HomeMy WebLinkAboutContract 40334SECRETARY
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NTRACT NO,
ASSIGNMENT O>r U AN ADA I EMEN'I AGREEII11MN t
This Assigmnent of Tax Abatement AgrCe is made and entered into by and
between Ridglea Place, L.P. ("Assignor") and Linli H. Tran, ("Assignee") and the City
of Fort Worth, ("City")
RECITALS
A. Ridglea Place, L.P. ("Ridglea") and the City of Fort Worth, Texas (the "City")
entered into that certain Tax Abatement Agreement ("Agreement") for Property
Located 6055 Portrush Drive, Fort Worth, Texas, 76116, Lot. 147, Block 1R,
Ridglea Place, Fort' Worth; Texas 76116 ("Property") which is located in the
Ridglea Village and Como Neighborhood Empowerment Zone, such Agreement
approved by the City Council of Fort Worth November 18, 2003 City Secretary
Contract NumberAQMp("Agreement"):
B. Section 5 of the Agreement pei711its Assignor to assign all of its rights under the
Agreement to Assignee, without obtaining the prior consent of the City Council:
C. Pursuant to that certain Special Warranty Deed dated as of April 5, 2010,
Assignor conveyed the Property to Linh H. Tran and Assignee acquired title to the
real property which is the subject of the Agreement.
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. Assi nit. 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 April 5, 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
Assigmnent, Assignor will be discharged from any and all furt�i�bligatians uude�
06-17-10 A11:42 IN
OFFICIAL RECORD
CITX SECRETARX
FT. WORTH, TX
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 and Economic Development Department
Neighborhood Empowerment Zone (NEZ)
1000 Throckmorton
Fort Worth, Texas 76102
ASSIGNEE:
Linh H. Tran
6055 Portrush
Fort Worth, Texas 76116
ASSIGNOR:
Michael Vick, President
Boulevard Builders, LLC
General Partner for Ridglea Place, LP
4809 Cole Avenue Suite 345
Dallas, Texas 75205
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.
I
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 Ue 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: Ridglea Place, L.P.
Name: Don�velady, I1tlanaget�
Boulevard Builders, LLC
General Partner for Ridglea Place, LP
ASSIGNEE: Purchaser
Name: Linh H. Tran
3
CITY OF FORT WORTH
T.M. Higgins
Assistant City Manager
ATTEST:
City Secretary
APPROVED AS TO FORM AND LEGALITY:
Charlene Sanders
Assistant City Attorney
M & C: C-22331
®FFICIAL RECORD
CITY SECRETARY
FT WORTH, TX
n
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 UNDF,R MY HAND AND SEAL OF OFFICE this day of
, 2010.
-------------
0 ; MARIA S. SMCNEL
Jo v
Not y Public in and for MY COMMISSION EXPIRES
the tate of Texas '.'s �,.•° Dacsmber 14, 2018
G
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, on this day personally appeared WLovelady,
Manager of Boulevard Builders, LLC, General Partner for Ridglea Place, L.P., 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 Ridglea Place, L.P.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this 6�day of
Pf A a4 2w100 _
ary Public to a
State of Texas
STATE OI+ TEXAS
COUNTY OF TARRANT
JAMIE'S R R JR
ST TEO P EXkAS
MY Comm. Exp, QZ2014
BEFORE ME, the undersigned authority, on this day personally appeared purchaser,
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 HAND AND SEAL OF OFFICE this ay of
51
and
the State of
010
JAMES F LAWLER JR
Notary Public
STATE OF TEXAS
My Comm. Exp, 02/23=4
6
Tarrant Appraisal District
Real Estate
dell z�zQ1 Q
Account Number: 40343936
Georeference: 343954 R-47
Property Location: 6055 Portrush Dr, Fort Worth
Owner Information: Tran, Linh H
6055 Portrush Dr
Fort Worth Tx 76116-5893
2 Prior Owners
Legal Description: Ridglea Place
Blk I Lot 47
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
carried in TAD's database.
Proaosed Values for Tax Year 2010
Land
Im r
2010 Total**
Market Value
$70,000
$130,100
$200,100
Appraised Value*
$16000
ikpproximate Size***
1,730
Land Acres
010000
Land S Ft
0
Appraised value may be less than market value due to state -mandated limitations on vawe 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 Imp
Appraised Total.
Market Land
Market Impr
Market Total
2009
000
$70,000
$129,800
$199,800
$70,000
$129,800
$199,800
2008
000
$709000
$12%800
$199,800
$705000
$12%800
$19%800
2007
000
$28,350
$0
$28,350
$28,350
$0
$281350
2006
000
$28,350
$0
$28,350
$285350
$0
$28,350
20,
000
$28,350
$0
$285350
$285350
$o
$28,350
2010 Notice Sent: 04/30/2010
Exemptions: None
Property Data
Deed Date: 04/05/2010
Instrument: D210080276
Year Built: 2007
Pct Complete: 100
TAD Map: 2024 384
MAPSCO: 074Q
Agent: None
Protest Deadline: 06/01/2010
Class: 009H
State Gode: 02 Sngle Fam Invty
Garage Bays: 02
Central Air: Y
Central Heat: Y
Pool N r
OFFICIAL RECORD
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Fblt P � 76116
IF YOU A
FOLLOWIN A
REAL PRO E F(
SOCIAL SE
STATE OF TE
COUNTY OF T
On this, the 5TH a
RIDGLEA PLACE, L.P.,
hereinafter called 'Grantor" (whet
valuable consideration to Grantor
LINH H. TRAN, A SINGLE
51103371
SPECIAL
'Y DEED WITH VENDOR'S LIEN "
('Pexas)
;E OF CONFIDENTIALITY RIGHTS:
iON, YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE
tOM ANY INSTRUMENT THAT TRANSFERS AN INTEREST IN
IS FILED FOR RECORD IN THE PURLIG RECORDS; YOUR
tt YOUR DRIVER'S LICENSE NUMBER.
KNOW ALI. MEN SY THESE PRESENTS:
2010 that
for and in consideration of the sum of Ten Dollars ($10.00) and other good and
hereinafter called 'Grantee' (whether one r j,
consideration of the execution and delivery b G
of $ 148.800.00 ,payable to th et
SOUTHWEST BANK
hereinaftercalled "Mortgagee", bearing inteeesi at tiie rate therein
clause and various accelerationof maturity clauses m case of
herein in favor of said Mortgagee, and being also sec}
VERNON W. BRYANT, JR. �
Trustee; and
WHEREAS, Mortgagee has, at the special instance ar
of the property hereinafter described, as evidenced by the abov
said property securing the payment of said Note are hereby
conveying to said Mortgagee the said superior title to said pn
Grantor in the premises by virtue of said liens; and
hich is hereby acknowledged and confessed, and the further
Promissory Note of even date herewith, in the principal sum
Grantor has GRANTED, SOLD and CONVEYED, and by these
Grantee, the following described property, to•wit:
LOT 47, BLOCK iR, OF RIDGLEA PLACE, AN ADDITION TO
TEXAS. ACCORDING TO THE PLAT THEREOF RECORDED IN
TARRANT COUNTY, TEXAS.
note containing the usual reasonable attorneys' fee
xured by Vendor's Lien and superior title retained
Trust of even dart herewith from Grantee to
raid to Grantor a portion of the purchase price
Vendor's Lien and Deed of Trust Lien against
and delivered to Mortgagee, Grantor hereby
i Mortgagee to all the rights and remedies of
TO HAVE AND TO HOLD the above -described premises, together with all and sip
Wereunto in anywise belonging unto said Grantee, his heirs and assigns, fore)
bind himself, his heirs, executors and administrators, to warrant and forever defend all and s
Grantee, his heirs and assigns, against every person whomsoever lawful]y claiming or
iht;nofBY, THROUGH OR UNDER HIM, BUT NOT OTHERWISE.
Taxes for the current year have been prorated and Weir payment is assumed by Grantee.
SELL and CONVEY unto said
WORTH, TARRANT COUNTY,
E 8638, PLAT RECORDS.
This conveyance is made subject to any and all valid and subsisting restrictions, easements, rigSt
maintenance charges together wiW any lien securing said maintenance charges, zoning laws, ordinances of
governmental authorities, conditions and covenants, if any, applicable to and enforceable against We abov
shpwn by the records of the County Clerk of said County.
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51103371
fa of any pronoun herein to refer to Grantor or Grantee shall be deemed a proper referet►ce even though Grantor
and/ Gre may be an individual (either male or female), a corporation, a partnership or a group of two or mon individuals,
_ rat' andJor partnerships, and when this Deed is executed by or to a corporetion, or trustee, the words °heirs, executors and
admi ' rya' or "heirs and assigns" shall, with respect to such corporation or trustee, be conatnted [o mean 'successors and
;sly agreed that the Vendor's Lien is retained in favor of the payee oS said Note against the above described
and improvements, until said Note and all interest thereof shall have been fully paid according to the terms
teed shalt become absolute.
v
EXECUTED thi4 of i.�/L:1i , but to be effective APRIL 05. 2010
RIOGLEA
BY: BOULEVARD ILQ A7EXAS
LIMBED LUMIL C TIO RS GENERAL
PARTNER
STATE OF
County of
Before me, the undersigned, on this day personally
U,novm to me (or proved to me on the oat!► of
the foregoing instrument and acknowledged to me
expressed.
Given under my hand and seal of office this
(Seal)
STATE OF TEXAS
County of Ti4RRANT
on
O
Koury
NIP
(Seal)
s) whose names) subscribed to
for the purposes and consideration therein
2010
Ibcd to
therein
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