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Home My WebLink AboutContract 39288-CA1 (2)CI`TY S�CR�T'�4RY � _ ��WT�3A�°T i�(�. �, - _.,_ ' , ASSIGI�TMENT OF TAX ABATEMENT AGREEMENT This Assigntnent of Tax Abatement Agre�ment is made and entered into by and between .lulie Truong, {"Assignar"} and Diaina Truang, ("Assignee") and the City of Fort Worth, ("City"} RECITALS A. Vt�aterview Estates, L.P., Pa�rs Investment, Inc., General Partner {"Waterview") a�d the City of Fort Worth, Texas {the "Gity"} enter�d into that ccrtain Tax Abatement Agreement ("Agreement"} fa�r Property Located 5409 Grenada Drive ; Lot 33; Block 1; Waterfront at Enchanted Bay; an Addi�ion f� the City of Fort Worth, Tarrant Counfy, Texas, according to the plat recorded and f led in Cabinet A; Slide No. 11723, Plat Records, Tarrant Caunty, Texas {"Praperty") which is located in the Lake Arlington Ncighborhood Ernpowermant Zone, such Agreement approued by the City Council af Fort Worth November 6, 2007, Ciiy Secr�tary Contract Numbe� 3696I ("Agreeme�t"): B. Pursuant io that certain S�ecial Warranty Deed dated as of 12/06/2007, recorded under Tarrant County Deed Recards, Waterview canveyed the Property fio Assignor and Assignox acqui.red title to the Property which is the subject of the . Agreement: C. Section 5 of the Agreement permits Waterview ta assign all o£ its rights under the Agreement tn Woodhaven Custom Homes, L.L.C. ("Woodhaven"), without obtaining the prior consent o��he Gity Council: D. Waierview assigned the Agreement �o Woodhaven Assignor; such Agreement is dated 121�6/2007 City Secretary Gontract Nurnber 38725. E. '`Noodhaven assign�d the Agreement to Julie Truong Assignar; such Agreement is dated 02/29/2008 Cify Secre#ary Contiraet Number 39288. F. Pursuant to that certain Special Warranty Deed dated as of 04/14/2010, r�corded under Tarrant County Deed Recozds, Assignor conveyed the Property to Diaina Truon� and Assignee acquired t3tle ta the real property which is t�e subject vf the Ag�reement. G. Section 5 of the Agreernent permits Assignor to assign all of it� rights under the Agreernent to Assignee, without obtaiYung the priar consent of the Cxty Council: �' �i .' ' ! ,, � : . _ . . 1� �. � � ��r�►��` �"'� '��IR4'�4_ i4P AGREEMENT NUW THEREFORE, in consideration of the mutual terms and conditions herein contained and other good and valuable considerafion, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agre� as foilows: 1. Assi�nment. Assignor hereby ASSIGN�, TRAN�FERS AND C�NVEYS a�l rights, duties, abligations, title and interest under the Agreement to Assig�ee. 2. Acceptance. Assignee hereby accepts the Assignm�nt granted herein, and assumes all of Assignor's rights, dufiies and obligations arising under the Agreement. 3. Effective Date. The effective date of this Assignment is 04/14/2010 ("Effective Date"). All rights, duties and obligations under ihe Agreement arising, accruing or xelating ta the pexiad before the Effective Date are allacated to Assignor and all rights, duties and obligation� arising, accruing or relating to the period tk�ereafter sha11 be allocated to Assignee. 4. Release and Surrender af Assi�nar. Except as otherwise expressly set forth in this Assignment, Assignar wiIl be discharged from any and alI further obligations under the Agreement as vf the Effective Date. Assignar must surrender �he Property to th� Assigne� on or b�fare 11:59 p. m. on the date prior to the Effective Date in its present candition. Assignor relinq�ishes any right to any improvements, fi�tures ar equipment on the Property. 5. Representations. Assignor represents, warrants and covenants with Assign�e that as of fhe Effective Date, that Assignor is not in default undex any of its obligations cantained in the Agreement. 6. City O� FOl'� WQI'k]3's Cansent. Cify of Fork Workh hereby cansents to this Assignment upon the terms and conditions set forth herein. Unless a�d utatil Cifiy oi Fort Worth has executed this Assignment, this Assignment is of no effect the consent granted herein should not be construed as consent to any further assignment except as provided in the Agreement. The failure or delay af City of Fort Worth in seeking to enforce any provisions of the Agreement or this A,ssignment shauld not be deemed a waiver of rights or remedies that City of Fort Worth may have, or a waiver of any subsequent breach of tha terms and pravisions therein or herein canfained. 7. Notices. Any notice given by any party to another party hereto rnust be given in the manner required under the Agreement. The addresses set fox�h beiow superc�de any addr�sses for naticcs set forth in th� Agreement. 2 GITY OF FORT WORTH: �ity o� Fort W orth Housing & Econamic Development Department Neighborhood Empowerment Zone Program 1000 Throckmorton Fort Warth, Texas 76102 ASSiGNOR: ruiie Truong 6701 Ij az Drive Axlington, Te�as 76� 17-4975 ASSTGNEE: Diaina Tru�ng 5409 Grenada Drive Fort Worth, TeXas 7bl 19-8500 8. Successors. Except as herein otherwise provided, this Assignrnent will be binding upon and inure to tha benefit of the parties, and their respective heirs, executars, adrninistratars, successors and assigns. 9. �Co�nterparts. This Assignment may be executed in mul�ipl� coun�erparts, each of which, once exeeuted, will be an original and fully-bi�ding an the parties so c;xacuting; and all such caunterparts togethe:r constitute one and the same agreement. 10. Bindin� Offer. This Assignment will be rrot be binding uz�hl executed and delivered by all three parties. IN WITNE�S V�HEREOF, the parties have ��ecuted ihis Assignment as of the date first above written. ASSIGN�: Signature: ASSIGNEE: Diaina Truong � � Signature: > � 3 CITY QF FORT W�RTH ��..�.---- .(�.�� susan �S Assistant City 1Vlanager ATTEST: �_ f � Mart� Hendrix, City cretary APPROVED AS TO FORM AND LEGALITY: � _ � �� Charlene Sanders a� � Assistant City Attorney M & C: C-22514 _ _. _ ... ...�..._ 1�I0 M�c�; �d�QU��d1CD � ��a�l�ltb�_ �li�' S� � �T. �h'� _�' - a �.5 — .��.- n u �TATE OF TEXAS § COUI�TY OF TARRANT § BEFORE ME, th� undersi�ned authority, on this day personally appea�red Susan Alanis Assistant City Manager of the CITY OF FORT WORTH, a municipal corporation, known ta me to be the person and officer whose nam� is subscribEd to tlia foragoing insm�ment, and acknowledged to me that the same was the act af the said CITY QF FORT W�RTH, TEXAS, a munieipal corporation, that she was duly authorized to perform the same by appropriate Mayor and Council Comrnunicatian of the City Couneil of the City of F'ort Worth and that she executed t�e same as the act of the said City for the pu�poses and consid�ration therein expressed and in the capacity therei.n stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this ►� day of t�'jt � 1 • , 2011. o��V� � �.�,t► ublic in and for �� the State of Texas �:"��., . y LL. ^ .,�...,.A M. HiFtF�IIV[i� ,�; f 1N1� `� �:*s :*' MY Ca�IMIGSl4N �KP1R�S : z,�' �� February 2, 2t114 , � '�'��4f,ti .� s.�t+r.�maw+r�/A�� ,vs;,,�sw ��..s�. .. 5 STATE �F TEXAS § COUl�TY OF TARRAI�IT § BEFORE ME, t�.e undersigned autharity, on this day person.ally appeared Julie Truong, knowr� to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the �ame fox the purposes and consideration therein expressed, in the capacity tl�erein stated. �IVE� UNDER MY HAND AND SEAL �F aFFICE this .�,� day of � + � , 2011. —�� , _ .. � • ' � y�� _ � - - ` y ti,,_;�,.t _ � . - Notary Public in and for t�e Stafe of Texas � � ��'+ �� _ � h�#tP�i 6�ubl� r � �iA'�� G!� � ��ll� • � h!y Camm. �sp. 0�-2&11 � �.�.,�...,.....,.�...:�...:.,�a.:a..U,.r� STATE OF TEXAS § COUNTI' OF TARRANT § B�FORE ME, the undersigned authority, on this day personally appeared Dia,ina Truong, knawn to me �o be the person whose nam� is subscribed ta the foregoing instrument, and acl�owledged to me that he ex�cuted the same far the purposes and consideraiaon therein e�ressed, in th� capacity therein stated. , GIVFN UNDER MY HAND AND �EAL OF OFFICE this ^`F� day of �1 � , 2011. �r !r� � _ � /� � � � _ _ �. . � � - -t�, � Notary Puh�c in and for the State of Texas �� i�a�ry F't�bl;c � , � �` F��`A'C� �� i ��B � [�Y Comm. �P.4�2t3�11 � .,..��. �,.:�.,,,.��.�.�.�.�.�.�r.� 0 Ct7"Y ��T�� ` CON�'��C� �d� . �� ASSIGI�NIEliiT OF TAX ABATElVIEli1T AGREENIE�iT This Assignment of Ta�c Abatement Agteement is made and entered into hy and between Woadhaven Custom Homes, L.L.C., ("Assignar") and Julie Tru�ong, {"Assignee") and the City of Fort Worth, {"City"} RECITALS A. Waterview Estates, L.P., Pars 1n�estment, Inc., General Partner {"Waterview"} a�nd th� City of Fort Worth, Texas (the "City") entered into that certain Tax Abaternent Agreement ("Agreement") for Property Lacated 5�09 Grenada Drive; Lot 33; Block 1; Waterfront at Enchanted Bay; an Addition to the City of Fort Worth, Tarrant County, Texas, accoxding to the plat recorded and filed in Cabinet A; Slsde No. 11723, Plat Records, Tarrant County, Texas ("Property") which is located in the Lake Arlington Neighborhood Empovv�zment Zone, such Agreement approved by the City Council vf �'ort Worth November 6, 2007, City Secretary Con#ract Number � ("Agreement"}: B. Pursuant ta that certain 5pecial Waz�ranty Deed dated as of December �1 2007 recorded under Tarrant Cou�ty Deed Records, Waterview conveyed the Property to Assignor and Assignor acquired title to the Property which is the subject of the Agreement: C. Section 5 of the Agreeinent permits Waterview to assign all of its rights un�er the A�eement to Woodhaven Custom Homes, L.L.C. ("Woodhaven"), without obtaining the prior consent of the City Council: D. Watervi�w assigned the Agreement to Woadhaven Assignor, such Agreement is dated December �2007, City Secretary Cont�ract Number -_�� ; E. Pursuant to that certain Special Waz�ranty Deed dated as of February 29, 200$, recorded under Tarrant County Deed Records, Assigno:r conveyed the Property ta Julie Trunng and Assignee acquired title to the real prop�rty which is the subject af the Agreement. F. Section 5 of the Agreement permits Assignor io assign all of its rights under the Agreement to Assign�e, without nbtaining ihe prior consent of the City Council: AGREEMENT NOW THEREFORE, in consideration of the mutual terms an�d conditions herein contained and other good and valuable consideratian, tlze receipt an�� sut'ficiency afwhich are hereby acknovv3edged, �he parties hereby agree as fo2lows: f �4.+IFaae_. e+L��sl�slf�l� l ��s�� E �� ii � "r�'fil��il, "�`:-: 1. Assi�nment. Assignor hereby ASSIGNS, TRANSFERS AND CONVEYS all rights, duties, obligations, title and interest under the Agreement to Assignee. 2. Accebtance. Assignee hereby accepts the Assignment granted herein, and assumes all of Assignor's rights, duties and obligations arising under the Agreernent. 3. Effective Date. The effective date of this Assignxneni is ,�� -o��% ��, ("Effective Date"). All rights, duties and obligat�ons under the Agreemen.t arising, accruing or relating �o the period before fihe Effective Date are allocated to Assignor and all rights, duties and abligations arising, accruing or relating to the p�riod thereafter shall be allacated ta Assignee. � 4. Release and Surrender of Assi�nor. Except as otherwise expressly set forth in this AssignmEnt, Assignor will be discbarged from any and a�l furthe� obiigations under the Agreement as of the Effective Date. Assignor must surrender the Property to the Assignee on or before 11:59 p. m. on the date �riar io the Effective Data in its present condition. Assignor relinquishes any right to any improv�ments, fixtures or equiprnent on the Property. S. Re�presez�tations. As�ignor represents, waxrants and covenants with Assi�ee that as of the Effective Date, that Assignor is not in default under any af its obligations con�ained in the Agreement. 6. Citv of Fort Worth's Consent. Ci#y of Fort Worth hereby cansents �o this Assignm�nt upon �he terms and conditions set forth herein. Unless and until Ci�y of Fort Worth has executed this Assignment, thi.s Assignment is of na eff�ct the consent granted herein should not be construed as consent to any fiirther a5signment except as provided in the Agreement. The faiZure or delay of City of Fort Worth in seeking to enforce any pravisions of the Agre�nent or this Assignment should not be de�med a waiver of rights or remedies that City af Fart Workl� may have, oz a waiver af any subsequent breach of the fierms and provisions therein or herein contained. 7. Notices. Any notice given by any party to anathex parfy hereto must be given in the maruler required under t11e Agreement. The addresses set forth below supercede any a,d�iresses for no�ices set forth in �he Agreem�nt. CITY OF F4RT WORTH: City o�Fort Warth Housing & Economic Development Departmeni NeigYiborhooc� Empowermen� Zone Program 1000 Throckmorton k'ort Worth, Te�as 7f 102 ASSIGNOR: Woodk�aven Custom Homes, L.L.C. 1221 N. I 35E Carrolltan, Texas 75006 A55IGNEE: Juiie Truong �409 Grenada Drive Foz-k Worth, T�xas 76l 19 8. Successors. Except as herein otherwise provided, fhis Assignment will be binding upon and inure to the benefit of the parties, atad their respect�ve heirs, executors, administrators, suceessars and assigis. 9. Counternarts. This Assigt�ment may be executed in multiple counterpaz'ts, each of w�ich, ance executed, will be an original a�nd ful�y-binding on the parties so ex�cudng; and all such counterparts together constitute one and the same agreernent. 10. Bindin� Offer. This Assignment will be not be binding u�til executed and delivered by all three parties. IN 11VITNE5S WHEREOF, the parties have executed this Assignment as oi ttze date first above writte:n. ASSIGNOR: Waodhave Homes, L,L.0 ' � �' . ; �, �� _. ' _ {' �Name: Mark Johtas `��., Title: Vice President ASSIGNEE: Julie Troung Name� lie Troung CITY OF FORT WORTH . , T.M. H�,��ins � Assistant City Mana�er ATTEST: �� : �=-� " �. - C Sec � � �° ty r t�y ► ►:�i�;Zel�l�.7.R��•��L•]��.��-��Le�.T�� "� � �� Charlene Sanders Assistant City Attorney M & C: C-22514 .�f --� � � � �; �'��' � STATE OF TEXAS � COUNTY UF TARRANT § BEFORE ME, �he undersigned authority, on thi.s day personally appeared T.M. Higgins, Assistant City Manager of the CITY OF FORT WORTH, a municipal eorporation, known to m� to be the person and officer whose name is subscribed to the foregaing instn�ent, and acknawledged to me that the saxne was the act of the said CITY OF FORT WORTH, TEXAS, a municipal corparation, that h�; was duly authoriz�d to p�rform the same by appropriate Mayor and Cauncil Cammw�i cation of the City CounciJ. of fihe Cify of Fort Worth and that he execu�ed the saxne as the act of the said City for the purpose� and consideration therein expressed and in the capacity therein stated. -, G VEN UNDER . r. � � 4 `� � , � � No y Puhlic in and for the State of Texas MY HAND AND SEAL OF OFFTCE this �� day o£ , 2009. .� i�, 4� �` i �s�`"p�,,, MR�SIA 5. SANGH�Z ' � �� NOTAftY pUBLIC �� STAT� OF iEX,4� = �"'� ak �� My Cnmm. �aCp.12-14-2009 �' ■�. e .. ��, � . � i , . , � 5TATE OF 'TEXAS § CQUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Mark Johns, Vice President o#' Waodhaven Custom Homes, L.L.C., known to rne ta be tl�e person whose name is subscribed to the fo:regoing instrument, and acknawledged to me that he executed the same for the purposes and consid�ration therein expressed, in the capacity t,�erein stated and as the act and deed of the Woadhaven Custom Homes, �,.L.C. a Texas limited liability cornpany. 4 GIVEN UNDER MY HAND AND SEAL OF OFF�CE this 29t1� day of Febr�ary, 2�j0$. �1 . Notary'Public in and ttze State of Texas / STATE OF TEXAS � COUNTY OF TA�RAIliT § . 1 YA� �)`� : ��w , ,� � � a ,� •' * . , ; � ��` - �,�200q `�`�. ►Ililil11111��\ BEFORE ME, the undersigned authority, on this day personally appeared Julie Troung, known to me to be the person whose name is subscribed to the foregoing instrumen�, and acknowledged to me that he executed the same for the purpases and consideration therein expressed, in the capacity therein stated. GIVEN UNDER rt: ��a � 1 ` � ! Notary ublic in and the State of Texas r � • �V✓ AND SEAL OF OFFICE this 29 day of February, _..udi F; i i i i i r ii, l�c . J � 4 ��