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Home My WebLink AboutContract 38637-A1• ASSIGNMENT OF TAX ABATEMENT AGREEMENT This Assignment of Tax Abatement Agreement is made and entered into by and between HMH Lifestyles, L.P., ("Assignor") and Wunard A. Walker, ("Assignee") and the City of Fort Worth, ("City") RECITALS A. Sierra Vista L.P ("Sierra") and the City of Fort Worth, Texas (the "City") entered into that certain Tax Abatement Agreement ("Agreement") for Property Located 1417 Sierra Estate Trail, Block F, Lot 30, Sierra Vista Addition ("Property") which is located in the Rolling Hills Neighborhood Empowerment Zone, such Agreement approved by the City Council of Fort Worth February 21, 2006, City Secretary Contract Number 34552 ("Agreement"): B. Pursuant to that certain Special Warranty Deed dated as of 02/20/2008 recorded under Tarrant County Deed Records, Sierra conveyed the Property to Assignor and Assignor acquired title to the Property which is the subject of the Agreement: C. Section 5 of the Agreement permits Sierra to assign all of its rights under the Agreement to HMH Lifestyles, L.P., without obtaining the prior consent of the City Council: D. Sierra assigned the Agreement to HMH Lifestyles, L.P. Assignor; such Agreement is dated 02/20/2008 City Secretary Contract Number 38637. E. Pursuant to that certain Special Warranty Deed dated as of 10/30/2008, recorded under Tarrant County Deed Records, Assignor conveyed the Property to Waynard A. Walker and Assignee acquired title to the real property which is the subject of the Agreement. F. Section 5 of the Agreement permits Assignor to assign all of its rights under the Agreement to Assignee, without obtaining the prior consent of the City Council: AGREEMENT NOW THEREFORE, in consideration of the mutual terms and conditions herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 1. Assignment. Assignor hereby ASSIGNS, TRANSFERS AND CONVEYS all rights, duties, obligations, title and interest under the Agreement to Assignee. FT. WORTH, TX 2. Acceptance. Assignee hereby accepts the Assignment granted herein, and assumes all of Assignor's rights, duties and obligations arising under the Agreement. 3. Effective Date. The effective date of this Assignment is 10/30/2008 ("Effective Date"). All rights, duties and obligations under the Agreement arising, accruing or relating to the period before the Effective Date are allocated to Assignor and all rights, duties and obligations arising, accruing or relating to the period thereafter shall be allocated to Assignee. 4. Release and Surrender of Assignor. Except as otherwise expressly set forth in this Assignment, Assignor will be discharged from 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. in. 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. City 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 Development Department NEZ Program 1000 Throckmorton Fort Worth, Texas 76102 ASSIGNEE: Waynard A. Walker 1417 Sierra Estate Trail Fort Worth, Texas 76119 2 ASSIGNOR: HMH Lifestyles, L.P. 9001 Airport Freeway, Suite 400 North Richland Hills, TX 75180 8. Successors Except as herein otherwise provided, upVIA and inure to the benefit of the parties, and administrators, successors and assigns. this Assignment will be binding their respective heirs, executors, 9. Counterparts. This Assignment may be executed in multiple counterparts, each of which, once executed, will be an original and fully -binding on the parties so executing; and all such counterparts together constitute one and the same agreement. 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. ASSIGNOR: HMH Lifestyles, L.P. Namf Title: ASSIGNEE: Wayn rd A. Walker ,Lkv ) I(Ok am : Waynard A. Walker 3 CITY OF FORT WORTH Susahi _ anis Assistant City Manager ATTEST: City Secretary APPROVED AS TO FORM AND LEGALITY: Charlene Sanders Assistant City Attorney M & C: C-21313 OFFtC1AL RECORD CITY SECRETARY FT. WORTH, TX G� STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Susan Alanis, 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 she 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 she 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 201L �itnd►� 44Ml.�r1�,c.� Notary Public in and for the State of Texas LINDA M. HIRRLINGER MY COMMISSION EXPIRES February 2, 2M day of 5 STATE OF TEXAS § COUNTY OF TARRANT § EFORE ME, the undersigned authority, on this day personally appeared J'g n ej Leui; S , �� Sew of HMH Lifestyles, L.P., a Texas limited partnership, known to me to be th6 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 and as the act and deed of the HMH Lifestyles, L.P. a Texas limited partnership. GIVEN p UNDER MY HAND AND SEAL OF OFFICE this day of 2011. , Notary(�'ublic in and for the State of Texas STATE OF TEXAS § COUNTY OF TARRANT § JILL BARFIEIQ Notary Public, State of Texas r, My Commission Expires March 25. 2012 BEFORE ME, the undersigned authority, on this day personally appeared Waynard A. Walker, 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. IVEN Nay Public in the State of Tex MY HAND thi ��mY rv�; SAHAH J, 0®LC *: *` MY COMMISSION EXPIRES ,NwrF *W November 5, 2011