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HomeMy WebLinkAboutResolution - 2003-R0381 - 2001 Paving Assessment Program Agreement - 09_04_2003Resolution No. 2003-RO381 September 18, 2003 Item No. 26 RESOLUTION BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK THAT the Mayor of the City of Lubbock BE and is hereby authorized and directed to execute for and on behalf of the City of Lubbock agreements with local property owners wherein such owners voluntarily consent to a personal liability thereon in consideration for the property being included in the 2001 Paving Assessment Program, which agreements are attached hereto and shall be spread upon the minutes of the Council and as spread upon the minutes of this council shall constitute and be a part of this Resolution as if fully copied herein in detail. Passed by the City Council this 18th ATTEST: Rebecca. Garza, City Secretary APPROVEDAS TO ty Engineer APPROVED AS TO FORM: ohn Kniglyr, Assistant City Attorney gs/ccdocs/Agreement-2001 Paving Assessment Prog.res June 2, 2003 day of September , 2003. AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK a oo3 - (�6 3 81 This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Dale W. Davis, whose address is 3816 57th Street, Lubbock, Texas 79413-4628, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley between 56th Street and 57th Street from Memphis Avenue west to Nashville Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Southgate Addition, Lot 240 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Dale W. Davis 3816 57th Street Lubbock, Texas 79413-4628 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 M This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this 12 day of 52003. CITY OF �2 ATTEST: Q&"' -- - n, , — Regecca Garza, City Secretary APPROVED AS TO FORM: ohn M. Kni t, As ' ant WAttorney JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 OWNER 4 � • D4xr�- Dale W. Davis ousels signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Daniel Collins, whose address is 3814 57th Street, Lubbock, Texas 79413-4628, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley between 56th Street and 57th Street from Memphis Avenue west to Nashville Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Southgate Addition, Lot 241 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. ►a Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Daniel Collins 3814 57th Street Lubbock, Texas 79413-4628 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this �13 day of � , , 2003. CITY OF LUBBO TEXAS By: MARC MCDOUGAL, MAYOR ATTEST: Ow," -feA Rebecda Garza, City Secretary APPROV AS TO O TENT: arry Hertel it Engineer APPROVED AS TO FORM: ohn M. 16iijht, istant ity Attorney OWNER `baniel Collins JK:mI\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 (Spouse's Agnature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Julie Hamilton, whose address is 3812 57th Street, Lubbock, Texas 79413-4628, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley between 56th Street and 57th Street from Memphis Avenue west to Nashville Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Southgate Addition, Lot 242 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An 'Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Julie Hamilton 3812 57th Street Lubbock, Texas 79413-4628 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 _� 4 C C` XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this day of "iq , 2003. CITY OF LUBBOC"EXAS OWNER By: MARC MCD UGAL, MAYOR JW Hamiltdh ATTEST: (Spouse's signature is required if Owner Q,44 is married) Rebe a Garza, City Secretary APPROVED AS TO FORM: M. Knight, Assis City omey JK:ml\CityAttVohn\Contracts\Assessment Paving Agreement 2001 January 7, 2003 AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Jesus I. And Loralyn C. Espinoza, Jr., whose address is 3810 57th Street, Lubbock, Texas 79413-4628, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley between 56th Street and 57th Street from Memphis Avenue west to Nashville Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Southgate Addition, Lot 243 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. l" No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. "I Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Jesus I. and Loralyn C. Espinoza, Jr. 3810 57th Street Lubbock, Texas 79413-4628 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 , XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this -::� day of s..�,,,�,a r , 2003. CITY OF GAL, MAYOR ATTEST: 0-0 14-4 z -e, —)�� — Reb cca Garza, City Secretary APPROVED AS TO FO M. Knight, Assi City orney JK:mI\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 OWNER (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Kevin Bass and Julie L. Morrow, whose address is 3808 57th Street, Lubbock, Texas 79413-4628, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley between 56th Street and 57th Street from Memphis Avenue west to Nashville Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Southgate Addition, Lot 244 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or C r� enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Kevin Bass and Julie L. Morrow 3808 57th Street Lubbock, Texas 79413-4628 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this day of , 2003. CITY OF L GAL, MAYOR ATTEST: Reb cca Garza, City Secret APPROVED AS TO FORM: o M. Knight, Ass> Cit ttorney JK:ml\CityAtt\John\ContractsWssessment Paving Agreement 2001 January 7, 2003 OWNER (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Randall and Tamri Morgan, whose address is 3804 57th Street, Lubbock, Texas 79413-4628, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley between 56th Street and 57th Street from Memphis Avenue west to Nashville Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Southgate Addition, Lot 246 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. 0 All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. r_ C VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. KI Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. OUT All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Randall and Tamri Morgan 3804 57th Street Lubbock, Texas 79413-4628 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this day of ;,�� ,�- )2003. CITY OF L MAYOR ATTEST: Re ecca Garza, City Secretarp APPROVED AS TO FORM: M. Knight, Assis Cit ttorney JK:ml\CityAttVohn\Contracts\Assessment Paving Agreement 2001 January 7, 2003 OWNER -Jq4"""4 I - Randall Morgan (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Donnie Lynn Skipworth, whose address is 3802 57th Street, Lubbock, Texas 79413-4628, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley between 56th Street and 57th Street from Memphis Avenue west to Nashville Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Southgate Addition, Lot 247 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An 'Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. a Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Donnie Lynn Skipworth 3802 57th Street Lubbock, Texas 79413-4628 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 K"T This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this A;? day of _ 1241A �2t14 52003. CITY OF LUB CK, TE OWNER MARC O GAL, MAYOR onnie Lynn Sk worth ATTEST: (Spouse's signature is required if Owner U-1 Ile is married) Reb cca Garza, City Secretary APPRO AS TO NTENT: a Hertel ity Engineer APPROVED AS TO FORM: M. Knight, Assis ity MtOney JK:ml\CityAttUohn\Contracts\Assessment Paving Agreement 2001 January 7, 2003 AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and William M. and Elizabeth K. McGinnis, whose address is 3811 56th Street, Lubbock, Texas 79413-4623, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley between 56th Street and 57th Street from Memphis Avenue west to Nashville Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: m Southgate Addition, Lot 237 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. ,`, 1 �,_ � \ XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: William M. and Elizabeth K. McGinnis 3811 56th Street Lubbock, Texas 79413-4623 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 GU This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. ,--I— Executed this 2�- day of ' PI U 52003. CITY OF L UB S OWNER AIr OUGAL, MAYOR William M. McGinnis Eliza th K. McGinnis ATTEST: (Spouse's signature is required if Owner is married) Rebec6a Garza, City Secretary ta AYYKU V tV AN 1 U V UKM: 1 M. Knight, Assi City mey JK:ml\CityAtt\lohn\Contracts\Assessment Paving Agreement 2001 January 7, 2003 AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Herbert D. Stallings, Jr., whose address is 3809 56th Street, Lubbock, Texas 79413-4623, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley between 56th Street and 57th Street from Memphis Avenue west to Nashville Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Southgate Addition, Lot 236 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. iy All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or f enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Herbert D. Stallings, Jr. 3809 56th Street Lubbock, Texas 79413-4623 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 r XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this day of 12003. CITY OF L GAL, MAYOR ATTEST: Rebe ca Garza, City Secretary APPROM AS TO APPROVED AS TO FORM: M. Knight, Assl City A ey JK:ml\CityAttUohn\Contracts\Assessment Paving Agreement 2001 January 7, 2003 OWNER Herbert D. Stallings, Jr. ' ze?�� (spouse's signature is required if Ow r is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Miles M. Hornak, whose address is 3805 56th Street, Lubbock, Texas 79413-4623, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley between 56th Street and 57th Street from Memphis Avenue west to Nashville Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: No Text Southgate Addition, Lot 234 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Miles M. Hornak 3805 56th Street Lubbock, Texas 79413-4623 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 K"T This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this ,ZC4:-k day of � r��} ®, 52003. CITY OF L GAL, MAYOR OWNER 77 ATTEST: Mbouse's siknature is'retibired if Owner Rebec6a Garza, City Secretary APPROVED AS TO FORM: M. Knight, Assist City Addrney JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Robert W. Riley, whose address is 3801 56th Street, Lubbock, Texas 79413-4623, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley between 56th Street and 57th Street from Memphis Avenue west to Nashville Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: C Southgate Addition, Lot 232 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. IV All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or t enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. 1:4 Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Robert W. Riley 3801 56th Street Lubbock, Texas 79413-4623 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 Xv. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this day of , 2003. CITY OF L OWNER By: %moo MARC C OUGAL, MAYOR Robe . Riley ATTEST: (Sp use' ignature is requ' d if Owner is married) Rebecca Garza, City Secretary APPROVEIYAS APPROVED AS TO FORM: M. Knight, Assist ity AtWi&y JK:ml\CityAt[\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and T.R. and Marian Walsh Trust , whose address is 3803 56th Street, Lubbock, Texas 79413-4623, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley between 56th Street and 57th Street from Memphis Avenue west to Nashville Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Southgate Addition, Lot 233 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An 'Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. C Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: T.R. and Marian Walsh Trust 3803 56th Street Lubbock, Texas 79413-4623 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 c "TA This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this /Z day of �,,�, , 2003. CITY OF LUBBOCK,r17EXAS OWNER MCDOU(3AL. MAYOR T.R. and Marian Walsh Trust ATTEST: (Spo se's signature is required if Owner Q S)'" is married) Re ecca Gap a, City Secretary .... IIQ . Engineer APPROVED AS TO FORM: M. Knight, Aisfgffant Cit Attorney JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and James D. Morris , whose address is 4421 10th Street, Lubbock, Texas 79416-4825, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley, between loth Street and llth Street from Salem Avenue east to Quaker Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: West Gate Drive, West 110' of Lot 12, Block 17 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. Im All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. /0 Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: James D. Morris 4421 1Oth Street Lubbock, Texas 79416-4825 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this day of 4A, , 2003. IZ CITY OF M- ATTEST: OWNER W��1111 Ogg UGAL, MAYOR James D. Morris P,kk,_.t_e_ Re ecca Garza, City Secretary AYYICV V Eli f1J 1 V r UKIVI: Q M. Knight, Assi nt City torney JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 &&n2 MOAA4�� — (Spouse's signature iE required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Gene and Ramona McLaughlin, whose address is 4407 10th Street, Lubbock, Texas 79416-4825, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley, between loth Street and llth Street from Salem Avenue east to Quaker Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: West Gate Drive, Lot 19, Block 17 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (S%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or GI G enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. 1I Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Gene and Ramona McLaughlin 4407 loth Street Lubbock, Texas 79416-4825 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this day of -J hj_ gav CITY OF LUBB TEXAS OWNER ByWR(M� CDOUGAL, MAYOR Gene McLaughlin Ramona McLaughli ATTEST: Rebecca Garza, City Secretary APPROVED AS TO FORM: q M. Knight, Assigfgfit City Wttorney JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Carole A. Collier, whose address is 4415 1 Oth Street, Lubbock, Texas 79416-4825, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley, between 1 Oth Street and 11 th Street from Salem Avenue east to Quaker Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: West Gate Drive, East 10' of Lot 14 and Lot 15 less the East 12', Block 17 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. 0 All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Carole A. Collier 4415 loth Street Lubbock, Texas 79416-4825 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 "VA This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this Z l day of , 2003. CITY OF LUBBOC EXAS OWNER Y OUGAL, MAYOR Carole A. Collier r ATTEST: (Spouse's signature is required if Owner Qa�� is married) Re cca Garza, City Secretary APPROVED AS TO FORM: ohn M. Knight, As 'scant Ci Attorney JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Hugo D. Marple, whose address is 4417 loth Street, Lubbock, Texas 79416-4825 , hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley, between loth Street and IIth Street from Salem Avenue east to Quaker Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: West Gate Drive, West 110' of Lot 14, Block 17 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder` hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. /M Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Hugo D. Marple 4417 loth Street Lubbock, Texas 79416-4825 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this Z 1 day of 4& 1_ , 2003. CITY OF LUBBOCK, MAYOR ATTEST: Reh ca Garza_ Citv Secretary APPROVED AS TO FORM: M. Knight, Assis a ity Att ey ]K:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 OWNER (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Ludwig Teinert, whose address is 4411 1 Oth Street, Lubbock, Texas 79416-4825, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley, between 1 Oth Street and 11 th Street from Salem Avenue east to Quaker Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: West Gate Drive, West, Lot 17, Block 17 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An 'Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof, (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Ludwig Teinert 4411 loth Street Lubbock, Texas 79416-4825 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 C XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this /9 day of 12003. CITY OF LUBBOCK, MAYOR ATTEST: C� jgz��� Reb cca Garza, City Secretary APPROVED AS TO FORM: M. Knight, Assis ity A ey ]K:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 OWNER - Lll=n,"�,- < Ludwig Teinert (Spouse's signature is required if Owner is married) C AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and W.G. McMillan, Jr., whose address is P O Box 1447, Lubbock, Texas 79408-1447, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley, between loth Street and llth Street from Salem Avenue east to Quaker Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: West Gate Drive, Lot 4, Block 17 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof, (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: W.G. McMillan, Jr. P O Box 1447 Lubbock, Texas 79408-1447 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this day of 2003. CITY OF LUBBOCK,, MAYOR ATTEST: Reb6cca Garza, City Secretary APPROVED AS TO FORM: i -RZ, o JK:ml\CityAttVohn\Contracts\Assessment Paving Agreement 2001 January 7, 2003 OWNER 4 � r W.G.AMcMillan, Jr. (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK \ �� This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Rex and Gloria Fuller, whose address is 4520 11 th Street, Lubbock, Texas 79416-4816, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley, between loth Street and llth Street from Salem Avenue east to Quaker Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Rushland Park, Lot 1, Block 20 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. (� C VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. r XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Rex and Gloria Fuller 4520 11th Street Lubbock, Texas 79416-4816 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 t XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this ) L day of JeyW 1* cz CITY OF GAL, MAYOR ATTEST: Q_A4�a� , 5t�� _ Rebecca Garza, City Secretary AS TO APPROVED AS TO FORM: 9 ohn M. Knight, As ' nt Cit ttorney JK:mt\CityAtt\John\Contmcts\Assessment Paving Agreement 2001 January 7, 2003 OWNER R&Tuller Glo 'a Fuller 2003. (Spouse's signature is required if Owner is married) C AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK 6� This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and J. Carter and Dianne Snodgrass, whose address is 544WRPRh Street, Lubbock, Texas 79424-2803, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley, between loth Street and IIth Street from Salem Avenue east to Quaker Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: ,-14k West Gate Drive, East 115.69' of Lot 11, Block 17 III. FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. C VII. An 'Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or y enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. Kq Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: J. Carter and Dianne Snodgrass 5415 79th Street Lubbock, Texas 79424-2803 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 K"T This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this day of L , 2003. CITY OF LUBBOCK, MCD,OUGAL. MAYOR ATTEST: Rebecca Garza, City Secretary APPROVED AS TO FORM: JK:ml\CityAttUohn\Contracts\Assessment Paving Agreement 2001 January 7, 2003 OWNER �, J�, K G` C ter Snodgrass Dianne Snodgrass (Spouse's signature is required if Owner is married) No Text AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Scott E. Zapalac and Patti Patterson , whose address is 4403 loth Street, Lubbock, Texas 79416-4825, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley, between loth Street and 11 th Street from Salem Avenue east to Quaker Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: No Text West Gate Drive, Lot 21, Block 17 III. FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. W All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An 'Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Scott E. Zapalac and Patti Patterson 4403 loth Street Lubbock, Texas 79416-4825 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this 13 day of /�„u,, , 2003. CIWOFLJMBO K, T S OWNER By MAC M DOS GAL, MAYOR Sco E. c 7 P atterson ATTEST: (Spouse's signature is required if Owner is married) Re ecca Garza, City Secretary APPRO AS TO TENT: 7 La tier y ngineer APPROVED AS TO FORM: M. Knight, A ' ant Attorney JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 0 AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Angelina B. Moses, whose address is 4423 loth Street, Lubbock , Texas 79416-4825, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley, between loth Street and llth Street from Salem Avenue east to Quaker Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Rushland Park, Lot 3, Block 20 III. FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. KIM Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Angelina B. Moses 4423 loth Street Lubbock, Texas 79416-4825 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this day of — , 2003. CITY OF LUBBOCK, TEXAS OWNER ByAOUGAL, MAYOR Ange ina B. Mose ATTEST: e cca Garza, City Secretary AS Larry Her;&, City Engineer APPROVED AS TO FORM: 11 ohn M. Knight, A ant Cit ttorney JK:ml\CityAtt\lohn\Contracts\Assessment Paving Agreement 2001 January 7, 2003 (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Clifford B. Fedler, whose address is 4419 1 Oth Street, Lubbock, Texas 79416-4825, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley, between IOth Street and llth Street from Salem Avenue east to Quaker Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: West Gate Drive, East 10' of Lot 12 and Lot 13, Block 17 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. 0 All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Clifford B. Fedler 4419 loth Street Lubbock, Texas 79416-4825 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this 8' day of , 2003. CITY OF LUBBOCK. XEXAS OWNER �: F0,00' �i r0- "I==-- 11ffJ,'1JW�i-)OUGAL,•R ATTEST: Rebecca Garza, City Secretary APPRO ASATTENT: arry Herte , t Engineer APPROVED AS TO FORM: i o M. Knight, stant Attorney ]K:ml\CityAttUohn\Contracts\Assessment Paving Agreement 2001 January 7, 2003 (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Edward H. Attebury, whose address is 4402 11 th Street, Lubbock, Texas 79416-4814, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley, between loth Street and 11 th Street from Salem Avenue east to Quaker Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: West Gate Drive, Lot 1, Block 17 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. a All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. K4 Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Edward H. Attebury 4402 1 lth Street Lubbock, Texas 79416-4814 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 KUT This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this ,t ay of r " % , 2003. CITY OF LUBBOCK TEXAS UGAL, MAYOR ATTEST: - at .6 ^ -,e —e-. h-� Rebecca Garza, City Secretary APPROVED AS TO FORM: ohn M. Knight, istant CKAttorney JK:ml\CityAtt\John\ContractsWssessment Paving Agreement 2001 January 7, 2003 OWNER -E4,� Edward H. Attebu f jiff. (Spouse's signatur6As required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK I t P This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and John R. and Vicki T. Marchbanks, whose address is 4502 11 th Street, Lubbock, Texas 79416-4816, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley, between 1Oth Street and 11th Street from Salem Avenue east to Quaker Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: West Gate Drive, Lot 5, Block 17 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. 0 All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or No Text enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. W Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: John R. and Vicki T. Marchbanks 4502 11 th Street Lubbock, Texas 79416-4816 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 WA This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this to day of , 2003. CITY OF L N. By: AR DOUGAL, MAYOR J R. Marchbanks Vicki T. archbanks ATTEST: (Spouse's signature is required if Owner P, is married) Reb cca Garza, City Secretary APPROVED AS TO FORM: i M. Knight, As ' nt Cit ttomey JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 e- fy t, AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Cuyler C. Lawrence, whose address is 4506 1lth Street, Lubbock, Texas 79416-4816, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley, between loth Street and llth Street from Salem Avenue east to Quaker Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: West Gate Drive, Lot 7, Block 17 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. C, C VII. An 'Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. K4 Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Cuyler C. Lawrence 4506 11th Street Lubbock, Texas 79416-4816 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this day of , 2003. CITY OF By: v RC ATTEST: GAL, MAYOR Reb cca Garza, City Secretary APPRO AS TO TENT: Larry Hert ity Engineer APPROVED AS TO FORM: I M. Knight, Assist lty Atto ey JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 OWNER C.Z� e' -,Y Cuyl C. Lawrence (Spouse's si ture is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Barbara A. McDougal, Trustee, whose address is 4508 1 lth Street, Lubbock, Texas 79416-4816, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley, between IOth Street and IIth Street from Salem Avenue east to Quaker Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: West Gate Drive, Lot 8, Block 17 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. 0 All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof, (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Barbara A. McDougal, Trustee 4508 11 th Street Lubbock, Texas 79416-4816 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this day of , 2003. CITY OF Lt By: M RC M ATTEST: MAYOR Reb ca Garza, City Secretary APPROVED AS TO FORM: JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 OWNER u-r Barbara A. McDougal, Trustee M , %J �^ (Spouse's signature ih required if Ow er is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Ronald J. and Gay W. Herrin, whose address is 4510 11th Street, Lubbock, Texas 79416-4816, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W Alley, between 10th Street and 11 th Street from Salem Avenue east to Quaker Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: C C: West Gate Drive, Lot 9, Block 17 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. c: c VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. El Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof, (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Ronald J. and Gay W. Herrin 4510 11 th Street Lubbock, Texas 79416-4816 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this day of 52003. CITY OF L M. C MCDOUGAL, MAYOR ATTEST: R ecca Garza, City Secret APPROVED AS TO FORM: M. Knight, Assi nt City Afforney [slut \I 91:� JK:mI\CityAtt'John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 r Gay W.Ulerrin (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Joyce L. Johnson, whose address is 4612 9th Street, Lubbock, TX 79416-4711, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W ALLEY between 8th St. and 9th St. from Salisbury Ave. East to Salem Ave., have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Rushland Park, Lot 6, Block 24 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (115) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. 0 All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IM No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Joyce L. Johnson 4612 9th Street Lubbock, TX 79416-4711 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this 12 day of 2003. CITY OF LUBB CE, EXAS By: ARC C OUGAL, MAYOR ATTEST: Re cca Garza, City Secretary APPRO AS TO NTENT: L Herte City ngineer t APPROVED AS TO FORM: ohn M. Knight, Assisfg& City Af forney OWNER Fyc . Johnson JK:tnl\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 (Spouse's signature is required if Owner is married) C AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Verlon Bigham, whose address is 4610 9th Street, Lubbock, TX 79416-4711, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W ALLEY between 8th St. and 9th St. from Salisbury Ave. East to Salem Ave., have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Rushland Park, Lot 5, Block 24 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Verlon Bigham 4610 9th Street Lubbock, TX 79416-4711 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this �2 day of a1► ® . 2003. CI' M. ATTEST: "AL" (Spouse's signature is requir�wner is married) Re ecca Garza, City Secret APPRO AS arry Hert1ty Irngineer APPROVED AS TO FORM: ohn M. Knight, ant C' Attorney JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 C AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Bobby G. Day, whose address is 6309 Indiana Avenue, #B, Lubbock, TX 79413-5739, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W ALLEY between 8th St. and 9th St. from Salisbury Ave. East to Salem Ave., have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Rushland Park, Lot 4 and West 15' of Lot 3, Block 24 III. FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Bobby G. Day 6309 Indiana Avenue, #B Lubbock, TX 79413-5739 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 %TA This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this day of , 2003. MAYOR Bobby G ATTEST: (Spouse's si attire is is married) Reb cca Garza, City Secret APPROVED AS TO FORM: i M. Knight, Assdfant bq6<ttorney JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 c AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Melvin E. Laski, whose address is 4604 9th Street, Lubbock, TX 79416-4711, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W ALLEY between 8th St. and 9th St. from Salisbury Ave. East to Salem Ave., have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Rushland Park, East 97' of Lot 2 and West 18' of Lot 1, Block 24 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. a Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. M. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Melvin E. Laski 4604 9th Street Lubbock, TX 79416-4711 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this 2 day of , 2003. A CITY OF LUB C EXAS OWNS 41 By. MARC MCD UGAL, MAYOR Melvin . Laski ATTEST: 4Reecca Garza, City Secret APPROV S T1 NTENT: arry HertCity Engineer APPROVED AS TO FORM: ohn M. Knight, A ant Ci Attorney JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 �6 —0 3 (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and R. Randall and A. Susan Reber, whose address is 4613 8th Street, Lubbock, TX 79416-4704, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W ALLEY between 8th St. and 9th St. from Salisbury Ave. East to Salem Ave., have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Rushland Park, Lot 7, Block 24 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. 13 Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof, (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: R. Randall and A. Susan Reber 4613 8th Street Lubbock, TX 79416-4704 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive iaws or the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this day of 2003. CITY OF LUBB K, TE S By: MAC MCDOTJGAL, MAYOR ATTEST: Robecca Garza, City Secret APPROWD AS TO TENT: Larry Hert, City Enginee APPROVED AS TO FORM: ohn M. Knigh , As ' t Cit torney JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 CWill 2 R.R dal "Reber A.Su an Reber (Spouse's signature is re ired if Owner is married) AGREEMENT ty Of whose 2001 t/alley of the nt by cribed e City rs for or the itions awing on or not to not ner of is as 2003 STATE OF TEXAS CITYMORNEY COUNTY OF LUBBOCK e This Agreement is entered into at Lubbock, Texas, by and between the Ci Lubbock, Texas, hereinafter referred to as "City", and Lester E. Walcott Trust, address is P.O. Box 16626, Lubbock, TX 79490-6626, hereinafter referred to as "Owner". WITNESSETH: ry WHEREAS, more than fifty percent (50%) of the abutting property owne the street/alley located, E-W ALLEY between 8th St. and 9th St. from Salisbu Ave. East to Salem Ave., have petitioned the City to pave such street/alley as part of the Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the stree for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest citizens of the City Of Lubbock to enter into an agreement with Owner to provide f construction of improvements to the said street/alley and to provide for payme Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and cond herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 P Assessment Program and to pave or contract for paving of such street/alley. II. an Owner understands and agrees that the enhancement value of the above -des improvements established by the governing body of the City at a public hearing about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay th for the actual construction cost of the above -described improvements, in an amount exceed $16.00 per linear foot of abutting property. The amount to be charged is assessment, but shall be a voluntary personal liability and charge against the Ow the abutting property. The legal description/address for the Owner's property follows: Rushland Park, West 108' of Lot 9, Block 24 III. FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (115) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. /W Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. MI. M Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Lester E. Walcott Trust P.O. Box 16626 Lubbock, TX 79490-6626 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. t Executed this—_� day of i4 , 2003. { J CITY OF L MAYOR ATTEST: R b ca Garza, City Secretary APPROVED AS TO FORM: A ohn M. Knight, As4ofgt ti#4ttorney JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 OWN R 7< �)eo �0, e Lester E. W/dlcott Tru (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Milton Vaughn, whose address is 4605 8th Street, Lubbock, TX 79416-4704, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W ALLEY between 8th St. and 9th St. from Salisbury Ave. East to Salem Ave., have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Rushland Park, West 102' of the East 104' of Lot 11, Block 24 III. FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (115) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. IN All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An 'Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Milton Vaughn 4605 8th Street Lubbock, TX 79416-4704 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this-J—day of , 2003. CITY OF L By: ZeZ ATTEST: MAYOR (Q.0 04R-ot� �.n:�NV-N — Re ecca Garza, City Secretary APPROV S TO O TENT: Larry Hertel, ity ngineer APPROVED AS TO FORM: M. Knight, Ass'Assig ant Ci Attorney JK:mI\CityAtt\lotm\Contracts\Assessment Paving Agreement 2001 January 7, 2003 OWNER Milton Vaughn 1W " -1; (Spouse's signature i required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Richard K. and Kimberly R. Kirkpatrick, whose address is 4603 8th Street, Lubbock, TX 79416-4704, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W ALLEY between 8th St. and 9th St. from Salisbury Ave. East to Salem Ave., have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Rushland Park, East 2' of Lot 11 and Lot 12, Block 24 III. FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. a Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Richard K. and Kimberly R. Kirkpatrick 4603 8th Street Lubbock, TX 79416-4704 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this Zc? day of 07 a , 2003. 14 CITY OF L I0 GAL, MAYOR ATTEST: Reb ca Garza, City Secretary APPRUV S TO CO T: Larry Hertel, Engineer APPROVED AS TO FORM: M. Knight, Assist ity A ey JK:ml\CityAtt\lohn\Contracts\Assessment Paving Agreement 2001 January 7, 2003 OWNER -g-� /�� / Richard K. Kirkpatrick G1 Kimberly R. K*kpatrick' v (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and J. Max Word, whose address is 4512 9th Street, Lubbock, TX 79416-4709, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, E-W ALLEY between 8th St. and 9th St. from Salisbury Ave. East to Salem Ave., have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Rushland Park, East 111.61' of lot 3 and West 32.24' of lot 2, Block 24 III. FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (115) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. K4 Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. k_ Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: J. Max Word 4512 9th Street Lubbock, TX 79416-4709 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this day of , 2003. CITY ;OFUBBO TE S OWNER By: /WkC CDOUGAL, MAYOR J. NhpWord ATTEST: (Spouse's signature is required if Owner is married) RZ-be6ca Garza, City Secretary APPRO S TO ENT: Larry Hertel, ity ngineer APPROVED AS TO FORM: M. Knight, Assi4fgfrCity Aftorney JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Donna J. Thetford, whose address is 7807 Zoar Avenue, Lubbock, TX 79424-3014, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-SHAPED ALLEY between 77th St./York Ave. and 78th St./Zoar Ave. from Slide Road. To 79th St., have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Woodland Park, Lot 162 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Donna J. Thetford 7807 Zoar Avenue Lubbock, TX 79424-3014 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 M. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this Z8 day of )2003. 71 — — - -- P - CITY OF LUBBOCK, MAYOR ATTEST: ! Re ecca Garza, City Secretary APPROVED AS TO FORM: M. Knight, XssiAwirCity ktomey JK:ml\CityAtt\lohn\Contracts\Assessment Paving Agreement 2001 January 7, 2003 OWNER Donna J. Thetford � / (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Dusty Lee and Brenda Lynn Thrash, whose address is 7803 Zoar Avenue, Lubbock, TX 79424-3014, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-SHAPED ALLEY between 77th St./York Ave. and 78th St./Zoar Ave. from Slide Rod. To 79th St., have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Woodland Park, Lot 164 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or . enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. /01 Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Dusty Lee and Brenda Lynn Thrash 7803 Zoar Avenue Lubbock, TX 79424-3014 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 b This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this �� day of ,r 2003. CITY OF L GAL, MAYOR ATTEST: YS R ecca Garza, City Secretary APPRO# AS TO TENT• arry Hertel,/itEngine APPROVED AS TO FORM: M. Knight, As ' ant C' Attorney JK:mI\CityAttVohn\Contracts\Assessment Paving Agreement 2001 January 7, 2003 W Dusty Lee Tlysh Brenda Lynn Thrash (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Christopher S. and Kelli L. Kemp, whose address is 7809 Zoar Avenue, Lubbock, TX 79424-3014, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-SHAPED ALLEY between 77th St./York Ave. and 78th St./Zoar Ave. from Slide Rod. To 79th St., have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Woodland Park, Lot 161 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An 'Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Christopher S. and Kelli L. Kemp 7809 Zoar Avenue Lubbock, TX 79424-3014 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this Z day of �— CITY OF LUBBOCK, S By: I�IARC MCD UGAL. MAYOR ATTEST: QAA"r � Re ecca Garza, City Secretary APPRO AST NTEN arry Herte , City Engineer APPROVED AS TO FORM: M. Knight, Assis City Aftomey JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 2003. (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Mose Eilenberger, III, whose address is 7704 York Avenue, Lubbock, TX 79424-3007, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-SHAPED ALLEY between 77th St./York Ave. and 78th St./Zoar Ave. from Slide Road. To 79th St., have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Woodland Park, Lot 155 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Mose Eilenberger, III 7704 York Avenue Lubbock, TX 79424-3007 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 01- XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this day of �- , 2003. CITY OF LUBBOCK XZXAS OWNER By: ARC WC96UGAL, MAYOR Mose Eilenberger, III ATTEST: Re ecca Garza, City Secretary APPRO AS TO NTENT arry Hertel Ci y Engine APPROVED AS TO FORM: M. Knight, Assis Crt ttorney JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and R.L. Rhoten, whose address is 5101 77th Street, Lubbock, TX 79424-3010, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-SHAPED ALLEY between 77th St./York Ave. and 78th St./Zoar Ave. from Slide Road. To 79th St., have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Woodland Park, Lot 153 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An 'Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: R.L. Rhoten 5101 77th Street Lubbock, TX 79424-3010 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this 7 day of 2003. CITY OF L AL, MAYOR ATTEST: R ecca Garza, City Secretary APPROV AS TO TENT: rry Hertel, ity Engineer APPROVED AS TO FORM: M. Knight, AssisiantTity Aiforney ]K:ml\CityAttVohn\Contracts\Assessment Paving Agreement 2001 January 7, 2003 OWNER ,X �A R.L. Rhoten (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and A.C. Bowden and Josephine Bowden Living Trust, whose address is 5103 77th Street, Lubbock, TX 79424-3010, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-SHAPED ALLEY between 77th St./York Ave. and 78th St./Zoar Ave. from Slide Road. To 79th St., have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Woodland Park, Lot 152 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (115) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or 1 enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: A.C. Bowden and Josephine Bowden Living Trust 5103 77th Street Lubbock, TX 79424-3010 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this Zc3 day of > 2003. CITY OF L ATTEST: OWNER 0 C. 4-bw,1 MAYOR A.C. Bowden Reb ca Garza, City Secretary APPROVED AS TO FORM: 0 M. Knight, Assis City Attorney JK:ml\CityAttVohn\Contracts\Assessment Paving Agreement 2001 January 7, 2003 Jo Nine Bowden Living Trust (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Douglas K. and Sherry W. Saffle, whose address is 5105 77th Street, Lubbock, TX 79424-3010, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-SHAPED ALLEY between 77th St./York Ave. and 78th St./Zoar Ave. from Slide Road. To 79th St., have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Woodland Park, Lot 151 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (S%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (115) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Douglas K. and Sherry W. Saffle 5105 77th Street Lubbock, TX 79424-3010 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 1� This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this t � day of , 2003. CITY OF LL By: MARC M ATTEST: MAYOR Re ecca Garza, City Secretary APPROVED AS TO FORM: M. Knight, Assisiagftity AVomey JK:ml\CityAttUohn\Contracts\Assessment Paving Agreement 2001 January 7, 2003 OWNER Douglas K. Saffle Sherry W. Safff (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Samuel D. and Nancy L. Bruce, whose address is 7702 York Avenue, Lubbock, TX 79424-3007, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-SHAPED ALLEY between 77th St./York Ave. and 78th St./Zoar Ave. from Slide Road. To 79th St., have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Woodland Park, Lot 154 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. C C� XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. a "IF All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Samuel D. and Nancy L. Bruce 7702 York Avenue Lubbock, TX 79424-3007 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 a XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed thisday of v v , 2003. CITY OF LUBBOCK, GAL, MAYOR ATTEST: 0, ti, .4 eZ4 - -W - Re cca Garza, City Secretary APPROVED AS TO FORM: M. Knight, AssisigifCity Afforney JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 OWNER Samuel D. Bruce Nancy . Bnt& (Spouse's signature is required if Owner is married) c AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Nick C. Parker, whose address is 7805 Zoar Avenue, Lubbock, TX 79424-3014, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-SHAPED ALLEY between 77th St./York Ave. and 78th St./Zoar Ave. from Slide Road. To 79th St., have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Woodland Park, Lot 163 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (115) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. IV All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default" hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Nick C. Parker 7805 Zoar Avenue Lubbock, TX 79424-3014 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 C XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this Z fo day of 52003. CITY OF LUBBOCK, IM MAYOR ATTEST: Rebtcca Garza, City Secretary APPROVED AS TO FORM: . Knight, Assi t City ttorney eMy JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 OWNER (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Paula M. Sferes, whose address is 7706 York Avenue, Lubbock, TX 79424-3007, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-SHAPED ALLEY between 77th St./York Ave. and 78th St./Zoar Ave. from Slide Road. To 79th St., have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Woodland Park, Lot 156 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). "T Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. 1� All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof, (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. C XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Paula M. Sferes 7706 York Avenue Lubbock, TX 79424-3007 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 i XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this �28 day of 12003. CITY OF LUBROCK, MAS OWNER By:////, - --Z A J 5 OUGAL, MAYOR Paula M. Sferes ATTEST: (Spouse's signature is required if Owner Q-A Aac-..t _e_ T��, , is married) Reb cca Garza, City Secretary APPROVED AS TO FORM: )�ed- Knight, Assi City orney JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Jim Bob Darnell, whose address is 7801 Zoar Avenue, Lubbock, TX 79424-3014, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-SHAPED ALLEY between 77th St./York Ave. and 78th St./Zoar Ave. from Slide Road. To 79th St., have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Woodland Park, Lot 165 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An 'Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. /a Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Jim Bob Darnell 7801 Zoar Avenue Lubbock, TX 79424-3014 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 /M� This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this day of 22)-w—e,-4-,2003. CIWLUBBOCERAS OWNER By: , MAYOR Bob Da ATTEST: (Spouse's signature is required if Owner (1 _ u is married) Relfecca Garza, City Secretary APPROVED AS TO FORM: M. Knight, Assi;twffflty AAKmey JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Steven J. and Laura C. Hill, whose address is 4211 85th Street, Lubbock, Texas 79423-1931, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-shaped Alley between 85th Street and 86th Street/Oxford Avenue from 85th Street to Oxford Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: r Crown Pointe Addition, Lot 12 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. 0 All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. /M Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Steven J. and Laura C. Hill 4211 85th Street Lubbock, Texas 79423-1931 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this � day of P t2� 52003. CITY OF LUBBOCK, By: ItIl, RC ATTEST: GAL, MAYOR Reb cca Garza, City Secretary AS Engineer APPROVED AS TO FORM: o M. Knight, Assi ity orney JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Timothy D. and Elizabeth A. Williams, whose address is 4304 94th Street, Lubbock, Texas 79423-3958, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-shaped Alley between 85th Street and 86th Street/Oxford Avenue from 85th Street to Oxford Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Crown Pointe Addition, Lot 17 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An 'Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no -exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. 91 Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Timothy D. and Elizabeth A. Williams 4304 94th Street Lubbock, Texas 79423-3958 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 NTA This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this / 3 day of �iu. 2003. CITY OF GAL, MAYOR ATTEST: Reb cca Garza, City Secretary APPRO AS T C NT NT Larry ertCity ngineer APPROVED AS TO FORM: M. Knight, Assi ity orney JK:ml\CityAtt\lohn\Contracts\Assessment Paving Agreement 2001 January 7, 2003 1 A/► C Pfiothy D. Williams ue ElizReth A. Williams (Spouse's signature is required if Owner is married) GI AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Paul P. and Barbara D. Brooke, whose address is 4114 86th Street, Lubbock , Texas 79423-2914, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-shaped Alley between 85th Street and 86th Street/Oxford Avenue from 85th Street to Oxford Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Kings Row Addition, Lot 46 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An 'Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Paul P. and Barbara D. Brooke 4114 86th Street Lubbock, Texas 79423-2914 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 1M This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this C7b4 day of CITY OF L M. MAYOR Paul P. Brooke, Jr. Barbara D. Brooke/ ATTEST: Reb cca Garza, City Secretary APPROV S ZTOtTENT: tl Larry fiertjycdy ngineer APPROVED AS TO FORM: M. Knight, As ant Cit Attorney JK:mI\CityAtt\Jolm\Contracts\Assessment Paving Agreement 2001 January 7, 2003 (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Tim and Jocelyn Garrett, whose address is 4112 86th Street, Lubbock , Texas 79423-2914, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-shaped Alley between 85th Street and 86th Street/Oxford Avenue from 85th Street to Oxford Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: Kings Row Addition, Lot 45 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. 0 All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. VII. An 'Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. KI Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. 0 • All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Tim and Jocelyn Garrett 4112 86th Street Lubbock, Texas79423-2914 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 WTA This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this day of 2003. CITY OF LL By: CM ATTEST: UGAL, MAYOR Rebe&a Garza, City Secretary APPROVED AS TO FORM: 1 M. Knight,,A�sgfgranf Ci Attorney JK:m1\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 Tim Garrett--' 0 (Spouse's signature is required if Owner is married) AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Joyce C. Craft, whose address is 3112 76th Street, Lubbock , Texas 79423-1311, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-shaped Alley between 85th Street and 86th Street/Oxford Avenue from 85th Street to Oxford Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: No Text Kings Row Addition, Lot 44 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. 0 All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. No Text VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or No Text enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. No Text XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Joyce C. Craft 3112 76th Street Lubbock, Texas 79423-1311 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 No Text , , . a tom This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this i Ll day of _ _ , 2003. CITY OF LUBBOCK, GAL, MAYOR ATTEST: Reb cca Garza, City Secretary APPRO ,AS APPROVED AS TO FORM: M. Knight, Assi t Cit ttorney JK:m]\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 OWNER I j4ie C. Itraft (Spouse's signature is r ired if Owner is married) {...., �.., J AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Thomas R. and Ann C. West, whose address is 4104 86th Street, Lubbock , Texas 79423, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-shaped Alley between 85th Street and 86th Street/Oxford Avenue from 85th Street to Oxford Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: No Text Kings Row Addition, Lot 41 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. No Text VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or No Text enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. hq Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. No Text XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Thomas R. and Ann C. West 4104 86th Street Lubbock, Texas 79423 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 No Text XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. G Executed this / 5 day of --- 2003. CITY OF L MCDOUGAL, MAYOR ATTEST: Reb cca Garza, City Secretary APPRO AS TO TENT: arry Hert , Ci y Engineer APPROVED AS TO FORM: M. Knight, Assi City kforney JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 (Spouse's signature is required if Owner is married) No Text AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Brad Moran, whose address is 4606 17th Street, Lubbock, Texas 79416-5706, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-shaped Alley between 85th Street and 86th Street/Oxford Avenue from 85th Street to Oxford Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: C� Kings Row Addition, Lot 40 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (115) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. C �? C C C_ VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or (f 1 � enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. No Text XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Brad Moran 4606 17th Street Lubbock, Texas 79416-5706 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 No Text WA This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this /Z day of 2003. CITY OF L L-In MARC MCDO)UGAL, MAYOR ATTEST: 0, A,—,, � I clsgn, /-� Re cca Garza, City Secretary APPROVED AS TO FORM: M. Knight, As46f9t Cit ttorney JK:mI\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 OWNER Brad`Moran Cf�� (Spouse's signature is required if Owner is married) No Text AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Rodger Dennis and Verna A. Kimble, whose address is 8508 Oxford Avenue, Lubbock , Texas 79424, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-shaped Alley between 85th Street and 86th Street/Oxford Avenue from 85th Street to Oxford Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: No Text Kings Row Addition, Lot 39 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. 0 All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. No Text VII. An 'Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or No Text enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. No Text Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. �� All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Rodger Dennis and Verna A. Kimble 8508 Oxford Avenue Lubbock, Texas 79424 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 No Text XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this ec3�day o 2003. CITY OF L I0 GAL, MAYOR ATTEST: Re ecca Garza, City Secretary APPRO AS TO NTENT: Xarr�rffeE4�l y ngineer APPROVED AS TO FORM: r M. Knight, Ass' nt City ttorney JK:mt\CityAttVohn\Contracts\Assessment Paving Agreement 2001 January 7, 2003 OWNER Verna A. Kimble (Spouse's signature is required if Owner is married) No Text AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Gary W. and Terri D. Ashby, whose address is 8506 Oxford Avenue, Lubbock, Texas 79423-1922, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-shaped Alley between 85th Street and 86th Street/Oxford Avenue from 85th Street to Oxford Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: No Text Kings Row Addition, Lot 38 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. No Text VII. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or No Text enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. No Text XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Gary W. and Terri D. Ashby 8506 Oxford Avenue Lubbock, Texas 79423-1922 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 No Text "TA This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this 1 day of A 72003. CITY OF LUBBOCK, XAS By: MARC MCA50UGAL, MAYOR ATTEST: QA4�� '�� - Reb cca Garza, City Secretary APPROVED AS TO FORM: M. Knight, Asisislant Ci Attorney JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 (spouse's signature is required it Uwner is married) No Text d AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Lewis Wayne and Claudette Culp, whose address is 8502 Oxford Avenue, Lubbock, Texas 79423-1922, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-shaped Alley between 85th Street and 86th Street/Oxford Avenue from 85th Street to Oxford Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: No Text Kings Row Addition, Lot 36 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. No Text VII. An 'Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or No Text enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. 1W Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. M Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. No Text XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Lewis Wayne and Claudette Culp 8502 Oxford Avenue Lubbock, Texas 79423-1922 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 No Text XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this day of Q__, 2003. CITY OF LUBBOCK, TEXAS IM OWNER —,ke, RC Mr UGAL, MAYOR Lewis Wayne Culp( Claudette Culp ATTEST: Rebecca Garza, City Secret APPROVED AS TO FORM: JK:mI\CityAttUohn\Contracts\Assessment Paving Agreement 2001 January 7, 2003 (Spouse's signature is required if Owner is married) No Text C� AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Dewayne E. and Tana L. Askins, whose address is 8412 Oxford Avenue, Lubbock, Texas 79423-1920, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-shaped Alley between 85th Street and 86th Street/Oxford Avenue from 85th Street to Oxford Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as\ follows: No Text Kings Row Addition, Lot 35 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. No Text C: C VII. An 'Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. V III. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or No Text enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. X. Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof, (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. No Text XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Dewayne E. and Tana L. Askins 8412 Oxford Avenue Lubbock, Texas 79423-1920 Payee: City of Lubbock Accounting Department P.O. BOX 2000 Lubbock, Texas 79457 AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Joyce C. Craft, whose address is 3112 76th Street, Lubbock , Texas 79423-1311, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-shaped Alley between 85th Street and 86th Street/Oxford Avenue from 85th Street to Oxford Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: No Text t.....^, � �^ k �, .'�li No Text No Text {...., �.., J No Text No Text No Text No Text No Text No Text C� (f 1 � No Text No Text No Text No Text No Text No Text No Text No Text No Text No Text No Text No Text No Text No Text No Text No Text No Text No Text No Text No Text No Text No Text No Text No Text No Text No Text No Text XV. This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this day of CITY OF L L-In UGAL, MAYOR ATTEST: Rebecca Garza, City Secretary APPRO AS T ONTENT- arty Hert ty ngmeer APPROVED AS TO FORM: M. Knight, AssisjoiftCity Adorney JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 2003. C1110WI D1:7 Dewayn .Askins Tana L. Askins (Spouse's signature is required if Owner is married) No Text AGREEMENT STATE OF TEXAS COUNTY OF LUBBOCK This Agreement is entered into at Lubbock, Texas, by and between the City Of Lubbock, Texas, hereinafter referred to as "City", and Mark P. and Peggy Diane Harlan, whose address is 8410 Oxford Avenue, Lubbock, Texas 79423-1920, hereinafter referred to as "Owner". WITNESSETH: WHEREAS, more than fifty percent (50%) of the abutting property owners for the street/alley located, U-shaped Alley between 85th Street and 86th Street/Oxford Avenue from 85th Street to Oxford Avenue, have petitioned the City to pave such street/alley as part of the 2001 Paving Assessment Program of the City; and WHEREAS, Owner has title to property which abuts a portion of the street/alley for which paving improvements have been requested; and WHEREAS, the City Council has determined that it is in the best interest of the citizens of the City Of Lubbock to enter into an agreement with Owner to provide for the construction of improvements to the said street/alley and to provide for payment by Owner for costs associated with the construction of same; NOW THEREFORE, for and in consideration of the covenants and conditions herein contained, City and Owner agree as follows: I. City agrees to include the above -described street/alley in its 2001 Paving Assessment Program and to pave or contract for paving of such street/alley. II. Owner understands and agrees that the enhancement value of the above -described improvements established by the governing body of the City at a public hearing on or about October 10, 2002, is not equal to the actual construction cost of the above - described improvements. In consideration for the City paving that portion of the above - described street/alley which abuts Owner's property, Owner herein agrees to pay the City for the actual construction cost of the above -described improvements, in an amount not to exceed $16.00 per linear foot of abutting property. The amount to be charged is not an assessment, but shall be a voluntary personal liability and charge against the Owner of the abutting property. The legal description/address for the Owner's property is as follows: No Text Kings Row Addition, Lot 34 FOR VALUE RECEIVED, the undersigned Owner hereby promises to pay to the order of City, at P.O. Box 2000, Lubbock, Texas 79457, or at such other address given to Maker by Payee, actual construction costs of the above -described improvements in an amount not to exceed sixteen and no/100 dollars ($16.00) per linear foot, or so much thereof as may be advanced prior to maturity, in lawful money of the United States of America, together with interest (calculated on the basis of a 360-day year) on the unpaid principal balance from day-to-day remaining, computed from the date of advance until maturity at the rate per annum which shall from day-to-day be equal to eight percent (8%) (the "Contract Interest Rate"). IV. Principal and accrued interest on this Agreement, computed as aforesaid, shall be due and payable as follows: The Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable as follows: (i) in (5) equal installments, each in the amount of one -fifth (1/5) of the actual costs of construction of the above -described improvements, commencing on thirty (30) days after the completion of the construction of the said improvements and the acceptance thereof by City and thereafter, on the anniversary day of each succeeding calendar year until such amount shall be paid in full. V. All past due principal and, to the extent permitted by applicable law, interest upon this Agreement shall bear interest at the Contract Rate, In the event that the annual payments provided for in this Note have not been paid and actually received by Payee on or before fifteen (15) days following their due date, a late charge of Fifteen and No/100 Dollars ($15.00), shall be assessed by City to cover the extra expense involved in handling delinquent payments. City shall not be obligated to accept any annual payment made after its due date, unless that annual payment shall be accompanied by the full amount of the late charges assessed by City as provided in this Agreement; however, in the event that a late monthly payment is accepted, that payment shall first be applied to late charges. VI. Owner hereby agrees to abide by any federal, state, and local law regarding this agreement. r, ._ .. ti Ci 4 V II. An "Event of Default" shall exist hereunder if any one or more of the following events shall occur: (a) Owner shall fail to pay when due any principal of, or interest on, this Agreement; (b) any written representation or warranty made by Owner to City shall prove to be untrue or inaccurate in any material respect; (c) default shall occur in the performance of any of the covenants or agreements of Owner contained herein or in any other document executed in connection herewith; (d) default shall occur in the payment of any material indebtedness of Owner, or any such indebtedness shall become due before its stated maturity by acceleration of the maturity thereof or otherwise; (e) Owner shall (1) apply for or consent to the appointment of a receiver, trustee, intervener, custodian or liquidator of itself or of all or substantial part of its assets, (2) become bankrupt or insolvent or file a voluntary petition for bankruptcy or admit in writing that it is unable to pay its debts as they become due, (3) make a general assignment for the benefit of creditors, (4) file a petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy or insolvency laws, or (5) file an answer admitting the material allegations or, or consent to, or default in answering, a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or take action for the purpose of effecting any of the foregoing; (f) an order, for relief, judgment or decree shall be entered by any court of competent jurisdiction or other competent authority approving a petition appointing a receiver, trustee, custodian, intervener or liquidator of Owner, or of all or substantially all of its assets, and such order, judgment or decree shall continue unstated and in effect for a period of sixty (60) days; (g) Owner fails to abide by any Federal, State or Local law which govern the terms of this to Agreement or (h) the occurrence of an event of default, as defined in Security Agreement as described below. VIII. Owner and any other party ever liable for payment of any sums of money payable upon this note, jointly and severally waive presentment, demand, protest, notice of protest and non-payment or other notice of default, notice of acceleration and intention to accelerate or other notice of any kind, and agree that their liability under this Agreement shall not be affected by an renewal or extension in the time of payment hereof, or in any indulgences, or by any release or change in any security for the payment of this Agreement, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. IX. No waiver by City of any of its rights or remedies hereunder or under any other document evidencing or securing this Agreement or otherwise, shall be considered a waiver of any other subsequent right or remedy of City; no delay or omission in the exercise or enforcement by City of any right or remedy of City; and no exercise or No Text enforcement of any such right rights or remedies shall ever by held to exhaust any right or remedy of City. W Upon the occurrence of any Event of Default hereunder or under any other agreement or instrument securing or assuring the payment of this Agreement or executed in connection herewith, then in any such event, the holder hereof may, at its option; (i) declare the entire unpaid balance of principal of and accrued interest upon the Agreement to be immediately due and payable without presentment or notice of any kind which Owner waives pursuant to the terms hereof; (ii) reduce any claim to judgment; and/or (iii) pursue and enforce any of City's rights and remedies available pursuant to any applicable law or agreement including, without limitation, foreclosing all liens and security interests securing payment thereof or any part thereof. XI. Any provision herein, or in any document securing this Agreement, or any other document executed or delivered in connection herewith, or in any other agreement or commitment, whether written or oral, expressed or implied, to the contrary notwithstanding, neither City nor any holder hereof shall in any event be entitled to receive or collect, nor shall any amounts received hereunder be credited, so that City or any holder hereof shall be paid, as interest, a sum greater than the maximum amount permitted by applicable law to be charged to the person, partnership, firm, corporation, or other legal entity primarily obligated to pay this note at the time in question. If any construction of this Contract or any document securing this Contract, indicate a different right given to City or any holder hereof to ask for, demand or receive any larger sum as interest, such is a mistake in calculation or wording which this clause shall override and control, it being the intention of the parties that this Agreement, and all other instruments securing the payment of this Agreement or executed or delivered in connection herewith shall in all things comply with applicable law and proper adjustments shall automatically be made accordingly. In the event that City or any holder hereof ever receives, collects or applies as interest, any sum in excess of the Contract Interest Rate, if any, such excess amount shall be applied to the reduction of the unpaid principal balance of this Agreement, and if this Agreement is paid in full, any remaining excess shall be paid to Owner. In determining whether or not the interest paid or payable, under any specific contingency, exceeds the Contract Interest Rate, if any, Owner and City or any holder hereof shall, to the maximum extent permitted under applicable law; (a) characterize any nonprincipal payment as an expense or fee rather than as interest; (b) exclude voluntary prepayments and the effects thereof; (c) "spread" the total amount of interest throughout the entire term of this Contract; provided, that if this Contract is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the contract interest rate, if any, City or any holder hereof shall refund to Owner the amount of such excess, or credit the amount of such excess against the aggregate unpaid principal balance of all advances made by City or any holder hereof under this Agreement at the time in question. �t..... .......,::i XII. Owner reserves the right to prepay the accrued interest on and the outstanding principal balance of this Agreement, in whole or in part, at any time and from time to time, without premium or penalty. Notwithstanding anything in this Agreement to the contrary, all amounts tendered as a prepayment shall first be applied to the payment of all accrued interest to the date of such prepayment and then to the outstanding principal balance of this Agreement. XIII. If this Agreement is placed in the hands of an attorney for collection, or if it is collected through any legal proceeding at law or in equity, or in bankruptcy, receivership or other court proceedings, Owner agrees to pay all costs of collection, including, but not limited to, court costs and reasonable attorneys' fees, including all costs of appeal. XIV. All demands, notices or other communications shall be in writing and shall be deemed given when delivered in person or deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, addressed to the party to be notified at the following address (or at such other address as may have been designated by written notice): Owner: Mark P. and Peggy Diane Harlan 8410 Oxford Avenue Lubbock, Texas 79423-1920 Payee: City of Lubbock Accounting Department P.O. Box 2000 Lubbock, Texas 79457 No Text M This Agreement is intended to be performed in the State of Texas. Except to the extent that the laws of the United States of America may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement and interpretation of this Agreement. In the event of a dispute involving this Agreement or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Lubbock County, Texas. Executed this_,6 day of 52003. CITY OF LUBBO TEXAS OWNER By: C MCIDOUGAL, MAYOR ATTEST: atte,,r-� Reb ca Garza, City Secretary APPROVED AS TO FORM: ohn M. Knight, As ' t City ttorney JK:ml\CityAtt\John\Contracts\Assessment Paving Agreement 2001 January 7, 2003 . Harlan r Peg ne Harlan (Spouse's signature is required if Owner is married) j" �