Loading...
HomeMy WebLinkAbout00071396aye ~y a 4S C~ ~FN S A~ Rp All cR ~ w BLOC c I~l G N ti C X MUIRFIELD CT m c 3~ a v m `off ~ 4. 1 L- «)5/1 _ a a~y^~ u ~0 E 9 a r c vaa N C7 l m r"1' 4A x spas4 5N 0 $ a y 3 A e4 cr • ■ k N IID LA P m m a 9 V V 01 f 7d' FREDEVELOPMENT MEETING The purpose of a predevelopment meeting io to meet the City Staff that will be involved with your development and identify general iooueo that need further analysis. Along with the discussion of these major issues, staff will talk about the development process, distribute neccooary information and discuss what permits will be required for your particular development. This meeting io in no way a complete review of your project. Staff will perform a formal thorough review once the minimum requirements are submitted for your particular development. Date of Meeting: 1-ac~ -0~ C Pplic ant(q): w ~S ~ c~ e v \ ~ ' -e \ \ P.C t staff preoen C~ c -Qe c~vJv` ~S Qe.~ Q5 i'ro oO ~)-eOAR- Q!-~-4P QTY h© M16cellaneou5: M~ Utility loouco: Water Availability/Capacity: 5anitary 5ewer Availability/Capacity: Impact fees: MR i Electrical 1' 00 \ ~A Fire Hydrant Mlocellaneouo: La n d o ca ping /5treetoca PC: 5idewalko: Dumpoter Location: 5igno: 5creen i ng/Bufferi ng: Variance Requeoto: D~ STATF OF TEXAS ) COUNTY OF BRAZOS ) y,,. . KNOW ALL MEN BY THESE PRESENTS This REAL ESTATE EXCHANGE CONTRACT, herein referred to as the "Exchange Contract", is executed by and between W.D. FITCH (here- inafter referred to as "FITCH"), a resident of Brazos County, Texas, and the COLLEGE STATION ECONOMIC DEVELOPMENT FOUNDATION, a Texas non-profit corporation (hereinafter referred to as "FOUNDA- TION"), pursuant to which FITCH agrees to convey to FOUNDATION the property,•herein referred to as the "Property", which is more particularly described on Exhibit "A" attached hereto, and FOUN- DATION agrees to convey to FITCH the property described on Exhib- it "A" attached hereto and called the "Exchange Property". (1, The Property and the Exchange Property are of the same approximate value as based on the averaqe of three appraisals which assume the completion of Greens Prairie Road, the eighteen inch (18") water line adjacent to Greens Prairie Road, and the completion of the eighteen inch (18") outfall sewer line through the Exchange. Property from Greens Prairie Road to the sewage treatment plant to be constructed by the City of College Sta- tion. Failure to complete the above does not affect the validity of this contract or impose any obligations on either party. (2) The additional consideration and covenants herein pro- vided to be carried forth by the parties hereto will result in an equalization of any unequal evaluation of such properties. (3) The Property will be conveyed to FOUNDATION free and clear of any outstanding liens, debts, or encumbrances aqainst the Property other than those specifically placed on such Prop- erty by FOUNDATION. (4) The Exchange Property will be conveved to FITCH free and clear of any liens, debts, or encumbrances other than those spe- cifically placed on such property by FITCH. NOW, THEREFORE, in consideration of, the premises, the mutual covenants and aqreements herein contained, and each act to be done pursuant hereto, FOUNDATION and FITCH do hereby agree as follows: ARTICLE I EXCHANGE AGREEMENT 1.1 Closing. Date. On or before one hundred twenty (120) days after the execution of this agreement, FOUNDATION will convey the Exchange Property to FITCH by Special Warranty Deed and FITCH will simultaneously convey the Property to FOUNDATION by*Special Warranty Deed. 1.2 Fitch and FOUNDATION shall convey the properties'.to each other by Special Warranty Deed conveying good and marketable title in fee simple free and clear of any liens, debts, judq- ments, and encumbrances. 1.3- FOUNDATION shall seek and secure from City authorization for the substitution of the Property for the Exchange Property as collateral. A partial release of lien on the Exchange Property shall be required for the exchange. 1.4 Any extention of the one hundred twenty (120) day period for the conveyance of the properties shall be by mutual consent of the.parties. 1.5 Upon signing this agreement, the parties hereto shall have free access to the respective properties to be conveyed to them for purposes of surveying, locating, and clearing -street routes and easement routes and any other reasonable purposes pro- vided that no permanent construction or excavation shall be done until the conveyance of these tracts has been finalized. ARTICLE II TITLE SEARCH AND SURVEY 2.1 Title Binder. In the event either party wishes to ob- tain title policies or title certificates on either property, the party desiring such title evidence shall be responsible for the cost and expenses incurred in obtaining such title commitment policy or title search. 2.2 Survey. The field notes attached hereto as Exhibit "A" and Exhibit "B" are accurate property descriptions of the two r-' T 2 - tracts to be exchanged herein, and the parties hereto agree to use the metes and bounds description contained in.Exhibit "A" and Exhibit ",B" for purposes of conveyance of the property therein described. ARTICLE III CLOSING 3.1 Times and Places. The closings herein shall take place at the offices of Lawrence, Thornton, Payne, Watson, and Kling, 308 East 24th Street, Bryan, Texas, or such other place as the parties may mutually agree, but in no event later than 5:00 P.M. one hundred twenty (120) days after the execution of this agree- ment. Possession of the properties shall be delivered at the time of'closing. 3.2 Expenses of Closing. FOUNDATION and FITCH shall be re- sponsible for any attorneys' fees or title searches incurred by each respective party. Each respective party shall also be. re- sponsible for the payment of any tax certificate fees, recording costs,. or other items necessary to record their deed and any and all releases or other instruments necessary to cure title. 3.3 Prorations, rents, and ad valorem taxes on the Property and the Exchange Property shall be prorated at closing. If the actual tax figures are not available on the given closing date, the proration of taxes shall be on the basis of the latest as- sessments and such proration shall be adjusted once the actual taxes for the year are determined. It is understood that the taxes on the Exchange Property will probably not be available at the time of closing. Any and all rents shall be adjusted at the time of closing. ARTICLE IV REPRESENTATIONS AND- CONDITTONIC 4.1 FOUNDATION and FITCH represent to each other that the facts recited below are true and accurate. That if prior to the closing date either party discovers that one or more of such facts are untrue and inaccurate, it will inform the other party in writinq of its discovery. The parties' obligation to consum- mate this transaction shall be contingent upon the lack of any material variance with respect to the truth and accuracy of all such facts as of the date scheduled for the closing of the ex- change. FITCH's and FOUNDATION's representations, warranties, and covenants of this contract shall survive the closing of the property. In accordance with the immediately preceding sentence, FITCH represents that: (a) There is no litigation pending against FITCH, nor has FITCH notice of any contemplated litigation which may in any way affect FOUNDATION's rights or title to the Property. (b) There are no contracts of employment, management, service, supply, or rental outstanding relating to the property. (c) There are condemnation or eminent domain proceed- ings pending against a portion of the property located between Highway 6 East right-of-way boundary and the Property, and such proceedings are being contested by FITCH who may continue to pursue the contest and appeal the condemnation award. Access to the Property is granted by FITCH across the FITCH property located between- the Highway 6 East right-of-way boundary and the Property. FOUNDATION represents: (a) That there is no litigation pending against FOUN-' DATION nor has FOUNDATION notice of any contem- plated litigation which may in any way affect FITCH's rights hereunder or *itle to the E'Xc range Property. (b) There are no contacts of employment, management, service, supply, or rental outstanding relating to the Exchange Property. 4 - (c) There are no condemnation or eminent domain pro- ceedings pending against the Exchange Property, and FOUNDATION has not received any notice there- of. ARTICLE V DEFAULT AND REMEDIES 5.1 Default by FOUNDATION. If FOUNDATION is unable to con- vey title to the Exchange Property in accordance with this Ex- change Contract or FOUNDATION otherwise fails to perform, any of its obligations under this Exchange Contract, FITCH may, at his option, terminate this Exchange Contract by written notice to the FOUNDATION on or prior to the closing date of the properties, or FITCH may waive any title defects or defaults and proceed to con- summate the transactions contemplated hereby, or FITCH may en- force specific performance of this Exchange Contract. 5.2 Default by FITCH. If FITCH is unable to convey title to the Property in accordance with this Exchange Contract, or if FITCH otherwise fails to perform any of his obligations under this Exchange Contract, FOUNDATION may, at its option, terminate this Exchange Contract by written notice to FITCH on or prior to the closing date of the properties, or FOUNDATION may waive any title defects or defaults and proceed to consummate the transac- - tions contemplated hereby, or FOUNDATION may enforce specific performance of this Exchange Contract. 5.3 Attorneys' Fees. In the event of any litigation result- ing from default by either party hereto, each party shall be solely responsible for his own attorney's fees. ARTICLE VI MISCELLANEOUS 6.1 Fees and C-mmissions. FITCH and FOUNDATION warrant and represent to each other that they have not incurred any obliga- tion in connection with the contemplated transaction other than as specifically provided for herein and agree to indemnify and hold the other party harmless from any liability therefor. The parties each represent to the other that no agent or other party t`:1.5 - 6.6 Parties Bound. This Exchange Contact shall be binding upon and inure to the benefit of FITCH and FOUNDATION and their respective heirs, personal representatives, successors, and as- signs. 6.7 Further Acts. In addition to the acts recited in this Exchange Contract to be performed by FITCH and FOUNDATION, the parties hereto agree to perform or cause to be performed at the closing or after the closing, any and all such further acts as may be reasonably necessary to consummate the transactions con- templated hereby. ARTICLE VII SPECIAL COVENANTS AND CONDITIONS 7.1 As additional consideration for the conveyance of the Property to FITCH by FOUNDATION, FITCH agrees to construct in ac- cordance with City's ordinances and policies the streets shown on the attached and signed proposed Master Preliminary Plat (which -can be changed or subjected to further revision) attached hereto as Exhibit "C-1" as follows: (a) The street called "Marsh Parkway" extending from Greens Prairie Road for a distance of approxi- mately 2,350 feet to the northwest boundary line of the Property. The route of this road shall be parallel to Highway 6. Such road shall be con- structed on or before two hundred seventy (270j' days from the date of closing. (b) The street called "Enterprise Avenue", including the culvert needed, extending from Highway 6 right-of-way after condemnation, to the northern most corner of the Property as adjusted after conae-mnation along a route centered on the north- west property line of said property. FITCH and FOUNDATION shall provide and dedicate one-half of "T the right-of-way required for the construction of Enterprise Avenue. Such road shall be con 7 - , a atructed on or before two hundred seventy (270) days from the date of closing. 7.2 The FOUNDATION agrees to construct the streets shown on Exhibit "C-2", signed proposed Master Preliminary Plat; which may +r, be subject to further revision by the FOUNDATION as follows: (a) The extension of Marsh Parkway in a southeasterly direction through the Property to provide for continuation of this thoroughfare approximately parallel to Highway 6. (b) The construction of a major thoroughfare from Highway 6 through the Property in a northeasterly direction and extending to the. northeastern 'line of the Property. (c) The exact routes of these streets and the time frame for construction are to be determined by the FOUNDATION to provide a suitable thorough- fare access to the FITCH land located east of the Property. 7.3 As additional consideration for the conveyance of the Property by FITCH and construction of Enterprise Avenue by FITCH without expense to the FOUNDATION, the FOUNDATION agrees to ob- tain from the City waiver of any assessment to FITCH for any part of the cost of the Greens Prairie Road construction, and for any part of the water line constructed along Greens Prairie Road, and for any part of the City's planned sewage disposal plant and the eighteen inch (18") outf.all line to be constructed through the Exchange Property from the sewer plant to a point in the Greens Prairie Road right-of-way as a condition to the consummation of this transaction. This provision does not preclude the option of the City in the future to impose "capital recovery fees", if it so desires, upon future construction by users of utilities. Upon designation of the location of the eighteen inch (18") sanitary sewer line to be constructed, FITCH shall dedicate to the City;• upon submission of a metes and bounds description by the City, an easement for the length of the right-of-way overlapping the line - 8 - ,~,r i by a width of thirty feet (30'), and a temporary construction easement of fifty feet (501) overlapping the permanent thirty foot (301) utility easement. 7'Vif='As~;additional consideration for the conveyance to FITCH , of the Exchange Property, FITCH shall construct, according to City regulations and policies, a sewer line extending from the aforementioned City eighteen inch (18") sanitary sewer line along a route selected by FITCH to a point below the lowest elevation of the Property at the east corner of said Property. It is understood that any oversize expense will rest with the FOUNDA- TION or the City as they may agree. Upon construction of the line, FITCH and FOUNDATION shall each dedicate to the City on their respective. properties an easement for the length of the line by a width of thirty (30) feet covering the area of the utility(ies). Construction of the sewer line extension to the Property shall be completed within thirty (30) days of the com- pletion of the eighteen inch (18") sewer line by the City. 7.5 The cost of streets and utilities that will service both properties and are located on common boundaries shall be borne equally by FITCH and FOUNDATION upon mutual agreement, and fur- they, any land upon which said common improvements are located shall be donated equally by FITCH and FOUNDATION. 7.6 FOUNDATION agrees to obtain City approval and acceptance of a strip of approximately twenty-eight (28) acres of land for, parkland dedication, said parkland strip being centered on the present common boundary line between the FITCH land and the FOUN- DATION's land, and said strip containing the Gulf States Utili- ties easement on the FOUNDATION property and the City electric easement, heretofore granted by FITCH, along said joint property line, and ':ha prior existing Pxxon pipeline easement located on the FITCH property; all of said parkland strip being depicted in the attached Exhibit "D". Said parkland strip shall be dedicated by FITCH to the City for parkland purposes and may be applied fully toward future - 9 - parkland requirements of the future developments on these two tracts. It is further agreed that the minimum two hundred foot (2001) width for the parkland has been waived by City as to FOUN- DATION and that the FOUNDATION is authorized to waive that re- quirement upon conveyance of the Exchange Property to FITCH. The City under its parkland dedication ordinance maintains parkland conveyed to it. It is' further agreed that part of the parkland strip may be used by FITCH for a route for a major street or boulevard, that such street's design and street crossings shall be con- structed in a manner to allow and provide the construction by the City of a pedestrian walkway of City design to extend the length of the park strip from Greens Prairie Road to the two hundred foot (2001) wide parkland access at the most southerly point of .the park strip. It is intended that the parkland strip be one contiguous strip of land which shall be crossed by streets. However, in the event that the parkland. strip is utilized from right-of-way, FITCH shall.dedicate additional property parallel, adjacent, and contiguous to the parkland strip, adjacent and contiguous to the location of the right-of-way; said property shall be of equiva- lent acreage and shape as the right-of-way strip unless otherwise agreed by the parties. 7.7 Presently there exists outstanding mineral interests and FITCH and the FOUNDATION have been jointly working to obtain sur- face waivers from the owners of such minerals and/or working in- terests. FITCH and FOUNDATION agree to continue to cooperate with each other in obtaining such surface waivers from the miner- al and/or ,,'_r3'-ing interest owners. (a) FITCH shall be responsible for costs; if any, of ob- taining waivers on the Exchange Property, and FOUNDA- TION shall be responsible for costs, if any, of ob- taining waivers on the Property. The surface waiver - 10 - x 1 shall be obtained prior to closing. In the event such waivers cannot be obtained prior to closing, this contract shall terminate unless such' requirement is mutually waived in writing by both parties. (b) In order to provide for the possible future develop- ment of minerals under the Property and the Exchange Property without damage to the surface of the land and to enable compliance with City ordinances, a plat depicted and attached hereto as Exhibit "E" has been prepared showing four (4) proposed drilling sites-de- termined by Steve Holditch, an experienced consul- tant, to be adequate for future recovery of oil or gas. FOUNDATION and FITCH agree to establish these designated and adequate drilling sites as the only permissible locations on the FITCH and FOUNDATION properties in which future drilling will be allowed, subject to the approval of such desiqnations by the owners of such minerals and/or working interests. Descriptions of these sites by metes and bounds and the proposed access routes to these sites are attach- ed hereto as Exhibit "F". ARTICLE VIII SURVIVAL OF CLOSING 8.1 The terms and conditions,.covenants and obligations con- tained herein, and duties on the parties hereto shall survive the closing and remain obligations of the parties hereto until such agreements and covenants have been fulfilled and completed., 8.2 This contract must be executed by all parties with no changes prior to 5:00 p.m., February 6, 1987. 74 WITNESS OUR HANDS this the day of 1987. W. D. FITCH COLLEGE STATION ECONOMIC DEVE E FOUNDATION BY. , ~ L ill 2 - 11 - STATE OF TEXAS ) ACKNOWLEDGMENT COUNTY OF BRAZOS ) This instrument was acknowledged before me on the day of ~''~,~'.LUr ► 19=, by W.D. Fitch. Notary Public in and or the State of T, X A S Printed Name: My Comm. Exp. -1L1- STATE OF TEXAS ) ACKNOWLEDGMENT COUNTY OF BRAZOS ) This instrument was acknowledged before me on the day of 19 , by , as of the College Station Economic Development Foundation. Notary Public in and for the State of T E X A S Printed Name: My Comm. Exp.: - 12 -