HomeMy WebLinkAboutContract 27252GITY �EG�f�Yr°cF�Y � r
�ONT'FiACT f�� . r�I� �.
CONTINUING AGREEMENT
THE STATE OF TEXA.S §
§
C4UNTY OF TARRANT §
Tl1is Continuing Agreement {"Agre�ment"} is made as ofthe,,�,�,day ofNovember, 2001,
by and b�tween Cytec Tndustries Inc., a D�laware corporation ("Seller"} and The City ofFort Worth,
Texas ("Purchaser")(Sell�r and Purchaser are z'eferred to herein individually as a"Party" and
cnllectively as the "Paxties"}.
WHEREAS, James W. Sche11, Trustee, his successors and assigns ("Schell"}, and Seller
entered into an agreement to purchase and sall approximately 33.978 acres o£Iand situated in Fori
Worth, Tarrant Coun�y, Texas, describad in Eachibit A attached l�exeto and made a part hereof for a11
purposes (the "Property"), by an Agreement to �ell and Purchase dated October 17, 2000, and by a
�irst Amendment to Agreement ta Sell and Purchase dated November 14, 2000, and by a S�cond
Amendment to Agreemen� �o SeII and Purchase dated January , 200i, and by a Third
Arnendmant �o Agreem�nt to Sell and Purchase dated October , 2401 (as amended, the "Sell
and Purchase Agreeme�at"); and
WHEREAS, tl�e Se11 and Purchase Agreernent was assigned by Schell to Purchaser, and
Purchaser assumed the Sell and Purchase Agreament by Assignment of Rea1 Estaie Contract dated
November 7, 2000; and
W�TEREAS, a portion of the Property is subject to an agreed arder between the Texas
Natural Resource Conscrvation Commission ("TNRCC"}, Feiton Havins, Sr., TechniCoat, Ine.
("TechniCoat"}, and Sell�r dated August 19,1991, and amended in Tun� 1999, regarding that portion
of the Propez�ty formerly leased to TechniCoat (the "Agreed Ord�r"); and
WHEREAS, there exist certain cantaminants at ihe Properly due to the historieal o�erations
that will require additional inv�stigative studies and final remedial measures acceptabl� ta th� Texas
Natural Resource Conservation Commission ("TNRCC"); and
WI�REAS, Purchaser has joined Seller as a co-applicant urtder the Valuntary Cleanup
Pragram ("VCP") to address the en�crironmental conditions at the Propertyby fifing withthe TNRCG
an application and a VCP agreement; and
WHEREAS, the Sell and Purchase Agreement provides that upon the Closing of this
transaction (herein called the "Closing") Seller and Purchaser shall execute a confinuing ageement
establishing Seller's right afier Closin� to reasonal�le access to the Property for �he purpose of
conducting the i�lvestigation and monitoring the remediation �of environmental conditions at the
Property and otherwise insuring that �he covenants and obligations of Seller and Purchaser survive
Closing; and .' i _
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Q]9291 009458 Austin 1GG405,E2 —1— ' � y ������i �
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WHEREAS, Purchaser and Seller desire to enter into this Agreerrient ta satisfy the
requireme�t ofthe Se11 and Purchase Agreement for a cantinuing agreement and to establish Se11er's
and Purchasex's rights and obligations after Closing;
NOW, THEREFOR.E, far valuable consideration, Purchaser and Seller agree as follows:
1. Termination of the Agreed Order. Sellerwill eooperate with Purchaser in abtaining
the tertnination of the Agreed Order.
2. Properiy Condiiions. The Property w'as utilized in the past for industrial aperatians,
including the management anc� disposal of vvaste materials, vv'hich have created env'ironrnental
conditions present in soil and groundvvater that are the st�bject of deed recordations on the property.
Purchaser acknawledges that Seller has advised it oithe presence of contaxninants on the Prop.erty.
3. Site Development Plan. The site development plan for the Property approved by
Seller at Closing (the "Site Development Plan"} is attached hereto as Exhibit B a,nd made a part
hereof for all purposes. Any amendment to the Sit� Development Plan must be approved in writing
by Seller. The Site Developm�nt Plan and any amendments thereto shall comply witki the
rest�rictions in Paragraph � of this Agreement, and to the extent feasible, sha11 be designed to
incarporate conskruction activifies that are consistent with the remedial measures required for fhe
Prflperty by the TNRCC under the VCP. Specifically, areas requiring capping wi11 be paved ar
upgraded to satisfy the requiremenfs of the TNRCC and buried materials wi11 not be disturbed.
4. Future Use. The Property shall rernain subj ect to the following use restrictions, which
shall be recorded in a restriciive cov�nant running �vith the land: 1} no use af the groundwater
beneath the Praperty; 2) no residential use of the Praperty; and 3} the use of the Property will be
limited to cammerciai ax industrial uses or to specifzc uses defined in the Site Development Plan
approved b� Seller.
5. Payment of Pasi Groundwater Samplin� Costs. In accordance with the �econd
Amendment to tne �e11 and Purc�iase Agreement, Purchaser sha11 pay Seller the amount of
$25,65328 at Closing far costs associated wiin groundwater sarnpling at the Property conducted by
,Seller's represEntative at the request of Purchaser. These costs axe part of the Purehaser's due
diligence and are not to be paid fram the ,Site Investigation Funds described in Paaragraph 7 of this
Agreernent.
6. Site Investigation. Seller or its desigriated re�resentative shall conduct any further
investigatian of the Property conditions required by the TNRCC under the VCP ("Site
Iuvest'rgation"}. Seller's designatad representative shall be subject to Purchaser's approval, sueh
approval shall nQt be unreasonably withheld or delayed; however, if Seller chooses a designated
representative ihat �iaes not have an office ii� ihe Da11aslFort Worth Metroplex area, and the
representative must travel mare thaii forty (40) miles to the Property, the amount for "trav�l
expenses" {including but not limit�d to casts for meals, travel, travel tim� and lodging) of the
designated representative that are reimbursable from Site Investigation Funds shall be limited to
019241 069458 Austin 166405.12 -2-
$3,000. Any amount for travel expenses exceeding $3,000 shall be paid by the Seller and shall not
be reimbursable from Site Investigatian Funds. The Siie Investigation sha11 begin at Closing. The
Site Investigation phase, as to a parfiicular portion of the Property {for surface canditions anly) or for
a particular media (i.e., soils or groundwater), shall end upon a determination by th� VCP praject
manager that the investiga�ion of that particular portion or media is complete and approval of the
proposed remedy for that portion ar media.
7. Paymer�t ofSite Investi�ation Costs. Purchaser shall pay for Site Investigation frorn
th� following funds (referred to collectively herein as "Site Investigation Funds"): 1) an a�nount not
to excEed $�OO,OaO from the funds af the Purchaser; and 2) available government gra�nts or
assistance, which Purchaser agrees to pursue diligently. For .payrnent of costs for the Site
Investigation, Seller's designated representative conducting the �ite Investigation sball submit to
Seller far its approval an invoice that describes the Site Investigation services rende�ed, zncluding the
name of the person andlor suhcontractor performing sucb serviees, tbe tizne spent performing such
services, and tlie expenses incurred p�rforming such services. Ix�voices approved by Seller shall be
submitted to Purchaser far payment. Purchaser shall deliver said payfnent by check directly to
Ssller's representative within thirty {34) days after Purchaser's actual receipt of an invoice frorn
��ller; provided, however, thai if any a�x�ounts due from Purchaser are not paid within thirty (30)
days of actual receipi of an invoice from Seller and such charges are not objected to by Purchaser as
pro�ided below, Seller may charge Purchaser a laie payment charge of up to one and one-half
percent {1.5%) per month on the past due balance, not to exceed the legal maximum (the "Late
Payment Charge"). If Purchaser in good faith objects to all or any portion oiany invaice, it shall so
notify �eller within fifteen (15) days from th� date of Purchaser's acival receipt of the invoice from
Seller, and Purchaser shall timaly pay that partion of ihe invoice not in dispute. The Parties shall
immediataly rnake ev�ry effort to settle the disputed portion of the invoice. In the e�ent that the
Parties are unable to settle a disputed portion of an invoice, such disp�xted portion shall be resolved
through arbitratian in accordance with Paragraph 18 of this Agreement. In the event Yhat Purchaser
disputes any amaunts presented on a invoice from Seller and any portion of the disputed aanounts are
later deemed to be properly payable by Purchaser, either ihrough settlement o�tlxe Parties or �hrough
arbitration, such amounts deemed properly payable shall be subject fo the Late Payment Charge
described in this Paragraph. Costs incurred by Purchaser as part of its due diligence before Closing
are not costs for Site Investigaiion and such casts are not eligible for payment from Site Inv�stigatian
Funds or from the Remediation Fu�ds described in Paragraph 10 of ihis Agreemant.
$. Investi�ative Siudies. Seller shall share the resul�s of any investigative sfudies
generafied as a result of the Site Investigation �vith Purchaser within ten days of receipt af results of
any investigative studies.
9. Necessary Remediatian. Purchaser agrees to seek approval from the TNRCC of the
least costly remedial alternative consistent with the intended fixture use oftk�e Property and fhe risk
based cleanup criteria applicable ta the Proparty under the VCP required by the TNRCC to obtain a
Certificate of Completion under the VCP ("Necessary Remediation"}. Purchaser or its designated
representa.tive sha11 canduct the Necessaty Remediation. Purchaser's designated representa�i�e shall
be subject to Seller's appxova.l, such appraval shall not be unreasonably withheld or delayad.
Q19291 pD9458 Austin 16G405.12 -3-
Purchaser shall provide Seller information concerning the design and implementation ofremedial
measures and the results fro� any monitoring conducted an the Property. S�ller shall have the
opportunity to comment an documents in accordance with Paragraph 14 of thi.s Agreement.
lQ. Payment oF Necess�ry Remediation Costs. Purchaser shall pay for any and all
Necessa�y Remediation at the Property, including the monrtoring of groundwaier quality, from ihe
following funds (referred to collectively herein as "Remediaiion Funds"}: 1) any remaining Site
Investigation Funds aftex completion of the Site Investigatian; 2) funds of Purchaser in an additional
amount not ta exceed $900,a00; a�d 3) any available government grants or assistanca, which
Purchaser agrees to pursue diligently. The cost of any remediai measures beyond those comprising
Necessary Remediation shall be the sole responsibility of Purchaser and shall nat be chargeable
against the Remediation Funds. Purchaser shall provide Se11er wifih copies of invoices describing the
services for which Purchaser seeks payment from Remediation Funds na iess than thirty (30} days
before sucli services are paid from Remediation Funds. rf Seller objects to ali or any portion af any
invoice on the basis that it is not �ligible for payment from Remediation Funds, Se11er shall so notify
Purchaser within �'ifteen (15) days from the date of Seller's actual receipt of thE invoice, and
Purchaser shall seek payment of that poriion af the invaice not in dispute for remediatian. The
Parties shall immediately make every effort ta settle the disputed portion ofthe invoice. In tl�e event
that tlie Parties are unable to settle a disputed po�tion af an invaiee, such disputed portian shall be
resolved through arbitration in accordance with Paragraph 1 S of �t�.is Agreement. In the even�t that
Seller di�putes any amaunts presented on an invoice from Purchaser and any portion of the disputed
a�nounts a.r� later deamcd to be properly payable by Remediation Funds, either through settlement of
the Parties ar thr'ough arbitration, S�ller shall ba respansible for a Late Payment Charge describad in
Paragraph 7 of this Agxeemen�.
11. Construction Costs. Costs for components of the Site Development Plan that are
accepted by the TNRCC in lieu of remedial measures that would otherwise be required by the
TNRCC under the VCP are eligible for payment from Remediation Funds described in Paragraph 10
of �his Agreement, provided ihat such costs do not exceed the cost of the Necessary Rernedia�ion
avoided. Far example, Purchaser may construct a parking 1ot in lieu of a cap over areas af the
Pxoperiy for which capping wauld otherwise be Necessary Remediation. The costs far paving may
be paid from Rernediation Funds up to the amount that Purchaser would otherwis� have incurred for
the cap constituting 1Vecessary Remediation, provided that the area ofpavrng for which Remediatian
Funds are sought is no larger than the area requiring a cap. The casts ofpaxking lot construction in
areas of the Property where capping is no� required to safisfy applicable risk based closu.re standa�rds
are not eligible for payment using Remedi�.tion Funds. In accordance with Paragraph 10 of this
t�.greement, Purchaser must submit to Seller adequate documenta�ion ta support its claim for
payment of construction costs, including the costs for construction and a supported estimate af
avoided Necessary Remediation costs.
12. Rexxaediation Cost Cap Insurance. Upan completion of the �ite Tnvestigation, the
Parties will purchase remediatzan casf cap insurance in a�'or�n acceptabl� to both Seller and
Purchaser, and identifying both Seller ��ad Puzchaser as insuxeds, to cover eosts far Necessary
Remediation at the Property in the event that Remediation �unds are exhausted. One-half of the cosi
019291 009458 Austin 166465.12 -�--
af th.e remed'aation cost cap insurance policy up ta a maxit�um of $25,OOd shall be paid from
Remdiation Funds. Pnrchaser shall ba solely responsible for fiinding all remaining costs of the
policy from other sources.
l 3. Property Access. Seller sh�.11 have reasonable access to the Property as is necessary
far the purpose af conducting the Site Tnvestigation and far rrionitoring the rernediation of
environmez�tal conditions. In cooperaiion with the Purchaser, any subsequent owner of the Property,
or �essee, Seller shall establish an access schedule that assures efficient performance of the wark
required by the VCP and c�aes nat interfeare with the scheduled evenis at the Property.
14. Opportunity io Comment. Each Party shall provide the ather with reasonable
oppariunity of at least ten (10} business days from receipt of the draft to review and comment on
drafts of all documents pertaining to the Property ar the Site Tnvestigation or remediation of
conditio�s an the Property to be submiited to the TNRCC or other governmental agencies, before
such documents �e submitted tn the a�ency. If a Pariy in good faith objects to the submission of a
document, the Parties shall imm.ediately make every efiart to resolve the issue befare the docurnent
is submitted to the agency. If necessary, the Parties shall seek an extension to any applicable filing
deadline to allow resolution of the dispute.
1S. INDElVINIFrCA�TTON. TO THE EXTENT ALLOWED BY LAW, PURCHASER
SHALL IlVDEMNIFY, DEFEND, AND H�LD HARIVILESS SELLER AND ITS DIRECT�RS,
OFFICERS, EMPLOYEES, P.ARTNERS, SH�REHQLDERS, SUCCESS4RS, AND ASSTGNS
FROM AND AGAINST ANY AND ALL LAWSiJZTS, CLAIMS, LIABILITIES, ACTIONS,
CAUSES OF ACTION, DEMANDS, LOSSES, DAMAGES, FORFEITURE�, PENALTIES,
FINES, COSTS AND EXPENSES, INCLUDING, BUT NOT LIMITED TO, REASONABLE
ATTQRNEYS' FEES AND EXPENSES (COLLECTIVELY, "LIABILITIES") TO THE EXTENT
THE SAME ART�E FROM THE PERFORMANCE OF THE REMEDIAL MEASURES,
1NCLUDIlVG THE ADEQUACY OF SUCH REMEDTAL MEASURES TO PROTECT HUMAN
HEALTH AND THE ENVIRQNN�NT, OR THE DEVELOPMENT OF THE PROPERTY BY
THE PURCHASER, ITS EMPLQYEES, AGENTS, AFFTLIATES,
CONTRACTORS/SUBCONTRACTORS, OR ANY THIRD �'ARTY. N�THING CONTAINED
HERE�N SHALL EVER BE CONSTRUED SO AS TO REQUIR� PURCHASER TO ASSESS,
LEVY AND COLLECT ANY TAX TO FUND rTS OBLIGATIONS UNDER THIS SECTION.
PURCHASER �HALL REQUIRE ANY THIlZD PARTY, 1NCLUDING ANY DEVELOPER,
THAT PERFORMS REMEDIAL MEASURES OR DEVELOPS THE PROPERTY T4
ACKNOWLEDGE THE ENVIRONMENTAL C4NDTTTONS ON THE PROPERTY AND TO
TNDEMNI�'Y SELLER FOR ANY LIABILITIES ARISING FROM THE THIRD-PARTY'S
REMEDIAL OR DEVELOPMENT ACTIVITIES, INCLUDING THE ADEQUACY OF
PERFORM.ED REMEDIAL MEASURES TO PRDTECT HUMAN HEAI,TH AND THE
ENVIRONIVIENT, OR THE CONDITIONS AT THE PROPERTY.
16. Notice, Any notice or ca�mmunication required or permitted hereunde�r shall be given
in writing, sent by (a) p�rsonal dalivery, ar(b) expedited delivery service with praof of delivery, ar
O19291 009458 Austin ]66405.12 -5-
(c) LTnited States mail, posfage prepaid, registered ar certified mail, or (d) telecopy, addressed as
follow s:
To Saller: Secretary
Cytec Indusiries Inc.
5 Garret Mountain Plaza
West Paterson, New Jersey 07424
Copy to: Anton C. Ma�•ek
Cyiec Industries Inc.
5 Ga�-et Mounta.in Plaza
West Paterson, New Jersey 07424
Facsirnile No.: (973) 569-4011
Thomas A. Waldman, Esq.
Legal Department
Cytec Tndustries Tnc.
5 Garret Mountain Plaza
West Paterson, New J�rsey Q7424
Facsim_ile No.: (973) 357-3058
James C. Morriss III
Thompson 8� T�night L.L.P.
9$ San Jacinto Blvd., Suite 1200
Austin, Texas 78701
Facsimile No.: (512} 459-61 SO
To Purchaser: David L. Yett
City Attorney
City of Fort Worth
1000 Throclanorton
Fort Worth, Texas 76101
Facsimile No.: (817) 871-7600
or to such o�her address or ta the attentian of such other person as hereafter shall be design.ated in
writing by the applicable �'azty sent in accordance herew�i�h. .Any such notice ar communication
shall be deemed to ha�e been given either at the time of pea-soiial delivary or, in the c�se of delivery
service or mail, as of the date of first attempted delivery at the address and in the manner provided
herein, or in ihe case af telecopy, upon receipt.
019291 009458 Austin 16G40S.12 -6-
17. NO REPRESENTATIONS 4R WARR�NTTES. NOTWITHSTANDING
ANYTHING TO THE CONTRARY CONTAINED ]N THIS AGREEMENT OR IN ANY
EXHIBIT ATTACHED HERETO, IT IS UNDERSTOOD AND AGREED THAT THE
PROPERTY �S BEING SOLD .AND CONVEYED HEREUNl7ER "AS I�" WITH ANY AND ALL
FAULTS AND LATENT AND PATENT DEFECTS WITHOUT ANY EXPRESS OR IMPLIED
REPRESENTATION OR WARRANTY BY SELLER EXCEPT AS EXPRESSLY SET FORTH
HEREIN. SELLER HAS NOT MADE AND DOES NOT HEREBY MAKE AND HEREBY
SPECIFICALLY DISCLAIMS (EXCEPT AS EXPRESSLY SET FORTH HEREII� ANY
REPRESENTATIONS OR WARRANTTES OF ANY KIND OR C�-�ARACTER WHATSOEVER,
EXPRESS �R IMPLIED, WITH RESPECT TO THE PRQPERTY {4THER THAN SELLER'S
SPECIAL WARRANTY OF TITLE CONTAINED IN THE SPECIAL VGTARRANTY DEED TO
BE DELNERED AT CLOSING}, ITS CONDITION (�NCLUDING WITHOUT LIMITATION
ANY REPRESENTATION OR WARRANTY REGARDING QUALITY �F CONSTRUCTION,
STATE OF REPAIR, WORKMANSHIP, MERCHANTABILITY, SUITABII,ITY OR FrTNESS
FOR ANY PARTICULAR PURPOSE), ITS COMPLTANCE WTTH EN VIRONN�NTAL LAWS
OR OTHER LAWS, AVAILABILITY OF ACCESS, INGRESS QR EGRESS, INCOME TO BE
DERTVED THEREFROM OR EXPENSES T� BE INCURRED WITH RESPECT THERETO,
THE OBLTGATIONS, RESPQNSIBILITIES OR LIABILTTIES QF THE QWNER THEREOF, OR
ANY OTHER MATTER OR THING RELATING TO OR AFFECT�.NG THE PROPERTY AND
SELLER HEREBY DISCLAIMS AND RENOUNCES ANY OTHER REPRESENTATION OR
WARRANTY. PUR.CHASER ACKNOWLEDGES AND AGREES THAT PURCHASER I�
ENTERING INTO THIS AGREEMENT WITHOUT RELYTNG (EXCEPT AS EXPRES�LY SET
FORTH HEREIN} UPON ANY SUCH REPRESENTATTON, �iVARRANTY, �TATEMENT OR
OTHER ASSERTION, ORAL OR WItTTTEN, MADE BY SELLER OR ANY
REPRESENTATIVE OF SELLER OR AN Y OTHER PERS ON ACTING OR PURPORTING TO
ACT FOR OR ON BEHALF OF SELLER WiTH RE�PECT TO THE PROPERTY BUT RATHER
IS RELYING UP4N IT,S QWN EX�IMINATION �ND 1NSPECT�ON OF THE PROPERTY.
EXCEPT AS SET FORTH HER�IN, PUR.CHASER HEREBY RELEASE5 AND FOREVER
DISCHARGES SELLER FROIVI ANY AND ALL LIABILITY TO PURCHASER FOR CLAIMS,
LOSES, DAMAGES, COSTS, OR EXPENSES OF ANY I�]ND OR CHARACTER ARISING OUT
OF OR RESULT]NG FROM CONDITYONS EXTSTING ON THE PROPERTY PRIOR TO
CLOSTNG. PURCHASERREPRESENTS THAT IT TS A KNDWLEDGEABLE PURCHASER
OF REAL ESTATE AND THAT IT IS RELIED �OLELY QN ITS OWN EXPERTISE AND
THAT 4F ITS CONSULTANTS IN PURCHASING THE PROPERTY. PURCHASER FURTHER
ACKNQWLEDGES �1ND AGREES THAT THE PROVISIONS OF THIS PARAGRAPH WERE A
MATERIAL FACTOR iN THE DETERMTNATION OF THE PURCHASE PRTCE FOR THE
PROPERTY.
1 S. Arbitration. � eller and Purchaser agree that upon the written demand of either Party,
whether made befare or after the institution af any legal praceedings, but prior to the rendering af
any judgment in thai procaeding, all disputes, claims alzd controversies b�tw�en i�em, whether
indi�idual, joint ar class in nature, arising from the Agreement, sha1l b� resolved by binding
arbitration pursuant to the Commercial Rules of the American Arbiiration Association, Any
arbitration proceeding held pursuant to this arbitration provision s1�a11 b� canducted in the city af
019291 (109458 Austin 1G64Q5,12 �7-
Fort Worth, or at any other place selected by mutual agreernent of the Parties. Judgment upon any
award rendered by any arbitrator may be entered in any court having jurisdiction. The statute of
limitations, estoppel, �waiver, laches and similar dactrines whi�chwould afiherwisebe applicable in an
action brought by a Party shall be applicable in any arbitration proceeding, and the commencement
oi an arbitration proceeding shall be deemed the corrunencement of any action for these purposes.
The prevailing Party sha11 be entitled to receive from the losing Party all court or arbiiration costs in
connection with said procceding. The Federal Arbitration Act (Title 9 of �he United States Code}
shall apply ta the consiruciion, interpreta�ion, and enforcement of ihis arbitration provision.
19. Para�raph Headin�s. The paragraph headiu�.gs contained in this Agreement are for
convenience only and shall in no way enlarge or limit the scope or meaning of the various and
several paragraphs hereof.
20. Compleie A�reement. This Agreement embodies the camplete agreement between
the Parties hereto and cannot be varied or terminated except by the written agreement af the Parties.
21. Applicability. Th� �erms and provisions of this Agreement shall be bincling upan. and
inure to the benefit o�' the Parties hereto and their respective heirs, personal representatives,
successors and pem�itted assigns.
22. Time. Time is of the sssence af this Agreement
23. Gender and Number. Within this Agreement, words of any gender sl�all be held and
construed to include any oiher gender, and words in the singular number shall be held and construed
to include the plural and words in the plural number shall b� held and construed to include the
singular, unless �he context otharwise r�quires.
24. Severability. A determination that any provision af this Agreement is unenforceabl�
or in�alid shall not affect the enforceabilify or validity of any other provision hereof and any
determinatian ihat the application of any provision af this Agreement to any p�rson or circums�ance
is iiiegal ar unenforceable shall not affect the enforceability ar validity of such provision as �t rnay
apply to any ather persons or circumstances.
25. Counterparts. This Agr�ement may b� executed in any nut�ber of counterparts with
the same effect as i�'a11 Parties hereto had signed the same document. AIl such counterparts shall be
construed tagether and sha11 constitute one instrument, but in making proof hereof it shall only be
necessary to produce one such countexpart.
26. Facsimile Execution. The Partie� agree that this Agreement may be iransmitt�d
�etween them by facsimile machine. The Parties intend that faxed signatures consiitute original
signatures and thai a faxed agreement containing the signatures (original ar faxed} of a.11 of the
Parties is binding on the Parties.
OI9291 409458 Austin 16b405.12 -$-
27. APPLICABLE LAi�. UNLESS OTHERWISE EXPRESSLY PROVIDED HEREIN,
THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED ACCORDING TO THE
LAWS OF THE STATE OF TEXAS, WITHOUT REGARD TO CONFLICTS OF LAWS
PRINCTPLES.
IlV WITNESS WHEREOF, this Continuing Agreement is e�ecuied by Seller and Purchaser
as of the date first above written.
CYTEC INDUSTRIE� INC., a Delaware corporation
, �� - - -
.�`,��� By '
�,��1a � �e J. p. Cron i n
�` itle Vice Preszdent and �hief Financial Officer
SELLER
THE CITY OF FORT WORTH, TEXAS
By ����.�/_ d
Name /��';'�� � ,�'Rr�a�e..�
Title L i,� /ia.✓��
i �
PURCHA�ER
ATTEST:
,
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� . �k � lil�y ecretary
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APPR D TO FQRM �ND LEGALITY:
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City Atto ey
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C�r��.s��t d�uti�ag���ti n
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na�e
014291 D49458 Austin 1664a5.12
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THE STATE �F New Jerse,7§
Passaic §
COUNTY OF §
This instrument was acknowledg�d before me on Novernber 2�, 2001, b�'
J. p. Cro n i n , V i ce Pr� s. ofC�ec Industries, Inc., a Delawaxe corporation,
on behalf of said corporation.
� ,
My Commission Expires: Notary Public, State o�'��( New Jersey
,
�
;
PrintedJTyp�d Name ofNotayy
THE STATE OF TEXAS §
§
COUNTY OF TARRANT §
This instrument was acknowledged be�ore me on November.� y, 2001, by �t.,tW `v �Rc,E�,.�'
(} '- of The City of Fort Worth, T ass�behalf of said City. �
_� �
My Commission Expires: Notar Public, State of Texas
i �,i-`t � �1 � �' f �.'r .�5 d C.l ✓�t
Printed/Typed l�ame of Notary
.`P�YpV$y' PATSY COl(
r".•°����'q NOTARY PU�LlC
�Nt i�' State of Texas
9��'c�}r�Comm Exp�2-18-200�
019291 009458 Austin 16G405.12 -1�-
E�YSYT A
Legal Descriptian af Land
.All thase certain tract� p� paareels of land eornprisin�:
Lots 1- 20, 27 � 36, Block �0; Lots 1� 10, 15 ��4, Blocl� �3�; Lots 1- 10, 1� � 24,
Bloc� �33; Lots 1 o io, 1 a� 24, Block 234, 1�ORTH FORT WORTH TOWI�I�ITE
COMPANY'� �ubdi�vision in the City of Fart Warth, Tarrant County, Texas, accardin� to
Plat recorded in Volume �04A, Page 11'�, Deed Records of Tarraatxt County, Texa�;
Lats 1� 1Q of an unrecorded Subdai�sion of a portion oi the F. G. MULLIKIN SURVEY,
Abstract No. � 045, as described in deed to Ireland Hamptan, Trustee, reeorded in
Volume 1314, Page 154, Deed Records of Tarrant Connty, Te�as;
Lots 1- S, B1ocI� C; Lots 1- 6 and a portion of Lot 'l, Blocl� D; Lots Z� 6, Block B; Lots
1d�0, Block E; Lots 1 d 4 Blocl� F; and Lots 1�11, Block G, the UNIOI� LAIiTD
COIVIPANY IliTDU�TRIAL ADDIT�OI�T to the Gity of Fort Worth, Tarrant County, Texas,
aecor+cli�g to Plat recorded in Volume 309, Pa�e 75, Deed Reeords of Tarrant County,
Texas;
Lots �- 10, Lo�s 23 - 32, Black Y; Lots 1� 10, Block �, Y1�TDU�TRIAL ADDITION to the
City of Fort Worth, Taxrant County, Texas, according to Plat recorded i�xi Volume �04,
Pa�e I01, Deed Recorda of Tarrant Cqunty;
together with portions of gtreets and alley� closed and abandoned by City of Fort Worth
Ordinance No. �336, a certified copy of which is recorded in Volume 2063, Pa�e 112,
Deed Recorde of Tarran� Coranty, Texas; Ordinance No. 2092, a certified copy af whicb
is recorded in Volume 1447, Page 505, and Ordinance l�To. 3416 (unrecorded};
tagether wi�.h a tract a£la�n.d out of the Feli.�: G. MLTLLIKIN �URVEY, Abstract No. 104�,
Tarrant Caunty, Texas;
�AVE AIiD EXCEPT THEREFROM that portion describ�d in deed from American
Cyanamid Company to Texas Electric Service Compan.y recorded in Volume 25'�0, Pa�e
�8�, Deed Records of Tarraxit County, Texas;
Bei�ug the same property conveyed to Cytec Industries Inc. by that certain Deed Without
Warranty dated a� of December 17, 1993, r�;carded in Volume 11354, Page 1�31, Deed
Record� of Tarrant County, Texas.
�aid residue tract being also described by metes and bou�ds as fallows:
019291 0059�58 DAI.LAS I364318.3 P�gO 1 Of �
BEGINNII�G at a cancrete rnonument in the Easterly lin� of North
Commerce ��reet, 100 feet �outherly from its intersection with the
Southerly line of 1�Torth ��th Street, bein� the li'or�.hwest corner of Lat 20
in Block �0 af North Fort Worth and �e 1�Torthwest corner of said
American Cyanarnid Company Traet.
THENCE, North GO deg�rees East, alon� the North line of said tract, 990
feet to a cancrete mo�wnent at ihe Northeaet corner of Lot 1� in Slock
�34 of said l�orth Foxt Worth.
THENCE, alo� the Easterly line of said traet: �outh 30 degrees East 10� I
feei to a concrete rnonument, and �outh 37 degrees �S minutes East 49�
�51100 feet to a concret� monument in the middle of the 1�Tarih line oi' Lot
'7 in Block D of [Tnion Land Company's Industrial Addi�io�n, and �auth 30
de�rees 38 minutes East 50 feet to a cancrete monument in the E�st line of
said Lot 7, and �outlz nd de�rees 36 minutes East 15��'�/10 feet to a
concrete monument at the Sontheast eorner oi said Lot '�� and Narth 89
degre�s �� minutea East 100 feet to a eoncrete monument, and �auth 32
degrees 40 minutes East 94�3110 feet to a concrete monurnent at the
Nartheast corner nf Lot 10 ai Slock E of said Union Land Company's
Indn�trial Addition, and �anth na degrees 38 minute East �3� feet to a
concrete monumeni, and North 89 degrees 44 m.inutes Ea�t 33 �eet to a
concrete monument, and �outh na de�rees l.b xninutes Eaet, to and along
the East line af Lot 10 in Block 1 of Indurtrial Addition, 171�7110 feet to
an iron set for the l�Tortheast corner of said tract conveyed to said Te�aa
Electric Service Company.
THENCE South �9 degrees �0 minutes Weat, alon� �the Narth line of said
Texas Electric Service Campax�y traci, 6�7 feet to an iron set for a
reentrant corner of said tract.
THENCE l�orth 30 de�rees West, along a Northeasterly line of said tract, at
29�181100 feet, a"Y" cut on a leaning concrete monument and caat�tint�in�
said course alang the Westerly line a� �aid Aznerican Cy�anamid Company
tract, and �in all 1294�68f100 feet to a concrete monument at the Sontheast
corner of said Block 20 in North Fort Worth.
THEI�TCE South 60 degrees �est ��0 feet ta a eoncrete monument at the
Sou�thwest corner of aaid Blaek �4.
THENCE North 30 d�rees West, along the west line of said bloc� and a
Westerly line of said American Cyanamid Gompany tract, �00 feet to the
Place o� Beginning and containiu� Th�irty�Three and Nine Flundred Seventya
Ei�ht d�e-Thousandths (33-97811000) acres, more or l�as.
019291 009458 DALLAS 1364316.3 Page � of �
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44 0008 100 L�00146f 8
����I��� �1.���.C� '� �5���.��� �������
SU�3EC'� 7C� T� EXCLUSIi�1V5 �OI�1C C�V]ERAGE, TH[E EX�PTI�NS FROM CO'4IE�AGE
C�Tt�1TA][]N�D I1V S��I]EL�[]L� � A�ID 'ThY� GO�TD�'Ti�NS A1�1D S�`TP7lT�ATIOi�S, Chicaga 'Y'itle
Insurance Company, a 1�1[issouri corporati€�n, herein called the Company, insures, as of Date of Poiicy shown
in Schedt�le A, against loss or damage, not exceeding the Amount of Insurance stated in �chedule A, sustained
or incurred by the insured by reason of:
1. Title to the estate or interest described in Sehedule A being vested other than as stated therein;
2. Any defect in ar lie� oz encumbranee on tt�e title;
3. �ny statutory or constitutional mechanic's, contraetor's, or rnaterialman's lien for labor or material
having its ineeption on or before Ilate of Poliey;
4. Lack of a right of access to and from the land;
5. L.acl: of a good �nd indefeasihle title.
The Company also wiIl pay the costs, attarneys' fees and expenses incurred in defense af the title, as
insui'ed, but only to the extent provided in the Conditions and Strpulations.
In VVitness Hereof, C�-�I�AGO TIT�.]E INSYJRAN�E C�Y1�PAl�Y has caused this policy to be executed
hy its 1�'residenc under the seal af the �o.nnp�ty, bnt this policy is Co be valid nnly when it bears an authorized
cauntarsignature, as af the date set forth in 5chedule A.
Issued by:
RATTIKIN TITLE COMPAI�}Y
201 MAIN STREET, SUITE SpQ
�ORT WORTH, TX 76102
(8I7)332-i171
FAX (8I7} 338-1
C�'11CAC'r0 "['I�9.E I�iSIJR,�AlCE ��YNIPAP1�f
�1��" 1'f ����
M F
4 ? ��i+�l S �
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"�}�5 EAL� T
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Secretary.
T � �VV�1���3 ��L�C�(
Reorder Form Pla. �2� (Reu 1183)
IE�LC,LUS][�I�1S ]F�OiV�I CO�'ERA.��E
The fnllowing mat#ers are expressly excluded from the coverage of this of Folicy, but �Cnown to t6e insured claimant and not disclosed in writing to
policy and the Company wil] not pay ioss or damage, costs, attorneys' fees the Cornpany by the insured claimani prior ta the date the insured Ciaimant
or expenses which arise by reason of: became an insured under this policy;
1. {a) Any law, ordinance or govemmental regulation (incl�ding but not
limited to huilding and zoning laws, ordinances, or regulations) restricting,
regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of
the land; (ii) the character, dimensions or IocaCion of any improvement now
or hereafter erected on the Iand; (iii) a separation in ownership or a change in
the dimensions or area of the land or any parcel of which the land is ar was a
part; or (iv} environmental protectian, or the effect of any violation of these
laws, ordinances or go�emmental regulaYions, except to the extent that a
notice of the enforcement thereaf or a notice of a dafect, lien or encumbrance
resulting fram a vivlation or alleged �iolation affecting the land has been
recarded in the public records at Date of Policy.
(b) Any govemmenta] police power not exeluded by (a) abave, except ta
the extent that a noTice of the exercise thereaf or a natice of a defect, lien or
encumbrance resulting from a violation or alleged vialation affecting the land
has been recorded in the public records at Date of Policy.
2. Rights of eminent damain �nless notice of the exercise thereaf has Y�een
recorded in the public records at L7ate of Policy, hut not excEuding from
coverage ar�y ta�ing tF3at has occurred prior to Date of. Policy which would be
binding on the rights of a purchaser far val�e without knowledge.
3. Defects, liens, encumbrances, adverse cla'sms or other matters:
(a) created, suffered, assumed or agreed to by the insured c3aimant;
(c) resulting in no loss or damage to th� insured clairnant;
(d) attaching ar created subsequent to Date of Policy;
(e) resulting in loss or damage that would noY have been sustained if ihe
insured claimant had paid value for the estate or interest insured by this policy.
4. �'he refusal of any persan to purchase, ]ease or lend money on the estate
or inierest covered hereby in the land described in Schedule A because of
unmarketability of the titte.
5. Any claim which arises out of the transaction vesting in the person aarized
in paragraph 3 of Sche�ule A the estate or interest insured by this policy, hy
reason af the operation of federa] bankruptcy, sEate insol�ency, or other state
or federal creditors' rights laws that is based on either (i) the transaction
creating the estate or interest of the insured by this Policy being deemed a
fraudulent conveyance or fra�du]eot transfer or a voidable distribution or
�oidable dividend, {ii} the subordination ar recharacterization of the estate or
interest 6eing insured by this Po]icy as a result of the application of the
doctrine of equitable subordination or (iii) the transaction creating the estate
or interest insured by this Policy being deemed a preferential transfer except
where the preferential transfer results from the faiiure of the Company or its
issuing agent to tunely file €or record the 'tnsrrument of transfer to the Insured
after delivery or the fai7urc of such recordation to unpart �ouee to a purchaser
for value or a judgement or lien creditor.
(b) not known to the Company, not recorc�ed in the public records at Date
�OY�1][➢��'IOI�i� A�iI) �'ll��P'iJ]GATI�l�iS
l. I)E1F'�I+fIIi'IIO�+1 �1F"P��1V1�
The following terms when used in this �olicy mean:
(a} "insured": the insured named in Schedule A, and, subject to any rights
or defenses the Company would have had against Ehe named insured, those
who sueceed to the interest of the named insured by operation of law as
distinguished from purchase including, hut not IiFnited to, heirs, distrib�tees,
der+ices, survivors, personal representatives, next of kin, ar corporate, partner-
ship ar fiduciary successars, a�d specifically, w3thout limitation, the follow-
ing:
(i�l the successors in interest ta a corporation resulting from merger or
consolidation or the distrlbutiqn of the assets of the corporaYion uppn partial
or complete liquidation;
(ii) the partnership successors in interest to a general or limited
partnership which dissolves but dces not terminate;
(iii) the successors in interest ta a general or limited partnership
rest�lting from the distribution of the assets of the general ar limited part�er-
ship upon partial or complete liqnidation;
(iv) the successors in interest ta a joint venture resulting from the
dis[ribution of the assets of the joint venture upon panial ar complete
liquidation;
(v) the successor or sabstitute trustee(s) of a trustee named in a written
trust instrument; or
(vi) the successors in inferest to a tn�stee nr trust re5ulting from tne
distributian of all or part of the assets of the trust to the benefciaries thereof.
{b) "insured claimant": an insured claiming lass or damage.
{c) "knowledge" or "knpwn": act�ai knowledge, not constructive knowl-
edge or noEic� that may be imputed to an insured by reason of the public
records as defined in this policy or any ot�er records which impart �ansiruc-
tive ►�otice of matters affecting the land.
{d) "land": the land described or referred to in �chedule A, and
impt-ovements affixed thersto that by law constitute real property. The term
"Iand" does not incIude any property beyond the lines of the area described
or referred to in Schedule A, nor any right, title, interest, estate or easement
in ahutting streets, raads, avenues, alleys, lanes, ways or waterways, but
nothing herein shall modify or limit t3ie extent to which a right of access ta and
from the land is insured by this policy.
(e) "mortgage": naortgage, deed of trust, trust deed, or other security
instrument.
{fl "public records": records established under state siatutes at Date of
Policy for the purpose of irnparting constructive notice vf matters relating to
real groperty ta purchasers for val�e and withouY :cnowledge. Vdith respect to
Section 1(a)(i+r) of the Exclusions From Covarage, "pablic records" also shall
include environmental protection liens filed in the rewrds of the cler�C of the
United States district caurt for the district in �hich the land is located.
(g) "access": legal right of access to the land and not the physical condition
nf access. The coverage provided as to access does not assure Ehe adequacy
af access for the �se iniended.
Z, ��lii'['I�11J�111'I�➢V �� �T1�U1R.�1�E �F'�'lER �ON@/�1�f�➢�C� �1�
�'ITll,E
The coverage of this policy shall continue in force as of Date of Policy in
favor of an insured onIy so long as the insured retains an estate or interest in
the land, or hplds an indebtedness secured by a purchase money mortgage
given by a purchaser from the insured, or only so Iong as the insured sha11 have
]iabiliry by reason o#'covenants of warranty made by the insurefl in any trar�sfer
or canveyance of the estate or interest. This policy shall not continue in force
in favor of any purchaser frvm the insured of either (i) an estate or interest in
the land, or (ii) an indebtedness secured by a purcE�ase money mortgage given
to the insurecf.
3. �d�'i'IC� �]F C]GATiMI �'O ]�E �IVE➢el ��' II�d�1J1��ED CL�i��d7'
The insured shall notify the Company pramptly in writing (i) in case of
any iitigatian as set forth in Sectian 4(a) below, or (ii) in case knowledge shall
come to an insured heteunder of any claim of tide ar interest thai is adverse
tp tlte tatle to the estate or interest, as insured, and that might cause loss or
damage for which the Company rnay be liable by virtue of this policy. If
prompt notice shall not be given to the Company, then as to the insured all
liability of the Company shall termi.nate �vith regard ta the matter or matters
for which prompt notice is required; provided, however, that failure to notifq
the Company shail in no case prejadice the rigl�ts of any insured under this
policy unless the Company shall be prejudiced by the failure and then only
to the extent of the prejudice.
When, after the date of the policy, the insured notifies the Company as
required herein of a lien, encumbrance, adverse claim or other defect in ritle
to the esta�e or interest in the land insured by this policy that is not �xclud�d
or excepted from the cvverage of this policy, the Company shall promptIy
investigate the charge Eo determine whether the lien, encumbrance, adverse
clainri vr defeet is valid and nat barred by law ax statute. The Gompany shall
notify the insured in writing, within a reasonable time, of its determinauon
as to the validity or invalidity of Ehe insured's clairn or charge under the poiicy.
If the Company concludes cY►at Fb,e lian, encumbrance, adverse claim or defect
is not covered by this pnlicy, or was otherwise addressed in the elosing of the
transaction in connecdon with which this policy was issued, the Company
shaIl speciiically advise the insured of the reasons for its determination. bf
the Company cancludes that the lien, encumbrance, ad�erse claim or defect
is va!�d, th�'C�mpany shall take one of the fpllnwing actions: (i} insiitute the
necessary proceedings to clear the lien, encumbrance, adverse claim or defect
from the title to the estate as insured; (ii) indemnify the insured as pro�ided
in this policy; (iii) upon payment o#' appropriate preminm and charges
therefor, issue to the insured claimant or to a suhsequent pwner, mortgagee or
halder of the estate ar interest in Che land insured by this policy, a policy of
title insurance without exception for the Iien, encumbrance, adverse claim or
defect, said policy to be in an amoant equal ta the eurrent value of the property
or, if a mortgagee policy, the amount oF the loan; (iv) indemnify another title
insurance company in coanection with its issuance of a policy{ies) of title
insurance without exception far the lien, encumbrance, adverse claim or
defect; (v} secure a release or other document discharging Che lien,
encumbrance, adverse claim or defect; or (vi) underta�e a comhination of (i}
through (v) herein.
4. ID1Ek`�t�fSE �a�flD �'1l�O�ECi1'PffO�I Q�' �C11'Ii�1V�:
l�gJ'➢'Y �l�' IYRS�JI�IEI) �1L�][Ii9A1�1�1' �I'� �O�PE]Rt�'�`]�
(a) Upon written request by tha insured and subject to the options
conEained in Section b of these Conditions and Stipulations, the Company, at
its awn cost and wit3�out unreasonable delay, shall provide far the defense oF
an ir►sured in ]itigation in whieh any third party asserts a claim adverse to the
title or interesi as insured, bu[ only as to those stated causes of action alleging
a cfefect, lien or encum6raoce or a#her mattar insured against this palicy. 'The
Company shall have the right to select cvunsel of its chvice (su6lect to the right
o#' the insured to object for reasonable cause) to represent ti�e insured as to
those stated causes of action and shall not be liabie for and w�ll not pay the fees
o#' any other counsel. The• Company will not pay any fees, cosis or expenses
incurred by the insured in the defense of those causes of action titat allege
matters not insured against by this policy.
(b} The Company shall have the right, at its own cost, [o institute and
prosec ute any action or proceeding or to do any other act that in its opinion rnay
be necessary or desirable to esEablish the title to the estate or interest, as
insured, or to prevent or reducc loss or damage to the insured. The Company
may talce any appropriate action under the terms of this policy, whether or not
iE sha116e liable hereunder, and shal] not thereby concede IiabiliGy or waive a�y
pro�ision af this policy. If the Company shall exercise its rights under this
paragraph, it shall do so diligent�y.
(c} Whenever the Company shall ha�e brought an actian or interpased a
dafense as required or permitted by the provisions of this policy, the Company
may pursue any litigation to fina3 determination by a court of competent
jurisdictivn and expressly reserves the right, in its sole discretion, to appeal
from any adverse judgement or arder.
(d) In all cases where this policy permits or requires the Company to
prosecute vr provide for Ehe defense of any action or proceeding, the insured
shali secure to the Campany the right to sp prasecute or pravide defense in
the action or proceeding, and all appeals Eherein, and permit the Campany to
use, at its option, the name of the insured for this purpose. Whenever requested
by the Company, the insured, at the Company's expense, shall give the
Company aIl reasonable a3d (i) in any action or proceeding, securing
evidence, obtaining witnesses, prosecuting or defending the action or pro-
ceeding or effecting settlement, and (ii} in any other lawful act that in khe
opinion of the Connpainy may be necessary or desixable to estabIish the title to
the estate or interest as insured. If the Company is prejudiced by the f�ailure
of the insured to fumish €he required cooperation, the Company's obtigations
Co the insured under the policy shall terminate, incIuding any li�bili�y or
obligation to defend, prosecute, or co�tinue any litigation, with regard to the
�natter or matters requiring such cooperation.
5. P]R�aF �1� I,��� �I21�Aii�3.���
ln addition to and after the notices required untier Sectipn 3 of these
Conditions and Stipulations have heen pmvided the Company, a proof of Ioss
or damage signed and swarn to by the insured claimant shall be fumished to
the Company within 91 days after the insured claimant shall ascertain the facts
giving rise to the loss or damage. The proof af loss or damage shaIl describe
the defect in, or lien or encumbrance on the title, or other matter insured
against by this poli�y that cansYitutes the basis of loss or damaga and shall
state, to the extent possible, the basis of calculating the amount of the loss or
damage. If the Company is prejudiced by the failure nf the insured claimant
ta pravide the reGuired proof af loss or damage, the Campany's obligations to
the insurad under the policy shall tem�inate, including any liability ar
abligation to defend, prosecute, or continue any litigation, with regarc� ta the
rnatter or matters requiring such proof of loss or damage.
In additian, the insured claimant may reasonably be required to submit to
examination under aath by any authorized representative of the Company and
shal] produce for examination, inspection and copying, at such reasonable
times and places as may }�e designated hy any authorized representative of the
Company, all records, books, ledgers, checEcs, �ort'espon�dence and memo-
randa, wheth�r bearing a daTe before or after Date of Policy, wE�ich reasanably
pertain to tI3e loss or damage. Further, if requested by any authorized
representative of the Company, the insured claimant shall granc its permis-
sion, in writing, for any authorized represenEative of the �ompany to examine,
inspect a�d copy all records, books, ledgers, checks, correspondence and
memoranda in the �ustody or control of a third party, which reasonably pertain
to the loss or damage. All infarmation designated as confidential by the
insured dairnant pravided to the Company pursuant to this Section shall not
he disclased to others unless, in the reasonable judgement of the Company, it
is necessary in the administration of the claim. Failure of the insured claimant
to submit for examination under oath, produce other reasonably requested
information or grant permission to secure reasonably necessary information
from third parties as reGuired in this paragraph shall terminate any liabiliry of
the Company under this policy as to that claim.
�. OPTllOhl� 9'� 1�,41' OI� �T]HfE1RV6'I�E �E�'TLI� CII.��;
fi]Eltla9[if+I�'f➢OI� C�k' LIABI]LIT'',Y
In case af a claim under this policy, the Company shall have the following
additional options:
(�} �Cv �ay �� 7'��der 1Pa�y�p��nt of xhg �a���n�nt �f Il�s�����.
To pay or tenaer payment of the amount of insutance under this poiicy,
together witF� any costs, attarneys' fees and expenses incurred by the insured
claimant, which were authorized by the Company, up to the time of payment
or fender of pay�nent and which the Company is obligated to pay.
Upon the exercise hy the Campany of thzs option, all liability and
nbligations to the insured under this polity, other than to make the payment
required, shall terminate, ineluding a�y liability or ohligation to defend,
prosecute, or continue any litigativn, and the policy sha11 he surcendered ia
the Company for cancefla�ian.
(b) �'� Fay �r Otln�v�ise ��hhll� `'Vntln Pav�tn�s 04her 1Dran ttn� ➢rnsenre�l
or Vb'i�ln tlne IIu�s�n.r�dl �I�imrn�n4.
(i) To pay or otherwise settie with ather parties fqr or in the name of an
insure� claimanY any clairn insured against under this policy, togeiher with any
costs, attorneys' fees and expenses incurred by the insured claimant, whiCh
were authorized by the Company up to the time of payment and which the
Company is obIigated to pay; or
(ii} To pay or otherwise settle with the insureti elaimant the loss ar
da3mage provided #or under Ihis policy, Eogether with any wsts, aitorneys' fees
and expenses incurred by the insured claimant, which were authorized hy the
Company up to the time of payment and which the Corapany is abligated to
pay. Upan the exercise by the Company of either of the optinns provided for
in paragraphs (b)(i) ar (ii), the Comgany's obligations to the insured under this
po�icy for the claimed loss or damage, other thao the payments required to be
made, shalp terminate, including any liability or obligation to defend, pros-
ecute, or continue any LiEigarion.
i. DE'Il'�l��Illif�1'�OIY, ��T'E1�1"Il' O�' L,�.��1�.I�[`1''
�,l�dlf➢ Cz➢Il�'�Li]�xil�C]E
'Fhis policy is a contract of indemnity against actual monetary loss or
damage susiained or incurred by the insured claimant who has suffered loss
or damage by reason af matters insured against by this poliey and anly to Che
extent herein des�ribed.
{a) 'TtEe ]iabiliry of the Company under this policy shall not exceed the Ieast of: .
(i) the Amount of insurance stated in 5chedule A; or
(ii) the difference between the valUe of the insured estate or interest as
insured and the valuc af the insured estate or interest subject to the defect, lien
or encumbrance insured against by this policy at t�e date the insured Claimant
is required to fumish to Company a proof af lass ox dannage in accordance with
Secrion 5 of these Conditions and Stipulations.
(b) In the event the Amount of Insuranee stated in Schedule A at the Date
of Policy is less than �Q percent of the value oF the insured estate or interest
or ttte futl eonsic�eration paid for the land, whichever is less, or if subsequent
to the Date of Policy an impravement is erected on the land which increases
the value of the insureri estate or interest hy at least 20 pereent over the Amount
of Insurance stated in Schedule A, then this Poficy is subject to the following:
(i} where no suhsequenT imprvvennent has been z�nade, as to any partial
]oss, t�e Company shall only pay th8 loss pro rata in the proportion that the
amount of insurance at Date of Policy Uears to the total value of the insured
estate or interest aE Date of Policy; or
(ii} wk�ere a su6seqnent improvement has been r►aade, as to any partial
loss, the Company shalI only pay the loss pro rata in the proportion that 120
percent of the Amount of insurance stated in Schedule A bears to the sum of
the Amount of Insurance stated in 5chedule A and the atnount expended for
ttEe impravement.
The pravisions of this paragraph shall not apply to costs, attomeys' fees
and expenses for which the Company is liable under this policy, and shall only
apply to tF�at portion of any loss which exceeds, in the aggregate, l0 percent
of the Arr►aunt af Insurance stated in Schedule A.
(c} The Company wilI pay only those costs, attorneys' fees and
expenses incurred in accordance with Section 4 of these Conditions and
Stipulatians.
�. AP]PO7�"I'I�lr'�Ti�IEI�I^I'
If the land described in 5chedule A consists of two or more parcels Ehat are
not used as a single site, and a loss is established affecting one or more af the
parcels but not all, the loss shall be computed and setded on a pro rata basis
as if the amount of insurance under this palicy was divided pro rata as to the
value on Date of Policy of each separate �arcel ta the whole, exclusive of any
improvements made subsequent to Bate of Policy, unless a liabiiity ar vaiue
has otherwise been agreed upon as to each parcel by the Company and the
insured at the time of the issuance of this poli�y and shown by an express
statement or by an endarsement attached to this policy.
9. 1.1[�Tii II�.�'II'I�I�1 �1F L][�]13ILIITl'
(a) If the Company establishes the �itle, or removes the alleged defect, lien
or enc�mbrance, or cures the ]ack of a right of access ta or from the land, all
is insured, or takes action in accordance with Section 3 or Section 6, in a
reasonably diligenT manner by any method, including litigation and the
completion of any appeats therefram, it shall have fully performed its
obligations with respect to that matter and shall noE be liable for any loss or
damage eaused thereby.
(b) In the event of any litigation, including litigation by the Company or
with the Company's consent, ihe Company shall have no liability for toss or
damage until there has been a�na] determination by a caurt of competent
jurisdiction, and disposition of aIl appeals therefrom, adverse to the tide as
insured.
{e} The Company shall not be liable for loss or damage to any insureci for
iia6ility voluntarily assu�ned by the insured in settiing any claim or suit
without the prior written consent of the Company.
IlO.REIIDU]C'll'B0111 OF IIN�1J1�3A,Ii10E:
IBEIID�JC^f]fON O][8 ';�'EIB�lllti/�'I'II�iN �F' 1LYAi�BIll.IT�'
All payments �der this policy, except payments made for costs, attor-
neys' fees and expenses, shal] redace the amaunt of the rnsurance pro tanto.
Ill..I.II.�I�I�.II7`Y �i10N�11➢�1'lIiJ1LATlf��
IC is expressly understvod that the amvunt of insurance under this policy
shall he redueed by any amount che Campany may pay under any policy
insnring a mortgage to which exception is talcen in 5chedule B or ta which the
insured has agreed, assumed or taken subject, or which is hereafter executed
by an insured and which is a charge or lien on the estate ar intarest described
or referred to in Schedule A, arid the amounT so paid shall be dee►ned a payment
under this policy to the insured owner.
Il2.:FA�1VI]Ell�T OF I.,���
{a) No payment shall be made without producing this policy for endorse-
ment of the payment unless the policy has been lost or destroyed, in which case
proof of loss or destruction shall be fumished to the satisfaction o#' the
Company.
(b} When liabiIity and the extent of loss or damage has been defenitely
iixed in accordance with these Canditions and Stipulations, t3ie loss or damage
shall be payable within 30 days thereafter.
13.SllJ1�R�GA'll'I�fd Li�OI� �Al'➢!"�1EE➢�I'�' O]E� �E"A"�Il,�Mi E�'J['
(a} '�'i�� C��npavn�'s ]�vgl�a of 5u��bs�ga4i�rn.
Whenever the Company shall have settled and paid a ctaim under this
policy, ail right of subrogation shall �est in the �ompany unaffected by any
act of the insured claimant.
The Company shall be subrogated to and be entitled to all rights and
remedies that the insured clairnanE would have had against atay person or
property in respecF to ti�e claim had this policy nqt i�een issu�d. If requested
by the Company, the insured claimant shall transfer to the Company al] rights
and remedies against any person or praperty necessary in order to perfect tl�is
right of subrogation. The insured cIaimant shall permit the Company to sue,
compromise or settle in the name of the insured claimant and to use the name
of the insured claunant in any transaction or litigation involving these rights
or remedies.
If a paytnent on account of a claim does nat iu]ly cover ihe loss of the
insured claimant, the Company shall be subrogated to these rights and
remedies in the proportion which the �ompany's payrr►ent bears to the whole
arnovnt of the loss.
[f 1pss should result from any act of the ins�red claimant, as stated above,
that act shalI not vqid this policy, but the Compa�y, in that event, shall be
required to pay only that part of any losses insur�d against this policy that
shall eXceed the amount, if any, lost fa the Company by reason oi the
impairment by the insured claimant of the Company's right of subrogation.
(lb) Tln� Co�pra�y's l�igl,ts d►gai�st l�arm-I�s��saL" O�➢igors.
The Company's right of subrogatio� against non-insured abIigars shall
exist and shall include, without limitation, the rights of the insured to
indemnities, guaranties, other policies of insurance or bonds, notwithstanding
any terms or conditions contained in those instruments that provide for
subrogatian rights by reason of this policy.
Il4. A�I��I'�']��9'1��]
Unless prohibited by applicable law or unless this arbitratian section is
deleted by speciiic provision in Schedule � of this policy, either the Company
or the insured may demand arbitration pursuant to the Tide Arbitration Rules
or the American Arbitration Associatian. Arbitrable matters may include, but
are not lirr►ited to, any conEro�ersy or claim between the Cflmpany and the
Insured arising out of or relatir�g to this policy, any service of the Company
en connection with the issuance or the l�reach of a policy provision or other
obligation. All arbitrable matters wt�en the Arnount of Insurance is $1,�00,000
nr less Sf3ALL BE arbitrated at the request of either th� Company or the
Insured, unless the Insured is an individual person (as distinguished from a
corporation, trust, partnership, assaciation or other legal entiky). Ali arbi-
trable matters when the Amount vf Insurance is in excess of $1,OOQ0()0 shall
be arbitrated anly when agreed to by bath the Company and the insured.
Arhitration pursuant to this policy and under the Rules in effect on the daTe the
dernand for arbitration is made ar, at the option of the insured, the RuIes in
effact at Date af Policy shall be binding upon the parties. Tt�e award may
include attarrteys' fees only if tha laws of the s[ate in which the land is iocated
permit a co�rt to award attorneys' fees to a prevailing party. Judgement upon
the award rendered by the Arbitrator(s) may be entered in any court having
jurisdictinn thereaf.
The law of the situs of the land shall apply to an arbitratian unfler the Title
Insurance Arbitration Rules.
A copy of the Rules may be o6tained from the Company upon reqUest,
Il�.I.,l[A�BILIl �Ti' ]LIIe!Il[7'IEID 'Il'� 'A'➢�IIS ]P��.II��':
1��Il.d�� �NT1]R]E ��NT]R�A�'T
(a) �'his p��icy t�get3��r w�nti� alll endoa�s��e��s, nf �y, �tt�eched l�e��Zo
�by 4➢�e C��nparny is ttn� �s�4i�� pm�Scy and c�m4ra��t lbetew�� tDa� i�se��e�l ar�dl
4he �o�pany. IIrn �nhea�preti�g ar�y �p�ov�sn�� of tlnis �pmincy, 8➢�ns p�l6cy shal�
he �oeast��ed �s a evina�l�.
(b) Arny claimn �� �ass mr �a�nage, 6v�netln�r ox �ot �aseel �m u�eg➢i�ern�e,
��a� evlhneh mrns�s vut of tll�e statens of th� t�tle �� tlne es2a4e �� irnteres4
��a���-e� l�er�lby �r by any a��i�rn� assertnng svcl� �ll�ina, s�ha�ll �� res4ruet��
t� a��s �poln�y.
(e) �� ��emaDtu�ernt o'�ag �r����rs����at to alnis palney ��� �e �ade �xe��na
by a�siau�ng ee�d�rse�l In�v�on �r �ttaelhe� �e��ao sig�e�l bg eigln�r tln�
]Presidem4, � i/ic� PPesiderst, 21n� �e����ry, aa� Assnsta�fi 5e�a���a�ry, ��
valli��►�irng affic�r o� a�ntlhm�iz�al sngn�t��y o�i tllae �o�pa�ny.
][6. ���'El��#�III,IT�'
ln the event any provision of the policy is held ir�valid or unenforceable
under applicab]e ]aw, the policy shall be deemed not to inclnde that provision
and all other provisions sha]I re►nain in full force and effect.
Il7. ➢�lO�'ll�]ES, W�IIEIFE 5�1�Ia'
All notic�s required to }�e given the Company and any statement in writing
reyuired to be furnished the Company sha11 include the number of this poTicy
and sha31 be addressed to the Company at Chicago Title lnsurance Company,
Claims Department, 171 North Clark, Chicago, �llinois 60601.
��MPLI�UIiI� i'�OTIC]E
��oe�ld amy at�s�rn�g�e �rus� �b�u�� y�ur pv�m�iur� �r a'�o�nt a clavm tha�t you�
'��ve f�le�, contac[ �➢�e age�et or vvri�e tv tbe Co�np��ny th�t iss�ed tllte
paln�y. Ilf 4'he �e�-oble�e es a�ot �es�lveai, yo�n also rma� ev�iae tlhe Ter�as
�T9��p�r�ttu�e�t off �,nsn��a�e�e, �.�. B�� 149�1l91, .�#vs2��, 'ff'% 7�71a-9�91, Fax
1�1�. (512} 475-Ili9Il. `�'�ns rn�4ie� of eoan�pl2�iu�2 ]p�'vs�sf�r� As ff�r irnf�m�n�ti��
��sly au�d c1oes nml bee��e � pa�rt �� eant1i36�rn aff a�ns p�➢iey.
��� �l�I�����Jl ��l�l� �� 1 � J.�'1��J�� � ��1�'Il����l�l l� �i����
�-�oo-�4z��3�3
0
Sc�e�ull� A
OWN�R POLICY iVO. 44 0048 144 00014618
�ou�v� oF i�s��c�: � 62a,00a.00
PRSMrUM: $ 4,258.U0
1. Name of Insured:
DATS OF POLICY: November 30, 20�1 at 4:13 P.M.
�.�. �E�: ��-o0c�23i�-LET
THE CITY OF EORT WORTH, TEXP,S, A MUI3ICIPAL CORPOAATION
2. The estate or intere�t in the lanrl tha� is covex�ed by thig paXicy is:
F�E STI�PLE
3. Title to the estate or intesest in the land is insured as vested in:
THE C�'�Y OF FpRT WORTH, TEXAS, A M[JNICIPAL CflRPORATTON
4, mhe �and referred to in this poZicy i� describecl as foZlows:
LOts 1-20r 27-36� B1DCk 20f LOts 1-10� 15-24� B1dCk 232; LDtS 1-a.0� 15-24�
B1.00k 233; LOts 1-10, 15-24, BlOCk 23�; NOKTH FDRT WORTH �O�SITE COMPANY`S
SUBDIVISIbN of Nor�h. Fort Worth, 'Tazxant County, Texas, aCCording to PIa�
recorded in volume 2Q4-A, Page 117, Deed Records of Tarrant County, Texas;
Lots 1-10, of an unr�corded Subdivision of a portion of the F. G. MCJLLIKIN
SURVEY, Abst�act No. 1D45, as described in a deec3 ta Ireland Hampton, Trustee,
recorded in Vnlume 1314r Pdq� 154, Deed R�cords of Tarran� Countp, Texas;
Lats 1-8, Block C; Lo�s 1-6 and a po�tion of Lot 7; Block D; Lots 1-6, Block
B; LOts 1-10, Biack E; Lots 1-4, Block F; and Lots 1-11, BlaCk G; THE UNION
LAND CQMPANYrS FNDUSTft�A�, ADDITiON to �he City of Fort Worth, Tarrant County,
�exas, accox�ding to Plat recorded in Vo�ume 309, Page 75, Deed Recoxds of
Tarrant Caunty, Texas;
Lo�s 1-10, 23-32, B].ock 1; Lots 1-��, Block 2; INDUSTRIAT, Ai�DITI01� to the City
af Fort Worth, Tarrant County, Texas, according to f'lat r�corded in Volume
204, Page 1�1, Deed Recorcls af Tarrant Caur_ty, T�xas;
SAVE AL�TD E�CEPT that portian conveyed ta '�e��s Electric Service Company by
deed recorded in Volume 2570, �age 587, Deed Records o� Tarrara.t County, Texas,
mOGE'I`HER WITIi portions of stree�s and alleys closed an.d aban.daned by City of
Fort Worth ordinance No. 233b, a certified copy o� which is reCorded in volume
2db3, Page 112, peed Records of Tarrant County, Texas; Ordinance lvo. 2092, a
certa.�ied copy of which is recorded in Volume 1447, Page 505, and Qrclinance
No. 3416 iunrecozded);
TOGETHER WITH a tzaCt of land out of the F, G. MC7T,LZT�TN SURVEY, AbStraGt No.
1D45, Tarrant County, Texas;
A11 as more particularly described by metes and bounds on ��hibit ��A�� hereta.
CONTINUED
OTP
�
�
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��� �1��glx �d �a �i�r��s�ost e�r��x aY ��id daeri���x �y��ai.� �a�p�y tr���.
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� �o��r�t� ���Qt �t e�a l���enst ��r��� ��f 6�t 1� � �Eg�1� ��4 �! sa��
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�e�G t� � ���eree� sa��u�an�. �ad �eut�s �7 ie�re�s �a �3�ute� 8�t �o-���J1b0
Se�$ �� $����r�te mA�taaea�4 i� 4he sai��3� �g tF�� ��re� �.isa et 15�� 7 4� Sl��ia-
B�f �taie�. I�d ����ay��t 8ndu�t�da1 bdd�,Lion. �r+B S�+�t� 90 da���� 38 �t�
�t �o f�et e� � e�acr�ete �e�� �� R�� �t ���e �� s��� L�g � � � ����e�
no �e$t�ees 9G s�aute� �sat 7�S-?11� toot ea � �aacret� ���a� �t ��a , �
��u2�e�t g�r���:��! �a�d i�i 7, �nd ��rtl� �� d��P�e� �� ��t�g�� L�t lOD Z��$
��� � r�r�e���e �+�um��e. s�d S��t� �� ��R�'��� � a�.�ute�i �t 94-�J10 f��� � a
e��e��te .�an��nt m� tt�e �a�i�+e`nt coreer �� 1�8 1� sg Al�et� � �at �a�d �I��� •
&�nd C���mmaY'n ��d����I A6dit'��fl. �d S�u� �� ���r�a� 3� r�iw�t�� �� �'2 ,
��ag to m r�aeyet� ��eime�t, mrid ISart� �9 d8g���� '4k md�u��a �� �� S��Q �e��
��a�crrt� �a�ume�t, � �a�tl� �e �,r�r�ee� �i r��nuteo �t� �� a�� �alo� �f�e f��
I�� eC �e� if1. �ra E�pet� 1 ot ��duat�i�t �d�i����. 1p1-7/10 ���� L� �aa froa $a�
Q��r tt�e iPor�tf►��4 �nr��r �S �uid B�aeL e��v�Y�� �� ��d T�z� Bie�4�� ��r�td�Q
C���Y� .
�ENC� ��u4�h �� ���:ee� 5,� �s�es �Ta.�. �1�� 4iso i��rtlr i3A� �i �a#a '���
�a�$tixic S�r�s� �sp�ny tr���, G�T teee �� �a �Q� ��� B�r � r�eatrr�� ��s��r�
�� aai� tpaeta
��C�r �!3l�Z! �O �!$p!C$ i'����i aia� �[�a�he�see�°iy bSn� �t s�id gg�eg. a�
���X�l1�0 f��e, nt '��,� ��t ea a le�aia� �or��ratg �n�ne�at �.n� ��s���f�a9� ��
---.._e�u�$ . �],�� �3�eY���y-��� �� ��i� �er�d�n� Cy��#� ��mp�y ���t; • � -i� -�11
1994-6�i�Q0 ��ee 80 �s ������ee �au�egt �e e�' 8outt�e�s� �oz�t�r �t ��� d1��1�
ao �.a ����� r�� �rc�.
�3F�C8 �e�nt� �B �o�Y�e� �T��4 ��0 ��Qt t� � ��fl����� r�ss��� �8 s1� s�a�t��t
��a�u�° �f ��3d ���c1� �.
�B�C� i���L� �B dearee� ���t�. �1� 'eise �Tea� ��xa e� ���i,d �I�e� � � l�a�t���l�
i��o �f r�a.id ,�rie�� +Gytn�t� Ccr�@maY ��aet, 3Q� ���e t� �h� lY�e g�
���i�s� ar�8 eseta��� '�lriee9�sr�� � 1�i�e 14t�d�ee8 6�v��tq��t
���S�o�a�d�i� {39-�7�/10001 a�ra�, mo��e �r leB�.
- . ._�F3� - . • -� - -�:�.; , _ --:�; : : ��- -- -. . - - -, _,.. f,(: � .
= '" . ' . : = ; : '.. �, :� =��_':� � -�"` -•. . .`';'. :.ac ";� ... •�; �- : ^ .. .. :.... . .. .. ...r... ._.. .��. -
� . .'l'� . . '_ �- ` .3
� NQTE :' THE COMPANY DOES ND`I' REPR�SENT �THP.T THE ABQVE ACREAGE �R.
SQUARE FOOTAGE CALCULAT�ONS ARE CORRECT. :
, :'s . :�'., ,s �. -. . -- . . � ` � . - .. -
,
Sc�edau�le ]�
�,�
44 0008 100 00014618
DT-O�C42317-LET
EXCEPTIONS FROM COVERAGE
This policy does not insure against loss or damage (and the Company will not pay cost�,
at�orney's fees or expensea) that arise �y reason of the �erms and conditiong of the
ieases as easements insured, if any, shown in Schedule A and the �ollowa.ng zna�ters:
1. ����X��4'��1�/�'����'���`�7d'4�/��7fR�t�€���`�/F���������/����►����/��X��/����/¢���#��I�
i���������/������/�������¢��'����������$��������������i������3����1��0��r,�
r em No. 1 is hereby deleted.
2. Any discrepancies, confiic�s, or shortaqes in area or ba�ndary Iinea, or any
eneroachments or protrusians, or any overlapping of improvemen.ts.
3. Homestead or community progar�y or survivorr,hip righ�s, if any. ot any spou�e
of any insured. .
4. Any ti�les or rights asserted by anyone, inc].uding, but not limited to, persons,
the public, porporations, governments or other �sntities,
-a. ta tidelancls, or land� aomprising the shores or beds af navigable or
perennial rivez�s and streams, lakes, bay�, gulfs or oceans, or
b. to 7.ands beyond �he line oi the harbor or bulkhead linas as establishad or
chaz�ged by any government, o�
c. to filled-in lands, or artificial islands, or
d. to statutory water rights, inciuding riparian rights ox
e. to the area extend.ing from the Iine of inean low tide to �he 7.ine of
vege�a�ion ar the right$ of acceas to that a�ea or easemen� along and across
that area.
5. Standby fees, taxes and as�essment� by any taxing authori�y for the year a002
and subsequent years, and s'ub�equent taxes and assessments by any taxing
authority for p�ior year$ due to change in lanrl usage o� ownersha.p, but nat
thase taxes or assessments for priar years because of an exemption grantefl to
a grevious owner ofi the prvperty under Section 11.13, mexa� max Code, ar
because of Improvements not as$essed £o�r a previpus tax yea�.
6. '�he fol3.owing matters and a].1 terms o� the documents crea�ing ar offering evidence
nf the matters (The Campany must insert matters or delete this eaccept.ion.):
a. The existence of a sani�ary sewer thzoughout the property, as shown by files of
the City o� Fart Worth, pages 2048-396 and 2048-400.
b. Righ�.s o� Owners of existing railroad lines, i� a.ny, situated across subjeCt
praparty.
c. Easemen.t dated �vovember 21, 1912 grantecl to The Fort Worth Powe� & Light
CQmpany, recorded in volume 41.0, �age 105, Deed Records of Tarrant County,
Texas.
om
l
c.r.M.m��� nT-04c4231�-���
POLICY Ni7MBER:44 OQ08 100 ODD1467.$
SCiI�(�lll� g II ��011�1ri1b�[��
d. Easement dated March 7, 1914 gacanted to �'ort Worth Power & Light Company,
reaorded in Volume 373, Page 607, Deec1 Records of Tarrant County, �exas.
e. Easement dated December 17, �914 granted to Fort Worth Power & Light Company,
recorded ian V'olume 430, Page 1a5, Deed Records of Tarrant County, �'exas.
f. Easement dated October �.�, 1914 granted to Magnolia Petroleum Company, recorded
in Valume 431, I'age 289, De�d Records of Tarrant County, �exas.
g, iJtility ease�nents rese�ved iz� City of Fort Worth Ordinance No. 2�92, a
certified copy of which i5 recorrled in Volume 1447, Page 505, Deed Recorcl of
�arran� Coun.ty, Texas.
h. Easement dated February 5, 1953 qranted to Tarrant County Wat�r Control and
Impravemen.� I]ist�iGt Number One, recorded in. volume 254�, Page 35�, Deed
Records af Tarrant County, �exas.
i. Easement dated March 14, 1954 granted to Un.i�ec1 Gas Pipe Line Company, recorded
in Volume 258$, Page 335, Deed Records o£ Tarran.t County, Texas.
j. Reservation of all uranium, thorium and all o�her materials pursuant to the
Atomic Energy Act af 1946 as reserved �.n deed recordad in volume 2063, Fage
125, Deed Recards, Tarrant Coun�.y, Texas.
k. Natice o� the deposit of solid waste materials affecting subject property as
set farth in instruments recordecl in Volume 10�54, Page 1116; Volume 10Q54,
Page 11,20; in �olume 14054, Page 1126, T�eed Records, �rarrant Coun.�y, mexas.
l. xights of the publiG and others, in az�d to alleys in Blocks 20, 233, and 234,
NORTH FpRT WORTH T4WNSxTE COMFANY`5 SUBDIVISIQ1rT, not affeGted by abandonment
•-- of °stree�s and tharoughfares" described by Ordinance No. 2336 fa certified
copy of �nrhich is zecorded in Volume 20b3, Page 112, Deec1 ktecords of Tarrant
County, 'Pexas), and therefore no� subsequenkly cnnveyed by deed reco�dec� in
volume 2063, Page 125, Deed Records of Tar�ant Coun�y, Texas.
m. T�rms, canditions, and stigulations contained in any unrecorded lease
agreement,
�
cr.Nu�R nT-OOC42317-L�'r
POLTCX IWMBER:44 0008 10Q 00014618
�chedule � � (�o���nu�d)
n. Terms, conditions, and stipulation.s af City Secretary Contract No. 27252 by
and }aetn,reen Cytec Industries Inc., a Delaware corporation and The Ci�y a� �'ort
Worth, Texas, filed �ox reco�d an November 3D, 20�1, uncler Clerkrs File
No. D201294627,�ed Re�orcls of Tarrant County, Texas.
Coun
�---_ -------____�,___
�uth '�ed Signatory
�'it�r of �o�t T�orth9 �'e�as
���r� ��d ���r�+r�l ��r�m�����t���
DAT� Fx���RENCE NUMBER LOC NAME PAGE
_. - 1�114I00 �-� �Q�y I Q20PTlON I 2 of 2
suB��cr AUTHORIZATION �F AS5IGNMENT OF OPTION AND PURCHASE OF 33 ACRES,
MORE OR LESS, SITUATED IN THE NORTH FORT WORTH TOWNSITE COMPANYS
SUBDlVISION, THE UNION LAND COMPANY INDUSTRIAL ADDIT�ON, THE
INDl1STR�AL ADDITION AIVD PORTIONS nF TH� FELIX G. MULIKINS SURVEY, THE
M. BAUGH SURVEY AND THE AD�LPHE GDUNAH 5URVEY __ _. _
FISCAL INFORMATI�N/CERTIFICATION:
The Finance Director� ce�ifias that upan adoptian of the attached appropriation ardinances, funds will be
a�ailable in t�e current capital budget, as appropriated, of fhe Specially Funded Capital Projects Fur�d.
MG:k
0
Submatteci for City Manager's
Offce by:
Mike Groamer
Originating Department Head:
Mike Groomer
Add�tioaal rn#ormation Contact:
I FUND
I (to)
� 1 j GG01
6140 � '1) GG01
3) GC35
� 2&3) GC35
6i40 � (&am}
J 2) GG01
i 5) GC35
� ACCOUNT I
489306
saao7o
5ailao
472001
538070 0905500 $82D,D00.00
5�4100D 00201200i4Q0 $624,000.00
CENTER I AMOUNT j CITY SECRETARY
�
oso55oa �sza,aao.00 1 �����V�'�
0905500 $620,004.00 � �`�'��� "��'������AY
00201200100Q $620,000.00 �
oo2oizo0�oo0 �s2o,000.ao NOY i� �'Oap
David Yett 7606
�r�aut�� Or�i��an:;� ��„� l�
l�� � I���.�"1�
�iiy Se�s:: c'] LS3i Gf Rii f3
�lf'9 O� �UY� �'aOS'!lt4�'��X-', �
Adopted �r��nanc� N�e " ��' �• �
�
�
�
City of �ort �ort�h, T'exc�s
_ � �� ��fd _ ��n�l ���r������t;��
� �
�ATE � R�F�RENCE NUMBER LOG NAME PAGE
11/14/00 �o� 3a�� I __ 020PTlON I 1 0� 2
suB�Ec-r — AUTHORIZATION OF ASSIGNMENT OF �PTION- AND PURGHASE OF 33 ACRES,
� M�RE OR LESS, 51TUATED IN THE NORTH FDR�' WORTH TOWNSITE COMPANYS
SUBDfVISiON, THE UNION LAND CaMPANY [NDUSTRIAL Ai�DITION, THE
� II�dUSTRIAL ADDITiON AND P4RTIONS OF THE F�.LIX G. MULIl�CINS SURVEY, THE
� lVl. BAUGH SURVEY AND THE ADOLPHE G�UNAH SURVEY _ _
RECOMMENDI�TION:
It is recommended that the City Co�r�cil:
1. Adopt the attached supplemen�al appropriation ordinance increasing the appropriations and
estimated receipts in the General Fund by $620,044A0 from available funds; and
2. Transfer $620,04Q.C}4 from tF�e Ger�eral FundlNon-Departmental to the Sp�cia[ly Funded Capital
Projects F�nd; and
3. Adopi the attached appro�riation ordinance increasing the appropriafions and estimated recei�ts in
the 5p�cially Funded Capital Projects Fund by $62Q,QQQ.�D; and
4. Approve the assignment af ar� option to purchase 33 acres, more or less, ir� the North Far� WortE�
Tvwnsite Companys Sut�division, the Union Land Company lnd�strial Addition, the Industrial
Addition and pa�tions of the Felix G. Mulikins Survey, the M. Baugh Survey and the Adolph�
Gounah Survey; and
5. Authorize #he City Manager to exec�ate all necessary documents to purcf�ase approximately 33
acres in the North Fart Wortt� Towrtsi#e Companys Subdivisivn, the U�ion Land Company Industrial
Addition, the Industria! Addition and portians o# the Felix G. Mulik�ns 5urvey, ti�e M. Baugh Survey
and the Adolphe Gounah 5�arvey from Cytec lndustries, Inc. for $G20,OOO.flQ.
DISCUSSIDN:
City staff recommends that the Cify Caur�cil autF�orize the purchase of approximatefy 33 acres in the
Narih For� Worth Tow�site Companys Subdivisian, kh� Union Land Company Industrfal Addition, the
Industrial Additlon and portions of the Felix G. Mulikins Survey, the M. Baug� Survey and the Adolphe
Gau�ah Sur�ey for economEc development,