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HomeMy WebLinkAboutResolution - 081575A - Sales Contract - Billy J. Angel - Bailey County - 08_15_1975oWe066 KJ: 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 Sales Contract in favor of BILLY J. ANGEL and MURIEL ANGEL, attached here- with 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 15th day of August , 1975. r-2 '&* I W SS. ROY BASS, MAYOR ATTEST: Treva PhillZ", 4Z.e�t_ ips, C' y Secretary -Treasurer APPROVED AS TO FORM: SALES CONTRACT This contract of sale has been entered into by and between BILLY J. ANGEL and MURIEL ANGEL, of Lamb County, Texas, hereinafter called "SELLERS;' and the CITY OF LUBBOCK, a Home Rule Municipality, of Lubbock County, Texas, hereinafter called "BUYER". WITNESSETH: The SELLERS agree to sell to the BUYER, and the BUYER agrees to pur- chase, upon the terms and provisions hereof, the following described real prop- erty, s ituated in Bailey County, Texas, to -wit: Labors 3, 4, & 5; League 207, Bailey County, Texas containing 531 acres, more or less, and personal prop- erty described on Exhibit A attached hereto and made a part hereof. The purchase price agreed upon for the purphase of the above described property is TWO HUNDRED TWENTY-FIVE and N0/100 DOLLARS ($225.00) per acre, a total of ONE HUNDRED NINETEEN THOUSAND, FOUR HUNDRED SEVENTY-FIVE and N0/100 DOLLARS ($119, 475. 00), to be paid in cash upon the consummation of the sale as provided below. The SELLERS agree to pay a 5% real estate commission to J. W. Chapman & Sons and Clay Turner upon the closing of this sale. The SELLERS agree to furnish BUYER either an Owner's Policy of Title Insurance or a complete Abstract of Title, tax certificates showing no delinquent taxes (current taxes, insurance and rents, if any, to be prorated to date of closing) a General Warranty Deed to be recorded at BUYER'S expense, conveying good and marketable title, subject only to the following: NONE. If Owner's Policy of Title Insurance is to be furnished hereunder, the same is to be delivered as and when the sale is closed, which shall be within seven (7) days from date hereof unless attorneys for said Title Company discover objections to title, in which case sale is to be closed when objections are removed, provided the objections are removed within a reasonable time, which in no event shall extend beyond thirty (30) days from date hereof. It is agreed that by the delivery of Owner's Policy of Title Insurance (form prescribed by State Board of Insurance of the State of Texas) under the terms of this contract, dated as of the date of closing and issued to BUYER in the amount of the total sales price, guaranteeing BUYER'S title to be good and indefeasible subject only to the foregoing exceptions, if any, and the following: 1. Restrictive covenants affecting the land described or referred to above. 2. Any discrepancies, conflicts, or shortages in area or boundary lines, or any encroachments, or any overlapping of improvements. 3. All taxes for the current and subsequent years. 4. Rights of parties in possession. all duties of the SELLERS as to the sufficiency of title required hereunder shall be deemed to be fully performned by SELLERS; however, SELLERS shall not thereby be released from the warranties of their deed. If a complete Abstract of Title is to be furnished hereunder, the same shall be certified by a reputable abstractor or abstractors to a current date and delivered bo BUYER within fourteen (14) days from date hereof and BUYER shall have fourteen (14) days from the date of receipt thereof within which to have it examined and written report made thereon, a copy of which report shall be delivered to SELLERS within that time, pointing out any objections to title made by BUYER, and no objection thereto shall be considered unless so pointed out. If no valid objections to the title are so pointed out, the sale is to be closed not later than seven (7) days after the expiration of the time herein allowed BUYER to have the abstract examined. If any valid objections to the title are so pointed out, SELLERS shall have a reasonable time not exceeding thirty (30) days from the date of delivery to SELLERS of the written report pointing out the objections to title, in which to cure and remove such objections and close this sale. Time is of the essence of this contract. Upon failure of either party hereto to comply herewith, the parties may at their option declare this contract null and void or enforce specific performance of the same. In addition, if title is found objectionable and is not cleared within the time provided, BUYER may declare the contract null and void or enforce specific performance hereof or seek such other relief as may be provided by law. Executed in multiple copies this day of 1975. SELLERS: BUYER: CI L BOCK BILLY J. GE VURIEL ANGEL ROY BASS, MAYOR ATTEST: ATTEST: reva Phillips, Cit ecretary-Treasurer THE STATE OF TEXAS COUNTY OF LUBBOCK BEFORE ME, the undersigned authority, a Notary Public in and for said County, Texas, on this day personally appeared ROY BASS, known to meto 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 I-t;day of �L A 4 1975. —•---- Notary Public, Lubbock County, Texas -2- THE STATE OF TEXAS § COUNTY OF LAMB § BEFORE ME, the undersigned authority, a Notary Public in and for said County, Texas, on this day personally appeared BILLY J. ANGEL, known to me to be the person whose name is subscribed to the foregoing instrument and ac- knowledged to me that he executed the same for the purposes and consideration therein expressed. GIVEN UNDER MY HAND AND SEAL OF OFFICE this day of 1975. Notary . li L"Co, Texas THE STATE OF TEXAS § COUNTY OF LAMB § BEFORE ME, the undersigned authority, a Notary Public in and for said County, Texas, on this day personally appeared MURIEL ANGEL, known to me to be the person whose name is subscribed to the foregoing instrument and ac- knowledged to me that he executed the same for the purposes and consideration therein expressed. IVEN U ER MY HAND AND SEAL OF OFFICE this day of 1975. Notary ic; amb Cou , Texas -3- EXHIBIT "A" 1 - 8"Pump and 428 Ford Motor 2 - ; mile side roll sprinklers 1 - z mile 4" hand -moved sprinkler 1 - 4 mile 6" flow line 1 - domestic submergible pump -4-