HomeMy WebLinkAboutC2021-224 - 8/10/2021 - ApprovedReal Estate Sales Contract
THE STATE OF TEXAS §
KNOW ALL BY THESE PRESENTS
COUNTY OF NUECES §
This Contract is entered into by Robert G. Lozano (aka Robert G. Lozano, Jr.) and Edward
G. Lozano, 2509 S Padre Island Dr, Corpus Christi, Texas 78415, herein called "Seller" and the
City of Corpus Christi, a Texas home rule municipal corporation, 1201 Leopard, Corpus Christi,
Nueces County, Texas 78469-9277, herein called "Buyer".
1. Property. Seller for the consideration and under the terms set out herein, agrees to
convey to Buyer the following described property and easements situated in Nueces
County, Texas:
Property ID: 287880
Legal Description: PORT AYERS SUBURBAN CTR LT 2 BLK A-5
Address: 4233 South Port Avenue
Corpus Christi, Nueces County, Texas 78415
Property ID: 287881
Legal Description: PORT AYERS SUBURBAN CTR LT 3 BLK A-5
Address: 4229 South Port Avenue
Corpus Christi, Nueces County, Texas 78415
2. Purchase Price. $ 250,000.00 cash. $25,000 was paid on June 25, 2021, under the Option
Agreement. $225,000 is due at closing to complete the purchase of the Property.
3. Closing Date and Title Company. Subject to the performance by both parties of their
respective obligations and the satisfaction of all conditions set forth herein, this transaction
shall be closed within 60 days after execution of the contract by both parties. The date can
be extended upon mutual agreement of the parties. This contract will be escrowed with
First Title Company ("Title Company") of 5402 Holly Road, Building B, Suite 2202,
, Corpus Christi, Texas 78411.
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4. )Title Insurance. The Seller must provide, at Buyer's expense, a title insurance policy that
iguarantees
J�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 insurance company or title guaranty company ("Title Company") must issue the title
insurance 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 Closing. If such title review discloses any defects to title,
Seller may, but shall not be obligated to, cure any such defects, and if any such defects are
not cured by the scheduled Closing date (as may be extended by mutual agreement) either
party may elect to terminate this contract prior to Closing, or if not so terminated, Buyer
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will accept title subject to such defects.
5. General Warranty Deed and Closing Costs. After securing the title insurance
commitment, Seller must execute a General Warranty Deed that conveys indefeasible title
to the Property to the Buyer, and Buyer must make the cash payment portion of the
compensation, drafted in accordance with the provisions of this Contract. Buyer will pay
all Closing Costs except costs to cure title, which must be paid by Seller.
6. Property Taxes. Seller must pay all property taxes incurred on the Property up to and
including 2020. All property taxes for the year 2021, if any due and payable or incurred
for the year, will be prorated between the Buyer and the Seller from January 1, 2021 to the
date of Closing. The prorated taxes are only an estimate indicated by a Tax Certificate
obtained by the Title Company and the Seller agrees to pay any shortages of property taxes
should they occur during the following year. Seller shall promptly execute a Tax Proration
Agreement expressly stating this agreement.
7. Buyer's Audits and Due Diligence. It is understood and agreed that Buyer may perform
or cause to be performed, all environmental audits, due diligence, land surveying,
permitting, and all other work associated with development of Buyer's project, up to the
time of Closing and that the time required for such audit may cause delay in Closing and
the results thereof may cause a voidance of this contract. Buyer may elect to void this
contract prior to Closing if Buyer is not satisfied with the results of such audits, due
diligence, and permits. Any on -site activities under this paragraph by the Buyer or its
contractors will be at times and in manners agreeable to Seller.
a. Right of Entry
(1) At Buyer's sole expense, Buyer or Buyer's authorized agents shall have the right to
enter upon the Property for purposes of making such land surveys, environmental site
analysis, and engineering studies as Buyer may deem necessary. Buyer shall not cause or
permit damage or injury to the Property. Upon termination of this Contract, Buyer shall
promptly restore the Property to the condition existing prior to any tests or studies
conducted pursuant to this Contract. This obligation shall survive the termination of this
Contract, notwithstanding anything to the contrary contained herein. Seller shall make
available for Buyer's inspection and copying within ten (10) days from the date hereof all
reports, studies and tests in Seller's possession with respect to the Property.
(2) In connection with Buyer's inspections, studies, and assessments, Buyer
must: (i) employ only trained and qualified inspectors and assessors; (ii) notify Seller, in
advance, of when the inspectors or assessors will be on the Property; (iii) abide by any
reasonable entry rules or requirements that Seller may require; (iv) not interfere with
existing operations or occupants of the Property; and (v) restore the Property to its original
condition if altered due to inspections, studies, or assessments that Buyer completes or
causes to be completed.
b. Environmental Condition of Property.
Definitions.
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"Environmental Law" shall mean any law relating to environmental conditions and
industrial hygiene applicable to the Property, including without limitation, the Resource
Conservation and Recovery Act of 1976, the Comprehensive Environmental Response,
Compensation and Liability Act of 1980, as amended by the Superfund Amendments and
Reauthorization Act of 1986, the Federal Water Pollution Control Act, the Clear Air Act,
the Clear Water Act, the Toxic Substances Control Act, the Endangered Species Act, the
Safe Drinking Water Act, the Texas Water Code, the Texas Solid Waste Disposal Act, and
all similar applicable federal, state and local environmental statutes, ordinances and the
regulations, orders and decrees now or hereafter promulgated thereunder.
"Hazardous Materials" shall mean any pollutant, toxic substance, hazardous waste,
hazardous material, hazardous substance, or oil as defined in any Environmental Law
existing as of the date hereof.
Environmental Audit. Buyer shall have the right to cause an independent environmental
consultant chosen by Buyer, in Buyer's sole discretion, to inspect the Property, including
but not limited to an Environmental Site Analysis (ESA) Phase I and Phase II, to determine
the condition of the Property, the presence of any Hazardous Materials and any apparent
violation of any Environmental Law (the "Environmental Audit") and to deliver a report
describing the findings and conclusions of the Environmental Audit. The cost and expense
of the Environmental Audit shall be borne by Buyer. If the Environmental Audit reveals,
or at any time prior to closing Buyer otherwise becomes aware of the existence of any
environmental condition or violation of any Environmental Law which Buyer is unwilling
to accept or the Seller is unwilling to cure, Buyer shall have the right and option to cancel
this Contract and receive a full return of the Earnest Money.
8. Broker Commission. Seller is responsible for payment of all broker's fees and
commissions incurred in connection with the sale of this property.
9. Possession. At the Closing, the Property will be conveyed free of the rights of possession
of any third parties in or to the Property except for valid easements, if any, filed of record
and currently in force and effect.
10. Representations and Warranties.
By Seller. In order to induce Buyer to enter into this Contract, Seller makes the following
representations and warranties all of which will be true and correct as of the date hereof
and as of the date of closing:
Authority; No Conflict. Seller has the absolute and unrestricted right, power and authority
to execute and deliver this Contract and the documents to be executed and delivered by
Seller in connection with the closing of the transactions described in this Contract (such
documents being collectively referred to herein as "Seller's Closing Documents") and to
perform its obligations under this Contract and the Seller's Closing Documents. Seller shall
present to the Buyer and/or the Title Company, if necessary, all reasonable evidence of
such authority which may be requested by either of them. The execution and delivery of
this Contract and Seller's Closing Documents, the consummation of the transactions
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described herein, and compliance with the terms of this Contract will not conflict with, or
constitute a default under, any agreement to which Seller is a party or by which Seller or
the Property is bound, or violate any regulation, law, court order, judgment, or decree
applicable to Seller or the Property, except as otherwise expressly provided herein.
No Litigation or Proceedings. Seller has no knowledge of any pending or threatened
litigation, condemnation, or assessment affecting the Property.
Environmental Representations. Except as otherwise expressly provided herein, Seller has
no knowledge that the Property contains Hazardous Materials (as defined in Section 10(b)),
contains any underground storage tanks, or is not in full compliance with all Environmental
Laws (as defined in Section 10(b)).
Title to Property. Seller has full and complete fee simple title to the Property, subject only
to the liens and encumbrances, if any, disclosed on the Commitment or Survey to be
furnished to Buyer hereunder.
No Options. No person, corporation, or other entity has or, on the date of Closing, shall
have any right or option to acquire the Property.
Compliance. Seller has not received any notice from any governmental agency regarding
the Seller's or the Property's non-compliance with applicable laws, ordinances, regulations,
statutes, rules and restrictions relating to the Property.
11. As -Is. Buyer acknowledges that Seller makes no representations or warranties with respect
to the present condition of the Property or its fitness or suitability for any particular purpose
and that the Property is to be sold in an "as -is" condition. Buyer confirms that it is relying
solely upon its investigation of the present condition of the Property and all governmental
laws and ordinances which might affect its use and development.
12. Survives Closing. This Contract survives Closing of the sale of the Property and the
delivery of the Warranty Deed and other necessary documents by Seller to Buyer at
Closing, and all terms and conditions remain in effect between Seller and Buyer.
13. Mineral Rights. The sale of this property to the Buyer shall include the surface estate only,
and shall not include any interests in the mineral estate.
14. Essential. Time is of the essence in closing this transaction.
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SELLER
R%nbgxt--d Lozano, aka G.%Lozano, Jr.
Edward G.
STATE OF TEXAS
COUNTY OF NUECES
This instrument was acknowledged before me on q 2021, by Robert G.
Lozano (aka Robert G. Lozano, Jr.) and Edward G. Lozano.
.✓pYP"°•w CYNTHIA BUENO --
°� '1�1'. to# 1178588-3 Notary Public in and for the State of Texas
Notary Public
STATE OF TEXAS
-•' My Comm. Exp. 11-04-2023
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. 1V
CITY OF CORPUS CHRISTI, TEXAS
q�eDate: 021.0 .171d by Jeff Edmonds
{{,, Date: 2021.08.1711:03:08-OS'00'
Jeff H. Edmonds, Director of Engineering Services
THE STATE OF TEXAS
COUNTY OF NUECES
This instrument was acknowledged before me on 4 Vg U-,c't 17 , 2021, by Jeff H.
Edmonds, Director of Engineering Services of the City of Corpus Christi, a Texas municipal
corporatio on behalf of said corporation.
Bobby C. Harraid, Jr.
*; .+ Notary Pudic, State of Texas
Comm. des 12.10.22
OF Notary ID 8000753
ATTEST:
EI EVECCAHUEHUERTA, CITY SECRETARY
Approved as to Legal Form
For the City Attorney
�J 1 08:4 :52 -0
08:46:52-OS'00'
Janet Whitehead, Assistant City Attorney
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Wol4kblic in a e State of Texas
M06 l AUTK09111'
EXHIBIT A
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