HomeMy WebLinkAboutContract 51261-EC2 r
CITY SECRUARY
rONI TRAcT NO.
ESTOPPEL CERTIFICATE 1
(CITY SECRETARY CONTRACT NO. 51261)
The undersigned, THE CITY OF FORT WORTH,TEXAS (the"City") hereby certifies
to KEYBANK, NATIONAL ASSOCIATION, ("Lender") and to ALL STORAGE WALSH
RANCH, LLC, a Texas limited liability company ("Assignee"), with respect to that certain Tax
Abatement Agreement for Property Located in a Neighborhood Empowerment Zone dated
August 23, 2018 by and between the City and Legacy Scenic, LP, as affected by that subsequent
assignment dated effective October 19, 2018,by Legacy Scenic, LP to Jefferson Oakhurst Scenic,
LLC ("Owner") (collectively, the "Agreement") as follows:
1. City Warranties. The City represents and warrants that as of the date hereof, (i) it
does not know of any default under the Agreement; (ii)there are no amendments to the Agreement;
(iii) no sums are currently due under the Agreement by Owner; (iv)the Agreement is in full force
and effect; (v) the Agreement expires on December 31, 2027; and (vi) the current amount of the
Abatement (as defined in the Agreement) is 100% and the Abatement commences for tax year
2023 and expires at the end of tax year 2027.
2. Collateral Assignment. The City hereby acknowledges that Owner intends to
assign all of its rights under the Agreement to Assignee, and Assignee shall subsequently
collaterally assign to Lender all of Assignee's rights under the Agreement. The City hereby
approves of such assignment of the Agreement to Assignee and Assignee's subsequent collateral
assignment of the Agreement to Lender. In the event Lender succeeds to the interest of Assignee
under the Agreement, the City agrees that Lender shall not be liable for any indemnity or
reimbursement provisions in the Agreement, and that the City shall look to the Owner or Assignee
regarding such obligations.
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OFFICIAL RECORD
CITY SECRETARY
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The City has executed this Estoppel Certificate as of the date first above written.
APPROVED AS TO FORM AND LEGALITY:
By:Ad'vyj),-- 'd,U?l
Melinda Ramos
Sr. Assistant City Attorney
Approved by M&C: None Required
CITY OF FORT WORTH, TEXAS:
By: "5:Z �,L--
Fernando Costa
Assistant City Manager
by:
Ll1)w: �v `� s;- i
onald P.
Gonzales,Ast.
rFT.
IAL RECORomtsy
SECRETARY
WORTH,TX
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