Resolution TIRZ- First Amendment to Project Plan 2006-03-27RESOLUTION APPROVING FIRST AMENDMENT TO PROJECT PLAN AND
REINVESTMENT ZONE FINANCING PLAN
WHEREAS, Reinvestment Zone No. Two, City of Pearland, Texas (the "Zone was
created by Ordinance No. 891 of the City of Pearland, Texas (the "City pursuant to
Chapter 311 of the Texas Tax Code, as amended; and
WHEREAS, the City intends to enlarge the boundaries of the Zone by ordinance, to
include additional areas adjacent to the Zone; and
WHEREAS, the Project Plan and Reinvestment Zone Financing Plan adopted in
connection with the creation of the Zone (the "Plan should be amended to reflect the
addition of the annexed tract, and the Zone Board has approved a First Amendment to the
Plan; now therefore,
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF REINVESTMENT ZONE
NO. TWO, CITY OF PEARLAND, TEXAS, THAT:
Section 1:
and correct.
The facts recited in the preamble hereto are hereby found to be true
Section 2: The First Amendment to the Plan, as provided in Exhibit A attached
hereto to accommodate the addition of the annexed tract to the Zone (the "First
Amendment is hereby determined to be feasible and is approved. The Zone Board
hereby requests the City Council of the City to approve the First Amendment, and the
appropriate officials of the Zone are authorized to take all steps reasonably necessary to
implement the First Amendment upon approval of same by the City.
Section 3: The officers and consultants of the Zone are hereby authorized and
directed to do any and all things reasonably necessary for the implementation of this
resolution and to assist the City in the consideration and approval of the First Amendment.
PASSED and APPROVED the 27th day of March, 2006.
ATTEST:
2
Secretary, Boar: of Directors
67972
Chairman, Board of Directors
THE STATE OF TEXAS
COUNTIES OF BRAZORIA AND FORT BEND
I, the undersigned officer of the Board of Directors of Reinvestment Zone Number Two, City
of Pearland, Texas, hereby certify as follows:
1. The Board of Directors of Reinvestment Zone Number Two, City of Pearland, Texas,
convened in regular session on the 27th day of March, 2006, at the regular meeting place thereof,
and the roll was called of the duly constituted officers and members of the Board to -wit:
and all of said persons were present, except Director(s) thus constituting
a quorum. Whereupon, among other business, the following was transacted at the meeting: a
written
was introduced for the consideration of the Board. It was then duly moved and seconded that the
resolution be adopted, and, after due discussion, the motion, carrying with it the adoption of the
resolution, prevailed and carried unanimously.
2. That a true, full and correct copy of the aforesaid Resolution adopted at the meeting
described in the above and foregoing paragraph is attached to and follows this certificate; that the
Resolution has been duly recorded in the Board's minutes of the meeting; that the persons named in
the above and foregoing paragraph are the duly chosen, qualified and acting officers and members
of the Board as indicated therein; that each of the officers and members of the Board was duly and
sufficiently notified officially and personally, in advance, of the time, place and purpose of the
aforesaid meeting, and that the Resolution would be introduced and considered for adoption at the
meeting, and each of the officers and members consented, in advance, to the holding of the meeting
for such purpose; that the meeting was open to the public as required by law; and that public notice
of the time, place and subject of the meeting was given as required by Chapter 551, Texas
Government Code.
67972
CERTIFICATE FOR RESOLUTION
Nigel Harrison Chair
Gary Cook Vice Chair
Mike Pyburn Secretary
Jo Knight Director
Ron Castillo Director
Gary Davis Director
Donna Coleman Director
Larry Loessin Director
Ken Philips Director
RESOLUTION APPROVING FIRST AMENDMENT TO PROJECT PLAN AND
REINVESTMENT ZONE FINANCING PLAN
SIGNED this the 27th day of March,
2006.
l
✓e Secretary, B and of rrctors
DRAFT FOR DISCUSSION ONLY
REINVESTMENT ZONE NUMBER TWO
CITY OF PEARLAND, TEXAS
1 ST AMENDMENT TO PROJECT PLAN
AND REINVESTMENT ZONE
FINANCING PLAN
SHADOW
CREEK
RANCH
DRAFT FOR DISCUSSION ONLY
CITY COUNCIL
2005 -2006 Council Members
Mayor Hon. Tom Reid
Mayor Pro -Tem Hon. Woody Owens
Council Member Hon. Richard Tetens
Hon. Larry Marcott
Hon. Kevin Cole
Hon. Steve Saboe
City Manager William Eisen
1" Amendment to TIRZ 2 Project and Financing Plan 2
Z
DRAFT FOR DISCUSSION ONLY
BOARD OF DIRECTORS
2005 -2006 Board Members
Position 1
Position 2
Position 3
Position 4
Position 5
Position 6
Position 7
Donna Coleman
State Senator Designee
Gary Davis
State Representative Designee
Nigel Harrison, Chair
City of Pearland Designee
Gary Cook, Vice Chair
City of Pearland Designee
Ken Phillips
City of Pearland Designee
Jo Knight
City of Pearland Alvin
Independent School District
Designee
Mike Pyburn
Alvin Independent School District
Designee
Position 8 Ron Castillo
Fort Bend County Designee
Position 9 Larry Loessin
Brazoria County Designee
I Amendment to TIRZ 2 Project and Financing Plan 3
Eligible Project Description
Total Estimated Project Cost
Infrastructure
Administration /Creation
Zone
$109,633,923
City Facilities
$5,000,000
Educational Facilities
$134,100,000
Grand Total
$248,733,923
DRAFT FOR DISCUSSION ONLY
1 AMENDMENT TOTHE PROJECT PLAN AND
REINVESTMENT ZONE FINANCING PLAN FOR
REINVESTMENT ZONE NUMBER TWO,
CITY OF PEARLAND (SHADOW CREEK RANCH)
I. OVERVIEW
The City of Pearland (the "City created Tax Increment Reinvestment Zone Number
Two (Shadow Creek Ranch) by City Ordinance No. 891, dated December 21, 1998. The
Project Plan and Reinvestment Zone Financing Plan (the "Plan was approved by the
Board of Directors of the Zone and adopted by Council on August 23, 1999. The Zone as
originally designated contained 3,467 acres of vacant, undeveloped land generally
bounded by Clear Creek on the north, State Highway 288 on the east, County Road 92
(the extension of FM 518 west of S.H. 288) on the south, and FM 521 on the west.
The Plan describes the purpose of the Zone as financing regional public infrastructure
improvements necessary to develop the Zone as quality mixed -use development creating
a self- sustaining tax base. The chart below summarizes the total estimated Project Cost
for the Zone as approved in the Plan.
A Feasibility and Marketing Study performed by American Metro /Study Corporation
found that the proposed development was viable and probable to succeed. In addition to
the City's participation, the Zone secured the participation of both Brazoria County and
Ft. Bend County, and of Alvin Independent School District as reflected in the Plan and as
memorialized in respective Interlocal agreements.
1" Amendment to TIRZ 2 Project and Financing Plan 4
DRAFT FOR DISCUSSION ONLY
II. REQUEST FOR THE ANNEXATION OF ADDITIONAL LAND
Chapter 311.007(b) of the Texas Tax Code provides that:
The governing body of the municipality or county may enlarge an existing
reinvestment zone to include an area described in a petition requesting
that the area be included in the zone if the petition is submitted to the
governing body of the municipality or county by the owners of property
constituting at least 50 percent of the appraised value of the property in
the area according to the most recent certified appraisal roll for the
county in which the area is located.
On December 19, 2005, Harlow Royalties, Ltd., Randall D. Rudy, Russell T. Rudy
Pearland Investments Limited Partnership and Pearland 132 Development, LP, the
owners of property constituting at least 50 percent of the appraised value in the area,
submitted to the City a petition requesting annexation of approximately 457 acres into
the Zone. The Board of Directors of the Zone has determined that it would be advisable
for additional land to be annexed into the Zone to foster the development of property
adjacent to the Zone and to provide additional public works and improvements. The
Board of Directors on January 30, 2006, approved the preparation of an Amendment to
the Plan (the "Plan Amendment to accomplish the annexation of approximately 457
acres of vacant land, adjacent to the Zone.
III PRELIMINARY PROJECT PLAN AMENDMENT
A. Existing Uses and Conditions (31 1.01 1(b)(1))
The aerial photo map below reflects the boundaries of the existing Zone and the area
proposed for annexation. The aerial photo shows the proposed annexation area as
vacant. It should be further noted that 287.32 acres are in Brazoria County and 169.56
acres are in Fort Bend County. Upon adoption of this Plan Amendment the boundaries of
the Zone will be amended to include proposed annexation area which is more particularly
described on Exhibit "A" attached hereto.
1 Amendment to TIRZ 2 Project and Financing Plan 5
DRAFT FOR DISCUSSION ONLY
B. Proposed Improvements and Proposed Uses (311.011(b)(1))
The Plan Amendment is intended to facilitate a program of public infrastructure including
water, wastewater and storm sewer improvements, lakes and channel improvements,
landscape, parks and trails, along with roadway improvements including streets,
improvements to FM 518 (Broadway Street) and related signalization. These public
improvements will allow the Master Developer of Shadow Creek Ranch, Shadow Creek
Ranch Development Company, L.P., to continue in the annexed area with the quality
development currently being constructed in Shadow Creek Ranch, with approximately
1120 single family homes planned along with approximately 614,000 square feet of
commercial development.
I Amendment to TIRZ 2 Project and Financing Plan 6
DRAFT FOR DISCUSSION ONLY
C. Proposed Changes of Municipal Ordinances, Master Plan, or Codes
(311.011(b)(2))
Other than the ordinance required for the annexation of the proposed area into the Zone
this Plan Amendment will not require any change to other ordinances, plans or codes of
the City of Pearland.
D. Non Project Cost (311.011(b)(3))
This Plan Amendment does not require any change to the Non Project Costs included in
the Plan.
E. Method of Relocating Persons (311.011(b)(4))
This Plan Amendment does not require any change to the relocation provisions of the
Plan.
I Amendment to TIRZ 2 Project and Financing Plan 7
ELIGIBLE PROJECTS
ESTIMATE OF COST
Infrastructure
Streets
Pavement
$1,634,000
Lighting
$125,900
Water System
$363,000
Wastewater System
$1,029,000
Storm Sewer System
$1,649,000
Lakes Channels
$5,625,600
Land Cost
$6,675,000
Landscaping Buffers
$5,573,025
Major Road Infrastructure
FM 518 Improvements
$6,485,600
Traffic Signals
$550,000
Contingencies Engineering
Contingencies (10
$1,733,620
Engineering (15
$2,860,473
Master Drainage Plan Costs
$70,000
Environmental Study Costs
$100,000
Subtotal
$34,474,218
Annexation Cost
$250,000
Subtotal
$250,000
TOTAL
$34,724,218
DRAFT FOR DISCUSSION ONLY
IV. PRELIMINARY REINVESTMENT ZONE FINANCING PLAN
AMENDMENT
A. Estimated Project Costs (311.011(c)(1))
With the adoption of the Plan Amendment the estimated costs of eligible improvements
in the Plan will be amended to include the following additional costs in 2006 dollars:
Additionally, Exhibit G to the Plan will be amended to increase the Annual TIRZ
Administration by $25,000 per year.
1 Amendment to TIRZ 2 Project and Financing Plan 8
DRAFT FOR DISCUSSION ONLY
B. Kind, Number and Location of Proposed Public Improvements
(311.011(c)(2))
The inclusion of the annexed area will enable the Zone, via Master Developer funding
and Zone reimbursement, to facilitate a program of public infrastructure and roadway
improvements necessary to develop the vacant and undeveloped land that is the subject of
this annexation. It is anticipated that the proposed improvements may include the
following:
Water facilities
i Amendment to TIRZ 2 Project and Financing Plan 9
DRAFT FOR DISCUSSION ONLY
Wastewater facilities
NO
A M R '".aiBi: R I Rif A u.
Stormwater facilities
Lakes and channels and associated land costs
Landscaping and buffers and associated land costs
LEGEND
SE'CR IMAUnf
1" Amendment to TIRZ 2 Project and Financing Plan 10
7 ,10
DRAFT FOR DISCUSSION ONLY
Paving, lighting, and signalization improvements
FM 518 (Broadway Street) improvements
Na. -CC BU °;aNn
IEGEND
r 1 ea. .r11 2224,2212222
r,* X1 1 25 PAWfraurt Em„)N,
ao...m1 -n MYfhTM 2222n2242 r
C. Economic Feasibility Study (311.011(c)(3))
Shadow Creek Ranch has sold over 2,000 homes since opening in 2002. The current
sales rate averages between 20 and 25 homes per week through the efforts of 20 merchant
homebuilders. Homes prices range from $150,000 to $1 million. Even factoring in a 15-
month delay in the start of construction for the development, Shadow Creek Ranch has
produced sales volumes and assessed valuations at or above the original financial
projections for the Zone. Shadow Creek has been recognized at the fastest selling
planned community in the Houston Pearland market area and is in fact second in the
entire region behind only the Woodlands.
D. Estimate of Bonded Indebtedness to be Incurred (311.011(c)(4))
This Plan Amendment will increase the estimate of bonded indebtedness in the Plan from
the original $114,633,923, by the amount necessary to yield additional net proceeds of
1 Amendment to TIRZ 2 Project and Financing Plan 11
Taxing Entity
Zone Years
Percent Participation
City of Pearland
8
100% (a)
9 -30
100% (b)
Brazoria County
8 -30
38%
Fort Bend County
8 -10
100%
11 -20
75%
21 -30
50%
DRAFT FOR DISCUSSION ONLY
$34,724,218. Both amounts may be adjusted according to the Engineering News Record
Index over the life of the Zone.
E. Time When Related Costs or Monetary Obligations Are To Be Incurred
(311.011(c)(5))
The improvements contemplated in this Plan Amendment will be funded by the Master
Developer, shall be considered Master Developer Improvements as defined in the Plan
and shall be reimbursed according to the provisions of the Plan.
F. Methods of Financing And Sources of Revenue (311.011(c)(6))
The Methods of Financing described in the Plan under F.1 Funding Project Costs remains
unchanged by this Plan Amendment. The Sources of Revenue derived from participating
jurisdictions being asked to participate in the Plan Amendment are summarized in the
chart below. Participation in the Plan Amendment will be memorialized in writing by
Interlocal Agreements to be negotiated.
(a) 36% to be repaid as an Administrative Cost, provided never more than $0.255
(b) 64% to be repaid as an Administrative Cost, provided never more than $0.44
G. Total Current Appraised Value (311.011(c)(7))
As previously noted the annexed area is astride two counties, with 287.32 acres in
Brazoria County and 169.56 acres in Fort Bend County. The most current certified
appraised values are the 2005 certified values of the Brazoria County Appraisal District
and the Fort Bend Central Appraisal District as shown below:
1 Amendment to TIRZ 2 Project and Financing Plan 12
Tax Year
Total Current Appraised Value
City of Pearland
$2,905,330
Brazoria County
Brazoria County
Fort Bend County
Fort Bend County
Base Year
Incremental
Value
Cumulative
Value
Base Veer
Incremental
Value
Cumulative Value
Base Year
Incremental
Value
Cumulative
Value
2006
2,905,330
2,905,330
1,878,480
1,878,480
1026,850
1,026,850
2007
2,905,330
1578,480
1028,850
2008
13,551,735
16,457,065
13,551,735
15,430,215
1,026,850
2009
108,637,587
111542,917
98,271,667
100,150,147
10,365,920
11592,770
2010
253,534,488
256,439,818
179,915,906
181,794,386
73,618,582
74,645,432
2011
314,790875
317,696,205
185,890,898
187,769,378
128,899,977
129,926,827
2012
336,390,395
339,295,725
201,983,500
203,861,980
134,406,895
135,433,745
2013
361,178,747
364,084,077
223,374,818
225,253,298
137,803,929
138,830,779
2014
370,379,235
373,284,565
229,076,361
230,954,841
141,302,874
142,329,724
2015
379,855,737
382,761,067
234,948,950
236,827,430
144,906,787
145,933,837
2016
389,816,534
392,521,864
240,997,716
242,876,196
148,618,618
149,646,668
2017
399,670,156
402,575,486
247,227,946
249,106,426
152,442,210
153,489,050
2018
410,025,388
412,930,716
253,645,082
255,523,562
156,380,303
157,407,153
2019
420,691,272
423,596,602
260,254,733
262,133,213
160,436,540
161,483,390
2020
431,677,136
434,582,466
267,062,873
268,941,153
164,614,463
185,641,313
2021
442,992,575
445,897,905
274,074,851
275,953,331
168,917,724
169,944,574
2022
454,647,478
457,552,808
281,297,395
283175,875
173,350,083
174,376,933
2023
466,652,027
469,557,357
288,736,614
290,615,094
177,915,413
178,942,263
2024
479,016,713
481,922,043
296,399,011
298,277,491
182,617,703
183,644,553
2025
491,752,340
494,657,670
304,291,279
306,169,759
187,461,061
188,487,911
2026
504,870,035
507,775,365
312,420,316
314,298,796
192,449,720
193,476,570
2027
518,381,262
521,286,592
320,793,223
322,671,703
197,588,039
198,614,889
2028
532,297,825
535,203,155
329,417,318
331,295,798
202,880,507
203,907,357
Jurisdiction
Total Current Appraised Value
City of Pearland
$2,905,330
Brazoria County
51,878,480
Fort Bend County
$1,026,850
DRAFT FOR DISCUSSION ONLY
The Total Current Appraised Value will be based upon the certified appraised values for
the annexation area as of January 1, 2006, which are not yet available.
H. Estimated Captured Appraised Value (311.011(c)(8))
The base year for this Plan Amendment will be 2006. The chart below shows the base
year value by jurisdiction and the resulting projections for captured appraised value for
the balance of the life of the Zone. Both the value and revenue projections below are
based on 2005 certified values and 2005 adopted tax rates.
Captured Appraised Value Summary
Note: Base Year will be 2006 and will be updated when 2006 Values are available
The following chart shows the revenue projected to be generated on the captured
appraised value, for each expected participant.
1 Amendment to TIRZ 2 Project and Financing Plan 13
DRAFT FOR DISCUSSION ONLY
H. Duration of Zone (311.011(c)(9))
The duration of the Zone remains unchanged.
1 Amendment to TIRZ 2 Project and Financing Plan
i
14
Ad Valorem Revenue Summary
Property Tax Revenue
Tax Year
City of Pearland
Brazorla County
Fart Bend County
Total Annual
Cumulative
Base
Incremental
Total
Base
Incremental
Total
Base Incremental Total
Increment
Increment
Revenue
Revenue
Increment
Revenue
Revenue
Increment
Revenue Revenue Increment
2006
20,185
6,799
5,378
2007
2008
30,505
30,505
-16,776
18776
47,281
47,281
2009
244,544
275,049
121,649
136,425
36,646 36,646
402,639
450,120
2010
570,708
845,757
222,715
361,140
260,260 296,906
1,053,683
1,503,802
2011
708,596
1,554,353
230,112
591,252
455,693 752,599
1,394,401
2,898,203
2012
757,217
2,311,570
250,033
841,284
475,161 1,227,760
1,482,411
4,380,614
2013
813,016
3,124,585
276,513
1,117,797
487,171 1,714,931
1,576,699
5,957,313
2014
833,726
3,958,311
283,570
1,401,387
499,540 2,214,471
1,616,837
7,574,150
2015
855,058
4,813,369
290,840
1,692,207
512,281 2,726,752
1,858,179
9,232,328
2016
877,029
5,690,398
298,328
1,990,535
525,404 3,252,158
1,700,761
10,933,089
2017
899,660
6,690,058
306,040
2,296,575
538,921 3,791,077
1,744,621
12,877,710
2018
922,970
7,513,028
313,984
2,610,559
552,843 4,343,919
1,789,796
14,467,508
2019
946,979
8,460,006
322,166
2,932,725
378,122 4,722,041
1,647,266
16,114,772
2020
971,708
9,431,714
330,593
3,263,318
387,968 6,110,009
1,690,269
17,805,041
2021
997,179
10,428,893
339,273
3,602,591
398,110 5,508,120
1,734,563
19,539,604
2022
1,023,414
11,452,308
348,214
3,950,805
408,557 5,916,676
1,780,185
21,319,789
2023
1,050,437
12,502,744
357,423
4,308,228
419,316 6,335,993
1,827,176
23,146,965
2029
1,078,270
13,581,014
366,908
4,675,137
430,399 6,766,391
1,875,577
25,022,542
2025
1,108,938
14,687,951
376,679
5,051,815
441,814 7,208,205
1,925,429
26,947,971
2026
1,136,466
15,824,417
386,741
5,438,555
453,571 7,661,777
1,976,778
28,924,749
2027
1,166,879
16,991,296
397,105
5,835,661
465,681 8,127,458
2,029,666
30,954,415
2028
1,198,206
18,189,502
407,781
6,243,442
478,155 8,605,613
2,084,142
33,036,557
DRAFT FOR DISCUSSION ONLY
H. Duration of Zone (311.011(c)(9))
The duration of the Zone remains unchanged.
1 Amendment to TIRZ 2 Project and Financing Plan
i
14
DRAFT FOR DISCUSSION ONLY
EXHIBIT "A"
DESCRIPTION OF
457 ACRES MORE OR LESS
ANNEXATION TRACT
REINVESTMENT ZONE NO. 2, CITY OF PEARLAND, TEXAS
January 17, nos
Job No. 1545•2005•TIRZ
Being 457 acres, more or fess, of Land located In the H.T. B.R.R. Co. Survey, Section 84
(R.B. Lyle) Abstract No. 538, Brenda County, Texas and Abstract No. 767, Fort Bend County,
Texas and the A.B. Langermann Survey, Abstract No, 555, Fort Bend County, Texas, more
particularly being all of that certain called 2121 acre tract conveyed to the City el Pearland, Texas
by instrument of record under Fite No. 2005008365, Official Records, Brazada County, Texas
B.C.O.R.), all of the residue of that certain called 160.048 acre tract conveyed to Pearland
Investment Limited Partnership by instrument of record under File No. 03- 044886 and File No.
2004059020, B.C.O.R., all of that certain called 80.01 acre tract conveyed 10 Russell T, Rudy and
Randall D. Rudy by instrument of record under Fllo No. 97. 009257, B.C.O.R. and File No. 97-
08685, Official Records, Fort Bend County, Texas (F.B.C,O.R.), all of that certain called 80 acre
tract conveyed to Harlow Royalties, Inc. by an Instrument of record under File No. 95-039382,
B.C.O.R. and File No. 95. 70977, F.B.C.O.R., all of that certain called 132.5682 acre tract
conveyed to Pearland 132 Development, Limited Partnership by an Instrument of record under File
No. 2004148674, Official Public Records, Fort Bend County, Texas (F,B.C.O.P.R.) and a portion of
that certain called 522.62 acre tract conveyed to Ashton Southern Trails Joint Venture by
instrument of record under File No. 04.002615, B.C.O.R., said 457 acres, more or less, being more
particularly described by metes and bounds as follows:
BEGINNING at a point in the northerly line of the aforementioned H.T.& B.R.R. Co. Survey,
Section 84, the southerly line of the H.T.& B.R.R. Co. Sunray, Section 83, Abstract No. 305,
Brazarla County, Texas and being the southeast corner of that certain called 50.981 acre tract
(described as tho south one -half of Davis Tract) conveyed to Ralph S. Davis Jr. in 'Agreed Final
Judgment in Partition" et record under File No. 02.060820, B.C.O.R. and File No. 2002136052,
F.B.C.O.P.R., the northwest corner of that certain called 522.62 acre tract of land conveyed to
Ashton Southern Trails Joint Venture by instrument of record under File No. 04.002615, B.C.O.R.
and the northeast comer of said 160.048 acre tract;
I Amendment to TIRZ 2 Project and Financing Plan
`7
Page 1 of4
15
DRAFT FOR DISCUSSION ONLY
457 Acres
January 17, 2006
Joh No. 1545.2005-TIR7
Thence, EASTERLY, with the northerly line of said 522.62 acres, and the common lines of
said H.T.& B.R.R. Co. Survey, Section 84 and said H.T.& B.R.R. Co. Survey, Section 83, 2,640
feet, more or less, to a point on the centerline of County Road No. 48;
Thence, SOUTHERLY, with said centerline of County Road No. 48, end the common line of
said H.T. B.R,R. Co. Survey, Section 84, Abstract No. 538 and the H.T. B.R.R. Co. Survey,
Section 80, Abstract No. 564, 70 feet, more or less to a point for corner;
Thence, WESTERLY, leaving said centerline and common survey line, 2640 feet, more or
Tess, to a point on the westerly lino of said 522.62 acre tract and the easterly line of said 160.048
acre tract
Thence, SOUTHERLY, along the westerly line of said 522.62 acre tract and the easterly
line of said 160.048 acre tract, passing at a distance of 2,570 feet, more or less, the northwest
corner of Lot. 1 of Block 84 of Allison Richey Gull Coast Homo Company Part of Suburban Gardens
as recorded in Volume 2, Page 98, Plat Records, Brazoria County, Texas (B.C.P.R,I, continuing in
all a distance of 5,212 loot, more or less, to a paint for corner in the southerly line of said H.T.&
B.R.R. Co. Survey, Section 84, the northerly line of Section 2 of the H.T.& B.R.R. Co, Survey,
Abstract No. 566, Brazoria County, Texas and at the southwest corner of Lot 4 of said Block 84;
Thence, WESTERLY, along the common lines of said H.T.& B.R.R. Co. Survey, Section 84
and said H.T.& B.R.R Co. Survey, Section 2, a distance of 2,640 feet, more or less, to a point for
corner, same being the southwest of saki Section 84 and In the easterly line of the Manuel
Escalera Survey, Abstract No, 654, Brazorla County, Texas and Abstract No, 169, Fort Bend
County, Texas;
Thence, NORTHERLY, along the common lines of said H.T.& B.R.R. Co. Survey, Section
84 and said Manuel Escalera Survey, a distance of 3,194 feet, more or less, to a point for corner,
same being the southeast corner of the aforesaid 132.5682 acre tract and the common east corner
of said Manuel Escalera Survey and the aforementioned A.B. Langennann Survey;
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DRAFT FOR DISCUSSION ONLY
457 Acres January 17, 2006
Job No. 1545.2005.TIRZ
Thence, WESTERLY, along the common tines of said Manuel Escalora Survey and said
A.B. Langermann Survey and the souther' Ilne of said 132.5682 acre tract, a distance of 3,359
feet, more er less, to a point for corner, same being the southwest corner of said 132.5682 acre
tract and in the easterly right-of-way tine of F,M, 521;
Thence, NORTHEASTERLY, along the common nos of said 132,5582 acre tract and said
EM. 521, a distance of 2056 feet, more or loss, to a point for corner, same being the northwest
corner of said 132.5882 acre tract, In the southerly line of that certain called 229.519 acre tract
conveyed to Pearland Investments, Limited Partnership by an instrument of record under File No.
1999028261, F,B.C.O.R. and In the northerly line of said A.B. Langermann Survey and In the
southerly line of the Franklin Hooper Survey, Abstract No. 198, Fon Bend County, Texas;
Thence, EASTERLY, along the common lines of said 132,5682 acre tract and said 229.519
acre tract and the common lines of said A.B. Langermann Survey and said Franklin Hooper
Survey, a distance of 2,632 feet, more or less, to a point for corner, same being the common
easterly comer of said A,B. tangerrnann Survey and said Franklin Hooper Survey and in the
westerly line of the aforementioned H.T.& B,R.R. Co. Survey, Section 84;
Thence, NORTHERLY, along the common lines of said Franklin Hooper Survey and said
H.T.& B.H.R. Co, Survey, Section 84, a distance of 158 foot, more or toss, to a point for corner,
same being the common westerly comer of said Section B4 and the aforementioned H.T.& B.R.R.
Co. Survey, Section 83 and the common westerly corner of the aforementioned 50.981 acre tract
and the aforementioned 80 acre tract;
Thence, EASTERLY, along the common lines of saki H.T.& B.R.R. Co. Survey, Section 84
and said H.T.& B,R,R. Go. Survey, Section 83 and the southerly fine of saki 50.981 acre tract, a
distance of 2,640 feet, more or less, to the POINT OF BEGINNING and containing 457 acres, more
or lass, al land.
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