HomeMy WebLinkAboutContract 49075-CA1 CONSENT TO ASSIGNMENT OF
TAX ABATEMENT AGREEMENT
(CITY SECRETARY CONTRACT NO. 49075)
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This CONSENT TO ASSIGNMENT OF CITY SECRETARY CONTRACT
N O. 49075 ("Consent") is made and entered into by and between the CITY OF FORT
WORTH ("City"), a home rule municipal corporation organized under the laws of the State of
Texas, and Rock Life Holdings, L.P. ("Assignor or Owner"), and 4801 WorVenture, LLC
("Assignee").
The following introductory provisions are true and correct and from the basis of this
Consent:
A. On or about April 11, 2017, the City and Rock Life Holdings, L.P. entered into that
certain Tax Abatement Agreement on file in the City Secretary's Office as City Secretary
Contract No. 49075 (the "Agreement"). Under the Agreement, Rock Life Holdings, L.P. agreed
to construct an approximately 24,000 square foot commercial building for use as a veterinary
hospital and clinic (the "Required Improvements") on certain land in the City (the "Land") in
return for a 5-year real property tax abatement on improvements located on the Land (the
"Abatement"), all as more specifically set forth in the Agreement. The Abatement was granted
pursuant to the City's Neighborhood Empowerment Zone Policy("NEZ Policy").
B. Assignor has sold its interest in the Land and Required Improvements to Assignee and to
assign all right,title and interest in the Agreement to Assignee.
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. The City hereby consents to an assignment by Assignor to Assignee of all right, title and
interest granted to Assignor by the Agreement, effective as of September 6, 2017,
("Effective Consent Date").
2. The City consents to such assignment expressly upon the promise and covenant by
Assignee, and Assignee hereby promises and covenants to the City*that as of the
Effective Consent Date Assignee will comply with all duties and obligations of Owner
set forth in the Agreement.
3. Assignee understand and agrees that no act or omission of Assignor, whether on, before
or after the Effective Consent Date, will serve to mitigate (i) any Abatement Amounts,
Terms and Conditions set forth in Sections 2 and 3 of the Agreement (ii) any Event of
Default set forth in Section 4 of the Agreement.
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Consent to Assignment of Tax Abatement Areement#49075 '� � " �
from Rock Life Holdings, L.P. to 4801 Vv&Wenture, LLC M. �V0-1kEi Vis of,
Approved by M&C C-28182 on April 11,2017
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4. Nothing in this Consent shall be deemed to grant Assignee any rights under the
Agreement that are an addition to or greater than those of the Owner thereunder.
5. All terms in this Consent that are capitalized but not defined shall have the meanings
assigned to them in the Agreement.
IN WITNESS WHEREOF, the parties have executed this Assignment as of the Effective
Consent Date.
CITY OF FORT WORTH
Fernando Costa
Assistant City Manager
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, on this day personally appeared Fernando
Costa, 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
2QzV.
MARIAS.SANCHEZ
Not ry Public in and for =.; My Notary ID#2256490
the State of Texas "=.F.."�F4 Expires December 19,2021
eF
Y. IF
ATTEST:
Mary Kayse it ecre ary
Consent to Assignment of Tax Abatement Agreem nt#490759 t� ( �Ca
from Rock Life Holdings, L.P. to 4801 enture LLC
Approved by M&C C-28182 on April 11, 2017
2 —�
APPROVED AS TO FORM AND LEGALITY:
�—dffi`J �� W�r
Melin a Ramos
Sr. Assistant City Attorney
M& C: C-28182
ASSIGNOR: Rock Life Holdings, L.P.
a Texas Limited Partnership
By: - ----
Name: Steven Hotchkiss, DVM
Title: President
ASSIGNEE: 4801 WVENTURE,LLC, a Texas limited liability company
Name: Steven Hotchkiss, DVM
Title: Managing Member
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, on this day personally appeared Steven Hotchkiss,
President of Rock Life Holdings, L.P., a Texas limited partnership, 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 Rock Life Holdings,L.P..
I E UNDER MY HAND AND SEAL OF OFFICE this day of
09
"'...... SARAH J. ODLE
Notary Public.State of texas
Notary a lc in and r Comm.Expires 11-05-2019
the State of Texas Not ry ID 6215320
OFMCIAL RECORD
Consent to Assignment of Tax Abatement A eement#49075 CM SECRETARY
from Rock Life Holdings, L.P. to 4801 W Venture, LLC ET WORTH,`►TX
Approved by M&C C-28182 on April 11, 2017
3
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STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned au�Vy, n this day personally appeared Steven Hotchkiss,
Managing Member of 4801 WVenture, LLC, a Texas limited liability company, 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 4801 WE Venture, LLC. _
N UNDER MY HAND AND SEAL OF OFFICE this •/ day of
2
Notary Pub ' in and for ``�tPRYPVa�i�� SARAH J. ODLE
3x° =Notary
PubliC,State of texas
the State of Texas ': yc Comm. Expires 1 1-OS 2019
°.,,°,;,,. Notary ID 6215320
F'GaVDCUa C��cc-:D)
Fr WoRnud,
Consent to Assignment of Tax Abatement Agreement#49075
from Rock Life Holdings, L.P. to 4801 W^enture, LLC
Approved by M&C C-28182 on April 11, 2017
4