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HomeMy WebLinkAboutContract 38960ASSIGNMENT OF TAX ABATEMENT AGREEMENT This Assignment of Tax Abatement Agreement i ms made and entered into by and between HMH Lifestyles, L.P., ("Assignor") and Diggett Halliburton ("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 2928 Pima Lane, Lot 57, 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 ("Property") which Empowerment Zone, such Agreement approved by the City Cou Worth February 21, 2007, City Secretary Contract ("Agreement"), Rolling Neighborhood ncil of Fort Number B. Pursuant to that certain Special Warranty Deed dated as of 4/10/07 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 4/10/0 / City Secretary Contract Number �aLai al E. Pursuant to that certain Special Warranty Deed dated as of � �' —, 2008 recorded under Tarrant County Deed Records, Assignor conveyed the Property to Diggett Halliburton 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: 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. Ass i ng ment. 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 Dat" e). 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: Diggett Halliburton ?928 Pima Lane Fort Worth, Tx 76119 ASSIGNOR: HMH Lifestyles, L.P. 9001 Airport Freeway, Suite 400 North Richland Hills, TX 75180 8. Successors. Except as herein otherwise provided, upon and inure to the benefit of the parties, and administrators, successors and assigns. 9. Counterparts. This Assignment may be executed which, once executed, will be an original and executing; and all such counterparts together agreement. this Assignment will be binding their respective heirs, executors, in multiple counterparts, each of fully -binding on the parties so constitute one and the same 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: 3 ` " Diggett Halliburton CITY OF FORT WORTH T.M. Higgins jv Assistant City Manager ATTEST: City Secretary APPROVED AS TO FORM AND LEGALITY: Charlene Sanders Assistant City Attorney M & C: C-21313 a �7FFICtAL RECCRn ;PTY SECRETARYT. !� ORTH, 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 § B FORE 1\ E, the undersigned authority, on this day personally appeared 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. GIVEN UNDER MY HAND AND SEAL OF OFFICE this Sth day of May, 2008. Notary Public in and for the State of Texas STATE OF TEXAS § COUNTY OF TARRANT § lrii�P�VPyp(gnt MNRIF Il�t7G_� *'s*} NOTARY PUBLIC State of Texas ' 4 2F;; `!G Comm. Exp. 06-23-2010 *mo BEFORE ME, the undersigned authority, on this day personally appeared Diggett Halliburton 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. in and for the State of Texas MY HAND AND SEAL OF OFFICE this 5 day of May, 2008. t gRiTANY WITTER Xk�ii� Notary rugl}o, State of Toxas my COMMI talon Expires 'N;9 ii`� 111 J 812010 Electronically Recorded Official Public Records r Suzanne Henderson Tarrant County Texas 2008 May 06 01:41 PM Submitter: L NDATA D208165971 RICEITS: IF YOU ARL A NATURAL PERSON, YOU MAY AL1j'OF THE FOLLOWING INFORMATION FROM ANY RS'AN INTEREST IN REAL PROPERTY BEFORE IT IS ILIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR D UVEW S LICENSE NUMBER WARR�tN�'Y Dl WY'�}iC_ TItST AND STCOND VENDOR'S �.IEN Date: May 12 2008 Grantor: Hl5'M Lifestyles, L.P, .r Orantor's Mailing Address (Inc Ing c my 0 Airport Freeway, Suite 400, North Richland Hills, TX76180 Grantee: Dlggett Hallibnrton, a gl o Grantee's Mailing Address (includin county): 9 P' a Lan Fort Worth, TX 76119 Consideration: TEN AND N 10 OL R and o at good and valuable consideration and the fltrther consideration of a note dated of ev du that '' -1 he pr' cipal amount of Seventy Eight Thousand Ninety and No/100th Dollars ($781090.0D) and is a cute y antee ayable to the order of NTFN, Inc. The note is secured in part by a vendor's lien retained In favor f Inc, i his deed and by a deed of trust of oven date herewith, from Grantee to George M. Shanks, Jr., Trustee. 0 o And for the further consideration of a ovation and dolt y b Grantee of a note dated of even date that is in the principal amount of Foutteen Thousand a Hundred Nine Inc a Noll0e Dollars ($14,999.00), payable to City of Fart Worth, Tcx&51 a5 lhmilla provided, find grgyid' for acceler:on of maturity upon default and attorney fees, and further providing that should default be made in paym f the described note above, or in any of the covenants of the Deed of Trust securing the same, the in tedn ev' once by the second described note shall, at the option of the holder thereof, at once become due and yable, id no lot g secured by a subordinate Vendor's Lien hereby expressly retained and reserved upon the prop rty he des ed a d conveyed, and being additionally secured by a subordinate Deed of Trust of even date herewith Vic "S, nske, steel P. Property (including any Improvements): Lot S , in Block Af S RRA VISTA, an addition to the City of Fort Worth, Tarrant County, Texas, according the or t thereof recorded In Cabinet A, Slides 10693 & 10694, Pint Records, Tarrant Ciiunty, Texas, Reservations from and Exceptions to.Conveyance an we conveyance is given and accepted subject to any and all restrictions, reservadons„_covenants, con itio SITS,,ts,o -way, easements, municipal and other governmental zoning laws, regulations and ordmi tuices, if any, roc sai County, affecting the herein described propel Grantor, for the consideration and subjgel to the reservations fro d ex do to conveyance and warranty, grants, sells, and conveys to Grantee the property, together with all and at gul he. gh and appurtenances thereto in any wise belonging, to have and hold it to Grentee,.Grantee's heirs, cut ,s, a ini tors, successors, or assigns forever. Grantor binds Grantor and Grantor's lie". executors, adminis at ;and ass ra to warrant and forever detend all and singular the property to Grantee ; ifd Gi6ntw's heiFa, cR -bits, it ini m weeessttrs, and assigns, against every person whomsoever lawfully claiming or to claim the me or any art th roof, except as to the reservations from and exceptions to conveyance and warranty. Thu Vendor's Liens and Superior Title: herein retained are hereby trans rm ssi d, s d and conveyed to NTFN, Inc., it successors and assigns. Grantor and Grantee also acknowledgeahe retention of a second, subor. and e v dor's lien, and Grantor hereby transfers the same to CITY OF FORT WORTH, hereinafter called ` EC EFICIARY", which lien secures, Grantees certain other note of even date to SECOND LIEN F IARY in t amount of $141999.00, loing further consideration paid to Grantor, us more particularly described ' doe st f even dale herewith to VICKI 5, GANSKE, TRUSTEE, But it is expressly agreed and stipulated t}t the v do lien nd superior title are retained in favor of the FIRST -LIEN 13ENEWFICIARY and SECOND -LIEN F IARY, res ctively, against the above described property,.premiscs and, improvements, until each of the above es ctive is ly paid according to its terms, when this deed shall become e, bsoluto. Grantee assumes payment of all taxes for current and subsegrent years. When the context requires, shigular nouns and pronouns include the plural. f OF TEXAS § YOF Akh_ is Strome of acknowledged before me on the day' f I' r l 2008 by the of HMH Lifestyles, beef of said limited partnership. After R or Aggett no 2928 Pima i Fort worth, o ary blic, State of Texas ReNJ�% • ry IP�Py � o�` rig 6 ti arrant Appraisal District -al Estate 07/17/2009 Account Number: 40949311 Georeference: 38586-A-57 Property Location: 2928 Pima Ln, Fort Worth Owner Information: Halliburton, Diggett 2928 Pima Ln Fort Worth Tx 76119-2656 2 Prior Owners Legal Description: Sierra Vista Addition Blk A Lot 57 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 cornplete status of the account as actually carried in TAD's database. Prnnnsed Values for Tax Year 2009 Land Impr 2009 Total" Market Value $20,000 $82,800 Appraised Value * $20,000 _$62,800 $62,800 $82,800 Approximate Size** 15290 .and Acres 0.0000 .and SgFt 0 Appraised value may be less than market value due to scare-manoaieu unmauuna ul, valu� increases A zero value indicates that the prope ty record has not yet been completed for the indicated tax year Rounded 5-Year Value History Tax Yea XMPT Appraised Land Appraised Impr Appraised Total Market Land Market Impr Market Total ��- 2008 000 1� $16,200 $0 $16,200 $16,200 $0 $16,200 2007 1000 $20,250 $0 $20,250 $20,250 $0 $20,250 2006 000 2 6 ---- --- $5,000 $0 $5,000 $5,000 $0 $5,000 2009 Notice Sent: 04/30/2009 Exemptions: General Homestead Property Data Deed Date: 05/01/2008 Instrument: D208165971 Year Built: 2008 Pct Complete: 100 TAD Map: 2054 376 MAPSCO: 077Y Agent: None Protest Deadline: 06/01/2009 Class: 006 State Code: Al Garage Bays: 01 Central Air: Y Central Heat: Y Pool: N Single Family