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Ordinance No. 14,910ORDINANCE NO. 14,910 AN ORDINANCE OF THE CITY COUNCIL 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 PLASTIC EXPRESS; 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 Plastic Express. 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 affinnative vote of the City Council of the City of Baytown, this the 141h day of October, 2021. DON C PETILLO, Mayor ATTEST: ANGELA TACKSON, City Cl k,� o• tr 9AF o f �F-i- APPROVED AS TO FORM: KAREN L. HORNER, City Attorney R:\Karen Homer\DocumentsTiles\City Council\Ordinances\2021\October 14ADAwithPlasticExpress.docx Exhibit "A" Industrial District Agreement This Industrial District agreement ("agreement") is made and entered into between the Cite of Baytown, Texas. a municipal corporation in Harris and Chambers Counties. Texas. hereinafter also referred to as "Baytown" or "Cite," and Plastic Express. a Nevada corporation hereinafter referred to as "Property Owner." In consideration of the promises and of the mutual covenants and aureements herein contained, it is agreed by and betk een the City and Property ONvner as follows: Parties This agreement is made under the authority of Texas Local Government Code annotated §42.044 (Vernon 1993). article X1, `5 of the Texas Constitution and other applicable law The parties to the .-Nureement and their addresses are The "Ci tv" C i tN of Bayto%� n Attn City klanauer P O Box 424 Bavto«n. J'\ 77�;-' Cope to CitN, of Baytm n Attn: Cite Attornev P O. Box 424 Bavtown. T1 77;'2 The "Property Owner" Tax Statement Address Plastic Express Plastic Express Attn. President Attn Tax Office `01 Pasadena Freewav, Suite 100 ! ';4-50 Salt Lake Ave Pasadena. TX 7750-1 Cite of Industry, C.A 91745 it Identification of Property and industrial District This Agreement includes provisions concerning certain real estate and tangible personal property owned or leased by the Property Okvner Real estate located outside the corporate limits of the Cite is sometimes referred to herein as the "affected area_" and it is described in Exhibit N. 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"), III Term The term of this Agreement is seven tax years, from 2021 through 2027. 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 and shall remain in effect for seven years. This Agreement supersedes any prior existing agreements between the Property Owner and the City relating to the subject matter specific to the term hereof. 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 property 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 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 31` 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 agreed to and stipulated by the parties to be as follows for each yearindicated: 2021 $82,000,000 2022 $82,000,000 2023 $81000,000 2024 $82,000,000 Year Base Value 'Ilf vjf hereinafter referred to as the 'Base Value," multiplied by (2) the property tax rate per $100.00 of assessed valuation adopted by the City Council for the City, multiplied by the applicable Yearly Payment Rate as detailed below TAX YEAR YEARLY PAYMENT RATE 2021 .66 2022 .66 2023 .66 2024 66 2025 66 2026 66 2027 66 plus (3) the value of the situs inventors, which is the personal property and inventory stored or held on or within the affected property which is not owned by the Property Owner, as assessed each year by the Chambers County Appraisal District, multiplied by (4) the propertv tax rate per $100.00 of assessed valuation adopted by the City Council for the City, multiplied by 0.50, and multiplied by the applicable Yearly Payment Rate as detailed below TAX YEAR YEARLY PAYMENT RATE 2021 .66 2022 .66 2023 66 2024 66 2025 .66 2026 .66 2027 66 On or before February I" of each contract year during the term of this Aureement, the Property Owner shall file separate xmtten inforniation reports with the City's Director of Finance stating the name and address of each person to k% hom the Property O« ner leased or otherv.-ise provided storage space on (1) .lanuary 1 �' of the current contract year and (2) September I ;` of the precedi ns-, rear Additionalk. if the Property Owner on or before JuIV I" of each year certifies under oath that the Property O,.vner has required the owner of the situs property to make the payment to the Cite for that portion of the Base Value Industrial District Payment calculated pursuant to subsections (3 ) and (4) of this Subsection A. the City shall invoice such owner for that amount However, nothins-I herein shall be construed so as to relieve the Property Owner from making the full Industrial District Payment on or before December 31` of each year should the owner of the sittts property fail to timer pay that portion of the Base \'aloe Industrial District Payment calculated pursuant to subsections ( 3) and (4) of this Subsection A B .-kdded Value Industrial District Payment The added \'aloe Industrial District Payment sha11 he calculated a1 fo llcros t 1) the fair- market \ aloe as determined b\ the Cite, of all ofthe Property O��ner's land and all other tangible property, real, personal or mired, «ithin the affected area on January 1 of each year in ��hich an Industrial District Payment is due hereunder minus the Base Year Value, hereinafter referred to as the "Added Value." multiplied by t? } the property tax rate per S 100 00 of assessed valuation adopted by the Cite Council for the Cite for each year of tile terns of this .-\y_Treement. multiplied by the applicable added value industrial district payment rate detailed belo�\ The applicable Added Value Industrial District Payment Rate shall be determined us1110 the following, chart. W ADDED VALUE TAX YEAR INDUSTRIAL WSTRICT PAYMENT RATE 2021 .00 2022 .00 -, 02 ?0,'4 3 4 ADDED VALUE INDUSTRIAL TAX YEAR DISTRICT PAYMENT RATE 0_2 � 4 5 ?026 ;5 2027 .66 If the formula used in calculating the added Value Industrial District Payment produces a neC7ative number. then the added Value Industrial District Pati ment shall be SO 0() V1. Valuations and Collections General]% The parties hereto recognize that said Chambers County appraisal District is not required to appraise for the City the land. improvements. and tangible property. real or mixed. in the affected area, which is not mthin the corporate limits of the Cite, for the purpose of computing the payments hereunder For the purpose of providing a procedure for determining and collecting the amounts payable by the Propert\ 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 ('ade). except. ho�\ever. 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 Cite. the provisions of this .�\ureement xiill control xvilere in conflict with the provisions of such laws and (ii ) the income method of appraisal as described in Section ' - 012 of the Texas Property Taff Code shall not be limited to onl\, properties for k%hich it rental market exists Specifically. nothing contained herein shall limit the income method of appraisal specified in Section 23 012 of the Texas Property Tax Code to only properties for %,.hich a rental market exists. instead if such method is used. the chief appraiser shall l use income and expense data pertaining to the property, if possible and applicable, make any projections of future income and expenses only from clear- and appropriate evidence, - use data from generally accepted sources in determinim! an appropriate capitalization rate. and 4 determine a capitalization rate for income -producing, propert.\ that includes a reasonable return on in-\estment. taking, into account the risk associated with the investment. The parties agree that the fair market value of the Property Owner's land, improvements. and tangible property subject to Subsections B and C of this section shall be determined in accordance with the market value computation contemplated in the Texas Property Tax Code for the purpose of calculating the Property O�iner's payment under this agreement on properties annexed or disannexed subsequent to the commencement of this agreement. The City- may choose to use the appraised value as finally determined by the Chambers County appraisal District (or through administrate%e or judicial appeal of the Chambers County appraisal District's determination ). or by appraisal conducted by an independent appraiser of the Citv's selection at the City's expense The determination of fair market values by the Cite shall be final and bindinU unless the Property Owner within thirty 00) dais after receipt of the City's determination petitions for a Declaratory Juduyrnent to the Civil District Court of Harris County. Texas, as provided for by Section X111 hereof Nothini contained herein shall ever be construed as in derog-ation of the authority of the Chambers County appraisal District to establish the appraised value of land. improvements. and tangible personal property in the annexed portion for ad - alorern tax purposes B adiustment of Base Value for Property Inside the Corporate Limits but Subsequently Disannexed Land. improxements and tang1hle property. real or mixed. of the Property Ox�ner. MlIch is disannexed from the corporate limits of the Cite durin-j the terns of this .-\*gJreement. shall become part of the affected area irnrnediatel\ upon di sari ne\atioil The value for such disannexed land, impro\ements and tangible property, real or rimed shall be deternined as described in Subsection .<N of this Section based upon the year in which the property is disannexed and shall he added to the Base Value specified in Al-ticle V each \,ear after the disannexation for purposes of payment hereunder C -adjustment of Base Value for Property Outside the Corporate Limits but SubseciErently annexed Land. improvements and tangible property, real or mixed, of the Property M-ner. %%hich is annexed into the corporate limits of the City durin�t the term of this aujreement. shall be removed from the affected area the year after the anne\ation The value for such annexed land, improvements and tangible property, real or mixed shall be determined as described ir1 Subsection a of this Section based upon the year in \�hich the propert\ is annexed and shall he subtracted from the Base Value specified in :article V each year after the annexation for purposes of payment hereunder D Statements The City shall mail one statement to the Property 0�tner on or about December 1 of each Fear showini-Y the total amount due on December 31 of sEich year pursuant to this aureerTlent Such statement shall be mailed to the "Tax Statement address" noted in this a,Treement, any amounts due on December 31 that are not paid then due shall become delinquent or1 JanuaryI of the follo�yinu year. Provided, hov e%er. if the tax statement is mailed after December 10. the delinquency date is postponed to the first day of the next month that wlII provide a period of at least ? 1 days after the date o1 mailing for payment of the amount due Delinquent amounts shall be immediately subiect to the same penalties. interest. attorneys' fees and costs of 0 collection as recoverable by the City in the case of delinquent ad valorem taxes The City shall have a lien upon the Proper y Owner's land within the affected area upon any delinquency in the Industrial District Pavment E Valuation Contests If any differences concerning the appraised values shall not have been finally- determined by, the due date of the Property 0« ner's payment hereunder and the Property Owner is pursuing, such determination through a declaratory judgment action as specified in Subsection A. the Property Owner shall. Without prejudice to such action. pay to the Cite 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 Tay Code. as amended throughout the term of this Agreement. for payments made under such conditions by o%\ners of property within the general corporate limits of the City subject to ad valorem taxation A n v refund payable by the Cite to the Property 0x%ner hereunder shall be paid within 60 days after receipt by; the City of both Chambers Couniv .-appraisal District's form notification that the appraised % al ue of the property has been reduced and a %� rl tten refund request by the Property Owner: if not paid timely. the refund amount shall bear interest at the rate specified in Section 2251 025 of the Texas Government Code beginning ()() days after the Cite received both the Property 0\%ner's written refund request and the Chamber; County Appralsal District's formal notification that the appraised value of the property h&, been reduced VIf Compliance with Laxk The City and the Property 0«ner mutually recognize that the health and ��elfare 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 Mner agrees that any industrial or other acti%-itN carried on %ithin the affected area ��Ill be constructed in strict compliance with all applicable \alid 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. -)9 t S C 65. et seq., as amended. then the Propem, 0�tner shall undertake to ensure that its facilities and Improvements ,n the affected area comply �\ ith 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 oblWation to obtain any permits of any kind from the Clty in connection with the construction, operation or maintenance of improvements and facilities in the affected area not located ��Ithln the corporate limits of the City Nonetheless, the Property Owner agrees that any strlucture built within the affected area shall he 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 Cite and the Property Owner also recunize that the City may have an interest in activities in the Citv's industrial districts that are regulated by other governmental entities \othin1S in this Agreement is intended to limit the C'ity's right and authority to communicate its interest in, or opposition to, those activities to the applicable re�,ulator_y' agjencies or to participate, to the extent allo,.%ed b�- la%v, in anv related administram e or judicial proceeding. N'III 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 O�ner's premises and the same right to examine the Property Owner's books and records to determine the value of the Property M) ner's properties as are provided in the Texas Property Tax Code as amended IN Default A Default by Property Owner In the e%ent of detault by the Property O�%ner in the performance of'anv of the terms of this agreement. including, the obligation to make the payments above provided For. the City shall have the option, it such default is not tulle corrected «ithirn sixty (60) days from the ,Tivinsr, of %%ritten 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. \otwithstatic] in anything to the contrary contained herein, should the City determine the Property Owner is in default accordinuto the terms and conditions of Section y'II hereof, the Cite shall notify the Property 0%\ner in writing by i_* S. Mail. certified return receipt requested, at the address stated in this Agreement. and if such default is not cured within sixty (00) days from the date of such notice (the "Cure Period") then such failure to cure shall constitute a matenal breach of this agreement, provided that. in the case of a default under Section VII for causes beyond the Property Owner's control that cannot with due diligence be cured % ithin such sixth- (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 b\ CM In the event of default by the Cite. the Property Owner may, if such default is not fully corrected within 60 days from gig invi written notice of such default to the City, terminate this agreement Upon such termination, both the Property O��ner and the Cm shall be relieved of all fitrther obligations hereunder, but the Property Owner shall not be relieved of the obligation to pay 8 any amounts that accrued prior to such termination In the event of termination. the City- shall have the right to repeal the ordinance designating the affected area as an industrial district Provided. however, if the ternllrlation occurs as a result of the City's e\ercising, its option to terminate (as provided in the first sentence of this Section Il), the Cite shall not have the right to annex the affected area into the general corporate linlits of the City so as to suhject the affected area to ad xalorem taxes for any part of the period covered by the Propert\ O��ner's last payment hereunder X Notice .ant- notice to the Property O«ner or the Cite concerning the matters to which the ureenlent relates nlay be `liven in \\riting by registered or certified mail addressed to the Property Owner or the City at the appropriate respectl%e addresses set forth on the cover page of this agreement. Anv such notice in �t-riting may be btu' en in any other manner if given by re_ristered or certified mail, the notice shall be effective when mailed With the exception of annual bills for payments due herein. notice gliven in any ether planner shall he effecm e Mien received by the Property O« ner- or the Cite. as the case may he Xl No Further Expansion of Taxing Jurisdiction 'nothing herein contained shall be construed to change or enlarge the jurisdiction. po�\er or authorit`' of the Cite over or ith respect to the affected area as prescribed b\ applicable la%\ except as speciticall` provided in this Agreement The Property Ot�ner shall not he oblivated b\ irtue of this .agreement, or the establishment of the industrial district co\ erin<1 the affected area not mthirl the corporate limits of the City. to make any pad meats to the Cite in the nature of tax or assessment based upon the value of the Property- Owner's property in the affected area during the term of this At-ireement other- than the payments specified herein. Specifically, the Property 0,, ner shall not be liable for any CM, taxes within the affected area, lncllrdlnu, \� itllotlt limitation. City ad \ alorern taxes on taxable propem within the affected area. ill Reimbursement for Services If the Property 0-wrier requests and reeeiVes mutual aid firefightln', assistance and is a member of Channel Industries N-lutual :did organization (TINIA") or similar organization, the Property 0\�ner shall reimburse the Cite for costs incurred by the City in providing fire protection ser, ices to the Property Owner as shall be provided in the charter. byla�%s and agreentents pursuant to which LIMA or such similar ory_►anization is or<uanized and operates If the Propertti Ov ner requests and receives mutual aid tiretiuhting assistance and is not a member or a similar organization. then the Property Owner shall be required to reimburse the Cit\ for costs actual!~ expended by the City in providing any firefightinu assistance to the Property Ok�ner. including chemical and personnel costs v l} XIII Declarator- Judument action It and disagreement arises bemeen the parties concerninsi the interpretation or this AYreement, it is agreed that either of the said parties may petition any Civil District Court of Harris County, Texas, for a Declarator-v Judument 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 Cite on the due date the same amount which \vas paid to the Cite for the last preceding] period as to which there was no controversy concerning, the amount o%tied b\ the Property 0%\ner to the Cite The Property Owner aurees to tender ariv additional amount of potential liability to the registrl of the Civil District Court. Harris Count\-, Texas. pending final determination of the controv ersv beyond any further appeal _assignment This Aulreement shall not besto\� any rii-Jllts upon an\- third party. but rather. shall bind and benefit the Properiy Owner and the Cite only y If the Property Owner conveys all or ant part of the propert\' then covered hereby. the Property Owner- shall notif\ the Cite within 10 days of the conveyance and shall thereafter cease to be obligated «ith respect to the property so conveyed and the Base Year Value plus the added Value shall be apportioned between the Property Owner and the urantee based upon the property con\ eyed. only it the grantee thereof enters into an industrial District Ai-Ireement xkith the Cite kkith respect to such property so conveyed No right or obligation under this Agreement may be sold. assigned or- transferred XV :luthoritV The Property Owner covenants that it has the atltliror-rtv to enter into this Ag-reement by virtue of beinu either the legal or equitable o�%ner of a possessor- estate (includinv, a leasehold estate) in the land comprising the affected area, Mitch %\ill not terminate before the expiration date of this agreement :additionally. the officers e\ecLltiIh, this Agreement on behalf of the parties hereby represent that such officers have full authority to execute this aureement and to bind the part he represents XVI \o `lunicipal Ser\ ices It is agreed that during, the term of this A,reement. the Cite is under- no obligation to Provide anv go%ernmental, proprietary or other municipal ser\ ices to the affected area Specifically, but limitation, it is agreed that the Cite shall not be required to furnish ( 1 } se%\er or eater service, (?) police protection. (-3) fire protection (4) road or street repairs. and (5) garbage pickup Set -Vice XVII. Severabilitv If any provision of this Aureement_ or any co%enant, obligation or agreement contained herein. includin`j, without limitation, that term hereof. is detemlined by a court to be invalidated or unenforceable, such provision. co% errant, 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. oblwation or agreement, each of «-hich shall be constrt.red and enforced as if the invalid or unenforceable portion were not contained herein Provided. further that such invalidity or Linen forceabilitt shall not affect any valid and enforceable pro\ ision thereof. and each such provision, covenant. obligation or aureement shall be deemed to be effective, operative, made. entered into or taken in the manner - and to the full extent permitted by la« Note%ithstanding the above. if the application of this Section XVII requires reformation or revision of any term that removes or materialiy diminishes the obligation of the Property 0« ner to make the payments to the City described her (except in the event ofa reformation that shortens the term of this Agreement). the Cite shall have the option to declare this Agreement terminated .XVIII Complete Agreement This Agreernent contains all the agreements cif' the parties relating= to the subject matter hereof and I, -,the Full and Final expression oi'the aLreement bemeen the parties X l .X' lion-walVer 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 bN- an appropriate remedy. strict compliance with any other obligation hereunder to exercise anv night or remedy occurrin`T as a result of any t'utur-e default or failure of' performance XX. Arnbivuities In the event of any ambiguity in an of the terms of this .agreement, it shall not be construed for or against any pam, hereto on the basis that such party did or did not author the same XXI Headinus The headings appearinu 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 XMI. Choice of Lakz _ Venue This A«reement shall in all respects be interpreted and construed in accordance with and governed by the laves of the State of Texas and the Cite. re-jardless of the place of its execution or performance. The place of making_ and the place of performance for all purposes shall be Baytown, Harris County, Texas. XXIII. .kureement Read The parties acknowledge that they have read, understand and intend to be bound by the terms and conditions of this Airreement IN WITNESS WHEREOF, this Aureement is executed in multiple counterparts on behalf of the Property Owner this 150l day of October. 2022 1. and on behalf of the Cite this _ day of October, 2021 PLASTIC EXPRESS I3� . Printed Name -�� . /x{, Title CAA )�� 00 STATE OF ��' � COUNTY OF i, , t C�C� Before me, r�'r �e undersign n ry �l' t - ed ota puI u c- on this day personally appeared r III_ the of Plastic Express. the owner oft e aiTeC`Ieetl propem., kno�.v n to me to be the person whose narne is subscribed to the forevsoin instrument and acknowledged the purposes, in the capacity. and for the consideration therein expressed SUBSCRIBED .AND SWORN before me thi _dad of October. ?0? 1 -� `�ER�fv ll.A ji•�,'1y C{ E.,,, L .ti j i JCtnbi c Sate o` texas , . = Cornrn Expires oE-08-2022 Nota ub i in a for e S ate of "��� Notary iQ 131598403 �f" 12 CITY OF BAYTOWN BRANDON CAPETILLO, Mayor ATTEST: ANGELA JACKSON, City Clerk APPROVED AS TO FORM: KAREN L. HORNER, City Attorney VICTOR BROWNLEES, Finance Director R. Karen Homer Documents Files Contracts Industrial District Agreements Pla,:tit Lxpress Plastic Express IDA 20-71.dnrx 13 Exhibit A METES AND BOUNDS DESCRIPTION OF 45.7558 ACRES OF LAND OUT OF THE JOHN STEELE SURVEY, ABSTRACT NO. 227 CHAMBERS COUNTY, TEXAS BEING A 45.7558 ACRE TRACT OF LAND LOCATED IN THE JOHN STEELE SURVEY, ABSTRACT NO. 227, CHAMBERS COUNTY, TEXAS, BEING A PORTION OF THAT 6555 ACRE (BY DEED) TRACT OF LAND DESCRIBED AS CONVEYED UNTO TGS CEDAR PORT PARTNERS, L.P. BY DEED RECORDED IN VOLUME 1535, PAGE 85, OF THE OFFICIAL PUBLIC RECORDS OF CHAMBERS COUNTY, SAID 45.7558 ACRE TRACT BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS: COMMENCING AT A 5/8 INCH IRON ROD FOUND WITH CAP STAMPED AT THE NORTHEAST CORNER OF THE 41.271 ACRE (BY DEED) TRACT OF LAND CONVEYED UNTO BCIF CEDAR PORT LOGISTICS CENTER LLC BY DEED RECORDED UNDER CLERK'S FILE NO. 2019-147239, OF THE OFFICIAL PUBLIC RECORDS OF CHAMBERS COUNTY, TEXAS AND THE NORTHWEST CORNER OF THE 8.255 ACRE FUTURE NITA WAY, SAID ROD LOCATED IN THE SOUTH RIGHT-OF•WAY LINE OF THE GRAND PARKWAY (AKA STATE HIGHWAY 99) (A PUBLIC RIGHT-OF-WAY OF VARYING WIDTH) AS RECORDED IN VOLUME 650, PAGE 348, OF THE OFFICIAL PUBLIC RECORDS OF CHAMBERS COUNTY, TEXAS, SAID ROD HAVING A GRID COORDINATE VALUE OF N= 13,835,077.59, AND E= 3,272,854.31; THENCE, SOUTH 01 DEGREES 14 MINUTES 23 SECONDS EAST, WITH THE EAST LINE OF SAID 41.271 ACRE TRACT COMMON WITH WEST LINE OF SAID FUTURE NITA WAY, FOR A DISTANCE OF 626.06 FEET, TO A 5/8 INCH IRON ROD WITH CAP STAMPED "GORRONDONA" FOUND AT THE SOUTHWEST CORNER OF SAID 8.255 ACRE FUTURE NITA WAY; THENCE, NORTH 85 DEGREES 23 MINUTES 06 SECONDS EAST, WITH THE SOUTH LINE OF SAID 8.255 ACRE FUTURE NITA WAY, FOR A DISTANCE OF 1,179.89 FEET, TO THE POINT OF CURVATURE OF A CURVE TO THE LEFT HAVING A CENTRAL ANGLE OF 03 DEGREES 26 MINUTES 17 SECONDS, A RADIUS OF 5,116.00 FEET AND A CHORD BEARING OF NORTH 83 DEGREES 39 MINUTES 58 SECONDS EAST AND A CHORD LENGTH OF 306.93 FEET; THENCE, CONTINUING WITH SAID SOUTH LINE OF SAID 8.255 ACRE FUTURE NITA WAY AND WITH SAID CURVE TO THE LEFT, FOR AN ARC DISTANCE OF 306.98 FEET, TO A POINT FOR THE NORTHWEST CORNER AND THE POINT OF BEGINNING OF THE HEREIN DESCRIBED 4S.7558 ACRE TRACT, SAID POINT HAVING A GRID COORDINATE VALUE OF N= 13,834,580.47, E= 3,274,348.98, SAID POINT BEING A POINT ON A NON -TANGENT CURVE TO THE LEFT HAVING A CENTRAL ANGLE OF 09 DEGREES 21 MINUTES 31 SECONDS, A RADIUS OF 5,116.00 FEET AND A CHORD BEARING OF NORTH 77 DEGREES 16 MINUTES 04 SECONDS EAST AND A CHORD LENGTH OF 834.71 FEET; THENCE, CONTINUING WITH SAID SOUTH LINE OF SAID 8.255 ACRE FUTURE NITA WAY AND WITH SAID CURVE TO THE LEFT, FOR AN ARC DISTANCE OF 835.64 FEET, TO A POINT FOR THE NORTHEAST CORNER OF THE HEREIN DESCRIBED 45.7558 ACRE TRACT; THENCE, SOUTH 04 DEGREES 52 MINUTES 58 SECONDS EAST, FOR A DISTANCE OF 2,395.04 FEET, TO A POINT FOR THE POINT OF CURVATURE OF A CURVE TO THE RIGHT HAVING A CENTRAL ANGLE OF 90 DEGREES 00 MINUTES 00 SECONDS, A RADIUS OF 18.00 FEET AND A CHORD BEARING OF SOUTH 40 DEGREES 07 MINUTES 02 SECONDS WEST AND A CHORD LENGTH OF 25.46 FEET; THENCE, WITH SAID CURVE TO THE RIGHT FOR AN ARC DISTANCE OF 28.27 FEET, TO A POINT FOR THE POINT OF TANGENCY; THENCE, SOUTH 85 DEGREES 07 MINUTES 03 SECONDS WEST, FOR A DISTANCE OF 856.30 FEET, TO A POINT FOR THE SOUTHWEST CORNER OF THE HEREIN DESCRIBED 45.7558 ACRE TRACT; THENCE, NORTH 03 DEGREES 42 MINUTES 05 SECONDS WEST, FOR A DISTANCE OF 2,299.52 FEET, TO THE POINT OF BEGINNING AND CONTAINING 45.7558 ACRES (1,993,122 SQUARE FEET) OF LAND, MORE OR LESS.