HomeMy WebLinkAboutContract 45270 (2)CONTRACT OF SALE AND PURCHASE
(Sale by City of Fort Worth)
CITY SECRETARY ^nIUiRACT►yp.��
THIS CONTRACT OF SALE AND PURCHASE ("Contract") is made and entered into
by and between 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 ("Seller") and James D. Finley (collectively, "Purchaser") as of the date on which this
Contract is executed by the last to sign of Seller and Purchaser ("Effective Date").
RECITALS
1. Seller is the owner of a 30.512 acre parcel of land out of the A. Van Nordstrand Survey,
Abstract No 1583, and the J. Foote Survey, Abstract No. 534, Fort Worth, Tarrant
County, Texas, together with any easements, rights -of -way, licenses, interests, and rights
appurtenant thereto (collectively, the "Property"), as shown and more particularly
described on the attached Exhibit "A", incorporated herein for all purposes.
2. The Property is within 5,000 feet of the shoreline of where Lake Worth's shoreline would
be if it were filled to its storage capacity.
3. Purchaser is the current lessee of the Property pursuant to a lease between Purchaser and
Seller dated March 7, 2013 (the "Lease"); and
4. Purchaser desires to purchase the property and Seller desires to sell the Property for fair
market value to Purchaser in accordance with Texas Local Government Code 272.001(h).
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 the Property to Purchaser, and Purchaser agrees to
purchase and accept the Property from Seller, for the Purchase Price (as defined below), subject
to the terms and conditions set forth in this Contract.
(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 the Encumbrances appearing in the
Title Commitment (as defined below in Section 3) and the survey (as defined below) that are not
cured and that are subsequently waived pursuant to Section 3 below ("Permitted
Encumbrances"). The Lease shall be terminated upon Closing (as defined below).
(c) Seller shall retain all mineral interests inthe_Pz9p
to Purchaser the right of ingress and egress to an 7 from the
UFFICIA� 6�
CITY SECRETARY
CFW Sale to James D. Finley
feller waives and conveys
tile Property relating to the
Page 1 of 40
portion of the mineral estate owned by Seller including, without limitation, the right to enter
upon the Property for the exploration and/or removal of oil, gas and minerals, and the right to
place or maintain any structures, improvements, equipment or pipelines in, on, under or across
the Property or on the surface of the Property. The provisions of this Section 1(c) shall be
incorporated into the Deed.
(d) Purchaser shall use best management practices of the Property to preserve the
water quality of Lake Worth. This provision shall survive Closing of the Property.
(e) To protect the public health, safety or welfare and to ensure an adequate
municipal water supply, the Property is not eligible for and Purchaser is not entitled to the
exemption provided by Section 11.142(a), Water Code relating to the storage of water in a dam
or reservoir.
Section 2. Independent Contract Consideration. Purchase Price, and Earnest Money.
(a) Contemporaneously with the execution of this Contract, Purchaser delivers to
Seller a check in the amount of Fifty and 00/100 Dollars ($50.00) as independent consideration
for Seller s execution, delivery, and performance of this Contract ("Independent Contract
Consideration") This Independent Contract Consideration is in addition to and independent of
any other consideration or payment provided for in this Contract, is nonrefundable, and shall be
retained by Seller notwithstanding any other provision of this Contract. The Independent
Contract Consideration shall be applied to the Purchase Price at Closing.
(b) The purchase price ("Purchase Price") for the Property, payable by Purchaser to
Seller in cash at closing (defined below), is Nine Hundred Fifteen Thousand Thiee Hundred
Sixty Dollars and 00/100 ($915,360.00). Seller has obtained an appraisal of the Property and has
determined that the Purchase Price reflects the current fair market value of the Pioperty. Any
easements retained by the City will be at no cost to the City.
(c) Within three (3) business days after the execution and delivery of this Contract by
Seller and Purchaser, Purchaser shall deliver to the Title Company of Purchaser's choice ("Title
Company") a check payable to the order of Title Company in the amount of
ONE THOUSAND AND NO/100 DOLLARS ($1,000.00) ("Earnest Money"), which Earnest
Money shall be held in escrow and delivered by Title Company in accordance with the
provisions of this Contract.
Section 3. Title Commitment and Survey.
(a) Within thirty (30) days after the Effective Date, Purchaser may obtain, at
Purchaser's sole cost and expense (i) a Commitment for Title Insurance and Title Policy ("Title
Commitment") from the Title Company, setting forth the status of the title of the Property and
showing all Encumbrances and other matters, if any, relating to the Property and (ii) a legible
copy of all documents referred to in the Title Commitment, including but not limited to, plats,
reservations, restrictions, and easements.
CFW Sale to James D. Finley Page 2 of 40
(b) Within twenty-five (25) days after the Effective Date, Purchaser shall obtain, at
Purchaser's sole cost and expense, an updated survey ("Survey') consisting 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 Purchasei 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, (iv) identify a 30 ft. access easement from Seller to Purchaser across
Seller's adjacent property for Purchaser's use to construct and maintain a driveway to Cahoba
Drive, (v) identify a temporary construction easement on the untreed/open area on the western
side of the property on Cahoba Drive for the construction of a recreation trail on Seller s adjacent
property, and (vi) 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 Survey will be used in all of the
documents set forth in this Contract that requires a legal description of the Property.
(c) If the Title Commitment or Survey discloses any Encumbrances or other matters
that are not acceptable to Purchaser in Purchaser's sole discretion, then Purchaser shall give
Seller written notice thereof within fifteen (15) days after receipt of the Title Commitment,
Survey and all documents referred to in the Title Commitment, specifying Pui chaser's objections
("Objections' ), if any. If Purchaser gives such notice to Seller, Seller shall use its best efforts to
cure the Objections, but shall be under no obligation to do so.
(d) If Purchaser gives notice of Objections and Seller does not cure the Objections,
cause the Title Commitment and Survey to be amended to give effect to matters that are cured,
and give Purchaser written notice thereof within the fifteen (15) day period following receipt of
the notice from Purchaser ("Cure Period"), Purchaser shall have the right either:
(i) to terminate this Contract by giving written notice thereof to Seller at any time
after the expiration of such Cure Period but prior to the expiration of the option
period (as defined below), and, upon such termination, Purchaser shall be entitled
to the return of the Earnest Money, and neither party hereto shall have any further
rights or obligations, or
(ii) to waive the Objections and consummate the purchase of the Property subject
to the Objections which shall be deemed to be Permitted Encumbrances.
Notwithstanding the foregoing sentence, if Seller has commenced curing the Objections and is
diligently prosecuting the same, as determined by Purchaser in Purchaser's sole discretion, then
Purchaser in Purchaser's sole discretion may extend the Cure Period for an amount of time
Purchaser deems necessary for Seller to cure the same.
Section 4. Review Reports. Within five (5) days after the Effective Date, Seller shall
deliver to Purchaser for Purchaser's review any environmental or engineering reports and studies
in Seller's possession concerning the Property ("Reports").
Section 5. Representations. Warranties. "AS IS"
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(a) EXCEPT AS EXPRESSLY STATED IN THIS AGREEMENT, PURCHASER
ACKNOWLEDGES AND AGREES THAT SELLER HAS NOT MADE, DOES NOT
MAKE AND SPECIFICALLY NEGATES AND DISCLAIMS ANY
REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS, AGREEMENTS
OR GUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER
EXPRESS OR IMPLIED, ORAL OR WRITTEN, PAST, PRESENT OR FUTURE, OF,
AS, TO CONCERNING OR WITH RESPECT TO (A) THE VALUE, NATURE,
QUALITY OR CONDITION OF THE PROPERTY INCLUDING, WITHOUT
LIMITATION, THE WATER, SOIL AND GEOLOGY, (B) THE INCOME TO BE
DERIVED FROM THE PROPERTY, (C) THE SUITABILITY OF THE PROPERTY
FOR ANY AND ALL ACTIVITIES AND USES WHICH PURCHASER MAY CONDUCT
THEREON, (D) THE COMPLIANCE OF OR BY THE PROPERTY OR ITS
OPERATION WITH ANY LAWS, RULES, ORDINANCES OR REGULATIONS OF
ANY APPLICABLE GOVERNMENTAL AUTHORITY OR BODY, (E) THE
HABITABILITY, MERCHANTABILITY, MARKETABILITY, PROFITABILITY OR
FITNESS FOR A PARTICULAR PURPOSE OF THE PROPERTY, (F) THE MANNER
OR QUALITY OF THE CONSTRUCTION OR MATERIALS, IF ANY,
INCORPORATED INTO THE PROPERTY, (G) THE MANNER, QUALITY, STATE OF
REPAIR OR LACK OF REPAIR OF THE PROPERTY, OR (H) ANY OTHER MATTER
WITH RESPECT TO THE PROPERTY, AND SPECIFICALLY, THAT SELLER HAS
NOT MADE, DOES NOT MAKE AND SPECIFICALLY DISCLAIMS ANY
REPRESENTATIONS REGARDING COMPLIANCE WITH ANY ENVIRONMENTAL
PROTECTION, POLLUTION OR LAND USE LAWS, RULES, REGULATIONS,
ORDERS OF REQUIREMENTS, INCLUDING SOLID WASTE, AS DEFINED BY THE
U. S. ENVIRONMENTAL PROTECTION AGENCY REGULATIONS AT 40 C.F.R.,
PART 261, OR THE DISPOSAL OR EXISTENCE IN OR ON THE PROPERTY, OF
ANY HAZARDOUS SUBSTANCE, AS DEFINED BY THE COMPREHENSIVE
ENVIRONMENTAL RESPONSE COMPENSATION AND LIABILITY ACT OF 1980,
AS AMENDED, AND REGULATIONS PROMULGATED THEREUNDER.
PURCHASER FURTHER ACKNOWLEDGES AND AGREES THAT HAVING BEEN
GIVEN THE OPPORTUNITY TO INSPECT THE PROPERTY, PURCHASER IS
RELYING SOLELY ON ITS OWN INVESTIGATION OF THE PROPERTY AND NOT
ON ANY INFORMATION PROVIDED OR TO BE PROVIDED BY SELLER. AS A
MATERIAL PART OF THE CONSIDERATION FOR THIS AGREEMENT, SELLER
AND PURCHASER AGREE THAT PURCHASER IS TAKING THE PROPERTY "AS
IS" WITH ANY AND ALL LATENT AND PATENT DEFECTS AND THAT THERE IS
NO WARRANTY BY SELLER THAT THE PROPERTY IS FIT FOR A PARTICULAR
PURPOSE. PURCHASER ACKNOWLEDGES THAT IT IS NOT RELYING UPON
ANY REPRESENTATIONS, STATEMENTS, ASSERTIONS OR NON -ASSERTIONS BY
THE SELLER WITH RESPECT TO THE PROPERTY CONDITION, BUT IS RELYING
SOLELY UPON ITS EXAMINATION OF THE PROPERTY. PURCHASER TAKES
THE PROPERTY UNDER THE EXPRESS UNDERSTANDING THERE ARE NO
EXPRESS OR IMPLIED WARRANTIES (EXCEPT FOR LIMITED WARRANTIES OF
TITLE SET FORTH IN THE CLOSING DOCUMENTS). UPON CONVEYANCE, AS
BETWEEN SELLER AND PURCHASER, THE RISK OF LIABILITY OR EXPENSE
FOR ENVIRONMENTAL PROBLEMS AFFECTING THE PROPERTY, EVEN IF
ARISING FROM EVENTS BEFORE CLOSING, WILL BE THE SOLE
CFW Sale to James D. Finley Page 4 of 40
RESPONSIBILITY OF PURCHASER, REGARDLESS OF WHETHER THE
ENVIRONMENTAL PROBLEMS WERE KNOWN OR UNKNOWN AT CLOSING.
ONCE CLOSING HAS OCCURRED, PURCHASER INDEMNIFIES, HOLDS
HARMLESS AND RELEASES SELLER FROM LIABILITY FOR ENVIRONMENTAL
PROBLEMS AFFECTING THE PROPERTY, INCLUDING, BUT NOT LIMITED TO,
UNDER THE COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION
AND LIABILITY ACT ("CERCLA"), THE RESOURCE CONSERVATION AND
RECOVERY ACT (RCRA), THE TEXAS SOLID WASTE DISPOSAL ACT OR THE
TEXAS WATER CODE. PURCHASER INDEMNIFIES, HOLDS HARMLESS AND
RELEASES SELLER FROM ANY LIABILITY FOR ENVIRONMENTAL PROBLEMS
OR CONDITIONS AFFECTING THE PROPERTY ARISING AS THE RESULT OF
SELLER'S OWN NEGLIGENCE OR THE NEGLIGENCE OF SELLER S
REPRESENTATIVES, BUT NOT ANY WILLFUL ACTS OR OMISSIONS OR GROSS
NEGLIGENCE OF SELLER OR SELLER'S REPRESENTATIVES. PURCHASER
INDEMNIFIES, HOLDS HARMLESS AND RELEASES SELLER FROM ANY
LIABILITY FOR ENVIRONMENTAL PROBLEMS OR CONDITIONS AFFECTING
THE PROPERTY ARISING AS A RESULT OF THEORIES OF PRODUCTS
LIABILITY AND STRICT LIABILITY, OR UNDER NEW LAWS OR CHANGES TO
EXISTING LAWS ENACTED AFTER CONVEYANCE DATE THAT WOULD
OTHERWISE IMPOSE ON SELLER IN THIS TYPE OF TRANSACTION NEW
LIABILITIES FOR ENVIRONMENTAL PROBLEMS OR CONDITIONS AFFECTING
THE PROPERTY. PROVISIONS OF THIS SECTION SHALL SURVIVE THE
CLOSING. IT IS UNDERSTOOD AND AGREED THAT THE PURCHASE PRICE HAS
BEEN ADJUSTED BY PRIOR NEGOTIATION TO REFLECT THAT ALL OF THE
PROPERTY IS SOLD BY SELLER AND PURCHASED BY PURCHASER SUBJECT TO
THE FOREGOING. PURCHASER ACKNOWLEDGES AND ACCEPTS ALL THE
TERMS AND PROVISIONS BY HIS ACCEPTANCE HEREOF.
b. The provisions of Section 5(a) shall be incorporated into the Deed.
c. The provisions of Section 5(a) shall survive the closing (as defined below).
Section 6. Option Period.
(a) Notwithstanding anything to the contrary contained in this Contract, until forty-
five (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 7
below).
(b) If Purchaser is not satisfied in Purchaser's sole and absolute discretion as to the
condition precedent described in Section 6(a) above Purchaser may give written notice thereof
to Seller on or before the end of the Option Period, whereupon this Contract shall terminate.
CFW Sale to James D. Finley Page 5 of 40
Upon such termination, neither party shall have any further rights or obligations under this
Contract.
(c) The provisions of this Section 6 control all other provisions of this Contract.
(d) The parties agree that the Option Period will not be extended upon expiration
without a written amendment signed by both parties.
Section 7. Tests. Purchaser, at Purchaser's sole cost and risk, shall have the right to
go on to the Property, including the Impiovements, to make inspections, surveys, test borings,
soil analyses, and other tests, studies and surveys, including without limitation, environmental
and engineering tests, borings, analyses, site assessments, and studies ("Tests). Any Tests shall
be conducted at Purchaser's sole risk and expense, and Purchaser agrees to indemnify and defend
Seller and the Property from any liens and claims resulting from such Tests. The Property will
be restored by Purchaser to as near its original condition as possible at Purchaser's sole expense
following any site work. If 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.
Section 8. Closing Contingencies.
(a) The closing ("Closing") of the sale of the Propeity by Seller to Purchaser shall
occur through the office of the Title Company in no more than (15) days after the satisfaction of
the following contingencies to Closing ( `Closing Contingencies"), but not later than February
28, 2014. The Closing Contingencies are as follows:
(1) NONE
(b) Purchaser agrees to pursue the approvals and agreements described in the Closing
Contingencies above with reasonable diligence Seller agrees to cooperate fully with Purchaser
in connection with Purchaser's pursuit of the above approvals.
(c) If any Closing Contingencies are not satisfied to Purchaser's satisfaction so that
Purchaser is prepared to close on or before than February 28, 2014, then Purchaser must
terminate this Contract, and upon the termination, Sellei 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 agreed to in writing
by the parties.
Section 9. 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:
CF`V Sale to James D. Finley Page 6 of 40
(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 to existing
easements, rights -of -way, and prescriptive rights, whether of
record or not, with the precise foiin of the Deed to be determined
pursuant to Section 11 below;
(ii) A Lease Termination document signed by Seller terminating the
Lease;
(iii) A 30 ft. access easement from Seller to Purchaser across Seller's
adjacent property for Purchaser's use to construct and maintain a
driveway to Cahoba Drive as depicted on the Survey; and
(iv) Any other instrument or document necessary for Title Company to
issue the Owner Policy in accordance with Section 9(a)(3) below.
(2) Purchaser, at Purchaser's sole cost and expense, shall deliver or cause to
be delivered to Seller
(i)
Through the Title Company, federally wired funds or such other
means of funding acceptable to Seller, in an amount equal to the
Purchase Price, adjusted for closing costs and prorations;
(ii) A temporary construction easement from Purchaser to Seller on the
untreed/open area on the western side of the Property as depicted
on the Survey, for the construction of a recreation trail on Seller's
adjacent property; and
(iii) A Sewer Facility Easement in the food attached hereto as Exhibit
(3) The Title Company of Purchaser's choice 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 Fotin Owner Policy
of Title Insurance.
(4) The Independent Contract Consideration shall be applied to the Purchase
Price at Closing.
(5)
Seller and Purchaser shall each pay their respective attorneys' fees.
(6) Purchaser shall pay all recording fees and any other closing costs as set
forth by the Title Company.
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(b) Ad valorem and similar taxes and assessments, if any, relating to the Property
shall be prorated between Seller and Purchaser as of the Closing, based on estimates of the
amount of taxes that will be due and payable on the Property during the calendar yeas in which
the Closing occurs. As soon as the amount of taxes and assessments on the Property for that year
is known, Seller and Purchaser shall readjust the amount of taxes to be paid with the result that
Purchaser shall pay for those taxes and assessments applicable to the Property after the Closing.
The provisions of this Section 9(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.
Section 10. Credit for Restrictive Easement. Prior to the Closing under this Contract,
Purchaser intends to purchase from the State of Texas that certain 9.773 acre tract of land located
in Tarrant County Texas and being more particularly described on Exhibit "B" attached hereto
(the "State Parcel' ). Subject to Purchaser's closing on the State Parcel, Seller agrees to purchase
from Purchaser a Restrictive Easement on the State Paicel for a purchase price of $613,000.00,
which amount will be credited against the Purchase Price for the Property at the Closing of the
sale of the Property under this Contract. Contemporaneously with the closing on Purchaser's
purchase of the State Parcel, Purchaser shall execute and file of record with the Tarrant County
Clerk the Restrictive Easement in the form attached hereto as Exhibit "C." Provided Purchaser
has fulfilled its obligations under this Section 10 on or before the date of Closing under this
Contract, the Purchase Price for the Property shall be credited in the amount of $613,000.00.
Section 11. Agents Except for Jerry Barton who is representing Purchaser, 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. Purchaser shall be solely
liable for any fee payable to Jerry Barton.
Section 12. Closing Documents No later than fifteen (15) days prior to the Closing, Seller
shall deliver to Purchaser a copy of the Special Warranty Deed, which is subject to Purchaser's
reasonable right of approval.
Section 13. Notices.
(a) Any notice under this Contract shall be in writing 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, (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, (iv) deposited into the custody of Federal Express Corporation to be sent by
Fedhx Overnight Delivery or other reputable overnight carrier for next day delivery, addressed
to the party at the address specified below, or (v) telecopied to the party at the telecopy number
listed below, provided that the transmission is continued by telephone on the date of the
transmission.
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(b) The address of Seller under this Contract is:
City of Fort Worth
1000 Throckmorton Street
Fort Worth, Texas 76102
Attention Lester England
Water Department
Telephone: 817-392-
Fax (817) 392-8361
With a copy to:
Leann D. Guzman
City Attorney's Office
City of Fort Worth
1000 Throckmorton
Fort Worth, Texas 76102
(817) 392-7600
Fax (817) 392-8359
(c) The address of Purchaser under this Contract is:
James D. Finley
1308 Lake Street, Suite 200
Fort Worth, Texas 76102
Telephone: (817) 336-1924
Fax (817) 336-1709
With a copy to:
E. Brad Mahon
Murphy Mahon Keffler Farrier, LLP
505 Pecan St., Suite 101
Fort Worth, Texas 76102
Telephone: 817- 8 77- 3 3 5 8
(d) From time to time either party may designate another address or telecopy number
under this Contract by giving the other party advance written notice of the change.
Section 14. Termination, Default, and Remedies.
(a) If Purchaser fails or refuses to consummate the purchase of the Property pursuant
to this Contract at the Closing for any reason other than termination of this Contract by Puichaser
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 prior to or at the Closing, whereupon neither party hereto shall have any further rights
or obligations hereunder.
(b) If Seller fails or refuses to consummate the sale of the Property pursuant to this
Contract at Closing or 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 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 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.
Section 15. 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.
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Section 16. Assigns. This Contract inures to the benefit of and is binding on the parties
and their respective legal representatives, successors, and assigns. Any attempted assignment
shall be void.
Section 17. Time of the Essence. Time is of the essence under this Contract.
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 Willis 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 provision, and this Contract will be construed as if such invalid, illegal, or
unenforceable provision had never been contained herein.
Section 23. Business Days. If the Closing or the day for performance of any act
required under this Contract falls on a Saturday, Sunday, or legal holiday, then the Closing or the
day for such performance, as the case may be, shall be the next following regular business day.
Section 24. Counterparts. This Contract may be executed in multiple counterparts,
each of which will be deemed an original, but which together will constitute one instrument
[SIGNATURES APPEAR ON THE FOLLOWING PAGE]
CFW Sale to James D. Finley Page 10 of 40
This Contract is executed as of the Effective Date.
SELLER: CITY OF FORT WORTH, TEXAS
By:
Assistant City Manager
Attest
jfrin
Mary Kays64)
City Secretary
M&C 5 It 4
Date: / ---020! �-
DOE#
Approved as to Legality and Form
ssistant City Atto
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CFW Sale to James D. Finley
Page 11 of 40
By its execution below, Title Company acknowledges receipt of the Earnest Money described in
this Contract and agrees to hold and deliver the same and perform its other duties pursuant to the
provisions of this Contract.
TITLE COMPANY:
By:
Name:
Title:
Date:
Phone
Fax
CFW Sale to James D. Finley Page 12 of 40
EXHIBIT "A"
A 30.512 acre parcel of land out of the A. Van Noidstrand Survey, Abstract No. 1584,
and the J. Foote Survey, Abstract No 534, situated In Tarrant County, Texas, and being a
portion of Blocks 1 and 2, Lake Worth Leases, according to unrecorded plat File No. J-
175 on file at the City of Fort Worth Transportation & Public Works Engineering Vault,
and being a portion of that certain tract as conveyed to the City of Fort Worth by deed
recorded in Volume 350, Page 461, Deed Records of Tarrant County, Texas, and being
more particularly described by metes and bounds as follows;
BASIS OF BEARINGS is the Fort Worth Integrated G.P.S. Network System, N.A.D. 83,
North Central Texas Zone, distances shown hereon are ground measurements.
BEGINNING at a 5/8" iron rod set with aluminum cap stamped "C.F.W. SURVEY" in
place of Lake Worth Boundary Monument (called monument No. 8 per Lake Worth
Boundary Map filed under City of Fort Worth Transportation and Public Works File No.
F-83) lying in the easterly line of that certain tract of land described as 114.692 acres in
the deed to Quebec 820 Partners L.P. recorded under Instrument Number D205041458,
Deed Records of Tarrant County, Texas, being the southwest corner of Summit On The
Lake, Phase 2, according to plat recorded in Cabinet A, Slide 2043, Plat Records of
Tarrant County, Texas, and having surface coordinates of N= 6975109.08, E_
2298233.87;
THENCE North 89 degrees 51 minutes 18 seconds East along the Lake Worth boundary
line, the common line between said City tract and said Summit on the Lake addition, at
803.86 feet passing a 5/8 ' iron rod set with a red plastic cap stamped "CITY OF FT.
WORTH SURVEY DIVISION" for reference, (all 5/8 ' Iron rods set so capped unless
otherwise noted hereon), continuing in all 834.29 feet to a 5/8" iron rod found with
aluminum cap stamped "C.F.W. SURVEY" lying in the curved west right-of-way line of
Quebec St.(called 60.0' right-of-way per plat recorded in Volume 388-184, Page 95, Plat
Records of Tarrant County, Texas), from said corner a brass disc found in concrete
stamped "Lake Worth Boundary Monument" (called monument No. 7 per said File No.
F-83) bears North 89 degrees 51 minutes 18 seconds East, 2,079.70 feet;
THENCE southeasterly with said curve to the left having a radius of 1,113.10 feet
through a central angle of 07 degrees 10 minutes 48 seconds, an arc length of 139.48 feet
whose chord bears South 13 degrees 32 minutes 25 seconds East, a distance of 139.40
feet to a 5/8" iron rod found with aluminum cap stamped ` C.F.W. SURVEY" at the end
of said curve;
THENCE South 17 degrees 07 minutes 40 seconds East along the westerly line of said
Street, 123.03 feet to a 5/8" iron rod set with aluminum cap stamped "C.F W. SURVEY",
said corner bears North 17 degrees 07 minutes 40 seconds West 10.16 feet from a 5/8"
iron rod reset with aluminum cap stamped "CITY OF FT. WORTH SURVEY" at the
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
intersection of the westerly line of said Quebec Street with the northwesterly right-of-way
line of Cahoba Drive (called 60.0' right-of-way per plat recorded under Cabinet A, Slide
5516, Plat Records of Tarrant County, Texas);
THENCE southwesterly with said curve to the left having a radius of 235.0 feet parallel
to and 30 feet northwesterly of the northwesterly right-of-way line of said Cahoba Drive,
through a central angle of 30 degrees 55 minutes 05 seconds at an arc length of 30.42
feet passing a 5/8" iron rod set, continuing in all an arc length of 126.81 feet whose chord
bears South 51 degrees 49 minutes 02 seconds West, 125.28 feet to a 5/8" iron rod set at
the end of said curve;
THENCE South 37 degrees 34 minutes 14 seconds West, parallel to and 30 feet
northwesterly of the northwesterly right-of-way line of said Drive 430.41 feet to a 5/8"
iron rod set at the beginning of a curve having a radius of 284.0 feet;
THENCE southwesterly with said curve to the left through a central angle of 39 degrees
43 minutes 40 seconds, an arc length of 196.92 feet whose chord bears South 17 degrees
42 minutes 24 seconds West, a distance of 193.0 feet to a 5/8" iron rod set at the point of
a reverse curve having a radius of 173.97 feet;
THENCE southwesterly with said curve to the right through a central angle of 106
degrees 40 minutes 27 seconds, an arc length of 323.90 feet whose chord bears South 51
degrees 10 minutes 49 seconds West, a distance of 279.10 feet to a 5/8" iron rod set at the
point of a reverse curve having a radius of 560.0 feet;
THENCE southwesterly with said curve to the left through a central angle of 57 degrees
16 minutes 50 seconds, an arc length of 559.85 feet whose chord bears South 75 degrees
52 minutes 41 seconds West, a distance of 536.82 feet to a 5/8" iron rod set at the end of
said curve;
THENCE South 47 degrees 14 minutes 16 seconds West, parallel to and 30 feet
northwesterly of the northwesterly right-of-way line of said Drive 589.30 feet to a 5/8"
iron rod set at the beginning of a curve having a radius of 115.0 feet;
THENCE northwesterly with said curve to the right through a central angle of 107
degrees 54 minutes 01 seconds, an arc length of 216.57 feet whose chord bears North 75
degrees 39 minutes 46 seconds West, a distance of 185.96 feet to a 5/8" iron rod set at the
end of said curve;
THENCE North 27 degrees 24 minutes 13 seconds West, 61.26 feet, to a 5/8" iron rod set
at the beginning of a curve having a radius of 255.0 feet
THENCE northwesterly with said curve to the left through a central angle of 32 degrees
34 minutes 40 seconds, an arc length of 144.99 feet whose chord bears North 43 degrees
41 minutes 33 seconds West, a distance of 143.04 feet to a 5/8 ' Iron rod set lying in the
approximate west line of said A. Van Nordstrand Survey and the approximate east line of
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
the Nancy Johnson Survey, Abstract No. 887, said corner bears North 00 degrees 01
minutes 05 seconds West, 35.46 feet from a 5/8" iron rod found with aluminum cap
stamped "C.F.W. SURVEY" on the northerly right-of-way line of said Cahoba Drive;
THENCE North 00 degrees 01 minutes 05 seconds West with said approximate survey
line, 156.38 feet to a 5/8" iron rod reset with aluminum cap stamped ` C.F.W. SURVEY"
lying in the Lake Worth boundary line, being the northerly line of said City of Fort Worth
tract, the southerly line of said 114.692 acre tract, from which a brass disc in concrete
stamped "Lake Worth Boundary Monument' found (called Monument No. 11 per said
File No F-83, control monument) beats South 89 degrees 58 minutes 35 seconds West
1,470.70 feet;
THENCE North 89 degrees 58 minutes 35 seconds East with said Lake Worth boundary
line, the common line between said City of Fort Worth tract and said 114.692 acre tract,
432.50 feet to a 5/8" iron rod reset with aluminum cap stamped "C.F.W. SURVEY' in
place of Lake Worth Boundary Monument No. 10 (control monument);
THENCE North 00 degrees 01 minutes 05 seconds West with said Lake Worth boundary
line, the common line between said City of Fort Worth tract and said 114.692 acre tract,
631.80 feet to a broken concrete monument found being the remains of Lake Worth
Boundary Monument No. 9;
THENCE North 44 degrees 44 minutes 14 seconds East with said Lake Worth boundary
line, the common line between said City of Fort Worth tract and said 114.692 acre tract,
798.58 feet to the PLACE OF BEGINNING, and containing 30.512 acres of land as
surveyed on the ground in June 2012.
INCLUDED HEREWITH is a 20 foot wide ingress and egress easement, being a 628
square foot parcel of land out of the A. Van Nordstrand Survey, Abstract No. 1584,
situated in Tarrant County, Texas, and being a portion of Blocks 1 & 2, Lake Worth
Leases, according to unrecorded plat File No. J-175 on file at the City of Fort Worth
Transportation & Public Works Engineering Vault, and being a portion of that certain
tract of land as conveyed to the City of Fort Worth by deed recorded in Volume 350,
Page 461, Deed Records of Tarrant County, Texas, and being more particularly described
by metes and bounds as follows;
BEGINNING in the northerly curved right-of-way line of Cahoba Drive, having a radius
of 530' (called 60.0' right-of-way per plat Cabinet A, Slide 5516, Plat Records of Tairant
County, Texas) from which a 5/8" iron rod found with aluminum cap stamped "C.F.W.
SURVEY" in said right-of-way line bears South 53 degrees 16 minutes 35 seconds West,
a chord distance of 111.51 feet;
THENCE North 47 degrees 14 minutes 34 seconds West departing said right-of-way line,
31.22 feet to the northwest corner of herein described parcel lying in a curve having a
radius of 560.0 feet;
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
THENCE with said curve to the right through a central angle of 02 degrees 08 minutes 12
seconds, an aic length of 20.88 feet whose chord bears North 59 degrees 28 minutes 23
seconds East, a distance of 20.88 feet to the northeast corner of herein described parcel;
THENCE South 47 degrees 14 minutes 34 seconds East, 31.60 feet to the southeast
corner of herein described parcel lying in the northerly right-of-way line of said Cahoba
Drive on a curve having a radius of 530.0 feet from which a 5/8" iron rod found at the
end of said curve bears North 83 degrees 03 minutes 06 seconds East, a chord distance of
387.92 feet;
THENCE southwesterly with said curve to the left through a central angle of 02 degrees
16 minutes 11 seconds, an arc length of 20.99 feet whose chord bears South 60 degrees
27 minutes 00 seconds West, a distance of 20.99 feet to the PLACE OF BEGINNING,
and containing 628 square feet of land as surveyed on the ground in June of 2012.
Basis of Bearings* the Fort Worth Integrated G.P.S. Network System, N.A.D. 83, North
Central Texas Zone. Distances are ground measurements.
In accordance with the Texas Board of Professional Land Surveying, General Rules of
Procedures and Practices, 663.19(9), This report' consists of the hereon real property
descriptions, and a Map of Survey being attached herewith.
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
EXHIBIT "B"
Description of State Parcel
Being a 9.773 acre (425,700 square feet) tract of land more or less, situated in the Nancy
Johnson Survey, Abstract No, 887, Tarrant County Texas, being all of that certain tract
of land described as Tract 1 and Tract 2 in a deed to the State:of Texas and recorded_
Instrument Number D205292577, D.R.T.C.T., said Tract 1 being Lot2, Block 1, Cahoba
Business Addition, as filed in Cabinet A, Slide 5846 Plat Records, Tarrant County,
Texas (P.R.T.C.T.) said 9.773 acre tract being more particularly described by metes and
bounds as follows;
Beginning at a brass cap in concrete stamped Lake Worth Boundary. Monument found, as
shown on the Lake Worth Boundary Maps File F-83, on file at the Department of
Engineering of the City of Fort Worth,: on the north line of a tract of land to Ththe City of
Fort Worth as recorded in Volume 350, Page 461, D,R.T.C.T. for the southeast corner of
said Tract 2 and being the most southerly southwest corner of said Lot 2 Block 1, from
which a brass cap in concrete stamped Lake Worth Boundary Monument found bears
South 89° 42' 32' East, a distance of 798.29 feet;
•
1) Thence North 89° 42' 32" West, along the south line of said Tract 2, a distance of
102.45 feet a 5/8 inch plastic capped iron rod stamped "TRANSYSTEMS
CORPORATION' found for the southwest corner of said Tract "C' same being
the northeast right-of-way line of Cahoba Drive (a 60 foot right-of-way) as
dedicated per plat recorded in Cabinet A, Slide 5516, P.R,T.0 T. and being on a
curve to the left whose center bears South 62° 54' 42" West, a distance of 830.21
feet;
2) Thence in a northwesterly direction along said curve to the left, same having a
central angle of 22° 53' 17 ', a distance of 331,64 feet, and a long chord which
bears North 38°31'56'West, 329.44 feet to a 5/8 inch plastic capped iron rod
stamped "TRANSYSTEMS CORPORATION" set for northwest cornei of said
Tract 2 same being the most southerly southeast corner of Lot 1-R, Block 1
Cahoba Business Addition, as filed in Cabinet A, Slide 8004, P.R.T.C.T.;
3) Thence North 32° 53' 49" East, along the common northwest line of said Tract 2
and the most southerly southeast line of said Lot 1-R, a distance of 36.73 feet to a
5/8 inch plastic capped iron rod stamped ` TRANSYSTEMS CORPORATION"
found for the northeast corner of said Tract 2 and the most southerly east corner
of Lot 1-R Block 1, same being on a west line of said Lot 2 Block 1;
4) Thence North 44° 52' 00" West, along the common line of said Lot 1-R and said
Lot 2, Block 1 a distance of 67.74 feet to a 5/8 inch plastic capped iron rod
stamped "TRANSYSTEMS CORPORATION" found for the most northerly
southwest corner of said Lot 2, Block 1, same being a common interior corner of
said Lot 1-R, Block 1;
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
5) North 32° 53' 39" East, along the common line of said Lot 1-R and said Lot 2,
Block 1, a distance of 12 74 feet to a 5/8 inch plastic capped iron rod stamped
TRANSYSTEMS CORPORATION" found;
6) North 13° 06' 33" West, along the common line of said Lot 1-R and said Lot 2
Block 1, a distance of 156 33 feet to a 5/8 inch plastic capped iron rod stamped
TRANSYSTEMS CORPORATION" found at the beginning of a curve to the
right whose center bears North 76° 53' 27" East a distance of 60.00 feet,
7) In a northerly direction along said curve to the right, same having a central angle
of 37° 45' 52' , a distance of 39.55 feet and a long chord which bears North
05°46 23"East, 38.83 feet to a 5/8 inch plastic capped iron rod stamped
TRANSYSTEMS CORPORATION" found for the end of said curve;
8) North 24° 39' 19" East, along the common line of said Lot 1-R and said Lot 2,
Block 1, a distance of 222.04 feet to a 5/8 inch plastic capped iron rod stamped
`TRANSYSTEMS CORPORATION" found on the southerly right-of-way line of
IH 820 (a variable width right-of-way), same being the northwest corner of said
Lot 2, Block 1 and the northeast corner of said Lot 1-R, Block 1, from which a
TxDOT Type II monument found bears South 71° 08' 57" West 217 58 feet;
9) North 71° 08' 57" East, along the north line of said Lot 2, Block 1 and said
southerly right-of-way line a distance of 82.97 feet to a 5/8 inch plastic capped
iron rod stamped "TRANSYSTEMS CORPORATION" found at the beginning of
a curve to the left whose center bears North 18° 50' 53" West, 2,894.79 feet;
10) In a easterly direction along said curve to the left, same having a central angle of
04° 49' 19", a distance of 243.62 feet and a long chord which bears North
68°44 27 'East, 243.55 feet to a 5/8 inch plastic capped iron rod stamped
"TRANSYS 1'EMS CORPORATION" found for the northeast corner of said Lot
2, Block 1, same being the northwest corner of Lot 1, Block 1, Allen's Landing as
recorded in Cabinet A, Slide 4235, P.R.T.C,T.;
11) Thence South 25° 19' 17" East, along the common east line of' said Lot 2, Block 1
and the west line of said Lot 1 Block 1, a distance of 396.95 feet to a 3 inch metal
post found for the southwest corner of said Lot 1, Block 1;
12) Thence South 25° 21' 15" East, continuing along the east line of said Lot 2, Block
1 and the west line of a tract of land to Quebec 820 Partners, LP, recorded in
Instrument Number D205041458, D.R,T.0 T., a distance of 552.22 feet to the
southeast corner of said Lot 2, Block 1 and the southwest corner of said Quebec
820 Partners tract being in the north line of said City of Fort Worth tract, from
which a brass cap in concrete Lake Worth Boundary Monument found bears
South 89° 42' 32' East, a distance of 354.08 feet;
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
13) Thence North 89° 42' 32" West, along the common south line of Lot 2, Block 1
and north line of said City of Fort Worth tract, a distance of 444.22 feet to the
POINT OF BEGINNING and containing 9.773 acre (425,700 square feet) of land
more or less.
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
STATE OF TEXAS §
COUNTY OF TARRANT §
EXHIBIT "C"
KNOW ALL MEN BY THESE PRESENTS
RESTRICTIVE EASEMENT
THIS GRANT OF EASEMENT, made this day of January, 2013, by
James D. Finley, hereinafter referred to as the "Grantor", to the City of Fort Worth
having an address of 1000 Throckmorton, Fort Worth, Tarrant County, TX 76102,
hereinafter "Grantee".
WITNESSETH:
WHEREAS, Grantor is the sole owner of the fee interest in certain real property
in the City of Fort Worth more particularly described in Exhibit "A" attached hereto and
incorporated by this reference (the 'Property'); and
WHEREAS, the Property is in the vicinity of the Naval Air Station Fort Worth
Joint Reserve Base ("Installation"), which is operated and used by the federal
government for military purposes; and
WHEREAS, Grantee has requested an easement from Grantor in order to limit
development or use of the Property that would otherwise be incompatible with the
mission of the Installation•
NOW THEREFORE, in consideration of Six Hundred Thirteen Thousand and 00/100
Dollars ($613,000.00), the receipt and sufficiency of which is hereby acknowledged by
Grantor, and the mutual covenants, terms, conditions and restrictions contained herein,
Grantor hereby grants and conveys to the Grantee a restrictive easement (the "Easement")
over the Property, of the nature and character and to the extent set forth herein.
1. Purpose. It is the purpose of this Easement to prevent any improvement,
development or use of the Property that would otherwise be incompatible with the
mission of the Installation. This easement will run with the land in perpetuity for the
benefit of the Installation and the USA and any future owners as long as the property to
the south is used as an airfield
2. Rights of Grantee. To accomplish the purpose of this Easement, the following rights
are conveyed to the Grantee by this Easement:
a. All rights to development or use the Property that would encumber, impede,
limit or otherwise be incompatible with the mission of the Installation and the
purpose of this Easement, including the right to prohibit any such development or
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
use in its entirety, which Grantee hereby prohibits.
b. All rights to the removal of any non -complying development or uses of the
Property pursuant to Section 6.
c. The right to enter upon the Property in a reasonable manner and at reasonable
times in order to monitor Grantor's compliance with the terms of this Easement or
at any time upon an event of non-compliance with the terms of this Easement to
enforce the terms of this Easement; provided that Grantee will provide at least
five (5) days' notice of such entry to Grantor, except when there is a threat of
imminent harm of personal injury or property damage. Grantee shall not
unreasonably interfere with Grantor's use and quiet enjoyment of the Property.
d. The right to grant or assign this F'asement on the Property to any federal agency
or department of the United States of America without prior written approval
from Grantor, provided that such grant or assignment will not enlarge the rights of
Grantee in the Property or impose any additional limitations on Grantor.
3. Restricted Uses and Development Rights. Any activity or use of the Property
inconsistent with the purpose of this Easement is prohibited, including but not limited to
any activity on the Property that would interfere or be injurious to the operations of an
airfield, including navigation and communications.
Without limiting the generality of the foregoing, and except as specifically permitted, the
following activities and uses are expressly prohibited:
1. The erection, construction, installation, alteration or growing, whether public or
private, of any structure, building, antenna, tower wire, tree or other obstruction,
whatever its nature, extending more than 50 feet above ground level (AGL) is
prohibited. .
2. New construction of any structure or edifice, and any other additions to, or
alterations of the Property on the easement without express written notice by
Grantor to the Installation and Grantee a minimum of sixty (90) days before
Grantor's intended construction start date.
3. Construction of any structure on the easement without the express written
authorization of Grantee, provided that any proposed improvements that meet the
requirements of this Easement shall receive a ` Letter of No Objection' from the
Installation and be approved by the Grantee.
4. The use of gas drilling equipment that might interfere with the operations of an
airfield without review and written approval by the Installation and Grantee.
5. Lighting that might interfere with the operations of an airfield. All lighting
equipment, to include floodlights and searchlights, and all protective lighting,
such as streetlights, shall have positive optical control so that no light is emitted
above the horizontal plane.
6. Human habitation, including but not limited to temporary accommodations such
as cabins, trailers, RVs, and tents.
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
7. Operations of any type that produce smoke, glare or other visual hazards, or
encourage concentrations of birds, such as bird feeding stations, ponds (except as
otherwise allowed hereundei), and mature crops left un-harvested that may be
dangerous for aircraft operating from the Installation. Controlled burns for
agricultural purposes, habitat improvement and mitigation of fire hazards must be
agreed to in writing by all parties to this Easement prior to commencing said
activities. The burning of reasonable amounts of yard debris is peinlitted without
prior notification.
8. The division, subdivision or de facto subdivision of the Property; provided,
however, that a lease of a portion of the Property for an authorized use under this
Easement shall not be prohibited.
9. The use of motorized vehicles, except for in support of the authorized uses of this
Easement, for motorized emergency vehicles as needed, and for private non-
commercial recreational use of all -terrain vehicles.
4. Grantor's Rights and Obligations.
a. Grantor reserves to itself, and its heirs, successors and assigns, all rights
accruing from its ownership of the Property that are not expressly prohibited herein and
are not inconsistent with the purposes of this Easement, including but not limited to:
(1) Construction and maintenance of uninhabitable structures for the
maintenance and protection of farm and ranch animals and equipment only, at a
location of Grantor's choice.
(2) Contiolling predatory and problem animals by the use of selective
control techniques that meet all federal, state and local laws, regulations &
ordinances. .
(3) Construction of fencing reasonably necessary for the permitted
uses hereunder.
(4) Establishing retention or detention ponds or impoundments to
ameliorate storm water runoff on or affecting the Property. Grantor, in
consultation with and with prior approval of the Grantee will be permitted to
create such stoim water impoundments on the Property, provided they are not
enhanced for the attraction of waterfowl. Howevei, should the impoundments or
other improvements made attract such a concentration of birds to the extent that
they cause a training or operational hazard to the Installation, the Grantor, upon
the request of the Grantee shall modify the improvements to the extent required to
ameliorate the training or operational hazard created. Such modification work
shall be at the sole cost of the Grantor.
(5) Agriculture and farming, passive recreational uses, and Silviculture
and Use of Natural Resources (as those terms are defined below).
A. Agriculture and Farming. "Agriculture and farming" means all
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
methods designed to produce and manage crops, and the farming activities
of feeding and housing reasonable numbers of farm animals, such as
cattle, goats, and horses, including, without limitation, the construction of
new (and maintenance and restoration of existing) structures for the
housing of farm animals or storage of farm equipment and not inconsistent
with the restrictions contained in this Easement (i.e. setbacks, height
limits, lighting, etc.) or the purposes of this Easement. Commercial
poultry enterprises are specifically prohibited.
B. Passive Recreational Use. "Passive recreational use" means all
non-public recreational activities (such as but not limited to hiking,
horseback riding, bird watching, fishing, hunting and camping limited to
the personal use by Grantor and Grantor's invitees), that require no surface
alteration or other development of the Property, and not inconsistent with
the restrictions or the purposes of this Easement.
C. Silviculture and Use of Natural Resources. "Silviculture and
Use of Natural Resources" means all silvicultural and other exploitation of
the Property's natural resources, including but not limited to timber
harvesting (to include thinning and clearcuttmg of marketable timber),
mechanical and chemical site preparation, reforestation, and all other
activities associated therewith provided such uses are not inconsistent with
(i) all applicable laws, regulations and ordinances or (ii) the restrictions or
the purposes of this Easement.
(6) To the extent allowed by law, non-commercial hunting by Grantor,
and Grantor's invitees.
b. Grantor must initiate rezoning of the Property to AG Agricultural within
30 days of the date of this Easement. The Property must be rezoned AG Agricultural
within 180 days of the date of this Easement.
c. Use or development of the Property for agricultural uses within the
limitations of this easement shall follow water quality Best Management Practices.
5. Notification Provisions.
a. Notice of Intent to Undertake New Uses and Construction. Whenever Grantor
plans to undertake a new use or construction on the Property that requires a permit from
the City of Fort Worth, Grantor will notify the Grantee in writing by certified mail not
less than ninety days (90) prior to the date that Grantor intends to undertake the activity
in question. The notice shall describe the nature, scope, design, location, timetable and
any other material aspect of the proposed activity in sufficient detail to permit the
Grantee to make an informed judgment as to its consistency with the purpose of this
Easement. Failure of Grantor to give such notice shall be deemed a breach of the terms
of this Agreement. Furthermore, should Grantor undertake to make any improvements to
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
control stormwater runoff pursuant to paragraph 4 above, the provisions of this paragraph
shall apply.
b. Grantee's Approval. Within sixty (60) days of receipt of the request provided
by Grantor to Grantee under Section 5(a), the Grantee will grant or withhold its approval
in writing. Grantee's approval may be withheld only upon a reasonable determination by
the Grantee that the action proposed would be inconsistent with the purpose of this
Easement and the restrictions on the use of the Property included herein.
6 Enforcement and Remedies. If Grantor breaches any terms, conditions, or
obligations created by this Easement, the Grantor shall be afforded ninety (90) days
from the receipt of Grantee's notice of non-compliance to cure the subject breach,
except where irreparable harm may result from any delay in curing a breach. Grantee
may grant a reasonable extension of time to complete the cure if it is determined by
Grantee to be necessary. If the non-compliance is not cured within the mnety (90) day
time frame or extension of time if granted by Grantee, Grantee may:
a. Take necessary actions to correct the non-compliance and upon request by
Grantee, Grantor shall reimburse Grantee for its reasonable costs incurred to
correct the non-compliance;
b. Institute mediation or other alternative dispute resolution strategy that is agreed
to by the parties; and
c. Institute suit to enjoin any breach or enforce any term by injunction.
The Grantee's remedies shall be cumulative and shall be in addition to any other rights
and remedies available to the Grantee at law or equity. Enforcement of the teens of this
Easement shall be at the discretion of the Grantee No failure on the part of the Grantee
to enforce any term hereof shall discharge or invalidate such term or any other term
hereof or affect the right of the Grantee to enforce the same in the event of a subsequent
breach or default.
7. Costs and Liabilities. Grantor retains all responsibilities and shall bear all costs and
liabilities of any kind related to the ownership and maintenance of the Property.
8. Noise and Other Effects of Air Operations. It is acknowledged that the Property is
within the north Accident Potential Zone I of the Installation. As such, the Property will
be subject to effects related to the operation of an airfield. Grantor does hereby fully
waive, remise, and release any right or cause of action which Grantor or its respective
successors and assigns, may have due to such noise, noise vibrations, fumes, dust, fuel
particles and all other effects that may be caused by the operation of aircraft from the
Installation. Grantor specifically does not waive but retain all rights to causes of action,
claims and rights to damages for any aircraft accident affecting the Property or persons
thereon, including physical damages such as window breakage, contamination from fuel
dumping, damage from falling aircraft components etc. Furthermore, this waiver is with
respect to operation of aircraft by or for purposes of the Installation. If the Installation is
closed, and the base is converted to private, non-military use, this waiver shall terminate.
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12412.13
As used herein, the teuuu "aircraft" shall mean any and all types of aircraft, to include, but
not limited to, jet aircraft, propeller driven aircraft, civil aircraft, military aircraft,
commercial aircraft helicopters and all types of aircraft or vehicles now in existence or
hereafter developed, regardless of existing or future noise levels, for the purpose of
military training, and/or transporting persons or property through the air by whomsoever
owned or operated.
9. Subsequent Transfers. Grantor agrees to reference and incorporate the terms of this
Easement in any deed or other legal instrument by which they divest themselves of any
interest in the Property, including a leasehold interest. Grantor further agrees to give
written notice to the Grantee of the transfer at least 30 days prior to the date of transfer.
10. Term and Termination.
a. The term of this easement shall be in perpetuity, subject to earher
termination as allowed in this Easement.
b. If the property used by the Installation as of the date of this conveyance
ceases to operate as an airfield for any purpose, the Easement may be terminated upon the
repurchase of the development rights from Grantee, its successors or assigns, by Grantor,
its heirs, successors or assigns.
11 Notices. Except as otherwise specified, any notice, approval or communication that
either party is required to give in writing may be served personally or mailed to:
To Grantor: James D. Finley
1308 Lake Street, Suite 200
Fort Worth, Texas 76102
To Grantee: City of Fort Worth
1000 Throckmorton
Fort Worth, TX 76102
Copy to: Commanding Officer
Joint Reserve Base
Fort Worth, TX
or to such other address as either party may designate by written notice to the other.
TO HAVE AND TO HOLD the aforesaid easement in, over, and upon the
described Property of Grantor with all the rights, privileges and appurtenances thereto
belonging or in any wise appertaining, unto the Grantee, its successors and assigns
forever.
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
IN WITNESS WHEREOF, Grantor has caused this instrument to be effective the day
and year first written above.
GRANTOR: James D. Finley GRANTEE' City of Fort Worth
James D. Finley Fernando Costa
Assistant City Manager
APPROVED AS TO FORM AND LEGALITY
Assistant City Attorney
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
STATE OF TEXAS
ACKNOWLEDGEMENT
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, a Notary Public in and for the State of
Texas, on this day personally appealed James D. Finley, known to me to be the same
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.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this day of
, 2013.
Notary Public in and for the State of Texas
ACKNOWLEDGEMENT
STATE OF TEXAS
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, a Notary Public in and for the
State of Texas on this day personally appeared Fernando Costa, Assistant City Manager
of the City of Fort Worth, known to me to be the same person whose name is subscribed
to the foregoing instrument and acknowledged to me that the same was the act of the
City of Fort Worth and that he/she executed the same as the act of the City of Fort Worth
for the purposes and consideration therein expressed and in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this day of
, 2013.
Notary Public in and for the State of Texas
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
Exhibit "A"
Property Description
Being a 9.773 acre (425,700 square feet) tract of land, more or less, situated in the Nancy
Johnson Survey, Abstract No. 887, Tarrant County, Texas, being all of that certain tract
of land described as Tract 1 and Tract 2 in a deed to the State of Texas and recorded in
Instrument Number D205292577, D.R.T.C.T., said Tract 1 being Lot2, Block 1, Cahoba
Business Addition, as filed in Cabinet A, Slide 5846 Plat Reeords, Tarrant County,
Texas (P.R.T.C.T.) said 9.773 acre tract being more particularly described by metes and
bounds as follows;
•
Beginning at a brass cap in concrete stamped Lake Worth Boundary. Monument found, as
shown on the Lake Worth Boundary Maps File F-83,. on file at the ±Departnezit Of
Engineering of the City of Fort Worth,: on the north line of a tract of land to the City of
Fort Worth as recorded 1n Volume 350, Page 461, D.R.T.C.T. for the southeast corner of
said Tract 2 and being the most southerly southwest corner of said Lot 2, Block 1, from
which a brass cap in concrete stamped Lake Worth Boundary Monument found bears
South 89° 42' 32' East, a distance of 798.29 feet;
•
1) Thence North 89° 42' 32" West, along the south line of said Tract 2, a distance of
102.45 feet a 5/8 inch plastic capped iron rod stamped "TRANSYSTEMS
CORPORATION' found foi the southwest corner of said Tract C' same being
the northeast right-of-way line of Cahoba Drive (a 60 foot right-of-way) as
dedicated per plat recorded in Cabinet A, Slide 5516, P.R.T.0 T, and being on a
curve to the left whose center bears South 62° 54' 42" West, a distance of 830.21
feet;
2) Thence in a northwesterly direction along said curve to the left, same having a
central angle of 22° 53' 17', a distance of 331.64 feet, and a long chord which
bears North 38°31'56'West, 329.44 feet to a 5/8 inch plastic capped iron rod
stamped "TRANSYSTEMS CORPORATION" set for northwest corner of said
Tract 2 same being the most southerly southeast corner of Lot 1-R, Block 1
Cahoba Business Addition, as fled in Cabinet A, Slide 8004, P.R.T.C.T.;
3) Thence North 32° 53' 49" East, along the common northwest line of said Tract 2
and the most southerly southeast line of said Lat 1-R, a distance of 36.73 feet to a
5/8 inch plastic capped iron rod stamped ` TRANSYSTEMS CORPORATION"
found foi the northeast corner of said Tract 2 and the most southerly east corner
of Lot 1-R Block 1, same being on a west line of said Lot 2, Block 1;
4) Thence North 44° 52' 00" West, along the common line of said Lot 1-R and said
Lot 2, Block 1, a distance of 67.74 feet to a 5/8 inch plastic capped iron rod
stamped "TRANSYSTEMS CORPORATION" found for the most northerly
southwest corner of said Lot 2, Block 1, same being a common interior corner of
said Lot 1-R, Block 1;
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
5) North 32° 53' 39" East, along the common line of said Lot 1-R and said Lot 2,
Block 1, a distance of 12 74 feet to a 5/8 inch plastic capped iron rod stamped
TRANSYSTEMS CORPORATION" found;
•
6) North 13° 06' 33" West, along the common line of said Lot 1-R and said Lot 2,
Block 1, a distance of 156 33 feet to a 5/8 inch plastic capped iron rod stamped
TRANSYSTEMS CORPORATION" found at the beginning of a curve to the
right whose center beats North 76° 53' 27" East a distance of 60.00 feet;
7) In a northerly direction along said curve to the right, same having a central angle
of 37° 45' 52' , a distance of 39.55 feet and a long chord which bears North
05°46 23"East, 38,83 feet to a 5/8 inch plastic capped iron rod stamped
"TRANSYS i'EMS CORPORATION" found for the end of said curve;
8) North 24° 39' 19" East, along the common line of said Lot 1-R and said Lot 2,
Block 1, a distance of 222.04 feet to a 5/8 inch plastic capped iron rod stamped
TRANSYSTEMS CORPORATION" found on the southerly right-of-way line of
IH 820 (a variable width right-of-way), same being the northwest corner of said
Lot 2, Block 1 and the northeast corner of said Lot l R, Block 1, from which a
TxDOT Type II monument found bears South 71° 08' 57" West 217.58 feet;
9) North 71° 08' 57" East, along the north line of said Lot 2, Block 1 and said
southerly right-of-way line a distance of 82.97 feet to a 5/8 inch plastic capped
iron rod stamped "TRANSYSTEMS CORPORATION" found at the beginning of
a curve to the left whose center bears North 18° 50 53" West, 2,894.79 feet;
10) In a easterly direction along said curve to the left same having a central angle of
04° 49' 19", a distance of 243.62 feet and a long chord which bears North
68°44 27 'East, 243.55 feet to a 5/8 inch plastic capped iron rod stamped
"TRANSYSTEMS CORPORATION" found for the northeast corner of said Lot
2, Block 1, same being the northwest corner of Lot 1, Block 1, Allen's Landing as
recorded in Cabinet A, Slide 4235, P.R.T.C.T.;
11) Thence South 25° 19' 17" East, along the common east line of said Lot 2, Block 1
and the west line of said Lot 1 Block 1 a distance of 396.95 feet to a 3 inch metal
post found for the southwest corner of said Lot 1, Block 1;
12) Thence South 25° 21' 1'5" East, continuing along the east line of said Lot 2, Block
1 and the west hne of a tract of land to Quebec 820 Partners, LP, recorded in
Instrument Number D205041458, D.R.T.C.T. a distance of 552.22 feet to the
southeast corner of said Lot 2, Block 1 and the southwest corner of said Quebec
820 Partners tract being in the north line of said City of Fort Worth tract, from
which a brass cap in concrete Lake Worth Boundary Monument found bears
South 89° 42' 32' East, a distance of 354.08 feet;
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
13) Thence North 89° 42' 32" West, along the common south line of Lot 2, Block I
and north line of said City of Fort Worth tract, a distance of 444.22 feet to the
POINT OF BEGINNING and containing 9.773 acre (425,700 square feet) of land
more or less.
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
STATE OF TEXAS §
COUNTY OF TARRANT §
DATE'
EXHIBIT "D"
KNOW ALL MEN BY THESE PRESENTS
CITY OF FORT WORTH
PERMANENT SEWER FACILITY EASEMENT
GRANTOR: JAMES D. FINLEY
GRANTOR'S MAILING ADDRESS (including County):
1308 Lake Street, Suite 200
Fort Worth, Texas 76102
GRANTEE' CITY OF FORT WORTH
GRANTEE'S MAILING ADDRESS (including County):
1000 THROCKMORTON ST
FORT WORTH, TARRANT COUNTY, TX 76102
CONSIDERATION: Ten Dollars ($10.00) and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged.
EASEMENT TRACT:
A 35' wide permanent easement for sanitary sewer facilities situated in
the A. Van Nordstrand Survey, Abstract No 1584, Tarrant County, Texas, and
being a portion of that certain tract as conveyed to Grantor by deed recorded at
Clerk's File No. Real Property Records of Tarrant County, Texas
(such tract referred to herein as "Grantor's Property" and being more particularly
described in Exhibit "A" attached hereto), and being 17.5 feet on both sides of
sewer line "SS1" according to City of Fort Worth Engineering Vault number X-
20220, and being more particularly described in Exhibit "B" attached hereto
Grantor for the consideration paid to Grantor and other good and valuable
consideration, hereby grants, sells, and conveys to Grantee, its successors and assigns,
an exclusive, perpetual easement for the construction, operation, maintenance,
replacement, upgrade, and repair of a Permanent Sewer Line Facility, hereafter referred
to as "Facility' . The Facility includes all incidental underground and aboveground
attachments, equipment and appurtenances, including, but not limited to manholes,
manhole vents, lateral line connections, pipelines, junction boxes in, upon, under and
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
across a portion of Grantor's Property and more fully described in Exhibit 'B" attached
hereto and incorporated herein for all pertinent purposes, together with the right and
privilege at any and all times to enter Grantor's Property, or any part thereof, for the
purpose of constructing, operating, maintaining, replacing, upgrading, and repairing said
Facility.
In no event shall Grantor (I) use the Easement Tract in any manner which
interferes in any material way or is inconsistent with the rights granted hereunder,
or (II) erect or permit to be erected within the Easement Tract a permanent
structure or building, including, but not limited to, monument sign, pole sign,
billboard, brick or masonry fences or walls or other structures that require a
building permit. However, Grantor shall be permitted to install and maintain pipe,
cable or wire fencing and concrete, asphalt or gravel driveways, roads or parking
lots across the Easement Tract. In addition, Grantor, subject to Grantee's prior
written approval (which approval shall be in the City's sole determination as
reasonably exercised), may install, construct, maintain, repair, or replace any
utilities (including water, gas, electricity, sewer, cable television and fiber optics)
adjacent to or across the Easement Tract reasonably necessary for the use
enjoyment and development of Grantor's Property. Grantee shall be obligated to
restore the surface of the Easement Tract at Grantee's sole cost and expense,
including the restoration of any sidewalks, driveways, or similar surface
improvements located upon or adjacent to the Easement Tract which may have
been removed, relocated, altered, damaged, or destroyed as a result of the
Grantee's use of the easement granted hereunder. Provided, however, that
Grantee shall not be obligated to restore or replace irrigation systems or other
improvements installed in violation of the provisions and intended use of this
Easement.
TO HAVE AND TO HOLD the above -described easement together with all and singular
the rights and appurtenances thereto in anyway belonging unto Grantee, and Grantee's
successors and assigns forever; and Grantor does hereby bind itself and its successor
and assigns to warrant and forever defend all and singular the easement unto Grantee,
its successor and assigns, against every person whomsoever lawfully claiming or to
claim the same, or any part thereof.
When the context requires, singular nouns and pronouns include the plural.
[SIGNATURES APPEAR ON THE FOLLOWING PAGE]
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
GRANTOR: James D. Finley GRANTEE City of Fort Worth
Fernando Costa
Assistant City Manager
APPROVED AS TO FORM AND LEGALITY
Assistant City Attorney
ACKNOWLEDGEMENT
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, personally appeared James D. Finley,
known to me to be the person(s) whose name(s) is/are subscribed to the foregoing
Agreement, and who acknowledged to me that the document was read in its entirety and
understood and was executed for the purposes and consideration expressed therein.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this day
of , 20
Notary Public in and for the State of Texas
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
ACKNOWLEDGEMENT
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, a Notary Public in and for the
State of Texas on this day personally appeared Fernando Costa, Assistant City
Manager of the City of Fort Worth, known to me to be the same person whose name is
subscribed to the foregoing instrument, and acknowledged to me that the same was the
act of the City of Fort Worth and that he/she executed the same as the act of the City of
Fort Worth for the purposes and consideration therein expressed and in the capacity
therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this day of
, 20_
Notary Public in and for the State of Texas
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
EXHIBIT "A"
GRANTOR'S PROPERTY
A 30.512 acre parcel of land out of the A. Van Nordstrand Survey, Abstract No. 1584,
and the J. Foote Survey Abstract No. 534, situated in Tarrant County, Texas and being
a portion of Blocks 1 and 2 Lake Worth Leases, according to unrecorded plat File No. J-
175 on file at the City of Fort Worth Transportation & Public Works Engineering Vault,
and being a portion of that certain tract as conveyed to the City of Fort Worth by deed
recorded in Volume 350, Page 461 Deed Records of Tarrant County, Texas, and being
more particularly described by metes and bounds as follows;
BASIS OF BEARINGS is the Fort Worth Integrated G.P.S. Network System, N.A.D. 83,
North Central Texas Zone, distances shown hereon are ground measurements.
BEGINNING at a 5/8" iron rod set with aluminum cap stamped "C.F.W. SURVEY' in
place of Lake Worth Boundary Monument (called monument No. 8 per Lake Worth
Boundary Map filed under City of Fort Worth Transportation and Public Works File No.
F-83) lying in the easterly line of that certain tract of land described as 114.692 acres in
the deed to Quebec 820 Partners L.P. recorded under Instrument Number D205041458,
Deed Records of Tarrant County, Texas, being the southwest corner of Summit On The
Lake, Phase 2, according to plat recorded in Cabinet A, Slide 2043, Plat Records of
Tarrant County, Texas, and having surface coordinates of N= 6975109.08, E_
2298233.87,
THENCE North 89 degrees 51 minutes 18 seconds East along the Lake Worth boundary
line, the common line between said City tract and said Summit on the Lake addition, at
803 86 feet passing a 5/8" iron rod set with a red plastic cap stamped 'CITY OF FT.
WORTH SURVEY DIVISION' for reference, (all 5/8" iron rods set so capped unless
otherwise noted hereon), continuing in all 834.29 feet to a 5/8" iron rod found with
aluminum cap stamped `C.F.W. SURVEY" lying in the curved west right-of-way line of
Quebec St.(called 60.0 right-of-way per plat recorded in Volume 388 184, Page 95, Plat
Records of Tarrant County Texas), from said corner a brass disc found in concrete
stamped "Lake Worth Boundary Monument" (called monument No 7 per said File No. F-
83) bears North 89 degrees 51 minutes 18 seconds East, 2,079.70 feet;
THENCE southeasterly with said curve to the left having a radius of 1,113.10 feet
through a central angle of 07 degrees 10 minutes 48 seconds an arc length of 139.48
feet whose chord bears South 13 degrees 32 minutes 25 seconds East, a distance of
139.40 feet to a 5/8" iron rod found with aluminum cap stamped "C F.W. SURVEY" at
the end of said curve;
THENCE South 17 degrees 07 minutes 40 seconds East along the westerly line of said
Street, 123.03 feet to a 5/8" iron rod set with aluminum cap stamped "C.F W. SURVEY",
said corner bears North 17 degrees 07 minutes 40 seconds West 10.16 feet from a 5/8"
iron rod reset with aluminum cap stamped "CITY OF FT WORTH SURVEY' at the
intersection of the westerly line of said Quebec Street with the northwesterly right-of-way
line of Cahoba Drive (called 60.0' right-of-way per plat recorded under Cabinet A, Slide
5516, Plat Records of Tarrant County, Texas);
THENCE southwesterly with said curve to the left having a radius of 235.0 feet, parallel
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
to and 30 feet northwesterly of the northwesterly right-of-way line of said Cahoba Drive,
through a central angle of 30 degrees 55 minutes 05 seconds, at an arc length of 30.42
feet passing a 5/8" iron rod set, continuing in all an arc length of 126.81 feet whose
chord bears South 51 degrees 49 minutes 02 seconds West, 125.28 feet to a 5/8" iron
rod set at the end of said curve;
THENCE South 37 degrees 34 minutes 14 seconds West, parallel to and 30 feet
northwesterly of the northwesterly right-of-way line of said Drive 430.41 feet to a 5/8"
iron rod set at the beginning of a curve having a radius of 284.0 feet;
THENCE southwesterly with said curve to the left through a central angle of 39 degrees
43 minutes 40 seconds, an arc length of 196.92 feet whose chord bears South 17
degrees 42 minutes 24 seconds West, a distance of 193.0 feet to a 5/8" iron rod set at
the point of a reverse curve having a radius of 173.97 feet;
THENCE southwesterly with said curve to the right through a central angle of 106
degrees 40 minutes 27 seconds, an arc length of 323.90 feet whose chord bears South
51 degrees 10 minutes 49 seconds West, a distance of 279.10 feet to a 5/8" iron rod set
at the point of a reverse curve having a radius of 560.0 feet;
THENCE southwesterly with said curve to the left through a central angle of 57 degrees
16 minutes 50 seconds, an arc length of 559.85 feet whose chord bears South 75
degrees 52 minutes 41 seconds West, a distance of 536.82 feet to a 5/8" iron rod set at
the end of said curve;
THENCE South 47 degrees 14 minutes 16 seconds West, parallel to and 30 feet
northwesterly of the northwesterly right-of-way line of said Drive 589.30 feet to a 5/8"
iron rod set at the beginning of a curve having a radius of 115.0 feet;
THENCE northwesterly with said curve to the right through a central angle of 107
degrees 54 minutes 01 seconds, an arc length of 216.57 feet whose chord bears North
75 degrees 39 minutes 46 seconds West, a distance of 185.96 feet to a 5/8" iron rod set
at the end of said curve;
THENCE North 27 degrees 24 minutes 13 seconds West, 61.26 feet, to a 5/8" iron rod
set at the beginning of a curve having a radius of 255.0 feet;
THENCE northwesterly with said curve to the left through a central angle of 32 degrees
34 minutes 40 seconds, an arc length of 144.99 feet whose chord bears North 43
degrees 41 minutes 33 seconds West, a distance of 143.04 feet to a 5/8' iron rod set
lying in the approximate west line of said A. Van Nordstrand Survey and the approximate
east line of the Nancy Johnson Survey, Abstract No. 887, said corner bears North 00
degrees 01 minutes 05 seconds West, 35.46 feet from a 5/8" iron rod found with
aluminum cap stamped "C.F W. SURVEY" on the northerly right-of-way line of said
Cahoba Drive;
THENCE North 00 degrees 01 minutes 05 seconds West with said approximate survey
line, 156.38 feet to a 5/8" iron rod reset with aluminum cap stamped C.F.W. SURVEY"
lying in the Lake Worth boundary line, being the northerly line of said City of Fort Worth
tract, the southerly line of said 114.692 acre tract, from which a brass disc in concrete
stamped "Lake Worth Boundary Monument" found (called Monument No. 11 per said
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
File No. F-83, control monument) bears South 89 degrees 58 minutes 35 seconds West
1,470.70 feet;
THENCE North 89 degrees 58 minutes 35 seconds East with said Lake Worth boundary
line, the common line between said City of Fort Worth tract and said 114.692 acre tract,
432.50 feet to a 5/8" iron rod reset with aluminum cap stamped "C.F.W. SURVEY" in
place of Lake Worth Boundary Monument No. 10 (control monument);
THENCE North 00 degrees 01 minutes 05 seconds West with said Lake Worth boundary
line, the common line between said City of Fort Worth tract and said 114.692 acre tract
631.80 feet to a broken concrete monument found being the remains of Lake Worth
Boundary Monument No. 9;
THENCE North 44 degrees 44 minutes 14 seconds East with said Lake Worth boundary
line, the common line between said City of Fort Worth tract and said 114.692 acre tract,
798.58 feet to the PLACE OF BEGINNING, and containing 30.512 acres of land as
surveyed on the ground in June 2012.
INCLUDED HEREWITH is a 20 foot wide ingress and egress easement being a 628
square foot parcel of land out of the A. Van Nordstrand Survey, Abstract No. 1584,
situated in Tarrant County, Texas, and being a portion of Blocks 1 & 2, Lake Worth
Leases, according to unrecorded plat File No. J-175 on file at the City of Fort Worth
Transportation & Public Works Engineering Vault, and being a portion of that certain
tract of land as conveyed to the City of Fort Worth by deed recorded in Volume 350,
Page 461, Deed Records of Tarrant County, Texas, and being more particularly
described by metes and bounds as follows;
BEGINNING in the northerly curved right-of-way line of Cahoba Drive, having a radius of
530' (called 60.0' right-of-way per plat Cabinet A, Slide 5516, Plat Records of Tarrant
County, Texas) from which a 5/8' iron rod found with aluminum cap stamped "C.F.W
SURVEY' in said right-of-way line bears South 53 degrees 16 minutes 35 seconds
West, a chord distance of 111.51 feet;
THENCE North 47 degrees 14 minutes 34 seconds West departing said right-of-way
line, 31.22 feet to the northwest corner of herein described parcel lying in a curve having
a radius of 560.0 feet;
THENCE with said curve to the right through a central angle of 02 degrees 08 minutes
12 seconds, an arc length of 20.88 feet whose chord bears North 59 degrees 28 minutes
23 seconds East, a distance of 20.88 feet to the northeast corner of herein described
parcel;
THENCE South 47 degrees 14 minutes 34 seconds East, 31.60 feet to the southeast
corner of herein described parcel lying in the northerly right-of-way line of said Cahoba
Drive on a curve having a radius of 530 0 feet from which a 5/8" iron rod found at the
end of said curve bears North 83 degrees 03 minutes 06 seconds East, a chord distance
of 387.92 feet;
THENCE southwesterly with said curve to the left through a central angle of 02 degrees
16 minutes 11 seconds, an arc length of 20.99 feet whose chord bears South 60
degrees 27 minutes 00 seconds West, a distance of 20.99 feet to the PLACE OF
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
BEGINNING, and containing 628 square feet of land as surveyed on the ground in June
of 2012.
Basis of Bearings: the Fort Worth Integrated G.P.S. Network System, N.A.D. 83, North
Central Texas Zone. Distances are ground measurements.
In accordance with the Texas Board of Professional Land Surveying, General Rules of
Procedures and Practices 663 19(9), This `report" consists of the hereon real property
descriptions, and a Map of Survey being attached herewith.
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
EXHIBIT "B"
A 35.0 foot wide reservation for sanitary sewer facilities situated in the A. Van Nordstrand
Survey, Abstract No. 1584, Tarrant County Texas, and being a portion of that certain tract as
conveyed to the City of Fort Worth by deed recorded in Volume 350, Page 461, Deed Records of
Tarrant County, Texas, and being 17.5 feet on both sides of sewer line "SS 1 ' according to City of
Fort Worth Engineering Vault number X-20220, said centerline being more particularly
described as follows;
BEGINNING in the southeasterly property line of that certain tract of land as conveyed to
Quebec 820 Partners LP recorded at instrument number D205041458, Deed Records of Tarrant
County, Texas, same property line being the Lake Worth Boundary Line per map recorded at file
(F-83) on file at the Department of Transportation & Public Works Engineering Vault from which
a 5/8" iron rod set with aluminum cap stamped "C.F.W. SURVEY" in place of Lake Worth
Boundary Monument (called monument No. 10) per Lake Worth Boundary Map bears: South 00
degrees 01 minutes 05 seconds East, 15.57 feet;
THENCE: with said centerline the following courses and distances:
South 89 degrees 58 minutes 24 seconds East, 5.37 feet to an existing sewer manhole;
North 70 degrees 01 minutes 36 seconds East, 467.41 feet to an existing sewer manhole;
North 64 degrees 01 minutes 27 seconds East 700.76 feet to a point of termination lying in a
southerly line of a 30.512 acre tract surveyed this day for the City of Fort Worth from which a
5/8 ' iron rod set with a red plastic cap stamped `CITY OF FT. WORTH SURVEY DIVISION"
at the end of a curve being parallel and 30.0 feet northwest of the northerly right-of-way line of
Cahoba Dr. (called 60.0 feet R O.W. per plat Cabinet A, Slide 5516) having a radius of 284.0
feet, an arc length of 55.87 feet whose chord bears: North 31 degrees 56 minutes 07 seconds East,
55.73 feet.
Containing 0.959 acres of land as surveyed on the ground in June 2012.
Basis of Bearings: the Fort Worth Integrated G.P.S. Network System, N.A.D. 83, North Central
Texas Zone. Distances are ground measurements.
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - EXECUTION VERSION 12.12.13
M&C Review Page 1 of 2
CITY COUNCIL AGENDA
COUNCIL ACTION: Approved on 11/12/2012
DATE 11/12/2012 REFERENCE NO.:
CODE:
SUBJECT:
**L-15466
LOG NAME:
PUBLIC
HEARING:
Authorize Acquisition of a Restrictive Easement on a 9.773 Acre Parcel Located in the
North Accident Potential Zone I of the Naval Air Station Fort Worth Joint Reserve Base
from James D Finley and Authorize Execution of a Lease with an Option to Purchase a
30.512 Acre City Fee -Owned Parcel with James D. Finley (COUNCIL DISTRICT 7)
Official site of the City of Fort Worth Texas
FORT WORT II
065010 NASJRB
ESMT
L TYPE:
CONSENT
NO
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the execution and recording of the appropriate instruments for a restrictive easement for
a 9.773 acre parcel located in the North Accident Potential Zone I of the Naval Air Station Fort Worth
Joint Reserve Base from James D. Finley for the value of $613,000 00; and
2. Authorize a lease with an Option to Purchase with James D. Finley or an entity in which he is the
principal, for a 30.512 acre City fee -owned parcel, including (i) a lease for a period of 13 months, in
consideration of certain actions on the property by James D. Finley, and (ii) an option for the sale of
the property for the value of $915,360 .00 to James D. Finley or an entity in which he is the principal,
to which sales price the value of the Restrictive Easement will be applied, with net funds of
$302,360.00 paid to the City.
DISCUSSION:
RESTRICTIVE EASEMENT
In December 2011, the Texas Department of Transportation (TxDOT) placed a 9.773 acre parcel at
the corner of NW Loop 820 and Cahoba Drive (the TxDOT Property) for sale by auction. Mr. James
D. Finley of Fort Worth, who owns adjacent property to the east, was the sole and successful bidder.
The TxDOT Property is zoned for commercial development, but is located in Accident Potential Zone
(APZ) I off of the north end of the Naval Air Station Fort Worth Joint Reserve Base (NAS JRB) and
approximately 300 feet from Lake Worth; therefore the land use and water quality are of concern to
the base and the City
Being within the APZ I, the NAS FW JRB requested that the land uses on the TxDOT Property be
severely restricted in order to not interfere with the operations of the base. Local TxDOT staff is in full
support of accommodating the needs of the NAS FW JRB. Mr. Finley agreed that at the closing of
the sale of the TxDOT Property, he would execute a Restrictive Easement to prohibit development
and certain uses on the TxDOT Property if he were paid fair market value for the Restrictive
Easement, which is valued as follows:
Value of Restrictive Easement for TxDOT Property (9.773 acres): $766,300.00 (market value) -
$153,300.00 (land value) _ $613,000.00.
Although the United States Department of Defense offers a possible funding source, the grant
process is time-consuming and receipt is not guaranteed. Staff thus considered other options for
compensation for this Restrictive Easement.
LEASE WITH OPTION TO PURCHASE
Mr. Finley expressed interest in acquiring approximately 30.512 acres of City -owned land adjacent to
http://apps.cfwnet.org/council_packet/mc review.asp9ID=17542&councildate=11/12/2012 01/03/2014
M&C Review Page 2 of 2
his existing property (City Property). Staff agreed to lease the City Property to Mr. Finley on the
following terms:
Term of 13 months
Consideration for the lease will consist of (i) performance by Mr. Finley of certain actions on the
property to prepare it for sale, such as fencing, clean up, and re -vegetation, (ii) required use of best
management practices for water quality runoff into Lake Worth; and (iii) rezoning of the former
TxDOT Property to "AG" Agricultural to ensure that uses allowed by zoning are consistent with the
Restrictive Easement
The City will also grant an Option to Purchase the City Property to Mr. Finley, pursuant to Texas
Local Government Code Section 272.001(h) to allow him to purchase the City Property for fair market
value. The fair market value of the City Property is valued as follows:
City Property (30.512 acres): $30,000.00/acre = $ 915,360.00
If Mr. Finley exercises the Option to Purchase, at the closing of the sale of the City Property, the City
will apply the fair market value for the Restrictive Easement ($613,000.00) to the purchase price of
the sale of the City Property ($915 360.00). The City would then receive funds in the amount of the
difference ($302,360.00) at the closing of the sale. As part of the Option to Purchase Staff
recommends reserving from the City Property a 30-foot wide strip of land north of Cahoba Drive for
the future construction of a lake trail, and granting an access easement across the trail for Mr. Finley.
Funds received by the City for the value of the City Property in excess of the value of the Restrictive
Easement will be placed in the Lake Worth Management Fund with the intention of being used as
leverage for future funding opportunities. These may include Navy Readiness and Environmental
Protection Initiative (REPI) funds for future easements and land use controls, and various programs
for the acquisition of property for water quality buffer zones for Lake Worth.
On June 22, 2012, the commander of the NAS FW JRB provided support via email for this Restrictive
Easement and stated that this type of Restrictive Easement is compatible with the Air Installation
Compatible Use Zones (AICUZ) study and the base's long term mission compatibility goals.
The subject property is located in COUNCIL DISTRICT 7.
FISCAL INFORMATION/CERTIFICATION:
The Financial Management Services Director certifies that the Water Department is responsible for
the collection and deposit of funds due to the City.
TO Fund/Account/Centers FROM Fund/Account/Centers
FE70 442082 030001 $302.360.00
Submitted for Citv Manaaer's Office bv: Fernando Costa (6122)
Oriainatina Department Head: Randle Harwood (6101)
Additional Information Contact: Jocelyn Murphy (6226)
ATTACHMENTS
NASJRB MC loc mao.odf
http://apps.cfwnet.org/counciljacketlmc review.asp?ID=17542&councildate=11/12/2012 01/03/2014