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Home My WebLink AboutResolution - 052374H - Contract - College Avenue Co-Op - University Avenue - 05_23_1974RESOLUTION 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 directe to execute for and on behalf of the City of Lubbock a CONTRACT with COLLEGE AVENUE CO-OP re extension of time for payment of paving lien in exchange for a Street Dedication along University Avenue in the City of Lubbock, Lubbock County, Texas, attached herewith which shall be spread upon the minutes of the Council ani 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 23rd day of May , 197C � ass ROY SS, MAYOR ATTEST: Treva Phillips, City ecretary-Treasurer APPROVED AS TO FORM: Fred O. Senter, Jr., C, D CONTRACT TO EXTEND TIME OF PAYMENT OF A PAVING ASSESSMENT LIEN AND PROVIDE FOR THE CONTINUED VALIDITY OF SUCH LIEN IN EXCHANGE FOR STREET DEDICATION This agreement made as of the 23rd day of May, 1974, by and between COLLEGE AVENUE CO-OP, a Texas Corporation, sometimes also known as COLLEGE AVE- NUE CO-OP GINS and/or COLLEGE AVENUE COOPERATIVE GIN, being all one and the same entity, acting through its officers heretunto duly authorized, herein called "CO-OP" and the CITY.OF LUBBOCK, TEXAS, a Home Rule Municipality located in Lubbock County, Texas, acting by and through its Mayor,. herein called "CITY", said agreement becoming effective upon execution by both parties hereto. WITNESSETH: SECTION I - SUBJECT MATTER OF TRANSACTION The extension of time of payment of a paving assessment created by City Ordinance No. 6812 enacted February 14, 1974, and filed for record in Volume 1382, Pages 1-50 (inclusive) and particularly Pages 33 and 34 therein of the Deed Records of Lubbock County, Texas. This assessment being secured by a lien to pay the cost of paving adjacent to the following described tract of land, to -wit: BEGINNING at a point, said point being 85.0 feet N and 65..0 feet W of the SE corner of Section 12, Block E-2, Lubbock County, Texas; THENCE N 204. 0 feet to a point, said point being the beginning of a 15.0 foot curve to the left, the radius point which bears W 15.0 feet, and having a tangent of 15.0 feet and an arc length of 23.56 feet; THENCE around said 15.0 foot curve to the left a distance of 23.56 feet to a point; THENCE W 135. 0 feet to a point; THENCE South 249.0 feet to a point; THENCE East 120.0 feet to a point, said point being the beginning of a 30.0 foot curve to the left, the radius point of which bears North 30.0 feet, and having a tangent of 30.0 feet and an arc length of 47. 12 feet; THENCE around said curve to the left a distance of 47.12 feet to the POINT OF BEGINNING. For and in consideration of extension of time to pay off said lien as above des- cribed and on the terms herein set forth, Co -Op agrees immediately upon being ro quested in writing by City delivered by certified U. S.- mail -to College Avenue Co -Op, Route 7, Box 746, Lubbock, Texas 79461, to .execute and forward to the City a Dedication Deed on a form submitted by City to Co -Op contemporaneously' �• with this Agreement, dedicating a strip of land to the City and/or the Public for - -- —use as -a public -street covering the -following described tracts of real estate: TRACT I. BEGINNING at the Southeast corner of Section 12, Block E-2, Lubbock County, Texas; THENCE West along the South line of said Section 12, 290.0 feet to a point; THENCE North 55.00 feet to a point: THENCE East 195.00 feet to a point, said point being the beginning of a 30. 00 foot curve to the left, the radius point of which bears North 30.00 feet and, having a delta angle of 90 °, a tangent of 30.00 feet and an arc length of 47. 12 feet: THENCE in a Northeasterly direction around the arc of a curve to the left an arc length distance of 47. 12 feet to a point; THENCE North 202.0 feet to a point, said point being the beginning of a 15. 00 foot curve to the left the radius point of which bears West 15.00 feet and having a delta angle of 90% a tangent of 15. 00 feet and an arc length of 23. 56 feet; THENCE in a Northwesterly direction around the arc of a curve to the left an arc length distance of 23. 56 feet to a point; THENCE North 28.0 feet to a point; THENCE East 80. 00 feet to a point in the East line of Section 12; THENCE South along the East line of Section 12, a distance of 330.0 feet to the PLACE OF BEGINNING. TRACT II. - BEGINNING at the Northwest corner of Section 9, Block E, Lubbock County, Texas; THENCE South along the West line of said Section 9, Block E, a distance of 280.00 feet to a point; THENCE East a distance of 65.00 feet to a point; THENCE North a distance of 195.00 feet to a point, said point being the beginning of a 30.00 foot radius curve whose radius point bears East, having an angle of intersection of 60*00100", a tangent length of 30.00 feet, and an arc length of 47. 12 feet; THENCE around said curve to the right an arc length distance of 47. 12 feet to a point; THENCE East a distance of 195. 00 feet to a point;. THENCE North a distance of 55. 00 feet to a point -on the North line of said Section 9, Block E; THENCE West along the North line of said Section 9, Block E a distance of 290. 00 feet to THE POINT OF BEGINNING. 2 - If said dedication deed is not received by City within 30 days after date of this agreement in form suitable for recordation, then in such event this agreement may at option of City be declared null and void, and no longer of any force or effect. SECTION II For and in consideration of the City of Lubbock paying for the construction of the paving adjacent and abutting the hereinabove described property, CO-OP, its successors and assigns as owner of such property promises and does hereby by these presents promise to pay to the City of Lubbock $4, 223.04'on or before the end of the sixtieth (60th) month following the acceptance of the paving improvements by the City of Lubbock; or when CO-OP, its successors and assigns plats for dev- elopment under Article 974A, Vernon's Civil Statutes of Texas, all or any part of the real estate owned it which is adjacent to Tracts I and II above -described and/or which abuts 82nd St. or Univ. Ave4 or when CO-OP, its successors and assigns, sells all or any part of such real estate -- whichever event of said three events, shall first occur, and in any event not later than the end of said sixtieth (60th) month after acceptance of paving improvements by the City. SECTION III Should the herein above described paving assessment of $4, 223.04 on the here- inabove described property be paid in whole or in part later than the sixtieth (60th) month following acceptance of the paving improvements by the City of Lubbock, then the City shall charge and CO-OP, its successors and assigns agrees and obli- gates itself to pay six percent (676) per annum interest from and after the end of said sixtieth (60th) month on the principal amount of $4, 223.04 or so much thereof that remains unpaid. SECTION IV CO-OP, its successors and assigns, acknowledges the existence of the paving assessment lien against CO-OP under Sub -unit 1 of Unit No. 2233 of said Ordinance No. 6812, the hereinabove described property; such assessment lien created by City Ordinance No. 6812 and filed for record in the Deed Records of Lubbock County, Texas, in Volume 1382, pages 1-50 (inclusive) and particularly pages 33 -----arrd34-therein,-and-enacted-on-February 14,-.1-97-4, and further, CO-OP agrees 3 - that the hereinabove described paving assessment lien on the property described in said Ordinance shall remain valid, and this agreement shall in no wise be construed as a waiver or release by the City of Lubbock of said lien but same shall remain as security for this agreement and have the.same force and effect as though a paving certificate were issued under the terms of the above described Ordinance. Executed by the parties in duplicate originals as of the date first written in this agreement. COLLEGE AVENUE CO-OP ATTEST: By: DON LANGSTON. PRESIDENT John T. Alford, Secretary CITY OF LUBBOCK ATTEST: By: ROY BA , OR Treva Phillips, Cjji ecretary-Treasurer THE STATE OF TEXAS I COUNTY OF LUBBOCK i BEFORE ME, the undersigned authority, a Notary Public in and for said County, Texas, on this day personally appeared DON LANGSTON, known to me to be the per- son whose name is subscribed to the foregoing instrument and acknowledged to me that he executed the same as the act and deed of COLLEGE AVENUE CO-OP, and as PRESIDENT, for the purposes and consideration therein expressed, and in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this day of 1974. (SEAL) Notary Public, Lubbock County, Texas THE STATE OF TEXAS COUNTY OF LUBBOCK X BEFORE ME, the undersigned authority, a Notary Public in and for said County, Texas, on this day personally appeared ROY BASS, 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 pur- poses acid consideration therein. expressed, and in the capacity therein stated. GIVENUNDER MY HAND AND SEAL OF OFFICE this day'of 1974 'yo(SEAL) Notary Public, Lubbock County, Texas 4 -