----. 00'6 , .',' OF TEXAS X OF 􀁄􀁁􀁌􀁌􀁁􀁾􀀠the City of DaUas Is. the owner of a tract of h'(nd In the C1ty or. Addl&on. Dallas County, Texas, part dward Cook Survey, Abstract No. 326 and the E. Flke Abatract Mo. 418. being the same tract previously d as 19.01 aores by instrument recorded In Volume &e 629, Deed Records of Dallaa 􀁃􀁯􀁾􀁮􀁴􀁹􀀬􀀠􀁔􀁥􀁸􀁾􀁳􀀮􀀠and re particularly described by metes and bounds as (bearings referenced to instrument recorded In Volume ge 629. Deed Records of Dallas County, Texas): G.at a concrete monument sat tor the 3011theast corner ereln descrIbed tract. same being the intersection of h right-of-way of Belt Line Drive (100' ROW) 􀁾􀁮􀁤􀀠the line or a 100 foot wide St. Louis and southwest r18bt-or-way; orth 89 626 t 42W Weot, along said north rigbt-ol-way of ,e Drlve, 1126.56 feet to 8 concrete monument set. to a found 1/2 lncn iron rod; lorth 00°49'31111 East, 838.29 teet· to a 1 inch iron concrete found Cor the northwest corner of thc herein !d tract; lortn 􀀸􀀰􀁯􀁾􀀹􀀧􀀵􀀰􀀰􀂷􀀠East, 􀁾􀀵􀀴􀀮􀀳􀀲􀀠feet to a 1 inch iron concrete; routheast.erly generally wittl the aforesaid railroad 􀁾􀀭􀁷􀁡􀁹􀀮􀀠tne foHowing four (q) courses; It.h 69°58')0. East. 2)3.03 feet to a found metal fence It in concret.e; It.h 43°23 1 44. East., 258.85 teet to a 1 inch iron pipe concrete; , ltn 26°22'30· East, 30Q .94 feet to a 1 Inch lron pipe concrete; Jth 16.53'19111 East, ,.10,.56 feet to the POUlT Of BEGIN􀁾􀁇􀀠and 􀁾􀁯􀁮􀁴􀁡􀁬􀁮􀁬􀁮􀁧􀀠􀀱􀀹􀀮􀀰􀀱􀁾􀀠ac res. -it the City of Dallas("Owner-} does hereby adopt this plat ;,ing ,t.ll, hereinabove property as Bel4ivOOtl..ll>'Reservoirt an 8(kH'trl'on' 􀁲􀁯􀁷􀁮􀀧􀀺􀀱􀁾􀀪􀀧􀁁􀁤􀁤􀁬􀁬􀁊􀁯􀁮􀁴􀀠Texas, and, subject to the condlt.lons, restrlcld re3ervations stated hereinafter, owner dedicates to the Jse forever the streets and alleys shown theron. : easements shown on this plat are hereby reserved for the 􀁾􀀠as indlcated, including, but not limited to, the installat!on 􀁾􀁴􀁥􀁮􀁡􀁮􀁣􀁥􀀠of water, sanitary sewer, storm sewer, 􀁤􀁾􀁡􀁩􀁮􀁮􀁧􀁥􀀬􀀠􀁾􀀬􀀠telephone, gas and cable television. Owner shall have the a use these easements, provided however, that it does not. un_ bly interfere or lmpede with the proviSion of the services to Said utillty ease_ents are hereby being reserved by mutual use 􀁑􀁾􀁾􀁤􀁾􀁴􀁴􀁮􀁮􀀠of all public utilities using or desirlng to use the An express easement of lngress and 􀁾􀁧􀁲􀁥􀁳􀀳􀀠1S nereby 􀁥􀁸􀁰􀁲􀁥􀀳􀁾􀁬􀁊􀀠on. over and across all such easements for the benefit of the I" of services for which easements are granted. y dralnage and tloodway easement snown hereon Is nereby ed to the publlc's use forever, but Including the following· ts with regards to maintenance responsibllities. the existlng s or creeks, traversing the drai:lage and floodway easement wUl as an open channel, unless required to be enclosed by ce. at all times and shall be maintalned by the lndividual of the lot or 􀁬􀁯􀁴􀁳􀀻􀀬􀁾􀂷􀁴􀁢􀁡􀁴􀀠are traversed by or adjacent to the e and floodway easement. The City will not be responsible for ntenance and operation of of said 􀁣􀀬􀁾􀁾􀁥􀁫􀀠or creeks or for any damage ry of private property or person that results from the flow of long said creek, or for the contl"'ol of erosion. No obstruction natural flow of water run-off shall be permitted by construction type buIlding, fence 9r any other strtucture within the drainage odway easement. Provided, however, it is understood that In the t becomes necessary fOr the City to channelize or conslder g any type of drainage structure in order to improve the storm e, ,then in SUCh event, the City shall have the right, but not igatIon, to 􀁥􀁮􀁴􀁾􀁲􀀠upon the drainage and floodway easement at any r 􀁰􀁯􀁬􀁮􀁴􀁳􀁾􀀠with all rights of ingress and egress to investigate, erect, construct or malntain any drainage facltillty deemed ry by the City for draingae purposes. Each property 􀁯􀁷􀁮􀁾􀁲􀀠shall e natural dralnage cnannels and creeks traversing the drainage odway easement adjacent to hi,S property clean and tree of silt. growth, vegetation, weeds, rubbish, refuse, matter and atance vhich would result in unsanitary conditions or obstruct v ot vater, and the CIty snaIl have the right of ingress and for the. purpose of inspection and supervisIon and maintenance the pr"Operty owner to alleviate any undesIrable conditions ay occur. the natural 􀁤􀁲􀁡􀁬􀁮􀁡􀁾􀁥􀀠channels and creeks through the e and tloodvay eaaement. as In the case of all natural channels, Ject to storm water overflow and natural band erosion to an that cannot be definltely defIned. The CIty shall not be neld tor any daaasea or injuries of any nature resulting from the noe ot these natural pnenomena, nor resultlng from the fallure structure or atruoturea, wilhin the natural draInage Channels, owners hereby agree to indemnity and hold harmless the City· y such dallage,:, an,d Injuries. ",' -'.;" 􀀭􀀺􀀢􀀧􀁾􀀧􀀧􀀧􀁬􀀧􀀺􀀺􀀮􀀻􀀬􀀻􀀠":,,. 􀁾􀀢􀀬􀀺􀀺􀀻􀀮􀀮􀀾􀀬􀁾􀀢􀀢􀀢􀀠.•' ':'j \', " ",,)!" ',. .n 'f Addision, Texas, this the eL2.. day 􀁾􀁁􀁵􀁌􀀿􀀼􀀠 .. 􀀻􀁦􀀱􀁾􀁾􀀮􀀠􀁃􀀱􀁴􀀩􀀧􀀢􀀢􀁓􀀮􀁾􀀮􀁩􀀣􀁉􀀻􀀢􀁾􀁹􀀠. ," ;:::􀁥􀁾􀁾􀀠􀁾􀀧􀀮􀁜􀀮􀀧􀀠􀁍􀀮􀁉􀀺􀀬􀀬􀁾􀁾􀀺􀁾􀀧􀁾􀂷􀀮􀀼􀀺􀀢􀀠. {' 􀀺􀁾􀀬􀀼􀀬􀀺􀀬􀀺􀁜􀀠􀀬􀀿􀁾􀀬􀀮􀀮􀀠􀀮􀀮􀁾.. ' ..,",', ., :' . The maintenance, 01" 􀁾􀁡􀁶􀁩􀁮􀁧􀀠of the utility and fire lane easemftnts is the responsibility of t.he prop£l:rty owner. All publlc utilities shall at all times have the full rlght or ingress and eCress to and fro. and upon the sald utility easements for the purpose of constructing, reconstructing, inspecting, 􀁰􀁡􀁾􀁲􀁯􀁬􀁬􀁩􀁮􀁧􀀬􀀠maintaining and adding to or 􀁾􀁥􀁭􀁯􀁶􀁩􀁮􀁧􀀠all or parts of lts respective systeM without the necessity at any time of procuring t.he per·miasion of anyone.. Any publlc utilIty shall have the rlght of 􀁩􀁮􀁧􀁾􀁥􀁳􀁳􀀠an d egresa to private property for the purpose of readlng metes and any maintenance and servlce requlred or ordlnatl1y performed by the utl1ity. Buildinga, fences, trees, Shrubs or other lmprovements or growth may be constructed, reconstructed or placed npon, over or acrosa the utility easements as shown; 􀁰􀁲􀁯􀁶􀁩􀁾􀁥􀁤􀀮􀀠however, that owner shall at lts lts aole cost and expense be responsible under any and all clrcumstances for the maintenance and repair of such improvefillents 01" grovtn, and any publicutility shall have the right to remove an! keep removed all or parts or any buHdlngs. fences, trees, shrubs 0." her improvements or growth1} whlch In any way endanger or interfere wL h the construction, .alntenance or efflclency of its respect. i'e system or serv lee. Water main and sanitary sewer eaaemC::'lts shall also i.nclude additlonal area of working space for 􀁣􀁯􀁮􀁳􀀦􀁲􀁵􀁣􀁴􀁩􀁾􀁮􀀠and maintenance or the systems. Addltional easement area is also conveyed for lnstallatlon and maintenance of manholes, cleanoata, 􀁲􀁩􀁾􀁥􀀠hydrants, water servIce and sewer seryices from the main to curb or pavementline, and the 􀁤􀁥􀁾􀁣􀁲􀁬􀁰􀁴􀁩􀁯􀁮􀁳􀀠of such additional easeMents herein granted ahall be deter.ined by their locatlons 􀁾􀁾􀀠installed. Thls plat is approved, subject to all platting ordinances, rules, regulations and resolutions of the Town of Addison, Texas. City or Dall... FLVrf I 􀁾􀁏􀁾􀀢􀀢L • 􀂣􀁾􀁾􀀠:' )( STATE OF TEXAS )( COUNTr OF P.1.LAS BEFORE ME, the undersigned authorlty. a Notary Public, in and for said. County a,!d State on thjs dUiy personally appeared 􀁲􀀧􀁴􀀢􀁈􀁾􀀢􀀠􀀢􀁴􀁁􀁜􀁴􀁾Ow .􀁣􀀮􀁾􀀬􀀲􀀩􀁬􀁭􀀮􀀢􂂬􀁲􀁩􀀠' known to me to be the perso s wbose n s)is sUbscrl e to te foregoIng Instrument and ac'cnowledged to me that. he executed the same for the 􀁰􀁾􀁲􀁰􀁯􀁳􀁥􀀠and consideration therein expressed. GIVEN UNDER HI "AND AND SEAL OF OFFICE, thiS th. !H:J.. day of a"tIC'" , 1989.. Kotary Public In and COlI'l.$slon ExpLres lOJ SURVEYOR'S CERTIFICATE , I. 􀁾􀁡􀁵􀁬􀀠Huber.• 􀁒􀁥􀁾􀁩􀁳􀁴􀁥􀁲􀁥􀁤􀀠publi c SUrveyor for SURVCON, INC., do herebycer;..i.fJ t.hai. t.tds plat lola" 􀀻􀀺􀁵􀀺􀂷􀀧􀁥􀁾􀀺􀀺􀁛􀀬􀀧􀀼􀀲􀀧􀁤􀀺􀀠trl)1'I1 a'" at'i;o.;t! 􀁂􀁬􀁬􀁲􀁶􀁾􀁹􀀠􀁾􀁮􀀠the 􀁾􀁲􀁯􀁵􀁮􀁤􀀠and that all angle poInts and 􀁰􀁯􀁬􀁮􀁾􀁳􀀠of curve shall be 􀁰􀁲􀁾􀁰􀁥􀁲􀁬􀁹􀀠􀁭􀁡􀁲􀁾􀁾􀁤􀀠on the ground, and that 􀁴􀁨􀁬􀁾􀀠plat correctiY represents 􀁴􀁨􀁡􀁾􀁾􀁾􀁾􀁾􀀮de de under my supervi:don. /'\ 􀁊􀁾􀀺􀀧􀀻􀀧􀁾􀀺􀀢􀀧􀁾􀀧􀀺􀀭􀀾􀁾' ../􀁾􀀿􀀠'.;.1'1(/􀁾􀀠\.,'., Paul'-Huber Reglstered Public SurveyorTexas Regist.ration Number 1942 ..,';' )( STATE OF TEXAS )( COUNTY OF DALLAS BEFORE HE, the undersigned authority, a Notary Public, in and for sald County and State on thi3 day person'" lly appeared Paul Hotert, known to me to be the person whose na.e is subscrlbed to the foregoing Instrument and aCknowledged to me that he execu·.... ed the same for the purpose and consi1eratiQn therein expressed. ."Q 􀀻􀀮􀁾􀁾􀀠GI1EN UNDER HY HAND AND SEAL OF OFFICE, thIS the :2. --oay a. k!kAl-,1989. 􀁾􀁾 . , " '. -􀀬􀁾􀀭LAIIR.A fnAfl..n";". ,\) e _ ----4..􀁾􀀠Notary publla 1n and rQr DallaG County. Te.ae ____'*-COllUllission Explres 1-'-'1 "2.................. FINAL PLAT .., ., TEXAS ., Inc. F•••way 757.40 ,.,(:.. ': BELTWOOD RESERVOIR on Addition of Ihe Town 01 Addlsion E. COOK SURVEY A-:326 􀁾􀀭􀀭􀀭.........'-E. FIKE SURVEY A-478 r DALLAS COUNTYt: e 􀁬􀁴􀁩􀁭􀁾􀁄􀁬􀁳􀁏􀁎􀀬􀀠i"f' 'dllft JULY, 1989 C,·.' ,-': ".1􀀧􀀱􀀢􀀼􀀱􀀱􀀱􀁾􀀠􀀧􀁾􀁦􀀠;I! ftI' Iil!!l 􀀢􀁔􀁯􀁾􀀠or dOOtSbrJ Ri). 􀁂􀁾􀀠,<(;t{􀁁􀁄􀁯􀁉􀀵􀁢􀁾iW."6l)oI OIlNEB: 􀀬􀀬􀁾􀀬􀀬􀁾􀀠􀁾􀁾􀁾􀁅􀁙􀁏􀁒􀀧􀀠City of D.llas SurvC'.ont ·1500 HuUla . 5710 LBJ Dallas. Teus 75201 Suite 180 t iluS (214) Dallas, Tex.s (214) 458-2173 , 􀀬􀀧􀁾􀀧􀀠-􀀢􀀧􀀻􀁾􀀠.'., ':,-,:r'.,' 􀁾􀀺􀁬􀁩􀀠 i " r' 􀁾􀀧􀀠. ; , 􀁾􀁾􀀠,": Ult.J.:'1::,;,.",'':'.-:;, 􀁾􀀨􀀮􀁁􀁉􀀮􀀮􀁅􀀠,".: Ifk)' LOUIS & SOUT'MW£ST AAL ROAO 􀀧􀁗􀁾􀀧􀀧􀀧􀁾􀂻􀀧􀁟􀀧􀀧􀀧􀀧􀀧􀀧􀀧􀂷􀀧􀀬􀀠','-.' 1126.56' ORIVE ... ',-., 􀁶􀀧􀁾􀀠t I I t ! ,... " ,::',:' ,,'"qrr.. vv 􀀪􀁾􀁑􀀠..-t:'iPf I .6-",0 . ,'_ -",."%1>' 􀁾􀀧􀀠\ -< ,I-i:,+'?' po"" , , c.'c,;.o.J -th..􀁾􀀠Z"'OQI!'i t) 􀁾􀀭􀁴􀀠IolaQ:, « 􀁾􀁲􀁯􀁩􀁾....c-'" 􀁾􀁾􀁾􀀠u'" " 􀁾􀁾􀁾􀀠􀁾􀁕􀀠"0 "' il .,.. 􀀢􀁜􀁾􀁜Q\\ , -􀀮􀀬􀀮􀁾􀀧􀁜􀀠􀁾􀁴􀀮􀀻􀀠􀀬􀀬􀁾􀀻􀀢􀀧􀀾􀁟􀀠􀀭􀁾􀁾􀀮􀀠. 􀁾.•.M, Q « 0 a:: z 0 !!l Cl Cl « ,. & .;, ,; t , 1 , t r 􀁾􀀧􀁾􀀧􀁾􀀧􀁜􀀧􀀠􀁾􀀢 􀀠. 􀀮􀀬􀁾􀀢􀀠j: post in concrete; South 48°23'qq" East, 258.85 !eet to a inch in concrete; south 26°22'30· East. 􀀳􀀰􀁾􀀮􀀹􀀭􀀴􀀠feet to a inctl !r in concrete; South 16°53' 19* East, 410.56 feet to the POItIT HING and 􀁾􀁯􀁮􀁴􀁡􀁩􀁮􀁩􀁮􀁧􀀠􀀱􀀹􀀮􀀰􀀱􀁾􀀠acres. , That the City of Dallas("Owner") does hereby adc 􀁤􀁥􀁳􀀱􀁧􀁮􀁡􀁴􀁩􀁮􀁧􀀬􀁾􀁾􀁰􀀠hereinabove property a3 􀁂􀁥􀁬􀁢􀁷􀁾􀁤􀁾􀁥􀁳􀁅􀀠liO the 􀁾􀁔􀁯􀁷􀁮􀁾􀁾􀁾􀁤􀁔􀁳􀁯􀁮􀀬􀀠Texas f and, sub ject to the C(tipns and reservations stated hereinafter, owner dedj public use forever the streets and alleys shown there The easements shown On this plat are hereby rest purposes as indicated, including, but not limited tOI anti maintenance of water, sanitary sewer, storm sewer electrIc, telephone, gas and cable television. Owne! right to use these easements, provided however, that reasonably interfere or 􀁩􀁭􀁰􀁾􀁤􀁥􀀠with tne prov1s1on Of others. Said utility easements are hereby being res,and 􀁡􀁣􀂢􀁯􀁭􀁑􀁤􀁾􀁴􀁬􀁾􀁮􀀠of all publIc utilIties u8ing or de. 􀁳􀁡􀁭􀁥􀁾􀀠An express easement of tngress and p.gress 1S granted ont over and across all such easements for tJ provider of services for which easements are granted_ Any drainage and rloodway easement shown hereon dedicated to the public's use forever, but including covenents with regardS to maintenance responsibilitit channels or creeks traversing the drainage and rloodl remain as an open channell unless required to be ent ordinance, at all 􀁴􀁩􀁭􀁾􀁳􀁳􀀠and shall be maintained by tJ owners of the lot or lot::(>that aro traversed by or a( drainage and floodway easement. The City wiil not be the maintenance and operation of said c,"'!ek or 􀁣􀁲􀁥􀁥􀁫􀁾􀀠or injury of private property or 􀁰􀁥􀁲􀁾􀁯􀁮􀀠that results water along said creek, or for the contpol of erosiOi to the natural flow of water 􀁲􀁵􀁮􀁾􀁯􀁦􀁴􀀠shall be permit! of any type buildIng, fence 9r any other strtucture I and floodway easement. ProvIded, however, it is und. event it beco.es necessary for the City to channeliZI erecting any type of drainage structure in order to drainage, then in such event, the CIty shall have tnt the obligatIon. to enter upon the drainage and rloodl point·or 􀁰􀁯􀁬􀁮􀁴􀁾􀀬􀀠with 􀁡􀁾􀁬􀀠rights of Ingress and egre: survey, erect, construct or maintain any drainage 􀁦􀁡􀁾􀀠necessary by the City for draingae purposes. Each plkeep the natural drainage channels and creeks traver; and floodway easement adjacent to his property clean debris, silt, growth, vegetatIon, weeds, rubbish, re any substance which would result in unsanitary condi the :low or water. and the City shall have the rIght egress for the" purpose of inspection and supervisionwork by the property owner to allevIate any undesira' which ..y occur. The natural drainage channels and drainage and tloodway easement. as in the ease of al are subject to stor. water overflow and natural band extent that cannot be derinitely defined. The Cityliable tor any daaaces or injuries or any nature res ocourrenoe or these natural phenomena, nor resultIng of any struoture or struotures. wl'hln the natural d and the owners hereby agree to indemnify and hold ha from any such dalZlage!l an.d injuries. -.'. . '·.·w"r' 􀁾􀁲􀀬􀀺􀁲􀀠􀀧􀁾􀀬.•_'-;' .-'f(;.Y.::.' '">l .' ,., 􀀢􀁾􀀮􀀧􀀮􀀠"CERTIFICATE'.!!!: APPROVAL Tow" )f Addloion, Taxa., this the eZz... day" ,Tltlj, Plat J!P1U'Sl1'1Od. by the c' " of Jj9utzr ';',1989. ' ',.::.' "., ...., 􀀮􀁩􀀭􀁾􀀿􀁾􀁴􀁾􀁓􀀺􀁾􀁪􀀻􀁾􀀺􀀺􀁾􀁊􀀻..... 􀁾􀀬􀀨􀀬􀀨􀁤􀂣􀀧􀀠":,CJ:1:f.+N ///' ! 􀀢􀀬􀀮􀁴􀁾􀀧􀀠f$' f$' .0 _, 'VC; '-' )( STATE OF TEXAS l( COUNTY OF 􀁄􀁁􀁌􀁌􀁁􀁾􀀠WHEREAS the City of Dallas Is, the owner ot a tract ot situated In the CIty of 􀁁􀁤􀁤􀁬􀀤􀁯􀁮􀁾􀀠Dallas County, Texas of the Edward _Cook Survey. Abstract Ho. 326 and the F. Survey, Ab:ttract Ho. 1478, beln.g the S8C11e 􀁴􀁬􀁾􀁡􀁣􀁴􀀠previo described as 19.01 acres by instrument recorded 1n Yo 49_2, 􀁾􀁡􀁴􀁥􀀠629, Deed Records of Dallas Covnty, Texas. being more particularly described by metes and bound$ folIOW$ (bearIngs referenced to instruRient recorded 4942, Page 629. Deed Records of Dallas County. TeKas) BEGINNING. at a concrete Monument sct for the sOl.ltheaa ot the herein described tract. saae being the lnterae the nOrth right_of.way of Belt Line Drive (100' ROW) westerly line of a 100 foot wide St. Louis and Southw Railroad right_or.way; THENCE north 89-26'Q2-West, along said north right·o Belt Line Drive. 1126.56 feet to a concrete monuaent replace a found 1/2 inch iron rod; THENCE North 00°49'37" East, 838.29 feet' to a 1 inch pIpe in in concrete found for the northwest corner of th described tract; 􀁔􀁈􀁾􀁎􀁃􀁅􀀠North 80Q_9'50 N East, 􀁾􀀵􀀴􀀮􀀳􀀲􀀠feet to a 1 inch pipe in concrete; THEHCE southeasterly ,enerally with the aforesaid raj right-ot-way, the fOllowing four 􀀨􀁾􀀩􀀠courses, Snuth 69°58 t 30N East, 233.03 feet to a found met !r J ) .. , 􀁾􀀮it .'L , 􀁾􀀮􀀠1,, .,:;:tD r o o A » 't" ",. ',.," !I ! i.. I 􀁾􀀠! 􀁾􀀠􀁾,r r. {.' -----..---􀁾􀀭 TOWN OF ADDISON, TEXAS RESOLUTION NO. R,____ A RESOLUTON OF THE CITY COUNCIL OF THE TOWN OF ADDISON, TEXAS, AUTHORIZING THE CITY MANAGER TO PURCHASE AN EASEMENT IN A 0.0256 ACRE TRACT OF LAND FOR PERMANENT RIGHT-OF-WAY AND A TEMPORARY EASEMENT IN A 0.0267 ACRE TRACT OF LAND FOR CONSTRUCTION PURPOSES (BOTH TRACTS WCATED GENERALLY AT 4799 BELT LINE ROAD). WHEREAS, the proposed Arapaho Road Extension Project is currently underway, which includes right-of-way acquisitions; and WHEREAS, a tract of land approximately 0.0256 acres in size is required for permanent right-of-way adjacent to the proposed extension ofArapaho Road; and WHEREAS, a tract of land approximately 0.0267 acres in size is required for a temporary construction easement in connection with the construction ofsaid permanent right-of-way, and WHEREAS, the owner ofthe required tracts, has agreed to grant the necessary easements to the Town ofAddison for $13,018.00; Now, Therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE TOWN OF ADDISON, TEXAS: Section 1. That the City Council has determined that $13,018.00 is reasonable compensation for the easements to be acquired and all damages to the property remaining, and does hereby authorize the City Manager to acquire a permanent right-of-way easement in, over and through a 0.0256 acre tract ofland and a temporary construction easement in, over and through a 0.0267 acre tract ofland (both tracts located generally at 4799 Belt Line Road). Section 2. That the City Finance Director be and is hereby authorized to draw a check in favor of the City ofDallas, or the current owner ofrecord, in the amount of$13,018.00. Section 3. That this Resolution shall take effect immediately from and after its passage. PASSED AND APPROVED by the City Council of the Town of Addison this 12th day of November 2002. Mayor ATTEST: APROVED AS TO FORM: Carmen Moran, City Secretary Ken C. Dippel, City Attorney Steve Chutchian To: oalamed@ci.dallas.tx.us Subject: Beltwood Reservoir-Arapaho Rd., Phase III-Parcel 4 Easement Hi Orlando -On November 12th. (last night), our Council approved a resolution authorizing the Town to make payment to the City of Dallas, in the amount of $13,018.00, for the pennanent and temporary construction easements at the Bellwood Reservoir. I checked with our Finance Dept. this moming and leamed that we mailed the check to the City of Dallas last Friday (November 8th.). You probably have already received it. We are in the process of getting our Mayor to sign the resolution today, and will get it to you in the next couple of days. As we discussed, the apparent next course of action involves the placement of a resolution on your Council agenda for review and approval. It is respectfully requested that the City of Dallas proceed with this endeavor. If you need any additional infonnation, please let me know. Your consideration and attention is greatly appreCiated. Thanks. Steve Chutchian, P.E. Assistant City Engineer 1 CITY OF DALLAS February 14, 2003 Steven Z. Chutchian Public Works Department Town of Addison P.O. Box 9010 Addison, TX 75001-9010 Re: Log #25877 -Street Easement & Temporary Working Space Easement Beltwood Reservoir Arapaho Road Phase III -Parcel 4 Dear Mr. Chutchian: Enclosed, please find copies of the approved resolution and executed and recorded easements forthe above referenced project. This concludes the processing ofthe request. Please let me know if I can be of any assistance in the future. Si&\i sm 􀁾􀁡􀁮􀁤􀁯A?ameda "Chief Real Estate Specialist encls. PROPERTY MANAGEMENT 320 E.JEFFERSON BLVO. AOOM203 DALLAS. TEXAS 75203 TELEPHONE 214/948-4100 FAX 214194S-4083OR 􀁾􀀱􀀴􀁊􀀹􀀴􀀸􀂷􀀴􀀱􀀱􀀸􀀠 COUNCIL CHAMBER 023505 December 11. 2002 WHEREAS, the City of Dallas ("City") is the owner of a 19 acre tract of land in the Town of Addison which is currently a part of the Beltwood Reservoir site, located near the intersection of Beltline Road and Addison Road; and WHEREAS, the Town of Addison plans to extend Arapaho Road westward from Addison Road to Marsh Lane; and WHEREAS, the Town of Addison has requested that the City convey to it a street easement containing approximately 1,114 square feet of land and a temporary working space easement containing approximately 1,163 square feet of land which are part of the Bellwood Reservoir site for the extension and construction of Arapaho Road; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DALLAS: SECTION 1. That for and in consideration of the sum of $12,918 and other good and valuable consideration, the City Manager is authorized to execute a street easement containing approximately 1,114 square feet of land and a temporary working space easement containing approximately 1.163 square feet of land across City of Dallas owned land, located in Lot 1, Block A of the Beltwood Reservoir Addition in the Town of Addison, Dallas County. Texas to the Town of Addison, to be attested by the City Secretary upon approval as to form by the City Attorney. SECTION 2. That the street easement and temporary working space easement proceeds shall be deposited into the General Fund 0001, Agency DEV. Bal Sheet 0519 and Development Services shall be reimbursed for the cost of obtaining an appraisal and other administrative costs incurred. The reimbursement proceeds shall be deposited in Fund 0001, Agency DEV, Org 1180, Object 5011. Any remaining proceeds shall be transferred to the General Capital Reserve Fund 0625, Agency BMS, Org 8888, Revenue Source 8118. SECTION 3. That this resolution shall take effect immediately from and after its passage in accordance with the provisions of the Charter of the 􀁃􀁾of Dallas, and it is accordingly so resolved. PPRQVED BY . CITY CITY COUNCIL APPROVED AS TO FORM: MADEL INE B. JOHNSON, CiN Attorney DEC 11 2002 􀁾􀀹􀀧􀀱􀀠 City Sp.crelary 􀁁􀁐􀁐􀁒􀁏􀁖􀁅􀁾􀀦􀁲􀀠/) [ 􀁾􀀠CITY MANAGER 023505 L ARAPAHO ROAD « 10 o 0::: BELTWOOD Z o (j)RESERVOIR o oBLOCK A « BELT LINE ROAD STREET EASEMENT 􀁾TEMPORARY WORKING SPACE EASEMENT 􀀰􀀲􀀳􀁾􀀰􀀵􀀠 [MAPSCO 14C] DATE SUBMITTED: November 5, 2002 FOR COUNCil.. MEETING: November 12, 2002 Council Agenda Item SUMMARY: This item is to request Council approval of a resolution authorizing the City Manager to accept the counter-offer from the City ofDallas Department ofDevelopment Services, in the amount of$13,018,00, for the acquisition of 1,114 square feet ofpermanent street easement and 1,163 square feet oftemporary construction easement FINANCIAL IMPACT: Budgeted Amount: N/A Appraised Value: $13,018,00 Source ofFunds: Funds are available from Year 2002 General Obligation Bond Program, Project No. 83300. BACKGROUND: The right-of-way/easement acquisition process is currently underway on the proposed Arapaho Road, Phase III project. Approximately 1,114 square feet ofpermanent street easement (see attached Parcel 4 map) and 1,163 square feet oftemporary construction easement (see attached Parcel 4-TE map) adjacent to the proposed extension of Arapaho Road is required as part ofthe proposed roadway improvements, This parcel is a portion of land owned by Dallas Water Utilities and located at 4799 Belt Line Road. The City ofDallas Department ofDevelopment Services was previously contacted regarding the acquisition ofthe necessary permanent and temporary easements for this project. The Town's Public Works Department received a response, dated September 12, 2002, and was informed that their staff performed an internal appraisal ofthe value ofthe property and the resulting value ofthe easements was determined to be $14,764,00. On October 5, 2002, an appraisal was perfurmed for the easements by the firm ofEvaluation Associates (see attached Sununary ofSalient Facts and Conclusions), and subsequently submitted to the City ofDallas for consideration. The permanent street easement was valued at $10,026.00, and a value of$733.00 was placed on the temporary construction easement, After discussion with the City ofDallas staff, they agreed to lower their appraisal values, On October 28, 2002, staff received a firm counter offer response from the City ofDallas, in the total amount of$13,018.00 (see attached letter). This total represents an increase of$2,159.00 above the Town's assessed value. However, it also represents a reduction of$1846.00 from the original City ofDallas value placed on the easements, RECOMMENDATION: It is recommended that Council approve a resolution that authorizes the City Manager to accept the counter-offer from the City ofDallas Department ofDevelopment Services, in the amount of$13,OI 8,00, for the acquisition of 1,114 square teet ofpermanent street easement and 1,163 square fuet oftemporary construction easement. \fO\.-􀁾􀀶􀀬􀀠pO. 􀁾􀀱􀀹􀀠􀁾􀁉􀁬􀁰􀀭􀀤􀁾􀀠PRQPOSEO 􀁴􀀮􀁾􀁰􀁴􀀮􀁜􀀭􀁉􀁑􀀠ROfD o ADDISON RESTAURAN n 􀁾􀀠􀁾􀀠􀁾􀀠􀁾􀀠􀁾􀀠􀁦􀁯􀀬􀁾􀁦􀁯􀀬􀀬􀀬􀁾􀁑􀀠􀁾􀁑􀁦􀁄􀀨􀁾􀁰􀀮􀁩􀁬􀀱􀀮􀁾􀀠\>..0.'11·) pjlGllSi S, 􀀱􀀹􀀵􀀻􀁜􀀱􀁾􀀹 \fO\.-494'2. 1'0. v 0.\>..o·c.1• CAllED 19.01 AC. CITY Of DAllAS AUGUST 5, 1958 VOL 4942, PG. 629 LOT 1 D.R.D.C.T. BLOCK A BELlWOOD RESERVOIR AUGUST 2. 1989 VOL. 90012, PO. 3386 D.R.D.C.T. -..-..􀀭􀀮􀁾􀁾􀀭􀀭􀀭EXHIBIT "B"----=::::::::::::...-----:::::------.􀁾􀀭􀀭􀀭􀀭􀀭􀀮􀁾􀁾􀀠􀀭􀀭􀀭􀀭􀁾􀀭􀀭􀀭.--------􀀭􀀭􀀭􀀽􀀭􀀭􀀺􀀺􀀺􀀺􀀺􀀺􀀭􀀭􀁾􀀠􀁾􀀭􀀭􀀭􀀮􀀮􀀮􀀭. 􀁾􀀬􀁾􀀠􀁦􀁯􀀬􀁾􀁴􀀭􀁓􀀧fo,\-IQ 􀁾􀁑􀁦􀁯􀀮􀁏􀀠(sri II.O.W,) IAAACI-I 9, 1968 O.II,O.C.i • HERITAGE INN NUMBER XIII, PARK LIMITED PARTNERSHIP CAllED 4.1525 ACRES JANUARY 24, 1997 VOL 9701 B. PO. 00073 D.R.D.C.T. MARCH 9. 19B8 VOL 88006, PC. 4219 D.R.D.C.T. NOTES: 􀀾􀁨􀁾􀀻􀁦􀀢􀁦􀁬􀀠All EASEt.4ENTS SHOWN ARE TAKEN FROM THE PLATS INDICATED HEREON. THE SURVEYOR DID NOT ABSTRACT THE SUBJECT PROPERTY SO All EASEMENTS t.4AY NOT BE SHOWN. All BEARINGS ARE REFERENCED TO THE NORTH RIGHT Of WAY LINE Of CENTURION WAY. CALlED S 89'51'55" E. ACCO!\DlNG TO THE FINAL PLAT Of LOT 3. SURVEYOR ADDlllON, RECDRDlED IN VOL 77173, PAGE 135. D.R.D.C. T. A LEGAL DEScRlPnON Of EVEN SURVEY DATE HEREWITN ACCDt.4PANIES THIS PLAT. --UNE TABLE UNE BEARING ""'-£. 0.0256 ACRE (1,114 SQ. FT.) TRACT OF LAND IN THE EDWARD COOK SURVEY ABSTRACT NO. .326 TOWN OF ADDISON DALLAS COUNTY, 1£ XAS • DENOTES A FOUND POlNT AS INDICATED • DENOTES A 5/8" IRON ROO SET UNLESS 50 0 25 50 100 OTHERWISE NOTED 􀁾􀀭􀁷􀀠,. I ---PROPOSED RiGHT Of WAY LINE 􀁾GRAPHIC SCALE 1 INCH = 50 FT. CALL£O N 80'11'36" E S80·.9'SO"\I! 10.:57'L1 S 66"22'04" WL2 L3 N 00'12'19" E SOO'49'37"W 􀁭􀀺􀁬􀁑􀀩􀁾&1lIllQ) COOl]( 􀀤􀁾􀁉􀁬􀁉􀁬􀁗􀁾􀀧􀁜􀁦􀀠􀀦􀁣􀀤􀁾􀁜􀁜􀁩􀁊􀀠PARCEL 4A PLAT OF A 􀁾􀀠.,.. tl 􀁯􀁄􀀮􀀺􀁦􀀮􀀻􀁊􀁾􀀠" It 􀁾􀀬􀀠s .: ROp.!).o/>l'lV"R'" .,.. o 􀀯􀁉􀁓􀁉􀀮􀁾,,'riO RO{>.D (60' 1".0.'/1.)"WCH 9, 1988 'Irft-􀁥􀁥􀁯􀀶􀁾􀀬􀀠?G. 4219 . D.R,O.O.1· QlI ",11 !'IE'iI /ISI."P ,,'riO RO/>.\l ADDIS ON RES TAURAN PARK HERITAGE INN NUMBER XIII. z LOT t BLOC!( A .BELTI'lOOO RESERVOIR AUGUS T 2, 1989 VOL 90012, PG. 3386 O.R,O,C,T, l.J!. R 􀁏􀀮􀁾􀂷􀀩􀁬􀁾􀁐􀂫􀁜􀁾􀀡􀁬􀁩􀀠? ',989 􀁾􀁵􀁇􀁉􀁊􀁓􀀠'?G. 􀁾􀁾􀀶􀀠900,2, i'1(1;... O.R.O.C,' CALlED 19,01 AC. CITY OF DALLAS AUGUS T '5, 1958 VOl. 4942, PG. 629 D.R.D.C.T. MARCH 9, 1988 VOL. 88066, PG. 4219 UMITED PARTNERSHIP CALLED 4.1525 ACRES JANUARY 24, 1997 VOl.. 97018. PO. 00073 fND, 1ff IRON ROO UNE TABLE B€ARING I CAl..1.£OLINE Li L2 L3 L4 L5 CURVE Cl C2 DELTA 4'03'26" 4'13'50" CURVE TABLE RADIUS ILENGTH 1177.92' 83.41' 1187.92' 87.71' CHORO N 68'23'47" E -83.39' S 68'28'59" W 87,69' Ii!I1llW􀁾􀀱􀁉􀁒􀀱􀀱􀁬􀁬􀀠􀁥􀁲􀁯􀁲􀁯􀁾􀀠􀁾􀁑􀁊􀁊􀁉􀁬􀁜􀀡􀁗􀁉􀁬􀁩􀀡􀀧􀁜􀀱􀀠􀁾􀁾􀁾􀁾􀁀􀀠S (:XY12'19" W N 66'22'04" E S 23'37'56" E S 66'22'04" W N 00"12'19" E SOO"49'Y". S00"S00"49'3rw CALLEDOIST 21.00' 30,71' 10.00' 30.71" 10,62' ROADARAPAHOO,R.O.C,T.D.R.D,C.T. TEMPORARY CONSTRUCTION EASEMENT PARCEL 4-TE A PLAT OF A NOTES, 0.0267 ACRE (1.163 SQ.• FT.) , . TRACT OF LANDALL EASEMENTS SHOWN ARE TAKEN FROM THE PLATS INDICATED IN ll1E EDWARD COOK SURVEYHEREON. THE SURVEYOR 010 NOT ABSTRACT THE SUBJECT PROPERTY SO ALL EASEMENTIl MAY NOT BE SHOWN. ASS TRACT NO. 326 TOWN OF ADDISON ALL BEARINGS ARE REFERENCED TO THE NORTH RIGHT OF 'IIAY DALLAS COUNTY, TE XAS UNEOF CENTIJRION WAY, CALLED 5 89'51'55" E. ACCORDING TO , DENOTES A FOUND POINT AS INDICATEO THE FlNAL PLAT OF LOT 3. ,SURVEYOR ADDITION. ADDISON 'IIEST (CONlROLING MONUMENTS) 50 0 25 50 100INDUSTRIAL PARK, RECORDED IN VOL, 77173. PAGE 135, • DENOTES A 5/8:' IRON ROO SET UNLESSD.R,O.C.T. 􀁾􀀮􀀮􀀮􀀬􀁪􀀭􀁟iiiiiiiiiiiiiiiiiiiiiiiiiiiil􀁟􀀭􀁟􀁾􀁟OTHE R'IIISE NOTE 0 ---NE'II RIGHT OF WAY LINEA LEGAL DESCRIPTION OF EVEN SURVEY DATE HEREWITH GRAPHIC SCALE ACCOMPANIES THIS PLAT. PAGE 3 OF 3 1 INCH = 50 FT. ] EVALUATION ASSOCIATES 0-RIGHT OF' WAY LAND RIGHTS ANALYSIS' APPRAISAL 􀁾􀀠ACQUIsmON • SOLUTIONS SUMMARY OF SALIENT FACTS AND CONCLUSIONS o ARAPAHO ROAD PROJECT Property ,Owner: City of Dallas Water Utilities I] Parcel No.4 Valuation Conclusion: 11 Whole Property (Land Only) 19.01 Acres @$9.00fSF $7,500,000 Proposed Acquisition 1,114 SF @$9.00fSF $ 10,026 Remainder Before Acquisition $7,489,974LJ Remainder After Acquisition $7,489,974 Loss in Value ofRetnainder After $ -0I] Determination ofCompensation: Permanent Right ofWay $ 10,0261) Compensation for Improvements (None; road to be repaired and realigned by Town ofAddison) $ -0Landscaping (None -Replacement) $ -0I] Temporary Construction Easement $ 733 Total Compensation $ 10,85911 Date ofAppraisal: October 5, 2002 11 Location: 4799 Belt Line Road, Town ofAddison, Texas " I] 11 Legal Description: Called 19.01 Acres City of Dallas, Town of Addison, Dallas County, Texas Land Size: Whole Property (per DCAD records) 19.01 AcresI] Road Right ofway Area . 1,114 1,114 SF Temporary Construction Easement 1,163 SF II Zoning: I -1 (Industrial) with SU -1 Special Use Permit fI Highest and Best Use: As ifVacant BEFORE: Commercial use As ifVacant AFTER: Commercial useI) I] 11615 Forest Central Drive • Suite 205 • Dallas, Texas 75243-3917 • (214) 553-1414 I] 􀁾􀁾􀁾􀁾􀁾􀁾􀁾􀀭􀀭􀀭􀁾􀁻􀀮􀀬􀀠" STREET EASEMENT THE STATE OF TEXAS § § KNOW ALL PERSONS BY THESE 􀁐􀁒􀁅􀁓􀁾􀁉􀁓􀀴􀀲􀁡􀁥􀀮􀀠:1. COUNTY OF DALLAS § $15.0001/07/03 3047915 Deed That the City of Dallas (hereinafter called "Grantor" whether one or more natural persons or legal entities) of the County of Dallas, State of Texas, for and in consideration of the sum of ELEVEN THOUSAND SIX HUNDRED NINETY-SEVEN AND N0l100 ($11,697.00) DOLLARS to the undersigned in hand paid by the Town of Addison, 16801 Westgrove Drive, Addison, Texas 75001, a Texas municipal corporation (hereinafter called "Grantee"), the receipt of which is hereby acknowledged and confessed, and the further benefits to be derived by the remaining property as a result of projected public improvements, has granted, sold and conveyed and does hereby grant, sell and convey unto Grantee, its successors and assigns, an easement for the passage of vehicular and pedestrian traffic, together with the customary uses attendant thereto, including drainage and utilities, over, under, through, across and along all that certain lot, tract or parcel of land described in Exhibit "A", attached hereto and made a part hereof by reference for all purposes. The Grantee is acquiring this property for the purpose of erecting thereon a public trafficway for the passage of vehicular and pedestrian traffic, including the right to make the improvements on such grade and according to such plans and specifications as will, in its opinion, best serve the public purpose. The payment of the purchase price for the property herein conveyed shall be consIdered compensation for same and for any diminution in value that may result to Grantor's remaining property by virtue of project proximity thereto, grade alignment, utility installation, or the alteration of drainage patterns and facilities. SPECIAL PROVISIONS: NONE TO HAVE AND TO HOLD the above described easement, together with all and singular the rights and appurtenances thereto in anywise belonging unto Town of Addison, its successors and assigns forever, and Grantor binds Grantor and Grantor's heirs, executors, administrators or successors, to Warrant and Forever Defend all and singular the said easement unto the Town of Addison, its successors and assigns, against every person whomsoever lawfully claiming, or to claim the same or any part thereof. . EXECUTED this ;Cr{-k_ day of L 'J aCu. L,,-tA... ,2002. CITY OF DALLAS TEOD RO J. BENAVIDES, City Manager BY: 􀁾􀁾􀁾􀀭􀀭􀁾􀁾􀀭􀁾􀀮􀁾􀁾􀀭􀀭􀁾􀀽􀀭􀁾􀁾APPROVED AS TO FORM: Madeleine B. Johnson, City AtloJney STATE OF TEXAS § COUNTY OF DALLAS § Tbis instrument was acknowledged before me on {U {! £ U. {l/A /0 It.C􀀨􀁾􀀠by .I/AA/,j EvAN) , Assistant City Manager of the City of Dallas, a Texas municipal corporation, on behalf of the City of Dallas. ....---,'\; v' II'-duJluLilLLi L _ut{( I(/,_,_J........ __ .:..:;:..... , 􀀮􀁾􀀠...•, Notary Public, State of Texas ! /􀀿􀁲􀁊􀁩􀀢􀀢􀀢􀀭􀀧􀁾􀁦􀁜􀀭Stephanie R. C<.·(· . 􀁑􀁾􀀪􀁩􀀧􀁾􀀠􀀮􀀩􀀪􀁾􀀠􀁎􀁏􀁬􀁡􀁲􀁹􀁐􀁵􀁢􀁬􀁩􀁣􀀮􀁓􀁬􀁡􀁴􀀸􀁯􀁦􀁔􀁥􀁾􀁴􀁊􀀧.. \. 􀁾􀁜􀁜􀀠.i l My Commission EXfJir.?!: 􀁾􀀠\ .."",."..... ;"" 08/09/200": '" 􀀺􀁾􀀬􀀺􀁾􀀮􀁾􀀮􀁾􀀮􀁾􀀬􀀻􀁾� �􀀺􀀠.'; After recording return to: City of Dallas Property Management 320 East Jefferson Boulevard, Room 203 Dallas, Texas 75203 aWl: 􀁑􀁲􀁬􀁡􀀧􀁁􀁤􀁾􀀠8lafljl.eda 􀀮􀀬􀁾􀀠􀁾􀀢􀁾􀀬􀀬􀀠.', .....􀁾􀀧􀁜􀀬􀀬􀁾􀀮􀀮􀀠-' i. no.I) (" G\lS1 2, G 1>""" OTHERWISE NOTED />.R/>'? f>.l'\0 ) AU 􀀹􀀰􀀰􀁾2, 6.1: NE W RIGHT OF WAY UNE (6a R.O.'jf· as "a\.· 0.11..0 • ARCI-I 9. 19 4219􀁾􀀮􀁜􀁁􀀠a8066• 􀁐􀁾􀀮􀀠FND, 5/S' IRON ROD"V>-' V>-' O,R,O.C,' \.1 . " . P.O.S., 􀁾􀁾􀁗􀁾􀁾􀁾􀀠􀂫􀀺􀀺􀀺􀁀􀁀􀁾􀀠􀁾􀁑􀁪􀁊􀁾􀁗􀁾􀁙􀀠_ 􀀭􀀭􀀺􀀭􀀺􀀻􀀺􀁾􀁾􀀻􀀻􀀬􀀻􀀻􀁴􀀻􀀭􀀭􀀭􀁾 􀁩􀀠 􀁾􀁯􀁾􀁾􀁀􀀠_ 110 ROft-1)""E.'fi />.Rf'oP />\ LOT 1 1'1 BLOCK A (, 􀁾BELTWOOD RESERVOIR CALLED 19.01 AC.(;) "B"JJ AUGUS T 2, 1 989 CITY OF DALLAS 􀁾􀀠VOL. 900 12, PG, 3386 AUGUST 5, 1958 In'-, 􀀬􀀯􀀺􀀻􀁾􀀺􀀻􀀻􀀾􀀭􀀭􀀭 ... .....ROADWAY EASMENT'. , PARCEL 4 r. A PLAT OF A NOTES: 􀁾􀀮􀁟􀀠 0.0256 ACRE (1.114 SQ. FT.). #; 01= 􀁾􀀠 TRACT OF LANDAUL EASEMENTS SHOWN ARE TAKEN FROM THE PLATS INDICATED' HEREON. THE SURVEYOR DID NOT ABSTRACT THE SUBJECT Il:'<':,.􀀮􀀱􀀻􀀺􀁓􀀻􀁔􀁩􀁩􀁾􀁻􀁴􀁪􀁾􀀠IN THE EDWARD COOK SURVEY PROPERTY SO AUL EASEMENTS MAY NOT BE SHOWN. 'u. '."" '''c",' '0' \ .. 0t\ ABSTRACT NO. 326 .._ ;;;:, <" >,.. 1,'\Ii' .:.; .. ,-.""....:. 􀀬􀀺􀁾􀀬􀀠 TOWN OF ADDISON AUL BEARINGS ARE REFERENCED TO THE NORTH RIGHT OF WAY 􀁾􀀠􀀺􀀢􀀺􀀺􀁩􀁴􀀡􀁾􀀻􀁽􀀧􀀬􀁾􀁜􀁾􀁾􀀬􀁴􀀡 􀁾􀁊􀁾} DALLAS COUNTY, TEXASUNE OF CENlURiON WAY, CALLED S 89'51'55" E. ACCORDING TO THE FlNAL PLAT OF LOT 3, SURVEYOR ADDlllON. ADDISON WEST INDUSTRIAL PARK, RECORDED IN VOL. 77173, PAGE 135, 􀁾􀀺􀀺􀀬􀁻􀀹􀀬􀀾􀁾􀀺􀀺􀀧􀁾􀁉􀁊􀁾􀁾􀀨􀁾􀁾􀀢􀀠50 0 25 50 100 D.R,D.C.T. 􀁌􀁌􀀧􀂧􀁫􀁾􀁴􀁲􀀮􀁬􀀺􀁴􀀱􀁤􀁾􀀠1-----' " I A LEGAL DESCRIPllON OF EVEN SURVEY DATE HEREWITH t' 􀀿􀁔􀁾􀀺􀁦􀁯􀀮􀀭􀀧􀀻􀀮� �􀀺􀀧􀀶􀀠2... GRAPHIC SCALE ACCOMPANIES THIS PLAT. PAGE 3 OF 3 1 INCH = 50 FT. 91 SSD 􀁾􀁏􀁏􀂣􀁄􀁡􀁬􀀠/"""'1' '-0I"'" f"-1-.""20a3 JM1-7 PH 3: 22 􀁾􀀬􀀠>, -'d" .' COUN I Y CLl:.KI'IOt"l'" C""ury:t\L. , ......... '\"\Jr. ',' R8'URN TO ti3 CITY OF DALLAS PROPERTY MANAGEMENT 320 E, Jefferson Blvd, _Rm, 203Dallas. TX 75203-2632 EXHIBIT A Parcel 4-TE field Note Description Arapaho Road Temporary Construction Easement Town of Addison Dallas County, Texas BEING a description of a 0.0267 acre (1,163 square foot) tract of land situated in the Edward Cook Survey, Abstract Number 326, Town of Addison, Dallas County, Texas, and being a portion of a called 19.01 acre tract of land conveyed to the City of Dallas as evidenced by deed dated August 5, 1958 and recorded in VG1ume 4942, Page 629 of the Deed Records of Dallas County, Texas, also being a portion of Lot 1, Block A of Bel􀁴􀁾􀁬􀁯􀁯􀁤􀀠Reserv:lir, an addition to the Town of Addison as evidenced by plat dated August 2, 1989 and recorded in Volume 90012, Page 3386 of said Deed Records, said 0.0267 acre tract of land being more particularly 􀁾􀁥􀁳􀁣􀁲􀁩􀁢􀁥􀁤􀀠by metes and bounds as follows; COMMENCING at a S/8 inch iron rod found for th',; c()mmo' , N::;r1',:Jw3 eviden;",d by the plat of Addison Hestaurant Park, an additl<'D teo :he 'Tow:, of" Addison, dated March 9, 1988 and recorded in Volume 88066, Page 4219 of said Deed Records, said point also being in the East line of said Addison Restaurant Park, and the East lin,,: of a called 4.1525 acre tract conveyed to Heritage In:! Number XIII dated January 24, 1997 and recorded in Volume 97018, Page (';)073 of said Deed Records; THENCE, 􀁎􀁏􀁒􀁔􀁾􀀠00°12' 19" EAST (called SOUTH 00°49' 37" w;o;STl, along the common West lines of said Lot 1 and said called 19.01 acre tract and East lines of said Addison Restaurant Park and said called 4.1525 acre tract, a distance of 21.00 feet to a point in a curve of the new South Right of Way line of Arapaho Road for the Northwest corner and POINT OF BEGINNING of the herein described tract; THENCE, NORTHEASTERLY, departing said common line and along said new South Right of Way of Arapaho Road and along said curve to the the left, having a radius of 1,177.92 feet, a central angle of 4°03'26", a chord bearing North 68°23'47' East for 83.39 feet, for an arc distance of 83.41 feet to the point of tangency of said curve; {:"O.lC". 200] 0 0 ,. 0 8 5 I 0 Page 1 of 3 >III a lJJ 3: lJJ :> L1J 0:: PARCEL 4-TE -ARAPAHO ROAD PROJECT THENCE, NORTH 66°22' 04" EAST, continuing along said new South Right of Way line of Arapaho Road, a distance of 30.71 feet to a point for corner in the South line of said roadway easement; THENCE, SOUTH 23°37' 56" EAST, departing said line, a distance of 10.00 feet to a point for corner; THENCE, SOUTH 66°22'04" WEST, a distance of 30.71 feet to the point of curvature of a tangent curve to the right; THENCE, SOUTHWESTERLY, along the arc'of said curve to the right having a radius of 1,187.92, a central angle of 04 ° 13' 50", a chord bearing South 68°28' 59" West for 87.69 feet, for an arc distance of 87.71 feet to a point for corner in the common West lines of said Lot 1 and said called 19.01 acre tract and East lines of said Addison Restaurant Park and said called 4.1525 acre tract; THENCE, NORTH 00°12'19" EAST (called SOUTH 00°49'37" WEST', along said <::Ol1unon line, a distance of 10.62 feet to the POINT OF BEGINNING; CONTAINING an area of 0.0267 acres or 1,163 square feet of land wi thin the fI1etes reci ted. -':0.1<. All bearings are referenced to the North Right of Way line of -Centurion Way, called S 89°51'55" E, according to the final plat of Lot 3, Surveyor Addition, Addison West Industrial Park, recorded in Vol. 77173, Page 135, Deed Records of Dallas County, Texas. A plat of even survey date herewith accompanies this description. I, Ayub R. Sandhu, a Registered Professional Land Surveyor, hereby certify that the legal description hereon and the accompanying plat represent an actual survey made on the ground under my supervision. 􀁾J<. 􀁾􀀷􀀭􀀭􀀺􀀼􀀶􀀭􀁯􀁊􀀠 Ay b R. Sandhu, R.P.L.S. Texas Registration No. 2910 2003 0alJ 0 8 5 .1111 Page 2 of 3 -,-,---􀁾􀁾􀀬􀀭􀀭􀀭􀀮􀀭􀀭􀀭􀀭􀀭--. " -------_. 􀀧􀀠-LINE TABLEREVIEWED BY, ," , , r BEARING OIST-LINE CALLED CALLED􀀻􀀴􀁾t!f!-/f-.:l2... L 1 I S 􀀰􀀰􀀧􀀱􀀲􀀢􀀹􀁾􀀬􀀠W SOO',9'37'W 21.00' . . L2 I N 66"22'04" E -30.7". 􀁾....􀁾􀀮􀀠'" ,L3 I S 23'37'56" E I I 10.00' L4 I S 66"22'04" W I I 30.7" 􀁾􀀭􀀭:<-", 􀁾􀀭-". ," 􀀧􀀭􀁾􀀧􀀠," L5 __. .1'1.00'12'19" E SOO'4S'37'W 10.62' .."," 􀁾􀀠t '"'" ,_CURVE i DELTA RADIUS LENGlH CHORD Cl 4'03'26" 1177.92' 83.41' N 68"23'47" E -83.39' o o • .,.",0 .0"0) .s2 4'13'50" 1187.92' 87.71' S 68"28'59" W -87.69' I01:"" o DENOTES A FOUND POINT AS INDICATED '"6 "'-"'•..., .0" "..'-􀁾􀁏••.) (CONTROLING MONUMENTS),." .0') .,,,,,, , 0 "" ,--....'" ;:,;" ""-,00" p. ,,,, • DENOTES A 5/8" IRON ROD SET UNLESS ""-,000'. pO. "" 􀀮􀁾􀀮􀀠'1" fe',; O.q. 0 .••• .,." OlHERWISE NOTED ---NEW RIGHT OF WAY LINE I'i;) L3C.R.C.C:" N RO L4 􀁾􀁀􀁜􀁗􀁬&[j?J@􀂩􀁀􀁀􀁾􀀠􀀤􀀡􀁕􀁊􀁛􀁪􀀿􀁊􀀬􀂥􀀬􀁾􀁗􀁎􀁅􀁾􀀠􀁾􀁒􀁾􀁐􀁾􀁾􀁏􀀠RoAD 􀀦􀁑􀁾􀁾􀂮􀀠• LOT 1 CAULEO 19.01 AC. 􀁾􀀠BLOCK A BELTWOOD RESERVOIR N '" CITY OF DALLAS AUGUST 5, 1958 􀀭􀀭􀀧􀁾􀀭􀀭􀀭􀀭􀀮􀀬􀀠AUGUS T 2, 1989 HERITAGE INN NUMBER VOL 90012, PG. 3386 § VOL 4942, PG. 629 D.R.D.C.T. XIII, z D.R.D.C.T. ADDISON RESTAURANT LIMITED PARTNERSHIP PARK CAULED 4.1525 ACRES MARCH 9, 1988 JANUARY 24, 1997 VOL. 88066, PG. 4219 . VOL. 97018, PG. 00073 FND. 1/2' IRON ROO ARAPAHO ROAD D.R.D.C.T. , D.R.D.C.T. TEMPORARY CONSTRUCTION EASEMENT PARCEL 4-TE A PLAT OF A NOTES: 0.0267 ACRE (1,163 SQ. FT.) -;:"., . 􀀢􀀺􀁾􀀠TRACT OF LANDALL EASEMENTS SHOWN ARE TAKEN FROM lHE PLATS INDICATED I,ll IN THE EDWARD COOK SURVEYHEREON. lHE SURVEYOR OlD NOT ABSTRACT lHE SUBJECT <: 􀀼􀀮􀁾''.', . 1\\PROPERTY SO ALL EASEMENTS MAY NOT BE SHOWN. ABSTRACT NO. 326c.. 􀀬􀀩􀀭􀀮􀀮􀀮􀀻􀀬􀁜􀁾,r:: TOWN OF ADDIS ON􀀮􀁾􀀠',,1 ALL BEARINGS ARE REFERENCED TO lHE NORlH RIGHT OF WAY DALLAS COUNTY, TE XAS LINE OF CENTURION WAY, CAULED S 89'51'55" E, ACCORDING TO lHE FINAL PLAT OF LOT 3, SURVEYOR ADDmON, ADDISON WEST INDUSTRIAL PARK, RECORDED IN VOL. 77173, PAGE 135, D.R.D.C.T. 􀁾􀀬􀁾􀀻􀁾􀁾􀁾􀁦􀁦􀁬A LEGAL DESCRIPTION DESCRIPTION OF EVEN SURVEY DATE HEREWllH GRAPHIC SCALE ACCOMPANIES lHlS PLAT. PAGE 3 OF 􀀳􀀷􀁾􀀮􀀻􀁺􀀶􀀭􀀰􀀨􀀠1 INCH = 50 FT. f!1 S80 fJOOEOOl r:: !I • !!... f::O 􀀲􀁄􀀰􀀳􀁊􀀬􀁾􀁎􀀠-7 PH 3: 22 " COWl I Y [I 􀁌􀀬􀀬􀁾'] .' 1 • • r:-.... ,-,.j \ L,}·,:..LJ';.) COUHTY RETURN TO <6J CITY OF DALLAS PROPERTY MANAGEMENT 􀀳􀁩􀁾􀁡􀀻􀀺􀀠􀁗􀁦􀁥􀁾􀁾􀁾􀁾􀀳􀁾􀁾􀁦􀀳􀁩􀀠Am. 203 '" '-""'------------------------------,r-TEMPORARY WORKING SPACE 􀁅􀁁􀁓􀁅􀁍􀁅􀁾􀁔􀀱􀀴􀀲􀁡􀀦􀁯􀀠THE STATE OF TEXAS § Glioma aWQ13 $15.00 § KNOW ALL PERSONS B'rlltilIllESE PRESENTS: COUNTY OF DALLAS § That City of Dallas (hereinafter called "Grantor" whether one or more natural person or legal entities) of the County of Dallas, State of Texas, for and in consideration of the sum of ONE THOUSAND TWO HUNDRED TWENTY-ONE AND NO/l00 ($1,221.00) DOLLARS to the undersigned in hand paid by the Town of Addison, 16801 Westgrove Drive, Addison, Texas 75001, a Texas municipal corporation (hereinafter called "Grantee"), the receipt of which is hereby acknowledged and confessed, and the further benefits to be derived by the remaining property as a rasult of projected public improvements, has granted, sold and conveyed and does hereby grant, sell and convey unto Grantee, its successors and assigns, a right-of-way under, in and along the property described in "Exhibit A", attached hereto and made a part hereof by reference for all purposes (sometimes referred to as the "Property"), for the purpose of working space and storage of machinery; supplies, equipment and material in connection with the construction of a public trafficway for the passage of vehicular and pedestrian traffic, Any and all trees which Jie within this temporary working space may be trimmed of low limbs or removed by the Grantee or its contractor without liability to Grantor if deemed essential to allow for the normal use or passage of construction eqUipment during the construction of said main or mains, Upon completion of construction, all surplus excavation, debris, trash or litter resulting from said construction shall be cleaned up and hauled off the premises, and said property, including the fences disturbed, shall be restored as nearly as practicable to its original contour and condition. It is understood and agreed by Grantor that the consideration herein represents full and adequate consideration for the right-or-way granted, together with any and all all damages, costs and/or inconvenience that may be inCident to the construction, This grant shall be for a term of 360 days, beginning upon commencement of construction on Grantor's property and terminating upon completion of construction on Grantor's property or expiration of the time period, whichever occurs first, at which time all rights granted under this instrument shall terminate and cease and the described property shall be restored to it's former condition as nearly as possible, " As a material part of the consideration for this easement, Grantor and Grantee agree that Grantee is taking the Property "AS IS" with any and all latent and patent defects and that there is no warranty by Grantor that the Property has a particular financial value or is fit for a particular purpose. Grantee acknowlec\ges and stipulates that Grantee is not relying on any representation, statement, or other assertion with respect to the Property condition but Is relying on Grantee's examination of the Property. Grantee takes the Property with the express understanding and stipulation that there are no express or implied warranties except for the limited warranty of title set forth In this easement instrument. Grantee's rights to use the Property is nonexclusive, and Grantor reserves for Grantor and Grantors successors and assigns the right to use all or part of the Property in conjunction with Grantee as long as such use by Granlor and Its successors and assigns does not Intertere with the use of the Property by Grantee for the easement purpose and the right to convey to others the right to use all or part of the Property in conjunction with Grantee, as long as such further conveyance is subject to the terms of this easement instrument. TO HAVE AND TO HOLD the above described property unto the Town of Addison for the purposes hereinbefore provided, and said Town of Addison, its agents, servants and contractors shall have the right to go upon said property for the purpose of a working easement and as an easement for the storage storage of supplies, materials, machinery and eqUipment for the term herein provided, , EXECUTED this 􀁬􀁫􀁬􀁾􀁟􀀠day of l 'f (iI IL( i(f.'1 ,2002, CITY OF DALLAS 􀁔􀁅􀁾􀁊􀀮BENAVIDErlty Manager BY: 'Web ' .. .::::::1._ .. _ ........ _.._ ._..._._ '*"'" \. \ # ... : 􀀭􀁲􀁾􀀠p: APPROVED AS TO FORM: .n ". • I :' t: MadeleinlllB. Johnson, City AI .... ..'-};"J 't' *'........... """ """ -......" , ssistant City AttoTutfultled 􀁴􀁑􀁬􀁉􀀬􀀻􀁬􀁾􀁬􀀠THE STATE' OF TEXAS ) ) COUNTY OF DALLAS ) \ ' I This instrument was acknowledged before me on 􀀱􀁊􀁩􀀡􀀨􀀺􀀱􀀭􀁾􀀯􀀠.11·1 Itt nor: . by;(YI1,V :s f.:-Y;V'/-j Assistant City Manager of the City of Dallas, a Texas municipal co1Q9ration, on behaff of the City of Dallas, "-1 ' ' I , 1-, I .. '-r-(: '/'􀀭􀀭􀀺􀁾􀀬.. -", .. JLC f td{ /{ I.L' ,_, ,ttl. Cr:..· " ,." 􀁾􀀺􀀢􀀧􀁩􀀢􀁾􀀻􀁾􀀬􀀬􀀺􀀺􀀠􀁾􀀮􀀺􀁾..;,;: Notar)/PubllC, State of Texas .. ,..􀀺􀁴􀁾􀀻􀁾􀂷􀀬􀀮􀀭􀁾􀀠􀁓􀁴􀁥 􀁯􀁲􀁬􀁥􀀭􀁈􀀱􀁫􀁾􀀠F3793 DALLAS T Y L E R TEL 214.672.2000 FAX 214.072.2020 Doc;umcnl It: 1033690 WWW.COWLESTHOM PS 􀁏􀁾􀁌􀀠co M : 􀀱􀁕􀁬􀀡􀀺􀁬􀁾􀀠d! wr;e =, !=sd 􀀺􀁩􀁾􀀠􀁾􀀮􀀠t't.: 􀁾c:oe:.;E 􀁾􀁜􀁉􀀧􀀧􀀧􀀧􀀠􀁾􀁃􀁔NO. 1D. on" . 􀁾.. of Lot I. 81oc!1 , ....... _ .f ..... 2, lIIot/IIg flo 1M --'Y .1-01-""1' Itt. of _ A_ Rood; -.... !lit -r!light of Woy or __ 1109'1 , __RIl1'l s..,;n : .' 00'I:fOO" !foot, 0 __ of 􀀬􀁾􀁾fool to 11M p-'I of 􀁾􀀠eot: :> 1Jli WEST 20.00' q I;;. PROPOSED 20' I PAAKWAY EASEMENT "-, ffi '5I,I I I ) I 15' 􀁓􀁔􀁒􀁅􀁅􀁔􀀬􀁾􀀠I I I I DRAINAGE £SM T. I I Sr;' --" , --􀁾􀀵􀀯􀀸􀀢􀀠I.R.F. S1: iOUIS , "" SCALE: 1 "=60' .'I -----<{< SOU1J;i'I, "" I < 11---.... 􀁾􀁾eSTtl/N fl.1/"" r --I-..L '"" 􀁉􀁾􀀬􀀮􀀮􀀮􀀮􀀠"" IS' UTILITY ESM'T. //---j-k 􀁾􀀬􀀠􀁾􀁾􀀠"-,􀁊􀀠r-􀀢􀁾􀁾􀀧􀀠"􀁾􀀠􀁾􀀢􀀧􀁾􀀠" , ,It" ADDISON 􀁾􀁾􀀠II 􀀢􀁚􀀧􀁾..􀀻􀀭􀀭􀀭􀀧􀁾􀀠s em •• "'" • Iv CAli' I I (' "" \ \", 􀁾􀀡􀀠£Y L 877iJ 􀁾􀁁􀁬􀁩􀀧􀁴􀀠. w '" 8 􀁉􀁾􀀠!:: ''':>! 0.. '" ::L.J 􀁾􀀠􀁾􀁉􀁾􀀠RPRISES. LP 1G 'I 1,1 '" ,; , i:Qci d 􀁊􀁾􀀠Wo..o.. Il\'SON EN1E "" I,. . ,"" <0"''"' • , • , \a: I _ 􀁾􀁾􀁧􀀠a.. l.J.J ::; BLOCK I. aii§ V 'SLOCK 1. LOT 2 ! OL 96180, PG. 029 \ ,􀁉􀁾􀀠􀁩􀀧􀁬􀁯􀀺􀁾..,Z'" II '·0 ,. , I 􀁾􀀠􀁾􀀸􀁾􀀠li! "< BLOCK 1, LOT \\ 􀁾􀀧•. "􀁾􀀧􀀢􀀠\. J' STREETI 􀀽􀁲􀀢􀁾􀀢􀁾􀀠--T ADDISON 5/8"ROAD RD. BIRKHOfF. HENllIlICI1 AT r::m ADDISON RD. TO KELLER SPRINGS PARKWAY EASEMENT 􀁾􀁶􀁶􀁾􀀠I ---09-12-02 14:10 Fro.-PROPERTV 􀁾􀁎􀁁􀁇􀁅􀁍􀁅􀁎􀁔􀀠 2149484083 T-GDS P.OI/Ot F-OSS 􀁾City of Dallas FAX COVER PAGE 􀁾Property Management Date: September 12. 2002 (2:05PM) !fth.", are any problems Y;itft lIle receipt oflh. docum.nts. call the sende' c!ireclty alIne nurnbet below or (214) 948-4100. Number of total PCiges in this transmission: 2 TO: James C. Pierce. Jr. FAX #: 972 450 2837 Public: Works Department Town of Addison FROM: Orlando Alameda FAX#: 214-948-4083 Senior Real Eslate Specialist ALTERNATE#: 214-948email: oalamed@c:i.dallas.tx.us PHONE #: 214-948-4159 Log #25877 -Street & TemporalY Working Space Easements SUBJECT: Beltwood Reservoir Arapaho Road Phase III -Parcel 4 COMMENTS: 320 E. JEFFERSON BLVD. DALLAS, TEXAS 75203 214-948-4100 *** CONFIDENTIALITY NOTICE *** This Fax Cover Sheet and the documents, if any. accompanying il, contain confidential information which is legally privileged. The information is intended only forthe use of the recipient named above. If you have received this fax, in error, please immediately notify us by telephone to arrange for return of the original documents to this office. You are hereby noHIIed that any disclosures. copying. distribution or the taking of any action in reliance on the contents of this lax information is strictly prohibil&d! 09-12-02 14:10 From-PROPERTV MANAGEMENT 2149484083 T-698 P.02/02 F-G!! CITY OF DALLAS September 12, 2002 James C. Pierce, Jr. VIA FACSIMILE Public Works Department Town of Addison P.O. Box 9010 Addison, TX 75001-9010 Re: Street Easement & Temporary Working Space Easement Beltwood Reservoir Arapaho Road Phase 111-Parcel 4 Dear Mr. Pierce: The Office of Property Management has processed your request for the above referenced easements. In order to submit your request for City Council approval I will need a check in the amount of $14,764, calculated as follows: . Street Easement 1.114 sq.ft x $12/sq"t. = $ 13,368 Temporary Working -1,163 sq.ft. x $12/sq,ft. x 10%" $ 1.396 Space Easement $ ·14,764 To be placed on the October 9, 2002 City CounCil agenda, the check must be received by September 16, 2002. If you cannot meet this deadline please let me know. 􀁓􀁩􀁮􀁾􀀠9R 􀁾􀁮􀁤􀁯􀁁􀁬􀁡􀁾􀁥􀁤􀁡􀀠. "Senior Real Estate Specialist TOWN OF ADDISON, TEXAS RESOLUTION NO. R02-114 A RESOLUTON OF THE CITY COUNCIL OF THE TOWN OF ADDISON, TEXAS, AUTHORIZING THE CITY MANAGER TO PURCHASE AN EASEMENT IN A 0.0256 ACRE TRACT OF LAND FOR PERMANENT RIGHT-OF-WAY AND A TEMPORARY EASEMENT IN A 0.0267 ACRE TRACT OF LAND FOR CONSTRUCTION PURPOSES (BOTH TRACTS LOCATED GENERALLY AT 4799 BELT LINE ROAD). WHEREAS, the proposed Arapaho Road Extension Project is currently underway, which includes right-of-way acquisitions; and WHEREAS, a tract of land approximately 0.0256 acres in size is required for permanent right-ofway adjaCent to the proposed extension ofArapaho Road; and WHEREAS, a tract of land approximately 0.0267 acres in size is required for a temporary construction easement in counection with the construction ofsaid permanent right-of-way, and WHEREAS, the owner of the required tracts, has agreed to grant the necessary easements to the Town ofAddison for $13,018.00; Now, Therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE TOWN OF ADDISON, TEXAS: Section 1. That the City Council has determined that $13,018.00 is reasonable compensation for the easements to be acquired and all damages to the property remaining, and does hereby authorize the City Manager to acquire a permanent right-of-way easement in, over and through a 0.0256 acre tract ofland and a temporary construction easement in, over and through a 0.0267 acre tract ofland (both tracts located generally at 4799 Belt Line Road). Section 2. That the City Finance Director be and is hereby authorized to draw a check in favor ofthe City ofDallas, or the current owner ofrecord, in the amount of$13,018.00. Section 3. That this Resolution shall take effect immediately from and after its passage. PASSED AND APPROVED by the City Council of the Town of Addison this 12th day of November 2002. 􀁾􀀬Mayor ATTEST: APROVED AS TO FORM: Cannen Moran:it7Secretary 􀁾􀁤􀁲􀁤􀀠 . Ken C. Dippel, City Attorney OFFICE OF THE CITY SECRETARY R02-114 Steve Chutchian To: Michael Murphy Subject: FW: Beltwood Reservoir-Arapaho Rd., Phase III-Parcel 4 Easement -----Original Message----From: Orlando Alameda [mailto:oalamed@mail.ci.da1las.tx.usl Sent: Wednesday, November 13, 2002 9:35 AM To: schutchian@ci.addison.tx.us Subject: Re: Beltwood Reservoir-Arapaho Rd., Phase III-Parcel 4 Easement Steve, I did received the check and your street and temporary working space easments have been placed on the 12/11/02 Dallas City Council agenda for approval. Once approved the dedication instruments will be routed for signatures and then recorded. Copies of the recorded instruments will be forwarded to you. Let me know if you have any questions. Thanks. Orlando Alameda City of Dallas Department of Development Services Real Estate Division 320 E. Jefferson Blvd., Room 203 Dallas, TX 75203 214.948.4159 214.948.4083 (fax) oalamed@ci.dallas.tx.us 1 Parcel 4-TE Field Note Description Arapaho Road Temporary Construction Easement Town of Addison Dallas County, Texas BEING a description of a 0.0267 acre (1,163 square foot) tract of land situated in the Edward Cook Survey, Abstract Number 326, Town of Addison, Dallas County, Texas, and being a portion of a called 19.01 acre tract of land conveyed to the City of Dallas as evidenced by deed dated August 5, 1958 and recorded in Volume 4942, Page 629 of the Deed Records of Dallas County, Texas, also being a portion of Lot I, Block A of Beltwood Reservoir, an addition to the Town of Addison as evidenced by plat dated August 2, 1989 and recorded in Volume 90012, Page 3386 of said Deed Records, said 0.0267 acre tract of land being more particularly described by metes and bounds as follows; COMMENCING at a 5/8 inch iron rod found for the common Northwest corner of said Lot I, Southwest corner of a roadway easement dedicated by said plat of Beltwood Reservoir, and Southeast corner of a 60 foot wide right of way. dedication as evidenced by the plat of Addison Restaurant Park, an addition to the Town of Addison, dated March 9, 1988 and recorded in Volume 88066, Page 4219 of said Deed Records, said point also being in the East line of said Addison Restaurant Park, and the East line of a called 4.1525 acre tract conveyed to Heritage Inn Number XIII dated January 24, 1997 and recorded in Volume 97018, Page 00073 of said Deed Records; THENCE, NORTH 00°12' 19" EAST (called SOUTH 00°49' 37" WEST), along the common West lines of said Lot 1 and said called 19.01 acre tract and East lines of said Addison Restaurant Park and said called 4.1 5 acre tract, a distance of 21.00 feet to a point in a curve of the new South Right of Way line of Arapaho Road for the Northwest corner and POINT OF BEGINNING of the herein described tract; THENCE, NORTHEASTERLY, departing said common line and along said new South Right of Way line of Arapaho Road and along said curve to the left, having a radius of 1,177.92 feet, a central angle of 4°03'26", 26", a chord bearing North 68°23'47' East for 83.39 feet, for an arc distance of 83.41 feet to the point of tangency of said curve; Page 1 of 3 PARCEL 4-TE -ARAPAHO ROAD PROJECT THENCE, NORTH 66·22' 04" EAST, continuing along said new South Right of Way line of Arapaho Road, a distance of 30.71 to a point for corner in the South line of said roadway easement; THENCE, SOUTH 23°37' 56" EAST, departing said line, a distance of 10.00 feet to a point for corner; THENCE, SOUTH 66 ° '04" WEST, a distance of 30.71 feet to the point of curvature of a tangent curve to the right; THENCE, SOUTHWESTERLY, along the arc of said curve to the right having a radius of 1,187.92, a central angle of 04 0 13' 50", a chord bearing South 68°28'59" West for 87.69 feet, for an arc distance of 87.71 feet to a point for corner in the common West lines of said Lot 1 and said called 19.01 acre tract and East lines of said Addison Restaurant Park and said called 4.1525 acre tract; THENCE, NORTH 00°12'19" EAST (called SOUTH 00°49'37" WEST), along said common line, a distance of 10.62 feet to the POINT OF BEGINNING; CONTAINING an area of 0.0267 acres or 1,163 square feet of land within the metes recited. All bearings are referenced to the North Right of Way line of Centurion Way, called S 89°51'55" E, according to the final plat of Lot 3, Surveyor Addition, Addison West Industrial Park, recorded in Vol. 77173, Page 135, Deed Records of Dallas County, Texas. A plat of even survey date herewith accompanies this description. I, Ayub R. Sandhu, a Registered Professional Land Surveyor, hereby certify that the legal description hereon and the accompanying plat represent an actual survey made on the ground under my supervision. Ayub R. Sandhu, R.P.L.S. Texas Registration No. 2910 Page 2 of 3 o ... ,.,. ADDISON RESTAURAN P.O.C. rno, 5/S' IRON ROD INN NUMBER XIII, PARTNE RSHIP , <7> 􀁾􀀠N o o z LOT 1 BLOCK A BE LTWOOD RE SE RVOIR AUGUST 2, 1989 L4 L3 CALLED 19.01 AC. CITY OF DALLAS AUGUST 5, 1958 VOL. 4942, PG. 629 D.R.D.C.T. LINE TABLE LINE BEARING CAllED DIST CAlLED L1 S 00'12'19" W 21.00' L2 N 66'22'04" E 30.71' L3 S 23'37'56" E 10.00' L4 S 66'22'04" W 30.71' L5 N 00'12'19" E SOO'4g'3rW 10.62' CURVE TABLE CURVE DELTA RADIUS LE NGTH CHORD Cl 4'03"26" 1177.92' 83.41' N 68'23'47" E -83.39' C2 4'13'50· 1187,92' 87.71' S 68'28'59" W 87.69' [g[Q)\Wl􀁾􀁾􀁛􀁑􀀩􀀠􀂩􀂩􀂩􀁾􀀠􀂮􀀡􀀡􀁊􀁊􀁾􀁾􀁛􀁧􀀧􀁬􀁦􀀠􀁾􀁣􀁾􀁾􀂮􀀠CALLE D 4.1525 ACRE SPARK VOL. 90012, PG. 3386 JANUARY 24, 1997MARCH 9, 1988 D.R.D.C.T. VOL. 97018, PO. 00073VOL. 88066, PG. 4219 AND, 1/2' mDN ROO ARAPAHO ROADD.R.D.C.T.D.R.D.C.T. TEMPORARY CONSTRUCTION EASEMENT PARCEL 4-TE A PLAT OF A NOTES: 0.0267 ACRE (1,163 SQ. FT.) TRACT OF LANDALL EASEMENTS SHOWN ARE TAKEN FROM THE PLATS INDICATED IN THE EDWARD COOK SURVEYHEREON. THE SURVEYOR DID NOT ABSTRACT THE SUBJECT PROPERTY SO ALL EASEMENTS MAY NOT BE SHOWN. ABSTRACT NO. 326 TOWN OF ADDISON ALL BEARINGS ARE REFERENCED TO THE NORTH RIGHT OF WAY DALLAS COUNTY, TEXAS LINE OF CENTURION WAY, CALLED S 89'51'55" E, ACCORDING TO • DENOTES THE FlNAL PLAT OF LOT 3, SURVEYOR ADDITION, ADDISON WEST (CONTROLING A FOUND POINT AS INDICATED WAY LINE 3 OF 3 MONUMENTS) 50 0 25 50 100INDUSTRIAL PARK, RECORDED IN VOL. 77173, PAGE 135, 􀁾__--' !! I•D.R.D.C.T. OTHERWISE NOTED ---NEW RIGHT OF GRAPHIC SCALE ACCOMPANIES THIS PLAT. PAGE 1 INCH = 50 FT. A LEGAL DESCRIPTION OF EVEN SURVEY DATE HEREWITH Parcel 4-TE Field Note Description Arapaho Road Temporary Construction Easement Town of Addison Dallas County, Texas BEING a description of a 0.0267 acre (1,163 square foot) tract of land situated in the Edward Cook Survey, Abstract Number 326, Town of Addison, Dallas County, Texas, and being a portion of a called 19.01 acre tract of land conveyed to the City of Dallas as evidenced by deed dated August 5, 1958 and recorded in Volume 4942, Page 629 of the Deed Records of Dallas County, Texas, also being a portion of Lot 1, Block A of Beltwood Reservoir, an addition to the Town of Addison as evidenced by plat dated August 2, 1989 and recorded in Volume 90012, Page 3386 of said Deed Records, said 0.0267 acre tract of land being more particularly described by metes and bounds as follows; COMMENCING at a 5/8 inch iron rod found for the common Northwest corner of said Lot 1, Southwest corner of a roadway easement dedicated by said plat of Beltwood Reservoir, and Southeast corner of a 60 foot wide right of way dedication as evidenced by the plat of Addison Restaurant Park, an addition to the Town of Addison, dated March 9, 1988 and recorded in Volume 88066, Page 4219 of said Deed Records, said point also being in the East line of said Addison Restaurant Park, and the East line of a called 4.1525 acre tract conveyed to Heritage Inn Number XII I dated January 24, 1997 and recorded in Volume 97018, Page 00073 of said Deed Records; THENCE, NORTH 00°12' 19" EAST (called SOUTH 00°49' 37" WEST), along the common West lines of said Lot 1 and said called 19.01 acre tract and East lines of said Addison Restaurant Park and said called 4.1525 acre tract, a distance of 21. 00 to a point in a curve of the new South Right of Way line of Arapaho Road for the Northwest corner and POINT OF BEGINNING of the herein described tract; THENCE, NORTHEASTERLY, departing said common line and along said new South Right of Way line of Arapaho Road and along said curve to the , having a radius of 1,177.92 feet, a cent angle of 4°03'26", a chord bearing North 68°23'47' East for 83.39 feet, for an arc distance of 83.41 feet to the point of tangency of said curve; Page 1 of 3 PARCEL 4-TE -ARAPAHO ROAD PROJECT THENCE, NORTH 66° 22' 04" EAST, continuing along said new South Right of Way line of Arapaho Road, a distance of 30.71 to a point for corner in the South 1 of said roadway easement; THENCE, SOUTH 23°37' 56" EAST, departing said line, a distance of 10.00 feet to a point for corner; THENCE, SOUTH 66°22' 04" WEST, a distance of 30.71 feet to the point of curvature of a tangent curve to the right; THENCE, SOUTHWESTERLY, along the arc of said curve to the right having a radius of 1,187.92, a central angle of 04 ° 13' 50", a chord bearing South 68°28'59" West for 87.69 feet, for an arc distance of 87.71 feet to a point for corner in the common West lines of said Lot 1 and said called 19.01 acre tract and East lines of said Addison Restaurant Park and said called 4 .1525 acre tract; THENCE, NORTH 00°12' 19" EAST (called SOUTH 00°49' 37" WEST), along said common line, a distance of 10,62.feet to the POINT OF BEGINNING; CONTAINING an area of 0.0267 acres or 1,163 square feet of land land within the metes recited. All bearings are referenced to the North Right of Way line of Centurion Way, called S 89°51'55" E, according to the final plat of Lot 3, Surveyor Addition, Addison West Industrial Park, recorded in Vol. 77173, Page 135, Deed Records of Dallas County, Texas. A plat of even survey date herewith accompanies this description. I, Ayub R. Sandhu, a Registered Pro sional Land Surveyor, hereby certify that the legal description hereon and the accompanying plat represent an actual survey made on the ground under my supervision. Ayub R. Sandhu, R.P.L.S. Texas Registration No. 2910 Page 2 of 3 LINE TABLE LINE BEARING CAllED DIST CALlED Ll S 00'12'19" W SOO'49'37·W 21.00' L2 N 66'22'04" E 30.71' L3 S 23'37'56" E 10.00' L4 S 66'22'04" W 30.71' L5 N 00'12'19" E SOO'49'37·W 10.62' o 􀁾􀀺􀁎􀀠HERITAGE INN NUMBER XIII. "i:n N o o Z LOT 1 BLOCK A BELTWOOD RESERVOIR L4 L3 CALLED 19.01 AC. CITY OF DALLAS AUGUST 5. 1958 VOL. 4942. PG. 629 D.R.D.C.T. LIMITED PARTNERSHIP CURVE TABLE CURVE DELTA RADIUS LE NGTH CHORD Cl 4'03'26" 1177.92' 83.41' N 68'23'47" E -83.39' C2 4'13'50" 1187.92' 87.71' S 68'28'59" W -87.69' 􀁾􀁛􀁑􀀩􀁜􀀧􀀡􀁩􀁗􀁾􀀱􀁒􀁬􀁛􀁑􀀩􀀠􀀨􀁴􀀻􀀻􀂩􀂩􀁾􀀠􀂮􀁾 􀁾􀁉􀁒􀁬􀁜􀁖􀁬􀁾􀁗􀀠􀁾􀁣􀁾􀁾􀁀􀀠RESTAURANJ AUGUST 2. 1989 CALLE D 4.1525 ACRE SPARK VOL. 90012. PG. 3386 JANUARY 24. 1997MARCH 9. 1988 D.R.D.C.T. VOL. 97018. PG. 00073VOL. 88066. PG. 4219 FNo. 1/2' IRON ROD ARAPAHO ROADD.R.D.C.T.D.R.D.C.T. TEMPORARY CONSTRUCTION EASEMENT PARCEL 4-TE A PLAT OF A NOTES: 0.0267 ACRE (1,163 SQ. FT,)􀀭􀁾􀀠􀁉􀁉􀁦􀁪􀁾􀁴􀀭􀁦􀀰􀁾􀀺􀁾􀀠TRACT OF LANDALL EASEMENTS SHOWN ARE TAKEN FROM THE PLATS INDICATED ....,. r--<:HEREON. THE SURVEYOR DID NOT ABSTRACT THE SUBJECT 0° 􀁦􀀺􀀧􀁔􀁾􀁾􀀧􀀠,...+􀀧􀁊􀀧􀁾􀀠IN THE EDWARD COOK SURVEYJIt 􀀢􀀧􀁾􀀠,"-\ .•􀁾􀀧􀀳􀁾􀁟􀀢􀀬􀁣􀀻􀀾􀁾􀀧􀀢􀀠" PROPERTY SO ALL EASEMENTS MAY NOT BE SHOWN. ABSTRACT NO. 326􀁾􀀻􀀮􀀬􀀧􀀮􀀺􀀧.. 􀀬􀀮􀁾.. 􀀬􀀮􀁾􀀺􀀺􀀮􀁾􀀠TOWN OF ADDISON ALL BEARINGS ARE REFERENCED TO THE NORTH RIGHT OF WAY (€, AYUB R. SANDHU DALLAS COUNTY, TEXAS LINE OF CENTURION WAY. CALLED S 89'51'55" E. ACCORDING TO o DENOTES A FOUND POINT AS INDICATED 􀁾􀀠....;.<; ............."0... THE FINAL PLAT OF LOT 3, SURVEYOR ADDITION, ADDISON WEST (CONTROLING MONUMENTS) 􀁾􀀨􀀢􀀠􀀢􀁾􀁏􀀢􀀬􀀲􀀹􀀱􀀰􀁏􀁾􀀢􀀺􀀭􀁏􀁑􀀻􀀭25 50 100 INDUSTRIAL PARK, RECORDED IN VOL. 77173, PAGE 135, ; ; I• DENOTES A 5/8" IRON ROD SET UNLESS 􀁬􀀧􀀧􀁦􀀬􀀭􀁄􀀧􀀧􀀧􀁦􀀮􀁾􀀨􀁬􀀬􀀩􀀮􀀻􀁾􀀴􀀻D.R.D.C.T. OTHE RWIS E NOTE D .i.J . -'J ---NEW RIGHT OF WAY LINE ""7' 􀀬􀀬􀀧􀁾􀀧􀀠r A LEGAL DESCRIPTION OF EVEN SURVEY DATE HEREWITH GRAPHIC SCALE ACCOMPANIES THIS PLAT. PAGE 3 OF 3 7'--°1 1 INCH = 50 FT, -- RESPONSE TO COMMENTS FROM CITY OF DALLAS DATED JUNE 4,2002 Every comment was addressed except the following: Under Part One (1) -Heading There is no City lot or block number for this property. Under Part Two (2) -General Description or Statement Again, there is no City lot or block number for this property. Under Part Three (3) -Body, Principle, or Particular Description The Point ofBeginning is referenced in the legal description. There is no Tracl #1 or Tracl #2 -cannot revise. Under Part Four (4) : Sketch, Plat or Map The Point ofBeginning is shown on the plat. The Ownership or Addition name of all adjoined properties called in field notes . are indicated. ---Parcel 4 Field Note Description Arapaho Road Roadway Easement Town of Addison Dallas County, Texas BEING a description of a 0.0256 acre (I, 114 square foot) tract of land situated in the Edward Cook Survey, Abstract Number 326, Town of Addison, Dallas County, Texas, and being a portion of a called 19.01 acre tract of land conveyed to ·the City of Dallas as evidenced by deed dated August 5, 1958 and recorded in Volume 4942, Page 629 of the Deed Records of Dallas County, Texas, also being a portion .of Lot 1, Block A of Beltwood Reservoir,an addition to the Town of Addison as evidenced by plat dated August 2, 1989 and recorded in Volume 90012, Page 3386 of said Deed Records, said 0.0256 acre tract of land being more particularly described by metes and bounds as follows; BEGINNING at a 5/8 inch iron rod found for the common Northwest corner of said Lot 1,· Southwest corner· of a roadway. easement dedicated by said plat of Beltwood Reserv..oir, and Southeast corner of a 60 foot wiele right of way dedicat·ion ion as evidenced by; the plat of Addison Restaurant Park, an addition to the Town ·of Addison, dated March 9, 1988 and recorded in Volume 88066, Page 4219 of said Deed Records, said point a Iso being in the East line of said Addison Restaurant Park, and the East line 0 a called 4.1525 acre tract conveyed to Heritage Inn. Number XIII dated January 24, 1997 and recorded in Volume 97018, Page 00073 of said Deed Records; THENCE, NORTH 80·11'36" EAST (called SOUTH 80°49'50" WEST); departing said·lines and along the common North line of said Lot 1 and. South line of said roadway easement, a distance of 10.82 feet (called 10.57 feet) to a 5/8 inch iron rod set for the beginning of a tangent curve to the left; THENCE, NORTHEASTERLY, continuing along said common line and along the arc of said curve having a radius of 1,270.00 feet, a central angle of 4°22'46", a chord bearing North 78°00'13" East for 97.05 feet, for an arc distance of 97.07 feet to a 5/8 inch iron rod set in the proposed South right of way line of Arapaho Road; Page 1 --PARCEL 4 -ARAPAHO ROAD ROADWAY EASMENT THENCE, SOClTH 66°22' 04" WEST, departing said corrunon line and along said proposed South right of way line of Arapaho Road, a distance of 30.71 feet to a 5/8 inch iron rod set for the point of curvature of a tangent curve to the right; THENCE, SOUTHWESTERLY,. continuing along said line and the arc of said curve having a radius of 1,177.92 feet, a central angle of 4°03'26", a chord bearing South 68°23'47' West for 83.39 feet, for an arc distance of 83.41 to a 5/8 inch 􀁾􀁲􀁯􀁮􀀠rod set in the corrunonWest lines of said Lot 1 and said called 19.01 acre tract· and East lines of said. Addison Restaurant Park and said· called. 4.1525 acre tract; THENCE, NORTH 00°12'19" EAST (called SOUTH 00"49'37" WEST), along .said corrunon line, a distance of 21.00 feet to the POINT OF BEGINNING; CONTAINING an area of 0.0256 acres or 1,114 square feet of land within the. metes recited. All bearings arE; referenced to the North Right of Way line ·of Centurion Way, called S 89"51'55" E, E, according to the final plat of Lot 3, Surveyor Addition, Addison West· Industrial Park, recorded in Vol. 77173, Page 135, Deed Records of Dallas County, Texa.s. A plat of even survey date herewith accompanies this description. I, Ayub R. Sandhu, a Registered Profe9sional Land Surveyor, hereby certify that the legal description hereon and the accompanying plat represent an actual survey made on the ground under my supervision. 􀁾,K. 􀁾...w .//-/;<-17F;UbR: Sandhu, R.P.L.S. ' Texas Registration No. 2910 Page 2 of 3 82/LOT 1, BLOCK A BELTWOOD RESERVOIR ARE A TO BE ACCQUIRE D _\m!SiWW I -=:::::::m 􀁀􀂥􀀻􀁩􀀻􀁾􀀧􀀠>« 3' o 2 PROPOSED ARAPAHO RD BE LT LINE RD >« 3: I-...l W m 􀁂􀁾􀁏􀀡􀀾􀀭􀀭􀁜􀀩􀁾􀀠!>--" o o0>3'3: 1-:::.::: -...l(l; w m Zl 0 (J) -0 S!i ARAPAHO RD 􀁾􀀠N 􀁾􀀠(N.T.S.) PR(J)POSED ARAPAHO ROAD CITY OF DALLAS LOCATION MAP LINE TABLE LINE CALLEDCAllED DISTBEARING SeO'4g'SO"W 10.57'L1 10.82'N 8011'36" E L2 S 66'22'04" W 30.7" N SOO"49'37"WL3 N 0012'19" E 21.00' CURVE TABLE CURVE C1 C2 DELTA RADIUS LENGTH CHORD 4'22'46" 1270.00' 97.07' N 78'00'13" E -97.05' 4'03'26" 1177.92' 83.41' S 68'23'47" W -83.39' 􀁾􀀠...'" 􀁰􀀮􀀮􀀺􀁦􀀮􀀡􀀧􀁾􀁾􀀠o /􀁾􀀻􀀻􀀻􀀻􀀺􀀻􀁹􀀠ADDISON RESTAURANT FIID, 5/S' IRON ROD <:i:r-HERITAGE INN NUMBER XIII. '", m i::; b 0 z LOT 1 BLOCK A BELTWOOD RESERVOIR CALLED 19.01 AC. AUGUST 2. 1989 CITY OF DALLAS VOL. 90012, PG. 3386 AUGUST 5. 1958 D.R.D.C.T. VOL. 4942, PG. 629 D.R.D.C.T. LIMITED PARTNERSHIP CALi.ED 4.1525 ACRES [g1Q)\WI􀁾I¥llIQ) 􀂩􀁀􀁀􀁾􀀠$llJll¥llW[gW 􀁾􀁯􀁾􀁾􀂮􀀠PARK JANUARY 24, 1997 MARCH 9. 1988 VOL. 97018, PG, 00073 VOL. 88066. PG. 4219 D.R.D.C,T. !'NO, 1/2' IRON ROD ARAPAHO ROAD D.R.D.C.T. ROADWAY EASMENT PARCEL 4 A PLAT OF A NOTES: 0.0256 ACRE (1.114 SQ. FT.) TRACT OF LANDALI. EASEMENTS SHOWN ARE TAKEN FROM THE PLATS INDICATED IN THE EDWARD COOK SURVEYHEREON. THE SURVEYOR DID NOT ABSTRACT THE SUBJECT PROPERTY SO ALL EASEMENTS MAY NOT BE SHOWN. ABSTRACT NO. 326 TOWN OF ADDISON ALL BEARINGS ARE REFERENCED TO THE NORTH RIGHT OF WAY LINE 0 DENOTES A FOUND POINT AS INDICATED DALLAS COUNTY, TEXAS OF CENTURION WAY, CALl.ED S 89'51'55" E, ACCORDING TO THE (CONTROLING MONUMENTS) FINAL PLAT OF LOT 3, SURVEYOR ADDITlON. ADDISON WEST • DENOTES A 5/8" IRON ROD SET UNLESS 50 0 25 50 100INDUSTRIAL PARK, RECORDED IN VOL. 77173. PAGE 135, D.R.D.C.T. ! !OTHERWISE NOTED 􀁾􀀭􀀭􀀭􀀭􀀧􀀠---NEW RIGHT OF WAY LINE A LEGAL DESCRIPTION OF EVEN SURVEY DATE HEREWITH ACCOMPANIES THIS PLAT. GRAPHIC SCALE PAGE 3 OF 3 1 INCH = 50 FT. RESPONSE TO COMMENTS FROM CITY OF DALLAS DATED JUNE 4, 2002 Every comment was addressed except the following: Under Part One (1)· Heading There is no City lot or block number for this property. Under Part Two (2) -General Description or Statement Again, there is no City lot or block number for this property. Ul1der Part Three (3) -Body, Principle, or Particular Description The Point ofBeginning is referenced in the legal description. There is no Tract #j or Tract #2 -cannot revise. Under Part Four (II) 􀁾􀀠Sketch, Plat or Map The Point ofBeginning is shown on the plat. The Ownership or Addition name of all adjoined properties called in field notes' are indicated. . Parcel 4 Field Note Description Arapaho Road Roadway Easement Town of Addison Dallas County, Texas BEING a description of a 0.0256 acre (1,114 square foot) tract of land situated in the Edward Cook Survey, Abstract Number 326, Town of Addison, Dallas County, Texas, and being a portion of a called ·19.01 acre tract of land conveyed to the City of Dallas as evidenced by deed dated August 5, 1958 and recorded in Volume 4942, Page 629 of the Deed Records of Dallas County, Texas, also being a portion of Lot 1, Block A of Beltwood Reservoir,an addition to the Town of Addison as evidenced by plat dated August 2, '1989 and recorded in Volume 90012, Page 3386 of said Deed Records, said 0.0256 acre tract of land being more particularly described by metes and bounds as follows; BEGINNING at a 5/8 inch iron rod found· 'for the common Northwest corner of said Lot 1,· Southwest corner· of a 'roadway .easement dedicated by said plat of Beltwood Reserv.oirr and Southeast corner of. a 60 foot wide right of way ·dedicat"ion as" evidenced by .the plat ·ofAddison Restaurant Park, an addit:ionto the Town 'of 'Addison, dated March 9, 1988 and recorded in Volume 88066, Page 4219 of said Deed Records, said point also being in the East line of said· Addison Restaurant Park, and the East line of. a called 4.1525 acre tract conveyed to Heritage Inn. Number XIII dated January 24, 1997 and recorded in Volume 97018, Page 00073 of said Deed Records; THENCE, NORTH 80°11'36" EAST (called SOUTH 80°49'50" WEST)., departing said lines and along the common North line of said Lot 1 and. South line of said roadway easement, a distance of 10.82 feet .(called 10.57 feet) to a 5/8 inch iron rod set for the beginning of a tangent curve to the left; THENCE, NORTHEASTERLY, continuing along said common 1 ine' and along the arc of said curve having a radius of 1,270.00 feet, a central angle of 4°22' 46", a chord bearing North 7 8 ° 00' 13" East for 97.05 feet, for an arc distance .of 97.07 feet to a 5/8 ihch iron rod set in the proposed South right of way line of Arapaho Road; Page 1 PARCEL 4 -ARAPAHO ROAD ROADWAY EASMENT THENCE, SOUTH 66°22'04" WEST, departing said common line and along said proposed South right of way line of Arapaho Road, a distance of 30.71 feet to a 5/8 inch iron rod set for the pOint of curvature of a tangent curve to the right; THENCE, SOUTHWESTERLY, continuing along said line and the arc of said curve having a radius of 1,177.92 feet, a central angle of 4"03'26", a chord bearing South 68°23' 47' West for 83.39 feet, for an arc distance of 83.41 to a 5/8 inch 􀁾􀁲􀁯􀁮􀀠rod set in the common West lines of said Lot 1 and said called 19.01 acre tract· and East Ij..nes of said Addison Restaurant Par k: and said called. 4.1525 acre tract; THENCE, NORTH 00°12'19" EAST (called SOUTH 00°49'37" WEST), along said common line, a distance of·21.00 feet to the POINT OF BEGINNING; CONTAINING an area of 0.0256 acres or. 1,114 square. fe.et. of land within the, l)1etes.recited... All bearings 􀀮􀁡􀁮􀁾􀀠referenced to the North Right of Way line 'of Centurion Way, called S 89"51'55" E, according to the final plat of Lot 3, Surveyor Addition, Addison -West Industrial Park, recorded in Vol. 77173, Page 135, Deed Records of Dallas County, Texas. A plat of even survey date herewith accompanies this description. I, Ayl).b R. Sandhu, a Registered Professional Land Surveyor, hereby certify that the legal description hereon and the accompanying plat represent an actual survey made on the ground under my supervision. 􀁾.£. 􀁾􀀠1/-J2-l'l.",CD A ub R. Sandhu, R.P.L.S. Texas Registration No. 2910 Page 2 of 3 -' E2j LOT 1, BLOCK A BELTWOOD RESERVOIR ARE A TO BE ACCQUIRE D ARAPAHO RD >« :;-;: o :2 PROPOSED ARAPAHO RD BELT LINE RD >-« 􀁾􀀠.....J lJJ m 􀁐􀁒􀁾􀁐􀁏􀁓􀁅􀁄􀀠ARAPAHO ROAD CITY OF DALLAS 􀁌􀁏􀁃􀁁􀁾􀀶􀁎􀀠MAP 􀁂􀁾􀁏􀁦􀀾􀀭􀀧􀁜􀀩􀁾􀀠f>-'< o o0>-:;;:::;;:: f-::,,:: .....J(l.; lJJ m z 0 (j) 0 0 « 􀁾􀀠I N (N.T.S.) --CALLED 10.57' FND, 5/8' IRON ROO ",,, p.O.B. U LINE TABLE LINE BEARING CAillD L1 N 80'11'36" E S80'49"SO"W L2 S 66'22'04" W L3 N 00'12'19" E SOO'49'3rw CURVE TABLE CURVE DELTA RADIUS LENGTH CHORD Cl 4'22'46" 1270.00' 97.07' N 78'00'13" E -97.05' C2 4'03'26" 1177.92' 83.41' S 68'23'47" W -83.39' jgIDJ\Wl􀁾􀁉􀁒􀁬􀁉􀁄􀁊􀀠©@@OC, 􀁾􀁉􀀡􀁊􀁬􀁉􀁒􀁬􀁗􀁪􀁧􀁗􀀠􀁾􀁯􀁀􀁾􀂮􀀠LOT 1 􀀮􀁾􀀠BLOCK A BELTWOOD RESERVOIR CALLED 19.01 AC.N AUGUST 2, 1989 CITY OF DALLASS VOL 90012, PG. 3386 AUGUST 5, 1958 􀁾􀀠, o D.R.D.C.T. VOL. 4942, PG. 629 o -,&"0'_, (R" ..lmmmm.mmmm__ z D.R.D.C.T. c= HERITAGE INN NUMBER XIII, =:! ; LlMllED PARTNERSHIP ADDISON RESTAURANT CALLED 4.1525 ACRES PARK JANUARY 24, 1997 MARCH 9, 1988 VOL. 97018, PG. 00073 VOL 88066, PG 4219 D.R.D.C.T. FND. 1/2' IRON ROO Al'(APAHO ROAD D.R.D.C.T. ROADWAY EASMENT PARCEL 4 A PLAT OF A NOlES: 0.0256 ACRE (1,114 SQ. FT,) TRACT OF LAND ALL EASEMENTS SHOWN ARE TAKEN FROM THE PLATS INDICAlED IN THE EDWARD COOK SURVEYHEREON. THE SURVEYOR DID NOT ABSTRACT THE SUBJECT PROPERTY PROPERTY SO ALL EASEMENTS MAY NOT BE SHOWN. ABSTRACT NO. 326 TOWN OF ADDISON ALL BEARINGS ARE REFERENCED TO THE NORTH RIGHT OF WAY LINE o DENOlES A FOUND POINT AS INDICAlED DALLAS COUNTY, TEXAS OF CENTURION WAY, CALLED S 89'51'55" E, ACCORDING TO THE (CONTROLING MONUMENTS) FINAL PLAT OF LOT 3, SURVEYOR ADDITION, ADDISON WEST • DENOlES A 5/8" IRON ROD SET UNLESS 50 0 25 50 100INDUSTRIAL PARK, RECORDED IN VOL 77173, PAGE 135, D,R.D.C.T. ! !OTHERWISE NOTED Iwc-......---NEW RIGHT OF WAY LINE A LEGAL DESCRIPTION OF EVEN SURVEY DAlE HEREWITH ACCOMPANIES THIS PLAT. GRAPHIC SCALE 1 INCH = 50 FT.PAGE 3 OF 3 Parcel 4-TE Field Note Description Arapaho Road Project Town of Addison Dallas County, Texas BEING a description of a 0.0267 acre (1,163 square foot) tract of land situated in the Edward Cook Survey, Abstract Number 326, Town of Addison, Dallas County, Texas, and being a portion of a called 19.01 acre tract of land conveyed to the City of Dallas as evidenced by deed dated August 5, 1958 and recorded in Volume 4942, Page 629 of the Deed Records of Dallas County, Texas, also being a portion of Lot I, Block A of Beltwood Reservoir, an addition to the Town of Addison as evidenced by plat dated August 2, 1989 and recorded in Volume 90012, Page 3386 of said Deed Records, said 0.0267 acre tract of land being more particularly described by metes and bounds as follows; COMMENCING at the common Northwest corner of said Lot 1, Southwest corner of a roadway easement dedicated by said plat of Beltwood Reservoir, and Southeast corner of a 60 foot wide right of way dedication as evidenced by the plat of Addison Restaurant Restaurant Park, an addition to the Town of Addison, dated March 9, 1988 and recorded in Volume 88066, Page 4219 of said Deed Records, said point also being in the East line of said Addison Restaurant Park, and the East line of a called 4.1525 acre tract conveyed to Heritage Inn Number XIII dated January 24, 1997 and recorded in Volume 97018, Page 00073 of said Deed Records; THENCE, NORTH 00°12' 19" EAST (called SOUTH 00°49' 37" WEST), along the common West line of said called 19.01 acre tract and East lines of said Addison Restaurant Park and said called 4.1525 acre tract, a distance of 21. 00 feet to a point in a curve of the proposed South Right of Way line of Arapaho Road for the Northwest corner and POINT OF BEGINNING of the herein described tract; THENCE, NORTHEASTERLY, departing said common line and along said proposed South Right of Way line of Arapaho Road and along said curve to the left, having a radius of 1,177.92 feet, a central angle of 4°03'26", a chord bearing North 68°23'47' E;ast for 83.39 83.39 feet, for an arc distance of 83.41 feet to the point of tangency of said curve; THENCE, NORTH 66°22' 04" EAST, continuing along said proposed South Right of Way line of Arapaho Road, a distance of 30.71 feet to a point for corner in the South line of said roadway easement; Page 1 of 2 PARCEL 4-TE -ARAPAHO ROAD PROJECT THENCE, SOUTH 23 ° 37' 56" EAST, departing said line, a distance of 10.00 to a point for corner; THENCE, point oSOUTH 66°22' 04" WEST, a f curvature of a tangent cdistance of 30.71 urve to the right; feet to the THENCE, having SOUTWESTERLY, along the a radius of 1,187.92, a arc of said curve central angle of to the right 04°13'50", a chord bearing South 68°28' 59" West for 87.69 feet, an arc distance of 87.71 feet to a point for corner in the common West line of said called 19. 01 acre tract and East lines of said Addison Restaurant Park and said called 4.1525 acre tract; THENCE, NORTH 00°12'19" EAST (called SOUTH 00°49'37" WEST), along said common line, a distance of 10.62 feet to the POINT OF BEGINNING; CONTAINING an area of 0.0267 acres or 1,163 square feet of land within the metes recited. All bearings are referenced to the North Right of Way line of Centurion Way, called S 89°51'55" E, according to the final plat of Lot 3, Surveyor Addition, recorded in Vol. 77173, Page 135, Deed Records of Dallas County, Texas. A plat of even survey date herewith accompanies this description. I, Ayub R. Sandhu, a Registered Professional Land Surveyor, hereby certify that the legal description hereon and the accompanying plat represent an actual survey made on the ground under my supervision. 􀁾􀁋􀁾􀀷􀀭􀁾􀁾􀀭􀁏􀀯 Ay b R. Sandhu, R.P.L.S. Texas Registration No. 2910 Page 2 of 2 UNE TABLE CAlLEDLINE BE ARING CAllED DIST L1 S 00'12'19" W SOO'49'3"W 21.00' L2 N 66'22'04" E 30.71' L3 S 23'37'S6" E 10.00' L4 S 66'22'04" W 30.71' LS N 00'12'19" E SOO'49'3"W 10.62' P.O.C.I .-,-..-..􀀭􀁾􀁾􀀭􀀭􀀮􀀠"} L4 EXHIBIT "B" CALLED 19.01 At. CITY OF DALLAS AUGUST 5, 1958 VOL 4942, PG. 629 CURVE TABLE CURVE DELTA RADIUS LE NGTH CHORD C1 4'03'26" 1177.92' 83.41' N 68'23'47" E -83.39' C2 4'13'50' 1187.92' 87.71' S 68'28'S9" W 87.69' "j .' 􀂷􀂷􀂷􀀭􀂷􀂷􀀻􀀮􀁃􀀺􀀽􀂷􀀺􀀮􀀻􀀻􀁾􀀨􀀿􀂷􀀭􀀺􀀺􀂷􀀺􀀺􀁉􀁔􀁁􀁇􀁅􀀠INN NUMBER i i Xlii, ADDISON RESTAURANT' 'I UMITED PARTNERSHIP PARK CAlli 0 4.1525 ACRE S MARCH 9, 1988 I JANUARY 24, 1997 VOL. 88066, PG. 4219 : VOL 97018, PG. 00073 D.R.D.C.T. D.R.D.t.T. NOTES: ALL EASEMENTS SHOWN ARE TAKEN FROM THE PLATS INDICATED HEREON. THE SURVEYOR DID NOT ABSTRACT THE SU8JECT PROPERTY SO ALL EASEMENTS MAY NOT BE SHOWN. ALL BEARINGS ARE REFERENCED TO THE NORTH RIGHT OF WAY UNE OF CENTURION WAY, CALLED S 89'51'55" E, ACCORDING TO THE FINAL PLAT OF LOT 3, SURVEYOR ADDInON. RECORDED IN IN VOL. 77173, PAGE 135. D.R.D.C.T. A LEGAL DESCRlPllON OF EVEN SURVEY DATE HEREWITH ACCOMPANIES THIS PLAT. 􀁾􀀱􀀱􀂻􀁾􀁾􀀱􀁩􀁩􀁬􀀱􀀱􀂻􀀠􀁾􀁀􀁀􀁉􀁬􀀧􀁻􀀠􀀤􀀡􀁬􀁊􀀩􀁉􀁩􀁩􀁬􀁗􀁬􀁾􀀧􀁬􀁦􀀠􀁾􀁣􀁀􀁾􀁀􀀠LOT 1 D.R.D.C.T. BLOCK A BELTWOOD RESERVOIR AUGUST 2. 1989 VOL. 90012, PG. 3386 D.R.D.C.T. PARCEL 4-TE A PLAT OF A 0.0267 ACRE (1,163 SQ. FT.) TRACT OF LAND IN THE EDWARD COOK SURVEY ABSTRACT NO. 326 TOWN OF ADDISON DALLAS COUNTY, TEXAS o DENOTES A FOUND POINT AS INDICATED • DENOTES A 5/8" IRON ROO SET UNLESS 50 0 25 50 100 OTHERWISE NOTED I I.....I!! ---PROPOSED RIGHT OF WAY LINE 􀁾􀁾􀁾􀁾􀀮􀁾􀁾􀁾􀁾􀀭GRAPHIC SCALE 1 INCH = 50 FT. I I:I􀁾i i -1 LETTER OF , Job No, 25768 OS 301 rile HNTB Companies 5910 West Plano 􀁐􀁡􀁾􀀩􀀧􀀮􀀠$oile 200 -Plano. Texf ,,\\0 􀁾􀁏􀁾􀁏􀀠1'/' _..mE 1t.0.'II·) , 􀁾􀀧􀁩􀀠10. \9!O11 I :t 1/il"{1.. "Go 6'2.9 66"22'04" VI -30.71' -00'2'19" E SOO".9's'* 21.00' CIlORD N 78'00'13" £ -97.05' S 68'l!3'4r VI 83.39' 􀁾􀀠􀁁􀁒􀁾􀁐􀁾􀁏􀀠� �􀁏􀁩􀀧􀁜􀀩􀀠!).It.!),c.1. t6o' 1t.0.'II;) I II.I.....CIl 9, \91!S 9VOL-88(j66, pG. 4-1.\ !).It.O.c.1, 􀁾􀁀􀀪t\1iil@CCCIl( $It!lIiilWIl!'\f 􀁾􀀱􀁬􀀠... 11'.i t\o 31i!@􀀬􀀮􀁰􀁾􀁏􀀠􀁾􀁯􀁾􀁏􀀠AlL EASEMENTS SHOWN ARE TAKEN FR0t.4 THE PLATS INIllCATED HEREON. THE SURI,£YQR DID NOT ABSTRACT THE SUBJECT IN THE EDWARD COOK SURVEY PROPERTY SO AlL EASEMENTS MAY NOT BE SHOWN. ABSTRACT NO. 326 TOWN OF ADDISON ALL BEARINGS ARE REFERENCED TO THE NORTH RIGHT OF WAY DALLAS COUNTY. TEXASLINE OF CENTURION WAY, CAlLED S 89'51'SS" E, ACCORDING TO • DENOTES A FOUND POINT AS INDICATED THE fiNAl PlAT OF LOT 3, SURI,£YQR ADDI11ON, RECORDED IN • DENOTES A 5/8' IRON ROD SET UNLESS 50 0 25 50 100VOl. 77173, PAGE 135. D.R.O.C.T. OTIiERW1SE NGTEO Iwoo---'_􀁾􀀭􀀧􀀠!! ! ---PROPOSED RIPHT OF WAY UNEA LEGAl DESCRIP110N OF EI,£N SURI,£Y DATE HEREWITH ACCOMPANIES THIS PLAT. GRAPHIC SCALE 1 INCH = 50 FT. I 􀁾􀀠 iJi W PRoPOSEO 􀁾􀀠o ADDISON RESTAURAN PARK MARCIl 9, 1968 VOl. 88066, PG. 4219 D.R.D.C.T. NOTES: t2fr CAlJ..ED 19.01 AC, CITY OF DAlJ.AS AUGUST 5, 1958 VOl.. 4942, PO. 629 LOT 1 D.R.D.C.T.HERITAGE INN NUMBER BLOCK AXlII, BELTWooD RESERVIJIRUMITED PARTNERSHIP AUGUST 2, 1989. CALlED 4.1525 ACRES VOl. 90012. P$."p"....O RO,..o P.D.B, 􀁾............ '" ADDISON RESTAURAN HERITAGE INN NUMBER XlII,' UMITED PARTNERSHIP . '" '" :-".-.g z LOT 1 , 􀀸􀁾􀁏􀁃􀁋􀀠A ,SELTWOOD RESERVOIR AUGUST 2, 1989 􀁾􀁾􀁏RO,..o <,'Ir-RI"sLE􀁾􀁉􀀩􀁇􀁬􀁊􀁓􀁯􀀱􀁺􀁚􀀧􀁰􀁾􀀮􀀠􀁾􀁾􀁓􀁾􀁒� �􀁧􀁾􀁊􀀠'I()\.. 90, ' a.R,O'C', . 􀁾􀁒􀁏􀀢􀀱􀁬􀀠CALLED 19.01 AC• CITY OF DALLAS AUGUST '5. 1958 VOL' 4942, PO. 629 D.R.D.C.T. . CALLED 4.1525 ACRES VOL 90012, PG, 3386JANUARY 24, 1997 a.R.D.C.T. VOL, 97018. PG. 00073 'I' FND. 􀀱􀀯􀀲􀁾􀀠IRON ROO D.R.D.C,T. PARK MARCH 9, 1988 VOL. 88066, PG. 4219 D.R.D,C.T. NOTES: ALL.. EASEMENTS SHOWN' ARE TAKE.N FROM THE PLATS INDlCATED HEREON. THE SURVEYOR DID NOT AllS1RACT THE SUBJECT PROPERTY SO ALL EASEMENTS MAY NOT BE SHOWN. ALL BEARINGS ARE REFERENCED TO THE NORTH RIGHT OF WAY LINE ,OF CENTURION WAY, CALLED S 89'51'55" E, ACCORDING TO • DENOTES A rOUND POINT AS INDICATED THE FINAL PLAT OF LOT 3, ·SURVEYOR ADDITION. ADDISON WEST (CONTROUNG MONUMENTS)INDUSTRIAL PARK, RECORDED IN VOL. 77l73. PAGE 135, • DENOTES A 5/B," IRON ROD SET UNLESSD.R.D.C.T. " ' OTHERWISE NOTED ---NEW RIGHT OF WAY LINEA LEGAL DESCRIPTION or EVEN SURVEY DATE HEREWITH ACCOMPANIES THIS PLAT. PAGE 3 OF 3 l I I 􀀡􀁬􀀺􀁜􀀱􀁩􀀩􀀩􀁷􀀱􀁾􀀱􀁦􀁩􀀱􀁩􀀩􀀩􀀠©0l@1l{ 􀁬􀁜􀁜􀁬􀁬􀁬􀀡􀁊􀁉􀁦􀁩􀁗􀁾􀀧􀁜􀁦􀀠. 􀁾􀁣􀁀􀁾􀁾􀀠, ARAPAHO ROAD TEMPORARY CONSTRUCTION EASEMENT PARCEL 4-TE A PLAT OF A 0.0267 ACRE (1,163 SQ:"FT.) TRACT OF LAND IN 1liE EDWARD COOK SURVEY ASS TRACT NO. 326 TOWN OF ADDIS ON DALLAS CO!:lNTY, TE XAS 50 0 25 50 100 I-c--' " I GRAPHIC SCALE 1 INCH = 50 FT. ,#/?/s-tf EVALUATION ASSOCIATES RIGHT OF WAY LAND RIOHTs ANALYSIS· APPRAISAL 􀁾􀀠ACQUISITION· SOLUTIONS SUMMARY OF SALIENT FACTS AND CONCLUSIONS ARAPAHO ROAD PROJECT Property.owner: City of Dallas Water Utilities Parcel No.4 Valuation Conclusion: Whole Property (Land Only) 19.01 Acres @$9.00/SF $7,500,000 Proposed Acquisition 1,114 SF@$9.00/SF $ 10,026 Remainder Before Acquisition $7,489,974 ----------'RemalndefAfter ACqwSition -------.--..-------$7,489,974 Loss in Value ofRetnalnder After $ ·0Deterniination of Compensation: Permanent Right ofWay. $ 10,026 Compensation for Improvements (None; road to be repaired and realigned by Town ofAddison) $ -0. Landscaping (None -Replacement) $ -0Temporary Construction Easement $ 733 Total Compensation. $ 10,859 Date ofAppraisal: October 5, 2002 Location: 4799 Belt Line Road, Town ofAddison, Texas Legal Description: Called 19,01 Acres City of Dallas, Town of Addison, Dallas County, Texas Land Size: Whole Property (per DCAD records) 19.01 Acres Road Right ofway Area . 1,114 SF Temporary Construction Easement 1,163 SF Zoning: I -1 (Industrial) with SU -1 Special Use Permit Highest and Best Use: As ifVacant BEFORE: Cornrnercuu'use As ifVacant AFTER: Cornrnercuu use 11615 Forest Central Drive • Suite 205 • Dallas, Texas 75243-3917 • (214) 553-1414 /lRI5-5 CITY OF DALLAS October 28, 2002 Steven z. Chutchian Public Works Department Town of Addison P.O. Box 9010 _._Addisoor DU5001-901..lL-Re: Log #25877 -Street Easement & Temporary Working Space Easement Beltwood Reservoir Arapaho Road Phase III -Parcel 4 Dear Mr. Chutchian: The Department of Development Services, Real Estate Division has processed your request for the above referenced easements. In order to submit your request for City Council approval I will need a check in the amount of $13,018.00, calculated as follows: Street Easement -1,114 sq.ft. x $1 0.50/sq.ft. ::: $11,697 Temporary Working -1,163 sq.ft. x $1 0.50/sq.ft. x 10% ::: 1,221 Space Easement Easement Recording Fee -2 x $50 per easement = 100 TOTAL $13,018 If you'd like for me to try and place your request on the December 11, 2002 City Council agenda addendum, I must have the check by November 22, 2002. Please let me know if you have any questions. 􀁾􀁭􀀲􀁯􀀠&Q.... Orlando Alameda Chief Real Estate Specialist PROPERTY MANAGEMENT 320 e... JEFFERSON BLVD. 􀁾􀁏􀁏􀁍203 DALlAS, TEXAS 75203 TELEPHONE 214/948-4100 FAX 2141946-4083 OR 214194S-4118 --􀁩􀁰􀀬􀀭􀁯􀁥􀀭􀁯􀁾􀀠􀀱􀁾􀀺􀀵􀀰􀀠From-PROPERTY MANAGEMENT 2149484093 􀁔􀀭􀀹􀁾􀀶􀀠POI/OI F-320 [+) City of DaUas FAX COVER PAGE Property Management Date: October 9,2002 (12:36PM) If lhere are any problem& with the receipt Qftl1e docl,Jmen!s, call the send$( dlroC1.1y at the number below or {214} 948<>4100. Number of total pages in this transmission: 1 TO: Steve Chutchian FAX #: 972 450 2837 Town of Addison FROM: Orlando Alameda FAX #: 214-948-4083 Senior Real Estate Specialist ALTERNATE #: 214-948email: oalamed@cLdallas.tx.us PHONE #: 214-948-4159 Log #25877 • Street Easement & Temporary Working Space SUBJECT: Easement Appraisal Comparables COMMENTS: The following are the comparables used by our appraiser: 1. C Edwin Lewis Dr., 8. Quorum Or. 3. NIS Beltline Rd, 15' E or Business Ave Addison, TX Addison, TX Zoning: Commercial Zoning: Commercial Mapsoo: 14-C Mapsco: 14·A 4.54 AC (197,762sl) 1.571 AC (68,43'351) Sold: 113101 Sold: 1011199 Sale Price: $2,700,000 or $13,65 pst Sale Price: $785.000 or $11.57 psI 2. 500 Midway Rd. 4. WIS Business Ave, Apprx 255' N Qf Addison, TX Beilline Rd Zoning: 1-3 (Industrial) Addison,TX Mapsco: 4·P 1.341 AC (56,414$1) Sold: 1131/00 Zoning: PO (Commercial) Mapsco 14-A 6.552 AC (285,40581) Sale Price: $470,000 or $6.05 psI Sold: 5/13/99 Sale Price: $2.283.240 or $6.00 psf 320 E. JEF'FcRSON BLVD. DALLAS, TeXAS 75203 214-948-4100 *** CONFIDENTIALITY NOTICE *** This Fax Cover Sheet and the documents, if any, accompanying it, contain confidentiallntormation which Is legally privileged. The inrormation is Intended only for the use of the recipient named above. tfyou have received this fax in error, please Immediately notify us by telephone to arrange for return of the original documents to this office. You are hereby notified that any disclosures, copying, distribution or the taking of any action In reliance on the contents Of IhiS tax Information is strictly prohibited! C:\A!il:1'II6di\WPlIlu\' Ill( iMlPlGt•.""'pll TOWN OF ADDISON PUBLIC WORKS From: 􀁓􀁾􀁖􀁅􀀠Ctl'C/'TCIff1,-t/Phone: 972/450-2%,J"£ FAX#: fc{r/C?2.. Fax: 972/450-2837 ( '''f.>Date: Z /tf--SS3-,'It {q. 16801 Westgrove No. of pages (including cover):_2.-'--__ P.O. Box 9010 Addison, TX 75001-9010 --09-17-02 14:51 From-PROPERTV 􀁍􀁁􀁈􀁁􀁇􀁅􀁾􀁎􀁔􀀠 2149484083 T-T20 P.OI/OZ F-030 􀁾City of Dallas FAX COVER PAGE 􀁾Property Management Date: September 17,2002 (10:18AM) Ifl1>ere .'" 􀀮􀁾􀁹􀀠problems with Ihe Mceipl oHIl. documents, calilh. sender dire",ly al lha number below.r (214) 948-4100. Number of total pages in this transmission: 2 TO: Steve Chutchian FAX #: 9724502837 Town of Addison FROM: Orlando Alameda FAX #: 214-948-4083 Senior Real Estate Specialist ALTERNATE #: 214-948email: oalamed@cl.dallas.tx.us PHONE #: 214-946-4169 Log #25877 -Street Easement & Temporal)' Working Space SUBJECT: Easement 􀀭􀀭􀀭􀀭􀁾􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭COMMENTS: Attached is the letter I had previously faxed to Mr. Pierce's attention. Let me know when your ready to send the check so that I can place your request on the next available council agenda. Please let me know if you have any questions. Thanks. 320 E, JEFFERSON 6LVO. DALLAS,TEXAS 75203 214-948-4100 *** CONFIDENTIALITY CONFIDENTIALITY NOTICE *** This Fax Cover Sheet and the documents, if any, accompanying it, contain confidential information which is legally privileged. The information is intended only forthe use of the recipient named above. If you have received this fax in error, please immediately notify us by telephone to arrange for retum of the original documents 10 this office, You are hereby notified that any disclosures, copying, distribution or the laking of any scUon in reliance Oil the contents of this fax information is strictly prOhibited! C;\Alame:dMWP('IOtlFu T.tnp\Aw.wpo 09-l7-0Z 14:51 From-PROPERTY MANAGEMENT 2149484083 T-7ZD P.DZ/DZ F-030 CITY OF DALLAS September 12, 2002 James C. Pierce, Jr. VIA FACSIMILE Public Works Department Town of Addison P.O. Box 9010 Addison, TX 75001-9010 Re: Street Easement & Temporary Working Space Easement Beltwood Reservoir Arapaho Road Phase III -Parcel 4 Dear Mr. Pierce: The Office of Property Management has processed your request for the above referenced easements. In order to submit your request for City Council approval I will need a check in the amount of $14,764, calculated as follows: Street Easement 1,114 sq.ft. x$121sq.ft. = $ 13,368 Temporary Working -1,163 sq.ft. x $12/sq.ft. x 10% = $ 1,396 Space Easement $ 14,764 To be placed on the October 9,2002 City Council agenda, the check must be received by September 16,2002. If you cannot meet this deadline please let me know. 􀁓􀁩􀁾􀁾􀀠􀁾􀁮􀁤􀁯􀁁􀁬􀁡􀁾􀁥􀁤􀁡􀀠,. "'Senior Real Estate Specialist ---􀁾􀀹􀀭􀁉􀁚􀀭􀁏􀁚􀀠14:10 From-PROPERTY MANAGEMENT 2149484nB3 T-699 P.OI/02 F·OSS 􀁾City of Dallas FAX COVER PAGE 􀁾Property Management Date: September 12, 2002 (2:05PM) Iflhere are any probloms with me receipt of Ihe docum.nf$, eall the sender directly 3t1he number below or (214) 948-4100, Number of total pages in this transmission: 2 TO: James C, Pierce, Jr. Public Works Department Town of Addison FAX #: 9724502837 FROM: Orlando Alameda FAX #: 214-946-4083 Senior Real Estate Specialist ALTER NATE #: 214-948email: oalamed@cl.dallas.tx.us PHONE #: 214-948-4159 Log #25677 -Street & Temporary Workin9 Space Easemenls SUBJECT: Beltwood Reservoir Arapaho Road Phase 111-Parcel 4 COMMENTS: :320 E. JEFFERSON BLVD, DALLAS, TEXAS 75203 214-948-4100 *** CONFIDENTIALITY NOTICE *** This Fax Cover Sheet and the documents, if any, accompanying it, contain conlidential information which is legally privileged, The 􀁩􀁮􀀯􀁯􀁬􀁭􀁡􀁾􀁯􀁮􀀠is intended only for the use ofthe recipient named above. If you have received this fax in error, please immediately notify us by telephone to arrange for relurn of the original documents to this office, You are hereby notified that any disclosures, copying, distribution or the laking of any action in reliance on the !;ontents of this fax information is strictly prohibited! 􀁾􀀹􀀭􀀱􀀲􀀭􀀰􀀲􀀠14:10 From-PROPERTY MANAGEMENT 2149484083 T-698 P.02/02 F-966 CllY OF DALLAS September 12, 2002 James C. Pierce,. Jr. VIA FACSIMILE Public Works Department Town of Addison P.O. Box 9010 Addison, TX 75001-9010 Re: Street Easement & Temporary Working Space Essem'ent Bellwood Reservoir Arapaho Road Phase III -Parcel 4 Dear Mr. Pierce: The Office of Property Management has processed your request forthe above referenced easements. In order to submit your request for City Council approvallwilll1eed a check· in the amount of $14,764, calculated as follows: . Street Essement 1.114sq.ft.x$12/sq.ft. = $ 13,368 TemporaryWorklng -1.163 sq.ft. x $12/sq.ft. x.100/0 = $ 1,396 Space Easement . $ ·14,764 To be placed on the October 9. 2002 City Council agenda, the check must be received by September 16, 2002. If you cannot meet this deadline please let me know. 􀁓􀁩􀁮􀁾􀀠9R 􀁾􀁮􀁤􀁯􀁁􀁬􀁡􀁾􀁥􀁤􀁡􀀠. . 'Senior Real Estate Specialist PROPERTY .....NAGI!M!NT =0 £ JEFFEftSON BLVD. ROOM aa3 DALLAS, Ti.xAS 7li.!IOS TElEPHONE 21C1&.8-4100 FAX ,,4184,... 08$ OR 21111148·6"8 Parcel 4 Field Note Description Arapaho Road Project Town of Addison Dallas County, Texas BEING a description of a 0.0256 acre (1,114 square foot) tract of land situated in the Edward Cook Survey, Abstract Number 326, Town of Addison, Dallas County, Texas, and being a portion of a called 19.01 acre tract of land conveyed to the City of Dallas as evidenced by deed dated August 5, 1958 and recorded in Volume 4942, Page 629 of the Deed Records of Dallas County, Texas, also being a portion of Lot 1, Block A of Beltwood Reservoir, an addition to the Town of Addison as evidenced by plat dated August 2, 1989 and recorded in Volume 90012, Page 3386 of said Deed Records, said 0.0256 acre tract of land being more particularly described by metes and bounds as follows; BEGINNING at a 5/8 inch iron rod found for the common Northwest corner of said Lot 1, Southwest corner of a roadway easement dedicated by said plat of Beltwood Reservoir, and Southeast corner of a 60 foot wide right of way dedication as evidenced by the plat of Addison Restaurant Park, an addition to the Town of Addison, dated March 9, 1988 and recorded in Volume 88066, Page 4219 of said Deed Records, said point also being in the East line of said Addison Restaurant Park, and the East line of a called 4.1525 acre tract conveyed to Heritage Inn Number XIII dated January 24, 1997 and recorded in Volume 97018, Page 00073 of said Deed Records; THENCE, NORTH 80°11'36" EAST (called SOUTH 80°49'50" WEST), departing said lines and along the common North line of said Lot 1 and South line of said roadway easement, a distance of 10.82 feet (called 10.57 feet) to a 5/8 inch iron rod set for the beginning of a tangent curve to the left; THENCE, NORTHEASTERLY, continuing along said common line and along the arc of said curve having a radius of 1,270.00 feet, a central angle of 4°22'46", a chord bearing North 78°00'13" East for 97.05 feet, for an arc distance of 97.07 feet to a 5/8 inch iron rod set in the proposed South right of way line of Arapaho Road; Page 1 of 2 PARCEL 4 -ARAPAHO ROAD PROJECT THENCE, SOUTH 66 °22' 04" WEST, departing said common line and along said proposed South right way line of Arapaho Road, a distance of 30.71 feet to a 5/8 inch iron rod set for the point of curvature of a tangent curve to the right; THENCE, SOUTHWESTERLY, continuing along said line and the arc of said curve having a radius of 1,177.92 feet, a central angle of 4°03'26", a chord bearing South 68°23'47' West for 83.39 feet, an arc distance of 83.41 to a 5/8 inch iron rod set in the common West line of said called 19.01 acre tract and East lines of said Addison Restaurant Park and said called 4.1525 acre tract; THENCE, NORTH 00°12'19" EAST (called SOUTH 00°49' 37" WEST), along said common line, a distance of 21.00 feet to the POINT OF BEGINNING; CONTAINING an area of 0.0256 acres or 1,114 square feet of land within the metes recited. All bearings are referenced to the North Right of Way line of Centurion Way, called S 89°51'55" E, according to the final plat of Lot 3, Surveyor Addition, recorded in Vol. 77173, Page 135, Deed Records of Dallas County, Texas. A plat of even survey date herewith accompanies this description. I, Ayub R. Sandhu, a Registered Professional Land Surveyor, hereby certify that the legal description hereon and the accompanying plat represent an actual survey made on the ground under my supervision. 􀁾􀀻􀀨􀀮􀀠􀁾􀀯􀀯􀀭􀀯􀁾􀀭􀁩􀁲Ay b R. Sandhu, R.P.L.S. Texas Registration No. 2910 Page 2 of 2 , ''''.}:L, 􀁪􀁾􀁾􀀧􀁾􀀠-, . HERITAGE INN NUMBER XIII. LOT 1 BLOCK A EXHIBIT "B" CAU..ED 19.01 AC. CITY OF DAllAS AUGUST 5, 1958 VOL 4942, PG. 629 D.R.D.C.T. UMITED PARTNERSHIP CAllED 4.1525 ACRE S I JANUARY 24, 1997 , VOL 97018. PG. 00073 D.R.D.C.T. UNE L1 L2 L3 CURVE Cl 4'22'46· 1270.00' 97.07' N 78'00'13" E -97.05' BE ARING N SO'11'36" E S 66'22'04" W N 00'12'19" E UNE TABLE CAllED S80'4!l'5()'W SOO'4!l'37"W CURVE TABLE DELTA RADIUS LENGTH CAlLEDDlST 10.57'10.82' 30.71' 21.00' CHORD 􀁬􀀮􀀮􀀮􀀭􀀺􀁣􀁃􀀲􀁾􀁾􀀲􀀴􀀧􀁏􀁾􀀳􀀧􀀢􀀬􀀲􀀶􀀢􀀬􀀭􀂷..... 􀁌􀁌􀁬􀁬􀀡􀀮􀀮􀀡􀀷� �􀀮􀀡􀀮􀀷􀀬􀀻􀀻􀀮􀀹􀁾􀀲􀁟􀀧.L.,!,!8>!!3.C!:4.!..1·...L.-'S"-'S"'S""'2"'3·..:o:47.!..·-.!!.W...:-...:..!!S"'3"'.3""9·--l 􀁾􀁛􀁑􀀩􀁾􀁾􀀯􀁒􀁻􀁛􀁑􀀩􀀠©@@IJ{. 􀀤􀁉􀁕􀁊􀀯􀁒􀁻􀁗􀁾􀁗􀀠􀁾􀁣􀁾􀁾􀁀􀀠BELTWOOD RESERVOIR ADDISON RESTAURANT AUGUS T 2, 1989 PARK VOL 90012, PG. 3386 MARCH 9, 1988 D.R.D,C.T.VOL 88066, PG. 4219 D.R.D.C.T. PARCEL 4 A PLAT OF A NOTES: 0.0256 ACRE (1.114 SQ. FT.) TRACT OF LANDALL EASEMENTS SHOWN ARE TAKEN FROM THE PLATS INDICATED IN THE EDWARD COOK SURVEYHEREON. THE SURVEYOR DID NOT ABSTRACT THE SUBJECT PROPERTY SO ALL EASEMENTS MAY NOT BE SHOWN. ABSTRACT NO. 326 TOWN OF ADDISON ALL BEARINGS ARE REFERENCED TO THE NORTH RIGHT OF WAY DALLAS COUNTY. TEXAS LINE OF ClENTURION WAY, CAllED S 89'51'55" E, ACCORDING TO • DENOTES A FOUND POINT AS INDICATED THE FINAL PLAT OF LOT 3, SURVEYOR ADDITION, RECORDED IN • DENOTES A 5/8" IRON ROD SET UNLESS 50 o 25 50 100VOL. 77173, PAGE 135, D.R.D.C.T. , ; ;OTHERWISE NOTED ---PROPOSED RIGHT OF WAY LINE 1A LEGAL DESCRIPTION OF EVEN SURVEY DATE HEREWITH ACCOMPANIES THIS PLAT. GRAPHIC SCALE 1 INCH = 50 FT. Parcel 4 Field Note Description Arapaho Road Project Town of Addison Dallas County, Texas BEING a description of a 0.0256 acre (1,114 square foot) tract of land situated in the Edward Cook Survey, Abstract Number 326, Town of Addison, Dallas County, Texas, and being a portion of a called 19.01 acre tract of land conveyed to the y of Dallas as evidenced by deed dated August 5, 1958 and recorded in Volume 4942, Page 629 of the Deed Records of Dallas County, Texas, also being a portion of Lot 1, Block A of Beltwood Reservoir, an addition to the Town of Addison as evidenced by plat dated August 2, 1989 and recorded in Volume 90012, Page 3386 of ;:;aid Deed Records, said 0.0256 acre tract of land being more particularly described by metes and bounds as follows; BEGINNING at a 5/8 inch iron rod found for the common Northwest corner of said Lot 1, Southwest corner of a roadway easement dedicated by said plat of Beltwood Reservoir, and Southeast corner of a 60 foot wide right of way dedication as evidenced by the plat of Addison Restaurant Park, an addition to the Town of Addison, dated March 9, 1988 and recorded in Volume 88066, Page 4219 of said Deed Records, said point also being in the East line of said Addison Restaurant Park, and the East line of a called 4.1525 acre tract conveyed to Heritage Inn Number XIII dated January 24, 1997 and recorded in Volume 97018, Page 00073 of said Deed Records; THENCE, NORTH 80°11'36" EAST (called SOUTH 80"49'50" WEST), departing said lines and along the common North line of said Lot 1 and South line of said roadway easement, a distance of 10.82 feet (called 10.57 feet) to a 5/8 inch iron rod set for the beginning of a tangent curve to the ; THENCE, NORTHEASTERLY, continuing along said common line and along the arc of said curve having a radius of 1,270.00 feet, a central angle of 4°22'46", a chord bearing North 78°00'13" East for 97.05 feet, for an arc distance of 97.07 feet to a 5/8 inch iron rod set in the proposed South right of way line of Arapaho Road; Page 1 of 2 PARCEL 4 -ARAPAHO ROAD PROJECT THENCE, SOUTH 66°22' 04" WEST, departing said corrunon line and along said proposed South right of way line of Arapaho Road, a distance of 30.71 feet to a 5/8 inch iron rod set for the point of curvature a tangent curve to the right; THENCE, SOUTHWESTERLY, continuing along said line and the arc of said curve having a radius of 1,177.92 feet, a central angle of 4°03'26", a chord bearing South 68°23'47' West for 83.39 feet, for an arc distance of 83.41 to a 5/8 inch iron rod set in the corrunon West line said called 19.01 acre tract and East lines of said Addison Restaurant Park and said called 4.1525 acre tract; THENCE, NORTH 00°12'19" EAST (called SOUTH 00°49'37" WEST), along said corrunon line, a distance of 21.00 feet to the POINT OF BEGINNING; CONTAINING an area of 0.0256 acres or 1,114 square feet of land within the metes recited. All bearings are to the North Right of Way line of Centurion Way, called S 89°51'55" E, according to the final plat of Lot 3, Surveyor Addition, Addition, recorded in Vol. 77173, Page 135, Deed Records of Dallas County, Texas. A plat of even survey date herewith accompanies this description. I, Ayub R. Sandhu, a Regis Professional Land Surveyor, hereby certify that the legal description hereon and the accompanying plat represent an actual survey made on the ground under my supervision. 􀁾􀀴􀀻􀀨􀀮􀁾􀁊􀀯􀀭􀀯􀁱􀁺􀀭'If A ub R. Sandhu, R.P.L.S. Texas Registration No. 2910 Page 2 of 2 .. ;-􀁓􀁃􀁾􀀩􀀭􀁾􀀧􀀱􀁦􀀢􀀧􀀧􀀧-:::--"'"'1 􀀦􀁤􀁾􀀺􀁾􀁾􀀻􀀺􀀢􀀲􀀺􀀺􀀽􀁌___. __ _ t.___, r HERITAGE INN NUMBER i , XIII, ADDISON RESTAURANT' UMITED PARTNERSHIP PARK CALLED 4.1525 ACRES MARCH 9, 1988 JANUARY 24, 1997 VOL. 8a066, PG. 4219 VOL 97018, PG. 00073 D.R.D.C.T. D.R.D.C.T, 􀁾􀀺􀀺􀁟􀀺􀀺􀀺􀀺􀀺􀁤􀀧􀀺􀀺􀀺􀀢􀂷􀂷􀂷􀀠". .--...,....,.. LOT 1 BLOCK A BELTWOOD RESERVOIR AUGUST 2, 1989 VOL. 900 12, PG. 3386 D.R.D.C.T. EXHIBIT "B" CALLED 19.01 AC. CITY OF DAlLAS AUGUST 5, 1958 VOL 4942, PG. 629 D.R.D.C.T. •• DENOTES A FOUND POINT AS INDICATED DENOTES A 5/8" IRON ROD SET UNLESS OTHERWISE NOTED --PROPOSED RIGHT OF WAY LINE LINE TABLE ............. 􀁾.... LINE BEARING CAll.ED DIST CAlLED L1 N 80'11'36" E s aO"49'SO·W 10.B2' 10.57' L2 S 66"22'04" W 30.71' L3 N 00'12'19" E SOO"49'37"'W 21.00' 􀁾􀁛􀀨􀂻􀁜􀁗􀁉b1wa[(» 􀁾􀂩􀁊􀂩􀁊􀁾􀀠􀁾􀁬􀀡􀁊􀁬􀁷􀁡􀁷􀁾􀁷􀀠􀁢􀀱􀁣􀁀􀁾􀂮􀀠PARCEL 4 A PLAT OF A 0.0256 ACRE (1,114 SQ. FT.) TRACT OF LAND IN THE EDWARD COOK SURVEY ABSTRACT NO. 326 TOWN OF ADDISON DALLAS COUNTY, TE XAS o 25 50 , , 50 50 􀁾􀀠----GRAPHIC SCALE 1 INCH = 50 FT. 100 I CURVE TABLE CURVE DELTA RADIUS LENGTH CHORD Cl 4'22'46" 1270.00' 97.07' N 78'00'13" E -97.05' C2 4'03'26" 1177.92' 83.41' S 68'23'47" W -83.39' NOTES: ALL EASEMENTS SHOWN ARE TAKEN FROM THE PLATS INDICATED HEREON. THE SURVEYOR DID NOT ABSlRACT THE SUBJECT PROPERTY SO ALL EASEMENTS MAY NOT BE SHOWN. ALL BEARINGS ARE REFERENCIED TO THE NORTH RIGHT OF WAY LINE OF ClENTURION WAY, CALLED S 89'51'55" E, ACCORDING TO THE RNAL PLAT OF LOT 3, SURVEYOR ADDITION. RECORDED IN VOL 77173, PAGE 135, D.R.D.C.T. A LEGAL DESCRIPTION OF EVEN SURVEY DATE HEREWITH ACCOMPANIES THIS PLAT. Parcel 4 Field Note Description Arapaho Road Project Town of Addison Dallas County, Texas BEING a description of a 0.0256 acre (1,114 square foot) tract of land situated in the Edward Cook Survey, Abstract Number 326, Town of Addison, Dallas County, Texas, and being a portion of a called 19.01 acre tract of land conveyed to the City of Dallas as evidenced by deed dated August 5, 1958 and recorded in Volume 4942, Page 629 of the Deed Records of Dallas County, Texas, also being a portion of Lot 1, Block A of Beltwood Reservoir, an addition to the Town of Addison as evidenced by plat dated August 2, 1989 and recorded in Volume 90012, Page 3386 of said Deed Records, said 0.0256 acre tract of land being more particularly described by metes and bounds as follows; BEGINNING at a 5/8 inch iron rod found for the cornmon Northwest corner of said Lot 1, Southwest corner of a roadway easement dedicated by said plat of Beltwood Reservoir, and Southeast corner of a 60 foot wide right of way dedication as evidenced by the the plat of Addison Restaurant Park, an addition to the Town of Addison, dated March 9, 1988 and recorded in Volume 88066, Page 4219 of said Deed Records, said point also being in the East line of said Addison Restaurant Park, and the East line of a called 4.1525 acre tract conveyed to Heritage Inn Number XIII dated January 24, 1997 and recorded in Volume 97018, Page 00073 of said Deed Records; THENCE, NORTH 80°11'36" EAST (called SOUTH 80°49'50" WEST), departing said lines and along the cornmon North line of said Lot 1 and South line of said roadway easement, a distance of 10.82 feet (called 10.57 ) to a 5/8 inch iron rod set for the beginning of a tangent curve to the left; THENCE, NORTHEASTERLY, continuing along said cornmon line and along the arc of said curve having a radius of 1,270.00 feet, a central angle of 4"22'46", a chord bearing North 78"00'13" East for 97.05 feet, for an arc distance of 97.07 feet to a 5/8 inch iron rod set in the proposed South right of way line of Arapaho Road; Page 1 of 2 PARCEL 4 -ARAPAHO ROAD PROJECT THENCE, SOUTH 66 °22' 04" WEST, departing said common line and along said proposed South right of way line of Arapaho Road, a distance of 30.71 to a 5/8 inch iron rod set for the point of curvature of a tangent curve to the right; THENCE, SOUTHWESTERLY, continuing along said line and the arc of said curve having a radius of 1,177.92 feet, a central angle of 4°03'26", a chord bearing South 68°23'47' West for 83.39 feet, for an arc distance of 83.41 to a 5/8 inch iron rod set in the common West line of said called 19.01 acre tract and East lines of said Addison Restaurant Park and said called 4.1525 acre tract; THENCE, NORTH 00°12'19" EAST (called SOUTH 00°49'37" WEST), along said common line, a distance of 21.00 feet to the POINT OF BEGINNING; CONTAINING an area of 0.0256 acres or 1,114 square feet of land within the metes recited. All bearings are referenced to the North Right of Way line of Centurion Way, called S 89°51'55" E, according to the final plat of Lot 3, Surveyor Addition, recorded in Vol. 77173, Page 135, Deed Records of Dallas County, Texas. A plat of even survey date herewith accompanies this description. I, Ayub R. Sandhu, a Registered Professional Land Surveyor, hereby certify that the legal description hereon and the accompanying plat represent an actual survey made on the ground under my supervision. 􀁾􀁊􀁴􀁾J/-/Pl-/'IA ub R. Sandhu, R.P.L.S. Texas Registration No. 2910 Page 2 of 2 ---------UNE TABLE LINE BEARING CALLED DIST CALLED Ll N 80'11'36" E SSO·49·50"W 10.82' 10.57· L2 S 66'22'04" W 30.71' L3 N 00"12'19" E SOO'49'37"W 21.00' CURVE TABLE CURVE DELTA RADIUS LENGTH CHORD Cl 4'22'46" 1270.00' 97.07' N 78"00'13" E -97.05' C2 4"03'26" 1177.92' 83.41' S 68'23'47" W -83.39' 􀁾􀁛􀁑􀀩􀁗£1ffi[Q) 􀂫􀀻􀁀􀁀􀁾􀀠􀁾􀀡􀁬􀁊􀀩􀁉􀁒􀁬􀁗􀁾􀁗􀀠􀂣􀁣􀁾􀁾􀂮􀀠,,' EXHIBIT "B" 􀂷􀀭􀁾􀀮􀀭􀀭.' _.---' ..'---􀀮􀁾􀁾􀁾􀀠----􀁾􀀠.' -􀀭􀀭􀀭􀁾􀀠..􀁾􀀭􀀮􀀮􀀭􀀭􀁾􀀭􀀭􀁾􀀭.---------􀀬􀀮􀀬􀀮􀀮􀁾􀀢􀀢􀀢􀀢---FND. 5/S" IRON ROO ,,,,, P.O.s. L1 c.... ' o G", 􀂷􀀧􀂷􀁾􀀢􀀢􀁾􀁾􀀢􀀭� �􀂷􀁮􀀠􀀦􀀮􀀺􀁾􀁲􀁾􀁾􀁾􀁾􀁾􀁾􀁾􀁬􀀠-----))1 1--=!7./I ----y ,....'wm ." ••: I r HERITAGE INN NUMBER 􀁾􀁾􀀽􀀽􀁾􀁾􀀠'I XIII, ADDISON RESTAURANT 'I LIMITED PARTNERSHIP PARK CAllE D 4.1525 ACRE S MARCH 9, 1988 I JANUARY 24, 1997 VOL 88066, PG. 4219 I VOL 97018, PG. 00073 D.R.D.C.T. I D.R.D.C.T. I LOT 1 BLOCK A BELTWOOD RESERVOIR AUGUST 2, 1989 VOL 90012, PG. 3386 D.R.D.C.T. CAllE 0 19.01 AC. CITY OF DALLAS AUGUST 5, 1958 VOL 4942, PG. 629 D.R.D.C.T. NOTES: ALL EASEMENTS SHOWN ARE TAKEN FROM THE PLATS INDICATED HEREON. THE SURVEYOR DID NOT ABSTRACT THE SUBJECT PROPERTY SO ALL EASEMENTS MAY NOT BE SHOWN. ALL BEARINGS ARE REFERENCED TO THE NORTH RIGHT OF WAY UNE OF CENTURION WAY, CAllED S 89'51'55" E, ACCORDING TO THE FINAL PLAT OF LOT 3, SURVEYOR ADDITION, RECORDED IN VOL. 77173, PAGE 135, D.R.D.C.T. A LEGAL DESCRIPTION OF EVEN SURVEY DATE HEREWITH ACCOMPANIES THIS PLAT. PARCEL 4 A PLAT OF A 0.0256 ACRE (T,l14 SQ. FT.) TRACT OF LAND IN THE EDWARD COOK SURVEY ABSTRACT NO. 326 TOWN OF ADDISON DALLAS COUNTY, TE XAS o DENOTES A FOUND POINT AS INDICATED 50 o 25 50 100• DENOTES A 5/8" IRON ROD SET UNLESS OTHERWISE NOTED ---PROPOSED RIGHT OF WAY LINE GRAPHIC SCALE 1 INCH = 50 FT. IREQUEST FOR INFORMATION PROJECT No. Arapaho Phase III RFI # __-=-__ Date: July 26, 2004 􀀱􀀬􀀡􀁾􀁾􀀺􀀬􀀻􀀻􀀬􀁣􀁾􀀬􀁯􀁾􀀻􀁭􀁾􀀧􀁾􀁾􀁯􀁬􀀺􀁩􀀺􀁐􀀻􀀻􀀧􀀺••􀀻􀁮􀁾􀀻􀀺􀁾􀀺􀀠to 12) and the Paving Pfan and Profile (sheets 41 to 52) show the stations and curve Information for the centerline elllgnmen[ but does not provide Ie i! i PI,PC,PT, Etc. Iw" h'''''' cal,,,,,,,,d tho coordinate fot these points along the centetline based offthe existing coordinate given at centerline statfon 34+12.61. Ip"",.􀁾􀀬􀁯􀁶􀁩􀁤􀁥􀁬􀁨􀁥􀀠coordinate information tor the Centerline Hortizotttal Alignment, &0 that we can verify our calculations. Page 1 EVALUATION ASSOCIATES RIGHT OF WAY LAND RIGHTS ANALYSIS' APPRAISAL' ACQUISITION' SOLUfIONS j SUMMARY OF SALIENT FACfS AND CONCLUSIONS ARAPAHO ROAD PROJECf Property .Owner: City of Dallas Water Utilities Parcel No. 4 Valuation Conclusion: Whole Property (Land Only) 19.01 Acres@$9.00/SF $7,500,000 Proposed Acquisition 1,114 SF @$9.00/SF $ 10,026 Remainder Before Acquisition $7,489,974 Remainder After Acquisition $7,489,974 Loss in Value ofRetnainder After $ -0Determination ofCompensation: Permanent Right ofWay $ 10,026 Compensation for Improvements (None; road to be repaired and realigned by Town ofAddison) $ -0Landscaping (None -Replacement) $ -0Temporary Construction Easement $ 733 Total Compensation $ 10,859 Date ofAppraisal: October 5, 2002 Location: 4799 Belt Line Road, Town ofAddison, Texas Legal Description: Called 19.01 Acres City of Dallas, Town of Addison, Dallas County, Texas Land Size: Whole Property (per DCAD records) 19.01 Acres Road Right ofway Area 1,114 SF Temporary Construction Easement 1,163 SF Zoning: I -1 (Industrial) with SU -1 Special Use Permit Highest and Best Use: As ifVacant BEFORE: Commercial use As ifVacant AFTER: Commercial use 11615 Forest Central Drive' Suire 205 • Dallas, Texas 75243-3917 • (214) 553-1414 EVALUATION ASSOCIATES RIGHT OF WAY LAND RIGHTS ANALYSIS· APPRAISAL· ACQUISITION· SOLUTIONS October 5, 2002 Mr. Steve Chutchian, P.E. Assistant City Engineer Town of Addison 16801 Westgrove Addison, Texas 75001-9010 Re: ARAPAHO ROAD PROJECT -Parcel No.4 Property Owner: City of Dallas Water Utilities An appraisal of ai,114 SF proposed Permanent Road Right of Way acquisition (ROW), and 1,163 SF Temporary Construction Easement, out ofan approximate 19.01 Acre tract of land situated on the north side ofBelt Line Road, at the west intersection ofthe DART Rail line right ofway, and just west ofAddison Road, (known locally as the 4799 Belt Line Road). The parent tract is legally described as 19.01 Acres City of Dallas, Town of Addison, Dallas County, Texas, and is known as the City ofDallas Beltway Reservoir. Dear Mr. Chutchian: At your request, we have conducted the analysis and investigations necessary to derive the value of the whole property (Land Only) and proposed acquisition areas based on the economic conditions which prevailed on the current valuation date ofOctober 5, 2002. Itis understood that the function ofthe appraisal, and ofthis summary of data and analysis employed in that appraisal process, will be used as a basis for establishing just compensation due to the property owner concerning the intent of the Town of Addison to acquire the referenced right of way for the widening, realignment and improvement ofArapaho Road. This appraisal was prepared in accordance with valuation principles which conform with the State of Texas condemnation laws and subsequent legal precedents based on, but not limited to, State v Carpenter, 89 SW 2nd, 1936. Further, this report addresses appraisal guidelines of the International Right of Way Association, the Appraisal Institute, and is classified as a limited summary report format under the Uniform Standards ofProfessional Appraisal Practice (USP AP) promulgated by the Appraisal Foundation. The methods of valuation and reporting are also consistent with an acceptable process relevant to the nature of the whole property and the proposed acquisition area. All herein mentioned value estimates are market oriented and based on the principle of Value in Exchange rather than Value in Use to a specified owner. These value terms, along with other appraisal terminology, are defined in the addendum section ofthis report. Owner Contact The subject property was inspected from various points of reference on several dates from May 2001 to October 2002, with the date of our last inspection being October 5, 2002, also the _.j 11615 Forest Central Drive· Suite 205 • Dallas, Texas 75243-3917 • (214) 553-1414 Mr. Steve Chutchian October 5,2002 valuation date. The enclosed photographs were personally taken by the undersigned appraiser during the same time frame. Based on our research, the current owner has held title since the 1950s. There are no known contracts, offers for sale, or plans for redevelopment of the subject whole property. Based on a review ofengineering design and construction plans provided by the Town ofAddison, and an inspection ofthe subject whole property, after the acquisition the site should have the same access, and superior exposure, when compared with the before condition. Related analysis is described in more detail in the Analysis and Valuation ofthe Proposed Acquisition Section later in this report. It will also be explained how and why there is no loss ofmarketability and utility ofthe property after the acquisition. The appraisers have analyzed the subject property both before and after the proposed acquisition and found no diminution in value beyond the portion ofthe property within within the proposed right ofway, which is to be compensated. Subject Site Description According to investigation ofDallas County Plat Maps, field review by Evaluation Associates, and information provided by Town of Addison, the subject whole property fronts several hundred feet along the north side ofBelt Line Road. The generally rectangular shaped tract contains 19.01 acres. All public utilities are available to the subject property. Topographical features include generally even, yet sloping terrain, which falls toward the north. There were no noted or observed easements, encroachments or other special hazards that might The acquisition area is at the back of effect the marketability or utility ofthe subject parent the property, concentrated in the NWC tract. The subject site is larger than other commercial sites found within this market area. The site is currently used as part ofthe Beltway Reservoir for the City ofDallas Water Utilities. Open grassy areas surround the improvements. None of the improvements are situated within the proposed acquisition area. Analysis indicates the loss ofthe relatively small area of the land at the northeast corner ofthe property will not result in loss to the remainder property. Zoning Based on our review of the Town ofAddison Zoning Map, the subject whole property is zoned 1-1 (Industrial) with an SU-l (Special Use Permit) overlay. The subject site is used as a City ofDallas Water Utilities (water reservoir) facility. Most public works uses are permitted in most city zoning districts. Highest and Best Use The highest and best use is that use which will provide the greatest net return to the owner ofthe land within applicable physical, legal and financial market acceptance constraints. These criteria are usually considered and tested sequentially; i.e., a use may be financially feasible, but this is irrelevant ifit is physically impossible or legally prohibited. Highest and Best Use is defined in The Appraisal ofReal Estate, 12th Edition, published by the Appraisal Institute Institute as being: 2 Mr. Steve Chutchian October 5, 2002 "the reasonably probable and legal use ofvacant land or improved property, which isphysically possible, appropriately supporteri,jinancially feasible, andthat results in the highest value. " Physical factors include physical characteristics ofthe site such as shape, size, topography, ingress and egress. The subject property encompasses 19.01 Acres. The tract has adequate size, shape, ingress and egress. Visibility and exposure is to Belt Line Road, a major east-west thoroughfare. All utility services are available in the site. The physical influences indicate the subject site could support a variety of uses. The legal limits to Highest and Best Use in this case are determined by the zoning ordinance. As previously discussed, the subject property is designated for industrial uses. Analysis ofthe physical and legal factors suggest that the highest and best use of the subject whole property is for commercial uses. All other uses are eliminated as the legal constraints prohibit such uses. An analysis offinancial factors would include determining uses which produce a market accepted rate ofreturn based onthe risks involved. The area surrounding the subject property is developed as a variety ofuses -restaurants, professional offices, motels/hotels. Highest and Best Use Conclnsion (As IfVacant) The highest and best use of the whole subject property is for a commercial use, discounting the current public works use (which is most likely to continue). Valuation Approach There were many sales ofsimilarly zoned land available for consideration. The sales fell into three categories; industrial uses, hotel use, smaller pad sites, such as for fast food restaurants. Most of the sales ofland for straight run ofthe mill industrial uses were inferior to the subject property, due to location. Of the available database, the four sales included in this report were the same sales suggested for consideration by the City ofDallas Property Management Department. Sale Nos. I and 4 were selected for comparison by Evaluation Associates, prior to receiving the four sales from the property owner. Comparative explanation of the four sales is presented later in the report. Analysis of the four sales indicates that the City ofDallas public works use is unaffected The existing City of Dollas public works use by the proposed acquisition. Since it is not will be unuffected by thepraposed acquisition. necessary to value these unaffected improvements, only the value of the land (subject site) has been estimated. The most realistic approach to value vacant land is through the direct comparison ofland sales. Several sale transactions were analyzed and adjustments were made to compensate for differing influences on value. A detailed summary of those sales considered most representative of the current market, and the conclusions derived from our analysis, have been included in this report. 3 Mr. Steve Chutchian October 5, 2002 Based on information supplied and investigations made by Evaluation Associates personnel, it appears that after the completion ofthe thoroughfare widening and improvement project, there should be no negative impact on the remainder resulting from the proposed acquisition. Access and visibility should be similar both before and after the proposed acquisition. The site is not adversely affected by the proposed acquisition and the subject property is valued on a land only basis. Additional detail and discussion in support ofthis conclusion can be found in the Analysis and Valuation ofthe Proposed Acquisition Area section. Conclusion Our research has included an investigation ofmarket and neighborhood trends which are believed to influence the value of the subject whole property (Land Only). Specific attention and consideration was given to the value ofthe subject property, both before and after the proposed right ofway acquisition area. Based upon our analyses and interpretation ofthe data, the Market Value ofthe proposed acquisition area as ofOctober 5, 2002, is estimated to be: TEN THOUSAND EIGHT HUNDRED FIFTY NINE DOLLARS ($10,859) The following narrative report sets forth a description ofthe subject property along with maps, photographs and other exhibits. The report has been prepared in accordance with the Code of Ethics and Professional Conduct promulgated by the Appraisal Institute and the International Right ofWay Association. The report is subject to the Assumptions and Limiting Conditions included in the Addendum. This report was prepared by James W. Cullar, Jr. and Richard N. Baker, both representing the firm Evaluation Associates, and deriving the analysis and value estimate conclusion. The undersigned assumes responsibility for any required testimony. Ifyou have any questions, please call us. Respectfully submitted, EVALUATION ASSOCIATES 􀁾􀁜􀁊􀀮􀁾􀁜􀁽. . Cullar, Jr., SRP A, SRA, 􀁓􀁾􀀠 4 PHOTOGRAPHS OF SUBJECT PROPERTY Aerial photograph ofthe northern portion of the subject property 5 SUBJECT PROPERTY 1 . I . ,, 6 APPRAffiALPROCEDURE . I The estimation of Market Value of a property that is being appraised is accomplished by the comparison and analysis ofas many techniques as are appropriate. Three approaches are generally used to produce value indications for improved properties while only one (the Sales Comparison Approach) is normally employed in analyzing an unimproved property such as the subject site. COST APPROACH The value indication by this approach is accomplished by determining the Reproduction (or Replacement) Cost New ofthe improvements less accrued depreciation from all causes to which the value ofthe land (estimated by comparison) is added. SALES COMPARISON APPROACH The comparisonofsimilar properties that have sold in the marketplace is used to produce an indication of value. The comparison may either be direct or indirect by commonly accepted rurits or elements ofcomparison. INCOME APPROACH This approach to value is applicable to properties capable of producing a net income stream. The net income is translated into a value indication through capitalization. The strengths and weaknesses of each approach employed are weighed in the fina\ analysis. The approach or approaches offering the greatest quantity and quality ofsupporting dataare typica1ly given most consideration and the fina\ value is then correlated. In this appraisal situation, wherein only the land valuation was required, only the Sales Comparison Approach was employed. 7 LAND VALUATION A reliable value indication for the subject land is provided by an analysis and comparison ofother tracts that have sold in the marketplace. Many factors influence the price ofvacant land. The selected sales are analyzed with respect to real property rights conveyed, financing terms, conditions ofsale, market conditions, location and physical characteristics. • A transaction price is always predicated on the real property interest conveyed. The revenue generating potential of a property can be limited by the terms of existing leases. • The purchase price can be influenced by financing terms. Non-market financing terms must be considered to determine the cash equivalent price. • Adjustments for conditions of sale usually reflect the motivations of the buyer(s) and the seller(s). Circumstances such as assemblage sales are considered in this analysis. • Market conditions sometimes change over time and past sales must be analyzed to determine the direction and velocity ofchange between the sale date and the appraisal date. • The analysis of location includes the comparison of trade or market area, proximity and accessibility to major thoroughfares and exposure and accessibility to traffic. • The analysis of physical characteristics would include zoning, topography, frontage, depth, shape, proximity to public utilities and other factors influencing the utility or use. 8 COMPETITIVE LAND SALE Mapsco # 14-C SWC ofEd win Lewis Drive and Quorum Drive, Addison Daryl N. Snadon Addison SHS, LLC Quorum Centre Addition , i I Land Sale No, t Location: Grantor: Grantee: Legal Description: Date ofSale: Site Data: Size: Zoning: Utilities: Frontage: Shape: Topography: Easements: Improvements: , Intended Use: i Consideration: Financing: Comments: January 5, 2001 VolumelPage: 2001004/4624 4.54 Acres Commercial All available Edwin Lewis Drive and Quorum Drive Functional Level None reported detrimental None Limited service hotel $2,700,000 or $13.65/SF All cash to seller Hotel is under construction, 9 COMPETITIVE LAND SALE j Land Sale No. 2 Mapsco# 4-P Location: Els ofMidway Road at Commander Drive, Carrollton Grantor: Maylar, LP (Stanley Hickman) Grantee: Sixteen Thousand Five Hundred, Inc. Jerry Allan King. President) Legal Description: Part ofLot I, Blk A, Beltwood North-Airport Addn, Addison Date ofSale: Jaouary 31, 2000 VolumelPage: 200096/2365 Site Data: Size: 1.341 Acres Zoning: 1-3 (Industrial) Utilities: All available Frontage: Midway Road Shape: Functional Topography: Level Easements: None noted Improvements: None Intended Use: Office/commercial fil.cility for King Aerospace Consideration: $470,000 or $8.0S/SF Financing: $303,550 Due 1/28/2001, Texas Capital Bank Comments: Property remains vacaot as ofthe date ofappraisal. 10 COMPETITIVE LAND SALE . j ; :] ....i Land Sale No.3 Location: Grantor: Grantee: Legal Description: Date ofSale: Site Data: Size: Zoning: Utilities: Frontage: Shape: Topography: Easements: Improvements: Intended Use: Consideration: Financing: Comments: Mapsco# 14-A Nls ofBelt Line Road, 15 ft E. ofBusiness Avenue, Addison BusinesS/Beltline, LP Burger King Corporation Lot A, Block 3, Beltline Marsh Business Park October I, 1999 VolumeIPage: 99192/6903 1.571 Acres Commercial All available J58 feet on Belt Line Road Functional Level None reported detrimental None Investment $785,000 or $1 L47/SF All cash to seller Property is vacant. 11 i , ) COMPETITIVE LAND SALE Land Sale No. 4 Location: Grantor: Grantee: Legal Description: Date of Sale: Site Data: Size: Zoning: Utilities: Frontage: Shape: Topography: Easements: Improvements: Intended Use: Consideration: Financing: Comments: Mapsco # 14-A Wls of Business Avenue, approximately 255 ft N. ofBelt line Road, also fronts 34 ft on Beltline Road and 156 ft on E/s ofMarsh Lane, Addison BeltlineiMarsh JV Budget Suites of America Part ofBeltline-Marsn Addition May 13, 1999 VolumelPage: 99093/38 6,552 Acres 1, Industrial District All available 156 ft on Marsn; 250 It on Business Functional Level None reported detrimental None Extended stay hotel -300 units $2,283,232 or $8.00/SF All cash to seller Hotel nas been constructed. 12 LAND SALES MAP . ) I I 13 LAND VALUATION SUMMARY The subject property is located in Addison. The area is largely developed, thus other competing neighborhoods were researched for sales data. The following sales are very similar to the subject whole property in many respects, however there are some differences. Such differences make it necessary to apply adjustments to the sale properties in order to reconcile the affect of these features on Market Value. RECAPITULATION OF SALES DATA 1 1/01 4.54 $13.65 2 1/00 U41 1-3 $8.05 3 10/99 1.571 c 1.47 The above table capsulizes the data presented on the preceding pages. The chart that follows after this section, uses the sales price persquare foot as a unit ofcomparison. The sales are analyzed and compared with the subject tract for similarities and differences. The elements considered to be inferior to the subject property are adjusted upward while the superior qualities of the competitive sales are adjusted downward. Adjustments have been based on the appraisers observations of physically and economically oriented differences in each competitive sale. The amount of adjustment is determined by the extent to which the sale varies from the subject property. The adjustment process compensates for the difference between the competitive sale and subject and provides an indication of value for the subject property. ANALYSIS AND CORRELATION The preceding summary chart displays four land sales for comparison to the subject whole property/parent tract. A reliable value indication for the subject land is provided by an analysis and comparison to other vacant land that has recently sold in the marketplace. This market derived sales data has been used to abstract and analyze property features that affect sales price. Rights conveyed, financing terms, conditions of sale, location, market conditions and physical characteristics were factors considered to determine which influences price in the subject market area. 14 taml Valuation Summary (continued) Rights Conveyed The market value fee simple interest in the subject whole property is being sought in this analysis. During the sales verification process, it was determined that there were no existing leases on any ofthe sale properties, thus indicating that fee simple interest was transferred in each transaction. Therefore, no adjustment is applied to any ofthe sales for this factor. Financing Terms The adjustment for financing considers the effect that seller financing has on the purchase price of a property. Below market interest rates are typically reflected in higher prices per unit. The adjustment for financing is estimated by comparing the financing terms with the terms readily available, as of the sale date, from disinterested parties. All ofthe sales were reported as cash transactions, thus no adjustment was appropriate for financing terms. Conditions of Sale Adjustments for conditions ofsale usually reflect the motivations of the buyer and seller or any unusual concessions by either party to the transaction. The sales were purchased for owner use and/or speculative investment purposes. No adjustment for this factor is applied. Market Conditions The sales occurred over an approximate 3 year period prior to the valuation date (October 2002). The sales did not provide substantive evidence on which to base a time/market conditions adjustment. Subsequent to September II, 2001, the several sectors ofthe real estate market have trended back toward the sales prices of the late 1990s. Sales in the subject market sector dated 1999 are still relevant. There is no supporting evidence to indicate property values have continued to appreciate since Sale No. 1 transpired. It is known that hotel occupancy rates and occupancy have declined significantly within the past year. The short and long term impact ofSeptember 11, 200 I will have on land values is not known at this time. Ifthe current trend continues indefinitely, the impact is likely to be a notable decline in the number ofland sale transactions, and a flattening in land values. Until there is more market data to analyze, the impact cannot be better quantified, and there is no time adjustment applied to any ofthe sales. 15 Laml Valuation Summary (continued) Location The influence oflocation is a composite ofnumerous attributes such as access, exposure, visibility, quality and consistency ofsurrounding development, proximity to major roadways and location within the perceived growth pattern as evidenced by existing and planned development. • Sale No, 1 does not front Beltline Road, but is prominently situated near the new Addison Circle near several mid-rise office buildings, This location is rated similar to the subject property. • Sale No.2 fronts ofMidway Road, a major traffic artery, but, the location is rated inferior. A 20% downward adjustment was made. • Sale NO.3 fronts Beltline Road at the I>.'EC ofBusiness Avenue. It is a very visible Burger King Restaurant corner pad site. • Sale NO.4 does not front Beltline Road, but is a well located fronting Midway Road and Business Avenue,just 255 feet north ofBeltline. A lesser downward adjustment ofl0% was made. Land uses fronting Beltline are typically those requiring exposure to high traffic counts. Such uses include restaurants, retail and the like. These sales are rated similar to the subject property in terms oflocation and no adjustment is applied. Physical Characteristics The analysis ofphysical characteristics considers such factors as shape, depth, frontage, zoning, topography and the availability of public utility services, The shape ofthe subject property is generally rectangular. It has average ingress/egress, and access to the site is considered good. All ofthe sale properties compare favorably with the subject with regard to physical features. , j Size The market for real estate is comparable to that for other commodities in that price is sometimes influenced by volume (quantity or scarcity). It can generally be demonstrated that as volume decreases, the price per unit may rise. In contrast, unit price may decline when volume increases. Ifall other attributes are equal, the site may sell for more on a unit basis than a larger one due to reduced holding costs and less risk, ifthe motivation ofthe buyer ofthe land is to sell offin smaller 16 I,llnd Valuation Summary (continue(Q parcels. It is also recognized that larger parcels which have potential for more and variable uses, even though additional development and an extended period prior to sale, may be more desirable to some buyers. This could be attributable to the larger tract of land being adaptable to larger scale uses. Larger tracts may sometimes sell for a premium, or for a similar unit price as a smaller tract. Therefore, in real estate, the aspect ofquantity discounting should not be assumed because it is not an economic principle, but rather an inconsistent market reaction. It should be supported bymarkettransactions ifavailable. The subject site contains approximately 19,01 acres, The sales range in size from 1.341 to 6.552 acres. A comparison ofthe sale properties did support a size adjustment, The following exhibit presents a summary reconciliation ofthe adjustment process, SP/SF $13.65 $8,05 $11.47 $8,00 Rights Conveyed Pcc Simple Fcc simple Fee simple Fee simple Financing Cash Cash Cash Cash Conditions ofSale Market Market Market Market Market Conditions Si milar Similar Similar Similar Location Equivalent Inferior +20% Equivalent Inferior +10% Size 4,54 Ae Holel Site -20% 1.341 Ae Dusiness Office Pad Site -20% 1.571 Ac Restaurant Pad Site -20% 6.552 Ae Hotel Site -20% Net Adjustment -20% -0-20% -10"/0 The sale prices ranged from $8,00/SF to $13,65/SF before the analysis. After the analysis, the adjusted values ranged between $7.20/SF and $1 0.92/SF. After adjustments were made to the sale 17 IAml Valuation Summary (continueli) properties, this approach produced an acceptably narrow range of indicators. The indications provided by Sale Nos. 1 and 4 seem to be the most relevant, in that they were the largest ofthe four sale properties. They were the most heavily adjusted, but the indications provide the best representation ofthe value ofthe ofthe subject property. In view ofthese indicators, the Market Value ofthe subject land is estimated to be based on S9.00/SF, calculated as follows: 19.01 Acres x 43,560 SF = 828,075 SF Rd 828,075 SF x S9.00/SF =$7,452,680 Rounded to: $7,500,000 18 CORRELA TION AND CONCLUSION The subject property is valued as an unimproved tract ofland, as the existing improvements are unaffected by the proposed acquisition. No consideration has been given to the fact that the subject property is improved as a water reservoir, nor that the related public works improvements (structures) would require removal prior to the realization ofthe stated estimated value ofthe land. This is justified, and is consistent with the valuation approach ofother improved properties along the same project. Therefore it was not necessary to separately evaluate any buildings. There was no construction cost or accrued deprecation to analyze. In this appraisal situation, the Cost Approach was not considered applicable. Also, since there is no trend toward land leases in the area and there is no existing or feasible activity to generate reliable and consistent rental or lease income attributable to the land, the Income Approach to estimate value was not utilized. The Sales Comparison Approach Approach analyzes trends of buyers and sellers from the analysis of competitive land sales. Rights conveyed, financing terms. conditions of sale, location, market conditions and physical characteristics were factors analyzed to determine the influence on price in this market area. Each sale was inspected, analyzed and compared with the subject property. Adjustments were made to each to reconcile differences in locational attributes, changing market conditions and physical diffe.rences (size) The Sales Comparison Approach produced the only reliable and supportable indication ofmarket value for the subject property. Therefore, the Market Value of the fee simple interest in the subject whole property (Land Only), as ofOctober 5, 2002, is estimated to be: SEVEN MILLION FIVE HUNDRED THOUSAND DOLLARS $7,500,000 19 􀁾􀀠[g" );> 􀁾􀀠;e i'i:';0 if N o -􀀭􀀮􀁾􀁾􀀠􀁾􀀮􀀠􀁾􀀠􀁾􀀢􀀢􀀺􀀬􀀺􀀻􀀠􀀮􀀺􀁲􀀮􀀮􀀺􀀧􀁴􀀧􀁾􀀠'i:, \91:>6.0 " 1,9,,1.. I'G. 6"-" 􀁾0,1\.\),0.1• CALLEC 19.01 AC. CITY OF DALLAS AUGUST 5, 1958 VOL 41lf2, PG. 629 LOT 1 O.R.O.C.T. aLOCK A aELTWOOO RESERVOIR AUGUS T 2, 1989 VOL 90012, PG, 3386 C.R,O.C.T, • OENO'lES A 􀁦􀁏􀁕􀁎􀁾􀀠POINT AS INOICA'lEO • OENO'lES A 5/S" IRON ROO SET UNLESS OTHERWISE NOTED ---PROPOSED RIGHT OF WAY UNE UNE TAilLE WWiY£Illl[li) 􀂩􀁀􀁀􀁾􀀠􀁾􀀡􀁩􀀡􀁊􀁉􀁩􀁬􀀮􀀡􀁗􀀨� �􀀧􀁜􀁦􀀠􀂣􀁾􀁾􀀱􀀧􀁬􀀻􀁾􀀠PARCEL 4 A PLAT OF A 0.0256 ACRE (1.114 SQ. FT.) 'TRACT OF l.AND IN 'THE EDWARD COOK SURVEY ? ASS TRACT NO. 326 TOWN OF ADDISON v DALLAS COUNTY. TEXAS 50 0 25 50 10010-=-_ --1 ; GRAPHIC SCALE 1 INCH = 50 FT. t:ll ;1:1 3: > Z l"J 􀁾􀀠􀁾􀀠> t;! ::; > 0< ;1:1 o::; 􀁾􀀠§ 􀁾􀀠􀁾􀀠􀁾􀀠 􀁾􀀠􀁾􀀠 _r,"" , EXHIBIT "B". 􀁾􀀠􀁾􀀠􀁾􀀠s , UNE aEARING. CAlLED OIST CAW!D L1 N 80'11'36" E, sw·"g'so"w 10,82' 10.57' l2 S 66'22'04"' wo. 30.7" L3 N 00'12'19-E" SOO+4!1:',}7"'1_..... ........ ....... ,--21.00' -l LEGAL DESCRIPTION Parcel 4 Field Note Description Arapaho Road Project Town of Addison Dallas County, Texas BEING a description of a 0.0256 acre (1,114 square foot) tract of land situated in the Edward Cook Survey, Abstract Number 326, Town of Addison, Dallas County, Texas, and being a portion of a called 19.01 acre tract of land conveyed to the City of Dallas as evidenced by deed dated August 5, 1958 and recorded in Volume 4942, Page 629 of the Deed Records of Dallas County, Texas, also being a portion Lot 1, Block A of Beltwood Reservoir, an addition to the Town of Addison as evidenced by plat dated August 2, 1989 and recorded in Volume 90012, Page 3386 of said Deed Records, said 0.0256 acre tract of land being more particularly described by metes and bounds as follows; BEGINNING at a 5/8 inch iron rod found for the common Northwest corner of said Lot 1, Southwest corner of a roadway easement dedicated by said plat of Beltwood Reservoir, and Southeast corner of a 60 foot wide right of way dedication as evidenced by the plat of Addison Restaurant Park, an addition to the Town of Addison, dated March 9, 1988 and recorded in Volume 88066, Page 4219 of said Deed Records, said point also being in the East line of said Addison Restaurant Park, and the East line of a called 4.1525 acre tract conveyed to Heritage Inn Number XIII dated January 24, 1997 and recorded in Volume 97018, Page 00073 of said Deed Records; THENCE, NORTH 80°11' 36" EAST (called SOUTH 80°49' 50" WEST), departing said lines and along the common North line of said Lot 1 and South line of said roadway easement, a distance of 10.82 feet (called 10.57 feet) to a 5/8 inch iron rod set for the beginning of a tangent curve to the left; THENCE, NORTHEASTERLY, continuing along said common line and along the arc of said curve having a radius of 1,270.00 feet, a central angle of 4°22' 46", a chord bearing North 78°00' 13" East for 97.05 feet, for an arc distance of 97.07 feet to a 5/8 inch iron rod set in the proposed South right of way line of Arapaho Road; 21 LEGAL DESCRIPTION PARCEL 4 -ARAPAHO ROAD PROJECT THENCE, SOUTH 66·22'04" WEST, departing said common line and along said proposed South right of way line of Arapaho Road, a distance of 30.71 feet to a 5/8 inch iron rod set for the point of curvature of a tangent curve to the right; THENCE, SOUTHWESTERLY, continuing along said line and the arc of said curve.having a radius of 1,177.92 feet, a central angle of 4·03'26", a chord bearing South 68"23'47' West for 83.39 feet, for an arc distance of 83.41 to a 5/8 inch iron rod set in the common West line of said called 19.01 acre tract and East lines of said Addison Restaurant Park and said called 4.1525 acre tract; THENCE, NORTH 00·12' 19" EAST (called SOUTH 00·49' 37" WEST), along said common line, a distance of 21.00 feet to the POINT OF BEGINNING; CONTAINING an· area of 0.0256 acres or 1,114 square feet of land within the metes recited. All bearings are referenced to the North Right of Way line of Centurion Way, called S 89"51'55" E, according to the final plat of Lot 3, Surveyor Addition, recorded in Vol. 77173, Page 135, Deed Records of Dallas County, Texas. A plat of even survey date herewith accompanies this description. I, Ayub R. Sandhu, a Registered Professional Land Surveyor, hereby certify that the legal description hereon and the accompanying plat represent an actual survey made on the ground under my supervision. 􀁾􀁾􀁊􀁴􀀠􀁾􀁉􀁉􀀭􀀯􀀮􀀻􀀨􀀭􀁩􀁲 Ay b R. Sandhu, R.P.L.S. Texas Registration No. 2910 22 c 􀁾'" 5-. 1i > 􀁾􀀠􀁾􀀠􀁾􀀠lr ;; 􀁾􀀠tv W UNE TABLEEXHISIT "s" CAillD CAu.EDDISTUNE BEARING􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀻􀀺􀀺􀁾􀁾::=----------􀁾􀀠., -SOO'49'37"WLl S 00'12'19" W 21.00'G P. 􀁾􀀠􀁾􀀠! N 66"22'D4" E 3D.71"L2 --􀀧􀁉􀁾􀀧􀁾􀀠lD.OD·S 23'37'S6" EL3 30.71'L4 S 66'22'04" W -􀁾􀁾􀀬􀀬􀁰􀁾..t;. LS N 00'12'19" E SOO'49'37"W 10.62' CURVE TABLE CURVE DELTA RADIUS I LENGlH CHORD ..,"';;';",,,0 1'.0,,0􀀢􀀢􀁒􀁜􀁾􀁜􀀳􀁵􀀺􀀮􀀠􀁒􀀮􀁏􀀮􀁾􀂷􀀩􀀬􀀬􀁾􀀠< 5 \95S Cl I 4'03'26" I 1177.92' I 83.41"1 N 68'23'47" E 83.39' l"l􀁾􀁉􀁬􀁇􀁉􀁬􀁓􀀠" 629 C2 4'13'SO" 1187.92' I 87.71" S 68'28'S9" W -87.69''10\.. .,,42, 􀀿􀁾􀀮􀀠􀁾􀀠\l.R.O.C," "0 o :;.:l 􀁾􀀠:;.:l 􀁾􀂩􀀱􀁬􀁗&1Rl© 􀁾􀁀􀁀􀁾􀀠􀂮􀀨􀁬􀁊􀀩􀁉􀁒􀁬􀁗􀁾􀀢􀁜􀁦􀀠-< 􀀦􀀽􀁾􀀺􀀿􀁬􀂮􀀠C"l o Z [fJ.., CALLED 19.01 AC. ::0 CITY OF-DALLAS c AUGUSTJ5;.'.1958·,·" C"l VOL 4942;-: PG;: 629 􀁾􀀠'. ::!LOT 1 D.R.O.C.T. BLOCK A o BELTWOOD RESERVOIR Z AUGUST 2. 1989 l?1 VOL. 9001 2. PG. 3386 􀁾􀀠D.R.D.C.T. [fJ l?1 􀁾􀀠PARCEL 4-TE l?1 A PLAT OF A ..,0.0267 ACRE (1,163 SQ. FT.)􀁾􀀠􀁾􀀮􀁾􀁾􀁾•..tf!J:""'..... Z TRACT OF LAND􀀬􀁾􀁾􀀠Or: )" 􀀺􀀻􀀺􀀺􀀧􀀺􀀧􀁾􀀧􀀺􀀢Ij)V"';-"-􀁾􀀮􀁲􀁩..t€...''j-·.. ;. IN THE EDWARD COOK SURVEY ASS TRACT NO. 326􀀱􀁐􀀨􀀬􀁾...i/S "* 􀀻􀀻􀁾􀁴􀀼􀀺􀁾􀀨􀁾􀁨􀀠TOWN OF ADDISONIG Ayus"fi:"SANi.i;jj *' DALLAS COUNTY, TEXAS • DENOTES A FOUNO POINT AS INDICATED ,t()....::0...:;..........::.... \I! DENOTES A 5/S-IRON ROD SET UNLESS 􀀺􀁴􀀭􀀮􀁾􀀨􀀧􀀢􀀻􀂷􀀮􀁾􀁏􀀮􀀼􀀧..9iO􀁯􀀭􀁂􀀭􀀭􀁾􀀡􀀻􀁙􀀯􀀠50 0 25 50 100 OlHERWISE NOTED . 􀀱􀀬􀂷􀂷􀂷􀀮􀁾􀁓􀁓􀁾..··-.!.. '0;,/____ " I --:;:;,--PROPOSED RIGHT OF WAY UNE 􀁾􀀴􀁾􀁾􀀭􀁾􀁾􀀠 GRAPHIC SCALE 􀀷􀁾􀀻􀁚􀁅􀀶􀀩􀀠1 INCH = 50 FT. LEGAL DESCRIPTION Parcel 4-TE Field Note Description Arapaho Road Project Town of Addison Dallas County, Texas BEING a description of a 0.0267 acre (1,163 square foot) tract of land situated in the Edward Cook Survey, Abstract Number 326, Town of Addison, Dallas County, Texas, and being a portion of a called 19.01 acre tract of land conveyed to the City of Dallas as evidenced by deed dated August 5, 1958 and recorded in Volume 4942, Page 629 of the Deed Records of Dallas County, T.exas, also being a portion of Lot I, Block A of BelblOod Reservoir, an addition to the Town of Addison as evidenced by plat dated August 2, ·1989 and recorded in Volume 90012, Page 3386 of said Deed Records, said 0.0267 acre tract of land being more particularly described by metes and bounds as follows; COMMENCING at the common Northwest corner of said Lot I, Southwest corner of a roadway easement dedicated by said plat of Beltwood Reservoir, and Southeast corner of a 60 foot wide right of way dedication as evidenced by the plat of Addison Restaurant Park, an addition to the Town of Addison, dated March 9, 1988 and recorded in Volume 88066, Page 4219 of said Deed Records, said point alsO being in the East line of said Addison Restaurant Park, and the East line of a called 4.1525 acre tract conveyed to Heritage Inn Number XIII dated January 24, 1997 and recorded in Volume 97018, Page 00073 of said Deed Records; THENCE, NORTH 00"12'19H EAST (called SOUTH 00"49'37# WEST" along the common West line of said called 19.01 acre tract and East lines of said Addison Restaurant Park and said called 4.1525 acre tract, a distance of 21.00 to a point in a curve of the proposed. South Right of Way line of Arapaho Road for the Northwest corner and POINT OF BEGINNING of the herein described tract; THENCE, NORTHEASTERLY, departing said common line and along said proposed South Right of Way line of Arapaho Road and along said curve to the left, having a radius of 1,177.92 feet, a central angle of 4"03'26H, a chord bearing North·68"23'47' East for 83.39 83.39 feet, for an arc distance of 83.41 feet to the point of tangency of said curve; THENCE, NORTH 66"22'04H EAST, continuing along said proposed South Right of Way line of Arapaho Road, a distance of 30.71 feet to a point for corner in the South line of said roadway easement; 24 LEGAL DESCRIPTION PARCEL 4-TE -ARAPAHO ROAD PROJECT THENCE, SOUTH 23"37'56" EAST, departing said line, a distance of 10.00 feet to a point for corner; THENCE, SOUTH 66"22' 04" WEST, a distance of 30.71 feet to the point of curvature of a tangent curve to the right; THENCE, SOUTWESTERLY, along the arc of said curve to the right having a radius of 1,187.92, a central angle of 04 0 13' 50", a chord bearing South 68°28' 59" West for 87.69 , for an arc 􀁾􀁩􀁳􀁴􀁡􀁮􀁣􀁥􀀠of 87.71 feet to a point for corner in the common West line of said called 19.01 acre tract and East lines of said Addison Restaurant Park and said called 4.1525 acre tract; THENCE, NORTH 00°12'19" EAST (called SOUTH 00 0 49' 37" WEST), along said common line, a distance of 10.62 feet to the POINT OF BEGINNING; CONTAINING an area of 0.0267 acres or 1,.163 square of land within the metes recited. All bearings are referenced to the North Right of Way line of Centurion Way, called S 89"51' E, according to the final platn of Lot 3, Surveyor Addition, Addition, recorded in Vol. 77173, Page 135, Deed Records of Dallas County, Texas. A plat of even survey date herewith accompanies this description. I, Ayub R. Sandhu, a Registered Professional Land Surveyor, hereby certify that the legal description hereon and the accompanying plat represent an actual survey made on the ground under my supervision. 􀁾K 􀁾􀀷􀀭􀀺􀁚􀁲􀁯􀀭􀁯􀀯 A b R. Sandhu, R.P.L.S. Texas Registration No. 2910 25 ANALYSIS AND VALUATION OF PROPOSED ACQIDSmON AREA The Proposed Acquisition According to the attached surveyor's field notes, the proposed acquisition area contains 1,114 SF for the new alignment and construction ofArapaho Road. The location, dimensions and shape of the proposed acquisition area are shown on the Acquisition Map exhibit page(s). The proposed acquisition area is located at the rear (northern) portion ofthe subject parent tract. The acquisition will reduce the subject parent tract infinitesimally, or approximately .01 %. The area to be acquired is at the back of the property, at the most remote area of the parent tract. No improvements will be affected. There is fencing in this are, and the assumption is made that the Town of Addison wilI relocate the fencing, plus provide interim temporary fencing during the thoroughfare construction term. Property rights being appraised in this acquisition area are fee simple. Considering the Highest and Best Use ofthe proposed acquisition area, the standard sequential tests; physically possible, legally permissible, economically feasible, and maximally productive were analyzed. Because ofthe unique size and shape characteristics ofthe proposed acquisition area it has no potential for independent utility separate from the parent tract. Therefore, the highest and best use of the proposed acquisition area is as a part of the whole parent tract. Review ofthe accompanying photographs confirms that the proposed acquisition route does not affect the remainder property. The land value is based on $9.00 SF which is supported by the sales data and analysis presented on the preceding pages ofthis report. Landscape Within proposed ROW acquisition area, there is some grass. The assumption is made that the Town of Addison will make some acceptable arrangement with the City ofDallas to replace the disturbed grass. Under this assumption, i.e., that there will be no requirement on the property owner to replace landscape, nor to meet minimum City requirements for landscape after after the new road construction. Therefore, appraisal analysis indicates that there is no requirement to isolate the contributory value offound grass turf, and no compensation for landscape has been included. Therefore, taking all factors into consideration, the value ofthe proposed acquisition area can be calculated as follows: Arapaho Road ROW 1,114 SF x $9.00/SF = $10,026 According to the attached surveyor's field notes, there is a proposed temporary construction easement of!, 163 SF for the proposed road construction. The TCE is located adjacent to, and on 26 Analysis and Valuation ofProposed Acquisition Area (Continued) the south side of, the proposed ROW acquisition area. The rights sought are temporary in nature. Topography ofthe proposed easement area is generally level. The net affect of the temporary construction easement will not permanently reduce the land size of the subject property. The purpose of the proposed temporary construction easement is to provide working area for the ingress, egress, and placement of construction machinery and excavation materials during the construction phase ofthis project. The period requested for the temporary construction easement is 1 year. The value ofthe easement is calculated as follows: Temporary Construction Easement (1,163 SF x $9.00/SF) = $1,467 Multiplied by the market competitive annual rate ofreturn of7% $ 733 Value of the Remainder Before the Acquisition (LAND ONLY) The value ofthe Remainder Before the Acquisition is simply the mathematical difference between the value ofthe whole property less the value ofthe Proposed Acquisition Area. Therefore, the value ofthe Remainder Before the Acquisition can be calculated as follows: Whole Property Value (Land only) $7,500,000 Less: Value ofProposed Acquisition Area $ 10,026 Value ofthe Remainder Before the Acquisition $7,489,974 Value of the Remainder After the Acquisition As noted, the proposed acquisition area will be used for the widening and realignment ofArapaho Road. After the acquisition, the remaining site will continue to be an interior tract having similar accessibility and increased visibility. The remaining site will have similar highest and best use as before the acquisition. In developing the analysis ofthe Remainder Highest and Best Use and estimating the value after , the acquisition, several questions were formulated and answered through the combined sources of: analysis ofthe Right ofWay Acquisition Map, the engineering design and construction plans, the Town of Addison Department of Engineering, and consultation with locally knowledgeable consultants. consultants. The answers to specific questions, combined with the analysis ofthe undersigned land rights appraiser, were subsequently applied to market reaction observations and data introduced by the appraiser to finalize remainder impact conclusions. Following are some of the considerations in the valuation ofthe remainder after the proposed acquisition(Remainder After). 27 Analysis and Valuation ofProposed Acquisition Area (Continued) 1) Will the remainder property comply with zoning regulations? Yes, it appears the remainder site will be a legal conforming use under current zoning. 2) Will the remainder property have access to new Arapaho Road? Ifthe term 'Access' is used as a legal term, the answer is 'yes'. If'access' is envisioned as a new driveway to the new road, the answer is 'No, at this time', as it appears that the new Arapaho Road will be a limited access route, and no access in theform ofmatching drive entrances will be constructed. In the future, however, ifthe subject property is redeveloped to another use, the platting process will facilitate future driveway entrances. At the current time, no facilitated access seems to be needed, nor would access benefit the subject property. 3) What is the grade ofthe new Arapaho Road adjacent to the subject property? Very near the existing natural grade ofthe surrounding area. 4) Are there any direct benefits as a result of this project? Yes, the subject remainder property will be a relatively large 19 acre tract ofland bordered on both the north and south sides by very prominent thoroughfares. Therefore, there would be increased access potential as a result ofadjacency to the new Arapaho Road, subject to the approval ofthe construction ofa driveway entrance on the new road. Therefore in the final analysis, the market ofthe remainder subject property after the acquisition and realignment of Arapaho Road is no less than the value before the acquisition and reconstruction. 28 RECAPITULA TION A recapitulation ofthe pertinent values ofthe whole property, the proposed acquisition area, the remainder before and after the acquisition are depicted below: Value ofthe Whole Property (Land Only) $7,500,000 less: Value ofthe Proposed Acquisition Area $ 10,026 equals: Value ofthe Remainder Before the Acquisition (Land Only) $7,489,974 Value ofthe Remainder After the Acquisition (Land Only) $7,489,974 plUS: Value ofthe Improvements in Acquisition Area $ -0plus: Temporary Construction Easement $ 733 equals: Total Compensation $ 10,859 29 AFFIDAVIT AND CERTIFICATE OF VALUE The undersigned does hereby certify that, except as otherwise noted in this appraisal report: 1. We have personally inspected the subject property. 2. We have no present or contemplated future interest in the real estate that is the subject of our evaluation. 3. We have no personal interest or bias with respect to the subject matter ofthis evaluation or the parties involved. 4. To the best of our knowledge and belief, we have included only truthful statements offact in this report; and the analysis, opinions and conclusions expressed herein are true and correct and no pertinent information has knowingly been withheld. 5. The compensation for our professional service is not contingent upon the reporting of a predetermined value or direction in value that favors the cause ofthe client, the amount of the value estimate, the attainment of a stipulated result, or the occurrence of a subsequent event. 6. The analyses, opinions and conclusions in the report are limited only by the assumptions and limiting conditions set forth, and are the personal, unbiased, professional analyses, opinions and conclusions ofthe appraiser. 7. The development ofthe herein expressed value opinions have been made in conformity with, and is subject to the requirements of the Uniform Standards of Professional Appraisal Practice adopted by both the Appraisal Institute and the International Right of Way Association and can be supported by internal file inspection. 8. No persons other than the undersigned prepared the analyses, conclusions and opinions concerning real estate that are set forth in this appraisal report. 9) This document is hereby communicated to the original client named in the transmittal letter for the privileged use that client and their selected distribution. It is understood that most appraisal products are prepared to be a tool for some financial decision purpose. With this understanding, it should be noted that this report was obtained from Evaluation Associates, who owns the data and the detailed file memorandum, notes, etc., which may consist oftrade secrets and commercial or financial information that is privileged and confidential and 30 Af/idavit and Certificate of Value exempt from disclosure under 5 U.S.C, 552 (b) (4). Therefore, please notifY Evaluation Associates ofany request ofreproduction ofthis appraisal. 10) The act ofpreparation and submission ofthis report to the public in the form ofthe original client, simultaneously makes this report subject to the professional requirements of the Appraisal Institute and the International Right ofWay Association regarding review by its duly authorized representatives. 11) The Appraisal Institute conducts both mandatory and voluntary programs of continuing education for their designated members depending upon the date of the conferring of the specific professional designation.. Designated members who meet the minimum standards for these programs are awarded periodic educational certification. James W. Cullar, Jr., and Richard N, Baker are currently certified under their respective and applicable programs. 12) This Appraisal is classified as Limited in Scope and is presented in Summary Format. 13) The market derived value of the proposed acquisition areas as of October 5, 2002 is estimated to be: TEN THOUSAND EIGHT HUNDRED FIFTY NINE DOLLARS ($10,859) 􀀮􀁾􀁾􀀮􀀠 ,CulIar, Jr., SRPA, SRA, 􀁓􀁾􀀠 31 EVALUATION ASSOCIATES Right of Way Land Rights Appraisal and Acquisition Solutions James W. Cullar, Jr., SRPA, SRA, SRIWA Qualifications and Professional Background EDUCATION Graduate ofNorth Texas State University, BBA 1967 All courses, demonstration appraisal reports, professional experience, and quality reviews required for the three professional designations awarded from 1969 to current time. PROFESSIONAL EXPERIENCE Founder and general manager of Evaluation Associates, a real property consulting and land rights acquisition firm, providing a variety ofreal property evaluation services for the financial market, public land rights acquiring agencies, and individuals seeking decision making information for mortgage lending, asset review, right ofway land rights acquisition and related matters. Jim Cullar has qualified as an expert witness in county, state and federal courts in Dallas, Tarrant, Collin, Denton, Ellis, Grayson, and Travis Counties. Prior to founding Evaluation Associates, Jim was a lender and appraiser with a large financial institution; and later the chief appraiser with the Right of Way Division of the Dallas County Department ofPublic Works. He has been a self employed consultant since 1985. Jim keeps abreast ofindustry change through reading, continuing education, teaching, forum discussion, and pUblication. PROFESSIONAL AFFILIA TIONS The Appraisal Institute SRPA, SRA Member designation Past President -North Texas Chapter 1995 Member National Board ofDirectors -1997 -1999 National Finance Committee 1998-1999 Chair -Region VIII 1999 International Right of Way Association (IRIWA Region 2) SRIW A Designation Certified Instructor of: Real Estate Appraisal Principles Income Approach to Valuation Appraisal ofPartial Acquisition Easement Evaluation State Certified General Texas Real Estate Appraiser -TX -1321322 G 32 EVALUATION ASSOCIATES Right of Way Land Rights Appraisal and Acquisition Solutions RICHARD N. BAKER, MAl Qualifications and Professional Background EDUCATION Graduate ofTexas Tech University· Masters ofBusiness Administration -May 1985. Graduate of Southern Methodist University· Bachelor of Arts -Bachelor of Business Administration -May 1983 All courses, demonstration appraisal reports, professional experience, and quality reviews required for the MAl professional designation awarded 1996. RECENT ACCREDITED APPRAISAL COURSES and SEMINARS Highest and Best Use Applications (November 1999) Standards ofProfessional Practice, Part C (March 1998) Dynamics ofOffice Building Valuation (November 1997) PROFESSIONAL EXPERIENCE Appraisal experience includes the analysis and preparation of comprehensive narrative appraisal reports, evaluating a variety of interests in numerous property types including multi-family residential, industrial, office, retail, rural and urban land, special purpose properties, right-of-way land rights acquisition matters, special benefits /enhancement studies, and related consultation issues. Appraisal work product has been accepted and utilized for mortgage lending, estate tax planning and settlement, property exchange, corporate management decisions, road and thoroughfare improvement assessment programs, and partial acquisition valuation for just compensation analysis by eminent domain acquiring agencies. PROFESSIONAL DESIGNATIONS and AFFILIATIONS MAl -The Appraisal Institute #10984 State Certified Real Estate Appraiser-General #1322012-G Texas Real Estate Salesman -Inactive APPRAISAL INSTITUTE LEADERSHIP CONTRIBUTION Candidate Guidance Chair -North Texas Chapter -1998 Web Site Committee Chair -North Texas Chapter -2000 -2001 Regional Representative -Region VIII -2000 -2001 Region Representative to National Technology Outreach Committee 1999 -2001 North Texas Chapter -Member Board ofDirectors -2001 -2003 33 ADDENDUM 34 i ASSUMPTIONS, LIMITING CONDITIONS & DISCLOSURES For the purpose of this appraisal, the following assumptions and limiting conditions are made a part thereof: 1. That title to the individual property will be good and marketable and that title is in fee simple under single ownership unless otherwise stated. 2. No responsibility is assumed by the appraiser for matters of legal character. The value is reported without regard to questions of title, boundaries, encumbrances, easements and encroachments. All existing liens and encumbrances have been disregarded, and the property is appraised as though free and clear under responsible ownership and management unless otherwise stated. 3. The valuation is reported in dollars ofcurrency prevailing on the date ofthe appralsaL 4. If the subject is an improved property, the sketches in this report are approximate and are included, together with the photography, to assist the reader in visualizing the property. 5. All information and comments pertaining to this and other other properties represent the combination of facts provided by others and the professional opinion ofthe appraiser, formed after careful examination and study ofthe subject property. Hence, the work product ofthe appraiser is an estimate. While it is believed that the information, estimates and analyses which led to the herein stated estimated value conclusions are correct, and the primary appraiser is prepared to testifY as to the applicability ofthe selected data to the valuation ofthe subject property, the appraiser does not guarantee any element ofthe data base. Nor does he assume any financial liability for errors in facts provided by others, analysis or judgement. The client's remedy is referral of a faulty analysis to the Appraisal Institute, the International Right ofWay Association, andlor the Texas Appraisal Licensing and Certification Board. 6. This is a financial decision document. It is not a marketing tool. Therefore no part of the contents ofthis report (especially any conclusions as to value, the identity ofthe appraiser or the firm with which he is connected, or any reference to the professional organizations that designate the appraisers or to the applicable designation) shall be disseminated to the public through advertising media, public relations media, news media, sales media or any other public means of communication other than the intent of the report as a financial decision tool for the original client. 7. Given adequate preparation notice, the appraiser is prepared to provide testimony and to appear in court by reason ofthis appraisal, under separate contract, at the request ofthe original client. 8. The distribution ofthe total valuation in this report between land and improvements applies only under the existing program ofutilization. The separate valuations for land and buildings must not be used in conjunction with any other appraisal and are invalid ifso used. , , ASSUMPTIONS, LIMITING CONDITIONS & DISCLOSURES VALUE 9. Also, the value is estimated under the assumption that there will be no international or domestic, political, economic, or military actions that will seriously affect real estate values throughout the country. 10. Real estate values are influenced by a large number ofexternal factors. The analysis included all ofthe data necessary to form an infurmed highest and best use and value conclusion. The report does not include all the data necessary to support the value estimate. All pertinent facts have been referenced in this report, but we do not guarantee that we have knowledge of all factors that might influence the value ofthe subject Due to rapid changes in the external factors, the value estimate is considered reliable only as of the date of the appraisal and any related testimony.. 1 L In the event the appraisal is based upon proposed improvements, it is assumed that the improvements will be constructed in substantial confurmity with plans and specifications that have been furnished the appraiser, and with good materials and workmanship. Itis also assumed that the proposed foundation and construction techniques are adequate for the existing sub-soil conditions. 12. Unless otherwise stated in this report, the existence ofenvironmentally hazardous or damaging material, which mayor may not be present on the property, was not observed by the appraiser. The appraiser has no knowledge ofthe existence ofsuch materials on or in the property. The appraiser, however, is not qualified to detect such substances. The presence ofsubstances such as asbestos or urea-formaldehyde may affect the value ofthe property. The value estimate is predicted on the assumption that there is no such material on or in the property that would cause such a loss in value. No responsibility is assumed for any such conditions, or for any expertise or engineering knowledge required to discover them. The client, property owner and/or prospective purchaser is advised to conduct environmental environmental due diligence with regard to the property including having the necessary environmental assessments and/or environmental audits made to determine ifany environmental problems related to the subject property exist. Ifany environmental problems are found which effect the subject property, the value estimate contained in this report is subject to review and may not be valid. 13. The American and Disabilities Act (ADA) became effective January 26, 1992. I (we) have not made a specific compliance survey and analysis ofthis property to determine whether or not it is in conformity with the various detailed requirements of the ADA It is possible that a compliance survey ofthe property together with a detailed analysis ofthe requirements ofthe ADA could reveal that the property is not in compliance with one or more ofthe requirements ofthe act Ifso, this fact could have a negative effect upon the value ofthe property. Since I (we) have no direct evidence relating to this issue, I (we) did not consider possible noncompliance with the requirements ofADA in estimating the value ofthe property. DEFINITION OF TERMS 1. Market Value: The most probable price that a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation ofa sale as ofa specified date and the passing oftitle from seller or buyer under conditions whereby: a. buyer and seller are typically motivated; b. both parties are well informed or well advised, and each acting in what they consider their best interest; c. a reasonable time is allowed for exposure in the open market; d. payment is made in cash in U.S. dollars or in terms offinancial arrangements comparable thereto; and e. the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. 2. Value in Use: The value of an economic good to its owner-user which is based on the productivity (privacies in income, utility or amenity form) of the economic good to a specific individual. 3. Highest and Best Use: The most profitable likely use to which a property can be put. That use of land which may reasonably be expected to produce the greatest net return to land over a period oftime. That legal use which will yield to land the highest present value. 4. Abbreviations commonly used in the appraisal ofreal estate: SF = square feet RR = railroad lAC per acre ROW = right ofway 5. Vehicular traffic artery abbreviations: St. Street PM = Farm to Market Rd Ln = Lane US = United States Highway Dr Drive I = Interstate Highway Rd = Road Frwy = Freeway PI == Place Expwy Expressway Pkwy Parkway Hwy Highway Ave Avenue SH = State Highway Blvd = Boulevard N North Cir = Circle S South Ct = Court E East Mt. = Mount W West EVALUATION ASSOCIATES RIGHT OF WAY LAND RIGHTS ANALYSIS' APPRAISAL' ACQUISITION' SOLUTIONS SUMMARY OF SALIENT FACTS AND CONCLUSIONS ARAPAHO ROAD PROJECT Property Owner: City ofDaUas Water Utilities Parcel No.4 .", i Valuation Conclusion: Whole Property (Land Only) 19.01 Acres@$9.00/SF Proposed Acquisition 1,114 SF @$9.00/SF Remainder Befure Acquisition Remainder After Acquisition Loss in Value ofRemainder After $7,500,000 $ 10,026 $7,489,974 $7,489,974 $ -0I I I Determination ofCompensation: Permanent Right ofWay Compensation for Improvements (None; road to be repaired and realigned by Town ofAddison) Landscaping (None -Replacement) Temporary Construction Easement Total Compensation Date ofAppraisal: October 5, 2002 $ 10,026 $ -0$ -0$ 733 $ 10,859 Location: 4799 Belt Line Road, Town ofAddison, Texas Legal Description: Called 19.01 Acres City of Dallas, Town of Addison, Dallas County, Texas Land Size: Whole Property (per DCAD records) Road Right ofway Area Temporary Construction Easement 19.01 Acres 1,114 SF SF 1,163 SF Zoning: 1-1(Industrial) with SU 1 Special Use Pennit Highest and Best Use: As ifVacant BEFORE: As ifVacant AFTER: Commercial use Commercial use 11615 Forest Central Drive • Suite205 • Dallas, Texas 75243-3917 • (214) 553-1414 EVALUATION ASSOCIATES RIGHT OF WAY LAND RIGHTS ANALYSIS· APPRAISAL· ACQUISITION· SOLUTIONS October 5, 2002 Mr. Steve Chutchian, P.E. Assistant City Engineer Town of Addison 16801 Westgrove Addison, Texas 75001-9010 Re: ARAPAHO ROAD PROJECT -Parcel No.4 Property Owner: City of Dallas Water Utilities An appraisal ofa 1,114 SF proposed Permanent Road Right of Way acquisition (ROW), and 1,163 SF Temporary Construction Easement, out ofan approximate 19.01 Acre tract of land situated on the north side ofBelt Line Road, at the west intersection ofthe DART Rail line right ofway, and just west ofAddison Road, (known locally as the 4799 Belt Line Road). The parent tract is legally described as 19.01 Acres City of Dallas, Town of Addison, Dallas County, Texas, and is known as the City ofDallas Beltway Reservoir. Dear Mr. Chutchian: At your request, we have conducted the analysis and investigations necessary to derive the value of the whole. property (Land Only) and proposed acquisition areas based on the economic conditions which prevailed on the current valuation date ofOctober 5,2002. It is understood that the function ofthe appraisal, and ofthis summary ofdata and analysis employed in that appraisal process, will be used as a basis for establishing just compensation due to the property owner concerning the intent of the Town of Addison to acquire the referenced right of way for the widening, realignment and improvement of Arapaho Road. This appraisal was prepared in accordance with valuation principles which conform with the State of Texas condemnation laws and subsequent legal precedents based on, but not limited to, State v Carpenter, 89 SW 2nd, 1936. Further, this report addresses appraisal guidelines of the International Right of Way Association, the Appraisal Institute, and is classified as a limited summary report format under the Uniform Standards ofProfessional Appraisal Practice (USP AP) promulgated by the Appraisal Foundation. The methods of valuation and reporting are also consistent with an acceptable process relevant to the nature of the whole property and the proposed acquisition area. All herein mentioned value estimates are market oriented and based on the principle of Value in Exchange rather than Value in Use to a specified owner. These value terms, along with other appraisal terminology, are defined in the addendum section ofthis report. Owner Contact The subject property was inspected from various points of reference on several dates from May 2001 to October 2002, with the date of our last inspection being October 5, 2002, also the 11615 Forest Central Drive· Suite 205 • Dallas, Texas 75243-3917 • (214) 553-1414 Mr. Steve Chutchian October 5, 2002 valuation date. The enclosed photographs were personally taken by the undersigned appraiser during the same time frame. Based on our research, the current owner has held title since the 1950s. There are no known contracts, offers for sale, or plans for redevelopment of the subject whole property. Based on a review ofengineering design and construction plans provided by the Town ofAddison, and an inspection ofthe subject whole property, after the acquisition the site should have the same access, and superior exposure, when compared with the before condition. Related analysis is described in more detail in the Analysis and Valuation ofthe Proposed Acquisition Section later in this report. It will also be explained how and why there is no loss ofmarketability and utility ofthe property af'terthe acquisition. The appraisers have analyzed the subject property both before and after the proposed acquisition and found no diminution in value beyond the portion ofthe property within the proposed right ofway, which is to be cOmpensated. Subject Site Description According to investigation of Dallas County Plat Maps, field review by Evaluation Associates, and information provided by Town of Addison, the subject whole property fronts several hundred feet along the north side ofBelt Line Road. The generally rectangular shaped tract contains 19.01 acres. All public utilities are available to the subject property. Topographical features include generally even, yet sloping terrain, which falls toward the north. There were no noted or observed easements, encroachments or other special hazards that might The acquisition area is at the back 0/effect the marketability or utility ofthe subject parent the property, concentrated in the NWC tract. The subject site is larger than other commercial sites found within this market area. The site is currently used as part ofthe Beltway Reservoir for the City ofDallas Water Utilities. Open grassy areas surround the improvements. None of the improvements are are situated within the proposed acquisition area. Analysis indicates the loss ofthe relatively small area ofthe land at the northeast corner ofthe property will not result in loss to the remainder property. Zoning Based on our review of the Town ofAddison Zoning Map, the subject whole property is zoned I-I (Industrial) with an SU-l (Special Use Permit) overlay. The subject site is used as a City ofDal1as Water Utilities (water reservoir) facility. Most public works uses are permitted in most city zoning districts. Highest and Best Use The highest and best use is that use which will provide the greatest net return to the owner ofthe land within applicable physical, legal and financial market acceptance constraints. These criteria are usually considered and tested sequentially; i.e., a use may be financially feasible, but this is irrelevant ifit is physically impossible or legally prohibited. Highest and Best Use is defined in The Appraisal a/Real Estate, 12th Edition, published by the Appraisal Institute as as being: 2 Mr. Steve Chutchian October 5, 2002 "the reasonably probable andlegal use ofvacant land or improved property, which isphysically possible, appropriately supported,ftnancially feasible, andthat results in the highest value. " Physical factors include physical characteristics ofthe site such as shape, size, topography, ingress and egress. The subject property encompasses 19.01 Acres. The tract has adequate size, shape, ingress and egress. Visibility and exposure is to Belt Line Road, a major east-west thoroughfare. All utility services are available in the site. The physical influences indicate the subject site could support a variety ofuses. The legal limits to Highest and Best Use in this case are determined by the zoning ordinance. As previously discussed, the subject property is designated for industrial uses. Analysis ofthe physical and legal factors suggest that the highest and best use of the subject whole property is for commercial uses. All other uses are eliminated as the legal constraints prohibit such uses. An analysis offinancial factors would include determining uses which produce a market accepted rate ofreturn based onthe risks involved. The area surrounding the subject property is developed as a variety ofuses -restaurants, professional offices, mote1slhotels. Higbest and Best Use Conclusion (As IfVacant) The highest and best use ofthe whole subject property is for a commercial use, discounting the current public works use (which is most likely to continue). Valuation Approach There were many sales ofsimilarly zoned land available for consideration. The sales fell into three categories; industrial uses, hotel use, smaller pad sites, such as for fast food restaurants. Most of the sales ofland for straight run ofthe mill industrial uses were inferior to the subject property, due to location. Ofthe available database, the four sales included in this report were the same sales suggested for consideration by the City ofDallas Property Management Department. Sale Nos. I and 4 were selected for comparison by Evaluation Associates, prior to receiving the four sales from the property owner. Comparative explanation of the four sales is presented later in the report. Analysis of the four sales indicates that the City ofDallas public works use is unaffected The existing City ofDallas public works use by the proposed acquisition. Since it is not will be unaffected by theproposed acquisition. necessary to value these unaffected improvements, only the value of the land (subject site) has been estimated. The most realistic approach to value vacant land is through the direct comparison of land sales. Several sale transactions were analyzed and adjustments were made to compensate for differing influences on value. A detailed summary of those sales considered most representative of the current market, and the conclusions derived from our analysis, have been included in this report. 3 Mr. Steve Chutchian October 5, 2002 Based on information supplied and investigations made by Evaluation Associates personnel, it appears that after the completion of the thoroughfare widening and improvement project, there should be no negative impact on the remainder resulting from the proposed acquisition. Access and visibility should be similar both before and after the proposed acquisition. The site is not adversely affected by the proposed acquisition and the subject property is valued on a land only basis. Additional detail and discussion in support ofthis conclusion can be found in the Analysis and Valuation ofthe Proposed Acquisition Area section. Conclusion OUf research has included an investigation ofmarket and neighborhood trends which are believed to influence the value of the subject whole property (Land Only). Specific attention and consideration was given to the value ofthe subject property, both before aud after the proposed right ofway acquisition area. Based upon our analyses and interpretation ofthe data, the Market Value ofthe proposed acquisition area as ofOctober 5,2002, is estimated to be: TEN THOUSAND EIGHT HUNDRED FIFTY NINE DOLLARS ($10,859) The following narrative report sets forth a description ofthe subject property along with maps, photographs and other exhibits. The report has been prepared in accordance with the Code of Ethics and Professional Conduct promulgated by the Appraisal Institute and the International Right ofWay Association. The report is subject to the Assumptions and Limiting Conditions included in the Addendum. This report was prepared by James W. Cullar, Jr. and Richard R Baker, both representing the firm Evaluation Associates, and deriving the analysis and value estimate conclusion. The undersigned assumes responsibility for any required testimony. Ifyou have any questions, please call us. Respectfully submitted, EVALUATION ASSOCIATES 4 PHOTOGRAPHS OF SUBJECT PROPERTY Aerial photograph of the northern portion ofthe subject property 5 I SUBJECT PROPERTY 6 􀁁􀁐􀁐􀁾􀁁􀁌􀁐􀁒􀁏􀁃􀁅􀁄􀁕􀁒􀁅􀀠The estimation of Market Value of a property that is being appraised is accomplished by the comparison and analysis ofas many techniques as are appropriate. Three approaches are generally used to produce value indications fur improved properties while only one (the Sales Comparison Approach) is normally employed in analyzing an unimproved property such as the subject site. COST APPROACH The value indication by this approach is accomplished by determining the Reproduction(or Replacement) Cost New oftheimprovements less accroed depreciation from all causes to which the value ofthe land (estimated by comparison) is added. SALES COMPARISONAPPROACH Thecomparisonofsimilarpropertiesthat have sold in the marketplace is used to produce an indication of value. The comparisonrnay either be direct or indirect by commonly accepted units or elements ofcomparison. INCOME APPROACH This approach to value is applicableto properties capable of producing a net income stream. The net income is translated into a value indication through capitalization. The strengths and weaknesses of each approach employed are weighed in the final analysis. The approachor approaches offering the greatest quantity and quality ofsupporting dataare typically given most consideration and the final value is then correlated. In this appraisal situation, wherein only the land valuation was required, only the Sales Comparison Approach was employed. 7 LAND VALUATION A reliable value indication for the subject land is provided by an analysis and comparison ofother tracts that have sold in the marketplace. Many factora influence the price ofvacant land. The selected sales are analyzed with respect to real property rights conveyed, financing terms, conditions ofsale, market conditions, location and physical characteristics. • A transaction price is always predicated on the real property interest conveyed. The revenue generating potential ofa property can be limited by the terms of existing leases. • The purchase price can be influenced by financing terms. Non-market financing terms must be considered to determine the cash equivalent price. • Adjustments for conditions of sale usually reflect the motivations of the buyer(s) and the seJler(s). Circumstances such as assemblage sales are considered in this analysis. • Market conditions sometimes change over time and past sales must be analyzed to determine the direction and velocity ofchange between the sale date and the appraisal date. • The analysis of location includes the comparison of trade or market area, proximity and accessibility to major thoroughfares and exposure and accessibility to traffic. • The analysis of physical characteristics would include zoning, topography, frontage, depth, shape, proximity to public utilities and other factors influencing the utility or use. 8 COMPETITIVE LAND SALE Land Sale No. 1 Location: Grantor: Grantee: Legal Description: Date of Sale: Site Data: Size: Zoning: Utilities: Frontage: Shape: Topography: Easements: Improvements: Intended Use: Consideration: Financing: Comments: Mapsco # 14-C SWC of Edwin Lewis Drive and Quorum Drive, Addison Daryl N. Snadon Addison SHS, LLC Quorum Centre Addition January 5, 2001 VolumefPage: 2001004/4624 4.54 Acres Commercial All available Edwin Lewis Drive and Quorum Drive Functional Level None reported detrimental None Limited service hotel $2,700,000 or $J3.65/SF All cash to seller Hotel is under construction. 9 COMPETITIVE LAND SALE I Land Sale No. 2 I Location: Grantor: Grantee: Legal Description: Date ofSale: Site Data: Size: Zoning: Utilities: Frontage: Shape: Topography: Easements: Improvements: Intended Use: Consideration: Financing: Comments: Mapsco# 4-P E1s ofMidway Road at Commander Drive, Carrollton Maylar, LP (Stanley Hickman) Sixteen Thousand Five Hundred, Inc. Jerry Allan King, President) Part ofLot I, Blk A, Beltwood North-Airport Addn. Addison January 31, 2000 VolurnelPage: 200096/2365 1.341 Acres 1-3 (Industrial) All available Midway Road Functional Level None noted None Office/commercial fucility for King Aerospace $470,000 or $8.05/SF $303,550 Due 1128/2001, Texas Capital Bank Property remains vacant as ofthe date ofappraisal. 10 COMPETITIVE LAND SALE Land Sale No. 3 Location: Grantor: Grantee: Legal Description: Date of Sale: Site Data: Size: Zoning: Utilities: Frontage: Shape: Topography: Easements: Improvements: Intended Use: Consideration: Financing: Comments: Mapsco # 14-A N/s of Belt Line Road, 15 fi E. ofBusiness Avenue, Addison Business/Beltline, LP Burger King Corporation Lot A, Block 3, Beltline Marsh Business Park October 1, 1999 VolumelPage: 99192/6903 1.571 Acres Commercial All available 158 feet on Belt Line Road Functional Level None reported detrimental None Investment $785,000 or $11.47/SF All cash to seller Property is vacant. 11 COMPETITIVE LAND SALE Land Sale No.4 Location: Grantor: Grantee: Legal Description: Date of Sale: Site Data: Size: Zoning: Utilities: Frontage: Shape: Topography: Easements: Improvements: Intended Use: Consideration: Financing: Comments: Mapsco # 14-A W/s of Business Avenue, approximately 255 ft N. ofBelt line Road, also fronts 34 ft on BeltIine Road and 156 ft on Els ofMarsh Lane, Addison BeltlineIMarsh JV Budget Suites ofAmerica Part of Belt line-Marsh Addition May 13, 1999 VolumelPage: 99093/38 6.552 Acres T, Industrial District All available 156 ft on Marsh; 250 ft on Business Functional Level None reported detrimental None Extended stay hotel -300 units $2,283,232 or $8.00/SF All cash to seller Hotel has been constructed. 12 LAND SALES MAP 13 LAND VALUATION SUMMARY The subject property is located in Addison, The area is largely developed, thus other competing neighborhoods were researched for sales data. The following sales are very similar to the subject whole property in many respects, however there are some differences, Such differences make it necessary to apply adjustments to the sale properties in order to reconcile the affect of these features on Market Value. RECAPITULATION OF SALES DATA 1 4. $13.65 1100 1.341 $8.052 1-3 3 10/99 1.571 c 11.47 The above table capsulizes the data presented on the preceding pages. Tile chart that follows after this section, uses the sales price per square foot as a unit ofcomparison. The sales are analyzed and compared with the subject tract for similarities and differences. The elements considered to be inferior to the subject property are adjusted upward while the superior qualities of the competitive sales are adjusted downward. Adjustments have been based on the appraisers observations of physically and and economically oriented differences in each competitive sale. The amount of adjustment is determined by the extent to which the sale varies from the subject property. The adjustment process compensates for the difference between the competitive sale and subject and provides an indication ofvalue for the subject property. ANALYSIS AND CORRELATION The preceding summary chart displays four land sales for comparison to the subject whole propertylparent tract. A reliable value indication for the subject land is provided by an analysis and comparison to other vacant land that has recently sold in the marketplace. This market derived sales data has been used to abstract and analyze property features that affect sales price. Rights conveyed, financing terms, conditions of sale, location, market conditions and physical characteristics were factors considered to determine which influences price in the subject market area. 14 Land Valuation Summary (continued) Rights Conveyed The market value fee simple interest in the subject whole property is being sought in this analysis, During the sales verification process, it was determined that there were no existing leases on any ofthe sale properties, thus indicating that fee simple interest was transferred in each transaction. Therefore, no adjustment is applied to any ofthe sales for this factor. Financing Terms The adjustment for financing considers the effect that seller financing has on the purchase price ofa property. Below market interest rates are typically reflected in higher prices per unit. The adjustment for financing is estimated by comparing the financing terms with the terms readily available, as of the sale date, from disinterested parties, All ofthe sales were reported as cash transactions, thus no adjustment was appropriate for financing terms, Conditions ofSale Adjustments for conditions of sale usually reflect the motivations ofthe buyer and seller or any unusual concessions by either party to the transaction. The sales were purchased for owner use and/or speculative investment purposes. No adjustment for this factor is applied. Market Conditions The sales occurred over an approximate 3 year period prior to the valuation date (October 2002), The sales did not provide substantive evidence on which to base a time/market conditions adjustment. Subsequent to September 11,200I, the several sectors ofthe real estate market have trended back toward the sales prices ofthe late 1990s, Sales in the subject market sector dated 1999 are still relevant There is no supporting evidence to indicate property values have continued to appreciate since Sale No, 1 transpired. It is known that hotel occupancy rates and occupancy have declined significantly within the past year, The short and long term impact ofSeptember 11, 2001 will have on land values is not known at this time, Ifthe current trend continues indefinitely, the impact is likely to be a notable decline in the number ofland sale transactions, and a flattening in land values. Until there is more market data to analyze, the impact cannot be better quantified, and there is no time adjustment applied to any ofthe sales, 15 Land Valuation Summary (continued) Location The influence oflocation is acomposite ofnumerous attributes such as access, exposure, visibility, quality and consistency ofsurrounding development, proximity to major roadways and location within the perceived growth pattern as evidenced by existing and planned development. • Sale No. I does not front Beltline Road, but is prominently situated near the new Addison Circle near several mid-rise office buildings. This location is rated similar to the subject property. • Sale No.2 fronts ofMidway Road, a major traffic artery, but, the location is rated inferior. A 20% downward adjustment was made. • Sale NO.3 fronts Beltline Road at the NEC ofBusiness Avenue. It is a very visible Burger King Restaurant corner pad site. • Sale No.4 does not front Beltline Road, but is a well located fronting Midway Road and Business Avenue, just 255 feet north ofBeltiine. A lesser downward adjustment ofl0% was made. Land uses fronting Beltline are typically those requiring exposure to high traffic counts. Such uses include restaurants, retail and the like. These sales are rated similar to the subject property in terms oflocation and no adjustment is applied. Physical Characteristics The analysis ofphysical characteristics considers such factors as shape, depth, frontage, zoning, topography and the availability of public utility services. The shape of the subject property is generally rectangular. Ithas average ingress/egress, and access to the site is considered good. All ofthe sale properties compare favorably with the subject with regard to physical features. Size The market for real estate is comparable to that for other commodities in that price is sometimes influenced by volume (quantity or scarcity). It can generally be demonstrated that as volume decreases, the price per unit may rise. In contrast, unit price may decline when volume increases. Ifall other attributes are equal, the site may sell for more on a unit basis than a larger one due to reduced holding costs and less risk, risk, if the motivation ofthe buyer ofthe land is to sell offin smaller 16 Land Valuation Summary (continued) parcels. It is also recognized that larger parcels which have potential for more and variable uses, even though additional development and an extended period prior to sale, may be more desirable to some buyers. This could be attributable to the larger tract ofland being adaptable to larger scale uses. Larger tracts may sometimes sell for a premium, or for a similar unit price as a smaller tract. Therefore, in real estate, the aspect ofquantity discounting should not be assumed because it is not an economic principle, but rather an inconsistent market reaction. It should be supported by markettransactions ifavailable. The subject site contains approximately 19.01 acres. The sales range in size from 1.341 to 6.552 acres. A comparison ofthe sale properties did support a size adjustment. The following exhibit presents a summary reconciliation ofthe adjustment process. SF/SF $13.65 $8.05 $11.47 $8.00 Rights Conveyed Financing Conditions ofSale Market Conditions Fcc Simple Fcc simple Fcc simple Fee simple Cash Cash Cash Cash Market Market Market Market Similar Similar Similar Similar Location Equivalent Inferior Equivalent Inferior +1 4.54 Ae 1.341 Ac 1.571 Ac 6.552 Ac Size Hotcl Sile Business Office Restaurant Hotel Site Pad Site Pad Site -20% -20% -20% -20% Net Adjustment -20% -0-20% -10% The sale prices ranged from $S.OO/SF to $13.65/SF before the analysis. After the analysis, the adjusted values ranged between $7. 20/SF and $1 O.92/SF. After adjustments were made to the sale 17 I,ami Valuation Summary (continued) properties, this approach produced an acceptably narrow range of indicators. The indications provided by Sale Nos. 1 and 4 seem to be the most relevant, in that they were the largest ofthe four sale properties. They were the most heavily adjusted, but the indications provide the best representation ofthe value ofthe ofthe subject property, In view ofthese indicators, the Market Value ofthe subject land is estimated to be based on $9,00/SF, calculated as follows: 19.01 Acres x 43,560 SF = 828,075 SF Rd 828,075 SF x $9.00/SF = $7,452,680 Rounded to: $7,500,000 18 CORRELATION AND CONCLUSION The subject property is valued as an unimproved tract of land, as the existing improvements are unaffected by the proposed acquisition, No consideration has been given to the fact that the subject property is improved as a water reservoir, nor that the related public works improvements (structures) would require removal prior to the realization ofthe stated estimated value ofthe land, This is justified, and is consistent with the valuation approach ofother improved properties along the same project. Therefore it was not necessary to separately evaluate any buildings. There was no construction cost or accrued deprecation to analyze, In this appraisal situation, the Cost Approach was not considered applicable, Also, since there is no trend toward land leases in the area and there is no existing or feasible activity to generate reliable and consistent rental or lease income attributable to the land, the Income Approach to estimate value was not utilized, The Sales Comparison Approach Approach analyzes trends of buyers and sellers from the analysis of competitive land sales, Rights conveyed, financing terms, conditions of sale, location, market conditions and physical characteristics were factors analyzed to determine the influence on price in this market area, Each sale was inspected, analyzed and compared with the subject property. Adjustments were made to each to reconcile differences in locational attributes, changing market conditions and physical differences (size) The Sales Comparison Approach produced the only reliable and supportable indication ofmarket value for the subject property, Therefore, the Market Value of the fee simple interest in the subject whole property (Land Only), as ofOctober 5, 2002, is estimated to be: SEVEN MILLION FIVE HUNDRED THOUSAND DOLLARS $7,500,000 19 --􀁾􀁾􀀮􀀭EXHIBIT "B". G it" 􀁾􀀠'\ --􀁾􀁾􀀭􀀭􀀭􀁾􀀠 􀁾.. UNE TABLE UNE BEARING. 􀁾􀁄􀀠OIST CAllEO L1 N 80'11'36" E. S8O'>49'5Z I"l Z.., 􀁾􀀠> o 􀁾􀀠 >< :d o 􀁾􀀠I"l X (j I"l 􀁾􀀠 􀁾􀀠 :s: "" t:i 􀁾􀀠 >< 􀁾􀀠 .., 􀀮􀁾􀁾􀁾􀁾􀁾􀁾􀁏􀀠􀁒􀁏􀁾􀀱􀀩􀁴􀁾􀁾􀀢􀀧􀁦􀀧􀁾􀀠􀁒􀂷􀁑􀂷􀁴􀁾􀁾􀁇􀁉􀁬􀁾􀁬􀁩􀁜􀀧􀁾􀀺􀀠6'1.9 'i \l.R.O.C•1• Cl [g1r!JW§􀁾􀀱􀁒􀁬􀀱􀁲􀀡􀁊􀀠©@@Il[ 􀀤􀁛􀁉􀁊􀁉􀁉􀁒􀁬􀁗􀁾􀀧􀁴􀀱􀀠􀁾􀁡􀁾􀁾􀂮􀀠CALUEO 19.01 AC. em OF DALLAS AUGUST 5, 1956 VOL: 4942, PC:. 629 LOT 1 D.R.D.C.T. BLOCK A BELTWOOD RESERVOIR AUGUST 2. 1989 VOL 90012. PG. 3386 D.R.D.C.T. PARCEL 4 A PLAT OF A 0.0256 ACRE (1,114 SQ. FT.) 'TRACT OF lAND IN 11-IE EDWARD COOK SURVEY ? ABSTRACT NO. 326 TOWN OF ADDISON v DALLAS COUNTY, TEXAS , DENOTES A FOUND POINT AS INDICATED 100 OlHERWISE NOTED • DENOTES A 5/B· IRON ROD SET UNLESS 50 0 25 50 􀁉􀀭􀁾􀀠....... ' [ ---PROPOSED RIGHT OF WAY UNE GRAPHIC SCALE 1 INCH = 50 FT. 􀁾􀀠"" C"g. :s > i " " 􀁾􀀠􀁾􀀠N o Parcel 4 Field Note Description Arapaho Road Project Town of Addison Dallas County, Texas BEING a description of a 0.0256 acre (1,114 square foot) tract of land situated in the Edward Cook Survey, Abstract Number 326, Town of Addison, Dallas County, Texas, and being a portion of a called 19.01 acre tract of land conveyed to the City of Dallas as evidenced by deed dated August 5, 1958 and recorded in Volume 4942, Page 629 of the Deed Records of Dallas County, Texas, also being a portion of Lot 1, Block A of Beltwood Reservoir, an addition to the Town of Addison as evidenced by plat dated August 2, 1989 and recorded in Volume 90012, Page 3386 of said Deed Records, said 0.0256 acre tract of land being more particularly described by metes and bounds as follows; BEGINNING at a 5/8 inch iron rod found for the common Northwest corner of said Lot 1, Southwest corner of a roadway easement dedicated by said plat of Beltwood Reservoir, and Southeast corner of a 60 foot wide right of way dedication as evidenced by the plat of Addison Restaurant Park, an addition to the Town of Addison, dated March 9, 1988 and recorded in Volume 88066, Page 4219 of said Deed Records, said paint also being in the East line of said Addison Restaurant Park, and the East line of a called 4.1525 acre tract conveyed to Heritage Inn Number XII I dated January 24, 1997 and recorded in Volume 97018, Page 00073 of said Deed Records; THENCE, NORTH 80°11' 36" EAST (called SOUTH 80·49' 50" WEST), departing said lines and along the common North line of said Lot 1 and South line of said roadway easement, a distance of 10.82I , feet (called 10.57 feet) to a 5/8 inch iron rod set for the beginning of a tangent curve to the left: THENCE, NORTHEASTERLY, continuing along said common line and along the arc of said curve having a radius of 1,270.00 feet, a central angle of 4°22' 46", a chord bearing North 78·00' 13" East for 97.05 feet, for an arc distance of 97.07 feet to a 5/8 inch iron rod set in the proposed South right of way line of Arapaho Road; 21 LEGAL DESCRIPTION PARCEL 4 -ARAPAHO ROAD PROJECT THENCE, SOUTH 66°22' 04" WEST, departing said corrunon line and along said proposed South right of way line of Arapaho Road, a distance of 30.71 feet to a 5/8 inch iron rod set for the point of curvature of a tangent curve to the right; THENCE, SOUTHWESTERLY, continuing along said line and the arc of said curve.having a radius of 1,177.92 feet, a central angle of 4°03'26", a chord bearing South 68°23'47' West for 83.39 feet, for an arc distance of 83.41 to a 5/8 inch iron rod set in the corrunon West line of said called 19.01 acre tract and East lines of said Addison Restaurant Park and said called 4.1525 acre tract; THENCE, NORTH 􀀰􀀰􀀰􀀱􀀲􀀧􀀱􀀹􀀧􀁾􀀠EAST (called SOUTH 00°49'37" WEST), along said corrunon line, a distance of 21.00 feet to the POINT OF BEGINNING; CONTAINING an· area of 0.0256 acres or 1,114 square feet of land within the metes recited. All bearings are referenced to the North Right of Way line of 􀁃􀁥􀁮􀁴􀁵􀁾􀁩􀁯􀁮􀀠Way, called S 89"51'55" E, according to the final plat of Lot 3, Surveyor Addition, recorded in Vol. 77173, Page 135, Deed Records of Dallas County, Texas. A plat of even survey date herewith accompanies this description. I, Ayub R. Sandhu, a Registered Professional Land Surveyor, hereby certify that the legal description hereon and the accompanying plat represent an actual survey made on the ground under my supervision. 􀁾􀁾􀀻􀁴􀀠􀁾􀀯􀀯􀀭􀀯􀀻􀀨􀀭􀁩􀁲Ay b R. Sandhu, R.P.L.S. Texas Registration No. 2910 22 --" 􀀬􀀬􀁾"uGllS 'pG 􀀶􀁾􀀹􀀠􀁾􀁡􀀮􀀮􀀭􀀢􀀢􀁾􀁾􀀬􀀠<'o.;>..o.C.'· L3 L4􀁾􀀠if 􀁾􀀠!::" 􀁾􀀠􀁾􀀠ii' if N W CAULED 19.01 AC, CtiY OF" DALLAS AUGUST!5;:,1958·:, 'iOL 4942,',PG;:S29", LOi 1 D,R.o.C.T, BLOCK A BELlWOOD RESERVOIR AUGUST 2, 1989 VOL 90012, ?G, 3386 D,R,D,C,i, PARCEL 4-TE t"l A PLAT OF A 2: 0,0267 ACRE (1,163 SQ. FT.) >-lI!" 􀁾􀀢􀀢􀀮􀁾􀀮􀀭􀀨􀀩􀁦􀀬􀁾􀁜􀀮􀀬􀀬􀀺􀀺􀀮􀀠TRACT OF LAND /J;y ",,:, '·s't..·)(:" ., IN THE EDWARD COOK SURVEY 􀀻􀀮􀀬'c .,'r:.\ , "",). :." ABSTRACT NO, 326􀀧􀁦􀀮􀀬􀁊􀀮􀀰􀀮􀁾􀀢􀂷􀁾􀀧􀁙􀀠􀀱􀁾􀀠􀁾􀀧􀀼􀀵􀀧􀀮􀁴􀀮􀀨􀀺􀀠4:.. .......􀁾.."H........... 􀁾􀀠TOWN OF ADDISON AYUS R, SANiJH0 l;\' DALLAS COUNTY, TEXAS DENOiE S A FOUND POINT AS INDICAiED •••:-l t"l 3: o 􀁾􀀠;I:l ;J>􀁾􀀠o 􀁾􀀠2: 􀁾􀀠;I:l 9 t= o 2: 􀁾􀀠00 􀁾􀀠􀀮􀀮􀀭􀀭􀀬􀀬􀀭􀀭􀀭􀁾􀀭􀀭􀀭􀁾􀁾_--_....------- ..-1"""" .., ---. : ,...,;;;;:",,.:;;; EXHIBIT "B" UNE LlC f. 1-'; 􀁾􀀠1.2 L3 L4 L5 􀀱􀀤􀀱􀀾􀁐􀁲􀀭􀀮􀁾􀁏􀀠ROr-.O ,."P.IJ>8ll' ;>..o,'i!·)Se1 5 \9/gllli\\W􀀦􀁾􀁬􀁬􀁬􀁩􀀠COOIlt 􀀤􀁉􀁕􀁊􀁾􀁖􀀯􀁧􀀧􀁴􀁲􀀠 􀀦􀁑􀁾􀁾􀁀􀀠UNE TABLE BEARING CAI.l£O S 00'12'19" W $OO"4S'S'·W N 66'22'04" E 5 23'37'56" E 5 66'22'04" W N 00'12'19" E SOO'·49'37·W CURVE TABLE CURVE DELiA RADIUS LENGTH Cl 4'03'26" 1177.92' 83,41' 02 4"13'50" 1187.92' 87.71' CHORD N 66'23'47" E -83,39' S 68'28'59" W 87,69' LEGAL DESCRIPTION Parcel 4-TE Field Note Description Arapaho Road Project Town of Addison Dallas County, Texas BEING a description of a 0.0267 acre (1,163 square foot) tract of land situated in the Edward Cook Survey, Abstract Number 326, Town Addison, Dallas County, Texas, and being a portion of a called 19.01 acre tract of land conveyed to the City of Dal as evidenced by deed dated August 5, 1958 and recorded in Volume 4942, Page 629 of the Deed Records of Dallas County, T.exas, also being a portion of Lot 1, Block A of Beltwood Reservoir, an addition to the Town of Addison as evidenced by plat dated August 2,1989 and recorded in Volume 90012, Page 3386 of said Deed Records, said 0.0267 acre tract of land being more particularly described by metes and bounds as follows; COMMENCING at the common Northwest corner of said Lot 1, Southwest corner of a roadway easement dedicated by said plat of Beltwood Reservoir, and Southeast corner a 60 foot wide right of way dedication as evidenced by the plat of Addison Restaurant Park, an addition to the Town of Addison, dated March 9, 1988 and recorded in Volume 88066, Page 4219 of said Deed Records, said point also being in the East line of said Addison Restaurant Park, and the East line of a called 4.1525 acre tract conveyed to Heritage Inn Number XIII dated January 24, 1997 and recorded in Volume 97018, Page 00073 of said Deed Records; THENCE, NORTH 00 0 12' 19" EAST (called SOUTH 00°49' 37" WEST), along the common West line of said called 19.01 acre tract and East lines of said Addison Restaurant Park and said called 4.1525 acre tract, a distance of 21.00 feet to a point in a curve of the proposed South Right of Way line of Arapaho Road for the Northwest corner and POINT OF BEGINNING of the herein described tract; THENCE, NORTHEASTERLY, departing said common line and along said proposed South Right of Way line of Arapaho Road and along said curve to the left, having a radius of 1,177.92 feet, a central angle of 4°03'26", a chord bearing North 68°23'47' East for 83.39 feet, for an arc distance of 83.41 feet to the point of tangency of said curve; THENCE, NORTH 66°22'04" EAST, continuing along said proposed South Right of Way line of Arapaho Road, a distance of 30.71 feet to a point for corner in the South line of said roadway easement; 24 LEGAL DESCRIPTION PARCEL 4-TE -ARAPAHO ROAD PROJECT THENCE, SOUTH 23°37' 56" EAST, departing said line, a distance of 10.00 feet to a point for corner; THENCE, SOUTH 66°22'04" WEST, a distance of 30.71 feet to the point of curvature of a tangent curve to the right; THENCE, SOUTWESTERLY, along the arc of said curve to the right having a radius of 1,187.92, a central angle of 04 ° 13' 50", a chord bearing South 68°28' 59" West for 87.69 feet, for an arc 􀁾􀁩􀁳􀁴􀁡􀁮􀁣􀁥􀀠of 87.71 feet to a point for corner in the common West line of said called 19.01 acre tract and East lines of said Addison Restaurant Park and said called 4.1525 acre tract; THENCE, NORTH 00°12'19" EAST (called SOUTH 00°49'37" WEST), along said common line, a distance of 10.62 feet to the POINT OF BEGINNING; CONTAINING an area of 0.0267 acres or 􀀱􀀬􀁾􀀶􀀳􀀠square feet of land within the metes recited. All bearings are referenced to the North Right of Way line of Centurion Way, called S 89°51'55" E, according to the final plat of Lot 3, Surveyor Addition, recorded in Vol. 77173, Page 135, Deed Records of Dallas County, Texas. A plat of even survey date herewith accompanies this description. I, Ayub R. Sandhu, a Registered Professional Land Surveyor, hereby certify that the legal description hereon and the accompanying plat represent an actual survey made on the ground under my supervision. 􀁾􀀩􀀨􀀧􀀮􀀠􀁾􀀷􀀭􀁾􀁲􀁯􀀭􀁯􀀯􀀠A b R. Sandhu, R.P.L.S. Texas Registration No. 2910 25 ANALYSIS AND VALUATION OF PROPOSED ACQUISITION AREA The Proposed Acquisition According to the attached surveyor's field notes, the proposed acquisition area contains 1,114 SF for the new alignment and construction ofArapaho Road. The location, dimensions and shape of the proposed acquisition area are shown on the Acquisition Map exhibit page(s}. The proposed acquisition area is located at the rear (northern) portion ofthe subject parent tract. The acquisition will reduce the subject parent tract infinitesimally, or approximately .01 %. The area to be acquired is at the back of the property, at the most remote area of the parent tract. No improvements will be affected. There is fencing in this are, and the assumption is made that the Town of Addison will relocate the fencing, plus provide interim temporary fencing during the thoroughfare construction term. Property rights being appraised in this acquisition area are fee simple. Considering the Highest and Best Use of the proposed acquisition area, the standard sequential tests; physically possible, legallyperrnissible, economically feasible, and maximally productive were analyzed. Because ofthe unique size and shape characteristics ofthe proposed acquisition area it has no potential for independent utility separate from the parent tract. Therefore, the highest and best use of the proposed acquisition area is as a part of the whole parent tract. Review ofthe accompanying photographs confirms that the proposed acquisition route does not affect the remainder property. The land value is based on $9.00 SF which is supported by the sales data and analysis presented on the preceding pages ofthis report. Landscape Within proposed ROW acquisition area, there is some grass. The assumption is made that the Town of Addison will make some acceptable arrangement with the City ofDallas to replace the disturbed grass. Under this assumption, i.e., that there will be no requirement on the property owner to replace landscape, nor to meet minimum City requirements for landscape after the new road construction. Therefore, appraisal analysis indicates that there is no requirement to isolate the contributory value offound grass turf, and no compensation for landscape has been included. Therefore, taking all factors into consideration, the value ofthe proposed acquisition area can be calculated as follows: Arapaho Road ROW 1,114 SF x S9.00/SF $10,026 According to the attached surveyor's field notes, there is a proposed temporary construction easement of 1,163 SF for the proposed road construction. The TCE is located adjacent to, and on 26 Analysis and Valuation ofProposed Acquisition Area (Continued) the south side of, the proposed ROW acquisition area. The rights sought are temporary in nature. Topography ofthe proposed easement area is generally level. The net affect of the temporary construction easement will not permanently reduce the land size of the subject property. The purpose of the proposed temporary construction easement is to provide working area for the ingress, egress, and placement of construction machinery and excavation materials during the construction phase ofthis project. The period requested for the temporary construction easement is 1 year. The value ofthe easement is calculated as follows: Temporary Construction Easement (1,163 SF x $9.00/SF) = $1,467 Multiplied by the market competitive annual rate ofreturn of7% = $ 733 Value ofthe Remainder Before the Acquisition (LAND ONLY) The value ofthe Remainder Before the Acquisition is simply the mathematical difference between the value of the whole property less the value ofthe Proposed Acquisition Area. Therefore, the value ofthe Remainder Before the Acquisition can be calculated as follows: Whole Property Value (Land only) $7,500,000 Less: Value ofProposed Acquisition Area $ 10,026 Value ofthe Remainder Before the Acquisition $7,489,974 Value of the Remainder After the Acquisition As noted, the proposed acquisition area will be used for the widening and realignment ofArapaho Road. After the acquisition, the remaining site will continue to be an interior tract having similar accessibility and increased visibility. The remaining site will have similar highest and best use as before the acquisition. In developi";g the analysis ofthe Remainder Highest and Best Use and estimating the value after the acquisition, several questions were formulated and answered through the combined sources of: analysis ofthe Right ofWay Acquisition Map, the engineering design and construction plans, the Town of Addison Department of Engineering, and consultation with locally knowledgeable consultants. The answers to specific questions, combined with the analysis ofthe undersigned land rights appraiser, were subsequently applied to market reaction observations and data introduced by the appraiser to finalize remainder impact conclusions. Following are some of the considerations in the valuation ofthe remainder after the proposed acquisition(Remainder After). 27 Analysis and Valuation ofProposed Acquisition Area (Continued) 1) Will the remainder property comply with. zoning regulations? Yes, it appears the remainder site will be a legal conforming use under current zoning. 2) Will the remainder property have access to new Arapaho Road? Ifthe term 'Access' is used as a legal term, the answer is yes'. If'access' is envisioned as a new driveway to the new road, the answer is 'No, atthis time', as it appears that the new Arapaho Roadwill be a limited access route, and no access in theform ofmatching drive entrances will be constructed. In thefuture, however, ifthe subjectproperty is redeveloped to another use, the plattingprocesswillfacilitatefuture driveway entrances. Atthe current time, no facilitated access seems to be needed, nor would access benefit the subject property. 3) What is the grade ofthe new Arapaho Road adjacent to the subject property? Very near the existing natural grade ofthe surrounding area. 4) Are there any direct benefits as a result of this project? Yes, the subject remainder property will be a relatively large 19 acre tract oflandbordered on both the north and south sides by very prominent thoroughfares. Therefore, there would be increased access potential as a result ofadjacency to the new Arapaho Road, subject to the approval ofthe construction ofa driveway entrance on the new road. Th.erefore in th.e final analysis, the market ofthe remainder subject property after the acquisition and realignment of Arapaho Road is no less than the value before the acquisition and reconstruction. 28 RECAPITULATION A recapitulation ofthe pertinent values ofthe whole property, the proposed acquisition area, the remainder before and after the acquisition are depicted below: Value ofthe Whole Property (Land Only) $7,500,000 less: Value ofthe Proposed Acquisition Area $ 10,026 equals: Value ofthe Remainder Before the Acquisition (Land Only) $7,489,974 Value ofthe Remainder After the Acquisition (Land Only) $7,489,974 plus: Value ofthe Improvements in Acquisition Area $ -0plus: Temporary Construction Easement $ 733 equals: Total Compensation $ 10,859 29 L AFFIDAVIT AND CERTIFICATE OF VALUE The undersigned does hereby certifY that, except as otherwise noted in this appraisal report: We have personally inspected the subject property. 2. We have no present or contemplated future interest in the real estate that is the subject of our evaluation. 3. We have no personal interest or bias with respect to the subject matter ofthis evaluation or the parties involved. 4. To the best of our knowledge and belief, we have included only truthful statements offact in this report; and the analysis, opinions and conclusions expressed herein are true and correct and no pertinent information has knowingly been withheld. 5. The compensation for our professional service is not contingent upon the reporting of a predetermined value or direction in value that favors the cause ofthe client, the amount of the value estimate, the attainment of a stipulated result, or the occurrence of a subsequent event. 6. The analyses, opinions and conclusions in the report are limited only by the the assumptions and limiting conditions set furth, and are the personal, unbiased, professional analyses, opinions and conclusions ofthe appraiser. 7. The development ofthe herein expressed value opinions have been made in conformity with, and is subject to the requirements of the Uniform Standards of Professional Appraisal Practice adopted by both the Appraisal Institute and the International Right of Way Association and can be supported by internal file inspection. 8. No persons other than the undersigned prepared the analyses, conclusions and opinions concerning real estate that are set forth in this appraisal report. 9) This document is hereby communicated to the original client named in the transmittal letter for the privileged use that client and their selected distribution. It is understood that most appraisal products are prepared to be a tool for some financial decision purpose. With this understanding, it should be noted that this report was obtained from Evaluation Associates, who owns the data and the detailed file memorandum, notes, etc., which may consist oftrade secrets and commercial or finanCial information that is privileged and confidential and 30 Affidavit and Certificate of Value exempt from disclosure under 5 U.S.C. 552 (b) (4). Therefore, please notify Evaluation Associates ofany request ofreproduction ofthis appraisal. 10) The act ofpreparation and submission ofthis report to the public in the form ofthe original client, simultaneously makes this report subject to the professional requirements of the Appraisal Institute and the International Right ofWay Association regarding review by its duly authorized representatives. 11) The Appraisal Institute conducts both mandatory and voluntary programs of continuing education for their designated members depending upon the date of the conferring of the specific professional designation.. Designated members who meet the minimum standards for these programs are awarded periodic educational certification. James W. Cullar, Jr., and Richard N. Baker are currently certified under their respective and applicable programs. 12) This Appraisal is classified as Limited in Scope and is presented in Summary Format. 13) The market derived value of the proposed acquisition areas as of October 5, 2002 is estimated to be: TEN THOUSAND EIGHT HUNDRED FIFTY NINE DOLLARS ($10,859) . CWill,. 􀁊􀁾􀀻􀀮􀁾􀁪􀁲􀀠 31 EVALUATION ASSOCIATES Right of Way Land Rights Appraisal and Acquisition Solutions James W. Cullar, Jr., SRPA, SRA, SRIWA Qualifications and Professional Background EDUCATION Graduate of North Texas State University, BBA 1967 All courses, demonstration appraisal reports, professional experience, and quality reviews required for the three professional designations awarded from 1969 to current time. PROFESSIONAL EXPERIENCE Founder and general manager ofEvaluation Associates, a real property consulting and land rights acquisition firm, providing a variety of real property evaluation services for the financial market, public land rights acquiring agencies, and individuals seeking decision making information for mortgage lending, asset review, right ofway land rights acquisition and related matters. Jim Cullar has qualified as an expert witness in county, state and federal courts in Dallas, Tarrant, Collin, Denton, Ellis, Grayson, and Travis Counties. Prior to founding Evaluation Associates, Jim was a lender and and appraiser with a large financial institution; and later the chiefappraiser with the Right of Way Division of the Dallas County Department of Public Works. He has been a self employed consultant since 1985. Jim keeps abreast of industry change through reading, continuing education, teaching, forum discussion, and publication. PROFESSIONAL AFFILIATIONS The Appraisal Institute SRPA, SRA Member designation Past President -North Texas Chapter 1995 Member National Board ofDirectors -1997 -1999 National Finance Committee 1998-1999 Chair -Region VIII 1999 International Right of Way Association (IRIWA Region 2) SRIW A Designation Certified Instructor of: Real Estate Appraisai Principles Income Approach to Valuation Appraisal ofPartial Acquisition Easement Evaluation State Certified General Texas Real Estate Appraiser -TX -1321322 G 32 EVALUATION ASSOCIATES rught of Way Land rughts Appraisal and Acquisition Solutions RICHARD N. BAKER, MAl Qualifications and Professional Background EDUCATION Graduate ofTexas Tech University· Masters ofBusiness Administration -May 1985. Graduate of Southern Methodist University· Bachelor of Arts -Bachelor of Business Administration -May 1983 All courses, demonstration appraisal reports, professional experience, and quality reviews required for the MAl professional designation awarded 1996. RECENT ACCREDITED APPRAISALGQURSES and SEMINARS Highest and Best Use Applications (November 1999) Standards ofProfessional Practice, Part C (March 1998) Dynamics ofOffice Building Valuation (November 1997) PROFESSIONAL EXPERIENCE Appraisal experience includes the analysis and preparation of comprehensive narrative appraisal reports, evaluating a variety of interests in numerous property types including multi-family residential, industrial, office, retail, rural and urban land, special purpose properties, right-of-way land land rights acquisition matters, special benefits I enhancement studies, and related consultation issues. Appraisal work product has been accepted and utilized for mortgage lending, estate tax planning and settlement, property exchange, corporate management decisions, road and thoroughfare improvement assessment programs, and partial acquisition valuation for just compensation analysis by eminent domain acquiring agencies. PROFESSIONAL DESIGNATIONS and AFFILIATIONS MAl -The Appraisal Institute #10984 State Certified Real Estate Appraiser-General #13220 12-G Texas Real Estate Salesman -Inactive APPRAISAL INSTITUTE LEADERSHIP CONTRIBUTION Candidate Guidance Chair -North Texas Chapter -1998 Web Site Committee Chair -North Texas Chapter -2000 -2001 Regional Representative -Region VIII -2000 -2001 Region Representative to National Technology Outreach Committee 1999 -2001 North Texas Chapter -Member Board ofDirectors -2001 -2003 33 ADDENDUM 34 ASSUMPTIONS, LIMITING CONDITIONS & DISCLOSURES VALUE ·! 9. Also, the value is estimated under the assumption that there willbe no international or domestic, political, economic, or military actions that will seriously affect real estate values throughout the country. 10. Real estate values are influenced by a large number of extemaI factors. The analysis included all ofthe data necessary to form an informed highest and best use and value conclusion. The report does not include all the data necessary to support the value estimate. All pertinent facts have been .referenced in this report, but we do not guarantee that we have knowledge of all factors that might influence the value ofthe subject. Due to rapid changes in the external factors, the value estimate is considered reliable only as of the date of the appraisal and any related testimony" 11. In the event the appraisal is based upon proposed improvements, it is assumed that the improvements will be constructed in substantial confonnity with plans and specifications that have been furnished the appraiser, and with good materials and workmanship. It is also assumed that the proposed foundation and construction techniques are adequate for the existing sub-soil conditions. 12. Unless otherwise stated in this report, the existence ofenvironmentally hazardous or damaging material, which mayor may not be present on the property, was not observed by the appraiser. The appraiser has no knowledge ofthe existence ofsuch materials on or in the property. The appraiser, however, is not qualified to detect such substances. The presence ofsubstances such as asbestos or urea-formaldehyde may affect the value ofthe property. The value estimate is predicted on the assumption that there is no such material on or in the property that would cause such a loss in value. No responsibility is assumed for any such conditions, or for any expertise or engineering knowledge required to discover them. The client, property owner and/or prospective purchaser is advised to conduct environmental due diligence with regard to the property including having the necessary environmental assessments and/or environmental audits made to detennine ifany environmental problems related to the subject property exist. Ifany environmental problems are found which effect the subject property, the value estimate contained in this report is subject to review and may not be valid. 13. The American and Disabilities Act (ADA) became effective January 26, 1992. I (we) have not made a specific compliance survey and analysis ofthis property to detennine whether or not it is in confonnity with the various detailed requirements of the ADA It is possible that a compliance survey ofthe property together with a detailed analysis ofthe requirements ofthe ADA could reveal that the property is not in compliance with one or more ofthe requirements ofthe act. Ifso, this mct could have a negative effect upon the value of the property. Since I (we) have no direct evidence relating to this issue, I (we) did not consider possible noncompliance with the requirements ofADA in estimating the value ofthe property. , .i . i DEFINITION OF TERMS l. Market Value: The most probable price that a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation ofa sale as of a specified date and the passing oftitle from seller or buyer under conditions whereby: a. buyer and seller are typically motivated; b. both parties are well informed or well advised, and each acting in what they consider their best interest; c. a reasonable time is allowed for exposure in the open market; d. payment is made in cash in U.S. dollars or in terms offinancial arrangements comparable thereto; and e. the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. 2. Value in Use: The value of an economic good to its owner-user which is based on the productivity (privacies in income, utility or amenity form) ofthe economic good to a specific individual. 3. Highest and Best Use: The most profitable likely use to which a property can be put. That use of land which may reasonably be expected to produce the greatest net return to land over a period oftime. That legal use which will yield to land the highest present value. 4. Abbreviations commonly used in the appraisal of real estate: SF square feet RR railroad lAC per acre ROW = right ofway 5. Vehicular traffic artery abbreviations: St. = Street FM = Farm to Market Rd Ln = Lane US United States Highway Dr = Drive I = Interstate Highway Rd Road Frwy = Freeway PI == Place Expwy= Expressway Pkwy = Parkway Hwy = Highway Ave = Avenue SH State Highway Blvd Boulevard N = North Cir Circle S = South Ct = Court E = East Mt. = Mount W = West I . ,. , i ! .EVALUATION . ISSOCIATES=== .