HomeMy WebLinkAboutResolution - 6583 - Surrender Of Leasehold - Lubbock Industrial Foundation Inc - 10_28_1999Resolution No.6583
Oct. 28. 1999
Item No. 20
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 Surrender of Leasehold,
attached herewith, by and between the City of Lubbock and Lubbock Industrial
Foundation, Inc., and any associated documents, which Surrender of Leasehold 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 full copied herein in detail.
Passed by the City Council this 28tb day of October '1999.
WINDY SlItON, MAYOR
ATTEST:
�R�u 844u�
Ka a Damell, City Secretary
APPROVED AS TO CONTENT:
Richard Burdine, Assistant C1ty anager
APPROVED AS TO FORM:
Dzfnald G
Attorney
Ddres/Leas-sur. res. doc
October 11, 1999
Resolution No.6583
Oct. 28. 1999
Item No. 20
SURRENDER OF LEASEHOLD
THE STATE OF TEXAS
COUNTY OF LUBBOCK §
THIS AGREEMENT is entered into between the City of Lubbock, a Texas Municipal
Corporation, ("Landlord") and Lubbock Industrial Foundation, a Texas not for profit
corporation, ("Tenant").
Recitals
1) Landlord and Tenant executed a lease (the "Lease") on June 13, 1968, which was
recorded in Volume 1176, page 587 of the deed records, Lubbock County, Texas, by the terms of
the lease, the premises described therein were leased to Tenant for a term of 50 years, beginning
on July 1, 1968, and ending on July 1, 2018.
2) Tenant wishes to surrender the Lease and all rights to possession of the leased
premises, and to release Landlord from its obligations under the Lease.
3) Landlord wishes to accept the surrender and all rights to possession of the leased
premises and to release Tenant from its obligations under the Lease.
THE PARTIES HERETO AGREE AS FOLLOWS:
In consideration of the mutual promises contained in this Agreement and in consideration
of Tenant's paying Landlord $5.00, and in consideration of other good and valuable
consideration, Tenant will surrender the Lease and vacate the premises described in the Lease a
copy of which is attached hereto as Exhibit A, before January 1, 2000, and Landlord will accept
the surrender and the premises. Landlord and Tenant will mutually discharge and release each
other from all obligations under the Lease as of that date.
Executed at Lubbock, Texas, on October 28 , 1999.
LUBBOCK INDUSTRIAL FOUNDATION
By:
Title
CITY OF LUBBOCK:
WINDY SIT ON, MAYOR
ATT ST:
Ka 'e Darnell, City Secret 'y
APPROVED AS TO CONTENT:
'chard Burdinj, Assistant City Manager
APPROVED AS TO FORM:
�dG. r, irst Assist nt Ci y
Attorney
ACKNOWLEDGMENT
THE STATE OF TEXAS §
COUNTY OF LUBBOCK §
> i ent is ackn wledged before me on (,�o0e.r j 2-.. 1999, by
_ W by��
�,ffw�•, RICHARD N. BURDINE17'e. h
te n. n,' dL==n"
a� + '� = °�` �'�"�'A7E 0F1O� Notary Public in and for the State of Texas
My coMMISSION EXPIRES
My commissi Expires
ACKNOWLEDGEMENT
THE STATE OF TEXAS §
COUNTY OF LUBBOCK §
This instrument was acknowledged before me on , 1999, by
My commission expires:
Ddcon/sur-leas.doc
October 6, 1999
%a
Notary Public in and for the State of Texas
` 1
THE STATE
OF TEXAS )
LEASE AND SALES OPTION CONTRACT
COUN'ry OF
LUBBOCK
THIS CONTRACT is made and entered into by and between
the. City of Lubbock, a Municipal Corporation, acting herein pitr-
suant to an appropriate resolution of the City Coulio.11. of 01e
City of Lubbock, Texas, hereinafter called "Owner", anti Lubbock
Industrial
foundation, a 'texas non-profit corporation, with its
principal
place of business at Lubbock,. Texas, hereinafter c.r,.l:1_ecl
"Lessee".
W i T N E S S E T H:
Otmer leases and lets to Lessee, Who. ltcre1)y
for a term
of fifty (50) years. beginning July 1., 1968, it)d
subject to
the terms. and conditions hereinafter set:, aril_ , the.
..following
lands .situated in Lubbock County., Texts,
Tract One:
All of that portion of Section 41, Block A, Lubbock
County, Texas, which portion lies North of.. the Pan-
handle and Santa Fe Railroad right-of-way, save and
except a 4 acre tract out of the Southwest corner
thereof (418 feet E-W by 421 feet N-S) , said 4 :tcry
tract being more fully described in a conveyance to
V. A. Johnston dated November 16, 1965, and .recorded
..in Vol. 1062, Page 151, of the need Records of
Lubbock County, Texas, said 'Pratt One being a1.1. or
the land owned by the City..of Lubbock in Section /0 .
Tract Two:
All of that portion of Section 5, Block A,. Lubbock .
County, Texas, which portion lies North of thc
..handle and Santa Fe Railroad right-of-way and Fist
of a tract of land heretofore conveyed by the, Git",
of Lubbock to Litton Industries, said tract hetret o-
fore conveyed to Litton Industries b(_In, stone f't,l1y
described in an instrument dated Mareb 24, 1961! , .Isle.
recorded in Vol. 991, page 103, of the Deed. Recov(!F.
of Lubbock.County; Texas.
Tract Three: All of , that portion of Section 50 Block A, 1a111tb0c•1,
County, : Texas, which portion lies South of the 11a11-
handle and.. Santa tre Railroad. right -of -way and North
of Loop 289 right-of-way and .East of a tract of 1_�anc1 ..
heretofore conveyed by the City of Lubbock to the
State of Texas, said tract heretofore conveyed to the
State of Texas being more fully described. in an instru-
menu dated.July 27, 1061, and recorded.in Vol. 856,
Page 1, : of the Heed Records of Lubbric%' County, Texas..
Said Traets Two and Three being all of the land owned
by the '.City of Lubbock in Section 5.
U1
SAVE AND FXCEPt . al minerals. and underground water.
r
For and in consideration of this lease and the rights
�
r
herein granted to the Lessee, the Lessee agrees to pay the owner,
E ''
at Lubbock, Texas, a yearly rent in an amount equal to whichever
is larger of the following calculations«
CJ1
(1) The sum of $1,000.004 or
(2} An amount equal to all the agricultural income
received by Lessee in the lease year ending as of
the due date for each succeeding installment.
II.
The consideration and rental to be pafd hereunder shnII
be due and payable in annual installments, the first such install-
'
ment due and payable on the Ist day of July, 1969, and the like
installment on or before the lst day of July of each succeeding
year thereafter. In the event that the purchase option herein
granted is exercised in whole or in part, then the annual yearly
rent here provided shall be reduced as of the date of the exercise
of such option in an amount which bears the same percentage to the
total yearly rent originallyprovided herein as the number of acres
of land upon which the option to purchase is exercised bears to
the total number of acres originally covered by this lease,
Should there at any time be any default in the payment
of the rent here provided for, and should said default continue
for a period of sixty (Go) days after written notice thereof i_s
given to the Lessee, then it shall be Lawful_ for the ovrncr to
declare this contract cancelled and terminated as to the land for
which the purchase option has not then been exercised, and to re-
enter said premises and remove all persons therefrom without pre-
judice to any legal remedies which may be used for the collection
of rent. It is expressly.understood and agreed that this termina-
tion provision shall have no effect on any land, or the title
thereto, upon which the option to purchase has been exercised prior
to the effective date of termination....
r
IV
At the expiration of this lease, the Lessee agrees to
release all of its rights in so much of the property its is cove1-c,,.]
by this lease which at that time .has not been purelvase.d by .. ti1C
Lessee.or those holding under. Lessee,
" Lessee may sub -Iet..the premises. or any part.thereof..for.
agricultural purposes without permission.from.Uwner:
Vl,:
The Lessee may plat, -subdivide, develop, and improve
said property or any:part thereof for industrial purposes and
related business uses, and may subject.all or any part.of the pro-
perty..to valid liens.
VII.
:.'Phis lease ,and'option to buy is subject t:n the rigb or
ingress and egress .of.the. City Of Lubbock., to opel ri'tE! miint.ain'
and/or reconstruct any portion . or all . of its water ..s !p1)1.y faC1..1. iE
(including but not limited to electric supply:: lines) in -'and tipoll.
that portion of said:land identffied'in Paragraph X (r)(1).
The City. expressly. having reserved the rights herein
above mentioned relative to ingress and egress in the operation;.:
maintenance, and reconstruction.of.its water supply.facilities,
Lessee agrees. that. during the period of this: lease,` it expressly., , .
releases, . disclaims, and shall have, no clait€r'. of any: kind by
virtue of such non -negligent appropriate acts of the City duri.ni; .
the period of the lease upon those portions -of of said. land .that,:
are -subjected: herein to . such rights .of .ingress and . egress . Any,
such rights of ingress and egress reserved by the City sha11.1)e'.
and are hereby expressly limited to those rights of ingress and
egress as they are. mare fully described herein below in Paragraph::
X (E) :.(1).
VIII.
The premises are leased and .let for`agri.cultural pur-
i
poses, and what6ver U.S. Agriculture Department: allotments accru-ing
to .th#.s land r+e r ss3.g ad tc the 1> nd gnd s�hali:.be mailable
to the Lessee]`.id d: 'however, that iirl the event .the Lessee
exercises its:optidil to purchase any dr. all of said land and such
r
land ceases to be used for agricultural purposes, the City shall be"
M
entitled to retain such allotments for assignment:to any part of
ig
its land which may be subject.to agricultural uses.
C.; I°
It. is expressly understood and agreed that any U.S.
Agriculture Department payments which are made for.any purpose:
or reason. pertaining to land herein leased and are received by the
City shall be.credited upon the rent herein provided.
,.
IX,
'
In the event the Lubbock Industrial Foundation, or its
assigns or successors, should..be dissolved and terminated as
a,
community oriented non-profit entity dedicated.to. -the goal':.of
promoting industry for the benefit of the. City of Lubbock. _then
any..and ..aII portions. of. the. said land which previously have not
been purchased under this agreement shall revert automatically to
the.City.
X6
It is expressly.understood and hereby stipulated
that this lease agreement with the option to purchase as herein-
after set forth is and has been entered into -for the.primary pur-
pose..of inducing the location of manufacturing, industrial., and
business establishments, Further, such undertaking is part of.
A
the consideration for this agreement; : and further, in considers- '
tion .of the obligation here undertaken by the Lessee and the sum
of One .Hundred Dollars ($100.00).. to Owner .in hind paid _by,:..the
Lessee, the..receipt and sufficiency of :which is hereby acknowledged
and confessed,. the Owner agrees,.binds, and obligates itself, its
successors and assigns, to give said Lessee, and does hereby give
said Lessee, the option to purchase the herein described property
'i
or any part thereof. This option to purchase by Lessee, is exercis-
able by the giving to the Owner notice in .writing addressed to the_z
Mayor of the City. of:Lubbock of the exercise..of the option to
+s
purchase hereunder.Lessee is given the.right to exercise its
option: ire part :.upon one or. more occasions .at .t:he:election: (.`Lessee..
and.: upon. the exercise - bf Buch -,. #tin, this cants c :sha11 become
binding upon .both parties', . as :a contrsct 'of sale, upon..tiie i'o1 l oaf-
i.ng termsand conditions
(A) owner agrees to sell and convey and the Le7see
agrees to buy, upon the .terms and conditions herein.'.
stated,: the lands herei,nabove: described or that part
or portion set out in the notice. of exercise of the
option, but excepting therefrom the. present water. wells
and well sites::which::.shall be in .tracts: of forty .feet
by forty feet (4a' x 40') when such .well sites. are.
located . adjacent to :.g public right. -of -way. or. ecise-
meat,:.but when .such:welI sites are:located at the
end of a line and are not ddJacent to a publ c: t
of -way or easement, then such tracts :s1 all be s:iXty.
:.feet by aixty.:.feet (60' x. 60The dimetigimis prc}.
.:.vided for in this::Taragraph. (A) shall. rurl i.t�st_. St::
and North -. South .unless otherwise mutua1l.y .,Igr. red to.
in waiting by:the parties hereto.
id (H) The consideration of the sale is Four Hundred
Ninety -Five. dollars >:($4.95 00) per _acre, to be paid
by the lessee to: the Gotmer: in:cash or such consideration
to.. be. pgid , upori siich other terms as the parties hereto
.:.May mutually . agree.: The consideration for. the. sale of
the entire..tract'may be Calculated from the Owner's
Id_ .. .
survey now ..exis.ting or `.frmn a survey . ho-rcinafter to be
trade. The . Lessee is Privileged,'. at its .expense, . to
:cause asurvey=to be made,,.of the. preaises, showing the
,
exact acreage covered by the." ontract herein.
(C) Upon exercise`of.the option.by Lessee, Owner .binds.
itself to convey by Spcisl Warranty Deed, such land as
may be": des6: 'ibecl in the ranting notifying Owner. of
.exercise of Lessees option.
Cr: 1{
(b) Upon any tract .of. ..and which .is: purchased by Lessee,
•
pursuant td: t� ° pttrchas 'c�ptiori grafited herein,. and
'whioh is atibgequiatitly sold or leased `by Lessee, Lessee
shall provide In the contrast of sale or lease with and
in any deed to any sub®equent lessor and/or purchaser
�}
J)
for the construction of a building or facility.thereon
within a reasonable time, such time and the adequacy of
i�
the building or facility to be determined by the Lessee
(LubbockIndustrial ndustrial Foundation). ' if such building or.
facility is not substantially constructed.within.the
alloted time, then the title to the tract of land in
question may be recovered by the Lessee. Such restric-
tion.. shall. also —provide that should any subsequent. lessee
and/or purchaser acquire. land hereunder, any portion of
which is thereafter offered for sale:by the. lessee/
purchaser, such offer shall constitute a`declaration
that such land is. in excess of the lessee/purchaser's
needs; thereupon such lessee/.purchaser.shall reconvey
that portion of land determined. to be excess to the
Lessee.at the same price such lessee/purchaser paid the.
Lessee initially. This. restric tion upon. sale by Lessee
shall be to the end of avoiding speculation on resale
..by. any subsequent lessee/purchaser.
(E) The conveyance shall be subject to the following
-expressed reservations to be made and set forth in the.
conveyance:
(1) The.City shall reserve the right of ingress
and egress` to operate, rnaintain, and/or reconstruct
any portion or all of its water supply facilities;
including, but not limited to the.electric supply
:lines..along the easements located as herein provided.
Said _easements `shall be.perpetual and shall be 60
feet in width,`being SD. feet on each side of: the
cent er..of the presently existing underground hater
pipe lines: running to and from the existing water
wells on said property. Pt rau.i.ci� c.l th"It ,, i11F
future platting of the. land here. uticlej G nrltract
,
to the extent that..is practicable to cto so,
Public streets and alleys shall be laid out so
as to be situated in an area common to the ease-
ments.. provided in this paragraph; but...the. Lessee,
and those balding under 'Lessee, shall be the sale
,fudge. as to the practicability of doing so. In.no
event shall there be more. than one 50 foot wide
easement to any one water well site, Within ninety
(90) days from the date of the final execution of
this agreement,` Owner shall furnish to Lessee <�
plat showing the location upon the ground of al]
of the easements provided in this poro..grtzl}i,, ar,ci
thereafter no easement shaII exist i n
unless the .same is shotm. oil said f-
(2) Uwner shall reserve unto: itself .in ice 5 i,,,1;1 e
all of the underground watei: oil, F:,,ts, .111d. ot_iIF,r
minerals in .and under and that may be produces.( from
said -land, Oil, gas and mineral ,operas✓ ions, i.tic l t►d --
ing but not limited to exploration for; produci,1(.-)n,
transporation, storage, and marketing thereof, sha'...1
be conducted in such.a manner and at such. locations
so' as ' to avoid . unreasonable. interference with tho
operation and/or development of the use Of s�tici
property for industrial purposes.
(3) The Owner anticipates that ,there may :he a
necessity to use,g part `or parcels of the land in
eluded in this agreement for public municipal
pUrposes and Owner shall within sixty (60) days`
after the submission`:of a plat by Lessee, sub-
r-
mit to Lessee proposed locations and dimensions
for such parcels, aft: er whichOwner and.Lessee
sha11 agree in writing as to such :locations: and
ni
dimensions. <. In 'the form a g restricted covenant
`
rutjning: w th the ar�d Less .shall require `
.any:
:..
future irdus.trial: purchas er' to :refrain from any::
getivity upon said land wkich'.Wotil.d result in pol-
lution of: .the undergrouud water.'
:
(4) in addition to the other easements hereinabove
CJt
C�
:.
described,:Owner.reserves.`an:aviation .easement at:
a height.: he eir after spec3.fied, ever alb the land.
and shal include, but not: be limited to,. the
waiver of:any and all damn es caused by noise,
vibration, .dust, smoke, fumes, .or. other damages
arising out of or by virtue .of . ..the flight .within
the air.:.easement of: aircraft landing and talcing
off.from the.Luhbock Municipal Airport as presently
existing or as may be:hereafter expanded, by whom-.
soever� oxmed and.'operated in, through and across .
thd.'air- easement above .'the. lands: herein. conveyed
and/cir h' rikorital. adjacent to said air e s.ement»
it: is: anticipated that future facilities of.the
Lubbock Municipal.Airport, including certain.run-:
ways,;: must'.be..located ad Jae 'ent;tc the land . described
herein. Wherefore, maXimum:.height for construction
of improvements upon such land is' limited to fifty
(50) feet above the:ground level until.such_time
im
as 'the Federal Aviation: Agency 'shall establish re-
r - `
gulation.s an or. standards- .for.. such: land.; or a por-
Lion therecif' Upon the establishment.of such .
regulations and/ar;standards.they will, control the
height. fa ::construction of improvements, but. re+
:.
strictions..shall'not extend closer to.the.ground.
than fifty : feet:.(5o.') . Whe purchaser shah refrain
from.., any .use df .this land which would result in
electronic.:interference with.aircra£t navigation or
comnuri:L66t ons: and from any maintenance o:f external
lighting iwhich:might interfere raith flights
from the ;.Lubbock =Municipal Airpr�rt.
(5) i3pon any tract of l_and which is }�r�rc 1,t). c s iiti
Lessee, . pursuant to the purchase 'option t;r��nt c cl
herein, and which ` is. subsequently ` sold or l ca ,c t}
.by Lessee, Lessee; shall providein the contr,nc:t of
sale or lease with and in any deed to any subsequent-
lessor and./or purchaser for the:,construction of a
building or facility :the within a. reasonable
time, such time and the adequacy of the building or
facility to be determined. by the Lessee (Lubbock
Industrial Foundation). if such building or facility
isnot substantially constructed' wit}iin: tine aJ l.oted
time then the title thereto for the tr-act of ` ,mid i ii
question may be recovered by tho Lesscc
restriction shal l also prove de t;.hnt ,dmit I d :.,n
sequent lessee` and/orptrrchoser crta-el:,1i(1 l,r i
under, any portion' of which j�. tj,(.r-ps; f f
s�3ie by the purchaser, such offer 1 1 r1„•1t i i Tit r.
a `declaration that such land i.s c, c,���; fors t1le t,u."
chaser s use; : thereupon. such 1 essee/purc},nse) ;},:►1 1
reconvey that:portion of land determined to 1)r r�;;c r ":
to the Lessee at the same price that such lessee/
purchaser paid.the.Lessee initially. This restr.i.c—
Lion upon sale by Lessee skis11 be to the' end of
avoiding speculation on resale by any subsequent
lessee/purchaser,
(6) iessee e/purchaser shall
be required ' to abide by all -regulations..as are
contained in the CODE OF ORDMMCES OF THE CITY' OF
LUBBOCK, TWS and with respect: to the.utility
services. ;furnished. by, the City. of Lubbock, said
services used `in this area.shall. be. limited to City
r .
of..Lubbock facilities, and utilities duly franchisee)
w
by the City of Lubbock to. operate within. -the City of
Cj1
Lubbock. This restriction shall apply from the
J
and ptio�t tl hid gre+smetit though the l tnits
the City, C7 L1�bbClt. t1r� rir�t g� .yet itlouce :the.
prop rty:here. de oribOd
{1* Upon..the execution of this "agreement the ,Owner agrees
to deliver or cause to. be. delivered .to the Lesseean..
abstract .of title covering. the af�ave.-described. premises,
showing marketable title in:the City of. Lubbock,subject
only to.: thdeasements .reservations,` and mineral interests . .
herein desaritied;.ar at its:;.option Dwner may.. provide ..a.
title insurance policy. an the above. -described. premises.
The: Lessee shall have:'fifteen (15) days after receipt of
. such abstract r,�ithin:which .. o e t nine. same and . pr.esent
objections; if :any;. in: writing :The Owner agrees :to: cure
Valid. objections and to deliver` ttie _premises .by Special
Warranty . Deed as hereinabove. provided.: in the. event the
City: does not.. cure.. such objections as may be made by
Lessee, the `Lessee reserves : the right:. to waive such
objections.'and accept.'ritle by notifying owner by
written acceptance: of ; such ...title addressed to ::. the
Mayor of the City of Lubbock, who,. upon receipt of such
"
notice.-: of. acceptance of title; shall: cause to be execut-
ed vn:its:-behalf such .Special Warranty:Deed as herein.
provided acid upon payment of the agreed consideration
cause same to:be delivered..:
IN TESTIMONY WHE[ihese presents..have.:been.`execut`ed
`
by.. th e d authorized officers of each . art on this tire`
�'..:.: p y
.::
:
day; of , 1968.
` THt MY OF OCK TEXAS
ATTEST: .:A . MUNICIPAL::. C'. TION
>-
aY.,
Rogers, J
, 22ayo
City Secretary Treasurer
s,"
0 W N D.:R ::
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