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HomeMy WebLinkAboutContract 41894 (2)STATE OF TEXAS COUNTY OF TEXAS CITY SECRETARY CONTRACT NO `'i t WHEREAS, the City of Fort Worth ("City") has incorporated a "Street Proportionality Study" (the "SPS") which describes the impact of development to the City's roadway infrastructure; and WHEREAS, the SPS includes the development of Montbeliard Parkway from Canchim Drive (Phase 1) northerly to future Bailey Boswell Road from Station 19+47 to Station 43+58 for a distance of approximately two thousand four hundred and eleven (2,411) feet, (said roadway therewith being referred to herein as the "Improvements"); and WHEREAS, the City's Policy for Installation of Community Facilities requires Owners of property abutting proposed city roadways to construct or, upon request of an Owner, contribute a portion of the construction costs; and WHEREAS, Pulte Homes of Texas, L P. a Texas corporation ("Owner"), is the owner of 'Nest Fork Ranch, Blocks 30-3 i , 39-42, 75 (the "Properly"), a parcel of property consisting of approximately 71.87 acres and bordering the Improvements; and WHEREAS, Owner has requested that City rather than fwnPr r--nnstri Int th -, than av W v • • CY . V V • . \ !!• !y L !. • • G1 Improvements and City has agreed, subject to the terms of this Agreement; NOW THEREFORE, City and Owner, acting herein by and through their duly authorized representatives, enter into the following agreement: 1. The City may construct (or cause to be constructed) the Improvements provided public funds are available, abutting properties develop, or construction is found to be necessary by the Director of Transportation and Public Works. 2. Owner has paid to the City the sum of Thirty-eight thousand five hundred seventy-six dollars and zero cents ($38,576.00), such amount being hereinafter referred to as the "Escrow", which Owner and City agree is the entire amount of Owner's contribution for the cost to construct the Improvements. By providing the Escrow, Owner agrees: (a) this payment to the City is an assessment contemplated under Chapter 313 of the Texas TransportatioCle; and West Fork Ranch - Sidewalks CFA /1201 1-006 03/10/11 roFFICIAI. RECORD ©I'fY SECRETARY t WORTh, TMI (b) the amount of special benefit and enhanced value to Owner's property resulting from construction of the Improvements is equal to or greater than the amount of the Escrow, and (c) to waive the rights granted to Owner in Chapter 313 of the Texas Transportation Code to contest or appeal the assessment. By accepting the Escrow and by execution of this contract, City agrees that the Owner and any successor owner of all or part of the Property will have no obligation whatsoever to pay any amounts in addition to the Escrow or take any further action with regard to the construction of the Improvements, even if (a) the actual costs to construct the Improvements exceed the costs expected by the City as of the date of this contract, (b) the specifications, composition, or other characteristics of the Improvements hereafter change for any reason, (c) a mistake has been made (mutual or unilateral) in computing the costs of the Improvements or otherwise, or (d) the costs or scope of the Improvements change for any reason. 3 Owner and City agree that the terms of this agreement eliminate the need for a public hearing and issuance of notices as required by Tex. Transp. Code Ann. §§313.047-313.048 (Vernon Supp 1998). 4 This agreement shall be binding upon and inure to the benefit of the City and Owner and their respective successors and assigns. 5. Owner is in the process of developing the Property. Owner has deposited the Escrow with the City for the future Improvements, such Improvements being necessitated in part by the additional demands that the development of the Property will be placing upon Montbeliard Parkway and being roughly proportionate to the impact of the proposed development along said roadways and fairly represents the Owner's proportional share of the cost of the improvements to Montbeliard Parkway. Should any claim be raised by Owner or Owner's successors -in -interest or assigns that the Escrow provided for herein is not proportional to the impacts of the development pursuant to Tex. Loc. Gov't Code sec. 212 904, successor -statute or any constitutional provision, Owner expressly agrees that the City Council and any reviewing court may rely upon the statements in this Agreement in considering relief under such claim. Owner further waives any claim that Owner's contribution in Escrow provided by this Agreement constitutes an unauthorized impact fee pursuant to Tex. Loc. Gov't Code chapter 395. West Fork Ranch - Sidewalks CFA #2011-006 03/10/11 Executed on this ATTEST: day of , 20(cl CITY OF FORT WORTH 1---Y,(G/L /V\ By: MartyCity Secretary 0 Hendr �' �° �Qo� � o o ,,�� Fernando Costa , Assistant City Manager a a 0 Ogg g Z ri ri 0 % o� APPROVED AS TO FOR °� 4° 'd OWNER: �? da,�nop� .� Pulte Homes of Texas, L.P. N*4-b rex Aktsr#4*0 R Marcia Wise Deputy City Attorney 3&wr& Mow,' a By its General Partner Pulte Nevada I, LLC By: Title: ., fir• t».t 0/ Led 4-* w,..t TRANSPORTATION AND PUBLIC WORKS DEPARTMENT By: Douglas W. Wiersig, P.E. Director West Fork Ranch - Sidewalks CFA #2011-006 03/ 10/ 11 O M&C REQUIRED z OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX STATE OF TEXAS � COUNTY OF TARRANT § BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas, on this day personally appeared Fernando Costa, assistant city manager for the City of Fort Worth, known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that the same was the act of the City of Fort Worth and that he executed the same as the act of said City of Fort Worth for the purposes and consideration therein expressed and in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE , 20 . STATE OF TEXAS EVON►! DANIELS MY COMMISSION EXPIRES July 10, 20 COUNTY OF TARRANT this /6f Notary Public, State of Texas My Commission expires: 7,/o, /3 day BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas, on this day personally appeared C�jrn Viflctjl 1' known to me to be the persons whose name is subscribed to the foregoing instrument, and acknowledged to that he executed the same for the purposes and consideration therein expressed. GIVEN UNDER MY HAND AND SEAL OF OFFICE this \LJTh day of maycit\ , Zo . West Fork Ranch - Sidewalks CFA 112011-006 03/ 10/ 1 1 UZ GOOLQ Notary Public, Slate of Texas My Commission Expires July 24, 2014 OFFICIAL RECORD CITY SECRETARY FT; WORTH, IX Notary (PJublic, State of Texas My Commi sion expires: r)ul�vi, WV4 Check items associated with the project being undertaken; checked items must be included as Attachments to this Agreement Included p< p< n n n n Attachment Location Map Exhibit A: Legal Property Description Exhibit B: Paving Improvements Paving Estimate Exhibit B-1: Storm Drain Improvements Storm Drain Estimate Exhibit C: Street Lights and Signs Improvements Street Lights and Signs Estimate (Remainder of Page Intentionally Left Blank) West Fork Ranch - Sidewalks CFA #2011-006 03/10/11 PELOTON LAND SOLUTIONS, LLLP 5751 KROGER DRIVE, SUITE 185 KELLER TEXAS 76244 817-562-3350 SIDEWALK ESCROW ESTIMATE FOR: PARR TRUST ADDITION WEST FORK RANCH PHASE 1 2/9/2011 ESCROW ESTIMATE DEVELOPER REQUIRED SIDEWALK ALONG MONTBELIARD PARKWAY FROM CANCHIM DRIVE (PHASE 1) NORTHERLY TO FUTURE BAILEY BOSWELL ROAD FROM STATION 19+47 TO STATION 43+58 FOR A TOTAL OF 2,411 LINEAR FEET DESCRIPTION UNIT QTY UNIT PRICE TOTAL 1 4' 4' Conc. Sidewalk LF 2,411 16.00 38,576 00 TOTAL SIDEWALK $38,576.00 c CFA-SidewalkEscrow, Phasel 1 of 1 3/21/2011 I LEGEND 1 SIDEWALK BY I NAMES p' D DEVELOPER pv��Eyp ,gy• I ESCROW oFleTVR 1 FPNPS� n w i Q J QI • 1 CO = J_ZwiH 1 , w 1 1 �00�x GELBRAY PLACE i> il o<-1a o I _ _ o ,O iEn , m z I I I STREET= j a i L.,- , - _CANCH.M _ _ - - - - ) - - - .. ! - i- I I I _ I 1 w Q! _ i i 5 ;i i I tEPPj BrRRENDA DRIVE WAY j i 1 1 _. I L _ _ _-- _ - I - - - - - - - �_-% _1 - - - a'';I - - z 1 - I I U I S5) 1 pR9PR�X Q I I I Kt IJJ 1 I ANGONI COURT J B OGK35 i \ - I I .I O, � f I1 •! Y i" 11 AR -j--r i ,C -- i n 1 E LANE j tL. \'C RNE B .t 1 ��No \s - _ - _ _ PHASE I p I pR • J \ x\ 1 ; m EN�N g�0 i \ ' N v N 11 r 1 I I \ TER i I Q pR.09 �� \\ APO \ • r - \ \'` \ \G� yC36 6X\NN\ 1 1 S • • \ \ r II, t. K j5'• \\ \ \\N�\ '1 7 spell` p \ \',�. e\oG \ 0 ` L_ CIA J \ m. ) \\' � m R \\I folk/ \I \ , \ \ of ( I I +Il , •‘/ . `\� ice--® \ \---� fit �_-',� •�• FV�`�RE - -n ��• - - - R'o - pNPs :%-0o BOULEVARD �-,' III s��'S�° SIDEWALK ESCROW ; ,, _[H8 ENGINEER• OWNER / DEVELOPER WEST FORK I'!i PELOTON PULTE HOMES NORTH 0 300' �� ,,7 1234 �1 antic COPPELL, PHONE: LAKESHORE SUITE TEXAS 972-304-2800 DRIVE 750A 75019 pill 5751 LAND SOLUTIONS KROGER DRIVE SUITE 185 KELLER, TX 76244 FAX: 972-304-2801 PHONE: 817-562-3350 GRAPHIC SCALE PHASE 1 SHEET 1 OF 2 LEGEND ME SIDEWALK BY IIc _ _ _ _ - - - - - _ D DEVELOPER - - T T ESCROW y 1 1 �MPRO N�SP- 1 7O�U'. EEC . StR ., 2 I 1 I 1 1 1 1 ! i i 1 . 1 1 I 1 PV of -Ce5 FPNPSE URE s LP. 1 i ; j O i . - \�, 5 -� • -, , o it .,♦ e- �SE Hones LPi 1 m♦ .`• • '\ ♦7 ' K pF F _I vSE PV-CE OF FNuE ONES k-P' RB G '� w O '\, ., "‘ �. ��,, e �9 ‘ +r `♦,� OCle *PAs SIDEWALK ESCROW \ ,\ �� LL M ♦c 1 ) r', r; t' ■ ■ ■ ■ ■ ■ 1 OWNER / DEVELOPER: ENGINEER: WEST FORK 99111 IJ PULTE HOMES PELOTON NORTH 0 300' A 1234 LAKESHORE DRIVE 1111 inane/ SUITE 750A 5751 COPPELL, TEXAS 75019 PHONE: 972-304-2800 KELLER, LAND SOLUTIONS KROGER DRIVE SUITE 185 TX 76244 FAX 972-304-2801 PHONE:817-562-3350 GRAPHIC SCALE PHASE 1 SHEET 2 OF 2 LEGAL DESCRIPTION BEING a tract of land situated in the Milly Gilbert Survey, Abstract Number 565, Tarrant County, Texas, and being a portion of those tracts of land described by deed to Pulte Homes of Texas, L P , as recorded in County Clerk's filing number D210282641 and D210282642, County Records, Tarrant County, Texas, and being more particularly described metes and bounds as follows: BEGINNING at a 5/8" iron rod with a yellow cap stamped "Peloton' found for the southeast corner of said Pulte Tract (D210282641) and the southwest corner of Basswood Village Phase I, as recorded in Cabinet A, Slide 9403, Plat Records, Tarrant County, Texas, and being in the centerline of existing Basswood Boulevard; THENCE S 88° 59'05" W, 449.73 feet along the south property line of said Pulte Tract (D210282641) to a 5/8' iron rod with a yellow cap stamped "Peloton" set, the beginning of a curve to the left; THENCE 568.57 feet, along the arc of said curve, through a central angle of 31 ° 19' 24" ,whose radius is 1040.00 feet, and the long chord which bears S 73°19'23" W, 561.51 feet along the south property line of said Pulte Tract (D210282641) to a 5/8' iron rod with a yellow cap stamped "Peloton" set THENCE S 57°39'40" W, 30.48 feet along the south property line of said Pulte Tract (D210282641) to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE N 27°59'28" W, 225.95 feet leaving said south property line to a 5/8" iron rod with a yellow cap stamped "Peloton" set, the beginning of a curve to the right; THENCE 19.96 feet, along the arc of said curve, through a central angle of 57°11'05",whose radius is 20.00 feet, and the long chord which bears S 73°11'06' E, 19.14 feet to a 5/8" iron rod with a yellow cap stamped Peloton" set, the beginning of a curve to the left; THENCE 140.03 feet, along the arc of said curve through a central angle of 160°27'47" ,whose radius is 50.00 feet and the long chord which bears N 55° 10' 33" E, 98.55 feet to a 5/8 ' iron rod with a yellow cap stamped ` Peloton" set; THENCE N 25°03'20" W, 19.58 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set, the beginning of a curve to the left; THENCE 53.03 feet, along the arc of said curve, through a central angle of 02°56'07" ,whose radius is 1035.00 feet, and the long chord which bears N 26°31'24" W, 53.02 feet to a 5/8" iron rod with a yellow cap stamped "Peloton ' set; THENCE N 27°59'28" W, 105.00 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 62°00'32" W, 355.00 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE N 27°59'28" W, 75.50 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 62°00'32" W, 304.91 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; Peloton Land Solutions March 23, 2011 G:\Job\10-PLT001-Rancho Santa Fe North\Sur\Legal\10-PLT001_PA1_Phasel.docx 1 THENCE N 26°52'00" W, 538.09 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE N 72°47' 12" W, 677.64 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE N 00°15'47" W, 267.66 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE N 88°20'48" E, 1295.32 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE N O 1 °47' 12" W, 1644.92 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set, the beginning of a curve to the left; THENCE 512.13 feet, along the arc of said curve, through a central angle of 28°04'46" ,whose radius is 1045 00 feet, and the long chord which bears N 15°49'35' W, 507.02 feet to a 5/8" iron rod with a yellow cap stamped "Peloton ' set; THENCE N 29°51'58" W, 727.53 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set, the beginning of a curve to the right; THENCE 148.33 feet, along the arc of said curve, through a central angle of 06°51' 13" ,whose radius is 1240.00 feet, and the long chord which bears N 26°26'22' W, 148.24 feet to a 5/8' iron rod with a yellow cap stamped "Peloton ' set; THENCE N 23°00'45" W, 152.60 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE N 18°36'22" W, 130.16 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE N 23°00'45" W, 120.04 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE N 17° 17' 20" W, 50.14 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE N 23°00'45" W, 25.13 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set, the beginning of a curve to the right; THENCE 69.32 feet, along the arc of said curve, through a central angle of 22°41'45" ,whose radius is 175.00 feet, and the long chord which bears N 11°39'52' W, 68.87 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE N 00°19'00" W, 654.33 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set, the beginning of a curve to the left; THENCE 35.62 feet, along the arc of said curve, through a central angle of 16°19'42" ,whose radius is 125.00 feet, and the long chord which bears N 08°28'50' W, 35.50 feet to a 5/8' iron rod with a yellow cap stamped "Peloton" set; THENCE N 16°38'41" W, 2.09 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 73°21'19" W, 132.83 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; Peloton Land Solutions March 23 2011 G:\Job\10-PLT001-Rancho Santa Fe North\Sur\Legal\10-PLTOO1_PA1_Phasel.docx 2 THENCE N 16°38'41" W, 169.41 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set, the beginning of a curve to the right; THENCE 49.05 feet, along the arc of said curve, through a central angle of 15°36'51" ,whose radius is 180.00 feet, and the long chord which bears N 08°50' 16' W, 48.90 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE N O1°O1'50" W, 13.35 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE N 88°30' 16" E, 30.00 feet to an axle shaft found; THENCE N 88°58' 10" E, 30.00 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 01°O1'50" E, 13.59 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set, the beginning of a curve to the left; THENCE 35.95 feet, along the arc of said curve, through a central angle of 17°09'55" whose radius is 120.00 feet, and the long chord which bears S 09°36'48" E, 35.82 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 16°37'23" E, 116.16 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE N 73°21' 19" E, 122.83 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 16°38'41" E, 52.09 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set, the beginning of a curve to the right; THENCE 49.87 feet, along the arc of said curve, through a central angle of 16°19'42" ,whose radius is 175.00 feet, and the long chord which bears S 08°28'50" E, 49.70 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 00°19'00" E, 654.33 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set, the beginning of a curve to the left; THENCE 49.51 feet, along the arc of said curve, through a central angle of 22°41'45" ,whose radius is 125.00 feet, and the long chord which bears S 11 °39' 52" E, 49.19 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 23°00'45" E, 25.13 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 28°44' 10" E, 50.14 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 23°00'45" E, 120.04 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 27°25'08" E, 130.16 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 23°00'45" E, 152.60 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set, the beginning of a curve to the left; Peloton Land Solutions March 23, 2011 G:\Job\10-PLT001-Rancho Santa Fe North\Sur\Legal\10-PLT001_PA1_Phasetdocx THENCE 138.76 feet, along the arc of said curve, through a central angle of 06°51' 13" ,whose radius is 1160.00 feet, and the long chord which bears S 26°26'22" E, 138.68 feet to a 5/8" iron rod with a yellow cap stamped "Peloton ' set; THENCE S 29°51'58" E, 727.53 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set, the beginning of a curve to the right; THENCE 551.34 feet, along the arc of said curve, through a central angle of 28°04'46" ,whose radius is 1125.00 feet, and the long chord which bears S 15°49'35" E, 545.84 feet to a 5/8" iron rod with a yellow cap stamped "Peloton ' set; THENCE S O1°47' 12" E, 859.10 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 46°43' 12" E, 14.16 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE N 88°20'48" E, 100.00 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE N 43°16'48" E, 14.13 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE N O1°47' 12' THENCE N 88°20'48' THENCE N 00°44' 32' THENCE N 46°11'52' THENCE N 00°44' 32' THENCE N 43°48'08' THENCE N 00°44' 32' THENCE N 89°15'28' THENCE S 00°29'06" THENCE S 88°54' 11" THENCE S 00°12'04" THENCE S O 1 °00' 55" ' W, 95.00 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; ' E, 930.03 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; ' W, 100.01 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; ' W, 14.03 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; ' W, 50.01 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; ' E, 14.25 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; ' W, 88.63 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; ' E, 199.60 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; E, 1540.77 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; W, 402.67 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; E, 73.37 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; E, 50.00 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 88°59'05" W, 157.97 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set, the beginning of a curve to the right; THENCE 217.34 feet, along the arc of said curve, through a central angle of 45°16'54" ,whose radius is 275.00 feet, and the long chord which bears N 68°22'28" W, 211.72 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; Peloton Land Solutions March 23, 2011 G:\Job\10-PLT001-Rancho Santa Fe North\Sur\Legal\10-PLT001_PA1_Phasel.docx THENCE N 86°30' 10" W, 14.97 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 51°34'42" W, 17.66 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set, the beginning of a curve to the right; THENCE 31.86 feet, along the arc of said curve, through a central angle of 10°25'51" ,whose radius is 175.00 feet, and the long chord which bears S 56°47'37" W, 31.81 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 62°00'32" W, 162.82 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 17°00'32" W, 14.14 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 62°00'32" W, 50.00 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 27°59'28" E, 26.68 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set, the beginning of a curve to the left; THENCE 180.51 feet, along the arc of said curve, through a central angle of 29°32'57" whose radius is 350.00 feet, and the long chord which bears S 42°45'56" E, 178.51 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 32°27'35" W, 94.06 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set, the beginning of a curve to the right; THENCE 34.72 feet, along the arc of said curve, through a central angle of 01°42'26" ,whose radius is 1165.00 feet, and the long chord which bears S 25°52'27" E, 34.71 feet to a 5/8" iron rod with a yellow cap stamped "Peloton ' set; THENCE S 67°52'36" E, 95.92 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 76°59' 12" E, 62.67 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 86° 13' 18" E, 62.41 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE N 88°59'05" E, 612.04 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE N 45°45'56" E, 43.81 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE N 88°59'05" E, 53.78 feet to a 5/8" iron rod with a yellow cap stamped "Peloton" set; THENCE S 00°29'06 ' E, 125.01 feet to the POINT OF BEGINNING, and containing 3,130,907 square feet, or 71.876 acres of land more or less. Peloton Land Solutions March 23, 2011 G:\Job\10-PLT001-Rancho Santa Fe North\Sur\Legal\10-PLT001_PA1_Phasel.docx 5