HomeMy WebLinkAboutResolution - 2003-R0518 - Contract For Sale - Foot LLC - 11_17_2003Resolution No. 2003--RO518
November 17, 2003
Item No. 18
RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the City Council of the City of Lubbock hereby awards the ITB #186-
03/RS to Buy the Foot LLC, and authorizes the Mayor of the City of Lubbock to
execute for and on behalf of the City of Lubbock all related documents to said ITB.
Further, the City Council of the City of Lubbock consents to the assignment of the ITB
by Howard Thrash to Buy the Foot LLC. Said ITB and related documents are attached
hereto and incorporated in this Resolution as if fully set forth herein and shall be
included in the minutes of the Council.
Passed by the City Council this 17th day of
ATTEST:
Re ecca Garza, City Secretary
APPROVED AS TO CONTENT:
Ed Bucy, R'-ight-of-"Way'Aga9t
APPROVED AS FORM:
Richard K. Casner
First Assistant City Attorney
kdccdocs/ITB I86.03.ComractSake.res
November 6, 2003
November 2003.
MCDOU$AL, MAYOR
ITB #186-031RS, Sale of City of Lubbock Owned Property
Located at 1533 East 341h Street and 1401 240 Street, Lubbock, Texas
Resolution No. 2003—RO518
November 17, 2003
CONTRACT FOR SALE Item No. 18
THIS CONTRACT, effective as of NOVEMBER 17, 2003 (the "Effective Date"), is made by and
between the undersigned bidder (the "Buyer"), and the City of Lubbock, a Texas Home Rule Municipal
Corporation (the "Seller").
WITNESSETH:
WHEREAS, Seller owns that certain tract of land located in Lubbock County, Texas, being
described on Exhibit "A" attached hereto (the "Land"); and
WHEREAS, Seller desires to sell and convey the Land, the rights appurtenant to the Land, and
the fixtures affixed to the Land (collectively, the "Property") to Buyer.
ARTICLE I
SALE AND PURCHASE
Section 1.1. Subject to the terms and conditions and reservations set forth in this Contract,
Seller shall sell and Buyer shall purchase and pay for, on NOVEMBER �17, 2003, or at such time
thereafter as the Seller may direct (the "Closing Date"), without warranty, either expressed or implied,
the Property.
ARTICLE II
PURCHASE PRICE
Section 2.1. Purchase Price. The Purchase Price (herein so called) to be paid by Buyer to
Seller for the Property shall be ONE THOUSAND ONE DOLLARS AND NO110O Cents ($1001.00).
Section 2.2. Payment of Purchase Price. The Purchase Price shall be payable to Seller, in
cash or other immediately available funds, at the Closing Date.
ARTICLE III
INDEPENDENT INVESTIGATION AND DISCLAIMER
Section 3.1. Independent Evaluation. Buyer has made an independent inspection and
evaluation of the Property and the title to same and acknowledges that Seller, except as provided in
the Contract Documents, as defined below, has made no statements or representations concerning the
present or future value of the Property, the state of the title to the Property, the condition, including
the environmental condition of the Property, or the anticipated income, costs, or profits, if any, to be
derived from the Property. FURTHER, SELLER MAKES NO REPRESENTATION OR WARRANTY
WHATSOEVER, EXPRESSED, STATUTORY, OR IMPLIED, INCLUDING, BUT WITHOUT LIMITATION, AS TO THE
DESCRIPTION, TITLE, INCLUDING, WITHOUT LIMITATION, TO THE EXISTENCE OF LIENS AGAINST THE
PROPERTY, THE VALUE, QUALITY, PHYSICAL AND ENVIRONMENTAL CONDITION OF THE PROPERTY
AND/OR MATERIALS CONTAINED OR LOCATED IN, ON OR UNDER THE PROPERTY AND/OR IMPROVEMENTS
LOCATED THEREON, THE NATURE OF THE PAST OR HISTORIC USE OF THE PROPERTY, MERCHANTABILITY,
OR FITNESS FOR PURPOSE OF ANY OF THE PROPERTY. Buyer further acknowledges that, in entering into
this Contract, he/she/it has relied solely upon his/her/its independent evaluation and examination of
the Property and public records relating to the Property and the independent estimates, computations,
evaluations and studies based thereon. Seller makes no warranty or representation as to the accuracy,
completeness or usefulness of any information furnished to Buyer, if any, whether furnished by Seller or
031TBSaleRE.doc 5
ITB #188-03/RS, Sale of City of Lubbock Owned Property
Located at 1533 East 340' Street and 1401 24u' Street, Lubbock, Texas
any other third party. Seller, its officers, employees, elected officials and agents assume no liability
for the accuracy, completeness or usefulness of the material furnished by the Seller, or any of its
officers, employees, elected officials and/or agents, if any, and/or any other person or party. Reliance
on any material so furnished shall not give rise to any cause, claim or action against Seller, its officers,
employees, elected officials and/or agents, and any such reliance shall be at Buyer's sole risk.
Section 3.2. Disclaimer -No Warranty. Expressed or Implied. THE QUITCLAIM OF THE
PROPERTY SHALL BE ON A "WHERE IS", "AS IS" AND "WITH ALL FAULTS" BASIS, AND SHALL BE WITHOUT
REPRESENTATION OR WARRANTY WHATSOEVER, EXPRESSED, STATUTORY OR IMPLIED, INCLUDING, BUT
WITHOUT LIMITATION, AS TO TITLE, INCLUDING, BUT NOT LIMITED TO THE EXISTENCE OF LIENS AGAINST
THE PROPERTY, THE DESCRIPTION, PHYSICAL AND ENVIRONMENTAL CONDITION OF THE PROPERTY
AND/OR MATERIALS CONTAINED OR LOCATED IN, ON OR UNDER THE PROPERTY AND/OR IMPROVEMENTS
LOCATED THEREON, THE NATURE OF THE PAST OR HISTORIC USE OF THE PROPERTY, QUALITY, VALUE,
FITNESS FOR PURPOSE, MERCHANTABILITY, OR OTHERWISE. Buyer has satisfied hisself/herself/itself, as
to the title, type, condition, quality and extent of the property and property interests which comprise
the Property he/she/it is receiving pursuant to this Contract.
ARTICLE IV
REPRESENTATIONS, WARRANTIES
AND COVENANTS OF BUYER
Section 4.1. Representations, Warranties and Covenants of Buyer. To induce Seller to enter
into this Contract and to consummate the sale and purchase of the Property in accordance herewith,
Buyer represents and warrants to Seller, as of the Closing Date, that:
(a) Buyer has the full right, power and authority to purchase the Property from Seller as
provided in this Contract and to carry out all of Buyer's obligations under this Contract,
and all requisite action necessary to authorize Buyer to enter into this Contract and to
carry out Buyer's obligations hereunder have been, or on or before the Closing Date,
will have been taken.
(b) Buyer hereby acknowledges that Buyer has been advised by Seller that it should
conduct, and Buyer acknowledges, and represents and warrants to Seller, that it has
conducted all investigation activities described herein.
(c) Buyer has not contracted or entered into any agreement with any real estate broker,
agent, finder, or any other party in connection with this transaction and has not taken
any action which would result in any real estate broker commissions or finders' fee or
any other fee or fees payable to any other party with respect to the transaction
contemplated in this Contract.
(d) Buyer shall comply with all applicable federal, state and local laws, statutes,
ordinances, rules and regulations relating, in any way, manner or form, to any aspect of
the transaction contemplated by this Contract.
Section 4.2. Survival Beyond Closing. The representations, warranties and covenants of
Buyer contained in this Contract, as set forth in this Article IV shall survive the Closing.
ARTICLE V
INDEMNITY AND RELEASE
Section 5.1. Indemnity. TO THE FULLEST EXTENT PERMITTED BY LAW, BUYER RELEASES AND
SHALL INDEMNIFY AND HOLD HARMLESS SELLER, AND SELLER'S RESPECTIVE OFFICERS, EMPLOYEES,
ELECTED OFFICIALS AND AGENTS, FROM AND AGAINST ANY AND ALL CLAIMS WHICH ARISE DIRECTLY OR
031TBSaleRE,doc 6
ITB #186-03/RS, Sale of City of Lubbock Owned Property
Located at 1533 East 341' Street and 1401 24t' Street, Lubbock, Texas
INDIRECTLY, OR ARE RELATED, IN ANY WAY, MANNER OR FORM, TO THE TRANSACTIONS AND ACTIVITIES
CONTEMPLATED HEREUNDER, THE OMISSION OF THE TRANSACTIONS AND ACTIVITIES HEREUNDER, OR
CAUSED BY, CONNECTED WITH, OR RELATED TO THE PRESENCE, DISPOSAL, OR RELEASE OF ANY
MATERIAL OF ANY KIND INCLUDING, WITHOUT LIMITATION, HAZARDOUS SUBSTANCES, AS DEFINED IN THE
COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION AND LIABILITY ACT (42 U.S.C.S.
§9601(14)), AND THE REGULATIONS PROMULGATED THEREUNDER, AS EACH OF SAME MAY BE AMENDED,
PETROLEUM AND PETROLEUM PRODUCTS AND BYPRODUCTS AND/OR ASBESTOS IN ANY FORM, FROM OR
UPON THE PROPERTY AT THE TIME IT IS CONVEYED TO BUYER OR THEREAFTER, EVEN THOUGH ANY OF
THE ABOVE ARE CAUSED, OR CONTRIBUTED TO, BY THE NEGLIGENCE OR FAULT OF SELLER, ITS
RESPECTIVE OFFICERS, EMPLOYEES, ELECTED OFFICIALS AND/OR AGENTS. THE BUYER FURTHER
COVENANTS AND AGREES TO DEFEND ANY SUITS OR ADMINISTRATIVE PROCEEDINGS BROUGHT AGAINST
THE SELLER, AND/OR THE SELLER'S RESPECTIVE OFFICERS, EMPLOYEES, ELECTED OFFICIALS AND/OR
AGENTS ON ACCOUNT OF ANY SUCH CLAIM, AND TO PAY OR DISCHARGE THE FULL AMOUNT OR
OBLIGATION OF ANY SUCH CLAIM INCURRED BY, ACCRUING TO, OR IMPOSED ON THE SELLER, THE
SELLER'S RESPECTIVE OFFICERS, EMPLOYEES, ELECTED OFFICIALS AND/OR AGENTS, AS APPLICABLE,
RESULTING FROM ANY SUCH SUITS, CLAIMS AND/OR ADMINISTRATIVE PROCEEDINGS OR ANY MATTERS
RESULTING FROM THE SETTLEMENT OR RESOLUTION OF SAID SUITS, CLAIMS, AND/OR ADMINISTRATIVE
PROCEEDINGS. IN ADDITION, THE BUYER SHALL PAY TO THE SELLER, THE SELLER'S RESPECTIVE
OFFICERS, EMPLOYEES, ELECTED OFFICIALS AND/OR AGENTS, AS APPLICABLE, ALL ATTORNEYS' FEES
INCURRED BY SUCH PARTIES.
Section 5.2. Survival Beyond Closing. The indemnity provisions contained in this Contract,
as set forth in this Article V, shall survive the Closing.
ARTICLE VI
EARNEST MONEY
Section 6.1 Earnest Money. Buyer shall deposit ten percent (10%) of the Purchase Price, as
Earnest Money (herein so called), in cash or cashier's check, with Victor Kilman, P. 0. Box 2000,
Lubbock, Texas 79457, (806) 775-2352, upon execution of this Contract by Buyer. in the event Buyer
shall not be awarded the bid for the purchase of the Property, the Earnest Money shall be returned to
the Buyer, upon Buyer's execution of a release satisfactory in form and substance to Seller, on or
before ten (10) business days after the awarding of the successful bid. Seller shall be deemed to have
offered to return the Earnest Money deposit upon contacting Buyer at the address and/or phone number
set forth in the Bid Form described in Section 11.01, below.
ARTICLE V11
CONDITIONS PRECEDENT TO SELLER'S PERFORMANCE
Section 7.1. Breach of Buyer's Representations, Warranties and Covenants. Seller is not
obligated to perform under this Contract unless all of the representations, warranties, covenants and
agreements of Buyer set forth in this Contract are true and correct in all material respects as of the
Closing Date.
ARTICLE VIII
CLOSING
Section 8.1. Place of Closing. The Closing (herein so called) shall take place on the Closing
Date in the offices of the City of Lubbock, Office of the Right -of -Way Agent, Ed Bucy, 1625 13th Street,
Lubbock, Texas.
Section 8.2. Closing.
031TBSateRE.doc
JTB #186-03IRS, Sale of City of Lubbock Owned Property
Located at 1533 East 340' Street and 1401 241h Street, Lubbock, Texas
(a) Items to be Delivered at Closing - Seller. At Closing, Seller shall deliver to Buyer, at its
sole cost and expense, the following item:
(i) A Quitclaim Deed, in the form attached hereto as Exhibit "B", duly executed by
Seller and acknowledged. Buyer shall be responsible for any and all costs
associated with the recording of said Quitclaim Deed.
(b) Items to be Delivered at Closing - Buyer. At Closing, Buyer shall deliver to the Seller
the following items:
(i) the cash sum required by Section 2.1;
(ii) A Quitclaim Deed, in the form attached as Exhibit "B", duly executed by Buyer
and acknowledged;
(iii) any other items reasonably requested by the Seller as administrative
requirements for consummating the Closing.
Section 8.3. Responsibilities of Buyer. Notwithstanding anything to the contrary herein, this
Section 8.3 shall survive the Closing. Buyer shall be solely responsible for the following items:
(a) Ad valorem taxes relating to the Property for the calendar years prior to the year in
which the Closing shall occur, if any, shall be the sole responsibility of, and shall be paid by Buyer, at
Closing. Further, all ad valorem taxes relating to the Property for the calendar year in which the
Closing shall occur, if any, shall be the sole responsibility of Buyer and Buyer shall promptly pay such ad
valorem taxes when same become due and owing.
ARTICLE IX
DEFAULTS AND REMEDIES
Section 9.1. Seller's Default, Buyer's Remedies.
(a) Seller's Defaults. Seller is in default under this Contract if Seller fails to meet, comply
with, or perform in any material respect any obligation on Seller's part required herein within the time
limits and in the manner required by this Contract.
(b) Buyer's Remedies. If Seller is in default hereunder, Buyer may, as Buyer's sole and
exclusive remedy, terminate this Contract and, following the expiration of five (5) calendar days after
written notice delivered to Seller, receive the Earnest Money as liquidated damages.
Section 9.2 Buyer's Default: Seller's Remedies.
(a) Buyer's Defaults. Buyer is in default under this Contract if Buyer fails to:
(i) meet, comply with, or perform in any material respect, any obligation on
Buyer's part required herein within the time limit and in the manner required
by this Contract.
(b) Seller's Remedies. If Buyer is in default under this Contract, Seller may terminate this
Contract and retain the Earnest Money and bring an action for specific performance or damages, and
pursue any other remedy available to Seller at law, in equity and under the terms of this Contract. The
exercise of any right or remedy shall not preclude the concurrent or subsequent exercise of any other
right or remedy and all rights and remedies shall be cumulative.
031TBSaleRE.doc
X,uvc..) K_vt_,J 10
ITB #186-031RS, Sale of City of Lubbock Owned Property
Located at 1533 East 34a' Street and 1401 24`s Street, Lubbock, Texas
ARTICLE X
NOTICE
Section 10.01. Notice. Whenever notice from Buyer to Seller or from Seller to Buyer is
required or permitted by this Contract and no other method of notice is provided, such notice shall be
given by (i) actual delivery of the written notice to the other party by hand or telephone facsimile (in
which case such notice shall be effective upon delivery); or (ii) by depositing the written notice in the
United States mail, postage prepaid, properly addressed to the other party at the address provided in
this article, registered or certified mail, return receipt requested, in which case such notice shall be
effective on the third business day after such notice is so deposited.
are:
are:
Section 10.02. Seller's Address. The Seller's address and numbers for the purpose of notice
SELLER: CITY OF LUBBOCK
Ed Bucy
Right -of -Way Agent
P. 0. Box 2000
Lubbock, Texas 79457
(806)775-2352
Section 10.03. Buyer's Address. The Buyer's address and numbers for the purpose of notice
BUYER: Buy the Foot LLC
2010 Broadway
Lubbock, Texas 79401
(806) 741-0303 (Telephone Number)
(806) 744-4271 (Telephone Facsimile Number)
ARTICLE XI
RESERVATION OF EASEMENT
Section 11.01. Reservation of Easement. Seller, for itself, its successors and assigns, and for
the use and benefit of the public, shall, at the time of quitclaim, reserve a perpetual and permanent
easement and right-of-way, together with the right of ingress and egress, for the purposes of installation,
construction, operation, reparation, reconstruction, and maintenance of water, sewer, cable, telephone,
power, gas, electricity, and any and all other utility structures and facilities, of any kind or nature, over,
under, on and across that portion of the Land, being thirty feet (30') in width, located along the (i) east; (li)
northeast; and (iii) north, boundaries of the Land.
ARTICLE XII
MISCELLANEOUS
Section 12.01. Entire Agreement. This Contract, including all exhibits and parts hereof,
including the Invitation to Bid, Bid Form and General Conditions relating to Invitation to Bid Number
031TBSaleRE.doc
ITB #186-031RS, Sale of City of Lubbock Owned Property
Located at 1533 East 34a' Street and 1401 24t' Street, Lubbock, Texas
ITB #186-03/RS hereto (the "Contract Documents"), contain the entire agreement between the Seller
and Buyer, and there are no other written or oral promises, conditions, warranties, or representations
relating to or effecting the matters contemplated herein.
Section 12.02. Amendment. No amendment, modification, or alteration of the terms of this
Contract shall be binding unless such amendment, modification, or alteration is in writing, dated
subsequent to the date of this Contract, and duly executed by the Seller and Buyer.
Section 12.03. Construction and Venue. THIS CONTRACT AND THE TRANSACTIONS
CONTEMPLATED HEREIN SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF TEXAS. THE PARTIES HERETO HEREBY IRREVOCABLY CONSENT TO THE EXCLUSIVE
JURISDICTION AND VENUE OF THE COURTS OF THE STATE OF TEXAS, COUNTY OF LUBBOCK, FOR
PURPOSES OF ALL LEGAL PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE
TRANSACTIONS AND ACTIVITIES CONTEMPLATED HEREBY.
Section 12.04. Severability. If any provision, or part thereof, of this Contract is ever held to
be invalid or ineffective by any court of competent jurisdiction with respect to any person or
circumstance, the remainder of this Contract and the application of such provision to persons and/or
circumstances other than those with respect to which it is held invalid or ineffective shall not be
affected thereby.
Section 12.05. Successors and Assigns. This Contract binds and inures to the benefit of the
Seller and Buyer, and to Seller's, and to the extent permitted, Buyer's, respective successors, legal
representatives, heirs, devisees and assigns.
Section 12.06. Risk of Loss. If any part of the Property is materially damaged or destroyed by
fire or other casualty loss, Buyer may either (i) terminate this Contract, provided that notice of
termination is given by Buyer to Seller, as provided herein, on or before the Date of Closing; or (ii)
accept the Property in its damaged condition and close the transaction contemplated by this Contract.
Section 12.07. Attorney's Fees. If either party hereto shall be required to utilize an attorney
to enforce or defend the rights of such party hereunder, the prevailing party shall be entitled to
recover its reasonable attorney's fees. Except as otherwise provided herein, each party hereto shall be
solely responsible for all expenses, including but not limited to attorney's fees, incurred by him or her,
in connection with the Contract and the transaction contemplated hereby.
Section 12.08. Captions. The captions of articles and sections in this Contract are inserted in
this Contract strictly for the parties' convenience in identifying the provisions to this Contract and shall
not be given any affect in construing this Contract.
Section 12.09. Incorporation of Contract Documents. The terms and provisions of the Contract
Documents are hereby incorporated into this Contract for Sale for all intents and purposes.
031TBSaleRE.doc 11)
c.UUC) - U-U*">t6
ITS #186-031RS, Sale of City of Lubbock Owned Property
Located at 1533 East 34 h Street and 1401 24a' Street, Lubbock, Texas
EXECUTED this 17TH day of NOVEMBER, 2003.
4ER: SELLER: CITY OF LUBBOCK
000,
F T C _ OR
BY: Howard G. Thrash, II ATTEST:
TITLE: Member and Manager
'_Oa
Reb6cca Garza, City Secretary
APPROVED AS TO CONTENT:
Ed Bucy, Right -of -Way Kgent
APPROVED AS TO FORM:
Richard K. Casner
First Assistant City Attorney
031T13SaIeRE.doc 11
4 vv...a — iw:-,;, 10
ITB #186-031RS, Sale of City of Lubbock Owned Property
Located at 1533 East 34a' Street and 1401 24th Street, Lubbock, Texas
EXHIBIT "A"
To
Contract for Sale
REAL PROPERTY DESCRIPTION
1533 East 34th Street
Resolution No. 2003RO518
Lubbock, Texas
Legal Description: The West 241.08 feet of Block Eight (8), Carroll's Resubdivision to the City of
Lubbock, Lubbock County, Texas, save and except approximately 0.10 acres thereof, heretofore
conveyed to the Fort Worth and Denver Railway Company for right-of-way, address of 1533 E. 34th
street.
031TBSaleRE.doc 12
14- UU (!5 K_%J -1) l'6
ITB #186-03/RS, Sale of City of Lubbock owned Property
Located at 1533 East 34 h Street and 1401 241h Street, Lubbock, Texas
EXHIBIT "B"
To
Contract for Sale
QUITCLAIM DEED
STATE OF TEXAS S
COUNTY OF LUBBOCK 5
Resolution No. 2003R0518
The City of Lubbock, a Texas Home Rule Municipal Corporation (the "Grantor"), for and in
consideration of the sum of TEN AND NO/100 DOLLARS ($10.00) and other good and valuable
consideration, the receipt and sufficiency of which is herein acknowledged, subject to the reservation
below, has QUITCLAIMED, and by this instrument does QUITCLAIM to BUY THE FOOT LLC ("Grantee"), all
of its right, title, and interest in and to that certain real estate (the "Property"), Lying and being
situated in Lubbock County, Texas, being described on Exhibit "A" attached hereto.
Grantor, for itself, its successors and assigns, and for the use and benefit of the public, herein
reserves a perpetual and permanent easement and right -of- way, together with the right of ingress and
egress, for the purposes of installation, construction, operation, reparation, reconstruction, and
maintenance of water, sewer, cable, telephone, power, gas, electricity, and any and all other utility
structures and facilities, of any kind or nature, over, under, on and across that portion of the Property,
being thirty feet (30') in width, located along the (i) east; (ii) northeast; and (iii) north, boundaries of
the Property.
Grantee has made an independent inspection and evaluation of the Property and the title to
same and acknowledges that Grantor has made no statements or representations concerning the
present or future value of the Property, the state of the title to the Property, the condition, including
the environmental condition of the Property, or the anticipated income, costs, or profits, if any, to be
derived from the Property. FURTHER, GRANTOR MAKES NO REPRESENTATION OR WARRANTY
031TBSaleRE.doc 13
G... � -- I—) I" C-) 16
ITB #186-031RS, Sale of City of Lubbock Owned Property
Located at 1533 East 340 Street and 1401 24u' Street, Lubbock, Texas
WHATSOEVER, EXPRESSED, STATUTORY, OR IMPLIED, INCLUDING, BUT WITHOUT LIMITATION, AS TO THE
DESCRIPTION, TITLE, INCLUDING, WITHOUT LIMITATION, TO THE EXISTENCE OF LIENS AGAINST THE
PROPERTY, THE VALUE, QUALITY, PHYSICAL AND ENVIRONMENTAL CONDITION OF THE PROPERTY
AND/OR MATERIALS CONTAINED OR LOCATED IN, ON OR UNDER THE PROPERTY AND/OR IMPROVEMENTS
LOCATED THEREON, THE NATURE OF THE PAST OR HISTORIC USE OF THE PROPERTY, MERCHANTABILITY,
OR FITNESS FOR PURPOSE OF ANY OF THE PROPERTY. Grantee further acknowledges that he/she/it has
relied solely upon his/her/its independent evaluation and examination of the Property and public
records relating to the Property and the independent estimates, computations, evaluations and studies
based thereon. Grantor makes no warranty or representation as to the accuracy, completeness or
usefulness of any information furnished to Grantee, if any, whether furnished by Grantor or any other
third party. Grantor, its officers, employees, elected officials and agents assume no liability for the
accuracy, completeness or usefulness of the material furnished by the Grantor, or any of its officers,
employees, elected officials and/or agents, if any, and/or any other third party. Reliance on any
material so furnished shall not give rise to any cause, claim or action against Grantor, its officers,
employees, elected officials and/or agents, and any such reliance shall be at Grantee's sole risk.
THE QUITCLAIM OF THE PROPERTY IS ON A "WHERE IS", "AS IS" AND "WITH ALL FAULTS" BASIS,
AND IS WITHOUT REPRESENTATION OR WARRANTY WHATSOEVER, EXPRESSED, STATUTORY OR IMPLIED,
INCLUDING, WITHOUT LIMITATION, AS TO TITLE, INCLUDING, BUT NOT LIMITED TO THE EXISTENCE OF
LIENS AGAINST THE PROPERTY, THE DESCRIPTION, PHYSICAL AND ENVIRONMENTAL CONDITION OF THE
PROPERTY AND/OR MATERIALS CONTAINED OR LOCATED IN, ON OR UNDER THE PROPERTY AND/OR
IMPROVEMENTS LOCATED THEREON, THE NATURE OF THE PAST OR HISTORIC USE OF THE PROPERTY,
QUALITY, VALUE, FITNESS FOR PURPOSE, MERCHANTABILITY, OR OTHERWISE.
TO HAVE AND TO HOLD all of the right, title and interest in and to these premises, together
with all and singular the rights, privileges, and appurtenances to the premises in any manner belonging
to the Grantee, his/her/its heirs and assigns forever, so that neither the Grantor, nor any of the
031TBSa1eRE.doc 14
w:D = lest) 16
ITB #186-03IRS, Sale of City of Lubbock Owned Property
Located at 1533 East 3401 Street and 140120 Street, Lubbock, Texas
Grantor's legal representatives, nor any persons claiming under the Grantor shall any time in the future
have, claim, or demand any right or title to the property described above.
Executed this day of , 200_ .
GRANTOR:
CITY OF LUBBOCK
MARC MCDOUGAL, MAYOR
ATTEST:
Rebecca Garza, City Secretary
APPROVED AS TO CONTENT:
Ed Bucy, Right -of -Way Agent
APPROVED AS TO FORM:
Richard K. Casner
First Assistant City Attorney
STATE OF TEXAS §
COUNTY OF LUBBOCK 5
This instrument was acknowledged before me on , by MARC MCDOUGAL,
Mayor of the City of Lubbock, Lubbock County, Texas.
Notary Public in and for the State of Texas
My Commission Expires:
031TBSaleRE.doc 15
ITB #186-031RS, Sale of City of Lubbock Owned Property
Located at 1533 East 34a' Street and 1401 24a' Street, Lubbock, Texas
GRANTEE:
BUY THE FOOT LLC
Howard G. Thrash II, Member and Manager
STATE OF TEXAS
COUNTY OF LUBBOCK S
This instrument was acknowledged before me on , by Howard G. Thrash
II, Member and Manager, Buy the Foot LLC.
Notary Public in and for the State of Texas
My Commission Expires:
03ITBSaleRE.doc 16
- K-U'L) f t
ITB #186-031RS, Sale of City of Lubbock Owned Property
Located at 1533 East 34t' Street and 1401 24t' Street, Lubbock, Texas
EXHIBIT "A"
To
Quitclaim Deed
REAL PROPERTY DESCRIPTION
Resolution No. 2003—RO518
1533 East 34th Street
Lubbock, Texas
Legal Description: The West 241.08 feet of Block Eight (8), CarroU's Resubdivision to the City of
Lubbock, Lubbock County, Texas, save and except approximately 0.10 acres thereof, heretofore
conveyed to the Fort Worth and Denver Railway Company for right-of-way, address of 1533 E. 34th
street.
031TBSaleRE.doc 17
QUITCLAIM DEED
STATE OF TEXAS g
COUNTY OF LUBBOCK g
The City of Lubbock, a Texas Home Rule Municipal Corporation (the "Grantor"), for and in
consideration of the sum of TEN AND NO/100 DOLLARS ($10.00) and other good and valuable
consideration, the receipt and sufficiency of which is herein acknowledged, subject to the reservation
below, has QUITCLAIMED, and by this instrument does QUITCLAIM to BUY THE FOOT LLC ("Grantee"), all
of its right, title, and interest in and to that certain real estate (the "Property"), lying and being
situated in Lubbock County, Texas, being described on Exhibit "A" attached hereto.
Grantor, for itself, its successors and assigns, and for the use and benefit of the public, herein
reserves a perpetual and permanent easement and right -of- way, together with the right of ingress and
egress, for the purposes of installation, construction, operation, reparation, reconstruction, and
maintenance of water, sewer, cable, telephone, power, gas, electricity, and any and all other utility
structures and facilities, of any kind or nature, over, under, on and across that portion of the Property,
being thirty feet (30') in width, located along the (i) east; (ii) northeast; and (iii) north, boundaries of
the Property.
Grantee has made an independent inspection and evaluation of the Property and the title to
same and acknowledges that Grantor has made no statements or representations concerning the
present or future value of the Property, the state of the title to the Property, the condition, including
the environmental condition of the Property, or the anticipated income, costs, or profits, if any, to be
derived from the Property. FURTHER, GRANTOR MAKES NO REPRESENTATION OR WARRANTY
WHATSOEVER, EXPRESSED, STATUTORY, OR IMPLIED, INCLUDING, BUT WITHOUT LIMITATION, AS TO THE
DESCRIPTION, TITLE, INCLUDING, WITHOUT LIMITATION, TO THE EXISTENCE OF LIENS AGAINST THE
PROPERTY, THE VALUE, QUALITY, PHYSICAL AND ENVIRONMENTAL CONDITION OF THE PROPERTY
AND/OR MATERIALS CONTAINED OR LOCATED IN, ON OR UNDER THE PROPERTY AND/OR IMPROVEMENTS
031TBSa1eRE.doc
LOCATED THEREON, THE NATURE OF THE PAST OR HISTORIC USE OF THE PROPERTY, MERCHANTABILITY,
OR FITNESS FOR PURPOSE OF ANY OF THE PROPERTY. Grantee further acknowledges that he/she/it has
relied solely upon his/her/its independent evaluation and examination of the Property and public
records relating to the Property and the independent estimates, computations, evaluations and studies
based thereon. Grantor makes no warranty or representation as to the accuracy, completeness or
usefulness of any information furnished to Grantee, if any, whether furnished by Grantor or any other
third party. Grantor, its officers, employees, elected officials and agents assume no liability for the
accuracy, completeness or usefulness of the material furnished by the Grantor, or any of its officers,
employees, elected officials and/or agents, if any, and/or any other third party. Reliance on any
material so furnished shall not give rise to any cause, claim or action against Grantor, its officers,
employees, elected officials and/or agents, and any such reliance shall be at Grantee's sole risk.
THE QUITCLAIM OF THE PROPERTY IS ON A "WHERE IS", "AS IS" AND "WITH ALL FAULTS" BASIS,
AND IS WITHOUT REPRESENTATION OR WARRANTY WHATSOEVER, EXPRESSED, STATUTORY OR IMPLIED,
INCLUDING, WITHOUT LIMITATION, AS TO TITLE, INCLUDING, BUT NOT LIMITED TO THE EXISTENCE OF
LIENS AGAINST THE PROPERTY, THE DESCRIPTION, PHYSICAL AND ENVIRONMENTAL CONDITION OF THE
PROPERTY AND/OR MATERIALS CONTAINED OR LOCATED IN, ON OR UNDER THE PROPERTY AND/OR
IMPROVEMENTS LOCATED THEREON, THE NATURE OF THE PAST OR HISTORIC USE OF THE PROPERTY,
QUALITY, VALUE, FITNESS FOR PURPOSE, MERCHANTABILITY, OR OTHERWISE.
TO HAVE AND TO HOLD all of the right, title and interest in and to these premises, together
with all and singular the rights, privileges, and appurtenances to the premises in any manner belonging
to the Grantee, his/herlits heirs and assigns forever, so that neither the Grantor, nor any of the
Grantor's legal representatives, nor any persons claiming under the Grantor shall any time in the future
have, claim, or demand any right or title to the property described above.
031MaleRE_doc
Executed this 17th day of Navember
GRANTOR:
CITY OF Ll
MCDOUGAL, JVAYOR
ATTEST:
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Rebecca Garza, City Secretary
APPROVED AS TO CONTENT:
Ed Bucy, Right-of-Waf Agent
APPROVED AS TO FORM:
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Richard K. Casner
First Assistant City Attorney
STATE OF TEXAS
COUNTY OF LUBBOCK §
This instrument was acknowledged before me on _N',Xg=. r 1R_�, by MARC MCDOUGAL,
Mayor of the City of Lubbock, Lubbock County, Texas.
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CELiA WEBS
StO Of TOM
y No"CommWPuftw Eon
• 0"i-M
Nota Public in and for the State of Texas
My Commission Expires: 03 -01-12-,00&
03lTBSaleRE.doc
GRANTEE:
BUY E FO L
Howar G. If, Mem er and Manager
STATE OF TEXAS §
COUNTY OF LUBBOCK S
This instrument was acknowledged before me on I WA, Le/ IS, .20 403 , by Howard G. Thrash
II, Member and Manager, Buy the Foot LLC.
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?.,.,��•^k Na, LINDA B. HART Notary bUc in and for the State of Texas
Notary FuWic. Stets of TgXM
Nty COmmes,ar, Expires
3Q. 2007 My Commission Expires:
031TBSateRE_doc
EXHIBIT "A"
TO
Quitclaim Deed
REAL PROPERTY DESCRIPTION
1533 East 340 Street
Lubbock, Texas
Legal Description. The West 241.08 feet of Btock Eight (8), Carroll's Resubdivision to the City of
Lubbock, Lubbock County, Texas, save and except approximately 0.10 acres thereof, heretofore
conveyed to the Fort Worth and Denver Railway Company for right-of-way, address of 1533 E. 34th
street.
031TBSaleRE.doc