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HomeMy WebLinkAboutContract 36954-CA2t ` ` � ASSIGNMENT ®F TAX ABATEMENT AGREIJMG1vIT This Assignment of Tax Abatement Agreement is made and entered into by and between CTMGT Waterview Estates FLrI, 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., Genera! Partner ("Waterview") and the City of Fort Worth, Texas (the "City") entered into that curtain Tax �1.batement Agreement ("Agreement") for Property Located at 5428 Grenada Ijxive; Lot 22; 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, l 1723, 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 36954 ("Agreement"): B. Section 5 of the Agreement permits Waterview to assign all of its rights under the Agreement to CTMCrT, without obtaining the prior consent of the City Council; C. Waterview assigned the Agreement to CTMGT, Assignor, such Agreement is dated September 27, 2013, City Secretary Contract Number 36954-CA1. D, Pursuant to that certain Special Warranty Deed dated as of March I7, 2014, recorded under Tarrant County Deed Records, Assignor conveyed the Property to Impression Homes, L.L,C. and Assignee acgL�iKed 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' NOW THEREFOR, in consideration' of the mutual terms and conditions herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, 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. �_ � 3. Effective Date. The effective date of this Assignment is March 17, 2014, ("Effective. � date"). All rights, duties and obligations under the Agreement arisin � relating to the period before the Effective Date are allocated to Assignor i �i�{�s,u3�1�®R® � ��I;�� tij����i��1�51i������ � Assignment of Tax Abatement Contract #36954.CA1 from a CTivIGT Waterview Estates FL-1, LI,C to Impression Homes, LLC �`i;o �iuOG34��� 4� 1 —___ - — --- —_ duties and obligations arising, accruing or relating to the period thereafter shall be allocated to Assignee. 4. Release and Surrender of Assignor, 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 ox before 11:59 p. m. on the date prior tp the Effective Date in its present condition. Assignor relinquishes any right to any improvements, fixtures or equipment on the Property. 5. Representations. 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 Werth hereby consents to this Assignment upon the terms and conditions set forth herein. Unless and until City of Fort Werth 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 Fprt Worth may have, or a waiver of any subsequent breach of the terms and provisions therein or herein contained.. 7. Notices. Any nptice given by any party to another parry 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 Ecgnomic Development Department (NEZ) 1000 Throckmorton Fort Worth, Texas 76102 ASSIGNOR: ASSIGNEE: CTMGT Waterview Estates, FL-1, I,LC Impression Homes, L,L.C. 3901 Airport Freeway, Suite ZOQ P.O. Box 1838 Bedford, TX 76021 Keller, Texas 76244 8t Successors. Except as herein otherwise provided, this Assignment will be binding upon and inure to the benefit of the parties, and their respective heirs, executoxs, administrators, successors and assigns. 9. Counterparts. 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 #36954-CAl from CTMGT Waterview Estates FL-1, LLC to Impression Homes, LLC 2 10. Bindin;; Offer. This Assignment will be not be binding until executed and delivered by all three parties. IN WITNESS WHEREOF, the parties have executed this Assignment as of the date first above written. CITY OF FORT WORTH Fernando Costa _ .. _ Assistant City Manager STATE OF TEXAS § COUNTY OF TARRAI'�TT § 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 nne that the same was the act of the said CITY OF FART WORTH, TEXAS, a municipal corporation, that he was duly authorized to perform the same by appropriate Mayor and Council Communication of tl�@ 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. G N UNDER MY HAND AND SEAL OF OFFICE thsa��day of 2014. `��SpRy ?C•B �� EVONIA DANiEIS ��� ,: =_� ••��: Notary Public, State of Texas N ry Public in and for ,�. ; r,= nny Commission Expires the State of Texas '��;„'aa•�;��' ,luly t o, 20 i � ,�,,,,.. . � � 1Sltttt tl'. ' � APPROVED AS Melinda T�.amos Assistant City Attorney M & C: C-22514 AND a Assignment of `Tax Abatement Contract #369 CTMGT Waterview Estates FL-1, LLC to Impres 3 �' �� ��'. WORTH, TX ASSIGNOR: CTMGT Waterview Estates FL-1, LLC Name: Mehrdad Moayedi Title: Managing Member STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority n this day personally appeared Mehrdad Moayedi, Managing Member of CTMGT W rview Estates FL -I:, L.L.C., known to me to be the person whose name is subscribe o the foregoing instrument, and acknowledged to me that he executed the same fort purposes and consideration therein expressed, in the capacity therein stated and as the t and deed of CTMGT Waterview Estates FL-1, L.L.C. Nary Public in and for the State of Texas ASSIGNEE: MY HAND AND SEAL OF OFFICE this day of . 2014. Homes, L.L.C. Name: Bruce Heikkinen Title: Managing_Member STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Bruce Heikkinen, Managing Member Qf Impression Homes, L.L.C., known to me to be the person whose name is subscribed to the foregoing instrurent, 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 �.or-F Yl , 2014. Notary Public in and for the State of Texas �, R;'r�'l%,' NI1<i<I JACK50N -',';,(��''.; ` Rlotary P�iblic, State of Texas My Commission Expires %'' � ��;Y=. 2016 ��r�.��,.• February 1 b, — — Assignment of Tax Abatement Contract #36954-CAl from CTMGT Waterview Estates FL-1, LLC to Impression Homes, ] 4 4i - F•`r�z ��-"i,T ASSIGNOR: CTMGT Watervi�w Estates FL-1, LLC Name: Mehrdad Moayedi' Title: _ Manag_mg Member STATF OF' TEXAS § COUNTY OF TA.RRANT § BEFORE ME, the undersigned authority, on this day personally appeared Mehrdad Moayedi, Managing Member of CTMGT Wateryiew Estates FL�l, 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 (B� day of MarGl^ , 2014. �,.��.N,,,, y�-s=� - L ` � p� Nota ublic in and for `.,� .; ' �gup.,A I�,�Y � the State of Texas ��� ; ' rv������4'��.�$�� parses ��, . �� � � �'j 4 `r'-lrr � c-f"- i; �\ .r. ASSIGNEE: Impression Homes, L.L.C. Name: Bruce Heikkinen Title: Managing Member STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned Managing Member of Impressi� is subscribed to the foregoing for the purposes and consi ati GIVEN Notary Public in and for the State of Texas tho `. , on this day personally appeared Bruce Heikkine�, omes, L.L.G., known to irie to be the person whose name urnent, and acknowledged to me that he executed the same therein expressed, in the capacity therein stated. MY HAND AND SEAL OF OFFICE this day of . 2014. Assignment of Tax Abatement Contract #36954-CAl from GTMGT Waterview Estates FL-1, LLC to Impression Homes, ] 4 ®FFICIAI- RE �pRl� ��� EECRE �T� W©RTR' TX