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Home My WebLink AboutContract 36817-CA2 CITY grMvift. come ASSIGNMENT OF TAX ABATEMENT AGREEI+Iat NT This Assignment of Tax Abatement Agreement is made and entered into by and between Impression Homes, L.L.C., ("Assignor") and Andrew Beharrylal and Kamla Beharrylal,("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 5817 Maui Drive ; Lot 15; Block 5; 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 36517( Agreement): B. Pursuant to that certain Special Warranty Deed dated as of 07/29/2013 recorded under Tarrant County Deed Records, Waterview conveyed the Property to Assignor and Assignor acquired title to the Property which is the subject of the Agreement: C. Section 5 of the Agreement permits Waterview to assign all of its rights under the Agreement to Impression Homes, L.L.C. ("Impression"), without obtaining the prior consent of the City Council: D. Waterview assigned the Agreement to Impression Assignor, such Agreement is dated 07/29/2013 City Secretary Contract Number 36817-CAI_ E. Pursuant to that certain Special Warranty Deed dated as of 12/13/2013 recorded under Tarrant County Deed Records, Assignor conveyed the Property to Andrew Beharrylal and Kamla Beharrylal and Assignee acquired title to the real property which is the subject of the Agreement. F. 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: Assignment of Tax Abatement Contract#36$17-CA1 from impression mCORID 6, L DC Andrew Beharrylal and Ka.mla Beharrylal. OF�4c RECEIVED VlAk I � 1. Assignment. Assignor hereby ASSIGNS, TRANSFERS AND CONVEYS all rights, duties, obligations,title and interest under the Agreement to Assignee. 2. Acce Lance. 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 12/13/2013 ("Effective Date'). All rights, duties and obligations under the Agreement arising, accruing or relating to the period before the Effective Date are allocated to Assignor and all rights, duties and obligations arising, accruing or relating to the period thereafter shall be allocated to Assignee. 4. Release and Surre der of Assignor- Except as otherwise exprQssly set forth in this Assignment,Assignor will be discharged from any and all further obligations-under the Agreement as of the Effective Date. Assignor must surrender the Property to the Assignee on, or before 11:59 p. m. on the date prior to the Effective Date in its present condition. Assignor relinquishes ftny right to any improvements,fixtures or equipment on the Property. 5. Repa resntations, Assignor represents, warrants and covenants with Assignee that as of the Effective Date, that Assignor is not in default under any of its obligations contained in the Agreement. 6. City of Fort Worth's Consent. City of Fort Worth hereby consents to this Assignment upon the terms and conditions set forth herein. Unless and until City of Fort Worth has executed this Assignment, this Assignment is of no effect the consent granted herein should not be construed as consent to any further assignment except as provided in the Agreement. The failure or delay of City of Fort Worth in seeking to enforce any provisions of the Agreement or this Assignment should not be deemed a waiver of rights or remedies that City of Fort Worth may have, or a waiver of any subsequent breach of the terms and provisions therein or herein contained. 7. Notices. Any notice given by any party to another party hereto must be given in the manner required under the Agreement. The addresses set forth below supercede any addresses for notices set forth in the Agreement. CITY OF FORT WORTH: City of Fort Worth Housing&Economic Development Department Neighborhood Empowerment Zone Program 1000 Throckmorton- Fort Worth, Texas 76102 Assignment of Tax Abatement Contract#36817-CA1 from Impression Homes,LLC,to Andrew Beharrylal and Kamla Beharrylal. 2 ASSIGNOR: ASSIGNEE: Impression Homes,L.L.C. Andrew&Kamla Beharrylal P.O.Box 1838 5817 Maui Drive Keller,Texas 76244 Fort Worth,Texas 76119 8. 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. Counterpart. 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. '10. Bindinja 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. ASSIGNOR:pipress o omes,L.L.0 4.- k Name: Brace Healinen Title: Mannaging Member STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Bruce Heikkinen, Managing_Member of Impression. Horns, 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 the Impression Homes, L.L.C. a Texas limited liability company. GIVEN UNDER MY HAND AND SEAL OF OFFICE this ay of 0 in. "11 KEHI KEIS M Y ,OMMISS ON EXPIRES . z. 1 Juns 19,2017 Notary Public in and o ,4r, ' the State of Texas Assignment of Tax Abatement Contract#36817-CAI from Impression Homes, LLC,to Andrew Beharrylal and Kamla Beharrylal. 3 ASSIGNEE: Andrew Behailylal Name: Andrew Bch4MLIal ASSIGNEE. Kamla Behanylal Name: Kamla Bleharrwylal STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Andrew & Kamla Beharrylal, known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed,in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this ,, _ day of 2013. No ubli in and for the St too exas yr, BRANDON KSON MY COMMISSION EXPIRES Jiro 24,2616 CITY OF FORT WORTH Fernando Costa Assistant City Manager ATTEST: �o (j$ e S - ary.Ka�ci, Wrecr&iryQA Assignment of Tax Abatement Contract#36$17-CAI from Impression liomes I,I C �� Andrew Beharrylal and Kamla Beharrylal. ��P° �`�.R4i1®�°i�� APPROVED AS TO FORM AND LEGALITY: Melinda Ramos Assistant City Attorney M&C: C-22514 STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Femando Costa, Assistant City Manager of the CITY OF FORT NORTH, 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 „rday of T>201).L4 otary Public in and for the State of Texas i.N DA M.i�I. H I teat Et MY COMMISSION EXPIRES ,. Pro Few"4 2018 Assignment of Tax Abatement Contract#36$17-CA1 fi-om Impression Homes,LLC,to Andrew Beharrylal and Karma,Beharrylal. 5