HomeMy WebLinkAboutC2007-486 - 10/16/2007 - ApprovedDECLARATION OF GIFT AND AGREEMENT
BETWEEN
THE CITY OF CORPUS CHRISTI, TEXAS
AND
THE BOARD OF REGENTS OF THE TEXAS A&M UNIVERSITY SYSTEM
FIR THE BENEFIT F
TEAS AIVI UNIVERSITY ~ C[~RPUS CHRISTI
The CITY IMF I~R~US CHRISTI, TEAS {"~I~RPUS I~HI~ISTI" b this
~ ~
1nstrun~ent {this "Agreement"} expressi~ declares its intent to give a '~ a~ real ro ert to the
~ ~ ~
B~ARII IMF RESENTS IMF THE TEAS ABM UNIVERSITY SYSTEM "TAIVIU" for
{ ~
e use and benefit of Texas A~iIVI ~7ni~ersit~r-Carpus Christi.
I~RPU CHRISTI dectares that this Agreerr~ent supersedes an other oral or ~vritten
. ~
declarations, man1festat~ons of donative intent, or ~irnitations or conditions of ' ~ ~rhether
~rrittcn or oral made ~ I~I~RPUS CHRISTI at and ttrr~e re ard~n the sub ect afthls ~.
N~TIE
ACCEPTANCE IMF THE LIFT DESI~IIIBED IN THIS AI~R~E~VIENT IS EXPRESSLY
I~NDITII~NED UPON ACEPTANE BY ACTII~N IMF THE BI~ARD OF RELENTS
IMF THE TEAS A~iNI UNIVERSITY SYSTEIVI AND THL A-DI~PTII~N IMF AN
ORDINANCE BY THE I~ITY HUNI~IL ~F I~OR.PUS I~HIHSTI AUTHI~RI~IN
I~NVEYANE OF THE SIFT PRI~PERTY, IF THL YFT IS NIT AEPTED BY
THE BI~ARII IMF REGENTS IAN ~R BEFORE JANUARY 1, ~~~5 THIS AOR~EMENT
SHALL AUTOMATICALLY TERMINATE AND NEITHER PARTY SHALL HAVE
ANY FURTHER RII~HT I~R I~BLIATII~NS UNDER THIS AREEI4~ENT,
NI~TITHSTANDINI~ ANY ETHER TER~VI IMF THIS AGREE~VIENT TIC THE
DNTRARY, TAMUS SHALL, HAVE THE UNQUALIFIED RII~HT TIC TERIVIINATE
THIS AI~R~EENT AT ANY TIIVIE PRII~R TO LI~SINI~ BY DIVING NI~TII~E TIC
CORPUS I~HRISTI.
It ~s I~I~R~US ~RISTI's specific intent to make a ift to TAMUS for the use an
~ d benefit of
Texas A~N~ ~Jni~ersit~r~Corpus Christi and to pest all incidents of absolute o~nershi
~ of the
property in TAUS. I~RFUS CHRISTI aclCno~ledges the hoard of Re ents in its sale
discretion, shall have fatal control over the use of the Gift Pro ert and th
p ~ e timing of such use.
For purposes of this Agreement, the term "use ~ is defined as a ublie u ase rela
. ~ ~ fed t0
higher education. CORPUS I~HRISTI acknowled es that a ro nation of funds
. g pp p far
construction of irnpra~en~ents, actual construction of such ins rovements and intermittent
p
conducting of research or educational actl~lt~es on the C1~ Pra ert ar an ortion there
p ~} Y p of, in
support of the educat~anal n~~sston and activities of TAUS constitutes com fete cony fiance b
TANIU • a r
lth alb candlt~ans of con~re~rance for the Gift proprt .
~~~~-~~~
~ ~~~ ~~~~
I~rd. ~~74~f
Board of Regen#s - TAIVIU-CC
Prepared by0t~icc of General C.ounset
Gift from the City of Corpes Christi
i.egal Files 2i}D7-G414748
1. dale of iii pro ert . should the hoard of Regents, at any point in the future and
in its sale discretion, determine that all, or a portion, of the lift Property will na longer be used
by TA[J for a public purpose related to higher education, ar the ~aard of regents determines
that ft is in the best interest of TAi~ and the state of Texas to sell all or portion of the i
property, then DItPU ~~ITI shall have aright-a~ first refusal to purchase that portion
of the lift ~raperty na longer being used by TAIV~U for a public purpose related to higher
educatiar~ or that w111 be made available for sale, under terms and conditions as provided in
t1i15 section,
ORPU IITI shall have sixty ~~} days after receipt of written notice of such decision
to no longer use the land for a public purpose related to higher education ar such sale frarr~
TAU, to accept the sale ar purchase offer and shall notify TAUS of its exercise to
purchase in writing within such sixty ~~} day period or ~~iJ ~.IT~ shall be deemed
to not have exercised its right to purchase, If ~~PU ~HRITI exercises its right to
purchase, it shall pay as the purchase price, the value of the '~A1VI[] irnpravernents on the
property that is no longer being used far a public purpose related to higher education ar being
Bald. The value of the improvements at the time of the sale shall be determined by the
Procedure below,
ff RPU ~IRITI does not exercise lts right to purchase a provided above, then if
TA~VIU sells all ar a portion of the lift property to a third party, TAMIJ agrees to pay
~RPU I~~ITI the fair market value of the land at the tirr~e of the sale, as determined by
the procedure below.
To establish the fair market value of the Gift property, the following procedure shall be
implemented:
A, TAiVIU will notify C~RPI~ H~TI in writing of Its choice of a ll~en~ber
of the Appraisal Institute to conduct an appraisal of the fair market value of the
land and the inapra~ements to be sold preferred to as the "Sale Assets}.
B. within ten ~1~} days after receipt of the written notice, ~L~ I~TI
ha11 notify TAMU in writing of its choice of a Member of the Appraisal
Institute to conduct an appraisal of the dale Assets
each party will use its best efforts to maintain canf~dentiality in the appraisal
process ~ The appraisals must be can~pleted and delivered by the appraisers with
thirty ~a} calendar days after I~I~PU I3RITI's written native is delivered
to TAMU pursuant to this section. Upon completion of each written
appraisal, each appraiser must submit a written opinion of the fair market ~a1ue
of the Sale Assets, together with all back-up documentation requested by either
party, to the party which ordered the appraisal. each party sha11 pay all casts
Incident to Its appralsal. The appraisals must be submitted by each party to the
other.
~ H:~ur~~~~scu~n~~w~~~-~cco~~~ao
~. If the two ~2} written opinions of the fair market value of the Sale Assets differ
by more than 1~ ,and TAMU and DRP[~ HST cannot agree upon a
sale price supported by the appraisals, then the two {~} appraisers shall agree
upon the selection of a third Member of the appraisal institute, v~ha will review
the a appraisal reports and render an opinion of value.
The right of CORPUS CHRISTI to reacquire the ~if~ Property, ar any pardon thereof,
and all terms and conditions set forth herein related thereto shall survive the dosing of the
transaction canten~plated herein.
This gib of real property consists of three tracts containing a total of 140.39 acres of land,
more or less {collectively the "i~ Property'} known municipally as South Guth Park {41.91
acres}, bile Drive ~~.11 acres} and the land surrounding the Asa wastewater Treatment Plant
{9.37 acres}. The i~ Property is identified by metes and bounds and shown on the map
attached to this Agreement as Exhibit "A." The gib will be subject to those matters of record
listed in a title cam,itent approved by TAIVIUS. CORPUS ~ItISTI and TAML~ recognize
that condemnation powers exist for the acquis~tian of thz i~ Property. The parties have agreed
that the i Property is necessary to promote a paramount public purpose related to higher and
there is no need to resort to litigation in respect to affecting the purposes of this Agreement.
Aber the ~~FU HSTI pity council adopts an ordinance authorizing conveyance of the
~xi~ Property, ORPI] H.R~TI will execute and delver to TAMU a i~ Deed in the form
of Exhibit "E," attached to this Agreement, for I ~ 8.~8 acres, mere or less, consisting of South
Guth Park and that land surrounding the Dso wastewater Treatment Plant, The Nile Drive gift
will be made in accordance with Section 4.~ of this Agreement.
TAN~US and ~RPUS HRIT~ agree that easements shall be established for existing
utility lines, existing dra~r~age and an access easement to the waste water treatment plant, as
described in Exhibit "'~ attached sha11 be retained in perpetuity by RP~JS CHRISTI for its
exclusive use 1n the Gib Deed conveyance document. If ~.FU CHRISTI determines that it
na longer has need of one or mare of these easements, ~RPUS HT~ will promptly notify
TAIVIUS of its intent to abandon such easen~ent~s~ and will release, by an appropriate written
release, such easements} to TAMLI without any action or payment being required by or made
an behalf of TAMS. TAIVIUS and ~RPU CHRISTI further agree that TAMUS rnay, at its
sole expense, relocate existing utility lines and easements, the drainage easement and access to
the waste water treatment plant, subject to the approval of ~RPUS CHRISTI, which will not
be unreasonably withheld.
. ins ectians and Site Assessment. A.t any tame during the period beginning on the
effective date of this Agreement and continuing through the dosing Date {"Feasibility period"},
TAMU may conduct any fas~bil~ty studies, tests, inspections, and examinations of and on the
i~ Property, which TAMU considers necessary, including but not limited ta: ~a} studies of
subsurface sail conditions and test borings, {b} environmental studies, .which can include testing
for asbestos and the presence of any toxic ar other hazardous substance in, on, or under the Cif
Property, {c}historical invest~gatians, and {d~ archeological investigations TAIVIU also has the
right to conduct wetland studies, and any other studies, title searches, and surveys, which at
TAMUS' sale discretion it deems necessary. TA~]S, its agents and representatives may enter
~ x:t~~r~~~x~s~~t~~~~~-~~cco~o~za
the ~ Property at any reasonable time prior to the dosing Date far the purpose of conducting
the above noted tests and examinations,
If TANI[~, in its sole and absolute dlscretlan, determines far any reason ~aot to accept
the i~ Property, TAN~~S rrYay, upon written notice to OPUS HRITI, terminate this
Agreement.
I~RPTJS CHRISTI agrees to disclose and deliver to TAIVIiT all written agreements,
commitments, reports, and obligations, if any, which CI~RPIJS I~HRISTI has in its control ar
possession which affect the Gift Property, including prior condition and environmental reports,
and to disclose any contingent l~abiltties associated with the Gib Property. op~es of any such
documents must be delivered to TAU within ten { 1 a} business days aver the Effective Date
of this Agreement.
Title Cammitrnent and Survey.
3.1 Title ~o~mitent. within twenty {~a} calendar days following the
effective date of this Agreement, TAUS will, at its expense, have a standard form Title
omn~itent as promulgated by the Texas Department of Insurance {"commitment"}
covering the Cif Property, issued by a title company acceptable to TAMU {the "Title
company"}, and underwritten by a company acceptable to TAMU, together with copies
of all instruments, if any, referred to in the on~mitment as exceptions to title. A copy of
the commitment will be provided to the pity Manager of ICU HITI.
,~ ur~re~. TAiVI~ v~ill, at its expense, have current bat~ndary survey of
the Cif Property the "Survey'} prepared by a registered Professional Land Surveyor
licensed by the State of Texas. A copy of the Survey w~li be provided to the pity
Manager of I~DRPU CHRISTI,
.3 Review of Title ~ornmltment and Sum TAUS shall have a period of
f~~een {15}days {the "Title Review Period'~~ aver its receipt ofthe a~mitment in which
to review the ~oamitxnnent and the Survey, and to give written notice to I~RPU
I~HR.ITI specifying TAMU' objections {the "objections"}, if any, to the amn~itent
and the Survey,
,4 RPU ~HRITI's ~bli~ation~ to lure; TAIVITJ' Right to Terminate,
~f TAl~I~1 shall have timely notified I~~RPI7 I~HRITI in writing of ~b jections to
the orniter~t or the Survey, then I~I~RPUS I~HRISTI nay, but shall not be
obligated to, cure the objections to the reasonable satisfaction of TAU within ~f~een
{~~ days following ~RPUS I~HRITI's receipt of TAiVIU' written objections {the
"lure Period"}. if the objections are not cured to TAM[' satisfaction within the lure
Period, then TAIVII] shall give written notice to I~ItPU CHRISTI and this
Agreement shall terminate,
4, Representations and warranties of ~RPU I~HRITI. I~I~Pi~
CHRISTI represents and warrants as of the date hereof and as of the closing Date {as
~:LegDitlgwslPBcRJSGuthParl~lGiftAg~rCC~7092~
herea~er defined} that:
~. ~. There 1s no action, cult, praceeding or claim affecting the C~J~ft Property or
y portion thereof nor relating to the ownership, operation, use or occupancy of the ri
Property pending or threatened by ar before any authority ar governmental
lnst~rumentallty.
~~~ To its hest knowledge and belief, na pardon of the Gib Property is the
subject of any actual or proposed condemnation ar err~inent domain proceeding, or any
other litigation or proceeding,
4.~ Ta its best knowledge and belief, no hazardous material has been installed,
used, stored ar disposed of, in, on or under the lift Property.
4.4 C~RPLI CHRISTI is not prohibited from consummating the
transactions contemplated in this Agreement, by any law, regulation, agreement,
instrument, restriction, order or judgment
4. CARPUS CHRISTI has full right, title and authority to enter into this
Agreement and no other party has any right, option, interest, or clairri to all ar any part of
the Lift Property.
4.~ CARPUS CHRISTI agrees that it will vacate and close that portion of
Mile Drive from En,s Joslin Rand to Pharaoh Drive as more particularly described in
Exhibit "A" attached to this Agreement, na later than a days aver requested by TAIH[1S
and the vacated and abandoned road right-of~way will be conveyed at that tune to
TA-1VIUS.
All of the foregoing warranties and representations shah survive the Closing of the
transaction contemplated herein.
. lasin Date. The closing of the conveyance of the Cif Property the "losing"}
will be held in the ofhces of the Title one n an a date the " 1 }'
p y ~ acing Date }mutually
acceptable to TAIV~US and CARPUS CHRISTI, but in no event gill the closing be later than
thirty ~~ D} days aver all approvals have been obtained.
G. Events ~f losing, At the lasing:
l CARPUS CHRISTI shall deliver to TAN~U~S the following:
. ~ . l The Cif Deed in the form of Exhibit "B", The 1 Deed will
retain a ten ~ 1 a~ foot maintenance easement surrounding the Aso wastewater
Treatment Plant, any utility easements CIIRPUS CHRISTI wants to retain, an
access easement to the Da wastewater Treatment Plant, and a drainage easement
for the creels located north of the Dso wastewater Treatment Plant.
H;LtgDirlgwslP&~lSGuthParklGiftAgt~C47~193D
~. ~ ,~ Tax vertif cation shoving that no ad valorem taxes are dine ~
awing against the lift Property;
d.1.~ Sale and exclusive possession of the Lift Property, subject to
Section 4.6 and the lease provision in Section ~.3 belov~.
x.1.4 Suvh e~idenve of the autharity and capacity of the persons}
exevuting the closing documents an behalf of C~.PU CH~i~ST~ as TAU
or its caunsel may reasonably require.
~,~ TA~VIU shall deliver to ~RP~JS CHRISTI such evidenve of the
authority and captivity of TAI~IUS and its representatives as ~~PUS HRITI or its
counsel may reasonably require.
TA[IS v~i11 lease to C~RPi~S CHRISTI the baseball Melds in South
Guth Paxl~. The terra of the lease will be for five ~~}years, Frith vansideration being one
Dollar ~$ ~ .~~}per year. dither ~1~TS HRIST~ or TA~VI[~~ may terrnlnate the Lease
by giving a one ~ 1 }year v~ritten notice to the other party. ~~~U CHRISTI vi11 be
responsible far ail casts to operate these facilities and will indemnify to the extent
a1lo~ved by the Constitution and laws of the State of Texas and without waiving any
exemption from liability ar lirnitatians of liability or ~rtll require all spans leagues using
the Melds to provide an insurance policy v~ith TAMi~S being a named insured for any
liability resulting from use of the i~ Property for this purpose, C~RPU CHRISTI
may remove any in~p~ravements from the site; haever, any improvements that remain on
the site upon the expiration of the lease mill be the property of TAGS.
7. ~x erases, TAl1~ shall pay or cause to be paid all expenses assaclated with this
gift, including but not tlrnrted to all closing casts and title insurance policies.
~. NatlveS. Any notice required or permitted under this Agreement must be in
meriting, and shall be deemed to be delivered ~v~hether actually received or not} when deposited
with the United States Postal Service, pastage prepaid, certified mail, return receipt requested,
and addressed to the intended recipient at the address set out belov~, Native may alsa be given
by regular mail, personal delivery, courier delivery, facsimile transrntssron, email or tither
commercially reasonably means and will be effective v~hen actually received, TA~.IU and
~RPU HRIT~ can change their respective natice address by sending to the other party a
notice of the ne~v address, Natives should be addressed as fallo~s:
Ifta CDI~PU HSTI; George K. Noe
City ~Vlanager
P,~, Box 9277
Carpus Christi, TX 7549-9277
Tel, 31-88a-~22~
Fax, 3~1~54-539
H.4cgpirJg~vslF&RfSGuthF~rklGiftAgrCC47fl420
If to T~.1ViU: Dr. Flavius . Killebrew
President
Texas AiV[ University-Corpus Christi
d3 ~~ ocean Drive
Corpus Christi, T~ 78412
Tel. 3~1-825-221
Fax, ~ 1-825-581 ~
with a copy to ~ Associate dice Chancellor for Real estate
System Real Estate office
The Texas ABM l~niversity System
ANI System Building, Suite ~ 28 ~
20o Technology way
College station, Texas 77845-424
Tel. 979-458-b35~
Fax, 979-458-359
9, Miscellaneous,
9.1 overni~g _I~av~ and venue; The validity of this Agreement and ail
matters pertaining to this Agreement, including but not limited to, matters of
performance, non-performance, breach, remedies, procedures, rights, duties, ar~d
interpretation or construction, shall be governed and determined by the constitution and
the laws of the State of Texas, This Agreement is performable in Nueces County, Texas,
Pursuant to Section 8518, texas Ed~~at~or~ ode, venue for any suit filed against
TAIVIUS shall be in the county in which the primary office of the chief executive officer
of TA~JS is located.
9,2 grammatical. whenever the singular number is used, it includes the
plural, and the masculine gender includes the feminine and neuter gender,
9, Headin . Headings are for reference only and will not be canstxued to
llrn~t or alter the meaning of the pravtlon of this Agreement.
9,4 Entire A ee~nent, This Agreement constitutes the entire agreement
between and among the parties and will not be explained, modified, or contradicted by
any prior or contemporaneous negotiations, representations, or agreements, either written
or oral, This Agreement can be amended only by a subsequent, mutually agreed to,
written lnstrurnent,
9.5 Survival of covenants, Any of the representations, warranties, covenants,
and agreements of the parties, as well a any rights and benefits of the parties, pertaining
to a period oftlme following closing will survive Closing and will not be merged.
-"J ~:~,Gg~ll~g1YS~~~~~iU[tI~BI'~{'il~~lg[~~~~~~
9.~ Parties Bound, This Agreerrient is binding upon and inures to the benefit
of the parties and their respective heirs, executors, administrators, legal representatives,
successors in interest or ofl~ce, and assigms abut this Section does not constitute
permission for an assignment,
9.7 avi~ause, If any ane or mare of the provisions of this Agreement, or
the applicabtli of an such ravision to a s eci~c situation shall be held invalid ar
~ p p }
unenforceable, such provision shall be modified to the n~in~rnum extent necessary to
make it or its application ~val~d and enforceable, and the validity and enforceability of all
other provisions of this Agreement and all other applications of any such prawision shall
not be affected thereby.
~.~ effective Date, The l~ffecti~e Date of this Agreement is the date the last
party signs.
~,9 aunterpart Exe~utian, This Agreement may be executed in several
counterparts, each of which shall be fully effective as an original and all of which
together shall constitute one and the same instrument.
9.1 a Further Acts. In addition to the acts recited in this Agreement to be
performed by each party, each party agrees to perform or cause to be perfornrxed at the
closing or ai~er the closing any and all such further acts as may be reasonably necessary
to consummate the transactions contemplated hereby.
9.11 Tine. Tune is of the essence in this Agreement.
EXECUTED this the 7i~~~ day of ,e~„~.~Cv-- , 2007 by CORPUS
CHRISTI.
ATT~T:
Armando Chapa
City Secretary
"~~JS ~~ISTI"
ITS ~RPU~ HRITI, TEA
By:
~ .1~~~
y 1Vlanager
APPROVED AS TO FORM:
M Fisch
City A orney
r
1~~ ~r~~aa *~~~~ ia~~
~ ~HC
!*aaayF~~a~~rM~
H: Legi~io'f gws~P&W'SGuthFs~klGiftA~eC~U?U920
The gib described in this Agreement is aekno~ledged by TA~JS, subject to acceptance
Of this gift ~~ the Beard of Regents alld C~I]lpltanCe i~V1th the ~ol~cles, reg-~latiens, and
procedures Df TAN~U.
~XEUT~D this o da of 207 b TA[~S.
Y ~ ~
"TA~VIU~„
BARD ~F SENT ~F
Tk~~ T~~A A1VI ~]N~~ERIT~ YST~NI
far the use and benefit of
Texas 1~~i Uni~er~ty-Corpus C~~risti ~~
~ ~~~
1VI~HAEL D. NNEY,
hanceilor
The Texas A~VI University System.
~co~~vn,~cE~r
~ ~~~
ty ancellor ~ General Counsel
ersit System
~I BIt~
President
Texas ~. Uni~rersity-Corpus Christi
~~~~~~~
DAN ~. B~HLY
~.ssociate dice Chancellor for Real Estate
Systerr~ Real Estate office
The Teas ABM University ystem
~~
AP~~~
~~ ~ , . .
Assistant ~enera~ Counsel
office of General Counsel
The Texas Ali [Jr~versity System
~ x,r~~~f~~~~~~~t~~~~~~A~ccQ~a~~a
EXHIBIT "A"
FIELD NOTE DESCRIPTION OF TT-IE GIFT PROPERTY
[TO BE INSERTED LATER]
10 H.LegDfflgwsJ~&RISGuthFarklGEi~AgrCC070920
EXHIBIT ~~B"
FORM OF GIFT DEED
N~TI~E ~F ~NFIDENTIALITY RII~HT; IF YI~U ARE A NAT[~I~AL PEEN,
YI~I~ 1VIAY RE1VIOVE ~R TRINE ANY OR ALL ~~' THE FI~LL~IN
INF~RNIATII~N FR~1VI THIS INTR.UIVIENT BEFI~RE IT I FILED ~~ R~CI~RD IN
TIDE PUBLIC RECORDS: Y~I1Ii ~YAL EI~[]RITY NiJN~~EII I~R Y~I~R
DRIER' LICENSE NUIVIBER.
GIFT DEED
STATE OF TEXAS §
CUUNTY OF NUECES §
The CITY OF CORPUS CI~IST`I, TEXAS ~"CORPUS CI~RITI"}, ~~ support ~
furtherance of Texas A1VI University~Corpus Christi, ~I~E, RA1~TS, and CONFIRMS unto
the BOARD ~ RESENTS OF TIE TEXAS ~ C~NI~ERSITY YTEIVI ~"TAIVIUS"},
for the use and benefit of Texas ABM Unl~ersity-Corpus Christi, the following described real
property in Nueces County, Texas the "Gift Property"} ar~d being described on Exhibit "A"
attached to this lift Deed and made a park for all purposes,
Further, this gib is made by CORPUS CHRISTY and accepted by TAUS subject to the
following reservations and covenants;
1. This conveyance is rr~ade subject to all reservations, covenants, restrictions,
easements, rights-ofway, and other matters affecting the lift Property of record
in the Real Property Records of Nuece County, Texas, or apparent on the ground'
2. This conveyance does not cover ar include any oit, gas and other minerals xn and
under the i~ Property except water, rock, stone, sand and gravel and any
rnineral content of such materials}; provided, however, I~~RPI7S CHRISTI, its
representatives, assigns, lessees, and successors in title will have no right to and
will never enter, explore, drill or engage in any operations of any kind upon the
1 H:Leg~irlgwslP&RISC,uthParklGiRAgrCCD7092~
surface of the gift Prape~ty for dicavery, development ar recover of such oil
y
gas or other minerals,
~. ~RPCJ I~RIT'I and TAIVIiI agree it is the intent of TAMU to use the
Gift Property to support the educational mission and activities of Texas A1V~
University~orpus Christi. ~IU HRITI ackno~led es a ra riatian of
PP P
funds for construction of improvements, actual construction, and intermittent
conducting of research ar educational activities on the rift Pro ert or an
p y~ y
portion thereof, constitutes compliance by TAII~U v~ith all conditions of
conveyance for the lift Property,
4. TAIVIU and I~~RPU~ I~~ITI agree that easements for the existin utilities
and a drainage easerr~ent, as described in Bxhibit "B" attached to this Gift Deed
shall be retained in perpetuity by I~~~P~7 I~RITI for its exclusive use. if
~R.PU ~IRITI determines that it na longer has need of one or more of
these easements, C'~~PU I~RITI ill promptly natif T~i~ of its intent
to abandon such easement{s} and v~ill release, by an ap ra riate v~ritten release
p P a
such eaerr~ent{s} to TAIVIU without any action or payment bein re aired b or
~ ~ ~
made on behalf of TAIVIU.
~. If TAUS determines that it no longer intends to use the City Pro ert or an
P ~'} y
portion, thereof for a public purpose related to higher education or it elects to sell
all or a portion of the Gift Property, then TANIU grants to R,PU CHRISTI
a right~Df-first refusal to purchase that pardon of the i#~ Pro erk that ill be
~ ~
made available for sale, If ~~P[~ ~IRITI exercises its ri ht to urchase it
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shall pay as the purchase price, the value of the TAIVIU im rovements an the
p
property subject to such sale, The value of the improvements at the tirrYe of the
sale shall be eterrrxine in the appraisal procedure established an a e 2 of the
p~
Declaration of lift and Agreement between the pity of ~a us Christi, Texas and
the Board of Regents of the Texas A& University stem for the benefit of
Texas A& University~orpus Christi, a copy of ~rhich is attached to this lift
H:LegDirlgwsfp&R1SGu#hFarklGif~AgrCC070920
Deed ~~ exhibit "" attached to this gift Deed and made ~ art for all oses~
~ ~
. In the event I~.PU HR~ITI elects not to urchase such ro ert and
~ p ~ ~~
TAIVIU sells the property, TANIU agrees to pad to CI~RPU I~I~ITI the
fair market value of the land at the time of the sale ~ determined in the raisal
pP
procedure established on page ~ of the Declaration of Gift and A reerr~ent
g
between the pity of carpus hristt, Texas and the Board of Re ents of the Texas
.A University system for the benefit of Texas A~1VI [Juivers~ -~o us
Christi, a caps of h~ch ~s attached to this eft Deed as Exhtblt "" attached to
this Ci#~ Deed and made a part for all purposes,
T~ HAVE AND TU I~~~D the above described rift Pro ert , to ether with all and sin ular the
P ~' ~
rights and appurtenances therein and anywise belon in to TAU its successors and assi
g ~ ~ gns
forever, and C~RPU CI~ITI hereby binds itself, its successors and assi s to warrant an
n , d
forever defend aIi and singutar the Cif Property to TAIVIII its successors and assi s a ain
gn , g st
every person homsaever lafu,l~~ elain~ing, or to claim the same ar and part of the ~~ft Pro e
p
~X~C1T~D this the day of 2~ b ~R~i1 I~I~ITI,
ATTEST:
For E~iblt Purposes pnly
DO NOT SIGN
Armando Chapa
City Secretary
APPR~~ED A T~ ~`QI~IIrI:
~a~ Ex~ib~~ ~irposes ~~y
~ ~~
IVlary I~ay Fischer
~t~ Attorney
"I~RPU I~IITI~}
CITY ~F ORPU ~RITI, TExA
For Exhibit i~rpuses Un1y
By; DO NUT SIGN
GEORGE K. NOE
City Manager
The gift described In thls Agreement is acknowledged b TANIU, sub' ct to acre tance of this
~ J p
gift by the Board of Regents and the gift's compliance with the olicies re rations and
p
pra~edures of TAI~I~1.
H:L.eg~irfgwslP&RISG~~f~Par~CfGiftAgrCCOT0920
E~E~L~TED this da~r af_ ,.. , Za07 ~~ TAU.
~~TA~IVIU~~
BARD HF REENT OF
THE T~~A AIVI [~NI~ERITY YTEIVI
fog the use and benefit of
Texas Ally Uni~re~sity-corpus hxlstl
P'or Exhibit Purposes Only
By; DO NUT SIGN
IVIIHAEL D.1VIINNEY,IVI.D.
hanoellor
Tie Texas A ~ni~rersity system
RECOMMEND ACCEPTANCE:
For Exlilbit Pu~'poses Only
DO NOT SIGN
JAY KIMBROUGH
Deputy Chancellor and General Counsel
The Texas A&M University System
For Exhibit Purposes Daly
Do Nor s~GN
FLA,VIC] , I~ILLE~RE
~res~dent
Texas ,AIVf ~Jni~rersity~arpus hr~sti
For Exhibit Purposes pn~ly
~ NOT SYGN
SAN I~. BI~HLY
Associate dice hancel~ar far Real Estate
System Real Estate ~ffiee
The Texas AM ~Jni~rersit~ ystern
APP~~'E~] AS TH FHRIVI;
~`or ~xhibzf Purposes o,~y
~ ~
ED~IIE I], ~~E, J.D,
Assistant general ~aunsel
~f~ioe of enera~ Counsel
The Texas A University System
14 ~'t,e~uirlgw~IP&NSGuthFarldGi$AgrCCU70920
A~~LED~EIV~NT
STATE OF TEXAS §
COUNTY OF NUECES §
BE~~RE 1ViE, the undersigned authority, a Notary Pubic in and for the pity of Co us
hrist~, State of Texas, on this day personally appeared EIRE I~. NEE, i Matra er far the
qty of corpus hr~sti, Texas, known to me to be the person whose Warne is subscribed to the
foregoing instr~unent and ackna~vledged to nee that he executed it far the aces and consideration
p
therein expressed, and in the capacity therein Mated.
~rIVEN U~NI~E~ M~ ~AI~D ANI~ SEAL ~F ~PFIE this day of
~aa7. ~'n~r ]~x~~~~~ r~~s ~~
~ ~~
STATE OF TEXAS §
COUNTY OF BRAZOS §
BEFORE NIE, the undersigned authority, a Notary Public in and far the State of Texas,
on this day personally appeared M~HAEL ~, ~I~IN~E'Y,1V~,~,, hancellar for The Texas
,A&lVI [~ni~rersity yten~~ known to nee to be the person whose Warne is subscribed to the
foregoing instrurrzent and acknav~ledged to me that he executed it as the act and deed of the
Baard of Regents of The Texas A1VI University System, far the purposes and cansideratian
therein expressed, and in the capacity therein sttedt
E~ UNDER ~~ HAND Al~l~ SEAL ~F ~~I~IE this ~~~ of
~aa~~
~~r E~~Yt~~ ~~~ ~~y
I~T~ ~~
GRANTEE'S ADDLE:
Associate Vice Chancellor far Real Estate
Af System Building, Suite ~ ~H ~
2aa Technology day
Caliege Station, Texas ~784~-~~~4
rotary Public, Mate of Texas
1VIy commission Expires:
Notary Public, State of Texas
My omission Expires;
1 C H:Legs)irfgw~fP&RfSGuthParklGi~AgrC~07(}920
EXHIBIT `~B"
FIELD NOTE DESCRIPTIONS OF THOSE EASEMENTS
BEING RETAINED BY THE CITY OF CORPUS CHRISTI AT CLOSING
TO BE MORE ACCURATELY DETERMINED IN THE SURVEY OF THE PROPERTY BY TAMUS.
[TO BE INSERTED LATER
1 L H:~.egfl~~lgwslP&RISGuthParkf~iiftAgrCC0709~4