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Home My WebLink AboutContract 45634-EC1 f Y SECREfAW CC1j41 RACT NO. J(0 tC�-- ESTOPPEL CERTIFICATE STATE OF TEXAS § § KNOW ALL MEN BY THESE PRESENTS: COUNTY OF TARRANT § This Estoppel Certificate (this "Estoppel") is executed by the City of Fort Worth, a home rule municipal corporation of Tarrant County, Texas (the "City") to be effective as of June 25, 2015. WHEREAS, the City and Corridor Village Texas, LLC ("Corridor") entered into that certain Easement Encroachment License Agreement dated May 29, 2014 (the "License"), allowing an encroachment of signage related to 3808 Post Oak Boulevard (the "Property") onto an easement held by the City. WHEREAS, Corridor has entered into a Real Estate Sale Agreement dated April 6, 2015, for the sale of the Property to Palo Alto Equity Enterprises, LLC ("Purchaser"), as successor to the initial purchaser under the agreement. WHEREAS, Purchaser intends to finance the purchase of the Property with a loan (the "Loan") from Red Mortgage Capital, LLC ("Lender"). WHEREAS, in connection with the sale of the Property and the closing of the Loan, Purchaser and Lender require that the City certify certain facts as provided herein. NOW THEREFORE, The City hereby certifies the following: (1) The License has not been amended or modified and is in full force and effect as originally executed, except as otherwise expressly disclosed herein. Corridor is not in default in any respect under the License and has complied in all respects with its obligations under the License. (2) Corridor has obtained all approvals required under the License and has complied with all construction, maintenance, and operation requirements under the License. (3) The City does not have any offsets, defenses, or claims or counterclaims against Corridor under the License. (4) Corridor has paid the annual fee due under the License in the amount of $8.96 through May 28, 2016, and the next payment of such fee is due on May 28, 2016. m C-) The City executes this Certificate with the knowledge that it will be relied upon by Purchaser and Lender, and their successors and assigns, in connection the purchase of the o Property and the Loan. This Certificate shall be binding upon the City. c z ca ESTOPPEL CERTIFICATE Page 1 CSC No. 45634—3808 Post Oak Boulevard Rev. 06.19.2015 EXECUTED to be effective as of June 25, 2015. CITY: The City of Fort Worth, a home rule municipal corporation of Tarrant County, Texas By: .6 ILI Rand jeH wood, Nreltor Planning and Development Department ATTEST: IF OR p. Approved as to form and legality: � A-cIVA v A0 6ty Secretary �1 °^10% 0aa Assistant City Attorney [No M&C required] - TEXAg STATE OF TEXAS COUNTY OF TARRANT BEFORE ME, the and s'gned t ority, otary Public i • id for the State of Texas, on this day 71 personally appeared to me to be the person whose name is subscribed to t e foregoing instrument, and acknowledged to me that he/she 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 day o 2015. + �"' CASSANDRA F. FOREMAN Notary Public,Stote of Texas ar My Commission Expires Apfll26. 2017 No ublic in and for the tate of Texas ESTOPPEL CERTIFICATE Page 2 CSC No. 45634-3808 Post Oak Boulevard Rev. 06.19.2015 Page 1 of 2 D215137725 612512015 3:59 PRA PGS 2 Fee: $20.00 Submitter: CSC ERECAM �WI, �� ,t�/1 Electronically Recorded by Tarrant County Clerk in Crfticlal Public Records rg14,,d CONT CT NO. Y- �'"� o-rr�� ►�.,:� Mary Louise Garcia ESTOPPEL CERTIFICATE STATEOF-TEXi1-S— ----- - - --- - - - --- -- § KNOW ALL MEN BY THESE PRESENTS: j COUNTY OF TARRANT § This Estoppel Certificate (this "Estoppel' is executed by the City of Fort Worth, a home f rule municipal corporation of Tarrant County, Texas (the "City") to be effective as of June 25, 2015. i WHEREAS, the City and Corridor Village Texas, LLC ("Corridor") entered into that 4 certain Easement Encroachment License Agreement dated May 29, 2014 (the "License"), II allowing an encroachment of signage related to 3808 Post Oak Boulevard (the "Property") onto an easement held by the City. V f WHEREAS, Corridor has entered into a Real Estate Sale Agreement dated April 6, 2015, for the sale of the Property to Palo Alto Equity Enterprises, LLC ("Purchaser"), as successor to the initial purchaser under the agreement. WHEREAS Purchaser intends to finance the purchase of the Property with a loan (the "Loan") from Red Mortgage Capital, LLC ("Lender"). _ WHEREAS, in connection with the sale of the Property and the closing of the Loan, i Purchaser and Lender require that the City certify certain facts as provided herein. f NOW THEREFORE, The City hereby certifies the following: j (1) The License has not been amended or modified and is in full force and effect as originally executed, except as otherwise expressly disclosed herein. Corridor is not in default in any respect under the License and has complied in all respects with its obligations under the License. (2) Corridor has obtained all approvals required under the License and has complied with all construction,maintenance, and operation requirements under the License. (3) The City does not have any offsets, defenses, or claims or counterclaims against Corridor under the License. (4) Corridor has paid the annual fee due under the License in the amount of $8.96 ;o through May 28, 2016, and the next payment of such fee is due on May 28, 2016, m rnn The City executes this Certificate with the knowledge that it will be relied upon by Purchaser and Lender, and their successors and assigns, in connection the purchase of the o Property and the Loan. This Certificate shall be binding upon the City. .. c CO t_ _s CERTIFICATE Page 1 CSC No. 45634—3808 Post Oak Boulevard Rev. 06.19.2015 +(�� i i THIS DOCUMENT HAS BEEN STEWAW TITLE ELECTRONICALLY RECORDED [ :S3D9b*l551 DM Page 2 of 2 EXECUTED to be effective as of June 25, 2015. CITY: The City of Fort Worth, a home rule municipal corporation of Tarrant County, Texas By: Lod,and.JH oire for Planning and Development Department ATTEST: >rQ�1,, Approved as to form and legality: a , kc ity Secretary °°oo Assistant City Attorney [No M&C required] T�)Cp1g STATE OF TEXAS COUNTY OF TARRANT BEFORE ME, the and 'gned ority, otary Public id for the State of Texas, on this day personally appeared to me to be the person whose name is subscribed tote foregoing instrument, and acknowledged to me that he/she 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_�� day o 2015. ,�._.�..,..... CASSANDRA F.FOREMAN pY 6 Notary Public,State of taxw My Commission Expires «' Apill 26, 2017 No� ublic in and for the tate of Texas ESTOPPEL CERTIFICATE Page 2 CSC No.45634—3808 Post Oak Boulevard Rev.06.19.2015