O-1385-11-95ORDINANCE NO. 1385-11-95
AN ORDINANCE OF THE CITY OF ALLEN, COLLIN COUNTY, TEXAS,
ADOPTING A PROJECT PLAN FOR A CERTAIN 9.94 ACRE TRACT LYING
VIMUN AN EXISTING ENTERPRISE ZONE.
WHEREAS, the City of Allen owns a certain 9.94 acre tract in the William Perrin Survey, Abstract No.
708, which has frontage on the east side of U.S. 75 ("the Property"), more particularly described in
Exhibit "A" attached hereto and made a part hereof for all purposes; and,
WHEREAS, the Property lies within an enterprise zone and is vacant; and,
WHEREAS, the City of Allen has no plans to develop the Property for public use; and,
WHEREAS, if the Property is not developed and is left vacant, it will substantially arrest the sound
growth of the within the area; and,
WHEREAS, the City of Allen has very few full service restaurants, no hotel facilities and no available
class "A" general office space to aid the economic growth of the city;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ALLEN,
TEXAS, THAT:
SECTION 1: PROJECT PLAN. The following project plan is adopted pursuant to the Texas Local
Government Code §272.001(b)(7) and §373.005:
A. The city shall contract with the Allen Economic Development Corporation to secure the
construction of a full service restaurant, a hotel facility and/or class "A" office building(s) on the
Property described in Exhibit "A" attached hereto and made a part hereof for all purposes.
B. The City of Allen shall grant the Allen Economic Development Corporation an option to
purchase the Property in phases for a fair market value ranging from $1.00 per square foot to
$2.84 per square foot in order that the average value received by the City of Allen is $2.00 per
square foot.
C. A hotel, restaurant or general office facilities shall be constructed on the site within thirty-six
36) months after the closing of the sale of the Property to the Allen Economic Development
Corporation.
SECTION 2: CONFLICTS. All ordinances of the City of Allen in conflict with the provisions of this
ordinance shall be, and the same are hereby repealed; provided, however, that all other provisions of
said ordinances not in conflict herewith shall remain in full force and effect.
SECTION 3: SEVERABILITY. It is hereby declared to be the intention of the City Council that
the sections, paragraphs, sentences, clauses, and phrases of this ordinance are severable; and if any
phrase, clause, sentence or section of this ordinance shall be declared unconstitutional or invalid by any
judgment or decree of a court of competent jurisdiction, such unconstitutionality or invalidity shall not
affect any other remaining phrase, clause, sentence, paragraph or section of this ordinance; and the City
Council hereby declares it would have passed the remaining portions even though it had known the
affected parts would be held unconstitutional.
SECTION 4: EFFECTIVE DATE. This ordinance shall take effect upon adoption by the Allen City
Council.
DULY PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF ALLEN, TEXAS,
ON THE 16TH DAY OF NOVEMBER, 1995.
APPROVED:
O�e7a,e,��
J& Farmer, MAYOR
APPROVED AS TO FORM: ATTEST:
I
J#dy Morihon, CMC, CITY SECRETARY
Ordinance No. 1385-11-95 Page 2
ORDINANCE NO. 1385-11-95
EXHIBIT "A"
A 9.94 acre tract of lane situated in Collin County, Texas, and being LOT 2A, of
CITY COMPLEX ADDITION REVISED, an Addition to the City of Allen, Texas,
according to the Revised Map thereof recorded in Volume I, Page 688, of the Map
Records of Collin County, Texas.
Exhibit "A" - Solo Page
ORDINANCE NO. 1385-11-95
OPTION AGREEMENT
That for and in consideration of Ten Dollars ($10.00), receipt of which is hereby
acknowledged, the City of Allen (the "City") hereby grants to the Allen Economic
Development Corporation (the "AEDC"), its successors and assigns, an exclusive right or
option to purchase a 9.94 acre tract in the William Perrin Survey, Abstract 708, City of
Allen, Collin County, Texas, more fully described in Exhibit "A" attached hereto ("the
property").
Option Period
This Option is irrevocable for a period of three (3) years from its effective date
unless extended by the written consent of the City and the AEDC.
Purchase Price
The purchase price for the first four and one-half (41/2) acres is One Dollar ($1.00)
per square foot. The purchase price for the remaining acreage will be Two and 84/100
Dollars ($2.84) per square foot.
Notice of Option's Exercise
AEDC's election to exercise this Option shall be by delivery of written notice to the
City Manager in form of a real estate purchase contract in substantially in the form as
Exhibit "B" attached hereto.
Partial Purchases
The City agrees that the AEDC may exercise the option granted herein in two (2)
or more purchases, it being understood, however, that if the AEDC purchases sixty percent
(60%) or more of the property, then the AEDC must purchase all remaining property
covered by this option before the expiration of this option.
Effective Date
The effective date of this Option Agreement is November 2, 1995.
Binding Effect
This Option shall be binding upon the City, its successors and assigns, and shall
inure to the benefit of the AEDC, its successors and assigns.
OPTION AGREEMENT - Page 1 aedc\11/2/95\optionlegr
ORDINANCE NO. 1385-11-95
EXECUTED this 1`5-� day of See e;0 /bf1- , 1995.
EXECUTED this day of
STATE OF TEXAS §
COUNTY OF COLLIN §
CITY OF ALLEN
ALLEN ECONOMIC
DEVELOPMENT CORPORATION
by: (�5Z�W�
E. T. Bo ice President
This instrument was acknowledged before me on the Ise day ofG- , 1995
by Jon McCarty, City Manager of the CITY OF ALLEN, a Texas municipal corporation, on
behalf of said City.
Cor Az I
Notary Pub c in and for U
The State of Texas
STATE OF TEXAS §
COUNTY OF COLLIN §
This instrument was acknowledged before me on the day of, 1995
by E. T. Boon, Vice President of ALLEN ECONOMIC DEVELOPMENT CORPORATION,
a Texas corporation, on behalf of said corporation.
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� , `111111
r�✓✓�.rfrrrrrrilr�r� l./I �1
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Notary Publ'g in and for
The State of Texas
OPTION AGREEMENT - Page 2 aedc111/2/9ftption3.agr
ORDINANCE NO. 1385-11-95
EXHIBIT "B"
ORDINANCE NO. 1385-11-95
EXHIBIT "B"
2209
02.08-85
UNIMPROVED PROPERTY EARNEST MONEY CONTRACT
This Contract is Limited To Transactions Where Intended Use Is For One To Four Family Residences
PROMULGATED BY TEXAS REAL ISI'ATE COMMISSION
I. PARTIES: CITY OF ALLEN
CORPORATION (Scher) agrees to
ALLEN ECONOMIC DEVELOPMENT
sell and convey toBuyer) and Buyet
agrees to buy from Seller the property described below.
2. PROPERTY: boM 2.228 acres Smelt out of Lot 2A of the City Complex Addition,
City of Allen Collin County, Texas,
y 4e u described on attached exhibit (the Property).
3. CONTRACT' SALES PRICE:
A. Cash payable at closing..............................................................................S 97,033.00
D. Sum of all financing described in Paragraph 4 below.......................................................5 —0—
C. Sales Price (Sum of and B).........................................................................5 97, 033.00
4. FINANCING: (Check applicable boxes below)
® A. ALL CASH: This is an all cash sale; no financing is involved.
❑ B. ASSUMPTION:
(1) Buyer's assumption of the unpaid principal balance of a first lien promissory note payable to
in present monthly installments of S , including principal, interest and any reserve deposits, with Buyer's first installment payment
being payable on the first installment payment date after closing, [lie assumed principal balance of which at closing will be S
(2) Buyer's assumption of the unpaid principal balance of a second lien promissory note payable to
in present monthly installments of S , including principal, interest and any reserve deposits, with Buyei s first installment payment
being payable on the first installment payment dale after closing, the assumed principal balance of which at closing will be S
Buyer's assumption of an existing note includes all obligations imposed by the deed of trust securing the note.
If :he total principal balance of all assumed loans varies in an amount greater than 5350.00 at closing either party may terminale this contract and the Earnest
Money shall be refunded to Buyer. If the noteholder on assumption (a) requires Buyer to pay an assumption fee in excess of S
in
B(I) above or S in B(2) above and Seller declines to pay such excess or (b) raises the existing interest rale above %
in 130) above or —% in B(2) above, Buyer may terminate this contract and the Eamcsl Money shall be refunded to Buyer. The cash payable at
closing shall be adjusted by the amount of any variance in the loan balance(s) shown above.
NOTICE TO BUYER: Monthly payments, interest rales or other terns of some loans may be adjusted after closing. Before signing the contract, examine the
notes and deeds of trust to determine the possibility of future adjuslnccnts.
❑ C. THIRD PARTY FINANCED:
❑ I. A third party first lien note of S_ , due in full in year(s), payable in initial monthly payments of principal
and interest not exceeding S for the first —ycar(s) of the loan.
❑ 2. A third party second lien note of S , due in full in year(s), payable in initial monthly payments of principal
. and interest not exceeding S for [lie first years) of the loan.
NOTICE TO PARTIES: Before signing this contract Buyer is advised to determine the financing options from lenders. Certain loans have variable rates of
interest, some have monthly payments which may not be sufficient to pay the accruing interest, and some have interest rate "buydowns" which reducethe
rate of interest for part or all of the loan term at the expense of one or more of the parties to the contract.
❑ D. SELLER FINANCED: A promissory note from Buyer to Seller in the amount of S
and payable: __ ,bearing —% interest per annum,
❑ I. In one payment due
iter the date of the note with interest payable
❑ 2. In installments of S [ ) including interest I ) plus interest beginning
after the dateof the note and continuing at
note shall be due and payable. 'nlervals thereafter for year(s) when the entire balance of the
❑ 3. Interest only in nstallmenls for the first —ycar(s) and thereafter in installments of $
[ I including interest I ) plus interest beginning +flet the date of the note and continuing at
intervals thereafter for years) when the entire balance of the note is due and payable.
❑ 4. This contract is subject to Buyer furnishing Seller evidence of good credit within days from the effective date of this contract. If notice
of disapproval of Buyer's credit is not given within five (5) days thereafter. Seller shall be deemed to have approved Buyer's credit. Buyer hereby
authorizes Buyer's credit report to be furnished to Seller.
Any Seller financed note may be prepaid in whole of in part at any time, without penally. The lien securing payment of such note will be inferior to any
lien securing any loan assumed or given in connection with third party financing. If an Owner's Policy of Title Insurance is furnished, Buyer shall furnish
Seller with a Mortgagee's Title Policy.
Buyer shall apply for all third party financing or noteholder's approval of Buyer for assumption and waiver of the right to accelerate the nae within
days from the effective date of this contract and shall make every reasonable effort to obtain the same. Such financing or assumption shall have been approved when
Buyer has satisfied all of lender's financial conditions, e.g., sale of other property, requirement of co-signer or financial verifications. If such financing
or noteholder's approval and waiver is not obtained within days from the effective dale hereof, this contract shall terminate and the Eamesl Money
shall be refunded to Buyer.
EARNEST MONEY: $ 1 • 0 0 0 • 0 0 is herewith tendered by Buyer and is to be deposited as Earesl Money with
Safeco Land Title of Plano 204-A W. McDermott, Allen, Texas
. at _ (Address).
as Escrow Agent, upon execution of the contract by both parties. ❑ Additional Earnest Money of S shall be deposited by Buyer with
the Escrow Agent on or before . 19_
TITLE: Seller shall furpish to Buyer at Seller's expense either.
❑ A. Owner's Policy of Title Insurance (the Title Policy) issued by
in the amount of the Sales Price and dated at or after closing: OR
❑ B. Abstracts of Title eertifred�by an abstract company (1) from the sovereignty to the effective date of this contract (Complete Abstract) and (2) supplemented _
to the Closing Date (Supp emcntal Abstract).
NOTICE -R) SELLER AND BUYER: AS REQUIRED BY LAW, Broker advises Buyer tlat lluycr should have an Abstract covering the Property examined by an
attorney of Buyer's selection, or Buyer should be furnished with or obtain a Tide Policy. If a Title policy is to he obtained. Buyer should obtain a Commitment for
Title Insurance (the Commitment) which should he examined by an attorney of Buyer's choice at or prior to closing. If the Nopersy is siluakd in a Utility District.
00 1 TRF(' hi 9-1
Unimproved property Lamest Money Contract — Page Two 02-08-85
Section 50.101 Texas Water Code requires the Buyer to sign and acknowledge the sumutory, notice from Seller relating in the :ax rate and handed indebtedne%%o,r
the Dntricl.
7. PROPERTY CONDITION: Buyer accepts the property in its present condition.Xq1iJlslW1KIXD(
R. BROKER'S FEE: NONE Listing Broker, and any Co -Broker represent
Seller unless otherwise specified herein. Seller agrees to pay Listing Brokerlhe fee specified by separate agreement between Listing Broker and Seller. If flare is
no separate agreement, Seller agrees to pay Listing Broker in Cnunty. Teas, on consummation
of this sale or on Seller's default a total cash fee of of the Total Sales price or upon Buyer's default, one half of the hares: Money
paid to Seller not to exceed the amount of cash fee. Escrow Agent is authorited and directed to pay Listing Broker said fee from the sale proceeds.
CLOSING: The closing of the sale shall be on or before January 30 , 19-2 6, or within seven (7)
days after objections to tide have been cured, whichever date is later (the Closing Date); however, if financing or assumption approval has been obtained pursuant
o lamgrnph 4, the Closing Date shall be extended daily up to fifteen (15) days if necessary to complete loan requirements. If either party fails to close this sale
by the Closing Date, the nondefaulting party shall be entitled to exercise the remedies contained in Paragraph IS immediately and without notice.
10. POSSFSSION: The possession of tie Property shall be delivered to Buyer at closing.
11. SPECIAL PROVISIONS: (Insert factual taternents and business details applicable to this sale.)
THIS CONTRACT IS CONTINGENT UPON THE CLOSING OF THE PROPOSED
SALE OF THE PROPERTY FROM THE ALLEN ECO140MIC DEVELOPMENT
CORPORATION TO AMERIHOST DEVELOPMENT, INC.
12. SALCS EXPENSES TO BE PAID IN CASH AT OR PRIOR TO CLOSING:
it. Loan appraisal fees shall be paid by N/A
B. The total of tie loan discount and buydown ices shall not exceed f or which Buyer shall pray the firsts and Seller shall
pay the remainder.
C. Seller's Expenses: Prepayment penalties on any existing loans paid at closing, plus cost of releasing such loans and recording releases; tax statements; Va of any
escrow fee; preparation of deed; preparation and recording of any deed of trust to secure assumption: other expenses stipulated to be pail by Seler under
other provisions of this contract.
D. Buyer's Expenses: Application, origination and commitment fees; private mortgage Insurance premiums and any loan assumption fee; expenses rraenlent to
new loan(s) (e.g., preparation of any note, deed of trust and other Iran documents, survey (unless stipulated to be paid by Seller in Paragraph 201, recording
fees, copies of restrictions and easements, Mortgagee's Title Policies, credit reports, photos); %r of any escrow fee; any required reserve deposits rot ad valorem
taxes and special governmental assessments; interest on all monthly installment payment notes from date of disbursements to one (1) month prior to dales of
first monthly payments; expenses stipulated to be paid by Buyer under other provisions of this contract.
E. If any sales expenses exceed the maximum amount herein stipulated to be paid by either party, either party may terminate this contract unless the other party
agrees to pay such excess.
11. PRORATIONS AND TAXES: Interest on any assumed loan, current taxes, any rents and maintenance fees shall be prorated through tie Closing Date. If ad valorem
tans for the year in which the sale is closed are not available on the Closing Date, proration of taxes shall be made on the basis of taxes assessed in the previous
year.
If this sale or Buyer's use or the Property after closing results in (he assessment of additional taxes for periods prior to closing, such additional taxes shall be the
obligation of the Buyer and such obligation shall survive closing. If Seller's change in use of the Property prior to closing or denial of a special use valuation
claimed by Seller results in the assessment of additional taxes for periods prior to closing, such additional taxes sial( Ix the Obligation Or Seller, and such obligation
shall survive closing.
TITLE APPROVAL:
A. If abstract is furnished, Seller shall deliver Complete Abstract to Buyer within twenty (20) days from the effective date hereof. Buyer shall have twenty (20)
days from date of receipt of Complete Abstract to deliver a copy of the examining attorney's title opinion to Seller, staling any objections to tide, and only
objections so stated shall be considered.
n. if •rille Policy is famished, dee Tide Policy shall guarantee Buyer's title to be good and inderea%ible subject only to (1) restrictive covenants affecting the
Property (2) any discrepancies, connicis or shortages in area or boundary lines, or any encroachnents, or any overlapping of improvements (J) taxes fix tie
current and subsequent years and subsequent assessments for prior years due to a change in land usage or ownership (4) existing building and zoning ordinances
(5) rights of parties in possession (6) liens created or assumed as security for the sale comideration (7) utility casements common no the platted subdivision
of which this Property is a pan and (R) reservation% or other exceptions pemniued by ole temis of this contract. Exceptions pemoiued in de Deed and zoning
ordinances shall not he valid objections to title. If the Title policy will toe subject to exceptions other than those recited above in sub -paragraphs (1) through
(7) inclusive, Seller shall deliver to Buyer the Commitment and legible copies orally documents creating such exceptions that are not recited in sub -paragraphs
(I ) through (7) above at least five (5) days prior to closing. If Buyer has objection to :my such prcviou%ly undisclosed exception%. Buyer dull hast five (5)
days after receipt of such Commitment and copies to make written objection+ to Seller. it, not Tide Commitment is provided tO Buyer at or prix in elrming, it
w311 be conclusively presumed that Seller represented at closing that the Title ivicy would not be %uhject its exceptions other than thus recited above is sub-
paragraphs (1) through (7).
C. In either instance if title objections are raised. Seller shall have fifteen (15) days from the date such objections arc disclosed to cure the same, and the ansing
Date shall be extended accordingly. If the objections are not satisfied by the extended closing date, this contract shall terminate and the Earnest Money shall
h refunded to Buyer, unless Buyer elects to waive the unsatisfied objections and complete ole purchase.
D. Seller shall furnish tax statements showing no delinquent taxes, a Supplemental Abstract when applicable, showing no a(Iditional title exceptions and a General
Warranty Deed conveying title subject only to liens securing payment of debt created or mounted as pan of tie consideration, taxes fix the ouram year,
restrictive covenants and utility easements common to the platted subdivision of which the Property is a pian and reservations and conditions permitted by this
contract or otherwise acceptable to Buyer. Each note shall be secured by vendor's and deed of trust liens. A vendor's lien and deed of trust to secure assumption
shall be required, which shall automatically be released on execution and delivery of a release by notcholder. If Sellcr is released front liability on arty rimmed
note, the vendor's lien and deed or trust to secure assumption shall not be required. In call of dispute a% to the fonn or file Deed. rote(s), deed of trust or
deed of trust to secure assumption, forms prepared by the State Bar of Texas shall be used.
15. DI:rAULT If Buyer fails to comply herewith. Seller may either (a) enforce specific performance and seek wch other relief is may be provided by Imo or (b)
terminate this contract and receive the Gamest Money as liquidated damages. If Seller is unable without Loth, within die time herein required, to (a) dk6ver the
Commitment or (b) deliver the Complete Abstract, Buyer may either temninate this contract and receive the lamest Morey a% file sole renedy rx'exiend the time
lift perfomtance up to fifteen (15) days and the Closing Date shall be extended pursuant in other provi%ion% of this contract. If Seller fails to comply hreviih fox
any other reason. Buyer may either (a) enforce specific perfomtance hereof and seek %tach other relict' a% nary Ix provided by law or (6) terminate this crausars and
receive the Earnest Money, thereby releasing Seller from this contract.
16. ATTORNEY'S FEES: Any signatory to this contract. Broker or Escrow Agent who i% file prevailing pany in any legal proceeding brought under or with relation to
this contract or transaction shall be additionally entitled to recover court eons and reasonable attorney fees front the non -prevailing piny
17 ESCROW. The Earnest Money is deposited with Escrow Agent with the understanding tlat Escrow Agent (a) is not a piny to this contract and dotes ram assume
or have any liability for performancem
or non-perforance of any signatory (b) has de right to require from all signatories a written release of liability of the Escrow
Agent which authorizes the disbursement of the Earnest Money (e) is not liable for interest or other charge on the funds held and (d) is not liable for any lases of
c%crow funds caused by the failure of any banking institution in which such funds have been deposited, unless such banking institution i% acting as Escrow Alen.
If any signatory unreasonably fails In deliver promptly the documents described in (b) above, then such signatory shall Ie liable to Ute other signatories as provikd
in Paragraph 16. At closing, the Earnest Money shall be applied first to any cash down payment required, then to Buyer's closing costs and any excess refunded to
Ihrycr. Any refund or payment of the Earnest Money under this contract shall be reduced by the amount of any actual expenses incurred on behalf of else party
receiving the Earnest Money, and Escrow Agent will pay the same to the creditors entitled thereon.
IR. REPRESENTATIONS: Seller represents that as of the Closing Date (a) there will Re no unrecorded lieu, assessnmenn or Uniform Commercial Code Security
Interests against any of the Propertywhich will not be satisfied out of the Sales Price, unless securing payment of any loans assumed by Buyer and (b) that auurped
loan(s) will be without default. If any representation above is untrue on the Closing Date this contract may be terminated by Buyer and the Earnest Money dull be
refunded to Buyer. All representations contained in this contract shall survive closing.
001
TREE Np. 94
ORDINANCE NO.
1385-11-95
EXHIBIT "B"
OEDINAINCE
NO. .
1385-11-95
_ -.-•v •- 1•1,..,q cl concerning --
(Addre++ of It)leny) "Tc lllhe 02 -OX -1
19. USE-ANy'"
I I nk,hilc hrnllc. Utilities rcqui.td at the Property rur such use are
I I I I ,vuerjr
I i +anicny ewer I e ne1tY I I Melillo,liml% prevent such intended u+c or (Int such required utilitie.uare rklt uyer nv*J, s ins that applieahlc r^ ce+, reurictior�s or guvemnental laws, rules or regul
,e 'rolerty i+ located within life IM year (loud plain as designated by d
appropriate gos�mnvental aulh,ttit lulnlles Seller within
and the a refuruied to Buyer: failure on file pan ar Buyer to give tale notiretwithin ile �duer quired liof lttle IuJi amtaibnc Buyer'sen the snjIV +hall
aete Dena
..,c-,�epenj 1 I Ihqu x iutcuded ux[.
20. SURVEY: I X I required I I not required. Ir required• then within 15
days from the rfkcti,r Jae of thi+ contract a current survey (If life 14upen
+hall be fumished by and at [lie expense or I I Seller I I Buyer by a mutually acceptable Regimered I4,blic Surveyor licenw•d by live State or Texa+. A plat i
file +urvey together with any appropriate field notes shall be rumi+hcd to Seller and Boyer. The survey shall lw•.uc all in,pruvcment+. nu•ruachnem+and overlappir
Ill' improvenknls un he I4opn
tey together with all caxcnlcnts and roadways adjoining or cn,++ing fife I'nq,cny.
21. AG E-EMENT 01' PARTIE: Thi+ contract contains live entire agreement of the P:mie% and c:uvlw he changed except by their written agreenent. li:xa+ heal I:+urs
Conunis+ion promulgated addenda which :,re a pan of Ili+ contr:,ct are (li+t)•
22. N(yl'ICL•'S: All notice+ shall be in writing ands cftirctivc when delivered w the addre.+u++huwn lelow
21. CONSULT YOUR A'I IDRNI:Y: 'l -he Broker cannot give you legal advicr. Thi+ is intended lu hen legally binding contract. READ fr CARL'FULLY. Niterd la,
May imp,l+e certain duties upon Ilmkcn or Signatories to this contract when any or (he +ignaiorics i+ a foreign party. or when ;Illy of the signatories rcccivcs ccnai
anulunfs or U.S. currency in connection with a real estate cloning. If ytla do not understand tie e0icl Ill' any pan of this eomrlr(. consul your ataxtley L31:1 -Olt
signing.
SELLER'S
ATTORNEY: BUYl:lt'S
Al'IDIMEY:
LXECUTL'D in multiple originals criectivc the
Jay of
, 19-- (IIItUKlslt:
I'il,I, IN THE. DA'I'r•, OF F'INA1. ACCLI'7ANCI:.)
ALLEN E NOM DEVELOPMENT
ORPORATION
Buyer
C Y
OF ALLEN
b
Sc ter
Buyer Ja Moneta, President
by.
Seller J n
cCarty, City Mana
er
�u7}f xs?4tVdf 2GX
One utle
Circle, Allen,
xas 75013
Phone No. Scllcr'+ Ar •sx
Phone No.
AGItl:I:Mr:N'I' IJLTWI:I:N BROKERS
Liming Broker agree+ m pay N/A
a fee of ur the final sides price when
Co -Broker rronl a ting Brokers !•e
the Brol,er's fee Je+criled in Paragraph 8 k received. lacrow Agent i+
x,111 r.
at cin+iug.
authnrircJ
and dircCo-
C^ -Broker License No. Listing Ilruker
Liccn+e No.
fly:
BY:
Co-llrokcr's Address Phone No. Lkling Bn,kr's Address
I'lunc No.
EARNI:.Sr MONEY RL'CI?1111'
Receipt of f- Earnest Morley is acknowledged in de (inn of
+crow Agent:
Ilya
)ave:
lle h,ml ur d,i+ contract ha+ leen :q,pm,ved by Ue 12xa+ Real I:+tale Conuni++ion. Such approval rcl.nc+ to thi% contract
luno only. No rcpm•senlation i+ mark :1+ w life legal validity ur aJeyu:e)' ml';my provi+iun in ;rev +leeifie tr:nl+:,itian+. it i+
Mil +uifahte fur complex fran+:,etion+, l:xren+ive riders or;ddition+:rce not w Ix used. 1Rev. 11?-KSI'I'It I:C No. 9-I. l'hi+
handl, replace,'rhtl:C No. 9-0. O O 1
OPDIFANCE 7-110. 1385-11-95
EXHIBIT "B"
SURVEY DESCRIPTION OF PROPOSED HOTEL TRACT
BEING 2.228 acres of land, more or less, situated in the William Perrin Survey, Abstract Number
708, Collin County, Texas, and being a part of Lot 2A, Allen City Complex Addition Revised, an
addition to the City of Allen as recorded in Cabinet I, Page 687 of the Map Records of Collin
County Texas (MRCCT) and being a part of Lot 1, Block 2, Millennium Business Park, an
addition to the City of Allen as recorded in Cabinet I, Page 494 (MRCCT), said 2.228 acres of
land being more particularly described by metes and bounds as follows:
COMMENCING for reference at a 3/4 inch iron rod found marking the southwesterly corner of
said Lot 2A, the same being the northwesterly corner of said Lot 1, Block 2 and being in the
easterly right-of-way line of U.S. Highway Number 75, a variable width right-of-way;
THENCE easterly, departing said right-of-way line and crossing said Lot 1, Block 2 as follows:
S 75°54'32" E a distance of 170.58 feet to a 1/2 inch iron rod with plastic cap marked
"EHA" set;
N 89009'48" E a distance of 152.03 feet to a 1/2 inch iron rod with plastic cap marked
"EHA" set for the POINT OF BEGINNING;
THENCE N 14003'34" E, crossing said Lot 1, Block 2 and said Lot 2A, distance of 318.94 feet
to a 1/2 inch iron rod with plastic cap marked "EHA" set;
THENCE crossing said Lot 2A the following five (5) courses;
(1) N 46°25'27" W, a distance of 10.89 feet to a 1/2 inch iron rod with plastic cap marked
"EHA" set;
(2) Along a curve to the left having a radius of 105.00 feet, a delta angle of 29029'05", a long
chord that bears N 61 °09'59" W a distance of 53.44 feet and an arc distance of 54.03 feet
to a 1/2 inch iron rod with plastic cap marked "EHA" set;
(3) N 75054'32" W, a distance of 236.35 feet to a 1/2 inch iron rod with plastic cap marked
"EHA" set;
(4) S 14003'34" W, a distance of 15.00 feet to a 1/2 inch iron rod with plastic cap marked
"EHA" set;
(5) N 75°54'32" W, a distance of 20.01 feet to a 1/2 inch iron rod with plastic cap marked
"EHA" set in the westerly line of said Lot 2A, the same being the easterly right-of-way line
of said U.S. Highway Number 75;
THENCE N 14003'34" E, along said easterly right-of-way line and the westerly line of said Lot 2A,
a distance of 35.00 feet to a1 /2 inch iron rod with plastic cap marked "EHA" set;
ORDINANCE NO. 1385-11-95
EXHIBIT "B"
THENCE crossing said Lot 2A the following six (6) courses;
(1) S 75°54'32" E, a distance of 256.36 feet to a 1/2 inch iron rod with plastic cap marked
"EHA" set;
(2) Along a curve to the right having a radius of 125.00 feet, a delta angle of 29029'05", a
long chord that bears S 61009'59" E a distance of 63.62 feet and an arc distance of 64.33
feet to a 1/2 inch iron rod with plastic cap marked "EHA" set;
(3) S 46°25'27" E, a distance of 112.05 feet to a 1/2 inch iron rod with plastic cap marked
"EHA" set;
(4) Along a curve to the left having a radius of 125.00 feet, a delta angle of 44°24'45", a long
chord that bears S 68037'49" E a distance of 94.49 feet and with an arc distance of 96.89
feet to a 1/2 inch iron rod with plastic cap marked "EHA" set;
(5) N 89°09'48" E, a distance of 150.64 feet to a 1/2 inch iron rod with plastic cap marked
"EHA" set;
(6) S 00°50'12" E, at 172.00 feet pass the common line between said Lot 2A and said Lot
1, Block 2 and continuing along said course for a total distance of 216.00 feet to a 1/2
inch iron rod with plastic cap marked "EHA" set;
THENCE S 89009'48" W, crossing said Lot 1, Block 2, a distance of 406.37 feet to the POINT OF
BEGINNING, and containing 2.228 acres of land.
Surveyed December 04, 1995
Espey, Huston & Associates, Inc.
Jo . Wilder R.P.L.S. #4285
4F
•e•!.e00•a C•6n•COl•9•Y�'
JOHN F. WILDER
ea•� eNu••••••••eaNl�
A
AFFIDAVIT AND PROOF OF PUBLICATION
THE STATE OF TEXAS
COUNTY OF COLLIN
BEFORE ME, the undersigned authority, on this day personally
appeared DEBBIE TACKETT, who having been by me duly sworn,
on oath deposes and says:
That she is the General Manager of THE ALLEN AMERICAN, a
newspaper published in COLLIN COUNTY, TEXAS, not less frequently than
once a week, having a general circulation in said county, and having been
published regularly and continously for more than twelve (12) months
prior to publishing
Ordinance #1385-11-95
of which the attached is a true and written copy, and which was published
in THE ALLEN AMERICAN on
November 22 & November 25, 1995
and which was issued on
November 22,1995
by City of Allen of COLLIN COUNTY, TEXAS
A printed copy of said publiattached hereto.
SUBSCRIBED AN#__1A
RN to before me this
day 19_�
(/. e.
NOTARY PUBLIC in and for COLLIN COUNTY, TEXAS
Publisher's fee 3 2 4. 7 6
V. A. TODD
MY COMMISSION EXPIRES
F oF?' December 5, 1998
CITY OF ALLEN
PUBLIC NOTICE
Notice is hereby given that the Allen
City Council adopted the following
ordinance at their regular meeting held on
Thursday, November 16, 1995 (Title
only):
Ordinance No. 1385-11-95: An Ordi-
nance ftFe__CTiy_6` Ale�olin County,
Texas, Adopting a Project Plan for a Cer-
tain 9.94 Acre Tract Lying Within an Exist-,
ing Enterprise Zone.
A copy of this ordinance may be read
or purchased in the office of the City Sec-
retary, City of Allen, One Butler Circle,
Allen, Texas 75013.
/s/Judy Morrison
City Secretary
CITY OF ALLEN
PUBLIC NOTICE
Notice is hereby given that the Allen
City Council adopted the following
ordinance at their regular meeting held on
Thursday, November 16, 1995 (Title
only).
Ordinance No. 1385-11-95: An Ordi-
nance�e ity o en, o in County,
Texas, Adopting a Project Plan for a Cer-
tain 9.94 Acre Tract Lying Within an Exist-
ing Enterprise Zone.
A copy of this ordinance may be read
or purchased in the office of the City Sec-
retary, City of Allen, One Butler Circle,
Allen, Texas 75013.
/s/Judy Morrison
City Secretary