The URL can be used to link to this page

Home My WebLink AboutContract 36973-CA2RECEIVED MAY 2 4 7016 (,IiYOFFORTWORT!' CITY SECRFTAP 4 ` g. 17 MO ASSIGNMENT OF TAX ABATEMENT AGREEMENT This Assignment of Tax Abatement Agreement is made and entered into by and between CTMGT Waterview 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 5365 Saba Drive; Lot 13; Block 6; 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 36973 ("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. Waterview assigned the Agreement to CTMGT, Assignor, such Agreement is dated September 27, 2013, City Secretary Contract Number 36973-CA1. D. Pursuant to that certain Special Warranty Deed dated as of May ](� 2016, 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 NOW 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 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 May 1e 2016, ("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&-ari OFFICIAL RECORD Assignment of Tax Abatement Contract #36973-CA1 from L(GrY SECRETAR CTMGT Waterview Estates FL-1, LLC to Impression Homes, 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 or before 11:59 p. in. 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. 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 I n the Agreement. 6. Cit�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 Neighborhood Services Department (NEZ) 1000 Throclanorton Fort Worth, Texas 76102 ASSIGNOR: ASSIGNEE: CTMGT Waterview Estates, FL-1, LLC Impression Homes, L.L.C. 3901 Airport Freeway, Suite 200 P.O. Box 92726 Bedford; TX 76021 Southlake, Texas 76092 S. Successors. Except as herein otherwise provided, this Assignment will be binding upon and inure to the benefit of the parties, and their respective heirs, executors, 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 #36973-CAl from CTMGT Waterview Estates FL=1, LLC to Impression Homes, LLC 2 1us Binding Offer. all three parties. This Assignment will be not be binding until executed and delivered by IN WITNESS WHEREOF, the_ parties have executed this Assignment as of the date first above written. CITY OF FORT WORTH 57rL Fernando 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 ,24 ay of 2016. Notary Pub re in for .��., TRIKINYA L JOHNSON the State of Texas : _:, ,Notary Public, State of Texas ni . ' "S Comm. Expires 04-17 2018 0;* Notary ID 1238832-0 Mary Kayser, City Secretary APPROVED AS TO FORM AND LEGALITY: Melinda Ramos Sr, Assistant City Attorney M & C: C-22514 Assigrunent of Tax Abatement Contract #36973-CAl CTMGT Waterview Estates PL-1, LLC to Impression Ho 3 OFFICIAL RECORD r CITif SECRETARY Lam'. WORTH, TX ASSIGNOR: CTMGT Waterview Est es FL-1, LLC Name: Mehrdad Moayedi Title: Managing Member STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Mehrdad Moayedi, Managing Member of CINALGT Waterview Estates FL-1, 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 AMA 5 2016. AMA n*��o DEBBIE LACEY Notary Public in and for Notary ID # 123942280 the State of Texas My Commission Expires August 16, 2017 ASSIGNEE: Impression Homes, L.L.C. Name: Bruce Heikkinen Title: Managing Member STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, rr✓this day personally appeared Bruce Heikkinen, Managing Member of Impression Ho , L.L.C. known to ine to be the person whose name is subscribed to the foregoing inst ent, and acknowledged to me that he executed the same for the purposes and consider ' n therein expressed, in the capacity therein stated. GIVEN Notary blic in and for the ate of Texas MY HAND AND SEAL OF OFFICE this _ day of . 2016. Assignment of Tax Abatement Contract #36973-CAI from CTMGT Waterview Estates FL-1, LLC to Impression Homes, LLC 4 ASSIGNOR: CTMGT Waterview Estates FL-1, LLC Name: Mehrdad Moayedi Title: Managing Member STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigi authority, on this day personally appeared Mehrdad Moayedi, Managing Member of C GT Waterview Estates FL4, L,L.C. known to me to be the person whose name i ubscribed to the foregoing instrument, and acknowledged to me that he executed the sa e for the purposes and consideration therein expressed, in the capacity therein stated an as the act and deed of CTMGT Waterview Estates FL-1, L.L.C. UNDER MY HAND AND SEAL OF OFFICE this day of 2016. Notary Public in and for the State of Texas ASSIGNEE: Impres ion H �� s, L.L.C. Name: B eikkinen Title: Managing Member STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Bruce Heikkinen, Managing Member of Impression Homes, L.L.C. known to ine 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. UNDER MY HAND AND SEAL OF OFFICE this' 0 day of Notary Public i� and foi the State of Texas KEFiI KEIS 1D # 1231382g P_dune ig 401 y Assigrunent of Tax Abatement Contract #36973-CA1 from CTMGT Waterview Estates FL-1, LLC to Impression Homes, LLC 4