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HomeMy WebLinkAboutResolution - 021661A - Escrow Agreement_Contract To Convey- S.O. Gowen- Lot 18 Blk 1, Ellwood Place Add - 02_16_1961 y JP :wg Z^� RESOLUTION / WHEREAS, the City of Lubbock is desirous of obtaining a ten (1p) foot wide strip of land off the North side of Lot 18, Block 1, Ellwood Place, an addition to the City of Lubbock, in order to make much needed improvements in the College Avenue and 19th Street intersection; and, WHEREAS, such Lot 18, Block 1, Ellwood Place, was leased by the owners thereof to Larry Doyle and Wayne Hood d/b/a Casey Carpet Company, by instru- ment dated March 5, 1958, for a term of five years, such term beginning on April 21, 1958 and ending on April 20, 1963; and, WHEREAS, the Larry Doyle and Wayne Hood d/b/a Casey Carpet Company by instrument dated April 21, 1958, and in full accordance with the terms of their lease, sub-let the North 75 feet of said Lot 18, Block 1, Ellwood Place to S. O. Gowen for a term of five years, such term to terminate on April 20, 1963; and, WHEREAS, the City of Lubbock and the said S. O. Gowen have by voluntary negotiation and accord reach a settlement as to the terms upon which the said S. O. Gowen will convey his interests, rights and title to such ten (10) foot strip to the said City of Lubbock, subject to voluntary settlement between the City of Lubbock and all other parties owning an interest in said property; NOW THERE- FORE: BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LUBBOCK: SECTION 1. THAT the Mayor is hereby authorized and directed, for and on behalf of the City of Lubbock, to execute the attached "Escrow Agreement and Contract to Convey" between the City of Lubbock and S. O. Gowen, which said "Escrow Agreement and Contract to Conveys" is hereby incorporated by reference herein for all purposes. SECTION 2. THAT the City Secretary-Treasurer is hereby authorized and directed to attest the signature of the Mayor to such "Escrow Agreement and Contract to Convey" affixing the seal of the City of Lubbock thereto. Passed by the City Commission this 16th day of February 1961. '� 5�.Z'A3`EY-�vIayor ATTzaee; form APpro,red� jaw — -- City A�ttornsy Lave is Lowe, y ecreta:FFTreasurer '~ ESCROW AGREEMENT AND CONTRACT TO CONVEY THE STATE: OF TEXAS KNOW ALL MEAT BY THESE P tESENT& COUNTY OF LUBBOCK { WHEREAS, the City of Lubbock is desirous of obtaining a ten (10) foot wide strip of land off the North side of Lot 18. Block 1. Ellwood Place, an addition to the City of Lubbock, in order to make much needed improvements in the College Avenue and 19th Street intersection; and, WHEREAS, such Lot 18. Block 1. Ellwood Place, was leased by the owners thereof to Larry Boyle and Wayne Hood d/b/a/:;asey Carpet Com- pany, by instrument dated March 5. 1968, for a term of five years. such term beginning on April 21, 19S9 and ending on April 20. '1963; and, WHEAZEAS. the Larry Doyle and Wayne Hood d/b/a Casey Carpet Com- pany by instrument dated April 21, 1958, and in full accordance with the arms of their lease, sub-let the North 75 feet of said Lot 16, Block 1, Ellwood Place to S. 0. Gowen for a term of five years. such term to terminate on April 20, 1963; and, WHEREOF. the City of Lubbock and the said $. O. Cowen have by voluntary negotiation and accord reached a settlement as to the terms upon which the said S. G. Bowen will convey his interests, rights and title to such ten(10) foot strip to the said City of.Lubbock, subject to voluntary settlement between this City of Lubbock and all other parties owning an in- terest in said property. NOW THEREFORE: WITNESSETH THAT the City of Lubbock, a Homo Rule Municipal Corporation of Lubbock County. Texas, acting herein by ar►d through its Mayor as hereto- fore duly authorised by Resolution of its City Commission, ,hereinafter called "CITY", and S. O. Gowen, hereinafter called "GOWLN", have this day made and entered into the following memorandum and agreement. to-wit: I. THAT for and in consideration of the stun of TEN THOUSAND ($10.000.0$0 DOLLARb, GOWA;N has agreed and does agree to *all and convey to CITY all rights title and interest owned by him in the North ten(10) feet of Lot 16, Block Is Ellwood Place, an addition to the City of Lubbock,' Lubbock County. Texas. `1 said strip of land being vaore particularly described as follows. to-wit: BE4Ii'`WING at a point In the West line of said Lest 18, Block I. Ellwood Place, said point being 30 feat East and $1,55 feet South of the Northwest corner of Section 9, Block B, Lubbock County. Texas, THENCE Easterly parallel to and 10 feet South of the South line of 19th Street, a distance of 60 feet. more or less* to a point in the West line of said Lot 1S; THENCE North 10 feet to a point in the South right-of-way line of 19th Street, said point being also 1s2.fit feet South from the original Northeast corner of said Lot 18., THENCE Westerly along the South right-of-way line of 19th Street a distance of 60 feet to a point, THENCE South 10 feet to the PLACE OF BEGINNING. Z. THAT it is agreed and understood by GOWEN that such consideration E *hail constitute not only payment and satisfaction in full for his leasehold interest in the ten toot etrip actually to be conveyed, but i6 also to com- pletely reimburse GOWEN for any and all damages or depreciation which will or may result to the remaining portion the North 75 fact of said Lot 16. Block 1. Ellwood Place, still held under lease by GOWEN, iucl"ng the costs of such removal# demolition, relocation. roeohstiuctioa or re- modeling if any, of the buildings and all other structures and improvemerito now located on the remainder of said Lot 18, as GOWEN may determine necessary and such sum shall also constitute payment in full for any loss of business or profits which may be caused by such work an the balance of the property retained under lease by GOVILN, and for any and all damages or losses of every kind and character whatsoever which may directly or indirectly result from or be caused by the actual construction of the street. utility and other public improvaments coatemplated withirat the limits of the ten foot wide strip of land actually to be conveyed to CITY ; and that such consideration: shall also constitute paymetst in full for GOWLNIS removing any and all buildings. structures and other improvements which may be oa# under or over the strip of land to be conveyed. i'... ,i vvi I. THAT within fourteen (14) days after execution of this agreement by the parties hereto, and in fulfillment of this agreement. GOWEN &hall cause a Quit Claim Deed and Release to be executed and delivered to that escrow agent hereinafter named. Such Quit Claire Deed and Kaelease *hall substan- tially reflect the interests revealed by this agreement to be conveyed or released to CITY# and shall be approved by the City Attorney for CITY prior to delivery to such escrow agent. 4. THAT within fourteen (14) days after anscution of this agreement by the parties hereto, and in fulfillment of this agreement, CITY shall cause the sum of TEN THOUSAND ($10.000.00) DOLLARS to be delivered to said escrow agent, subject to delivery to GOWEN or return to CITY under the conditions sad terms hereinafter provided. THAT the is hereby designated by the parties hereto to serve as escrow agent under the terms of this agreement. b. It is hereby declared the purpose and intent of the parties to this agreement to accomplish the toaveyance of the laud above-described and all interests or claims related thereto, and as well to settle all matters of damage to remainder of the lot not so conveyed, by voluntary agreement. ,$oth parties hereto acknowledge and recognise that there are other parties owning inters ate in such property including fee simple title who must be the subject of independent agreements with the CITY before all title in this property will be fully vested in CITY. This agreement is CON111- TIONED UPON and arcade 8UBJFC'T' TO the completioa of such voluntary negotiation and settlement with such other parties by said CITY. Should these voluntary negotiations with such other parties fail, and theaWor- mination as to when and if such negotiations have failed small be oae within the sole discretion of CITY, thew this agreement shall be NULL AND VOID in all things. and the CITY shall be entitled to return of the sum hereinabove specified to be delivered to the escrow agent, and GOWEN shall be entitled to return of the Quit Claire Deed and itelease so deposited with ,such escrow agents and both parties hereto shall be completely released frornall the terms, obligations and conditions of this agreement. Failure by CITY to acquire the rights of the other parties owning interests in ouch property by May I. 1961, shall, all provisions herein to the contrary notwithstanding, be deemed to automatically terminate this agreement, and escrow agent is authorized and directed on such "to, unless sooner notified by CITY that all such interests have been acquired, to return the Quit Claim Deed and Release to GC3WZN and the TEN THOUSAND DOLLARS deposit to CITY. 5. THAT upon the satisfactory acquisition by CITY of all other interests owned in the above-described property, including the strip conveyed and such interests in the remainder of said Lot 18, Block 1, Ellwood Place which are or may be in law affected thereby, and upon the complete clear- ing by GGW9N of the strip of land to be Conveyed, including;all impdrovem►ents on the surface and above and below grooml, then GOWEN shall be entitled to payment in full of the TE14 THOUSAND ($10,000.00) DOLLARS held by said escrow agent, and the CITY shall be entitled to the delivery of the Quit Claim Deed and Release above provld-d as held by such escrow agent. Such escrow agent is hereby authorized and directed upon receipt of letter from CITY stating in substance that all terms of this agreement have been substantially accomplished, to immediately pay over to GOVILN the sum provided and de- liver to CITY the instrument held by such escrow agent. Such letter from CITY shall be signed by CITY'S Right-of-Vlay Engineer with the approval of CITY'S City Manager noted thereon. In the alternative, such escrow agent Is hereby authorized and directed upon receipt of a letter stati4g in substance that CITY has determined that voluntary negotiations with others parties own- ing an interest in said Lot 18. Block 1. Ellwood, Places have failed, such letter to be signed by CITY'S Right-of-Way ,Engineer with the approval of CITY'S City Manager noted thereon, than escrow agent is hereby authorised and directed to return to GOWEN the instrument deposited with agent by him, and to return to CITY the sum so deposited by CITY. 8. It is acknawledged by the parties hereto that certain items, including tanks, pumps and lift, located ou the North 75 feet of said Lot 16, Block 1, Ellwood Place, are the property of the Continental ©il Company, and GO-W.EN here accepts full responsibility for such itemse and agrees to accept full liability for any and all claims or suits for damageewhich may arise due to injury, destruction or lose of such items which may directly or in4ixectly result from theacqulsition of the above-described strip of land or during the pvoposed construction of street improvements thereon. and GOWEN agzmes that he will at all times defends indemnify and otherwise hold the CITY, its agents. servants and employees harmless of and from any and all claims, demands, actions. causes of actions suits at law and in equity and costs of whUxoevor kind or nature which may grow out of or relate to these items which are the property of the Continental Oil Company. 9. It is further understood and agreed between the parties hereto that CITY wtll take no action tinder authority of any right granted by this instru- ment limiting GOWi£N'd continuation of service station operations or other lawful activitlea on the remainder of said Lot 16, Sleek 1. Ellwood.Place held under tease by hims except during those periods when the abutting streaks taust be closed or partialiy.closed for construction, reconstruc- tion, maintoaaace, trepair or alteration of street improvements and other public utilities or improvements. IN TESTIMONY OF THE ASSENT GF ALL PART19S HERETO, we hereby subscribed our names. thin, the--JjtbUj 1961. sE� CITY OF LUBBOCK, ,TEXAS AT'TZST4 Eaveaaia Lowe,lily 5escrotarp4Trsasurer THE STATE OF TEXAS ! COUNTY OF LUBBOCK BEFORE ME, the undersigned authority. a Notary Public in:and for Lubbock County, Tezas, on this day personally appeared DAVID C. .CASEY, known to ttas to be the person whose name to subscribed to the foregoing irn- strumout and acknowledged to me that he executed the same as the act and deed of the-CITY OF LUBBOCK&aad as MAYOR, for the purposes and consi- deratioa therein expressed, and in the capacity therein stated. GIVEN UNDER MY NAND AND SEAL OF OFF'IGE'this y of . 1961. (S"L) _ Not+rry libltc,LubbWkCouatys Texas THE STATE OF TEXAS � ``Gvray ar LUBBOCK 1 ;19EFORLE I-90 the un4ersigaed authority, a Notary Public in and for '*County, To"*. on this day personally appeared&0# Gowen, known \,be the person whrase name is subscribed to the Yoregoing instrument, 'rledjed to we that he executed the same for the purposes and consi- `tein expressed. BAND AND SEAL 01' OFFICE this day of Notary Public,Lubbock,Ctruntp, Texas