HomeMy WebLinkAboutContract 57403-CA1CSC No. 57403-CA1
FIRST AMENDMENT TO CONTRACT OF SALE AND PURCHASE
THIS FIRST AMENDMENT TO CONTRACT OF SALE AND PURCHASE (this
"Amendment") is made and entered into by and between the CITY OF FORT WORTH, TEXAS, a home
rule Municipal Corporation of the State of Texas ("Seller"), acting by and through its duly authorized City
Manager or Assistant City Manager and EVANS ROSEDALE DEVELOPMENT PHASE II, LP , a
Delaware limited partnership, ("Purchaser") as of the date on which this Amendment is executed by the
last to sign of Seller and Purchaser ("Effective Date").
RECITALS
WHEREAS, Seller and Hoque Global Properties LLC (as predecessor in interest to Purchaser)
entered into that certain Contract of Sale and Purchase dated April 13, 2022 (Fort Worth City Secretary
Contract No. 57403) (the "Agreement") regarding the sale by Seller to Purchaser of certain real property
(the "Property") necessary for the Evans and Rosedale Redevelopment and Affordable Housing Project;
and
WHEREAS, Seller and Purchaser desire to amend the Agreement pursuant to the terms and
conditions set forth herein to include the sale of 1005 Evans Avenue from Seller to Purchaser in accordance
with The Evans & Rosedale Master Economic Development Program Agreement.
NOW, THEREFORE, in consideration of the foregoing premises, the mutual covenants herein
contained, and for other good and valuable consideration, the receipt of which is hereby acknowledged,
Seller and Purchaser hereby enter into this Amendment.
1. Recitals. The foregoing recitals are hereby affirmed by the parties as true and correct and
each such recital is incorporated herein by this reference. Unless otherwise defined herein, capitalized terms
used in this Amendment shall have the meanings ascribed to such terms in the Agreement.
2. Additional Property. Exhibit "A" — Description of the Property of the Agreement is
hereby amended to include the following:
ADDRESS
LEGAL DESCRIPTION
1005 Evans Avenue KRAUSE, A. SUBDIVISION BLOCK 4, LOT 1 E
Purchase Price. Section 2(b) of the Agreement is hereby amended to read as follows:
(b) The purchase price ("Purchase Price") for the Property, payable by Purchaser to Seller at
Closing (as defined below), is SIX DOLLARS AND 00/100 ($6.00). Purchaser agrees that the
Property shall be used for the development of low-income or moderate -income housing and that
the Purchase Price is in accordance with Local Government Code section 272.001(g).
4. General. Except as expressly modified by this Amendment, the Agreement remains in full
force and effect in accordance with its terms. In the event of any conflict between this Amendment and the
Agreement, the terms of this Amendment shall control. This Amendment shall be binding upon and inure
to the benefit of the parties hereto, and their respective successors, assigns, heirs and personal
representatives.
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
5. Countemarts. To facilitate execution of this Amendment the parties may execute this
Amendment in counterpart and exchange signatures by electronic delivery of a PDF copy of the executed
Amendment (including by way of DocuSign or other similar electronic signature exchange software), which
PDF copy shall be deemed valid and binding.
This Amendment is EXECUTED as of the Effective Date.
PURCHASER:
EVANS ROSEDALE DEVELOPMENT PHASE II, LP
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Name: Steven A. Shelley
Title: Manager
SELLER:
CITY OF FORT WORTH
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By: Dana BurDhdoff(A- D`n
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Name: Dana Burgdoff
Title: Assistant City Manager
Attest:
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Jannette S. Goodall
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City Secretary
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Date: October 19, 2021
APPROVED AS TO LEGALITY AND FORM
Matthew A. Murray
Assistant City Attorney
City of Fort Worth 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.
Mar°lha Collins
M.— Cows —7, 1131—CDT)
Name of Employee
Title : Revitalization Coordinator
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX