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Fox Hollow (Lot 9, Block 1), 1998 - Warranty Deed FF$ 13.00, GF# 13577466, FNT /SJC • . WARRANTY DEED ,3 . Date: June 25, 1998 Grantor: 114 FOX-HOLLOW, L. P . Grantor's Mailing Address (including county): 1335 HIDDENGLEN, SOUTHLAKE, TX 76092 Grantee: THE CITY OF SOUTHLAKE Grantee's Mailing Address (including county): 667 N CARROLL AVE, SOUTHLAKE, TX 76092 Consideration: CASH AND OTHER VALUABLE CONSIDERATION, RECEIPT OF WHICH IS HEREBY ACKNOWLEDGED AND CONFESSED; • ALL CASH -a z► N Xt C A J. rw t z 4 sri W —4 0 Y"�3 >G n Property (including any improvements): SEE ATTACHED EXHIBIT "A" Reservations from and Exceptions to Conveyance and Warranty: * Easements, rights -of -way, and prescriptive rights, whether of record or not; all presently recorded instruments, other than liens and conveyances, that affect the property; taxes for 1998, the payment of which Grantee assumes - Grantor, for the consideration i subject to the reservations from and except to conveyance and warranty, grants, " sells, and conveys to Grantee the property, together with all and singular the rights and appurtenances thereto in any wise belonging, to have and hold it to Grantee, Grantee's heirs, executors, administrators, successors, or assigns forever. Grantor binds Grantor and Grantor's heirs, executers, administrators, and successors to warrant and forever defend all 4. 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. • • 114 FOX- HOLLOW. L.P. By: JMG Capital Development, L.P. By: HJG Capital Development, Inc., a Texas Corp.. its general partner By : 9042_, ') • jit8 451. Joe M. Graham, President (Acknowledgment) STATE OF TEXAS County of Dallas This instrument was acknowledged before me on the 25th day of June , 19 98 by Joe M. Graham, President CONNIE J. NICHOLS s • *: '• MY COMMISSION EXPIRES t "--•* • •; : October 16, 2001 �,-1_ — ' .-- -�� No Public, State of Texas Notary name printe•: Connie J. Nichols My Commission expires: 10/16/2001 AFTER RECORDING RETURN TO: PREPARED IN THE OFFICES OF: CITY OF SOUTHLAKE Fidelity National Title 667 N CARROLL AVE 1723 /LJ E. Southlake Blvd., #100 1 SOUTHLAKE, TX 76092 Southlake, TX 76092 • GF No. 135774 -T -66 EXHIBIT "A" BEING 0.064 of an acre of land being a portion of Lot 9, Block 1, FOX HOLLOW, an Addition to the City of Southlake, Tarrant County, Texas according to the Plat recorded in Cabinet A, Slide 2969, Plat Records of Tarrant County, Texas, and also being conveyed to 114 Fox - Hollow, L.P. as recorded in Volume 12776, Page 299, Deed Records of Tarrant County, Texas, said 0.064 of an acre of land being more particularly described by metes and bounds as follows: - BEGINNING at a 1/2 inch iron rod with cap stamped (Moak Surv.) found at the Northeast corner of the aforementioned Lot 9, Block 1, same being the Northwest corner of Lot 3R2, Block 1, of the Amended plat of Crumbaker Addition to the City of Southlake as recorded in Cabinet A, Slide 807, Plat Records of Tarrant County, Texas, said iron rod also being the beginning of a non - tangent curve to the left with a radius of 2501.83 feet and whose long chord bears South 44 degrees 38 minutes 23 seconds East, 243.30 feet; THENCE along said curve with the common line of said Lot 9 and said Lot 3R2, in a counterclockwise direction, through a central angle of 05 degrees 34 minutes 27 seconds, an arc distance of 243.40 feet to a 1/2 inch iron rod with cap stamped (Moak Surv.) found at the end of said curve, same being the Southwest corner of said Lot 3R2 and the most Easterly Southeast corner of said Lot 9, in the Northerly line of a 4.60 acre tract of land conveyed to T.W. Glosser and Debra Glosser as recorded in Volume 11613, Page 1101, Deed Records of Tarrant County, Texas; THENCE North 89 degrees 38 minutes 56 seconds West, along the South line of said Lot 9, Block 1 and the North line of said 4.60 acres of land, a distance of 26.84 feet to a 1/2 inch iron rod with plastic cap stamped "Landes & Assoc." set at the beginning of a non - tangent curve to the right with a radius of 3069.08 feet and whose long chord bears North 41 degrees 11 minutes 36 seconds West, 229.90 feet, a Tx. D.O.T. iron rod found bears North 43 degrees 20 minutes 27 seconds West, 0.34 feet; THENCE Northwesterly, along said curve in a clockwise direction through a central angle of 04 degrees 17 minutes 34 seconds, an arc distance of 229.95 feet to the North line of said Lot 9, Block 1, a Tx. D.O.T. iron rod found bears South 26 degrees 00 minutes 49 seconds East, 0.25 feet; THENCE South 89 degrees 40 minutes 14 seconds East, along the North line of said Lot 9, a distance of 7.30 feet to the Place of Beginning and containing 2,787 square feet or 0.064 of an acre of land, more or less. NOTE: THE COMPANY DOES NOT REPRESENT THAT THE ACREAGE AND /OR SQUARE FOOTAGE CALCULATIONS ARE CORRECT. 2 • D198144007 CITY OF SOUTHLAKE 667 N CARROLL AVE SOUTHLAKE TX 76092 -W A R N I N G -THIS IS PART OF THE OFFICIAL RECORD - -D O N O T D E S T R O Y I N D E X E D - - T A R R A N T C O U N T Y T E X A S S U Z A N N E H E N D E R S O N -- COUNTY CLERK O F F I C I A L R E C E I P T T 0: FIDELITY NAT'L TITLE RECEIPT NO REGISTER RECD -BY PRINTED DATE TIME 198263731 DR91 T021863 07/01/98 09:06 INSTRUMENT FEECD INDEXED TIME 1 D198144007 WD 980701 09:06 CK 2478 T O T A L: DOCUMENTS: 01 F E E S: 13.00 B Y: ANY PROVISION WHICH RESTRICTS THE SALE RENTAL OR USE OF THE DESCRIBED REAL PROPERTY BECAUSE OF COLOR OR RACE IS INVALID AND UNENFORCEABLE UNDER FEDERAL LAW. LETTER OF AGREEMENT As additional consideration for the purchase of approximately 2832 square feet of land, as agreed upon in the attached contract. the City of Southlake will grant to Southlake Fox Hollow Limited, the use of the building formerly known as `Doug's Barber Shop ", for a period of 120 days from the date of closing of the attached contract. One sign may be erected adjacent to the building for a period of 120 days from the date of closing of the attached contract so long as the sign complies with the sign ordinances of the City of Southlake. Southlake Fox Hollow Limited will maintain the building and premises and be responsible for all utilities, maintenance. and insurance. including liability insurance, and hold the City of Southlake harmless of any claims for damages or suites that may occur during the 120 day period. At the end of the 120 day period, all signs will be removed and the building will be vacated and returned to the City of Southlake in its original or improved condition Agreed upon this /( day of 1998 __4±1,3,Z jt daa C I - pit_ Southlake Fox Hol ow Limit a . /i G2/ City of S e Pe_i_c6' kie ( ' /Wale)- , 4, a Title Title 4 f 3L.5 die AV i 7,d 62,kn,7/4) . addre ( / / /J � address / / -teta . f.t., ,7'0 City tate code City State Zip code Cri 3N6! �� t/ f/7 � _ e Phon /- Ss l� IO�� e , • CONTRACT OF SALE NON - RESIDENTIAL THE STATE OF TEXAS COUNTY OF TARRANT KNOW ALL MEN BY THESE PRESENTS that: Southlake Fox Hollow Ltd. (hereinafter called "Seller," whether one or more) hereby sells and agrees to convey to The City of Southlake (hereinafter called "Purchaser," whether one or more) and Purchaser hereby buys and agrees to pay for the following described real estate situated in Tarrant County, Texas to wit: Being 2,832 square feet of land, more or less, and being out of Lot 9, Block 1, of the Fox Hollow Addition to the city of Southlake, Tarrant County, Texas, recorded in Cabinet A, Slide 2969, of the Plat records, Tarrant County, Texas, and being a portion of a tract which was conveyed to Southlake Fox Hollow Limited by deed dated June 4, 1996, and recorded in Volume 12392, Page 2306, of the Real Property Records, Tarrant County, Texas, which 2,832 square feet of land, more or less are more particularly described as follows: See attached EXHIBIT "A" metes and bounds. together with, all and singular, all improvements thereon and all rights and appurtenances pertaining thereto, including any right, title and interest of Seller in and to adjacent streets, alleys, or right -of -way, such real estate, improvements, rights and appurtenances being herein referred to as the "Property. " This Contract and the Property also covers and includes all fixtures and articles of personal property attached to said real estate and owned by Seller, such as air conditioning and heating equipment. This Contract is executed upon the following terms and conditions: 1. PI TRCHASE PRICE. The purchase price for the Property is $ 12,000.00 payable as follows: a.$ 12,000.00 in cash. b. Any note or notes to be executed by Purchaser hereunder shall be secured by vendor's lien and by deed of trust with power of sale and containing such covenants as to taxes, insurance, default and other matters as Seller may reasonably require. 2. EARNEST MONEY. Upon full and final execution of this Contract, Purchaser shall deliver the sum of $ -0- to Fidelity National Title Company, Southlake Texas ( "Title Company ") to be held by the Title Company as Earnest Money (herein so called) pursuant to the terms of this Contract. r � 3. SURVEY AND TITLE BINDER A. Within seven ( 7 ) days after the date of this Contract, purchaser shall, at purchaser's expense, deliver or cause to be delivered to Purchaser a copy of a current on- the -ground survey ( "Survey ") of the Property made by a duly licensed surveyor reasonably acceptable to the Purchaser. The Survey shall be in a form acceptable to the Title Company in order to allow the Title Company to delete the survey exception (except as to "shortages in area ") from the Title Policy to be issued by the Title Company. The Survey shall show the location of all improvements on the Property, if any. If this Contract does not close through no fault of Seller, in addition to the other rights of Seller hereunder, Purchaser shall pay for the Survey. B. Within seven (7 ) days after the date of this Contract, purchaser shall, at purchaser's expense, deliver or cause to be delivered to Purchaser: (1) A title commitment ( "Title Binder ") covering the Property binding the Title Company to issue a Texas Owner's Policy of Title Insurance on the standard form of policy prescribed by the Texas State Board of Insurance at the Closing in the full amount of the purchase price, and (2) True, correct, and legible copies of any and all instruments referred to in the Title Binder as constituting exceptions or restrictions upon the title of Seller, except. that copies of any liens which are to be released at the closing may be omitted 4. APPROVAL PERIOD AND TITLE A. Purchaser shall have ten (10) after the receipt of the Survey and Title Binder to review them and to deliver in writing to Seller such objections as Purchaser may have to anything contained in them. Any such item to which Purchaser shall not object shall be deemed a "Permitted Exception." If there are objections by Purchaser, Seller shall in good faith attempt to satisfy them prior to closing, but Seller shall not be required to incur any cost to do so. If Seller delivers written notice to Purchaser on or before the closing date that Seller is unable to satisfy such objections, or if, for any reason, Seller is unable to convey title in accordance with Section 7 (B) below, Purchaser may either waive such objections and accept such title as Seller is able to convey or terminate this Contract by written notice to Seller. Zoning ordinances and the lien for current taxes shall be deemed to be Permitted Exceptions. B. Seller represents and warrants to Purchaser that at the closing Seller will have and will convey to Purchaser good and marketable title to the Property free and clear of any and all encumbrances except the Permitted Exceptions. Delivery of the Title Policy pursuant to Section 7 below shall be deemed to fulfill all duties of Seller as to the sufficiency of title required hereunder; provided however, Seller shall not thereby be released from the warranties of Seller's Deed. 5. INSPECTION Purchaser acknowledges that Purchaser has inspected all buildings and improvements situated on the Property and is thoroughly familiar with their condition, and Purchaser hereby accepts the Property and the buildings and improvements situated thereon, in their present condition, with such changes therein as may hereafter be caused by reasonable deterioration. 6. CASt "ALTY LOSS All risk of loss to the Properly shall remain upon Seller prior to the closing. If, prior to the closing, the Property shall be damaged or destroyed by fire or other casualty, to a material extent, Purchaser may either terminate this Contract by written notice to Seller or close. If Purchaser elects to close, despite said material damage or destruction, there shall be no reduction in the purchase price, and Seller shall assign to Purchaser Seller's right, title and interest in and to all insurance proceeds resulting or to result from said damage or destniction. Unless otherwise provided herein, the term "material" shall mean damage or destruction, the cost of repairing which exceeds ten (1 0°,0 percent of the purchase price. In the event of less than material damage or destruction to the Property prior to the closing, Seller shall either repair the same prior to the closing.. at Seller's expense, or reimburse Purchaser for the cost of repairing the same by assigning any insurance proceeds resulting therefrom to Purchaser andior by allowing Purchaser to deduct such cost from the cash payable to Seller at the closing. If the extent of damage or the amount of insurance proceeds to be made available is not able to he determined prior to the closing date specified in Section 7 below, or the repairs are not able to be completed prior to said date, either party by written notice to the other, may postpone the date of the closing to such date as shall be designated in such notice, but not more than thirty (30) days after the closing date specified in Section 7 below. 7. CLOSING. A. The closing ofthis Contract shall he held on or before June 30, 1998 at the offices of the Title Company at its address stated below: provided, however, that if on such date the Title Company has not yet approved title or if there are objections made by Purchaser which have not yet been cured by Seller, either party, by written notice to the other, may postpone the date of the closing to such date as shall be designated in such notice but not more than thirty (30) days after the closing date above specified. B. At the closing Seller shall deliver to Purchaser: (1) a General Warranty Deed (with Vendor's Lien retained it not a cash purchase) conveying the Property according to the legal description prepared by the surveyor as shown on the Survey of the Property, subject only to the Permitted Exceptions; (ii) a Title Policy issued by the underwriter for the Title Company pursuant to the Title Binder with the survey exception deleted (except as to shortages in area) subject only to the Permitted Exceptions: and (iii) possession of the Property. C. At the closing, Purchaser shall deliver to Seller (I) the cash portion of the purchase price (the Earnest Money being applied thereto) and (II) the Note and the Deed of Trust. if any. D. Rents and lease commissions, interest, and advalorem taxes for the then current year shall be prorated at the closing effective as of the date of closing. Purchaser agrees to execute and deliver to Seller in duplicate an Assumption Agreement in recordable form agreeing to pay all commissions payable under any lease of the Property. Any security deposits held by Seller shall be delivered to Purchaser. If the closing shall occur before the tax rate is fixed for the then current year, the apportionment of the taxes shall he upon the basis of the tax rate for the preceding year applied to the latest assessed valuation but any difference in actual and advalorem taxes for the year of sale actually paid by Purchaser shall be adjusted between the parties upon receipt of written evidence of the payment thereof. All taxes imposed because of a change of use of the Property after the closing shall be for the account of Purchaser. E. If Purchaser is to assume an existing loan, Purchaser shall pay any transfer fee, and a sum equal to the amount of any reserve accounts held by the mortgage for the payment of taxes and /or insurance shall he paid to Seller by Purchaser. Purchaser shall execute, at the option and expense of Seller, a Deed of Trust to Secure Assumption with a Trustee named by Seller. F. If the Properly is situated within a utility district subject to the provisions of Section 50.301, Texas Water Code, then at or prior to the closing, Seller agrees to give Purchaser the written notice required by said Section and Purchaser agrees to sign and acknowledge the notice to evidence receipt thereof G. Closing Costs: The City of Southlake will pay all closing Cost. The seller will be responsible for all taxes upon the property to date of closing. 11. TERMINATION. If this Contract is terminated by Purchaser in accordance with Section 4 or 6 above, the Earnest Money shall be promptly refunded to Purchaser, and the parties shall have no further obligation or liabilities one to the other. 9. DEFAULT. If Seller shall fail to consummate this Contract for any reason, except Purchaser's default, Purchaser may enforce specific performance ofthis Contract or may bring suit for damages against Seller. If Purchaser shall fail to consummate this Contract for any reason, except Seller's default or the termination of this Contract pursuant to a right to terminate given herein, Seller shall have the right to have the Earnest Money paid to Seller as liquidated damages for the breach ofthis Contract, or Seller may bring suit for damages against Purchaser or enforce specific performance ofthis Contract. 10. MISCELLANEOUS PROVISIONS. A. Date of Contract. The term "date of this Contract" as used herein shall mean the later of the two dates on which this Contract is signed by Seller or Purchaser, as indicated by their signatures below, which later date shall be the date of final execution and agreement by the parties hereto. B. Notices. Any notice or communication required or permitted hereunder shall be deemed to be delivered. whether actually received or not, when deposited in the united States mail, postage fully prepaid, registered or certified mail, addressed to the intended recipient at the address on the signature page of this Contract. Any address for notice may he changed by written notice so given. C. Forms. In case of a dispute as to the form of any document required hereunder, the current form prepared by the State Bar of Texas shall he conclusively_ deemed reasonable. D. Attorney's Fees. Any signatory to this contract who is the prevailing party in any legal proceeding against any other signatory brought under or with relation to this contract or transaction shall he additionally entitled to recover court costs and reasonable attorney fees from the non - prevailing party. E. Integration. This Contract contains the complete agreement between the parties and cannot be varied except by the written agreement of the parties. The parties agree that there are no oral agreements, understanding, representations or warranties which are not expressly set forth herein. F. Survival. Any portion of this Contract no rwise consummated at the Closing will survive the closii his transaction as a continuing agreement by and between the parties. C. Binding Effect. This Contract shall inure to the benefit of and bind the parties hereto and their respective heirs, representatives, successors and assigns. 11. CONTRACT AS OFFER. The execution of (this Contract by the first party to do so constitutes an offer to purchase or sell the Property. Unless within three ( 3 ) days from the date of execution of this Contract by the first party, this Contract is accepted by the other party and a fully executed copy is delivered to the first party, the offer of this Contract shall be automatically revoked and terminated, and the earnest money, if any, shall be returned to Purchaser. 12. CONSULT YOUR ATTORNEY: This is intended to be a legally binding contract. READ IT CAREFULLY. If you do not understand the effect of any part, consult your attorney BEFORE signing. The Broker cannot give you legal advice - only factual and business details concerning land and improvements. Attorneys to represent parties may be designated below, and, so employment may be accepted, Broker shall promptly deliver a copy of this contract to such attorneys. Seller's Atty.: Buyer's Atty.: 13. OTHER PROVISIONS. EXECUTED on the dates stated below. SELLER: Southlake Fox Hollow Limited By: �'(�� -l ' z � �/ !�_ � ! 1. ►.��. Title Address Date of Execution PURCHASER: The City of Southlake By: 1 � at/. tle 667 N. Carroll Southlake TX 76092 Address Date of Execution Title Company received contract This day of 19 Title Company Fidelity National Title By: Title: Address 1723 E. Southlake Blvd. Suite 100 Southlake, TX 76092 (817) 329 -8421 EXHIBIT "A" Parcel 12 SH 114 CSJ: 0353 -03 -052 03 -03 -97 Exhibit A, Page 1 of 1 Being 2,832 square feet of land, more or Tess, and being out of Lot 9, Block 1, of the Fox Hollow Addition to the City of Southlake, Tarrant County, Texas, recorded in Cabinet A, Slide 2969, of the Plat Records, Tarrant County, Texas, and being a portion of a tract which was conveyed to Southlake Fox Hollow Limited by deed dated June 4, 1996, and recorded in Volume 12392, Page 2306, of the Real Property Records, Tarrant County, Texas, which 2,832 square feet of land, more or Tess, are more particularly described as follows: BEGINNING at a right -of -way marker set at the intersection of the proposed Westerly right -of -way line of State Highway 114 and the North line of said Lot 9, same being 204.93 feet right of and at right angles to centerline survey station 1574 +46.52; (1) THENCE South 89° 49' 53" East (called South 89° 08' 00" East) with said North line, same being the South line of the Claude L. Shivers et ux Tract 1 as described in Volume 8736, Page 2171, of the Real Property Records, Tarrant County, Texas, a distance of 7.52 feet to the reconstructed most Northerly Northeast corner of said Lot 9, same being in a curve to the left whose center bears North 48° 06' 27" East, a distance of 2,501.80 feet; (2) THENCE in a Southerly direction with the Easterly line of said Lot 9, same being the Westerly line of Lot 3R2, Block 1, of the Crumbaker Addition recorded in Cabinet A, Slide 807, of the Plat Record, Tarrant County, Texas, and along said curve having a central angle of 05° 33' 51" (called 05° 34' 24, 243.36 feet), a distance of 242.96 feet to the reconstructed most Easterly corner of said Lot 9; (3) THENCE North 89° 39' 06" West (called North 89° 04' 00" West) with the most Northerly South line of said Lot, same being the North line of the T. W. and Debra Glosser tract recorded in Volume 11613, Page 1101, of the Real Property Records, Tarrant County, Texas, a distance of 27.20 feet to a right -of -way marker set in said proposed Westerly right -of -way line of said State Highway 1 14, said marker being South 89° 39' 06" East, a distance of 28.25 feet from a 5/8 -inch iron rod found at a reentrance corner of said Lot 9, said marker also being in a curve to the right whose center bears North 46° 39' 24" East, a distance of 3,069.08 feet; (4) THENCE in a Northerly direction with said proposed right -of -way line and along said curve having a central angle of 04° 16' 58 ", a distance of 229.40 feet to the POINT OF BEGINNING. NOTE: Directional control is based on the centerline of proposed SH 114. � �E OF 1 ' •,.v 4418 P' ». SURV . .