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Home My WebLink AboutContract 36796-CA2 Cu 1ik'.� CWI Umf m: g -4� ASSIGNMENT DE TAX ABATEMENT AGREEMENT This Assignment al?Tax Abaternel�t Agree is n�rade and entered into by and between CTMGT Waterview Estates FL-1, LLC, ("CTMGT"), ("Assignor") and Impression..Homes,L.L.C., ("Assignee")and the City of Fort Worth, ("City") RECITALS A. Watorview hstates,L.P., Pars Irtyeshtret t= :(ni�, 6eneral Partner("Waterview")4nd the City of Fort Werth. Tows (the "City") entered into that certain Tax Aba ement Agreerr,ent("Agrectrter:t")1or Property LOQ atrl at 5g09 Maui Drive;Lot 13? Lilock ; Waterfront at Enchanted Bay; an Addition to the City of Fort Worth, Tarrant County, Texas, according to the plat rworded and filod in. Cabinet A; Slide No. 11723, Plat Records, Tarralit County, 1 v as ("Property") which is located in the Lake Arlington Neighborhood Empoweraxt,,nt,zone, such Agr„cruent approved by the City Cotincil of Fort Worth November 6, 2007, City Secretgy Contract Number 36745 (`AAgrcement"): . B. Section 5 of the Agrecrnent permits Waterview to assign all of its rights under the Agreement to CTMGT,without obtaining the prior Consent of the City Council; C. Waterview assigned the Agreement to CTMGT, Assignor, such Agreement is dated September 27,2013,City Sep retry i�antiact Number 3679&CA1. D. Pursuant to that certain apccial Warmat-y Deed dated as of March 1¢, 2014 recorded under Tarrant County Deed Records, Assigner epnveyed. the Property to igipression Homes, L.L.C. arad Assignee acquired tittle to the real property, which is the subject of the Agreeracnt. E. Section 5 of the Agrectxaont permits Asssgnar to assign iIll of its _rights ardor The Agreement to Assignee,without obtaining the prior consent of tilt:City Council; AGREEME�'T NOW TNEREFORE, In cr?atsi icr►#Qn of. the tnjitual tcrM and conditions herein contained and other good 6d valuable cousideration,the receipt and suffc e.110 of which are hereby avk.r Qwlcdged,the parties heraby.agree:as fpliowvs: 1. Assi rzwerrt_ Assignor hereby A.SS101\1S, TRAM FERS AND C-ONVi YS all rights, duties, obligations,title and interest-wi.4er tho Agreprneat to Assignee, Z. Accojpance,- Assignee hereby dcccpts the Ass'gament granted herein, and ass rrnes all of'Assignor's rigbts,.duties ar`rd 0ligations arising under the Agr�erxierat. rn 3. Effective Date. The effective date Of this Assigrrnent is March 12, 2011 ("Eff'eotive rn Date"). All rights, duties and of ligatloiis under thq: Agreement arising, kerning or relating to the period-before the Effective late ark allocated to Assignor and all Tights. A si nincnt cal:Ta:t Aliatefraezit Contract#3&7-96-C-,A 1 front OFFICIAL RECORD CTMGT Watery ew I4stfates FL�-1, L1..(7 to lrnprc5sio:n Hgtp es,LLC' ��ECRE��P�'� duties and obligations arising, accruing or relating to the period thereafter shall be allocated to Assignee. 4. Rele e and Surrender of Assi nor. Except as otherwise expressly set forth in this Assignment, Assignor will be discharged frorn.any and all further obligations under the Agreement as of the Effective Date. Assignor must surrender the Property to the Assignee on or before 11,59 p. m, on the date prior to the Effective Date in its present condition, Assignor relinquishes any right to any improvements, fixtures or equipment on the Property. 5. Representations. Assignor represents,.warrants and covenants with Assignee that as of the Effective Date, that Assignor is not in default under any of its obligations contained in the Agreement. 6, Cj!y of Fort Worth's Consent. City of Fort Worth hereby consents to this Assignment upon the terms and conditions set forth herein. Unless and-until City of Fort Worth has executed this Assignment, this Assignment is of no effect. The consent granted herein should not be construed as consent to any further assignment except as provided in the Agreement. The failure or delay of City of Fort Worth in seeking to Enforce any provisions of the Agreement or this Assignment should not be-deemed a waiver of rights or remedies that City of Fort Worth may have, or a waiver of any subsequent breach of the terms and provisions therein or herein contained. 7. Notices. Any notice given by any party to another party hereto must be given in the manner required under the Agreement. The addresses set forth below supercede any addresses for notices set forth in the.Agreement. CITY OF FORT WORTH: City of Fort Worth Housing and Economic Developmen.t Department(NEZ) 1000 Throckmorton Fort Worth,Texas 76102 ASSIGNOR: ASSIQI�IEE: CTMGT Waterview Estates,FL-1,LLC Impression Homes,L,L.C. 3901 Airport Freeway, Suite 200 P.O.Box 1838 Bedford,TX 76021 Keller,Texas 76244 8. ucce Asors. Except as herein otherwise provided, this Assignment will be binding upon and inure to the benefit of the parties, and their respective heirs, executors, administrators,successors and assigns. 9. CounteEparts. This Assignment may be executed in multiple counterparts,each of which, once executed, will be an original aii&fully-binding on the parties so executing; and all such counterparts together constitute one.and the same agreement. Assignment of Tax.Abatement Contract 936796-CA l from CTMGT Watervlew Estates FL-1,LLC to Impression Homes,LLC 2 10. Binding Offer. This Assignment will be not be binding until executed and delivered by all three parties. IN WITNESS WHEREOF, the parties have executed-this Assignment as of the date first above written. CITY OF FORT WORTH Fernando Costa Assistant City Manager STATE OF TEXAS § COUNTY OF TARRANT § BEFORE W, the undersigned authority, on this day personally appeared Fernando Costa, Assistant 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 Mayor and Council Communication of the City Council of the City 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. GI UNDER MY HAND AND SEAL, OF OFFICE this day of 2014. Not Public in and for P4°- AtOfQry public,r SIA S ►yam; :�. are of rexos �. My rommisslori Ex the State of Texas '.�•oFa�*� duly I0, plies 2017 ar K$ ecretary APPROVED AS T ORM AND LEGALITY: *00 Q000(lot k Melinda Ramos Sr.Assistant City Attorney M&C: C-22514 Assignment of Tax Abatement Coniraet N35796-CAI from CTMGT Waterview Estates FL-1,LLC to Impression flames,LLC 3 ASSIGNOR:CTMGT Wateniow states FL-1,LLC Name; Mehrdad Moayedi Title: Mann in Y member STATE OF TEXAS � COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Mehrdad Moayedi, Managing Member of CTMGT Watervicw Estates FL-1, L.L,C. known to me to be the person whose name is subscribed to the foregoing instrcunent, 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 CTMGT Waterview Estates FL-I,L.L.C. GIVEN UNDER. MY HAND AND SEAT. OF OFFICE this �� day of LAURA L WAYLAND NOt y M. Iic m and 1oT J�� My Commission Expires July 14, 2016 the State of Te:cas *r ASSIGNEE: Impression Homes, L.L.C. Name: Bruce Heikkinen Title: Manx in Member STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, this clay personally appeared Bruce Heikkinen, Managing Member of Impression Ho s, L.L.C. known to me to be the person whose nanie is subscribed to the foregoing ins meat, and acknowledged to me that he executed the same for the purposes and consider 'on therein expressed, in the capacity therein stated. GIVEN MY HAND AND SEAL OF OFFICE this _ day of 2014. Notary lic in and for the State of Texas Assignment of-Tax Abatement Contract 436796-C .1 CTMGT Watetview Estates FL-1,LLC to Impression mp,eTH� 4 ASSIGNOR: CTMGT Water-view Estates 1~L-1, LLC Name: Mehrdad Moa edi Title: Managing Member _ STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on day personally appeared Mehrdad Moayedi, Managing Member of CTMGT Watervie Estates FL-1, L.L.C. known to me to be the person whose name is subscribed to .aregoing instrument, and acknowledged to me that he executed the same for the pur es and consideration therein expressed, in the capacity therein stated and as the act an eed of CTMGT Waterview Estates FL-1,L.L.C. GIVEN UNDE MY HANK AND SEAL OF OFFICE this T day of �014. — Notary Pu c in and for the State of Texas ASSIGNEE: Imp Won H es, L.L.C. Name; ruce ejkkinen Title:.Managing Member STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Bruce Heikkincn, Managing Member of Impression Homes, L.L.C. known to me to be the person 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. GIVEN UNDER MY HAND AND SEAL OF OFFICE this 13 day of ��l'r✓� 2014. ,Nlllryr NIKKI JACKSON .r4P,�Y'ugri'. a o public,State of Texas 1�lQtary 1C iI! d for '3i } W�o�v Commission Expires the State ofTexap ''�' pia February 16, 2016 ..: Assignment of Tax Abatement Contract#367 f6-CAI frCTMGT Waterview Estates FL-1, LLC to Impres �4 Ir$Y SOCRSTARY