HomeMy WebLinkAboutResolution - 2020-R0439 - Commercial Contract Assignment of Buyers Interest - 2015 50th StreetResolution No. 2020-RO439
Item No. 2.1.1
December 21, 2020
RESOLUTION
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THAT the Mayor of the City of Lubbock is hereby authorized and directed to execute for and
on behalf of the City of Lubbock, a Commercial Contract Assignment of Buyer's Interest for
the sale of real property located at 2015 501h Street, Lubbock County, Texas, by and between
the City of Lubbock and Wilkerson Investment Co., of Lubbock, Texas, and related
documents. Said Commercial Contract Assignment of Buyer's Interest is attached hereto and
incorporated in this resolution as if fully set forth herein and shall be included in the minutes
of the City Council.
THAT the City Council finds it to be in the best interest of the citizens of the City of Lubbock
in order to expedite the performance of city business, to delegate authority to execute any
necessary or related documents associated with this Assignment to the City Manager of the
City of Lubbock, or his designee.
Passed by the City Council on December 21, 2020
APPROVED AS TO CONTENT:
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W. Jarre tkinson, City Manager
APPROVED AS TO FORM:
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R an ooke, Assistant City Attorney
RES.2015 50' Street Assignment -Wilkerson Investment
12.16.20
Resolution No. 2020-RO439
t.� TEXAS REALTORS
COMMERCIAL CONTRACT ASSIGNMENT OF BUYER'S INTEREST
USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORSO, INC. IS NOT AUTHORIZED.
OTexes Aasoclallon of REALTORSO. Inc. 2014
ASSIGNOR: Wilkerson Investment Co., P. O. Box 2525, Lubbock, TX 79408-2525
ASSIGNEE: City of Lubbock
Address:
Phone: E-mail:
Fax: Other:
SELLER: Fifty U Ltd., 10802 Memphis Drive, Lubbock, TX 79423-3622
PROPERTY: 2015-50th, Lubbock, TX
CONTRACT: A Commercial Contract - D Improved Property ❑ Unimproved Property executed by Assignor
(as Buyer) and Seller concerning the Property, having an effective date of December 16 1 2020
For and in consideration of TEN AND NO/100 DOLLARS ($10.00) and other good and valuable consideration
paid by Assignee to Assignor, Assignor hereby assigns Assignor's interest in the Contract, including
Assignor's interest as Buyer and Assignor's interest in the earnest money in the amount of $
to Assignee, and Assignee hereby assumes all of Assignor's responsibilities and obligations associated with
Assignor's interest in the Contract.
SPECIAL PROVISIONS:
This Assignment shall be effective as of December 16 , 2020
(TXR-1943) 4-1-14 Page 1 of 2
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Commercial Contract Assignment concerning:
Wilkerson Investment Co., P. O. Box 2525,
Assignor: Lubbock. TX 79408.2525
By:
By:
By (signature): - _ /,/s.-.ci... k/..?4we.>__,
Printed Name: a/ayw) wLs-JCEri se/�
Title: P"rNea Dale: 19. - 1G • 2c
By (signature):
Printed Name:
Title:
Date:
Assignee: City of Lubbock
By:
By (signature): AA
Printed Name: e e A
Title: Mayor Pro Tem Date: 12/21/2020
By (signature):
Printed Name:
Title:
Seller consents to the assignment of Assignor's interest in the Contract to Assignee.
Fifty U Ltd., 10802 Memphis Drive, Lubbock, TX
Seller: 79423-3622
By:
By:
By (signature):
Printed NY me: Barry Brown
Title: Date: /J-- i Zo z •-
By (signature):
Printed Name:
Title:
(TXR-1943) 4-1-14
Date:
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Date:
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