; ;

IN THE CHANCERY COURT OF LAFAYETTE COUNTY, MISSISSIPPI

LEXONlNSURANCECOMPANY

vs.

BAfLEY KING PROPERTIES, LLC, BArLEY PARK, LLC, KTMBERLY A. COCKEREL, CHRISTOPE[ER CUCHENS, ANDREA DELEEUW, LEANNE DYESS, RONALD GONZALEZ, ALAN GRAFTON, JESSE GRASS, JAMES HOLLAND, ANNA HURST, DON KEENER, NANCY KEENER, M&F BANK, MAGROVE, LLC, MfCHAELMASON, DANIEL MATI'HEWS, WILLIAM MCDOWELL, MICHAEL MOORE, CHARLES MOSS, NIX LAND ACQU1SlTIONS, LLC, OXFORD TOWN PROPERTIES, INC., DONALD W. PAYNE, SHARON R. PAYNE, DONALD M. PAYNE, PAYNE PROPERTIES, LLC, PEGRAM REAL ESTATE INVEST., RENTALS AT MAGNOLIA GROVE, CHARLES P. TILLMAN, JR., BRIAN ROUSSEL, STERLING TRUST CO., TOM B. MOORE TESTAMENTARY TRUST, MELISSA TOWNES, BANK OF COMMERCE, BANCORPSOUIH BANK, CLEVELAND STATE BANK, COMMUNITY BANK, FIRST NATIONAL BANK OF OXFORD, FIRST STATE BANK, MECHANICS BANK,. OXFORD UNIVERSITY BANK, REGIONS BANK, RURAL HOUSING SERVICE, CAVALIARPROPERTY, LLC, MONICA H. JOHNSON, WEST KEMPER FARMS, INC., HOLLY SPRJNGS REALTY GROUP, RICK ELAM, AND BOAZ TAX SALE PROPERTIES

PETITIONER ~ tP I 3 - t::J<I- 3

CAUSE NO.

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RESPONDENTS

ORDER REGARDING PETITION TO ALTER AND AMEND ORIGINAL PLAT AND MAP OF MAGNOLIA GROVE SUBDIVISION

THIS CAUSE came on for hearing on the Petitioner's Petition to Alter and Amend Original Plat

and Map of Magnolia Grove Subdivision and after reviewing the Pleadings and hearing argument of

counsel the Court, after being fully apprised of the premises finds in favor of the Petition and specifically

finds the following:

I. That this Court has jurisdiction of this matter pursuant to Miss. Code Ann. § 19-27-31

(1972);

2. That Plaintiff, Lexon Insurance Company is the surety for a performance bond naming

the City of Oxford, MS as Obligee and Magnolia Grove, LLC as Principal; that Magnolia

Grove, LLC was financially unable to complete the proposed subdivision and the City of

Oxford exercised its rights under the Bond to seek completion of the subdivision; and that

SCANNED

Lexon Insurance Company has an equitable right of subrogat ion to complete ce11ain

requ irements under the performance bond including correcting the plat and therefore

brings th is action to alter and amend the original plat;

3. That Magnolia Grove, LLC owned and developed the following property in Lafayette

County, Mississippi, recorded as Plat C-9 in Plat Cabinet C in the land records of

Lafayette County, Mississippi;

4. That the Defendants are all current prope11y owners or are patties with a direct interest in

the Magnolia Grove Subdivision and have either joined in this petition or have been

served with process notifying them of this action and hearing;

5. That Magnol ia Grove, LLC sought and was granted approva l of the plat for Magnolia

Grove Subdivision by the City of Oxford and County of Lafayette which was filed on

May 27, 2008 in Plat Cabinet Con Slide C-9 in the Chance1y Clerk 's Office of Lafayette

County, Mississippi;

6. That Magnolia Grove, LLC did not construct the geometry of the subdivision that is

shown on the approved plat and the subdivision as constructed differs from the filed plat

in the following ways:

A. Due to its curvature, the as constructed Anchorage Road altered the size and

dimensions of Common Space A, Common Space C, and lots

1,2,3,4,5,6,7, 18, 19,20,2 1 and 22;

B. As a result of the revised geometry of Anchorage Road and the add ition of a new

Lot 1 from a portion of Common Space A, the original lots on the East side of

Anchorage Road were renumbered. On the filed plat, lots I through 17 were East

of Anchorage Road. The subdivision as built has lots I through 18 on the East

side of Anchorage Road;

C. As a result of the alignment change of Anchorage Road, the a lley located

adjacent to the lots number 19 through 27, 39, 40 and 41 was altered. The effect

on the adjoining lots can be found on Exhibit B;

D. The North and East lot lines of lot 49 were altered but the approximate area

remained the same as the planned area. The alteration to lot 49 did not change

the area of neighboring lots 48 and 50 through 54. To account for the change to

lot 49, all of the northern lot lines of lots 50, 51 , 52, 53 and 54 were moved to

the north;

7. That there are no changes to lots 28 through 38, 42 through 47, and57 through 70 and no

alterations to Common Space, B, D or F;

8. That an amended plat detailing the subdivision as built has been shown to this Com1 that

provides a true and accurate plat of the subdivision.

Based on these findings, it is hereby ORDERED and ADJUDGED that:

A. That this Court has jurisdiction over this matter and all interested pa11ies;

B. That the map and plat of Magnolia Grove Subdivision be altered and amended to

reflect the Changes enumerated in paragraph 6 above;

C. That the Protective Covenant of Magnolia Grove Subdivision filed as Instrument

no. 200809449 will remain unchanged and in full force and effect.

D. That the Clerk of this Court and the proper lawful authorities of the City of

Oxford, Mississippi and Lafayette County are authorized to make the proper

notations on said original Maps and Plats of Magnolia Grove Subdivision of

record in Plat Cabinet Con Slide C-9, to the extent of showing that the same has

been altered and amended as shown above;

E. That the Clerk and proper lawful authorities of the City of Oxford, Mississippi

are authorized and directed to accept and file and record the altered and amended

Maps and Plats of Magnolia Grove Subdivision, or any supplemental map or plat

tfrnt may be necessary to comply with this Decree, in the Plat survey records in

the office of the Chancery Clerk of Lafayette County, Mississippi and in the

office of the Clerk of the City of Oxford, Mississippi.

F. That the Clerk of this Court note this Decree on the original Maps and Plats of

said Magnolia Grove Subdivision, and reference made to the altered and

amended Maps and Plats, also known to be. Magnolia Grove Subdivision.

G. That the Clerk of this Court is authorized and directed to record and index this

Court's Decree in the Laud Records of Lafayette County, Mississippi.

So ORDERED and ADJUDGED, on this the_k!d~ qfOctober, 2~13.

Prepared by: LEX ON INSURANCE COMPANY S. KIRK MILAM, MSB# 99637 HlCKMAt"I, GOZA & SPRAGINS, PLLC 1305 Madison Avenue P.O. Drawer 668 Oxford, MS 386.55 (662) 234-4000

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