HomeMy WebLinkAboutResolution - 2010-R0335 - Reimbursement Agreement W/Bacon Crest, Ltd. CTC Real Estate And Western Title Co - 07/22/2010Resolution No. 2010-RO335
July 22, 2010
Item No. 5.14
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 Reimbursement
Agreement and all related documents with Bacon Crest, Ltd., CTC Real Estate and
Western Title Company regarding the drainage easement on a strip of land along 82nd
Street (formerly Spur 313). Said Agreement is 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 on July 22 , 2010.
01
TOM MARTIN, MAYOR
ATTEST:
Rebe -a Garza, City Secretary
APPROVED AS TO CONTENT:
Marsha Reed, P.E.
Chief Operating Officer
APPROVED AS TO FORM:
Linda L. Chamales,
Economic Development Attorney
City att Linda Res Reimbursement Agreement
July 8, 2010
Resolution No. 2010-R0335
REIMBURSEMENT AGREEMENT
This Agreement is entered by and between the City of Lubbock, Texas, a Texas home
rule municipal corporation, Bacon Crest, Ltd., a Texas Limited Partnership and CTC Real
Estate, L.P., a Texas Limited Partnership, (herein known as "Developers") and Western
Title, Inc., a Texas Corporation.
WHEREAS, in January, 1998 the City of Lubbock purchased the 35 foot strip of
land described in Exhibit A ("the strip") for purposes of a drainage easement; the strip
was subsequent 11 transferred to the State of Texas in August, 1998 in connection with the
widening of 82" Street from FM 1730 to U.S. 62/82 (Spur 313); and
WHEREAS, the Texas Transportation Commission in Minute Order 110415
removed State Highway Spur 313 from the state highway system from the intersection of
US 62 eastward to its terminus at the intersection of FM 1730 and returned it to the city
for control, jurisdiction and maintenance, but the State failed to deed the property back to
the City; and
WHEREAS, the Developers, unaware that the State had failed to deed the strip
back to the City, attempted to purchase the strip from the City; and
WHEREAS, the State, under its current statutory requirements cannot now deed
the property back to the City without a request from the City and an appraisal; and
WHEREAS, Developers have developed the land adjacent to the 35 foot strip and
have requested that the City acquire the strip from the State, at the Developers' expense
in order to clear the title and have agreed to grant a drainage easement back to the City;
NOW, THEREFORE, THE PARTIES AGREE AS FOLLOWS:
ARTICLE 1.
RECITALS AND EXHIBITS PART OF AGREEMENT
1.1 The representations, covenants and recitations set forth in the foregoing recitals
are material to the Agreement and are hereby incorporated into and made a part of
this Agreement as though they were fully set forth in this Article I. Exhibit A
attached hereto is incorporated in this Agreement as if fully set forth herein.
ARTICLE II
CITY RESPONSIBILITIES
2.1 Promptly following execution of this Agreement, City agrees to make a request to
the Texas Department of Transportation ("TxDOT") that the City be allowed to
purchase the property described in Exhibit A, attached hereto, which is currently
owned by the State of Texas as surplus land. Subject to Developers' payment of
the sums and performance of the obligations described in Sections 2.2, 3.1 and 3.2
of this Agreement, City will pursue its acquisition of the property in a diligent and
good faith manner and will execute such documents and instruments as TxDOT
reasonably may require for such purpose.
2.2 Upon approval from TxDOT, City agrees to obtain the funds from the Escrow
Account and purchase the property described in Exhibit A.
2.3 Promptly following City's purchase of the property, City will convey the property
to Developers (severally to each Developer as to that portion of the property
previously conveyed by City to such Developer and not jointly) by a Deed
Without Warranty. Each Deed Without Warranty will ratify the corresponding
prior conveyance, and also will ratify, affirm and re -state all prior reservations to
City of a drainage easement in, on, along, over, upon, under and across the
property, all as stated in the prior conveyances to Developers.
ARTICLE III
DEVELOPER RESPONSIBILITIES
3.1 Developers agree to provide an appraisal of the property described in Exhibit A in
a form acceptable to TxDOT for the purchase of the property.
3.2 Upon approval of this Agreement by the City Council, Developers agree to
deposit two-thirds of the appraised value of the property described in Exhibit A
into the Escrow Account described in Article V.
3.3 Developers agree to pay any other fees incurred by the City in the purchase of the
property described in Exhibit A.
ARTICLE IV
TITLE COMPANY RESPONSIBILITIES
4.1 Title Company agrees to pay one-third of the costs incurred by Developers under
this Agreement.
4.2 Upon approval of this Agreement by the City Council, Title Company agrees to
deposit one-third of the appraised value of the property described in Exhibit A
into the Escrow Account described in Article V.
ARTICLE V
ESCROW ACCOUNT
5.1 Developers and Title Company shall deposit the appraised value of the property
described in Exhibit A (as described in Sections 3.2 and 4.2) into an Escrow
Account (herein so called) with Mark Thompson, Baker Brown & Thompson,
P.C., 5020 University Avenue, Suite 433, Lubbock, Texas 79413, as escrow agent
upon execution of this Agreement by the City. If permitted by law, all interest
thereon shall be applied to the total purchase price and any additional fees
incurred by the City. Any excess shall be returned to Developers and Title
Company in the same proportion as their contributions.
5.2 When City is instructed by TxDOT that the purchase has been approved by the
Texas Attorney General, City shall complete the purchase of the Property from
TXDOT and deposit the Deed in escrow.
5.3 Upon notification that the City has deposited the Deed from TxDOT in escrow,
Developers and Title Company shall immediately notify the Escrow Agent to
release the total purchase price and any additional fees incurred by the City to the
City in the form of a Cashier's Check made payable to the City of Lubbock,
Texas.
ARTICLE VI
MISCELLANEOUS
6.1 This Agreement is performable in Lubbock County, Texas, and venue for any
action arising out of this Agreement shall be exclusively in Lubbock County,
Texas. This Agreement shall be governed by and construed in accordance with
the laws of the State of Texas.
6.2 This Agreement embodies the complete agreement of the parties hereto as it
relates to the purchase of the property described in Exhibit
A, superseding all oral or written previous and contemporary agreements between
the parties and relating to matters in this Agreement, and except as otherwise
provided herein cannot be modified without written agreement of the parties to be
attached to and made a part of this Agreement.
The parties enter into this Agreement on July 22 , 2010.
CITY OF LUBBOCK
TOM MARTIN, MAYOR
ATTEST:
A;�
Rebe Garza, City ecret
APPROVED AS TO CONTENT:
M 1,A da
aAA
Marsha Ree ,P.E.,
Chief Operating Officer
BACON CREST, Ltd.
-6eorge,fv-1cNhfihan Development, LLC
General Partner
By: George H. McMahan
CTC Real Estate, LP
By: Scott Collier
Western Title, Inc.
B : Bob Brandt
APPROVED AS TO FORM:
Linda L. Chamales,
Economic Development Attorney
Lc:cityatt/Linda/City Reimbursement Agreement Drainage Easement Spur 313 Final
July 2, 2010
Resolution No. 2010-RO335
REIMBURSEMENT AGREEMENT
EXHIBIT "A"
Consisting of three Tracts described in the attached Survey Plats:
Survey Plat of Tract 1, 0.42 Acres located in Section 30, Block AK
Survey Plat of Tract 2, 1.06 Acres located in Section 29, Block AK
Survey Plat of Tract 3, 1.06 Acres located in Section 29, Block AK
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Resolution No, 2010-RO335
EXHIBIT "A"
Page 2 of 3
Field Notes
Field notes on a 0.42 acre tract of surplus right-of-way in 82nd Street recorded in
Volume 6125, Page 168 and Volume 5703, Page 108, of the Real Property Records
of Lubbock, County, Texas, located in Section 30, Block AK, said 0.42 acre tract of
land being more particularly described by metes and bounds as follows:
BEGINNING at a point in the North right-of-way line of 82nd Street as described in
Volume 1112, Page 344, Deed Records of Lubbock County, Texas and the East line
of Section 30, Block AK for the Southeast corner of this tract which bears North
02°21'28" East a distance of 55.00 feet from the Southeast corner of Section 30,
Block AK, Lubbock County, Texas;
(1) THENCE North 87033'37" West, along the North right-of-way line of said
82nd Street, at 95.02 feet pass the most Southerly Southeast corner of a 1.352 acre
tract of land described in County Clerks file number 200921772, Official Public
Records of Lubbock County, Texas, continuing along said right-of-way line, at
314.93 feet pass the Southwest corner of said 1.352 acre tract and the Southeast
corner of Tract A, Lubbock National Bank 82nd Street Addition, to the City of
Lubbock, Lubbock County, Texas, according to the map, plat and/or dedication deed
thereof recorded in County Clerks file number 2008038453, Official Public Records
of Lubbock County, Texas, continuing along said right-of-way line at 499.18 feet
pass the Southwest corner of said Tract A, Lubbock National Bank 82nd Street
Addition and the Southeast corner of Tract A, Playa Vista, an Addition to the City of
Lubbock, Lubbock County, Texas, according to the map, plat and/or dedication deed
thereof recorded in County Clerks file number 2007020876, Official Public Records
of Lubbock County, Texas, continuing for a total distance of 524.18 feet to a cut "x"
in concrete set for the Southwest corner of this tract;
(2) THENCE North 02°21'05" East a distance of 35.00 feet to a cut "x" in
concrete set for the Northwest corner of this tract;
(3) THENCE South 87°33'37" East, at 25.00 feet pass the East line of said
Tract A, Playa Vista and the West line of said Tract A, Lubbock National Bank 82nd
Street Addition, at 209.25 feet pass the East line of said Tract A, Lubbock National
Bank 82nd Street Addition and the West line of said 1.352 acre tract, at 459.37 feet
pass the East line of said 1.352 acre tract and the West right-of-way line of
Milwaukee Avenue described in Volume 9683, Page 275, Official Public Records of
Lubbock County, Texas, continuing for a total distance of 524.19 feet to a point in
the East line of said Section 30, Block AK, for the Northeast corner of this tract;
(4) THENCE South 02°21' l 8" West, along said right-of-way line, a
distance of 35.00 feet to the Point of Beginning.
CONTAINING an area of 0.42 acres of land.
I hereby certify that this plat is based on the ground survey made under my
supervision.
May 4, 2010
Daniel E. Martinez
Registered Professional
Land Surveyor No. 4515
State of Texas
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Resolution No. 2010-RO335
EXHIBIT "A"
Page 2 of 3
Field Notes
Field notes on a 1.06 acre tract of surplus right-of-way in 82nd Street recorded in
Volume 6125, Page 168 and Volume 5703, Page 104, of the Real Property Records
of Lubbock County, Texas, located in Section 29, Block AK, said 1.06 acre tract of
land being more particularly described by metes and bounds as follows:
BEGINNING at a point in the North right-of-way line of 82nd Street as described in
Volume 1112, Page 344, Deed Records of Lubbock County, Texas and the West line
of Section 29, Block AK for the Southwest corner of this tract which bears North
02°21'28" East a distance of 55.00 feet from the Southwest corner of Section 29,
Block AK, Lubbock County, Texas;
(1) THENCE North 02°21'28" East, along the West line of said Section 29,
Block AK, a distance of 35.00 feet to a point for the Northwest corner of this
tract;
(2) THENCE South 87°33'37" East, at 55.00 feet pass the West right-of-way line
of Milwaukee Avenue as described in Volume 9620, Page 13, Official Public
Records of Lubbock County, Texas and the West line of Tract A, Mia's Miles,
an Addition to the City of Lubbock, Lubbock County, Texas, according to the
map, plat and/or dedication deed thereof recorded in Volume 10447, Page
254, Official Public Records of Lubbock County, Texas, at 309.02 feet pass
the Southeast line of said Tract A, Mia's Mile and the West line of a 2.749
acre tract of land described in Volume 9738, Page 317, Official Public
Records of Lubbock County, Texas, at 573.36 feet pass the East line of said
2.749 acre tract and the West line of Tract B, Mia's Mile, an Addition to the
City of Lubbock, Lubbock County, Texas, according to the map, plat and/or
dedication deed thereof recorded in County Clerks file number 2007011188,
Official Public Records of Lubbock County, Texas, at 703.93 feet pass the
East line of said Tract B, Mia's Mile and the West line of a 2.915 acre tract of
land described in County Clerks file number 2007043323, Official Public
Records of Lubbock County, Texas, at 1212.25 feet pass the East line of said
2.915 acre tract and the West line of Tract A, Halle Subdivision, an Addition
to the City of Lubbock, Lubbock County, Texas, according to the map, plat
and/or dedication deed thereof recorded in County Clerks file number
2008000072, Official Public Records of Lubbock County, Texas, continuing
for a total distance of 1320.92 feet to a cut "x" in concrete set for the
Northeast corner of this tract;
(3) THENCE South 02024'09" West a distance 35.00 feet to a cut "x" in concrete
set in the North right -of- way of 82nd Street and the South line of said Tract
A. Halle Subdivision for the Southeast corner of this tract;
n.
(4) THENCE North 87"33'37" West, along said right-of-way line and the South
line of said Tract A, Halle Subdivision, at 105.94 feet pass the Southwest
corner of said Tract A, Halle Subdivision and the Southeast corner of said
2.915 acre tract, continuing along said right -of --way line, at 614.04 feet pass
the Southwest corner of said 2.915 acre tract and Southeast corner of said
Tract A, Mia's Mile, at 744.61 feet pass the Southwest corner of said Tract A
and the Southwest corner of said 2.749 acre tract, continuing along said right-
of-way line for a total distance of 1320.89 feet to the Point of Beginning.
CONTAINING an area of 1.06 acres of land.
I hereby certify that this plat is based on the ground survey made under my
supervision.
May 4, 2010
Daniel E. Martinez
Registered Professional
Land Surveyor No. 4515
State of Texas
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Resolution No. 2010-RO335
EXHIBIT "A"
Page 2 of 3
Field Notes
Field notes on a 1.06 acre tract of surplus right-of-way in 82nd Street recorded in
Volume 6125, Page 168 and Volume 5703, Page 106, of the Real Property Records
of Lubbock County, Texas, located in Section 29, Block AK, said 1.06 acre tract of
land being more particularly described by metes and bounds as follows:
BEGINNING at a mag nail with washer set in the North right-of-way line of 82nd
Street as described in Volume 1112, Page 344, Deed Records of Lubbock County,
Texas and the West line of the Southeast Quarter of Section 29, Block AK for the
Southeast corner of this tract which bears North 02°26'43" East a distance of 55.00
feet from the Southwest corner of the Southeast Quarter of Section 29, Block AK,
Lubbock County, Texas;
(1) THENCE North 87°33'37" West, along said right-of-way line, at 67.5 feet
pass the most Southerly Southeast corner of Tract A, Cascada Professional Office
Park, an Addition to the City of Lubbock, Lubbock County, Texas, according to the
map, plat and/or dedication deed thereof recorded in Volume 9205, Page 210,
Official Public Records of Lubbock County, Texas, continuing along said right-of-
way line at 752.00 feet pass the Southwest corner of said Tract A, and the Southeast
corner of a 1.03 acre tract of land described in Volume 9340, Page 321, Official
Public Records of Lubbock County, Texas, continuing along said right-of-way line
at 932.00 feet pass the Southwest corner of said 1.03 acre tract and the Southeast
corner of Tract A, CTC Addition, to the City of Lubbock, Lubbock County, Texas,
according to the map, plat and/or dedication deed thereof recorded in County Clerks
file number 2006030171, Official Public Records of Lubbock County, Texas,
continuing along said right-of-way line at 1,102.00 feet pass the Southwest corner of
said Tract A, CTC Addition and the Southeast corner of Tract A, Hi -Lo Subdivision,
an Addition to the City of Lubbock, Lubbock County, Texas, according to the map,
plat and/or dedication deed thereof recorded in County Clerks file number
2006034256, Official Public Records of Lubbock County, Texas, continuing along
said right-of-way line, at 1252.00 feet pass the Southwest corner of said Tract A, and
the Southeast corner of Tract A, Halle Subdivision, an Addition to the City of
Lubbock, Lubbock County, Texas, according to the map, plat and/or dedication deed
thereof recorded in Volume 10447, Page 254, Official Public Records of Lubbock
County, Texas, continuing for a total distance of 1320.88 feet to a cut "x" in concrete
set for the Southwest corner of this tract;
(2) THENCE North 02°24'09" East a distance of 35.00 feet to a cut "x" in
concrete set for the Northwest corner of this tract;
(3) THENCE South 87°33'37" East, at 68.91 feet pass the East line of said
Tract A, Halle Subdivision and the West line of said Tract A, Hi -Lo
Subdivision, at 218.91 feet pass the East line of said Tract A, Hi -Lo
Subdivision and the West line of said Tract A, CTC Addition, at 388.91
feet pass the East line of said Tract A and the West line of said 1.03 acre
tract, at 568.918 feet pass the East line of said 1.03 acre tract and the West
line of said Tract A, Cascada Professional Office Park, at 1283.41 pass the
East line of said Tract A and the West right-of-way line of Iola Avenue
dedicated by plat recorded in Volume 9205, Page 210, Official Public
Records of Lubbock County, Texas, continuing for a total distance of
1320.91 feet to a mag nail with washer set in the West line of the Southeast
Quarter of said Section 29, for the Northeast corner of this tract;
(4) THENCE South 02"26'43" West, along the West line of the Southeast
Quarter of said Section 29, a distance of 35.00 feet to the Point of
Beginning.
CONTAINING an area of 1.06 acres of land.
I hereby certify that this plat is based on the ground survey made under my
supervision.
May 4, 2010
I -
Daniel E. Martinez
Registered Professional
Land Surveyor No. 4515
State of Texas