HomeMy WebLinkAboutContract 60106-EC1Date Received: 12/16/2024
Time Received: 4:04 p.m.
Record Number: PN24-00210
City Secretary No.: 60106-EC 1
ESTOPPEL CERTIFICATE
December 17, 2024
Velocis Mercantile JV, LP ("Buyer")
c/o Velocis Management, LLC
300 Crescent Court, suite 850
Dallas, Texas 75201
Attn: Paul Smith
Benchmark Title Company ("Title Company")
2007 Randall Street
Dallas, Texas 75201
Attn: Alex Byars
Ladies and Gentlemen:
Reference is hereby made to that certain Public Property Easement Encroachment License
Agreement executed by and between The City of Fort Worth, a home rule municipal corporation of Tarrant
County, Texas (the "City"), and Mercantile Partners, LP, a Texas limited partnership, dated September 13,
2023, filed September 19, 2023, recorded under Clerk's File No. D223168735, Official Public Records,
Tarrant County, Texas (the "License Agreement"). All capitalized terms not otherwise defined herein
shall have the respective meanings ascribed to such terms in the License Agreement.
The undersigned (referred to herein as "City"), hereby acknowledges that Buyer has entered into
that certain Purchase and Sale Agreement (the "PSA") with Mercantile Partners, L.P., a Texas limited
partnership, under which the Buyer has agreed to purchase, and Owner has agreed to sell, subject to the
terms and conditions of the PSA, certain real property located at 4201 N Beach Street, Fort Worth, Texas
76137, being more particular described as parts of the J.C. McComas Survey, Mary Johnson Survey and
the Allen Bread Survey situated in the Tarrant County, Texas, as recorded in deed number D205377148
(the "Property").
City hereby certifies to the best of its knowledge as follows as of the date hereof:
1. The License Agreement is in full force and effect. Other than described above, there are
no amendments, modifications, supplements, arrangements, side letters or undertakings, oral or written, of
any sort with respect to the License Agreement.
2. The undersigned has the power and authority to execute this certificate without the joinder
of any other person or entity. The individual signing this certificate on behalf of City is fully authorized
and empowered to do so and to bind City to the matters set forth in this certificate.
3. Neither Owner nor the Property is in breach of any provision of the License Agreement or
of any rules or regulations promulgated thereunder, and no events have occurred that, with the provision of
OFFICIAL RECORD
Estoppel Certificate— License Agreement CITY SECRETARY page 1
4902-0246-4257v.2
FT. WORTH, TX
notice, the passage of time or otherwise, would constitute a breach of any provision of the License
Agreement or of any rules or regulations promulgated thereunder by Owner or the Property.
4. Construction of the private storm drain, sewer and water lines contemplated in the License
Agreement has been completed to the satisfaction of the City and is currently in use by Owner or another
third party.
5. City acknowledges that this certificate (a) may be relied upon by Owner, Buyer, Title
Company and their successors and assigns and any lender, credit rating agency, issuer, servicer or trustee,
in the event that any mortgage loan secured by the Property becomes subject to a securitization, and (b)
shall be binding on City and its successors and assigns.
[Signature follows below]
Estoppel Certificate — License Agreement Page 2
4902-0246-4257v.2
EXECUTED to be effective on the date signed by the City's Director of Development
Services Department
City:
CITY OF FORT WORTH
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By: Dalton Harrell (Pec 16, 202415:36 CST)
D. J. Harrell
Director, Development Services Department
Date: Dec 16, 2024
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Jannette Goodall,
City Secretary
Approved As To Form and Legality
Hye Won Kim
Assistant City Attorney
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.
Rebecca Owen (Dec 16, 202415:09 CST)
Rebecca Owen
Development Services Manager
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
Estoppel Certificate — License Agreement Page 3
4902-0246-4257v.2
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 appeared D.J. Harrell, 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 consideration therein expressed, as the act and deed of the City of Fort Worth, and in the
capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this 16th day of December,
2024
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Wendy Bearrslee (Dec 16, 202415:37 CST)
Notary Public in and for the State of Texas
o�PRvaoe/ WENDY L BEARDSLEE
a p Notary Public
• b[7 * STATE OF TEXAS
GGGVVVV Notary I.D. 13323719-3
9�oF My Comm. Exp. July 28, 2025 '
Estoppel Certificate — License Agreement
4902-0246-4257v.2
Signature Page