HomeMy WebLinkAboutContract 49205 e 7 89 10 CITY SECRETARY
rr� CONTRACT NO.
CONTRACT OF SALE AND PURCHASE
(Sale by City of Fort Worth)
CONTRACT OF SALE AND PURCHASE ("Contract") is made and
6 q1 gr to by and between the CITY OF FORT WORTH, TEXAS, a home rule
unicipal Corporation of the State of Texas, located within Tarrant, Denton, Parker, and
Wise Counties, Texas, acting by and through its duly authorized City Manager or
Assistant City Manager ("Seller") and MELCHIORS HOLDINGS LLC., ("Purchaser")
as of the date on which this Contract is executed by the last to sign of Seller and
Purchaser('Effective Date").
RECITALS
1. Seller is the owner of 914 E. Oleander Street, Fort Worth, Texas, as shown and
more particularly described on the attached Exhibit "A", incorporated herein for
all purposes (collectively,the"Property").
2. Purchaser desires to acquire the Property for provision of additional off street
parking for a retail development across the street. Purchaser is an investor in said
development.
3. Seller will convey the Property through direct sale in accordance with Section
272.001(b) (6) of the Texas Local Government Code.
AGREEMENT
In consideration of the mutual covenants, representations, warranties and
agreements contained herein, and for other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, Seller and Purchaser agree as follows:
Section 1. Agreement of Sale and Purchase.
(a) Seller agrees to sell and convey the Property to Purchaser, and Purchaser
agrees to purchase and accept the Property from Seller, for the purchase price (as defined
below), subject to the terms and conditions set forth in this Contract.
(b) Seller shall convey the Property to Purchaser free 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 (as defined below in Section 3) and
the survey (as defined below) that are not cured and that are subsequently waived
pursuant to Section 3 ("Permitted Encumbrances") and any express reservations
described herein.
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CFW Sales Contract
CITY SECRETARY
FT.WORTH,TX
(c) In Seller's conveyance of the Property to Purchaser, the following rights
and interests shall be reserved to Seller (or have previously been reserved by Seller's
predecessor in title), and such reservation is hereby approved for al purposes: all right,
title, and interest in and to all oil, gas, and other minerals in and under the Property, if
any. Seller waives and conveys to Purchaser the right of ingress and egress to and from
the surface of the Property relating to the portion of the mineral estate owned by Seller.
Section 2. Independent Contract Consideration, Purchase Price, and Earnest
Money.
(a) Contemporaneously with the execution of this Contract, Purchaser hereby
delivers to Seller the amount of Fifty and 00/100 Dollars ($50.00) ("Independent Contract
Consideration") which amount the parties bargained for and agreed to as consideration
for Seller's execution and delivery 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 nonrefundable, and shall be retained by Seller
notwithstanding any other provision of this Contract.
(b) The purchase price ("Purchase Price") for the Property, payable by
Purchaser to Seller in cash at closing (defined below), is Eleven Thousand and 00/100
Dollars ($11,000.00). Seller has determined that the Purchase Price reflects the current
fair market value of the Property.
(c) Within five (5) days after the execution and delivery of this Contract by
Seller to Purchaser, Purchaser shall deliver to title company(as defined below in) a check
payable to the order of title company or other means of funding reasonably satisfactory to
Seller earnest money in the amount of One Thousand and 00/100 Dollars ($1,000.00)
("Earnest Money"). Purchaser's failure to deposit the Earnest Money as provided herein
shall entitle Seller to void this Contract. The Earnest Money shall secure Purchaser's
performance of its closing obligations stated in this Contract. Title Company shall hold
the Earnest Money in escrow and deliver it in accordance with the provisions of this
Contract.
Section 3. Title Commitment and Survey.
(a) Within thirty (30) days after the Effective Date, Purchaser may obtain at
Purchaser's sole cost and expense (i) a Commitment for Title Insurance and Title Policy
("Title Commitment") from the Title Company of Purchaser's choice ("Title Company"),
setting forth the status of the title of the Property and showing all Encumbrances and
other matters, if any, relating to the Property; and (ii) a legible copy of all documents
referred to in the Title Commitment, including but not limited to, plats, reservations,
restrictions, and easements.
(b) Within twenty-five (25) days after date of the approval of the Fort Worth
City Council of the sale of the Property, Purchaser shall obtain, at Purchaser's sole cost
and expense, an updated survey("Survey") consisting of a plat and field notes describing
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CFW Sales Contract
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
easement, (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. The description of the Property prepared as a part of
the Survey will be used in all of the documents set forth in this Contract that requires a
legal description of the Property.
(c) If the Title Commitment or Survey discloses any Encumbrances or other
matters that are not acceptable to Purchaser in Purchaser's sole discretion, then Purchaser
shall give Seller written notice thereof within fifteen (15) days after receipt of the Title
Commitment, Survey and all documents referred to in the Title Commitment, specifying
Purchaser's objections ("Objections"), if any. If Purchaser gives such notice to Seller,
Seller shall use its best efforts to cure the Objections, but shall be under no obligation to
do so.
(d) If Purchaser gives notice of Objections and Seller does not cure the
Objections, cause the Title Commitment and Survey to be amended to give effect to
matters that are cured, and give Purchaser written notice thereof within the fifteen (15)
day period following receipt of the notice from Purchaser ("Cure Period"), Purchaser
shall have the right either(i) to terminate this Contract by giving written notice thereof to
Seller at any time after the expiration of such Cure Period but prior to the expiration of
the option period (as defined below), and, upon such termination, Purchaser shall be
entitled to the return of the Earnest Money, and neither party hereto shall have any further
rights or obligations; or (ii) to waive the Objections and consummate the purchase of the
Property subject to the Objections which shall be deemed to be Permitted Encumbrances.
Notwithstanding the foregoing sentence, if Seller has commenced curing the Objections
and is diligently prosecuting the same, as determined by Purchaser in Purchaser's sole
discretion, then Purchaser in Purchaser's sole discretion may extend the Cure Period for
an amount of time Purchaser deems necessary for Seller to cure the same.
Section 4. Review Reports. Within five (5) days after the Effective Date, Seller
shall deliver to Purchaser for Purchaser's review any environmental or engineering
reports and studies in Seller's possession concerning the Property("Reports")
Section 5. Representations,Warranties, "AS IS"
(a) EXCEPT AS EXPRESSLY STATED IN THIS AGREEMENT,
PURCHASER ACKNOWLEDGES AND AGREES THAT SELLER HAS NOT
MADE, DOES NOT MAKE AND SPECIFICALLY NEGATES AND DISCLAIMS
ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS,
AGREEMENTS OR GUARANTIES OF ANY KIND OR CHARACTER
WHATSOEVER, WHETHER EXPRESS OR IMPLIED, ORAL OR WRITTEN,
PAST, PRESENT OR FUTURE, OF, AS, TO CONCERNING OR WITH
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RESPECT TO (A) THE VALUE, NATURE, QUALITY OR CONDITION OF THE
PROPERTY INCLUDING, WITHOUT LIMITATION, THE WATER, SOIL AND
GEOLOGY, (B) THE INCOME TO BE DERIVED FROM THE PROPERTY, (C)
THE SUITABILITY OF THE PROPERTY FOR ANY AND ALL ACTIVITIES
AND USES WHICH PURCHASER MAY CONDUCT THEREON, (D) THE
COMPLIANCE OF OR BY THE PROPERTY OR ITS OPERATION WITH ANY
LAWS, RULES, ORDINANCES OR REGULATIONS OF ANY APPLICABLE
GOVERNMENTAL AUTHORITY OR BODY, (E) THE HABITABILITY,
MERCHANTABILITY, MARKETABILITY, PROFITABILITY OR FITNESS
FOR A PARTICULAR PURPOSE OF THE PROPERTY, (F) THE MANNER OR
QUALITY OF THE CONSTRUCTION OR MATERIALS, IF ANY,
INCORPORATED INTO THE PROPERTY, (G) THE MANNER, QUALITY,
STATE OF REPAIR OR LACK OF REPAIR OF THE PROPERTY, OR (H) ANY
OTHER MATTER WITH RESPECT TO THE PROPERTY, AND
SPECIFICALLY, THAT SELLER HAS NOT MADE, DOES NOT MAKE AND
SPECIFICALLY DISCLAIMS ANY REPRESENTATIONS REGARDING
COMPLIANCE WITH ANY ENVIRONMENTAL PROTECTION, POLLUTION
OR LAND USE LAWS, RULES, REGULATIONS, ORDERS OF
REQUIREMENTS, INCLUDING SOLID WASTE, AS DEFINED BY THE U. S.
ENVIRONMENTAL PROTECTION AGENCY REGULATIONS AT 40 C.F.R.,
PART 261, OR THE DISPOSAL OR EXISTENCE IN OR ON THE PROPERTY,
OF ANY HAZARDOUS SUBSTANCE, AS DEFINED BY THE
COMPREHENSIVE ENVIRONMENTAL RESPONSE COMPENSATION AND
LIABILITY ACT OF 19809 AS AMENDED, AND REGULATIONS
PROMULGATED THEREUNDER. PURCHASER FURTHER
ACKNOWLEDGES AND AGREES THAT HAVING BEEN GIVEN THE
OPPORTUNITY TO INSPECT THE PROPERTY, PURCHASER IS RELYING
SOLELY ON ITS OWN INVESTIGATION OF THE PROPERTY AND NOT ON
ANY INFORMATION PROVIDED OR TO BE PROVIDED BY SELLER. AS A
MATERIAL PART OF THE CONSIDERATION FOR THIS AGREEMENT,
SELLER AND PURCHASER AGREE THAT PURCHASER IS TAKING THE
PROPERTY "AS IS" WITH ANY AND ALL LATENT AND PATENT DEFECTS
AND THAT THERE IS NO WARRANTY BY SELLER THAT THE PROPERTY
IS FIT FOR A PARTICULAR PURPOSE. PURCHASER ACKNOWLEDGES
THAT IT IS NOT RELYING UPON ANY REPRESENTATIONS, STATEMENTS,
ASSERTIONS OR NON-ASSERTIONS BY THE SELLER WITH RESPECT TO
THE PROPERTY CONDITION, BUT IS RELYING SOLELY UPON ITS
EXAMINATION OF THE PROPERTY. PURCHASER TAKES THE PROPERTY
UNDER THE EXPRESS UNDERSTANDING THERE ARE NO EXPRESS OR
IMPLIED WARRANTIES (EXCEPT FOR LIMITED WARRANTIES OF TITLE
SET FORTH IN THE CLOSING DOCUMENTS). UPON CONVEYANCE, AS
BETWEEN SELLER AND PURCHASER, THE RISK OF LIABILITY OR
EXPENSE FOR ENVIRONMENTAL PROBLEMS AFFECTING THE
PROPERTY, EVEN IF ARISING FROM EVENTS BEFORE CLOSING, WILL
BE THE SOLE RESPONSIBILITY OF PURCHASER, REGARDLESS OF
WHETHER THE ENVIRONMENTAL PROBLEMS WERE KNOWN OR
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UNKNOWN AT CLOSING. ONCE CLOSING HAS OCCURRED, PURCHASER
INDEMNIFIES, HOLDS HARMLESS AND RELEASES SELLER FROM
LIABILITY FOR ENVIRONMENTAL PROBLEMS AFFECTING THE
PROPERTY, INCLUDING, BUT NOT LIMITED TO, UNDER THE
COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION AND
LIABILITY ACT ("CERCLA"), THE RESOURCE CONSERVATION AND
RECOVERY ACT (RCRA), THE TEXAS SOLID WASTE DISPOSAL ACT OR
THE TEXAS WATER CODE. PURCHASER INDEMNIFIES, HOLDS
HARMLESS AND RELEASES SELLER FROM ANY LIABILITY FOR
ENVIRONMENTAL PROBLEMS OR CONDITIONS AFFECTING THE
PROPERTY ARISING AS THE RESULT OF SELLER'S OWN NEGLIGENCE
OR THE NEGLIGENCE OF SELLER'S REPRESENTATIVES, BUT NOT ANY
WILLFUL ACTS OR OMISSIONS OR GROSS NEGLIGENCE OF SELLER OR
SELLER'S REPRESENTATIVES. PURCHASER INDEMNIFIES, HOLDS
HARMLESS AND RELEASES SELLER FROM ANY LIABILITY FOR
ENVIRONMENTAL PROBLEMS OR CONDITIONS AFFECTING THE
PROPERTY ARISING AS A RESULT OF THEORIES OF PRODUCTS
LIABILITY AND STRICT LIABILITY, OR UNDER NEW LAWS OR CHANGES
TO EXISTING LAWS ENACTED AFTER CONVEYANCE DATE THAT
WOULD OTHERWISE IMPOSE ON SELLER IN THIS TYPE OF
TRANSACTION NEW LIABILITIES FOR ENVIRONMENTAL PROBLEMS OR
CONDITIONS AFFECTING THE PROPERTY. PROVISIONS OF THIS
SECTION SHALL SURVIVE THE CLOSING. IT IS UNDERSTOOD AND
AGREED THAT THE PURCHASE PRICE HAS BEEN ADJUSTED BY PRIOR
NEGOTIATION TO REFLECT THAT ALL OF THE PROPERTY IS SOLD BY
SELLER AND PURCHASED BY PURCHASER SUBJECT TO THE
FOREGOING. PURCHASER ACKNOWLEDGES AND ACCEPTS ALL THE
TERMS AND PROVISIONS BY HIS ACCEPTANCE HEREOF.
b. The provisions of Section 5(a) shall be incorporated into the Deed.
C. The provisions of Section 5(a) shall survive the closing(as defined below).
Section 6. Option Period.
(a) Notwithstanding anything to the contrary contained in this Contract, until
five (5) days after the Effective Date ("Option Period"), the following is a condition
precedent to Purchaser's obligations under this Contract:
Purchaser being satisfied in Purchaser's sole and absolute discretion that
the Property is suitable for Purchaser's intended uses, including, without
limitation, Purchaser being satisfied with the results of the Tests (defined
in Section 7 below).
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(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 termination, Purchaser shall be entitled to the return
of the Earnest Money and neither party shall have any further rights or obligations under
this Contract.
(c) If Purchaser does not terminate this Contract prior to the expiration of the
Option Period, then the Earnest Money shall become non-refundable to Purchaser except
in the event of Seller's default in the performance of Seller's obligations under this
Contract, and Title Company shall release the Earnest Money to Seller at any time
thereafter upon request by Seller.
(d) The provisions of this Section 6 control all other provisions of this
Contract.
(e) The parties agree that the Option Period will not be extended upon
expiration without a written amendment signed by both parties.
Section 7. Tests. 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 analyses, and other tests, studies and surveys, including without
limitation, environmental and engineering tests, borings, analyses, site assessments, and
studies ("Tests). Any Tests shall be conducted at Purchaser's sole risk and expense, and
Purchaser agrees to indemnify and defend Seller and the Property from any liens and
claims resulting from such Tests. The Property will be restored by Purchaser to its
original condition at Purchaser's sole expense following any site work. 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.
Section 8. Closing Contingencies.
(a) The closing ("Closing") of the sale of the Property by Seller to Purchaser
shall occur through the office of the Title Company no more than (15) days after the
satisfaction of the following contingencies to Closing ("Closing Contingencies"), but not
later than June 30,2017. The Closing Contingencies are as follows:
(1) The Fort Worth City Council must approve the sale of the Property
at a public meeting.
(b) Purchaser agrees to pursue the approvals and agreements described in the
Closing Contingencies above with reasonable diligence. Seller agrees to cooperate fully
with Purchaser in connection with Purchaser's pursuit of the above approvals.
(c) If any Closing Contingencies are not satisfied by June 30, 2017, then this
Contract shall terminate, and upon the termination, the Earnest Money shall be refunded
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to Purchaser with any interest earned and neither party will have any further rights or
obligations hereunder; however, the deadline for Closing Contingencies may be extended
if the Closing Contingencies are not satisfied if agreed to in writing by the parties.
Section 9. Closin>:.
(a) Closing shall occur no later than July 31,2017, unless extended by mutual
agreement of the parties. At the Closing, all of the following shall occur, all of which are
deemed concurrent conditions:
(1) Seller, at Purchaser'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, conveying to Purchaser good and
indefeasible fee simple title to the Property subject to existing
easements, rights-of-way, and prescriptive rights, whether of
record or not, with the precise form of the Deed to be determined
pursuant to Section 11 below;
(ii) Any other instrument or document necessary for Title
Company to issue the Owner Policy in accordance with Section
9(a)(3)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 such other means of funding acceptable to Seller, in an amount
equal to the Purchase Price, adjusted for closing costs and prorations.
(3) The Title Company shall issue to Purchaser, at Purchaser's sole
cost and expense, a Texas Owner Policy of Title Insurance ("Owner
Policy") issued by Title Company in the amount of the Purchase Price
insuring that, after the completion of the Closing, Purchaser is the owner
of indefeasible fee 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 area," 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 parries in
possession, and the standard exception for taxes shall read: "Standby Fees
and Taxes for [the year of Closing] and subsequent years, and subsequent
assessments for prior years due to change in land usage or ownership".
(4) The Earnest Money (including any Additional Earnest Money)
shall be applied to the Purchase Price at Closing.
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(5) Seller and Purchaser shall each pay their respective attorneys'fees.
(6) Any easements conveyed to the Seller will be at no cost to the
Seller.
(7) Except as otherwise provided herein, all costs and expenses in
connection with Closing shall be paid or borne by Purchaser including
without limitation, Title Company attorney and escrow or settlement fees,
costs of tax certificates, survey costs, and title insurance policy costs.
(b) Ad valorem and similar taxes and assessments, if any, relating to the
Property shall be paid by Purchaser. The provisions of this Section 9(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.
Section 10. A ents. Seller and Purchaser each represent and warrant to the
other that it has not engaged the services of any agent, broker, or other similar party in
connection with this transaction except the following: NONE
. Purchaser shall be solely responsible for and shall indemnify Seller from
payment of any brokerage fees or commissions.
Section 11. Closinp-Documents. No later than fifteen (15) days prior to the
Closing, Seller shall deliver to Purchaser a copy of the Special Warranty Deed,which is
subject to Purchaser's reasonable right of approval.
Section 12. Notices.
(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, (ii) delivered in person at the Closing(if that party is present at
the Closing), (iii) placed in the United States mail, return receipt requested, addressed to
such party at the address specified below, or (iv) 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 Seller under this Contract is:
City of Fort Worth With a copy to:
200 Texas Street Leann Guzman
Fort Worth,Texas 76102 Section Chief
Property Management Department City Attorney's Office
Attention: Real Property Division City of Fort Worth.
Laura B. Morales, Senior Land Agent 200 Texas Street
Telephone(817) 392-2311 Fort Worth, Texas 76102
(817) 392-8973
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(c) The address of Purchaser under this Contract is:
600 E. Rosedale St., Suite 105
Fort Worth,Texas 76104
(d) From time to time either party may designate another address or telecopy
number under this Contract by giving the other party advance written notice of the
change.
Section 13. 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 perform 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 hereunder, and Title Company
shall deliver the Earnest Money to Seller as liquidated damages, free of any claims by
Purchaser or any other person with respect thereto. It is agreed that the Earnest Money to
which the Seller is entitled hereunder is a reasonable forecast of just compensation for the
harm that would be caused by Purchaser's breach and that the harm that would be caused
by such breach is one that is incapable or very difficult of accurate estimation, and that
the payment of these sums upon such breach shall constitute full satisfaction of
Purchaser's obligations hereunder.
(b) If Seller fails or refuses to consummate the sale of the Property pursuant to
this Contract at Closing or 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 terminate this Contract by giving written notice thereof to Seller
prior to or at the Closing whereupon the Earnest Money shall be returned to Purchaser
and neither party hereto shall have any further rights or obligations hereunder.
(c) If either Seller or Purchaser becomes entitled to the Earnest Money upon
cancellation of this Contract in accordance with its terms, Purchaser and Seller covenant
and agree to deliver a letter of instruction to the Title Company directing disbursement of
the Earnest Money to the party entitled thereto.
Section 14. 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.
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Section 15. AssiLms. This Contract inures to the benefit of and is binding on the
parties and their respective legal representatives, successors, and assigns. Any attempted
assignment shall be void.
Section 16. Time of the Essence. It is expressly agreed that time is of the
essence with respect to this Contract.
Section 17. Taking Prior to Closing. If, prior to Closing, the Property or any
portion thereof becomes subject to a taking by virtue of eminent domain, Purchaser may,
in Purchaser's sole discretion, either (i) terminate this Contract whereupon the Earnest
Money shall be returned to Purchaser, and neither party shall have any further rights or
obligations hereunder, 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 after the
taking.
Section 18. Governing Law. This Contract shall be governed by and construed in
accordance with the laws of the State of Texas.
Section 19. 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 20. Venue. Venue of any action brought under this Contract shall be in
Tarrant County, Texas if venue is legally proper in that county.
Section 21. 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 22. Business Days. If the Closing or the day for performance of any act
required under this Contract falls on a Saturday, Sunday, or legal holiday for the City of
Fort Worth or federal holiday, then the Closing or the day for such performance, as the
case may be, shall be the next following regular business day.
Section 23. Multiple Counterparts. This Contract may be executed in any
number of identical counterparts. If so executed, each of such counterparts is to be
deemed an original for all purposes, and all such counterparts shall, collectively,
constitute one agreement, but, in making proof of this Contract, it shall not be necessary
to produce or account for more than one such counterpart.
[SIGNATURES APPEAR ON THE FOLLOWING PAGE]
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CFW Sales Contract
This Contract is executed as of the Effective Date.
SELLER:
CITY OF FORT WORTH,TEXAS
C��
By:
Jesus J. Chapa, Assistant City Manager
Date: 6?—1 :?> —1
City of Fort Worth Contract Compliance Manager:
By signing I acknowledge that I am the person responsible
for the monitoring and administration of this contract, including
ensuring all performance and reporting requirements.
me o Emp
Title: CQ
Approved as to Form and Legality
t 1
(Assistant City Attorney
Attest .. ....
ary Kays * ;_
City Secre
M&C:
1295:
PURCHASER(S):
MELCHOWS HOLDINGS LLC
�8
Name: MATi1f1JS MELCHIORS
Name: Jie Melchiors
Title: Owner(s)
Date: 6-'3 - j —
Page 11 of 13 OFFICIAL RECORD
CFW Sales Contract CITY SECRETARY
FT.WORTH,TX
By its execution below, Title Company acknowledges receipt of the Earnest Money
described in this Contract and agrees to hold and deliver the same and perform its other
duties pursuant to the provisions of this Contract.
TITLE COMPANY:
By:
Name:
Title:
Date:
Phone
Fax
Page 12 of 13
CFW Sales Contract
By its execution below, Title Company acknowledges receipt of the Earnest Money
described in this Contract and agrees to hold and deliver the same and perform its other
duties pursuant to the provisions of this Contract.
TITLE COMPANY:
By:
Name:
Title:
Date:
Phone
Fax
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Page 12 of 13
CFW Sales Contract
Exhibit"A"
Property
Block 1, Lot 31, Graves and McDaniel Subdivision of Block 8 Evans South Addition to
the City of Fort Worth, Tarrant County, Texas, according to the Deed recorded in
Volume 9846, Page 1902, Deed Records of Tarrant County, Texas, together with any
easements, rights-of-way, licenses, interests, benefits, privileges and rights appurtenant
thereto
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CF'W Sales Contract
6/8/2017 M&C Review
011u I'd ,,I, ut Ili,.lily(A Iuil Vh)ith, h-i;
CITY COUNCIL AGENDA FORT Il
COUNCIL ACTION: Approved on 6/6/2017
REFERENCE.,L-16041 914 EAST OLEANDER
DATE: 6/6/2017 NO.: L-16041 LOG NAME: SURPLUS PROPERTY SALE
CODE: L TYPE: CONSENTPUBLIC NO
HEARING:
SUBJECT: Authorize Sale of City-Owned Surplus Property Located at 914 East Oleander to Melchiors
_,Holdings, LLC, for a Total Purchase Price of$12,600.00 (COUNCIL DISTRICT 8)
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the sale of City-owned surplus property located at 914 East Oleander to Melchiors
Holdings, LLC, for a total purchase price of$12,600.00; and
2. Authorize the City Manager or his designee to execute and record the appropriate instrument
conveying the property to complete the sale.
DISCUSSION:
The City of Fort Worth owns a fee-simple interest in the surplus property located at 914 East
Oleander. This property has been reviewed by all departments and a determination was made that the
City does not need the property and deems the property surplus. The property is included in a
development plan which will stimulate economic development within the existing Neighborhood
Empowerment Reinvestment Zone. The interested buyer, Melchiors Holdings, LLC, submitted a direct
sale written request to the Property Management Department to purchase the surplus property and
plans to use the vacant lot for an office retail building development. The Planning and Development
Department has reviewed and zoned the property NS-T4R.
An independent appraisal of the surplus property was performed to establish Fair Market Value (FMV)
in the amount of$11,000.00. As part of the real estate transaction, the buyer has agreed to purchase
the property subject to any easements and encumbrances. As part of the process, the buyer has
performed due diligence on the property including a title search. The City will convey title to the buyer
through a Special Warranty Deed and will retain all mineral interests owned in the property. The buyer
has agreed to pay all closing costs, including an administrative and maintenance fee.
Property Legal Description FMV Purchase CFW
ATotal Cost
Address Price Fees
Lot 31, Block 1, Graves and
914 East McDaniel Subdivison of $11,000.00 $1,600.00 $12,600.00
Oleander Block 8 Evans South
Addition
This property is located in COUNCIL DISTRICT 8.
FISCAL INFORMATION/CERTIFICATION:
The Director of Finance certifies that the Property Management Department will be responsible for the
http://apps.cfwnet.org/counci I_packeVmc_revi ew.asp?ID=24661&counci Idate=6/6/2017 1/2
.6/8/2017 M&C Review
collection and deposit of funds.
TO
Fund Department Account Project Program Activity Budget Reference# Amount
ID ID Year Chartfield 2
FROM
Fund Department Account Project Program Activity Budget Reference# Amount
ID ID Year Chartfield 2
Submitted for City Manager's Office by- Jay Chapa (5804)
Originating Department Head: Steve Cooke (5134)
Additional Information Contact: Roger Venables (6334)
Laura B Morales (2311)
ATTACHMENTS
914 E Oleander Form 1295.pdf
914 E Oleander MC GIS Marm)df
http://apps.cfwnet.org(council_Wket/mc review.asp?ID=24661&councildate=6/6/2017 212
914 E. OLEANDER STREET
CITY OF FORT WORTH FEE OWNED PROPERTY
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Copyright 2016 City of Fart North. Unauthorized reproduction is a violation of FORT ►I ORTHO
appli."laws.This product is for Informational proposes and may not have been
prepared for or be suitable for legal,wQhosring,or wveylrp purposes.It does not
represent an on-llhs d survey end repraeents only the approximate relallve
location of propany boundaries.Ther CNy of Fed North assumes no responsibUy for
the acaracy of Bald data.
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L-16041 C
CERTIFICATE OF INTERESTED PARTIES
FORM 1295
loll
Complete Nos.l-4 and 6 if there are interested parties. 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. 2017-197247
Melchiors Holdings LLC
Fort Worth,TX United States Date Filed:
2 Name of governmental entity or state agency that is a party to the contract for which the form is 04/2412017
being flied.
City of Fort Worth Land department Date Aclule
3 Provide the identification number used by the governmental entity or state agency to track or identify the contra ,andi&ovicle a
description of the services,goods,or other property to be provided under the contract,
914 E Oleander st
Purchase of city property
4 Nature of interest
Name of Interested Party City,State,Country(place of business) (check applicable)
Controlling intermediary
5 Check only if there is NO interested Party. 0
6 dab
I swear,or affirm,under penalty of perjury,that the above disclosure is true and correct.
Ee�Nolary
SA LYNN NICHOLSON
l0 N 130453882
Commission Expires
ovember 30,2019
Sign a orized agent of contracting business entity
AFFIX NOTARY STAMP/SEAL ABOVE
Sworn to and subscribed before me,by the said 1r 5 this the day of.42e-l.,
20 1 to certify which,witness my hand and seal of office. 1--.
Signature of officer 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