HomeMy WebLinkAboutRES 15-001RESOLUTION NO. 15-001
BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF BEAUMONT:
THAT the City Manager be and he is hereby authorized to execute a Contract for Sale
between the City of Beaumont and Monterrey Rentals LLC for the purchase of the property
located at 2505 Sweetgum Lane in the amount of Three Hundred Twenty -Five Thousand
and XX/100 Dollars ($325,000) through the Federal Emergency Management Agency
(FEMA) Severe Repetitive Loss (SRL) Grant Program. The contract is substantially in the
form attached hereto as Exhibit "A" and made a part hereof for all purposes.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the 13th day of
January, 2015.
FLOOD DAMAC,CU PROPERTY CO.NTRAcr FOR SALE
THIS AGREEMENT is made and entered into this A2!day of _ �f.: „t �j4, , 201y, by and between the City of
Beaumont a political subdivision of the State of Texas ("City"), and Monterrey Rentals LLC, ("Seller"), regardless of
the number of signatories.
City is acting under a FEMA Flood Mitigation Assistance (FMA) grant Administered by the Texas Watch Deveiopnteru Board
(TWDR) and desires to purchase front Seller the Monterrey Apartments: A tract of land containing +/- 1.2£90 acres (i!-
56,150 square feet) of land area, improved with 32 -unit apavutient complex, containing a net rentable area oft18,208 square
feet, and supporting; site improvements. Tire subject property is localecl at the southwest cornu of Swcetgw)i Lane and North
10th Street, in Beaumont, Jefferson County, Texas. The subject has a physical address of 2505 Sweeigum lane, Beaumont,
Jefferson County, Texas 77703.
Seller represents and understands:
• The Premises is categorized by FEMA as a Severe Repetitive Loss (SRL) property;
• Seller qualifies for the assistance being granted under die IMA grant;
• The Seller has no obligation to sell the Premises under this program and does so voluntarily; and
• That if Seller withdraws front this sale, City will not exercise its power of eminent domain but will release Seller
front the loins and conditions ofthis Contract for Sale.
The parties agree as follows:
I . Seller agrees to sell the Premises described above to City for the sunt of $325,000.00 and to execute and deliver
a good and suf icienl General Warranty Deed conveying marketable title to said Premises in fee simple, clear of all
liens and cttcumbrah)ccs.
2. City agrees to pay Seller for said Premises the sum of $325,000.00 payable at closing after the acceptance of
this Agreement and approval ofSeller's title.
3. Seller acknowledges that the price to be paid for the properly the cur eat fair inarket value of $325,000.00 with
deductions for any insurance payment received by SELLER for structural damage from flood insurance of $0.00
and structural damage from wind insurance of$0.00 and $0.00 for any Disaster Housing Assistance program (DHA)
(structural repairs) and/or $0.00 for Other Needs Assistance (ONA) for which SELLER cannot document as
expended on repair of the damaged structure, and a reimbursement of $0.00 for ceitain repairs For which receipts
were provided have been added.
4. Seller's proceeds frorn the sale of the Premises shall first be applied to satisfy all liens on the property,
including real estate taxes, which are due and payable to the date of sculement.
5. Seller understands that Flood Mitigation Assistance funds being used for the purchase of the Premises
cannot and will not duplicate benefits received by Seiler for the saute or from any other funds. Seller agrees to
return any disaster aid monies received if such atonics amount to a duplicity of benefits.
6. Seller will execute all necessary documents to transfer good and marketable fee simple title to the Premises
to City. Seller also agrees to execute now and in the future, any and all documents required by City and/or
TDENI ie complete this transaction and to comply with City, state or federal regulations relaiing to the federal
grants.
7. Seller will not, without prior written notification to and written approval received from City, remove any
improvements on [ire Premises. Upon application to remove such improvements Seller must provide
appraisals of such improvements as is required by City. The value of the improvements allowed to be removed
by City, as unilaterally determined by City, will be deducted from the purchase price at closing or, if post
closing, paid by Seller to City within ten (10) days alter removal.
8. Seller agrees that no fixtures, maierials or improvements to the real estate may be removed by Seller or by
anyone acting under his direction or with his permission from the Premises.
9. Seller also agrees that due [o the price he is paid for the Premises and due to third pally liability concerns,
he will not be permitted by City to salvage any materials now or at vinic of demolition. Should such materials
be removed, the purchase price for the Premises will be reduced to correspond will) the fair market value of
the Premises less the fair market value of the materials removed.
10. Seller understands this is a voluntary transaction. Accordingly, Seller iirrther understand that he is not
entitled to relocation benefits provided by the Uniform Relocation Assistance and Real Property
Acquisition Policies Act (URA), and will not claim any such benefits.
EXHIBIT "A"
1 L Seller acknowledges that Inc has had an opportunity to review this Contract for Sale, that he has had an
opporlumly, if he so chose, to engage the services of an attorney of his choice to review this document, that lie
has executed this Contract for Sale fully understanding its terms and conditions and the nature thereof and
that he Saves and Holds Harmless City and TWDB incurred by Seller as a result of executing this Contract
for Sale, and/or 6or selling the Premises to City.
12. This Contract for Sale is binding upon Seller's and City's heirs, executors, successors and assigns.
llATEDthis/_"lrtdayof L��-t'l��Jt'Y 2014,
61/
Seller Signature__,____._
Montcrrelltentals LLC
Seller Printed Name
City of Beaumont
BY;