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R-98-05-14-10A1 - 5/14/1998a RESOLUTION NO. R -98-05-14-10A 1 WHEREAS, John T. Barrett, Trustee owns approximately 10 acres of land adjacent to Lake Creek Park, and WHEREAS, Mr. Barrett has offered to sell said property to the City of Round Rock, and WHEREAS, the City would like to purchase said property to add to Lake Creek Park, 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 John T. Barrett, Trustee, for the purchase of the above described property, a copy of said contract being attached hereto as Exhibit "A". 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, and the Act. RESOLVED this 14th day of May, ATTEST: ANNE LAND, City Secretary K:\WPDOCS\RESOLUTI\R80514A1.WPD/scg CHARLES CUL PER, Mayor City of Round Rock, Texas 808 02 1305 105 1505 1000 nn t�n� �SnA i 900 909 9°' 809 3r Cit of Round Rock � 803 900 Planning & Community Development GIS .. 808 a n� 806 }. ;x=. 1201 s 800 a 1001 £t , Y 805 901 W *fin V 709 � � z 104 _ . 1600 ._ s 800 1210 800 209 `^ 213/21 _ 1208 303 ` 401 403 30630N4302 300305/3 609 400 405 308 850 310 309/3 605 _ 403 402 7 312 407 400 402 303 301 313/3 402 900 305 405 404 409 404 307 317 404 408 406 401 41 2 1422 32 608 406 411 422 420 403 41 41 606 4 � 405 41 501 424 410 41 602 604 407 412 407 40 400 4 607 503 406 414 409 4 4 41 4 41 404/406 00 605 408 409 426 416 413 411 4 141 41 502505 32 -- 408/410 603 41 800 418 415 31 140 1425 €M' 410 601 504 507 411 500 417 3131 Feet - 4 * 503 412 502 419 31 507 506 509 504 r 501 3031 i 21. 506 503 3 ..3' 505 3 31 O 200 „`- 508 500 508 '_ 505 30 31 502 1005 507 30 30 1413 e fiF REAL ESTATE CONTRACT State of Texas County of Williamson THIS REAL ESTATE CONTRACT ("Contract") is made by and between John T. Barrett, Trustee, referred to in this Contract as "Seller") and the City of Round Rock, a Texas Home Rule City (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 of land containing approximately ten (10) acres of land situated in Williamson County, Texas, being more particularly described in Exhibit "A" attached to and incorporated in this Contract by reference for all purposes; 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"), together with any improvements, fixtures, and personal property 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 One hundred thousand and no/100 Dollars ($ 100,000.00.) 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 Cr\WPDOCS\ACITY\BARRBTT\RBALCON.WPD/sls 1 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 fifteen (15) days after the date hereof, Seller, at Seller's sole cost and expense, shall have caused the 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. Purchaser shall give Seller written notice on or before the expiration of ten (10) days after Purchaser receives the Title Commitment that the condition of title as set forth in the Title Commitment is or is not satisfactory, and in the event Purchaser states that the condition is not satisfactory, Seller shall promptly undertake to eliminate or modify all unacceptable matters to the reasonable satisfaction of Purchaser. In the event Seller is unable to do so within ten (10) days after receipt of written notice, this Contract shall thereupon be null and void for all purposes and the Escrow Deposit shall be forthwith returned by the title company to Purchaser. Purchaser's failure to give Seller this written notice shall be deemed to be Purchaser's acceptance of the Title Commitment. Survey 3.03. Within thirty (30) 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. The survey shall also indicate the location of the 100 -year flood plain. 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 Escrow Deposit shall be returned by the title company to Purchaser. Purchaser's failure to give Seller this written notice shall be deemed to be Purchaser's acceptance of the survey. 2 New Surveys and Tests 3.04. Within thirty (30) days after the date hereof Purchaser is granted the right to conduct an engineering survey, environmental survey, feasibility study of the Property, and any and all other surveys or studies deemed necessary to Purchaser, and in this connection Purchaser or Purchaser's designated agents may enter upon the premises for purposes of soil analysis, core drilling, or other tests which may be deemed necessary to Purchaser or Purchaser's engineer. If it should be determined by Purchaser in Purchaser's sole judgment that the Property is not suitable for the intended purposes, then and in this event, Purchaser may, on written notice to Seller received prior to forty (40) days from the date hereof, terminate this Contract and it shall be null and void for all purposes and the Escrow Deposit shall be forthwith returned by the title company to Purchaser. If the written notice is not received within this forty (40) day period, the condition shall be deemed to be acceptable and any objection thereto shall be deemed to have been waived for all purposes. Miscellaneous Conditions 3.05. 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: (1) There are no parties in possession of any portion of the Property as lessees, tenants at sufferance, or trespassers; (2) There is no pending or threatened condemnation or similar proceeding or assessment affecting the Property, or any part thereof, nor to the best knowledge and belief of Seller is any such proceeding or assessment contemplated by any governmental authority; (3) Seller has complied with all applicable laws, ordinances, regulations, statutes, rules and restrictions relating to the Property, or any part thereof. 3 ARTICLE V CLOSING Closing Date 5.01. The closing shall be held at the office of Brown McCarroll Sheets & Crossfield, L.L.P, 309 E. Main St., Round Rock, Texas, on or before sixty (60) days from the effective date hereof, or at such time, date, and place as Seller and Purchaser may agree upon (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 General 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 Seller's sole expense, issued by Alamo Title, 1717 N. IH 35, Round Rock, Texas, 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." (c) 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 Seller. (2) Deed, tax certificates, and title curative matters, if any, paid by Seller (3) All other closing costs shall be paid by Purchaser. (4) Attorney's fees paid by each respectively. ARTICLE VI REAL ESTATE COMMISSIONS It is understood and agreed that there are no brokers involved in the negotiation and consummation of this Contract. Any real estate commissions occasioned by the consummation of this Contract shall be the sole responsibility of Seller, and Seller agrees to indemnify and hold harmless Purchaser from any and all claims for these commissions. Each of the parties represents to the other that it has not incurred and will not incur any liability for brokerage fees or agent's commissions in connection with this Contract other than the liability of Seller as set forth in this paragraph. ARTICLE VII ESCROW DEPOSIT For the purpose of securing the performance of Purchaser under the terms and provisions of this Contract, Purchaser has delivered to Alamo Title the sum of One Thousand Dollars ($1,000), the Escrow 5 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. ARTICLE VIII 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; (2) request that the Escrow Deposit shall be forthwith returned by the title company to Purchaser; or (3) bring suit for damages against Seller. ARTICLE IX 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 X MISCELLANEOUS Assignment of Contract 10.01. This Contract may be assigned by Purchaser provided that Purchaser's assignee, shall expressly assume all Purchaser's liabilities, obligations, and duties hereunder. On delivery to Seller of an instrument in writing whereby the assignee assumes all of the provisions of this Contract to be performed by Purchaser, then, in that event, Purchaser shall be released and discharged of all further liability hereunder. 6 Survival of Covenants 10.02. Any of the representations, warranties, covenants, and agreements of the parties, as well as any rights and benefits of the parties, pertaining to a period of time following the closing of the transactions contemplated hereby shall survive the closing and shall not be merged therein. Notice 10.03. 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 10.04. 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 10.05. 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 10.06. 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 10.07. 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 10.08. Time is of the essence in this Contract. 7 Gender 10.09. 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 10.10. Upon request of either party, both parties shall promptly execute a memorandum of this Contract suitable for filing of record. Compliance 10.11 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 10.12 This Contract shall be effective as of the date it is approved by the City Council, which date is indicated beneath the Mayor's signature below. SELLER: t, Trus -e San Antonio St., uite 406 ustin, Texas 78701 Date: l L./-- ?a PURCHAS City by: Charles Cul. e•• r, Mayor ck, Texas 221 E. Main St. Round Rock, Texas 78664 Date: 5-)'7`-. /g 8 LEGAL DESCRIPTION EXHIBIT "A" 9.99 acres of land, situated in the P. A. Holder Survey, Abstract No. 297, in Williamson County, Texas. Said land being that certain TRact I, called 7.00 acres, and Tract II, called 3.00 acres, as conveyed to Wallace Luersen by deed as recorded in Volume 671, Page 405, of the Deed•Records of Williamson County, Texas. Surveyed on the ground in the month of August, 1983m under the supervision of R. T. Magness, Jr., Registered Public Surveyor, and being more particularly described as follows: BEGINNING at the iron pin found in the south line of the Missouri Pacific Railroad marking the N. E. corner of the above referenced Tract I, for the N. E. corner thereof; THENCE, with a fence, S' 42' E, at 724.83 feet pass an iron pen set for a total distance of 774.83 feet, in all, to a point in the center of Lake Creek, for the S. E. corner of said Tract I, for the S. E. corner hereof; THENCE, upstream, along the center of Lake Creek with its meanders as follows: S 87' 06' W, 260.91 feet to a point; N 691 46' W 148.64 feet to a point; N 59' 22' W, at 87.90 feet past the S. W. corner of the said Tract I and the S. E. corner of the above -referenced Tract II, for a total distance of 105.88 feet, in all to a point; .and N 881 31' W, 236.78 feet to a point for the S. W. corner of the said Tract II, for the S. W. corner hereof; THENCE, N 0' 10' W, at 76.67 feet pass an iron pin set in a fence and continuing with the said fence, for a total distance of 477.10 feet, in all, to an iron pin found on the said South lino of the •Hissouri Pacific Railroad, marking the N. W. corner of the said Tract II, for the N. W. corner hereof; THENCE, N 73' 06' E, e.lond the said South line of the ::issc::r! Pacific Railroad, at 262.74 feet, pass an iron pin found marking the N. E. corner of the said Tract II and the N. W. corner of the said Tract I, for a total distance of 667.66 feet, in all to the Place of BEGINNING and containing 9.99 acres of land. DATE: May 8, 1998 SUBJECT: City Council Meeting - May 14,1998 ITEM: 10.A.1. Consider a resolution authorizing Mayor to execute a contract with John T. Barrett, Trustee for the purchase of approximate 10 acres of parkland. This property, located east of the Lake Creek Park pool is being purchased to relocate the Greenslopes Park youth sports practice fields. Construction of the Clay Madsen Recreation Center has created this need. The cost to purchase the property is $100,000.00. Staff Resource Person: Sharon Prete, Parks and Recreation Director.