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existing northeast right -of -way line of McCarty Lane; <br />THENCE Southwesterly, over and across McCarty Lane, to the northeast line of the City Of San <br />Marcos called 11.5613 acre tract; <br />THENCE Southeasterly, to the southeast corner of the said City Of San Marcos called 11.5613 <br />acre tract; <br />THENCE Southwesterly, to the south corner of the SLF II- McCarty LP called 248.294 acre <br />tract; <br />THENCE Southeasterly, to the east corner of the Walton Texas, LP called 495.23 acre tract, <br />being on the existing northwest right -of -way line of South Old Bastrop Highway; <br />THENCE Southwesterly, to the most southerly corner of the said Walton Texas, LP called <br />495.23 acre tract; <br />THENCE Northwesterly, to east corner of a called 2.164 acre tract, ownership indeterminate; <br />THENCE Southwesterly, to the existing northeast right -of -way line of Centerpoint Road; <br />THENCE Northwesterly, along the said existing northeast right -of -way line of Centerpoint <br />Road to the POINT OF BEGINNING. <br />PART 3 - Approximately 490 acres (0.8 square miles) <br />BEGINNING at the west corner of the Continental Homes of Texas, LP called Lot 1, Block A, <br />Cottonwood Creek Phase 1 Subdivision, being on the existing east right -of -way line of SH 123; <br />THENCE Northeasterly, to the north corner of the William R and Barbara J Selvage called Lot <br />1, Block F, Cottonwood Creek Phase 1 Subdivision; <br />THENCE Southeasterly, to the southwest corner of the A H Mohnke called 86.510 acre tract; <br />THENCE Northeasterly, to the northwest corner of the said A H Mohnke called 86.510 acre <br />tract; <br />THENCE Southwesterly, to the southeast corner of the said A H Mohnke called 86.510 acre <br />tract; <br />THENCE Southeasterly, to the east corner of the Cottonwood Creek JDR, LTD called 132.238 <br />acre tract; <br />THENCE Southwesterly, to the south corner of the said Cottonwood Creek JDR, LTD called <br />132.238 acre tract; <br />