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HomeMy WebLinkAboutContract 40333sOL I I krA•1 • ASSIGNMENT OF TAX ABATEMENT AGREEMENT This Assignment of Tax Abatement Agree is made and entered into by and between Boulevard Builders/Ridglea Place, LP (FKA - Ridglea Place, L.P.) ("Assignor") and Paul John Chaston, ("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 6051 Portrush Di. Lot 49 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 Number 2987Q ("Agreement"): B. 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: C. Pursuant to that certain Special Warranty Deed dated as of 12/11/2009, Assignor conveyed the Property to Paul John Chaston 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. 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 12/11/2009 ("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 OFFICIAL RECORD E CITY SECRETARY 06-17-10 Al 1 :Y3 IN 1 FT. WORTH, TX 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. 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: Paul John Chaston 6051 Portrush Dr. 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. 2 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: Boulevard Builders/Ridglea Name: L.P. (FKA Ridglea Place, LP) General Partner for Boulevard Builders/Rid�lea Place, LP ASSIGNEE: Paul John Chaston X, Name: Paul John Chaston 3 CITY OF FORT WORTH Assistant City Manager ATTEST: i City Secretary APPROVED AS TO FORM AND LEGALITY: �'Iiarlene Sanders Assistant City Attorney M & C: C-19864 OFFICIAL RECORD CITY SECRETARY T. 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. the S GIVEN UNDER MY HAND AND SEAL OF OFFICE this day of _�'r°��'YF�&�- i�1ARIA S. SANCHEZ *' MY COMMISSION EXPIRES rey` December 14, 2013 5 STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Don Lovelady, Manager of Boulevard Builders/Ridglea Place GP, LLC, General Partner for Boulevard Builders/Ridglea Place, L.P., (FKA) Ridglea Place, LP., 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 Notary Public in a the State of Texas STATE OF TEXAS § COUNTY OF TARRANT § AND SEAL OF OFFICE this ( � &aQ °• 0 STi RfEN A. CANTWELL j Notary Public r ° STATE OF TEXAS ! 11A aP �;[!Y,4' Commission Expires 07/30/12 f enev BEFORE ME, the undersigned authority, on this day personally appeared Paul John Chaston known to me to be the person whosename 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. GIVEI�T UNDER MY Notary Public in and the State of Texas AND SEAL OF OFFICE this i l day of STEVEN A. CANTWELL Notary Public STATE OF TEXAS Commission Expires 07/30/12 Tarrant Appraisal District Real Estate o611212a10 Account Number: 40343952 Georeference: 34395-1R49 Property Location: 6051 Portrush Dr, Fort Worth Owner Information: Chaston, Paul J 6051 Portrush Dr Fort Worth Tx 76116-5893 2 Prior Owners Legal Description: Ridglea Place Blk 1R Lot 49 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 carded in TAD's database. Proposed Values for Tax Year 2010 Land {m r 2010 Total** Market Value $0 $0 $0 Appraised Value* $0 $0 $0 Approximate Size*** 1,740 Land Acres 060000 Land S Ft 0 * 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 Land Appraised Impr Appraised Total Market Land Market Impr Market Total 2009 000 $70,000 $130,600 $200,600 $70,000 $130,600 $200,600 2008 000 $701000 $130,600 $2003600 $705000 $130,600 $200,600 2007 000 $28,350 $0 $285350 $283350 $0 $283350 2006 000 $28,350 $0 $28,350 $283350 $0 $28,350 2005 000 $28,350 $0 $28,350 $285350 $0 $28,350 Exemptions: General Homestead Property Data Deed Date: 12/11/2009 Instrument: D209329973 Year Built: 2007 Pct Complete: 100 TAD Map: 2024 384 MAPSCO: 074Q Agent: None Protest Deadline; Class: 009H State Code: AS Pud/Zero Lot Ln Garage Bays: 02 Central Air: Y Central Heat: Y Pool: N O FFICIAL REGUt�l �T,1dVAR`CH, TX -k Page 1 of 3 THE STt�TE COUNTY (hereinafter called good and valuable whose address is 6051 DEED WITH VENDOR'S LIEN M FAVOR OF I nt" PARTY Vill Oki k § KNOW ALL MEN BY THESE PRESENTS: �► � � :v � � • ice- r • nore), for and in consideration of the sum of TEN DOLLARS ($10.00) and other AUL J. CHASTON, AN UNMARRIED MAN (hereinafter called "GRANTEES" �vheth o ei� mo t confessed, and the further consideration of th to in cip Hundred Forty Four And No/100t payable to the order of WR STARKEY MO L P. (hereinafter referred to as "BENEFICIARY") at t ecial in: hereby acknowledged and confessed, and as evidence of such adv date herewith for said amount payable to the order of said B interest being due and payable in monthly installments the maturity at the rate and in the events therein set forth, whic not secured by a Deed of Trust of even date herewith, executed by c TX 76109 t and sufficiency of which are hereby acknowledged and of Two Hundred IY�ree Ihausarid Five ( $ 203, 544. 00) set Trustee, reference to which is here made for all purposes; and in wIt KLMel n ' e Beneficiary above mentioned, Grantors hereby transfer, set over, assi n d ce Lien and Superior Title hcrein retained and reserved against the prop anl the same extent as if said note had been executed in Grantor's favor ndmtr recourse; have GRANTED, SOLD and CONVEYED, and by these presen Grantees herein, the following described property, together with all improvem LOT 49 r PAGE 1R, RIDGLEP, PLACE, AN ADDITION TO TIE CI111' TEXAS, ACCORDING TO THE REVISED PLAT OF SAID ADDITION PLAT RECORDS, TARRANT COUNTY, TM(AS. t of the Grantees herein, the receipt of which is 1 Grantees herein have executed their note of even nterest at the rate therein provided, principal and providing for attorney's fees and acceleration of Vendor's Lien herein reserved and is additionally o W. R. STARRY, JR. payment of the sum above mentioned by the to said Beneficiary and assigns, the Vendor's e n conveyed, in the same manner and to iranto assigned to the Beneficiary without V I , SELL and CONVEY unto the said TO HAVE AND TO HOLD the above described premises, together with, all and singdi�r!th thereto in any wise belonging, unto the said Grantees, their heirs and assigns forever. And Grant do their heirs, executors and administrators, to warrant and forever defend all and singular, the said pre their heirs and assigns; against every person whomsoever lawfully claiming or to claim the same or any pad Page 1 of 2 PB567-1.0605 appurtenances Page 2 of 3 by reco it is the payee n s fully pai acc en tl verbs and prone administrators" Dated this the der Grantors but not otherwise. Taxes for the current year have been prorated and are assumed by Grantee. This and accepted subject to any and all validly existing restrictions, mineral reservations and interests, conditions, s, and rights of way, if any, applicable to and enforceable against the above described property as now reflected my Clerk in said County and State and to any applicable zoning laws or ordinances. es y agreed and stipulated that the Vendor's Lien and the Superior Title are retained and reserved in favor, of a inst the above described property, premises and improvements, until said note, and all interest thereon is to and t or, effect and reading thereof, when this deed shall become absolute. s ex one person, or when the Grantee is one person, the instrument shall read as though pertinent ere h e rrespond, and when executed by or to a corporation the words "heirs, executors and le and signs" al be construed to mean "Successors and assigns". it w� Decenber, 2009 THE STATE OF TEXAS COUNTY OF This instrument was a6knowlodgod before me on THE STATE OF 'T�xwl coUNTY OF -l't�rl.l acknowledged f���Lr Of on behalf of said corporation. 44 PALTL �T. CFiAS'IUN � U��t� 6051 PORTRUSH DF1rZ�` FORT WORTH, TX 76109 PB567-2.1009 Page 3 of 3 HEN©LKOUN rY CLERK 100 West Weatherford Fort Worth, TX 76196-0401 PHONE (817) 8841195 Siib�it#er: ALAMO Filed For Registration: 12/ /2 3:59 PM Instrument #; ®209329973 WD D209329973 ANY PROVISION WHICH RESTRICTS THE SALE, RENTAL OR USE OF THE 1 BECAUSE OF COLOR OR RACE IS INVALID AND UNENFORCEABLE Prepared by: CAMADDOCK $20.00