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Home My WebLink AboutContract 55873_ _ _.. � n CSC N o. 55873 LEASE AMENDMENT TO LAI� WORTH RESIDENTIAL LEASE AGREEMENT This LEASE AMENDMENT TO LAKE WORTH RESIDENTIAL LEASE AGREEMENT ("AmendmenY') is entered into by and between Jack P. Riley and Lois M. Rile�("Tenant") and City of Fort Worth, a Texas home rule municipal corporation ("Landlord"}. WHEREAS, Landlord entered into a ground lease ("Lease") on February 1, 1982 with the original lessee under the Lease Ageement for property located at 8833 Heron Drive, with a legal description more particularly described as Lot 24, Block 28, Lake Worth Leases Addition, Fort Worth, Tarrant Countv, TX (the "Leased Premises"), said Lease attached hereto as Eachibit "A"; WHEREAS, through assignment(s), the Lease is now between Landlord and Tenant for the Leased Premises, and such Lease has a fifly year term ending on January 31, 2032; WHEREAS, pursuant to Section 272.001(h) of the Local Government Code, Landlord is authorized to sell the properry to the person leasing the land for the fair market value of the land as determined by a certified appraiser; WHEREAS, Landlord and Tenant desire to effect a sale of the Leased Premises from Landlord to Tenant under Section 272.001(h) of the Local Government Code for the fair market value of the land, and, contemporaneously with this Amendment, is entering into a Purchase and Sale Agreement for the purchase of the Leased Premises by Tenant within eighteen (18) months of the execution of the Purchase and Sale Agreement; and WHEREAS, the existing Lease does not provide for terms of dispasition of the Leased Premises in the event of a sale or for the terms of the termination of the Lease in #he event of a failure to purchase the Leased Premises under the Purchase and Sale Agreement, and the parties desire to amend the Lease to provide for such terms. NOW THEREFORE, in cobsideration of the mutual agreements herein and other good and valuable consideration, the parties agree as follows: �FFICIAL RECORD CITY SECRETARY FT. VIlORTH, TX 1. Term. The term of the Lease is hereby amended to end upon the closing of the sale of the Leased Premises under the Purchase and Sale Agreement, which shall occur within eighteen (18} months after the Amendment Effective Date ("Closing Deadline"). If the closing of the sale of the Leased Premises has not occurred by the Closing Deadline, this Lease shall expire on the Closing Deadline. 2. Exuiratiot► of Lease. Section VII EXPIR.ATION OF LEASE is hereby deleted in its entirety and replaced with the following: "VII. EXPIRATION OF LEASE A. Any buildings, improvements, additions, alterations, and fixtures (except furniture and trade fixtures) constructed, placed, or maintained an any part of the Leased Premises during the lease term are considered part af the real property of the Landlord and must remain on the Leased Premises and become Landlord's property when the Lease ternunates. B. Before the Lease terminates, Tenant shall remove all personal property, furniture, machinery, or equipment in, under, or on the Leased Premises. Before the Lease terminates, Tenant must repair any damage to any buildings or improvements on #he Leased Premises resulting from the removal. Any such items not removed by the lease termination date will become Landlord's property on that date." 3. Ownership of Imurovements. Section X OWNERSHIP OF IMPROVEMENTS is hereby amended by adding the following sentence at the end of the Section: "Upon expiration of this Lease through the closing of the sale of the Leased Premises under the Purchase and Sale Agreement, Tenant shall retain all right, title, and interest in the improvements on fihe Leased Premises; however, upon the expiration of this Lease without a closing of the sale of the Leased Premises under the Purchase and Sale Agreement, all right, title, and interest in the improvements on the Leased Premises shall vest in Landlord without further payment by Landlord to Tenant for the improvements, and Tenant shall not have any right to enter upon the Leased Premises." 4. Continued Terms and Provisions. All of the terms and provisions of the Lease between the parties shall remain in full force and effect except as specifically amended herein. Executed to be effective as of the date this Amendment is notarized by the City ("Amendment Effective Date"). LarmLoxD: CITY OF FORT WORTH� TEXAS� a Texas municipal corporation D�lvrq Burgh�laff B�� Dana Burghdoff �un 15, 202112A6 CDT) Dana Burghdoff, Assistant City Manager APPROVED AS TO FORM AND LEGALITY: .�it�� .,�� Assistant City Attorney M&C: L-15964 1295: N/A AT'TEST: �� City Secretary City of Fart Worth Contract Compliance Manager: By signing I acknowledge that I am the person responsible for the monitoring and administration of this contract, including ensuring all performance and reporting requirements. �� Name of Employee: Nita Shinskv Title: �.and A�ent TENANT: JACK P. AND LOIS M. RII.EY , n� � � Printed Name: Jack P. Riley �a� s �► � � � �� y Printed Name: Lois M. Riley �FFICIAL RECORD CITY SECRETARY FT. VIlORTH, TX STATE OF TEXAS COUNTY OF TARRANT This instrument was acknowledged before me on the lstn day of J u ne , 2021, by Dana Bur doff, Assistant City Manager of the City of Fort Worth, a Texas municipal corporation, on behalf of that entity. o,�Q,RY�'(�e/ SELENA ALA 2 n � Notary Public * �C7 * STATE OF TEXAS `J'� �� Notary I.D. 132422528 9�E��j``+ My Comm. Exp. Mar. 31, 2024 STATE OF TEXAS COUNTY OF TARR.ANT . Scicna AI�15,� :OS CDTj NOtc11'j� PU�IIC This instrument was acknowledged before me on the �day of �, 2021, by Jack P. Ri1ev, on behalf of that enhty. p/�CQUIRI M. DEAVERS ��Noleuy PuWlo.9�ts dTa�m Notsry ID #12982547-9 � Comnrf�loo Em. NOV. 21� 2�1 STATE OF TEXAS COUNTY OF TARRANT s. �.r_ �. �'i . .� / � ' ri�i This instrument was acknowledged before me on the �'3day of , 2021, by Lois M. Rilev, on behalf of that entity. DACAVIRI M. D��FtS ��,,� N�y P�,g�Us of Ti�� +�� ?� � �1 J_ _ J _ _ �/ �_ `_ 1' � , �. �FFICIAL RECORD CITY SECRETARY FT. VIlORTH, TX _. �itW �B�T p LEASE AGREEMENT THE S7ATE OF TESA$ � iNOR' ALL lYIEIV BY TSFSE PRESENTS: CObsNTY OF TARRANT � The City of Fort Worth� I,eawr. e homo-ruIe muaidpal carporatioa aituatcd in Tarrant County, Texas, (hareiaafcer sometimes refcrral to as "Ciry") acting hrre� by and t}uough � -- its duly authosized L`ity Menagu, and T• - �- �R�17,.*g ' ,I,.essa, haeby make and arur into the following lease agrce- ment. AORATSY i. �'ii)IfltINE For and im consideration of fhe pcompt paymcnt by I.asa. w�hea due, of sii rents as hexeia provided, and further for and Sa consideration of the fnll and timdy perfo�+A�M by Lessee of all of Lessee's dutia and obligations in strict compliaace with the coveaanu, candifioos aad agrxme�s herdn contaiacd, City hereby dpmisa and 1ea�es to Lessce, and I�essx hereby acapu from G�ty, the following described real property for the term aud uses and subject to the conditions set forth haein: �f3T 24, BLOCIC 28, LAP.� WOR�F T.FASB SiiRVfiY 8833 Hernn Dri.ve . n. r�x� T2st ttrnt of the lease shall be 5� years commencing Fa'a�saz�—�T&�L e and ending January 3I, 2tt3?_ _ The �ty may offer five (S) year ezteaSions to the texm of the leass on each fifth annivasary ef the lease. The I.essee may refuse such extmsiop by giving notice to t�e G1'ty, in rovritimg, within sizty (bU) days afta reaipt of notice of any exttasion. III. LFS5EE'S RIGH1'S AND OBLIGATIONS Lessee shall: A. pay annual rent to the City of Fort Worth in the sum of S 3�� nrt , said rrnt payable in 12 equal installments, oae such instaUment due oa the first of each month. B. pay the rent due under this ]ease to tbe Assessor-Collector of Taxa for the A'ty of Fort Worth, or other office daignated by tiie City. C. pay reat for each year after the fust year in an amount that shall be adjasted by eighty percent (80%) of the change in the annual average of the CoAsvmer Price Index U.S. City Average, "all items" index, all urban consumers (CPF-L� from the annual avetage for thc previous calrndar year, as published by The Bureau of I.abor Statistics for the United Siates Deparunent of Labor, said adjustment to be comnuud by dividiag the CPI-U for the most rxent year by the CPI-U for the immadiately preading year, subtracting one (1) from that quotient, multiplying that result by eight tenths (0.8), addiag one (1) to that product, and multiplying thai sum by tha rent for the previous year. D. be able to use the leased land for saidential and water recreationai purposes, in compliance wit6 applicable zoning ordiaanas. E. use and occupy the leased land, m compliana with the laws of the Uaited Stata of America, the statutes of the Siate of Tacas, and the Charter and Ordinances of the Qty of Fort Wor#h, whether now in effect or hereinafcer adogtcd so long as aay haeinafter adopted ordinance or cbarter provision is noi adopted sol�ly for the purpose of limitiag the rig,hts of Lasee as�d sim7uly situated I.essas. F. accept the prcmisa in their present conditioa as being suitabie for a!I ptuposa of this 1eas�. G. be deemed to ba an independeat teaant in possession of ths premisa aad rrsponsible to all parties for his acts and omissions with ngard thcreto, and the C�ty shall ia na way bc respansible for any act or omission of the x..�ssee. Fi. indemnify, hold harmless and defead the CYty, iis officxrs, agents, and empioyea, from and against any aad all claims for damaga or injury, including death, to persons or property arising aut of or inadrnt to the Ieasirig or the use and occupancy of the leased land by Lasce, his gaests or invitas. i. indcmnify, hold harmless aad defend City from and against any and sII mechanic's and materialmea's liens or any oiher Sm, claim or charge impossd upon th� leas�d land or rising as a sesvIt of any conduct or activity by the Lasx or anyone on his bchalf. .� 3. DSOV1dC 811d mamtain SUItBbIG ?+�_�►+s�� sa3 ��s �: ��e-�:.,�,3r,a1 �: �sy, �3� asst�, and ezcre'�.a, in wm- p&aarx �with applicable sanitation laws and ord'enanxs. • � K. aot driD or dig any well an the leased laad wi47�out the prior written approval of the Qty nor use the water from such well until it has.beea tateri aad avproved by th_ spgronriate �thor:�es. L. noi commit. or ellow to ba conmitted, any wasie on tiie premiscs, aor create or allaw any nuirdnna to rxist on the premises. , M. aot keep or petmit any aaimals on ffie leased premises othv tLan domesticated dogs aad cats. 1V. LESSOR'S RIGH'i'S AND OBLIGATIONS Ths GSty of Fort Worth shall: A. anurove the sale�or assignment (herdaaher collxtively assignment) of this lea,r or rem �n�++q term, pmvided that: � 1. aIl amonnu owed to thc City hereuader and GSty ad valorem taxa are paid �►rrrnt to the date of such assign- mcnt; aad I:27�3 i397 2. tht assignment is evidenced in writing; and • . 3. in said assigiment tho assignee expressly accepts, assnmes, and agrces to perform aIl terms, conditions and limitations to be kept and performed by I.essee under this lease; and 4. said writing is executed and acknowledged in recordable form; and 5. said assignment is submitted to the GYty at the G5ty Manage;'s office or such other of�ce designated by the G5ty Manager. Withia 10 days of raxipt of the assignmmt ihe GSty shall detemune whether the assignment is in compliance with provisions A-1 through A-5 above and notify both partia to said assigiment if the assignment does not comply with those provision�s. The City shall ac3mowledge compliana whh the above provisions on the face of said assignment, and assigiment shall thm be recorded in thc o�ce of the Couaty Clerk of Tazrant County, Texas, at Lessee's ex- ptnse. Compliance with the provisions set out above shall relieve the Lessee from fnrther liability under this lease. B. have the right to inspect the leased premises for compliance witb Cyty of Fort Worth Minimum Building Stan- dards Code,Qty Ord'mance No. 8006,at the time of aay sale or transfer. The CSty shall notify the purchaser or assignee in writing of aay vioiations of said ordiaance within 10 days of the submission of a proposed assignment to the City. Tht purchaser or assigaee shall r.ot be issued a certi�cate of oon:pancy by ti:e City ur.til the requirements of such or- diaance have been complied with. C. shall not convey, sell, or transfer its interest in the leased land without ailowing the Lessee the opportunity to ac- quire the Ieased land unless the conveyaztce, sale, or transfer is to a governmental entiry with the power ro condemn the property for the pwpose it is acquired. AJJ transfers shall be subject to tfie competitive bidding laws of the State of Texas and the ordinanas and charter of the City of Fort Worth. D. provide yeazly statements of the rent due hereunder and in such stattment specify the aumber of years remaining in the #trm of this lease. E. have the right to enter upon the above described property at reasonable times and under reasonable cir- c�msiances for the purposes of �cam9,,,,,g aad inspecting the leased land to determine whether Lessee has complied wiih his obligations hereunder. This provision shall not be construed to authoriu entry into residences or other buiidings on ihe leased land except where such entry is speci�caliy authorized by the provisions of this lease, the statutes of ihe State of Texas, or the ordinances of the GSty of Fort Worth. ' F. warrant that Lessce will have quiet enjoyment and peaceful possession of the leased land, and that the City will defend the Lessee in svch quiet enjoyment and peaceful possession during thc term of this lease. G. The City Manager shall review this lease prior to each fif[h anniversary and shall make recommendations to the City Council regarding extensions. V. LESSOR'S OPT70NS The City of Fort Worth may, in the event that Lessee shaIl give notice to the City that a financial hardship exists in the payment of reatals due hereunder, the City Manager may waive any portian of that year's rent after consideration of said hardstrip. Lusce.shall have the right to present his request to the City Councit of Fort Worth should the City Ivfanager deny the request. Any rents waived as a result of such hazdship and remaining unpaid shall wnstitute a lien against the Lessee's im- provements and such unpaid nnts shall bear interest at the current legal rate. Ltssee may: VT. LESSEE'S OPTIONS A. sell, assign, or sublet this lease or remaining tetm thereof. B. construct new structures and enlarge existing structures on the leased tand provided that such construction is in accardance with alI appIicable C7ty Codes and Ordinances. C, make alterations, remodel, and make improvements to e�dsting structures and the leased land, provided that such actions shall be in accordance with applicable GYty Codes and Ordinances. D. terminate this lease without reunbursement for Lessee's structUres and improvements at any time by giviug the City 30 days notice of intention to terminate. VII. EXPIRATION OF LEASE � A. U;.ca e:�pi;�io,-,cf E��ee ierm of ch:s :ease the C�.ry shz:l pay io �he Lessx a� amouat eqnai to ±he Lhen raxr!:et vatue of any structures or improvements heretofore made or erected on the leased premises, except that payments for any new structure and enlargements to existing sttuctures made or erected duriag the fina135 years of the lease term w�l be a pro rata amount based on the number of years the structure or imnxovements aYe ±� p�wCe or tht *�e::�7be* of years remaining on the lr�ase at the time said structure or improvemqnts were made, whichever is greater, times 2.86 percent, never to exceed 100%u of the mazket value of the ncw struccure and the tn]azgement to the existing suvcture. B. Replacement of aU ox part of structures desuoyed in whole or in part by fire, explosion or act of God are dcemed structures or improvtments heretofore made or erected on the leased premises. C. The GYty shall pay the Lessce the market value of the structures and improvements as defined above upon possasion of the property. Acxptance of the amount offered by the City does not forfeit Lessee's right to dispute the amot�nt paid, nor shall any acaptance constitute a waiver of any le�tal remaiv T.essee may have to deternune market value. In the event that a court of competeni jurisdictioa determinu that the amount paid to the Lessee by the G1ty is in excess oimazket value of such structures or improvements, the Lessee shall promptly refund such excess to the City. `� 12i�3 i��v -� -, _ VIII. TERDIINATION OF LEASE �. In the event the Lessee: 1. is ia arrears in ihe payment of ttie rents, or otha amounts a�ad to be paid under the terms of ttvs lease; or 2. has failed to perform any obligation undcr this lease, then the (�ty may give notice to We Lessce of termina- tion of the lease by default, said nodce ta specify in deta7 the defaulu upon which the termination would be based. In said notice the CSty shall demand that actions be talcen withia 45 days to cure the default or defaults upon which the termination is based or Lhe lease sball be terminated. B. In the event of a default by Lessee, and said Lessce does not take action to cure the default withia 45 days of the notice from the City, the Iease may be te[minated and the Clty shall have no duty to reimburse the.Lessee for struc- t�res or improvements to the leased land. The Lessce shall have the right W remove said structure, improvemenu, and personal property within 90 days from the date of lease termination by defaaIt, and shall vacate the leased land at the end of said 90 days. A11 such property not removed within 90 days shall become the property of the C1ty. C. In the event rentals to be paid under the terms of this lease is not paid when due, an additional lata penalty of I.S�ta per month shall bo�added.to the amount due. D. Upoa termination of this lease or expiration of the term of this Iease, I.essce shall be entitled and authorized to remove from ihe premises atl items of personal nroperty belonging to Lessee aot per:nznectly affu�d to the realty and siI structures and improvements for which �o reimbursement is made under the terms of this iease. IX. MORTGAGES A. 50 long as no default exisu under the terms of this lease, the Lessee or any Assignee may mortgage his leasehold estats and improvements situated thereon to secure a loan or loans of money actually made, or that will be made, or acy txtens9on or renewal of the sazne. � B. Such mortgage or deed of trusrsbalt be in every respect subject, subsctvient and subordinate to all tbe conditions and eovenants of this lease. C. Ia the event of a default that could rault in the termination of this lease without rcimbursement to Lessee for the improvements and structures on tYie leased land, the City shall give notice to the mortgagee as is required to be given to ihe Lasee, and said mortgagee shall have the right to cure said default andlor perform the terms and conditions of this fease. D. A mortgagee or trustee under a deed of trust shal] have the same right and power to assign this lease, in conjunc- tion with a trustee's sale or transfer to sadsfy Lessee's obligation to a mortgagx, as does the Lessee under the terms of this lease. E. At any time the C7ty is to pay the Lessee for structures or improvements on the leased land, the �ity shall give notice to each mortgagee of that payment, and said mortgagee shall have the right to receive payment for any outstanding obligation secured by mortgage or deed of trust on the leasehold and improvements. F. The GYty shall be required to give such notice only if the mortgagee has, in writing, informed the GSty of its in- terest and has supplied an address for said notice. X. OV4'NERSHIP OF IMPROVEMENfS AIl structures and improvements siruated on the leazed land when this lease s entered into are, and shall conrinue to be, the property of the Lessee, and all improvements hereinafter made by the Lessee on the leased land shall be the property of the Lessee. XI. SUCCFSSORS IPI INT'EREST A. In the event of the death of a 7 essee, his successors and estate shall succeed to his interest under tttis lease, and those entided by law to succeed to the I,essee's interest in the lease shalI continue to enjoy the righu and benefits herevnder of the deceased iessee; B. In the event that the Lessee or lvs Assi�ee is adjudicated a bankrupt, said lease may be assigned as p*ovided above, and any Assignee shall assume the duties and liabilities az set out above. RYI. 'VEIVIJE Yenue of any action brought haeunder shall lie ezclurively in Tarrant County, Texas. RIII. NOTTCE A. Any notice required under tlus lease, unless otherwise spec�ed, shall be given by depositing in theiJnited States Maz7 as certi6ed mail, postage prepaid, addressed to the: 1. Lessce's or Assignee's at the address shown oa this lease unless said Lessee or Assignee has furnished to the GSty, in writing; ins!nx:tions to mxil .*.otaces to znot3e: q4�iCSS� 2. CYty Manager of the G�ty of Fort Worth, GSty Hall, Fort Worth, Texas; 3. Mortgagee at the address supplied to the G�ty in writing for the mailing of such notice. _ _ .... . . . X.iV. CQNaCLkISION This inmument represenzs the eatire agreement bthvxn ihe parties concerning the leasing of the leased land and shall be binding upon and shall be to the benefit of the parties hereto; their sucoessors, assigns, and legal represen- tatives, and all prior leases, assignmenu, or a�eemenu of any nature concerning the leased land or property situated thereon are superseded by the terms of this kase. HXECU'TED at Fort Worth, Tarrant County, Texas, this day of 198_. �.2`I � 3 � 3�� : y'.:s,•,v ^'_:�.:..,::: :ti �::5+4 ATTEST: � � ""�i ,,>�-;. f � A�, ,�,;� .� . ��s:>;';;��' .��'s?F -t—Q--�t� c�fy s ecary � �k' ��_ ��PROV�D �"` �/ � S�:T�F D L �� !�X�4 �•-- <;,: : �, s, CYty Attorney �. z"`m �� . :��:�'� STATE OF TE}CAS" . . § COUNTY OF:T'ARTtANT § _ � ;, .. �} : • •. , . I _ i: I .'j..�.� i :.� ' �.., ' �l t_ . .i 'J CITY OF FORT WORTFi ��c:._ sy �a�� :l i,. . 3IIL e??LGi"-"�.} � ti -% � c�rr�t�zu Lessee Doro I,: Crumrine BEFORE ME, the undersigned authority, a Notary Public in and for Yhc State of Tcxas, ort tl�is day �ersonaLy appeared ��'_71. (' . .4�--, � , known to me to bc the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed ihe�same as tbe� and decd of the GYty af Fort Worth, a municipai wrpontion of Tanant County Texas, and as y� thereof, and for the purposes and consideration therein expressed and in the capacity there n stated. C/ � GIVEN U}�I�ER��IvIY HAND AND SEAL OP OFFTCE this �_ dyy of � A.D.,198_:�� ,�Y` � .�?�; r:��r;_. ::r.: _f ~, asi'�;:�.�� - � �'r,� —� Notary Public in and for ' _�;"'�' the State of Texas fvZ3 •STATE OF TEXAS § CdUNTY OF TA1tRANT § appeared MY ��ssion Expires:_ �'ebruazv 28, ].985 �I� 1 � No Public ia and for i SzaLe of Texas �� 4. , r�ae{�a aaa�rw��3Y. RN� RGENT , iEAAS 761�}� fersigned authority, a Notary Public in and for the State of Texas, on this day personally iae/r?orothv L Crumr3�e �,�own fo me to be ihe person whose name is instrument, and acknowledged to me that he eacecuted ihe same for the purposes and con- HAND AND SEAL OF OFFICE this 27th �ay ofJanuary , A.D. 127i3 �;��CQ