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HomeMy WebLinkAboutORD 2001-51 - Shell Road PIDAN ORDINANCE CLOSING PUBLIC HEARING AND LEVYING THE ASSESSMENTS FOR THE COST OF CERTAIN IMPROVEMENTS IN THE SHELL ROAD PUBLIC IMPROVEMENT DISTRICT; FIXING CHARGES AND LIENS AGAINST THE PROPERTY IN THE DISTRICT AND AGAINST THE OWNERS THEREOF; PROVIDING FOR THE COLLECTION OF THE ASSESSMENT; PROVIDING AN EFFECTIVE DATE; PROVIDING FOR A SAVINGS CLAUSE; AND REPEALING CONFLICTING ORDINANCES OR RESOLUTIONS. WHEREAS, pursuant to Chapter 372 of the Local Government Code and Resolution No. 071041-P approved by the City Council on July 10, 2001, the City Council authorized establishment of the Shell Road Public Improvement District (the "District"); and WHEREAS, pursuant to Chapter 372 of the Local Government Code, the statutory notice of a public hearing on August 28, 2001 to consider the levy of the proposed reassessments on said real property within the District was accomplished; and WHEREAS, after notice was provided as required by Chapter 372 of the Local Government Code, the City Council of the City of Georgetown on August 28, 2001, held a public hearing to consider the levy of the proposed assessments on said property within the District, heard and passed on any objections to the proposed assessments and closed the public hearing; Now Therefore BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS: If All matters stated in the preamble of this Ordinance are found to be true and correct and are incorporated into the body of this ordinance as if copied in their entirety. II. The action of the City Council closing the August 28, 2001 public hearing in these proceedings is hereby ratified and confirmed. Ordinance No. Z oo) ' 5 Shell Road Public Improvement District Levy of Assessments Page 1 of 4 The City Council hereby approves the Assessment Plan (the "Assessment Plan") attached hereto as Exhibit "A". IV. The City Council finds that the assessments as set forth in the Assessment Plan, attached hereto as Exhibit "A", should be made and levied against the respective parcels of property within the District and against the owners thereof, and are substantially in proportion to the benefits to the respective parcels of property by means of improvements in the District for which such assessments are levied, and establish substantial justice and equality and uniformity between the respective owners to the respective properties and between all parties concerned considering the benefits received and burdens imposed, and further finds that in each case the property assessed is specially benefitted by means of the said improvements in the District, and further finds that the apportionment of the cost of the services is in accordance with the law in force in this City and State and the proceedings of the City heretofore had with reference to the formation of the District and the imposition of the assessments for said improvements are in all respects valid and regular. V. There shall be and is hereby levied and assessed against the parcels of property within the District, and against the real and true owners thereof (whether such owners be correctly named or not), the assessments as listed in Exhibit "A" attached hereto and made a part hereof. VI. The assessments above mentioned and assessed against the said parcels of property and the owners thereof, plus penalties and interest as stated in Section 33.01 et seq of the Texas Tax Code, V.A.T.S., together with reasonable attorney's fees and costs of collection, if incurred, are hereby declared to be and are made a first, prior and superior lien upon the respective parcels of property against which the same are assessed, and a personal liability and charge against the real and true owners of such Ordinance No. "2-0 01 - 51 Shell Road Public Improvement District Levy of Assessments Page 2 of 4 property, whether such owners be named herein or not, and the said liens shall be and constitute the first enforceable lien and claim against the property on which such assessments are levied, and shall be a first and paramount lien thereon, superior to all other liens and claims except State, County, School District and city ad valorem taxes. VII. If default be made in the payment of any of the said sums hereby assessed against said property owners and their property, collection thereof, including penalties and interest authorized in Section 6 above, costs and attorney's fees, shall be enforced by suit in any Court having jurisdiction or by lien foreclosure or both. VIII. All assessments levied are a personal liability and charge against the real and true owners of the premises described notwithstanding such owners may not be named, or may be incorrectly named. IX. This Ordinance shall take effect immediately from and after its passage and it is accordingly so ordained. /a A. All ordinances, parts of ordinances, or resolutions in conflict herewith are expressly repealed. B. The invalidity of any section or provision of this ordinance shall not invalidate other sections or provisions thereof. C. The City Council hereby finds and declares that written notice of the date, hour, place and subject of the meeting at which this Ordinance was adopted was posted and that such meeting was open to the public as required by law at all times during which this Ordinance and the subject matter hereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act, Chapter 551, Texas Government Code, as amended, and the Act. Ordinance No. Z 0 d ' Shell Road Public Improvement District Levy of Assessments Page 3 of 4 �' 111111111111111111811illlllllill111�""'�IIIIIIIIIIfll11 ORD 9 PGS ORDINANCE i ,r Vol i i i " � •i 1/1 ), ,•i ,111 i• l 1 i 1 i•! 1 i ' i i WHEREAS, pursuant to Chapter 372 of the Local Government Code and Resolution No. 071001-P approved by the City Council on July 10, 2001, the City Council authorized establishment of the Shell Road Public Improvement District (the "District"); and WHEREAS, pursuant to Chapter 372 of the Local Government Code, the statutory notice of a public hearing on August 28, 2001 to consider the levy of the proposed reassessments on said real property within the District was accomplished; and WHEREAS, after notice was provided as required by Chapter 372 of the Local Government Code, the City Council of the City of Georgetown on August 28, 2001, held a public hearing to consider the levy of the proposed assessments on said property within the District, heard and passed on any objections to the proposed assessments and closed the public hearing; Now Therefore BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS: I. All matters stated in the preamble of this Ordinance are found to be true and correct and are incorporated into the body of this ordinance as if copied in their entirety. II. The action of the City Council closing the August 28, 2001 public hearing in these proceedings is hereby ratified and confirmed. Ordinance No. 2 ©O+ ' S 1 Shell Road Public Improvement District Levy of Assessments Page 1 of 4 The City Council hereby approves the Assessment Plan (the "Assessment Plan") attached hereto as Exhibit "A" N. The City Council finds that the assessments as set forth in the Assessment Plan, attached hereto as Exhibit "A", should be made and levied against the respective parcels of property within the District and against the owners thereof, and are substantially in proportion to the benefits to the respective parcels of property by means of improvements in the District for which such assessments are levied, and establish substantial justice and equality and uniformity between the respective owners to the respective properties and between all parties concerned considering the benefits received and burdens imposed, and further finds that in each case the property assessed is specially benefitted by means of the said improvements in the District, and further finds that the apportionment of the cost of the services is in accordance with the law in force in this City and State and the proceedings of the City heretofore had with reference to. the formation of the District and the imposition of the assessments for said improvements are in all respects valid and regular. V. There shall be and is hereby levied and assessed against the parcels of property within the District, and against the real and true owners thereof (whether such owners be correctly named or not), the assessments as listed in Exhibit "A" attached hereto and made a part hereof. VI. The assessments above mentioned and assessed against the said parcels of property and the owners thereof, plus penalties and interest as stated in Section 33.01 et seq of the Texas Tax Code, V.A.T.S., together with reasonable attorneys fees and costs of collection, if incurred, are hereby declared to be and are made a first, prior and superior lien upon the respective parcels of property against which the same are assessed, and a personal liability and charge against the real and true owners of such Ordinance No. 2-0 01 - Js' 1 Shell Road Public Improvement District Levy of Assessments Page 2 of 4 property, whether such owners be named herein or not, and the said liens shall be and constitute the first enforceable lien and claim against the property on which such assessments are levied, and shall be a first and paramount lien thereon, superior to all other liens and claims except State, County, School District and city ad valorem taxes. VII. If default be made in the payment of any of the said sums hereby assessed against said property owners and their property, collection thereof, including penalties and interest authorized in Section b above, costs and attorney's fees, shall be enforced by suit in any Court having jurisdiction or by lien foreclosure or both. VIII. All assessments levied are a personal liability and charge against the real and true owners of the premises described notwithstanding such owners may not be named, or may be incorrectly named. IX. This Ordinance shall take effect immediately from and after its passage and it is accordingly so ordained. 0 A. All ordinances, parts of ordinances, or resolutions in conflict herewith are expressly repealed. B. The invalidity of any section or provision of this ordinance shall not invalidate other sections or provisions thereof. C. The City Council hereby finds and declares that written notice of the date, hour, place and subject of the meeting at which this Ordinance was adopted was posted and that such meeting was open to the public as required by law at all times during which this Ordinance and the subject matter hereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act, Chapter 551, Texas Government Code, as amended, and the Act. Ordinance No. 2- 0 j Shell Road Public Improvement District Levy of Assessments Page 3 of 4 READ and APPROVED on first reading this the 28th day of August, 2001. READ, APPROVED and ADOPTED on second reading this the 1 lth day of September, 2001, CI1 By: ATTEST: D. Lee, City S k� 1;4 r A� Ptirf vj r I r�- C • t k JLL5 , City Attorney e2ov„v N +- ck�-t.S Lcp Ordinance No. Shell Road Public Improvement District Levy of Assessments Page 4 of 4 EXHIBIT "A" SHELL ROAD PUBLIC IMPROVEMENT DISTRICT ASSESSMENT/SERVICE PLAN Chapter 372 of the Local Government Code of the State of Texas, known as the "Public Improvement District Assessment Act" (the "Act"), authorizes and defines the formation of a Public Improvement District within the State of Texas. By action taken by the City Council on July 10, 2001, the City of Georgetown (the "City") passed Resolution No. 071001-P authorizing the establishment of the Shell Road Public Improvement District (the "District"). In compliance with requirements outlined in various sections of the Act, the Assessment/Service Plan for the District is set forth herein. Section 1. Improvements and Services to be Provided to the District. After analyzing the improvements authorized by the Act, the City, acting through the District, determined that the design, construction and acquisition of the improvements (the "Improvements") comprising the Shell Road Realignment (as hereinafter defined), to -wit: the engineering, traffic signalization (including the traffic signalization at the Shell Road Realignment/Williams Drive intersection), utility installation and/or relocation, and the design and construction of the realignment of Shell Road from its intersection with Williams Drive to the southern boundary of Georgetown Village and a connection from this realignment to Sequoia Spur Drive (collectively, the "Shell Road Realignment"), are allowed by the Act should be provided within the District and will be of special benefit to the properties within the District. Section 2. Assessment Plan. After analyzing the assessment methods allowed by the Act, the City has determined that the following method, which is based on the benefit of the Improvements to each property owner within the District, is fair and equitable and represents the most reasonable means of allocating the cost of such Improvements. The total PID assessment for all property in the District shall equal the total cost of the Improvements (the "PID Assessment"); provided, however, in no event shall the PID Assessment exceed $832,500.00. The portion of the PID Assessment levied on each tract within the District shall be a pre- determined, fixed amount representing such tract's pro -rata share of the total PID Assessment (each, an "Individual Assessment"). Each tract's pro -rata share shall be calculated by multiplying the PID Assessment by a fraction, the numerator of which shall be the number of linear feet of Shell Road Realignment (including the linear footage of the connection from the realigned Shell Road to Sequoia Spur Drive) adjacent to or contained within such tract, and the denominator of which shall be the total linear footage of the Shell Road Realignment (including the linear footage of the connection from the re -aligned Shell Road to Sequoia Spur Drive). The Individual Assessment on each tract shall be due at the time the such tract is platted, at the time of the sale of the tract, or within seven (7) years after the Shell Road Realignment (including the installation of the Williams Drive traffic light and the construction of the Sequoia Spur connection) is completed and open to the public (the "Completion Date"), whichever occurs earlier; provided, however, in no event shall any Individual Assessment be due and owing until the Completion Date. Section 3. Assessment Roll. The District consists of those properties and property owners described in Schedule "I" attached hereto. 0,?0. *ZOO/ - 5/ "uha,b, f ``f1 '1 la``�� 1 of 3 Section 4. Indebtedness. The PID Assessment shall not exceed $832,500.00. Section 5. Costs. In accordance with the Act, the District will provide for the acquisition of the Improvements in accordance with the provisions of that certain Interlocal Agreement concerning the District, made by and between the City and Williamson County and approved by the City Council on May 31, 2001. The total costs to be assessed hereunder (the "Costs") are estimated as follows: A) Total Improvement Costs Not to exceed $832,500.00. B) Interest From and after the Completion Date, interest on Individual Assessments shall accrue at the rate f seven percent (7%), compounded annually. Section 6. Levy of Assessments. There is hereby levied by the City the Individual Assessments for the Improvements as set forth herein. The Assessment Roll may be revised annually to reflect the individual properties and property owners within the District. The Individual Assessment on each tract, and any interest accrued thereon, shall be due at the time the tract is platted, at the time of the sale of the tract, or within seven (7) years after the Completion Date; provided, however, no Individual Assessment shall be due and owing, and no interest shall accrue thereon, prior to the Completion Date. Section 7. Prepayment of Individual Assessments; No Discount for Prepayment Pursuant to Section 372.018 (b) of the Act, an Individual Assessment (and any interest accrued thereon) may be paid in whole or in part at any time prior to the date such Individual Assessment becomes due and owing. There shall be no discount or penalty for the prepayment of an Individual Assessment. Section 8. Default in Payment of Assessments. If default be made in the payment of any Individual Assessment, then the City may enforce the collection thereof (and any costs related thereto, including reasonable attorneys fees) against the property and property owner of the tract subject to such Individual Assessment by suit in any Court having jurisdiction and/or by lien foreclosure against such property in the same manner that an ad valorem tax lien against real property may be enforced by a governing body pursuant to Section 33.01 et seq. of the Texas Tax Code (the "Tax Code"). Section 9. Interest and Penalties on Delinquent Assessments. A delinquent Individual Assessment (a "Delinquent Assessment") shall accrue interest at the rate of one percent (1%) for each month or portion of a month that such Delinquent Assessment remains unpaid. In addition, a Delinquent Assessment shall be subject to the same penalties and interest established for delinquent taxes, as stated in Section 33.01 et seq. of the Tax Code. Section 10. Additional Penalty. If a Delinquent Assessment is not paid prior to July 1 of the year in which such assessment became delinquent and if it is necessary for the City to contract with an attorney for the purposes of representing the City in the collection of such Delinquent Assessment, then an additional penalty of fifteen percent (15%) of ORD. OJZOOI57 X,�1ib� wig; d 02 of the amount of the Delinquent Assessment shall be imposed to defray the costs of such collection. Notwithstanding the foregoing, the sum of the interested penalties described in Sections 9 and 10 hereof shall not exceed the amount permitted by Section 33.07 of the Tax Code. Section 11. No Installment Payments. Except as otherwise provided in Section 7 hereof, there shall be no installment payments of Individual Assessments, Section 12. Lien for Collection of Assessments. An Individual Assessment, together with any applicable interest, penalty or collection cost (including reasonable attorneys fees) permitted by the Tax Code, shall constitute a first and prior lien (an "Assessment Lied") against the property so assessed, shall be superior to all other liens and claims, except liens or claims for state, county, school district, or municipal ad valorem taxes, and shall be a personal liability of and charge against the owner of such property, regardless of whether such owner is named. Each Assessment Lien shall be effective from the date of the execution by the City of the ordinance levying the Individual Assessments (the "Assessment Ordinance") until such Individual Assessment is paid, and shall be enforced by the City in the manner provided by the Tax Code for collecting ad valorem taxes on real property. Section 13. Applicability of Tax Code. To the extent not inconsistent with the Assessment Ordinance, the Act or other laws governing public improvement districts, the provisions of the Tax Code shall be applicable to the imposition and collection of Individual Assessments by the City. Section 14. Assessment Lien Survives Foreclosure. Any Assessment Lien on property within the District shall survive the sale of such property pursuant to a judicial foreclosure, and such property may thereafter again be sold at a judicial foreclosure sale if the purchaser of such property fails to make timely payment of any remaining portion of the Individual Assessment applicable to such property. OJW o2490 1- 51 45X/1 6 �•./ `'• q 111 10 e 3 of 3 SCHEDULEI Campbell -Georgetown #1 Limited Partnership c/o Lester Baum Powell & Coleman LLP 8080 N. Central Expressway, #1380 Dallas, TX 75206 HEB c/o Eric Moede Director of Real Estate 646 S. Main Street San Antonio, TX 78204-1210 Melanie Gately Drenner & Stuart, LLP 301 Congress Ave., Suite 2100 Austin, Texas 78701 LEGAL DESCRIPTION FOR SHELL ROAD P.I.D. BEING 157.9 acres, more or less, situated in the David Wright Survey, Abstract No. 13 and the Joseph Fisk Survey, Abstract No. 232, in Williamson County Texas, said land being a portion of that certain tract of land, called 226.68 acres, as conveyed to Campbell -Georgetown No. 1, Ltd., by deed as recorded in Volume 1678, Page 9, of the Official Records of Williamson County, Texas, and being more particularly described as follows; BEGINNING at the most northerly corner of the above -referenced Campbell -Georgetown No. 1, Ltd. tract, for the most northerly corner hereof; THENCE, Southeasterly along the Northeast line of the said Campbell -Georgetown No. 1, Ltd. tract, to the most northerly eastern corner of the said Campbell -Georgetown No. 1, Ltd. tract, for the most northerly eastern corner hereof; THENCE, Southwesterly, along a southeasterly line of the said Campbell -Georgetown No. 1, Ltd. tract, to an interior corner of the said Campbell -Georgetown No, 1, Ltd. tract, for an interior corner hereof, THENCE, Southeasterly, along a northeasterly line of the said Campbell -Georgetown No. 1, Ltd. tract, to the most southerly eastern corner of the said Campbell -Georgetown No. 1, Ltd. tract, on the Northwest line of Sequoia Spur, for .the most southerly eastern corner hereof; THENCE, Southwesterly, along the said Northwest line of Sequoia Spur, being a southeasterly line of the said Campbell -Georgetown No. 1, Ltd. tract, to the intersection of the said Northwest"line of Sequoia Spur and the Northeast line of Farm to Market Highway No. 2338 (Williams Drive), for the most southerly corner of the said Campbell -Georgetown No. 1, Ltd. tract, for the most southerly corner hereof; THENCE, Northwesterly, along the Northeast Iine of Farm to Market Highway No. 2338 (Williams Drive), being the Southwest line of the said Campbell -Georgetown No. 1, Ltd. tract, to the intersection of the said Northeast line of F.M. Highway No. 2338 and the Southeast line of existing Shell Road, for the most southerly Southwest corner hereof, THENCE, Northeasterly, along the said Southeast line of existing Shell Road, 1600 feet, more or less, to the intersection of the said Southeast line of Shell Road and the proposed Southwest line of Verde Vista Extension for an interior corner hereof, THENCE, along the proposed Southwest line of the Verde Vista Extension and continuing with the projection of the said proposed Southwest line of the Verde Vista Extension to the Northwest line of the said Campbell -Georgetown No. 1, Ltd, tract, for the most westerly Southwest corner hereof; said point being Northeasterly 600 feet, more or less, from the most westerly Southwest corner of the said Campbell - Georgetown No. 1, Ltd, tract, for the most westerly Southwest corner hereof; THENCE, Northeasterly, along the Northwest line of the said Campbell -Georgetown No. 1, Ltd. tract, to the Place of BEGINNING and containing 157.9 acres of land, more or less. 19820-Id.doc Dt/ C) a!rc? 9 -In • l ` 8`1/' 01/30/2004 01:17 PM ANDERSON $30.00 NANCY E. RISTER, COUNTY CLERK WILLIAMSON COUNTY, TEXAS READ and APPROVED on first reading this the 28th day of August, 2001, READ, APPROVED and ADOPTED on second reading this the 1 Phday of September, 2001. CITY OF By: A TTP CT• PIkt M c i PrG t k R -LS City Attorney igrtoy„v N ck?t-Ls, c.L..P RGETOWN Ordinance No. I- 0 y J5 I - ' Shell Road Public Improvement District Levy of Assessments Page 4 of 4 EXHIBIT "A" SHELL ROAD PUBLIC IMPROVEMENT DISTRICT ASSESSMENT/SERVICE PLAN Chapter 372 of the Local Government Code of the State of Texas, known as the "Public Improvement District Assessment Act" (the "Act"), authorizes and defines the formation of a Public Improvement District within the State of Texas. By action taken by the City Council on July 10, 2001, the City of Georgetown (the "City") passed Resolution No. 071001-P authorizing the establishment of the Shell Road Public Improvement District (the "District"). In compliance with requirements outlined in various sections of the Act, the Assessment/Service Plan for the District is set forth herein. Section 1 Improvements and Services to be Provided to the District. After analyzing the improvements authorized by the Act, the City, acting through the District, determined that the design, construction and acquisition of the improvements (the "Improvements") comprising the Shell Road Realignment (as hereinafter defined), to -wit: the engineering, traffic signalization (including the traffic signalization at the Shell Road Realignment/Williams Drive intersection), utility installation and/or relocation, and the design and construction of the realignment of Shell Road from its intersection with Williams Drive to the southern boundary of Georgetown Village and a connection from this realignment to Sequoia Spur Drive (collectively, the "Shell Road Realignment"), are allowed by the Act should be provided within the District and will be of special benefit to the properties within the District. Section 2. Assessment Plan. After analyzing the assessment methods allowed by the Act, the City has determined that the following method, which is based on the benefit of the Improvements to each property owner within the District, is fair and equitable and represents the most reasonable means of allocating the cost of such Improvements. The total PID assessment for all property in the District shall equal the total cost of the Improvements (the "PID Assessment"); provided, however, in no event shall the PID Assessment exceed $832,500.00. The portion of the PID Assessment levied on each tract within the District shall be a pre- determined, fixed amount representing such tract's pro -rata share of the total PID Assessment (each, an "Individual Assessment"). Each tract's pro -rata share shall be calculated by multiplying the PID Assessment by a fraction, the numerator of which shall be the number of linear feet of Shell Road Realignment (including the linear footage of the connection from the realigned Shell Road to Sequoia Spur Drive) adjacent to or contained within such tract, and the denominator of which shall be the total linear footage of the Shell Road Realignment (including the linear footage of the connection from the re -aligned Shell Road to Sequoia Spur Drive). The Individual Assessment on each tract shall be due at the time the such tract is platted, at the time of the sale of the tract, or within seven (7) years after the Shell Road Realignment (including the installation of the Williams Drive traffic light and the construction of the Sequoia Spur connection) is completed and open to the public (the "Completion Date"), whichever occurs earlier; provided, however, in no event shall any Individual Assessment be due and owing until the Completion Date. Section 3. Assessment Roll. The District consists of those properties and property owners described in Schedule "I" attached hereto. ORO* *zoo/ - S/ f 1 of 3 Section 4. Indebtedness. The PID Assessment shall not exceed $832,500.00. Section 5. Costs. In accordance with the Act, the District will provide for the acquisition of the Improvements in accordance with the provisions of that certain Interlocal Agreement concerning the District, made by and between the City and Williamson County and approved by the City Council on May 31, 2001. The total costs to be assessed hereunder (the "Costs") are estimated as follows: A) Total Improvement Costs Not to exceed $832,500.00. B) Interest From and after the Completion Date, interest on Individual Assessments shall accrue at the rate f seven percent (7%), compounded annually. Section 6. Levy of Assessments. There is hereby levied by the City the Individual Assessments for the Improvements as set forth herein. The Assessment Roll may be revised annually to reflect the individual properties and property owners within the District. The Individual Assessment on each tract, and any interest accrued thereon, shall be due at the time the tract is platted, at the time of the sale of the tract, or within seven (7) years after the Completion Date; provided, however, no Individual Assessment shall be due and owing, and no interest shall accrue thereon, prior to the Completion Date. Section 7 Prepayment of Individual Assessments-, No Discount for Prepayment Pursuant to Section 372.018 (b) of the Act, an Individual Assessment (and any interest accrued thereon) may be paid in whole or in part at any time prior to the date such Individual Assessment becomes due and owing. There shall be no discount or penalty for the prepayment of an Individual Assessment. Section 8. Default in Payment of Assessments. If default be made in the payment of any Individual Assessment, then the City may enforce the collection thereof (and any costs related thereto, including reasonable attorneys fees) against the property and property owner of the tract subject to such Individual Assessment by suit in any Court having jurisdiction and/or by lien foreclosure against such property in the same manner that an ad valorem tax lien against real property may be enforced by a governing body pursuant to Section 33.01 et seq. of the Texas Tax Code (the "Tax Code"). Section 9 Interest and Penalties on Delinquent Assessments. A delinquent Individual Assessment (a "Delinquent Assessment') shall accrue interest at the rate of one percent (1%) for each month or portion of a month that such Delinquent Assessment remains unpaid. In addition, a Delinquent Assessment shall be subject to the same penalties and interest established for delinquent taxes, as stated in Section 33.01 et seq. of the Tax Code. Section 10. Additional Penalty. If a Delinquent Assessment is not paid prior to July 1 of the year in which such assessment became delinquent and if it is necessary for the City to contract with an attorney for the purposes of representing the City in the collection of such Delinquent Assessment, then an additional penalty of fifteen percent (15%) of OAC?. C2-00/-57 the amount of the Delinquent Assessment shall be imposed to defray the costs of such collection. Notwithstanding the foregoing, the sum of the interested penalties described in Sections 9 and 10 hereof shall not exceed the amount permitted by Section 33.07 of the Tax Code. Section 11. No Installment Payments. Except as otherwise provided in Section 7 hereof, there shall be no installment payments of Individual Assessments. Section 12. Lien for Collection of Assessments. An Individual Assessment, together with any applicable interest, penalty or collection cost (including reasonable attorneys fees) permitted by the Tax Code, shall constitute a first and prior lien (an "Assessment Lien") against the property so assessed, shall be superior to all other liens and claims, except liens or claims for state, county, school district, or municipal ad valorem taxes, and shall be a personal liability of and charge against the owner of such property, regardless of whether such owner is named. Each Assessment Lien shall be effective from the date of the execution by the City of the ordinance levying the Individual Assessments (the "Assessment Ordinance") until such Individual Assessment is paid, and shall be enforced by the City in the manner provided by the Tax Code for collecting ad valorem taxes on real property. Section 13. Applicability of Tax Code. To the extent not inconsistent with the Assessment Ordinance, the Act or other laws governing public improvement districts, the provisions of the Tax Code shall be applicable to the imposition and collection of Individual Assessments by the City. Section 14. Assessment Lien Survives Foreclosure. Any Assessment Lien on property within the District shall survive the sale of such property pursuant to a judicial foreclosure, and such property may thereafter again be sold at a judicial foreclosure sale if the purchaser of such property fails to make timely payment of any remaining portion of the Individual Assessment applicable to such property. OW* 0200 ! ' 51 Ex ` bo., teR 11 110`i! C ✓ of 3 SCHEDULEI Campbell -Georgetown #1 Limited Partnership c/o Lester Baum Powell & Coleman LLP 8080 N. Central Expressway, #1380 Dallas, TX 75206 HEB c/o Eric Moede Director of Real Estate 646 S. Main Street San Antonio, TX 78204-1210 Melanie Gately Drenner & Stuart, LLP 301 Congress Ave., Suite 2100 Austin, Texas 78701 LEGAL DESCRIPTION FOR SHELL ROAD P.I.D. BEING 157.9 acres, more or less, situated in the David Wright Survey, Abstract No. 13 and the Joseph Fisk Survey, Abstract No. 232, in Williamson County Texas, said land being a portion of that certain tract of land, called 226.68 acres, as conveyed to Campbell -Georgetown No. 1, Ltd., by deed as recorded in Volume 1678, Page 9, of the Official Records of Williamson County, Texas, and being more particularly described as follows; BEGINNING at the most northerly corner of the above -referenced Campbell -Georgetown No. 1, Ltd. tract, for the most northerly corner hereof; THENCE, Southeasterly along the Northeast line of the said Campbell -Georgetown No. 1, Ltd. tract, to the most northerly eastern corner of the said Campbell -Georgetown No. 1, Ltd. tract, for the most northerly eastern corner hereof, THENCE, Southwesterly, along a southeasterly line of the said Campbell -Georgetown No. 1, Ltd. tract, to an interior corner of the said Campbell -Georgetown No. 1, Ltd. tract, for an interior corner hereof, THENCE, Southeasterly, along a northeasterly line of the said Campbell -Georgetown No, 1, Ltd. tract, to the most southerly eastern corner of the said Campbell -Georgetown No. 1, Ltd. tract, on the Northwest line of Sequoia Spur, for the most southerly eastern corner hereof, THENCE, Southwesterly, along the said Northwest line of Sequoia Spur, being a southeasterly line of the said Campbell -Georgetown No. 1, Ltd. tract, to the intersection of the said Northwest' line of Sequoia Spur and the Northeast line of Farm to Market Highway No. 2338 (Williams Drive), for the most southerly corner of the said Campbell -Georgetown No. 1, Ltd. tract, for the most southerly corner hereof, THENCE, Northwesterly, along the Northeast line of Farm to Market Highway No. 2338 (Williams Drive), being the Southwest line of the said Campbell -Georgetown No. 1, Ltd. tract, to the intersection of the said Northeast line of F.M. Highway No. 2338 and the Southeast line of existing Shell Road, for the most southerly Southwest corner hereof, THENCE, Northeasterly, along the said Southeast line of existing Shell Road, 1600 feet, more or less, to the intersection of the said Southeast line of Shell Road and the proposed Southwest line of Verde Vista Extension for an interior corner hereof; THENCE, along the proposed Southwest line of the Verde Vista Extension and continuing with the projection of the said proposed Southwest line of the Verde Vista Extension to the Northwest line of the said Campbell -Georgetown No. 1, Ltd. tract, for the most westerly Southwest corner hereof, said point being Northeasterly 600 feet, more or less, from the most westerly Southwest corner of the said Campbell - Georgetown No. 1, Ltd. tract, for the most westerly Southwest corner hereof, THENCE, Northeasterly, along the Northwest line of the said Campbell -Georgetown No. 1, Ltd. tract, to the Place of BEGINNING and containing 157.9 acres of land, more or less. 19820-Id.doc