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Home My WebLink AboutContract 36955-CA2{, f�G�B�UL'.�L L31��'�G��7 �0 �� i� �� iiC�Gt"7 �Il�nii9nI�IIC�I� ��S ASSIGNMENT OF TAX ABATEMENT AGREEMENT m �� -! - -- This Assignment of Tax Abatement Agreement is made and entered into by and between CTMGT Watewiew Estates FL-1, LLC, ("CTMGT"), ("Assignor") and Impression Homes, L.L.C., ("Assignee") and the City of Fort Worth, ("City") RECITALS A. Waterview Estates, L.P., Pars Investment, Inc., General Partner ("Waterview") and the ::City of Fort Worth, Texas (the "City") entered into that certain Tax Abatement _ Agreement ("Agreement") _for Property Located at 5532 Grenada Drive; Lot 36; Block . �.3; Waterfront at Enchanted Bay; an Addition to the City of Fort Worth, Tarrant :< County, Texas, according to the plat recorded and filed in Cabinet A; Slide No. 11723, Plat Records, Tarrant County, Texas ("Property") which is located in the Lake .Arlington Neighborhood Empowerment Zone, such Agreement approved by the City Council of Fort Worth November 6, 2007, City Secretary Contract Number 36955 "Agreement"): B. Section 5 of the Agreement permits Waterview to assign all of its rights under the Agreement to CTMGT, without obtaining the prior consent of the City Council: C. VJaterview assigned the Agreement to CTMGT, Assignor, such Agreement is dated September 27, 2013, City Secretary Contract Number 36955-CA1. � fl �N�� D. Pursuant to that certain Special Warranty Deed dated as of ,L� , 2014, recorded under Tarrant County Deed Records, Assignor conveyed the Property to Impression Homes, L.L.C. and Assignee acquired title to the real property, which is . the subject of the Agreement. E. Section 5 of the Agreement permits Assignor to assign all of its rights under the . Agreement to Assignee, without obtaining the prior consent of the City Council: AGREEMENT NOVd THEREFORE; in consideration of the mutual terms and conditions herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby �;cknowledged, the parties hereby agree as follows: 1.. Assignment. Assignor hereby ASSIGNS, TRANSFERS AND CONVEYS all rights, duties, obligations, title and interest under the Agreement to Assignee. � 2. Acceptance. Assignee hereby accepts the Assignment granted herein, and assumes all of Assignor's rights, duties and obligations arising under the Agreement. � 1.1 � �.��i �' 3. Effective Date. The .effective date of this Assignment is 2014 � ("Effective Date"). All rights, duties and obligations under the Agreement arising, �' � accruing or relating to the period before the Effective Date are allocated to Assignor and z� �� Assignment of Tax Abatement Contract #36955-CA1 from � , , CTMGT Waterview Estates FL-1, LLC to Impression Homes, LLC 1 all��rights, duties and obligations arising, accruing or relating to the period thereafter `` shall:be allocated to Assignee. ',..�: 4. Release and Surrender of Assi ig ior. Except as otherwise expressly set forth in this ..Assignment, Assignor will be discharged from any and all further obligations under the Agreement' as of the Effective Date. Assignor must surrender the Property to the ,Assignee on or before 11:59 p. m. on the date prior to the Effective Date in its present condition. Assignor relinquishes any right to any improvements, fixtures or equipment on the Property. 5. Ret�resentations. Assignor represents, warrants and covenants with Assignee that as of the Effective Date, that Assignor is not in default under any of its obligations contained in the Agreement. 6. City of Fort Worth's Consent. City of Fort Worth hereby consents to this Assignment upon the terms and conditions set forth herein. Unless and until City of Fort Worth has executed this Assignment, this Assignment is of no effect. The consent granted herein should not be construed as consent to any further assignment except as provided in the Agreement. The failure or delay of City of Fort Worth in seeking to enforce any provisions of the Agreement or this Assignment should not be deemed a waiver of rights or. remedies that City of Fort Worth may have, or a waiver of any subsequent breach of the: terms and provisions therein or herein contained. 7.. Notices: Any notice given by any party to another party hereto must be given in the ,manner. required under the Agreement. The addresses set forth below supercede any .addresses for notices set forth in the Agreement. CITY OF FORT WORTH: -� City of Fort Worth `Housing and Economic Development Department (NEZ) 1000 Throckmorton Fort Worth, Texas 76102 ;:.: ASSIGNOR: CTMGT Waterview Estates, FL-1, LLC 3901 Airport Freeway, Suite 200 Bedford, TX 76021 ASSIGNEE: Impression Homes, L.L.C. P.O. Box 92726 Southlake, Texas 76092 S.: Successors. Except as herein otherwise provided, this Assignment will be binding upon aril inure. to the benefit of the parties, and their respective heirs, executors, administrators, successors and assigns. 9. Couiiteiparts. This Assignment may be executed in multiple counterparts, each of which, -once executed, will be an original and fully -binding on the parties so executing; and all such counterparts together constitute one and the same agreement. Assignment of Tax_ Abatement Contract #36955-CA1 from CTMGT Waterview Estates FL-1, LLC to Impression Homes, LLC 2 10: Binding Offer. This Assignment will be not be binding until executed and delivered by all three parties. �1N WITNESS WHEREOF, the parties have executed this Assignment as of the date first aiiove written. CITY OF�`FORT WO�R�TH �OG/4�-�---- Fernari�lri 'Costa Assistant City Manager STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Fernando Costa, `Assistant City Manager of the CITY OF FORT WORTH, a municipal corporation, known to me to be the person and officer whose name is subscribed to the foregoing instrument, and acknowledged to me that the same was the act of the said CITY OF FORT WORTH, TEXAS, a municipal corporation, that he was duly authorized to perform the same by appropriate Mayor and Council Communication of the City Council of the City of Fort Worth'.' and that - he executed the same as the act of the said City for the purposes and consideration therein expressed and in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this �3 day of 1��,�n�► , 2014.. � � v�ru in and for the. State of Texas Mary :Kayser, _City Secretary APPROVED AS TO FORM AND LEGALITY: Sr. Assistant City Attorney M & C: C-22514 LINDA M. HIRRLINQCR MY COMMISSION EXPIRES February 2, 201a �jp ., �" ^fJ� OFFICIAI- RE AR CITY SECR �"Q'. y�ORTH,'� Assignment of Tax Abatement Contract #36955-CA1 from CTMGT Waterview Estates FL-1; LLC to Impression Homes, LLC 3 ASSIGNOR: CTMGT Waterview Estates FL-1, LLC Name: Mehrdad Moayedi Title: = :IYlanagin�Member STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this d personally appeared Mehrdad Moayedi, Managing Member of CTM�Waterview tes FL-1, L.L.C. known to me to be the person whose name is subscribe to the fo going instrument, and acknowledged to me that he executed the same for the I therein stated and as the act and Notary•Public in a the State of Texas ASSIGNEE: HAND 201� Homes, L.L.C. Title:. �.Managin� Member STATE OF TEXAS § COUNTY OF TARRANT § consideration therein expressed, in the capacity [GT Waterview Estates FL-1, L.L.C. j SEAL OF OFFICE this �i day of BEFORE: ME, the undersigned authority, on this day personally appeared Bruce Heikkinen, Managing Member of Impression Homes, L.L.C, known to me to be the person whose name is sulisctibed .to the foregoing. instrument, and acknowledged to me that he executed the same for the.purposes and consideration therein expressed, in the capacity therein stated. . L . � VEN ER MY HAND AND SEAL OF OFFICE this _ day of .. ... � � , 2014. Notary`.Public in a the State of Texas ��,Ri KEI EXPt��s MY Co Ju'8195 01� Assignment of Tax Abatement Contract #36955-CAl from CTMGT Waterview Estates FL-1, LLC to Impression Homes, LLC 4 ASSIGNOR: CTMGT Wat iew Est tes FL-1, LLC Name: Mehrdad Moaye i Title: Managing Member STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Mehrdad Moayedi, Managing Member of CTMGT Waterview Estates FL -I, L.L.C. known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed, in the capacity therein stated and as the act and deed of CTMGT Waterview Estates FL-1, L.L.C. GIVEN UNDER MY HAND AND SEAL OF OFFICE this �day of / A COLM%U . 2014. Notary �ubiicitra the State of Texas ASSIGNEE: Impression Homes, L.L.C. Name; Bruce Heikkinen Tit1e:.:Managing Member STATE OF TEXAS § COUNTY OF TARRANT § LAURA L WAYLAID My Commission Expires July 14, 2016 BEFORE: ME, the undersigned authority, on this day personally appeared Bruce Heikkinen, Managing Member of Impression Homes, L.L.C. known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the.purposes and consideration therein expressed, in the capacity therein stated. • GIVEN UNDER MY HAND AND SEAL OF OFFICE this _ day of 2014. Notary Public in and for the State of Texas Assignment of Tax Abatement Contract #36955-CA1 from CTMGT Waterview Estates FL-1, LLC to Impression Homes, LLC 4