Exhibit 10.37
MORTGAGE
KNOW ALL MEN BY THESE PRESENTS:
This MORTGAGE is made this 2nd day of November, 1999, by and between Tower
Tech Inc. an Oklahoma corporation, ("Mortgagor"), and The City of Oklahoma City,
a municipal corporation, ("Mortgagee").
TREASURER'S ENDORSEMENT I certify that I received $ no tax and
issued receipt No. 1611 therefore in payment of mortgage tax
on the within mortgage $5.00 filing fee. Dated this 8th day of
November, 1999.
WITNESSETH: Xxxxxxx DeSeims, County Treasurer.
By: Xxxx Xxxxxxx, Deputy.
WHEREAS, Mortgagor is justly indebted to Mortgagee in the principal sum
of Two Million Dollars ($2,000,000) which indebtedness is evidenced by a
promissory note (the "Note") and a loan ,agreement (the "Loan Agreement") of
even date herewith, said Note payable to the order of Mortgagee, and providing
for payment of the principal amount thereof, together with interest thereon on
the terms set forth therein until paid in full.
NOW, THEREFORE, Mortgagor, in consideration of said principal sum, and
for the purpose of securing one million dollars of said indebtedness as provided
in the Note, (2) the payment of all other monies secured hereby, (3) the
performance of all the covenants, conditions, stipulations and agreements
contained in the Loan Agreement, grants, conveys and mortgages unto Mortgagee
subject to the terms hereof, its successors and assigns forever all of the
property, real estate and premises of the Mortgagor, situate in Oklahoma County,
State of Oklahoma, described as follows, to wit:
SEE ATTACHED EXHIBIT "A"
together with all buildings and improvements, (including the appurtenances,
hereditaments and all other rights thereto belonging), to be constructed thereon
or acquired and affixed thereto with the proceeds of the loans described in
Paragraph 2 hereafter and the loan secured by this Mortgage. This mortgage is
assignable to the Secretary of the Department of Housing and Urban Development
TO HAVE AND TO HOLD said premises, together with all rights of
Mortgagor therein, to Mortgagee, to successors and assigns forever.
The Mortgagor covenants and agrees with Mortgagee as follows, subject
to the lien priorities described in paragraph 2 hereof.
1. The following described estate, property and rights of Mortgagor are
also included as security for the performance of each covenant and agreement of
Mortgagor contained herein, the payment of all sums of money secured hereby, and
the covenants, conditions and agreements contained in the Loan Agreement;
(a) All the estate and rights of Mortgagor in and to said property and
in and to land lying in streets and roads adjoining said premises, and all
access rights and easements appertaining thereto.
(b) All the estates and rights of Mortgagor in and to all buildings,
structures, improvements, fixtures and articles of property now or hereafter
attached to, or used or adapted for use in the operation of the "Project", as
defined in the Loan Agreement. Provided that nothing herein shall be construed
to extend the lien created by this Mortgage to cover equipment and personalty
which Mortgagor may from time to time purchase, rent or lease but which do not
become an integral part of the facility.
(c) All and singular the lands, tenements, privileges, water rights,
hereditaments and appurtenances thereto belonging or in anyway appertaining, and
the reversion and reversions, remainder and remainders, and all the estate,
rights, title, claim, interest and demand whatsoever of the Mortgagor, either in
law or in equity, of, in and to the premises; TO HAVE AND TO HOLD said premises
described, together with all and singular the lands, tenements, privileges,
water rights hereditaments and appurtenances thereto belonging or in anyway
appertaining, and the reversion and reversions, remainder and remainders, and
all of the estate, right, title, claim and demands whatsoever of the Mortgagor,
either in law or in equity, of, in and to the above described premises as
security for the faithful performance of the Note secured hereby, as security
for the faithful performance of each and all of the covenants, agreements, terms
and conditions of this Mortgage and as security for the faithful performance of
the covenants, conditions and agreements contained in the Loan Agreement,
SUBJECT, HOWEVER, to the right, power, and authority hereinafter given to and
conferred upon Mortgagee.
(d) All of Mortgagor's rights further to encumber said property for
debt except by such encumbrance which by its actual terms and specifically
expressed intent shall be and at all times remain subject and subordinate to any
and all tenancies in existence when such encumbrance becomes effective;
Mortgagor hereby (i) representing as a special inducement to Mortgagee to make
this Loan that as of the date hereof there are no encumbrances to secure debt
junior to this Mortgage and (ii) covenanting that there are to be none as of the
date when this Mortgage becomes of Record, except in either case encumbrances
having the prior written approval of Mortgagee, and subject to the liens set out
in Paragraph 2 below.
2. To pay all debts and monies secured hereby or secured by any mortgage
prior to this Mortgage, when from any cause the same shall become due. To keep
the property free from statutory and governmental liens of any kind. Mortgagor
represents that there are no liens or encumbrances against or upon the property,
except for the Oklahoma Industries Authority First Mortgage in the principal
amount of Four Million Four Hundred Five Thousand Dollars ($4,405,000) and City
of Oklahoma City Mortgage in the amount of One Million Two Hundred Fifty
Thousand Dollars ($1,250,000) and none superior to such liens and this Mortgage
will be created or suffered to be created by the Mortgagor during the life of
this Mortgage without the written consent of Mortgagee; that it has good right
to make this Mortgage and that it will forever warrant and defend said property
unto the Mortgagee, its successors and assigns, against every person whomsoever
lawfully claiming or to claim the same or any part thereof The Mortgagor upon
request by mail will furnish a written statement duly acknowledged of the amount
due on this Mortgage and whether any offsets or defenses exist against the debt
secured hereby.
3. To maintain the buildings and other improvements on the property in
a tenantable condition and good and operable state of repair, to neither commit
nor suffer any waste, to promptly comply with all requirements of the Federal,
State, County and Municipal authorities and all other laws, ordinances,
regulations, covenants, conditions and restrictions respecting said property or
the use thereof, and pay all fees or charges of any kind in connection
therewith. The Mortgagee may recover as damages for any breach of this covenant
the amount it would cost to put the property in the condition called for herein.
Mortgagor shall permit Mortgagee or its agents and the Secretary of the
Department of Housing and Urban Development and his agents to inspect the
Project during normal business hours, including the interior of any structures
upon request by Mortgagee, the Secretary or their agents.
4. To complete or restore promptly and in good workmanlike manner any
building or improvement which may be constructed, damaged or destroyed thereon,
and pay when due all costs incurred therefor.
5. No building, improvement, or fixture covered by this Mortgage may be
removed at any time without the prior written consent of Mortgagee unless
actually replaced by an article of equal suitability, owned by Mortgagor, free
and clear of any lien or security interest except the lien described in
paragraph 2 or those approved in writing by Mortgagee.
6. To provide to the Mortgagee, at least thirty (30) days notice prior
to expiration of existing insurance, and maintain unceasingly, insurance, with
premiums paid, on all of the property that is the subject of this Mortgage, or
hereafter becoming part of the said property, against loss by fire and other
hazards, casualties and contingencies, as may be required from time to time by
the Mortgagee in such amounts and for such period of time, with standard
Mortgagee clauses (without contribution) in favor of and in form satisfactory to
the Mortgagee. In event of foreclosure of this Mortgage or other transfer of
title to the subject property in extinguishment of some or all of the
indebtedness secured hereby, all interest of the Mortgagor in any insurance
policies in force shall pass to the purchaser or grantee. On default under this
paragraph Mortgagee may, at its option, pay any such sums, without waiver of any
other right of Mortgagee by reason of such default of Mortgagor, and Mortgagee
shall not be liable to Mortgagor for failure to exercise any such option.
7. To appear in and defend any suit, action or proceeding that might affect
the value of this security instrument or the security itself or the rights and
powers of Mortgagee; and should Mortgagee after consultation with Mortgagor
elect also to appear in or defend any such action or proceeding, be made a party
to such by reason of this Mortgage, or elect to prosecute such action as appears
necessary to preserve said value, the Mortgagor will at all times, indemnify
from, and, on demand reimburse Mortgagee for any and all loss, damage, expense
or cost, including cost of evidence of title and attorneys' fees, arising out of
or incurred in connection with any such suit, action or proceeding, and the sum
of such expenditures shall be secured by this Mortgage with interest as provided
in the Note secured hereby and shall be due and payable on demand. To pay costs
of suit, costs of evidence of title and reasonable attorneys' fees in any
proceeding or suit brought by Mortgagee to foreclose this Mortgage.
8. To pay in full at least ten (10) days before delinquent all rents,
taxes, assessments and encumbrances, charges or liens with interest, that may
now or hereafter be levied, assessed or claimed upon the property that is the
subject of this Mortgage or any part thereof, which may at any time appear to be
prior or superior hereto for which provision has not been made heretofore, and
upon request will exhibit to Mortgagee official receipts therefor, and to pay
all taxes imposed upon, reasonable costs, fees and expenses of this Mortgage. On
default under this paragraph Mortgagee may, at its option, pay any such sums,
without waiver of any other right of Mortgagee by reason of such default of
Mortgagor, and Mortgagee shall not be liable to Mortgagor for failure to
exercise any such option.
9. To repay immediately on written notice to Mortgagor all sums
expended or advanced hereunder by or on behalf of Mortgagee, with interest from
the date of such advance or expenditure at the rate of six percent ( 6%) per
annum until paid, and the repayment thereof shall be secured hereby. Failure to
repay such expenditure or advance and interest thereon within thirty (30) days
of the mailing of such notice will, at Mortgagee's option, constitute an event
of default hereunder; or, Mortgagee may, at its option, commence an action
against Mortgagor for the recovery of such expenditure or advance and interest
thereon, and in such event Mortgagor agrees to pay, in addition to the amount of
such expenditure or advance and interest thereon, all costs and expenses
incurred in such action, together with attorneys' reasonable fees.
10. Should Mortgagor fail to make any payment or do any act as herein
provided, the Mortgagee, but without obligation to do so and with thirty (30)
days written notice to or demand upon Mortgagor and without releasing Mortgagor
from any obligation hereof, may: Make or do the same in such manner and to such
extent as is necessary to protect the security hereof, Mortgagee shall be
authorized to enter upon the property for such purposes; if necessary to protect
Mortgagee's interest in the security shall be authorized to commence, appear in
and defend any action or proceeding purporting to affect the security hereof or
the rights or powers of Mortgagee; pay, purchase, contest, or compromise any
encumbrance, charge or lien which in the judgment of Mortgagee appears to be
prior or superior hereto; and in exercising any said powers, incur any
liability, and expend whatever amounts are reasonably necessary therefor
including cost of evidence of title and employing counsel.
11. Should the property or any part or appurtenance thereof or. right or
interest therein be taken or damaged by reason of any public or private
improvement, condemnation proceeding (including change of grade), fire,
earthquake or other casualty, or in any other manner, Mortgageemay, at its
option, but after written notice to and consultation with Mortgagor, commence,
appear in and prosecute, in its own name, any action or proceeding, or make any
compromise or settlement, in connection with such taking or damage, and obtain
all compensation, awards or other relief therefor. All such compensation,
awards, damages, rights of action and proceeds, including the proceeds of any
policies of insurance affecting the property, are hereby assigned to Mortgagee,
which may, after deducting therefrom all its expenses, including attorneys'
fees, release any monies so received by it, or apply the same on any
indebtedness secured hereby or apply the same to the repair or restoration of
the property, provided that Mortgagee agrees that if the Project remains viable,
such proceeds will first be used to repair and restore the property. In such
event, Mortgagor further assigns to Mortgagee any return premiums or other
repayments upon any insurance at any time provided for the benefit of the
Mortgagee, refunds, or rebates made of taxes or assessments on said property,
and Mortgagee may at any time collect said return premiums, repayments, refunds,
rebates, etc., notwithstanding that no sum secured hereby be overdue when such
right to collection be asserted. Mortgagor also agrees to execute such further
assignments of any such compensation, award, damages, rebates, return of
premiums, repayments, rights of action and proceeds as Mortgagee may require.
12. Time is of the essence in connection with all obligations of the
Mortgagor in this Mortgage or in the Note or Loan Agreement. By accepting
payment of any sum secured hereby after its due date, Mortgagee does not waive
its right either to require prompt payment when due of all other sums so secured
or to declare default for failure to pay.
13. In case of a sale under this Mortgage, the said property, real,
personal and mixed, may be sold in one parcel.
14. The Mortgagor shall not hereafter, impair the security for the debt or
the Mortgagee's lien upon said property. In the event of breach of any
requirement of this paragraph, the Mortgagee may, in addition to any other
rights or remedies, at any time thereafter declare the whole of said principal
sum immediately due and payable; provided, that Mortgagee shall advise Mortgagor
of any such breach in writing and Mortgagor shall have thirty (30) days from the
date of the notice to remedy the breach.
15. All sums secured hereby shall become immediately due and payable,
at the option of Mortgagee, should Mortgagor fail to cure any default within
thirty (30) days, unless otherwise provided, of written notice to Mortgagor by
Mortgagee of such default. Each of the following occurrences shall constitute an
event of default:
(a) default by Mortgagor in the payment of any indebtedness secured
hereby or in performance or observance of any agreement contained herein; or any
indebtedness to any subsequent lender which is secured by a lien on the
property; or
(b) any assignment made by Mortgagor or the then owner of said
property for the benefit of creditors; or
(c) any transfer of title made by the Mortgagor without the prior
written approval of the Mortgagee or any of the following shall occur, with
respect to the property, the Mortgagor or the then owner of said property: (i)
the appointment of a receiver, liquidator, or Trustee; (ii) the adjudication as
a bankrupt or insolvent; (iii) the filing of any Petition for-Bankruptcy or
reorganization; (iv) the institution of any proceeding for dissolution or
liquidation; (v) if Mortgagor be unable, or admit in writing an inability to pay
his debts when due; or (vi) a default in any provision of any other instrument
which may be held by Mortgagee as security for said Note, including the Loan
Agreement and related documents, the term and covenants of which are
incorporated herein by reference as though fully set forth herein. No waiver by
Mortgagee of any default on the part of Mortgagor shall be construed as a waiver
of any subsequent default hereunder.
16. In the event of the passage, after the date of this Mortgage, of
any Federal, State or local law, deducting from the value of real property, for
the purpose of taxation, any lien thereon or changing in any way the laws now in
force for the taxation of Mortgages, deeds of trust or debts secured thereby,
for Federal, State or local purposes, or the manner of the collection of any
such taxes so as to affect the interest of Mortgagee, then and in such event
Mortgagor shall bear and pay the full amount of such taxes, provided that if for
any reason payment by Mortgagor of any such new or additional taxes would be
unlawful or if the payment thereof would constitute usury or render the loan or
indebtedness secured hereby wholly or partially usurious under any of the terms
or provisions of the Note, or the Mortgage or other vise, Mortgagee may, at its
option, after three (3) months written notice, declare the whole sum secured by
this Mortgage with interest thereon to be immediately due and payable, or
Mortgagee may, at its option pay that amount or portion of such taxes as renders
the loan or indebtedness secured hereby unlawful or usurious, in which event
Mortgagor shall concurrently therewith pay the remaining lawful and non-usurious
portion or balance of said taxes.
17. If from any circumstances whatever fulfillment of any provision of
this Mortgage or of the Note or Loan Agreement at the time performance of such
provision shall be due shall involve transcending the limit of validity
prescribed by the usury statute or any other law, then ipso facto the obligation
to be fulfilled shall be reduced to the limit of such validity, so that in no
event shall any exaction be possible under this Mortgage or under said Note that
is in excess of the limit of such validity; but such obligation shall be
fulfilled to the limit of such validity. The provisions of this paragraph shall
control every other provision of this Mortgage and said Note and Loan Agreement.
18. In the event that this Mortgage is foreclosed and the property
sold at a foreclosure sale, the purchaser may, during any redemption period
allowed, make such repairs or alterations on said property as may be reasonably
necessary for the proper operation, care, preservation, protection and insuring
thereof. Any sums so paid together with interest thereon from time of such
expenditure at the highest lawful rate shall be added to and become a part of
the amount required to be paid for redemption from such sale.
19. Mortgagor shall deliver to Mortgagee an audited annual statement
within ninety (90) days of the end of Mortgagor's fiscal year which shall cover
the income from and operating expenses of the Project; or within thirty (30)
days after written requested by Mortgagee, a detailed operating statement in
form satisfactory to the Mortgagee covering the Project and certified as correct
by Mortgagor. Mortgagor shall permit the Mortgagee or its representative, or the
Secretary of the Department of Housing and Urban Development or his
representative, to examine all books and records pertaining to the property at
any time upon reasonable notice. In the event of Mortgagor's failure to provide
access to such records, Mortgagee shall, in addition to all other remedies, have
the option of maturing the indebtedness hereby secured.
20. Mortgagee shall have the right, at its option, to foreclose this
Mortgage subject to the rights of any tenant or tenants of the property and the
failure to make any such tenant or tenants a party defendant to any suit or
action or to foreclose their rights will not be asserted by the Mortgagor as a
defense in any action or suit instituted to collect the indebtedness secured
hereby or any part thereof or any deficiency remaining unpaid after foreclosure
and sale of the property, any statute or rule of law at any time existing to the
contrary notwithstanding.
21. Notwithstanding anything to the contrary herein contained, the
Mortgagee agrees to look solely to the Mortgagor's interest in the Project as
security for payment of the indebtedness hereby secured and for the performance
of the provisions of the Note, the Mortgage and any other document securing
payment of the Note. Nothing in the Loan Agreement, the Note or the Mortgage or
in any other instrument securing payment of the Note shall impose any personal
obligation or liability on any individual having or acquiring any interest in
the Project. On default in payment of the Note or performance of the Mortgage or
of any other instrument securing payment of the Note, no deficiency or other
money judgment shall be sought or obtained against any such person. Nothing
herein contained shall impair any lien or security interest securing payment of
the indebtedness owing to the Mortgagee or otherwise limit or restrict the
rights of the Mortgagee with respect to the Project or any other collateral.
22. All Mortgagee's rights and remedies herein specified are intended
to be cumulative and not in substitution for any right or remedy otherwise
available and no requirement whatsoever may be waived at any time except by a
writing signed by the Mortgagee, nor shall any waiver be operative upon other
than a single occasion. This Mortgage cannot be changed or terminated orally.
This Mortgage applies to, insures to the benefit of, and is binding not only on
the parties hereto, but on their heirs, devises, legatees, administrators,
executors, successors and assigns. All obligations of Mortgagor hereunder are
joint and several. Without affecting the liability of any other person for the
payment of any obligation herein mentioned (including Mortgagor should it convey
said property) and without affecting the lien hereof upon any property not
released, Mortgagee may, without notice, release any person so liable, extend
the maturity or modify the terms of any such obligation, or grant other
indulgences, release or reconvey or cause to be released or reconveyed at any
time all or part of the said property described herein, take or release any
other security or make other arrangements with debtors. Mortgagee may also
accept additional security, either concurrently herewith of thereafter, and sell
same or otherwise realize thereupon, either before, concurrently with, or after
sale hereunder. This Mortgage shall be so construed that wherever applicable,
the use of the singular number shall include the plural number, the use of any
gender shall be applicable to a corporation. The word "Note" shall include all
notes evidencing the indebtedness secured hereby. If any of the provisions
hereof shall be determined to contravene or be-invalid under the laws of the
State of Oklahoma, such contravening or invalidity shall be construed as if not
containing the particular provision or provisions held to be invalid, and all
rights and obligations of the parties shall be construed or enforced
accordingly. Any written notice required or allowed to be given pursuant to any
of the terms of this Mortgage shall mean by Certified Mail addressed to the
parties as follows:
The Borrower: Tower Tech, Inc.
X.X. Xxx 000000
Xxxxxxxx Xxxx, XX 00000
Attention: Xxxxxxx X. Xxxxxxxx,
Chief Financial Officer
The Lender: The City of Oklahoma City
000 Xxxx Xxxx
Xxxxx 000
Xxxxxxxx Xxxx, XX 00000
Attention: Xxxxxx Xxxxx, Planning Director
Any time period provided in the giving of any notice hereunder shall commence
three (3) days after the date such notice is mailed.
23. Borrower shall, for so long as the Loan Documents remain in effect,
at its cost and expense, carry and maintain general public liability insurance
against claims for bodily injury, personal injury, death and property damage
occurring or arising out of the Project, which insurance shall cover such claims
as may be occasioned by any act, omission, or negligence of Borrower or its
officers, agents, representatives, assigns or servants relating to the Project.
The limits of liability insurance, which may be required to be increased from
time to time as deemed necessary by the Lender, with the approval of Borrower,
which shall not be unreasonably withheld, shall be not less than One Million
Dollars ($1,000,000.00) combined single limit personal injury and property
damage insurance. The insurance required above shall be issued by an insurance
company or companies authorized to do business within the State of Oklahoma or
by such other similar insurance coverage approved by the Insurance Commissioner
of the State of Oklahoma. The Lender shall be specifically named as an
additional insured on all such policies, and any such policy or policies shall
be primary to any other valid and collectible insurance.
WITNESS the hand and seal of the Mortgagor on the day and year first above
written.
Tower Tech, Inc.
By:ss/XXXXXXX X. XXXXXXXX
-----------------------
Xxxxxxx X. Xxxxxxxx
Chief Financial Officer
ATTEST:
ss/XXXXX XXXX
-------------
Secretary
CORPORATE ACKNOWLEDGMENT
STATE OF OKLAHOMA
COUNTY OF OKLAHOMA
On this 1st day of November, 1999, before me personally appeared Xxxxxxx X.
Xxxxxxxx to me known to be the CFO of Tower Tech, Inc., an Oklahoma corporation,
that executed the within and foregoing instrument, and acknowledged said
instrument to be the free and voluntary act and deed of said corporation, for
the uses and purposes therein mentioned, and on oath stated that he/she was
authorized to execute said instrument and that the seal affixed is the corporate
seal of said corporation.
In Witness Whereof I have hereunto set my hand the day and year first above
written.
ss/XXXXX XXXXX XXXX
----------------
N0TARY PUBLIC
MY COMMISSION EXPIRES: March 9, 2002
APPROVED as to form and legality this 2nd day of November, 1999.
ss/XXXXXXX XXXXXXX
---------------
Assistant Municipal Counselor
EXHIBIT "A"
TRACT 1
A part of the Southeast Quarter (SE/4) of Section Eleven (11), Township Ten (10)
North, Range Four (4) West of the Indian Meridian, Cleveland County, Oklahoma,
being more particularly described as follows: Commencing at the Southeast corner
of said SE/4; thence S 89 degrees 42' 04" W along the South line of said SE/4 a
distance of 1,780.60 feet to the point of beginning, thence continuing S 89
degrees 42' 04" W along the South line a distance. of 843.24 feet to the
Southwest corner of said SE/4: thence N 00degrees 07' 35" W on the West line of
said SE/4 a distance of 1764.49 feet to a point 880 feet South of the Northwest
corner of said SE/4, thence N 89 degrees 42' 07" E parallel to and 880.00 feet
South of the North line of said SE/4 a distance of 240.00 feet; thence S 00
degrees 07' 35" E and parallel with the West line of said SE/4 a distance of
800.00 feet; thence S 14 degrees 49' 10" E a distance of 490.68 feet, thence N
89 degrees 42' 07" E and parallel with the North line of said SE/4 a distance of
1092.55 feet to a point on the West right-of-way line of Xxxx Xxxxxx West
Expressway (Interstate Highway No. 44); thence S 48 degrees 12' 00" W along the
West right-of-way line of said Expressway a distance of 431.80 feet; thence S 89
degrees 42' 04" W and parallel with the South line of said SE/4 a distance of
200.00 feet; thence S 48 degrees 11' 34" W and" parallel to the Westerly
right-of way line of said Expressway for a distance of 3.15 feet to a point of
curvature; thence Southwesterly and parallel to the Westerly right-of-way line
of said Expressway and on the arc of a curve to the left having a radius of
185.78 feet, and a chord bearing of S 23 degrees 56' 51" W for an arc distance
of 157.23 feet to a point, thence S 42 degrees 20' 39" W a distance of 39.62
feet to a point 33.00 feet North of the South line of said SE/4; thence S 00
degrees 17' 56" E a distance of 33.00 feet to the point or place of beginning.
Said parcel contains 20.310 acres more or less.
Tract 2
A part of the Southeast Quarter (SE/4) of Section Eleven (11), Township
Ten (10) North. Range Four (4) West of the Indian Meridian, Cleveland. County,
Oklahoma, being more particularly described as follows: Commencing at the
Southwest corner of said SE/4; thence N 00 degrees 07' 35" W on the West line of
said SE/4 a distance of 1764.49 feet to a point 880 feet south of the Northwest
corner of said SE/4, thence 9 89 degrees 42' 07" E parallel to and 880.00 feet
South of the North line of said SE/4 a distance of 240.00 feet to the point or
p1ace of beginning; thence continuing N 89 degrees 42' 07" E parallel to and
880.00 feet South of the North line of said SE/4 a distance of 250.00 feet;
thence S 00 degrees 07' 35" E and paral1el with the West line of said SE/4 a
distance of 450.00 feet; thence N 89 degrees 42' 07" East parallel with the
North line of said SE/4 a distance of 1380.65 feet to a point on the West
right-of-way line of Xxxx Xxxxxx West Expressway (Interstate Highway No. 44);
thence S 18 degrees 12' 00" W along the West right-of-way line of said
Expressway a distance of 501.74 feet to a point of curvatures, thence
Southwesterly along the West right-of-way line of said Expressway and on the arc
of a curve to the right having a radius of 681.20 feet and a chord bearing of S
33 degrees 11' 53" W for an arc distance of 356.68 feet to a point of tangency;
Thence S 48 degrees 1l' 34"W along the West right-of-way line of said Expressway
a distance of 83.25 feet, thence S 89 degrees 42' 07" W and parallel to the
North line of said SE/4 a distance of 1092.55 feet; thence N 14 degrees 49' 10"
W a distance of 490.68 feet; thence N 89 degrees 42' 07" W and parallel to the
West line of said SE/4 a distance of 1.169.19 feet to the point or place of
beginning. Said parcel contains 29.849 acres more or less.
Attachment "B"
Less This Parcel
A part of the Southeast Quarter (SW4) of Section (11), Township Ten (10) North,
Range Four (4) West of the Indian Meridian, Cleveland County, Oklahoma, being
more particularly described as follows:
Commencing at the southeast Corner of said southeast Quarter (SE/4);
Thence South 89 degrees 42' 04" West along the South line of said Southeast
Quarter (SE/4) a distance of 1,780 feet;
Thence continuing South 89 degrees 42' 04" West along the South line a distance
of 843.24 feet to the Southwest Corner of said southeast Quarter (SE/4);
Thence North 00 degrees 07' 35" West on the West line of said Southeast Quarter
(SE/4) a distance of 1764.49 feet to a point South of the Northwest Corner of
said Southeast Quarter (SE/4);
Thence North 89 degrees 42' 07" East parallel to and 880.00 feet South of the
North line of said Southeast Quarter (SE/4) a distance of 240.00 feet;
Thence South 00 degrees 07' 35" East and parallel with the West line of said
Southeast Quarter (SE/4) a distance of 735.00 feet to the point of beginning;
Thence continuing South 00 degrees 07' 35"East a distance of 65.00 feet;
Thence North 80 degrees 42' 07" East and parallel with the North line of said
Southeast Quarter (SE/4) a distance of 360.55 feet;
Thence North 00 degrees 07' 35" West and parallel with the West line of said
Southeast Quarter (SE/4) a distance of 540.00 feet;
Thence south 80 degrees 42' 07" West and parallel with the North line of said
Southeast Quarter (SE/4) a distance of 485.00 feet to the point or place of
beginning.
(Administration Building)
