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Home My WebLink AboutContract 37039COt� ��RE��RY REINSTATEMENT OF LEASE AND SECOND AMENDMENT TO LEASE AGREI This Reinstatement of Lease and Second Amendment to Lease Agreement is made ands entered into in Fort Worth, Tarrant County, Texas, by and between the City of Fort Worth, a home -rule corporation, LESSOR, acting herein by and through its duly authorized Assistant City Manager and Justin Waldrep, LESSEE. WHEREAS, the lease between Lessor and Lessee for the property located at Lot 15, Block 21, Lake Worth Leases (the "Lease"), attached hereto as Exhibit "A" and incorporated herein by reference, was cancelled by City Council Action on October 23, 2007 for nonpayment of rent, sanitation and taxes; WHEREAS, Lessee has requested that the Lease be reinstated and has brought the rent, sanitation and taxes current; WHEREAS, Lessor, by City _Council Action on December 18, 2007, has approved the reinstatement of the Lease; and WHEREAS, upon reinstatement, Lessor and Lessee agree that the Lease shall be amended in accordance with the terms set forth herein. AGREEMENT In consideration of the mutual covenants, representations, warranties and agreements contained herein, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Lessor and Lessee agree as follows: 1. The Lease shall be reinstated for the remainder of the Lease term, which will expire on January 31, 2032. 2. The Lease is hereby amended as follows: a. Secticn III(A) shall be amended to read: "A. pay annual rent to the City of Fort Worth in the sum of $188.00, said rent due and payable on February 29 of each calendar year." b. Section III shall be amended to add Paragraph N., to read: "N. keep the premises clean, well maintained, free from debris, trash, excess junk and junk vehicles, and the grass, trees, shrubs trimmed and maintained." V��V�61� �,�VV�� C�4-�) �-08 A0�3: 1 � I N c. Section VII is hereby deleted in its entirety, and shall be amended to read: "VII. EXPIRATION OF LEASE [DELETED]" d. Section VIII shall be replaced in its entirety to read: "A. In the event the Lessee is in arrears in the payment of rents, or other amounts agreed to be paid under the terms of this lease, or in the event the Lessee has faild to perform any other obligation under this lease, this lease may be immediately terminated at the sole discretion of Lessor. B. In the event rentals to be paid under the terms of this lease is not paid when due, and the Lessor elects not to terminate this lease, an additional late penalty of 1.5% per month shall be added to the amount due. C. Upon termination of this lease or expiration of the term of this lease, Lessee shall be entitled and authorized to remove from the premises all items of personal property belonging to Lessee not permanently affixed to the realty and all structures and improvements within 90 days from the date of the lease termination by default, and shall vacate the leased land at the end of said 90 days. All such property not removed within 90 days shall become the property of the City." 3. LESSEE acknowledges and agrees that the Option to Purchase and Purchase Agreement became void upon the cancellation of the Lease By City Council action on October 23, 2007 and that the Option to Purchase and Purchase Agreement will not be reinstated in conjunction with the Lease reinstatement Renewal term; and 4. All other terms and conditions of the LEASE are ratified and remain in full force and effect. If any provision of the LEASE contradicts this Agreement, the Agreement shall control. [SIGNATURES APPEAR ON FOLLOWING PAGE] G EXECUTED this day of LESSEE J�'stin Waldrep -1J C" ram_ � "l.� �� V APPROVED AS TO FORM AND LEGALITY: "Assistant City ATTEST: �b `�y�- City cretary 2007 CITY OF FORT WORTH �� ,�,� Assistant City Manager Marc A. Ott Contract- huthorizatioa o� Hate /:•, F, r, p,r c� � 0 1 :r 3 ACKNOWLEDGEMENT STATE OF TEXAS § COUNTY OF TARRANT § This instrument was acknowledged before me on iA - Ao - o 7 by lbfarenk� t, Assistant City Manager of the City of Fort Worth, a municipal corporation, on behalf of said corporation. HETTIE LANE MY COMMISSION EXPIRES July 26, 2011 STATE OF TEXAS § State of Texas ACKNOWLEDGEMENT COUNTY OF TAIZRANT § This instrument was acknowledged before me on �Ol 0 , by Justin Waldrep, an individual. y ��, LESTER E. ENGLAND * Notary Publlt STATE OF TEXAS fit* i MYCGMM Ex p. 06/20/207 0 otary Public, State N 4 By: CITY OF FORT WORTH 1000 THROCKMORTON FT WORTH TX 76102 Submitter: CITY OF FORT WORTH/REAL PROPERTY - 001 ZCFVI W, SUZANNE HENDERSON TARRANT COUNTY CLERK TARRANT COUNTY COURTHOUSE 100 WEST WEATHERFORD FORT WORTH, TX 76196=0401 DO MOT DESTROY THIS IS PART OF THE OFFIC Filed For Registr tion: 02/27/2008 11:20 AM lnsuumel,t #: D208066698 OPR 5 PGS ORD. ANY PROVISION WHICH RESTRICTS THE SALE, RENTAL OR USE OF THE DESCRIBED REAL PROPERTY BECAUSE OF COLOR OR RACE IS INVALID AND UNENFORCEABLE UNDER FEDERAL LAW. Printed by: PT ��_� �� • • • • • COUNCIL ACTION: Approved on 12/18/2007 DATE: Tuesday, December 18, 2007 LOG NAME: 30WALDREP REINS REFERENCE NO.: �*L-14440 SUBJECT: Authorize the Reinstatement of Canceled Lake Worth Lease with Justin Waldrep for the City -Owned Property Known as Lot 15, Block 21, Located at 9708 Watercress Drive, Retroactive to October 23, 2007, and Authorize Amendment of Lease Relating to Rent, Lessee's Option to Purchase, and Other Non -Material Terms RECOMMENDATION: It is recommended that: 1. The City Council approve the reinstatement of the 50-year lease agreement with Justin Waldrep for Lot 15, Block 21, Lake Worth Leases, located at 9708 Watercress Drive retroactive to October 23, 2007; and 2. Authorize Amendment of the Lease relating to rent, Lessee's Option to Purchase, and other non -material terms DISCUSSION: The 50-year lease agreement was canceled by Council action M&C L-114413, on October 23, 2007, for nonpayment of Lease, sanitation and Taxes. The Lessee, Mr. Justin Waldrep, was notified on August 9 and September 14, 2007, of the default condition and the 45-day time period to cure. The Lessee did not take any actions to cure any of the default amount prior to the expiration of the 45-day time period which expired on September 24, 2007. Mr. Waldrep owns the improvements on the property free and clear and has made a request for the Lease to be reinstated. City Staff has agreed to reinstate the Lease, and Mr. Waldrep has agreed to the reinstatement of the Lease with the condition that the Lease payments must be completely current when the action to reinstate goes before the City Council for approval. Further, Mr. Waldrep has agreed to an amendment of the Lease terms as follows: 1. Lessee shall be required to make annual payments only, eliminating any monthly payment provision in the agreement; 2. Section 7, the provision regarding the City's obligation to repurchase any improvement located on the property at the expiration of the lease agreement, will be eliminated and no longer exists; and 3. The Option to Purchase and Purchase Agreement which became void upon cancellation of the Lease for default will not be reinstated. The lessee has brought his accounts current and has paid his Lease in full for the 2007 Lease Year. The property is located in COUNCIL DISTRICT 7. FISCAL INFORMATION/CERTIFICATION: Logname: 60SOUTHWEST Page 1 of 2 The Finance Director certifies that the reinstatement of this modified lease has no material effect on City Funds. TO Fund/Account/Centers FROM Fund/Account/Centers Submitted for Cit�r Manager's Office by: Originating Department Head: Additional Information Contact: Marc A. Ott (8476) A. Douglas Rademaker (6157) Lisa Scotford (8364) Logname: 60SOUTHWEST Page 2 of 2