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Home My WebLink AboutResolution - 2078 - Sales Contract - LISD - Lots 9 & E 1_2 Of 10, Block 37 Overton Addition - 07_11_1985Resolution #2078 July 11, 1985 Agenda Item #19 MH:js 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 a Contract of Sale by and between the City of Lubbock and Lubbock Independent School District and a warranty Deed conveying Lot 9 and the East 1/2 of Lot 10, Block 37, Overton Addition, and all related documents, attached herewith, which 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 Resolu- tion as if fully copied herein in detail. Passed by the City Council this 11th day of July , 1985. AL*94L ENRY, YOR ATTEST: Ranette oyd, City Secretary APPROVED AS TO CONTENT: Ji B tram, Assistant City Manager for elopment Services APPROVED AS TO FORM: Michel Hart, Assistant City Attorney Resolution #2078 SALES CONTRACT THE STATE OF TEXAS § COUNTY OF LUBBOCK § THIS CONTRACT between the CITY OF LUBBOCK, a Texas Home Rule Municipal Corporation of Lubbock County, Texas, acting through its Mayor hereunto duly authorized, hereinafter called "Vendor", and the LUBBOCK INDEPENDENT SCHOOL DISTRICT, a Municipal Corporation, hereinafter called "Purchaser", by which Vendor hereby sells and agrees to sell and convey to Purchaser, and Purchaser agrees to buy and pay to Vendors for (in the amount of money hereinafter set forth) the hereinafter described property lying and being situated in Lubbock County, Texas, on the following terms and conditions. WITNESSETH• Vendor has agreed, and does hereby agree, to sell and convey, and Purchaser has agreed, and does hereby agree, to take by convey- ance from Vendor, a certain tract of land situated in Lubbock County, Texas, described as follows: Lot 9 and the East one-half of Lot 10, Block 37, OVERTON ADDITION to the City of Lubbock, Lubbock County, Texas. In consideration for the conveyance of which, Purchaser agrees to deliver to Vendor contemporaneously with the delivery of the Deed below described, in cash the sum of EIGHTY-TWO THOUSAND NINE HUNDRED NINETY-SIX AND NO/100 ($82,996.00) DOLLARS. II. EVIDENCE OF TITLE A. Title Policy. Seller shall furnish to Buyer an owner's policy of title insurance, together with tax certificates showing no delinquent taxes. Seller shall, within thirty (30) days after the date of this Contract, at Seller's sole cost and expense, cause to be furnished to Buyer a current title binder issued by a title company. The title binder shall set forth the state of title to the tract of land, together with all exceptions or conditions to such title, including without limitation all easements, restric- tions, rights -of -way, covenants, reservations and all other liens or encumbrances affecting the land which would appear in an owner's 4 title policy if issued. In addition, Buyer shall be furnished complete, correct and legible copies of all instruments referred to in the title binder as conditions or exceptions to the title, including liens. Buyer shall have a period of fifteen (15) days after receipt of the title binder and the survey of the land, as hereinafter set forth, to deliver in writing to Seller such objec- tions as Buyer may have to good and indefeasible title. Any exceptions to title shown in the title binder, documents or survey to which Buyer does not so object within such thirty (30) day period or prior to closing, whichever is earlier, shall be deemed to be a permitted exception. B. Curing Objections. If any valid objections or exceptions to the title or title binder or survey are made by Buyer, then Seller shall have a reasonable amount of time to satisfy such objections. In the event Seller fails to satisfy such objections, Buyer may either waive such objections and close the transaction contemplated hereby or terminate the Contract and receive back the escrow money, together with interest thereon, and thereafter the parties shall have no further obligations or liabilities hereunder. Vendor agrees to deliver a good and sufficient Warranty Deed in the form attached hereto, properly conveying said property to said Purchaser, and Purchaser agrees, when said Deed is presented, to pay the cash payment herein provided for. IV. This agreement shall not become operative or effective until duly executed by both Purchaser and Vendor herein. Executed in duplicate originals and one copy delivered to each of said parties this 11th day of July , 1985. VENDOR: CITY OF L By: )Ze�aL_ AL HENRY, 14AYOR ST- RANE E BOYD City Secretary N Resolution #2078 WARRANTY DEED THE STATE OF TEXAS 5 KNOW ALL MEN BY THESE PRESENTS: COUNTY OF LUBBOCK THAT, CITY OF LUBBOCK, a municipal corporation, herein called "Grantor", for and in consideration of the sum of TEN AND N0/100 ($10.00) DOLLARS and other good and valuable consideration to Grantor in hand paid by the LUBBOCK INDEPENDENT SCHOOL DISTRICT, in cash, the receipt and sufficiency of which are hereby acknowledged and confessed, and for the payment of which no right or lien, express or implied is retained: Has GRANTED, SOLD and CONVEYED, and by these presents does GRANT, SELL and CONVEY unto the said LUBBOCK INDEPENDENT SCHOOL DISTRICT, a municipal corporation of Lubbock County, Texas, all that certain tract and parcel of land lying and being situated in Lubbock County, Texas, as follows: Lot 9 and the East one-half of Lot 10, Block 37, OVERTON ADDITION to the City of Lubbock, Lubbock County, Texas. TO HAVE AND TO HOLD the above described premises, together with all and singular, the rights and appurtenances thereto in anywise belonging to the said LUBBOCK INDEPENDENT SCHOOL DISTRICT, its successors and assigns forever, and the said GRANTOR does hereby bind itself, its successors and assigns to WARRANT AND FOREVER DEFEND all and singular the said premises unto the said LUBBOCK INDEPENDENT SCHOOL DISTRICT, its successors and assigns, against every person whomsoever lawfully claiming, or to claim the same, or any part thereof. IN WITNESS WHEREOF, the said CITY OF LUBBOCK has caused these presents to besignedby its duly authorized officers at Lubbock, ltr Texas, this day of July , 1985. CITY OF LUBBOCK, TEXAS By: ALAN Y, OR ATTEST: Ranette Boyd, City Secretar THE STATE OF TEXAS COUNTY OF LUBBOCK CLThis instrument was acknowledged before me on the /,-�Lf day of , , _, 1985, by ALAN HENRY, Mayor of the City of ubbock, a municipal corporation of Lubbock County, Texas, on behalf of said corporation. Notary Public, State of Texas My Commission Expires: PURCHASER: LUBBOCK INDEPENDENT SCHOOL DISTRICT By: THE STATE OF TEXAS § COUNTY OF LUBBOCK § Monte Hasie, President Board of Trustees This instrument was acknowledged before me on the day of , 1985, by ALAN HENRY, Mayor of the City of Lubbock, a Municipal Corporation of Lubbock County, Texas, on behalf of said corporation. Notary Public, State of Texas My Commission Expires: THE STATE OF TEXAS § COUNTY OF LUBBOCK § This instrument was acknowledged before me on the day of 1985, by MONTE HASIE, President of the Board of Trustees of Lubbock Independent School District, a Municipal corporation of Lubbock County, Texas, on behalf of said cor- poration. My Commission Expires: Notary Public, State of Texas 3