The URL can be used to link to this page

Home My WebLink AboutContract 38981ASSIGNMENT OF TAX ABATEMENT AGREEMENT This Assignment of Tax Abatement Agreement is made and entered into by and between Blakely Richardson and Daniel Soteldo ("Assignors") and Charles S. Reeves and Laura H. Reeves, ("Assignee") and the City of Fort Worth, ("City") RECITALS A. Ridglea Place, L.P. and the City of Fort Worth, Texas (the "City") entered into that certain Tax Abatement Agreement ("Agreement") for Property Located 6115 Portrush Drive, Block 1R, Lot 21R, Ridglea Place Addition ("Property") which is located in the Ridglea/Como Neighborhood Empowerment Zone, such Agreement approved by the City Council of Fort Worth November 18, 2003, City Secretary Contract Number 29901 ("Agreement"): B. Pursuant to that certain Special Warranty Deed dated as of April 14, 2005 recorded under Tarrant County Deed Records, Ridglea Place, LP 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 Ridglea Place, LP to assign all of its rights under the Agreement to a home buyer, without obtaining the prior consent of the City Council: D. Ridglea Place, LP assigned the Agreement to Blakely Richardson and Daniel Soteldo, Assignor, such Agreement is dated Apri1 14y Secretary , 2005 Cit Contract Number 31872, E. Pursuant to that certain Special Warranty Deed dated as of July 16, 2009, recorded under Tarrant County Deed Records, Assignor conveyed the Property to Charles S. Reeves and Laura H. Reeves 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: 1. Assignment. Assignor hereby ASSIGNS, TRANSFERS AND CONVEYS all rights, dttt�es,,obligations, title and interest under the Agreement to Assignee. ®FFICIAL RECORD PITX SECRETARY Ft WORTH, TX 1 2. Acceptance. Assignee hereby accepts the Assignment granted herein, and assumes all of Assignor's rights, duties and obligations arising tinder the Agreement. 3. Effective Date. The effective date of this Assignment is July 16, 2009 ("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 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 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 (NEZ) 1000 Throclunorton Fort Worth, Texas 76102 ASSIGNEE: Charles S. Reeves and Laura H. Reeves 6115 Portrush Dr. Fort Worth, TX 76116 2 ASSIGNOR: Blakely Richardson and Daniel Soteldo S. Successors. Except as herein otherw%se provided, t111S ASS1gIllllellt W111 lie blIldillg upon and inure to the benefit of the parties, and their respective heirs, executors, administrators, successors and assigns. 9 Countel-oarts. This Assignment may be executed in multiple counterparts, each of which, once executed, will be an original and fidly-binding on the parties so executing; and all such counterparts together constitute one and the same agreement. 10. Binding Offer. This Assigm�lent 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: B1altely Richardson and Daniel Soteldo ASSIGNEE: Charles S. Reeves and Laura H. Reeves Name: Laura H. Reeves ASSIGNOR: Blakely Richardson and Daniel Soteldo 8. Successors. Except as herein otherwise provided, this Assignment will upon and inure to the benefit of the parties, and their respective heirs, administrators, successors and assigns, be binding executors, 9. Comlteiparts. 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. Binding 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: Blakely Richardson and Daniel Soteldo Name: Blalcel Namiiel Soteldo ASSIGNEE: Charles S. Reeves and Laura H. Reeves Name: Charles.S _Reeves CITY OF FORT WORTH ,cT.M. Higgins Assistant City Manager ATTEST: vi�y v�viv�ui y APPROVED AS TO FORM AND LEGALITY: Charlene Sanders Assistant City Attorney M & C: C-19864 OFFICIAL RECORD �aITY SECRETARY T. WORTH, TX STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared T.M. Higgins, 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 2009. Notar� Public in a the State of Texas AND SEAL OF OFFICE this I day of �l,,g MARiA �. SANCMEZ NOTARY PUBLIC y STATE OF "TEXAS ;o t) �i. Comm. Fxp.12-14-2009 5 BEFORE ME, the undersigned authonty, on this day personally appeared Blakely Richardson, 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 /(P day of tIAN J, CI>UIPERMAN, {Votary Public State of Ohio - Cuyahoga County Commission Expires Mar,15, 20 STATE OFF— `—'§- COUNTY OF��I�'C'T § BEFORE ME, the undersigned authority, on this day personally appeared Daniel Soteldo, laiown 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. GI EN UNDER R/'' HAND AND SEAL OF OFFICE this day of 20092 c�ary�'u� in and for e State Ohio 0 �I�N J. CIMPEt�MMAN, Notary Public Scats of Ohio -Cuyahoga County Canr�ussian Expires Mar.15, 20 STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Charles S. Reeves, 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. UNDER MY HAND 2009. Notary Public in and for the State of Texas STATE OF TEXAS § COUNTY OF TARRANT § AND SEAL OF OFFICE this day of BEFORE ME, the undersigned authority, on this day personally appeared Laura H. Reeves, 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. GIV(�N UNDER MY HAND AND SEAL OF OFFICE this � day of At V aJ , 2009. Notary Public in and for the State of Texas 7