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HomeMy WebLinkAboutContract 38971CFY ONTRAGRTE[ Y 38 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 Josue Ibarra, ("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 1317 Sierra Estate Trail, Lot 45 in Block A of SIERRA' VISTA, an addition to the City of Fort Worth, Tarrant County, Texas, according to the Map or Plat thereof recorded in Cabinet A Slide 10693 & 10694 Plat Records Tarrant 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 B*5 * ("Agreement"): B. Pursuant to that certain Special Warranty Deed dated as of May 13, 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 May 13, 2008 City Secretary Contract Number E. Pursuant to that certain Special Warranty Deed dated as of September y�2008, recorded under Tarrant County Deed Records, Assignor conveyed the Property to Josue 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: 1 OFFICIAL RECORD OITY SECRETARI� FTo WORTH, TX 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. Assi ng ment. 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, ors rights,and assumes all of Assign'duties and obligations arising under the Agreement. 3. Effective Date. The effective date of this Assignment is September , 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 Assi ig 1or. 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 Department (NEZ) 1000 Throcl morton Fort Worth, Texas 76102 ASSIGNEE: Josue Ibarra 1317 Sierra Vista Trail Fort Worth, Texas 76119 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. IN WITNESS WHEREOF, the parties have executed this Assignment as of the date first above written. ASSIGNOR: HMH Lifestyles, L.P. Title: ASSIGNEE: Josue Ibarra ����'c'T r�c� Name: CITY OF FORT WORTH T.M. Higgins Assistant City Manager ATTEST: City Secretary APPROVED AS TO FORM AND LEGALITY: Charlene Sanders Assistant City Attorney M & C: C-21313 �' OFFICIAL RECORD �.ITY �ECRETAR� TV WORTH, TX. 0 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 E STATE OF TEXAS § COUNTY OF TARRANT § B ORE the undersi ned authority, on this day personally appeared of HMH Lifestyles, L.P., a Texas limited artnership, known to me to be th 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 UNDER MY HAND AND SEAL OF OFFICE this i z day of f�p , 2008. Notary PuB.lic in a the State of Texas STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Josue 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. GIV N UNDER MY HAND AND SEAL OF OFFICE this � day of 2008. 7*'��O�SNoMtary TINA M. ESTEPNotary Public in and for _ Pubuc, Staeof Texashe State of Texas y Commiselnn Ex Tresp.��f.„°;May 20, 2009 0 Electronically Recorded Official Public Records Grantor. HIvfII Lifestyles, L.P, Grantor's Mailing Address (fng Grantee: Josue Ibarra and Grantee's Mailing Address D208363479 �IALITY RIGHTS: I1=` YOU ARE A NATURAL PERSON, YOU MAY ANY OR ALL OF THE FOLLOWING INFORMATION FROM ANY SFERS AN INTEREST IN REAL PROPERTY BEFORE IT IS THE UBLIC R CO14DS: YOUR SOCIAL SECURITY NUMBER OR -YO R DRIVER'S LICENSE NUMBER Consideration: TEN AN)Q consideration of a note dated oFeven and No/100th Dollnrs ($72,350.00) t in part by a vendor's lien retained In Grantee to George M. Shanks, Jr., Tj nd Iher good and valu¢ble consideration and the further i amount of Seventy Two Thousand Three Hundred Fifty ee, payable to the order ofTFN, Inc. The note Is secured this deed and by a deed of trust of even date herewith, from N And for the furtherconsidarution o th xecution artd the principal arnouut of Nineteen Thousand Hundred Nip city of Fort Worth, Tom, as therein provided, anKVi ' fees, and further providing that should default be m covenants of the Deed of Trust securing the sarne, the option of the holder thereof, at once become due an hereby expressly retained and reserved upon the pro by a subordinate Deed of Trust of even date herewit Property (including any improvements): Lot 4 in Hlc Worth, Tarrant County, Texas, according to �e Slides 10693 Ss 10694, Plat Records, Tarrant County, TQzns. Reservations from and Exceptions to Conveyance or subject to uny and all restrictions, reservations, covenants; cc governmental zoning laws, regulations and ordinances, if any, properly. Grantor, for the consideration and subject to the re.$e: grants, sells, and conveys to Grantee the property, togetherw any wise belonging, to have and hold it to Grantee, Grantee forever. Grantor binds Grantor and Grantor's heirs, execute defend nit and singular the property to Grantee and Grantee': against every person whomsoever lawfully claiming or io reservations from and exceptions to conveyance and warranty. Grantee of a note dated of even data that is in .d No/l00'" Dollars (519,999.00), payable to F��li9n 4I II!AtWlt)' upon d?fault and attorney 16 first described note above, or In any of the The Vendor's Liens and Superior '('itle herein retained are hereby N'1T'N, Inc., it successors and assigns. d by the second described note shall, at the g secured by a subordinate Vendor's Lien nd conveyed, and being additionally secured Vista, an addition to the City of Port thereof recorded in Cabinet A, conveyance is given and accepted ay, easements, municip¢1 and other unty, affecting the hereht described Grantor and Grantee also aclmowledge the ratantiptt of a second, sober Grantor hereby transfers the some to CITY OF FORT WORTH, hereinafter called which lien secures, Grantee's certain other note of even date to SECOND LIEN $149999,00, being further consideration paid_to Oruntog ns more particularly descr. herewith W VICKI S. GANSKE, TRUSTEE, Hut it is expressly agreed and stipulated title are retained In favor of the FIRST -LIEN BENENFICIARY and SECOND-LI; against the above described property, premises and improvements, until each of the a according to its terms, when this deed shall become absolute. When the context requires, singular nouns and pronouns Include the plural. IIMH LIFESTYLES, L.P. �a to conveyance and warranty, and appunenanccs thereto in 'atory, successors, or assigns rs to warrant and forever o successors, and assigns, rt t roof, except as to the TE OF TEXAS § 'I Y OF § acknowledged before me on?the day of 2008 by the -. of HMH Lifestyles, • •Real Estate 07/ I I I irm 9 Account Number: 40949184 Georeference: 38586-A-45 Property Location: 1317 Sierra Estate Tr, Fort Worth Owner Information. Ibarra, Josue Etux Jessica 1317 Sierra Estate Trl Fort Worth Tx 76119-0000 2 Prior Owners Legal Description: Sierra Vista Addition Blk A Lot 45 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. Prnnnsed Values for Tax Year 2009 Tax Yt 2007 2006 Impr ` 2009 Total** Market Value _Land $20,000 $61,900 _ $81,900 Appraised Value $203000 $61,900 $81,900 Approximate Size** _ 15270 .and Acres 0.0000 .and SgFt —_ — Appraised value may be less tnan marKer varue due ro increases A zero value indicates that the property record has not yet been completed for the indicated tax year "Rounded 5-Year Value History _ -- -- — — XMPT�4Appraise d Landl Appraised Impr Appraised Total Market Land Impr Market Total 000 1 $16,500 $0 $16,500 $16,500 $0 $16,50 000 ; $1625000 $0 $16,5001— --_- $ ,500------$0�$16,50 000 $5 2009 Notice Sent: 04/30/2009 Exemptions: General Homestead Property Data Deed Date: 09/04/2008 Instrument: D208363479 Year Built: 2008 Pct Complete: 100 TAD Map: 2054 376 MAPSCO:077Y Agent: None Deadline: 06/O1/2009 Protest Class: 006 State Code: Al Single Family Garage Bays: 01 Central Aire Y Central Heat: Y Pool: N