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HomeMy WebLinkAboutResolution - 061076D - Agreement - Bowman Lumber Co - University Ave - 06_10_1976JWFGl�/N& D -��`' ab t� RESOLUTION E IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the MAYOR of the City of Lubbock BE and is hereby authorize nd directed to execute for and on behalf of the City of Lubbock an Agreement etween the City of Lubbock and Bowman Lumber Company, Inc., covering xtension of time for payment of paving assessment in return for dedication f street right-of-way on University Avenue, attached herewith which shall e spread upon the minutes of the Council and as spread upon the minutes of As Council shall donstitute and be a part of this Resolution as if fully copied erein in detail. by the City Council this loth day of .dune , 1976. TTEST: i rev�ips, City ecre PPROVED AS TO FORM: r aS3 ROY BASS, MAYOR reasurer r, Jr. , Ci Attorney 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 27th day of May, 1976, by and between Bowman Lumber Company, Inc., acting by and through its undersigned officers hereunto duly authorized, herein called "OWNER", 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 effec- tive upon execution by both parties hereto. WITNESSETH: SECTION I. SUBJECT A,iATTER OF TRANSACTION The extension of time of payment of a paving assessment to be created by a City Paving Assessment Ordinance which is to be enacted by the City Council in the calendar year, 1976, and filed in the Deed Records -of Lubbock County, Texas. This assessment will be secured by a lien to pay the cost of paving University Avenue adjacent to the following described tract of land, to -wit: i TRACT I BEGINNING at a point which is 1465.78 feet South and 60.00 feet East of the Northwest corner of Section 9, Block E, Lubbock County, Texas; THENCE South along a line 60.00 -feet East and parallel to the West line of said Section 9, Block E, a distance of 1174.22 feet to a point; THENCE East 150.00 feet to a point; THENCE North along a line 210.00 feet East and parallel to the West line of said Section 9, Block E, a distance of 1174.22 feet to a point; THENCE West 150.00 feet to the POINT OF BEGINNING. It is understood and agreed that the paving cost deferred as to payment is the pp: -ring abutting Tract I above -described, beingfurther described as the paving being done on Tract II as hereinafter described, but contrariwise the paving to be done on Tract III hereinafter described is NOT herein deferred as to payment and will be assessed against property of the owner hereinafter described as Tract IV which abuts said Tract III to.be paid for in the terms usual in paving assessments without regard to the deferment of payment. For and in consideration of extension of time to pay off said lien to be assessed as above described and on the terms herein set forth, OWNER agrees immediately to execute and deliver to the City a Dedication Deed (on form sub- mitted to OWNER by City) dedicating tracts of land (hereinbelow designated as Tracts II and III) to the City and/or the Public for use as a public street (to form a part of University Avenue) covering the following described real estate: TRACT II BEGINNING at a point which is 1465.78 feet South of 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 1174. 22 feet to a point, THENCE East 60.00 feet to a point; THENCE North along a line 60.00 feet East and parallel to the West line of said Section 9, Block E, a distance of 1174. 22 feet to a point; THENCE West 60.00 feet to the POINT OF BEGINNING. TRACT III BEGINNING at a point which is 726.00 feet South of 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 739. 78 feet to a point; THENCE East 60.00 feet to a point; THENCE North along a line 60.00 feet East and parallel to the West line of said Section 9, Block E, a distance of 739. 78 feet to a point; THENCE West 60.00 feet to the POINT OF BEGINNING. If said Dedication Deed is not received by City within 30 days after date of this agreement in form suitable for public 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. The paving to be done on Tract III above -described is to be assessed at the regular rate and terms of payment as usual in regular assessment cases against the following described tract of land (owned by OWNER) which tract is adjacent to and abuts said Tract III, and is hereby designated as Tract IV and is described as follows: TRACT IV FIELD notes for BOWMAN LUMBER CO. Assessment Paving on East side of University Avenue. BEGINNING at a point which is 726.00 feet South and 60.00 feet East of the Northwest corner of Section 9, Block E, Lubbock County, Texas; THENCE South along a line 60.00 feet East and parallel to the West line of said Section 9,. Block E, a distance of 739. 78 feet to a point; THENCE East 150.00 feet to a point; -2- 40, THENCE North along a line 210. 00 feet East and parallel to the West line. of said Section 9, Block E a distance of 739. 78 feet to a point; THENCE West 150. 00 feet to the POINT OF BEGINNING. SECTION III. For and in consideration of the City of Lubbock paying for the construction of the paving on Tract II above -described adjacent and abutting Tract I above -described, OWNER, its successors and assigns, as bwner(s) of Tract I above -described, promise and do hereby by these presents promise to pay to the City the cost of such paving on Tract II to be assessed against owner on or before the end of the sixtieth (60th) month following the acceptance of the paving improvements by the City of Lubbock, or when owner,. or its successors and assigns plats for development under Article 974A, Vernon's Civil Statutes of Texas, all or any part of the real estate described as all the lands adjacent to the street to be dedicated and paved; or when owner, 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 afteracceptance of paving improvements by the City. SECTION IV.Should the herein above -described paving assessment lien to be created on said Tract I be paid in whole or. in part later than the sixtieth (60th) month following acceptance of the paving improvements on the said Tract II by the City of Lubbock, then the City shall charge and owner, its successors and assigns agree and obligate itself or themselves to pay six percent (6116) per annum-interest from and after the end of said sixtieth (60th) month on the principal amount due or so much thereof that remains unpaid until paid in full. SECTION V. City (to the extent possible) will endeavor to see that the OWNER has access to its business during actual paving being done with the understanding that the City is not responsible and/or liable. for the actions of the. paving contractors carrying out the construction or acts of God beyond control of the City which may interfere with access, such as but not limited toinclement weather. SECTION VI. OWNER, its successors and assigns, acknowledge the validity of the paving assessment lien to be created against said Tract I. such assessment lien to be enacted and recorded as aforesaid by City and further, OWNER agrees that the paving assessment lien on said Tract I and as described in said Ordinance to be enacted 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. ATTEST: BOWMEN LUMBER COMPANY, INC. BY: CORPORATION SECRETARY PRESIDENT (SEAL) -3- ATTEST: CITY OF LUBBOCK BY / Treva Phillips, C• y Secretary -Treasurer ROY IrASS, MAYOR APPROVED AS TO FORM: Fred O. Senter, Jr. , ity Attorney 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 President of Bowman Lumber 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 for the purposes and consideration therein expressed. and as the act and deed of Bowman Lumber Company, Inc., in the capacity hereinabove stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this day of 1976. (SEAL) Notary Public, Lubbock County, Texas -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 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 /Q' day of ,y 1976. ,.SEAL) < Notary Public; Lubbock County, Texas I� •