O-2412-6-05ORDINANCE NO. 2412-6-05
' AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF ALLEN, COLLIN
COUNTY, TEXAS, DESIGNATING REINVESTMENT ZONE NO. 27 (R-75, L.P.);
PROVIDING ELIGIBILITY OF THE ZONE FOR COMMERCIAL -INDUSTRIAL. TAX
ABATEMENT; CONTAINING FINDINGS THAT THE AREA QUALIFIES TO BE
DESIGNATED AS A REINVESTMENT ZONE AND THE IMPROVEMENTS SOUGHT
ARE FEASIBLE AND PRACTICABLE AND OF BENEFIT TO THE LAND AND THE
CITY; PROVIDING FOR A SEVERABILITY CLAUSE; PROVIDING FOR A
REPEALING CLAUSE; AND PROVIDING FOR THE EFFECTIVE DATE OF SAID
ORDINANCE.
WHEREAS, the City Council of the City of Allen, Texas, has caused notice to be published in a newspaper
having general circulation in the City and has delivered such notice to the presiding officer of the governing
body of each taxing unit that includes in its boundaries real property described herein; and,
VnIEREAS, the City Council of the City of Allen, Texas, has conducted a public hearing on the designation of
the area described herein as a reinvestment zone; and,
WHEREAS, the proposed Tax Abatement Agreement by and among the City of Allen, Texas, R-75, L.P., the
County of Collin, Texas, and the Collin County Community College District attached hereto as Exhibit "A," has
been presented to the City Council; and the City Council is of the opinion and funds that the terms and
' conditions thereof should be approved and that the Mayor should be authorized to execute the Agreement on
behalf of the City of Allen.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ALLEN,
COLLIN COUNTY, TEXAS, THAT:
SECTION 1. The City Council of the City of Allen, Texas, funds that the area described herein will, if
designated as a reinvestment zone, reasonably be likely to contribute to the rendition or expansion of primary
employment, or to attract major investment in the zone that will be of benefit to the property and contribute to
the economic development of the City. The City Council further finds that the improvements sought are feasible
and practicable and would be of benefit to the land to be included in the zone and to the City after the expiration
of a tax abatement agreement.
SECTION 2. Pursuant to the provisions of Section 312.201 of the Texas Tax Code, the real property
described in the Tax Abatement Agreement attached hereto as Exhibit "A" and made a part hereof for all
purposes is hereby designated as a reinvestment zone and for identification is assigned the time `Reinvestment
Zone No. 27."
SECTION 3. The property within Reinvestment Zone No. 27 is eligible for commercial -industrial tax
abatement effective on January 1, 2006.
SECTION 4. The Agreement attached hereto as Exhibit "A" having been reviewed by the City Council
and found to be acceptable and in the best interests of the City and its citizens, is hereby approved, and the
' Mayor is hereby authorized to execute the Agreement on behalf of the City of Allen, Texas.
SECTION 5. Should any word, sentence, paragraph, subdivision, clause, phrase or section of this ordinance
be adjudged or held to be void or unconstitutional, the same shall not affect the validity of the remaining
portions of said ordinance or as amended hereby, which shall remain in full force and effect.
SECTION 6. 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 7. This ordinance shall take effect immediately from and atter its passage in accordance with the
provisions of the Charter of the City of Allen, and it is accordingly so ordained.
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DULY PASSED AND APPROVED BY THE CITY COUNCII. OF THE CITY OF ALLEN, COLLIN
COUNTY, TEXAS, ON TILS THE le DAY OF JUNE, 2005.
APPROVED:
Stephen Terrell, MAYOR
APPROVED AS TO FORM: ATTEST:
Pit—er G. Smith, CftY ATTORNEY Shelley B. George, C, CITY SEWETARY
Ordinance No. 2412-6-05, Page 2
EXHIBIT"A"
STATE OF TEXAS §
§ TAX ABATEMENT AGREEMENT
COUNTY OF COLLIN §
This Tax Abatement Agreement (the "Agreement") is entered into by and among the City of
Allen, Texas (the "City"), the County of Collin and the Collin County Community College District
(the "Taxing Units") and R-75, L.P. ("Owner"), acting by and through their respective authorized
officers.
WITNESSETH:
WHEREAS, the City Council of the City, passed an Ordinance (the "Ordinance')
establishing Tax Abatement Reinvestment Zone No. 27 (the "Zone"), for commerciallindustrial tax
abatement, as authorized by the Property Redevelopment and Tax Abatement Act, Chapter 312 of
the Texas Tax Code, as amended (the "Tax Code"); and
WHEREAS, in order to maintain and enhance the commercial and industrial economic and
employment base of the Allen area, it is in the best interests of the taxpayers for the City to enter
into this Agreement; and
t WHEREAS, the City Council finds that the contemplated use of the Improvements
(hereinafter defined) and the other terms hereof are consistent with encouraging development of the
Zone in accordance with the purposes for its creation and in compliance with the Tax Abatement
Guidelines, the Ordinance adopted by the City, the Tax Code and all other applicable laws; and
WHEREAS, the City Council previously determined that the Improvements sought are
feasible and practicable and would be of benefit to the land to be included in the Zone and to the
City and the Taxing Units after expiration of this Agreement; and
WHEREAS, a copy of this Agreement has been furnished, in the manner prescribed by the
Tax Code, to the presiding officers of the governing bodies of each of the Taxing Units in which the
Improvements is located; and
NOW, THEREFORE, in consideration of the mutual benefits and promises contained
herein and for good and other valuable consideration, the adequacy and receipt of which are hereby
acknowledged, including the expansion of primary employment, the attraction of major investment
in the Zone, which contributes to the economic development of the City, and the enhancement of
the tax base within the City, the parties agree as follows:
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Ordinance No. 2412-605, Page 3
Article I
Definitions
Wherever used in this Agreement, the following terms shall have the meanings ascribed to
them:
"Base Year" shall mean the year in which the Tax Abatement Agreement is executed
(2005).
"Commencement of Construction" shall mean: (i) the submittal of plans to the applicable
governmental authorities; (ii) the issuance of building permit(s) by the applicable governmental
authorities; (iii) the approval of the Plans by the AFDC; and (iv) the grading or preparation of the
Land.
"Completion of Construction" shall mean that (i) the construction of the Improvements
on the Land has been substantially completed; and (ii) a final, permanent certificate(s) of
occupancy for the Lessee's occupancy of the Improvements has been issued.
"Effective Date" shall mean the last date of execution hereof.
' "Event of Bankruptcy or Insolvency" shall mean the dissolution or termination (other
than a dissolution or termination by reason of Owner merging with an affiliate of Owner) of
Owner's existence as a going business, insolvency, appointment of receiver for any part of
Owner's property and such appointment is not terminated within ninety (90) days after such
appointment is initially made, any general assignment for the benefit of creditors, or the
commencement of any proceeding under any bankruptcy or insolvency laws by or against Owner
and such proceeding is not dismissed within ninety (90) days after the filing thereof.
"Force Majeure" shall mean any contingency or cause beyond the reasonable control of
Owner, as applicable, including, without limitations, acts of God or the public enemy, war, riot,
civil commotion, insurrection, adverse weather, government or de facto governmental action or
inaction (unless caused by negligence or omissions of Owner), fires, explosions or floods, strikes,
slowdowns or work stoppages, shortage of materials and labor, or delays by the City.
"First Year of Tax Abatement" shall mean January 1, 2006 unless otherwise agreed by the
parties.
"Improvements" shall mean the improvements to be constructed on the Land as further
described herein, including but not limited to buildings and structures added to the Land.
"Land" shall mean the real property being Lot 2 and further described in Exhibit "A",
excluding the Improvements.
"Lessee" shall mean BSM Financial.
Ordinance No. 2412-6-05, Page 4
' "Plans" shall mean architectural renderings, building elevations, site, landscape and lighting
plans for the Improvements approved by the Board of Directors of the Allen Economic
Development Corporation.
"Premises" shall collectively mean the Land and Improvements.
"Taxable Value" means the appraised value, as certified by the Collin County Appraisal
District as of January 1 of a given year.
"Taxing Unit" shall collectively mean the City, Collin County and Collin County
Community College District.
Article II
General Provisions
2.1 Owner is the owner, or is under contract, to purchase Land, which Land is located
within the Zone.
2.2 The Improvements are not an improvement project financed by tax increment
bonds.
2.3 This Agreement is entered into subject to the rights of the holders of outstanding
bonds of the City.
2.4 The Owner represents that the Land and the Improvements are not owned or leased
by any member of the Allen City Council, or any member of the Allen Planning and Zoning
Commission, or any member of the governing body of any taxing units joining in or adopting this
Agreement
2.5 Owner shall, prior to May I of each calendar year during the term of this
Agreement, certify in writing to the City to the best of its knowledge that it is in substantial
compliance with each tern of the Agreement.
2.6 The Owner shall use the Improvements at all times in a manner that: (i) is consistent
with the City's Comprehensive Zoning Onlinance, as amended, and (ii) that is consistent with the
general purposes of encouraging development or redevelopment within the Zone.
2.7 Prior to Commencement of Construction, Owner shall submit and obtain approval
of the Plans by the Board of Directors of the Allen Economic Development Corporation.
2.8 Owner agrees to provide to the Lessee. and any other tenants of the Improvements,
the benefit of the tax abatement of the Improvements granted herein Owner shall, upon written
request, provide the Taxing Units, with satisfactory evidence that the benefits of this Tax
Agreement have been provided to any applicable tenants of the Improvements.
Ordinance No. 2412-6-05, Page 5
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Article III
Tax Abatement Authorized
3.1 This Agreement is authorized by the Tax Code, and in accordance with the Tax
Abatement Guidelines, and approved by resolution of the City Council of the City authorizing the
execution of this Agreement.
3.2 Subject to the terms and conditions of this Agreement, and provided the Taxable
Value of the Improvements, excluding the Land, is at least Four Million Dollars ($4,000,000) as of
the First Year of Abatement and as of January 1 of each calendar year thereafter for a period of ten
(10) consecutive years, the City hereby grants Owner an abatement of fifty percent (50%) of the
Taxable Value of the Improvements for a period of ten (10) years commencing the First Year of
Tax Abatement. The actual percentage of taxes subject to abatement for the Improvements shall
apply only to that portion of the Taxable Value of the Improvements that exceeds the Taxable
Value of the Land for the year in which this Agreement was executed (Base Year 2005).
3.3 The period of tax abatement herein authorized shall be ten (10) consecutive years,
beginning the First Year of Tax Abatement.
3.4 During the period of tax abatement herein authorized, Owner shall be subject to all
t City taxation not abated, including but not limited to, sales tax and ad valorem taxation.
Article IV
Improvements
4.1 Owner owns or is under contract to purchase the Land and agrees to construct or
cause to be constructed one two story office building containing at least 50,000 square feet of office
space (and other ancillary facilities, such as reasonably required parking and landscaping more fully
described in the submittals Sled by Owner with the City from time to time in order to obtain a
building permit) ("Improvements"). Nothing in this Agreement shall obligate Owner to construct
the Improvements on the Land and/or the Lessee to lease and occupy the Improvements, but said
actions are a condition precedent to tax abatement pursuant to this Agreement
4.2 As a condition precedent to the initiation of tax abatement pursuant to this
Agreement, Owner will diligently and faithfully, in a good and workmanlike manner, pursue the
Commencement of Construction within 120 days after the date of closing for the Owner's purchase
of the Land from the Allen Economic Development Corporation and, subject to events of Force
Majuere, to cause Completion of Construction to occur within 18 calendar months thereafter, as
good and valuable consideration for this Agreement, and all construction of the Improvements will
be in substantial accordance with all applicable state and local laws, codes, and regulations, (or
valid waiver thereof) provided, Owner shall have such additional time to complete and maintain the
' Improvements as may be required in the event of "Force Majeure," if Owner is diligently and
faithfully pursuing completion of the same.
Ordinance No. 2412-605, Page 6
4.3 Subject to events of casualty, condemnation, or Force Majeure, Owner agrees to
' maintain the Improvements in substantial accordance with all applicable state and local laws, codes,
and regulations for a period of not less than ten (10) years after the date the final permanent
certificate of occupancy is issued for the Improvements.
4.4 The Taxable Value of the Improvements, excluding the Land shall be at least Four
Million Dollars ($4,000,000) as of the First Year of Abatement and as of January 1 of each calendar
year thereafter for a period of ten (10) consecutive years.
4.5 The Taxing Units, and their agents and employees, shall have the right of
reasonable access to the Improvements to inspect the Improvements at reasonable times during
normal business hours and with reasonable notice to Owner, and in accordance with their visitor
access and security policies, in order to insure that the construction is in accordance with this
Agreement and all applicable state and local laws and regulations (or valid waiver thereof).
4.6 The Owner and Lessee shall have executed a lease for at least 28,000 square feet
of office space in the Improvements for a period of at least ten (10) continuous years beginning
no later than the date of Completion of Construction.
Article V
Default; Recapture of Abated Taxes
' 5.1 In the event that Owner: (i) fails to construct the Improvements in accordance with
this Agreement or in accordance with applicable State or local laws, codes or regulations; (ii) has
delinquent ad valorem or sales taxes owed to the Taxing Units (provided Owner retains the right to
timely and properly protest and/or contest such taxes or assessment); (iii) breaches any terms and
conditions of this Agreement; or (iv) upon the occurrence of any "Event of Bankruptcy or
Insolvency", then Owner, after the expiration of the notice and cure periods described herein, shall
be in default of this Agreement. As liquidated damages in the event of such default, Owner shall,
within thirty (30) days after demand, pay to the applicable Taxing Units, all taxes which otherwise
would have been paid to the applicable Taxing Units, without benefit of tax abatement with interest
at the statutory rate for delinquent taxes as determined by Section 33.01 of the Tax Code, as
amended, but without penalty. The parties acknowledge that actual damages in the event of default
termination would be speculative and difficult to determine. The parties further agree that any
abated tax, including interest as a result of this Agreement, at the statutory rate for delinquent taxes,
shall be recoverable against Owner and shall constitute a tax lien against the Premises and shall
become due, owing and shall be paid to the applicable Taxing Units within thirty (30) days after
termination.
5.2 Upon breach by Owner of any obligations under this Agreement, the applicable
Taxing Units shall notify Owner in writing. Owner shall have thirty (30) days from receipt of the
notice in which to cure any such default. If the default cannot reasonably be cured within a thirty
(30) day period, and Owner has diligently pursued such remedies as shall be reasonably necessary
' to cure the default, then the City and/or Taxing Units, as the case may be, may, in its discretion
extend the period in which the breach must be cured.
Ordinance No. 2412-6-05, Page 7
' 5.3 If the Owner fails to cure the default within the time provided herein or, as such
time period may be extended, then the applicable Taxing Unit shall, at its sole option, have the right
to terminate this Agreement by written notice to Owner. It is agreed and understood that
termination of this Agreement by one or more Taxing Units shall not be deemed a termination by
another Taxing Unit.
5.4 Upon termination of this Agreement by any Taxing Unit, all tax abated as a result of
this Agreement shall become a debt to applicable Taxing Unit, as liquidated damages, and shall
become due and payable not later than thirty (30) days after a notice of termination is delivered to
Owner. The Taxing Units shall have all remedies for the collection of the abated tax provided
generally in the Tax Code for the collection of delinquent property tax. The applicable Taxing
Units at its sole discretion has the option to provide a repayment schedule. The computation of tax
abated for the purposes of the Agreement shall be based upon the full Taxable Value of the
Improvements without tax abatement for the years in which tax abatement hereunder was received
by Owner, as determined by the appraisal district, multiplied by the tax rate of the years in question,
as calculated by the applicable Tax Assessor -Collector. The liquidated damages shall incur
penalties as provided for delinquent taxes and shall commence to accrue after expiration of the
thirty (30) day payment period.
Article VI
Annual Application for Tax Exemption
' It shall be the responsibility of Owner, pursuant to the Tax Code, to file an annual
exemption application form with the Chief Appraiser for each appraisal district in which the
eligible taxable property has situs. A copy of each exemption application shall be submitted to the
Taxing Units, upon request.
Article VII
Annual Rendition
Owner shall annually render the value of the Improvements to the appraisal district and
provide a copy of the same to the City upon request.
Article VIII
Miscellaneous
8.1 Assignment. This Agreement shall be binding on and inure to the benefit of the
parties to it and their respective heirs, executors, administrators, legal representatives, successors,
and permitted assigns. This Agreement may not be assigned without the consent of the Taxing
Units, provided however this Agreement may be assigned by Company, without the consent of the
Taxing Units, upon 30 days prior written notice, in connection with the transfer of ownership of the
Premises to an entity formed by the Company. The City shall have the authority to consent to an
' assignment on behalf of the Taxing Units.
Ordinance No. 2412-6-05, Page 8
8.2 Notice. All notices required by this Agreement shall be addressed to the following,
' or such other party or address as the parties designate in writing, by certified mail, postage prepaid,
return receipt requested, or by hand delivery.
If intended for City, to:
City of Allen
Atm: City Manager
One Allen Civic Plaza
305 Century Parkway
Allen, Texas 75013
If intended for Collin County, to:
County of Collin
Attn: Collin Country Judge Ron Harris
210 S. McDonald Street
McKinney, Texas 75069
With a copy to:
Peter G. Smith
Nichols, Jackson, Dillard,
Hager & Smith
1800 Lincoln Plaza
500 N. Akard
Dallas, Texas 75201
If intended for Collin County College District, to:
Collin County Community College District
' Attn: Sam Roach, ChaGman
4800 Preston Park Blvd.
Plano, Texas 75093
If intended for R-75, L.P., to:
R-75, L.P.
Attn: Fred Gans
5440 Harvest Hill Road
Suite 128
Dallas, Texas 75230
I.1
With a copy to:
Michael C. Witt
2626 Cole Avenue, Suite 705
Dallas, Texas 75204
(214)981-9488
(214) 855-1313 FAX
E-mail: mcw@mcwittlaw.com
Ordinance No. 2412-6-05, Page 9
8.3 (a) Authorizations. This Agreement was authorized by ordinance of the City
Council authorizing the Mayor to execute this Agreement on behalf of the City.
(b) This Agreement was authorized by the minutes of the Commissioners
Court of Collin County, Texas, at a meeting whereupon it was duly detemtined that the County
Judge would execute the Agreement on behalf of Collin County, Texas.
(c) This Agreement was authorized by the Board Minutes of the Board of Trustees
of Collin County Community College District at a Board Meeting whereupon it was duly
determined that the Chairman would execute the Agreement on behalf of Collin County
Community College District.
8.4 Severability, hi the event any section, subsection, paragraph, sentence, phrase or
word herein is held invalid, illegal or unconstitutional, the balance of this Agreement, shall be
enforceable and shall be enforced as if the parties intended at all times to delete said invalid
section, subsection, paragraph, sentence, phrase or word; and such invalid, illegal,
unconstitutional or unenforceable section, subsection, paragraph, sentence, phrase or word shall
be substituted by a section, subsection, paragraph, sentence, phrase or word as near in substance
thereto as may be valid, legal, constitutional and enforceable.
8.5 Applicable Law. This Agreement shall be construed under the laws of the State of
Texas. Venue for any action under this Agreement shall be the State District Court of Collin
' County, Texas. This Agreement is performable in Collin County, Texas. The parties agree to
submit to the jurisdiction of said court.
8.6 Counterparts. This Agreement may be executed in any number of counterparts,
each of which shall be deemed an original and constitute one and the same instrument.
8.7 Entire Agreement. This Agreement embodies the complete agreement of the parties
hereto, superseding all oral or written previous and contemporary agreements between the parties
and relating to the matters in this Agreement, and except as otherwise provided herein cannot be
modified without written agreement of the parties to be attached to and made a part of this
Agreement.
8.8 Recordation of Agreement. A certified copy of this Agreement shall be recorded in
the Deed Records of Collin County, Texas.
8.9 Incorporation of Recitals. The determinations recited and declared in the
preambles to this Agreement are hereby incorporated herein as part of this Agreement.
8.10 Exhibits. All exhibits to this Agreement are incorporated herein by reference for
all purposes, whatever reference is made to the same.
Ordinance No. 2412-6-05, Page 10
8.11 Survival of Covenants. Any of the representations, warranties, covenants, and
' obligations of the parties, as well as any rights and benefits of the parties, pertaining to a period
of time following the termination of this Agreement shall survive termination.
8.12 Contingencies. This Agreement is contingent upon: (i) the Owner closing the
purchase of the Land from the Allen Economic Development Corporation on or before the
expiration of 120 days following the Effective Date of the Purchase and Sale Agreement by and
between the Owner and the AEDC for the Land; (ii) the Owner and Lessee executing a lease for at
least 28,000 square feet of office space in the Improvements prior to the closing of the Owner's
purchase of the Land from the Allen Economic Development Corporation (the `Lease"); and (iii)
the Owner providing the City with a fully executed copy of the Lease.
EXECUTED in duplicate originals this the day of 2005.
CITY OF ALLEN, TEXAS
By:
STEPHEN TERRELL, MAYOR
ATTEST:
By:
SHELLEY GEORGE, CITY SECRETARY
APPROVED AS TO FORM:
By:
PETER G. SMITH, CITY ATTORNEY
EXECUTED in duplicate originals this the _ day of , 2005.
R-75, L.P.
La
FRED GANS, PRESIDENT
Ordinance Na 2412-6-05, Page 11
EXECUTED in duplicate originals this the _ day of 2005.
'
COLLIN COUNTY, TEXAS
Lo
RON HARRIS, COUNTY JUDGE
EXECUTED in duplicate originals this the day of 2005.
COLLIN COUNTY COMMUNITY COLLEGE
DISTRICT
0
MAYOR'S ACKNOWLEDGMENT
' STATE OF TEXAS
COUNTY OF COLLIN
This instrument was acknowledged before me on the _ day of ,
2005 by Stephen Terrell, as Mayor of the City of Allen, Texas.
My Commission Expires:
1
Notary Public In and For the State of Texas
Ordinance No. 2412-6-05, Page 12
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R -75, L.P.'S ACKNOWLEDGMENT
STATE OF TEXAS §
COUNTY OF
This instrument was acknowledged before me on the _ day of ,
2005, by Fred Gans, President of R-75, L.P. on behalf of said partnership.
Notary Public In and For the State of Texas
My Commission Expires:
COUNTY'S ACKNOWLEDGMENT
' STATE OF TEXAS
COUNTY OF COLLIN
This instrument was acknowledged before me on the _ day of ,
2005, by Ron Harris, as County Judge of Collin County, Texas.
My Commission Expires:
1
Notary Public In and For the State of Texas
Ordinance No. 2412-6-05, Page 13
COLLEGE DISTRICT'S ACKNOWLEDGMENT
STATE OF TEXAS S
COUNTY OF COLLIN
This instrument was acknowledged before me on the _ day of
2005, by Sam Roach, being the Chairman of the Collin County Community College District.
My Commission Expires:
I
Notary Public In and For the State of Texas
Ordinance No. 2412-605, Page 14
Being a 4.099 -acre tract of land located in the McBain Jamison Survey, Abstract No.
491 and the Thomas G. Kennedy Survey, Abstract No. 500, City of Allen, Collin County,
Texas, and being a part of a 16.306 acre tract of land conveyed to City of Allen and/or
Allen ISD and Collin County and /or Collin County CCD as recorded in Instrument No.
92-0020531 of the Deed Records of Collin County, Texas said 16.306 acres of land
being more particularly described by metes and bounds in deed to W. Christopher
Price, Trustee, as recorded in Volume 1831, Page 638 of the Deed Records of Collin
County, Texas and being more particularly described by metes and bounds as follows:
Commencing at a 1/2 -inch steel rod found at the most northerly northwest corner of
said City of Allen tract lying in the east right-of-way line of U.S. Highway No. 75 (a
variable width right-of-way) and lying in the approximate centerline of Ridgemont Drive;
Thence along the said east right-of-way line of U.S. Highway No. 75 (a variable width
right-of-way) as follows:
' South 14 degrees 55 minutes 49 seconds West, a distance of 34.18 feet to a 1/2 -inch
steel rod found for corner;
South 53 degrees 33 minutes 56 seconds West, a distance of 77.98 feet to a 1/2 -inch
steel rod found for corner;
South 01 degrees 29 minutes 04 seconds East, a distance of 156.85 feet a 1/2 -inch
steel rod found for comer;
South 18 degrees 18 minutes 21 seconds West, a distance of 361.77 feet to the
PLACE OF BEGINNING;
Thence South 71 degrees 41 minutes 39 seconds East departing the said east right-of-
way line of U.S. Highway No. 75, a distance of 326.08 feet to a 1/2 -inch steel rod set for
corner in the west right-of-way line of the Southern Pack Transportation Company
Houston -Denison Main Line of Railroad;
Thence along the west right-of-way line of said railroad as follows:
South 21 degrees 11 minutes 36 seconds West, a distance of 649.77 feet to a 1/2 -inch
steel rod found for comer;
' South 01 degrees 41 minutes 36 seconds West, a distance of 29.47 feet to a 1/2 -inch
steel rod set for comer;
EXHIBIT "A"
'
LEGAL DESCRIPTION OF THE LAND
PROPERTY DESCRIPTION OF LOT 2 OF
RIDGEMONT/75 ADDITION
Being a 4.099 -acre tract of land located in the McBain Jamison Survey, Abstract No.
491 and the Thomas G. Kennedy Survey, Abstract No. 500, City of Allen, Collin County,
Texas, and being a part of a 16.306 acre tract of land conveyed to City of Allen and/or
Allen ISD and Collin County and /or Collin County CCD as recorded in Instrument No.
92-0020531 of the Deed Records of Collin County, Texas said 16.306 acres of land
being more particularly described by metes and bounds in deed to W. Christopher
Price, Trustee, as recorded in Volume 1831, Page 638 of the Deed Records of Collin
County, Texas and being more particularly described by metes and bounds as follows:
Commencing at a 1/2 -inch steel rod found at the most northerly northwest corner of
said City of Allen tract lying in the east right-of-way line of U.S. Highway No. 75 (a
variable width right-of-way) and lying in the approximate centerline of Ridgemont Drive;
Thence along the said east right-of-way line of U.S. Highway No. 75 (a variable width
right-of-way) as follows:
' South 14 degrees 55 minutes 49 seconds West, a distance of 34.18 feet to a 1/2 -inch
steel rod found for corner;
South 53 degrees 33 minutes 56 seconds West, a distance of 77.98 feet to a 1/2 -inch
steel rod found for corner;
South 01 degrees 29 minutes 04 seconds East, a distance of 156.85 feet a 1/2 -inch
steel rod found for comer;
South 18 degrees 18 minutes 21 seconds West, a distance of 361.77 feet to the
PLACE OF BEGINNING;
Thence South 71 degrees 41 minutes 39 seconds East departing the said east right-of-
way line of U.S. Highway No. 75, a distance of 326.08 feet to a 1/2 -inch steel rod set for
corner in the west right-of-way line of the Southern Pack Transportation Company
Houston -Denison Main Line of Railroad;
Thence along the west right-of-way line of said railroad as follows:
South 21 degrees 11 minutes 36 seconds West, a distance of 649.77 feet to a 1/2 -inch
steel rod found for comer;
' South 01 degrees 41 minutes 36 seconds West, a distance of 29.47 feet to a 1/2 -inch
steel rod set for comer;
' Thence North 71 degrees 41 minutes 39 seconds West departing the said west right-of-
way line of the Southern Pack Transportation Company Houston -Denison Main Line
of Railroad, a distance of 177.48 feet to a 1/2 -inch steel rod set for comer;
Thence North 18 degrees 18 minutes 21 seconds East, a distance of 133.28 feet to a
1/2 -inch steel rod set for corner;
Thence North 10 degrees 07 minutes 03 seconds West, a distance of 261.01 feet to a
1/2 -inch steel rod set for corner in the East right-of-way line of U.S. Highway No. 75 (a
variable width right-of-way);
Thence along the said east right-of-way line of U.S. Highway No. 75 as follows:
North 18 degrees 23 minutes 17 second East, a distance of 76.50 feet to a 5/8 -inch
steel rod found for corner;
North 18 degrees 18 minutes 21 seconds East, a distance of 237.57 feet to the PLACE
OF BEGINNING.
Containing a computed area of 178,557 square feet or 4.099 acres of land