HomeMy WebLinkAboutContract 47783 s
CITY SECPSTAJW
CONTRACT 110. b
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
'Cexas, acting by and through its duly authorized City Manager or Assistant City Manager("Purchaser")
and DANNY TA fka DUNG DINII TA, CHARLIE TA flea CHONG DINH HOANG TA, AND LOC
DINH TA ("Seller"), as of the date on which this Contract is executed by the last to sign of Seller and
Purchaser("Effective Date").
AGREEMENT
In consideration of the mutual covenants in this Contract, Seiler and Purchaser agree as follows:
Section 1, Sale and Purchase.
(a) Seller agrees to sell and convey to Purchaser and Purchaser agrees to purchase and accept
from Seller, on and subject to the terns and conditions set forth in this Contract approximately 14.076
acres known as Lot 1,Block A, Ta Addition,an addition to the City of fort Worth,Tarrant County,Texas
as indicated on the plat filed of record, instrument number D197216461 in the Tarrant County Deed
Records (also known as 1229 McPherson Road, Fort Worth, Texas) (the "Land"), which Land is more
particularly described on the attached Exhibit "A", which is attached hereto and incorporated herein by
reference f'or all purposes, together with the following specifications that relate only to Seller's interest in
the Land (i)all buildings, fixtures, structures and improvements thereon; (ii) all roads, alleys, rights-of-
way,casements,streets and ways adjacent to or serving the Land and rights of ingress and egress thereto,
whether surface, subsurface or otherwise; (iii)all of Seller's rights, titles and interest, if any, in and to all
water rights or any kind or character pertaining to the band; and (iv) all licenses, interests, and rights
appurtenant to the Land. The Land and Items(i)-(iv)are collectively referred to as the"Prvperty".
(b) Seller shalt convey the Property to Purchaser fry 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 (hereinafter defined) that are not cured and that are subsequently waived
pursuant to Section 3 ("Permitted Encumbrances").
(c) Notwithstanding anything to the contrary, Seller hereby retains and reserves from this
conveyance (and the Property does not include) for itself, and its successors and assigns, any and all
interest in any and all oil, gas and other minerals in, on, or under the Land owned by Seiler, if any;
provided, however, Seller hereby waives and relinquishes access to any use of the surface of the Property
subsequent to the Closing of the transaction contemplated herein.
Section 2. Independent Contract Consideration aid Purchase Price.
(a) Contemporaneously with the execution of this Contract, Purchaser delivers to Seller a
check in the amount of FIFTY 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
CFW Purchase of Lot 1,Block 1,Ta Addition F
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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("Purebase Price")for the Property,payable by Purchaser to Seller at
Closing (as hereinafter defined), is TWO HUNDRED THOUSAND DOLLARS and 001100
DOLLARS(5200,000.00).
Section 3. Title CQmmhment and Survey.
(a) Within fifteen (I5) business days after the Effective Date, Purchaser shall obtain at
Purchaser's sole cost and expense,a Commitment for Title Insurance("Title Commitment") from Alamo
Title Company, 2900 South Hulen Street,Suite 30,Fort Worth,Texas 76109,Telephone: (817)370-7393,
Attention, Lavonne Kcith(the "Title Company"). The Title Commitment shall be effective as of a date
which is on or after the Effective Data;, showing Seller as the record title owner of the Land, and shall
show all Encumbrances and other matters, if any, relating to the Property. The Title Company shall also
deliver contemporaneously with the Title Commitment legible copies of all documents referred to in the
Title Commitment,including but not limited to,plats,reservations,restrictions,and easements.
(b) Seller has not provided Purchaser with an existing survey of the Property. Purchaser may
obtain a survey of the Property("Survey")at Purchaser's sole cost and expense. The Survey shall consist
of a plat and field note describing the Property, prepared pursuant to a current on-the-ground staked
survey performed by a registered public surveyor or engineer satisfactory to Purchaser and Title
Company. The Survey shall (i)be certified to Purchaser, its successors and assigns, and Title Company,
(ii) reflect the actual dimensions of and the total number of square feet within the Property net of any
portion thereof lying within a publicly dedicated roadway or a utility casement,(iii) identify any rights-of-
way, easements, or other Encumbrances by reference to applicable recording data, and (iv) include the
Surveyor's registered number and seal and the date of the Survey. in the event that Purchaser does not
obtain its own Survey,the description of the Property prepared as a part of the survey provided by Seller
will be used in all of the documents set forth in this Contract that require a legal description of the
Property. Otherwise, the description of the Property prepared as part of the Survey will be used in all of
the documents sett forth in this Contract that require a legal description of the Property.
(c) Purchaser shall have a period of time ("Title Review Perm") commencing on the
Effective Date and ending fifteen(I5) business days after the Fflective Date in which to notify Seller in
writing of any objections("Objections")Purchaser has to any matters shown on the Title Commitment or
the Survey.
(d) Seller shall have the option, but not the obligation, to remedy or remove all Objections
(or agree irrevocably in writing to remedy or remove all such Objections at or prior to Closing)during the
period of time (the "Care Period") ending on the tenth (10 ) business day after Seller's receipt of
Purchaser's notice of such Objections. Except to the extent that Seller cures, or agrees in writing to cure,
such Objections during the Cure Period, Seller shall be deemed to have elected not to cure such matters,
If Seller is, or is deemed to be, unable or unwilling to remedy or cause the removal of any Objections(or
agree irrevocably to do so at or prior to Closing)within the Cure Period, then either(t) this Contract may
be terminated in its entirety by Purchaser by giving Seller written notice to such effect during the period
of time(the "Termination Period")ending on the fifth(5'") business day following the end of the Cure
Period, and the parties shall be released of further obligations under this Contract; or (ii) any such
Objections may be waived by or on behalf of Purchaser, with Purchaser to be deemed to have waived
CFW Purchase of Lot 1,Block 1,Ta Addition
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such Objections if notice of termination is not givtn within the Termination Period. Any title
encumbrances or exceptions which are set forth in the Title Commitment or the Survey and to which
Purchaser does not object within Title Review Period (or which are thereafter waived or deemed to be
waived by Purchaser) shall be deemed to be permitted exceptions (the "Permitted Exceptions")to the
status of Seller's title to the Property.
(d) Any other provision herein to the contrary notwithstanding,(i)all exceptions disclosed in
the Title Commitment(or any subsequent commitment) which arise on or after the Effective Uate of this
Contract and arc not attributable to actions by Purchaser and (ii) all Objections that Seller agrocs in
writing to cure at or prior to Closing(collectively,the"Mandatory Cure Items")shall be satisfied,cured
or removed by Seller,at Seller's sole cost and expense,at or prior to Closing.
Section d. Due D ' ence Documents. Seller shall provide Purchaser with any and all due
diligence documents, including but not limited to (i) any and all tests, construction plans, studies and
investigations relating to the Property and the operation and maintenance thereof, including, without
limitation, any soil tests, engineering reports or studies, and any Phase I or other environmental audits,
reports or studies of the Property; (ii) any and all information regarding condemnation notice(s�
proceedings and awards affecting the Property; and (iii) all proposed or existing private covenants,
conditions and restrictions, of which the Property will be a part and any other private agreements
affecting the use or development of the Prop" (the "Due Diligence Material"). Upon Purchaser's
request, Saila will also make the Due Diligence Material electronically available,to the extent feasible.
Sectio»S. Taft. 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, i
borings, analysis, and studies("Testa"). Any Tests shall be conducted at Purchaser's sole expense. At
the conclusion of the Tests,the Property will be restored by Purchaser, at Purchaser's sole expense,to at
least a similar condition as before the Tests were conducted. in the event this transaction does not close
for any reason whatsoever, the Purchaser shall release to Seller any and all independent studies or results
of Tests obtained during the Option Period (as defined below). Purchaser is expressly prohibited from
entering onto any land owned by Seller that is adjacent to the Property in order to conduct Tests or carry
out any due diligence activities.
Section 6. Option Period.
c,
(a) Notwithstanding anything to the contrary contained in this Contract, for the period
extending from the Effective Date until fiEandr—!$, HKr(titc:Up!Ion Period"), the following will be a
condition precedent to Purchaser's obligations under this Contra . N(a 6i 20l
Purchaser being satisfied in Purchaser's sole and absolute discretion that the Property is
suitable for Purchaser's intended use as a community park, including, without limitation,
Purchaser being satisfied with the results of the Tests(defined in Section S 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 amination,tate
Contract will terminate,and neither party shall have any further rights or obligations under this Contract.
(c) The provisions of this Section 6 control all other provisions of this Contract.
CFW Purchase of Lot 1,Black 1,To Addition
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(d) The parties agree that the Option Period will not be extended upon expiration without a
written amendment signed by bath parties.
Section 7. Closing Deadline, The closing ("Closing") of the sale of the Property by Seller to
Purchaser shall occur through the office of the Title Com/p�any on or b erre Ir4ttreh 18,-29167— 1`�(a.� G,Z a I �
Section 8. Closigg.
6tn hcSL .'
(a) At the Closing, all of the following hall occur, all of which are de cbncumetf�i'�-�
conditions:
(1) Seller, at Seller'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, convoying to Purchaser good and indefeasible fee simple title to
the Property subject only to the Permitted Encumbrances, but containing
a reservation of the mineral rights, with the precise form of the Teed to
be determined pursuant to Section 10 below;
(u) A Non-Foreign Person Affidavit, in form and substance reasonably
satisfactory to Purchaser, fully executed and acknowledged by Seller,
confirming that Seller is not a foreign person or entity within the
meaning of Section 1445 of the Internal Revenue Code of 1986, as
amended;
(iii) Evidence of authority to consummate the We of the Property as is
contemplated in this Contract or as Purchaser or the escrow agent may
reasonably request;and
(iv) Any other instrument or document necessary for Title Company to issue
the Owner Policy in accordance with Section 8(ax3)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. Purchaser shall also deliver
any other instrument or document necessary for Tide Company to issue the Owner Policy
in accordance with 8(ax3)below.
(3) Title Company shall issue to Purchaser, at Purchaser's sole cost and expense,an
Owner Policy of 'Title Insurance ("Owner Polky") issued by Title Company in the
amount of the Purchase Price insuring that, after the completion of tate Closing,Purchaser
is the owner of indefeasible foe 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 ansa," 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 patties in possession, and the
standard exception for taxes shall read: "Standby Fees and Taxes for the year of Closing
CF'W I'urchaw of Lot 1,Block 1.To Addition
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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) Seller and Purchaser shall each pay one half of all recording fees and any other
closing costs as set forth by the Title Company.
(b) Purchaser will qualify for exemption from ad valorem taxation for the Property, and no
ad valorem taxation shall accrue after the date of Closing. "I'lierefore, any ad valorem taxes assessed E
against the property for the current year shall be for the period of time the Property was owned by Seller,
and based on estimates of the amount of taxes that will be due and payable on the Property during the
current year,Seller shall pay for any taxes and assessments applicable to the Property up to and including
the date of Closing. As soon as the amount of taxes and assessments on the Property for the current year
is known, Seller shall pay any additional amount of taxes to be paid for any taxes and assessments
applicable to the Property up to and including the date of Closing. The provisions of this Section 8(b)
survive the Closing.
(c) Upon completion of the Closing, Seller shall deliver possession of the Property to
Purchaser, free and clear of all tenancies of every kind except those disclosed in the Permitted
Encumbrances.
Section 9. Seller's Rjoresentations. Seller hereby represents and warrants to Purchaser, as of the
Effective Date and as of the Closing Date,except as otherwise disclosed in written notice from Seller to
Purchaser at or prior to Closing,that to the best of Seller's actual knowledge:
(a) Seller's Authority. This Contract has been duly authorized by requisite action and is
enforceable against Seller in accordance with its terms; neither the execution and
delivery of this Contract nor the consummation of the sale provided for herein will
constitute a violation or breach by Seller of any provision of any agreement or other
instrument to which Seiler is a party or two which Seller may be subject although not a
party, or will result in or c nisiitute a violation or breach of any judgment, order, writ,
junction or decree issued against or binding upon Seller or the Property;
(b) No Pending Proceedings. There is no action, suit, proceeding or claim affecting the
Property or any portion thereof, or affecting Seller and relating to the ownership,
operation,use or occatpancy of the Property,pending or being prosecuted in any court or
by or before any federal, state, county or municipal department, commission, board,
bureau o agency or other governmental entity and no such action, suit, proceeding or
claim is threatened or asserted;
(c) Seller is Not a Foreign Person. Seller is not a foreign person or entity as defined in
Section 1445 of the Internal Revenue Code of 1986, as amended, and Purchaser is not
obligated to withhold any portion of the Sales Price for the benefit of the Internal
Revenue Service;
(d) No Insolvency Proceedings. No attachment, execution, assignment for the benefit of
creditors, receivership, conservatorship or voluntary or involuntary proceedings in
bankruptcy or pursuant to any other debtor relief laws is contemplated or has been filed
by or against Seller or the Property,nor is any such action pending by or against Seller
or the Property;
CF'W Purchase of Lot 1,Block 1,To Addition
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(e) Contract Obligations. Except as otherwise disclosed in the Title Commitment, no
lease,contract or agreement exists relating to the Property or any portion thereof which
is not terminable at will or upon not more than 30 days' prior notice except tenant
leases;
(f) No Competing Rights. No person, firm or entity,other than Purchaser, has any right to
purchase, lease or otherwise acquire or possess the Property or any part thereof;
(g) No Regulatory Violations. The Property is not in breach of any law, ordinance or
regulation, or any Girder of any court or any federal, state, municipal or other
governmental department, commission, board, bureau, agency or instrumentality
wherever located, including, without limitation,those relating to environmental matters
and hazardous waste,and no claim,action,suit or proceeding is pending or,to the best o
Seller's knowledge and belief and after due inquiry, threatened against or affecting
Seller or affecting the Property, at law or in equity, or before or by any federal, state,
municipal or other governmental department, commission, board, bureau, agency or
entity wherever located, with respect to the Property or the Seller's present use and
operation of the Property;and
(h) No Hazardous Materials. To the best of Seller's knowledge, (i) all required federal,
state and local permits concerning or related to environmental protection and regulation
for the Property have been secured and are current; (ii) Seller is and has been in full
compliance with such environmental permits and other requirements regarding
environmental protection under applicable federal, state or local laws, regulations or
ordinances;(iii)there is no pending action against Seller under any environmental law,
regulation or ordinance and Seller has not received written notice of any such action or
possible action; (iv) there is not now, nor has there been in the past any release of
hazardous substances on, over,at,from,into or onto any facility at the Property,as such
terms are understood under the Comprehensive Environmental Response,
Compensation and Liability Act; and(v) Seller does not have actual knowledge of any
environmental condition, situation or incident on, at or concerning the Property that
could reasonably be expected to give rise to an action or to liability under any law,rule,
ordinance or common law theory governing environmental protection.
Seller acknowledges that Purchaser has relied and will rely on the representations and warranties of Seller
in executing this Contract and in closing the purchase and sale of the Property pursuant to this Contract,
and Seller, during the term of this Contract, agrees to notify Purchaser promptly in the event that Seller
obtains knowledge of any change affecting any of such representations and warranties, in which event
Purchaser shall be entitled to exercise the remedies set forth in Section 14 hereof. Until and unless
Seller's warranties and representations shall have been qualified and modified as appropriate by any such
additional int'ormation provided by Seller to Purchaser, Purchaser shall continue to be entitled to rely on
Seller's representations and warranties set forth in this Contract, notwithstanding any contrary
information resulting from any inspection or investigation made by or on behalf of Purchaser. All of
Seller's representations and warranties, as so qualified and rnodified, shall survive Closing pursuant to
limitations set forth in Section 15.
Section 10. Seller's 'ovenants.
(a) Updating of Information. Seller acknowledges that Purchaser will rely upon the Title
Commitment, Survey, Due Diligence documents and other materials delivered by Seller to
Purchaser hereunder to satisfy itself with respect to the condition and operation of the
Property, and Seller agrees that, if Seller discovers that the information contained in any of
Cl!W Purchase of Lot 1,Block 1,Ta Addition
Page 6 of 13
r
the materials delivered to Purchaser hereunder is inaccurate or misleading in any respect,then
Seller shall prwnptly notify Purchaser of such changes and supplement such materials.
(b) Prohibited Activities. During the term of this Contract, Seller shall not, without the prior
written consent of Purchaser, which consent Purchaser shall have no obligation to grant and
which consent, if granted, may be conditioned in such manner as Purchaser shall deem
appropriate in the sole discretion of Purchaser. (i)grant any licenses,easements or other uses
affecting any portions of the Property; (ii) permit any mechanic's or materialman's lien to
attach to any portion of the Property; or(iii) place or permit to be placed on, or remove or
permit to be removed from, the Property any trees, buildings, structures or other
improvements of any kind.
(c) Cooperation in Permitting Activities. During the term of this Contract, Seiler may
cooperate with Purchaser upon Purchaser's request in order to obtain site plan approval, a
building permit or any other approvals required for Purchaser's proposed use of the Property
as a community park, including without limitation, signing such applications for such
approvals and other instruments as may be required. Purchaser shall bear the costs and
expenses of obtaining all such approvals except for attorneys' fees that Seller may consider
necessary in conncction with reviewing such applications and instruments, which shall be
borne solely by Seller.
Section 11. enb. Purchaser represents and warrants to Seiler that it has not engaged the services
of any agent, broker, or other similar party in connection with this transaction. Seller represents that it
has engaged Loc Truong, Universal Realty as its sole and exclusive broker(the"Broker") and shall be
solely responsible for the payment of the commission due at Closing under such representation.
Section 12. CMng Doc eats. No later 3 business days prior to the Closing, Seller shall deliver
to Purchaser copies of the closing documents (including but not limited to the Deed) for Purchaser's
reasonable right of approval.
Section 13. Not
(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 or
at Closing, (ii) delivered electronically via electronic mail to the electronic mail address set forth below
for the party to whom notice is given, (iii) placed in the United States mail, return receipt requested,
addressed to such party at the address specified below, or (v) 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 Buyer under this Contract is:
City of Fort Worth With a copy to:
1000 Throckmorton Street Leann D.Gunman
Fort Worth,Texas 76102 City Attorney's Office
Attention: Andrew Virdell City of Fon Worth
Telephone: 817-392-8379 1000 Throckmorton
Electronic mail:andrew.virdell@fon"rthtexas.com Fort Worth.Texas 76102
Telephone:(817)392-7600
Electronic mail: j.et,«� 6u&tmA*,e
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CFW Purchase of Lot 1,Block 1,Ta Addition
Pap 7of13
(c) The address of Seller under this Contract is:
DANNY TA,CHARLIE TA, LOC DINH TA With a copy to:
32121laltom Road Loc Truong
Haltom City,Texas 76117 2615 W. Pioneer Pkwy,Suite 104
Telephone:817-682-2900 Grand Prairie,TX 75051
charliecta@yahoo.com Telephone:972-897-8225
huong_m _nguyen@yahoo.com
(d) From time to time either party may designate another address or fax number under this
Contract by giving the other party advance written notice of the change.
Section 14. 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 perfimm 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 herewider.
(b) If(1)Seller fails or refuses to timely consummate the sale of the Property pursuant to this
Contract at Closing,(2)at the Closing any of Seller's representations, warranties or covenants contained
herein is not true or has been breached or modified, or (3) Seller 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:
(i) 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;or
(ii) waive, prior to or at the Closing, the applicable objection or condition and
proceed to close the transaction contemplated hereby in accordance with the
remaining tem)s hereof
Section 15. Survival of Ublipations.
(a) The representations and warranties made by Seller pursuant to this Section 9 shall survive
Closing for a period of six (6)nxnths after Closing(the"Survival Period") and shall not merge
into the Special Warranty Deed to be delivered at Closing. Unless Purchaser discovers the breach
of any such representation or warranty on a date (the "Discovery Date") prior to the end of the
Survival Period and gives Seller written notice(tire "Breach Notice")of the breach within ninety
(90)days after the Discovery Date,no alleged breach of any such representation or warranty may
C'FW Parchnse of Lot 1,Block 1,Ta Addition
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form the basis of an action by Purchaser against Seller for breach of any such representation or
warranty. Any such action must be brought within one (1) years after the Discovery Date,
provided that a Breach Notice has been timely given in accordance with the immediately
preceding sentence.
(b) PURCHASER ACKNOWLEDGES THAT THE PROPERTY IS BEING OFFERED ON
AN ASIS, BA.SISS WITH ANY AND ALL LATENT AND PATENT DEFECTS AND
THAT THERE IS NO WARRANTY BY SELLER THAT THE PROPERTY IS FIT FOR A
PARTICULAR USE OR PURPOSE. PURCHASER ACKNOWLEDGES THAT IT IS
NOT RELYING ON ANY REPRESENTATION.STATEMENT OR OTHER ASSERTION
WITH RESPECT TO THE PROPERTY CONDITION, BUT IS RELYING UPON ITS
EXAMINATION OF THE PROPERTY. PURCHASER TAKES THE PROPERTY
UNDER THE EXPRESS UNDERSTANDING THAT THERE ARE NO EXPRESS OR
IMPLIED WARRANTIES. PROVISIONS OF THIS SECTION 15 SHALL SURVIVE
CLOSING.
Section 16. Entire Contract. This Contract (including the attached Exhibits) 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 17. 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 18. Taiduff Prior to Main If, prior to Closing, the Property or any portion thereof
becomes subject to a taking by virtue of eminent domain, Purchaser may, in Purchasers sole discretion,
either(i)terminate this Contract and neither party shall have any further rights or obligations hereundw•,
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 aftr the taking.
Section 19. Governing Law. This Contract shall be governed by and construed in accordance with
the laws of the State of Texas.
Section 20. 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.
Section 21. Venue Venue of any action brought under this Contract shall be in 'Tarrant County,
Texas if venue is legally proper in that County.
Section 22. 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 23. Business Days/Effective Date. If the Closing or the day for performance of any act
required under this Contract falls on a Saturday,Sunday,or legal holiday,then the Closing or the day for
CFW Purchase of Lot t,Block 1,To Addition
Page 9 of 13
1
such performance, as the case may be, shall be the next following regular business day. The date on
which the Tide Company receipts a copy of the Contract is the"Effective Date."
Section 24. ConaftMIa This Contract may be executed in multiple counterparts, each of which
will be deemed an original,but which together will constitute one instrument.
Section 25. Terminology. The captions beside the section numbers of this Contract arc for reference
only and do not modify or affect this Contract in any manner. Wherever required by the context, any
gender includes any other gender,the singular includes the plural,and the plural includes the singular.
Section 26. Construction. The parties acknowledge that each party and its counsel have reviewed
and revised this Contract and that the normal rule of construction to the effect that any ambiguities are to
be resolved against the drafting party is not to be employed in the interpretation of this Contract or any
amendments or exhibits to it.
Section 27. Attorney's Fees. If any action at law or in equity is necessary to enforce or interpret the
terms of this Contract, the prevailing party or parties are entitled to reasonable attorneys' fees,costs and
necessary disbursements in addition to any other relief to which such party or parties may be entitled.
(SIGNATURES APPEAR ON THF.FOLLOWING PAGE}
I
CFV Purchase of Lot 1,Block 1,Ta Addition
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This Contract is EXECUTED as of the Effective Date first set forth above.
SELLER:
DANNY TA fka DUNG DINH TA,CHARLIE TA fka CHONG DINH HOANG TA,
AN71NI4 TA
Danny Ta fka Dung Dinh Ta
Charlie Ta 6a ong inh lloang Ta
Loc Dinh Ta
PURCHASER:
CITY OF FORT WORTH,TEXAS
By:
Jc,,-;.us J.Chapia,Assistant City Ianagcr
V O-R
Attest: 0
C tV SS e'�c
%"000wo
S
Date:-.3"
APP 01VED AS TO LEGA1,1TY AND FORM
ssisita4nt ,ity Attorne
CFW Purchase of Lot 1,Block 1,To Addition OFFICIAL RECORD
Page I I of 13 CITY SECRETARY
FT. WORTH, TX
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:
CFW Purchase of Lot 1,Block 1,Ta Addition
Page 12 of 13
EXHIBIT "A"
Lot 1,Block A, Ta Addition,an addition to the City of Fort Worth,Tarrant County, Texas as indicated on
the plat filed of record, instrument number D197216461 in the Tarrant County Deed Records.
Subdivision is part of the Hiram Little Survey,Abstract no.930,Fort Worth, Tarrant County Texas.
City of Fort Worth, Texas
Mayor and Council Communication
GOL 14GTfQN Approved on 3t2212046 Ordnance No 221
20- 3- 4'{6
. .,A,. . .._.. ,. : . ..
DATE: Tuesday, March 22, 2016 REFERENCE NO.: **L-15879
LOG NAME: 21 PMD 1229 MCPHERSON ROAD ACQUISITION
SUBJECT:
Authorize Acquisition of a Fee Simple Interest in Approximately 14.1 Acres of Land Located at 1229
McPherson Road from Dung Dinh Ta, Chong Dinh Hoang Ta and Loc Dinh Ta, Owners, in the Amount of
$200,000.00, Pay Estimated Closing Costs Up to $10,000.00 for a Total Cost Up to $210,000.00, Dedicate
Property as McPherson Park and Adopt Appropriation Ordinance (COUNCIL DISTRICT 8)
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached ordinance increasing receipts and appropriations in the Acquisition - NPU 2-27
Neighborhood Park Project of the Park Dedication Fees Fund in the amount of$224,500.00 from available
earned interest and available park dedication fees and reducing the unspecified Park Dedication Fees
Fund - Interest Earnings Center in the amount of$195,654.27 and reducing the unspecified Park
Dedication Fees Fund - Neighborhood Park Land Fees Center in the amount of $29,845.73;
2. Authorize the acquisition of approximately 14.1 acres of land located at 1229 McPherson Road from
Dung Dinh Ta, Chong Dinh Hoang Ta and Loc Dinh Ta in the amount of$200,000.00 and pay the
estimated closing costs up to $10,000.00;
3. Authorize the City Manager or his designee to accept the conveyance, pay just compensation and
record the appropriate instruments; and
4. Dedicate the property as parkland upon conveyance as McPherson Park.
DISCUSSION:
The purpose of this Mayor and Council Communication (M&C) is to acquire land located in southeast Fort
Worth in accordance with the Neighborhood and Community Park Dedication Policy and the Park,
Recreation and Open Space Master Plan, which calls for the provision of adequate park and recreational
areas in the form of Neighborhood Based Parks and Community Based Parks.
In December 2014, the Park and Recreation Department began assessing potential properties in south
Fort Worth for neighborhood park land acquisition. Due to subdivision population growth specific to
Neighborhood Park Unit 2-27 where no neighborhood parkland currently exists, this resulted in an
underserved neighborhood parkland need of approximately 14.1 acres based on current population.
Upon completion of internal staff assessment of various parcels, the site located at 1229 McPherson Road
was found most suited for a neighborhood park. As the site is centrally located adjacent to multiple
neighborhood subdivision developments and is fronted by a collector street to existing neighborhoods with
pedestrian access, it is found suitable for recreational amenity development with good site conditions and
available utilities.
Logname: 21PMD 1229 MCPHERSON ROAD ACQUISITION Page 1 of 3
Staff recommends acquiring approximately 14.1 acres of land located at 1229 McPherson Road from
Dung Dinh Ta, Chong Dinh Hoang Ta and Loc Dinh Ta, Owners, by way of voluntary acquisition to meet
the need for additional parkland in south Fort Worth. An independent appraisal was performed and the
owner accepted the appraised value for the property. Staff has received an executed purchase contract
from the seller. Upon City Council approval, a site survey will be performed to complete the due diligence
of this property which will be reviewed prior to closing. In addition, the City's Park and Recreation staff will
ensure the property meets the requirements for its proposed use as a neighborhood park.
The budget for this project is as follows:
j Description Amount
(Purchase Price $200,000.00
Closing Cost $ 10,000.00
Site Survey $ 9,500.00
Project Management, ect. i $ 5,000.00
Total Project Budget $224,500.00;
This project is identified in the Park and Recreation Department's Five-Year Capital Plan (2015-2020)
under the funding request for land acquisition. The Neighborhood and Community Park Dedication Policy
and the Park, Recreation and Open Space Master Plan call for the provision of adequate park and
recreational areas in the form of Neighborhood Based Parks and Community Based Parks.
The park will be held in reserve status until development occurs. The annual cost to maintain this
parkland in reserve status is estimated to be $308.00. When the park is developed, additional funding will
be requested for maintenance operations of the added facilities and the resultant increase in use.
The property is located in COUNCIL DISTRICT 8, Mapsco 432 F6.
This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION/CERTIFICATION:
The Director of Finance certifies that upon approval of the above recommendations and adoption of the
attached appropriation ordinances, funds will be available in the current capital budget, as appropriated, of
the Park Dedication Fees Fund.
Available Remaining Available
Fund Appropriation Transfer Appropriations
Amount I Amount
Park Dedication Fees Fund $2,033,957.00 [$19
4,654.27 $1,839,303.00
Interest Earnings
Park Dedication Fees Fund
Neighborhood Unit 2-27 $ 29,845.73 $ 29,845.73 $ 0.00
Neighborhood Park Land Fees I
Logname: 21PMD 1229 MCPHERSON ROAD ACQUISITION Page 2 of 3
...........- ................ ............. ................ ...........
FUND IDENTIFIERS (FIDs):
TO
Fundi Department Accoun , Project ProgramActivity. Budget Reference # Amount
ID ............. ID Year (Chartfield 2)
1301101 0800450 i4611010 UNSPEC UN9000 .
$194,654.27
1301101 0800450 14611010 CO2716 i C09041 1 $194,654.27
301101 0800450 4413080 UN8018 I UN9000 .
$29,845.731
301101 0800450 14413080 CO2716 1 1 C09041 $29,845.731
301101 0800450 5710010 CO2716 1 C09041 I $224,50U01
............. .......... ........
FROM
lFund! Department Account, Project ,ProgramActivity' Budget Reference # Amount
ID ID
Year (Chartfield
D800450 CO2716 6 C09041 '$224,500.00......... ......
................. .................------ ......... ---------......
CERTIFICATIONS:
Submitted for City Manager's Office by: Jesus J Chapa (5804)
Steve Cooke (5134)
Originating Department Head: Richard Zavala (5704)
Andrew Virdell (5469)
Additional Information Contact: Laura Morales (2311)
ATTACHMENTS
1. 21 PMD 1229 MCPHERSON ROAD ACQUISITIONAO.docx (Public)
2. BUDGET JOURNAL 21 PMD 1229 MCPHERSON ROAD ACQ.docx (CFWlnternal)
3. Map - McPherson Road Park.pd (Public)
Logname: 21PMD 1229 MCPHERSON ROAD ACQUISITION Page 3 of 3