HomeMy WebLinkAboutContract 44250 (2);� n
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LAND LEASE WITH OPTION TO PURCHASE AGREEMENT
THE STATE OF TEXAS
COUNTY OF TARRANT
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KNOW ALL MEN BY THESE PRESENTS:
The City of Fort Worth ("Lessor"), a home-rule municipal corporation, acting herein by and
through Fernando Costa, its duly authorized City Manager, and James D. Finley, Lessee,
hereby make and enter into the following lease with option to purchase agreement.
I. LEASED PREMISES
A. For and in consideration of the full and timely performance by Lessee of all of Lessee's
duties and obligations in strict compliance with the covenants, conditions and agreements
herein contained, Lessor hereby demises and leased to Lessee, and Lessee hereby
accepts from the Lessor, the following described real property for the term and uses and
subject to the conditions set forth herein:
A 30.512 acre parcel of land out of the A. Van Nordstrand Survev. Abstract No
1583, and the J Foote Survev, Abstract No. 534, situated in Tarrant Countv, Texas,
and beinq a portion of Blocks 1 and 2, Lake Worth Leases, accordinq to
unrecorded plat File No. J-175 on file at the Citv of Fort Worth, Transportation &
Public Works Enqineerinq Vault, and beinq a portion of that certain tract as
conveved to the Citv of Fort Worth bv deed recorded in Volume 350, Paqe 461,
Deed Records of Tarrant Countv, Texas ("Leased Premises"), and beinq more
particularlv described on Exhibit "A" attached hereto.
B. Lessee covenants and agrees to accept the Leased Premises in their present condition,
finds them suitable and in good condition for the purposes intended; and further agrees
that it is thoroughly familiar with such condition by reason of a personal inspection and
does not rely on-any representations by Lessor as to the condition of the premises or
their suitability for the purposes intended.
II. TERM
The term of the lease shall be thirteen (13) months commencing February 1, 2013 and
ending February 28, 2014. The Lessor may offer one (1) year extensions to the term of the
lease on the anniversary of the lease. The Lessee may refuse such extension by giving
notice to the Lessor, in writing, within sixty (60) days after receipt of notice of any extension.
III. LESSEE'S RIGHTS AND OBLIGATIONS
Lessee shall:
A. Clean, maintain and fence the Leased Premises, as primary consideration for this Lease.
B. Be able to use the Leased Premises, in compliance with applicable zoning ordinances.
C. Use and occupy the Leased Premises in compliance with the laws of the United States of
America, the statutes of the State of Texas, and the Charter and Ordinances of the City
of Fort Worth, whether now in effect or hereinafter adopted so long as any hereinafter
adopted ordinance or charter provision is not adopted solely for the purpose of limiting
the rights of Lessee and similarly situated Lessees.
D. Be able to make provision for utilities to the Leased Premises, at Lessee's sole cost and
expense.
E. Be deemed to be an independent tenant in possession
of the Leased Premises
responsible to all parties for his acts and omissions with reg
shall in no way be responsible for any act or omission of the L
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F. Provide and maintain suitable methods and means for the disposal of trash, body waste
and excreta, in compliance with applicable sanitation laws and ordinances.
G. Not drill or dig any well on the Leased Premises without the prior written approval of the
Lessor nor use the water from such well until it has been tested and approved by the
appropriate authorities.
H. Not commit, or allow to be committed any waste on the Leased Premises, nor create or
allow any nuisance to exist on the Leased Premises.
I. Use best management practices for improvement of water quality.
J. Use the Leased Premises for agricultural uses only.
K. Not construct new structures and enlarge existing structures on the Leased Premises
unless approved by the Director of the Water Department for the City of Fort Worth.
L. Make alterations, remodel, and make improvements to existing structures and the
Leased Premises, provided that such actions shall be in accordance with applicable City
Codes and Ordinances.
M. Terminate this lease without reimbursement for Lessee's structures and improvements at
any time by giving Lessor 30 days' notice of intention to terminate.
N. Exercise the option to purchase at any time prior to December 31, 2013.
IV. LESSOR'S RIGHTS AND OBLIGATIONS
Lessor shall:
A. approve the sale, or assignment (hereinafter collectively assignment) of this lease or
remaining term, provided that:
1. all amounts owed to �essor hereunder and City ad valorem taxes are paid current to the
date of such assignment;
2. the assignment is evidenced in writing;
3. in said assignment the assignee expressly accepts, assumes, and agrees to perform all
terms, conditions and limitations to be kept and performed by Lessee under this lease;
4. said writing is executed and acknowledged in recordable form; and
5. said assignment is submitted to Lessor at the City Manager's Office or such other office
designated by the City Manager, and within 10 days of receipt of the assignment Lessor
shall determine whether the assignment is in compliance with provisions A-1 through A-5
above and notify both parties to said assignment if the assignment does not comply with
those provisions. Lessor shall acknowledge compliance with the above provisions on the
face of said assignment, and assignment shall then be recorded in the office of the
County Clerk of Tarrant County, Texas, at Lessee's expense. Compliance with the
provisions set out above shall relieve the Lessee from further liability under this lease.
B. not convey, sell or transfer its interest in the Leased Premises without allowing the
Lessee the opportunity to acquire the Leased Premises, unless the conveyance, sale, or
transfer is to a governmental entity with the power to condemn the property for the
purpose it is acquired.
C. have the right to enter upon the Leased Premises at reasonable times and under
reasonable circumstances for the purposes of examining inspecting the Leased Premises
to determine whether Lessee has complied with his obligations hereunder. This provision
shall not be construed to authorize entry into residences or other buildings on the Leased
Premises except where such entry is specifically authorized by the provisions of this
lease, the statutes of the State of Texas, or the ordinances of the City of Fort Worth.
D. warrant that Lessee will have quiet enjoyment and peaceful possession of the Leased
Premises, and that Lessor will defend the Lessee in such quiet enjoyment and peaceful
possession during the term of this lease.
V. INDEMNITY AND INSURANCE; INDEPENDENT CONTRACTOR
A. LESSEE COVENANTS AND AGREES TO INDEMNIFY, HOLD HARMLESS AND
DEFEND THE LESSOR, ITS OFFICERS, AGENTS, SERVANTS AND EMPLOYEES
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FROM AND AGAINST ANY AND ALL CLAIMS OR SUITS FOR PROPERTY DAMAGE
OR LOSS AND/OR PERSONAL INJURY, INCLUDING DEATH, OF WHATSOEVER
KIND OR CHARACTER; ARISING OUT OF OR ALLEGED TO ARISE OUT OF OR IN
CONNECTION WITH, DIRECTLY OR INDIRECTLY, THE LEASING, OCCUPANCY,
USE, CONDITION AND/OR MAINTENANCE OF THE LEASED PREMISES AND ANY
AND ALL ACTIVITIES CONDUCTED THEREON, OR IN CONNECTION WITH THE
ACTS OR OMISSIONS OF LESSEE, ITS OFFICERS, AGENTS, EMPLOYEES,
CONTRACTORS, SUBCONTRACTORS, SUBLESSEES, PATRONS, GUESTS,
LICENSEES, INVITEES OR TRESPASSERS OR IN CONNECTION WITH THE SALE
AND/OR CONSUMPTION OF ANY FOOD, BEVERAGE, OR OTHER ITEM
HEREUNDER; AND SHALL INDEMNIFY AND HOLD HARMLESS LESSOR FROM
AND AGAINST ANY AND ALL INJURY OR DAMAGE TO SAID LEASED PREMISES
OR ANY OTHER PROPERTY OF LESSOR, ARISING OUT OF OR IN CONNECTION
WITH, DIRECTLY OR INDIRECTLY, THE LEASING, OCCUPANCY, USE, CONDITION
AND/OR MAINTENANCE OF THE LEASED PREMISES.
B. Hazardous Use. Lessee will not permit the Leased Premises to be used for any purpose
which would render the insurance thereon void or the insurance risk more hazardous and
will use its best efforts to use the Leased Premises and to store its property in such a
manner as to minimize risk of loss by casualty, it being acknowledged that the use of the
Leased Premises in the proper and ordinary conduct of Lessee's business for the
purposes set forth herein shall not be considered in violation of this Section.
VI. EXPIRATION OF LEASE
Upon expiration of the term of this lease, all buildings, fixtures, structures and improvements
situated on the Leased Premises shall be and remain the property of Lessee, and Lessor
shall have no interest therein other than the lien herein for the security and protection of
Lessor in accordance with the terms and provisions of this Lease, except that Lessee will
have no right to remove, and will have no rights in structures and improvements for which he
receives reimbursement from Lessor pursuant to the terms of this lease: If the Lessee fails to
remove said buildings, fixtures, structures and improvements within ninety (90) days from the
termination of this Lease, the same shall become and remain the property of Lessor. Lessee
shall not remove any buildings, fixtures, structures or improvements in accordance with this
section of the Lease unless and until Lessee has made payment to Lessor of all amounts
owed to it under the terms of this Lease. Nothing in this section of this Lease shall give
Lessee the right to remove any fixture or integral part from any structure for which Lessee
receives or received reimbursement from Lessor pursuant to this Lease, if such fixture or
part was considered in determining the amount of reimbursement to be made.
VII. TERMINATION OF LEASE
A. If Lessee is in arrears in the payment of the rents, or other amounts agreed to be paid
under the terms of this lease or has failed to perform any obligation under this lease,
then Lessor may give notice to the Lessee of termination of the lease by default, said
notice to specify in detail the defaults upon which the termination would be based. In
said notice Lessor shall demand that actions be taken within 45 days to cure the default
or defaults upon which the termination is based or the lease shall be terminated.
B. In the event of a default by Lessee, and said Lessee does not take action to cure the
default within 45 days of the notice from Lessor, the lease may be terminated and
Lessor shall have no duty to reimburse the Lessee for structures or improvements to the
Leased Premises. The Lessee shall have the right to remove said structures,
improvements and personal property within 90 days from the date of lease termination
by default, and shall vacate the Leased Premises at the end of said 90 days. All such
property not removed within 90 days shall become the property of Lessor.
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C. In the event rentals to be paid under the terms of this lease is not paid when due, an
additional late penalty of 1.5% per month shall be added to the amount due.
D. Upon termination of this lease or expiration of the term of this lease, Lessee shall be
entitled and authorized to remove from the Leased Premises all items of personal
property belonging to �essee not permanently affixed to the realty and all structures and
improvements for which no reimbursement is made under the terms of this lease.
VII1. MORTGAGES
A. So long as no default exists under the terms of this lease, the Lessee may mortgage his
leasehold estate and improvements situated thereon to secure a loan or loans of money
actually made, or that will be made, or any extension or renewal of the same.
B. Such mortgage or deed of trust shall be in every respect subject, subservient and
subordinate to all the conditions and covenants of this lease.
C. In the event of a default that could result in the termination of this lease without
reimbursement to Lessee for the improvements and structures on the Leased Premises,
Lessor shall give notice to the mortgage as is required to be given to the Lessee, and
said mortgage shall have the right to cure said default and/or perform the terms and
conditions of this lease.
D. And mortgage or trustee under a deed of trust shall have the same right and power to
assign this lease, in conjunction with a trustee's sale or transfer to satisfy Lessee's
obligation to a mortgage, as does the Lessee under the terms and conditions of this
lease.
E. At any time Lessor is to pay the Lessee for structures or improvements on the Leased
Premises, the City shall give notice to each mortgage of that payment, and said mortgage
shall have the right to receive payment for any outstanding obligation secured on any
mortgage or deed of trust on the leasehold and improvements.
F. Lessor shall be required to give such notice only if the mortgage has, in writing, informed
the City of its interest and has supplied an address for said notice.
G. Except for the mortgage allowed in this Section X, Lessee shall have no power to create
any liens against the Leased Premises and shall indemnify Lessor against any and all
liens imposed or attempted to be imposed against the Leased Premises as a result
of Lessee's actions. If any lien is created or filed against the Leased Premises, Lessee,
at Lessee's sole cost and expense, shall have the lien discharged within 10 days after the
filing thereof, and Lessee's failure to discharge the lien shall constitute a breach of the
Lease.
IX. OWNERSHIP OF IMPROVEMENTS
All structures and improvements situated on the Leased Premises when this lease is
entered into are, and shall continue to be, the property of the Lessee, and all improvements
hereinafter made by the Lessee on the Leased Premises shall be the property of the Lessee
X. SUCCESSORS IN INTEREST
A. In the event of the death of a Lessee, his successors and estate shall succeed to his
interest under this lease, and those entitled by law to succeed to the Lessee's interest in
the lease shall continue to enjoy the rights and benefits hereunder of the deceased
Lessee.
B. If Lessee or his assignee is adjudicated a bankrupt, said lease may be assigned as
provided above, and any assignee shall assume the duties and liabilities as set out a
above.
XI. VENUE
Venue of any action brought hereunder shall lie exclusively in Tarrant County, Texas.
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XII. NOTICE
Any notice, demand, request, or other communication hereunder given or made by either party
to the other shall be in writing and shall be deemed to be duly given if hand-delivered or if
mailed by registered or certified mail in a postpaid envelope addressed as follows:
(a) If to Lessee: James D. Finley
1308 Lake Street, Suite 200
Fort Worth, Texas 76102
(b) If to �essor: City Manager
City of Fort Worth
1000 Throckmorton Street
Fort Worth, Texas 76102
With a copy to: City Attorney
City of Fort Worth
1000 Throckmorton Street
Fort Worth, Texas 76102
or at such other addresses as Lessee or Lessor, respectively, may designate in writing by notice
pursuant to this Section XII.
XIII. MISCELLANEOUS
A. The failure of either party to insist on strict pertormance of any term; covenant, or
condition hereof, or to exercise any option herein contained, shall not be construed as a
waiver of such term, covenant, condition, or option in any other instance.
B. This Lease cannot be changed or terminated orally, but only by an instrument in writing
signed by both parties.
C. The captions in this Lease are included for convenience only and shall not be taken into
consideration in any construction or interpretation of this Lease or any of its provisions.
D. If any provision of this Lease, or the application thereof to any person or circumstances,
shall to any extent be held invalid or unenforceable, the remainder of this Lease, or the
application of such affected provision to persons or circumstances other than those to
which it is held invalid or unenforceable, shall not be affected thereby, and each provision
of this Lease shall be valid and shall be enforced to the fullest extent permitted by law. It
is further the intention of Lessor and Lessee that if any provision of this Lease is capable
of two constructions, one of which would render the provision void and other of which
would render the provision valid, then the provision shall have the meaning which renders
it valid.
XIV. CONCLUSION
This instrument represents the entire agreement between the parties concerning the leasing
of the Leased Premises and shall be binding upon and shall be to the benefit of the parties
hereto, their successors, assigns, and legal representatives, and all prior leased, assignments,
or agreements of any nature concerning the Leased Premises or property situated thereon are
superseded by the terms of this lease.
[SIGNATURES APPEAR ON FOLLOWING PAGE.]
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EXECUTED at Fort Worth,
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LESSOR:
CITY OF FOR� WORTH
Flernando Cf6stv
Assistant City Manager
Tarrant County, Texas, this / day of
APPROVED AS TO FORM AND LEGALITY
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Assistant City Attorney
LESSEE
Name: James D. Finley
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CITY SE�����►��
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ATTEST
STATE OF TEXAS § (�,YO�'d
COUNTY OF TARRANT § JJ' ��
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BEFORE ME, the undersigned uthority, a Notary Public in and for the State of Texas,
on this day personally appeared Fern�do Costa„ known to me to be the person whose name
is subscribed to the foregoing instrument, and acknowledged to me that he executed the same
as the act and deed of the City of Fort Worth, a municipal corporation of Tarrant County Texas,
and as Assistant City Manager, thereof and for the purposes and consideration therein
expressed and in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this �
�_ day of
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STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas,
on this day personally appeared James D. Finley, known to me to be the person whose name is
subscribed to the foregoing instrument, and acknowledged to me that he executed the same for
the purposes and consideration therein expressed.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this day of
. 2013.
Notary Pubic in and for the State of Texas
7
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EXECUTED at Fort Worth, Tarrant County, Texas, this day of
, 2013.
LESSOR:
CITY OF FORT WORTH
Fernando Costa
Assistant City Manager
ATTEST
City Secretary
APPROVED AS TO FORM AND LEGALITY
Assistant City Attorney
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C�
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas,
on this day personally appeared Fernando Costa„ known to me to be the person whose name
is subscribed to the foregoing instrument, and acknowledged to me that he executed the same
as the act and deed of the City of Fort Worth, a municipal corporation of Tarrant County Texas,
and as Assistant City Manager, thereof and for the purposes and consideration therein
expressed and in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this day of
. 2013.
STATE OF TEXAS
COUNTY OF TARRANT
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Notary Public for and in the State of Texas
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 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 I Z� day of
�Cf3(Z�JA(Z�L , 2013.
�
ALLISON P JONES
My Commission Expires
March 9, 2016
Notary Pubic in and for
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EXHIBIT "A"
LEASED PREMISES
A 30.512 acre parcel of land out of the A. Van Nordstrand Survey, Abstract No. 1584, and the J.
Foote Survey, Abstract No. 534, situated in Tarrant County, Texas, and being a portion of Blocks
1 and 2, Lake Worth Leases, according to unrecorded plat File No. J-175 on file at the City of
Fort Worth Transportation & Public Works Engineering Vault, and being a portion of that
certain tract as conveyed to the City of Fort Worth by deed recorded in Volume 350, Page 461,
Deed Records of Tarrant County, Texas, and being more particularly described by metes and
bounds as follows;
BASIS OF BEARINGS is the Fort Worth Integrated G.P.S. Networlc System, N.A.D. 83, North
Central Texas Zone, distances shown hereon are ground measurements.
BEGINNING at a 5/8" irori 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 Worlcs File No. F-83) lying in the easterly
line of that certain tract of land described as 114.692 acres in the deed to Quebec 820 Partners
L.P. recorded under Instrument Number D205041458, Deed Records of Tarrant County, Texas,
being the southwest corner of Summit On The Lake, Phase 2, according to plat recorded in
Cabinet A, Slide 2043, Plat Records of Tarrant County, Texas, and having surface coordinates of
N= 6975109.08, E= 2298233.87;
THENCE North 89 degrees 51 minutes 18 seconds East along the Lalce Worth boundary line, the
common line between said City tract and said Summit on the Lalce addition, at 803.86 feet
passing a 5/8" iron rod set with a red plastic cap stamped "CITY OF FT. WORTH SURVEY
DIVISION" for reference, (all 5/8" iron rods set so capped unless otherwise noted hereon),
continuing in all 834.29 feet to a 5/8" iron rod found with aluminum cap stamped "C.F.W.
SURVEY" lying in the curved west right-of-way line of Quebec St.(called 60.0' right-of-way per
plat recorded in Volume 388-184, Page 95, Plat Records of Tarrant County, Texas), from said
corner a brass disc found in concrete stamped "Lake Worth Boundary Monument" (called
monument No. 7 per said File No. F-83) bears North 89 degrees 51 minutes 18 seconds East,
2,079.70 feet;
THENCE southeasterly with said curve to the left having a radius of 1,113.10 feet through a
central angle of 07 degrees 10 minutes 48 seconds, an arc length of 139.48 feet whose chord
bears South 13 degrees 32 minutes 25 seconds East, a distance of 139.40 feet to a 5/8" iron rod
found with aluminum cap stamped "C.F.W. SURVEY" at the end of said curve;
THENCE South 17 degrees 07 minutes 40 seconds East along the westerly line of said Street,
123.03 feet to a 5/8" iron rod set with aluminum cap stamped "C.F.W. SURVEY", said corner
bears North 17 degrees 07 minutes 40 seconds West 10.16 feet from a 5/8" iron rod reset with
aluminum cap stamped "CITY OF FT. WORTH SURVEY" at the intersection of the westerly
line of said Quebec Street with the northwesterly right-of-way line of Cahoba Drive (called 60.0'
right-of-way per plat recorded under Cabinet A, Slide 5516, Plat Records of Tarrant County,
Texas);
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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 30.42 feet passing a 5/8"
iron rod set, continuing in all an arc length of 126.81 feet whose chord bears South 51 degrees 49
minutes 02 seconds West, 125.28 feet to a 5/8" iron rod set at the end of said curve;
THENCE South 37 degrees 34 minutes 14 seconds West, parallel to and 30 feet northwesterly of
the northwesterly right-of-way line of said Drive 430.41 feet to a 5/8" iron rod set at the
beginning of a curve having a radius of 284.0 feet;
THENCE southwesterly with said curve to the left through a central angle of 39 degrees 43
minutes 40 seconds, an arc length of 196.92 feet whose chord bears South 17 degrees 42 minutes
24 seconds West, a distance of 193.0 feet to a 5/8" iron rod set at tl�e point of a reverse curve
having a radius of 173.97 feet;
THENCE southwesterly with said curve to the right through a central angle of 106 degrees 40
minutes 27 seconds, an arc length of 323.90 feet whose chord bears South 51 degrees 10 minutes
49 seconds West, a distance of 279.10 feet to a 5/8" iron rod set at the point of a reverse curve
having a radius of 560.0 feet;
THENCE southwesterly with said curve to the left through a central angle of 57 degrees 16
minutes 50 seconds, an arc length of 559.85 feet whose chord bears South 75 degrees 52 minutes
41 seconds West, a distance of 536.82 feet to a S/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 58930 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 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;
THENCE North 27 degrees 24 minutes 13 seconds West, 61.26 feet, to a 5/8" iron rod set at the
beginning of a curve having a radius of 255.0 feet;
THENCE northwesterly with said curve to the left through a central angle of 32 degrees 34
minutes 40 seconds, an arc length of 144.99 feet whose chord bears North 43 degrees 41 minutes
33 seconds West, a distance of 143.04 feet to a 5/8" iron rod set lying in the approximate west
line of said A. Van Nordstrand Survey and the approximate east line of the Nancy Johnson
Survey, Abstract No. 887, said corner bears North 00 degrees 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 of said Cahoba Drive;
THENCE North 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;
E
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 Lalce 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 of Lake Worth Boundary Monument No.
9;
THENCE North 44 degrees 44 minutes 14 seconds East with said Lake Worth boundary line, the
common line between said City of Fort Worth tract and said 114.692 acre tract, 798.58 feet to the
PLACE OF BEGINNING, and containing 30.512 acres of land as surveyed on the ground in
June 2012.
INCLUDED HEREWITH is a 20 foot wide ingress and egress easement, being a 628 square foot
parcel of land out of the A. Van Nordstrand Survey, Abstract No. 1584, situated in Tarrant
County, Texas, and being a portion of Blocks 1& 2, Lake Worth Leases, according to
unrecorded plat File No. J-175 on file at the City of Fort Worth Transportation & Public Works
Engineering Vault, and being a portion of that certain tract of land as conveyed to the City of
Fort Worth by deed recorded in Volume 350, Page 461, Deed Records of Tarrant County, Texas,
and being more particularly described by metes and bounds as follows;
BEGINNING in the northerly curved right-of-way line of Cahoba Drive, having a radius of 530'
(called 60.0' right-of-way per plat Cabinet A, Slide 5516, Plat Records of Tarrant County,
Texas) from which a 5/8" iron rod found with aluminum cap stamped "C.F.W. SURVEY" in
said right-of-way line bears South 53 degrees 16 minutes 35 seconds West, a chord distance of
111.51 feet;
THENCE North 47 degrees 14 minutes 34 seconds West departing said right-of-way line, 31.22
feet to the northwest corner of herein described parcel lying in a curve having a radius of 560.0
feet;
THENCE with said curve to the right through a central angle of 02 degrees 08 minutes 12
seconds, an arc length of 20.88 feet whose chord bears North 59 degrees 28 minutes 23 seconds
East, a distance of 20.88 feet to the northeast corner of herein described parcel;
THENCE South 47 degrees 14 minutes 34 seconds East, 31.60 feet to the southeast corner of
herein described parcel lying in the northerly right-of-way line of said Cahoba Drive on a curve
having a radius of 530.0 feet from which a 5/8" iron rod found at the end of said curve bears
North 83 degrees 03 minutes 06 seconds East, a chord distance of 387.92 feet;
THENCE southwesterly with said curve to the left through a central angle of 02 degrees 16
minutes 11 seconds, an arc length of 20.99 feet whose chord bears South 60 degrees 27 minutes
00 seconds West, a distance of 20.99 feet to the PLACE OF BEGINNING, and containing 628
square feet of land as surveyed on the ground in June of 2012.
10
Basis of Bearings: the Fort Worth Integrated G.P.S. Networlc System, N.A.D. 83, North Central
Texas Zone. Distances are ground measurements.
In accordance with the Texas Board of Professional Land Surveying, General Rules of
Procedures and Practices, 663.19(9), This "report" consists of the hereon real property
descriptions, and a Map of Survey being attached herewith.
11
M&C Review
Page 1 of 2
Official site of the City of t�ork 4Vorth, Texas
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COUNCIL ACTION: Approved on 11/12/2012
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DATE:
CODE:
11 /12/2012
L
REFERENCE NO.: **L-15466
TYPE:
CONSENT
LOG NAME:
PUBLIC
HEARING:
065010 NASJRB
ESMT
m
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.
Although the United States Department of Defense offers a possible funding source, the grant
process is time-consuming and receipt is not guaranteed. Staff thus considered other options for
compensation for this Restrictive Easement.
LEASE WITH OPTION TO PURCHASE
Mr. Finley expressed interest in acquiring approximately 30.512 acres of City-owned land adjacent to
http://apps.cfwnet.org/council�acket/mc review.asp?ID=17542&councildate=ll/12/2012 3/8/2013
M&C Review
his �xisting property (City Property). Staff agreed to lease the City Property to Mr. Finley on the
following terms:
Term of 13 months
Page 2 of 2
Consideration for the lease will consist of (i) performance by Mr. Finley of certain actions on the
property to prepare it for sale, such as fencing, clean up, and re-vegetation, (ii) required use of best
management practices for water quality runoff into Lake Worth; and (iii) rezoning of the former
TxDOT Property to "AG" Agricultural to ensure that uses allowed by zoning are consistent with the
Restrictive Easement
The City will also grant an Option to Purchase the City Property to Mr. Finley, pursuant to Texas
Local Government Code Section 272.001(h) to allow him to purchase the City Property for fair market
value. The fair market value of the City Property is valued as follows:
City Property (30.512 acres): $30,000.00/acre = $ 915,360.00
If Mr. Finley exercises the Option to Purchase, at the closing of the sale of the City Property, the City
will apply the fair market value for the Restrictive Easement ($613,000.00) to the purchase price of
the sale of the City Property ($915,360.00). The City would then receive funds in the amount of the
difference ($302,360.00) at the closing of the sale. As part of the Option to Purchase, Staff
recommends reserving from the City Property a 30-foot wide strip of land north of Cahoba Drive for
the future construction of a lake trail, and granting an access easement across the trail for Mr. Finley.
Funds received by the City for the value of the City Property in excess of the value of the Restrictive
Easement will be placed in the Lake Worth Management Fund with the intention of being used as
leverage for future funding opportunities. These may include Navy Readiness and Environmental
Protection Initiative (REPI) funds for future easements and land use controls, and various programs
for the acquisition of property for water quality buffer zones for Lake Worth.
On June 22, 2012, the commander of the NAS FW JRB provided support via email for this Restrictive
Easement and stated that this type of Restrictive Easement is compatible with the Air Installation
Compatible Use Zones (AICUZ) study and the base's long term mission compatibility goals.
The subject property is located in COUNCIL DISTRICT 7.
FISCAL INFORMATION/CERTIFICATION:
The Financial Management Services Director certifies that the Water Department is responsible for
the collection and deposit of funds due to the City.
TO Fund/Account/Centers
FE70 442082 030001 $302,360.00
Submitted for Citv Manaqer's Office bv:
Originatinq Department Head:
Additional Information Contact:
FROM Fund/Account/Centers
Fernando Costa (6122)
Randle Harwood (6101)
Jocelyn Murphy (6226)
ATTACHMENTS
NASJRB MC loc map.pdf
http://apps.cfwnet.org/council�acket/mc review.asp?ID=17542&councildate=ll/12/2012 3/8/2013