HomeMy WebLinkAboutContract 45270 r�-'T)NTMCT
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CONTRACT OF SALE AND PURCHASE
(Sale by City of fort Worth)
THIS CONTRACT OF SALE AND PURCHASE HASE "Contract" is made and entered into
by and between the CITY F FORT" WORTH, TEXAS, a home rule Municipal Corporation of
the State of Texas, acting by and through its duly authorized City Manager or Assistant City
Manager "`Seller"` and James D. Finley (collectively, "Purchaser") as of the date on which this
Contract is executed by the last to s,ign of Seller and Purchaser ("Effective Late").
RECITALS
1 Seller is the owner of a 30.512 arc Parcel of land out of the A. Van Nordstrand Survey,
Abstract No 1583, and the J. Foote Survey, abstract No. 534, Fort Worth, Tarrant
County, Texas, together with any casements, rights-of-way, licenses, interests. 'and rights
appurtenant thereto (collectively, t he "'Property"), as shown and more particularly
described on the attached Exhibit"'A" incorporatea herein for all purposes.
2 The Property is within 5,0100 feet of the shoreline of where Lake Worth's shoreline would
be if it were filled to its storage capacity.
3. Purchaser is the current lessee of the Property pursuant to a lease between Purchaser and
Seller dated March 7, 2013 (the Lease"); and
4. Purchaser desires to purchase the property and Seller desires to sell the Property for fair
market value to Purchaser urchaser in accordance with Texas Local Government Code 272.001(h).
AGREEMENT
In consideration of the mutual covenants in this Contract, Seller and Purchaser agree as
follows
Section 1. Sale and Purchase.,
ase.
(a) Seller agrees to sell and convey the Property to Purchaser, and Purchaser agrees to
purchase and accept the Property from Seller, for the .Purchase Price as defined below), subject
to the terms and conditions set forth in this Contract.
(b) Seller shall convey tie Property to Purchaser free and clear of all liens, claims,
easements, rights-of-way, reservations, restrictions, encroachiments, tenancies, and any other
encumbrances (collectively, the "Encumbrances") except the l rIC1.rn1bran.ces appearing in the
Title Commitment as defined below in Section and the survey as defined below) that are not
cured and that are subsequently waived pursuant to Section 3 below ("Pernl,.itted
Encumbrances"). The Lease shall be terminated upon Closing was defined below).
(c) Seller shall retain all. mineral interests irk 1�e tiller waives and conveys
to Purchaser the right of ingress and egress to are from t I N e Property relating to the
CIV SECRETARY
CFW Sale to.James D. Finley
Page 1 of 40
REC I
portion of the mineral estate owned by Seller including, without limitation, the right to enter
upon the Property for the expIloration and/or removal of oil, gas and mincrals, and the right to
place or maintain any structures,, i,mprovements, equipment or pipelines in, on, Linder or across
'the Property or on the surface oil N the Property. The provisions of this Section l ) shall be
incorporated into the Deed.
(d) Purchaser shall use best management practices of the Property to preserve the
water quality of Lake Worth. This provision shall survive Closing of the Property.
(e) To protect the public health, safety or welfare and to, ensure an adequate
municipal water supply, the Property, is not eligible for and Purchaser is not entitled to the
exemption provided by Section 11.1.42(a), Water Code relating to the storage of water in a dam
or reservoir.
Section 2. Indepen,dent Contract Consideration, Purchase Pries and Earnest M
lee,
(a) Contemporaneously with the execution of this Contract, Purchaser delivers to
feller a check in the amount of Fift I
I y and 00/100 Dollars ($50.00) as Independent consideration
or Seller's execution, delivery, and performance of this Contract ("Independent Contract
Consideration"' This Independent Contract Consideration 'is in addition to and *independent of
any other consideration or payment provided for in this Contract, is non-refundable, and shall be
retained by Seller notwithstanding any other provision of 'this Contract. The Independent
Contract Consideration shall be applied to the Purchase Price at Closing.
(b) The purchase price ("Purchase Price") for the Property, payable by Purchaser to
Seller in cash at closing I I
I g (defined below), is Nine Hundred F' teen Thousand Three Hundred
Sixty Doillars and 001/100 ($915,360-00). Seller has obtained an appraisal of the Property and has
determined that the Purchase Price reflects the current fair market value of the Property. Any
easements retained by the City will be at no cost to the City.
(c) Within three (3) business days after the execution and delivery of this Contract by
Seller and Purchaser, Purchaser shall deliver to the Title Company of Purchaser's choice ("'Title
Company") a check payable to, the order of Title Company in the amount of
ONE THOUSAND AND NO/100 DOLLARS ($1,000.00) (""Earnest Money"), which Earnest
Money shall be held in escrow and delivered by Title Company in accordance with the
provisions,of this Contract.
Section 3. Title Commitment and Survey.
(a) Within thirty (301) days after the Effective, Date, Purchaser may obtain, at
Purchaser's sole cost and expense (i) a Commitment, for Title Insurance and Title Policy ("Title
Commitment") from the Title Company, setting 'forth the status of the title of the Property and
showing all Encumbrances and other matters, if any, relating to the Property; and a legible
copy of all documents referred to in the Title Commitment, including but not limited to, plats,
reservations, restrictions", and easements.
I*
CFW Sale to James D. Finley P,acre 2 of 40
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Within twenty-five (25) days after the Effective Date, Purchaser shall obtain, at
Purchaser's sole cost and expense, an updated survey ("'Survey"') consisting of a plat and field
notes describing the Property, prepared pursuant to a current on-the-,ground staked survey
performed by a registered public surveyor or engineer satisfactory to Purchaser and Title
Company. The Survey shall (0 be certified to Purchaser, its successors and assigns, and Title
Company, (11), reflect the actual dimensions of and the total number of square feet within the
Property, net of any portion thereof lying within a publicly dedicated roadway or a utility
easement, (iii) 'Identify any rights-of-way, easements, or other Encumbrances by reference to
applicable recording data, (iv), 'Identify a 30 ft., access easement from Seller to Purchaser across
Seller's adjacent property for Purchaser's use to construct and maintain a driveway to Caholba
Drive, (v) identify a temporary construction easement on the untreed/open area on the western
side of the property on Cahoba Drive for the construction of a recreation trall on Seller's adjacent
property, and (vi) 'Include the Surveyor's registered number and seal, and the date of'the Survey.
The description of the Property prepared as a part of the Survey will be used in all of the
documents set forth in this Contract that requires a legal description of the Property.
(c) If the Title Commitment or Survey discloses, any Encumbrances or other matters
that are not acceptable to Purchaser in Purchaser's sole discretion, then Purchaser shall give
Seller written notice thereof within fifteen (15) days, after receipt of the Title Commitment,
Survey and all documents referred to in the Title Commitment, specifying Purchaser's objections
("Objections"), if any. If Purchaser gives such notice to Seller, Seller shall use its best efforts to,
cure the Objections, but shall be under no obligation to do so.
(d) If Purchaser gives notice of Objections and Seller does not cure the Objections,,
cause the Title Commitment and Survey to be amended to give effect to matters that are cured,
and give Purchaser written notice thereof within the fifteen (15) day period following receipt of
'the notice from Purchaser ("Cure Period"), Purchaser shall have the right either,
(i), to terminate this Contract by giving written notice thereof to Seller at any time
after the expiration of such Cure Period but prior to the expiration of the option
period (as defined below), and, upon such termination, Purchaser shall be entitled
to, the return of the Earnest Money, and neither party hereto shall have any further
rights or obligations, or
(11) to waive the Objections and consummate the purchase of the Property subject
to the Objections which shall be deemed to be Permitted Encumbrances.
Notwithstanding the foregoing sentence, if Seller has commenced curing the Objections and is
diligently prosecuting the same, as determined by Purchaser in Purchaser's sole discretion, then
Purchaser in 'Purchaser's sole discretion may extend the Cure Period for an amount of time
Purchaser deems necessary for Seller to cure the same.
Section 4. Review Reports. Within five 5) days after the Effective Date, Seller shall
deliver to Purchaser for Purchaser's review any environmental or engineering, reports and studies
in Seller's possession concerning the Property ("'Reports").
I "* 11
Section 5. Representations, Warranties, "As is
CFW Sale to ,James D. Finley Page 3 of 40
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RE SPONSIBILI TY OF PURCHASER, ,GA L ISSN OF WHETHER H.
ENVIRONMENTAL ROBLE E OWN OR UNKNOWN AT CLOSING,
ONCE CLOSING AS OCCURRED, PU RCHA S E I INDEMNIFIES, HOLDS
LDS
HARMLESS AND RELEASES SELLER FROM LIABILITY FOR ENVIRONMENTAL
PROBLEMS AFFECTING THE PROPERTY, INCLUDING, BUT NOT LIMITED TO,
UNDER THE COMPREHENSIVE E. IRO E rI AL RESPONSE,, COMPENSATION
AND LIABILITY IT ACT "CERCL ",, TH E RESOURCE CONSERVATION AND
RECOVERY ACT R CRA , "TIFF TEXAS SOLID WASTE DISPOSAL ACT OR THE
TEXAS WATER CODE, PURCHASER INDEMNIFIES, HOLDS HARMLESS ESS AN
RELEASES SELLER LER F OM ANY LIABILITY FOR ENVIRONMENTAL PROBLEMS
R CONDITIONS AFFECTING THE PROPERTY ARISING AS THE RESULT OF
SELLER'S OWN NEGLIGENCE OR THE NEGLIGENCE OF SELLER'S
REPRESENTATIVES,, BUT NOT ANY WILLFUL ACTS OR OMISSIONS OR GROSS
NEGLIGENCE OF SELLER OR SELLER'S REPRESENTATIVES. PURCHASER
INDEMNIFIES, OLI HARMLESS AND A LEASES SELLER. FROM ANY
LIABILITY FOR ENVIRONMENTAL PROBLEMS R CONDITIONS AFFECTING
THE PROPERTY ARISING AS A RESULT OF THEORIES OF PRODUCTS
LIABILITY AND STRICT LIABILITY,ILIA""'" , II UNDER NEW LAWS OR CHANGES T
EXISTING LAWS ENACTED F TE '" CONVEYANCE DATE THAT 'COULD
OTHERWISE IMPOSE ON SELLER IN THIS TYRE OF TRANSACTION NEW
LIABILITIES FOR ENVIRONMENTAL PROBLEMS R CONDITIONS AFFECTING
THE PROPERTY, PROVISIO NS F THIS SECTION SHALL SURVIVE THE
CLOSING. IT IS UNDERSTOOD AND AGREED SHAT THE PURCHASE PRICE HAS
BEEN ADJUSTED BY PRIOR NEGOTIATION TO REFLECT THAT ALL OF TIME
PROPERTY IS SOLD BY SELLER AND PURCHASED BY PURCHASER ECT TO
THE FOREGOING. PURCHASER R A CKN LEDGES AND ACCEPTS TS ,ALL THE
TERMS AND PROVISIONS BY HIS' ACCEPTANCE HEREOF,
h. The provisions of Section 5(a) shall he incorporated into the Deed.
C. The provisions of Section 5)(a) shall survive the closing as defined below),
Section 6. Option tw Period.
(a) Notwithstanding anything to the contrary contained .n Contract,
five (45) days after the Effective Date t1�n Pc r1�d"" � th.� ill��ring is a � }n+ditlon precedent
to Purchaser's obligations under this Contract:
Purchaser being satisfied in Purchaser's sole and absolute discretion that the
Property is suitable for P'urchaser's intended uses, including, without limitation,
Purchaser being satisfied with t. e results of the Tests (defined In Section 7
below).
(b) If Purchaser is not satisfied in P'urchaser's sole and absolute discretion as to the
condition precedent described in Section 6(a) above, Purchaser may give written notice thereof
to, Seller on or before the end o f the Option Period, whereupon this Contract shall terminate.
"� 40
CF� Sale to James D. Finley � � � I"
Upon such termination, neither party shall, have any further rights or obligations under this
Contract.
(c) The provisions of this Section 6 control all other provisions of this Contract.
.1
(d) The parties agree that the Option Period will not b ie extended upon ex
without a written amendment signed by both parties.
Section 7. Tests. Purchaser, at Purchaser's, sole cost and risk, shall have the right to
go on to the Property, including the Improvements, to make inspections, surveys, test borings,
soil analyses, and other tests, studies and surveys,, including, without, limitation, environmental
and engineering tests, borings, analyses, site assessments, and Studies ("'Tests). Any Tests shall
be conducted at Purchaser's sole risk and expense, and Purchaser agrees to indemnify and defend
Seller and the Property from any liens, and claims resulting from such Tests. The Property will
be restored by Purchaser to as near its original condition as possible at Purchaser's sole expense
following any site work. If this transaction does not close for any reason whatsoever, the
Purchaser shall release to Seller any and all 'Independent studies or results of Tests obtained
during the Option period.
Section 8. c osin Con In encieS.
(a); The closing ("Closing") of the sale of the Property by Seller to Purchaser shall
occur through the office of the Title Company in no more than (1 5) days after the satisfaction of
the following, contingencies to Closing ("Closing Contingencies"), but not later than February
281 2014. The Closing Contingencies are as follows:
(1) NONE
(b') Purchaser agrees to pursue the approvals and agreements described in the Closing
Contingencies above with reasonable diligence. Seller agrees to cooperate fully with Purchaser
in connection with Purchaser's pursuit of-the above approvals.
(c) If any Closing Contingencies are not satisfied to Purchaser's satisfaction so that
Purchaser is prepared to close on or before, than February 28, 2014, then Purchaser must
terminate this Contract, and upon the termination, Seller shall retain the Earnest Money and any
interest earned and neither party will have any further rights or obligations hereunder; however,
the Closing may be extended if the Closing Contingencies are not satisfied if agreed to in writing
by the parties.
Section 9. CIO
(a) At t,he Closing, all of the following shall occur, all of which are deemed
concurrent conditions:
(1) Seller, at Seller's sole cost and expense,, shall deliver or cause to be
delivered to Purchaser the following:
CFW Sale to James D. Finley Page 6 of 40
(1), A Special Warranty Deed ("Deed"), fully executed and
acknowledged by Seller, conveying to Purchaser good and
indefeasible fee simple title to the Property subj1ect to existing
easements,, rights-of way, and prescriptive rights, whether of
record or not, with the precise form. of the Deed to be determined
pursuant to Section 11 below;
I
A Lease Terminatn dcument signed by Seller, terminatng the
�uu)
Lease;
(ill) A 310 ft access easement 'from Seller to Purchaser across Seller's
adjacent property for Purchaser's use to construct and maintain a,
I * I
driveway to Cahoba Drive as ctepicied on the Survey; and
(I*v) Any other instrument or document necessary for Title Company to
issue the Owner Policy in accordance with Section 91(a)(3) below.
(2) Purchaser, at PUrchaser's sole cost and expense, shall deliver or cause to
be delivered to Seller.-
(i) Through the Title Company, federally wired funds or such other
means of funding acceptable to Seller, in an amount equal to the
Purchase Price, adjusted for closing costs and prorations,
(1i) A temporary construction easement from Purchaser to Seller on the
untreed/oplen area on the western side of the Property as depicted
on the Survey, for the construction of a recreation trail on Seller's
adjacent property; and
(ill) A Sewer Facility Easement in the form attached hereto as Exhibit
r%
(3,), The Title Company of Purchaser's choice shall issue to rurchaser,, at
Purchaser's sole cost and expense, an Owner Policy of Title Insurance ("Owner
Policy") "Issued by Title Company 'in the amount of the Purchase Price insuring
that, after the completion of the Closing, Purchaser is the owner of 'Indefeasible
fee simple title to the Property, subject only to the Permitted Encumbrances, and
the standard printed exceptions included in a Texas Standard Form Owner Policy
of Title Insurance.
(4) The Independent Contract Consideration shall be applied to -the Purchase
Price at Closing,.
(5) Seller and Purchaser shall each pay their respective attorneys' fees.
(6) Purchaser shall pay all recording fees and any other closing costs as set
forth by the Title Company.
CF W Sale to .James D. inlet' Page 7 of 40
(b), Ad valorem and simi
The address of Seller under this Contract is*.
City of Fort Worth With a copy to.,
1000 TI-iroc kmorton Street Leann D. Guzman
Fort Worth Texas 76102.0 's Office
1! Ci
Section 16. Ass' This Contract inures to the benefit of and is binding on the parties
and their respective, legal representatives, successors, and assigns. Any attempted assignment
4=1
shall be void.
Section 17. TI'me of the Essence. Time is of the essence under this, Contract.
Section 1, . Ta.kin2 Prior to Closi If, prior to Closing, the Property or any portion
thereof becomes Subject to a takincy by virtue of eminent domain Purchaser may, in Purchaser's
sole discretion,,, either (1) terminate this Contract and neither party shall have any further rights or
obligations hereunder, or (1i) proceed with the Closing of the transaction with an adjustment in
the Purchase Price to reflect the net square footage of the Property after the taking.
Section 19. Governing This Contract shall be governed b�y and co�nstrued in
Law.
accordance with the laws of the State of Texas.
Sectl'on 201. Performance of Contract. The obifigations, under the terms of the
Contract are performable in Tarrant County, Texas, and any and all payments under the terms of
the Contract are to be made in Tarrant County,, J,exas.
Section 21, Venue. Venue I,any action brought under this Contract shall be in Tarrant
County, Texas 'if venue is legally proper in that county.
Section 22. Several 111 If any, provision of this Contract is held to be invalid,
illegal, or unenforceable in any respect, such invalidity, *Illegality, or unienforceabill.ty will not
affect any other provision,, and this Contract will be construed as ' such invalid, 'illegal, or
unenforceable provision had never been contained herein.
Section 23. Busl*ness If the Closing or the day for performance of any act
required under this Contract falls on a Saturday, Sunday, or legal holiday, then the Closing, or the
day for such performance,, as the case may be, shall be the next following regular business day.
Seeflon 24. Counterparts. Th.1's Contract nay be executed in multiple counterparts,
each of'which will be deemed an original, but which together will constitute one 'instrument.
[,SINN RE APPEAR N THE FOLLOWING PAGE]
CFW Sale to James D. Finley Page 1 0 of 40
'Thi's Contract 'is executed as of the Effective Date.,
SELLER: CITY OF F WORTH, TEXAS
B y:
Assistant City Manager
T a I mlt
V0,R),14
Attest
Mary K, %
City Secretary
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D ate
DOE#
Approved as to Legality and Form
11 1A
1AV F V I
ssistant City Att'o&y
PU CH
i4es imn I e
OFFICIAL RECORD
Tw
wRJERD
Co
CITY SECRETARY
'TH TX
F WORTN9 TX
CFW Sale to James D. Finley Page I I of 40
By its execution below, '-fitle Company ackno�wledges, receipt of the Earnest Money described in
thi's Contract and acyrees, to hold and deliver the same and perform, its other duties pursuant to the
provisions of this Contract.
TITLE COMPANY:
By*
Name:
"rte;
Date:
Phone
Fax
CF W Sale to James D. Fmle y Page 1.2 of 40
EXHIBIT "A"
A
30.,E 12 acre parcel of land out of the A, Van Nordstrand Survey, Abstract No. 1584,
and the J. Foote Survey, Abstract No. 534, situated in Tarrant County, Texas, and being a
portion of Blocks I and 2, Lake Worth Leases, according to un-recorded plat File No. J-
175 on file at the City of Fort Worth Transportation & Public Work's Engineering Vault,
and. being a portion of that certain tract as conveyed t o t he City of Fort Worth by deed
recorded in Volume 350, Page 461, Deed Records of Tarrant County, Texas, and being,
more particularly described by metes and bounds as foillows,-
BASIS OF BEARINGS is the Fort Worth Integrated. G.P.S. Network System, N.A.Q. 83,
North Central Texas Zone, distances shown hereon are ground measurements.
BEGINNING at a 5/8" iron rod set with aluminum cap stamped "C.F.W. SURVEY"' in
place of Lake Worth Boundary Monument (called monument No. 8 per Lake Worth
Boundary, Map filed under City of Fort Worth Transportation and Public Works File No.
F'-83) lying in the easterly line of that certain tract of land described as 114.692 acres in
the deed to Quebec 820 Partners L.P. recorded under Instrument Number 1 2050141458,
Deed Records of Tarrant County, Texas, being the southwest corner of'Summit, On The
Lake, Phase 2, according to plat recorded in Cabinet A, Slide 20431, Plat Records of
Tarrant County, Texas, and having surface coordinates of N= 61975109.08, E=
2298233.87;
THENCE North 89, degrees 51 minutes 18 seconds East along the Lake Worth boundary
line, the common line between said City tract and said Summit on the Lake addition, at
803.8,6 feet passing a 5/8" iron rod set with a red plastic cap stamped "CITY OF FT.
WORTH SURVEY DIVISION" 1'01r reference, (all 5/8" iron rods set so capped unless
otherwise noted hereon),, continuing in all 834.29 feet to a, 5/8" iron rod found with
aluminum cap stamped "C.F.W. SURVEY" lying in the curved west right-of-way line of
Quebec St. called 60.0' right-of-way per plat recorded in Voilume 388-184, Page 95, Plat
Records of" arrant County, Texas), from, said corner a brass disc found in concrete
stamped "Lake Worth Boundary Monument" (called monument No. 7 pier said File No.
F-83)bears North 8,9: degrees 51 minutes 18 seconds East, 2,079'.70, feet
THENCE southeasterly with said curve to the left having a radius of 1,113.1 feet
through a central angle of 07 degrees 1,0 minutes 48 seconds, an arc length of 139.48 feet
whose chord bears South 13 degrees 32 minutes 25 seconds East, a distance of 139.40
at the end
1 1 "C,F.W. SUR V EY"'
feet to a 5/8" iron rod found with aluminum cap stamped
of said curve;
THENCE South 17 degrees 07 minutes 40 seconds East along the westerly line of said
Street, 123.03 feet to a 518" iron rod set with aluminum cap stamped "C.F. . SURVEYJ,
said corner bears North 17 degrees 07 minutes 40 seconds West 10.16 feet from a 5/8,"
a -
iron rod reset with aluminum cap, stamped "CITY OF FT. WORTH SURVEY" at the
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE-EXECUTION VERSION 12.12-13
intersection of the westerly fine of said Quebec Street with the northwesterly right-of-way
line of Cahoba Drive (called 60.0' right-of-way per plat recorded under Cabinet A, Slide
5516, Plat Records of Tarrant County, "rexas);
THENCE southwesterly with said curve to the left having a radius of 235.0 feet, parallel
to and .3 0 feet northwesterly of the northwesterly right-of-way line of said Cahoba Drive,
through a central angle of 30 degrees 55 minutes, 05 seconds, at an arc length of 30.42
feet passing a 5/8" iron rod set, continuing in all an arc length of 126.81 feet whose chord
bears, South 51 degrees 49 minutes 012 seconds West,, 125.28 feet to a 5/811 iron rod set at
the end of said curve;
THENCE South 37 degrees 314 minutes 14 seconds West, parallel to and 310, feet
northwesterly of the northwesterly right-of-way line of said Drive 430.41 feet to a 5/8"
10
iron rod set at the beginning of a, curve having a radius of 284.0 feet;
THENCE southwesterly with said curve to -the left through a central angle of 39, degrees
43 minutes 40 seconds, an are length of 196.92 feet whose chord bears South 17 degrees
42 minutes 24 seconds West, a distance of 193.0 feet to a 5/8" iron rod set at the point of
a reverse curve having a radius of 173.97' 1'eet,-
THENCE southwesterly with said curve to the right through a central angle of 106
degrees 40 minutes 27 seconds, an are length of 323.90 feet whose chord bears, South 51
degrees 10 minutes 49 seconds West, a distance of 2791.10 feet to a 5/811 iron rod set at the
pint of a reverse curve having a radius of 5601.0 feet;
THENCE southwesterly with said curve to the left through a central angle of 57 degrees
16 minutes 50 seconds, an are length of 559.85 feet whose chord bears South 75 degrees
52 minutes 41 seconds West, a distance of 5316.82 feet to a 5/8" 'iron rod set at the end of
said curve;
THENCE South 47 degrees 14 minutes 16 seconds West, parallel to and 30 feet
northwesterly of the northwesterly right-of-way line of said Drive 589.30 feet to a 5/8"'
iron rod set at the beginning of a curve having a radius of 115.0 feet-,
THENCE northwesterly with said curve to the right through a central angle of 107
degrees 54 minutes 01 seconds, an arc length of 216.57 feet whose chord bears North 75
1 ,
degrees 39 minutes, 46 seconds West, a distance of 185.96 feet to a 5�/81" iron rod set at the
end of said curve-,
THENCE North 27 degrees 24 minutes 13 seconds West, 61.26, feet, to a 5/8" iron rod set
,at the beginning of a curve having a radius of255.0 feet-
THENCE northwesterly with said curve to the left through a central angle of 3,2 degrees,
34 minutes 40 seconds, an are length of 144.99 feet whose chord bears North 43 degrees
41 minutes 33 seconds, West, a distance of 143.04 feet to a 5/8" iron rod set lying in the
appro'ximate west line of said A. Van Nordstrand Survey and the approximate east line of
SALES CONTRACF FOR FINLEY CITY PROPERTY SALE-EXECIJI]ONI VERSION 12.1 .1
I
the Nancy Johnson Survey, Abstract No. 887, said corner hears North 00 degrees 01
minutes 015 seconds West, 35.461 feet from a 5/8" iron rod found with aluminurn cap
stamped C.F. . SURVEY" on the northerly right-of-way line, of said Cahoba Drive,,
THENCE North 00 degrees 01 minutes 05 seconds West with said approximate survey.
line,, 1,563 8 feet to a 5/8" iron rod reset with aluminum cap stamped "C.F.W. SURVEY"
lying In the Lake Worth boundary line, being the northerly line of said City of Fort Worth
tract, the southerly line of said 114.692 acre tract, from which a brass disc in concrete
stamped "Lake Worth Boundary Monument" -found (called Monument No,. 11 per said
File No., F-83, control monument) bears South 89 degrees 58 minutes, 35 seconds West
1.470.7 feet;
THENCE North 89 degrees 58 minutes 35 seconds East with said Lake Worth boundary
line, the common line between said City of Fort Worth tract and said 114.692 acre tract,
m It e14 F 1� i
432.50, feet to a 5/8" iron rod reset with aluinum cap Stamped v C. .W. SURVEY"
place of Lake Worth Boundary Monument No,., 101 (control monument),
THENCE North 00 degrees 01 minutes 05 seconds West with said Lake Worth boundary
line, the common line between said City of Fort Worth tract and said 114.692 acre tract,
631.80 feet to a broken concrete monument found, being the remains, of Lake Worth
Boundary Monument No. 9-,
THENCE North 44 degrees 44 minutes 14 seconds East with said Lake Worth boundary
line, the common line between said City of Fort Worth tract and said 114.692 acre tract,
798.58 feet to the PLACE OF BEGINNING, and containing 30.5112 acres, of land as
surveyed on the ground in June 2012.
INCLUDED HEREWIT H is a 20 foot wide ingress, and egress easement, being a 628
square foot parcel of land out of the A. Van Nords,trand Survey, Abstract No. 1584,
situated in Tarrant County, Texas, and being a portion of Blocks, I & 2,1 Lake Worth
Leases,,, according to unrecorded plat File No. J-175 on file at the City of Fort Worth
Transportation & Public Works Engineering Vault, and being a portion of'that certain
tract of land as conveyed to the City of Fort Worth by deed recur el in Volume 350,
Page 461, Deed Records of'Tarrant County, Texas, and being more particularly described
by metes and bounds, as follows,
BEG in the northerly curved righ-t-of-wayline of Cahoba Drive, having a,radius
of 530' (called 60.0' right-of-way per plat Cabinet A, Slide 5516, Plat Records of Tarrant
Frith 1 14
County, Texas) from which a 5/8" iron, rod found, ith aluminum cap stamped - C.F.W.
SURVEY" in said right-of-way line bears South 53 degrees 16 minutes, 35 seconds West,
a chord distance of 111.51 feet;
THENCE North 47 degrees 14 minutes 34 seconds West departing said right-of-way line,
31.22 feet to the northwest comer of herein described parcel lying in a curve having a
radius of 56,01.0 feet
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE-EXECUTION VERSION 12.12.13:
THENCE with said curve to the right through a central angle of 02 degrees 08 minutes 12
seconds, an arc length of 20.8,8 feet whose chord bears North 59 degrees 28, minutes 23
seconds East, a distance of 201.88 feet to the northeast comer of herein described parcel;,
THENCE South 47 degrees 14 minutes 34 seconds East, 311.610 feet to the southeast
comer of herein described parcel lying in the northerly right-of-way line of said Cahol1 a
I rive on a curve having a radius of 530.0 feet from which a 5/8" iron rod found at the
end of said curve bears North 83 degrees 03 minutes 06 seconds East, a chord distance of
387.92 feet-
THENCE southwesterly with said curve to the left through a central angle of 02 degrees
16 minutes 11 seconds, an arc length of 20.99 feet whose chord bears South 60 degrees
27 minutes 00 seconds West, a distance of 20.99 feet to the PLACE OF BEGINNING,
and containing 628 square feet of land as surveyed on the ground in.June of 2012.
Basis of Bearings: the Fort Worth Integrated G.P.S. Network System, 'N"A.D. 83, North
Central Texas Zone. Distances are ground measurements,
In accordance with the Texas Board of Professional Land Surveying, General Rules of
Procedures and Practices, ►613.19(9), This "report" consists of the hereon real property
descriptions, and a Map of Survey being attached herewith.
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE-EXECUTION VERSION 12,12,13
T
rA.U11131T "B"
Description of State Parcel
Being a 9.773 acre (425,700 square feet) tract of land, more or less,, situated in the Nancy
I
Johnson Survey, Abstract No. 887, Tarrant County, Texas, being all of that certain tract
of land described as Tract I and Tract 2 in, a deed to the State f
n P Texas and reco'rded,in
Instrument Number D205292577, D.R.T,C.T., said Tract I beii1g"Lot 2, Block 1, Cahoba
Business Addition, as filed in Cabinet A, Slide 5846, Plat Records, Tarrant Co"U'rity,
Texas (P.R.T.C.T.) said 9,773 acre tract being more particularly described by Metes" and
y
bounds as follows-,
Beginning at a brass cap in concrete stamped Lake Worth Boundary Monument'found, as
shown on the Lake Worth Boundary Maps, File F-83,, on file at the D6partm';ent of
Engineering of the City, of Fort Worth, on the north line of a tract of land to'"'th 0' 'City of
Fort Worth as recorded in Volume 350, Page 461, D,R.T.C.T, for the southeast 'comer of
said Tract 2 and being the most southerly southwest comer of said Lot 2, Block 1, from
which a brass cap in concrete stamped Lake Worth Boundary Monument found bears
South 89 ' 32"Eak, a distance of'X98.29' feet-1
1) Thence North 89'42" 32" West, along the south line of said Tract 2, a distance of
102.45 feet a 518, inch plastic capped iron rod stamped "TRANSYSTEMS
CORPORATION111 found for the southwest comer of said Tract "C", same being
the northeast n'ght-of-wiay line of' Cahoba Drive (a 610 foot n'ght-of-way) as
dedicated per plat recorded in Cabinet A, Slide 55116,, P.R.T.C.T. and being on a
curve to the left whose center bears South 62' 54' 2" West, a distance of 830.21
feet-,
2) Thence in a northwesterly direction along said curve to the left, same having a
central angle of' 22' 53' 17", a distance of 331.64 feet, and a long chord which
bears North 38,131'56"We,st, 329,44 feet, to a inch plastic capped, iron rod
stamped "TRANSYSTEMS CORPORATION" set for northwest comer of said
Tract 2, same being the most southerly southeast comer of Lot I-R, Block 1,
Cahoba Business Addition, as filed in Cabinet A, Slide 80104,P.,R.T.C�.T.-
3) Thence North 32' 53' 49" East, along the common northwest line of said Tract 2
and the,most southerly southeast line of said Lot 111, a distance of 36.73 feet to a
5�/8 'Inch plastic capped iron rod stamped "TRANSYSTEMS CORPORATIONII
found fog* the northeast comer of said Tract 2 and the most southerly cast comer
of Lot l- , Block 1, same being on a west line of said Lot 2, Block 1-
4), Thence North 44' 52' 00" West, along the common line of said Lot I-R and said
Lot 2, Block 1, a distance of 67,74 feet to a 5/8 'Inch plastic capped 'iron rod
stamped "TRANSYSTEMS CORPORATION"' found for the most northerly
southwest comer of said Lot 2, Block 1, same being a common interior comer of
said Lot 1-R, Block I;
SALES CONTRACT FOR F1 LEY CITY PROPERTY SALE-EXECUTION VERSION 12.12,13
5) North 320 53" 39"' East, along the common line of said Lot I-R and said Lot 2,
Bilo�ck 1, a distance of 12.74 feet, to a 518 'inch plasti"o capped iron rod stamped
"TRANSYSTEMS CORPORATION" found;
6) North 13" 06' 33"' West, along the common line of said Lot I-R and, said Lot 2,
Block 1, a distance of 156.33 feet to a 5/8 inch plastic capped iron rod stamped
"TRANSYSTEMS CORPORATION" found at the beginning of a curve to the
right whose, center bears North 76' 53' 27"East,a distance of 60�.00 feet;
7) In a northerly direction along said curve to the fight, same having a central angle
of 37' 45' 52"',, a distance of 39.55 feet and a long chord which bears North
05146'23"East, 38.83 feet to a 5/8 inch plastic capped iron rod stamped
"TRANSYSTEMS CORPORATION"'found for the end of said curve,
8) North 240 39' 1,9" East, along the common line of said Lot I-R and said Lot 2)
1 .
Block 1, a distance of 222,.04 feet to a 5/8 'inch plastic capped iron rod stamped
"TRANSYSTEMS CORPORATION" found on the southerly right-of-way line of
IH 8,20 (a variable width right-of-way), same being the northwest comer of said
of 2, Block I and -the northeast corner of said Lot I-R, Block 1, from which a
TxDOT Type 11 monument found bears South 7 1'08' 57"West 217.58 feet-,
11%
9) North, 71" 08' 57" East, along the north line of said Lot 2, Block I and said
0 11
southerly ngtit,of-way line, a distance of 82.97 feet to a 5/8 inch plastic capped
iron rod stamped "TRANSYSTEMS CORPORATION"found at the beginning,of
a curve to the left whose center bears North 18 50' 53" West,2,894.79 feet;
101),In a easterly direction along said curve to the left, same having a central angle of
040, 49' 19". a distance of 243.62 feet and a long chord which bears North
8"144'27" t, 243.55 feet, to a 5/8 inch plastic capped iron rod stamped
"TRANSYSTEMS CORPORATION" found for the northeast comer of said Lot
2, Block 1, same being the northwest,comer of Lot I Block 1,, Allen's Landi ng as
recorded in Cabinet A, Slide 4235, P.R.T.C.T.;
11)Thence South 2,51' 19" 17"East, along the common east line of said Lot 2, Block I
and the west line of said Lot 1, Block, 1, a distance of 396.95 feet to a 3 in metal
post found for the southwest corner of said Lot 1, Block 1;
12,)Thence South 25'2 1' f 5"East, continuing along the east I ine of said Lot 2,Block
I and the west line of a tract of land to Quebec 820 Partners, LP', recorded in
1
Instrument Number D205041458, D.R .C.T., a d'st an" ce of 552.22 feet to the
1, .TBlock, 1 and. the south comer ofsaid Qbec
southeast corner of said Lot 2, ue
st
1, 1 V,
820 Partners tract oeing in the north 'line of said City of Fort Worth tract, from
which a brass cap in concrete Lake Woilb Boundary Monument found bears
South 9'42' 32"Fast, a distance of 354.08 feet;
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE-EXECUTION VERSION 1 2.12.13
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EXHIBIT tfCof
STATE OF TEXAS §
§ KNOW ALL MEN BY THESE PRESENTS
COUNTY OF TARRANT §
RESTRICTIVE EASEMENT
THIS GRAN T OF EASEMENT, made -this day of January, 2013, by
James . Finley, hereinafter referred to as the "Grantor", to the City of Fort Worth
having an address of 1000 'I"hrockmorton, Fort Worth, Tarrant County, TX 761021
hereinafter"Grantee".
WITNESSETH:
WHEREAS, Grantor is the sole owner of-the fee interest in certain real property
in the City of Fort Worth more particularly described in Exhibit "A"' attached hereto and
0
incorporated by this reference the "Property"); and
WHEREAS, the Property is in the vicinity of the Naval Air Station Foi-t Worth
Joint Reserve Base "'Installation"), which is operated and used by the federal
government for military purposes-, and
WHEREAS, Grantee has requested an easement from Grantor in order to limit
development or use of the Property that would otherwise be incompatible with the
mission of the Installation;
NOW THEREFORE, in consideration of Six Hundred Thirteen Thousand and 00/100
Dollars ($613,000,00), the receipt and sufficiency of which is hereby acknowledged by
Grantor, and -the mutual covenants, terms, conditions and restrictions contained herein,
Grantor hereby grants and conveys, to the Grantee a restrictive easement (the "Easement")
over the Property, of the nature and character and to the extent set forth herein.
1. PU It is the purpose of this Easement to prevent any improvement,
development or use of the Property that would, otherwise be incompatible with the
mission of the Installation. This easernent will run with the land in perpetuity for the
benefit of the Installation and the USA and any future owners, as long as the property to
the south is used as an airfield
2. Rights of Grantee. To accomplish the purpose of this Easement, the following rights,
are conveyed to the Grantee by this Easement-.
a. All rights to development or use the Property that would encumber, impede,
limit or otherwise be incompatible, with the mission of the Installation and the
purpose of this Easement, including the right to prohibit any such development or
SALES CONTRACT FOR FINLEY UTY PROPERTY SALE-EXECUTION VERSION 12,12,13
use in its entirety, which Grantee hereby prohibits.
b. All rights, to the removal of any non-complying development or uses of the
Property pursuant to Section 6.
c. The right to enter upon the Property in a reasonable manner and at reasonable
times in order to monitor Grantor's compliance with the terms of this Easement or
0
at any time upon an event of non-compliance with the terms of this Easement to
6 a I Me at least
enforce the terms of this Easement, provided that Grantee will provi
five (5) days' notice of such entry to Grantor, except when there is a threat of
i mmine
nnt harm of personal injury or property damage. Grantee shall not
unreasonably interfere with Grantor's use and quiet enjoyment of the Property.
d. The right to grant or assign this Easement on the Property to any federal agency
'I
or department of the United States of America without prior written approval
from Grantor, provided that such grant or ass,ignme�nt will not enlarge the rights of
Grantee in the Property or impose any additional limitations on Grantor.
3. Restricted Uses and Dever pmeat ,Rights. Any activity or use of the Property,
inconsistent with the purpose, of this Easement is prohibited, including but not limited to
activity w
i *ty on the Property that would interfere or be injurious to the operations of an
any
11
airfield inciucting navigation and communications.
10 0
Without limiting the generality of the foregoing, and except as specifically permitted, the
following activities and uses are expressly prohibited-,
1. The erection, construction installation alteration or growing, whether public or
private, of any structure, building, antenna, tower, wire, tree or other obstruction,
whatever its nature, extending more than 50 feet above ground level (AGL) is
prohibited.
2. New construction of any structure or edifice, and, any other additions to, or
alterations of the Property on the easement without express written notice by
Grantor to the Installation and Grantee a minimum of sixty (90) days before
Grantor's 'intended construction start date.
3. Construction of any structure on the easement without the express written
authorization of Grantee, provided that any proposed improvements that meet the
requirements of this Easement shall receive a "Letter of''No Objection" from the
Installation and be approved by the Grantee.
4. The use of gas drilling equipment that might interfere with the operations of an
airfield witho'ut review and written approval by the Installation and Grantee.
5. Lighting that might interfere with the operations of an air-field. All lighting
equipment, to include floodlights and searchlights, and all protective lighting,
such as streetlights, shall have positive optical control so that no light is emitted
above the horizontal plane.
6. Human habitation, including, but not limited to temporary accommodations such
as cabins,, trailers, RVs, and tents.
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE-EXECUTION VERSION 12,12-13
7. Operations of' any type that produce smoke, glare or other visual hazards, or
encourage concentrations of birds, such as bird feeding stations, ponds (except as
otherwise allowed hereunder),, and mature crops left un-harvested, that may be
dangerous for aircraft operating from the Installation. Controlled bums for
agricultural purposes, habitat improvement and mitigation of fire hazards must be
agreed to n writing by all parties to this Easement prior to commencing said
activities. The burning of reasonable arnounts of yard debris is permitted without
prior noti*f
cation.
8. The division, subdivision or de facto subdivision of the Property; provided,
however, that a lease of a portion of the Property for an authorized use under this
Easement shall not be prohibited.
9. The use of motorized vehicles, except for in support of the authorized uses of this
Easement, for motorized emergency vehicles as needed, and for private non-
commercial recreational use of all-terrain vehicles.,
1 0
4. Grantor s Rights and Obligations.
a. Grantor reserves, to itself, and its heirs, successors and assigns, all rights
accruing from its ownership of the Property that are not expressly prohibited herein and
are not 'inconsistent,with the purposes, cif this Easement, 'Including but not limited to-,
(1) Construction and maintenance of uninhabitable structures for the
maintenance and protection of farm and ranch animals, and equipment only, at a
location of Grantor's, choice.
(2) Controlling predatory and problem animals by the use of selective
control techniques that meet all federal, state and local laws, regulations &
ordinances. .
(3) Construction of fencing reasonably necessary for the permitted
uses hereunder:.
(4) Establishing retention or detention ponds or impoundments to
ameliorate storm water runoff on or affecting the Property. Grantor, in
consultation with and with prior, approval of the Grantee, will be permitted to
create such storm water impoundments on -the Property, provided they are not
enhanced for the attraction of waterfowl. However, should the impoundments or
other improvements made attract such a concentration of birds to the extent that
they cause a training or operational hazard to the Installation, the Grantor, upon
the request of the Grantee shall modify the improvements to the extent required to
ameliorate the training or operational hazard created. Stich modification work
shall be at the sole cost of the Grantor.
(5) Agriculture and farming, passive recreational uses, and Silviculture
and Use of Natural Resources (as those terms are defined below).
10
A, 'Agriculture and Farr n=. "Agriculture and farming" means all
SAI.,,ES CONTRACT FOR FINLEY CITY PROPERTY SALE-EXECUTION VERSION 12.1113
methods designed to produce and manage crops,, and the farming activities
of feeding and housing reasonable numbers of farm animals, such as
cattle, goats, and horses, including, without limitation, the construction of
new (arid maintenance and, restoration of existing) structures for the
housing of farm animals or storage of farm equipment and not inconsistent
with the restrictions co i I I I
i nta ned in this Easement (Le. setbacks, height
limits, lighting, etc) or the purposes of this Easement., Commercial
poultry enterprises are specifically prohibited.
B. 'Passive Recreational 'Use., "Passive, recreational use" means all
non-public recreational activities (such as but not limited to hiking,
horseback riding, bird watching, fishing, hunting and camping limited to
the personal use by Grantor and Grantor's invitees), that require no surface
alteration or other development of the Property, and not inconsistent, with
the restrictions or the purposes of this Easement.
C. Silviculture and Use of Natural Resources. "Silviculture and
Use of Natural Resources" means all silvicultural and other exploitation of
the Property's natural resources including but not limited to timber,
harvesting to 'Include thinning and clearcutting of marketable timber),
mechanical and chemical site preparation, reforestation, and all other
activities, associated therewith provided such uses are not inconsistent with
(i) all applicable laws, regulations and ordinances or ('11) the restrictions or
the purposes ofthis Easement.
(6) To the extent allowed by law, non-commercial hunting by Grantor,
and Grantor's invitees.
b. Grantor must initiate rezoning of the Property to AG Agricultural within
3,0 days, of the date of this Easement. The Property must be rezoned AG Agricultural
within 180 days of the date of this Easement.
C. Use or development of the Property for agricultural uses within the
limitations of this easement shall follow water quality Best Management Practices.
5. Notiffication Provi*si'ons.
a. Notice of Intent to Undertake New Uses and Construction. Whenever Grantor
plans to undertake a new use or construction on the Property that requires a permit from
the City of Fort Worth, Grantor will notify the Grantee 'in writing by certified mail not
less than. ninety days, (90) prior to the date that Grantor 'Intends to undertake the activity
I
in question. The notice shall describe the nature, scope, design, local'on, timetable, and
any other material aspect of the proposed activity in sufficient detail to permit the
Grantee to make an rotor i-ned judgment as to its consistency with the purpose of this
Easement. Failure of'Grantor to give such notice shall be deemed a breach of the terms
of this A m gree
ent., Furthermore, should Grantor undertake to make any improvements to
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE-EXECUTION,VERSION 12.x.2,13
control stormwater runoff pursuant to paragraph 4 above, the provisions of this paragraph
shall apply.
b. Grantee"s oval. Within sixty (60) days of receipt of the request provided
by Grantor to Grantee under Section 5(a), the Grantee will grant or withhold its approval
in writing. Grantee's approval may be withheld only upon a reasonable determination by
the Grantee that the action proposed would be inconsistent with the purpose of this
Easement and the restrict-ions on the use of the Property 'Included herein.
6. Enforcement and Remedies. If Grantor breaches any terms, conditions, or
obligations created by this Easement, the Grantor shall be afforded ninety (90) days,
from the receipt of Grantee"s notice of non-co�mplane to cure the subject breach,
except where irreparable harm may result from any delay in curing a breach. Grantee
may grant a reasonable extension of time to complete the cure, if it is determined by
Grantee to be necessary. If the non-compliance is not cured within the ninety, (90) day
time frame or extension of time 'if granted by Grantee, Grantee may.-
a. Take necessary actions to correct the non-compliance and upon request by
Grantee, Grantor shall reimburse Grantee for its reasonable costs incurred to
correct the non-compliance,*
b. Institute mediation or other alternative dispute resolution strategy that is agreed
to by the parties;, and
c. Institute suit to enjoin any breach or enforce any term by injunction.
The Grantee's remedies shall be cumulative and shall be in addition to any other rights
and remedies available to the Grantee at law or equity. Enforcement of the terms, of this
Easement shall be at the discretion of the Grantee. No failure on the part of the Grantee
to enforce any term hereof shall discharge or 'Invalidate such term or any other term
hereof or affect the right of the Grantee to enforce the same in the event of a subsequent
breach or default.
7. Costs, and Liabilities. Grantor retains all responsibilities and shall bear all costs, and
liabilities of any kind related to the ownership and mai*ntenance of the Property.
8. Noise and Other Effects of'A,1*1,r 0 perations, It is acknowledged that the Property is
within the north Accident Potential Zone I of the Installation. As such, the Property will
be subject to effects related to the operation of an airfield. Grantor does hereby fully
waive remise, and release any right or cause of action which Grantor or its respective
successors and assigns, may have due to such noise, noise vibrations, fumes, dust, fuel
particles and all other effects that may be caused by the operation of aircraft from the
Installation. Grantor specifically does not waive but retain all rights to causes of action,
claims and rights to damages for any aircraft accident affecting the Property or persons
thereon, including physical damages such as window breakage, contamination from fuel
dumping, damage from falling aircraft components etc. Furthermore, this waiver is with
respect to operation of aircraft by or for purposes of the Installation. If the Installation is
closed, and the base is converted to private, non-military use, this waiver shall terminate.
SALES CONTRAC"I'FOR FINLEY CITY PROPER'TY SALE-EXECUTION VERSION 1 ,111
As used re r, the term "aircraft" shall mean any and all types of aircraft, to include, but
not limited to,, jet aircraft, propeller driven aircraft, civil aircra,11,1, military aircraft,
commercial aircraft, helicopters and all types of aircraft or vehicles now in existence or,
her,ea r developed, regardless, of ex,i'sti,ng or future noise levels, for, the purpose of
military trainihig, and/or transporting persons or property through the, air by whomsoever
owned or operated.
Slubseguent Transfers. Grantor agrees, to reference and 'incorporate the terms, of'thils
Easement in any deed or other legal 'instrument by which they divest themselves of any
4
interest in the Property, including a leasehold interest,. Grantor further agrees to give
written notice to the Grantee of the transf,'er at least 30, days prior to the date of transfer.
10. Term and Termination,
a. "I"'he term of this easement shall be 'in perpetuity,, subjject, to earlier
termination as allowed in this Easement.
b. If the property used by the Installation as of the date of this conveyance
ceases to operate as an airfield for any purpose, the Easement may betennin ate d upon the,
0
repurchase of the development rights from Grantee., its successors or assigns, by Grantor,
its heirs, successors or assigns,.,
1 ied, any notice,, approval or communi cation that
11. Notices. r",xcept as otherwise sipec*f
either party, 'is requi,rect to give in writing may be served personally or a" ed to.
/-I
r Fo urantor: James D. Finley
13108 Lake Street, Suite 200
For Worth, Texas 761,02
To Grantee,: City of, For Worth,
10010, Throckmorton
Fort Worth, TX 76102
Copy o. Officer
Jol'nt Reserve Base
Fort Worth,, TX
or to, such other address as either party may idesignate by written notice to the other.
TO HAVE AND TO, HOLD the aforesaid easement in, over, and, or the
described, Property of Grantor, with all the rights, Privileges and appurtenances thereto
bel,on ' 0 0 # its successors and assigns,
,ging or in any wise appertaining, Unto the Grantee,,
forever.
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE'-EXECUTION VERSION 12.1113
IN WITNESS WHEREOF, Grantor has caused this instr-urnent to be effective the day,
and year first written above.
GRANTOR: James D. Finley GRANTEE: City of Fort Worth
James, D. Finley Fernando Costa
Assistant City Manager
APPROVED AS TO, FORM AND! LEGALITY
Assistant City Attorney
SA1,ES CONTRACT FOR FfNl,,,EY CITY PROPERTY SALE-EXECUTION VERSION 12.1,2.13
ACKNOWLEDGEMENT
STATE OF TEXAS
COUNTY OF TAR
BEFORE the undersigned authority, a Notary Public in and for the State of
Texas, on this day personally appeared Janes D. Finley, known to nee to e the same
person whose name is subscribed to the foregoing instrument and ,ackn wledged to me
that he executed the same for the purposes and consideration therein expressed.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this day of
52013.
Notar Pub ie in and, for the State of Texas
ACKNOWLEDGEMENT
STATE OF TEXAS
COUNTY OF T NT
BEFORE E, the undersigned authority, ao Notary Public in and for the
State of Texas, on this dad" personally appeared Fernando Gaeta, Assistant City Manager
of the City of Fort Worth, known to nee to he the same person whose name is subscribed
to the foregoing instrument, and acknowledged to me that the same was the act of the
City of Fort Worth and that he/she executed the same as the act of the City of Fort Worth
for the purposes and consideration therein expressed and in the capacity therein stated.
GIVEN UNDER MY HAND AND SEA � OF OFFICEthis day of
2013
Notary Public in and for the State of Texas
SAFES CONTRACT FOR FINLEY CITY PER7' SALE-EXECUTION VERSION 12.12.13
Exhibift "A,''
Property Deserl*ptioli
Being a 9.7'73, acre (425,700 square feet) tract of land, more,or less,, situated 'in the Nancy
Johnso urvey, Abstract No. 887, Ta' rrant County, Texas, being, all of that cert'ain tract
of'land d,es,cn'bed, as Tract I and in Tract 2 a deed to the State of Texas and reco''rdedfn
Instrument Number D20529,2577, D.R.T.C.T., said Tract I being'Lot 2, Block 1, Qah6ba
us es Addition, as filed, in net A,, Slide 5846, Plat Records Tarrant County,
Texas (P.R.T.,C.T'.) said, 9373 acre tract being more particularl"y described by metes and
bounds as follows;
Beginning at a brass cap in concrete stamped Lake Worth Boundary Monument fog,nd, as
shown on the Lake Worth Boundary Maps, He F-83,. on file at the Dapartn*nt of
Engffieeri'ng of the City of Fort Worth, on, the north, line of a tract of land to''ih'O'�Clty of
Fort Worth as recorded in Volume 350, Page 461, D.R.T.C.T, for the southeast, c'orn"er of
said Tract 2 and, being the most southerly southwest comer of said Lot 2, Block 1, from
which a, brass clap In concrete stamped fake rth Boundary Monument found bears
South 89"42" 32"East, a distance of-798,29 feet,
1) Thence North 891 42" 32" West, alo�ng,the south line of said Tract , a distance,of
'
102,45 feet a 5/8 inch plastic capped 'iron rod stamp, "TRAN'SYSTEMS
coR,,PoRAnO'N11 found for the southwest comer of said Tract "C'", same being
the northeast rig h,t-of- y line of Cahoy Dr`ve (a 60 foot, n'ght-of-way) as
dedicated per plat recorded in Cabinet A) Slide 5516, P.R.T.C.T, and being on a
curve to the left whose center bears, South 62' 54' 42" West, a distance of 8130'.21
ffeetl
'd curve o the left, same having a
2) Thence in a northwesterly direction along sial t
central angle of 22" 53" 17", a dicta cue of 331.,614 feet, and a long chord which
blears North 3891"56"West, 329.44 feet, to a 5/8 inch plastic capped iron rod
stamped "TRANSYSTEMS CORPORATION" set for northwest comer of said
Tract 2, same being the most southerty, southeast comer of Lot I-R, Block 1,
Cahoba Business Addition, as filed in Cabinet A, Slide 8004, P.R.T.C.T.;
3) Thence North 321 53" 491"" East, for the common northwest, line of said Tract 2
and, the most,sioutherly sotitheast line of said Lot 1,-R, a distance of 36.73 feet t
i o a
5/8 nch, plastic capped iron rid stamped "TRANSYSTEMS CORPORATION"
found for the northeast comer, of said Tract 2 and the Most southerly east comer
of Lot I R. Block 1, same being on a west line of's d Lit 2, Block 1
4) Thence North 44,' 52' 00" West,, along the common fine of said Lot I-R and, said
Lot 2, Block 1, a distance of 67,74 feet to a 5/8 'Inch plastic capped iron rod
stamped 'I' 'RA NSYSTEMS CORPORATION" found for the most northerly
southwest co er `said Lot 2) Block 1,, same being a common inten*or comer of
sa id Lot I-R, Block I
SALES CONTRACTFOR FINLEY CITY PROPERTY SALE-EXECUTION VERSION12.12,13
5) North 32" 53' 39" East, along the common line of said Lot I-R and said Lot 2,
Block 1, a distance of 12,74 feet to a 5/8 inch plastic capped iron rod stamped
''TRANSYSTEMS CORPORATION"found,,
6) North 13,0 06' 33" West, along the common line of said Lot I-R and said Lot 2,
Block 1, a distance of 1561.33 'feet to a 5/8 inch plastic capped iron rod stamped
"'TRANS,Y TEM S CORPORATION" found at thebeginning of a curve to the
right whose center bears North 76' 531 2711 East, a distance of 60.00 feet-,
7) In a northerly direction along said curve to the night, same having a central angle,
of 37" 45' 52", a distance of 39.55 feet and a long chord which bears North
05146'23"East, 38.83 feet to a 518 inch, plastic capped i
13)Thence North 89' 42' 32" West, along the common so:uth, line of Lot 2, Block I
and north line of said City of Fort Worth tract, a distance of 444.22 feet to the
POINT OF BEGINNING and containing 9.773 acre (425,700 square-feet) of land
more or less.
SALES CONTRACT FOR HNLEY CITY PROPERTY SAI-,E-CAECUTION VERSION 12,12.13
EXHIBIT "Dlf
STATE OF TEXAS §
§ KNOW ALL MEN BY THESE PRESENTS
COUNTY OF TARRANT §
CITY OF FOR WORTH
PERMANENT SEWER FACILITY EASEMENT
DATE.-
GRANTOR: JAMES D. FINLEY
i
GRANTOR'S MAILING, ADDRESS (including County).
1308 Lake Street, Suite 200
Fort Worth, Texas 76102
GRANTEE-. CITY OF FORT WORTH
GRANTEE'S MAILING ADDRESS, (inc,luldinn g County),-.
11000 THROCKMORTON ST.,
FOR'WORTH, 'TARRANT COUNTY, TX 76102
CON SIDE RATiON: Ten Dollars ($110i.001) and otheir good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged.
EASEMENT TRACT.-
A 35' wide permanent easement for sanitary sewer facilities situated' in
the A. Van Noirdstrand Survey, Abstract No. 1584, Tarrant County, Texas, and
being a portion of that certain tract as conveyed to Grantor by deed recorded at
Clerk's File No. 'I Real Property Records, of Tarrant County, Texas
(such tract referred to herein as " ranitor's Property" and being more particularly
described in Exhibit "'A" attached hereto), and being 17.5 feet on both, sides of
sewer line "SSI" according to City of Fort Worth Engineering Vauilt, number X-
202,20, and being more particularly described in Exhibit "B" attached hereto.
Grantor, for the consideration paid to Grantor and other good, and valuable
consideration,1 hereby grants, sells, and conveys to Grantee, its successors and assigns,
an exclusive, perpetual easement for the construction, operation, maintenance,
replacement, upgrade, and repair of a Permanent Sewer Line Facility, hereafter referred
to, as "'Facility"'. The Facility includes, all incidental underground and above round
attachments, equipment and appurtenances,l including, but not limited, to manholes,
manhole vent,s,, lateral line connections,,, piplelinies, junction boxes in, upon, under and
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE-EXECUFION VERSION 12.12.13
across a portion of Grantor's Property and more fully described in Exhibit "B" attached
hereto and incorporated herein for all pertinent purposes, together with the right, and
privilege at any and all times to enter Grantor's Property, or, any part thereof, for the
purpose of constructing, operating, maintaining, replacing, upgrading, and repairing said
Facility.
In no event, shall Grantor (1) use the Easement Tract in any manner which
interferes in, any material way or is inconsistent With the rights granted hereunder,
or (11) erect or per milt to be erected within the Easement Tract a permanent
structure or building, including, but not limited to, monument, sign, pole sign,
billboard, brick or masonry fences or walls or other structures that require a
building permit. However, Grantor shall be permitted to install and maintain pipe,
cable or wire fencing and concrete, asphalt, or gravel driveways,, roads or parking
lots across the Easement Tract. In addition,, Grantor, subject to Grantee's prior
written, approval (which approval shall be in the City's sole determination as
reasonably exercised), may "install, construct, maintain, repair, or replace any
I fiber opt*cs)
utilities (including water, gas, electricity, sewer, cable television and fi I
adjacent to or across the Easement Tract reasonably necessary for the use,
enjoyment, and development cif Grantor"s Property. Grantee shall be obligated to,
restore the surface of the Easement Tract at, Grantee's sole cost and expense,,
including the restoration of any sidewalks, driveways,, or similar surface,
improvements located upon, or adjacent to the Easement Tract which may have
been removed, relocated, altered, damaged, or destroyed as a result of tile
Grantee's use of the easement granted hereunder.1 Provided, however, that
Grantee shall not be obligated to restore or replace irrigation systems or other
improvements installed in violation of the provisions and intended use, of this
Easement.
TO, HAVE AND TO HOLD the above described easement, together with all and singular
the rights, and appu:rtenances thereto in anyway belonging unto Grantee, and Grantee's
successors and' assigns forever; and, Grantor does hereby bind itself and its successor
and assigns to warrant andi forever defend all and singu,lar the easement unto Grantee,
its successor and assigns) against every person whomsoever lawfully claiming or to
claim the same, or any part thereof.
When the context requiresi, ,singular nouns and, pronouns include the plural.
I
[SIGNATURES APPEAR ON THE FOLLOWING PAGE]
SALES CON'rRACT FOR FINLEY CITY PROPERTY SALF-EXECUTION VERSION 12,12.13
GRANT R: James D. Finley GRANTEE-. City of Fort Worth,
Fernando Costa
Assistant City Manager
APPROVED AS TO FORM AND LEGALITY
Assistant City Attorney
ACKNOWLEDGEMENT
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned; authority, personally appeared James D. Finley,
I
known to me to be the persons) whose name(s) is/are su:bscribed to the foregoing
Agreement, and who acknowledged to me that the document was read in its entirety and
understood and was executed, for the puirposies, and consideration expressed therein.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this day
of 120
Notary Public in and for the State of Texas
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE'-EXECUTION VERSION 12.12.13
ACKNOWLEDGEMENT
STATE OF TEXAS
COUNTY OF TA
BEFORE E, the undersigned a uthoirity, a Not ary Public in and for the
State of Texas, ors this day personally appeared F'ernaindo Costa, Assistant City
Manager of the City of Fort Worth, kn r to ma to be, the same person whose name is
subscribed to the foregoing instrument,meet, and acknowledged t o me that the sane was the
act of the City of Fort Worth, and that hie/s,he executed the same as the suet of the City of
Fort, Worth for the purposes and consideration therein expressed, and in the capacity
therein stated.
GIVENS UNDER MY HAND AND SEAL OF OFFICE this day of
20
Notary Pu blic in and for the State of Texas
SALES CONTRACT FOR FINLEY CITY PROP RTY SALE-EXECUTION VERSION 12.12.1
EXHIBIT "A"
GRANTOR'S PROPERTY
A 301.512 acre parcel of land out of the A. Van Nordstrand Survey, Abstract No. 1584,
and, the J. Foote Survey, Abstract No. 534, situated in Tarrant CountY7 Texas,, and being
a portion of Blocks I and 2, Lake Worth Leases, according to unrecorded plat File No. J-
175 on file at the City of Fort Worth Transportation &, Public Works Engineering Vault,
and being a portion of that certain tract as conveyed, to the City offort,Worth by deed
recorded in Volume 350, Page 461, Deed Records of Tarrant County, Texas; and: being
more particularly described by metes and bounds as fol�lows;
BASIS OF BEARINGS, is the Fort Worth Integrated G.P.S. Network System, N.A.D. 83)
North Central Texas Zone�, d:istanc,es shown hereon are ground measurements.
BEGINNING at a, 5/8" iron rod set with aluminum cap starriped "G.F.W. SURVEY" in
place of Lake Worth Boundary Monument (called monument No. 8 per Lake Worth
Boundary Map filed under City of Fort Worth Transportation and Public,Works, File No.
F'-83) lying in the easterly li'n,e of that certain tract of land described as 114.692 acres in
the deed to Quebec �82,0 Partners L,,P., recorded, under Instrument Number D12015041458,
Deed Records of Tarrant Countyy Texas, being the southwest corner of Summit On The
Lake, Phase 2,, accoird;ing to plat recorded in Cabinet A, Slide 2043, Plat Records of
Tarrant Coun�t,y, Texas, and having surface coordina,tes of N'= 69751019.08, E�
2298233.87;
THENCE North 89 degrees 51 minutes 18 seconds East along the Lake Worth boundary
line, the common line between said City tract and said Sum,miiit on the Lake addition, at
803.86 feet passing a 5/8" iron rod set with a red p,l�ast,ic cap stamped "CITY OF FT.
WORTH SURVEY DIVISION" for reference, (all, 5/8)) 1 1 ron rods set so capped unless
otherwise noted here�on), conitin�uilng in all 834.29 feet to a 5/8 iron rodfound with
a�lluminum cap stamped "C.F.W. SURVEY" ly,ing in the cu�rved west rilght-of-w�ay line of
Quebec St.(called 60.0' right-of-way per plat recorded in Volume 388-184, Page 95, Plat'
Records of Tarrant County, Texas), from said corner a brass disc found 'in concrete
stamped '�"Lake Worth Boundary Monument" (ca,lled monument No. 7 per said File No. F-
83) bears North 89 degrees 51 minutes 18 seconds East, 2,1079.70 feet;
THENCE southeasterly with said curve to the left having a radlius of 1 11 113.10 feet
through a central angle of 017 degrees, 110 minutes 48 seconds, an arc length of 139.48
feet whose chord bears, South 13 degrees 32 minutes 215 seconds East, a distance of
13,91.40 feet to a 5/8" iron rod found' with aluminum cap stamped "C.F.W. SURVEY"' at
the end of said curve;
THENCE South 17 degrees 07 minutes 40 seconds East along the westerly line of said
Street, 123.03 feet to a 5/'8" iron rod set with aluminum cap stamped "C.F.,W. SURVEY",
said corner bears North 17 degrees 07 minutes, 410 seconds West 1,0.16 feet,from a 5/81))
iron rod reset with aluminurn, cap stamped "CITY OF FT. WORTH SURVEY" at the
intersection of the westerly line of said, Quebec Street with the noirthwesteirly rilght-�of-way
line of Cahoba Drive (cal�led 60.0�' right-of-way per pil�at recorded under Cabinet A, Slide
5516,, Plat Records of Tarrant County, Texas),
THENCE southwesterly with said curve to the left having a radius of'235.0 feet, parallei
S�ALES CONTRACT FOR FrNLEY CITY PROPERTY SALE-EXECUTION VERSION 12,11,13
to and 3O feet northwesterly of the northwesterly right-of-way line of said Cahoba Drive,
through a central angle of 30 degrees 55 minutes 05 seconds,, at an arc, length, of 30.42
feet passing a, 5/8" iron rod set, continuing in all an arc length of 126.81 feet whose
chord bears South 511 degrees 49 minutes 02 seconds West, 125.28 feet to a " iron
rod set at the end, of said curve;
THENCE South 37 degrees 34 minutes 14 seconds West,, parallel to and 30 feet
northwesterly of the northwesterly right-of-way line of said Drive 430.41 feet to a 518
iron rod set at the beginning of a curve having a radius of 284.0 feet;
THENCE southwesterly with said curve to the left through a central angle of 39 degrees
43 minutes 40 seconds, an arc length of 196.92 feet whose chord bears South 17
degrees 42 minutes 24 seconds West, a distance, of 193.E feet to a 5/8$1 iron rod set at
the point of'a reverse curve having a radius of 173.97 feet;
THENCE southwesterly with said curve to the right through a central angle of 106
degrees 40 minutes 27 seconds, an arc, length of 3123.90 feet whose chord bears South
51 degrees 10 minutes 49 seconds West, a distance of 279.10:feet to a 518" iron rod set
at the point of a reverse curve having a radius of 560.01 feet;
THENCE southwesterly with said curve to the left through a central angle of 57 degrees
16 minutes 50 seconds, an arc length of 559.85 feet whose chord bears South 75
degrees 52 minutes 41 seconds West, a distance of 53,6.82 feet,to a 5/8" iron rod set at
the end of said curve;
THENCE South 47 degrees 14 minutes 16 seconds West, parallel to, and 30 feet
northwest er'lly of the northwesterly right-of-way line of said Drive 589.30,feet,to a 5/8
iron rod set at the beginning of a curve having a radius of 115.! feet;
THENCE, northwesterly with said curve to the right through a central angle of 1107
degrees 54 minutes 01 seconds,, an arc length of 216.57 feet whose chord bears North,
75 degrees 3 minutes 46 seconds,West, a distance of 1'85,916 feet to a 51!81) iron rod set
at the end of said curve;
THENCE North 27' degrees 24 minutes 13 selconds 'West, 61.26 feet, to a 5/8" iron rod
set at the beginning i of a curare having a radius of 255.0 feet,
THENCE northwesterly with said curve to the left through a central and of 32 degrees
34 minutes 40 seconds, an arc length of 14,4.99 feet whose chord bears, North 43
degrees, 41 rein to 33 seconds West, a distance of 143.04 feet to a 5/8" iron rod set
lying in the approximate west line of said A. Van Nordstranid Survey and the approximate
east line of the Nancy Johnson Survey; Abstract No. 887, said corner bears North 00
degrees 01 minutes 05 seconds '"Feat,, 35.46 feet from a 5/8"' iron rod found with
aluminum cap stamped "C.F.W. SURVEY" on the northerly right-of-way line of said
Cah,oba Drive*,
THENCE North 00 degrees 01 minutes 05 seconds West with said approximate survey
line, 1516.381 feet"to a 5/8" iron rod reset with aluminum cap stamped, "C.F.W., SURVEY 17
lying in the Lake Worth boundary line, being the northerly line of said City of Fort Worth
tract, the southerly line of said 114.61 !2 acre tract, from which a brass disc in concrete
stamped "Lake Worth Boundary Monument" found (called Monument No. 11 per said
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE-EXECUTION VERSION 12.12,13
File No. F-83, control monument) bears South degrees 58 minutes 35 seconds West
1 14 'C . C feet;
THENCE North 89 degrees 58 minutes 35 seconds East with said Lake Worth, b�ou,nd,ary
line, the common line between said Cuter of Fort Worth tract and said 114.692 acre tract,1
432.50 feet to a 5/8" iron rod reset with aluminum cap stamped "C.F.W. SURVEY" in
place of Lake Worth Boundary Monument No. 10 (control monument);
THENCE, North 00 degrees 01 minutes 05 seconds West with said Lake Worth boundary
line, the common line between said City of Fort Worth tract and said 114.692 acre tract,
631.80 feet to a broken concrete mion,ument found being the remains of Lake Worth
Boundary Monument No. 9;
THENCE North 44 degrees 44 minutes 14 seconds, East with said Lake Worth boundary
line, the common line between said City of Fort Worth tract and said 114.692 acre tract,
798.58 feet to the PLACE OF BEGINNING, and containing 30.512 acres, f' land as
surveyed on the ground in June 20112.
INCLUDED HEREWITH is a 20 foot wide, ingress, andi egress, easement,1 being, a 628
square foot parcel of land out of the A. Van N rdstrand Survey, Abstract No. 1584,
situated in Tarrant County, Texas, and being a portion of Billocks I & 2, Lake Worth
Leases, according to unrecorded plat File N . J-1 75 on file at the City of Fort Worth
Transportation & Public Works Engineering Vault, and being a portion of that certain
tract of land as conveyed to the City of Fort Worth by deed recorded in Volume 35101
Page 461, Deed Records of Tarrant County, Texas, and being more particularly
described by metes, and bounds as follows,
BEGINNING in the northerly curved right-of-way line of Cahoba Drive, having a radius of
530' (called 60.0' right-of-way per plat Cabinet A, Slide 5516, Plat Records of Tarrant
County, Texas) from which a 5/8,11 iron rod found, with aluminum cap stamped "C.F. .
SURVEY" in said' right-of-way line bears South 53 degrees 16 minutes 35 seconds
West, a chord distance of 111.51 feet-,
THENCE North 147 degrees 14 minutes 34 seconds, West departing said right-of-way
line, 31.22 feet to the northwest corner of herein described parcel lying in a curve having
a radius of 560.0 feet;
THENCE with said curve to the right through a central angle of 012 degrees, 08 minutes
12 seconds, an arc length of 20.88 feet whose chord bears North 59 degrees 28 minutes
23 seconds, East, a distance of 20.88 feet to the northeast corner of herein described
parcel;
THENCE South 47 degrees 14 minutes 34 seconds East, 31.60 feet to the southeast
corner of herein described parcel lying in the northerly right-of-way line of said Caholbia
Drive on a curve having a radius, of 530.,0 feet from which a 5/8" iron rod found at the
end of said curve bears North 83 degrees 03 minutes 06 seconds East, a chord distance
of 387.92 feet,
THENCE southwesterly with said, curve to the left through a central angle of 02 degrees
'1 6 minutes 11 seconds, an arc length of 201.99 feet whose chord bear's South 60
degrees 27 minutes 00 seconds West, a distance of 20.,99 feet,to the PLACE OF
SALES CONTRACT FOR FINLEY CITY PROPERTY SALE-EXECUTION VERSION 12,12.13
BEGINNING) and containing 628 square,feet of land as surveyed on the ground in June
of 2012.
Basis of Bearings.* the Fort Worth Integrated .P.Si. Network System, N.A,.D. 83, North
Central Texas Zone, Distances are ground measurements.
In accordance with the Texas Board of Professional Land fur Keying, General Rules of
Procedures and Practices, 663. 91(9), This "report" consists of the hereon real property
descriptions, and a, Map of Survey being attached herewith.
SALES CONTRACT'FOB.HNI-EY C11"Y PROPERTY SALE-EXECUTION VERSION 12,12.13
'EXHIBIT"B"
Ju.)
A 35.0 foot wide reservation for sanitary sewer facilities situated in the A. Van Nordstrand
Survey, Abstract No. 1584,Tarrant County, Texas, and being a portion of'that certain tract as
conveyed to the City of Fort Worth by deed recorded in Volume 3501, Page 4 61, Deed Records of
Tarrant County, Texas, and being 17.5 feet on both sides, of sewer line"SS,I"according to City of
Fort,Worth Engineering Vau It number X-20220, said centerline being more particularly
described as follows;
BEGINNING 'in the southeasterly property line of that certain tract of land as conveyed to
Quebec 820 Partners LP recorded at instrument number D!205041458, Deed Records of Tarrant
County, Texas, same property line being the Lake Worth Boundary Line per map: recorded at fi Ile
(F-831) on file at the Department of Transportation & Public Works Engineering Vault from which
a 5/8' iron rod set with arlUnlinum cap stamped "C.F.W. SURVEY"' in place of Lake Worth
Boundary Monument(called monument N'o. 10) per Lake Worth Boundary Map bears.- South 001
degrees 01 minutes 05 seconds East, 15.57 feet-,
THENCE-. with said centerline the following courses and distances:
5ll -
South 89 degrees 58 minutes 24 seconds East, .37 feet to an existing sewer manhoe
North 70 degrees 01 minutes 36 seconds East, 467.41 feet to an existing sewer manhole,,
North 64 degrees 0 1 minutes 27 seconds, East, 700.76 feet to a point of'termination lying in a
southerly line of a 30,512 acre tract surveyed this day for the City of Fort Worth from which a
5/8 iron rod set with a red plastic cap stamped "CITY OF FT. WORTH SURVEY DIVISION
at the end of a curve being parallel and 3,0.0 -feet northwest of the northerly right-of-way line of
Cahoba Dr. (called 60.0 feet R.O.W. per plat Cabinet A, Slide 5516) having a radius of 284.0
feet, an arc length of 55.87 feet whose chord bears: North 31 degrees 56 minutes 07 seconds East,
55.,73 feet.,
Containing 01,959 acres of land as surveyed on the ground in June 2012.
Basis of Bearings: the Fort Worth Integrated G.P.S. 'Network System, N.A.D. 83,North Central
'Texas Zone. Distances are ground measurements.
SALES CONTRACT FOR FINLEY CITY PROPER]"Y SALE-EXECUTION VERSION 12.12.13
M&C Review Page 1 of
Official site of the CC4t�r of Fort W rthi,T s
Aft Fo,Ri W m
LITY COUNCIL AGENDA
COUNCIL ACTION: Approved on 11/12/2012
DATE: 11/12/2012 REFERENCE ISO.: **L-15466 LOG NAIVE-, 06501 NRB
ES MT
CONSENT PUBLIC NO
SUBJECT": Authorize Acquisition of a Restrictive Easement on a 9.773 Acre Parcel Located in the
North Accident Potential Zone I of'the Naval Air Station Fort Worth Joint Deserve Base
from James D. Finley and Authorize Execution of a Lease with an option to Purchase a
30.512 Acre City Fee owned Marcel with James D. Finley COUNCIL DISTRICT 7
RECOMMENDATION:
It is recommended! that the City Council.
1. Authorize the execution and recording of the appropriate instruments for a restrictive easement for
a 9.773 acre parcel located in the North Accident 'Potential Zone I of the Laval Air Station Fort 'olrth
Joint Reserve Base from James D. Finley for the value of$613,000.o0, and
2., Authorize a lease with an Option to Purchase with James D. Fimey or an entity in which he is the
principal, for a 30.512 ,acre City fee owned parcel, including i a lease for a period of 13 months in
consideration of certain actions on t
he property by James D. F'inley, and (ii),an option for the sale of
the property for the value of$911 536o . to James D. Finley, or an entity in which he is the principal,
to which sales price the value of the Restrictive Easement will be applied,with net funds of
$1302,360.00 paid to the City.
DISCUSSION:
RESTRICTIVE EASEMENT
In December 2011, the Texas Department of Transportation TxDOT placed a 9.773 acre parcel at
the corner of NW Loop 820 and Ca oba Drive (the TxDO Property)for sale by auction. Mr. James
D. Finley of Fort Worthl ,who ovens adjacent property to the east, was the sole and successful bidder.
The Tx DOT Property is zoned for commercial development, but is located in Accident Potential Zone
(,APZ) I off of the north end of'the Naval Air Station 'Fort Worth Joint Deserve Base (NAS JRB and
approximately Soo feet from Lake Worth;therefore the land use and water quality are of concern to
the base and the City.
Being within the APZ 1, the I AS FW JRB requested that the land uses on the Tx ,o T" Property be
severely restricted in order to not interfere with the operations of'the base. Local TxDO,T staff is in full
support of accommodating the needs of the NI AS FW JRB. Mr. Finley agreed that, at the closing of
the sale of the Tx DOT Property', he would execute a Restrictive Easement to prohibit development
and certain uses on the Tx OT Property if he were paid fair market value for the !Restrictive
Easement, which is valued as follows-.
Value of Restrictive Easement for TxDoO T Property 9.773 acres): $766,300.,00 (market value) -
$153,300.00 (land value) 13,000.001.
;although the United States Department of Defense offers a possible funding source, the grant
process is tine-consuming and receipt is not guaranteed. Staff thus considered other options for
compensation for this Restrictive Easement.
LEASE WITH OPTION To PURCHASE
Mr. Finley expressed interest in acquiiring approximately 30.512 acres of City-owned land adjacent to
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his existing property(City Property). Staff agreed to lease the City Property to Mr. Finley on the
following terms:
Term of 13 months
Consideration for the lease will consist of(i) performance by Mr. Finley of certain actions on the
property to prepare it for sale,, such as fencing, clean up, and re-vegetation, (1i) required use of best
�management practices for water quality runoff into Lake Worth; and (iii) rezoning of the formier
TxDOT Property to "AG"Agricultural to ensure that uses allowed by zoning are consistent with the
Restrictive Easement
The City will also grant an Option to Purchase the City Property to Mr. Finley, pursuant to Texas
Local Government Code Section 272.0101(h)to allow him to purchase the City Property for fair market
value. The fair market value of the City Property is valued as follows:
City Property(30. 12 acres): $30.,000.,O /acre = $ 915,360.00
If Mr. Finley exercises the Option to Purchase, at the closing of'the sale of the City Property, the City
will apply the fair market value for the Restrictive Easement($613,000.00)to the purchase price of
the sale of the City Property ($9,15,360.00). The City would then receive funds in the amount of the
difference ($302,360.00) at the closing of the sale. As part of the Option to Purchase, Staff
recommends reserving from the City Property a 30-foot wide strip of land north of Cahoba Drive for
the future construction of a lake trail', and granting an access easement across the trail for Mr. Finley.
Funds received by the City for the value of the City Property in excess of the value of the Restrictive
Easement will be pilaced in the Lake Worth Management Fund with the intention of'being used as
leverage for future funding opportunities. These may include Navy Readiness and Environmental
Protection Initiative (REPI)funds,for future easements and land use controls, and various programs
for the acquisition of property for water quality buffer zones for Lake Worth.
On June 22, 2012, the commander of the NAS FW JRB provided support via email for this Restrictive
Easement and stated that this type of Restrictive Easement is compatible with the Air Installation
Compatible Use Zones (Ale) study and the base's long term mission compatibility goals.
The subject property is located in COUNCIL DISTRICT 7.
FISCAL INFORM ATION/ClERI-IFICATION:
'The Financial Management Services Director certifies that the Water Department is responsible,for
the collection and deposit of funds due to the City.
TO Fund/Account/Centers FROMM Fund Account Centers
FE70 442082 030001 $302,360-00
Subm'lifted for Cit, Manaqgf,s, Office Fernando Costa (6122)
orig,inat'ling-Department Head: Randle Harwood (6101)
Additional Information Contact: Jocelyn Murphy (6226)
ATTACHMENTS
NASJRB MC loic ma
hap:Happs. net,,org/counci I_packet/mc—rev iew. ?]D--I 7'542&counci I date=]1/12/2012 01103/2014