HomeMy WebLinkAboutContract 39106 CITY
ONTR CT NO. 1 � �
Record and Return to:
Jonathan B. Harshman, Esq.
Patton Boggs LLP
2001 Ross Avenue, Suite 3000
Dallas, Texas 75201
NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON,
YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING
INFORMATION FROM ANY INSTRUMENT THAT TRANSFERS AN INTEREST IN
REAL PROPERTY BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS:
YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER.
STIPULATION OF INTEREST
THE STATE OF TEXAS §
§ KNOW ALL PERSONS BY THESE PRESENTS:
COUNTY OF TARRANT §
This Stipulation of Interest (the "Stipulation"), effective as of July 20, 1998, is by and
among THE CITY OF FORT WORTH, a home rule municipal corporation of the State of Texas
located within Tarrant, Denton, and Wise Counties, Texas, whose address is 1000
Throckmorton, Fort Worth, Texas 76102, Attention: Director, Department of Housing and
Economic Development Department ("Fort Worth"), CENTREPORT VENTURE, INC., a
Massachusetts corporation whose address is c/o AEW Capital Management, L.P., World Trade
Center East, Two Seaport Lane, Boston, Massachusetts 02210-2021 ("Centreport"), and
KUBOTA TRACTOR CORPORATION, a California corporation, whose address is 3401 Del
Amo Blvd., Torrance, California 90509-2992, Attention: President ("Kubota"). Fort Worth,
Centreport, and Kubota are sometimes referred to herein individually as a "Party" and
collectively as the "Parties".
WHEREAS, pursuant to that certain General Warranty Deed recorded on July 20, 1998 at
Instrument Number D198160597 and in Book 13322, Page 387, of the Official Public Records of
Tarrant County, Texas (the "Centreport Deed"), Fort Worth conveyed to Centreport certain land
situated in Tarrant County, Texas, which land is more particularly described on Exhibit "A"
attached hereto and incorporated herein for all purposes (the "Property"); and
WHEREAS, pursuant to that certain Special Warranty Deed recorded on July 20, 1998 at
Instrument Number D198160604 and in Book 13322, Page 394, of the Official Public Records of
Tarrant County, Texas (the "Kubota Deed"), Centreport conveyed to Kubota a portion of the
Property, which portion is more particularly described on Exhibit `B" attached hereto and
incorporated herein for all purposes (the "Kubota Property"); and
09-10-09 P03 :29 IN
1 FOFFICIAL RECORD
510512.10 Y SECRETARY
T WORTH, TX
WHEREAS, the portion of the Property that was not expressly included in the Kubota
Deed is referred to herein as the "Road Property"; and
WHEREAS, the Parties desire to enter into this Stipulation to clarify the ownership of oil,
gas, and other liquid and gaseous hydrocarbons, together with such other substances that may be
produced incidental to and as a part thereof or mixed therewith (collectively, the
"Hydrocarbons"), in and under (i) the Property and (ii) those lands extending from the Property
to the centerline of any and all public alleys, streets, and highways that abut the Property (the
"Adjacent Lands").
NOW THEREFORE, for and in consideration of the premises and other good and
valuable consideration, the receipt and sufficiency of which are acknowledged, the Parties
hereby agree as follows:
1. To the extent not already granted in the Centreport Deed, Fort Worth hereby
GRANTS, BARGAINS, SELLS, and CONVEYS to Centreport the respective undivided 50%
interest, as set forth in Section 2 below, of Fort Worth in and to the Hydrocarbons in and under
the Adjacent Lands but subject to the items set forth on Exhibit "B" to the Centreport Deed, as
modified by this Stipulation. To the extent not already granted in the Kubota Deed, Centreport
hereby GRANTS, BARGAINS, SELLS, and CONVEYS to Kubota all interest, if any, of
Centreport in and to the Hydrocarbons in and under the Road Property and Adjacent Lands but
subject to the items set forth on Exhibit "B" to the Kubota Deed, as modified by this Stipulation.
2. The Parties hereby stipulate, acknowledge, and agree that their respective
undivided interests in the Hydrocarbons in and under the Property and Adjacent Lands are as
follows:
a. Fort Worth—50%;
b. Centreport—0%;
C. Kubota—50%.
3. To the extent not already granted in the Centreport Deed and/or in the Kubota
Deed, Fort Worth hereby GRANTS, BARGAINS, SELLS, and CONVEYS to Centreport, and
Centreport hereby GRANTS, BARGAINS, SELLS, and CONVEYS to Kubota, the exclusive
right to enter into, negotiate, and execute oil and gas leases (and amendments to oil and gas
leases) covering the Property and the Adjacent Lands, including Fort Worth's undivided 50%
interest in and to the Hydrocarbons in and under the Property and Adjacent Lands, without the
joinder or prior consent of Fort Worth.
4. TO HAVE AND TO HOLD the undivided interests, together with all and singular
the rights and appurtenances thereto in any wise belonging, unto the said Parties, their successors
and assigns, forever. Each Party hereby binds itself, its successors, and assigns to warrant and
forever defend all and singular the undivided interest in and to the Hydrocarbons in and under
the Property and the Adjacent Lands conveyed by virtue hereof unto the other Parties, and their
successors and assigns, against every person whomsoever lawfully claiming or to claim the
same, or any part thereof, by, through, or under the granting Party, but not otherwise.
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510512.10
5. The terms and provisions set forth in this Stipulation shall modify and supersede
all inconsistent terms and provisions set forth in the Centreport Deed and the Kubota Deed, and,
except as expressly modified and superseded by this Stipulation, the terms and provisions of the
Centerport Deed and Kubota Deed are ratified and confirmed and shall continue in full force and
effect.
6. This Stipulation shall be binding upon and shall inure to the benefit of the Parties
and their respective successors and assigns.
7. This Stipulation may be executed in any number of counterparts, each of which
shall be deemed to be an original, and all such counterparts shall constitute one instrument.
[Remainder of Page Intentionally Left Blank; Signature Page Follows.]
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510512.10
EXECUTED this ' ` _ day of , 2009 to be effective as of July 20, 1998.
THE CITY OF FORT WORTH,
a Texas municipal corporation
ATTEST:
By:
Name:
City Secretary of Vlort Worth, Texas Its:
APPROVED AS TO FORM
AND LEGALITY:
�!` ��/'iiti NO M&C ICE-QUIRED
A SISTANT CITY ATTORNEY
Fort Worth,Texas
THE STATE OF TEXAS §
COUNTY OF TARRANT §
This instrument was acknowledged before me on this day of 4 12009
by 7,- , the - C�A /14-A"a)/or the City of Fort Worth, Texas, a Texas
municipal corporation, on behalf of said unicipal corporation.
Notary Public in and for the State of Texas
ROSE LLABARNE$;
MY COMMISSION EXPIRES Printed Name of Notary: U
March 31,2013
My Commission Expires: 31 31 I a o
OFFICIAL REC]RY
CITY SECRET
510512.10 FT. WORTH,
CENTREPORT VENTURE, INC.,
a Massachusetts co tion
By:
Name: llamel J. e
Title: Vice President
STATE/COMMONWEALTH OF §
COUNTY 0��� §
THIS INSTRUMENT was acknowledged before me on the 2�� day of f ,
2009, , CENTREPORT VENTURE,
INC., a Massachusetts corporation, on behalf of said corporation.
otary Public in and for said County and
State/Commonwealth
Printed Name of Notary:
My Commission Expires:
A M.PRISCO
Notary Public
CO WEALTH OF MASSACHUSErTS
MY co muss"'n.Expires
Odot>e►18,20t3
a
OFFICIAL RECORD
CITY SECRETARY
510512.10 + FT;WORTH, TX
KUBOTA TRACTOR CORPORATION,
a California corporation
By:
Name: Yoshiyu z Fu_iita
Title: Vice President
STATE OF CA�\F } §
COUNTY OF §
THIS INSTRUMENT was acknowledged before me on the 18 day of AM611S 1 ,
2009, by V65K yu,► i U:ji"ro— , the V1c£ pP..&hdof KUBOTA TRACTOR
CORPORATION, a California corporation, on beW of said corporation.
c in and for said and
E, CpnmpNlon#F 1784267 State
ie
kw"PWDC -Co"fornlo C r
Los Ang"s Count' Printed Name of Notary:
My Commission Expires: ��FC , 9, 2.O 1�
510512.10
EXHIBIT "A"
BEING 23.362 acres of land, situated in the J. Goodman Survey, Abstract No. 583, Tarrant
County, Texas and being all of Area 3, Section 4, Block 312, Centreport, an addition to the City
of Fort Worth, Tarrant County, Texas, as recorded in Volume 388-208, Pages 50 & 51, County
Records, Tarrant County, Texas. Said 23.362 acres being more particularly described by metes
and bounds as follows:
BEGINNING at the centerline intersection of Buckingham Road (a 60 foot R.O.W.) and the
south right-of-way line of State Highway No. 183 (a variable width R.O.W.):
THENCE South 72°03'19" East, along said south right-of-way line, a distance of 135.31 feet to
a point for corner;
THENCE South 78'26'12" East, continuing along said south right-of-way line, a distance of
179.79 feet to a point for corner, said point being the point of curvature of a non-tangent curve to
the left, having a delta of 14°00'40", a radius of 1,610.40 feet and a tangent length of 197.89
feet;
THENCE southeasterly, along said south right-of-way line and along the arc of said non-tangent
curve to the left, a distance of 393.81 feet to a point for corner;
THENCE North 87°32'43" East, continuing along said south right-of-way line, a distance of
612.60 feet to a point for corner at the intersection of said south right-of-way line and centerline
of Cambridge Road (a 60 foot R.O.W.);
THENCE South 00°11'40" West, continuing along said centerline, a distance of 521.99 feet to a
point for corner, said point being the point of curvature of a curve to the right, having a delta of
42°53'43", a radius of 500.00 feet and tangent length of 196.43 feet;
THENCE southwesterly, along said centerline and along the arc of said curve to the right, a
distance of 374.53 feet to a point for corner;
THENCE South 43°05'24" West, continuing along said west right-of-way line, a distance of
253.19 feet to a point for corner, said point being the centerline intersection of said Cambridge
Road and F.A.A. Boulevard (a 92 foot R.O.W.), said point also being the point of curvature of a
non-tangent curve to the left, having a delta of 32°39'10", a radius of 2,200.00 feet and a tangent
length of 644.42 feet;
THENCE northwesterly, along said centerline and along the arc of said non-tangent curve to the
left, a distance of 1,253.77 feet to a point for corner, said point being the intersection of said
F.A.A. Boulevard and said Buckingham Road;
THENCE North 10°26'13" East, along said centerline, a distance of 582.32 feet to POINT OF
BEGINNING and CONTAINING 1,017,658 square feet or 23.362 acres of land, more or less.
Exhibit A—Page 1
510512.10
Exhibit "B"
BEING 20.848 acres of land, situated in the J. Goodman Survey, Abstract No. 583, Tarrant
County, Texas and being all of Area 3, Section 4, Block 312, Centreport, an addition to the City
of Fort Worth, Tarrant County, Texas, as recorded in Volume 388-208, Pages 50 & 51, County
Records, Tarrant County, Texas. Said 20.848 acres being more particularly described by metes
and bounds as follows:
BEGINNING at a found 1/2 inch iron rod for the intersection of the east right-of-way line of
Buckingham Road (a 60 foot R.O.W.) and the south right-of-way line of State Highway No. 183
(a variable width R.O.W.);
THENCE South 72 degrees 03 minutes 19 seconds East, along said south right-of-way line, a
distance of 70.52 feet to a found 5/8 inch iron rod;
THENCE South 78 degrees 26 minutes 12 seconds East, continuing along said south
right-of-way line, a distance of 179.79 feet to a found 5/8 inch iron rod, said point being the
point of curvature of a non-tangent curve to the left, having a delta of 14 degrees 00 minutes 40
seconds, a radius of 1,610.40 feet and a chord bearing and distance of South 85 degrees 24
minutes 55 seconds East, 392.82 feet;
THENCE southeasterly, along said south right-of-way line and along the arc of said non-tangent
curve to the left, a distance of 393.81 feet to a found 1/2 inch iron rod;
THENCE North 87 degrees 32 minutes 43 seconds East, continuing along said south
right-of-way line, a distance of 522.19 feet to a found 1/2 inch iron rod at the intersection of said
south right-of-way line and the west line of Cambridge Road (a 60 foot R.O.W.), said point also
being the point of curvature of a non-tangent curve to the right, having a delta of 70 degrees 44
minutes 25 seconds, a radius of 90.00 feet and chord bearing and distance of South 35 degrees 10
minutes 28 seconds East, 104.20 feet;
THENCE southeasterly, along said west right-of-way line and along the arc of said non-tangent
curve to the right, a distance of 111.12 feet to a found 1/2 inch iron rod;
THENCE South 00 degrees 11 minutes 40 seconds West, continuing along said west
right-of-way line, a distance of 432.85 feet to a found 1/2 inch iron rod, said point being the
point of curvature of a curve to the right, having a delta of 42 degrees 53 minutes 43 seconds, a
radius of 470.00 feet and a chord bearing and distance of South 21 degrees 38 minutes 31
seconds West, 343.71 feet;
THENCE southwesterly, along said West right-of-way line and along the arc of said curve to the
right, a distance of 351.87 feet to a set P. K. nail in manhole collar;
THENCE South 43 degrees 05 minutes 24 seconds West, continuing along said West
right-of-way line, a distance of 187.74 feet to a found 1/2 inch iron rod, said point being the
northeasterly end of a corner clip, forming the intersection of said west right-of-way line and the
north right-of-way line of F.A.A. Boulevard (a 92 foot R.O.W.), said point also being the point
EXHIBIT B—Page 1
510512.10
of curvature of a non-tangent curve to the right, having a delta of 88 degrees 44 minutes 08
seconds, a radius of 20.00 feet and a chord bearing and distance of South 87 degrees 27 minutes
24 seconds West, 27.97 feet;
THENCE southwesterly, along said corner clip and along the arc of said non-tangent curve to the
right, a distance of 30.97 feet to a found 1/2 inch iron rod, said point being in the north
right-of-way line of said F.A.A. Boulevard, said point also being the point of curvature of a non-
tangent curve to the left, having a delta of 30 degrees 07 minutes 26 seconds, a radius of
2,246.00 feet and a chord bearing and distance of North 63 degrees 14 minutes 12 seconds West,
1,167.31 feet;
THENCE northwesterly, along said north right-of-way line and along the arc of said non-tangent
curve to the left, a distance of 1,180.86 feet to a found 1/2 inch iron rod, said point being the
southeasterly end of a corner clip,forming the intersection of said north right-of-way line and the
east right-of-way line of said Buckingham Road, said point being the point of curvature of a
non-tangent curve to the right, having a delta of 88 degrees 44 minutes 08 seconds, a radius of
20.00 feet and a chord bearing and distance of North 33 degrees 55 minutes 55 seconds West,
27.97 feet;
THENCE northwesterly, along said corner clip and along the arc of said non-tangent curve to the
right, a distance of 30.97 feet to a found 1/2 inch iron rod, said point being in the East
right-of-way line of said Buckingham Road;
THENCE North 10 degrees 26 minutes 13 seconds East, along said east right-of-way line, a
distance of 437.77 feet to a found 1/2 inch iron rod, said point being the point of curvature of a
curve to the right, having a delta of 51 degrees 42 minutes 33 seconds, a radius of 90.00 feet and
a chord bearing and distance of North 36 degrees 17 minutes 32 seconds East, 78.50 feet;
THENCE northeasterly, along said east right-of-way line and along the arc of said curve to the
right, a distance of 81.22 feet to the POINT OF BEGINNING and CONTAINING 908,160
square feet or 20.848 acres of land, more or less.
EXHIBIT B—Page 2
510512.10