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Home My WebLink AboutContract 57571 City Secretary Contract# 57571______ LEASE AMENDMENT" TO LAKE WORTH R[:SIDENI'IAL LEASE AGREEMENT ]'his LEASE, AMENDMEN-l' TO LAKE WORTH RESIDENTIAL LEASE AGREEMENT ("Amendment") is entered into by and hctwccn Kimberly A. Creason ("Tenant")and City of Fort Worth, a Texas [ionic rule niunicipa[ corporation("Landlord"). WHEREAS on January 29, 1982 Landlord entered into it Icase agreernent,attached hereto as Exhibit"A," (tile"Lease") with the original lessee, David 1-I. Tackel and Carol A. Tackel, for property located at 7500 Love Circle, Fort Worth,Texas 76135 said property being more particularly described as Lot 20,Block 14, Lake Worth Leases Survey, Fort Worth.Tarrant County,TX(the"Leased 11'rernises");and WHEREAS the leasehold interest in the Leased Premises was sold to Leroy Kirbic and Roxic Kirbic through that certain deed dated February 28, 1984 and filed as Volume 7758, Page 1968 in the Official Real Property Records of Tarrant County,Texas;and WHEREAS the Lease was assigned frotn Leroy Kirbic and Roxic Kirbie to Henry Kreiner through that certain assignment dated November 15, 1985 and filed as Volume 8383, Page 366 in the Official Real Property Records of Tarrant County,Texas;and WHEREAS the leasehold interest in the Leased Premises was sold by Flenry Kreiner to Ledford E. White and Amon T. Adcock through that certain Trustee's Deed by Substitute Trustee dated.]Lily 7, 1986 and filed as Volume 8610, Page 1613 in the Official Real Property Records of Tarrant County,Texas;and WHEREAS on July 2, 2004, the Leased Premises was replatted by that certain final plat tiled in Cabinet A, SIidc No. 9383-9384, Plat Records,Tarrant County,Texas;and WHEREAS the leasehold interest in the Leased Premises was sold by David Sutton, Independent Executor of the Estate of Amon T. Adcock to Ledford E. White through Iliat certain Warranty Deed dated January 18,2005 and fled as document no. D206046540 in the Official Real Property Records of Tarrant County, Texas; and WHEREAS the Lease was assigned to by Ledford E. Wititc to Kimberley A. Creason througli that certain assignment dated ❑cccmber 19,2007 and filed its docurenI no. D2100601 19 in the 0ffcial Rea Property Records ofTarrant County,Texas and Kimberley A. Creason is the current tenant under the Lease; and OFFICIAL RECORD CITY SECRETARY FT.WORTH, TX WHEREAS,pursuant to Section 272.00](11)nrthe Local Government Code, Landlord is authorized to sell the property to the person leasing the land for the fair market value of the land as determined by a certified appraiser; and WHEREAS, Landlord and Tenant desire to effect it sale or the Leased Premises from Landlord to Tenant tinder 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 (1 S) months of the execution of the Purchase and Sale Agreement; and WHEREAS, the existing Lease does not provide for terms of disposition of the Leased Premises in the event of a sale or for the loins of the termination of the Lease in the 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;and WHEREAS the parties also dcsirc to amend the Lease to restate and clarify the legal description of the Leased Premises. NOW THEREFORE, in consideration of the mutual agreements herein and other good and valuable consideration, the parties agree as follows: 1. Term. The term of the Lease is hereby amended to end upon the closing of the sale of the Leased Premises tinder the Purchase and Sale Agreement, which shall occur within cighteen (18) months after the Amendment Effective Date("Closing Deadline"). 1f the closing of the sale of the Leased Premises has not occurred by the Closing Deadline,this Lease shall expire oil the Closing Deadline. 2. Le al Description of the Leased Premises.Section I is amended to describe the Leased Premises as follows: Lot 20,Block 14, Lake Worth leases,an Addition to the City of Dort Worth,'Farrant County,"Texas situated in the Jacob Wilcox Survey,Abstract Nos, 1716 and 1717,as shown on the plat slated July 2, 2004 and fled in Cabinet A, Slide No. 9383-9384, flat I:ccords, Warrant County, Texas, said property also being known as 7500 I..nve Circle, I`ort NVorth,Texas 76135 3. Ex P irattion of Lease, Section V I I EX[IIRATION OF LEASE: is hereby deleted in its entirety and replaced with the following: "V11. EXPIRATION OF LEASE A. An}' buildings, improvements, additions, alterations, and fixtures (except furniture and trade f ix(ures)constricted,placed,or maintained on any part ofilie Leascd Premises during the lease term are considered part❑fthc real property of the Landlord and must rernain on the leased Premises and become Landlord's property when the Lease terminates. B. Before the Lease terminates, Tenant shall remove all personal property, furniture, machinery,or equipment in,under,or on the Leased Premises, Beforc tltc Lease terminates, Tenant must repair any damage to any buildings or improvements on the Leased Premises resulting from the removal.Any-,lie It items not removed by Elie lease termination date NviII become Landlord's property on that(fate." 4. Ownership of Iniproyements. Section X OWNI.RSI-111' OF IMPROVEMENTS is hereby amended by adding the following sentence at Elie 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 the Leased Premises; ho►vcver, 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 Prerniscs shall vest in Landlord without further payment by Landlord to Tenant for the improvements, and Tenant sliall not have any right to enter upon the Leased Premises." 5. 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. [signature page follows] Executed to be effective as ol� the date [his Amctidjuent is notarized by the City ("Amendment Effective Date"). LANDLORD: CITY OF FORT WORTIit TEXAS, a Texas municipal corporation By: Dana Burghdoff(Way 3,20 09:011 0CDT) Dana Burghdoff, Assistant City Manager APPROVED AS TO FORM AND LEGALITY: Matthew A. Murray Assistant City Attorney M&C: L-15964 1295: NIA ,C- 0�0 r ��aa� ATTEST: l.a ° �v o J ette S.Goodall(May 4,2022 15: DT) it °°° ° Jannette S. Goodall d� 000000O ° a City Secretary aZI rEXpS-oQp City of Fort 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. 7&za I — Name of Employee: N u Shinsk Title: Land gent TENANT: KI1MBERLY A. C EASON OFFICIAL RECORD Printed Name: Kimberly A. Crcason CITY SECRETARY FT.WORTH, TX STATE-' OF'TEXAS § COUNTY OF TARRANT § This instrument was acknowledged before me on theaday of 2022, by Kimberly A. Creason. • CATHY J.HUNTER NOTARY PUSLOC STATE OF TEXAS CWM fig'5z Notary Publi STATE OF "TEXAS § COUNTY OF TARRANT § This instniment was acknowledged before me on the 3rd day of May 2022, by Dana Surghdoff, Assistant City Manager of the City of Fort Worth, a Texas rnaunicipaI corporation, on behalf of that entity. O,�p.RY PUe/ SELENA ALA Notary Public * + STATE OF TEXAS 0' GGGVVV P Notary I.D. 132422528 Selena Ala(May 3,202212:53 CDT) 9FDF�+ My Comm. Exp. Mar.31,2024 Notary Public 1 OFFICIAL RECORD CITY SECRETARY FT.WORTH, TX