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HomeMy WebLinkAboutContract 59440CSC No. 59440 CONTRACT OF SALE AND PURCHASE THIS CONTRACT OF SALE AND PURCHASE ("Contract") is made and entered into by and between the CITY OF FORT WORTH, TEXAS, a home rule Municipal Corporation of the State of Texas, acting by and through its duly authorized City Manager or Assistant City Manager ("Purchaser") and the Fort Worth Independent School District, a political subdivision of the state of Texas and a legally constituted independent school district, acting by and through its Board of Trustees ("Seller"), as of the date on which this Contract is executed by the last to sign of Seller and Purchaser ("Effective Date"). AGREEMENT In consideration of the mutual covenants in this Contract, Seller and Purchaser agree as follows: Section 1. Sale and Purchase. (a) Seller agrees to sell and convey to Purchaser and Purchaser agrees to purchase and accept from Seller, on and subject to the terms and conditions set forth in this Contract approximately 24 acres of land, more or less, known as LOWERY ROAD SCHOOL SITE SUB Lot 2, Tarrant County, Texas (also known as 840 Cooks Lane, Fort Worth, Texas) (the "Land"), together with: (i) all buildings, fixtures, structures and improvements thereon; (ii) any strips or gores between the Land and all abutting properties; (iii) all roads, alleys, rights -of -way, easements, streets and ways adjacent to or serving the Land and rights of ingress and egress thereto, whether surface, subsurface or otherwise; (iv) any land lying in the bed of any street, road or access way, opened or proposed, in front of, at a side of or adjoining the Land, to the centerline of such street, road or access way; (v) all of Seller's rights, titles and interest, if any, in and to all water rights or any kind or character pertaining to the Land; and (vi) all licenses, interests, and rights appurtenant to the Land. The Land and Items (i)-(vi) are collectively referred to as the "Property". (b) Seller shall convey the Property to Purchaser free and clear of all liens, claims, easements, rights -of -way, reservations, restrictions, encroachments, tenancies, and any other encumbrances (collectively, the "Encumbrances") except the Encumbrances appearing in the Title Commitment and the Survey (hereinafter defined) that are not cured and that are subsequently waived pursuant to Section 3 ("Permitted Encumbrances"). (c) Notwithstanding anything to the contrary, Seller hereby retains and reserves from this conveyance (and the Property does not include) for itself, and its successors and assigns, any and all interest in any and all oil, gas, and other minerals in, on, or under the Land; provided, however, Seller hereby waives and relinquishes access to any use of the surface of the Property. Section 2. Indenendent Contract Consideration and Purchase Price. (a) Contemporaneously with the execution of this Contract, Purchaser delivers to Seller a check in the amount of $50.00 ("Independent Contract Consideration") as independent consideration for Seller's execution, delivery, and performance of this Contract. This Independent Contract Consideration is in addition to and independent of any other consideration or payment provided for in this Contract, is non-refundable, and shall be retained by Seller notwithstanding any other provision of this Contract; however, upon Closing (as hereinafter defined), the Independent Contract Consideration shall be applied as a credit toward the Purchase Price (as hereinafter defined). (b) The purchase price ("Purchase Price") for the Property, payable by Purchaser to Seller at Closing (as hereinafter defined), is Seven Hundred Fifty Thousand Dollars and 00/100 DOLLARS ($750,000.00). Section 3. Title Commitment and Survev. OFFICIAL RECORD 840 Cooks Lane, Fort Worth, Texas CITY SECRETARY Page 1 of 10 FT. WORTH, TX (a) Within fifteen (15) business days after the Effective Date, Purchaser shall obtain at Purchaser's sole cost and expense, a Commitment for Title Insurance ("Title Commitment") from Alamo Title Company, 2900 S. Hulen Street, Suite 30, Fort Worth, Texas 76109, Telephone: 817-921-1215, Attention: Lavonne S. Keith, Escrow Officer (the "Title Company"). The Title Commitment shall be effective as of a date which is on or after the Effective Date, showing Seller as the record title owner of the Land, and shall show all Encumbrances and other matters, if any, relating to the Property. The Title Company shall also deliver contemporaneously with the Title Commitment legible copies of all documents referred to in the Title Commitment, including but not limited to, plats, reservations, restrictions, and easements. (b) Purchaser may obtain a survey of the Property ("Survey") at Purchaser's sole cost and expense. The Survey shall consist of a plat and field notes describing the Property, prepared pursuant to a current on -the -ground staked survey performed by a registered public surveyor or engineer satisfactory to the Purchaser and Title Company. The Survey shall: (i) be certified to Purchaser, its successors and assigns, and Title Company; (ii) reflect the actual dimensions of and the total number of square feet within the Property net of any portion thereof lying within a publicly dedicated roadway or a utility easement; (iii) identify any rights -of -way, easements, or other Encumbrances by reference to applicable recording data; and (iv) include the Surveyor's registered number and seal and the date of the Survey. The description of the Property prepared as a part of the Survey will be used in all of the documents set forth in this Contract that require a legal description of the Property. (c) Purchaser shall have a period of time ("Title Review Period") commencing on the Effective Date and ending fifteen (15) business days after the Effective Date in which to notify Seller in writing of any objections ("Objections") Purchaser has to any matters shown on the Title Commitment or the Survey. (d) Seller shall have the option, but not the obligation, to remedy or remove all Objections (or agree irrevocably in writing to remedy or remove all such Objections at or prior to Closing) during the period of time (the "Cure Period") ending on the tenth business day after Seller's receipt of Purchaser's notice of such Objections. Except to the extent that Seller cures, or agrees in writing to cure, such Objections during the Cure Period, Seller shall be deemed to have elected not to cure such matters. If Seller is, or is deemed to be, unable or unwilling to remedy or cause the removal of any Objections (or agree irrevocably to do so at or prior to Closing) within the Cure Period, then either: (i) this Agreement may be terminated in its entirety by Purchaser by giving Seller written notice to such effect during the period of time (the "Termination Period") ending on the fifth (5') business day following the end of the Cure Period, and the parties shall be released of further obligations under this Agreement; or (ii) any such Objections may be waived by or on behalf of Purchaser, with Purchaser to be deemed to have waived such Objections if notice of termination is not given within the Termination Period. Any title encumbrances or exceptions which are set forth in the Title Commitment or the Survey and to which Purchaser does not object within Title Review Period (or which are thereafter waived or deemed to be waived by Purchaser) shall be deemed to be permitted exceptions (the "Permitted Exceptions") to the status of Seller's title to the Property. (e) Any other provision herein to the contrary notwithstanding, all Objections that Seller agrees in writing to cure at or prior to Closing (collectively, the "Mandatory Cure Items") shall be satisfied, cured or removed by Seller, at Seller's sole cost and expense, at or prior to Closing. Section 4. Due Diligence Documents. Within five (5) business days after the Effective Date, Seller shall deliver to Purchaser for Purchaser's review: (i) any and all tests, studies, and investigations relating to the Property, including, without limitation, any soil tests, engineering reports or studies, and any Phase I or other environmental audits, reports or studies of the Property; (ii) any and all information regarding condemnation notice(s), proceedings and awards affecting the Property; (iii) any existing survey(s) of the 840 Cooks Lane, Fort Worth, Texas Page 2 of 10 Property; and (iv) all proposed or existing private covenants, conditions, and restrictions, of which the Property will be a part and any other private agreements affecting the use or development of the Property. Section 5. Tests. Purchaser, at Purchaser's sole cost and risk, shall have the right to make inspections, surveys, test borings, soil analysis, and other tests, studies, and surveys, including without limitation, environmental and engineering tests, borings, analysis, and studies ("Tests"). Any Tests shall be conducted at Purchaser's sole expense. At the conclusion of the Tests, the Property will be restored by Purchaser, at Purchaser's sole expense, to at least a similar condition as before the Tests were conducted. In the event this transaction does not close for any reason whatsoever, the Purchaser shall release to the Seller any and all independent studies or results of Tests obtained during the Option Period (as defined below). Section 6. Option Period. (a) Notwithstanding anything to the contrary contained in this Contract, until sixty (60) days after the Effective Date ("Option Period"), the following is a condition precedent to Purchaser's obligations under this Contract: Purchaser being satisfied in Purchaser's sole and absolute discretion that the Property is suitable for Purchaser's intended uses, including, without limitation, Purchaser being satisfied with the results of the Tests (defined in Section 5 above). (b) If Purchaser is not satisfied in Purchaser's sole and absolute discretion as to the condition precedent' described in Section 6(a) above, Purchaser may give written notice thereof to Seller on or before the end of the Option Period, whereupon this Contract shall terminate. Upon such termination, the Contract will terminate, and neither party shall have any further rights or obligations under this Contract. (c) The provisions of this Section 6 control all other provisions of this Contract. (d) The parties agree that the Option Period will not be extended upon expiration without a written amendment signed by both parties. Section 7. Closing Deadline. The closing ("Closing") of the sale of the Property by Seller to Purchaser shall occur through the office of the Title Company on or before thirty (30) days after the expiration of the Option Period. Section 8. Closing. (a) At the Closing, all of the following shall occur, all of which are deemed concurrent conditions: (1) Seller shall deliver or cause to be delivered to Purchaser the following: (i) A Special Warranty Deed ("Deed"), fully executed and acknowledged by Seller, conveying to Purchaser good and indefeasible fee simple title to the Property subject only to the Permitted Encumbrances, but containing a reservation of the mineral rights to the Seller, and including a use restriction subject to a right of reverter on behalf of Seller that the Property, for thirty (30) years from the date of conveyance by Seller to Purchaser, shall be occupied and used solely for: the purpose of operating a city park, operating recreational facilities or authorizing non-profit entities to do so, operating adult education or training facilities or authorizing non -profits to do so, operating art, music, or performing arts facilities, or authorizing non-profit entities to do so, operating a voting 840 Cooks Lane, Fort Worth, Texas Page 3 of 10 location for local, state, or federal elections, or for operating or authorizing a non-profit to operate for any other purpose that benefits the public or public interests of persons and families living within the Fort Worth Independent School District as well as the citizens of the city of Fort Worth; (ii) A Non -Foreign Person Affidavit, in form and substance reasonably satisfactory to Purchaser, fully executed and acknowledged by Seller, confirming that Seller is not a foreign person or entity within the meaning of Section 1445 of the Internal Revenue Code of 1986, as amended; (iii) Evidence of authority to consummate the sale of the Property as is contemplated in this Agreement or as Purchaser may reasonably request; and (iv) Any other instrument or document reasonably necessary for Title Company to issue the Owner Policy in accordance with Section 8(a)(3) below. (2) Purchaser, at Purchaser's sole cost and expense, shall deliver or cause to be delivered to Seller through the Title Company federally wired funds or a certified or cashier's check or such other means of funding acceptable to Seller, in an amount equal to the Purchase Price, adjusted for closing costs and prorations. (3) Title Company shall issue to Purchaser, at Purchaser's sole cost and expense, an Owner Policy of Title Insurance ("Owner Policy") issued by Title Company in the amount of the Purchase Price insuring that, after the completion of the Closing, Purchaser is the owner of indefeasible fee simple title to the Property, subject only to the Permitted Encumbrances, and the standard printed exceptions included in a Texas Standard Form Owner Policy of Title Insurance; provided, however, the printed form survey exception shall be limited to "shortages in area," the printed form exception for restrictive covenants shall be deleted except for those restrictive covenants that are Permitted Encumbrances, there shall be no exception for rights of parties in possession, and the standard exception for taxes shall read: "Standby Fees and Taxes for the year of Closing and subsequent years, and subsequent assessments for prior years due to change in land usage or ownership"; (4) Seller and Purchaser shall each pay their respective attorneys' fees. (5) Purchaser shall pay all recording fees and any other closing costs as set forth by the Title Company. (b) Purchaser will qualify for exemption from ad valorem taxation for the Property, and no ad valorem taxation shall accrue after the date of Closing. Seller, likewise, qualifies for exemption from ad valorem taxation for the Property and there should be no ad valorem taxes assessed on the period of time prior to Closing unless due to Purchaser's occupation, possession, and use of the Property prior to Closing. (c) Upon completion of the Closing, Seller shall deliver possession of the Property to Purchaser, free and clear of all tenancies of every kind except those disclosed in the Permitted Encumbrances. Section 9. Seller's Representations. Seller hereby represents and warrants to Purchaser, as of the Effective Date and as of the Closing Date, except as otherwise disclosed in written notice from Seller to Purchaser at or prior to Closing, that: (a) Seller's Authority. This Contract has been duly authorized by requisite action and is enforceable against Seller in accordance with its terms; neither the execution and delivery 840 Cooks Lane, Fort Worth, Texas Page 4 of 10 of this Agreement nor the consummation of the sale provided for herein will constitute a violation or breach by Seller of any provision of any agreement or other instrument to which Seller is a party or two which Seller may be subject although not a party, or will result in or constitute a violation or breach of any judgment, order, writ, junction or decree issued against or binding upon Seller or the Property; (b) No Pending Proceedings. To the best of Seller's knowledge, there is no action, suit, proceeding, or claim affecting the Property or any portion thereof, or affecting Seller and relating to the ownership, operation, use, or occupancy of the Property, pending or being prosecuted in any court or by or before any federal, state, county or municipal department, commission, board, bureau o agency or other governmental entity and no such action, suit, proceeding or claim is threatened or asserted; (c) Seller is Not a Foreign Person. Seller is not a foreign person or entity as defined in Section 1445 of the Internal Revenue Code of 1986, as amended, and Purchaser is not obligated to withhold any portion of the Sales Price for the benefit of the Internal Revenue Service; (d) No Insolvency Proceedings. No attachment, execution, assignment for the benefit of creditors, receivership, conservatorship, or voluntary or involuntary proceedings in bankruptcy or pursuant to any other debtor relief laws is contemplated or has been filed by or against Seller or the Property, nor is any such action pending by or against Seller or the Property; (,e) Contract Obligations. Except as otherwise disclosed in the Title Commitment, no lease, contract or agreement exists relating to the Property or any portion thereof. (f) No Competing Rights. Except for other condemning authorities, no person, firm, or entity, other than Purchaser, has any right to purchase, lease or otherwise acquire or possess the Property or any part thereof; however, Seller is not aware of any competing rights at this time; (g) No Regulatory Violations. To the best of Seller's knowledge, the Property is not in breach of any law, ordinance or regulation, or any order of any court or any federal, state, municipal, or other governmental department, commission, board, bureau, agency, or instrumentality wherever located, including, without limitation, those relating to environmental matters and hazardous waste, and no claim, action, suit or proceeding is pending or, to the best o Seller's knowledge and belief and after due inquiry, threatened against or affecting Seller or affecting the Property, at law or in equity, or before or by any federal, state, municipal, or other governmental department, commission, board, bureau, agency or entity wherever located, with respect to the Property or the Seller's present use and operation of the Property; and (h) No Hazardous Materials. To the best of Seller's knowledge: (i) there are no required federal, state, or local permits concerning or related to environmental protection and regulation for the Property; (ii) there is no pending action against Seller under any environmental law, regulation or ordinance and Seller has not received written notice of any such action or possible action; (iii) there is not now, nor has there been in the past, any release of hazardous substances on, over, at, from, into or onto any facility at the Property, as such terms are understood under the Comprehensive Environmental Response, Compensation and Liability Act; and (iv) Seller does not have actual knowledge of any environmental condition, situation or incident on, at or concerning the Property that could reasonably be expected to give rise to an action or to liability under any law, rule, ordinance or common law theory governing environmental protection. Seller acknowledges that Purchaser has relied and will rely on the representations and warranties of Seller in executing this Agreement and in closing the purchase and sale of the Property pursuant to this Agreement, and Seller, during the term of this Agreement, agrees to notify Purchaser promptly in the event that Seller obtains knowledge of any change affecting any of such representations and warranties, in which event Purchaser shall be entitled to exercise the remedies set forth in Section 14 hereof. Until and unless Seller's 840 Cooks Lane, Fort Worth, Texas Page 5 of 10 warranties and representations shall have been qualified and modified as appropriate by any such additional information provided by Seller to Purchaser, Purchaser shall continue to be entitled to rely on Seller's representations and warranties set forth in this Agreement, notwithstanding any contrary information resulting from any inspection or investigation made by or on behalf of Purchaser. All of Seller's representations and warranties, as so qualified and modified, shall survive Closing. Section 10. Seller's Covenants. (a) Updating of Information. Seller acknowledges that Purchaser will rely upon the Title Commitment, Survey, Due Diligence documents, and other materials delivered by Seller to Purchaser hereunder to satisfy itself with respect to the condition and operation of the Property, and Seller agrees that, if Seller discovers that the information contained in any of the materials delivered to Purchaser hereunder is inaccurate or misleading in any respect, then Seller shall promptly notify Purchaser of such changes and supplement such materials. (b) Prohibited Activities. During the term of this Agreement, Seller shall not, without the prior written consent of Purchaser, which consent Purchaser shall have no obligation to grant and which consent, if granted, may be conditioned in such manner as Purchaser shall deem appropriate in the sole discretion of Purchaser: (i) grant any licenses, easements or other uses affecting any portions of the Property; (ii) permit any mechanic's or materialman's lien to attach to any portion of the Property; (iii) .place or permit to be placed on, or remove or permit to be removed from, the Property any trees, buildings, structures or other improvements of any kind; or (iv) excavate or permit the excavation of the Property or any portion thereof. (c) Cooperation in Permitting Activities. During the term of this Agreement, Seller will cooperate with Purchaser in such manner and at such times as Purchaser may request in obtaining subdivision, zoning or rezoning, site plan development, building permit, and other approvals required for Purchaser's proposed use, including without limitation, signing such applications for such approvals and other instruments as may be required or authorizing Purchaser to sign such applications or instruments as Seller's agent or both. Purchaser shall bear the costs and expenses of obtaining all such approvals except for attorneys' fees that Seller may consider necessary in connection with reviewing such applications and instruments, which shall be borne solely by Seller. Section 11. AEents. Seller and Purchaser each represent and warrant to the other that it has not engaged the services of any agent, broker, or other similar party in connection with this transaction. Section 12. Closing Documents. No later than three (3) business days prior to the Closing, Seller shall deliver to Purchaser copies of the closing documents (including but not limited to the Deed) for Purchaser's reasonable right of approval. Section 13. Notices. (a) Any notice under this Contract shall be in writing and shall be deemed to have been served if: (i) delivered in person to the address set forth below for the party to whom the notice is given, (ii) delivered in person at the Closing (if that party is present at the Closing), (iii) placed in the United States mail, return receipt requested, addressed to such party at the address specified below, or (iv) deposited into the custody of Federal Express Corporation to be sent by FedEx Overnight Delivery or other reputable overnight carrier for next day delivery, addressed to the party at the address specified below. 840 Cooks Lane, Fort Worth, Texas Page 6 of 10 (b) The address of Buyer under this Contract is: City of Fort Worth Property Management Department 200 Texas Street Fort Worth, Texas 76102 Attn: Roger Venables Telephone: 817-392-6334 (c) The address of Seller under this Contract is: Dr. Joseph Coburn, Chief of District Operations Fort Worth Independent School District 100 N. University Dr. Fort Worth, Texas 76107 Telephone 817-814-2650 With a copy to: Leann D. Guzman City Attorney's Office 200 Texas Street Fort Worth, Texas 76102 Telephone 817-392-7600 With a copy to: Office of Legal Services 100 N. University Dr. Fort Worth, Texas 76107 Telephone: 817-814-1980 (d) From time to time either party may designate another address or phone number under this Contract by giving the other party advance written notice of the change. Section 14. Termination, Default, and Remedies. (a) If Purchaser fails or refuses to consummate the purchase of the Property pursuant to this Contract at the Closing for any reason other than termination of this Contract by Purchaser pursuant to a right so to terminate expressly set forth in this Contract or Seller's failure to perform Seller's obligations under this Contract, then Seller, as Seller's sole and exclusive remedy, shall have the right to terminate this Contract by giving written notice thereof to Purchaser prior to or at the Closing, whereupon neither party hereto shall have any further rights or obligations hereunder. (b) If: (1) Seller fails or refuses to timely consummate the sale of the Property pursuant to this Contract at Closing; (2) at the Closing any of Seller's representations, warranties, or covenants contained herein are not true or have been breached or modified; or (3) Seller fails to perform any of Seller's other obligations hereunder either prior to or at the Closing for any reason other than the termination of this Contract by Seller pursuant to a right so to terminate expressly set forth in this Contract or Purchaser's failure to perform Purchaser's obligations under this Contract, then Purchaser shall have the right to: (i) terminate this Contract by giving written notice thereof to Seller prior to or at the Closing and neither party hereto shall have any further rights or obligations hereunder; or (ii) waive, prior to or at the Closing, the applicable objection or condition and proceed to close the transaction contemplated hereby in accordance with the remaining terms hereof. Section 15. Survival of ObliLyations. To the extent necessary to carry out the terms and provisions hereof, the terms, conditions, warranties, representations, obligations, and rights set forth herein shall not be deemed terminated at the time of the Closing, nor shall they merge into the various documents executed and delivered at the time of the Closing. All representations and warranties by Seller in this Agreement: (i) will expire two years after the Closing as to matters for which Purchaser has not provided written notice to Seller within such period of time; and (ii) will expire as to all matters specified in any such written notice to the extent that such matters are not resolved or made the subject of litigation instituted prior to the expiration of three years after the Closing. 840 Cooks Lane, Fort Worth, Texas Page 7 of 10 Section 16. Entire Contract. This Contract (including the attached Exhibits) contains the entire contract between Seller and Purchaser, and no oral statements or prior written matter not specifically incorporated herein is of any force and effect. No modifications are binding on either party unless set forth in a document executed by that party. Section 17. Assigns. This Contract inures to the benefit of and is binding on the parties and their respective legal representatives, successors, and assigns. Neither party may assign its interest under this Contract without the prior written consent of the other party. Section 18. Taking Prior to Closing. If, prior to Closing, the Property or any portion thereof becomes subject to a taking by virtue of eminent domain, Purchaser may, in Purchaser's sole discretion, either (i) terminate this Contract and neither party shall have any further rights or obligations hereunder, or (ii) proceed with the Closing of the transaction with an adjustment in the Purchase Price to reflect the net square footage of the Property after the taking. Section 19. Governing Law. This Contract shall be governed by and construed in accordance with the laws of the State of Texas. Section 20. Performance of Contract. The obligations under the terms of the Contract are performable in Tarrant County, Texas, and any and all payments under the terms of the Contract are to be made in Tarrant County, Texas. Section 21. Venue. Venue of any action brought under this Contract shall be in Tarrant County, Texas if venue is legally proper in that County. Section 22. Severability. If any provision of this Contract is held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability will not affect any other provision, and this Contract will be construed as if such invalid, illegal, or unenforceable provision had never been contained herein. Section 23. Business Days/Effective Date. If the Closing or the day for performance of any act required under this Contract falls on a Saturday, Sunday, or legal holiday, then the Closing or the day for such performance, as the case may be, shall be the next following regular business day. The date on which the Title Company receipts a copy of the Contract is the "Effective Date." Section 24. Counterparts. This Contract may be executed in multiple counterparts, each of which will be deemed an original, but which together will constitute one instrument. Section 25. Terminologv. The captions beside the section numbers of this Contract are for reference only and do not modify or affect this Contract in any manner. Wherever required by the context, any gender includes any other gender, the singular includes the plural, and the plural includes the singular. Section 26. Construction. The parties acknowledge that each party and its counsel have reviewed and revised this Contract and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party is not to be employed in the interpretation of this Contract or any amendments or exhibits to it. Section 27. Attornev's Fees. If any action at law or in equity is necessary to enforce or interpret the terms of this Contract, each party shall bear its own attorneys' fees. [SIGNATURES APPEAR ON THE FOLLOWING PAGE] 840 Cooks Lane, Fort Worth, Texas Page 8 of 10 This Contract is EXECUTED as of the Effective Date. SELLER: The Fort Worth Indepe School District By: ''fobi Ja son, Presi ent Fort Worth Independent School District Board of Educatio Date: _��Y � V APPROVED AS TO LEGALITY AND FORM Atto ey Represent+FISD PURCHASER: CITY OF FORT WORTH, TEXAS By: Dana Burghdoff (may 19, )0 17:41 CDT) Dana Burghdoff, Assistant City Manager 44o �f AO aA3 Attest: 4aFa� Z, �ao//V oO� a4 Q�r�eiczx /� .:6kZr! tv eu do�'AX3'� �a44 /VI d Dna City Secretary M&C 20-0884 Date: 12/ 1 /2020 APPROVED AS TO LEGALITY AND FORM Assistant City Attorney OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX 840 Cooks Lane, Fort Worth, Texas Page 9 of 10 By its execution below, Title Company agrees to perform its other duties pursuant to the provisions of this Contract. TITLE COMPANY: Lgvohhe S. Keith By: Lavonne S. Keith (May 20, 202311:51 CDT) Name: Lavonne S. Keith Title: Escrow Officer Date: May 20, 2023 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. Jerem Van Rite (May 19, 202310:21 CDT) Jeremy Van Rite, Land Agent Property Management Department - Real Estate Division 840 Cooks Lane, Fort Worth, Texas Page 10 of 10 City of rO ft `n o fth Fort Texas Street ` I r �/ V Fort Worth, Texas Legislation Details File #: M&C 20-0884 Version: 1 Name: Type: Land - Report of CM Status: Passed File created: 11/19/2020 In control: CITY COUNCIL On agenda: 12/1/2020 Final action: 12/1/2020 Title: (CD 5) Authorize the Acquisition of a Fee Simple Interest in Approximately Twenty -Four (24) Acres of Land Located at 840 Cooks Lane from the Fort Worth Independent School District in the Amount of $750,000.00, Authorize the Payment of Estimated Closing Costs in the Amount of $12,000.00, Dedicate the Property as Parkland as an Addition to Cobblestone Trail Park, Adopt Appropriation Ordinance, and Amend the FY2021-2025 Capital Improvement Plan Sponsors: Indexes: Code sections: Attachments: 1. M&C 20-0884, 2. M&C Map 840 Cooks Lane.pdf, 3. 21 PARD-840 COOKS LANE.pdf Date Ver. Action By Action Result 12/1/2020 1 CITY COUNCIL Approved City of Fort Worth Page 1 of 1 Printed on 4/17/2023 powered by Legistar- CPN 103103 DOCUMENT TITLE: 840 Cooks Lane - 24.44ac PARD ACQ 01. Document Type — ROW, DEED, EASEMENT, LICENSE AGREEMENT, ETC. ARE THE ATTACHED EXHIBITS SEALED & SIGNED BY SURVEYOR? Y N 02. Closing Document - Master Settle Statement / HUD Closing Statement ARE WIRE INSTRUCTIONS INCLUDED WITH CLOSING STATEMENT? Y N 03. Closing Document - Arbitration Deletion Letter Form T-7 04. Closing Document - Notices/Acknowledgments (such as Business Affiliation, etc.) X 05. Offer Letter, Sales Contract or Letter Agreement amount matches Closing Statement 06. Project Communication or Contact Log (REQUIRED as of 12/7/2022) 07. Title Commitment X 08. Authorizing M&C or N/A if not needed I M&C: 1 20-0884 1 09. Other: 01. Document Type — ROW, DEED, EASEMENT, LICENSE AGREEMENT, ETC. ARE THE ATTACHED EXHIBITS SEALED & SIGNED BY SURVEYOR? Y N 02. Offer Letter, Sales Contract or Purchase Agreement HAS THE PROPERTY OWNER BEEN ISSUED A SUPPLIER /D NUMBER? Y N 03. Title Search/Report or Abstractor's Certificate 04. Original Vesting Deed(s) 05. SOSD or other proof of Signature Authority (N/A if property owner is an INDIVIDUAL) 06. Project Communication or Contact Log (REQUIRED as of 12/7/2022) 07. Latest property tax statement showing zero balance or past -due balance 08. Authorizing M&C or N/A if not needed I M&C: I I 09. Other: Please correct the following issues with the documentation : (if blank, no corrections needed):