R-1343-7-95RESOLUTION NO. 1343-7-95 (R)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ALLEN,
TEXAS, APPROVING A MEDIATION SETTLEMENT AGREEMENT
RELATED TO CONDEMNATION PROCEEDINGS FOR THE PURCHASE OF
APPROXIMATELY 95.20 ACRES (MORE OR LESS) OF LAND OWNED BY
LLG LANDS, INC.
WHEREAS, the City Council of the City of Allen, Texas, has heretofore adopted a Resolution
authorizing the acquisition of private real property for public purposes for use by the City of Allen,
Texas, which Resolution also declared that the acquisition of fee simple title to said property is a
public necessity and, also, authorized the institution of proceedings in eminent domain to acquire fee
simple title to said property; and,
WHEREAS, said property which is the subject of this Resolution is that certain real property situated
within the City of Allen, Collin County, Texas, and being generally described as 95.20 gross acres
of land (more or less) located between the Southern Pacific Railroad on the west and the easternmost
tributary of Cottonwood Creek on the east, as well as the proposed extension of Exchange Parkway
on the North and the property's actual southern boundary on the south, said property being owned
by LLG Lands, Inc., a corporation; and,
WHEREAS, as authorized by the aforementioned Resolution, a petition in condemnation was filed
on June 9, 1995, in the County Court at Law Number One, Collin County, Texas, to acquire title to
said property as more fully described in said petition; and,
WHEREAS, on June 23, 1995, a mediation proceeding was conducted with regard to condemnation
proceeding and, as a result of said mediation, a Settlement Agreement and Agreement to Convey
Property were reached whereby Jon McCarty, City Manager, acting on behalf of the City of Allen,
Texas, agreed to pay to LLG Lands, Inc., as full compensation and damages in settlement of said
petition on condemnation the sum of $1,332,500.00 as payment -in -full for the acquisition of said
property and payment of damages and costs related thereto; and,
WHEREAS, said Agreement needs to be approved by the City Council of the City of Allen, Texas,
and the City Manager authorized to take such steps as may be necessary to pay for said property;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ALLEN, COLLIN COUNTY, TEXAS THAT:
1. The Settlement Agreement and Agreement to Convey Property entered into by Jon McCarty,
City Manager of the City of Allen, Texas, for the purchase of approximately 95.20 acres of land
(more or less) located within the city limits of Allen, Collin County, Texas, as aforementioned, is
hereby approved, and the City of Allen, Texas, agrees to pay $1,332,500.00 for 69.6 non -floodplain
acres of land owned by LLG Lands, Inc., with the remaining portions of the tracts being the subject
of the condemnation petition being donated by LLG Lands, Inc., to the City of Allen, Texas.
2. Authorization is hereby given to Jon McCarty, City Manager of the City of Allen, Texas, to
perform any and all acts necessary to consummate the purchase of the property aforementioned in
accordance with the terms of the Settlement Agreement and Agreement to Convey Property.
DULY PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF ALLEN,
COLLIN COUNTY, TEXAS, ON THIS THE 20TH DAY OF JULY, 1995.
APPROVED:
'4� x9a�-e-s�i�
toe Farmer, MAYOR
ATTEST:
'z'
Jtay-MorrAon, CMC, CITY SECRETARY
Resolution No. 1343-7-95(R) Page 2
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SWLT D-373944C/MR
FPS: $29.00
WHEN RECORDED, RETURN TO:
AFTER RECORDING RETURN TO:
SOUTHWEST LAND TITLE CO.
500 N. AKARD
2900 LINCOLN PLAZA
DALLAS, TEXAS 75201
ATTN: MARSHA REYNOLDS
SPECIAL WARRANTY DEED
STATE OF TEXAS
KNOW ALL MEN BY THESE PRESENTS
COUNTY OF COLLIN
LLG LANDS, INC., an Arkansas corporation ("Grantor"), whose
mailing address is 1600 Viceroy Drive, P.O. Box 650096, Dallas,
Texas 75265, for and in consideration of the sum of Ten Dollars
($10.00) and other good and valuable consideration paid by the CITY
OF ALLEN, TEXAS ("Grantee"), whose mailing address is c/o Lewis
Isaacks, Esq., Gay & McCall, Inc., 777 E. 15th Street, Plano, Texas
75074, the receipt and sufficiency of which consideration are
hereby acknowledged, has GRANTED, BARGAINED, SOLD, and CONVEYED and
by these presents does hereby GRANT, BARGAIN, SELL and CONVEY unto
Grantee all of that certain real property located in Collin County,
Texas, and being more particularly described in Exhibit A attached
hereto and made a part hereof for all purposes, together with all
improvements thereon and all and singular the rights, benefits,
privileges, easements, tenements, hereditaments, and appurtenances
thereon or in anywise appertaining thereto (said real property,
together with such improvements and such rights, benefits,
privileges, easements, tenements, hereditaments and appurtenances
are hereinafter collectively referred to as the "Property").
This Special Warranty Deed is made and accepted expressly
subject to those exceptions (the "Permitted Exceptions") set forth
in Exhibit B attached hereto and made a part hereof for all
purposes, and to the special condition set forth in Exhibit C
attached hereto and made a part hereof for all purposes.
TO HAVE AND TO HOLD the Property, subject to the Permitted
Exceptions as aforesaid, unto Grantee, his successors and assigns,
forever, and Grantor does hereby bind itself, its successors and
assigns, to WARRANT AND FOREVER DEFEND all and singular the
Property, unto Grantee, its successors and assigns, against every
person whomsoever lawfully claiming or to claim the same, or any
part thereof by, through, or under Grantor, but not otherwise.
53019_2
Grantee, by its acceptance hereof, does hereby assume
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08/03/95
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responsibility for any and all ad valorem taxes and special
assessments pertaining to the Property for calendar year 1995 and
subsequent years, there having been a proper proration of ad
valorem taxes for the current calendar year between Grantor and
Grantee. Grantee, by its acceptance hereof, does further assume
responsibility for any and all ad valorem taxes relating to a
subsequent change in the usage or ownership of the Property,
whether by reason of this conveyance or hereafter.
IN WITNESS WHEREOF,
executed and delivered to
day of August, 1995.
v
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THE STATE OF TEXAS
b A'L'L4s
COUNTY OF GG�6�
this Special Warranty Deed has been
be effective for all purposes as of the
GRANTOR:
LLG LANDS, INC.,
an Arkan corporatio j
By:
Name: -
Title. i
/This instrument was acknowledged befoz
by )--- %y��, ��NID� 2!�ac Z
LANDS, INC., an Arkansas corporation,
corporation.
PATSY PETTIT
i, Notary Public
!� State of Texas
!+1y Com Exp 10-07-98,
me on August
on behalf
1995,
_ of LLG
of said
4, /��
NotarJP1�i�c—,Sate of Texas
Printe:
My Commission Expires:
53019_2 -2- 08/03/95
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EXHIBIT A
Field Note Description
Tract 1
Proposed Exchange Parkway
State of Texas
County of Collin
Being a tract of land situated in the L.V. Pegues Survey, Abstract No. 702, Henry Wetsel
Survey, Abstract No. 1026, Lewis Wetsel Survey, Abstract No. 978, and the James Reed
Survey, Abstract No. 738, Collin County Texas and being a portion of a 442.175 Acre tract
of land conveyed to TY Cher Investments recorded in Volume 2478, Page 56, Deed Record
of Collin County, Texas (DRCCT) and being more particular described as follows:
Commencing at the intersection of the northerly right-of-way of EXCHANGE PARKWAY and
the easterly right-of-way of CENTRAL EXPRESSWAY (U.S. Highway No. 75) 1300' right-of-
way)
Thence departing the northerly right-of-way of EXCHANGE PARKWAY and along the easterly
right-of-wey of said CENTRAL EXPRESSWAY North 26035'00" East a distance of 242.92
feet to the Point of Beginning
Thence containing along the easterly right-of-way of said CENTRAL EXPRESSWAY North
26035100" East a distance 773.84 feet to point being the beginning of a non -tangent curve
to left having a radius of 229.50 feet and having a chord bearing of South 141100'07" West
and a chord length of 53.34 feet said point being in the northerly right-of-way PROPOSED
EXCHANGE PARKWAY (variable width right-of-way)
Thence departing the easterly right-of-way of said CENTRAL EXPRESSWAY and along the
northerly right-of-way of said PROPOSED EXCHANGE PARKWAY as follows:
Continuing along said non -tangent curve to the left through a central angle of
13020144" and a arc length of 53.46 feet to the beginning of a non -tangent
curve to the left having a radius of 34.50 feet and having a chord bearing of
South 281104'06" East and a chord length of 39.97 feet
Continuing along said non -tangent curve to the left through a central angle of
70047142" and a arc length of 42.63 feet to the point of tangency
South 63027'57" East a distance of 146.65 feet to the beginning of a curve
to the right having a radius of 198.50 feet and having a chord bearing of South
24017'11" East and a chord length of 248.28 feet
Continuing along said curve to the right through a central angle of 78021'32"
and a arc length of 268.74 feet to the point of tangency
South 14053'37" West a distance of 97.89 feet to the beginning of a curve to
the left having a radius of 34.60 feet and having a chord bearing of South
24017'10" East and a chord length of 47.18 feet
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Continuing along said curve to the left through a central angle of 78021'35"
and a arc length of 47.18 feet to the point of tangency South 63°27'59" East
a distance of 43.62 feet to the beginning of a curve to the left having a radius
of 2083.48 feet and having a chord bearing of South 70052'33" East and a
chord length of 537.41 feet
Continuing along said curve to the left through a central angle of 1404912"
and a arc length of 538.91 feet to a point set in the westerly right-of-way of
the SOUTHERN PACIFIC RAILROAD (1001 right-of-way)
Thence departing the northerly right-of-way at said PROPOSED EXCHANGE PARKWAY and
along the westerly right-of-way of said RAILROAD South 11020'00" West a distance of
148.40 feet to a point in the Southerly right-of-way of said PROPOSED EXCHANGE
PARKWAY said point being the beginning of a non -tangent curve to the right having a radius
of 1762.95 feet and having a chord bearing of North 69021'10" West and a chord length of
361.65 feet
Thence departing the westerly right-of-way of said RAILROAD and along the southerly right-
of-way of said PROPOSED EXCHANGE PARKWAY as follows:
Continuing along said non -tangent curve to the right through a central angle of 11 °46'27"
and a arc length of 362.28 feet to the point of tangency
North 631327'57" West a distance of 195.71 feet to the beginning of a curve to the left
having a radius of 229.50 feet and having a chord bearing of North 74046'33" West and a
Chord length of 90.02 feet
Continuing along said curve to the left through a central angle of 22°37'12" and a arc length
90.61 feet to the beginning of a curve of the left having a radius of 34.50 and having a chord
bearing of South 601013'26" West and a chord length of 38.27 feet
Continuing along said curve to the left through a central angle of 671022'46" and a arc length
of 40.57 feet to the point of tangency
South 26031'57" West a distance of 19.74 feet to the beginning of a curve to the right
having a radius of 196.50 feet and having a chord bearing of South 71032'03" West and a
chord length of 277.89 feet
Continuing along said curve to the right through a central angle of 90 °00'00" and a arc length
of 308.66 feet to the point of tangency
North 63027'57" West and a distance of 87.00 feet to the beginning of a curve to the left
having a radius of 229.50 feet and having a chord bearing of North 74903'48" West and a
chord length of 84.41 feet
Continuing along said curve to the left through a central angle of 21 °11'41" and a arc length
of 84.90 feet to the beginning of a curve to the left having a radius of 34.50 feet and having
a chord bearing of South 65059'44" West and a chord length of 33.81 feet
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Continuing along said curve to the left through a central angle at 58 °41' 16" and a arc length
of 35.34 feet to the POINT OF BEGINNING
Containing within these metes and bounds 7.430 acres or 323,636 square feet of land more
or less.
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Feld Note Description
Tract II
Proposed Exchange Parkway
State of Texas
County of Collin
Being a tract of land situated in the L.Y. Pegues Survey, Abstract No. 702, Henry Wetselk
Survey, Abstract No. 1026, Lewis Wetsel Survey, Abstract No. 978, and the Jahtes Reed
Survey, Abstract No. 978, Collin County, Texas and being a portion of a 442.175 acre tract
of land conveyed to TY Cher Investments recorded in volume 2478, page 56. deed records
of Collin County. Texas (DRCCT) and being more particular described as follows:
Beginning at a 1/2 iron rod found at the intersection of the westerly right-of-way of STATE
HIGHWAY NO. 5 (100' right-of-way) and the southerly right-of-way of PROPOSED
EXCHANGE PARKWAY (variable width right-of-way) said point being the most northeasterly
corner of a tract of land conveyed to T.G. George and wife Shelba Jean George recorded in
Volume 648, Page 72 (DRCCT)
Thence departing the westerly right-of-way of said STATE HIGHWAY NO.5 and along the
southerly right-of-way of said PROPOSED EXCHANGE PARKWAY as follow;
North 23°55'15" West a distance of 47.63 feet to a point
North 71032'37" West a distance of 1199.57 feet to the beginning of a curve to the
left having a radius of 1847.36 feet and having a chord bearing of North 79053"13"
West and a chord length of 536.12 feet
Continuing along said curve to the left though a central angle of 16041' 12" and a arc
length of 538.02 feet to the point of tangency
South 79039'47" West a distance of 146.07 feet to a point
South 84045'111" West a distance of 160.37 feet to a point
South 89 ° 50'31 " West a distance of 146.10 feet to the beginning of a non -tangent
curve to the left having a radius of 1847.36 feet and having a chord bearing of South
73000'09" West and a chord length of 304.83 feet
Continuing along said non -tangent curve to the left through a central angle of
09027166" and a arc length of 305.18 feet to the point of tangency
South 68 016111 " West a distance of 747.55 feet to the beginning of a curve to the
right having a radius of 1762.95 feet and having a chord bearing of South 72°35140"
West and a chord length of 266.14 feet
Continuing along said curve to the right through a central angle of 0838'58" and a
arc length of 266.14 feet to the point of tangency
South 65059'04" West a distance of 218.19 feet to a point
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South 88058'49" West a distance of 335.65 feet to a point
North 75005'23" West a distance of 163.48 feet to a point
North 82023'55" West a distance of 65.17 feet to a point in the easterly right-of-way
of the SOUTHERN PACIFIC RAILROAD (100' right-of-way)
Thencedeparting thesoutherly right-of-way of said PROPOSED EXCHANGE PARKWAY
and along the easterly right-of-way of said RAILROAD North 11020'00" East a
distance of 222.80 feet to a point in the northerly right-of-way of said PROPOSED
EXCHANGE PARKWAY said point being the beginning of a non -tangent curve to the
left having a radius of 2048.48 feet and having a chord bearing of South 88 ° 17118"
East and having a chord length of 514.26 feet
Thence departing the easterly right-of-way of said RAILROAD and along the northerly
right-of-way of said PROPOSED EXCHANGE PARKWAY as follows;
Continuing along said non -tangent curve to the left through a central angle of
14025'19" and a arc length of 615.62 feet to the point of tangency
South 79°47'39" East a distance of 117.97 feet to the beginning of a non-
tanget curve to the left having a radius of 2083.48 feet and having a chord
bearing of North 74049'23' East and a chord length of 475.56 feet
Continuing along said non -tangent curve to the left through a central angle of
13006123" and a are length of 476.60 feet to the point of tangency
North 68016"11" East a distance of 566.71 feet to the beginning of a non -
tangent curve to the right having a radius of 1972.36 feet and having a chord
bearing of North 75056134' East and a chord length of 526.69 feet
Continuing along said curve to the right through as central angle of 15020'45"
and a arc length of 528.27 feet to the point of tangency
North 66031'46" East a distance of 80.09 feet to the beginning of a non -
tangent curve to the right having a radius of 1997.36 feet and having a chord
bearing of North 87917'06" East and a chord length of 102.68 feet
Continuing along said non -tangent curve to the right through a central angle of
02°56'45" and a arc length of 102.69 feet to the point tangency
South 711158"18" East a distance of 80.14 feet to a point for the beginning of
a non -tangent curve to the right having a radius of 1972.36 feet and having a
chord bearing of South 80°17'37" East and a chord length of 600.09 feet
Continuing along said non -tangent curve to the right through a central angle of
17°30'01" and a arc length of 602.43 feet to the point of tangency
South 71032'37" East a distance of 1219.33 feet to a point
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North 66°05'03" East a distance of 39.43 feet to a point in the westerly right-
of-way of said STATE HIGHWAY NO.5
Thence departing the northerly right-of-way of said PROPOSED EXCHANGE PARKWAY and
along the westerly right-of-way of said STATE HIGHWAY NO. 5 South 23035'29" West a
distance of 187.52 feet to the POINT OF BEGINNING
Containing within these metes and bounds 14.473 acres or 630,429 square feet of land more
or fess.
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EXHIBIT B
Permitted Encumbrances
1. Standby fees, taxes and assessments by any taxing
authority for the year 1995 and subsequent years, and
subsequent taxes and assessments by any taxing authority
for prior years due to change in land usage or ownership.
2. Easement and Right of Way from LLG Lands, Inc. to North
Texas Municipal Water District, dated July 29, 1994, filed
August 10, 1994, recorded under County Clerk's File
No. 94-0074945, of the Land Records of Collin County,
Texas.
3. Easement for Right -of -Way, Plano -McKinney Pipeline from
LLG Lands, to North Texas Municipal Water District, dated
July 18, 1995, filed July 27, 1995, recorded under County
Clerk's File No. 95-0052435, of the Land Records of Collin
County, Texas.
53019_2
7 08/03/95
EXHIBIT C
SPECIAL CONDITION
This conveyance is being made by the Grantor at the request of
the Grantee specifically for the purpose of providing the right-of-
way necessary for the construction of the "Proposed Exchange
Parkway" (so called) on the Property as shown on the survey
prepared by Winklemann & Associates, Inc. dated 7/95. It is
understood that a final alignment for the Proposed Exchange Parkway
for which the Property may be needed has not been approved at the
time of this conveyance and that:
1. All alternatives to a proposed alignment will be studied
and considered pursuant to the National Environmental
Policy Act of 1969 as amended;
2. Conveyance of the Property will not influence the
environmental assessment of the Exchange Parkway project
including the decision relative to the need to construct
the Proposed Exchange Parkway or the selection of a
specific location; and
3. In the event that the Property is not required for the
alignment chosen after public hearings, if required, and
completion of an environmental document, and in the event
that construction of the Proposed Exchange Parkway is not
begun on or before January 1, 2003 and subsequently
substantially completed no later than June 30, 2004, title
to"'the -Property shall be revested in the Grantor or its
successors.in,interest. Grantee hereby agrees to deliver
_r .ori cause to -Be delivered a deed of reconveyance and any
'Y ""•`other"'documentation reasonably required to accomplish the
intent of this paragraph upon request and at no cost to
Grantee.
53019_2
08/03/95
DR�ERCECLRENTAL, SIV�oD
OESCRI,EO REAL BECAUSE OF OR On RACE INwA
UiNNEENFORCEABLE UNDER FEDERAL LAW
aIM(COUNTYI�
I hereby , Bfy that b
Instrunwm wM FILED In the FIN Numb,r Nuarcs
on the date and the tlrM anwd h,r,dn by RN; and was duty RECORDED,
on IN Oft w Pubm R„or" of M,Y hgsrffr 01 COM Courcy, iau, on
AUG 0 7 1995
-7
ao�tr p I , ta�ri
Filed for Record in:
COLLIN COUNTY TX
HONORABLE HELkN STARNES
On 1995/08/07
At 4e01R
Number: DI 0059300
r
• RESOLUTION NO. 1343-7-95(R)
SE AGREIIVIIIV'T AND AGREFIVIII�IT TO CONVEY PROPERTY
1. This Settlement Agreement and Agreement to Convey Property is entered into on
the date written below for the purpose of conveying title to certain property owed by LLG
Land Inc., located in the City of Allen, Collin County Texas, and otherwise resolving all
matters in controversy existing between the CITY OF ALLEN, TEXAS ("ALLEN") and
LLG LANDS, INC.("LLG") arising out of the issue of the amount of just compensation to
be paid by the City of Allen for the acquisition of the subject property. Allen has
determined that it is necessary to acquire the subject property for the development and
operation of its parks and recreational system. The subject property is reflected on Exhibit
"A",which is incorporated by reference as if set forth at length herein and consists generally
of tracts 3B, 10B, 12, 13A, 13B, 14A, and 14B depicted on the LLG master plan map ( the
map). With the exception of tract 3B, the subject property is generally described as being
located between the southernmost boundary of the proposed Exchange Parkway extension,
on the north then south along the Southern Pacific Railroad on the west,then east along the
southernmost side of said tract, and the north along the centerline of the east branch of
Cottonwood Creek. The tract of land made the basis of this action shall be further
described by a metes and bounds survey as set forth below, which description shall be
attached hereto as Exhibit "B" upon completion, which exhibit shall likewise be
incorporated by reference herein as if set forth at length.
2. LLG hereby agrees to sell and convey to Allen, and Allen hereby agrees to buy and
pay for the subject property, which shall include all of LLG's right, title, and interest in and
to said property of any nature, including the right to any improvements located thereon.
sErmEmExr AGREEM T Page 1
m:&t41g.W
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The total consideration to be paid by Allen shall be One million three hundred thirty two
thousand five hundred and no/100 ($1,332,500.00),which shall be payable in cash at closing
provided that each of the conditions set forth below has been fulfilled.
3. Closing shall take place in the Law Offices of Gay & McCall on July 31, 1995. In
the event that LLG has not met each of the conditions contained herein, Allen shall give
written notice of the provisions which have not been complied with to LLG. Thereafter
LLG shall have fourteen (14) days to satisfy said conditions, and the closing date shall be
extended fourteen (14) days from the date for compliance with said conditions.
4. For the consideration contained herein, the parties further agree to dismiss, without
prejudice, that certain cause of action pending in the County Court at Law No. 1-303-95,
Collin County, Texas, styled the "City of Allen, Texas v. LLG Lands, Inc." in which the City
of Allen, Texas seeks to acquire the subject property herein through eminent domain. In
order to avoid the uncertainties associated with litigation of the issue of the amount of
just compensation due to LLG for the taking of the subject property, the parties hereby
enter into this Agreement to Convey the subject property. The purchase price being paid
to LLG represents the total compensation which LLG might be entitled to receive as a
result of the taking of the subject property and for any damages due LLG as a result of the
property being acquired, including claims for alleged damages to the remainder which LLG
may now, or in the future, claim as a result of the acquisition of the subject property by
Allen. The agreements and obligations undertaken herein shall survive the closing of the
real estate transaction and the dismissal of the above referenced cause of action.
sErri.EmEwr AGREEMENT Pap 2
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5. On or before July 20, 1995 LLG at its sole cost and expense, shall provide Allen with
a survey acceptable to Allen and acceptable to Southwest Land Title Company for the
purposes of issuance of a title policy on the subject property. In the event that the survey
is deemed unacceptable by Allen, the City shall have the right to obtain, at its cost, a metes
and bounds survey acceptable to it. In the event that the City is required to obtain such
a survey, closing shall occur within fourteen (14) days of completion of the survey by Allen.
LLG further agrees to provide, an Owners Title Policy from Southwest Land Title Co. at
its sole cost and expenses. On or before July 24, 1995 LLG shall provide a Title
Commitment to Allen. Should Allen have objections to any exceptions contained in the
Title Commitment, it shall give notice of said objections to LLg within 5 days of receipt
of the Title Commitment. LLG shall then have 14 days to cure same, and the closing date
shall be extended until 10 days after objection has been cured. If the objections are not
satisfied by the extended closing date, this Agreement to Convey shall terminate unless
Allen agrees to wave the unsatisfied objections and complete the purchase.
6. The parties acknowledge that as of the date of execution of this Agreement, that the
exact amount of gross acreage being transferred, as well as the exact amount of net, non
flood plain acres, is uncertain but that it is the intent of the parties that LLG transfer all
of the subject property described in paragraph one above to Allen. The parties further
agree that the purchase price of $1,332,500.00 is based upon the sale by LLG of 69.6 non
flood plain acres of the subject property. LLG does hereby agree to donate all flood plain
acreage and any acreage outside the flood plain in excess of the 69.6 acres located within
the subject property to Allen by special warranty deed described below.
surmEmMr AGREEME1T Page 3
mal-llg.agt
7. In addition to the subject property being acquired for park and recreational purposes,
LLG does hereby agree to donate to the City of Allen the entire right-of-way needed for
the proposed extension of Exchange Parkway, which right-of-way is located between U. S.
Highway 75 on the west and State Highway 5 on the east as shown on the LLG master plan
map. No portion of the property being donated by LLG for the extension of Exchange
Parkway is comprised of any land being acquired by Allen for park or recreational purposes.
The transfer of the title to the Exchange Parkway right of way shall be accomplished by
LLG executing a special warranty deed transferring fee simple title to the City of Allen,
Texas. The said warranty deed shall be executed simultaneously with the execution of the
deed transferring title to the subject property being acquired for park and recreational
purposes. However, said warranty deed shall be held in trust by Lewis Isaacks, and shall
not be recorded until such time as required by the State of Texas to finalize funding and/or
begin construction of Exchange Parkway. In the event that Exchange Parkway is not built,
the deeds shall be re -delivered to LLG Lands, Inc., and shall ,be null and void. It is further
agreed that in connection with the construction of Exchange Parkway, no paving assessment
shall be made against the land currently owned by LLG Lands, Inc. contiguous to the land
being donated by LLG herein. The decision to not levy a paving assessment in connection
with the extension of Exchange Parking shall not be deemed a waiver by the City of Allen
of any other impact on other fees in connection with any use or future development of
property owned by LLG or otherwise depicted on the LLG master plan map which right
and expressly reserved by Allen herein.
8. The City of Allen Staff agrees to support a recommendation for change in zoning
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on Tract 7 from "Office" to "Shopping Center" to the Planning & Zoning Commission, in
order to bring it into compliance with the City of Allen Comprehensive Land Use Plan.
Further, in the event that Allen Independent School District (AISD) acquires the property
depicted as Tracts 9 and 10A on the LLG master plan map, which would eliminate the
"Multi -family" use on said property, the City of Allen Staff agrees to support a
recommended change in the Comprehensive Plan Land Use to the Planning & Zoning
Commission of the southernmost 35 acres of Tract 3A depicted on the LLG master plan
to "Multi -family." The basis of this support is to preserve, through redistribution, the
availability of housing units that are currently available in this Neighborhood District, and
would be lost with the conversion of the southernmost portion of this property south of
Exchange Parkway, with the development of the City of Allen's park site and the AISD
school site. The parties agree and understand that although the City Staff is agreeing to
support the above change in the Comprehensive Plan, the Staff cannot bind either the
Planning & Zoning Commission or the City Council to approve said changes in the
Comprehensive Plan. Approval or disapproval of any requested changes shall be at the sole
discretion of the City Council, acting upon the recommendation of the Planning & Zoning
Commission, which decision shall be made as a final result of any such request made as
provided by the applicable laws of the State of Texas and ordinances of the City of Allen.
9. LLG makes the following representations and warranties, each of which shall be true
at the Closing to the best of Seller's knowledge and belief and shall survive the Closing:
(a) The transactions contemplated hereunder will not violate or constitute a
default under any agreement, mortgage or indenture to which LLG is a party
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or to which LLG is otherwise bound '
(b) LLG is the owner and has good and indefeasible title in fee simple to the
Subject Property, free and clear of all liens easements and other
encumbrances except those set forth in the title commitment and approved
by buyer.
(c) Seller is not a party to or bound by any express or implied agreement,
guaranty, indemnity, lease, sublease, option, warranty, debenture, bond,
promissory note, mortgager other instrument directly or indirectly affecting
the Subject Property except those items expressly referred to herein or on the
exhibits attached hereto.
(d) In addition to being the owner of the property, LLG also in the assignee of
that certain mortgage and Deed of Trust lien in favor of M Bank Dallas, N.A.
as referenced in that General Warranty Deed recorded at 93-01022562 of the
Land Records of Collin County, Texas. Any amount due and owing under
the above mortgage shall be paid from the consideration set for or herein and
at closing LLG shall execute a Release of Lien as to any amounts due under
the mortgage and secured by the Deed of Trust referenced above.
(e) There are no litigation or claims, either pending or threatened, which directly
or indirectly affect or relate to the Subject Project, to our knowledge.
(f) LLG has full power, capacity and authority to enter into this Contract and
to perform all of its obligations hereunder, and the person executing the
Agreement on behalf of LLG has the full power, capacity, and authority to
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execute the Agreement on behalf of LLG.
10. Each party hereto acknowledges that they have read and understand the effect of this
Agreement, have been advised by counsel as to the effect of this Agreement, and executes
the Agreement of their own free will and accord for the purposes and considerations set
forth therein.
11. This Agreement shall be construed under and in accordance with the laws of the
State of Texas, and all obligations of the parties created by this Agreement shall be
performed in Collin County, Texas. Each party shall pay the reasonable attorneys' fees and
expenses incurred by the prevailing party in connection with any lawsuit arising out of the
sole of the subject property hereunder. Any lawsuit necessary to enforce this Agreement
may be filed by either party in Collin County, Texas.
12. If any one or more of the provisions contained in this Agreement shall for any
reason be held invalid, illegal, or unenforceable in any respect, such invalidity, illegality or
unenforceability shall not affect any other provision of this Agreement shall, if possible, be
construed as if such invalid, illegal, or unenforceable provision had been drafted to be
valid, legal, or enforceable.
13. This Agreement constitutes the full agreement of these parties, and the terms of this
Agreement are contractual and not a mere recital.
14. WE FURTHER STATE THAT WE HAVE CAREFULLY READ THE
SETTLEMENT AGREEMENT, AND KNOW THE CONTENTS THEREOF, AND ARE
SIGNING SAME' AS OUR OWN FREE ACTS.
SETMEhOW AGREEMBDU Pap 7
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LSIGNED this Z0` day of , 1995, by:
(�j � LLG LANDS, INC.
By: /' J,
Its: er
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THE STATE OF TEXAS §
COUNTY OF DALLAS §
BEFORE ME, the undersigned authority, on this day personally appeared
Carey B. Wickland who, being by me first duly sworn, upon oath stated that he/she is the
President of LLG LANDS, INC., and he/she has read the above and foregoing
Settlement Agreement and that he/she has executed the same for the considerations therein
stated on behalf of LLG LANDS, INC.
By: Carey B. Wickland
Title: President
GIVEN UNDER MY HAND AND SEAL OF OFFICE this 20th day of
.July , 1995.
TA Y BLIC, State of Texas
My com ssion expires: August 27, 1997
sECfLEmEwr AGREEME Tr Page 9
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THE STATE OF TEXAS §
COUNTY OF COLLIN §
BEFORE ME, the undersigned authority, on this day personally appeared
11Ae-C-,4X TV , who, being by me first duly sworn, upon oath stated that he/she is the
of the CITY OF ALLEN, TEXAS., and he/she has read the above and
for going' --Settlement Agreement and that he/she has executed the same for the
considerations therein stated on behalf of the CITY OF ALLEN, TEXAS.
By: o i.4 IV IC
e&P44
Title: C ma*u A P,l2
GIVEN UNDER MY HAND AND SEAL OF OFFICE this o?� 5 day of
Ljq 1995.
AA� a � NOTARY P BLIC, State f Ta)46115
My commission expires: 4.141 q7
sErruzR Nr AGRE MENr Page 10
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