HomeMy WebLinkAboutContract 46543 CITY SECRETAV L2CONTRACT NO,
CONTRACT OF SALE AND PURCHASE
THIS CONTRACT OF SALE AND PURCHASE ("Contract") is made and entered into by and
between the CITY OF FORT WORTH, TEXAS, a home rule Municipal Corporation of the State
of Texas, acting by and through its duly authorized City Manager or Assistant City Manager
("Purchaser") and Mark A. Coleman and Kristy K. Coleman ("Seller"), as of the date on which
this Contract is executed by the last to sign of Seller and Purchaser ("Effective Date").
RECITALS
1. Seller is the owner of a tract of land known as Lot 8, Block 6, Lakeland Addition, Fort
Worth, Tarrant County, Texas, together with any easements, rights-of-way, licenses,
interests, and rights appurtenant thereto (collectively, the "Property").
2. Purchaser is a municipal corporation that desires to acquire the Property.
3. Seller desires to sell the Property for fair market value.
AGREEMENT
In consideration of the mutual covenants in this Contract, Seller and Purchaser agree as
follows:
Section 1. Sale and Purchase.
(a) Seller agrees to sell and convey the Property to Purchaser, and Purchaser agrees to
purchase and accept the Property from Seller, for the purchase price (as defined below), subject
to the terms and conditions set forth in this Contract.
(b) Seller shall convey the Property to Purchaser free and clear of all liens, claims,
easements, rights-of-way, reservations, restrictions, encroachments, tenancies, and any other
encumbrances (collectively, the "Encumbrances") except the Encumbrances appearing in the
Title Commitment and the survey (as defined below) that are not cured and that are subsequently
waived pursuant to Section 3 ("Permitted Encumbrances").
C-) (c) Seller shall retain all rights of title and interest in any mineral rights in the
rn Property provided, however, Seller hereby waives and relinquishes access to any use of the surface of the
rrn Property.
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(d) Any items remaining in or on the Property after the expiration of ninety (90) days
Z%') after the closing shall become the property of Purchaser.
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8521 Shelby Lane OFFICIAL RECORD
CITY SECRETARY
Page 1 of 10 FT. WORTH, TX
(e) The Property is being sold "AS-IS, WHERE-IS, AND WITH ALL FAULTS."
Purchaser is hereby notified that the improvements on the Property are not insured.
(f) The parties agree that Seller may remove and retain ownership of the following
fixtures and items from the Property:
(1) Double gates on fence leading to back yard;
(2) Water heater;
(3) Handicapped toilet (master bath);
(4) Three ceiling fans;
(5) Copper light fixture in living room;
(6) Air conditioner, both interior and exterior;
(7) Double sliding doors (interior of house between kitchen and dining room);
(8) Mirrored closet doors (2nd bedroom); and
(9) Shed in backyard.
Section 2. Independent Contract Consideration, Earnest Money and Purchase Price.
(a) Contemporaneously with the execution of this Contract, Purchaser will deliver to
Seller a check in the amount of Fifty Dollars and 00/100 Dollars ($50.00) ("Independent
Contract Consideration") as independent consideration for Seller's execution, delivery and
performance of this Contract. This Independent Contract Consideration is in addition to and
independent of any other consideration or payment provided for in this Contract, is non-
refundable, and shall be retained by Seller notwithstanding any other provision of this Contract;
however, upon Closing (as hereinafter defined), the Independent Contract Consideration shall be
applied as a credit toward the Purchase Price (as hereinafter defined).
(b) The purchase price ("Purchase Price") for the Property, payable by Purchaser to
Seller at closing (as defined below), is ONE HUNDRED FIFTY THOUSAND and 00/100
DOLLARS ($150,000). Seller has determined that the Purchase Price reflects the fair market
value of the Property.
(c) Within 10 business days of the Effective Date, Purchaser shall deliver to Alamo
Title Company ("Title Company") a check or wire in the amount of One Thousand Dollars and
00/100 Dollars ($1,000.00) ("Earnest Money"). At Closing, the Earnest Money shall be applied
as a credit toward the Purchase Price.
Section 3. Title Commitment and Survey.
(a) Within thirty (30) days after the Effective Date, Purchaser shall obtain at
Purchaser's sole cost and expense (i) a Commitment for Title Insurance ("Title Commitment")
from the Title Company, setting forth the status of the title of the Property and showing all
Encumbrances and other matters, if any, relating to the Property; and (ii) a legible copy of all
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documents referred to in the Title Commitment, including but not limited to, plats, reservations,
restrictions, and easements.
(b) Within thirty (30) days after the Effective Date, If Seller does not have a survey of
the property satisfactory to the Purchaser, in Purchaser's sole discretion, then within thirty (30)
days after the Effective Date of this Contract, Purchaser may obtain a new survey of the Property
(the "Survey") at Purchaser's sole cost and expense. The description of the Property prepared as
a part of the Survey will be used in all of the documents set forth in this Contract that require a
legal description of the Property.
(c) If the Title Commitment or Survey discloses any Encumbrances or other matters
which are not acceptable to Purchaser in Purchaser's sole discretion, then Purchaser shall give
Seller written notice thereof within fifteen (15) days after receipt of the Title Commitment,
Survey and all documents referred to in the Title Commitment, specifying Purchaser's objections
("Objections"), if any. If Purchaser gives such notice to Seller, Seller shall use reasonable efforts
to cure the Objections, but shall be under no obligation to do so.
(d) If Purchaser gives notice of Objections and Seller does not cure the Objections,
cause the Title Commitment and Survey to be amended to give effect to matters that are cured,
and give Purchaser written notice thereof within the fifteen (15) day period following receipt of
the notice of Objections from Purchaser ("Cure Period"), Purchaser shall have the right either (i)
to terminate this Contract by giving written notice thereof to Seller at any time after the
expiration of such Cure Period and, upon such termination, neither party hereto shall have any
further rights or obligations, or (ii) to waive the Objections and consummate the purchase of the
Property subject to the Objections which shall be deemed to be Permitted Encumbrances.
Notwithstanding the foregoing sentence, if Seller has commenced curing the Objections and is
diligently prosecuting the same, as determined by Purchaser in Purchaser's sole discretion, then
Purchaser in Purchaser's sole discretion may extend the Cure Period for an amount of time
Purchaser deems necessary for Seller to cure the same.
Section 4. Review Reports. Within five (5) days after the Effective Date, Seller shall
deliver to Purchaser for Purchaser's review any and all environmental or engineering reports and
studies in Seller's possession concerning the Property ("Reports").
Section 5. Tests. Purchaser, at Purchaser's sole cost and risk, shall have the right to
go on to the Property, including the Improvements, to make inspections, surveys, test borings,
soil analysis, and other tests, studies and surveys, including without limitation, environmental
and engineering tests, borings, analysis, and studies ("Tests"). Any Tests shall be conducted at
Purchaser's sole risk and expense, and Purchaser agrees to indemnify and defend Seller and the
Property from any liens and claims resulting from such Tests. The Property will be restored by
Purchaser to its original condition at Purchaser's sole expense following any site work.
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Section 6. Option Period.
(a) Notwithstanding anything to the contrary contained in this Contract, until sixty
(60) days after the Effective Date ("Option Period"), the following is a condition precedent to
Purchaser's obligations under this Contract:
Purchaser being satisfied in Purchaser's sole and absolute discretion that the
Property is suitable for Purchaser's intended uses, including, without limitation,
Purchaser being satisfied with the results of the Tests (defined in Section 5
above).
(b) If Purchaser is not satisfied in Purchaser's sole and absolute discretion as to the
condition precedent described in Section 6 (a) above, Purchaser may give written notice thereof
to Seller on or before the end of the Option Period, whereupon this Contract shall terminate.
Upon such termination, neither party shall have any further rights or obligations under this
Contract.
(c) If Purchaser gives notice of Contract termination to Seller under this Section, any
Earnest Money shall be returned to Purchaser.
(d) The provisions of this Section 6 control all other provisions of this Contract.
(e) The parties agree that the Option Period will not be extended upon expiration
without a written amendment signed by both parties.
Section 7. Closing Contingencies
(a) The closing ("Closing") of the sale of the Property by Seller to Purchaser shall
occur through the office of the Title Company in no more than (15) days after the satisfaction of
the following contingencies to Closing ("Closing Contingencies"), but not later than May 26,
2015. The Closing Contingencies are as follows:
(1) Any easements conveyed to the City will be at no cost to the City; and
(2) The transaction must be approved by the Fort Worth City Council at a city
council meeting.
(b) Purchaser agrees to pursue the approvals and agreements described in the Closing
Contingencies above with reasonable diligence. Seller agrees to cooperate fully with Purchaser
in connection with Purchaser's pursuit of the above approvals.
(c) If any Closing Contingencies are not satisfied to Purchaser's satisfaction so that
Purchaser is prepared to close on or before May 26, 2015 then Purchaser must terminate this
Contract, and upon the termination, Seller shall retain the Earnest Money and any interest earned
and neither party will have any further rights or obligations hereunder; however, the Closing may
be extended if the Closing Contingencies are not satisfied if agreed to in writing by the parties.
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Section 8. Closing Subject to Section (d) below, Closing shall occur no later than May
26, 2015.
(a) At the Closing, all of the following shall occur, all of which are deemed
concurrent conditions:
(1) Seller, at Purchaser's sole cost and expense, shall deliver or cause to be
delivered to Purchaser the following:
(i) A Special Warranty Deed ("Deed"), fully executed and
acknowledged by Seller, conveying to Purchaser good and indefeasible fee
simple title to the Property subject only to the Permitted Encumbrances,
with the precise form of the Deed to be determined pursuant to Section 10
below;
(ii) Any other instrument or document necessary for Title Company to
issue the Owner Policy in accordance with Section 8(a)(3) below.
(2) Purchaser, at Purchaser's sole cost and expense, shall deliver or cause to
be delivered to Seller through the Title Company federally wired funds or a
certified or cashier's check or such other means of funding acceptable to Seller, in
an amount equal to the Purchase Price, adjusted for closing costs and prorations.
(3) Title Company shall issue to Purchaser, at Purchaser's sole cost and
expense, an Owner Policy of Title Insurance ("Owner Policy") issued by Title
Company in the amount of the Purchase Price insuring that, after the completion
of the Closing, Purchaser is the owner of indefeasible fee simple title to the
Property, subject only to the Permitted Encumbrances, and the standard printed
exceptions included in a Texas Standard Form Owner Policy of Title Insurance;
provided, however, the printed form survey exception shall be limited to
"shortages in area," the printed form exception for restrictive covenants shall be
deleted except for those restrictive covenants that are Permitted Encumbrances,
there shall be no exception for rights of parties in possession, and the standard
exception for taxes shall read: "Standby Fees and Taxes for the year of Closing
and subsequent years, and subsequent assessments for prior years due to change
in land usage or ownership";
(4) Seller and Purchaser shall each pay their respective attorneys' fees.
(5) Purchaser shall pay all closing costs.
(b) Ad valorem and similar taxes and assessments, if any, relating to the Property
shall be prorated between Seller and Purchaser as of the Closing, based on estimates of the
amount of taxes that will be due and payable on the Property during the calendar year in which
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the Closing occurs. As soon as the amount of taxes and assessments on the Property for that year
is known, Seller and Purchaser shall readjust the amount of taxes to be paid by each party with
the result that Seller shall pay for any taxes and assessments applicable to the Property up to and
including the date of Closing, and Purchaser shall pay for those taxes and assessments applicable
to the Property after the Closing. The provisions of this Section 8(b) survive the Closing.
(c) Upon completion of the Closing and funding, Seller shall deliver possession of
the Property to Purchaser, free and clear of all tenancies of every kind.
(d) If Purchaser is not prepared to close on or before May 26, 2015, the Closing may
be extended if agreed to in writing by the parties.
Section 9. Agents. Seller and Purchaser each represent and warrant to the other that
neither has engaged the services of any agent, broker, or other similar party in connection with
this transaction.
Section 10. Closing Documents. No later than two (2) days prior to the Closing, Seller shall
deliver to Purchaser a copy of the Special Warranty Deed, which is subject to Purchaser's
reasonable right of approval.
Section 11. Notices.
(a) Any notice under this Contract shall be in writing and shall be deemed to have
been served if (i) delivered in person to the address set forth below for the party to whom the
notice is given, (ii) delivered in person at the Closing (if that party is present at the Closing), (iii)
placed in the United States mail, return receipt requested, addressed to such party at the address
specified below, or (iv) deposited into the custody of Federal Express Corporation to be sent by
FedEx Overnight Delivery or other reputable overnight carrier for next day delivery, addressed
to the party at the address specified below.
(b) The address of Purchaser under this Contract is:
City of Fort Worth With a copy to:
1000 Throckmorton Street Leann D. Guzman
Fort Worth, Texas 76102 City Attorney's Office
Attention: Bette Chapman City of Fort Worth
Real Property Services Division 1000 Throckmorton
Fort Worth, Texas 76102
(c) The address of Seller under this Contract is:
Mark A. Coleman & Kristy K. Coleman
P.O. Box 1705
Springtown, Texas 76082
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(d) From time to time either party may designate another address under this Contract
by giving the other party advance written notice of the change.
Section 12. Termination, Default, and Remedies.
(a) If Purchaser fails or refuses to consummate the purchase of the Property pursuant
to this Contract at the Closing for any reason other than termination of this Contract by Purchaser
pursuant to a right so to terminate expressly set forth in this Contract or Seller's failure to
perform Seller's obligations under this Contract, then Seller, as Seller's sole and exclusive
remedy, shall have the right to terminate this Contract by giving written notice thereof to
Purchaser prior to or at the Closing, whereupon neither party hereto shall have any further rights
or obligations hereunder.
(b) If Seller fails or refuses to consummate the sale of the Property pursuant to this
Contract at Closing or fails to perform any of Seller's other obligations hereunder either prior to
or at the Closing for any reason other than the termination of this Contract by Seller pursuant to a
right so to terminate expressly set forth in this Contract or Purchaser's failure to perform
Purchaser's obligations under this Contract, then Purchaser shall have the right to terminate this
Contract by giving written notice thereof to Seller prior to or at the Closing and neither party
hereto shall have any further rights or obligations hereunder.
Section 13. Entire Contract. This Contract contains the entire contract between Seller and
Purchaser, and no oral statements or prior written matter not specifically incorporated herein is
of any force and effect. No modifications are binding on either party unless set forth in a
document executed by that party.
Section 14. Assigns. This Contract inures to the benefit of and is binding on the parties and
their respective legal representatives, successors, and assigns. Neither party may assign its
interest under this Contract without the prior written consent of the other party.
Section 15. Taking Prior to Closing. If, prior to Closing, the Property or any portion thereof
becomes subject to a taking by virtue of eminent domain, Purchaser may, in Purchaser's sole
discretion, either (i) terminate this Contract and neither party shall have any further rights or
obligations hereunder, or (ii) proceed with the Closing of the transaction with an adjustment in
the Purchase Price to reflect the net square footage of the Property after the taking.
Section 16. Governing Law. This Contract shall be governed by and construed in
accordance with the laws of the State of Texas.
Section 17. Performance of Contract. The obligations under the terms of the Contract are
performable in Tarrant County, Texas, and any and all payments under the terms of the Contract
are to be made in Tarrant County, Texas.
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Section 18. Venue. Venue of any action brought under this Contract shall be in Tarrant
County, Texas if venue is legally proper in that County.
Section 19. Severability. If any provision of this Contract is held to be invalid, illegal, or
unenforceable in any respect, such invalidity, illegality, or unenforceability will not affect any
other provision, and this Contract will be construed as if such invalid, illegal, or unenforceable
provision had never been contained herein.
Section 20. Business Days. If the Closing or the day for performance of any act required
under this Contract falls on a Saturday, Sunday, or federal or City of Fort Worth holiday, then
the Closing or the day for such performance, as the case may be, shall be the next following
regular business day.
Section 21. Counterparts. This Contract may be executed in multiple counterparts, each of
which will be deemed an original, but which together will constitute one instrument.
[SIGNATURES APPEAR ON THE FOLLOWING PAGE]
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This Contract is EXECUTED as of the Effective Date.
SELLER:
M rk . Co Kristy K. Co ma
PURCHASER:
CITY OF FORT WORTH, a Texas municipal corporation
By / tiLY�Awilo ��
Fernando Costa, Assistant City Manager
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APPROVED AS TO LEGALITY AND FORM
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FOFFICIALRECORD
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8521 Shelby Lane TH,TX
Page 9 of 10
By its execution below, Title Company agrees to perform its other duties pursuant to the
provisions of this Contract.
TITLE COMPANY:
By:
Name:
Title:
Date:
8521 Shelby Lane
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i M&f Review Page 1 of 2
Official site of the City of Fort Worth,Texas
CITY COUNCIL AGENDA FQRTWRT[i
COUNCIL ACTION: Approved on 7/15/2014 -Ordinance No. 21306-07-2014
DATE: 7/15/2014 REFERENCE NO.: **L-15698 LOG NAME: 178621 SHELBY
CODE: L TYPE: CONSENT PUBLIC NO
HEARING:
SUBJECT: Authorize Purchase of Property Located at 8521 Shelby Lane from Mark A. Coleman and
Kristy K. Coleman in the Amount of$150,000.00 plus Approximately $10,000.00 in
Closing Costs, Dedicate Property as Parkland for the Fort Worth Nature Center and
Refuge and Adopt Appropriation Ordinance (COUNCIL DISTRICT 7)
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in
the Park Dedication Fees Fund in the amount of$160,000.00 from available funds;
2. Approve the purchase of the property located at 8521 Shelby Lane from Mark A. Coleman and
Kristy K. Coleman in the amount of$150,000.00 plus closing costs estimated at$10,000.00;
3. Authorize the execution of the appropriate closing documents to complete the purchase; and
4. Accept the property and dedicate the property as parkland upon acceptance.
DISCUSSION:
The Lakeland Addition is a small residential neighborhood surrounded by the Fort Worth Nature
Center and Refuge. There are currently 35 privately-owned properties within this neighborhood area.
Over the past several years, the City has been acquiring properties in the Lakeland subdivision as
they have become available. As the City has acquired the properties, they have been integrated into
the Fort Worth Nature Center and Refuge as endorsed in the Nature Center Master Plan approved by
City Council on June 17, 2003 (M&C G-13998). The City has acquired 13 of the original total of 48
privately-owned properties in the area to date.
Staff has recently identified another property in the Lakeland Addition that is for sale. This property is
an improved residential lot. Integration of this property is essential for the future development of the
Fort Worth Nature Center and Refuge. The property is further described as follows:
Owner Address Purchase Closinq Total
Price Costs
Mark A. 8521
Coleman and Shelby $150,000.00 $10,000.00 $160,000.00
Kristy K.
Coleman
This property was appraised by an independent appraiser. Staff considers the cost to be fair and
reasonable and recommends the purchase of this property. This purchase will be the 14th acquisition
in the neighborhood.
httn://anns_cfwnet_org/council nacketJmc review_asn?TD=199949rcrninciliinte=7/15/?014 ?/77/7(115
M&C Review Page 2 of 2
In order to advance the Fort Worth Nature Center Master Plan, this purchase will be paid from Park
Dedication Fees interest funds with the intention that upon the leasing of the minerals contained
within the Fort Worth Nature Center property and distributed, pursuant to the current Financial
Management Policy, the funds will be reimbursed to the Park Dedication Fees Fund.
The Seller will sell the property AS IS and will retain all mineral rights, but will grant the City a surface
waiver.
The property is located in COUNCIL DISTRICT 7.
FISCAL INFORMATION/CERTIFICATION:
The Financial Management Services Director certifies that upon approval of the above
recommendations and adoption of the attached appropriation ordinance, funds will be available in the
current capital budget, as appropriated, of the Park Dedication Fees Fund.
TO Fund/AccounVCenters FROM Fund/AccounVCenters
C281 541200 801909990100 $160.000.00 C281 541100 801410027141 $160,000.00
C281 441012 801909990100 $160.000.00
Submitted for City Manager's Office by: Fernando Costa (6122)
Originating Department Head: Jay Chapa (5804)
Additional Information Contact: Cynthia Garcia (8187)
ATTACHMENTS
178621 SHELBY AO.docx
8521 Shelby Lane Map.pdf
httn://anns.cfwnet.org/council packet/mc review_asn?TT)=19994�k.crnrncildate=7/15/7014 7/77/7(115