HomeMy WebLinkAboutContract 44251 (2)- _ .;
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OPTION TO PURCHASE
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THIS OPTION TO PURCHASE ("Option"), dated �-y �, 2013, is between
The City of Fort Worth, Texas, a home rule municipality, ("Seller"), acting by and
through its duly authorized Assistant City Manager, Fernando Costa, and James D. Finley
("Purchaser").
RECITALS
A. Seller is the owner of certain tracts of real property, which are more
particularly described on Exhibit A, attached hereto and incorporated herein by reference
(the "Property").
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C.
Purchaser desires to purchase the Property.
Seller has agt�eed to grant to Purchaser an option to purchase the Property.
AGREEMENT
In consideration of the mutual covenants and other consideration in this Option,
Seller and Purchaser agree as follows:
l. Option Amount. In consideration of FIFTY AND NO/100 DOLLARS
($50.00) paid by Purchaser to Seller, Seller grants to Purchaser the exclusive right and
option to purchase the Properly, SUBJECT, HOWEVER, to the terms and conditions
hereinafter set forth. This option amount is in addition to and independent of any other
consideration or payment provided for in this Option, is nonrefundable, and shall be
retained by Seller notwithstanding any other provision of this Option.
2. Option Period. This Option shall expire on December 31, 2013,
Purchaser may exercise this Option by executing the Purchase and Sale Agreement, the
form of which is attached hereto as Exhibit B, and delivering it to Seller at the address
specified in Section 10 below prior to the expiration of the Option.
3. Purchase Price, The purchase price for the Property shall be $915,360,00
("Purc{aase Price"). Tf this Option is exercised in accordance with the terms hereof, then
the consideration described in Section 1, previously paid by Purchaser to Seller, shall
apply to the Purchase Price.
4. Agreement of Purchase and Sale, If this Option is exercised in
accordance with the terms hereof, then the Purchaser and Seller shall enter into a
Purchase and Sale Agreement, the form of which is attached hereto as Exhibit B, on
substantially the terms and conditions as set forth therein.
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R�CEIVED MAR W4LDi3
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5, Succession and Assignment. This Option shall inure to the benefit of and
be binding on the parties hereto and their respective successors and assigns. Neither
Purchaser nor Seller shall assign this Opiion or any rights or obligaiions hereunder to any
third party without the prior written consent of the other party and any attempted
assignment without the prior written consent of both parties shall be void.
6. Governing Law and Venue. This Option shall be governed by and
construed in accordance with the laws of the state of Texas. Venue of any action brought
under this Contract shall be in Tarrant County, Texas if venue is legally propar in that
county.
7. Performance of Agreement. The obligations under the terms of this
Option are performable in Tarrant County, Texas.
8. Severability. In case any one or more of the provisions contained in this
Option shall for any reason be held to be invalid, illegal, or unenforceable in any respect,
such invalidity, illegality or unenforceability shall not affect any other provision hereof,
and this Option shali be construed as if such invalid, illegal, or unenforceable provision
had never been cantained herein.
9. No Partnership. The terms, provisions and agreements set forth in this
Option are not intended to create a partnership or any other kind of joint venture, and
neither party hereto is hereby authorized or appointed to act as the agent or representative
of the other in any respect.
10. Notice.
A. Any notice required or permitted to be given hereunder by one party to the
other shall be in writing and the same shall be given and shall be deemed to have been
served and given if delivered in person to the address set foz�th herein below for the party
to whom the notzce is given, or placed in the United States mail, return recei�t requested,
addressed to such party at the addz�ess hereinafter specifed.
B. The address of Purchaser for all purposes under this Option and for all
notices hereunder shall be;
James A, Finley
1308 Lake Sireet, Suite 200
Fort Worth, Texas 76102
C. The address of Seller for all purposes under this Option and for all notices
hereunder shall be:
F�
Ciiy of Fort Worth
Water Department
1000 Throckmorton
Fort Worth, Texas 761 Q2
Attn: Lester England
With a copy to:
City Attoiney's Ofiice
1000 Throckmorton
Fort Worth, Texas 76102
Attn: Leann D. Guzman
D. From time to time any party may designate another address within the �
forty-eight (48) contiguous states of the United States of America for all purposes of this
Option by giving the other party not less than thirty (30) days' advance written notice of
snch change of address in accordance with the provisions hereof.
11. City Council Approval. The approval of the City of Fort Worth City
Council must be obiained for the sale of the Property; if the City Council does not
approve this contract, it shall immediately terminate. ,
12. Zoning. Purchaser acknowledges and agrees that any Zoning Change is
subject to the approval of the City Council.
13. Entire Agreement. This Option (including the exhibits hereto} contains
the entire agreement between Seller and Purchaser, and no oral statements or prior
written matter not speciiically incorporated herein shall be of any force and effect. No
variation, modificatian, or changes hereof shall be binding on any pariy hereta unless set
forth in a document executed by such parties or a duly authorized agent, officer or
representative hereof.
[SIGNATURES APPEAR ON FOLLOWING PAGE]
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EXECUTED by Seller and Purchaser to be effective as of the date first written above.
SELLER:
CITY OF
a Texas municipal coiporation
Approved as to Form and Legality:
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City Attorney,_
STATE OF TEXAS §
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COUNTY OF TARRANT § � �"'" �,�
This instrumen as acknawled ed befare me on �
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by Fernando Costa,`Assistant City Manager of the City of Fort Worth, a Texas municipal
corporation, on behalf of said municipal corporation,
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STATE OF TEXAS §
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COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, a Notary Public in and for the State of ,
Texas, on this day personally appeared 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 � 2� day of
�2�izV d4 � �) , 2013.
(SEAL) Notary Public, State of T
AILISON P JONES
My Commission Expires
March 9, 2016
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Exhibit A
Property Description
A 30.512 acre parcel of land out of the A. Van Nordsirand Sutvey, Abstract No. 1584,
and the J. Foote Survey, Abstract No. 534, situated in Tarrant County, Texas, and being a
portion of Biocks 1 and 2, Lake Worth Leases, according to unrecorded plat File No. J-
175 on file ai 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 Recards of Tarrant County, Texas, and being
more particularly described by metes and bounds as follows;
BASIS OF BEARINGS is the Fort Worth Tntegrated G.P.S. Networlc 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 Txansportation and Public Works File No.
F-83) lying in the easterly line of that certain traci of land described as 11�4,692 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 af Summit On The
Lake, Phase 2, according to plat recorded in Cabinet A, Slide 2043, Plat Records of
Tarrant Cou�ty, Texas, and having surface coordinates of N= 6975109.08, E—
2298233.87;
THENCE North 89 degrees 51 minutes 18 seconds Easi along the Lake Worth boundary
line, the common line between said City tract and said Summit on the Lake addition, at
Sd3.86 feet passing a 5/8" iron rod set with a red plastic cap stamped "CITY OF FT.
WORTH SUR.VEY DIVISION" for reference, (all 5/8" iron rods set so capped unless
aiherwise noted hereon), continuing in a11834.29 feet to a 5/8" iron rod found with
aluminum cap stamped "C.F.W, SURVEY" Iying in the curved west right-of-way line af
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 sautheasterly with said curve to the left having a radius of 1,113,10 feet
through a central angie of 07 degrees 10 minutes 48 seconds, an arc lengih of 139.48 feet
whose chord bears South 13 degrees 32 minutes 2S seconds East, a distance of 139,�10
feet to a S/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 Easi along the westerly line of said
Street, 123,03 feet to a S/8" iron rod set with aluminum cap stamped "C,�',W, SURVEY",
said corner bears North 17 degrees 07 minutes 40 secands West 10.16 feet from a S/8"
iron rod reset with aluminum cap stamped "CITY OF FT, WORTH SURVEY" at the
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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-af-way line of said Cahoba Drive,
through a central angle of 30 degrees 55 minutes OS seconds, at an arc length of 30.42
feet passing a 5/8" iron rod set, continuing in ail 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 lin� oi said Drive 430.41 feet to a 5/8"
iron rod set at the baginning of a curve having a radius of 284.0 feet;
THENCE southwesterly with said cuiwe 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 io 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 7S 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 S/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 Ol seconds, an arc length of 216.57 feet whose chord baars North 75
degrees 39 minutes 46 seconds West, a distance of 185.96 feet io 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 urith said curva 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 Iying in the
approximate west line of said A. Van Nordstrand Survey and the approximate east Iine of
7
the Nancy Johnson Survey, Abstract No. 887, said cot�ner bears North 00 degrees O1
minutes OS seconds West, 35,46 feet from a 5/8" iron rod found with aluminum cap
stamped "C.F.W. SURVEY" on the northerly right-af-way line of said Cahoba Drive;
THENCE North 00 degrees O1 minutes OS seconds West with said approximate survey
line, 156.38 feet to a S/8" iron rod reset with aluminum cap stamped "C,F.W, SURVEY"
lying in the Lalce Worth boundary line, being the northerly line of said Ciry 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 Monurnent No. ll per said
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 beiween 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 O1 minutes OS seconds West with said Lalce Worth boundary
line, the common line between said City of Fort Worth tract and said 114.692 acre traet,
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 BEGTNNING, 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, 1 S$4,
situated in Tarrant County, Texas, and being a portion of Blocks 1& 2, Lake Worth
Leases, aceording to unrecorded plat File No. J-17S on file at the City of Fort Worth
Transportation & Public Works Engineering Vault, and being a poi�tion of that certain
tract of land as conveyed to the City of Foirt Worth by deed recorded in Volume 350,
Page 4b1, Deed Records of Tarrant County, Texas, and being more pai�ticularly described
by metes and bounds as follows;
BEGINNING in the northerly curved right-of-way line of Cahoba Drive, having a radius
of 530' (called 60.0' right-of-way per plai Cabinet A, Slide 5516, Plat Records of Tarrant
County, Texas) from which a 5/8" iron rod found with aluminum cap stamped "C.F.W.
SURVEY" in said right-of-way line bears South 53 degrees 16 minutes 35 seconds West,
a ehord distanee of 111,51 feet;
THENCE North 47 degrees 14 minutes 34 seconds West departing said z�ight-of way line,
31.22 feet to the northwest corner of herein described parcel Iying in a curve l�aving a
radius of 560,0 feet;
;
THENCE with said curve to the right through a central angle of 02 degrees 08 minutes 12
seconds, an arc length af 20.8$ 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 noi�therly right-of way line of said Cahoba
Drive on a cuive having a radius of 530A feet from which a 5/8" iron rod faund 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. $3, North
Central Texas Zone. Distances are gxound measurements.
In accordance with the Texas Board of Prafessional 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.
0
Exhibit B
Purchase and Sale Agreement
[See Attached]
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CONTRACT OF SALE AND PURCHASE
(Sale by City of Fort Worth)
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 (coliectively, 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 shar•eline oi where Lake Worth's shoreline would
be if it were iilled to its storage capacity.
3. Purchaser is the current lessee of the Property pursuant to a lease between Purchaser and
Seller dated , 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 accardance with Texas Lacal Government Code 272.001(h).
AGREEMENT
In consideration of the mutual covenants in this Contract, Seller and Purchaser agree as
follows:
Section l. Sale and Purchase.
(a) Seller agrees to sell and convey the Property to Purchaser, and Purchaser agrees tv
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 alI liens, claims,
easements, rights-of-way, reservations, restriations, encroachments, tena.ncies, and any other
encumbrances (colleciively, the "Encumbrances") except the Encumbrances appearing in the
Title Commitment (as de�ined below in Section 3) and the survey (as deftned 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 in the Property. Seller waives and conv�ys
to Purchaser the right of ingress and egress to and from the surf�ce of the Property relating to the
CFW Sale to James D. Finley Page 1 of 39
portion of the mineral estate owned by Seller including, without limitation, the right to enter
upon the Property far 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
inc�rporated 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 oi 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 Coniract Consideration, Purchase Price, and Earnest Monev.
(a) Contemporaneously with the execution of this Contract, Purchaser delivers to
Seller a check in the amount of Fifty and OQ/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 thzs 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 Three Hundred
Sixty Dollars and 00/100 ($915,360.00}. Seller has obtained an appraisal of the Property and has
deternuned ihat the Purchase Price reflects the cui7ent fair market vaiue of the Property. Any
easements retained by the City will be at no cost to ihe 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 Purehaser's choice ("Title
Company") a check payable to the order of Title Company in the amount of
ONE THOUSAND AND NOl100 DOLLARS ($1,000,00) ("Earnest Money"), which Earn�st
Money shall be held in escrow and delivered by Title Company in accordance with the
provisions of this Contract. ,
Seetion 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 (°TitIe
Cammitment") from ihe Title Company, setting foi�th the status of the title of the Property and
showing all Encumbrances and other matters, ii any, relating to the Propei�ty; 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 39
(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 iield
notes describing the Property, prepared pursuant to a current on-the-ground staked survey
performed by a registered public surveyor or engineer satisfactory to Purchaser and Title
Company. The Survey shall (i) be certified to Purchaser, its successars and assigns, and Title
Company, (ii) reflect the actual dimensions of and the total number of squaxe 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 driv�way 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 wi11 be used in ail of the
docuxnents set forth in this Contract thai 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 (IS) days after receipt of the Title Commitment,
Survey and ail documents referred to in the Title Commitment, specifying Purchaser's objections
("Objeciions"), 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 4bjections,
cause the Title Commitment and Survey to be amended to give effect to matters that are cured,
and give Furchaser written notice thereof within the ffteen (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 iime
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 sha11 have any further
rights or obligations, or
(ii) to waive the (?bjections and coz�summate the purchase of the Property subject
to the �bjections 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 necessaty for Seller to cure the same.
Seeiion 4. Review Reports. Within five (S) 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 S. Renresentations, Warranties, "AS IS"
CFW Sale to James D. Finley Page 3 of 39
(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, WARRANTI�S, PROMISES, COVENANTS, AGREEMENTS
OR GUARANTIES OF ANY I�ND 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 TFIE PROPERTY INCLUDING, WITHOUT
LIMITATION, TI3E WATER, SOIL AND GEOLOGY, (B) THE INCOME TO BE
DERIVED FROM THE PROPERTY, (C) THE SUITABILTTY OF THE PROPERTY
FOR ANY AND ALL ACTIVITI�S 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, MARI�TABILITY, 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 DISCLA.IMS ANY
REPRESENTATIONS REGARDING CfJMPLIANCE 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 4N THE PR4PERTY, OF
ANY HAZARDOUS SUBSTANCE, AS DEFINED BY T�IE COMPREHENSIVE �
ENVIRONMENTAL RESP(�NSE COMPENSATION AND LIABILITY ACT OF 1980,
AS AMENDED, AND REGULATIONS PROMULGATED THEREUNDER.
PURCHASER FURTHER ACKNOWLEDGES AND AGR�ES 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 4F THE CONSIDERATION FOR THIS AGREEMENT, SELLER
AND PURCHASER AGREE THAT PURCIIASER IS TAKING THE PROPERTY ��AS
IS" WITH ANY AND ALL LATENT AND PATENT DEF�CTS AND THAT T�RE IS
NO WARRANTY BY SELLER THAT THE PROPERTY TS FIT FOR A PARTICULAR
PURPOSE. PURCHASER ACKNOWLEDGES THAT IT IS NOT RELYING UPON
ANY REPRESENTATIONS, STATEMENTS, ASSERTIONS OR NON-ASSERTIONS BY
TIi� 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 EXPENS�
FOR ENVIRONMENTAL PROBLEMS AFFECTING THE PROPERTY, EVEN IF
ARISING FROM EVENTS BEFORE CLOSING, WILL B� THE SOLE
CFW Sale to James D. Finley Page 4 of 39
RESPONSIBILITY OF PURCHASER, REGARDLESS OF WFIETHER THE
ENVIRONMENTAL PROSLEMS WERE KNOWN OR UNKNOWN AT CLOSING.
ONCE CLOSING HAS OCCURI2�D, PURCHA,SER INDEMNIFIES, HOLDS
HAR1VLi_.ESS 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 1VEGLIGENCE OF SELLER'S
REPRESENTATTVES, BUT NOT ANY WILLFUL ACTS OR OMTSSIONS OR GROSS
NEGLIGENCE OF SELLER OR SELLER'S REPRESENTATIVES. PURCHASER
INDEMNIFIES, HOLDS IIARMLESS AND RELEASES SELLER FROM ANY
LIABILITY FOR ENVIRONMENTAL PROBLEMS OR CONDITIONS AFFECTING
T�IE 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 T�IIS SECTION SHALL SURVIVE THE
CLOSING. IT IS UNDERSTOOD AND AGREED T1�AT THE PURCHASE PRICE HAS
BEEN ADJUSTED BY PRIOR NEGOTTATION TO REFLECT THAT ALL OF THE
PROPERTY IS SOLD BY SELLER AND PURCHASED BY PURCHASER SUBJECT TO
THE FOREGOING. PURCHASER ACKNOWLEDGES AND ACCEPTS ALL TI3E
TERMS AND PROVISIONS BY HIS ACCEPTANCE �IEREOF,
b. The provisions of Section 5(a} shall be incorporated into the Deed.
c. The provisions oi Section 5(a) shall survive the closing (as defined below).
Section 6. Ontion Period.
(a) Notwithstanding anything to the contrary contained in this Contraci, until forty-
�ive (45) days after the EfFective Date ("Option Period"), the following is a condition precedent
to Purchaser's obligations under this Contract:
Purchaser being satisfi
Property is suitable for
Purchaser being satisfi
below).
:d in Purchaser's soie and absolute discretion that the
Purchaser's intended uses, including, wi#hout limitation,
�d with the results of the Tests (defined in Section 7
(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 Seiler on or before the end of the Option Period, whereupon this Contraci shall terminate.
CFW Sale to James D. Finley Page S of 39
Upon such terrnination, neither party shali have any further rights or obligations under this
Coniract.
(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 Purchas�r's sole cast and risk, shall have the right #o
go on to the Property, including the Improvements, to make inspections, surveys, test borings,
soil analyses, and ather 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 wiIl
be restored by Purchaser to as near its original condition as possible at Purchaser's sole expense
following any site work. If tlZis 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 S. Closin� Continsencies.
(a) The closing ("Closing") of the sale of the Property by Seller to Purchaser shall
occur through the office of the Title Company in no more than (IS) 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 agYees to cooperate fully wzth Purchaser
in connection with Purchaser's pursuit of the above approvals.
(c) If any Closing Contingencies are not satisiied ta Purchaser's satisfaction so that
Purchaser is prepared to close on or befare than February 28, 2014, then Purchaser must
terminate this Contract, and upon the termination, Seller shall retain the Earnest Money and any
interest earned and neither party will have any further rights or obligaiions hereunder; however,
the Closing may be extended if the Closing Contingencies are not satisfied if agreed to in writing
by the pat�ties.
Section 9.
(a)
Clo_ sing•
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;
CFW Sale to James D, Finley Page 6 of 39 '
(i) A Special Warranty Deed ("Deed"), fully executed and
acknowledged by Seller, conveying to Purchaser good and
indefeasible fee simple iitle to the Property subject to existing
easements, rights-of-way, and prescriptive rights, whether of
record or not, with the precise form of the Deed to be determined
pursuant to Section 11 below;
(ii) A Lease Tertnination 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 const�uct 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 causa to
be delivered to Seller;
(i) Through the Title Company, federally wired funds or such other
m�ans of funding aeceptable to Se11er, 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
unireed/open area on the westein 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 form attached hereto as Exhibit
«D ,�
(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 arnount of the Purchase Price insuring
that, after the completion af the Closing, Purchaser is the owner af indefeasible
fee simple title to the Property, subject only to the Permitted �ncumbrances, and
the standard printed exceptions included in a Texas Standard Form Owner Policy
of Tit�e Insurance,
(4) The Independent Contract Consideration sha11 be applied to the Purehase
Price at Closing, -
(5) Seller and Purchaser shall eaeh pay their t�espective attorneys' fees,
(6) Purchaser shall pay all recording fees and any other elosing costs as set
foi�th by the Title Company.
CFW Sale to James D. Finley Page 7 of 39 .
(b) Ad valorem and similar taxes and assessments, if any, relating to the Propei�y
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 year in which
the Closing occurs. As soon as the amount of taxes and assessments on the Froperty for that year
is known, Seller and Purchaser shall readjust the amouni of taxes ta 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 tenancics of every kind.
Section 10. Credit for Restrictivc 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
irom Purchaser a Restrictive Easement on the State Parcel for a purchase price of $613,000.00,
which amount wi11 be credited against the Purchase Price for the Property at the Closing of the
sale of the Property uuder 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 Easemeni 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 shail be credited in the amount of $613,000.00.
Section 11. A�ents. Except for Jerry Barton who is representing Purchaser, Seller and
Purchaser each represent and warrant to the oiher 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. Closin� Documents. No later than fifteen (1S) days prior to the Closing, Seller
shall deliver to Purchaser a copy of the Special Warranty Deed, whieh is subjeet to Purehaser's
reasonable right of approvai.
Seetion 13. Notices.
(a) Any notice under this Contraet shall be in writing and shall be deemed to have
been served if (i} delivered in pexson to the address set forth below for the party io 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
speciiied below, (iv) deposited into the custody of Federal Express Corporation to be sent by
FedEx Overnight Delivery or other reputable overnight carrier for next day delivery, addressed _
to the party at the address speeified below, or (v} teleeopied to the party at the telecopy number
listed below, provided that the iransmission is confirmed by ielephone on the date of the
transmission.
CFW Sale to James D. Finley Page S of �9
(b)
(c)
The address of Seller under this Contract is:
City of Fort Worth
1000 Throckmorton Street
Fort Worth, Texas 76102
Attention: Lester England
Water Depai�tment
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
The addxess 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
5051'ecan St., Suite 101
Fort Worth, Texas 76102
Telephone: 817-877-3 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. Terminat�on, Default, and Remedies,
(a} If Purchaser fails or refuses ta consummate the purchase of the Property pursuant
to this Contract at the Closing for any reason other than tei7nination of this Contract by Purchaser
pursuant to a right so to terminate expressly set forth in this Contract or Seller's failure to
perform Seller's obligations under this Contract, then Seller, as Seller's sole and exclusive
remedy, shall have the right to terminate this Contract by giving written notice thereof to
Purchaser 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 oi the Properry pursuant to this
Contract at Closing or fails to perform any of Seller's other obIigations 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 �ontract, This Contract (including the attached exhibits) contains the
entire eontract between Seller and Purchaser, and no arai statements or priar written matter not
specifically ineorporated herein is of any force and effect. No modifications are binding on
�ither party unless set forth in a document executed by that party.
CFW Sale to James D. Finley Page 9 of 39
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 attempied assignment
shall be void.
Section 17. Time of the Essence, Time is of the essence under this Contract,
Section 18. Tal�ing Priar io Closin�. 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 zn
accordance with the Iaws of the State of Texas.
Section 20, Per%rtnance of Contract. The obligatians under the terms 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 Contraci shall be in Tarrant
County, Texas if venue is legally proper in that couniy,
Section 22. Severabilifv. 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.
Seetion 23. Business Days. If the Closing or ihe day for per%rmance 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, Counternarts. 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 FOLLOWIN� PAGE]
CFW Sale to James D. Finley
Page 10 qf 39
This Coniract is executed as of the Effective Date.
SELLER: CITY OF FORT WORTH, TEXAS
By:
Assistant City Manager
Attest
Mary Kayser
City Secretary
�I►��:��
Date:
DOE#
Approved as to Legality and Form
Assistant City Attorney
PURCHASER:
James D. Finley
CFW Sale to James D. Finley Page 11 of 39
By its execution below, Title Company acknowledges receipt of the Earnesi 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 39
EXHIBIT "A"
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 Couniy, 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 & PubIic Works Engineering Vault,
and being a portion of that certain tract as conveyed to the Ciiy of rort Worih 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 Fzle 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 D2Q5041458,
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 Counfy, 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 sei with a red plastic cap stamped "CITY OF FT.
WORTH SURVEY DIVISION" for reference, (a115/8" 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" Iying in the curved west right-of-way line af
Quebec St,(called b0,0' right-of-way per plat recorded in Volume 388-184, Page 95, Plat
Records of Tar�•ant 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 I'INLEY CITY PROPF.RTY SALE - FINAL 1.29.13
intersection of the westerly Iine of said Quebec Street with the northwesterly right-of-way
line of Cahoba Drive (called 60.0' right-of-waq 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 OS seconds, at an arc length of 3Q.42
feet passing a S/$" iron rod set, continuing in all an arc length of 126.81 feet whose chord
bears South 51 degrees 49 minutes 02 seconds `Nest, 125.28 feet to a 518" iron rod set at
the end of said curve;
THENCE South 37 degrees 34 minutes 14 seconds West, parallel to and 30 feet
northwesierly of the noi�thwesterly right-o%way line of said Drive 430.41 feet to a 5/S"
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 I 73.97 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 revers� curve having a radius of 560.0 feet;
THENCE sauthwesferly with said curve to the left through a central angle of S7 degrees
16 minutes 50 seconds, an arc length of 559,85 feet whose chord bears South 75 degrees
S2 minutes �1 seconds V�est, a distance of 536.82 feet to a S/8" iron rad set at the end of
said curve;
THENCE South 47 degrees 14 minutes 16 seconds West, parallel ta 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 angie of 107
degrees S4 minutes O1 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;
THEI`10E 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
3�4 minutes 40 seconds, an are Iength of 14�,99 feet whose chord bears North 43 degrees
4I minutes 33 seconds West, a distance of 1�3,04 feet to a 5/8" iron rod set lying in the
appro�imate west line of said A. Van Nordstrand Survey and the approximate east line of
SAL�S CONTRACT FOR rINL�Y CITY PROFERTY SALE - FINAL 1.29.13
the Nancy Johnson Survey, Abstract No. 887, said corner bears North 00 degrees O1
minutes OS 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 oi said Cahoba Drive;
THENCE Noi�th 00 degrees O1 minutes OS 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) 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
Iine, 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 O1 minutes OS 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 af Lake Woi�th
Boundary Monument No, 9;
THENCE Noi�th 44 degrees 44 minutes 14 seconds Easi 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' (cailed 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 Iine bears South 53 degrees 16 minutes 35 seconds West, '
a chord distanee 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 - FINAL 1.29.I3
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 descxibed 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 af
3 87.92 feet;
THENCE southwesterly with said curve to the left through a central angle of 02 degrees
16 minutes 11 seconds, an arc Iength of 20,99 feet whose chord bears South 60 degrees
2? 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" cansists of the hereon real property
descriptions, and a Map of Survey being attached herewith.
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - FINAL !.29,13
EXHIBIT "B"
Description of State Parcei
Being a 9.773 acre (�25,700 square feet) tract of land, more or less, situated in the Nancy .
Johnson Survey, Abstract No. 887, Tarrant Counfy, Texas, being a1�1 of that cet�tain traci ,
of land described as Tract 1 and Tract 2 in a deed to the State ;of Texas an:d reco`rded,�iri .•
Instrument Number D205292577, D.R.T.C.T., said Tract 1 beiiag Lo� 2, Bl�ock 1, Ca�Qli.a : �
Business Addirion, as filed in CabineY A, Slide 5846, Plat Records, Tarrant County,
Texas (P.R.T.C,T.) said 9.773 acre tract being more particularly �escribed by tnetes and
bounds as follows; � • � ' `
Beginning at a brass cap in concrete stamped Lake Warth Boundary. Monument found, as
shown on the Lake Worth Boundary Maps, File F-83,, on fi1e af �the >Departcrient of:.
Engineering of the City of Fort Worth,` on the north line of a tract of land "tc5'{th�'��ity .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 mosf southeriy southwest coxner of said Lot 2, Block I, fram
which a brass cap in cancrete sfamped Lake Worth Boundary Monument found bears
South 89° 42' 32" East, a distance of 798.29 feet;
1) Thence North 89° �2' 32" West, along the south 1'[ne of said Tract 2, a distance of
102.45 feet a 5/8 inch plastic capped iron rod stamped "TRANSYSTEMS
CORPpRATION" found for the southwest carner of said Tract "C", same being
the nartheast right-of way line of Cahoba Drive (a 60 foot right-of-way) as
dedicaied per plat recorded in Cabinet A, Slida 5516, P.R.T,C.T, and beii�g_q�n a
carve to the left whose center beats $outh 62° 54' 42" Wesf, a distance of 830;2I
feet; � • � �
2} Thence in a narthwesterty direction along said curve fo the lett, same�.having a
central angle of 22° 53' 17", a distanee of 331,64 feet, and a long chord which
bears North 38°31'56"West, 329.44 feet, to a 518 inch plastic capped iron rad
sfamped "TRANSYSTEMS CORPORATION" set for northwest corner oi said
Tract 2, same being the mast southerly southeast corner of Lot 1-R, Block 1,
Cahoba Business Addition, as filed in Cabinet A, Slide 8004, P.R.T.C.1',;
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-IZ, a distance of 36.73 feet to a
5/8 inch plastic capped iron rod stamped "TRANSYSTEMS CORl'ORATION"
faund for the northeast corner of said Txact 2 and the most southerly east carner
of Lot 1-R, Btock 1, same being on a west line of said Lot 2, Block 1;
4} Thence North 44° 52' 04" West, along tfie common line of said Lot l-R and said
Lot 2, Bloek l, a disiance of 67,74 feet ta a 5/8 inch plastic aapped iron rod
stamped "TRANSYSTEMS CORPORATION" found for the most northerly
southwest corner af said Lot 2, Bloek 1, same being a common interior eoi�ner of
said �,ot 1-R, Block l;
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - FINAL 1.29.13
5) North 32° 53' 39" East, along the common line of said Lat 1-R and said Lot Z,
Block 1, a distance of 12.74 feet to a 5/8 inch �plastic capped iron rod stamped
"TRANSYSTEMS COIZPORATION" found;
6) Nortli 13° �6' 33" West, along the common Iine of said Lot 1-R and said Lot 2,
Block l, a distance of 156.33 feet to a 5/8 inch plastic capped iron rod stamped
"TRANSYSTEMS COI2.PORATI�N" found at the beginning of a curve to the
right whose center bears North 76° 53' 27" East, a distance of 60.00 feat;
7) rn a northerly direction along said curve to the right, same having a central angle
af 37° 45' S2", a distance af 39.55 �eet and a long chord which bears North
05°46'23"Easf, 38.83 feet to a 5/8 inch plastic capped iron rod stampad
"TRANSYSTEMS CORI'ORATION" found for the end of said curve;
8) North 24° 39' 19" East, along the comtnon line of said Lot 1-R and said Lot 2,
Blocic 1, a distance of 222,04 feet to a 5/8 xnch plastic cappad iron rod stamped
"TRANSYSTEMS CORPORA'�ION" found on tha southerly right-of-way line of
IH 820 (a variable width right�of way), same being tha northwest earner of said
Lot 2, Block 1 and the northeast cozner bf said Lat I R, Block 1, frozn which a
TxDOT Type II monument found bears South 71 ° 08' S7" West 217,58 feet;
9) North 71° 08' S7" East, along the noxth line oi said Lot 2, Block 1 and said
southerly right-o� way line, a distance of 82.97 feet to a 5/8 inch plastic capped
iron rod stamped "TRANSYSTEMS CORP�RATION" found at the beginning of
a curve to the ]eft whose center bears No�th 18° 50' S3" V�lest, 2,894.79 feet;
10) In a easterly direction along said curve to the Ieft, same having a central angle of
0�° 49' 19", a distance of 243,62 feet and a long chord which bears North
68°44'27"�ast, 243,55 feet to a 5/8 inch plastic capped iron rod siamped
"TRANSYSTEMS CORPORA.TZON" found for the nor�heast corner of said Lot
2, Block l, same boing the northwest corner of Lot 1, Block l, Allen's Landing as
recarded in Cabinet A, S1ide 423 S, P.R,T,C,T.;
11) Thence Souih 2S° I9' 17" East, along the common east line of said Lot 2, $lock 1
and the west lins of said Lot 1, B1ocic 1, a distance of 396.95 feet to a 3 inch metal
post found for the southwest corner of said Lot 1, Block l;
12) Thenee South 25p 21' 1'S" East, contlnuing a[ong the aast line of said Lat 2, Block
� and khe west line of a tract of Xand to Quehec 82Q Partnsrs, LP, xecorded in
Instrument Number D20SOq�1458, D,R.T,C,T,, a distance of SS2,22 feet to the
southeast corner of said Lvt 2, Block 1�nd the sauthwssi earner of said Quebee
820 Partners tract being in the north line of said Cify of Fort Worth tract, fram
which a brass cap in conciete Lake VJorth Boundax�y Monuinent found bears
Sou#h 89° 42' 32" �ast, a distance af 354,08 feet;
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - FINAL 1.29.13
13) Thence North 89° 42' 32" VVest, along the comtnon south line of Lot 2, Block 1
and north Iine of said City of Fort Worth tract, a distance o�444.22 feet to the
POINT OF BEGINNING and containing 9.'1'13 acre (425,700 square•feet) of land
maie or less,
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - FINAL 1,29.13
EXHIBIT "C"
STATE OF TEXAS
COUNTY OF TARRANT
§
§
§
KNOW ALL MEN BY THESE PRESENTS
RESTRICTIVE EASEMENT
THIS GRANT OF EASEMENT, made this day of January, 2013, by
James D. Finley, hereinafter r•eferred to as the "Grantor", to the City of Fort Worth
having an address of 1000 Throckmorton, Fort Worth, Tarrant County, TX 76102,
hereinafter "Grantee".
WITNESSETK
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 Fart 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 su£ficiency of which is hereby ack.nowledged by
Grantor, and the mutual covenants, terms, conditions and restrictions contained herein,
Grantor her�by grants and conveys to the Grantee a restrictive easement (the "Easement")
over the Property, af the nature and character and to the extent set forth herein.
1. Purpose. It is the purpose of this Easement to prevent any improvement,
deveFopment 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 lang as the property to
the south is used as an airiield
2. Ri�hts 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 Froperty that would encumber, imp�de,
limit or otherwise be incompatible with the mission of the Installation and the
puzpose of this Easement, including the right to prohibit any such development or
SALES CON"I'RACT FOR FINLEY CITY PROPERTY SALE - FINAL 1.29.13
use in its entirety, which Grantee hereby prohibits.
b. All rights to the removal of any non-cornplying 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 nan-compliance with the terms of this Easement to
enforce the terms of this Easement; provided that Grantee will provide at leasi
five (5) days' notice of such entry io Grantox, except when there is a threat of
imminent harm of personal injury or property damage. Grantee sha1l not
unreasonably inferfere with Grantor's use and quiet enjoyment of the Property,
d, The right to grant or assign this Easement 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 Granior,
3. Restricted Uses and Development Ri�hfs. Any activity or use of the Praperty
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.
Wiihout limiting the generality of the foregoing, and except as specifically permitted, the
following activities and uses are expressly prohibited:
1. The erection, constructian, installation, alteration or growing, whether public or
private, of any structure, building, antenna, tower, wire, tree or other obstructian,
whatever its nature, extending more than 50 feet above ground level (AGL) is
prohibited. .
2, New construction of any structure or ediiice, and any other additions to, or
alterations of the Properiy on the easement wiihout express written notice by
Gxantor 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 �asement without the express written
authorizatian of Grantee, provided that any proposed improvements that meet the
requirements oi this Easement shall receive a"Letter of No Objection" fiom 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 appraval6y 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 sa that no Iight is emitted
above the horizontal plane.
6. Human habitaiion, including but not limited to temporary accommodations such
as cabins, trailers, RVs, and tents.
SALES CONTRACT FOR FINLEY CPI'Y PROP&RTY SALE - FINAL 1.29,13
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 hereunder), 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 permitted without
prior notificatian.
$. 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 ali-ienain vehicles.
4. Grantor's Ri�hts and Obli�ations.
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 stiuctures for the
maintenance and protection of farm and ranch animals and equipment only, at a
location of Grantor's choice.
(2) Controlling predatory and problem animals by the use of selectiva
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 storm water impoundments on the Property, provided they are not
enhanced for the attraction of waterfowl, However, should the impoundments or
other improvements made atfract such a concentratian 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 impravements 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 recreaiionai uses, and Silviculiure
and Use of Natuxal Resources (as those terms are d�fined below),
A, Agriculture and Farmin�, "Agriculture and farming" means all
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - FINAL 1.29,13
methods designed to produce and manage craps, 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 anirnals 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 alI
non-public recreational activities (such as but not limited to hiking,
horseback riding, bird watching, iishing, hunting and camping limited to
the personal use by Grantor and Grantor's invitees), thai require no surface
alteration or other development of the Property, and not inconsistent with
the resirictions or the purposes of this Easement.
C. Silviculture and Use of Natural Resouices. "Silviculture and
Use of Natural Resources" means all silvicultural and oiher exploitation of
the Property's natural resources, including but not limited to timber
harvesting (to include thinning and clearcutting of marketable timber),
mechanical and chemicai site preparation, reforestatzon, and all other
aciivities 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 Properiy for agricultural uses within the
limitatians of this easement shall follow water qnality Best Management Practices.
S. Notification Provisians.
a. Notice of Intent to Undertake New Uses and Construction, Whenever Grantor
plans to undertake a new use or conshuction on the Property that requires a permit from
the City �f Fort Worth, Granto� 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 praposed activity in sufficient detail to permit the
Grantee to make an informed judgment as to its consistency with the puipose of this
Easement. Failure of Grantor to give such notice shall be deemed a breach of the te��rns
of this Agreement. Furthermore, should Grantor undertake to make any improvements to
SALES CONTRACT FOR FINLEY CITY PROPBRTY SALE - FINAL I.29.13
control stormwater runaffpursuant to paragraph 4 above, the provisions of this paragraph
shall apply.
b. Gran#ee'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 deternunation by
ihe Grantee that the action proposed would be inconsistent with ihe pu�pose 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 ninety (90) day
time frame or extension oF iime if granted by Grantee, Grantee may:
a. Take necessary actions to correct the non-compliance and upon request by
Grantee, Grantor shall reimburse Grantee %r its reasonable costs incurred to
correct the non-compliance;
b. Institute mediaiion or other alternative dispute resoluiion strategy that is agreed
to by the parties; and
c. Instiiute 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 Iaw ox equity. En%rcement of the terms of this
Easement shall be at the discretion of the Grantee. No failure on the part of the Grantee
to enforce any tertn hereaf 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 I,iabili#ies. Grantor retains all responsibilities and shall bear all costs and
liabilities of any Icind related to the ownership and maintenance of the Property.
$. Noise aud Other Effects of Air Operations. It is acknowledged that the Property is
within the norih 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
partzcles and ail ather 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 aireraft by or far 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 - FINAL 1,24.13
As used herein, the term "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 ihe air by whomsoever
owned or operated.
9. 5ubsequent Transfers. Grantor agrees to reference and incoiporate the terms of this
Easement in any deed or other Iegal 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 Graniee 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 io earlier
termination as allowed in ihis Easement.
b. If the property used by the Instailation as of the date of this conveyance
ceases to operate as an air�eld 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 Lalce Street, Suite 200
Fort Worth, Texas 76102
To Grantee: Czty of Fort Worth
1000 Throckmorton
Fort Worth, TX 76102
Copy to: Commanding Officer
Joint Reserve Base
Fort Worth, TX
or to such othex address as either party may designate by written notice to the other.
TO HAVE AND TO HOLD the aforesaid easement in, over, and upan 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 COI�fTRACT FOR FINLEY C[TY PROPERTY SALE - FINAL I.29.13
IN WITNESS WHEREOF, Grantor has caused this instrument to be effective the day
and year first written above.
GRANTOR: James D. Finley
James D. Finley
GRANTEE: City of Fort Worth
Fernando Costa
Assistant City Manager
APPROVED AS TO FORM AND LEGALITY
Assistant City Attorney
SALES CONTRACT FOR TINLEY CITY PROPERTY SALE - FINAL 1.29.13
ACKNOWLEDGEMENT
STATE OF TEXAS
COUNTY OF TARRANT
0
��
BEFORE ME, the undersigned authority, a Notary Public in and for the 5tate of
Texas, on this day personally appeared 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 consideraiion therein expressed.
GIVEN LTNDER 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
�
�
BEF4RE 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
. 2013.
day of
Notary Public in and for the State of Texas
SAI.ES CONTRACT FOR FINLEY CITY PROPERTY SALE - FINAI. 1.29. ( 3
Exhibit "A"
Property Description
Being a 9.773 acre (�25,700 square feet) tract of land, more or Iass, situated in the Nancy .
Johnson Survey, Abstract No, 887, Tarrant County, Texas, being a1'1 of ihat 4ertain tracf .
of Iand described as Tract 1 at�d Tract 2 in a deed io the State;gf Texas and recorded,�iri ��
Instrument Number D205292577, D.R.T.C.T., said Tract 1 beirig Lot 2, B1�ock 1, Ca�Qlia �. -
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 in�tes and
bounds as follows; � • ' ' � '
Beginning at a brass cap in concrete stamped Lake Warth Boundary. Monumenf found, as
shown on the Lake Worth Boundary Maps, Rile F-83,, on file af��the >Department of:.
Engineering of the City of Fort Worth,' on the north line of a tract of land t4 �'4h�'_��ity of �
"�'ort Worth as recorded in Voluma 350,1'age 461, D,R,T,C,T. for the southeast oorner of
said Tract 2 and being the most southerly southwest eorner 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 Iine of said Tract 2, a distance of
102.45 feet a 5/8 inch plastic capped iron rod stamped "TRANS�'STEMS
CORPORATION" faund fox the southwest corner of said Tract "C", same being
ih� northeasi right-of-way line of Cahoba Drive (a 60 faot right-of-way) as
dedicated per plat recorded in Cabinet A, Slide SSlb, P.R,T.C.T, and be'ing..vn 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 ourve to the left, same having a
central angIe of 22° 53' 17"•, a distance of 331,64 feet, and a long chord which
bears North 38°31'S6"West, 329.44 feet, to a 5/8 inch plastic capped iron rod
stamped "TRANSYSTEMS CORPOR.ATION" set for norEhwest corner oi said
Tract 2, same being the most southerly southeast corner of Lot 1-R, Block I,
Cahoba Susiness Addition, as fited in Cabinet A, Slide 80Q4, P.R,T.C.'T.;
3) Thence North 32° S3' 49" East, along the comm.on 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
S/8 inch plastic capped iron rod stamped "TRANSYSTEIviS C�RPORATION"
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 Iine of said Lot 2, Block l;
4) �'hence North 44° 52' 00" West, along the common line oFsaid T.at l-R and said
Lot 2, Block 1, a distance of 67,74 feet to a 5/8 inch plastic capped irpn rod
stamped "TRANSYSTEMS C�R.PORATION" found for the most northerly
southwest corner ofsaid Lot 2, Block 1, samc being a common interior coi�ner oi
said Lot 1-R, Block l;
SALES CONTRACT FOR FINLEY CPI'Y PROPERTY SAT.E - F[NAL 1.29.13
5) North 32° 53' 39" East, along the common tine 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;
�) Nortl� 13° 06' 33" West, aIong the common line af said Lot 1-R and said Lot 2,
Btock 1, a disfance of' 15G.33 feet to a 5/8 inch plastic capped iron rod stamped
"TRANSYSTEMS CORPORATTON" found at the beginning af a curve to the
right whose center bears North 76° 53' 27" East, a distance of 60.00 feet;
7) In a northeriy direction along said curve to the righi, same having a central angle
of 37° 45' S2", a distance of 39.55 %et and a long chord which beax�s North
OS°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.Q4 feet to a 5/8 inch plastie aapped iron xod stannped
"TRA.NSYSTEMS CORPORA.TION" found on the soufherly right�of way line of
IH 820 (a variable width right-o£ way), same being the noz�hwest eorner of said
Lot 2, Block 1 and the northeast corner b� said Lot 1�R, 81ock 1, from which a
TxDOT Type II monument found bears South 71° 08' S7" West 217,58 feet;
9) North 71° OS' 57" �ast, 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 S/8 inch plastic capped
iron rod stamped "TRANSYSTEMS CORPORATION" faund at the beginning of
a curve to the left whose center bears North 18° 50' S3" West, 2,89�.79 feet;
10) Tn a easierly direction along said cuiwe io the left, same having a cantral angle of
dA�° 49' 19", a distance of 243,62 feat and a long chord whieh bears North
68°44'27"�ast, 243.SS feet to a 5/8 inoh plastic capped iron rod stiamped
"TRANSYSTEMS CQRPORATION'° found for fhe northeast corner oi said Lot
2, Block 1, same being the northwest coYner of Lot 1, Block l, Allen°s Landing as
recorded in Cabinet A, Siide 4235, P.R,`T.C.T.;
l 1) Thence South 2S° 19' 17'° East, along the common east line of said Lot 2, �lock 1
and the west ]ine of said Lot 1, Block l, a distance o�396,95 feet to a 3 ineh metal
post found for the southwest corner af said Lot 1, Block l;
12) Thence South 2S° 21' 1'S" East, aontinuing along the east line af said Lot 2, Bl4ck
1 and the west line of a tract of land to Quebsc 820 Partners, LF, recorded in
Tnsixument Number D205041458, D,R.T.C.T., a distance of SS2,22 feet to the
southeast eorncr of said Lot 2, �lock 1 and fhe southwest corner of said Quebec
820 Partners traet being in the north line of said City af Fart Worth traat, from
which a brass cap in concrete Lake Worth Boundary Monument found bears
South 89° 42' 32" �ast, a disfance af 354.08 feet;
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - FINAL 1.29.13
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 tt�act, a distance of 444.22 feet to the
POINT OF BEGINNING and containing 9.7'13 acre (425,700 square•feet) of land
more or less,
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - F[NAL 1.29.13
EXHTBIT "D"
STATE OF TEXAS
COUNTY OF TARRANT
DATE:
GRANTOR:
�,
,
KNOW AL.L MEN BY THESE PRESENTS
CITY OF FORT WORTH
PERMANENT SEWER FAC{LITY EASEMENT
JAMES D. FINLEY
GRANTOR'S MA(LING ADDRESS (inc{uding County):
1308 Lake Street, Suite 20Q
Fort Worth, Texas 76102
GRANTEE: CITY O� 1=0RT WORTH
GRANTEE'S MAfLING ADDRESS (including County);
1000 THROCKMORTON ST.
FORT WORTH, TARRANT COUNTY, TX 76102
CONSIDERATION: Ten Dollars ($'l0.00) 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 Counfy, Texas, and
being a portion of that certain tract as conveyed to Grantor by deed recorded at
Clerk's File No. , Reai 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 feei 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 considerafion paid to Grantor and other �ood and valuable
consideration, hereby grants, sells, and conveys ta Grantee, its successors and assigns,
an exclusive, perpetua! easement for the construction, operatian, maintenance,
replacement, upgrade, and repair of a Permanenf Sewer �ine Facility, hereafter referrsd
to as "Facility". The Facility includes all incidental underground and aboveground
attachmenfs, 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 CTI'Y PROPERTY SAI,E - FINAL t.29.13
across a portion of Granfor's Property and more fully described in Exhibit "B" attached
hereto and incorporated herein for ail pertinent purposes, fogether with fhe right and
privilege at any and all times to enter Grantor's Property, or any part thereof, for the
purpose of construcfing, 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 materiai way or is inconsistent with the rights granted hereunder,
or (II) erect or permii 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
buiiding permit. Howsver, Grantor shall be permitted to install and rnaintain 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 determinaiion as
reasonably exercised), may instali, construci, maintain, repair, or replace any
utilities (including water, gas, electricity, sewer, cab(e tefevision 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 Iocated 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 shail 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 ail and singular
the righis 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 CONTRAGT FOR FRJLEY CITY PROPERTY SALB - FINAI, 1.29.13
GRANTOR; James D, Finley
GRANTEE: City of Fort Worth
Fernando Casta
Assistant City Manager
APPROVED AS TO FORM AND LEGALITY
Assistant City Attorney
STATE OF TEXAS
COUNTY OF TARRANT
ACKNOWLEDGEMENT
�
�
BEFORE ME, ihe 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 thaf 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
of , 20
Notary Public in and for the State of Texas
day
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - FINAL 1.29.13
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 personaliy appeared Fernando Costa, Assistant City
Manager of the Cify of Fort Worth, known to me to be the same person whose name is
subscribed to fhe foregoing instrumeni, and acknowledged to me that the sarne 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
, Za_
Notary Public in and forthe State of Texas
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE - FINAL 1.29J3
EXIIIIBIT "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 Cify of Fort Worth Transportation & Public Works Engineering Vault,
and being a partion of tha# certain tract as canveyed to the City of Fort Worth by deed
recorded in Vofume 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 Worfh Transportaiion 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 Parfners 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, Siide 2043, Plat Records of
Tarrant Counfy, Texas, and having surface coordinates of N= 6975109.08, E_
2298233.87;
THENCE North 89 degrees 51 minutes 18 seconds East along the Lake Wo�th boundary
line, the common line between said City tracf and said Summit on the Lake addi#ion, 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 {ine of
Quebec St.(called 60.0' right-of-way per plat recorded in Volume 388-184, Page 95, Plai
Records of Tarrant County, Texas}, from said corner a brass disc found in conerete
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 - FINAL 1.29.13
to and 30 feet northwesterly of the northwesterly right-of-way iine of said Cahoba Drive,
through a central angie 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 norfhwesterly right-o#-way line of said Drive 430,41 feet to a 5/8"
iron rod set at the beginning �f 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 wiih said curve to fhe 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 wifh said curve to the left through a central angle of 57 degrees
16 minutes 50 seconds, an arc length of 559.85 feef 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 righf-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 fee# whose chord bears North
75 degrees 39 minutes 46 seconds UVest, 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 Wesf, 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 chard 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 Iine of said
Cahoba Drive;
THENCE North 00 degrees 01 minutes 05 seconds West with said apprQximate survey
line, 156,38 feet to a 5/8" iron rod reset with aluminum cap stamped "C,F'.W, SURVEY"
lying in ihe Lake Worth boundary line, being the northerly line of said City of Fort Warth
tract, the southerly line of said 114.692 acre tract, from which a brass disc in concrete
stamped °Lake Wor�h Boundary Monument" found (called Monument Na 11 per said
SALES CONTRACT FOR FINLEY CTTY PROPERTY SALE - FfNAL 1,29. l3
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 (contral monument);
THENCE North 00 degrees 01 minutes 05 seconds West with said Lake Wo�th boundary
line, the common line between said City of Fort Worth traci 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 �ake 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 af land as
surveyed on the ground in June 2012.
INCL.UDED 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 Vauit, and being a portion of that certain
tract of land as conveyed fo the Cify 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' (cal(ed 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 disfance of 111,51 feet;
THENCE North 47 degrees 14 minutes 34 seconds West departing said right-of-way
line, 31.22 feet ta 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 thraugh a cenfral angle of 02 degrees 08 minutes
12 seconds, an arc leng#h of 20.88 feet whose chord bears Norih 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 leff through a ceniral 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 - FINAL 1,29,13
BEGINNING, and containing 628 square feei 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 reai property
descriptions, and a Map of Survey being attached herewith.
SALES CONTRACT FOR FINL�Y CITY PROPERTY SAL� - FINAL 1.29.13
EXHIBIT °B"
A 35.0 foot wide reservation for sanitary sewer facilities situated in the A. Van Nordstrand
Survey, Abstract No. 1584, Tai7•ant County, Texas, and being a portion of that certain tract as
conveyed to the City of Fort Worth by deed recorded in VoIume 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 af
Fort Worth Engineering Vault number X-20220, said centerline being more particularly
described as follows;
BEGINNIlIG 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 Tan•ant
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 af Lake Worth
Boundary Monument (called monument No. 10) per Lake Worth Boundary Map bears: South 00
degrees dl minutes OS seconds East, 15.57 feet;
THENCE: with said centerline the following courses and distanaes:
South $9 degrees 58 minutes 24 seconds East, 5.37 feet to an existing sewar manhole;
North 70 degrees O1 minut$s 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 Iine of a 30.5 l2 acre tract surveyed this day for ihe City of Fort Worth from which a
5/S" iron rod set with a red plastic cap stamped "CITY OF FT. WORTH SURVEY DIVISION"
at the end of a curve being parailel 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 SS 16) 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. Nefwork System, N,A,D, 83, North Central
Texas Zone. Distances are ground measurements,
SALES CONTRACT FOR FINLEY C1TY PROPERTY SALE - FINAL 1.29.13
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 11/12/2012
DATE: Monday, November 12, 2012
LOG NAME: 065010 NASJRB ESMT
REFERENCE NO.: **L-15466
SUBJECT:
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)
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.
Logname: 065010 NASJRB ESMT Page 1 of 3
Although the United States Department of Defense offers a possible funding source, the grant process is
time-cQnsuming 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 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.
FUND CENTERS:
TO Fund/Account/Centers
FE70 442082 030001
CERTIFICATIONS:
Logname: 065010 NASJRB ESMT
FROM Fund/Account/Centers
$302,360.00
Page 2 of 3
Submitted for City Manager's Office by:
Ori�ind,ting Department Head:
Additional Information Contact:
ATTACHMENTS
NASJRB MC loc map.�df (Public)
Fernando Costa (6122)
Randle Harwood (6101)
Jocelyn Murphy (6226)
Logname: 065010 NASJRB ESMT Page 3 of 3