HomeMy WebLinkAboutResolution - 2014-R0380 - Amendment To Contract Of Sale - Omni Office Inc. - 11/06/2014Resolution No. 2014.80380
Item No. 7.7
November 6, 2014
RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the City Manager of the City of Lubbock is hereby authorized and directed to
execute for and on behalf of the City of Lubbock, an amendment to that certain Contract of Sale
between the City of Lubbock, Texas and Lubbock Omni Office, Inc., dated July 10, 2014 and
passed by the City Council of the City of Lubbock by Resolution No. 2014-RO240, and related
documents. Said amendment is attached hereto as Exhibit "A" and incorporated in this
resolution as if fully set forth herein, and shall be included in the minutes of the City Council.
by the City Council on November 6 2014
GL .ROBERTSON,/MAYOR
ATTEST:
Rebec a Garza, City Secre ry
AP OVED AS TO CONTENT:
amc Loomis, City Manager
APPROVED AS TO FORM:
Attorney
RES.Amend.Contmet of Sale -Lubbock Omni Office
11.6.14
COPY
AMENDMENT TO CONTRACT
EXHIBIT
s �
This Amendment to Contract ("Amendment") is entered into on this, the day of November,
2014, by and between the City of Lubbock, Texas (the "City"). by and through James Loomis, City Manager,
and Lubbock Omni Office, Inc. ("Lubbock Omni'), together as parties to that certain Contract of Sale dated
July 10, 2014 (hereinafter referred to as the "Contract"). City and Lubbock Omni may also be referred to
individually as a "Party,' or collectively as the "Parties."
WHEREAS, Section 9.03 of the Contract provides that the Contract may be amended by a writing
executed by the Parties;
WHEREAS, the Parties have negotiated and agreed that the description of the Property as set forth
in the Contract should be revised not to include "Tract IV" in the property to be purchased, and further wish
to amend the Contract accordingly; and
WHEREAS, the Parties agree that as a result of the revised description of the Property, certain
other terms of the Contract should be adjusted, including the purchase price; and
WHEREAS, the Parties agree that all other terms and conditions of the Contract, except as
modified hereby, and conforming changes necessitated by this Amendment, shall remain unaffected.
THEREFORE, the Parties, for ten dollars and other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, along with the mutual promises contained herein, do
agree to amend and do amend the Contract as follows:
1. All references to "Tract IV" of the Property contained in Exhibits "A' "B" "C' and "D" to the
Contract, along with references to "Tract IV" contained in any ancillary exhibits thereto, are
deleted from the Contract, Any conforming amendments required as a result of this deletion
shall also be made.
2. Section 2.01(a) of the Contract is deleted in its entirety, and replaced with the following:
"Except as provided in Section 2.01(b), below, the purchase price to be paid to Seller for the
Property is the amount of One Million, Two Hundred Thousand and No/100 Dollars
($1,200,000.00)."
3. Section 2.01(b) of the Contract is deleted in its entirety, and replaced with the following:
"In the event, and only in the event. Buyer exercises its rights to extend the Absolute Review
Period, as provided in Section 4.01(b), below, the purchase price to be paid Seller for the
Property shall be the amount of One Million, Two Hundred Twenty -Five Thousand and No/100
Dollars ($1.225,000.00)."
The undersigned Parties agree that, except as amended expressly hereby, the Contract, its
exhibits, attachments, and schedules shall be completely incorporated herein for all purposes, and shall
remain in full force and effect according to the terms expressed therein. The undersigned Parties further
agree that to the extent of any conflict between this Amendment and the Contract, its exhibits, attachments,
and/or schedules, the provisions and terms of this Amendment shall control.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
written above.
City of Lubbock:
A, h/, "',
M S LOOMIS, City Manager
Lubbock Omni:
Hung Nguyen, President
Lubbock Omni Office, Inc.
Amendment to Contract for Sale — Lubbock Omni Office, Inc. Page 1 of 2
ATTEST:
Rabe Gama, City Secret ry
APPR VED AS/T�OCONTENT:
Jam s Loomis, City Manager
A ROVED AS TO FO
ell Satterwhite, ' st Assistant City Attorney
Amendment to Contract for Sale — Lubbock Omnl Office, Inc. Page 2 of 2