HomeMy WebLinkAboutResolution - 4267 - Assignment - Town Brown To LNB - 2.79 Acre Tract, Section 28, Block A, County - 09_23_1993Resolution No. 4267
September 23, 1993
Item #31
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 a document entitled
"Assignment and Consent to Assignment of Leasehold Interest" from Tom Brown,
as Assignor, to the Lubbock National Bank, as Assignee, which document is
attached hereto and shall be spread upon the minutes of the Council and as
spread upon the minutes of t ncil shall constitute and be a part of
this Resolution as if full copied R6Kein in detail.
Passed by the City Council\,thi,,- day (of pt � �' 1993.
�F
ATTEST:
&9,— 1 X—
etty .Jon n, City Secretary
APPRO ED AS TO CONTENT:
ert Massenga e, Assistant ity
Manager for Financial Services
APPROVED AS TO FORM:
�t ! I)O:Ls. l.! ..
Htirbld Willard, AssistantlCity
Attorney
HW:dw/agenda-M/Assgnmt.res
September 14, 1993
Resolution No. 4267
September 23, 1993
Item #31
STATE OF TEXAS §
§ ASSIGNMENT AND CONSENT TO ASSIGNMENT
§ OF LEASEHOLD INTEREST
COUNTY OF LUBBOCK §
WHEREAS, this Assignment and Consent to Assignment of Leasehold Interest is made
and entered into this date by and between Tom Brown, Assignor, and Lubbock National Bank,
Assignee, and G. Greenstreet, Inc., Gary Greenstreet, Don Denton and David Wood, and the
City of Lubbock, Consenting Parties; and
WHEREAS, Assignor is an undivided owner of the leasehold interest in and to a 2.79
acre tract of land more particularly described below. Assignor's leasehold interest arises out of
a Lease and Sublease Agreement by and between the City of Lubbock and G. Greenstreet, Inc.
dated the 27th day of September, 1991, and as amended by Amendment No. 1 to the Lease and
Sublease Agreement dated January 27, 1992, as amended by Supplemental Agreement No. 1
dated February 13, 1992, ("leases"); and
WHEREAS, G. Greenstreet, Inc. assigned its interest in said lease to Gary Greenstreet,
Tom Brown, Don Denton and David Wood; and
WHEREAS, G. Greenstreet, Inc., Gary Greenstreet, Tom Brown, Don Denton and David
Wood have granted a deed of trust lien in and to said leasehold estate to the Lubbock National
Bank by means of a Deed of Trust dated March 18, 1992, said Deed of Trust being recorded in
Volume 3825, Page 304 of the Real Property Records of Lubbock County, Texas, and have
additionally executed an Assignment of Lease; and
WHEREAS, the City of Lubbock has consented to said assignment as required by the
Lease Agreement; and
WHEREAS, Tom Brown wishes to further assign his undivided interest in the Lease to
1
the Lubbock National Bank to secure certain indebtedness;
NOW THEREFORE, FOR ADEQUATE CONSIDERATION RECEIVED, THE
UNDERSIGNED AGREE AS FOLLOWS:
1. Assignor does hereby transfer all right, title, and interest in and to the leasehold
interest which he has in and to the following described property:
All of the undersigned's undivided interest in the leasehold estate described in that one
certain Lease and Sublease Agreement entered into by and between the City of Lubbock
and G. Greenstreet, Inc., dated the 27th day of September, 1991, and as amended by
Amendment No. 1 to Lease and Sublease Agreement dated January 27, 1992, and as
amended by Supplemental Agreement No. 1 dated February 13, 1992, covering the
following described tract of land, to -wit:
A 2.79 acre tract of land out of Section 28, Block A, Lubbock County, Texas, and being
more particularly described by metes and bounds as follows, to -wit:
BEGINNING at a 1/2" iron rod, set for the Southwest and beginning corner of this tract,
whence the Southwest corner of Section 24 bears South 00°02'00" East, 637.34 feet and
South 89"59'30" West, 895.20 feet;
THENCE North, 347.50 feet to a 1/2" iron rod, set for the Northwest corner of this
tract;
THENCE East, 350.00 feet to a 1/2" iron rod, set for the Northeast corner of this tract;
THENCE South, 347.50 feet to a 1/2" iron rod, set for the Southeast corner of this tract;
THENCE West, 350.00 feet to the point of beginning.
Containing 2.79 acres.
2. Assignor does hereby warrant and represent to Assignee that the Leases are in full
force and effect and that there are no defaults in said Leases or any of the terms thereof and that
Assignor has not received prepayment of any rental as called for under the terms and conditions
of said Leases.
3. G. Greenstreet, Inc., Gary Greenstreet, Don Denton, and David Wood join in
this Assignment and Consent to Assignment of Leasehold Interest for the purpose of expressing
2
their consent to the assignment contemplated by this agreement and by the Deed of Trust of even
date herewith. The City of Lubbock, acting through its Mayor, also consents to the assignment
by the Assignor of his Leasehold Interest to the Assignee.
4. This Assignment shall be binding upon the undersigned, their heirs, personal
representatives, successors and assigns.
5. This Assignment and Consent to Assignment of Leasehold interest shall be subject
to and subordinate to all of the terms and conditions contained in the above -referenced Lease and
Sublease Agreement dated the 27th day of September, 1991, as well as any amendments and
supplemental agreements thereto and in particular the City of Lubbock's right under paragraphs
lg and lh on pages 12-13 of such Lease and Sublease Agreement to terminate the same.
Dated this 30th day of August, 1993.
3
ASSI7N,
Tom Brown
ASSIGNEE
Lubbock .. ational Bank
By; /-� c` r•�.My..�
David Harmon, Senior Vice President
CONSENTING PARTIES
Don Denton
David W
ity o u ock
y:
David R. Langston,
ATTEST:
Betty . Johnso
City Secretary
APPROVED AS TO CONTENT:
r
Bern E. Case
Director of Aviation
APPROVED AS TO FORM:
Harold Willard
Assistant City Attorney
(Acknowledgement)
STATE OF TEXAS
COUNTY OF LUBBOCK
This instrument was acknowledged before me on the % 31-or day of
19 9" -3 , by Tom Brown.
Notary Public, State of Texas
Notary's name (printed): �: //� au• ��'u'i S
Notary's commission expires: t"/ i I A6
4
(Corporate Acknowledgement)
STATE OF TEXAS
COUNTY OF LUBBOCK
This instrument was acknowledged before me on the IZ71 day of
/ z i_- , 19 `.%_ 3 , by David Harmon, Senior Vice President of Lubbock National
Bank, 'a national banking association, on behalf of said association.
Notary Public, State of Texas
Notary's name (printed):�GiE
Notary's commission expires:
(Corporate Acknowledgement)
STATE OF TEXAS
COUNTY OF LUBBOCK
This instrument was acknowledged before me on the /3 t*r day of
S'f , k L - , 192 '3 , by Gary Greenstreet, President of G. Greenstreet, Inc., a
Texas c6rporatIon, on behalf of said corporation.
Notary Public, State of Texas
Notary's name (printed): �� r I l r a r. �. a c✓ iS
Notary's commission expires: 1/ % /%LI-
(Acknowledgement)
STATE OF TEXAS
COUNTY OF LUBBOCK
This instrument was acknowledged before me on the / 4'" day of
19 11 7� , by Gary Greenstreet.
l
N6ttary Public, State of Texas
Notary's name (printed): (L/; //)
Notary's commission expires:
5
(Acknowledgement)
STATE OF TEXAS
COUNTY OF LUBBOCK
This instrument was acknowledged before me on the day of
19 9 , by Don Denton.
Notary Public, State of Texas
Notary's name (printed): tv) i; i a tK /=
Notary's commission expires: ' S /;7/ �%C-
(Acknowledgement)
STATE OF TEXAS
COUNTY OF LUBBOCK
This instrument was acknowledged before me on the
, 19 , by David Wood.
Notary Public, State of Texas
Notary's name (printed):
Notary's commission expires:
(Acknowledgement)
STATE OF TEXAS
COUNTY OF LUBBOCK
day of
This instrument was acknowledged before me on the Z M day of
b e2 _, 19 q3 , by David R. Langston, as Mayor of the City of Lubbock.
:BEATRIZ M. ROORIGUEZwr) PVW &* M Taw6='W , bow "ms
T
�I z�-M . o ,,T
otary Public, State of exas
Notary's name (printed):
Notary's commission expires:
LU BBOCK
NATIONAL
BANK
September 3, 1993
\,, ,1) \1 11 \R\1O\
Mr. J. Robert Massengale
Assistant City Manager
City of Lubbock
P. 0. Box 2000
Lubbock, Texas 79457
Dear Robert:
Please find enclosed the assignment of Tom Brown's interest in the
sublease agreement with the City of Lubbock. Tom Brown is
requesting that Lubbock National Bank loan him $66,000 based on his
ownership in the lease agreement. We are going to make the loan
with the city and the partners acknowledging that he has assigned
his interest. Please sign the enclosed agreement and return to me
at Lubbock National Bank.
If you should have any questions about the agreement please give me
a call. Thank you for your help in this matter.
Zh2ceely,
vid M.aimon
Senior vice President
Enclosure
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Resolution No. 4267
September 23, 1993
Item #31
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 a document entitled
"Assignment and Consent to Assignment of Leasehold Interest" from Tom Brown,
as Assignor, to the Lubbock National Bank, as Assignee, which document is
attached hereto and shall be spread upon the minutes of the Council and as
spread upon the minutes of t ncil shall constitute and be a part of
this Resolution as if full copied h ein in detail.
Passed by the City Council\,thiir =� day(of r 1993.
ATTEST:
Ix—
etty .Jon n, City Secretary
APPRO ED AS TO CONTENT:
Van
ert Massenga e, ssistant ity
ager for Financial Services
APPROVED AS TO FORM:
ftrbld Willard,ssistan Cit
Attorney
HW:dw/agenda-D1/Assgnmt.res
September 14, 1993
Resolution No. 4267
September 23, 1993
Item #31
STATE OF TEXAS §
§ ASSIGNMENT AND CONSENT TO ASSIGNMENT
§ OF LEASEHOLD INTEREST
COUNTY OF LUBBOCK §
WHEREAS, this Assignment and Consent to Assignment of Leasehold Interest is made
and entered into this date by and between Tom Brown, Assignor, and Lubbock National Bank,
Assignee, and G. Greenstreet, Inc., Gary Greenstreet, Don Denton and David Wood, and the
City of Lubbock, Consenting Parties; and
WHEREAS, Assignor is an undivided owner of the leasehold interest in and to a 2.79
acre tract of land more particularly described below. Assignor's leasehold interest arises out of
a Lease and Sublease Agreement by and between the City of Lubbock and G. Greenstreet, Inc.
dated the 27th day of September, 1991, and as amended by Amendment No. 1 to the Lease and
Sublease Agreement dated January 27, 1992, as amended by Supplemental Agreement No. 1
dated February 13, 1992, ("leases"); and
WHEREAS, G. Greenstreet, Inc. assigned its interest in said lease to Gary Greenstreet,
Tom Brown, Don Denton and David Wood; and
WHEREAS, G. Greenstreet, Inc., Gary Greenstreet, Tom Brown, Don Denton and David
Wood have granted a deed of trust lien in and to said leasehold estate to the Lubbock National
Bank by means of a Deed of Tr ust dated March 18, 1992, said Deed of Trust being recorded in
Volume 3825, Page 304 of the Real Property Records of Lubbock County, Texas, and have
additionally executed an Assignment of Lease; and
WHEREAS, the City of Lubbock has consented to said assignment as required by the
Lease Agreement; and
WHEREAS, Tom Brown wishes to further assign his undivided interest in the Lease to
1
the Lubbock National Bank to secure certain indebtedness;
NOW THEREFORE, FOR ADEQUATE CONSIDERATION RECEIVED, THE
UNDERSIGNED AGREE AS FOLLOWS:
1. Assignor does hereby transfer all right, title, and interest in and to the leasehold
interest which he has in and to the following described property:
All of the undersigned's undivided interest in the leasehold estate described in that one
certain Lease and Sublease Agreement entered into by and between the City of Lubbock
and G. Greenstreet, Inc., dated the 27th day of September, 1991, and as amended by
Amendment No. 1 to Lease and Sublease Agreement dated January 27, 1992, and as
amended by Supplemental Agreement No. 1 dated February 13, 1992, covering the
following described tract of land, to -wit:
A 2.79 acre tract of land out of Section 28, Block A, Lubbock County, Texas, and being
more particularly described by metes and bounds as follows, to -wit:
BEGINNING at a 1/2" iron rod, set for the Southwest and beginning corner of this tract,
whence the Southwest corner of Section 24 bears South 00°02'00" East, 637.34 feet and
South 89°59'30" West, 895.20 feet;
THENCE North, 347.50 feet to a 1/2" iron rod, set for the Northwest corner of this
tract;
THENCE East, 350.00 feet to a 1/2" iron rod, set for the Northeast corner of this tract;
THENCE South, 347.50 feet to a 1/2" iron rod, set for the Southeast corner of this tract;
THENCE West, 350.00 feet to the point of beginning.
Containing 2.79 acres.
2. Assignor does hereby warrant and represent to Assignee that the Leases are in full
force and effect and that there are no defaults in said Leases or any of the terms thereof and that
Assignor has not received prepayment of any rental as called for under the terms and conditions
of said Leases.
3. G. Greenstreet, Inc., Gary Greenstreet, Don Denton, and David Wood join in
this Assignment and Consent to Assignment of Leasehold Interest for the purpose of expressing
2
their consent to the assignment contemplated by this agreement and by the Deed of Trust of even
date herewith. The City of Lubbock, acting through its Mayor, also consents to the assignment
by the Assignor of his Leasehold Interest to the Assignee.
4. This Assignment shall be binding upon the undersigned, their heirs, personal
representatives, successors and assigns.
5. This Assignment and Consent to Assignment of Leasehold interest shall be subject
to and subordinate to all of the terms and conditions contained in the above -referenced Lease and
Sublease Agreement dated the 27th day of September, 1991, as well as any amendments and
supplemental agreements thereto and in particular the City of Lubbock's right under paragraphs
lg and lh on pages 12-13 of such Lease and Sublease Agreement to terminate the same.
Dated this 30th day of August, 1993.
3
ASSIGNqR
Tom Brown
ASSIGNEE
Lubbock ational Bank
By:
David Harmon, Senior Vice President
CONSENTING PARTIES
Don Denton
David W
ATTEST:
Betty M. Johnso
City Secretary
APPROVED AS TO CONTENT:
Bern E. Case
Director of Aviation
APPROVED AS TO FORM:
ze=4 kl)
Harold Willard
Assistant City Attorney
(Acknowledgement)
STATE OF TEXAS
COUNTY OF LUBBOCK
David R. Langston,
This instrument was acknowledged before me on the % 3'` day of
tg 19 9 , by Tom Brown.
��� iC�(.tir
Notary Public, State of Texas
Notary's name (printed):
Notary's commission expires: t—/ i /yG
4
(Corporate Acknowledgement)
STATE OF TEXAS
COUNTY OF LUBBOCK
`This instrument was acknowledged before me on the / day of
;",rr / ,� c_, , 19 ` _ S , by David Harmon, Senior Vice President of Lubbock National
Bank,"a national banking association, on behalf of said association.
Notary Public, State of Texas
Notary's name (printed):�ic.
Notary's commission expires:
(Corporate Acknowledgement)
STATE OF TEXAS
COUNTY OF LUBBOCK
This instrument was acknowledged before me on the /3 day of
, 19_2 3 , by Gary Greenstreet, President of G. Greenstreet, Inc., a
Texas c6rporation, on behalf of said corporation.
Notary Public, State of Texas
Notary's name (printed):
Notary's commission expires:
(Acknowledgement)
STATE OF TEXAS
COUNTY OF LUBBOCK
This instrument was acknowledged before me on the / �" day of
19 9 , by Gary Greenstreet.
Notary Public, State of Texas
Notary's name (printed): 11-1; a it �,iC lrrLS
Notary's commission expires:
5
(Acknowledgement)
STATE OF TEXAS
COUNTY OF LUBBOCK
This instrument was acknowledged before me on the / j ��`` day of
19 0/ 2� , by Don Denton.
Notary Public, State of Texas
Notary's name (printed): tvi i i / a
Notary's commission expires:: �Zc-
(Acknowledgement)
STATE OF TEXAS
COUNTY OF LUBBOCK
This instrument was acknowledged before me on the
, 19 , by David Wood.
Notary Public, State of Texas
Notary's name (printed):
Notary's commission expires:
(Acknowledgement)
STATE OF TEXAS
COUNTY OF LUBBOCK
day of
This instrument was acknowledged before me on the Z M day of
f(L , 19 q3 , by David R. Langston, as Mayor of the City of Lubbock.
LTBETMRl IZ M
.
Pdof o=0n "MN
Ci
otary Public, State of exas
Notary's name (printed):
Notary's commission expires:
LUBBOCK
NATIONAL
BANK
Mr. J. Robert Massengale
Assistant City Manager
City of Lubbock
P. 0. Box 2000
Lubbock, Texas 79457
Dear Robert:
September 3, 1993
Please find enclosed the assignment of Tom Brown's interest in the
sublease agreement with the City of Lubbock. Tom Brown is
requesting that Lubbock National Bank loan him $66,000 based on his
ownership in the lease agreement. We are going to make the loan
with the city and the partners acknowledging that he has assigned
his interest. Please sign the enclosed agreement and return to me
at Lubbock National Bank.
If you should have any questions about the agreement please give me
a call. Thank you for your help in this matter.
S' 2eely,
vid M. Ianon
Senior Vice President
Enclosure
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PO [tot 1100
akl1 501h �,t
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