HomeMy WebLinkAboutC2013-112 - 4/10/2013 - ApprovedFARM LEASE RENEWAL AGREEMENT
FSN #3466 --- Rackley & Rackley, Joint Venture
WHEREAS, the City of Corpus Christi ( "City ") and Rackley & Rackley, a Joint
Venture ( "Lessee ") entered into a Farming Lease Agreement, authorized by
Ordinance No. 025211 on February 25, 2003, to allow farming operations on 940
acres of land out of Section 22 and the north one -half of Section 41, of the Santa
Cruz Ranch, also known as the Laureles Farm Tracts, Nueces County, Texas,
for an initial term of five (5) years which began on November 1, 2002 and
terminated on October 31, 2007; and said lease contained the option for Lessee
to renew the lease for five (5) additional five -year terms for a maximum of six (6)
five -year terms, and;
WHEREAS, the second five -year term of the Lease expired on October 31, 2012,
and Lessee has requested in writing to renew the Farming Lease Agreement for
the third five- year term under the renewal clause;
NOW, THEREFORE, the Farming Lease between the City and the Lessee
authorized by Ordinance No. 025211, is renewed for an additional five (5) years
for the term of November 1 2012 to October 31 2017 at a new rental rate of
$60 per acre based on an appraisal report obtained by the City of local farmland
cash rents; with all other conditions and requirements of the Lease remaining
unchanged.
ATTEST: CITY OF CORPUS CHRISTI
Armando Chapa Oscar Martinez
City Secretary Assistant City M77r
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THE STATE OF TEXAS § . - - -
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§ SE( TARv
COUNTY OF NUECES §
This instrument was acknowledged before me on , 2013
by Oscar Martinez, as Assistant City Manager, for the City of Corpus Christi
a "n JOSIE EVERETT
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`'� =_ Notary Public, f exas
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2013 -112 n 1 7 . 2013
4110113 Page 1 i
in and for the State of Texas
Rackley &Rackley IND
APPROVED AS TO FORM:
This ( day of _ ' 2013
By: LA &A-
Marcie Downing
Assistant City Attorney
For City Attorney
Rackley & Rackley, a Joint Venture
By: PW"I� �� � Date: j
Paul T. Rackley, Jr., Oa h6er
By: ) Date: Al- Y- ,R Of
- A4 Ma ion G. Rackley, Partner
THE STATE OF TEXAS §
COUNTY OF NUECES §
This instrument was acknowledged before me on � 2013
by Paul T. Rackley, Jr., on behalf of Rackley & Rackley, a Joint Venture.
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� HANNON M. PgRKER Public, S Notary Public in and for the State of Texas
tate of Texas y commission Expires
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THE STATE OF TEXAS §
COUNTY OF NUECES §
This instrument was acknowledged before me on � Al , 2013
by Ms. Marion G. Rackley, on behalf of Rackley & Rackley, a Joint Venture.
'= SH ANNO y N M. PARKEi2 c, State of Texas ission Expires Notary Public in and fior the State of Texas
14, 2015
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