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Home My WebLink AboutC2005-695 - 12/19/2005 - NA DEPARTMENT OF ENGINEERING SERVICES Property and Land Acquisition Division 728fJ, Cllnarron/Lens Dr. Wastewater Lift Station, Parcel I REAL EST ATE SALES CONTRACT fHE STATE OF TEXAS ~ KNOW ALL BY THESE PRESENTS COLI\TY OF NUECES " ~ fhls Contract is entered II1to by John Wallace, Vice-President of Shell Land Management Co., Inc., as General Partner of Kings Crossing Realty, Ltd., a Texas Limited Partnersh ip, whose address is 101 N. Shoreline, Suite 600, Corpus Christl, '\Jueces County, Texas 78401 ("Seller") and the City of Corpus Christi, a Texas home rule m un 1 cipal corporation, whose address is P. O. Box 9277, Corpus ( hrlstl. '\Jueces Countv, 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 "Exhibit A" and shown on a map attached and incorporated as "Exhibit 8". (Premises) -) Purchase Price. $25.000.00. cash to seller. 3 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 title other than the standard printed exceptions and any exceptions permitted under this Contract, and that wholly insures and mdemnifies 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 Closmg -+ Special Warranty Deed and Closing Costs. After securing the title insurance commitment, Seller must execute a Special Warranty Deed, drafted in accordance with the provisions of this Contract, that conveys indefeasible title to the Property to Buyer subject to all outstanding easements, right-of-ways, restrictive covenants, and mineral and royalty interests as shown of record with the Nueces County Clerk, and Buyer must make the cash payment Buver will pay all Closing Costs except costs to cure title, which must be paid by Seller. 2005-695 12/19/05 \Vallace. .John ;: Taxes. Seller must pay all taxes related to the Property up to and including 2004. All current taxes, if am, wi 11 be prorated between the Buyer and the Seller for 2005 to date of Closing. The proration is only an estimate and the Seller will be responsible for any shortage when the taxes come due for 2005. () Earnest Money. Buyer deposits $500 with San Jacinto Title Company as Earnest Money, which will be apphed to the balance ofthe 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 ofthe 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 this Contract. Seller may seek to enforce this Contract by an action for specific performance. If Seller fails to tender an executed deed conveying the Property in accordance with the terms of this Contract, Huyer 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, if any ~ Time for Performance. This transaction will be Closed through San Jacinto Title Company on or before 90 days from the date of this Contract. Seller gives Buyer possession of the Property by executing the Special 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 Director of Engineering Services of the City of Corpus Christi, Texas or his designee. Buyer must execute this Contract wIthin 60 days from the date of Seller's execution of this Contract or this Contract is \oid 'J Survives Closing. This Contract survives Closing of the sale of the Property and the delivery of the Special Warranty Deed and other necessary documents by Seller to Buyer at Closing, and all terms and conditions remain in effect between Seller and Buyer. 10. Essential. Time is of the essence in closing this transaction. Executed in triplicate, any of which constitutes an original. ! SELLER Kings Crossing Realty, Ltd. ohn Wallace, Vice President, Shell La d Management Co., Inc., General Partner fHE STATE OF TEXAS ~ COlINTY OF NUECES ~ This instrument was acknowledged before me on the ..... t I - day of ., ,2005, by John Wallace, Vice President of Shell Land Management Co., Inc. fhe General Partner on behalf of Kings Crossing Realty, Ltd., a Texas Limited partnership. LISA NEER 1llJrMYMI..I: m lE OF 1EIAS CO..ISSION EXPIRES: AUGUST 15, 2009 I .)" ,_,.~ 1 \_ Notary Public in and for the State of Texas ISea11 3 BUYER CITY OF CORPUS CHRISTI, TEXAS ~PPROVED AS TO LEGAL FORM THIS I';; DAY OF ~ ,2005. FOR THE CITY ATTORNEY _n~h Ja~ Assistant City Attorney THE STATE OF TEXAS ~ COUNTY OF NUECES ~ This instrument was acknowledged before me on dL'~~ /1' ,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. l~~''''''~< i*': :*E \~. .:1 .~,9;.:.", EUSEBIO GARZA, III MY COMMISSION EXPIRES February 14, 2009 ISeal] HO\H;\"\"nnaR PROJECT'."i286'-Real Lstate :--'dles C,)nnad \V"llacc dill" 4 u: URBAN ENGINEERING October 4,2005 Job No. 20354.A5.01 36 i )8tJ4 101 POBOX 6355 . CORPUS CHRISTI, TEXAS 78466-6355 FAX (361)854-6001 State of Texas County of Nueces Field Notes for a 0.258 acre tract of land out of Lot 17, Section 9, Flour Bluff and Encinal Farm and Garden Tracts, a map of which is recorded in Volume A, Pages 4]- 43, Map Records of Nueces County, Texas, said 0.258 acre tract being more fully described by metes and bounds as follows Beginning at a 5/8 inch iron rod found on the south boundary of Lens Drive, a 60 foot wide public roadway, same point being the north corner of Lot 1 Block 24, King's Crossing Unit I Phase I, a map of which is recorded in Volume 51, Pages 53-65, Map Records, Nueces County, Texas; Thence, South 28056' 49" West, along the west boundary of said Lot I, Block 24, a distanct> of 60.00 feet for a corner of this tract, Thence, Suuth 600<;7' 10" East, along the south boundary of said Lot 1, Block 24, a dIstance of 60.00 feet to a point on tht' west right-of-way line ofCimarron Boulevard, a public roadv.ay, for a cO~,er of this tract; Thence, South 28056'49" West alCing said west right-of-way line, a distance of 2'00 feet for a corner of this tract; Thence, Ndrth 60057' 1 0" West, a distance of 112.36 feet for a corner of this tract; Thence, North 42033'40" West, a distance of93.78 feet to the point of curvature of a circular curve to the left whose radius point bears North 77022'57" West, a distance of 389.04 feel, and having a central angle of 02031 '41", a radius of389.04 feet, a tangent length of 8.59 feet, and an arc length of 17.18 feet; Thence, along said circular curve to the left an arc length of 17. J 8 feet to the point of curvature of a circular curve to the right whose radius point bears South 79054' 43" East, a l1istance of 1000 feet, and having a central angle of 83040'49", a radius of 10.00 feet, a tangent length of 895 feet and an arc length of 14.60 feet; Thence, along said circular curve to the right an arc length of 14.60 feet to the point of curvature of a circular curve to the right whose radius point bears South 03045'56" West, a distance of 279.36 feet, and having a central angle of 25016'54", a radius of 279 63 feet. a tangent length of 62.65 feet and an arc length of 123.27 feet; EXHIBIT A Thence, along said circular curve to the right an arc length of ] 23.27 feet to the point of tangency and for a corner of this tract; Thence, South 60057' 10" East, a distance of 21.93 feet to the Point of Beginning and containing 11,247.64 square feet of land. Bearings are based on the recorded plat of King's Crossing Unit I Phase I, a map of which is recorded in Volume 5J, Pages 53-65, Map Records of Nueces County, Texas. Unless this Fieldnotes Description, including preamble, seal and signature, appears in its entirety, in its original form, surveyor assumes no responsibility for its accuracy. Urban E(]J::,g ~n.R.p.L.S. License No. 4710 .", ~ 4<:f;,~~' c .",:'~~,Z~~, "~)<~...':