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Home My WebLink AboutContract 36800-CA2 MY SECRETARY CONTRACT NO. ASSIGNMENT OF TAX ABATEMENT AGREEMENT This Assignment of Tax Abatement Agreement is made and entered into by and between CTMGT Waterview Estates FL-1, LLC, ("CTMGT"), ("Assignor") and Impression Homes,L.L.C., ("Assignee") and the City of Fort Worth, ("City") RECITALS A. Waterview Estates, L.P., Pars Investment, Inc., General Partner("Waterview") and the City of Fort Worth, Texas (the "City") entered into that certain Tax Abatement Agreement ("Agreement") for Property Located at 5369 Saba Drive; Lot 14; Block 6; Waterfront at Enchanted Bay; an Addition to the City of Fort Worth, Tarrant County, Texas, according to the plat recorded and filed in Cabinet A; Slide No. 11723, Plat Records, Tarrant County, Texas ("Property") which is located in the Lake Arlington Neighborhood Empowerment Zone, such Agreement approved by the City Council of Fort Worth November 6, 2007, City Secretary Contract Number 36800 ("Agreement"): B. Section 5 of the Agreement permits Waterview to assign all of its rights under the Agreement to CTMGT, without obtaining the prior consent of the City Council: C. Waterview assigned the Agreement to CTMGT, Assignor, such Agreement is dated September 27, 2013, City Secretary Contract Number 36800-CAL D. Pursuant to that certain Special Warranty Deed dated as of Apri12016, recorded i under Tarrant County Deed Records, Assignor conveyed the Property to Impression Homes, L.L.C. and Assignee acquired title to the real property, which is the subject of the Agreement. E. Section 5 of the Agreement permits Assignor to assign all of its rights under the Agreement to Assignee,without obtaining the prior consent of the City Council: AGREEMENT i NOW THEREFORE, in consideration of the mutual terms and conditions herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,the parties hereby agree as follows: 1. Assignment. Assignor hereby ASSIGNS, TRANSFERS AND CONVEYS all rights, duties,obligations,title and interest under the Agreement to Assignee. 2. Acceptance. Assignee hereby accepts the Assignment granted herein, and assumes all of Assignor's rights, duties and obligations arising under the Agreement. 3. Effective Date. The effective date of this Assignment is Aprila'�f2016, ("Effective Date"). All rights, duties and obligations under the Agreement arising, accruing or relating to the period before the Effective Date are allocated to Assignor null=righter--- --, t vr-dC0AL Akr,0 RL) Assignment of Tax Abatement Contract#36800-CA1 from �0 V Srr.GRr'TkA ��f CTMGT Waterview Estates FL-1, LLC to Impression Homes, LL i duties and obligations arising, accruing or relating to the period thereafter shall be allocated to Assignee. 4. Release and Surrender of Assignor. Except as otherwise expressly set forth in this Assignment, Assignor will be discharged from any and all further obligations under the Agreement as of the Effective Date. Assignor must surrender the Property to the Assignee on or before 11:59 p. in. on the date prior to the Effective Date in its present condition. Assignor relinquishes any right to any improvements, fixtures or equipment on the Property. 5. Representations. Assignor represents, warrants and covenants with Assignee that as of the Effective Date, that Assignor is not in default under any of its obligations contained in the Agreement. 6. City of Fort Worth's Consent. City of Fort Worth hereby consents to this Assignment upon the terms and conditions set forth herein. Unless and until City of Fort Worth has executed this Assignment, this Assignment is of no effect. The consent granted herein should not be construed as consent to any further assignment except as provided in the Agreement. The failure or delay of City of Fort Worth in seeking to enforce any provisions of the Agreement or this Assignment should not be deemed a waiver of rights or remedies that City of Fort Worth may have, or a waiver of any subsequent breach of the terms and provisions therein or herein contained. f' 7. Notices. Any notice given by any party to another party hereto must be given in the manner required under the Agreement. The addresses set forth below supercede any addresses for notices set forth in the Agreement. j f CITY OF FORT WORTH: City of Fort Worth Neighborhood Services Department(NEZ) + 1000 Throckmorton Fort Worth,Texas 76102 i ASSIGNOR: ASSIGNEE: CTMGT Waterview Estates,FL-1, LLC Impression Homes,L.L.C. 3901 Airport Freeway, Suite 200 P.O.Box 92726 Bedford,TX 76021 Southlake,Texas 76092 8. Successors. Except as herein otherwise provided, this Assignment will be binding upon and inure to the benefit of the parties, and their respective heirs, executors, a trators, successors and assigns. 9. Counterparts. This Assignment may be executed in multiple counterparts, each of which, once executed, will be an original and fully-binding on the parties so executing; and all such counterparts together constitute one and the same agreement. Assignment of Tax Abatement Contract#36800-CA1 from CTMGT Waterview Estates FL-1,LLC to Impression Homes,LLC 2 10. Binding Offer. This Assignment will be not be binding until executed and delivered by k all three parties. i IN WITNESS WHEREOF, the parties have executed this Assignment as of the date first above written. CITY OF FORT WORTH Fernando Costa Assistant City Manager STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Fernando Costa, Assistant City Manager of the CITY OF FORT WORTH, a municipal corporation, known to me to be the person and officer whose name is subscribed to the foregoing instrument, and acknowledged to me that the same was the act of the said CITY OF FORT WORTH, TEXAS, a municipal corporation, that he was duly authorized to perform the same by appropriate Mayor and Council Communication of the City Council of the City of Fort Worth and that he executed the same as the act of the said City for the purposes and consideration therein expressed and in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this 2�2,dkday of 16. 'a/o" �." �., TRIKINYA l JOHNSON Notary Public in d for : Y'��O L_ ,;Notary Public,State of Texas the State of Texas '_�,: Comm.Expires 04-17-2018 �''%��F`�o�'� Notary ID 1238832-0 4 Mel ATTEST: '' F Mary Kayser, City Secretary APPROVED AS TO FORM AND LEGALITY: ,'`! - �' 00C.0 Melinda Ramos Sr. Assistant City Attorney M& C: C-22514 OFFICIAL:RECORDCITY SECARYAssignment of Tax Abatement Contract#36800-CA1 frc�in FIT.WORTX CTMGT Waterview Estates FL-1, LLC to Impression Homes,.LL 3 ASSIGNOR: CTMGT Waterview Estates FL-1,LLC Name: Mehrdad Moayedi Title: Managing Member STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on t ' day personally appeared Mehrdad Moayedi, Managing Member of CTMGT Watery' Estates FL-1, L.L.C. known to me to be the person whose name is subscribed to e foregoing instrument, and acknowledged to me that he executed the same for the oses and consideration therein expressed, in the capacity therein stated and as the act d deed of CTMGT Waterview Estates FL-1,L.L.C. i GIVEN R MY HAND AND SEAL OF OFFICE this day of 2016. Notary ublic in and for the State of Texas I ASSIGNEE: Impressio omes,L.L.C. i i Name: Bruce Heikkinen Title: Managing Member STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Bruce Heikkinen, Managing Member of Impression Homes, L.L.C. known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed,in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this 4- day of 7 t-L% L 2016. d for ro' `�CHR�51MER fH the State of Texas i MIS * rk+txrY Publk stet#of flgtp G 0.: OF Not IO 1$062 0 & Assignment of Tax Abatement Contract#36800-CAI fi•om CTMGT Waterview Estates FL-1, LLC to Impression Homes,LLC 4 ASSIGNOR: CTMGT Waterview Estates FL-1,LLC :� � ,�—_/ Name: Mehrdad Moayedi Title: Managing Member STATE OF TEXAS § COUNTY OF TAS § YA 1 H(AA BEFORE ME, the undersigned authority, on this day personally appeared Mehrdad Moayedi, Managing Member of CTMGT Waterview Estates FL-1, L.L.C. known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed, in the capacity therein stated and as the act and deed of CTMGT Waterview Estates FL-1, L.L.C. �c GIVEN UNDER MY HAND AND SEAL OF OFFICE this � day of ,4)Qrt� , 2016. WYP`°k� CYNTHIA COLLETT Notary ID# 11566134 Not4 Public in and for My Commission Expires the State of Texas 5 February 20, 2017 Sri iE��E+� ASSIGNEE: Impression Homes, L.L.C. _ Name: Bruce Heikkinen Title: Managing Member STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authori , on this day personally appeared Bruce Heikkinen, Managing Member of Impression es, L.L.C. known to me to be the person whose name is subscribed to the foregoing ins ent, and acknowledged to me that he executed the same for the purposes and consider 'on therein expressed, in the capacity therein stated. GIVEN UND MY HAND AND SEAL OF OFFICE this _ day of 52016. Notary Publ' in and for the State Texas Assignment of Tax Abatement Contract#36800-CA1 from CTMGT Waterview Estates FL-1,LLC to Impression Homes,LLC 4