HomeMy WebLinkAboutContract 41235-T1CSC No. 41235-T1
LEASE TERMINATION AND RELEASE OF REVERTER
THE STATE OF TEXAS §
COUNTY OF TARRANT §
WHEREAS, the City of Fort Worth ("Tenant"), acting by and through its duly authorized
Assistant City Manager and 3741 SW Loop 820, LLC, a Texas limited liability company
("Assignor") made and entered into a Lease Agreement (the "Lease") (City Secretary Contract No.
41235) on December 10, 2010 for the improvements situated on the property more particularly
described in the Exhibit "A," attached hereto and made a part hereof for all purposes, located at
3741 SW Loop 820, Fort Worth, Texas 76162, such improvements consisting of buildings,
structures, other improvements, and all fixtures, systems, and facilities (the "Leased Premises"); and
WHEREAS, in conjunction with the Lease, Assignor donated the land on which the Leased
Premises is located (the "Land") to the Tenant by deed recorded under Document Number
D211023645, Official Public Records, Tarrant County, Texas (the "Donation Deed"); and
WHEREAS Assignor reserved a reverter interest in the land conveyed to Tenant ("Reverter
Interest") in the Donation Deed, providing that in the event that Tenant did not pay all of the lease
payments due to Assignor under the Lease to Assignor, the Land would automatically revert to
Assignor; and
WHEREAS Assignor assigned its interest in the Lease and in the Reverter Interest to the
Fort Worth Local Development Corporation ("Landlord") by that certain Assignment of Lease and
Reverter Interest made and entered into on May 7, 2014 and recorded on May 9, 2014 under
Document Number 214095207, Official Public Records, Tarrant County, Texas; and
WHEREAS, contemporaneously with this Lease Termination and Release of Reverter,
Landlord is conveying its ownership of the Leased Premises to Tenant, and the parties agree the
Lease is to be terminated and the Reverter Interest released upon such conveyance.
NOW THEREFORE, Landlord and Tenant, acting herein by and through their duly
authorized representatives, hereby acknowledged and agree that effective immediately upon the
conveyance of the Leased Premises from Landlord to Tenant, the Lease shall terminate and upon
termination neither party shall have any further rights or obligations under the Lease, and the
Reverter Interest is hereby released by Landlord.
Lease Termination and Release of Reverter
3741 SW Loop 820, Fort Worth, Texas 76162
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
TENANT:
CITY OF FORT WORTH
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Dana Burghdoff, Assistant City Manager
APPROVED /AS TO FORM AND LEGALITY:
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Matthew A. Murray
Assistant City Attorney
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Jannette S. Goodall
City Secretary
After Recording Please Return to:
City of Fort Worth
Property Management
c/o Ricardo Salazar
200 Texas Street
Fort Worth, Texas 76102
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 requrirements.
By: Ticky
/lName:alazar
Title: Assistant Director, Property Management Department
Lease Termination and Release of Reverter
3741 SW Loop 820, Fort Worth, Texas 76162
LANDLORD:
FORT WORTH LOCAL
DEVELOPMENT CORPORATION
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Gyn i ens, NresNent
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
THE STATE OF TEXAS
COUNTY OF TARRANT
BEFORE ME, the undersigned authority, on this day personally appeared Dana Burghdoff,
known to me to be the person and officer whose name is subscribed to the foregoing instrument,
and acknowledged to me that she executed the same as the act and deed of the City of Fort Worth, a
municipal corporation of Tarrant County, Texas, for the purposes and consideration therein
expressed.
GIVEN UNDER
MY HAND
AND SEAL OF OFFICE, this
lath day of
January
2022
Digitally signed by Selena Ala
Selena AI a Date: 2022.01.18 13:17:10
-06'00'
Notary Public, State of Texas
r o SELENA ALA
4
Notary Public
* ► STATE OF TEXAS
THE STATE OF TEXAS
Notary I.D. 132422528
My Comm, Exp. Mar, 31, 2024
COUNTY OF TARRANT
§
BEFORE ME, the undersigned authority, on this day personally appeared Gyna Bivens,
known to me to be the person and officer whose name is subscribed to the foregoing instrument,
and acknowledged to me that she executed the same as the act and deed of the Fort Worth Local
Development Corporation for the purposes and consideration therein expressed.
GIVEN UNDER MY HAND AND SEAL OF OFFICE, this Z st day of
2� ftk" y � 2023.
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Notary Public, State of Texas
Lease Termination and Release of Reverter
3741 SW Loop 820, Fort Worth, Texas 76162
EXHIBIT "A"
Lot 1 R, Block 40-C, Wedgwood Addition, an addition to the City of Fort Worth as shown on the plat
recorded under Tarrant County Clerk's Instrument No. D210298369, Real Property Records, Tarrant County
Texas
Lease Termination and Release of Reverter 4
3741 SW Loop 820, Fort Worth, Texas 76162