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Home My WebLink About19079 ORD - 11/05/1985• AN ORDINANCE AUTHORIZING THE EXECUTION OF THE DOCUMENTS NECESSARY FOR THE ACQUISITION OF PARCEL 1 IN CONNECTION WITH THE BAYFRONT SCIENCE PARK LAND EXPANSION PROJECT; APPROPRIATING $222,700; AND DECLARING AN EMERGENCY. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: SECTION 1. That the City Manager be authorized to execute the documents necessary for the acquisition of Parcel 1 in connection with the Bayfront Science Park Land Expansion Project, Project No. 209-85-1.1, a substantial copy of which is attached hereto and made a part hereof, marked Exhibit "A." SECTION 2. That there is hereby appropriated $222,700 out of the Convention Center Bond Fund. SECTION 3. That upon written request of the Mayor or five Council members, copy attached, to find and declare an emergency due to the need to take immediate action to preserve and protect public property by expediting the purchase of land necessary for the abovementioned Bayfront Science Park Land Expansion Project, such finding of an emergency is made and declared requiring suspension of the Charter rule as to consideration and voting upon ordinances or resolutions at three regular meetings so that this ordinance is passed and shall take effect upon first reading as an emergency measure this the 5th day of November, 1985. ATTEST: IM4L'3°. Ci y Secretary APPROVED: 5 DAY OF NOVEMBER, 1985 Assistant O4P.189.O1 MAYOR THE CIT OF CORPUS CHRISTI, TEXAS 19079 MICROFFOILD 1 BAYFRONT SCIENCE PARK EXPANSION (1985-P) Parcel 1 REAL ESTATE SALES CONTRACT THE STATE OF TEXAS 1 COUNTY OF NUECES 1 EXHIBIT A This memorandum of agreement made and entered into by and between Patrick B. Davis, Trustee, hereinafter celled Seller(s), of the county of Hexer, State of Texas, and the City of Corpus Christi, hereinafter called Buyer, of the County of Nuecee, State of Texas, WITNESSET N: 1. The Seller(s), for the consideration and upon the terms here- inafter set out, hereby agree(s) to sell and convey unto Buyer, and Buyer agrees to buy the following described property situated in Nuecee County, Texas, to -wit: Page 1 of 4 Lots 1 and 2, Block 60, Beach Portion of the City of Corpus Christi, Texas as shown by the map or plat thereof, recorded in Volume "A", Page 3, Map Records, Nuecee County, Texas. 2. The purchase price is cents (9210,000.00). Two hundred ten thousand Dollars and no 3. The Seller(s) shall provide at the expense of Buyer, a title insurance policy, without exceptions to said title being made in said title policy, which policy shall wholly insure and indemnify the Buyer against any title defects or adverse claims thereto. Said title in- surance policy shall be issued through a reliable title insurance company and ahall be delivered to the Buyer on the date of the closing of this transaction. 4. Upon the securing of the title insurance policy provided for herein, Seller(s) agree(s) to deliver at the expense of Buyer a good and sufficient general warranty deed drawn in accordance with the pro- visions of this contract, properly conveying said property to said Buyer, and Buyer agrees thereupon to make the cash payment. 5. All taxes to be paid by Seller(s) up to and including the year 1984. 6. All current taxes, if any, are to be prorated between the Buyer and the Seller(a) for the year 1985 to date of closing, except as may be herein otherwise provided. • 7. Buyer has this day deposited with the title insurance company or title guaranty company the sum of 95,000 as earnest money hereunder to be applied on the cash payment above set out when the transaction is closed, at which time the balance of cash consideration shall also be paid. Should the Buyer fail to consummate this contract as herein specified for any reason, except title defects, the Seller(a) shall be entitled to receive said cash deposit as liquidated damages for the breach of this contract, or may at their option, enforce specific per- formance hereof. When the executed deed and any other necessary exe- cuted papers and the balance of the cash payment are in possession of the title insurance company or title guaranty company said title company will close the transaction in accordance with its usual and customary "Real Estate Sales Contract" BAYFRONT SCIENCE PARR EXP. Parcel 1 (Davis) 2 • procedure. In the event Seller(s) fail(s) to tender a deed conveying said property in accordance with the terms of the contract within the time provided herein, the Buyer may enforce performance of this contract by an action for specific performance thereof. 8. The Buyer agrees to accept title subject to all outstanding restrictive covenants and use restrictions, if any, of record, and all city zoning and regulatory ordinances, if any, applicable to said property. 9. It is understood by all parties hereto that this transaction is to be closed through the title insurance company or title guaranty company on or before ninety (90) days from this date. Possession to be given to Buyer Seller(s). upon execution of "Warranty Deed" by 10. By Beller(s) execution hereof, Seller(s) acknowledge(s) that he (she) (they) have read this agreement and understand that this a- greement is not binding on Bayer until properly authorized by the City Council and executed by the City Manager of the City of Corpus Christi, Texas. It in further understood, however, that Buyer must execute this agreement within sixty (60) days from the date of Seller(s) execution or this agreement shall be null and void and none of the provisions hereinabove set out will bind either party. 11. It is understood that this property is being purchased under the threat of eminent domain proceeding°. 12. Buyer agrees to pay the cost to release the lien for the subject property from the blanket mortgage in an amount not to exceed 95,000.00. "Real Estate Sales Contract" BAYFRONT SCIENCE PARK EXP. Parcel 1 (Davie) 3 EXECUTED in triplicate, either copy of which shall constitute an original, on this day of , 198_. Patrick B. Davie, Trustee SELLER ATTEST: Armando Chapa City Secretary APPROVED: James R. Lontos, P.E. Assistant City Manager THE STATE OF TEXAS I COUNTY OF NUECES CITY OF CORPUS CHRISTI, TEXAS By Edward A. Martin City Manager BUYER DAY OF 198 . J. BRUCE AYCOCK, CITY ATTORNEY By Assistant City Attorney This instrument wee acknowledged before me on , 198_ by Edward A. Martie as City Manager of the City of Corpus Christi, Texas. Notary Public in and for the State of Texas (NOTE: Please print, type, or stamp name + expiration date of notary below) THE STATE OF TEXAS I COUNTY OF BEXAR I Thie instrument was acknowledged before me on by Patrick B. Davie, Trustee. "Real Estate Sales Contract" BAYFRONT SCIENCE PARK EXP. Parcel 1 198 Notary Public in and for the State of Texas (NOTE: Please print, type, or stamp nems + expiration date of notary below) 4 • CITY OF CORPUS CHRISTI, TEXAS CERTIFICATION OF FUNDS (City .Charter Article IV Section 21) November 4, 1985 I certify to the City Council that $ 222,700.00 , the amount required for the contract, agreement, obligation or expenditures contemplated in the above and foregoing ordinance is in the Treasury of the City of Corpus Christi to the credit of: Fund No. and Name 209 Convention Center Bond Fund Project No. 209-85-1.1 Project Name Bayfront Science Park Land Expansion from which it is proposed to be drawn, and such money is not appropriated for any other purpose. • BAYFRONT SCIENCE PARR EXPANSION (1985-p) Parcel 1 (Davis) -acquisition $210,000 -closing costs 1,700 -release of lein 5,000 +appraisal fees....6,000 (Parcels 2,3,6,7,9) FIN 2-55 Revised 7/31/69 / i/ /µ/Ss -5-54- 1)U A— , 19 £s 3 • • Corpus Christi, Texas 04clay of , 198S' TO THE MEMBERS OF THE CITY COUNCIL Corpus Christi, Texas For the reasons set forth in the emergency clause of the foregoing ordinance or resolution, an emergency exists requiring suspension of the Charter rule as to consideration and voting upon ordinances or resolutions at three regular meetings; I/we, therefore, request that you suspend said Charter rule and pass this ordinance or resolution finally on the date it is introduced, or at the present meeting of the City Council. Respectfully, Respectfully, 1AYO Council Members THE C Y OF CORPUS CHRISTI, TEXAS The above ordinance was passed :y the following vote: Luther Jones Dr. Jack Best David Berlanga, Sr. Leo Guerrero Joe McComb Frank Mendez Bill Pruet Mary Pat Slavik Linda Strong 19079