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HomeMy WebLinkAboutContract 39289�o � �� �RErARI� rt�o ASSIGNMENT OF TAX ABATEMENT AGREEMENT This Assignment of Tax Abatement Agreement is made and entered into by and between Woodhaven Custom Homes, L.L.C., ("Assignor") and Wenju Weng_and Michael Hurt, ("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 5425 Grenada Drive ; Lot 29; 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 36971 ("Agreement"): B. Pursuant to that certain Special Warranty Deed dated as of 06/04/2008 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 06/04/2008 City Secretary Contract Number E. Pursuant to that certain Special Warranty Deed dated as of 11124/2008, recorded under Tarrant County Deed Records, Assignor conveyed the Property to Wenju Weng and Michael Hurt 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: 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: OFFICIAL RECOR® 1 1I SECRETARY 7, WORTH, Tx 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 11/24/2008 ("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. 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. CITY OF FORT WORTH: City of Fort Worth Housing &Economic Development Department Neighborhood Empowerment Zone Program 1000 Throckmorton Fort Worth, Texas 76102 ASSIGNOR: Woodhaven Custom Homes, L.L.C. 1221NI35E Carrollton, Texas 75006 ASSIGNEE: Weng Wenju f iti'll 1' vim' 5425 Grenada Drive Fort Worth, Texas 76119 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: Title: Presi ASSIGNEE: �k.� 4 Name: Wenju Weng ven�Custom Homes, L.L.0 ttee`" tl�v 2-T �' o Ily J � �7 Name: Michael Hurt 3 CITY OF FORT WORTH T.M. Higgins Assistant City Manager ATTEST: Secretary APPROVED AS TO FORM AND LEGALITY: Assistant City Attorney M & C: C-22514 OFFICIAL RECO�it� �NTY SECRETARY° " T. WORTH, 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. IVEN UNDER MY HAND AND SEAL OF OFFICE this -day of 2009. Not�lry Public in and for the State of Texas �IAFiiA S. SANCHEZ NOTARY PUBLIC TATE OF TEXAS My Comm. UP.12.14.2009 5 STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Mark Johns, Vice President of Woodhaven Custom Homes, L.L.C., 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 Woodhaven Custom Homes, L.L.C. a Texas limited liability company. GIVEN UNDER MY HAND AND November A00is, NotaryTublic island for the State of Texas STATE OF TEXAS § COUNTY OF TARRANT § CE this JQ Bu R �r Z/ Q;Zsumft N r: :0%� so o� . STI rye Ve ••000*00oS,:L�cf\e���� day of BEFORE ME, the undersigned authority, on this day personally appeared Wenju Weng individually and as Attorney in fact for Michael Hurt, 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. GIV UNDER MY HAND AND SEAL OF OFFICE this day of 2008. Notary Publi�n and for the State of Texas k • `SATEO �����/i�....�•054b6 Eleft AA"e �Y DParAtI,W't TXWDOR"S LIEN xs pia e o the purpose of correcting Granteesbl�s ree address°toa')WIS" nadaD p6399 Fee: $ 28.00 Title G� .. �� ,�c�.,�yJ Submitter: ACS INC SPIaCIA �rWA>tIR 1'��'Y DrrD WITH VEl14 "JLX S LIEN C(�N�IDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING ;►3� VRC mV ANY INSTRUMENT THAT TRANSFERS AN INTEREST IN RTI''I3E ORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: K`S:ECURIhY NUMBER OR YOUR DRIVER'S LICENSE NUMBER. Grantor: �tiodl,}a�}r-C�r tto_m Homes, LLC, a Texas limited lrabilrty company, being ins©7i y identified as Woodhaven Custom Homes. LLC, a Texas limited partn -s in �ed, daW(bJune 4, 2008 recorded to Clerk's File No D208220426, Deed R. ee�i'wds ot`iI i.'County, Texas. Grantor's Mailing Addr�s: �-' ��-122'1�North I-3SE Denton County, Grantee: Wenju Weng ac�4Ll�iicha�l-"1_>;utt. ��:i� and husband Grantee's Mailing Address: ",r��}�Grenada Drry 11vi t Worth. Tar at�nte6'punty. Texas 76119 Consideration: Cash and Two Notes dated of referred to as the First -Lien Man theSecot'�d the order of Plaza Home Mortgage, Inc , a`4ahti Two Hundred Seventy -Eight Thousand Nme`l+rr Note is secured by a first and superior vendor's li b} a first -lien Deed of Trust of even date figom Gra The Second -Lien Note rs payable to the order of amount of Thirty Four Thousand Eight Ilundred and No/ Lien Note is secured by a second and inferior vendor's Property retained in this Deed and is also secured by a S from Grantee to Robert B Barnes, Trustee. herewith, executed by Grantee and The First -Lien Note is payable to ratron, to the Principal Amount of a(100 Dollars ($278;900.00) The ri r tale retained in this Deed and wry S Graham, Trustee, Property (including any improvements): Lot 29; Block ENCHAI\TTED BAY, an Addition to the Ctt}• of Fort Worth, T the plat thereof recorded in Cabinet A, Slide 11723, of the Reservations fi-om Conveyance: k of Commerce rn the ,800 00). The Second - superior title to, the of Trust of even date deep ions to Conveyance and Warranty: liens described as part of the Consideration and 'any o liens described in this deed as being either assumed by Grantee or subject to which title �s ten y Grantee, validly existing restrictive covenants common to the platted subdivision in Xhicl� t eTroperty is located; standby fees, taxes, and assessments by any taxing authority for the'r ar 20 '.validly existing utility easements created by the dedication deed or plat of the su iv won In Inch the Property is located, validly existing reservations or exceptions approved rn ril nj-g y `�• I e ant�deserrbed rn Schedule I3 of the Owner Policy for Tale Insurance issued to ree �q Pe gI�tliis transaction; any discrepancies, conflicts, or shortages in area or boundar J, 'nnes, �*bp enc achments or protrusions, or any overlapping of improvements; e homeste .,af comMunit)(,'P pert or survivorship rights, if any, of any spouse of Grantee; and any validly exisstintrtitl� o�Ig its asserted by anyone, including but not limited to persons, the public, corppttions., -gov�ents, or other entities, to (a) tidelands or lands comprising the shores or beds .of nayl- ble-M erennial rivers and streams, lakes, bays, gulfs, or oceans, (b) lands beyond the.-rn96Y of e arbor or bulkhead lines as established or changed by any government, (c) fill9(1=t land o art4itli 1 islands, (d) statutory water rights, including riparian rights, or (e) the arch exCcz'ling �r the line of mean low tide to the line of vegetation or the right of access to that area-oi&yaser!jent along and across that area Grantor, for the Co'trs� eratic-'r. ri Exceptions to Conveyance ad WV together with all and singular the ighl antee and to hold it to Grand tr Grantor and Grantor's successors a ect to the Reservations from Conveyance and the nts `'ells, and conveys to Grantee the Property, x_ trt�nances thereto in any way belonging, to have successors and assigns forever Grantor binds � ns agatn�•\every person whomsoever lawfullyclaiming or to claim the same or any 0rart thereof , hen the b aim is by, through, or under Grantor but not otherwise, except as to the Reservitiion. C nveyance and the Exceptions to Conveyance and Warranty `r �`��t� The vendor's lien against and superior ,tit le]Low �Gperty are retained until each note described is fully paid according to its terms, at which ime th+s,de4d will become absolute When the context requires, singular nouns [SIGNAI'UIZES TO FOLLOW -2- the plural. ;ustom Homes, LLC, a liability con jppm3c STATE OF COiNTY OF Homcs; LLC; a Texas kFTER RECORDING PLEASE RETURN TO. Wenju Wong and Michael Hurt 5426 Grenada Drive Fort Worth, Texas 76119 ��_ 2QQ8, o Woodhaven Custom limited liability company Real Estate Data Display Page 1 of 2 Account Number:41251237 Georeference: 45259K-1-29 Property Location: 5425 Grenada Dr, Fort Worth Owner Information: Hurt, Michael Etux Wenju 5425 Grenada Dr Fort Worth Tx 76119-8500 2 Prior Owners Legal Description: Waterfront @Enchanted Bay-Fw Bllc 1 Lot 29 Taxing Jurisdictions: 026 City of Fort Worth Show Available Homestead Exemptions 099 Regional Water District 220 Tarrant County 224 Tarrant County Hospital Dist 225 Tarrant County College Dist 905 Fort Worth ISD Locate with MapQuest This infiormation 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. Proaosed Values for Tax Year 2009 Land Impr 2009 Total** Market Value $0 $0 $0 Appraised Value* $0 $0 $0 Approximate Size*** 3,550 Land Acres 0.0000 Land SgFt � 1 01 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 Year XMPT Appraised LandAppraised Impr Appraised Total Market Land Market Impr Market Total Exemptions: General Homestead Property Data Dee ate:ll/24/2008 Ins ument: D209006399 Year BuiIt:2008 Pct Complete:100 Protest Deadline: Class: 007A State Code: Al Single Family Garage Bays:02 Central Air: Y Central Heat: Y TAD Map:2078 368 Pool: N http://www.tad.org/Datasearch/re.cfm?Account=%28%2F%214HJ%SD85K%20P%20 06/12/2009