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West Beach Addition, Bob Jones Park, 2007 - General Warranty Deed (2) 1111111 IIII UII III 70 2007 00060201 Denton County Cynthia Mitchell County Clerk Denton, Tx 76202 Recorded On: May 23, 2007 Instrument Number: 2007-60201 As Warranty Deed Parties: MILES MARYL YN ELIZABETH To Billable Pages: 4 Number of Pages: 4 Comment: ( Parties listed above are for Clerks reference only) ** Examined and Charged as Follows: ** Warranty Deed Total Recording: 28.00 28.00 ************ DO NOT REMOVE THIS PAGE IS PART OF THE INSTRUMENT ************ Any provision herein which restricts the Sale, Rental or use of the described REAL PROPERTY because of color or race is invalid and unenforceable under federal law. File Information: Document Number: 2007-60201 Receipt Number: 388585 Recorded Date/Time: May 23,2007 12:23:39P Record and Return To: CITY OF SOUTHLAKE 1400 MAIN ST SOUTHLAKE TX 76092 User / Station: J Morris - Cash Station 1 THE STATE OF TEXAS} COUNTY OF DENTON} I hereby certify that this Instrument was FILED in the File Number sequence on the date/time printed heron, and was duly RECORDED In the Official Records of Denton County, Texas. Cij.AtcWL County Clerk Denton County, Texas <,r, /) 0 .. ~-) t::::1 (1 --- ~rflfc2~9()(JO J'7Y Il().LvT)us)j/.y~ f' ORIGINAL NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING INFORMATION FROM THIS INSTRUMENT BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER. General Warranty Deed Date: May 17,2007 Grantor: Marylyn Elizabeth Miles f/k/a Marylyn Elizabeth Harrison Grantor's Mailing Address: 445 East F.M. 1382 #3296 Cedar Hill, Texas 75104 Dallas County Grantee: City of South lake, a home rule municipal corporation in Tarrant County, Texas Grantee's Mailing Address: 1400 Main Street, Southlake, Texas 76092 Tarrant County Consideration: Cash and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged. Property (including any improvements): THE SURFACE RIGHTS ONLY IN AND TO THE REAL PROPERTY DESCRIBED IN EXHIBIT A ATTACHED HERETO. Reservations from Conveyance: Grantor hereby reserves and excepts from this conveyance, and retains for Grantor and Grantor's heirs, successors and assigns forever, all oil, gas, and other minerals in and under and that may be produced from the property (the "Mineral Interest"). If the Mineral Interest is subject to existing production or an existing lease, this reservation includes the production, lease, and all benefits from it. Grantor hereby waives and releases any and all rights, title, interests, easements, rights-of-way and privileges, of every kind and character which Grantor has or may have to use or utilize, or to permit others to use or utilize, in any manner the surface of the Property or any part thereof, including, without limitation, the right to use the surface of the property or any part thereof for investigating, exploring by geological, geophysical and other methods, prospecting, drilling, mining, operating, producing, saving, transporting, storing or treating oil, gas and all other minerals, of every kind and character, whether similar or dissimilar, known or unknown, in, on, under and which may be discovered, mined, produced or recovered from the Property or any portion thereof. Grantor waives and releases its right of ingress and egress to the Property, its right to conduct any type of investigation on the surface, including, without limitation, any type of seismic operations, its right to use any portion of the surface of the Property for the drilling of any well, or for the storage or transportation of oil, gas or other minerals of any kind, and its right to lay pipeline across the Property or any portion thereof. Nothing herein however, restricts or prohibits the pooling or unitization of the Mineral Interest with land other than the Property; or the exploration or production of the oil, gas, and other minerals by means of wells that are drilled or mines that are opened on land other than the Property that enter or bottom under the Property, provided that these operations in no manner interfere with the surface or subsurface support of any improvements constructed or to be constructed on the Property. Exceptions to Conveyance and Warranty: Standby fees, taxes, and assessments by any taxing authority for the year 2007 and subsequent years, and validly existing utility easements created by the dedication deed or plat of the subdivision in which the Property is located. Grantor, for the Consideration and subject to the Reservations from Conveyance and the Exceptions to Conveyance and Warranty, grants, sells, and conveys to Grantee the Property, together with all and singular the rights and appurtenances thereto in any way belonging, to have and to hold it to Grantee and Grantee's heirs, successors, and WARRANTY DEED \ Z:\Data\ WORD\PRODOC\miles-# 1 b.rtf Page - 1 - ~ \. .\ i assigns forever. Grantor binds Grantor and Grantor's heirs and successors to warrant and forever defend all and singular the Property to Grantee and Grantee's heirs, successors, and assigns against every person whomsoever lawfully claiming or to claim the same or any part thereof, except as to the Reservations from Conveyance and the Exceptions to Conveyance and Warranty. When the context requires, singular nouns and pronouns include the p ral. STATE OF TEXAS This instrument was acknowledged before me on May 17,2007, by Marylyn Elizabeth Miles f/k/a Marylyn Elizabeth Harrison. :~.I' .."".... l;'~I$-. t~1'\..tj ~..1l,f.,9K,~~.... SANDY J. CROSS MY COMMISSION EXPIRES November 4,2010 ~~ ~I?iH~C[Qr ot l'ubllc t'VUlltS- €i~y sH:8\ttklaki, T~v"o . ~i~ g~dkati8R iJ ace~pt~d by die uty Malli:l5d, Cit:r ef~9'lthhke Texas: - ~'"'tann" Vplverton City Manager Ci~ ef5vutlllak~, Talla~_ PREPARED IN THE OFFICE OF: Michael S. Newman, Attorney at Law 9288 Huntington Square, Suite 200 North Richland Hills, Texas 76180 Tel: (817) 656-8100 Fax: (817) 577-0022 AFTER RECORDING RETURN TO: City of Southlake 1400 Main Street Southlake, Texas 76092 WARRANTY DEED \ Z:\Data\ WORD\PRODOC\miles-# 1 b.rtf Page - 2 - , I " Order No. 2339000174 Exhibit A 11.734 acres of land situated in the R.D. Price Survey, Abstract No. 1003, City of Southlake, Denton County, Texas; said 11.734 acres of land being more particularly described by metes and bounds as follows: Beginning at a 1 inch iron rod found near a fence corner post at the Northeast corner of a tract of land described in the deed to Marilyn Tucker in Volume 1130, Page 141, Deed Records, Denton County, Texas, said iron rod also being the Northwest corner of a tract of land described in the deed to Marilyn Miles recorded in Volume 1385, page 745, DRDCT, said iron rod being an ell corner of a 60.8825 acre tract of land described in the deed to the City of Southlake recorded in Volume 4311, page 2459, DRDCT, said iron rod also being the Northwest corner of that certain 79.5 acre tract of land referred to in deed to Alice J. Fretwell dated February 28, 1931, Volume 251, Page 42, DRDCT; Thence South 87 degrees 25 minutes 38 seconds East, 795.91 feet (deed call South 86 degrees 38 minutes 38 seconds East, 767.06 feet along the North line of said Miles tract and a South line of said 60.8825 City of South lake tract to a Corps of Engineer monument found (Mon. No. C236-4) and the Northeast corner of said Miles tract; Thence South 00 degrees 52 minutes 35 seconds West, 671.84 feet (deed call South 01 degrees 35 minutes 43 seconds West, 672.0 feet) along a West line of a tract of land conveyed to the United States of America (Corps of Engineer) and along the East line of said Miles tract to its Southeast corner, a Corps of Engineer monument found (Mon. No. C236-3); Thence North 84 degrees 09 minutes 08 seconds West, 781.87 feet (deed call North 83 degrees 26 minutes West, 782.37 feet) along a North line of said USA tract and along the South line of said Miles tract to a Corps of Engineer monument found (Mon. No. C236-2) at the Southwest corner of said Miles Tract in the East line of a tract of land conveyed to City of Southlake, Texas recorded in Volume 4021, Page 606, DRDCT; Thence North 00 degrees 38 minutes 31 seconds West, 627.87 feet (deed call North 02 degrees 45 minutes 25 seconds East, 627.90 feet) along the West line of said Miles tract and along the East line of a tract of land described in the deed to City of Southlake, Texas recorded in Volume 4021, Page 606, DRDCT passing a 1/2 inch iron rod found at 93.04 feet, a Southerly corner of the aforementioned 60.8825 acre tract and continuing along an East line of said 60.8825 acre tract of land to the point of beginning and containing 11.734 acres of land. NOTE: The Company is prohibited from insuring the area or quantity of the land described herein. Any statement in the legal description contained in Schedule "A" as to area or quantity of land is not a representation that such area or quantity is correct, but is made only for informal identification purposes and does not override Item 2 of Schedule "B" hereof. Tax Proration Agreement & Disclosures Page 3 of 3 Rev. 01/07 " Denton County Cynthia Mitchell County Clerk Denton, Tx 76202 Recorded On: May 23,2007 Instrument Number: 2007-60202 As Memorandum Parties: MILES MARYL YN ELIZABETH To Billable Pages: 3 Number of Pages: 3 Comment: ( Parties listed above are for Clerks reference only) ** Examined and Charged as Follows: ** Memorandum 24,00 Total Recording: 24.00 ************ DO NOT REMOVE THIS PAGE IS PART OF THE INSTRUMENT ************ Any provision herein which restricts the Sale, Rental or use of the described REAL PROPERTY because of color or race is invalid and unenforceable under federal law. File Information: Document Number: 2007-60202 Receipt Number: 388585 Recorded Date/Time: May 23,2007 12:23:39P Record and Return To: User / Station: J Morris - Cash Station 1 CITY OF SOUTHLAKE 1400 MAIN ST CITY MANAGER SOUTHLAKE TX 76092 ~4--"'~ ,< ;~;'"'''''"r*, -</Mts'~< \ /'"'" ,.. \'0 r9,l,;, "', ; It" l'~J~'" 'r '. ;::'jfj/j~~.' . \::"""\~.; ~ .'~/:z \ .Xi, ~>' , .... ~ Jf. ...., tiS'lb .'",/ ~_.. THE STATE OF TEXAS} COUNTY OF DENTON} I hereby certify that this Instrument was FILED in the File Number sequence on the date/time printed heron, and was duly RECORDED In the Official Records of Denton County, Texas. ~cW.l County Clerk Denton County, Texas I . . Ft:kf - q+J239CKJOl7y!C0UjI-J,S/o...1 ~ ORIGINAL MEMORANDUM OF AGREEMENT This Memorandum of Agreement is entered into on this 17th day of May, 2007, between the City of Southlake ("City"), 1400 Main Street, Southlake, Texas 76092, and Marylyn Elizabeth (Harrison) Miles ("Miles"), 445 E. 1382, #3295, Cedar Hill, TX 75104. 1. The City and Miles entered into a Contract for Sale on the 1 st day of May, 2007, by which Miles agreed to sell to the City a tract of land as described on Exhibit "A" to this Memorandum of Agreement. 2. The Contract of Sale contains the following provision: "5.02 Seller's Status. Purchaser agrees that Seller shall be treated as having South lake resident status for the purposes of making reservations and use of Bob Jones Park for her lifetime." 3. The parties intend for Section 5.02 of the Contract of Sale to survive the closing of the sale of the property described in Exhibit "A" to this Memorandum of Agreement to the City, and by this Memorandum of Agreement reaffirm that understanding. IN WITNESS WHEREOF, the parties have executed this Memorandum of Agreement as of the day and year first above written. CITY OF SOUTH LAKE: After recording, please return this document to: City of South lake 1400 Main Street Southlake, Texas 76092 Attn.: City Manager W:\SOUTHLAKE\AGREEMENTS\MEMORANDUM OF AGREEMENT -- MILES.DOC Page 1 of2 . ". ./ ACKNOWLEDGMENT STATE OF TEXAS ~ ~ COUNTY OF TARRANT ~ . ..; . Onl'l .- ~~~ Before me on this day personally appeared M(1u.1 , ~"-' t~~h.il. we, ~nown to me [or proved to me on the oath of mough~~ COA c;;..e (description of identity card or other document)] to be the erson whose name is subscribed to the foregoing instrument and acknowledge e that he exec d the same for the purposes and consideration therein expresse ,~~'\!\\:'r~ f~: ..~ \~k...".,/ 'If"Wt." . CROSS MY COMMISSION EXPIRES November 4, 2010 Given under my hand and seal of offi Notary's Name Printed ACKNOWLEDGMENT STATE OF TEXAS ~ ~ COUNTY OF TARRANT ~ Before me on this day personally appeared , known to me [or proved to me on the oath of or through (description of identity card or other document)] to be the person whose name is subscribed to the foregoing instrument and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office this day of ,2007. (SEAL) Notary Public, State of Texas Notary's Name Printed W:\SOUTHlAKE\AGREEMENTS\MEMORANDUM OF AGREEMENT -- MllES.DOC Page 2 of 2 ...f ..... (t:;/{J; Wr1LRCHASER'S STATEMENT GFNo: 2339000174 Date: May 17, 2007 Sale From: Marylyn Elizabeth (Harrison) Miles 445 E. 1382, #3295 Cedar Hills, TX 75104 To: The City of South lake 1400 Main Street Southlake, TX 76092 Property: 11.2 Acres, R.D. PRICE, No. 992, Abst. 1003D, Tract 6, DENTON County Mud Hen Road South lake, TX 76092 Purchase Price........................................................................................................................................................................................................................................$1,050,000.00 Plus: Charges TITLE INSURANCE ..............................................m...............m........................................................................................m.................................................. $6,749.35 Owner Title Policy.................................................______.......................___..___.........................___.___........___................................$5,869.00 Area & Boundary Amend (T -I )_____.___.............._________..___............__........................___...........______...__........____...........__.............$880.35 ~~~~~~~ OTHER SETTLEMENT CHARG ES ..................___.........................___.....___............................__.._____..................___........................................___...................__.... $1.00 State of Texas Policy Guaranty Fee to Texas Title Insurance ...........................................___.___...__. __..........$1.00 Guaranty....__......__..........__..._____....____................................................__.__....___....__.____............ Total Cha rges........................................................................................................__.......__................................______.........___...............$6,978.35 Gross Amount Due By Purchaser..................................................................................._______..__.........:$1,056,978.35 Less: Credits ....__.__.......................:.........................__...................................................................................__............._...............................................______.....................................___................$0.00 County Property Taxes ......................................................................___...___...__...____."___'m...... From 0 1/0 1/2007 thru 05/1712007 ..............__...__....$564.25 Earnest Money .........____..__....__..........___.__.....___.......................................................................................................__.___...__....................................__...__......__.............$2, 000.00 T ota I Cred its..........__..........................__...................................__.__................................................_____......___........................................$2,564.25 P""h~" ""d~b"d, ili, CJ";,, " E"mw ~::::c:::J:ytl:~:::::::::;.::=:,:;:;:;=::,:;:::~:::,~;:;::=o:~ J:'~~?:"~11.~' and cannot guarantee the accuracy thereof. The lender involved may be furnished a copy of this statement. Purchaser understands that tax and insurance prorations and reserves were based on figures for the preceding year or supplied by others or estimates for the current year, and in the event of any change for current year, all necessary adjustments must be made between Purchaser and Seller direct. The undersigned hereby authorizes LandAmerica Commonweal~h Title of Fort Worth, Inc. to make expenditure and disbursements as shown above and approves same for payment. The undersigned also acknowledges receipt of Loan Funds, if applicable, in the amount shown above and a receipt of a copy of this Statement The City of Southlake Printed at: 05/16/2007 (04:03 pm) Worth, Inc. Compliments of LandAmerica Commonwealth Title of Fort .A ..... PURCHASER'S STATEMENT Date: May 17,2007 GFNo: 2339000174 Sale From: Marylyn Elizabeth (Harrison) Miles 445 E. 1382, #3295 Cedar Hills, TX 75104 To: The City of Southlake 1400 Main Street Southlake, TX 76092 Property: I I.2 Acres, R.D. PRICE, No. 992, Abst. 10030, Tract 6, DENTON County Mud Hen Road Southlake, TX 76092 Pu rch ase Price.......___.______......___. ___.......................................___..........___.___............___.............................................................................................___....___.......................$1,050,000.00 Plus: Charges TITLE INSURANCE ....................................___...........................................................................................___.................___....................................-................. $6,749.35 Owner Title Policy.................................___.............................................................................___..............................................$5,869.00 Area & Boundary Amend (T -I ).........___................___.............___.................___..............................................___.......................$880.35 ___..___..................................................___...........___.___................___..............___....................................___...._..........___.........................___................................___.._.......................... $0.00 Other Title Charges to Michael S. Newmall...........................___................................................................................................................._.................... $620.00 Courier /W ire F ees.........___..............................................................................................___..........................................................$120.00 Escrow F ees..........___........................................I.................___.........................................._................................................................$500.00 OTHER SETTLEMENT CHARGES ................___...........___..........................................................................___........___.............................___.._..................... $151.00 State of Texas Policy Guaranty Fee to Texas Title Insurance ___.........,.........................................................$1.00 Guaranty......................___...............___..............___...............___............______............................ Document Preparation to Michael S. Newmall.................................................................___..........................___..___....$150.00 Tax Certificate to Data Trace... ___.___............___.............___..___.............................___...................................___........................._________...................._....___.._________..... $47.55 Filing Fees to LandAmerica Commonwealth Title...............___.....;.........___.....................................___................................___...............____...___.............. $28.00 T ota I Cha rges..___.___.....................................___..........___.................................................______..___..................................___.....................$7 ,595.90 Gross Amount Due By Purchaser............___................___......___...___....................___....______.......................$1,057,595.90 Less: Credits ..___..........______..___..___.................___..............______. ...............______................______.........___..............___.___....................................___..............................___...___...............................___.......$0.00 County Property Taxes ....___.................___.___...............___.............___...............___..___.........______..... From 01/01/2007 thru 05/17/2007 ..___.....................$564.25 Total Cred its......___...___.............___............___.....................................................................___............................................___.....................$564.25 Balance Due by Purchaser..___................................................................___.......................................___...... $1.057.031.65 Purchaser understands the Closing or Escrow Agent has assembled this information representing the transaction from the best information available from other sources and cannot guarantee the accuracy thereof. The lender involved may be furnished a copy of this statement. Purchaser understands that tax and insurance prorations and reserves were based on figures for the preceding year or supplied by others or estimates for the current year, and in the event of any change for current year, all necessary adjustments must be made between Purchaser and Seller direct. The undersigned hereby authorizes LandAmerica Commonwealth Title of Fort Worth, Inc. to make expenditure and disbursements as shown above and approves same for payment. The undersigned also acknowledges receipt of Loan Funds, if applicable, in the amount shown above and a receipt of a copy of this Statement LandAmerica Commonwealth Title of Fort Worth, Inc. The City of Southlake By Sandy Cross By Shana Yelverton, City Mgr. Printed at: 05/1 7/2007 (04:00 pm) Worth, Inc. Compliments of LandAmerica Commonwealth Title of Fort ,. . Page 1 of2 FEE $47.55 PAGE 1 OF 2 TAX CERTIFICATE DATA TRACE 2229 AVE J, SUITE 101 ARLINGTON, TX 76006 817-261-8190 FAX 817-695-4121 REM/T CERT FEE TO: DATA TRACE P. O. BOX 848244 DALLAS, TX 75284 CUST: ~DAMERICA COMMONWEALTH BRANCH: GF#: 2339000174 CLOSER: SC ORDER TYPE: T SUBTYPE:R DATE: 03/30/07 IR-68610 CAD ACCOUNT NUMBER SUMMARY DENTON COUNTY SOUTH LAKE CITY COLLECTED ISO - NORTHWEST TOTAL TAX SUMMARY OF ALL ACCOUNT(S) SUMMARY OF CURRENT YEAR TAX YEAR BASE TAX 2006 147.80 2006 294.42 2006 1,061.07 1,503.29 SUMMARY OF ALL TAXES DUE DUE 03/07 DUE 04/07 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 **********COMMENTS**********CAUTION**********READ BEFORE CLOSING********** DENTON COUNTY -COUNT Y REQUESTS THAT YOU SEND ONE (1) CHECK FOR ALL ENTITIES THEY COLLECT MADE PAYABLE TO DENTON COUNTY TAX ASSESSOR/COLLECTOR'S OFFICE CAD# DESC C37 G01 S11 CF1/PLU R-68610 A 1 003A R.D. PRICE, TRACT 6, ACRES 11.200, OLD DCAD TR #5 ABST/SUB 10 A 1003A ACREAGE 11.200 SITUS C37 MAIL 445 E FM 1382 STE 3295 CEDAR HILL TX 75104-6047 ASSESSED OWNER(S) M/LES MARYL YN DEED 1385745 LAND IMPROVEMENT TOTAL VALUE 2006 ASSESSED VALUES 63,728 o 63,728 ASSESSED AS LAND ONLY TAX ENTITY INFORMATION I DENTON COUNTY POBOX 90223 DENTON TX 76202 PHONE 972-434-8835 EXEMPTIONS NONE PAYMENTS AS OF 06 TAX RATE W/O EXEMPT 03/26/07 I 0.2319200 147.80 YR 06 SUBTOTAL BASE TAX 147.80 147.80 BASE DUE 0.00 0.00 DUE 03/07 DUE 04/07 *** PAID 02108/07 *** 0.00 0.00 file://C:\ WINDOWS\java\trustlib\txmesal \html\DENTON_2339000174_ T AX _ CERTIFIC... 3/Jv. I" Page 2 of2 PAGE 2 OF 2 TAX CERTIFICATE DATA TRACE 2229 AVE J, SUITE 101 ARLINGTON, TX 76006 817-261-8190 FAX 817-695-4121 CUST:~DAMERICA COMMONWEALTH BRANCH: GF#: 2339000174 CLOSER: SC ORDER TYPE: T ISOUTHLAKE CITY COLLECTED BY TARRANT CO 100 E WEATHERFORD FT WORTH TX 76196 PHONE 817-884-1100 C/TY TAX BASED ON TARRANT CAD TOTAL VALUE SUBTYPE:R DATE: 03/30/07 03/21/07 1 0.4620000 PAYMENTS AS OF 06 TAX RATE EXEMPTIONS NONE YR BASE TAX BASE DUE DUE 03/07 DUE 04/07 06264522/11.20 AC 06 294.42 0.00 ... PAID ... SUBTOTAL 294.42 0.00 0.00 0.00 IISD - NORTHWEST PAYMENTS AS OF 03/26/07 1 COll BY DENTON CO POBOX 90223 DENTON TX 76202 06 TAX RATE 1.6650000 PHONE 972434-8835 W/O EXEMPT 1,061.07 EXEMPTIONS NONE YR BASE TAX BASE DUE DUE 03/07 DUE 04/07 06 1,061.07 0.00 ... PAID 02108/07 ... SUBTOTAL 1,061.07 0.00 0.00 0.00 CERTIFICATION, CONDITIONS AND EXCLUSIONS THIS CERTIFIES THAT ALL AD VALOREM TAXES APPLICABLE TO THE ABOVE REFERENCED PROPERTY HAVE BEEN CHECKED AND FOUND TO HAVE THE STATUS INDICATED. 1. THIS CERTIFICATION DOES NOT COVER ANY CHANGES MADE TO THE TAX ROLL OR RECORDS AFTER THE "PAYMENT AS OF" DATES LISTED ABOVE. 2. THIS DOCUMENT DOES NOT CONSTITUTE A REPORT ON OR CERTIFICATION OF MINERAL (pRODUCTIVE AND NON-PRODUCTIVE) TAXES, LEASES, PERSONAL PROPERTY TAXES OR OTHER NON AD VALOREM TAXES (SUCH AS PAVING LIENS, STAND-BY CHARGES OR MAINTENANCE ASSESSMENTS). THESE ITEMS MAY BE INCLUDED FOR CONVENIENCE PURPOSES ONLY 3. THIS CERTIFICATE IS NOT TRANSFERRABLE AND IS ENFORCEABLE ONLY BY THE PARTY TO WHICH IT HAS BEEN ISSUED. PRINTED BY CF1/PLU file://C:\ WINDOWS\java\trustlib\txmesal \html\DENTON _2339000174_ T AX _ CERTIFIC... 3/30/2007 ~(O)(P)W COMMITMENT FOR TITLE INSURANCE Issued by Commonwealth land Title Insurance Company ~ ~ LandAmerica' .. Commonwealth Commonwealth Land Title Insurance Corporation is a member of the LandAmerica family of title insurance underwriters THE FOLLOWING COMMITMENT FOR TITLE INSURANCE IS NOT VALID UNLESS YOUR NAME AND THE POLICY AMOUNT ARE SHOWN IN SCHEDULE A, AND OUR AUTHORIZED REPRESENTATIVE HAS COUNTERSIGNED BELOW. We (COMMONWEALTH LAND TITLE INSURANCE 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 Policy and applicable endorsements is shown on Schedule D. There may be additional charges such as recording fees, and expedited delivery 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. COMMONWEALTH LAND TITLE INSURANCE COMPANY By: ~ ~ cA~LIA).. President Attest ~ Secretary 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 Schedule 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 S, 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 on 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. Commitment For Title Insurance - T-7 Form 1177-15 (Rev. 04/04/02) Valid only if Schedules A, Band C are attached COMMITMENT FOR TITLE INSURANCE SCHEDULE A Effective Date: Commitment No.: Not Applicable issued: May 9, 2007 (if applicable) 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: $1,050,000.00 PROPOSED INSURED: The City of South lake (b) TEXAS RESIDENTIAL OWNER POLICY OF TITLE INSURANCE - ONE- TO-FOUR FAMILY RESIDENCES (Form T-1 R) Policy Amount: PROPOSED INSURED: GF. No. 2339000174 (c) MORTGAGEE POLICY OF TITLE INSURANCE (Form T-2) Policy Amount: PROPOSED INSURED: Proposed Borrower: (d) TEXAS SHORT FORM RESIDENTIAL MORTGAGEE POLICY OF TITLE INSURANCE (Form T:-2R) Policy Amount: PROPOSED INSURED:. Proposed Borrower: (e) MORTGAGEE TITLE POLICY BINDER ON INTERIM CONSTRUCTION LOAN (Form T- 13) Binder Amount: PROPOSED INSURED: Proposed Borrower: (f) OTHER Policy Amount: PROPOSED INSURED: 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: MARYL YN MILES, aka MARYL YN ELIZABETH HARRISON 4. Legal description of the land: See Exhibit A Attached Commonwealth Land Title Insurance Company Form T-7: Commitment for Title Insurance Schedule A, Page 1 Continuation of Schedule A Order No. 2339000174 Exhibit A 11.734 acres of land situated in the R.D. Price Survey, Abstract No. 1003, City of Southlake, Denton County, Texas; said 11.734 acres of land being more particularly described by metes and bounds as follows: Beginning at a 1 inch iron rod found near a fence corner post at the Northeast corner of a tract of land described in the deed to Marilyn Tucker in Volume 1130, Page 141, Deed Records, Denton County, Texas, said iron rod also being the Northwest corner of a tract of land described in the deed to Marilyn Miles recorded in Volume 1385, page 745, DRDCT, said iron rod being an ell corner of a 60.8825 acre tract of land described in the deed to the City of South lake recorded in Volume 4311, page 2459, DRDCT, said iron rod also being the Northwest corner of that certain 79.5 acre tract of land referred to in deed to Alice J. Fretwell dated February 28,1931, Volume 251, Page 42, DRDCT; Thence South 87 degrees 25 minutes 38 seconds East, 795.91 feet (deed call South 86 degrees 38 minutes 38 seconds East, 767.06 feet along the North line of said Miles tract and a South line of I said 60.8825 City of Southlake tract to a Corps of Engineer monument found (Mon. No. C236-4) and the Northeast corner of said Miles tract; Thence South 00 degrees 52 minutes 35 seconds West, 671.84 feet (deed call South 01 degrees 35 minutes 43 seconds West, 672.0 feet) along a West line of a tract of land conveyed to the United States of America (Corps of Engineer) and along the East line of said Miles tract to its Southeast corner, a Corps of Engineer monument found (Mon. No. C236-3); Thence North 84 degrees 09 minutes 08 seconds West, 781.87 feet (deed call North 83 degrees 26 minutes West, 782.37 feet) along a North line of said USA tract and along the South line of said Miles tract to a Corps of Engineer monument found (Mon. No. C236-2) at the Southwest corner of said Miles Tract in the East'line of a tract of land conveyed to City of Southlake, Texas recorded in Volume 4021, Page 606, DRDCT; Thence North 00 degrees 38 minutes 31 seconds West, 627.87 feet (deed call North 02 degrees 45 minutes 25 seconds East, 627.90 feet) along the West line of said Miles tract and along the East line of a tract of land described in the deed to City of Southlake, Texas recorded in Volume 4021, Page 606, DRDCT passing a 1/2 inch iron rod found at 93.04 feet, a Southerly corner of the aforementioned 60.8825 acre tract and continuing along an East line of said 60.8825 acre tract of land to the point of beginning and containing 11.734 acres of land. NOTE: The Company is prohibited from insuring the area or quantity of the land described herein. Any statement in the legal description contained in Schedule "A" as to area or quantity of land is not a representation that such area or quantity is correct, but is made only for informal identification purposes and does not override Item 2 of Schedule "B" hereof. Commonwealth Land Title Insurance Company Form T-7: Commitment for Title Insurance Schedule A, Page 2 Order No.: 2339000174 COMMITMENT FOR TITLE INSURANCE SCHEDULE B EXCEPTIONS FROM COVERAGE In addition to the Exclusions and Conditions and Stipulations, your Policy will not cover loss, costs, attorneys' fees, and expenses resulting from: 1. Item 1, Schedule B is hereby deleted in its entirety. 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 Owner Policy only). 4. Any titles or rights asserted by anyone, including, but not limited to, persons, the public, corporations, gc;>vernments 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 I b. to lands beyond the line of 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 of vegetation, or the rights of access to that area or easement along and across that area. (Applies to the Owner Policy only.) 5. Standby fees, taxes and assessments by any taxing authority for the year 2007, and subsequent years; and subsequent taxes and assessments by any taxing authority for prior years due to change in land 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. (If Texas Short Form Residential Mortgagee Policy (T-2R) is issued, that policy will substitute "which become due and payable subsequent to Date of Policy" in lieu of "for the year 2007, and subsequent years.") 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 signing and delivering the lien document described in Schedule A, if the land is part of the homestead of the owner. (Applies to the Mortgagee Title Policy Binder on Interim Construction Loan only, and may be deleted if satisfactory evidence is furnished 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 Mortgagee Policy (T-2) only.) 9. The Exceptions from Coverage and Express Insurance in Schedule B of the Texas Short Form Residential Mortgagee Policy (T-2R). (Applies to Texas Short Form Residential Mortgagee Policy (T-2R) only. Separate exceptions 1 through 8 of this Schedule B do not apply to the Texas Short Form Residential Mortgagee Policy (T-2R). 10. The following matters and all terms of the documents creating or offering evidence of the matters Commonwealth Land Title Insurance Company Form T-7: Commitment for Title Insurance Schedule S, Page 3 Continu3tion of Schedule B Order No. 2339000174 (We must insert matters or delete this exception.): a. Rights of parties in possession. (Owner's Title Policy only) b. Rights of tenants in possession under unrecorded leases or rental agreements. c. ~~) .7 d. Terms, conditions and stipulations contained in Oil, Gas or Mineral Lease /' .J between J. D. Jones, to S. A. Wall, dated May 4,1918, filed January 27,1919, \-.- . recorded in/under Volume 161, page 406 of the Real Property Records of 0' DENT~N County, Texas. . \;\jY~ ~/K ~ Intentionally deleted. Commonwealth Land Title Insurance Company Form T-7: Commitment for Title Insurance Schedule B, Page 4 Order No.: 2339000174 COMMITMENT FOR TITLE INSURANCE SCHEDULE C Your Policy will not cover loss, costs, attorneys' fees, and expenses resulting from the following requirements that will appear as Exceptions in Schedule 8 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: a. no person occupying the land claims any interest in that land against the persons named in paragraph 3 of Schedule A, b. all standby fees, taxes, assessments and charges against the property have been paid, c. 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, I 3. 4. Q ~ ~ d. there is legal right of access to and from the land, e. (on a Mortgagee Policy only) restrictions have not been and will not be violated that affect the validity and priority of the insured mortgage. You must pay the seller or borrower the agreed amount for your property or interest. 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. Appears to be clear of liens. Company requires Lien Affidavit. Failure of the above described property to have a right of access to a public street or road. Provide evidence of legal right of access for examination or insert appropriate exception in any Policy(ies). Intentionally deleted. Company requires evidence of the marital status of Marilyn Miles as of April 23, 1984. If Marilyn Miles was married and is now single, or was married to a different spouse, Company requires sufficient information to determine the status of any outstanding community interest for purposes of the joinder of additional parties, if necessary. Company requires the joinder of spouse, if any, in any conveyance of homestead property. Commonwealth Land Title Insurance Company Form T-7: Commitment for Title Insurance Schedule C, Page 5 Order No.: 2339000174 COMMITMENT FOR TITLE INSURANCE SCHEDULE D G.F. No. or File No. 2339000174 Effective Date: 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: 1. The following individuals are directors and/or officers, as indicated, of the Title Insurance Company issuing this Commitment Commonwealth Land Title Insurance Company is a wholly owned subsidiary of LandAmerica Financial Group, Inc., a Nebraska Corporation whose securities are publicly traded on the New York Stock Exchange. Commonwealth Land Title Insurance Company's Officers and Directors are as follows: OFFICERS Theodore L. Chandler, Jr., Chairman of The Board G. William Evans, Senior Executive Vice President Kenneth Astheimer, Executive Vice President Paul M. Bedel, Executive Vice President Ross W. Dorneman, Executive Vice President Margaret M. Foster, Executive Vice President Michelle H. Gluck, Executive Vice President & General Counsel Melissa A. Hill, Executive Vice President John A. Magness, Executive Vice President Glyn J. Nelson, Executive Vice President John M. Obzud, Executive Vice President Lynn M. Riedel, Executive Vice President Jeffrey C. Selby, Executive Vice President James E. Sindoni, Executive Vice President Jeffrey D. Vaughan, Executive Vice President Marcy A. Welburn, Executive Vice President Ronald B. Ramos, Senior Vice President, Assistant Secretary & Treasurer Christine Vlahcevic, Senior Vice President & Chief Financial Officer Anna M. King, Vice President, Secretary & Corporate Counsel DIRECTORS Theodore L. Chandler, Jr. G. William Evans Kenneth Astheimer Lawrence F. Harr Melissa A. Hill Glyn J. Nelson Jeffrey C. Selby 2. The following disclosures are made by the Title Insurance Agent issuing this commitment pursuant to Rule P-21. LandAmerica Commonwealth Title of Fort Worth, Inc., a 100% wholly owned subsidiary of Commonwealth Land Title Insurance Company. OFFICERS Dennis Karro - President Elyn McCall - Senior Vice President Linda Olson - Senior Vice President Linda Molenaar - Vice President Tracie Fleming - Vice President Linda M. Workman - Vice President Ronald B. Ramos - Senior Vice President and Treasurer Holly H. Wenger - Senior Vice President and Corporate Counsel Anna M. King - Vice President, Corporate Counsel and Secretary DIRECTORS Dennis Karro John A. Magness Ronald B. Ramos 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. You are further advised that the estimated title premium- is: Owners Policy $5,869.00 Mortgagee Policy $0.00 Endorsements $0.00 Other $ Total $5,869.00 Of this total amount: 15% will be paid to the policy issuing Title Insurance Company: 85% will be retained by the issuing Title Insurance Agent; and the remainder of the estimated premium will be paid to other parties as follows: Amount 45.00% To Whom Michael S. Newman For Services closing & funding Commonwealth Land Title Insurance Company Form T-7: Commitment for Title Insurance Schedule D, Page 6 Order No. 2339000174 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. This commitment is invalid unless the insuring provisions and Schedules A, B, and C are attach Commonwealth Land Title Insurance Company Form T-7: Commitment for Title Insurance Schedule C, Page 7 Order No. 2339000174 TEXAS TITLE INSURANCE INFORMATION Title insurance insures you against loss resulting from certain risks to your title. EI segura de titulo Ie asegura en relacion a perdidas resultantes de ciertos riesgos que pueden afectar el titulo de su propiedad. The Commitment for Title Insurance is the title insurance company's promise to issue the title insurance policy. The Commitment is a legal document. You should review it carefully to completely understand it before your closing date. EI Compromiso para Seguro de Titulo es la promesa de la compania aseguradora de titulos de emitir la poliza de seguro de titulo. EI Compromiso es un documento legal. Usted debe leerio cuidadosamente y entendario completamente antes de la fecha para finalizar su transaccion. Your Commitment for Title Insurance is a legal contract between you and us. The Commitment is not an opinion or report of your title. It is a contract to issue you a policy subject to the Commitment's terms and requirements. Before issuing a Commitment for Title Insurance (the Commitment) or a Title Insurance Policy (the Policy), the Title Insurance Company (the Company) determines whether the title is insurable. This determination has already been made. Part of that determination involves the Company's decision to insure the title except for certain risks that will not be covered by the Policy. Some of these risks are listed in Schedule B of the attached Commitment as Exceptions. Other risks are stated in the Policy as Exclusions. These risks will not be covered by the Policy. Another part of the determination involves whether the promise to insure is conditioned upon certain requirements being met. Schedule C of the Commitment lists these requirements that must be satisfied or the Company will refuse to cover them. You may want to discuss any matters shown on Schedules B and C of the Commitment with an attorney. These matters will affect your title and your use of the land. When your Policy is issued, the coverage will be limited by the Policy's Exceptions, Exclusions and Conditions, defined below. - EXCEPTIONS are title risks that a Policy generally covers but does not cover in a particular instance. Exceptions are shown on Schedule B or discussed in Schedule C of the Commitment. They can also be added if you do not comply with the Conditions section of the Commitment. When the Policy is issued, all Exceptions will be on Schedule B of the Policy. - EXCLUSIONS are title risks that a Policy generally does not cover. Exclusions are contained in the Policy but not shown or discussed in the Commitment. - CONDITIONS are additional provisions that qualify or limit your coverage. Conditions include your responsibilities and those of the Company. They are contained in the Policy but not shown or discussed in the Commitment. The Policy Conditions are not the same as the Commitment Conditions. You can get a copy of the policy form approved by the State Board of Insurance by calling the Title Insurance Company at or by calling the title insurance agent that issued the Commitment. The State Board of Insurance may revise the policy form from time to time. You can also get a brochure that explains the Policy from the Texas Department of Insurance by calling 1- 800-252-3439. Before the Policy is issued, you may request changes in the Policy. Some of the changes to consider are: Commonwealth Land Title Insurance Company Form T-7: Commitment for Title Insurance Page 8 Order No. 2339000174 - Request amendment of the "area and boundary" exception (Schedule S, paragraph 2). To get this amendment, you must furnish a surveyor comply with other requirements of the Company. On the Owner Policy, you must pay an additional premium for the amendment. If the survey is acceptable to the Company or if the Company's other requirements are met, your Policy will insure you against loss because of discrepancies or conflicts in boundary lines, encroachments or protrusions, or overlapping of improvements. The Company may then decide not to insure against specific boundary or survey problems by making special exceptions in the Policy. Whether or not you request amendment of the "area and boundary" exception, you should determine whether you want to purchase and review a survey if a survey is not being provided to you. - Allow the Company to add an exception to "rights of parties in possession." If you refuse this exception, the Company or the title insurance agent may inspect the property. The Company may except to and not insure you against the rights of specific persons, such as renters, adverse owners or easement holders who occupy the land. The Company may charge you for the inspection. If you want to make your own inspection, you must sign a Waiver of Inspection form and allow the Company to add this exception to your Policy. The entire premium for a Policy must be paid when the Policy is issued. You will not owe any additional premiums unless you want to increase your coverage at a later date and the Company agrees to add an Increased Value Endorsement. Commonwealth Land Title Insurance Company Form T-7: Commitment for Title Insurance Page 9 Order No. 2339000174 IMPORTANT NOTICE AVISO IMPORTANTE FOR INFORMATION, OR TO MAKE A COMPLAINT, CALL OUR TOLL-FREE TELEPHONE NUMBER (800) 925-0965 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 PARA INFORMACION, 0 PARA SOMETER UNA QUEJA LLAME AL NUMERO GRATIS (800) 925-0965 TAMBIEN PUEDE COMUNICARSE CON EL DEPARTAMENTO DE SEGUROS DE TEXAS AL 1- 800-252-3439 para obtoner informacion sobre: 1. como someter una queja en contra de una campania de seguros 0 agente de seguros, 2. si una compania de seguros 0 agente de seguros tiene Iicencia, 3. quejas recibidas en contra de una compania de seguros 0 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.O. Box 149104 Austin, Texas 78714-9104 FAX No. (512) 475-1771 THE FOLLOWING COMMITMENT FOR TITLE INSURANCE IS NOT VALID UNLESS YOUR NAME AND THE POLICY AMOUNT ARE SHOWN IN SCHEDULE A, AND OUR AUTHORIZED REPRESENTATIVE HAS COUNTERSIGNED BELOW. Commonwealth Land Title Insurance Company Form T-7: Commitment for Tille Insurance Page 10 Order No. 2339000174 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 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, 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 $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 the Date of Policy shall be binding upon the parties. The award may include attorneys' 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. Signature Date Commonwealth Land Title Insurance Company Form T-7: Commitment for Title Insurance Page 11 .. ~(Q)~W Order No. 2339000174 TAX PRORATION AGREEMENT AND DISCLOSURES Date: May 16, 2007 Buyer: The City of Southlake 1400 Main Street South lake, TX 76092 Seller: Marylyn Elizabeth (Harrison) Miles 445 E. 1382, #3295 Cedar Hills, TX 75104 Property: See Exhibit A Attached Seller has sold the Property to Buyer and as part of the sett~ent of this transaction, 1. Ad valorem real property taxes for the current year lIcl1fave D have not been prorated between the I parties. 2. Personal proper!t taxes, if any, as to any inventory, mobile home or other personal property situated on the Property U have D have not been prorated between the parties. 3. Disclosures: D Proration of taxes, if any, is based on tax information for the current year. D Proration of taxes, if any, is based on tax information from the prior year, the current year's tax status not yet being available. D Taxes on the Property for the prior year did not include the value of any NEW CONSTRUCTION. Proration of taxes for the current year is based on information provided by the appraisal district that the property will be taxed as D Unimproved D Partially improved D Fully improved D Taxes on the property are currently based on an OVER 65 exemption which will not be allowed for the remainder of the current year. Proration of taxes is based on the exemption through settlement, but should not be used to estimate taxes for the full current year, nor for subsequent years. D Taxes on the property are currently based on an AGRICULTURAL, OPEN SPACE OR FOREST LAND valuation and may be subject to ROLLBACK, with additional taxes becoming due for the current and/or prior years. D Taxes on the Property are currently based on a description that appears to contain more land area than the Property, as conveyed, appears to contain. This could result in the imposition of a SUPPLEMENTAL TAX BILL for the current and/or prior years. D Some or all of the Property is not currently being taxed as an independent tax tract or tracts. It is unlikely that the taxing authority(ies) will recognize the Property independently for the current year's taxes and, therefore, NEITHER BUYER NOR SELLER MAY INDEPENDENTLY PAY TAXES FOR THE CURRENT YEAR ON THEIR INDIVIDUAL PORTIONS OF LAND. 4. LandAmerica Commonwealth Title of Fort Worth, Inc. (Settlement Agent) can neither guarantee the accuracy of the tax information provided to it by third parties, nor of any good-faith estimates upon which tax prorations may have been made. 5. The amount of escrow collected at closing for future payment of taxes (Tax Escrow) is determined by Lender, not by Settlement Agent. Tax Proration Agreement & Disclosures Page 1 of 3 Rev. 01/07 Order No. 2339000174 6. Settlement Agent assumes no responsibility for notifying taxing entities of this transaction, nor for assisting Buyer with application for any exemptions or special valuations. 7. Personal property: Neither title to nor taxes on items of personal property are covered by title insurance. 8. Escrowed Funds: All funds received in this transaction shall be deposited with other funds in one or more non-interest bearing escrow accounts of Escrow Agent in a state or national bank selected by Escrow Agent. Escrow Agent shall have no obligation to account to the parties to this transaction in any manner for the value of, or pay to such party any benefit received by Escrow Agent, directly or indirectly, by reason of the deposit of any such funds or the maintenance of such accounts with such bank. Those benefits may include, without limitation, credits allowed by such bank on loans to Escrow Agent's parent company and on accounting, reporting and other services. All parties depositing funds in connection with this escrow are hereby notified that the funds so deposited are insured only to the limit provided by the Federal Deposit Insurance Corporation. Agreement: o Buyer and Seller agree and hereby instruct Settlement Agent to use the following estimated amount(s) for proration of taxes for the current year: o Seller and Buyer agree and hereby instruct Settlement Agent to perform NO PRORA TI'ON of taxes for the current year - AND - o SELLER AND BUYER AGREE TO COOPERATE to pay the taxes for the current year on the Property at such time as the tax bills are issued and before they become delinquent, each paying their prorated portion, Settlement Agent having no liability therefor. o Seller and Buyer agree that SELLER WILL BE FULLY RESPONSIBLE for payment of taxes for ~the current year on the Property at such time as the tax bills are issued and before they become delinquent, Settlement Agent having no liability therefor. Seller and Buyer agree that BUYER WILL BE FULLY RESPONSIBLE for payment of taxes for the current year on the Property at such time as the tax bills are issued and before they become delinquent, Settlement Agent having no liability therefor. 9. In the event actual taxes for current year are determined to be more or less than the figures used by Settlement Agent for estimates or prorations or by lender for Tax Escrow, Seller and Buyer agree to adjust any differences between and among themselves and/or Lender, and to hold Settlement Agent harmless from any liability therefor. 10. Should a bill for Supplemental Tax(es) for prior years be issued on the Property, Seller agrees to immediately pay such taxes and to indemnify and hold harmless Settlement Agent, Commonwealth Land Title Insurance Company (Underwriter), and its Agent. 11. Buyer and Seller agree to indemnify and hold harmless Settlement Agent, Commonwealth Land Title Insurance Company (Underwriter), and its Agent with regard to any Rollback Tax s) for prior years. Tax Proration Agreement & Disclosures Page 2 of 3 Rev. 01/07 ~ Order No. 2339000174 Exhibit A 11.734 acres of land situated in the R.D. Price Survey, Abstract NO.1 003, City of Southlake, Denton County, Texas; said 11.734 acres of land being more particularly described by metes and bounds as follows: Beginning at a 1 inch iron rod found near a fence corner post at the Northeast corner of a tract of land described in the deed to Marilyn Tucker in Volume 1130, Page 141, Deed Records, Denton County, Texas, said iron rod also being the Northwest corner of a tract of land described in the deed to Marilyn Miles recorded in Volume 1385, page 745, DR OCT, said iron rod being an ell corner of a 60.8825 acre tract of land described in the deed to the City of South lake recorded in Volume 4311, page 2459, DRDCT, said iron rod also being the Northwest corner of that certain 79.5 acre tract of land referred to in deed to Alice J. Fretwell dated February 28, 1931, Volume 251, Page 42, DRDCT; Thence South 87 degrees 25 minutes 38 seconds East, 795.91 feet (deed call South 86 degrees 38 minutes 38 seconds East, 767.06 feet along the North line of said Miles tract and a South line of said 60.8825 City of Southlake tract to a Corps of Engineer monument found (Mon. No. C236-4) and the Northeast corner of said Miles tract; Thence South 00 degrees 52 minutes 35 seconds West, 671.84 feet (deed call South 01 degrees 35 minutes 43 seconds West, 672.0 feet) along a West line of a tract of land conveyed to the United States of America (Corps of Engineer) and along the East line of said Miles tract to its Southeast corner, a Corps of Engineer monument found (Mon. No. C236-3); Thence North 84 degrees 09 minutes 08 seconds West, 781.87 feet (deed call North 83 degrees 26 minutes West, 782.37 feet) along a North line of said USA tract and along the South line of said Miles tract to a Corps of Engineer monument found (Mon. No. C236-2) at the Southwest corner of said Miles Tract in the East line of a tract of land conveyed to City of South lake, Texas recorded in Volume 4021, Page 606, DRDCT; Thence North 00 degrees 38 minutes 31 seconds West, 627.87 feet (deed call North 02 degrees 45 minutes 25 seconds East, 627.90 feet) along the West line of said Miles tract and along the East line of a tract of land described in the deed to City of Southlake, Texas recorded in Volume 4021, Page 606, DRDCT passing a 1/2 inch iron rod found at 93.04 feet, a Southerly corner of the aforementioned 60.8825 acre tract and continuing along an East line of said 60.8825 acre tract of land to the point of beginning and containing 11.734 acres of land. NOTE: The Company is prohibited from insuring the area or quantity of the land described herein. Any statement in the legal description contained in Schedule "A" as to area or quantity of land is not a representation that such area or quantity is correct, but is made only for informal identification purposes and does not override Item 2 of Schedule "8" hereof Tax Proration Agreement & Disclosures Page 3 of 3 Rev. 01/07 .~ . Order No. 2339000174 ~(Q)tpJV , NON-REPRESENTATION NOTICE Date: May 16, 2007 The City of South lake 1400 Main Street South lake, TX 76092 Marylyn Elizabeth (Harrison) Miles 445 E. 1382, #3295 Cedar Hills, TX 75104 RE: Order No.: Buyer/Borrower( s): Seller(s): Property Address: 2339000174 The City of Southlake Marylyn Elizabeth (Harrison) Miles' Mud Hen Road, Southlake, TX 76092 I have represented and/or LandAmerica Commonwealth Title of Fort Worth, Inc. in the preparation of legal documents for use in closing the above-referenced transaction. While I have acted solely on behalf of and/or LandAmerica Commonwealth Title of Fort Worth, Inc., Buyer/Borrower(s) and Seller(s) acknowledge that the legal fees incurred in preparing the legal documents will be paid by the buyer or the seller even though I have not in any manner undertaken to assist or render legal advice to the buyer or the seller, except in the preparation of the legal documents. The buyer and the seller further acknowledge and understand that they may retain independent legal counsel to represent their individual interests in the referenced transaction. The buyer and the seller specifically recognize that I do not have the responsibility to provide any truth-in-Iending disclosures, any other truth-in-Iending documents, or any other documents required by any regulations that apply to this transaction. The lender is responsible for providing those documents, and no charge may be made for providing them. Please sign below to acknowledge that you have been advised of my representation of the and/or LandAmerica Commonwealth Title of Fort Worth, Inc. and that you understand that I am not your attorney. Attorney Non-Representation Notice - Doc Prep Page 1 of 2 Rev. 09/03 . ~ Buyer The City of South lake Seller r ~ '" Order No. 2339000174 AFFIDAVIT OF W~~ON (Made by Mineral Owner) May 16, 2007 Mineral Owner: SA Wall Whether one or more, the first-person singular form shall be used herein and shall refer to each and every owner identified above. Oil and Gas Lease: Date: Recorded: Lessor: Lessee: Property As set forth in said lease. Term of the lease: (Insert number of years or other term as specified in the lease) and as long thereafter as oil, gas, or other minerals are produced. I Mineral Owner (or Affiant on behalf of Mineral Owner) on oath swears that the following statements are true and are within the personal knowledge of each of them. 1. My full legal name is set out above and I am over the age of eighteen years. 2. Mineral Owner is the owner of a mineral interest in and to the Property described above. 3. ProductiJ.<<"history: [B' No drilling operations were begun during the term of the lease. No oil, gas, or any other mineral has previously been produced from the Property during the term of the lease. No oil, gas, or other mineral is now being produced from the Property. o Drilling operations were conducted during the term of the lease, but no oil, gas, or any other mineral has previously been produced from the Property during the term of the lease. No oil, gas, or other mineral is now being produced from the Property. o Drilling operations were conducted during the term of the lease. Oil, gas, or other minerals have previously been produced from the Property during the term of the lease, but no oil, gas, or other mineral is now being produced from the Property. 4. This affidavit is to establish of record that the Oil and Gas Lease expired by its terms on (Insert expiration date according to lease). 5. Anyone concerned with title to the Property may rely on these statements. 6. I agree to indemnify and hold Commonwealth Land Title Insurance Company, Underwriter, and its Agent harmless from any loss or expense, including reasonable attorney fees, resulting from false or i orre 'nform I n'n this affidavit. Non-Production Affidavit Page 1 of 2 Rev. 05/03 ~ . . .. Order No. 2339000174 '~~';$tf~ ~.: -:*} \.... O'#.. ';f~/"'\\f," ""ll",'" SANDY J. CROSS MY COMMISSION EXPIRES November 4, 2010 - ! Notary State of: County of: Expires: SIGNED under oath before me on ........~..,I'y~.,.... .-'J;l . 'O'f;< i*: :*! ... ..... ~~. ..-.,i ....'~rW:I~...... SANDY J, CROSS MY COMMISSION EXPIRES November 4, 2010 Non-Production Affidavit Page 2 of 2 Rev. 05/03 ~(Q)~W Order No. 2339000174 AFFIDAVIT OF MARITAL STATUS Date: May 15, 2007 Affiant: MARYL YN ELIZABETH (HARRISON) MILES Property: See Exhibit A Attached Date of Acquisition: .J ~;)!I-Iqff Affiant on oath swears that the following statements are true and are within the personal knowledge of Affiant: 1. My full legal name is as set forth above and I am over the age of eighteen years. 2. I currently reside at 807 Tangleway Court, Cedar Hill, TX 75104 3. I acquired title to the Property on the Date of Acquisition. 4. Marital status on Date of Affidavit 0' I am unmarried. D I am married to (Insert name of Current Spouse), Current Spouse, which marriage took place on (Insert date of marriage to Current Spouse.) 5. Marital status on Date of Acquisition o I was unmarried. D I was married to my Current Spouse. D I was married to (Insert name of spouse on Date of Acquisition, if other than current spouse). 6. Marital status from Date of Acquisition to Date of Affidavit 0' I have remained unmarried from Date of Acquisition through Date of Affidavit. D I have remained married to my Current Spouse from Date of Acquisition through Date of Affidavit. D I married my Current Spouse on the date shown in #4 above, and we have remained married to each other from then through Date of Affidavit. D Other marriages (give details for all): D I was married to (Insert name of previous spouse #1), which marriage terminated by D death D divorce on (Insert date of death or divorce from previous spouse #1). D I was married to (Insert name of previous spouse #2), which marriage terminated by D death D divorce on (Insert date of death or divorce from previous spouse #2). D I was married to (Insert name of previous spouse #3), which marriage terminated by D death D divorce on (Insert date of death or divorce from previous spouse #3). 7. I have no marriages, from and including Date of Acquisition to and including Date of Affidavit, other than those set out above. During that time, I did not agree to marry any person, nor represent to others that such a marriage existed, nor live together with any person as if married. 8. Anyone concerned with title to the Property may rely on these statements. Marital Status Affidavit Page 1 of 3 Rev. 05/03 Order No. 2339000174 9. I agree to indemnify and hold Commonwealth land Title Insurance Company, Underwriter, and its Agent harmless from any loss or expense, including reasonable tome es, resultin om f I or incorrect information in this affidavit. I , ,,\,"~I'~"'I .~*;\tI\..~ ;.: :*~ ~ . . .. -. . ... ~lJ}:.. .~~ ;"~:'~'I~i'l~~'"'' SANDY J. CROSS MY COMMISSION EXPIRES November 4,2010 /Kotary Na . '~ateof: _____- CoUl;~ Expires: ./ SIGNED under oath before me on STATE OF TEXAS COUNTY OF DENTON This in~trument was acknowledged before me on ELIZABETH (HARRISON) MilES. .1.w:'!A~'rJ:a:'" .:'-c:.' -.~.., ~*f ri '~'. .'~~ ....;:3;,?r:,~~.. SANDY J. CROSS MY COMMISSION EXPIRES November 4, 2010 Marital Status Affidavit Page 2 of 3 Rev. 05/03 Order No. 2339000174 Exhibit A 11.734 acres of land situated in the R. D. Price Survey, Abstract NO.1 003, City of Southlake, Denton County, Texas; said 11.734 acres of land being more particularly described by metes and bounds as follows: Beginning at a 1 inch iron rod found near a fence corner post at the Northeast corner of a tract of land described in the deed to Marilyn Tucker in Volume 1130, Page 141, Deed Records, Denton County, Texas, said iron rod also being the Northwest corner of a tract of land described in the deed to Marilyn Miles recorded in Volume 1385, page 745, ORDCT, said iron rod being an ell corner of a 60.8825 acre tract of land described in the deed to the City of South lake recorded in Volume 4311, page 2459, ORDCT, said iron rod also being the Northwest corner of that certain 79.5 acre tract of land referred to in deed to Alice J. Fretwell dated February 28, 1931, Volume 251, Page 42, DRDCT; Thence South 87 degrees 25 minutes 38 seconds East, 795.91 feet (deed call South 86 degrees 38 minutes 38 seconds East, 767.06 feet along the North line of said Miles tract and a South line of said 60.8825 City of Southlake tract to a Corps of Engineer monument found (Mon. No. C236- 4) and the Northeast corner of said Miles tract; Thence South 00 degrees 52 minutes 35 seconds West, 671.84 feet (deed call South 01 degrees 35 minutes 43 seconds West, 672.0 feet) along a West line of a tract of land conveyed to the United States of America (Corps of Engineer) and along the East line of said Miles tract to its Southeast corner, a Corps of Engineer monument found (Mon. No. C236-3); Thence North 84 degrees 09 minutes 08 seconds West, 781.87 feet (deed call North 83 degrees 26 minutes West, 782.37 feet) along a North line of said USA tract and along the South line of said Miles tract to a Corps of Engineer monument found (Mon. No. C236-2) at the Southwest corner of said Miles Tract in the East line of a tract of land conveyed to City of Southlake, Texas recorded in Volume 4021, Page 606, DR OCT; Thence North 00 degrees 38 minutes 31 seconds West, 627.87 feet (deed call North 02 degrees 45 minutes 25 seconds East, 627.90 feet) along the West line of said Miles tract and along the East line of a tract of land described in the deed to City of Southlake, Texas recorded in Volume 4021, Page 606, DRDCT passing a 1/2 inch iron rod found at 93.04 feet, a Southerly corner of the aforementioned 60.8825 acre tract and continuing along an East line of said 60.8825 acre tract of land to the point of beginning and containing 11.734 acres of land. NOTE: The Company is prohibited from insuring the area or quantity of the land described herein. Any statement in the legal description contained in Schedule "A" as to area or quantity of land is not a representation that such area or quantity is correct, but is made only for informal identification purposes and does not override Item 2 of Schedule "B" hereof Marital Status Affidavit Page 3 of 3 Rev. 05/03 '. MEMORANDUM OF AGREE This Memorandum of Agreement is entered into on this 17th of M between the City of Southlake ("City"), 1400 Main Street, Southlake, Texas Marylyn Elizabeth (Harrison) Miles ("Miles"), 445 E. 1382, #3295, Cedar Hill, 1. The City and Miles entered into a Contract for Sale on the 1 st day of May, 2007, by which Miles agreed to sell to the City a tract of land as described on Exhibit "A" to this Memorandum of Agreement. 2. The Contract of Sale contains the following provision: "5.02 Seller's Status. Purchaser agrees that Seller shall be treated as having Southlake resident status for the purposes of making reservations and use of Bob Jones Park for her lifetime." 3. The parties intend for Section 5.02 of the Contract of Sale to survive the closing of the sale of the property described in Exhibit "A" to this Memorandum of Agreement to the City, and by this Memorandum of Agreement reaffirm that understanding. IN WITNESS WHEREOF, the parties have executed this Memorandum of Agreement as of the day and year first above written. CITY OF SOUTHLAKE: After recording, please return this document to: City of Southlake 1400 Main Street South lake, Texas 76092 Attn.: City Manager W:\SOUTHLAKEIAGREEMENTS\MEMORANDUM OF AGREEMENT -- MILES. DOC Page 1 of 2 1 ACKNOWLEDGMENT STATE OF TEXAS ~ ~ COUNTY OF TARRANT ~ . "...J. OOf'l ,", ~~~ Before me on this day personally appeared M+ U l~^ 'WI", ~nown to me [or proved to me on the oath of htough~7Y\,~ COA. '-.e (description of identity card or other document)] to be the person whose name is subscribed to the foregoing instrument and acknowledge to1'f1e1Fiat he execat d the same for the purposes and consideration therein expresse . rt1 Given under my hand and seal of offi da 0 " --~~'\!\~~' (*[. /) ...~~....~~ ....l' I,W,.,' . CROSS MY COMMISSION EXPIRES November4,2010 Notary's Name Printed, ACKNOWLEDGMENT 5T ATE OF TEXAS ~ ~ COUNTY OF TARRANT ~ Before me on this day personally appeared , known to me [or proved to me on the oath of or through (description of identity card or other document)] to be the person whose name is subscribed to the foregoing instrument and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office this day of ,2007. (SEAL) Notary Public, State of Texas Notary's Name Printed W:ISOUTHlAKEIAGREEMENTSIMEMORANDUM OF AGREEMENT -- MllES.DOC Page 2 of 2 . \ NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING INFORMA nON FROM THIS INSTRUMENT BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER. General Warranty Deed Date: May 17,2007 Grantor: Marylyn Elizabeth Miles f/k/a Marylyn Elizabeth Harrison Grantor's Mailing Address: 445 East F.M. 1382 #3296 Cedar Hill, Texas 75104 Dallas County Grantee: City of Southlake, a home rule municipal corporation in Tarrant County, Texas Grantee's Mailing Address: 1400 Main Street, Southlake, Texas 76092 Tarrant County Consideration: Cash and other good and valuable consideration, the receipt and sufficiency of which are hereby I acknowledged. Property (including any improvements): THE SURFACE RIGHTS ONLY IN AND TO THE REAL PROPERTY DESCRIBED IN EXHIBIT A A TT ACHED HERETO~ Reservations from Conveyance: Grantor hereby reserves and excepts from this conveyance, and retains for Grantor and Grantor's heirs, successors and assigns forever, all oil, gas, and other minerals ih and tinder and that may be produced from the property (the "Mineral Interest"). If the Mineral Interest is subject to existing production or an existing lease, this reservation includes the production, lease, and all benefits from it. Grantor hereby waives and releases any and all rights, title, interests, easements, rights-of-way and privileges, of every kind and character which Grantor has or may have to use or utilize, or to permit others to use or utilize, in any manner the surface of the Property or any part thereof, including, without limitation, the right to use the surface of the property or any part thereof for investigating, exploring by geological, geophysical and other methods, prospecting, drilling, mining, operating, producing, saving, transporting, storing or treating oil, gas and all other minerals, of every kind and character, whether similar or dissimilar, known or unknown, in, on, under and which may be discovered, mined, produced or recovered from the Property or any portion thereof. Grantor waives and releases its right of ingress and egress to the Property, its right to conduct any type of investigation on the surface, including, without limitation, any type of seismic operations, its right to use any portion of the surface of the Property for the drilling of any well, or for the storage or transportation of oil, gas or other minerals of any kind, and its right to lay pipeline across the Property or any portion thereof. Nothing herein however, restricts or prohibits the pooling or unitization ofthe Mineral Interest with land other than the Property; or the exploration or production of the oil, gas, and other minerals by means of wells that are drilled or mines that are opened on land other than the Property that enter or bottom under the Property, provided that these operations in no manner interfere with the surface or subsurface support of any improvements constructed or to be constructed on the Property. Exceptions to Conveyance and Warranty: Standby fees, taxes, and assessments by any taxing authority for the year 2007 and subsequent years, and validly existing utility easements created by the dedication deed or plat of the subdivision in which the Property is located. Grantor, for the Consideration and subject to the Reservations from Conveyance and the Exceptions to Conveyance and Warranty, grants, sells, and conveys to Grantee the Property, together with all and singular the rights and appurtenances thereto in any way belonging, to have and to hold it to Grantee and Grantee's heirs, successors, and WARRANTY DEED \ Z:\Data\ WORD\PRODOC\miles-# 1 b.rtf Page - 1 - assigns forever. Grantor binds Grantor and Grantor's heirs and successors to warrant and forever defend all and singular the Property to Grantee and Grantee's heirs, successors, and assigns against every person whomsoever lawfully claiming or to claim the same or any part thereof, except as to the Reservations from Conveyance and the Exceptions to Conveyance and Warranty. When the context requires, singular nouns and pronouns include the p ra!. STATE OF TEXAS This instrument was acknowledged before me on May 17,2007, by Marylyn Elizabeth Miles f/k/a Marylyn Elizabeth Harrison. ~~ '~.;~< i\\~7"..;j ......)O~....;i;.;.:,.... --.,..?I",." SANDY J. CROSS MY COMMISSION EXPIRES November 4, 2010 ~~il\;:CLOr of t'ubllc t'VUlb- €i~y efSewthlraki, T~v"c . ~~ g~Qic:itiefl i:J aeGcl't"d by lite Llty Man<l5d, Cif) oH:enthhke Texas: - ~~:ilnn" V"lverton City Manager Cit) efSvulhlak", nma~_ PREPARED IN THE OFFICE OF: Michael S. Newman, Attorney at Law 9288 Huntington Square, Suite 200 North Richland Hills, Texas 76180 Tel: (817) 656-8100 Fax: (817) 577-0022 AFTER RECORDING RETURN TO: City of Southlake 1400 Main Street Southlake, Texas 76092 WARRANTY DEED \ Z:IData\ WORD\PRODOC\miles-# I b.rtf Page - 2 - Order No. 2339000174 Exhibit A 11.734 acres of land situated in the R.D. Price Survey, Abstract No. 1003, City of Southlake, Denton County, Texas; said 11.734 acres of land being more particularly described by metes and bounds as follows: Beginning at a 1 inch iron rod found near a fence corner post at the Northeast corner of a tract of land described in the deed to Marilyn Tucker in Volume 1130, Page 141, Deed Records, Denton County, Texas, said iron rod also being the Northwest corner of a tract of land described in the deed to Marilyn Miles recorded in Volume 1385, page 745, DRDCT, said iron rod being an ell corner of a 60.8825 acre tract of land described in the deed to the City of Southlake recorded in Volume 4311, page 2459, DRDCT, said iron rod also being the Northwest corner of that certain 79.5 acre tract of land referred to in deed to Alice J. Fretwell dated February 28,1931, Volume 251, Page 42, DRDCT; Thence South 87 degrees 25 minutes 38 seconds East, 795.91 feet (deed call South 86 degrees 38 minutes 38 seconds East, 767.06 feet along the North line of said Miles tract and a South line of said 60.8825 City of Southlake tract to a Corps of Engineer monument found (Mon. No. C236-4) and the Northeast corner of ~aid Miles tract; Thence South 00 degrees 52 minutes 35 seconds West, 671.84 feet (deed call South 01 degrees 35 minutes 43 seconds West, 672.0 feet) along a West line of a tract of land conveyed to the United States of America (Corps of Engineer) and along the East line of said Miles tract to its Southeast corner, a Corps of Engineer monument found (Mon. No. C236-3); Thence North 84 degrees 09 mfnutes 08 seconds West, 781.87 feet (deed call North 83 degrees 26 minutes West, 782.37 feet) along a North line of said USA tract and along the South line of said Miles tract to a Corps of Engineer monument found (Mon. No. C236-2) at the Southwest corner of said Miles Tract in the East line of a tract of land conveyed to City of Southlake, Texas recorded in Volume 4021, Page 606, DRDCT; . Thence North 00 degrees 38 minutes 31 seconds West, 627.87 feet (deed call North 02 degrees 45 minutes 25 seconds East, 627.90 feet) along the West line of said Miles tract and along the East line of a tract of land described in the deed to City of Southlake, Texas recorded in Volume 4021, Page 606, DRDCT passing a 1/2 inch iron rod found at 93.04 feet, a Southerly corner of the aforementioned 60.8825 acre tract and continuing along an East line of said 60.8825 acre tract of land to the point of beginning and containing 11.734 acres of land. NOTE: The Company is prohibited from insuring the area or quantity of the land described herein. Any statement in the legal description contained in Schedule "A" as to area or quantity of land is not a representation that such area or quantity is correct, but is made only for informal identification purposes and does not override Item 2 of Schedule "8" hereof Tax Proration Agreement & Disclosures Page 3 of 3 Rev. 01/07