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Resolution - 2009-R0098 - Tax Abatement Agreement - Parkway Place Lubbock LP - 03_05_2009
Resolution No. 2009-R0098 March 5, 2009 Item No. 5.10 RESOLUTION ,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the Mayor of the City of Lubbock BE and is hereby authorized and directed to execute for and on behalf of the City of Lubbock a Tax Abatement Agreement with Parkway Place Lubbock, LP and all related documents. Said Agreement is attached hereto and incorporated in this Resolution as if fully set forth herein and shall be included in the minutes of the Council. Passed by the City Council this 5th day of March , 2009. TOM MARTIN, MAYOR ATTEST: RetiAa Garza, City Secretary �APPROVI D AS, TO,CONTENT: 'Rob Allis , Assik%m Manager Development Services y VED AS TO FORM: Linda L. Chamales, Economic Development Attorney LC: cityatt / Linda / Res -Tax Abatement- Parkway Place February 17, 2009 Contract: 8841 AGREEMENT STATE OF TEXAS § COUNTY OF LUBBOCK § Resolution No. 2009-R0098 This Agreement made this 5th day of March , 2009, by and between the City of Lubbock, Texas, a home rule municipality of the State of Texas (hereinafter called "City"), and Parkway Place Lubbock, L.P. (hereinafter called "Company"); WITNESSETH: WHEREAS, City received an application for tax abatement from Company on the 4"' day of February 2009, for improvements to real property and tangible personal property at 1802 Parkway Drive, and further described in Exhibit "A," which is attached hereto and incorporated herein as if fully set forth; and WHEREAS, upon review of the above application it was determined that the facility and real property is located in Enterprise Zone 10-1 designated by the City for commercial and industrial tax abatement in Ordinance No. 2007-00116 covering the above described property; and WHEREAS, the Guidelines and Criteria Governing Tax Abatement For Commercial Projects in Designated Enterprise Zones in the City of Lubbock were adopted November 8, 2007 by Resolution No. 2007-RO513 of the City Council of the City of Lubbock. A copy of the Guidelines and Criteria Governing Tax Abatement for Commercial Projects in Designated Enterprise Zones in the City of Lubbock is attached as Exhibit "B" and incorporated herein as if fully set forth; and WIIEREAS, the City complied with all the requirements set forth in V.T.C.A., Tax Code, Section 312.201; and WHEREAS, the City complied with all the criteria and guidelines as set forth in the Guidelines and Criteria Governing Tax Abatement for Commercial Projects in Designated Enterprise Zones in the City of Lubbock; and TAX ABATEMENT AGREEMENT - PARKWAY PLACE LUBBOCK, L.P. PAGE t WHEREAS, the property described in Exhibit A is located in Enterprise Zone 10- 1 and V.A.T.C., Tax Code, Sec. 312.2011 provides that designation as an enterprise zone constitutes designation as a reinvestment zone without further action; and WHEREAS, the Company's application is for the construction of a new facility; and WHEREAS, V.A.T.C. Tax Code Sec.'112.002 and Section IV of the Guidelines and Criteria governing `fax Abatement for Commercial Projects in Designated Enterprise Zones in the City of Lubbock recognize construction of a new facility as being eligible for tax abatement status, and WHEREAS, the City Council hereby finds that all of the Guidelines and Criteria Governing Commercial Tax Abatement, as adopted by Resolution No. 2007-RO513 have been met by Company; and WHEREAS, the location of the facility and surrounding real property, which are to be the subject matter of this Agreement, are attached hereto as Exhibit "A" and made a part of this Agreement for all purposes; and NOW THEREFORE, for and in consideration of the premises and of the mutual terms, covenants and conditions herein contained the City and Company do hereby agree as follows: SECTION 1, Tenn. This Agreement shall commence January 1 of the tax year after the required improvements are substantially completed and shall expire five (5) years after said date. SECTION 2. Base Year. The base year applicable to real property, which is the subject of this Agreement, shall be 2009, and the assessed value of the real property shall be the assessed value applicable to such property for said year. SECTION 3. Base Year Taxes. The taxes upon the real property shall be paid in accordance with the assessed value of such property for the base year. Base year taxes upon the real property are thus not abated. TAX ABATEMENT AGREEMENT- PARKWAY PLACE LUBBOCK, L.P. PAGE 2 SECTION 4. Abatement of Increase in Base Year Tax. In accordance with V.A.T.C., Tax Code, Section 312.204 real property taxes applicable to the real property subject to this Agreement shall be abated only to the extent said value for any given year within the term of this Agreement exceeds the base year taxes set forth above. SECTION 5. Property Ineligible for Tax Abatement. The property described and set forth in Section IV(5) of the Guidelines and Criteria Governing Tax Abatement for Commercial Projects in Designated Enterprise Zones in the City of Lubbock is incorporated by reference herein as if fully set out in this Agreement and fully describes the property ineligible for tax abatement. SECTION b. Exemption from Tax. The City covenants and agrees to exempt from taxation, in accordance with Section 4 above, the following properties. (a) All proposed new improvements to be placed upon the property at 1802 Parkway Drive which is described in Exhibit "A". SECTION 7. Economic (qualifications. Company agrees to expend funds necessary to qualify for tax abatement by constructing a new facility, as set forth in Section IV(9)(a) of the Guidelines and Criteria Governing Tax Abatement for Commercial Projects in Designated Enterprise Zones in the City of Lubbock (Exhibit "B") on the property described in Exhibit "A". A description of the kind, number and location of all proposed improvements is attached in Company's application, Exhibit "C" and incorporated herein as if fully set forth. SECTION 8. Value of Improvements. In accordance with V.A.T.C., Tax Code, Section 312.204(a), which requires the Owner of the property to make specific improvements or repairs to the property in order to be eligible for tax abatement, Company will expend one million two hundred fifty-five thousand ($1,255,000) for the construction of a new facility to be located within the enterprise zone created by Ordinance No. 2007-00116. SECTION 9. City Access to Property. Company covenants and agrees that City shall have access to the property, which is the subject matter of this Agreement, upon reasonable notice and during normal business hours, and that municipal employees or their agents shall be able to inspect the property to insure compliance with the terms and conditions of Company's application for tax abatement, attached as Exhibit "C", and this Agreement. TAX ABATEMENT AGREEMENT - PARKWAY PLACE LUBBOCK, L.P. PAGE 3 SECTION 10. Portion of Tax Abated. City agrees, during the term of this Agreement, to abate taxes on eligible property according to the following schedule. Year l: 100% Year 2: 80% Year 3: 60% Year 4: 40% Year 5: 20% SECTION 11. Type of Improvements. Company proposes to construct a new facility as described in Exhibit "C". Company further states that the proposed improvements to the property above mentioned commenced on the 1 st day of April, 2009, and shall be completed within approximately six (6) months from said date. Company may request an extension of the above date from City in the event circumstances beyond the control of Company necessitate additional time for completion of such improvements and such consent shall not unreasonably be withheld. Company shall provide a copy of the certificate of occupancy or other proof of completion within ten days of completion of improvements. SECTION 12. Limitation on Use. Company agrees to limit the use of the property set forth in Exhibit "A" to commercial and/or industrial uses as those terms are defined in the zoning ordinances of the City of Lubbock and to limit the uses of the property to uses consistent with the general purpose of encouraging development of the enterprise zone during the term of this agreement. SECTION 13. Recapture. Company agrees to be bound by and comply with all the terms and provisions for recapture of abated taxes in the event of default by Company pursuant to law and as set forth in Guidelines and Criteria for Tax Abatement adopted by Resolution No. 2007-RO513 of the City Council of the City of Lubbock. SECTION 14. Certification. Company agrees to certify annually in writing to the governing body of each taxing unit that the owner is in compliance with the terms of the Agreement. SECTION 15. Compliance. "The City may cancel or modify this Agreement if Company fails to comply with the Agreement. SECTION 16. Notices. Notices required to be given by this Agreement shall be mailed, certified mail return receipt requested, to the following addresses: TAX ABATEMENT AGREEMENT - PARKWAY PLACE LUBBOCK, L.P. PAGE 4 Jc° CITY OF LUBBOCK Assistant City Manager Development Services P.O. Box 2000 Lubbock, Texas 79457 PARKWAY PLACE LUBBOCK, L.P. c/o Quincy White PO Box 3893 Lubbock, TX 79452 Phone: 806-790-0576 SECTION 17. Effective Date. Notwithstanding anything contained herein to the contrary, this Agreement shall not be effective until such time as it has been finally passed and approved. EXECUTED this 5th day of PARKWAY PLACE LUBBOCK, L.P. By Parkway Place Lubbock GP, LLC, its general partner RAJEEV GILL, MANA ER March .2009. CITY OF LUBBOCK A Municipal Corporation TOM MARTIN, MAYOR ATTEST: Rebe ca Garza, City Secrctary APPROVED AS TO CONTENT: Rob All' , s A ity Manager Development Services APPROVED AS TO FORM: Linda L. Chamales Economic Development Attorney Lc: cityatt/Lindal Ta¢ Abatement Agmi — Parkway Place February 17, 2009 TAX ABATEMENT AGREEMENT — PARKWAY PLACE LUBBOCK, L.P. PAGE 5 Resolution No. 2009-R0098 Exhibit A PERIMETER SURVEY OF A 4.735 ACRE TRACT IN SECTION 2, BLOCK A, LUBBOCK COUNTY, TEXAS Metes and Bounds description of a 4.735 acre tract of land in Section 2, Block A, Lubbock County, Texas being a portion of that tract described in Volume 11 17, page 357 of the deed records of Lubbock County, Texas and further described as follows: Beginning at a 3/8" iron rod found for the southwest corner of this tract at the northwest corner of Lot 1, Ramsey Addition to the City of Lubbock, Lubbock County, Texas as shown by the plat, map or dedication deed thereof recorded in Volume 1265, page 453 of said records; Thence N 0° 18'20" W. along the east line of a 20 foot alley, a distance of 280.77 feet to a cross chiseled on concrete in the south line of the Parkway Drive for the northwest corner of this tract; Thence N. 56°24'30" E. along said south line, a distance of 567.93 feet to a `/2" iron rod with cap set for the northeast corner of this tract at the northwest corner of Lot 1, East Lubbock Library Branch, an addition to the City of Lubbock, Lubbock County, Texas as shown by the plat, map or dedication deed thereof recorded in Volume 4814, page 83 of the real property records of Lubbock County, Texas; Thence S. 0° 1820" E. along the west line of said Lot 1, East Lubbock Library Branch, a distance of 588.09 feet to a''/2" iron rod with cap set in the north line of said Lot 1, Ramsey Addition for the southeast corner of this tract; Thence S. 89' 10'00" W. along the north line of said Lot 1, Ramsey Addition, a distance of 474.77 feet to the place of beginning. Resolution No. 2009-R0098 Exhibit A Mawr lVSfY yh r � • 1 1802 Parkway Drive ti .;p . Or Wm ► tolJPO rip 5 _ low Resolution No. 2009—R0098 Exhibit B Guidelines And Criteria Governing Tax Abatement For Commercial Projects In Designated Enterprise Zones In The City Of Lubbock SECTION 1. General Purnose: The City of Lubbock is committed to the promotion of high quality commercial development in designated Enterprise Zones within the City, and to an ongoing improvement in the quality of life for citizens residing in designated Enterprise Zones. The Affected Jurisdictions recognize that these objectives are generally served by enhancement and expansion of the local economy. The Affected Jurisdictions will, on a case -by -case basis, give consideration to providing tax abatement, as authorized by V.T.C.A., Tax Code, Chapter 312, as stimulation for economic development within the designated Enterprise Zones in the City of Lubbock. It is the policy of the Affected Jurisdictions that said consideration will be provided in accordance with the guidelines and criteria herein set forth and in conformity with the Tax Code. Nothing contained herein shall imply, suggest or be understood to mean that the Affected Jurisdictions are under any obligation to provide tax abatement to any specific applicant (V.T.C.A. Tax Code, Section 312.002(d)). With the above rights reserved, all applicants for tax abatement will be considered on a case -by -case basis. SECTION I1. Definitions: As used within these guidelines and criteria, the following words or phrases shall have the following meaning: I. Abatement of Taxes: To exempt from ad valorem taxation all or part of the value of certain Improvements placed on land located in a designated Enterprise Zone for commercial development purposes for a period of time not to exceed five (5) years. 2. Affected Jurisdiction: The City of Lubbock 3. Abatement Agreement: A contract between a property owner and the Affected Jurisdiction for the abatement of taxes on qualified property located within a designated Enterprise Zone as authorized by V.T.C.A., Tax Code, Section 312.204(a). 4. Base Year Value: The assessed value of property eligible for tax abatement as of January l preceding the execution of an Abatement Agreement as herein defined. 5. Commercial: Retail, service, or office 6. Designated Enterprise Zones: Enterprise zones in which the Affected Jurisdictions will, on a case -by -case basis, give consideration to providing commercial tax abatement, as authorized by V.T.C.A., Tax Code, Chapter 312, as stimulation for economic development. The eligible designated enterprise zones are: Lubbock 2000 South Enterprise Zone until September I, 2008 Lubbock 2000 North Enterprise Zone until September 1, 2008 2007 Commercial Tax Abatement Guidelines November 8, 2007 EZ Block Groups: Census Tract 1.0 Block Group 1 Census Tract 1.0 Block Group 4 Census Tract 2.01 Block Group I Census Tract 2.02 Block Groups l and 2 Census Tract 3.01 Block Groups 1, 2 and 3 Census Tract 3.02 Block Groups 1, 2, 5, 7, and 9 Census Tract 6.07 Block Groups I and 2 Census Tract 9.00 Block Groups 1, 4 and 5 Census Tract 10.00 Block Groups 1, 2, and 4 Census Tract 12.00 Block Group 1 and 7 Census Tract 13.00 Block Groups I Census Tract 14.00 Block Groups 1,2 Census Tract 24.00 Block Groups 1, 2, and 3 Census Tract 25.00 Block Group 7. Expansion of Existing Facilities or Structures: The addition of buildings, structures, machinery or equipment to a Facility. 8. Existing Facility or Structure: A Facility as of the date of execution of the Tax Abatement Agreement, located in or on Real Property eligible for tax abatement. 9. Facility: The improvements made to Real Property eligible for tax abatement and including the building or structure erected on such Real Property and/or any Tangible Personal Property to be located in or on such property. 10. Improvements to Real Property or Improvements: Shall mean the construction, addition to, structural upgrading of, replacement of, or completion of any facility located upon, or to be located upon, Real Property, as herein defined, or any Tangible Personal Property placed in or on said Real Property, 11. Modernization/Renovation of Existing facilities: The replacement or upgrading of existing facilities. 12, New Facility: The construction of a Facility, that has not previously existed within the affected jurisdiction on previously undeveloped real property eligible for tax abatement. 13. New Permanent Job: A new employment position created by a business that has provided employment to an employee of at least 1,820 hours annually and intended to be an employment position that exists during the life of the abatement. 14. Owner: The record title owner of Real Property or the legal owner of Tangible Personal Property. In the case of land leased from an Affected Jurisdiction or buildings leased from a private party or tax exempt property, the lessee shall be deemed the owner of such leased property together with all improvements and Tangible Personal Property located thereon. 15. Productive Life: The number of years a Facility is expected to be in service. 16, Real Property: Land on which Improvements are to be made or fixtures placed. 2 2007 Commercial Tax Abatement Guidelines November 8, 2007 17. Tangible Personal Property: Any Personal Property, not otherwise defined herein, and which is necessary for the proper operation of any type of Facility. SECTION Ill. Intent of Criteria and Guidelines: The intent of the criteria and guidelines, as herein set forth, is to establish the minimum standards which an applicant for tax abatement must meet in order to be considered for such status by the Affected Jurisdictions. SECTION IV. Criteria and Guidelines for Tax Abatement: Any type of Facility will be eligible for tax abatement consideration provided such Facility meets the following guidelines and criteria: I. A business must clearly add to the Lubbock economic base. Compliance with this criterion must show that if the company is qualifying on the jobs requirement that the jobs being proposed will not simply displace other similar jobs in the community. 2. Creation of new value: Abatement may only be granted for the additional value resulting from any of the following: (a) modernization/renovation of existing facilities of any type as herein defined; (b) construction of a new facility of any type as herein defined; (c) expansion of existing facilities of any type as herein defined. 3. New or existing facilities, of any type herein defined, located in a designated Enterprise Zone, (Designated Enterprise Zones are automatic reinvestment zones) or upon Real Property eligible for such status will be eligible for consideration for tax abatement status provided all other criteria or guidelines are satisfied. 4. Improvements to Real Property are eligible for tax abatement status. 5. The following types of property shall be ineligible for tax abatement status and shall be fully taxed: (a) Real Property; (b) inventories or supplies; (c) tools; (d) furnishings and other forms of movable personal property; (e) vehicles; (f) aircraft; 3 2007 Commercial Tas Abatement Guidelines November 8. 2007 (g) housing; (h) boats; (i) property owned by the State of Texas or any state agency; and, (j) property owned or leased by a member of the affected Jurisdiction that did not have an active tax abatement in place before they became a member of the governing body or commission. 6. In order for a Facility to qualify for abatement, the following conditions must apply: (a) The owner or leaseholder of real property must make eligible improvements to the real property; and, (b) In the case of lessees, the leaseholder must have a lease commitment of at least five (5) years. (c) Property must be properly zoned for the use stated by the owner in the application. (d) It is recommended that facilities located within the certificated territory of the City's municipally owned electric utility, Lubbock Power and Light (LP&L), utilize LP&L for electrical services during the term of the abatement. 7. The amount and term of abatement shall be determined on a case -by -case basis, however, in no event shall taxes be abated for a term in excess of five (5) years. The amount of the taxable value of Improvements to be abated and the term of the abatement shall be determined by the Affected Jurisdiction in all cases. The authority of all other taxing units shall be as set forth in V.T.C.A., Tax Code, Section 312.206. 8. No commercial property shall be eligible for tax abatement under these guidelines and criteria unless such property is located in a designated Enterprise Zone in accordance with Government Code, Chapter 2303.101, and as defined in Section 11(6), and the tax abatement application is filed with the taxing jurisdiction before construction begins. 9. The minimum economic qualification for tax abatement shall be as follows: (a) $100,000 investment, or (b) Ten (10) new permanent jobs and at least 30% of the business' new employees in the zone are residents of any zone within the governing body's or bodies' jurisdiction. 10. Notwithstanding any of the requirements set forth in Subsection 9 above, the governing body of an Affected Jurisdiction upon the affirmative vote of three -fourths (3/4) of its members may vary any of the above requirements when variation is demonstrated by the applicant for Tax Abatement that variation is in the best interest of the Affected Jurisdiction to do so, and will enhance the economic development of the Affected Jurisdiction. By way of example only, and not by limitation, the governing body of an Affected Jurisdiction may consider the following or similar terms in determining whether a variance shall be granted: 4 2007 Commercial Tax Abatement Guidelines November 8, 2007 (a) That the increase in productivity of the Facility will be substantial and hence directly benefit the economy. (b) That the increase of goods or services produced by the Facility will be substantial, and directly benefit the economy. (c) That the employment maintained at the Facility will be increased. (d) That the waiver of the requirement will contribute, and provide for the retention of existing jobs within the Affected Jurisdiction, (e) Any other evidence tending to show a direct economic benefit to the Affected Jurisdiction. 11. Taxability: (a) The portion of the value of Improvements to be abated shall be abated in accordance with the terms and provisions of a Tax Abatement Agreement executed between the Affected Jurisdiction and the owner of the heal Property and/or Tangible Personal Property, (which agreement shall be) in accord with the provisions of V.T.C.A., Tax Code, Section 312,205. (b) All ineligible property, if otherwise taxable as herein described, shall be fully taxed. 12. The governing body of each Affected Jurisdiction shall have total discretion as to whether tax abatement is to be granted. Such discretion, as herein retained, shall be exercised on a case - by -case basis. The adoption of these guidelines and criteria by the governing body of an Affected Jurisdiction does not: (a) Limit the discretion of the governing body to decide whether to enter into a specific tax abatement agreement; (b) Limit the discretion of the governing body to delegate to its employees the authority to determine whether or not the governing body should consider a particular application or request for tax abatement; or, (c) Create any property, contract, or other legal right in any person to have the govening body consider or grant a specific application or request for tax abatement. 13. The burden to demonstrate that an application for tax abatement should be granted shall be upon the applicant. Each Affected Jurisdiction to which the application has been directed shall have full authority to request any additional information from the applicant that the governing body of such Affected Jurisdiction deems necessary to assist it in considering such application. SECTION V. Tax Abatement Agreement: 1. The Tax Abatement Agreement may be executed between the owner and the municipality. A Tax Abatement Agreement shall: 2007 Commercial Ta\ Abatement Guidelines November S. 2007 (a) Establish and set forth the Base Year assessed value of the property for which tax abatement is sought. (b) Provide that the taxes paid on the Base Year assessed value shall not be abated as a result of the execution of said Tax Abatement Agreement. (c) Provide that ineligible property as subscribed in Section IV, Subsection 5, hereinabove shall be fully taxed. (d) Provide for the exemption of Improvements in each year covered by the agreement, only to the extent the value of such Improvements for each such year exceeds the value for the year in which the agreement is executed. (e) Fully describe and list the kind, number and location of all of the improvements to be made in or on the Real Property. (f) Set forth the estimated value of all improvements to be made in or on the Real Property. (g) Clearly provide that tax abatement shall be granted only to the extent: (I ) The improvements to Real Property increase the value of the Real Property for the year in which the Tax Abatement Agreement is executed; and, (2) That the Tangible Personal Property improvements to Real Property were not located on the Real Property prior to the execution of the Tax Abatement Agreement. (h) Provide for the portion of the value of the improvements to Real Property or improvements to be abated. This determination is to be made consistent with the provisions of Section IV, Subsection 5, of these guidelines and criteria as hereinabove set forth. (i) Provide for the commencement date and the termination date. In no event shall said dates exceed a period of five (5) years. (j} Describe the type and proposed use of the improvements to Real Property or improvements including: (1) The type of facility. (2) Whether the improvements are for a new facility or renovation of a facility. (3) The nature of the construction, proposed time table of completion, a map or drawings of the improvements above mentioned. (4) The amount of investment and the commitment for the creation of new jobs. (5) A list containing the kind, number and location of all proposed improvements. 6 2007 Commercial Tax Abatement Guidelines November 8, 2007 (6) Any other information required by the Affected Jurisdiction. (k) Provide a legal description of the Real Property upon which improvements are to be made. (1) Provide access to and authorize inspection of the Real Property or improvements by employees of the Affected Jurisdiction, who have executed a Tax Abatement Agreement with owner to insure improvements are made according to the specifications and conditions of the Tax Abatement Agreement. (m) Provide for the limitation of the uses of the Real Property or improvements consistent with the general purpose of encouraging development or re -development of the zone during the period covered by the Tax Abatement Agreement. (n) Provide for contractual obligations in the event of default by owner, violation of the terms or conditions by owner, recapturing property tax revenue in the event the owner defaults or otherwise fails to make improvements as provided in said Tax Abatement Agreement, and any other provision as may be required or authorized by State law. (o) Contain each term agreed to by the owner of the property; (p) Require the owner of the property to certify annually to the governing body of each taxing unit that the owner is in compliance with each applicable term of the agreement; and (q) Provide that the governing body of the municipality may cancel or modify the agreement if the property owner fails to comply with the agreement. 2. Not later than the seventh day before the City of Lubbock (as required by V.T.C.A., Tax Code, Section 312 2041 or Section 312.402) enters into an agreement for tax abatement under V.T.C.A., Tax Code, Section 312.204, the governing body or a designated officer or employee thereof shall deliver to the presiding officer of the governing body of each of the taxing units in which the property to be subject to the agreement is located, a written notice that the City intends to enter into the agreement. The notice must include a copy of the proposed Tax Abatement Agreement. 3. A notice, as above described in Subparagraph 2, is presumed delivered when placed in the mail, postage paid and properly addressed to the appropriate presiding officer. A notice properly addressed and sent by registered or certified mail for which a return receipt is received by the sender is considered to have been delivered to the addressee. 4. Failure to deliver the notice does not affect the validity of the agreement. SECTION V1. AP12lication: 1. Any present owner of taxable commercial property located within the designated Enterprise Zone of the City of Lubbock may apply for tax abatement by filing an application with the City of Lubbock. 7 2007 Commercial Tax Abatement Guidelines November S, 2007 2. The application shall consist of a completed application form accompanied by: (a) A general description of the improvements to be undertaken. (b) A descriptive list of the improvements for which tax abatement is requested. (c) A list of the kind, number and location of all proposed improvements of the Real Property Facility of Existing Facility, (d) A map indicating the approximate location of improvements on the Real Property Facility or Existing Facility together with the location of any or all Existing Facilities located on the Real Property or Facility. (e) A list of any and all Tangible Personal Property presently existing on the Real Property or located in an existing facility. (f) A legal description of property. (g) Address of property. (h) A proposed time schedule for undertaking and completing the proposed improvements. (i) A general description stating whether the proposed improvements are in connection with: (1) the renovation of a facility; or, (2) construction of a new facility. 0) A statement of the additional value to the Real Property or Facility as a result of the proposed improvements. (k) A statement of the assessed value of the Real Property, Facility or Existing Facility for the Base Year. (1) Information concerning the number of new jobs that will be created or information concerning the number of existing jobs to be retained as result of the improvements undertaken. (m) Any other information which the City of Lubbock deems appropriate for evaluating the financial capacity of the applicant and compatibility of the proposed improvements with these guidelines and criteria. (n) Information that is provided to an Affected Jurisdiction in connection with an application or request for tax abatement, and which describes the specific processes or business activity to be conducted or the equipment or other property to be located on the property for which tax abatement is sought is confidential and not subject to public disclosure until the Tax Abatement Agreement is executed. Information in the custody of an Affected Jurisdiction after the agreement is executed is not confidential. (V.T.C.A., Tax Code, Section 312.003). 3 2007 Commercial Tax Abatement Guidelines November 9, 2007 (o) The City of Lubbock shall determine if the property described in said application is within a designated Enterprise Zone. If the City determines that the property described is not within a current Enterprise Zone, then they shall so notify the applicant and said application shall then be returned to the applicant. SECTION VI1. Default Ootions In the event that the applicant, owner or lessee has entered into a tax abatement agreement to make improvements as defined in Section tV.2 above, but fails to undertake or complete such improvements; fails to create all or a portion of the new jobs provided by the Tax Abatement Agreement; or is in default of any of the terms or conditions contained in the Tax Abatement Agreement; then in such event the Affected Jurisdiction to whom the application for tax abatements was directed shall give the applicant or owner sixty (60) days notice of such failure. The applicant or owner shall demonstrate to the satisfaction of the Affected Jurisdiction above mentioned that the applicant or owner has commenced to cure such failure within the sixty (60) days above mentioned. In the event the applicant owner, or lessee fails to demonstrate that he is taking affirmative action to cure his failure, the Affected Jurisdiction shall have three options: (a) The Affected Jurisdiction may renegotiate the .Agreement with the applicant, owner or lessee, in which case the current Guidelines and Criteria Governing Tax Abatement for Commercial Projects in Designated Enterprise Zones shall apply to the new Agreement, or (b) The Affected Jurisdiction may determine that good cause exists to cancel the Agreement and all abatement of taxes shall terminate immediately; or (c) The Affected Jurisdiction may terminate the Agreement and recapture taxes abated under Section Vlll. Recapture. 2. In any of the three options in subparagraph I above, the Affected Jurisdiction to which the application for tax abatement was directed shall determine whether default has occurred by the applicant, owner or lessee in the terms and conditions of the Tax Abatement Agreement and shall so notify all other Affected Jurisdictions. Cancellation or termination of the Tax Abatement Agreement by the Affected Jurisdiction to which the application for tax abatement was directed shall constitute simultaneous action to all Tax Abatement Agreements of all other Affected Jurisdictions. SECTION Vill. Recattture In the event that any type of facility, (as defined in Section 11, Subparagraphs 5, 6, 7, 8, 9) is completed and begins producing goods or services, but subsequently discontinues producing goods or services for any reason, excepting fire, explosion or other casualty or accident or natural disaster or other event beyond the reasonable control of applicant or owner for a period of 180 days during the term of a tax abatement agreement, then in such event the Tax Abatement Agreement shall terminate and all abatement of taxes shall likewise terminate, Taxes abated during the calendar year in which termination takes place shall be payable to each Affected Jurisdiction by no later than January 31 st of the following year. Taxes abated in years prior to the year of termination shall be payable to each Affected Jurisdiction within 2007 Commercial Tax Abatement Guidelines November 8.2007 sixty (60) days of the date of termination. The burden shall be upon the applicant or owner to prove to the satisfaction of the Affected Jurisdiction to whom the application for tax abatement was directed that the discontinuance of producing goods or services was as a result of fire, explosion, or other casualty or accident or natural disaster or other even beyond the control of applicant or owner. In the event the applicant or owner meets this burden, and the Affected Jurisdiction is satisfied that the discontinuance of the production of goods or services was the result of events beyond the control of the applicant or owner, then such applicant or owner shall have a period of one year in which to resume the production of goods and services. In the event that the applicant or owner fails to resume the production of goods or services within one year, then the Tax Abatement Agreement shall terminate and the Abatement of all taxes shall likewise terminate. Taxes abated during the calendar year in which termination takes place shall be payable to each Affected Jurisdiction by no later than January 31st of the following year. Taxes abated in years prior to the year of termination shall be payable to each Affected Jurisdiction within sixty (60) days of the date of termination. The one year time period, hereinabove mentioned, shall commence upon written notification from the Affected Jurisdiction to the applicant or owner. 2. In the event that the applicant, owner or Lessee has entered into a tax abatement agreement to make improvements to a facility of any type described in Section I above, but fails to undertake or complete such improvements or fails to create all or a portion of the number of new jobs provided by the Tax Abatement Agreement, then in such event the Affected Jurisdiction to whom the application for tax abatement was directed shall give the applicant or owner sixty (60) days notice of such failure. The applicant or owner shall demonstrate to the satisfaction of the Affected Jurisdiction, above mentioned, that the applicant or owner has commenced to cure such failure within the sixty (60) days above mentioned. In the event that the applicant or owner fails to demonstrate that he is taking affirmative action to cure his failure, then in such event the Tax Abatement Agreement shall terminate and all abatement of taxes shall likewise terminate. Taxes abated during the calendar year in which termination takes place shall be payable to each Affected Jurisdiction by no later than January 31st of the following year. Taxes abated in years prior to the year of termination shall be payable to each Affected Jurisdiction within sixty (60) days of the date of termination. 3. In the event that the Affected Jurisdiction to whom application for tax abatement was directed determines that the applicant or owner is in default of any of the terms or conditions contained in the Tax Abatement Agreement, then in such event the Affected Jurisdiction shall give the applicant or owner sixty (60) days written notice to cure such default. In the event such default is not cured to the satisfaction of the Affected Jurisdiction within the sixty (60) days notice period, then the Tax Abatement Agreement shall terminate and all abatement of taxes shall likewise terminate. Taxes abated during the calendar year in which termination takes place shall be payable to each Affected Jurisdiction by no later than January 31st of the following year. Taxes abated in years prior to the year of termination shall be payable to each Affected Jurisdiction within sixty (60) days of the date of termination. In the event that the applicant or owner allows ad valorem taxes on property ineligible for tax abatement owed to any Affected Jurisdiction, to become delinquent and fails to timely and properly follow the legal procedures for their protest or contest, then in such event the Tax Abatement Agreement shall terminate and all abatement of taxes shall likewise terminate. Taxes abated during the calendar year in which termination, under this subparagraph, takes place shall be payable to each Affected Jurisdiction by no later than January 31st of the 10 2007 Commercial Tax Abatement Guidelines November 8. 2007 following year. Taxes abated in years prior to the year of termination shall be payable to each Affected Jurisdiction within sixty (60) days of the date of termination. In the event that the applicant or owner, who has executed a tax abatement agreement with any Affected Jurisdiction, relocates the business, for which tax abatement has been granted, to a location outside of the designated reinvestment zone, then in such event, the Tax Abatement Agreement shall terminate after sixty (60) days written notice by the Affected Jurisdiction to the Owner/Applicant. Taxes abated during the calendar year in which termination, under this subparagraph takes place shall be payable to each Affected Jurisdiction by no later than January 31st of the following year. Taxes abated in years prior to the year of termination shall be payable to each Affected Jurisdiction within sixty (60) days of the date of termination. 6. The date of termination as that term is used in this Subsection Vlll shall, in every instance, be the 60th day after the day the Affected Jurisdiction sends notice of default, in the mail to the address shown in the Tax Abatement Agreement to the Applicant or Owner. Should the default be cured by the Owner or Applicant within the sixty (60) day notice period, the Owner/Applicant shall be responsible for so advising the Affected Jurisdiction and obtaining a release from the notice of default from the Affected Jurisdiction, failing in which, the abatement remains terminated and the abated taxes must be paid. In every case of termination set forth in Subparagraphs 1, 2, 3, 4 and 5 above, the Affected Jurisdiction to which the application for tax abatement was directed shall determine whether default has occurred by Owner (Applicant) in the terms and conditions of the Tax Abatement Agreement and shall so notify all other Affected Jurisdictions. Termination of the Tax Abatement Agreement by the Affected Jurisdiction to which the application for tax abatement was directed shall constitute simultaneous termination of all Tax Abatement Agreements of all other Affected Jurisdictions. 8. In the event that a tax abatement agreement is terminated for any reason whatsoever, and taxes are not paid within the time period herein specified, then in such event, the provisions of V.T.C.A., Tax Code, Section 33.01 will apply. SECTION 1X. Miscellaneous: 1. Any notice required to be given by these criteria or guidelines shall be given in the following mariner: (a) To the Owner or Applicant: written notice shall be sent to the address appearing on the Tax Abatement Agreement. (b) To an Affected Jurisdiction: written notice shall be sent to the address appearing on the Tax Abatement Agreement. 2. The Chief Appraiser of the Lubbock Central Appraisal District shall annually assess the Real and Personal Property comprising the reinvestment zone. Each year, the Applicant or Owner receiving tax abatement shall furnish the Chief Appraiser with such information as may be :007 Commercial Tax Abatement Guidelines November 8, 2007 necessary for the abatement. Once value has been established, the Chief Appraiser shall notify the Affected Jurisdictions which levy taxes of the amount of assessment. 3. Upon the completion of improvements made to Facility as set forth in Section VI1, Subparagraph 1 of these criteria and guidelines, a designated employee or employees of any Affected Jurisdiction having executed a tax abatement agreement with Applicant or Owner shall have access to the Facility to ensure compliance with the Tax Abatement Agreement. 4. A Tax Abatement Agreement may be assigned to a new owner, but only after written consent has been obtained from all Affected Jurisdictions which have executed such an agreement with the Applicant or Owner. 5. These guidelines and criteria are effective upon the date of their adoption by an Affected Jurisdiction and shall remain in force for two years. At the end of the two-year period, these guidelines and criteria may be re -adopted, modified, amended or re -written as the conditions may warrant. 6. Each Affected Jurisdiction shall determine whether or not said Affected Jurisdiction elects to become eligible to participate in tax abatement. In the event the Affected Jurisdiction elects by resolution to become eligible to participate in tax abatement, then such Affected Jurisdiction shall adopt these guidelines and criteria by separate resolution forwarding a copy of both resolutions to all other Affected Jurisdictions. 7. In the event of a conflict between these guidelines and criteria and V.T.C.A., Tax Code, Chapter 312, then in such event, the 'Tax Code shall prevail, and these guidelines and criteria interpreted accordingly. 8. The guidelines and criteria, once adopted by an Affected Jurisdiction, may be amended or repealed by a vote of three -fourths of the members of the governing body of an Affected Jurisdiction during the two-year term in which these guidelines and criteria are effective. 12 Exhibit C APPLICATION FOR COMMERCIAL TAX ABATEMENT IN LUBBOCK, TEXAS FILING INSTRUCTIONS: This application must be filed prior to the anticipated commencement of construction of improvements or the installation of equipment. This filing acknowledges familiarity and assumed conformance with "GUIDELINES AND CRITERIA GOVERNING COMMERCIAL TAX ABATEMENT" (Copy attached). This application will become a part of any later agreement or contract, and knowingly false representations thereon will be grounds for the voiding of any later agreement or contract. ORIGINAL COPY OF THIS APPLICATION AND ATTACHMENTS SHOULD BE SUBMITTED TO: City of Lubbock Business Development Department P.O. Box 2000 1625 13'" Street Lubbock, TX 79457 (806) 775-2019 Section I — APPLICANT INFORMATION Date of Application: 01/29/09 Applicant Name: Parkway Place Lubbock, LP, a Texas limited partnership Company Name: Parkway Place Lubbock, LP, a Texas limited partnership Address: 9806 Quaker Ave. Lubbock Texas 79424 Phone: 806-747-5937 Fax: 806-747-5934 Applicants Representative on this project: Quincy White Name: Quincy White Address: PO Box 3893 Lubbock Texas 79452 Phone: 506-790-0576 Type of Ownership: j ] Corporation [ x ] Limited Partnership [ ] Proprietorship Total Current Number Employees: 0 Corporate Annual Sales Per Year: 0 Section 11 - FACILITY INFORMATION (a) This application is for a: [ x] New Facility [ ] Expansion [ ] Modernization (b) Type of Commercial Facility for which abatement is requested: Construction of new commercial strip center with approximately 20,000 square feet of leaseabie space on vacant land located at 1802 Parkway Drive. (c) Minimum economic qualification for tax abatement - p#ace a check beside the statements that apply to your project: tax abatement applica?ion rev Exhibit C Commercial Tax Abatement Application Page 2 ix] Minimum investment at least $100,000 ( I Creation of at least 10 new permanent jobs [ ] At least 30% of the new employees to be hired by the business will be residents of any enterprise zone within the governing body's jurisdiction (d) ixj The existing facility to be modernized or expanded or the property where the new facility is to be built is located in a designated Enterprise Zone. (e) Address of proposed facility: 1802 Parkway, Lubbock, Texas J (f) Legal description of proposed facility: See attachment 4. j (g) Describe product or service to be provided. commercial strip center with as yet undetermined_ commercial and retail tenants Section III - FACILITY DESCRIPTION Please attach the following. - Attachment 1 (a) A general description of the improvements to be undertaken (example: build new retail store at 4501 Peach Street and install new furniture and fixtures). (b) A descriptive list of the improvements for which tax abatement is requested, including: (1) cost and description of construction and location of all proposed improvements of the Real Property or Existing Facility, and; (2) list of new equipment and cost of the equipment. (c) A list of any and all Tangible Personal Property presently existing on the Real Property or located in an existing facility. (d) A proposed time schedule for undertaking and completing the proposed improvements. I Attachment 2 (a) A site map indicating the approximate location of improvements on the Real Property Facility or Existing Facility together with the location of any or all Existing Facilities located on the Real Property or Facility. Attachment 3 (a) A statement of the additional value to the Real Property or Facility as a result of the proposed improvements. (b) A statement of the assessed value of the Real Property, Facility or Existing Facility far the base year (attach tax assessment for property from the Lubbock Central Appraisal District). Exhibit C Resolution No. 2009—R0098 Commercial Tax Abatement Application Page 3 (c) Information concerning the number of new jobs that will be created or the number of existing jobs to be retained as a result of the improvements undertaken. Section IV - ECONOMIC IMPACT INFORMATION 11 Part A -- Current Investment in Existing Improvements: no existing improvements Part B — Permanent Employment Estimates: (1) If existing facility, what is the current plant employment: not applicable (2) Estimated number of new jobs to be created and time frame for creation of jobs: New Jobs 0 Time Frame 0 (3) Estimated number of retained jobs: 0 (4) Opening of improvements: (Month) August of (Year) 2009. Part C — Permanent Payroll Estimates: (1) If existing facility, what is the current plant payroll: not applicable (2) Estimated amount of new payroll : 0 (3) Estimated amount of retained payroll: Part D — Construction and Employment Estimates: (1) Construction start: Month February Year 2009. (2) Number of construction jobs: At Start _20— Peak 40 Finish 20 (3) Number of man-years: 6 rnonths Exhibit C Commercial Tax Abatement Application Page 4 Part € — School District Impact Estimates: Give Estimated number of Children added to ISD's 0 Part F — City Impact Estimates: (1) Volume of treated water required from City not apolicble gallons per day. (2) Volume of effluent to be treated by City not applicable gallons per day. Part G — Estimated Appraised Value on Site: LAND PERSONAL IMPROVEMENTS PROPERTY Value of Existing Facility Before New Construction (From Central Appraisal District) 95,000" 0 —based on most recent appraised value conducted by Blosser Appraisals As of February 14, 2008, a copy of which is attached; The value on the Lubbock Central Appraisal District is $11,352.00 for 2008. Value of New Improvements 0 0 Estimated 'Total Value After Improvements 95,000 Part H — Variance: (a) Is a variance being sought under Section IV 9(d) of the "Guideiines"? (b) If "Yes", attach any supplementary information required. Section V - DECLARATION 1,600,000 ( J Yes [x] No To the best of my knowledge, the above information is an accurate description of project details. Parkway Place Lubbock, LP By Parkway Place Lubbock GP, LLC, its general partner Quincy, ' ite, manager 1,600, 0000 Exhibit C Attachment 1 (a) General description of the improvements to be undertaken: Construction of new commercial strip center on vacant land at 1802 Parkway. Strip center will contain approximately 20,000 square feet of leaseable space. (b) A descriptive list of the improvements for which tax abatement is requested, including: (1) See the attached "Design -Build Contract' which contains a description of construction and costs. Also see the attached "Site Plan" and drawing for location of all proposed improvements; (2) No equipment. (c) A list of any and all Tangible Personal Property presently existing on the Real Property or located in existing facility. None. Real Property is raw land. (d) A proposed time schedule for undertaking and completing the proposed improvements. Construction is expected to commence in February, 2009 and is expected to take approximately 6 months to complete. Exhibit C DESIGN -BUILD CONTRACT Owner: ParkwayPlaceLub.LLP Proposed Project: New Max. 22,000 sq. ft. Strip Center Shell Location; Lubbock, TX. PARTIES This agreement is between the contractor MAC (Management Architectural and Construction) and the owner ParkwayPlaceLub.LLP. PHASE 1: PRELIMINARY DESIGN PACKAGE A Preliminary Design package will be developed as outlined below. This will provide an accurate visualization of the completed project. This will assist in establishing and confirming the budget and the time goals and represents a proper and cost effective beginning for the construction project. The preliminary Design Package includes the following professional services. 1, Conferences as required between the Owner's representative and the MAC. Design and Project development Team to determine the Owner's requirements and to initiate a professional study of the project and the most cost effective ways of fullfing the Owner's needs and desires relative to funetion, aesthetics, technology and economics. 2. Jobsite visits by MAC personnel, (Legal and boundary and all surveys required to be famished by Owner, or shall be provided at an additional charge.) 3. The preparation of outline specifications and an accurate preliminary estimate. 4. The preparation and up to two general revisions of the following preliminary drawings, (Generally on 24 X 36" sheets). a. Preliminary site plan showing proposed location of new building(s) Exhibit C With respect to site boundaries and existing buildings, and including proposed driveways and parking areas. b. A preliminary floor plan showing proposed partitions, door sizes and function of all rooms, etc. c, Typical elevations showing the outside location and appearance of main exterior features. PHASE 11: GUARANTEED PRICING Upon approval of the Preliminary Design Package, a guaranteed price will be developed and presented for Owners approval, including deductive alternates as may be required to meet budget needs and including additive alternates a may be recommended for more life cycle costing. The MAC Design Department will develop the best ideas and the best prices possible to be cost effective. The Construction department will be mindful of cost but will especially develop the best possible function and aesthetics relating to the facility. Management Architecture and Construction proposes to design and construct a 22.000 max sq. ft. Strip Center for a budget of 1.379.000.00. This contract excludes municipal improvements which will be required once the City of Lubbock reviews and declares its recommendations. PHASE III WORKING DRAWINGS After approval of the preliminary drawings final Construction Drawings will commence. This process will allow the owner to accomplish one source responsibility for plans. AGREEMENT; The terms of this agreement are $92,000.00 (Ninety Two Thousand Zero Dollars) due in 2 payments. The first payment of $46,000.00 due at 50% and a second p1ment of S46.000.00 due upon rural completion of drawings. This amount includes civil Fees due to Hugo Reed and Associates for Civil Site Engineering. APPROVED: MAC OWNER: (Management Architecture and Construction) By: By - Date: Date: Exhibit C Attachment 2 See the attached site map showing the location of all improvements to be constructed on the Real Property. 1 72 x Ld AAW - LKAJLLY-10 0 `Ro"; birw - *Nm*.Q*em low CLA "VIA. AM AAA I"- I A P"'EcT FOR DOWNTOWN DEVELOPMENT PRwomm =AM emm / MKIS nmmm LU800". TEW m- Lr-n --%z. A-1 { OF I 1nVa:% , s : I Exhibit C _ mm 40 .0 i�w .0 'je,� w 3w, ss-3w,mls 30 m na s M== sic s 11 MXN= sr m 3pC 7S 37t a^q W4 374 ]36 ]A S34Ste' 344 Us 3A , 341 30, �0 M : M I M" M. 3%MS 2a �/ � �1► �9w ♦,��, � �.a� ra w � � 3a � SGS Svr Soe m��v,t• zt+�xn zze � na .+s 'C u v 2�. as a7 m� as �,H � zw •e- H M "�Y�IIST SC 3 s , � � � � Uf MI 3."9 W 3a 323 U4 3M sa. 226 zs + a o z3o zx ru z33 . zaa �a x3e� as' 2a zse . • p 2p -V7 +�V t aff 331 117 :36 :Ja 134 133 132 136 A0 ; M l's! Ya'7 Yfi 77n 2' x' 27l 't70 ^.LV 347 aE6 �S 264 39 a62 l9 yM I. 2" EWST uys a. M UD IA "0 1.^.! IU Ul 124 IM 372E j : n : "E :74 JO in za -M b1 _ 29P i7 �6 ii9 m tt k _ 144 I"lc-.-... B2NDSr EinPL s 20 ' • 14 �4� s ,a F TR E s 5 " R83192 N t6 N 2DA N u• ,9 N6 Q 1 Ntil� TR urr aOw R82924 �F LOT ' R141456 TR 4 s i R78127 L©T 1 R103156 L' 4m sr %JOB .am Exhibit C Attachment 3 (a) A statement of the additional value to the Real Property or Facility as a result of the proposed improvements. Land value today is $95,000. The cost of proposed improvements per the attached Design -Build Contract is $1,379,000. The estimated total value of the land and improvements after construction is $1,600,000. (b) A statement of the assessed value of the Real Property for the base year. See the attached assessment from the Lubbock Central Appraisal District. (c) information concerning the number of new jobs that will be created. Not applicable. 1715 26th SL PO Box 10568 Lubbock, TX 79408-3568 Ph: 800-762-6000 x503 Fax: This certificate includes tax years up to 2008 CLS - City Of Lubbock CAD - Appraisal District HSP - Lubb Cnty Hospital GLB - Lubbock County i WHP - Hi Plains Water SLB - Lubbock ISO Pmerty Lnformadota Owner Information Property ID: AC10002-90488-00095-000 Owner ID: 00033602 Quick -Ref ID : R78127 Value Information NORTH & EAST LUBBOCK Land HS : $0.00 COMMUNITY DEVLOP INC PARKWAY DR LUBBOCK, Land NHS $11,352.00 PO BOX 3893 ! TX 79403 Imp HS $0.00 LUBBOCK, TX 79452 Imp NHS : $0.00 BLK A SEC 2 AB 488 TR B4 Ag Mkt : $0,00 Ownership: 100.00°k AC: 4.73 Ag Use $0.00 j Tim Mkt $0.00 Tim Use $0.00 HS Cap Adj i $0.00 Assessed $11,352,00I This Document is to certifythat r a Careful check of the Tax Records of this Ofrrce, the foiaowin Current or Deiin uent Taxes, Penalt�s, and inderest are 9 4 ` due on the Property for the Taxi Entities described above: af Entity Year Tax Dk4ount . P&I Atty Fee TOTAL CAD 2008 0.00 0.00 0.0o 0.00 0.00 j CLbi 2008 50.68 0.00 0.00 0.00 0.00 GLB 2008 37.03 0.00 0.00 0.00 0.00 i HSP 2008 13.70 0.00 0.00 0.00 0,00 f SLB 2008 140,20 0.00 0.00 0.00 0.00 wHP 2008 0.90 0.00 0.00 0.00 0.00 i Total for current bills If paid by 212812W9 : $0.00 Total due on all bills 212=009 : $0.00 { ] 2008 taxes paid for entity CAD $0.00 ] i 2008 taxes paid for entity CLS $50.68 ° 2008 taxes paid for entity GLB $37.03 2008 taxes paid far entity HSP $13.70 E 2008 taxes paid for entity SLB $140.20 I� 2008 taxes paid for entity WHP $0.90 , 2008 Total Taxes Paid • $242.51 Pr+opartjf fees _ = �. Cftar9 PaW 3 , ,,.:� . , , _. _ , ... .: .. , _ :. ✓ Tax Cart - SLB - 3,00 3.00 0.00 3.00 I Tax Cart - CLB - 3.00 3.00 0.00 3.00 Tax Cart - LCAD -1.00 1.00 0.00 1.00 Tax Cent - GLB - 3.00 3.00 0.00 3.00 j Total due on all property fees : $10.00 If applicable, the above -described property is receiving special valuation based on its use. Additional rollback taxes that may become due based on the provisions of the special valuation arc not indicated In this document. This certificate does not dear abuse of granted exarrptions as defined in Section 11.43, Paragraph (1) of the Texas Property Tax Code. Exhibit C "4L P-44� of Authorized Officer of the Tax Office n of Issue 01/3012009 NORTH & EAST LUBBOCK COMMUNITY 0-0-40na0 Exhibit C Attachment 4 Legal description. Exhibit C q-'P 9 7 Exhlblt "A" jam' „ti v F 6310 Gam Ave, SG A Phorw & Fm (W6) %5-"43 PERINIMR SURVEY OF A 4.735 ACRETRACT IN SgCnON & BLOCK A. LUE$oCK COUNTY. TEXAS k'F•FF_+I A.H0 BOUNDS lJK%CCRIPTION OF A 1 731 ACRE TL%CT OP U1h1D IN SDLTION =, AL= A, LWIB= CX Y, TWIJLS ©EINO A K*rJOV OF TILAT TRACT OE4CA1 = IN V01414E I117, PACW 3$7 OF TIM DM REAL Aw Or I.11Esj= COUNTY. T "AS AND FUN"INN-A DESCi UIM AS FOLLOWS: QL'GI1•ltln+I(1 AT A Lt" IR04 1t(]U FO{JND FOR TT IC ,54L17S•ltYEST C`ORNlBt OF' 71i15 7R.AG'T AT T1•tE NK7k1'HwF'YT C:CRMik OF LOT 1• Wj%MSLY AD0I11t)N TV rd CITY OF LEIIIHOCK, LLMDOCK C110M. TEXAS AS YHOWN BY TIM PLAT, MA►AN LAi11CAT10N Cu T hf; ItFCF FI OKLED W VOLUME 12b5, PACF. 413 OF 8AM RL'C&MlC re 1 £' 20- W, Ai.DNC TTIF CAST LM OF A 20 NI,It1T ALLOY, A OLTYANCE OF 290." FELT TO A C U)M CHCSR= ON I t b 7tJTYI ulsff OP PARK WAY RZIVG FOR'rHp NORTMVArT CORNER OF 74fl5 TkACI; TI L+Ce< N : A^t'7a" r, %LCMU SAH3 WUnI LW. A U ITANIZ OF 10.91 FF77 TO A 112' IR1IN ROD WITH CAP Wr FOR '"it r"r1 $En5T CCMU i t OF Y1VS TRtiCf AT 71W N4RTI `W=' OCK1 1 OF LOT 1, E.u'r L12AP0CX UAkAKY WR.ylM AN ADOI- TIOI{ TCs THE CITY OF LLTIBOCX LUbSOCK COUNTY, 1F-W AS SHOWN BY THE PLAT, MAP, Oft DEDICATION MMTIM POP w.t�C1RI3ia W VO1,L:deiS aal i/, ►ADfl CI OF TNf REdL PROPpLTY RFi(Y]RDS OF LL111Fi0CIi COIJK!'1, T'F,tIAB TFIrNCr $ V lgl " E AiDNG THE WY.ST LAKE OP SAID LOT I, EAST LUBBOCK LIBRARY 0"4CH. A DLffANCV OF 5Z&09 FEff 71.)A I12" IRON ROC V1T1 CAP dgr IN 1111E NUATH UNH OP IMO LOT 1. RAM=YAD0nXW FOR 7121011MAST COFlliti'JC OF TFLIS TRACT: THrNtr Y %rI4'Q4' W. AI -ONO THS NORTH Ujyh Ov !LAIC LOT 1. RAK4hY ADORION. A t1R1'rANM OF 4T1.71 FPS TO T119 P Aj� -P.GF UWLNNINQ. AO lT L .9IF11-L REc7h7MW M0FE5S?M%-. LAND S ANTiYOR. 00 HMEBY CIRr13rY THAT TM LCi0C W=N WAS MCIPARW FROM AN ACII NL SLRVUY CW TT W MUTRTY ANID THAT 111E WIPOdtb1 tM IO-350N M% a THE I 'I (V TM ARICY iu -rxz 9i31' OF A!Y �ti11W1 nngfi ANII OS'1 n 4'tA 3Cf .LS.Idf 3Qm vtYm AL'oAr: TIE URV)tY1g5lAUUCTTDANYPACTSTHATMAYBUDOICI MBYAFLuANSIAOCLIRATuTPfuSeAROL 1,Y�L'}.Q"li41f1L:CATF.°3AS IOl.P� QY7HL4:IURVF.Y AR8 t+'O?'>b}11•SfG14 AfONIIJ+I0I1I'S OY R><X]ORpD1CNiiI^UM�S S0 NOTl31a FGu ,t6 mL n ius -r5 ARE A=Y= O Y ,^, n SLRY1 YOR AY Cr1ttTACK, .M UVMCKM D%T TO YJ0UYANnALAQtMk&NT rY m RECM D=rMF,N13 DGA04SS Ra AT IYF 74 TT$ R TT~^CRU CALL OF *MM NORTH LIA1F_ OF SAIO LITr 1, KMiSFY ADOMCN. "c.os Exhibit C Attachment 5 See the attached: a. Certificate of Formation of Limited Partnership from the Secretary of State of Texas for Parkway Place Lubbock, LP; b. Certificate of Filing from the Secretary of State of Texas for Parkway Place Lubbock, LP; C. Certificate of Formation of Limited Liability Company from the Secretary of State of Texas for Parkway Place Lubbock GP, LLC; d. Certificate of Filing from the Secretary of State of Texas for Parkway Place Lubbock GP, LLC, Exhibit C Corporations Sectm 6 P.0.13ox 13691 Austin, Texas 78711-3697 W Office of the Secretary of State CERTIFICATE OF FILING OF Parkway Place Lubbock, LP Nile Number: 801048764 Hope Andrade Secretary of State The undersigned. as Secretary of State of Texas, hereby certifies that a Certificate of Formation for the above named Domestic Limited Partnership (LP) has been received in this office and has been found to conform to the applicable provisions of law_ ACCORDINGLY. the undersigned, as Secretary of State, and by virtue of the authority vested in the scuretary by hm, hereby issues this certificate evidencing filing effective on the date shown below. The issuance of this certificate does not authorize the use of a name in this state in violation of the rights of another under the federal Trademark Act of 1946, the Texas trademark law. the Assumed Business or Professional Name Act, or the common law. Dated: l I '2008 L•' Tective: l I106.2008 r�r �4 e4 Hope Andrade Secretary of State -ome ,nszt us on the Internet rat hrlp:,`:'wwlt.SOS.state.= us' Phore: � =12 ) 463-5 555 Fax. '512) 463-5709 Dial: 7-1-1 for Relay Services Prepared by: 3essica Qchoa TID: 10306 Document: 235715770004 Exhibit C Form 207 �I �•};t cap Filed in the O Secretary a ... ,......----........---......_,, � . � ,_____.-.._.-..�._�.._�:_..�._,_.._. .. :...._.._.�. f Ste#e�� -,Y, = I Office of the `P-O. Box 13697 t.� Secretary of State of Texas 'Austin, TX 78711-3697 Filing #: 801048764 11/06/2008 FAX: 5121463-5709 i Document #: 235715770004 �. Certificate of Formation r Image Generated Electronically Filing Fee: $750 Limited Partnership for Web Filing Article I - Entity Narne and Type The filing entity being formed is a limited partnership. The name of the entity is: Parkway Place Lubbock, LP The name must costa, r sithe words "Limited Partnership," of "Lim€tad " of tha eblareviation "L.P.," "LP," or "lid °The Harr• moat not be -the Barre as, deceptively Similar to or to that of an existing corporate, limited liability company, or limited partnership name an rile with the secretary or s=3t4. a prat urinary check for "�arne availab.lrty' is recommended. OfficeArticle 2 - Principal ThlB address of the principal e6ice in the United States where records of the partnership are to be kept or made available is set forth below: 9806 Qu.4ker Avenue, Lubbock, TX, USA 79424 Registered Agent and RegisteredOffice rA Thp initial registered agent is an organization (cannot be limited partnership named above) by the name of: 171 B, The initial registered agent is an individual resident of the state whose name is set forth below: .._........ Name: Rajeev Gill 1 The business address of the registered agentMa he registered ce, address iC. _ � - and the registered office address is: 3trAddress: t - 9806 Quaker Avenue Lubbock TX 79424 Article 4 - General Partner Information The name and address of each general partner are as follows: General Partner 1: (Business Name) Parkway Plane Lubbock GP, LLC Address: 9806 Quaker Avenue Lubbock TX, USA 79424 fTne attached addendum, if any, is incorporated herein by reference.] Effectiveness of Filing i A. This document becomes effective when the nnr.rrrnent is filed by Me secretary of state. OR B_ This document becomes effective at a Later date, which is not more than ninety (90) days from the date of its signing. The delayed effective date is: The undersigned signs this document subject to the penalties imposed by law for the submission of a materially false air fratedulent instrument. Signature of General Partner 1: Parkway Place Lubbock GP, LLC by ft"y Gill Manager FILING OFFICE COPY Exhibit C Corporations Section "tF, W U lox 13697 Visnn_ Fe%as 78711-3097 Office of the Secretary of State CERTIFICATE OF FILING OF Parkway Place Lubbock GP, LLC File Number: 801048753 Hope Andrade Secretary of State 'Fiie undersigned. as Secretary of State of Texas. hereby certifies that a Certificate of Formation for the above named Domestic Limited Liability Company (LLC) has been received in this office and has been ti)tlnd to conform to the applicable provisions of law. ACCORDINGLY, the undersigned. as Secretary of State, and by virtue of the authority vested in the secretary h>, law. hereby issues this certificate evidencing tiling effective on the date shoxim below. The issuance of this certificate does not authorize the use of a name in this state in violation of the rights of another under the federal Trademark Act of 1946, the Texas trademark law, the Assumed Business or Professional Maine Act, or the common lain. Dated: 1 1.06:2(.'0K Et2 ect ive: 11; 06:'6008 )> Hope Andrade Secretary of State 'tJT7':e visa l:S on "he inlenlet .at hap.:- w1ov,S S. S'1;2i4.iS. 4w =1,•..:.1 k_ I-) 1[7�_i1"j i=I`C: t 463-5709 Dml: 7-1-1 forReiav Sery ces TIC": 10306 Document'. 235715770W2 Exhibit C Secretary of State Filed in the Office of the C. Box 13697 Secretary of State of Texas .Austin, TX 75711-3697 `�. �i I' Filing #: 801048753 11/06/2008 FAX; 512/463-5709 Document #: 235715770002 Certificate of Formation Image Generated Electronically Filing Fee: s300 Limited Liability Company for Web Filing Article I - Entity Name and Type The Nir g entity being formed is a limited liability company. The name of the entity is: Parkway Place Lubbock GP, LLC The name of the en.ity must centan the words "Limited Liability company" or "Limited Company," or an accepted abbreviation of such terms. The name must not be the same as, deceptively similar to or similar to that of an existing corporate, limited liability company, or limited partnership ❑arse cn foie with the secretary of sate A preliminary c� peck for "name availability' ;s recommended. i A. The initial registered agent is an organization (cannot be company fumed above) by the name of: W-B. The initial registered agent is an individual resident of the state whose name is set forth below: Name: Rajeev Gill The business address of the registered agent and the registered office address is: Street Address: 9806 Quaker Avenue Lubbock TX 79424 Article .VA. The limited liability company is to be managed by managers. OR i B. The limited liability company will not have managers. Management of the company is reserved to the members. The names and addresses of the governing persons are set forth below: rnar.ager I' Rajeev Gill Title: Manager %dress 9806 Quaker Avenue Lubbock TX, USA 79424 Article 4 - Purpose The purpose for which the company is organized is for the transaction of any and all lawful business for which limited liability companies may be organized under the Texas Business Organizations Code, Supplemental Provisions 1 Information _ erourn, a.a^,y, s !c,ccrperateo herein by rererence.i Exhibit C The name and address of the organizer are set forth below. Rajeev Gill 9806 Quaker Avenue, Lubbock. TX 79424 Effectiveness of Filing VA. This document becomes effective when the document is filed by the secretary of slate. OR J T li5 dnci.tmer:t becomes effective at a cater date, which is not more than ninety (90) days from the date e of its signing. The delayed effective date is: The undersigned signs this document subject to the penalties imposed by law for the submission of a materially false or fraudulent instrument. - -- - _.._.. __.._.. ._ ....... .._....... . Rajeev Gill Signature of Organizer FILING OFFICE COPY Exhibit C Attachment 6 See the attached: a. Special Warranty Deed dated February 3, 2009 from North and East Community Development Corporation, a Texas non-profit corporation, as grantor, to North and East Lubbock Investment, Inc., a Texas corporation, as grantee; and b. Special Warranty Deed dated February 3, 2009 from North and East Lubbock Investment, Inc., a Texas corporation, as grantor, to Parkway Place Lubbock, LP, a Texas limited partnership, as grantee. Exhibit C FILE COPr qU1 GOMPARFD LUBBOCK ~� : h,-e-y CLERK NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OF THE FOLLOWING INFORMATION FROM THIS INSTRUMENT BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER. SPECIAL WARRANTY DEED Date: February 3, 2009 Grantor: North and East Lubbock Community Development Corporation, a Texas non-profit corporation Grantor's Mailing Address: 1625 13"' Street, Lubbock, Texas 79401 Grantee: North and East Lubbock Investment, Inc., a Texas corporation Grantee's Mailing Address:1708 Crickets Avenue, Lubbock, Texas 79401 Consideration: $10.00 and other good and valuable consideration. Property (including any improvements): A 4.735 acres tract (more or less) of land in Section 2, Block A, Lubbock County, Texas being a portion of that tract described in volume 1117, page 357, of the deed records of Lubbock County, Texas and further described in the attached Exhibit A. Reservations from and Exceptions to Warranty: Easements, rights -of -way, and prescriptive rights of record; all presently recorded restrictions, covenants, conditions, leases, mineral severances, and other instruments, other than liens and conveyances, that affect the Property; rights of adjoining landowners in any fences situated on common boundaries; any discrepancies, conflicts, shortages in area or boundary lines; any encroachments or overlapping of improvements; and zoning ordinances. Grantor, for the consideration and subject to the reservations from and exceptions to 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 successors or assigns forever. Grantor binds Grantor and Grantor's successors to warrant and forever defend all and singular the property to Grantee and Grantee's 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 warranty, when the claims is by, through or under Grantor, but not otherwise. GRANTEE ACKNOWLEDGES THAT GRANTOR HAS NOT MADE AND DOES NOT MAKE ANY REPRESENTATIONS AS TO THE PHYSICAL CONDITION OR ANY OTHER MATTERS AFFECTING OR RELATING TO THE PROPERTY (OTHER THAN THE WARRANTY OF TITLE AS SET OUT HEREIN), AND THAT GRANTEE HAVING Exhibit C BEEN PROVIDED HEREUNDER THE OPPORTUNITY TO INSPECT WILL RELY AND IS RELYING ENTIRELY ON GRANTEE'S INSPECTION AND INVESTIGATION OF THE PROPERTY WITH RESPECT TO ALL SUCH MATTERS. TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE PROPERTY IS HEREBY CONVEYED "AS IS" AND "WITH ALL FAULTS", AND GRANTOR EXPRESSLY DISCLAIMS, AND GRANTEE ACKNOWLEDGES AND ACCEPTS THAT GRANTOR HAS DISCLAIMED, ANY AND ALL REPRESENTATIONS, WARRANTIES OR GUARANTIES OF ANY KIND, ORAL OR WRITTEN, EXPRESS OR IMPLIED (OTHER THAN THE WARRANTY OF TITLE AS SET OUT HEREIN) CONCERNING THE PROPERTY, INCLUDING, WITHOUT LIMITATION, (i) THE VALUE, CONDITION, ZONING, MERCHANTABILITY, HABITABILITY, MARKETABILITY, PROFITABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR USE OR PURPOSE OF THE PROPERTY, (ii) THE MANNER OR QUALITY OF THE CONSTRUCTION OR MATERIALS INCORPORATED INTO ANY IMPROVEMENTS ON THE PROPERTY, (iii) ANY ENVIRONMENTAL MATTERS RELATING TO THE PROPERTY, AND (iv) THE MANNER, QUALITY, STATE OF REPAIR, OR LACK OF REPAIR OF THE PROPERTY. When the context requires, singular nouns and pronouns include the plural. Current taxes on the Property have been prorated between Grantor and Grantee, and Grantee assumes the obligation to pay such taxes. GRANTOR: North and East Lubbock Community Development Corporation By Printe me: , ✓� -t- Title: z y c, u 4, -ti(rr STATE OF TEXAS § COUNTY OF LUBBOCK § The foregoing instrument was ac Wedged before me on this-Wday of February, 2009, by ^ �,.. FI LTON BERRY, JFZIC L 1 wry N ary Public in and f the State T xas w„« I4AY A 2M2 Exhibit C +11p q 7 Exh(b!! "A" . loll fi7 -1 �y -a•� - k'- 6310 Gar. Avv, , Sm A rhans Fm (MMI 7W"42 am. PEMMETER SURVEY OF A 4.735 ACRE TRACT IN SIECTION & BLOCK A, LUBBOCK COUNTY. TEXAS ►IFYFS ANO e0LR7A Dt:%CNmcN or A 4,735 ACRE TRACT OP LAND IN 5DCTZN s, R;AC1 A. t.L1lIi0C,`!I L'dIlFITY: Tel! (MIND A "CnON OF T1 LAT TILACT OESCRf11GD IN "-timl I I t T, PAM UI OF TIM 0�9[i �CQAD! Or I VDIOGX COUNTY. '"AS 4NO FUIONi•Ot 05=1=1 AS FOLLOWS: QU0NNNt1 AT A lr;'tRON 900 MVKD r0R TI'M SOUI14twU7 CORNft 0VT4T3 TRACT AY TW NOATHWFXT C0FQ= OF LOT 1, M_A1,AS8Y ADOol N m 7f is Cry OF Lilt wrx. LiMOC1f Cf1(JNT'Y, TLDW AVLHOWN OY T14U PLAT, MAP. Ck LADIC'AMN =01 HkKFOF PL•CORDFD IN VOL"1W PAOR 451 OF 8A1b ALC.lIIWN; n1CNr, " PAST L DG OVA 20 ►VOT ALLOY, A DMAHM OF 22&77 FIST 70 A CMM CHt5M rn ON - - . i e .rJ !',it 5ut1TH Lpa0l1P vARxwAv LSAfYA FOIi'lidH NCR7ilWLiS7 CORNER OF TM7kACL; Tt 1LNCF.. N ,A^.4'3d' P-At JQ ±A-HS SOUTH LLNE, A DMANIM OP 367.9) MET TO A Ilr IRAN AOD WM CAP 997 FOR 7119 NMMUX CC 0414'01` TI-M TRACT AT TM NORHL WIIt CORNPJI OF WT 1, 2AYt LIJA?p('lr USIRMY OXANCK AN ADW- TON TnTHh CITY :F LLIVOM i V410" COUNTY, TT+" AS SHOWN I3Y THE PLAT, MAP.OR DMICATM O]W TIOMP ,tLCAR.OED IN YoI.UMtS 44I4, PA(3O A 0P THE RML PROP8R7Y RFCGR,pS OF LIJVK= COIAIIY, TTiI : rfCN - S Pillar 6 A'L P%V THk WWF LD48 Cf SAM L!J•T 1, LAST LMD= llaWY DRANIM A DLFTTANCV IA' w> p mT TU A 1/3' MON Roo WITH CAP SST ✓N INM ISIM771 L.M OP SAID LOT 1, NAMS11Y A10XXT )M P0% 711L¢ 20UT8ZW CDRWZ uF TT W -MACT. TIfemll; ! 19+10-N- W, ALLNO THIS NO;M LANK OP ffA1C LrOT 1. RAJ&4Vr AEC CW. A MMAN® OF 474.77 FFET 10 '"it? FI A<-P Qp OCIO W NRN(J, L ROnr711`L. V.QM f+$i1\TI-khU PVIOFESVMU, L ANC SUAVI YOR, 00 HIME SY COMY THAT TM DGSC3i 7" WAS PWARYO PROM AN ACn JAL RRM Wi TNri PVµ)pfSl'TY AND T I(Ar TL4i VMPA ATM may u rt>: ea raF'.rY Krx>un.�as ANLs n�. c:3FrtTt 1rr1i - .z 511NV��'L'R& pL'; c+P.T, C ; -r•.. � 1 r�`'y fi,' TFnSVJNVF.Yt5SU9tC+CTTDANY PACTSTHAT MAY=DWM46ifDBYAFLRLANDA CLMA'MTnUSP ROL )-w3`IJ1`,WM11 i&CATMASfQkMI7YTAIAi[YAYARE) OW'"tYSWALWONE8oOMOPRtx70RtIC6GNTIY"'tJt =SON07'LL► I'DUNO CIA tut?h'1'S ARE A 8 Y T IM SURV ENOR AY Cf 1t4TRW.M UYMCM= OM70 SlJ WANTLAL AOWMJ1I0C wm RffJ7R11D=DAEh- , ui:ARNa Wa-k7m, M THE R =RD C.1 019 NORTH L%W. OF SAM Wr 1, HAbt'JF.'Y Af>CrMK+I,L A: —NOW Exhibit C PILE Ci r NOT COMPARED 0z.a �dj -- LUBBOCK OOUI1�1'Y NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL P�, YOU MAY REMOVE OR STRIKE ANY OF THE FOLLOWING INFORMATION FROM THIS INSTRUMENT BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER. SPECIAL WARRANTY DEED Date: February 3, 2009 Grantor: North and East Lubbock Investment, Inc., a Texas corporation Grantor's Mailing Address: 1708 Crickets Avenue, Lubbock, Texas 79401 Grantee: Parkway Place Lubbock, LP, a Texas limited partnership Grantee's Mailing Address:9806 Quaker Ave., Lubbock, Texas 79424 Consideration: $10.00 and other good and valuable consideration. Property (including any improvements): A 4.735 acres tract (more or less) of sand in Section 2, Block A, Lubbock County, Texas being a portion of that tract described in volume 1117, page 357, of the deed records of Lubbock County, Texas and further described in the attached Exhibit A. Reservations from and Exceptions to Warranty: Easements, rights -of -way, and prescriptive rights of record; all presently recorded restrictions, covenants, conditions, leases, mineral severances, and other instruments, other than liens and conveyances, that affect the Property; rights of adjoining landowners in any fences situated on common boundaries; any discrepancies, conflicts, shortages in area or boundary lines; any encroachments or overlapping of improvements; and zoning ordinances. Grantor, for the consideration and subject to the reservations from and exceptions to 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 successors or assigns forever. Grantor binds Grantor and Grantor's successors to warrant and forever defend all and singular the property to Grantee and Grantee's 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 warranty, when the claims is by, through or under Grantor, but not otherwise. GRANTEE ACKNOWLEDGES THAT GRANTOR HAS NOT MADE AND DOES NOT MAKE ANY REPRESENTATIONS AS TO THE PHYSICAL CONDITION OR ANY OTHER MATTERS AFFECTING OR RELATING TO THE PROPERTY (OTHER THAN THE WARRANTY OF TITLE AS SET OUT HEREIN), AND THAT GRANTEE HAVING Exhibit C BEEN PROVIDED HEREUNDER THE OPPORTUNITY TO INSPECT WILL RELY AND IS RELYING ENTIRELY ON GRANTEE'S INSPECTION AND INVESTIGATION OF THE PROPERTY WITH RESPECT TO ALL SUCH MATTERS. TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE PROPERTY IS HEREBY CONVEYED "AS IS" AND "WITH ALL FAULTS", AND GRANTOR EXPRESSLY DISCLAIMS, AND GRANTEE ACKNOWLEDGES AND ACCEPTS THAT GRANTOR HAS DISCLAIMED, ANY AND ALL REPRESENTATIONS, WARRANTIES OR GUARANTIES OF ANY KIND, ORAL OR WRITTEN, EXPRESS OR IMPLIED (OTHER THAN THE WARRANTY OF TITLE AS SET OUT HEREIN) CONCERNING THE PROPERTY, INCLUDING, WITHOUT LIMITATION, (i) THE VALUE, CONDITION, ZONING, MERCHANTABILITY, HABITABILITY, MARKETABILITY, PROFITABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR USE OR PURPOSE OF THE PROPERTY, (ii) THE MANNER OR QUALITY OF THE CONSTRUCTION OR MATERIALS INCORPORATED INTO ANY IMPROVEMENTS ON THE PROPERTY, (iii) ANY ENVIRONMENTAL MATTERS RELATING TO THE PROPERTY, AND (iv) THE MANNER, QUALITY, STATE OF REPAIR, OR LACK OF REPAIR OF THE PROPERTY. When the context requires, singular nouns and pronouns include the plural. Current taxes on the Property have been prorated between Grantor and Grantee, and Grantee assumes the obligation to pay such taxes. GRANTOR: North and East Lubbock Investment, Inc., a Texas corporation Printe me: c �, ,�c ;�►, Title: STATE OF TEXAS COUNTY OF LUBBOCK The foregoing February, 2009, by MAY 23,2012 99M ment was. yckn&edged before me on this— Oday of ry Public in and or the State( Exhibit C Resolution No. 2009—R0098 Exhibit "A" jq 1 _ 63I0 Gum A+e, Ste. A Phase & You (M) 76&%43 LIP V,FYINO Lubbealk7X %24 rtnua, PEYUNI TERSURVEYOs: A 4.735 ACRE TRACT iN SEC710N 2, MOCK X LU800CX COUNTY, Te7CAS I6'FIF3 AND B004A OL'i LPTION Or A a, 73S ACRE TRACT C91r1NP IN Mcrm 2, PILO= A, J.LLam COUNTY. TMS nEINa A itki note OF ri lAT TRACT OF.SCW90 1i1 V01 AINE 1 I tt PAak 3S7 OF TIM CM RP=RW CP f4mam COUh1Y. TF'JCAS AND FUXI)-wit OESC7tMMAS FOLLOWS; 0 jO M SIn AT A u1• Ut0N Rc1❑ tOUI(f7 AOR TI M ,SOLIT WM COME)t 01 Txn TRACT AT TM N0kTHW MT OOf17= OF LOT I, R.AMSCY A,Di:010m TV nil CITY Of LUBROCK. LUDDOCK OWNTY. TEXAS AS 41HOWN AY TIM PLAT,1MO.OR JaW A7M [=U 7 kkkFOF RErCOPLED IN VOLUME J=% PAOi 03 OF $AST RQC,1kU).9 ; W:r .' ! I fe 1 r"., r yr, ALONG THK FAST LINE OVA 24 tWT ASLAY, A OLWAIAM OF 21&77 rf5T TO A C104 CiiZ3TiL , ON ...::,L-14.:ik:SOUnl L.2111OF PARKWAY DRIVO FOR 'I'MCNORTIMSr CORM" OF TFGSTRACr. T lL�+Ca N AS�f'}Q• G ,1L17t1d WD SOU77I LItiP. A OLRTANM OF 367,97 FFTT TO A 11!' IRJj1 ROLL 41m CAP 07" T136 t"INUST CYNV.dIt OF THIS TRACT AT'W NORTKWSST COKWA OF LOT 1, EAST LIMSOCK LJBXARY BR,R}! X AN AWI- 'ION MTprt CITY CF CL'BBOM I.UaOCX COUWN, TF]W AS SHOWN BY THE PLAT, MAP. Olt 09D1CATION D=TIFL' MF R. CgRD:O W W)UMti JJ 11• PA01110 OFTNE RLV, PROPERTY RFCORDS OF LUV WCR 1OL]lerY, TItXM 3 n1 W4= S rle'2lr 5 A14NO THk WW LDM Of 1AW lLIT 1. PAST L.LMB= LIBRARY SLAiJM A OUTANCKOV S" FEET TU A lir IRON ROU W)TH CAP 96T IN 174 NORTH UINS OP SAJO LOT 1, RAMMY AL)LII'TK)M FOX 711E SOUSti'BArt CONIKKA OF M3 7RACT. THt:N(-% S x1r1O-W W, ALONG Tt1'E KOM UNB Or SAID LOT 1. I1A AW.Y APD11l10N. A r=rALNCS OF 04.17 "ff 70 T111i Pt A(-F OP ACC W NIN0. L AWt-74T L '04M FtWFV'FX%'U FIOFESVML LAND SURV17YOK 00 XMMY C> r7>PY THAT THIS p3g� WAS KDAUD FROM AN ACT1 tA✓. SLRVLY UP T}Mi M61MTY AND TILIT THR WFOFJAAT0* t&XKN RII7MNI N" 71te Fb)i"s ri Tm S Avff r 1u T�PEiT Cf MY I�tA7 rrx3E AND A�2P. •r.'tirz7f.,T.,rRi ' .: � -x r5_YU sus<vt�SnaeRr: '�� �' '�'.. `off • TTQSSENWYtSSLWOC'TMANY FAMTHATAAY=OL ABYAMUAND!0XRAMTTRJ-'VA CLL a+1vL?4_T*ItY tttpICATF� AS itOLA`d) QY ")'NLR:it1RYIi'Y NLPNCT'?F1Y�7CAL 1.FONt11.tI'kTS OY JiFx?ORD DJQ7d1T'Tr VNLB� SQ NOTSU. Ftll.It'4D a4]1A MT*,75 ARE AC1ZP7tit Id Y nM SURVVOR A $ CIWTRC VJW UVMC•Na DUE TO SIJtt TANTIAL AGRM6&VY %TIw P-EX-M D= MF]-7& DCAUZCSRL3.ATIYF,TO11MR' 0k0C.V.LOFn9HORTII'.1W.plyUIDLO 1,9A&dWYADVITICJK X. :4 V.VJ