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Home My WebLink AboutContract 36936-CA2 CITY SECRETARY' U 10_1 Z, CONTRACT NO, ASSIGNMENT OF TAX ABATEMENT AG ENT This Assign nr.en:t of Tax abatement Agreement is made and entered into by and between Impression Homes, L.L.C., ("'Assignor") and Xlu Fang Liu and Ran Sun ("Assignee") ad the City of Fort Worth, ("City" RECITALS A. Waterview Estates, L.P., bars Investment, Inc., General Partner ("Water view") and the City of Fort Worth, Texas (the "City" entered 'nto that certain Tax Abatement Agreement "A ree ent" for Property Located 5 5 3 7 Grenada Drive Lot 15 Block l Waterfront at Enchanted Bay; an Addition to: the City of Fort Worth, .1"arrant County, Texas, according to the plat recorded and filed in Cabinet A Slide No. 11723, Plat Records, Tarrant County, Texas ("Property"") which is located in the 1,ake Arlington' Nei hborhood Empowerment Zone, such Agreement approved by the City Council. of Fort Werth November 6, 2007, City Secretary Contraci Number 36936 ("Agreement").- B. Pursuant to t certain Special Warranty Decd dated as of January l , 2013 �,t c recorded under Tarrant County Decd Records, Waterview conveyed the Property 'to Assignor and Assignor acquired title to the Property which is the subject of the Agreement C. Section 5 of the Agreement permits Watervilew to assign all of'its rights under the Agreement to Impression, -Homes, L.L.C. ("Impression"), without obtaining the prior consent of the City Council.- D. Waterview assigned the Agreement to mpress on Assignor, such Agreement is dated January uary 1 , 2013 City Secretary Contract Number 36936-CAI: E. Pursuant to, that certain Special 'warranty Decd dated as of March 27, 2013, recorded under 'farran.t County Deed Records, Assigner conveyed the Property to iu Fang Lein andRan Sun and Assignee acquired title to the real property which is the subject of the Agreement.. F. Section 5 of the Agreement permits Assignor to assign all of its rights under the Agreement to Assignee, without obtaining the prior consent t of the City Council: SOW THEREFORE n consideration of the mutual terms and conditions herein. curtained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the pasties hereby agree as f6llows. OFFICIAL RECORD C11r RECEIVED APR CITY SECRET'My , � ; 1 f 1. ss nment.,, Assignor hereby ASSIGNS, 'I'RANSFERS AND CONVEYS all rights, duties, obligations, title and 'interest under the Agreement to Assignee. 2. Acceptance. Assignee hereby accepts, the Assignment granted herein, and assumes all of Assignor's rights, duties and obligations arising under the Agreement. 3. 'Effective Date. The effective date of this Assignment is March 27, 2013 ("Effective Date"). All rights, duties and obligations under the Agreement arising!, accruing or relating to the period before the Effective Date are allocated to Assignor 0 and all, rights, duties and obligations arising, accruing or relating to the period thereafter shall be allocated to Assignee. 4. Release and Surrender of-Assignor. Except as otherwise expressly set forth in this Assigiunent, Assignor will be discharged from any and all further obligations under the Agreement as of the Effective Date. Assignor must surrender the Property to, the Assignee on or before 11:59 p. rn. on the date prior to the Effective Date in its present condition. Assignor relinquishes any right to any improvements, fixtures or equipment on the Property. 51. Rep ignor represents, war Le Ass* ants and covenants with Assignee that as of the Effective Date, that Assignor is not in default under any of its obligations contained in the Agreement. 61. Cit y of Fort Worth's Consent. City of Fort Worth hereby consents to this Assignment upon the terms and conditions set forth herein. Unless, and until City of Fort Worth has executed this Assignment, this Assignment is of no effect the consent granted herein should not be construed as consent to any further assignment ided in the Agreement., The failure or delay of City of Fort Worth in except as prov I rt seeking to enforce any provi'sions, of the Agreement or this Assignment should not be deemed a waiver of rights, or remedies that City of Fort Worth may have, or a waiver of any subsequent breach of the terms and provisions therein or herein contained. 7. Notices. Any notice given by any party to another party hereto must be given in the manner required under the Agreement. The addresses set forth below suplercede any addresses, for notices set forth in the Agreement. CITY OF FORT WORTH: City of Fort Worth Housing & Economic Development Department Neighborhood Empowerment Zone Program 1000 Throckmorton Fort Worth, Texas 76102 2 ASSIGNOR.- Impression Homes, L.L.,C. P.O. Box 1,838 Keller, Texas 76244 ASSIGNEE.: Xlu Fang IAu and Ran Sun 5537 Grenada Dri,ve Fort Worth, Texas '76119 8. Successors. Except as herein otherwise provided, this Assignment will be binding upon, and inure to the benefit of the parties,, and their respective heirs, executors,, adrninistrotors, successors and rise s. 9. Counte . This Assignment may be executed in multiple counterparts, each of which, once executed, will be an original and fully-binding on the parties so executing; and all such counterparts together constitute one and the same agreement. 10. 31 din Offer. This Assignment will be not be binding until executed and delivered by all fluee parties. M WITNESS WHEREOF, the parties have executed this Assignment as of the 4, date first above written. ASSIGNOR: Impression Homes, 1,,..L,.0 Name: Bruce Beikkinen Title: Managim- ember ASSIGNEE-. Xlu Fang Liu Name: Xt* an Liu ASSIGNEE: Rap Sun Na 3 ASSIGNOR: Impression Homes, f...L.C. P.O. fax 1838 Keller, Texas 76244 ASSIGNEE.- Randy Sun 5537 Grenada Drive Fort Worth, Texas 76119 8. Successors. Exce 'pt as herein otherwise provided, this Assignment will be binding upon and inure to the benefit of the parties,, and their respective heirs, executors,, administrators,,, successors and assigns. 9. Counte . This Assignment may be executed in multiple counterparts, each of which, once executed, will be an original and fully-binding on the parties so executing; and all such counterparts together constitute one and the same agreement. 10. Binding Offer. This Assignment will be not be binding until executed and delivered by all three parties. IN WITNESS WHERE OF, the parties have executed this Assignment as of the date first above written. I ASSIGNOR: mp ssi.on ornes, L.L-C,' JK" mp Nam6 Bruce Heikki'nen Title: Mgpagin 11 g Memr)er ASSIGNEE: Randy Sun Name: Randy Sun 3 CITY OF FORT WORTH. Femando Costa Assi0s ant City Manager ATTEST-, Ay 10;000, .#4T Mary KayseLvl§ /c &'d r APPROVED AS TO FORM ANA LEGALITY: ry F W4 Melinda.Ramos Assistant City Attomey M& C: 0-22514 OFFICIAL RECORD CITY SECRETARY WORTH,TX 4 STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Fernando Costa, Assistant City Manager of the CITY OF FOR WORTH, a municipal corporation, known, to me to be the person and officer whose name is subscribed to the foregoing instrurneriL and acknowledged to me that the same was the act of the said CITY OF FORT WORTH, TEXAS, a municipal corporation, that he was duly authorized to perform the same by appropriate Mayor and Council Communication of the City Council of the City of Fort, Worth and that he executed the same as the act of the said City for the purposes and consideration therein expressed and in the capacity 'therein stated. IV EN LJNDER MY HAND AND SEAL OF OFFICE this _day of 2013.- '1**Fotary Public in and for :0 the State of Texas -)NIA DANas MY co UON MMISS EXPIRES july 10,P-01,1 fill STATE OF TEXAS COUNTY OF TARRANT BEFORE ME, the undersigned authority, on this, day personally appeared Bruce Heikkinen, Managing Member of Impression Homes, L.L.C.,, known to, me to be the person whose name is, subscribed, to the foregoing instrument, and ack-nowledged to me that he executed the same for the purposes and consideration therein expressed, I*n the capacity therein stated and as the acit and deed of the Impression Homes,, L.L.C. a Texas limited liability company. GIVEN UNDER MY SAND AND SEAL OF OFFICE this 2- day of 10 13. lic in an ite of Texas MOO Ik ijo, BRANDON JACK,;0N T, I b rc eV pry..X s 11 X P i r 0 S 5 STATE OF TEXAS § COUNTY OFTARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Xl'u Fang Liu known to me; to be the person whose name is subscribed to the foregoing instrument', and acknowled fie dto me that he executed the same for the purposes and consideration therein expressed'7 in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this 27 day of ''th 13. > Z00,00 N Oary blic in and the tale of Texas, 2 PA I rL)")i "'4 A C T W I EXP 2 4,g 2 1 1 STATE OF TEXAS COUNTY OF TARRANT BEFORE ME, the undersigned authority, on this cay personally appeared Ran Sun, known to me to be the person whose naine is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed, in the capacity therein stated. GIVEN U-NDER MY HA ND SEAL OF OFFICE this 27 day of 3. N y lic in and the ate of Texas VAN, yx ........ A X D 4r............ 6