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HomeMy WebLinkAboutRes 2015-05-04 Deed of Charles K Green land.pdfCITY OF ANNA, TEXAS RESOLUTION NO. 2015-05-04 A RESOLUTION OF THE CITY OF ANNA, TEXAS APPROVING A PURCHASE AND SALE AGREEMENT WITH CHARLES K. GREEN FOR THE PURCHASE OF LAND ON POWELL PARKWAY. WHEREAS, the City of Anna, Texas (the "City") has negotiated an agreement for the purchase of a 3.5 acre tract of land located on Powell Parkway (the "Property"), and; WHEREAS, the City Council of the City of Anna, Texas (the "City Council") finds that the purchase of the Property will benefit the City and is in the best interests of the citizens of Anna; NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ANNA, TEXAS, THAT: Section 1. Recitals Incorporated. The recitals above are incorporated herein as if set forth in full for all purposes. Section 2. Approval of Land Purchase and Sale Agreement. The City Council hereby approves the Purchase and Sale Agreement attached hereto as Exhibit 1, and authorizes, ratifies and approves the City Manager's execution of same. The City Manager is hereby authorized to execute all documents and to take all other actions necessary to finalize, act under, and enforce the Agreement. PASSED AND APPROVED by the City Council of the City of Anna, Texas, on this the 12th day of May, 2015. ATTEST: Mirenda McQuagge-Walden, Acting City Secretary APPROVED: /////� 9, � Mayor, Mike Crist CITY OF ANNA, TEXAS RESOLUTION NO. 2015-05-04 PAGE 1 OF 1 X q R � .f -c) I t 421 North Crockett Street Sherman, Texas 75090 (903) 868-4446 • Fax (903) 868-4314 www.redrivertitle.com September 2, 2015 CITY OF ANNA,. TEXAS, a municipal corporation 111 N. POWELL PKWY. ANNA, TX 75409 RE; Our file no. 0119911 Purchase of N. POWELL PKWY., ANNA, TX 75409 Your Closer's Name; Shawn M. KinCannon Dear CITY OF ANNA; In connection with the closing of your recent transaction in our office, we are pleased to enclose your Owner's Title Policy along with the original recorded Warranty Deed. We suggest you place these original documents in safekeeping for future reference. Red River Title Company maintains a permanent file on your property. This will enable us to provide you with prompt service in the event you decide to sell or mortgage your property. Please contact us to expedite any subsequent transaction of your choosing. If the property taxes for the current year were not paid at the time your transaction closed, you should pay them at the end of the year. Also, we suggest you contact the Collin County Appraisal District to be certain ownership has been established in your name. We also suggest you request the necessary forms to establish any exemptions you might be entitled to. In that regard, the filing for a homestead and/or any other exemption is free of charge and may be done by internet in most counties. We want to thank you for the opportunity to provide our services for your transaction. If you have any questions regarding your closing, please do not hesitate to call the closer referenced above. Also, you may call me with any questions regarding your title policy. Sincerely, / f` Tina Watson Policy Department twatson@redrivertitle.com OWNER'S POLICY OF TITLE INSURANCE (FORM T- A L L I A N T AT I O N A L ISSUED BY: ALLIANT NATIONAL TITLE INSURANCE COMPW T I T L E I N S U Q A N C E C 0 H D A N V POLICY NUMBER: 1025900 Any notice of claim and any other notice or statement in writing required to be given to the Company under this Policy must be given to the Company at the address shown In Section 18 of the Conditions. COVERED RISKS SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B, AND THE CONDITIONS, ALLIANT NATIONAL TITLE INSURANCE COMPANY, a Colorado corporation (the "Company") insures, as of Date of Policy and, to the extent stated in Covered Risks 9 and 10, after Date of Policy, against loss or damage, not exceeding the Amount of Insurance, sustained or incurred by the Insured by reason of: 1. Title being vested other than as stated in Schedule A. 2. Any defect in or lien or encumbrance on the Title. This Covered Risk includes but is not limited to insurance against loss from (a) A defect in the Title caused by (i) forgery, fraud, undue influence, duress, incompetency, incapacity, or impersonation; (ii) failure of any person or Entity to have authorized a transfer or conveyance; (iii) a document affecting Title not properly created, executed, witnessed, sealed, acknowledged, notarized, or delivered; (iv) failure to perform those acts necessary to create a document by electronic means authorized by law; (v) a document executed under a falsified, expired, or otherwise invalid power of attorney; (vi) a document not properly filed, recorded, or indexed in the Public Records including failure to perform those acts by electronic means authorized by law; or (vii) a defective judicial or administrative proceeding. (b) The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable, but unpaid. (c) Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land. The term "encroachment" includes encroachments of existing improvements located on the Land onto adjoining land, and encroachments onto the Land of existing improvements located on adjoining land. (d) Any statutory or constitutional mechanic's, contractor's, or materialman's lien for labor or materials having its inception on or before Date of Policy. Lack of good and indefeasible Title. No right of access to and from the Land. The violation or enforcement of any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to: (a) the occupancy, use, or enjoyment of the Land; (b) the character, dimensions, or location of any improvement erected on the Land; (c) the subdivision of land; or (d) environmental protection if a notice, describing any part of the Land, is recorded in the Public Records setting forth the violation or intention to enforce, but only to the extent of the violation or enforcement referred to in that notice. 6. An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement action, describing any part of the Land, is recorded in the Public Records, but only to the extent of the enforcement referred to in that notice. 7. The exercise of the rights of eminent domain if a notice of the exercise, describing any part of the Land, is recorded in the Public Records. 8. Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge. 9. Title being vested other than as stated in Schedule A or being defective: (a) as a result of the avoidance in whole or in part, or from a court order providing an alternative remedy, of a transfer of all or any part of the title to or any interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because that prior transfer constituted a fraudulent or preferential transfer under federal bankruptcy, state insolvency, or similar creditors' rights laws; or (b) because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal bankruptcy, state insolvency, or similar creditors' rights laws by reason of the failure of its recording in the Public Records (i) to be timely, or . (ii) to impart notice of its existence to a purchaser for value or to a judgment or lien creditor. 10. Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or attached or has been filed or recorded in the Public Records subsequent to Date of Policy and prior to the recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. The Company will also pay the costs, attorneys' fees, and expenses incurred in defense of any matter insured against by this Policy, but only to the extent provided in the Conditions. IN WITNESS WHEREOF, ALLIANT NATIONAL TITLE INSURANCE COMPANY, has caused this policy to be signed and sealed as of the Date of Policy shown in Schedule A, the policy to become valid when countersigned by an authorized signatory of the company. Countersigned; Red River Title Company 421 North Crockett Street Sherman, TX 75090 BY�- Authorized Agent or Officer TX Form T-1 Owner's Policy of Title Insurance ANTIC # 932 ALLIANT NATIONAL TITLE INSURANCE COMPANY �b €sy: SEAL Attest: oocOlt f OWNER'S POLICY OF TITLE INSURANCE (Form T-1) Issued by ALLIANT NATIONAL TITLE INSURANCE COMPANY SCHEDULE A Name and Address of Title Insurance Company: ALLIANT NATIONAL TITLE INSURANCE COMPANY File No.: 0119911 Address for Reference only: N. POWELL PKWY., ANNA, TX 75409 Amount of Insurance: $225,000.00 Date of Policy: June 17, 2015, at 10:23 am 1. Name of Insured: CITY OF ANNA,TEXAS, a municipal corporation 2. The estate or interest in the Land that is insured by this policy is: FEE SIMPLE 3. Title is insured as vested in: CITY OF ANNA, TEXAS, a municipal corporation Policy No.: 1025900 Premium: $1,803.20 4. The land referred to in this policy is described as follows: BEING 3.500 ACRES OF LAND, MORE OR LESS, OUT OF Z. F. LESTER SURVEY, ABSTRACT NO. 546, COLLIN COUNTY, TEXAS, AND BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS IN EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF. Form T-1: Owner's Policy of Title Insurance Page 1 EMBIT "A" - ISH GAL DESCRIPTION TRACT ONE - BEING all of that certain 3.501 acre tract of land situated In Collin County, Texas, in the Z.F. Lester Survey, Abstract No_ 546 and being a re -survey of a called 3.50 acre tract of land described in a Warranty Deed with Vendor's Lien recorded In Volume 3880, Page 124 of the Collin County Deed Records, and being more particularly described by metes and bounds as follows: BEGINNING at a 1/2 Inch iron rod found in the center of County Road No. 373 at it's intersection with the West line of Stale Highway No, 5, being the Northeast corner of said 3.50 acre tract and the Southeast corner of a called 27.387 acre tract of land described as Tract 7 in a Special Warranty Deed recorded in Volume 5680, Page 5000 of said deed records, said found 112 inch iron rod being the Northeast corner hereof; THENCE South 23 degrees 15 minutes 02 seconds East along the West line of State Highway No. 5 and the East line of said 3.50 acre tract at 32.78 feet pass over a 1/2 inch iron rod found on the South side of County Road 373 and continuing for a total distance of 280.84 feet to a 518 inch iron rod set at the Southeast corner thereof, said point being the Northeast corner of a called 3.50 acre tract of land described as Tract One in a Warranty Deed recorded at County Clerk File No. 96-0092409 in said deed records, from which a 1/2 inch iron rod found at a pipe fence comer at the Southeast corner of a called 3.50 acre tract of land described as Tract Two bears South 23 degrees 15 minutes 00 seconds East, 450.45 feet, said set 5/8 inch iron rod being the Southeast corner hereof; THENCE South 89 degrees 59 minutes 13 seconds West along the South line of said 3.50 acre tract and the North line of said 3.50 acre Tract One, at 1.40 feet pass 0.20 feet North of a pipe fence corner post and continuing generally along a fence a total distance of 646,67 feet to a 1/2 inch iron rod found at a wood fence corner post at the common West corner thereof, said point being in the East line of a called 3,10 acre tract of land described in a Warranty Deed recorded in Volume 4505, Page 1941 of said deed records, said found 1/2 inch iron rod being the Southwest corner hereof; THENCE North 00 degree 22 minutes 06 seconds East along the West line of said 3.50 acre tract and the East line of said 3,10 acre tract at 228.64 feet pass over a 112 inch iron rod found (Geer 4117) on the South side of County Road 373 and continuing for a total distance of 258.65 feet to a point in the center of County Road 373 at the common North corner thereof, being In the South line of said 27.387 acre tract from which a 1/2 inch iron rod found at the Northwest corner of a called 15.935 acre tract of land described in a Special Warranty Deed recorded at County Clerk File No. 93-0050074 bears North 89 degrees 57 minutes 00 seconds West, 350,14 feel, said point In the center of County Road 373 being the Northwest corner hereof; THENCE South 89 degrees 57 minutes 00 seconds East along the center of County Road 373, the North line of said 3.50 acre tract and the South line of said 27.387 acre tract at 531,87 feet pass 0.4 feet South of a 1/2 inch iron rod found and continuing for a total distance of 534.15 feet to the Place of Beginning and being calculated to Contain 3.501 acres of land, (NOTE: COMPANY GOES 140T REPRESENT TW THE ABOVE hCPWirz AWOR SQUARE F001k E CALCULKIONS ARE CORRECT.) . OWNER'S POLICY OF TITLE INSURANCE (Form T-1) Issued by ALLIANT NATIONAL TITLE INSURANCE COMPANY SCHEDULE B File No.: 0119911 Policy No.: 1025900 EXCEPTIONS FROM COVERAGE This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) that arise by reason of the terms and conditions of the leases and easements, if any, shown in Schedule A, and the following matters: 2 Any dis panties eenflieta, ^r shortages in area or --boundary lines, or any enei!eaehments or- pr-otf iver-lapping ofimprovement&, 3. Homestead or community property or survivorship rights, if any, of any spouse of any Insured. 4. Any titles or rights asserted by anyone, including but not limited to, persons, the public, corporations, governments or other entities, (a) to tidelands, or lands comprising the shores or beds of navigable or perennial rivers and streams, lakes, bays, gulfs or oceans, or (b) to lands beyond the line of the harbor or bulkhead lines as established or changed by any government, or (c) to filled-in lands, or artificial islands, or (d) to statutory water rights, including riparian rights, or (e) to the area extending from the line of mean low tide to the line of vegetation, or the right of access to that area or easement along and across that area. 5. Standby fees, taxes and assessments by any taxing authority for the year 2015, and subsequent years; and subsequent taxes and assessments by any taxing authority for prior years due to change in land usage or ownership, but not those taxes or assessments for prior years because of an exemption granted to a previous owner of the property under Section 11. 13, Texas Tax Code, or because of improvements not assessed for a previous tax year. 6. The following matters and all terms of the documents creating or offering evidence of the matters (The Company must insert matters or delete this exception).: a. ALL LEASES, GRANTS, EXCEPTIONS OR RESERVATIONS OF COAL, LIGNITE, OIL, GAS, AND OTHER MINERALS, TOGETHER WITH ALL RIGHTS, PRIVILEGES, AND IMMUNITIES RELATING THERETO, APPEARING IN THE PUBLIC RECORDS WHETHER LISTED IN SCHEDULE B OR NOT. THERE MAY BE LEASES, GRANTS, EXCEPTIONS OR RESERVATIONS OF MINERAL INTEREST THAT ARE NOT LISTED. b. EASEMENT TO GRAYSON COLLIN ELECTRIC COOPERATIVE, INC. OF RECORD IN VOLUME 820, PAGE 101, REAL PROPERTY RECORDS, COLLIN COUNTY, TEXAS. C. EASEMENT SOUTH GRAYSON WATER SUPPLY CORPORATION OF RECORD UNDER COUNTY Form T-1: Owner's Policy of Title Insurance Page 2 Continuation of Schedule B Policy No. 1025900 CLERK NO. 96-92410, PROPERTY RECORDS, COLLIN COUNTY, TEXAS. d. ELECTRIC LINE, POWER POLES, SOUTH GRAYSON WATER SUPPLY CORPORATION EASEMENT, THAT PORTION OF THE SUBJECT PROPERTY WHICH LIES WITHIN THE BOUNDS OF A PUBLIC OR PRIVATE ROAD, SHOWN ON SURVEY DATED APRIL 18, 2015, PREPARED BY MICHAEL B. ARTHUR, RPLS #5685. e. RIGHTS OF PARTIES IN POSSESSION. Countersigned RED RIVER TITLE COMPANY Authorized Signer Form T-1: Owner's Policy of Title Insurance Page 3 EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys' fees, or expenses that arise by reason of: 1. (a) Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to: (i) the occupancy, use, or enjoyment of the Land; (ii) the character, dimensions, or location of any improvement erected on the Land; (iii) the subdivision of land; or (iv) environmental protection; or the effect of any violation of these laws, ordinances, or governmental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5. (b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 6, 2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. 3. Defects, liens, encumbrances, adverse claims, or other matters: (a) created, suffered, assumed, or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; (c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 9 and 10); or (e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title. 4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that the transaction vesting the Title as shown in Schedule A, is (a) a fraudulent conveyance or fraudulent transfer; or (b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy. 5. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. 6. The refusal of any person to purchase, lease or lend money on the estate or interest covered hereby in the land described in Schedule A because of Unmarketable Title. CONDITIONS 1. DEFINITION OF TERMS. (h) "Mortgage": mortgage, deed of trust, trust deed, or other security The following terms when used in this policy mean: instrument, including one evidenced by electronic means authorized by (a) "Amount of Insurance": The amount stated in Schedule A, as may law. be increased or decreased by endorsement to this policy, increased by (i) "Public Records": records established under state statutes at Section 8(b), or decreased by Sections 10 and 11 of these Conditions. Date of Policy for the purpose of imparting constructive notice of (b) "Date of Policy": The date designated as "Date of Policy" in matters relating to real property to purchasers for value and without Schedule A. Knowledge. With respect to Covered Risk 5(d), "Public Records" shall (c) "Entity": A corporation, partnership, trust, limited liability company, also Include environmental protection liens filed in the records of the or other similar legal entity. clerk of the United States District Court for the district where the Land (d) "Insured": The Insured named in Schedule A. is located. (i) The term "Insured" also includes Q) "Title": the estate or Interest described in Schedule A, (A) successors to the Title of the Insured by operation of law as (k) "Unmarketable Title": title affected by an alleged or apparent matter distinguished from purchase, including heirs, devisees, survivors, that would permit a prospective purchaser or lessee of the Title or personal representatives, or next of kin; lender on the Title to be released from the obligation to purchase, (B) successors to an Insured by dissolution, merger, consolidation, lease, or lend if there is a contractual condition requiring the delivery of distribution, or reorganization; marketable title. (C) successors to an Insured by its conversion to another kind of 2, CONTINUATION OF INSURANCE. Entity; The coverage of this policy shall continue in force as of Date of Policy (D) a grantee of an Insured under a deed delivered without payment of in favor of an Insured, but only so long as the Insured retains an estate actual valuable consideration conveying the Title; or interest in the Land, or holds an obligation secured by a purchase (1) if the stock, shares, memberships, or other equity interests of the money Mortgage given by a purchaser from the Insured, or only so grantee are wholly-owned by the named Insured, long as the Insured shall have liability by reason of warranties in any (2) if the grantee wholly owns the named Insured, transfer or conveyance of the Title. This policy shall not continue in (3) if the grantee is wholly-owned by an affiliated Entity of the named force in favor of any purchaser from the Insured of either (i) an estate Insured, provided the affiliated Entity and the named Insured are or interest in the Land, or (ii) an obligation secured by a purchase both wholly-owned by the same person or Entity, or money Mortgage given to the Insured. (4) if the grantee is a trustee or beneficiary of a trust created by a 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT. written instrument established by the Insured named in Schedule A The Insured shall notify the Company promptly in writing (i) in case of for estate planning purposes. any litigation as set forth in Section 5(a) of these Conditions, (ii) in case (ii) With regard to (A), (B), (C), and (D) reserving, however, all rights Knowledge shall come to an Insured hereunder of any claim of title or and defenses as to any successor that the Company would have had interest that is adverse to the Title, as insured, and that might cause against any predecessor Insured. loss or damage for which the Company may be liable by virtue of this (e) "Insured Claimant": an Insured claiming loss or damage, policy. If the Company is prejudiced by the failure of the Insured (f) "Knowledge" or "Known": actual knowledge, not constructive Claimant to provide prompt notice, the Company's liability to the knowledge or notice that may be imputed to an Insured by reason of Insured Claimant under the policy shall be reduced to the extent of the the Public Records or any other records that impart constructive notice prejudice. of matters affecting the Title. When, after the Date of Policy, the Insured notifies the Company as (g) "Land": the land described in Schedule A, and affixed required herein of a lien, encumbrance, adverse claim or other defect improvements that by law constitute real property. The term "Land" in Title insured by this policy that is not excluded or excepted from the does not include any property beyond the lines of the area described in coverage of this policy, the Company shall promptly investigate the Schedule A, nor any right, title, interest, estate, or easement in abutting charge to determine whether the lien, encumbrance, adverse claim or streets, roads, avenues, alleys, lanes, ways, or waterways, but this defect or other matter is valid and not barred by law or statute. The does not modify or limit the extent that a right of access to and from the Company shall notify the Insured in writing, within a reasonable time, Land is insured by this policy. of its determination as to the validity of the Insured's claim or charge TX Form T-1 Owner's Policy of Title Insurance ANTIC # 932 under the policy, If the Company concludes that the lien, encumbrance, adverse claim or defect is not covered by this policy, or was otherwise addressed in the closing of the transaction in connection with which this policy was issued, the Company shall specifically advise the Insured of the reasons for its determination. If the Company concludes that the lien, encumbrance, adverse claim or defect is valid, the Company shall take one of the following actions: (i) institute the necessary proceedings to clear the lien, encumbrance, adverse claim or defect from the Title as insured; (ii) indemnify the insured as provided in this policy; (iii) upon payment of appropriate premium and charges therefore, issue to the Insured Claimant or to a subsequent owner, mortgagee or holder of the estate or interest in the Land insured by this policy of title insurance without exception for the lien, encumbrance, adverse claim or defect, said policy to be in an amount equal to the current value of the Land or, if a loan policy, the amount of the loan; (iv) indemnify another title insurance company in connection with its issuance of a policy(ies) of title insurance without exception for the lien, encumbrance, adverse claim or defect; (v) secure a release or other document discharging the lien, encumbrance, adverse claim or defect; or (vi) undertake a combination of (i) through (v) herein. 4. PROOF OF LOSS. In the event the Company is unable to determine the amount of loss or damage, the Company may, at its option, require as a condition of payment that the Insured Claimant furnish a signed proof of loss. The proof of loss must describe the defect, lien, encumbrance, or other matter insured against by this policy that constitutes the basis of loss or damage and shall state, to the extent possible, the basis of calculating the amount of the loss or damage. 5. DEFENSE AND PROSECUTION OF ACTIONS. (a) Upon written request by the Insured, and subject to the options contained in Sections 3 and 7 of these Conditions, the Company, at its own cost and without unreasonable delay, shall provide for the defense of an Insured in litigation in which any third party asserts a claim covered by this policy adverse to the Insured. This obligation is limited to only those stated causes of action alleging matters insured against by this policy. The Company shall have the right to select counsel of its choice (subject to the right of the Insured to object for reasonable cause) to represent the Insured as to those stated causes of action. It shall not be liable for and will not pay the fees of any other counsel. The Company will not pay any fees, costs, or expenses incurred by the Insured in the defense of those causes of action that allege matters not insured against by this policy. (b) The Company shall have the right, In addition to the options contained in Sections 3 and 7 of these Conditions, at its own cost, to institute and prosecute any action or proceeding or to do any other act that in its opinion may be necessary or desirable to establish the Title, as insured, or to prevent or reduce loss or damage to the Insured. The Company may take any appropriate action under the terms of this policy, whether or not it shall be liable to the Insured. The exercise of these rights shall not be an admission of liability or waiver of any provision of this policy. If the Company exercises its rights under this subsection, it must do so diligently, (c) Whenever the Company brings an action or asserts a defense as required or permitted by this policy, the Company may pursue the litigation to a final determination by a court of competent jurisdiction, and it expressly reserves the right, in Its sole discretion, to appeal any adverse judgment or order. 6. DUTY OF INSURED CLAIMANT TO COOPERATE. (a) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding and any appeals, the Insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, including the right to use, at its option, the name of the Insured for this purpose. Whenever requested by the Company, the Insured, at the Company's expense, shall give the Company all reasonable aid (i) in securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and (ii) in any other lawful act that in the opinion of the Company may be necessary or desirable to establish the Title or any other matter as insured. If the Company is prejudiced by the failure of the Insured to furnish the required cooperation, the Company's obligations to the Insured under the policy shall terminate, including any liability or obligation to defend, TX Form T-1 Owner's Policy of Title Insurance ANTIC # 932 prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. (b) The Company may reasonably require the Insured Claimant to submit to examination under oath by any authorized representative of the Company and to produce for examination, inspection, and copying, at such reasonable times and places as may be designated by the authorized representative of the Company, all records, in whatever medium maintained, including books, ledgers, checks, memoranda, correspondence, reports, e-mails, disks, tapes, and videos whether bearing a date before or after Date of Policy, that reasonably pertain to the loss or damage. Further, if requested by any authorized representative of the Company, the Insured Claimant shall grant its permission, in writing, for any authorized representative of the Company to examine, inspect, and copy all of these records in the custody or control of a third party that reasonably pertain to the loss or damage. All information designated as confidential by the Insured Claimant provided to the Company pursuant to this Section shall not be disclosed to others unless, in the reasonable judgment of the Company, it is necessary in the administration of the claim. Failure of the Insured Claimant to submit for examination under oath, produce any reasonably requested information, or grant permission to secure reasonably necessary information from third parties as required in this subsection, unless prohibited by law or governmental regulation, shall terminate any liability of the Company under this policy as to that claim. 7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY. In case of a claim under this policy, the Company shall have the following additional options: (a) To Pay or Tender Payment of the Amount of Insurance. To pay or tender payment of the Amount of Insurance under this policy together with any costs, attorneys' fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment or tender of payment and that the Company is obligated to pay. Upon the exercise by the Company of this option, all liability and obligations of the Company to the Insured under this policy, other than to make the payment required in this subsection, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation. (b) To Pay or Otherwise Settle With Parties Other Than the Insured or With the Insured Claimant. (i) to pay or otherwise settle with other parties for or in the name of an Insured Claimant any claim insured against under this policy. In addition, the Company will pay any costs, attorneys' fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay; or (ii) to pay or otherwise settle with the Insured Claimant the loss or damage provided for under this policy, together with any costs, attorneys' fees, and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay. Upon the exercise by the Company of either of the options provided for in subsections (b)(i) or (ii), the Company's obligations to the Insured under this policy for the claimed loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation. 8. DETERMINATION AND EXTENT OF LIABILITY. This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the Insured Claimant who has suffered loss or damage by reason of matters insured against by this policy. (a) The extent of liability of the Company for loss or damage under this policy shall not exceed the lesser of: (i) the Amount of Insurance; or (ii) the difference between the value of the Title as insured and the value of the Title subject to the risk insured against by this policy. (b) If the Company pursues its rights under Sections 3 and 5 of these Conditions and Is unsuccessful in establishing the Title, as insured, (i) the Amount of Insurance shall be increased by 10%, and (ii) the Insured Claimant shall have the right to have the loss or damage determined either as of the date the claim was made by the Insured Claimant or as of the date it is settled and paid. (c) In addition to the extent of liability under (a) and (b), the Company will also pay those costs, attorneys' fees, and expenses incurred in accordance with Sections 5 and 7 of these Conditions. 9. LIMITATION OF LIABILITY. CONDITIONS (con't) (a) If the Company establishes the Title, or removes the alleged defect, lien, or encumbrance, all as insured, or takes action in accordance with Section 3 or 7, in a reasonably diligent manner by any method, including litigation and the completion of any appeals, it shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or damage caused to the Insured. (b) In the event of any litigation, including litigation by the Company or with the Company's consent, the Company shall have no liability for loss or damage until there has been a final determination by a court of competent jurisdiction, and disposition of all appeals, adverse to the Title, as insured. (c) The Company shall not be liable for loss or damage to the Insured for liability voluntarily assumed by the Insured in settling any claim or suit without the prior written consent of the Company. 10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF LIABILITY. W, 13 14 All payments under this policy, except payments made for costs, attorneys' fees, and expenses, shall reduce the Amount of Insurance by the amount of the payment, LIABILITY NONCUMULATIVE. The Amount of Insurance shall be reduced by any amount the Company pays under any policy insuring a Mortgage to which exception is taken in Schedule B or to which the Insured has agreed, assumed, or taken subject, or which is executed by an Insured after Date of Policy and which is a charge or lien on the Title, and the amount so paid shall be deemed a payment to the Insured under this policy. PAYMENT OF LOSS. When liability and the extent of loss or damage have been definitely fixed in accordance with these Conditions, the payment shall be made within 30 days. RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT. (a) Whenever the Company shall have settled and paid a claim under this policy, it shall be subrogated and entitled to the rights of the Insured Claimant in the Title and all other rights and remedies in respect to the claim that the Insured Claimant has against any person or property, to the extent of the amount of any loss, costs, attorneys' fees, and expenses paid by the Company. If requested by the Company, the Insured Claimant shall execute documents to evidence the transfer to the Company of these rights and remedies The Insured Claimant shall permit the Company to sue, compromise, or settle in the name of the Insured Claimant and to use the name of the Insured Claimant in any transaction or litigation involving these rights and remedies. If a payment on account of a claim does not fully cover the loss of the Insured Claimant, the Company shall defer the exercise of its right to recover until after the Insured Claimant shall have recovered its loss. (b) The Company's right of subrogation includes the rights of the Insured to indemnities, guaranties, other policies of insurance, or bonds, notwithstanding any terms or conditions contained in those instruments that address subrogation rights. ARBITRATION. Either the Company or the Insured may demand that the claim or controversy shall be submitted to arbitration pursuant to the Title Insurance Arbitration Rules of the American Land Title Association ("Rules'). Except as provided in the Rules, there shall be no joinder or consolidation with claims or controversies of other persons, Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the Insured arising out of or relating to this policy, any service in connection with its issuance or the breach of a policy provision, or to any other controversy or claim arising out of the transaction giving rise to this policy. All arbitrable matters when the TX Form T-1 Owner's Policy of Title Insurance ANTIC # 932 Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured, unless the Insured is an individual person (as distinguished from an Entity). All arbitrable matters when the Amount of Insurance is in excess of $2,000,000 shall be arbitrated only when agreed to by both the Company and the Insured. Arbitration pursuant to this policy and under the Rules shall be binding upon the parties. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court of competent jurisdiction. 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT. (a) This policy together with all endorsements, if any, attached to it by the Company is the entire policy and contract between the Insured and the Company. In interpreting any provision of this policy, this policy shall be construed as a whole. (b) Any claim of loss or damage that arises out of the status of the Title or by any action asserting such claim shall be restricted to this policy. (c) Any amendment of or endorsement to this policy must be in writing and authenticated by an authorized person, or expressly incorporated by Schedule A of this policy. (d) Each endorsement to this policy issued at any time is made a part of this policy and is subject to all of its terms and provisions. Except as the endorsement expressly states, it does not (i) modify any of the terms and provisions of the policy, (it) modify any prior endorsement, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. Each Commitment, endorsement or other form, or provision in the Schedules to this policy that refers to a term defined in Section 1 of the Conditions shall be deemed to refer to the term regardless of whether the term is capitalized in the Commitment, endorsement or other form, or Schedule. Each Commitment, endorsement or other form, or provision in the Schedules that refers to the Conditions and Stipulations shall be deemed to refer to the Conditions of this policy. 16. SEVERABILITY. In the event any provision of this policy, in whole or in part, is held invalid or unenforceable under applicable law, the policy shall be deemed not to include that provision or such part held to be invalid and all other provisions shall remain in full force and effect. 17. CHOICE OF LAW; FORUM. (a) Choice of Law: The Insured acknowledges the Company has underwritten the risks covered by this policy and determined the premium charged therefor in reliance upon the law affecting interests in real property and applicable to the interpretation, rights, remedies, or enforcement of policies of title insurance of the jurisdiction where the Land is located. Therefore, the court or an arbitrator shall apply the law of the jurisdiction where the Land is located to determine the validity of claims against the Title that are adverse to the Insured and in interpreting and enforcing the terms of this policy. In neither case shall the court or arbitrator apply its conflicts of law principles to determine the applicable law. (b) Choice of Forum: Any litigation or other proceeding brought by the Insured against the Company must be filed only in a state or federal court within the United States of America or its territories having appropriate jurisdiction. 18. NOTICES, WHERE SENT. Any notice of claim and any other notice or statement in writing required to be given to the Company under this policy must be given to the Company at Alliant National Title Insurance Company, P.O. Box 359, Longmont, CO 80502, Attention: Legal Department. IMPORTANT NOTICE To obtain information or make a complaint: You may call Alliant National Title Insurance Company's toll free telephone number for information or to make a complaint at: 1-877-788-9800 You may also write to Alliant National Title Insurance Company at: 1831 Lefthand Circle, Suite G Longmont, CO 80501 noc(a)alliantnational.com You may contact the Texas Department of Insurance to obtain information on companies, coverages, rights, or complaints at: 1-800-252-3439 You may write the Texas Department of Insurance: P.O. Box 149104 Austin, TX 78714-9104 Fax: (512) 475-1771 Web: http://www.tdi.state.tx.us E-mail: ConsumerProtection(a.tdi.state.tx.us PREMIUM OR CLAIM DISPUTES: Should you have a dispute concerning your premium or about a claim, you should contact Alliant National Title Insurance Company first. If the dispute is not resolved, you may then contact the Texas Department of Insurance. ATTACH THIS NOTICE TO YOUR POLICY This notice is for information only and does not become a part or condition of the attached document. TX Form T-1 Owner's Policy of Title Insurance ANTIC # 932 AVISO IMPORTANTE Para obtener informacion o para someter una queja: Usted puede Ilamar al numero de telefono gratis de Alliant National Title Insurance Company para informacion o para someter una queja al: 1-877-788-9800 Usted tambien puede escriber a Alliant National Title Insurance Company: 1831 Lefthand Circle, Suite G Longmont, CO 80501 noc ccballiantnational.com Puede comunicarse con el Departamento de Seguros de Texas para obtener informacion acerca de companias, coberturas, dereturas, derechos o quejas al: 1-800-252-3439 Puede escribir al Departamento de Seguros de Texas: P.O. Box 149104 Austin, TX 78714-9104 Fax: (512) 475-1771 Web: http://www.tdi.state.tx.us E-mail: ConsumerProtectiona-tdi.state.tx.us DISPUTAS SOBRE PRIMAS O RECLAMOS: i tiene una disputa concerniente a su prima o a un reclamo, debe comunicarse con el Alliant National Title Insurance Company primero. Si no se resuelve la disputa, puede entonces comunicarse con el dapartamento (TDI). UNA ESTE AVISO A SU POLIZA: Este aviso es solo para proposito de informacion y no se convierte en parte o condicion del documento adjunto. 20150617000723350 06/17/2015 10:23:07 AM D1 1/3 O M "NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING INFORMATION FROM ANY INSTRUMENT THAT TRANSFERS AN INTEREST IN REAL PROPERTY BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER." SPECIAL WARRANTY DEED DATE: Pune l6, 2015 GRANTOR: CHARLES K. GREEN, a single person GRANTEE AND GRANTEE'S MAILING ADDRESS: CITY OF ANNA, TEXAS, a municipal corporation CONSIDERATION: TEN AND NO/100 DOLLARS ($10.00), and other good and valuable consideration, the receipt of which is hereby acknowledged, PROPERTY (including any improvements): Being 3.501 acres of land out of Z. F, Lester Survey, Abstract No. 546, Collin County, Texas, and being more particularly described by metes and bounds in Exhibit "A" attached, RESERVATIONS FROM CONVEYANCE: None EXCEPTIONS TO CONVEYANCE AND WARRANTY: This conveyance is made and accepted subject to any and all outstanding minerals, mineral leases, restrictions, covenants, conditions and easements, if any, relating to the hereinabove described property, but only to the extent that they are still in force and effect, and shown of record in the hereinabove mentioned County and State; and also to all zoning laws, regulations and ordinances of municipal and/or other governmental authorities, if any, but only to the extent that they are applicable and enforceable against the hereinabove described property. Grantor, for the consideration and subject to the reservations from and exceptions to conveyance and warranty, grants, sells, and conveys to Grantee the property, together with ail and singular the rights and appurtenances thereto in any wise belonging, to have and hold it to `Grantee, Grantee's heirs, executors, administrators, successors, or assigns forever. Grantor hereby binds Grantor and Grantor's heirs, executors, administrators, and successors to warrant and forever defend all and singular the property to Grantee and Grantee's heirs, executors, administrators, successors, and assigns, against every person whomsoever lawfully claiming or to claim the same or any part thereof, except as to the reservations from and exceptions to conveyance and warranty, when the claim is by, through or under Grantor, but not otherwise. When the context requires, singular nouns and pronouns include the plural. Warranty Deed; Page r Current ad valorem taxes on said property having been prorated, the payment the eof is assumed by Grantee. CHARLES K, GREEN STATE OF TEXAS COUNTY OF GRAYSON This instrument was acknowledged before me on the f�— day of June, 2015, by CHARLES K. GREEN. $ &WN KINCAN� ON R N.1 °��`? •,�y'� l�iolor; Pur�1iC, S'.t,1a of Texas �V1v ar �, 2MNotary Public, State of Texas seotemU_ _ .ifl1, PREPARED 1N THE LAW OFFICE OF: HYNDS & GORDON, P, C. 500 N. Sam Raybum Freeway, Suite 200 Sherman, Texas 75090 Red Rlver#0119911/db warranty Deed; Page 2 EXiIRMA" 1C,��A� A�sCRIPT QN TRACT O%ffi: BEING all of that certain 3,501 acre tract of land situated in Collin County, Texas, in the ZY, Lester Survey, Abstract No. 546 and being a resurvey of a called 3.50 acre tract of land described In a Warranty Deed with Vendor's Lien recorded in Volume 3880, Page 124 of the Collin County Deed Records, and being more particularly described by metes and bounds as follows: 85 -GINNING at a 112 Inch iron rod found in the center of County Load No. 373 at it's intersection with the West line of Slate Highway No. 5, being the Northeast corner of said 3.60 acre tract and the Southeast comer of a called 27.387 acre tract of land described as Tract 7 in a Special Warranty Deed recorded in Volume 6680, Page 5000 of said deed records, said found 1/2 Inch iron rod being the Northeast corner hereof; THENCE South 23 degrees 15 minutes 02 seconds East along the West line of State Highway No. 5 and the East line of said 3.50 acre tract at 32.78 feet pass over a 1/2 inch Iron rod found on the'South side of County Road 373 and continuing for a total distance of 280.134 feet to a 518 inch iron rod set at the Southeast corner thereof, said point being the Northeast corner of a called 3.50 acre tract of land described as Tract One in a Warranty Deed recorded at County Clerk File No. 96-0092409 in said deed records, from which a 1/2 inch iron rod found at a pipe fence comer at the Southeast corner of a balled 3.50 acre tract of land described as Tract Two bears South 23 degrees 15 minutes 00 seconds East, 450,45 feet, said set 518 Inch iron rod being (he Southeast corner hereof; THENCE South 89 degrees 59 minutes 13 seconds West along the South line of said 3,50 acre tract and the North line of said 3.50 acre TraQt One, at 1,40 feet pass 0.20 feet North of a pipe fence corner post and continuing generally along a fence a total distance of 648.67 feet to a 112 Inch Iron rod found at a wood fence comer post at the common West corner thereof, said point being in the East line of a called 3,10 acre tract of land, described in a Warranty Beed recorded in Volume 4505, Page 1941 of said deed records, said found 112 inch iron rod being the Southwest corner hereof; THENCE North 00 degree 22 minutes 06 seconds East along the West line of said 3.50 acre tract and the East line of said 3.10 acre tract at 228.64 feet pass over a 112 inch iron rod found (Geer 4117) on the South side of County Road 373 and continuing for a total distance of 258.65 feet to a point in the center of County Road 373 at the common North corner thereof, being in the South line of said 27.387 acre tract from which a 112 inch iron rod found at the Northwest corner of a called 15.935 acre tract of land described In a Special Warranty Deed recorded at County Cie* dile No, 93-0050074 bears North 89 degrees 57 minutes 00 seconds West, 350,14 feet, said point in the center of County Road 373 being the Northwest corner hereof; THENCE South 89 degrees 57 minutes 00 seconds mast along the center of County Road 373, the North line of said 3.50 acre tract and the South lime of said 27.387 acre tract at 531,87 feet pass 0.4 fee(South of a 1/2 inch Iron rod found and cont)nuing for a total distance of 534.15 feet to the Place of Beginning and being calculated to Contain 3.501 acres of land, is Filed and Recorded official Public Records Stacey Kemp, County Clerk Collin County, TEXAS 06/17/2015 10:23:07 ADI $30.00 SCAPELA 20150617000723350 ELECTRONICALLY RECORDED COUNTY OF C � I F DATE Q € -rs- TIME s ? c No. 1 75 061 "NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING INFORMATION FROM ANY INSTRUMENT THAT TRANSFERS AN INTEREST IN REAL PROPERTY BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER." SPECIAL WARRANTY DEED DATE: June 16, 2015 GRANTOR: CHARLES K. GREEN, a single person GRANTEE AND GRANTEE'S MAILING ADDRESS: CITY OF ANNA, TEXAS, a municipal corporation CONSIDERATION: TEN AND NO/100 DOLLARS ($10.00), and other good and valuable consideration, the receipt of which is hereby acknowledged. PROPERTY (including any improvements): Being 3.501 acres of land out of Z. F. Lester Survey, Abstract No. 546, Collin County, Texas, and being more particularly described by metes and bounds in Exhibit "A" attached. RESERVATIONS FROM CONVEYANCE: None EXCEPTIONS TO CONVEYANCE AND WARRANTY: This conveyance is made and accepted subject to any and all outstanding minerals, mineral leases, restrictions, covenants, conditions and easements, if any, relating to the hereinabove described property, but only to the extent that they are still in force and effect, and shown of record in the hereinabove mentioned County and State; and also to all zoning laws, regulations and ordinances of municipal and/or other governmental authorities, if any, but only to the extent that they are applicable and enforceable against the hereinabove described property. Grantor, for the consideration and subject to the reservations from and exceptions to conveyance and warranty, grants, sells, and conveys to Grantee the property, together with all and singular the rights and appurtenances thereto in any wise belonging, to have and hold it to Grantee, Grantee's heirs, executors, administrators, successors, or assigns forever. Grantor hereby binds Grantor and Grantor's heirs, executors, administrators, and successors to warrant and forever defend all and singular the property to Grantee and Grantee's heirs, executors, administrators, successors, and assigns, against every person whomsoever lawfully claiming or to claim the same or any part thereof, except as to the reservations from and exceptions to conveyance and warranty, when the claim is by, through or under Grantor, but not otherwise. When the context requires, singular nouns and pronouns include the plural. Warranty Deed; Page 1 Current ad valorem taxes on said property having been prorated, the payment the eof is assumed by Grantee. & �jj CHARLES K. GREEN STATE OF TEXAS COUNTY OF GRAYSON This instrument was acknowledged before me on the day of June, 2015, by CHARLES K. GREEN. SH" Ilk , l Notary Public, State of Texas PREPARED IN THE LAW OFFICE OF: HYNDS & GORDON, P. C. 500 N. Sam Rayburn Freeway, Suite 200 Sherman, Texas 75090 Red River#0119911/db Warranty Deed; Page 2 EXHIBIT "A" - LEGAL 1)ESCRIPTION TRACT ONE: BEING all of that certain 3.501 acre tract of land situated in Collin County, Texas, in the Z,F. Lester Survey, Abstract No. 546 and being a re -survey of a called 3.50 acre tract of land described in a Warranty Deed with Vendor's Lien recorded In Volume 3880, Page 124 of the Collin County Deed Records, and being more particularly described by metes and bounds as follows: BEGINNING at a 1/2 inch iron rod found in the center of County Road No. 373 at it's intersection with the West line of State Highway No. 5, being the Northeast corner of said 3.50 acre tract and the Southeast corner of a called 27.387 acre tract of land described as Tract 7 in a Special Warranty Deed recorded in Volume 5680, Page 5000 of said deed records, said found 1/2 inch iron rod being the Northeast corner hereof; THENCE South 23 degrees 15 minutes 02 seconds East along the West line of State Highway No. 5 and the East line of said 3.50 acre tract at 32.78 feet pass over a 112 Inch Iron rod found on the South side of County Road 373 and continuing for a total distance of 280.84 feet to a 5/8 inch iron rod set at the Southeast corner thereof, said point being the Northeast corner of a called 3.50 acre tract of land described as Tract One in a Warranty Deed recorded at County Clerk File No. 96-0092409 in said deed records, from which a 1/2 inch iron rod found at a pipe fence comer at the Southeast corner of a called 3.50 acre tract of land described as Tract Two bears South 23 degrees 15 minutes 00 seconds East, 480,45 feet, said set 5/8 inch iron rod being the Southeast corner hereof; THENCE South 89 degrees 59 minutes 13 seconds West along the South line of said 3.50 acre tract and the North line of said 3.50 acre Tract One, at 1.40 feet pass 0.20 feet North of a pipe fence corner post and continuing generally along a fence a total distance of 646.67 feet to a 112 inch iron rod found at a wood fence corner post at the common West corner thereof, said point being in the East line of a called 3,10 acre tract of land described in a Warranty Deed recorded in Volume 4505, Page 1941 of said deed records, said found 1/2 inch iron rod being the Southwest corner hereof; THENCE North 00 degree 22 minutes 06 seconds East along the West line of said 3.50 acre tract and the East line of said 3,10 acre tract at 228.64 feet pass over a 112 inch iron rod found (Geer 4117) on the South side of County Road 373 and continuing for a total distance of 258.65 feet to a point in the center of County Road 373 at the common North corner thereof, being in the South line of said 27.387 acre tract from which a 112 inch iron rod found at the Northwest corner of a called 15,935 acre tract of land described in a Special Warranty Deed recorded at County Clerk File No. 93-0050074 bears North 89 degrees 57 minutes 00 seconds West, 350,14 feet, said point in the center of County Road 373 being the Northwest corner hereof; THENCE South 89 degrees 57 minutes 00 seconds East along the center of County Road 373, the North line of said 3.50 acre tract and the South line of said 27.387 acre tract at 531.87 feet pass 0.4 feet South of a 112 Inch iron rod found and continuing for a total distance of 534.15 feet to the Place of Beginning and being calculated to Contain 3.501 acres of land.