HomeMy WebLinkAbout2000-413S \Our Documents\0rdinances\00\Bmewood Ordinance doe
ORDINANCE NO ;,) tz>o - y 1 ;S
AN ORDINANCE APPROVING A REAL ESTATE CONTRACT BETWEEN THE CITY OF
DENTON AND BRAEWOOD PARTNERS, LTD RELATING TO THE PURCHASE OF
APPROXIMATE 0 0432 ACRE OF LAND BEING LOCATED IN THE NATHAN WADE
SURVEY, ABSTRACT NO 1407 OF DENTON COUNTY TEXAS FOR THE US
HIGHWAY 77 PROJECT, WITH TITLE VESTING IN THE STATE OF TEXAS,
AUTHORIZING THE EXPENDITURE OF FUNDS THEREFOR, AND PROVIDING AN
EFFECTIVE DATE
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
SECTION 1 The City Manager is hereby authorized to execute a Real Estate Contract
between the City of Denton and Braewood Partners, Ltd in substantially the form of the Real
Estate Contract which is attached to and made a part of this ordinance for all purposes, for the
purchase of approximately 0 0432 acre of land for the U S Highway 77 Project, with title
vesting in the State of Texas
SECTION 2 The City Manager is authorized to make the expenditures as set forth in the
attached Real Estate Contract
SECTION 3 This ordinance shall become effective immediately upon its passage and
approval
PASSED AND APPROVED this the 'I 1-K day of Il O ec , 2000
EULINE BROCK, MAYOR
ATTEST
JENNIFER WALTERS, CITY SECRETARY
APPROVEDBY *4jlj�
• LEGALJORM
REAL ESTATE CONTRACT
STATE OF TEXAS
COUNTY OF DENTON
THIS CONTRACT OF SALE is made by and between BRAZWOOD
PARTNERS, LTD. (hereinafter referred to as "Seller") and CITY OF
DENTON, TEXAS, a home rule municipality, of Denton, Denton
County, Texas, (hereinafter referred to as "Purchaser"), upon the
terms and conditions set forth herein.
PURCHASE AND SALE
Seller hereby sells and agrees to convey, and Purchaser
hereby purchases and agrees to pay for all that certain tract,
lot or parcel of land described in Exhibit "A" attached with all
rights and appurtenances pertaining to the said property,
including any right, title and interest of Seller in and to
adjacent streets, alleys or rights -of -way (all of such real prop-
erty, rights, and appurtenances being hereinafter referred to as
the "Property"), together with any improvements, fixtures, and
personal property situated on and attached to the Property, for
the consideration and upon and subject to the terms, provisions,
and conditions hereinafter set forth. Seller shall pay all cost
for the removal, installation, construction, reinstallation,
reconstruction, labor and materials for any and/or improvements
located within the property described in Exhibit "A". Any
improvements not removed by December 31, 2000 shall become
property of the City of Denton, Texas.
PURCHASE PRICE
1. Amount of Purchase Price. The purchase price for the
Property shall be the sum of $500.00. An additional amount of
$500.00 to be paid for fence replacement. A total purchase price
of $1,000.00 to be paid to Seller.
2. Payment of Purchase Price. The full amount of the
Purchase Price shall be payable in cash at the closing.
S OBLIGATIONS
The obligations of Purchaser hereunder to consummate the
DISK 5
transactions contemplated hereby are subject to the satisfaction
of each of the following conditions any of which may be waived in
whole or in part by Purchaser at or prior to the closing.
1. Preliminary Title Report. within twenty (20) days after
the date hereof, Seller, at Seller's sole cost and expense, shall
have caused the Title Company (hereinafter defined) to issue a
owners policy commitment (the "Commitment") accompanied by copies
of all recorded documents relating to easements, rights -of -way,
etc., affecting the Property. Purchaser shall give Seller
written notice on or before the expiration of ten (10) days after
Purchaser receives the Commitment that the condition of title as
set forth in the Commitment is or is not satisfactory. In the
event Purchaser states the condition of title is not
satisfactory, Seller shall, at Seller's option, promptly
undertake to eliminate or modify all unacceptable matters to the
reasonable satisfaction of Purchaser. In the event Seller is
unable to do so within ten (10) days after receipt of written
notice, this Agreement shall thereupon be null and void for all
purposes; otherwise, this condition shall be deemed to be
acceptable and any objection thereto shall be deemed to have been
waived for all purposes.
2. Survey. Purchaser may, at Purchaser's sole cost and
expense, obtain a current survey of the Property, prepared by a
duly licensed Texas land surveyor acceptable to Purchaser. The
survey shall be staked on the ground, and shall show the location
of all improvements, highways, streets, roads, railroads, rivers,
creeks, or other water courses, fences, easements, and rights -of -
way on or adjacent to the Property, if any, and shall contain the
surveyor's certification that there are no encroachments on the
Property and shall set forth the number of total acres comprising
the Property, together with a metes and bounds description
thereof.
Purchaser will have ten (10) days after receipt of the survey
to review and approve the survey. In the event the survey is
unacceptable, then Purchaser shall within the ten (10) day
period, give Seller written notice of this fact. Seller shall,
at Seller's option, promptly undertake to eliminate or modify the
unacceptable portions of the survey to the reasonable
satisfaction of Purchaser. In the event Seller is unable to do
so within ten (10) days after receipt of written notice,
Purchaser may terminate this Agreement, and the Agreement shall
thereupon be null and void for all purposes and the Escrow
PAGE 2
Deposit shall be returned by the Title Company to Purchaser.
Purchaser's failure to give Seller this written notice shall be
deemed to be Purchaser's acceptance of the survey.
3. Seller's Compliance. Seller shall have performed, ob-
served, and complied with all of the covenants, agreements, and
conditions required by this Agreement to be performed, observed,
and complied with by Seller prior to or as of the closing.
REPRESENTATIONS AND WARRANTIES OF SELLER
Seller hereby represents and warrants to Purchaser as
follows, which representations and warranties shall be deemed
made by Seller to Purchaser also as of the closing date:
1. There are no parties in possession of any portion of the
Property as lessees, tenants at sufferance, trespassers or other
parties.
2. Except for the prior actions of Purchaser, there is no
pending or threatened condemnation or similar proceeding or
assessment or suit, affecting title to the Property, or any part
thereof, nor to the best knowledge and belief of Seller is any
such proceeding or assessment contemplated by any governmental
authority.
3. Seller has complied with all applicable laws, ordinances,
regulations, statutes, rules and restrictions relating to the
Property, or any part thereof.
4. To the best of the seller's knowledge, there are no toxic
or hazardous wastes or materials on or within the Property. Such
toxic or hazardous wastes or materials include, but are not
limited to, hazardous materials or wastes as same are defined by
the Resource Conservation and Recovery Act (RCRA), as amended,
and the Comprehensive Environmental Response Compensation and
Liability Act (CERCLA), as amended.
CLOSING
The closing shall be held at the office of First American
Title Insurance Company (formerly Dentex) on or before November
30, 2000, or at such title company, time, date, and place as
Seller and Purchaser may mutually agree upon (which date is
herein referred to as the •closing date").
PAGE 3
CLOSING REQUIREMENTS
1. Seller's Requirements. At the closing Seller shall:
A. Deliver to State of Texas, acting by and through the
Texas Transportation Commission a duly executed and
acknowledged Deed in the form as attached hereto as
Exhibit �Bm conveying good and marketable title to all of
the Property, free and clear of any and all liens,
encumbrances, conditions, easements, assessments, and
restrictions, except for the following:
1. General real estate taxes for the
year of closing and subsequent years not
yet due and payable;
2. Any exceptions approved by Purchaser
pursuant to Purchaser's Obligations here-
of] and
3. Any exceptions approved by Purchaser
in writing.
E. Deliver to Purchaser a Texas Owner's Policy of Title
Insurance at Purchaser's sole expense, issued by Dentex
Title Company, Denton, Texas, (the "Title Company"), or
such title company as Seller and Purchaser may mutually
agree upon, in Purchaser's favor in the full amount of
the purchase price, insuring fee simple title for the
State of Texas to the Property subject only to those
title exceptions listed in Closing Requirements hereof,
such other exceptions as may be approved in writing by
Purchaser, and the standard printed exceptions contained
in the usual form of Texas Owner's Policy of Title
Insurance, provided, however:
1. The boundary and survey exceptions
shall be deleted if required by Purchaser
and if so required, the costs associated
with same shall be borne by Purchaser;
2. The exception as to restrictive cove-
nants shall be endorsed "None of Record";
3. The exception for taxes shall be
PAGE 4
limited to the year of closing and shall
be endorsed "Not Yet Due and Payable"s
and
4. The exception as to liens encumbering
the Property shall be endorsed "None of
Record".
C. Deliver to Purchaser possession of the Property on
the day of closing.
2. Purchaser's Requirements. Purchaser shall pay the
consideration as referenced in the "Purchase Price" section of
this contract at Closing in immediately available funds.
3. Closing Costs. Seller shall pay all taxes assessed by
any tax collection authority through the date of Closing. All
other costs and expenses of closing in consummating the sale and
purchase of the Property not specifically allocated herein shall
be paid by Purchaser and Seller, except for Seller's attorney
fees.
REAL ESTATE COMMISSION
All obligations of the Seller and Purchaser for payment of
brokers' fees are contained in separate written agreements.
BREACH BY SELLER
in the event Seller shall fail to fully and timely perform
any of its obligations hereunder or shall fail to consummate the
sale of the Property except Purchaser's default, Purchaser may
either enforce specific performance of this Agreement or
terminate this Agreement by written notice delivered to seller.
BREACH BY PURCHASER
In the event Purchaser should fail to consummate the purchase
of the Property, the conditions to Purchaser's obligations set
forth in PURCHASER'S OBLIGATIONS having been satisfied and
Purchaser being in default Seller may either enforce specific
performance of this Agreement, or terminate this Agreement by
written notice delivered to purchaser.
PAGE 5
MISCELLANEOUS
1. Assignment of Agreement. This Agreement may be assigned
by Purchaser without the express written consent of Seller.
2. Survival of Covenants. Any of the representations, war-
ranties, covenants, and agreements of the parties, as well as any
rights and benefits of the parties, pertaining to a period of
time following the closing of the transactions contemplated
hereby shall survive the closing and shall not be merged therein.
3. Notice. Any notice required or permitted to be delivered
hereunder shall be deemed received when sent by United States
mail, postage prepaid, certified mail, return receipt requested,
addressed to Seller or Purchaser, as the case may be, at the
address set forth beneath the signature of the party.
4. Texas Law to Apply. This Agreement shall be construed
under and in accordance with the laws of the State of Texas, and
all obligations of the parties created hereunder are performable
in Denton County, Texas.
5. Parties Sound. This Agreement shall be binding upon and
inure to the benefit of the parties and their respective heirs,
executors, administrators, legal representatives, successors and
assigns where permitted by this Agreement.
6. Legal Construction. In case any one or more of the pro-
visions contained in this Agreement shall for any reason be held
to be invalid, illegal, or unenforceable in any respect, said in-
validity, illegality, or unenforceability shall not affect any
other provision hereof, and this Agreement shall be construed as
if the invalid, illegal, or unenforceable provision had never
been contained herein.
7. Prior Agreements Superseded. This Agreement constitutes
the sole and only agreement of the parties and supersedes any
prior understandings or written or oral agreements between the
parties respecting the within subject matter.
8. Time of Essence. Time is of the essence in this
Agreement.
9. Gender. Words of any gender used in this Agreement shall
be held and construed to include any other gender, and words in
PAGE 6
the singular number shall be held to include the plural, and vice
versa, unless the context requires otherwise.
10. Memorandum of Contract. Upon request of either party,
both parties shall promptly execute a memorandum of this
Agreement suitable for filing of record.
11. Compliance. In accordance with the requirements of the
Texas Real Estate License Act, Purchaser is hereby advised that
it should be furnished with or obtain a policy of title insurance
or Purchaser should have the abstract covering the Property
examined by an attorney of Purchaser's own selection.
12. Time Limit. In the event a fully executed copy of this
Agreement has not been returned to Purchaser within ten (10) days
after Purchaser executes this Agreement and delivers same to Sel-
ler, Purchaser shall have the right to terminate this Agreement
upon written notice to Seller.
DATED this day of 2000.
PARTNERS, LTD.
NAME /95k••+ K4R4A-)oL)/l
TITLE A44Ali46Ett
Approved as to Legal Form:
Herbert L. Prouty, City Attorney
BY:
PAGE 7
PURCHASER
THE CITY OF DENTON, TEXAS
r
B ,ii
Mic el 9 z
Cit Manager
215 E. McKinney
Denton, Texas 76201
STATE OF TEXAS
COUNTY OF DENTON
This instrument is acknowledged before me, on this day of
2000_ by /-S.¢.r1irii�
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SRI
ROGER N WILKINSON & ,�
1 pQ Notary Public State Of Texas N ry Public in and +for
j{My Commission Expires ft3j '_ the State of Texas
O000000000000000000co0fx,rn
STATE OF TEXAS
COUNTY OF DENTON
s ins ument is acknowledged before me, on this 1 day of_
2000 by Michael W. Jea, City Manager, of the City
o Denton, a municipal corporation, known to me to be the person
and officer whose name is subscribed to the foregoing instrument
and acknowledged to me that the same was the act of the said City
of Denton, Texas, a municipal corporation, that he was duly
authorised to perform the same by appropriate ordinance of the
City Council of the City of Denton an at he executed the same
as the act of the said City for /uL`_oses and consideration
therein expressed, and in the capaci y herein Atated.
ANN FORSYTHE
' `01 Notary Public, State Of Texas Not rY Public in a for
'AV 00mm1111anExPiffs the State of Texas
MAY 9, 2002
PAGE 8
EXHIBIT "A"
County Denton Page 1 of 2
Highway US 77 March 31, 2000
Project Lariats From I H 30
To U S 380
CSJ 0195-02
Acct
Legal Land Description for Parcel 9A
BEING 1,880 square feet of land, more or less, situated in the Nathan Wade Survey, Abstract
Number 1407, Denton County, Texas and being part a tract of land described to John Linn Smith
and wife, Dorothy Smith, an undivided forty-four percent (44%), and to Dillon Francis Smith and
wife, Earla Joyce Smith, an undivided fifty-six percent (56%), by a Substitute Trustees Deed as
recorded in Volume 3071 Page 89, Deed Records, Denton County, Texas, said 1,800 square feet
of land being more particularly described by the metes and bounds as follows
COMMENCING at a fence corner post being in a south line of said Snuth tract of land and in the
west prescriptive nght of way line of Bonnie Brae Road,
THENCE South 88 degrees 49 minutes 10 seconds East along a south line of said Smith tract of
land for a distance of 34 33 feet to an ell corner of said South tract of land and in the west line of
a tract of land conveyed to Electronic Data Systems Corporation Retirement Plan and Trust by
deed as recorded in Volume 1681 Page 867, Deed Records, Denton County, Texas in Bonnie
Brae Road,
THENCE North 00 degrees 54 minutes 02 seconds East along the common line of said Smith
tract of land and said Electronic Data Systems tract of land and in Bonnie Brae Road for a
distance of 1,859 30 feet to a P K nail and washer found in the new western right of way line of
Bonnie Brae Road and being the POINT OF BEGINNING,
(1) THENCE South 87 degrees 00 minutes 39 seconds West along the new western right of
way line of Bonnie Brae Road for a distance of 40 42 feet to an iron rod with aluminum
cap set at an angle point,
(2) THENCE North 02 degrees 59 minutes 21 seconds West along the new western right of
way line of Bonnie Brae Road for a distance of 46 49 feet to an iron rod with aluminum
cap set in the common property line of Smith tract and a tract of land conveyed to T I
239 B Joint Venture by deed as recorded in Volume 2432 Page 21, Deed Records, Denton
County, Texas,
EXHIBIT "A"
County Denton Page 2 of 2
Highway U S 77 March 31, 2000
Project Lirmts From I H 30
To U S 380
CSJ 0195-02
Acct
Legal Land Description for Parcel 9A
(3) THENCE South 88 degrees 36 minutes 24 seconds East along the common property line
of said Smith tract of land and said T I tract of land passing at 10 44 feet the southeast
comer of said T I tract of land and continuing along the northern line of said Smith tract
of land of a total distance of 43 48 feet to a iron rod found at the northeast corner of said
Smith tract of land and in the western line of said Electronic Data Systems tract of land
and in Bonnie Brae Road,
(4) THENCE South 00 degrees 54 minutes 02 seconds West along the common property line
of said Smith tract of land and said Electronic Data Systems tract of land for a distance of
43 27 feet to the POINT OF BEGINNING and containing 1,880 square feet of land, more
or less
All heanngs aze on the Texas State Plane Coordinate System, North Central Zone. N A D 27
I