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HomeMy WebLinkAboutContract 38965SECRETARY CONTRACTCITY ` 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 Joseph Davis and Marie Davis ("Assignee") and the City of Fort Worth, ("City") A. RECITALS 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 1525 Chama Drive. Lot 28 . in Block F of SIERRA VISTA. an addition to the Texas ("Property") Empowerment Zone, Worth February 21, ("Agreement"): which is located in the Rolling Hills Neighborhood such Agreement approved by the City C uncil of Fort 2006, City Secretary Contract Number 3g5q' 0 Pursuant to that certain Special Warranty Deed dated as of October 13, 2006 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 13, 2006 City Secretary Contract Number E. Pursuant to that certain Special Warranty Deed dated as of December 15, 20085 recorded under Tarrant County Deed Records, Assignor conveyed the Property to Joseph Davis and Marie Davis 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: 7 OFFICIAL RECORD OITY SECRETARI� FT: WORTH, TX 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. Assig_nment. 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 December 1�t 2008 ("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, m. 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: Joseph Davis Marie Davis 1525 Chaina Drive Fort Worth; Texas 76119 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 bey 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. ASSIGNEE: Joseph Davis L - ASSIGNEE: Marie Davis CITY OF FORT WORTH T.M. Higginsel Assistant City Manager ATTEST: City Secretary APPROVED AS TO FORM AND LEGALITY: Charlene Sanders Assistant City Attorney M & Co C-21313 OFFICIAL RECORD �IT1r SECRETARY T. WORTH, TX 4 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 STATE OF TEXAS § COUNTY OF TARRANT § the de si ned authority, on this day personally appeared IO of HMH Lifestyles, L.P., a Texas limited artnership, 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 HMH Lifestyles, L.P. a Texas limited partnership. day of Notary Public iri and the State of Texas STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Joseph Davis and Marie Davis, known to me to zbe the person whose name is subscribed to the 0-0 foregoing instrument, and acknowledged 'to ,me that he executed the same for the purposes and consideration therein expressed, in the capacity therein stated. Y HAND AND SEAL OF OFFICE this l4/ da of UNDER M � Y 2008. Public in and for the State of Texas TINA M. ESTEP No YCe111111 loneExp ess May 20, 2001 Electronically Recorded Official Public Records Date: December 19; 20 ran or: 1IMI1 L1Fesiyl Grantor's Meiling Addre s County, TX 76180 Grantee: Joseph Davis an Grantee's Mailing Address Consideration: TEN consideration of a note dated o av Seven Hundred Eighty Six and NTFN, Inc. The note is secured in of trust of even date herewith, from NTFN, Inc., at Grantee's req property that is evidenced in part by retained for the benefit ofNl'FN, Inc. D208465367 CITY RIC'iiITS: iF YOLI A� A NATIURAL PERSON, YOU IY OR ALL OF THE FOLLOWING INFORMATION FROM RANSFERS AN INTEREST IN REAL PROPERTY BEFORE 1N THE PUBLIC RECORDS: YOUR SOCIAL SECURITY tR YOUR DRIVER'S LICENSE NUMBER NTV DEED WITH VENDOR'S LIEN Airport Fteeway,9uite 400, North Richland I -ells, Tarrant Property (including any improvem is t 27 Fort Worth, Tarrant County, 1'caas, a ruing t Slides 19693 Bc HOMO Plat Argurus) Tarrant Vueoly, Reservations .from and Exceptions to Conveym subject to any and all restrictions, mineral reservations and other governmental zoning laws, regulations atyA herein described property. and other good end valuable consideration and the further principal amount of One Hundred Twenty Four Thousand 36.00) and is executed by Grantee, payable to the order of . rc od in favor of NTFN; Ina, in this deed and by a deed an s, Jr., Trustee. To the extent Grantor owns the oil, gas a mb Property, Grantor specifically reserves the Mineral RJgl his f excepts such Mineral Rights from the conveyance here"ut-C Mineral rights includes by its terms all oil, gas and any other to Grantor that portion of the purchase price of the vendor's lien and suportor title to the property arc Grantor, for the consideration and subject to the' o ere warranty, grants, sells, and conveys to Grantee the prope � appurtenances thereto in any wise belonging to have an ho] administrators, successors, or assigns forever. Grantor bGr inds to: and successors to warrant and forever defend all and singular the pro administrators, successors, and assigns against every person whomsi any part thereof, except as to the reservations from and exceptions to Sierra Vista, ae addltloa to the City of Plat thereof recorded in Cabinet A. The vendor's Tien against and superior title to the property a red' paid according to its terms, at which time this deed shall become absol o. ] and request of the Grantee herein, having advanced and paid fn cash t purchase price of the herein described property as is evidenced by the hen Lion, together with the Superior'fitle to said property, is retained herein for t are hereby TRANSFERRED AND ASSIGNED to said Lender, Its successors Grantee assumes payment of all taxes for current d-ad subsequent years. When tho context requires, singular nouns and pronouns include the befoFe me on file , 0te After Recordip�, Return to: Joseph Davis and Marie Aavis 1525 Cheme Drive Fort Worth, T'X 76 L 19 is given and accepted easements, municipal County, affecting the and under the ral Rtghfs'h on, in, 's hoir, executor, and assigns and es that Grantor's reservation of the under the Property conveyed. and exceptions to conveyance and 1f all and singular the rights and q Grantee's heirs, executor, or's ears, executors, administrators, �11t,ee d Grantee's heirs, executor, I a ine or to claim the some or note desati$ed i9 folly :ndcr"), a[ the instance that portion of the e note, the Vendor's d Bender and the same arrant Appraisal Real Estate 07117/2009 Account Number: 40950948 Georeference: 38586-F-28 Property Location: 1525 Chama Dr, Fort Worth Owner Information: Davis, Joseph Etux Marie 1525 Chama Dr Fort Worth Tx 76119-0000 2 Prior Owners Legal Description: Sierra Vista Addition Blk F Lot 28 Taxing Jurisdictions: 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 information 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. Proposed Values for Tax Year 2009 Land Impr 2009 Total** Market Value $20,000 $97,900 $117,900 Appraised Value * $20,000 $97,900 $117,900 Approximate Size *** 2,320 .and Acres 000000 _SgFt ---- ___��___� Appraised value may be less than market value due to state -mandated limitations on value increases A zero value indicates that the property record has not yet been completed for the indicated tax year Rounded 5-Year Value History Tax Yea�XMPT _ Appraised Land Appraised lmpr Appraised Total Market Landr Market Impr :.Market Total.. 2008 00 �� $20,000 $104,100 $124,100 $20,000 $104,100 $124,100 J- i 2007 l $253000_ $103,400 $128,400_ $25,000 $1032400 $128,400 1000 200, 000 � $5,000L $0� $5,001v $5,000� $0 $5,000 2009 Notice Sent: 04/30/2009 Exemptions: General Homestead Property Data Deed Date: 12/15/2008 Instrument: D208465367 Year Built: 2006 Pct Complete: 100 TAD Map: 2054 376 MAPSCO: 077Y Agent: None Protest Deadline: 06/01 /2009 Class: 006 State Code: Al Single Family Garage Bays: 02 Central Air: Y Central Heat: Y Pool: N