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Contract 48965
DocuSign Envelope ID:A332893B-EF6C-4469-AE8B-1 ECB902A3467 CITY SECRETARY/ C DocuSign Envelope ID:8A3B0041-F859-4FA9-BO9D-A85A63CC13D9 CONTRACT NO. DocuSign Envek)pe ID:5F04F5o4-6r-.OB-40513-9554-2E84D32EE14C U _ PROMULG3 ED BY THE l ERAS REAL ESI A'IE COMMISSION(TREC) 11-2-2015 ONE TO FOUR FAMILY RESIDENTIAL CONTRACT(RESALE) NO'I10E_Not For Use For Condominium Transactions DS DS 1. PARTIES:The parties to this contract are Cltv of Fort Worth �r (Sellor) and GEM 1' <, R« I E +<.,�e �l;.,: __(Buyor). Seller agroes to Boll and convey to Buyer and Buyer agrees to buy rem Seller the Property defined below. 2. PROPERTY:The land, improvements and accessories are collectively referred to as the"Property`. A. LAND: Lot 3 Block 32 South Hemphlll Heights Addition Addition, City of Fort Worth County of Tarrant Texas, known as 3009 Hemphill St,Ft.Worth,TX 76110 (address/zip code), or as described on attached exhibit. B. IMPROVEMENTS: The house, garage and all other fixtures and improvements attached to the above-described real property, including without limitation, the following permanently Installed and built-In Items, if any: all equipment and appliances, valances, screens, shutters, awnings, wall-to-wail carpeting, mirrors, ceiling fans, attic fans, mail boxes, television antennas, mounts and brackets for televisions and speakers, heating•and air-conditioning units, security and fire detection equipment, wiring, plumbing and lighting fixtures, chandeliers, water softener system, kitchen equipment, garage door openers, cleaning equipment, shrubbery, landscaping, outdoor cooking equipment, and all other property owned by Seller and attached to the above described real property. C. ACCESSORIES: The following described related accessories, if any: window air conditioning units, stove, fireplace screens, curtains and rods, blinds, window shades, draperies and rods, door keys, mailbox keys, above ground pool, swimming pool equipment and maintenance accessories, artificial fireplace logs, and controls for: (i) garage doors, (11) entry gates, and (iii) other improvements and accessories. D. EXCLUSIONS: The following improvements and accessories will be retained by Seller and must be removed prior to delivery of possession: 3. SALES PRICE: — A. Cash portion of Sales Price payable by Buyer at closing.............................................. $ 100,000.00 B. Sum of all financing described in the attached:L]Third Party Financing Addendum, Loan Assumption Addendum,Q Seller Financing Addendum................................. $ C. Sales Price(Sum of A and B).....................__............................................................. $ 100,000.00 4. LICENSE HOLDER DISCLOSURE: Texas law requires a real estate license holder who is a party to a transaction or acting on behalf of a spouse, parent, child, business entity in which tho license holder owns more than 10%, or a trust for which the license holder acts as a trustee or of which the license hokler or the license holder's spouse, parent or chlld is a beneficiary, to notify the other party in writing bofore entering into a contract of sale. Disclose if applicable: 5. EARNEST MONEY: Upon execution of this contract by all parties, Buyer shall deposit $ 360.00 as earnest money with __Nikki Jacks ari ldelity National Title , as escrow , agent, at 4541 Bellaire Dr.S Ft,Worth TX 76108 (address). Buyer shall deposit additional earnest money of$ with escrow agent within days after the effective os Ds date of this contract. If Buyer fails to deposit the earnest money as required by this contract, Buyer �f will be in default. 6. TITLE POLICY AND SURVEY, A. TITLE POLICY: Seller shall furnish to Buyer at ;t]Seller's n Buyer's expense an owner policy of title insurance(Title Policy)issued by Fidelity National Title 1 .__ (Title Company) in the amount of the Sales Price, dated at or after closing, insuring`'Buyer against loss under the provisions of the Title Policy, subject to the prom ulgated• occlusions (including existing building and zoning ordinances)and the following exceptions: Ds os (1) Restrictive covenants common to the platted subdivision in which the Property is located. (2) The standard printed exception for standby fees,taxes and assessments. (3) Liens created as part of the financing described in Paragraph 3. (4) Utility easements created by the dedication deed or plat of the subdivision in which the Property is located. Ds Dv TAR 1601 Initialod for identification by 13uye and Seller_ TREC NO.20-13 Norihm:}teil1�Cn•p,1153 N.Mspo6.Aur.F6 Narb,TX 7Gi0f Moon.KI7AK6,9S� I ax _--.. - - -- ---. -3069 Hn.plitl, S<.1i El'kewrll Produccd v,lth 7.pForm.GbS'7ip:<xIx IM7D F:tlenn lAtn Road,Fn:rf,I.IIWgM O1t17:7 uw.v,t.a.,,:a,,p,n OFFICIAL RECORD CITY SECRETARY FT.WiORTHo TX DocuSign Envelope ID:A332893B-EF6C-4469-AE8B-1 ECB902A3467 DocuSign I=nvelope ID:8A360041-F859-4FA9-B09D-A85A63CC13D9 DocuSign Envelope ID:5F09F504-6EOB405n-9554 2FfAD32EE14C — - 3009 Hemphill St,Ft,Worth,TX 76110 Contract Concerning Fort Worth, Page 2 of 9 11-2-2015 (Address of Property) (5) Reservations or exceptions otherwise permitter) by this contract or as may be approved by Buyer in writing. (6) The standard printed exception as to marital rights. (7) The standard printed exception as to waters, tidelands, beaches, streams, and related matters. (8) The standard printed exception as to discrepancies, conflicts, shortages In area or boundary lines, encroachments or protrusions, or overlapping improvements: U(1) will not be amended or deleted from the title policy; or [1(ii) will be amended to read, "shortages in area"at the expense of[]Buyer L j Seller. B. COMMITMENT: Within 20 days after the Title Company receives a copy of this contract, Seller shall furnish to Buyer a commitment for title insurance (Commitment) and, at Buyer's expense, legible copies of restrictive covenants and documents evidencing exceptions in the Commitment (Exception Documents) other than the standard printed exceptions. Seller authorizes the Title Company to deliver the Commitment and Fxceplion Documents to Buyer at Buyer's address shown in Paragraph 21. If the Commitment and Exception Documents are not delivered to Buyer within the specified time, the time for delivery will be automatically extended up to 15 days or 3 days before the Closing Date, whichever is earlier. If, due to factors beyond Seller's control, the Commitment and Exception Documents are not delivered within the time required, Buyer may terminate this contract and the earnest money will be refunded to Buyer. C. SURVEY: The survey must be made by a registered professional land surveyor acceptable to the Title Company and Buyer's lender(s).(Check one box only) FX] (1) Within 7 days after the effective date of this contract, Seller shall furnish to Buyer and Title Company Seller's existing survey of the Property and a Residential Real Property Affidavit promulgated by the Texas Department of Insurance (T47 Affidavit). If Seller fails to fumish the existing survey or affidavit within the time prescribed, Buyer 'o~S os shall obtain a now survey at Seller's expense no later than 3 days prior to Closing Date. If the existing survey or affidavit is not acceptable to Title Company or Buyer's ' lender(s), Buyer shall obtain a new survey at Q Seller's []Buyers expense no later than 3 days prior to Closing Date. U (2) Within __days after the effective date of this contract, Buyer shall obtain a new survey at Buyer's expense. Buyer is deemed to receive the survey on the date of actual receipt or the date specified in this paragraph,whichever is earlier. (3) Within _days after the effective date of this contract, Seller, at Seller's expense shall furnish a new survey to Buyer. D. OBJECTIONS: Buyer may object in writing to defects, exceptions, or encumbrances to title: disclosed on the survey other than items 6A(1) through (7) above; disclosed in the Commitment other than items 6A(1) through (8) above; or which prohibit the following use or activity: _ Buyer must object the earlier of(i) the Closing Date or(ii) 14 days after Buyer receivesos os the Commitment, Exception Documents, and the survey. Buyer's failure to object within the yf„ time allowed will constitute a waiver of Buyer's right to object; except that the requirements `�C in Schedule C of the Commitment are not waived by Buyer, Provided Seller is not obligated to incur any expense, Seller shall cure the timely objections of Buyer or any third party lender within 15 days after Seller receives the objections and the Closing Date will be extended as necessary. If objections are not cured within such 15 day period, this contract will terminate and the earnest money will be refunded to Buyer unless Buyer waives tho objections, E. 'TITLE NOTICES: (1) ABSTRACT OR TITLE POLICY: Broker advises Buyer to have an abstract of title covering the Property examined by an attorney of Buyer's selection, or Buyer should he furnished with or obtain a Title Policy. If a Title Policy is famished, the Commitment should be promptly reviewed by an attomey of Buyer's choice due to the time limitations on Buyer's right to object- (2) MEMBERSHIP IN PROPER-1Y OWNERS ASSOCIATION(S): The Property ❑is JXJ is not subject to mandatory membership in a property owners association(s). If the Property Is subject to mandatory membership in a property owners association(s), Seller notifies Buyer under §5.012, Texas Property Code, that, as a purchaser of property in the residential community identified in Paragraph 2A In which the Property is located, you are obligated to be a member of the property owners association(s). Restrictive covenants governing the use and occupancy of the Property and all dedicatory instruments governing the establishment, maintenance, and operation of this residential community have been or will be recorded in the Real Property Records of the county in which the Property is located. Copies of the restrictive covenants and dedicatory instrument may be obtained from tho county clerk- You are obligated to pay aaaeaaments to the property owners ass namount of the assessments is sublact to TAR 1601 Initialed for identification by Buyer •and Seller ",REG NO.20-13 rrodwed vAh z4*mmPo Cy 7ifl oglx 1877 7009 U."Phal, DocuSign Envelope ID:A332893B-EF6C-4469-AE8B-1ECB902A3467 bocuSign Envelope ID:8A380041-F859-4FA9-BO9D-A85A63CC13D9 DocuSign Er velopo ID:5F09F504-6EOB-4058-9554-2E84D32EE94C - - 3009 Hemphill St,Ft.Worth,TX 76110 Contract Concerning — ___ Fort Worth, __. _ Page 3 of 9 11-2-2015 (Address of Property) change, Your failure to Bsly the assessments could result In enforcement of ttie assoclatlon's lien on and the foreclosure of the Property. Section207.003, Property Code, entitles an owner to receive copies of any document that governs the establishment, maintenance, or operation of a subdivision, including, but not limited to, restrictions, bylaws, rules and regulations, and a resale certificate from a property owners' association. A resale certificate contains information including, but not limited to, statements specifying the amount and frequency of regular assessments and the style and cause number of lawsuits to which the property owners' association is a party, other than lawsuits relating to unpaid ad valorem taxes of an individual member of the association. These documents must be made available to you by the property owners' association or the association's agent on your request. If Buyer Is concerned about these matters, the TREC promulgated Addendum for Property Subject to Mandatory Membership in a Property Owners Associations) should be used. (3) STATUTORY TAX DISTRICTS: If the Property is situated in a utility or other statutorily created district providing water, sewer, drainage, or flood control faciliUes and services, Chapter 49, Texas Water Cade, requires Seller to deliver and Buyer to sign the statutory notice relating to the tax rate, bonded indebtedness, or standby fee of the district prior to final execution of this contract. (4) TIDE WATERS: If the Property abuts the Wally influenced waters of the state, §33.135, Texas Natural Resources Code, requires a notice regarding coastal area property to be included in the contract. An addendum containing the notice promulgated by TREC or required by the parties must be used. (5) ANNEXATION: If the Property is located outside the limits of a municipality, Seller notifies Buyer under §5,011, Texas Property Code, that the Property may now or later be included in the extraterritorial jurisdiction of a municipality and may now or later be subject to annexation by the municipality. Each municipality maintains a map that depicts its boundaries and extraterritorial jurisdiction. To determine if the Property is located within a municipality's extraterritorial jurisdiction or is likely to be located within a municipality's extraterritorial jurisdiction, contact all municipalities located in the general proximity of the Property for further information. (6) PROPERTY LOCATED IN A CERTIFICATED SERVICE AREA OF A UTILITY SERVICE PROVIDER: Notice required by §13.257, Water Code: The real property, described in Paragraph 2, that you are about to purchase may be located in a certificated water or sewer service area, which is authorized by law to provide water or sewer service to the properties in the certificated area. If your property is located in a cerUFicated area there may be special costs or charges that you will be required to pay before you can receive water or sewer service. There may be a period required to construct lines or other facilities necessary to provide water or sewer service to your property. You are advised to determine if the property is in a certificated area and contact the utility service provider to determine the cost that you will be required to pay and the period, if any, that is required to provide water or sewer service to your property. The undersigned Buyer hereby acknowledges receipt of the foregoing notice at or before the execution of a binding contract for the purchase of the real property described in Paragraph 2 or at closing of purchase of the real property. (7) PUBLIC IMPROVEMENT DISTRICTS: If the Property is in a public improvement district, §5.014, Properly Code, requires Seller to notify Buyer as follows: As a purchaser of this parcel of real property you aro obligated to pay an assessment to a municipality or county for an improvement project undertaken by a public improvement district under Chapter 372, Local Government Code. The assessment may be due annually or in periodic installments. More Information concerning the amount of the assessment and the due dates of that assessment may be obtained from the municipality or county levying the assessment. The amount of the assessments is subject to change. Your failure to pay the assessments could result in a lien on and the foreclosure of your property. (8) TRANSFER FEES: If the Property is subject to a private transfer fee obligation, §5.205, Property Code, requires Seller to notify Buyer as follows: The private transfer fee obligation may be governed by Chapter 5, Subchapter G of the Texas Property Code. (9) PROPANE GAS SYSTEM SERVICE AREA: If the Property is located in a propane gas system service area owned by a distribution system retailer, Seller must give Buyer written notice as required by §141.010, Texas Utilities Code. An addendum containing the notice approved by TREC or required by the parties should be used. (10)NOTICE OF WATER LEVEL FLUCTUATIONS: If the Property adjoins an impoundment of water, including a reservoir or lako, constructed and maintained under Chapter 11, Water Code, that has a storage capacity of at least 5,000 acre-feet at the impoundment's normal operating level, Sellerherebgs notifies Buyer: "The water level of the impoundment of water adjoin! g �1n o fluctuates for various reasons, including as TAR 1601 Initialed for identificaUon by Buye and Seller TREC NO.2.0-13 r'rodxdd W:h bpFo mO by npl-orJbc 1807 MI.,ill, DocuSign Envelope ID:A332893B-EF6C-4469-AE8B-lECB902A3467 bocuSign Envelope ID:8A3B0041-F859-4FA9-BO9D-A85A63CC13D9 Dom,9ign Envelope ID:5F0gF.504-&EOd-406B-9654-2E84D32EE14C 3009 Hemphill St,Ft.Worth,TX 76110 Contract Concerning Fort Worth, Page 4 of 9 11-2-2015 (Address of Property) a result of (1) an entity lawfully exercising its right to use the water stored in the impoundment;or(2)drought or flood conditions.` 7, PROPERTY CONDITION: A. ACCESS, INSPECTIONS AND UTILITIES: Seller shall permit Buyer and Buyer's agents access to the Property at reasonable times. Buyer may have the Property inspected by inspectors selected by Buyer and licensed by TREC or otherwise permitted by law to make inspections. Any hydrostatic testing must be separately authorized by Seller in writing. Seller at Seller's Ds Ds expense shall immediately cause existing utilities to be turned on and shall keep the utilities on during the time this contract is in affect. f B. SELLER'S DISCLOSURE NOTICE PURSUANT TO§5.008,TEXAS PROPERTY CODE(Notice): (Check one box only) H (1) Buyer has received the Notice. (2) Buyer has not received the Notice. Within days after the effective date of this contract, Seller shall deliver the Notice to Buyer. If Buyer does not receive the Notice, Buyer may terminate this contract at any time prior to the closing and the earnest money will be refunded to Buyer. If Seller delivers the Notice, Buyer may terminate this contract for any reason within 7 days after Buyer receives the Notice or prior to the closing, whichever first occurs,and the earnest money will be refunded to Buyer. Q (3) The Seller Is not required to furnish the notice under the Texas Property Code. C. SELLER'S DISCLOSURE OF LEAD-BASED PAINT AND LEAD-BASED PAINT HAZARDS is required by Federal law for a residential dwelling constructed prior to 1978. D. ACCEPTANCE OF PROPERTY CONDITION: "As Is" means the present condition of the Property with any and all defects and without warranty except for the warranties of title and the warranties in this contract. Buyer's agreement to accept the Property As Is under Paragraph 7D(1) or (2) does not preclude Buyer from Inspecting the Property under Paragraph 7A, from negotiating repairs or treatments in a subsequent amendment, or from terminating this contract during the Option Period,if any. (Check one box only) [� (1) Buyer accepts the Property As Is. ❑ (2) Buyer accepts the Property As Is provided Seller, at Seller's expense, shall complete the the following specific repairs and treatments: (Do not insert general phrases, such as "subject to Inspections" that do not identify specific repairs and treatments.) E. LENDER REQUIRED REPAIRS AND TREATMENTS: Unless otherwise agreed in writing, neither party is obligated to pay for lender required repairs, which includes treatment for wood destroying insects. If the parties do not agree to pay for the lender required repairs or treatments, this contract will terminate and the earnest money will be refunded to Buyer. If the cost of lender required repairs and treatments exceeds 5% of the Sales Price, Buyer may terminate this contract and the earnest money will be refunded to Buyer. F. COMPLETION OF REPAIRS AND TREATMENTS: Unless otherwise agreed in writing: (i) Seiler shall complete all agreed repairs and treatments prior to the Closing Date; and (ii) all required permits must be obtained, and repairs and treatments must be performed by persons who are licensed to provide such repairs or treatments or, if no license is required by law, are commercially engaged in the trade of providing such repairs or treatments. At Buyer's election, any transferable warranties received by Seller with respect to the repairs and treatments will be transferred to Buyer at Buyer's expense. If Seller fails to complete any agreed repairs and treatments prior to the Closing Date, Buyer may exercise remedies under Paragraph 15 or extend the Closing Date up to 5 days if necessary for Seller to complete the repairs and treatments. G. ENVIRONMENTAL MATTERS: Buyer is advised that the presence of wetlands, toxic substances, including asbestos and wastes or other environmental hazards, or the presence of a threatened or endangered species or its habitat may affect Buyer's intended use of the Property. If Buyer is concerned about these matters, an addendum promulgated by TREC or required by the parties should be used. H. RESIDENTIAL SERVICE CONTRACTS: Buyer may purchase a residential service contract from a residential service company licensed by from TREC. If Buyer purchases a residential service contract, Seller shall reimburse Buyer at closing for the cost of the residential service contract in an amount not exceeding $ _ Buyer should review any residential service contract for the scope of coverage, exclusions and limitations. The purchase of a residential service contract is optional. Similar coverage may be purchased from various companies authorized to do business In Texas. 8. BROKERS' FEES: All obligations of the parties for payment of brokors' foes aro contained in separate written agreements. Ds DS TAR 1601 Initialed for identification by Buy and Salter TREC NO.20-13 Pro4_w l vdn Arforn M by ArA eglx IWZ - -- ed;-F�seeeF-Midib n OM yptAy_tioLcwixcaq �M711cihpLlll, DocuSign Envelope ID:A332893B-EF6C-4469-AE8B-lECB902A3467 docuSign Envelope ID:8A3BOo41-F859AFA9-BO9D-A85A63CC13D9 DocuSIgn Fnvelopo ID:5F09F504-6EOB-4058-9554-2FM32FE140 3009 Hemphill St,Ft.Worth,TX 76110 Contract Concerning _ Fort_Worth, _ Page 5 of 9 11-2-2015 (Address of Property) S. CLOSING: A. The closing of the sale will be on or before determined by Fort Worth or within days after objections made under Paragraph 6D have been cured or waived, whichever date os os is later (Closing Dale). If either party falls to close the sale by the Closing Date, the no defaulting party may exercise the remedies contained in Paragraph 15. B. At closing: nE (1) Seller shall execute and deliver a general warranty deed conveying title to the Property to Buyer and showing no additional exceptions to those permitted in Paragraph 6 and furnish tax statements or certificates showing no delinquent taxes on the Property, os os (2) Buyer shall pay the Sales Price in good funds acceptable to the escrow agent. 5�f (3) Seller and Buyer shall execute and deliver any notices, statements, certificates, affidavits, releases, loan documents and other documents reasonably required for the closing of the sale and the issuance of the Title Policy. (4) There will be no liens, assessments, or security interests against the Properly which will not be satisfied out of the sales proceeds unless securing the payment of any loans assumed by Buyer and assumed loans will not be in default. (5) If the Property is subject to a residential lease, Seller shall transfer security deposits (as dorined under §92.102, Property Code), if any, to Buyer. In such an event, Buyer shall deliver to the tenant a signed statement acknowledging that the Buyer has acquired the Property and is responsible for the return of the security deposit, and specifying the exact dollar amount of the security deposit. 10. POSSESSION: A Buyer's Possession: Seller shall deliver to Buyer possession of the Property in its present or required condition, ordinary wear and tear excepted: n upon closing and funding ❑according to a temporary residential lease form promulgated by TREC or other written lease required by the parties. Any possession by Buyer prior to closing or by Seller after closing which is not authorized by a written lease will establish a tenancy at sufferance relationship between the parties. Consult your Insurance agent prior to change of ownership and possession because insurance coverage may be limited or terminated. The absence of a written lease or appropriate insurance coverage may expose the parties to economic loss. B. Leases: (1) After the Effective Date, Seller may not execute any lease (including but not limited to minoral leases)or convey any interest in the Property without Buyer's written consent. (2) If the Property is subject to any lease to which Seller is a party, Seller shall deliver to Buyer copies of the lease(s) and any move-in condition form signed by the tenant within 7 days after the Effective Date of the contract. 11. SPECIAL PROVISIONS: (Insert only factual statements and business details applicable to the sale. TREC rules prohibit license holder from adding factual statements or business details for which a contract addendum, lease or other form has been promulgated by TREC for mandatory use.) � os Se c A-&Lh►n e4cf- A 12. SETTLEMENT AND OTHER EXPENSES: A. The following expenses must be paid at or prior to closing: (1) Expenses payable by Seller(Seller's Expenses): (a) Releases of existing liens, including prepayment penalties and recording fees; release of Seller's loan liability; tax statements or certificates; preparation of deed; one-half of escrow fee;and othor expenses payable by Seller under this contract (b) Seller shall also pay an amount not to exceed$ to be applied in the following order. Buyer's Expenses which Buyer is prohibited from paying by FNA, VA, Texas Veterans Land Board or other governmental loan programs, and then to other Buyer's Expenses as allowed by the lender. (2) Expenses payable by Buyer (Buyer's Expenses): Appraisal fees; loan application fees; origination charges; credit reports; preparation of loan documents; interest on the notes from date of disbursement to one month prior to dates of first monthly payments; recording fees; copies of easements and restrictions; loan title policy with endorsements required by lender; lean-related inspection fees; photos; amortization schedules; one-half of escrow fee; all prepaid items, including required premiums for flood and hazard insurance, reserve deposits for insurance, ad valorem taxes and special governmental assessments; final compliance inspection; courier fee; repair inspection; underwriting fee; "res trpnsW fee; expenses incident to any loan; Private TAR 1601 Initialed for identification by Buy and Seller TREC NO.20-13 ProducodwifiApFor VbyzipLog4 IOD70rineanMieRoud,Fraser,Mkhigan46020 w N.AnLod&co(n 706�llcn,phlll, DocuSign Envelope ID:A332893B-EF6C-4469-AE8B-1 EC13902A3467 bocuSign Envelope ID:8A380041-F859-4FA9-B09D-A85A63CC13D9 DmjSign Envelope ID:GF09F504-6E06-405B-955'1-2E04D32FF14C 3009 Hemphill St,Ft.Worth,TX 76110 Contract Concerning Fort Worth, _ _ _ Page 6 of 9 11-2-2015 (Address of Property) Mortgage Insurance Premium (PMI), VA Loan Funding Fee, or FHA Mortgage Insurance Premium (MIP) as required by the lender; and other expanses payable by Buyer under this contract. B. If any expense exceeds an amount expressly stated in this contract for such expense to be paid by a party, that party may terminate this contract unless the other party agrees to pay such excess. Buyer may not pay charges and fees expressly prohibited by FHA, VA, Texas Veterans Land Board or other governmental loan program regulations. 13. PRORATIONS: Taxes for the current year, interest, maintenance fees, assessments, dues and rents will be prorated through the Closing Date. The tax proration may be calculated taking into consideration any change in exemptions that will affect the current year's taxes. If taxes for the current year vary from the amount prorated at closing, the parties shall adjust the prorations when tax statements for the current year are available. If taxes are not paid at or prior to closing, Buyer shall pay taxes for the current year. 14. CASUALTY LOSS: If any part of the Property Is damaged or destroyed by Etre or other — casualty after the effective date of this contract, Seller shall restore the Properly to its previous condition as soon as reasonably possible, but In any event by the Closing Date. If os os Seller fails to do so due to factors beyond Soller's control, Buyer may (a) terminato thi contract and the earnest money will be refunded to Buyer (b) extend the time fo performance up to 15 days and the Closing Date will be extended as necessary or (c) aoeep the Property in its damaged condition with an assignment of insurance proceeds, if permitted by Seller's Insurance carrier, and receive credit from Seller at closing in the amount of the deductible under the insurance policy. Seller's obligations under this paragraph are independent of any other obligations of Seller under this contract. 15. DEFAULT: If Buyer faits to comply with this contract, Buyer will be in default, and Seller may (a) enforce speck performance, seek such other relief as may be provided by law, or both, or (b) terminate this contract and receive the earnest money as liquidated damages, therebyC releasing both parties from this contract. If Seller fails to comply with this contractSeller will = _ be in default and Buyer may (a) enforce specific performance, seek such other relief as (nay os os be provided by law, or both, or (b) terminate this contract and receive the earnest money thereby releasing both parties from this contract. 16. MEDIATION: It is the policy of the State of Texas to encourage resolution of disputes through alternative dispute resolution procedures such as mediation. Any dispute between Seller and Buyer related to this contract which is not resolved through informal discussion Will be submitted to a mutually acceptable mediation service or provider. The parties to the mediation shall bear the mediation costs equally. This paragraph does not preclude a party from seeking equitable relief from a court of competent jurisdiction. 17. ATTORNEY'S FEES: A Buyer, Seller, Listing Broker, Other Broker, or escrow agent who prevails in any legal proceeding related to this contract is entitled to recover reasonable attorney's fees and all costs of such proceeding. 18. ESCROW: A. ESCROW. The escrow agent is not (1) a party to this contract and does not have liability for the performance or nonperformance of any party to this contract, (ii) liable for interest on the earnest money and (iii) liable for the loss of any earnest money caused by the failure of any financial institution in which the earnest money has been deposited unless the financial institution is acting as escrow agent. B. EXPENSES: At closing, the earnest money must be applied first to any cash down payment, then to Buyer's Expenses and any excess refunded to Buyer. If no closing occurs, escrow agent may: (i) require a written release of liability of the escrow agent from all parties, (ii) require payment of unpaid expenses incurred on behalf of a party, and (iii) only deduct from the earnest money the amount of unpaid expenses incurred on behalf of the party receiving the earnest money. C. DEMAND: Upon termination of this contract, either party or the escrow agent may send a release of earnest money to each party and the parties shall execute counterparts of the release and deliver same to the escrow agent. If either party falls to execute the release, either party may make a written demand to the escrow agent for the earnest money. If only one party makes written demand for the earnest money, escrow agent shall promptly provide a copy of the demand to the other party. If escrow agent does not receive written objection to the demand from the other party within 15 days, escrow agent may disburse the earnest money to the party making demand reduced by the amount of unpaid expenses Incurred on behalf of the party receiving the earnest money and escrow agent may pay the same to the creditors. if escrow agent complies with the provisions of this paragraph, each party hereby releases escrow agent from all adverse claims related to the disbursal of the epmeat m vs TAR 1601 Initialed for identification by Buye and Seller 1REC NO.20-13 FYrtku xt wNh 7lpFr indD byzlpLophc trio/[t Flttmn Ar�{rt Kruti,Fns+r,Al dean X9078 .�i�l.00x mn 300911envhdl, 'DocuSign Envelope ID:A332893B-EF6C-4469-AE8B-1ECB902A3467 DocuSign Lnvelope ID:8A380041-F859-4FA9-BO9D-A85A63CC13D9 DocuSign Fnvalope ID:5FO9F504-6E0&405B-9554 2E84D32LE14G 3009 Hemphill Sl,Ft-Worth,TX 76110 Contract Concerning _ Fort Worth, _ Page 7 of 9 11-2-2015 (Address of Property) D. DAMAGES: Any party who wrongfully fails or refuses to sign a release acceptable to the escrow anent within 7 days of receipt of the request will be liable to the other party for (i) damages;(li)the earnest money;(iii)reasonable attorney's fees,-and(iv)all costs of suit. E. NOTICES: Escrow agent's notices will be effective when sent in compliance with Paragraph 21. Notice of abjection to the demand will be deemed effective upon receipt by escrow argent. 19. REPRESENTATIONS: All covenants, representations and warranties in this contract survive closing. If any representation of Seller in this contract Is untrue on the Closing Date, Seller will be in default. Unless expressly prohibited by written agreement, Seller may continue to show the Property and receive, negotiate and accept back up offers. 20. FEDERAL TAX REQUIREMENTS: If Seller is a "foreign person," as defined by applicable law or if Seller fails to deliver an affidavit to Buyer that Seller is not a "foreign person," then Buyer shall withhold from the sales proceeds an amount sufficient to comply with applicable tax law and deliver the same to the Internal Revenue Service together with appropriate tax forms. Internal Revenue Service regulations require filing written reports if currency in excess of specified amounts Is received in the transaction. 21. NOTICES: All notices from one party to the other must be in writing and are effective when mailed to, hand-delivered at, or transmitted by fax or electronic transmission as follows: To Buyer at: To Sellgr at: oet& CGtfz l�n f Cly Eiw Phone:- Phone:. 9 ) -3 1_2--1,f ZS Fax:east,calviriftmail.com Fax:: E-mail:matt s�ndlinhomes.com E-mail: be.� - C,�_p ca i2 2? � t Wei ht«e_S'S°� r 22. AGREEMENT OF PARTIES: This contract contains the entire agreement of the parties and cannot be changed except by their written agreement. Addenda which are a part of this contract are(Check all applicable boxes): ❑ Third Party Financing Addendum ❑ Environmental Assessment,Threatened or Endangered Species and Wetlands F] Seller Financing Addendum Addendum (—J Addendum for Property Subject to Sollof s Temporary Residential Lease Mandatory Membership in a Property ❑ Short Sale Addendum Owners Association ❑ Addendum for Property Located Seaward Ll Buyer's Temporary Residential Lease of the Gulf Intracoastal Waterway J Loan Assumption Addendum ❑ Addendum for Seller's Disclosure of Information on Lead-based Paint and Lead - F] Addendum for Sale of Other Property by based Paint Hazards as Required by Buyer Federal Law ❑ Addendum for Reservation of Oil, Gas F] Addendum for Property in a Propane Gas and Other Minerals System Service Area ❑ [I+4 Other(list): A IfacAin eAe �r Addendum for"Back-Up"Contract — )s Ds ❑ Addendum for Coastal Area Property - -- m os D� TAR 1601 Initialed for identification by Buyfr and Seller TREC NO. 20-13 r ,md YAfh zpF Cw0 by z)pLc0X iB0' M6Gitiyn Inn7fi vn qi nryY rm� aoa�ire,�r m, DocuSign Envelope ID:A33289313-EF6C-4469-AE813-1 ECB902A3467 DocuSign Lnvelope ID:8A3B0041-F859-4FA9-BO9D-A85A63CC13D9 DocuSign Cnvolopo ID:5FO9F504-6[OB-4058-9554-2E84D.92E-Fl4C 3009 Hemphill St,Ft.Worth,TX 76110 Contract Concerning Fort Worth, Page 8 of 9 11-2-2015 (4Mn-ss of F-raperty) 23. TERMINATION OPTION: For nominal consideration, the receipt of which is hereby acknowledged by Seller, and Buyer's agreement to pay Seller $ 50,00 __ (Option Fee) within 3 days after the effective date of this contract, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within 30 days after the effective date of this contract (Option Poriod). Notices under this paragraph must bo given by Ds Ds 5:00 p.m. (local time where the Property is located) by the date specified. If no dollar amount is Lys statod as tho Option Fee or if Buyer fails to pay the Option Fee to Seller within the time prescribed, this paragraph will not be a part of this contract and Buyer shall not havo the unrestricted right to terminate this contract if Buyer gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any earnest money will be refunded to Buyer. The Option Feo ❑X will ❑will not be credited to the Sales Price at closing. Time is of the essence for this paragraph and strict compliance with the time for performance is required. 24, CONSULT AN ATTORNEY BEFORE SIGNING: TREC rules prohibit real estate license holders from giving legal advice.READ THIS CONTRACT CAREFULLY. Buyer's Seller's Attorney is: __ Attorney is: be&y" 6M7—wav— Phone: Fax: Fax: E-mall: E-maik Leaw.(—tvzw4r, EXECUTED the day of ___ ___(EFFECTIVE DATE). (BROKER: FILL iN THE DATE OF FINAL ACCEPTANCE.) DS DS ry-\--�-'FUowSYpnad by: �rT V v _ ce 4.. 'Lr d BUV61L /' +- 1, Iakvs �ay) EIAlo- 1-�00;a3 s !-L�Seller City of Fort Worth Docusipned by: Buy r--Fr:a4ersAr?4n457. Seller The Form 0 Inls oontrari has been g4xwed by Irse texas Real Eslnre Cornrnission.TFtEC roans aro iiuonded for use 0*by trained real astato license Folders. No ralaeseNallon Is made an to the lopsi vakily or adayuucy or any pruNslon in any sFWX&4anaacfasls. It is riot intended roc oontplmr iransaalions. Texas ME& Estate C0m114310l, P.O. nox IAN, AuAn, TX 78711-2188. (W) 936-3000 (httpJMwwIrnrteYm9ov) TRrc; N0.2D-13.Thh term rcpWcna TrlF0 N 0.20-17- TAR 1601 TREC NO,20-12 Prix* aM tut 7lpFormN by zpLVx 100IO fineen Mie Band,Fraser,►1irlrstan 40025 Wrlwrtnt oder»t M911—phil, DocuSign Envelope ID:A332893B-EF6C-4469-AE8B-1 ECB902A3467 DocuSign Envelope ID:8A360041-F859-4FA9-B09D-AB5A63CC13D9 DocuSign Envelope 10:SF09F50"EOB-4058-8554-2E84D32EE14C 3009 Hemphill St,Ft Worth,TX 76110 Contract Concerning Fort Worth Page e of 9 11-2-2015 -_ Address of Pro BROKER INFORMATION (Print name(s)only.Do not sign) F!=lNo—rthern eally Group 9000078 Spears Real Estate Group er Firm License No. Listing Broker Firm License No. ©Buyer only as Buyer's agent represents ❑Seller and Buyer as an iniennediary ❑Seller as Listing Broker's subagent (�;Seller only as Sellers agent well 635757 Sherloy Spears 618435 Name License No. Listing Associate's Name License No. rn 587367 Licensed Supervisor of Associate License No. Licensed Supervisor of Listing Associate License No. 1253 W Magnolia Ave. aQp8 8alzise Terrace Other Broker's Address Fax Listing Broker's Ofece Address Fax Fort Worth TX 76104 Fort Worth TX 76104 City State Zip City S-t—ateZip �otffi(c�northernrar 4grgu%!gom (8'17}466-9663 msstspearstdrgmail.com (8171655-3670 Associate's Email Address Phone Listing AssoclaWs Email Address Phone Selling Associete's Name License No. Licensed Supervisor of Selling Associate License No, Selling Assoctete's Olfice Address Fax Ctty State ,Zip Selling Associate's Email Address Phone Listing Broker has agreed to pay Other Broker of the total sales price when the Listing Brokers tee Is received.Escrow agent is authorized and directed to pay other Broker from Listing Broker's fee,at dosing. OPTION FEE RECEIPT ipt of$�• (Option Fee)in the form of '411-1r4 is acknowledged. See oker pate CONTRACT AND EARNEST MONEY RECEIPT Receipt o Contract an s/ ��i� Eamest Money in the form of vis rt �I �d Is' 1 Escr Agri ? ,0v4-do, ,a Date: /iwe -/ By f �i17 ,) , / /J _tt J EmailAddress d l! .5 1 t�r1�7✓y-� J Phone:n f1 ��I� J Add�sa,. Fax S 1 —Po — 613 I City —N� State Zip TAR 1601 TREC NO.20-12 ProQUoMxiOi liP��fif21P�49bc 18070 HRea.�M1tle Road„frastr,rAlvi�enaBQ2G �tsw�lotndr rnm 3Q09 sirmpAlll, DocuSign Envelope ID:A33289313-EF6C-4469-AE813-1ECB902A3467 docuSign 1=nvelope ID:8A3B0041-F859-4FA9-809D-A85A63CC13D9 ATTACHMENT"A"TO SALES CONTRACT 3009 HEMPHILL STREET a. Section 5:The phrase"Buyer shall deposit$350.00 as earnest money with Nikki Jackson, Fidelity National Title,as escrow agent at 4541 Bellaire Dr. S, Ft.Worth,TX 76109..." is hereby amended to read "Buyer shall deposit$1,000.00 as earnest money with Alamo Title Company, as escrow agent,at 2900 S. Hulen St,, Ste,30, Fort Worth,TX 76109,Attn: Lavonne Keith." b. Section 6A:The phrase "Seller shall furnish to Buyer at Seller's expense an owner policy of title insurance(Title Policy) issued by Fidelity National Title (Title Company)..." is hereby amended to read "Seller shall furnish to Buyer at Seller's expense an owner policy of title insurance (Title Policy)issued by Alamo Title (Title Company)...." c. Section 6C(1):The City of Fort Worth does not have an existing survey and will not provide a new survey;therefore Section 6C(1) is hereby replaced with Section 6C(2), except that Section 6C(2)is amended to read as follows: 'Buyer may obtain a new survey at Buyer's expense, provided that if Buyer decides to obtain a survey, Buyer shall do so as soon as practicable. Buyer shall be deemed to have received the survey on the date of actual receipt." d. Section 6D:The phrase "Seller shall cure the timely objections of Buyer..." is hereby amended to read "Seller may cure the timely objections of Buyer...." e. Section 7A: Deleted in its entirety by agreement of the parties. f. Section 9A:The phrase "The closing of the sale will be on or before determined by Fort Worth..." is hereby amended to read "The closing of the sale will be on or before May 1, 2017...." g. Section 913(1):The seller will execute and deliver a Special Warranty Deed, not a General Warranty Deed. h. Section 11:The following verbiage is added to Section 11: See Attachment"A". i. Section 14: Notwithstanding anything herein to the contrary, in the event of a casualty loss on the Property, Seller has no obligation to restore the Property. j. Section 15: Notwithstanding anything herein to the contrary, Buyer may not enforce specific performance of this Contract. k. Section 22:Attachment"A" added to"Other" on Addenda List. os os DocuSign Envelope ID:A33289313-EF6C-4469-AE8B-1 EC13902A3467 bocuSibn'Envelope ID:8A3B0041-F859-4FA9-B09D-A85A63CC13D9 I. Section 23:The phrase"For nominal consideration, the receipt of which is hereby acknowledged by Seller,and Buyer's agreement to pay Seller$50.00(Option Fee)..." is hereby amended to read "For nominal consideration,the receipt of which is hereby acknowledged by Seller, and Buyer's agreement to pay seller$100.00(Option Fee)...." m. Purchaser acknowledges the possibility of asbestos-containing materials in the house and/or on the property. 1Do uSigned by: I6FC846F5AF24B45? ,D"u,919md by: ".""bt' fast982612C2BF60431 matt speight Calvin East / 1) rcr r�ar�rlb Gc S�. Pr ss 15+&k* or t- wo rte O�F O R T�,to Q. 1 Q4 . TEY, OFFICIAL.RECORD CITY E'ECRETARY FT.W XT14v T)t M&C Review Page 1 of 2 Official site of the City of Fort Worth,Texas COUNCIL ACTION: Approved on 2/7/2017 DATE: 2/7/2017 REFERENCE **L-15997 LOG NAME: 19DIRECTSALE3009HEMPHILL NO.. CODE: L TYPE: CONSENT PUBLIC NO HEARING: SUBJECT: Authorize Direct Sale of a City Fee-Owned Property Located at 3009 Hemphill Street to a Buyer for the Amount of the Highest Cash Offer, in Accordance with Section 253.014 of the Texas Local Government Code (COUNCIL DISTRICT 9) RECOMMENDATION: It is recommended that the City Council: 1. Authorize direct sale of a City fee-owned property located at 3009 Hemphill Street to a buyer for the amount of the highest cash offer in accordance with Section 253.014 of the Texas Local Government Code; and 2. Authorize the City Manager or his designee to execute and record the appropriate instruments conveying the property to complete the sale. DISCUSSION: In 1997, the City provided a deferred forgivable loan for acquisition of the property at 3009 Hemphill Street for operation of a transitional housing program designed to assist low-income families with children to become self-sufficient. The funds were provided from Department of Housing and Urban Development (HUD) HOME Investment Partnership Program (HOME) Community Housing Development Organization set-aside funds. The buyer experienced difficulty in operating the program and requested to return the property to the City. It was mutually agreed that the return of the property to the City would be in the best interest of both the property owner and the City. To facilitate the return of the property to the City, a deed in lieu of foreclosure was executed, as approved on July 10, 2001 by Mayor and Council Communication (M&C G-13294), and the property was returned to the City as a fee-owned property in satisfaction of the City's real estate lien note secured by a deed of trust in the amount of$66,401.21. Section 253.014 of the Texas Local Government Code provides that a municipality may sell City- owned property by accepting the highest cash offer after listing the property for at least thirty days with a real estate broker. The City, therefore, listed the property for thirty days with a broker and received ten offers for the sale of the property as shown below. Name of Prospective Buyer Amount of Offer CEMS Tx Real Estate Holdings $100,000.00 Jarrett Vogel $ 90,000.00 Aus iceon Properties LLC $ 85,000.00 Sandifer Freddie $ 65,000.00* The Maddox Group, LLC $ 65,000.00* Nehme Elbitar $ 55,000.00 Rodrigo S. Colson & Christy L. $ 50,000.00 Colson Jennifer Jameson and Jeff Jameson $ 40,000.00 http://apps.cfwnet.or2/counci1 packet/mc review.asp?ID=241 62&councildate=2/7/2017 4/4/2017 M&C Review Page 2 of 2 Jer Golubinski Ventures LLC $ 36,000.00 Della Ruth Bredleau and Conrad $ 25,000.00 Bredleau, Melonie Williams and Steven Williams *In the event of a tie on the amount of the highest cash offer, Staff will negotiate with the buyers to settle upon the final highest cash offer. All prospective buyers are given an opportunity to view the interior of the property. If the highest offer (s) is withdrawn, Staff will move forward with the remaining highest cash offer. The City will pay all common and customary closing costs of the transaction not to exceed $1,500.00 and will convey all mineral interests it may own on the property, as required by HUD HOME regulations. The City will release all City liens on the property as a result of the sale and will retain $1,100.00 in City fees, including $600.00 to the Park and Recreation Department for mowing and $500.00 to the Code Compliance Department for securing the structure. All net proceeds of the sale will be receipted as program income, as required under HOME regulations, and will be reprogrammed for HOME- funded projects in the 2016-17 Action Plan as listed in the M&C G-18793. This property, which is described as Lot 3, Block 32, South Hemphill Heights Addition, is zoned MU-1 and is located in COUNCIL DISTRICT 9, Mapsco 077W. Form 1295 will be provided upon contract execution if the contract is with a business entity. This M&C does not request approval of a contract with a business entity. FISCAL INFORMATIONICERTIFICATION: The Director of Finance certifies that the Neighborhood Services Department is responsible for the deposit of funds received at closing. TO Fund Department Account Project Program Activity Budget Reference# Amount ID ID Year I (Chartfield 2) FROM Fund Department Account Project Program Activity Budget Reference# Amount ID I I ID Year Chartfield 2) Submitted for City Manager's Office by: Fernando Costa (6122) Originating Department Head: Aubrey Thagard (8187) Additional Information Contact: Avis Chaisson (6342) Bette Chapman (6125) ATTACHMENTS 3009 Hemphill Street Map.pdf http://apps.cfwnet.org/council packet/me review.asp?ID=24162&councildate=2/7/2017 4/4/2017 CERTIFICATE OF INTERESTED PARTIES FORM 1295 1of1 Complete Nos.l-4 and 6 0 there are interested parses. OFFICE USE ONLY Complete Nos.1,2,3,5,and 6 if there are no interested parties_ CERTIFICATION OF FILING 1 Name of business entity filing form,and the city,state and country of the business entity's place Certificate Number: of business. 2017-188763 GEMS Texas Real Estate Holdings,LLC colleyville,TX United States Date Piled: 2 Name of governmental entity or state agency that is a party to the contract for which the form is 04/06/2017 being filed. City Of Fort Worth Date Acknowledged: 3 Provide the identification number used by the governmental entity or state agency to track or identify the contract,and provide a description of the services,goods,or other property to be provided under the contract. none provided purchase of 3009 Hemphill,Fort Worth from the city 4 Nature of interest Name of interested Party City,State,Country(place of business) (check applicable) Controlling Intermediary Speight,Matt colleyville,TX United States X East,Calvin colleyville,TX United States X 5 Check only if there is NO interested Party. 6 AFFIDAVIT t swear,or affirm,under penalty of perjury,that the above disclosure is true and correct. Signature of authorized agent of contracting business entity AFFIX NOTARY STAMP/SEAL ABOVE r Sworn -tto and subscribed before me,by the said l•��u'-�a— ' f"'i this the�_day of G� f 20 / ` to certify which,witness my hand and sea]of o 9T-. LAVONNE S. KEITH 1" tdota:y 1 ublic,5tatc r"Texas comm,Ek�ires d3-31-2020 F*� Notar{ill 737793-8 ignature of Acer administering oath Printed name of officer administering oath Title of officer administering oath Forms provided by Texas Ethics Commission www.ethics.state.tx.us Version V1.0.883