HomeMy WebLinkAboutResolution - 2007-R0506 - Contract Of Sale - Douglas And Kay Sanford - 10/25/2007Resolution No. 2007-80506
October 25, 2007
item No. 5.27
RESOLUTION
RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the Mayor of the City of Lubbock BE and is hereby authorized and
:ed to execute for and on behalf of the City of Lubbock, a Contract of Sale by and
,en the City of Lubbock and Douglas Sanford and wife, Kay Sanford, and all related
vents. Said Contract of Sale is attached hereto and incorporated in this Resolution
:ally set forth herein and shall be included in the minutes of the Council.
;d by the City Council this 25th day of October 2007.
ATTEST:
Reb ca Garza, City Secretary
APPROVED AS TO CONTENT:
X, P'P L&it AA -,-k--' -
Ue-VAhWDumbaalB
City Manager
ti! J �t� Z-C'�� �
Dave Booher
Right -of -Way Agent
APPROVED AS TO FORM:
Richard K. Casner
First Assistant City Attomey
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October 9, 2007
DAVID A. WILLER, MAYOR
Resolution No. 2007-RO506
CONTRACT OF SALE
STATE OF TEXAS §
COUNTY OF LUBBOCK §
This Contract of Sale (the "Contract") is made by and between Douglas Sanford and wife,
Kay Sanford (referred to herein .as "Seller") and the City of Lubbock, Texas, a Home Rule
Municipal Corporation of Lubbock County, Texas (referred to herein as `Buyer").
RECITALS
WHEREAS, Seller owns that certain tract of land, being Tract C-1, Bryan Park Addition
to the City of Lubbock, Lubbock County, Texas, according to that certain Map, Plat or
Dedication Deed thereof, recorded in Volume 1814, Page 335, Deed Records, Lubbock County,
Texas (the "Land"); and
WHEREAS, Seller desires to sell to City, and City desires to buy from Seller, the Land,
and any and all the rights appurtenant to the Land, the fixtures, and improvements attached to the
Land (collectively, the "Property").
ARTICLE I
SALE OF PROPERTY
For the consideration hereinafter set forth, and upon the terms, conditions and provisions
herein contained, Seller agrees to sell and convey to Buyer, and Buyer agrees to purchase from
Seller, the Property.
ARTICLE II
PURCHASE PRICE AND EARNEST MONEY
2.01 Purchase Price. The Purchase Price to be paid to Seller for the Property is the sum of
One Hundred Two Thousand Nine Hundred Twenty -Six and 801100 Dollars ($102,926.80) (the
"Purchase Price").
2,02 Earnest Money. Buyer shall deposit the sure of One Thousand and No/100 Dollars
($1000.00), as Earnest Money (herein so called) with Lubbock Abstract and Title Company, at
1216 Texas Avenue, Lubbock, Texas, 79401 (the "Title Company"), as escrow agent, upon
execution of this Contract by Seller and Buyer. The Earnest Money shall be invested in an
interest bearing account with a financial institution in a manner acceptable to Buyer, in its
reasonable discretion. All interest earned thereon shall become part of the Earnest Money and
shall be applied or disposed of in the same manner as the original Earnest Money deposit, as
provided in this Contract. If the purchase contemplated hereunder is consummated in accordance
with the terms and the provisions hereof, the Earnest Money, together with all interest earned
thereon, shall be applied to the Purchase Price at Closing. In all other events, the Earnest Money,
and the interest accrued thereon, shall be disposed of by the Title Company as provided in this
Contract.
2.03 Independent Contract Consideration. Within ten (10) calendar days after the Effective
Date, as defined below, Buyer shall deliver to Seller a check in the amount of One Hundred and
No/100 Dollars ($100.00) (the "Independent Contract Consideration"), which amount the parties
hereby acknowledge and agree has been bargained for and agreed to as consideration for Seller's
execution and delivery of the Contract. The Independent Contract Consideration is in addition
to, and independent of any other consideration or payment provided in this Contract, is non-
refundable, and shall be retained by Seller notwithstanding any other provision of this Contract.
ARTICLE III
TITLE AND SURVEY
3.01 Title Commitment.
(a) Within twenty (20) calendar days after the execution of this Contract by Buyer (the
"Effective Date"), Seller, at Seller's sole cost and expense, shall cause to be furnished to
Buyer (and to the surveyor selected to perform the survey, as contemplated below), a
current Commitment for Title Insurance (the "Title Commitment") for the Property,
issued by Title Company. The Title Commitment shall set forth the state of title to the
Property, including a list of liens, mortgages, security interests, encumbrances, pledges,
assignments, claims, charges, leases (surface, space, mineral, or otherwise), mineral
reservations, conditions, restrictions, options, conditional sales contracts, rights of first
refusal, restrictive covenants, exceptions, easements (temporary or permanent), rights-of-
way, encroachments, or any other outstanding claims, interests, estates or equities of any
nature (each of which are referred to herein as an "Exception").
(b) Along with the Title Commitment, Seller shall also cause to be delivered to Buyer, at
Seller's sole cost and expense, true and correct copies of all instruments that create or
evidence Exceptions, including those described in the Title Commitment as exceptions to
which the conveyance will be subject and which are required to be released or cured at or
prior to Closing.
3.02 Survey. Within thirty (30) calendar days after the Effective Date, Seller, at Seller's sole
cost and expense, shall cause two (2) original prints of a current on the ground survey for the
Property (the "Survey") to be delivered to Buyer. In addition, Seller shall furnish any affidavits,
certificates, assurances, resolutions and any other documents or materials required by the Title
Company in order to amend the survey exceptions as required by Section 3.05 below. Unless
otherwise agreed by Buyer, the description of the Property as set forth in the Survey shall be used
to describe the Property in the deed to convey the Property to Buyer and shall be the description
set forth in the Title Policy.
The Survey shall include a certified map or plot showing:
(i) the plot to be covered by the deed conveying the Property to Buyer;
Contract of Sale
Page 2 of 15
(ii) the relation of the point of the beginning of such plot to the monument from which it is
fixed;
(iii) all easements, showing the recording information therefor by volume and page;
(iv) the established building line, if any;
(v) all easements appurtenant to such plot;
(vi) the boundary line of the street or streets abutting the plot and the width of such streets;
(vii) any encroachments and the extent thereof in terms of distance upon said plot and any
easements appurtenant thereto;
(viii) the location of all structures and improvements on said plot with horizontal length of all
sides and the relation thereof by distances to (a) all boundary lines of the plot; (b) all
easements; (c) established building lines, and (d) street lines.
Further, the certification of the Survey for the description of the Property and the map or
plot, shall be addressed to Buyer (and to the Title Company, if required by the Title Company),
signed by surveyor, bearing the current date, and registration number.
3.03 Review of Title Commitment, Survey and Exception Documents. Buyer shall have a
period of twenty (20) calendar days (the "Title Review Period") commencing with the day Buyer
receives the last of the Title Commitment, the Survey and the Exception documents, in which to
give written notice to Seller, specifying Buyer's objections to one or more of the items
("Objections"), if any. All items set forth in the Schedule C of the Title Commitment, and all
other items set forth in the Title Commitment which are required to be released at or prior to
Closing, shall be deemed to be Objections.
3.04 Seller's Obligation to Cure; Buyer's Right to Terminate. If Buyer notifies Seller of
Objections to any of the matters furnished to Buyer pursuant to this Article III, the Seller shall,
within fifteen (15) calendar days after Seller is provided notice, either satisfy the Objections at
Seller's sole cost and expense or promptly notify Buyer in writing of the Objections that Seller
cannot or will not satisfy. Notwithstanding the foregoing sentence, Seller shall, in any event, be
obligated to cure those Objections or Exceptions that are liens or security interests or that have
been voluntarily placed on or against the Property by Seller after the Effective ,Date. If Seller
fails or refuses to satisfy any Objections that Seller is not obligated to cure within the allowed
fifteen (15) calendar day period, if Buyer and Seller do not agree in writing to an extension of
that period, then Buyer has the option of either:
(i) waiving the unsatisfied Objections by notice in writing to Seller within thirty (30)
calendar days after the expiration of the Title Review Period, in which event those
Objections shall become Permitted Exceptions (herein so called), or
Contract of Sale
Page 3 of 15
(ii) terminating this Contract either by (i) providing notice in writing of termination; or (ii)
not providing notice of waiver, as set forth in Section 3.04 (i), and upon such termination.
Buyer shall receive back the Earnest Money, in which latter event Seller and Buyer shall
have no further obligations, one to the other, with respect to the subject matter of this
Contract.
3.05 Title Policy. At Closing, Seller, at Seller's sole cost and expense, shall cause a standard
Texas Owner Policy of Title Insurance ("Title Policy") to be furnished to Buyer. The Title
Policy shall be issued by the Title Company, on behalf of Lawyers Title Insurance Corporation,
in the amount of the Purchase Price and insuring that Buyer has indefeasible fee simple title to
the Property, subject only to the Permitted Exceptions. The Title Policy may contain only the
Permitted Exceptions and shall contain no other exceptions to title, with the standard or common
printed exceptions amended or deleted as follows:
(i) survey exception shall be amended to read "shortages in area" only (although Schedule C
of the Title Commitment may condition amendment on the presentation of an acceptable
survey and payment, to be borne solely by Seller, of any required additional premium);
(ii) the exception for taxes must be completed with only the current year filled in (unpaid
taxes for prior years, if any, may be shown on Schedule C of the Title Commitment);
(iii) no exception will be permitted for "visible and apparent easements" or words to that
effect (although reference may he made to any permitted specific easement or use shown
on the Survey);
(iv) no exception will be permitted for "rights of parties in possession";
(v) no liens will be shown on Schedule B.
Notwithstanding the enumeration of the following exceptions, amendments and/or
deletions, Buyer may object to any Exceptions it deems material, in its sole discretion.
ARTICLE IV
FEASIBILITY REVIEW PERIOD
4.01 Review Period. Any term or provision of this Contract notwithstanding, the obligations
of Buyer specified in this Contract are wholly conditioned on Buyer's having determined,
in Buyer's sole and absolute discretion, during the period commencing with the Effective
Date of this Contract and ending forty-five (45) calendar days thereafter (the "Absolute
Review Period"), based on such tests, examinations, studies, investigations and
inspections of the Property the Buyer deems necessary or desirable, including but not
limited to studies or inspections to determine the existence of any environmental hazards
or conditions, performed at Buyer's sole cost, that Buyer finds the Property suitable for
Buyer's purposes. Buyer is granted the right to conduct engineering and/or market and
economic feasibility studies of the Property, and to conduct a physical inspection of the
Property, including without limitation, soil borings and other reasonable intrusive or
Contract of Sale
Page 4 of 15
invasive investigations. If Buyer determines, in its sole judgment , that the Property is not
suitable, for any reason, for Buyer's intended use or purpose, the Buyer may terminate
this Contract by written notice to the Seller, as soon as reasonably practicable, but in any
event prior to the expiration of the Absolute Review Period, in which case the Earnest
Money will be returned to Buyer, and neither Buyer nor Seller shall have any further
duties or obligations hereunder.
ARTICLE V
REPRESENTATIONS, WARRANTIES, COVENANTS AND
AGREEMENTS
5.01 Representations and Warranties of Seller. To induce Buyer to enter into this Contract
and consummate the sale and purchase of the Property in accordance with the terms and
provisions herewith, Seller represents and warrants to Buyer as of the Effective Date and as of
the Closing Date, except where specific reference is made to another date, that:
(a) The descriptive information concerning the Property set forth in this Contract is
complete, accurate, true and correct.
(b) There are no adverse or other parties in possession of the Property or any part
thereof, and that no party has been granted any license, lease or other right related
to the use or possession of any of the Property, or any part thereof, except those
described in the Leases, as defined in Section 5.02(a).
(c) The Seller has good and marketable fee simple title to the Property, subject only
to the Permitted Exceptions.
(d) The Seller has the full right, power, and authority to sell and convey the Property
as provided in this Contract and to carry out Seller's obligations hereunder, and
that all requisite actions necessary to authorize Seller to enter into this Contract
and to carry out Seller's obligations hereunder have been, or by the Closing, will
have been taken.
(e) All utilities (including without limitation, water, gas, sanitary sewer, electricity,
trash removal, and telephone service) required by law or necessary for operation
of the Property as it is now being operated are available to the Property in
sufficient quantities to adequately service the needs of the Property.
(f) The Seller has not received notice of, and has no other knowledge or information
of, any pending or threatened judicial or administrative action, or any action
pending or threatened by adjacent land owners or other persons against or
affecting the Property.
(g) The Seller has disclosed to Buyer in writing of any and all facts and circumstances
relating to the physical condition of the Property that may materially and
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Page 5 of 15
adversely affect the Property and operation or intended operation thereof, or any
portion thereof, of which Seller has knowledge.
(h) The Seller has paid all real estate and personal property taxes, assessments,
excises, and levies that are presently due which are against or are related to the
Property, or will be due as of the Closing, and the Property will be subject to no
liens, other than liens for ad valorem taxes for years subsequent to Closing.
(i) All items delivered to Buyer, if any, pursuant to Section 5.02(a), below, are true,
correct and complete in all respects and fairly present the information set forth in
a manner that is not misleading.
(j} Seller has not contracted or entered into any agreement with any real estate
broker, agent, finder, or any other party in connection with this transaction and has
not taken any action which would result in any real estate broker commissions or
finders fee or other fees payable to any other party with respect to the transactions
contemplated in this Contract.
(k) All Leases, as defined in Section 5.02(x), shall have expired or otherwise
terminated on or before the date of Closing.
5.02 Covenants and Agreements of Seller. Seller covenants and agrees with Buyer as
follows:
(a) Unless stated otherwise, prior to the Effective Date hereof, or within three (3)
days after the Effective Date, Seller, at Seller's sole cost and expense, shall
deliver to Buyer, with respect to the Property, true, correct, and complete copies of
the following:
(i) All lease agreements (including a full and accurate description of any valid
oral lease, agreement or license) and/or occupancy agreements and/or
licenses of any kind or nature relating to the possession of the Property, or
any part thereof, including any and all modifications, supplements, and
amendments thereto (the "Leases").
(ii) All valid and subsisting written warranties and guaranties relating to the
Property, or any part thereof, together with written statements setting forth
the unexpired term of any warranty or guaranty, and stating that they are
assignable to Buyer and that the assignment will provide to Buyer full
rights and benefits thereof.
(b) From the Effective Date until the date of Closing or earlier termination of this
Contract, Seller shall:
Contract of Sale
Page 6 of 15
(i) Not enter into any written or oral contract or other agreement of any kind
with respect to the Property that will not be fully performed on or before
the Closing or would be binding on Buyer after the date of Closing.
(ii) Advise the Buyer promptly of any litigation, arbitration, or administrative
hearing concerning or affecting the Property.
(iii) Not take, or omit to take, any action that would result in a violation of the
representations, warranties, covenants, and agreements of Seller.
(iv) Not sell, assign, lease or convey any right, title or interest whatsoever in or
to the Property, or create, or permit to exist, any lien, encumbrance, or
charge thereon.
(v) Not enter into, or alter or amend, or otherwise modify any Lease without
first obtaining the Buyer's written consent.
(c) To indemnify and hold Buyer harmless from all loss, liability, and expense,
including, without limitation, reasonable attorneys' fees, arising or incurred as a
result of any liens or claims resulting from labor or materials furnished to the
Property under any written or oral contracts arising or entered into prior to
Closing.
5.03 Survival Beyond Closing. The representations, warranties, covenants and agreements of
Seller and Buyer contained in this Contract shall survive the Closing.
ARTICLE VI
CONDITIONS PRECEDENT TO PERFORMANCE
6.01 Performance of Seller's Obligations. Buyer is not obligated to perform under this
Contract unless, within the designated time periods, at Seller's sole cost and expense (except as
herein expressly provided to the contrary), all of the following shall have occurred:
(i) Seller has performed, furnished, or caused to be furnished to Buyer all items
required to be so performed or furnished under other sections of this Contract; and
(ii) Seller cures or Buyer waives in writing, within the time periods specified in
Article III, all of Buyer's objections made in accordance with Article III.
6.02 Breach of Seller's Representations, Warranties, Covenants and Agreements. Buyer
is not obligated to perform under this Contract unless all representations, warranties, covenants
and agreements of Seller contained in this Contract are true and correct, as of the Effective Date
and Closing Date, except where specific reference is made to another date.
6.03 Adverse Change. Buyer shall not be obligated to perform under this Contract, if on the
date of Closing, any portion of the Property has been condemned, or is the subject of
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Page 7 of 15
condemnation, eminent domain, or other material proceeding, or has been damaged by casualty
in any material manner, or the Property, or any part thereof, has been materially or adversely
impaired in any manner.
6.04 Review Period. Buyer shall not be obligated to perform under this Contract if Buyer
delivers written notice to Seller pursuant to Section 4.01, that Buyer has determined that the
Property is unsuitable to or for Buyer's purposes.
6.05 Buyer's Right to Waive Conditions Precedent. Notwithstanding anything contained in
this Contract to the contrary, Buyer may, at Buyer's option, elect to waive any of the conditions
precedent to the performance of Buyer's obligations under this Contract by giving to the Seller,
at any time prior to Closing, a written waiver specifying the waived condition precedent.
6.06 Buyer's Termination if Conditions Precedent Not Satisfied or Waived. If any of the
conditions precedent to the performance of Buyer's obligations under this Contract have not been
satisfied or waived in writing by the Buyer, the Buyer may, by giving written notice to Seller,
terminate this Contract. On Buyer's termination, the Earnest Money shall be immediately
returned to Buyer by the Title Company. The Seller shall, on written request from Buyer,
promptly issue the instructions necessary to instruct the Title Company to return to Buyer the
Earnest Money and, thereafter, except as otherwise provided in this Contract, Buyer and Seller
shall have no further obligations under this Contract, one to the other.
ARTICLE VII
CLOSING
7.01 Date and Place of Closing. The Closing shall take place in the offices of the Title
Company and shall be accomplished through an escrow to be established with the Title
Company, as escrowee. The Closing Date (herein sometimes called), shall be on the earlier to
occur of (i) five (5) days following the completion of all conditions precedent to Buyer's
performance of this Contract as set forth in Article VI hereof; or (ii) as mutually agreed on by
Seller and Buyer. Closing shall not be later than thirty (30) calendar days after the expiration of
the Absolute Review Period unless extended by mutual agreement of Buyer and Seller.
7.02 Items to be Delivered at the Closing.
(a) Seller. At the Closing, Seller shall deliver or cause to be delivered to Buyer or
the Title Company, at Seller's sole cost and expense (except as herein expressly
provided to the contrary), the following items:
(i) The Title Policy, in the form specified in Section 3.05;
(ii) The General Warranty Deed, substantially in the form as attached hereto as
Exhibit "A", subject only to the Permitted Exceptions, if any, duly
executed by Seller and acknowledged;
Contract of Sale
Page 8 of 15
(iii) Other items reasonably requested by the Title Company as administrative
requirements for consummating the Closing.
(b) Buyer. At the Closing, Buyer shall deliver to Seller or the Title Company, the
following items:
(i) The sum required by Section 2.01, in the form of certified or cashier's
check or other readily available funds;
(ii) Other items reasonably requested by the Title Company as administrative
requirements for consummating the Closing.
7.03 Adjustments at Closing. Notwithstanding anything to the contrary contained in this
Contract, the provisions of this Section 7.03 shall survive the Closing. The following item shall
be adjusted or prorated between Seller and Buyer with respect to the Property:
(i) Ad valorem taxes relating to the Property for the calendar year in which the
Closing shall occur shall be prorated between Seller and Buyer as of the Closing
Date. If the actual amount of taxes for the calendar year in which the Closing
shall occur is not known, as of the Closing Date, the proration shall be based on
the amount of taxes due and payable with respect to the Property for the preceding
calendar year. In the event it is determined that the amount of taxes utilized in the
described proration calculation is incorrect for the calendar year in which Closing
shall occur, the party owing additional amounts under such proration shall, on or
before twenty (20) days after notice, submit to the other party funds necessary to
correct the proration of taxes for the calendar year in which Closing shall occur.
7.04 Possession at Closing. Possession of the Property shall be delivered to Buyer on the
Closing Date, in its present condition, subject only to ordinary wear and tear. Any property of
the Seller which is not the subject of the transaction contemplated by this Contract shall be
removed from the Property by Seller, prior to the Closing Date. Any such property not so
removed shall, at the option of Buyer either;
(i) become the property of Buyer; or
(ii) be removed by Buyer at Seller's sole cost and expense. In the event Buyer
shall elect to remove such property, Buyer shall owe no duty to protect
such property, and shall, in no event be liable to Seller for loss, damage, or
destruction of same. Buyer may dispose of any such property in any
manner it desires in its sole discretion, and retain any proceeds received by
Buyer for such property.
7.05 Costs of Closing. Each party is responsible for paying the legal fees of its counsel, in
negotiating, preparing, and closing the transaction contemplated by this Contract. Seller is
responsible for paying fees, costs and expenses identified herein as being the responsibility of
Seller. Buyer is responsible for paying fees, costs, expenses identified herein as being the
Contract of Sale
Page 9 of 15
responsibility of Buyer. If the responsibility for such costs or expenses associated with closing
the transaction contemplated by this Contract are not identified herein, such costs or expenses
shall be borne by the parties as same are normally assessed by the Title Company in a transaction
of this character.
ARTICLE VIII
DEFAULTS AND REMEDIES
8.01 Seller's Defaults and Buyer's Remedies.
(a) Seller's Defaults. Seller is in default under this Contract on the occurrence of any
one or more of the following events:
(i) Any of Seller's warranties or representations contained in this Contract are
untrue on the Closing Date or date of the representation or warranty
provided in this Contract; or
Seller fails to meet, comply with or perform any covenant, agreement,
condition precedent or obligation on Seller's part required within the time
limits and in the manner required in this Contract.
(b) Buyer's remedies. If Seller is in default under this Contract, Buyer may, at
Buyer's option, do any one or more of the following:
(i) Terminate this Contract by written notice delivered to Seller on or before
the Closing Date, in which event the Buyer shall be entitled to a return of
the Earnest Money;
(ii) Enforce specific performance of this Contract against Seller, requiring
Seller to convey the Property to Buyer subject to no liens, encumbrances,
exceptions, and conditions other than those shown on the Title
Commitment; and
(iii) Seek any other recourse or relief that may be available to Buyer at law or
in equity, including bringing a suit for damages. It is expressly agreed and
understood that the exercise of any right or remedy by Buyer shall not
preclude the concurrent or subsequent exercise of any other right or
remedy and all rights and remedies shall be cumulative.
(e) Return of Earnest Money Deposit. On the occurrence of any event deemed by
Buyer to be a default by Seller under this Contract, in addition to the exercise of
rights and remedies set forth in Section 8.01, the Earnest Money, together with the
interest thereon, shall be immediately returned to the Buyer by the Title Company.
Seller shall, promptly on written request from Buyer, execute and deliver any
documents necessary to cause the Title Company to return to Buyer the Earnest
Money.
Contract of Sale
Page 10 of 15
8.02 Buyer's Default, Seller's Remedies.
(a) Buyer's Default. Buyer is in default under this Contract if Buyer fails to deliver
at Closing the items specified in Section 7.02(b) of this Contract for any reason
other than a default by Seller under this Contract or termination of this Contract
pursuant to the terms hereof prior to Closing.
(b) Seller's Remedies. If Buyer is in default under this Contract, Seller, as Seller's
sole and exclusive remedy for the default, may either (i) terminate this Contract
and, following the expiration of five (5) calendar days after Buyer is in receipt of
written notice of the default, receive the Earnest Money from the Title Company
as liquidated damages; or (ii) enforce specific performance of this Contract
against Buyer requiring Buyer to purchase the Property subject to no liens,
encumbrances, exceptions and conditions other than those shown on the Title
Commitment.
ARTICLE IX
MISCELLANEOUS
9.01 Notice. All notices, demands, requests, and other communications required hereunder
shall be in writing, and shall be deemed to be delivered, upon the earlier to occur of (a) actual
receipt, and (b) the deposit of, in a regularly maintained receptacle for the United States Mail,
registered or certified, return receipt requested, postage prepaid, addressed as follows:
SELLER:
Douglas Sanford and
wife, Kay Sanford
6303 Indiana Avenue
Lubbock, TX 79413
Facsimile: (806) 792-9344
Copies to:
For Seller:
n/a
Facsimile:
BUYER:
Lee Ann Dumbauld
City Manager, City of Lubbock
P.Q. Box 2000
Lubbock, Texas 79457
(806) 775-2228
Facsimile: (806) 775-2051
Dave Booher
Right -of -Way Agent
P. O. Box 2000
Lubbock, TX 79457
(806)775-2352
Facsimile: (806) 775-3074
Contract of Sale
Page 11 of 15
9.02 Governing Law and Venue. This Contract is being executed and delivered and is
intended to be performed in the State of Texas, the laws of Texas governing the validity,
construction, enforcement and interpretation of this Contract. THIS CONTRACT IS
PERFORMABLE IN, AND THE EXCLUSIVE VENUE FOR ANY ACTION BROUGHT
WITH RESPECT HERETO, SHALL LIE IN LUBBOCK COUNTY, TEXAS.
9.03 Entirety and Amendments. This Contract embodies the entire agreement between the
parties and supersedes all prior agreements and understandings, if any, related to the Property,
and may be amended or supplemented only in writing executed by the party against whom
enforcement is sought.
9.04 Parties Bound. This Contract is binding upon and inures to the benefit of Seller and
Buyer, and their respective heirs, executors, administrators, successors and assigns.
9.05 Further Assurances. In addition to the acts and deeds recited in this Contract and
contemplated to be performed, executed and/or delivered by Seller and Buyer, Seller and Buyer
agree to perform, execute and/or deliver, or cause to be performed, executed and/or delivered at
the Closing or after the Closing, any further deeds, acts, and assurances as are reasonably
necessary to consummate the transactions contemplated hereby.
9.06 Time is of the Essence. It is expressly agreed between Buyer and Seller that time is of
the essence with respect to this Contract.
9.07 Exhibits. The Exhibits which are referenced in, and attached to this Contract, are
incorporated in and made a park of, this Contract for all purposes.
9.08 Delegation of Authority. Authority to take any actions that are to be, or may be, taken
by Buyer under this Contract are hereby delegated by Buyer to City Manager, Lee Ann
Dumbauld, or her designee.
9.09 Expiration of Offer. The execution of this Contract by Seller constitutes an offer to sell
the Property. Unless by 5:00 p.m., on November 8, 2007, this Contract is accepted by Buyer, the
offer of this Contract shall be automatically revoked and terminated.
Contract of Sale
Page 12 of 15
Executed by Seller on the S -4 day of T C-1-0 ( -F r 2007.
r --
Executed by Buyer on the
ATTEST:
Beck, Garza, City Secretary
25th day of
BUYER:
October2007.
By.
DAVID A. MILLER, MAYOR
APPROVED AS TO CONTENT:
lae " il -Q , —
Lee Ann Dumbauld, City Manager
'/p C"t'c 2"'�
Dave Booher, Right -of -Way Agent
APPROVED AS T RM:
Richard Casner, First Assistant ity Attorney
mMichardfSanford-Contract of5ale.doc
September 20, 2007
Contract of Sale
Page 13 of 15
Resolution No. 2007-RO506
EXHIBIT "A"
GENERAL WARRANTY DEED
STATE OF TEXAS §
COUNTY OF LUBBOCK § KNOW ALL MEN BY THESE PRESENTS
That DOUGLAS SANFORD and wife, KAY SANFORD (herein called "Grantor"), for
and in consideration of the sum of TEN AND NO/100 DOLLARS ($10.00), and other good and
valuable consideration to Grantor in hand paid by the CITY OF LUBBOCK, a Home Rule
Municipal Corporation (herein called "Grantee"), P. O. Box 2000, Lubbock, TX 79457, the
receipt and sufficiency of which are hereby acknowledged and confessed, has GRANTED,
SOLD and CONVEYED, and by these presents does GRANT, SELL and CONVEY, unto
Grantee all the real property in Lubbock County, Texas described as Tract C-1, Bryan Park
Addition to the City of Lubbock, Lubbock County, Texas, according to that certain Map, Plat or
Dedication Deed thereof, recorded in Volume 1814, Page 335, Deed Records, Lubbock County
Texas, together with all appurtenances, fixtures and improvements attached thereto (the
"Property") -
This conveyance is subject to the following:
[Insert Permitted Exceptions]
TO HAVE AND TO HOLD the Property, together with all and singular the rights and
appurtenances thereto in anywise belonging unto Grantee and Grantee's successors and assigns
forever; and Grantor does hereby bind Grantor and Grantor's successors and assigns to
WARRANT AND FOREVER DEFEND all and singular the Property unto Grantee and
Grantee's successors and assigns, against every person whomsoever lawfully claiming or to
claim the same or any part thereof.
Contract of Sale
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EXECUTED the day of
Grantor:
Douglas Sanford
Kay Sanford
THE STATE OF TEXAS §
COUNTY LUBBOCK §
2007.
This instrument was acknowledged before me on the day of
by Douglas Sanford.
Notary Public, State of Texas
My commission expires:
THE STATE OF TEXAS §
COUNTY LUBBOCK §
2007,
This instrument was acknowledged before me on the day of , 2007,
by Kay Sanford.
Notary Public, State of Texas
My commission expires:
Contract of Sale
Page 15 of 15