HomeMy WebLinkAboutContract 47646-RPL1CSC No. 47646-RPL1
RELEASE FROM PROMISSORY NOTE AND LOAN AGREEMENT
The CITY OF FORT WORTH, a home rule municipal corporation organized under the laws of the
State of Texas ("Lender"), acting by and through its duly authorized Assistant City Manager, and FWS
REALTY, LTD. ("Borrower") are parties to that certain Construction Loan Agreement dated April 4, 2016,
and filed in the City of Fort Worth records as City Secretary Contract No. 47646 (the "Agreement"), which
sets out terms for repayment of a loan in the original principal amount of $900,000.00.
In consideration of Borrower's full payment of the remaining loan balance of $626,125.24 due under
the Agreement, the receipt of which is hereby acknowledged, Lender has released and discharged and by
these presents hereby releases and discharges Borrower's indebtedness under the Agreement. Except as
expressly provided herein, execution of this Release from Promissory Note and Loan Agreement shall not
waive or release any obligations of the Borrower, which obligations shall remain in full force and effect.
The signatures below signify the binding intention of this release to benefit both the Lender and the
Borrower and their successors and assigns.
TO BE EFFECTIVE on this Q/ } day of August, 2024
BORROWER:
FWS REALTY, LTD.,
a Texas limited partnership
By:���
Title: r► ;�6(il.ai �
Date: I CJ�41
LENDER:
CITY OF FORT WORTH,
a home
%rrulle�mu)nicipal corporation
By:
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Date: 4
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ATTEST:
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Jannette S. Goodall �C
City Secretary KC
Date: Sep 10, 2024
APPROVED AS TO FORM AND LEGALITY:
Cavidze N'111 Ya
By: Candace Pagliara (Aug 27, 24 11:17 CDT)
Assistant City Attorney
Date: Aug 27, 2024
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX