HomeMy WebLinkAboutContract 55851CSC N o. 55851
LEASE AMENDMENT
TO LAKE WORTH RESIDENTIAL LEASE AGREEMENT
This LEASE AMENDMENT TO LAKE WORTH RESIDENTIAL LEASE AGREEMENT
("Amendment") is entered into by and between Phillip J. Bristow and Barbara B. Reese ("Tenant") and
City of Fort Wotth, a Texas home rule municipal corporation ("Landlord").
WHEREAS, Landlord entered into a ground lease ("Lease") on February 1, 1982 with C.H. Scro��s, the
original lessee under the Lease Agreement for properry located at 8b29 Heron Dr, with a legal description
more particularly described as Lot 23R-1 Block 29 Lake Worth Leases Addition, Fort Worth, Tarrant
Count� TX (the "Leased Premises"), said Lease attached hexeta as Exhibit "A";
WHEREAS, through assignment(s), the Lease is now between Landlord and Tenant for the Leased
Premises, and such Lease has a fifty year term ending on January 31, 2032;
WHEREAS, pursuant to Section 272.001(h) of the Local Government Code, Landlord is authorized to sell
the properry to the person leasing the land for the fair market value of the land as determined by a certified
appraiser;
WHEREAS, Landlord and Tenant desire to effect a sale of the Leased Premises fiom Landlord to Tenant
under Section 272.001(h) of the Local Government Code for the fau• market value of the land, and,
contemporaneously with this Amendment, is entering into a Purchase and Sale Agreement for the purchase
of the Leased Premises by Tenant within eighteen (18) months of the execution of the Purchase and Sale
Agreement; and
WHEREAS, the existing Lease does not provide for terms of disposition of the Leased Premises in the
event of a sale or for the terms of the termination of the Lease in the event of a failure to purchase the
Leased Premises under the Purchase and Sale Agreement, and the parties desire to amend the Lease to
provide for such terms.
NOW THEREFORE, in consideration of the mutual agreements herein and other good and valuable
consideration, the parties agree as follows:
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
1. Term. The term of the Lease is hereby amended to end upan the closing of the sale of the Leased
Premises under the Purchase and Sale Agreement, which shall occur within eighteen (18) months
after the Amendment Effective Date ("Closing Deadline"). If the closing of the sale of the Leased
Premises has not occun•ed by the Closing Deadline, this Lease shall expire on the Closing Deadline.
2. Expiration of Lease. Section VII EXPIRATION OF LEASE is hereby deleted in its entirety and
t�eplaced with the following:
"VII. EXPIRATION OF LEASE
A. Any buildings, improvements, additions, alterations, and fixtures (except furniture and
trade fixtures) const��ucted, placed, or maintained on any part of the Leased Premises during
the lease term are considered part of the real properiy of the Landlord and must remain on
the Leased Premises and become Landlord's properry when the Lease terminates.
B. Before the Lease ternunates, Tenant shall remove all personal property, furniture,
machinery, or equipment in, under, or on the Leased Premises. Before the Lease ternunates,
Tenant must repair any damage to any buildings or improvements on the Leased Premises
resulting fi•om the removal. Any such items not removed by the lease termination date will
become Landlord's property on that date."
3. Ownership of Improvements. Section X OWNERSHIP OF IMPROVEMENTS is hereby
amended by adding the following sentence at the end of the Section: "Upon expiration of this
Lease through the closing of the sale of the Leased Premises under the Purchase and Sale
Agreement, Tenant shall retain all right, title, and interest in the improvements on the Leased
Premises; however, upon the expiration of this Lease without a closing of the sale of the Leased
Premises under the Purchase and Sale Agreement, all right, title, and interest in the improvements
on the Leased Premises shall vest in Landlord without further payment by Landlord to Tenant for
the improvements, and Tenant shall not have any right to enter upon the Leased Premises."
4. Continued Terms and Provisions. All of the terms and provisions of the Lease between the
parties shall remain in full force and effect except as specifically amended herein.
Executed to be effective as of the date this Amendment is notarized by the City ("Amendment Effective Date"). LANDLORD:
CITY OF FORT WORTH, TEXAS, a Texas municipal corporation By: Dana Burghdoff, Assistant City Manager APPROVED AS TO FORM AND LEGALITY: _/I,� ..4w1a; Assistant City Attorney M&C: L-15964 1295: NIAATTEST: �<;� City Secretary City of Fort Worth Contract Compliance Manager: By signing I acknowledge that I am the person responsible for the monitoring and administration of this contract, including ensuring all performance and reporting requirements. Name of Employee: Nita Shinsky Title: Land Agent TENANT: Printed Name: Phillip J. Bristow .��:1>1,1Printed Name: Barbara B. Reese
STATE OF TEXAS § § COUNTY OF TARRANT § This instrument was acknowledged before me on the 2nd day of June 2021, by Dana Burghdoff Assistant City Manager of the City of Fort Worth, a Texas municipal corporation, on behalf of that entity. -
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SELENA ALA Notary Public STATE OF TEXAS Notary I.D. 132422528 Comm. Exp. Mar. 31, 2024 STATE OF TEXAS § § COUNTY OF TARRANT § SrlcnaAla (Jur12, 202117:26 C[ll} Notary Public This instrument was acknowledged before me on the Ji_ day of jc,b.t • 2021, by P,u,J Tc�s l u • STATE OF TEXAS § § COUNTY OF TARRANT § Notary Public 8 This instrument was acknowled�ed before me on the ..%__ day of ()i.,.r.,au/ '/t',ISI� Notary Public •2021, by---