Contract - Steven and Linda Redden - 9/14/2017 REAL ESTATE CONTRACT
RM 620 Right of Way—Parcel 16
THIS REAL ESTATE CONTRACT ("Contract") is made by and between STEVEN W.
REDDEN and LINDA J. REDDEN, (referred to in this Contract as "Seller", whether one or more)
and the CITY OF ROUND ROCK, TEXAS (referred to in this Contract as "Purchaser"), upon the
terms and conditions set forth in this Contract.
ARTICLE I
PURCHASE AND SALE
By this Contract, Seller sells and agrees to convey, and Purchaser purchases and agrees to
pay for, the tract(s) of land described as follows:
All of that certain 0.071 acre (3,107 square foot) tract of land, out of and situated
in the J.M. Harrell Survey, Abstract No. 284, in Williamson County; being more
fully described by metes and bounds in Exhibit "A", attached hereto and
incorporated herein(Parcel 16);
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 referred to in this Contract as the "Property"), and
any improvements and fixtures situated on and attached to the Property described herein not
otherwise retained by Seller, for the consideration and upon and subject to the terms, provisions,
and conditions set forth below.
ARTICLE II
PURCHASE PRICE
Purchase Price
2.01. The initial Purchase Price for the portion of the Property and the acquisition of any
improvements, and any damage or cost of cure for the Property, shall be the sum of SEVENTY-
ONE THOUSAND SIX HUNDRED and 00/100 Dollars ($71,600.00).
As compensation to Purchaser for the Retained Improvements described below, Purchaser
shall receive a credit to the Purchase Price of TWENTY-ONE and no/100 Dollars ($21.00),
making the net Purchase Price due and owing to Sellers at Closing the sum of SEVENTY-ONE
THOUSAND FIVE HUNDRED SEVENTY-NINE and no/100 Dollars ($71,579.00).
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Retained Improvements
2.01.1. It is understood and agreed that Seller is retaining title to the following
improvements ("Retained Improvements") located on the Property or bisected by the
acquisition, to wit: Covered Rear Deck (Bisection Category II), Sidewalk, Wood Fence, Storage
Shed, Landscaping.
Such improvements shall be removed from the premises hereby conveyed by the Seller at their
own expense on or before the 1st day of November, 2017, subject, however, to such extensions of
time as may be granted by Purchaser or the State of Texas in writing, but in the event Seller fails
for any reason to remove said improvements within the time herein provided for, title to that
portion of said improvements located upon the premises hereby conveyed shall immediately vest
in the State of Texas, all for the same consideration herein above recited.
Seller specifically understands and agrees that in the event title to the aforesaid portion of the
bisected improvements passes to the State, the State will cut said bisected improvement at the line
of bisection and remove said portion of the bisected improvements from the above-described
property, and Seller hereby authorizes Purchaser and/or the State, its agents or assigns, to enter
upon the Seller's remaining property (out of which the above-described property was conveyed),
for the purpose of making such cuts and removing said improvements and Seller expressly waives
all damages or claims that may result to the remaining property of the Seller or damages that may
result to the remainder of said improvements by reason of said entry, cutting, and removal of said
improvements.
Payment of Purchase Price
2.02. The Purchase Price shall be payable in cash at the Closing.
ARTICLE III
PURCHASER'S OBLIGATIONS
Conditions to Purchaser's Obligations
3.01. The obligations of Purchaser hereunder to consummate the 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).
Miscellaneous Conditions
3.02. Seller shall have performed, observed, and complied with all of the covenants,
agreements, and conditions required by this Contract to be performed, observed, and complied
with by Seller prior to or as of the Closing.
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ARTICLE IV
REPRESENTATIONS AND WARRANTIES
OF SELLER
4.01. 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, to the
best of Seller's knowledge:
(a) There are no parties in possession of any portion of the Property as lessees, tenants
at sufferance, or trespassers, other than previously disclosed to Purchaser;
(b) Seller has complied with all applicable laws, ordinances, regulations, statutes, rules
and restrictions relating to the Property, or any part thereof;
4.02. The Property herein is being conveyed to Purchaser under threat of condemnation.
ARTICLE V
CLOSING
Closing Date
5.01. The Closing shall be held at the office of Capital Title Company on or before
September 30t", 2017, or at such time, date, and place as Seller and Purchaser may agree upon, or
within 10 days after the completion of any title curative matters if necessary for items as shown on
the Title Commitment or in the contract (which date is herein referred to as the"Closing Date").
Seller's Obligations at Closing
5.02. At the Closing Seller shall:
(1) Deliver to the State of Texas a duly executed and acknowledged Deed conveying good
and indefeasible title in fee simple to all of the Property described in Exhibit"A", free and clear of
any and all liens and restrictions, except for the following:
(a) General real estate taxes for the year of closing and subsequent years not
yet due and payable;
(b) Any exceptions approved by Purchaser pursuant to Article III hereof, and
(c) Any exceptions approved by Purchaser in writing.
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(2) The Deed to the State of Texas shall be in the form as shown in Exhibit `B" attached
hereto.
(3) Deliver to Purchaser a Texas Owner's Title Policy at Purchaser's sole expense, issued
by Title Company, in Purchaser's favor in the full amount of the Purchase Price, insuring each
Grantee's fee simple interest in and to the Property subject only to those title exceptions listed
herein, 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:
(a) The boundary and survey exceptions shall be deleted;
(b) The exception as to restrictive covenants shall be endorsed "None of
Record", if applicable; and
(c) The exception as to the lien for taxes shall be limited to the year of closing
and shall be endorsed"Not Yet Due and Payable".
(4) Deliver to Purchaser possession of the Property.
Purchaser's Obligations at Closing
5.03. At the Closing, Purchaser shall:
(a) Pay the cash portion of the Purchase Price.
Prorations
5.04. General real estate taxes for the then current year relating to the Property acquired in
fee simple shall be prorated as of the Closing Date and shall be adjusted in cash at the Closing. If
the Closing shall occur before the tax rate is fixed for the then current year, the apportionment of
taxes shall be upon the basis of the tax rate for the next preceding year applied to the latest
assessed valuation. Agricultural roll-back taxes, if any, shall be paid by Purchaser.
Closing Costs
5.05. All costs and expenses of closing in consummating the sale and purchase of the
Property shall be borne and paid as follows:
(1) Owner's Title Policy and survey to be paid by Purchaser.
(2) Deed, tax certificates, and title curative matters, if any,paid by Purchaser.
(3) All other closing costs shall be paid by Purchaser.
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(4) Attorney's fees paid by each respectively as incurred.
ARTICLE VI
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 for any reason, except Purchaser's default,
Purchaser may: (1) enforce specific performance of this Contract; or (2) request that the Escrow
Deposit, if any, shall be forthwith returned by the title company to Purchaser.
ARTICLE VII
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 Article III having been satisfied and Purchaser
being in default and Seller not being in default hereunder, Seller shall have the right to receive the
Escrow Deposit, if any, from the title company, the sum being agreed on as liquidated damages
for the failure of Purchaser to perform the duties, liabilities, and obligations imposed upon it by
the terms and provisions of this Contract, and Seller agrees to accept and take this cash payment
as its total damages and relief and as Seller's sole remedy hereunder in such event. If no Escrow
Deposit has been made then Seller shall receive the amount of$500 as liquidated damages for any
failure by Purchaser.
ARTICLE VIII
MISCELLANEOUS
Notice
8.01. 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 opposite the signature
of the party.
Texas Law to Apply
8.02. This Contract 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 Williamson
County, Texas.
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Parties Bound
8.03. This Contract 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 Contract.
Legal Construction
8.04. In case any one or more of the provisions contained in this Contract shall for any
reason be held to be invalid, illegal, or unenforceable in any respect, this invalidity, illegality, or
unenforceability shall not affect any other provision hereof, and this Contract shall be construed as
if the invalid, illegal, or unenforceable provision had never been contained herein.
Prior Agreements Superseded
8.05. This Contract 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.
Time of Essence
8.06. Time is of the essence in this Contract.
Gender
8.07. Words of any gender used in this Contract shall be held and construed to include any
other gender, and words in the singular number shall be held to include the plural, and vice versa,
unless the context requires otherwise.
Memorandum of Contract
8.08. Upon request of either party, the parties shall promptly execute a memorandum of
this Contract suitable for filing of record.
Compliance
8.09 In accordance with the requirements of Section 20 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.
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Effective Date
8.10 This Contract shall be effective as of the date it is approved by the Round Rock city
council or city manager, which date is indicated beneath the Mayor's or City Manager's signature
below.
Counterparts
8.11 This Contract may be executed in any number of counterparts, which may together
constitute the Contract. Signatures transmitted by facsimile or electronic mail may be considered
effective as originals for purposes of this Contract.
(signature page follows)
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SELLER:
Address:
Steven W. Redden
Date: l
SELLER:
w
Address:
Linda J. Redd
Date:
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PURCHASER:
CITY OF ROUND ROCK, TE AS
4By: Address: 221 East Main St.
Craig Mt
gan, Ma v
Round Rock, Texas 78664
Date:
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