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HomeMy WebLinkAboutContract 59648-CA1STATE OF TEXAS COUNTY OF TARRANT CSC # 59648-CAl Know All Persons by These Presents: ASSIGNMENT WHEREAS, on the 3rd day of March, 1982, the City of Fort Worth, acting by and through its duly authorized Assistant City Manager, entered into a certain lease agreement (the Lease) with Maria Dianne Buckles, whereby the City of Fort Worth leased for a period of fifty (50) years, and zero months, commencing on the February 14, 1982, and ending on January 313r, 2032, at an annual rental rate of $564.00, subject to the adjustments set forth in the Lease, the following described property: Lot 21, Block 9, Lake Worth Lease Survey, Tarrant County, Texas, and otherwise known as 4200 Lakewood Drive, Fort Worth, Texas 76135, 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 February 1711, 1989 the Lease was assigned to Dale Allen Johnson; and WHEREAS on February 17ta, 1989 the Lease was assigned by Dale Allen Johnson to Leonard and Peggy Thomey by document number D189069036 filed on May 1, 1989 in the Official Real Property Records of Tarrant County, Texas; and WHEREAS on June 12ta, 2012, Leonard Thomey died and willed his interest in the Lease to Peggy Thomey; and WHEREAS on December 141h, 2021, the Lease was assigned by Peggy Thomey to Lakeside Property Ventures LLC, a Texas Limited Liability Company by document number D222051681 filed on February 28, 2022 in the Official Real Property Records of Tarrant County, Texas; and WHEREAS the current LESSEE under the Lease, Lakeside Property Ventures LLC, ASSIGNOR, desires to assign the Lease to Darren Hinkle, ASSIGNEE, pursuant to the provisions of Section IV (A) of the Lease. NOW THEREFORE, the City of Fort Worth does hereby consent to the assignment of the Lease from ASSIGNOR to ASSIGNEE. As consideration for the assignment of the Lease, ASSIGNEE hereby expressly accepts and assumes all obligations and liabilities of ASSIGNOR under the terms of the Lease and agrees to be bound by all the terms, provisions and covenants thereof. LESSOR'S consent to the assignment of the Lease is given with the understanding that all amounts owed to the City of Fort Worth under the terms of the Lease, including rent, penalties, interest, and ad valorem taxes, are paid and current to date. If ASSIGNOR is not current on any and all obligations owed to LESSOR under the terms of the Lease, this Assignment is null and void and of no force and effect. ASSIGNEE shall pay to LESSOR an assignment fee of One Hundred and Fifty Dollars and 00/100 ($150.00) to defer the administrative fees associated with this assignment. This Assignment may be executed In two or more counterparts,and itshall not be necessary that any one counterpart be executed by all of the parties hereto. Each fully or partially executed counterpart shall be deemed an original and all such counterparts taken together shall constitute one instrument. OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX IN WITNESS WHEREOF, the parties hereto have executed this Assignment on the 21St June .2023. LESSOR: The City of Port Worth Do Rurand&W mmruT Dana Burghdoff, Assistant City Manager Approved as to Form and Legality: .4zmee ..A& X Matthew A. Murray Assistant City Attorney e i 0f.e 0 J7 $fie Attest: % i� �0atp �osoA °pne�� A w Janette S. Goodall, City Secretary ASSIGNOR es I Pro ty ntures'LLC rm jqff amr, Manager for Lakeside Property Ventures, LLC Phone: City of Fort Worth Contract Compliance Manager. By signing I acknowledge that 1 am the person responsible for the monitoring and administration of this contract, includingensuringensuring all performance and reporting requirements. �� &ii,!. Nita Shinsky, Land Agent ASSIGNEE: Darren Hayes Hinkle z�//C Darren 1Hinkle Phone: day of RETURN RECORDED DOCUMENT TO: City of Fort Worth Property Management Dept. 900 Monroe St. Ste. 400 Fort Worth, Texas 76102 OFFICIAL RECORD CITY SECRETARY W. WORTH, T [acknowledgements follow] SLATE OF TEXAS $ COUNTYOFTARRANT $ BEFORE ME, the undersigned authority, personally appeared Jeff Miller, manager for Lakeside Property Ventures LLC, known to me to be the person whose name is subscribed to the foregoing Assignment, and who acknowledged to me that the document was read in its entirety and understood and was executed for the purposes and consideration expressed therein. i GIVEN UNDER MY HAND AND SEAL OF OFFICE this 10 day ,IA:fixA .2023. _ _ter•.,.-« LINDSAY'VAN3 �� +Y.cNotary Public, Stste of TB%e9 — A% 1'^3 Comm. Expires Olt-10-2024 Notary pub is 7 'OOXI !�;a`� Notary lD 10007304 STATE OF TEXAS § COUNTYOFTARRANT § BEFORE ME, the undersigned authority, personally appeared Darren Hinkle, known to me to be the person whose name is subscribed to the foregoing Assignment, and who acknowledged to me that the document was read in its entirety and understood and was executed for the purposes and consideration expressed therein. GIVEN UNDER MY HAND AND SEAL OF OFFICEthis__ dayof v /'tL 2023. � LINDSAY EVANS I Notary Pubic Fow 4,ENotary Public, State of TexasyComm. Expires 0&162024n ;a� p?" Notary ID 10607354 STATE OFTEXAS�_ $ COUNTY OF TARRANT $ BEFORE ME, the undersigned authority, personally appeared Dana Burghdoff, Assistant City Manager for the City of Fart Worth, known to me to be the person and officer whose name is subscribed to the foregoing Assignment, and acknowledged to me that the same was the act of the City of Fort Worth, a home -rule corporation, and that she executed the document as the act of said corporation for the purposes and consideration expressed therein and, in the capacity, stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this2lSt dayof dune 2023 ka^•^u w wlcm• SELENA ALA Notary Public Notary Public • • STATE DF TEXAS Notary I.D. 132422528 My Comm, Exp, Mar, 31, 2024 Exhibit Al tV LEASE AGREEMENT i THE STATE OF TEXAS , `t § KNOW ALL MEN BY THESE PRFSENT�. % r COUNTY OF TARRANT § i i 1 r ram. L The City of Fort Worth, Lessor, a home -rule municipal corporation situated in Tarrant Coum Tex4-(hereinafter sometimes referred to as "City") acting herein by and through . Nor -its C. t'atson K v, its di authdtized 4aSt' City Manager, and - �RTA i7 BUCi- -,Lessee, hereby make and enter in}n the iiillowing leasaagree- 3 ment. 9 ll, n For and in consideration of the prompt payment by Lessee, when due, of all rents as herein provided, and further for and in consideration of the full and timely performance by Lessee of all of Lessee's duties and obligations in strict compliance with the covenants, conditions and agreements herein contained, City hereby demises and leases to Lessee, and Lessee hereby accepts from City, the following described real property for the term and uses and subject to the conditions set forth herein: TAT 21, BL= 9, 1A E WORTH W.AZE SGIi'GEY�y giCA IL TERM The term oft e 119 s all be 50— years commencing'" �58 and ending The City may offer five (5) year extensions to the term of the lease on each fifth anniversary of the lease. The Lessee may refuse such extension by giving notice to the City, in writing, within sixty (60) days after receipt of notice of any extension. IM ILIPSSEE'S RIGHTS AND OBLIGATIONS Lessee shall: A. pay annual rent to the City of Fort Worth in the sum of S 752*()0- - _, said rent payable in lZ equal installments, one such installment due on the first of each month. B. pay the rent due under this lease to the Assessor -Collector of Taxes for the City of Fort Worth, or other office designated by the City. C. pay rent for each year after the first year in an amount that shall be adjusted by eighty percent (805a) of the change in the annual average of the Consumer Price Index U.S. City Average, "all items" index, all urban consumers (CPI-U) from the annual average for the previous calendar year, as published by the Bureau of Labor Statistics for the United Slates Department of Labor, said adjustment to be computed by dividing the CPI-1J for the most recent year by the CAI-U for the immediately preceding year, subtracting one (1) from that quotient, multiplying that result by eight -tenths (0-8), adding one (1) to that product, and multiplying that sum by the rent for the previous year. D. be able to use the leased land for residential and water recreational purposes, in compliance with applicable zoning ordinances. E. use and occupy the leased land, in compliance with the laws of the United States of America, the statutes of the State of Texas, and the Charter and Ordinances of the City of Fort Worth, whether now in effect or hereinafter adopted so long as any hereinafter adopted ordinance or charter provision is not adopted solely for the purpose of limiting the rights of Lessee and similarly situated Lessees. F. accept the premises in their present condition as being suitable for all purposes of this lease. G. be deemed to be an independent tenant in possession of the premises and responsible to all parties for his acts and omissions with regard thereto, and the City shall in no way be responsible for any act or omission of the Lessee. H. indemnify, hold harmless and defend the City, its officers, agents, and employees, from and against any and all claims for damages or injury, including death, to persons or property arising out of or incident to the leasing or the use and occupancy of the leased land by Lessee, his guests or invitees. 1, indemnify, hold harmless and defend City from and against any and all mechanic's and materWmen's liens or any other lien, claim or charge imposed upon the leased land or rising as a result of any conduct or activity by the Lessee or anyone on his behalf. J. provide and maintain suitable methods and means for the disposal of trash, body waste, and excreta, in com- plianec with applicable sanitation laws and ordinances. K. not drill or dig any well on the leased land without the prior written approval of the City nor use the water from such well until it has been tested and approved by the appropriate authorities. L. not commit, or allow to be committed, any waste on the premises, nor create or allow any nuisance to exist on the premises. M. not keep or permit any animals on the leased premises other than domesticated dogs and cats - TV. LESSOR'S RIGHTS AND OBLIGATIONS The City of Fort Worth shall: A. approve the sale, or assignment (hereinafter collectively assignment) of this lease or remaining term, provided that: 1. all amounts owed to the City hereunder and City ad valorem taxes are paid current to the date of such assign- ment: and 2. the assignment is evidenced in writing; and 3. in said assignment the assignee expressly accepts, assumes, and agrees to perform all terms, conditions and lirnitations to he kept and performed by Lessee under this lease; and 4, said writing is executed and acknowledged in recordable form; and 5, said assignment is submitted to the City at the City Manager's office or such other office designated by the City Manager.. Within 10 days of receipt of the assignment the City shall determine whether the assignment is in compliance with provisions A -I through A-5 above and notify both parties to said assignment if the assignment does not comply with those provisions, The City shall acknowledge compliance with the above provisions on the face of said assignment, and assignment shall then be recorded in the office of the County Clerk of Tarrant County, Texas, at Lessee's ex- pense. Compliance with the provisions set out above shall relieve the lessee from further liability under this lease, B. have the right to inspect the ]eased premises for compliance with City of Port Worth Minimum Building Stan- dards Code City Ordinance No. 8006,at the time of any sale or transfer. The City shall notify the purchaser or assignee in writing of any violations of said ordinance within 10 days of the submission of a proposed assignment to the City. The purchaser or assignee shall not be issued a certificate of occupancy by the City until the requirements of such or- dinance have been complied with. C, shall not convey, sell, or transfer its interest in the leased land without allowing the Lessee the opportunity to ac- quire the leased land unless the conveyance, sale, or'transfer is to a governmental entity with the power to condemn the property for the purpose it is acquired. All transfers shall be subject to the competitive bidding laws of the State of Texas and the ordinances and charter of the City of Fort Worth. D. provide yearly statements ofthe rent due hereunder and in such statement specify the number of years remaining in the term of this lease. E. have the right to enter upon the above described property at reasonable times and under reasonable cir- cumstances for the purposes of examining and inspecting the leased land to determine whether Lessee has complied with his obligations hereunder. This provision shall not be construed to authorize entry into residences or other buildings on the leased land except where such entry is specifically authorized by the provisions of this lease, the statutes of the State of Texas, or the ordinances of the City of Fort Worth. l:, warrant that Lessee will have quiet enjoyment and peaceful possession of the leased land, and that the City will defend the Lessee in such quiet enjoyment and peaceful possession during the term of this lease. G. The City Manager shall review this lease prior to each fifth anniversary and shall make recommendations to the City Council regarding extensions. V. LESSOR'S OPTIONS The City of Fort Worth may, in the event that Lessee shall give notice to the City that a financial hardship exists in the payment of rentals due hereunder, the City Manager may waive any portion of that year's rent after consideration, of said hardship. Lessee shall have the right to present his request to the City Council of Fort Worth should the City Manager deny the request. Any rents waived as a result of such hardship and remaining unpaid shall constitute a lien against the Lessee's im- provements and such unpaid rents shall bear interest at the current legal rate, VI. LESSEE'S OPTIONS Lessee may: A. sell, assign, or sublet this tease or remaining term thereof. 0. construct new structures and enlarge existing structures on the leased land provided that such construction is in accordance with all applicable City Codes and Ordinances. C. make alterations, remodel, and make improvements to existing structures and the leased land, provided that such actions shall be in accordance with applicable City Codes and Ordinances. p. terminate this lease without reimbursement for Lessee's structures and improvements at any time by giving the City 30 days notice of intention to terminate, VIL EXI°IRA'1CION OF VASE A. Upon expiration of the term of this lease the City shall pay to the Lessee an amount equal to the then market "altra Lf v,'y s:tia`4 U—.25 or i 7-,-,M Q F--f is l-vrri0fw1c nlacit or erected on the leased premises, except that payments for any new structure and enlargements to existing structures made or erected during the final 35 years of the lease term will be a pro rat& amount based on the number of years the structure or improvements are in place or the number of years remaining on the lease at the time said structure or improvements were made, whichever is greater, times 2.86 percent, never to exceed 100% of the market value of the new structure and the enlargement to the existing structure. B. Replacement of all or part of structures destroyed in whole or in part by fire, explosion or act of God are deemed Structures or improvements heretofore made or erected on the leased premises. C. The City shall pay the Lessee the market value of the StructurCS and improvements as defined above upon possession of the property, Acceptance of the amount offered by the City does not forfeit Lessee's right to dispute the amount paid, nor shall any acceptance constitute a waiver of any legal remedy Lessee may have to determine market value. In the event that a court of competent jurisdiction determines that the amount paid to the Lessee by the City is in excess of market value of such structures or improvements, the Lesser shall promptly refund suchexcess to the City. 2. .0 VW, '1'ERWN,#,'1<TON OF LEASE A. In the anent the Lessee- 1. is in arrears in the payment of the rents, or other amounts agreed to b: paid under the terms of this lease; or r 2. has failed to perform any obligation under this lease, then the City may give notice to the Lessec of termina- tion of the lease by default, said notice to specify in detail the defaults upon which the termination would be based. In said notice the City shall demand that actions be taken within 45 days to cure the default or defaults upon which the termination is based or the lease shall be terminated. B. In the event of a default by Lessee, and said Lessee does not take action to cure the default within 45 days of the notice from the City,the lease may be terminated and the City shall have no dirty to reimburse the.Lcssee for struc- tures or improvements to the leased land. The Lessee shall have the right to remove said structure, improvements, and personal property within 90 days from the date of lease termination by default, and shall vacate the leased land at the end of said 90 days. All such property not removed within 90 days shall become the property of the City. 00 C. In the event rentals to be paid under the teens of this lease is not paid when due, an additional late penalty of jr. 1.516 per month shall be added to the amount due. D. Upon termination of this lease or expiration of the term of this lease, Lessee shall be entitled and authorized to remove from the premises all items of personal property belonging to Lessee not permanently affixed to the realty and all structures and improvements for which no relmburstmtat is made under the terms of this lease, 1X, MORTGAGES A. So long as no default exists under- the terms of this lease, the Lessee or any Assignee may mortgage his leasehold estate and improvements rdtuated thereon to secure a loan or loans of money actually made, or that will be made, or any extension or renewal of the same. B. Such mortgage or deed of trust shall be in every respact subjeet, sub,1orvi1-.nt And subordinate to all the conditions and covenants of this lease. C. In the event of a default that could result in the termination of this lease without reimbursement to Lessee for the improvements and structures on the Ieased land, the City shall give notice to the mortgagee as is required to he given to the Lessee, and said mortgagee shall have the right ib cure said default mud/or perform the terms and conditions of this lease, D. A mortgagee or trustee under a deed or trust shall have the same right and power to assign this lease, inc*unc• tioa with a trustee's 321C or transfer to satisfy Lessees obligation to a mortgagee, as does the I,essee under the terms of this lease. E. At any time the City is to pay the Lessee for structures or improvements on the leased land, the City shall give notice to each mortgagee of that payment,• ands said r6brigagee stiall have the right to receive payment for any outstanding obligation secured by iortgage or deed of trust on the leasehold and improvements. F. The City shall be required to give such notice only if the mgngggep has„ rk..wdting,. informed the City -of its irn terest and has supplied an address for said notice. XL OWNERSHIP UF',IMPRCIVEMIENT'S All structures and improvements situated on the leased land when this lease is entered into are, and shall continue to be, the property of the Lessee, and all improvements hereinafter made by the Lessee on the leased land shall be the property of the Lessee. XL 5IlCXF_9SORS IN INTERL�T A. In the,event of the death of a I.essae, his successors and estate shall succeed to his interest{under this Ica5e, And those entitled by law to succeed to the Lessee's interest in the lease shall continue io enjoy the rights and benefits hereunder of the deceased Lessee; B. In the event that the Lessee or his Assignee is adjudicated a bankrupt, said lerise may be assigned as provided above, and any Assignee shall assume the duties and liabilities as set out abovd. XH. VENUE Venue of any action brought hereunder shall lie exstusively in Tarrant County, Texas. XIIL NOTICE f A. Any notice required.under this lease; unless gtherwige,sp%ified, shall be,$aycn by depositing ip the United States Mail as certified mail, postage prepaid, addressed to the: 1. Lessee's or Assignee's at the addzesg Shown on this lease units• said Lessee,or Assignee has furnished to the City, in writing, instructions to Mail notices to another address; , . . 2. City Manager, of the City of Fort Worth, City Hall, Fort Worth; Texas; 3. Mortgagee at the address supplied to the City in writing for the mailing of such notice. „ XIV. CONC1 USION . This instrument represents the entire agreement between the parties concerning the leasing of the leased land and shall be binding upon and shall be'to the benefit of the parties herelo; their successors, assigns, and legal represen- Wives, and all prior leases, assignments, or agreements of any natuiit concerning the leased land or property situated thereon are superseded by the tet'Ttts of this Ieam. D at. art Worth, arrant County. Texas, this �� _ day of ,1.9ft1 3. AITEST. 010 rttAfy, A ROVED AS TO FORM AND lM AI lIty: �1' - �, City Attorney fv V/ STATE OF TEXAS § COUNTY OF TARRANT § CITY OF FORT WORTH f r Lessee (Y�Rf2t A p 91vtv0 GK,ES BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas, on this day personally appeared 1d zr - - known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same as the act and deed of the _ ` City of Fort Worth, a municipal corporation of Tarrant County Texas, and as / thereof, and for the purposes and consideration therein expressed and in the capacity therein atteedd GIVEN UNDER MY HAND AND SEAL OF OFFICE this - day of.ir,/ A.D.,198--2. t Notary Public in and for the State of Texas %NWCgmtttiSsion Expiro.__ STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas, on this day personally appcartd _ 'l rt RL.4 CI A A(IV c B UC X L E5 known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and con- sideration therein expressed. GIVEN UNDER MY HAND AND SEAL OF OFFICE this day of A,I). Notary Pub �p and for 2' the Srate of'I eex'as My Commission EExpirl.—S A. Return Recorded Documents to: Susan Tedder, AdminWrative Technician City or Fort Worth 1 Real Property 927 Trytor Street, Fort Worth TX 16102 : !iY OF FDRT ';lQRTti 9P RF - F'-7,�PFnTY; CITY OF F�+i;''�','OR�r� 'Gl F5 6 PN 1 40 '01 JnN 37 N9 1151 �y D2Q7.00$9$3 , CITY E-W REAL PROPERTY 001 927 TAYLOR ST -+ FT WORTH, TX 76102 W A R N I N G-THIS IS PART'OF THE OFFICIAL RE;CMD-=D 0 N 0 T D E S T R O Y I N❑ E X E D -- T A R R A N T C O U N T 'T T E X A S $ (1 $ A N N, E H E N D E R S 0 'N -- COUNTY CLERK 0 F F I C T'A L R E C E I P T T O: CITY FW REAL PROPERTY 001 4 RECEIPT.NO REGISTER RECD-BY PRINTED DATE TIMk; 201097561 DR2A LW 91/12/2001 08:15 INS'�1t1L1MENT k`EEC1? 1 D201008983 WD T O T A L; DOCUMENTS: 01 B Y: INDEXED TIME 20010112 06:15 CG F E E 5: 15.00 ANY PROVISION WHICH RESTRICTS THE SALE RENTAL OR USE OF THE DESCRIBED REAL PROPERTY BECAUSE OF COLOR OR RACE IS INVALID AND UNENFORCEABLE UNDER FEDERAL LAW.