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HomeMy WebLinkAboutContract 36985 iECR�p-ETARY vli;e�d_� A4 i �®. PURCHASE CONTRACT THIS PURCHASE CONTRACT ("Contract") is made and entered into by and between the CITY OF FORT WORTH, TEXAS, acting by and through its duly authorized City Manager or Assistant City Manager ("Purchaser") and Lupe M. Govea and Ruby C. Govea("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 Lots 17A, 17B, 18A and 18B, Block 5 of the Diamond Hill Addition to the City of Fort Worth, according to the plat recorded in Vol. 388 Page 21, Plat Records, Tarrant County, Texas and with a street addresses of 1406 and 1408 NE 281h Street, Fort Worth, Texas 76106 together with any easements, rights-of-way, licenses, interests, and rights appurtenant thereto (collectively, the "Property"), except that the seller Lupe M. Govea and Ruby C. Govea will retain their minerals rights. 2. Purchaser is a municipal corporation that desires to acquire the purchase of the Property for public use for drainage improvements to Lebow Channel. 3. Seller desires to sell the Property for fair market value for drainage improvements to Lebow Channel (Project Improvements) and will benefit the citizens 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 (as defined below in Section 3) and the survey that are not cured and that are subsequently waived pursuant to Section 3 below ("Permitted Encumbrances"). Section 2. Purchase Price (a) The purchase price ("Purchase Price") for the Property, payable by Purchaser to Seller in cash at Closing ($238,200), Two Hundred Thirty Eight Thousand, Two Hundred Doll Section 3. Title Commitment and Survey. (a) Purchaser has obtained, at Purchaser's sole cost and expense (i) an Owner's Commitment for Title Insurance ("Title Commitment") from North American Title Company, Attn: Jim Thomas, 2813 S. Hulen Street, Suite 100 Fort Worth, Texas 76109, Telephone Number 817-927-7300 and Fax Number 817-972-7164 ("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 any survey of the Property in Seller's possession. After the "Effective Date" and prior to Closing, at Purchaser's sole cost and expense, an updated survey ("Survey") consisting 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, or other Encumbrances by reference to applicable recording data, and (iv) include the Surveyor's registered number and seal, 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 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 of the "Effective Date", and/or after receipt of the 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. (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 from Purchaser ("Cure Period"), Purchaser shall have the right either (1) 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, 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 Buyer deems necessary for Seller to cure the same. Section 4. Review Reports. Within twenty (20) days after the Effective Date, Seller shall deliver to Purchaser for Purchaser's review any environmental reports and studies in Seller's possession concerning the Property ("Reports"). - 2 - Section 5. Inspection of the Property (a) Purchaser may enter the Property before closing to inspect the Property and conduct a Phase I Environmental. (b) Purchaser must notify Seller in advance of Purchaser's plans to inspect the Property and conduct and tests so that Seller may be present during such inspections or tests. 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 Buyer's obligations under this Contract: Purchaser being satisfied in Purchaser's sole and absolute discretion that the Property is suitable for Buyer's intended uses, including, without limitation, Purchaser being satisfied with the results of the Tests (defined in Section 7 below). (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, and neither party shall have any further rights or obligations under this Contract. (c) The provisions of this Section 6 control all other provisions of this Contract. Section 7. 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 analyses, and other tests, studies and surveys, including without limitation, environmental tests, borings, analyses, and studies ("Tests). Any engineering and feasibility tests shall be conducted at Buyer's sole risk and expense, and Buyer agrees to indemnify and defend Seller and the Property from any liens and claims resulting from such tests. Purchaser shall be solely responsible for all costs of any environmental site assessments Purchaser deems necessary. The Property will be restored by Purchaser to its original condition at Purchaser' 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 test studies or tests results obtained during this inspection period. Section 8. Closing. (a) At the Closing, all of the following shall occur, all of which are deemed concurrent conditions: (1) Seller, at Seller's sole cost and expense, shall deliver or cause to be delivered to Purchaser the following: (i) a General Warranty Deed ("Deed"), fully executed and acknowledged by Seller, conveying to Purchaser good and indefeasible fee - 3 - simple title to the Property subject only to the Permitted Encumbrances, with the precise form of the Deed to be determined pursuant to Section 10 below; (ii) Any other instrument or document necessary for Title Company to issue the Owner Policy in accordance with Section 8(a) (3)below. (2) Purchaser, at Purchaser's sole cost and expense, shall deliver or cause to be delivered to Seller through the Title Company federally wired funds or a certified or cashier's check or such other means of funding acceptable to Seller, in an amount equal to the Purchase Price, adjusted for closing costs and prorations. (3) Title Company shall issue to Purchaser, at Purchaser's sole cost and expense, an Owner Policy of Title Insurance ("Owner Policy") issued by Title Company in the amount of the Purchase Price insuring that, after the completion of the Closing, Buyer is the owner of indefeasible fee simple title to the Property, subject only to the Permitted Encumbrances, and the standard printed exceptions included in a Texas Standard Form Owner Policy of Title Insurance; provided, however,the printed form survey exception shall be limited to "shortages in area," the printed form exception for restrictive covenants shall be deleted except for those restrictive covenants that are Permitted Encumbrances, there shall be no exception for rights of parties in possession, and the standard exception for taxes shall read: "Standby Fees and Taxes for [the year of Closing] and subsequent years, and subsequent assessments for prior years due to change in land usage or ownership"; (4) Seller and Purchaser shall each pay their respective attorneys' fees. (5) Purchaser shall pay all recording fees. (6) The City will conduct an environmental review of the Property and if an environmental hazard is found the City has the right to cancel this contract. (7) Purchaser of the property agrees to pay up to $3,000.00 maximum closing fees and costs as allowed by the City Council. Seller(s) agrees to pay closing fees and costs exceeding $3,000.00 if applicable. (b) Ad valorem and similar taxes and assessments, if any, relating to the Property shall be prorated between Seller and Purchaser as of the Closing Date, based on estimates of the amount of taxes that will be due and payable on the Property during the calendar year in which the Closing occurs. As soon as the amount of taxes and assessments on the Property for that year is known, Seller and Purchaser shall readjust the amount of taxes to be paid by each party with the result that Seller shall pay for any taxes and assessments applicable to the Property up to and including the date of Closing, and Purchaser shall pay for those taxes and assessments applicable to the Property after the Closing. The provisions of this Section 8(b) survive the Closing. (c) Upon completion of the Closing, Seller shall deliver possession of the Property to Purchaser, free and clear of all tenancies of every kind. -4 - Section 9. Agents. Seller and Buyer each represent and warrant to the other that it has not engaged the services of any agent, broker, or other similar party in connection with this transaction. Section 10. Closing Documents. No later than fifteen (15) days prior to the Closing Date, 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) The address of Purchaser under this Contract is: City of Fort Worth Real Property Services 900 Monroe Street Suite 302 Fort Worth, Texas 76102 Attention: Theresa Khammash Telephone: 817-392-6349 (c) The address of Seller under this Contract is: Lupe M. Govea and Ruby C. Govea 3217 NW 31" Street Fort Worth, TX 76106 (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. 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. - 5 - (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 Buyer'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 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 Buyer by 5:00 p.m., Fort Worth, Texas time on April 8, 2008, this Contract shall be null and void. Section 16. Time of the Essence. Time is of the essence under this Contract. Section 17. Taking Prior to Closing. 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 18. Governing Law. This Contract shall be governed by and construed in accordance with the laws of the State of Texas. Section 19. 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. Section 20. Venue. Venue of any action brought under this Contract shall be in Tarrant County, Texas if venue is legally proper in that county. Section 21. 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 22. Business Days. If the Closing date or the day for performance of any act required under this Contract falls on a Saturday, Sunday, or legal holiday, then the Closing date or the day for such performance, as the case may be, shall be the next following regular business day. - 6 - Section 23. Counterparts. This Contract may be executed in multiple counterparts, each of which will be deemed an original,but which together will constitute one instrument. - 7 - This Contract is executed as of the Effective Date. BUYER: CITY OF FORT WORTH By: csj� Fernando Costa Assistant City Manager Date: t Sworn befor o he day of , 2008 HETTIE LANE *: '= MY COMMISSION EXPIRES Notary Public - �,p;,�+�` Juy2s,zo» My commission expires on At Ma Hendrix ' `C ES OS City Secretary contract Authorizatiox Approved as to Legality and Form 41 1�-S 1. If Aw-1 Assistant City Attdiney SELLER(S): By: ---- � t "-- Name- i 1pe M. Govea uby C. Govea Date: SW before me o th y of a v , 2008 - """ " RAYMOND EDMUNDSON ?.• %,�. : . Notary Public,State of Texas My Commission E it May 09,2010 es Notary Public My commission expires on 6 0/0 By: Name: Date: Sworn before me on the day of , 2008 Notary Public -j �-f� VA"P9r 'Lill � i�e My commission expires on 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: - 9 - EXHIBIT "A" Description of Property Lot 17A, 17B, 18A, and 18B, Block 5 of the Diamond Hill Addition to the City of Fort Worth, according to the plat recorded in Vol. 388, Pae 21, Plat Records, Tarrant County, Texas and with a street address of 1406 and 1408 28` Street, Fort Worth,Texas, 76106. City of Fort Worth, Texas Mayor and Council Communication COUNCIL ACTION: Approved on 4/15/2008 DATE: Tuesday, April 15, 2008 LOG NAME: 20GOVEA REFERENCE NO.: L-14505 SUBJECT: Authorize the Acquisition of 1408 Northeast 28th Street and 1406 Northeast 28th Street for the Purpose of the Lebow Channel Drainage Project, DOE No. 4623, Project No. 0084, Find the Purchase Price is Just Compensation and Authorize the Execution and Recording of Appropriate Instruments RECOMMENDATION: It is recommended that the City Council: 1. Authorize the acquisition of 1408 Northeast 28th Street and 1406 Northeast 28th Street, Fort Worth, Texas, for the purpose of the Lebow Channel Drainage Project; 2. Find that the price offered in the amount of $238,200, plus an estimated closing cost of $25,000 is just compensation; and 3. Authorize the City Manager to execute and record the appropriate documents. DISCUSSION: On October 16, 2007, Council approved the issuance and sale of bonds which will be used to fund capital improvements to the Storm Water Utility system scheduled over the next two years. The Lebow Channel Drainage Improvement Project was implemented to alleviate flooding in multiple neighborhoods on the north side of Fort Worth. The properties located at 1406 and 1408 Northeast 28th Street (Block 5, lots 17A and 18A and Block 5, lots 17B and 18B) lie within the Lebow Channel Floodway. The Department of Transportation and Public Works identified these properties as needed for the Lebow Channel Drainage Improvement Project. An outside independent appraiser established a fair market value on the properties. The real estate taxes on these properties will be pro-rated to the date of dosing with the seller being responsible for any taxes due until the dosing date. The City will pay dosing costs and recording fees. The property is further described as follows: Grantor Tyae Legal Description Amount Lupe M. and Ruby C. Govea Commercial 1406 Northeast 28th Street, Block 5 $238,200.00 Lots 17A and 17B, Diamond Hill Addition Residential 1408 Northeast 28th Street, Block 5 Lots 18 and 18A, Diamond Hill Addition Estimated Closing Cost $25,000.00 Total Cost $263,200.00 The Property is located in COUNCIL DISTRICT 2, Mapsco 63E. G1crre1 1M=n0UAT1nKunF0T1=1(%AT1nh1- The Finance Director certifies that funds are available in the current Capital Budget, as appropriated, in the Storm Water Capital Projects 2007 Revenue Bonds Fund. TO Fund/Account/Centers FROM Fund/Account/Centers P229 541100 202280008441 $263,200.00 Submitted for City Managers Office by: Fernando Costa (8476) Originating Department Head: Robert Goode (7801) Additional Information Contact: Sapna Narsian (2782) CITY SECRETARY 0 CONTRACT NO, PURCHASE CONTRACT THIS PURCHASE CONTRACT ("Contract") is made and entered into by and between the CITY OF FORT WORTH, TEXAS, acting by and through its duly authorized City Manager or Assistant City Manager("Purchaser") and Lupe M. Govea and Ruby C. Govea ("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 Lots 17A, 17B, 18A and 18B, Block 5 of the Diamond Hill Addition to the City of Fort Worth, according to the plat recorded in Vol. 388 Page 21, Plat Records, Tarrant County, Texas and with a street addresses of 1406 and 1408 NE 28'b Street, Fort Worth, Texas 76106 together with any easements, rights-of-way, licenses, interests, and rights appurtenant thereto (collectively, the "Property"), except that the seller Lupe M. Govea and Ruby C. Govea will retain their minerals rights. 2. Purchaser is a municipal corporation that desires to acquire the purchase of the Property for public use for drainage improvements to Lebow Channel. 3. Seller desires to sell the Property for fair market value for drainage improvements to Lebow Channel (Project Improvements) and will benefit the citizens 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 (as defined below in Section 3) and the survey that are not cured and that are subsequently waived pursuant to Section 3 below('Permitted Encumbrances"). Section 2. Purchase Price (a) The purchase price ('Purchase Price") for the Property, payable by Purchaser to Seller in cash at Closing ($238,200), Two Hundred Thirty Eight Thousand, Two Hundred Dollars and No Cents. . � r -J8 A"l IN A 10913-EF Section 3. Title Commitment and Survey. (a) Purchaser has obtained, at Purchaser's sole cost and expense (i) an Owner's Commitment for Title Insurance ("Title Commitment") from North American Title Company, Attn: Jim Thomas, 2813 S. Hulen Street, Suite 100 Fort Worth, Texas 76109, Telephone Number 817-927-7300 and Fax Number 817-972-7164 ("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 any survey of the Property in Seller's possession. After the "Effective Date" and prior to Closing, at Purchaser's sole cost and expense, an updated survey ("Survey") consisting 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, or other Encumbrances by reference to applicable recording data, and (iv) include the Surveyor's registered number and seal, 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 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 of the "Effective Date", and/or after receipt of the 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. (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 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, 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 Buyer deems necessary for Seller to cure the same. Section 4. Review Reports. Within twenty (20) days after the Effective Date, Seller shall deliver to Purchaser for Purchaser's review any environmental reports and studies in Seller's possession concerning the Property("Reports"). - 2 - Section 5. Inspection of the Property (a) Purchaser may enter the Property before closing to inspect the Property and conduct a Phase I Environmental. (b) Purchaser must notify Seller in advance of Purchaser's plans to inspect the Property and conduct and tests so that Seller may be present during such inspections or tests. 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 Buyer's obligations under this Contract: Purchaser being satisfied in Purchaser's sole and absolute discretion that the Property is suitable for Buyer's intended uses, including, without limitation, Purchaser being satisfied with the results of the Tests (defined in Section 7 below). (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, and neither party shall have any further rights or obligations under this Contract. (c) The provisions of this Section 6 control all other provisions of this Contract. Section 7. 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 analyses, and other tests, studies and surveys, including without limitation, environmental tests, borings, analyses, and studies ("Tests). Any engineering and feasibility tests shall be conducted at Buyer's sole risk and expense, and Buyer agrees to indemnify and defend Seller and the Property from any liens and claims resulting from such tests. Purchaser shall be solely responsible for all costs of any environmental site assessments Purchaser deems necessary. The Property will be restored by Purchaser to its original condition at Purchaser' 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 test studies or tests results obtained during this inspection period. Section 8. Closing, (a) At the Closing, all of the following shall occur, all of which are deemed concurrent conditions: (1) Seller, at Seller's sole cost and expense, shall deliver or cause to be delivered to Purchaser the following: (i) a General Warranty Deed ("Deed"), fully executed and acknowledged by Seller, conveying to Purchaser good and indefeasible fee - 3 - ' Aft. .,. simple title to the Property subject only to the Permitted Encumbrances, with the precise form of the Deed to be determined pursuant to Section 10 below; (ii) Any other instrument or document necessary for Title Company to issue the Owner Policy in accordance with Section 8(a) (3)below. (2) Purchaser, at Purchaser's sole cost and expense, shall deliver or cause to be delivered to Seller through the Title Company federally wired funds or a certified or cashier's check or such other means of funding acceptable to Seller, in an amount equal to the Purchase Price, adjusted for closing costs and prorations. (3) Title Company shall issue to Purchaser, at Purchaser's sole cost and expense, an Owner Policy of Title Insurance ("Owner Policy") issued by Title Company in the amount of the Purchase Price insuring that, after the completion of the Closing, Buyer is the owner of indefeasible fee simple title to the Property, subject only to the Permitted Encumbrances, and the standard printed exceptions included in a Texas Standard Form Owner Policy of Title Insurance; provided, however, the printed form survey exception shall be limited to "shortages in area," the printed form exception for restrictive covenants shall be deleted except for those restrictive covenants that are Permitted Encumbrances, there shall be no exception for rights of parties in possession, and the standard exception for taxes shall read: "Standby Fees and Taxes for [the year of Closing] and subsequent years, and subsequent assessments for prior years due to change in land usage or ownership"; (4) Seller and Purchaser shall each pay their respective attorneys' fees. (5) Purchaser shall pay all recording fees. (6) The City will conduct an environmental review of the Property and if an environmental hazard is found the City has the right to cancel this contract. (7) Purchaser of the property agrees to pay up to $3,000.00 maximum closing fees and costs as allowed by the City Council. Seller(s) agrees to pay closing fees and costs exceeding$3,000.00 if applicable. (b) Ad valorem and similar taxes and assessments, if any, relating to the Property shall be prorated between Seller and Purchaser as of the Closing Date, based on estimates of the amount of taxes that will be due and payable on the Property during the calendar year in which the Closing occurs. As soon as the amount of taxes and assessments on the Property for that year is known, Seller and Purchaser shall readjust the amount of taxes to be paid by each party with the result that Seller shall pay for any taxes and assessments applicable to the Property up to and including the date of Closing, and Purchaser shall pay for those taxes and assessments applicable to the Property after the Closing. The provisions of this Section 8(b) survive the Closing. (c) Upon completion of the Closing, Seller shall deliver possession of the Property to Purchaser, free and clear of all tenancies of every kind. -4 - Section 9. Agents. Seller and Buyer each represent and warrant to the other that it has not engaged the services of any agent, broker, or other similar party in connection with this transaction. Section 10. Closing Documents. No later than fifteen (15) days prior to the Closing Date, 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) The address of Purchaser under this Contract is: City of Fort Worth Real Property Services 900 Monroe Street Suite 302 Fort Worth, Texas 76102 Attention: Theresa Khammash Telephone: 817-392-6349 (c) The address of Seller under this Contract is: Lupe M. Govea and Ruby C. Govea 3217 NW 3 1" Street Fort Worth, TX 76106 (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. 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. - 5 - (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 Buyer'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 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 Buyer by 5:00 p.m., Fort Worth, Texas time on April 8, 2008, this Contract shall be null and void. Section 16. Time of the Essence. Time is of the essence under this Contract. Section 17. Taking Prior to Closing. 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 18. Governing Law. This Contract shall be governed by and construed in accordance with the laws of the State of Texas. Section 19. 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. Section 20. Venue. Venue of any action brought under this Contract shall be in Tarrant County,Texas if venue is legally proper in that county. Section 21. 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 22. Business Days. If the Closing date or the day for performance of any act required under this Contract falls on a Saturday, Sunday, or legal holiday, then the Closing date or the day for such performance, as the case may be, shall be the next following regular business day. - 6 - Section 23. Counterparts. This Contract may be executed in multiple counterparts, each of which will be deemed an original,but which together will constitute one instrument. - 7 - This Contract is executed as of the Effective Date. BUYER: CITY OF FORT WORTH By: 00OL— Fernando Costa Assistant City Manager Date: IG/cs •'•"•"• Sworn before me o ay of 52008 HE1TIEl.ANE MY COMMISSION EXPIRES July 28,2011 Notary Publ c My commission expires on � l)�/ Attest 'AuLd t Mar Hendrix Contr ct Authorizatiola City Secretary ng Date Approved as to Legality and Form ssistant City AttoriWey SELLER(S): By: �, Name:Yupe M. Govea Yuby C. Govea Date: 3-3/- 09 o n Sworn before me on t e da f , 2008 RAYMOND EDMUNDSON,= Notary Public,State of Texas My Commission Expires May 09, 2010 Notary Pu lic My commission expires on 44 o Ojl� By: Name: Date: Sworn before me on the day of 52008 Notary Public - 8 - My commission expires on 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: - 9 - EXHIBIT "A" Description of Property Lot 17A, 17B, 18A, and 18B,Block 5 of the Diamond Hill Addition to the City of Fort Worth, according to the plat recorded in Vol. 388, Page 21, Plat Records,Tarrant County, Texas and with a street address of 1406 and 1408 281h Street, Fort Worth,Texas, 76106. Electronically Recorded Tarrant County Texas Official Public Records 2008 May 29 10:44 AM D208199936. ,Q Fee: $24.00 ` ` .�...4.� Submitter. ACS INC 3 Pages NAT(1FW14766-08-001154OT Suzanne Henderson NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON,YOU MAY REMOVE OR STR= ANY OR ALL OF THE FOLLOWING INFORMATION FROM ANY INSTRUMENT THAT TRANSFERS AN INTEREST IN REAL PROPERTY BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY 1`7UM$ER OR YOUR DRIVER'S LICENSE NUMBER. General Warranty Deed Date: Mayes,2008 Grantor: Lupe M. Govea and Ruby C.Govea,husband and wife Grantee: City of Fort Worth Grantee's Mailing Address: City of Fort Worth Real Property Services 1000 Throck morton St. Fort Worth,Tarrant County,Texas 76102 Consideration: Cash and other good and valuable consideration,tire receipt and sufficiency of which are hereby acknowledged. Property(including any Irnprovements): SEE ATTACHED EXE BIT "A" Reservations from and Exceptions to Conveyance and Warranty: This conveyance is executed, delivered and accepted subject to ad valorem taxes for the current year,.rollback tames due to this conveyance or Grantee's use of the subject property, maintenance fund liens,zoning ordinances,utility district assessments and standby fees,if any,any and all valid utility easements created by the dedication deed or plat of the subdivision in which said real property is located,recorded easements,mineral reservations and leases,restrictions,covenants condition,rights of way easements,if any, affecting the herein described Property but oDly to the extent the same are valid and subsisting. This conveyance is made subject to and there is excepted hervfioro, all oil,gas and other minerals and royalties heretofore reserved or conveyed to others and Grantor excepts and reserves unto Grantor, Chntor's heirs, successors and assigns forever, all remaining oil, gas, and other minerals in and under and that maybe produced from the Property. If the mineral estate is subject to existing production or an existing lease,this reservation includes the production,the lease,and all benefits from it. NAT GF#14766-08-00115-JOT NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON,YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING INFORMATION FROM ANY INSTRUMENT THAT TRANSFERS AN INTEREST IN REAL PROPERTY BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER. General Warranty Deed Date: May9,2008 Grantor: Lupe M. Govea and Ruby C. Govea,husband and wife Grantee: City of Fort Worth Grantee's Mailing Address: City of Fort Worth Real Property Services 1000 Throckmorton St. Fort Worth,Tarrant County,Texas 76102 Consideration: Cash and other good and valuable consideration,the receipt and sufficiency of which are hereby acknowledged. Property (including any improvements): SEE ATTACHED EXHIBIT "A" Reservations from and Exceptions to Conveyance and Warranty: This conveyance is executed, delivered and accepted subject to ad valorem taxes for the current year,.rollback taxes due to this conveyance or Grantee's use of the subject property, maintenance fund liens,zoning ordinances,utility district assessments and standby fees,if any,any and all valid utility easements created by the dedication deed or plat of the subdivision in which said real property is located,recorded easements,mineral reservations and leases,restrictions,covenants condition,rights of way easements, if any, affecting the herein described Property but only to the extent the same are valid and subsisting. i This conveyance is made subject to and there is excepted herefrom, all oil, gas and other minerals and royalties heretofore reserved or conveyed to others and Grantor excepts and reserves unto Grantor, Grantor's heirs, successors and assigns forever, all remaining oil, gas, and other minerals in and under and that maybe produced from the Property. If the mineral estate is subject to existing production or an existing lease,this reservation includes the production,the lease,and all benefits from it. E Grantor, for the Consideration and subject to the Reservations from Conveyance and the Exceptions to Conveyance and Warranty,grants,sells,and conveys to Grantee the Property,together with all and singular the rights and appurtenances thereto in any way belonging,to have and to hold it to Grantee and Grantee's heirs, successors, and assigns forever. Grantor binds Grantor and Grantor's heirs and successors to warrant and forever defend all and singular the Property to Grantee and Grantee's heirs,successors,and assigns against every person whomsoever lawfully claiming or I to claim the same or any part thereof, except as to the Reservations from Conveyance and the Exceptions to Conveyance and Warranty. When the context requires,singular nouns and pronouns include the plural. Lupe A. Govea Ruby CUGovea STATE OF TEXAS ) COUNTY OF TARRANT ) This instrument was acknowledged before me on D�0 2008 b Lu e Th g � � Y p M. Govea and Ruby C. Govea_ RAYMOND EDMUNDSON Notary Public,State of Texas My Commission Expires May 09,2010 NotaryPublic, State of Texas My commission expires: 0 O (� i j PREPARED 1N THE OFFICE OF: Philip H. Trew,P.C. 2813 S. Hulen, Suite 100 Fort Worth,TX 76109 AFTER RECORDING RETURN TO: City of Fort Worth Real Property Services 1000 Throckmorton St. Fort Worth,Tarrant County,Texas 76102 r i i r EXHIBIT "A"- PROPERTY DESCRIPTION A tract of land being a portion of Lots 17 and 18 in Block 5 of Diamond Hill, an Addition in Fort Worth in Tarrant County,Texas according to the Map/Plat thereof recorded in Volume 388, Page 21 of the Map/Plat Records of Tarrant County, Texas, and being an easterly portion of the tract described in the deed'to Lenard Webb and Jane Webb Steward recorded in volume 5436, page 447 of the Tarrant County Deed Records. Beginning at a 3/4" iron in the east fine of said Lot 18 and 15-1A 0 feet south from its north ast corner for the southeast corner of the portion of Lot 18 described in the deed to the State of Texas for additional right of way for N. E.'Twenty-Eighth Street recorded in volume 1205, page 326 of said Deed Records and the northeast corner of said Lenard Webb and Jane Webb Steward tract; Thence south, along the east line of said tot 18 and Lot 17, at 31-9/10 feet pass the common east corner of said Lots 18 and-17, and in all 84-9110 feet to a 314"iron for the southeast corner of said Lot 17; Thence west,along the south line of said Lot 17 a distance of 92-5 711 0 0 feet to a 3/4"iron for comer, Thence north 84-17/100 feet to a 3/4" iron in the south line of said additional right of way for N. E. Twenty-Eighth Street; Thence north 89 degrees 33 minutes east, along said south line of the additional right of way for N. E. Twenty-Eighth Street, 92-57/100 feet to the place of beginning and containing 7625 square feet, more or less, and being the same property described in Warranty Deed from Jane Alice Stewart and husband Clayton F. Stewart to Edith M.Webb and husband Lenard A. Webb, recorded in Volume 6096, Page 628, Deed records, Tarrant County, Texas, and subsequently conveyed to Lupe Govea and Ruby Govea by Warranty Deed executed by Lenard A. Webb and wife, Edith M. Webb, recorded in Volume 17-256, Page i 387, Real Property Records of Tarrant County,Texas. r AND BEING KNOWN AS: 1408 NtE. 28th Street, Fort Worth, *Texas s i I . a,