POINT OF BEGINNING O.P.R.W.C.T. OFFICIAL PUBLIC RECORDS WILLIAMSON COUNTY, TEXAS O.R.W.C.T. OFFICIAL RECORDS WILLIAMSON COUNTY, TEXAS P.R.W.C.T. PLAT RECORDS WILLIAMSON COUNTY, TEXAS NO. BEARING DISTANCE LI N 69°45'55" E 15.96' L2 S 09°57'05" W 9.45' (L2) (S 11°20'14" W) (9.33') L3 S 69°57'36" W 14.75' NUMBER DELTA ANGLE RADIUS ARC LENGTH CHORD LENGTH CHORD DIRECTION CI 30°13'15" 360.00' 189.88' 187.69' S 05009'32" E (CI) (30°13'15") (360.00') (169.88') (187.69') (S 03°46'23" E) C2 26°01'00" 515.00' 233.85' 231.85' N 07°14'15" W NOTES: ALL BEARINGS ARE BASED ON GRID BEARINGS. DISTANCES ARE SURFACE DISTANCES. COORDINATES ARE SURFACE VALUES BASED ON THE TEXAS STATE PLANE COORDINATE SYSTEM, NAD 83, CENTRAL ZONE, USING A COMBINED SURFACE ADJUSTMENT FACTOR OF 1.00012. THIS SURVEY WAS PERFORMED WITHOUT THE BENEFIT OF A TITLE REPORT. THERE MAY BE EASEMENTS OR OTHER INSTRUMENTS PERTAINING TO THIS PROPERTY THAT ARE NOT SHOWN HEREON. I HEREBY CERTIFY THAT THIS SURVEY WAS MADE ON THE GROUND UNDER MY DIRECTION AND SUPERVISION AND THAT THIS PLAT IS TRUE AND CORRECT TO THE BEST OF MY KNOW + E AND BELIEF. 7-) to -t ezd M. STEP' EN IUESDALE REGISTERED PROFESSIONAL LAND SURVEYOR NO. 4933 LICENSED STATE LAND SURVEYOR I1504 INLAND 6L GEODETICS PROFESSIONAL LAND SURVEYORS CHISHOLM TRAIL RD. STE. 103 ROUND ROCK, TX. 78681. PH. (512) 238-1200, FAX (S12) 238-1251 RIGHT OF WAY SKETCH PARCEL 7 PAGE 5 OF 5 FIE, IFIE{ .Jr, *OWES TOS. *meg b N 0 O O O t0 07 O O O O O 0 0 N N N O 757, 34 756. 69 757.47 157.47 ' 758. 51 756.15 780.10 759.62 762.01 _ 761.80 BEGIN PROF IIE VPI 510 • 9740. 00 VPI EL. • 75114r a fl 5 O 9 AO 2 133Hs 133211S sAdrI z m z MATCH LINE STA 100.50.00 EXHIBIT 1 13' �� 9� oA 64.84* LZ - - -- - --- - --- 00 -_•. �wx SCALE, i' ZO' a.. i DATE: 5/21/2009 SUBJECT: City Manager Approval — 5/29/2009 ITEM: Consider executing a real estate contract with STAG 111 Round Rock, L.P. for the purchase of right of way required for the N. Mays improvement. Department: Legal Staff Person: Don Childs Justification: Completion of N. Mays roadway project Funding: Cost: Source of funds: Outside Resources: $49,731 Background Information: This is a request for execution of a contract to acquire 0.224 acre of land in fee, and a 1230 square foot temporary construction easement, and associated improvements necessary for the widening of N. Mays. The original appraised value for the fee taking only was $48,979. The temporary construction easement acquisition was added later, and we reached an agreement for an additional payment of $752 for this property right. The City Attorney recommends this for approval. Public Comment: 0:\wdox\SCCInts\0199\7047\REALESTATE\00160524.DOC