HomeMy WebLinkAboutContract 59170CSC # 59170
LEASE AMENDMENT
TO LAKE WORTH RESIDENTIAL LEASE. AGREEMENT
This AMENDMENT TO LAKE WORTH RESIDENTIAL LEASE AGREEMENT
("Amendment") is entered into by and between Lazaro Reyes Jr. ("Tenant') and City of Fort Worth, a
Texas home rule municipal corporation ("Landlord").
WHEREAS, Landlord entered into a lease agreement (the "Lease") with Edwin and Virginia Glass
for the property located at 7321 Love Circle, Fort Worth, Texas 76135 being more particularly described
as Lot 17, Block 15, Lake Worth Leases Addition, Fort Worth, Tarrant County, Texas (the
"Leased Premises"); and
WHEREAS a copy of the Lease is attached hereto as Exhibit "A" and incorporated herein by
reference as if set forth in full; and
WHEREAS on June 27, 2006, Edwin and Virginia Glass assigned their interest in the Leased
Premises to Karree L. Satterwhite through that certain Assignment recorded as document number
D206224861 and filed on July 24, 2006 in the Official Real Property Records of Tarrant County, Texas;
and
WHEREAS on October 3, 2017, Karree L. Satterwhite assigned her interest in the Leased Premises
to Lazaro Reyes Jr. through that certain Assignment recorded as document number D217241442 and filed
on October 17, 2017 in the Official Real Property Records of Tarrant County, Texas; and
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; and
WHEREAS, Landlord and Tenant desire to effect 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, is 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:
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
Term. The terns 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 Amendment Effective Date ("Closing Deadline"). If the closing of the sale of the Leased
Premises has not occurred by the Closing Deadline, this Lease shall expire on the Closing Deadline.
2. 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."
3. 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."
4. 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 of the date this Amendment is notarized by the City.
LANDLORD:
The City of Fort Worth
pap &wg aloff
Dana Burghdoff (M 31, 20231 :34 CDT)
Assistant City Manager
Dana Burghdoff,
Approved as to Form and Legality.
Matthew A. Murray 44pdUUn�
Assistant City Attorney a�AYaa°�a�oF
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Jannette S. Goodall
City Secretary
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.
Name Nita Shinsky
Title: Land Agent
STATE OF TEXAS §
COUNTY OF TARRANT §
This instrument was acknowledged before me on the 31st day of M a rC h , 2023, by
Dana Burghdoff, Assistant City Manager of the City of Fort Worth, a Texas municipal corporation,
on behalf of the City of Fort Worth.
o,�pRY/°(ie/ SELENA ALA
2 Notary Public
* * STATE OF TEXAS
GV �y Notary I.D. 132422528
9�oF� My Comm. Exp. Mar. 31, 2024
Selena Ala (Mar 313 2:36 CDT)
Notary Public
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
TENANT:
Cr
Printed Name: Reyes, Jr.
LImARe,
STATE OF TEXAS §
COUNTY OF TARRANT §
This instrument was acknowledged before me on the
2023 by l-a�. Reyes, Jr.
L aSkao
74W.
Notary Public
day of