HomeMy WebLinkAbout2007-IDA-126 Baypark Industrial Properties, LPNO. 2007-IDA-/0Z §
STATE OF TEXAS § �'
§ 1
COUNTY OF HARRIS §
nMUSTRIAL DISTRICT AGREEMM
j.
This AGREEMENT made and entered into by and between the CITY
OF LA PORTE, TEXAS, a municilpal col re$ ratio of Harris County,
Texa,shereinafter called "CITY", and l5/4ti/ �/-3� r'� �.J dt.�S TQt RL
-&o tJV?-7- F- s , L-•P a %e-X AS corporation, hereinafter
" "
called COMPANY
r
W I T N E -S'-S !E T H:
WHEREAS, it is the established policy of the City Council of
the City of La Porte, Texas, to adopt. such reasonable measures
from time to time as are permitted �y law;_and which will tend to
enhance the economic stability and growth=t-of the City and its
environs by attracting the location of new and the expansion of
existing industries therein, and such policy is•'hereby reaffirmed
and adopted by this City Council as being in the best interest of
the City and its citizens; and
WHEREAS, pursuant to its policy, City has enacted Ordinance
No. 729, designating portions ofthe area located in its
extraterritorial jurisdiction as the "Battleground industrial
District of La Porte, Texas", and Ordinance No. 842A, designating
portions of the area located in its extraterritorial jurisdiction
as the 'Bayport Industrial District of La Porte, Texas",
hereinafter collectively called "Dis�rict", such Ordinances being
in compliance with the Municipal Annation Act of Texas, codified
as Section 42.044, Texas Local Gove ent Code; and
WHEREAS, Company is the owner'of land within a designated
Industrial District of the City of La Porte, said land being
legally described on the attached Exhibit "A" (hereinafter
"Land"); and said Land being more particularly shown on a plat
attached as Exhibit "B", which plat describes the: ownership
boundary lines; a site layout, showing all improvements; including
pipelines and railroads, and also showing areas of the Land
previously annexed by the City of La Porte; and
WHEREAS, City desires to encourage the expansion and growth
of industrial plants within said Districts and for such purpose
desires to enter into this Agreement with Company pursuant to
Ordinance adopted by the City Council of said City and recorded in
the official minutes of said City:
NOW, THEREFORE, in consideration of the premises and the
mutual agreements of the parties contained herein and pursuant to
the authority granted under the Municipal Annexation Act and the
Ordinances of City referred to above, City and Company hereby
agree with each other as follows:
I.
City covenants, agrees and guarantees that during the term of this
Agreement, provided below, and subject to the terms and provisions
of this Agreement, said District shall continue to retain its
extraterritorial status as an industrial district, at least to the
extent that the same covers the Land belonging to Company and its
assigns, unless and until the status of said Land, or a portion or
portions thereof, as an industrial district may be changed
pursuant to the terms of this Agreement. Subject to the foregoing
and to the later provisions of this Agreement, City does further
covenant, agree and guarantee that such industrial district, to
the extent that it covers said Land lying within said District and
not now within the corporate limits of City, shall be immune from
annexation by City during the term hereof (except as hereinafter
provided) and shall have no right to have extended to it any
services by City, and that all Land, including that which has been
heretofore annexed, shall not have extended to it by ordinance any
rules and regulations (a) governing plats and subdivisions of
land, (b) prescribing any building, electrical, plumbing or
inspection code or codes, or (c) attempting to exercise in any
manner whatever control over the conduct of business thereon;
provided, however, any portion of Land constituting a strip of
land 1001 wide and contiguous to either Fairmont Parkway, State
Highway 225, or State Highway 146, shall be subject to the rules
and regulations attached hereto as Exhibit "C" and made a part
hereof; and provided, however, it is agreed that City shall have
the right to institute or intervene in any administrative and/or
judicial proceeding authorized 'by the Texas Water Code, the Texas
Clean Air Act, the Texas Health'& Safety Code, or other federal or
state environmental laws, rules or regulations, to the same extent
and to the same intent and effect as if all Land covered by this
Agreement were not subject to the Agreement.
II.
In the event that any portion of the Land has heretofore been
annexed by City, Company agrees to render and pay full City ad
valorem taxes on such annexed Land and improvements, and tangible
personal property.
Under the terms of the Texas Property Tax Code (S.B. 621, Acts of
the 65th Texas Legislature, Regular Session, 1979, as amended),
the appraised value for tax purposes of the annexed portion of
Land, improvements, and tangible personal property shall be
determined by the Harris County Appraisal District. The parties
hereto recognize that said Appraisal District has no authority to
appraise the Land, improvements, and tangible personal property in
the unannexed area for the purpose of computing the nin lieun
2
payments hereunder. Therefore, the parties agree that the
appraisal of the Land, improvements, and tangible personal
property in the unannexed area shall be conducted by City, at
City's expense, by an independent appraiser of City's selection.
The parties recognize that in making such appraisal for "in lieu"
payment purposes, such appraiser must of necessity appraise the
entire (annexed and unannexed) Land, improvements, and tangible
personal property.
Nothing herein contained shall ever be interpreted as lessening
the authority of the Harris County Appraisal District to establish
the appraised value of Land, improvements, and tangible personal
property in the annexed portion, for ad valorem tax purposes.
A. The properties upon which the "in lieu of" taxes are assessed
are more fully described in subsections 1, 2, and 3 of subsection
C, of this Paragraph III (sometimes collectively called the
"Property"); provided, however, pollution control equipment
installed on the Land which is exempt from ad valorem taxation
pursuant to the provisions of Sec. 11.31 of the Texas Property Tax
Code is exempt from ad valorem taxation and "in lieu of taxes"
hereunder. Property included in this Agreement shall not be
entitled to an agricultural use exemption for purposes of
computing "in lieu of taxes" hereunder.
B. On or before the later of December 31, 2008, or 30 days from
mailing of tax bill and in like manner on or before each December
31st thereafter, through and including December 31, 2019, Company
shall pay to City an amount of "in lieu of taxes" on Company's
Property as of January 1st of the current calendar year ("Value
Year").
C. Company and City agree that the following percentages
("Percentage Amount") shall apply during each of the Value Years:
Value
Year
2008:
62%
Value
Year
2009:
62%-
Value
Year
2010:
62%
Value
Year
2011:
624;
Value
Year
2012:
62%-
Value
Year
2013:
621
Value
Year
2014:
634;
Value
Year
2015:
63%;
Value
Year
2016:
63%
Value
Year
2017:
63%
Value
Year
2018:
63-%
Value
Year
2019:
63%
Company agrees to pay to City an amount of "in lieu of
taxes" on Company's land, improvements and tangible
personal property in the unannexed area equal to the sum
of:
1. Percentage Amount of the amount of ad valorem taxes
which would be payable to City if all of the Company's
Land and improvements which existed on January 1, 2008,
and each January 1 thereafter of the applicable Value
Year during the term of this Agreement, (excluding
amounts which would be so payable with respect to any
Substantial Increase in value of such Land and
improvements to which subparagraph 2, below applies),
had been within the corporate limits of City and
appraised each year by City's independent appraiser, in
accordance with the applicable provisions of the Texas
Property Tax Code; and
2. (a) On any Substantial Increase in value of the Land,
improvements, and tangible personal property
(excluding inventory) dedicated to new
construction, in excess of the appraised value of
same on January 1, 2007, resulting from new
construction (exclusive of construction in
progress, which shall be exempt from taxation),
for each Value Year$ following completion of
construction in progress, an amount equal to
Twenty-five percent (25%), if construction is
completed in Value years 2008 through 2013; and
Twenty percent (20%), if construction is completed
in Value years 2014 through 2019, of the amount of
ad valorem taxes which would be payable to City if
all of said new construction had been within the
corporate limits of City and appraised by City's
independent appraiser, in accordance with the
applicable provisions of the Texas Property Tax
Code.
In the case of new construction which is completed
in Value Year 2016 or later, and provided,
further, that City and Company enter into an
Industrial District Agreement after the expiration
of this Industrial. District Agreement, then, and
in such events, such new construction shall be
entitled to additional Value Years under the new
Agreement at a Twenty percent (20k) valuation
under this subparagraph (a), for a total of six
(6) Value Years, but not extending beyond Value
Year 2022.
(b) A Substantial Increase in value of the Land,
improvements, and tangible personal property
(excluding inventory) as used in subparagraph 2(a)
above, is defined as an increase in value that is
the lesser of either:
i. at least Five percent
appraised value of Land
January 1., 2007; or
ii. a cumulative value of at
Li
(5k) of the total
and improvements, on
least $3,500,000.00.
For the purposes of this Agreement, multiple
projects that are completed in a Value Year can be
cumulated to arrive at the amount for the increase
in value.
(c) If existing Property values have depreciated below
the Property value established on January 1, 2007,
an amount equal to the amount of .the depreciation
will be removed from the calculation under this
subparagraph 2 to restore the value to the January
1, 2007, value; and
3. Percentage Amount of the amount of ad valorem taxes
which would be payable to City on all of the Company's
tangible personal property of every description,
located in an industrial district of City, including,
without limitation, inventory, (including inventory in
a federal Foreign Trade Zone and including Freeport
exempted inventory), oil, gas, and mineral interests,
items of leased equipment, railroads, pipelines, and
products in storage located on the Land, if all of said
tangible personal property which existed on January 1,
2008, and each January 1 thereafter of the applicable
Value Year during the term of this Agreement,
(excluding amounts which would be so payable with
respect to any Substantial Increase in value of such
tangible personal property to which subparagraph 2,
above applies), had been within the corporate limits of
City and appraised each year by the City's independent
appraiser, in accordance with the applicable provisions
of the Texas Property Tax Code.
with the sum of 1, 2 and 3 reduced by the amount of City's ad
valorem taxes on the annexed portion thereof as determined by
appraisal by the Harris County Appraisal District.
4. Notwithstanding the above, should City elect to grant
the freeport inventory exemption authorized by Article
VIII, Section 1-j of the Texas Constitution and Section
11.251 of the Texas Property Tax Code to taxpayers
within the City limits, then the freeport inventory
exemption shall apply to parties to this Agreement.
Further, should inventory or any other class or type of
property become exempt from taxation by constitutional
amendment or act of the Texas Legislature (including,
but not limited to, Article Vill, Section 1-n, of the
Texas Constitution and Section 11.253 of the Texas
Property Tax Code), such class or type of property
shall be exempt for purposes of this Agreement, unless
the City Council of the City of La Porte shall by
Ordinance provide for the continued taxation of such
property under the authority of any applicable
provisions of the Texas Constitution and Texas
Statutes.
E
5. City and Company acknowledge circumstances might
require the City to provide emergency services to
Company's Property described on Exhibit "A" attached
hereto. Emergency services are limited to fire,
police, and public works emergency services. if
Company is not a member of Channel Industries Mutual
Aid Association (CIMA), Company agrees to reimburse
City for its costs arising out of any emergency
response requested by Company to Company's property,
and to which City agrees to respond. If Company is a
member of CIMA, the obligations of Company and City
shall be governed by the LIMA agreement, to which
agreement City is a party.
IV.
This Agreement shall extend for a period beginning on the ist day
of January, 2008, and continuing thereafter until December 31,
2019, unless extended for an additional period or periods of time
upon mutual consent of Company and City as provided by the
Municipal Annexation Act; provided, however, that in the event
this Agreement is not so extended for an additional. period or
periods of time on or before August 31, 2019, the agreement of
City not to annex property of Company within the District shall
terminate. In that event, City shall have the right to commence
immediate annexation proceedings as to all of Company's property
covered by this Agreement, notwithstanding any of the terms and
provisions of this Agreement.
Company agrees that if the Texas Municipal Act, Section 42.044,
Texas Local Government Code, is amended after January 1, 1994, or
any new legislation is thereafter enacted by the Legislature of
the State of Texas which imposes greater restrictions on the right
of City to annex land belonging to Company or imposes further
obligations on City in connection therewith after the annexation
of such land, Company will waive the right to require City to
comply with any such additional restrictions or obligations and
the rights of the parties shall be then determined in accordance
with the provisions of said Texas Municipal Annexation Act as the
same existed January 1, 1994.
V.
This Agreement may be extended for an additional period or periods
by agreement between City and Company and/or its assigns even
though it is not extended by agreement between City and all of the
owners of all land within the District of which it is a part.
Vi.
A. In the event Company elects to protest the valuation for tax
purposes set on its said properties by City or by the Harris
County Appraisal District for any year or years during the terms
hereof, nothing in this Agreement shall preclude such protest and
5. City and Company acknowledge circumstances might
require the City to provide emergency services to
Company's Property described on Exhibit W attached
hereto. Emergency services are limited to fire,
police, and public works emergency services. if
Company is not a member of Channel Industries Mutual
Aid Association (CIMA), Company agrees to reimburse
City for its costs arising out of any emergency
response requested by Company to Company's property,
and to which City agrees to respond. If Company is a
member of CIMA, the obligations of Company and City
shall be governed by the LIMA agreement, to which
agreement City is a party.
IV.
This Agreement shall extend for a period beginning on the 1st day
of January, 2008, and continuing thereafter until December 31,
2019, unless extended for an additional period or periods of time
upon mutual consent of Company and City as provided by the
Municipal Annexation Act; provided, however, that in the event
this Agreement is not so extended for an additional. period or
periods of time on or before August 31, 2019, the agreement of
City not to annex property of Company within the District shall
terminate. In that event, City shall have the right to commence
immediate annexation proceedings as to all of Company's property
covered by this Agreement, notwithstanding any of the terms and
provisions of this Agreement.
Company agrees that if the Texas Municipal Act, Section 42.044,
Texas Local Government Code, is amended after January 1, 1994, or
any new legislation is thereafter enacted by the Legislature of
the State of Texas which imposes greater restrictions on the right
of City to annex land belonging to Company or imposes further
obligations on City in connection therewith after the annexation
of such land, Company will waive the right to require City to
comply with any such additional restrictions or obligations and
the rights of the parties shall be then determined in accordance
with the provisions of said Texas Municipal Annexation Act as the
same existed January 1, 1994.
V.
This Agreement may be extended for an additional period or periods
by agreement between City and Company and/or its assigns even
though it is not extended by agreement between City and all of the
owners of all land within the District of which it is a part.
VI.
A. In the event Company elects to protest the valuation for tax
purposes set on its said properties by City or by the Harris
County Appraisal District for any year or years during the terms
hereof, nothing in this Agreement shall preclude such protest and
6
Company shall have the right to take all legal steps desired by it
to reduce the same.
Notwithstanding such protest by Company, and except as otherwise
provided in Article VI(B), Company agrees to pay to City on or
before the date therefor hereinabove provided, at least the total
of (a) the total amount of ad valorem taxes on the annexed
portions, plus (b) the total amount of the "in lieu of taxes" on
the unannexed portions of Company's hereinabove described property
which would be due to City in accordance with the foregoing
provisions of this Agreement on the basis of renditions which
shall be filed by Company.
When the City or Harris County Appraisal District (as the case may
be) valuation on said property of Company has been so finally
determined, either as the result of final judgment of a court of
competent jurisdiction or as the result of other final conclusion
of the controversy, then within thirty (30) days thereafter
Company shall make payment to City of any additional payment due
hereunder, or City shall make payment to Company of any refund
due, as the case may be, based on such final valuation, together
with applicable penalties, interests, and costs.
B. Should Company disagree with any appraisal made by the
independent appraiser selected by City pursuant to Article II
above (which shall be given in writing to Company), Company shall,
within twenty (20) calendar days of receiving City's invoice, give
written notice to the City of such disagreement. In the event
Company does not give such written notice of disagreement within
such time period, the appraisal made by said independent appraiser
shall be final and controlling for purposes of the determination
of "in lieu of taxes" payments to be made under this Agreement.
Should Company give such notice of disagreement, Company shall
also submit to the City with such notice a written statement
setting forth what Company believes to be the market value of
Company's hereinabove described property. Both parties agree to
thereupon enter into good faith negotiations in an attempt to
reach an agreement as to the market value of Company's property
for "in lieu" purposes hereunder. if, after the expiration of
thirty (30) days from the date the notice of disagreement was
received by City, the parties have not reached agreement as to
such market value, the parties agree to submit the dispute to
final arbitration as provided in subparagraph 1 of this Article
VI (B) .
Notwithstanding any such disagreement by Company, Company agrees
to pay to City on or before December 31 of each year during the
term hereof, at least the total of (a) the ad valorem taxes on the
annexed portions, plus (b) the total amount of the "in lieu°
payments which would be due hereunder on the basis of Company's
written valuations statement submitted to City by Company
hereunder, or the total assessment and "in lieu of taxes" thereon
for the last preceding year, whichever is higher.
1. A Board of Arbitrators shall be created composed of one
person named by Company, one by City, and a third to be
named by those two. In case of no agreement on this
arbitrator in 10 days, the parties will join in a
written request that the Chief Judge of the U.S.
District Court for the Southern District of Texas
appoint the third arbitrator who, (as the "Impartial
Arbitrator°) shall preside over the arbitration
proceeding. The sole issue to be determined in the
arbitration shall be resolution of the difference
between the parties as to the fair market value of
Company's property for calculation of the "in lieu"
payment and total payment hereunder for the year in
question. The Board shall hear and consider all
relevant and material evidence on that issue including
expert opinion, and shall render its written decision
as promptly as practicable. That decision shall then
be final and binding upon the parties, subject only to
judicial review as may be available under the Texas
General Arbitration Act (Chapter 171, "General
Arbitration", Texas Civil Practice and Remedies Code).
Costs of the arbitration shall be shared equally by the
Company and the city, provided that each party shall
bear its own attorneys fees.
VII.
City shall be entitled to a tax lien on Companyls above described
property, all improvements thereon, and all tangible personal
property thereon, in the event of default in payment of "in lieu
of taxes" payments hereunder, which shall accrue penalty and
interest in like manner' as delinquent taxes, and which shall be
collectible by City in the same manner as provided by law for
delinquent taxes.
VIII.
This Agreement shall inure to the benefit of and be binding upon
City and Company, and upon Company's successors and assigns,
affiliates and subsidiaries, and shall remain in force whether
Company sells, assigns, or in any other manner disposes of, either
voluntarily or by operation of law, all or any part of the
property belonging to it within the territory hereinabove
described, and the agreements herein contained shall be held to be
covenants running with the land owned by Company situated within
said territory, for so long as this Agreement or any extension
thereof remains in force. Company shall give City written notice
within ninety (90) days, with full particulars as to property
assigned and identity of assignee, of any disposition of the Land,
and assignment of this Agreement.
IX.
If City enters into an Agreement with any other landowner with
respect to an industrial district or enters into a renewal of any
existing industrial district agreements after the effective date
hereof and while this Agreement is in effect, which contains terms
and provisions more favorable to the landowner than those in this
Agreement, Company and its assigns shall have the right to amend
this Agreement and City agrees to amend same to embrace the more
favorable terms of such agreement or renewal agreement.
X.
The parties agree that this Agreement complies with existing laws
pertaining to the subject and that all terms, considerations and
conditions set forth herein are lawful, reasonable, appropriate,
and not unduly restrictive of Company's business activities.
Without such agreement neither party hereto would enter into this
Agreement. In the event any one or more words, phrases, clauses,
sentences, paragraphs, sections, articles or other parts of this
Agreement or the application., thereof to any person, firm,
corporation or circumstances shall be held by any court of
competent jurisdiction to be invalid or unconstitutional for any
reason, then the application, invalidity or unconstitutionality of
such words, phrase, clause, sentence, paragraph, section, article
or other part of the Agreement shall be deemed to be independent
of and separable from the remainder of this Agreement and the
validity of the remaining parts of this Agreement shall not be
affected thereby.
XI.
Upon the commencement of the term of this Agreement, all other
previously existing industrial district agreements with respect to
said Land shall terminate.
XII.
Notices by a party to the other party hereto, shall be mailed or
delivered as follows:
To the City of La Porte: City Manager
City of La Porte
604 West Fairmont Parkway
La Porte, TX 77571
To Company: �/iLYP I� �iV,AI,Is�K I•a- l�ho�-7�/�S Z,
P Y�
(COMPANY)
Attention: Department
0 Lt �tP�L7�
Company shall promptly notify City of an �chhaange of ownn.ershzp of
Property, any assignment of this Agreement, and of any change of
billing address.
Company shall notify City annually, on or before June 1, of any
changes to the following information:
9
APP V %�
Knox W. Askins
City Attorney
City of La Porte
Plant Manager
Name: j" w l
Address: 2O A 2
a _
Phone: 993a -- L24 U4. to�3q
Fax: 1
Email: WA �� e -A -MA
Tax Agent/Billing Contact
Name:
Address:
Phone:
FaX :
Email:
ENTERED INTO effective the 1st day of January, 2008.
�* U� -"VA-fua-i-Avows I (-. p
( COMPANY
By : LL �C��Q-S (��
Name: Iq
Title:
Address.
A ST: CITY O O TE
4
By:
C ty Secretary U
L uis h. Riqyz
Ma r
By:
City Manager)-pkk.(Z'U-,r✓
P.O. Box 1218 CITY OF LA PORTE
La Porte, TX 77572-1218 604 West Fairmont Parkway
281.471.1886 La Porte, TX 77571
281.471.2047 fax
knoxaskinsecomcast.net
10
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STATE OF TEXAS §
COUNTY OF HARRIS §
This instrument was
.:r4+JtAAr, 2 0 $ 2 , by
ofY1b�1�1�J Ott
on b half of said entity.
STATE OF TEXAS §
COUNTY of HARRIs §
j
d ed before me on the 0day of
-ation, a co oration,
N tary Public, State of Texas
YVONNE GARRISON
i MY COMMISSION EXPIRES
October28, 20'13
This instrument was acknowledged bore me on the 15 'day of
Mayor of the
20�t, by ,3 , C ti y of La
Porte, a municipal. corporation, ton behalf of said entity.
YVONNE GARRISON
COMMISSION EXPIRES
October 28, 2013
a.x
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Windrose Land Services, Inc
3200 Witomst Dr., Suite 325
Houston, Texas 77042
Phone (713) 458-2281 Fax (713) 461-1159
Professional Development Consultants
Land Surveying, Platting, Project Management and GIS Services
DESCRIPTION OF
15.2740 ACRE OR 665,335 SQUARE FEET
A TRACT OR PARCEL CONTAINING 15.2740 ACRES OR 665,335 SQUARE FEET OF LAND, SITUATED IN
THE GEORGE B. MCKLNSTRY, ABSTRACT NO.47, HARRIS COUNTY, TEXAS, BEING OUT AND A PART
OF A THE RESIDUE OF A CALLED 117.281 ACRE TRACT OF LAND RECORDED IN THE NAME OF
FOUR CORNERS PIPELINE COMPANY UNDER HARRIS COUNTY CLERK'S FILE NUMBER (H.C.C.F. No.)
R276416, WITH SAID 15.2740 ACRE TRACT BEING MORE PARTICULARLY DESCRIBED BY METES
AND BOUNDS AS FOLLOWS WITH BEARINGS BEING BASED ON THE TEXAS STATE PLANE
COORDINATE SYSTEM, SOUTH CENTRAL. ZONE, NAD 83:
BEGINNING AT A CAPPED 5/8" IRON ROD STAMPED "WINDROSE LAND SERVICES" SET ON THE
WEST RIGHT-OF-WAY (R.O.W.) LINE OF BAY PARK ROAD (ONE HUNDRED FEET WIDE AND THE
EAST LINE OF SAID 117.281 ACRE TRACT) MARKING THE NORTHEAST CORNER OF A CALLED
14.3012 ACRE TRACT OF LAND RECORDED IN THE NAME OF DOLIMA PROPERTIES L L.P. UNDER
H.C.C.F. No. T798641 AND THE SOUTHEAST CORNER OF THE HEREIN DESCRIBED TRACT, FROM
WHICH A CAPPED 5/8" IRON ROD FOUND FOR REFERENCE BEARS, NORTH 18 DEGREES 47 MINUTES
34 SECONDS WEST, A DISTANCE OF 0.62 FEET;
THENCE, WITH THE NORTH LINE OF SAID 14.3012 ACRE TRACT, SOUTH 87 DEGREES 30 MINUTES 53
SECONDS WEST, A DISTANCE OF 1399.91 FEET TO A CAPPED 518" IRON ROD STAMPED "WINDROSE
LAND SERVICES" SET ON THE EAST LINE OF A CALLED 32.3303 ACRE TRACT OF LAND RECORDED
IN THE NAME OF GWB INVESTMENTS, LP UNDER H.C.C.F. No. Z288143 MARKING THE NORTHWEST
CORNER OF SAID 14.3012 ACRE TRACT AND THE SOUTHWEST CONRER OF THE HEREIN DESCRIBED
TRACT;
THENCE, ALONG THE EAST LINE OF SAID 32.3303 ACRE TRACT, NORTH 02 DEGREES 28 MINUTES 45
SECONDS WEST, A DISTANCE OF 467.32 FEET TO A CAPPED 5/8" IRON ROD STAMPED "RPLS 2068"
FOUND MARKING AN INTERIOR CORNER OF SAID 32.3303 ACRE TRACT AND THE NORTHWEST
CORNER OF THE HEREIN DESCRIBED TRACT;
THENCE, ALONG THE SOUTHERLY LINE OF SAID 32.3303 ACRE TRACT, NORTH 86 DEGREES 51
MINUTES 50 SECONDS EAST, A DISTANCE OF 1400.00 FEET TO A CAPPED 5/8" IRON ROD STAMPED
"WINDROSE LAND SERVICES" SET ON THE WEST R.O.W. LINE OF SAID BAY PARK ROAD AND THE
EAST LINE OF SAID 117.281 ACRE TRACT MARKING THE MOST EASTERLY SOUTHEAST CORNER OF
SAID 32.3303 ACRE TRACT AND THE NORTHEAST CORNER OF THE HEREIN DESCRIBED TRACT,
THENCE, ALONG THE COMMON LINE OF SAID BAY PARK ROAD AND SAID 117.281 ACRE TRACT,
SOUTH 02 DEGREES 28 MINUTES 46 SECONDS EAST, A DISTANCE OF 483.22 FEET TO THE PLACE OF
BEGINNING AND CONTAINING 15.2740 ACRES OR 665,335 SQUARE FEET OF LAND, AS SHOWN ON
THE EXHIBIT, 70B NO.48134WC, FILED IN THE OFFICES OF WINDROSE LAND SERVICES, INC.
J0fkROWSBI, RPLS #5 10l
September 21, 2011
70B #48134WC
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