HomeMy WebLinkAboutResolution - 012364J - Warranty Deed - Century Boulevard Corporation - Section 5 Block A - 01_23_1964 l 0 1236q ly
THE STATE OF TEXAS j
KNOW ALL MEN BY THESE PRESENTS:
MINTY OF LUBBOCK Y
This Contract made and entered into this 7 / day of January,
1964, by and between the City of Lubbock, a Municipal Corporation of the
County of Lubbock, Texas, acting herein by and through its Mayor heretofore
duly authorized, hereinafter referred to as the "Seller", and Century Boulevard
Corporation, a California Corporation having its principal place of doing
business and office at 336 North Foothill, Beverly Hills, California, acting
herein by and through its officers heretofore duly authorized, hereinafter
referred to as the "Purchaser", WITNESSEIH:
1. THAT Seller, for the consideration and upon the terms herein-
after set out, hereby sells and agrees to convey unto Purchaser by General
Warranty Deed the following described property situated in the City of Lub-
bock, Lubbock County, Texas, to wit:
A tract of land out of Section 5, Block A, Lubbock County,
Texas, described by metes and bounds as follows:
BEGINNING at a point which bears 70 feet East and 60 feet
South of the Northwest Corner of Section 5, Bock A;
THENCE S 0° 20' £ a distance of 1190.3 feet;
THENCE N 89" 40" E along Loop 289 right-of-way a distance
of 20 feet;
THENCE Southeasterly along a curve to the left with a radius
of 513.69 feet an arc length of 138.8 feet to a point of
tangency in the Loop right-of-way;
THENCE S 150 47' E along Loop 289 right-of-way a distance of
178.8 feet to a point of curvature;
T'HL14CE Southeasterly along a curve to the right with a radius
of 633.69 feet an arc length of 100 feet to a point of re-
verse curvature;
THENCE Southeasterly around a curve to the left with a radius
- --- --- - - -- of 75 feet, an arc length of 89.3 feet toa point of tangency-
in the North line of Loop 289;
THENCE S 74° 58' E along the North right-of-way line of Loop
289 a distance of 1180 feet;
THENCE S 250 27' E a distance of 30 feet to a point in the
North right-of-way line of the railroad;
THENCE N 640 33' E at 50 feet from and parallel to the
centerline of the railroad track, a distance of 229.7 fee
to a point;
THENCE N 160 27' W a distance of 1981.7 feet;
THENCE S 890 40' W a distance of 97U feet to the place of
beginning. Containing 50.787 acres of land, more or less,
SAVE AND EXCEPT Seller shall and does hereby retain and re-
serve all water and water rights,, oil, gas and other minerals
in, to and under said-lands, together with the right of in-
gress and egress for the purpose of repairing, maintaining,
constructing and reconstructing the well house, pump, casing,
water collecting and flow pipe above and below the surface '
and all appurtenances located and now situated in the North-
west Corner of the above described tract of land and along and
parallel a distance of 20 feet from the West boundry line of
said tract; together with an easement for the purpose of re-
pairing, maintaining, constructing and reconstructing and
installing electric power and distribution lines and neces-
sary appurtenances with right of ingress and egress for
such purpose, over and across a strip of land located and
situated a distance of 160 feet South and parallel with
the North boundary line of the above described tract of land,
and along and parallel 20 feet from the South boundary line
of said tract to a point approximately 86.S feet from a con-
crete.monumrnt in the Southwest Corner of said tract of land,
and thence in a Northwesterly direction a distance of 625 feet,
more or less; and an easement in, under, and across, a strip
of land seventy-five feet in width out of the Southeast Cor-
ner of said tract of land on a line parallel with the rail-
road right-of-way for the purpose of constructing, instal-
ling, repairing and maintaining underground water and utility
transmission and distribution pipe lines together with the
necessary right of ingress and egress for such purpose. Sel-
ler also reserves and retains title in and to all houses,
barns, stables, corrals, fencing, windmills, pipe, pumps and
appurtenances with the right of renoval of all or any part
from said land either prior to or within a reasonable time,
not to exceed six months, after delivery of the conveyance
to Purchaser, unless otherwise agreed to in writing.
2. The purchase price is $30,468.00, which the Purchaser agrees to .
pay Seller as follows: All cash to be paid when Deed to saidland is execut-
ed and delivered to Purchaser, as hereinafter set out.
It is understood and agreed that the purchase price stated herein
is paid for the land as a whole and not upon any specific acreage. Upon
approval and acceptance of title Seller agrees to deliver a good and suf-
ficient General Warranty Deed drawn in accordance with the provisions of
this Contract properly coveying the above described property to the Pur-
chaser and Purchaser thereupon agrees to make the cash payment for the pur-
2 -
I
chase price herein provided.
3. Seller agrees to convey said land to Purchaser and Purchaser
agrees to accept such conveyance subject to current agricultural leases
and easements, if any, for Ras, oil, and water, pipe lines, electric power
and telephone lines and drainage as evidenced by instruments of record in the
Deed Records of Lubbock County, Texas or actually in existence or on the
ground at this time, and as reserved and retained by Seller in this agree-
ment.
4. Seller agrees to furnish Purchaser a policy of Title Insurance
to be issued through a reputable Title Insurance Company doing business in
the State of Texas, in the usual and customary form, which policy shall be
issued immediately upon the closing of this transaction and filing of Pur-
chaser's Deed for record. If upon examination of the Title by said insurance
company's representatives and attorneys, any objections are raised, the Sel-
ler shall have a reasonable length of time to cure said objections. In the
event of failure to cure such objections within such reasonable time this
Contract shall be null and void or Purchaser may waive such objections and
accept such title as Seller may tender.
S. Upon approval of said title for Title Insurance and/or other
acceptance of such title by. Purchaser the Seller agrees to deliver a good
and sufficient General Warranty Deed as hereinabove provided.
6. At present the above described property is occupied by tenants
who owe or shall at the end of their respective terms owe, approximately,
the sum of $35.00 or one-fourth of all cotton and cotton seed and one-third
of all grain crops to be harvested from said lands as rental, and it is
i
agreed by Purchaser that Seller shall retain title to any rentals which shall
r
be payable under the.-terms of-all agreements existing with said tenants.
7. Purchaser certifies that an examination of said premises has
t been made on its behalf by an authorized agent of Purchaser prior to and as
a condition precedent to acceptance and execution of this Contract and is
3 -
satisfied with the physical condition of said premises and agrees that the
acceptance of the conveyance as herein described shall be conclusive evi-
dence of the receipt of said premises in condition satisfactory to Purchaser,
and Purchaser agrees and admits further that no agreement or promise to al-
ter, repair or improve said premises has been made by the Seller or its
agents unless such agreement is hereinafter included in this Contract as a
special provision.
8. All current taxes shall be pro rated to date of closing.
9. It is understood by the parties hereto that time is the essence
of this Contract and that this deal is to be terminated and consummated on
or before 60 days from this date. Executed in triplicate, either copy of
which shall constitute an original on this the . 'X// day of January, 1964.
CITY OF LUBBOCK
SELLER
/
BY
i
.MN , Mayor
ATTEST:
Lavdnia Lowe, City'Secretary-Treasurer
CENTURY BOULEVARD CORPORATION
PURCHASER
BY:
Vice-Presi ent and Treasurer
ATTEST:
Assistant Secretary
1
- 4 -
� r
i �
! i i