HomeMy WebLinkAboutContract 46802 CITY SECRETARY
CONTRACT X10. 0
COMPLETION AGREEMENT
This Completion Agreement ("Agreement"), is made and entered
into by and between the City of Fort Worth, ("City") and First Texas
Homes, Inc._, authorized to do business in Texas, ("Developer")
effective as of the last date executed by a Party hereto. The City and
the Developer may collectively be called the "Parties".
WITNESSETH:
WHEREAS, the Developer owns that certain tract of real property
that contains approximately 21 .219 acres of land located in the
City, the legal description of which tract of real property is marked
Exhibit "A" — Legal Description, attached hereto and incorporated
herein for all purposes, ("Property"); and
WHEREAS, the Developer intends to develop the Property as an
addition to the City through plat FP 014-074 as approved by the City on
or before the date of this Agreement ("Plat"); and
WHEREAS, the Developer and the City have entered into a
Community Facilities Agreement (CFA # 2015-023; M&C )
relating to the development, _Presidio West PhaseVIII-B , for Paving,
Drainage, Water, Sewer and Lighting Improvements ("Improvements");
and
WHEREAS, the City has required certain assurances that the
Developer will cause to be constructed to City standards the
Improvements pursuant to the Community Facilities Agreement; and
WHEREAS, the Parties desire to set forth the terms and
conditions of such accommodations as are described above.
NOW, THEREFORE, for and in consideration of the mutual
covenants and agreements hereinafter set forth, it is hereby agreed by
m and between City and Developer as follows:
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OFFICIAL RECORD
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I . Recitals. The foregoing recitals are true, correct and complete
and constitute the basis for this Agreement and they are
incorporated into this Agreement for all purposes.
2. The Completion Amount. The City and the Developer agree that
the Hard Costs (as shown on Exhibit " B_") required to complete
the Community Facilities in the aggregate should not exceed the
sum of ($1,340,601 .65 ), hereinafter called the "Completion
Amount". Notwithstanding the foregoing, it is acknowledged that
the actual costs of completion of the Community Facilities may
vary as a result of change orders agreed to by the Parties, but
such variances for the purposes of this Agreement shall not affect
the Completion Amount as used herein. City hereby waives the
requirement for developer to deposit a financial guarantee of
100% of the Hard Costs under the CFA Policy.
3. Completion by the Developer. The Developer agrees to complete
the Community Facilities and pay all Hard Costs in accordance
with City standards, the CFA, the Plat, and the Plans as approved
by the City. For the purposes of this Agreement, the development
of the Property shall be deemed complete upon acceptance by the
City of the Community Facilities pursuant to Section 6, hereof.
4. Satisfaction of the City Requirements. The City agrees that the
assurances and covenants contained in this Agreement satisfy all
requirements of the City with respect to Developer's Financial
Guarantee, as described in the CFA Policy, or other requirements
for security in connection with the development of the Property
and the completion of the Community Facilities that are
contained in the CFA or in any other agreement relating thereto,
and the City hereby accepts the assurances and covenants
contained herein in lieu thereof. To the extent the CFA
irreconcilably conflicts with this Agreement, the provisions of
this Agreement shall control.
5. Termination. This Agreement shall terminate upon the earlier to
occur of the following: (a) acceptance by the City of the
Community Facilities; or (b) mutual written agreement of the
Parties.
6. Final Plat. The Parties acknowledge and agree that the City shall
hold the final plat of the Property until the Community Facilities
are completed and accepted by the City and all Hard Costs
contractors have been paid, less retainage. Upon acceptance by
the City and receipt of evidence from the Developer showing that
all Hard Costs contractors have been paid, including but not
necessarily limited to lien waivers and bills paid affidavits, the
City shall within a reasonable time file the final plat for the
Property in the Plat Records of the county where the Property is
located. The purpose of the City retaining the final plat of the
Property as provided herein is to guarantee the Developer's
obligations under the CFA are completed.
7. Construction Contracts. Developer agrees to include in each
Construction contract that it enters into for the completion of the
Community Facilities the following:
A. A statement that the City is not holding any security to
guarantee any payment for work performed on the Community
Facilities;
B. A statement that the Property is private property and that same
may be subject to mechanic's and materialman's liens;
C. A requirement that each contractor contracting with the
Developer release the City from any claim that is related to
the Property; and
D. A requirement that each contractor contracting with the
Developer include in each subcontract the statements
contained in (a), (b) and (c) above.
8. Miscellaneous.
A. Non-Assignment of Agreement. This Agreement may not be
assigned by any of the Parties without the prior written
consent of all the other Parties.
B. Notice. Any notice required or permitted to be delivered
under this Agreement shall be deemed received on actual
receipt by the appropriate party at the following addresses:
(i) Notice to the City shall be addressed and delivered as
follows:
City of Fort Worth
Planning & Development Department
1000 Throckmorton Street
Fort Worth, Texas 76102
Attention: CFA Division
Julie Westerman, Development Manager
Email: Julie.Westerman Cfortworthtexas.gov
Confirmation Number: 817-392-2677
and/or
CFA Division
Email: CFA Lfortworthtexas.gov
Confirmation Number: 817-392-2025
With a copy thereof addressed and delivered as follows:
City of Fort Worth
1000 Throckmorton Street
Fort Worth, Texas 76102
Attention: Douglas W. Black
Assistant City Attorney
Confirmation Number: 817-392-7615
(ii) Notice to the Developer shall be addressed and
delivered as follows:
First Texas Homes, Inc._
Attention: Keith Hardesty
500 Crescent Court, Suite 350
Dallas, TX
75201
A party may change its address for notice upon prior written
notice to the other parties pursuant to the terms hereof.
C. Texas Law to Apply. This Agreement shall be construed under
and in accordance with the laws of the State of Texas.
D. Parties Bound. This Agreement shall be binding upon and
inure to the benefit of the Parties and their respective legal
representatives, successors and assigns.
E. Legal Construction. In case any one or more of the provisions
contained in this Agreement shall for any reason is held to be
invalid, illegal, or unenforceable in any respect, such
invalidity, illegality, or unenforceability shall not affect any
other provision of this Agreement, and this Agreement shall be
construed as if such invalid, illegal, or unenforceable
provision had never been contained in this Agreement.
F. Prior Agreements Superseded. This Agreement constitutes the
sole and only agreement of the Parties with respect to the
subject matter hereof and supersedes any prior understandings
or written or oral agreements among the Parties concerning the
subject matter hereof.
G. Amendment. This Agreement may only be amended by a
written instrument executed by all of the Parties to this
Agreement.
H. Headings. The headings that are used in this Agreement are
used for reference and convenience purposes only and do not
constitute substantive matters to be considered in construing
the terms and provisions of this Agreement.
Executed IN QUADRUPLET by the Parties hereto:
DEVELOPER: CITY OF FORT WORTH:
Name c.� j 7 Fernando Costa
Title: �ns���'f Assistant City Manager
Date: 2vt5 Date: Gz2S�s
T T
APPROVED AS TO FORM:
UR�22�
Douglas W. Black
Assistant City Attorney
A=S T:
Mary J. Kayser g
City Secretary
M&C: o�o0000�XAg
Date:
OFFICIAL RECORD
CITY SECRETARY
FT.WORTH,TX
LIST OF EXHIBITS
EXHIBIT A - LEGAL DESCRIPTION
EXHIBIT B - APPROVED BUDGET
EXHIBIT A
LEGAL DESCRIPTION
TRACT 1
BEING A 12.256 ACRE TRACT OF LAND SITUATED IN THE JOSIAH WALKER
SURVEY, ABSTRACT NO. 1600, CITY OF FORT WORTH, TARRANT COUNTY,
TEXAS, AND BEING A PORTION OF A TRACT OF LAND CONVEYED TO FIRST
TEXAS HOMES, INC., AS RECORDED IN COUNTY CLERK'S FILE NO.
D210260522, OFFICIAL PUBLIC RECORDS, TARRANT COUNTY, TEXAS, AND
BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS
FOLLOWS:
BEGINNING AT A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP
STAMPED "JACOBS" SET FOR THE SOUTHEAST CORNER OF LOT 17R, BLOCK
29 OF PRESIDIO WEST, AN ADDITION TO THE CITY OF FORT WORTH, AS
RECORDED IN COUNTY CLERK'S FILE NO. D212306378, PLAT RECORDS,
TARRANT COUNTY, TEXAS, SAID POINT BEING ON THE EAST LINE OF SAID
FIRST TEXAS HOMES, INC. TRACT AND THE WEST LINE OF A TRACT OF
LAND CONVEYED TO THERESA McKEE AND BETH LASATER, AS RECORDED
IN VOLUME 16385, PAGE 228, DEED RECORDS, TARRANT COUNTY, TEXAS;
THENCE, SOUTH 00 DEGREES 15 MINUTES 48 SECONDS WEST, ALONG THE
EAST LINE OF SAID FIRST TEXAS HOMES, INC. TRACT AND THE WEST LINE
OF SAID THERESA McKEE AND BETH LASATER TRACT AND THE WEST LINE
OF A TRACT OF LAND CONVEYED TO BRYAN K. SCRIBNER AND JODI
SCRIBNER, AS RECORDED IN VOLUME 12212, PAGE 166, DEED RECORDS,
TARRANT COUNTY, TEXAS, A DISTANCE OF 1051.53 FEETTO A 5/8 INCH
IRON ROD WITH YELLOW PLASTIC CAP STAMPED "JACOBS" SET FOR THE
SOUTHEAST CORNER OF SAID FIRST TEXAS HOMES, INC. TRACT, SAID
POINT BEING ON THE NORTH LINE OF LOT 1, BLOCK 6 OF QUAIL GROVE,
PHASE 1, AN ADDITION TO THE CITY OF FORT WORTH, AS RECORDED IN
CABINET A, SLIDE 10613, PLAT RECORDS, TARRANT COUNTY, TEXAS;
THENCE, NORTH 88 DEGREES 32 MINUTES 47 SECONDS WEST, ALONG THE
SOUTH LINE OF SAID FIRST TEXAS HOMES, INC. TRACT AND THE NORTH
LINE OF SAID QUAIL GROVE, PHASE 1, A DISTANCE OF 718.23 FEET TO A 5/8
INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "JACOBS" SET FOR
CORNER ON THE EAST RIGHT-OF-WAY LINE OF TURTLE PASS (A 50' RIGHT-
OF-WAY), AS RECORDED IN CABINET A, SLIDE 10613 AND COUNTY CLERK'S
FILE NO. D212253025, PLAT RECORDS, TARRANT COUNTY, TEXAS;
THENCE, OVER AND ACROSS SAID FIRST TEXAS HOMES, INC. TRACT, THE
FOLLOWING COURSES AND DISTANCES:
NORTH 01 DEGREES 34 MINUTES 32 SECONDS EAST, ALONG THE
EAST RIGHT-OF-WAY LINE OF SAID TURTLE PASS, A DISTANCE OF
215.32 FEET TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP
STAMPED "JACOBS" SET FOR THE SOUTHWEST CORNER OF LOT 13,
1ASLD\WFXK3908\800 DELIVERABLES 820 Submittal\CFA,CFA_LEGAL.docx
Page 1 of 6
BLOCK 26 OF PRESIDIO WEST, AN ADDITION TO THE CITY OF FORT
WORTH, AS RECORDED IN COUNTY CLERK'S FILE NO. D213147275,
PLAT RECORDS, TARRANT COUNTY, TEXAS;
SOUTH 88 DEGREES 25 MINUTES 29 SECONDS EAST, ALONG THE
SOUTH LINE OF SAID LOT 13, BLOCK 26, A DISTANCE OF 115.09 FEET
TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED
"JACOBS" SET FOR THE SOUTHEAST CORNER OF SAID LOT 13, BLOCK
26;
NORTH 01 DEGREES 27 MINUTES 39 SECONDS EAST, ALONG THE
EAST LINE OF SAID LOT 13, BLOCK 26, A DISTANCE OF 47.14 FEET TO
A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED
"JACOBS" SET FOR THE NORTHEAST CORNER OF LOT 13, BLOCK 26
AND THE SOUTHEAST CORNER OF LOT 12, BLOCK 26 OF SAID
PRESIDIO WEST;
NORTH 17 DEGREES 31 MINUTES 41 SECONDS EAST, ALONG THE
EAST LINE OF SAID LOT 12, BLOCK 26, A DISTANCE OF 45.43 FEET TO
A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED
"JACOBS" SET FOR THE NORTHEAST CORNER OF SAID LOT 12, BLOCK
26 AND THE SOUTHEAST CORNER OF LOT 11, BLOCK 26 OF SAID
PRESIDIO WEST;
NORTH 24 DEGREES 15 MINUTES 32 SECONDS EAST, ALONG THE
EAST LINE OF SAID PRESIDIO WEST, A DISTANCE OF 498.89 FEET TO A
5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "JACOBS"
SET FOR THE NORTHEAST CORNER OF LOT 2, BLOCK 26 OF SAID
PRESIDIO WEST;
NORTH 65 DEGREES 44 MINUTES 28 SECONDS WEST, ALONG THE
NORTH LINE OF SAID LOT 2, BLOCK 26, A DISTANCE OF 110.00 FEET
TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED
"JACOBS" SET FOR THE NORTHWEST CORNER OF SAID LOT 2, BLOCK
26, SAID POINT BEING ON THE EAST RIGHT-OF-WAY LINE OF
AFORESAID TURTLE PASS;
NORTH 24 DEGREES 15 MINUTES 32 SECONDS EAST, ALONG THE
EAST RIGHT-OF-WAY LINE OF SAID TURTLE PASS, A DISTANCE OF
45.00 FEET TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP
STAMPED "JACOBS" SET FOR CORNER AT THE WEST END OF A
CORNER CLIP AT THE INTERSECTION OF THE EAST RIGHT-OF-WAY
LINE OF SAID TURTLE PASS AND THE SOUTH RIGHT-OF-WAY LINE OF
CREOSOTE DRIVE (A 50' RIGHT-OF-WAY), AS RECORDED IN COUNTY
CLERK'S FILE NO. D212253025, PLAT RECORDS, TARRANT COUNTY,
TEXAS;
NORTH 69 DEGREES 15 MINUTES 32 SECONDS EAST, ALONG SAID
CORNER CLIP, A DISTANCE OF 14.14 FEET TO A 5/8 INCH IRON ROD
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WITH YELLOW PLASTIC CAP STAMPED "JACOBS" SET FOR CORNER
AT THE EAST END OF SAID CORNER CLIP;
NORTH 24 DEGREES 15 MINUTES 32 SECONDS EAST, OVER AND
ACROSS SAID CREOSOTE DRIVE, A DISTANCE OF 50.00 FEET TO A 5/8
INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "JACOBS"
SET FOR CORNER ON THE NORTH RIGHT-OF-WAY LINE OF SAID
CREOSOTE DRIVE AND THE SOUTH LINE OF LOT 5, BLOCK 28 OF
PRESIDIO WEST, AN ADDITION TO THE CITY OF FORT WORTH, AS
RECORDED IN COUNTY CLERK'S FILE NO. D213147275, PLAT
RECORDS, TARRANT COUNTY, TEXAS;
SOUTH 65 DEGREES 44 MINUTES 28 SECONDS EAST, ALONG THE
SOUTH LINE OF SAID LOT 5, BLOCK 28, A DISTANCE OF 5.00 FEET TO
A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED
"JACOBS" SET FOR THE SOUTHEAST CORNER OF SAID LOT 5, BLOCK
28;
NORTH 24 DEGREES 15 MINUTES 32 SECONDS EAST, ALONG THE
EAST LINE OF SAID LOT 5, BLOCK 28, A DISTANCE OF 110.00 FEET TO
A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED
"JACOBS" SET FOR THE NORTHEAST CORNER OF SAID LOT 5, BLOCK
28, SAID POINT BEING ON THE SOUTH LINE OF LOT 1X, BLOCK 28 OF
PRESIDIO WEST, AN ADDITION TO THE CITY OF FORT WORTH, AS
RECORDED IN CABINET A, SLIDE 11771, PLAT RECORDS, TARRANT
COUNTY, TEXAS;
SOUTH 65 DEGREES 44 MINUTES 28 SECONDS EAST, ALONG THE
SOUTH LINE OF SAID LOT 1 X, BLOCK 28, A DISTANCE OF 163.29 FEET
TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED
"CARTER BURGESS" FOUND FOR THE SOUTHEAST CORNER OF LOT
IX, BLOCK 28;
THENCE, CONTINUING OVER AND ACROSS SAID FIRST TEXAS HOMES, INC.
TRACT AND ALONG THE EAST LINE OF SAID LOT IX, BLOCK 28, THE
FOLLOWING COURSES AND DISTANCES:
NORTH 24 DEGREES 15 MINUTES 32 SECONDS EAST, A DISTANCE OF
50.77 FEET TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP
STAMPED "CARTER BURGESS" FOUND FOR CORNER AND THE
BEGINNING OF A NON-TANGENT CURVE TO THE RIGHT HAVING A
CENTRAL ANGLE OF 90 DEGREES 00 MINUTES 00 SECONDS, A RADIUS
OF 50.00 FEET, AND A LONG CHORD THAT BEARS NORTH 35 DEGREES
47 MINUTES 01 SECONDS EAST, A DISTANCE OF 70.71 FEET;
ALONG SAID NON-TANGENT CURVE TO THE RIGHT, AN ARC
DISTANCE OF 78.54 FEET TO A 5/8 INCH IRON ROD WITH YELLOW
PLASTIC CAP STAMPED "CARTER BURGESS" FOUND FOR THE
NORTHEAST CORNER OF SAID LOT IX, BLOCK 28 AND A SOUTHEAST
CORNER OF AFORESAID LOT 17R, BLOCK 29;
IASLD WFXK3908\800 DELIVERABLES 820 Subn ittaLCFA,CFA LEGAL.docx
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THENCE, NORTH 88 DEGREES 31 MINUTES 42 SECONDS EAST, CONTINUING
OVER AND ACROSS SAID FIRST TEXAS HOMES, INC. TRACT AND ALONG
THE SOUTH LINE OF SAID LOT 17R, BLOCK 29, A DISTANCE OF 169.26 FEET
TO THE POINT OF BEGINNING, AND CONTAINING 12.256 ACRES OF LAND,
MORE OR LESS.
TRACT 2
BEING AN 8.963 ACRE TRACT OF LAND SITUATED IN THE JOSIAH WALKER
SURVEY, ABSTRACT NO. 1600, CITY OF FORT WORTH, TARRANT COUNTY,
TEXAS, AND BEING A PORTION OF A TRACT OF LAND CONVEYED TO FIRST
TEXAS HOMES, INC., AS RECORDED IN COUNTY CLERK'S FILE NO.
D210260522, OFFICIAL PUBLIC RECORDS, TARRANT COUNTY, TEXAS, AND
BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS
FOLLOWS:
BEGINNING AT A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP
STAMPED "JACOBS" SET FOR THE SOUTHEAST CORNER OF LOT 1, BLOCK 25
OF PRESIDIO WEST, AN ADDITION TO THE CITY OF FORT WORTH, AS
RECORDED IN CABINET A, SLIDE 11771, PLAT RECORDS, TARRANT
COUNTY, TEXAS AND THE SOUTHWEST CORNER OF LOT 31, BLOCK 25 AND
THE NORTHWEST CORNER OF LOT 30, BLOCK 25 OF PRESIDIO WEST, AN
ADDITION TO THE CITY OF FORT WORTH, AS RECORDED IN COUNTY
CLERK'S FILE NO. D213147275, PLAT RECORDS, TARRANT COUNTY, TEXAS;
THENCE, OVER AND ACROSS SAID FIRST TEXAS HOMES, INC. TRACT, THE
FOLLOWING COURSES AND DISTANCES:
SOUTH 24 DEGREES 15 MINUTES 32 SECONDS WEST, ALONG THE
WEST LINE OF SAID PRESIDIO WEST, A DISTANCE OF 574.76 FEET TO
A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED
"JACOBS" SET FOR THE SOUTHWEST CORNER OF LOT 20, BLOCK 25
AND THE NORTHWEST CORNER OF LOT 19, BLOCK 25 OF SAID
PRESIDIO WEST;
SOUTH 19 DEGREES 18 MINUTES 36 SECONDS WEST, ALONG THE
WEST LINE OF SAID LOT 19, BLOCK 25 AND THE WEST LINE OF LOT
18, BLOCK 25 OF SAID PRESIDIO WEST, A DISTANCE OF 79.07 FEET TO
A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED
"JACOBS" SET FOR A NORTHWEST CORNER OF SAID LOT 18, BLOCK
25;
SOUTH 01 DEGREE 28 MINUTES I 1 SECONDS WEST, ALONG THE WEST
LINE OF SAID LOT 18, BLOCK 25, A DISTANCE OF 50.00 FEET TO A 5/8
INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "JACOBS"
SET FOR THE SOUTHWEST CORNER OF SAID LOT 18, BLOCK 25;
L\SLD\WFXK3908\800 DELIVERABLES`%820 Submittal\CFA,CFA_LEGAL.docx
Page 4 of 6
SOUTH 88 DEGREES 25 MINUTES 28 SECONDS EAST, ALONG THE
SOUTH LINE OF SAID LOT 18, BLOCK 25, A DISTANCE OF 124.88 FEET
TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED
"JACOBS" SET FOR THE SOUTHEAST CORNER OF SAID LOT 18, BLOCK
25, SAID POINT BEING ON THE WEST RIGHT-OF-WAY LINE OF TURTLE
PASS (A 50' RIGHT-OF-WAY), AS RECORDED IN COUNTY CLERK'S
FILE NO. D212253025, PLAT RECORDS, TARRANT COUNTY, TEXAS;
SOUTH 01 DEGREE 34 MINUTES 32 SECONDS WEST, ALONG THE WEST
RIGHT-OF-WAY LINE OF SAID TURTLE PASS, A DISTANCE OF 215.05
FEET TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED
"JACOBS" SET FOR THE NORTHEAST CORNER OF LOT 13, BLOCK 7 OF
QUAIL GROVE, PHASE 1, AN ADDITION TO THE CITY OF FORT
WORTH, AS RECORDED IN CABINET A, SLIDE 10613, PLAT RECORDS,
TARRANT COUNTY, TEXAS, SAID POINT BEING ON THE SOUTH LINE
OF SAID FIRST TEXAS HOMES, INC. TRACT;
THENCE, NORTH 88 DEGREES 32 MINUTES 47 SECONDS WEST, ALONG THE
SOUTH LINE OF SAID FIRST TEXAS HOMES, INC. TRACT AND THE NORTH
LINE OF SAID QUAIL GROVE, PHASE 1 AND THE NORTH LINE OF QUAIL
GROVE, AN ADDITION TO THE CITY OF FORT WORTH, AS RECORDED IN
CABINET A, SLIDE 11951, PLAT RECORDS, TARRANT COUNTY, TEXAS, A
DISTANCE OF 617.62 FEET TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC
CAP STAMPED "JACOBS" SET FOR THE NORTHWEST CORNER OF SAID
QUAIL GROVE AND THE NORTHEAST CORNER OF A TRACT OF LAND
CONVEYED TO HARMON ROAD 81 DEVELOPMENT LP, AS RECORDED IN
COUNTY CLERK'S FILE NO. D204159922, OFFICIAL PUBLIC RECORDS,
TARRANT COUNTY, TEXAS, SAID POINT BEING ON THE WEST RIGHT-OF-
WAY LINE OF HERITAGE TRACE PARKWAY (A 65' RIGHT-OF-WAY), AS
RECORDED IN CABINET A, SLIDE 11951, PLAT RECORDS, TARRANT
COUNTY, TEXAS;
THENCE, NORTH 24 DEGREES 15 MINUTES 32 SECONDS EAST, OVER AND
ACROSS SAID FIRST TEXAS HOMES, INC. TRACT A DISTANCE OF 1037.28
FEET TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED
"JACOBS" SET FOR CORNER ON THE SOUTHWEST LINE OF AFORESAID
PRESIDIO WEST ADDITION, SAID POINT BEING IN THE APPROXIMATE
CENTERLINE OF HERITAGE TRACE PARKWAY, A VARIABLE WIDTH RIGHT-
OF-WAY, AS RECORDED IN CABINET A, SLIDE 11771, PLAT RECORDS,
TARRANT COUNTY, TEXAS;
THENCE, ALONG THE SOUTHWEST LINE OF SAID PRESIDIO WEST
ADDITION, THE FOLLOWING COURSES AND DISTANCES:
SOUTH 65 DEGREES 44 MINUTES 28 SECONDS EAST, OVER AND
ACROSS SAID HERITAGE TRACE PARKWAY, A DISTANCE OF 65.00
FEET TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED
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"JACOBS" SET FOR CORNER ON THE SOUTHEAST RIGHT-OF-WAY
LINE OF SAID HERITAGE TRACE PARKWAY;
NORTH 24 DEGREES 15 MINUTES 32 SECONDS EAST, ALONG THE
SOUTHEAST RIGHT-OF-WAY LINE OF SAID HERITAGE TRACE
PARKWAY, A DISTANCE OF 47.00 FEET TO A 5/8 INCH IRON ROD WITH
YELLOW PLASTIC CAP STAMPED "JACOBS" SET FOR THE
SOUTHWEST CORNER OF LOT 1, BLOCK 24 OF SAID PRESIDIO WEST;
SOUTH 65 DEGREES 44 MINUTES 28 SECONDS EAST, ALONG THE
SOUTH LINE OF SAID LOT 1, BLOCK 24, PASSING AT A DISTANCE OF
120.00 FEET A 5/8 INCH IRON ROD WITH PLASTIC CAP STAMPED
"JACOBS" SET FOR THE SOUTHEAST CORNER OF SAID LOT 1, BLOCK
24, SAID POINT BEING ON THE WEST RIGHT-OF-WAY LINE OF
CHUPAROSA DRIVE (A 50' RIGHT-OF-WAY), AS RECORDED IN
CABINET A, SLIDE 11771, PLAT RECORDS, TARRANT COUNTY, TEXAS,
CONTINUING OVER AND ACROSS SAID CHUPAROSA DRIVE, IN ALL A
TOTAL DISTANCE OF 170.00 FEET TO A 5/8 INCH IRON ROD WITH
YELLOW PLASTIC CAP STAMPED "JACOBS" SET FOR CORNER ON THE
EAST RIGHT-OF-WAY LINE OF SAID CHUPAROSA DRIVE;
NORTH 24 DEGREES 15 MINUTES 32 SECONDS EAST, ALONG THE
EAST RIGHT-OF-WAY LINE OF SAID CHUPAROSA DRIVE, A DISTANCE
OF 5.00 FEET TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP
STAMPED "JACOBS" SET FOR THE SOUTHWEST CORNER OF
AFORESAID LOT 1, BLOCK 25;
SOUTH 65 DEGREES 44 MINUTES 28 SECONDS EAST, ALONG THE
SOUTH LINE OF SAID LOT 1, BLOCK 25, A DISTANCE OF 110.00 FEET
TO THE POINT OF BEGINNING, AND CONTAINING 8.963 ACRES OF
LAND, MORE OR LESS.
I^,SLDVFXK3908\800 DELIVERABLES,820 Submittal\CFA,CFA LEGAL.docx
Page 6 of 6
EXHIBIT B
APPROVED BUDGET
Section I
Water $226,872. 10
Sewer $ 171 ,676.80
Sub-total $398,548.90
Section II
Interior Streets $660,226.20
Storm Drains $358,320.00
Sub-total $1,018,546.20
Section III
Street Lights $ 108,227.60
Sub-total $108,227.60
TOTAL $19525,322.70