ORDER NO. 19464
MOTION TO SUBMIT A CONTRACT FOR THE PURCHASE
OF PROPERTY AT 300 WATER STREET, KERRVILLE, TEXAS,
CREATING A NEW LINE ITEM, TO TRANSFER FUNDS, AHD
WRITE A HANDCHECK FOR 510,000.00 FOR EARNEST
MONEY CONTRACT
On this the 12th day of April 1990, upon motion made by
Commissioner Morgan, seconded by Commissioner Holekamp, with
Commissioner's Morgan, Holekamp and Ray voting "AYE", and
Judge Edwards voting "ABSTAINING", said motion to submit an
Earnest Money Contract for the purchase of property at 300
Water Street, Kerrville, Texas, create new Line Item No.
70-675-561, 300 Water St. , and to transfer 510, 000. 00 from
Line Item No. 70-675-560, Juvenile Detention and Bond Costs,
to Line Item No. 70-675-561, 300 Water St., was approved by a
majority vote.
The County Treasurer and the County Auditor are hereby
authorized to draw a voucher on Line Item No. 70-675-561, 300
Water St. and made payable to Kerr County Abstract for an
Earnest Money Contract for the purchase of property at 300
Water Street, Kerrville, Texas.
~l L_I
TEXAS ASSOCIATION OF REALTORS®
COMMERCIAL EARNEST MONEY CONTRACT
`T'HIS CONTRACT OF SALE is made by and between Church of Jesus Christ of the Latter Day Saints
hereafter referred to as "Seller" and Kerr County ,hereafter referred to as
"Buyer" upon the terms, provisions and conditions set forth herein.
1. PURCHASE AND SALE. Seller agrees to sell and convey to Buyer and Buyyer agrees to buy from Seller the following prop-
erty situated in Kerr _ County, Texas, known as 300 Water St.
(address).
2. PROPERTY. Lots 249 , 250, 251 ,Block 46 Schreiner Addition, City of
Kerrville , or as described on attached Exhibit "A", together with all and singular the rights and
appurtenances pertaining to the property, including any right, title, and interest of Seller in and to adjacent streets, alleys or rights
of way. All of such real property, rights, and appurtenances being hereinafter referred to as the "Property", together with any
improvements, fixtures, and personal property situated on and attached to the Property, including but not limited to the following:
3. CONTRACT SALES PRICE.
A. Cash down payment payable at closing (including earnest money) .................... $ 35 , 000.00
B. Sum of all notes described in Paragraph 4 below ........................................ $ i nn,nnn_ nn
C. Other ........................................................................................... $ - -
D. Sales Price (Sum of A, B, and C)...i ........................................................ $ ~
4. FINANCING CONDITIfONS.
A. ASSUMPTION: Buyer shall assume the unpaid balance of that promissory note payable to
dated , 19 - .Buyer shall
pay the installment payment due after the date of closing. The assumed principal balance at closing will be $
allowing for an agreed $ variance. The cash payable at closing shall be adjusted for the amount of such variance.
Buyer shall apply for assumption approval, if necessary or required, within days from the effective date of this contract
and shall make every reasonable effort to obtain the same. If the variance exceeds $ or the existing interest rate is
increased above % or Buyer is required to pay an assumption fee in excess of $ , or assumption approval
cannot be obtained within days from the effective date hereof, this contract may be terminated at Buyer's option and
the Earnest Money shall be refunded to Buyer without delay.
B. THIRD PARTY FINANCING: This contract is subject to approval of a loan for Buyer by a third party in the amount of
$ payable at intervals for not less than years within the initial interest rate not to
exceed % per annum, and with each principal and interest installment not to exceed $ [ ]including
interest [ ]plus interest, for the first years of the loan. Buyer shall apply for the loan within days from
the effective date of this contract and shall make every reasonable effort to obtain approval. If the loan has not been approved
within days from the effective date hereof, this contract shall terminate and the Earnest Money shall be refunded to
Buyer without delay.
C. SELLER FINANCING: Buyer ,shall execute a promissory note or notes to Seller in the principal sum of
$ 100.000.00 , bearingelght (8) % interest per annum, and payable: (Check 1, 2 or 3 below)
[X] 1. In one payment due ~n October 15. 1990 with interest payable
at 8o per annum
[ ] 2. Installments of $ [ ]including interest [ ]plus interest beginning
after the date of the note and continuing at intervals thereafter for years when the
entire balance of the note shall be due and payable.
[ ] 3. Interest only in installments for the first years and thereafter in installments
of $ [ ' ]including interest [ ]plus interest beginning intervals
thereafter for years when the entire balance of the note is due and payable.
D. OTHER FINANCING:
Any Seller financed note may be prepaid in whole or in part at any time without penalty. The lien securing payment of such. note
6. PROPERTY CONDITION/INVESTIGATION.
[ ) A. Buyer accepts the Property in "as is" condition.
[ X] B. Buyer accepts the Property subject to the [ X] Property Condition and/or [}{] Investigation Addendums attached
hereto.
7. SURVEY AND TITLE BINDER.
A. Survey
[ ] 1. No survey is required.
[ ] 2. Seller shall furnish to Buyer within ten (10) days from the elI'ective date of this contract, Seller's existing survey of the
Property dated , 19 - .
[ X] 3. Within 21 days after the date of this contract, Seller shall, [X) at Seller's expense:[ ] at Buyer's
expense, deliver or cause to be delivered to Buyer and Title Company a copy of acurrent-on-the-ground survey
("Survey") of the Property made by a duly licensed surveyer reasonably acceptable to Buyer and in a form acceptable
to Buyer and the Title Company issuing the title commitment and Owner's Policy of Title Insurance required herein.
If the survey exception (except as to shortages in area) is to be deleted herein, the additional expense for such deletion
shall be paid by GPl 1 Pr .The Survey shall show acreage or square feet, access to the property, the
location of all improvements, rights of way,` easements, encroachments, streets, roads, water courses, or fences on or
adjacent to the Property, if any.
[ ] i.) If the price of the Property, pursuant to Paragraph 3, is based upon price per acre, then the Survey shall reflect
the total acreage.
[ ] ii.) If the price of the property, pursuant to Paragraph 3, is based upon price per square foot, then the Survey shall
reflect the total square footage.
B. Within 14 days after the date of, this contract, Seller shall, at Seller's expense, deliver or cause to be
delivered to Buyer:
(1) A title commitment ("Title Binder") covering the Property binding the Title Company to issue a Texas Owner's Policy of
Title Insurance on the standard form of policy prescribed by the Texas State Board of Insurance at the closing in the full
amount of the purchase price; and
(2) True, correct, and legible copies of,any and all instruments referred to in the Title Binder as constituting exceptions or
restrictions upon the title of Seller, if requested by Buyer in writing within ~ days of receipt of the title
commitment.
(3) A U.C.C. lien search, if applicable. .
8. APPROVAL PERIOD AND TITLE.
A. Buyer shall have - 7 days after the receipt of both the Survey and Title Binder to review same and to deliver
in writing to Seller such objections as Buyer may have to anything contained therein. Any such item to which Buyer shall not
object shall be deemed to be accepted by Buyer. If there, are objections by Buyer, Seller shall in good faith attempt to satisfy same
prior to closing, but Seller shall not be required to incur any cost to do so. If title objections are disclosed, Seller shall have .~~
days to cure same. If Seller delivers written notice to Buyer on or before closing date that Seller is unable to satisfy such objections,
or if, for any reason, Seller is unable to convey title in accordance with Section 8(B) below, Buyer may either waive such objections
and accept such title as Seller is able to convey or terminate this contract by written notice to Seller and Earnest Money shall be
refunded with no Broker's fee due. Zoning ordinances and a lien for current taxes shall not be valid objections to title.
B. Seller represents and warrants to Buyer that at the closing Seller will have and will convey to Buyer good and marketable
title by General Warranty Deed subject only to liens securing debt created, assumed or taken subject to as part of the consideration,
taxes for the current year, and any other reservations, easements, discrepancies in boundries, encroachments, restrictions or
exceptions previously approved by Buyer in accordance with Paragraph 8.A. Delivery of the Title Policy pursuant to Section 10
below shall tie deemed to fulfill all duties~of Seller as to the sufficiency of title required hereunder; provided however, Seller shall
not thereby be released from the warranties of Seller's Deed.
9. NOTICE TO BUYER. At the time of the execution of this contract, Broker has advised and hereby advises Buyer, by this
writing, that Buyer should be furnished with or obtain a policy of title insurance or if an abstract covering the Property is provided
in lieu thereof, Buyer should have said abstract examined by an attorney of Buyer's own selection.
10. CLOSING.
A. The closing of the sale (the Closing Date} shall be on or before , 19 - .
B. At the closing, Seller shall deliver to Buyer: (i) a General Warranty Deed (with Vendor's Lien retained if not a cash
purchase) conveying the Property, subject only to liens securing debt created, assumed or existing as part of the consideration, taxes
for the current year, and any other reservations or exceptions previousl}~ approved by Buyer in accordance with Paragraph 8.A.; (ii)
An Owner's Policy of Title Insurance (the "Title Policy") issued by - Stewart Title in full amount
of the Sales Price, dated as of closing, insuring Buyer's fee simple title to the Property to be good and indefeasible subject only to
those title exceptions permitted herein, or as may be approved by Buyer in writing, and the standard printed exceptions contained
in the usual form of the Title Policy, provided, however: (a) the exception as to area and boundaries shall be in accordance with
Paragraph 7.A.3.; (b) the exception as to restrictive covenants shall be endorsed "None of Record", or, if of record, restrictive
covenants shall be referenced by appropriate recording information; (c) the exception as to taxes shall be limited to taxes for the
current year and subsequent years, and subsequent assessments for prior years due to changes in land usage or ownership; and (iii)
possession of the property.
any di(Terence in ad valorem taxes For the year of sale actually paid by Buyer shall be adjusted between the parties upon receipt of
written evidence of the payment thereof. If Seller has claimed the benefit of laws permitting a special use valuation for the purposes
of payment of ad valorem taxes on the property, the Seller represents that he was legally entitled to claim such benefits. If this sale
or Buyer's use of the property after closing results in the assessment of additional taxes for prior years, such additional taxes shall be
the obligation of the Buyer and such obligation shall survive closing.
F. If Buyer is to assume an existing loan, Buyer shall pay any transfer fee as provided in Paragraph 4. Buyer shall execute, at
the option and expense of Seller, a Deed of Trust to Secure Assumption with a Trustee named by Seller.
G. If the Property is situated within a utility district subject to the provisions of Section 50.301, Texas Water Code, then at or
prior to the closing, Seller agrees to give Buyer the written notice required by said Section and Buyer agrees to sign and
acknowledge the notice to evidence receipt thereof.
l I. ESTOPPEL CER'CIh'ICATE BY TENANTS. Seller shall deliver to Buyer an "estoppel certificate" signed by each tenant
leasing space in the property as of the date of closing stating { I) that no default exists under the terms of the lease agreement by
either Lessor or Lessee; (2) the amount of any rental payments made in advance, if any; (3) the amount of any security deposits
made, if any; (4) tlic amount of any offsets against rent, if any; and (S) that the tenant has no defenses against the payment of rent
accruing under the terms of his lease agreement. Seller shall, at closing, tender to Buyer the amount of any security deposits and
advance rental payments received. if any tenants present claims for offsets against rent or defenses against the payment of rent
which are unacceptable to Buyer, Buyer shall so notify Seller in writing. Seller shall promptly undertake to eliminate or modify
such unacceptable offsets or defenses. In the event Seller is unable to do so within days after receipt of written
notice. Buyer may terminate this agreement and Earnest Money shall be refunded with no Broker's fee due. Seller shall deliver to
Buyer all existing leases and service and/or warranty contracts applicable to the premises within of this contract.
Buyer shall have days from receipt of those contracts to disapprove of same in writing to Seller, and Buyer may
terminate this agreement and Earnest Money shall be refunded with na Broker's fee due. At closing the cost of any service and/or
warranty contracts shall be prorated.
12. BROKER'S SEES:
[X] A Franciscan Trace Brokerage Co. Listing Broker (~~ (30) ~) and
Meek & As~c-i a RP 1 F~ a _ Co-Broker (thrPP (3°) %) as Real Estate Broker
(the Broker) has negotiated this sale and Seller agrees to pay Broker in K _rr County, Texas, on
consummation of this sale a total cash fee of $ $,100.00 or six (6) '% of the total Sales Price or
as per separate written agreement, which Escrow Agent shall pay from the sale proceeds.
[ ] B. Seller agrees to pay Listing Broker the fee specified by separate agreement between Listing Broker and Seller. Escrow
Agent is authorized and directed to pay Listing Broker said fee from the sale proceeds.
13. CASUALTY LOSS. If, prior to Closing, any part of Property is damaged or destroyed by fire or other casualty loss. Seller shall
restore tl~e same to its previous condition as soon as reasonably possible, but in any event by Closing Date; and if Seller is unable to
do so without fault, this contract shall terminate and Earnest Money shall be refunded with no Broker's fee due.
14. DEFAULT. If Buyer fails to comply herewith, Seller may either enforce specific performance or terminate this contract and
receive the Earnest Money as liquidated damages, one-half of which (but not exceeding the Broker's fee recited in Section 12) shall
be paid by Seller to Broker in full payment for Broker's services. If Seller is unable without fault to deliver Title Policy or to make
any non-casualty repairs required herein within the time herein specified, Buyer may either terminate this contract and receive the
Earnest Money as the sole remedy, and no Broker's fee shall be earned, or extend the time up to days. If Seller fails to
comply herewith for any other reason, Buyer may (i) terminate this contract and receive the Earnest Money, thereby releasing
Seller from this contract (ii) enforce specific performance hereof and/or (iii) seek such other relief as may be provided by law. If
completion of sale is prevented by Buyer's default, and Seller elects to enforce specific performance, the Broker's fee is payable only
if and when Seller collects damages for such default by suit, compromise, settlement or otherwise, and after first deducting the
expenses of collection, and then only in amount equal to one-half of that portion collected, but not exceeding the amount of
Broker's fee.
1 S. CONDEMNATION. If any part of the Property is condemned prior to Closing Date, Seller shall promptly give Buyer written
notice of such condemnation and Buyer shall have the option of either applying the proceeds on a pro rata basis of any
condemnation award to reduce the Sales Price provided herein or declare this Contract terminated by delivering written notice of
termination to Seller and Earnest Money shall be refunded to Buyer with no Broker's fee due.
16. ATTORNEY'S FEES. Any signatory to this contract who is the prevailing party in any legal proceeding against any other
signatory brought under or with relation to this contract or transaction shall be additionally entitled to recover court costs and
reasonable attorney fees, and all other litigation expenses, including deposition costs, travel, and expert witness fees, from the non-
prevailing party.
17. REPRESENTATIONS. In addition to other representations made herein, Seller represents that unless securing payment of
the Note, there will be no Title I liens, unrecorded liens or Uniform Commercial Code liens except those specified in paragraph 26
against any of the Property on Closing Date, that loan(s) will be without default, and reserve deposits will not be deficient. If any
representation above is untrue this contract may be terminated by Buyer and the Earnest Money shall be refunded without delay.
Representations shall survive closing.
18. NOTICES. Any notice or communication required or permitted hereunder shall be deemed to be delivered, whether actually
received or not, when deposited in the United States mail, postage fully prepaid, registered or certified mail, and addressed to the
intended recipient at the address on the signature page of this contract. Any address for notice may be changed by written notice
,aoi:.,o..o,~ .,~ .-,..,..,:ava ~~o..o:..
23. TEXAS LAW TO APPLY. This agreement shall be construed under and in accordance with the laws of the State or Texas,
and alt obligations of the parties created hereunder are performable in Kerr County, Texas.
24. LEGAL CONSTRUCTION. In case any one or more of the provisions contained in this contract shall for any reason be held
to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other
provision hereof and this contract shall be construed as if such invalid, illegal, or unenforceable provision had never been
contained herein.
25. TIME. Time is of the essence.
26. SPECIAL PROVISIONS. (This section to include additional factual data relevant to the sale which may include addendums.)
1. Seller will satisfy Buyer that there will be no leases at the time of closing
on the building or parking lot.
2. The attached Property Condition Addendum and attached Investigation/Feasibility
Study Addenduun of even date herewith are a part of this Commercial Earnest Money
Contract.
3. All fixtures and personal property located on this property, this date, are
included in this sale and will remain.
27. CONSULT YOUR ATTORNEY. This is intended to be a legally binding contract. This contract constitutes the entire
agreement between the parties and their real estate agents, there being no oral agreements, representations, conditions, or
warranties, express or implied, in addition to this contract.
28. PRINCIPAL DISCLOSURE.
[ ]The Buyer of this property is a licensed real estate agent and is acting as a principal in this transaction.
[ ]The Seller of this property is a licensed real estate agent and is acting as a principal in this transaction.
EXECUTED by Seller on this the day of , 19
BROKE]tS SELLER
Franciscan Trace Brokerage Co. Church of Jesus Christ of Latter Day Saints
LISTING BROKER LICENSE NO. By:
By:
Title
Address ~~ American Southwestern Of~'elephone
61 East ~~le St.
Salt Lake City, Utah 84150-001
~- da of ~ r1 t° ~ ~ ~
EXECUTED by Buyer on this the ~ y .-__T- , 19 .~ .
> ./
- - ~. ~A ; ~ (~~
By:
Meek & Associates Real Esta e 369058-08
CO-BROKER
LICENSE NO.
BUYER
e r Count
Title Kerr County Judge
Address Telephone
PROPERTY CONDITION ADDENDUM
PROPERTY CONDITION (CHECK "A" OR "B")
[ ] A. Buyer accepts the Property in its present condition, subject only to
[ X ] B. Buyer requires inspections and repairs as follows:
Check Applicable Boxes:
[ X ] i. Termites: Seller, at Seller's expense, shall furnish to Buyer at or prior to closing a written report by a Structural Pest
Control Business Licensee, dated within 30 days before Closing Date and stating that there is no visible evidence of
active termites or visible damage to the improvements from the same in need of repair. Such report shall not cover
fences, trees and shrubs.
[ X] ii. Condition of Property.
Buyer shall have the right at Buyer's expense (i) within 14 days from the date of this contract to have any of
the STRUCTURAL items indicated below, and (ii) within _ 14 days from the date of this contract to have any
of the EQUIPMENT AND SYSTEMS items indicated below, inspected by inspectors of Buyer's choice and to give Seller
within such time periods a written report of required repairs to any of the items checked below which are not performing
the function for which intended or which are in need of immediate repair. Failure to do so shall be deemed a waiver of
Buyer's inspection and repair rights and Buyer agrees to accept Property in its present condition.
ITEMS THAT BUYER MAY REQUIRE TO BE INSPECTED (check applicable boxes):
STRUCTURAL:
[ X] foundation, [ X] roof, [ X ] load bearing walls, [ X ] floors, [ X ] ceilings, [ X] basement, [ X ] water penetration, and
EQUIPMENT AND SYSTEMS:
[ ~ plumbing system (including any water heaters), [X] central heating and air conditioning, [ X) electrical system,
[ X] heating and cooling units in the walls, floors, ceilings, roof or windows, [X] any built in appliances, [ ] swim-
ming pools and related mechanical equipment, [ ]sprinkler systems, and
Repairs required by inspections and reports shall be at Seller's expense.
[ ] iii. Seller shall make the following repairs in addition to those required above:
All inspections shall be by trained and qualified persons who regularly provide such service and all repairs shall be by
trained and qualified persons who are, whenever possible, manufacturer-approved service persons or are licensed or
bonded whenever such license or bond is required by law. For these purposes and for re-inspections after repairs have
been completed. Seller shall permit access to the Property at any reasonable time.
[ X] iv. Where gas supplier, regulations or ordinances require inspection on transfer of gas service, Seller consents to transfer of
gas service to Buyer's name within 7 days prior to closing. Seller shall arrange and pay at closing for any repairs necessary
if gas leak is discovered. Buyer's failure to request such transfer in time to complete the inspection prior to closing shall
release the Seller of liability for repair of gas leaks.
Upon Seller's receipt of all loan approvals and inspection reports Seller shall commence and complete prior to closing all required
repairs at Seller's expense. All inspections, reports and repairs required of Seller by this contract shall not exceed
$ 5.000.00 . If Seller fails to complete such requirements, Buyer may do so and Seller shall be liable up to the
amount specified and the same paid from the proceeds of the sale. If such expenditures exceed the stated amount and Seller refuses
to pay such excess, Buyer may pay the additional cost or accept the Property with the limited repairs and this sale shall be closed as
scheduled, or Buyer may terminate this contract and the Earnest Money shall be refunded to Buyer. Broker and sales associates
have no responsibil' or liability for repair or replacement of any of the Property.
Buyer K r County Seller Church of Jesus Christ of Latter Day
Saints
Buyer
Seller
Date Date
INVESTIGATION1FEASIBILITY STUDY ADDENDUM
INVESTIGATION/FEASIBILITY STUDY. Buyer is granted the right to conduct an investigation and/or feasibility study of the
Property as follows:
(X ] market or economic feasibility study
[X ] engineering study
[X J inspection of zoning, subdividing, or other use restrictions affecting the Property
[X J availability of utilities, including electricity, gas, water and wastewater treatment
[ ] inspection of soil and subsoil condition
[ J other
Buyer shall have 30 days from the effective date hereof to perform such investigation and/or study. Buyer or
Buyer's agents shall have the right of access to the Property prior to closing for the purpose of conducting such investigation and/or
study, and shall have the right to conduct tests and obtain core samples. Seller agrees to cooperate with Buyer in connection with
the investigation and/or study, agrees to furnish Buyer with copies of any and all documents relating to the Property that might be
necessary to complete such investigation and/or study, and agrees to execute any and all documents that might be required in order
to obtain any necessary governmental authority or consent with respect to the above-described matters. If Buyer determines, in
Buyer's sole judgment and discretion, that the Property is not suitable for Buyer's intended use, within the 30 days,
Buyer shall give Seller written notice of such fact on or before the end of the period stated above with a copy to Escrow Agent.
Upon receipt of such written notice, the Escrow Agent shall refund the Earnest Money to Buyer, and both parties shall be released
from all further obligations under this Contract. If Buyer does not send such written notice to Seller, then it shall be presumed that
the Property is suitable for Buyer's intended use, and the Contract may not be terminated by Buyer for the reasons set forth in this
Section. In the event this contract does not close, through no fault of Seller, Buyer shall restore the Property to its original
condi ' n, if changed d to the investigation and/or study performed by Buyer.
a~~
Buyer Ke County Se1lerChurch of Jesus Christ of Latter Day
Saints
Buyer
Seller
Date Date
COMMISSION RS' COURT ACFN~A REQUEST
~ L'LEASE FURNISH ON ORIGINAL AND SFVFN ['ppl OF THIS RFC~UF~T e~~n nnri m~Gr.rr
1U DC REVI -W -D DY 11 I - pI~RT
MADE BY: - Bill Ray OFF ICE: County Commisioner Precinct 2
MEETING DATE: April 9, 1990
TIME PREFERRED:
EXECUTIVE SESSION:
SUBJECT: (PLEASE BE SPECIFIC): Legal -Purchase of Office space
ESTIMATED LENGTH OF PRESENTATION:
IF PERSONNEL MATTER -NAME OF EMPLOYEE:
NAME OF PERSON ADDRESSING THE COURT: County Commissioner, Precinct 2
Time for submitting this request for Court to assure that the matter !s posted In
accordance with Article 6252- 17 Is as fol lows:
• Meetings held on second Monday: 12:00 P. M. previous Wednesday
• Meetings held on Thursdays: 5:00 P. M. previous Thursday.
If preferable, Agenda Requests may be made on office stationery with the above
Information attached.
THIS REQUEST RECEIVED BY: LR
7H IS REQUEST RECE IVE D ON: 4-6-90
@ 1:50 g,,m.
AI I Agenda Requests wl I I be screened by the County Judge's Uf f !ce to determine If
adequate Information has been prepared for the Court's formal consideration and action at
time of Court meetings. Your cooperation will be appreciated and contribute towards
your request being addressed at the earliest opportunity.