HomeMy WebLinkAboutContract 26174 CITY SECRETARY
CON TRACT NO. Lv�7
CONSENT TO ASSIGNMENT OF CONSENT AGREEMENT
STATE OF TEXAS )
KNOW ALL PERSONS BY THESE PRESENTS:
COUNTY OF TARRANT )
THIS CONSENT TO ASSIGNMENT OF CONSENT AGREEMENT ("Consent") is
given to be effective as of , 2000 ("Effective Date"), by the City of Fort
Worth, a municipal corporation of Tarrant County, Texas ("City"), subject to the matters set
forth below.
RECITALS:
A. The City and Worthington Operating Co., a Texas corporation ("WOC"), as
Grantee, entered into that certain Consent Agreement (City Secretary Contract No. 23286), dated
November 10, 1997 and recorded November 14, 1997 in Volume 12979, Page 131, as assigned
by that certain Assignment of Consent Agreement between WOC and Ren Worthington, LLC
("REN") dated August 28, 1999, evidence by that certain Consent to Assignment of Consent
Agreement and effective as of August 28, 1999 and recorded August 27, 1999 in Volume 13982,
Page 396 of the Deed of Records of Tarrant County, Texas ("Agreement"), concerning certain
real property and improvements commonly known as the Renaissance Worthington Hotel
("Hotel"), located at 200 Main Street, Fort Worth, Texas.
B. REN is the owner and manager of the Hotel.
C. REN has informed the City that it intends to sell the Hotel to BCM/CHI
Worthington, Inc., a Maryland corporation, ("Future Owner") as of the Effective
Date, and has requested that the City consent to the assignment of the Agreement
in connection with such sale, which the City is willing to do in accordance with
the terms and conditions set forth below.
D. Simultaneously with the sale from REN to Future Owner, Future Owner intends
to lease the Hotel to BCM/CHI Worthington Tenant, Inc., a Delaware corporation
("Future Tenant"), pursuant to a lease agreement.
E. REN has informed the City that as of the Effective Date, Renaissance Hotel
Management Company, LLC, a Delaware limited liability company, and an
affiliate of REN, will continue to operate and manage the Hotel for the Future
Owner and Future Tenant, pursuant to a management agreement.
CONSENT:
NOW, THEREFORE, in accordance with Section 18 of the Agreement, the City consents
to REN's assignment of its rights and obligations as Grantee under the Agreement to Future
Q-0Q
Will
Owner as of the Effective Date, PROVIDED THAT the assignee agrees to assume all liabilities
and obligations of Grantee under the Agreement and agrees to perform all obligations of Grantee
under the Agreement which are to be performed or which become due.
EXECUTED to be effective as of SV.2000.
ATT19ST: CITY OF FORT WORT
A municipal c oratio f Tarrant County,
Texas
. � By:
City Sec etary Name: Mike Groomer
Title: Assistant City Manager
APPROVED AS TO FORM
AND LEGALITY:
David Yett, City Attorney
Assisiasit City Attorney
STATE OF TEXAS §
COUNTY OF TARRANT §
This instrument was acknowledged before me on the day of 1417L ,
2000, by Mike Groomer, known to me to be the person whose name is subscribed to the
foregoing instrument, and acknowledged to me that he/she executed the same for the purposes
and consideration therein expressed, as the act and deed of the City of Fort Worth, and in the
capacity therein stated.
Notary Public, State o xas
My Commission Expires:
SARAH JANE ODLE
NOTARY PUBLIC
State of Texas
2 tst}' Comm. Exp.Ot•2a-2002
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City of Fort Worth, Texas
"floor And CouncilCommunication
DATE REFERENCE NUMBER G NAME PAGE
9/5/00 **C-18213 06REN 1 of 1
LO
SUBJECT EXECUTION OF A CONSENT TO ASSIGNMENT OF CONSENT AGREEMENT
CONCERNING THE SALE OF THE WORTHINGTON RENAISSANCE HOTEL TO
BCM/CHI WORTHINGTON, INC.
RECOMMENDATION:
It is recommended that the City Council authorize the City Manager to execute a Consent to
Assignment of Consent Agreement as a result of the pending sale by REN Worthington, LLC (REN) to
BCM/CHI Worthington, Inc. for the existing encroachments at the Renaissance Worthington Hotel.
DISCUSSION:
The City of Fort Worth and the Worthington Operating Company, a Texas corporation, as Grantee,
entered into a Consent Agreement (City Secretary Contract No. 23286) dated November 10, 1997,
concerning certain real property and improvements commonly know as the Renaissance Worthington
Hotel located at 200 Main Street. Subsequently, a Consent to the Assignment of Consent Agreement
was executed by the City of Fort Worth, with an effective date of August 28, 1999, when the hotel was
sold to REN, the current manager and owner of the hotel.
REN has informed the City that it intends to sell the hotel to BCM/CHI Worthington, Inc., a Maryland
Corporation. REN has requested that the City execute a Consent to the Assignment of the Consent
Agreement in connection with the sale that involves existing encroachments. The existing
encroachments are canopies and seating along West First Street. According to the original 1997
Consent Agreement, the City must agree to the assignment in order to facilitate the sale.
BCM/CHI Worthington, Inc. agrees to assume all liabilities and to perform all obligations of the Grantee.
Staff has reviewed the proposal and recommends approval.
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that this action will have no material effect on City funds.
MG:I
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
Miko Groomer 6140 APPROVED
Originating Department Head: CITY COUNCIL.
Bob Riley 8901 (from) $E P 5 M
Additional Information Contact: Or .
City Secretary of the
Bob Riley 8901 City of Fort Worth,Texw