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HomeMy WebLinkAboutResolution - 042568A - Contract Of Sale Of Land - Lubbock Industrial Foundation - 04_25_1968KJ:E W T, 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 of Land with Lubbock Industrial Foundation, 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 Resolution as if fully copied herein in detail. Passed by the City Council this 25th day c ATTEST: -,l1 a % Lav nia Lowe, City Secretary -Treasurer APPROVED: red aOSeLejg;i6r.�T.City t - ne CONTRACT OF SALE OF LAND THE STATE.OF TEXAS ) MOW ALL MEN BY THESE PRESENTS: COUNTY OF LUBBOCK ) This contract, made and entered into this the 25th day of April, 1968, by and betvyeen the City of Lubbock, a Home Rule Municipal Corporation of Lubbock County, Texas, hereinafter referred to as "Seller," and Lubbock Industrial Foundation, a Texas non-profit corporation, with its principal place of busi- ness at Lubbock, Texas, hereinafter referred to as the "Purchaser," W I T N E S S E T H• The Seller agrees to sell and the Purchaser agrees to buy the land hereinafter described upon the following terms and conditions, to -wit: I. The land which is the subject of this contract is out of the Northwest Quarter of Section No. 5, Block A, in Lubbock County, Texas, and is approximately 3.9 acres of land, more or less, in approximately a triangular shape, the same being bounded on the North by Loop 289, on the West by Quirt Avenue, and on the South by the right-of-v,-ay line of the Panhandle and Santa Fe Railroad. It is understood that the acreage as set out above is approximate and that the purchase price stated herein shall be paid for the actual acreage to be determined by a survey hereafter made. The Purchaser agrees to pay for the above described land the sum of $600. 00 per acre, payable in cash at the time the trans- action is completed and deed is delivered to the Purchaser. The acreage to be determined by survey to be made at Purchaser's expense. IV. Seller agrees to convey said land to Purchaser by Special Warranty Deed, subject to easements, if any, for water, gas, and other underground utility lines, electric power lines, and other over- head utility lines whether or not recorded or unrecorded in the Deed Records of Lubbock County, Texas, or apparent on the ground, and other exceptions, reservations, and conditions hereafter set forth in paragraphs numbered X and XI. V. Seller agrees promptly to furnish to Purchaser a full, complete, certified Abstract of Title to the above described property certified to current date or at sellers option a title policy. In event an abstract is .furnished Purchaser agrees to submit to Seller in writing its objections, if any, to said title, within ten (10) days from the receipt of said abstract. Seller shall have a reasonable time, not to exceed ninety (90) days from the date of this contract within which to cure or remove said objections. If the title to said property, as shown by the abstract, is not good and merchantable, and the objections thereto are not cured or removed by the Seller in the manner and within the time herein stated, Purchaser shall have the right to declare this contract at an end, or at Purchaser's option may waive said objections and consummate this contract; these are the only alternatives available to Purchaser in the event said title is not merchantable. -2- VI. Purchaser's failure to make objections to said title within ten (10) days time shall be construed as an acceptance of said title. VII. In the event Seller is unable to meet any valid legal objection, or elects not to met any objection, Purchaser may waive any objections and accept title as reflected in the abstract submitted in accordance with this contract. VIII. Upon payment in full by the Purchaser to the Seller of cash payment hereinabove specified, and upon full performance by the Purchaser of all other obligations imposed upon it by this contract, then the Seller shall execute and deliver to the Purchaser its Special Warranty Deed conveying the said land and premises to the Purchaser subject to the stipulations contained in this con- tract. IX. Purchaser certifies that it has, acting through its of- ficers and agents, examined said premises prior to and as a condi- tion precedent to its acceptance and execution of this contract and is satisfied with the physical condition of said premises, and agrees that its acceptance of a deed hereafter shall be conclusive evidence of the receipt of said premises in condition satisfactory to Purchaser, and Purchaser agrees and admits that no representa- tion as to the condition or repair of said premises has been made by the Seller or any one representing Seller, and likewise agrees and admits.that no agreement or promise to alter, repair, or im- prove said premises has been made by the Seller or anyone acting for and on behalf of the Seller. X. It is expressly agreed and understood by Purchaser that Seller reserves from the lands herein described a tract of land 50' x 50' in dimensions with the Seller's water well now situated upon said land located in the center of said tract, the same being in the West part of the land described in paragraph I above. The description of such excepted tract of land to be determined by a survey at the expense of Seller, and to be specifically described in the conveyance herein con- templated. XI. The conveyance to Purchaser shall likewise be subject to the following express covenants, conditions, exceptions, and reservations to be made and expressed therein: (1) The Seller shall reserve the right of ingress and egress to operate, maintain, and/or reconstruct any portion of all of its electric supply line and other utility lines, the exact description of which will be more particularly described in the herein anticipated conveyance. Provided further, however, that the location of such lines shall be limited to the areas where they are now located and once the exact description of such locations is determined, Purchaser may then determine the acceptability thereof and may, at its option, cancel this contract if the same is unacceptable. (2) Seller shall reserve unto itself in fee simple all of the underground water, oil, gas and other minerals in, under and that may be produced from said land. -4- (3) In the form of a restrictive covenant running with the land, Seller may require Purchaser to refrain from any activity upon said land which would result in pollution of the underground water. (4) In addition to the other easements hereinabove described, Owner reserves an aviation easement over all the land and shall include, but not be limited to, waiver of any and all damages which may be caused by noise, vibration, dust, smoke, fumes, or other damages arising out of or by virtue of the f light of aircraft landing and taking off from the Lubbock Municipal Airport by whomsoever owned and operated in, through and across air space above the lands herein conveyed. Maximum height for construction of improvements upon the land here under contract is limited to fifty (50) feet above the ground level. Purchaser shall refrain from any use of this land which would result in electronic interference with aircraft navigation or communication and from any maintenance of external lighting which interferes with flights to or from Lubbock Municipal Airport. RII. The Seller anticipates and Purchaser agrees that there may be a necessity to use a part or parcels of the land included in this agreement for public municipal purposes, and Purchaser specifically and specially agrees with Seller that if in fact, such an actual need for public municipal purposes arises, and Seller gives to Purchaser x-mitten notice of such need, then Purchaser agrees and obligates itself to re -convey 'to. Seller such of said property as may at the time of receipt by Purchaser -5 of such notice be still owned by Purchaser and not then under written'contract of sale and the consideration for such re - conveyance shall be on the' sa:rz,basis as the purchase price herein stated, namely, at the rate of $600.00 per acre. Such re -conveyance shall be accomplished within thirty (30) days after receipt of such notice by Purchaser. EXECUTED IN DUPLICATE on the date herein first above written. CITY OF LUBBOCK ATTEST: _ By: Lavenia Lowe W.D. ROGERS, JR., Mayor City Secretary -Treasurer r ed r Attor y LUBBOCK INDUSTRIAL FOUNDATION ATTEST: By: Secretary President -6- THE STATE OF TEXAS ) COUNTY OF LUBBOCK ) BEFORE IZ, the undersigned authority, a Notary Public in and for said County and State, on this day personally appeared W. D. ROGERS, JR., Mayor of the City of Lubbock, Texas, known to me_to.be the person whose narm is subscribed to the foregoing in- strum--nt, and acknowledged to m that he executed the sari as the act and deed of the said City of Lubbock, for the purposes and .consideration therein expressed, and in the capacity therein stated. GIVEN UNDER MY HAND -AND- SEAI;- OF OFFICE, this day of April, 1968. Notary Public in and for Lubbock _. ---County, Texas THE STATE OF TEXAS ) COUNTY OF LUBBOCK ) BEFORE 12, the undersigned authority, a Notary Public in and for said County and State, on this day personally appeared _ President. of -Lubbock. Industrial Foundation, known to me to be the person and officer whose name is subscribed to the foregoing instrument, and acknowledged to m- that he executed the same as the act- and deed -of said Lubbock Industrial Foundation, for the purposes and consideration therein expressed, and in the capacity therein stated. GIVEN UNDER Dif HAND AND SEAL OF OFFICE, this _day of April, 1968. Notary Public in and for Lubbock County, Texas -7 -