HomeMy WebLinkAboutContract 38957ry
CAN RA CHT &
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ASSIGNMENT VX TAX ABATEMENT AGREEMENT
This Assignment of Tax Abatement Agreement is made and entered into
by and between Sierra Vista, L.P., Vertex Investments, General Partner ("Assignor") and
HMH Lifestyles, L.P., ("Assignee") and the City of Fort Worth, ("City")
RECITALS
A. Assignor and the City of Fort Worth, Texas {the "City") are parties to that certain
Tax Abatement Agreement ("Agreement") for Property Located 1425
Montoya Lane •?vhich is. located in the Rolling Hills
Neighborhood Empowerment Zone, such Agreement dated City
Secretary Contract Number O "Agreement").
B. Pursuant to that certain. Special Warranty Deed, dated as of
`June 2, 2009 , recorded under Tarrant County Deed Records, Assignee
acquired title to the real property, which is the subject of the Agreement.
C. Section 5 of the Agreement permits Assignor to assign all of its tights under the
Agreement to HMH Lifestyles, L.P. without obtaining the prior consent of the
City Council.
D. In order to evidence the assignment referred to above, Assignor agrees to make
the conveyance to Assignee as herein set forth.
AGREEMENT
NOW THEREFORE, in consideration of the mutual terms and conditions herein
contained and other good and valuable consideration, the receipt and sufficiency ofwhich
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
("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.
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
1
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 .finther 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 parry 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 Department {NEZ)
1000 Throckmorton
Fort Worth, Texas 76102
ASSIGNOR:
Sierra Vista, L.P.
Vertex Investments, General Partner
3715 Camp Bowie Blvd.
Fort Worth, TX 76107
ASSIGNEE:
HMH Lifestyles, L_P.
9001 Airport Freeway, Suite 400
North Richland Hills, TX 75180
2
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.
l0. 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: Sierra Vista, L.P., Vertex Investments, General Partner
ASSIGNEE: HMH Lifestyles, L.P.
Name:
Title: T asurer
CITY OF FORT WORTH
T.M. Higgins
Assistant City Manager
OFFICIAL RECORa
CITY S�CR�TARY
FT. WORTH! TX
3
8. Successors. Except as herein otherwise provided, ibis 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 fizlly-binding on the parties so
executing; and all such counterparts together constitute one and the same
agreement.
1 d. Binding_ Offer. This Assignment will be not be binding until executed and
delivered by all three parties.
II�T WITNESS WHEREOF, the parties have executed this Assignment as of the
date first above written.
ASSIGNOR: Sierra Vista, L.P., Vertex Investments, General Partner
Nance: Dear
Title: Presi
GHEE: IiN1.l-I Lifestyles, L.P.
Name: M-i rhg�� Reig"j��
Title: Treasurer --�
OFFICIAL RECORD
CITY SECRI:TARI�
FT. WORTH, TX
3
ATTEST:
City Secretary
APPROVED AS TO FORM AND LEGALITY:
Charlene Sanders
Assistant City Attorney
M & C: C-21313
OiTX S�CCR�TAR1�
To WORTK 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 §
BEFORE ME, the undersigned authority, on this day personally appeared Deanna Boaz,
President of Sierra Vista, L.P., Vertex Investments, General Partner, known to me to be
the person whose name is subscribed to the foregoing instrument, and acknowledged to
one 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 Sierra Vista, L.P., Vertex
Investments, General Partner.
GIVEN UNDER MY HAND .AND SEAL OF OFFICE this / day of
2007
Notary Public in and for
the State of Texas
STATE OF TEXAS §
COUNTY OF TA.RRANT §
,� Notary Public, State of Texas
'�� My Commission Expires
BEFORE ME, the undersigned authority, on this day personally eared
Michelle Rei�1e Treasurer of HMH Lifestyles L.P., a Xas limited
partnership, laiowxz to me to be the person whose name is subsc To the foregoing
instrument, and acknowledged tv me that he executed e for the purposes and
consideration Therein expressed, in the capacity the stated and as the act and deed of
the HMH Lifestyles, L.P., a Texas limited p rship.
GIVEN UNDER MY AND SEAL OF OFFICE this day of
in and for
State of Texas
G
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE IVIE, the undersigned authority, on this day personally ap ed Deanna Boaz,
President of Sierra Vista, L.P., Vertex Investments, General P ez, known to me to be
the person whose name is subscribed to the foregoing ins ent, and acknowledged to
me that he executed the same for the purposes and co eration therein expressed, in the
capacity therein stated. and as the act and of the Sierra Vista, L.P., Vertex
Investuzen#s, General Partnez.
200 7
Notary P c in and for
the e of Texas
STATE OF TEXAS §
COUNTY OF TARRANT §
AND SEAL OF OFFICE this day of
BEFORE IYIE, the undersigned authority, on this day personally appeared
Michelle Reigle Treasurer of H[Vli Lifestyles L.P., a Texas limited
partnership, 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.
GIVEN
UNDER MY HAND AND
►(1 � , 2007 :�(.�C� j .
Notary Public in and for
the Sta#e of Texas
p NAp MARTINDALE
Notary Public, State of Texas
My Commission Expires
June 19, 2011
SEAL OF OFFICE this ._:'� � day of
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Electronically Recorded
a
uzann,nne Henderson
Tarrant County Texas
141 14a tr CbUhty 1 uAtm
2009 �oiaM
Suoaj"b aNDATA
5ubmiEter: IANDATA
D2MOB] 72772
OF CONFIDEN n7' 41 Unr g)UGT3TS: IF YOU .ARE .A. NATURAL PERSON,
�Y REMOVE OR STR ALL OR ANY OF TEE FOLLOWING
AORDS*
M TH(S INSTRUMENT BEFORE IT IS SLED FOR RECOFD IN
YOUR SOCIAL SECURITY NUMBER OR YOUR
Grantor: ist
Grantor's M a A. 1
Grantee: HMH Li
Grantee's Mai1YnDAdclre$
CORRECTION
sUN� a, zao9
.�. Texas limited partnership•
Sowle Boulevard
Ta Tent County, Texas 76107
,��'ca�s li�atitedlrarhnership
1 1 _ a .all 1 11 ... • � : r : • i
�--a -taWIMMIN . . II al �a-a • .I •t
, Suite 444
Tarrant County, Texas 7180
to the nndersig�.ed paid by Grasrkee
e AwEam oopsideration of Lae
se Doe of the Property, includedin
end able o the order of %)V lea &6 Le 3s eras Bank
ed a ern. a ote zs secnxed by a fist and i`1/41/a
ce) d anor title retfted in this Legacy Bank of
efromGr ��ltt�a+Tn�sfee(s) Texas
an R. Ail iams and/or Audrey A-. **
Pznpeziy {including any impro�emenis): The
�+ �xT "A". attached ]�eFeto.
M• - a l l 1 11 1. 1 k 1 1 1 / 1• 1
ertain mattoza set out an a: NattachedhereU
esignated as "Yermitted Exceptions".
of the lots set out in
For the same Consideration, Ch=tor hereby GRANTS, AI
CONVEYS, wztlzout wa*ranty cxpress oz i�oplied, all inierest, i� Guy, f
gores, if any, between the Property and abutting propmlies; (ii) any lama lyinb
of any street, alley, road or right -of way, open or pxoposed, abui�g oz aj
to the centerline thereof; ana (iiii) any and all easements, rights, p
hereditaments and appurtewnc-es there tto now ox hereafter beJ.onging or
OR
Property (without any conveyance of the minerals but with any smwe
controlled by Grantor).
** Duncan as
County: TARRANT Doc: DOD746385 Date: 06103I2D09 Vot: 0000000 Page: OOODO
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Grantor•
Siena Vista, L.I'.,
e Texas limited ua
By:
I. •:1. �1 . r- Y.-
STATE QF ��
! t Y q :S I 1 f - � i • L i- r r- • t
.r. u / 1. 1 ur !1 • /. ! 1 !. n /
%IlYIH Lifestyies, L.P.
Atha: Michele Rei;ie
9401.E*\�Vort Freeway, Suite 400
l4orth Richland Hills, Texas 75180
County: TARRANT Doc: 000146385 Date: 06/03/2009 Vvi: pOpODOD Page: DDODO
aBosz,'VZce
Sierra Vista,
i
i
oc F, of Vista, an addition to the City of Fort Worth, TaxIrant County, Texas, accoxdiWS to the
thereo din Cabinet.A, Slides 10693 & 10694, Plat Records, Tarrant County, Tens,
t
t _
{
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County: TARRANT Doc: 000146386 Date: 06/0312009 Vol: 0000000 Page: 00000
7
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a of
The
EX{71IB(1 "9z
the Exclusions and Conditions'and Stipulations, your policywill not cover loss, costs, attorney's fees and
ultina from:
res#rfotive eevenanfs of record itemized below (VUe must either irrserfi specitlo recording da#a or
if ,lone or,
2. A scrap as, con ot',
overia Ftshs-`
3. Homest
Owner Pali
4. Any tilles o
or other entitles,
a. to tidelands, la
gulfs, or ocean or
b. to lands beyond fhe 1! Of
c, to filied-in lands, or arUrl
.b205360I9t; Clerlc's�lleNa. A207t)6S8'74; Clerk'sFile�i'o. D207106760; Clerk'sFiieNo.
Records; Cabinet A, Slides 10693 & 10694, Flat Records, Taxrxnt County, Texas, (Provisions,
zbligion, sex, handicap, familial staters or national origin are uulliixed )
d. #a statutorywater tights,
Iri Brea or boundary 11nes, A ar any
or survivorship rights, tinny, of anyspause of anylnsured, (Applies to the
but not limited ta, persons, the public, corporations, governments
or beds of navigable or perennial fivers and streams, lakes, bays,
ti�'ftar� ot�lkhead Lines as established ar changed by any government, or
e, to the area extendingfrom fhe
area or easement along and a
(Applies to the Owner Policy only.)
ar,r�
to the line of vegetation, or the rights of access to that
Slandbyfees, taxes and assessments by any taxtn thori r t e
subsequent taxes and assessments by any taxi aufho ' for p ' r
ownership but not those taxes or assessments prio ear caul
owner of the property under Section 11,13, Texas ax C , or b
previous.taxyear. (If Texas Short Form Residents ortgag
Policy will substitute "which become due and payable s qu to
and subsequent years."} Schedule B, Item 5, may be amen
assessments by any taxing authority for prior years due to a in
Company insures that standby fees, taxes and assmirie by
due and payable.' (Mortgage Policy only or Interim Constru Bi
premium)
2D09 and subsequerrtyears, and
due to change in land usage ar
an exemption granted to a previous
of Improvements not assessed far a
if<e Insurance (T-21R) is issued, that
>a of Policy° In lieu of °for the year 2009
th words "and subsequent taxes and
u ge or awnership." AND to add
a city for the year 2009 are not yet
y, upon quest and payment of
6. The Terms and conditions of the documents creating your interest in a lei
7. Materiais fumished or labor perrormed in connection with planned o0
lien document described in Saheduls A, if the land is part of the homestead
Mortgagee Title Popsy Binder on Interim Construction Loan only, and may t
before a binder is issued.)
8. Liens and leases that affect the title to the land, but that are subordinate to the
(Applies to Mortgagee (T 2} Policy only.) •
9_ The Exceptions from Coverage and F,xprass Insurance In Schedule B of the Texas Short F
Mortgagee PoElcyofTlde insurance (T-2R). (Applies to Texas SharY Farm Residential Mors
Insurance (T 2R) only. Separate exceptions 1 through 8 of this Schedule B do not applyta
Residential Mortgagee Policy of Title Insurance (T-2R)
delivering the
to fhe
+evidence to us
to
County: TARRANT Doc: 000146386 Date: 06/03/2009 Vol: 0000000 Fage: 00000 '�9
faBowing matters and all terms of the documents creating or offering avidence of fMe matters (We must insert
era or delete this exception)t
of Parties in Possession (OWNER'S IoDLfGY ONLY)
as s iown onplat recorded In Calrinet A, Sides 10693 3c 10694, platltecoxds, Tarrant Gauaty, �exssl
of Way JaL J Merida Etfis jjQ Tar:as fiteotrio Service 11I. ny, dated Ivlarrlr 6, If tiled
;d in'Voiume 3094, Wage 2361ilteal Prope*Reaords, Ta=t County, Texas.
It :il
•Ill;OffirIIII
• , 1 fie
'nw a1a c�s �
a11'
1 . • , • - 1 I .: I Il I •111 : • : i - • • a - - . ..
1 it 1 -- 1 - • \'I u \ n' ••v - \ I.•
111111 IN
as :f1 f1 • T wn . :1�'.7 •�: , • • rr:>>:n - -- I•r: •u>.u► '• •r
F IV 1 • 1 - IIr. 1 • 1• - :f1 • 14' a� • T f1• •• - 9 .. 11 ad 1 1 : \
k. lviasral Dead dated November 7, 2005, died Novi
Reset 1'artaers, L,.P., recorded � Ciexk's Pile No.
Companyurakes no rapreseatation as to the present
recorded io ClQ&§ No No, D205348099, Rost Pro
t
ii: �i•: _ ..-i Its`i FYI
rt, Terms, conditions, nmAsions and stipulations of Coxuplianoe Agreaarent, by�an
Code CvmplianceDivision,rwo TrinityC�acdens, lzie., Tenant CouctyAfforda'b
Cxardaos, Inc,, dated 7nno 5,1998, Red 7usre 12,1998, recorded in Volume 13264,
Tarrant County, Texas.
o, Annual and Speoial Assessments and/or Maintenance Charge for Capital
D207085874, oFihe�*Reai PropertyReeords •oFTanszrt County, Texas, (OTPBig 0
1 1 . i1 � � .. • . : I
County: TARRANi Doc: 00094ti385 Date: 06/03(2009 Vol: 0000000 Aage: 00000
�1'orth Texas
d One Trinity
�rtyReacrds,
in C1egl:'s �jle NO
sustained by the insured zmder the tezms of the Foiiay ifihis item is not stt6oxdiAaW W the lien of the insured inortgaga.
(MTP only}
IS BEING RERECORDED TO CORRECT THE NAME OF THE'LENDER
1ATIN THE.VENDOR'S LIEN AND 'FOR NO OTHER REASON. THE
NS THE SAME:
ti
County: TARRANT Doc: 000146385 date: 06/03/2009 Vol: 0000000 Page: 00000
Tarrant Appraisal District
Real Estate
07/1 I I2009
Account Number: 40950743
Georeference: 38586-F40
Property Location: 1425 Montoya Ln, Fort Worth
Owner Information: Hmh Lifestyles LP
1 Prior Owner
Legal Description:
Taxing Jurisdictions:
9001 Airport Fwy Ste 400
North Richland Hills Tx 76180-9128
Sierra
Bl
Vista Addition
k F Lot 10
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.
PrnnnSPd Values for Tax Year 2009
Land
Impr
2009 Total**
Market Value
$20,000
$0
$203000
Appraised Value *
$14,800 J
Approximate Size ***
0
.and Acres
0.1629
Land SgFt
7,099
_
Appraised value may be less than marKer value aue ru I I I I I I ta,I � I I�
increases
A zero value indicates that the property record has not yet been completed for the indicated tax year
"*Rounded
r,_Yuar Value History
Taxes— Yeah XMPT
2008 000
Appraised Land
$16,500
Appraised Impr
$0
Appraised Total
$16,500
Market Land
$]6,500
Market Impr
Market Total
$0
$16,500
2007 000
$16,500
$0
$167500
$16,500
$0
$M500
2006 _000
$5,000
$0
$5,000
_ $5,000
$0
$5,000
2009 Notice Sent: O5/22/2009
Exemptions: None
Property Data
Deed Date: 06/02/2009
Instrument: D209172772
Year Built: 0000
Pct Complete: 100
TAD Map: 2054 376
MAPSCO: 077Y
Agent: None
Protest Deadline: 06/22/2009 Protest 1,11ed
Class: 000
State Code: O1 Vacant Inventory
Garage Bays: 00
Central Air: N
Central Heat: N
Pool: N