1986-011NO
AN ORDINANCE APPROVING A CONTRACT PROVIDING FOR THE PURCHASE OF
REAL PROPERTY BY THE CITY OF DENTON, TEXAS AS DESCRIBED HEREIN,
AUTHORIZING THE EXPENDITURE OF FUNDS THEREFORE, AND PROVIDING
FOR AN EFFECTIVE DATE
THE COUNCIL OF THE CITY OF DENTON, TEXAS, HEREBY ORDAINS
SECTION I
That the City Council of the City of Denton, Texas approves
the Contract of Purchase of Real Property providing for the
purchase of that certain real property described in said
contract attached hereto, by the City of Denton, Texas from
James D Swanson and wife, Jackie V Swanson, in the amount of
Thirty-Four Thousand and Five Hundred Dollars ($34,500 00), in
accordance with the terms and conditions of said contract
SECTION II
That the City Council authorizes the expenditure of funds in
the amount specified in said contract for the purchase of said
real property and authorizes the Mayor and City Manager to
execute any and all documents necessary to consummate said
purchase
SECTION III
That this ordinance shall become effective immediately upon
its passage and approval /
PASSED AND APPROVED this the L- day of , 1986
1
D 0 )bTt;WAW1-, MX?0R-U
CIT OF DE TON, TEXAS
ATTEST
C L , CITY SECRETARY
CITY OF DENTON, TEXAS
APPROVED AS TO LEGAL FORM
DEBRA ADAMI DRAYOVITCH, CITY ATTORNEY
CITY OF DENTON, TEXAS
BY J~ /11i1IILtG 1 /LC~~
1294L
THE. STATE OF TEXAS §
CONTRACT OF PURCHASE OF REAL PROPERTY
COUNTY OF DENTON §
This agreement is made on the 17` day of ,
1986, by and between the City of Denton, Texas a mun c al
corporation, hereinafter referred to as Purchaser and Jame D
Swanson and wife, Jackie V Swanson, hereinafter referred to as
Seller, whether one or more
It is agreed as follows
1 Agreement To Sell and Purchase Seller agrees to sell to
City an C ty agrees to purchase from Seller, upon the terms and
for the consideration set forth in this agreement, all that cer-
tain real property (hereinafter called the "property"), situated
in the City of Denton, County of Denton, State of Texas and
described as follows
BEING lot 4, in Block 3, of OATMAN ADDITION, An Addition
to the City of Denton, Texas, according to the Plat
thereof recorded in Volume 148, page 401, Plat Records,
Denton County, Texas
2 Essccr~owwAAge_nt Lawyers Title Guaranty Company of 513 West
Oak Street~y of Denton, Texas, is hereby designated as
escrow agent and the Purchaser, on execution of this agreement,
shall pay the escrow fee
3 Purchase Price The total purchase price of Thirty-four
Phousan Five Hun re and No/100 Dollars ($34,500 00), which sum
shall be the sole compensation due Seller for any and all claims
of any description whatever arising out of the Purchaser's
acquisition or use of the property for public purposes, is to be
payable to Lawyers Title Guaranty Company, as escrow agent as
follows
(a) One Thousand and No/100ths Dollars ($1,000 00) on the
execution of this agreement, payable to Lawyers Title
Guaranty Company as earnest money
(b) The balance, in cash at closing on delivery to the
escrow agent of a general warranty deed with full
covenants, duly executed in proper form for recording so
as to convey to the Purchaser a good and marketable
record and title to the land free and clear of all
recorded and unrecorded liens, assessments, leases,
taxes, and encumbrances, restrictions and conditions,
except public easements and rights-of-way of record
Purchaser shall take possession on the date of closing
4 Title Insurance Policy The Seller agrees, prior to the
closing, to procure at the Purchaser's cost, from Lawyers Title
Guaranty Company, or another title company of Seller's choice
acceptable to the Purchaser, a preliminary title report agreeing
to ensure marketable title to the Purchaser in the full amount
of the purchase price and to obtain such policy to be issued by
Lawyers Title Guaranty Company, or such other approved title
company
5 Effect of Defective Title Should the title prove
defective in the opinion o the urchaser's attorney, then such
defect shall be pointed out in writing by letter delivered to
defect shall be pointed out in writing by letter delivered to the
Seller after the delivery of such preliminary title report, and
the Seller shall have sixty (60) days thereafter in which to cure
such defects or, if agreed to by Purchaser in writing, prior to
closing
6 Fees, Charges and Costa The Purchaser shall pay all
recording fees, title searches, reconveyance fees, trustees' fees,
forwarding fees for any full reconveyance of any deed of trust,
and the premium charged for any policy of title insurance arising
out of this transaction
7 Inability to Conve Title In the event Seller is unable
to convey goo an mar eta le record and title to the land as
provided for herein in the opinion of the Purchaser, then this
agreement shall terminate and any amount tendered by Purchaser
shall be returned to Purchaser
8 Cl~osinF2Date The transactions shall be closed on or
before one hundred eighty (180) calendar days from the date of
acceptance of this agreement by the Seller and Purchaser, or at
such other time as the parties may mutually agree, at the office
of the escrow agent or at such other location as is mutually
agreeable to the parties herein
9 Inge ration This agreement constitutes the entire agree-
ment between the parties and neither party relies upon any
warrants or representation not contained herein
In witness whereof, the parties have executed this agreement
on the date first above written
CITY OF DENTON, PURCHASER
BY
i
D
TE
,
ATTEST
CHARL L , CITY SECRETARY
~A
CITY OF DENTON, TEXAS
APPROVED AS TO LEGAL FORM
DEBRA ADAMI DRAYOVITCH, CITY ATTORNEY
CITY OF DENTON, TEXAS
BY
G %
0
SELLER
BY I if LOA". P-)
*7J4ES- ANSON
BY ~â/uC ~c Z/ Y âJC yGf~d~rr /
JA KIE V SW NSON
PAGE TWO
THE STATE OF TEXAS §
COUNTY OF DENTON §
This instrument was acknowledged before me on the G day
of , 1986 by Richard 0 Stewart, Mayor of~ City
of~, exas, a Municipal Corporation, on behalf of said
Municipal Corporation
-NOTARY PUBLIC, STATE TEXAS
My Commission expires
THE STATE OF TEXAS §
COUNTY OF DENTON §
This instrument was acknowledged before me on a 70~&day of
4ftp,4A,, , 1986 by James D Swanson
NOTARY PUBLIC, STATE OF TEXAS
Sc4F -R SHgct/
My Commission expires i_2_/8-8d,
THE STATE OF TEXAS §
COUNTY OF DENTON §
This instrument was acknowledged before me on a 70tQ- day of
adme,â /sue , 1986 by Jackie V Swanson
NOTARY PUBLIC, STATE OF TEXAS
SUt ~ SH+9t~
My Commission expires
PAGE THREE