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HomeMy WebLinkAboutContract 29673 03-18-04P02 .20 RCVD DCRETARY/�q CONTRACT NO- Page 1 COURT HOUSE MECHANIC'S LIEN AND DEED OF TRUST STATE OF TEXAS § COUNTY OF TARRANT § This contract made and entered into by and between the City of Fort Worth, a municipal corporation of Tarrant and Denton Counties, Texas, acting herein by and through its duly authorized Assistant City Manager, Mark Ott, hereinafter called "City' and KHAMSING CHANDAVONG, hereinafter called the "Owner," WITNESSETH WHEREAS, said Owner desires to have constructed water and/or sanitary sewer facilities upon the hereinafter described premises and on the street or easement abutting or adjacent thereto in accordance with standard City specifications now on file in the Water Department of the City of Fort Worth, which specifications are specifically made a part hereof; and, WHEREAS, said improvement shall consist of all construction required to install one 1-inch Water Tap with a 3/4" Domestic meter, and one 4-inch Sanitary Sewer Tap constructed by City forces and include the payment of a water and/or wastewater Impact Fees, said improvements to be installed to serve the following described property situated in Fort Worth, Tarrant and/or Denton Counties, Texas: STREET ADDRESS 7017 MARVIN BROWN ST CITY & ZIP CODE FORT WORTH TX 76179-3347 BLOCK N LOT 28 ADDITION LAKE CREST ESTATES CUSTOMER ID NO. 866757 LOCATION ID NO. 401850 NOW, THEREFORE, City agrees with Owner that it will, without unnecessary delay, construct said above described service lines performing all the labor and furnishing all the material necessary to be used, and will pay all expenses incident to such labor and the furnishing of such material. In consideration thereof, Owner agrees, binds and obligates himself, whether one or more, to pay to the order of the City of Fort Worth, the sum of Three Thousand Seven Hundred Twelve & 80/100 Dollars ( $3,712.80 ) in ( 60 ) successive monthly installments of Sixty-one & 88/100 Dollars 61.88 each. The first such installment to be due and payable on or before the expiration of thirty (30) days after the completion of such construction, and a like installment to be due and payable on or before the same date of each successive month thereafter until the total amount has been paid in full. To secure the payment of said indebtedness, Owner hereby gives and grants a lien on said above described property and all buildings and improvements now thereon or which may hereafter be placed thereon. Further to secure the payment of said indebtedness, Owner hereby grants, bargains, sells and conveys said above described premises to the City Trustee, his or her successors and assigns. TO HAVE AND TO HOLD said premises, together with, all and singular, the rights, hereditaments and appurtenances, now or hereafter at any time before foreclosure here of in anywise appertaining or belonging thereto, unto the said City Trustee, his or e _ assigns, in trust, however, to secure the payment of the aforesaid indebtedne s ; l u �N 9 P Y v�'�J��jc-.� 1�� i r� Page 2 COURT HOUSE BUT IF SAID INDEBTEDNESS BE PAID according to the terms of this contract and of any note representing said indebtedness, or of any renewal and extension or partial renewal and extension thereof, THEN THIS CONVEYANCE SHALL BECOME IVULL AND VOID, and this instrument shall be released at the cost of the Owner, but in case said indebtedness or any part thereof is not paid when due, then Owner hereby fully authorizes and empowers said Trustee, her successors and assigns, at any time after default, to sell said property to the highest bidder for cash, at the place and in the manner and after giving notice as required by law in making sales under deeds of trust. In the event of and after sale, as aforesaid, the Trustee, her successors and assigns, shall make and deliver to the purchaser of said premises a deed conveying said property in fee simple, payment of the proper expenses of said sale to be applied as follows: First, to the payment of the proper expenses of making the sale; second, to the payment of said indebtedness, together with all interest accrued there on; and the remainder, if any, to be paid to the Owner, or his or their assigns. It is agreed that the holder of said indebtedness at the time of such foreclosure shall have the right to become the purchaser at such sale if it be the highest or best bidder. Owner binds himself or themselves that he or they will surrender to the purchaser at such sale immediate control and possession of said property purchased by such purchaser, and in default thereof, they shall be tenants at sufferance of such purchaser, removable at the purchaser's will by forcible detainer proceedings or by any other legal proceedings. Should owner fail to keep and perform any of the above recited agreement, thereupon any holder of said indebtedness at the time of such default, at its option, may declare all the indebtedness then owing, together with accrued interest, to be due and payable, and may proceed to foreclose such lien in the manner above provided or by foreclosure suit. This contract is executed and delivered before any labor or material for the construction of said improvements have been performed or furnished. In case of absence, death, inability, refusal or failure of the Trustee herein named to act, a successor and substitute may be named, constituted and appointed by the holder of said indebtedness, without other formality than an appointment and designation in writing; and this conveyance shall vest in him or her, as Trustee, the estate and title in all said premises and he or she shall thereupon hold, possess and execute all the title, rights, powers and duties herein conferred on said Trustee named, and his or her conveyance to the purchaser shall be equally valid and effective, and such right to appoint a successor for Substitute Trustee shall exist as often and whenever from any of said causes any Trustee, original or substitute, cannot or will not act. WITNESS our signatures this the 14 day of ' 20 (Ci y Secretary Dat CI Y O WORTH By � Q� By Pr6jerty Owner2C Assistant 'ty Manager By ATTEST: Property Owner ? Gm"A� Asct ity Sec ry APPROVED AS TO FORM AND LEGALIT sistant City Attorney Contract Authorization `' � J% Date v. a'ft U sti, Page 3 COURT HOUSE STATE OF TEXAS § COUNTY OF TARRANT § cg�Before me, 1__' a Notary Public in and for Tarrant County, CUSTOMEWS NOTARY SIGNS Texas, on this/day personally appeared Properly Owner( ) known to me to be the person(s) whose name(s) is (are) subscribed to the foregoing instrument and acknowledged to me that (he) (she) (they) executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office, this j day ofr�, 20 Oq I-sh ANGELA ESTRADANotary PWIC Notary Pu is in and for the STATE OF TEXAS State of Texas �.Exp.08/21/2007 STATE OF TEXAS § COUNTY OF TARRANT § Before me, / Tri e &aAe a Notary Public in and for Tarrant County, City Secretary Signs Texas, on this day personally appeared Are— A, ,077- Assistant 4, ,077- Assistant City Manager known to me to be the person whose name is subscribed to the foregoing instrument and acknowledged to me that (he) (she) executed the same for the purposes and consideration therein expressed. 20AI. y Given under my hand and seal of office, this �� da of rqT01'_tary - U661ic—in—an d for the +� State of Texas HETTIE LANE My COMMISSION EXPIRES '+e ° July 26,2007 W Page 4 COMBINED CLOSED END PROMISSORY NOTE, DISCLOSURE STATEMENT AND SECURITY AGREEMENT � DATE ' 2` 20 �C! STREET ADDRESS 7017 MARVIN BROWN ST CITY & ZIP CODE FORT WORTH TX 76179-3347 BLOCK N LOT 28 ADDITION LAKE CREST ESTATES CUSTOMER ID NO. 866757 LOCATION ID NO. 401850 ANNUAL PERCENTAGE FINANCE CHARGE — The PRINCIPAL —The amount of TOTAL OF PAYMENTS— RATE—The cost of your dollar amount the credit will cost credit provided to you or on The amount you will have paid Credit as a yearly rate you your behalf after you have made all payments as scheduled. 6 % $ 512.15 $ 3,200.65 s3,712.80 Your payment schedule will be: Number of Payments Amount of Payment When Payments are Due x"60 $61.88 With Monthly Water Bill "The first such installment to be due and payable on or before the expiration of thirty (30) days after the completion of the construction described in the mechanic's and materialman's contract and deed of trust executed by the undersigned and the City of Fort Worth for the construction of water distribution or sanitary sewer collection facility service line to serve the hereinafter described property, and Impact Fees if applicable, and a like installment to be due and payable on or before the same date of each successive month thereafter until the total amount has been paid in full. DEFAULT: You will be in default if you break any promise made in this document, or if you fail to make a payment when due. The holder has the right to file suit to collect what you owe. All past due principal shall bear interest from maturity at the rate of ten percent (10%) per annum. It is understood and agreed that failure to pay this note or any installment thereof when due shall, at the election of the holder hereof, mature the entire amount of this note, and it shall thereupon become subject to foreclosure proceedings under the said mechanic's and materialman's lien or deed of trust lien this day executed by the undersigned to secure its payment. It is specifically agreed that if this note is placed in the hands of an attorney for collection, or is collected through any character of judicial proceedings, the undersigned agree to pay ten percent (10%) additional on the amount then due as attorney's fees. ACKNOWLEDGMENT: In signing below, you agree to all terms and conditions of the mechanic's and materialman's lien or deed of trust lien, and acknowledge receipt of a copy of the document completely filled in. / ref / I/ ,faced at Fort Worth, Texas, on the ` day of rG 20_ roperty Owner PrWner- P -