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2001-455 ORDINANCE NO fl4 /- AN ORDINANCE APPROVING A REAL ESTATE CONTRACT BETWEEN THE CITY OF DENTON AND MILDRED M COCKRELL REBATING TO THE PURCHASE OF APPROXIMATELY 1 16 ACRES OF LAND BEING A TRACT CONVEYED TO JUDD D COCKRELL AND WIFE, MILDRED M COCKRELL BY DEED RECORDED IN VOLUME 343, PAGE 432 OF THE DEED RECORDS OF DENTON COUNTY, TEXAS, LOCATED IN THE B B B & C R R SURVEY, ABSTRACT NO 186, FOR USE AS DRAINAGE, AUTHORIZING THE EXPENDITURE OF FUNDS THEREFOR, AND PROVIDING AN EFFECTIVE DATE THE COUNCIL OF THE CITY OF DENTON, TEXAS HERBY ORDAINS SECTION 1 The City Manager is hereby authorized to execute a Real Estate Contract between the City and Mildred M Cockrell, in substantially the form of the Real Estate Contract which is attached hereto and made a part of this ordinance for all purposes, for the purchase of approximately 1 16 acres for use as drmnage 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 ANDAPPROVEDthlsthe~/?b/t~j~ dayof ~~ ,2001 EULINE BROCK, MAYOR ATTEST JENNIFER WALTERS, CITY SECRETARY Ap vEo x TO LEGA' O HEKI~ERT L 2 ~flJTY, J~/ffY ATTORNEY REAL ESTATE CONTRACT STATE OF TEXAS COUNTY OF DENTON THiS CONTRACT OF SALE ~s made by M~ldred M Cockrell, w~dow of Judd M Cockrell (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 here~n 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 descrlbed ~n the conveyance to Judd D Cockrell and w~fe, M~ldred M Cockrell by deed recorded in Volume 343, Page 432 of the Deed Records of Denton County, Texas w~th all r~ghts and appurtenances pertaining to the sa~d property, · ncludlng any r~ght, t~tle and ~nterest of Seller an 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 lmprovements, f~xtures, and personal property situated on and attached to the Property, for the cons&derat~on and upon and subject to the terms, provisions, and conditions hereinafter set forth PURCHASE PRICE I Amount of Purchase Price The total purchase price for the Property shall be the sum of Forty-Five Thousand Four Hundred and Seventy-Slx Dollars and S~xty-Four Cents ($45,476 64) (the "Purchase Price") 2 Pa~ent of Purchase Price The full amount of the Purchase Price shall be payable ~n cash at the closing PURCHASER ~ S OBLIGATIONS The obligations of Purchaser hereunder to consummate the transactions contemplated hereby are sub3ect to the satisfaction of each of the following conditions any of which may be waived ~n whole or ~n part by Purchaser at or prior to the closing i Prel~m~nar~ T~tle Report W~th~n twenty (20) days after the date hereof, Sallar, at Purchaser's sola cost and axpense, shall have caused tha Txtle Company (hareanafter defaned) to assue ~ owner's polacy commatment (the "Commatment") accompanaed by cop~es of all recorded documents relatang to easements, raghts-of-way, etc , affectang the Property Purchaser shall gave Seller wratten notace on or before the exparataon of ten (10) days after Purchaser receaves the Commatment that the condataon of tatle as set forth an the Commatment as or as not satasf&ctory In the event Purchaser states the condataon of tatle ~s not satasfactory, Seller shall, at Seller's optaon, promptly undartake to elamanate or modafy all unacceptable matters to the reasonable satasfactaon of Purchaser In the event Seller as unable to do so wathan ten (10) days after receapt of wratten notace, thas Agreement shall thereupon be null and voxd for all purposes, otherwase, thas condataon shall be deemed to be acceptable and any ob]ectaon thereto shall be deemed to have been waaved for all purposes 2 Surve~ Purchaser may, at Purchaser's sole cost and expense, obtaan 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 locatxon of all amprovements, haghways, streets, roads, raalroads, ravers, creeks, or other water courses, fences, easements, and rights-of- way on or adjacent to the Property, af any, and shall contaan the surveyQr's certafacataon that there are no encroachments on the Property and shall set forth the number of total acres comprxsang the Property, together wath a metes and bounds descraptaon thereof Purchaser wall have ten (10) days after receapt of the survey to revaew and approve the survey In the event the survey as unacceptable, then Purchaser shall wathan the ten (10) day perxod, gave Seller wrattan notace of thas fact Seller shall, at Seller's optaon, promptly undertake to elamanate or modafy the unacceptable portaons of the survey to the reasonable satasf&ctxon of Purchaser In the event Seller as unable to do so w~than ten (10) days after receapt of wratten notace, Purchaser, at ats optaon may elect to termanate thxs Agreement (an whxch event thas Agreement shall be null and road), grant Seller, addatxonal tame to cure, or proceed to closang Purchaser's faalure to gave Seller thms wratten notace shall be deemed to be Purchaser's acceptance of the survey PAGE 2 3 Seller's Compliance Seller shall have performed, ob- served, and compiled w~th all of the covenants, agreements, and cond~tLons required by th~s Agreement to be performed, observed, and compiled wLth by Seller prlor to or as of the closLng REPRESENTATIONS AND WARRANTIES OF SELLER Seller hereby represents and warrants to Purchaser as follows, whLch representatLons and warrantLes shall be deemed made by Seller to Purchaser also as of the closang date i There are no partLes an possessaon of any portLon of the Property as lessees, tenants at sufferance, trespassers or other partLes 2 Exoept for the prLor actaons of Purchaser, there as no pendLng or threatened condemnatLon or samalar proceedLng or assessment or suLt, affectlng tatle to the Property, or any part thereof, nor to the best knowledge and belaef of Seller as any such prooeedLng or assessment contemplated by any governmental authorLty 3 Seller has compiled wLth all applicable laws, ordanances, regulatLons, statutes, rules and restractLons relatang to the Property, or any part thereof 4 To the best of the seller's knowledge, there are no toxLc or hazardous wastes or materLals on or wathan the Property Such toxac or hazardous wastes or materials anclude, but are not 1Lm~ted to, hazardous materLals or wastes as same are defLned by the Resource ConservatLon and Recovery Act (RCRA), as amended, and the Comprehenslve Envaronmental Response CompensatLon and LaabLlity Act (CERCLA), as amended CLOSING The closLng shall be held at the offLce of Texas Tatle Company, 2215 S Loop 288, Sulte 320, Denton, Texas 76205 on or before December 21, 2001, or at such tatle company, tame, date, and place as Seller and Purchaser may mutually agree upon (whach date as hereLn referred to as the "closang date") CLOSING REQUIREMENTS I Seller's Rec~uarements At the closang Seller shall A DelLver to the Caty of Denton a duly executed and PAGE 3 acknowledged General Warranty Deed conveyang good and marketable tatle an fee sample to all of the Property, free and clear of any and all laens, encumbrances, condltaons, assessments, and restractaons, except for the following i General real estate taxes for the year of closing and subsequent years not yet due and payable, 2 Any exceptaons approved by Purchaser pursuant to Purchaser's Obla~ataons here- of, and 3 Any exceptions approved by Purchaser an wrat~ng B Deliver to Purchaser a Texas Owner's Polacy of Title Insurance at Purchaser's sole expense, assued by Texas Title Company, Denton, Texas, (the "Tatle Company"), or such tatle company as Seller and Purchaser may mutually agree upon, an Purchaser's favor an the full amount of the purchase prace, ansurang fee sample tatle for the C~ty of Denton to the Property sub3ect only to those t~tle exceptions l~sted ~n Closang Requirements hereof, such other exceptaons as may be approved an wrltang by Purchaser, and the standard pranted exceptaons contaaned an the usual form of Texas Owner's Polacy of Tatle Insurance, provaded, however i The boundary and survey exceptaons shall be deleted ~f requaredby Purchaser and af so required, the costs associated w~th same shall be borne by Purchaser, 2 The exception as to restract~ve cove- nants shall be endorsed "None of Record", 3 The exceptaon for taxes shall be l~mated to the year of closang and shall be endorsed "Not Yet Due and Payable", and 4 The exception as to laens encumberang the Property shall be endorsed "None of Record" PAGE 4 C Deliver to Purchaser possession of the Property on the day of closing 2 Purchaser's Re~ulrements Purchaser shall pay the conslder&t~on as referenced in the "Purchase Price" section of this contract at Closing in ~mmed~ately available funds 3 Closln~ Costs Seller shall pay all taxes assessed by any tax collection authority through the date of Closing All other costs and expenses of closing ~n consummating the sale and purchase of the Property not specifically allocated here~n shall be paid by Purchaser and Seller, except for Seller's attorney fees REAL ESTATE CO~ISSION Seller and Purchaser represent and warrant to each other that neither has retained a broker for th~s transaction and that there are no broker or real estate fees due as a result of the consummation of this contract BREACH BY SELLER In the event Seller shall fall to fully and timely perform any of its obligations hereunder or shall fa~l to consummate the sale of the Property except Purchaser's default, Purchaser may e~ther enforce specific performance of th~s Agreement or term~n&te th~s Agreement by written not~ce delivered to seller BREACH BY PURCHASER In the event Purchaser should fall to consummate the purchase of the Property, the conditions to Purchaser's obligations set forth an PURCHASER'S OBLIGATIONS having been satisfied and Purchaser being In default Seller may e~ther enforce specific perfor~ence of th~s Agreement, or terminate this Agreement by written notice delivered to purchaser MISCELLANEOUS i Assignment of A~reement Th~s Agreement may be assigned by Purchaser w~thout the express written consent of Seller 2 Survival of Covenants Any of the representations, war- rantleB, covenants, and agreements of the parties, as well as any r~ghts end benefits of the part~es, pertaining to a per~od of PAGE 5 tame followang the closang of the transactaons contemplated hereby shall survave the closang and shall not be merged therean 3 Notace Any notace requared or permatted to be delavered hereunder shall be deemed receaved when sent by Unated States maal, postage prepaad, certafaed maal, return receapt requested, addressed to Seller or Purchaser, as the case may be, at the address set forth beneath the sagnature of the party 4 Texas Law to ADDly This Agreement shall be construed under and an accordance with the laws of the State of Texas, and all oblagatlons of the parties created hereunder are performable an Denton County, Texas 5 Part~es Bound Thas Agreement shall be bandang upon and anure to the benefit of the part~es and thear respectave hears, executors, administrators, legal representataves, successors and assagns where permattedby thas Agreement 6 Legal Constructaon In case any one or more of the pro- vasaons contaaned an thas Agreement shall for any reason be held to be invalid, allegal, or unenforceable an any respect, saad valadaty, allegalaty, or unenforceabalaty shall not affect any other provaslon hereof, and this Agreement shall be construed as af the anvalad, allegal, or unenforceable provasaon had never been contaaned herean 7 Prior A~reements Superseded Thas Agreement constatutes the sole and only agreement of the partaes and supersedes any praor understandangs or wratten or oral agreements between the partaes respectang the wathan subject matter 8 Tame of Essence Tame as of the essence an thas Agreement 9 Gender Words of any gender used an thas Agreement shall be held and construed to anclude any other gender, and words the sangular number shall be held to anclude the plural, and v~ce versa, unless the context requares otherwase 10 Memorandum of Contract Upon request of eather party, both partaes shall promptly execute a memorandum of thas Agreement suatable for falang of record 11 Com~laance In accordance wath the requarements of the Texas Real Estate Lacense Act, Purchaser as hereby advased that at should be furnashed wath or obtaan a polacy of tatle ansurance PAGE 6 or Purchaser should have the abstract covering the Property examined by an attorney of Purchaser's own select~on 12 T~me L~mlt In the event a fully executed copy of th~s Agreement has not been returned to Purchaser w~thln ten (10) days after Purchaser executes this Agreement and delivers same to Sel- ler, Purchaser shall have the r~ght to terminate th~s Agreement upon written not~ce to Seller 13 Effective Date The term "Effective Date" means the latter of the dates on which th~s Contract Ks s~gned by e~ther Sellers or Purchaser, as ~nd~cated by their s~gnature below If the last party to execute th~s Contract fa~ls to complete the date of execution below that party's s~gnature, the date the T~tle Company acknowledges receipt of a copy of th~s fully executed contract ~s the Effective Date IN WITNESS WHEREOF, Seller and Purchaser have executed th~s contract as follows SELLER PURCHASER By BY M~ldred M Cockrell Michael A Conduff C~ty Manager Date 215 E McK~nney Denton, Texas 76201 Date STATE OF TEXAS COUNTY OF DENTON Th~s ~nstrument Ks acknowledged before me, on th~s -- day of , 2001 by M~chael A Conduff, C~ty Manager, of the C~ty of Denton, a mun~c~p&l corporation, known to me to be the PAGE 7 person and off=cer whose name is subscribed to the foregoing anstrument and acknowledged to me that the same was the act of the sa.~d City of Denton, Texas, a municipal corporation, that he was du~y authorized to perform the same by appropraate ordinance of the City Council of the C~ty of Denton and that he executed the same as the act of the saad Caty for purposes and consideration therean expressed, and an the capacity therean stated Notary Publac an and for the State of Texas STATE OF TEXAS COUNTY OF DENTON Thas instrument ~s acknowledged before me, on th~s day of , 2001 Mildred Cockrell Notary Publac an and for the State of Texas TITLE COMPANY ACCEPTANCE AND ACKNOWLEDGEMENT The T~tle Company acknowledges receapt of the fully executed Contract on day of , 2001 TITLE COMPANY Name Texas T1tle Company Address 2215 S Loop 288, Suite 320 Denton, Texas 76205 TelephOne 940-382-8251 Prznte~ Name Tatle PAGE 8