Loading...
HomeMy WebLinkAboutResolution - 6020 - Contract Of Sale - Mary Lou Scott & Helen Sue Hoskins - 10/08/1998Resolution No. 6020 Item No. 23 October. 8, 1998 RESOLUTION WHEREAS, the City of Lubbock, Texas, a Home Rule Municipality located in Lubbock County, Texas, has determined and does hereby determine that the public needs, safety and welfare demand and create a public necessity for the acquisition of additional land for municipal purposes and public purposes, to -wit: for construction of a Citibus Parking Lot, and the City Council of said City finds it in the public interest and for public purposes and municipal purposes to proceed with the acquisition of such lands as needed for such purposes as aforesaid; NOW THEREFORE: BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: SECTION 1. THAT the fee simple title to a tract of land located in Lubbock County, Texas, be acquired for public purposes and municipal purposes as set forth in the preamble hereof, which tract of land is approximately described as follows: Lots 1-10, Block 56, Original Town Addition to the City of Lubbock, Lubbock County, Texas. SECTION 2. THAT the Mayor of the City of Lubbock is hereby authorized to execute a Contract of Sale, attached to this Resolution and incorporated herein by this reference, and related documents, for the purchase of the above described real property for the sum of $230,000 between owners Mary Lou Scott and Helen Sue Hoskins and the City of Lubbock. Passed by the City Council this 8th day of October , 1998. WINDY SI O. OR AM, Xj_.� W� Kayto Darnell, City Secretary APPROVED AS TO CONTENT: /1 Ed Bucy, Right -of -Way ent APPROVED AS Richard K. Casn , Natural Resources Attorney RQgs/ccdocs/Citibus Parking Lot.res September 29, 1998 Resolution No. 6020 Item No. 23 October 8, 1998 CONTRACT OF SALE STATE OF TEXAS § COUNTY OF LUBBOCK § This Contract of Sale (the "Contract") is made by and between Mary Lou Scott and Helen Sue Hoskins (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 Lots 1-10, inclusive, Block 56, Original Town Addition to the City of Lubbock, Lubbock County, Texas as reflected in that certain Plat, recorded in Volume 5, Page 384, Real Property Records, Lubbock County, Texas (the "Land"); and WHEREAS, Seller desires to sell to City and City desires to buy from Seller, the Land, all rights appurtenant to the Land, and the fixtures attached thereto and/or located thereon (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 H PURCHASE PRICE AND EARNEST MONEY 2.01 Purchase Price. The Purchase Price to be paid to Seller for the Property is the sum of Two Hundred Thirty Thousand and No/100 Dollars ($230,000.00) (the "Purchase Price"). 2.02 Earnest Money. Buyer shall deposit the sum of Two Thousand and No/ 100 Dollars ($2,000.00), 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. If the purchase contemplated hereunder is consummated in accordance with the terms and the provisions hereof, the Earnest Money, shall be applied to the Purchase Price at Closing. In all other events, the Earnest Money shall be disposed of by the Title Company as provided in this Contract. 2.03 Independent Contract Consideration. Within three (3) calendar days after the Effective Date, as defined below, Buyer shall deliver to Seller a check in the amount of One Hundred and HOSKINS.CON/8-5-98 SAW - Agreemems/Comrade 4 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 MATTERS 3.01 Title Commitment. Seller has previously delivered to Buyer a Commitment for Title Insurance (the "Title Commitment") dated July 6, 1998, and issued by First American Title Insurance Company of Texas, with Lubbock Abstract & Title Company being its authorized agent, setting forth exceptions to good and indefeasible title ("Exceptions"), together with true and correct copies of all instruments that create or evidence exceptions to good and indefeasible title (the "Exception documents"). 3.02 Review of Title Commitment, and Exception Documents. Buyer shall have a period of fifteen (15) calendar days (the "Title Review Period") commencing with the Effective Date (herein so called and being the date of execution of this Contract by Buyer), in which to give written notice to Seller, specifying Buyer's objections to one or more of the items set forth in the Title Commitment ("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. Notwithstanding anything to the contrary herein, Buyer may object to any exception it deems material, in its sole discretion. 3.03 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 Section 3.02, the Seller shall, within seven (7) 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 at Seller's expense. 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 seven (7) calendar day period, and 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, in which event those Objections shall become Permitted Exceptions (herein so called), or (ii) terminating this Contract by notice in writing and receiving 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. 3.04 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 First American Title Insurance HOSKINS.CONX5.98 SAW - Agreements/Contracts 4 2 Company of Texas, 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. ARTICLE IV FEASIBILITY REVIEW PERIOD AND IMPROVEMENTS 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 �N this Contract and endings(, calendar days thereafter (the "Absolute Review Period"), based on such tests, examinations, studies, investigations and inspections of the Property the Buyer deems necessary and 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. 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) 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 5.03(a). (b) 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 landowners or other persons against or affecting the Property. (c) 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. HOSKINS.CON/8-5-98 SAW - Agreemems/Comruv 4 3 (d) Seller has the Property listed for sale with a Realtor/Broker. Seller shall pay any and all commissions, finders fees, and/or any other sums or amounts due to said Realtor/Broker and/or any other party on account of or related to the transactions contemplated by this Contract. 5.02 Representations and Warranties of Buyer. Buyer represents and warrants to Seller as follows: (a) Buyer agrees that Buyer is relying solely on its own inspections, examinations and investigations during the Absolute Review Period (Section 4.01 herein) in making the decision to purchase the Property. Buyer shall not rely upon, and is not relying upon, any information, document, sales brochure, or other literature, maps or sketches, projection, pro forma, statement or representation that may have been given or made by, or on behalf of Seller. (b) Buyer, prior to the Closing Date, will, at Buyer's own expense, satisfy itself as to any and all conditions of the Property for its intended purposes, including but not limited to, environmental compliance and conditions, and utility availability. Buyer represents and warrants that Buyer has not relied upon any representation or warranty made by Seller in connection with the Property, or the condition of the surface or subsurface thereof, or the soil conditions or compaction or bearing ability thereof. SELLER HEREBY DISCLAIMS ANY AND ALL WARRANTIES WITH RESPECT TO THE PROPERTY, INCLUDING, WITHOUT LIMITATION, WARRANTIES AS TO QUALITY AND SUITABILITY FOR ANY PURPOSE, but such disclaimer shall not be construed as a disclaimer of any warranties of title. (c) Buyer is purchasing the Property with full knowledge, understanding, and acceptance of the following: Other than Seller's warranties of title, and representations and warranties as set out in Section 5.01 hereof, SELLER HAS NOT MADE, DOES NOT MAKE, AND HEREBY NEGATES AND DISCLAIMS ANY REPRESENTATIONS AND WARRANTIES, EITHER EXPRESS OR IMPLIED, EITHER UNDER COMMON LAW, STATUTE OR OTHERWISE, AS TO THE PHYSICAL CONDITION, LAYOUT, FOOTAGE, ACREAGE, EXPENSES, OPERATION OR ANY OTHER MATTER AFFECTING OR RELATED TO THE PROPERTY. TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE PROPERTY IS CONVEYED "AS IS" AND "WITH ALL FAULTS" AND SELLER EXPRESSLY DISCLAIMS ANY AND ALL REPRESENTATIONS, WARRANTIES OR GUARANTEES, OF ANY KIND, ORAL OR WRITTEN, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION: (i) THE VALUE, CONDITION, MERCHANTABILITY, HABITABILITY, MARKETABILITY, PROFITABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR USE OR PURPOSE, OF THE PROPERTY; (ii) THE MANNER OR QUALITY OF THE CONSTRUCTION OR MATERIALS INCORPORATED INTO THE IMPROVEMENTS LOCATED ON THE PROPERTY, OR PERSONAL HOSKPIS.CON/8-5-98 SAW - AV==r a/Contracts 4 4 PROPERTY; AND (iii) THE MANNER, QUALITY, STATE OF REPAIR OR LACK OF REPAIR OF THE IMPROVEMENTS LOCATED ON THE PROPERTY, OR PERSONAL PROPERTY. SELLER SHALL NOT BE LIABLE OR BOUND IN ANY MANNER BY ANY VERBAL OR WRITTEN STATEMENTS, REPRESENTATIONS, OR INFORMATION PERTAINING TO THE PROPERTY, OR THE OPERATION THEREOF, FURNISHED BY ANY REAL ESTATE BROKER, AGENT, EMPLOYEE, SERVANT OR OTHER PERSON, UNLESS THE SAME ARE SPECIFICALLY SET FORTH OR REFERRED TO HEREIN. SELLER HAS NOT, DOES NOT, AND WILL NOT MAKE ANY REPRESENTATION OR WARRANTY WITH REGARD TO COMPLIANCE WITH ANY ENVIRONMENTAL PROTECTION, POLLUTION OR LAND USE LAWS, RULES, REGULATIONS, ORDERS OR REQUIREMENTS INCLUDING, BUT NOT LIMITED TO, THOSE PERTAINING TO THE HANDLING, GENERATING, TREATING, STORING OR DISPOSING OF ANY HAZARDOUS WASTE OR SUBSTANCE. (d) INTENTIONALLY DELETED 5.03 Covenants and Agreements of Seller and Buyer. (a) Seller has represented and warranted to Buyer under Section 5.01(a) of this Contract that the only parties having any right to occupy the Property are Grady Henly Decorators, and Western Uniform & Towel Service Incorporated of Texas, each of which are currently occupying the Property under a month-to-month lease with Seller (herein collectively referred to as the "Lease"). There are no written lease agreements pertaining to the Property. Buyer agrees to accept conveyance of the Property subject to the Leases. (b) From the Effective Date until the date of Closing or earlier termination of this Contract, Seller shall: (i) Not enter into any written or oral service 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. HOSKINS.CON/8-5-98 SAW - AV"rwms/Corawts 4 5 (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) Seller shall 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. 5.04 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, Seller cures or Buyer waives in writing, 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 condemnation, eminent domain, or other material proceeding, 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 Lease Expiration. Buyer shall not be obligated to perform under this Contract if Buyer should determine during the Absolute Review Period that those holding possession under the Lease, or any other party owning and/or claiming any interest thereunder, shall have rights to the Property beyond those rights normally held by lessees under a month-to-month tenancy. In this regard, however; Buyer hereby acknowledges its current intent to demolish the improvements located on the Property, and understands that the respective lessees under the HOSKINS.CON/8-5-98 SAW - Agreements/Contracts 4 6 Lease may have certain rights to tenant -installed fixtures and improvements to the Property which may be removed by the respective tenants upon termination of the Lease by Buyer. 6.06 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. 6.07 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 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. Upon Buyer's termination of this Contract pursuant to Buyer's authority to do so under this Section 6.07, 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. The Closing Date (herein sometimes called), shall be on the earlier to occur of (i) October 30, 1998; or (ii) as mutually agreed on by Seller and Buyer. 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 3.04; (ii) The Special Warranty Deed, substantially in the form as attached hereto as Exhibit "A", duly executed by Seller and acknowledged; and (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 check, certified or cashier's check or other readily available funds; and HOSKINS.CON4-5-N SAW - Agreements/Convects 4 7 (ii) Other items reasonably required 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. 7.04 Possession at Closing. Possession of the Property shall be delivered to Buyer by Seller on the Closing Date. 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, and expenses identified herein as being the 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 (ii) 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 sole option, do any one or more of the following: (i) Terminate this Contract by written notice delivered to Seller, in which event the Buyer shall be entitled to a return of the Earnest Money.; HOSKINS.CON/8-5A9 Q SAW - Agmemema/Conuacta 4 O (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. 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. (b) Seller's Remedy. If Buyer is in default under this Contract, Seller, as Seller's sole and exclusive remedy for the default, may 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. 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: with copy to: SELLER: Mary Lou Scott Helen Sue Hoskins 380 Fan Palm Court N/E St. Petersburg, FL 33073 Stan A. Weaver Attorney at Law 1005 15th Street Lubbock, Texas 79401 HMINS.CON/8-5A8 SAW - AvwiwMs/Cont=U 4 9 BUYER: Edward W. Bucy Right -of -Way Agent P. O. Box 2000 Lubbock, TX 79457 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 part of, this Contract for all purposes. 9.08 Expiration of Offer. The exeof tois Contract by Seller constitutes an offer to sell the Property. Unless by 5:00 p.m. on ,' 1998, this Contract is accepted by Buyer, and a fully executed counterpart is delivered to Seller, the offer of this Contract shall be A i automatically revoked and terminated. SELLER: MARY LOU SCOTT HELEN SUE HOSKIINS Executed by Seller on the day of�998. HOSKQ &CON/8-S-98 SAW - Agreemems/Conuwm 4 10 BUYER: Executed by Buyer on the 8th day of October , 1998. ATTEST: Kay a Darnell, C ify Secretary APPROVED AS -TO CONTENT: Edward W. Bucy, Right -of -Way Agent APPROVED AS T ORM: Richard Casner, Natural Resources Attorney HOSKINS.CON/9-5-98 SAW - Agrftwnts/Contracts 4 11 Exhibit "A" SPECIAL WARRANTY DEED STATE OF TEXAS § KNOW ALL MEN BY THESE PRESENTS: COUNTY OF LUBBOCK That MARY LOU SCOTT and HELEN SUE HOSKINS, of Lubbock, Texas (herein called "Seller"), for and in consideration of the sum of TEN AND N0/100 DOLLARS ($10.00), and other good and valuable consideration to Seller in hand paid by the CITY OF LUBBOCK, a Home Rule Municipal Corporation (herein called "Buyer"), P. O. Box 2000, Lubbock, Texas 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 Buyer all the real property in Lubbock County, Texas, described as follows: LOTS ONE (1), TWO (2), THREE (3), FOUR (4), FIVE (5), SIX (6), SEVEN (7), EIGHT (8), NINE (9) and TEN (10), BLOCK FIFTY SIX (56), ORIGINAL TOWN to the City of Lubbock, Lubbock County, Texas, according to the Map, Plat and/or Dedication Deed thereof, recorded in Volume 5, Page 384, Deed Records of Lubbock County, Texas (the "Property"). THIS CONVEYANCE IS EXPRESSLY MADE SUBJECT TO any and all valid and subsisting easements or rights-of-way of record, outstanding interests in the oil, gas and other minerals in and under the Property, if any, rights and claims of tenants of the Property, and ad valorem taxes assessed against the Property for the tax year 1998, which Buyer agrees to pay when due and owing. TO HAVE AND TO HOLD the Property, together with all and singular the rights and appurtenances thereto in anywise belonging unto Buyer and Buyer's successors and assigns forever; and Buyer does hereby bind Seller and Seller's successors and assigns to WARRANT AND FOREVER DEFEND all and singular the Property unto Buyer and Buyer's successors and assigns, against every person whomsoever lawfully claiming or to claim the same or any part thereof, when the claim is by, through, or under Seller, but not otherwise. EXECUTED the 8th day of Octnbpr , 1998. HELEN SUE HOSKINS H0SK1NS.00M8-5-98 12 SAW - AVft=ms/Contracts 4 SELLERS: MARY LOU SCOTT THE STATE OF TEXAS § COUNTY OF LUBBOCK § This instrument was acknowledged before me on , by HELEN SUE HOSKINS. Notary Public in and for the State of Texas My Commission Expires: THE STATE OF § COUNTY OF § This instrument was acknowledged before me on , by MARY LOU SCOTT. Notary Public in and for the State of My Commission Expires: HOSMS.COW&S-98 SAW - AVftnzrb/Cmnca= 4 13