HomeMy WebLinkAboutContract 47017 (2)RECE%VEtL
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e a stHIS CONTRACT OF SALE AND PURCHASE ("Contract") is made and entered into by and
tbitaen the CITY OF FORT WORTH, TEXAS, a home rule Municipal Corporation of the State of
Texas, acting by and through its duly authorized City Manager or Assistant City Manager ("Purchaser")
and Lewisville 7 Partners, Ltd., ("Seller") as of the date on which this Contract is executed by the last to
sign of Seller and Purchaser ("Effective Date").
CITY SECFmg 71)
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CONTRACT OF SALE AND PURCHASE
AGREEMENT
In consideration of the mutual covenants in this Contract, Seller and Purchaser agree as follows:
Section 1. Sale and Purchase.
(a) Seller agrees to sell and convey to Purchaser and Purchaser agrees to purchase and accept
from Seller, on and subject to the terms and conditions set forth in this Contract, 0.8848 acres of land out
of the J.J. Albirado Survey, Abstract No. 4 (collectively, the "Land"), which Land is more particularly
described on the attached Exhibit "A", which is attached hereto and incorporated herein by reference for
all purposes, together with (i) all buildings, fixtures, structures and improvements thereon; (ii) any strips
or gores between the Land and all abutting properties; (iii) all roads, alleys, rights -of -way, easements,
streets and ways adjacent to or serving the Land and rights of ingress and egress thereto, whether surface,
subsurface or otherwise; (iv) any land lying in the bed of any street, road or access way, opened or
proposed, in front of, at a side of or adjoining the Land, to the centerline of such street, road or access
way;; and (v) all licenses, interests, and rights appurtenant to the Land. The Land and Items (i)-(v) are
collectively referred to as the "Property".
(b) Seller shall convey the Property to Purchaser free and clear of all liens, claims,
easements, rights -of -way, reservations, restrictions, encroachments, tenancies, and any other
encumbrances (collectively, the "Encumbrances") except (i) the Encumbrances appearing in the Title
Commitment and the Survey (hereinafter defined) that are not cured and that are subsequently waived
pursuant to Section 3 ("Permitted Encumbrances") and (ii) a combination ten (10') foot wide utility
easement adjacent and parallel to the proposed Cloudyway Drive right-of-way, and (iii) the Oncor
easement and right-of-way depicted on Exhibit "B" prepared by Miller Surveying, Inc and dated May 19,
2015.
(c) Notwithstanding anything to the contrary, Seller hereby retains and reserves from this
conveyance (and the Property does not include) for itself, and its successors and assigns, any and all
interest in any and all oil, gas and other minerals in, on, or under the Land; provided, however, Seller
hereby waives and relinquishes access to any use of the surface of the Property.
Section 2. Independent Contract Consideration and Purchase Price.
(a) Contemporaneously with the execution of this Contract, Purchaser delivers to Seller a
check in the amount of $50.00 ("Independent Contract Consideration") as independent consideration
for Seller's execution, delivery and performance of this Contract. This Independent Contract
Consideration is in addition to and independent of any other consideration or payment provided for in this
Contract, is non-refundable, and shall be retained by Seller notwithstanding any other provision of this
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OFFICIAI, RECORD
CITY SECRETARY
FL WORTH, Tx i
Contract; however, upon Closing (as hereinafter defined), the Independent Contract Consideration shall
be applied as a credit toward the Purchase Price (as hereinafter defined).
(b) Contemporaneously with the execution of this Contract, Purchaser shall deposit into
escrow with the Title Company (as hereinafter defined), the sum of Ten Thousand and 00/100 Dollars
($10,000.00) ("Earnest Money") The Earnest Money will be held in escrow and delivered by Title
Company in accordance with the provisions of this Contract, and if the sale and purchase of the Property
closes under this Contract, the Earnest Money will be applied toward the Purchase Price (as hereinafter
defined). The Earnest Money will be placed in an interest -bearing account by Title Company as directed
by Purchaser, with all interest acct uing to Purchaser prior to Closing.
(c) The purchase price ("Purchase Price") for the Property, payable by Purchaser to Seller at
Closing (as hereinafter defined), is ONE HUNDRED FIFTY THOUSAND and 00/100 DOLLARS
($150,000.00). Seller has determined that the Purchase Price reflects the current fair market value of the
Property.
Section 3. Title Commitment and Survey.
(a) Within 15 business days after the Effective Date, Purchaser shall obtain at Purchaser's
sole cost and expense, a Commitment for Title Insurance ('Title Commitment") from Alamo Title
Company, Telephone: 817-921-1215, Attention: Lavonne S. Keith (the "Title Company"). The Title
Commitment shall be effective as of a date which is on or after the Effective Date, showing Seller as the
record title owner of the Land, and shall show all Encumbrances and other matters, if any, relating to the
Property The Title Company shall also deliver contemporaneously with the Title Commitment legible
copies of all documents referred to in the Title Commitment, including but not limited to, plats,
reservations, restrictions and easements.
(b) If Purchase! does not have a survey of the property satisfactory to the Purchaser, in
Purchaser's sole discretion, then within 10 business days afte! the Effective Date of this Contract, Seller
shall provide to Purchaser a copy of a survey of the Pioperty (' Survey") at Seller's sole cost and expense.
The Survey shall consist of a plat and field notes describing the Property prepared pursuant to a current
on -the -ground staked survey performed by a registered public surveyor or engineer satisfactory to
Purchaser and Title Company. The Survey shall (i) be certified to Purchaser, its successors and assigns,
and Title Company, (ii) reflect the actual dimensions of and the total number of square feet within the
Property net of any portion thereof lying within a publicly dedicated roadway or a utility easement, (iii)
identify any rights -of -way, easements, or other Encumbrances by reference to applicable recording data,
and (iv) include the Surveyor's registered number and seal and the date of the Survey. The description of
the Property prepared as a part of the Suvey will be used in all of the documents set forth in this Contract
that require a legal description of the Property.
(c) Purchaser shall have a period of time ("Title Review Period") commencing on the
Effective Date and ending 10 business days after the first date on which Purchase! has received both the
Title Commitment (and exception instruments) and the Survey, in which to notify Seller in writing of any
objections ("Objections") Purchaser has to any matters shown on the Title Commitment or the Survey.
(d) Seller shall have the option, but not the obligation to remedy om remove all Objections
(or agree irrevocably in writing to remedy or remove all such Objections at or prior to Closing) during the
period of time (the "Cure Period") ending on the tenth business day after Seller's receipt of Purchaser's
notice of such Objections. Except to the extent that Seller cures, or agrees in writing to cure, such
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Objections during the Cure Period, Seller shall be deemed to have elected not to cure such matters. If
Seller is, or is deemed to be unable or unwilling to remedy or cause the removal of any Objections (or
agree irrevocably to do so at or prior to Closing) within the Cure Period, then either (i) this Agreement
may be terminated in its entirety by Purchaser by giving Seller written notice to such effect during the
period of time (the "Termination Period") ending on the fifth business day following the end of the Cure
Period, and the Escrow Agent shall return the Earnest Money to Purchaser and the parties shall be
released of further obligations under this Agreement or (ii) any such Objections may be waived by or on
behalf of Purchaser, with Purchaser to be deemed to have waived such Objections if notice of termination
is not given within the Termination Period. Any title encumbrances or exceptions which are set forth in
the Title Commitment or the Survey and to which Purchaser does not object within Title Review Period
(or which are thereafter waived or deemed to be waived by Purchaser) shall be deemed to be permitted
exceptions (the "Permitted Exceptions") to the status of Seller's title to the Property.
(d) Any other provision herein to the contrary notwithstanding, (i) all exceptions disclosed in
the Title Commitment (or any subsequent commitment) which arise on or after the Effective Date of this
Agreement and are not attributable to actions by Purchaser and (ii) all Objections that Seller agrees in
writing to cure at or prior to Closing (collectively, the "Mandatory Cure Items') shall be satisfied, cured
or removed by Sellei, at Seller s sole cost and expense, at or prior to Closing.
Section 4. Due Diligence Documents. Within 5 business days after the Effective Date, Seller shall
deliver to Purchaser, only the following items in Seller s actual possession for Purchaser's review (i) any
and all tests, construction plans, studies and investigations relating to the Property and the operation and
maintenance thereof, including, without limitation, any soil tests, engineering reports or studies, and any
Phase I or other environmental audits, reports or studies of the Property; (ii) any and all information
regarding condemnation notice(s), proceedings and awards affecting the Property; and (in) all proposed or
existing private covenants, conditions and restrictions of which the Property will be a part and any other
private agreements affecting the use or development of the Property.
Section 5. Tests. Purchaser, at Purchaser's sole cost and risk, shall have the right to go on to the
Property, including the Improvements to make inspections, surveys, test borings soil analysis, and other
tests, studies and surveys including without limitation, environmental and engineering tests borings,
analysis, and studies ("Tests"). Any Tests shall be conducted at Purchaser's sole expense. At the
conclusion of the Tests, the Property will be restored by Purchaser, at Purchaser's sole expense, to at least
a similar condition as before the Tests were conducted. In the event this transaction does not close for
any reason whatsoever the Purchaser shall release to Seller any and all independent studies or results of
Tests obtained during the Option Period (as defined below).
Section 6. Option Period.
(a) Notwithstanding anything to the contrary contained in this Contract, until 45 days after
the Effective Date ("Option Period"), the following is a condition precedent to Purchaser's obligations
under this Contract:
Purchaser being satisfied in Purchaser's sole and absolute discretion that the Property is
suitable for Purchaser's intended uses, including, without limitation, Purchaser being
satisfied with the results of the Tests (defined in Section 5 above).
(b) If Purchaser determines that a Phase II Environmental Study is needed, Purchaser shall
send Sellei written notice of its intent to conduct a Phase II Environmental Study at Purchaser's expense
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and upon sending such written notice, the Option Period shall be automatically extended for an additional
45 days.
(c) If Purchaser is not satisfied in Purchaser's sole and absolute discretion as to the condition
precedent described in Section 6(a) above, Pui chaser may give written notice thereof to
Seller on oi before the end of the Option Pei iod, whereupon this Contract shall terminate.
Upon such termination, the Earnest Money (including all interest earned thereon) will be
returned to Purchaser, the Contract will terminate, and neither party shall have any
further rights or obligations under this Contract.
(d) The provisions of this Section 6 control all other provisions of this Contract.
(e) The parties agree that the Option Period will not be extended upon expiration without a
written amendment signed by both parties.
Section 7. Closing Contingencies. The closing ("Closing") of the sale of the Property by Seller to
Purchaser shall occur through the office of the Title Company. The following shall be contingences to
Closing (collectively, the 'Closing Contingencies"): (i) recording of the Oncor easement in a form similar
to that attached as Exhibit "C", and (ii) completion of the improvements described in Section 29 hereof,
as evidenced by a written notice of completion from Seller to Purchaser Closing shall occur on or before
15 days after the Closing Contingencies are satisfied. If any Closing Contingencies are not satisfied to
Purchaser s satisfaction so that Purchaser is prepared to close on or before December 1, 2015 then
Purchaser may terminate this Contract, and upon the termination, Seller shall retain the Earnest Money
and any interest earned and neither party will have any further rights or obligations hereunder; however,
the Closing may be extended if the Closing Contingencies are not satisfied if mutually agreed to in
writing by the parties.
Section 8. Closing.
(a) At the Closing, all of the following shall occur, all of which are deemed concurrent
conditions:
(1) Seller, at Seller's sole cost and expense, shall deliver or cause to be delivered to
Purchaser the following:
(i) A Special Warranty Deed ("Deed"), fully executed and acknowledged by
Seller, conveying to Purchaser good and indefeasible fee simple title to
the Property subject only to the Permitted Encumbrances, but containing
a reservation of the mineral i ights, with the precise form of the Deed to
be determined pursuant to Section 10 below;
(II) A Non -Foreign Person Affidavit in form and substance reasonably
satisfactory to Purchaser, fully executed and acknowledged by Seller,
confirming that Seller is not a foreign person or entity within the
meaning of Section 1445 of the Internal Revenue Code of 1986, as
amended;
(iii) Evidence of authority to consummate the sale of the Property as is
contemplated in this Agreement or as Purchaser or the escrow agent may
reasonably request; and
(iv) Any other instrument or document necessary for Title Company to issue
the Owner Policy in accordance with Section 8(a)(3) below.
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(2) Purchaser, at Purchaser's sole cost and expense, shall deliver or cause to be
delivered to Seller through the Title Company federally wired funds or a certified or
cashier's check or such other means of funding acceptable to Seller, in an amount equal to
the Purchase Price, adjusted for closing costs and prorations.
(3) Title Company shall issue to Purchaser, at Purchaser's sole cost and expense, an
Owner Policy of Title Insurance ("Owner Policy") issued by Title Company in the
amount of the Purchase Price insuring that, after the completion of the Closing, Purchaser
is the owner of indefeasible fee simple title to the Property, subject only to the Permitted
Encumbrances and the standard printed exceptions included in a Texas Standard Form
Owner Policy of Title Insurance; provided, however the printed form survey exception
shall be limited to "shortages in area," the printed form exception for restrictive
covenants shall be deleted except for those rests ictive covenants that are Permitted
Encumbrances there shall be no exception for rights of parties in possession, and the
standard exception for taxes shall read: 'Standby Fees and Taxes for the year of Closing
and subsequent years, and subsequent assessments for prior years due to change in land
usage or ownership";
(4) Seller and Purchaser shall each pay their respective attorneys' fees.
(5) Purchaser shall pay all recording fees and any other closing costs as set forth by
the Title Company.
(b) Purchaser will qualify for exemption from ad valorem taxation for the Property, and no
ad valorem taxation shall accrue after the date of Closing. Therefore any ad valorem taxes assessed
against the property for the current year shall be foi the period of time the Property was owned by Seller
and based on estimates of the amount of taxes that will be due and payable on the Property during the
current year, Seller shall pay for any taxes and assessments applicable to the Property up to and including
the date of Closing As soon as the amount of taxes and assessments on the Property for the current year
is known, Seller shall pay any additional amount of taxes to be paid for any taxes and assessments
applicable to the Property up to and including the date of Closing. The provisions of this Section 8(b)
survive the Closing.
(c) Upon completion of the Closing, Seller shall deliver possession of the Property to
Purchaser, free and clear of all tenancies of every kind except those disclosed in the Permitted
Encumbrances.
Section 9. Seller's Representations. Seller hereby represents and warrants to Purchaser, as of the
Effective Date and as of the Closing Date, except as otherwise disclosed in written notice from Seller to
Purchaser at or prior to Closing, that:
(a) Seller's Authority This Contract has been duly authorized by requisite action and is
enforceable against Selle► in accordance with its ter ms; neither the execution and
delivery of this Agreement nor the consummation of the sale provided for herein will
constitute a violation o► breach by Seller of any provision of any agreement or other
instrument to which Seller is a party o► two which Seller may be subject although not a
party, or will result in or constitute a violation or breach of any judgment, order, wi it,
junction or decree issued against or binding upon Seller or the Property;
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(b) No Pending Proceedings. There is no action, suit, proceeding or claim affecting the
Property or any portion thereof, or affecting Seller and relating to the ownership,
operation, use or occupancy of the Property, pending or being prosecuted in any court or
by or before any federal, state county or municipal department, commission, board,
bureau or agency or other governmental entity and no such action, suit, proceeding or
claim is threatened or asserted;
(c) Seller is Not a Foreign Person. Seller is not a foreign person or entity as defined in
Section 1445 of the Internal Revenue Code of 1986, as amended, and Purchaser is not
obligated to withhold any portion of the Sales Price for the benefit of the Internal
Revenue Service;
(d) No Insolvency Proceedings. No attachment, execution, assignment for the benefit of
creditors, receivership, conservatorship or voluntary or involuntary proceedings in
bankruptcy or pursuant to any other debtor relief laws is contemplated or has been filed
by or against Seller or the Property, nor is any such action pending by or against Seller
or the Property;
(e) Contract Obligations. Except as otherwise disclosed in the Title Commitment no
lease, contract or agreement exists relating to the Property or any portion thereof which
is not terminable at will or upon not mole than 30 days' prior notice except tenant
leases;
(f) No Competing Rights. No person, firm or entity, other than Purchaser (specifically
excluding Oncor Electric's easement to be filed prior to Closing and the general 10 foot
easement represented in Exhibit "B' ), has any right to purchase, lease or otherwise
acquire or possess the Property or any part thereof;
(g) No Regulatory Violations. The Property is not in breach of any law, ordinance or
regulation, or any or del of any court or any federal, state, municipal or other
governmental department, commission board, bureau, agency or instrumentality
wherever located, including, without limitation, those relating to environmental matters
and hazardous waste, and no claim, action, suit or proceeding is pending or, to the best o
Seller's knowledge and belief and after due inquiry, threatened against or affecting
Seller or affecting the Property, at law or in equity, or before or by any federal state,
municipal or other governmental department, commission board, bureau, agency or
entity wherever located, with respect to the Property or the Sellers present use and
operation of the Property, and
(h) No Hazardous Materials. To the best of Seller's knowledge (with no duty to
investigate) (i) all required federal, state and local permits concerning or related to
environmental protection and regulation for the Property have been secured and are
current; (ii) Seller is and has been in full compliance with such environmental permits
and other requirements regarding environmental protection under applicable federal,
state or local laws, regulations or ordinances; (iii) there is no pending action against
Seller under any environmental law, regulation or ordinance and Seller has not received
written notice of any such action or possible action; (iv) there is not now, nor has there
been in the past any release of hazardous substances on, over, at, from, into or onto any
facility at to Property, as such terms are understood under the Comprehensive
Environmental Response, Compensation and Liability Act and (v) Seller does not have
actual knowledge of any environmental condition, situation or incident on, at or
concerning the Property that could reasonably be expected to give rise to an action or to
liability under any law, rule, ordinance or common law theory governing environmental
protection.
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Seller acknowledges that Purchaser has relied and will rely on the representations and warranties of Seller
in executing this Agreement and m closing the purchase and sale of the Property pursuant to this
Agreement, and Seller, during the term of this Agreement, agrees to notify Purchaser promptly in the
event that Sellei obtains knowledge of any change affecting any of such representations and warranties in
which event Purchaser shall be entitled to exercise the ►emedies set forth in Section 14 hereof. Until and
unless Seller s warranties and representations shall have been qualified and modified as appropriate by
any such additional information provided by Seller to Purchaser, Purchaser shall continue to be entitled to
rely on Seller s representations and warranties set forth in this Agreement, notwithstanding any contrary
information resulting from any inspection or investigation made by or on behalf of Purchaser. All of
Seller's representations and warranties, as so qualified and modified, shall survive Closing.
Section 10. Seller's Covenants.
(a) Updating of Information. Seller acknowledges that Purchaser will rely upon the Title
Commitment, Survey, Due Diligence documents and other materials delivered by Seller to
Purchaser hereunder to satisfy itself with respect to the condition and operation of the
Property, and Seller agrees that, if Seller discovers that the information contained in any of
the materials delivered to Purchaser heieunder is inaccurate or misleading in any respect, then
Seller shall promptly notify Purchaser of such changes and supplement such materials.
(b) Prohibited Activities. During the tern of this Agreement, Seller shall not, without the prior
written consent of Purchaser, which consent Purchaser shall have no obligation to giant and
which consent if granted, may be conditioned in such manner as Purchaser shall deem
appropriate in the sole discretion of Purchaser: (►) grant any licenses, easements or other uses
affecting any portions of the Property; or (ii) permit any mechanic's or materialman s lien to
attach to any portion of the Property. Notwithstanding the above, Purchaser heieby approves
of Seller's grading plan for the property as shown on the attached Exhibit "D' .
(c) Cooperation in Pei mining Activities. During the term of this Agreement, Seller will
cooperate with Purchaser in such manner and at such times as Purchasei may request in
obtaining subdivision, zoning or rezoning, site plan development, building permit and other
approvals required for Purchaser's proposed use including without limitation, signing such
applications for such approvals and other instruments as may be required or authorizing
Purchaser to sign such applications or instruments as Seller s agent or both. Purchaser shall
bear the costs and expenses of obtaining all such approvals except for attorneys' fees that
Seller may consider necessary in connection with reviewing such applications and
instruments, which shall be borne solely by Seller. Any such Purchaser's request shall not
alter of interfere with Seller's development process and/or use of the proposed Summer Creek
South Phase 4 as detailed in Section 29 he►ein.
Section 11. Agents. Seller and Purchaser each represent and warrant to the other that it has not
engaged the services of any agent, broker, or other similar party in connection with this transaction.
Section 12. Closing Documents. No later 15 days prior to the Closing, Seller shall deliver to
Purchaser copies of the closing documents (including but not limited to the Deed) for Purchaser's
reasonable right of approval.
Section 13. Notices.
(a) Any notice under this Contract shall be in wi iting and shall be deemed to have been
served if (i) delivered in person to the address set forth below for the party to whom the notice is given,
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(ii) delivered in person at the Closing (if that party is present at the Closing), (iii) placed in the United
States mail, return receipt requested, addressed to such party at the address specified below, or (iv)
deposited into the custody of Federal Express Corporation to be sent by FedEx Overnight Delivery or
other reputable overnight cairier for next day delivery addressed to the party at the address specified
below.
(b) The address of Purchaser under this Contract is:
City of Fort Worth
1000 Throckmorton Street
Fort Worth, Texas 76102
Attention: Lexington Wright
Telephone: 817-392-6645
(c) The address of Seller under this Contract is:
Lewisville 7 Partners, Ltd.
Attn• Larry R. Gill
3045 Lackland Road
Fort Worth, Texas 76116
Telephone: 214-926-2680
With a copy to:
Leann D. Guzman
City Attorney's Office
City of Fort Worth
1000 Throckmorton
Fort Worth, Texas 76102
Telephone: (817) 392-7600
(d) From time to time either party may designate another
Contract by giving the othei party advance written notice of the change.
Section 14. Termination, Default, and Remedies.
With a copy to:
Benjamin H. Compton
3045 Lackland Rd.
Fort Worth, Texas 76116
Telephone: 817-717-7143
address or fax number under this
(a) If Purchaser fails or refuses to consummate the purchase of the Property pursuant to this
Contract at the Closing for any reason othei than termination of this Contract by Purchaser pursuant to a
right so to terminate expressly set forth in this Contract or Seller's failure to perform Seller's obligations
under this Contract, then Seller, as Seller's sole and exclusive remedy, shall have the right to terminate
this Contract by giving written notice thereof to Purchaser, whereupon neither party hereto shall have any
further rights or obligations hereunder At that time, the Title Company is instructed to deliver the Earnest
Money to Seller as liquidated damages and agreed upon damages. Purchaser and Seller acknowledge that
they have discussed the impracticality and extreme difficulty of fixing the actual damages to Seller in the
event of Purchaser's default The parties agree that the amount of the Earnest Money represents a
reasonable estimate of the actual damages Seller would incur in the case of such a default by Put chaser,
and Seller intends that Purchaser be able to limit its potential liability to Seller in the event that this
transaction fails to close.
(b) If (1) Seller fails or refuses to timely consummate the sale of the Property pursuant to this
Contract at Closing (2) at the Closing any of' Seller s representations, warranties or covenants contained
herein is not true or has been breached or modified, or (3) Seller fails to perform any of Seller's other
obligations hereunder either prior to or at the Closing for any reason other than the termination of this
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Contract by Seller pursuant to a right so to terminate expressly set forth in this Contract or Purchaser's
failure to perform Purchaser's obligations under this Contract, then Purchaser shall have the right to:
(i) terminate this Contract by giving written notice thereof to Seller prior to or at the
Closing and neither party hereto shall have any further rights or obligations hereunder;
at that time the Title Company is instructed to return the Earnest Money (including all
interest earned thereon) to Purchaser;
(ii) waive, prior to or at the Closing, the applicable objection or condition and proceed to
close the transaction contemplated hereby in accordance with the remaining terms hereof;
or
(iii) enforce specific performance of Seller's obligations under this Agreement.
Section 15. Survival of Obligations. To the extent necessary to carry out the terms and provisions
hereof, the terms, conditions, warranties, representations, obligations and rights set forth herein shall not
be deemed terminated at the time of the Closing nor shall they merge into the various documents
executed and delivered at the time of the Closing. All representations and warranties by Seller in this
Agreement (i) will expire one year after the Closing as to matters for which Purchaser has not provided
written notice to Seller within such period of time; and (ii) will expire as to all matters specified in any
such written notice to the extent that such matters ate not resolved or made the subject of litigation
instituted prior to the expiration of one year after the Closing
Section 16. Entire Contract. This Contract (including the attached Exhibits) contains the entire
contract between Seller and Purchaser and no oral statements or prior written matter not specifically
incorporated herein is of any force and effect. No modifications are binding on either party unless set
forth in a document executed by that party
Section 17. Assigns. This Contract inures to the benefit of and is binding on the parties and their
respective legal representatives, successors, and assigns. Neither party may assign its interest under this
Contract without the prior written consent of the other party
Section 18. Taking Prior to Closing. If, prior to Closing, the Property or any portion thereof
becomes subject to a taking by virtue of eminent domain, Purchaser may, in Purchaser's sole discretion
either (i) terminate this Contract and neither party shall have any further rights or obligations hereunder
or (ii) proceed with the Closing of the transaction with an adjustment in the Purchase Price to reflect the
net square footage of the Property after the taking.
Section 19. Governing Law. This Contract shall be governed by and construed in accordance with
the laws of the State of Texas.
Section 20. Performance of Contract. The obligations under the terns of the Contract are
performable in Tarrant County, Texas, and any and all payments under the terms of the Contract are to be
made in Tarrant County, Texas.
Section 21. Venue. Venue of any action brought under this Contract shall be in Tarrant County,
Texas if venue is legally proper in that County.
Section 22 Severabilitv. If any provision of this Contract is held to be invalid, illegal, or
unenforceable in any respect, such invalidity, illegality, or unenforceability will not affect any other
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provision, and this Contract will be construed as if such invalid, illegal, or unenforceable provision had
never been contained herein.
Section 23. Business Days/Effective Date. If the Closing or the day for performance of any act
required under this Contract falls on a Satuiday, Sunday, or legal holiday then the Closing or the day for
such performance, as the case may be, shall be the next following iegular business day.
Section 24. Counterparts. This Contract may be executed by facsimile, email or otherwise in
multiple counterparts, each of which shall be deemed an original, but all of which shall constitute
one and the same instrument.
Section 25. Terminology. The captions beside the section numbers of this Contract are for reference
only and do not modify or affect this Contract in any manner. Wherever required by the context, any
gender includes any other gender, the singular includes the plural, and the plural includes the singular.
Section 26. Construction. The parties acknowledge that each party and its counsel have reviewed
and revised this Contract and that the normal rule of construction to the effect that any ambiguities are to
be resolved against the drafting party is not to be employed in the interpretation of this Contract or any
amendments or exhibits to it
Section 27. Attornev's Fees. If any action at law or in equity is necessary to enforce or interpret the
terms of this Contract, the prevailing party or parties are entitled to reasonable attorneys' fees, costs and
necessary disbursements in addition to any other relief to which such party or parties may be entitled.
Section 28. Real Estate License. Tim H. Fleet, a principal for Seller, is a licensed Texas real
estate broker. Seller shall pay all fees due to Tim Fleet.
Section 29. Existing Development Plans. Purchaser acknowledges and approves Seller's
current proposed development process for the Summer Creek South, Phase 4 FP-013-020 plat
according to the engineering plans prepared by Welch Engineering, Inc. Grading and retaining
walls will be provide for the transition from the adjacent lots and the interior street right-of-way
at a maximum of 4:1 slope per Exhibit "D" being sheet No. 14 of the approved plans DOF 7179,
File No. W-2299, City Project No. 02220.
Section 30. Texas Notices. Texas law requires the following statutory notices:
A. ABSTRACT OR TITLE POLICY: Purchaser should have an abstract of
title covering the Property examined by an attorney of Purchaser's selection or Purchaser
should be furnished with or obtain a Title Policy. If a Title Policy is furnished, the
Commitment should be promptly reviewed by an attorney of Purchaser's choice due to the
time limitations on Purchaser's right to object.
B PROPERTY OWNERS ASSOCIATIONS) MANDATORY
MEMBERSHIP: The Property may be subject to mandatory membership in a property
owners association(s). If the Property is subject to mandatory membership in a property
owners association(s), Seller notifies Purchases under § 5 012, Texas Property Code that, as
a purchaser of property in the residential community in which the Property is located, if any,
you are obligated to be a member of the property owners association(s). Restrictive
CFW Purchase from Lewisville 7 Partners, Ltd.
Chisholm Trail Park
Page 10 of 15
covenants governing the use and occupancy of the Property and a dedicatory instrument
governing the establishment, maintenance, and operation of this residential community have
been or will be recorded in the Real Property Records of the county in which the Property is
located. Copies of the restrictive covenants dedicatory instrument may be obtained fiom the
county clerk. Purchaser is obligated to pay assessments to the property owners
association(s). The amount of the assessments is subject to change. Purchaser's failure to
pay the assessments could result in a lien on and the foreclosure of the Property.
Nothwithstanding the above, Seller hereby certifies that the Proeprty is currently not subject
to a Property Owner's Association. Seller shall not file any documents that would cause the
Property to be subject to a Property Owners Association.
C. STATUTORY TAX DISTRICTS: If the Property is situated in a utility or
other statutorily created district providing water, sewer, drainage, or flood control facilities
and services, Chaptei 49, Texas ' Water Code, requires Seller to deliver and Purchaser to sign
the statutory notice relating to the tax rate, bonded indebtedness, or standby fee(s) of the
district prior to final execution of this contract.
D. TIDE WATERS: If the Property abuts the tidally influenced waters of the
state, S 33.135, Texas Natural Resources Code, requires a notice regarding coastal area
property to be included as part of this contract.
GULF INTERCOASTAL WATERWAY: If the Property is located
seaward of the Gulf Intercoastal Waterway, 5 61.025, Texas Natural Resources Code,
requires a notice regarding the seaward location of the Property to be included as part of this
contract.
F. ANNEXATION: If the Property is located outside the limits of a
municipality, Seller notifies Pui chaser under & 5.011, Texas Property Code, that the Property
may now or later be included in the extraterritorial jurisdiction ("ETJ"), of a municipality and
may now or later be subject to annexation by the municipality Each municipality maintains a
map that depicts its boundaries and ETJ. To determine if the Property is located within a
municipality's ETJ, Purchaser should contact all municipalities located in the general
proximity of the Property for further information.
G. PROPERTY LOCATED IN A CERTIFICATED SERVICE AREA OF A
UTILITY SERVICE PROVIDER• Notice required by § 13.257, Texas Water Code: The real
property, described herein, that Purchaser is about to purchase may be located in a
certificated water or sewer service area, which is authorized by law to provide water or sewer
service to the properties in the certificated area If the Property is located in a certificated
area there may be special costs or charges that Puichaser will be required to pay before
Purchaser can receive water or sewer service. There may be a period required to construct
lines or other facilities necessary to provide water or sewer service to the Property.
Purchaser is advised to determine if the Property is in a certificated area and contact the
utility service provider to determine the cost that Purchaser will be required to pay and the
period, if any that is required to provide water or sewer service to the Property. The
CFW Purchase from Lewisville 7 Partners, Ltd.
Chisholm Trail Park
Page 11 of 15
undersigned Purchaser hereby acknowledges receipt of the foregoing notice at or before the
execution of a binding contract for the purchase of the real property described herein or at
closing of the purchase of the real property.
H. PUBLIC IMPROVEMENT DISTRICTS: If the Property is in a public
improvement district, & 5.014, Texas Property Code. requires Seller to notify Purchaser as
follows: As a purchaser of this parcel of real property Purchaser is obligated to pay an
assessment to a municipality or county for an improvement project undertaken by a public
improvement district under Chapter 372, Texas Local Government Code. The assessment
may be due annually or in periodic installments. More information concerning the amount
of the assessment and the due dates of that assessment may be obtained from the
municipality or county levying the assessment. The amount of the assessments is subject to
change Purchaser's failure to pay the assessments could result in a lien on and the
foreclosure of Purchaser's property.
I. TEXAS AGRICULTURAL DEVELOPMENT DISTRICT: The Property
may be located in a Texas Agricultural Development District. For additional information,
contact the Texas Department of Agriculture.
[SIGNATURES APPEAR ON THE FOLLOWING PAGE]
CFW Purchase from Lewisville 7 Partners, Ltd.
Chisholm Trail Park
Page 12 of 15
Name:
Title:
Date:
This Contract is EXECUTED as of the Effective Date.
SELLER:
Lewisville 7 Partners, Ltd.
A Texas Limited Partnership
By: Windfall Invest s, INC.
A Texas Gene •. ' . -tnership
(CI
�resid�n-I
g/zs/is
PURCHASER:
CITY OF FORT WORTH, TEXAS
By:
Name: Jesus J. Chapa, Assistant City Manager
Date:
•
rfr--,,thc(17
P%C/ty Secretary
M&C: Lr- t SI SS
Date: a - 3 e ?WS
APPROVED AS TO LEGALITY AND FORM
g000tC
Assistant City Attorney
CFW Purchase from Lewisville 7 Partners, Ltd.
Chisholm Trail Park
Page 13 of 15
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
By its execution below, Title Company agrees to perform its other duties pursuant to the provisions of
this Contract
TITLE COMPANY:
By:
Name.
Title:
Date:
CFW Purchase from Lewisville 7 Partners, Ltd.
Chisholm Trail Park
Page 14 of 15
EXHIBIT "A"
Description of Property
Being a tract of land out of the J. J. Albirado Survey, Abstract No. 4 and situated in the City of Fort
Worth, Tarrant County, Texas, and surveyed by Miller Surveying, Inc. of Hurst, Texas in November
2014 said tract being a portion of the same tract of land described in the deed to Lewisville 7 Partners
recorded in Volume 11870, Page 1303 in the Deed Records of Tarrant County Texas and being more
particularly described by metes and bounds as follows:
Beginning at a 3/4 inch steel rod found for the southwest corner of said Lewisville tract;
Thence North 00 degrees 29 minutes 54 seconds West with the westerly boundary line of said Lewisville
tract a distance of 16.04 feet to a 1/2 inch ' MILLER 5665" capped steel rod set in the easterly right-of-
way line of Summer Cieek Drive said tod being the beginning of a curve to the left with a radius of
891.24 feet and whose chord bears North 13 degrees 17 minutes 22 seconds East at 228.32 feet;
Thence northerly with said right-of-way line and with said curve through a central angle of 14 degrees 43
minutes 07 seconds and an arc length of 228.95 feet to a 1/2 inch "MILLER 5665" capped steel rod set
for the end of said curve;
Thence North 89 degrees 29 minutes 37 seconds East a distance of 125.63 feet to a 1/2 inch "MILLER
5665" capped steel rod set;
Thence South 00 degrees 30 minutes 23 seconds East a distance of 38.58 feet to a 1/2 inch "MILLER
5665 ' capped steel rod set for the beginning of a curve to the right with a radius of 30.50 feet and whose
chord bears South 14 degiees 10 minutes 55 seconds West at 15.64 feet
Thence southerly with said curve through a central angle of 29 degrees 22 minutes 36 seconds and an arc
length of 15 64 feet to a 1/2 inch ' MILLER 5665" capped steel rod set for the beginning of a curve to the
left with a radius of 50.00 feet and whose chord bears South 27 degiees 41 minutes 22 seconds East at
83.45 feet;
Thence southeasterly with said curve through a central angle of 113 degrees 07 minutes 10 seconds and
an arc length of 98.72 feet to a 1/2 inch "MILLER 5665" capped steel iod set for the end of said curve;
Thence South 05 degrees 45 minutes 04 seconds West a distance of 110.61 feet to a 1/2 inch "MILLER
5665" capped steel rod set in the southerly boundary line of said Lewisville tract
Thence South 89 degrees 28 minutes 49 seconds West with said southerly boundary line a distance of
202.22 feet to the point of beginning and containing 0.8848 acre of land more or less.
FIELD NOTE DESCRIPTION OF A 0.0905 ACRE
ONCOR ELECTRIC DELIVERY COMPANY, LLC EASEMENT
Being a tract of land out of the J. J. Albirado Survey, Abstrac No. 4 and situated in the City of Fort Worth, Tarrant County, Texas, and
surveyed by Miller Surveying, Inc. of Hurst, Texas in May of 2015, said tract being a portion of the same tract of land described in the
deed to Lewisville 7 Partners recorded in Volume 11870, Page 1303 in the Deed Records of Tarrant County, Texas and being more
particularly described by metes and bounds as follows:
Commencing at a 3/4 inch steel rod found for the southwest corner of said Lewisville tract; Thence North 89 degrees 28 minutes 49
seconds East with the southerly boundary line of said Lewisville tract a distance of 192.16 feet to the point of beginning of the tract
described herein•
Thence North 05 degrees 45 minutes 04 seconds East a distance of 92.43 feet to the beginning of a curve to the right with a radius of
70.00 feet and whose chord bears North 23 degrees 34 minutes 58 seconds West at 111.00 feet;
Thence northerly with said curve through a central angle of 104 degrees 54 minutes 22 seconds and an arc length of 128 17 feet to the
beginning of a curve to the left with a radius of 10.50 feet and whose chord bears North 14 degrees 10 minutes 55 seconds East at 5.32
feet;
Thence northerly with said curve through a central angle of 29 degrees 22 minutes 36 seconds and an arc length of 5.38 feet to the end
of said curve;
Thence North 00 degrees 30 minutes 23 seconds West a distance of 28.58 feet;
Thence South 89 degrees 29 minutes 37 seconds West a distance of 85.63 feet;
Thence South 00 degrees 30 minutes 23 seconds East a distance of 10.00 feet;
Thence South 89 degrees 29 minutes 37 seconds West a distance of 22.49 feet to the westerly boundary line of said Lewisville tract and
to easterly right-of-way Tine Summer Creek Drive, same being in a curve to the left with a radius of 891.24 feet and whose chord bears
North 06 degrees 34 minutes 41 seconds East at 20.15;
Thence northerly with said westerly boundary line and said easterly right-of-way line and with said curve through a central angle of 01
degrees 17 minutes 44 seconds and an arc length of 20.15 feet to a 1/2 inch "MILLER 5665" capped steel rod set
Thence North 89 degrees 29 minutes 37 seconds East a distance of 115.63 feet;
Thence South 00 degrees 30 minutes 23 seconds East a distance of 38.58 feet to the beginning of a curve to the right with a radius of
20.50 feet and whose chord bears South 14 degrees 10 minutes 55 seconds West at 10.40 feet;
Thence southerly with said curve through a central angle of 29 degrees 22 minutes 36 seconds and an arc Length of 10.51 feet to the
beginning of a curve to the left with a radius of 60.00 feet and whose chord bears South 27 degrees 41 minutes 22 seconds East at
100.14 feet;
Thence southeasterly with said curve through a central angle of 113 degrees 07 minutes 10 seconds and an arc length of 118.46 feet to
the end of said curve;
Thence South 05 degrees 45 minutes 04 seconds West a distance of 100.61 feet to the southerly boundary line of said Lewisville tract;
Thence South 89 degrees 28 minutes 49 seconds West with said southerly boundary line a distance of 10.06 feet to the point of
beginning and containing 0.0905 acre of land, more or less
I, Jason B, Rawlings, Registered
Professional Land Surveyor No 5665
in the State of Texas, certify that this
plat represents an accurate survey
made on the ground under my
supervision on May 19, 2015 of the
two tracts described herein, and that
the boundary lines, corners and
dimensions shown herein are as
indicated.
SHEET ONE OF TWO
Residential • Commercial • Municipal
430 Mid Cities Blvd.
Hurst, Texas 76054
817.577.1052 Fax 817.577.0972
www.MiilerSurveying-Ine.com
Job No. 13134 Plot Fife 14134 SW Oncor Esmt
Length - 20 15'
Radius - 891 24'
Cen. Angle - 01°17'44"
Chord - N 06°34'41"E
20.15'
S 89°29'37"W
22.49'
DE
1-4
N 89°29'37"E 115.63'
S 00°30123"E
10 00'
N 00°30'23"W
28 58'
Length - 5.38'
Radius - 10.50'
Cen. Angle - 29°22'36"
Chord - N 14°10'55"E
5.32'
Length - 128.17'
Radius - 70 00'
Cen Angle - 104°54'22'
Chord - N 23°34'58"W
111.00'
0.0905 AC ! E
ONCOR ELECTRIC
IVERY COMPANY LLC
P ASH,MENT
P.O.C.
3/4"steel
rod found
N 89°28'49"E 192.16'
SOUTHWEST COMMUNITY PARK
CAB B SLIDE 1832 P R.T.C.T.
OWNER - CITY OF FORT WORTH
0 v 1 /2" "MILLER 5665"
capped steel rod set
SHEET TWO OF TWO
LEWISVILLE 7 PARTNERS
o VOL. 11870, PG, 1303 D R.T.C.T.
S 00°30'23"E
38.58' Length - 10.51'
Radius - 20.50'
Cen. Angle - 29°22'36"
Chord - S 14°10'55"W
0 10.40'
Length - 118.46'
Radius - 60 00'
Cen Angle - 113°07 10"
Chord - S 27°41122"E
100.14'
10,0►
w-
to N
r9' crl
in
0
O
P.O.B
0
0 to
ih Ort.
to'-'
0
5 89°28'49"W
10 06'
Residential • Commercial • Municipal
430 Mid Cities Blvd.
Hurst, Texas 76054
817.577 1052 Fax 817.577.0972
www.MillerSurveying-Inc.com
Job No. 13134 0 Plot File 14134 SW Oncor Esmt
THE STATE OF TEXAS
COUNTY OF TARRANT
EASEMENT AND RIGHT OF WAY
§
§
§
District: FW North
WR #:3275822/3276926
ER #:
KNOW ALL MEN BY THESE PRESENTS:
That Lewisville 7 Partners, Ltd., a Texas limited partnership, hereinafter called
"Grantor," whether one or more, for and in consideration of Ten Dollars ($10.00) and other
valuable consideration to Grantor in hand paid by Oncor Electric Delivery Company LLC,
a Delaware 1►mited liability company, 1616 Woodall Rodgers Freeway, Dallas, Texas
75202-1234, hereinafter referred to as "Grantee", has granted, sold and conveyed and by
these presents does grant, sell and convey unto said Grantee, its successors and assigns
an easement and right-of-way for underground electric supply and communications lines
consisting of a variable number of wires and cables, surface mounted equipment, conduits,
manholes, vaults, transformers switches, protection, sectionalizing devices and all
necessary or desirable appurtenances over, under, across and upon Grantor's land
described as follows:
SEE EXHIBIT "A" (ATTACHED)
Grantor recognizes that the general course of said lines, or the metes and bounds
as above described, is based on preliminary surveys only, and Grantor hereby agrees that
the easement and right-of-way and its general dimensions hereby granted shall apply to
the actual location of said lines when constructed
Together with the right of ingress and egress along and upon said easement and
right-of-way and over and across Grantor's adjoining properties for the purpose of and with
the right to construct, maintain, operate, repair, remove, replace reconstruct, abandon in
place, and to change the size and capacity of said facilities; the right to relocate said
facilities in the same relative direction of said facilities; the right to relocate said facilities in
the same relative position to any adjacent road if and as such road is widened in the future;
the right to lease wire space for the purpose of permitting others to string or lay wire or
cable along said facilities; the nght to prevent excavation within the easement area, the
right to prevent construction of, within the easement area any and all buildings, structures
or other obstructions which, in the sole judgment of Grantee, may endanger or interfere
with the efficiency, safety, and/or convenient operation of said facilities and their
appurtenances and the right to trim or remove trees or shrubbery within, but not limited to,
said easement area including by use of herbicides or other similar chemicals approved by
the U.S Environmental Protection Agency, to the extent in the sole judgment of Grantee,
as may be necessary to prevent possible interference with the operation of said facilities or
to remove possible hazard thereto Grantor shall not make changes in grade, elevation or
contour of the land or impound water within the easement area as described above without
prior written consent of Grantee.
UNDERGROUND EASEMENT AND RIGHT OF WAY FORM 50.3400 REV 2110I2009 2015-099 SOS
Grantor reserves the right to use the land within the above described easement area
for purposes not inconsistent with Grantee's use of such property, provided such use shall
not, in the sole judgment of Grantee, interfere with the exercise by Grantee of the rights
hereby granted.
TO HAVE AND TO HOLD the above described easement and rights unto the said
Grantee, its successors and assigns, until all of said Tines shall be abandoned and in that
event said easement and right-of-way shall cease and all rights herein granted shall
terminate and revert to Grantor or Grantors heirs, successors or assigns; and it does
hereby bind itself, its successors, legal representatives, and assigns, to warrant and forever
defend all and singular the above described easement and rights unto the said Grantee, its
successors and assigns, against every person whomsoever lawfully claiming or to claim
the same or any part thereof.
EXECUTED this
STATE OF TEXAS
COUNTY OF
§
§
§
day of . 2015.
Lewisville 7 Partners, Ltd.
a Texas limited Partnership
By• Windfall Investments, Inc.
a Texas corporation
its general partner
By.
Tim Fleet, President
BEFORE ME, the undersigned authority on this day personally appeared Tim Fleet,
as the President of Windfall Investments, Inc., a Texas corporation general partner
of Lewisville 7 Partners, Ltd., a Texas limited partnership, known to me to be the
person whose name is subscribed to the foregoing instrument and acknowledged to me
that he/she executed the same for the purposes and consideration therein expressed, in
the capacity therein stated and he/she is authorized to do so.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this day of
A. D. 2015.
Notary Public in and for the State of Texas
UNDERGROUND EASEMENT AND RIGHT OF WAY FORM 50.3400 REV 2J1O/2009 PAGE 2
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M&C Review
Page 1 of 2
COUNCIL ACTION: Approved on 2/3/2015
Official site of the City of Fort Worth, Texas
FORT WORTI 1
DATE: 2/3/2015 REFERENCE NO.: **L-15755 LOG NAME: 17SUMMERCREEK
CODE: L TYPE: CONSENT PUBLIC NO
HEARING:
SUBJECT: Authorize Acquisition of Approximately 0.8848 Acres of Land Located in the Summer
Creek South Addition Adjacent to Summer Creek Drive from Lewisville 7 Partners, Ltd., for
the Expansion of Chisholm Trail Park in the Amount of $150,000.00 Plus $15,000.00 for
Closing Costs and Dedicate the Property as Parkland (COUNCIL DISTRICT 6)
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the acquisition of approximately 0.8848 acres of land located in the Summer Creek
South Addition adjacent to Summer Creek Drive from Lewisville 7 Partners, Ltd., for the expansion of
Chisholm Trail Park in the amount of $150,000.00 plus $15,000.00 for closing costs;
2. Authorize the acceptance and recording of the appropriate instruments; and
3. Dedicate the property as parkland upon conveyance.
DISCUSSION:
Staff recommends acquiring approximately 0.8848 acres of land located in the Summer Creek South
Addition adjacent to the Chisholm Trail Community Park, from Lewisville 7 Partners, Ltd. Acquisition
of this land will allow the Parks and Community Services Department to provide access to the
northwest portion of the park from Summer Creek Drive.
The total purchase price of the property is in the amount of $150,000.00 and an additional amount of
$15,000.00 for closing costs.
This property is located in COUNCIL DISTRICT 6, Mapsco 103S.
FISCAL INFORMATION/CERTIFICATION:
The Financial Management Services Director certifies that funds are available in the current capital
budget, as appropriated, of Park Dedication Fees Fund.
TO Fund/Account/Centers FROM Fund/Account/Centers
1) C281 541100 806900251241 $165.000.00
Submitted for City Manacier's Office bv:
Originating Department Head:
Additional Information Contact:
Fernando Costa (6122)
Jay Chapa (5804)
Richard Zavala (5711)
Cynthia Garcia (8187)
David Creek (5744)
http://apps.cfwnet.org/council packet/mc_review.asp?ID=20721 &councildate
2/3/2015 3/10/2015
M&C Review Page 2 of 2
ATTACHMENTS
Chisholm Trail Park Map.Ddf
http://apps.cfwnet.org/council_packet/mc_review.asp?ID=20721 &councildate-2/3/20 15 3/10/2015