Ordinance No. 10,354 ORDINANCE NO. 10,354
AN ORDINANCE OF THE CITY OF BAYTOWN, TEXAS. AUTHORIZING
AND DIRECTING THE MAYOR TO EXECUTE AND THE CITY CLERK TO
ATTEST TO AN INDUSTRIAL DISTRICT AGREEMENT WITH VANTAGE
DEVELOPMENT #40, INC.; AND PROVIDING FOR THE EFFECTIVE DATE
THEREOF.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN,
TEXAS:
Section 1: That the City Council of the City of Baytown, Texas, hereby authorizes
and directs the Mayor and City Clerk of the City of Baytown to execute and attest to an
Industrial District Agreement with Vantage Development #40, Inc. A copy of said Industrial
District Agreement is attached hereto, marked Exhibit "A" and incorporated herein for all intents
and purposes.
Section 2: This ordinance shall take effect immediately from and after its passage by
the City Council of the City of Baytown.
INTRODUCED, READ and PASSED by the affirmative, to of the City Council of the
City of Baytown this the 22nd day of June, 2006.
I ,
1
E N DONCARLOS, Mayor
TTE.
LORRI DA City Clerk
APPROVED AS TO FORM:
ACIO RAMIREZ, S City Attorney
R:1Karen\Fi1es\City Counci1\Ordinanccs0000Uune 22\Vantage1DAOrdinance.doc
Industrial District Agreement
This Industrial District Agreement ("Agreement") is made and entered into between the
City, of Baytown, Texas, a municipal corporation in Harris and Chambers Counties, Texas,
hereinafter also referred to as "Baytown" or "City," and Vantage Development #40, Inc., a
Texas corporation, hereinafter referred to as "Property Owner." In consideration of the promises
and of the mutual covenants and agreements herein contained, it is agreed by and between the
City and Property Owner as follows:
I.
Parties
This Agreement is made under the authority of Texas Local Government Code Annotated
§42.044 (Vernon 1993), article XI, §5 of the Texas Constitution and other applicable law. The
parties to the Agreement and their addresses are:
1. The "City"
City of Baytown
Attn: City Manager
P.O. Box 424
Baytown, TX 77522
Copy to:
City of Baytown
Attn: City Attorney
P.O. Box 424
Baytown, TX 77522
2. The "Property Owner" Tax Statement Address:
Vantage Development #40, Inc. Vantage Development #40, Inc.
Mr. Jim Black Mr. Bert Milam
Vice President Vice President
6650 W. Sam Houston Parkway N. #400 2911 Turtle Creek, Suite 500
Houston, TX 77041 Dallas, TX 75219
II.
Identification of Property and Industrial District
This Agreement includes provisions concerning certain real estate and tangible personal
property owned or leased by the Property Owner. Real estate located outside the corporate limits
of the City is sometimes referred to herein as the "affected area," and it is described in Exhibit A,
which is attached to this Agreement and made a part hereof. Acting pursuant to the above
mentioned authority, the City Council of the City has by ordinance, designated the affected area
as an industrial district, the same to be known as Baytown Industrial District No. 3 (the
"Industrial District").
EXHIBIT A
III.
Term
The term of this Agreement is seven years, from 2006,
through . 2012, unless it is sooner terminated under the provisions
hereof. This Agreement shall be effective and binding on the parties hereto upon execution
hereof on behalf of the parties to this Agreement.
IV.
Limited Immunity from Annexation by the City
In consideration of the obligations of the Property Owner herein set forth, the City hereby
guarantees for the term of this Agreement the immunity of the affected area from annexation of
any type by the City except for such parts of the affected area as may be necessary to annex
property owned by third parties within the Industrial District that the City may decide to annex.
Additionally, this Agreement shall not affect the continuation of any limited purpose annexation
status to which the affected area is now subject.
V.
Industrial District Payment
As part of the consideration for the City's undertakings as set forth above, the Property
Owner agrees to pay to the City on or before December 3 1" of each year during the term hereof a
sum of money equal to the Base Value Industrial District Payment plus the Added Value
Industrial District Payment. The sum of the Base Value Industrial District Payment plus the
Added Value Industrial District Payment shall be referred to as the Industrial District Payment.
A.
Base Value Industrial District Payment
The Base Value Industrial District Payment shall be calculated as follows:
(1) the fair market value as determined by the City, of all of the Property Owner's
land and all other tangible property, real, personal or mixed. within the affected
area:
%- on January 1, 2002, or
i as most recently certified by the chief appraiser of the appraisal district
and/or approved by the Industrial Appraisal Review Board established
and appointed by the City Council, as of the date of this Agreement,
whichever is greater, hereinafter referred to as the "Base Year," less the fair
market value in the Base Year as determined by the City of that portion of the
Property Owner's property, real, personal and mixed, which was located within
the industrial district on the effective date of this agreement and subsequently
annexed by the City. the difference of which is hereinafter referred to as the "Base
Year Value." multiplied by
(2) the property tax rate per S 100.00 of assessed valuation adopted by the City
Council for the City, multiplied by the applicable industrial district payment rate
as detailed below.
The applicable Base Value Industrial District Payment Rate shall be determined using the
applicable chart hereinbelow:
(1) if the Property Owner purchased Property from an owner having an industrial
district agreement with the City, which:
a. was entered into on or after July 27, 2002,
b. included all or any portion of the Property,
c. is in effect on the first day of the term hereof, and
d. is fully paid for the year prior to the first payment becoming due hereunder,
then the following chart shall be used and the rate shall be based upon the
payment year of the prior owner's industrial district agreement:
PAYMENT BASE VALUE
YEAR OF INDUSTRIAL
FORMER DISTRICT PAYMENT`
OWNER'S RATE
AGREEMENT
1 .50
2 .55
3 .55
4 .55
5 .60
6 .60
7 .60
The Base Value Industrial District Payment Rate shall be .60 for each year which
extends beyond the industrial district agreement of the previous owner.
(2) otherwise. the following chart shall be used:
BASE VALUE
PAYMENT INDUSTRIAL
YEAR DISTRICT PAYMENT
RATE
l .50
2 .55
3 .55
4 .55
5 .60
6 .60
7 .60
B.
Added Value Industrial District Pavment
The Added Value Industrial District Payment shall be calculated as follows:
(1) the fair market value as determined by the City, of all of the Property Owner's
land and all other tangible property. real, personal or mixed, within the affected
area on January 1 of each year in which an Industrial District Payment is due
hereunder minus the Base Year Value, hereinafter referred to as the "Added
Value," multiplied by
(2) the property tax rate per $100.00 of assessed valuation adopted by the City
Council for the City for each year of the terns of this Agreement, multiplied by the
applicable added value industrial district payment rate detailed below.
The applicable Added Value Industrial District Payment Rate shall be determined using
the following chart:
PAYMENT ADDED VALUE
YEAR INDUSTRIAL DISTRICT
PAYMENT RATE
1 0
2 0
3 0
4 0
5 .20
6 .40
7 .60
If the formula used in calculating the Added Value Industrial District Payment produces a
negative number. then the Added Value Industrial District Payment shall be 50.00.
VI.
Valuations
For the purpose of providing a procedure for deterniining and collecting the amounts
payable by the Property Owner hereunder, there are hereby adopted and made a part hereof all
provisions of the Constitution and statutes of the State of Texas pertaining to ad valorem taxation
as amended throughout the term of this Agreement (including, in particular, the Texas Property
Tax Code), except, however, that (1) to the extent that any of such provisions would require the
assessment of the Property Owner's property on an equal and uniform basis with property in the
general corporate limits of the City, the provisions of this Agreement will control where in
conflict with the provisions of such laws and (ii) the income method of appraisal as described in
Section 23.012 of the Texas Property Tax Code shall not be limited to only properties for which
a rental market exists. Specifically, nothing contained herein shall limit the income method of
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appraisal specified in Section 23.012 of the Texas Property Tax Code to only properties for
which a rental market exists, instead if such method is used, the chief appraiser shall:
1. use income and expense data pertaining to the property, if possible and applicable
2. make any projections of future income and expenses only from clear and
appropriate evidence:
3. use data from generally accepted sources in determining an appropriate
capitalization rate;
4. determine a capitalization rate for income-producing property that includes a
reasonable return on investment, taking into account the risk associated with the
investment.
A.
Valuation of Property Inside the Corporate Limits
The value of the Property Owner's property, real, personal and mixed, which was located
within the industrial district on the effective date of this agreement and subsequently annexed by
the City shall be finally determined by the City based upon historical values obtained by the City
in accordance with Article VI.B.
B.
Valuation of Property Outside the Corporate Limits
The parties hereto recognize that the Chambers County Appraisal District is not required
to appraise the land, improvements, and tangible property, real or mixed, in the affected area.
which is not within the corporate limits of the City, for the purpose of computing the payments
hereunder. Therefore, the parties agree that to determine the fair market value of all of the
Property Owner's land, improvements, and tangible property located outside the corporate limits
of the City in accordance with the market value computation contemplated in the Texas Property
Tax Code for the purpose of calculating the Property Owner's payment in the manner described
above, the City may choose to use the appraised value for each year in which an Industrial
District Payment is due hereunder, as finally determined by the Chambers County Appraisal
District (or through administrative or judicial appeal of the Chambers County Appraisal
District's determination), or by appraisal conducted by the City and/or by an independent
appraiser of the City's selection, and at the City's expense. Nothing contained herein shall ever
be construed as in derogation of the authority of an appraisal district to establish the appraised
value of land, improvements, and tangible personal property in the annexed portion for ad
valorem tax purposes.
C.
Bindine Effect
Determination of the Base Year Value and the Added Value shall be made by the City
and approved by the Industrial Appraisal Review Board. Such final fair market value as
approved by the Industrial Appraisal Review Board shall be final and binding unless either party
within thirty (30) days after receipt of the Board's determination petitions for a Declaratory
Judgment to the Civil District Court of Harris County, Texas, as provided for by Section X1II
hereof. In detennining the fair market value of property and improvements as used herein, the
Industrial District Appraisal Board shall base its determination on the fair market value as
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defined in Section VI herein, giving due consideration to comparable present day facilities
considering and giving effect to sound engineering valuation practices relative to service life, life
expectancy, process and functional obsolescence.
D.
Statements
The City shall mail one statement to the Property Owner on or about December 1 of each
year showing the total amount due on December 31 of such year pursuant to this Agreement.
Such statement shall be mailed to the "Tax Statement Address" noted in this Agreement. Any
amounts due on December 31 that are not paid when due shall become delinquent on January 1
of the following year. Provided, however, if the tax statement is mailed after December 10, the
delinquency date is postponed to the first day of the next month that will provide a period of at
least 21 days after the date of mailing for payment of the amount due. Delinquent amounts shall
be immediately subject to the same penalties, interest, attorneys' fees and costs of collection as
recoverable by the City in the case of delinquent ad valorem taxes. The City shall have a lien
upon the Property Owner's land within the affected area upon any delinquency in the Industrial
District Payment.
E.
Valuation Contests
If any differences concerning the appraised values shall not have been finally determined
by the due date of the Property Owner's payment hereunder and the Property Owner desires to
pursue any additional available remedies, the Property Owner shall, without prejudice to such
remedies, pay to the City by December 31 of each year (subject to the exception in the preceding
paragraph for statements mailed after December 10). such amount as is provided in the Texas
Property Tax Code, as amended throughout the term of this Agreement, for payments made
under such conditions by owners of property within the general corporate limits of the City
subject to ad valorem taxation. Any refund payable by the City to the Property Owner hereunder
shall be paid within 60 days after receipt by the City of both the appraisal district's form
notification that the appraised value of the property has been reduced and a written refund
request by the Property Owner; if not paid timely, the refund amount shall bear interest at eight
percent per annum beginning 60 days after the City received both the Property Owner's written
refund request and the appraisal district's formal notification that the appraised value of the
property has been reduced.
VH.
Compliance with Law
The City and the Property Owner mutually recognize that the health and welfare of
Baytown residents require adherence to high standards of quality in the air emissions, water
effluents and noise, vibration and toxic levels of those industries located in the Industrial District,
and that development within the District may have an impact on the drainage of surrounding
areas, To this end, the Property Owner and the City agree that the same standards and criteria
relative to noise, vibration and toxic levels and drainage and flood control which are adopted by
the City and made applicable to portions of the City adjacent to the Industrial District shall also
be applicable to the affected area. The Property Owner agrees that any industrial or other
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activity carried on within the affected area will be constructed in strict compliance with all
applicable valid state and federal air and water pollution control standards. If the Property
Owner's property within the affected area is subject to the Occupational Safety and Health Act,
29 U.S.C. 65, et seq., as amended, then the Property Owner shall undertake to ensure that its
facilities and improvements in the affected area comply with the applicable fire safety standards
of such act and the resolutions from time to time promulgated hereunder (the "OSHA
Standards"), but there shall be no obligation to obtain any permits of any kind from the City in
connection with the construction, operation or maintenance of improvements and facilities in the
affected area not located within the corporate limits of the City. Nonetheless, for construction
which commences after the execution of this Agreement, the Property Owner agrees that any
structure built within the affected area shall be built in accordance with the building code
adopted by the City in effect at the time of construction.
The City and the Property Owner recognize that activities in the City's industrial districts
are subject to regulation by other governmental entities, including the state and federal
governments and their various departments and agencies. The City and the Property Owner also
recognize that the City may have an interest in activities in the City's industrial districts that are
regulated by other governmental entities. Nothing in this Agreement is intended to limit the
City's right and authority to communicate its interest in, or opposition to, those activities to the
applicable regulatory agencies or to participate, to the extent allowed by law, in any related
administrative or judicial proceeding.
VIII.
Inspections
The Chief Appraiser of the Chambers County Appraisal District and the City or its
independent appraiser shall have the same right to enter and inspect the Property Owner's
premises and the same right to examine the Property Owner's books and records to determine the
value of the Property Owner's properties as provided in the Texas Property Tax Code as
amended.
IX.
Default
A.
Default by Property Owner
In the event of default by the Property Owner in the performance of any of the terms of
this Agreement. including the obligation to make the payments above provided for. the City shall
have the option, if such default is not frilly corrected within sixty (60) days from the giving of
written notice of such default to the Property Owner to either (i) declare this Agreement
terminated or (ii) continue the term of this Agreement and collect the payments required
hereunder. Notwithstanding any to the contrary contained herein, should the City determine the
Property Owner is in default according to the terms and conditions of Section VII hereof. the
City shall notify the Property Owner in writing by U.S. Mail, certified return receipt requested, at
the address stated in this Agreement, and if such default is not cured within sixty (60) days from
the date of such notice (the "Cure Period") then such failure to cure shall constitute a material
breach of this Agreement; provided that, in the case of a default under Section VII for causes
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beyond the Property Owner's control that cannot with due diligence be cured within such sixty
(60) day period or in the event that the failure to cure results from ongoing negotiations with
federal or state officials, administrative proceedings or litigation regarding the necessary cure
steps, then the cure period shall be extended until such negotiations, administrative proceedings
or litigation are concluded.
B.
Default by City
In the event of default by the City, the Property Owner may, if such default is not fully
corrected within 60 days from giving written notice of such default to the City, terminate this
Agreement. Upon such termination, both the Property Owner and the City shall be relived of all
further obligations hereunder, but the Property Owner shall not be relieved of the obligation to
pay any amounts that accrued prior to such termination. In the event of termination, the City
shall have the right to repeal the ordinance designated the affected area as an industrial district.
Provided, however, if the termination occurs as a result of the City's exercising its option to
terminate (as provided in the first sentence of this Section IX), the City shall not have the right to
annex the affected area into the general corporate limits of the City so as to subject the affected
area to ad valorem taxes for any part of the period covered by the Property Owner's last payment
hereunder.
X.
Notice
Any notice to the Property Owner or the City concerning the matters to which the
Agreement relates may be given in writing by registered or certified mail addressed to the
Property Owner or the City at the appropriate respective addresses set forth on the cover page of
this Agreement. Any such notice in writing may be given in any other manner. If given by
registered or certified mail, the notice shall be effective when mailed. With the exception of
annual bills for payments due herein, notice given in any other manner shall be effective when
received by the Property Owner or the City, as the case may be.
XI.
No Further Expansion of Taxing Jurisdiction
Nothing herein contained shall be construed to change or enlarge the jurisdiction, power
or authority of the City over or xvith respect to the affected area as prescribed by applicable law,
except as specifically provided in this Agreement. The Property Owner shall not be obligated by
virtue of this Agreement. or the establishment of the industrial district covering the affected area
not within the corporate limits of the City, to make any payments to the City in the nature of a
tax or assessment based upon the value of the Property Owner's property in the affected area
during the term of this Agreement other than the payments specified herein. Specifically, the
Property Owner shall not be liable for any City taxes within the affected area, including, without
limitation. City ad valorem taxes on taxable property within the affected area.
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XII.
Reimbursement for Services
If the Property Owner requests and receives mutual aid firefighting assistance and is a
member of Channel Industries Mutual Aid organization ("CIMA") or similar organization, the
Property Owner shall reimburse the City for costs incurred by the City in providing fire
protection services to the Property Owner as shall be provided in the charter, bylaws and
agreements pursuant to which CIMA or such similar organization is organized and operates. If
the Property Owner requests and receives mutual aid firefighting assistance and is not a member
of C1MA or a similar organization, then the Property Owner shall be required to reimburse the
City for costs actually expended by the City in providing any firefighting assistance to the
Property Owner, including chemical and personnel costs.
XII1.
Declaratory Judgment Action
If any disagreement arises between the parties concerning the interpretation of this
Agreement, it is agreed that either of the said parties may petition any Civil District Court of
Harris County. Texas, for a Declaratory Judgment determining said controversy and the cause
shall be tried as other civil causes. If the controversy affects an Industrial District Payment, the
Property Owner shall, pending final determination of said controversy, pay to the City on the due
date the same amount which was paid to the City for the last preceding period as to which there
was no controversy concerning the amount owed by the Property Owner to the City. The
Property Owner agrees to tender any additional amount of disputed Industrial District Payment
into the registry of the Civil District Court, Harris County, Texas, pending final determination of
the controversy beyond any further appeal.
XIV.
No Assignmen
This Agreement shall not bestow any rights upon any third party, but rather, shall bind
and benefit the Property Owner and the City only. If the Property Owner conveys all or any part
of the property then covered hereby, the Property Owner shall notify the City within 30 days of
the conveyance.
If such notice is given and the grantee in such transaction enters into an Industrial
District Agreement with the City with respect to the property involved, the
Property Owner shall cease to be obligated with respect to the property so
conveyed and the Base Year Value plus the Added Value shall be apportioned
between the Property Owner and the grantee based upon the property conveyed.
If such notice is given and the grantee in such transaction is the State of Texas
(the "State"), the Property Owner shall remain obligated for the Base Year Value
plus the Added Value. including the leasehold estate and personalty retained by
the Property Owner.
No right or obligation under this agreement may be sold, assigned or transferred.
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XV.
Authority
The Property Owner covenants that it has the authority to enter into this agreement by
virtue of being either the legal or equitable owner of a possessory estate (including a leasehold
estate) in the land comprising the affected area. Additionally, the officers executing this
Agreement on behalf of the parties hereby represent that such officers have full authority to
execute this Agreement and to bind the party he represents.
XVI.
No Municipal Services
It is agreed that during the tern of this Agreement, the City is under no obligation to
provide any governmental, proprietary or other municipal services to the affected area.
Specifically, but without limitation, it is agreed that the City shall not be required to furnish (1)
sewer or water service, (2) police protection, (3) fire protection (4) road or street repairs, and (5)
garbage pickup service.
XVII.
Severability
If any provision of this Agreement, or any covenant, obligation or agreement contained
herein, including, without limitation, that term hereof, is determined by a court to be invalidated
or unenforceable, such provision, covenant, obligation or agreement shall be reformed so as to
comply with applicable law. If it is not possible to so reform such provision, covenant obligation
or agreement, such determination shall not affect any other provision, covenant, obligation or
agreement, each of which shall be construed and enforced as if the invalid or unenforceable
portion were not contained herein. Provided. further that such invalidity or unenforceability
shall not affect any valid and enforceable provision thereof, and each such provision. covenant,
obligation or agreement shall be deemed to be effective, operative. made, entered into or taken in
the manner and to the full extent permitted by law. Notwithstanding the above, if the application
of this Section XVII requires the reformation or revision of any term that removes or materially
diminishes the obligation of the Property Owner to make the payments to the City described
herein (except in the event of a reformation that shortens the term of this Agreement), the City
shall have the option to declare this Agreement terminated.
XVIII.
Complete Agreement
This Agreement contains all the agreements of the parties relating to the subject matter
hereof and is the full and final expression of the agreement between the parties.
M.
Non-waiver
Failure of either party hereto to insist on the strict performance of any of the agreements
herein or to exercise any rights or remedies accruing thereunder upon default or failure of
performance shall not be considered a waiver of the right to insist on and to enforce by an
10
appropriate remedy, strict compliance with any other obligation hereunder to exercise any right
or remedy occurring as a result of any future default or failure of performance.
XX.
Ambiguities
In the event of any ambiguity in any of the terms of this Agreement, it shall not be
construed for or against any party hereto on the basis that such party did or did not author the
same.
XXI.
Headings
The headings appearing at the first of each numbered section in this Agreement are
inserted and included solely for convenience and shall never be considered or given any effect in
construing this Agreement or any provision hereof, or in connection with the duties, obligations
or liabilities of the respective parties hereto or in ascertaining intent, if any question of intent
should arise.
XXII.
Choice of Law; Venue
This Agreement shall in all respects be interpreted and construed in accordance with and
governed by the laws of the State of Texas and the City, regardless of the place of its execution
or performance. The place of making and the place of performance of this Agreement for all
purposes shall be Harris County, Texas.
X_XIII.
Agreement Read
The parties acknowledge that they have read, understand and intend to be bound by the
terms and conditions of this Agreement.
IN WITNESS WHEREOF, this Agreement is executed in multiple counterparts on behalf
of the Property Owner this �S day of 2006, and on behalf of the City
this day of , 2006.
VANTAGE DEVELOPMENT #40, INC.
By
Printed Name
Title
11
ATTEST:
L,U1
Secretary
CITY OF BAYTOWN
STEPHEN H. DONCARLOS, Mayor
ATTEST:
LORRI COODY, City Clerk
APPROVED AS TO FORM:
IGNACIO RAMIREZ, SR., City Attorney
r
Rff
ONDA YOUNG,I irector dFinance
RAJeanene\N1y Documents\ContracisMDA\VantageDevelopmentNewIDA2006.doc
I2
PROPERTY DESCR/PT/ON
Being a tract or parcel containing 7..360 acres (320,59J square feet) of land situated in
the Johr, Steele Survey, Abstract Number 227, Chambers County, Texas, being all of Lots
28, 29 and JO of Cedar Crossing Business Park, as recorded in Volume B, Page 105 and
amended in Volume A, Pogo 120 of the Chambers County Map Records (C_C.M.R.), and
being the same Lots 28 and 29 as conveyed to C.I.M. Industries, Inc. by deed recorded in
Volume 472, Page 188 Chambers County Deed Records (C.C.D.R.) and some Lot JO as
conveyed to C.LM. Industries, Inc. by deed recorded in Volume 478, Pogo 799, C.C.D.R
Said 7.J60 acre tract being more perticu/dry described as follows (bearings are oriented
to the bearing base reflected in the record plat of said Cedar Crossing Business Park):
BEGINNING at a crass in concrete found in the norther/, line of USX Railroad Reservation
(80 foot wide), as recorded in Volume 456, Page 507 and Volume 456, Page J57,
C.C.D.R., marking the southeasterly corner of Lot J1 of said Cedar Crossing Business Park
and marking the southwesterly corner of said Lot 30 and the herein described tract;
THENCE, North, along the common line of said Lots JO and 31, a distance of J08.26 feet
to o cross in concrete set in curved souther/y right-at--way (R.O.W.) line of Cedar
Boulevard (70 feet wide), as delineated in said Cedar Crossing Business Pork, said cross
marking the northeasterly comer of said Lot J1 and the northwesterly corner of said Lot
JO and the herein described tract,-
THF_NC£, in an easterly direction along the southerly R.O.W. line of said Cedar Boulevard
on arc length of 140.8J feet along a non-tangent curve to the left having a radius of
5764.58 feet, a central angle of 012359' and a chord which bears North 86'19 09" East,
140.8.3 feet to a point of tangency, from which a found 112" iron rod boors South
,36,44' West, 0.40 feet.
THENCE, North 8,5J1 7' East, along the southerly R.O.W. line of said Cedar 6oulevord, at
a distance of 175.01 feet pass the northerly common corner of said Lots 3O and 29,
from which a found 1/2- iron rod bears South 0474' West, 0.25 feet, continuing, at a
distance of 486.32 feet pass a 1/2" iron rod found marking the norther/y common corner
of said Lots 29 and 28, and continuing, in a//,, a distonce of 796.26 feet to a 1/2" iron
rod found marking the northwesterly comer of Lot 27 of said Cedar Crossing Business
Park and marking the northeasterly corner of said Lot 28 and the herein described tract;
THENCE, South, along the common line of said Lots 27 and 28, a distance of J79.53 feet
a 1/2" iron rod found in the northerly line of said USX Roi/rood Reservation, marking the
southwesterly corner of said Lot 27 and Me southeaster/y corner of said Lot 28 and the
herein described tract.
THENCE West, along the northerly /ine of said USX Railroad Reservation, at a distance of
309.00 feet poss the southerly common corner of Lots 28 and 29, from which a found
112' iron rod bears South 10'49' West, 0.71 feet, continuing, at a distance of 619.J6
feet pass the souther/y common corner o/ Lots 2.9 and 30 from which a found 112" iron
rod bears South 0.3'02' East, tJ 68 feet and continuing, in a//, a distance of 934.36 feet
to the POINT OF BEGINNING and containing 7..360 acres (320,59J square feet) of land
EXEiW A