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HomeMy WebLinkAbout020443 RES - 08/30/1988A RESOLUTION AUTHORIZING THE EXECUTION OF THE DOCUMENTS NECESSARY FOR THE ACQUISITION OF 96.617 ACRES IN CONNECTION WITH THE OSO CREEK PARKLAND ACQUISITION, PHASE I; AND APPROPRIATING $826,250. 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 96.617 acres in connection with the Oso Creek Parkland Acquisition, Phase I, a substantial copy of which is attached hereto and made a part hereof, marked Exhibit A. SECTION 2. That there is hereby appropriated $826,250 out of the 551 Park Bond Fund applicable to Project No. 551-86-12.01. ATTEST: Secretary y APPROVED://%j DAY OF 19 HAL GEORGE, CITY ATTORNEY By Assists t City Attorney 206RP168.res YOR ,7„ THE CITY OF CORPUS CHRISTI, TEXAS 20443 MtCROFiLMEp City of Corpus Christi, Texas Property and Land Acquisition Division REAL E S TATE SALES CONTRACT THE STATE OF TEXAS § KNOW ALL BY THESE PRESENTS: COUNTY OF NUECES § This memorandum of agreement made and entered into by and between C. C. LAND VENTURE ASSOCIATES, 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 ITNESSET 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: TRACT I -See Pages 2, 3, 4 TRACT II -See Page 5 "Real Estate Sales Contract" OSO CREEK LAND ACQ. [Phase 2] Parcel 2 [CC Land Venture Assoc.] Page 1 of 10 Tract I', [1] ' Fieldnote description of a 75:847;, crr 'tract of land out of L 6, 7, 9, 10 and 20-25, Section 22, Flour Bluff & Encinal Farm & Garden Tract (F.B.& E.F.& G.T.), a map of which is recorded in Volume A, Pages 41-43, Map Records of Nueces County, Texas, and being more particularly described by metes and bounds as follows: BEGINNING at a 1" iron pipe found for the East corner of a 7.92 acre tract of land conveyed by the U.S.A. to J. A. Bishop, et al, by deed dated July 21, 1960, recorded in Volume 898, Page 137, Deed Records, Nueces County, Texas, said point being S29°02'17"W, a distance of 5238.14 feet from a nail found in the centerline of Yorktown Road, said nail being the mid-section corner of Sections 21 and 25, F.B. & E.F. & G.T.; THENCE along the Northeast boundary line of said 7.92 acre tract, N61°00'04"W, a distance of 308.41 feet to a 1" iron pipe found for the West corner of said 7.92 acre tract; THENCE along the Northwest boundary line of said 7.92 acre tract, S29°01'40"W, a distance of 994.91 feet to the North shoreline of Oso Creek as established by survey filed in the Texas General Land Office dated May 13, 1986 and recorded in Roll Sketch No. 106; THENCE with the meanders of the creek as established by said survey; N84°03'10"W N89°50'27"W N79°16'22"W N84°01'38"W N78°52'27"W S11°07'33"W S63°24'31"W N84°31'32"W N85°27'59"W N76°07'18"W N78°42'12"W N80°20'14"W S89°26'23"W N87°48'21"W N77°18'21"W N61°05'09"W S84°54'40"W S52°01' 27"W S29°34'37"E S34°56'44"W S85°12'56"W S85°46'03"W S48°14'35"W S62°03'01"W S78°46'18"W N78°34'54"W 48.59 154.35 186.54 195.55 137.58 19.35 28.87 172.03 91.79 235.39 194.45 187.32 152.24 207.20 156.54 236.91 65.14 83.33 19.53 54.37 110.22 100.50 71.53 133.19 60.08 151.28 feet feet feet feet feet feet feet feet feet feet feet feet feet feet feet feet feet feet feet feet feet feet feet feet feet feet N89°31'42"W 262.95 feet S79°57'48"W 16.72 feet to a point for the most Southerly corner of this tract, said point being on the Southeast line of a 69.12 acre tract of land conveyed by Vivian A. Gwynn, etal to the City of Corpus Christi, Texas by deed, dated December 31, 1987 and recorded in Volume 2092, Page 778, of the Deed Records of Nueces County, Texas; "Real Estate Sales Contract" OSO CREEK LAND ACQ. Parcel 2 [CC Land Venture Assoc.] -2- Tract I [ 2 ] THENCE leaving THENCE 45a g the North shorelineof Oso Creek, corner , a distance of 1160.25.feet to a following line, at the beginning5/; of a curve to the right; THENCE along said curve to the right has a 16°00'00" a radius of 498.08 feet andhh actangent tangency; a distance of 139.09 feet to a 5/8" iron rod s et THENCE S65°57'40"E, a distance of for the point of curvature of 802.40 a curve to THENCE.along said curve to he left 55°00'40", a radius of 1824.50 feet feet, a distance of 1751.75 feet to of tangency; THENCE N59°01"40"E, a distance of 394.19 feet t for an angle point; to a 5/8'� iron rod set THENCE NO1017'12"W, a distance of 848.44 feet to for an angle point; a 5/8"iron rod set THENCE N31°03' 25"E, a distance of 421.61 for an angle point: feet to a 5/8" ° iron rod set central angle of length of 70.00 feet, for the point of feetleota 5/8" iron rod set which has a central angle of and a tangent length of 950.00 a 5/8" iron rod set for the point N01 58'12"W, a distance THENCEr the Northwest corner of 790• fo South boundaryofthis 00 feetdi a 5/8" P. line of a 60 tract, saidiron rod set Bratton to NuecesnCounty oot wide stripofpint being e te Volume by deed land conveyed dated March 13,, 1987, by Mark 2052, Page 44, Deed Records, Nueces County, recorded in the South boundaryY� Texas; THENCE along a distanceSouhline of angleof 756.15 tsaid s/8"fort stripoof ford, g point; feet iron rod set for an THENCE 531°03'25"W for an angle a distance of 1443.46 point; feet to a 5/8" iron THENCE SO1° rod set angle point; for an 17� 12" E, a distance of 669,73 feet to a 5/8" iron rod set THENCE N59°01'40"E, a distance of 73.18 for the point of curvature feet to a 5 " of a curve to the right; feet iron rod set THENCE along g said curve to the right which has a distance ofus of 458.99 feet and a a length angle of 00 of tangency; feet to a5/8"tangent length of 265.00 iron rod set for the point E 560°58'20"EHEN THENCE the common boundaryline of Lot distance of 200.00 F.B. feet to a 5/8" iron rod Set in 22, & E.F. & G.T.; 16, Section 24 and Lot 9 THENCE , Section 495.00 along the said common feet to the POINT OF boundary line, S29°pl"4p" BEGINNING. W, a distance of "Real Estate Sales Contract" OSO CREEK LAND ACQ. Parcel 2 [CC Land Venture Assoc.] -3- Tract II Fieldnote description of Section description ionFlour Bluff20.770 acre tract E.F.& G.T.),& Encinal of land out of Lots Records A map of which Farm & Garden Tracts of Nueces is recorded in Volume A, (F.B.& described byCounty, Texas, and Pages 41-43, rl metes and bounds as follows; being more Map particularly Beginning5/8" wide strip iron rod set. for the southeast corner foot deed dated part land1conveyed by Mark P. of a Records, Bratton to,Nueces 60 Nueces County,� 1987, recorded in Volume 2052, pa County Rne of a Texas, said point beingPage 44, Deedy county road; on the south boundary Thence leaving the ad, 6n° „ south boundary line She °58' 2c0orner odistance of 376.45 feet to a f5/8" count this tract; iron rod yset ofor Thence parallel to and 460.00 feet of odd Field Road (Countynorthwest Rodd to aof the centerline 97 5/8"iron rod setafor 9),an 29g0 point; a distance angle point; of 1697.97 Thence S 3°18'07" Thr the W, a distance of 140.00 feet to a 5/8" iron rod set point of curvature of a curve to the left; Thence along said curve to the 34°16'27",c a radius of left which has a central feet, a distance of 274.458.99 feet, and a tangent length angle 141.53 of of tangency; a 5/8"iron g`h theh oom rod set for point Thence S 59°01'40" W, a distance for the south corner of this tractf 73.18 feet to a 5/8" iron rod set Thence N 01°17'12" W, a distance of set for the west corner of this tract; 669.73 feet to a 5/8 iron rod Thence N 31°03'25" sethfor °0an'2leE, a distance of 1443.46 feet e said an foot point,de said point beingto a " on the south boundaryon rod line oThence along the south boundary feet line of said 60 foot land, N 88°03'25 E, a distance of 98.63 wide strip of to the point of beginning A map showing the location of the crosshatching and coloringthe acquisition by yellow is attached hereto andacquissitihin for all purposes as "Exhibit A". made a part hereof "Real Estate Sales Contract" OSO CREEK LAND ACQ. Parcel 2 [CC Land Venture Assoc.] -4- 2. The purchase price is Eight hundred Twenty-one thousand Two hundred -fifty Dollars and no cents [$821,250.00]. 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 1987. 6. All current taxes, if any, are to be prorated between the BUYER and the SELLER for the year 1988 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 $10,000.00 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" OSO CREEK LAND ACQ. Parcel 2 [CC Land Venture Assoc.] -5- the SELLER shall be entitled to receive said cash deposit as liquidated damages for the breach of this contract, or may at SELLER'S option, seek 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 SELLER 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" OSO CREEK LAND ACQ. Parcel 2 [CC Land Venture Assoc.] -6- 11. It is understood that the property described herein is being purchased under the threat of eminent domain proceedings. 12. SELLER shall reserve all oil, gas and other minerals by whatever method produced or extracted, in and under and that may be produced from the property, provided, however, SELLER shall provide to BUYER good and sufficient releases of the use of the surface to BUYER for any purpose incident to the exploration, development, drilling, producing, transporting, mining, treating, storing or any other purpose incident to the development of the oil, gas and other minerals in, on or under the property. 13. SELLER agrees to pay the Real Estate Agent, Garron Dean and Associates, a commission of six percent [67] of purchase price for handling this transaction. "Real Estate Sales Contract" OSO CREEK LAND ACQ. Parcel 2 [CC Land Venture Assoc.] -7- EXECUTED in triplicate, either copy of which shall constitute an original. C. C. LAND VENTURE ASSOCIA By: /11.1111r Henr . Ticker General Partner Dated this /7 day of S ELLE R CITY OF CORPUS CHRISTI, TEXAS By: Juan Garza City Manager BUYER ATTEST: ARMANDO CHAPA, CITY SECRETARY City Secretary APPROVED AS TO LEGAL FORM THIS ( F5 DAY OF , 19 FFr . HAL GEORGE, CITY ATTORNEY By:�i( /is ei? l..C,a((acus_ Assistant City Attorney "Real Estate Sales Contract" OSO CREEK LAND ACQ. Parcel 2 [CC Land Venture Assoc.] -8- THE STATE OF TEXAS § COUNTY OF NUECES § his instrum t was a.knowledged before me on this /r)�" day of � , 1988 by Henry L. Tucker, General Partner for t - C. C. Land Venture Associates and on behalf of said C. C. d Venture Associates. Wat Notary Public in and for THE STATE OF TEXAS 1111 COUNTY OF NUECES 1f 1f 1( of Texas CONNIE PARKS Notary Public, State of T MY Commission Expires This instrument was acknowledged before me on this day of , 1988 by Juan Garza, City Manager for the City of Corpus Christi, Texas, a municipal corporation, on behalf of said municipal corporation. Notary Public in and for the State of Texas [NOTE] [please print, type or stamp name & expira- tion date of notary public below EACH notary] "Real Estate Sales Contract" OSO CREEK LAND ACQ. Parcel 2 [CC Land Venture Assoc.] -9- •�•�•.; •••••.•••• ••••••••••••••.'• ` ` ♦•,•••••••••••••••••••♦••••• ••�••••••% •••moi CITY OF CORPUS CHRISTI, TEXAS CERTIFICATION OF FUNDS (City Charter Article IV Section .3f August 18, 1988 I certify to the City Council that $ 826,250.00 , 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 No. 551 Park Bond Fund Project No. 551-86-12.01 Project Name Oso Creek Parkland Acquisition, Phaaa from which it is proposed to be drawn, and such money is not appropriated for any other purpose. Parcel 2 C.C. Land Venture Associates Acquisition $821,250 Closing Costs 5,000 TOTAL: $826,250 1 ora, 3 '&- 1/ FIN 2-55 Revised 7/31/69 r/PAPle I? , 19 ..pcvfg.7tor o roan e Corpus Christi, T : as .304—h day of The above resolution was passed by the following vote: Betty N. Turner David Berlanga, Sr. Leo Guerrero Clif Moss Bill Pruet Mary Rhodes Frank Schwing, Jr. Mary Pat Slavik Linda Strong 99.066.01 (IV J atiL 0.& -ca 20443 , 198?