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HomeMy WebLinkAboutContract 33905 • CITY SECRETARY CONTRACT NO, PURCHASE CONTRACT THIS PURCHASE CONTRACT ("Contract") is made and entered into by and between the CITY OF FORT WORTH, TEXAS, acting by and through its duly authorized City Manager or Assistant City Manager ("Buyer") and Faustino Estrada and Cesar Reyes ("Seller") as of the date on which this Contract is executed by the last to sign of Seller and Buyer('Effective Date"). RECITALS 1. Seller is the owner of Lots 22 and 23,Block 36, J. M. Moody Addition, an addition to the City of Fort Worth, Tarrant County, Texas, according to the plat recorded in Volume 204, Page 17, Plat Records, Tarrant County, Texas and with a street address of 3273 and 3277 Hutchinson, Fort Worth, Texas 76106 together with any easements, rights-of-way, licenses, interests, and rights appurtenant thereto (collectively,the"Property"), 2. Buyer is a municipal corporation that desires to acquire the purchase of the Property for public use for drainage improvements to Lebow Channel. 3. Seller desires to sell the Property for fair market value for drainage improvements to Lebow Channel (Project Improvements) and will benefit the citizens of Fort Worth in general. AGREEMENT In consideration of the mutual covenants in this Contract, Seller and Buyer agree as follows: Section 1. Sale and Purchase. (a) Seller agrees to sell and convey the Property to Buyer, and Buyer 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 Buyer 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 that are not cured and that are subsequently waived pursuant to Section 3 below("Permitted Encumbrances"). Section 2. Purchase Price (a) The purchase price("Purchase Price") for the Property,payable by Buyer to Seller in cash at Closing(defined below), is Eight Thousand Six Hundred Dollars($8,600.00). OFFIClw1 KC05 .;w51.1u MY Section 3. Title Commitment and Survey. (a) Within thirty (30) days after the Effective Date, Buyer shall obtain, at Buyer's sole cost and expense (i) an Owner's Commitment for Title Insurance ("Title Commitment") from Alamo Title Company, Attn: Wilson Martin, 3500 Hulen Street, Fort Worth, Texas 76107,. Telephone Number 817-731-8715 and Fax Number 817-377-2292 ("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 ten (10) days after the Effective Date of this Contract, Seller shall provide to Buyer a copy of any survey of the Property in Seller's possession. Within forty-five (45) days after the Effective Date, Buyer may obtain, at Buyer's sole=cost and expense, an updated survey ("Survey") consisting of a plat and field notes describing the Property, prepared pursuant to a current on-the-ground staked survey performed by a registered public surveyor or engineer satisfactory to Buyer and Title Company. The Survey shall (i) be certified to Buyer, 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, 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 require a description of the Property. (c) If the Title Commitment or Survey discloses any Encumbrances or other matters which are not acceptable to Buyer in Buyer's sole discretion, then Buyer 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 Buyer's objections ("Objections"), if any. If Buyer 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 Buyer 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 Buyer written notice thereof within the fifteen (15) day period following receipt of the notice from Buyer("Cure Period"), Buyer 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, and, upon such termination, 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 Buyer in Buyer's sole discretion, then Buyer in Buyer's sole discretion may extend the Cure Period for an amount of time Buyer deems necessary for Seller to cure the same. Section 4. Review Reports. Within twenty (20) days after the Effective Date, Seller shall deliver to Buyer for Buyer's review any environmental reports and stud ea:. ov U- 2 - "^^ P possession concerning the Property ("Reports') that were conducted during or after the demolition of the former improvements on the Property. Section 5. Inspection of the Property (a) Buyer may enter the Property before closing to inspect the Property and conduct a Phase I Environmental. (b) Buyer must notify Seller in advance of Buyer's plans to inspect the Property and conduct and tests so that Seller may be present during such inspections or tests. Section 6. Option Period. (a) Notwithstanding anything to the contrary contained in this Contract, until ninety (90) days after the Effective Date ("Option Period"), the following is a condition precedent to Buyer's obligations under this Contract: Buyer being satisfied in buyer's sole and absolute discretion that the Property is suitable for Buyer's intended uses, including, without limitation, Buyer being satisfied with the results of the Tests (defined in Section 7 below). (b) If Buyer is not satisfied in Buyer's sole and absolute discretion as to the condition precedent described in Section 6(a) above, Buyer may give written notice thereof to Seller on or before the end of the Option Period, whereupon this Contract shall terminate. Upon such termination, and neither party shall have any further rights or obligations under this Contract. (c) The provisions of this Section 6 control all other provisions of this Contract. Section 7. Tests. Buyer, at Buyer'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 tests, borings, analyses, and studies ("Tests). Any engineering and feasibility tests shall be conducted at Buyer's sole risk and expense, and Buyer agrees to indemnify and defend Seller and the Property from any liens and claims resulting from such tests. Buyer shall be solely responsible for all costs of any environmental site assessments Buyer deems necessary. The Property will be restored by Buyer to its original condition at Buyer' sole expense following any site work. In the event this transaction does not close for any reason whatsoever, the Buyer shall release to Seller any and all independent test studies or tests results obtained during this inspection period. Section 8. Closin . (a) At the Closing, all of the following shall occur, all of which are deemed concurrent conditions: (1) Seller, at Seller's sole cost and expense, shall deliver or cause to be delivered to Buyer the following: (i) a General Warranty Deed ("Deed"), fully acknowledged by Seller, conveying to Buyer good and ii 7d='- ITY R4 - 3 - ll. simple title to the Property subject only to the Permitted Encumbrances, with the precise form of the Deed to be determined pursuant to Section 10 below; (ii) Any other instrument or document necessary for Title Company to issue the Owner Policy in accordance with Section 8(a)(3)below. (2) Buyer, at Buyer's sole cost and expense, shall deliver or cause to be delivered to Seller through the Title Company federally wired funds or a certified or cashier's check or such other means of funding acceptable to Seller, in an amount equal to the Purchase Price, adjusted for closing costs and prorations. (3) Title Company shall issue to Buyer, at Buyer's sole cost and expense, an 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, Buyer 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 parties 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) Seller and Buyer shall each pay their respective attorneys' fees. (5) Buyer shall pay all recording fees. (6) The City will conduct an environmental review of the Property and if an environmental hazard is found the City has the right to cancel this contract. (b) Ad valorem and similar taxes and assessments, if any, relating to the Property shall be prorated between Seller and Buyer as of the Closing Date, based on estimates of the amount of taxes that will be due and payable on the Property during the calendar year in which the Closing occurs. As soon as the amount of taxes and assessments on the Property for that year is known, Seller and Buyer shall readjust the amount of taxes to be paid by each party with the result that Seller shall pay for any taxes and assessments applicable to the Property up to and including the date of Closing, and Buyer shall pay for those taxes and assessments applicable to the Property after the Closing. The provisions of this Section 8(b) survive the Closing. (c) Upon completion of the Closing, Seller shall deliver possession of the Property to Buyer, free and clear of all tenancies of every kind. Section 9. Agents. Seller and Buyer each represent and warrant to the other that it has not engaged the services of any agent, broker, or other similar party in conne transaction. OPIUM W1051 Cif � � -4 - Section 10. ClosinL-Documents. No later than fifteen (15) days prior to the Closing Date, Seller shall deliver to Buyer a copy of the Deed, which is subject to Buyer's reasonable right of approval. Section 11. 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, (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, or (v) telecopied to the party at the telecopy number listed below, provided that the transmission is confirmed by telephone on the date of the transmission. (b) The address of Buyer under this Contract is: City of Fort Worth Real Property Services 1000 Throckmorton Street Fort Worth, Texas 76102 Attention: Jean Petr Telephone: 817-392-8367 (c) The address of Seller under this Contract is: Faustino Estrada and Cesar Reyes 2103 Prairie Avenue Fort Worth, TX 76106 (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 12. Termination, Default, and Remedies. (a) If Buyer 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 Buyer 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 Buyer prior to or at the Closing, whereupon neither party hereto shall have any further rights or 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 hereunde or at the Closing for any reason other than the termination of this Contract by Sell WtJJCO I� right so to terminate expressly set forth in this Contract or Buyer's failure to perform Buyer's obligations under this Contract, then Buyer shall have the right to terminate this Contract by giving written notice thereof to Seller prior to or at the Closing and neither party hereto shall have any further rights or obligations hereunder. Section 13. Entire Contract. This Contract (including the attached exhibits) contains the entire contract between Seller and Buyer, and no oral statements or prior written matter not specifically incorporated herein is of any force and effect. No modifications are binding on either party unless set forth in a document executed by that party. Section 14. Assigns. This Contract inures to the benefit of and is binding on the parties and their respective legal representatives, successors, and assigns. Neither party may assign its interest under this Contract without the prior consent of the other party. Section 15. Time for Execution. If Seller has not executed and returned a fully executed copy of this Contract to Buyer by 5:00 p.m., Fort Worth, Texas time on May 25, 2006, this Contract shall be null and void. Section 16. Time of the Essence. Time is of the essence under 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, Buyer may, in Buyer's sole discretion, either (i) terminate this Contract 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 date or the day for performance of any act required under this Contract falls on a Saturday, Sunday, or legal holiday, then the Closing date or the day for such performance, as the case may be, shall be the next following regular business day. Section 23. Counterparts. This Contract may be executed in multiple counterparts, each of which will be deemed an original,but which together will constitute one instrume-` R c This Contract is executed as of the Effective Date. BUYER: CITY OF FORT WORTH M —(a B Marc A. tt Assistant City Manager Date: I � f Contract authorization Attest Date Marty Hendrix City Secretary Approved to Le y and Form As istant Uy Attorney SELLER: Faustino Estrada Date: By: Cesar R yes Date: S- 3 -to By its execution below, Title Company agrees to perform its other duties pursuant to the provisions of this Contract. TITLE COMPANY: By: Z" ' I Name: D N N 14 0 u 11 - Title: ' S cD w / Date: - 7 - Uri 0114P- p��� a EXHIBIT "A" Description of Property Lots 22 and 23, Block 36, J. M. Moody Addition, an addition to the City of Fort Worth,Tarrant County, Texas, according to the plat recorded in Volume 204,Page 17,Plat Records, Tarrant County, Texas and with a street address of 3273 and 3277 Hutchinson,Fort Worth, Texas 76106. PC LEBOW 3273,77 HUTCHINSON-ESTRADA,REYES CqpIITY �}�j����qq'}}'q� �°8'�r,`}���r ACKNOWLEDGMENT THE STATE OF TEXAS § COUNTY OF TARRANT § This instrument was acknowledged before me on this day of , 2006, by Marc Ott, Assistant City Manager of the City of Fort Worth, Texas, a munici 1 corporation, on behalf of the City of Fort Worth, Texas. <T ,�ji� HETTIE LANE ;� Notary Public, State of exas MY COMMISSIONEXPI^E;July 26,2007 D ACKNOWLEDGMENT THE STATE OF TEXAS § COUNTY OF TARRANT § This instrument was acknowledged before me on this day of , 2006, by , 5e CL V10 Me414 50 0 Tel- tp- Notaky Public, State of Texas MEE CON OF TEXAS PIRES:, 2008 OFFIC JAL HMO CITY 0511!;12Ep1Uy ACKNOWLEDGMENT THE STATE OF TEXAS § COUNTY OF TARRANT § This instrument was acknowledged before me on this day of , 2006, by Marc Ott, Assistant City Manager of the City of Fort Worth, Texas, a municipal corporation, on behalf of the City of Fort Worth, Texas. Notary Public, State of Texas ACKNOWLEDGMENT THE STATE OF TEXAS § COUNTY OF TARRANT § This instrument was acknowled ed before me on this day of , 2006, by &,,�S jj v►e �S Tr x c.�'ety MARIA C. RINCON NotAry Public, State of Texas ROTARY PUBLIC STATE OF TEXAS COMMISSION EXPIRES: JANUARY 15, 2008 I OWNER POLICY OF TITLE INSURANCE Issued By POLICY NUMBERAlin 33-34-93- 28784 Alamo Title Insurance SUBJECT TO THE EXCLUSIONS FROM COVERAGE,THE EXCEPTIONS FROM COVERAGE CON- TAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS,ALAMO TITLE INSURANCE, a Texas corporation, herein called the Company,insures, as of Date of Policy shown in Schedule A,against loss or damage, not exceeding the Amount of Insurance stated in Schedule A,sustained or incurred by the Insured by reason of: 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Any statutory or constitutional mechanic's,contractor's,or materialmar's lien for labor or material having its inception on or before Date of Policy; 4. Lack of a right of access to and from the land; 5. Lack of good and indefeasible title. The Company also will pay the costs, attorneys'fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. IN WITNESS HEREOF,Alamo Title Insurance has caused this Policy to be executed by its President under the seal of the Company,but this Policy is to be valid only when it bears an authorized countersignature, as of the date set forth in Schedule A. Alamo Title Insurance t�jlE rN �' 1 � n President < m Secretary Form 33-34-93 Printed(4/02) Texas Form T-1:Owner Policy of Title Insurance-Effective 4/4/02 s G7 Q) U c O c� V = Im m U. ° W ~ C4 0. •0 H o N L Q = 0 p N — 6. r CCLo Q 3 Ea = oo U) HILLto w N CONDITIONS AND STIPULATIONS-Continued the prior written consent of the Company 10. REDUCTION OF INSURANCE.,REDUCTION OR TERMINATION OF LIABILITY, All payments under this Policy, except payments made for costs,attorneys'fees and expenses,shall reduce the amount of the insurance pro tanto. 11. LIABILITY NONCUMULATIVE, It is expressly understood that the Amount of Insurance under this Policy shall be reduced by any amount the Company may pay under any Policy insuring a mortgage to which exception is taken in Schedule B or to which the Insured has agreed,assumed or taken subject,or which is hereafter executed by an Insured and which is a charge or lien on the estate or interest described or referred to in Schedule A.and the amount so paid shall be deemed a payment under this Policy to the insured owner. 12. PAYMENT OF LOSS. (a) No payment shall be made without producing this Policy for endorsement of the payment unless the Policy has been lost or destroyed,in which case proof of loss or destruction shall be furnished to the satisfaction of the Company. (b) When liability and the extent of loss or damage has been definitely fixed in accordance with these Conditions and Stipulations,the loss or damage shall be payable within 30 days thereafter. 13. SUBROGATION UPON PAYMENT OR SETTLEMENT. (a) The Company's Right of Subrogation. Whenever the Company shall have settled and paid a claim under this Policy,all right of subrogation shall vest in the Company unaffected by any act of the Insured Claimant.The Company shall be subrogated to and be entitled to all rights and remedies that the Insured Claimant would have had against any person or property in respect to the claim had this policy not been issued.If requested by the Company,the Insured Claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect this right of subrogation.The Insured Claimant shall permit the Company to sue,compromise or settle in the name of the Insured Claimant and to use the name of the Insured Claimant in any transaction or litigation involving these rights or remedies. If a payment on account of a claim does not fully cover the loss of the Insured Claimant,the Company shall be subrogated to these rights and remedies in the proportion that the Company's payment bears to the whole amount of the loss. If loss should result from any act of the Insured Claimant,as stated above.that act shall not void this Policy,but the Company,in that event,shall be required to pay only that part of any losses insured against by this Policy that shall exceed the amount,if any,lost to the Company by reason of the impairment by the Insured Claimant of the Company's right of subrogation, (b) The Company s Rights Against Non-Insured Obligors. The Company's right of subrogation against non-insured obligors shall exist and shall include,without limitation,the rights of the insured to indemnities, guaranties,other policies of insurance or bonds,notwithstanding any terms or conditions contained in those instruments that provide for subrogation rignts by reason of this Policy. 14. ARBITRATION. Unless prohibited by applicable law or unless this arbitration section is deleted by specific provision in Schedule B of this Policy,either the Company or the Insured may demand arbitration pursuant to the Title Insurance Arbitration Rules of the American Arbitration Association.Arbitrable matters may include.but are not limited to,any controversy or claim between the Company and the Insured arising out of or relating to this Policy,and service of the Company in connection with its issuance or the breach of a Policy provision or other obligation.All arbitrable matters when the Amount of Insurance is$1,000,000 or less SHALL BE arbitrated at the request of either the Company or the Insured,unless the Insured is an individual person(as distinguished from a corporation,trust. partnership,association or other legal entity).All arbitrable matters when the Amount of Insurance is in excess of$1,000,000 SHALL BE arbitrated only when agreed to by beth the Company and the Insured.Arbitration pursuant to the Policy and under the Rules in effect on the date the demand for arbitration is made, or at the option of the Insured.the Rules in effect at the Date of Policy%hall be binding upon the parties.The award may include attorneys'fees only if the taws of the state in which the land is located permit a court to award attorneys'fees to a prevailing party.Judgment upon the award rendered by Arbitralor(s) may be entered in any court having jurisdiction thereof. The law of the situs of the land shall apply to any arbitration under the Title Insurance Arbitration Rules. A copy of the Rules may be obtained from the Company upon request. 15. LIABILITY LIMITED TO THIS POLICY:POLICY ENTIRE CONTRACT. (a) This Policy together with all endorsements, if any, attached hereto by the Company is the entire Policy and contract between the Insured and the Company. In interpreting any provision of this Policy,this Policy shall be construed as a whole. (b) Any claim of loss or damage whether or not based on negligence and which arises out of the status of the title to the estate or interest covered hereby or by any action asserting such claim shall be restricted to this Policy. (c) No amendment of or endorsement to this Policy can be made except by a writing endorsed hereon or attached hereto signed by either the President,a Vice President,the Secretary, an Assistant Secretary or validating officer or authorized signatory of the Company. 16. SEVERABILITY, In the event any provision of the Policy is held invalid or unenforceable under applicable law.the Policy shall be deemed not to include that provision and all other provisions shall remain in full force and effect. 17. NOTICES WHERE SENT. All notices required to be given the Company and any statement in writing required to be furnished the Company shall include the number of this Policy and shall be addressed to the Company at P.O.Box 45023,Jacksonville,Florida 32232-5023. COMPLAINT NOTICE. Should any dispute arise about your premium or about a claim that you have filed,contact the agent or write to the Company that issued the Policy. If the problem is not resolved,you also may write the Texas Department of Insurance,P.O.Box 149091,Austin,TX 78714-9091,Fax No.(512)475-1771. This notice of complaint procedure is for information only and does not become a part or condition of this Policy. City of Fort Worth, Texas Mayor and Council Communication COUNCIL ACTION: Approved on 7/25/2006 DATE: Tuesday, July 25, 2006 LOG NAME: 30MC LEBOW 3277 REFERENCE NO.: **L-14213 SUBJECT: Authorize Acquisition of Two Vacant Residential Lots Located at 3273 and 3277 Hutchinson, J. M. Moody Subdivision, Block 36, Lots 22 and 23 for Drainage Improvements to the Lebow Channel (DOE 4623) RECOMMENDATION: It is recommended that the City Council: 1. Authorize the acquisition of two vacant residential lots located at 3273 and 3277 Hutchinson, J. M. Moody Subdivision, Block 36, Lots 22 and 23 in conjunction with the drainage improvements to Lebow Channel; 2. Find that the price offered in the amount of $8,600, plus an estimated closing cost of $3,000, is just compensation; and 3. Authorize the execution of a purchase agreement with the owners and the acceptance and recording of appropriate instruments. DISCUSSION: In the 2004 Capital Improvement Program, funds were allocated for the Lebow Channel Drainage Improvement Project to alleviate flooding in multiple neighborhoods on the north side of Fort Worth. The 3273 and 3277 Hutchinson properties, J. M. Moody Subdivision, Block 36, Lots 22 and 23, are vacant residential lots that lie within the Lebow Channel floodway. Transportation and Public Works staff identified this property as an essential property to acquire for the Lebow Channel Drainage Improvement Project. The real estate taxes on this property will be pro-rated to the date of closing with the seller being responsible for any taxes due until the closing date. The City will pay closing and recording fees. It is estimated that the City's portion of any taxes due on the acquisition of this property and associated closing costs will not exceed $3,000.00. In addition to paying the just compensation amounts as listed below, staff recommends that any weed liens filed by the city on the properties be released, up to a maximum of $2,000, thereby providing the sellers with the just compensation as established. Seller Address Legal Price Property Faustino Estrada and 3273 Hutchinson J. M. Moody $8,600.00 Vacant Cesar Reyes 3277 Hutchinson Subdivision Residental Block 36, Lots 22, 23 Estimated Tax and Closing Costs $3,000.00 Total Estimated Cost $11,600.00 .ogname: 60SOUTHWEST Page 1 of 2 The Property is located in COUNCIL DISTRICT 2, Mapsco 63A. FISCAL INFORMATION/CERTIFICATION: The Finance Director certifies that funds will be available in the current Capital Budget, as appropriated, of the Street Improvements Fund. TO Fund/Account/Centers FROM Fund/Account/Centers C200 541100 202280008441 $11,600.00 Submitted for City Manager's Office by: Marc A. Ott(6122) Originating Department Head: A. Douglas Rademaker (6157) Additional Information Contact: A. Douglas Rademaker (6157) ,ogname: 60SOUTHWEST Page 2 of 2