HomeMy WebLinkAboutContract 53433 11
RECEIVEO CITY SECRETARY
SAP!2 4 2020 CONTRACT NO.
C S�AWORD
ARy CONTRACT OF SALE AND PURCHASE
(Sale by City of Fort Worth)
THIS CONTRACT OF SALE AND PURCHASE ("Contract") is made and
entered into by and between the CITY OF FORT WORTH, TEXAS, a home rule
Municipal Corporation of the State of Texas, located within Tarrant, Denton, Parker, and
Wise Counties, Texas, acting by and through its duly authorized City Manager or
Assistant City Manager ("Seller") and 2019 FOREST PARK, LLC, ("Purchaser") as of
the date on which this Contract is executed by the last to sign of Seller and Purchaser
("Effective Date").
RECITALS
I Seller is the owner of certain piece of land containing approximately 12,854,56
square feet located adjacent to Lots I, 2 and part of 3, Block S-6, Field's Hillside
Addition, as shown and more particularly described on the attached Exhibit "A",
incorporated herein for all purposes (collectively, the"Property").
2. Purchaser desires to acquire the Property for use of approximately 8,000 square
feet of the Property as beautification, landscaping and existing signage and the
remaining approximately 4,200 square feet will be used for parking.
3 Seller will convey the Property through direct sale in accordance with Section
272.001(b) (6) of the Texas Local Government Code.
AGREEMENT
In consideration of the mutual covenants, representations, warranties and
agreements contained herein, and for other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, Seller-and Purchaser agree as follows:
Section 1. Amenient of 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 (as defined below) that are not cured and that are subsequently waived
pursuant to Section 3 ("Permitted Encumbrances") and any express reservations
described herein.
Page].of 19 OFFICIAL RECORD
CFW Sales Contract with 2019 Forest Part:,LLC
CITY SECRETARY
FT. WORTH,TX
(c) In Seller's conveyance of the Property to Purchaser, the following rights
and interests shall be reserved to Seller (or have previously been reserved by Seller's
predecessor in title), and such reservation is hereby approved For all purposes: all right,
title_ and interest in and to all oil, gas, and other minerals in and under the Property;
provided that Seller waives and conveys to Purchaser the right of ingress and egress to
and from the surface ofthe Property relating to the portion of the mineral estate owned by
Seller.
Section 2. Independent Contract Consideration, Purchase Price, and Earnest
Money.
(a) Contemporaneously with the execution of this Contract, Purchaser hereby
delivers to Seller the amount of 5100.00 ("Independent Contract Consideration") which
amount the parties bargained for and agreed to as consideration for Seller's execution and
delivery of this Contract This Independent Contract Consideration is in addition to and
independent of any other consideration or payment provided for in this Contract, is
nonrefundable, and shall be retained by Seller notwithstanding any other provision of this
Contract.
(b) The purchase price ("Purchase Price") for the Property, payable by
Purchaser to Seller in cash at closing (defined below), is S56,124.60. Seller has
determined that the Purchase Price reflects the current fair market value of the Property.
(c) Within five (5) days after the execution and delivery of this Contract by
Seller to Purchaser, Purchaser shall deliver to: Alamo Title Company, 714 W Magnolia
Avenue., Fort Worth, Texas 76014 ("Title Company"), Je.nna I topper-Dickson as escrow
officer, a check payable to the order of title company or other means of funding
reasonably satisfactory to Seller earnest money in the amount of $5,000.00 ("Earnest
Money"). Purchaser's failure to deposit the Earnest Money as provided herein shall
entitle Seller to void this Contract The Earnest kloney shall secure Purchaser's
performance of its closing obligations stated in this Contract. Title Company shall hold
the Earnest Money in escrow and deliver it in accordance with the provisions of this
Contract.
Section 3. Title Commitment and Survey,
(a) Within twenty (20) days after the Effective Date, Purchaser may obtain at
Purchaser's sole cost and expense (i) a Commitment for Title Insurance and Title Policy
("Title Commitment") from the 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) Purchaser has obtained, at Purchaser's sole cost and expense, an updated
survey ("Survey") dated October 7, 2019 consisting of a plat and field notes describing
the Property, prepared pursuant to a current on-the-ground staked survey performed by
Page 2of19
CFW Sates Contract with 2019 Forest Park,LLC
David Carlton Lewis, R P.I. S No 5647, a copy Of which is attached hereto as Exhibit
"A" The description of the Property prepared as a part of the Survey will be used in �rll
of the documents set forth in this Contract that requires a legal description of the
Property.
(c) 11' the Title Commitment or Survey discloses any Encumbrances or other
matters that are not acceptable to Purchaser in Purchaser's sole discretion, then Purchaser
shall give Seller- written notice thereof within fifteen (15) days after receipt of the Title
Commitment 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
CIO so.
(d) If Purchaser gives notice of Objections and Seller does not cure. the
Objections, cause the Title Commitment 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 (as defined below), and, upon such termination, Purchaser shall be entitled to the
return of the Earnest Money, and 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 detennined by Purchaser in Purchaser's sole
discretion, then Purchaser in Purchaser's sole discretion may extend the Cure Period for
an amount of time Purchaser deems necessary for Seller to cure the same.
Section 4. _Review Reports. Within five (5) days after the Effective Date, Seller
shall deliver to Purchaser for Purchaser's review any environmental or engineering
reports and studies in Seller's possession concerning the Property ("Reports'-)
Section 5. Representations, Warranties, "AS IS"
(a) EXCEPT AS EXPRESSLY STATED IN THIS AGREEMENT AND THE
SPECIAL WARRANTY OF TITLE IN THE DEED TO BE DELIVERED BY
SELLER AT CLOSING, PURCHASER ACKNOWLEDGES AND AGREES
THAT SELLER HAS NOT MADE, DOES NOT MAKE AND SPECIFICALLY
NEGATES AND DISCLAIMS ANY REPRESENTATIONS, WARRANTIES,
PRONHSES, COVENANTS, AGREEtNIENTS OR GUARANTIES OF ANY KIND
OR CHARACTER WHATSOEVER, WHETHER EXPRESS OR IMPIJED,
ORAL OR WRITTEN, PAST, PRESENT OR FUTURE, OF, AS, TO
CONCERNING OR WITH RESPECT TO (A) THE VALUE, NATURE, QUALITY
OR CONDITION OF THE PROPERTY INCLUDING, WITHOUT LIMITATION,
THE WATER, SOIL AND GEOLOGY, (B) THE INCOME TO BE DERIVED
FROM THE PROPERTY, (C) THE SUITABILITY OF THE PROPERTY FOR
ANY AND ALL ACTIVITIES AND USES WHICH PURCHASER MAY
Page 3 of 19
CF%V Sales Contract«ith 2019 Forest Park, LLC
CONDUCT THEREON, (D) THE COMPLIANCE OF OR BY THE PROPERTY
OR ITS OPERATION WITH ANY LAWS, RULES, ORDINANCES OR
REGULATIONS OF ANY APPLICABLE GOVERNMENTAL AUTHORITY OR
BODY, (E:) THE HABITABILITY, MERCHANTABILITY, MARKETABILITY,
PROFITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE
PROPERTY, (F) THE MANNER OR QUALITY OF THE CONSTRUCTION OR
MATERIALS, IF ANY, INCORPORATED INTO THE PROPERTY, (G) THE
MANNER, QUALITY, STATE OF REPAIR OR LACK OF REPAIR OF THE
PROPERTY, OR (H) ANY OTHER MATTER WITH RESPECT TO THE
PROPERTY, AND SPECIFICALLY, THAT SELLER HAS NOT MADE, DOES
NOT MAKE AND SPECIFICALLY DISCLAIMS ANY REPRESENTATIONS
REGARDING COMPLIANCE WITH ANY ENVIRONMENTAL, PROTECTION,
POLLUTION OR LAND USE LAWS, RULES, REGULATIONS, ORDERS OF
REQUIREMENTS, INCLUDING SOLID WASTE, AS DEFINED BY THE U. S.
ENVIRONMENTAL PROTECTION AGENCY REGULATIONS AT 40 C.F.R.,
PART 261, OR THE DISPOSAL OR EXISTENCE IN OR ON THE; PROPERTY,
OF ANY HAZARDOUS SUBSTANCE:, AS DEFINED BY THE
COMPREHENSIVE ENVIRONMENTAL RESPONSE COMPENSATION AND
LIABILITY ACT OF 1980, AS AMENDED, AND REGULATIONS
PROMULGATED THEREUNDER. PURCHASER FURTHER
ACKNOWLEDGES AND AGREES THAT HAVING BEEN GIVEN THE
OPPORTUNITY TO INSPECT THE PROPERTY, PURCHASER IS RELYING
SOLELY ON ITS OWN INVESTIGATION OF THE PROPERTY AND NOT ON
ANY INFOR-MATION PROVIDED OR TO BE PROVIDED BY SELLER. AS A
MATERIAL PART OF THE CONSIDERATION FOR THIS AGREEMENT,
SELLER AND PURCHASER AGREE THAT PURCHASER IS TAKING THE
PROPERTY "AS IS" WITH ANY AND ALL LATENT AND PATENT DEFECTS
AND THAT THERE IS NO WARRANTY BY SELLER THAT THE PROPERTY
IS FIT FOR A PARTICULAR PURPOSE. PURCHASER ACKNOWLEDGES
THAT IT IS NOT RELYING UPON ANY REPRESENTATIONS, STATEMENTS,
ASSERTIONS OR NON-ASSERTIONS BY THE SELLER WITH RESPECT TO
THE PROPERTY CONDITION, BUT IS RELYING SOLELY UPON ITS
EXAMINATION OF THE PROPERTY. PURCHASER TAKES THE PROPERTY
UNDER THE EXPRESS UNDERSTANDING THERE ARE NO EXPRESS OR
IMPLIED WARRANTIES (EXCEPT FOR SPECIAL WARRANTY OF TITLE
SET FORTH IN THE CLOSING DOCUMENTS).
b. The Provisions of Section 5(a) shall be incorporated into the Deed.
C. The provisions of Section 5(a) shall survive the Closing (as defined below).
Section 6. Option Period.
Page 4 of 19
CFW Sales Contract with 2019 Forest Park.LLC
(a) Notwithstanding anything to the contrary contained in this ContraCt, until
thirty (30) days after the Effective Date ("Option Period"), the following is a condition
precedent to Purchaser's obligations under this Contract:
Purchaser being satisfied in Ku-chaser's sole and absolute discretion that
the Property is suitable for Purchaser'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, or if Purchaser elects to
terminate this Contract for any reason, 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, Purchaser shall be entitled to the return of the Earnest Money and
neither party shall have any further rights or obligations under this Contract
(c) If Purchaser does not terminate this Contract prior to the expiration of the
Option Period, then the Earnest Money shall become non-refundable to Purchaser except
in the event of Seller's default in the performance of Seller's obligations under this
Contract.
(d) The provisions of this Section 6 control all other provisions of this
Contract.
(e) The parties agree that the Option Period will not be extended upon
expiration without a written amendment signed by both parties.
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 and engineering tests, borings, analyses, site assessments, and
studies ("Tests). Any Tests shall be conducted at Purchaser's sole risk and expense, and
Purchaser agrees to indemnify and defend Seller and the Property from any liens and
claims resulting from such Tests, provided that Purchaser shall not indemnify Seller and
Purchaser shall have no liability for existing conditions on the Property that are
discovered by the Tests, but are not caused by Purchaser. The Property will be restored
by Purchaser to its original condition at Purchaser's 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 studies or results of Tests
obtained by Purchaser during the Option Period, provided that Purchaser provides no
warranty or representation regarding the accuracy or completeness of the studies or
results of Tests.
Section S. Closing Contingencies.
(a) The Closing Contingencies are as follows:
Page;of 19
CFW Sales Contract with 2019 Forest Park,LLC
(1) The Fort Worth City Council must approve the sale of the Property
at a public meeting.
(b) Purchaser agrees to pursue the approvals and agreements described in the
Closing Contingencies above with reasonable diligence. Seller agrees to cooperate fully
with Purchaser in connection with Purchaser's pursuit of the above approvals.
(c) If any Closing Contingencies are not satisfied by January 28, 2020, then
this Contract shall terminate, and upon the termination, the Earnest Money shall be
refunded to Purchaser with any interest earned and neither party will have any further
rights or obligations hereunder; however, the deadline for Closing Contingencies may be
extended if such extension is agreed to in writing by the parties.
Section 9. Closin .
(a) Closing (the"Closing") shall occur no later than twenty (20) days after the
expiration of the Option Period or the date that the Closing Contingencies are satisfied,
whichever is the last to occur, unless extended by mutual written agreement of the
parties. At the Closing, all of the following shall occur, all of which are deemed
concurrent conditions:
(1) Seller, at Purchaser's sole cost and expense, shall deliver or cause
to be delivered to Purchaser the following:
(1) A Special Warranty Deed ("Deed"), fully executed and
acknowledged by Seller, conveying to Purchaser good and
indefeasible fee simple title to the Property subject to the
Permitted Exceptions, with the precise form of the Deed to
be determined pursuant to Section 1 I below; and
(ii) A permanent easement for the existing sewer line on the
Property, as further described in Attachment "B", will be
established; and
(iii) Any other instrument or document reasonably necessary for
Title Company to issue the Owner Policy in accordance
with Section 9(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 such other means of funding acceptable to Seller, in an amount
equal to the Purchase Price, adjusted for closing costs and prorations.
Page G of 19
CFW Sales Contract with 2019 Forest Park,LLC
(3) The Title Company shall issue to Purchaser, at Purchaser's sole
cost and expense, a Texas 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, Purchaser 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) The Earnest Money (including any Additional Earnest Money)
shall be applied to the Purchase Price at Closing.
(5) Seller and Purchaser shall each pay their respective attorneys' fees.
(6) Any easements conveyed to the Seller will be at no cost to the
Seller.
(7) Except as otherwise provided herein, all costs and expenses in
connection with Closing shall be paid or borne by Purchaser including
without limitation, Title Company attorney and escrow or settlement fees,
costs of tax certificates, survey costs, title insurance policy costs and City
of Fort Worth Property Management Department administration fee of
$1,600.00
(b) Ad valorem and similar taxes and assessments, if any, relating to the
Property for the year in which Closing occurs shall be paid by Purchaser. The provisions
of this Section 9(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 and the Lease
Agreement between Seller and Purchaser shall automatically terminate.
Section 10. Agents. Seller and Purchaser 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 except the following: NONE
. Purchaser shall be solely responsible for and shall indemnify Seller from
payment of any brokerage fees or commissions.
Section 11. Closing Documents. No later than fifteen (15) days prior to the
Closing, Seller shall deliver to Purchaser a copy of the Special Warranty Deed, which is
subject to Purchaser's reasonable right of approval.
Section 12. Notices.
Page 7 of 19
CFW Sales Contract with 2019 Forest Pork,LLC
(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, or (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.
(b) The address of Seller under this Contract is:
City of Fort Worth With a copy to:
200 Texas Street Leann Guzman
Fort Worth, Texas 76102 Section Chief
Property Management Department City Attorney's Office
Attention: Real Property Division City of Fort Worth
Mark Brown, Senior Land Agent 200 Texas Street
"Telephone (817)392-5917 Fort Worth, Texas 76102
(817) 392-8973
(c) The address of Purchaser under this Contract is:
5300 Camp Bowie Blvd,
Fort Worth, Texas 76107
Attn: Randall Stepp
(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 13. 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, and Title Company
shall deliver the Earnest Money to Seller as liquidated damages, free of any claims by
Purchaser or any other person with respect thereto. It is agreed that the Earnest Money to
which the Seller is entitled hereunder is a reasonable forecast of just compensation for the
harm that would be caused by Purchaser's breach and that the harm that would be caused
Page 8 of 19
CFW Sales Contract with 2019 Forest Park,LLC
by such breach is one that is incapable o- eery difficult of accurate estimation, and that
the payment of these sums upon such breach sha11 constitute full satisfaction of
Purchaser's obligations hereunder.
(b) If Seller fails or refuses to consumnnate 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 of-
Purchaser's failure to perform Purchaser's obligations under this Contract, then Purchaser
shall have the right to: (a) terminate this Contract by giving written notice thereof to
Seller prior to or at the Closing whereupon the Earnest Money shall be returned to
Purchaser and neither parity hereto shall have any Further rights or obligations hereunder,
or (b) enforce the remedy of specific performance.
(c) If either Seller or Purchaser becomes entitled to the Farnest Money upon
cancellation of this Contract in accordance with its terms, Purchaser and Seller covenant
and agree to deliver- a letter of instruction to the Title Company directing disbursement of
the Flarnest Money to the party entitled thereto.
Section 14. 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 incoporated herein is of any force and effect. No
moditications are binding on either party unless set forth in a document executed by that
party.
Section 15. Assi ns. This Contract inures to the benefit of and is binding on the
parties and their respective legal representatives, successors, and assigns. Any
assignment of this Contract without the prior written consent of the other party shall be
void
Section 16. Time of the Essence. It is expressly agreed that time is of the
essence with respect to this Contract
Section 17. Taking Prior to Closing. Jr. 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 whereupon the Earnest
Money shall be returned to Purchaser, 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 tine.
takintz.
Section 18. Governing Law. This Contract shall be governed by and construed in
accordance x-vith the laws of file State of Texas
Page 9 of 19
CFW Sales Contract frith 2019 Forest Park,LLC
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 or the day for performance of any act
required under this Contract falls on a Saturday, Sunday, or legal holiday for the City of
Fort North or federal holiday, then the Closing or the day for such performance, as the
case may be, shall be the next following regular business day.
Section 23. Multiple Counterparts. This Contract may be executed in any
number of identical counterparts. If So executed, each of such counterparts is to be
deemed an original for all purposes, and all such counterparts shall, collectively,
constitute one agreement, but, in malting proof of this Contract, it shall not be necessary
to produce or account for more than one Such counterpart.
Section 24. Attorneys' Fees. Should either party hereto institute any action or
proceeding in court to enforce this Agreement, the prevailing party in any such action or
proceeding shall be entitled to receive from the non-prevailing party all reasonable
attorneys' fees and court costs in connection with such action or proceeding. A plaintiff
is a prevailing party if it succeeds on the merits of' its claim(s). A defendant is a
prevailing party if the defendant defeats the claim(s) brought by the plaintiff or if the
defendant succeeds on any claims for affirmative relief against the plaintiff. It is not
necessary for a defendant to bring affirmative claims against plaintiff to be a prevailing
party for purposes ofthis provision.
(SIGNATURES APPEAR ON THE FOLLOWING PAGE]
Page 10 of 19
CFW Sales Contract with 2019 Forest Park,LLC
This Contract is executed as of the Effective Date of jAjk 44 1 2020
SELLER: - PURCHASER(S .
CITY OF F T WORTH, TEXAS 2019t
1MIV 1. .C'
By: -- - - __ Byi
oi Kevin D , Assistant City Manager Name: N "
W
Date: ?L.�a Owner's Title: C11 City of of Fort Worth
Contract Compliance Manager:
By signing I acknowledge that I am the
person responsible for the monitoring and
administration of this contract, including
ensuring all perform price and reporting requirements.
TitleeAle( +�i/� �/�j
Approved as to Form and Legality:
'Vwd U Ix
eann Guzman
Senior Assistant City Attorney, Section
Aft
V7
_._
ary Kaqe
City Secre ary
ao
129s: 0/
Page 11 of 19 OFFICIAL RECORD
CFW Sales Contract with 2019 Forest Park, LLC CITY SECRETARY
FT WORTH,TX
By its execution below, Title Company acknowledges receipt of the karnest Money
described in this Contract and agrees to hold and deliver the same and perform its other
duties pursuant to the provisions of this Contract.
TITLE COMPANY:
Alamo Tille
By: — -
Name:
Title:
Date:
Phone:
Ernai I
Fax-.
Pagc 12 of 19
CFW Sales Contract with 2019 Forest Park, LLC
Exhibit "A"
Property
SURVEY AND METES AND BOUNDS DESCRIPTION
(ATTACHED)
All that certain 0.2951 of an acre of land, out of the existing right-of-way of Purcey Street
(Right-Of-Way Varies) and North Forest Park (Right-Of-Way), in the A. Robinson
Survey, A-1289, City of Fort Worth, Tarrant County, Texas and more particularly
described by metes and bounds as follows: (All bearings shown hereon are based on the
Plat of Field's Hillside Addition, recorded, in Volume 63, Page 63, in the Public Records
of Tarrant County, Texas.
BEGINNING at a PK Nail with a washer stamped "SPRY 5647" found for the west
corner of Lot 1, Block S-6, of said Field's Hillside Addition, common to the most
northerly corner for the herein described tract, at the intersection of the southeast right-of-
way line of West Bluff Street (50' Right-Of-Way) and the existing northeast right-of-way
line of said Purcey Street;
THENCE South 30' 00' 00" East — 100.00' to a "Y" cut in concrete found for the south
corner of said Lot 1, Block S-6, of Field's Hillside Addition, common to a point for
corner of the herein described tract, at the intersection of the existing northeast right-of-
way line of said Purcey Street, and the existing north right-of-way line of North Forest
Park;
THENCE North 60' 00' 00" East — 100.07' continuing along the existing right-of-way
line of said North Forest Park, to a Railroad Spike found a point for corner of the herein
described tract, in the west line of Lot 2, Block 18, Lexington Square Townhomes
Addition, recorded in Cabinet A, Slide 4539 P.R.T.C.T;
THENCE South 30' 00' 00" East — 7.50' continuing along the existing right-of-way line
of said North Forest Park, to an "X" in concrete set for a point for corner of the herein
described tract, common to the south corner of said Lot 2, Block 18, Lexington Square
Townhomes Addition;
THENCE North 60' 00' 00" East — 19.93' along the south line of said Lot 2, Block 18,
Lexington Square Townhomes Addition, to a "V" set in a wall for a point for corner of
the herein described tract, common to the west corner of Lot 18, of said Block 18,
Lexington Square Townhomes Addition;
THENCE South 30' 00' 00" East — 77.47' to a 1/2" iron rod with a cap stamped "SPRY
5647" set for the southeast corner of the herein described tract, in the "proposed" north
right-of-way line of North Forest Park (Right-Of-Way Varies), which is a point on a
curve to the right having a central angle of 20' 46' 04", a radius of 570.00', and a chord
bearing and distance of South 87' 51' 02" West—205.48';
Page 13 of 19
CFW Sales Contract with 2019 Forest Park,LLC
THENCE along said curve to the right, and along the "Proposed" north right-of-way line
of said North Forest Park, an arc distance of 206.61', to a 1/2" iron rod with a cap
stamped "SPRY 5647" set for the east end of the "proposed" northeast right-of-way
cutback curve at the intersection of the "proposed" north right-of-way line of said North
Forest Park the `proposed" east right-of-way line of Purcey Street, which is the Point of
Compound Curvature of a curve to the right, having a central angle of 96' 48' 01", a
radius of 20.00', and a chord bearing and distance of North 330 21' 55" West—29.91';
THENCE along said curve to the right, along said "proposed" northeast right-of-way
cutback curve, an arc distance of 33.79', to a 1/2" iron rod with a cap stamped "SPRY
5647" set for the north end of said cutback curve, in the "proposed" east right-of-way
line of said Purcey Street, which is the Point of Reverse Curvature of a curve to the left,
having a central angle 15' 15' 59", a radius of 232.42', and a chord bearing and distance
of North 070 24' 06" East—61.74';
THENCE along said curve to the left, and along the "proposed" east right-of-way line of
said Purcey Street, an arc distance of 61.93', to , to a 1/2" iron rod with a cap stamped
"SPRY 5647" set for the a Point of Reverse Curvature of a curve to the right, having a
central angle of 600 13' 54", a radius of 20.00', and a chord bearing and distance of North
29' 53' 03" East—20.07%
THENCE along said curve to the right, an arc distance of 21.02', to a 1/2" iron rod with a
cap stamped "SPRY 5647" set for the end of curve, in the south right-of-way line of said
West Bluff Street;
THENCE North 600 00' 00" East — 8.57' along the south right-of-way line of said West
Bluff Street, to the POINT OF BEGINNING and containing 0.2951 of an acre of land.
Page 14 of 19
CFW Sales Contract with 2019 Forest Park,LLC
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 01/14/20 M&C FILE NUMBER: M&C 20-0021
LOG NAME: 212019 FOREST PARK LLC SALE
SUBJECT
Authorize Direct Sale of a City Fee-Owned Property of a Certain Piece of Land Containing Approximately 12,900 Square Feet Located Adjacent
to Lots 1,2 and Part of 3, Block S-6, Field's Hillside Addition for a Sales Price of$57,724.60 to 2019 Forest Park, LLC. in Accordance with
Section 272.001(b)(1)of the Texas Local Government Code(COUNCIL DISTRICT 9)
RECOMMENDATION:
It is recommended that the City Council:
1.Authorize direct sale of a city fee-owned property of a certain piece of land containing approximately 12,900 square feet located adjacent to
Lots 1,2 and part of 3, Block S-6, Field's Hillside Addition for a sales price of$57,724.60 to 2019 Forest Park, LLC in accordance with Section
272.001(b)(1)of the Texas Local Government Code;and
2.Authorize acceptance of a permanent sewer line easement on the Property as a condition of closing;and
3. Authorize the City Manager or his designee to execute and record the appropriate instrument conveying the property to complete the sale and
accepting the permanent sewer line easement.
DISCUSSION:
2019 Forest Park LLC.("FPLLC"), is the current owner of the adjacent building and Lessee of the City fee-owned piece of land containing
approximately 12,900 square feet located adjacent to Lots 1,2 and part of 3, Block S-6, Field's Hillside Addition("Property")being used for
parking and signage for the adjacent building.The Property has been used for this purpose since 1975.
FPLLC submitted a direct sale request to the Property Management Department to purchase the Property for continued use as parking and
signage.Because the subject property cannot be developed independently due to its shape,the direct sale is authorized under Local Government
Code Section 272.001(b)(1).
An independent appraisal was performed on the property and the agreed upon sales price of$57,724.60 includes administative and document
preparation fees totaling$1,600.00.The buyer will be responsible for all closing costs related to this transaction.The City of Fort Worth will retain a
permanent sewer line easement across the subject property as well as all mineral interests it may own in conjunction with the property.
Administrative
Appraised and Total
Purchaser Type Legal Description Size Property Document Purchase
Value Preparation Amount
L IL L Fee
A certain piece of
2019 Direct land located adjacent Approximately
Forest Sale to Lots 1,2 and part of 12,900 $56,124.60 $1,600.00 $57,724.60
Park, LLC 3, Block S-6, Field's square feet
Hillside Addition
This property is located in COUNCIL DISTRICT 9.
FISCAL INFORMATION/CERTIFICATION:
The Financial Management Services Director certifies that the Property Management Department(and Financial Management Services)are
responsible,upon closing and funding of the sale,for the collection and deposit of these funds into the General Fund.
Submitted for City Manager's Office by. Kevin Gunn 2015
Originating Business Unit Head: Steve Cooke 5134
Roger Venables 6334
Additional Information Contact: Mark Brown 5197
Jean Petr 8367