HomeMy WebLinkAboutContract 31471-CA1 CITY SECRETARY(�L� '
O CONTRACT NO.
ASSIGNMENT OF LEASE
oF' �6\ THIS ASSIGNMENT OF LEASE ("Assignment") is made and entered into effective as
'Zo0 of the 1st day of July, 2019 ("Assignment Date"), by and between Botanical Research
Institute of Texas, Inc., a Texas non-profit corporation ("Assignor"), BRIT Landowner, a
Texas non-profit corporation ("Assignee"), and City of Fort Worth, a Texas home rule
corporation("City").
RECITALS :
A. Reference is hereby made to that certain Lease ("Lease"), dated as of March 10,
2005, between Assignor as tenant and City as landlord for the lease of 1800 University Drive,
Fort Worth, Texas, as more particularly described in the Lease ("Property").
B. Contemporaneously with the date hereof, Assignor is conveying the building,
parking lots, improvements, additions, alterations, and fixtures located on the Property to
Assignee.
C. Assignor now wishes to assign the Lease from Assignor to Assignee, and City
approves of such assignment.
AGREEMENT :
NOW, THEREFORE, for and in consideration of Ten Dollars ($10.00) and other good
and valuable consideration in hand paid to Seller by Assignee,the parties agree as follows:
1. Assignor hereby TRANSFERS, ASSIGNS, and CONVEYS unto Assignee all of
the right, title, and interest of Assignor in and to the Lease.
2. Assignee hereby assumes all liabilities and obligations of Assignor under the
Lease and agrees to perform all obligations of Assignor under the Lease which are to be
performed or which become due after the Assignment Date.
3. City hereby approves of the assignment of the Lease from Assignor to Assignee.
4. This Assignment shall be binding upon and inure to the benefit of Assignor and
Assignee and their respective legal representatives, successors and assigns.
5. This Assignment may be executed in multiple counterparts, each of which will,
for all purposes, be deemed an original, but which together will constitute one and the same
instrument.
TO HAVE AND TO HOLD the Lease, together with any and all the rights and
appurtenances thereto in any wise belonging to Assignor, unto Assignee, its legal
representatives, successors, and assigns forever.
EXECUTED to be effective as of the Assignment Date.
Assignment of BRIT Lease
Pagel of3 �
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Assillnor•
BOTANICAL RESEARCH INSTITUTE OF TEXAS , INC.,
a Texas non-profit corporation
By:
Name: �^�,e
Title: :56 aA iA
Assil4nee•
BRIT LANDOWNER,
a Texas non-profit coiporat' n
By:
Name: ��2VL5
Title: -e s r -
Assignment of BRIT Lease Ur SECRETARY
Page 2 of 3
City:
CITY OF FORT WORTH
a Texas municipal corporation
By:
Fernando Costa, Assistant City Manager
APPROVED AS TO FORM AND LEGALITY:
Assistant City Attorney
M&C: � -2 °I0 01 lal 1z o 19
1295: 21�tV- 43SU-76i
ATTEST: ►` ;
\t"IZ -fz
City Secret J h+:
City of Fort Worth Contract Compliance Manager:
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.
& )a
Name of Empl e
fio;
Title
L�CC�
Assignment of BRIT Lease ° WORTH,T
Page 3 of 3
M&C Review Page 1 of 2
Official site of the City of Fort Worth,Texas
CITY COUNCIL AGENDA FORT�H
COUNCIL ACTION: Approved on 1/29/2019
DATE: 1/29/2019 REFERENCE NO.: **C-29016 LOG NAME: 80BRITLEASE
CODE: C TYPE: CONSENT PUBLIC NO
HEARING:
SUBJECT: Authorize Assignment of Lease with the Botanical Research Institute of Texas, Inc., to
BRIT Landowner for the Property Located at 1800 University Drive (COUNCIL DISTRICT
7)
RECOMMENDATION:
It is recommended that the City Council authorize the City Manager to execute an assignment lease
with the Botanical Research Institute of Texas, Inc., to BRIT Landowner, a Texas non-profit
corporation, for the property located at 1800 University Drive.
DISCUSSION:
On March 18, 2003, the City Council adopted Resolution Number 2926 which states the City's intent
to lease the property located at 1800 University Drive to the Botanical Research Institute of Texas,
Inc., (BRIT) for one dollar per year for 99 years. The relocation of BRIT to 1800 University Drive
serves the Fort Worth Botanic Garden and the City of Fort Worth by providing BRIT's resources and
services in close proximity to the Botanic Garden.
On March 10, 2005, the City and BRIT executed City Secretary Contract No. 31471 to lease the
premises at 1800 University Drive for 99 years. The lease states that BRIT may not assign without
the approval of the City.
BRIT has established a separate non-profit corporation, BRIT Landowner, a Texas non-profit
corporation, to separate the fixed assets, e.g., the building, from the rest of the programs and
operations, and requests to assign its leasehold estate to BRIT Landowner. This M&C will authorize
the assignment of the building, parking lots, improvements, additions, alterations, and fixtures from
BRIT to BRIT Landowner for the consideration of Ten and 00/100 Dollars ($10.00). The remainder of
the lease remains unchanged.
1800 University Drive is located in COUNCIL DISTRICT 7.
FISCAL INFORMATION/CERTIFICATION:
The Director of Finance certifies that this action will have no material effect on City funds.
TO
Fund Department Account Project Program Activity Budget Reference# T�m
ount
ID ID Year (Chartfield 2)
FROM
Fund Department Account Project Program Activity Budget Reference# Amount
ID I I ID I I Year (Chartfield 2
Submitted for City Manager's Office by: Fernando Costa (6122)
Originating Department Head: Richard Zavala (5704)
http://apps.cfwnet.org/council_packet/mc review.asp?ID=26594&councildate=1/29/2019 1/30/2020
M&C Review Page 2 of 2
Additional Information Contact: Sandra Youngblood (5755)
ATTACHMENTS
BRIT 1295 Certificate Notarized - redacted.pdf
CSC 31471.BRIT lease.pdf
Resolution No. 2926.pdf
http://apps.cfwnet.org/council_packet/mc_review.asp?ID=26594&councildate=l/29/2019 1/3 0/2020