HomeMy WebLinkAboutContract 52409 CITY SECRETARY
CONTRACT NO.
LEASE AMENDMENT
TO LAKE WORTH RESIDENTIAL LEASE AGREEMENT
This LEASE AMENDMENT TO LAKE WORTH RESIDENTIAL LEASE AGREEMENT
("Amendment') is entered into by and between Wayne Abernathy and Lori Martin ("Tenant") and City
of Fort Worth, a Texas home rule municipal corporation("Landlord").
WHEREAS, Landlord entered into a ground lease ("Lease") on Februga 1, 1982 with the original lessee
under the Lease Agreement for property located at 9500 Watercress Drive, with a legal description more
particularly described as Lot 1, Block 21, Lake Worth Leases Addition, Fort Worth, Tarrant County TX
(the"Leased Premises"), said Lease attached hereto as Exhibit"A";
WHEREAS, through assignment(s), the Lease is now between Landlord and Tenant for the Leased
Premises, and such Lease has a fifty year term ending on January 31,2032;
WHEREAS,pursuant to Section 272.001(h)of the Local Government Code,Landlord is authorized to sell
the property to the person leasing the land for the fair market value of the land as determined by a certified
appraiser;
WHEREAS, Landlord and Tenant desire to effect a sale of the Leased Premises from Landlord to Tenant
under Section 272.001(h) of the Local Government Code for the fair market value of the land, and,
contemporaneously with this Amendment, is entering into a Purchase and Sale Agreement for the purchase
of the Leased Premises by Tenant within eighteen (18)months of the execution of the Purchase and Sale
Agreement; and
WHEREAS, the existing Lease does not provide for terms of disposition of the Leased Premises in the
event of a sale or for the terms of the termination of the Lease in the event of a failure to purchase the
Leased Premises under the Purchase and Sale Agreement, and the parties desire to amend the Lease to
provide for such terms.
NOW THEREFORE, in consideration of the mutual agreements herein and other good and valuable
consideration, the parties agree as follows:
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L RFs ORI,CRE`�ARYRTH,,T
1. Term. The term of the Lease is hereby amended to end upon the closing of the sale of the Leased
Premises under the Purchase and Sale Agreement, which shall occur within eighteen (18) months
after the Amendment Effective Date ("Closing Deadline"). If the closing of the sale of the Leased
Premises has not occurred by the Closing Deadline,this Lease shall expire on the Closing Deadline.
2. Expiration of Lease. Section VII EXPIRATION OF LEASE is hereby deleted in its entirety and
replaced with the following:
"VII.EXPIIATION OF LEASE
A. Any buildings, improvements, additions, alterations, and fixtures (except furniture and
trade fixtures)constructed,placed,or maintained on any part of the Leased Premises during
the lease term are considered part of the real property of the Landlord and must remain on
the Leased Premises and become Landlord's property when the Lease terminates.
B. Before the Lease terminates, Tenant shall remove all personal property, furniture,
machinery,or equipment in,under,or on the Leased Premises.Before the Lease terminates,
Tenant must repair any damage to any buildings or improvements on the Leased Premises
resulting from the removal. Any such items not removed by the lease termination date will
become Landlord's property on that date."
3. Ownership of Improvements. Section X OWNERSHIP OF IMPROVEMENTS is hereby
amended by adding the following sentence at the end of the Section: "Upon expiration of this
Lease through the closing of the sale of the Leased Premises under the Purchase and Sale
Agreement, Tenant shall retain all right, title, and interest in the improvements on the Leased
Premises; however, upon the expiration of this Lease without a closing of the sale of the Leased
Premises under the Purchase and Sale Agreement, all right, title, and interest in the improvements
on the Leased Premises shall vest in Landlord without further payment by Landlord to Tenant for
the improvements, and Tenant shall not have any right to enter upon the Leased Premises."
4. Continued Terms and Provisions. All of the terms and provisions of the Lease between the
parties shall remain in full force and effect except as specifically amended herein.
Executed to be effective as of the date this Amendment is notarized by the City
("Amendment Effective Date").
LANDLORD:
CITY OF FORT WORTH,TEXAS,
a Texas municipal corporation
By:
Jesus J. Chapa, Assistant it Manager
APPROVED AS TO FORM AND
LEG LITY:
/ r
Assistant City AttomeyU
M&C: L-15964
1295: N/A
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ATTEST:
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City 4ecretary "� �c` �`
City of Fort Worth Contract Compliance
By signing I acknowledge that I am the person responsible
for the monitoring and administration of this contract,
including ensuring all performance and reporting requirements.
Nam of Employee: Rick Salazar
Title: Sr. Land Agent
TEN T:
Printe ayne Abernathy Printed Name: Lori Martin
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH,TX
STATE OF TEXAS §
COUNTY OF TARRANT §
s instrument as acknowledged before me on the jV JAday of 2019, by
SUS L,' of the City of For orth, a Texas
municipal cor oration, on behalf of thaf entity.
4�11V pU••.
MARIA S,SANCHEZ _
My Notary ID#2256490
Expires December 19,2021
•.,fl Oc E�•
Notar Public
STATE OF TEXAS §
COUNTY OF TARRANT §
This instrument was acknowledged before me on the 7rday of 2019, by
Wayne Abernathy.
WNotary
3ARDO SALAZAR it
zary Public-State of Taxes
ID #128185792
mm'ission Exp.FEB.25,2022
Notary/Public
STATE OF TEXAS §
COUNTY OF TARRANT §
This instrument was acknowledged before me on the/ 7/day of , 2019, Lori
Martin.
.sae ct Taxes
�=!=S.25,2022 Notary Public
t, ;Ot►F�P4•�'C+ RICARDO SALAZAR II
S # � Notary PubQc,%te of Texas ~�
s Notary ID#128185792wo
FOFFYOF Commlasion Exp.FEB.25,20ZZ iCIAI RECOL�SECRETARY
FT. WORTH,TX
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