HomeMy WebLinkAboutContract 16327 MY SECRET
REINSTATEMENT OF LEASE AND ACKNOWLEDGMENT OF INTEREST
THE STATE OF TEXAS §
§ KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF TARRANT §
WHEREAS, by Lease Agreement dated January 25, 1982, the City of
Fort Worth ("City") as Lessor conveyed a Leasehold Estate in the
property legally described on Exhibit "A" attached hereto and incor-
porated herein by reference for all purposes ("Leasehold Estate") to
William James Barrett and wife, Imogene V. Barrett, as Lessee (such
Lease Agreement, together with the rights in and to the Leasehold
Estate set forth therein, is herein referred to as the "Barrett
Lease") ; and
WHEREAS, by an Assignment of Lease dated September 10, 1982,
and recorded in Volume 7358, Page 942, Deed Records of Tarrant
County, Texas, James Barrett and wife, Imogene V. Barrett, conveyed
all of their right, title and interest in the Barrett Lease to
Tarrant Manufactured Home Show, Inc. ; and
WHEREAS, by Deed of Trust dated December 6, 1983, and recorded
in Volume 7688, Page 1510, et seq. , Deed of Trust Records, Tarrant
County, Texas ("Deed of Trust") , Tarrant Manufactured Home Show,
Inc. conveyed to Perry C. Henson, as Trustee, the Leasehold Estate
to secure the payment of that one certain Adjustable Rate Note
described in the Deed of Trust in the original principal amount of
Twenty-Seven Thousand Two Hundred Ninety and 72/100 Dollars
($27,290.72) ("Note") executed by Tarrant Manufactured Home Show,
Inc. in favor of Texas American Bank/Riverside; and
WHEREAS, the Barrett Lease obligates the City to give Notice of
any default under the Barrett Lease to Texas American
Bank/Riverside, in order to give Texas American Bank/Riverside the
right to cure any such default and/or perform the terms and
conditions of the Barrett Lease; and
WHEREAS, on May 15, 1986, the Real Property Management
Department of the City gave notice to Tarrant Manufactured Home
Show, Inc. of rental arrearages due pursuant to the Barrett Lease,
which Notice provided that the Barrett Lease would be cancelled if
such arrearages were not paid; and
'
WHEREAS, Tarrant Manufactured Home Show, Inc. failed to notify
the city of the nceu of crust and consequently, Texas American
Bank/Riverside was not given the Cancellation motire by the city an
required by the Terms of the Barrett Lease; and
WHEREAS, by a Lease Agreement dated November 28, 1986, by and
between John Hargrove, et oo, Michelle uazgzove,aud the City recorded
in volume 8783, Page 1056, et seq. , Deed Records, Tarrant County,
Texas, the city purported to grant title to the Leasehold Estate to
uobo Hargrove, et ux, Michelle Hargrove; and
waonoua,on November 3, 1987, Texas American Bank/Riverside
foreclosed its Deed of Trust lieu no the Leasehold Estate in
accordance with the Deed of Trust and the lawn of the State of
Texas; and
WHEREAS, at the foreclosure sale conducted on November 3, 1987,
Texas American Bank/Riverside was the best and highest bidder for
the Leasehold Estate/ and
WHEREAS, the Leasehold Estate was conveyed to Texas American
Bank/Riverside by Substitute Trustee's Deed dated November ], 1987;
and
WHEREAS, Texas American Bank/Riverside has requested that the
City reinstate the Barrett Lease and acknowledge Texas American Bank/
Riverside's ownership of the Leasehold Estate as evidenced by the
Substitute Trustee's Deed.
NOW, THEREFORE, umow ALL mom BY rnooE pnnaEmTs, that the city
of Fort Worth, acting herein by and through David Ivory, its duly
authorized City Manager, acknowledges and agrees to the following:
I. The purported cancellation of Barrett Lease by the city
did not terminate Texas American Bank/Riverside's Deed of Trust lien
on the Leasehold Estate.
2. The execution of the Hargrove Lease by the City did not
terminate Texas American Bank/Riverside's Deed of Trust lien no the
Leasehold Estate.
J, The city hereby reinstates the Barrett Lease and recognizes
Texas American Bank/Riverside as the owner of the Leasehold Estate
by virtue of the Substitute rznaten'a need, dated November ], 1987,
and conveying the Leasehold Estate to Texas American Bank/Riverside.
-z-
EXECUTED AT FORT TH TARRANT COUNTY, TEXAS, on this the
day of , 1988.
� � � � � CITY..�O
, F FORT WOR�'H
AT TES
City Secretary David Ivory /
APPROVED AS TO FORM AND LE GALITY:
l ✓ {m�' d _. __."ATM" ������
ssistant City Attorney irE �
THE STATE OF TEXAS S
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, a Notary Public, on this
day personally appeared David Ivory, known to me to be the person
whose name is subscribed to the foregoing instrument, and
acknowledged to me that he executed the same as the act and deed of
the City of Fort Worth, a municipal corporation of Tarrant County,
Texas, and as Assistant City Manager thereof, and for the purposes
and consideration therein expressed, and in the capacity therein
stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this / 'day of
"`, ,� „ - 1988.
e
T aa u c in and for
5t ..
to f Texas
my��Com,m��i�ss�,�i,�on Expires:
C-
In 6 lui IhA AA 0 T—%
AFTER RECORDING, RETURN TO:
Bryan D. Bruner
Wynn, Brown, Mack, Renfro & Thompson
1800 First City Bank Tower, 201 Main
Fort Worth, Texas 76102-3186
(817) 335-6261
37715
-3-
AG ` ,4`t•
THE STATE OF MLAS
aov 10W Au MN by T>S6AB 1Mti�l i3s s �`, ,
rrrx of TARRANT [N '
71ae city of Fact Worth.Lamar,a boca"ule mtm(dprl corporation situated in!serest Coanty Tarty.Ngel"tter
a o6dma tddwnd ton W*)acting herein"awd through M {.i5_—A-
Asst. Mtb�etlsad
CityMaoatiar sad ws.`. LL'M am sa> +rr ,r..r..
mart. IIbpQEltE �atrate god, j�tt►deal f Iaistt wiprpe
per and In cood4watlaw of the pump paymaat by Lsmsa,when daa.of ill trepan of', -'a it A !!etch«'
for sad In aftwWjMft of the%A mnd lonely perfornaratla by LAaw of so of Lewae't*st1;gad obtipi loiehtir,nitec
oompliasoe**b tie ooMMAk s,pasrdl8aas and a�aams W ha%W coataitied,City herllih'AtattNrra'lob aji!apnea,
and L,waee be+reby aoompta!team Ctty,tltt:feYcvrispl dssetrlbad+arl l Z,for t�,i'4��atldy
�f++��..,,,
w�Mft l
15LC.CK 14. LAKE WORTH LEASE §UM
.SEA 7536 v role t <<,,
11.TERM,
The tam of the low shall be �59, yam oo matpxdns Febriml and eiO
--- J.ameniy 31, 2 3
The Cky slay after five(5)year wrtendonz to the term of the lase on each filth astolatnw of ails"Mama.,TIM L404�e
NO to FOU 1och vactudon by giving notice to the City,in n idag.within+bay OW grit r F�)
asfssatsision. �,v,ra >� .y
M.IESKE'!I RIGHT'S AND OKAGATION!!'` ry
!setae mhvl: ,
A. pay annual rag to the City of Fort worth in the stmt of SM.40 ,u sod rent payable in 12 egtud
htsta8mmt9,one arch instalmect due am the first of each month.
IL pay the rest due under this lease to the Azmetsor-elector of Tam for the City Of Fort Worth.or other offite
designed by the City.
C. pay rear for aacb year attar the first year in an awatmt that shall be adjust�e.:d-rb�y�Fiylety percent(110%)oftht
dump ltd th4,aaauat aYw ace ai tbr•Cousuam P�U.S.City Avaaser"aid"GRT ,all etrbanm com%aO is
(CPI-W h m the a0mal average for the previous coleatdar year.as pabllshW by the of La w Stadaics for the;
Unhad Stun Depntmcnt of Labor,'said adjustment to be computed by dividiag*#CP2-U for cites"!lm*nt t
by the CFI-U for the t=44ately preceding year.snbtrmpting one(1)from clot ggoti t.ro 041yins 00vorimit vy
eisbatenths(0.8).adding one(1)to that product.and asoltiplying that suet by the malt for the previous year•
D.lbte able to the leased tend for naidsadafand water rpaeadoaal pae'pooi.:10,iooarpllatpos wWrapplicable
mains ordinanoes. �N
8• use and occupy the lammed land,in compliance with the laws of the UaW Saatef of Atswk*,the stguta of
the State of Tom.and the Charter and Ordinaoees of the City of Fbn worth."whother_�agtt ht'tfact or bw*sfter.
adopted so lots as any hereinafter adopted ordinance or charter provision is not adopted solely for the pttapw or,
limidne the rights of I:estnae and shvihtrly sitwtsd L,aemosl. "
F. accept,the prernises in their present condition as bolas suitable for all purposes of this kw*
O. be deemed to be ant bmkprodent temw is poaass)m of the pranbm wW raspm obk tb*pgon for bis'ti U
and oimissions vt¢tb regard thereto.and the City zhall in so fray be responsible foe aajr*or antissias of the Lkpet-
H. indemalfp.bold barudess and defend tbeCity,its gfticms.agents.and em*400,from and*atnst Aq'aad
all claims for dattpw or injury.including death,to persons or properttyarW*out of acv g to the la14&tine
an and occq!»y of the Mood land by Lana,bit ghats or iswitees. ,
1. htdemdfy,bold harmless and defend City from and against any and all 106*atsift, sod sweriahm's UM or'
my other Ilan,claim or charge hnpond upon the leased l pd or rising as a result of eery conduct or activity by the
Lamm or rayons on hi;l,elsdf.
J. proAdic and itwit"M suitable methods and twang for tM disposal of trab.bq t'*ats,said attars.fh "
oil asce with applicable PMUW n lows and ordinance!. .:.4
Y. not drill or dig any vv U on the 1p d land wlthouctbe prior written appr oval,qir City tux use the water
tress such vre11 aatB it hM bees testd sad sapcaved by the appropriate authorities.
L not ooemmit.cr allow to be comwitted,say waste on*a pcemhes4 nwr r cw Maw any nuisance to exist on
the Vanilla.
M. sot tap or permit any animals on the leased praaima other tban dognestiaated dogs and cats.
IV.IIEti.SOR'S RMI T6 AND ODUGATIONS '
The MY of Fort Worth shall:
A.approve the salt,at assignsocr t(hereinafter collectively m ignment)of this leas,+Or remaining tesm;prowided
that,
1•all amounts owed to the City hereunder and City ad vakm=taxes are paid currant to the daze of'suth assip-
ment; and
.._. EXHIBIT
2. the asstpsment is evidenced in writ#nS;and . k
3. in said assignment the assisam acpreasly aeroglts,assumes,and so partb"alt ar ,4onelitigos mid
limitations to be kept and performpd by Liasse
MAW this lease;and ,y,.Al,t - , � -� � ,;+.
4. said ft is asecu*4pd*b"WWA d in-rab *Me.torlfd'awil
S• qiW!mast i,suba�eled set tbCtey!atpae 4*Y Manaps9t � a�y�he r;
city manw.
Wlthia'10 day:ot,er+ptdpt of the a:siptra t Ilse aq' elx P.... Lena,,is b those pw�41104A`ProO*"M tluouO A-S ative acid ! te'�I", dour�oe wick,
and MWOM*4 these 'd tine s;bv*e pr. d
roap tk�atY alt T :ka`
pew.
�, Maw�R riisbt to�surprot
dards CodePty QS41sm allo.a1Ql at tii traUafee t1 1[liMpt ee?M
in wr�irt�ial of Otq vioistions of sa_W oMbiance within 10 of tho su t< the ty
� '� f
G- ! MM11 ort coarq?t* L or trtnttrt'er hi bk*fuse 'tat tt flue to ace-
4!qh Q�P�V�ot.4iiR.oc b tp,l." l�t: ..+
tbs Cif Sf for flue if is a."*od.All tyarsq!sts be rrsbilcat id' r+ fit` of
Teaatt aced the ortdit�yttex attd dtarcer of the t�ity of Ftisst. ottik. ��' '� � =# ::�"
D a°"* .
r°'�X ���r�tdw.sirs.!!a�l,�rs�Maatt; t�n �`at��itu�.
```___♦♦��✓this rase :.
in WG FNW V[ Mur.'R�1ii. daj' �^e is� �rM q�,„•., .
E. pave sits ri�}tt=to estta.upon the abase l'.peayerry at dam at>V� a air-
fto or testa pftrpossr easrnainitsj skid hxappplhp Ie4sed#add �!!'i hats. ed
.each Yis berestndNs. "�4dt
Msiidinss'?bo the 1as!'A)ant et wWt where suet tratrty �6edflcaUyu. the
statutat.N',Nte Ssate of terye,or the [piassbroata�s�ktyrof�+tD 3Ybrtlw,.,+; y " :..�,� , t. .
F; ir�that L sTee will have quiet fad.pesrceful opradoa of ie tatfgd tape;bpd thkt the+ will.
ddetsd lilt to ouch quiet enjaymeet'and pes►eesfipignoasesslcia darint tp,e di'tbis
Ci. The City ManW shstq review this lew prior each fifth anniinprsary at� ttttisimarecammendaticasu tothe
CHY C'taaCit, pReniiona,,
_ V.LE I OPTIONS
MwChy of Fort Worth way,in the event that i~ tU give..uoties�to Lib-�rthat exists itr`
tht O iumeg of tssttsds due hetremider,the City.Mansow qty waive any pardon ii It y0ars a psstt our eonrWirt tion
of said ip,L,epee sW haYe,tbc JisW W prefalt dLnqueot to the Cuy O"kxo 114" fort4.�wt+lsi`dk City,
Manager fogy the rC9t w�
Any rests waived ap a result of such hardship*W rwdaWns uapaid shall 0op*W a Soft agitinst flu Lsssee's lm-
provements and such unpaid rents shall bear,interest at the current lepl rate. t*
Vii.L 1 '1t OPTIONS �•
less"am.
, A. Sell,wisl or sublet this ease or/RWWO+j VM thereof,
B ti..: �''"t ,r'��3t��rpk '� ,�!4,s``F*r; • ,
is in
aceordo=*kh.ali applicable City Cotes and Ordingtncps,
C. stake iherations,remodel,and make improvements to nistina structures teed, the lased Maur;provided that
such actions,sball be in accordance with applicable C ky Codes and Ordinances.*
D. terminate this lease without reimbursement for Low's strudurasand hnprovemieois sK any time by Kilt the
City 30,dtsyp notice of intention to tenainate.
4M.,53fCpU14UM OF.-k i'JIfi
A. Upon axpiratki%of the terra of this leapp4he City,"pay to the-Lou,4q atptoua4t.'o to ft thenparket
value of any straftres at imptovements heretofore mills awe srescted oa -0001*ls for ,
any new OQttla a aced to Mini m gFerpCted dtthp�i � tarn
will be a era race amount based on tAe number of ygars{�leaatseturs or hgprortnts�{ �iaos Lao of
Yom rauiaigx eaq temp lease at the time acid structM tut;jWovgsants*at tnati 6 VMd W It itromar,tipW 2:86
percatt,
new to exceed 1004k of the marks.value of the new strnctyre sal the a Mme.
1l '
B. Replaptmsrnt of as or perW sbrnctures destroytd in+abole or in part by tirejAoq**M twof(lqdarvAycinecl
Structum or improvements heretofore made or erected as the leased premises.
,C. The C ky shall pay the I,essee„lhe market valise,of the strumires'atad t: as defined above upon
possession of she property.Aamptance of the amount offered by the City does n+ot forfrit 141i$%tigiseto dispute the
»lid.nrpr,si�p11 a ooussdtua a waiver#aaY ka remuly T - `� fsEf Yiiass4 tq-ill - itt+�4+i+r#se
value.In the event that a court of cognpetent iur�aioti determines that the ana poid w the teas�eaty thikbty,ik+ '
in excess of.mat•ket value of such strwures or improve the LAmee shall prac4t y-r4Sand such+moonatn tine City.
Z
EXHIBIT 11,4-2-)1
VIII.TERMNATION OF LEASE
A. In-the event the Lessee:
1. is in arrears in the payment of the rents,or other amounts agreed to be paid ig0sr On tapes of thlr kase;or
2, MA failed to perform any obligation under this lease,then the City may jH a notice to tine Lessee of tormina-
tion of the lease by default.said notice to sped fy in detail the defaslu upon whicktla Wvowtiaa woob be biW.In
said notice the City shall demand that actions be taken within 45 days to cue tdsa lfa sh 6#ddwAu upetp,lAdch the
termination is bared or the Isve shall be terminated.
D. to the evestt of a default by Lessee,and said Free does not take action to cote the dit,tUh within 4$days of the
notice from the City,the lease may be terminated apd the City shall have no :to reimburse tats Luce for$true•.
tam or improvements to the leased land.The Lessee shall have the right to r .and:
persgswl property within 90 days from the date of lepR tersaination by default, vasp� at the
and of acid 90 days.All etch property not remeyed within 90 days 11"betaaepa tiYa +�
C. In the event rentals to be paid under the arms of t�is fare is
Pr
1.5%par month 94D be added.toAw slttpoettt, tte.
D. Upoa termination of or o4hs'�er4l+ataM1 to ..
t?dmotael�ropp the premises 1 ice] t ms of parumW property belceg0z to Levee uoL p.......... Ind
all structures and htsprovematu for which no reia►iiurrement is made under slut ttxtattpf:tbk low.
IX.MORTGAGES
A. So bong u no default e:dsu uader the terms of this lease,the Lases or*q A spay mortgage>gtl*Whold
estate,std improvements situated thereon to secure a ban or loaner of atattey 4etuay tpade.or that will be Moe,or
any a tansioa or renewal of the same. yti
lI<.. &xb mortgage or dad of trust shall be In every respect subject, rt.cep¢sp t�k+sll the
and oavawfltt of this lest,,.
C. In&evemt o4 eKwk that could result in the tarmimdoor of that nda�rMtt�ttt�td Iesfaa ipr the
bnproreadiems and s uctures on"leased land.the Cityj Save nothx tq tlia. vs 6 roo", _to*i*6 to
the t.peiaa,and said'portdagpa ab#P leave the rtghs to care said default arsdl Ow tt:rmtt and conditions of
We Iase.
D. A mortgagee or trustee under a deed of trust shall have the some right OWVGWW eo assign this lease,{4 c*unc-
don with a trustee's sak or transfer to satisfy Lessee's obligation to a mortgagee,as".the I,,esute W1dv tb±F t of
this Iease. 1 ,^
E. At any time the City is to pay the Lessee for structures or improvements on the lased land,the City shall,give
notice to each mortgagee of that payment, and said mortgagee shall have the right to receive payptc'ftt for any.
outstanding obligation secured by mortpge or deed of trust on the leasehold a01mprovements.
F. The City shall be.required to give such notice only if the mortgagee has,in writing,i�orme> the qty of its in- ,r
terat.and has suppw aniddttiss for said notice.
X.OWNERSHIP OF IMPROVEMEN78
All structures and improvements situated on the leased land when this lease Is enta ed Into are,and shaiLcontinya to
be,the praparty of the Lessee,and all improvements hereinafter made by the,Ltsree c0 the,,;lased!and shelf be the
property of the Lessee.
XI.SUCCORS IN INTEREST
A. In the event of the death of a Lessee,his successor$and estate shall succeed to hk.Interest under this lease,and
those entitled by law to succeed to the Lessee's interest in the lease s4a1i oontigue to agjcry the ZigOts,anc�b1therts
hereunder of the deceased Lessee;
B. to the event that the Lessee or his Assigne;is adjudicated a bankrupt,saiQ.jem may be assigned ac prdtnded
above.and any,assignee shall assume the duties and liabilities as sea out alpve:
R
XII.VENUE
Venue of any action brought hereunder shall He exclusively in Tarrant COUAY.Texas
XIII.NOTICE
A. Any notice required under this lease,unless otherwise specified,shall be given by depositing to the United.States
Mail as certified mail.postage prepaid,addressed to the:
11. Lasoe's or A aitnee's at the address Amm on this Rase unim said Lessee or Assignee has Awr ishedjq.thc
City,in writing.instructions to mail notices to another address;
2. City Manager of the City of Fort Worth,City Hall, Fort Worth,Texas;
3. Mortgagee at the address supplied to the City in writing for the mailing of surb notice.
XIV.C014CLUSION
This instrument represents the entire agreement between the parties eoncernigR ibe leasing of the leased,land and
shalt be binding upon and shall be to the benefit of the parties hereto,their cuooerers,assigns,anti ko represen-
tatives,and all prior leases,assignments,or agreements of any nature concerning the leased;land or property situated
theteon are superseded by the terms of this lease.
D Fort Worth,Tarrant County,Texas,this �—� day of
3.
EXHIBIT '114--3" ,
�m�01WUry c L v' n.�n
"'�_ ""' �"� •J gat �,
ATTEST; ,� CRY QF
HY `fir rtYW ^''te mx ,+t .
OVER AS TO FO
M c : -
Imo
STATE Of TEXAS � r#4
WVN}■ OF l '}}�N ry
it y �hrt (•S. t `
SLR y �
�BF�FOR,$.ME,the Iced authority a��Pyblic iASmid for the Y�LT M1I 1�� a+11Y
subscrow to the foregonnt;
C16F of Ptnt e4�Pa1 ct?tpprµtotl of TartsMtt Freed a,
4"
th+tejof �
Cii sN A)NDF,I MY HAND;AM SEAL Of OMCE this �}day of
Y
` M S
r J _ Notary Pub said for ~
- �
My Commission Expires:
STATE OF TEXAS
COUNTY OF TARRANT 6
BEFORE ME,the wWersigned authority,a Notary Publir,In mW for the State of Tom,oo'this day'pxrsonally
appeared 94 t t i an.1'amma_RA rrp r l lignagn& ]I- ttg,rr&U—knawn to meats be the person wt time namc is
tubtcribed to the foregoing instrument,and acknowledged to the that he executed the wne for tht purposes and con-
sideration therein expressed.
Or%gN UNDER MY HAND AND SEAL OF OFFICE. this 25 d&*'pfZAn!X%ry , A.D.
196?.
Notary Public 4n and fc r- lGbsrls�.Ce';WrTsa
the State of Teas «,,o, r
My Commisrlo,Expires;
4.
EXHIBIT "t "