Loading...
HomeMy WebLinkAboutContract 57691 Date Received: 06/16/2022 Record Number: PN22-00079 Time Received: 4:57 pm City Secretary No.: 57691 Estoppel Certificate This Estoppel Certificate is made on the 14th day of June 2022,by the undersigned, the City of Fort Worth, a home rule municipal corporation of Tarrant County, Texas ("City"), acting herein by and through its duly authorized Development Department Director, provides this Estoppel Certificate under that certain Right of Way Encroachment Agreement(the"Agreement")with KFH-CRG(Texas),LP a Texas limited partnership. dated as of April 12', 2021, and recorded April 13', 2021, under Clerk's File No. D221100584, Official Public Records, Tarrant County, Texas, relating to that certain real property located at 401 Hemphill Street,Fort Worth,Texas 76104, as more particularly described in the Agreement (the "Property"). The City gives this Estoppel Certificate in connection with the sale,transfer, assignment and conveyance of such Property in its capacity to oversee compliance of the Agreement with respect to the Property, to Broadway Chapter, LP a Delaware limited partnership, or its permitted assigns ("Purchaser")the permitted assign of Asset Development and Management Group, LLC a Florida limited liability company; Broadway Chapter LP,a Delaware limited partnership("Purchaser"),the permitted assign of Asset Development and Management Group LLC, a Florida limited liability company, has entered into that certain Purchase and Sale Agreement with KFH-CRG (Texas) L.P., a Texas limited partnership (the "Seller"), for the Property. The Purchaser and KKR Real Estate Credit Manager LLC or its affiliates (`Purchaser's Lender") have examined title to the Property and established that said Agreement affects the Property. Purchaser and Purchaser's Lender have requested that City execute and deliver this estoppel certificate (`Estoppel") and understand that the Purchaser is relying on the following statements in purchasing the Property from the City and that the Purchaser's Lender is relying on the statements herein in connection with providing financing to the Purchaser. In addition,the Estoppel and the representations warranties and covenants may be relied upon by Purchaser's Lender, its successors and assigns and any nationally recognized statistical rating agency rating any securities issued in connection with the loan to Purchaser or any portion thereof. The City hereby certifies that: 1. The Property is subject to the terms of the Agreement, which Agreement is in full force and effect, has not been supplemented, amended, modified or superseded since its original execution, and no other agreements or understandings (other than Agreement) exist between or among any or all of the undersigned with respect to the subject matter of the Agreement. 2. All construction, installation, maintenance and operation by the Seller of the Encroachment(as defined in the Agreement) and the use or occupancy of the Public Property has been in compliance and conformance with the Agreement and with the charter, ordinances, codes and policies of the City. OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX 3. Seller has paid and the City is in receipt the application fee of $500.00 that was requested at the time of the Agreement to defray all costs of inspection and supervisions to the City. In addition, Seller has agreed to pay City a fee of $1.44 per square/linear foot of the encroachment area annually thereafter. There are no outstanding expenses due and owing from the Seller to the City in connection with any obligations under the Agreement. 4. Seller is not in default or in violation of any of their obligations under the Agreement and no party hereto has any knowledge of the existence of any event which, with the giving of notice, the passage of time or both would constitute a default by Seller under the Agreement. Executed as on the 14th day of June , 2022 City: CITY OF FORT WORTH By: DJDJ Ha�14,2022 20:49 CDT) D.J. Harrell, Director of the Development Services Department Date: Jun 14,2022 a oR Iaa o�F0000.0 Y d ° °�9�D ATTEST: 0000 0 Approved As To Form and Legality � 41 � o o 1 7gblblG��G c� C70DG<gCGT aaa�nE JannetteS.Goodall(Jun 15,2022 XpSoAo Jannette Goodall Thomas Royce Hansen City Secretary Assistant City Attorney Date: Jun 15,2022 Date: Jun 14,2022 OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX Contract Compliance Manager: By signing I acknowledge that I am the person responsible for the monitoring and administration of this contract, including ensuring all performance and reporting requirements. Janie S. Morales Development Services Date: Jun 14,2022 OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas, on this day personally appeared D.J.Harrell,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, as the act and deed of the City of Fort Worth, and in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this 14th day of Tune 3 2022 . L. Digitally signed by Wendy Wendy L.Beardslee �PRYP WENDY L BEARDSLEE Beardslee Date:1022.06.1421:04:17 0 Notary Public -05,00, STATE OF TEXAS Notary Public in and for the State of Texas or CO Notary I.D. 13323719-3 My Comm. Exp. July 28, 2025 After recording return to: Development Services Department Development Coordination Office 200 Texas Street Fort Worth, Texas 76102 OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX Legal Description of Property TRACT 1: (Fee Simple) Lot 2R2,block 36, of LOT 2R2,BLOCK 36 JENNINGS SOUTH ADDITION, an addition to the City of Fort Worth according to the plat recorded in Document Number D219215345, Plat Records of Tarrant County, Texas.