HomeMy WebLinkAboutContract 1257THE STATE OF TMUS C010114YTRUEOCT 140
COUNTY OF TARRANT
THE K. M. VAITt zAJTJT LAJjD C0L2MTY, a corporation, of
the State of Texas, hereinafter called the I-and Company, hereby
agrees to sell, and the CITY OF FORT ',.70LUH, a municipal corpora-
tion, hereinafter called the City, agrees -to buy, at and for the
price of OUE HU1%TDRD-D &UM FI.Jj`TY TH0UUd,-.D DOTZARS (,1150,000.00) to
be paid in cash upon delivery of deed, the following described
3ands situated in. the J. P. Montgomely and. J. 1,1. C. lynch Surveys
in Tarrant County, Texas, particularly described as follows:
Begiiuxing at the intersect ion of the South line of
Camp Bowie Boulevard with the ':rest line of Arch
Adams Street extended; thence along -the southward
side of Camp Bowie Boulevard, a distance of 1302.6
feet, to the Hutchins property; thence South with
the Hutchins' East line 266 feet to the Southeast
corner thereof; thence "Jest 176 feet to Hutchins'
Southwest corner; thence 15orth 176.6 feet to Camp
Bowie Boulevard; thence continuing with the South
line of Camp Bowie Boulevard, a distance of 366.8
feet, to the intersection of said line with East
line of 1.1ontgomer-,ir Street, an iron pin; thence South
with the East line of IlzolltgOMerLl ':street 1298.5 feet
to iron pill at intersectioli with the North line of
BlaReley Avenue, as shown on the Brookes B.,01cca., map
made in 1928; *thence Eastward with the Borth line of
Blakeley Avenue, crossing the switch -track of the
St. louis, S. F. a T. Ry. Co., and continuing oil in
the same direction with the Hor-th line of Blakeley
Avenue, a distance of 4:069.6 feet, to its inter-
section with the *,,'est line of Par-Ir- Drive, an iron
pin; -thence following the '.lest- 1: xie of said Park
Drive in a general northeasterly CLirectioaa, to an
iron pill which is at a point 20;'g feet East of -the
Southwest corner of the Chevrolet, 1-dotor Company prop-
erty; thence "west 2404' feet to the said Southwest
corner of the Chevrolet motor Company property;
thence Horth, crossing said railway rielit of way;
358.4 feet; thence Nest 60 feet; thence I-Torth with
the West line of Poch Street 530.1 feet to all iron
pin on the South line of Pelham Street at its inter-
section with the '.est line of Foch Street; thence
-westward with the South line of Pelham Street, 1650
feet t'o a point 34 feet South of the Southeast coluer
of the public school property, an iron pin; thence
South 26 feet; thence ">est parallel w ith the South
lind of tul-e public school property, to a point 60 feet
west of the :rest line of the public school property
projected. South; thence North 60 feet -,,lest of 'the
public school property an(I the Isaac Van Zandt prop-
erty, to the point of beginning.
This description is intended to illal-Lide iiat is known
as th Van Zandt West Side Addition, together with
will tender to the City a good and sufficient general warranty
deed of even date herewith to the above described property con-
taining substantially the provisions of this contract, at which
time the City will make payment in cash of the consideration there-
for. However, this contract is made with the express understand-
ing and provision that it shall become void- if the City of Fort
Worth shall be unable to obtain the money from the Public Works
Administration, -which has heretofore been granted to be used by
the City of Fcv..t 11Torth for the project for which bonds were recent-
ly voted, and authorized for pleasure grounds, park and playgrounds.
This contract is to be ;,consummated by the delivery of
deed and the contemporaneous payment of the money as speedily as
possible, not exceeding thirty (30) clays from the date hereof, pro-
vided., however, in the event the purchase money is not available
from the sale of the authorized issue of parks, playgrounds and
pleasure ground bonds, such time is to be extended only until said
funds are available, not exceeding six (6) months from date hereof.
However, the City of Fort -.--'Yorth agrees to pay four percent (4%)
interest per annum on the said purchase price from and after thirty
(30) days from the date hereof until said purchase price is paid,
in the event said property is purchased.
Provided further, that if the City shall permanently
abandon the whole project and every part thereof for which this
property Is being bought, and it shall so notify the Land Company
in writing within six (6) months from the date hereof and shall pay
to the said land Company the sum of Three Thousand Tollars
($3,000.00) for its outlay and expenses in connection with this
contract, then the City will be released- herefrom, except said sum
shall not be payable in the event such notice Is given within sixty
(60) days from date hereof, provided., however, that if the said
City shall subsequently re-enter upon said project, or any part
thereof, then this contract will, at the option of the said Land
Company, again becoi-ae binding and enforcible.
-3-
I
'Provided, further, tbat if at any time after sixty (60)
clays from the date hereof andwithin said six (6) months period
above mentioned the Land Company shall receive a bona fide offer
for the pirchas.e of said property, the City will, upon receiving
written notice thereof to the Mayor or City Secretary of the City
of Fart Xorth, pay the purchase price as herein provided with
interest as herein stipulated, and accept a deed to said property,
or will t1thin ten (10) days make an agreement, without condition,
to purchase said property and pay the said purcha.se price thereof,
together with the interest thereon, within the time and in the
manner herein provided, or will forfeit all rights hereta-ifter.
This contract of sale has been authorized by the direc-
tors of the said Land Company and by the City Council of Fort
�A'Vorth.
VTITUESS TM-3 SIGNATURES AID SEALS of both parties here-
/
to, this the clay of December, A. D. 1935.
THU' K. M. VAN ZABTDT LAND COMPXTY
BY &. _
ATT
ary
THE 0 T OF FORT VMRTH
BY
ATTEST y
.,
S�
"Vitt' Becreloary
-4-
I