R-04-06-24-17C2 - 6/24/2004RESOLUTION NO. R -04-06-24-17C2
WHEREAS, the City desires to purchase a 2.426 acre tract of land
for extension to the Brushy Creek Trail system, and
WHEREAS, Whitney Partnership and Forest Ridge Investments, Ltd.,
the owners of the property ("Owners"), have agreed to sell said
property to the City, 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 Owners, for the purchase
of the above described property, a copy of said Real Estate Contract.
being attached hereto as Exhibit "A" 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.
RESOLVED this 24th day of June, 2004.
L/lieCHRISTINE R. MARTINEZ, City Secr ary
NY EL , M. o
Cit of Round Rock, Texas
@PFDesktop\:: ODMA/WORLDOX/0:/WDOX/RESOLUTI/R40624C2.WPD/djc
REAL ESTATE CONTRACT
State of Texas
County of Williamson
EXHIBIT
-A
THIS REAL ESTATE CONTRACT ("Contract") is made by and between WHITNEY
PARTNERSHIP, A TEXASifrgARTNERSHIP; FOREST RIDGE INVESTMENTS, LTD.,
A TEXAS 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:
Fee simple interest in a 2.426 acre remainder tract of land situated in the Joseph Marshal
Survey, Abstract No. 409, in Williamson County, Texas, being that tract of land described as 2.4643
acres conveyed by instrument to Whitney Partnership and Forest Ridge Investments, Ltd. and recorded
in Document 9526622, of the Official Public Records of Williamson County, Texas, more fully
described by metes and bounds in Exhibit "A", attached hereto and incorporated herein; and
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"). This
purchase also includes any improvements and fixtures situated on and attached to the Property, for
the consideration and upon and subject to the terms, provisions, and conditions set forth below.
ARTICLE II
PURCHASE PRICE
Amount of Purchase Price
2.01. The purchase price for the Property shall be the sum of FIFTY SEVEN THOUSAND
and no/100 Dollars ($57,000.00).
Payment of Purchase Price
2.02. The Purchase Price shall be payable in cash at the closing.
@PFDesktop\::OOMA/WORLDOX/O:/WDOX/CORR/GNL/WHITNEYTRACf/CONTRACT/30065437_WPD/sls
ARTICLE III
PURCHASER'S OBLIGATIONS
Conditions to Purchaser's Obligations
3.01. The obligations of Purchaser hereunder to consummate the transactions 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 twenty (20) days after the date hereof, Seller, at Purchaser's sole cost and
expense, shall have caused the Alamo Title Company ("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. In the event that title to the property is not
satisfactory to Purchaser, after notice of such unsatisfactory condition Seller shall promptly undertake
to eliminate or modify all unacceptable matters to the reasonable satisfaction of Purchaser, or shall
provide Purchaser with any assistance reasonably requested as necessary to eliminate or modify such
matters. In the event Seller is unable to do so prior to the closing date or by other date as agreed to
between the parties, Purchaser may terminate this Contract and it shall thereupon be null and void for
all purposes and the Escrow Deposit shall be forthwith returned by the title company to Purchaser,
as provided in Article VII.
Survey
3.03. Within ten (10) days from the date hereof, Purchaser, at Purchaser'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. 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 shall set forth the number
of total acres comprising the Property, together with a metes and bounds description thereof.
If any portion of the survey is unacceptable to Purchaser, then Purchaser shall give Seller
notice of this fact. Seller shall promptly undertake to eliminate or modify all the unacceptable portions
to the reasonable satisfaction of Purchaser. In the event Seller is unable to do so prior to the closing
date or by other date as agreed to between the parties, Purchaser may terminate this Contract and the
Contract shall thereupon be null and void for all purposes and the Escrow Deposit shall be returned
by the title company to Purchaser, as provided in Article VII.
2
Miscellaneous Conditions
3.04. Seller shall have performed, observed, and complied with all of the covenants,
agreements, and conditions required by this Contract to be performed, observed, and complied
with by Seller prior to or as of the closing.
ARTICLE IV
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;
(2) Seller has complied with all applicable laws, ordinances, regulations, statutes, rules
and restrictions relating to the Property, or any part thereof;
(3) 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 July 22, 2004, 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 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:
(a) General real estate taxes for the year of closing and subsequent years not yet due
and payable;
3
(b) Any exceptions approved by Purchaser pursuant to Article III hereof; and
(c) Any exceptions approved by Purchaser in writing.
(2) 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 fee simple title to the Property subject only to those title
exceptions listed herein, 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, provided, however:
(3)
(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.
Purchaser's Obligations at Closing
5.03. At the Closing, Purchaser shall pay the cash portion of the purchase price.
Prorations
5.04. 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.
4
(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 Purchaser breaches
this Contract as provided in Article IX 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; 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.
5
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.
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.
6
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.
Effective Date
9.10 This Contract shall be effective as of the date it is approved by the Round Rock City
Council, which date is indicated beneath the Mayor's signature below.
Counterparts
9.11 This Contract may be executed in any number of counterparts.
SELLER:
. UL 4L
WHITNEY PARTNERSHIP, A TEXAS •E -1441 -T -Ea PARTNERSHIP
By: /44/
Kay ey / Date
A&/A-G JA-�6eter Partner
FOREST RIDGE INVESTMENTS, LTD.
By: Forest Ridge, Inc.
General Partner of Forest
Ridge Investments, Ltd.
By:
Russell Parker
President
Date
7
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.
Effective Date
9.10 This Contract shall be effective as of the date it is approved by the Round Rock City
Council, which date is indicated beneath the Mayor's signature below.
Counterparts
9.11 This Contract may be executed in any number of counterparts.
SELLER:
WHITNEY PARTNERSHIP, A TEXAS LIMITED PARTNERSHIP
By:
Kay Whitney
General Partner
Date
FOREST RIDGE INVESTMENTS, LTD.
By: Forest Ridge, Inc.
General Partn- • of orest
Ridge Inves e . , Ltd.
7
PURCHASER:
CITY OF ROUND ROCK
By:
Nyle Maxwell, Mayor
221 E. MAIN STREET
ROUND ROCK, TEXAS 78664
Date:
8
EX TIBITA
PROPERTY DESCRIPTION
DESCRIPTION OF A 2.426 ACRE REMAINDER TRACT OF LAND
SITUATED IN THE JOSEPH MARSHAL SURVEY, ABSTRACT- NO. 409, IN
WILLIAMSON COUNTY, TEXAS, BEING THAT TRACT OF LAND
DESCRIBED AS 2.4643 ACRES CONVEYED BY INSTRUMENT TO
WHITNEY PARTNERSHIP AND FOREST RIDGE INVESTMENTS, LTD. AND
RECORDED IN DOCUMENT 9526622, OF THE OFFICIAL PUBLIC
RECORDS OF WIL LIAMSON COUNTY, TEXAS, SAID 2.426 ACRE TRACT -
BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS
FOLLOWS:
Page 1 of 2
BEGINNING at a Yz" iron rod found in the easterly boundary line of a 125.25 acre
conveyed to M. H. Freeman by instrument recorded in Volume 343 tractcRecords,of land as
iron rod also beinga Page 230 of said Public said
point in the westerly property line of Lot 19 Section 1B of the Forest Bluff
Subdivision as recorded in Cabinet N, Slide 379-380 of said Public Records and the POINT OF
BEGINNING HEREOF and from which a 1/2" iron rod found in the com
Freeman and Lot 19 bears SO4°43'16"E, a distance of 15.18 feet; mon boundary line of said
THENCE, with said Freeman easterly boundaryline bei
a distance of 628.22 feet to a 1" iron pipe � the westerly line hereof, N04°43'i6"VII, for
IC, of the Forest Bluff Subdivision as found being the southerly comer of Lot 11, Block B, Section
also being the north w�Y comer hre�rded in Cabinet O, Slide 346-347 of said Public Records and
ereof;
THENCE, with the said common boundary, line of lot 11, and
distance of 147.28 feet to a iron rod found being the 'line hereof, N35Lot36"E, for a
southeasterly
subdivision, also being an angle point in thedy corner of said Lot 11 in said
being the most northerly corner hereof; westerly boundary line of Lot 4 of said subdivision and
THENCE, with saki common boundary line of said subdivision, bei
Lot 3, Lot 2 and Lot 1 respectively and being the northeasterly westerly boundary line of Lot
courses; rterly boundary line hereof the following 4 (four)
1. S14°38'45"E, for a distance of 37.44 feet to a iron rod found being the southwesterly
said Lot 4 and also being the northwesterly comer of Lot 3, and a point for a le o corner of
ng hehereof;
2. S23°52'24"E, for a distance of 74.86 feet to a iron rod found in the southwesterly comer of
said Lot 3, and also being the northwesterly comer. of Lot 2, and an point for angle hereof;
3. S33°30'33"E, for a distance of 74.88 feet to a iron rod found in the southwesterly comer of
said Lot 2, also being a point in the northwesterly comer of Lot 1, and a point for angle hereof;
4. S49°17'14"E, for a distance of 86.95 feet to a iron rod found being the southeasterly comer of
said Lot 1 and a point for angle hereof;
Page 2 of 2
THENCE, with the easterly boundary line of Lot 1, along a curve to the right having a radius of 530.00
feet, a central angle of 10017123", an arc length of 95.18 feet and a chord which bears N33°10'S1"E
for a distance of 95.05 feet to a capped iron rod set at the terminus of Forest
Ridge Boulevard asthe
plat of said subdivision as and being a point for angle hereof, and from which an ron rod found the
northerly right-of-way line of Forest Ridge Boulevard bears N34°02'24"E at a distance of 4.79 feet;
THENCE, with the terminus right-of-way line of Forest Ridge Boulevard, S51°56'11"E, for a distance of
60.00 feet to a concrete nail set in a sidewalk at the terminus of said Forest
Ridge point of curvature in the westerly property line of Lot 31, Block Boulevard, being na
Cabinet N, Slide 379-380 of saki Public Records and also being the northwesterly duff1B, aso recorded in
comer hereof;
THENCE, with said common boundary line of said Lot 31, being
a curve to the left having a radius of 470.00 feet, angle of 12°54`44", the easterly boundary line am length of
hereof, along feet and a chord which bears S31°27'27"1 for a distance nce of 105.69 feet to an
iron rod found
being an angle point hereof.
THENCE, with said common boundary line, S25°13'47"W, at a distance of 59.67 feet pass a iron rod
found for the northwest corner of Lot 21 and southwest comer of Lot 31,at a distance of 227.30 feet
pass an iron rod found for the northwest comer of Lot 20 (being a lot of utility conveyance
per plat) and southwest comer of Lot 21,at a distance of 249.10 feet ound and access
on the
northwest corner of Lot 19 and southwest comer of Lot 20, and continuing for a total distance of 525.38
feet to the POINT OF BEGINNING and containing 2.426 acre of land.
Note: Bearings are based on Grid Bearings, distances are surface distances, and coordinates are surface
values based on the Texas State Plane Coordinate System, NAD 83, Texas Central Zone, using a
Combined Adjustment Factor of 1.00012.
This property description is accompanied by a separate plat.
I, M. Stephen Truesdale, a Registered Professional Land Surveyor,
description is true and correct to the best of my do hereby certify that the above
herein was determined by a survey made on the groundloand
belief that v gibed
supervision.
WITNESS MY HAND AND SEAL at Round Rock, Williamson County, Texas.
M. Stephen Truesdale
Registered Professional Land Surveyor No. 4933
Licensed State Land Surveyor
Inland Civil Associates, L.L.C.
206 West Main Street Suite 107
Round Rock, TX 78664
512-238-1200
31-6-6 0¢
Date
DATE: June 18, 2004
SUBJECT: City Council Meeting - June 24, 2004
ITEM: 17.C.2. Consider a resolution authorizing the Mayor to execute a Real Estate
Contract with Whitney Partnership and Forest Ridge Investments, Ltd.
for the purchase of property for the Brushy Creek Trail Project.
Department: Parks and Recreation Department
Staff Person: James Hemenes
Justification: Improvement to park facilities in Round Rock.
Funding:
Cost: $57,000.00
Source of funds: Williamson County
Outside Resources: Sheets & Crossfield, P.C.
Background Information: N/A
Public Comment: N/A
Executed
Document
Follows
REAL ESTATE CONTRACT
State of Texas
County of Williamson
THIS REAL ESTATE CONTRACT ("Contract") is made by and between WHITNEY
PARTNERSHIP, A TEXAS i f PARTNERSHIP; FOREST RIDGE INVESTMENTS, LTD.,
A TEXAS 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:
Fee simple interest in a 2.426 acre remainder tract of land situated in the Joseph Marshal
Survey, Abstract No. 409, in Williamson County, Texas, being that tract of land described as 2.4643
acres conveyed by instrument to Whitney Partnership and Forest Ridge Investments, Ltd. and recorded
in Document 9526622, of the Official Public Records of Williamson County, Texas, more fully
described by metes and bounds in Exhibit "A", attached hereto and incorporated herein; and
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"). This
purchase also includes any improvements and fixtures situated on and attached to the Property, for
the consideration and upon and subject to the terms, provisions, and conditions set forth below.
ARTICLE II
PURCHASE PRICE
Amount of Purchase Price
2.01. The purchase price for the Property shall be the sum of FIFTY SEVEN THOUSAND
and no/100 Dollars ($57,000.00).
Payment of Purchase Price
2.02. The Purchase Price shall be payable in cash at the closing.
@PFDesktop\::oDMA/WORLDOX/O:/NDOX/cORR/GNL/WHITNEYTRACT/CONTRACT/A0065437.WPD/sls
P' 21-c&-dy-17CaLI
ARTICLE III
PURCHASER'S OBLIGATIONS
Conditions to Purchaser's Obligations
3.01. The obligations of Purchaser hereunder to consummate the transactions 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 twenty (20) days after the date hereof, Seller, at Purchaser's sole cost and
expense, shall have caused the Alamo Title Company ("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. In the event that title to the property is not
satisfactory to Purchaser, after notice of such unsatisfactory condition Seller shall promptly undertake
to eliminate or modify all unacceptable matters to the reasonable satisfaction of Purchaser, or shall
provide Purchaser with any assistance reasonably requested as necessary to eliminate or modify such
matters. In the event Seller is unable to do so prior to the closing date or by other date as agreed to
between the parties, Purchaser may terminate this Contract and it shall thereupon be null and void for
all purposes and the Escrow Deposit shall be forthwith returned by the title company to Purchaser,
as provided in Article VII.
Survey
3.03. Within ten (10) days from the date hereof, Purchaser, at Purchaser'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. 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 shall set forth the number
of total acres comprising the Property, together with a metes and bounds description thereof.
If any portion of the survey is unacceptable to Purchaser, then Purchaser shall give Seller
notice of this fact. Seller shall promptly undertake to eliminate or modify all the unacceptable portions
to the reasonable satisfaction of Purchaser. In the event Seller is unable to do so prior to the closing
date or by other date as agreed to between the parties, Purchaser may terminate this Contract and the
Contract shall thereupon be null and void for all purposes and the Escrow Deposit shall be returned
by the title company to Purchaser, as provided in Article VII.
2
Miscellaneous Conditions
3.04. Seller shall have performed, observed, and complied with all of the covenants,
agreements, and conditions required by this Contract to be performed, observed, and complied
with by Seller prior to or as of the closing.
ARTICLE IV
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;
(2) Seller has complied with all applicable laws, ordinances, regulations, statutes, rules
and restrictions relating to the Property, or any part thereof;
(3) 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 July 22, 2004, 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 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:
(a) General real estate taxes for the year of closing and subsequent years not yet due
and payable;
3
(b) Any exceptions approved by Purchaser pursuant to Article III hereof; and
(c) Any exceptions approved by Purchaser in writing.
(2) 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 fee simple title to the Property subject only to those title
exceptions listed herein, 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, 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."
(3) Deliver to Purchaser possession of the Property.
Purchaser's Obligations at Closing
5.03. At the Closing, Purchaser shall pay the cash portion of the purchase price.
Prorations
5.04. 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.
4
(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 Purchaser breaches
this Contract as provided in Article IX 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; 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.
5
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.
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.
6
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.
Effective Date
9.10 This Contract shall be effective as of the date it is approved by the Round Rock City
Council, which date is indicated beneath the Mayor's signature below.
Counterparts
9.11 This Contract may be executed in any number of counterparts.
SELLER:
WHITNEY PARTNERSHIP, A TEXAS 4JMI &PARTNERSHIP
By:
Gam// 3�'2 jO��
Kay "'ney / Date
pi AAIk-G )/J6 Ce craF Partner
FOREST RIDGE INVESTMENTS, LTD.
By: Forest Ridge, Inc.
General Partner of Forest
Ridge Investments, Ltd.
By:
Russell Parker
President
Date
7
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.
Effective Date
9.10 This Contract shall be effective as of the date it is approved by the Round Rock City
Council, which date is indicated beneath the Mayor's signature below.
Counterparts
9.11 This Contract may be executed in any number of counterparts.
SELLER:
WHITNEY PARTNERSHIP, A TEXAS LIMITED PARTNERSHIP
By:
Kay Whitney
General Partner
Date
FOREST RIDGE INVESTMENTS, LTD.
By: Forest Ridge, Inc.
General Partn
Ridge Inves
By:
f
Rus ell i arker / Date
Pres deVit
orest
Ltd.
3-3/
7
PURCHASER:
CITY OF ROUND ROCK
Bv:
41,
,# '1e we ,
221 E. MAIN STREET
ROUND ROCK, TEXAS 78664
Date: _' / tel
-
8
Page 1 of 2
EXHIBIT it\
PROPERTY DESCRIPTION
DESCRIPTION OF A 2.426 ACRE REMAINDER TRACT OF LAND
SITUATED IN THE JOSEPH MARSHAL SURVEY, ABSTRACT NO. 409, IN
WILLIAMSON COUNTY, TEXAS, BEING THAT TRACT OF LAND
DESCRIBED AS 2.4643 ACRES CONVEYED BY INSTRUMENT TO
WHITNEY PARTNERSHIP AND FOREST RIDGE INVESTMENTS, LTD. AND
RECORDED IN DOCUMENT 9526622, OF THE OFFICIAL PUBLIC
RECORDS OF WILLIAMSON COUNTY, TEXAS, SAID 2.426 ACRE TRACT
BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS
FOLLOWS:
BEGINNING at a 1/2" iron rod found in the easterly boundary line of a 125.25 acre tract of land as
conveyed to M. H. Freeman by instrument recorded in Volume 343 Page 230 of saki Public Records, saki
iron rod also being a point in the westerly property line of Lot 19 Section 1B of the Forest Bluff
Subdivision as recorded in Cabinet N, Slide 379-380 of said Public Records and the POINT OF
BEGINNING HEREOF and from which a 1/2" iron rod found in the common boundary line of said
Freeman and Lot 19 bears SO4°43'16"E, a distance of 15.18 feet;
THENCE, with said Freeman easterly boundary line, being the westerly line hereof, N04°43'16"W, for
a distance of 628.22 feet to a 1" iron pipe found being the southerly corner of Lot 11, Block B, Section
1C, of the Forest BIuff Subdivision as recorded in Cabinet 0, Slide 346-347 of said Public Records and
also being the northwesterly corner hereof;
THENCE, with the said common boundary line of lot 11, and northerly line hereof, N35°01'36"E, for a
distance of 147.28 feet to a iron rod found being the southeasterly comer of said Lot 11 in said
subdivision, also being an angle point in the westerly boundary line of Lot 4 of said subdivision and
being the most northerly corner hereof;
THENCE, with said common boundary line of said subdivision, being the westerly boundary line of Lot 4,
Lot 3, Lot 2 and Lot 1 respectively and being the northeasterly boundary line hereof the following 4 (four)
courscs;
1. S14°38'45"E, for a distance of 37.44 feet to a iron rod found being the southwesterly comer of
said Lot 4 and also being the northwesterly corner of Lot 3, and a point for angle hereof;
2. S23°52'24"E, for a distance of 74.86 feet to a iron rod found in the southwesterly comer of
said Lot 3, and also being the northwesterly corner of Lot 2, and an point for angle hereof;
3. S33°30'33"E, for a distance of 74.88 feet to a iron rod found in the southwesterly comer of
said Lot 2, also being a point in the northwesterly corner of Lot 1, and a point for angle hereof;
4. 549°17'14"E, for a distance of 86.95 feet to a iron rod found being the southeasterly comer of
said Lot 1 and a point for angle hereof;
Page 2 of 2
THENCE, with the easterly boundary line of Lot 1, along a curve to the right having a radius of 530.00
feet, a central angle of 10°17'23", an arc length of 95.18 feet and a chord which bears N33°10'S1"E
fora distance of 95.05 feet to a capped iron rod set at the terminus of Forest Ridge
aangleBoulevard n per the
plat of said subdivision as and being point for hereof, and from which an iron rod found in the
northerly right-of-way line of Forest Ridge Boulevard bears N34°02`24"E at a distance of 4.79 feet;
THENCE, with the terminus right-of-way line of Forest Ridge Boulevard, S51°56'11"E, for a distance of
60.00 feet to a concrete nail set in a sidewalk at the terminus of said Forest Ridge
point of curvature in the westerly property line of Lot 31, Block Boulevard, being riy corner n
Cabinet N, Slide 379-380 of said Public Records and also being the northwester uff Sectine 1B, as recorded in
hereof;
THENCE, with saki common boundary line of said Lot 31, being the easterly boundary line hereof, along
a curve to the left having a radius of 470.00 feet, a central angle of 12°54'44",an arc
length of
105.92 feet and a chord which bears S31°27`27"W for a distance of 105.69 feet to a iron rod found
being an angle point hereof.
THENCE, with said common boundary line, S25°13'47"W, at a distance of 59.67 feet pass a iron rod
found for the northwest corner of Lot 21 and southwest corner of Lot 31,at a distance of 227.30 feet
pass an iron rod found for the northwest comer of Lot 20 (being a lot of utility conveyance
per plat) and southwest comer of Lot 21,at a distance of 249.10 feet und and access
on the
northwest corner of Lot 19 and southwest corner of Lot 20, and continuing for a total distance 525. 525.38
feet to the POINT OF BEGINNING and containing 2.426 acre of land.
Note: Bearings are based on Grid Bearings, distances are surface distances, and coordinates are surface
values based on the Texas State Plane Coordinate System, NAD 83, Texas Central Zone, using a
Combined Adjustment Factor of 1.00012.
This property description is accompanied by a separate plat.
I, M. Stephen Truesdale, a Registered Professional Land Su
descriptionmyherebyhe
was detean knowledge and belief and that the property described
by a survey made on the ground under my direction supervision.
WITNESS MY HAND AND SEAL at Round Rock, Williamson County, Texas.
M. Stephen Truesdale
Registered Professional Land Surveyor No. 4933
Licensed State Land Surveyor
Inland Civil Associates, L.L.C.
206 West Main Street Suite 107
Round Rock, TX 78664
512-238-1200
,Oza
� o�
Date