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HomeMy WebLinkAboutContract 43390-A5 (2)corvrSECRETARY, i±I5 �G!lJ-lT`� FIFTH AMENDMENT TO CITY SECRETARY CONTRACT NO. 43390 WHEREAS the City of Fort Worth ("Seller") and JJE Properties, Ltd. ("Purchaser") made and entered into City Secretary Contract No. 43390 (the "Contract"); WHEREAS, Section 6(a) of the Contract provides for a 60 day Option Period; WHEREAS, City and Purchaser extended the Option Period by 14 days in the First Amendment to the Contract effective September 7, 2012; WHEREAS, the Survey and updated Title Commitment showed certain encroachments and an arch storm drain running under the building slab and more time is needed to resolve these issues; WHEREAS, City and Buyer extended the Option Period by an additional 14 days in the Second Amendment to the Contract effective September 21, 2012; WHEREAS, Section 3(b) of the Contract calls for Purchaser to obtain an updated survey of the Property and states that the legal description of the Property in the Survey will be used in all documents that require a legal description of the Property; WHEREAS, the Survey by J.B. Davies, Inc. dated September 26, 2012 shows a more complete legal description of the Property along with certain encroachments thereto; and WHEREAS, City and Buyer extended the Option Period by an additional 14 days in the Third Amendment to the Contract effective October 5, 2012 to resolve the encroachments to the Property and to amend the Contract to provide for an updated legal description of the Property as shown on the Survey; and WHEREAS, City and Buyer agreed to extended the Option Period by an additional 14 days effective October 19, 2012 in the Fourth Amendment to the contract; and WHEREAS, City and Buyer agree to extend the Option Period by an additional 14 days effective November 2, 2012 and to extend the date of Closing until December 1, 2012; and WHEREAS, NOW, THEREFORE, Seller and Purchaser hereby agree as follows: I . C-ICITMe t-D AMENDMENT TO CSC NO. 43390 801 Vickery OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX 1 1 -29-1 2 P02 : 3 a. The reference to "60 days" in Section 6(a) of the Contract is amended to read " 13 0 days." b. The reference to "October 1, 2012" in Sections 8(a) and 8(c) is amended to read "December 1, 2012." c. As independent consideration of this extension, Purchaser will deliver $50.00 to Seller prior to execution of this amendment. The $50.00 is nonrefundable, and will not be applied to the Purchase Price at Closing. d. This Yea Amendment is effective as of November 2, 2012. II. All terms not defined herein have the meaning assigned to them in the Contract. All term and conditions of the Contract not amended herein remain unaffected and in full force and effect, are binding on the Parties and are hereby ratified by the Parties. SELLER: City Of Fort Worth By: Fernando Costa, Assistant City Manager d ,) ,. /x1 faati lley AaA 0., dosttvektt;c11•41% By: • Approved as to Legality and Form Qti � � CO4r, {i James �0Q40 Qpp 0 oaj ickA, 0° 0 *), sania %,V.k, tat two r 4:3, 84 p City Secret, . 0 8'0 1M1 & C L-153 3 Date: May 15, . o o� 0a ri V +-00©O000° al %4 s itckst41/4* Y PURCHASER: JJE Properties, Ltd., a Texas limited partnership, By Property Company of Fort Worth, LLC, its General Partner, Assistant City Ato#'ney_ crIrrIA- THIRD AMENDMENT TO CSC NO. 43390 801 Vickery OFFICIAL RECORD CITY SECRETARY S�' 1i o 4J U U J!1 if FTS: 2