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HomeMy WebLinkAboutContract 38972r ilk 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 Montreal ONeal Mays and Lavette Vernee Mays, ("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 2925 Pima Lane, Fort Worth, Texas 76119 Lot 6 , in Block C 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 Cowity, 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 # ("Agreement"): B. Pursuant to that certain Special Warranty Deed dated as of April 10, 2007 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 April 10, 2007 City Secretary Contract Number E. Pursuant to that certain Special Warranty Deed dated as of September 2008, recorded under Tarrant County Deed Records, Assignor conveyed the Property to Montreal O'Neal Mays and Lavette Vernee Mays 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 G�FICiAL RECORD Op�T��Y��SOR/pECRTETARY o 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. 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 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 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 Department (NEZ) 1000 Throckmorton Fort Worth, Texas 76102 ASSIGNEE: Montreal O'Neal Mays I.aavette Vernee Mays 2925 Pima Lane 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. Na Title: Janet Lewis AssistanSecretary 3 ASSIGNEE: Montreal O'Neal Mays 0 CITY OF FORT WORTH T.M. Higgins Assistant City Manager ATTEST: any secretary APPROVED AS TO FORM AND LEGALITY: Assistant City Attorney M & C: C-21313 OFFICIAL RECORD CITY �ECRETAR� FT. WORTH. TX 5 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 STATE OF TEXAS § COUNTY OF TARRANT § BEFO VIE, the and rsigned authority, on this day personally appeared of HMH Lifestyles, L.P., a Texas limited artnership, known to me to be 6 he 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 day of Notary Pu lic in and for *; *? NOTARY PUBLIC the State of Texas y:° State of Texas `'". of 'P' Comm. Exp, 0&23-2010 STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Montreal Neal Mays and Lavette Ver ee Mays, known to me to be the person whose name i O's 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. IVE UNDER MY HAND AND SEAL OF OFFICE this � day of 2008. TINA M. ESTEP F YPYjotary Public in and f Notary Public,StateofTexasSg My Commission of the State of Texas May 20, z009 7 Electronically Recorded Official Public Records Grantor; 17iMIi Lifestyles, OrantorS Mnil'utg Address Grantee: Montreal O'Neal Grantee's Mailing Address D208387790 �')'ALITY RIGHT'S: IF XOU ARE A NATURAL PCRSON, YOU MAY ANY OR ALL OF THE FOLLOWING INFORMATION FROM ANY SFERS AN INTEREST IN REAL PROPERTY BEFORE IT IS TI UBLIC RECORDS: YOUR SOCIAL SFCUIUTY NUMBER OR —,YO RDRIVER'S LICENSE NUMBER Consideration: TEN A consideration of a note dared of ev Six and No/100th Dollars (S81,286J secured in part by a vendor's lien r herewlth, Prom Grantee to George M. And for the further considotatlon o the ecution and the principal amount of Nineteen Thousand a Hundred Ni City of Fort Worth, Texas, as therein provided, and providln and further providing that should default be made in the ay covenants of the Deed of Trust securing the same, the i btet option of the holder thereof, at once become due an ayablggggg hereby expressly retained and reserved upon the pr arty lier6i by a subordinate Deed of Trust of even date herewith Vii r Property (including any improvements): Lot b Fort Worth, Tarrant County, Texas, according Slides 10693 & 10694, Ylat Records, Tarrant Cvttnty, Reservations from and Exceptions to Conveyance and to any and all restrictions, reservations, covenants, coed' governmental zoning laws, regulat(ons and ordinances, if any, property. [her good and valuable consideration and [he £archer amount o£Elghty Otte Thousand Two Hundred Eigldy uva, payable to the onler of NTFN, Ina. The note is Inc. in this deed and by a deed of trust of even date Grantor, for the consideration and subject to the reservation's Ir grants, sells, and conveys to Omotea the property, together with all and any wise belonging, to have and hold it to Gran[ee, Grantee's heirs, forever. Grantor binds Grantor and Grantor's heirs, exevvi rs, ad in q def@nd all and singular the property to Grantee and Grantee's heirs, ex against every person whomsoever lawfully claiming orto cieim the same from and exceptions to conveyance andwarranty. Gmutee of a Holy dated of even date that is in nd No/1 OOa' Dollars ($19,999.00), payable to on of maturity upon default and attomey fees, u'sI described note above, or in any of the d by the second described 'note shall, at the 'ng secured by a subordinate Vendor's Lien conveyed and being additionally secured The Vendor's Liens and Superior Title herein retained are hereby N'I'FN, Inc., it successors and assigns. VISTA, an addition to thereo£ mcorded in we Grantor and Grnntea also acknowledge the retention of a second, subotdh Grantor hereby transfers the same to CITY OF FORT WORTH, hereinafter callad� which lien secures, Grantee's certain other Hole of even date to SECOND LIEA �19,999.00, 15E1Rg further eitnSid@Pal18R paid to Granter, &S nteT@ pal'llenlarly d@Sf horewith to VICKI S, GANSKE, TRUSTEE, But it is expressly agroed mid stipulate title are retained in favor of the FIRST -LIEN 13ENENFICTARY and SECOND-1 against the above described property, premises and improvements, until each of the according to its terms, when this deed shall become absolute. When the context requires, singular nouns and pronouns include the plural, is given and accepted subJect easements, municipal and ether nty, affecting the heroin described to conveyance and warranty, and appurtenances thereto In elol9, Sac Ce950rs, Or assigns seats to warrant and forever 7; mcco3ors, and assigns, e eat as to the reservations tt r w 1, Real Estate 07/17/2009 Account Number: 40949931 Georeference: 38586-C-6 Property Location: 2925 Pima Ln, Fort Worth Owner Information: Mays, Montreal Etux Lavette 2925 Pima Ln Fort Worth Tx 76119-2657 2 Prior Owners Legal Description: Sierra Vista Addition Blk C Lot 6 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 ar_tually carried in TAD's database. Prnncsed Values for Tax Year 2009 Impr 2009 Total** Market Value _Land $20,000 $71,000 $913000 Appraised Value * $20,000 $71,000 $91,000 Approximate Size *** 11500 Land Acres 0.0000 Land SgFt ( 0 Appraised value may be less than market value oue to state-tnanoateo umitauons on vmuc increases A zero value indicates that the property record has not yet been completed for the indicated tax year Rounded 5-Year Value History Tax Yeah XMPT� Appraised Land Appraised tmpr Appraised Total Market Land{ Market Impr 'Market Total 2008 000 $16,200 $0� $16,200 $16,200 $0 $16,200 2007 000 $20,250 $0 $20,250 $20,250 $0 $20,250 2006 , 000 $500 $0) $5,000 $5,000 _ $0 $5,000 2009 Notice Sent: 04/30/2009 Exemptions: General Homestead Property Data Deed Date: 09/16/2008 Instrument: D208387790 Year Built: 2008 Pct Complete: 100 TAD Map: 2054 376 MAPSCO: 077Y Agent: None Protest Deadline: 06/01/2009 Class: 006 State Code: Al Single Family Garage Bays: 01 Central Air: Y Central Heat: Y Pool: N