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Home My WebLink AboutWarranty Deed - Heritage Erectors Development, Inc - 1301 W PARKWOOD AVE NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING INFORMATION FROM THIS INSTRUMENT BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER. WARRANTY DEED WITH VENDOR'S LIEN IN FAVOR OF MORTGAGEE THE STATE OF TEXAS § § KNOW ALL BY THESE PRESENTS: COUNTY OF GALVESTON § THAT THE LJNDERSIGNED, CITY OF FRIENDSWOOD, a body corporate and politic, hereinafter "Grantor", acting hereunder through its duly authorized Mayor, David Smith, for and in consideration of the sum of$10.00 cash and other good and valuable consideration to Grantor in hand paid by HERITAGE ERECTORS DEVELOPMENT, INC., a Texas corporation, herein called "Grantee, whose address is 1509 Glenwood Drive, Friendswood, Texas 77546, the receipt of which is hereby acknowledged and confessed, and in further consideration of the advances, loans, debts and agreements described in that certain Promissory Note dated of even date herewith in favor of Moody National Bank in the originally stated principal sum of $2,116,680.22 or so much thereof as may be advanced, the foregoing Promissory Note is herein called "the Note", and Moody National Bank, hereinafter "Mortgagee", at the special instance and request of Grantee, having advanced a portion of the sum of the Note as part purchase price for the Land (as hereinafter defined) herein conveyed, Mortgagee is hereby subrogated to all of the rights of Grantor herein; the Vendor's Lien and superior title is hereby expressly transferred to and retained in favor of Mortgagee to secure payment of the Note, the same as if Mortgagee was Grantor herein; the Note being further and additionally secured by, inter alia, Deed of Trust, Security Agreement and Financing Statement of even date herewith from Grantee to T. Craig � Barker, Trustee, in favor of Mortgagee and containing provisions for foreclosure under power of sale, hereinafter referred to as "Deed of Trust", to which reference is hereby made for all purposes; HAS GRANTED, SOLD AND CONVEYED, and by these presents does GRANT, SELL AND CONVEY, unto Grantee all those certain tracts or parcels of land more particularly described on Exhibit "A" attached hereto and made a part hereof(the "Land") together with: all improvements located thereon; all oil, gas and other minerals lying thereunder and not otherwise expressly reserved to another, and the royalties, bonuses, rentals and all other rights in connection with same; all rights, privileges and appurtenances pertaining to all of the foregoing, including Grantor's right, title and interest in any utilities and adjacent strips and gores and Page 1 of 4 Grantor's interest in all leases, rents, and security deposits for all or part of the foregoing; Grantor's interest in any claims heretofore arising for, upon or by reason of any damages to the Land; and Grantor's interest in all licenses and permits related to all or any part of the foregoing; (collectively herein called "The Land"). This conveyance is made and accepted subject to all of the following matters to the extent they are in effect at this time and relate to the Land: the lien for current ad valorem taxes and maintenance assessments (if any) not in default; any outstanding mineral reservations, rights and royalties shown of record in the above mentioned county and state; and all zoning laws, regulations and ordinances of municipal and/or other governmental authorities, if any, to which the Land is subject. Grantor has further granted, sold and conveyed, and does hereby further grant, sell and convey, unto Grantee (1) surface water drainage capacity in and to the detention facility in existence on Restricted Reserve "A", also known as Recreation/Detention Restricted Reserve "A", and on Restricted Reserve "B", also known as Recreation/Detention Restricted Reserve "B", both in Friendswood Lakes, Section l, a subdivision in Galveston County, Texas according to the map or plat thereof recorded at Vol. 11, Page 1176, Map Records of Galveston County, Texas, said Restricted Reserve "A" being 11.47 acres and said Restricted Reserve "B" being 10.08 acres, said Restricted Reserve "A" and Restricted Reserve "B" being hereinafter referred to collectively as the "Detention Property," (2) the right and license to use said detention facility for the purpose of depositing, discharging and draining storm waters from the Land thereinto, and (3) the right of access thereto,said surface water drainage capacity, right of license and use, and right of access being sufficient to provide all capacity required, under all regulatory requirements in existence as of the date hereof and by all governmental entities having jurisdiction, for all commercial development to be constructed by Grantee on the Land. Grantee shall be, and is hereby, further authorized to erect, construct, reconstruct, maintain and repair ditches, pipes, valves, and other facilities or appurtenances, whether above ground or under ground, to connect into existing City-owned structures for conveyance into said Detention Property. The foregoing drainage capacity, rights and licenses shall run with the Land and, as such, shall exist in perpetuity to the benefit of Grantee and its successors and assigns. ' TO HAVE AND TO HOLD the Land and the foregoing drainage capacity, rights and licenses, together with all rights and appurtenances thereto in anywise belonging, subject to the foregoing terms, unto Grantee, its successors and assigns forever, and Grantor does hereby bind itself and its successors and assigns to warrant and forever defend the Land and the foregoing drainage capacity, rights and licenses, subject to the foregoing terms, unto Grantee, its successors and assigns against every person and entity whomsoever lawfully claiming or to claim the same or any part thereof. BUT IT IS EXPRESSLY AGREED AND STIPULATED THAT THE Vendor's Lien, including superior title, is retained against the Land in favor of Mortgagee, its successors and Page 2 of 4 assigns until the Note and all accrued interest thereon, and all renewals and/or extensions thereof, together with all interest thereon, are fully paid according to their face and tenor, effect and reading, and together with all additional sums which may become due and payable by the tertns of the Note and/or by the terms of the aforesaid Deed of Trust, when this Deed shall become absolute, and Grantor herein transfers unto Mortgagee, its successors and assigns the Vendor's Lien and superior title to the Land, in the same manner and to the same extent as if the Note had been payable to the order of Grantor and by said Grantor assigned to Mortgagee without recourse. Whenever used in this document, unless the context clearly indicates a contrary intent or unless otherwise specifically provided herein, the pronouns of any gender shall include the other genders, including the neuter, and either the singular or plural shall include the other. All ad valorem taxes and assessments on The Land have been prorated between the parties hereto as of the effective date of this Deed set forth below, and Grantee assumes liability for the payment thereof and for all subsequent years. EXECUTED THE DAY OF , 2007. CITY OF FRIENDSWOOD By: Name: �AV i� Sw�:-�(,t Title: �t{4�(02 ATTEST: Name: - Title: Page 3 of 4 THE STATE OF TEXAS /-�qRR�S COLTNTY OF �'"r�mo-rn�r � � This instrument was acknowledged before me on the �� day of �LLI'1 e , 2007 by �av i e� 5 m�t� , Mayor of and on behalf of City of Friendswood, a body corporate and politic, to be effective on the date as set forth above. � � . . � . LINDA K. PAARISH ' . �. , r�,y P,�u�,s�a Te,�. Notary ublic in and far the State of Texas � Mr camniseia,Expirea o319-zoo8 AFTER RECORDING RETURN TO: Page 4 of 4 EXHIBIT 'A' File No.: 994769-H045 (LKP) Property: 1301 West Parkwood Avenue, Friendswood,TX LOT ONE (1), BLOCK ONE (1), LAURENCE CLINE SUBDIVISION,A SUBSIVISION OF GALVESTON COUNTY,TEXAS,ACCORDING TO THE PLAT THEREOF 2004A/ 174 OF THE AS FILED IN OFFICIAL RECORDS OF REAL PROPERTY OF GALVESTON COUNTY,TEXAS A.P.N. 0 994769-H045 1 of 1 AFFIDAVIT Re: GF No. 994769 Seller: City of Friendswood Buyer: Heritage Erectors Development, Inc. There are currently no recorded or un-recorded leases on the following property: LOT ONE (1), BLOCK ONE (1), LAURENCE CLINE SUBDIVISION,A SUBSIVISION OF GALVESTON COUNTY,TEXAS,ACCORDING TO THE PLAT THEREOF 2004A/ 174 OF THE AS FILED IN OFFICIAL RECORDS OF REAL PROPERTY OF GALVESTON COUNTY,TEXAS CITY OF FRIENDSWOOD BY: avid Smith, Mayor STATE OF TEXAS COUNTY OF HARRIS � S WORN TO AND SUBSCRIBED BEFORE ME on this l l th day of June,2007,by DAVID SMITH, MAYOR of and on behalf of CITY OF FRIENDSWOOD, a body corporate and politic. . , PY V . ,• LII�DA K. PARRISH - raiary P„wic,si,�a Te,� Not ry Public - State of Texas r ' � "'�'�""�"��1&� Not rX's Printed am . , � a n �. �r�S My Commission Expires: o3-iy-ado� 1 STATE OF TEXAS COUNTY OF HARRIS This instrument was acknowledged before me on the l lth day of June, 2007, by DAVID SMITH, MAYOR of and on behalf of CITY OF FRIENDSWOOD, a body corporate and politic. . � Notary Public - State of Texas aY ,, Not ry's Printed Nam • . . IINDA K. PARRISH ,�;�,�Q ,� . �a,,-r�s� '"�' � ��T� M Commission Expires: �+r c«m,��s a�-�s��ooe Y _ d� -l�-�v� 2