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Home My WebLink AboutContract 36218-CA1 CITY SECRETARY CONTRACT NO _,3� ASSIGNMENT OF TAX ABATEMENT AGREEMENT This Assignment of Tax Abatement Agreement is made and entered into by and between HMH Lifestyles, L.P., ("Assignor") and Ralph Burket, ("Assignee") and the City of Fort Worth, ("City") RECITALS A. Sierra Vista L.P ("Sierra") and the City of Fort Worth, Texas (the "City") entered into that certain Tax Abatement Agreement ("Agreement") for Property Located 2913 Nara Vista Trail, Block F, Lot 30, Sierra Vista Addition ("Property") which is located in the Rolling Hills Neighborhood Empowerment Zone, such Agreement approved by the City Council of Fort Worth February 21, 2006, City Secretary Contract Number 34721 ("Agreement"): B. Pursuant to that certain Special Warranty Deed dated as of 04/09/2007 recorded under Tarrant County Deed Records, Sierra conveyed the Property to Assignor and Assignor acquired title to the Property which is the subject of the Agreement: C. Section 5 of the Agreement permits Sierra to assign all of its rights under the Agreement to HMH Lifestyles, L.P., without obtaining the prior consent of the City Council: D. Sierra assigned the Agreement to HMH Lifestyles, L.P. Assignor; such Agreement is dated 04/09/2007 City Secretary Contract Number 36218. E. Pursuant to that certain Special Warranty Deed dated as of 10/27/2008, recorded under Tarrant County Deed Records, Assignor conveyed the Property to Ralph Burket and Assignee acquired title to the real property which is the subject of the Agreement. F. Section 5 of the Agreement permits Assignor to assign all of its rights under the Agreement to Assignee, without obtaining the prior consent of the City Council: AGREEMENT NOW TI IEREFORI:. in consideration of' the mutual terms and conditions herein contained and other good and valuable consideration. the receipt and sufficiency of whiclh are hereby acknowledged. the parties hereby agree as follows: L Assignment. Assignor hereby ASSIGNS, TRANSFERS AND CONVEYS all rights. duties, obligations, title and interest under the Agreement to Assignee. �; 1 2. Acceptance. Assignee hereby accepts the Assignment granted herein, and assumes all of Assignor's rights, duties and obligations arising under the Agreement. 3. Effective Date. The effective date of this Assignment is 10/27/2008 ("Effective Date"). All rights, duties and obligations under the Agreement arising, accruing or relating to the period before the Effective Date are allocated to Assignor and all rights, duties and obligations arising, accruing or relating to the period thereafter shall be allocated to Assignee. 4. Release and Surrender of Assirg'Iflipri. Except as otherwise expressly set f6ith in this Assignment, Assignor will be discharged from any and all further obligations 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 prior to the Effective Date in its present condition. Assignor relinquishes any right to any improvements, fixtures or equipment on the Property. 5. Representations. Assignor represents, warrants and covenants with Assignee that as of the Effective Date, that Assignor is not in default under any of its obligations contained in the Agreement. 6. City of Fort Worth's Consent. City of Fort Worth hereby consents to this Assignment upon the terms and conditions set forth herein. Unless and until City of 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 of City of Fort Worth in seeking to enforce any provisions of the Agreement or this Assignment should not be deemed a waiver of rights or remedies that City of Fort Worth may have, or a waiver of any subsequent breach of the terms and provisions therein or herein contained. 7. Notices. Any notice given by any party to another party hereto must be given in the manner required under the Agreement. The addresses set forth below supersede any addresses for notices set forth in the Agreement. CITY OF FORT WORTH: City of Fort Worth Housing and Economic Development Department NF/ Program 1000 Throckmorton Fort Worth. Texas 76102 ASSIGNEE: Ralph Burket 2913 Nara Vista Trail I ort Worth. I c\a.s 761 19 ASSIGNOR: HMH Lifestyles, L.P. 9001 Airport Freeway, Suite 400 North Richland Hills, TX 75180 8. Successors. Except as herein otherwise provided, this Assignment will be binding upon and inure to the benefit of the parties, and their respective heirs, executors, administrators, successors and assigns. 9. Counterparts. This Assignment may be executed in multiple counterparts, each of which, once executed, will be an original and fully-binding on the parties so executing; and all such counterparts together constitute one and the same agreement. 10. Binding Offer. This Assignment will be not be binding until executed and delivered by all three parties. IN WITNESS WHEREOF, the parties have executed this Assignment as of the date first above written. ASSIGNOR: HMH Lifestyles, L.P. Name: Title: ant Secretary ASSIGNEE: Ralph Burket Name: Ra ph Burket CITY OF FORT WORTH Susan Tanis Assistant City Manager � h 0,000000 ATTEST: ° °� �po°a �aCity Secretary 00000OU00 .4y 'd d� APPROVED AS TO FORM AND LEGALITY: If A.4 Y Charlene Sanders Assistant City Attorney M & C: C-21313 4 STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Susan Alanis, Assistant City Manager of the CITY OF FORT WORTH, a municipal corporation, known to me to be the person and officer whose name is subscribed to the foregoing instrument, and acknowledged to me that the same was the act of the said CITY OF FORT WORTH, TEXAS, a municipal corporation, that she was duly authorized to perform the same by appropriate Mayor and Council Communication of the City Council of the City of Fort Worth and that she executed the sarne as the act of the said City for the purposes and consideration therein expressed and in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this ._)_f�_ day of 12011. o ary Public in and for s r I_ mOA h' �iHrs�ENG�R I the State Of Texas PAY COMM,a_IGN EXPIRES Fin;,ry 2,2014 1 STATE OF TEXAS § COUNTY OF TARRANT § BEFORE_ ME, the undersigned authority, on this day personally appeared of HMH Lifestyles, L.P., a Texas limited partnership, 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, in the capacity therein stated and as the act and deed of the !IN!!! Lifestyles, L.P. a Texas limited partnership. GIVEN UNDER MY HAND AND SEAL OF OFFICE this j�� day of 2011. 4- JILL BARFIELD No,ary Public,state of Texas Nota6 iublic in and for ! = M Commission Y Expires %F° the State of Texas �_��" March 25, 2012 STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Ralph Burket, 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, in the capacity therein stated. 9IVEN UNDER MY HAND AND SEAL OF OFFICE this � Y da of �? 7 �oj). SARAH J.ODLE Notary Public in ang for _': '= MY COMMISSION EXPIRES the State of Texas' November 5,2011 s / f .t,. 6