The URL can be used to link to this page

Home My WebLink About19972 RES - 09/15/1987A RESOLUTION AUTHORIZING THE EXECUTION OF THE DOCUMENTS NECESSARY FOR THE ACQUISITION OF PARCEL 4 IN CONNECTION WITH THE O'NEILL- COMPTON CONNECTION; AND APPROPRIATING $32,000. BE IT RESOLVED 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 4 in connection with the O'Neill -Compton Connection, Project 561-86-23.1, a substantial copy of which is attached hereto and made a part hereof, marked Exhibit "A." SECTION 2. That there is hereby appropriated $32,000 out of the No. 561 Street Bond Fund . ATTEST: City Secretary APPROVEDi fl — DAY 0 HAL GEORGE, CITY ATTOR By EY Assistant Ci 2' / ttorney 08P.039.01 , 1921 THE CIT OF CORPUS CHRISTI, TEXAS 19972 MICROFILMED REAL ESTATE SALES CONTRACT THE STATE OF TEXAS § KNOW ALL BY THESE PRESENTS: COUNTY OF NUECES 9 This memorandum of agreement made and entered into by and between Dora G. Haney hereinafter called SELLER, of the County of Nueces, State of Texas, and the CITY OF CORPUS CHRISTI, hereinafter called BUYER, of the County of Nueces, State of Texas, W I T N E S SET H: 1. The SELLER, for the consideration and upon the terms hereinafter set out, hereby agrees to sell and convey unto BUYER, and BUYER agrees to buy the following described property situated in Nueces County, Texas, to—wit: Lot 19, Block 8, Flour Bluff Center, a Subdivision in the City of Corpus Christi, Nueces County, Texas, as shown by map or plat thereof, recorded in Volume 41, Page 8, Map Records, Nueces County, Texas. . "Real Estate Sales Contract" O'NEILL—COMPTON CONNECTION Parcel 4 [Haney] Page 1 of 6 2. The purchase price is Thirty thousand Dollars and no cents [$30,000.00]. 3. The SELLER 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 insurance policy shall be issued through a reliable title insurance company and shall 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 agrees to deliver at the expense of BUYER a good and sufficient general warranty deed drawn in accordance with the provisions 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 up to and including the year 1986. 6. All current taxes, if any, are to be prorated between the BUYER and the SELLER for the year 1987 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 $1,500.00 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, "Real Estate Sales Contract" O'NEILL-COMPTON CONNECTION Parcel 4 [Haney] Page 2 of 6 the SELLER shall be entitled to receive said cash deposit as liquidated damages for the breach of this contract, or may at her option, enforce specific performance hereof. When the executed deed and any other necessary executed 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 procedure. In the event SELLER fails 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 upon execution of the "Warranty Deed" by SELLER. 10. By SELLER'S execution hereof, SELLER acknowledges that she has read this agreement and understands that this agreement is not binding on BUYER until properly authorized by the City Council and executed by the City Manager of the City of Corpus Christi, Texas. It is 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. "Real Estate Sales Contract" O'NEILL—COMPTON CONNECTION Parcel 4 [Haney] Page 3 of 6 11. SELLER will retain improvements and will remove same from the premises within 90 days after closing. City of Corpus Christi will have the right to demolish or sell and remove subject improvements if not removed by SELLER within the specified 90 day time period. "Real Estate Sales Contract" O'NEILL-COMPTON CONNECTION Parcel 4 [Haney] Page 4 of 6 EXECUTED in triplicate, either copy of which shall constitute an original, on this the day of , 1987. Dated this the By: By: Dora G. Haney day of , 1987. S ELLE R CITY OF CORPUS CHRISTI, TEXAS Craig A. McDowell City Manager BUYER ATTEST: ARMANDO CHAPA, CITY. SECRETARY Assistant City Secretary APPROVED AS TO LEGAL FORM THIS THE DAY OF By: HAL GEORGE, CITY ATTORNEY Assistant City Attorney "Real Estate Sales Contract" O'NEILL-COMPTON CONNECTION Parcel 4 [Haney] Page 5 of 6 , 1987. THE STATE OF TEXAS § COUNTY OF NUECES § This instrument was acknowledged before me on this the day of , 1987 by Dora G. Haney. Notary Public in and for the State of Texas THE STATE OF TEXAS U COUNTY OF NUECES 4 This instrument was acknowledged before me on this the day of , 1987 by Craig A. McDowell, City Manager of the City of Corpus Christi, Texas, a municipal corporation, on behalf of said municipal corporation. Notary Public in and for the State of Texas "Real Estate Sales Contract" O'NEILL-COMPTON CONNECTION Parcel 4 [Haney] Page 6 of 6 CITY OF CORPUS CHRISTI, TEXAS CERTIFICATION OF'FUNDS (City Charter Article IV Section 21) September 15, 1987 ' I certify to the City Council that $ 32,000.00 - , 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 ' r to the credit of: Fund No. and Name 561 Street Bond Fund Project No. 561-86-23.1• Project Name O'Neill -Compton Connection from which it is proposed to be drawn, and such money is not appropriated for any other purpose. • Parcel 4 [Haney] $30,000 Acquisition $ 481 Closing Costs - $ 1,519 Relocation $32,000 FIN 2-55 Revised 7/31/69 a 3S 4,9F, � � - 211112 843/y7 d), 19Y7 - DirectoFinance Corpus Christi, Texas /5 day of 4, The above resolution was passed by the following vote: Betty N. Turner David Berlanga, Sr. Leo Guerrero Frank Mendez Clif Moss Bill Pruet Mary Rhodes Mary Pat Slavik Linda Strong 99.066.01 19972 1981