HomeMy WebLinkAboutResolution - 2009-R0294 - Contract Of Sale - Lubbock County - Real Property - 08/04/2009Resolution No. 2009—RO294
August 4, 2009
Item No. 2.1
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 Contract of Sale for
certain real property described generally as a 15.327 acre tract out of Section 3, Block S,
Lubbock County, Texas, and all related documents. Said Contract of Sale 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 this 4th day of August , 2009.
ATTEST:
Rebecca►Garza, City Secretary
APPROVED AS TO CONTENT:
Dave Booher, Right -of -Way Agent
Adams, Deputy City Manager
APPROVED AS TO FORM:
Attorney
Svlvia Mollie Abbott -Contract of Sale res
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TOM MARTIN, MAYOR
Resolution No. 2009-R9294
SIV
TEXAS ASSOCIATION OF REALTORS`k,
COMMERCIAL CONTRACT - UNIMPROVED PROPERTY
USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORSO Is NOT AUTHORIZED
07exas Association of REALTORSO, Inc. 2005
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: Mollie Sylvia Abbott
Address: _W12 -79th Street, Lubbock, TX 79424
Phone: (80 6) 794-2799 Fax:
E-mail:
Buyer: City of Lubbock Texas
Address:1625-13th Street, Lubbock, Tx 79401
Phone: (806) 775-3000 Fax:
E-mail:
2. PROPERTY:
A. "Property" means that real property situated in Lubbock County, Texas at
(address) and that is legally described on the attached Exhibit A G+ -as fet+eww
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.)
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 ......................... $ 220 000.00
(2) Sum of all financing described in Paragraph 4 ...................... $ _ N/A
(3) Sales price (sum of 3A(1) and 3A(2)) ............................. $ 220,000.0
(TAR -1802) 10-18-05 Initialed for Identification by Buyer, and Seller %r_ Page 1 of 12
McQueen Co. 2741 -81st Street, Lubbock, TX 79423
Phone: 806 748-7106 Fax: 806 748-7102 McQueen Company, Realtors abbott.zfx
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Commercial Contract - Unimproved Property Concerning Approxinnately 15 Acres
B. Adiustment to Sales Price: (Check (9) or (2) only.)
0 (1) The sales price will not be adjusted based on a survey.
(2) The sales price will be adjusted based on the latest survey obtained under Paragraph 6B.
(a) The sales price is calculated on the basis of $ —
Ell (i) square foot of ❑ total area ❑ net area.
❑ (ii) acre of ❑ total area ❑ net area.
per:
(b) "Total area" means all land area within the perimeter boundaries of the Property. "Net area"
means total area less any area of the Property within-
❑ (i) public roadways;
I❑ (ii) rights-of-way and easements other than those that directly provide utility services to the
Property; and
❑ (iii)
(c) If the sales price is adjusted by more than % of the stated sales price, either party
may terminate this contract by providing written notice to the other party within days
after the terminating party receives the survey. If neither party terminates this contract or if the
variance is less than the stated percentage, the adjustment to the sales price will be made to the
cash portion of the sales price payable by Buyer.
4. FINANCING: Buyer will finance the portion of the sales price under Paragraph 3A(2) as follows:
A. Third PartV Financing One or more third party loans in the total amount of $
This contract:
❑ (1) is not contingent upon Buyer obtaining third party financing.
13(2) is contingent upon Buyer obtaining third party financing in accordance with the attached
Commercial Contract Financing Addendum.
❑ B. Assumption: In accordance with the attached Commercial Contract Financing Addendum, Buyer will
assume the existing promissory note secured by the Property, which balance at closing will be
$
❑ C. Seller Financing: The delivery of a promissory note and deed of trust from Buyer to Seller under the
terms of the attached Commercial Contract Financing Addendum in the amount of $
5. EARNEST MONEY:
A. Not later than 3 days after the effective date, Buyer must deposit $ 5.000. 00 as earnest
money with Lubbock Abstract
(escrow agent) at 1216 Texas Avenue Lubbock TX 79401
(address). If Buyer fails to timely deposit the earnest money,
Seller may terminate this contract by providing written notice to Buyer before Buyer deposits the
earnest money and may exercise Seller's remedies under Paragraph 15.
B. Buyer will deposit an additional amount of $ with the escrow agent to be made
part of the earnest money on or before:
❑ (i} days after Buyer's right to terminate under Paragraph 713 expires; or
Buyer will be in default if Buyer fails to deposit the additional amount required by this Paragraph 515
within 3 days after Seller notifies Buyer that Buyer has not timely deposited the additional amount.
C. Buyer may instruct the escrow agent to deposit the earnest money in an interest-bearing account at a
federally insured financial institution and to credit any interest to Buyer.
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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 Lubbock Abstract & Title (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:
❑ (a) will not be amended or deleted from the title policy.
0 (b) will be amended to read "shortages in areas" at the expense of 0 Buyer ❑ Seller.
(3) Buyer may object to any restrictive covenants on the Property within the time required under
Paragraph 6C.
(4) Within 15 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 30 days after the effective date:
W (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 Texas Society of Professional Surveyors'
standards for a Category 1A survey under the appropriate condition.
❑ (2) Seller, at Seller's expense, will furnish Buyer a survey of the Property dated after the effective date.
The survey must be made in accordance with the Texas Society of Professional Surveyors'
standards for a Category 1A survey under the appropriate condition.
❑ (3) Seller will deliver to Buyer and the title company a true and correct copy of Seller's existing survey
of the Property dated along with an affidavit required by the title
company for approval of the survey. If the survey is not acceptable to the title company, Seller, at
Seller's expense, will obtain a survey acceptable to the title company and deliver the acceptable
survey to the Buyer and the title company within 15 days after Seller receives notice that the
existing survey is not acceptable to the title company. The closing date will be extended daily up to
15 days if necessary for Seller to deliver an acceptable survey within the time required.
C. Buyer's Obiections to the Commitment and Survey:
(1) Within 10 days after Buyer receives 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 constitute a defect or encumbrance to title other than those
permitted by this contract or liens that Seller will 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 "V"
zone as defined by FEMA). If Paragraph 6B(1) applies, Buyer is deemed to receive the survey on
the earlier of: (i) the date of Buyer's actual receipt of the survey; or (ii) of the deadline specified in
Paragraph 6B.
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Commercial Contract - Unimproved Property Concerning Approximately 15 Acres
(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:
B. Feasibility Period: Buyer may terminate this contract for any reason within 45 days after the
effective date (feasibility period) by providing Seller written notice of termination. (Check only one box.)
W(l) If Buyer terminates under this Paragraph 7B, the earnest money will be refunded to Buyer less
$ 100-00 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 escrow agent. 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 7B(1) or if Buyer fails to timely deposit the earnest money, Buyer will not have the right to
terminate under this Paragraph 7B.
❑ (2) Not later than 3 days after the effective date, Buyer must pay Seller $ as
independent consideration for Buyer's right to terminate by tendering such amount to Seller or
Seller's agent. If Buyer terminates under this Paragraph 713, the earnest money will be refunded to
Buyer and Seller will retain the independent consideration. The independent consideration will be
credited to the sales price only upon closing of the sale. If no dollar amount is stated in this
Paragraph 7B(2) or if Buyer fails to timely pay the independent consideration, Buyer will not have
the right to terminate under this Paragraph 7B.
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
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Buyer's inspections, studies, or assessments, including any property damage or personal injury.
matter for vvhieh B y . is —sponsible under this porn This paragraph survives
termination of this contract.
D. Property Information:
(1) Delive of Property Information: Within 10 days after the effective date, Seller will deliver to
Buyer:
M (a) copies of all current leases pertaining to the Property, including any modifications, supplements,
or amendments to the leases;
21 (b) copies of all notes and deeds of trust against the Property that Buyer will assume or that Seller
will not pay in full on or before closing;
• (c) copies of all previous environmental assessments, geotechnical reports, studies, or analyses
made on or relating to the Property;
® (d) copies property tax statements for the Property for the previous 2 calendar years;
❑ (e) plats of the Property;
❑ (f) copies of current utility capacity letters from the Property's water and sewer service provider;
and
❑ (g)
(2) Return of Property Information: If this contract terminates for any reason, Buyer will, not later than
10 days after the termination date: (a) return to Seller all those items described in Paragraph 7D(1)
that Seller delivered to Buyer and all copies that Buyer made of those items; and (b) deliver 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. Each written lease Seller is to assign to Buyer under this contract must be in full force and effect
according to its terms. Seller may not enter into any new lease, fail to comply with any existing lease, or
make any amendment or modification to any existing lease without Buyer's written consent. Seller must
disclose, in writing, if any of the following exist at the time Seller provides the leases to the Buyer or
subsequently occur before closing:
(1) any failure by Seller to comply with Seller's obligations under the leases;
(2) any circumstances under any lease that entitle the tenant to terminate the lease or seek any offsets
or damages;
(3) any advance sums paid by a tenant under any lease;
(4) any concessions, bonuses, free rents, rebates, brokerage commissions, or other matters that affect
any lease; and
(5) any amounts payable under the leases that have been assigned or encumbered, except as security
for loan(s) assumed or taken subject to under this contract.
B. Estoppel Certificates: Within N/A days after the effective date, Seller will deliver to Buyer estoppel
certificates signed not earlier than by each tenant that leases space
in the Property. The estoppel certificates must state:
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(1) that no default exists under the lease by the landlord or tenant as of the date the estoppel certificate
is signed;
(2) the amount of the scheduled rents to be paid through the end of the lease and any rental payments
that have been paid in advance;
(3) the amount of any security deposit,
(4) the amount of any offsets tenant is entitled against rent;
(5) the expiration date of the lease;
(6) a description of any renewal options; and
(7)
9. BROKERS:
A. The brokers to this sale are:
McQueen Co., REALTORS
Cooperating Broker License No. Principal Broker 87056 License No.
2741 -81st Street
Address Address
Lubbock Tx 79423
(806) 748--7100 (806) 748-7100
Phone Fax Phone Fax
E-mail: E-mail: mccgcol@suddenlink.net
Cooperating Broker represents buyer. Principal Broker: (Check only one box.)
0 represents Seller only.
ID represents Buyer only.
❑ is an intermediary between Seller and Buyer.
B. Fees. (Check only one box.)
❑ (1) Seller will pay Principal Broker the fee specified by separate written commission agreement
between Principal Broker and Seller. Principal Broker will pay Cooperating Broker the fee specified
in the Agreement Between Brokers found below the parties' signatures to this contract.
IM (2) At the closing of this sale, Seller will pay:
Cooperating Broker a total cash fee of: Principal Broker a total cash fee of:
❑ % of the sales price. �d 6.000 % of the sales price.
The cash fees will be paid in Lubbock County, Texas. Seller authorizes
escrow agent to pay the brokers from the Seller's proceeds at closing.
NOTICE: Chapter 62, Texas Property Code, authorizes a broker to secure an earned commission
with a lien against the Property.
C. The parties may not amend this Paragraph 9 without the written consent of the brokers affected by the
amendment.
10. CLOSING:
A. The closing of the sale will be on or before 1.5 days after completion of feasibility
study or within 7 days after
objections made under Paragraph 6C have been cured or waived, whichever date is later (the closing
date).
B. If either party fails to close by the closing date, the non -defaulting party may exercise the remedies in
Paragraph 15.
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C. At closing, Seller will execute and deliver, at Seller's expense, a ® general D 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 escrow agent stating that Seller is not a foreign person or, if Seller is a
foreign person, a written authorization for the escrow agent to: (i) withhold from Seller's proceeds an
amount sufficient to comply 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 escrow agent;
(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, 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: (identify exhibit if special provisions are contained in an attachment.)
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13. SALES EXPENSES:
A. Seller's Expenses: Seller will pay for the following at or before closing.-
(1)
losing:(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 changes the use of the Property before closing or if a denial of a special
valuation on the Property claimed by Seller 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 may:
(1) terminate this contract and receive the earnest money as liquidated damages, thereby releasing the
parties from this contract; or
(2) enforce specific performance, or seek other relief as may be provided by law, or both.
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B. If, without fault, Seller is unable within the time allowed to deliver the estoppel certificates, survey, or
commitment, Buyer may:
(1) terminate this contract and receive the earnest money, less any independent consideration under
Paragraph 713(1), as the 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 713(1), as liquidated damages, thereby releasing the parties from this contract; or
(2) enforce specific performance, or seek such other relief as may be provided by Paw, or both.
16. CONDEMNATION: If before closing, condemnation proceedings are commenced against any part of the
Property, Buyer may.-
A.
ay: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 713(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 any escrow agent 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.
B. If both parties make written demand for the earnest money, escrow agent may require payment of
unpaid expenses incurred on behalf of the parties and a written release of liability of escrow agent from
all parties.
C. If one party makes written demand for the earnest money, escrow agent will give notice of the demand
by providing to the other party a copy of the demand. If escrow agent does not receive written objection
to the demand from the other party within 15 days after the date escrow agent sent the demand to the
other party, escrow agent may disburse the earnest money to the party making demand, reduced by the
amount of unpaid expenses incurred on behalf of the party receiving the earnest money and escrow
agent may pay the same to the creditors.
D. Escrow agent will deduct any independent consideration under Paragraph 7B(1) before disbursing any
earnest money to Buyer and will pay the independent consideration to Seller.
E. If escrow agent complies with this Paragraph 18, each party hereby releases escrow agent from all
claims related to the disbursal of the earnest money.
F. Notices under this Paragraph 18 must be sent by certified mail, return receipt requested. Notices to
escrow agent are effective upon receipt by escrow agent.
19. MATERIAL FACTS: To the best of Seller's knowledge and belief: (Check only one box. )
I3 A. Seller is not aware of any material defects to the Property except as stated in the attached Property
Condition Statement.
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Ol 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, or sent by 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.
❑ A. 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.
B. This contract is to be construed in accordance with the laws of the State of Texas.
C. This contract contains the entire agreement of the parties and may not be changed except in writing.
D. If this contract is executed in a number of identical counterparts, each counterpart is an original and all
counterparts, collectively, constitute one agreement..
E. Addenda which are part of this contract are: (Check all that apply.)
tRI (1) Property Description Exhibit identified in Paragraph 2;
❑ (2) Commercial Contract Financing Addendum;
❑ (3) Commercial Property Condition Statement;
❑ (4) Notice to Purchaser of Real Property in a Water District (MUD);
❑ (5) Addendum for Coastal Area Property-,
❑ (6) Addendum for Property Located Seaward of the Gulf Intracoastal Waterway; and
❑ (7)
(Note: Counsel for the Texas Association of REALTORS@ (TAR) has determined that any of the foregoing addenda which are promulgated by
the Texas Real Estate commission (TREC) or published by TAR are appropriate for use with this form.)
(TAR -1802) 10-18-05 Initialed for Identification by Buyer, and Sellerw-154-1-- Page 10 of 12
Produced with bpFormG by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zioLoQix.com abbottffx
Commercial Contract - Unimproved Property Concerning Approximately 15 Acres
F. Buyer ❑ may 0 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
legal holiday, the time for performance is extended until the end of the next day which is not a Saturday,
Sunday, or legal holiday.
24. EFFECTIVE DATE: The effective date of this contract for the purpose of performance of all obligations is
the date the escrow agent receipts this contract after all parties execute this contract.
25. 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
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.
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.
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. Selection of inspectors and repairmen is the
responsibility of Buyer and not the brokers.
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 Aucrust 5 2009 , the offer will lapse and become null and void.
(TAR -1802) 10-18-05 Initialed for Identification by Buyer -46—, and Sellerf Page 11 of 12
Produced with ZipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 46026 www.zipLogix.com abbott.zfx
Commercial Contract - Unimproved Property Concerning Approximately 15 Acres
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.
Buyer:
By:
Printed Name:
Title:
Buyer:
By:
Printed Name:
Title:
Seller:
By:
Printed Name:
Title:
Seller:
By:
Printed Name:
Title:
AGREEMENT BETWEEN BROKERS
Principal Broker agrees to pay (Cooperating Broker) a
fee of $ or % of the sales price when the Principal Broker's fee is
received. Escrow agent is authorized and directed to pay Cooperating Broker from Principal Broker's fee at
closing. This Agreement Between Brokers supersedes any prior offers and agreements for compensation
between brokers.
Cooperating Broker Principal Broker
By: By
ATTORNEYS
Buyer's attorney is: Seller's attorney is:
Name: Name:
Address: Address:
Phone & Fax: Phone &'Fax:
E-mail: E-mail:
Buyer's attorney requests copies of documents, Seller's attorney requests copies of documents,
notices, and other information: notices, and other information:
❑ the title company sends to Buyer. ❑ the title company sends to Seller.
❑ Seller sends to Buyer. ❑ Buyer sends to Seller.
Escrow agent acknowledges receipt of:
❑ A. the contract on this day
Li B. earnest money in the amount of $
on
ESCROW RECEIPT
(effective date);
in the form of
Escrow Agent: Lubbock Abstract Address: 1215 Texas Avenue
Lubbock, Tx 79401
By
Phone & Fax:
E-mail:
(TAR -1802) 10-18-05 Page 12 of 12
Produced with ZipForm& by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLo4ix.com abbott.Ax
Executed this 4th day of August , 2009
TQM MARTIN, MAYOR
ATTEST:
Q-A-e�� �"�
Rebec4 Garza, City Secretary
APPROVED AS TO CONTENT:
Dave Booher,
Right -of -Way
city
Signature 7.31.09
091104
City of Lubbock Only
Resolution No. 2009-80294
HUGO REED AND ASSOCIATES, INC,
1601 Avenue N 1 Lubbock, Texas 79401 18061783-58421 FAX 8061783-3881
y}L, EXHIBIT
3 ♦t 't
3331!
METES AND BOUNDS DESCRIPTION of a portion of Tract 7, S. 1. Johnson Subdivision of a part of Section 4,
Block B, Sections I, 2, 3, & 4, Block S and Section 23, Block E, Lubbock, Texas, according to the map, plat and/or
dedication deed thereof recorded in Volume 59, Page 354, Deed Records of Lubbock County, Texas, being that same
tract described in Volume 4113, Page 132 of the Real Property Records of Lubbock County, Texas, being further
described as follows:
BEGINNING at a'/z" iron rod with cap set for the Northwest corner of said Tract 7 and the Northwest corner of this
tract which bears S. 89°17'25" W. a distance of 1056.70 feet from a Ih" iron rod with cap set for the Northeast corner
of Section 3, Block S, Lubbock County, Texas;
THENCE N. 89°17'25" E., along the North line of said Section 3 and the North line of said Tract 7, a distance of
877.70 feet to a'/2" iron rod with cap set for the Northwest corner of a 4.428 acre tract described in Volume 1138, Page
249 of the Deed Records of Lubbock County, Texas and Northeast corner of this tract;
THENCE S. 00042'35" E., along the West line of said 4.428 acre tract, at 37.50 feet pass a'/2" iron rod with cap set in
reference, continuing for a total distance of 648.70 feet to a 1/2" iron pipe found in the North right-of-way line of Loop
289 as described in Volume 687, Page 615 of the Deed Records of Lubbock County, Texas, at the Southwest corner of
said 4.428 acre tract and the Southeast corner of this tract;
THENCE Southwesterly, along said North right-of-way line, around a curve to the right, said curve having a radius of
3669.83 feet, a central angle of 14°02'38", a chord bearing of S. 77°18'01" W. and a chord distance of 897.27 feet to a
1/2" iron rod with cap set in the East right-of-way line of Guava Avenue as described in Volume 1262, page 362 of the
Deed Records of Lubbock County, Texas and the West line of said Tract 7, for the Southwest corner of this tract;
THENCE N. 00042'35" W., along said East right-of-way line and West line of said Tract 7, at 797.60 feet pass a'/2"
rod with cap set in reference, continuing for a total distance of 835.10 feet to the Point of Beginning.
Contains: 15.327 acres
667,644 square feet
Bearings are relative to the North line of Section 3, Block S, being previously recognized as N. 89°17'25" E.
Surveyed on the ground 'sem
August 3, 2009'fl.
ill P:IgT CA:---'R01-L
�� wa�r�,nmxtna�su,usu»aaen+q�raa+
Brent Carroll,"5E S
n�,'f
Registered Professional Land Surveyor � .40.0n
No. 5410 State of Texas SUR
Return.to: City of Lubbock P.O. Box 2000
Attn: Dave
57
(W4-0-0779711 �' f
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.
GENERAL WARRANTY DEED
DATE: October 26, 2009
GRANTOR: Mollie Sylvia Abbott, as Trustee for and on behalf of the Iris Idell Williams Estate Trust
m
0 a
GRANTOR'S MAILING ADDRESS: "1
5712 79'h Street �
c5p
CSD
Lubbock, Lubbock County, Texas 79424
w
C"
GRANTEE: City of Lubbock, Texas rn
GRANTEE'S MAILING ADDRESS:
P.O. Box 2000
Lubbock,Texas 79457
CONSIDERATION:
Ten and No/100 Dollars ($10.00) and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged.
PROPERTY (INCLUDING ANY IMPROVEMENTS):
That certain real property in Lubbock County, Texas being described as 15.327
acres, more or less, and further being a portion of Tract 7, S.I. Johnson Subdivision of a
part of Section 4, Block B, Sections 1, 2, 3, & 4, Block S and Section 23, Block E,
Lubbock, Texas, according to the map, plat, and/or dedication deed thereof recorded in
Volume 59, Page 354, Deed Records of Lubbock County, Texas, being that same tract
described in Volume 4113, Page 132 of the Real Property Records of Lubbock County,
Texas, and being more particularly described on Exhibit "A" attached hereto, together
with all appurtenances, fixtures, and improvements attached thereto or located thereon.
RESERVATIONS FROM CONVEYANCE:
None.
EXCEPTIONS TO CONVEYANCE AND WARRANTY:
None.
Grantor, for the Consideration and subject to the Reservations from Conveyance and the
Exceptions to Conveyance and Warranty, grants, sells, and conveys to Grantee the Property, together
with all and singular the rights and appurtenances thereto in any way belonging, to have and to hold it to
Grantee and Grantee's heirs, successors, and assigns forever. Grantor binds Grantor and Grantor's heirs
General Warranty Deed
[ris NO Williams Estate Trust to City of Lubbock Fuge 1 of 2
and successors to warrant and forever defend all and singular the Property to Grantee and Grantee's
heirs, successors, and assigns against every person whomsoever lawfully claiming or to claim the same
or any part thereof, except as to the Reservations from Conveyance and the Exceptions to Conveyance
and Warranty.
When the context requires, singular nouns and pronouns include the plural.
Mollie Sylvia Abbo Trustee
Iris Idell Williams Estate Trust
ACKNOWLEDGMENT
STATE OF TEXAS
COUNTY OF LUBBOCK
Before me, the undersigned authority, personally appeared MOLLiE SYLVIA ABBOTT, known to
me to be the person whose name is subscribed to the foregoing instrument and acknowledged to me that
she executed the same for the purposes and consideration therein expressed, and that she had the legal
authority to execute the foregoing instrument.
[SEAL] .:j w k', -
Notary Public for the
-mState of Texas
GAIL WILCOXWN
NotafV Ptl~k,Stag °iT x
r Y as
C.Om nissiw t
General Warranty Deed
Iris Idell Williams Estate Trust to City of Lubbock Page 2 of 2