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1985V1028P656 r EXHIBIT D UTILITY EASEMENT CITY OF COLLEGE STATION TRACT two (2) tracts of land for a 30-foot wide permanent public utility ,. entnt (Tract One) and a Wastewater Treatment Plant (WWTP) (Tract Two) '00 ft . x 200 ft.) situated in the S.W. Robertson Survey, Abstract 202 , Brazos County, Texas, out of a 1265.37 acre tract of land con- ) veved to the City of College Station, Texas, by deed recorded in Volume 488, Page 756 of the Deed Records of Brazos County, Texas, the boundary of said tracts being more fully described as follows : 1'EL•\CT ONE BEGINNING at the common intersection point as described in the City of College Station Tract - Utility Easement - Exhibit "A", Exhibits "B", and Exhibit "C" above; h 'CHENCE S 20°43' 13" E 15.00 feet to a point for corner; ' THENCE S 69°16'47" W 299.63 feet to a point for corner; THENCE N 23°26'48" W 0.73 feet to the southeast corner of a WWTP Site (Tract Two) and continuing for a total distance of 30.03 feet to a point for corner; THENCE N 69°16'47" E 301 .05 feet to a point for corner; , THENCE S 20°43' 13" E 15.0 feet to the POINT OF BEGINNING and the end of this Description. I TRACT TWO BEGINNING at the southeast corner of said WWTP Site as described in ; Tract One above; THENCE S 66°33' 12" W 200.00 feet to a point for corner; THENCE N 23°26'48" W 200.00 feet to a point for corner; THENCE N 66°33' 12" E 200.00 feet to a point for corner; THENCE S 23°26'48" E 170.70 feet ,to a point , same point also being the northwesterly corner of a 30-foot wide easement described in Tract One above and continuing contiguous with the most westerly line of Tract One for a total distance of 200.00 feet to the POINT OF BEGINNING and the end of this Description. SURVEYED BY: (C.:„ /44...,&1"../7)4s•• dt� ~•s;.k E.R. McDow, Jr. ..t . Registered Public Surveyor • E R. McDOW, JR. No. 3755 3755 GB•�.ot$1i. �',d� IC•Supc4 January, 1985 VOL 1028 PA 656 EXHIBIT A UTILITY EASEMENT CITY OF COLLEGE STATION TRACT Eating a strip of land 30 feet wide for a permanent public utility easement situated in the S.W. Robertson Survey, Abstract No. 202, Brazos County, Texas, out of a 1265.37 acre eaa�ecordedland inconveyed 488,to tPagei756 of the of College Station, Texas, by de Deed Records of Brazos County, Texas, the boundary of said easement being more fully described' as follows: the most northeasterly property corner COMMENCING at an iron rod marking THENCE S 03°09'07" E of the above mentioned City of Coll�goeertation tract; said City of College contiguous with the most easterly p p Y line Station tract a distance of 2139.76 feet to the POINT OF BEGINNING of this easement Description; t TH CE S 03°09'07" E continuing contiguous with said northeast property line a •istance of 33.86 feet to an anglepoint; TH CE S 59°13'14" W 273.83 feet to an angle point; T ENCE N 82°20'08" W 2050.16 feet to an angle point; ENCE S 71°26'22" W 171.93 feet to an angle point; TNCE N 75°53'38" W 1913.22 feet to an angle point; rT ENCE S 65°33'12" W 817.36 feet to a point for corner; T1ENCE N 24°26'48" W 20.00 feet to a point, said point also being the Ic moron intersection point as described in the City of College Station T aet - UtilityEasement - Exhibit "A" (this description) and Exhibits "p", "C" and D�� below; THENCE continue N 24°26'48" W 10.00 feet to a point for corner; TiENCE N 65°33'12" E 827.85 feet to an angle point; TiENCE S 75°53'38" E 1914.92 feet to an angle point; THENCE N 71°26'22" E 170.13 feet to an angle point; THENCE S 82°20'08" E 2046.69 feet to an angle point; THENCE N 59°13' 14" E 279.07 feet to the POINT OF BEGINNING and the end of this Description. SURVEYED BY: �• E.R. McDow, Jr. « I Registered Public Surveyor E. R. McOOW. JR. 4 No. 3755 .p•, 3755 :�1; � �.t? . EXHIBIT B UTILITY EASEMENT , CITY OF COLLEGE STATION TRACT Being a strip of land 30 feet widefor a permanent public utility easement situated in the S.W. Robertson Survey, Abstract No. 202, Brazos County, Texas, out of a 1265.37 acre tract of land conveyed to the City of College Station, Texas, by deed recorded in Volume 488, Page 756 of the Deed Records of Brazos County, Texas, the boundary of said easement being more fully described as follows: ( BEGINNING at an iron rod marking the southwest property corner of the above mentioned City of College Station tract, said iron rod also being the south- easterly corner of a 478.18 acre tract of land conveyed to W.D. Fitch by deed recorded in Volume 703, Page 8 of the Deed Records of Brazos County, Texas; THENCE N 39°36'48" W contiguous with the southwest property line of said City of College Station tract a distance of 37.34 feet to an angle point; ' THENCE N 86°48'42" E parallel and 30 feet north of the most southerly ( property line of said tract a distance of 516.87 feet to an angle point; THENCE N 53°43'24" E 470.73 feet to an angle point; THENCE N 43°04'59" E 2020.53 feet'to an angle point; THENCE N 01°24'21" W 488. 10 feet to an angle point; THENCE N 30°25'08" W 376.93 feet to a point for corner; THENCE N 59°34'52" E 10.00 feet to a point, said point also being the common intersection point as described in the City of College Station Tract - Utility Easement - Exhibit "A" above and Exhibits "C" and "D" below; THENCE continue N-59°34'52" E 20.00 feet to a point for corner; THENCE S 30°25'08" E 384.69 feet to an angle point; THENCE S O1°24'21" E 508. 13 feet to an angle point; THENCE S 43°04'59" W 2035.59 feet to an angle point; I , THENCE S 53°43'24" W 482.52 feet to an angle g point, said point also being on the most southerly property line of said City of College Station tract; THENCE S 86°48'42" W contiguous with said property line a distance of 503.55 feet to the POINT OF BEGINNING and the end of this Description. SURVEYED BY: c- • ,; �` - E.R. McDow, r. QF T Registered Public Surveyor P�••''it.- No. 3755 dZ, E. R. McDOW. JR. tu. 37550,06.6. January, 1985 B�%�8,Ti.o.`j? i VOL 1 ?8 MG':654 . 1 EXHIBIT C UTILITY EASEMENT CITY OF COLLEGE STATION TRACT Being a strip of land 30 feet wide for a permanent public utility easement situated in the S.W. Robertson Survey, Abstract No. 202, Brazos County, Texas, out of a 1265.37 acre tract of land conveyed to the City of College Station, Texas, by deed recorded in Volume 488, Page 756 of the Deed Records of Brazos County, Texas, the boundary of said easement being more fully described as follows: COMMENCING at a half-inch iron rod set in the southeast right-of-way line of Greens Prairie Road, said iron rod also being the common property corner of the above mentioned City of College Station tract and a 477.92 acre tract of land conveyed to W.D. Fitch by deed recorded in Volume 703, Page 8 of the Deed Records of Brazos County, Texas, said commontcorner resulting from the dedication of Greens Prairie Road recorded in Volume 495, Page 453 of the Deed Records of Brazos County, Texas; THENCE S 39°36'48" E contiguous with the common property line of said City of College Station tract and W.D. Fitch tract a distance of 747.55 feet to the POINT OF BEGINNING of this easement Description; THENCE S 86°17'43" E 786.52 feet to an angle point; THENCE S 85°52'03" E 511.36 feet to an angle point; THENCE N 87°36'57" E 617. 18 feet to an angle point; T�IENCE S 60°30'58" E 505.71 feet to an angle point; /HENCE S 60°26'58" E 1639.75 feet to an angle point; HENCE S 85°25'18" E 1453.26 feet to an angle point; THENCE S 41°12'58" E 1544.62 feet to an angle point; THENCE S 48°47'02" W 20.00 feet to a point, said point also being the common intersection point as described in the City of College Station Tract - Utility Easement - Exhibit "A" and Exhibit "B" above and Exhibit "D" below; THENCE continue S 48°47'02" W 10.00 feet to a point for corner; 'THENCE N 41°12'58" W 1532.44 feet' to an angle point; HENCE N 85°25' 18" W 1447. 72 feet to an angle point; THENCE N 60°26'58" W 1646.38 feet to an angle point; 1 CTHENCE N 60°30'58" W 497. 13 feet to an angle point; 'THENCE S 87°36'57" W 610.33 feet to an angle point; THENCE N 85°52'03" W 512.95 feet to an angle point, THENCE N 86°17'43" W 758.12 feetto point for corner, said point also being n the common property line of the aforementioned tracts; HENCE N 39°36'48" W contiguous with said common property line a distance f 41.23 feet to the POINT OF BEGINNING and end of this Description. SURVEYED BY: G W/?� f A 41/4 E.R. McDow, Jr. C:•' hr. ' ..Registered_.Public_ Surveyor •••S "* No. 3755 E. R. MOMfJR. N 1'4705 4k= op;its tc,t ey° April, 1985 Q:.�V- VOL 1028°AGF 655 402703 CORRECTION DEED OF TRUST . • ' Ltlii.--- STATE OF TEXAS ) idlnitolb. f ) KNOW ALL MEN BY THESE PRES COU�N' Y OF BRAZOS ) 1rhat COLLEGE STATION ECONOMIC DEVELOPMENT FOUNDATION, a Texas Non rofit Corporation, of Brazos County, Texas, hereinafter called "GRANTOR" , for the purpose of securing the indebtedness her inafter described, and in consideration of the sum of TEN DOL RS ($10.00 ) to it in hand paid by the Trustee hereinafter nam d, the receipt of which is hereby acknowledged, and for the further consideration of the uses, purposes and trusts herein- aft set forth, has GRANTED, SOLD and CONVEYED, and by these presents does GRANT, SELL and CONVEY unto William Kingdon Cole, Trustee, of Brazos County, Texas, and his substitutes or succes- sorsti, all of the following described property hereinafter "the propjerty" situated in Brazos County, Texas, to-wit: 'All that certain 749. 98 acre tract or parcel of land, lying and being situated partially in the S.W. Robertson League, Ab- strat No. 202, and partially in the Nathan Clampitt League, Ab- stract No. 90, Brazos County, Texas, and being a portion of a called 1265 . 37 acre tract conveyed by Robert F. Spearman to the City/ of College Station, Texas, by deed recorded in Volume 488, Page 756 of the Deed Records of Brazos County, Texas, and being more particularly described by metes and bounds as follows : f COMMENCING at a 1/2 " iron rod found marking the southeast corner of said 1265. 37 acre tract; THENCE S 86° 49 ' 29" W for a distance of 7219 . 91 feet to a 1/2" iron rod found marking the south- ernmost corner of said 1265 . 37 acre tract; THENCE N 39° 34 ' 26" W for a distance of 248.48 feet to a 5/8" iron rod found marking the PLACE OF BEGINNING; THENCE N 86° 49 ' 29" E for a distance of 817 . 62 feet to a 1/2" iron rod set for corner; THENCE N 27° 49 ' 29" E for a distance of 536 . 67 feet to a 1/2" iron rod set for angle point; THENCE N 44 ° 59 ' 29" E for a distance of 2000 .00 feet to a 1/2" iron rod set for corner; THENCE N 37 ° 00 ' 31 " W for a distance of 1114. 55 feet to a 1/2" iron rod set for corner, said corner lying in the centerline of an unnamed proposed road; THENCE N 64 ° 34 ' 37" E for a distance of 1448. 32 feet with the centerline of said proposed road to a 1/2" iron rod set for beginning of a curve to the left; THENCE in a northeasterly direction along the 7i7J-c-5T said curve, having a central angle of 36° 00 ' 00", a radius of 1294.43 feet and a chord which bears N 46° 34 ' 37" E for a distance of 800.00 feet, to a 1/2" iron rod set for end of said curve; - 1 - 4/ Z2—) "4 [ Initialed for VOL 1( ?8rAGc� IniIdentification This conveyance, however, is made in TRUST to secure payment of one promissory Note of even date given in the principal sum of THREE MILLION DOLLARS ($3, 000, 000 . 00 ) executed by GRANTOR, pay- able to the order of the CITY OF COLLEGE STATION, a Texas Munici- pal Corporation, in the City of College Station, Brazos County, Texas (hereinafter sometimes referred to as the "CITY" and some- times as the "Beneficiary" ) , and other good and valuable consid- eration which includes, but is not limited to, a fifty percent ( 50% ) net revenue interest in profits derived from the develop- ment of the property, as provided in the Note. Should GRANTOR do and perform all of the covenants and agree- ments herein contained, and make prompt payment of said indebted- ness as the same shall become due and payable, then this convey- ance shall become null and void and of no further force and effect, and shall be released at the expense of GRANTOR, by the holder thereof, hereinafter called Beneficiary (whether one or more ) . GRANTOR covenants and agrees as follows : 1 . GRANTOR shall use its best efforts to create an attrac- tive, well-planned and maintained industrial park, the purpose of which is to attract industry and commerce to the City of College Station. 2 . GRANTOR shall provide for the collection of all sums due to th,e GRANTOR and otherwise enforce the obligations of all par- ties ith which the GRANTOR enters contracts or other arrange- ment for the purposes of the Contract to Sell and Convey Real prop rty executed by the parties on May 23 , 1986, (hereinafter refe red to as Contract) . 3 . GRANTOR shall keep all books of account and other records necessary and/or generated from the fulfillment of the purposes of t e Contract to Sell and Convey Real Property executed on May 23, 1986. Accounting for the GRANTOR, and the annual audit of the ,books and records associated herein, may be conducted by the Beneficiary's auditor upon request by the City Council . L4. GRANTOR agrees to make all pertinent documents and rec- ordsof GRANTOR available to the auditor or to any independent accornting firm employed by the Beneficiary. p. In the event GRANTOR decides to place infrastructure on the property or any parcel(s) thereof, GRANTOR shall oversee the design and construction of any infrastructure improvements on the Property and any parcel( s) of the Property. �6 . In the event GRANTOR decides to place infrastructure on the property or any parcel(s) thereof, the infrastructure con- stru tion contract shall be awarded to the lowest responsible bidder in conformity with the requirements of Article 2368a, Texas Revised Civil Statutes. . GRANTOR shall pay or cause to be paid all debts and other obli ations incurred in the carrying out of the Contract, includ- ing mounts due to the Beneficiary. $. GRANTOR shall maintain all funds in an account or ac- counts in a bank or banks in Brazos County unless Beneficiary re- quest funds not maintained in a particular Brazos County bank. However, if a lender other than a Brazos County bank, that pro- videfunds for infrastructure or the other improvements on the subject property, requires compensating balances, GRANTOR may comply with such request even if same is not a Brazos County bank. 9. GRANTOR shall obtain all authorizations and approvals re- quired to be obtained from all governmental agencies having jur- isdiction. - 3 - A---3- -- v° {� Initialed for VOL 1028 PAGE-644 Identification 10. In the event GRANTOR should amend its charter to operate on basis other than a non-profit corporation for the purpose of industrial development within or near City of College Station; or in event GRANTOR should dissolve as a corporation; or in the event GRANTOR should use any surplus funds accumulated by it from conveyance and/or leasing of the real property herein conveyed for purposes other than industrial development for City of Col- lege Station on a non-profit basis, any such charter amendment, corporate dissolution, or the use of such surplus funds for such oth r purposes shall constitute a violation of these covenants. 1 . The Beneficiary shall have no liability for repayment of any loans obtained in connection herewith, unless specifically authorized and approved by the City of College Station . 12. No right or claim shall be made against the Beneficiary for a lost sale, lease, opportunity, or other damage or loss or shall ever be premised upon the City of College Station's actions in requiring compliance with the terms of the Contract. t 13. No act or refusal to act by the City of College Station made, taken, or refused in reasonable reliance upon an opinion by the CITY's attorney that the same would be unlawful, voidable, or void, subject to judicial invalidation or would subject the City of College Station to liability outside that contemplated in the Contract shall ever be the basis for any claim by GRANTOR, its successors and assigns, or by any third party seeking to benefit from the relation set forth herein . 14. GRANTOR is lawfully seized of said property, and has the right to convey the same; that said property is free from all liens and encumbrances, except as herein provided. 15 . GRANTOR shall protect the title and possession of said property and pay when due all taxes and assessments now existing or hereafter levied or assessed upon said property, or the interest therein created by this Deed of Trust. 16. GRANTOR shall keep the improvements on said property in good repair and condition, and not to permit or commit any waste thereof. 17. GRANTOR shall insure and keep insured all destructible improvements now or hereafter created upon said property against loss or damage by fire and windstorm, and any other hazard or hazards as may be reasonably required from time to time by Benef ciary during the term of the indebtedness hereby secured, to t e extent of the original amount of the indebtedness hereby secured, or to the extent of the full insurable value of said improvements, whichever is the lesser, in such form and with such Insu ance Company or Companies as may be approved by Beneficiary, and o deliver to Beneficiary the policies of such insurance havi g attached to said policies such mortgage indemnity clause as B-neficiary shall direct; to deliver renewal of such policies to B-neficiary at least ten (10) days before any such insurance poli ies shall expire; any proceeds which Beneficiary may receive uncle, any such policy, or policies, may be applied by Bene' icia.ry, at his option, to reduce the indebtedness hereby secured, whether then matured or to mature in the future, and in such manner as Beneficiary may elect, or Beneficiary may permit GRANTOR to use said proceeds to repair or replace all , improvements damaged or destroyed and covered by said policy. 1p. In the event GRANTOR shall fail to keep the improvements now r hereafter created on the property hereby conveyed in good repair and condition, or to pay promptly when due all taxes and assessments, as aforesaid, or to preserve the prior lien of this Deed of Trust on said property, or to keep the buildings and im- provements insured, as aforesaid, or to deliver the policy, or policies, of insurance or the renewal thereof to Beneficiary, as aforsaid, then Beneficiary may, at his option, but without being - 4 - kt)/ -- lJN" Initialed for ( Identification ;Vol 1028 PA 645 required to do so, make such repairs, pay such taxes and assess- ments, purchase any tax title thereon, remove any prior liens, and prosecute or defend any suits in relation to the preservation of the prior lien of this Deed of Trust on said property where applicable, or insure and keep insured the improvements thereon in an amount not to exceed that above stipulated; that any sums which may be so paid out by Beneficiary and all sums paid for in- surance premiums, as aforesaid, including the costs, expenses and attorney ' s fees paid in any suit affecting said property when ' necessary to protect the lien, shall be paid by GRANTOR to Bene- ficiary upon demand , at the same place at which the above descri- bed note is payable, and shall be deemed a part of the debt here- by s cured and recoverable as such in all respects. 1 . That in the event of default in the payment of any in- stal ments of the note hereby secured , in the payments of any othe sums due and owing the Beneficiary by the GRANTOR, or of a bre ch of any of the covenants herein contained to be performed by RANTOR, then and in any of such events Beneficiary may elect, is TOR hereby expressly waiving presentment and demand fot pay ent, to declare the entire principal indebtedness hereby se- curd with all interest accrued thereon and all other sums hereby sec red immediately due and payable, and in the event of default in t e payment of said indebtedness when due or declared due, it shall thereupon, or at any time thereafter, be the duty of the Tru tee, or his successor or substitute as hereinafter provided, at e request of Beneficiary (which request is hereby conclui- siv ly presumed) , to enforce this trust; and after advertising the time, place and terms of the sale of the above-described and conveyed property, then subject to the lien hereof, for at least twenty-one (21 ) days preceding the date of sale by posting writ- ten or printed notice thereof at the Courthouse door of the coun'ty where said real property is situated, which notice may be posthed by the Trustee acting, or by any person acting for him, and, if then required by applicable law of the State of Texas, noti e of the proposed sale shall be given also by filing, at least twenty-one (21 ) days before the date of the sale, a copy of such notice in the office of the County Clerk of the county wherein the Property to be sold is situated, which notice shall desi nate the county in which the sale of the Property is made, whic notice may be filed by the Trustee acting, or any person for im, and, the Beneficiary (the holder of the indebtedness se- cure hereby) has, at least twenty)-one (21 ) days preceding the date of sale, served written or printed notice of the proposed sale by certified mail on each debtor obligated to pay the in- debtedness secured by this Deed of Trust according to the records of Beneficiary, by the deposit of such notice, enclosed in a postpaid wrapper, properly addressed to such debtor at debtor ' s most recent address as shown by the records of Beneficiary, in a post: office or official depository under the care and custody of the United States Postal Service. The Trustee shall sell the above described property, then subject of the lien hereof, at public auction in accordance with such notice at the Courthouse door of said county where such real property is situated (provi- ded where said real property is situated in more than one county, the otice to be posted as herein provided shall be posted at the Cour house door of each county where said real property is sit- uate , and said above described and conveyed property may be sold at t e Courthouse door of any one of such counties, and the no- tices so posted shall designate the county where the property will be sold) , on the first Tuesday in any month between the hours of ten o' clock a.m. and four o ' clock p.m. , to the highest bidder for cash, selling all of the property as an entirety or in such parcels as the Trustee acting may elect, out of the money arising from such sale. The Trustee acting shall pay first, all the expenses of advertising the sale and making the Conveyance, including a commission of five percent (5%) to himself, which commission shall be due and owing in addition to the attorney' s fees provided for in said Note, and all other indebtedness secured hereby, rendering the balance of the sales price, if any, to GRANTOR, its successors and assigns; and the recitals in the - 5 - eh �! nitialed for V0;, 1.�� 3;'�c 6413 Identification conveyance to the Purchaser, or Purchasers shall be full and conclusive evidence of the truth of the matters therein stated, andlall prerequisites to said sale shall be presumed to have been performed, and such sale and conveyance shall be conclusive aga ' nst GRANTOR, its successors and assigns. 0. It is agreed that in the event a foreclosure hereunder shoild be commenced by the Trustee, or his substitute or succes- sor, Beneficiary may at any time before the sale of said property direct the said Trustee to abandon the sale, and may then insti- tute suit for the collection of said Note, and for the fore- cloure of this Deed of Trust lien; it is further agreed that if Beneficiary should institute a suit for the collection thereof, and1for a foreclosure of this Deed of Trust lien, that he may at any time before the entry of a final judgment in said suit dis- miss the same, and require the Trustee, his substitute or succes- sor, to sell the property in accordance with the provisions of this Deed of Trust. 21. Beneficiary shall have the right to purchase at any sale of the property, being the highest bidder, and to have the amount foriwhich such property is sold credited on the debt then owing. 22 . Beneficiary in any event is hereby authorized to appoint a substitute Trustee, or a successor Trustee, to act instead of the Trustee named herein without other formality than the desig- nation in writing of a substitute or successor Trustee; and the authority hereby conferred shall extend to the appointment of other successor and substitute Trustees successively until the indebtedness hereby secured has been paid in full, or until said property is sold hereunder, and each substitute and successor Trustee shall succeed to all of the rights and powers of the original Trustee named herein. 23 . In the event any sale is made of the above described property, or any portion thereof, under the terms of this Deed of Trust, GRANTOR, its successors and assigns, shall forthwith upon the making of such sale surrender and deliver possession of the property so sold to the Purchaser at such sale; and in the event of their failure to do so, they shall thereupon from and after the making of such sale be and continue as tenants at will of such Purchaser; and in the event of their failure to surrender possession of said property upon demand, the Purchaser, his heirs or assigns, shall be entitled to institute and maintain an action of forcible detainer of said property in the Justice of the Peace Precinct in which such property, or any part thereof, is situ- ated. 24. It is further agreed that if GRANTOR, its successors or assigns, while the owner of the hereinabove described property should commit an act of bankruptcy, or authorize the filing of a voluntary petition in bankruptcy, or should an act of bankruptcy be committed and involuntary proceedings instituted or threaten- ed, or should the property hereinabove described be taken over by a Receiver for GRANTOR, its successors and assigns, the note hereinabove described shall , at the option of Beneficiary, imme- diately become due and payable, and the acting Trustee may then procel#d to sell the same under the provisions of this Deed of Trus . 2 . It is agreed that an extension, or extensions, may be made at the time of payment of all, or any part, of the indebted- ness secured hereby, and that any part of the above described rea property may be released from this lien. 26 This note shall be governed by and construed in accord- ant with Texas law and applicable federal law. The parties hereto intend to conform strictly to the applicable usury laws. The 'viaker has agreed, in addition to the repayment of the princi- pal amount of this note, to pay to the Payee the hereinabove des- cri1ed portion of the profit from the sale of the property. In I k--22 - Initialed for Identification No', 1028 Ng 647 the event (and to the extent) that the amount contracted for, charged, or received as profit is deemed interest under applic- able law on this Note, notwithstanding anything herein to the contrary, the amount of profits shall be limited absolutely to an amount which, taken together with all other interest otherwise contracted for, charged or received upon such indebtedness, does not exceed the maximum lawful amount of interest under applicable law. In no event, whether by reason of demand for payment, pre- payment, acceleration of the maturity hereof or otherwise, shall the interest contracted for, charged or received by Beneficiary hereunder or otherwise exceed the maximum amount permitted by applicable law. If from any circumstance whatsoever interest would otherwise be payable to Beneficiary in excess of the maxi- mum amount permitted by applicable law, the interest payable to Beneficiary shall be reduced automatically to the maximum amount permitted by applicable law. If Beneficiary shall ever receive anyth,Cng of value deemed interest under applicable law, which woul apart from this provision be in excess of the maximum law- ful' - mount, an amount equal to any amount which would have been exce sive interest shall be applied to the reduction of thv prin- cipes amount owing hereunder in the inverse order of its maturity and of to the payment of interest, or if such amount which would hav been excessive interest exceeds the unpaid balance of prin- cip 1 hereof, such excess shall be refunded to GRANTOR. All in- ter st paid or agreed to be paid to Beneficiary shall, to the ex- ten permitted by applicable law, be amortized, prorated, alloca- ted,y and spread throughout the full stated term (including any ren wal or extension) of such indebtedness so that the amount of int rest on account of such indebtedness does not exceed the max- imunn amount permitted by applicable law. The provisions of this paragraph shall control all existing and future agreements be- twein Maker and Beneficiary. R7 . GRANTOR shall be entitled to receive and use any and all suml which may become payable to GRANTOR for the condemnation of the \hereinabove described real Property or any part thereof, for pub is or quasi-public use, or by virtue of private sale in lieu theeof, any sums awarded, or to become payable to GRANTOR for damages caused by public work or construction on or near the pro erty. All sums so received shall be treated as the proceeds fro the sale or lease of the above described property and applied according to the formula set forth in paragraph 31 here- in. 8. All of the covenants and agreements herein undertaken to be erformed by and the rights conferred upon the respective GRA TOR named herein, shall be binding upon and inure to the ben fit of not only said parties respectively but also their re- spective GRANTEES, successors and assigns. 9. GRANTOR expressly represents that this Deed of Trust and the Note hereby secured are given for the following purpose, to- wit j As therein made and provided, The note hereby secured is given as part of the pur- chase price of the herein-described real property,and this Deed of Trust is in addition to the Vendor ' s Lien retained in a deed this day given by the City of Col- lege Station to the College Station Economic Develop- ment Foundation securing the payment of the indebted- ness described herein, and it is expressly agreed that the same shall not operate as a waiver of the lien created by this Deed of Trust, it being agreed that said lien and rights created by this instrument shall be cumulative in addition to said Vendor ' s Lien men- tioned above, and that the owner or holder of the above-described indebtedness may foreclose under either or both of said liens, as it may elect, without waiving the other . - 7 - A72, lit)W Initialed for Identification VOL 1028 nA;r 648 30 . It is specifically agreed that this Deed of Trust also secures Beneficiary in the payment of any and all undebtedness herefter to become owing by GRANTOR to Beneficiary. 31. GRANTOR may sell or lease all or part of the property to a bo a fide purchaser or leasee . Upon such sale or lease, Bene- fici ry shall release any liens or subordinate liens, subject to the following: ( a) GRANTOR shall pay from the proceeds of the sale the cost of constructing any infrastructure improvements on the property on a prorata, per acre or fractional acre basis I or as the parties may otherwise agree; (b) GRANTOR has provided Beneficiary with a survey of the property to be sold, said survey containing an acreage calculation to 1/10 of an acre prepared by a licensed public land surveyor or civil engineer approved by Beneficiary; (c) GRANTOR has provided Beneficiary with copies of all documents necessary to the sale or lease of such property; and (d) GRANTOR has paid any and all of GRANTORS closing costs associated with any sale of the property. GRANTOR may substitute real property as collateral if the property is of reasonably equal value. This deed is made in place of and to correct a Deed of Trust from Grantor to Grantee, dated June 27, 1986, and recorded in Volume 894, Page 672, of the Official Deed Records of Brazos County, Texas. By mistake the exhibits to be attached to Exhibit A to the Deed of Trust were not attached. This correction deed is made by Grantor and accepted by Grantee to correct that mistake, is effective on June 27, 1986, and in all other respects confirms the former deed.II yy EXECUTED this %i1 i`'day of ,( A.D.I ,C.GvAA(-1 1988. COLLEGE STATION ECONOMIC ATTEST: DEVELOPMENT FOUNDATION BY: /1.)17,0%;„ B • . 4. .ikftLamihrigedit_A-u-...... WILLIAM S NSIBAU DENNIS GOE RING, PRESIDE T STATE OF TEXAS * * CORPORATE ACKNOWLEDGMENT COUNTY OF BRAZOS * This instrument was acknowledged before me on the C� day of . ..U\\.,,<< , 19c4, by DENNIS GOEHRING as President of the College Qtation Economic Development Foundation, a Texas non-pfofit Corporation, on behalf of said Corporation . \\ ._S \,:. \_ \• NOTARY PUBL IN AND FOR . THE STATE OF TEXAS • Printed Name : c \_�A\ ,•\— My Comm. Exp. : `1 • \;, .` ki.. ______PL/15_ Initialed for Identification vn! 1 WS'r 1ZI.q PERMITTED ENCUMBRANCES 1 . A utility easement reserved by and in behalf of the City of College Station which retained easement is de- scribed by legal description in the attached Exhibit "A" incorporated. herein . 2. A utility easement reserved by and in behalf of the ti City of College Station which retained easement is de- scribed by legal description in the attached Exhibit "B" incorporated herein. 3. A utility easement reserved by and in behalf of the City of College Station which retained easement is de- scribed by legal description in the attached Exhibit "C" incorporated herein . 4. A utility easement reserved by and in behalf of the City of College Station which retained easement is de- scribed by legal description in the attached Exhibit "D" incorporated herein. 5. An access easement reserved for recreational purposes and as a utility easement by and in behalf of the City of College Station in the property described in the easement from J. E. Marsh to Gulf States Utilities which was dated April 1, 1947, recorded in Volume 129, Page 152, of the Deed Records of Brazos County, Texas, subject to the condition that GRANTEE, its successors and assigns, may utilize said strip for construction of public streets and utilities, to the extent that GRANTOR may authorize the use; provided that access to the recreational park trial thereon shall not be impaired or provided that an accept- able alternate easement area is provided to GRANTOR. GRANTOR shall maintain the easement area as park land. 6. An access easement reserved for recreational purposes and as a utility easement by and in behalf of the City of College Station in the property described in the easement from C. Edgar Jones to Gulf States Utilities which was dated May 14, 1947, recorded in Volume 130, Page 152, of the Deed Records of Brazos County, Texas, subject to the condition that GRANTEE, its successors and assigns, may utilize said strip for construction of public streets and utilities, to the extent that GRANTOR may authorize the use; provided that access to the recreational park trial thereon shall not be impaired or provided that an accept- able alternate easement area is provided to GRANTOR. GRANTOR shall maintain the easement area as park land. 7. Right-of-way from Ed S. Wickes to Humble Pipe Line Company, dated July 7, 1919, recorded in Volume 48, page 614, Deed Records of Brazos County, Texas. 8. Easement from C. Edgar Jones to Humble Pipe Line Company, dated July 22, 1919, recorded in Volume 49, page 25, Deed Records of Brazos County, Texas. 9. Easement from J. E. Marsh, et ux of Gulf States Utilities, dated April 1, 1947, recorded in Volume 129, page 152. 10. Easement from C. Edgar Jones to Gulf States Utilities Company, dated May 14, 1947, recorded in Volume 130, page 152, Deed Records of Brazos County, Texas. 11. REA Easement from W. R. McCullough, Trustee, to the City of Bryan, dated June 8, 1938, recorded in Volume 98, page 83, Deed Records of Brazos County, Texas, covering a 343 . 16 acre tract of which the 59. 5 acre tract included in this conveyance is a part, and a 60 acre tract of which a 50 acre tract (part of 163 acres) and a 10 acre tract (part of 30.25 acres) included in this conveyance are a part. Exhibit A Page 1 VOL 10' ;8 PAGE 650 i 12 . Easement for water line retained in Deed from Holloway Sand & Gravel Company, Inc . , et al to Hollard L. Terry, et al , dated June 1, 1973, recorded in Volume 316, page 416, Deed Records of Brazos County, Texas. 13 . Right-of-way Agreement from Kenneth M. Morris, Trustee to Producer' s Gas Company, dated June 1, 1978, recorded in Volume 402 , page 89, Deed Records of Brazos County, Texas. 14. Easement from Kenneth M. Morris, Trustee to Clajon Gas Company, dated January 27, 1981, recorded in Volume 473, page 65, Deed Records of Brazos County, Texas. 15. 202/17616 nonparticipating interest in oil, gas and other minerals retained in 2000 acres in Deed from Ed S. Wickes, et al to J. E. Marsh, dated April 28, 1940, recor- ded in Volume 103, page 279, Deed Records of Brazos County, Texas. 16 . Undivided 4303/8808 nonparticipating royalty interest in 983.22 acres out of the Wickes tract retained in Deed from J. E. Marsh, et ux to Henry B. Clay, dated Novem- ber 30, 1967, recorded in Volume 266, page 238, Deed Rec- ords of Brazos County, Texas. 17. Undivided 1/32 royalty interest in all the oil, gas and other minerals produced from said lands and premises retained in 1067 acres, more or less, in Deed from Grace H. Marsh, Individually, and as Independent Executrix of the Estate of J. E. Marsh, deceased, to Michigan International Speedway, Inc . , dated March 19, 1969, recorded in Volume 277, page 84, Deed Records of Brazos County, Texas. 18. 1/16th royalty interest retained in Deed from the Federal Land Bank to H. R. Brayton and C. C. Hedges, dated November 2, 1934, recorded in Volume 87, page 534, Deed Records of Brazos County, Texas, on 173 acres, being 14 acres, 99 acres and 60 acres, all of these tracts being included in this conveyance . 19. Undivided 2/48th royalty interest retained in Deed f from C. C. Hedges and H. R. Brayton to J. H. Stockton, dated January 2, 1948, recorded in Volume 133, page 301, Deed Records of Brazos County, Texas. 20. Undivided 1/2 royalty interest retained in Deed from B. R. Dixon, et al to J. E. Marsh, dated April 6, 1948, recorded in Volume 134, page 551, Deed Records of Brazos County, Texas, in 83-3/4 acres, being the interest of B. R. Dixon, et al, in a 100 acre tract. 21 . Undivided 1/3 mineral interest retained in a Deed from L. D. Smith to S. L. Sluder, dated June 1, 1940, recorded in Volume 103, page 612, Deed Records of Brazos County, Texas, on 30 acres, and being a 20 acre tract and a 10 acre tract, later surveyed as a single 30 . 25 acre tract. 22. 1/2 Minerals reserved in Deed from C. Edgar Jones to Navasota Land and Cattle Company, dated October 12, 1961, recorded in Volume 215, page 227, Deed Records of Brazos County, Texas. 23 . Oil & Gas Lease from Kenneth M. Morris, Trustee, et al to R. L. Reese, dated February 13, 1978, recorded in Volume 31, page 529, O&GL Records of Brazos County, Texas. Exhibit A Page 2 VOL 1028 rasE.651 24. Oil & Gas Lease from Kenneth M. Morris, Trustee, to R. L. Reese, dated May 30, 1979, recorded in Volume 34, page 639, O&GL Records of Brazos County, Texas. i r 25. Oil & Gas Lease from Kenneth M. Morris, Trustee, to Riclaereldidelyi y, datedMay30, 1980, recordedinVolume36, pa1O&GL Records of Brazos County, Texas; as amedeendment to Oil & Gas Lease dated July 31 , 198 , nneth M. Morris, Trustee, to Richard S. Gady, oed in Volume 36, page 517, O&GL Records of Braosn , Texas.26 . Os Lease from Mrs. Willie Blanche Smith to R. L. d March 2, 1978, recorded in Volume 31, page 527, O&GL Records of Brazos County, Texas. 27. Oil & Gas Lease from Mrs. Eugenia W. Jones to George Hugo, Jr. , dated March 1, 1978, recorded in VolumeQ1 , page 524, O&GL Records of Brazos County, Texas. 28. All remaining oil , gas and other minerals reserved in Deed from Kenneth M. Morris, Trustee to Robert F. Spear- man, dated July 16, 1981 , recorded under County Clerk ' s File No. 203352, Deed Records of Brazos County, Texas. 29. All valid and subsisting easements, restrictions, rights-of-way, conditions, exceptions, reservations and convenants of whatsoever nature of record, if any, and also to the zoning laws and other restrictions, regula- tions, ordinances and statutes of municipal or other governmental authorities applicable to and enforceable against the described premises. Exhibit A f� Page 3 vo; �028 F� `'�652