HomeMy WebLinkAboutContract 27132C.tTY S�CR��'A�Y ,-� * � �
C4NiRACT i�C� . - �,.,� w
DEVELOPER'S AGREEMENT
BETWEEN THE CITY OF FORT WORTH
AND �COTT COMMUNITIE� DEVELOPERS LIMITED PARTNERSHIP
FOR BQNDS RANCH
This Developer's A�reement for Bonds Ranch (the "Agreement") is made as of the ���-
day of O� , 2001, by the City o�' Fort Worth, Texas (x`City") and Scott
Comrnunities D�v�lopers Limited Parinership, a Te�as lfrnited partn�rship ("D�veloper").
WHEREAS, Developer proposes to develop (z} approximaiely 656 acres of land (th�
"6S6 Acres"} f1�at it anticipates purchasing; and (ii) approximatel� 1,Sb7 acres of additional lanc�
(the "Option Land") that Developez alsa anticipates purchasing. The 656 Acres and the Option
Land are collectively refe;t7red to herea.fte� as the "Project", wYuch is descrihed in its entireiy in
Exhibit "A" a#tached and incorporated herein, Tl�e 65b Acres are described on E�ibit "�"
attached and incorporated herein. The "Option Land" consists of all property described in
Exhibit "A", except for the 656 Acres described in Exhibit "B"; and
WHEREAS, Dcveloper desires �hat portions of tbe Project be annexed from time to time
into the boundaries of City, on ihe basis set forih below, and be developed into a primarily law-
densit3+ s�ngle-�amily residential develapment �with limited neighborhood-serving commercial
us�s; and
WHEREAS, Developer may elect to develop sonae ar alI o£ the single-family reside�tial
portian of ihe Projeet as gated corrimunities with private streets constructed in accardance wi�h
City standards and maintained by private sources; and
WHEREAS, becaus� o�c�rtain a�tributes of.the Project, City has a substantial interest in
the develapment oithe Project; and
WHEREAS, deve�opznent of the Project, pursuant to the tenns vf this Agreement, as a
primarily sin.gie-�amily resident�al development at an average density of no mare than three
residen�ial ux�its per acz-e will create a valuable addition to Ciiy, will enhance the tax base a� City,
is in the best interest of the pubIic, and will otherwise benefit City; and
WHEREAS, tl�is Agreement was approved on October 16, 2001, by the Fort Worth City
Council {Mayor and Council Corntnunication C-18801);
NOW THEREFORE, in exchange far fh� mutual covenants, conditions and promises
containec� herein, City and Developer agree as follows:
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1. PLATTING
(a) A revised concept plan For 2,223 acres (CP-01�003) which is attached
hereto as Exhibit "C", consisting af a portion of the property inciuded in CP-99-003 (previously
approved by the Plan Commission on June 23, 1999), was approved by the Plan Commission on
July 25, 2001. A revised prel:i�inary plat far Lago Vista at Bonds Ranch, PP-01-018, c�nsisting
of 772 dwelling units on 656 acres was al�o approved by the Plan Cammission an July 2S, 20Q1.
A portion (492 acres) of this �'evised preluninary plat was prev'iously approved by the Plan
Cor�mission on Jun� 23, 1999 as PP-99-035. A final plat for an 82.Oa3 acre portion of th�
Project, FP-01-020 {the "Lago Vista Plat") has been approved and was filed in th� Tarrant
County �lat records on May S, 2001. The final platted area is consistent with the prev7iausly
approved preliminary plat (PP-99-D35) and the revised preliminary plat (PP-41 �01 S) approv'ed by
th� Plan Commissian on July 25, 2001. A legal description af the lots wifhin the Lago Vista
Plat has been provided as Exhibit `B-1", which is attached and incorporated he7'ein. Final plats
for the rernainder of the 656 Acres shall be submitted i.n accardance with Section 3(a).
(b) Puxsuan� to Chapter 212A of #he Texas Local Government Code,
Developer will make application from #im� to time far approval by the Plan Commission of one
ar more new preliminary subdivision plats (the "New Plats") for portions of �he Option Land it
acquires, which shall be in reasonable and general conformance witY� the concept p�an attached as
Exhibit "C", or any amendments to such concept plan approved by the Pian Comrnission in the
futuxe (the "Cancept PIan"}. The New Plats shall be subrnitted in accordance with Section 3(a).
{c) Tn connection with appraval of all final plats, Developer agrees (and City
staff will recommend) tk�at City and Developer shall enter inta one or more Cornmunity Facilities
Agreements whereby Deveioper will make certaiz�. subdivision improvements cansistent with the
City's written policy £or installation of commuz�uity facilities, except as such policy rnay be
modified by the terms hereof.
(d) All purchasers o� any portion of tkxe 655 Acres or the Option Land acquired
by Developer shall be bound by the terrns of this Agreement, p�suant to Sectian 8. Fili�g o£ a
final plat for any remaining part of the 6S6 Acres and approval. of alI New Plats shall be
conditioned on execution by Developer of an amendment to this Agreement reflecting a revised
and rnore accurate description for thE platted property, which amendment shall be filed by City in
the Tarrant County property records.
2. SUBDIV'ISION �MPROVEMENTS
(a) Prior to acceptance of dedication/ma.i.ntenance of subdivision
infirastructure by City on each partxan of the Project, Developer, at its sole expense, will make
an-site street, drainage, water and sanitary sewer improvements to such portion of the Project in
accordance with Community Facilities Agreements e�ecuted by the parties.
(b) During the course of making the impr�vements, City will be granted
access to the Project and vcrili have the right ta inspect the work.
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(c} Upon eompletzan by Developer and City inspection and approval of the
improvements for a portion o£the Praject, and upan the annexation of such portion of the Project
in aecordance wi#h Section 3, City will accept public dedication and maintenar�ce of such
infrastr�tcture and will then serve the residents of suGh portion of the Project with water and
sanitary sewer service at standard City rates.
(d) Develo�er will meet tk�e standard dedieati4n requirern.ents and
develapment raquirements for comrnunity at�d neighborhood park dedicatian applicable to
de�elopments within �he city. 7f Developer exceeds dedication andlor development requirements
for one oz� more phases of the Praject, Developer may reduce the axnount of land and funds it
dedacates for the develapment of parks, as applicable, fbr subsequent phase{s), provided that the
cumulative amounts of land dedicated for parks a�ad fixnds paid for park development are in
compliance vvith park polacy applicable t� developments in tl�� city.
{e) Develaper agrees that each portion af the Project shall be develaped in
accordance with the City of Fart Worth ordin�ces and development and cons#ruction standards
existing at ihe time such portion af the 1'roject is develo�ed, ur�less otherwise provided by this
Agreement, pro�ided, however, �xathing herein s�ia�i be deemed ta modify or negate any vested
ar p�e-armexation rights Developer may ha.ve with regard to the praperty that comprises the
Proj ect.
(� The pa�ing cross section detail shown on Exhibit "D" atiachec� hereto and
incorporated herein by reference shall bE an allowahle paving specification for all private streets
within the Pxaject which abut residential Iots with a rr�ini�z�m lot size of one-half acre. Al.l ather
residential subdivisions shall xneet the City's standarc� paving consiruction specifications.
3. ANNEXATTON AND ZCINING
(a) Prior to connecting Developer's water or wastewatez system for any
portion of the Project to the City's water system, Developer will petition for annexation of such
portion of the Project by City pursuant to �k�apter 43 0� the Te�as Local Gov'ernment Code.
Developer will petition �or annexat�on of the 82.QD3 acres covered by the Lago Vista Plat and
approx�mately 53.319 acr�s identified on Exhibit `B" attached hereta and incorporated h�rein by
reference (fihe "Phase 1$ Land") withzn 3� days after e�ecution of this Agreement. The City will
designate any additiortal property that may be required fia be annexed to c�mply with Chap�er 43
of the Local Gavez�.ment Cade. Therea#�er, prior to or concurrently wit�. the submission of a
final subdivision plat for any rema.ining portion of the 655 Acres, Develaper shall submit a
petitivn ta annex the property that is the subject of such �i��al plat. Prior to ar cc�ncurrenfly with
the subnais�ion of a�reli�inary subd�ivision plat for any portion of the Option Land which is
acquired by Deve�oper, Develop�r shall submit a petition to annex the property that is the subject
of such preiiminary �lat. Upan receipt of each such aiu�exat�on petition, #he City Council will
schedule fhe required public hearings ax�d will consider the annexation request. City staff will
recommend approval of each proposed annexation, provided Developer is in compliance with all
iErms af this Agreement. �iith the exception of homes construcied on one-acre lots in the area
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covered by the Laga Vista Plat, Developer shall nat commence canstruction of any enclosed,
habitable commercial, industriai ar residential bui.lding until the property vn which �Iie building
is located has been annexed �y the City.
{b} Notvwithstanding anythin.g to the cvntrary contained herein, in the event
City fails ia approve Deveiaper's annexation petition for a portion o� the Project �c�vithin six (�}
months of its original submission, Developer may w�thdraw su�h annexatian petition and/ar any
associated zoning petitions and may cammence canstruction arid developmen# of any
commercial, industri�.l, or residential buildings or structures on such portion of the Project it
chooses, subject #o any regulations and/or ordinances thai would oth�rwise appl� to such
construction ar d�velopment in the absence of fhis Agr�ement, an.d pravided that City shall
retain all annexation authority a#herwise granted by lavtr. In the event Developer wifihdraws its
annexatian rEque�t for any portion o�the Project pursuant to the tenms of this Section 3{b), this
Agreement shall continue to remain in full force and e�fect with respect ta the remaining portions
of the Project to th� extent practicable.
(c) Concurxent with petitio�ing for annexation af each portion of the �roject,
Developer wi11 f te an application requesting that such portio� af �tY►e Project be zoned for mix�d
use develapment consisting primarily af 1ow-density single-�arnily residential development and
limi�ed neighborhoad-serving comFnercial uses, consistent with th� Concept �la.n. The number
o:� residential units will not exceed an a�erage of three residential units per acre based on the
entit'e gross acreage of the Project. Subject to zoning approval by ihe City Council, portians of
the Project may be developed with more than three residential ucuts per acre, p�rovided that the
cumulative average density for ali land for which a�nal plat has been approved and cons�ruction
has commenced does nat exceed three xesidential units per acre at any tirne.
4. WATER AIVD SANIT�RY SEWER FACILITTES
(a) D��eloper will submit a comprehensive water and wastewater master plan
for the Project to the City's 'Water Department within 30 days after the effect�ve c�ate of. this
A,greement. Upon xeview by �he Water Department, T)eveloper will modi�y such plan, as
needed, to comply with the Water Departmenk's design criteria axxd extension policy.
(b) Th� City will canstrue� a 16" water main approximate�y 7200 f�et in
lengfi� xn and alang the right-of-way af Bonds Ranch Road from Boat Cl�zb Road to t�ie entrance
of Lago Vista, as shown an the Laga Vista Plat, and cor�nect the line with the existing 12" line in
the right-df-v�ray of Boat Club Raad {"Phase 1" as shown on E�ibit "�"' attached and
incozporated by reference), City wiIl cammence construetion o� such 16" water main upon
receip� of the water and wastewater master plan referenced in paragraph (a) above.
(c} The City has constructed a 36" watar mazn aiong Bonds Ranch Raad
termznating approximately 1%x miies east oi U.S. Highway Bus. 257, as shown on Exhibii "F°°
attached and incorporated by reference (the "36 Inch Main"). The City will construct a wat�r
main along Bonds Ranch Road from the 36 Tnch Main.'s current point af terrr�ination to the 16"
water main referenced in paragraph (b) above to fully serve the water �volume needs o� the
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Projecf and other surrounding develapments {"Phase 2" as shown an Exhibit "F" attached and
incor�arated by ref�rence}. Cify shall commence the design. of such vt+ater ma.in after Dev�laper
extends off-sife grav:ity sewer main ta the dwelling units in the area covered by the Lago Vista
Plat, and shall begin cansiruction of the water main after tlae City has acquired approa�imately 100
water cnstomers in such area. In no eveut will constructioz� begin prior to the design phase
pxerequisite being met.
(d) P�iar to the City's development of adequate water system infrastnteture to
serve #he Northside 4 Pressure Plane, Developer shall construct at Developer's expense any
interirn water system infrastrueture that is necessary to provide adequate water pressure to areas
of the Praject in the Northside 4 Pressu�e Plane. Additionally, upon the request of the City,
De�reloper shall dedicate up to but no mar� than ten contiguous acres of land then ovcmed �y
Developer far a wafer stozage faciiity, provided the requested location and acreage is reasonable
in light qf the City's water storage needs,
(e} Develop�r, at no expez�se to the City, shall cansf�'uct all internal water and
wastewater lines and connectians to serve all lots in the Project based on the Water Department's
design criferia, i�cluding those lofs that Developer intends to initially develop with an-site water
w�lls andlar individ�ial wastewater systems.
(f} Upon receipt o� Developer's compz'ehensive water and wastewater master
plan and approval of the plan. by tIae Water Department, fihe City shall begix� an expansion of
e�isting wastewater lYft stations along the south side of Boat Club Road su�ficient to meet the
wastewater needs of the J'raject.
{g) Developer acknowledges tbat a maximum af 66 houses with net ane acre
lots wi11 be consixucted in the axea covered by the Lago Vista Plat wit3z on-site wells and on-szte
wastewater systems. �'rior to annexatifln of the area cavered by the Lago Vis�a Pfat, Developer
s�all pay the current city tap ancilor irnpact fees for each de�eloped or sold lat within sueh plat.
The purchasers of all sucb homes ox lats shall connect their property to City sewer at�d water
systems after Developer installs the water and sewer rxiains and tags and after thes� systems are
connected to the City's system. Deveioper shall notify each purchaser at clos;tng that water and
sewer plumbing reroute and pertnit cost is the purchaser's responsibility. LTpon connection of a
home to the Ciiy waier systern, the property owner may continue to use the on-site well for
irrigatian purposes only and sha11 discaz�nect the well from plumbing in accordance with City
codes. The City has no obliga�ion to exte�d water and sewer to atay of su�h houses without
payment afwater and sewer impact fees and rraeter deposits.
(h) Far all lois ather than those located in #he Lago Vista Plat, water and
sewer impact fees and meter deposits sha11 be paid to the City in accordance with standarci City
policies at the time each buildimg pertnit is issued.
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This Agreement shall tertninate 15 years after the effective date of this Agreement or on the
expiration of a 24-month period without the filing of a final plat for a portion of the Project,
whichever occurs first.
6. APPL�CAB�L�TY
This Agreement applies onl� ta t�aose portions of the 6S6 Acxes and the Option Land acquired by
Devel.oper. Developer shall notify the C�ty Manager in writing, wzth a copy to the City Attorney,
wifhin 30 day after purchasing any portian of t}ae 656 Acres or �lie Option Land. �f an aptian fio
purchase all or any part of �ie Option La�d terminates or expiures, Developer shall notify #he City
Manager in writing, with a copy to the Ciiy Aitorney, witk�zan. 30 days.
7. AUTHORITY
City and Developer represent that fihey have fitll power, authority and legal right to execute,
deli�er and perform their obligations pursuant to this Agreement. Developer acknowledges �hat
approval of the New Plats is within the sole juris�diction of the Plan Comxnission, the requests to
zone the Project far mixed (primarily Iow-density single-family residential) uses are subject to
consideration by the Zoning Commission and approval by the City Council, and annexatio�
ordinances and Comxnunity Facilities Agreernents are subjec� to approval by the City Gouncil.
Nathing in �us Agreement guarantees #'avorable decisions by �he Plan Commission and the City
Coun.cil; p:rovided, however, City staff will support Develaper's applications on the terms set out
herein.
S. TRANSFER
(a) With the exception of the following four {4) sit�xations, Developer shall
not convey title to any portion of the P�o�ect �efare such property is annexed by the City wifhoufi
�he City's written consent: (i) Developer may convey titl� to th� Phase TB Land and the 6b
resi�ential one-acre lots in the Lago Vista Plat; (ii) Developer or th� awner {or its respective
lessees, successors or assigns} of any oil, gas or, other rnineral intErests i.n, on, or under any
portion of the Project may enter inta agreements, contracts or leases with third parties for the
axpl4ration, drilling, or mining for, o;r ihe develaprnenfi, �traction, praduction or marketing of
any oil, gas or other mineral interests faund in, an, or under any portian of th� Project and may
convey any and a11 rnineral interests or property necessary thereto, (iii) Develop�r znay canvey
title #o any portion of the Project to an entity or tn�st ir� which Steven �. Robson has a 25'% ar
greater ownership or beneficial interest, respec�ively; and (iv) De�velaper rnay convey title to any
portion of the Proj ect for which Developer has withdrawn its arinexation petition �ursuant to
Section 3(b).
(b) Deve�oger rnay convey title to any portion of #1�e Project after such
property is anne�ed by the City without City's consent.
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(c) AIl purchasers of the praperty covered by this Ag�reement shail be t�aund
by all terms of tlus Agreemeni and sha.11 he bound to perform Developer's obligations hereu�der,
which shall run with the land. Developer warranis and agrees that it will require purchasers of
auy portian of the Project to execute an assumption of all obligations hexeund�r as part of such
cvnveyance. �
9. OIL, �AS, AND 1V�INERAL INT�RESTS
Notwithsfianding anythin� to the contrary contai�ned in this Agreement, nathimg herein shall be
deemed to prohibit the owners of any oil, gas, and mineral interests in, on, or u�der any portion af
the Project, and/or their lessees, successors, or assigns, �Z'om engaging in ihe exploraiion, drilling,
ar mining for, or the d�velopment, extraction, production ar marketing of any such oil, gas or
other minerals fou�d in, an, ox unde:r any partion of the Project if such activities axe commenced
on such portion of the Project prior ta annexation by the City. If a portion of the Project has been
annexed by the City priQr to the comrnencement of any of the aforementioned activ'ities thereon,
all such activi�ies on such.portion of the Project shall be conducted in comp�iance with the City
orc�inances which govem such activities. The terrns of this �ectian 9 shall survive the ternunation
or expiration of this Ag,reernent. -�
l. 0. I7NENFOI�CEABIL�TY
If any part, term' ar provision af this Agreemeni is held by the cou�ts to be illegal, invalid or
otherwise unenforceable, such illegality, invalidity o� unenforceability shall not affect the validity
of any other pat�, term ar pro�ision, and the rights of the parties will be construed as if the part,
term or provisiox� was never part of the Agreement.
11. INTERYRE�ATION
The parties to this Agreement covenant and agree that zn any liti�ation reXating to this
Agreement, the terms ax�.d conditions o� the Agreement will be interpreted according to the laws
of tt�e Stat� of Texas. T�.e parties acknowled�e that they are of equal bargaining power and that
each of then7, was represented by legal counsel in the negotiation and dz�afting of this Agreement.
12. ENTIRE AGREEMENT
This Agreeme�t constitutes the entire agreement between the parties and supersedes all prior oral
and written agreements beiween said parties.
13. C4UNTERPARTS
This Agreement may be executed in coun�erparts, each ofwhich shall constitute an or�ginal, and
all of wluch, taken together, shall constitute a single, binding agree�nent.
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Executed as of the day and year �rst above wriiten.
ATTEST�
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G oria Pear on
City Secret
APPROVED AS TO FORM AND
LEGALITY
�t/L�-e�PG� C�
arcella Olson �
Deputy City Attorney
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THE STATE OF �1i[1a�lA'
COUNTY OF
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CTTY OF FORT WORTH,
a Texas muni.cipa.l c�arpora�ion
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By. .
Mik� Groomer
Asszs#ant City Manager
DEVELOPER:
SCOTT COMMUNITIE5
DEti'ELOP�RS LIMITED
PARTNERSHIl'
By Scott Communities, L.L.C.,
Zts general partner
By: -�- • � _- -
Si�n Robsy�n, Member
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By� - �-��
Je e Flores�mber
BEFORE NiE, the undersigned Notary Public in and for said county a.rxd state, on this day
personally appeared Steven Robson, known to me as the person whose nam.e is subscribed to �he
fbregoing instrument and acknow�edged to me that the same was the act of such person and that
he executed the same %r the purpases and considerativn therein expressed, and �in the capacity
therein stated.
;
�� day of �''
GNEN UNDER MY HAND AND SEAL OF OFFICE, this ,
2001. �
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��uaz�n� �a e� -�ii4"d'�°I� Notary Pubh� and ar t State of �A-
���g ���� My commis expires• � -��y;
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THE �TATE OF e�•lt�-
COUNTY OF ����.r�
BEFORE ME, the undersigned Notary Public in and �ar said county and state, on this t�ay
personally appeared J'esse Flores, known to me as the persan whose narne is subscribed to the
foregoing instrurnent and acknow�edged to me that the same was the act of such person and that
h� ex�cuted the sam� for the purposes and conside;ration fiherein expressed, and in the capacity
therein stated.
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GNEN UNDER MY HAND AND SEAL OF OFFICE, this �� day of ,
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Nnta�+ t'ub][c � 5f� u� Arl�na ; /�
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THE STATE OF TEXA.S .
COUNTY OF TARRANT
BEFORE ME, th� undersigned Notary Public in and for said ca�mty and state, on this day
persanall� appeared Mike Groomer, lrnown to me as the person whose name is subscribed to the
faregaxng instrument and acknowledged to me that fhe saxr�e was the act of such person and that
he executed the same %r the purposes and consideration therein expressed, and in the capa.city
�erein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE, this %� day of �����.rr�,z,�.ry ,
2001. �
�2�,4�YP�j� ROSELLABA�NES ���• ,�'�.�—
�,q���, NO�'AV�Y PUBLIC Natary Public in. and for the State af ���-.
��w Stat� ot i`exas �y COTTlilli551011 EX�]1T�5: �i�si�, �` ��o`�vv.5�
,'"oF �� Camm, Exp, q3-3�-2005 ,
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After recordixag, retum to:
Marcella 41son
Department af Law
City of Fort Waz�th
i 000 Throckmo�tan
Fa�rt Worth, Texas 76102
Il . \�I.IIIII:� IfII :1
B��NG a trocf of lond silualed in Ihe R. GANGARA SURVFY, A6slracl No. 563, !he
A[.�'XAND�R, GRAlN, NARRlS and BROOKS SURVEY, Abslrocl No. 55, Ihe T. ond
P. R.R. Co. SURVEY, Ahslrac! l5E8, llre J. WlLCOX SURVEY, Abslracl No. 1722, !he
Y. SAMORA SURVEY, Abslrvcl No. I.�85, ihe J.P. SMlTH SfIRV�Y, Abslrocf No.
l9IE, !he J. NOLT SURVEY, Ahslracl No. l892, and Ihe h?.�.P. and P. R.R. Co.
SURVEY, Abslracl No. lI38, siluaied in 7arron! Gaunly, Texns and berng a porlian oi
!ha! lracl ai lond as conveyed lo JohR Millord Bonds 6y deed recorded in Volume 8945,
Poge 1547 of Ihe peed Records ol Tarrnnl Counfy, Texas fDRTCT 1, being fhose snme
iracls ol land us descri6ed in deed fo Nicks Road Inveslors, ��d. , recorded in Volume
l3887, Poqe 68, aRTCT and being mare parlicularly described as {OIIOWS �
BEGINNlNG nl Ihe norfhwesf tarner of said PQrce! P i� !he eosl line of 8oa1 Club
Road fF.M. Hwy. No, 12201 and rn Peden Road lCourrly Rood No. 4Q381�
TNENCE olnng fhe norlh li�e of Parce! P of said 8onds Irocl, in said Pedea Road, �he
. following+ �
S 87.36'54' �", a dislanre of 256.39 feel�
S 89.08'Oj' E, o drslance nf l930.56 %el,
S OD.O!'09' E', n dislonce of 17.81 feel7 ,
S 89.52'S8' F, al a disla�ce of 5293. B3 feei passrng !he narlheus! corner of said
Parcet P and �he norfhwesl corner of Tracl No. 4 os descrided rn deed lo Texas
Eleclric Service Company, recorded in Volume 2542, Poge !, �RTGT, canlinurng
0 lolo! disfance of �OF82.60 feel 1a Ihe rtorlheasl corner of Parcel J of said Bonds
Iracl f
TNENGE S 00.16 30' W, Ihe easl•lirte ol said Parce! J and Parce! G of said Bands Iracl,
o dislance of 2983.30 feel,
7'N�'NC� N 85.50'4D' 44�, a dislnrtce of 200.00 feel r
TldENCE S 00.09'I9' W, o dls�ance ot l641.81 feel lo lhe saulh line of 8ands Ranch �_
Road 1120' R.O.W. 1,
TH�NCE N 89,56 `47' E, nlong Ihe souih lirte af said Bonds Ranch Road, a dislonce of
l9S.z6 fee� !o !he norlheasl carner oi said Nrcks Roed lrtveslors, Lld. TRACT I,
THENCE S 00.12'I5' W, depariing fhe soulh Irne of soid fiortds F7oncf� Road, alo�g !he
easf liae ol soid Hicks RoQd �nveslors, Lid. TRAC7 1, a dislarrc.e of 5449.4� fee! lo Ihe
soulheasl eorner af suid 1-�itks Road lnveslors, Lid. TRACT I,
TNENCE N 89.10'42' W, aloag ihe soulh Irne of said Nicks Raad lnveslors, LId,
TRACT 1, a dislance af 2625. 79 feel,
TN�'NCE S 00.30'34' W, deporling Ihe soulh �ine of said Nicks Rood Invesfars 7'RACT
!, lraversing a lrncl of land as described iro deed io Texns Eleclric Service Gompony,
recorded in Volume 5865, Page 414 8 Vo�ume 2542, Poge 1, DRTCT, al a dislance o!
439. 7! feel passing Ihe saulh line ol soid Texas Eleclric Service Compa�y lrncl and !he
narlheasl corner of said Nicks Road l�veslors, Lfd. ta!!ed 47.242 acre iraci, cor�llnuing a
lolal dis�ance of /324.58 feel fo 1he soulheasl corner of said calied 97.242 ocre frocl,
TMENCE N 89.39'!9' W, nlong !he saulh line af soid ca!!ed 47.242 ocre lrac�, a dislance
a( 2298.l9 Ieef lo fhe soulhwes� corner of said called 47.242 acre fracl�
THENC�' N PO. �3'q9' E, a dislnnce af 904.31 feel lo Ihe norlhwesl corner of said cnHed
47.242 acre fracf,
TH�NCE N 00.08'07' F, a dislonce of 439.45 feei la !he soufhwesi carner of said Hicks
Road lnveslors, t�d. TRACT !,
T!-l�NCE N 00.l0'44' E', nlong Ihe wesl Jine of snid Hicks Raad lnves�ors, Lld. TRACT
I, o rlislance oI2B7.99 feel ia ?he 5aulheasl corner ot said Texas Eieclric Service
Company Troc! Na. 4,
TH�NCE N 89.33'p2' W, along !he soulh iine of suid Texas Eleclric Servke Gompany
Tracl 9 o�d 1he soulh lrne of Porce! N of soid 8onds �racf, o dislance o/ 3395. 61 feel fo
Ihe savlhwesf corner of soid Parce! N in the easf line of svid Bonl Club Road,
TNENCE N 13.28'52' W, along Ihe wesl line of sold Parce! N and !he eas! lfne of seid
8oal Clvb Road, a disfance ol 2222.32 feel 1a flre interseclian of }he easi lfne of said
Boal Club Road, with !he soufh Iine of said Nicks F7oad,
T�-lENCE N l3.25'47' W, o disfance of l2D. 00 feel to !he inlerseclion ol fhe eosl line of
sald Boel Cluh Rood, wilh Ihe narlh !!ne of said Hicks Raad,
THENCE olang Ihe wesl line af Anrce! Q of said Bonds frac�, fhe wesl line of said Parce!
P ond lhe easl Gne af said BoQ! Club Raad, !he following�
N l3.30'45' N/, a dislance of 546.OB feel 1a ifre !'aini af Curvalure of o cifculor
curve to the Iefl hoving v rodi�s of 29l4.50, o ce�lro! angle of 14.30'54' and being
sublended 6y a chord whfch bears N 20.45'31` W, 736.32 feeif
Norlhweslerly alor+g snid curve fo fhe lafi, o disiance o/ 738.29 feel lo !he polnl o!
longancy,
N 28.00'56` W, alang Ihe ensl line of soid Boo! Clvb Rood, a dislance of 6535.41
/eel b the POIIYT OF B�G1NNlNG and canlainin� 2223. 055 acres ol land,
more or less, SAVE 8 EXCEPT fhe rexos �lecfrie Servite Gompony Iracls
recorded in Volume 2542, Aage I, DRTCT, Volume 6865, Page 4J4, DR7'G7'
and Valume 2542, Page 1. DRTCT and Ihe 8onds Ranch Road Righl-Ol-YVay. .
, � �
IE�I��I[' ]�
rR.acr r
BEING a lrac! ol land s�laaled in 1he Romon Gongaru Survey, Abslrac! IVo. 56,3, Ihe
Alexonder, Grain, Narris and Brooks Survey, Abslrocl No. 55 a�d Ihe Fexos 8 Pnciflc
R�ilroad Compony S+�rvey, A6sfracl No. l568, Tarranl Counly, Texas, being a!ha! same
lrac! of lond l TRACT 11 as describe�! in deed lo Nicks Road Invesfors, Lld. , recorded fn
Volume 13887, Poge 66 al !he Deed Record ol Tarronl Counly, Texas (DRTCT J and being
more parliculorly described as follaws:
BFG�NhlING a! the lnlerseclion of Ihe sovfh line of 8o�ds Ronch Road 1120' R. Q. W. per
Rrghl-Of-VYoy Porced A, Volume I3449, Page 39, DRTCT 1 wilh �hs wesl line of sard Nicks
Road lnves�ors, Lid. 7RAGT J arrd !he easl Iine af a lrucl of Innd (7'rncl No. 4 J os
descrlbed in deed lo Texas Eleclr.ic Service Compony, recorded in Volume 2542, Poge
!, DRTCT, 6eing fhe pofnl of c�rvnlure of o curve lo Ihe righl, hoving a radrus o1 f440
feel,
TNENCE IVorfheaslerly, along fhe sovlh lrne soid Sonds Ranch Rovd a�d said curve !a
the rlghl an arr lenglh of 239, Ol feet, hovrng o chord af N 85.1I 29' E, 238. �4 feel fo 1he
ppinl of langency�
TNENCE N 89.56'47' E', along Ihe soulh line of snrd b'ands Ranch Road, a disfance of
4625. 91 Ieef,
THENCF S 00.12'!5' 4%, a disirrnte of 5899. �f7 feel,
iNE'NGk' N B9.lO'42' W, along !he ,�orlh Iine of o Texns Eleclric Serviee Compony Irocl,
o drslance of 4931.28 feetr
TH�NCE N 00.10 °44' E, deparling Ihe norlh �ine o/ said %xos Eleclric Service Compony
Iraci, o drsiante of 288.06 feel to fhe sou�heasl corner of said Texas Eleciric Service
Company Trocl No. 4r
TNENCE N 00.58 '00' E', along 1he eosf line af said Texas Eleclric Service Comp6ny Tracl
Na. 4, a dfslance of 50E7. b4 fee! fo Ihe POINT pF B�'GI�lNING oRd conlarning 608. 644
acres, more vf less. .
TRACT 2
8ElNG a�rocf af lond silualed !n ihe Alexander, Crai�, NQrris arzd 8rooks 5urvey, Abslracl
No. 55, Tarranl County, Texas and being a 1ha! some ca�led 47.242 acre Irac! oI land os
described in deed lo Nitks Road Inveslors, LId. , recorded !n Volume !3&87, �aqe 68 of
Ihe Deed Record of Tnrror�i Coun�y, Texos fORTCT 1 and berng more porliculorly
described os foliows r
COARMENClNG af !he inlerseclran ol lhe soulh llne of 8onds Ranch Road f120' R.O. W.
per Rrghl-Of-Wuy F'arce! A, Volume l3499, Page 39, DRTCT 1 wilh �he wesl line of a Iroc1
of land (TRACT 11 as described in desd !o Hrcks Rood lnveslors, Lfd. , recorded in
Volume !3@87, Page 68, DRTG7' and Ihe easl line of a frvci ol Iond (Tracl No. 4 1 as
descrrbed in dead !o Taxas Eleclric Service Gompany, recorded in Volume 2542, Paq�
!, DRTGT,
THENCE S 00.5&'00' W, deparling 1he saulh line of sard 8artds Ranch Road, olong Ihe
wesl line of said Hicks Raod lnveslors, tld. TRACi ! artd Ihe easl line o( said Texos
E7eclric Service Compony Traci No. 9, o disionce af 5067.08 feel !a fhe sovif�east rorner
of said Texos �Ieclric 5ervice Compony Trat! hla. A,
THENCE S 00.10'�g' W, along 1he wes� Irne of said Hrcks Road Invesfors, Lld. TRAC7 !,
a dislance of 288.06 feef io !he norfh lirte ol n Texas Eleclric Servrce Cnmpony Iracir
THENC� S 00.l0'44' IN, a disfonce oI287.99 feef 1v 1he POlNT OF8EGINIWNG of ffre
frerein described Iracl of landr •
7'N�'NG� S 99.I0'17' E, a drslor+ce of 2302.62 feet lo ihe norlhwesf corner of lhe J.A.
McNvl! 5vrvey, Abs�racl No, 1151,
TNENCF 5 OD.30'34' !N, o drsfance of 884.67 feel !a !he wesler�y soulhwesf corner af the
J.A. McNu11 Survey,
T,�IENCE N 89. 39 '!9' iN, a dislance of 2298, !9 fee17
7'HENCE N Q0.13'49" E, a dislance of 904.3! leel io fhe POINT OF BEGINN�NG and
conlaining 47.243 ocras, more af less. .
EXHIBIT "B—I"
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TEX�.S .k PA,C[FiC RAiLAOAD COMPANY No. 29
SURVSY.ABSTRACT Na. I568 AND AI.PJCANDER, �;
CRAIN,�iAX�RTS & BROOKS SIIRVEY, AS51IiAGT PIa 55 _
TARRAIV'f COi7N!'X, TSXAS • �
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'E �!� �1�'i �-1$$D'f 6����TT � '1 of �
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S�iVD� RA�I�I�
R E�O M�r1 � f� DA4TI �hl :
�f i� re��m�en�ed ti�at �h� Cit� �oun�r�:
�.�Ip��ove the atta�hed Dev�l�p��'� �4gt�em��t t���+,rar�et� the �kty of Fart W�rih and �cptl
�or�munit�e� �e�relap�rs Li�ni#�d Partner�hip fo� 8or��s Rar��h; and
�, ��#h�ri�e l#�e �ik� Nlar��g�� or t�i� des�gnee to ex��ut� the agre�m�nt.
DI��I.���1�fV:
�c�t�� �ornrnu��ties I��vel�p�r� L.�m�#�d Parkner�hip {�co#t� owns a�proxGmatel� 'I�� �cres an� has
opt9�r�s #o puf��ase approximake��+ �,9 48 ad�#itional acr�� n�ar ��gis N1o�ntair� L,a4�e in �n ar�a
g�r�er�ily bnr�i�red ��+ I����n F�oad �n the n�rth, B�at �l�b R��d on th� west, � T'XU e�serr��r�t ��� the
�out�r, ar�d iY�e proposed �h�p�l Hrll d�vel�prr��nt vn t�v ���t. Th� Pl�n �amrrxis�ion ha� appro�ed a
con��p# plar� far t�� er�tFr� �,��3 �cres, a pr�limina�ry pCa� fnr a�5�-��r� }��r�ivn of th� prop�rty, �nd a
#'rnal pl�l for 8� �c�es c�ver�d b� th� prslirr�inary pfal.
The attach��i agreemeni pravid�s ��rr��fr� ronc�itiar�s for �latting, annoxatian and d�v�l�prner�# �f th�
'��� ac��e� current��r own�d b�r ��at�, a�d �I��se par�ions of th� �,� 1� ac�es ro� w�Rcl� ��ot� ax����s�� �ts
opli�n to p�r�l��s�. TY�� �rlr��k{�a! lerr�s of th� a����in�ni a�e a� f�G�ows:
��att �gr��s l� �ubrr�il ���#lt�on t� ann��c th� 13� a��es �urrsr�fly c�wR�ed b�r ��;o#1 wi#h�r� ��
day� �fter the agreement E� execule�i. �col1 agr��s l� s�k�mk� �n ar����x�i�a� ��k�t�on bafore
submilt�r�g � f�naE plat far an�r r�rn��r�ing ���t of �h� 6�� acras for v�hi�� a preCirnir�a�ry pEat h��
beert ap�ro�red, a�d before �ubrr�il#ir�g a�rel�rr��r�ary �il�t for �ny rem�inirYg p�rli��r �f #he
pra�e��+. ��okt �nay r�ot con��ruc# �r�y eE��los�d. J�a�itaf�le camm�r�ial, Inclus�ri�l or r�sid�nlial
buil�ling or� proporl� th�t has n�t bee� annexed. �'h� �greefn�r�t {�er�i�s oii a�rd c�a� drill�ng �nd
produ�#i��7 or� the �ropert� priar to ar�r���cation.
•�o�curren� wi#h ���i#ioning �or a��e�ca�ion �f an�+ portior� �f ��h� �ropert�+ cov�red by� t��
agreerner�#, �cotk wi�l fil� ��or�ing ��pli�ati�� ���ki�c� mixec�-t�se �or��t�� consis#��g prr��arily af
low-�densil�, sf��g���fa�il�r r�sld�r�rial c�ev�fap��en� and Carr�i�ed neRgl�t��r��croci-�ervir�g commerc�al
us�s. ihe n�rr�t�er of r�sid�rriial ur�iis per acre wlCl npt exco�r# �n av�r��� af �hr�� r�sider��ial
units ��r acre �a�c�d on th� gros� acr�ago o� #h� pro��ct.
�c�#��'s vbli��tt�ns u�der #�� agre��r��nl w+l� b� b���din� on all s���s��uent pt�rchasers o� prop�rt� �t�at Is
subj�c# to ti�e agre�rr�c�n#.
�'i� o�'�'vr�t �a���, ��x�s
���a�� �n� �����i� �,o���������r�
L�A7E r�rFr•_����� ���r���r� I�o���v�i��s'E - ����
��J�filQ1 ��'! 8$01 l BQ��bTi � � �f �
s��.��cr APPRC71l,�L �� DE1��L�PER'� A�Ft�EMEiVT BETW�EEV T�IE �li1l O� ���T
WOR71i A�1D ���Tf' ��NiN1l.�N1Tl�� p�1f��.OP�R� ���1117Ep PA��I��f��HIP �UR
� B�hJ�� RAhi�H
Up�r� �pproval of khis cor�tra�l, th� �iiy agr��s t� b��i� constru��i�n of � 1�-in�h wak�r malr�
ap�ro�cima,tef� 7,�0� fee� ir� lengk� �long Bond� F�ancl� �aad ea�t from B�at �lu� Road, In a�d�ti�n,
the �ik� agre�� to conr�ect t�ris w�ter m�i� ta �n �xisting m�in #�ral t�rmir��t�� �p�t�xirr�rake!►� 'I il� rr�iCe�
eas# of IJ.�. Bus�n��s ���. TF�e �k#y wGll heg€� cor�struclian of khe Phase I! �nrater ma�n canrte�t€an u�or�
aoqu��it�on of at I�ast 10� wa��rr c�st�m�r� in tl�is d�velapmenl, and �fter �cott ��nskr�,cts requirad
sewer improvem�nts,
� �k����, I�1FC�F�h.+1►��`I�f�I�EF�TI�I�A�k��V:
The �inance Di���tor �e�tifes that tl�rs acti�r� w�ll �ave �o r�ax��ial effect �n �€ty �un�s.
M�;n
Sulrrnit#e� for �I�y M�nng¢r's
orr��� r�y;
h#ikr �[�onler
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n:�i� ��������
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