HomeMy WebLinkAboutResolution Fort Worth Local Development Corporation (FWLDC) FWLDC-2016-08RESOLUTION NO. FWLDC-2016-08
FORT WORTH LOCAL DEVELOPMENT CORPORATION
RESOLUTION
OF THE BOARD OF TRUSTEES
Authorizing a Sale Commission Agreement with
Transwestern Commercial Services, Fort Worth, LLC
for Property Located at 4700 Blue Mound Road
WHEREAS, Fort Worth Local Development Corporation ("Corporation") is the owner of
real property located at Lot 1, Block 1, Hobbs Trailer Addition of the City of Fort Worth, Tarrant
County, Texas, with a street address of 4700 Blue Mound Road ("Property") and of the 130,000
square foot facility located on the Property ("Facility");
WHEREAS, the broker, Transwestern Commercial Services, Fort Worth, LLC
("Transwestern"), has assisted in locating a tenant and potential buyer, CHM Industries, Inc., for
the Facility;
NOW, THEREFORE, BE IT RESOLVED that the Corporation hereby authorizes a
sale commission agreement with Transwestern for the Facility that provides the following:
(1) If and when Corporation and CHM Industries, Inc., closes on the sale of the property,
Broker shall thereupon have fully earned a sale commission;
(2) Sale Commission is 4.5% of the sale price;
(3) The prior lease commission payments to Transwestern for CHM Industries' occupancy at
the property will count toward the total sale commission.
FURTHER RESOLVED, that the Secretary or any Assistant Secretary of the
Corporation is hereby authorized and directed to certify the adoption of this Resolution.
Adopted thjf 7th day of June, 2016.