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HomeMy WebLinkAboutResolution - 011341A - Contract Of Sale - Roy Cozart & Ray Farmer - Multiple Automobiles & A Building - 01/13/1941 i t THE STATE OF TEXAS CITY OF LUBBOCK On this the 13th day of January, A, D. 1941, at a call meeting of the City Commission of the City of Lubbock, Lubbock County, Texas, came on to be heard the application of Ray Farmer for approval of the purchase of the taxi cab busi- ness operated in the City of Lubbock by Roy Cozart under the assumed name of City Cab Company, and came on to be heard the application for approval of the contract of sale of all rights therein, including the transfer and assignment of the said Roy Cozart ' s permits and franchise rights granted him by the City of Lubbock, and such matters being presented to the City Commission, the City Commission is of the opinion that such contract and transfers and assignments should be by such Commission approved; It is, therefore, Ordered, Adjudged and Decreed by the City Commission of the City of Lubbock that such sale and transfer of said taxi cab business from Roy Cozart to Ray Farmer, both of the City of Lubbock, Lubbock County, Texas, be and is hereby in all things approved, and that the public convenience and necessity of the public of the City of Lubbock is best served by the approval of such sale and transfer and assignments, as herein set forth. It is further Ordered by said City Commission that the said Ray Farmer comply with all the requirements of the City of Lubbock and file such bonds as required with said City, and that upon the filing of said bonds properly proved, a permit will be issued to the said Ray Farmer, This ORDER passed this the 13th da oE January, A. Do 19410 Mayor of the'City of Lubbock ATTEST Secretary of the ty of Lubbock they following Commissioners being present and voting in the affirmative: W G MoMillan W B 15rioe Garland Newsom THE STATE OF TL ERAS CITY OF LUBBOCK On this the 13th day of January, A. D. 1941, at a call meeting of the, City Comraission of the City of Lubbock, Lubbock County, Texas, came on to be heard tl�e application of Ray Farmer for approval of the purchase of the taxi cab busi- ness operated in the City of Lubbock by Roy Cozart under the assumed name of City Cab Company, and came on to be heard the application for approval of the contract of sale of all rights therein, including, the transfer and assignment of tale said Roy Cozart's permits and franchise rights granted him by the City of Lubbock, .nd such matters being presented to the City Commission, the City Commission is of the opinion that such contract and transfers and assignments should be by such Commission approved; It is, therefore, Ordered, AdJudged and Decreed by the City CuMMission of tre City of Lubbock that such sale and transfer of said ta.ri cab business from Roy Cozart to Ray Farmer, both of the City of Lubbock, Lubbock County, Texas, be and is hereby in all things approved, and that the public convenience and necessity of the public of the City of Lubbock is best served by the approval of such sale &nd transfer avid assignments, as herein set forth. It is further Ordered b i said City Co-:L:iission that the said flay Farmer comply with all the reauiroments of the City of Lubbocr: and filo such bonds Las required with said City, and that upon the filing of said bonds properly proved, a permit will be issued to the said Ray Farmer. This ORDER passed this the 13th day of January, A. D. 1941.Ott r: } P?ayor f tie City of Lub ock AT W". Tecretary of the Uity of Lubbock the following Commissioners beinc ;jresent and voting in the affirmative: 'j G 11 i`rii llan 11 B Pri ae Garland t ewziom THE STATE OF TEXAS CO?J2dTY OF L'J3t30CK FOR ND IN CONSIDERATION of One and No/100 0 A 1.00) Dollars, and other valuable considerations represented in the sale by me of my taxi cab business in the City of Lubbock to Ray Farmer, I, Hoy Cozart, doing, a taxi cab business under the assumed name of City Cab Company in tho City of Lubbock., Lubbock County, Texas, and operated under a permit and franchise right from the City of Lubbock, Lubbock County, Texas, do hereby sell, transfer, assign and convoy all my right, title and interest in and to my permits, franchises and other rights acquired and otilned by rte in th o City of Lubbock, and especially a permit to operate bus granted by ti -.e City of Lubbock on July 20, 1940, Lnd expiring July 20, 1941, to Ray Farmer, of the City of Lubbock, Dubbock County, Texas, it being; my intention herein for the considerations herein expressed, to sell, trans- fer and assign all ray rights, title and interest in and to such permits and/or franchises now oened by me and f-Iven by the City of Lubbocic to sae, for the operation of taxi cabs within the City limits of said City. o"rITI ESS my hand '..his the 13th day of January, A. D. 1941. THE STATE OF TEXAS COUNTY OF LUBBOCK BEFORE I;:E, the undersigned authority, on this day personally appeared Roy Cozart, known to :ie to be the person whose name is subscribed to tho forogoing instrument, and acknowledged to me that lie executed the sante for the purposes and consideration therein expressed. GIVEN UINDEi; my hand a.d seal of office, this the 13th day of January, A. D. 1941. Notary P1i. lic in and foi, Lubbock County, Texas. TO THE HONORABLE MAYOR AND CITY COMMISSION OF THE CITY OF LUBBOCK, LUBBOCK COUNTY, TEXAS: Gentlemen: Now comes Ray Farmer, a citizen of Lubbock, Lubbock County, Texas, and shows to the Commission that he has purchased the entire business of Roy Cozart, doing a taxi cab business in the City of Lubbock under the name of City Cab Company, a copy of such contract of purchase being attached hereto and made a part hereof. That the said Roy Cozart is transferring under said contract to this applicant allhis permits and rights to do business in the City of Lubbock, and your applicant is paying a valuable consideration, as shown by said contract, for said rights. That your applicant is financially able to comply with all the requirements of the City of Lubbock with reference to the operation of taxi cabs in the City of Lubbock, and is ready to file with said City all public liability bonds and other guaranties required to operate taxi cabs under the ordinances of the City of Lubbock. That your applicant is financially able to have and furnish the necessary equipment in the operation of such business which will meet the convenience and necessity of the public, and that under the facts public convenience and necessity will be met by your approval of this transfer as herein shown. WHEREFORE, your applicant prays the City Commission to approve the transfer from Roy Cozart, doing business under the name of City Cab Company, to your applicant, of all permits and rights the said Cozart has in the City of Lubbock, and asks the Commission to approve the contracts attached hereto for such transfer. In this connection applicant offers to execute and deliver to the City of Lubbock all required assurances to the City and to the public which will meet with the public convenience and necessity of the citizens of the City of Lubbock. RESPECTFULLY SUBMITTED, App c T 1'E STATE OF TEXAS COUNTY OF LUBBOCK This COITTEACT OF BArRGAIN 2,ND SALE made and entered Into this the 13th day of January, A. D.1941, by and between Roy Cozart of the City of Lubboc:., Lubbock County, Texas, hereinafter called Vendor, and Flay Farmer, of the City of. Lubbock, Lubbock County, Teras,-1.ereinafter called Vendee; 1'v� i T !1 E S S T' 11 1. That the vendor 'A -.&s this dear bargained and sola and by these presonts does _iereby bargain,, sell and obliCate him- self to convey or cause to be conveyed in manner as hereinafter stated to the said vendee all and singular the following described property, to -wit: (a) One 1937 Plymouth pickup, license No.138777, 1n.gine 110. T507461 ; (b) One 1941 Plymouth automobile, State license NO. 847581 , Engine No. P12-46017; (c) One 1941 Plymouth automobile, State license No. 847582 LnE,ine 11o. P12-46016 ; (d) One 1941 Plymouth automobile, State liccnse Ito. 847583 , Engine ,10. p12-4,Ej015 (e) One 1941 Plynouth automobile, State license No. 847584 , ringine Nc . P12-46014 (f) One 1941 Plymouth automobile, State license 'dc. 847585 , Engine No. P12-46013 ; (v) The building; located on Lot No. right (8), Block No. One Hundred Sevonteen (117), Ordinal Town of Lubboci?f, Lubbock County, Texas, such property belonging to either l,rs. Sylva B. Wheelock or to the '�4heelock "Estate, the building thereon bolongin- to vendor herein, together with all signs, private telephone lines, private telephone numbers, said building.; so agreed to be sold by vendor boing on a 12 ft. e care out oi' the Southeast corner of such )roperty as above described as belonging to firs. 'azheelocko (h) All utility deposits, all personal property used in connection with the Taxi CrLb business, the name under wll:ich vendor is doin- business, to -brit, City Cab Company, hil ch is an assumed name under vkhich said business is operated., all the good uvill attached to said business, all city permits issued by the City of Lubbock for the operation of said busi- ness, tend all other rirrhts and po•.,,ers and properties that vendor has by reason of such. permits, same being a complete transfer and sale of the said Taxi Cab business, toE;ether bait. A1.1 tke equipment as described above and the good will and rights therein, such property and all of same to be free and clear of any and all lions or claims of whatsoever character. N. The consideration paid and to be paid to vendor herein by the said vendee for the property above described is the agreed sum of Ten Thousand and No/100 (,;10,000.00) Dollars, to be paid as follows: (a) y2500.00 cash to be paid bNj vendee to vendor on or before the 15th darn of January, A. D. 1941; (b) The balance of said consideration, in tie amount of 7500.00, to be paid by vendee to vendor by the execution of a promissory note in the principal sum of !P500.00, dated January 15, 1941, payable ;;250.00 per month on the principal, said note to boar interest at the rate of six p r cent per annum from date, the interest on said note to be raid monthly in addition to thio Y250.00 principal payments, such principal pa,7ments to be paid on the 1,1th day of each i-nonth after such note is mace until all the principal b;nd interest has been paid, such note to be se- cured by a chattel mortgage executed by vendee to vendor on all the physical prop_;rties above described and herein conveyed by vendor to vendee. 3. Vendor binds himself herein to secure releases for all liens now existing against said property ,nd to transfer said property to vendee free nd clear of any indebtedness of any kind, either liens or claims, save and except the $7500.00 described above as executed by vendee to vendor. in this connection vendor further binds himself to execute all necessary papers to vest title in vendee of all t1le property i�ereinabove con- veyed, and to mhlae such necessary assignments and transfers that wi11 vest in vendee all title and possession to the property hereinabove described. T t'r�'_s connection vendor binds ._imself to assign to vendee all permits and franchises and rights which he may havo to operate the taxi cab business in the City of Lub pock, such transfer and assignments to be ap1_)raved by the City (-ommission of the �it;y of Lubbock, vesting in said vendee all right, title and interest in and to the riUhts to operate sitch taxi cab business in the City of Lubbock, and this contrw-ct shall not be subject to final performance until such assignments of permits and rights made by vendor to vendee have been approved by f ,he City Comntiss_lon of the Clty of Lubbock, Lubbock County,'exas. 4, The vendor herein recognizes that the transfer of the good will of said business is a tart of the businoss and is a part of the ra;;T.ient of considers t-icn which he receivos under this contract, and in this connect'on vendor, for and in considera- tion of the amounts paid him by vendee, hereby binds himsolf not to again enter into the taxi cab business, Dither in Us o�,n name or in the name of any other person, or interest himself in any company doing business of ti)is kind or character in Lubbock County, Texas, for a pe piod of five (5) years from January 15, 1041, and -in this conriecti on %Iendor expressly agrees that this contract and agreement not to do business of this >ind or character in any name, either his own or any other per- son durint said time, as �)rovided above, is a riaterlal ,part of the transfer for which the consideration is paid by vendee to vendor herein. 61 It; is agreed and understood that subject to the approval of the City Commission of the Cit-;= of Lubbock, Lut,) ock County, Texas, t'r-is contract simll be performable on January 15, A. D. 1941. 6. it is expressly agroed and understood herein that vendor will execute any and all transfers, assignments and other necessary instrunientus approved by the attorneys for vondee to :rake the transfers of all the property herein sold by vendor to vendee and vest In vendee all the legal rights, titlo and interest in and to sane, as required by vendee's attorneys, 11111_3 contract is executed in triplicate, one copy delivered to each of said partios, one copy to be )resented to the City Gorzilssion of the City of Lubbock, Lubbock County, Texas, for its approval, this the 13th day of January, A. D. 1941. Vendor V does Ya I TNEWE S :