R-03-12-18-8B2 - 12/18/2003RESOLUTION NO. R-03-12-18-8132
WHEREAS, the City desires to purchase a 0.030 acre tract of land
for additional right-of-way for the Downtown Streets Improvements
Project, and
WHEREAS, PK Dady Asset Trust, Philip K. Dady, Executive Trustee,
the owner of the property, has agreed to sell said property to the
City, Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
That the Mayor is hereby authorized and directed to execute on
behalf of the City a Real Estate Contract with PK Dady Asset Trust,
Philip K. Dady, Executive Trustee, for the purchase of the above
described property, a copy of said Real Estate Contract being attached
hereto as Exhibit "A" and incorporated herein for all purposes.
The City Council hereby finds and declares that written notice of
the date, hour, place and subject of the meeting at which this
Resolution was adopted was posted and that such meeting was open to the
public as required by law at all times during which this Resolution and
the subject matter hereof were discussed, considered and formally acted
upon, all as- required by the open Meetings Act, Chapter 551, Texas
Government Code, as amended.
RESOLVED this 18th day of December, 2003.
NYRE'E10L,- Mayor
City Round Rock, Texas
A '7 T :
CHRISTINE R. MARTINEZ, City Sec tary
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REAL ESTATE CONTRACT
State of Texas
County of Williamson
THIS REAL ESTATE CONTRACT ("Contract") is made by and between
PK DADY ASSET TRUST, PHILIP K. DADY, EXECUTIVE TRUSTEE, (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:
.030 acre, more or less, situated in the Wiley Harris Survey,
Abstract No. 298, in Williamson County, Texas, being a portion of Lot 1
of P.K. Dady subdivision, a subdivision according to the plat recorded in
Cabinet N, Slide 352 of the Plat Records of Williamson County, Texas, more
fully described by metes and bounds in Exhibit "A", attached hereto and
incorporated herein.
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"). This purchase also includes
any improvements and fixtures situated on and attached to the
Property, for the consideration and upon and subject to the terms,
provisions, and conditions set forth below.
ARTICLE II
PURCHASE PRICE
Amount of Purchase Price
2.01. The purchase price for the Property shall be the sum of
FOUR THOUSAND ONE HUNDRED SIXTY ONE and no/100 Dollars ($4,161.00).
Payment of Purchase Price
2.02. The Purchase Price shall be payable in cash at the
closing.
WPFDesktop\::ODMA/WORLDOX/O:/WDOX/CORR/TRANSPRT/DWNTWNS sls
EXHIBIT
b
a
"All
Special Provisions
2.03 As an obligation which shall survive the closing of this
sale, Purchaser agrees that it will reconstruct the driveway
approaches) of Seller as a part of the overall improvements to the
adjacent roadway/sidewalk facilities, to a condition substantially
similar to that which existed prior to this sale.
Purchaser shall additionally provide any grading or sloping on
the remaining property as necessary to protect the stability and
integrity of the adjoining roadway/ sidewalk facilities and to
facilitate proper drainage pursuant to standard engineering
practices and guidelines. This shall take place as part of the
adjoining construction project on a one time basis.
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.)
Preliminary Title Commitment
3.02. Within twenty (20) days after the date hereof, Seller,
at Purchaser's sole cost and expense, shall have caused the Austin
Title Company ("Title Company") to issue a preliminary title report
(the "Title Commitment") accompanied by copies of all recorded
documents relating to easements, rights-of-way, etc., affecting the
Property. In the event that title to the property is not
satisfactory to Purchaser, Seller shall promptly undertake to
eliminate or modify all unacceptable matters to the reasonable
satisfaction of Purchaser, or shall provide Purchaser with any
assistance reasonably requested as necessary to eliminate or modify
such matters. In the event Seller is unable to do so within thirty
(30) days after receipt of notice, Purchaser may terminate this
Contract and it shall thereupon be null and void for all purposes
and the Escrow Deposit shall be forthwith returned by the title
company to Purchaser, as provided in Article VII. Purchaser's
failure to give Seller this notice shall not be deemed to be
Purchaser's acceptance of the Title Commitment.
Survey
3.03. Within ten (10) days from the date hereof, Purchaser, at
Purchaser's sole cost and expense, shall cause to be delivered a
2
current plat of survey of the Property, prepared by a duly licensed
Texas land surveyor. The survey shall be staked on the ground, and
the plat shall show the location of all improvements, highways,
streets, roads, railroads, rivers, creeks, or other water courses,
fences, easements, and rights-of-way on or adjacent 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 comprising the Property, together with a metes and
bounds description thereof.
If any portion of the survey is unacceptable to Purchaser, then
Purchaser shall give Seller written notice of this fact. Seller
shall promptly undertake to eliminate or modify all the unacceptable
portions to the reasonable satisfaction of Purchaser. In the event
Seller is unable to do so within ten (10) days after receipt of
written notice, Purchaser may terminate this Contract, and the
Contract shall thereupon be null and void for all purposes and the
Escrow Deposit shall be returned by the title company to Purchaser,
as provided in Article VII. Purchaser's failure to give Seller this
written notice shall not be deemed to be Purchaser's acceptance of
the survey.
Miscellaneous Conditions
3.04. 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.
ARTICLE IV
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, to the best of Seller's
knowledge:
(1) There are no parties in possession of any portion of the
Property as lessees, tenants at sufferance, or trespassers;
(2) Seller has complied with all applicable laws, ordinances,
regulations, statutes, rules and restrictions relating to the
Property, or any part thereof;
(3) The Property herein is being conveyed to Purchaser under
threat of condemnation.
ARTICLE V
CLOSING
3
Closing Date
5.01. The closing shall be held at the office of Austin Title,
Round Rock office, on or before December 31, 2003, 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 (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 Purchaser a duly executed and acknowledged
Special 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, assessments, 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.
(2) Deliver to Purchaser a Texas Owner's Title Policy at
Purchaser's sole expense, issued by Austin Title, in Purchaser'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 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;" 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."
(d) Deliver to Purchaser possession of the Property.
4
Purchaser's Obligations at Closing
5.03. At the Closing, Purchaser shall pay the cash portion of
the purchase price.
Prorations
5.04. General real estate taxes for the then current year
relating to the Property 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.
All special taxes or assessments to the closing date shall be paid
by Seller. 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.
(4) Attorney's fees paid by each respectively.
ARTICLE VI
ESCROW DEPOSIT
For the purpose of securing the performance of Purchaser under
the terms and provisions of this Contract, Purchaser has delivered
to Austin Title the sum of Five Hundred Dollars ($500.00), the
Escrow Deposit, which shall be paid by the title company to Seller
in the event Purchaser breaches this Contract as provided in Article
IX hereof. At the closing, the Escrow Deposit shall be paid over to
Seller and applied to the cash portion of the purchase price,
provided, however, that in the event the Purchaser shall have given
written notice to the title company that one or more of the
conditions to its obligations set forth in Article III have not been
met, or, in the opinion of Purchaser, cannot be satisfied, in the
manner and as provided for in Article III, then the Escrow Deposit
shall be forthwith returned by the title company to Purchaser.
5
ARTICLE VII
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 shall be forthwith returned
by the title company to Purchaser.
ARTICLE VIII
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 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.
ARTICLE IX
MISCELLANEOUS
Notice
9.01. 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
9.02. 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.
Parties Bound
9.03. 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.
n
Legal Construction
9.04. 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
9.0.5. 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
9.06. Time is of the essence in this Contract.
Gender
9.07. 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
9.08. Upon request of either party, both parties shall promptly
execute a memorandum of this Contract suitable for filing of record.
Compliance
9.09 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.
Effective Date
9.10 This Contract shall be effective as of the date it is
approved by the Round Rock City Council, which date is indicated
beneath the Mayor's signature below.
7
Possession and Use Agreement
9.11 By signing this Contract, Seller agrees to allow Purchaser
to use and possess the Property for the purpose of constructing
and/or improving a public road and related facilities, upon full
execution of this contract.
SELLER:
PK DADY ASSET TRUST
By: �.
Philip K. ad
Executive Tru
PURCHASER:
CITY OF ROUND ROCK
By:
Nyle Maxwell, Mayor
221 E. MAIN STREET
ROUND ROCK, TEXAS 78664
Date:
E1
Y,- -?-_r O j
Date
I of 3
P. K. Dady 1 (Parcel 12)
0.030 Acre Tract
DESCRIPTION
City of Round Rock
Williamson County, Texas
FOR A 0.030 -ACRE (1325 SQUARE FOOT) TRACT OF LAND SITUATED IN
THE WILEY HARRIS SURVEY, ABSTRACT NO. 298, IN WILLIAMSON
COUNTY, TEXAS, BEING A PORTION OF LOT 1 OF P. K. DADY
SUBDIVISION, A SUBDIVISION ACCORDING TO THE PLAT RECORDED IN
CABINET N, SLIDE 352 OF THE PLAT RECORDS OF WILLIAMSON
COUNTY, TEXAS, SAID 0.030 -ACRE TRACT BEING MORE PARTICULARLY
DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING at a ''/i" iron rod found at a point in the north right-of-way line of Pecan Street
(right-of-way width varies), said point being the southwest corner of Lot 2 said "P. K. Dady
Subdivision", same being the southeast corner of said Lot 1, for the southwest corner and POINT
OF BEGINNING hereof, from which a %2" iron rod found at the southeast corner of said Lot 2,
same being the southwest comer of a remnant portion of Block 4 Starkfield Addition", a
subdivision according to the plat of record in Cabinet A, Slide 203 of the Plat Records of
Williamson County, Texas, bears N 87°51'49" E for a distance of 99.99 feet;
THENCE with the north right-of-way line of said Pecan Street, same being the south boundary
line of said Lot 1, S 87°51'49" W for a distance of 159.71 feet to a calculated point being the
southwest corner of said Lot 1 for the south west corner hereof;
THENCE departing the north right-of-way line of said Pecan Street with the west boundary line
of said Lot 1, N 09°28'11" W for a distance of 8.14 feet to a'/z" iron rod with cap set on a point
for the northwest corner hereof;
THENCE departing the west boundary line of said Lot 1, through the interior of said Lot 1
N87°42'51" E, for a distance of 160.29 feet to a ''/z" iron rod with cap set on a point in the west
boundary line of said Lot 2, same being the east boundary line of said Lot 1, for the northeast
corner hereof;
EXHIBIT
"An
DATE: December 12, 2003
SUBJECT: City Council Meeting - December 18, 2003
ITEM: *8.B.2. Consider a resolution authorizing the Mayor to execute a Real
Estate Contract with PK Dady Asset Trust, Philip K. Dady,
Executive Trustee for the purchase of right-of-way for the
Downtown Streets Improvements Project.
Resource: Steve Sheets, City Attorney
Laura Levinson
History: Acquisition of right of way for the Downtown Streets Improvements
project.
Funding:
Cost: $4,161.00
Source of funds: Round Rock Transportation System Development Corp.
Outside Resources: Sheets & Crossfield, P.C.
Impact/Benefit: Increased mobility in the Southeast quadrant of the City and to
improve the sidewalks along park area of the City.
Public Comment: N/A
Sponsor: N/A
EXECUTED
DOCUMENT
FOLLOWS
REAL ESTATE CONTRACT
State of Texas
County of Williamson
THIS REAL ESTATE CONTRACT ("Contract") is made by and between
PK DADY ASSET TRUST, PHILIP K. DADY, EXECUTIVE TRUSTEE, (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:
.030 acre, more or less, situated in the Wiley Harris Survey,
Abstract No. 298, in Williamson County, Texas, being a portion of Lot 1
of P.K. Dady subdivision, a subdivision according to the plat recorded in
Cabinet N, Slide 352 of the Plat Records of Williamson County, Texas, more
fully described by metes and bounds in Exhibit "A", attached hereto and
incorporated herein.
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"). This purchase also includes
any improvements and fixtures situated on and attached to the
Property, for the consideration and upon and subject to the terms,
provisions, and conditions set forth below.
ARTICLE II
PURCHASE PRICE
Amount of Purchase Price
2.01. The purchase price for the Property shall be the sum of
FOUR THOUSAND ONE HUNDRED SIXTY ONE and no/100 Dollars ($4,161.00).
Payment of Purchase Price
2.02. The Purchase Price shall be payable in cash at the
closing.
@PFDesktop\::ODMA/WORLDOX/O:/WDOX/CORA/TRANSPRT/DWNTWNSTRTS/DADY JK/REALEST/00059330.WPD/s1s
Special Provisions
2.03 As an obligation which shall survive the closing of this
sale, Purchaser agrees that it will reconstruct the driveway
approaches) of Seller as a part of the overall improvements to the
adjacent roadway/sidewalk facilities, to a condition substantially
similar to that which existed prior to this sale.
Purchaser shall additionally provide any grading or sloping on
the remaining property as necessary to protect the stability and
integrity of the adjoining roadway/ sidewalk facilities and to
facilitate proper drainage pursuant to standard engineering
practices and guidelines. This shall take place as part of the
adjoining construction project on a one time basis.
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.)
Preliminary Title Commitment
3.02. Within twenty (20) days after the date hereof, Seller,
at Purchaser's sole cost and expense, shall have caused the Austin
Title Company ("Title Company") to issue a preliminary title report
(the "Title Commitment") accompanied by copies of all recorded
documents relating to easements, rights-of-way, etc., affecting the
Property. In the event that title to the property is not
satisfactory to Purchaser, Seller shall promptly undertake to
eliminate or modify all unacceptable matters to the reasonable
satisfaction of Purchaser, or shall provide Purchaser with any
assistance reasonably requested as necessary to eliminate or modify
such matters. In the event Seller is unable to do so within thirty
(30) days after receipt of notice, Purchaser may terminate this
Contract and it shall thereupon be null and void for all purposes
and the Escrow Deposit shall be forthwith returned by the title
company to Purchaser, as provided in Article VII. Purchaser's
failure to give Seller this notice shall not be deemed to be
Purchaser's acceptance of the Title Commitment.
Survey
3.03. Within ten (10) days from the date hereof, Purchaser, at
Purchaser's sole cost and expense, shall cause to be delivered a
current plat of survey of the Property, prepared by a duly licensed
Texas land surveyor. The survey shall be staked on the ground, and
the plat shall show the location of all improvements, highways,
streets, roads, railroads, rivers, creeks, or other water courses,
fences, easements, and rights-of-way on or adjacent 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 comprising the Property, together with a metes and
bounds description thereof.
If any portion of the survey is unacceptable to Purchaser, then
Purchaser shall give Seller written notice of this fact. Seller
shall promptly undertake to eliminate or modify all the unacceptable
portions to the reasonable satisfaction of Purchaser. In the event
Seller is unable to do so within ten (10) days after receipt of
written notice, Purchaser may terminate this Contract, and the
Contract shall thereupon be null and void for all purposes and the
Escrow Deposit shall be returned by the title company to Purchaser,
as provided in Article VII. Purchaser's failure to give Seller this
written notice shall not be deemed to be Purchaser's acceptance of
the survey.
Miscellaneous Conditions
3.04. 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.
ARTICLE IV
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, to the best of Seller's
knowledge:
(1) There are no parties in possession of any portion of the
Property as lessees, tenants at sufferance, or trespassers;
(2) Seller has complied with all applicable laws, ordinances,
regulations, statutes, rules and restrictions relating to the
Property, or any part thereof;
(3) The Property herein is being conveyed to Purchaser under
threat of condemnation.
ARTICLE V
CLOSING
3
Closing Date
5.01. The closing shall be held at the office of Austin Title,
Round Rock office, on or before December 31, 2003, 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 (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 Purchaser a duly executed and acknowledged
Special 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, assessments, 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.
(2) Deliver to Purchaser a Texas Owner's Title Policy at
Purchaser's sole expense, issued by Austin Title, in Purchaser'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 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;" 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."
(d) Deliver to Purchaser possession of the Property.
4
Purchaser's Obligations at Closing
5.03. At the Closing, Purchaser shall pay the cash portion of
the purchase price.
Prorations
5.04. General real estate taxes for the then current year
relating to the Property 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.
All special taxes or assessments to the closing date shall be paid
by Seller. 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.
(4)
Attorney's
fees paid by
each respectively.
ARTICLE VI
ESCROW DEPOSIT
For the purpose of securing the performance of Purchaser under
the terms and provisions of this Contract, Purchaser has delivered
to Austin Title the sum of Five Hundred Dollars ($500.00), the
Escrow Deposit, which shall be paid by the title company to Seller
in the event Purchaser breaches this Contract as provided in Article
IX hereof. At the closing, the Escrow Deposit shall be paid over to
Seller and applied to the cash portion of the purchase price,
provided, however, that in the event the Purchaser shall have given
written notice to the title company that one or more of the
conditions to its obligations set forth in Article III have not been
met, or, in the opinion of Purchaser, cannot be satisfied, in the
manner and as provided for in Article III, then the Escrow Deposit
shall be forthwith returned by the title company to Purchaser.
5
ARTICLE VII
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 shall be forthwith returned
by the title company to Purchaser.
ARTICLE VIII
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 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.
ARTICLE IX
MISCELLANEOUS
Notice
9.01. 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 APP1
9.02. 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.
Parties Bound
9.03. 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.
1.1
Legal Construction
9.04. 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
9.05. 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
9.06. Time is of the essence in this Contract.
Gender
9.07. 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
9.08. Upon request of either party, both parties shall promptly
execute a memorandum of this Contract suitable for filing of record.
Compliance
9.09 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.
Effective Date
9.10 This Contract shall be effective as of the date it is
approved by the Round Rock City Council, which date is indicated
beneath the Mayor's signature below.
7
Possession and Use Agreement
9.11 By signing this Contract, Seller agrees to allow Purchaser
to use and possess the Property for the purpose of constructing
and/or improving a public road and related facilities, upon full
execution of this contract.
SELLER:
PK DADY -,SSET TRUST
By
Philip K. ad Date
Executive Trustee
PURCHASER:
CITY OF ROUND ROCK
M
P? AX MaKOe 11, Mayor
2&1 E. MAIN STREET
ROUND ROCK, TEXAS 78664
Date. 1 _/9_10
L
I of 3
P. K. Dady l (Parcel 12)
0.030 Acre Tract
DESCRIPTION
City of Round Rock
Williamson County, Texas
FOR A 0.030-ACRF_, (1325 SQUARE FOOT) TRACT OF LAND SITUATED IN
THE WILEY HARRIS SURVEY, ABSTRACT NO. 298, IN WILLIAMSON
COUNTY, TEXAS, BEING A PORTION OF LOT 1 OF P. K. DADY
SUBDIVISION, A SUBDIVISION ACCORDING TO THE PLAT RECORDED IN
CABINET N, SLIDE 352 OF THE PLAT RECORDS OF WILLIAMSON
COUNTY, TEXAS, SAID 0.030 -ACRE TRACT BEING MORE PARTICULARLY
DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING at a './z" iron rod found at a point in the north right-of-way line of Pecan Street
(right-of-way width varies), said point being the southwest corner of Lot 2 said `P. K. Dady
Subdivision", same being the southeast corner of said Lot 1, for the southwest corner and POINT
OF BEGINNING hereof, from which a !/i" iron rod found at the southeast corner of said Lot 2,
same being the southwest corner of a remnant portion of Block 4 Starkfield Addition", a
subdivision according to the plat of record in Cabinet A, Slide 203 of the Plat Records of
Williamson County, Texas, bears N 87°51'49" E for a distance of 99.99 feet;
THENCE with the north right-of-way line of said Pecan Street, same being the south boundary
line of said Lot 1, S 87°51'49" W for a distance of 159.71 feet to a calculated point being the
southwest corner of said Lot 1 for the south west corner hereof;
THENCE departing the north right-of-way line of said Pecan Street with the west boundary line
of said Lot 1, N 09°28'11" W for a distance of 8.14 feet to a '/z" iron rod with cap set on a point
for the northwest corner hereof;
THENCE departing the west boundary line of said Lot 1, through the interior of said Lot 1
N87°42'51" E, for a distance of 160.29 feet to a ''/z" iron rod with cap set on a point in the west
boundary line of said Lot 2, same being the east boundary line of said Lot 1, for the northeast
corner hereof;
EXHIBIT
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a
"Alt
2 of 3
P. K. Dady 1 (Parcel 12)
0.030 Acre Tract
City of Round Rock
Williamson County, Texas
THENCE with the west boundary line of said Lot 2, same being the east boundary line of said
Lot 1, S 05°13'11" E for a distance of 8.50 feet to the POINT OF BEGINNING hereof and
containing 0.030 acres of land.
Bearings are Grid Bearings based on City of Round Rock, Texas Control Points and GPS survey
performed November 2002.
Based on an on -the -ground survey made under my direct supervision and shown on
accompanying survey drawing.
1\. "aVIU OULLILVII
Registered Professional Land Surveyor No. 4312
BAKER-AICKLEN & ASSOCIATES, INC.
203 E. Main Street, Suite 201
Round Rock, Texas 78664
Job #0601-2-085-24
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