The URL can be used to link to this page

Home My WebLink AboutC2005-179 - 3/24/2005 - NADEPAR I'MENT OF ENGINEERING SERVICES Property and Land Acquisition Division Cimarron/Yorkmwn Blvd. Ph. 2. Parcel 2 REAL ESTATE SALES CONTRACT THE STATE OF TEXAS § COUNTY OF NUECES § KNOW ALL BY THESE PRESENTS This Contract is entered into by Hogan Development Co., L.P., whose address is P.O. Box 270490, Corpus Christi, Nueces County Texas 78427 ("Seller") (COLLECTIVELY) and the City of Corpus Christi, a Texas home rule municipal corporation, whose address is P.O. Box 9277. Corpus Christi, Nueces County, Texas 78469-9277 ("Buyer"). Property. Seller for the consideration and under the terms set out herein, agrees to convey to Buyer the following described property situated in Nueces County, Texas: The tract of land is described by metes and bounds on the attached and incorporated as "Exhibit A" and shown on a map attached and incorporated as "Exhibit B". (Premises) Purchase Price. $5,100.00 Title Insurance. The Seller must provide, at Buyer's expense, a title insurance policy that guarantees good and indefeasible title to the Property, without exceptions to tire other than the standard printed exceptions and any exceptions permitted under this Contract, and that wholly insures and indemnifies Buyer against any title defects or adverse claims_ A reliable title insurance company or title guaranty company ("Title Company") must issue the title insurance policy. The title commitment for title insurance must be delivered to Buyer within 30 days after receipt of the Contract by the title company, with the title insurance policy to be timely issued after Closing. Warranty Deed and Closing Costs. After securing the title insurance commitment, Seller must execute a General Warranty Deed, drafted in accordance with the provisions of this Contract, that conveys indefeasible title to the Property to Buyer, and Buyer must make the cash payment. Buyer will pay all Closing Costs except costs to cure title, which must be paid by Seller. Taxes. Seller must pay all taxes related to the Property up to and including 2005. All current ..... :c~ ..... ,n % prorated between the Buyer and the Seller for 2005 to date of Closing. 2005-179 y an estimate and the Seller will be responsible for any shortage when 03/24/05 Hogan Development 10. 1l. 12. 13. the rexes come due for 2005. Earnest Money. Buyer deposits $500 with the Title Company as Earnest Money, which will be applied to the balance of the purchase price owing at Closing; Buyer will pay the balance of the purchase price owing at Closing. When the Title Company possesses the executed deed, any other necessary paperwork, and the balance of the cash payment, the Title Company will Close the transaction in accordance with its customary procedure. If Buyer fails to Close on this Contract as set out herein, for any reason other than title defects, Seller is entitled to the Earnest Money as liquidated damages for breach of tiffs Contract. Seller may seek to enforce tiffs Contract by an action tbr specific performance. If Seller fails to tender an executed deed conveying the Property in accordance with the terms of this Contract, Buyer may seek to enforce this Contract by an action for specific performance. Restrictions on Title. Buyer accepts title to the Property subject to all recorded restrictive covenants and use restrictions, if any, and all applicable City zoning regulatory ordinances, i f any. Time for Performance. This transaction will be Closed through the Title Company on or before April 15, 2005. Seller gives Buyer possession of the Property by executing the General Warranty Deed. Seller's execution of this Contract means that Seller has read and understands that this Contract is not binding on Buyer until properly executed by the City Manager of the City of Corpus Christi, Texas or his designee. Buyer must execute this Contract within 3 days from the date of Seller's execution of this Contract or tiffs Contract is void. Survives Closing. This Contract survives Closing of the sale of the Property and the delivery of the General Warranty Deed and other necessary documents by Seller to Buyer at Closing, and all terms and conditions remain in effect between Seller and Buyer. Eminent Domain. Buyer is purchasing the Property from Seller under the threat of Eminent Domain. Fence. Seller agrees to pay all costs associated with relocation of Seller's fence to the new northwest property line. The fence will be constructed to the same specifications as originally constructed. Seller agrees to relocate the fence within two weeks of closing Utilities. Seller agrees to relocate all existing utilities associated with the new utility easement alignment. Replat. Buyer agrees to replat the remainder. Replat will be recorded as soon as possible after closing date and no later than April 29_ 2005. 12. Essential. Time is of the essence in closing this transaction. Executed in triplicate, any of which constitutes mn original. SELLER Hogan Development Co., L.P. Name: /'~//e. ~//~- /~.,'-~o'//~/'- Title: ~ State of Texas § County of Nueces § This instrument was acknowledged before me on the o~ ¢~ f~c~Or~l~ ,2005, by /1.'~,-c- F .,q,~qSce.Yc_/TF day of I1%.-;..~.- ..- Odoller 17, 2005 Notary Public, State of Texas I Seal] BUYER CITY OF CORPUS CHRISTI, TEXAS £ gel R. Escobar, Director ment of Engineering Services APPROVED AS TO LEGAL FORM THIS 2- ~ DAY OF FOR THE CITY ATTORNEY 2005. Assistant City Attorney THE STATE OF TEXAS § COUNTY OF NUECES § rll'fis instrument was acknowledged before me on -~/~,-~t*~'- ~' ~ ~' ,2005 by 'Angel R. Escobar as Director of Engineering Services of the City of Corpus Christi, a Texas municipal corporation, on behalf of said corporation. Notary Public in and for the Statc'b/~Iexas L/ [ SeaL] STATE OF TEXAS COUNTY OF NUECES BEING A 1,409.29 SQUARE FOOT (0.032 AC.) TRACT OF LAND, OUT OF LOT 90, BLOCK 1, MARIPOSA SUBDIVISION, A MAP OF WHICH IS RECORDED IN VOLUblE 63, PAGES 60 AND 61, OF THE MAP RECORDS OF NUECES COUNTY, TEXAS, THIS TRACT BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FO!~!,OWS; Bearings are based on recorded map of Mariposa Subdivision and referenced to the monumented southeast right-of-way line of Cimarron Boulevard. Beginning, at a 5/8 inch iron rod, with plastic cap, found, on the southeast right-of-way line of that certain 80.00 foot wide roadway known a~ Cimarron Boulevard, at its intersection with the northeast boundary line of said Lot 90, for the north comer of this tract, same point being the north comer of said Lot 90; Thence, South 60° 57' 38" East, with said northeast boundary line of Lot 90, same line being the southwest boundary line of that certain 2.469 acre tract of land, situated in and out of Lot 18, Section 21, Flour Bluff & Encinal Farm & Garden Tracts, a map of which is recorded in Volume A, Pages 41 thru 43, of the Map Records of Nueces County, Texas, which 2.469 acre tract of land is also described in Document No. 2003006869, Official Public Records of Nueces County, Texas, a distance of 21.00 feet, to a 5/8 inch iron rod, with plastic cap, stamped "Pyle & Associates, Inc.", set, for the east comer of this tra~t; Thence, South 36° 02' 26" West, a distance of 94.23 feet, to a 5/8 inch iron rod, with plastic cap, stamped "Pyle & Associates, Inc.", set, on the southwest boundary line of said Lot 90, same line being the northeast boundary line of Lot 91, said Block 1, Mariposa Subdivision, for the ~outh comer of this tract; Thence, North 390 00' 04" West, with above described common boundary line of Lots 90 and 91, Block 1, Mariposa Subdivision, a distance of 10.27 feet, to a 5/8 inch iron rod, with cap found on aforementioned southeast right-of-way line of Cimarron Boulevard, for the west comer of thi~ tract; \ Thence, North 29° 02' 50" East, with said southeast right-of-way line of Cimarron Boulevard, same line being the northwest b~undary line of said Lot 90, a distance of 89.69 feet to the Place of Beginning and containing 1,409.29 square feet (0.032 ac.) of land. Pyle & Associates, Inc. ~'~"}~'°-l"'~-.*~ David A, Pyle, R.P,L.S. \~¥,,. O:~2200-2299~257 0~11 7 lklooJm~nts~27.~7 050303 [aam~l 2 mvdo~ Exhibit "A" Poin~ 0£ B_B_~egin_ning q ~ CIMAfiRON BOULEVARD (~o' ~t o~-~o~; ~, Point Of Commencement 60~6'I' ~.~,N,C,T. L.: - 53, Pq~' LOT 8,9 ClMARRON BOULEVARD PHASE 2 YORKTOWN TO ~ISON PARCEl. 2 Exhibit "B"