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Home My WebLink AboutC2006-344 - 8/22/2006 - Approved DEPARTMENT OF ENGINEERING SERVICES Property and land Acquisition DivIsion 6134a Garcia Arts, Parcel 5 Real Estate Sales Contract THE STATE OF TEXAS ~ KNOW ALL BY THESE PRESENTS COUNTY OF NUECES ~ This Contract IS entered into by Carmen C. Torres and Dolores Torres of508 18TH Street, Corpus Christi. Nueces County, Texas 78405 (Seller) and the City of Corpus Christi, a Texas home rule municipal corporation. P. O. Box 9277. Corpus Christi, NuecesCounty, Texas 78469-9277 (Buyer). I. 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: tract J . Lot One (1) being part of Tract Five (5) of Luter Partition and being also known as Lot One 1) ofNeylands Cotonia Mexicana Addition which plat has not been filed for record. '\ ueces County Texas \1\ [) Tract 2: Being a part of Tract Five (5) ofH. E. Luter Partition and being also known as Lot Two (2) of Nevlands Colonia Mexicana Addition to Corpus Christi, which plat has not heen filed for record, Nueces County Texas. ) Purchase Price. $56.000. 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 exceptlons 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 I nsurance po I icy. 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 llmely Issued after Closing 4. 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 com eys indefeasible title to the Property to Buyer, and Buyer must make the c:ash payment. Buyer will pay all Closing Costs except costs to cure title, which must be ,,~;...J ....., "~II ... 2006-344 08/22/06 M2006-26() Torres, Carmen C.. et al 3 GarCia "'rts . 'CRRES.doc ""~... ._--.--_~... ._..-.~_.~ _=....r......_-.,. .~ ._"_ ~__,,_,~._. '..N_',.__. "..~ 5. Taxes. Seller must pay all taxes related to the Property up to and including 2005. All current taxes, if any, will be prorated between the Buyer and the Seller for 2006 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 2006 6. 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 owmg at Closing. When the Title Company possesses the executed deed, any other necessary papef\IVork, and the balance of the cash payment, the Title Company w1l1 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 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 anv 8. Time for Performance. This transaction will be Closed through the Title Company on or befure 90 days from the date ofthls Contract. 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 ofthe City of Corpus Christi, Texas or his designee. Buyer must execute this Contract within 60 days from the date of Seller's execution ofthi5 Contract or this Contract is void. 9. Survives Closing. ThIS Contract survives Closmg of the sale of the Property and the de II very 0 f the Gen eral Warranty Deed and other necessary documents by Seller to Buyer at ClOSIng, and all terrns and condItions remain In effect between Seller and Buyer. 10. Eminent Domain. Buyer]s purchasmg the Property from Seller under the threat of Emment Domain. 11. Vacating of Property. Buyer must vacate the property within 120 days from the effective date ofthis contract. Buyer will lease the property to Seller after closing until Seller vacates. Buyer may extend the lease period to allow Seller to find replacement housing. 12. Essential. Time is of the essence in closing this transaction. Executed in triplicate, any of which constitutes an original. H\HOME\NormaR\PROJECT\#6134A\6'34a Garcia Arts TORRES.doc Page .' of -l ~,.~ '^"~~'-' _,_,~_,__,...v,.",,_~. _'~~ Seller / r', "1- ~~~ L. ;~1 Carmen C Torres _ //7 ;} ,.- ! . / // .~~C~~ Dolores Torres THE STATE OF TEXAS COUNTY OF NUECES ~ " " This instrument was acknowledged before me on Carmen C. Torres. J ~ 02'-,' J(~ ( Notary Public in and for the State ofT r Seal] t _",,\UUI"II ,,,....,,,,,'tt "'" - "'1I{' .,', ~ .CC ".n . ~;,~;..,~~~ ''111:~'''\\' ~.ATRINA l. HAleY Notary Public. State of Texas Mi Commission Expires October 17, 2009 THE STATE OF TEXAS COUNTY OF NUECES ~ ~ This Instrument was acknowledged before me on _ by Dolores Torres. J~~ ~~ ~~L~ , Notary Public in and for the State ofTex [ Seal] .,\t~~'~':'", ~ "'1i{" "!' 1. i+t ..(\ : : : E 1.;;:~; 0; ;i~~l "'t,nt"" KATR/NA L. HAlEY ~,otary Public: State of Texas My Commission Expires October 17, 2009 HIHOMEINormaRIPROJECT\#6134A\6 134a Garcia Arts - TORRES.doc Page .1 of .j -~,... .~ _..."~. -""'-',',._- -,",~.._., , 2006 by ,2006 .... ,,_.--,..~.._.,,---~. ....._"... .,'......... Buyer CITY OF CORPUS CHRISTI, TEXAS --~. ;;e City Manager ATTEST: ARMANDO CHAPA. CITY SECRETARY It APPROVEDASTOLEGALFORMTHlS~L DAY OF JfA~ FOR THE CITY ATTORNEY ,2006. _ .~ U[JJv~ Veronica Ocanas, Assistant City Attorney CITY LEGAL DEPARTMENT ~^ ., te '\.. -..:....0 '- (U~DG ...__... ru I "U~ILUJ BY ())UftCtl _._.1J.l.];..1~ ___.........,. ..:t.. :-;F('lIn A ~V ~~V THE STATE OF TEXAS COUNT'{ OF NUECES ~ ~ .."-- This instrument was acknowledged before me on \ , 2006 by George K. Noe as City Manager of the City of Corpus Christi, a T as municipal corporation, on behalf of said corporation \ k\.J. '-0'-- 1) tL vl Vy ~N~tary~li~ in and for the State of Texas \ o"tS"v Pu~ Connie Parks ~~. . 'f,; My Commission Expires ,~7)\'" I ..~ ..~'f( November 09,2007 L-. Of -' ... [Seal] H:\HOME>r'JOw1aR\PROJEC'.#6134A\f '34a Garcia i\rts FlRRES.doc Page.j of ~"~ _..'- ..,----,~ .-.-.........-