HomeMy WebLinkAboutResolution 4768-04-2017 A Resolution
NO. 4768-04-2017
A RESOLUTION OF THE CITY OF FORT WORTH, TEXAS
DETERMINING THE COSTS OF CERTAIN PUBLIC IMPROVEMENTS
TO BE FINANCED BY THE FORT WORTH PUBLIC IMPROVEMENT
DISTRICT NO. 16 (WALSH RANCH/QUAIL VALLEY); ACCEPTING A
PRELIMINARY SERVICE AND ASSESSMENT PLAN, INCLUDING A
PROPOSED ASSESSMENT ROLL; DIRECTING THE FILING OF THE
PROPOSED ASSESSMENT ROLL WITH THE CITY SECRETARY TO
MAKE AVAILABLE FOR PUBLIC INSPECTION; CALLING A PUBLIC
HEARING ON MAY 2, 2017 TO CONSIDER AN ORDINANCE LEVYING
ASSESSMENTS ON PROPERTY LOCATED WITHIN IMPROVEMENT
AREA #1 OF THE DISTRICT; DIRECTING CITY STAFF TO PUBLISH
AND MAIL NOTICE OF SAID PUBLIC HEARING; AND RESOLVING
OTHER MATTERS INCIDENT AND RELATED THERETO.
WHEREAS, Chapter 372, Texas Local Government Code (the "Act") authorizes the
governing body (the "City Council") of the City of Fort Worth, Texas (the "City"), to create a
public improvement district within the corporate limits and extraterritorial jurisdiction of the
City; and
WHEREAS, on September 20, 2016, the City Council conducted a public hearing to
consider a petition received by the City on August 1, 2016 (the "Petition") requesting the
creation of the Fort Worth Public Improvement District No. 16 (Walsh Ranch/Quail Valley) (the
"District") to undertake the construction of certain public improvements described in the
Petition(the "Authorized Improvements"); and
WHEREAS, on September 27, 2016, the City Council adopted Resolution No. 4686-09-
2016 (the "Authorization Resolution"), authorizing, establishing and creating the District; and
WHEREAS, only a portion of the property within the District, consisting of
approximately 25 1.01 acres ("Improvement Area 91"), will be developed initially; and
WHEREAS, the Act requires that the City Council determine the total cost of the
Authorized Improvements that benefit Improvement Area #1 and which are to be funded by
assessments levied in Improvement Area#1 of the District (the "Improvement Area #1 Funded
Improvements"); and
WHEREAS, on March 7, 2017, the City Council adopted Resolution No. 4758-03-2017
(the "Prior Resolution") determining the total estimated costs of the Authorized Improvements
in Improvement Area #1 of the District, directing the filing of a proposed assessment roll,
directing the mailing and publication of notice of a public hearing to be held on March 28, 2017
ORT WORT
to consider the levying of the special assessments against the property within Improvement Area
#1 of the District, and directing related actions; and
WHEREAS, the City Council, pursuant to the Prior Resolution and Sections 372.016(b)
and (c) of the PID Act, published notice on March 9, 2017 in the Fort Worth Star Telegram of a
public hearing to be held on March 28, 2017 to consider the proposed special assessments to be
levied against property located in Improvement Area#1 of the District and mailed copies of such
notice to the last known address of the owners of the property liable for the special assessments;
and
WHEREAS, the hearing originally to be held on March 28, 2017 has been postponed,
and, as a result of such delay, the City Council has determined to adopt this Resolution with the
intent of superseding the Prior Resolution in its entirety; and
WHEREAS, the City Council and the City staff have been presented with a Preliminary
Service and Assessment Plan for the District, focusing primarily on Improvement Area #1 and
including the proposed assessment roll attached thereto (the "Proposed Assessment Roll")
(collectively, the "Preliminary SAP"), a copy of which is attached hereto as Exhibit A and is
incorporated herein for all purposes; and
WHEREAS, the Preliminary SAP sets forth the estimated total costs of the Improvement
Area #1 Funded Improvements and the Proposed Assessment Roll states the special assessment
to be levied against each parcel of land in Improvement Area#I as determined by the assessment
methodology chosen by the City Council; and
WHEREAS, the Act requires that the Proposed Assessment Roll be filed with the City
Secretary of the City(the "City Secretary") and be subject to public inspection; and
WHEREAS, the Act requires that a public hearing (the "Assessment Hearing") be
called to consider the proposed assessments and requires the City Council to hear and pass on
any objections to the proposed assessments at, or on the adjournment of, the Assessment
Hearing; and
WHEREAS, the Act requires that notice of the Assessment Hearing be published in a
newspaper of general circulation in the City before the tenth (10th) day before the date of the
Assessment Hearing and be mailed to property owners liable for assessment and; and
WHEREAS, after all objections have been heard and passed on at the Assessment
Hearing, the City Council may levy special assessments against the property in Improvement
Area#1 to pay for the Improvement Area#1 Funded Improvements.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF FORT WORTH, TEXAS:
SECTION 1. THAT the recitals set forth above in this Resolution are true and correct and
are hereby adopted as findings of the City Council and are incorporated into the body of this
Resolution as if fully set forth herein.
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SECTION 2. THAT Resolution No. 4758-03-2017 is superseded in its entirety by this
Resolution.
SECTION 3. THAT the City Council does hereby accept the Preliminary SAP for the
District, including the Proposed Assessment Roll, a copy of which is attached hereto as Exhibit
A and is incorporated herein for all purposes. All capitalized terms not otherwise defined herein
shall have the meanings given to such terms in the Preliminary SAP.
SECTION 4. THAT the City Council hereby determines that the estimated total costs of
the Improvement Area #1 Funded Improvements (as defined in the Preliminary SAP) to be
financed by the District are $6,350,000, as set forth in the Preliminary SAP.
SECTION 5. THAT the City Council's final determination and approval of the costs of
the Improvement Area #1 Funded Improvements, or any portion thereof, shall be subject to and
contingent upon City Council approval of a final Service and Assessment Plan which will
include a final Assessment Roll, after the properly noticed and held Assessment Hearing.
SECTION 6. THAT the City Council will defer the levy of assessments against property
within future improvement areas for phase-specific improvements that will benefit only the
property within each such future improvement area until such time as the costs of such phase-
specific improvements can be determined with certainty.
SECTION 7. THAT the City Council hereby authorizes and directs the filing of the
Preliminary SAP with the City Secretary and the same shall be available for public inspection.
SECTION 8. THAT the City Council hereby authorizes, and calls, a public hearing (the
Assessment Hearing as defined above) to be held on May 2, 2017 at 7:00 p.m. at City Council
Chamber, City Hall, 200 Texas Street, Fort Worth, Texas, at which the City Council shall,
among other actions, hear and pass on any objections to the proposed assessments; and, upon the
adjournment of the Assessment Hearing, the City Council will consider an ordinance or
resolution levying the assessments as special assessments on the property within Improvement
Area#1 of the District (which ordinance or resolution shall specify the method of payment of the
assessments).
SECTION 9. THAT the City Council hereby authorizes and directs the City Secretary to
publish notice of the Assessment Hearing in substantially the form attached hereto as Exhibit B
and incorporated herein for all purposes, in a newspaper of general circulation in the City, on or
before April 21, 2017, as required by Section 372.016(b) of the Act.
SECTION 10. THAT when the Proposed Assessment Roll is filed with the City
Secretary, the City Council hereby authorizes and directs the City Secretary, on or before April
21, 2017, to mail to owners of property liable for assessment notice of the Assessment Hearing
as required by Section 372.016(c) of the Act.
ORT WORT
SECTION 11. THAT City staff is authorized and directed to take such other actions as
are required (including, but not limited to, notice of the public hearing as required by the Texas
Open Meetings Act) to place the Assessment Hearing on the agenda for the May 2, 2017 meeting
of the City Council.
SECTION 12. THAT this Resolution shall become effective from and after its date of
passage in accordance with law.
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By:
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ORT WORT
EXHIBIT A
PRELIMINARY SERVICE AND ASSESSMENT PLAN
EXHIBIT B
NOTICE OF PUBLIC HEARING
CITY OF FORT WORTH, TEXAS
NOTICE OF PUBLIC HEARING TO CONSIDER
THE LEVY OF ASSESSMENTS AGAINST PROPERTY WITHIN
FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 16 (WALSH RANCH/QUAIL
VALLEY)
Pursuant to Chapter 372, Texas Local Government Code (the "Act"), notice is hereby given that the City
Council of the City of Fort Worth, Texas (the "Lily") will hold a public hearing (the "Public Hearing")
to consider the levy of assessments against property within Fort Worth Public Improvement District No.
16 (Walsh Ranch/Quail Valley) (the "District")to pay for certain improvements therein.
Date, Time and Place of Public Hearing. The Public Hearing will take place on May 2, 2017, at 7:00
p.m., at the City Council Chamber, City Hall, 200 Texas Street, Fort Worth, Texas.
General Nature of the Improvements. The general nature of the proposed public improvements,
including the improvements to be reimbursed through the levy of special assessments in the District,
includes: (i) earthwork and erosion control improvements, (ii) storm drainage improvements, (iii) water
distribution improvements, (iv) wastewater improvements, (v) road improvements, (vi) landscaping
improvements, and(vii) costs related to the creation and administration of the District.
The property within the District is expected to be developed in multiple phases (each phase being an
"Improvement Area"). Improvements that will benefit and serve only property within Improvement
Area 91 are to be installed and constructed in the first phase of improvements, and special assessments
will be levied within Improvement Area 91 for the Improvement Area 91 Funded Improvements. For
each subsequent phase within the District, special assessments will be levied within the future
Improvement Areas to pay the costs of public improvement projects that confer a special benefit on the
property within such Improvement Areas.
Cost of the Improvements. The estimated total cost of the public improvements in Improvement Area
91 to be funded through the special assessments levied therein, including financing costs, is $ 6,350,000.
Proposed Assessment Roll. The proposed assessment roll providing for the costs of said improvements
to be assessed, levied and apportioned against the property within Improvement Area 91, and the real
and true owner or owners thereof, is on file at the office of the City Secretary at City Hall, 200 Texas
Street, Fort Worth, Texas.
Boundaries of the District. The boundaries of the District, which encompasses approximately 1,704
acres, are: north of the intersection of Interstate Highway 20 and Interstate Highway 30, east of Farm to
Market Road 1187, south of Old Weatherford Road, and west of the Parker County — Tarrant County
boundary line, as more particularly described by a metes and bounds description available at the Fort
Worth City Hall and available for public inspection.
Obiections Considered. All written or oral objections will be considered at the Public Hearing.
Prior Notice. This notice supersedes the prior noticed published on March 9, 2017 and mailed to
property owners within Improvement Area 91 on or about the same date concerning the matters
described above.
Fort Worth Public
Improvement District No . 16
(Walsh Ranch/Quail Valley)
Preliminary Service and Assessment Plan
April 11, 2017
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Table of Contents
Section I
PLAN DESCRIPTION AND DEFINED TERMS......................................................................... 3
Section II
PROPERTY INCLUDED IN THE PID ....................................................................................... 10
Section III
DESCRIPTION OF THE AUTHORIZED IMPROVEMENTS .................................................. 15
Section IV
ASSESSMENTPLAN..................................................................................................................20
Section V
SERVICEPLAN ..........................................................................................................................26
Section VI
TERMS OF THE ASSESSMENTS.............................................................................................. 31
Section VII
ASSESSMENTROLLS ............................................................................................................... 36
Section VIII
MISCELLANEOUS PROVISIONS............................................................................................. 38
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List of Tables and Appendices
Table II-A
PUBLIC IMPROVEMENT DISTRICT BOUNDARIES ............................................................ 10
Table II-B
IMPROVEMENT AREA#1 MAP............................................................................................... 11
Table II-C
IMPROVEMENT AREA 41 LOT BREAKDOWN BY TYPE................................................... 12
Table II-D
IMPROVEMENT AREA 91 LOT LAYOUT.............................................................................. 13
Table II-E
FUTURE IMPROVEMENT AREAS MAP................................................................................. 14
Table III-A
IMPROVEMENT AREA 91 AUTHORIZED IMPROVEMENTS............................................. 18
Table III-B
FUTURE IMPROVEMENT AREAS AUTHORIZED IMPROVEMENTS & LOT COUNT....19
Table IV-A
IMPROVEMENT AREA 91 COST ALLOCATION................................................................. 22
Table IV-B
IMPROVEMENT AREA 91 ASSESSMENT ALLOCATION................................................... 23
Table IV-C
IMPROVEMENT AREA 91 ESTIMATED VALUE TO ASSESSMENT RATIOS.................. 23
Table V-A
IMPROVEMENT AREA 91 SOURCES AND USES OF FUNDS............................................. 28
Table V-B
SOURCES AND USES (ASSUMING FUTURE PID BOND ISSUANCE)............................... 29
Table V-C
IMPROVEMENT AREA# 1 ANNUAL INSTALLMENTS ...................................................... 30
Appendix A-1
IMPROVEMENT AREA 91 ASSESSMENT ROLL ..................................................................40
Appendix B
LEGAL DESCRIPTIONS FOR PARCELS WITHIN THE PID................................................. 57
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Section I
PLAN DESCRIPTION AND DEFINED TERMS
A. Introduction
1. On September 27, 2016, the City Council (the "City Council") of the City of Fort Worth,
Texas (the "City") approved Resolution 4686-09-2016, which authorized the creation of the Fort
Worth Public Improvement District No. 16 (Walsh Ranch/Quail Valley) (the "PID") to finance a
portion of the Actual Costs of the Authorized Improvements for the benefit of certain property in
the PID, all of which is located within the city limits or ETJ of the City.
2. Chapter 372 of the Texas Local Government Code (as amended, the "PID Act"), governs
the creation and operation of public improvement districts within the State of Texas. This Service
and Assessment Plan (this "SAP") was prepared pursuant to the PID Act. The PID Act requires
that a service plan "cover a period of at least five years and must also define the annual
indebtedness and the projected costs for improvements." The PID Act also requires a service plan
"be reviewed and updated annually for the purpose of determining the annual budget for
improvements." The service plan for the PID is described in more detail in Section V.
3. It is anticipated that the PID will finance the Actual Costs of only a portion of the
Authorized Improvements being constructed for the Property. The Property is expected to be
developed in seven phases. For each phase developed, the City will levy and collect Assessments
for the benefitted Property pursuant to an Assessment Ordinance specific to that phase.
4. The Assessment Rolls for the PID are attached as Appendix A-1 and are addressed in
Section VII. The Assessments shown on the Assessment Rolls are based on the method for
establishing and levying the Assessments described in Sections IV and VI.
5. Unless otherwise specified, references in this SAP to a "Section," a "Table," or an
"Appendix" shall mean a Section of, Table in, or Appendix to this SAP for all purposes.
B. Definitions
As used in this SAP, capitalized terms shall have the meanings ascribed to them as follows:
1. "Actual Costs" means, with respect to, Authorized Improvements, the demonstrated,
reasonable, allocable, and allowable costs of constructing such Authorized Improvements. Actual
Costs may include (i) the costs incurred for the design, planning, financing,
administration/management, acquisition, installation, construction and/or implementation of such
Authorized Improvements, (ii) the costs incurred in preparing the construction plans for such
Authorized Improvements, (iii)the fees paid for obtaining permits, licenses or other governmental
approvals for such Authorized Improvements, (iv) the costs incurred for external professional
costs, such as engineering, geotechnical, surveying, land planning, architectural landscapers,
appraisals, legal, accounting and similar professional services, taxes (property and franchise)
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related to the Authorized Improvements, (v) costs of all labor, bonds and materials, including
equipment and fixtures, incurred by contractors, builders and materialmen in connection with the
acquisition, construction or implementation of the Authorized Improvements, and (vi) all related
permitting, zoning and authorized approval expenses; architectural, engineering, legal and
consulting fees; financing charges; taxes; governmental fees and charges; insurance premiums;
and miscellaneous expenses associated with the Authorized Improvements. For the avoidance of
doubt, not all of the Authorized Improvements and the Actual Costs thereof are being funded
through the PID. Only certain Authorized Improvements described herein, and the PID-
Funded Actual Costs thereof, as defined below, are being funded through the PID.
2. "Additional Interest" means the 0.50% additional interest charged on Assessments
pursuant to Section 372.018 of the PID Act to fund the Prepayment Reserve and the Delinquency
Reserve pursuant to Sections IV.G,IV.H and Section IV.I.
3. "Administrative Expenses" means the administrative, organizational, maintenance and
operation costs and expenses associated with, or incident to, the administration, organization,
maintenance and operation of the PID, including, but not limited to, the costs of(i) legal counsel,
engineers, accountants, financial advisors, investment bankers or other consultants and advisors,
(ii) creating and organizing the PID and preparing the Assessment Rolls, (iii) computing, levying,
collecting and transmitting the Assessments or the Annual Installments thereof, (iv) maintaining
the record of Assessments, including payments, reallocations and/or cancellations of the
Assessments or Annual Installments thereof, (v) investing or depositing the Assessments or other
monies, (vi) complying with the PID Act with respect to the PID, (vii) paying the paying
agent/registrar's and trustee's fees and expenses (including the fees and expenses of their
respective legal counsel) related to the PID Bonds, and (viii) City costs of creating and
administering the PID and administering the construction of that portion of the Authorized
Improvements to be funded through the PID. Administrative Expenses shall also mean the
administrative costs and expenses of issuing,making debt service payments on, and redeeming the
PID Bonds, provided, however, that for the avoidance of doubt, Administrative Expenses do not
include the amounts for payment of the actual principal of, redemption premium, if any, and
interest on the PID Bonds. Annual Administrative Expenses collected and not expended shall be
carried forward and applied to reduce Administrative Expenses in subsequent years to avoid over
collection.
4. "Administrator" means an officer or employee of the City or third party designee of the
City who is not an officer or employee thereof, who shall have the responsibilities provided for
herein, in an Indenture relating to the PID Bonds or in any other agreement approved by the City
Council relating to the PID.
5. "Annual Installment"means,with respect to the Assessed Property, each annual payment
of. (i)the Assessment(including the principal of and interest thereon)as shown on the Assessment
Rolls as updated each year by the Annual Service Plan Update in accordance with this SAP and
calculated as provided in Section VI, (ii) Administrative Expenses as updated each year by the
Annual Service Plan Update, and (iii) the Additional Interest. The Annual Installment is subject
to update and adjustment from time to time, including upon the issuance of PID Bonds, if any.
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6. "Annual Service Plan Update"is defined in Section V.2.
7. "Assessed Property" or "Assessed Properties" means property within the PID that
benefits from the Authorized Improvements and on which Assessments have been levied as shown
on the Assessment Rolls and which currently includes all Parcels other than Non-Benefited
Property.
8. "Assessment" means the assessment levied against a Parcel pursuant to an Assessment
Ordinance and the provisions of this SAP, as shown on any Assessment Roll, subject to
reallocation upon the subdivision or reduction of such Parcel according to this SAP and the PID
Act.
9. "Assessment Ordinance" means each ordinance adopted by the City Council approving
this SAP (including amendments or supplements) and levying the Assessments.
10. "Assessment Roll" means, as applicable, the Improvement Area 91 Assessment Roll
included as Appendix A-1 as may be updated, modified or amended from time to time in
accordance with the procedures set forth in this SAP and in the PID Act, including updates
prepared in connection with any future issuance of PID Bonds or in connection with any Annual
Service Plan Update.
11. "Authorized Improvements" means those improvements, including those listed in
Section IILA and described in Section IILB, authorized by Section 372.003 of the PID Act,
regardless of whether such improvements are actually funded through the PID. Only a portion of
the Authorized Improvements constructed within the PID will be funded through the PID, and
such improvements will be acquired, constructed or installed in accordance with this SAP, and
any future updates and/or amendments.
12. "City" means the City of Fort Worth, Texas.
13. "City Council" means the duly elected governing body of the City.
14. "County" means either Parker County, Texas or Tarrant County, Texas.
15. "Delinquency Reserve"has the meaning set forth in Section IV.I.
16. "Delinquent Collection Costs" means interest, penalties and expenses incurred or
imposed with respect to any delinquent Assessment, or an Annual Installment thereof, in
accordance with the PID Act which includes the costs related to pursuing collection of such
delinquent Assessment, or an Annual Installment thereof, and the costs related to foreclosing the
lien against the Assessed Property, including attorney's fees to the extent permitted by the PID
Act
17. "Developer"means QUAIL VALLEY DEVCO I,LLC, a Texas limited liability company,
and WALSH RANCHES LIMITED PARTNERSHIP, a Texas limited partnership, and their
respective successors and assigns.
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18. "ETJ" means the extraterritorial jurisdiction of the City.
19. "Future Improvement Areas"means those Future Improvement Areas to be defined and
developed after Improvement Area 91 within the boundaries of the PID on that portion of the
Property shown on Table II-D and described in Appendix B.
20. "Future Improvement Areas Assessed Property"means,for any year,all Parcels within
the Future Improvement Areas and listed on the Future Improvement Areas Assessment Roll, other
than Non-Benefited Property.
21. "Future Improvement Areas Assessment Roll" means, as applicable, the Future
Improvement Areas Assessment Roll as may be updated, modified or amended from time to time
in accordance with the procedures set forth in this SAP and in the PID Act, including updates
prepared in connection with any future issuance of PID Bonds or in connection with any Annual
Service Plan Update.
22. "Future Improvement Areas Improvements" means those Authorized Improvements
which confer a special benefit on Future Improvement Areas and the costs of which are to be PID-
Funded Actual Costs.
23. "Future Improvement Area Reimbursement Agreement" means any PID
Reimbursement Agreement entered into with respect to any Future Improvement Area, by and
between the City and the Developer, pursuant to which the Developer agrees to fund the Actual
Costs of all Authorized Improvement in the applicable Future Improvement Area of the District,
and the City agrees to reimburse the Developer for the PID-Funded Actual Costs of the
corresponding Future Improvement Area Improvements, with interest, as permitted by the PID
Act.
24. "Improvement Area #1" means that portion of the Property shown on Table II-B, and
described in Appendix B.
25. "Improvement Area #1 Assessed Property" means, for any year, all Parcels within
Improvement Area 91 and listed on the Improvement Area 91 Assessment Roll, other than Non-
Benefited Property.
26. "Improvement Area #1 Assessment Roll" means the Assessment Roll included as
Appendix A-1.
27. "Improvement Area#1 Funded Improvements"means those Authorized Improvements
which confer a special benefit on Improvement Area 91 and the costs of which are to be PID-
Funded Actual Costs.
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28. "Improvement Area #1 Reimbursement Agreement" means that certain Fort Worth
Public Improvement District No. 16 (Walsh Ranch/Quail Valley) Reimbursement Agreement,
dated May 2, 2017, by and between the City and the Developer pursuant to which the Developer
agrees to fund the Actual Costs of all Authorized Improvements in Improvement Area 91 of the
District and the City agrees to reimburse the Developer for the PID-Funded Actual Costs of the
Improvement Area 91 Funded Improvements, with interest, as permitted by the PID Act.
29. "Indenture" means an indenture of trust, trust agreement, ordinance or similar document
between the City and the Trustee, authorizing the issuance of, and setting forth the terms and other
provisions relating to the collection of annual installments for repayment of, any PID Bonds as
such indenture or document may be modified, amended, and/or supplemented from time to time.
30. "Lot" means (i) for any portion of the Property for which a subdivision plat has been
recorded in the official public records of a County, a tract of land described by "Lot" and 'Block"
in such subdivision plat, and (ii) for any portion of the Property for which a subdivision plat has
not been recorded in the official public records of a County, a tract of land anticipated to be
described by "Lot" and "Block" in a final recorded subdivision plat.
31. "Lot Type" means a classification of final building Lots with similar characteristics (e.g.,
commercial, light industrial, multifamily residential, single family residential or other uses), as
determined or approved by the Administrator and confirmed by the City Council. Single family
residential Lots shall be further classified based on the front footage of the Lot as determined or
approved by the Administrator and confirmed by the City Council. Improvement Area#I will have
five residential lot types classified as 35 foot, 50 foot, 60 foot, 70 foot and Custom lots.
32. "Mandatory Prepayment" shall have the meaning set forth in Section VI.C.
33. "Master Reimbursement Agreement" means the Master Reimbursement Agreement
entered into by and between the City and the Developer, pursuant to which the Developer agrees
to fund the Actual Costs of all Authorized Improvements and the City agrees to reimburse the
Developer for the PID-Funded Actual Costs, related to a portion of the Authorized Improvements,
with interest, as permitted by the PID Act.
34. "Maximum Assessment per Unit" means, for each Lot Type, the Assessment per unit
amounts shown in Section IV.D.2 (Table IV-B) of the SAP.
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35. "Non-Benefited Property" means Parcels that accrue no special benefit from the
Authorized Improvements being funded through the PID,including Public Property and easements
that create an exclusive use for a public utility provider. Property identified as Non-Benefited
Property at the time the Assessments(i)are imposed or(ii)are reallocated pursuant to a subdivision
of a Parcel, is not assessed. Assessed Property converted to Non-Benefited Property, if the
Assessments may not be reallocated pursuant to the provisions herein, remains subject to the
Assessments and requires the Assessments to be prepaid as provided for in Section VLC.
36. "Notice of PID Assessment Termination" is defined in Section VI.E.1.
37. "Parcel" means property within the PID that is identified by (1) a tax map identification
number assigned by the Parker County Appraisal District or the Tarrant Appraisal District, as the
case may be, for real property tax purposes, (2) a metes and bounds description, (3) lot and block
number in a final subdivision plat recorded in the official public records of a County, (4) for any
portion of the Property for which a subdivision plat has not been recorded in the official public
records of a County, a tract of land anticipated to be described by "Lot" and "Block" in a final
recorded subdivision plat or(5) any other means determined by the City Council.
38. "PID"is defined in Section I.A.2.
39. "PID Act"is defined in Section I.A.2.
40. "PID Bonds"mean bonds which may be issued by the City from time to time to finance a
portion of the PID-Funded Actual Costs of a portion of the Authorized Improvements.
41. "PID-Funded Actual Costs" means the Actual Costs to be paid through the PID of a
specified portion of the Authorized Improvements, as described in Section IILB.2 and as shown
on Table III-A. PID-Funded Actual Costs includes all payments for Administrative Expenses.
42. "PID Reimbursement Agreement"means collectively or as applicable,the Improvement
Area 91 Reimbursement Agreement and/or any Future Improvement Area Reimbursement
Agreement.
43. "Prepayment Costs" means interest to the date of prepayment of any Assessment, plus
expenses related to the prepayment that are allowed by the PID Act and reasonably expected to be
incurred by or imposed upon the City as a result of the prepayment.
44. "Prepayment Reserve" has the meaning set forth in Section IV.H of this SAP.
45. "Property"is defined in Section II.A.
46. "Public Property" means real property, right of way and easements located within the
PID owned by or irrevocably offered and accepted for dedication to the federal government, the
State of Texas, the applicable County, the City, a school district, a public utility provider or any
other political subdivision or public agency, whether in fee simple, through an easement, by plat
or otherwise.
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47. "SAP" is defined in Section I.A.2. The concept shall include updates, modifications, and
amendments of the SAP as approved by the City Council from time to time in accordance with the
procedures set forth in this SAP and in the PID Act,including updates prepared in connection with
the future issuance of PID Bonds, if any, and in connection with any Annual Service Plan Update,
and in connection with the approval by the City Council of each Assessment Ordinance.
48. "Trustee"means the trustee specified in an Indenture and any successor permitted by the
Indenture.
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Section II
PROPERTY INCLUDED IN THE PID
A. Property Included in the PID
The PID is comprised of the Property shown in Table II-A. Legal descriptions for all Parcels
within the PID are included in Appendix B. The PID, encompassing approximately 1,703.5682
acres, is located within the corporate limits and ETJ of the City. It is anticipated that the Property
will be developed in seven phases containing approximately 3,317 single family homes.
Improvement Area 91, consisting of approximately 251.01 acres, is depicted on Table II-B and
will include 587 single family residential lots. Table II-C presents the breakdown of the single
family residential lots by Lot Type within Improvement Area 91 and the lot layout for
Improvement Area 91 is presented in Table II-D. The Future Improvement Areas are depicted on
Table II-E and will include approximately 2,730 single family residential lots.
TABLE II-A
Public Improvement District Boundaries
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AISD PRD PERTY \ I
BDUNDARY l ✓ /lrl'
(exClutlEA from PID} '
H WALSH RANCH QUAIL VALLEY
` PU SLID IM PROVEN ENT
li
DISTRICT 80 JNDARY iIf-
Oj
IN RSTATE 70
.—.,„ - .....
WALSH RAN C H QUAL L VALLEY
�,°io. •,� �' PUBLIC IMPROVEMENT
'•` •.�� DISTRICT BOUNDARY
X WALSH RANCH
QUAIL VALLEY
' VICINRY MAP
I H.T.E.
Note: Total acreage for the PID boundaries outlined herein is approximately 1,703.5682 acres.
10
1920.010\58189.10
TABLE II-B
Improvement Area#1 Map
i i
AISD PROPERTY -
BOUNDARY
(—I.ded fin.ADI
: L-O WEATH ERF ORD ROA --f-w--'•�-�
I
I
Irmprm eAnenl Arca 41
I
`---- I
•'�4 k�S v �iti
Tai 1 I I
INTERSTA g30 I
�_� �•,, � YPALSH RANCH(ZUAIL VALLEY
PUBLIC NIPROVEMENT
pSTRICTBOUNDARY
WALSH RANCH
!'--- QUAIL VALLEY
` VICINITY MAP
1 ®\ N.T.s.
Note: Total acreage for the Improvement Area#1 boundaries outlined herein is approximately 251.01 acres.
11
1920.010\58189.10
Table II-C
Improvement Area#1
Lot Breakdown by Type
Lot Type #of Lots
35 28
50 239
60 182
70 98
100 40
Tota 1 587
Souce: Quail Valley Devco I, LLC and Walsh Ranches Limited
Partnership
12
1920.010\58189.10
P�
tl .l
pig
1
Ila
t�
ti
k
9
TABLE II-E
Future Improvement Areas Ma
i
i
w+iAr"a-WALL"
VIII
a,w..VpwLer
14
1920.010\58189.10
Section III
DESCRIPTION OF THE AUTHORIZED IMPROVEMENTS
A. Authorized Improvements Overview
1. Section 372.003 of the PID Act authorizes a City to undertake the following improvements:
(i) landscaping;
(ii) erection of fountains, distinctive lighting, and signs;
(iii) acquiring, constructing, improving, widening, narrowing, closing, or rerouting of
sidewalks or of streets, any other roadways, or their rights-of way;
(iv) construction or improvement of pedestrian malls;
(v) acquisition and installment of pieces of art;
(vi) acquisition, construction or improvement of libraries;
(vii) acquisition, construction or improvement of off-street parking facilities;
(viii) acquisition, construction, improvement or rerouting of mass transportation
facilities;
(ix) acquisition, construction or improvement of water, wastewater, or drainage
facilities or improvements;
(x) the establishment or improvement of parks;
(xi) projects similar to those listed in Subdivisions (i)-(x);
(xii) acquisition, by purchase or otherwise, of real property in connection with an
authorized improvement;
(xiii) special supplemental services for improvement and promotion of the district,
including services relating to advertising, promotion, health and sanitation, water
and wastewater, public safety, security, business recruitment, development,
recreation and cultural enhancement;
(xiv) payment of expenses incurred in the establishment, administration and operation of
the district; and
(xv) the development, rehabilitation, or expansion of affordable housing.
2. The City has determined to undertake a portion of the Authorized Improvements described
in Section IIIM and Section IILC. Any change to the Authorized Improvements will require the
approval of the City.
B. Descriptions and Costs of Improvement Area 41 Funded Improvements
1. The Improvement Area 91 Funded Improvements are that portion of the Authorized
Improvements that confer a special benefit solely on Improvement Area 91 and the costs of which
are PID-Funded Actual Costs that will be financed from Assessments levied against Improvement
Area 91 Assessed Property and from the proceeds of PID Bonds, if any, secured by such
Assessments. For the avoidance of doubt, not all Authorized Improvements benefitting
Improvement Area 91 are Improvement Area 91 Funded Improvements.
15
1920.010\58189.10
2. Table III-A shows the Actual Costs of all Authorized Improvement in Improvement Area
41, including the PID-Funded Actual Costs of the Improvement Area 91 Funded Improvements.
The costs shown in Table III-A may be revised in Annual Service Plan Updates. The PID-Funded
Actual Costs of the Improvement Area 91 Funded Improvements are to be funded from: (i) the
principal portion of the Annual Installments collected from Assessments levied against
Improvement Area 91 Assessed Property in accordance with the Improvement Area 91
Reimbursement Agreement; (ii)the proceeds of PID Bonds,if any, secured by Assessments levied
against Improvement Area 91 Assessed Property and issued in one or more series; and (iii) at the
sole discretion of the City, funds from any other lawfully available and unencumbered source.
3. The Authorized Improvements being constructed in Improvement Area 91 and the Actual
Costs thereof are described in Sections 3.1 through 3.6 below. The Improvement Area 91 Funded
Improvements and the PID-Funded Actual Costs thereof are described in Section 3.5 below. The
PID-Funded Actual Costs of the Improvement Area 91 Funded Improvements are also shown on
Table III-A below.
3.1 Earthwork&Erosion Control-The Erosion and Sedimentation Control Measures of
the improvements will include stabilized construction entrances, silt fence located
downstream of all disturbed area, rock berms, inlet protection, and protection of mature
trees and vegetation. The Actual Costs of the Earthwork and Erosion Control
improvements are $3,514,622.
3.2 Storm Drainage - The storm drainage improvements (the "Storm Drainage
Improvements")consist of the construction and installation of pipes,inlets, manholes,
detention facilities, easements, encasements, and appurtenances necessary to provide
storm drainage for streets and surrounding development in Improvement Area 91. The
storm drain improvements will be constructed according to City standards, determined
in the City's sole discretion. The Actual Costs of the Storm Drain Improvements are
$3,442,755.
3.3 Water - The water improvements (the "Water Improvements") consist of the
construction and installation of pipes, valves, blow-off and air release valves,
easements, encasements, and appurtenances necessary to provide a water distribution
system for Improvement Area 91. The water improvements will be constructed
according to City standards, determined in the City's sole discretion. The Actual Costs
of the Water Improvements are $2,448,956.
3.4 Waste Water- The wastewater improvements (the "Wastewater Improvements")
consist of the construction and installation of pipes, service lines, manholes, force
mains, lift stations, easements encasements, and appurtenances necessary to provide
sanitary service for Improvement Area 91. The wastewater improvements will be
constructed according to the City standards, determined in the City's sole discretion.
The Actual Costs of the Wastewater Improvements are $2,626,023.
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1920.010\58189.10
3.5 Paving - The roadway improvements (the "Roadway Improvements") consist of
the construction of road and thoroughfare improvements, including related earthwork,
retaining walls to support the roadways, signage, traffic signals and traffic control
devices for Improvement Area 91. The road improvements will be constructed
according to City standards, determined in the City's sole discretion. The Actual Costs
of the Roadway Improvements are $5,712,973. The Improvement Area 91 Funded
Improvements will include Roadway Improvements and the PID-Funded Actual Costs
of such improvements are $5,712,973.
3.6 Landscaping- The open space and trail improvements (the"Open Space and Trail
Improvements") consist of the construction of park facilities, playground equipment,
restrooms, landscape, irrigation, and 10' hike/bike trails to serve Improvement Area
91. The open space and trail system improvements will be constructed according to
City standards, determined in the City's sole discretion. The Actual Costs of the Open
Space and Trail Improvements are $2,330,585. The Improvement Area 91 Funded
Improvements will include a portion of the Open Space and Trail Improvements and
the PID-Funded Actual Costs of such improvements are $637,027.
Table III-A
Improvement Area #1
Authorized Improvements
Actual Costs
Reimbursed by Actual Costs
Assessments Funded by
Description Costs (1) Developer
Authorized Improvements
Bonds& Mobilization $ 1,054,976 $ - $ 1,054,976
Earthwork& Erosion Control 3,514,622 - 3,514,622
Storm Drainage 3,442,755 - 3,442,755
Water 2,448,956 - 2,448,956
Waste Water 2,626,023 - 2,626,023
Paving (2) 5,712,973 5,712,973 -
Landscaping (2) 2,330,585 637,027 1,693,558
Project Contingency 2,773,202 - 2,773,202
Engineering 2,719,068 - 2,719,068
City Inspection & Fees 1,318,095 - 1,318,095
Professional Fees 45,266 - 45,266
Construction Fees 1,532,073 - 1,532,073
Total Authorized Improvements $ 29,518,594 $ 6,350,000 $ 23,168,594
Note: Costsov` e' ' y Hui - o Tars Engineers. The figures shown in Table III-A may be revised in nnua"'
Service Plan Updates but such revisions shall not increase the principal amount of the Assessments.
(1)i.e.; the PID-Funded Actual Costs of the Improvement Area#1 Funded Improvements.
(2)The Improvement Area#1 Funded Improvements consist of the Paving Improvments and a portion of the
Landscaping Improvements (see Sections III.B.3.5 and 3.6 above).
17
1920.010\58189.10
C. Descriptions and Costs of Future Improvement Area Improvements
As Future Improvement Areas are developed and Future Improvement Area Assessments are
levied, this SAP will be amended to identify the specific Future Improvement Area Improvements
that confer a special benefit to the property inside each Future Improvement Area (e.g. Table III-
B will be updated to reflect the costs for the specific Future Improvement Area Improvements
financed within the specific Future Improvement Area being developed.)
Table III-B
Future Improvement Areas
Authorized Improvements and Lot Count
Authorized ImprovementsTotal Area#2 Area#3 Area#4 Area#5 Area#6 Area#7
#of Lots 2,729 335 598 363 553 403 477
Bonds&Mobilization $ 5,473,689 $ 592,426 $ 561,845 $ 1,055,327 $ 1,080,501 $ 939,939 $ 1,243,651
Earthwork&Erosion Control 18,235,440 1,973,651 1,871,770 3,515,792 3,599,657 3,131,380 4,143,190
Storm Drainage 17,862,561 1,933,294 1,833,496 3,443,901 3,526,052 3,067,349 4,058,469
Water 12,706,286 1,375,222 1,304,232 2,449,771 2,508,208 2,181,917 2,886,936
Waste Water 13,624,988 1,474,654 1,398,532 2,626,897 2,689,559 2,339,676 3,095,670
Paving 29,641,474 3,208,144 3,042,538 5,714,875 5,851,197 5,090,018 6,734,702
Landscaping 12,092,123 1,308,750 1,241,191 2,331,361 2,386,973 2,076,453 2,747,395
Project Contingency 14,415,802 1,559,584 1,479,573 2,780,183 2,847,053 2,472,820 3,276,589
Engineering 14,107,747 1,526,904 1,448,084 2,719,973 2,784,855 2,422,575 3,205,356
City Inspection&Fees 6,838,870 740,182 701,973 1,318,534 1,349,986 1,174,367 1,553,828
Professional Fees 506,680 48,221 50,689 105,860 113,900 60,466 127,544
Construction Fees 7,949,084 860,342 815,931 1,532,583 1,569,141 1,365,012 1,806,075
$153,457,473 $ 16,601,709 $ 15,750,452 $ 29,595,420 $ 30,307,635 $ 26,322,375 $ 34,879,882
Estimated Year to Levy Assessments 1 20211 20241 20271 20301 20331 2036
Estimated Year to Issue PID Bonds 1 20231 20261 20291 20321 20351 2038
Estimated Costs Reimbursed by PID $ 34,005,000 1$ 4,905,000 1$ 6,340,000 1$ 4,150,000 1$ 6,780,000 1$ 5,230,000 1$ 6,600,000
Ile Devco I,LLC.
18
1920.010\58189.10
Section IV
ASSESSMENT PLAN
A. Introduction
1. The PID Act requires the City Council to apportion the PID-Funded Actual Costs of the
Authorized Improvements to be funded through the PID based on the special benefits conferred
on each Parcel from the Authorized Improvements. The PID Act provides that the PID-Funded
Actual Costs may be assessed: (i) equally per front foot or square foot; (ii) according to the value
of the property as determined by the governing body, with or without regard to improvements on
the property; or (iii) in any other manner that results in imposing equal shares of the cost on
property similarly benefited. The PID Act further provides that the City Council may establish the
methods of assessing the special benefits for various classes of improvements.
2. Table IV-A details the allocation of PID-Funded Actual Costs of the Improvement Area
91 Funded Improvements to the Improvement Area 91 Assessed Property.
3. This Section IV is intended to: (1) describe the special benefit conferred upon each Parcel
within Improvement Area 91 as a result of the Improvement Area 91 Funded Improvements; (2)
provide the basis and justification for the determination by the City Council that these special
benefits exceed the amount of the Assessments levied; and(3)explain the methodologies by which
the City Council allocates and reallocates the special benefits of the Improvement Area 91 Funded
Improvements to Parcels so that equal shares of the PID-Funded Actual Costs being apportioned
to Parcels that are similarly benefited. The determination by the City Council of the assessment
methodologies set forth in this Section IV is the result of the discretionary exercise by the City
Council of its legislative authority and governmental powers, consistent with the PID Act, and is
conclusive and binding on the Developer and all future owners and developers of any Assessed
Property.
B. Special Benefit
1. The Assessed Property must receive a direct and special benefit from the Authorized
Improvements being funded through the PID that is equal to or greater than the amount of the
Assessments. The Improvement Area 91 Funded Improvements are provided solely for the benefit
of the Improvement Area 91 Assessed Property, and the benefit received from such Improvement
Area 91 Funded Improvements must be equal to or greater than the Assessments levied against the
Improvement Area 91 Assessed Property.
19
1920.010\58189.10
2. At the time of approval of this preliminary SAP, the Developer, Drees Custom Homes, L.P.,
Highland Homes-Dallas, LLC, Weekley Homes, LLC, Village Homes, LP and Toll Brothers
owned 100%of the Improvement Area#1 Assessed Property(collectively with the Developer, the
"Owners"). The final SAP will be updated to reflect any additional owners as of the date of
approval of the final SAP. The Owners have acknowledged that their property lies within the
boundaries of the PID and have consented to the levy of Assessments to finance the Improvement
Area 91 Funded Improvements.
3. If Lots are not platted in accordance with the approved entitlements, the Assessments for
each affected Lot will be allocated in an equitable manner,but in no event will such new allocation
increase the Maximum Assessment per Unit for each Parcel as identified in Table IV-B. If the
Assessment for the Assessed Property prior to subdivision exceeds the sum of the Assessments for
all newly divided Assessed Properties after such reallocation, the excess amount shall be prepaid
as a Mandatory Prepayment as provided under Section VLC herein.
4. The City Council determined that funding the PID-Funded Actual Costs through the PID
is beneficial to the City and confers a special benefit on the Improvement Area 91 Assessed
Property. The City Council has also determined that the special benefit from Improvement Area
91 Funded Improvements exceeds the amount of the Assessments levied against Improvement
Area 91 Assessed Property. This conclusion is supported by the evidence, information, and
testimony provided to the City Council.
C. Allocation of Actual Costs of Improvement Area #1 Funded Improvements
The Improvement Area 91 Funded Improvements will provide a special benefit to that portion of
the Property, other than the Non-Benefited Property, in Improvement Area 91. The PID-Funded
Actual Costs of the Improvement Area 91 Funded Improvements are, therefore, allocated entirely
to the Improvement Area 91 Assessed Property as shown in Table IV-A. The costs detailed in
Table IV-A are subject to revision through the Annual Service Plan Updates, but may not result
in increased Assessments except as authorized by this SAP and the PID Act.
20
1920.010\58189.10
Table IV-A
Improvement Area#1
Cost Allocation
Improvement Area#1
Authorized Improvement Total Cost(a) %Allocation(b) Share of Costs PID Funded Costs
Bonds&Mobilization $ 1,054,976 0% $ $
Earthwork&Erosion Control 3,514,622 0%
Storm Drainage 3,442,755 0%
Water 2,448,956 0%
Waste Water 2,626,023 0% -
Paving(2) 5,712,973 100.0000% 5,712,973 5,712,973
Landscaping(2) 2,330,585 27.3334% 637,027 637,027
Project Contingency 2,773,202 0% - -
Engineering 2,719,068 0%
City Inspection&Fees 1,318,095 0%
Professional Fees 45,266 0%
Construction Fees 1,532,073 0% - -
Total Authorized Improvements $ 29,518,594 $ 6,350,000 $ 6,350,000
(a)See Table III-A for details.
(b)The%Alloction represents PID-Funded Costs
D. Assessment Methodoln
1. The City Council may assess the PID-Funded Actual Costs against Assessed Property so
long as the special benefit conferred upon the Assessed Property by the corresponding Authorized
Improvements equals or exceeds the amount of the Assessments. The PID-Funded Actual Costs
may be assessed using any methodology that results in the imposition of equal shares of the PID-
Funded Actual Costs on Assessed Property similarly benefited.
2. Assessment Methodology for Improvement Area 91
2.1 For purposes of this SAP, the City Council has determined that the PID-Funded
Actual Costs of the portion of the Improvement Area 91 Funded Improvements shall be allocated
to the Improvement Area 91 Assessed Property by spreading the entire Assessment across all Lots
of Assessed Property within Improvement Area 91 based on the ratio of the estimated build out
value of each Lot to the total build out value for all Parcels within Improvement Area 91. The
assessment methodology described in this Section 2.1 is summarized in Table IV-B. Table IV-B
also summarizes for each Lot Type of Assessed Property within Improvement Area 91: (1) the
Assessment for each Lot Type;(2)the Annual Installment for each Lot Type; and(3)the equivalent
tax rate for each Lot Type based on estimated finished lot value and estimated completed home
price. This assessment methodology is anticipated to be used for each Future Improvement Area,
subject to the approval of the City Council. Table IV-C also summarizes for each Lot Type of
Assessed Property within Improvement Area 91: (1)the estimated finished lot to Assessment ratio
and (2) the estimated completed home price to Assessment ratio.
2.2 Based on the PID-Funded Actual Costs for the Improvement Area 91 Funded
Improvements, the City Council has determined that the benefit to the Improvement Area 91
Assessed Property from the Improvement Area 91 Funded Improvements is at least equal to the
Improvement Area 91 Assessments levied on the Improvement Area 91 Assessed Property.
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1920.010\58189.10
2.3 The Assessments and Annual Installments for each Lot of Assessed Property
located in Improvement Area#1 are shown on the Improvement Area#1 Assessment Roll attached
as Appendix A-1, and no Assessment shall be changed except as authorized by this SAP and the
PID Act. Table IV-B and Table IV-C summarizes the initial allocation of the Assessment for the
Improvement Area 91 Assessed Property at the time the initial Assessment Ordinance relating to
the Improvement Area 91 Funded Improvements was adopted by the City Council. The
information in Table IV-B and Table IV-C may be modified in a Service Plan Update approved
by the City Council, subject to the terms of this SAP, the PID Act, and any other documents
associated with the PID.
Table IV-13
Improvement Area#1
Assessment Allocation
Equivalent Equivalent
Estim ated Initial Year Tax Rate(per Tax Rate(per
Estimated Completed Initial Year Maximum Annual $100/AV)- $100/AV)-
Finished Lot Home Estimated Total Annual Assessment Installment Finished Lot Completed
Lot Width Units Value Value Build Out Value Assessment Installment Per Unit Per Unit Value Home Value
35 28 $ 53,410 $ 286,900 $ 8,033,200 $ 192,408 $ 14,466 $ 6,872 $ 517 $ 0.97 $ 0.18
50 239 $ 72,856 $ 356,700 $ 85,251,300 $ 2,041,909 $ 153,516 $ 8,544 $ 642 $ 0.88 $ 0.18
60 182 $ 89,479 $ 439,000 $ 79,898,000 $ 1,913,688 $ 143,876 $ 10,515 $ 791 $ 0.88 $ 0.18
70 98 $ 113,861 $ 559,500 $ 54,831,000 $ 1,313,293 $ 98,737 $ 13,401 $ 1,008 $ 0.88 $ 0.18
Custom 40 $ 170,000 $ 927,600 $ 37,104,000 $ 888,702 $ 66,815 $ 22,218 $ 1,670 $ 0.98 $ 0.18
Total 587 $ 265,117,500 $ 6,350,000 $ 477,409
Note: Estimates based on information available as of 2/22/17.The above estimate assumes an average 6.0% interest rate for the initial two years, a 5.0%
interest rate for the remaining 28 years,a 30 year term for the collection of the PID assessments,and an annual administrative expense of$45,000 increasing
at 2.0% per year.This information may be modified in a Annual Service Plan Update approved by the City Council,subject to the terms of this SAP,the PID
Act,and any other documents associated with the PID.
Table IV-C
Improvement Area#1
OL Estimated Value to Assessment Ratios
Estimated Initial Year Completed
Estimated Completed Initial Year Maximum Annual Finished Lot Home to
Finished Lot Home Estimated Total Annual Assessment Installment to Assessment Assessment
Lot Width Units Value Value Build Out Value Assessment Installment Per Unit Per Unit Leverage Leverage
35 28 $ 53,410 $ 286,900 $ 8,033,200 $ 192,408 $ 14,466 $ 6,872 $ 517 7.77 41.75
50 239 $ 72,856 $ 356,700 $ 85,251,300 $ 2,041,909 $ 153,516 $ 8,544 $ 642 8.53 41.75
60 182 $ 89,479 $ 439,000 $ 79,898,000 $ 1,913,688 $ 143,876 $ 10,515 $ 791 8.51 41.75
70 98 $ 113,861 $ 559,500 $ 54,831,000 $ 1,313,293 $ 98,737 $ 13,401 $ 1,008 8.50 41.75
Custom 40 $ 170,000 $ 927,600 $ 37,104,000 $ 888,702 $ 66,815 $ 22,218 $ 1,670 7.65 41.75
Total 587 $ 265,117,500 $ 6,350,000 $ 477,409
Note: Estimates based on information available as of 2/22/17.The above estimate assumes an average 6.0% interest rate for the initial two years, a 5.0%
interest rate for the remaining 28 years,a 30 year term for the collection of the PID assessments,and an annual administrative expense of$45,000 increasing
at 2.0% per year.This information may be modified in a Annual Service Plan Update approved by the City Council,subject to the terms of this SAP,the PID
Act,and any other documents associated with the PID.
E. Assessment and Annual Installments
1. The Assessments for the Improvement Area 91 Funded Improvements will be levied on
each Lot of Improvement Area 91 Assessed Property according to the Improvement Area 91
Assessment Roll. The Improvement Area 91 Annual Installments will be delinquent after January
31 of each year after the commencement of collection pursuant to Section VA and will be due in
the amounts shown on the Improvement Area 91 Assessment Roll, subject to any revisions made
during an Annual Service Plan Update.
22
1920.010\58189.10
F. Administrative Expenses
The cost of administering the PID and collecting the Annual Installments shall be paid for on a pro
rata basis by each Parcel or Lot within the PID based on the amount of the outstanding Assessment
remaining on such Parcel or Lot. The Administrative Expenses shall be collected as part of and in
the same manner as Annual Installments in the amounts shown on the Assessment Rolls.
G. Additional Interest Rate
Pursuant to the PID Act,if PID Bonds are issued, the interest rate for Assessments may exceed the
actual interest rate per annum paid on bonds issued by a PID by no more than one half of one
percent (0.50%) per annum, (the "Additional Interest Rate"). Forty percent (40.0%) of the funds
generated by the Additional Interest Rate (i.e. 0.20%) per annum will be dedicated to fund the
Prepayment Reserve as described in Section IV.H below. The remaining sixty percent (60.0%)
balance of the funds generated by the Additional Interest Rate (i.e. 0.30%)per annum is dedicated
to the Delinquency Reserve as described in Section IV.I below.
H. Prepayment Reserve
As described in Section IV.G above, if PID Bonds are issued, a portion of the funds generated by
the Additional Interest Rate will be allocated to fund the associated interest charged between the
date of prepayment of an Assessment and the date on which related PID Bonds are actually
redeemed (the "Prepayment Reserve"). If PID Bonds are issued, a Prepayment Reserve shall be
funded each year until it reaches 1.5% of the par amount of the related PID Bonds,but in no event
will the annual collections be more than 0.20%per annum higher than the actual interest rate paid
on the related PID Bonds. If the PID Act is subsequently amended to allow a prepayment of an
Assessment to include all applicable interest from the date of prepayment through and including
the date of the regularly scheduled PID Bond payments to be charged upon the prepayment of the
Assessment, the 0.20% per annum allocated to fund the associated interest charged between the
date of prepayment of the Assessment and the date on which PID Bonds are actually prepaid may
be eliminated at the election of the City. If the Prepayment Reserve requirement is so eliminated
or in a given year the additional reserve is fully funded at 1.5%of the par amount of the PID Bonds,
the City can allocate the Prepayment Reserve component of the Additional Interest Rate collected
during that year to the Delinquency Reserve or to pay Administrative Expenses as set forth in the
applicable Indenture.
23
1920.010\58189.10
L Delinquency Reserve
As described in Section IV.G above, if PID Bonds are issued, a portion of the funds generated by
the Additional Interest Rate will be allocated to offset any possible delinquent payments. This
additional reserve (the "Delinquency Reserve") shall be funded each year up to 4.0% of the par
amount of the related PID Bonds, but in no event will the annual collection of the Delinquency
Reserve be more than 0.30%per annum higher than the actual interest rate paid on the related PID
Bonds. If in a given year the additional reserve is fully funded at 4.0% of the par amount of the
related PID Bonds, the City can allocate the Delinquency Reserve component of the Additional
Interest Rate collected during that year to the Prepayment Reserve, or to pay Administrative
Expenses or to redeem PID Bonds as set forth in the applicable Indenture.
J. Lew of Assessments in Future Improvement Areas
Assessments for each Future Improvement Area of the PID will be levied on a date mutually agreed
upon by the City and the Developer and will be collected as described in Section V.
24
1920.010\58189.10
Section V
SERVICE PLAN
1. The PID Act requires that a service plan (i) cover a period of at least five years, and (ii)
define the annual projected costs and indebtedness for the Authorized Improvements undertaken
within the PID during the five year period. It is anticipated that it will take approximately 12
months for the Improvement Area 91 Funded Improvements to be constructed. The timetable for
Future Improvement Areas Improvements will be determined and included in future updates to
this SAP.
2. The Actual Costs and PID-Funded Actual Costs for the Improvement Area 91 Authorized
Improvements and payment of expenses incurred in the establishment, administration and
operation of the PID are shown in Table V-A. The Service Plan shall be reviewed and updated at
least annually for purposes of determining the annual budget for Administrative Expenses,
updating the estimated costs of the Authorized Improvements, and updating the Assessment Rolls
("Annual Service Plan Update").
3. Table V-A summarizes the sources and uses of funds required to construct the Authorized
Improvements and establish the PID. The amounts shown in Table V-A shall be updated each
year in the Annual Service Plan Update to reflect any revisions to the Actual Costs.
4. The City and the Developer acknowledge and agree that phasing of the development is
necessary to respond to market conditions and demand but also acknowledge that it is the goal of
the City for full development of the PID to occur as rapidly as possible. Therefore, the levy of
assessments for the final phase of development must occur within twenty-five (25) years after the
date on which assessments are levied for the first phase of development (the "Assessment
Deadline"). To the extent any portion of the Maximum Reimbursement, as defined in the Master
Reimbursement Agreement, has not been allocated to an Assessment levied on or before the
Assessment Deadline, the Developer shall not be entitled to reimbursement for that portion, and
the City shall not be obligated to make an Assessment for the unrecovered portion. Collection of
Assessments for each Future Improvement Area may not commence until the date on which(a)all
Authorized Improvements for that Future Improvement Area have been completed and accepted
by the City, and(b) such Assessments can be collected in the same manner by which the City's ad
valorem taxes are collected.
25
1920.010\58189.10
5. At the request of the Developer, the City may, in its discretion, issue PID Bonds to
accelerate and monetize some or all of the amounts payable under an applicable PID
Reimbursement Agreement; provided, however, that (a) PID Bonds shall have a maturity of no
more than twenty (20) years from the date of their initial issuance, and (b) the issuance of PID
Bonds for a Future Improvement Area shall be conditioned on full compliance with all of the
following: (i) the Developer has filed a written notice of its request that the City issue PID Bonds
for that Future Improvement Area prior to the date on which an assessment ordinance for that
Future Improvement Area is first adopted; (ii) the Developer has completed all Authorized
Improvements required to file final plats for the entirety of that Future Improvement Area; (iii)
final plats for the entire subsequent Future Improvement Area are approved filed with and
approved, if necessary, by the City, (iv) the filing of such final plats is made within five (5)years
from the date on which Assessments are initially collected in the Future Improvement Area for
which PID Bonds are to be issued; and (v) the Developer is in full compliance with the terms of
all of its Continuing Disclosure Agreements entered into with respect to any outstanding PID
Bonds. Notwithstanding clauses (iii) and (iv) above, PID Bonds associated with the final Future
Improvement Area may be issued as soon as collection of Assessments for that Future
Improvement Area has commenced, as discussed in Section VA above. The same basic process
outlined above shall apply to issuance of PID Bonds for Improvement Area# 1,provided,however,
that no written notice of Developer's request for bonds shall be required. In the event of any
conflict between the terms of Section VA or V.5 and the Master Reimbursement Agreement or
any PID Reimbursement Agreement, the terms of the Master Reimbursement Agreement or
applicable PID Reimbursement Agreement shall control.
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Table V-A
Improvement Area #1
Sources and Uses of Funds
Costs
Reimbursed by Costs Funded
Description Costs Assessments by Developer
Sources:
PID Reimbursement Agreement Improvement Area#1 $ 6,350,000 $ 6,350,000 $ -
Developer Cash Contribution 23,168,594 - 23,168,594
Total Sources $ 29,518,594 $ 6,350,000 $ 23,168,594
Uses:
Authorized Improvements
Bonds & Mobilization $ 1,054,976 $ - $ 1,054,976
Earthwork & Erosion Control 3,514,622 - 3,514,622
Storm Drainage 3,442,755 - 3,442,755
Water 2,448,956 - 2,448,956
Waste Water 2,626,023 - 2,626,023
Paving 5,712,973 5,712,973 -
Landscaping 2,330,585 637,027 1,693,558
Project Contingency 2,773,202 - 2,773,202
Engineering 2,719,068 - 2,719,068
City Inspection & Fees 1,318,095 - 1,318,095
Professional Fees 45,266 - 45,266
Construction Fees 1,532,073 1 - 1,532,073
Total Uses: $ 29,518,594 $ 6,350,000 $ 23,168,594
(a)See Table III-A and IV-A for details.
6. Table V-B summarizes the sources and uses of funds assuming the completion of the
planned future issuance of PID Bonds. The amounts shown in Table V-B shall be updated each
year in the Annual Service Plan Update to reflect any revisions.
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Table V-B
Sources and Uses
Sources of Funds Improvement Area #1
Bond par amount $ 5,015,000
Remainder balance- Reimbursement Agreement $ 1,335,000
Total Bonds and Reimbursement Agreement $ 6,350,000
Developer Cash Contribution-Authorized Improvements (a) $ 24,075,094
Total Sources for Authorized Improvements $ 30,425,094
Use of Funds
Bonds & Mobilization $ 1,054,976
Earthwork & Erosion Control $ 3,514,622
Storm Drainage $ 3,442,755
Water $ 2,448,956
Waste Water $ 2,626,023
Paving $ 5,712,973
Landscaping $ 2,330,585
Project Contingency $ 2,773,202
Engineering $ 2,719,068
City Inspection & Fees $ 1,318,095
Costs of issuance
Capitalized Interest (c) $ -
Reserve fund (b) $ 405,000
PID establishment/operation and other costs of issuance (d) $ 351,050
Underwriter's discount/Underwriter's Counsel (e) $ 150,450
Subtotal $ 906,500
Total Uses $ 30,425,094
(a) Owner will initally fund all costs. Owner will be reimbursed from the Assessments in accordance with the
Improvement Area#1 Reimbursement Agreement and the planned issuance of PID Bonds.
(b) The planned PID Bonds will include a debt service reserve fund equal to the Reserve Account Requirement as
defined in the Indenture.
(c)The planned Improvement Area#1 PID Bonds are expected to include zero months of capitalized interest. The actual
amounts of capitalized interest will be adjusted at the time of the planned issuance of the PID Bonds.
(d)The estimates presented here will be adjusted to the actual costs at the time of the planned issuance of PID Bonds.
(e)The planned PID Bonds assume a 3.0%Underwriter Discount/Underwriter Counsel Fee.
7. The projected Improvement Area 41 Annual Installments for the first six years after the
approval of this SAP, assuming the issuance of PID Bonds two years after levying of the
Assessments, for the PID are presented in Table V-C. The projected Annual Installments for
Future Improvement Areas will be included in subsequent SAPS at the time Assessments for the
Future Improvement Areas are paid in accordance with the applicable Future Improvement Area
Reimbursement Agreement. The projected Annual Installments are subject to revision and shall
be updated in the Annual Service Plan Update to reflect any change expected for each year.
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Table V-C
Improvement Area #1
Annual Installments
Year Ending Principal Interest Administrative Annual PID
September 30, Pa ments Expense Expenses Installments
2018 $ - $ - $ - $ -
2019 51,409 381,000 45,000 477,409
2020 53,593 377,915 45,900 477,409
2021 118,341 312,250 46,818 477,409
2022 123,322 306,333 47,754 477,409
2023 128,533 300,167 48,709 477,409
Tota I $ 423,789 1 $ 1,296,665 1 $ 189,182 1 $ 1,909,635
Note: The projected Annual Installments are the expenditures associated with the
formation of the PID, interest expense, and the administration of the PID. The
reimbursements are based on a 30 year term for the PID, a 6.00% interest rate for
the initial two years and a 5.0% interest rate for the remaining 28 years.
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Section VI
TERMS OF THE ASSESSMENTS
A. Amount of Assessments and Annual Installments for Parcels Located Within
Improvement Area#1
The Assessments and Annual Installments for the Improvement Area 91 Assessed Property are
shown on the Improvement Area 91 Assessment Roll. The Assessments and Annual Installments
shall not be changed except as authorized by this SAP and by the PID Act and approved by City
Council. The Improvement Area 91 Annual Installments shall be collected in an amount sufficient
to pay principal and interest on any PID Bonds, any amounts payable pursuant to the Improvement
Area 91 Reimbursement Agreement(subject to the terms thereof),to fund the Prepayment Reserve
and the Delinquency Reserve, and to pay the Administrative Expenses.
B. Reallocation of Assessments for Parcels Located Within the PID
1. Upon Division Prior to Recording of Subdivision Plat
1.1 Upon the division of any Assessed Property (without the recording of subdivision
plat), the Administrator shall reallocate the Assessment for the Assessed Property prior to the
division among the newly divided Assessed Properties in accordance with the assessment
methodology as presented in Section IV. D. 2.
1.2 If Lots are not platted in accordance with the approved entitlements, the
Assessments for each affected Lot will be allocated in an equitable manner, but in no event will
such new allocation increase the total Assessment for each Parcel as identified in Table IV-B.
1.3 The reallocation of an Assessment for Assessed Property that is a homestead under
Texas law may not exceed the Assessment prior to the increase or reallocation. Any reallocation
pursuant to this section shall be reflected in a Service and Assessment Plan Update approved by
the City Council. The reallocation herein shall be considered an administrative action that will not
require the City Council to issue notice and hold a public hearing.
1.4 The sum of the Assessments for all newly divided Assessed Properties shall equal
the Assessment for the Assessed Property prior to subdivision. The calculation shall be made
separately for each newly divided Assessed Property. Any reallocation pursuant to this section
shall be reflected in an update to this Service and Assessment Plan approved by the City Council.
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2. Upon Subdivision by a Recorded Subdivision Plat
2.1 Once a Lot has an Assessment applied to it, as shown in Table IV-B, and is then
subdivided again, such newly subdivided lots will be the Assessment of the applicable lot size as
set forth in Table IV-B. In no event will the new subdivision cause the sum of the Assessments
for the newly subdivided Lots to be greater than the Assessment for the undivided Lot prior to its
subdivision.
2.2 The allocation method used above is to insure there will not be an increase in the
Assessment for each specific Parcel. If Lots are not platted in accordance with the approved
entitlements, the Assessments for each affected Lot will be allocated in an equitable manner.
3. Upon Consolidation
Upon the consolidation of two or more Assessed Properties, the Assessment for the
consolidated Assessed Property shall be the sum of the Assessments for the Assessed
Properties prior to consolidation. The reallocation of an Assessment for an Assessed
Property that is a homestead under Texas law may not exceed the Assessment for such
Assessed Property prior to the reallocation. Any reallocation pursuant to this section shall
be calculated by the Administrator and reflected in an update to this SAP approved by the
City Council. The consolidation of any Assessed Property as described herein shall be
considered an administrative action and will not require any notice or public hearing (as
defined in the PID Act)by the City Council.
4. Upon Transfer between Parcels with Different Uses
4.1 Should an owner of an Assessed Property choose to transfer the intended land use
between all or a portion of one or more Parcels or Lots, in no event will the transfer cause
the sum of the Assessments for the affected Parcels or Lots to be greater than the
Assessment for those Parcels or Lots prior to the transfer of use.
4.2 If uses are transferred among Parcels or Lots, the Assessments for each affected Parcel
or Lot will be allocated in an equitable manner.
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C. Mandatory Prepayment of Assessments
If Assessed Property or a portion thereof is transferred to a party that is exempt from the
payment of the Assessment under applicable law, or if an owner causes a Parcel or portion
thereof to become Non-Benefited Property, the owner of such Parcel or portion thereof
shall pay to the City the full amount of the Assessment,plus all Prepayment Costs,for such
Parcel or portion thereof prior to any such transfer or act (a "Mandatory Prepayment").
Should a Mandatory Prepayment of Assessments occur,the owner of such Parcel or portion
thereof shall notify the City and the Administrator no later than thirty (30) days after the
date of the payment of the Mandatory Prepayment. The sum of the Assessments for all
newly divided Assessed Properties shall equal the Assessment for the Assessed Property
prior to subdivision. If the Assessment for the Assessed Property prior to subdivision
exceeds the sum of the Assessments for all newly divided Assessed Properties after such
reallocation, the Parcel owner shall pay the excess Assessment amount as a Mandatory
Prepayment.
D. Reduction of Assessments
1. If after all Authorized Improvements to be funded through the PID have been completed
and the Actual Costs for such Authorized Improvements are less than the PID-Funded
Actual Costs used to calculate the Assessments, resulting in an excess Assessment, then
the City may, at its discretion, reduce the Assessment for each Assessed Property pro rata
such that the sum of the resulting reduction in the Assessments for all Assessed Properties
equals the excess Assessments Additionally,the City may, at the request of the Developer,
use such excess Assessments to fund and/or reimburse the Developer for, and/or directly
fund, additional Authorized Improvements.
2. Similarly, if the Developer does not undertake some of the Authorized Improvements to
be funded through the PID, as set forth in Table III-A, resulting in excess Assessments,
then the City may, at the City's sole discretion, reduce the Assessment for each Assessed
Property pro-rata to reflect only the PID-Funded Actual Costs that were expended and
deposit and apply such excess Assessments as described in the paragraph immediately
above.
E. Payment of Assessments
1. Payment in Full
1.1 The Assessment for any Parcel may be paid in full at any time in accordance with the
PID Act. The payment shall include all Prepayment Costs, if any.
1.2 If an Annual Installment has been billed prior to payment in full of an Assessment, the
Annual Installment shall be due and payable and shall be credited against the payment
in full amount upon payment.
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1.3 Upon payment in full of an Assessment and all Prepayment Costs,the City shall deposit
the payment in accordance with the applicable PID Reimbursement Agreement;
whereupon, the Assessment for the Parcel shall be reduced to zero, and the Parcel
owner's obligation to pay the Assessment and Annual Installments thereof shall
automatically terminate. The City shall provide the owner of the affected Assessed
Property a recordable"Notice of PID Assessment Termination."
1.4 At the option of a Parcel owner, the Assessment on any Parcel may be paid in part in
an amount equal to the amount of prepaid Assessments plus Prepayment Costs, if any,
with respect thereto. Upon the payment of such amount for a Parcel, the Assessment
for the Parcel shall be reduced by the amount of such partial payment, the Assessment
Roll shall be updated to reflect such partial payment, and the obligation to pay the
Annual Installment for such Parcel shall be reduced to the extent the partial payment is
made.
2. Payment of Annual Installments
2.1 The PID Act provides that an Assessment for a Parcel may be paid in full at any time.
If not paid in full,the PID Act authorizes the City to collect interest and collection costs
on the outstanding Assessment. An Assessment for a Parcel that is not paid in full will
be collected in Annual Installments, as defined in Section LB.5, in the amounts shown
on the applicable Assessment Roll, which includes interest on the outstanding
Assessment and Administrative Expenses.
2.2 The Annual Installments may not exceed the amounts shown on the applicable
Assessment Roll except pursuant to any amendment or update to this SAP.
2.3 The Annual Installments shall be reduced to equal the actual costs of repaying any PID
Bonds,PID Reimbursement Agreement,or actual Administrative Expenses,taking into
consideration any other available funds for these costs such as interest income on
account balances.
2.4 The Annual Installments as listed on the Assessment Roll have been calculated as
having a term of 30 years from initial collection, and assuming an interest rate of 6.0%
for the initial two years or collection and 5.0%for the remaining 28 years of collection.
The interest rate assumptions are in conformance with the PID Act assuming an index
rate of 4.03% as provided by The Bond Buyer's Revenue Bond Index dated February
9, 2017. The principal amounts of Annual Installments may not exceed the amounts
shown on the Assessment Roll except pursuant to any amendment or update to this
SAP. The interest on the Assessments or Annual Installments includes the interest
generated from the Additional Interest Rate.
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F. Collection of Annual Installments; Deferred Collection of Improvement Area #1
Annual Installments
1. The Administrator shall, no less frequently than annually, prepare and submit to the City
for its approval, an Annual Service Plan Update to allow for the billing and collection of Annual
Installments. Each Annual Service Plan Update shall include updated Assessment Rolls and a
calculation of the Annual Installments for each Assessed Property. Administrative Expenses shall
be allocated among Assessed Properties in proportion to the amount of the Annual Installments
for the Assessed Property. Each Annual Installment shall be reduced by any credits applied.
Annual Installments may be collected by the City (or such entity to whom the City directs) in the
same manner and at the same time as ad valorem taxes. Annual Installments shall be subject to
the penalties,procedures, and foreclosure sale in case of delinquencies as set forth in the PID Act.
The City may provide for other means of collecting the Annual Installments to the extent permitted
under the PID Act. The Assessments shall have the lien priority as specified in the PID Act.
2. Any sale of Assessed Property for nonpayment of the delinquent Annual Installments shall
be subject to the lien established for the remaining unpaid Annual Installments against such
Assessed Property, and such Assessed Property may again be sold at a judicial foreclosure sale if
the purchaser thereof fails to make timely payment of the non-delinquent Annual Installments
against such Assessed Property as they become due and payable.
3. Each Annual Installment, including the interest on the unpaid amount of an Assessment,
shall be billed and collected annually. Each Annual Installment together with interest thereon shall
be delinquent if not paid prior to February 1 of the following year. Delinquent Annual Installments
shall incur interest, penalties, and attorney's fees in the same manner as delinquent ad valorem
taxes. Annual Installments will be due when billed.
4. Collection of the Annual Installments associated with Improvement Area 91 of the PID
will be deferred pursuant to Section 372.017 of the PID Act until the first date following the
completion of the Authorized Improvements in Improvement Area 91 on which such Annual
Installments can be collected in the same manner by which the City collects its ad valorem taxes.
Collection of the Annual Installments associated with Improvement Area 91 is anticipated to
commence by October 1, 2018, with such Annual Installments being delinquent if not paid on or
before January 31, 2019.
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Section VII
ASSESSMENT ROLLS
A. Improvement Area#1 Assessment Roll
1. The City Council has evaluated each Lot in Improvement Area 91 (based on numerous
factors such as the applicable zoning for developable area,the use of proposed Owners Association
property, the Public Property, the types of Authorized Improvements, and other development
factors deemed relevant by the City Council)to determine the amount of Assessed Property within
Improvement Area 91.
2. The Improvement Area #1 Assessed Property will be assessed for the special benefits
conferred upon such property by the Improvement Area 91 Funded Improvements. Table V-A
summarizes the $6,350,000 in special benefit received by such property from the Improvement
Area 91 Funded Improvements. The total amount of the PID-Funded Actual Costs is $6,350,000,
which is equal to the benefit received by the Assessed Property. Accordingly,the total Assessment
to be applied to the Improvement Area 91 Assessed Property is $6,350,000 plus annual interest
and Administrative Expenses. The Assessment for each Improvement Area 91 Assessed Property
is calculated based on the allocation methodologies described in Section W.E. The Assessment
Roll for Improvement Area 91 Assessed Property is attached as Appendix A-1.
B. Future Improvement Area Assessment Roll
As Future Improvement Areas are developed, this SAP will be amended to determine the
Assessment for each Parcel or Lot located within such Future Improvement Area, and an appendix
will be added as the Future Improvement Area Assessment Roll for such Future Improvement
Area.
C. Annual Assessment Roll Updates
1. The Administrator shall, in consultation with City staff, prepare, and shall submit to the
City Council for approval,updates to the Assessment Rolls and in or as part of the Annual Service
Plan Updates to reflect changes such as (i) the identification of each Parcel, (ii) the Assessment
for each Assessed Property, including any adjustments authorized by this SAP and the PID Act;
(iii) the Annual Installments for the Assessed Property for the year (if the Assessment is payable
in installments); and(iv)payments of the Assessment, if any, as provided by Section VLA.
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1920.010\58189.10
2. Annual Service Plan Updates shall reflect the actual interest of the PID Bonds, if any, or
as outlined in the applicable PID Reimbursement Agreement, on which the Annual Installments
shall be paid plus the Additional Interest Rate, if any, any reduction in the Assessments, any
revisions in the PID-Funded Actual Costs, Assessments agreed upon in the applicable PID
Reimbursement Agreement, and Developer funds.
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1920.010\58189.10
Section VIII
MISCELLANEOUS PROVISIONS
A. Administrative Review
1. The City may elect to designate a third party,who is not an officer or employee of the City,
to serve as Administrator of the PID. The City shall notify the property owners within the PID in
writing upon appointing a third party Administrator.
2. To the extent consistent with the PID Act,if an owner of the Assessed Property claims that
a calculation error has been made in an Assessment Roll, including the calculation of the Annual
Installment, that owner must send a written notice describing the error to the Administrator no
later than thirty (30) days after the date the invoice or other bill for the Annual Installment is
received. If the owner fails to give such notice, such owner shall be deemed to have accepted the
calculation of the Assessment Roll (including the Annual Installments) and to have waived any
objection to the calculation. The Administrator shall, in consultation with City staff, promptly
review the notice, and if necessary, meet with the Assessed Property owner, consider written and
oral evidence regarding the alleged error and decide whether, in fact, such a calculation error
occurred.
3. If the Administrator, in consultation with City staff, determines that a calculation error has
been made and the Assessment Roll should be modified or changed in favor of the Assessed
Property owner, such change or modification shall be presented to the City Council for approval,
to the extent permitted by the PID Act. A cash refund may not be made for any amount previously
paid by the Assessed Property owner(except for the final year during which the Annual Installment
shall be collected), but an adjustment may be made in the amount of the Annual Installment to be
paid in the following year. The decision of the Administrator regarding a calculation error relating
to the Assessment Roll may be appealed to City Council. Any amendments made to the
Assessment Roll pursuant to calculation errors shall be made pursuant to the PID Act.
B. Termination of Assessments
Each Assessment shall terminate on the date the Assessment is paid in full, including payment of
any unpaid Annual Installments and Delinquent Collection Costs, if any. After the termination of
the Assessment, and the collection of any delinquent Annual Installments and Delinquent
Collection Costs, the City shall provide the owner of the affected Parcel a recordable Notice of the
PID Assessment Termination.
C. Amendments
Amendments to this SAP may be made as permitted or required by the PID Act.
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1920.010\58189.10
D. Administration and Interpretation of Provisions
The City Council shall administer(or cause the administration of) the PID in accordance with the
PID Act, including all Annual Service Plan Updates.
E. Severability
1. If any provision, section, subsection, sentence, clause or phrase of this SAP, or the
application of same to an Assessed Property or any person or set of circumstances is for any reason
held to be unconstitutional, void or invalid, the validity of the remaining portions of this SAP or
the application to all or any portion of the Property or other persons or sets of circumstances shall
not be affected thereby, it being the intent of the City Council in adopting this SAP that no part
thereof, or provision or regulation contained therein shall become inoperative or fail by reason of
any unconstitutionality, voidness or invalidity of any other part hereof, and all provisions of this
SAP are declared to be severable for that purpose.
2. If any provision of this SAP is determined by a court to be unenforceable,the unenforceable
provision shall be deleted from this SAP, and the unenforceable provision shall, to the extent
possible, be rewritten to be enforceable and to give effect to the intent of the City.
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1920.010\58189.10
Appendix A-1
Improvement Area 41 Assessment Roll
Appendix A-1
Assessment by Lot Type
Assessment per Equivalent Tax
Lot Size # of Lots Assessment Lot Rate
35' 28 $ 192,408 6,872 $ 0.18
50' 239 $ 2,041,909 8,544 $ 0.18
60' 182 $ 1,913,688 10,515 $ 0.18
70' 98 $ 1,313,293 13,401 $ 0.18
Custom 40 $ 888,702 22,218 $ 0.18
Totals 587 $ 6,350,000
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1920.010\58189.10
Improvement Area#1
Annual Installments-All Lrh
Year Ending Reimbursement
September 30, Agreement Cash Administrative Annual
(a) Principal Interest Flow Expenses(b) Installment(c)
2019 $ 51,409 $ 381,000 $ 432,409 $ 45,000 $ 477,409
2020 53,593 377,915 431,509 45,900 477,409
2021 118,341 312,250 430,591 46,818 477,409
2022 123,322 306,333 429,654 47,754 477,409
2023 128,533 300,167 428,699 48,709 477,409
2024 133,985 293,740 427,725 49,684 477,409
2025 139,691 287,041 426,732 50,677 477,409
2026 145,662 280,056 425,718 51,691 477,409
2027 151,911 272,773 424,684 52,725 477,409
2028 158,452 265,178 423,630 53,779 477,409
2029 165,299 257,255 422,554 54,855 477,409
2030 172,467 248,990 421,457 55,952 477,409
2031 179,971 240,367 420,338 57,071 477,409
2032 187,828 231,368 419,197 58,212 477,409
2033 196,055 221,977 418,032 59,377 477,409
2034 204,671 212,174 416,845 60,564 477,409
2035 213,693 201,941 415,633 61,775 477,409
2036 223,142 191,256 414,398 63,011 477,409
2037 233,039 180,099 413,138 64,271 477,409
2038 243,405 168,447 411,852 65,557 477,409
2039 254,265 156,277 410,541 66,868 477,409
2040 265,640 143,563 409,204 68,205 477,409
2041 277,558 130,281 407,840 69,569 477,409
2042 290,045 116,403 406,448 70,960 477,409
2043 303,128 101,901 405,029 72,380 477,409
2044 316,837 86,745 403,582 73,827 477,409
2045 331,202 70,903 402,105 75,304 477,409
2046 346,256 54,343 400,599 76,810 477,409
2047 362,033 37,030 399,063 78,346 477,409
2048 378,567 18,928 397,496 79,913 477,409
Totals $ 6,350,000 $ 6,146,701 $ 12,496,701 $ 1,825,564 $ 14,322,265
(a)The 9/3011XX dates represent the fiscal year end for the Bond�11111111111111111117,
(b)Preliminary Estimate.Assumes a 2% increase per year. The administrative charges wiiI'be revised in
Annual Service Plan Updates based on actual costs.
(c)Annual Installments are calculated assuming a 6% interest rate for the first 2 years and a 5% interest rate
for the next 28 years plus Administrative Expenses.
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1920.010\58189.10
Improvement Area#1
35' Lots -Annual Installments per Unit
Year Ending Reimbursement
September 30, Agreement Cash Administrative Annual
(a) Principal Interest Flow Expenses(b) Installment(c)
2019 $ 56 $ 412 $ 468 $ 49 $ 517
2020 $ 58 $ 409 $ 467 $ 50 $ 517
2021 $ 128 $ 338 $ 466 $ 51 $ 517
2022 $ 133 $ 332 $ 465 $ 52 $ 517
2023 $ 139 $ 325 $ 464 $ 53 $ 517
2024 $ 145 $ 318 $ 463 $ 54 $ 517
2025 $ 151 $ 311 $ 462 $ 55 $ 517
2026 $ 158 $ 303 $ 461 $ 56 $ 517
2027 $ 164 $ 295 $ 460 $ 57 $ 517
2028 $ 171 $ 287 $ 458 $ 58 $ 517
2029 $ 179 $ 278 $ 457 $ 59 $ 517
2030 $ 187 $ 269 $ 456 $ 61 $ 517
2031 $ 195 $ 260 $ 455 $ 62 $ 517
2032 $ 203 $ 250 $ 454 $ 63 $ 517
2033 $ 212 $ 240 $ 452 $ 64 $ 517
2034 $ 221 $ 230 $ 451 $ 66 $ 517
2035 $ 231 $ 219 $ 450 $ 67 $ 517
2036 $ 241 $ 207 $ 448 $ 68 $ 517
2037 $ 252 $ 195 $ 447 $ 70 $ 517
2038 $ 263 $ 182 $ 446 $ 71 $ 517
2039 $ 275 $ 169 $ 444 $ 72 $ 517
2040 $ 287 $ 155 $ 443 $ 74 $ 517
2041 $ 300 $ 141 $ 441 $ 75 $ 517
2042 $ 314 $ 126 $ 440 $ 77 $ 517
2043 $ 328 $ 110 $ 438 $ 78 $ 517
2044 $ 343 $ 94 $ 437 $ 80 $ 517
2045 $ 358 $ 77 $ 435 $ 81 $ 517
2046 $ 375 $ 59 $ 434 $ 83 $ 517
2047 $ 392 $ 40 $ 432 $ 85 $ 517
2048 $ 410 $ 20 $ 430 $ 86 $ 517
Totals $ 6,872 $ 6,652 $ 13,523 $ 1,976 $ 15,499
(a)The 9/30//XX dates represent the fiscal year end for the Bonds.
(b)Preliminary Estimate.Assumes a 2% increase per year. The administrative charges will be revised in
Annual Service Plan Updates based on actual costs.
(c)Annual Installments are calculated assuming a 6% interest rate for the first 2 years and a 5% interest rate
for the next 28 years plus Administrative Expenses.
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1920.010\58189.10
Improvement Area #1
50' Lots -Annual Installments per Unit
Year Ending Reimbursement
September 30, Agreement Cash Administrative Annual
(a) Principal Interest Flow Expenses(b) Installment(c)
2019 $ 69 $ 513 $ 582 $ 61 $ 642
2020 $ 72 $ 508 $ 581 $ 62 $ 642
2021 $ 159 $ 420 $ 579 $ 63 $ 642
2022 $ 166 $ 412 $ 578 $ 64 $ 642
2023 $ 173 $ 404 $ 577 $ 66 $ 642
2024 $ 180 $ 395 $ 575 $ 67 $ 642
2025 $ 188 $ 386 $ 574 $ 68 $ 642
2026 $ 196 $ 377 $ 573 $ 70 $ 642
2027 $ 204 $ 367 $ 571 $ 71 $ 642
2028 $ 213 $ 357 $ 570 $ 72 $ 642
2029 $ 222 $ 346 $ 569 $ 74 $ 642
2030 $ 232 $ 335 $ 567 $ 75 $ 642
2031 $ 242 $ 323 $ 566 $ 77 $ 642
2032 $ 253 $ 311 $ 564 $ 78 $ 642
2033 $ 264 $ 299 $ 562 $ 80 $ 642
2034 $ 275 $ 285 $ 561 $ 81 $ 642
2035 $ 288 $ 272 $ 559 $ 83 $ 642
2036 $ 300 $ 257 $ 558 $ 85 $ 642
2037 $ 314 $ 242 $ 556 $ 86 $ 642
2038 $ 327 $ 227 $ 554 $ 88 $ 642
2039 $ 342 $ 210 $ 552 $ 90 $ 642
2040 $ 357 $ 193 $ 551 $ 92 $ 642
2041 $ 373 $ 175 $ 549 $ 94 $ 642
2042 $ 390 $ 157 $ 547 $ 95 $ 642
2043 $ 408 $ 137 $ 545 $ 97 $ 642
2044 $ 426 $ 117 $ 543 $ 99 $ 642
2045 $ 446 $ 95 $ 541 $ 101 $ 642
2046 $ 466 $ 73 $ 539 $ 103 $ 642
2047 $ 487 $ 50 $ 537 $ 105 $ 642
2048 $ 509 $ 25 $ 535 $ 108 $ 642
Totals $ 8,544 $ 8,270 $ 16,814 $ 2,456 $ 19,270
(a)The 9/30// es represent the fiscal year end for the Bonds.
(b) Preliminary Estimate.Assumes a 2%increase per year. The administrative charges will be revised in
Annual Service Plan Updates based on actual costs.
(c)Annual Installments are calculated assuming a 6%interest rate for the first 2 years and a 5%interest rate
for the next 28 years plus Administrative Expenses.
42
1920.010\58189.10
Improvement Area#1
60' Lots -Annual Installments per Unit
Year Ending Reimbursement
September 30, Agreement Cash Administrative Annual
(a) Principal Interest Flow Expenses(b) Installment(c)
2019 $ 85 $ 631 $ 716 $ 75 $ 791
2020 $ 89 $ 626 $ 715 $ 76 $ 791
2021 $ 196 $ 517 $ 713 $ 78 $ 791
2022 $ 204 $ 507 $ 711 $ 79 $ 791
2023 $ 213 $ 497 $ 710 $ 81 $ 791
2024 $ 222 $ 486 $ 708 $ 82 $ 791
2025 $ 231 $ 475 $ 707 $ 84 $ 791
2026 $ 241 $ 464 $ 705 $ 86 $ 791
2027 $ 252 $ 452 $ 703 $ 87 $ 791
2028 $ 262 $ 439 $ 701 $ 89 $ 791
2029 $ 274 $ 426 $ 700 $ 91 $ 791
2030 $ 286 $ 412 $ 698 $ 93 $ 791
2031 $ 298 $ 398 $ 696 $ 95 $ 791
2032 $ 311 $ 383 $ 694 $ 96 $ 791
2033 $ 325 $ 368 $ 692 $ 98 $ 791
2034 $ 339 $ 351 $ 690 $ 100 $ 791
2035 $ 354 $ 334 $ 688 $ 102 $ 791
2036 $ 369 $ 317 $ 686 $ 104 $ 791
2037 $ 386 $ 298 $ 684 $ 106 $ 791
2038 $ 403 $ 279 $ 682 $ 109 $ 791
2039 $ 421 $ 259 $ 680 $ 111 $ 791
2040 $ 440 $ 238 $ 678 $ 113 $ 791
2041 $ 460 $ 216 $ 675 $ 115 $ 791
2042 $ 480 $ 193 $ 673 $ 118 $ 791
2043 $ 502 $ 169 $ 671 $ 120 $ 791
2044 $ 525 $ 144 $ 668 $ 122 $ 791
2045 $ 548 $ 117 $ 666 $ 125 $ 791
2046 $ 573 $ 90 $ 663 $ 127 $ 791
2047 $ 599 $ 61 $ 661 $ 130 $ 791
2048 $ 627 $ 31 $ 658 $ 132 $ 791
Totals $ 10,515 $ 10,178 $ 20,693 $ 3,023 $ 23,716
(a)The 9/301/XX dates represent the fiscal year end for the Bonds.
(b)Prelim inary Estimate.Assumes a 2% increase per year. The administrative charges will be revised in
Annual Service Plan Updates based on actual costs.
(c)Annual Installments are calculated assuming a 6% interest rate for the first 2 years and a 5% interest rate
for the next 28 years plus Administrative Expenses.
43
1920.010\58189.10
Improvement Area#1
70' Lots -Annual Installments per Unit
Year Ending Reimbursement
September 30, Agreement Cash Administrative Annual
(a) 51408.84 381000 Flow Expenses(b) Installment(c)
2019 $ 108 $ 804 $ 913 $ 95 $ 1,008
2020 $ 113 $ 798 $ 911 $ 97 $ 1,008
2021 $ 250 $ 659 $ 909 $ 99 $ 1,008
2022 $ 260 $ 646 $ 907 $ 101 $ 1,008
2023 $ 271 $ 633 $ 905 $ 103 $ 1,008
2024 $ 283 $ 620 $ 903 $ 105 $ 1,008
2025 $ 295 $ 606 $ 901 $ 107 $ 1,008
2026 $ 307 $ 591 $ 898 $ 109 $ 1,008
2027 $ 321 $ 576 $ 896 $ 111 $ 1,008
2028 $ 334 $ 560 $ 894 $ 113 $ 1,008
2029 $ 349 $ 543 $ 892 $ 116 $ 1,008
2030 $ 364 $ 525 $ 889 $ 118 $ 1,008
2031 $ 380 $ 507 $ 887 $ 120 $ 1,008
2032 $ 396 $ 488 $ 885 $ 123 $ 1,008
2033 $ 414 $ 468 $ 882 $ 125 $ 1,008
2034 $ 432 $ 448 $ 880 $ 128 $ 1,008
2035 $ 451 $ 426 $ 877 $ 130 $ 1,008
2036 $ 471 $ 404 $ 875 $ 133 $ 1,008
2037 $ 492 $ 380 $ 872 $ 136 $ 1,008
2038 $ 514 $ 355 $ 869 $ 138 $ 1,008
2039 $ 537 $ 330 $ 866 $ 141 $ 1,008
2040 $ 561 $ 303 $ 864 $ 144 $ 1,008
2041 $ 586 $ 275 $ 861 $ 147 $ 1,008
2042 $ 612 $ 246 $ 858 $ 150 $ 1,008
2043 $ 640 $ 215 $ 855 $ 153 $ 1,008
2044 $ 669 $ 183 $ 852 $ 156 $ 1,008
2045 $ 699 $ 150 $ 849 $ 159 $ 1,008
2046 $ 731 $ 115 $ 845 $ 162 $ 1,008
2047 $ 764 $ 78 $ 842 $ 165 $ 1,008
2048 $ 799 $ 40 $ 839 $ 169 $ 1,008
Totals $ 13,401 $ 12,972 $ 26,373 $ 3,853 $ 30,225
(a)The 9/30//XX dates represent the fiscal year end for the Bond
(b)Preliminary Estimate.Assumes a 2% increase per year. The a ministrative charges Will be revised in
Annual Service Plan Updates based on actual costs. te
(c)Annual Installments are calculated assuming a 6% interest rate for the first 2 years and a 5% interest ra
for the next 28 years plus Administrative Expenses.
44
1920.010\58189.10
Improvement Area#1
Custom Lots -Annual Installments per Unit
Year Ending Reimbursement
September 30, Agreement Cash Administrative Annual
(a) 51408.84 381000 Flow Expenses(b) Installment(c)
2019 $ 180 $ 1,333 $ 1,513 $ 157 $ 1,670
2020 $ 188 $ 1,322 $ 1,510 $ 161 $ 1,670
2021 $ 414 $ 1,093 $ 1,507 $ 164 $ 1,670
2022 $ 431 $ 1,072 $ 1,503 $ 167 $ 1,670
2023 $ 450 $ 1,050 $ 1,500 $ 170 $ 1,670
2024 $ 469 $ 1,028 $ 1,497 $ 174 $ 1,670
2025 $ 489 $ 1,004 $ 1,493 $ 177 $ 1,670
2026 $ 510 $ 980 $ 1,490 $ 181 $ 1,670
2027 $ 532 $ 954 $ 1,486 $ 184 $ 1,670
2028 $ 554 $ 928 $ 1,482 $ 188 $ 1,670
2029 $ 578 $ 900 $ 1,478 $ 192 $ 1,670
2030 $ 603 $ 871 $ 1,475 $ 196 $ 1,670
2031 $ 630 $ 841 $ 1,471 $ 200 $ 1,670
2032 $ 657 $ 810 $ 1,467 $ 204 $ 1,670
2033 $ 686 $ 777 $ 1,463 $ 208 $ 1,670
2034 $ 716 $ 742 $ 1,458 $ 212 $ 1,670
2035 $ 748 $ 707 $ 1,454 $ 216 $ 1,670
2036 $ 781 $ 669 $ 1,450 $ 220 $ 1,670
2037 $ 815 $ 630 $ 1,445 $ 225 $ 1,670
2038 $ 852 $ 589 $ 1,441 $ 229 $ 1,670
2039 $ 890 $ 547 $ 1,436 $ 234 $ 1,670
2040 $ 929 $ 502 $ 1,432 $ 239 $ 1,670
2041 $ 971 $ 456 $ 1,427 $ 243 $ 1,670
2042 $ 1,015 $ 407 $ 1,422 $ 248 $ 1,670
2043 $ 1,061 $ 357 $ 1,417 $ 253 $ 1,670
2044 $ 1,109 $ 304 $ 1,412 $ 258 $ 1,670
2045 $ 1,159 $ 248 $ 1,407 $ 263 $ 1,670
2046 $ 1,211 $ 190 $ 1,402 $ 269 $ 1,670
2047 $ 1,267 $ 130 $ 1,396 $ 274 $ 1,670
2048 $ 1,325 $ 66 $ 1,391 $ 280 $ 1,670
Totals $ 22,218 $ 21,506 $ 43,724 $ 6,387 $ 50,111
(a)The 9/30//XX dates represent the fiscal year end for the Bonds.
(b)Preliminary Estimate.Assumes a 2% increase per year. The administrative charges will be revised in
Annual Service Plan Updates based on actual costs.
(c)Annual Installments are calculated assuming a 6% interest rate for the first 2 years and a 5% interest rate
for the next 28 years plus Administrative Expenses.
45
1920.010\58189.10
Improvement Area#1
IF-Annual Installments -All Lots -Assuming Planned Issuance of PID Bonds
PID Bonds Interest Principal
Prepayment and Payment on Payment on
Year Ending Administrative Delinquency Debt Service Reimbursement Reimbursement Annual
September 30,(a) Principal Interest Net Debt Service Expenses(b) Reserves Reserve Fund Agreement Agreement Installment(c)
2019 $ $ $ $ 45,000 $ $ $ 381,000 $ 51,409 $ 477,409
2020 $ $ $ $ 45,900 $ $ $ 377,915 $ 53,593 $ 477,409
2021 $ 150,000 $ 250,750 $ 400,750 $ 46,818 $ 25,075 $ $ 4,766 $ - $ 477,409
2022 $ 160,000 $ 243,250 $ 403,250 $ 47,754 $ 24,325 $ $ 2,079 $ $ 477,409
2023 $ 165,000 $ 235,250 $ 400,250 $ 48,709 $ 23,525 $ $ 4,924 $ $ 477,409
2024 $ 175,000 $ 227,000 $ 402,000 $ 49,684 $ 22,700 $ $ 3,025 $ $ 477,409
2025 $ 185,000 $ 218,250 $ 403,250 $ 50,677 $ 21,825 $ $ 1,657 $ $ 477,409
2026 $ 195,000 $ 209,000 $ 404,000 $ 51,691 $ 20,900 $ $ 818 $ $ 477,409
2027 $ 205,000 $ 199,250 $ 404,250 $ 52,725 $ 19,925 $ $ 509 $ $ 477,409
2028 $ 215,000 $ 189,000 $ 404,000 $ 53,779 $ 18,900 $ $ 730 $ $ 477,409
2029 $ 225,000 $ 178,250 $ 403,250 $ 54,855 $ 17,825 $ $ 1,479 $ $ 477,409
2030 $ 235,000 $ 167,000 $ 402,000 $ 55,952 $ 16,700 $ $ 2,757 $ $ 477,409
2031 $ 245,000 $ 155,250 $ 400,250 $ 57,071 $ 15,525 $ $ 4,563 $ $ 477,409
2032 $ 260,000 $ 143,000 $ 403,000 $ 58,212 $ 14,300 $ $ 1,897 $ $ 477,409
2033 $ 270,000 $ 130,000 $ 400,000 $ 59,377 $ 13,000 $ $ 5,032 $ $ 477,409
2034 $ 285,000 $ 116,500 $ 401,500 $ 60,564 $ 11,650 $ $ 3,695 $ $ 477,409
2035 $ 300,000 $ 102,250 $ 402,250 $ 61,775 $ 10,225 $ $ 3,158 $ $ 477,409
2036 $ 315,000 $ 87,250 $ 402,250 $ 63,011 $ 8,725 $ $ 3,423 $ $ 477,409
2037 $ 330,000 $ 71,500 $ 401,500 $ 64,271 $ 7,150 $ $ 4,488 $ $ 477,409
2038 $ 350,000 $ 55,000 $ 405,000 $ 65,557 $ 5,500 $ $ 1,352 $ $ 477,409
2039 $ 365,000 $ 37,500 $ 402,500 $ 66,868 $ 3,750 $ $ 4,291 $ $ 477,409
2040 $ 385,000 $ 19,250 $ 404,250 $ 68,205 $ 1,925 $ (405,000) $ 253,008 $ 155,020 $ 477,409
2041 $ - $ - $ - $ 69,569 $ - $ $ 246,432 $ 161,407 $ 477,409
2042 $ $ $ $ 70,960 $ $ $ 238,362 $ 168,086 $ 477,409
2043 $ $ $ $ 72,380 $ $ $ 229,958 $ 175,072 $ 477,409
2044 $ $ $ $ 73,827 $ $ $ 221,204 $ 182,377 $ 477,409
2045 $ $ $ $ 75,304 $ $ $ 171,014 $ 231,091 $ 477,409
2046 $ $ $ $ 76,810 $ $ $ 7,847 $ 156,943 $ 241,600
2047 $ $ $ $ - $ $ $ - $ - $ -
2048 $ $ $ $ $ $ $ $ $
Totals $ 5,015,000 $ 3,034,500 $ 8,049,500 $ 1,667,304 1 $ 303,450 $ 405,000 $ 2,181,384 1 $ 1,335,000 1 $ 13,131,639
a)The 9/301/XX dates represent the fiscal year end for the Bonds.
(b)Preliminary Estimate.Assumes a 2%increase per year.The admif trati charges will be revised i a ervice ah` pdates base ii5 actual costs:
(c)Annual Installments are calculated assuming a 6%interest rate for the first 2 years and a 5%interest rate for the next 28 years plus the Additional Interest plus Administrative
Expenses.
46
1920.010\58189.10
Improvement Area#1
35' Lots -Annual Installments per Unit-Assuming Planned Issuance of PID Bonds
PID Bonds Prepayment and Interest Payment Principal
Administrative Debt Service on Payment on Annual
Year Ending Expenses(b) Delinquency Reserve Fund Reimbursement Reimbursement Installment(c)
September 30,(a) Principal Interest Net Debt Service Reserves Agreement Agreement
2019 $ $ $ $ 49 $ $ $ 412 $ 56 $ 517
2020 $ $ $ $ 50 $ $ $ 409 $ 58 $ 517
2021 $ 162 $ 271 $ 434 $ 51 $ 27 $ $ 5 $ $ 517
2022 $ 173 $ 263 $ 436 $ 52 $ 26 $ $ 2 $ $ 517
2023 $ 179 $ 255 $ 433 $ 53 $ 25 $ $ 5 $ $ 517
2024 $ 189 $ 246 $ 435 $ 54 $ 25 $ $ 3 $ $ 517
2025 $ 200 $ 236 $ 436 $ 55 $ 24 $ $ 2 $ $ 517
2026 $ 211 $ 226 $ 437 $ 56 $ 23 $ $ 1 $ $ 517
2027 $ 222 $ 216 $ 437 $ 57 $ 22 $ $ 1 $ $ 517
2028 $ 233 $ 205 $ 437 $ 58 $ 20 $ $ 1 $ $ 517
2029 $ 243 $ 193 $ 436 $ 59 $ 19 $ $ 2 $ $ 517
2030 $ 254 $ 181 $ 435 $ 61 $ 18 $ $ 3 $ $ 517
2031 $ 265 $ 168 $ 433 $ 62 $ 17 $ $ 5 $ $ 517
2032 $ 281 $ 155 $ 436 $ 63 $ 15 $ $ 2 $ $ 517
2033 $ 292 $ 141 $ 433 $ 64 $ 14 $ $ 5 $ $ 517
2034 $ 308 $ 126 $ 434 $ 66 $ 13 $ $ 4 $ $ 517
2035 $ 325 $ 111 $ 435 $ 67 $ 11 $ $ 3 $ $ 517
2036 $ 341 $ 94 $ 435 $ 68 $ 9 $ $ 4 $ $ 517
2037 $ 357 $ 77 $ 434 $ 70 $ 8 $ $ 5 $ $ 517
2038 $ 379 $ 60 $ 438 $ 71 $ 6 $ $ 1 $ $ 517
2039 $ 395 $ 41 $ 436 $ 72 $ 4 $ $ 5 $ $ 517
2040 $ 417 $ 21 $ 437 $ 74 $ 2 $ (438) $ 274 $ 168 $ 517
2041 $ - $ $ - $ 75 $ $ - $ 267 $ 175 $ 517
2042 $ $ $ $ 77 $ $ $ 258 $ 182 $ 517
2043 $ $ $ $ 78 $ $ $ 249 $ 189 $ 517
2044 $ $ $ $ 80 $ $ $ 239 $ 197 $ 517
2045 $ $ $ $ 81 $ $ $ 185 $ 250 $ 517
2046 $ $ $ $ 83 $ $ $ 8 $ 170 $ 261
2047 $ $ $ $ $ $ $ - $ - $ -
2048 $ - $ $ - $ $ $ $ - $ - $ -
Totals $ 5,427 $ 3,284 $ 8,711 $ 1,804 $ 328 $ (438) $ 2,361 $ 1,445 $ 14,211
(a)The 9/30/IXX dates represent the fiscal year end for the Bonds.
(b)Preliminary Estimate.Assumes a 2%increase per year.The administrative charges will be revised in Annual Service Plan Updates based on actual costs.
MMMEW
(c)Annual Installments are calculated assuming a 6%interest rate for the first 2 years and a 5%interest rate for the next 28 years plus the Additional Interest plus Administrative
Expenses.
47
1920.010\58189.10
Improvement Area#1
50' Lots -Annual Installments per Unit-Assuming Planned Issuance of PID Bonds
PID Bonds Interest Payment Principal
Prepayment and on Payment on
Year Ending Administrative Delinquency Debt Service Reimbursement Reimbursement Annual
September 30,(a) Principal Interest Net Debt Service Expenses(b) Reserves Reserve Fund Agreement Agreement Installment(c)
2019 $ $ $ $ 61 $ $ $ 513 $ 69 $ 642
2020 $ $ $ $ 62 $ $ $ 508 $ 72 $ 642
2021 $ 202 $ 337 $ 539 $ 63 $ 34 $ $ 6 $ $ 642
2022 $ 215 $ 327 $ 543 $ 64 $ 33 $ $ 3 $ $ 642
2023 $ 222 $ 317 $ 539 $ 66 $ 32 $ $ 7 $ $ 642
2024 $ 235 $ 305 $ 541 $ 67 $ 31 $ $ 4 $ $ 642
2025 $ 249 $ 294 $ 543 $ 68 $ 29 $ $ 2 $ $ 642
2026 $ 262 $ 281 $ 544 $ 70 $ 28 $ $ 1 $ $ 642
2027 $ 276 $ 268 $ 544 $ 71 $ 27 $ $ 1 $ $ 642
2028 $ 289 $ 254 $ 544 $ 72 $ 25 $ $ 1 $ $ 642
2029 $ 303 $ 240 $ 543 $ 74 $ 24 $ $ 2 $ $ 642
2030 $ 316 $ 225 $ 541 $ 75 $ 22 $ $ 4 $ $ 642
2031 $ 330 $ 209 $ 539 $ 77 $ 21 $ $ 6 $ $ 642
2032 $ 350 $ 192 $ 542 $ 78 $ 19 $ $ 3 $ $ 642
2033 $ 363 $ 175 $ 538 $ 80 $ 17 $ $ 7 $ $ 642
2034 $ 383 $ 157 $ 540 $ 81 $ 16 $ $ 5 $ $ 642
2035 $ 404 $ 138 $ 541 $ 83 $ 14 $ $ 4 $ $ 642
2036 $ 424 $ 117 $ 541 $ 85 $ 12 $ $ 5 $ $ 642
2037 $ 444 $ 96 $ 540 $ 86 $ 10 $ $ 6 $ $ 642
2038 $ 471 $ 74 $ 545 $ 88 $ 7 $ $ 2 $ $ 642
2039 $ 491 $ 50 $ 542 $ 90 $ 5 $ $ 6 $ $ 642
2040 $ 518 $ 26 $ 544 $ 92 $ 3 $ (545) $ 340 $ 209 $ 642
2041 $ - $ $ - $ 94 $ $ - $ 332 $ 217 $ 642
2042 $ $ $ $ 95 $ $ $ 321 $ 226 $ 642
2043 $ $ $ $ 97 $ $ $ 309 $ 236 $ 642
2044 $ $ $ $ 99 $ $ $ 298 $ 245 $ 642
2045 $ $ $ $ 101 $ $ $ 230 $ 311 $ 642
2046 $ $ $ $ 103 $ $ $ 11 $ 211 $ 325
2047 $ $ $ $ - $ $ $ - $ - $ -
2048 $ - $ $ - $ - $ $ $ - $ - $ -
Totals $ 6,747 $ 4,083 $ 10,830 $ 2,243 $ 408 $ 545 $ 2,935 $ 1,796 $ 17,668
(a)The 9/301/XX dates represent the fiscal year end for the Bonds.
(b)Preliminary Estimate.Assumes a 2%increase per year.The administrative charges will b4 revised in Annual` ervice Plan updates based on actual costs.
(c)Annual Installments are calculated assuming a 6%interest rate for the first 2 years and a 5%interest rate for the next 28 years plus the Additional Interest plus Administrative
Expenses.
48
1920.010\58189.10
Improvement Area#1
60' Lots -Annual Installments per Unit-Assuming Planned Issuance of PID Bonds
PID Bonds Interest Payment Principal
Prepayment and on Payment on
Year Ending Administrative Delinquency Debt Service Reimbursement Reimbursement Annual
September 30,(a) Principal Interest Net Debt Service Expenses(b) Reserves Reserve Fund Agreement Agreement Installment(c)
2019 $ $ $ $ 75 $ $ $ 631 $ 85 $ 791
2020 $ $ $ $ 76 $ $ $ 626 $ 89 $ 791
2021 $ 248 $ 415 $ 664 $ 78 $ 42 $ $ 8 $ $ 791
2022 $ 265 $ 403 $ 668 $ 79 $ 40 $ $ 3 $ $ 791
2023 $ 273 $ 390 $ 663 $ 81 $ 39 $ $ 8 $ $ 791
2024 $ 290 $ 376 $ 666 $ 82 $ 38 $ $ 5 $ $ 791
2025 $ 306 $ 361 $ 668 $ 84 $ 36 $ $ 3 $ $ 791
2026 $ 323 $ 346 $ 669 $ 86 $ 35 $ $ 1 $ $ 791
2027 $ 339 $ 330 $ 669 $ 87 $ 33 $ $ 1 $ $ 791
2028 $ 356 $ 313 $ 669 $ 89 $ 31 $ $ 1 $ $ 791
2029 $ 373 $ 295 $ 668 $ 91 $ 30 $ $ 2 $ $ 791
2030 $ 389 $ 277 $ 666 $ 93 $ 28 $ $ 5 $ $ 791
2031 $ 406 $ 257 $ 663 $ 95 $ 26 $ $ 8 $ $ 791
2032 $ 431 $ 237 $ 667 $ 96 $ 24 $ $ 3 $ $ 791
2033 $ 447 $ 215 $ 662 $ 98 $ 22 $ $ 8 $ $ 791
2034 $ 472 $ 193 $ 665 $ 100 $ 19 $ $ 6 $ $ 791
2035 $ 497 $ 169 $ 666 $ 102 $ 17 $ $ 5 $ $ 791
2036 $ 522 $ 144 $ 666 $ 104 $ 14 $ $ 6 $ $ 791
2037 $ 546 $ 118 $ 665 $ 106 $ 12 $ $ 7 $ $ 791
2038 $ 580 $ 91 $ 671 $ 109 $ 9 $ $ 2 $ $ 791
2039 $ 604 $ 62 $ 666 $ 111 $ 6 $ $ 7 $ $ 791
2040 $ 638 $ 32 $ 669 $ 113 $ 3 $ (671) $ 419 $ 257 $ 791
2041 $ - $ $ - $ 115 $ $ - $ 408 $ 267 $ 791
2042 $ $ $ $ 118 $ $ $ 395 $ 278 $ 791
2043 $ $ $ $ 120 $ $ $ 381 $ 290 $ 791
2044 $ $ $ $ 122 $ $ $ 366 $ 302 $ 791
2045 $ $ $ $ 125 $ $ $ 283 $ 383 $ 791
2046 $ $ $ $ 127 $ $ $ 13 $ 260 $ 400
2047 $ $ $ $ - $ $ $ - $ - $ -
2048 $ - $ $ - $ - $ $ $ - $ - $ -
Totals $ 8,304 $ 5,025 $ 13,329 $ 2,761 $ 502 $ 671 $ 3,612 $ 2,211 $ 21,744
(a)The 9/301/XX dates represent the fiscal year end for the Bonds.
(b)Preliminary Estimate.Assumes a 2%increase per year.The administrative charges wil! revised in Annual` ervice Plan updates based on actual costs.
(c)Annual Installments are calculated assuming a 6%interest rate for the first 2 years and a 5%interest rate for the next 28 years plus the Additional Interest plus Administrative
Expenses.
49
1920.010\58189.10
Improvement Area#1
70' Lots -Annual Installments per Unit-Assuming Planned Issuance of PID Bonds
PID Bonds Interest Payment Principal
Prepayment and on Payment on
Year Ending Administrative Delinquency Debt Service Reimbursement Reimbursement Annual
September 30,(a) Principal Interest Net Debt Service Expenses(b) Reserves Reserve Fund Agreement Agreement Installment(c)
2019 $ $ $ $ 95 $ $ $ 804 $ 108 $ 1,008
2020 $ $ $ $ 97 $ $ $ 798 $ 113 $ 1,008
2021 $ 317 $ 529 $ 846 $ 99 $ 53 $ $ 10 $ - $ 1,008
2022 $ 338 $ 513 $ 851 $ 101 $ 51 $ $ 4 $ $ 1,008
2023 $ 348 $ 496 $ 845 $ 103 $ 50 $ $ 10 $ $ 1,008
2024 $ 369 $ 479 $ 848 $ 105 $ 48 $ $ 6 $ $ 1,008
2025 $ 390 $ 461 $ 851 $ 107 $ 46 $ $ 3 $ $ 1,008
2026 $ 412 $ 441 $ 853 $ 109 $ 44 $ $ 2 $ $ 1,008
2027 $ 433 $ 420 $ 853 $ 111 $ 42 $ $ 1 $ $ 1,008
2028 $ 454 $ 399 $ 853 $ 113 $ 40 $ $ 2 $ $ 1,008
2029 $ 475 $ 376 $ 851 $ 116 $ 38 $ $ 3 $ $ 1,008
2030 $ 496 $ 352 $ 848 $ 118 $ 35 $ $ 6 $ $ 1,008
2031 $ 517 $ 328 $ 845 $ 120 $ 33 $ $ 10 $ $ 1,008
2032 $ 549 $ 302 $ 850 $ 123 $ 30 $ $ 4 $ $ 1,008
2033 $ 570 $ 274 $ 844 $ 125 $ 27 $ $ 11 $ $ 1,008
2034 $ 601 $ 246 $ 847 $ 128 $ 25 $ $ 8 $ $ 1,008
2035 $ 633 $ 216 $ 849 $ 130 $ 22 $ $ 7 $ $ 1,008
2036 $ 665 $ 184 $ 849 $ 133 $ 18 $ $ 7 $ $ 1,008
2037 $ 696 $ 151 $ 847 $ 136 $ 15 $ $ 9 $ $ 1,008
2038 $ 739 $ 116 $ 855 $ 138 $ 12 $ $ 3 $ $ 1,008
2039 $ 770 $ 79 $ 849 $ 141 $ 8 $ $ 9 $ $ 1,008
2040 $ 812 $ 41 $ 853 $ 144 $ 4 $ (855) $ 534 $ 327 $ 1,008
2041 $ - $ - $ - $ 147 $ $ - $ 520 $ 341 $ 1,008
2042 $ $ $ $ 150 $ $ $ 503 $ 355 $ 1,008
2043 $ $ $ $ 153 $ $ $ 485 $ 369 $ 1,008
2044 $ $ $ $ 156 $ $ $ 467 $ 385 $ 1,008
2045 $ $ $ $ 159 $ $ $ 361 $ 488 $ 1,008
2046 $ $ $ $ 162 $ $ $ 17 $ 331 $ 510
2047 $ $ $ $ - $ $ $ - $ - $ -
2048 $ $ $ $ - $ $ $ - $ - $ -
Totals $ 10,584 $ 6,404 $ 16,988 $ 3,519 $ 640 $ 855 $ 4,604 $ 2,817 $ 27,713
(a)The 9/301/XX dates represent the fiscal year end for the Bonds.
(b)Preliminary Estimate.Assumes a 2%increase per year.The administrative charges wil a revised in Annua ervice Plan pdates based on actual costs.
(c)Annual Installments are calculated assuming a 6%interest rate for the first 2 years and a 5%interest rate for the next 28 years plus the Additional Interest plus Administrative
Expenses.
50
1920.010\58189.10
Improvement Area#1
Custom Lots -Annual Installments per Unit-Assuming Planned Issuance of PID Bonds
PID Bonds Interest Payment Principal
Prepayment and on Payment on
Year Ending Administrative Delinquency Debt Service Reimbursement Reimbursement Annual
September 30,(a) Principal Interest Net Debt Service Expenses(b) Reserves Reserve Fund Agreement Agreement Installment(c)
2019 $ $ $ $ 157 $ $ $ 1,333 $ 180 $ 1,670
2020 $ $ $ $ 161 $ $ $ 1,322 $ 188 $ 1,670
2021 $ 525 $ 877 $ 1,402 $ 164 $ 88 $ $ 17 $ - $ 1,670
2022 $ 560 $ 851 $ 1,411 $ 167 $ 85 $ $ 7 $ $ 1,670
2023 $ 577 $ 823 $ 1,400 $ 170 $ 82 $ $ 17 $ $ 1,670
2024 $ 612 $ 794 $ 1,407 $ 174 $ 79 $ $ 11 $ $ 1,670
2025 $ 647 $ 764 $ 1,411 $ 177 $ 76 $ $ 6 $ $ 1,670
2026 $ 682 $ 731 $ 1,414 $ 181 $ 73 $ $ 3 $ $ 1,670
2027 $ 717 $ 697 $ 1,414 $ 184 $ 70 $ $ 2 $ $ 1,670
2028 $ 752 $ 661 $ 1,414 $ 188 $ 66 $ $ 3 $ $ 1,670
2029 $ 787 $ 624 $ 1,411 $ 192 $ 62 $ $ 5 $ $ 1,670
2030 $ 822 $ 584 $ 1,407 $ 196 $ 58 $ $ 10 $ $ 1,670
2031 $ 857 $ 543 $ 1,400 $ 200 $ 54 $ $ 16 $ $ 1,670
2032 $ 910 $ 500 $ 1,410 $ 204 $ 50 $ $ 7 $ $ 1,670
2033 $ 945 $ 455 $ 1,400 $ 208 $ 45 $ $ 18 $ $ 1,670
2034 $ 997 $ 408 $ 1,405 $ 212 $ 41 $ $ 13 $ $ 1,670
2035 $ 1,050 $ 358 $ 1,407 $ 216 $ 36 $ $ 11 $ $ 1,670
2036 $ 1,102 $ 305 $ 1,407 $ 220 $ 31 $ $ 12 $ $ 1,670
2037 $ 1,155 $ 250 $ 1,405 $ 225 $ 25 $ $ 16 $ $ 1,670
2038 $ 1,225 $ 192 $ 1,417 $ 229 $ 19 $ $ 5 $ $ 1,670
2039 $ 1,277 $ 131 $ 1,408 $ 234 $ 13 $ $ 15 $ $ 1,670
2040 $ 1,347 $ 67 $ 1,414 $ 239 $ 7 $ (1,417) $ 885 $ 542 $ 1,670
2041 $ - $ - $ - $ 243 $ $ $ 862 $ 565 $ 1,670
2042 $ $ $ $ 248 $ $ $ 834 $ 588 $ 1,670
2043 $ $ $ $ 253 $ $ $ 805 $ 613 $ 1,670
2044 $ $ $ $ 258 $ $ $ 774 $ 638 $ 1,670
2045 $ $ $ $ 263 $ $ $ 598 $ 809 $ 1,670
2046 $ $ $ $ 269 $ $ $ 27 $ 549 $ 845
2047 $ $ $ $ - $ $ $ - $ - $ -
2048 $ $ $ $ - $ $ $ - $ - $ -
Totals $ 17,547 $ 10,617 $ 28,164 $ 5,834 $ 1,062 $ 1,417 $ 7,632 $ 4,671 $ 45,945
(a)The 9/301/XX dates represent the fiscal year end for the Bonds.
(b)Preliminary Estimate.Assumes a 2%increase per year.The administrative charges will b' revised in Anuual`Service Plan Updates based on actual costs.
(c)Annual Installments are calculated assuming a 6%interest rate for the first 2 years and a 5%interest rate for the next 28 years plus the Additional Interest plus Administrative
Expenses.
51
1920.010\58189.10
Improvement Area#1 Improvement Area#1
Address Directory Address Directory im
Block Lot Size Block Lot Size Block Lot Size Block Lot Size Block Lot Size Block Lot Size
A 2 35 1R 3 50 A 18 50 AC 10 50 AH 13 50 C 6 50
A 3 35 1R 4 50 A 26 50 AC 11 50 AH 14 50 C 7 50
A 4 35 1R 5 50 A 27 50 AD 1 50 AH 18 50 C 8 50
A 5 35 1R 6 50 A 28 50 AD 2 50 AH 19 50 C 9 50
A 6 35 1R 7 50 A 29 50 AD 3 50 AH 20 50 C 10 50
A 7 35 1R 8 50 A 30 50 AD 4 50 AH 21 50 C 11 50
F 9 35 1R 9 50 A 31 50 AD 5 50 AH 22 50 C 12 50
F 10 35 1R 10 50 A 32 50 AD 6 50 AH 23 50 C 13 50
F 11 35 1R 11 50 A 33 50 AD 7 50 AH 24 50 C 14 50
F 12 35 1R 12 50 AA 2 50 AD 8 50 B 1 50 C 15 50
F 13 35 1R 13 50 AA 3 50 AF 1 50 B 2 50 C 16 50
F 14 35 5R 2 50 AA 5 50 AF 2 50 B 3 50 E 1 50
L 5 35 5R 3 50 AA 6 50 AF 3 50 B 4 50 E 2 50
L 6 35 5R 4 50 AA 7 50 AF 4 50 B 5 50 E 3 50
L 7 35 5R 5 50 AA 8 50 AF 5 50 B 6 50 E 4 50
L 8 35 5R 6 50 AB 1 50 AF 6 50 B 7 50 F 1 50
L 9 35 5R 7 50 AB 2 50 AF 8 50 B 8 50 F 2 50
L 10 35 5R 8 50 AB 3 50 AG 1 50 B 9 50 F 5 50
L 11 35 5R 9 50 AB 4 50 AG 2 50 B 10 50 F 6 50
L 12 35 A 1 50 AB 5 50 AG 3 50 B 11 50 F 7 50
L 13 35 A 8 50 AB 10 50 AG 5 50 B 12 50 F 8 50
L 14 35 A 9 50 AB 11 50 AG 6 50 B 13 50 G 8 50
L 16 35 A 10 50 AB 12 50 AG 7 50 B 14 50 G 9 50
L 17 35 A 11 50 AB 16 50 AG 8 50 B 15 50 G 10 50
L 18 35 A 12 50 AC 1 50 AG 9 50 B 16 50 G 11 50
L 19 35 A 13 50 AC 2 50 AH 6 50 C 1 50 G 12 50
L 20 35 A 14 50 AC 3 50 AH 7 50 C 2 50 G 13 50
L 21 35 A 15 50 AC 7 50 AH 8 50 C 3 50 G 14 50
1R 1 50 A 16 50 AC 8 50 AH 9 50 C 4 50 G 16 50
IR 2 50 A 17 50 AC 9 50 AH 12 50 C 5 50 G 17 50
Note: Block and Lot identifications for an individual Lot refer to either a Preliminary Plat submitted to Note: Block and Lot identifications for an individual Lot refer to either a Preliminary Plat submitted to
the City or a Final Plat recorded with the County by the Developer for Improvement Area#1. Lots the City or a Final Plat recorded with the County by the Developer for Improvement Area#1. Lots
located in Blocks 1R,5R and 7R are currently shown an Blocks S-10S,H50S,and V-70S on the located in Blocks 1R 5R and 7R are currently shown an Blocks S-10S,H50S,and V-70S on the
Preliminary Plat for Walsh Ranch/Quail Valley Parcel 1C as submitted to the City of Fort Worth. It is Preliminary Plat for Walsh Ranch/Quail Valley Parcel 1C as submitted to the City of Fort Worth. It is
expected that the Lots located in Blocks 1R,5R and 7R will be created as single family residential lots expected that the Lots located in Blocks 1R,5R and 7R will be created as single family residential lots
by replat upon the recording of the Final Plat for Parcel 1C as described herein. by replat upon the recording of the Final Plat for Parcel 1C as described herein.
52
1920.010\58189.10
Improvement Area#1 Improvement Area#1
Address Directory Address Directory AM
Block Lot Size Block Lot Size Block Lot Size Block Lot Size Block Lot Size Block Lot Size
G 18 50 R 9 50 Y 11 50 A 22 60 AH 26 60 G 2 60
G 19 50 R 10 50 Y 12 50 A 23 60 AH 28 60 G 3 60
H 34 50 R 11 50 Y 13 50 A 24 60 AH 29 60 G 4 60
H 35 50 R 12 50 Y 14 50 A 25 60 AH 30 60 G 5 60
H 36 50 R 13 50 Y 15 50 AA 1 60 AH 31 60 G 6 60
H 37 50 R 14 50 Y 16 50 AA 4 60 AH 32 60 G 7 60
H 38 50 R 20 50 Y 17 50 AB 13 60 AH 33 60 G 20 60
H 39 50 R 21 50 Y 18 50 AB 14 60 AJ 1 60 H 1 60
H 40 50 R 22 50 Y 19 50 AB 6 60 AJ 2 60 H 2 60
J 16 50 R 23 50 Y 20 50 AB 7 60 AJ 3 60 H 3 60
J 17 50 R 24 50 Y 21 50 AB 8 60 AJ 4 60 H 4 60
J 18 50 R 25 50 Y 22 50 AB 9 60 AJ 5 60 H 6 60
J 19 50 U 8 50 Z 1 50 AB 15 60 AJ 6 60 H 7 60
M 9 50 U 9 50 Z 2 50 AC 4 60 AJ 22 60 H 16 60
M 10 50 U 10 50 Z 3 50 AC 5 60 AJ 23 60 H 17 60
P 1 50 U 11 50 Z 4 50 AC 6 60 AJ 24 60 H 18 60
P 2 50 U 12 50 Z 5 50 AC 12 60 D 1 60 H 19 60
P 3 50 X 2 50 Z 6 50 AC 13 60 D 2 60 H 20 60
P 4 50 X 3 50 Z 7 50 AF 7 60 D 3 60 H 21 60
P 5 50 X 5 50 Z 8 50 AG 10 60 D 4 60 H 22 60
P 8 50 X 6 50 Z 9 50 AH 15 60 D 5 60 H 23 60
P 9 50 X 7 50 Z 11 50 AH 17 60 D 6 60 H 24 60
P 10 50 X 8 50 Z 12 50 AH 1 60 D 7 60 H 25 60
P 11 50 Y 1 50 Z 13 50 AH 2 60 D 8 60 H 26 60
P 12 50 Y 2 50 Z 14 50 AH 3 60 D 9 60 H 27 60
R 2 50 Y 5 50 Z 15 50 AH 4 60 D 10 60 H 28 60
R 4 50 Y 6 50 Z 16 50 AH 5 60 E 6 60 H 29 60
R 5 50 Y 7 50 5R 1 60 AH 10 60 E 7 60 H 30 60
R 6 50 Y 9 50 A 20 60 AH 11 60 E 5 60 H 31 60
R 7 50 Y 10 50 A 21 60 AH 25 60 G 1 60 H 32 60
Note: Block and Lot identifications for an individual Lot refer to either a Preliminary Plat submitted to Note: Block and Lot identifications for an individual Lot refer to either a Preliminary Plat submitted to
the City or a Final Plat recorded with the County by the Developer for Improvement Area#1. Lots the City or a Final Plat recorded with the County by the Developer for Improvement Area#1. Lots
located in Blocks 1R,5R and 7R are currently shown an Blocks S-10S,H50S,and V-70S on the located in Blocks 1R 5R and 7R are currently shown an Blocks S-10S,H50S,and V-70S on the
Preliminary Plat for Walsh Ranch/Quail Valley Parcel 1C as submitted to the City of Fort Worth. It is Preliminary Plat for Walsh Ranch/Quail Valley Parcel 1C as submitted to the City of Fort Worth. It is
expected that the Lots located in Blocks 1R,5R and 7R will be created as single family residential lots expected that the Lots located in Blocks 1R,5R and 7R will be created as single family residential lots
by replat upon the recording of the Final Plat for Parcel 1C as described herein. by replat upon the recording of the Final Plat for Parcel 1C as described herein.
53
1920.010\58189.10
Improvement Area#1 Improvement Area#1
Address Directory Address Directory
Block Lot Size Block Lot Size Block Lot Size Block Lot Size Block Lot Size Block Lot Size
H 33 60 L 30 60 U 3 60 1R 15 70 H 13 70 S 14 70
J 1 60 L 31 60 U 5 60 7R 1 70 H 14 70 S 15 70
J 2 60 L 32 60 U 6 60 AG 11 70 H 15 70 S 16 70
J 3 60 L 33 60 U 7 60 AG 12 70 J 5 70 S 17 70
J 4 60 L 34 60 U 13 60 AH 27 70 J 6 70 S 18 70
J 8 60 M 5 60 U 14 60 AJ 7 70 J 22 70 S 19 70
J 9 60 M 6 60 U 15 60 AJ 9 70 J 23 70 S 20 70
J 10 60 M 2 60 U 16 60 AJ 10 70 K 2 70 S 21 70
J 11 60 M 3 60 U 17 60 AJ 11 70 K 3 70 S 22 70
J 12 60 M 4 60 U 18 60 AJ 12 70 K 4 70 S 23 70
J 13 60 M 8 60 U 19 60 AJ 13 70 K 6 70 S 24 70
J 15 60 P 6 60 U 20 60 AJ 14 70 K 7 70 S 25 70
J 20 60 P 13 60 V 4 60 AJ 15 70 K 8 70 V 1 70
J 21 60 P 14 60 V 5 60 AJ 16 70 K 9 70 V 2 70
K 1 60 P 15 60 V 6 60 AJ 17 70 K 10 70 V 3 70
K 11 60 P 7 60 V 20 60 AJ 18 70 M 1 70 V 8 70
K 12 60 Q 1 60 V 21 60 AJ 19 70 Q 4 70 V 9 70
K 13 60 Q 2 60 V 22 60 AJ 20 70 Q 5 70 V 10 70
K 14 60 Q 3 60 X 1 60 AJ 21 70 S 3 70 V 11 70
L 1 60 R 1 60 X 4 60 AJ 25 70 S 4 70 V 12 70
L 2 60 R 3 60 X 9 60 AJ 26 70 S 5 70 V 13 70
L 3 60 R 15 60 X 10 60 AJ 27 70 S 6 70 V 14 70
L 4 60 R 16 60 X 11 60 AJ 28 70 S 7 70 V 15 70
L 23 60 R 17 60 Y 3 60 F 3 70 S 8 70 V 16 70
L 24 60 R 18 60 Y 4 60 F 4 70 S 9 70 V 17 70
L 25 60 R 19 60 Y 23 60 H 8 70 S 2 70 V 18 70
L 26 60 R 26 60 Z 10 60 H 9 70 S 10 70 V 19 70
L 27 60 R 27 60 Z 17 60 H 10 70 S 11 70 W 1 70
L 28 60 U 1 60 Z 18 60 H 11 70 S 12 70 W 2 70
L 29 60 U 2 60 1R 14 70 H 12 70 S 13 70 W 3 70
Note: Block and Lot identifications for an individual Lot refer to either a Preliminary Plat submitted to Note: Block and Lot identifications for an individual Lot refer to either a Preliminary Plat submitted to
the City or a Final Plat recorded with the County by the Developer for Improvement Area#1. Lots the City or a Final Plat recorded with the County by the Developer for Improvement Area#1. Lots
located in Blocks 1R,5R and 7R are currently shown an Blocks S-10S,H50S,and V-70S on the located in Blocks 1R 5R and 7R are currently shown an Blocks S-10S,H50S,and V-70S on the
Preliminary Plat for Walsh Ranch/Quail Valley Parcel 1C as submitted to the City of Fort Worth. It is Preliminary Plat for Walsh Ranch/Quail Valley Parcel 1C as submitted to the City of Fort Worth. It is
expected that the Lots located in Blocks 1R,5R and 7R will be created as single family residential lots expected that the Lots located in Blocks 1R,5R and 7R will be created as single family residential lots
by replat upon the recording of the Final Plat for Parcel 1C as described herein. by replat upon the recording of the Final Plat for Parcel 1C as described herein.
54
1920.010\58189.10
Improvement Area#1
Address Directory
Block Lot Size Block Lot Size
W 4 70 F 1 Custom
W 6 70 F 2 Custom
W 7 70 F 3 Custom
W 8 70 G 1 Custom
W 5 70 G 2 Custom
X 12 70 G 3 Custom
X 13 70 G 4 Custom
A 1 Custom G 5 Custom
A 2 Custom G 6 Custom
A 3 Custom G 7 Custom
A 4 Custom G 8 Custom
A 5 Custom H 1 Custom
A 6 Custom J 1 Custom
A 7 Custom J 2 Custom
A 8 Custom J 3 Custom
A 9 Custom K 1 Custom
A 10 Custom K 2 Custom
A 11 Custom
A 12 Custom
A 13 Custom
C 1 Custom
C 2 Custom
C 3 Custom
C 4 Custom
C 5 Custom
C 6 Custom
C 7 Custom
C 8 Custom
C 9 Custom
E 1 Custom
Note: Block and Lot identifications for an individual Lot refer to either a Preliminary Plat submitted to
the City or a Final Plat recorded with the County by the Developer for Improvement Area#1. Lots
located in Blocks 1R,5R and 7R are currently shown an Blocks S-10S,H50S,and V-70S on the
Preliminary Plat for Walsh Ranch/Quail Valley Parcel 1C as submitted to the City of Fort Worth. It is
expected that the Lots located in Blocks 1R,5R and 7R will be created as single family residential lots
by replat upon the recording of the Final Plat for Parcel 1C as described herein.
55
1920.010\58189.10
Appendix B
TRACT 1 (Quail Valley)
Being a 1,211.51 acre tract of land situated in the Houston Tap & Brazoria RR Co Survey,
Abstract Number 654,the Houston Tap & Brazoria RR Co Survey, Abstract Number 647,the
International & Great Northern RR Co Survey, Abstract Number 1995, the International &
Great Northern RR Co Survey,Abstract Number 1996,the International&Great Northern RR
Co Survey,Abstract Number 2004, G.Tandy Survey,Abstract Number 2356, the Heirs of C.H.
Higbee Survey, Abstract Number 2740 and the M.0 Moulton Survey, Abstract Number 934,
Parker County, being part of a tract of land described in deed to Walsh Ranches Limited
Partnership, as recorded in Volume 1699, Page 1765, Deed Records, Parker County, Texas
(D.R.P.C.T), as previously described in deed recorded in Volume 237, Page 562, D.R.P.C.T.,
said 1,211.51 acre tract of land being more particularly described as follows:
COMMENCING at an aluminum TXDOT disc found for corner on the east right-of-way line of
F.M. 3325 (variable width),said corner being on the north line of said Walsh Ranches Limited
Partnership tract;
THENCE North 89 degrees 18 minutes 10 seconds East, along said Walsh Ranches Limited
Partnership tract, a distance of 5178.11 feet to a 5/8 inch iron rod with a yellow plastic cap
stamped "DUNAWAY ASSOC. LP" set for corner for the POINT OF BEGINNING;
THENCE North 89 degrees 18 minutes 10 seconds East, along said Walsh Ranches Limited
Partnership tract, a distance of 49.67 feet to a 5/8 inch iron rod with yellow cap stamped
"DUNAWAY ASSOC. LP" found for an ell corner of said Walsh Ranches Limited Partnership
tract
THENCE North 00 degrees 33 minutes 20 seconds West, along said Walsh Ranches Limited
Partnership tract, a distance of 2015.32 feet to a 5/8 inch iron rod with a yellow plastic cap
stamped"DUNAWAY ASSOC. LP" set for corner near the south side of Old Weatherford Road
(undedicated);
THENCE South 82 degrees 28 minutes 09 seconds East, along a fence, a distance of 120.54
feet to a railroad spike set for corner;
THENCE North 88 degrees 23 minutes 39 seconds East, along said fence, a distance of
2130.14 feet to a 5/8 inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC.
LP" set for corner;
THENCE North 89 degrees 27 minutes 38 seconds East,along said fence,a distance of 477.65
feet to a 5/8 inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for
corner;
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1920.010\58189.10
THENCE South 03 degrees 41 minutes 11 seconds East, departing said fence, a distance of
394.47 feet to a S/8 inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP"
set for corner;
THENCE North 89 degrees 37 minutes 10 seconds East, a distance of 651.88 feet to a S/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP"set for corner;
THENCE North 00 degrees 22 minutes SO seconds West, a distance of 594.83 feet to a S/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner near
a wire fence and the south side of Old Weatherford Road;
THENCE South 8S degrees 44 minutes 3S seconds East,along said fence,a distance of 286.37
feet to a S/8 inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for
corner, said corner being on a circular curve to the left having a radius of 960.00 feet, a
central angle of 22 degrees 24 minutes 34 seconds, and a chord bearing of South 76 degrees
OS minutes 43 seconds East, a distance of 343.09 feet;
THENCE South 87 degrees 18 minutes 00 seconds East, a distance of 620.89 feet to a S/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner;
THENCE South 02 degrees 42 minutes 00 seconds West,a distance of 53.00 feet to a S/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner;
THENCE South 87 degrees 18 minutes 00 seconds East, a distance of 146.19 feet to a S/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
curvature of a curve to the right having a radius of 1023.50 feet,a central angle of 31 degrees
17 minutes 49 seconds,and a chord bearing of South 71 degrees 39 minutes OS seconds East,
a distance of SS2.1S feet;
THENCE with said curve to the right an arc distance of SS9.07 feet to a S/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the left having a radius of 1076.50, a central angle of S1 degrees 4S minutes S2
seconds, and a chord bearing of South 81 degrees S3 minutes 07 seconds East, a distance of
939.83 feet;
THENCE with said curve to the left an arc distance of 972.57 feet to a S/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the right having a radius of 1037.00, a central angle of 11 degrees 36 minutes
01 seconds, and a chord bearing of North 78 degrees 01 minutes S8 seconds East, a distance
of 209.59 feet;
THENCE with said curve to the right an arc distance of 209.95 feet to a S/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner;
THENCE South 06 degrees 10 minutes 02 seconds East, a distance of S1.S2 feet to a S/8 inch
iron rod with a yellow plastic cap stamped"DUNAWAY ASSOC. LP" set for corner,said corner
57
1920.010\58189.10
being on a circular curve to the right having a radius of 1037.00 feet, a central angle of 02
degrees 09 minutes 38 seconds, and a chord bearing of North 81 degrees 42 minutes 27
seconds East, a distance of 39.10 feet;
THENCE with said curve to the right an arc distance of 39.10 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner, said corner being on a
circular curve to the right having a radius of 3154.50 feet, a central angle of 00 degrees 41
minutes 44 seconds, and a chord bearing of South 01 degrees 58 minutes 20 seconds East, a
distance of 38.29 feet;
THENCE with said curve to the right an arc distance of 38.29 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped"DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE South 01 degrees 37 minutes 29 seconds East, a distance of 132.96 feet to a 5/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner, said
corner being on a circular curve to the right having a radius of 1598.00 feet, a central angle
of 08 degrees 48 minutes 07 seconds, and a chord bearing of South 02 degrees 46 minutes
35 seconds West, a distance of 245.25 feet;
THENCE with said curve to the right an arc distance of 245.49 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner, said corner being on a
circular curve to the left having a radius of 193.00 feet, a central angle of 44 degrees 10
minutes 32 seconds, and a chord bearing of South 23 degrees 39 minutes 24 seconds West,
a distance of 145.15 feet;
THENCE with said curve to the left an arc distance of 148.81 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the right having a radius of 517.00, a central angle of 18 degrees 34 minutes 00
seconds, and a chord bearing of South 10 degrees 51 minutes 08 seconds West, a distance of
166.80 feet;
THENCE with said curve to the right an arc distance of 167.53 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the left having a radius of 783.00, a central angle of 19 degrees 59 minutes 11
seconds, and a chord bearing of South 10 degrees 08 minutes 33 seconds West, a distance of
271.75 feet;
THENCE with said curve to the left an arc distance of 273.13 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE South 00 degrees 08 minutes 58 seconds West, a distance of 257.44 feet to a 5/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
curvature of a curve to the left having a radius of 603.00, a central angle of 32 degrees 28
minutes 53 seconds, and a chord bearing of South 16 degrees O5 minutes 29 seconds East, a
distance of 337.29 feet;
58
1920.010\58189.10
THENCE with said curve to the left an arc distance of 341.84 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the right having a radius of 407.00, a central angle of 34 degrees 47 minutes 54
seconds, and a chord bearing of South 14 degrees 55 minutes 58 seconds East, a distance of
243.41 feet;
THENCE with said curve to the right an arc distance of 247.19 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the left having a radius of 443.00, a central angle of 15 degrees 47 minutes 58
seconds, and a chord bearing of South O5 degrees 26 minutes 00 seconds East, a distance of
121.77 feet;
THENCE with said curve to the left an arc distance of 122.16 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for point of reverse curvature of a
curve to the right having a radius of 837.00, a central angle of 20 degrees 46 minutes 55
seconds, and a chord bearing of South 02 degrees 56 minutes 31 seconds East, a distance of
301.93 feet;
THENCE with said curve to the right an arc distance of 303.59 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the left having a radius of 453.00, a central angle of 38 degrees 38 minutes 54
seconds, and a chord bearing of South 11 degrees 52 minutes 31 seconds East, a distance of
299.81feet;
THENCE with said curve to the left an arc distance of 305.57 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for point of reverse curvature of a
curve to the right having a radius of 127.00, a central angle of 43 degrees 22 minutes 47
seconds, and a chord bearing of South 09 degrees 30 minutes 34 seconds East, a distance of
93.87 feet;
THENCE with said curve to the right an arc distance of 96.15 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the left having a radius of 193.00, a central angle of 24 degrees 51 minutes 04
seconds, and a chord bearing of South 00 degrees 14 minutes 42 seconds East, a distance of
83.06 feet;
THENCE with said curve to the left an arc distance of 83.71 feet to a 5/8 inch iron rod with a
yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for point of reverse curvature of a
curve to the right having a radius of 200.00, a central angle of 24 degrees O5 minutes O5
seconds, and a chord bearing of South 00 degrees 37 minutes 41 seconds East, a distance of
83.45 feet;
THENCE with said curve to the right an arc distance of 84.07 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the left having a radius of 100.00, a central angle of 35 degrees 28 minutes 59
seconds, and a chord bearing of South 06 degrees 19 minutes 38 seconds East, a distance of
59
1920.010\58189.10
60.94 feet;
THENCE with said curve to the left an arc distance of 61.93 feet to a 5/8 inch iron rod with a
yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE South 24 degrees 04 minutes 08 seconds East, a distance of 651.54 feet to a 5/8
inch iron rod with a yellow plastic cap stamped"DUNAWAY ASSOC. LP" set for corner;
THENCE South 65 degrees 20 minutes 07 seconds East, a distance of 199.81 feet to a 5/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner, said
corner being on a circular curve to the right having a radius of 1018.00 feet, a central angle
of 03 degrees 21 minutes 56 seconds, and a chord bearing of South 10 degrees 40 minutes
28 seconds East, a distance of 59.79 feet;
THENCE with said curve to the right an arc distance of 59.80 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the end of said curve and the
beginning of a circular curve to the right having a radius of 988.00 feet, a central angle of 08
degrees 10 minutes 18 seconds, and a chord bearing of South 01 degrees 18 minutes 56
seconds East, a distance of 140.79 feet;
THENCE with said curve to the right an arc distance of 140.91 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the left having a radius of 612.00, a central angle of 04 degrees 23 minutes 39
seconds, and a chord bearing of South 03 degrees 49 minutes 07 seconds West, a distance of
46.92 feet;
THENCE with said curve to the left an arc distance of 46.94 feet to a 5/8 inch iron rod with a
yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE South 01 degrees 37 minutes 18 seconds West, a distance of 141.88 feet to a 5/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
curvature of a circular curve to the right having a radius of 110.00 feet, a central angle of 85
degrees 58 minutes 45 seconds, and a chord bearing of South 44 degrees 36 minutes 40
seconds West, a distance of 150.01 feet;
THENCE with said curve to the right an arc distance of 165.07 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE South 87 degrees 36 minutes 03 seconds West,a distance of 13.60 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner;
THENCE South 02 degrees 23 minutes 57 seconds East, a distance of 140.41 feet to a 5/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner;
THENCE North 87 degrees 36 minutes 03 seconds East, a distance of 15.09 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
curvature a circular curve to the right having a radius of 85.00 feet, a central angle of 94
60
1920.010\58189.10
degrees 01 minutes 1S seconds, and a chord bearing of South 4S degrees 23 minutes 20
seconds East, a distance of 124.35 feet;
THENCE with said curve to the right an arc distance of 139.48 feet to a S/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE South 01 degrees 37 minutes 18 seconds West,a distance of 59.40 feet to a S/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
curvature a circular curve to the left having a radius of 1095.50 feet, a central angle of 17
degrees 13 minutes S8 seconds, and a chord bearing of South 06 degrees S9 minutes 41
seconds East, a distance of 328.25 feet;
THENCE with said curve to the left an arc distance of 329.49 feet to a S/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a
compound curve to the left having a radius of 1012.00 feet, a central angle of 06 degrees 01
minutes 18 seconds, and a chord bearing of South 18 degrees 37 minutes 19 seconds East, a
distance of 106.31 feet;
THENCE with said curve to the left an arc distance of 106.36 feet to a S/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE South 21 degrees 37 minutes S8 seconds East, a distance of 116.87 feet to a S/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
curvature a circular curve to the right having a radius of 989.60 feet, a central angle of 04
degrees 30 minutes 39 seconds, and a chord bearing of South 19 degrees 22 minutes 32
seconds East, a distance of 77.89 feet;
THENCE with said curve to the right an arc distance of 77.91 feet to a S/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a
compound curve to the right having a radius of 1016.50 feet, a central angle of 1S degrees
47 minutes 29 seconds,and a chord bearing of South 09 degrees 14 minutes 2S seconds East,
a distance of 279.27 feet;
THENCE with said curve to the right an arc distance of 280.16 feet to a S/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE South 01 degrees 20 minutes 41 seconds East, a distance of 133.67 feet to a S/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
curvature of a curve to the left having a radius of 1083.50 feet, a central angle of 28 degrees
36 minutes 02 seconds,and a chord bearing of South 1S degrees 38 minutes 42 seconds East,
a distance of S3S.26 feet;
THENCE with said curve to the left an arc distance of 540.85 feet to a S/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the right having a radius of 988.00 feet,a central angle of 17 degrees S9 minutes
08 seconds, and a chord bearing of South 20 degrees S7 minutes 08 seconds East, a distance
of 308.87 feet;
61
1920.010\58189.10
THENCE with said curve to the right an arc distance of 310.14 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the left having a radius of 612.00 feet, a central angle of 01 degree 29 minutes
47 seconds, and a chord bearing of South 12 degrees 42 minutes 28 seconds East, a distance
of 15.98 feet;
THENCE with said curve to the left an arc distance of 15.98 feet to a 5/8 inch iron rod with a
yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature of
a curve to the right having a radius of 1004.50 feet, a central angle of 08 degrees 27 minutes
45 seconds, and a chord bearing of South 09 degrees 13 minutes 29 seconds East, a distance
of 148.23 feet;
THENCE with said curve to the right an arc distance of 148.36 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped"DUNAWAY ASSOC.LP"set for the point of compound curvature
of a curve to the right having a radius of 138.00 feet,a central angle of 90 degrees 27 minutes
45 seconds,and a chord bearing of South 40 degrees 14 minutes 16 seconds West,a distance
of 195.95 feet;
THENCE with said curve to the right an arc distance of 217.88 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the end of curve;
THENCE North 79 degrees 03 minutes 38 seconds West, a distance of 461.79 feet to a 5/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
curvature of a curve to the left having a radius of 1105.00 feet, a central angle of 32 degrees
23 minutes 14 seconds, and a chord bearing of South 84 degrees 44 minutes 45 seconds
West, a distance of 616.34 feet;
THENCE with said curve to the left an arc distance of 624.62 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the end of curve;
THENCE South 19 degrees 31 minutes 47 seconds West, a distance of 468.98 feet to a 5/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
curvature of a curve to the left having a radius of 1806.29 feet, a central angle of 23 degrees
45 minutes 46 seconds, and a chord bearing of South 08 degrees 04 minutes 14 seconds
West, a distance of 743.78 feet;
THENCE with said curve to the left an arc distance of 749.14 feet,to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE South 07 degrees 06 minutes 11 seconds East, a distance of 193.87 feet to a 5/8
inch iron rod with a yellow plastic cap stamped"DUNAWAY ASSOC.LP" set in the north right-
of-way line of Interstate Highway 30 (a variable width right-of-way);
THENCE with the north right-of-way line of said Interstate Highway 30 and Interstate
Highway 20 (a variable width right-of-way) the following courses and distances:
62
1920.010\58189.10
South 87 degrees 58 minutes 15 seconds West, a distance of 544.40 feet to an
aluminum TXDOT disc found;
North 79 degrees 44 minutes 29 seconds West, a distance of 102.61 feet to an
aluminum TXDOT disc found;
South 87 degrees 59 minutes 03 seconds West, a distance of 199.99 feet to an
aluminum TXDOT disc found;
South 75 degrees 36 minutes 14 seconds West, a distance of 102.49 feet to an
aluminum TXDOT disc found;
South 88 degrees 00 minutes 36 seconds West, a distance of 78.27 feet to an
aluminum TXDOT disc found for the point of curvature of a curve to the right
having a radius of 1398.07 feet, a central angle of 31 degrees 36 minutes 57
seconds,and a chord bearing of North 76 degrees 10 minutes 56 seconds West,
a distance of 761.70 feet;
With said curve to the right an arc distance of 771.45',to an aluminum TXDOT
disc found for the point of tangency;
North 60 degrees 16 minutes 55 seconds West, a distance of 728.27 feet to an
aluminum TXDOT disc found;
North 52 degrees 51 minutes 48 seconds West, a distance of 205.86 feet to an
aluminum TXDOT disc found;
North 65 degrees 36 minutes 35 seconds West, a distance of 204.62 feet to an
aluminum TXDOT disc found;
North 78 degrees 21 minutes 11 seconds West, a distance of 205.92 feet to an
aluminum TXDOT disc found for the point of curvature of a curve to the left
having a radius of 3027.79 feet, a central angle of 07 degrees 38 minutes 27
seconds,and a chord bearing of North 75 degrees 04 minutes 32 seconds West,
a distance of 403.48 feet;
With said curve to the left an arc distance of 403.78', to an aluminum TXDOT
disc found for the point of tangency;
North 78 degrees 57 minutes 26 seconds West, a distance of 1709.53 feet to
an aluminum TXDOT disc found for the point of curvature of a curve to the
right having a radius of 5693.90 feet, a central angle of 10 degrees 27 minutes
29 seconds, and a chord bearing of North 73 degrees 43 minutes 41 seconds
West, a distance of 1037.85 feet;
With said curve to the right an arc distance of 1039.29',to an aluminum TXDOT
63
1920.010\58189.10
disc found for the point of tangency;
North 67 degrees 25 minutes 24 seconds West, a distance of 1369.53 feet to a
5/8 inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP"
set for the point of curvature of a curve to the left having a radius of 5815.38
feet, a central angle of 03 degrees 38 minutes 25 seconds, and a chord bearing
of North 69 degrees 14 minutes 36 seconds West, a distance of 369.41 feet;
With said curve to the left an arc distance of 369.48', to a 5/8 inch iron rod
with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the end of
curve;
THENCE North 25 degrees 57 minutes 28 seconds East, a distance of 36.78 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
curvature of a curve to the right having a radius of 2050.00 feet,a central angle of 14 degrees
24 minutes 02 seconds,and a chord bearing of North 33 degrees 09 minutes 29 seconds East,
a distance of 513.89 feet;
THENCE with said curve to the right an arc distance of 515.24 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE North 40 degrees 21 minutes 30 seconds East, a distance of 652.96 feet to a 5/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
curvature of a curve to the left having a radius of 1250.00 feet, a central angle of 14 degrees
30 minutes 52 seconds,and a chord bearing of North 33 degrees 06 minutes 04 seconds East,
a distance of 315.81 feet;
THENCE with said curve to the left an arc distance of 316.66 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE North 25 degrees 50 minutes 38 seconds East, a distance of 777.57 feet to a 5/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
curvature of a curve to the left having a radius of 750.00 feet, a central angle of 40 degrees
20 minutes 08 seconds,and a chord bearing of North O5 degrees 40 minutes 34 seconds East,
a distance of 517.16 feet;
THENCE with said curve to the left an arc distance of 527.99 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped"DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE North 14 degrees 29 minutes 30 seconds West, a distance of 437.61 feet to a 5/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
curvature of a curve to the right having a radius of 900.00 feet, a central angle of 34 degrees
12 minutes 30 seconds,and a chord bearing of North 02 degrees 36 minutes 45 seconds East,
a distance of 529.40 feet;
THENCE with said curve to the right an arc distance of 537.34 feet to a 5/8 inch iron rod with
64
1920.010\58189.10
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE North 19 degrees 43 minutes 00 seconds East, a distance of 354.73 feet to a 5/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE North 00 degrees 30 minutes 14 seconds West, a distance of 213.86 feet to the
POINT OF BEGINNING and containing 52,773,514 square feet or 1,211.51 acres of land more
or less.
TRACT 2 (Quail Valley)
Being a 411.43 acre tract of land situated in the Houston Tap & Brazoria RR Co Survey,
Abstract Number 654, the International & Great Northern RR Co Survey, Abstract Number
2004,Jonathan Burleson Survey,Abstract Number 78 and the M.0 Moulton Survey,Abstract
Number 934, Parker and Tarrant County, being part of a tract of land described in deed to
Walsh Ranches Limited Partnership, as recorded in Volume 1699, Page 1765, Deed Records,
Parker County, Texas (D.R.P.C.T), as previously described in deed recorded in Volume 237,
Page 562, D.R.P.C.T.,and recorded in Volume 12624, Page 92,Deed Records,Tarrant County,
Texas (D.R.T.C.T),said 411.43 acre tract of land being more particularly described as follows:
COMMENCING at a steel axle found for the most easterly northeast corner of said Walsh
Ranches Limited Partnership tract;
THENCE South 89 degrees 49 minutes 28 seconds West a distance of 909.63 feet to a 5/8
inch iron rod with a yellow plastic cap stamped"DUNAWAY ASSOC. LP" set for corner for the
POINT OF BEGINNING, said corner being on a circular curve to the right having a radius of
1022.00 feet, a central angle of 61 degrees 31 minutes 09 seconds, and a chord bearing of
South 29 degrees 01 minutes 57 seconds West, a distance of 1045.38 feet;
THENCE with said curve to the right an arc distance of 1097.33 feet to a 5/8 inch iron rod
with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the left having a radius of 1022.00, a central angle of 32 degrees 17
minutes 50 seconds, and a chord bearing of South 43 degrees 38 minutes 37 seconds West,
a distance of 568.50 feet;
THENCE with said curve to the left an arc distance of 576.09 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a
compound curve to the left having a radius of 2300.00, a central angle of 34 degrees 48
minutes 57 seconds, and a chord bearing of South 10 degrees 05 minutes 14 seconds West,
a distance of 1376.19 feet;
THENCE with said curve to the left an arc distance of 1397.59 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a
circular curve to the right having a radius of 1300.00, a central angle of 26 degrees 55
65
1920.010\58189.10
minutes 47 seconds, and a chord bearing of South 06 degrees 08 minutes 39 seconds West,
a distance of 605.41 feet;
THENCE with said curve to the right an arc distance of 611.01 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner, said corner being on a
circular curve to the left having a radius of 1855.00,a central angle of 06 degrees 19 minutes
35 seconds,and a chord bearing of North 85 degrees 25 minutes 29 seconds West,a distance
of 204.72 feet;
THENCE with said curve to the left an arc distance of 204.82 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE North 88 degrees 35 minutes 16 seconds West a distance of 734.26 feet to a 5/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
curvature to the right having a radius of 1445.00 feet, a central angle of 08 degrees 46
minutes 19 seconds, and a chord bearing of North 84 degrees 12 minutes 07 seconds West,
a distance of 221.01 feet;
THENCE with said curve to the right an arc distance of 221.23 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE North 79 degrees 48 minutes 58 seconds West a distance of 302.82 feet to a 5/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
curvature to the left having a radius of 1555.00 feet,a central angle of 27 degrees 35 minutes
31 seconds,and a chord bearing of North 86 degrees 23 minutes 17 seconds West,a distance
of 741.63 feet;
THENCE with said curve to the left an arc distance of 748.84 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE South 72 degrees 35 minutes 31 seconds West a distance of 339.75 feet to a S/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
curvature to the right having a radius of 1845.00 feet, a central angle of 09 degrees 54
minutes 08 seconds, and a chord bearing of South 77 degrees 32 minutes 36 seconds West,
a distance of 318.47 feet;
THENCE with said curve to the right an arc distance of 318.87 feet to a S/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a
compound curve to the right having a radius of 83.00, a central angle of 09 degrees 21
minutes 17 seconds, and a chord bearing of South 87 degrees 10 minutes 18 seconds West,
a distance of 13.54 feet;
THENCE with said curve to the right an arc distance of 13.55 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for point of tangency;
THENCE North 88 degrees 09 minutes 03 seconds West a distance of 67.57 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
66
1920.010\58189.10
curvature to the left having a radius of 267.00 feet, a central angle of 05 degrees 58 minutes
53 seconds,and a chord bearing of South 88 degrees 51 minutes 30 seconds West,a distance
of 27.86 feet;
THENCE with said curve to the left an arc distance of 27.87 feet to a 5/8 inch iron rod with a
yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature of
a curve to the right having a radius of 1833.00, a central angle of 02 degrees 31 minutes 51
seconds, and a chord bearing of South 87 degrees 07 minutes 59 seconds West, a distance of
80.96 feet;
THENCE with said curve to the right an arc distance of 80.97 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE South 88 degrees 25 minutes 41 seconds West a distance of 50.60 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner;
THENCE South 88 degrees 48 minutes 51 seconds West a distance of 48.15 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner on a
circular curve to the right having a radius of 138.00,a central angle of 28 degrees 07 minutes
19 seconds,and a chord bearing of North 61 degrees 29 minutes 46 seconds West,a distance
of 67.06 feet;
THENCE with said curve to the right an arc distance of 67.73 feet to an `X' cut in concrete for
corner;
THENCE North 45 degrees 03 minutes 24 seconds East a distance of 10.88 feet to an `X' cut
in concrete for the point of curvature to the left having a radius of 107.00 feet,a central angle
of 66 degrees 15 minutes 56 seconds, and a chord bearing of North 11 degrees 55 minutes
27 seconds East, a distance of 116.97 feet;
THENCE with said curve to the left an arc distance of 123.75 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the right having a radius of 193.00, a central angle of 21 degrees 16 minutes 50
seconds, and a chord bearing of North 10 degrees 34 minutes 06 seconds West, a distance of
71.27 feet;
THENCE with said curve to the right an arc distance of 71.68 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the left having a radius of 257.00, a central angle of 64 degrees 38 minutes 14
seconds, and a chord bearing of North 32 degrees 14 minutes 49 seconds West, a distance of
274.80 feet;
THENCE with said curve to the left an arc distance of 289.93 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the right having a radius of 253.00, a central angle of 81 degrees 13 minutes 26
seconds, and a chord bearing of North 23 degrees 57 minutes 13 seconds West, a distance of
67
1920.010\58189.10
329.37 feet;
THENCE with said curve to the right an arc distance of 358.66 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the left having a radius of 377.00, a central angle of 66 degrees 03 minutes 23
seconds, and a chord bearing of North 16 degrees 22 minutes 11 seconds West, a distance of
410.97 feet;
THENCE with said curve to the left an arc distance of 434.64 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the right having a radius of 273.00, a central angle of 56 degrees 29 minutes 27
seconds, and a chord bearing of North 21 degrees 09 minutes 09 seconds West, a distance of
258.39 feet;
THENCE with said curve to the right an arc distance of 269.17 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the left having a radius of 257.00, a central angle of 43 degrees 41 minutes 19
seconds, and a chord bearing of North 14 degrees 45 minutes O5 seconds West, a distance of
191.25 feet;
THENCE with said curve to the left an arc distance of 195.96 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the right having a radius of 268.00, a central angle of 69 degrees 51 minutes 02
seconds, and a chord bearing of North 01 degrees 40 minutes 13 seconds West, a distance of
306.86 feet;
THENCE with said curve to the right an arc distance of 326.72 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the left having a radius of 307.00, a central angle of 60 degrees 52 minutes 48
seconds, and a chord bearing of North 02 degrees 48 minutes 54 seconds East, a distance of
311.07 feet;
THENCE with said curve to the left an arc distance of 326.20 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the right having a radius of 233.00, a central angle of 56 degrees 37 minutes 31
seconds, and a chord bearing of North 00 degrees 41 minutes 16 seconds East, a distance of
221.02 feet;
THENCE with said curve to the right an arc distance of 230.27 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the left having a radius of 127.00, a central angle of 106 degrees 07 minutes 38
seconds, and a chord bearing of North 24 degrees 03 minutes 48 seconds West, a distance of
203.02 feet;
THENCE with said curve to the left an arc distance of 235.24 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner;
68
1920.010\58189.10
THENCE North 26 degrees 08 minutes 54 seconds West a distance of 247.14 feet to a 5/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner;
THENCE North 71 degrees 08 minutes 54 seconds West a distance of 64.62 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner;
THENCE North 26 degrees 08 minutes 54 seconds West a distance of 379.60 feet to a 5/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner;
THENCE North 28 degrees 26 minutes 20 seconds West a distance of 116.36 feet to a 5/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner;
THENCE North 16 degrees 39 minutes 10 seconds East a distance of 135.76 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner;
THENCE North 28 degrees 20 minutes 50 seconds West a distance of 703.92 feet to a 5/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner;
THENCE North 73 degrees 20 minutes 50 seconds West a distance of 36.77 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner;
THENCE South 63 degrees 51 minutes 06 seconds West a distance of 115.61 feet to a 5/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner;
THENCE North 26 degrees 08 minutes 54 seconds West a distance of 331.47 feet to a 5/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for point of
curvature to the right having a radius of 1018.00 feet, a central angle of 06 degrees 58
minutes 24 seconds, and a chord bearing of North 22 degrees 39 minutes 42 seconds West,
a distance of 123.82 feet;
THENCE with said curve to the right an arc distance of 123.90 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner;
THENCE North 70 degrees 49 minutes 30 seconds East a distance of 0.50 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped"DUNAWAY ASSOC. LP" set for corner,said corner
being on a circular curve to the right having a radius of 1017.50 feet, a central angle of 17
degrees 33 minutes 02 seconds, and a chord bearing of North 10 degrees 33 minutes 59
seconds West, a distance of 310.46 feet;
THENCE with said curve to the right an arc distance of 311.67 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE North 01 degrees 37 minutes 29 seconds West a distance of 1823.60 feet to a 5/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner, said
corner being on a circular curve to the left having a radius of 15.50 feet, a central angle of 25
degrees 45 minutes 03 seconds, and a chord bearing of North 11 degrees 04 minutes 42
seconds East, a distance of 6.91 feet;
69
1920.010\58189.10
THENCE with said curve to the left an arc distance of 6.97 feet to a 5/8 inch iron rod with a
yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE North 01 degrees 47 minutes 49 seconds West a distance of 17.00 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
curvature of a curve to the left having a radius of 15.50 feet, a central angle of 25 degrees 36
minutes 41 seconds, and a chord bearing of North 14 degrees 36 minutes 10 seconds West,
a distance of 6.87 feet;
THENCE with said curve to the left an arc distance of 6.93 feet to a 5/8 inch iron rod with a
yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner, said corner being on a
circular curve to the left having a radius of 3335.00 feet, a central angle of 03 degrees 47
minutes 41 seconds, and a chord bearing of North 03 degrees 54 minutes 25 seconds West,
a distance of 220.83 feet;
THENCE with said curve to the left an arc distance of 220.87 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner;
THENCE South 84 degrees 11 minutes 45 seconds West a distance of 152.50 feet to a 5/8
inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner, said
corner being on a circular curve to the right having a radius of 3182.50 feet, a central angle
of 00 degrees 29 minutes 37 seconds, and a chord bearing of South 05 degrees 33 minutes
27 seconds East, a distance of 27.41 feet;
THENCE with said curve to the right an arc distance of 27.41 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped"DUNAWAY ASSOC. LP" set for corner;
THENCE South 39 degrees 59 minutes 42 seconds West a distance of 34.41 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for corner;
THENCE North 55 degrees 36 minutes 07 seconds West a distance of 7.05 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
curvature of a curve to the left having a radius of 207.00 feet, a central angle of 62 degrees
22 minutes 05 seconds, and a chord bearing of North 86 degrees 47 minutes 09 seconds
West, a distance of 214.36 feet;
THENCE with said curve to the left an arc distance of 225.33 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the right having a radius of 218.00, a central angle of 69 degrees 49 minutes 51
seconds, and a chord bearing of North 83 degrees 03 minutes 16 seconds West, a distance of
249.55 feet;
THENCE with said curve to the right an arc distance of 265.69 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the left having a radius of 207.00, a central angle of 59 degrees 22 minutes 57
seconds, and a chord bearing of North 77 degrees 49 minutes 49 seconds West, a distance of
70
1920.010\58189.10
205.07 feet;
THENCE with said curve to the left an arc distance of 214.54 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE South 72 degrees 28 minutes 42 seconds West a distance of 78.56 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
curvature of a curve to the right having a radius of 143.00 feet, a central angle of 50 degrees
42 minutes 13 seconds, and a chord bearing of North 82 degrees 10 minutes 11 seconds
West, a distance of 122.46 feet;
THENCE with said curve to the right an arc distance of 126.55 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the left having a radius of 427.00, a central angle of 36 degrees 59 minutes 24
seconds, and a chord bearing of North 75 degrees 18 minutes 47 seconds West, a distance of
270.91 feet;
THENCE with said curve to the left an arc distance of 275.67 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the right having a radius of 593.00 feet,a central angle of 36 degrees 45 minutes
17 seconds,and a chord bearing of North 75 degrees 25 minutes 53 seconds West,a distance
of 373.90 feet;
THENCE with said curve to the right an arc distance of 380.39 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the left having a radius of 207.00, a central angle of 58 degrees 39 minutes 22
seconds, and a chord bearing of North 86 degrees 22 minutes 58 seconds West, a distance of
202.78 feet;
THENCE with said curve to the left an arc distance of 211.91 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the right having a radius of 93.00 feet, a central angle of 26 degrees 50 minutes
37 seconds,and a chord bearing of South 77 degrees 42 minutes 40 seconds West,a distance
of 43.17 feet;
THENCE with said curve to the right an arc distance of 43.57 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE North 88 degrees 52 minutes 02 seconds West a distance of 21.21 feet to a S/8 inch
iron rod with a yellow plastic cap stamped"DUNAWAY ASSOC. LP" set for corner,said corner
being on a circular curve to the right having a radius of 60.00 feet, a central angle of 40
degrees 01 minutes 07 seconds, and a chord bearing of North 17 degrees 18 minutes 33
seconds West, a distance of 41.06 feet;
THENCE with said curve to the right an arc distance of 41.91feet to a 5/8 inch iron rod with
a yellow plastic cap stamped"DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE North 02 degrees 42 minutes 00 seconds East a distance of 35.97 feet to a 5/8 inch
71
1920.010\58189.10
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
curvature of a circular curve to the right having a radius of 65.00 feet, a central angle of 53
degrees 30 minutes 46 seconds, and a chord bearing of North 29 degrees 27 minutes 23
seconds East, a distance of 58.53 feet;
THENCE with said curve to the right an arc distance of 60.71 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped"DUNAWAY ASSOC. LP" set for corner near the south side of Old
Weatherford Road (undedicated);
THENCE North 72 degrees 21 minutes 50 seconds East, near a wire fence along the south
side of said Old Weatherford Road, a distance of 328.98 feet to a 5/8 inch iron rod with
yellow cap stamped "DUNAWAY ASSOC. LP" set near the west end of a bridge for corner;
THENCE North 83 degrees 23 minutes 06 seconds East, near said bridge and said Old
Weatherford Road, a distance of 59.65 feet to the approximate centerline of Mary's Creek;
THENCE along the approximate centerline of Mary's Creek the following courses and
distances:
South 55 degrees 36 minutes 16 seconds East, a distance of 79.20 feet to a
point for corner;
South 78 degrees 55 minutes 26 seconds East, a distance of 98.53 feet to a
point for corner;
South 87 degrees 17 minutes 32 seconds East, a distance of 78.41 feet to a
point for corner;
North 87 degrees 23 minutes 48 seconds East, a distance of 95.05 feet to a
point for corner;
South 63 degrees 48 minutes 53 seconds East, a distance of 92.77 feet to a
point for corner;
South 70 degrees 42 minutes 53 seconds East, a distance of 72.59 feet to a
point for corner;
South 83 degrees 45 minutes 43 seconds East, a distance of 60.03 feet to a
point for corner;
North 65 degrees 28 minutes 24 seconds East, a distance of 45.32 feet to a
point for corner;
North 51 degrees 48 minutes 31 seconds East, a distance of 138.31 feet to a
point for corner;
72
1920.010\58189.10
South 78 degrees 47 minutes 12 seconds East, a distance of 46.06 feet to a
point for corner;
South 49 degrees 50 minutes 11 seconds East, a distance of 203.84 feet to a
point for corner;
South 66 degrees 19 minutes 25 seconds East, a distance of 73.83 feet to a
point for corner;
South 85 degrees S3 minutes 12 seconds East, a distance of 59.42 feet to a
point for corner;
North 59 degrees S2 minutes 11 seconds East, a distance of 197.53 feet to a
point for corner;
North 64 degrees 16 minutes 04 seconds East, a distance of 98.27 feet to a
point for corner;
North 60 degrees 39 minutes 19 seconds East, a distance of 178.82 feet to a
point for corner;
North 70 degrees 49 minutes 25 seconds East, a distance of 73.88 feet to a
point for corner;
North S7 degrees 57 minutes S8 seconds East, a distance of 104.85 feet to a
point for corner on the east line of said Walsh Ranches Limited Partnership
tract and the west line of a tract of land described in deed to Donald L.Pengelly
and Joan Pengelly, as recorded in Volume 1448, Page 483, D.R.P.C.T.;
THENCE South 00 degrees 46 minutes 40 seconds East, along the east line of said Walsh
Ranches Limited Partnership tract,passing a railroad spike found at a distance of 627.00 feet
for the southwest corner of said Pengelly tract,passing a 1/2 inch iron rod found at a distance
of 2235.76 feet for the northwest corner of a tract (Tract I) of land described in deed to W.C.
Weeden, Trustee, as recorded in Volume 1505, Page 743, D.R.P.C.T., continuing a total
distance of distance of 2700.06 feet to a stone found for an ell corner of said Walsh Ranches
Limited Partnership tract;
THENCE North 89 degrees 27 minutes 32 seconds East, along said Walsh Ranches Limited
Partnership tract, a distance of 3530.15 feet to a stone found for an ell corner of said Walsh
Ranches Limited Partnership tract;
THENCE South 00 degrees 43 minutes 04 seconds East, along said Walsh Ranches Limited
Partnership tract, a distance of 1251.87 feet to a fence corner post found for an ell corner of
said Walsh Ranches Limited Partnership tract;
THENCE North 89 degrees 49 minutes 28 seconds East a distance of 2473.87 feet to the
73
1920.010\58189.10
POINT OF BEGINNING and containing 17,922,035 square feet or 411.43 acres of land more
or less.
TRACT 3 (Old Weatherford Road)
Being a 7.210 acre tract of land situated in the International&Great Northern RR Co Survey,
Abstract Number 2004,the Heirs of C.H. Higbee Survey,Abstract Number 2740, and the M.0
Moulton Survey, Abstract Number 934, Parker County, being part of the tract of land
described in the deed to Walsh Ranches Limited Partnership,recorded in Volume 1699,Page
1765, Deed Records, Parker County, Texas, said 7.210 acre tract of land being more
particularly described as follows:
COMMENCING at a stone found for the southwest corner of the John Kelsey Survey,Abstract
Number 782, a re-entrant corner of the International & Great Northern RR Co Survey,
Abstract Number 2004;
THENCE with an east line of said Walsh Ranches tract and the west lines of the tract of land
described in the deed to John and Mary Lowery, recorded in Volume 1540, Page 1666, Deed
Records, Parker County,Texas,the tract of land described in the deed to Debra Faye Johnson
Head,recorded in Volume 1410, Page 829,Deed Records,Parker County,Texas,and the tract
of land described in the deed to Mary's Creek Properties, recorded in Volume 1848, Page
1466, Deed Records, Parker County, Texas North 00°46'53" West a distance of 2022.31 feet
to a point from which a 1 inch iron rod found for the point of commencing of Tract II in the
deed to John and Mary Lowery and the called northwest corner of the John Kelsey Survey
bears North 00°46'53"West a distance of 737.21 feet;
THENCE departing said east and west lines South 89°13'07" West a distance of 284.77 feet
to a 5/8 inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the
point of curvature of a non-tangent curve to the left having a radius of 1037.00 feet,a central
angle of 11°36'01", and a chord bearing and distance of South 78°01'58" West 209.59 feet,
and the POINT OF BEGINNING;
THENCE with said non-tangent curve to the left an arc distance of 209.95 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped"DUNAWAY ASSOC.LP"set for the point of reverse
curvature of a curve to the right having a radius of 1076.50 feet,a central angle of 51°45'52",
and a chord bearing and distance of North 81°53'07"West 939.83 feet;
THENCE with said reverse curve to the right an arc distance of 972.57 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the left having a radius of 1023.50 feet, a central angle of 31°17'49",
and a chord bearing and distance North 71°39'05" West 552.15 feet;
THENCE with said reverse curve to the left an arc distance of 559.07 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
74
1920.010\58189.10
THENCE North 87°18'00" West a distance of 146.19 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE North 02°42'00" East a distance of 53.00 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE South 87°18'00" East a distance of 13.00 feet to a S/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a curve to the
left having a radius of 17.00 feet, a central angle of 90°00'00", and a chord bearing and
distance of North 47°42'00" East 24.04 feet;
THENCE with said curve to the left an arc distance of 26.70 feet to a S/8 inch iron rod with a
yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE North 02°42'00" East a distance of 50.38 feet to a S/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a curve to the
left having a radius of 65.00 feet, a central angle of 77°04'41", and a chord bearing and
distance of North 3S°50'20"West 81.00 feet;
THENCE with said curve to the left an arc distance of 87.44 feet to a S/8 inch iron rod with a
yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the end of curve in the occupied
southerly line of Old Weatherford Road;
THENCE with the occupied southerly line of Old Weatherford Road, North 82°36'43" East a
distance of 122.71 feet to a S/8 inch iron rod with a yellow plastic cap stamped "DUNAWAY
ASSOC. LP" set for the beginning of a non-tangent curve to the left having a radius of 65.00
feet, a central angle of S3°30'46", and a chord bearing and distance of South 29°27'23"West
58.53 feet;
THENCE departing the occupied southerly line of Old Weatherford Road, with said non-
tangent curve to the left an arc distance of 60.71 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE South 02°42'00"West a distance of 35.97 to a S/8 inch iron rod with a yellow plastic
cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a curve to the left
having a radius of 60.00 feet, a central angle of 40°01'07", and a chord bearing and distance
of South 17°18'33" East 41.06 feet;
THENCE with said curve to the left an arc distance of 41.91 feet to a 5/8 inch iron rod with a
yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the end of curve;
THENCE South 88°52'02" East a distance of 20.21 feet to a S/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a curve to the
left having a radius of 93.00 feet, a central angle of 26°50'37", and a chord bearing and
distance of North 77°42'40" East 43.17 feet;
75
1920.010\58189.10
THENCE with said curve to the left an arc distance of 43.57 feet to a 5/8 inch iron rod with a
yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature of
a curve to the right having a radius of 207.00 feet, a central angle of 58°39'22", and a chord
bearing and distance of South 86°22'58" East 202.78 feet;
THENCE with said reverse curve to the right an arc distance of 211.91 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the left having radius of 593.00 feet,a central angle of 36°45'12", and
a chord bearing and distance of South 75°25'53" East 373.90 feet;
THENCE with said reverse curve to the left an arc distance of 380.39 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the right having radius of 427.00 feet, a central angle of 36°59'24",
and a chord bearing and distance of South 75°18'47" East 270.91 feet;
THENCE with said reverse curve to the right an arc distance of 275.67 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the left having radius of 143.00 feet,a central angle of 50°42'13", and
a chord bearing and distance of South 82°10'11" East 122.46 feet;
THENCE with said reverse curve to the left an arc distance of 126.55 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE North 72°28'42" East a distance of 78.56 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a curve to the
right having a radius of 207.00 feet, a central angle of 59°22'57", and a chord bearing and
distance of South 77°49'49" East 205.07 feet;
THENCE with said curve to the right an arc distance of 214.54 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the left having radius of 218.00 feet, a central angle of 69°49'51", and a chord
bearing and distance of South 83°03'16" East 249.55 feet;
THENCE with said reverse curve to the left an arc distance of 265.69 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the right having radius of 207.00 feet, a central angle of 62°22'05",
and a chord bearing and distance of South 86°47'09" East 214.36 feet;
THENCE with said reverse curve to the right an arc distance of 225.33 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE South 55°36'07" East a distance of 7.05 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE South 39°59'42" West a distance of 47.89 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
76
1920.010\58189.10
THENCE South 83°49'58" West a distance of 14.46 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE South 06°10'02" East a distance of 57.00 feet to the POINT OF BEGINNING.
Containing a computed area of 314,077 square feet or 7.210 acres of land.
TRACT 4 (Walsh Ranch Parkway)
Being a 93.178 acre tract of land situated in the Houston Tap & Brazoria RR Co Survey,
Abstract Number 654, the International & Great Northern RR Co Survey, Abstract Number
2004, the Heirs of C.H. Higbee Survey,Abstract Number 2740, and the M.0 Moulton Survey,
Abstract Number 934, Parker County, being part of Tract A described in the deed recorded
in Volume 2072, Page 983, Deed Records, Parker County, Texas, also being part of the tract
of land described in the deed to Walsh Ranches Limited Partnership, recorded in Volume
1699, Page 1765, Deed Records, Parker County, Texas, said 93.178 acre tract of land being
more particularly described as follows:
COMMENCING at a 5/8 inch iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC.
LP" set at the intersection of the northerly right-of-way line of Interstate Highway 30 (a
variable width right-of-way) and the Tarrant County and Parker County line;
THENCE with the northerly right-of-way line of Interstate Highway 30 the following courses
and distances:
South 89°34'23" West a distance of 384.74 feet to a 5/8 inch iron rod with a yellow plastic
cap stamped "DUNAWAY ASSOC. LP" set;
North 61°50'37"West a distance of 67.00 feet to a 5/8 inch iron rod with a yellow plastic cap
stamped "DUNAWAY ASSOC. LP" set;
North 88°21'37" West a distance of 198.31 feet to a Texas Department of Transportation
monument found;
South 68°32'23" West a distance of 54.63 feet to a Texas Department of Transportation
monument found;
North 87°42'45" West a distance of 1100.00 feet to a Texas Department of Transportation
monument found;
North 63°57'37" West a distance of 54.63 feet to a Texas Department of Transportation
monument found;
North 87°10'37" West a distance of 148.10 feet;
77
1920.010\58189.10
South 70°28'23" West a distance of 53.84 feet to a Texas Department of Transportation
monument found;
North 84°10'52" West a distance of 71.36 feet to a Texas Department of Transportation
monument found;
North 83°27'51" West a distance of 200.00 feet to a Texas Department of Transportation
monument found for the beginning of a non-tangent curve to the left having a radius of
1947.86 feet,a central angle of 4°17'47"and a chord bearing and distance of North 85°36'17"
West 146.03 feet;
With said non-tangent curve to the left an arc distance of 146.07 feet to the end of curve;
THENCE departing the northerly right-of-way line of Interstate Highway 30,North 02°13'26"
East a distance of 121.47 feet to a 5/8 inch iron rod with a yellow plastic cap stamped
"DUNAWAY ASSOC. LP" set for the POINT OF BEGINNING;
THENCE West a distance of 175.00 feet to a 5/8 inch iron rod with a yellow plastic cap
stamped "DUNAWAY ASSOC. LP" set;
THENCE North a distance of 106.00 feet to a 5/8 inch iron rod with a yellow plastic cap
stamped"DUNAWAY ASSOC. LP" set for the point of curvature of a tangent curve to the right
having a radius of 612.00 feet, a central angle of 01°59'46", and a chord bearing and distance
of North 00°59'53" East 21.32 feet;
THENCE with said tangent curve to the right an arc distance of 21.32 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the left having a radius of 988.00, a central angle of 17°51'20", and a
chord bearing and distance of North 06°55'54" West 306.65 feet;
THENCE with said reverse curve to the left an arc distance of 307.90 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE North 15°51'34" West a distance of 93.20 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a curve to the
right having a radius of 1083.50, a central angle of 14°15'22", and a chord bearing and
distance of North 08°43'53" West 268.90 feet;
THENCE with said curve to the right an arc distance of 269.59 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the left having a radius of 238.00, a central angle of 65°41'31", and a chord
bearing and distance of North 34°26'58" West 258.17 feet;
THENCE with said reverse curve to the left an arc distance of 272.88 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the end of curve;
78
1920.010\58189.10
THENCE North 79°03'38" West a distance of 58.53 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE North 10°56'22" East a distance of 122.00 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE South 79°03'38" East a distance of 70.31 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a non-tangent
curve to the left having a radius of 138.00, a central angle of 90°27'45", and a chord bearing
and distance of North 40°14'16" East 195.95 feet;
THENCE with said non-tangent curve to the left an arc distance of 217.88 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
compound curvature of a curve to the left having a radius of 1004.50 feet, a central angle of
08°27'45", and a chord bearing and distance of North 09°13'29" West 148.23 feet;
THENCE with said compound curve to the left an arc distance of 148.36 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped"DUNAWAY ASSOC.LP"set for the point of reverse
curvature of a curve to the right having a radius of 612.00, a central angle of 01°29'47", and
a chord bearing and distance of North 12°42'28" West 15.98 feet;
THENCE with said reverse curve to the right an arc distance of 15.98 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the left having a radius of 988.00, a central angle of 17°59'08", and a
chord bearing and distance of North 20°57'08" West 308.87 feet;
THENCE with said reverse curve to the left an arc distance of 310.14 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the right having a radius of 1083.50, a central angle of 28°36'02", and
a chord bearing and distance of North 15°38'42" West 535.26 feet;
THENCE with said reverse curve to the right an arc distance of 540.85 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE North 01°20'41"West a distance of 133.67 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a curve to the
left having a radius of 1016.50,a central angle of 15°47'29",and a chord bearing and distance
of North 09°14'25" West 279.27 feet;
THENCE with said curve to the left an arc distance of 280.16 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped"DUNAWAY ASSOC.LP"set for the point of compound curvature
of a curve to the left having a radius of 989.60, a central angle of 04°30'39", and a chord
bearing and distance of North 19°22'32" West 77.89 feet;
THENCE with said compound curve to the left an arc distance of 77.91 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the end of curve;
79
1920.010\58189.10
THENCE North 21°37'58"West a distance of 116.87 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a curve to the
right having a radius of 1012.00, a central angle of 06°01'18", and a chord bearing and
distance of North 18°37'19"West 106.31 feet;
THENCE with said curve to the right an arc distance of 106.36 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped"DUNAWAY ASSOC.LP"set for the point of compound curvature
of a curve to the right having a radius of 1095.50, a central angle of 1713'58", and a chord
bearing and distance of North 06°59'41" West 328.25 feet;
THENCE with said compound curve to the right an arc distance of 329.49 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
tangency;
THENCE North 01°37'18" East a distance of 59.40 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a curve to the
left having a radius of 85.00 feet; a central angle of 94°01'15", and a chord bearing and
distance of North 45°23'20"West 124.35 feet;
THENCE with said curve to the left an arc distance of 139.48 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE South 87°36'03" West a distance of 15.09 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE North 02°23'57"West a distance of 140.41 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE North 87°36'03" East a distance of 13.60 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a curve to the
left having a radius of 110.00 feet; a central angle of 85°58'45", and a chord bearing and
distance of North 44°36'40" East 150.01 feet;
THENCE with said curve to the left an arc distance of 165.07 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE North 01°37'18" East a distance of 141.88 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a curve to the
right having a radius of 612.00 feet; a central angle of 04°23'39", and a chord bearing and
distance of North 03°49'07" East 46.92 feet;
THENCE with said curve to the right an arc distance of 46.94 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the left having a radius of 988.00 feet, a central angle of 08°10'18", and a chord
bearing and distance North 01°18'56" West 140.79 feet;
THENCE with said reverse curve to the left an arc distance of 140.91 feet to a 5/8 inch iron
80
1920.010\58189.10
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of compound
curvature of a curve to the left having a radius of 1018.00 feet, a central angle of 03°21'56",
and a chord bearing and distance of North 10°40'28" West 59.79 feet;
THENCE with said compound curve to the left an arc distance of 59.80 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the end of curve;
THENCE North 65°20'07"West a distance of 199.81 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE North 24°04'08"West a distance of 651.54 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a curve to the
right having a radius of 100.00 feet, a central angle of 35°28'59", and a chord bearing and
distance of North 06°19'38" West 60.94 feet;
THENCE with said curve to the right an arc distance of 61.93 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the left having a radius of 200.00 feet, a central angle of 24°05'05", and a chord
bearing and distance of North 00°37'41" West 83.45 feet;
THENCE with said reverse curve to the left an arc distance of 84.07 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the right having a radius of 193.00 feet, a central angle of 24°51'04",
and a chord bearing and distance of North 00°14'42" West 83.06 feet;
THENCE with said reverse curve to the right an arc distance of 83.71 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the left having a radius of 127.00 feet, a central angle of 43°22'47",
and a chord bearing and distance of North 09°30'34" West 93.87 feet;
THENCE with said reverse curve to the left an arc distance of 96.15 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the right having a radius of 453.00 feet, a central angle of 38°38'54",
and a chord bearing and distance of North 11°52'31" West 299.81 feet;
THENCE with said reverse curve to the right an arc distance of 305.57 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the left having a radius of 837.00 feet, a central angle of 20°46'55",
and a chord bearing and distance of North 02°56'31" West 301.93 feet;
THENCE with said reverse curve to the left an arc distance of 303.59 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the right having a radius of 443.00 feet, a central angle of 15°47'58",
and a chord bearing and distance of North 05°26'00" West 121.77 feet;
THENCE with said reverse curve to the right an arc distance of 122.16 feet to a 5/8 inch iron
81
1920.010\58189.10
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the left having a radius of 407.00 feet, a central angle of 34°47'54",
and a chord bearing and distance of North 14°55'58" West 243.41 feet;
THENCE with said reverse curve to the left an arc distance of 247.19 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the right having a radius of 603.00 feet, a central angle of 32°28'53",
and a chord bearing and distance of North 16°05'29" West 337.29 feet;
THENCE with said reverse curve to the right an arc distance of 341.84 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE North 00°08'58" East a distance of 257.44 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a curve to the
right having a radius of 783.00 feet, a central angle of 19°59'11", and a chord bearing and
distance of North 10°08'33" East 271.75 feet;
THENCE with said curve to the right an arc distance of 273.13 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse curvature
of a curve to the left having a radius of 517.00 feet, a central angle of 18°34'00", and a chord
bearing and distance of North 10°51'08" East 116.80 feet;
THENCE with said reverse curve to the left an arc distance of 167.53 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the right having a radius of 193.00 feet, a central angle of 44°10'32",
and a chord bearing and distance of North 23°39'24" East 145.15 feet;
THENCE with said reverse curve to the right an arc distance of 148.81 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the beginning of a non-
tangent curve to the left having a radius of 1598.00 feet, a central angle of 08°48'07", and a
chord bearing and distance of North 02°46'35" East 245.25 feet;
THENCE with said non-tangent curve to the left an arc distance of 245.49 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
tangency;
THENCE North 01°37'29"West a distance of 132.96 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a curve to the
left having a radius of 3154.50 feet, a central angle of 00°41'44", and a chord bearing and
distance of North 01°58'20" West 38.29 feet;
THENCE with said curve to the left an arc distance of 38.29 feet to a 5/8 inch iron rod with a
yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a curve
to the left having a radius of 1037.00 feet, a central angle of 02°09'38", and a chord bearing
and distance of South 81°42'27" West 39.10 feet;
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THENCE with said curve to the left an arc distance of 39.10 feet to a 5/8 inch iron rod with a
yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the end of curve;
THENCE North 06°10'02"West a distance of 108.52 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE North 83°49'58" East a distance of 14.46 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE North 39°59'42" East a distance of 82.30 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the beginning of a non-tangent curve to
the left having a radius of 3182.50 feet, a central angle of 00°29'37", and a chord bearing and
distance of North 05°33'27" West 27.41 feet;
THENCE with said non-tangent curve to the left an arc distance of 27.41 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the end of curve;
THENCE North 84°11'45" East a distance of 152.50 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the beginning of a non-tangent curve to
the right having a radius of 3335.00 feet, a central angle of 03°47'41", and a chord bearing
and distance of South 03°54'25" East 220.83 feet;
THENCE with said non-tangent curve to the right an arc distance of 220.87 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the beginning of a
non-tangent curve to the right having a radius of 15.50 feet, a central angle of 25°36'41", and
a chord bearing and distance of South 14°36'10" East 6.87 feet;
THENCE with said non-tangent curve to the right an arc distance of 6.93 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of
tangency;
THENCE South 01°47'49" East a distance of 17.00 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a curve to the
right having a radius of 15.50 feet, a central angle of 25°45'03", and a chord bearing and
distance of South 11°04'42" West 6.91 feet;
THENCE with said curve to the right an arc distance of 6.97 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the end of curve;
THENCE South 01°37'29" East a distance of 1823.60 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of curvature of a curve to the
left having a radius of 1017.50 feet, a central angle of 17°33'02", and a chord bearing and
distance of South 10°23'59" East 310.46 feet;
THENCE with said curve to the left an arc distance of 311.67 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the end of curve;
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1920.010\58189.10
THENCE South 70°49'30" West a distance of 0.50 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the beginning of a non-tangent curve to
the left having a radius of 1018.00 feet,a central angle of 06°58'24", and a chord bearing and
distance of South 22°39'42" East 123.82 feet;
THENCE with said curve to the left an arc distance of 123.90 feet to a 5/8 inch iron rod with
a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE South 26°08'54" East a distance of 331.47 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE North 63°51'06" East a distance of 115.61 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE South 73°20'50" East a distance of 36.77 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE South 28°20'50" East a distance of 703.92 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE South 16°39'10"West a distance of 135.76 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE South 28°26'20" East a distance of 116.36 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE South 26°08'54" East a distance of 379.60 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE South 71°08'54" East a distance of 64.62 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE South 26°08'54" East a distance of 247.14 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the beginning of a non-tangent curve to
the right having a radius of 127.00 feet, a central angle of 106°07'38", and a chord bearing
and distance of South 24°03'48" East 203.02 feet;
THENCE with said non-tangent curve to the right an arc distance of 235.24 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped"DUNAWAY ASSOC.LP"set for the point of reverse
curvature of a curve to the left having a radius of 233.00 feet, a central angle of 56°37'31",
and a chord bearing and distance of South 00°41'16"West 221.02 feet;
THENCE with said reverse curve to the left an arc distance of 230.27 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the right having a radius of 307.00 feet, a central angle of 60°52'48",
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1920.010\58189.10
and a chord bearing and distance of South 02°48'54" West 311.07 feet;
THENCE with said reverse curve to the right an arc distance of 326.20 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the left having a radius of 268.00 feet, a central angle of 69°51'02",
and a chord bearing and distance of South 01°40'13" East 306.86 feet;
THENCE with said reverse curve to the left an arc distance of 326.72 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the right having a radius of 257.00 feet, a central angle of 43°41'19",
and a chord bearing and distance of South 14°45'05" East 191.25 feet;
THENCE with said reverse curve to the right an arc distance of 195.96 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the left having a radius of 273.00 feet, a central angle of 56°29'27",
and a chord bearing and distance of South 21°09'09" East 258.39 feet;
THENCE with said reverse curve to the left an arc distance of 269.17 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the right having a radius of 377.00 feet, a central angle of 66°03'23",
and a chord bearing and distance of South 16°22'11" East 410.97 feet;
THENCE with said reverse curve to the right an arc distance of 434.64 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the left having a radius of 253.00 feet, a central angle of 81°13'26",
and a chord bearing and distance of South 23°57'13" East 329.37 feet;
THENCE with said reverse curve to the left an arc distance of 358.66 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the right having a radius of 257.00 feet, a central angle of 64°38'14",
and a chord bearing and distance of South 32°14'49" East 274.80 feet;
THENCE with said reverse curve to the right an arc distance of 289.93 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the left having a radius of 193.00 feet, a central angle of 21°16'50",
and a chord bearing and distance of South 10°34'06" East 71.27 feet;
THENCE with said reverse curve to the left an arc distance of 71.68 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the right having a radius of 107.00 feet, a central angle of 66°15'56",
and a chord bearing and distance of South 11°55'27" West 116.97 feet;
THENCE with said reverse curve to the right an arc distance of 123.75 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of tangency;
THENCE South 45°03'24" West a distance of 10.88 feet to a 5/8 inch iron rod with a yellow
85
1920.010\58189.10
plastic cap stamped "DUNAWAY ASSOC. LP" set for the beginning of a non-tangent curve to
the left having a radius of 138.00 feet, a central angle of 28°07'19", and a chord bearing and
distance of South 61°29'46" East 67.06 feet;
THENCE with said non-tangent curve to the left an arc distance of 67.73 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the end of curve;
THENCE North 88°48'51" East a distance of 48.15 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE South 01°53'58" East a distance of 122.00 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the beginning of a non-tangent curve to
the right having a radius of 2055.00 feet, a central angle of 04°06'49", and a chord bearing
and distance of North 89°50'33" West 147.51 feet;
THENCE with said non-tangent curve to the right distance of 147.54 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the end of curve;
THENCE South 48°03'01" West a distance of 28.56 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE South 03°36'26" West a distance of 13.81 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE North 86°23'34" West a distance of 87.00 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE North 03°36'26" East a distance of 2.38 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set;
THENCE North 40°27'49" West a distance of 28.74 feet to a 5/8 inch iron rod with a yellow
plastic cap stamped "DUNAWAY ASSOC. LP" set for the beginning of a non-tangent curve to
the right having a radius of 2067.00 feet, a central angle of 00°02'39", and a chord bearing
and distance of North 84°14'06" West 1.59 feet;
THENCE with said non-tangent curve to the right an arc distance of 1.59 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the beginning of a
non-tangent curve to the left having a radius of 119.00 feet,a central angle of 22°22'37",and
a chord bearing and distance of South 79°49'37" West 46.18 feet;
THENCE with said non-tangent curve to the left an arc distance of 46.48 feet to a 5/8 inch
iron rod with a yellow plastic cap stamped"DUNAWAY ASSOC.LP"set for the point of reverse
curvature of a curve to the right having a radius of 157.00 feet, a central angle of 23°32'18",
and a chord bearing and distance of South 80°24'28" West 64.05 feet;
THENCE with said reverse curve to the right an arc distance of 64.50 feet to a 5/8 inch iron
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1920.010\58189.10
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the left having a radius of 93.00 feet, a central angle of 78°12'12", and
a chord bearing and distance of South 53°04'31" West 117.31 feet;
THENCE with said reverse curve to the left an arc distance of 126.94 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the right having a radius of 132.00 feet, a central angle of 48°43'44",
and a chord bearing and distance of South 38°20'17" West 108.91 feet;
THENCE with said reverse curve to the right an arc distance of 112.26 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the left having a radius of 268.00 feet, a central angle of 84°38'01",
and a chord bearing and distance of South 20°23'08" West 360.85 feet;
THENCE with said reverse curve to the left an arc distance of 395.87 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the right having a radius of 257.00 feet, a central angle of 38°58'12",
and a chord bearing and distance of South 02°26'46" East 171.45 feet;
THENCE with said reverse curve to the right an arc distance of 174.80 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the left having a radius of 168.00 feet, a central angle of 47°18'47",
and a chord bearing and distance of South 06°37'04" East 134.81 feet;
THENCE with said reverse curve to the left an arc distance of 138.73 feet to a 5/8 inch iron
rod with a yellow plastic cap stamped "DUNAWAY ASSOC. LP" set for the point of reverse
curvature of a curve to the right having a radius of 106.00 feet, a central angle of 14°17'17",
and a chord bearing and distance of South 23°07'49" East 26.37 feet;
THENCE with said reverse curve to the right an arc distance of 26.43 feet to the POINT OF
BEGINNING.
Containing a computed area of 4,058,831 square feet or 93.178 acres of land.
SAVE AND EXCEPT (AISD School Site)
BEING situated in the International& Great Northern R.R. Co. Survey, Abstract No. 1996,
Parker County, Texas, and being a portion of a tract of land as described in deed to Walsh
Ranches Limited Partnership, a Texas Limited Partnership having a General Partner named
Walsh North Star Company, a Texas corporation as recorded in Volume 1699, Page 1765 of
the Deed Records of Parker County,Texas (D.R.P.C.T.),and being more particularly described
as follows:
COMMENCING at a 5/8 inch iron rod found with cap stamped "DUNAWAY ASSOC. LP" at the
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1920.010\58189.10
northwest corner of the intersection of the westerly right of way line of southbound Walsh
Ranch Parkway(a variable width right of way) and the northerly right of way line of Walsh
Creek
Boulevard,as shown on the final plat of Walsh Ranch Parkway,an addition to the City of Fort
Worth, Parker County, Texas, (unrecorded as of this date);
THENCE, along the westerly right of way line of said southbound Walsh Ranch Parkway the
following courses:
North 87 degrees 36 minutes 03 seconds East, a distance of 13.60 feet to a 5/8 inch
iron rod found with cap stamped "DUNAWAY ASSOC. LP", and being the beginning of
a curve to the left having a central angle of 85 degrees 58 minutes 45 seconds,a radius
of 110.00 feet, subtended by a 150.01 foot chord which bears North 44 degrees 36
minutes 40 seconds East;
Along said curve to the left an arc distance of 165.07 feet to a 5/8 inch iron rod found
with cap stamped "DUNAWAY ASSOC. LP";
North 01 degrees 37 minutes 18 seconds East, a distance of 141.88 feet to a 5/8 inch
iron rod found with cap stamped "DUNAWAY ASSOC. LP", and being the beginning of
a curve to the right having a central angle of 04 degrees 23 minutes 39 seconds, a
radius of 612.00 feet, subtended by a 46.92 foot chord which bears North 03 degrees
49 minutes 07 seconds East;
Along said curve to the right an arc distance of 46.94 feet to a 5/8 inch iron rod found
with cap stamped"DUNAWAY ASSOC. LP",and being the beginning of a reverse curve
to the left having a central angle of 08 degrees 10 minutes 18 seconds, a radius of
988.00 feet, subtended by a 140.79 foot chord which bears North 01 degrees 18
minutes 56 seconds West;
Along said curve to the left an arc distance of 140.91 feet to a 5/8 inch iron rod found
with cap stamped "DUNAWAY ASSOC. LP", and being the beginning of a compound
curve to the left having a central angle of 03 degrees 21 minutes 56 seconds, a radius
of 1018.00 feet, subtended by a 59.79 foot chord which bears North 10 degrees 40
minutes 28 seconds West;
Along said curve to the left an arc distance of 59.80 feet to a 5/8 inch iron rod found
with cap stamped "DUNAWAY ASSOC. LP" at the south corner of Private Open Space
Lot 7X, as shown on said final plat of Walsh Ranch Parkway;
THENCE, departing the westerly line of said southbound Walsh Ranch Parkway, and along
the westerly line of said Private Open Space Lot 7X the following courses:
North 65 degrees 20 minutes 07 seconds West, a distance of 199.81 feet to a 5/8 inch
iron rod found with cap stamped "DUNAWAY ASSOC. LP";
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1920.010\58189.10
North 24 degrees 04 minutes 08 seconds West, a distance of 651.54 feet to a 5/8 inch
iron rod found with cap stamped "DUNAWAY ASSOC. LP", and being the beginning of
a curve to the right having a central angle of 35 degrees 28 minutes 59 seconds, a
radius of 100.00 feet, subtended by a 60.94 foot chord which bears North 06 degrees
19 minutes 38 seconds West;
Along said curve to the right an arc distance of 61.93 feet to a 5/8 inch iron rod found
with cap stamped"DUNAWAY ASSOC. LP",and being the beginning of a reverse curve
to the left having a central angle of 24 degrees 05 minutes 05 seconds, a radius of
200.00 feet, subtended by a 83.45 foot chord which bears North 00 degrees 37
minutes 41 seconds West;
Along said curve to the left an arc distance of 84.07 feet to a 5/8 inch iron rod found
with cap stamped"DUNAWAY ASSOC. LP",and being the beginning of a reverse curve
to the right having a central angle of 24 degrees 51 minutes 04 seconds, a radius of
193.00 feet, subtended by a 83.06 foot chord which bears North 00 degrees 14
minutes 42 seconds West;
Along said curve to the right an arc distance of 83.71 feet to a 5/8 inch iron rod found
with cap stamped"DUNAWAY ASSOC. LP",and being the beginning of a reverse curve
to the left having a central angle of 43 degrees 22 minutes 47 seconds, a radius of
127.00 feet, subtended by a 93.87 foot chord which bears North 09 degrees 30
minutes 34 seconds West;
Along said curve to the left an arc distance of 96.15 feet to a 5/8 inch iron rod found
with cap stamped"DUNAWAY ASSOC. LP",and being the beginning of a reverse curve
to the right having a central angle of 23 degrees 50 minutes 05 seconds, a radius of
453.00 feet, subtended by a 187.09 foot chord which bears North 19 degrees 16
minutes 55 seconds West;
Along said curve to the right an arc distance of 188.45 feet to a 5/8 inch iron rod set
with plastic cap stamped "Huitt-Zollars";
THENCE, South 82 degrees 00 minutes 00 seconds West, departing the westerly line of
Private
Open Space Lot 7X, a distance of 205.63 feet to a 5/8 inch iron rod set with plastic cap
stamped"Huitt-Zollars",and being the beginning of a curve to the right having a central angle
of 12 degrees 20 minutes 32 seconds, a radius of 1053.00 feet, subtended by a 226.39 foot
chord which bears North 88 degrees 10 minutes 16 seconds West;
THENCE, along said curve to the right an arc distance of 226.83 feet to a 5/8 inch iron rod
set with plastic cap stamped "Huitt-Zollars";
THENCE, North 04 degrees 20 minutes 32 seconds East, a distance of 3.00 feet to a 5/8 inch
iron rod set with plastic cap stamped "Huitt-Zollars", and being the beginning of a non-
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1920.010\58189.10
tangent curve to the right having a central angle of 8 degrees 00 minutes 48 seconds,a radius
of 1050.00 feet, subtended by a 146.73 foot chord which bears North 81 degrees 39 minutes
04 seconds West;
THENCE, along said curve to the right an arc distance of 146.85 feet to a 5/8 inch iron rod
set with plastic cap stamped "Huitt-Zollars";
THENCE, South 12 degrees 21 minutes 20 seconds West, a distance of 3.00 feet to a 5/8 inch
iron rod set with plastic cap stamped "Huitt-Zollars", and being the beginning of a non-
tangent curve to the right having a central angle of 9 degrees 38 minutes 40 seconds,a radius
of 1053.00 feet, subtended by a 177.04 foot chord which bears North 72 degrees 49 minutes
20 seconds West;
THENCE, along said curve to the right an arc distance of 177.25 feet to a 5/8 inch iron rod
set with plastic cap stamped "Huitt-Zollars";
THENCE, North 68 degrees 00 minutes 00 seconds West, a distance of 355.64 feet to a 5/8
inch iron rod set with plastic cap stamped"Huitt-Zollars",and being the beginning of a curve
to the left having a central angle of 47 degrees 19 minutes 24 seconds, a radius of 867.00
feet, subtended by a 695.91 foot chord which bears South 88 degrees 20 minutes 18
seconds West;
THENCE, along said curve to the left an arc distance of 716.10 feet to a 5/8 inch iron rod set
with plastic cap stamped "Huitt-Zollars", and being the beginning of a reverse curve to the
right having a central angle of 24 degrees 50 minutes 45 seconds, a radius of 1553.00 feet,
subtended by a 668.18 foot chord which bears South 77 degrees O5 minutes 59 seconds
West;
THENCE, along said curve to the right an arc distance of 673.44 feet to a 5/8 inch iron rod
set with plastic cap stamped "Huitt-Zollars";
THENCE, South 46 degrees 00 minutes 26 seconds West, a distance of 21.66 feet to a 5/8
inch iron rod set with plastic cap stamped "Huitt-Zollars", and being the beginning of a non-
tangent curve to the right having a central angle of 49 degrees 33 minutes 56 seconds, a
radius of 180.00 feet, subtended by a 150.90 foot chord which bears South 29 degrees 23
minutes 10 seconds West;
THENCE, along said curve to the right an arc distance of 155.72 feet to a 5/8 inch iron rod
set with plastic cap stamped "Huitt-Zollars", and being the beginning of a reverse curve to
the left having a central angle of 53 degrees 12 minutes 42 seconds, a radius of 213.00 feet,
subtended by a 190.78 foot chord which bears South 27 degrees 33 minutes 47 seconds
West;
THENCE, along said curve to the left an arc distance of 197.82 feet to a 5/8 inch iron rod set
with plastic cap stamped "Huitt-Zollars";
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1920.010\58189.10
THENCE, North 89 degrees 02 minutes 34 seconds West, a distance of 60.00 feet to a 5/8
inch iron rod set with plastic cap stamped "Huitt-Zollars" for the POINT OF BEGINNING;
THENCE, South 84 degrees 40 minutes 28 seconds West, a distance of 624.92 feet to a 5/8
inch iron rod set with plastic cap stamped "Huitt-Zollars";
THENCE, North 81 degrees 01 minutes 12 seconds West, a distance of 547.98 feet to a 5/8
inch iron rod set with plastic cap stamped "Huitt-Zollars";
THENCE, North 00 degrees 51 minutes 28 seconds West,a distance of 567.71 feet to a 5/8
inch iron rod set with plastic cap stamped "Huitt-Zollars", and being the beginning of a
non-tangent curve to the right having a central angle of 33 degrees 28 minutes 50 seconds,
a radius of 1247.00 feet, subtended by a 718.36 foot chord which bears South 80 degrees
25 minutes 09 seconds East;
THENCE, along said curve to the right an arc distance of 728.68 feet to a 5/8 inch iron rod
set with plastic cap stamped "Huitt-Zollars", and being the beginning of a reverse curve to
the left having a central angle of 23 degrees 28 minutes 38 seconds, a radius of 1553.00 feet,
subtended by a 631.91 foot chord which bears South 75 degrees 25 minutes 03 seconds East;
THENCE, along said curve to the left an arc distance of 636.35 feet to a 5/8 inch iron rod set
with plastic cap stamped "Huitt-Zollars";
THENCE, South 42 degrees 21 minutes 01 seconds East,a distance of 21.18 feet to a 5/8 inch
iron rod set with plastic cap stamped "Huitt-Zollars", and being the beginning of a non-
tangent curve to the right having a central angle of 47 degrees 51 minutes 12 seconds, a
radius of 120.00 feet, subtended by a 97.34 foot chord which bears South 30 degrees 14
minutes 32 seconds West;
THENCE, along said curve to the right an arc distance of 100.22 feet to a 5/8 inch iron rod
set with plastic cap stamped "Huitt-Zollars", and being the beginning of a reverse curve to
the left having a central angle of 53 degrees 12 minutes 42 seconds, a radius of 273.00 feet,
subtended by a 244.53 foot chord which bears South 27 degrees 33 minutes 47 seconds
West;
THENCE, along said curve to the left an arc distance of 253.54 feet to the POINT OF
BEGINNING and CONTAINING 14.51 acres of land, more or less.
SAVE AND EXCEPT (Quail Valley Lemons Overlap)
Being a 0.4130 acre tract of land situated in the International&Great Northern RR Co Survey,
Abstract Number 2004, Parker County, Texas and being part of a tract of land described in
deed to Walsh Ranches Limited Partnership, as recorded in Volume 1699, Page 1765, Deed
Records, Parker County, Texas (D.R.P.C.T), as previously described in deed recorded in
91
1920.010\58189.10
Volume 237, Page S62, D.R.P.C.T., and recorded in Volume 12624, Page 92, Deed Records,
Tarrant County, Texas (D.R.T.C.T), said tract also being a part of a tract of land described in
deed to Keith D. Lemons and Pamela J. Lemons, as recorded in Volume 1SS2, Page 1381,
D.R.P.C.T., said 0.4130 acre tract of land being more particularly described as follows:
BEGINNING at stone found for an ell corner of said Walsh Ranches Limited Partnership tract,
said corner being on the south line of said Lemons tract;
THENCE South 87 degrees 24 minutes 33 seconds West, along the south line of said Lemons
tract, a distance of 988.78 feet to a S/8 inch iron rod found for the southwest corner of said
Lemons tract and the southeast corner of a tract of land described in deed to John and Stacy
Reding, as recorded in Instrument Number 201412020, D.R.P.C.T.,
THENCE North 40 degrees 08 minutes 24 seconds West, along the west line of said Lemons
tract and the east line of said Reding tract, a distance of 45.90 feet to a point for corner on
the north line of said Walsh Ranches Limited Partnership tract, from which an ell corner of
said Walsh Ranches Limited Partnership tract and a point on the west line of said Reding
tract bears South 89 degrees 27 minutes 32 seconds West, a distance of 2512.74 feet;
THENCE North 89 degrees 27 minutes 32 seconds East, along said Walsh Ranches Limited
Partnership tract, a distance of 1017.41 feet to the POINT OF BEGINNING and containing
17,989 square feet or 0.4130 acres of land more or less.
SAVE AND EXCEPT (Quail Valley Reding Overlap)
Being a 4.8368 acre tract of land situated in the International&Great Northern RR Co Survey,
Abstract Number 2004, Parker County, Texas and being part of a tract of land described in
deed to Walsh Ranches Limited Partnership, as recorded in Volume 1699, Page 1765, Deed
Records, Parker County, Texas (D.R.P.C.T), as previously described in deed recorded in
Volume 237, Page S62, D.R.P.C.T., and recorded in Volume 12624, Page 92, Deed Records,
Tarrant County, Texas (D.R.T.C.T), said tract also being a part of a tract of land described in
deed to John and Stacy Reding, as recorded in Instrument Number 201412020, D.R.P.C.T.,
said 4.8368 acre tract of land being more particularly described as follows:
BEGINNING at stone found for an ell corner of said Walsh Ranches Limited Partnership tract,
said corner being on the west line of said Reding tract;
THENCE North 89 degrees 27 minutes 32 seconds East, along said Walsh Ranches Limited
Partnership tract, a distance of 2512.74 feet to a point for corner from which a stone found
for an ell corner of said Walsh Ranches Limited Partnership tract bears North 89 degrees 27
minutes 32 seconds East,a distance of 1017.41 feet, said corner being on the east line of said
Reding tract and the west line of a tract of land described in deed to Keith D. Lemons and
Pamela J. Lemons, as recorded in Volume 1SS2, Page 1381, D.R.P.C.T.;
92
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THENCE South 40 degrees 08 minutes 24 seconds East, along the east line of said Reding
tract and the west line of said Lemons tract, a distance of 45.90 feet to a 5/8 inch iron rod
found for the southeast corner of said Reding tract and the southwest corner of said Lemons
tract;
THENCE South 87 degrees 18 minutes 27 seconds West, along the south line of said Reding
tract, a distance of 2542.86 feet to a 1/2 inch iron rod found for the southwest corner of said
Reding tract;
THENCE North 00 degrees 56 minutes 45 seconds West, along the west line of said Reding
tract, a distance of 130.83 feet to the POINT OF BEGINNING and containing 210,690 square
feet or 4.8368 acres of land more or less.
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