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HomeMy WebLinkAboutC2006-034 - 2/16/2006 - NA DEPARTMENT OF ENGINEERING SERVICES Property and Land Acquisition DivIsion 4319 Northwest Library Expansion Parcell Real Estate Sales Contract THE STATE OF TEXAS ~ KNOW ALL BY THESE PRESENTS COUNTY OF NUECES ~ fhis Contract is entered 1I1to by William E. McKinzIe, Jr., Individually, of 10117 Up River Rd., Corpus Christi, Nueces County, Texas 78410 (Seller) and the City of Corpus Christi, a Texas home rule mumcipal corporation, 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 surface estate only, (with all minerals reserved to Seller), for 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 the attached and incorporated Exhibit B. (Premises) ) Purchase Price. $24,075 Cash to Seller. ~ 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 exceptions permitted under this Contract, and that wholly msures 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 msurance policy. The title commitment for title insurance must be delivered to Buyer within 20 days after receipt ofthe Contract by the title company, with the title insurance policy to be timely issued after Closmg 4 General Warranty Deed and Closing Costs. After securing the title insurance commitment, Seller must execute a General Warranty Deed acceptable to Counsel for both Seller and Buyer, 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 and obtaining releases of all liens, which must be paid by Seller. -) Taxes. Seller must pay all taxes related to the Property up to and including 2005. Seller will be responsible for the amount of prorated taxes for year 2006 based upon the actual taxes paid for the year 2005. 2006-034 ' 19 NW Library McKinzie.doc 02/16/06 McKinzie. Jr., William E. h Earnest Money. Buyer deposits $500 with the Title Company as Eamest Money, which will be applied to the balance of the purchase price owing at Closing; Buyer will pay the balance otthe 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 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, Buyer may seek to enforce this Contract by an action for specific perfomlance 7 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 an\ 8 Time for Performance. This transaction will be closed through the Title Company on or before 90 days from the date of this Contract. Seller gives Buyer possession of the Property at the date of closing. Seller's executIOn of this Contract means that Seller has read and understands that this Contract 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, or his designee. Buyer must execute this Contract within 60 days from the date of Seller's execution ofthis Contract or this Contract is void. 9 Survives Closing. This Contract survives closing of the sale ofthe 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. 10. Eminent Domain. Buyer is purchasing the Property from Seller under the threat of Eminent Domain. 11 "As Is" Provision. Buyer accepts the property in its present condition. The Deed to Buyer will contain the following; "Seller is conveying, and Buyer is accepting the property in its "AS IS", "WHERE IS", physical condition, "WITH ALL FAULTS". Absolutely no warranties, express or implied, are given by Seller relating to the physical condition of the sorl. the improvements, or any other physical component of the property, and to the extent any such warranties are nevertheless deemed given, Buyer hereby waives same except where such waiver is expressly prohibited by law. Nothing in this paragraph shall effect or limit the warranties of title set forth in this deed." 12. Essential. Time is of the essence in closing this transaction. Real Estate Sales Contract H\HOME'NormaR\PROJECI\#4319143 19 NW library MeKlnzie.doc Page 2 of (, Executed in triplicate, any of which constitutes an original. Seller , William E. McKinzie, THE STATE OF TEXAS 9 COUNTY OF NUECES 9 This instrument was acknowledged before me on r,~..-e,(/l...-<-~~ Itv by William E. McKinzie, Jr., Individually, 't""",<~:.";::~~:,,. '~:-L';;.'-":':oo.-.o:('''''~''''''_'f ~ ,/~',-:::'~,CYNTHIA DELEUN t'- 1",.'t,,;,:).'Jrl ~',! r :~. F';~it! M. : b. .. " . ~ .iP"....,;. '.f~""'.l:'.;~'..~:' ~.-t ~-}o"...~...' ,"" ~,.,;.~: ,_..-~~ '~-', r Seal] / ,~ L , (t{;:,-1' lit,... c..- .-d/-t? ~ Not ry PublIc In and for the State of Texas Buyer CITY OF CORPUS CHRISTI, TEXAS r t\PPROVED AS TO LEGAL FORM THIS IW l DAY OF FOR THE CITY ATTORNEY ~~LA- Q(~~ Veroni Ocanas, ASSIstant City Attorney City Legal Department Real Estate Sales Contract H:\HOME\NormaR\PROJECT\#43 1914319 NW LIbrary, McKlnzie,doc Page' of'" , 2006 , 2006. fHE STATE OF TEXAS ~ COt JNTY OF NUECES ~ This instrument was acknowledged before me on by . Angel R. Escobar, P. E., as Director of the Depart ent of Engin Corpus Christi, a Texas municipal corporation, on behalf of said co /~ ,2006 g Services of the City of oration. Notary Public in and for th i. rSeal] ",'I'~'~.~ {~~~~.~~ .. . . ~ ~"". ,'ori ~.;:~....~ .,- I,li'!." EUSEBIO GARZA, III MY COMMISSION EXPIRES FeblUary 14. 2009 Real Estate Saics Contract ! I\HOMF NonnaR\PROJEC '1\#4 319\"-'] 9 NW Library. McKmzle.doc Page" of ( August 22, 2005 STATE OF TEXAS COUNTY OF NUECES BEING A 36,000 SQUARE FOOT TRACT OF LAND OUT OF THAT CERTAIN 7.334 ACRE TRACT OF LAND, MORE OR LESS, DESCRIBED IN DOCUMENT NO. 2004012838, OF THE OFFICIAL PUBLIC RECORDS OF NUECES COUNTY, TEXAS, SAID 7.334 ACRE TRACT OF LAND, MORE OR LESS, BEING OUT OF THE McKINZIE 124.12 ACRE TRACT LYING SOUTH OF UP RIVER ROAD AND EAST OF McKINZIE ROAD, ALSO BEING A PORTION OF THE McKINZIE 388.26 ACRE TRACT OF SURVEY 417, PATENTED TO F.W. SCHAEFFER. ABSTRACT 571; SURVEY 419, PATENTED TO F.W. SCHAEFFER, ABSTRACT 570; SURVEY 422, PATENTED TO A.E. SPOHN, ABSTRACT 850; THIS TRACT BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS: Bearings are based on tbat certain 15.17 acre tract of land described In Document No. 1997003215, of the Official Public Records of Nueces County, Teus, and refereDced to the mODumented west boundary IiDe of said 15.17 acre tract of land. BEGINNING at a 5/8 inch iron rod with cap stamped "MAVERICK ENGR.VICTORIA, TX BOUNDARY MARKER", set on the east right-of-way line of that certain dedicated roadway known as McKinzie Road, at its intersection with the south boundary Jine of said 7.334 acre tract of land, same line being the north boundary line of Lot 2, Block 7, Highway Village Annex Section I, a map of which is recorded in Volume 46, Page 225, of the Map Records of Nueces County, Texas, for the southwest comer of this tract, from which point, a I inch iron pIpe found, for the northwest corner of said Lot 2, bears S 80057'00" E, a distance of 10.00 feet; THENCE, North 090 03' 00" East, with said east righl-of-way line of McKinzie Road, a distance of 100.00 feet, to a 5/8 inch iron rod WIth cap stamped "MAVERICK ENGR.VICTORIA, TX BOUNDARY MARKER", for the northwest comer of this tract; THENCE, South 800 57' 00" East, a distance of 360.00 feet, to a 5/8 inch iron rod with cap stamped "MA VERICK ENGR.v'lCTORlA, TX BOUNDARY MARKER", set, on the east boundary line of said 7.334 acre tract of land, for the northeast corner of this tract, from which point .the northeast comer of said 7.334 acre tract ofland bears North 090 03' 00" East, a distance of683.77 feet; THENCE, South 09003' 00" West, with said east boundary line of the 7.334 acre tract ofland, same line being the west boundary line ofaforementionedl5.17 acre tract of land, a distance of 100,00 feet, to a 1 inch iron pipe, found, for the southeast comer of this tract, same point being the southeast comer of said 7.334 acre tract of land and same pomt being the northeast corner of aforementioned Lot 2; THENCE, North 800 57' 00" West. with the common boundary line of said 7.334 acre tract ofland and said Lot 2, at a distance of 350.00 feet pass said I inch iron pipe as referenced above, in all a total distance of 360.00 feet, to the POINT OF BEGINNING and containing 36,000 square feet ofland. 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