HomeMy WebLinkAboutResolution - 2023-R0116 - Contract 17169 with NWP EB-5 Project for Land PurchaseResolution No. 2023-RO1 16
Item No. 6.3
March 7, 2023
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 1
on behalf of the City of Lubbock, a Contract For The Purchase Of Unimproved Real Property
Agreement No. 17169 on behalf of the North Point Public Improvement District, by and
between the City of Lubbock and NWP EB-5 Project, LLC, 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 March 7, 2023
ATTEST:
-- ( t A
CoYwtney Paz, Interim City S
APPROVED AS TO CONTENT:
0
D. Blu Kostelich, Chief Financial Officer
APPROVED AS TO FORM:
lli Leisure, Senior Assistant City Attorney
ccdocs/RES. Contract for the Sale of Real Property NPPID
2.20.23
Resolution No. 2023-RO116
I.Z TEXAS REACTORS
COMMERCIAL CONTRACT - UNIMPROVED PROPERTY
USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORSO, INC. IS NOT AUTHORIZED.
®Texas Association of REALTORS0, Inc. 2022
1. PARTIES: Seller agrees to sell and convey to Buyer the Property described in Paragraph 2. Buyer agrees
to buy the Property from Seller for the sales price stated in Paragraph 3. The parties to this contract are:
Seller: NWP E13-5 Proiect, LLC
Address: 1500 BroadwaV, Suite 1500, Lubbock, TX 79401
Phone: 806-793-0703 E-mail: Mont.mcciendon@mcdougal.com
Mobile: Fax or Other:
Buyer: City of Lubbock, Texas
Address:
Phone:_
Mobile:
2. PROPERTY:
E-mail:
Fax or Other:
A. "Property" means that real property situated in Lubbock County, Texas at
3 parcels north of the alley north of Marshall St., between Slide Road and N. Abbeville Ave
(address) and that is legally described on the attached Exhibit A-1, A-2, and A-3 or as follows:
B. Seller will sell and convey the Property together with:
(1) all rights, privileges, and appurtenances pertaining to the Property, including Seller's right, title, and
interest in any minerals, utilities, adjacent streets, alleys, strips, gores, and rights -of -way;
(2) Seller's interest in all leases, rents, and security deposits for all or part of the Property; and
(3) Seller's interest in all licenses and permits related to the Property.
(Describe any exceptions, reservations, or restrictions in Paragraph 12 or an addendum.)
(if mineral rights are to be reserved an appropriate addendum should be attached.)
3. SALES PRICE:
A. At or before closing, Buyer will pay the following sales price for the Property:
(1) Cash portion payable by Buyer at closing ........................ $
(2) Sum of all financing described in Paragraph 4 .................... $
(3) Sales price (sum of 3A(1) and 3A(2)) ........................... $
42,395.00
42,395.00
(TXR-1802) 07-08-22 Initialed for Identification by Selle ' and yer
McDougal REALTORS, 5001 W. Loop 289 Lubbock TX 79414 ne' 793-0703 Fax. (806)589-0199
Marc McDougal Produced with Lone Wolf Transactions (zipForm Edition) 717 N Harwood St, Suite Dallas, TX 7520-1 www.IwoH.com
Page 1 of 15
Untitled
Commercial Contract - Unimproved Property concerning
3 parcels north of the alley north of Marshall St.,
between Slide Road and N. Abbeville Ave
B. Adjustment to Sales Price: (Check (1) or (2) only.)
8 (1) The sales price will not be adjusted based on a survey.
(2� The sales pace wiff be sdN steel based w the West st"ey ebtawred tmder flwiaftraph 6S.
(aj 7be sales price is calculate� on the basls -of $
❑t �` ❑ aroma ❑ area.
(� a��€� fetal• area ❑ area.
109
arm„ means. -al land area --within the meter boundaries -of- ,Pf-opeitty. W area„
Metal area4ess any , area -of bhee flftperty witl4n:
pubfic foadwaW,
(R) • and -its -cMw than those that di r ly provide tttili-ty se� to the
PrWert and
❑ fi4)
# the— sales prfce-ts adm8te-d by riivr"Mrr Wof 4he 5t'3tG'L#'
f er rate #ass �f�yr written mice fe#e-o#w
after t•- terms partr-feeeives =the survey.- ff neMw
varian,ce'ts-fess-- hf m-the + `-pereentage, 1he adjusmert-to-the sales price will be made to
the cash portion of the sales price payable by Buyer.
4. FINANCING: �rrar esalesii�f'aag�apl� 3r¢2) asr;vl#ev�►s
❑ .- Rt to ftfirrarrcim: wear v e it rir��artp toas�si�t ` e al at�rt e�,` $
H
f 1 } gs gent � sec obtakft party �traancing.
t-23_+_-ewMngent open--Buyep-iM3t� third p" fff�g in - �-with- the--aftehed
5. EARNEST MONEY:
A. Not later than 3 days after the effective date, Buyer must deposit $ 1,000.00 as earnest
money with Title One (title company)
at 6102 82nd St Ste 11 Lubbock TX 79424 (address) (closer).
If Buyer fails to timely deposit the earnest money, Seller may terminate this contract or exercise any of
Seller's other remedies under Paragraph 15 by providing written notice to Buyer before Buyer deposits
the earnest money.
B. f tsyer wffl dep�itarr asp e,` 'With- tf to &fie-eot pany-to be wade
—pie ` morfey-en or before'
�racefr f3�i�er's-fi�t `�¢Y:�rr„►,-remc iiiri�Er �fa�fa�r-�eif�ifes•; �r
in defau f f# Buyer-;aifs fowred by ttfs-f'afagrsphr5B
rvitt�it��4ays-after-Sefler" res-a yer-that ftyer bas mt1fftP
•the-�af a Count.
(TXR-1802) 07-08-22 Initialed for Identification by Seller -and B Page 2 of 15
McDougal REALTORS, 5001 W. Loop 289 Lubbock TX 79414 Phone- Fax: (806)589.0199 Untitled
Marc McDougal Produced with lone Wolf Transactions (zipForrn Edition) 717 N Harwood St, Suite 2200,01 www.lwclf.com
3 parcels north of the alley north of Marshall St.,
Commercial Contract - Unimproved Property concerning between Slide Road and N. Abbeville Ave
C. Buyer may instruct the title company to deposit the earnest money in an interest -bearing account at a
federally insured financial institution and to credit any interest to Buyer.
6. TITLE POLICY AND SURVEY:
A. Title Policy:
(1) Seller, at Seller's expense, will furnish Buyer an Owner's Policy of Title Insurance (the title policy)
issued by any underwriter of the title company in the amount of the sales price, dated at or after
closing, insuring Buyer against loss under the title policy, subject only to:
(a) those title exceptions permitted by this contract or as may be approved by Buyer in writing; and
(b) the standard printed exceptions contained in the promulgated form of title policy unless this
contract provides otherwise.
(2) The standard printed exception as to discrepancies, conflicts, or shortages in area and boundary
lines, or any encroachments or protrusions, or any overlapping improvements:
x (a) will not be amended or deleted from the title policy.
(b) will be amended to read "shortages in areas" at the expense of ❑ Buyer ❑ Seller.
(3) Within 20 days after the effective date, Seller will furnish Buyer a commitment for title insurance
(the commitment) including legible copies of recorded documents evidencing title exceptions. Seller
authorizes the title company to deliver the commitment and related documents to Buyer at Buyer's
address.
B. Survey: Within 10 days after the effective date:
0 (1) Buyer will obtain a survey of the Property at Buyer's expense and deliver a copy of the survey to
Seller. The survey must be made in accordance with the: (i) ALTA/NSPS Land Title Survey
standards, or (ii) Texas Society of Professional Surveyors' standards for a Category 1A survey
under the appropriate condition. Seller will reimburse Buyer $0 (insert
amount) of the cost of the survey at closing, if closing occurs.
❑ (2) SOW, act bated eider the eff&&dve date.
The swvep ; .rr stbe-ffmdein seeardance invitl r-t-re-- Jft AL4 A WGf1&Viand- Tale aufvey sfandards�, w
Texas- Society -ef Prc kwier a -S�rs' s`rar)daFds-;F-�--GategM 1A survey under- the
conditim:
❑ (33 Belief, wiif deiivef to-BuyreF
sdeq of the ate- ragttsr� ate,
&&shn survey. t; thee sweet'-ss-mA aceeptabiellk&-tWe-e��,---D Saw— R-suyw
(updapady);the expense; iA*M r-a aeeeptabje
to . the title . eempany and deWerr- sue+ � the othef past-- end #ire lWe tofftl3my
wig-30 days aver the title =npanyF-netffies the parties -that the existtrtg survey is�acceptable
te, 1he ItSe tompany. The dosing dam-wilf be exte�-daily- ttp to 3D days -* necessary. foi -,the
updaft pafty to de#ivef aft-with� tire- t fequr'red. The othef party -aril!
feinibwse- the updating- tJF {tr� amount or entage) of the —east
of tie mwof-epdateds� at of *ft, 4` cfos V occurs.
C. Buyer's Objections to the Commitment and Survey:
(1) Within 10 days after Buyer receives the last of the commitment, copies of the documents
evidencing the title exceptions, and any required survey, Buyer may object in writing to matters
disclosed in the items if: (a) the matters disclosed are a restriction upon the Property or constitute a
defect or encumbrance to title other than those permitted by this co tract or liens that Seller will
(TXR-1802) 07-08-22 Initialed for Identification by Selle�and B er Page 3 of 15
McDougal REALTORS. 5001 W. Loop 289 Lubbock TX 79414 Phone: )793-0703 Fax (806)589.0199 Untitled
Marc McDougal Produced with Lone Wolf Transactions (zipFonn Edition) 717 N Harwood St. Suite 2200 Dallas TX 75201 www.lwof.com
Commercial Contract - Unimproved Property concerning
3 parcels north of the alley north of Marshall St.,
between Slide Road and N. Abbeville Ave
satisfy at closing or Buyer will assume at closing; or (b) the items show that any part of the Property
lies in a special flood hazard area (an "A" or W" zone as defined by FEMA). If the commitment or
survey is revised or any new document evidencing a title exception is delivered, Buyer may object
in writing to any new matter revealed in such revision or new document. Buyer's objection must be
made within the same number of days stated in this paragraph, beginning when the revision or new
document is delivered to Buyer. If Paragraph 66(1) applies, Buyer is deemed to receive the survey
on the earlier of: (i) the date Buyer actually receives the survey; or (ii) of the deadline specified in
Paragraph 6B.
(2) Seller may, but is not obligated to, cure Buyer's timely objections within 15 days after Seller
receives the objections. The closing date will be extended as necessary to provide such time to
cure the objections. If Seller fails to cure the objections by the time required, Buyer may terminate
this contract by providing written notice to Seller within 5 days after the time by which Seller must
cure the objections. If Buyer terminates, the earnest money, less any independent consideration
under Paragraph 76(1), will be refunded to Buyer.
(3) Buyer's failure to timely object or terminate under this Paragraph 6C is a waiver of Buyer's right to
object except that Buyer will not waive the requirements in Schedule C of the commitment.
7. PROPERTY CONDITION:
A. Present Condition: Buyer accepts the Property in its present condition except that Seller, at Seller's
expense, will complete the following before closing: N/A
B. Feasibility Period: Buyer may terminate this contract for any reason within 60 days after the
effective date (feasibility period) by providing Seller written notice of termination.
(1) Independent Consideration. (Check only one box and insert amounts.)
x❑ (a) If Buyer terminates under this Paragraph 7B, the earnest money will be refunded to Buyer less
$ 250 that Seller will retain as independent consideration for Buyer's
unrestricted right to terminate. Buyer has tendered the independent consideration to Seller
upon payment of the amount specified in Paragraph 5A to the title company. The independent
consideration is to be credited to the sales price only upon closing of the sale. If no dollar
amount is stated in this Paragraph 7130) or if Buyer fails to deposit the earnest money. Buyer
will not have the right to terminate under this Paragraph 7B.
❑ (b) Nir` 4ater r-..3 days -- — �
tr eper tf mat r ;ems ftigi t� y1 , stxchtam * la the titte
Yf� `"S'�IQ£?F'S'f,tfe3i F4�C4lie `Lf� EOtiseTi LPL�r9� �: 4f
BuM tenminates-ttf . 4his4%ragfaptr '7a, the-eernestr'Tneffey wilf'be-'fef coded-!e-EhryeF-and
Seiler wilf fetaift tie ' ation-.4-he went cons-ideratieft -w4 bet redited
to the sales -price ttpm tivsirV,of the salmi -lip �`r is st'a`eei ire' Yids Par a
7 fails to M }ire-21ft@ftftW eo„f er@tit. €hfM Will Y 8a -ftZfift*
tef nk atetwider Yiiis f'at'aarai r
❑ (2) EmaM$P f'et # _ - to 4hL xpati -~4nAmFfeasb&ty period, BoW may'extend
tine -kw -. sifKj-Re-additiofr t ,ems days by AeWe" $
to the titfe-e�p as addiYienaf earnest vioney,.
(a) at ;he as dal
independent emsiderat on -for er,- �tethe
(TXR-1802) 07-08-22 Initialed for Identification by
and
McDougal REALTORS, 5001 W. Loop 289 Lubbock TX 79414 Phone'
Marc McDougal Produced with Lone Wolf Transactions (zipFonn Edition) 717 N Harwood St, Suite 2200.
�,%I- Page 4of15
1-0703 Fax (8%)589-0199 Untitled
TX 75201 www.lwotf.com
Commercial Contract - Unimproved Property concerning
3 parcels north of the alley north of Marshall St.,
between Slide Road and N. Abbeville Ave
sales price- vn"pon-ekmng ,of the sale. if Buyer `1 ernttiates f ndw this $8r�� 7U, the
addWonal em..-n�. wi l be refunded to firer'and .Sellei miff feta� the 8d&�
.
(b) OuM deliver tft �elierr�v�►ig�tc e
Selws'mquest witha'ut to Of Vmsem #rimer:
❑ ❑� — - ; e femakft jon -of the � eer,rest money;
whictr will tie efetndett 13t .Bttyer terinkiates under Ahis f'ar-aWeo 7B or if Befler
defauft th + .
i i-N..i a 1J� tyi - i L� 'P G i 9 .
C. Inspections. Studies. or Assessments:
(1) During the feasibility period, Buyer, at Buyer's expense, may complete or cause to be completed
any and all inspections, studies, or assessments of the Property (including all improvements and
fixtures) desired by Buyer.
(2) Buyer must:
(a) employ only trained and qualified inspectors and assessors;
(b) notify Seller, in advance, of when the inspectors or assessors will be on the Property;
(c) abide by any reasonable entry rules or requirements of Seller;
(d) not interfere with existing operations or occupants of the Property; and
(e) restore the Property to its original condition if altered due to inspections, studies, or
assessments that Buyer completes or causes to be completed.
(3) Except for those matters that arise from the negligence of Seller or Seller's agents, Buyer is
responsible for any claim, liability, encumbrance, cause of action, and expense resulting from
Buyer's inspections, studies, or assessments, including any property damage or personal injury.
Buyer will indemnify, hold harmless, and defend Seller and Seller's agents against any claim
involving a matter for which Buyer is responsible under this paragraph. This paragraph survives
termination of this contract.
D. Property Information:
(1) Delivery of Property Information: Within 0 days after the effective date, Seller will deliver to
Buyer the following to the extent in Seller's possession or control: (Check all that apply.)
Lj (a) copies of ell--etffreftt leases, including minerat ems, pedairift-to-the Property,,-incktding
a , vf. to -leases;
❑ (ba-eepies~af-Orotes and will amtme�- tW SeHer
will riot-psy 4n fug On ens be€*Fe-dk�;
❑ (c� -ccptes , deal - mpo ts, shtd- es, or arraly
copiF-�-ta -RK the pry 2 mar yeafs,
(e� p ats-ef tleflf-ep�,
(4�s -of ed tv lty -espacitp. letters Irom-the-Pmpefty's 'and sewer- service-preak1er;
at4
(g) None
(TXR-1802) 07-08-22 Initialed for Identification by Selle and BU Page 5 of 15
McDougal REALTORS, 5001 W. Loop 289 Lubbock TX 79414 P ne: )793 0703 Fax (806)589 0199 Untitled
Marc McDougal Produced with Lone Wolf Transactions (zipFonn Edition) 717 N Harwood St, Suite 22 . Dallas. TX 75201 www.IwoH.com
Commercial Contract - Unimproved Property concerning
3 parcels north of the alley north of Marshall St.,
between Slide Road and N. Abbeville Ave
(2) Return of Property Information: If this contract terminates for any reason, Buyer will, not later than
10 days after the termination date: (Check all that apply.)
17
(a) return to Seller all those items described in Paragraph 7D(1) that Seller delivered to Buyer in
other than an electronic format and all copies that Buyer made of those items;
❑ (b) delete -or- >destrorversiom of those fterns desesibed in l'aragraptt 7D( 4 ) that Seller
cielf:fedto t�rar format; and
(c) deliver to Seller copies of all inspection and assessment reports related to the Property that
Buyer completed or caused to be completed.
This Paragraph 7D(2) survives termination of this contract.
E. Contracts Affecting Operations: Until closing, Seller: (1) will operate the Property in the same manner
as on the effective date under reasonably prudent business standards; and (2) will not transfer or
dispose of any part of the Property, any interest or right in the Property, or any of the personal property
or other items described in Paragraph 2B or sold under this contract. After the feasibility period ends,
Seller may not enter into, amend, or terminate any other contract that affects the operations of the
Property without Buyer's written approval.
8. LEASES:
A. 3 acl•fi written kase Seiler- is to assign -to f3Ww wxler--thts e&ntsct must be ter 46# -I'@rfce and effect
according to, fts tutu. sekl-fnay fist eater- trite-eny Tease, fail 1&,eorViy with aW exis"Tease,
of f4'rSi.`e s iry amendment- or- m— dii cati n7 to sr-T 'fib consent: - Beffer
must disci ' in �vfitle� irar�r�e#ollc�v�if�g e � ltyasest dyer
or -subsequently occur before dosing:
f # -any- failtKe by Seller ler Ila eof�rpF}t r �� �e�eases;
2) any circumstances to tdef a-ny lase that srAf letle-test-tote iscste-theiesse-or,seek--r offsets,
o"Jamageg
str(s -by a *nartt under ariy lease;
(4}-any wms* ins, lases, fee -rents, rebates, bfokerage commissiorts, or other mattefsllrat-af eet
46� any arts flayab* wder-eases ` -ar ,-wes-s tq'
fo--feaf�¢s}8"S�re� �r-�al`2�rs��bjec`r t8 �i►- � ��I,rtray�.
B. EstWpel Certificates: Wthm days -after -the effective da ,-,- effet ilf -,ter l tsye�-es"pel
eerftiftcaters sWed riot earftert ire tenarrt,that feases-space
i.n the Property; Tbiaesvppel -eerKteatesf-;r•_,�,e e , eonts+nsd fn-thecuffer&version
of TXR Farm 4136-F CimvrercFal Tena t a pel CerrtYscate arse# any addsti—al•W0rMatiV-R fequested
b r a tl*d partyr feeder -Wv6ding finaneft underr -Paragraphr 4- 4 the - fermi mquests-sueh
mat least % days p0of-to- the-eaf iest a -diet Seller- may -defivep-,he-signed
es"Weert+�•
(TXR-1802) 07-08-22 Initialed for Identification by Seller and Bu r Page 6 of 15
McDougal REALTORS, 5001 W. Loop 289 Lubbock TX 79414 Phone )793.0703 Fax: (806)589.0199 Untitled
Mare McDougal Produced with Lone Wolf Transactions (zipForm Edition) 717 N Harwood St, Suite 2200, Dallas. TX 75201 www.lwolf.com
Commercial Contract - Unimproved Property concerning
9. BROKERS:
A. The broll-ers to this safe are:
Phone & fax:
Eiee;-tse-6da-
3 parcels north of the alley north of Marshall St.,
between Slide Road and N. Abbeville Ave
Cooper. SmIker.
AVent
Address:
Phone & Fax:
E-mail:
License -No=
f'If =tW f3rker: f Chet* o* one tom) Coating Broker represeritts fryer.
i '3F esents, S {01W
represents Buyer .
is are iriterredtary beNveen Seller and Buyer.
D. Fees: (Check only y t 1) or f2� w-)
fCompkAa Me Agreement DeNveen Bfokers on page $4 f 1) is se, ed.)
❑ (1) Seller will pay f'rif"rcgM Broker the fee spect; by separate wrft`ten vtsston agreemi ent
bemeenf1rift-084 Brzker end Suer. Rrtmpaf f3fokef wall pay Cooperating 13iceiker the fee specified
ter the Agreement BeNveen Biters futnd below the W-des' signatures to this contract.
❑ (2) At tf,e c,'oei 'D` thris sale, Seller will pay:
r'rinetpal Broker a ,fetal cash The of:
H%ref the safes prtce.
C�apz -atft ®roller a total cash free cif,
❑ % of the sales pr-tce.
The cash fees will be paid in eatrrty, Texas. Seller authorizes
the title company to pay #e bfokws from 4te- Sees prro^eeds at Wig.
Adf}TfCE: Chapter 52, Texas Prepedy Code, auffienzes a broker to sire are eamed commismn
Wqh a flea agah7st the pmpefty.
C. The parties rns7 not amend this Paragraph g without the written consefit of the bro4w-s at`€ected by the
Wit.
10. CLOSING:
A. The date of the closing of the sale (closing date) will be on or before the later of.
(1) days after the expiration of the feasibility period.
April 14, 2023 (specific date).
(2) 7 days after objections made under Paragraph 6C have been cured or waived.
B. If either parry fails to close by the closing date, the non -defaulting party may exercise the remedies in
Paragraph 15.
(TXR-1802) 07-08-22 Initialed for Identification by Seller and Bu Page 7 of 15
McDongal REACTORS, 5001 W. Loop 289 Lubbock TX 79414 Phone: )793-0703 Fax (806)599-0199 Untitled
Mare McDougal Produced with Lone Wolf Transactions (zipFonn Edition) 717 N Harwood St. Suite 2200, alias, TX 75201 www.tptplf.com
Commercial Contract - Unimproved Property concerning
3 parcels north of the alley north of Marshall St.,
between Slide Road and N. Abbeville Ave
C. At closing, Seller will execute and deliver, at Seller's expense, a ❑ general ❑x special warranty deed.
The deed must include a vendor's lien if any part of the sales price is financed. The deed must convey
good and indefeasible title to the Property and show no exceptions other than those permitted under
Paragraph 6 or other provisions of this contract. Seller must convey the Property:
(1) with no liens, assessments, or other security interests against the Property which will not be
satisfied out of the sales price, unless securing loans Buyer assumes;
(2) without any assumed loans in default; and
(3) with no persons in possession of any part of the Property as lessees, tenants at sufferance, or
trespassers except tenants under the written leases assigned to Buyer under this contract.
D. At closing, Seller, at Seller's expense, will also deliver to Buyer:
(1) tax statements showing no delinquent taxes on the Property;
(2) an assignment of all leases to or on the Property;
(3) to the extent assignable, an assignment to Buyer of any licenses and permits related to the
Property;
(4) evidence that the person executing this contract is legally capable and authorized to bind Seller;
(5) an affidavit acceptable to the title company stating that Seller is not a foreign person or, if Seller is
a foreign person, a written authorization for the title company to: (i) withhold from Seller's proceeds
an amount sufficient to comply with applicable tax law; and (ii) deliver the amount to the Internal
Revenue Service (IRS) together with appropriate tax forms; and
(6) any notices, statements, certificates, affidavits, releases, and other documents required by this
contract, the commitment, or law necessary for the closing of the sale and issuance of the title
policy, all of which must be completed by Seller as necessary.
E. At closing, Buyer will:
(1) pay the sales price in good funds acceptable to the title company;
(2) deliver evidence that the person executing this contract is legally capable and authorized to bind
Buyer;
(3) sign and send to each tenant in a lease for any part of the Property a written statement that:
(a) acknowledges Buyer has received and is responsible for the tenant's security deposit; and
(b) specifies the exact dollar amount of the security deposit;
(4) sign an assumption of all leases then in effect; and
(5) execute and deliver any notices, statements, certificates, or other documents required by this
contract or law necessary to close the sale.
F. Unless the parties agree otherwise, the closing documents will be as found in the basic forms in the
current edition of the State Bar of Texas Real Estate Forms Manual without any additional clauses.
11. POSSESSION: Seller will deliver possession of the Property to Buyer upon closing and funding of this sale
in its present condition with any repairs Seller is obligated to complete under this contract, ordinary wear
and tear excepted. Any possession by Buyer before closing or by Seller after closing that is not authorized
by a separate written lease agreement is a landlord -tenant at sufferance relationship between the parties.
12. SPECIAL PROVISIONS: The following special provisions apply and will control in the event of a conflict
with other provisions of this contract. (If special provisions are contained in an Addendum, identify the
Addendum here and reference the Addendum in Paragraph 22D.)
Prior to Closing, Seller will plat the Property. Buyer will reimburse Seller for platting
expenses in an amount not to exceed $7,600.
Seller discloses everything shown on the Survey or the Commitment.
(TXR-1802) 07-08-22 Initialed for Identification by Sell and Bu Page 8 of 15
McDougal REALTORS, 5WI W. Loop 289 Lubbock TX 79414 Phone: )793-0703 Fax (806)589 0199 Uutltkd
Marc McDougal Produced with Lone Wolf Transactions (zipFonn Edibon) 717 N Harwood St, Suite 2200. Dallas, TX 75201 www.lwof.com
3 parcels north of the alley north of Marshall St.,
Commercial Contract - Unimproved Property concerning between Slide Road and N. Abbeville Ave
13. SALES EXPENSES:
A. Seller's Expenses: Seller will pay for the following at or before closing:
(1) releases of existing liens, other than those liens assumed by Buyer, including prepayment penalties
and recording fees;
(2) release of Seller's loan liability, if applicable;
(3) tax statements or certificates;
(4) preparation of the deed;
(5) one-half of any escrow fee;
(6) costs to record any documents to cure title objections that Seller must cure; and
(7) other expenses that Seller will pay under other provisions of this contract.
B. Buyer's Expenses: Buyer will pay for the following at or before closing:
(1) all loan expenses and fees;
(2) preparation of any deed of trust;
(3) recording fees for the deed and any deed of trust;
(4) premiums for flood insurance as may be required by Buyer's lender;
(5) one-half of any escrow fee;
(6) other expenses that Buyer will pay under other provisions of this contract.
14. PRORATIONS:
A. Prorations:
(1) Interest on any assumed loan, taxes, rents, and any expense reimbursements from tenants will be
prorated through the closing date.
(2) If the amount of ad valorem taxes for the year in which the sale closes is not available on the
closing date, taxes will be prorated on the basis of taxes assessed in the previous year. If the taxes
for the year in which the sale closes vary from the amount prorated at closing, the parties will adjust
the prorations when the tax statements for the year in which the sale closes become available. This
Paragraph 14A(2) survives closing.
(3) If Buyer assumes a loan or is taking the Property subject to an existing lien, Seller will transfer all
reserve deposits held by the lender for the payment of taxes, insurance premiums, and other
charges to Buyer at closing and Buyer will reimburse such amounts to Seller by an appropriate
adjustment at closing.
B. Rollback Taxes: If Seller's use or change in use of the Property before closing results in the
assessment of additional taxes, penalties, or interest (assessments) for periods before closing, the
assessments will be the obligation of the Seller. If this sale or Buyer's use of the Property after closing
results in additional assessments for periods before closing, the assessments will be the obligation of
Buyer. This Paragraph 14B survives closing.
C. Rent and Security Deposits: At closing, Seller will tender to Buyer all security deposits and the following
advance payments received by Seller for periods after closing: prepaid expenses, advance rental
payments, and other advance payments paid by tenants. Rents prorated to one party but received by
the other party will be remitted by the recipient to the party to whom it was prorated within 5 days after
the rent is received. This Paragraph 14C survives closing.
15. DEFAULT:
A. If Buyer fails to comply with this contract, Buyer is in default and Seller, as Seller's sole remedy(ies),
may terminate this contract and receive the earnest money, as liquidated damages for Buyer's failure
(TXR-1802) 07-08-22 Initialed for Identification by Selle and Buy Page 9 of 15
McDougal REALTORS, 5001 W. Loop 299 Lubbock TX 79414 Phone ( )793-0703 Fax: (806)589-0199 Uatided
Marc McDoupi Produced with Lone Wolf Transactions (zipForm Edition) 717 N Harwood St. Suite 2200 alias. TX 75201 www.lwolf.00m
3 parcels north of the alley north of Marshall St.,
Commercial Contract- Unimproved Property concerning between Slide Road and N. Abbeville Ave
except for any damages resulting from Buyer's inspections, studies or assessments in accordance with
Paragraph 7C(3) which Seller may pursue; or
(Check if applicable)
❑x enforce specific performance, or seek such other relief as may be provided by law.
B. If, without fault, Seller is unable within the time allowed to deliver the estoppel certificates, survey or the
commitment, Buyer may:
(1) terminate this contract and receive the earnest money, less any independent consideration under
Paragraph 76(1), as liquidated damages and as Buyer's sole remedy; or
(2) extend the time for performance up to 15 days and the closing will be extended as necessary.
C. Except as provided in Paragraph 15B, if Seller fails to comply with this contract, Seller is in default and
Buyer may:
(1) terminate this contract and receive the earnest money, less any independent consideration under
Paragraph 7B(1), as liquidated damages and as Buyer's sole remedy; or
(2) enforce specific performance, or seek such other relief as may be provided by law, or both.
16. CONDEMNATION: If before closing, condemnation proceedings are commenced against any part of the
Property, Buyer may:
A. terminate this contract by providing written notice to Seller within 15 days after Buyer is advised of the
condemnation proceedings and the earnest money, less any independent consideration paid under
Paragraph 76(1), will be refunded to Buyer; or
B. appear and defend in the condemnation proceedings and any award will, at Buyer's election, belong to:
(1) Seller and the sales price will be reduced by the same amount; or
(2) Buyer and the sales price will not be reduced.
17. ATTORNEY'S FEES: If Buyer, Seller, any broker, or the title company is a prevailing party in any legal
proceeding brought under or with relation to this contract or this transaction, such party is entitled to
recover from the non -prevailing parties all costs of such proceeding and reasonable attorney's fees. This
Paragraph 17 survives termination of this contract.
18. ESCROW:
A. At closing, the earnest money will be applied first to any cash down payment, then to Buyer's closing
costs, and any excess will be refunded to Buyer. If no closing occurs, the title company may require
payment of unpaid expenses incurred on behalf of the parties and a written release of liability of the
title company from all parties.
B. If one party makes written demand for the earnest money, the title company will give notice of the
demand by providing to the other party a copy of the demand. If the title company does not receive
written objection to the demand from the other parry within 15 days after the date the title company
sent the demand to the other party, the title company may disburse the earnest money to the parry
making demand, reduced by the amount of unpaid expenses incurred on behalf of the party receiving
the earnest money and the title company may pay the same to the creditors.
C. The title company will deduct any independent consideration under Paragraph 7B(1) before disbursing
any earnest money to Buyer and will pay the independent consideration to Seller.
D. If the title company complies with this Paragraph 18, each party hereby releases the title company from
all claims related to the disbursal of the earnest money.
E. Notices under this Paragraph 18 must be sent by certified mail, return receipt requested. Notices to the
title company are effective upon receipt by the title company.
(TXR-1802) 07-08-22 Initialed for Identification by Selle1 and Buy Page 10 of 15
McDougal REALTORS, 5001 W. Loop 289 Lubbock TX 79414 Phone' 793-0703 Fax (806)589-0199 Untitled
Marc McDougal Produced with Lone Wolf Transactions (zipFonn Edition) 717 N Harwood St, Suite 2200, atlas. TX 75201 www.lwoltcom
Commercial Contract - Unimproved Property concerning
3 parcels north of the alley north of Marshall St.,
between Slide Road and N. Abbeville Ave
F. Any party who wrongfully fails or refuses to sign a release acceptable to the title company within 7 days
after receipt of the request will be liable to the other parry for: (i) damages; (ii) the earnest money; (iii)
reasonable attorney's fees; and (iv) all costs of suit.
G. ❑ Setter ❑ Buyer intends) to complete this transaction as a part of an exebange of tff, ind properties
in accordance with Section 1031 of the lnternaf Revenue Cade, as amended. Aff expenses in
connection with the contempt exchange wiff be paid by the exc#-�� party. Tie other party wfll
not incur any expense -or ffabft with respect to the fie. The Woes agree to cooperate ; �tffy and
in good faith to arfange and tonsunwnate, the exchange so as to compfy to the maximum extent
ferasibte with the pmwaioRs of 6ection 1031 of the Wcernal Revenue� Code. The other provi its of this
contract wiff not be affected in the event the contemplated exchange faffs to- occur.
19. MATERIAL FACTS: To the best of Seller's knowledge and belief: (Check only one box.)
❑ A. Seger is not aware of any s, aterial detects to the €faperty except as stated i i t1tie atteched Cornmueiaf
Property Condf n— Statern. eM JXR-14-080 ).
❑x B. Except as otherwise provided in this contract, Seller is not aware of:
(1) any subsurface: structures, pits, waste, springs, or improvements;
(2) any pending or threatened litigation, condemnation, or assessment affecting the Property;
(3) any environmental hazards or conditions that materially affect the Property;
(4) whether the Property is or has been used for the storage or disposal of hazardous materials or
toxic waste, a dump site or landfill, or any underground tanks or containers;
(5) whether radon, asbestos containing materials, urea -formaldehyde foam insulation, lead -based
paint, toxic mold (to the extent that it adversely affects the health of ordinary occupants), or other
pollutants or contaminants of any nature now exist or ever existed on the Property;
(6) any wetlands, as defined by federal or state law or regulation, on the Property;
(7) any threatened or endangered species or their habitat on the Property;
(8) any present or past infestation of wood -destroying insects in the Property's improvements;
(9) any contemplated material changes to the Property or surrounding area that would materially and
detrimentally affect the ordinary use of the Property;
(10) any condition on the Property that violates any law or ordinance.
(Describe any exceptions to (1)-(10) in Paragraph 12 or an addendum.)
20. NOTICES: All notices between the parties under this contract must be in writing and are effective when
hand -delivered, mailed by certified mail return receipt requested, sent by a national or regional overnight
delivery service that provides a delivery receipt, or sent by confirmed facsimile transmission to the parties
addresses or facsimile numbers stated in Paragraph 1. The parties will send copies of any notices to the
broker representing the party to whom the notices are sent.
NxA. Seller also consents to receive any notices by e-mail at Seller's e-mail address stated in Paragraph 1.
B. Buyer also consents to receive any notices by e-mail at Buyer's e-mail address stated in Paragraph 1.
21. DISPUTE RESOLUTION: The parties agree to negotiate in good faith in an effort to resolve any dispute
related to this contract that may arise. If the dispute cannot be resolved by negotiation, the parties will
submit the dispute to mediation before resorting to arbitration or litigation and will equally share the costs
of a mutually acceptable mediator. This paragraph survives termination of this contract. This paragraph
does not preclude a party from seeking equitable relief from a court of competent jurisdiction.
22. AGREEMENT OF THE PARTIES:
A. This contract is binding on the parties, their heirs, executors, representatives, successors, and
permitted assigns. This contract is to be construed in accordance with the laws of the State of Texas. If
any term or condition of this contract shall be held to be invalid or unenforceable, the remainder of this
(TXR-1802) 07-08-22 Initialed for Identification by Sell and BU r Page 11 of 15
McDougal REALTORS, SOOT W. Loop 289 Lubbock TX 79414 Phone: 793-0703 Fax' (806)589-0199 Untitled
Marc McDougal Produced with Lone Wolf Transactions (zipForm Edition) 717 N Harwood St. Suite 2200. atlas, TX 75201 www.lwalf.cam
3 parcels north of the alley north of Marshall St.,
Commercial Contract- Unimproved Property concerning between Slide Road and N. Abbeville Ave
contract shall not be affected thereby. All individuals signing represent that they have the authority to
sign on behalf of and bind the party for whom they are signing.
B. This contract contains the entire agreement of the parties and may not be changed except in writing.
C. If this contract is executed in a number of identical counterparts, each counterpart is an original and all
counterparts, collectively, constitute one agreement.
Addenda which are part of this contract are: (Check all that apply.)
(1) Property Description Exhibit identified in Paragraph 2;
(2) Commercial Contract Financing Addendum (TXR-1931);
(3) Commercial Property Condition Statement (TXR-1408);
(4) Commercial Contract Addendum for Special Provisions (TXR-1940);
(5) Notice to Purchaser of Real Property in a Water District (MUD);
(6) Addendum for Coastal Area Property (TXR-1915);
(7) Addendum for Property Located Seaward of the Gulf Intracoastal Waterway (TXR-1916);
(8) Information About Brokerage Services (TXR-2501);
(9) Information About Mineral Clauses in Contract Forms (TXR-2509);
(10) Notice of Obligation to Pay Improvement District Assessment (TXR-1955, PID); and
(11)
(Note: Counsel for Texas REALTORS@ has determined that any of the foregoing addenda which are promulgated by the
Texas Real Estate Commission (TREC) or published by Texas REALTORS@ are appropriate for use with this form.)
E. Buyer ❑ may X may not assign this contract. If Buyer assigns this contract, Buyer will be relieved
of any future liability under this contract only if the assignee assumes, in writing, all obligations and
liability of Buyer under this contract.
23. TIME: Time is of the essence in this contract. The parties require strict compliance with the times for
performance. If the last day to perform under a provision of this contract falls on a Saturday, Sunday, or
federal reserve bank holiday, the time for performance is extended until the end of the next day which is not
a Saturday, Sunday, or federal reserve bank holiday.
24. EFFECTIVE DATE: The effective date of this contract for the purpose of performance of all obligations is
the date the title company receipts this contract after all parties execute this contract.
26. ADDITIONAL NOTICES:
A. Buyer should have an abstract covering the Property examined by an attorney of Buyer's selection, or
Buyer should be furnished with or obtain a title policy.
B. If the Property is situated in a utility or other statutorily created district providing water, sewer, drainage,
or flood control facilities and services, Chapter 49, Texas Water Code, requires Seller to deliver and
Buyer to sign the statutory notice relating to the tax rate, bonded indebtedness, or standby fees of the
district before final execution of this contract.
C. Notice Required by §13.257, Water Code: "The real property, described below, that you are about to
purchase may be located in a certificated water or sewer service area, which is authorized by law to
provide water or sewer service to the properties in the certificated area. If your property is located in a
certificated area there may be special costs or charges that you will be required to pay before you can
receive water or sewer service. There may be a period required to construct lines or other facilities
necessary to provide water or sewer service to your property. You are advised to determine if the
property is in a certificated area and contact the utility service provider to determine the cost that you
will be required to pay and the period, if any, that is required to provide water or sewer service to your
property. The undersigned purchaser hereby acknowledges receipt of the foregoing notice at or before
(TXR-1802) 07-08-22 Initialed for Identification by Seller_.:�, and 8U Page 12 of 15
McDougal REALTORS, 5001 W. Loop 299 Lubbock . TX 79414 Phon ( 793-0703 Fax' (g06)Sti9-0199 Untitled
Marc McDougal Produced with Lone Wolf Transactions (zipFonn Edition) 717 N Harwood St Suite 2200, atlas. TX 75201 www.hvolf.com
Commercial Contract - Unimproved Property concerning
3 parcels north of the alley north of Marshall St.,
between Slide Road and N. Abbeville Ave
the execution of a binding contract for the purchase of the real property described in the notice or at
closing of purchase of the real property." The real property is described in Paragraph 2 of this contract.
D. If the Property adjoins or shares a common boundary with the tidally influenced submerged lands of
the state, §33.135 of the Texas Natural Resources Code requires a notice regarding coastal area
property to be included as part of this contract (the Addendum for Coastal Area Property (TXR-1915)
may be used).
E. If the Property is located seaward of the Gulf Intracoastal Waterway, §61.025, Texas Natural
Resources Code, requires a notice regarding the seaward location of the Property to be included as
part of this contract (the Addendum for Property Located Seaward of the Gulf Intracoastal Waterway
(7XR-1916) maybe used).
F. If the Property is located outside the limits of a municipality, the Property may now or later be included
in the extra -territorial jurisdiction (ETJ) of a municipality and may now or later be subject to annexation
by the municipality. Each municipality maintains a map that depicts its boundaries and ETJ. To
determine if the Property is located within a municipality's ETJ, Buyer should contact all municipalities
located in the general proximity of the Property for further information.
G. Brokers are not qualified to perform property inspections, surveys, engineering studies, environmental
assessments, or inspections to determine compliance with zoning, governmental regulations, or laws.
Buyer should seek experts to perform such services. Buyer should review local building codes,
ordinances and other applicable laws to determine their effect on the Property. Selection of experts,
inspectors, and repairmen is the responsibility of Buyer and not the brokers. Brokers are not qualified
to determine the credit worthiness of the parties.
H. NOTICE OF WATER LEVEL FLUCTUATIONS: If the Property adjoins an impoundment of water,
including a reservoir or lake, constructed and maintained under Chapter 11, Water Code, that has a
storage capacity of at least 5,000 acre-feet at the impoundment's normal operating level, Seller hereby
notifies Buyer: "The water level of the impoundment of water adjoining the Property fluctuates for
various reasons, including as a result of: (1) an entity lawfully exercising its right to use the water stored
in the impoundment; or (2) drought or flood conditions."
I. PUBLIC IMPROVEMENT DISTRICTS: If the Property is in a public improvement district, Seller is
required by §5.014, Property Code to give Buyer a written notice concerning the obligation to pay
assessments. The form of the required notice is available as a part of the Notice of Obligation to Pay
Improvement District Assessment (TXR-1955).
LICENSE
party to a
the licens
e
al is a broker.
>tate license holder who is a
;hild, business entity in which
the license holder acts as a
spouse, parent or child is a
a contract of sale. Disclose if
26. CONTRACT AS OFFER: The execution of this contract by the first party constitutes an offer to buy or sell
the Property. Unless the other party accepts the offer by 5:00 p.m., in the time zone in which the Property
is located, on March 3, 2023 , the offer will lapse and become null and void.
(TXR-1802) 07-08-22 Initialed for Identification by Sellers and Buy r Page 13 of 15
McDougal REALTORS.5001 W. Loop 289 Lubbock, TX 79414 Phone: ( 7 703 Fax (806)5g9.0199 Untitled
Mare McDougal Produced with Lone Wolf Transactions (zipFonn Edition) 717 N Harwood St, Suite 2200, as, TX 75201 www.lwolf.00m
Commercial Contract - Unimproved Property concerning
3 parcels north of the alley north of Marshall St.,
between Slide Road and N. Abbeville Ave
READ THIS CONTRACT CAREFULLY. The brokers and agents make no representation or
recommendation as to the legal sufficiency, legal effect, or tax consequences of this document or
transaction. CONSULT your attorney BEFORE signing.
Seller: Buyer:
NWP EB-5 Project, LLC City of Lubbock, Texas
Z (-A
By: _ By:
By (signature): A By (signature):
Printed Name: .9" Printed Name:
Title:R.. Title:
By: By:
By (signature): By (signature):
Printed Name: Printed Na
Tray Payne
Title: Title:
(TXR-1802) 07-08-22 Page 14 of 15
McDougal REALTORS, 5001 W. Loop 289 Lubbock TX 79414 Phone (806)793-0703 Fax* (806)589-0199 Untitled
Marc McDoagal Produced with Lone Wolf Transactions (zipForm Edition) 717 N Harwood St. Suite 2200. Dallas TX 75201 www.lwolf.00m
Commercial Contract -Unimproved Property concerning
3 parcels north of the alley north of Marshall St.,
between Slide Road and N. Abbeville Ave
AGREEMENT BETWEEN BROKERS
(use only if Paragraph 9B(1) is effective)
Tee -when the T � Gf SM4�-Sis meeived. The 7e!0, be Patd4 i' Z71 oker vvg e-
T},,..� 76 '�f the T T�7JI �+ .,_ �r�Te�B+. p�p�' p,, dry': sue,.,
TTrC". is-�r7zed e� pe V-C,+'eo!'�" i P Okef ft l� fWncO'EA ��s -1ae at -dosing.
T#i:s AgT-et1rrfeiA BeNoeen BmRer$. _ f-offers. arm awla�S.fof J:ompeFi$si~ton between
bfekere.
Princi Bmkev £Qopes jng &0ker:
s att8>=rieq`:
>�dc#ress:
Phone &fax,
E- naiH
ATTOR-NEYS
Bwer-'s attomey-
Address:
Phone& fax:
E-mail:
ESCROW RECEIPT
The title company acknowledges receipt of:
A. the contract on this day (effective date);
B. earnest money in the amount of $ in the form of
on
Title company: Address:
By: Phone & Fax:
Assigned file number (GF#): E-mail:
(TXR-1802) 07-08-22 Page 15 of 15
McDougal REALTORS, 5001 W. Loop 289 Lubbock, TX 79414 Phone (M6)793-0703 Fax: (N6)589-0199 Untitled
Marc McDougal Produced with Lone Wolf Transactions (zipForm Edition) 717 N Harwood St, Suite 2200 Dallas. TX 75201 www-lwof.com
NOTES:
SCALE: I"-50t
HEAVY LINES INDICATE PLAT LMTS.
CONTROL MONI WNTS AS FOUND AND SHQWN.
OAFOUND
I/tZI�TCN ROD WITH CAP RA
PERIMETER SURVEY OF A 0.0812 ACRE TRACT
LOCATED IN THE SOUTHWEST QUARTER OF
SECTION 5, BLOCK JS
E. L. & R. R. RAILROAD COMPANY SURVEY
LUBBOCK COUNTY, TEXAS
318.3 Acre PLrent rroct
cow"lo
7 HEST �UOFT
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0.0812 Acre Tract (3,335 Sq. F1.)
228.93 aEa reoEsrnL pp
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HUGO REED
AND ASSOCIATES. INC.
MARSHALL LAND SURVEYORS AVENUE N
STREET CIVIL ENGINEERS LUBBOCKI: M01
Ta:1(Aj UCENlifiD [N11LVEvpp ruin laosrbao PHONE: 8081 783-8842
TaXAS aa:asTfffl" tma praw F700 FAX: M1783S881
ight
ByAb! L1 604riE05 use afTitk Co.
furrGF a and023, gay Ham deaalkn aAkMcd in thc ccrtofnto dawn boom.
Exhibit A-1
METES AND BOUNDS DESCRIPTION of a 0.0912 acre tract out of a 318.3 acre tract described under County Clerk File
No. 2021019386 of the Official Public Records of Lubbock County, Texas, located in the Southwest Quarter of Section 5,
Block JS, E. L. & R. R. Railroad Company Survey, Lubbock County, Texas, said 0.0812 acre tract being further described as
follows:
BEGINNING at a 1/2" iron rod with cap marked "HUGO REED & ASSOC" ("HRA") found for the Northwest comer of this
tract, which bears S. 88°08'58" E. a distance of 176.20 feet and S. 01051'02" W. a distance of 34.88 feet from a 112" iron rod
with cap marked "HRA" found at the Northwest corner of the Southwest Quarter of Section 5, Block JS, E. L. & R. R.
Railroad Company Survey, Lubbock County, Texas;
THENCE S. 88008'27" E. a distance of 238.91 feet to a 1/2" iron rod with cap marked "HRA" found in the West right-of-way
line of North Slide Road as described under County Clerk File No. 2012043730 of the Official Public Records of Lubbock
County, Texas, at the Northeast corner of this tract;
THENCE S. 01046'06" W., along said West right-of-way line, a distance of 15.00 feet to a 112" iron rod with cap marked
"HRA" found in the North line of a 20 Public Alley dedicated by plat recorded under County Clerk File No. 2006045605 of
the Official Public Records of Lubbock County, Texas, at the Southeast comer of this tract;
THENCE N. 88"08'27" W., along said North Alley line, a distance of 228.93 feet to a 112" iron rod with cap marked "HRA"
found at the most Southerly Southwest corner of this tract;
THENCE N. 43008*27" W., continuing along said North Alley line, a distance of 14.14 feet to a 1/2" iron rod with cap marked
"HRA" found at the most Westerly Southwest comer of this tract;
THENCE N. 01 04932" E. a distance of 5.00 feet to the Point of Beginning.
Contains: 3,535 square feet.
Bearings are relative to Grid North, Texas Coordinate System of 1983, North-Central Zone, 2011 (epoch 2010.0). Distances
are Surface, U.S. Survey Feet.
TITLE COMMITMENT
No abstract of title or title commitment was provided to this surveyor. Record research done by this surveyor was made
only for the purpose of determining the boundary of this property and of the adjoining parcels. Record documents other than
those shown on this survey may exist and encumber this property.
This survey and all information hereon is for the exclusive use of The City of Lubbock and shall not be copied or used
except for the purpose for which it is expressly furnished.
Surveyed on the ground.
January 4, 2023
OF T
on 0
Cyril H. Turner r(.,Y-.--
s r f,�•.�-(�
Registered Professional Land Surveyor No. 6460 State ofTexas WAPM TU ERN Remail: ctumer@hugoreed.comsaso
200257DAW tSDT)
PERIMETER SURVEY OF A 0.9674 ACRE TRACT LOCATED IN
SECTIONS 5 & 6, BLOCK JS
E. L. & R. R. RAILROAD COMPANY SURVEY N
LUBBOCK COUNTY. TEXAS
3 Acre Pent TractI
�'Q%Yc112A9/9386 �� j"�
► � ► ys of
POINT OF BEGINNING ' EA�I
SWTittF METS THE NORTHWEST CORNER OF THE ` 'oia�iJo
7 TgE�R OF SECTION BLOCK JS o `d ,
t ► 3dOit&wW`it7 v"WEA^ itENT RTER OF SECTION C OLOq(Ogs T � eEZECTIPC 714ANS6151SM W
► ► Wei 10'WA7ERLJWEASSMET
+I �1EI1°CiPARYCR WAWEASSNOff an%2006045W W. /m /p. 687
44.
L osrose / 0719.63' 120.14' - - ---- - - — _ _ __-1 0.9674 Acre Trac2i t _ _ --- - - - - - °---- - - -
42.139 Sq. Ft.
I I 1— —T —7 —T I10.101'i,So
552 55/ 550 549 1 548 547 546 545 544 543 542 54/
W N O T 540 539
WWC 9 --�
.�. MARSHALL STREET
z =p=
I
NOTES: ��
SCALE: l -IOo
HEAVY LINES VOICATE PLAT LIMITS.
CONTROL MONUMENTS AS FOUND MOWN.
A - OUPD_IRON RODROD S VNTH CAP A A"
20222570/Bob(SDT)
I HUGO REED I
AND ASSOCIATES. INC.
Copy ftM 2023. Hop Read and Assaeiwm. Inc. for the tole use of Tole Co.
for GF K aW wry other tdourim as mdmW in the eandicate shown heraon
yi
METES AND BOUNDS DESCRIPTION of a 0.9674 acre tract out of a 318.3 acre tract described under County Clerk File
No. 2021019386 of the Official Public Records of Lubbock County, Texas, located in the Southwest Quarter of Section 5 and
the Southeast Quarter of Section 6, Block JS, E. L. & R. R. Railroad Company Survey, Lubbock County, Texas, said 0.9674
acre tract being fluther described as follows:
BEGINNING at a 1/2" iron rod with cap marked "HUGO REED & ASSOC" ("HRA") found in the North line of a Temporary
Drainage Easement described under County Clerk File No. 2006045185 of the Official Public Records of Lubbock County,
Texas, at a point of intersection, which is the Northwest corner of the Southwest Quarter of Section 5, same being the
Northeast comer of the Southeast Quarter of Section 6, Block JS, E. L. & R. R. Railroad Company Survey, Lubbock County,
Texas;
THENCE S. 88008'58" E., along the North line of said Temporary Drainage Easement and the North line of said Southwest
Quarter of Section 5, Block JS, a distance of 120.14 feet to a 1/2" iron rod with cap marked "HRA" set for the Northeast
comer of this tract;
THENCE S. 01°4932" W. a distance of 39.79 feet to a 1/2" iron rod with cap marked "HRA" set in the North line of a 20 foot
Public Alley dedicated by plat recorded under County Clerk File No. 2006045605 of the Official Public Records of Lubbock
County, Texas, for the most Easterly Southeast comer of this tract;
THENCE S. 46°3558" W., along said North Alley line, a distance of 14.20 feet to a 1/2" iron rod with cap marked "HRA" set
for the most Southerly Southeast comer of this tract;
THENCE N. 88008'27" W., continuing along said North Alley line, a distance of 110.10 feet to a 1.2" iron rod with cap
marked "HRA" found at a point of intersection;
THENCE N. 88010'51" W., continuing along said North Alley line, a distance of 709.65 feet ( plat calls: 709.90 feet ) to a 1/2"
iron rod with cap marked "HRA" set for the most Southerly Southwest corner of this tract;
THENCE N. 4301619" W., continuing along said North Alley line, a distance of 14.15 feet to a 1/2" iron rod with cap marked
"HRA" found at the most Westerly Southwest corner of this tract;
THENCE N. 01 °49'32" E. a distance of 40.90 feet to a l '2" iron rod with cap marked "HRA" set in the North line of said
Temporary Drainage Easement and the North line of the Southeast Quarter of said Section 6, for the Northwest comer of this
tract;
THENCE S. 88°05'54" E., along the North line of said Temporary Drainage Easement and the North line of the Southeast
Quarter of said Section 6, a distance of 719.63 feet to the Point of Beginning.
Contains: 42,138 square feet.
Bearings are relative to Grid North, Texas Coordinate System of 1983, North-Central Zone, 2011 (epoch 2010.0). Distances
are Surface, U.S. Survey Feet.
TITLE COMMITMENT
No abstract of title or title commitment was provided to this surveyor. Record research done by this surveyor was made
only for the purpose of determining the boundary of this property and of the adjoining parcels. Record documents other than
those shown on this survey may exist and encumber this property.
This survey and all information hereon is for the exclusive use of The City of Lubbock and shall not be copied or used
except for the purpose for which it is expressly furnished.
Surveyed on the ground.
Jan ry 4, 2023
OF
�`'� G\Srf'T
yril H. Tamer
C1fRa. HOWMD TUI
«.«.....„........�
Registered Professional Land Surveyor
`9i�'�:
No. 6460 State of Texas
;S :°•'�
email: ctumer@hugoreed.com
SUR`
20220POOM (SDT)
PERIMETER SURVEY OF A 0.6472 ACRE TRACT
LOCATED IN THE SOUTHEAST QUARTER OF
SECTION 6, BLOCK JS
E. L. & R. R. RAILROAD COMPANY SURVEY
LUBBOCK COUNTY, TEXAS
3/8.3 Acre Pdrt7t Tr, Ct
POINT OF BEGINNTHS ING
°W 771.63'
TOF S h]tl} is. OF TFIE SOU7? T
h)F SECTION 6.8LOp( J$
EASE dwr cow
m
-- , �' =1 0_6472 Acre Tract - --- �Cm
Aft ftf Pb_—79,1`92 S'q. Ft.-
N88°IO I ro'Aary &p& amv 539.Se -
I �� —T 1 o0c r�
PTO 271
272 1 561 560 559 558 557 556 55
AV 15 554OR H
553
Abf cow p IN
& 'Pgt MY
MARSHALLBr ftf COW avw4olrags STREET
I
I
I
NOTES:
SCALE: I"-100'
HEAVY LINES INDICATE PLAT LIMITS.
CONTROL MONUMENTS AS FOUND MOWN.
O- SET I FJON ROD WITH CAP ' A
- FOUND dam' IRO, ROD WRH CAP A"
®- FOUND CROSS CUT IN CONCRETE
20222570/Bob(SDT)
ml
d?'OYh vCv POIIER "wz& EAFvr
Val. f0ax Pt a --,
Q
552 551 550
W
W�
HUGO REED
AND ASSOCIATES. INC.
1006784M PHONE:
copyright 2023. Hugo Reed and Anoeiates. Inc. for the sole ttso of Title Co.
for GF 4 wd any other tdemirtets as indicated in the ccrtdleu¢ drown hereon
METES AND BOUNDS DESCRIPTION of a 0.6472 acre tract out of a 318.3 acre tract described under County Clerk File
No. 2021019386 of the Official Public Records of Lubbock County, Texas, located in the Southeast Quarter of Section 6,
Block JS, E. L. & R. R. Railroad Company Survey, Lubbock County, Texas, said 0.6472 acre tract being further described as
follows:
BEGINNING at a 1/2" iron rod with cap marked "HUGO REED & ASSOC" ("HRA") set in the North line of a Temporary
Drainage Easement described under County Clerk File No. 2006045185 of the Official Public Records of Lubbock County,
Texas, same being the North line of the Southeast Quarter of said Section 6, for the Northeast corner of this tract, which bears
N. 88009'54" W. a distance of 771.63 feet from a 1/2" iron rod with cap marked "HRA" found at the Northeast corner of the
Southeast Quarter of said Section 6, Block JS;
THENCE S. 0104932" W. a distance of 40.98 feet to a point in the North line of a 20 Public Alley dedicated by plat recorded
under County Clerk File No. 2006045605 of the Official Public Records of Lubbock County, Texas, at the most Easterly
Southeast comer of this tract;
THENCE S. 46048'31" W., along said North Alley line, a distance of 14.12 feet to a 1/2" iron rod with cap marked "HRA" set
for the most Southerly Southeast corner of this tract;
THENCE N. 88010'51" W., continuing along said North Alley line, a distance of 539.92 feet to a 1'2" iron rod with cap
marked "HRA" set for the Northwest comer of said Alley in the East line of a 10 foot Public Alley dedicated by plat recorded
in Volume 9847, Page 138 of the Official Public Records of Lubbock County, Texas, for the Southwest comer of said
Temporary Drainage Easement and this tract;
THENCE N. 01°50'07" E., along said East Alley line, the Eastern boundary of Tract D, Lynnwood Addition to the City of
Lubbock, Lubbock County, Texas, according to the map, plat and/or dedication deed thereof recorded in Volume 9847, Page
138 of the Official Public Records of Lubbock County, Texas, and the West line of said Temporary Drainage Easement, at
50.00 feet pass a 1/2" iron rod with cap marked "HRA" found at the Northeast corner of said Tract D, in all a total distance of
51.76 feet to a 1/2" iron rod with cap marked "HRA" set in the North line of said Temporary Drainage Easement and the
North line of the Southeast Quarter of said Section 6, for the Northwest corner of this tract;
THENCE S. 88005'54" E., along the North line of said Temporary Drainage Easement and the North line of the Southeast
Quarter of said Section 6, a distance of 549.89 feet to the Point of Beginning.
Contains: 28,192 square feet.
Bearings are relative to Grid North, Texas Coordinate System of 1983, North-Central Zone, 2011 (epoch 2010.0). Distances
are Surface, U.S. Survey Feet.
TITLE COMMITMENT
No abstract of title or title commitment was provided to this surveyor. Record research done by this surveyor was made
only for the purpose of determining the boundary of this property and of the adjoining parcels. Record documents other than
those shown on this survey may exist and encumber this property.
This survey and all information hereon is for the exclusive use of The City of Lubbock and shall not be copied or used
except for the purpose for which it is expressly furnished.
Surveyed on the ground.
January 4, 2023
of Me
:' q- R�o9
CYRIL HOWARD TURNER
Cyril H. Turner
Registered Professional Land Surveyor �y :°Ffss�Ot
No. 6460 State of Texas 000000,
rn email: ctuer@hugoreed.com
zo s70AM tsuTI
PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC) 11-08-2021
TRECADDENDUM CONTAINING NOTICE OF OBLIGATION 12t
TO PAY IMPROVEMENT DISTRICT EQUAL WOUSING
TEXAS REAL ESTATE COMMISSION ASSESSMENT TO Lubbock , TEXAS oarclmrMm
(insert name of municipality or county levying assessment)
CONCERNING THE FOLLOWING PROPERTY
3 parcels north of the alley north of Marshall St., between Slide Road and N. Abbeville Ave
(insert property address)
As the purchaser of the real property described above, you are obligated to pay assessments to
Lubbock , Texas, for the costs of a portion of a public improvement or
(insert name of municipality or county, as applicable)
services project (the "Authorized Improvements") undertaken for the benefit of the property within
North Pointe PI❑ Wor NWP PID (the "District") created under Subch tr A Chat 372 LGC
(insert name of public improvement district) (insertSu chapter A, Chapter 372, Local
Government Code, or Chapter 382, Local Government Code, as applicable)
AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE AUTHORIZED
IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF THE ASSESSMENT IS NOT PAID IN
FULL, IT WILL BE DUE AND PAYABLE IN ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR
DEPENDING ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE COSTS, AND
DELINQUENCY COSTS.
The exact amount of the assessment may be obtained from Lubbock, Texas
(insert name of municipality or county, as applicable)
The exact amount of each annual installment will be approved each year by Lubbock City Council
(insert name of city council or county
in the annual service plan update for the district. More information about
commissioners court, as applicable)
the assessments, including the amounts and due dates, may be obtained from Lubbock, Texas
insert name of municipality
or county, as applicable)
Your failure to pay any assessment or any annual installment may result in penalties and interest
being added to what you owe or in a lien on and the foreclosure of your property.
Signature of Seller Date Signature of Seller Date
The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for
the purchase of the real property at the address described above.
Signat uyer Date Signofure of Buyer Date
This form has been approved by the Texas Real Estate Commission for use with similarly approved or
promulgated contract forms. Such approval relates to this form only. TREC forms are intended for use
TREConly by trained real estate license holders. No representation is made as to the legal validity or
adequacy of any provision in any specific transactions. It is not suitable for complex transactions.
Texas Real Estate Commission, P.O. Box 12188, Austin, TX 78711-2188, (512) 936-3000 (http://
TEXAS REAL ESTATE COMMISSION www.irec.texas.gov) TREC No. 53-0.
TXR 1955 TREC No. 53-0
McDougal REALTORS,1500 Broadway, Suite 1500 Lubbock TX 79401 Phone: 8067930703 Fax: 8N5890199 Untitled
Donna Combs Produced with Lone Wolf Transactions (zipFonn Edition) 231 Shearson Cr. Cambridge. Ontario. Canada NIT 1 J5 www.twotf.com