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HomeMy WebLinkAbout2022-12-05 J01G_09 Purchase Agreement and Assignment_JDS Real Estate Investments LLCAGENDA ITEM: CITY OF WAUKEE, IOWA CITY COUNCIL MEETING COMMUNICATION MEETING DATE: December 5, 2022 AGENDA ITEM:Consideration of approval of a resolution approving Real Estate Purchase Agreement between JDS Real Estate Investments, LLC, and the City of Waukee [Greenbelt Project] FORMAT:Resolution SYNOPSIS INCLUDING PRO & CON: The purchase of the real estate is part of the developer’s agreement previously approved for the former Shoeman Property. This will allow for the continuation of the Little Walnut Creek Headwaters project which is in the draft FY 2024-2028 CIP. FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: $716,699.96.00 COMMISSION/BOARD/COMMITTEE COMMENT: STAFF REVIEW AND COMMENT: RECOMMENDATION: Approve the Resolution. ATTACHMENTS: I. Resolution II. Purchase Agreement PREPARED BY: Beth Richardson REVIEWED BY: Rudy Koester RK J1G9 THE CITY OF WAUKEE, IOWA RESOLUTION 2022-____ APPROVING REAL ESTATE PURCHASE AGREEMENT BETWEEN JDS REAL ESTATE INVESTMENTS, LLC AND THE CITY OF WAUKEE [GREENBELT PROJECT] IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE, IOWA WHEREAS, the City of Waukee, Dallas County, State of Iowa, is a duly organized Municipal Organization; AND, WHEREAS, the City is a party to Developers Agreement (“DA”) recorded in the Dallas County Recorder’s office at Book 2022, Page 22275 between Metro Acquisitions II, LLC, and the City of Waukee dated October 17, 2022 concerning, among other things, the City’s acquisition of certain property interests necessary for the development of a green belt for the use and enjoyment of the public (“Agreement”); AND WHEREAS, Metro Acquisitions II, LLC has assigned the Agreement to JDS Real Estate Investments, LLC (“JDS”) and JDS has acquired the property which is the subject of said agreement; AND WHEREAS, the legal description for the property to be acquired by the City under paragraph 1 of the Agreement has been developed and the required plat of survey has been recorded allowing for the purchase of the property as contemplated by the Agreement; AND WHEREAS, in order to effectuate the purchase of the real estate a purchase agreement has been submitted setting forth the specific property being purchased and the process for the acquisition of the property in satisfaction of paragraph 1 of the Agreement. NOW THEREFORE BE IT RESOLVED by the City Council of the City of Waukee, Iowa, that the Real Estate Purchase Agreement between JDS Real Estate Investments, LLC, and City of Waukee is hereby approved. BE IT FURTHER RESOLVED that the City hereby consents to Metro Acquisitions II, LLC’s assignment of the Agreement to JDS, and the same is approved. BE IT FURTHER RESOLVED that City Attorney and City Staff are authorized to execute any and all documents, and make the required payments, necessary to effectuate the closing on behalf of the City. Passed by the City Council of the City of Waukee,Iowa, and approved this the 5st day of December, 2022. ____________________________ Courtney Clarke, Mayor Attest: ___________________________________ Rebecca D. Schuett, City Clerk RESULTS OF VOTE: AYE NAY ABSENT ABSTAIN Anna Bergman Pierce R. Charles Bottenberg Chris Crone Larry R. Lyon Ben Sinclair 1 ASSIGNMENT AND ASSUMPTION AGREEMENT This ASSIGNMENT AND ASSUMPTION AGREEMENT (this “Assignment”) is dated effective as of December 2, 2022, and is by and between METRO ACQUISTIONS II, LLC (“Assignor”), and JDS Real Estate Investments, LLC. (“Assignee”). RECITALS WHEREAS, Assignor has entered into that certain agreement listed on Exhibit “A” (the “Agreement”) encumbering certain real property in Dallas County, Iowa, pursuant to which Assignor has certain rights and obligations, including but not limited to the obligation to sell the real property described in the Agreement; and WHEREAS, Assignee has acquired the real property described in that Agreement from the Assignor and has agreed to the assignment of the benefits and obligations of the Agreement; and WHEREAS, in accordance with the terms hereof, the parties desire that Assignor assign all its rights under the Agreement to Assignee and that Assignee assume all of the benefits and obligations of Assignor as more particularly set forth herein. AGREEMENT NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 1. Assignor hereby assigns, transfers, sells and conveys to Assignee all of Assignor’s right, title and interest in and to the Agreement. 2. Assignee hereby assumes, and agrees to pay and perform or discharge when due, all liabilities in the Agreement that arise or accrue from and after the date hereof. 3. Assignor does hereby agree, from time to time as and when reasonably requested by Assignee, to execute and deliver (or cause to be executed and delivered) such documents or instruments and to take (or cause to be taken) such further or other actions, as may be reasonably necessary to carry out the purposes of this Assignment. 4. This Assignment shall be construed, interpreted and the rights of the parties hereto determined in accordance with the Laws of the State of Iowa without reference to its choice of law provisions. 5. This Assignment may be executed in counterparts, each of which will be deemed to be an original and all of which together constitute one and the same instrument. [SIGNATURE PAGES FOLLOW] 2 City of Waukee Assignment IN WITNESS WHEREOF, Assignor and Assignee have caused this Assignment and Assumption Agreement to be duly executed by their respective representatives thereunto duly authorized, all as of the day and year first above written. ASSIGNOR Metro Acquisitions II, LLC By: Jeff Stanbrough, authorized member 3 City of Waukee Assignment ASSIGNEE JDS Real Estate Investments, LLC. By: Jeff Stanbrough, Manager 4 City of Waukee Assignment EXHIBIT A 1. Developers Agreement (“DA”) recorded in the Dallas County Recorder’s office at book 2022, page 22275 between Metro Acquisitions II, LLC, and the City of Waukee dated October 17, 2022. ©The Iowa State Bar Association 2022 IowaDocs® Form No. 180, Offer to Buy Real Estate and Acceptance (Nonresidential) Revised January 2016 OFFER TO BUY REAL ESTATE AND ACCEPTANCE (NONRESIDENTIAL) TO: JDS Real Estate Investments, LLC, (SELLERS) The undersigned BUYERS hereby offer to buy and the undersigned SELLERS by their acceptance agree to sell the real property situated in Waukee, Iowa, legally described as: Parcel 22-160 on Attached Plat of Survey as maybe corrected prior to recordation together with any easements and appurtenant servient estates, but subject to any reasonable easements of record for public utilities or roads, any zoning restrictions customary restrictive covenants and mineral reservations of record, if any, herein referred to as the "Property," upon the following terms and conditions provided BUYERS, on possession. 1. PURCHASE PRICE. The Purchase Price shall be $716,699.96. This offer supplements paragraph 1 the developers agreement (“DA”) recorded in the Dallas County Recorder’s Office at Book 2022, Page 22275 between Metro Acquisitions II, LLC, assigned to JDS Real Estate Investments LLC, and the City of Waukee. 2. REAL ESTATE TAXES. Sellers shall pay any unpaid real estate taxes payable in prior years. Buyers shall pay all subsequent real estate taxes. 3. SPECIAL ASSESSMENTS. A. SELLERS shall pay in full at time of closing all special assessments which are a lien on the Property as of the date of closing. B. IF "A" is stricken, then SELLERS shall pay at time of closing all installments of special assessments which are a lien on the Property and, if not paid, would become delinquent during the calendar year this offer is accepted, and all prior installments thereof. C. All charges for solid waste removal, sewage and maintenance that are attributable to SELLERS' possession, including those for which assessments arise after closing, shall be paid by SELLERS. D. Any preliminary or deficiency assessment which cannot be discharged by payment shall be paid by SELLERS through an escrow account with sufficient funds to pay such liens when payable, with any unused funds returned to SELLERS. E. BUYERS shall pay all other special assessments or installments not payable by SELLERS. 4. RISK OF LOSS AND INSURANCE. SELLERS shall bear the risk of loss or damage to the Property prior to closing or possession, whichever first occurs. SELLERS agree to maintain existing insurance and BUYERS may purchase additional insurance. In the event of substantial damage or destruction prior to closing, this Agreement shall be null and void; provided, however, BUYERS shall have the option to complete the closing and receive ©The Iowa State Bar Association 2022 IowaDocs® Form No. 180, Offer to Buy Real Estate and Acceptance (Nonresidential) Revised January 2016 insurance proceeds regardless of the extent of damages. The property shall be deemed substantially damaged or destroyed if it cannot be restored to its present condition on or before the closing date. 5. POSSESSION AND CLOSING. If BUYERS timely perform all obligations, possession of the Property shall be delivered to Buyers on December 28, 2022, and any adjustments of rent, insurance, interest and all charges attributable to the SELLERS' possession shall be made as of the date of possession. Closing shall occur after the approval of title by BUYERS and vacation of the Property by SELLERS, but prior to possession by BUYERS. SELLERS agree to permit BUYERS to inspect the Property within 48 hours prior to closing to assure that the premises are in the condition required by this Agreement. If possession is given on a day other than closing, the parties shall make a separate agreement with adjustments as of the date of possession. This transaction shall be considered closed: A. Upon the delivery of the title transfer documents to BUYERS and receipt of all funds then due at closing from BUYERS under the Agreement. B. (If "A" is stricken) Upon the filing of the title transfer documents and receipt of all funds due at closing from BUYERS under the Agreement. 6. FIXTURES. Included with the Property shall be all fixtures that integrally belong to, are specifically adapted to or are a part of the real estate, whether attached or detached. 7. CONDITION OF PROPERTY. The property as of the date of this Agreement, including buildings, grounds, and all improvements, will be preserved by the SELLERS in its present condition until possession, ordinary wear and tear excepted. SELLERS make no warranties, expressed or implied, as to the condition of the property. A. BUYERS acknowledge that they have made a satisfactory inspection of the Property and are purchasing the Property in its existing condition. B. (If "A" is stricken) Within 10 days after the acceptance of this Agreement, BUYERS may, at their sole expense, have the property inspected by a person or persons of their choice to determine if there are any structural, mechanical, plumbing, electrical, environmental, or other deficiencies. Within this same period, the BUYERS may notify in writing the SELLERS of any deficiency. The SELLERS shall immediately notify the BUYERS in writing of what steps, if any, the SELLERS will take to correct any deficiencies before closing. The BUYERS shall then immediately in writing notify the SELLERS that (1) such steps are acceptable, in which case this Agreement, as so modified, shall be binding upon all parties; or (2) that such steps are not acceptable, in which case this Agreement shall be null and void, and any earnest money shall be returned to BUYERS. 8. ABSTRACT AND TITLE. SELLERS, at their expense, shall promptly obtain an abstract of title to the Property continued through the date of acceptance of this Agreement, and deliver it to BUYERS' attorney for examination. It shall show marketable title in SELLERS in conformity with this Agreement, Iowa law, and title standards of the Iowa State Bar Association. The SELLERS shall make every reasonable effort to promptly perfect title. If closing is delayed due to SELLERS' inability to provide marketable title, this Agreement shall continue in force and effect until either party rescinds the Agreement ©The Iowa State Bar Association 2022 IowaDocs® Form No. 180, Offer to Buy Real Estate and Acceptance (Nonresidential) Revised January 2016 after giving ten days written notice to the other party. The abstract shall become the property of BUYERS when the Purchase Price is paid in full. SELLERS shal l pay the costs of any additional abstracting and title work due to any act or omission of SELLERS, including transfers by or the death of SELLERS or their assignees. Unless stricken, the abstract shall be obtained from an abstracter qualified by the Guaranty Division of the Iowa Housing Finance Authority. 9. SURVEY. If a survey is required under Iowa Code Chapter 354, or city or county ordinances, SELLERS shall pay the costs thereof. BUYERS may, at BUYERS' expense prior to closing, have the property surveyed and certified by a registered land surveyor. If the survey shows an encroachment on the Property or if any improvements located on the Property encroach on lands of others, the encroachments shall be treated as a title defect. 10. ENVIRONMENTAL MATTERS. A. SELLERS warrant to the best of their knowledge and belief that there are no abandoned wells, solid waste disposal sites, hazardous wastes or substances, or underground storage tanks located on the Property, the Property does not contain levels of radon gas, asbestos, or urea-formaldehyde foam insulation which require remediation under current governmental standards, and SELLERS have done nothing to contaminate the Property with hazardous wastes or substances. SELLERS warrant that the property is not subject to any local, state, or federal judicial or administrative action, investigation or order, as the case may be, regarding wells, solid waste disposal sites, hazardous wastes or substances, or underground storage tanks. If required by Iowa law, SELLERS shall also provide BUYERS with a properly executed GROUNDWATER HAZARD STATEMENT showing the existence of any wells, private burial sites, solid waste disposal sites, private sewage disposal system, hazardous waste and underground storage tanks on the Property. B. BUYERS may at their expense, within 14 days after the date of acceptance, obtain a report from a qualified engineer or other person qualified to analyze the existence or nature of any hazardous materials, substances, conditions or wastes located on the Property. In the event any hazardous materials, substances, conditions or wastes are discovered on the Property, BUYERS' obligation hereunder shall be contingent upon the removal of such materials, substances, conditions or wastes or other resolution of the matter reasonably satisfactory to BUYERS. However, in the event SELLERS are required to expend any sum in excess of $0.00 to remove any hazardous materials, substances, conditions or wastes, SELLERS shall have the option to cancel this transaction and refund to BUYERS all earnest money paid and declare this Agreement null and void. The expense of any inspection shall be paid by BUYERS. The expense of any action necessary to remove or otherwise make safe any hazardous material, substances, conditions or waste shall be paid by SELLERS, subject to SELLERS' right to cancel this transaction as provided above. 11. DEED. Upon payment of the Purchase Price, SELLERS shall convey the Property to BUYERS by Warranty deed, free and clear of all liens, restrictions, and encumbrances ©The Iowa State Bar Association 2022 IowaDocs® Form No. 180, Offer to Buy Real Estate and Acceptance (Nonresidential) Revised January 2016 except as provided in this Agreement. General warranties of the title shall extend to the time of delivery of the deed excepting liens and encumbrances suffered or permitted by BUYERS. 12. JOINT TENANCY IN PROCEEDS AND IN REAL ESTATE. If SELLERS, immediately preceding acceptance of the offer, hold title to the Property in joint tenancy with full rights of survivorship, and the joint tenancy is not later destroyed by operation of law or by acts of the SELLERS, then the proceeds of this sale, and any continuing or recaptured rights of SELLERS in the Property, shall belong to SELLERS as joint tenants with full rights of survivorship and not as tenants in common; and BUYERS in the event of death of any SELLER, agree to pay any balance of the price due SELLERS under this contract to the surviving SELLERS and to accept a deed from the surviving SELLERS consistent with Paragraph 15. 13. JOINDER BY SELLER'S SPOUSE. SELLER'S spouse, if not a title holder immediately preceding acceptance, executes this Agreement only for the purpose of relinquishing all rights of dower, homestead and distributive share or in compliance with Section 561.13 of the Code of Iowa and agrees to execute the deed or real estate contract for this purpose. 14. USE OF PURCHASE PRICE. At time of settlement, funds of the Purchase Price may be used to pay taxes and other liens and to acquire outstanding interests, if any, of others. 15. APPROVAL OF COURT. If the Property is an asset of an estate, trust or conservatorship, this Agreement is contingent upon Court approval unless Court approval is not required under Iowa law and title standards of the Iowa State Bar Association. If the sale of the Property is subject to Court approval, the fiduciary shall promptly submit this Agreement for such approval. If this Agreement is not so approved by the closing date either party may declare this Agreement null and void, and all payments made hereunder shall be made to BUYERS. 16. REMEDIES OF THE PARTIES. A. If BUYERS fail to timely perform this Agreement, SELLERS may forfeit it as provided in the Iowa Code (Chapter 656), and all payments made shall be forfeited; or, at SELLERS' option, upon thirty days written notice of intention to accelerate the payment of the entire balance because of BUYERS' default (during which thirty days the default is not corrected), SELLERS may declare the entire balance immediately due and payable. Thereafter this Agreement may be foreclosed in equity and the Court may appoint a receiver. B. If SELLERS fail to timely perform this Agreement, BUYERS have the right to have all payments made returned to them. C. BUYERS and SELLERS are also entitled to utilize any and all other remedies or actions at law or in equity available to them, and the prevailing parties shall b e entitled to obtain judgment for costs and attorney fees. 17. NOTICE. Any notice under this Agreement shall be in writing and be deemed served when ©The Iowa State Bar Association 2022 IowaDocs® Form No. 180, Offer to Buy Real Estate and Acceptance (Nonresidential) Revised January 2016 it is delivered by personal delivery or mailed by certified mail, addressed to the parties at the addresses given below. 18. GENERAL PROVISIONS. In the performance of each part of this Agreement, time shall be of the essence. Failure to promptly assert rights herein shall not, however, be a waiver of such rights or a waiver of any existing or subsequent default. This Agreement shall apply to and bind the successors in interest of the parties. This Agreement shall survive the closing. This Agreement contains the entire agreement of the parties and shall not be amended except by a written instrument duly signed by SELLERS and BUYERS. Paragraph headings are for convenience of reference and shall not limit or affect the meaning of this Agreement. Words and phrases herein shall be construed as in the singular or plural number, and as masculine, feminine, neutral or other gender according to the context. 19. NO REAL ESTATE AGENT OR BROKER. Neither party has used the service of a real estate agent or broker in connection with this transaction. 20. CERTIFICATION. Buyers and Sellers each certify that they are not acting, directly or indirectly, for or on behalf of any person, group, entity or nation named by any Executive Order or the United States Treasury Department as a terrorist, “Specially Designated National and Blocked Person” or any other banned or blocked person, entity, nation or transaction pursuant to any law, order, rule or regulation that is enforced or administered by the Office of Foreign Assets Control; and are not engaged in this transaction, directly or indirectly on behalf of, any such person, group, entity or nation. Each party hereby agrees to defend, indemnify and hold harmless the other party from and against any and all claims, damages, losses, risks, liabilities and expenses (including attorney’s fees and costs) arising from or related to my breach of the foregoing certification. 21. INSPECTION OF PRIVATE SEWAGE DISPOSAL SYSTEM. Seller represents and warrants to Buyer that the Property is not served by a private sewage disposal system, and there are no known private sewage disposal systems on the property. 22. ADDITIONAL PROVISIONS. (a) This Agreement is subject to approval by the City the Council of the City of Waukee to be obtained after Buyers acceptance hereof and prior to the date of closing established in Section 5 of this Agreement. In the event approval is not obtained by said date, either party may terminate this Agreement upon written notice to the other. (b) This offer supplements paragraph 1 the developers agreement (“DA”) recorded in the Dallas County Recorder’s Office at Book 2022, Page 22275 between Metro Acquisitions II, LLC, assigned to JDS Real Estate Investments LLC, and the City of Waukee and upon closing, as more particularly set forth herein, the obligations of the parties with regard to the real estate transaction provided in paragraph 1 of said DA shall be deemed satisfied. The remaining provisions of the DA shall continue. ACCEPTANCE. When accepted, this Agreement shall become a binding contract. If not ©The Iowa State Bar Association 2022 IowaDocs® Form No. 180, Offer to Buy Real Estate and Acceptance (Nonresidential) Revised January 2016 accepted and delivered to BUYERS on or before December 9, 2022 this Agreement shall be null and void and all payments made shall be returned immediately to BUYERS. If accepted by SELLERS at a later date and acceptance is satisfied in writing, then this contract shall be valid and binding. Accepted ___________________, 2022 Dated _______________________, 2022 SELLER BUYER JDS REAL ESTATE INVESTMENTS, LLC CITY OF WAUKEE, IOWA By: Jeffrey D. Stanbrough, President By: Courtney Clarke, Mayor Address: 10888 Hickman Road, Ste 3B Clive, IA 50325 Address: 230 W. Hickman Road Waukee, IA 50263 Telephone: (515) 334-3345 Telephone: (515) 978-7900 PARCEL "22-159" DESCRIPTION A part of the North Half of the Southeast Quarter of Section 20, Township 79 North, Range 26 West of the 5th P.M., City of Waukee, Dallas County, Iowa, more particularly described as follows: Beginning at the Southwest Corner of the Northwest Quarter of the Southeast Quarter of Section 20, Township 79 North, Range 26 West of the 5th P.M., City of Waukee, Dallas County, Iowa; thence North 00°12'47" West along the West Line of the Northwest Quarter of the Southeast Quarter of said Section 20, a distance of 1104.37 feet; thence South 72°27'47" East, a distance of 37.51 feet; thence South 47°43'18" East, a distance of 110.47 feet; thence South 57°42'30" East, a distance of 79.07 feet; thence South 65°20'55" East, a distance of 120.65 feet; thence South 41°16'35" East, a distance of 117.69 feet; thence South 49°30'13" East, a distance of 303.21 feet; thence South 50°18'40" East, a distance of 79.06 feet; thence South 56°29'09" East, a distance of 80.20 feet; thence South 56°09'17" East, a distance of 225.00 feet; thence South 54°52'23" East, a distance of 146.22 feet; thence South 56°02'53" East, a distance of 73.98 feet; thence South 18°13'35" West, a distance of 140.23 feet; thence Southeasterly along a curve concave Northerly having a radius of 340.00 feet, an arc length of 67.50 feet, a chord length of 67.39 feet and a chord bearing of South 84°15'52" East; thence South 89°57'09" East, a distance of 107.44 feet; thence Southeasterly along a curve Southerly having a radius of 480.00 feet, an arc length of 170.21 feet, a chord length of 169.32 feet and a chord bearing of South 79°47'37" East; thence South 69°38'06" East, a distance of 2.30 feet; thence Southeasterly along a curve concave Northerly having a radius of 600.00 feet, an arc length of 75.72 feet, a chord length of 75.67 feet and a chord bearing of South 73°15'02" East; thence South 76°51'58" East, a distance of 27.09 feet; thence Southwesterly along a curve concave Easterly having a radius of 350.00 feet, an arc length of 80.28 feet, a chord length of 80.11 feet and a chord bearing of South 06°33'45" West; thence South 00°00'32" East, a distance of 16.62 feet to a point on the South Line of the Northeast Quarter of the Southeast Quarter of said Section 20; thence South 89°57'33" West along said South Line, a distance of 164.04 feet to the Southeast Corner of the Northwest Quarter of the Southeast Quarter of said Section 20; thence South 89°59'32" West along the South Line of the Northwest Quarter of the Southeast Quarter of said Section 20, a distance of 1318.72 feet to the Point of Beginning, containing 18.72 Acres (815,433 Square Feet), subject to all easements, restrictions and covenants of record. PLAT OF SURVEY PLAT LEGEND DATE OF SURVEY CI V I L D E S I G N A D V A N T A G E 2204.281 PL A T O F S U R V E Y EN G I N E E R : TE C H : RE V I S I O N S DA T E WA U K E E , I O W A 2 PL A T O F S U R V E Y 12 / 0 1 / 2 2 PH O N E : ( 5 1 5 ) 3 6 9 - 4 4 0 0 41 2 1 N W U R B A N D A L E D R I V E UR B A N D A L E , I A 5 0 3 2 2 RE V I E W : N1 / 2 O F T H E S E 1 / 4 O F SE C T I O N 2 0 - T 7 9 N - R 2 6 W INDEX LEGEND CURVE TABLE 1 PARCEL "22-160" DESCRIPTION A part of the North Half of the Southeast Quarter of Section 20, Township 79 North, Range 26 West of the 5th P.M., City of Waukee, Dallas County, Iowa, more particularly described as follows: Beginning at the Center of Section 20, Township 79 North, Range 26 West of the 5th P.M., City of Waukee, Dallas County, Iowa; thence North 89°57'38" East along the North Line of the Northwest Quarter of the Southeast Quarter of said Section 20, a distance of 392.80 feet; thence South 14°28'04" East a distance of 105.60 feet; thence South 18°49'11" East, a distance of 114.67 feet; thence South 32°56'24" East, a distance of 64.50 feet; thence South 56°36'14" East, a distance of 64.50 feet; thence South 82°46'02" East, a distance of 130.52 feet; thence North 89°57'32" East, a distance of 461.53 feet; thence South 00°00'32" East, a distance of 74.94 feet; thence South 05°04'20" East, a distance of 118.16 feet; thence South 33°58'19" East, a distance of 84.00 feet; thence South 60°15'42" East, a distance of 84.00 feet; thence South 86°54'58" East, a distance of 108.93 feet; thence North 89°57'32" East, a distance of 120.94 feet; thence South 00°02'02" West, a distance of 74.28 feet; thence South 03°53'14" West, a distance of 69.31 feet; thence South 82°58'28" East, a distance of 132.00 feet; thence North 77°42'12" East, a distance of 73.80 feet; thence North 89°57'32" East, a distance of 948.69 feet to a point on the East Line of the Northeast Quarter of the Southeast Quarter of said Section 20; thence South 00°04'49" East along said East Line, a distance of 551.85 feet to the Southeast Corner of the Northeast Quarter of the Southeast Quarter of said Section 20; thence South 89°57'33" West along the South Line of the Northeast Quarter of the Southeast Quarter of said Section 20, a distance of 1156.31 feet; thence North 00°00'32" West, a distance of 16.62 feet; thence Northeasterly along a curve concave Easterly having a radius of 350.00 feet, an arc length of 80.28 feet, a chord length of 80.11 feet and a chord bearing of North 06°33'45" East; thence North 76°51'58" West, a distance of 27.09 feet; thence Northwesterly along a curve concave Northerly having a radius of 600.00 feet, an arc length of 75.72 feet, a chord length of 75.67 feet and a chord bearing of North 73°15'02” West; thence North 69°38'06" West, a distance of 2.30 feet; thence Northwesterly along a curve concave Southerly having a radius of 480.00 feet, an arc length of 170.21 feet, a chord length of 169.32 feet and a chord bearing of North 79°47'37" West; thence North 89°57'09" West, a distance of 107.44 feet; thence Northwesterly along a curve concave Northerly having a radius of 340.00 feet, an arc length of 67.50 feet, a chord length of 67.39 feet and a chord bearing of North 84°15'52" West; thence North 18°13'35" East, a distance of 140.23 feet; thence North 56°02'53" West, a distance of 73.98 feet; thence North 54°52'23" West, a distance of 146.22 feet; thence North 56°09'17" West, a distance of 225.00 feet; thence North 56°29'09" West, a distance of 80.20 feet; thence North 50°18'40" West, a distance of 79.06 feet; thence North 49°30'13" West, a distance of 303.21 feet; thence North 41°16'35" West, a distance of 117.69 feet; thence North 65°20'55" West, a distance of 120.65 feet; thence North 57°42'30" West, a distance of 79.07 feet; thence North 47°43'18" West, a distance of 110.47 feet; thence North 72°27'47" West, a distance of 37.51 feet to a point on the West Line of the Northwest Quarter of the Southeast Quarter of said Section 20; thence North 00°12'47" West along said West Line, a distance of 217.79 feet to the Point of Beginning, containing 31.15 Acres (1,356,776 Square Feet), which includes 0.70 Acres (30,347 Square Feet) for Public Highway Easement, as recorded in Book 500, Page 539 of the Office of the Dallas County Recorder , subject to all easements restrictions and covenants of record. PARCEL "22-161" DESCRIPTION A part of the North Half of the Southeast Quarter of Section 20, Township 79 North, Range 26 West of the 5th P.M., City of Waukee, Dallas County, Iowa, more particularly described as follows: Beginning at the East Quarter Corner of Section 20, Township 79 North, Range 26 West of the 5th P.M., City of Waukee, Dallas County, Iowa; thence South 00°04'49" East along the East Line of the Northeast Quarter of the Southeast Quarter of said Section 20, a distance of 771.00 feet; thence South 89°57'32" West, a distance of 948.69 feet; thence South 77°42'12" West, a distance of 73.80 feet; thence North 82°58'28" West, a distance of 132.00 feet; thence North 03°53'14" East, a distance of 69.31 feet; thence North 00°02'02" East, a distance of 74.28 feet; thence South 89°57'32" West, a distance of 120.94 feet; thence North 86°54'58" West, a distance of 108.93 feet; thence North 60°15'42" West, a distance of 84.00 feet; thence North 33°58'19" West, a distance of 84.00 feet; thence North 05°04'20" West, a distance of 118.16 feet; thence North 00°00'32" West, a distance of 74.94 feet; thence South 89°57'32" West, a distance of 461.53 feet; thence North 82°46'02" West, a distance of 130.52 feet; thence North 56°36'14" West, a distance of 64.50 feet; thence North 32°56'24" West, a distance of 64.50 feet; thence North 18°49'11" West, a distance of 114.67 feet; thence North 14°28'04" West, a distance of 105.60 feet to a point on the North Line of the North Half of the Southeast Quarter of said Section 20; thence North 89°57'38" East along said North Line, a distance of 2249.34 feet; to the Point of Beginning, containing 30.31 Acres (1,320,496 Square Feet), which includes 0.97 Acres (42,405 Square Feet) for Public Highway Easement, as recorded in Book 500, Page 539 of the Office of the Dallas County Recorder, subject to all easements restrictions and covenants of record. N1/2 OF THE SE1/4 OF SECTION 20-T79N-R26W AREA SUMMARY 12/01/22 PARCEL "22-161" PARCEL "22-160" PARCEL "22-159" N14°28'04"W 105.60'N89°57'38"E 2249.34' S0 0 ° 0 4 ' 4 9 " E 7 7 1 . 0 0 ' S89°57'32"W 948.69' S77°42'12"W 73.80' N82°58'28"W 132.00' N03°53'14"E 69.31' N00°02'02"E 74.28' S89°57'32"W 120.94' N86°54'58"W 108.93' N60°15'42"W 84.00' N33°58'19"W 84.00' N05°04'20"W 118.16' N00°00'32"W 74.94' S89°57'32"W 461.53' N82°46'02"W 130.52' N56°36'14"W 64.50' N32°56'24"W 64.50' N18°49'11"W 114.67' S0 0 ° 0 4 ' 4 9 " E 5 5 1 . 8 5 ' S89°57'33"W 1156.31' N00°00'32"W 16.62' C1 N76°51'58"W 27.09' C2 N69°38'06"W 2.30' C3 N89°57'09"W 107.44' C4 N18°13'35"E 140.23' N56°02'53"W 73.98' N54°52'23"W 146.22' N56°09'17"W 225.00' N56°29'09"W 80.20' N50°18'40"W 79.06' N49°30'13"W 303.21' N41°16'35"W 117.69' N65°20'55"W 120.65' N57°42'30"W 79.07' N47°43'18"W 110.47' N72°27'47"W 37.51' N00°12'47"W 217.79' N89°57'38"E 392.80' S89°57'33"W 164.04'S89°59'32"W 1318.72'(M) N89°40'34"W 1320.36'(R) N0 0 ° 1 2 ' 4 7 " W 1 1 0 4 . 3 7 ' PLAT OF SURVEY CI V I L D E S I G N A D V A N T A G E 2204.281 PL A T O F S U R V E Y EN G I N E E R : TE C H : RE V I S I O N S DA T E WA U K E E , I O W A 2 PL A T O F S U R V E Y 12 / 0 1 / 2 2 PH O N E : ( 5 1 5 ) 3 6 9 - 4 4 0 0 41 2 1 N W U R B A N D A L E D R I V E UR B A N D A L E , I A 5 0 3 2 2 RE V I E W : N1 / 2 O F T H E S E 1 / 4 O F SE C T I O N 2 0 - T 7 9 N - R 2 6 W NW 1 0 T H S T R E E T 2