LOCATION:
Located 3 miles W of Hagansport, TX near the NE intersection of FM 71 and NW 1081
Located 5 miles E of Sulphur Bluff, TX.
Located 13 miles NW of Mount Vernon, TX.
Located 21 miles NE of Sulpher Springs, TX.
Name of Developer: Campbell Loyal Trust
R.C. “Kit” Campbell, Trustee
PO Box 90
Bullard, TX 75757
Name of Subdivision: Eureka Lake Country
Phase I will be Tracts 1- 17
Phase II will be Tracts NE18 – NE32
Total of 32 Tracts ranging from approximately 5 acres to over 20 acres
______ Assessments:
There is no Property Owners Association; there will be no special assessments or dues.
______ COMMON AREA ACCESS:
The 12 ac. Eureka Lake and 24 ac. Eureka Creek Park will have access for all property owners. Land owners will be able to use but not fence the common areas. Catch and release fishing is recommended. No motorized boats or private docks on Eureka Lake. Hunting will be prohibited when six homes are started anywhere in Eureka Lake Country.
______ Easements:
Each tract is subject to easements for installation and maintenance of utilities as shown on the recorded plat. Generally, there is a 25’ utility easement along all county roads and a 10’ utility/drainage easement on side and rear property lines. Front building lines are generally 140’ from the centerline of the roadway, see plat for details.
______ ELECTRICITY:
FEC Electric will provide service for tracts, upon request of the customer. FEC has provided an allowance to cover new service. Ballpark costs are $200 for the first 75’ and $3/ft overhead or $6/ft underground. Call 1-800-541-2662 or 903-885-1299.
_______LIENS:
There are no liens on the property. Developer will offer financing, with no prepayment penalties and a right of exchange. See Exhibit B: “Financing Details”.
______ MINERALS:
You have no minerals rights.
______ NATURAL GAS SERVICE:
Several companies in the area can provide propane service. Tanks may be leased or purchased and currently there are nice Texas Railroad Commission rebates for installing gas appliances – up to $550.
______ REAL ESTATE TAXES:
While under a contract for deed, the developer will bill you once a year for the pro-rata share of the property taxes. When the note and deed of trust is issued, taxes will be escrowed with the developer.
The 2005 tax rates were as follows:
- Franklin County 35958 /$100
- Lateral Road Tax 14241 /$100
- Sulphur Bluff ISD 51174 /$100
- TOTAL $2.01373 per $100 — OR 2.01373% OF ACCESSED VALUE
This would mean annual taxes of $201.37 for a $10,000 property.
Taxes may be reduced for with homestead, senior citizens, disabled and/or agricultural exemptions. Property currently has the Ag. Exemption. If you change the use to something other than Ag. you maybe subject to “rollback” taxes. Talk to developer if you think you will change the use of the property.
______ RESTRICTIONS:
ATTACHED AS EXHIBIT A: “Restrictive Covenants”
______ Roads:
Lots 1 through 17 are on County Road NW1081. The lots in Phase II will face on a new road, which will be built to county specs and given to the county for maintaining. We will not start this road until 2 or more land owners are starting houses in Phase II. The road base will be installed first and the black top will be install when the first two houses are complete. The reason for this is the construction trucks will provide good compaction and it will help keep the AG tax exemption on the land.
______ School District:
Sulphur Bluff Independent School District.
______ SEWER/SEPTIC:
Each owner must get a permit for septic from Franklin County. Percolation test and the number of bathrooms will determine the size and type of the system. The cost to install an aerobic septic system for a 3 bedroom home is approximately $4400.
______ TELEPHONE:
Valor Telecommunications @ 800-483-4000 will provide service to each of the tracts.
______ TELEVISION:
Satellite service is the best option at this time. Contact Satellite Magic @ 903-537-4345 0r 866-43-Magic. Their base package including all DFW stations is currently $29.99.
______ TRASH:
Tabor Sanitation Service @ 903-885-9900. Current rate is $16.01, including the container.
______ WATER:
Cypress Springs Water Supply Corp. @ 800-860-3956 or 903-860-3400 provides water service. The new Water meter/tap fee for 5/8” meter is $625. The base rate is $19/month plus $3.25 per 1000 gallons used. All Tracts will have new 4” water line service installed to the front property line.