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Home My WebLink AboutContract 39292c�TY SECRETARY v�NTRACT Not aLaaL ASSIGNMENT OF TAX ABATEMENT AGREEMENT This Assignment of Tax Abatement Agreement is made and entered into by and between Woodhaven Custom Homes, L.L.C., ("Assignor") and Sydney Pham, ("Assignee") and the City of Fort Worth, ("City") RECITALS A. Waterview Estates, L.P., Pars Investment, Inc., General Partner ("Waterview") and the City of Fort Worth, Texas (the "City") entered into that certain Tax Abatement Agreement ("Agreement") for Property Located 5401 Grenada Drive; Lot 35; Block 1; Waterfront at Enchanted Bay; an Addition to the City of Fort Worth, Tarrant County, Texas, according to the plat recorded and filed in Cabinet A; Slide No. 11723, Plat Records, Tarrant County, Texas ("Property") which is located in the Lake Arlington Neighborhood Empowerment Zone, such Agreement approved by the City Council of Fort Worth November 6, 2007, City Secretary Contract Number 3t093 1 ("Agreement"): B. Pursuant to that certain Special Warranty Deed dated as of August 14, 2007 recorded under Tarrant County Deed Records, Waterview 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 Waterview to assign all of its rights under the Agreement to Woodhaven Custom Homes, L.L.C. ("Woodhaven"), without obtaining the prior consent of the City Council. D. Waterview assigned the Agreement to Woodhaven Assignor, such Agreement is dated July 31, 2007, City Secretary Contract Number E. Pursuant to that certain Special Warranty Deed dated as of 2008 recorded under Tarrant County Deed Records, Assignor conveyed the Property to Sydney Pham 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: �FFICigL RECORC CITY �ECRETAR� :FT WORTH, TIC 1. Assi anent. 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 ("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. 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. 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 &Economic Development Department Neighborhood Empowerment Zone Program 1000 Throckmorton Fort Worth, Texas 76102 ASSIGNOR: Woodhaven Custom Homes, L.L.C. 1221 N. I 35E Carrollton, Texas 75006 ASSIGNEE: Sydney Pham 5401 Grenada Drive Fort Worth, Texas 76119 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: hav n Custom Homes, L.L.0 Name: _Mark John Title: Vice President ASSIGNEE: Sydney Pham Awl Name: S dney Pham CITY OF FORT WORTH e T.M. Higgins Assistant City Manager ATTEST: Wi Civy Secretary APPROVED AS TO FORM AND LEGALITY: lene Sanders Assistant City Attorney M & C: C-22514 '��FICIAL REC®R� �� ECRETARI� f 7: FORTH, TX r STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Ta 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. G VEN UNDER MY HAND AND SEAL OF OFFICE this day of 2009. MARIA S, SANCHEZ Not y Public in and for NOTARY PUBLIC the State of Texas N,9le*Y STATE OF TEXAS OF My Comm. Exp.12.14.2009 STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Mark Johns, Vice President of Woodhaven Custom Homes, L.L.C., 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 and as the act and deed of the Woodhaven Custom Homes, L.L.C. a Texas limited liability company. UNDER MY I AND SEAL OF OFFICE this May, Notar}�ublic in and the State of Texas STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Sydney Pham, 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. HAND AND SEAL OF OFFICE this 45 day of May, 2008. Notary Public in a the State of Texas d El ctronically Recorded Tarrant County Texas %7(r r r(t{�l� Official Public Records 2008 Jun 03 10:25 AM D208206425 �j Fee: $ 24,00 Submitter: ACS INC 3 Pages SPECIAS��Y DEED WITH VENDOR'S LIEN Off' CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, ' EMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING �Tl(C�N%I41 Yi� OI ANY INSTRUMENT THAT TRANSFERS AN INTEREST IN YOUR Date: Grantor: Grantor's Mailing Grantee: Sydney Ph Grantee's Mailing Address: IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: NUMBER OR YOUR DRIVER'S LICENSE NUMBER, Ltd., a Texas limited partnership �lNorth I-35E ton, Denton County, Texas 75006 and Long Pham, signing proforrna to perfect lien �- 212 Limber G Drive County, Texas Consideration: Cash and a Note�pf'even date e cuter, A American Airlines Federal Credit Union in t ri al. and No/100 Dollars ($200,000.00). The Not- `s s� Teri d, y superior title retained in this Deed and by a rstr ren eed .c Gail Enda, Senior Vice -President Lending & ,roduct Wi H Froporty (including any improvoments): Lot ENCHANTED BAZ', an Addition to the City of Fc co the plat thereof recorded in Cabinet A, Slide l 1 0 A Texas. N N Reservations from Conveyance: None. by Grantee and payable to the order mount of Two Hundred Thousand i rrst and superior vendor's lien and f Trust of even date from Grantee to Trustee. 3 , SIo~cIC �1, of WATERFRONT AT rt ortii; T� rant County, Texas, according to 7 o ttTT.rP at cords of Tarrant County, Exceptions to Couveyunce and Warranty: Liens described pa�th�.-�o any other liens described in this deed as being either assumed by ntee er i e is taken by Grantee; validly existing restrictive covenants common e-p ttei which the Property is located; standby fees, taxes, and assessments l t the year 2008 and subsequent years, and subsequent taxes and as s authority for prior• years due to change in land usage or ownership; as easements created by the dedication deed or plat of the subdivision in w located; validly existing reservations or exceptions approved in writing by Gli�e in Schedule B of the Owner Policy for Title Insurance issued to grantee transaction; any discrepancies, conflicts, or shortages in area or boundary -l- ideration and to which title ubdivision in itv for taxing utility tv is Inc rochments or protrusions, or any overlapping of improvements; homestead or community ¢roperfy-or survivorship rights, if any, of any spouse of Grantee; and any validly existing titles or IgrFfi as �ertc d by anyone, including but not limited to persons, the public, corporations, gp ernM. nts nor other entities, to (a) tidelands ar lands comprising the shores or beds of Ia•,LeIIJ81-11 ror pe ennial_ rivers and streams, lakes, bays, gulfs, or oceans, (b) lands beyond the line of lt or bulkhead lines asestablished or changed by any government, (c) fille&m Iands i islai l ;act statutory water rights, including riparian rights, or (e) the area extending froirl .of meafNlow tide to the line of vegetation or the right of access to that area or easement al-onlr ad(F1 ftt rdss t it at area. Exceptions I Ccr iveyane together with all ar71 si��i and to hold it t(;",(41 KI cc Grantor and Granto is isi claiming or to claim T4lae sa but not otherwise, ex cep Conveyance and Warranty The vendor's lien described is fully paid ace ation and subject to the Reservations from Conveyance and the Warranty, grants, sells, and conveys to Grantee the Property, rights and appurtenances thereto in any way belonging, to have ntee's heirs, successors and assigns forever. Grantor binds r s CIIII&ns against every person whomsoever lawfully arry I ri hereof when the claim is by, through, or under Grantor Clad' Reservations from Conveyance and the Exceptions to When the context requires, I�IC;i°�TATUIZL+'� 1+O �o the Property are retained until each note time this deed will become absolute. include the plural. racic� �Y: Partners, Ltd., a 1 partnership \�jH Management Inc., a STATE OF "TEXAS-� • ,,f'� COUNTY OF his instrun en�t,w„as acl:nowl��igcci�� Inc., a Texas corporation, t;cneral partner partnership, on l)chalf of said partnership. 7r Pt'fa e'\RYp '; oM Fof wt V s. 0'6120�`� AFTER RECORDING R1I'URN TO: Sydncy Pharr 5401 Grenada Fort Worth, 'I'cxus 761 19 efv Tree �= �ooc#ii-�vcn Notary -3- ot WH Management Partners, Ltd., a Texas limited Real Estate Data Display Page 1 of 2 TAD Horne » Property Data Search » Back •" Printable Version I ` Homestead Exemption App Tarrant Appraisal District Real Estate 06/12/2009 Account Nu111be1:41251318 Georeference: 45259K-1-35 Property Location: 5401 Grenada Dr, Fort Worth Owner Information: Pham, Sydney Etvir Long 5401 Grenada Dr Fort Worth Tx 76119-8500 2 Prior Owners Legal Description: Waterfront @Enchanted Bay-Fw Blk 1 Lot 35 Taxing Jurisdictions: 026 City of Fort Worth 099 Regional Water District Locate with MapQuest Show Availahle 220 Tarrant County Homestead Exemptions 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. Proposed Values for Tax Year 2009 Land Impr 2009 Total** Market Value $0 $0 $0 Appraised Value* $0 $0 $0 Approximate Size*** 2,860 .and Acres 0.0000 .and SgFt 0 * Appraised value may be Tess than market value due to state -mandated limitations on value 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 Year XMPT Appraised Land Appraised Impr Appraised Total Market Land Market Impr Market Total 2008 000 $44,550 $0 $445550 $44,5501 $0 $44,550 Exemptions: General Homestead Property Data Deeate: 05/29/2008 Instr ment: D208206425 Year BuiIt:2008 Pct Complete: 100 Protest Deadline: Class: 007A State Code: Al Single Family Garage Bays:02 Central Air: Y Central Heat: Y TAD Maps 2078 368 Pool: N http://www.tad.org/Datasearch/re.cfm?Account=%28%2F%214HJ%SD84K%40%2C%20 06/12/2009