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HomeMy WebLinkAboutContract 35251-A1 ITY AFI -'ON R CT No �� 5��a FIRST AMENDMENT TO PURCHASE CONTRACT This First Amendment to Purchase Contract ("First Amendment') is executed by CITY OF FORT WORTH, TEXAS, acting by and through its duly authorized City Manager or Assistant City Manager ("Seller"), and HARMONY REALTY, LTD., a Texas limited partnership("Purchaser"), to be effective as of September 22, 2008 (the"Amendment Date"). WHEREAS, Seller and Purchaser executed that certain Purchase Contract(City Secretary Contract Number 35251) with an effective date of April 19, 2007 (the "Contract"), for the purchase and sale of approximately 31,720 square feet of land located in Fort Worth, Tarrant County,Texas,as more particularly described in the Contract; and WHEREAS, Seller and Purchaser have agreed to amend the Contract as provided in this First Amendment. NOW, THEREFORE, in consideration of the mutual covenants and agreements contained in this First Amendment and in the Contract, and for other good and valuable consideration,which the parties acknowledge receiving, Seller and Purchaser agree as follows: 1, All capitalized terms used herein which are not otherwise defined have the same definitions as set forth in the Contract. 2. Section 6(a) of the Contract is hereby amended to provide that the "Option Period'shall expire at midnight on December 16, 2008. 3. Section 8(a) is hereby deleted in its entirety and replaced with the following: (a) The closing ("Closing") of the sale of the Property by Seller to Purchaser shall occur through the office of the Title Company on or before thirty (30) days after the satisfaction of the following contingencies to Closing ("Closing Contingencies"), but not later than January 9, 2009. The Closing Contingencies are as follows: (1) Purchaser having obtained all necessary municipal approvals for rezoning of the Property to "PD/H" Planned Development for all uses in "H central Business District, excluding pawn shops, tattoo parlors, blood bank, taverns/bars/ clubs except when associated with a hotel. Subject to the Downtown Design Review Guidelines Lancaster Corridor Zone, site plan waived." 4. The parties agree that (i) the $7,000 Additional Earnest Money deposited by Purchaser with Title Company on or about July 29, 2008 shall be treated as "Earnest Money" as provided under Section 2(c) and(ii)the Purchase Price shall be as provided in Section 2(a). OFFICIAL.RECURD 976478_3 , CITY SECRETARY FT WORTH,T]L S. This First Amendment may be executed by facsimile or otherwise in multiple counterparts,each of which will, for all purposes,be deemed an original,but which together will constitute one and the same instrument. 6. In the event of conflict between the Contract and this First Amendment, this First Amendment controls. Except as otherwise specifically amended hereby, the Contract remains in full force and effect as agreed to by the parties. [Signature Pages Follow Immediately] 9764783 2 OFFICIAL RECORD CITY SECRETARY FT.WORTH,TX First Amendment Signature Page of Purchaser IN WITNESS WHEREOF, the undersigned has executed this First Amendment to be effective as of the Amendment Date. PURCHASER: HARMONY REALTY,LTD., a Texas limited partnership By: Harmony Realty Management Co.,LLC, a Texas limited liability company, its general partner By:`�) ILo William P.Churchill,President OFFICIAL RECORD 976478_3 3 4iTY.SE T�R, FT�►ORTi!,T)C First Amendment Signature Page of Seller IN WITNESS WHEREOF, the undersigned has executed this First Amendment to be effective as of the Amendment Date. SELLER: CITY OFF RT W H By: a U To g 'n A t istant City Manager Attest Contract Author!"ti011 Marty Hendrix City Secretary Date Approved as to Legality and Form Assistant City Att&ney OFFICIAL RECORD CITY SECRETARY FT.WORTH,Tx Ist Amendmen rev.DOC 4