The URL can be used to link to this page

Home My WebLink AboutContract 57843 City Secretary Contract# 57843 LEASE AMENDMENT TO LAKE WORTH RESIDENTIAL LEASE AGREEMENT This LEASE AMENDMENT TO LAKE WORTH RESIDENTIAL LEASE AGREEMENT ("Amendment") is entered into by and between Michael and Judith Reese ("Tenant") and City of Fort Worth, a Texas home rule municipal corporation("Landlord"). WHEREAS on March 30, 1982 Landlord entered into a lease agreement(the "Lease") with James E. and Jane Chapin for property located at 7916 Kay Lea Dawn Court f/k/a 7916 Malaga Drive with a legal description more particularly described as Lot 6, Block 7, Lake Worth Lease Survey, Fort Worth, Tarrant County, Texas (the "Leased Premises"), said Lease attached hereto as Exhibit"A"; and WHEREAS the Lease has a term of a fifty(50)years ending on January 31, 2032 and was recorded in the Official Real Property Records of Tarrant County, Texas on January 12, 2001 as document number D201008895; and WHEREAS upon the death of James E. Chapin in July of 1983, Jane Chapin inherited James E. Chapin's interest in the Lease; and WHEREAS Jane Chapin assigned her interest in the Lease to Jimmy Long and wife, Agnes Long by that certain assignment filed as document number D192065957 and recorded on April 8, 1992 in the Official Real Property Records of Tarrant County, Texas; and WHEREAS Jimtny Long obtained Agnes Long's interest in the Lease by that certain Special Warranty Deed filed as document number D192199396 and recorded on October 15, 1992 in the Official Real Property Records of Tarrant County, Texas; and WHEREAS the lease was assigned to Patricia and Vaughn Gibbs on October 20, 1997; and WHEREAS on September 16, 2004 the Leased Premises was replatted and it is necessary to amend the Lease to correctly identify the legal description of the Leased Premises; and WHEREAS the lease was assigned to Michael and Judith Reese on May 22, 2014 and the Lease is now between Landlord and Tenant; OFFICIAL RECORD Lease Amendment to Lake Worth Residential Lease Agreement CITY SECRETARY 7916 Kay Lea Dawn Court FT. WORTH, TX WHEREAS,pursuant to Section 272.001(h) of the 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; WHEREAS, Landlord and Tenant desire to affect 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,are 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 disposition of the Leased Premises in the event of a sale or for the terms 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. NOW THEREFORE, in consideration of the mutual agreements herein and other good and valuable consideration,the parties agree as follows: 1. Le2al Description of the Leased Premises. Section I of the Lease is amended to describe the Leased Premises as follows: Lot 6, Block 7, Lake Worth Lease Survey, Fort Worth, Tarrant County, Texas as described by the plat recorded on February 9, 2001 as Cabinet A, Slide 6446 in the Official Real Property Records of Tarrant County,Texas and also being known as 7916 Kay Lea Dawn Court and formerly as 7916 Malaga Drive, Fort Worth, Texas 76135 2. 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 execution of the Purchase and Sale Agreement("Closing Deadline"). Tf the closing of the sale of the Leased Premises has not occurred by the Closing Deadline, this Lease shall expire on the Closing Deadline. Lease Amendment to Lake Worth Residential Lease Agreement 7916 Kay Lea Dawn Court 2 3. Expiration of Lease. Section VII EXPIRATION 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 on any part of the Leased Premises during the lease term are considered part of the real property of the Landlord and must remain 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.Before the Lease terminates, Tenant must repair any damage to any buildings or improvements on the Leased Premises resulting from the removal.Any such items not removed by the lease termination date will become Landlord's property on that date." 4. Ownership of Improvements. 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 the 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." 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] Lease Amendment to Lake Worth Residential Lease Agreement 7916 Kay Lea Dawn Court 3 Executed to be effective as of the date this Amendment is executed by the City. LANDLORD: CITY OF FORT WORTH,TEXAS, a Texas municipal corporation ✓z?l,l r LUGI of a By: Dana Burghdoff(Ju 15,2022 :OO CDT) Dana Burghdoff, Assistant City Manager APPROVED AS TO FORM AND LEGALITY: Matthew Murray Assistant City Attorney M&C: L-15964 � 1295: N/A oap�OFOR 0 4� d 0 ATTEST: �0 4 d 0 Tgnnefte S. Goo�gll 000 o=d 0 0 �d Jannette S.Goodall(Jul 18,2022 08:10 CDT) �j 00 000 Jannette S. 00 00000 City Secretary Goodall d��nEXASoAp 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. ZUSU Nita Shinsky(Ju115, 2209:26 CDT) Name of Employee: Nita Shinsky Title: Land Agent OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX Lease Amendment to Lake Worth Residential Lease Agreement 7916 Kay Lea Dawn Court 4 TENANT: Michael Reese ] i Reese STATE OF TEXAS § COUNTY OF TARRANT § This instrument was acknowledged before me on the 15 day of J u ly , 2022,by Dana Burghdoff, Assistant City Manager of the City of Fort Worth, a Texas municipal corporation, on behalf of that entity. SELENA ALA 1�9 Notary PublicSTATE OF TEXAS Notary I.D. 132422528 Selena Ala(Jul is,2022 is:22 tor) My Comm. Exp. Mar.31,2024 Notary Public STATE OF TEXAS § COUNTY OF TARRANT § This instrument was acknowledged before me on the _ day of,,- l , 2022, by Michael Reese. Notary Public LORETTA HUNTER ;.`. Notsry Public,State of Texas Comm. Expires 05-16-2023 `v21 ....��: 'f,°;,;.�• Notary ID 132010090 Lease Amendment to Lake Worth Residential Lease Agreement OFFICIAL RECORD 7916 Kay Lea Dawn Court CITY SECRETARY FT. WORTH, TX STATE OF TEXAS § COUNTY OF TARRANT § This instrument was acknowledged before me on the 1 day of U 1 , 2022,by Judith Reese. otary Public ��'tit"`trry LORETTA HUNTER "`AFY PU�r i Wiz,• Notary Public, State of Texas z Comm. Expires 05-10-2023 ID 132010090 Lease Amendment to Lake Worth Residential Lease Agreement OFFICIAL RECORD 7916 Kay Lea Dawn Court CITY SECRETARY FT. WORTH, TX