HomeMy WebLinkAboutResolution - 2016-R0268 - Contract For The Sale Of Real Property - Tri-Star Investments - 08_11_2016Resolution No. 2016-RO268
(Item No. 4.11
lAugust 11, 2016
RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the Mayor of the City of Lubbock is hereby authorized and directed to execute for and on
behalf of the City of Lubbock, a Contract For The Sale Of Real Property and a Special Warranty
Deed, by and between the City of Lubbock and Tri-Star Investments, of Lubbock, Texas, and
related documents. Said Contract and Deed are attached hereto and incorporated in this
resolution as if fully set forth herein and shall be included in the minutes of the City Council.
Passed by the City Council on August 11, 2016
DANIEL M. POPE, MAYOR
ATTEST:
Re ecca Garza, City Secretary
APPROVED AS TO CONTENT:
Dave Booher, Right of Way Agent
'L. Wood "Fin, P. ., Director of Public Works
APPROVED AS TO FORM:
Attorney
ccdocs/R S, Co ract for the Sale of Real Property & Special Warranty Deed — Tri-State Investments
July 27, 24
Resolution No. 2016-RO268
CONTRACT FOR SALE OF REAL, PROPERTY AND
GRANT OF EASEMENT
THIS CONTRACT OF SALE is between Tri-Star Investments, a Texas general partnership, of P.O. Box 16738,
Lubbock, Lubbock County, Texas 79407 (the "Seller'), and the Cite- of Lubbock a Texas municipal corporation, of
P.O. Box 2000, Lubbock, Lubbock County, Texas 79457 (the "Buyer"), on the terms set forth in this Contract.
ARTICLE I PURCHASE AND SALE
Seller sells and agrees to convey, and Buyer purchases and agrees to pay for, the tract of land located in Lubbock
County, Texas, being further described by metes and bounds as set forth in Exhibit A attached to and incorporated in
this Contract by reference, together with i mprovements to the Land, and the personal properly also described in Exhibit
A (the "Property").
This sale and purchase include all rights and appurtenances pertaining to the property, including any right, title or
interest of Seller in adjacent streets, alleys or rights -of -way, together with any improvements, fixtures, and personal
property situated on and attached to the Property.
ARTICLE II SALES PRICE
1. Sales Price
The sales price for the Properly will be FOUR THOUSAND AND NO/100 DOLLARS ($4,000.00) intended to be
net to Seller, with Buyer to pay all costs of the closing other than curative matters, if any, other than the partial release
of the lien from Seller's existing Financing already disclosed to Buyer (the "Sales Price"). The Sales Price shall also
serve as consideration for the granting of a Sanitary Sewer and Access Easement across the property described in
Exhibit B, attached hereto and incorporated herein for all purposes (the "Easement").
2. Pavment of Sales Price
The Sales Price will be payable in cash at the closing.
ARTICLE III BUYER'S OBLIGATIONS
The Buyer's obligations under this Contract are subject to the Buyer's reasonable satisfaction that Seller will have
complied with all of the covenants. agreements, and conditions required by this Contract by the closing.
ARTICLE IN' REPRESENTATIONS AND WARRANTIES OF SELLER
Seller represents and warrants to Buyer, as of the closing date, as follows:
A. There are no parties in possession of any portion of the Properly as lessees, tenants at sufferance, or
trespassers;
B. There is no pending or threatened condemnation or similar proceeding or assessment affecting the
Property, or any part of it, nor to the best knowledge of Seller is any proceeding or assessment contemplated
by any governmental authority;
ARTICLE V CLOSING
The closing will be held at the office of Lubbock Abstract & Title Company, 1216 Texas Avenue, Lubbock, Texas,
79401 (the "Title Company"), on or before the closing, or at the time, date, and place agreed on by Seller and Buyer.
1. At the closiirg Seller will:
A. Deliver to Buyer a properly executed and acknowledged Special Warranty Deed conveying indefeasible
title in fee simple to all of the Property, free all liens, encumbrances, conditions, easements, assessments,
and restrictions; and
B. Deliver to Buyer a properly executed and acknowledged Partial Release of Lien for each lien that may be
attached to the Property at the time of the closing; and
C. Furnish to Buyer, at Buyer's expense, an owner's policy of title insurance (the "Title Policy') issued by
the Title Company in the amount ofthe Sales Price, dated at or after closing, covering the Property and the
Real Estate Sales Contract -- Tri-Star Investments to City of Lubbock Page t of 7
Easement insuring Buregyer against loss under the provisions of the Title Policy, subject to the
promulgated exclusions and the following exceptions:
i. Restrictive covenants common to the platted subdivision in which the Property is located;
ii. The standard printed exception for standby fees, taxes and assessments;
iii. Utility easements created by the deed or plat of the subdivision in which the Property is located:
iv. Reservations or exceptions permitted by this Contract or as may be approved by Buyer in writing;
v. The standard printed exception as to marital rights;
vi. The standard printed exception as to waters, tidelands, beaches, streams, and related matters;
vii. The standard printed exception as to discrepancies, conflicts, shortages in area or boundary lines,
encroachments or protrusions, or overlapping improvements; and
D. Deliver to Buyer the Easement in a standard type form reasonably acceptable to Seller and Buyer.
2. At the closing, the Brrt'er mill:
Deliver to Seller the cash payment of the sales price, including the costs of the following: Owner's Title Policy.
Mortgagee's Title Policy, Survey, Filing fees, Seller's Attorneys fees, and any costs incurred to obtain the Partial
Release of Lien from Seller's syndicated financing.
3. Commitment
Within twenty (20) days after the Title Company receives a copy of this Contract, Seller shall furnish to Buyer a
commitment for title insurance (the "Commitment") and, at Buyer's expense, legible copies of restrictive covenants
and documents evidencing exceptions in the Commitment (the "Exception Documents") other than the standard
printed exceptions. Seller authorizes the Title Company to deliver the Commitment and Exception Documents to
Buyer at Buyer's address. If the Commitment and Exception Documents are not delivered to Buyer within the specified
time, the time for delivery will be automatically extended up to fifteen (15) days or three (3) days before the Closing
Date, whichever is earlier. If: due to factors beyond Seller's control, the Commitment and Exception Documents are
not delivered within the time required, Buyer may terminate this contract and the earnest money will be refunded to
Buyer.
4. Objections
Buyer may object in writing to (i) defects, exceptions, or encumbrances to title: disclosed on the survey other than
those listed in this Contract. or disclosed in the Commitment other than items listed in this Contract; (ii) any portion
of the Property lying in a special flood hazard area as shown on the current Federal Emergency Management Agency
map. or (iii) any exceptions which prohibit the Buyer's free use of the Property. Buyer must object the earlier of (i)
the Closing Date, or (ii) within a reasonable time after Buyer receives the Commitment and Exception Documents.
Provided Seller is not obligated to incur any expense, Seller shall cure the timely objections of Buyer within ten (10)
days after Seller receives the objections, and the Closing Date will be extended as necessary. If objections are not
cured within such ten (10) day period or cannot be cured by Seller without incurring any expense and Seller is not
willing to incur such expense, this Contract will terminate unless Buyer waives the objections.
5. Taxes
General real estate taxes for the current year up to the time of the closing relating to the Property, interest on any
existing indebtedness, and rents, if any, will be prorated as of the closing date and will be the responsibility of the
Seller. If the closing occurs before the tax rate is fixed for the current year, the apportionment of taxes will be on the
basis of the tax rate for the preceding year applied to the latest assessed valuation. ,All special taxes or assessments to
the closing date will be paid by Seller.
ARTICLE N'1 NO BROKERS OR COMMISSIONS
There are no brokers who have been involved in the negotiation and consummation of this Contract. There are no
commissions conditioned on the closing of the sale contemplated by this Contract.
ARTICLE VIII BREACH BY SELLER
If Seller fails to fully and timely perform any of its obligations under this Contract or fails to consummate the sale of
the Property in breach of this Contract at a time when Buyer is in full compliance with the terms of this Contract, then
Real Estate SateS Contract — Tri-Star inve5trtlents to City of Lubbock
THE BUYER AND THE SELLER HERBY AFFIRM THE ABOVE -EXPRESSED PROMISES,
AND ON THISI 1th DAY OF Aw-ust , 2016, THE PARTIES ENTER INTO THIS CONTRACT.
FOR: CITY OF LuBROCK
Daniel M. Pope, avor
ATTEST:
Rebec la
Garza, City Secretary
APPROVED AS TO CONTENT:
Dave Booher, Right of Way,4ent
Wood
TO FORM:
/1711
Justin P itt, ssist nt Co Attorne
He Works
FOR: TRt STARINYESTMENTS
i
Van N�ess-i anagernent, LLC — General Partner
Betty Martin Van Ness - Manager
Wes ey Tolley — Gener Partner
Angela Anderson — General Partner
Real Estate Sales Contract — Tri-Star Investments to City of Lubbock Page 4 of 7
NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU
MAY REMOVE OR STRIKE ANY OF THE FOLLOWING INFORMATION FROM THIS
INSTRUMENT BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS:
YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER.
SPECIAL WARRANTY DEED
DATE: August 2016
GRANTOR: 1'ri-Star In%estments, a Texas General Partnership
GRANTOR'S MAILING ADDRESS:
P.O. ]lox 16738
Lubbock, Lubbock CountN. '[ exas 79407
GRANTEE: CitN of Lubbock, Texas, a Texas Municipal Corporation
GRANTEE'S MAILING ADDRESS:
P.0. Box 2000
Lubbock. Lubhock County. Tcxas 79457
CONSIDERATION:
Four Thousand and nor100 Dollars ($4,000.00) and other good and valuable consideration.
PROPERTY (including any improvements):
All of that certain tract of land, located in Lubbock County, Texas. beine further described by metes and
hounds as set birth in " F?Nhibit A." attached hereto. together with improvements to the Land. and the
Personal prupert' also described in'Txhihit A."
RESERVATIONS FROM CONVEYANCE:
None
EXCEPTIONS TO CONVEYANCE AND WARRANTY:
l . All easements, rights-of=++ay and prescriptive rights, whether of record or not. pertaining to any
portions) of the property:
?. All presently recorded and +alid oil. gas and/or other mineral exceptions. rights of de+elopment
or leases, ro+alty rescr+ations and/or other instruments constituting oil- <,as or other mineral
interest se+erance of'anv kind:
3. All present[% recorded restricti+c covenants, terms. conditions. contracts. provisions. zoning
Ordinances and other items. but onl+ to the extent that same are still in effect:
4. All presently recorded instruments (other than encumbrances and comevances b+. througli or
under (irantor) that afieet the propert:
5. Standh+ lees and taxes for the current y ear and subsequent y cars. the pa% meet of ++high Grantee
assumes: and subsequent assessments ti)r this and prior y ears due to change in land usage.
o++nership or both. the payment of++hich Grantce assumes;
6. An+ conditions that Mould he rc+calcd b+ physical inspection and survey of the property.
7. The property is ca:rveycd "AS IS", "WI IFRL IS". and "WITH AI.1. CPS FAULTS". and without
any representations. +varrantics. or cmenants by grantor of an. kind Mhatsoc+er, expressed or
implied, as to quality, condition or fitness. sa+c and except representations as to title contained
in this ,encral N%arrant+ deed.
Special IN arrantr Deed —'Fri-Star Investments to City of Luhhock I I
SPECIAL WARRANTY:
Grantor. fir the Consideration and subject to the Reser\ations from Con%e,-ance and the Exceptions to
Comevance and 1k'arrant%. grants. sells. and coneys to Grantee the Propene. together with all and sinnular
the rights and appurtenances thereto in an% x,,aN belonging. to haNc and to hold it to Grantee and Grantee's
heirs. Successors. and assigns lorc%cr. Grantor hinds Grantor and Grantors heirs and successors to warrant
and lore1 cr dcicnd all and Singular the I'ropert\ to 0-antee and Grantee's heirs. successors. and assigns
against e\erx person %+homsoexcr la%N Fulk claiming or to claim the same or am part thereof %Then the
claim is bN. through or under Grantor but not othcn%ise. except as to Reservations from Come%ance and
the Exceptions to Con ev ante and 1V'arranty .
Mien the context requiree. singular nouns uml pronouns include the plural.
FOR: Titl STAR IxvFs,rN .\'r5
Van Ness Management, LLC — General Partner
Betty Martin Van Ness - Manager
Wesley Tolley — General Partner
Angela Anderson — General Partner
Special Warranh Deed — Tri-Star Investments to CRY of Lubbock 12
?►CKNOWLEDCNIENTS
FOR TRI-ST?►R INVESTNIENTS
STATE OFTEAAS ti
COt NTY OI: Lt JBBOCK
This instrument was acknowledged belove nee cm this daN of 20_. b1
Notun Public. State of Texas
commission expires:
STATE, OF ti
COUNTY OF LUBBOCK
'['his instrument was acknowledged beliue me (in this da% of . 20 . hN
Notan Public. Statc of "Texas
N1} commission expires: _
STATE OF TEXAS
COUNTY OF LUBBOCK 1
']'his instrument was acknouledgcd before me on this day of . 20 . b%
\otan Public. State of -Texas
NIN Commission expires:
Special Warranh Deed —Tri-Star Investments to City of t.uhhock 13
E N G I N E E R I N G
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EXHIBIT "A"
FIELD NOTES FOR A 1200 SQUARE FOOT TRACT FOR A CITY OF
LUBBOCK LIFT STATION SITE OUT OF CAMELOT ADDITION, LOT 1,
AN ADDTION TO THE CITY OF LUBBOCK RECORDED IN VOL 1210
PAGE 123, THE DEED RECORDS OF LUBBOCK COUNTY, TEXAS AND
:ADJACENT TO THE NVEST LINE OF SAID LOT 1AND BEING MORE
PARTICULARLY DESCRIBED AS FOLLOWS.
Be-uinnin-u for Paint of Reference at a '-" rod W cap fo L;IId at the rtorthwest corner of said
Camelot Addition. Lot 1. thence with the %pest line of Said Lot 1. S Ol 49'52" '4'4' a distance of
?�.94' -with tic west propert} line of said Lot 1 to the Ilorthwest comer and the Be-llllllil, Point
Of this 1200 Square feet tract at a rod « cap 1 S7l (R2%1 ) set:
Thence. S 01'49'5?" W a distance of 30.00' with the west line of said Lot 1 to an "\" set on
concrete tni• the S011tll[We5t confer of this tract:
1-hence S SS"OW03" E a distance of 40.O0' to an "N" set in concrete:
Thence \ 01 = 49"52" E a distance of 30.00' to an "X" Set in concrete:
lllencc N 88'09'03" 'v'4' a distance of 40.00' to the Be-Innln<ct Point havin�?'Lill area of 1200
square feet or 0.028 act'eS.
l hese licld notes are based on a field Sun e} on the ground on January 28.
-1016 and cxistitl" public records prepared under the SuPCI-ViSion of Jer_v] D.
lfart. Jr., R.P.L.S- M 1S?1.
............................
JERYL D. HART, JR.
1871
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