Ordinance No. 12,552ORDINANCE NO. 12,552
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF BAYTOWN,
TEXAS, AUTHORIZING THE MAYOR TO EXECUTE THE ASSIGNMENT
AND ASSUMPTION OF PURCHASE AND SALE AGREEMENT WITH
CHAMBERS COUNTY IMPROVEMENT DISTRICT NO. 1; AND
PROVIDING FOR THE EFFECTIVE DATE THEREOF.
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BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN,
TEXAS:
Section 1: That the City Council of the City of Baytown, Texas, hereby authorizes
the Mayor to execute the Assignment and Assumption of Purchase and Sale Agreement with
Chambers County Improvement District No. 1. A copy of said assignment is attached hereto as
Exhibit "A," and incorporated herein for all intents and purposes.
Section 2: This ordinance shall take effect immediately from and after its passage by
the City Council of the City of Baytown.
INTRODUCED, READ and PASSED by the affirmative vo of the City Council of the
City of Baytown this the 22nd day of May, 2014.
TEPHEN H. DONCARLOS(, Mayor
ATTEST: A PS....' '�bal��
TICIA BRYSCH, ity Clerk o `�` 4,
APPROVED AS TO FORM:
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Exhibit "A"
ASSIGNMENT AND ASSUMPTION OF
PURCHASE AND SALE AGREEMENT
This Assignment and Assumption of Purchase and Sale Agreement (this "Agreement') is
made and entered into by and between CHAMBERS COUNTY IMPROVEMENT DISTRICT
NO. 1 ( "Assignor ") and THE CITY OF BAYTOWN, TEXAS ( "Assignee ").
RECITALS
A. Cedar Crossing, L.P., a Texas limited partnership ( "Seller "), and Assignor, as
Purchaser, entered into that certain Purchase and Sale Agreement executed by Assignor on
April 9, 2014 and by Seller on May 7, 2014 (the "Contract ") relating to the purchase and sale of
the 60 acres of land located in Chambers County, Texas, as more particularly described therein
(the "Property"); and
B. Assignor desires to assign to Assignee all of Assignor's rights, duties and obliga-
tions under the Contract, subject to the terms of this Assignment; and
C. Assignee desires to accept such Assignment, and assume all duties and obliga-
tions of Assignor under and pursuant to the Contract.
ASSIGNMENT
NOW THEREFORE, for and in consideration of the sum of Ten and No /100 Dollars
($10.00) and other good and valuable consideration, the receipt and legal sufficiency of which
are hereby acknowledged by both parties, Assignor and Assignee hereby agree, each to the other,
as follows:
1. Assignor hereby sells, transfers, assigns and conveys unto Assignee all of
Assignor's right, title and interest in and to the Contract.
2. Assignee hereby agrees to all of the terms and conditions of the Contract and
assumes and covenants to observe and perform all of the duties and obligations of purchaser
under the Contract. Contemporaneously with the execution of this Agreement, Assignee has paid
Assignor $25,000 in reimbursement for the earnest money deposited by Assignor under the
Contract.
3. The agreements, covenants, warranties and representations contained in this
Assignment are binding on and shall inure to the benefit of the parties hereto and their respective
heirs, legal and personal representatives, successors and assigns.
4. This Assignment may be executed in any number of counterparts that together
shall constitute one and the same instrument.
[SIGNATURES APPEAR ON FOLLOWING PAGE.]
3727827v1
Executed to be effective as of , 2014.
ASSIGNOR:
CHAMBERS COUNTY IMPROVEMENT
DISTRICT NO. 1
By:
Name:
Title:
ASSIGNEE:
THE CITY OF BAYTOWN, TEXAS
By:
Name:
Title:
3727827vl SIGNATURE PAGE TO ASSIGNMENT AND ASSUMPTION OF PURCHASE AND SALE AGREEMENT