HomeMy WebLinkAboutContract 26348 CITY SECRETARY
CONTRACT NO . t"
STATE OF TEXAS §
COUNTY OF TARRANT § PURCHASE AND SALE CONTRACT
CITY OF FORT WORTH §
THIS PURCHASE AND SALE CONTRACT ("Contract"), made and entered into as of the Eff;,tive Date (as
hereinafter defined) by and between Lake Country Realty, Inc., a Texas corporation, duly acting by and through its
corporate officer ("Seller") and the City of Fort Worth, Texas ("Purchaser"), duly acting by and through its City
Manager;
WITNESSETH:
In consideration of the mutual covenants set forth herein, the parties hereto agree as follows:
Section 1. Sale and Purchase. Seller hereby agrees to sell and convey to Purchaser, and Purchaser hereby agrees to
purchase and accept from Seller, for the Purchase Price (as hereinafter defined) on and subject to the terms and
conditions set forth in this Contract, (1) a certain 1.475-acre tract of land situated in Tarrant County, Texas, as more
particularly described in Exhibit "A" hereto, (2) a certain 1-acre tract of land as more particularly described in Exhibit
"B" hereto, save and except a certain 0.276-acre tract as more particularly described in Exhibit "C" hereto both situated
in Tarrant County, Texas (the two tracts to be purchased to be collectively referred to herein as the "Primary Tracts"),
together with all easements (including, without limitation, all easements held by Seller within the service area of
Certificate of Convenience and Necessity ("CCN")No. 11488, which easements are necessary to the delivery of services
in connection therewith), rights-of-way, licenses, interests, rights and appurtenances appertaining thereto and otherwise
held by Seller; free and clear of all liens, claims, easements, rights-of-way, reservations, restrictions, encroachments,
tenancies, oil, gas or mineral leases and any other encumbrances on the mineral estate and any other encumbrances of
whatsoever nature (herein collectively called the "Encumbrances") except the Encumbrances appearing in the Title
Commitment (as hereinafter defined) that are not cured and that are subsequently waived pursuant to Section 3 (the
"Permitted Encumbrances"). The Primary Tracts and all improvements, easements, rights-of-way, licenses, interests,
rights and appurtenances appertaining thereto, if any, subject to the Permitted Encumbrances, are hereinafter collectively
called the "Property."
Section 2. Purchase Price.
(a) The purchase price ("Purchase Price") to be paid by Purchaser to Seller for the Property is as follows:
(i) Three Hundred Thousand and No/100ths Dollars ($300,000.00), subject to adjustment as hereinafter set forth.
Notwithstanding the foregoing, Purchaser shall, at Purchaser's sole expense, obtain a fair market value appraisal of the
Primary Tracts prepared by Ben Dyess & Associates, 6500 West Freeway, Suite 200, Fort Worth, Texas 76116
("Appraiser"). If the Appraiser determines that the fair market value is equal to or greater than $300,000.00, then the
Purchase Price of the Primary Tracts shall remain $300,000.00, and the Closing of the Primary Tracts shall proceed as
scheduled below. If the Appraiser determines that the fair market value of the Primary Tracts is less than Three Hundred
Thousand and No/100ths Dollars($300,000.00),then Seller shall have the right, which must be exercised within ten(10)
days after receipt of the appraisal, to either(i) terminate this Contract, in which event, the Deposit (hereinafter defined)
shall be returned to Purchaser, and neither party shall have any further rights or obligations hereunder, or(ii) accept the
reduced fair market value and the Purchase Price of the Primary Tracts shall be reduced to the amount set forth in the
appraisal, whereupon the Closing of the sale of the Primary Tracts shall take place within thirty (30) days after such
election is made.
(b) Except as more particularly set forth below, the Purchase Price will be paid pursuant to a wire transfer
at the Closing(hereinafter defined).
(c) Within one (1) business day after Seller returns this Contract to Purchaser fully executed, Purchaser
shall deposit into escrow with Title Company (as defined below)the sum of One Hundred Thousand and No/100 Dollars
($100,000.00) (the "Deposit"). The Deposit will be held in escrow and delivered by Title Company in accordance with
the provisions of this Contract, and if the sale and purchase of the Primary Tracts close under this Cqr rac_tx a eposit
will be applied toward the Purchase Price. The Deposit will be placed in an interest-b ing aceoud�ks!y -U, aC mpany
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as directed by Purchaser, with all interest accruing to Purchaser prior to Closing. Notwithstanding anything in this
Contract to the contrary, $100 of the Deposit will be immediately delivered to and retained by Seller in consideration of
Seller's execution and delivery of this Contract. The term "Deposit" as used hereafter means the Deposit less the $100
described above and delivered to Seller.
Section 3. Title Commitment and Survey.
(a) Within one (1) business day after this Contract has been executed by both parties, Purchaser shall open
an escrow with Commerce Land Title Company, 6048 Jacksboro Highway,Fort Worth, Texas 76135 ("Title Company").
This Contract constitutes joint instructions to the Title Company.
(b) Within ten (10) days after the Effective Date, Purchaser, at Purchaser's sole cost and expense, shall
obtain (i) an Owner's Commitment for Title Insurance ("Title Commitment") from Title Company, which Title
Commitment shall set forth the status of the title of the Primary Tracts and shall show all Encumbrances and other
matters, if any, relating thereto; and (ii) a legible copy of all documents referred to in the Title Commitment, including
but not limited to plats,reservations, restrictions, and easements; and
(c) Within ten (10) days after the Effective Date, Purchaser, at Purchaser's sole cost and expense, shall
obtain a survey ("Survey") consisting of a plat and field notes describing the Primary Tracts. The Survey shall be
prepared pursuant to a current on-the-ground staked survey performed by a registered public surveyor satisfactory to
Purchaser and Title Company. The Survey shall (i)reflect the actual dimensions of and the total number of acres within
the Primary Tracts, (ii) identify any rights-of-way, easements, or other Encumbrances by applicable recording reference,
and(iii) include the Surveyor's registered number and seal,the date of the Survey, and a narrative certificate in form and
substance satisfactory to Purchaser and Title Company. The description of each tract prepared as a part of the Survey
will be used in all of the documents set forth herein that require a description of such tract.
(d) If the Title Commitment or Survey fails to show indefeasible fee simple title to the Property to be in
Seller, free and clear of all Encumbrances, then Purchaser shall give Seller written notice thereof within five (5) days
after receipt of the Title Commitment, Survey, and all documents referred to in the Title Commitment, specifying
Purchaser's objections("Objections"), if any. If Purchaser gives such notice to Seller, Seller shall cure the Objections.
(e) If Purchaser gives notice of Objections and Seller does not cure the Objections, cause the Title
Commitment and Survey to be amended to give effect to matters that are cured, and give Purchaser written notice thereof
within the three(3) day period following receipt of the notice from Purchaser,Purchaser shall have the right either(i)to
terminate this Contract by giving written notice thereof to Seller and Title Company at any time within three(3)business
days after the expiration of such three (3) day period, and, upon such termination, the Title Company shall be instructed
to deliver the Deposit to Purchaser and neither party hereto shall have any further rights or obligations, or (ii) to waive
the Objections and consummate the purchase of the Property subject to the Objections, which shall be deemed to be
Permitted Encumbrances. Notwithstanding the foregoing sentence, if Seller has commenced curing the Objections and is
diligently prosecuting the same, as determined by Purchaser in Purchaser's sole discretion, then Purchaser in Purchaser's
sole discretion may extend the Cure Period for an amount of time Purchaser deems necessary for Seller to cure the same.
Section 4. Termination, Default and Remedies.
(A) IF PURCHASER FAILS OR REFUSES TO CONSUMMATE THE PURCHASE OF THE
PROPERTY PURSUANT TO THIS CONTRACT OR FAILS TO PERFORM ANY OF PURCHASER'S OTHER
OBLIGATIONS HEREUNDER EITHER PRIOR TO OR AT THE RESPECTIVE CLOSINGS FOR ANY REASON
OTHER THAN (i) TERMINATION OF THIS CONTRACT BY PURCHASER PURSUANT TO A RIGHT SO TO
TERMINATE EXPRESSLY SET FORTH IN THIS CONTRACT, (ii) SELLER'S ELECTION NOT TO ACCEPT A
FAIR MARKET VALUE APPRAISAL BELOW $300,000.00, IF APPLICABLE, OR (iii) SELLER'S FAILURE TO
PERFORM SELLER'S OBLIGATIONS UNDER THIS CONTRACT, THEN SELLER, AS SELLER'S SOLE AND
EXCLUSIVE REMEDY, SHALL HAVE THE RIGHT TO TERMINATE THIS CONTRACT BY GIVING WRITTEN
NOTICE THEREOF TO PURCHASER PRIOR TO OR AT THE CLOSING, PARTY
HERETO SHALL HAVE ANY FURTHER RIGHTS OR OBLIGATIONS ' TITLE
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COMPANY SHALL BE INSTRUCTED TO DELIVER THE DEPOSIT TO SELLER AS LIQUIDATED AND
AGREED UPON DAMAGES.
PURCHASER AND SELLER ACKNOWLEDGE THAT THEY HAVE DISCUSSED THE
IMPRACTICALITY AND EXTREME DIFFICULTY OF FIXING THE ACTUAL DAMAGES TO SELLER
IN THE EVENT OF PURCHASER'S DEFAULT. THE PARTIES AGREE THAT THE AMOUNT OF THE
DEPOSIT REPRESENTS A REASONABLE ESTIMATE OF THE ACTUAL DAMAGES SELLER WOULD
INCUR IN THE CASE OF SUCH A DEFAULT BY PURCHASER, AND SELLER INTENDS THAT
PURCHASER BE ABLE TO LIMIT ITS POTENTIAL LIABILITY TO SELLER IN THE EVENT THAT
THIS TRANSACTION FAILS TO CLOSE.
(b) If Seller fails or refuses to consummate the sale of the Property pursuant to this Contract or fails to
perform any of Seller's other obligations hereunder either prior to or at the respective Closings for any reason other than
the termination of this Contract by Seller pursuant to a right so to terminate expressly set forth in this Contract or
Purchaser's failure to perform Purchaser's obligations under this Contract,then Purchaser shall have the right either(i)to
enforce specific performance of Seller's obligations under this Contract, (ii) to terminate this Contract by giving written
notice thereof to Seller prior to or at the Closing whereupon the Title Company shall be instructed to deliver the Deposit
to Purchaser and neither party hereto shall have any further rights or obligations hereunder, or(iii) to exercise any other
right or remedy Purchaser may have at law or in equity by reason of such default, including but not limited to, the
recovery of attorneys' fees incurred by Purchaser in connection therewith.
Section 5. Closing.
(a) The closing("Closing")of the sale of the Primary Tracts by Seller to Purchaser shall occur in the office
of the Title Company, on or before November 15 2000. ("First Closing Date"), except as such date may be adjusted
pursuant to Section 2(a) above. Purchaser shall give Seller advance notice of the date and time for the Closing of the
Primary Tracts.
(b) At the Closing,the following shall occur,all of which shall be deemed concurrent conditions:
(1) Seller shall deliver or cause to be delivered to Purchaser the following:
(i) At the Closing of the Primary Tracts, at Seller's sole cost, a General Warranty Deed
("Deed") in the form attached hereto as Exhibit "D," fully executed and acknowledged by Seller,
conveying to Purchaser indefeasible fee simple title to the Property.
(ii) At Seller's sole cost, an Owner Policy of Title Insurance ("Owner Policy") for the
Property issued by Title Company to Purchaser in the amount of the portion of the Purchase Price
insuring that, after the completion of the applicable Closing, Purchaser is the owner of indefeasible fee
simple title to the tract conveyed, subject only to the Permitted Encumbrances and the standard printed
exceptions included in a Texas Standard Form Owner Policy of Title Insurance; provided, however, the
printed form survey exception shall be limited to "shortages in area," the printed form exception for
restrictive covenants shall be marked "none of record" except these restrictive covenants that are
Permitted Encumbrances,there shall be no exception for rights of parties in possession,and the standard
exception for taxes shall read: "Taxes for the year[of the applicable Closing] and subsequent years not
yet due and payable."
(iii) An affidavit in the form acceptable to Title Company from Seller pursuant to Section
1445 of the Internal Revenue Code and/or applicable regulations relating thereto stating(a)that Seller is
not a foreign person, (b)the Seller's name, U.S. taxpayer identification number and address (home
address for individuals,office address for entities), and(c)such other information as may be required by
Section 1445 of the Code or the Regulations thereunder. An executed counterpart of this affidavit may
be furnished to the Internal Revenue Service at or following the repective Closin .
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(iv) Such other documentation reasonably and customarily requested by Title Company or
otherwise necessary to effect the transfer of the Property.
(2) Purchaser, at Purchaser's sole cost and expense, shall deliver or cause to be delivered to Seller
via wire transfer an amount equal to that portion of the previously unpaid Purchase Price allocable to the tract
being conveyed.
(3) Purchaser and Seller shall equally pay all closing costs, escrow and recording fees. In addition,
Purchaser shall pay, outside of closing,all fees of Purchaser's attorneys and consultants. Seller shall pay, outside
of closing,all fees of Seller's attorneys and consultants.
(c) Ad valorem and similar taxes and assessments relating to the Property shall be prorated between Seller
and Purchaser as of the Closing Date, based on estimates of the amount of taxes that will be due and payable on the
Property during the calendar year in which the Closing Date occurs, which estimates shall be deemed final and binding.
Seller shall be responsible for the payment of all ad valorem and similar taxes applicable to the personal property, which
obligation shall survive the applicable Closing.
(d) Upon completion of each Closing, Seller shall deliver to Purchaser actual possession of the applicable
tract and other Property free and clear of all tenancies of every kind and parties in possession with all parts of the
Property in substantially the same condition as on the date hereof.
Section 6. Conditions to Performance by Purchaser.
(a) Notwithstanding anything to the contrary contained herein, until Closing of the Primary Tracts, the
following matters are conditions precedent to Purchaser's obligations under this Contract:
(1) Purchaser's being satisfied in Purchaser's sole discretion that no portion of the Property is
subject to any restriction, law, rule, regulation, order, or ordinance of any federal, state, county, or civil
governmental body or agency that would prohibit or reduce the use of any portion of that Property for its
intended purposes.
(2) Purchaser's being satisfied in Purchaser's sole discretion as to the feasibility of obtaining any
reasonable off-site easements which may be necessary to permit Purchaser's contemplated use of the Property.
(3) Seller's acquisition and execution of any and all documents and applications which may be
reasonably required and requested by Purchaser or Title Company in satisfying the conditions to performance
by Purchaser, understanding that no such documents or applications shall impose any additional obligations
upon the Seller except as a condition to the continued use of the Property for its current purposes.
(b) In the event that the Purchaser is not satisfied in Purchaser's sole discretion as to all of the conditions
precedent described in Section 6(a) hereof and does not give notice to Seller by the applicable Closing of Purchaser's
intent to proceed to Closing, Purchaser shall be deemed to have terminated this Contract, and upon such termination,
neither party shall have any further rights or obligations hereunder.
(c) The provisions of this Section 6 shall control all other provisions of this Contract.
Section 7. Compliance. Purchaser has been and is hereby advised that Purchaser should have the abstract
covering the Property examined by an attorney of Purchaser's selection or that Purchaser should be furnished with a
policy of title insurance. By Purchaser's execution of this Contract, Purchaser acknowledges that Purchaser has been so
advised in compliance with the Texas Real Estate License Act.
Section 8. Tests. Purchaser, at Purchaser's sole cost and risk,shall have the right to go on to the Property and to
make inspections, surveys, test borings, soil analyses, and other tests and surveys t ereom -If on
n e roperty is
not consummated pursuant hereto, Purchaser shall restore or cause to be restored t e surface:of the< o.. to as near
the condition thereof existing prior to any entry by Purchaser as may be practicable.
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Section 9. Notices.
(a) Any notice required or permitted to be given hereunder by one party to the other shall be in writing
and(i)delivered in person to the address set forth hereinbelow for the party to whom the notice is given, (ii) delivered in
person at the Closing (if such party is present at the Closing), (iii) placed in the United States mail, return receipt
requested, addressed to such party at the address hereinafter specified, or (iv) deposited into the custody of Federal
Express Corporation to be sent by Federal Express Overnight Delivery, addressed to such party at the address hereinafter
specified.
(b) The address of Seller for all purposes under this Contract and for all notices hereunder shall be:
Ms.Pat Craus, President
Lake Country Realty, Inc.
P.O. Box 136189
Fort Worth, Texas 76136-018
with a copy to: 6-
FANNING,
FANNING,HARPER&MARTINSON
ATTORNEYS AND COUNSELORS
THIRD FLOOR PRESTON COMMONS WEST
8117 PRESI ON ROAD
DALLAS,TEXAS 75225
(c) The address of Purchaser for all purposes under this Contract and for all notices hereunder shall be:
City Manager
1000 Throckmorton
Fort Worth,TX 76102
Attn: Dale A. Fisseler,P.E., Director
Fort Worth Water Department
with a copy to:
Dirk E. Eshleman
Kelly,Hart& Hallman,P.C.
201 Main Street
Suite 2500
Fort Worth, Texas 76102
(d) From time to time either party may designate another address within the 48 contiguous states of the
United States of America for all purposes of this Contract by giving the other party not less than thirty (30) days'advance
written notice of such change of address in accordance with the provisions hereof.
Section 10. Entire Agreement. This Contract (including the exhibits hereto) contains the entire agreement
between Seller and Purchaser, and no oral statements or prior written matter not specifically incorporated herein shall be
of any force and effect. No variations, modifications, or changes hereof shall be binding on either party hereto unless set
forth in a document executed by such parties or a duly authorized agent, officer or representative thereof.
Section 11. Representations of Seller. In addition to the representations and warranties contained in other
paragraphs of the Contract, Seller hereby makes the following representations and warranties. Such representations and
warranties shall survive the Closing regardless of what investigations Purchaser shall have made with respect thereto
prior to the Closing, each of which individual representation and warranty (i) is material and being relied upon by
Purchaser and(ii)is true in all respects as of the date hereof and shall be true in all respects as of the Closing:
EN
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(a) This Contract and all documents to be executed and delivered by Seller at Closing are and at the
Closing will be duly authorized, executed, and delivered, and are and at the Closing will be legal, valid, and binding
obligations of Seller, and do not and at the Closing will not violate any provisions of any agreement to which Seller as a
party or to which Seller is subject. Seller is duly organized, validly existing and in good standing under the laws of the
state in which it was organized and is authorized to sell the Property.
(b) There are no and at the Closing Date shall be no existing or pending litigation or claims with respect
to the Property and, to the knowledge of Seller, there are no and at the Closing Date shall be no such actions, suits,
proceedings,or claims threatened or asserted.
(c) No person, firm,corporation or other entity has or at the Closing Date shall have any right or option to
acquire the Property, or any part thereof, from Seller, nor has Seller heretofore assigned, pledged, or encumbered its
interest in all or any portion of the Property.
(d) Seller has not and at the Closing Date shall not have received any notice of any violation of any
ordinance,regulation, law or statute of any governmental agency pertaining to the Property or any portion thereof.
(e) There are no notices, violations, disputes, orders, investigations, actions, suits, proceedings,
arbitrations, decrees or judgments (pending or threatened) against Seller relating to any conditions, matters or things
affecting the Property or Facilities, Seller's right, title, estate or interest therein, thereto or thereunder, or Purchaser's
reasonably anticipated use thereof.
(f) There are no unpaid or outstanding taxes or assessments, any tax exemptions or abatements or any
other payments or liabilities, including roll-back taxes or assessments or debt issues affecting or relating to the Property
or Facilities, or the ownership, development, operation or use thereof, or interest therein, which are due or payable, or
which as a result of the contemplated transactions would become due or payable.
Section 12. Assigns. This Contract shall inure to the benefit of and be binding on the parties hereto and their
respective legal representatives, successors, and assigns. Neither party may assign its rights hereunder at any time at or
prior to Closing to any other person or entity.
Section 13. Time for Execution and Effective Date. If Seller has not executed and returned a fully executed copy
of this Contract to Purchaser by 5:00 p.m., Fort Worth, Texas time, on October 27, 2000, this Contract shall be null and
void. The date on which this Contract is executed by the last to sign of the Seller and Purchaser shall be the "Effective
Date"of this Contract.
Section 14. Time of the Essence. Time is of the essence of this Contract.
Section 15. Destruction, Damage, or Taking Prior to Closing. Prior to Closing, risk of loss with regard to the
Property shall be borne by Seller. If, prior to Closing, the Property is destroyed or damaged, or becomes subject to a
taking by virtue of eminent domain, to any extent whatsoever, Purchaser may, in Purchaser's sole discretion, terminate
this Contract,and neither party hereto shall have any further rights or obligations hereunder.
Section 16. Terminology. The captions beside the section numbers of this Contract are for reference only and
shall not modify or affect this Contract in any manner whatsoever. Wherever required by the context, any gender shall
include any other gender,the singular shall include the plural, and the plural shall include the singular.
Section 17. Governing Law. THIS CONTRACT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF TEXAS, WITHOUT REGARD TO ITS CHOICE OF LAW PROVISIONS. VENUE SHALL
LIE EXCLUSIVELY IN TARRANT COUNTY,TEXAS.
Section 18. Severability. If any provision of this Agreement is held to be illegal, invalid or unenforceable under
present or future laws, such provision shall be frilly severable and this Agreement shall be construed and enforced as if
such illegal, invalid or unenforceable provision is not a part hereof, and the remaining provisions hereof shall remain in
full force and effect. In lieu of any illegal, invalid or unenforceable provision he em,there shall be automatically
431094.1 6
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as a part of this Agreement a provision as similar in its terms to such illegal, invalid or unenforceable provision as may
be possible and be legal,valid and enforceable.
Section 19. Construction. The parties acknowledge that each party and its counsel have reviewed and revised this
Contract and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting
party shall not be employed in the interpretation of this Contract or any amendments or exhibits hereto.
Section 20. Foreign Person Status. If Seller is not a "foreign person," as defined in federal Foreign Investment in
Real Property Tax Act of 1980 and the 1984 Tax Reform Act, as amended ("Federal Tax Law"), then at the Closing,
Seller will deliver to Purchaser a certificate so stating, in a form complying with the Federal Tax Law. If Seller is a
"foreign person" or if Seller fails to deliver the required certificate at the Closing, then in either such event the funding to
Seller at the Closing will be adjusted to the extent required to comply with the withholding provisions of the Federal Tax
Law; and although the amount withheld will still be paid at the Closing by Purchaser, it will be retained by a mutually
acceptable escrow agent for delivery to the Internal Revenue Service together with the appropriate Federal Tax Law
forwarding forms (and with copies being provided both to Seller and to Purchaser). The following parties are hereby
approved as mutually acceptable escrow agents in the event that withholding is warranted in accordance with the
immediately preceding sentence (listed in order of decreasing preference): the Title Company, the Purchaser's
"independent CPA" (i.e., a certified public accountant who is associated with an independent CPA firm), the Purchase's
"outside counsel" (i.e., a licensed attorney who is associated with an independent law firm), the Seller's "independent
CPA,"the Seller's"independent attorney," and a mutually acceptable financial institution.
Section 21. Internal Revenue Code Section 6045. Seller and Purchaser hereby acknowledge that the Tax Reform
Act of 1986 requires the entity closing the transaction to report the terms of any real estate transaction to the Internal
Revenue Service. Seller and Purchaser agree that they will request the Title Company to be the closer of the transaction
for purposes of I.R.C. §6045. Seller hereby agrees to execute and deliver to the Title Company at Closing any
certificates or other documentation required by the Title Company in order to comply with these requirements.
Section 22. Notice to Texas Natural Resource Conservation Commission. Purchaser, at Purchaser's sole cost and
expense, shall deliver to the Texas Natural Resource Conservation Commission ("TNRCC") all required notices with
respect to the change in ownership, conveyance of the Property and the transfer of deposits and obtain any approval, if
required, of same. Seller shall cooperate and assist Purchaser to the extent reasonably necessary in obtaining such
consents or approvals.
Section 23. Further Assurances. Seller shall execute such other documents reasonably requested by Purchaser to
effect the conveyance of the Property, the transfer of the rights appurtenant thereto, and the satisfaction of the other
covenants of Seller herein,which obligation shall survive the Closing. If Seller fails to do so within three(3)days of the
applicable request, Purchaser may do so as Seller's attorney-in-fact, which power of attorney is irrevocable and coupled
with an interest.
Section 24. Covenant to Construct. Within ninety(90)days after the Closing Date, Purchaser shall, at Purchaser's
sole expense, construct a brick wall on the east boundary of that certain 0.276-acre tract as more particularly described in
Exhibit"C", pursuant to the general design and construction parameters set forth on Exhibit "E" attached hereto. After
completion of construction, Seller shall be solely responsible for the repair, maintenance, and/or replacement of the wall,
if required.
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IN WITNESS WHEREOF,this Contract is hereby executed as of the Elle 've Date.
ATTEST: �!) CITY O FO H, TEXAS
By: 6zi w By:
'City retaryName: �-�,►�� �,.� , .
A5-,TTCityManager
APPROVED AS TO FORM: Date Executed "We'74 ✓h "' , 20 QQ
City Atto "PURCHASER"
Date: 10 1311au
n LAKE COUNTRY REALTY,INC.,
T r a Texas corporation
Contract Authorization
Date Name: �7-,�ici,4 L',PAd!-,
Title: I;2�s JDE.cJT
Date Executed: to A-T' ,20 e c '
"SELLER"
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, THE UNDERSIGNED AUTHORITY,on this day personally appeared
p City Manager of the City of Fort Worth,a municipal corporation, known to me to be the person and
officer whose name is subscribed to the foregoing instrument and acknowledged to me that the same was the act of the
said CITY OF FORT WORTH, TEXAS, a municipal corporation, that he was duly authorized to perform the same by
appropriate resolution of the City Council of Fort Worth, and that he executed the same as the act of the said City for the
purposes and consideration therein expressed and in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this the Jl Oday of /Jew,Khel , 20�.
- ---------------------
,'•" PATRICIA,A. GARCIA otary Public, State of Texas
�
moi* NOTARY PUBLIC
State of Texas Notary's Typed or Printed Name
Comm. Ex 03-31-2001
My Commission expires 3131101
IIlo tl'�L"�rl�i i Up ��.%•So
431094.1 8
STATE OF TEXAS §
COUNTY OF TARRANT § '
BEFORE ME,THE UNDERSIGNED AHO TY,o this day personally appeared
,as , C of LAKE COUNTRY REALTY,
INC., a Texas corporation, on behalf of said corporation, known to me to be the person and officer whose name is
subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and
consideration therein expressed, in the capacity therein stated, and as the act and deed of s ' corporation.
GIVEN UNDER MY HAND ANJOEAL OF OFFICE this the- day of L6C�A20 Cly
eta,
O'
No ary Public, Stateexas
Notary's Typed or Printed N e
h �J My Commission expires:
431094.1
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EXHIBIT
12
431094.1
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Lot A, mock 1, SE=.r HARBOR, an Addition to
Tarrant County, Texas, according to the Plat f
thereof recorded in Vol. 1613••110, Pg. 21, P!ill.
Records, Tarrant County, Tez;c;.
.... .. r
ixKxa;tlnT'
A,;,K:B;'6.'ASS0CIATES � Vertl[y that this is`a true'agd
eccorato reprosentation.o[ this-.,
1,G,1.5A:Jay Dird''Ln' eurvey as made on'thn ground hqd};
Spri'ngtown; 'rexas• that there aro'no visible,0aea=.1
:2:21=5086 menta or encroachments oxcepE"pe-,`
shown.
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EXHIBIT "C"
N1�$1
13
431094.1
i
Lar a.aL= i
dn'Ja MAD /
TIMBER OAKS S 84.13,37" E SECRET WA"
DRIVE p 12z.ss
may' OO P.O.B.
107 CID, /
m
X-OR , a'al04.LAE PER no
\
PORTION OF
\\ LOT A, BLOCK 1
SECRET HARBOR
\ YVL!aa-tia..o. 21. P.R.TLT.
�. \\ N
� \ O
\ rs'dwwa[tua[7o vUe rW
\ to
\ Q
Lar t,BLOC%2 \ 00
\\ 43.25
\ S 89'00'00" W
\\
3!30
N � 0
s �& � Z ,I9d
i E
Dn=pticm tar a partioo d lat A!leek 1. HLWk in 1ditoa to'.Iwmt Coot?,
Tena,aeoosdly to the Pit!Land ro dad to 7.L 29-tN,N.21.M R.. .Tarrut
Want?,Tana,ail Lot L M ck I Wn namdod D YoL 7t 7y, LM D.d[brB'u
Tarraat CotmtT,Snr.
ColoaX=from a 6/B"boa Iamd is Lb.400tb load But CS+L Boal aid iraa bei"fa Lba
Hartb.aat amaar N LA a.Mock I od tY mod NaKkal?Bartbsad coma d oak lot A Slack 1.
lbmes-"9'370".. 144.31 feet b e 5/6'¢oa f=W tot tL.PCW 07 EIMQMO
?MCI 7 84'11'Tr C BOAT hat Lo a**iron ut
TB➢1Q]06'6]'02'1.U-U hat to alnatlra 611.04 aortal pool far Yyla Y-1—like;
?MCI]a1'ocroor T,rttb Tad dation SQ-o4 1025 hat
TMC3 7 67100'00'T.cootmmn/"a aid-IMCm Sam,60.00 194L
TEMa Y 11'00'21'Y.alb tba co=on W d aald Lot l Bhek I and lot L MwA L 80.71
hat L.u Y ad toaod In tba Soatnaaalsly aao d a.6-4rag at Wand d M=bar OJ7 Cr K
TEVM2 aatb acid cel do c bm4 ndk a earn b tba Wt>hz.radius a 4100 and site
teWe aatla h 5!'46'01'and Tbaaa chord b- a N.26'OWL 39.92 rent sem(as arc lw4Q
at 4LJ7 het to■6/6'4.unk
Tli=]as-lriT 3.wn me SootL"be of aatd fat 6.Bled!1.42.98 fag to 0a MW
0 B[MOM sad—fal"M 6276 a1 ao aaa or 12 WA t pawn fel
/�jSCAU 1'=20' 'E. OF rF+
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OUG HURT s.Me N+o AzMM4TZ M7RCSEWAT M d
ASSOCIATE'S, LLCTMK SURAS "DE OC ow 11[co"o.
92J l H" 199
SPRIN=Wl TXW' 76082 ~0 5 n n
z2o-56W ME n0—ZS78 sus I{ °`t� / /
96181-B � �!]U/Ii' k � 03 AUG 2000
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FIELD NOTES
Description for a portion of Lot A, Block 1, SECRET HARBOR, an Addition to Tarrant County,
Texas, according to the Plat thereof recorded in Vol. 388-118, Pa. 21, Plat Records, Tarrant
County, Texas, said Lot A, Elock 1 being recorded in Vol. 12236, Pg. 1275, Deed Records,
Tarrant County, Texas.
COMMENCING from a 5/8"iron found in the South line of Boat Club Road, said iron being for the
Northeast corner of Lot 6, Block 1 and the most Northerly Northwest corner of said Lot A, Block 1,
thence S.39033'09"W., 144.37 feet to a 5/8"iron found for the POINT OF BEGINNING;
THENCE S 84°113'37"E, 80.04 feet to a Yz"iron set;
THENCE S 05053'02"W, 84.54 feet to elevation 649.00, normal pool for Eagle Mountain Lake,-
THENCE
ake;THENCE S 89°00'00"W,with said elevation 649.00,43.25 feet;
THENCE S 67'00'00"W, continuing with said elevation 649.00,60.00 feet;
THENCE N 21000'21" W, with the common line of said Lot A, Block 1 and Lot t, Block 1, 90.72
feet to an "X"cut found in the Southeasterly fine of a cul-de-sac at the end of Timber Oaks Drive;
THENCE with said cul-de-sac being with a curve to the left whose radius is 45.00 and whose
central angle is 52°40'04" and whose chord bears N.25143'24"E., 39.92 feet being an arc length
of 41.37 feet to a 5/8"iron found;
THENCE S 84013'37" E, with the Southerly line of said Lot 6, Block 1, 42.92 feet to the POINT
OF BEGINNING and containing 0.276 of an acre or 12,028.91 square feel.
00635
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EXHIBIT "D"
GENERAL WARRANTY DEED
STATE OF TEXAS §
§ KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF TARRANT §
THAT, LAKE COUNTRY REALTY, INC., a Texas corporation ("Grantor"), for and in consideration of the
sum of Ten and No/100 Dollars ($10.00) cash and other good and valuable consideration to Grantor paid by the CITY
OF FORT WORTH, TEXAS, a municipal corporation, whose mailing address is 1000 Throckmorton, Fort Worth,
Tarrant County, Texas 76102 ("Grantee"), the receipt and sufficiency of which are hereby acknowledged and confessed,
has GRANTED, BARGAINED, SOLD and CONVEYED and by these presents does GRANT, BARGAIN, SELL and
CONVEY unto Grantee, that certain tract of land in Tarrant County, Texas, described in Exhibit "A-1" attached hereto
and incorporated by reference, together with all improvements thereon and all rights and appurtenances appertaining
thereto, any right, title and interest of Grantor in and to any easements, rights-of-way, licenses, interests, rights and
appurtenances appertaining to the aforementioned tract and any land lying in any alleys or strips or gores of land
adjoining or abutting the aforesaid tract or in and to any land lying in the bed of roads or streets, open or proposed,
adjoining or abutting the aforesaid tract, if any(herein collectively called the "Property").
TO HAVE AND TO HOLD the Property,together with all and singular the rights and appurtenances thereunto
in any wise belonging unto Grantee, its legal representatives, successors and assigns, to WARRANT AND FOREVER
DEFEND all and singular the Property unto Grantee, its legal representatives, successors and assigns, against every
person whomsoever lawfully claiming or to claim the same or any part thereof.
WITNESS THE EXECUTION HEREOF on the ;�� day of -r ), 20 cc but to be effective as of
the_ / Y' day of lVe����y�g�,� ,20 cQ
LAKE COUNTRY REALTY, INC.,
a Texas corporation /� )
By:
Name:
Title: E5/ ,d T
Date Executed: io ,20.0o
"SELLER"
STATE OF TEXAS §
COUNTY OF TARRANT §
/1
BEFORE ME, THE "ERSI�NED�UTHORITY, on this day personally appeared
as c(`a-i 1k of LAKE COUNTRY REALTY, INC., a Texas
corporation, on behalf of said corporation, known to me to be the person and officer whose name is subscribed to the
foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein
expressed, in the capacity therein stated, and as the act and deed of said corporation.
431094.1 14
GIVEN UNDER MY HAND AND SEAL OF OFFICE this the day of , 20()C .
Nota ublic, Sate of exas
TLNotary's Typed or Printed N
My Commission expires:
g c�11 u
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ST
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431094.1 15LoU
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EXHIBIT "A-1"
Property Description
[TO BE ATTACHED BY GRANTOR]
s � �OrG
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,Rub U3 UU 1U: 56a Renee Mitchell 817-22U-2678 p• 2
FIELD NOTES
Description for a portion of Lot A, Block 1, SECRET HARBOR, an Addition to Tarrant County,
Texas, according to the Plat thereof recorded in Vol. 388-118, Pg. 21, Plat Records, Tarrant
County, Texas, being recorded in Vol. 12236, Pg. 1275, Dead Records, Tarrant County, Texas
and all of that certain 1.457 acre tract of land recorded in Vol. 12236, Pg. 1264, Deed Records,
Tarrant County,Texas.
BEGINNING at a 518" iron found in the South line of Boat Club Road, said iron being for the
Northeast corner of Lot 6, Block 1 and the most Northerly Northwest corner of said Lot A, Block 1;
THENCE S 84013'37" E, with the South line of said Boat Club Road, 200.30 feet to a 518" iron
found for the Northeast comer of said Lot A, Block 1;
THENCE N 37030'00" E, 6.08 feet to a 518" iron found for the Northwest corner or said 1.457 acre
tract;
THENCE S 84013'37" E, with the South line of said Boat Club Road, 195.66 feet to a 1" iron
found;
THENCE S 00057'41"W, 181.99 feet to a 1"pipe found;
THENCE S 00045'00"E, 17.80 feet to elevation 649.00, normal pool for Eagle Mountain Lake;
THENCE with elevation 649.00 the following calls:
N 70028'51"W, 84.18 feet;
S 47°40'45"W, 67.27 feet;
N 73°13'07"W, 70.82 feet;
S 69°18'17"W, 56.34 feet;
S 85031'30"W, 30.20 feet;
S 51019'41"W, 24.09 feet;
S 89°09'45"W,23.18 feet;
N 56046'52"W, 79.39 feet;
N 32010'40"W, 12.35 feet;
N 82018'34"W,3.34 feet;
N 6057'00"E, 22.84 feet;
N 76043'00"E,4.07 feet;
S 89°00'00"W,41.75 feet;
THENCE N 05953'02'E,84.54 feet to a'/2"iron set;
THENCE N 84013'37"' W, 80.04 feet to a 5/8" iron found for the Southeast corner of said Lot 6,
Block 1;
THENCE N 39033'09" E, with the common line of said Lot 6, Block 1 and Lot A, Block 1, 144.37
feet to the POINT OF BEGINNING and containing 2.179 acres of land or 94,900.97 square feet.
00635A
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M
0
EXHIBIT"E"
Design and Construction Parameters
Ir
431094.1 17
10-24-200 4:04AM FROM CAUBLE HOSKINS ARCH. 817 336 6019 P. 1
• ���OX. 2n7� � -
�t7Aq��..
¢fel«- p#�. � �`-v rJ {-�i Git• .1
f �
H JGf o N THS tj Mz:� F- PM-T t..1
�vsF-� /ter r KEV,
AL-1- G t;�A V OS WIZ-1- e
f"'Ecloo ED
City of Fort Worth, Texas
A or And aunc�l
Co
mmunicatian
.
DATE REFERENCE NUMBERLOG NAME PAGE
10/10/00 P-9205 60CREST----] 1 of 2
SUBJECT AUTHORIZE THE PURCHASE OF CREST POINT WATER SUPPLY CORPORATION
AND CCN AND APPROVAL OF ACQUISITION OF PROPERTY LOCATED ALONG
BOAT CLUB ROAD FOR EXPANSION OF WATER AND WASTEWATER FACILITIES
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the purchase of the Crest Point Water Supply Corporation and the Certificate of
Convenience and Necessity (CCN) for the Crest Point subdivision from Crest Point Water Supply
Corporation for a sum of$125,000; and
2. Authorize the acquisition of 2.179 acres located at and adjacent to 9241 Boat Club Road for
expansion of wastewater facilities from Lake Country Realty, Inc. for a sum not to exceed $300,000;
and
3. Authorize the acceptance and recording of the appropriate instruments.
DISCUSSION:
Crest Point subdivision is located just northwest of the recently annexed Tarrant County Municipal
Utility District No. 1 (TCMUD). The Crest Point area is within the Water Department's comprehensive
plan for expanding its water and wastewater utility system into northwest Tarrant County as continuing
development occurs in that area. After lengthy negotiations, Crest Point Water Supply Corporation has
agreed to sell the water system, including the well, the tanks, the land on which the well is located, and
the water CCN to the City. The Water Department plans to extend water lines into the area to connect
Crest Point to the City's water distribution system. Crest Point Water Supply Corporation has agreed to
continue to own and operate the system, in exchange for the revenue to be generated from its current
customers, until the water line is complete and the system can be connected to the Fort Worth system.
Through the annexation of the TCMUD, the City acquired TCMUD Lift Station No. 9, located along Boat
Club Road. Lake Country Realty, Inc. owns the property where the lift station is located and authorized
the TCMUD to construct it. However, no interests in land were granted to the TCMUD. With continued
development occurring north of the area, the need to upgrade and expand the lift station and
associated facilities at the site has resulted in the need to acquire the property on which the lift station is
located and enough additional property to allow for future expansions.
The Water Department has negotiated with Lake County Realty, Inc., the owner of the property, to
purchase the property for the lesser of $300,000 or an amount to be determined after an independent
appraisal.
City of Fort Worth, Texas
ayor find Council Communication
DATE REFERENCE NUMBER I LOG NAME TPAGE
10/10/00 P-9205 60CREST 2 of 2
SUBJECT AUTHORIZE THE PURCHASE OF CREST POINT WATER SUPPLY CORPORATION
AND CCN AND APPROVAL OF ACQUISITION OF PROPERTY LOCATED ALONG
BOAT CLUB ROAD FOR EXPANSION OF WATER AND WASTEWATER FACILITIES
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that funds are available in the current capital budget, as appropriated, of
the Water Commercial Paper Fund.
MG:k
T
t
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
ARTMWED
Mike Groomer 6140 3�+`1 Y COUNCIL
Originating Department Head:
010T 10 2000 '
Dale Fisseler 8207 (from)
P160 539120 060160151270 $125,000.00
Additional Information Contact: P170 541100 030170280030 $300,000.00 +
�."«�:f:x�l:�:•sf:ita
Dale Fisseler 8207 --