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HomeMy WebLinkAboutC2006-345 - 8/22/2006 - Approved D!PARTMENT OF ENGINEERING SERVICES Property and Land AcquIsition DivIsion 6134a Garcia Arts, Parcel 6 Real Estate Sales Contract THE STA TE OF 1 EXAS ~ KNOW ALL BY THESE PRESENTS COUNT'{ OF NUECES s \; This Contract IS entered mto by Robert Leon, Sr. and wife, Viola Leon of 2034 Mary 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, Nueces County, Texas 78469- 9277 ("Buyer"). 1. 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: Lots Eleven (II) and Twelve (12), Block Seven (7) in the Luter Partition Addition to the City of Corpus Christi, Nueces County, Texas, as recorded in the map or plat which appears in the map records of Nueces County, in Vol. 997, Page 543. ("Property") Pu rchase Price. $65,000.00 cash which includes $42,500 for the Property described and $22,500 for relocation benefits payable under the Uniform Relocation Assistance and Real Propert:v Acquisition Act of 1970 (URA). No other compensation is due and payable. 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 Insures and indemnifies Buyer against any title defects or adverse claims. A reliable title lI1surance companv or title guaranty company ("Title Company") must issue the title lI1surance 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 4 Warranty Deed and Closing Costs. After secunng the title insurance commitment, Seller must execute a General Warranty Deed, drafted In accordance with the provisions of this Contract, that comeys indefeasible title to the Property to Buyer, and Buyer must make the cash payment. Buyer wi II pay all Closing Costs except costs to cure title, which must be paid hy Seller. Leon, S, . Rebert. et al -). Taxes. Seller must pay all taxes related to the Property up to and including 2005. All wi 11 be prorated between the Buyer and the Seller for 2006 to date of 2006-345 08/22/06 M2006-259 l_RESCdoc -~-<~- ......._~...~.........~ _._~. ." ..-..'"._'............_"."..,-".,......"._..__.,. Closing. The proration IS only an estimate and the Seller will be responsible for any shortage when the taxes become 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 pnce owing at Closing. When the Title Company possesses the executed deed, any ,)ther 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 performance I. 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\, X. Time for Performance, This transaction will be Closed through the Title Company on or hefore 90 days from the date of this Contract. Seller gives Buyer possession ofthe 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 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 6(' days from the date of Seller's execution of this Contract or this Contract IS VOId 9. 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. 10. Eminent Domain. Buyer is purchasing the Property from Seller under the threat of Eminent DomaIn. 11. Vacating of Property. Buyer must vacate the property within 120 days from the effective date of this 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. Real Estate Sales Contract H:\HOME\NormaR\PROJECT\#6134A\Leon~RESC doc Page ] of: ",.~~~. .~ ,"~.. ._-.-.""....~. ,.-.........,-.... ......, Seller ", '~...... 1:'- ~ {..;/,......,.{ (, -~ ' J\. ,,"" , ~---'-~---- --... Robert Leon, Sf. ,A... D _~~.,. . :i:.,' Ji.-lJ"V\. Viola Leon ' THE STATE OF TEXAS ~ COUNTY OF NUECES ~ This instrument was acknowledged before me on by Robert Leon, Sr. ~~- _~i- Notary Public in and for the State ofTex :2'1 ,2006 I "'.~~'~':"'" "'''~~ ~ \r~/) ~;;:~;o;;;~~ I "'UII'" KATRINA l. HALEY Notary Public, State of Texas My Commission Expires October 1 7, 2009 ; Seali THE STATE OF TEXAS COUNTY OF NUECES ~ ~ This instrument was acknowledged before me on ~ ~_ ~ t by Viola Leon. -V ,2006 '--1 ,1,7~, ~ ~ A /(~~ 0'. Notary Public in and for the State ofTe [Seal] - , A~:YI';:-.. 'J'~~o't.'" "'~~\ : . . - s . . = ~;.:.:.\$:I N KATRINA L HALEY O~i t,Ublic~ S!ate of Texas . mmlSSlon EXPires OctOber 17, 2009 J Real Estate Sales Contract ~\HOME\NormaR\PROJECT\#6134A\L.eon_ RESC doc Dage ) of 0 "~."~ .....~.... __._.,.'~."......,.... .._.....,rr..""..."...,....._"..,........__ Buyer CITY OF CORPUS CHRISTl, TEXAS ATTEST: ARMANDO CHAP A, CITY SECRETARY .._~ APPROVED AS TO LEGAL FORM, THIS -.2~_ DAY OF ~ By: FOR THE CITY ATTORNEY ,2006, - ~~~ UvuJy Veronica Ocanas, Assistant City Attorney CITY LEGAL DEPARTMENT f"h 2000- 1-5'C) I.!.J .~_... AUt tfUrU,1.L BY r.oU"Cll -_.'"'tl?:.~.L3J_ . - ._...._...~rrp~.r4~rt- THE STATE OF TEXAS ~ COUNTY OF NUECES ~ \ This instrument was acknowledged before me on 111 ~M'..\ ~ ;:;- , 2006 by George K. Noe as City Manager of the City of Corpus Christij a\Texas municipal corporation, on behalf of said corporation [SealJ -./,Ad~\-/l0J rOAvL,tu-- Notary Public in and for the State of Texas !: ",s"'/ Pu~ Connie Parks 1'\. f.~. <; Mv comm.'SSion Expires IVl,~V) I' ~.... ..~" Novembe, 09. 2007 ~ - Reel Estate Sales Contract H:\HOMEINormaRIPROJEC !,#6134AIl eon,RESC ooc Page ~ of ~,.. ..._.~,.._..~..... ~.~~"""'-~ -,.......~,.,~.. --..........-.....,.--.-.............,-'- ............