HomeMy WebLinkAboutContract 39288-CA1CITY SECRETARY
CQNTRACT No. - C
ASSIGNMENT OF TAX ABATEMENT AGREEMENT
This Assignment of Tax Abatement Agreement is made and entered into
by and between Julie Truong, ("Assignor") and Diaina Truong, ("Assignee") and the City
of Fort Worth, ("City")
RECITALS
A. Waterview Estates, L.P., Pars Investment, Inc., General Partner ("Waterview")
and the City of Fort Worth, Texas (the "City") entered into that certain Tax
Abatement Agreement ("Agreement") for Property Located 5409 Grenada Drive ;
Lot 33; Block 1; Waterfront at Enchanted Bay; an Addition to the City of Fort
Worth, Tarrant County, Texas, according to the plat recorded and filed in Cabinet
A; Slide No. 11723, Plat Records, Tarrant County, Texas ("Property") which is
located in the Lake Arlington Neighborhood Empowerment Zone, such
Agreement approved by the City Council of Fort Worth November 6, 2007, City
Secretary Contract Number 36961 ("Agreement"):
B. Pursuant to that certain Special Warranty Deed dated as of 12/06/2007, recorded
under Tarrant County Deed Records, Waterview 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 Waterview to assign all of its rights under the
Agreement to Woodhaven Custom Homes, L.L.C. ("Woodhaven"), without
obtaining the prior consent of the City Council:
D. Waterview assigned the Agreement to Woodhaven Assignor; such Agreement is
dated 12/06/2007 City Secretary Contract Number 38725.
E. Woodhaven assigned the Agreement to Julie Truong Assignor; such Agreement is
dated 02/29/2008 City Secretary Contract Number 39288.
F. Pursuant to that certain Special Warranty Deed dated as of 04/14/2010, recorded
under Tarrant County Deed Records, Assignor conveyed the Property to Diaina
Truong and Assignee acquired title to the real property which is the subject of the
Agreement.
G. 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:
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OFFICIA! RECORD
CITY SECRETARY
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. 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 04/14/2010 ("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 11059 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. Rye resentations. 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.
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CITY OF FORT WORTH:
City of Fort Worth
Housing & Economic Development Department
Neighborhood Empowerment Zone Program
1000 Throcle morton
Fort Worth, Texas 76102
ASSIGNOR:
Julie Truong
6701 Ijaz Drive
Arlington, Texas 760174975
ASSIGNEE:
Diaina Truong
5409 Grenada Drive
Fort Worth, Texas 761194500
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: Julie Truong
Signature:
ASSIGNEE: Diaina Truong
Signatu:
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CITY OF FORT WORTH
Susan is
Assistant City Manager
ATTEST:
Marty Hendrix, City
APPROVED AS TO FORM AND LEGALITY:
Charlene Sanders
Assistant City Attorney
M & C: C-22514
OFFICIAL RECORD
CITY SECRETARY
I✓ r. WORTH TX
GI
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, on this day personally appeared Susan
Alanis 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 she 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 she 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
20110
Notary Public in and for
the State of Texas
rJNDA M. HIRRLINGER
MY COMMISSION EXPIRES
Februarys 2, 2014
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STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, on this day personally appeared Julie Truong,
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.
UNDER MY HAND AND SEAL OF OFFICE this (� day of
2011.
Notary Public in and
the State of Texas
r
'- r STATE .t
. 0.
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, on this day personally appeared Diaina Truong,
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.
� SEAL OF OFFICE this
the State of Texas
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my Comm. 1. O5w2&1-