HomeMy WebLinkAboutContract 35836�vY� ��cRErA�Y
C(�NTRACT I�� .
CONTRACT OF SALE AND PURCHASE
(Purchase by City of Fort Worth Parks and Community Services Department)
THIS CONTRACT OF SALE AND PURCHASE ("Contract") is made and entered into
by and between the CITY OF FORT WORTH, TEXAS, a home rule Municipal Corporation of
the State of Texas located within Tarrant, Denton, Parker, and Wise Counties, Texas, acting by
and through its duly authorized City Manager or Assistant City Manager ("Purchaser") and
Gerald G. Bednarik and Patricia F. Bednarik, ("Seller") 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 a tract of land out of the J. Lynch Survey, Abstract No. 942, Tarrant
County, Texas, and being all that certain tract of land described in deed to Lester S. Byrd
as recorded in Volume 8432, Page 2280, Deed Records, Tarrant County, Texas, and
containing approximately 160,684 sq. ft. or 3.689 acres, together with any easements,
rights-of-way, licenses, interests, and rights appurtenant thereto (collectively, the
"Property"), as shown and more particularly described on the attached Exhibit "A",
incorporated herein for all purposes.
2. Purchaser is a municipal corporation that desires to acquire the Property for public use.
3. Seller desires to sell the Property for fair market value for public use, which will benefit
the citizens of the City of Fort Worth in general.
AGREEMENT
In consideration of the mutual covenants in this Contract, Seller and Purchaser agree as
follows:
Section 1. 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 and the survey (as defined below in Section 3) that are not cured and that are
subsequently waived pursuant to Section 3 or ("Permitted Encumbrances").
(c) Seller shall convey all rights of title and interest in any water and water rights in
the Property. Seller shall retain all mineral interests in the Property except that Seller shall waive
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CFW PACS Purchase from Bednarik ;;:,:; V y;.,;',�
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any and all rights of egress and ingress upon or across the surface of the Property for purposes of
exploring for or developing oil, gas hydrocarbons, or other minerals.
Section 2. Independent Contract Consideration and Purchase Price.
(a) Contemporaneously with the execution of this contract, Purchaser delivers to
Seller a check in the amount of Fifty Dollars and 00/100 Dollars ($50.00) ("Independent
Contract Consideration") as independent consideration for Seller's execution, delivery and
performance of this Contract. This Independent Contract Consideration is in addition to and
independent of any other consideration or payment provided for in this Contract, is non-
refundable, and shall be retained by Seller notwithstanding any other provision of this Contract.
(b) The purchase price ("Purchase Price") for the Property, payable by Purchaser to
Seller at closing (defined below), is ONE HUNDRED FIFTY THOUSAND and 00/100
DOLLARS ($150,000.00). Seller has determined that the Purchase Price reflects the current fair
market value of the Property.
Section 3. Title Commitment and Survev.
(a) Within thirty (30) days after the Effective Date, Purchaser shall obtain at Seller's
sole cost and expense (i) an Owner's Commitment for Title Insurance ("Title Commitment")
from the 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 Purchaser a copy of a survey of the Property (the "Survey") at Seller's sole cost and expense.
The Survey shall consist 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 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, ar 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 require a
legal description of the Property.
(c) If the Title Commitment or Survey discloses any Encumbrances or other matters,
which 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.
CFW PACS Purchase from Bednarik
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Rev. 6/19/07
(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 of Objections 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
in Section 6) 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 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 and all environmental or engineering reports and
studies in Seller's possession concerning the Property, ("Reports").
Section 5. 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 analysis, and other tests, studies and surveys, including without limitation, environmental
and engineering tests, borings, analysis, 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 (as
defined below).
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
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 5
above).
(b) If Purchaser is not satisfied in Purchaser's sole and absolute discretion as to the
condition precedent described in Section 6(a) above, Purchaser may give written notice thereof
to Seller on or before the end of the Option Period, whereupon this Contract shall terminate.
Upon such termination, neither party shall have any further rights or obligations under this
Contract.
CFW PACS Purchase from Bednarik
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Rev. 6/19/07
AUG-30-2007 THU 09;56 AM CITY OF FORT WORTH
FAX N0, 8173928361
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(c) Tf. 1'tucli�ser gir�es �lotice a�' Gor�tract te�mi�ation to Se11e: � under this Section, any
E�rnest Maney a1z�11 Ue ret�unecl to Purchaser. ;
;
(d) Tlle provision� of il�is Section 6 control a11'other pravisior.��� af. tl�is �Qnt��aot.
(e) Tll� . parties agree thttt ihe Qpfi14n Period ''wi11 n.ot be ea 'tended upon expiration
v'✓ithaut a written ai�en�ment si�ned Uy f�oth parties. �
�ectaan 7'. CloSan Contin encies I
I
(a) T,lie clasin� ("Closing") of the s�le af the P�'op��rty by t���11er to Purchaser shall
occlu tli.roXrgh t11� ofnce of the 7'itle C�mp�11y 1n no mor� than 1;15) day:� �.fl'er il�e s�iisP�G�io�i p'�'
1:he !'ollowing coiltingealcies to Closing ("Closing Canti�l�;encie;r"), bt�t rGot lat�r t1�an ���
�, 2007. The Closir�� �ontingencies are as follovvs: i ������''`=�
13v�°� , �
8 (1) NQNE �
�/�/� `� `i'� � �
,� j'� (U) Purchaser agrees ta put'sue th� �pprovals ��.d �gr��eil�ents :lescribed in tha Closiilg
Canti��genci�s �bove with re�sQn�ble dili�ence. Seller tt�,�ees tp coopei��,te fiilly witla Purcllaser
in connection with �'urcliasex's pursuit o.f th� ab��ve approvals.
rV, � � I J '1 , ��l,�-c%wr��
� (�) Tf aily Cl4si�i� Contingencies �t•e noi s�tis'�ec� to Purclla ��r's �tttisf�ctioll so �hat
;9'
. Furchaser is �repat'ed to close on or befar� ,���; 20Q"1, �l�e�i P��xchaser must termuiate
� � this Coni���Gt, �.t�.d titpon the te�nination, Seller shall re�a�i�n �1�� L�arnest f��ioney ar�d any ir�tierest
��� ° earned �ttr� n�ither party r�iil hav� any fui�ih�r ri�hts o;r obli�;ations t�,rretYnder; liow�ver, t11e
C1ag�iYg rnay be exten�l�d if the Closing Contingenci�s ar�� not s.xtis�ed i f' ��r�ed to in writing by
the p�.rtiEs. �; �?��''� ;
�'
L�., ,S��tip� $. C�usin� Subject ta SecCian (d) below, C;losing ��:ha11 occur ar� ar a#i�r
C� ,
g����o'lAL��sti 1.4, 2007, bu.t no Iater tll�.n�e , 2Q�7
f�,/�' �� (�.) At �l�e �Iosing, �11 a'�` �tlle follavri�sg wk�all or,cur, �.11 p� wlZich are deemed
� �/// � �J i
� � C011GL1T1�11t COria1t10I1S;
(1) Se1X�r, at Seller's sole cost and �;�pense, shAll ��.eli�ver or cause to U�
delivered ta �txrchaser the follawing: ;
i
(i) A Genezal �I'arrani� D�ed ("1]eed"), fii�11y executed ��ad
aclrnow'led�Ed by Sell.ea•, conveying to Ptxrciaaser ��yod and v�defeasible tee
simple title tn tlYe Property s«bjec1. only to t11e '�'�,rmil�l:ed �nclunbranaes,
with ilie pr�cise fon� �f the Deed tc� be deierna.inecl pursu�.nt io Section 10
below; i
{ii) Any other ii��trum�nt or docunie�l� �ecessr��y fQr Ti1�le Company ta
issue the Qwr�er Policy in �e�o�dan�ce wikn Sectio� � 8(a)(�) belQw.
i
CFW �ACS PurchAse fr�m Bec�narilc i
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! Rev. 6/19/a7
AUG-30-2007 THU 09;56 AM CITY OF FORT WORTH FAX N0, 8173928361
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(2) Purcllaser, at 1'urchaser's sole cost
Ue delivered to Ss11�r tJll'QLI�Il tlie Title
��rti,�i.ed os• cashier'� ch�cic or auch o�1ie� n�
�.n �rno�,ult equal to the Purchase Pric�, adjl�
P, O2
and e:tcpense, ��&�all deliver or caLtse ta
Ca�n��ny f.ed�;�ally wired .funds or a
;ans aFfundin,;; acceptabl� to SelIer, in
sted fRr c�osinq; costs �cl prar��io�ls.
(�) Ti1�Ie Cdrinpa�ly all�.11 issLte to Purcli;�ser, ��t Se�ler' �� sole cost �.nd expe�zse,
an Ownar Policy of Title YnsurAnce ("Own�r. Palicy") isst.�;;d by'J'itle Campany in
the amcauni aF the F��rch�se I�rice ins��ng that, atter t1�� compl�tion; of tl�e
Cloai�.g, P�u'chaser is the own�r o� indef��sible fee simjile title to the Property,
st�bj�ct o�1y to the permitted �ncumbr�i�c�:s, anct ilae �i�.tir�ard �rilYte+d exC�ptions
included in a Te��� Stand�rrl Fom�. Qw�xc;r Folicy o�' �'i CIe Insuranc�; providecl,
l�.owever, ilie prii��ed form surv,�y exe�ptiori shall b� limitr �d to "shortages in area,"
the printed �'orrn exception for restrictive I oaver�,aitts slla 11 l�e deleted e�cce�t tor
those restrictive c�v�zlanis that are Permitt�� L-;ncurr�br�:�uees, tllere shall be nQ
�xce�atiai� �'or rights aFparties in possessio�n, and tlie st��:l��d ��c�ep1io11 for %�x��
�1��11 r�ad: "Standby �'e�s �nd Taxe� fo�C �l�e ;ye� of �;�'Iosing and subseguent
y�ars, and subseque�ifi ttssess��ents fior prlcp� y�ars ciue io t�hange in land usage o.r
ownei�sl�ip��, i
(4) Se11er t�i�d �'��'cl��scr sh�.11 each pay
(S) 5�118r shall pay �11 �reaordirig fees
by tha Title Comp�.t��,
T65�7�Ot1V�, atto�,��ys� fees.
any other c�:losing casis as set forth
`� �(6) Sell�r sha11 �ay all alo�ing cas�s, � '
��� (?) Se �(e� �et.r� S�t s ru 3� E�. c H Ar�tGE
6(b) Ad valorern �.ud similar taxes �nd asaessj�.ents, i�" any, relating ia tl�e �raperty
shall lae pzotd�ed b�twe�n Seller a�nd Pu�'Ghaser as of t���.e Clc�sing, ba]ed on es�Ymates o�' t11c
�ia�a�u�.t o�'taxes tllat will be due �.nd .payable on the ]?r���rty dttt'ix�g t1��+ calendar year in w1�.ic1�
the �1os�r�g occurs. .4� soon as tk�e amou�it af iFuces and a'�s�ssrta.ents on 1 kye Prop�rt� !'�r that �e�'
is lcnounl, Se11er u�.d P�trchaser shall re�dj�Ys� the �.mount� of tax,ss io l�e ��aid by each. p�rty with
tlae 1•e�'G�lt tlxat SE11er shall pay fox �.ny taxes anc� assessine��t� apYalic��bl� 1�� tha Property up to �.nd
i��cluding the dat� af Closin�, and 1'urchaser sh�ll pay t'orlthose taxes aii�l as��s�ments applicable
to the ProperGy ali�r the Closin�. TIZ� provisians ofthis S�ctian.8(l.i) sur��i�e th� Closing.
(c) Upon compl�iion of the Closing, Se11�r shstll d.el�v�r pas�:���ion. o!'th� Property to
�'Gucl1aser, .f.�ee a�c1 clear of all tenanoies o�' ev�ry lcind. �
I (' ,��
(d,) I.f PuraY�aser is not prepared t� clQs� an or I�e�ore S��r�, 2007, tll� Closin�
m�y be �xCendeci �f agreed ta in writin� by the parties. i
��'�IJ� i
Sectiotn 9. ASents• Seller arid PurcllAsei- each �'�prose�nt and w�:n�nt to 11�e o�ller that it
;'���as not engaged tl�e �er�vices of any agen.t, b�'ol•er, or ot1��,r si��n.il�r parC�� in connection witli this
��'' � i �� ��'�nsaction. � I
«` ;
C�''VV PACS Purcu�se iE�om Bednarik
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Section 10. Closin� Documents. No later than fifteen (15) days prior to the Closing, Seller
shall deliver to Purchaser a copy of the General Warranty Deed, which is subject to Purchaser'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)
(c)
The address of Buyer under this Contract is:
City of Fort Worth
1000 Throckmorton Street
Fort Worth, Texas 76102
Attention: Laura B. Chavez
Real Property Services Division
Telephone: 817-3 92-2311
Fax (817) 392-8361
The address of Seller under this Contract is:
Gerald G. Bednarik and Patricia F. Bednarik
6509 Lake Side Circle
North Richland Hills, TX 76180
Telephone: 817-991-7474
Fax 817-
With a copy to:
Vicki Ganske
City Attorney's Office
City of Fort Worth
1000 Throckmorton
Fort Worth, Texas 76102
Telephone: (817) 392-7765
Fax (817) 392-8359
(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.
CFW PACS Purchase from Bednarik
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Rev. 6/19/07
Section 12. 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.
(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 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 Purchaser, and no oral statements or prior written matter not
specifically incorporated herein is of any force and effect. No modifications are binding on
either party unless set forth in a document executed by that party.
Section 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 written 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 Purchaser by 5:00 p.m., Fort Worth, Texas time on June 29, 2007, this
Contract offer shall be null and void.
Section 16. Taking Prior to Closin�. 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 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 17. Governin� Law. This Contract shall be governed by and construed in
accordance with the laws of the State of Texas.
Section 18. 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.
CFW PACS Purchase from Bednarik
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Rev. 6/19/07
Section 19. Venue. Venue of any action brought under this Contract shall be in Tarrant
County, Texas if venue is legally proper in that County.
Section 20. 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 21. 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, then the Closing or the day for
such performance, as the case may be, shall be the next following regular business day.
Section 22. Counterparts. This Contract may be executed in multiple counterparts, each of
which will be deemed an original, but which together will constitute one instrument.
[SIGNATURES APPEAR ON THE FOLLOWING PAGE]
CFW PACS Purchase from Bednarik
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Rev. 6/19/07
This Contract is EXECUTED as of the Effective Date.
SELLER:
GERALD G. BEDNARIK
PATRICIA F. BEDNARIK
6509 Lake Side Circle
North Richland Hills, TX 76108
B ' � �
y: z..��{ ,�.� ����-�,�:..��
Name: Gerald G. Bednarik
Date: ����-'�� `�
BUYER:
By:,��J � �
����. �. l��r...�-� �/�.
Name: Patricia F. Bednarik
Date: � , �4- (1 �"
CITY OF FORT W.0 TH, TEXAS
By:
Name: Marc A. Ott, Assistant Citv Manager
tte t '
Marty Hendrix, Secretary
M&C L' I�i--�T'i-t �ILo�IO_I
Date
DOE# �
APPROVED AS TO LEGALITY AND FORM
�; 1 �
,,� , � �� '
,;
Assistant City Attorne '
CFW PAC5 Purchase from Bednarik
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`J71��� �C�SC9�L�IL�.J^..
r�., 'i�' Ja���u �� ���5�
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-9—
Rev. 6/19/07
By its execution below, Title Company agrees to perform its other duties pursuant to the
provisions of this Contract.
TITLE COMPANY:
By:
Name:
Title:
Date:
CFW PACS Purcliase from Bednarik
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Rev. 6/19/07
EXHIBIT "A"
Description of Property
A tract of land out of the J. Lynch Survey, Abstract No. 942, Tarrant County, Texas, and being
all that certain tract of land described in deed to Lester S. Byrd as recorded in Volume 8432,
Page 2280, Deed Records, Tarrant County, Texas, and containing approximately 160,684 sq. ft.
or 3.689.
FINAL BEDNARIKCONTRACT W-O DRAFT WATER MARK OF FORT WORTH, TX
(�n1inC City Council Agenda
��RTW��TH
�� Fort Worth, Te�cas, is a city focusing on its �
fiiture. Together, we �re building strong
n�ighborh��ds, d�velo�ing � sound ecr�nc�rry
and praViding a safe community.
9/25/2007
WEATI$t =�
Page 1 of 2
__..� rl ���- I.� r
_ . _ , . . r�..; �.�.��.
�l Wela Sit� fa� th� Ci�y �f For� �/ot�fft, T�;rt�s
Hc�m� i R��id�nis � Bujiness in Ft. Worth � i�itt�r� Site Irrdex i C�ntact t�s
Print M&C
COUNCIL ACTION: Approved on 9/25/2007 - Ord. # 17804-09-2007
DATE: 9/25/2007 REFERENCE NO.: L-14399 LOG NAME: 30GATEWAYPARK
CODE: L TYPE:
NON-CONSENT PUBLIC NO
HEARING:
SUBJECT: Authorize the Appropriation of Funds from the Park Gas Lease Project Fund for the Acquisition of
3.685 Acres of Land Located on East 1 st Street for the Purpose of the Gateway Park Expansion
Project (DOE 5700) (City Project No. 337), Authorize Acceptance and Recording of Appropriate
Instruments and Adopt Appropriation Ordinance
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the appropriation of funds from the Park Gas Lease Project Fund for the acquisition of 3.685
Acres of land located on East 1st Street from property owners Gerald G. and Patricia F. Bednarik for the
purpose of the Gateway Park Expansion Project;
2. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations by
$157,500.00 in the Park Gas Lease Project Fund from Gas Well Bonus Revenues for Gateway Park; and
3. Authorize the acceptance and recording of appropriate instruments.
DISCUSSION:
This 3.685 acre parcel of land is located on East 1st Street which abuts Gateway Park on the Northwest and
was identified in the Gateway Park Master Plan adopted on May 14, 2002, M&C G-13624. An independent
third party appraisal was performed on the property and the agreed upon purchase price is $150,000, with
an additional $7,500.00 for applicable acquisition costs related to the purchase.
The legal description is as follows:
Grantor
Gerald G. &
Patricia F.
Bednarik
Estimated closing costs
Legal Description
A tract of land out of the
John Lynch Survey
Abstract 942, situated in
Tarrant County, Texas
Acres
3.685
Total
Amount
$150,000.00
$7,500.00
$157,500.00
Property acquisition to expand Gateway Park was listed as one of the exceptions to the gas well lease
http://www.fortworthgov.org/council�acket/mc_review.asp?ID=8244&councildate=9/25/2007 9/25/2007
Online City Council Agenda Page 2 of 2
revenues expenditure moratorium enacted April 17th, 2007.
The annual cost to maintain this parkland is estimated to be $3,560.22. The cost to maintain this parkland
for the remainder of the fiscal year is estimated to be $1,186.74.
The property is located in COUNCIL DISTRICT 4, Mapsco 64T.
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that funds are available in the Park Gas Lease Project Fund.
TO Fund/Account/Centers
C282 541100 801410033740 $150,000.00
C282 531350 801410033740 $7,500.00
Submitted for City Manager's Office bx:
Originating Department Head:
Additional Information Contact:
FROM Fund/Account/Centers
C282 446100 801920033740 $157,500.00
Marc A. Ott (8476)
A. Douglas Rademaker (6157)
Laura B. Chavez (2311)
ATTACHMENTS
30GATEWAYPARK.doc
http://www.fortworthgov.org/council�acket/mc_review.asp?ID=8244&councildate=9/25/2007 9/25/2007