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1997-147 ORDINANCE NO. ~ q._/~/Z ~ AN ORDINANCE OF THE CITY OF DENTON, TEXAS AUTHORIZING THE CITY MANAGER TO EXECUTE A CONTRACT BETWEEN THE CITY OF DENTON AND THREE-K CONSTRUCTION, INCORPORATED; AUTHORIZING THE CITY MANAGER TO EXECUTE ANY AND ALL DOCUMENTS NECESSARY TO CONSUMMATE THE PURCHASE OF REAL PROPERTY IN ACCORDANCE WITH SAID CONTRACT, AUTHORIZING THE EXPENDITURE OF FUNDS AND PROVIDING FOR AN EFFECTIVE DATE. THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS' SECTION I. That the C~ty Manager is hereby authorized to execute a contract between the City of Denton and 3-K Construction, a copy of which is attached hereto and ~ncorporated by reference herein SECTION H. That the City Manager ~s hereby authorized to execute any and all documents necessary to consummate the purchase of real property m accordance w~th said Contract SECTION HL That the City Council hereby authorizes the expenditure of funds as provided in the Contract SECTION IV. That this ordmance shall become effective immediately upon ~ts passage and approval PASSED AND APPROVED this thed~t~0/''' day of-- ~ , 1997 ATTEST JENNIFER WALTERS, CITY SECRETARY APP~VED AS TO LEGAL FORM HERBERT L PR. OUTY, CITY ATTOKNEY REAL ESTATE CONTRACT FOR PURCHASE OF RESIDENTIAL PROPERTIES STATE OF TEXAS COUNTY OF DENTON THIS CONTRACT OF SALE is made by and between Three-K Construction (hereinafter referred to as "Seller") and CITY OP 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, the tract of land contalnzng ap- proxmmately 17.860 square feet and situated in Denton County, Texas, being more particularly described ~n Exhibit A attached hereto and incorporated herein by reference for all purposes together with all and singular the rights and appurtenances pertaining to the property, including any right, title and interest of Seller in and to adjacent streets, alleys or rights-of-way (all of such real property, rights, and appurtenances being hereinafter referred to as the "Property"), together with any mmprovements, 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 PUI~CHASE PRICE 1 Amount of Purchase Price The purchase price for the Property shall be the sum of $9.600.00 2 Pa_vT~ent of Purchase Prmce The full amount of the Purchase Price shall be payable in cash at the closing PURCHASER'S OBLIGATIONS The obligations of Purchaser hereunder to consummate the trans- actions 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 Prel~manary T~tle Report Wmthan twenty (20) days after the date hereof, Purchaser, at Purchaser's sole cost and expense, shall have caused the Title Company (hereinafter defined) to issue a prellmlnary title report (the "Tmtle Report") accompanaed by copies of all recorded documents relating to easements, rights-of- way, etc , affecting the Property Purchaser shall give Seller wrmtten notice on or before the expiration of ten (10) days after Purchaser receives the T~tle Report that the condition of title as set forth in the title bander is or is not satisfactory, and in the event Purchaser states the condztlon is not satasfactory, Seller shall, at Seller's option, promptly undertake to eliminate or modafy all unacceptable matters to the reasonable satmsfact~on of Purchaser In the event Seller as unable to do so within ten (10) days after receapt of written notace, this Agreement shall thereupon be null and void for all purposes and the Escrow Deposit shall be forthwith returned by the T~tle Company to Purchaser, otherwise, this condztlon shall be deemed to be acceptable and any objection thereto shall be deemed to have been waived for all purposes 2 ~ Upon written request by Purchaser delivered to Seller contemporaneously with Purchaser's delivery of an executed oraganal of this Agreement, Seller shall within twenty (20) days from the date hereof, at Purchaser's sole cost and expense, deliver to Purchaser a current survey of the Property, prepared by a duly lacensed Texas land surveyor acceptable to Purchaser The survey shall be staked on the ground, and shall show the locataon of all amprovements, hIghways, streets, roads, ramlroads, rivers, creeks, or other water courses, fences, easements, and raghts-of-way on or ad3acent 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 compras~ng the Property, together with a metes and bounds description thereof Purchaser will have ten (10) days after receipt of the survey to revzew and approve the survey In the event the survey ms unacceptable, then Purchaser shall wathan the ten (10) day per~od, gave Seller wratten notice of thas fact Seller shall, at Seller's option, promptly undertake to eliminate or modify the unacceptable portions of the survey to the reasonable satasfactlon of Purchaser In the event Seller is unable to do so wlthan 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 PAGE 2 Purchaser Purchaser's failure to give Seller this written notice shall be deemed to be Purchaser's acceptance of the survey 3 ~ller'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, or trespassers 2 Except for the prior actions of Purchaser, there is no pending or threatened condemnation or similar proceeding or asses- sment affecting 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 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 MISCELLANEOUS OBLIGATIONS OF PARTIES Purchaser agrees to refund sidewalk escrow fees deposited with the City of Denton during the platting process regarding the subject lot CLOSING The closing shall be held at the office of Dentex Title Company PAGE 3 ,300 N. Elm Street, Denton, Texas, on or before ~, 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") CLOSIN~ REQUIREMENTS 1 Seller's Requirements At the closing Seller shall A Deliver to Purchaser a duly executed and acknowledged General Warranty Deed conveying good and marketable title in fee simple to all of the Property, free and clear of any and all liens, encumbrances, conditions, easements, assess- ments, and restrictions, except for the following 1 General real estate taxes for the year of closing (however, Seller shall be responsible for taxes prorated to date of closing) and subsequent years not yet due and payable, 2 Any exceptions approved by Purchaser pursuant to Purchaser's Obligations hereof, and 3 Any exceptions approved by Purchaser in writing B Deliver to Purchaser a Texas Owner's Title Policy 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 Purch- aser's favor in the full amount of the purchase price, insuring Purchaser's fee simple title to the Property subject only to those title exceptions listed in Closlna ~ 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 Title Policy, 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 Seller, 2 The exception as to restrictive covenants shall be endorsed "None of Record", PAGE 4 3 The exception for taxes shall be lzmlted to the year of closln~ and shall be endorsed "Not Yet Due and Payable", and 4 The exceptzon 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 Reau~rements Purchaser shall pay the full cash purchase price to Seller at Closing in immediately available funds 3 ~3~ Through the date of Closing, Seller shall pay all taxes assessed by any tax jurisdiction through the date of Closzng Ail other costs and expenses of closzng in consummatzng the sale and purchase of the Property not specifically allocated here~n shall be equally shared by Purchaser and Seller REAL ESTATE COMMISSION Any real estate commissions occasioned by the consummation of this Agreement shall be the sole responsibility of Seller, and Seller agrees to indemnify and hold harmless Purchaser from any and all claims for these commissions BREACH BY SELLER In the event Seller shall fa~l to fully and tamely perform any of ~ts obligations hereunder or shall fa~l to consummate the sale of the Property except Purchaser's default, Purchaser may either enforce specific performance of this Agreement or termznate this Agreement BREACH BY PURCHASER In the event Purchaser should fall to consummate the purchase of the Property, the condItions to Purchaser's obligations set forth in PURCHASER'S OBLIGATIONS having been satisfied and Purchaser belng in default Seller may either enforce specific PAGE 5 performance of this Agreement, or terminate this Agreement MISCELLANEOUS 1 Assmgnment of Agreement This Agreement may not be assigned by Purchaser without the express written consent of Seller 2 Survival of Covenants Any of the representations, war- rantles, 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 theremn 3 Notice Any notice required or permitted to be delivered hereunder shall be deemed received when sent by United States mall, postage prepaid, certified mall, return receipt requested, addres- sed 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 mn Denton County, Texas 5 ~ 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 unenforceabmllty 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 partmes respecting the within subject matter PAGE 6 8 ~ 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 the sangular 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 suatable for filing of record 11 Complaance In accordance with the requirements of the Texas Real Estate License Act, Purchaser as hereby advased that at should be furnished wath or obtain a polacy of title ansurance or Purchaser should have the abstract covering the Property examined by an attorney of Purchaser's own selection DATED this Z~. ~~ day of ~ , 199~ SELLER PURCHASER THE CITY OF DENTON, TEXAS Ted Benavldes  \ City Manager 215 E McKlnney Thr~e-K Construction Denton, Texas 76201 APPROVED AS TO LEGAL FORM HERBERT L PROUTY, CITY ATTORNEY PAGE 7 STATE OF TE~S CO~TY OF DENTON This instrument was acknowledged before me on this ~day Notary Public in and for Texas STATE OF TE~S CO~TY OF DENTON _~ ~h~ ~nstrument ~s acknowledged before me, on th~s~ day of ~.~ , 199~ by TED BENAVIDES, City Manager, of the City ~ Denton, a municipal corporation, kno~ to me to be the person and officer whose name ~s subscribed to the foregoing · nstrument and acknowledged to me that the same was the act of the said Clty of Denton, Texas, a municipal corporation, that he was duly authorized to perform the same by appropriate ordinance of the City Council of the City of Denton and that he executed the same as the act of the said Clty for purposes and consideration there~n expressed, and in the capacity therein s~d~~ ~~0000~0~ Notary Public 1~ and ~r Texas PAGE 8