EXHIBIT 10.11
AGREEMENT FOR THE PURCHASE AND SALE OF
REAL PROPERTY DATED DECEMBER 1, 2004
AGREEMENT FOR THE PURCHASE
AND SALE OF REAL PROPERTY
WITH BUILDING STRUCTURES
This agreement for the purchase and sale of real property is made and entered
into this 1st day of December 2004, by and between Talon-Durango, LLC
(hereinafter referred to as "Seller") and Valley Bancorp, or Assignee
(hereinafter referred to as "Purchaser" or "Buyer"), with reference to the
following facts.
THE PROPERTY
A. Seller is the owner of property consisting of approximately 4.59 +/- gross
acres as shown on Talon Professional Commercial Subdivision map, book 14,
page 0079 dated 1-14-04. Included in the 4.59 acres is Lot 1-1 containing
11,955 square feet as shown on the Record of Survey dated 1-14-04, book
135, page 0025.
B. Seller now desires to sell to Purchaser and Purchaser desires to purchase
from Seller Lot 1-1 including approximately 9,968 square feet, a 2-story
building of the hereinabove described property and as outlined on Exhibit
A, attached hereto ("Talon Office Park, the Property").
C. Property contains existing or to be built structures as Building "B",
9,968 square feet, together with certain rights to common area amenities,
including but not limited to the right to use six (6) covered parking
spaces in proximate location to Building "B". See Exhibit B for full
description of tenant improvement allowance.
Now therefore, in consideration of the mutual covenants, premises and agreements
contained herein, the parties do hereby agree as follows:
1. Purchase and Sale
Seller shall sell to the Purchaser and Purchaser shall purchase from Seller upon
the terms and conditions set forth, "the Property".
2. Purchase Price
The purchase price to be paid for the Property with building shall be One
Million Eight Hundred Thousand Dollars ($1,800,000.00).
3. Xxxxxxx Money Deposit
The xxxxxxx money deposit shall be evidenced by a Cashier's Check in the amount
of ONE HUNDRED THOUSAND DOLLARS AND 00/100. Xxxxxxx money to be deposited within
two (2) business days after opening escrow with Chicago Title. This xxxxxxx
money deposit shall be placed in an interest bearing account (if available) by
the escrow holder to accrue for the Purchaser's benefit.
4. Balance of Money
An additional cash deposit (second deposit) in the amount of $1,700,000.00 shall
be deposited at the close of escrow. Close of escrow shall occur on or before
January 20, 2005 or building shell final inspection.
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Buyer shall assume full responsibility for designing, permitting, and
building-out all of its own Tenant Improvements, save and except those items
listed under "Lobby Construction Included in Shell Price" and "Exterior Finishes
Included Shell Price", within Exhibit "B" attached to and made a part of this
agreement.
5. Purchaser Financing
N/A. This is to be an all cash transaction.
6. Additional Terms and Conditions
Purchaser is purchasing this property with the understanding that:
a. The subject property consists of one (1) finished pad and building
totaling approximately 9,968 square feet; The property has a property
description and a Recorded Survey of Record.
b. The existing zoning is PR - Professional Office
c. Purchaser requests a due-diligence period of fifteen (15) days during
which time all xxxxxxx money will be refundable to Purchaser, expiring on
12/22/04.
d. Neither party is represented by a real estate broker and has no claim to
any commissions.
e. This offer is subject to the approval and acceptance of the Executive
Committee of the Board of Directors of the Buyer, which must be obtained
prior to the finalization hereof. Buyer agrees to obtain the determination
of its Executive Committee as to this agreement on or before December 10,
2004, and to communicate such determination to Seller immediately
thereafter.
7. Title to the Property
Title to the Property shall be conveyed to the Purchaser, free and clear of
covenants, conditions, restrictions, rights of way, easements, liens or
encumbrances of any kind or nature whatsoever affecting the title or use of the
property except:
a. Real property taxes which are a lien not yet payable;
b. Such other matters affecting the title to or the use of the property,
which are approved, in writing, within fifteen (15) days from the opening
of escrow and after Purchaser's receipt of the preliminary title (and
survey if Purchaser elects to obtain extended coverage title insurance as
herein provided), and copies of all documents affecting the title to or
use of the property. The Purchaser in writing within said time period must
disapprove such other matters, or they shall be deemed to have approved.
Seller shall provide Purchaser with a CLTA Standard Form Policy of Title
Insurance issued by Chicago Title, with liability in the amount of the
total purchase price insuring title to the real property vested in
Purchaser, with title in the condition approved by Purchaser as herein
provided. The cost of such policy of title insurance shall be borne by the
Seller. If purchaser requests, Seller shall furnish an ALTA Extended
Coverage Form Title Insurance Policy, but, if Purchaser so requests, the
cost of the extended coverage survey and the additional cost of such title
insurance over and above the cost of ALTA Standard Form Title Insurance
will be borne by the Purchaser.
c. Recorded CC&R's and easements.
8. Escrow
The purchase and sale provided for herein shall be consummated through an escrow
to be opened at Chicago Title within two (2) business days after the execution
and delivery of this agreement. Both Purchaser and Seller shall
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deem the escrow open when both Buyer and Seller are in possession of a signed
Purchase Agreement. Said escrow shall be upon the usual form of instructions of
the escrow holder for transactions of the type provided for herein, except that
said instructions shall incorporate all of the terms and provisions of this
agreement, and in addition shall provide the following:
a. Promptly after the opening of escrow, Seller shall cause to be procured
and delivered to Purchaser, for Purchaser's approval, the Preliminary
Title Report and copies of documents referred to in Paragraphs 7 and 8;
b. Seller shall pay for any Documentary Transfer Tax, and all fees and costs
shall be divided in accordance with the usual practices of the escrow
holder and customary in the State of Nevada;
c. Real property taxes shall be prorated as of the Closing date;
d. In the event of any conflict between the terms of this agreement and the
terms of the escrow, the terms of this agreement shall prevail except
where the escrow instructions specifically provide otherwise.
If escrow fails to close as a result of Purchaser's default, all monies
previously deposited by Purchaser into escrow shall be paid to Seller as
liquidated damages. If escrow fails to close as a result of Seller's default,
Purchaser shall be entitled to seek specific performance remedies. The
provisions of this paragraph shall be the sole remedies available to each
respective party hereunder in the event of the default under this Agreement.
9. Purchaser's Contingencies
The purchase of this Property shall be contingent upon the Purchaser's written
approval of the following, in addition to conditions and/or contingencies listed
elsewhere herein:
a. The Purchaser's approval of the Preliminary Title Report, and all
documents described within the Preliminary Title Report, issued by Chicago
Title concerning the property.
b. Purchaser shall have the right, at Purchaser's expense, to select a
licensed, qualified professional(s), to make "inspections" including
tests, surveys, other studies, inspections and investigations of the
subject property, including but not limited to all surveys and engineering
as to soils conditions, sewer, water, electric, phone, gas and cable
accessibility, flood plain studies, height restrictions, airport noise,
pollution studies and arterial location studies, hydrology reports,
tortoise migration reports, other environmental hazards such as below
ground gas tanks and other substances, products and geological conditions,
access to the property and financing.
The above contingencies in Paragraph 9(a) and (b) are solely for the Purchaser's
benefit. Each of the above listed contingencies must be approved or disapproved,
in writing, by the Purchaser on or before fifteen (15) days from the receipt of
said documents, or access is given to the property, whichever comes later.
Should Purchaser not approve, for any reason whatsoever, the above
contingencies, the Purchaser shall have the right to terminate this Agreement
and cancel escrow. In the event the Purchaser terminates this agreement due to
Purchaser's disapproval of any of the above items, any deposits made by
Purchaser shall be immediately returned to Purchaser less any escrow costs
incurred and Purchaser shall have no further obligations under this agreement
and/or liability to the Seller. Purchaser shall be solely responsible for all
costs involved in satisfying the above stated contingencies. In the event the
Purchaser approves said contingencies, the xxxxxxx money deposit shall apply
toward the purchase price at close of escrow.
10. Planning and Zoning Application
Seller further warrants that said property is zoned. Zoning is described as PR -
Professional Office.
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11. Flood Zones
Purchaser is aware that the property may or may not lie within a special flood
hazard area and acknowledges that the parcel may be located in an area
designated by the Department of Housing and Urban Development (HUD) as a special
flood hazard area as delineated on the National Flood Insurance Map and, in the
event a loan is required by a financial institution, flood insurance may be
required for the term of the loan.
12. Supplemental Tax Assessments
Any supplemental tax assessment levied after close of, in this tax year will be
prorated and Seller agrees to pay Purchaser his prorata share of said
assessment.
13. Notices
Any and all notices, demands, or other communications required or desired to be
given hereunder by any party shall be in writing and shall be validly given or
made to another party if served either personally or if deposited in the United
States mail. If such notice, demand or other communication is serviced
personally, service shall be conclusively deemed made at time of such personal
service. If such notice, demand or other communication be given by mail, such
shall be conclusively deemed given forty-eight (48) hours after the deposit
thereof in the United States mail addressed to the party to whom such notice,
demand or other communication is to be given as herein set forth.
To Seller: To be provided in escrow
To Purchaser: To be provided in escrow.
Any party hereto may change its address for the purpose of receiving notices,
demands and other communications as herein provided by written notice in the
manner aforesaid to the other party or parties hereto. After opening of escrow
of all notices, demands and other communications shall be given to the escrow
holder.
14. Applicable Law and Severability
This document shall, in all respects, be governed by the laws of the State of
Nevada applicable to agreements executed and to be wholly performed within the
State of Nevada. Nothing contained herein shall be construed so as to require
the commission of any act contrary to law, and wherever there is any provision
contained herein and any present or future statue, law, or regulation contrary
to which the parties have no legal right to contract, the latter shall prevail
but the provision of this document which is affected shall be curtailed and
limited only to the extent necessary to bring it within the requirements of the
law.
15. Further Assurances
Each of the parties hereto shall execute and deliver any and all additional
papers, documents, and other assurances, and shall do any and all acts and
things reasonably necessary in connection with the performance or their
obligations hereunder and to carry out the intent of the parties hereto.
16. Tax Deferred Exchange
In the event that the Seller wishes to enter into a tax deferred exchange for
the real property described herein, of if the Purchaser wishes to enter into a
tax deferred exchange with respect to property owned by Seller in connection
with this transaction, each of the parties agrees to cooperate with the other
party in connection with such exchange including the execution of such documents
as may be reasonably necessary to effectuate the same. Provided that: (a) The
other party shall not be obligated to delay the closing, (b) All additional
costs in connection with the exchange should be borne by the party requesting
the exchange, and (c) The other party shall not be obligated to execute any
note, contract, deed or other document providing for any personal liability
which would survive the exchange, nor shall the other party be obligated to take
title to any property other than the property described in this agreement. The
other party shall be indemnified and held harmless against any liability, which
arises or is claimed to have arisen on account of the acquisition of the
exchange property.
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17. Purchaser and Seller Warranty
Purchaser and Seller warrant to Brokers and to each other that they have not
dealt with any real estate broker(s) in connection with this sale and that no
broker is entitled to any commission on account of this contract.
18. Seller Representation and Warranties
a. Seller is the owner of the property and/or has the full
right/power and authority to sell, convey, and transfer the
property to the Purchaser as provided herein, and to perform
Seller's obligations hereunder.
b. Seller has no knowledge, except as otherwise disclosed to
Purchaser in writing, of the existence or prior existence on the
property of any Hazardous Substances nor the existence of below
ground storage tanks having leakage or other related problems.
c. Seller has no knowledge of any aspect of condition of the
property, which violates applicable laws, rules, regulations,
codes or covenants, conditions or restrictions, or of
improvements or alterations made without a permit where one was
required.
d. Seller has no knowledge of any actions, suits or proceedings
pending or threatened before any commission, board, bureau,
agency instrumentality, arbitrator(s), court or tribunal that
would affect the property or the right to occupy or utilize same.
19. Attorney's Fee
In the event any action is instituted by a party hereto to enforce any of the
terms and provisions contained herein, the prevailing party in such action shall
be entitled to such reasonable attorney's fee, costs and expenses as may be
fixed by the Court.
20. Modifications or Amendments
No amendment, change or modification of this document shall be valid unless in
writing and signed by all parties hereto and provided to escrow holder.
21. Successors or Assigns
All of the terms and provisions contained herein shall inure to the benefit of
and shall be binding upon the parties hereto and their respective heirs,
personal representatives, successors and assigns.
22. Purchaser has received a full copy of the Covenants, Conditions and
Restrictions (CC&R's) relating to the "Property". Purchaser will have
five (5) days following opening of escrow, or 120 hours to review said
document and note any discrepancies in writing to Seller.
Purchaser agrees to pay to the Association fifteen cents (.15) per square foot
or agreed upon fees for common area maintenance (C.A.M.) as outlined in the
CC&R's and By-Laws.
23. Entire Agreement
This document, together with Exhibits "A" and "B" hereto constitutes the entire
understanding and agreement of the parties and any and all prior oral or written
agreements, understandings or representations are hereby terminated and canceled
in their entirety and are no further force or effect.
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IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day
and year first stated below.
In the event that this offer is not accepted by the Seller on or before December
8, 2004, at 2:00 PM Pacific Standard Time, then this Contract shall become
immediately null and void and all parties shall have no further obligations
regarding said purchase.
Buyer: Valley Bancorp or Assignee
By: _____________________________
Xxxxx Xxxxxxx
Its: Executive Vice President and C.C.O.
SELLER ACCEPTANCE: Talon-Durango, LLC
By: _____________________________
Its: _______________________________
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EXHIBIT "A"
TALON OFFICE PARK
~PROJECT SUMMARY~
The Talon Office Complex is a proposed 70,000 square feet professional park. Six
of the eight pads are dedicated to professional/medical offices with one pad
zoned for commercial/retail and one pad designated as a restaurant pad.
The Talon Office Complex will be built in several phases.
The property was purchased with the architecturals for an A & B style office
building. The civil drawings, traffic report, hydrology and soils report have
been updated through our process.
We have filed a commercial subdivision map on the project so that all eight
buildings can be sold to individual owners. Xxxxxxx Development Group, Inc.
and/or an associated LLC will maintain control of the common areas. A commercial
association will be formed in which all buildings pay a set fee for the "cam"
(common area maintenance).
When all buildings are complete, Xxxxxxx Marketing Group, LLC will manage the
common areas and ensure that it is maintained and kept to the highest standards.
The schedule on these buildings will be to begin construction as soon as we have
the pads graded and live fire hydrants, which is expected to be around December
2003 with occupancy by the second quarter of 2004.
It is Xxxxxxx'x intent to add two to three of these buildings to their portfolio
of commercial buildings. Xxxxxxx will be onsite not only managing the common
areas but the buildings on a daily basis to ensure an A+ office complex.
We would invite you to purchase a building and get involved in the prestigious
Talon Professional Office Park.
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TALON OFFICE PARK
~PROJECT DESCRIPTION~
Details of Application Request
Site Area: 4.45 acres
Building Area Total: 69,600 square feet
Number of Buildings: 8
Building Height: 25 feet (2 stories) 15 feet (1 story)
Total Parking Required: 232 spaces (including 7 handicap accessible)
Total Parking Provided: 313 spaces (including 11 handicap accessible)
Loading Required: 4 spaces
Loading Provided: 0 spaces
Zoning and Land Use of Adjacent Properties
North: R-E (Residence Estates) under Skipco
ROI to C-1 (Limited Commercial)
South: Xxxxx County Existing Single Family Residential
East: U (Undeveloped [L(Low) Existing Single Family Residential
General Plan Designation]
West: R-E (Residence Estates) under
ROI to C-1 (Limited Commercial) Developed Commercial
Analysis and Findings
Site Plan:
Staff finds the proposed site plan includes approximately 313 parking spaces,
approximately 35% more than the 232 spaces required by title 19A for 69,600
square feet of non-medical office space. As much as 50% of the proposed office
space could be utilized as medical office given the parking proposed. However,
staff finds that four loading spaces and additional landscape `fingers' for each
six parking spaces are required for Code compliance, and two additional trash
enclosures are recommended site plan conditions. Therefore, at least 20 of the
81 surplus spaces shown on the current site plan will be displaced. In addition,
pedestrian walkways should be provided for connection between building pads A
and B and E, F, G and H, and between the street sidewalk and pads D and C.
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[MAPS NOT INCLUDED]
TALON OFFICE PARK
~PRICE SHEET~
Unit I
Building Square Footage Price/Sq. Foot Zoned Price
---------- ------------------ -------------- ----- -------------
Building A 8,252 square feet $206/Sq. Ft. PR $1,699,000.00
Building B 9,900 square feet $202/Sq. Ft. PR $1,999,000.00
Building C 11,000 square feet $227/Sq. Ft. C-1 $2,499,000.00
Building D 5,500 square feet $254/Sq. Ft. C-1 $1,399,000.00
Xxxx 0
Xxxxxxxxx X, X, X & X = To be determined
Price Includes the Following:
1. $20.00 sq. ft. Tenant Improvement
2. Finished lobby area with elevator and (4) restrooms
3. (4) covered parking spaces
4. 3% broker fee
5. (4) 2'x7' sign boxes on buildings
6. 18"x36" space on monument sign at entry = $5,000/space
Each building will pay a monthly C.A.M. fee of .15 cents per square foot for a
total building footage.
Expenses will be divided as follows:
Common Area Expense (C.A.M.) Building Expense
----------------------------- -----------------------------------
Sewer & Water Interior Lobby
Trash/Trash Enclosure Exterior Building Security Lighting
Parking Lot Lighting Interior Liability Insurance
Landscaping Fire and Casualty Insurance
Monument Signage Exterior Building Maintenance
Parking Areas/Sidewalk Upkeep (Includes paint and roofing)
Assigned Covered Parking
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EXHIBIT "B"
TO THE AGREEMENT FOR THE PURCHASE
AND SALE OF REAL PROPERTY WITH BUILDING STRUCTURES
Tenant Improvement Breakdown
Not included in the price of the shell is a $20.00 per square foot allowance or
$199,360.00 minus tenant improvements constructed to date. (N.I.C., allowance
deducted)
The "yellow" highlighted area as indicated on the Building B floor plans will
include the following and are included in the price of the shell:
Lobby Construct/on Included in Shell Price
1. Drywall & Paint
2. Stairwell & Elevator
3. Building Directory and Fire Extinguishers
4. (4) Restrooms (complete)
5. Floor Coverings
6. Lobby Lighting and Lobby HVAC
Exterior Finishes Included Shell Price
1. Exterior Building Paint and Ceramic Tile
2. All Glazing and Store Front Doors
3. Exterior Ceramic Tile Border/Band
4. Exterior Lighting and Fixtures
5. Sidewalks and Paving
6. Landscaping
7. Covered Parking
8. Monument Sign & (4) Building Signs
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ASSIGNEE INSTRUCTIONS
December 16, 2004
ESCROW NUMBER: 04161218-086-JR
Escrow Agent is hereby instructed and directed that the Assignee(s) in the above
referenced escrow is/are to be Assignee(s) Name(s) and you are hereby instructed
to treat said assignee(s) in all respects as though they were the original
purchaser(s) to said escrow.
The undersigned Assignor(s) by signature(s) below, hereby relinquish all of
their right, title and interest in and to the subject escrow and the property to
which it pertains, and assign all such rights to the herein named Assignees.
Further, all funds heretofore deposited by Assignor(s) are hereby
unconditionally transferred to the account of said Assignees without
reimbursement to or collection for the account of the Assignor(s).
The undersigned Assignees, jointly and severally, hereby accept the appointment
as Assignee hereunder, and indicates that he has received, read and approved the
escrow instructions controlling this transaction and any other related documents
thereto, and accents the obligations and rights imposed and granted thereunder.
ASSIGNOR:
Valley Bancorp, a Nevada corporation
_________________________________________
Xxxxx Xxxxxxx, Executive Vice President
and C.C.O.
ASSIGNEE:
Valley Bank, a Nevada corporation ________________________________
_________________________________________ ________________________________
Xxxxxxx X. Xxxxxxx, Senior Vice President
ACCEPTANCE
Undersigned Seller hereby accepts Buyer/Assignee in place of Assignor as the
substituted party to said escrow instructions, and agrees with Assignee to be
bound by the terms of the escrow instructions in all respects, as if Assignee
was originally named therein as a party in place of Buyer/Assignor.
SELLER:
Talon-Durango, LLC, a Nevada limited liability company
____________________________________________
Xxxxx X. Xxxxxx, Managing Member
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ASSIGNEE INSTRUCTIONS
January 20, 2005
ESCROW NUMBER: 04161218-086-JR
Escrow Agent is hereby instructed and directed that the Assignee(s) in the above
referenced escrow is/are to be Valley Bank, a Nevada Corporation and you are
hereby instructed to treat said assignee(s) in all respects as though they were
the original purchaser(s) to said escrow.
The undersigned Assignor(s) by signature(s) below, hereby relinquish all of
their right, title and interest in and to the subject escrow and the property to
which it pertains, and assign all such rights to the herein named Assignees.
Further, all funds heretofore deposited by Assignor(s) are hereby
unconditionally transferred to the account of said Assignees without
reimbursement to or collection for the account of the Assignor(s).
The undersigned Assignees, jointly and severally, hereby accept the appointment
as Assignee hereunder, and indicates that he has received, read and approved the
escrow instructions controlling this transaction and any other related documents
thereto, and accepts the obligations and rights imposed and granted thereunder.
ASSIGNOR:
Valley Bancorp, a Nevada corporation
_________________________________________
Xxxxx Xxxxxxx, Executive Vice President
and C.C.O.
ASSIGNEE:
Valley Bank, a Nevada corporation ________________________________
_________________________________________ ________________________________
Xxxxxxx X. Xxxxxxx, Senior Vice President
ACCEPTANCE
Undersigned Seller hereby accepts Buyer/Assignee in place of Assignor as the
substituted party to said escrow instructions, and agrees with Assignee to be
bound by the terms of the escrow instructions in all respects, as if Assignee
was originally named therein as a party in place of Buyer/Assignor.
SELLER:
Talon-Durango, LLC, a Nevada limited liability company
________________________________________
Xxxxx X. Xxxxxx, Managing Member
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APN: 163-01-110-005
Affix R.P.T.T. $9,180.00
WHEN RECORDED MAIL TO and MAIL TAX
STATEMENT TO:
VALLEY BANK
3500 WEST SAHARA
ESCROW NO: 04161218-086-JR
GRANT, BARGAIN, SALE DEED
THIS INDENTURE WITNESSETH: That
Talon-Durango, LLC, A Nevada limited liability company
in consideration of $10.00 and other valuable consideration, the receipt of
which is hereby acknowledged, do hereby Grant, Bargain, Sell and Convey to
Valley Bank, a Nevada Corporation all that real property situated in the County
of Xxxxx, State of Nevada, bounded and described as follows:
SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF.
Subject to: 1. Taxes for the current fiscal year, paid current.
2. Conditions, covenants, restrictions, reservations,
rights, rights of way and easements now of record, if
any.
Together with all and singular the tenements, hereditaments and appurtenances
thereunto belonging or in anywise appertaining.
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ESCROW NO: 04161218-086-JR
Witness my/our hand(s) this 17th day of December, 2004.
SELLERS:
Talon-Durango, LLC, a Nevada limited liability company
______________________________________________________
Xxxxx X. Xxxxxx, Managing Member
STATE OF NEVADA )
) ss.
COUNTY OF XXXXX )
On this 17th day of December, 2004, appeared before me, a Notary Public, Xxxxx
X. Xxxxxx, personally known or proven to me to be the person(s) whose name(s)
is/are subscribed to the above instrument, who acknowledged that he/she/they
executed the instrument for the purposes therein contained.
_____________________________________________________________
Notary Public
My commission expires: _________________________
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EXHIBIT A
PARCEL I:
A portion of Lot One (1) of the Talon Professional Commercial Subdivision as
recorded in Book 114 of Plats, Page 79, Official Records of Xxxxx County,
Nevada, being a portion of the Northwest Quarter (NW 1/4) of Xxxxxxx 0, Xxxxxxxx
00 Xxxxx, Xxxxx 60 East, M.D.B. & M., City of Las Vegas, Xxxxx County, Nevada,
described as follows:
Commencing at the Northeast corner of said government Xxx 00, Xxxxxxx 0,
Xxxxxxxx 00 Xxxxx, Xxxxx 60 East, M.D.B. & M., Xxxxx County, Nevada; Thence
South 01 degrees 35'23" East, 304.83 feet; Thence South 88 degrees 24'37" West,
67.25 feet to the True Point of Beginning;
Thence South 01 degrees 46'02" East, 81.42 feet; Thence South 88 degrees 13'58"
West, 146.83 feet; Thence North 01 degrees 46'02" West, 81.42 feet; Thence North
88 degrees 13'58" East, 146.83 feet to the True Point of Beginning.
Said Parcel is also shown as Lot 1-1 of that certain Record of Survey filed in
File 135 of Surveys, Page 25, Official Records.
PARCEL II:
Non exclusive easements for vehicular and pedestrian ingress and egress, parking
and utility purposes over and across the Common Elements of the above referenced
subdivision, as provided for in and subject to that certain Declaration of
Covenants, Conditions and Restrictions for Talon Professional Centre, recorded
April 21, 2004 in Book 20040421 as document No. 03967, Official Records.
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