HomeMy WebLinkAboutC2020-445 - 12/8/2020 - Approved lisoe
Amendment 2
N69450-20-RP-00010
SECOND AMENDMENT TO THE
LAND EXCHANGE AGREEMENT
BY AND BETWEEN THE CITY OF CORPUS CHRISTI,A POLITICAL SUBDIVISION
OF THE STATE OF TEXAS
AND
THE UNITED STATES OF AMERICA AND ITS ASSIGNS,ACTING BY AND
THROUGH THE DEPARTMENT OF THE NAVY
DATED 24 SEPTEMBER 2019
This Second Amendment to the Land Exchange Agreement by and between the City of Corpus
Christi, a political subdivision of the State of Texas, (CITY) and the United States of America
and its Assigns,acting by and through the Department of the Navy, (the"GOVERNMENT"or
"DEPARTMENT OF THE NAVY"or"NAVY") Contract Number N69450-20-RP-00010 dated
September 24,2019 (the "Agreement") hereby amends the Agreement as follows:
1. Insert the following as Paragraph 3.2.1.:
"3.2.1. Agricultural Leases. CITY has two annual (one year)agricultural leases in place
on City Property. Since February 25,2003,CITY has leased,on an annual basis,a portion of
the Group A properties to a Nueces County resident solely for agricultural purposes. Similarly,
since February 25,2003, CITY has leased, on an annual basis,a portion of the Group B
properties to a different Nueces County resident solely for agricultural purposes. CITY confirms
the most recent renewal agreements for both agricultural leases will contain a provision noting
there are no further renewals of the leases beyond October 31,2021 so long as the leased
property is conveyed to the GOVERNMENT on or before October 31,2021. Upon closing,
CITY will transfer the two agricultural leases to GOVERNMENT, and GOVERNMENT agrees
to accept them. CITY and GOVERNMENT agree the rent will be pro-rated based on the date of
closing."
2. Insert the following as Paragraph 3.2.2:
"3.2.2. No cash equalization payment. GOVERNMENT and CITY agree the value of
the Navy Property is Three Million,Two Hundred Sixty Thousand dollars and no cents
($3,260,000) and the value of the City Property is Three Million,Four Hundred Fifty Three
Thousand,Nine Hundred Thirteen dollars and no cents($3,453,913), as further delineated in
Exhibit D, attached hereto and incorporated herein by reference. Therefore,as set forth in the
Legislation,Exhibit A,there is no cost equalization payment."
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SCANNED
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Amendment 2
N69450-20-RP-00010
3. Delete the existing paragraph 6.4 and replace it with the following:
"6.4 Environmental Covenant with Respect to Replacement Navy Property. The City
shall include in its Special Warranty Deeds to the GOVERNMENT for the City Property an
environmental covenant, Exhibit C, attached hereto an incorporated herein by reference.
Evidence of the CITY's authority to provide such covenant must be provided to
GOVERNMENT.
4. Insert the following as Paragraph 10.2
"10.2. Escrow closing. Due to the COVID-19 pandemic,GOVERNMENT and CITY
agree this will be an escrow closing with the title company contracted by CITY collecting all of
the real property interest conveyance documents,whether deeds or restrictive easements,
recording said documents in the land records of Nueces County,Texas, and issuing
GOVERNMENT Texas Land Title Association(TLTA)U.S. Policy Form T-12(Endorsement)
U.S.A. Owners Title Policy for each real property interest conveyed to GOVERNMENT in an
amount equal to the real property interest conveyed.
5. Insert the attached Exhibit D to the Land Exchange Agreement.
6. Insert the following on the LIST OF EXHIBITS:
"Exhibit D: Property Valuation Spreadsheet"
Except as amended hereby,the Agreement shall remain in full force and effect as originally
executed.
[SIGNATURES ON FOLLOWING PAGE]
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Amendment 2
N69450-20-RP-00010
NOW THEREFORE, CITY and NAVY have executed this Second Amendment to the
Agreement with an effective date of / l `It day of b ECEMI k2020.
CITY OF CORPUS CHRISTI
a political subdivision of the State of Texas,
acting by and through its duly authorized " -°41/
City Manager or designee
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Name: Mi Gkmc (Zoll ri VeZ
Title: C,1,1;e' off' S-fro
ATTEST: Q„ . 3„AU nur'I
��� ` ' _
Rebecca Huerta W COUNCIL 1 1
City Secretary .., (1-A
SEClfrARY
UNITED STATES OF • E CA
-41
By:
Michael A. Brooks
Real Estate Contracting Officer
Naval Facilities Engineering Command Southeast
3
440
$1,609,908 Value of Group A WITHOUT Deed Restrictions
$1,677,724 Value of Group B
$61,464 Value of Group C, Parcel A
$28,315 Value of Group C, Parcel B
$18,238 Value of Group D
$55,032 Value of Group E
$3,232 Value of Group B Parcel 125-A
$3,453,913 Value of property from City of Corpus Christi
$3,260,000 Value of Peary Place Tx Site
$193,913 Difference in value**
** Statute states if the value of City owned
property is greater than the value of the Peary Place
(Navy property), the Navy shall not make a cash
equalization payment to equalize the values.
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N69450-20-RP-00010 EXHIBIT D