HomeMy WebLinkAboutResolution - 071069D - Curb & Gutter Agreement - BMTSK Investment Co - North University Avenue - 07_10_1969RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LU13BOCK:
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 Curb and Gutter
Agreement in favor of BMTSK Investment Company, Inc., 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 10thday of July 1969.
v
. ROGE T, , MfYOR
ATTEST:
La nia Lowe, City Secretary -Treasurer
APPROVED:
Fred O. Senter, Jr. , C Attorney
THE STATE OF TEXAS i
COUNTY OF LU13BOCK i
WHEREAS, the properties owned by the undersigned abutt a portion of
North University Avenue within the incorporate limits of the City of Lubbock;
and,
WHEREAS, the State of Texas has undertaken a program to reconstr> t
and widen the paving along a portion of North University Avenue without
assessing the abutting property owners for the cost of such improvement;
and,
WHEREAS, the State of Texas will construct curb and gutter improve-
ments along North University Avenue contemporaneously with the paving
program upon reimbursement for actual costs of construction of curb and
gutter; and,
WHEREAS, the construction of curb and gutter would enhance the utility
and value of the improvements being constructed by the State as well as the
abutting property owned by the undersigned property owners; and,
WHEREAS, the undersigned property owners and the City of Lubbock
are desirous to construct curb and gutter along that portion of North
University Avenue being improved by the State of Texas;
NOW THEREFORE, KNOW ALL MEN BY THESE PRESENTS:
THAT, in consideration of the premises, the City of Lubbock agrees
with the undersigned property owner to reimburse the State of Texas for
the actual costs of construction of curb and gutter abutting its property
along North University Avenue. The undersigned property owner has of
even date herewith executed a Mechanic's and Materialman's Lien Contract
for the benefit of the City of Lubbock securing the City for the actual cost
of construction of curb and gutter along North University Avenue abutting
said owner's property. It is agreed by and between the said property
owners and the City of Lubbock that payment of the promissory note
secured by the Mechanic's and Materialman's Lien are deferred for
a period of ten (10) years after the completion of the curb and gutter
and acceptance by the City of Lubbock, provided that within this time
period, if any portion of the property abutting North University Avenue is
sold, platted, or developed, the pro rata amount of the Mechanic's and
Materialman's Lien promissory note will be paid within thirty (30) days
therewith. Any property abutting North University Avenue which is
subject to the Mechanic's and Materialman's Lien Contract which is
not sold, platted or developed by the property owners prior to the
expiration of ten (10) years after the completion of the curb and gutter
i
and acceptance by the City -of Lubbock, shall have the indebtedness cancelled
and the lien released by the City of Lubbock or its assigns.
ENTERED INTO this in day of .1111 1969.
CITY OF LUBBOCK—
.
ATTEST:.
� Cdy llttwrwy
Lavenia Lowe, City Secret ry-Treasurer
BMTSK INVESTME�NT /COMPANY, INC.
BY:
BILL DEMENT, PRESIDENT
ATTEST:
Edwin E. Merriman, 'Se'crebary
THE STATE OF TEXAS X
COUNTY OF LUBBOCK
BEFORE ME, the undersigned authority, a Notary Public in and for said
County, Texas, on this day personally appeared W. D. ROGERS, Jr., known to
me to be the person whose name is subscribed to the foregoing instrument
and acknowledged to me that he executed the same as the act and deed of the
CITY OF LUBBOCK and as MAYOR, for the purposes and consideration therein
expressed, and in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this _ day of ,
1969.
Notary Public, Lubbock County, Texas
R '
THE STATE OF TEXAS I
COUNTY OF LUBBOCK
BEFORE ME, the undersigned authority, a Notary Public in and for
said County, Texas, on this day personally appeared BILL DEMENT,
President of BMTSK INVESTMENT COMPANY, INC., a corporation,
known to me to be the person whose name is subscribed to the foregoing
instrument and acknowledged to me that he executed the same as the act
and deed of BMTSK INVESTMENT COMPANY, INC., a corporation, for
the purposes and consideration therein expressed and in the capacity
therein stated.
GIVE UNDER MY HAND AND SEAL OF OFFICE thislVida.y of
� Lt 1969.
Notary Public, Lubbock County, Texas !
I