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mixed, and wheresoever situated, including all property
which I may acquire after the execution of this Will,
to my children, O.D. EDWARDS, JR. and PATRICIA CARSON
EDWARDS [sic], in equal shares, per stirpes.
On the date of decedent’s death, decedent owned 8,728.75
acres of land located in San Patricio, Texas (the Sinton Ranch)
and an undivided 50-percent interest in 11,751 acres of land
located in La Salle County, Texas (the Cotulla Ranch). Edwards
and Carson each owned an undivided 25-percent interest in the
Cotulla Ranch.
Prior to decedent’s death, decedent executed written lease
agreements to lease the Sinton Ranch to Edwards. On May 16,
1985, decedent, individually and as trustee, leased the Sinton
Ranch to Edwards for a duration of 1 year, with four 1-year
renewal options. On October 19, 1989, decedent executed a lease
(the existing lease) on the Sinton Ranch with Edwards for a
duration of 1 year, with five 1-year options to renew. The
existing lease was effective on decedent’s date of death and
would have expired on October 31, 1995. The existing lease
provided for ranching lease payments in the amount of $65 per
year per bull or cow, or cow and calf unit, pastured on the land,
with a minimum total payment of $15,300, and a rental payment of
$20 per acre (3,243.06 acres) for farmland. The terms also
prohibited amendment, modification, or alteration unless written
and signed by the party against whom enforcement would be sought.
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Last modified: May 25, 2011