HomeMy WebLinkAboutContract 36832-CA3 cotrr
ASSIGNMENT OF TAX ABATEMENT AGREEMENT
This Assignment of Tax Abatement Agreement is made and entered into
by and between Impression Homes, L.L.C., ("Assignor") and Forrest Wayne Robbins,
("Assignee")and the City of Fort Worth, ("City")
RECITALS
A. Waterview Estates, L.P., Pars Investment, Inc., General Partner ("Waterview")
and the City of Fort Worth, Texas (the "City") entered into that certain Tax
Abatement Agreement ("Agreement") for Property Located 5529 Thunder Bay
Drive; Lot 13; Block 3; Waterfront at Enchanted Bay; an Addition to the City of
Fort Worth, Tarrant County, Texas, according to the plat recorded and filed in
Cabinet A; Slide No. 11723, Plat Records, Tarrant County, Texas ("Property")
which is located in the Lake Arlington Neighborhood Empowerment Zone, such
Agreement approved by the City Council of Fort Worth November 6, 2007, City
Secretary Contract Number 36832 ("Agreement"):
B. Section 5 of the Agreement permits Waterview to assign all of its rights under the
Agreement to CTMGT Waterview Estates FL-1, LLC ("CTMGT"), without
obtaining the prior consent of the City Council, such Agreement is dated
September 27, 2013, City Secretary Contract Number 36832-CAI.
C. Section 5 of the Agreement permits CMGT to assign all of its rights under the
Agreement to Impression Homes, L.L.C. ("Impression"), without obtaining the
prior consent of the City Council:
D. CMGT assigned the Agreement to Impression (Assignor), such Agreement is
dated August 25, 2014, City Secretary Contract Number 36832-CA2:
E. Section 5 of the Agreement permits Assignor to assign all of its rights under the
Agreement to Assignee, without obtaining the prior consent of the City Council:
F. Pursuant to that certain Special Warranty Deed dated as of November 26, 2014,
recorded under Tarrant County Deed Records, Assignor conveyed the Property to
M Forrest Wayne Robbins and Assignee acquired title to the real property which is
C-) the subject of the Agreement.
M
mo AGREEMENT
rn NOW THEREFORE, in consideration of the mutual terms and conditions herein
contained and other good and valuable consideration,the receipt and sufficiency of which
are hereby acknowledged, the parties hereby agree as follows:
OFFICIAL RECORD
Assignment of Tax Abatement Contract #36832-CA2 CITY SECRETARY
from Impression Homes, LLC,to Forrest Wayne Robbins. FT.WORTH,TX
1
L As§ianMent. Assignor hereby ASSIGNS, TRANSFERS AND CONVEYS all
rights, duties, obligations, title and interest under the Agreement to Assignee.
2. Acceptance. Assignee hereby accepts the Assignment granted herein, and assumes
Z of Assignor's rights, duties and obligations arising under the Agreement.
3. Effective Date. The effective date of this Assignment is November 26, 2014,
("Effective Date"). All rights, duties and obligations under the Agreement arising,
accruing or relating to the period before the Effective Date are allocated to Assignor
and all rights, duties and obligations arising, accruing or relating to the period
thereafter shall be allocated to Assignee.
4. Release and Surrender of A§signor. Except as otherwise expressly set forth in this
Assignment, Assignor will be discharged from any and all further obligations under
the Agreement as of the Effective Date. Assignor must surrender the Property to
the Assignee on or before 11:59 p. m. on the date prior to the Effective Date in its
present condition. Assignor relinquishes any right to any improvements, fixtures or
equipment on the Property.
5. Repre§gntatjons. Assignor represents, warrants and covenants with Assignee that
as of the Effective Date, that Assignor is not in default under any of its obligations
contained in the Agreement.
6. City of Fort Worth's Consent. City of Fora Worth hereby consents to this
Assignment upon the terms and conditions set forth herein. Unless and until City of
Fort Worth has executed this Assignment, this Assignment is of no effect the
consent granted herein should not be construed as consent to any further assignment
except as provided in the Agreement. The failure or delay of City of Fort Worth in
seeking to enforce any provisions of the Agreement or this Assignment should not
be deemed a waiver of rights or remedies that City of Fort Worth may have, or a
waiver of any subsequent breach of the terms and provisions therein or herein
contained.
7. Nis. Any notice given by any party to another party hereto must be given in
the manner required under the Agreement. The addresses set forth below
supercede any addresses for notices set forth in the Agreement.
CITY OF FORT WORTH:
City of Fort Worth
Housing& Economic Development Department
Neighborhood Empowerment.Lone Program
1000 Throckmorton
Fort Worth, Texas 76102
Assignment of Tax Abatement Contract#36832-C;A2
from Impression Homes, LLC,to Forrest Wayne Robbins.
2
ASSIGNOR: ASSIGNEE:
Impression Homes, L.L.C. Forrest Wayne Robbins
P.O. Box 92726 5529 Thunder Bay Drive
Southlake, Texas 76092 Fort Worth, Texas 76119
8. Successors. Except as herein otherwise provided, this Assignment will be binding
upon and inure to the benefit of the parties, and their respective heirs, executors,
administrators, successors and assigns.
9. Counterparts. This Assignment may be executed in multiple counterparts, each of
which, once executed, will be an original and fully-binding on the parties so
executing; and all such counterparts together constitute one and the same
agreement.
10. Binding Offer. This Assignment will be not be binding until executed and
delivered by all three parties.
IN WITNESS WHEREOF, the parties have executed this Assignment as of the
date first above written.
ASSIGNOR: I ressi omen, L.L.0
13—i
Name: Brruce Hei kinen
Title: Managing_Member
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, on this day personally appeared Bruce
Heikkinen, Managing Member of Impression Homes, L.L.C,known to me to be the
person whose name is subscribed to the foregoing instrument, and acknowledged to me
that he executed the same for the purposes and consideration therein expressed, in the
capacity therein stated and as the act and deed of the Impression Homes, L.L.C. a Texas
limited liability company.
EN ll WR Y HAND AND SEAL OF OFFICE this( day of
2014.
KERI KEIS
MY COMMISSION EXPIRES
Notary Public A and or -f,p;;,; June 19,2017
the State of Texas
Assignment of Tax Abatement Contract#36832-CA2
from Impression Homes, LLC,to Forrest Wayne Robbins.
3
r
i
ASSIGNEE: Forrest Wayne Robbins
Name: Forrest WUZg&bbiqj
CITY OF FORT WORTH
Fernando Costa
Assistant City Manager
ATTEST: ��®R� Q
� � a
°
O {
a�
1ST
Mary Kayser, City Secretary
APPROVED AS TO FORM AND LEGALITY:
Melinda Ramos
Sr. Assistant City Attorney
M& C: C-22514 OFFICIAL RECORD
CITY SECRETARY
STATE OF TEXAS § FT. WORTH, TX
COUNTY OF TARRANT
BEFORE ME, the undersigned authority, on this day personally appeared Forrest Wayne
Robbins , known to me to be the persons whose names are subscribed to the foregoing
instrument, and acknowledged to me that he executed the same for the purposes and
consideration therein expressed, in the capacity therein stated.
GIVEN UIER MY HAND AND SEAL OF OFFICE this day of
xv, �9
•""11'1 YVETTE MARIE MATYOUSIAN
,"_-a„ , `2O rpY PuB• L Notary Public.State of Texas
Notary Pub11C to an 3,, = My Commission Expires
'e', September 03, 201 B
State p ('� y Q �i 9 ...•F.••
the State of Texas ,'''II1O1111••`
Assignment of Tax Abatement Contract 036932-CA2
from Impression Homes, LLC, to Fonvst Wayno Robbins,
4
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, on this day personally appeared
Fernando Costa, Assistant City Manager of the CITY OF FORT WORTH, a municipal
corporation, known to me to be the person and officer whose name is subscribed to the
foregoing instrument, and acknowledged to me that the same was the act of the said
CITY OF FORT WORTH, TEXAS, a municipal corporation, that he was duly authorized
to perform the same by appropriate Mayor and Council Communication of the City
Council of the City of Fort Worth and that he executed the same as the act of the said
City for the purposes and consideration therein expressed and in the capacity therein
stated.
GIVEN UNDER. MY HAND AND SEAL OF OFFICE this '2A—day of
, ^ , 2014.
� m
Notary Public in and for
the State of Texas
LINDA M.HIRRLINGER
MY COMMISSION EXPIRES
Felxuaty2,2018
Assignment of Tax Abatement Contract#36832-CA2
from Impression Homes, LLC,to Forrest Wayne Robbins,
5
NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON,
YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING
INFORMATION FROM ANY INSTRUMENT THAT TRANSFERS AN INTEREST IN
REAL PROPERTY BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS:
YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER.
GENERAL WARRANTY DEED
(With Third Party Vendor's Lien)
THE STATE OF TEXAS §
COUNTY OF TARRANT §
THAT IMPRESSION HOMES,LLC,A TEXAS LIMITED LIABILITY COMPANY,hereinafter referred to
as"Grantor"(whether one or more),for and in consideration of the sum of TEN AND NO/100 DOLLARS
($10.00) and other good and valuable consideration to Grantor in hand paid by FORREST WAYNE
ROBBINS,A MARRIED PERSON,hereinafter referred to as"Grantee"(whether one or more),the receipt
and sufficiency of which are hereby acknowledged and confessed,and for the further consideration of the
execution and delivery by Grantee of one certain Promissory Note of even date herewith,in the original
principal sum of One Hundred Seventy-Eight Thousand Six Hundred And No/100 Dollars($178,600.00),
payable to the order of NTFN, INC. DBA PREMIER NATIONWIDE LENDING, hereinafter called
"Mortgagee";said Promissory Note being secured by a Vendor's Lien and the Superior Title herein retained
and reserved in favor of Grantor and assigned and conveyed,without recourse, to Mortgagee,and also
being secured by a Deed of Trust of even date herewith from Grantee to GREGORY GRAHAM,Trustee,
reference to said Promissory Note and Deed of Trust being hereby made for all purposes;
Grantor has GRANTED, SOLD AND CONVEYED, and by these presents does GRANT, SELL AND
CONVEY,unto Grantee,the following described real property,to-wit:
LOT 13,BLOCK 3, OF WATERFRONT AT ENCHANTED BAY, AN ADDITION TO THE CITY OF
FORT WORTH,TARRANT COUNTY,TEXAS,ACCORDING TO THE PLAT THEREOF RECORDED
IN CABINET A,SLIDE 11723,PLAT RECORDS OF TARRANT COUNTY,TEXAS.
together with all improvements thereon,if any,and all rights,privileges,tenements,hereditaments,rights
of way,easements,appendages and appurtenances,in anyway appertaining thereto,and all right,title,and
interest of Grantor in and to any streets,ways,alleys,strips or gores of land adjoining the above described
property or any part thereof(hereinafter referred to as the"Property").
TO HAVE AND TO HOLD the Property, together with all and singular the rights and appurtenances
thereto in any wise belonging,unto Grantee and Grantee's heirs or assigns FOREVER Grantor does hereby
bind Grantor and Grantor's heirs, executors, and administrators TO WARRANT AND FOREVER
DEFEND all and singular the said Property unto Grantee and Grantee's heirs and assigns against every
person whomsoever lawfully claiming or to claim the same,or any part thereof.
But it is expressly agreed that Grantor reserves and retains for Grantor,and Gtantoes heirs and assigns,a
Vendor's Lien,as well as the Superior Title,against the Property until the above described Promissory Note
and all interest therein have been fully paid according to the terms thereof,when this Deed shall become
absolute.
WHERiES,Mortgagee,at the special instance and request of Grantee,having paid to Grantor a portion of
the purchase price of the Property,as evidenced by the above described Promissory Note,Grantor hereby
assigns,transfers,conveys and delivers,without recourse,to Mortgagee said Vendors Lien and Superior
Title against said Property to secure the payment of said Promissory Note,and subrogates Mortgagee to all
rights and remedies of Grantor in the Property by1l'virtue lthereof'.
aMGOENWPA0EE000M
To the extent applicable to and enforceable against the Property, this Deed is executed, delivered and
accepted subject to the following: any liens described herein; ad valorem taxes for the current and all
subsequent years,and subsequent assessments for prior years due to changes in land usage or ownership;
zoning ordinances,utility district assessments,and standby fees,if any;all valid utility easements created by
the dedication deed or plat of the platted subdivision in which the Property is located, covenants and
restrictions common to the platted subdivision in which the Property is located,mineral reservations,and
maintenance or assessment liens(if any),all as shown by the real property records of the County Clerk of
the County in which said Property is located;and any title or rights asserted by anyone(including,but not
limited to,persons,corporations,governments or other entities)to tidelands,or lands comprising the shores
or beds of navigable or perennial rivers and streams,lakes,bays,gulfs or oceans,or to any land extending
from the line of the harbor or bulkhead lines as established or changed by any government or to filled-in
lands,or artificial islands,or to riparian rights or other statutory water rights,or the rights or interests of the
State of Texas or the public generally in the area extending from the line of mean low tide to the line of
vegetation or the right of access thereto,or right of easement along and across the same,if any.
The contract between Grantor, as the seller, and Grantee, as the buyer, may contain limitations as to
warranties.To the extent said contract provides for such limitations to survive this conveyance,they shall be
deemed incorporated herein by reference. However,the warranty of title contained in this Deed is hereby
expressly excluded from any limitations as to warranties contained in the contract referenced in this
paragraph.
When this Deed is executed by more than one person, or when Grantee is more than one person, the
instrument shall read as though pertinent verbs,nouns and pronouns were changed correspondingly,and
when executed by or to a legal entity other than a natural person, the words "heirs, executors and
administrators"or"heirs and assigns"shall be construed to mean"successors and assigns".Reference to any
gender shall include either gender and in the case of a legal entity other than a natural person,shall include
the neuter gender, all as the case may be. The term "Mortgagee" shall include the Mortgagee's heirs,
successors and assigns,as applicable.
DATED the 26TH day of NOVEMBER,2014.
IMPRESSION HOMES,LL ,A TEXA LI TED
LIABILITY Ay
By:
Name: J f
Title:
ATTEST:
Seczattry I Cashier
After Recording Realm To Grantee
At GRANTEE'S MAILING ADDRESS:
FORREST WAYNE ROBBINS
5529 THUNDER BAY DRIVE
FORT WORTH,TX 76119
eMC.YiE"AADEEDCAM � 11117���111 �I�11 11,1 1 ���1119 IIf Il �ln�ltl liA,A
ACKNOWLEDGMENT
The State of TEXAS §
County of TARRANT §
Tpi in know]edged befor , e o -the day, of by
on be al of said C
i
Notary Public
My commission expires:
Notary's Name(printed)
::..r KEA]KESS
MY COMMISSION EXPIRES
Julie 19,2017
6MGGENWPROEE000M � ����������I.�1■I�I.����II���I���I IIII�I�����I�I��I��I�IIIIi��I��IIIi��'llll ,
M&C R„vie�ti Page 1 of 3
Official site of the City of Fort Worth,Texas
CITY COUNCIL AGENDA FORT WH
COUNCIL ACTION: Approved As Amended on 11/6/2007
DATE: 11/6/2007 REFERENCE C-22514 LOG NAME: 05ENCHANTEDBAY
NO..
CODE: C TYPE: CONSENT HEARING: NO
SUBJECT: Authorize Execution of a Five Year Tax Abatement Agreement with Waterview Estates,
L.P., a Texas Limited Partnership, and Woodhaven Homes, L.P., a Texas Limited
Partnership, Located in the Lake Arlington Neighborhood Empowerment Zone
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the City Manager to enter into a five year Tax Abatement Agreement with Waterview
Estates, L.P., a Texas Limited Partnership, and Woodhaven Homes, L.P., a Texas Limited
Partnership, located in the Lake Arlington Neighborhood Empowerment Zone; and
2. Find that the statements set forth in the recitals of the attached Tax Abatement Agreement with
Waterview Estates, L.P., and Woodhaven Homes, L.P., are true and correct.
DISCUSSION:
Waterview Estates, L.P., and Woodhaven Homes, L.P., are the owners/developers of the 118
properties listed in Exhibit"A". This real property is located in the Lake Arlington NEZ and
Neighborhood Empowerment Reinvestment Zone (NERZ No. 16). Waterview Estates, L.P. and
Woodhaven Homes, L.P. have applied for a five-year municipal property tax abatement under the
NEZ Tax Abatement Policy and Basic Incentives (M&C G-14947), as amended. The NEZ Program
offers a five-year municipal property tax abatement on the increased value of improvements to the
qualified owner of any new construction within a NEZ. The Housing Department has reviewed the
application and certified that the property meets the eligibility criteria to receive NEZ municipal
property tax abatement.
Waterview Estates, L.P., and Woodhaven Homes, L.P., will invest a minimum of$15,200,000.00 to
construct 118 single-family homes in the Lake Arlington NEZ. In order for Woodhaven Homes, L.P.,
or any other developer or builder approved by the City Manager or his designee to qualify for the tax
abatement, they must construct homes with a minimum of 1200 square feet of living space with at
least three bedrooms, one and one-half baths and 70% mortared brick which will appraise for a
minimum of$100,000.00. A more detailed description of the homes to be constructed and sample
drawings are attached as Exhibit"B". The Agreement is attached as Exhibit"C".
http://apps.cfwnet.org/council_packet/mc review.asp?ID=8145&councildate=11/6/2007 12/29/2014
M&C Review Page 2 of 3
Upon execution of the tax abatement agreement, the total assessed value of each home used for
calculating municipal property tax will be frozen for a five-year period, starting on the date the home is
sold to a homebuyer to be used as a primary residence, at the pre-improvement value as defined by
the Tarrant Appraisal District(TAD) on January 1, 2007, as follows:
Pre-improvement TAD Value of Improvements $ 0.00
Pre-improvement Estimated Value of Land $2,025.00
Total Pre-improvement Estimated Value $ 2025.00
The municipal property tax on the improved value is estimated at $550.00 per house, per year, for a
total of
$2,750.00 over the five-year period for each house. However, this estimate may be different from the
actual tax abatement value, which will be calculated based on the TAD appraised value of the
property.
The tax abatement agreement provides that the agreement may be assigned without subsequent City
Council approval to Woodhaven Homes, L.P., or another builder approved by the City Manager or his
designee or the developer's first mortgage, or to a homebuyer who will use the required
improvements as his/her primary residence, or to the homeowner's mortgagee. All other
assignments must be approved by City Council. The agreement also provides that the failure of the
owner to send the City notification of the sale of the required improvements and the executed
assignment of the agreement with the new owner within 30 days of the transfer of ownership of the
required improvements shall result in the automatic termination of the Agreement.
This property is located in COUNCIL DISTRICT 5.
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that this action will have no material effect on City funds.
TO Fund/Account/Centers FROM Fund/Account/Centers
Submitted for City Manager's Office by: Dale Fisseler(6140)
Originating Department Head: Jerome Walker (7537)
Additional Information Contact: Sarah Odle (7316)
ATTACHMENTS
Continued Exhibit B for M&C.pdf
http://apps.cfwnet.org/council_packet/mc review.asp?ID=8145&councildate=11/6/2007 12/29/2014
M&C Review Page 3 of 3
Exhibit A for M&C.xls
Exhibit B for M&C.doc
Final TA Agreement for M&C.doc
Location Map for M&C.pdf
http://apps.cfwnet.org/council_packet/mc_review.asp?ID=8145&councildate=11/6/2007 12/29/2014
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Center line control monumentation found
was used for controlling monumentotion.
I, the undersigned, hereby certify that the survey map hereon, and
the accompanying description, depicts and describes the results of
a careful and accurate survey, made on the ground, and to the best QF d�
of my knowledge and belief. is a true and correct depiction and 't�••'t sreq�C
description of the property surveyed, and that there are no ��;• �••:�,�
apparent encroachments or protruslons across boundary lines, CO.• '•�
shortages of area or boundary, except as shown hereon. The only
easements the undersigned has knowledge, ore those as shown,
• • •
however this property Is subject to any and all easements, RECHQR® C. HAKO
reserva lions, and restrictions that may be of record. Any ......................
reference to the 100 year flood plain or flood hazard zone, Is an �•
estimate based on the data stated hereon, and should not be Interpreted •.D q•••�
as o study or determination of the flooding propensities of this property. •��O� Ovl;•
�eSt.•
Note: This survey was performed In connection with the transaction Q••S
described in:
OF. No. FT-44122-4412205121-84, for Fidelity Notional Title Company.
Lu.Zl JIM 11J=J'0JJAY-41d, 117d ichord C. Maki
P.O. BOX 14293 ARLINGTON, TEXAS 76094-1293 Registered Professional
( 817 ) 226-2700, Firm Reg. No. 100487-00 Land Surveyor No. 4587
Legend: O Iron Rod Found -x-x- Wood or Wire Fence Date: 11/19/14
Updated: 11125114 to show fence
0 Iron Rod Set Control Monument Job No. 68974
All iron rods are 1/2"' rebar unless otherwise noted. Drawn B RCM-1
o sou c 1 NONI wU Ins..Vl, �.m.n,ea