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HomeMy WebLinkAboutContract 38963CITY SECRETAW CONTRACT NO ASSIGNMENT OF TAX ABATEMENT AGREEMENT This Assignment of Tax Abatement Agreement is made and entered into by and between HMH Lifestyles, L.P., ("Assignor") and Natoya Johnson, ("Assignee") and the City of Fort Worth, ("City") RECITALS A. Sierra Vista L.P ("Sierra") and the City of Fort Worth, Texas (the "City") entered into that certain Tax Abatement Agreement ("Agreement") for Property Located 1304 Montoya Lanel, Lot 67 , in Block. A of SIERRA VISTA, an addition to the City of Fort Worth, Tarrant County Texas, according to the Map or Plat thereof recorded in Cabinet A , Slide 10693 & 10694 , Plat Records, Tarrant County; Texas ("Property") which is located in the Rolling Hills Neighborhood Empowerment Zone, such Agreement approved by the City Council of Fort Worth February 21, 2006, City Secretary Contract Number ;5410 7 ("Agreement"). B. Pursuant to that certain Special Warranty Deed dated as of October 1,2008 recorded under Tarrant County Deed Records, Sierra 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 Sierra to assign all of its rights under the Agreement to HMH Lifestyles, L.P., without obtaining the prior consent of the City Council, D. Sierra assigned the Agreement to HMH Lifestyles, L.P. Assignor, such Agreement is dated October 1, 2008 City Secretary Contract Number E. Pursuant to that certain Special `Warranty Deed dated as of January `�, 2009, recorded under Tarrant County Deed Records, Assignor conveyed the Property to Natoya Johnson 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: OFFICIAL RECORD OITY SECRETARY` FT WORTH, TX 0�3-14- AGREEMENT NOW THEREFORE, in consideration of the mutual terms and conditions herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 1. Assignment. Assignor hereby ASSIGNS, TRANSFERS AND CONVEYS all rights, duties, obligations, title and interest under the Agreement to Assignee. 2. Acceptance. Assignee hereby accepts the Assignment granted herein, and assumes all of Assignor's rights, duties and obligations arising under the Agreement. 3. Effective Date. The effective date of this Assignment is January ("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. 2 CITY OF FORT WORTH: City of Fort Worth Housing Department (NEZ) 1000 Throckmorton Fort Worth, Texas 76102 ASSIGNEE: Natoya Johnson 1304 Montoya Lane Fort Worth, Texas 761-19 ASSIGNOR: HMH Lifestyles, L.P. 9001 Airport Freeway, Suite 400 North Richland Hills, TX 75180 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. Counterparts. This Assignment may be executed in multiple counterparts, each of which, once executed, will be an original and fully -binding on the parties so executing; and all such counterparts together constitute one and the same agreement. 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: HMH Lifestyles, L.P. Nance: Title: 3 ASSIGNEE: Natoya Johnson CITY OF FORT WORTH /r j4r ` T.M. Higgins Assistant City Manager ATTEST: APPROVED AS TO FORM AND LEGALITY: Charlene Sanders Assistant City Attorney M & Co C-21313 WORTH, TX OFFICIAL RECORD OITY SECRETARY' To 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 AND SEAL OF OFFICE this day of 2009. Notary Public in and for the State of Texas E STATE OF TEXAS § COUNTY OF TARRANT § B ORE the undersigned authority, on this day personally appeared iA of HMH Lifestyles, L.P., a Texas limited rtnership, known to me to bet 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 HMH Lifestyles, L.P. a Texas limited partnership. TINDER MY HAND AND SEAL OF OFFICE this � day of dI , 2009. _ Notary Public in and for the State of Texas STACEY BELL MY COMMISSION EXPIRES Nbruaty 14, 2010 STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally Johnson, known to me to be the person whose name is subscribed instrument, and acknowledged to me that he executed the same for consideration therein expressed, in the capacity therein stated. appeare d Natoya to the foregoing purposes and the UNDER MY HAND AND SEAL OF OFFICE this � day of ( i�(A 20099 in and for < the State of Texas iINA M. ESTEP T Notary Public, State of Texas My Commission Expires May 20, 2009 Electronically Recorded Officlal Public Records Tarrant County Texas D209039870 �Y'Y RIGHTS: IF YOU ARE A NATURAL PER�N, YOU MAY OR AI,L OF THE FOLLOWING INFORMATION FROM ANY VSFERS AN INTEREST IN REAL PROPERTY BEFORE, IT IS PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR >URDRIVER'S LICENSE NUMBER Grantor: HMII Lifestyles, I'll. j Grantor's Mailing Address (inc udin coon : 9001 Airport Freeway, Suite 400, North Richland Hills, Tarrant Cuunly, TX 76180 Grantee: Natoya Johnson, u sin le w an Grantee's Mailing Address (inclu i N 4 ontoya Lane, Fort Worth, Tarrant County, TX 76119 Consideration: TEN AND NORM D LL RS d ther good and valuable consideration and the further consideration of u note duted of ev d e al is lh print at amount of Eighty Nine Thousund Filly Three and No/100th Dollars (S$9,053.00) and is ecuted b r tee, able to the order of NTFN, Inc. The note is secured in part by a vendor's lien retained in favor f N c. in is deed and by u deed of trust of even date herewith, from Grantee to George M. Shanks, Jr., Truste N And for the further consideration o to a ution and deliv by Grantee of a note dated of even date that is in the principal amount of Nineteen Thousand undred Nint ine d No/100`s Dollurs ($19,999.00), payable to w City of Fort Worth, Texas, us therein provide , and providin or accel ration of maturity upon defuull and attorney w fees, and further providing that should default be made in 1 - -a -*fficm)K of t " first described note above, or in any of the o covenants of the Deed of Trust securing the same, the in tedne a den d by the second described note shall, at the option of the holder thereof, at once become due and ynble, id n b g seemed by u subordinate Vendor's Lien hereby expressly retained and reserved upon the pro rty he des abed ad conveyed, and being additionally secured by a subordinate Deed of Trust of even date herewith Vi " S. uske, stee. Property (including any improvements): Lot 6 in Block , of TERRA VISTA, an addition to the City of Fort Worth, 'Tarrant County, 'Texas, according th or lat thereof recorded In Cabinet A, Slides 10693 & 10694, flat Records, Tarrant County, Texas. Reservations from and Exceptions to Conveyuinx W tram is conveyance is given and accepted subject to any and all restrictions, reservations, covenants, co di li ns, ghls Gwuy, easements, municipal and other governmental zoning laws, regulations and ordinances, if any, f re d in id County, affecting the herein described property. Grantor, for the consideration and subject to the reservations fro i im epti as to conveyance and warranty, grants, sells, and conveys to Grantee the property, together with all and ing ar Ih ri is and appurtenances thereto in any wise belonging, to have and hold it to Grantee, Grantee's heirs, ec tors, n" istrators, successors, or assigns forever, Grgralor binds Grantor and Grantor's heirs, executors, admin tra an c ors to warrant and forever defend all and singular the property to Grantee and Grantee's heirs, ex Mors, dm" " rato , successors, and assigns, against every person whomsoever lawfully clamming or to claim the e y p thereof, except as to the reservations from and exceptions to Conveyance and warranty. There is hereby reserved unto Grantor, their heirs and assigns all of onto 's " erest ' the oil, gas and other minerals in and under and that may be produced from the above property, by hate r met d duced or extmcted, together with the right of ingress and egress ut all times for the purpose of m' ,drill" g, plo " g, operating and developing said lands for oil, gas and other minerals and removing thesame there m. The Vendor's Liens and Superior Title herein retained are hereby lrunsfeaed ss Id d conveyed to NTFN, Inc., it successors and assigns. Grantor and Grantee also acknowledge the retention of a second, subordinate on Grantor hereby transfers the same to CITY OF FORT WORTH, hereinafter called "SEC I which lien secures, Grantee's certain other note of even date to SECOND LIEN BENS ] $192999.00, bahtg fitrther consideration paid to Grantor, as more p rticulazly described in herewith to V ICKI S. GANSKE, TRUSTEE, But it is expressly agreed and stipulated that the title are retained in favor of the FIRST -LIEN BENENFICIARY and SECOND -LIEN BED against the above described property, premises and improvements, until each of the above re: according to its terms, when this deed shall become absolute. • • w AF / • Real Estate 07I17/2009 Account Number: 40949427 Georeference: 38586-A-67 Property Location: 1304 Montoya Ln, Fort Worth Owner Information: Johnson, Natoya 2 Prior Owners Legal Description: Taxing Jurisdictions 1304 Montoya Ln Fort Worth Tx 76119-2671 Sierra Vista Addition Blk A Lot 67 026 City of Fort Worth 099 Regional Water District 220 Tarrant County 224 Tarrant County Hospital Dist 225 Tarrant County College Dist 905 Fort Worth ISD This InfonnatiorI is intended for reference only and is subject to change. It may not accurately reflect the complete status of the account as actually carried in TAD's database. Pronosed Values for Tax Year 2009 Land Imps 2009 Total'' Market Value $20,000 $82,600 $1023600 Appraised Value *_ _ $823080 Approximate Size *** _ _13870 .and Acres 060000 .and SgFt----- -- 0 -- Appraised value may be less than marKet value due to scare-manoareu unmauuna un v�iuc increases A zero value indicates that the property record has not yet been completed for the indicated fax year 'Rounded _Year Value History Tax Yea�i XMPT Appraised Land Appraised Jmpr Appraised Total Market Land.: Market Impr, Market Total 2008 LL000 $16,500 $0� $16,500 $16,500 $0 $16,500 $16,500 2007 ' 000 1_ — $16,500 �� $0 $16,500 $16,500 $0 i 2006 000 $5,000 $0 $5,000 $5,000� $0 $5,000 2009 Notice Sent: O5/22/2009 Exemptions: one Property Data Deed Date: 01/12/2009 Instrument: D209039870 Year Built: 2008 Pct Complete: 100 TAD Map: 2054 376 MAPSCO: 077Y Agent: None Protest Deadline: 06/22/2009 Class: 006 State Code: 02 Sngle Fam Invty Garage Bays: 01 Central Air, Y Central Heat: Y Pool: N