HomeMy WebLinkAboutResolution - 062763DD - Partial Release Of Vendors Lien- Lynnmark Investment Co Et Al- Sec. 17 Block D5 - 06/27/1963BJMc:lkm
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RESOLUTION0"
j WHEREAS,. Lynnmar_k Investment Company, a Texas Corporation, Buddy K.
-- I Hughes Land Company, a Texas Corporation, and Willojak Corporation, a Texas
-2' Corporation, executed a certain promissory Deed of Trust Note dated June 27, 1961
�and recorded in Volume 846, Page 587 of the Deeds Records of Lubbock County,
Texas; said note being secured by a vendor's lien on the real property described
therein, and further secured by a said Deed of Trust in favor of the City of Lubbock
WHEREAS, Lynnmark Investment Company, a Texas Corporation, Buddy K.
Hughes'Land Company, a Texas Corporation, and Willojak Corporation, a Texas
Corporation, have by this date paid the City of Lubbock the sum of $17, 190. 51 as
partial payment on the terms and tenor of the said promissory note, thereby dis-
charging a portion of the said promissory note; NOW THEREFORE:
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LUBBOCK:
SECTION 1. THAT the Mayor of Lubbock is hereby authorizdd and directed foz
and on behalf of the City of Lubbock to execute a partial release upon a form appro�a
by the City Attorney of the vendor's lien on (a portion of the property described here
below, when the fact of payment in full to the City of §ums_,due under the terms of
the said promissory note is certified to by the Director of Finance; said portionbei if
A tract of land out of Section 17, Block D-5, E. L. & R. R. RR Co.
Survey, Lubbock County, Texas, described as follows:
BEGINNING at. the intersection of the north line of Section 17, Block
D-5 and the south right of way line of the present highway, said right
of way width being 180 feet;
THENCE South 440 15' East along the highway right of way line a
distance of 3378. 21 feet to a point in the West line of a microwave
station site owned by the City of Lubbock;
THENCE South 450 45' West at right angles to the highway a distance
of 2015. 14 feet;
THENCE North 440 15' West a distance of 3378. 21 feet;
THENCE North 450 45' East a distance of 2015. 14 feet to the PLACE
OF BEGINNING, containing 156.28 acres.
SECTION 2. THAT the City Secretary -Treasurer is hereby directed to attest
the signature of the Mayor to the said partial release of the Vendor's lein and shall
affix the seal of the City of Lubbock thereto.
Passed by the City Commission this 27th da f JuAe 1963.
ATTEST: -f--_ -_-_----- - ____
J K F. S RONG, Maydr
Laven'a Lowe, City ecretary-Treasurer
THE STATE OF TEXAS I
KNOW AL1, MEN BY THESE PRESENTS:
COUNTYOF LUBBOCK I
THAT the. City of Lubbock, a Horne Rule Municipal Corporation of the
County of Lubbock, State of Texas, the legal owner and holder of that certain
vendor's lien promissory note in the principal sum of $85,952.55 described
in and secured by lien retained in deed, of the City of Lubbock to LYNN' MARK
INVESTMENT COMPANY,` a Texas Corporation, BUDDY K. HUGHESILAND
COMPANY, a 'Texas Corporation, and WILLOJA.K CORPORATION, a. Texas
Corporation, dated June 27, 1961, recorded in Volume 846, Page $87, Deed
Records, Lubbock County, Texas, and additionally secured by deed of trust
to Fred 5enter, Trustee, dated June 27, 1981, for and In consideration of
$17, 190.51 together with the interest due thereon, the receipt of,which is
hereby 'acknowledged, do hereby RELEASE unto the said LY'NNMARK INVEST-
MENT COMPANY, BUDDY K. HUGHES LAND COMPANY and WILLOJAK
CORPORATION, their successors and assigns, the vender's lien and deed of
trust lien retained in said above described deed and deed of trust on the follo-
wing portion of the property described in the above mentioned deed and deed
of trust, to -fait:
:A tract of land out of Section 17, Block D -S, E. L. & R. R. RR
Co. Survey, Lubbock County,Texas, described as follows:
BEGINNING at the intersection of the north line of Section 17,
Block D•5 and the south right of way line of the present highway,
said right of way width being 180 feet,
THENCE South 440 151 East abng the highway right of way tine a
distance of 3378.21 feet to a point in the West line of a microwave
station site owned by the City of Lubbock;
THENCE South 450 45' West at right angles to the highway a distance
of 2015.14 feet,
THENCE North 440 151 Wast a distance of 3578.21 feet;
THENCE North 450 451 East a distance of 2015. 14 feet to the
PLACE OF BEGINNING, containing 156.28 acres.
It is expressly agreed and understood that this is a partial release and
shall In no way affect the lien securing^tho° payment of the indebtedness des-
cribed in the said above mentioned deed and deed of trust on the remaining
property described in said deed and deed of trust..
Dated this the 27th day of J , . 1963.
JACK K. STRONG M_eyor------
ATTEST:
—--
ATTEST:
Laventa Lowe City t ecretary-Treasurer
THE STATE OF TEXAS
COUNTY OF LUBBOCK
BEFORE ME, the undersigned authority, a Notary Public In wd for
said County, Texas, on this day,personally appeared Jack F. Strong known
to me to be the person whose name is subscribed to the foregoing instrument
and acknowledged to me that he executed the same as the act and deed of the
CITY OF LUBBOCK and as MAYOR, for the purposes and consideration therein
expressed, and in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this day of
1963.
(SEAL)
Notary Public, Lubbock County, Texas.