HomeMy WebLinkAboutPR 12270: BASCO CONSTRUCTIONP. R. ~Oo Z2270
RESOLUTION NO.
A RESOLUTION APPROVINH A CONTRACT TO PURCHASE
AN OFFICE BUILDINH FROM BASCO CONSTRUCTION,
INC. LOCATED AT 4173 39TM STREET TO THE
SECTION 4A PORT ARTHUR ECONOMIC DEVELOPMENT
CORPORATION IN THE AMOUNT OF $235,000.00
ACCOUNT NO. 120-1429-582.82-00.
WHEREAS, the Section 4A Economic Development Corporation would
like to purchase the office building and land located at 4173 39th
Street from Basco Construction,
WHEREAS, the punch list of
attached as Exhibit "A"; and
WHEREAS, the Board of Directors
Inc; and
the City Building Inspector is
of the Port Arthur 4A Economic
Development Corporation approved the purchase of building and lots
on July 28, 2003 by a unanimous vote not to exceed $238,000; and
WHEREAS, the actions of Section 4A Economic Development
Corporation require the approval by the City Council; and
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PORT ARTHUR:
Section 1.
and correct.
Section 2.
contract in substantially the
That the facts and opinions in the preamble are true
Exhibit ~B"
Section 3.
spread upon the Minutes
for $235,000.
That a copy of the caption of
of the City Council.
this Resolution be
That the City Council herein approves the purchase
same form as attached hereto as
READ, ADOPTED AND APPROVED on this __ day of ,
A.D., 2003, at a Regular Meeting of the City Council of the City
of Port Arthur, Texas,
Mayor
by the following vote:
, City Council
AYES:
NOES:
OSCAR ORTIZ, MAYOR
ATTEST:
EVANGELINE GREEN, CITY SECRETARY
APPROVED AS TO FORM:
MARK T. SO~OLOW, CITY ATTORNEY
APPROVED ~IR ~MINISTRATION:
STEVE FITIGIBBONS, CITY MANAGER
AS TO FORM:
JRM~MBERLEY
APPROVED AS TO AVAILABILITY OF FUNDS:
REBECCA UNDERHILL, DIRECTOR OF FINANCE
APPROVED FOR SECTION 4A ECONOMIC DEVELOPMENT CORPORATION:
IGALIOUS "Ike" MILLS, EXECUTIVE DIRECTOR
EXHIBIT ~A"
INSPECTION, PUNCH LI~T
Building Inspection Division
4444th Streel (409) 983-8261
P.O. Box 1089 Port Arthur, Texas 77641
'~Dir. of Community Service"
Lawr=nce..Bak=r
"Buildiog Official"
Kola Olayiwola
Manager's Name
Business Phon~ Other Phone
'- ~,, I
/I ~.&,. Y~'Al,~/~,'~,~r~, ~0 rode'
I
EXHIBIT
COMMERCIAL REAL ESTATE PURCHASE CONTRACT
WARNING: THIS CONTRACT HAS SUBSTANTIAL LEGAL CONSEQUENCES AND THE
PARTIES ARE ADVISED TO CONSULT LEGAL AND TAX COUNSEL.
1. PARTIES: Seller agrees to sell and convey to Buyer the Property described in Paragraph 2. Buyer agrees to
buy the Property from Seller for the sales price stated in Paragraph 3. The parties to this contract are:
Seller: Ba_~c9 C_~n~_o tr,lctien
Address: P.O. BOX 1025 Nederland. TX
Phone: 409-722-6428 Fax:
77627
Buyer: Port Arthur Economic Development Corporation'
Ad.ess: P.O. Box 1089.. Port At'hiltr TX 776A1-1~Rq
Phone: (409~ 983-8195 ~' Fax:
2. PROPERTY
A. "Property" means that real property situated in
4173 39th Streett Port Arthur,
described on the attached Exhibit "A"
Jefferson County, Texas at
Texas (address) and that is legally
or as follows:
Seller will sell and convey the property together with:
· (1) all buildings, improvements, and fixtures;
(2) all rights, privileges, and appurtenances pertaining to the Property, including Seller's right, title,
and interest in any minerals, utilities, adjacent streets, alleys strips, gores, and right-of-way;
(3) Seller's interest in all leases, rents, and security deposits for all or part of the Property;
(4) Seller's interest in all licenses and permits related to the Property;
(5) Seller's interest in all third part warranties or guaranties, if transfemble, relating to the PropertY
or any fixtures;
(6) Seller's interest in any trade names, if transferable, used in connection with the Property; and
(7) all Sellers' tangible personal property located on the Property that is used in connection with the
Property's operations except: appliances { excludin.g dishwasher),
equipment, building materials and personal items..
3. SALES PRICE: at or before closing, Buyer will pay the following sales price for the property:
A. Cash portion payable by Buyer at closing ....................................................... $ 3,750.00
B. Sum of all financing described in Paragraph 4 ............. ~,~.3.1.,.~5. Q.,.Q.O ............. $(see Exhibit B)
$235,000.00
C. Sales price (sum of 3A and 3B) .................................................................... ~ .
4. FINANCING:
[] A. Third Part~ Financing: One or more third party loans in the total amount of $
· This contract.
(1) is contingent upon Buyer obtaining third party financing in accordance with the attached Financing
Addendum.
(2) Is no~t contingent upon Buyer obtainLng third party financing.
[] B. Assumption: In accordance with the attached Financing Addendum, Buyer will assume the existing
pronfissory note secured by the Property, which balance at closing will be $
[] C. Seller Financing: The delivery of a promissory note and deed of trust fi.om Buyer to Seller under terms
of the attached Financing Addendum in the amount of $
5. EARNEST MONEY:
A. Not later that,~ays after the effective date, Buyer must depositS2,0 0 0.0 0
with Port Arthur Abstract:~'
(title company and escrow agent) at, (title
company's address). Buyer will deposit additional eamest money of$ N/A onor
before: [] (i) the th day after the Buyer's right to terminate under Paragraph 7B (3) exph'es; or []
(ii) N / A The title company is the escrow agent under this
contract.
B. If Buyer fails to timely deposit the earnest money, seller may terminate this contract by providing written notice
to buyer before Buyer deposits the earnest money and. may exercise Seller's remedies under Paragraph 15.
6. TITLE POLICY, SURVEY, AND UCC SEARCH:
A. Title Policy:
(1) Seller, at~ sr ~x~ense, will furnish Buyer an Owner's Policy of Title Insurance (the title p°licy)i~sued
by the title company in the amount of the sales price, dated at or after closing, insuring Buyer against loss
under the title policy, subject only to:
(a) those title exceptions permitted by this contract or as may be approved by Buyer in writing; and
(b) the standard printed exceptions contained in the promulgated form of title policy unless this contract
provides otherwise.
(2) The standard printed exception as to discrepancies, conflicts or shortages in area and boundary lines, or any
encroachments or protrusions, or any overlapping improvements:
[] (a) will not be amended or deleted fi.om title policy.
]~X (b) will be amended to read "shortages in areas' at the expense Ofx~ Buyer [] Seller.
(3)
(4)
Buyer may object to any restrictive covenants on the Property within the time r~quired under Paragraph 6D.
Within 1 0 _days after the effective date, Seller will furnish Buyer a commitment for title insurance
(the commitment) including legible copies of recorded documents evidencing title exceptions. Seller
authorizes the title company to deliver the commitment and related documents to Buyer at Buyer's address.
B. Survey:
(1) With/n 1 5 days after the effective date:
~( (a) Buyer will obtain a survey of the Property at Buyer's expense and deliver a copy of the
survey to Seller.
[] (b) Seller, at Seller's expense, will furnish Buyer a survey of the Property da~ed after the
effective date.
[] (c) Seller will deliver a tree and correct copy of Seller's existing survey of the Property dated
· Seller, at Seller's expense:
[] (i) will have the existing survey recertified on a date no earlier
than
[] (ii) will not have the existing survey recertified. Seller [] will [] will not deliver to the
title company an affidavit required by the title company for approval of the survey that
states that Seller knows of no changes or alterations to the Property as depicted on the
survey.
(2) The survey required under Paragraph 6B (1) must be made by a Registered Professional Land
Surveyor acceptable to the title company. The survey must:
(a) identify the Property by metes and bounds or platted lot description:
(b) show that the survey was made and staked on the ground with comers permanently
marked:
(c) set forth the dimensions ai~d total area of the Property;
(d) show the location o f all improvements, highways, streets, roads, railroads, rivers, creeks
or other waterways, fences, easements, and rights-of-way referenced to their recording
information:
(e) show any discrepancies or conflicts in boundaries, any visible encroachments, and any
portion of the Property lying in a special flood hazard area (an "A" or "V" zone as shown
on the current Federal Emergency Management Agency (FEMA) flood insurance rate
map); and
(f) contain the surveyor's certificate that the survey is true and correct.
D. UCC Search:
[] (1) Witkin days after the effective date, Seller, at Seller's expense, will furnish Buyer a
Uniform Commercial Code (UCC) search prepared by a reporting service and dated after the
effective date. The search must identify documents that are on file with the Texas Secretary of
State and the county where the Property is located that relate to all personal property on the
Property and show, as debtor, Seller and all other owners of the personal property in the last 5
years.
(2) Buyer does not require Seller to furnish a UCC search.
7. PROPERTY CONDITION:
[] A. Present Condition: (Check (1) or (2) only.)
[] (1) Buyer accepts the Property in its present "as-is" condition.
fk (2) Buyer accepts the Property in its present condition except that Seller, at Seller's expense,
will complete the following before closing: See Exhibit "C"
[] B. Feasibility:
(1) Inspections, Studies, or Assessments:
(a) Within 1 5 days after the effective date, Buyer, at Buyer's expense, may complete
or cause to be completed inspections, studies, or assessments of the Property, including
all improvements and fixtures. Inspections, studies, or assessments may include, but
are not limited to:
(i) physical property inspections (for example, structural pest control,
mechanical, structural, electrical, and plumbing inspections);
(ii) economic feasibility studies;
(iii) environmental assessments (for example, soil test, air sampling, and paint
sampling);
(iv) engineering studies; and
(v) compliance inspections (for example, compliance determination with
zoning ordinances, restrictions, building codes, and statues).
(b) Seller, at Seller's expense, will turn on all utilities necessary for Buyer to make
inspections, studies, or assessments.
(c) Buyer must:
(i) employ onl~ trained and qualified inspectors and assessors;
(ii)
(iii)
(iv)
(v)
notify Seller, in advance, of when the inspectors or assessors will be on the
Property;
abide by any reasonable entry rules or requirements that Seller may require;
not interfere with existing operations or occupants of the Property; and
restore the Property to its original condition if altered due to inspections,
studies or assessments that Buyer completes or causes to be completed.
(d)
Except for those matters that arise from the negligenc& of Seller or Seller's agents,
Buyer is responsible for any claim, liability, encumbrance, cause of action, and
expense resulting from Buyer's inspections, studies, or assessments, including any
property damage or personal injury. Buyer will indemnify, hold harmless, and
defend Seller and Seller's agents against any claim involving a matter which Buyer
is responsible under this paragraph. This paragraph survives termination of this
contract.
(2) Feasibility Period and Right to Terminate: Buyer may terminate this contract for any reason
within 20 days after the effective date by providing Seller with written notice of termination.
If Buyer does not terminate within the time required, Buyer accepts the Property in it present "as
is"condition, subject to completion of repairs and modifications
detailed in Exhibit "C".
8. CLOSING:
Theclosingofthesalewillbeonorbefore October 1, 2003
or within 7 days after objections to title have been cured,
whichever date is later (the closing date). IF either party fails to close by the closing date, the
non-defaulting party may exercise the remedies in Paragraph 15.
*B.
At closing, Seller will execute and deliver, at Seller's expense, a [{] general [] special warramy
deed. The deed must include a vendor's lien if any part of the sales price is financed. The deed
must convey good and indefeasible title to the ProPerty and show no exceptions other that those
permitted under Paragraph 6 or other provisions of this contract. Seller must convey the
Property at closing:
(1) with no liens, assessments, or Uniform Commercial Code or other security interest against
the Property which will not be satisfied out of the sales price unless securing loans Buyer
assumes;
(2) without any assumed loans in default; and
* For purposes herein "closing" shall occur upon final payment
by Buyer as detailed in Exhibit "B".
4
(3) with no persons in possession of any part of the Property as lessees, tenants at sufferance, or
trespassers except tenants under the written leases assigned to Buyer under tiffs contract.
C. At closing, Seller, at Seller's expense, will also deliver:
(1) tax statements showing no delinquent taxes on the Proper~y;
(2) a bill of sale with warranties to title conveying title, free and clear of all liens, to any
personal property defined as part of the Property in Paragraph 2 or sold under this contract;
(4) to the extent that the following items are assignable, an assignment to Buyer of the
following items at they relate to the Property or its operations: (a) licenses and permits;
(b) maintenance, man.agement, and other contracts; and
(c) warranties and gdaranties;
(6) evidence that the person executing this contract is legally capable and authorized to bind
Seller; and
(7) any notices, statements, certificates, affidavits, rel~eases, and other documents required by
this contract, the commitment, or law necessary for the closing of the sale and the issuance
of the title policy, all of which must be completed and executed by Seller as necessary.
D. Atcldsing, Buyerwill} in compliance with Exhibit "B": (1)pay the sale price in good funds acceptable to the escrow agent;
(2) deliver evidence that the person executing tiffs contract is legally capable and authorized to
bind the Buyer;
(3) execute and deliver any notices, statements, certificates, or other documents required by this
contract or law necessary to close the sale.
9. POSSESSION:Seller will deliver possession of the Property to Buyer upon closing and funding of
this sale in its present condition with any repairs Seller is obligated to complete under this contract,
ordinary wear and tear excepted. Until closing, Seller will operate the Property in the same manner as
on the effective date sold under this contract. Any possession by Buyer before closing or by Seller
after closing that is not authorized by a separate written lease agreement is a landlord-tenant at
sufferance relationship between the parties.
10. SPECIAL PROVISIONS: (Identify exhibit if special provisions are contained in an attachment.)
11.SALES EXPENSES:
A. Seller's Expenses: Seller will pay for the following at or before closing:
(1) releases of existing liens, other that those liens assumed by the Buyer, including prepayment
penalties and recording fees;
(2) release of Seller's loan liability, if applicable;
(3) tax statements or certificates;
(4) preparation of the deed and any bill of sale;
(5) on-half of any escrow fee;
(6) costs to record any documents to cure title objections that Seller must cure; and
(7) other expenses that Seller will pay under other provisions of this contract.
B. Buyer's Expenses: Buyer will pay for the following at or before closing:
12.
(1) all loan expenses (for example, application fees, origination fees, discount fees, buy-down fees,
commitment fees, appraisal fees, assumption fees, recording fees, tax service fees, mortgagee
title policy expenses, credit repot} fees, documents preparation fees, interest expense that
Buyer's lender requires Buyer to pay at closing, loan related inspection fees, amortization
schedule fees, courier fees, underwriting fees, wire transfer fees, and other fees required by
Buyer lan&0;
(2) preparation fees of any deed of trust;
(3)recording fees of the deed and any deed of trust;
(4) premiums for flood and hazard insurance as may be required by Buyer's lender;
(5) one-half of any escrow fee;
(6) copy and delivery fees for delivery of the title commitment and related documents; and
(7) other expenses that Buyer will pay under other provisions of this contract.
ROLL BACK TAXES: If Seller'~hanges the use of the Property before closing or if a denial of a
special valuation on the Property claimed by Seller results in the assessments of additional taxes,
penalties, or interest (assessments) for periods before closing, the assessments will be the
obligation of Seller. If this sale or Buyer's use of the Property after closing results in additional
assessments for periods before closing, the assessments will be the obligation of Buyer. This
Paragraph 13B survives closing.
13. CASUALTY LOSS AND CONDEMNATION:
14.
A. If ant part of the Property is damaged or destroyed by fire or other casualty after the effective
date Seller must restore the Property to its previous condition as soon as reasonably possible
and not later that the closing date. If, without fault, Seller is unable to do so, Buyer may:
(1)terminate this contract and the earnest money, less any independent consideration under
Paragraph 7B(3)(a), will be refunded to Buyer;
(2)extend the time for performance up to 15 days and the closing date will be extended as
necessary;
or
(3) accept at closing:
(i) the Property in its damaged condition;
(ii) and assignment of any insurance proceeds Seller is entitled to receive along with the
insurer's consent to the assignment; and
(ii) a credit to the sales price in the amount of any unpaid deductible under the policy for
the loss.
If before closing, condemnation proceedings are commenced agains~ any part of the Property,
Buyer may"
(1) terminate this contract by providing written notice to Seller within 15 days after buyer is
advised of the condemnation proceedings and the earnest money, less any independent
consideration under Paragraph 7B (3)(a), will be refunded to Buyer; or
(2) appear and defend the condemnation proceedings and any award will, at Buyer's election,
belong to:
(a) Seller and the sales price will be reduced by the same amount; or
(b) Buyer and the sales price will not be reduced.
DEFAULT:
A. If Buyer fails to comply with this contract, Buyer is in default and Seller may:
6
15.
(1) terminate this contract and receive the earnest money as liquidated damages, thereby
releasing the parties from this contract; or
(2) enforce specific performance, or seek other relief as may be provided by law, or both.
B. If Seller fails to comply with this contract, Seller is in default and Buyer May:
(1) terminate this contract and receive the earnest money, less any independent consideration
under Paragraph 7B(3)(a), as liquidated damages, thereby releasing the parties from this
contract; or
(2) enforce specific performance, or seek such other relief as may be provided by law, or
both.
ATTORNEY'S FEES: If Buyer, Seller, any broker, or any escrow agent is a prevailing party
in any legal proceeding brought ufi~ter or with relation to tiffs contract or this transaction, such party
is entitled to recover from the non prevailing parties all cost of such proceeding and reasonable
attorney's fees. This Paragraph 16 survives termination of this contract.
16. ' ESCROW:
17.
[]
[]
A. At closing, the earnest money will be applied fn:st to any cash down payment, then the Buyer's
closing costs, and any excess will be refunded to buyer.
B. If both parties make written demand for the earnest money, escrow agent may require payment
of unpaid expenses incurred on behalf of the parties and a written release of liability of escrow
agent from all parties.
C. If one party makes written demand for the earnest money, escrow agent will give notice of the
demand by providing to the other party a copy of the demand. If escrow agent does no receive
written objection to the demand from the other party within 30 days after the date escrow agent
sent the demand to the other party, escrow agent may disburse the earnest money to the party
making demand, reduced by the amount of unpaid expenses incurred on behalf of the party
receiving the earnest money and escrow agent may pay the same to the creditors.
D. Escrow agent will deduct any independent consideration under Paragraph &B(3)(a) before
disbursing any earnest money to Buyer and will pay the independent consideration to Seller.
E. If escrow agent complies with this Paragraph 17, each party hereby releases escrow agent from
all claims related to the disbursal of the earnest money.
F. Notices under this Paragraph 17 must be sent certified mail, return receipt requested. Notices to
escrow agent are effective upon receipt by escrow agent.
MATERIAL FACTS:
A. To the best of Seller's knowledge and beliefi (Check (1) or (2) only.)
(1) Seller is not aware of any material defects to the Property except as stated in the attached
Property Condition Statement.
(2) Seller is not aware of any of the following, except as described otherwise in this contract:
(a) any subsurface: structures, pits, waste, springs, or improvements;
(b) any pending or threatened litigation, condemnation, or assessment affecting the
Property;
(c) any environmental hazards or conditions that affect the Property;
(d) whether the Property is or has been used ~'or the storage or disposal of hazardous
materials or toxic waste, a dump site or landfill, or any underground tanks or
containers;
18.
19.
20.
21.
22.
23.
24.
(e)whether wetlands, as defined by federal or state law or regulation, am on the Property;
and
(f) any material physical defects in the improvements on the Propegty.
(Describe any exceptions to (a)-(g) in Paragraph 11 or an addendum.) Please see
Seller's Disclosure of Property Condition attached hereto.
NOTICES: All notices between the parties under this contract must be in writing and are effective
when hand-delivered, mailed by certified mail return receipt requested, or sent by facsimile
transmission to the parties addresses or facsimile numbers stated in Paragraph 1.
FEDERAL TAX REQUIREMENT: If Seller is a "foreign person" as defined by applicable law,
or if Seller fails to deliver at closing an affidavit that Seller is not a foreign person, then buyer ~ill
with_hold from the sales proceeds at closing an amount sufficient to comply with appropriate tax
forms. IRS regulations require filing written reports if currency in excess of specified amounts is
received in the transaction. ~ '~
DISPUTE RESOLUTION: The parties agree to negotiate in good faith effort to resolve any
dispute related to this contract that may arise. If the dispute cannot be resolved by negotiation, the
parties will submit the dispute to mediation before resorting to arbitration or litigation and will
equally share the costs of a mutually acceptable mediator. This paragraph survives termination of
this contract. This paragraph does not preclude a party from seeking equitable relief from a court
competent jurisdiction.
AGREEMENT OF THE PARTIES:
A. This contract is binding on the parties, their heirs, executors, representatives, successors, and
permitted assigns.
B. This contract is to be constructed in accordance with the laws of the State of Texas.
C. This contract contains the entire agreement of the parties and may not be changed except in
writing.
D. If this contract is executed in a number of identical counterparts, each counterpart is an original
and all counterparts, collectively, constitute one agreement.
E. Buyer [] may [] may not assign this contract. If buyer assigns this contract, Buyer will be
relieved of any future liability under this contract only if the assignee assumes, in writing, all of
Buyer's obligations under this contract.
TIME: Time is of the essence in this contract. The parties require strict compliance with the
times for performance. If the last day to perform under a provision of this contract falls on a
Saturday, Sunday, or legal holiday, the time for performance is extended until the end of the next
day which is hot a Saturday, Sunday or legal holiday.
EFFECTIVE DATE:The effective date of this contract for the purpose of performance of all
obligations is the date the escrow agent receipts this contract after all parties execute this contract.
ADDITIONAL NOTICES:
Buyer should have an abstract covering the Pr6perty examined by an attorney of Buyer's
selection, or Buyer should be furnished with or obtain a title policy.
If the Property is situated in a utility or other statutorily created district providing water,
sewer, drainage or flood control facilities and services, Chapter 49, Texas Water Code,
requires Seller to deliver and Buyer to sign the statutory notice relating to the tax rate,
bonded indebtedness, or standby fees of the district before final execution of this contract.
8
C. If the Property adjoins or shares a common boundary with the tidally influenced submerged
lands of the state, § 33.135, Texas Natural Resource Code, requires a notice regarding
coastal area property to be included as part of the contract.
D. If the Property is located seaward of the Gulf Intracoastal Waterway, § 61.025, Texas
Natural Resource Code, requires a notice regarding the seaward location of the Property to
be included as part of this contract.
E. If the Property is located outside the limits of a municipality, the Property may now or later
be included in the extra~territorial jurisdiction (ETJ) of a municipality and may now or later
be subject to annexation by the municipality's ETJ, Buyer should contact all municipalities
located in the general proximity of the Property for further information.
25.
CONTRACT AS OFFER: The execution of this contract by the fn:st party constitutes an offer to
buy or sell the Property. Unless the other party accepts the offer by 5;00 p.m., in the time zone in
which the Property is located, orl~ Sepfiember '20, 2003 the offer will lapse and
become null and void. **
READ THIS CONTRACT CAREFULLY. CONSULT your attorney BEFORE signing.
Buyer's Seller's
Attomey is Attomey is
Buyer: Port Arthur Economic
By:
Development Corporation
PfintedName:
Title: Executive Director
~as co Construction
· ' V~_ t
Printed Name'~ ~,~9
Title: President
Buyer: Seller:
By: By:
Primed Name: Primed Name:
Title: Title:
Seller acknowledges that the enforcement of this Contract and
closing of this proposed sale is expressly subject to approval
by (i) the Port Arthur Economic Development Corporation Board
and, (ii) the City Council of the City of Port Arthur. Absent
said approval, this Contract is null and void in all respects.
Exhibit "A"
Property Description
LEGALLY DESCRIBED AS: LT 16,17,18,19 BLK 13 BELLAIRE
PROPERTY ADDRESS: 4173 39TM STREET PORT ARTHUR, TEXAS 77640
Jefferson County Appraisal District
~2002 Certified Values
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Accouut Number: 003950-000-022700-00000-2
_Click for Sketch
Owner Name:
Property Address:
Owner Address:
Legal Description:
BASCO CONSTRUCTION INC
, SHEPPARD AVE
PO BOX 1025
NEDERLAND, TX 776271025
Lq' 16 BLK 13 BELLAIRE 2
Deed Index: 00199846384
Property Use Code: C1
Taxing Entitys:
PORT ARTHUR lSD
PORT ARTHUR PORT
DRAINAGE DIST #7
JEFF CO WAT/NAV
JEFFERSON COUNTY
PORT ARTHUR CITY
FARM AND LATL RD
Exemptions:
Homestead:
Over 65:
Disabled Vet:
Disabled:
Page 1 of 1
Tuesday, September 09, 2003
IValue Info
Total Improvement Value:
Total Land Value:
Total Value:
$O.OOJ
$5,430.00J
$6,430.00J
Land Information Detail
Average Depth: 136.30
Frontage: 70.00
Acreage:
Square Footage:
Land Productivity Value: $0.00
Land Market Value: $5,430.00
~Market Modifiers are methods of adjusting value (positive or negative) based on comparable sales to accurately
reflect current market value as of January I of each year.
http://www.j cad.org/result.asp?subdiv=003950&subext=000&seqnum=022700&seqext=00... 9/9/2003
. Jefferson County Appraisal District Page 1 of 1
~/~/~~d Values
Home
About Jcad
Property Search
-Simple
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Forms
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Reports
Links
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Account Number: 003950-000-022800-00000-0
Click for Sketch
Owner Name:
Property Address:
Owner Address:
Legal Description:
BASCO CONSTRUCTION INC
, SHEPPARD AVE
PO BOX 1025
NEDERLAND, TX 776271025
LT 17 BLK 13 BELLAIRE 2
Deed Index: 00199846384
Property Use Code: C1
Thursday, April 03, 2003
Taxing Entitys:
PORT ARTHUR lSD
PORT ARTHUR PORT
DRAINAGE DIST #7
JEFF CO WAT/NAV
JEFFERSON COUNTY
PORT ARTHUR CITY
FARM AND LATL RD
Exemptions:
Homestead:
Over 65:
Disabled Vet:
Disabled:
Value Info
Total Improvement Value:
Total Land Value:
Tota Value:
$0.00I
$5,430.00I
$5,430.001
Land Information Detail
Average Depth: 136.30
Frontage: 70.00
Acreage:
Square Footage:
Land Productivity Value: $0.00
Land Market Value: $5,430.00
~Market Modifiers are methods of adjusting value (positive or negative) based on comparable sales to accuratety
reflect current market value as of January 1 of each year.
http://~../resu~t~asp?subdiv~~~395~&subext=~~~&seqnum=~228~~&seqext=~~~~~&ckdigt= 4/3/2003
'-'Jefferson County Appraisal District Page 1 of 2
~'; ~"' r12~ed Values
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Account Number: 003950-000-022900-00000-8
Click for Sketch
Owner Name:
Property Address:
Owner Address:
Legal Description:
Deed Index:
Property Use Code:
BASCO CONSTRUCTION INC
4173, 39TH ST
PO BOX 1025
NEDERLAND, TX 77627102~
L~-'18 BLK 13 BELLAIRE 2
39TH ST & SHEPPARD AVE
00199846384
F1
Thursday, April 03, 2003
Taxing Entitys:
PORT ARTHUR lSD
PORT ARTHUR PORT
DRAINAGE DIST #7
JEFF CO WAT/NAV
JEFFERSON COUNTY
PORT ARTHUR CITY
FARM AND LATL RD
Exemptions:
Homestead:
Over 65:
Disabled Vet:
Disabled:
Value Info
Total Improvement Value:
Total Land Value:
Total Value:
$191,030.001
$5,430.00/
$196,460.00J
Improvement Information Detail
Structure A Class Siding Stories Condition Age Area Net Value
Main Building SA3
Garage 1
Garage 2
CONCRETE PARKING
Percentage Complete: 100%
01 GOOD
15 4800 $165,240.00
0 $o.oo
0 $0.00
17192 $25,788.00
Total Improvement Value: $191,030.00
http://.../result.;mp?su bdiv=003950&subcxt:000&scqnum=022900&seqext=00000&ckdigt= 4/3/2003
:'Jefferson County Appraisal District Page 2 of 2
Land Information Detail
Average Depth: 136.30
Frontage: 70.00
Acreage:
Square Footage:
Land Productivity Value: $0.00
Land Market Value: $5,430.00
~Market Modifiers are methods of adjusting value (positive or negative) based on comparable sales to accurately
reflect current market value as of January 1 of each year.
http://.../result.asp?subdiv=003950&subext=000&seqnum=022900&seqext=00000&ckdigt: 4/3/200?,
Jell. son County Appraisal District Page 1 of 1
~~ed Values
Home
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Account Number: 003950-000-023000-00000-6
Click for Sketch
Owner Name:
Property Address:
Owner Address:
Legal Description:
BASCO CONSTRUCTION INC
, SHEPPARD AVE
PO BOX 1025
NEDERLAND, TX 776271025
LT 19 BLK 13 BELLAIRE 2
Deed Index: 00199846384
Property Use Code: C1
Thursday, April 03, 2003
Taxing Entitys:
PORT'ARTHUR lSD
PORT ARTHUR PORT
DRAINAGE DIST #7
JEFF CO WAT/NAV
JEFFERSON COUNTY
PORT ARTHUR CITY
FARM AND LATL RD
Exemptions:
Homestead:
Over 65:
Disabled Vet:
Disabled:
Value Info I
Total Improvement Value: $0.00
Total Land Value: $4,020.00I
Tota Value: $4,o2o.ooj
Land Information Detail
Average Depth: 138.00
Frontage: 51.80
Acreage:
Square Footage:
Land Productivity Value: $0.00
Land Market Value: $4,020.00
~Market Modifiers are methods of adjusting value (positive or negative) based on comparable sales to accurately
reflect current market value as of January 1 of each year.
http://.../result.asp, subd]x =003950&subext=000&seqnum=023000&seqext=00000&ck>= 4/3/2003
N
Exhibit "B"
Buyer will pay the $235,000.00 purchase price at Buyer's sole option, as follows:
(a)
Buyer will pay the full purchase price of $235,000.00 on or before October 15,
2003. (or)
(b) The purchase price of $235,000.00 will be paid as follows:
(1)
Twelve (12) monthly installments of $3,750.00 beginning October 2003
and continuing on the Ist of each month thereafter with the 13th and final
installment due and payable on or before October 1, 2004 consisting of
the entire unpaid principal and interest balance. If Buyer elects option (b)
payment interest on the purchase price shall accrue at six (6%) percent
per annum on the unpaid principal balance.
Exhibit "C"
Property Condition Covenants
Seller agrees to complete construction of a unisex handicap restroom that is ADA
compliant, with construction to be completed at the site of the current shower area. In addition,
Seller shall remove of plumbing connections located in three rooms identified in Exhibit "C-1"
and to enclose opening created from removal with appropriate access panels. Seller further
agrees to replace and/or reset all damaged ceiling tiles throughout the building. Seller further
agrees to complete repairs/modifications/additions to resolve all punch list items detailed in the
City of Port Arthur's inspection as necessary to insure issuance of certificate of occupancy.
l
APPROVED BY THE TEXAS RJEAL ESTATE COMMISSION (TP-.EC)
SELLER'S DISCLOSURE OF PROPERTY CONDITION
10-25-93
(SECTION 5.008, TEXAS PROPERTY CODE)
CONCERN1NG THE PROPERTY AT t~I'']'~ ~q'at-K. ST. ~VA'I'~ /~(L-t~[O~l ~
(Steer Address andCit7) -: ?-/,
THIS NOTICE IS A DISCLOSURE OF SELLER'S KNOWLEDGE OF THE CONDITION OF THE PROPERTY AS OF THE DATE
SIGNED BY SELLER AND IS NOT A SUBSTITUTE FORANY INSPECTIONS OR WARRANTIES THE PURCHASER MAY WISH
TO OBTAiN. IT IS NOT A WARRANTY OF ANY KIND BY SELLER OR SELLER'S AGENTS.
Seller [] is [] is not occupying the Property. If unoccupied, how long since Seller has occupied the Properly?.
1. The Property has the items checked below [Writ~ Yes (Y), No (N), or Unknown (U)]:
__Range
¥"Dishwasher
__Washer/Dryer Hookups
~/' Security System
__TV Antenna
__Ceiling Fan(s)
~ Central MC
~' Plumbing System
__Patio/Decking
__Pool
__Pool Equipment
Fireplace(s)& '
-- Chimney(Woodbuming)
vt'Gas Fixtures
Garage Door Opener(s):
__Oven :,
__Trash Compactor
__Window Screens
~._~_.Fire Detection Equipment
__Cable TV Wiring
.~Attic Fan(s)
~'.~Centr al Heating
__Septic System
.~Outdoor Grill
__Sauna
.~Pool Heater
__Fireplace(s) & Chimney (Mock)
Garage:__Attached
.__Not Attached
__Electronic
__Microwave
__Disposal
__Rain Gutters
__Intercom System
__Satellite Dish
__Exhaust Fan(s)
__Wall/Window Air Conditioning
v/' Public Sewer System
__Fences
__Spa Hot Tub
__Automatic Lawn Sprinkler
System
V'~Gas Lines 0~t./LP)
__Carport
__Control(s)
Water Heater: V'Gas __Electric
Water Supply: V~' City __Well __MUD __Co-op
RoofType: ~'0/~4- p Age: ~ ~.
(approx)
Are you (Seller) aware of any of the above items that are not in working condition, that have knowr! defects, or that are in need of
repair? [] Yes [] No [~Unknown. If yes, then describe. (Attach additional sheets if necessary):
2. Are you (Seller) aware of any known defects/malfunctions in any of the following? Write Yes (Y) if you are aware, writeNo (N)
if you are not aware. V/Ceilings i/Floors
__Interior Walls __ __
__Exterior Walls __Doors __Windows
__Roof __Foundation/Slab(s) __Basement
__Walls/Fences __Driveways __Sidewalks
__Plumbing/Sewers/Septics __Electrical Systems __Lighting Fixtures
Other Structul'al Components (Describe)
0 t A TREC No. OP-H
(Street Address and City)
Page 2 10-25-93
If the answer to any of the above is yes, explain. (Attach additional sheets if necessary):
3. Are you (Seller) aware of any of the following conditions? Write Yes (Y) if you are aware, write No (N) if you ere not aware.
~.~..Active Termites (includes wood- ~.__Termite or Wood Rot Damage ~___Previous Termite Damage
destroying insects)
~.~_Previous Termite Treatment
LWater Penetration
Needing Repair
LPrevious Flooding
kI__Located in 100-Year Floodplain
_~Previous Structural or Roof Repair
Urea-formaldehyde Insulation
LAluminum Wiring
andfill, Settling, Soil
Movement, Fault Lines
If the answer to any of the above is yes, explain. (Attach additional sheets if necessmy):
/~//Hazardous or Toxic Waste
Radon Gas
Previous Fires
Subsurface Structure or Pits
bJ Improper Drainage
~___Present Flood Insurance
Coverage
k/.~Asbestos Components
~_~_uLead Based Paint
nplatted Easements
4. Are you (Seller) aware of any item, equipment, or system in or on the Property that is in need of repair? [] Yes (if
you are aware) ~ No (if you are not aware). If yes, explain (attach additional sheets as necessary)
5. Are you (Seller) aware of any of the following? Write Yes (Y) if you are aware, write No (Iq) if you are not aware.
Room additions, ~-uctural modifications, or other alterations or repairs made without necessary permits or not in compliance
with building codes in effect at that time.
Homeowners' Association or maintenance fees or assessments.
Any "common area" (facilities such as pools, tennis courts, walkways, or other areas) co-ovmed in undivided interest with
others.
Any notices of violations of deed restrictions or governmental ordinances affecting the condition or use of the Property.
Any lawsuits directly or indirectly affecting the Property.
h/ Any condition on the Property which materially affects the physical health or safety of an individual.
If the answer to any of the above is yes, explain. (Attach additional sheets if necessary):
Date -- - C/' ~ig~amre of Scl]er Date Signature of Seller
The undersigned purchaser hereby acknowledges receipt of the foregoing notice.
Date Signature of Purchaser Date
Signature of Purchaser
0 ~ A TREC No. OP-Iq