R-86-940 - 12/23/1986 RESOLUTION NO.
WHEREAS, the Councll of the City of Round Rock has deemed it
necessary to acquire land for expansion of the Police Station;
and
WHEREAS, there is land available adjacent to the presently
exisiting Police Station; and
WHEREAS, the owner is agreeable to a sale of this property
to the City of Round Rock;
WHEREAS, funds for the purchase are not included within the
1986 - 87 budget, and
WHEREAS, there are adequate funds available in 1985-A
General Obligation Bond Interest Income Earned fund balance.
NOW THEREFORE
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ROUND
ROCK, TEXAS
That the Mayor be and is hereby authorized and directed to
execute any and all documents necessary to complete the purchase
of the property adjacent to the Police Station, and said
authority shall extend to making changes to the documents
necessary to conform the documents to the intent of the parties
and to meet legal requirements as may arise in the orderly
closing of said transaction; and further,
That the 1985-A General Obligation Bond Interest Income
Earned fund balance be/uLtii l itzed to f d safd purchase.
RESOLVED this OU day of
1986.
MIKE ROBINSON, Mayor
City of Round Rock, Texas
ATTEST:
JfSnne Land, City Secretary
DATE: December 19, 1986
SUBJECT: Council Agenda, December 23, 1986
ITEM: 13H. Consider a resolution authorizing the Mayor to sign any
and all documents necessary to complete the transfer of
certain real property for the expansion of the Police
Department and authorize the use of interest income from
bond proceeds for same.
$148,000.00 is available from interest earnings on the 1985-A G.O. Bond
fund to purchase the lot beside the present Police Station site for future
expansion of the Police Station building.
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A. U.S.DEPARTMENT OF HOUSING AND URSAN DEVELOPMENT B. TYPE OF LOAN:
1.O FHA 2. O FMHA 3.O CONY.UNIS.
First American Title Insurance COmpally 4-❑VA 5.❑ CONY.INS.
6.FILE NUMBER 7.LOAN NUMBER
DISCLOSURE/SETTLEMENT STATEMENT
11 the Truth-in Lending Act applies to this transaction, a Truth-in-Lending B.MORTG.INS.CASE NO.
staremenr is attached as page J of this form.
e. NOTE: This form is furnished to you prior to settlement to give you information about)our settlement costs,and again alter settle•
ment to show the actual costs you have paid. The present copy of the form is:
STATEMENT OF ACTUAL COSTS. Amounts paid to and by the settlement agent are sbuwn. Items marked"(p.ox.)"were
paid outside the closing;they are shown here for informational purposes and are not included in tolals.
D. NAME OF BORROWER E. SELLER F. LENDER
City of Round Rock La Brasada Resources None
G. PROPERTY LOCATION H. SETTLEMENT AGENT I. DATES
Lot 7, block 3, Round Rock
Stephan L. Sheets LOAN COMMITMENT ADVANCE DISCLOSURE
North Industrial Park, PLACE OF SETTLEMENT SETTLEMENT DATE OF PRORATIONS IFS!
Section II DIFFERENT FROM
309 East Main SETTLEMENT
Round Rock, Texas
J. SUMMARY OF BORROWER'S TRANSACTION K. SUMMARY OF SELLER'S TRANSACTION
400. GROSS AMOUNT DUE TO SELLER: 148 000.00
100. GROSS AMOUNT DUE FROM BORROWER: Contract sales price
Contract saes price 1 8 000.00 462.�ersonal property
102. Personal property 403.
103. Settlement charges to borrower 404.
(from line 1400,Section L) _0_
104 Adjustments for items paid by seller in advance:
O • 405 City/town taxes to
Adjustments for County taxes to for items paid by seller in advance: 457. Assessments to
CRY/town taxes to 408. Maintenance to
107. County taxes to 409. CommitmenttFFee to
108. Assessments to 410. Io
109. Maintenance 10 411. to
110. School-"Taxes t0 420. GROSS AMOUNT DUE 70 SELLER: 148,000.00
1 l 1. to
112. to .VOTE: The follora•rng 5011 and 600 series sections are not
required to be completed it-he"this form is used for advance
120. GROSS AMOUNT DUE FROM BORROWER: 148,000.00 disclosure of srttlenlrnt rosts prior to settlement.
200. AMOUNTS PAID BY OR IN BEHALF OF BORROWER: 500. REDUCTIONS IN AMOUNT DUE TO SELLER:
50L Payoff o ust mortgage loan
Deposit or earnest money 502. Payolf of second mortgage loan
202. Principal amount of new loan(s) 563. Settlement charges to seller
203. Existing Ioan(s)taken subject to (from line 14tH).Section L) 11099.00
204. Commitment Fee
205. 504. Existing loan(s)taken subject to
505.
Credits to borrower for items unpaid by seller: 506.
City/town taxes t0 501.
201. County tale to 508.
208. Assessments to 509.
209. Sc ool/Taxes to
210. to Credits to buyer for items unpaid by seller:
211. to City,/town taxes to
212. to 511. County Taxes to
220. TOTAL AMOUNTS PAID BY OR IN BEHALF OF _D_ 512- Assessments to
BORROWER: 513. Maintenance to
300. CASH AT SETTLEMENT REQUIRED FROM OR 514. School/Taxes t0
PAYABLE TO BORROWER: -3-15-
301. Gross amount due from borrower 520. TOTAL REDUCTIONS IN AMOUNT DUE TO SELLER: 1,099.0d
(from line 120) 148,000.00
660. CASH TO SELLER FROM SETTLEMENTt
30L Less amounts paid by or in behalf of borrower _0_ 601. Gross amount due to seller
(from line 220) (from line 420) 148,000.DO
602. less total reductions in amount due l0
303. CASH(W REQUIRED FROM)OR seller (from line 520) 1,099.00
(E] PAYABLE TO)BORROWER: 148,000.00
603- CASH TO SELLER FROM BETTLEMENT 146,901.D0,
HMI IbTSt
1R- 1/811
A.
L.SETTLEMENT CHARGES
700. TOTAL SALES/BROKER'S COMMISSION based on price
S @ %= PAID FROM PAID FROM
Di vision of Commission(fine 7001 as follows: SORROWEn'S SELLER'S
701, $ to FUNDS AT FUNDS AT
702. $ to SETTLEMENT SETTLEMENT
703. Commission paid at Settlement
(Money retained by broker applied to commission$ 1
704. Other sales agent charges
705. Additional commission
800 ITEMS PAYABLE IN CONNECTION WITH LOAN
801. Loan Origination Fee %
802. Loan Discount %
803. Appraisal Fee to
804. Credit Repo" to
805. Lender's Inspection Fee
806. Mortgage Insurance Application Fee to
807. Assumption Fee -
808.
809.
810.
811.
900. ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE
901. Interest from to @$ /day
902. Mortgage Insurance Premium for months to
903. Hazard Insurance Premium for years to
804. years to
905.
1000, RESERVES DEPOSITED WITH LENDER
1001. Hazard insurance month @$ per month
1002. Mortgage insurance month @$ per month
1003. City Property taxes month @$ Per month .... ...
1004. County property taxes month @$ per month
1005. Annual assessments month @$ per month
(006. month @$ per month
1007. month @$ per month
1008 month @$
per month
1100. TITLE CHARGES
1101. Settlement or closing lee 4370.80 to aul0 s en er ee S
1102- Abstract or titlesearch to
1103. Title examination a to
1104. Title insurance binder to
1105. Document preparation to Mawr o, en er ee s 150.00
1106. Notary lees to
1107. Attorney's lee to
(includes above items numbers,'
1108. Titlemsmance to Longhorn Title Company 927.00
(includes above hems numbers; 1101 -
1109. Lender's coverage $
1 110. Owner's coverage $
1111.
1112-
1113.
1700. GOVERNMENT RECORDING AND TRANSFER CHARGES
1201. Recording fees: Deed $ 5.OO ;Mortgage$ ;Release$ 5.00
1202. City/county lax/stamps: Deed $ ;Mortgage$
1203. State tax/stamps: Deed $ ;Mortgage$
1204. Tax Certificates 17.00
1205.
7300, ADDITIONAL SETTLEMENT CHARGES
1301. Survey to
1302. Pest inspection to
1303. 198b amson Dun y x (P00- 249.68
13o4. 1986 City o ROUn Roc axes (pOC) 249.71
13os. 1986 Round Roc axes (POC) -� 69a 71
1306.
1307.
1400, TOTAL SETTL EMENT CHARGES tenter on lines 103,Section J and 502,Section K) 1'099.00
The above settlement statement is hereby approved,the disbursements indicated are agthorized,and settlement may
be completed by settlement agent.
Seller
'I his form provided by FIRST AMERICAN TITLE INSURANCE COMPANY
FA"I.1-107 RUO1 Rev.f5/761
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Jy LAND TITLE INFORMATION FOR WILLIAMSON COUNTY
�chymficr�r��, �ycC.
WAIVER OF INSPECTION
GF# 86 12 2851
ROUND ROCK, TEXAS
DATE:
To: LONGHORN TITLE COMPANY, INC.
You are authorized to place in Owner's Policy of Title Insurance
being issued to the undersigned the exception:
"Rights of Parties in Possession." We are satisfied to accept
the policy with such exception and waive inspection by you.
CITY OF ROUND ROC
By:
P.O. Box 769 I717 N. IH-35 P.O. Box 1273
Georgetown. Texas 78627 Suite 130 Taylor. Texas 76574
(512)869-2661 Round Rock, Texas 78664 (512)352-7811
(512)255-2534 (512)244-6661 (512)255-7440
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REAL ESTATE CONTRACT
THIS IS A CONTRACT whereby La Brasada Resources, a Texas General
Partnership herein called Seller, agrees to sell to the City of
Round Rock, herein called Buyer, who agrees to purchase upon the
terms and provisions hereof, the following described real property,
in its present condition, situated in Williamson County, Texas,
to-wit:
Lot Seven (7), Block Three (3), ROUND ROCK NORTH
INDUSTRIAL BUSINESS PARK, SECTION II, a subdivision in
Williamson County, Texas according to the map or plat
thereof recorded in Volume 12, Page 84 (also Cabinet C,
Slide (350-351), Plat Records of Williamson County,
Texas.
The total sales price is $148,000.00, payable in cash at
closing.
Seller is to furnish Buyer an owner's Policy of Title Insurance
issued by Longhorn Title Company, a General Warranty Deed to be
recorded at Buyer's expense, conveying good and marketable title
subject only to any liens to be created or assumed hereunder and the
following:
1. Easements, rights-of-way, and prescriptive rights,
whether of record or not; all presently recorded
restrictions, reservations, convenants, conditions, oil
and gas leases, mineral severances, and other
instruments, other than liens and conveyances, that
affect the property; rights of adjoining owners in any
walls and fences situated on a common boundary; any
discrepancies, conflicts, or shortages in area or
boundary; and any encroachments or overlapping of
improvements.
2. Existing Building and Zoning Ordinances, if any.
3. Rights of parties in possession.
If Owner's Policy of Title Insurance is to be furnished
hereunder, the same is to be delivered as and when the sale is
closed, which shall be on or before December 31, 1986. It is agreed
that by the delivery of Owner's Policy of Title Insurance (form
prescribed by State Board of Insurance of the State of Texas) under
the terms of this contract, dated as of the date of closing and
issued to Buyer in the amount of the total sales price, guaranteeing
Buyer's title to be good and indefeasible subject only to the
foregoing exceptions and the following:
1. Restrictive covenants affecting the land referred to
above.
2. Any discrepancies, conflicts, or shortages in area or
boundary lines, or any encroachments, or any
overlapping of improvements.
3. All taxes for the current and subsequent years.
All duties of the Seller as to the sufficiency of title required
hereunder shall be deemed to be fully performed by Seller; however,
Seller shall not thereby be released from the warranties of his
deed.
Time is of essence of this contract.
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Upon failure of Buyer to comply herewith, Seller may enforce
specific performance. If title is found objectionable and is not
cleared within the time herein provided, or upon failure of Seller
to comply herewith for any other reason, Buyer may either enforce
specific performance hereof or seek such other relief as may be
provided by law.
EXECUTED in multiple copies this 10 day of , 1986.
SELLER: BUYER:
LA BRASADA RESOURCES, A CITY OF ROUND ROCK, A
Texas General Partnership Texas Municipal Corporation
By:�� Bv: 7��/Z--
es L. Donnell, Mike Robinson,
naging Partner Mayor
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