HomeMy WebLinkAboutContract 38973ASSIGNMENT OF TAX ABATEMENT AGREEMENT
This Assignment of Tax Abatement Agreement is made and
by and between HMH Lifestyles, L.P., ("Assignor") and Leonard Locks,
and the City of Fort Worth, ("City")
A.
RECITALS
entered into
("Assignee")
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
1409 Sierra Estate Trail, Lot 32 , in Block A of SIERRA VISTA; an addition to
("Property") which is located in the
Empowerment Zone, such Agreement approved by t
Worth February 21, 2006, City Secretary Contract
("Agreement"),
Rolling Hills Neighborhood
he City Council of Fort
Number _ �
B. Pursuant to that certain Special Warranty Deed dated as of January 22, 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 January 22,2008 City Secretary Contract Number
E. Pursuant to that certain Special Warranty Deed dated as of August 8, 2008,
recorded under Tarrant County Deed Records, Assignor conveyed the Property to
Leonard Locks 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:
RECOR[�
�ITY SECRETARY
WORTH.,
T
1
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 August 8, 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. 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. Cites 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:
Leonard Locks
1409 Sierra Estate Trail
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 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.
4anis
Title: anet Lewis
ry
3
ASSIGNEE: Purchaser Name
Name: /4�
CITY OF FORT WORTH
T.M. Higgins
Assistant City Manager
ATTEST:
APPROVED AS TO FORM AND LEGALITY:
Assistant City Attorney
M & C: C-21313
�f=FICfAL RECORD
CITY SECRETARY
WORTH,
0
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 AND SEAL OF OFFICE this day of
, 2009.
Notary Public in and for
the State of Texas
5
STATE OF TEXAS §
COUNTY OF TARRANT §
FO E, the dersi ned authority, on this day personally appeared
of HMH Lifestyles, L.P., a Texas limited
partnership, known to me to bete 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.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this day of
2008.
Notary Public ii� and
the State of Texas
STATE OF TEXAS §
COUNTY OF TARRANT §
JODI JENSEN
IUotary Public, State of Texas
My Commission Expires
June 12, 2010
BEFORE ME, the undersigned authority, on this day personally appeared Leonard Locks,
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 H D AND SEAL OF OFFICE this _8 day of August,
1 LL�
TINA M. ESTEP
play 20, 2009
Notary Public in and for _--=- ----.�—r�-%
the State of Texas
Electronically Recorded
Official Public Records
Grantor. HMLf Lifestyles,
Grantor's Mailing Address
Grantee: Leonard Locke, a
Grantee's Mnilhtg Address
Consideration: TEN AND
consideration of a note dated of evt
Eighty Eight and No/100'" Dollars(l
Corporation. The note is secured in
deed and by a deed of trust of even c
D2U0414036
?,L,ITY RICrI-ITS: TF'YOU ARE A NATURAL PERSON, YOU
ANY OR ALL OF THE FOLLOWING INFORMATION FROM
RANSFERS AN INTEREST IN REAL PROPERTY BEFORE
THE PUBLIC RECORDS: YOUR SOCIAL SECURITY
O YOUR DRIVER'S LICENSE NUMBER
WITH
Realty Mortgage Corporation,
purchase price of the property that is es
the property are retained fur the benefit
VENDOR'S LIEN
Airport Free�vay,Suite 400, Nortb Richland Hills,'I7C 76180
Property (including any improvemenu): Lot
Fort Worth, Tarrant County, Texas, according
Slides 10693 & 10694, Plat Records, Tarrant Count
Reservations
from and Exceptions to
subject to any and all restrictions, mineral res
and other governmental r�ning laws, regulati
herein described property.
Grantor,
�(er good and valuable consideration and the further
amovne of Ninety Nine Thousand 7Wo Hundred
y Grantee, payable to the order of Realty Mortgage
load in favor of Realty Mortgage Corporation in this
to Eldon L. Youngblood, Trustee.
for the ooiisidefSE'idfi and Sllbjl:Cf to ltl0 f@S® 8ti0 II
warranty, grants, sells, and convoys to Grantee lire props to ether
appurtenances thereto in any wise belonging to have and hoJ it
administrators, successors, or assigns forever, Grantor binds Gr ntor C
and successors to warrant and forever defend all and singular the roperty h
administrators, successors, and assigns against every person who
any part thereof, except as to the reservations from mid exceptions to coney,
The vendor's lien against and superior title to the prop orty ar re
paid according to its terms, at which time this deed shall become absolut . i
ac the irtstance and request of the Grantee herein, having advanced and at,
of the purchase price of the herein described property al is evidence
Vendor's Lien, together with the superior Title to said property, is retained
the same are hereby TRANSFERRED AND ASSIGNED to said Lender, Its
in cash to Grantor that portion of the
i, the vondor's lien and superior title to
out recourse on Grantor.
r Vista,
an addition to
the City
of
thereof
recorded in
Cabinet
A,
This conveyance is given and accepted
ins, righu-of--way, casements, municipal
gF record in said County, affecting the
Grantee assumes payment of all taxes for current and subsequent years.
When the context requires, singular nouns and pronouns include the pit
delmowledg€d bgforo ma on the
After Recording, Renrrn lo:
LevnaN Locks
I409 Sierra Estate Trail
Port �Vorth,'f'X 9€l14
d exceptions to conveyance and
all and sirtgvlar the righu and
tee, Grantee's heirs, executors,
s heirs, executors, administrators,
d Grantee's hetrs, executors,
cla' 'nx or to claim the same or
note described is tally
orpora[lon ("Lender"),
r ar herpethe
oscribed ibnote,
the
nt of said Lender and
arrant Appraisal
Real Estate
07/17/2009
Account Number: 40949044
Georeference: 38586-A-32
Property Location: 1409 Sierra Estate Tr, Fort Worth
Owner Information: Locks, Leonard
1409 Sierra Estate Trl
Fort Worth Tx 76119-2663
2 Prior Owners
Legal Description: Sierra Vista Addition
Blk A Lot 32
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 canted in TAD's database,
Pr000sed Values for Tax Year 2009
_Land Impr 2009 Total*'"
Market Value _ $20,000 $71,600 _ $9100
Appraised Value * - $203000 $71,600 �$91,600
Approximate Size **1,520
.and Acres 0.0000
.and SgFt�______ --� �0
wised 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 Year XMPT Appraised Land Appraised Impr Appraised Tota� Market Land Market Impr Market Total
2008 .! 00o J _ $16,500� _ $0 $16,500 $16,500 d $0 $16,50
2007 ! 000 $16,500� $ _ $I6,500�_ _ $16,500� $0 _ $16750
2006 I 000
2009 Notice Sent: 04/30/2009
Exemptions: None
Property Data
Year Built: 2008
Pct Complete: 100
TAD Map: 2054 376
MAPSCO: 077Y
Agent: None
Protest DMines 06/01/2009
Class: 006
State Code: Al Single Family
Garage Bays: 01
Central Air: Y
Central Heat: Y
Pool: N