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Home My WebLink AboutContract 38966t r �, ®n��-R ��E �R� � � �� 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 Ricardo Antonio ��rrLt.1 ("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 __ 1329 Sierra Estate Trail',' Lot 42, in Block A of SIERRA VISTA, an addition to the City of Forte Worth, Tai�ant County, Texas, according to the Main or Plat County;: Texas, ("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 3�(p�15 ("Agreement"): B. Pursuant to that certain Special Warranty Deed dated as of November 3, 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: �ti i�t��ct f �::n . �. 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 A reement is dated November �3, .2008 City Secretary Contract Number ,,#: E. Pursuant to that certain Special" Warranty Deed dated as of February 1,2009, recorded under Tarrant County' Deed Records, Assignor conveyed the Property to Ricardo Antonio Ibarra 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: OFFICIAL RECORD ,:�� ::3, 0lT1'�ECRFTARI( ;,. ' "' " �o UVORTN, T3C i �� _ 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. 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 February 1, 2009 ("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 Assi nor. 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. 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. t i:�� ,s �.i.� t`t 6. City of Fort Worth's Consent. ��ty of� Fort Worth hereby consents to this Assignment upon the terms and coriditiona� 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�.Qgreement 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 Department (NEZ) 1000 Throckmorton Fort Worth, Texas 76102 ASSIGNEE: Ricardo Antonio Ibarra 1329 Sierra Estate ":Grail Fort Worth, Texas 7611.9 ASSIGNOR: HMH Lifestyles, L.P. 9001 Airport Freeway, Suite 400 North Richland Hills, TX 75180 8. Successors. 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. 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. 1N WITNESS WHEREOF, the parties have executed this Assignment as of the date first above written. ASSIGNOR: HMH Lifestyles, L.P. Name: Title: 3 ASSIGNEE: Ricardo Antonio Ibarra CITY OF FORT WORTH �i�� . T.M. Higgins Assistant City Manager ATTEST: City Secretary APPROVED AS TO FORM AND LEGALITY: Charlene Sanders Assistant City Attorney M & C: C-21313 ��'FICfAL RECORD CITY SECRETARY ' � % UI70RTH, TX �� STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared T.M. Higgins, 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. GIVEN UNDER MY HAND AND SEAL OF OFFICE this day of 2009. Notary Public in and for the State of Texas 5 STATE OF TEXAS § COUNTY OF TARRANT § B� O E, the ersi ned authority, a�r� of HMH on this day personally appeared Lifestyles, L.P., a Texas limited artnership, known to me to be t e 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. UNDER MY HAND AND SEAL OF OFFICE this Notary Public in and for the State of Texas STATE OF TEXAS § COUNTY OF TARRANT § �;� ,'i' day of BEFORE ME, the undersigned authority, on this day personally appeared Ricardo Antonio Ibarra, 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. UNDER MY HAND AND SEAL OF OFFICE this 2009. i iri and for the State of Texas TINA M. ESTEP Notary Pubfic, State of Texas My Commission Expires May 20, 2004 day of �� Electronically Recorded Official Public Records Date: February 1, 2008 drantor: HMH Lifestyles, Grantor's Mailing Address County, TX 76180 Grantee: Ricardo Antonio Gnmtee's Mailing Address Consideration: TEN AN consideration of a note dated of a n Thirty Eight andNo/lW Dollars ( note is secured in part by a vendor's 11 date herewith, from Grantee to George D209039966 Y RIGI�TSi IF YOU ARL A NATURAL PERSON, YOU OR ALL OF TH13 FOLLOWINe INFORMATION FROM kN SFERS-AN n;�rEREST IN REAL PROPERTY BEFORE IN THE PUBLIC RECORDS: YOUR SOCIALSECURITY 1R YOUR DRIVER'S LICENSE NUMBER 1C4 Y DEED WI'i'.HVENDOR'S LIEN And for the further conslderati0!>�tnhe is in the principal mnount of Fourteen T'h son of Fort Worth, Texas, as therein provided, p and further providing that should default In covenants of the Deed of Trust securing the as the option of the holder thereof, at once becom Lien hereby expressly retained and reserved additionally secured by a subordinate Deed of T Property (including any irnprovem ents): Lot Fort Worth, Tarrant County, Tcsas, accord 1 Slides 10693 & 10694, Plat Records, Tarrant Conn Reservations from and Exceptions to Conveys subject to any and all restrictions, mineral reservations, and other governmental zoning laws, regulations and i horoin described property. • x ' wi and other good and valuable consideration and the further principal amount of Seventy One Thousand Nme Hundred eeuted by Grantee, payable to the order of NfFN, Inc. Theam, rr of NN, Inc. in this deed and by a deed of trust of even To the extent Grantor owns the ell, gas and mine. Property, Grantor specifically reserves the Mineral Rights for excepts such Mineral Rights fiom the conveyance herein. Cin Mineral rights includes by its terms all oil, gas and any other m Grantor, for the consideration and suoy warranty, grams, sells, and conveys to Grantee appurtenances tharoto in any wise belonging administrators, successors, or assigns fb7eVer. Gr£ and successors to warrant and forever defend all al administrators, successors, and assigns against eve any part thereof, except as to the reservations from slivery by Grantee of a note dated of even date that and No/100a' Dol]¢rs ($19,999.00), p¢yabie to City eleration of maturity upon default and attorney fees, ht of th First described note above, or in any of the ass e d It by the second described note shall, at g r, d not bainscoured by a subordinate Vendor's hereiN described and conveyed, and being herewith toVicki S. Ganske, Trustee, The vendor's lien against and superior tYle to the property are retain c paid according to its terms, at which time this_det:d shall become abso]ute. NT and request of the Grantee heroin, having advanced gnd paltl' in cash to the purchase price of the herein described property as' is evidenced by the heminal Lien, together with the Superior Title to said property; is reiained hamin fvr the k are hereby TRANSFERRED AND ASSIGNED to said Lender, Its successors and is given and accepted easements, municipal County, affecting the Rights") on, in, and under the hairs, executors, and assigns and at Grantor's reservation of dre der a Property conveyed. to conveyance and ruler the rights and ,'s hairs, cxecucors, utors, administrators, ee's heirs, executors, to claim the same or Grantor and Grantee also acknowledge the h'etention of a second, sub" 'in and Grantor hereby transfers the same to •Cb`fYe'SF FORT WORTH, hereinafter ec BENEFICIARY", which lien secures, Grantee's certain other note of even date to SEGO in the amount of $19,999.00, being flrrther consideration paid to Grantor, as morn particul d trust of even date herewith to VICKI S. GANSKE, TRUSTEE, But It Is expressly agreed vendor's lien and superior title are retained In favor of theFIRST-LIEU BENENFICIARY BENF,FICIARY, respectively, ngairnt thQ above described property, promises and improveme above respective notes is fully paid according to its terms, when this deed shall become absolute. Grantee assumes payment of all taxes for current and subsequent yearse When the context requires, singular noun .� described is folly at the instance gat onion of the of a vendor's lder Ad the same • 7� After on Ricardo Ant 1329 Sierra Fort Worth, of said limited Ax before me on the dav of 2 2009, the of HMH nership. L Notary public, State of 'ex s " AE,. �� "= 3TACEYBEII. y �r trYCOMMISSfONEXPIRE$ .,, . J„�' February 14, 2010 arrant Appraisal Teal Estate 07/17/2009 Account Number: 40949141 Georeference: 38586-A42 Property Location: 1329 Sierra Estate Tr, Fort Worth Owner Information: Ibarra, Ricardo A 1329 Sierra Estate Trl Fort Worth Tx 76119-2661 2 Prior Owners Legal Description: Sierra Vista Addition Bik A Lot 42 Taxing Jurisdictions: 026 City of Fort Worth 099 Regional Water District 220 Tarrant County 224 Tarrant County Hospital Dist 225 Tarrant County College Dist 905 Fort Worth ISD This information is intended for reference only and is subject to change. It may not accurately reflect the complete status of the account as actually carried in TAD's database. Pronosed Values for Tax Year 2009 Impr 2009 Total`* _ Market Value _Land $203000 $643100 $84,100 Appraised Value * $673280 Approximate Size *** 1,320 Land Acres 000000 Land SgFt =� 0 0 Appraised value may be less than market value due roscare-manuawu nnmauuua U11 VaIuu increases " A zero value indicates chat the property record has not yet been completed for the indicated tax year Rounded 5-Year Value History Tax Year�XMPT Appraised Land�Appraised Impr Appraised Total Market Land Market Impr Market Total 2008 -� 000 $16,500 `$0 $16,500— $161500 $0� $16,500 2007 1000 $16,500�_ _$0 $16,500_ $16,500 $0 $16,500 2006 1000 1 $51000 $0 $5,000 $51000I $0 $5,000 2009 Notice Sent: 05/22/2009 Protest Deadline: 06/22/2009 Exemptions: None Property Data Deed Date: 02/01/2009 Instrument: D209039966 Year Built: 2008 Pct Complete: 100 TAD Map: 2054 376 MAPSCO: 077Y Agent: None Class: State Code: Garage Bays. Central Air: Central Heat: Pool 006 02 Sngle Fam Invty 01 Y Y N