Exhibit 10.107


 


MODIFICATION AGREEMENT OF BUILDING LOAN
AGREEMENTS,

PROMISSORY NOTES AND

DEEDS OF TRUST AND SECURITY AGREEMENTS


(Building F1-10: $6,952,220.00 Loan)

(Building B1-7: $7,490.250.00 Loan)


 


This Modification Agreement (“Agreement”) is made and entered into as
of the   day of June, 2004 by and between Frisco Square B1-7, F1-10,
Ltd., a Texas limited partnership (“Borrower”); and First National Bank
of Omaha, a national banking association (“Lender”) (Borrower and Lender
are sometimes collectively referred to herein as the “parties”). This Agreement
is made with reference to the following facts and objectives:


 


A.            Borrower
and Lender are parties to that certain Building Loan Agreement (the “F1-10
Loan Agreement”), dated as of November 5, 2002, pursuant to which Lender
agreed to make available to Borrower a construction loan (the “F1-10 Loan”)
represented by that certain Promissory Note (the “F1-10 Note”) made and
executed by Borrower and payable to the order of Lender in the principal amount
of Six Million Nine Hundred Fifty Two Thousand Two Hundred Twenty and No/100ths
Dollars ($6,952,220.00) dated November 5, 2002; and


 


B.            Borrower,
to secure the F1-10 Note, executed a Deed of Trust and Security Agreement (“F1-10
Mortgage”) dated November 5, 2002, encumbering certain property located in
Frisco, Texas, as more particularly described as set forth on Exhibit A
hereto (the “F1-10 Mortgaged Property”). The F1-10 Mortgage was filled
on November 5, 2002 as Clerk’s file No. 2002-0162818 in the Office of the
County Clerk of Collin County, Texas; and


 


C.            To
further secure the F1-10 Note, Borrower executed the following documents: 1) an
Assignment of Lessor’s Interest in Leases and Rents dated November 5, 2002,
which was filed on November 5, 2002 as Clerk’s file No. 2002-0162819 in the
Office of the County Clerk of Collin County, Texas; and 2) a UCC-1 Financing
Statement which was filed on November 14, 2002 as Filing No. 03-0008086126 in
the Office of the Secretary of State of the State of Texas and filed on November
5, 2002 as Clerk’s file No. 2002-0162820 in the Office of the County Clerk of
Collin County, Texas; and


 

















 


D.            Borrower
and Lender are parties to that certain Building Loan Agreement (the “B1-7
Loan Agreement”), dated as of November 5, 2002, pursuant to which Lender
agreed to make available to Borrower a construction loan (the “B1-7 Loan”)
represented by that certain Promissory Note (the “B1-7 Note”) made and
executed by Borrower and payable to the order of Lender in the principal amount
of Seven Million Four Hundred Ninety Thousand Two Hundred Fifty and No/100ths
Dollars ($7,490,250.00) dated November 5, 2002; and


 


E.             Borrower,
to secure the B1-7 Note, executed a Deed of Trust and Security Agreement (the “B1-7
Mortgage”) dated November 5, 2002, encumbering certain property located in
Frisco, Texas, as more particularly described as set forth on Exhibit B
hereto (the “B1-7 Mortgaged Property”). The B1-7 Mortgage was filed on
November 5, 2002 as Clerk’s file No. 2002-0162814 in the Office of the County Clerk
of Collin County, Texas; and


 


F.             To
further secure the B1-7 Note, Borrower executed the following documents: 1) an
Assignment of Lessor’s Interest in Leases and Rents dated November 5, 2002,
which was filed on November 5, 2002 as Clerk’s file No. 2002-0162813 in the
Office of the County Clerk of Collin County, Texas; and 2) a UCC-1 Financing
Statement which was filed on November 14, 2002 as Filing No. 03-0008086015 in
the Office of the Secretary of State of the State of Texas and filed on
November 5, 2002 as Clerk’s file No. 2002-0162816 in the Office of the County
Clerk of Collin County, Texas; and


 


G.            The
construction costs for the project (the “F1-10 Project”) have exceeded
the amount of the F1-10 Loan, Borrower has failed to cure such deficiency and
completed space has not leased as projected. As a result of the foregoing, an
Event of Default has occurred and is continuing under the F1-10 Loan Agreement,
the B1-7 Loan Agreement and the related security documents. Therefore, at the
special instance and request of Borrower, Lender has agreed to modify the F1-10
Loan Agreement, the F1-10 Note, the F1-10 Mortgage and the related security
documents as set forth below;


 


NOW, THEREFORE, in consideration of the
premises, mutual covenants and conditions contained in this Agreement and for
other good and valuable consideration, the parties agree to modify the
F1-10 Loan Agreement, the F1-10 Note, the F1-10 Mortgage, the B1-7 Loan
Agreement, the B1-7 Note, the B1-7 Mortgage and the related security documents
as follows:


 


1.             Recitals. The
recitals set forth above are affirmed and incorporated by this reference.


 


2.             F1-10 Loan Amount. Subject to the
conditions set forth herein, the maximum amount available for borrowing by the
Borrower under the F1-10 Loan and the maximum principal amount represented by
the F1-10 Note shall be increased to Eight Million Four Hundred Six Thousand
and No/100ths Dollars ($8,406,000.00). On or before the date hereof, the
Borrower shall execute and deliver to the Lender the Amended and Restated
Promissory Note evidencing the F1-10 Loan in the form attached hereto as
Exhibit C, and the Amended and Restated Deed to Trust, Security
Agreement and Financing Statement securing the F1-10 Loan in the form attached
hereto as Exhibit D.


 


2

















 


3.             F1-10 Mini-Perm Loan Term and Term Loan
Rate. Subject to the conditions set forth herein: A) the Term Loan Maturity
Date (as such term is defined in the F1-10 Note) shall be accelerated to the
date which shall be the twenty-four month anniversary of the Term Loan Closing
Date (as such term is defined in the F1-10 Note), at which time the entire
principal balance, if not sooner paid, plus accrued interest shall be due and
payable in full; and B) Term Loan Rate (as such term is defined in the F1-10
Note) shall be changed to mean a per annum rate of interest equal to either:
(i) the Prime Rate plus three percent (3.00%), which shall change with, and be
effective on the date of, each change in the Prime Rate, and which shall never
be reduced below seven and one-half percent (7.50%), nor increased over ten
percent (10.00%); or (ii) a fixed rate of interest equal to the Federal Home
Loan Bank 3-year Advance Rate plus three and one-half percent (3.50%) as of the
Term Loan Closing Date, which shall not be less than eight percent (8.00%), nor
more than ten percent (10.00%).


 


4.             B1-7 Loan Amount. The commitment of
the Lender to make any advances under the B1-7 Loan on or after the date hereof
to the Borrower pursuant to the B1-7 Loan Agreement and the B1-7 Note is hereby
terminated. On or before the date hereof, the Borrower shall execute and
deliver to the Lender the Amended and Restated Promissory Note evidencing the
B1-7 Loan in the form attached hereto as Exhibit E, and the Amended and
Restated Deed to Trust, Security Agreement the Financing Statement securing the
B1-7 Loan in the form attached hereto as Exhibit F.


 


5.             B1-7 Note and Interest Rate. The
B1-7 Note shall be due and payable upon demand of Lender. The Interest Rate (as
such term in defined in the B1-7 Note) shall be changed to mean, until the
occurrence of an event of default, when the Interest Rate shall thereafter
equal the Default Rate, a per annum rate of interest equal to the Prime Rate
plus three percent (3.00%); provided, however, the Interest Rate
shall never be reduced below seven and one-half percent (7.50%), nor increased
over ten percent (10.00%). The Interest Rate shall change with, and be
effective on the date of, each change in the Prime Rate.


 


6.             Affirmation of Guarantee; Additional
Collateral. The increase in the principal amount of the FI-10 Loan and the
F1-10 Note is conditioned upon receipt by Lender on or before the date hereof
of the following: A) an Amended and Restated Guarantee of Payment and Performance,
in the form attached hereto as Exhibit G, duly executed and delivered by
Joseph C. McDowell, Jr.; B) a Guarantee of Payment (the “ Related Guarantee”),
in the form attached hereto as Exhibit H, duly executed and delivered by
Flower Mound Real Estate Center, Ltd., a Texas limited partnership (the “Related
Guarantor”); C), a Deed of Trust, Security Agreement and Financing
Statement (the “Related Mortgage”), in the form attached hereto as
Exhibit I, duly executed and delivered by the Related Guarantor,
encumbering certain property located in Flower Mound, Texas, as more
particularly described as set forth in the Related Mortgage (the “Related
Mortgaged Property”); D) an opinion of counsel to the Borrower and the
Related Guarantor in form and substance acceptable to Lender, and F) such other
documents and instruments as Lender may reasonably request.


 


7.             Affirmation of Security;
Cross-Collateralization and Cross-Default. The Borrower acknowledges,
ratifies and affirms all security for the F1-10 Note and the B1-7 Note


 


3

















 


previously given by Borrower to Lender in any and all security
documents, including but not limited to the F1-10 Mortgage and related security
documents and the B1-7 Mortgage and related security documents and the same
shall remain in full force and effect as security for the F1-10 Note and as
security for the B1-7 Note. In addition, the security given in favor of the
Lender by the Related Guarantor under the Related Guarantee and the Related
Mortgage shall constitute additional collateral for the F1-10 Note and the B1-7
Note. If an Event of Default is declared under the F1-10 Loan Agreement, the
F1-10 Note, the F1-10 Mortgage or any of the related security documents, then
said Event of Default shall also constitute an Event of Default under the B1-7
Loan Agreement, the B1-7 Note, the B1-7 Mortgage, the Related Guarantee, the
Related Mortgage and any of the related security documents. If an Event of
Default is declared in the B1-7 Loan Agreement, the B1-7 Note, the B1-7
Mortgage or any of the related security documents, then said Event of Default
shall also be an Event of Default under the F1-10 Loan Agreement, the F1-10
Note, the F1-10 Mortgage, the Related Guarantee, the Related Mortgage and the
related security documents. If an Event of Default is declared under the
Related Guarantee or the Related Mortgage, then such Event of Default shall
also constitute an Event of Default under the F1-10 Loan Agreement, the B1-7
Loan Agreement, the F1-10 Note, the B1-7 Note, the F1-10 Mortgage, the B1-7
Mortgage and the related security documents.


 


8.             Title Insurance. The increase in
the principal amount of the F1-10 Loan and the F1-10 Note is conditioned upon
receipt by Lender on or before the date hereof of: A) a TLTA mortgagee’s title
policy from American Title Company insuring the Amended and Restated F1-10
Mortgage to be a first lien against the F1-10 Mortgaged Property, in a form
acceptable to Lender in Lender’s sole and absolute discretion; B) a TLTA
mortgagee’s title policy from American Title Company insuring the Amended and
Restated B1-7 Mortgage to be a first lien against the B1-7 Mortgaged Property,
in a form acceptable to Lender in Lender’s sole and absolute discretion; and C)
a TLTA mortgagee’s title policy from American Title Company insuring the
Related Mortgage to be a second lien against the Related Mortgaged Property, in
a form acceptable to Lender in Lender’s sole and absolute discretion. Each of
the foregoing title policies shall include such endorsements required by Lender
that are available in Texas, including, without limitation, First Loss
Endorsement (T-14), Last Dollar Endorsement (T-15), and Tie-In (Aggregation)
Endorsement (T-16). All costs of the foregoing shall be paid by Borrower.


 


9.             Effect of the Agreement. All the
stipulations, provisions, conditions and covenants of the F1-10 Loan Agreement,
the F1-10 Note, the B1-7 Loan Agreement, the B1-7 Note, and all agreements and
documents made or given by Borrower to secure payment of the F1-10 Note and the
B1-7 Note, including but not limited to the F1-10 Mortgage and the B1-7
Mortgage, shall remain in full force and effect, as modified by this Agreement,
and nothing contained in this Agreement shall be construed to impair the security
or lien of Lender nor affect nor impair any right or powers which Lender may
have under the terms of the F1-10 Loan Agreement, the F1-10 Note, the F1-10
Mortgage, the B1-7 Loan Agreement, the B1-7 Note, the B1-7 Mortgage, or the
Guarantee of Payment and Performance heretofore given by Joseph C. McDowell,
Jr. to Lender. Borrower hereby ratifies, affirms, reaffirms, acknowledges,
confirms and agrees that the F1-10 Loan


 


4

















 


Agreement, the F1-10 Note, the F1-10 Mortgage, the B1-7 Loan Agreement,
the B1-7 Note, the B1-7 Mortgage and the related security documents represent
the valid, enforceable and collectible obligations of Borrower, and Borrower
further acknowledges that there are no existing claims, defenses, personal or
otherwise, or rights of setoff whatsoever with respect to any of the foregoing.


 


The parties hereto acknowledge and agree that for all purposes
hereunder, after giving effect to this Agreement, the F1-10 Loan and the B1-7
Loan relate to and represent one and the same construction loan relating to the
F1-10 Project in Frisco, Texas, and that each of the F1-10 Mortgage, the B1-7
Mortgage, the Related Mortgage and all of the related security documents
provide security for such loan.


 


The provisions of this Agreement are hereby declared and shall be
considered an integral part of the F1-10 Loan Agreement, the F1-10 Note, the
F1-10 Mortgage, the B1-7 Loan Agreement, the B1-7 Note, and the B1-7 Mortgage.


 


10.           Captions.
The captions of the various paragraphs of this Agreement are for convenience
only and do not necessarily define, limit, describe or construe the contents of
the paragraphs.


 


11.           Amendment Fee; Expenses. Concurrently
with the execution of this Agreement and as a condition to Lender’s agreement
to increase the principal amount of the F1-10 Loan and F1-10 Note, Borrower
shall pay to Lender an amendment fee of $12,978.00.  All costs and expenses incurred by Lender in
connection with the transactions contemplated in this Agreement, including,
without limitation, title insurance costs, filing fees, recording fees, and
attorney’s fees, shall be paid by Borrower.


 


5

















 


IN TESTIMONY WHEREOF, the parties have set their hands as of the date
first above written.


 


	
   

  	
  FRISCO SQUARE B1-7, F1-10, LTD.,

  a Texas limited partnership

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  FRISCO DEVELOPMENT TWO, LLC.,

  a Texas limited liability company, its general

  partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  FIVE STAR DEVELOPMENT CO., INC.,

  
	
   

  	
   

  	
  a Texas corporation, its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Joseph C. McDowell, Jr.

  	
   

  
	
   

  	
  Name:

  	
  Joseph C. McDowell, Jr.

  
	
   

  	
  Title:

  	
  President

  



 


6

















 


	
   

  	
  FIRST NATIONAL BANK OF OMAHA,

  a national banking association

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Eric Musgjerd

  	
   

  
	
   

  	
  Name:

  	
  Eric Musgjerd

  
	
   

  	
  Title:

  	
  Vice President

  



 


7

















 


	
  STATE
  OF TEXAS

  	
  )

  	
   

  
	
   

  	
  )
  ss.

  	
   

  
	
  COUNTY
  OF DALLAS

  	
  )

  	
   

  



 


This
Instrument was acknowledged before me on June 8, 2004, by Roy G. Morris, Power
of Attorney for Joseph C. McDowell, Jr., President of Five Star Development Co.,
Inc., a Texas corporation, sole member of Frisco Square Two, L.L.C., a Texas
limited liability company, general partner of Frisco Square B1-7, F1-10, Ltd.,
as Texas limited partnership, on behalf of said corporation, company and
partnership.


 


Given
under my hand and official seal this 8 day of June, 2004.


 


 


	
   

  	
  /s/
  Lisa R. Allen

  	
   

  
	
   

  	
  Notary
  Public

  



 


	
  My
  Commission expires:

  
	
   

  	
   

  	
  LISA R. ALLEN

  	
   

  
	
  5/14/2008

  	
   

  	
  [SEAL]

  	
  MY COMMISSION EXPIRES

  	
   

  
	
   

  	
   

  	
  MAY 14, 2008

  	
   

  
					



 


8

















 


	
  STATE
  OF NEBRASKA

  	
  )

  	
   

  
	
   

  	
  )
  ss.

  	
   

  
	
  COUNTY
  OF DOUGLAS

  	
  )

  	
   

  



 


The
foregoing instrument was acknowledged before me this 8th day of June, 2004, by
Eric Musgjerd, Vice President of First National Bank of Omaha, a national
banking association, on behalf of the association.


 


 


	
   

  	
  /s/
  Jeanie Ferguson

  	
   

  
	
   

  	
  Notary
  Public

  



 


My
Commission expires:


 


	
   

  	
  GENERAL NOTARY - State of Nebraska

  	
   

  	
   

  
	
  [SEAL]

  	
  JEANIE FERGUSON

  	
   

  	
   

  
	
   

  	
  My Comm. Exp, Oct 30, 2008

  	
   

  	
   

  



 


9

















 


EXHIBIT A


 


F1-10 Mortgaged Property


 


BEING a tract of land situated in the W. B. WATKINS SURVEY, ABSTRACT
1004, in the City of Frisco, COLLIN County, Texas, said tract being a part of a
tract conveyed to Frisco Square, Ltd., as recorded in Volume 4721, Page 2560,
COLLIN County Clerk’s No. 2000-0081361, Deed Records COLLIN County, Texas
(DRCCT), also being parts of West Main Street (a variable width right of way)
as conveyed to the City of Frisco per the Conveyance Plat recorded in Cabinet
N, Page 690 of the Map Records of COLLIN County, Texas (MRCCT), and being more
particularly described as follows:


 


BEGINNING at a 1/2 inch iron rod with “HAT” cap set for corner at the
intersection of the North line of said West Main Street with the East line of
Frisco Street (a variable width right of way), as recorded in said Conveyance
Plat;


 


THENCE North 06 degrees 36 minutes 16 seconds West, along said East
line, for a distance of 23.62 feet to a 1/2 inch iron rod with “HAT” cap set
for corner;


 


THENCE North 83 degrees 23 minutes 44 seconds East, continuing along
said East line, for a distance of 4.00 feet to a 1/2 inch iron rod with “HAT”
cap set for corner;


 


THENCE North 06 degrees 36 minutes 16 seconds West, continuing along
said East line, for a distance of 91.13 feet to a 1/2 inch iron rod with “HAT”
cap set for corner;


 


THENCE North 83 degrees 23 minutes 44 seconds East, departing said East
line, for a distance of 82.75 feet to a 1/2 inch iron rod with “HAT” cap set
for corner;


 


THENCE South 06 degrees 36 minutes 16 seconds East, for a distance of
23.75 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE South 51 degrees 36 minutes 16 seconds East, for a distance of
10.61 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE North 83 degrees 23 minutes 44 seconds East, for a distance of
12.20 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE North 06 degrees 36 minutes 16 seconds West, for a distance of
0.75 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE North 83 degrees 23 minutes 44 seconds East, for a distance of
17.34 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE South 06 degrees 36 minutes 16 seconds East, for a distance of
0.75 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


10

















 


THENCE North 83 degrees 23 minutes 44 seconds East, for a distance of
15.19 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE North 06 degrees 36 minutes 16 seconds West, for a distance of
1.50 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE North 83 degrees 23 minutes 44 seconds East, for a distance of
25.28 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE South 06 degrees 36 minutes 16 seconds East, for a distance of
1.50 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE North 83 degrees 23 minutes 44 seconds East, for a distance of
14.77 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE North 06 degrees 36 minutes 16 seconds West, for a distance of
0.75 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE North 83 degrees 23 minutes 44 seconds East, for a distance of
17.08 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE South 06 degrees 36 minutes 16 seconds East, for a distance of
81.75 feet to a 1/2 inch iron rod with “HAT” cap set for corner on the North
line of said West Main St;


 


THENCE South 83 degrees 23 minutes 44 seconds West, along said North
line, for a distance of 31.85 feet to a 1/2 inch iron rod with “HAT” cap set
for corner;


 


THENCE South 06 degrees 36 minutes 16 seconds East, departing said
North line, for a distance of 2.50 feet to a 1/2 inch iron rod with “HAT” cap
set for corner;


 


THENCE South 83 degrees 23 minutes 44 seconds West, parallel to said
North line, for a distance of 25.28 feet to a 1/2 inch iron rod with “HAT” cap
set for corner;


 


THENCE North 06 degrees 36 minutes 16 seconds West, for a distance of
2.50 feet returning to the North line of said West Main St., to a 1/2 inch iron
rod with “HAT” cap set for corner;


 


THENCE South 83 degrees 23 minutes 44 seconds West, continuing said
North line, for a distance of 29.25 feet to a 1/2 inch iron rod with “HAT” cap
set for corner;


 


THENCE South 06 degrees 36 minutes 16 seconds East, departing said
North line, for a distance of 2.50 feet to a 1/2 inch iron rod with “HAT” cap
set for corner;


 


THENCE South 83 degrees 23 minutes 44 seconds West, passing at 1.40 feet,
a corner of said West Main St. as shown on said Conveyance Plat, and continuing
along the North line of said


 


11

















 


West Main St., for a total distance of 19.33 feet to a 1/2 inch iron
rod with “HAT” cap set for corner;


 


THENCE North 06 degrees 36 minutes 16 seconds West, departing said
North line, for a distance of 2.50 feet to a 1/2 inch iron rod with “HAT” cap
set for corner;


 


THENCE South 83 degrees 23 minutes 44 seconds West, passing at 1.40
feet a corner of said West Main St., and continuing along the North line of
said West Main St., for a total distance of 67.33 feet to a 1/2 inch iron rod with
“HAT” cap set for corner;


 


THENCE South 06 degrees 36 minutes 16 seconds East, departing said
North line, for a distance of 2.50 feet to a 1/2 inch iron rod with “HAT” cap
set for corner;


 


THENCE South 83 degrees 23 minutes 44 seconds West, passing at 1.58
feet a corner of said West Main St., and continuing along the North line of
said West Main St., for a total distance of 23.08 feet to the POINT OF
BEGINNING and CONTAINING 0.4245 acres (18,493 square feet) of land.


 


12

















 


EXHIBIT B


 


B1-7 Mortgaged Property


 


BEING
a tract of land situated in the W.B. WATKINS SURVEY, ABSTRACT 1004, in the City
of Frisco, COLLIN County, Texas; said tract being a part of a tract conveyed to
Frisco Square, Ltd., as recorded in Volume 4721, Page 2560, COLLIN County Clerk’s
No. 2000-0081361, Deed Records, COLLIN County, Texas (DRCCT), also being parts
of West Main Street (a variable width right of way) as conveyed to the City of
Frisco per the Conveyance Plat recorded in Cabinet N, Page 690 of the Map
Records of COLLIN County, Texas (MRCCT), and being more particularly described
as follows:


 


BEGINNING
at a 1/2 inch iron rod with “HAT” cap set for corner at the intersection of the
North line of said West Main Street with the West line of Frisco Street (a
variable width right of way), as recorded in said Conveyance Plat;


 


THENCE
South 83 degrees 23 minutes 44 seconds West, along the North line of said West
Main Street, passing at 21.50 feet a corner of said West Main St. as shown on
said Conveyance Plat, and continuing for a total distance of 23.08 feet to a
1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE
North 06 degrees 36 minutes 16 seconds West, for a distance of 2.50 feet,
returning to the North line of said West Main St. to a 1/2 inch iron rod with “HAT”
cap set for corner;


 


THENCE
South 83 degrees 23 minutes 44 seconds West, continuing said North line,
passing at 65.93 feet a corner of said West Main St., for a total distance of
67.33 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE
South 06 degrees 36 minutes 16 seconds East, for a distance of 2.50 feet
returning to the North line of said West Main St. to a 1/2 inch iron rod with “HAT”
cap set for corner;


 


THENCE
South 83 degrees 23 minutes 44 seconds West, continuing said North line,
passing at 17.93 feet a corner of said West Main St., for a total distance of
19.33 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE
North 06 degrees 36 minutes 16 seconds West, for a distance of 2.50 feet returning
to the North line of said West Main St. to a 1/2 inch iron rod with “HAT” cap
set for corner;


 


THENCE
South 83 degrees 23 minutes 44 seconds West, continuing said North line, for a
distance of 29.25 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE
South 06 degrees 36 minutes 16 seconds East, departing said North line, for a
distance of 2.50 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE
South 83 degrees 23 minutes 44 seconds West, parallel to said North line, for a
distance of 25.28 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


13

















 


THENCE North 06 degrees 36 minutes 16 seconds West, for a distance of
2.50 feet returning to the North line of said West Main St. to a 1/2
inch iron rod with “HAT” cap set for corner;


 


THENCE South 83 degrees 23 minutes 44 seconds West, continuing said
North line, for a distance of 31.85 feet to 1/2 inch iron rod
with “HAT” cap set for corner;


 


THENCE North 06 degrees 36 minutes 16 seconds West, departing said
North line, for a distance of 81.75 feet to a 1/2 inch iron rod
with “HAT” cap set for corner;


 


THENCE North 83 degrees 23 minutes 44 seconds East, for a distance of
17.08 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE South 06 degrees 36 minutes 16 seconds East, for a distance of
0.75 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE North 83 degrees 23 minutes 44 seconds East, for a distance of
14.77 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE North 06 degrees 36 minutes 16 seconds West, for a distance of
1.50 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE North 83 degrees 23 minutes 44 seconds East, for a distance of
25.28 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE South 06 degrees 36 minutes 16 seconds East, for a distance of
1.50 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE North 83 degrees 23 minutes 44 seconds East, for a distance of
15.19 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE North 06 degrees 36 minutes 16 seconds West, for a distance of
0.75 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE North 83 degrees 23 minutes 44 seconds East, for a distance of
17.34 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE South 06 degrees 36 minutes 16 seconds East, for a distance of
0.75 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE North 83 degrees 23 minutes 44 seconds East, for a distance of
12.20 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE North 38 degrees 23 minutes 44 seconds East, for a distance of
10.61 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


14

















 


THENCE North 06 degrees 36 minutes 16 seconds West, for a distance of
23.75 feet to a 1/2 inch iron rod with “HAT” cap set for corner;


 


THENCE North 83 degrees 23 minutes 44 seconds East, for a distance of
82.75 feet to a 1/2 inch iron rod with “HAT” cap set for corner
on the West line of said Frisco Street;


 


THENCE South 06 degrees 36 minutes 16 seconds East, along said West
line, for a distance of 91.13 feet to a 1/2 inch iron rod with “HAT”
cap set for corner;


 


THENCE North 83 degrees 23 minutes 44 seconds East, continuing along
said West line, for a distance of 4.00 feet to a 1/2 inch iron
rod with “HAT” cap set for corner;


 


THENCE South 06 degrees 36 minutes 16 seconds East, continuing along
said West line, for a distance of 23.62 feet to the POINT OF BEGINNING and
CONTAINING 0.4245 acres (18,493 square feet) of land.


 


15