2020-022 - Approving the Private Re-Sale of a Tract of Tax Foreclosed Property - Westgate apartments - LCAD 12932RESOLUTION NO. 2020-022
A RESOLUTION APPROVING THE PRIVATE RE -SALE OF A TRACT
OF TAX FORECLOSED PROPERTY, AND AUTHORIZING THE
MAYOR TO EXECUTE DEEDS
WHEREAS, numerous tracts of real property have previously been judicially foreclosed
upon for delinquent ad valorem taxes and bid off to the City of Paris as Trustee for itself, Lamar
County, Paris ISD and Paris Junior College (the "Trustee Properties"); and
WHEREAS, Texas Property Tax Code Section 34.05(i) provides that the Trustee
Properties may be sold by private sale in lieu of a public sale under Texas Property Tax Code
Section 34.05(c) & (d) with the approval of all taxing units entitled to receive proceeds from the
sale, being the City of Paris, Lamar County, Paris ISD and Paris Junior College; and
WHEREAS, a private offer to purchase one of the Trustee Properties has been received
by the City of Paris (the "Private Sale");
NOW, THEREFORE, BE IT RESOLVED AND ORDERED by the City Council of
Paris, Texas, that:
Section 1. The following offer to purchase the following tracts of real property, being
the highest bid received, is hereby accepted and the Private Sale is hereby approved:
RAIN FINANCIAL SERVICES, INC. offers to purchase that tract identified as
"Lamar CAD No. 12932, `MARTIN BLOCK ADDITION, BLOCK A, LOT I
THRU 20, NW 7TH', approximately 8.020 acres of real property located in Lamar
County, Texas, and more specifically identified in that Special Warranty Deed
filed with the Lamar County Clerk on January 31, 2011 as Instrument No.
085347-2011." for $75,000.00, per the terms specified in that PRIVATE OFFER
TO PURCHASE BID -OFF PROPERTY attached as Exhibit "A" [Ref.: Cause No.
87473, City of Paris vs. Propert Partners L LLC]
Section 2. That the City of Paris accepts that PRIVATE OFFER TO PURCHASE BID -
OFF PROPERTY, attached as Exhibit "A", and authorizes the City Manager to execute it on
behalf of the City of Paris.
Section 3. Subject to the Private Sale also being approved by Lamar County, Paris ISD
and Paris Junior College, and the receipt of the consideration offered by the Buyer(s), the Mayor
is hereby authorized to execute a tax deed conveying the Re -Sale Properties to the Purchaser or
designee. Any prior approval to re -sell this Trustee Property is hereby withdrawn.
Section 4. The proceeds of the Private Sale shall be distributed in accordance with the
Texas Property Tax Code and the orders of the District Courts of Lamar County, Texas.
Private Pro .roerty Tax Re -Sale Resolution,, Page 1 of 2
PASSED AND APPROVED this ,� , day of ,__. O)°C ,
2020.
CITY OF PARIS, TEXAS
BY
Ste*—p,waJ. Cliffor , , t.D., Mayor
ATTEST: APPROVED AS TO FORM:
BY 3IN�;�� BY
11'p' a Ellis, City Clerk lstipp"�Hnie H. Harris, City Attorney
Private Pro e v Tax Re -Sale Resolution, Page 2 of 2
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Lamar CAD No. 12932, "MARTIN BLOCK ADDITION, BLOCK A, LOT I THRU 2
A
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NW 7TW', approximately 8.020 acres of real property located in Lamar County, Te
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pwlal
Clerk on January 31, 2011 as Instrument No. 085347-2011.
4.
of the Property — the Buyer is responsible for determining the legal status of all real
and personal property being purchased, (3) Seller cannot guaranty if or when Buyer
may be able to acquire title insurance for this Property, and (4) Seller may not possess
keys or other access to the buildings and improvements on the Property and that
gaining access to these buildings and improvements shall be Buyer's responsibility.
e. Buyer is responsible for all of its own costs associated with this transaction, including
but not limited to the payment of commissions, legal fees, or other compensation
associated with conducting this transaction. ,
E Buyer may terminate this Offer until accepted by the City of Paris. As an inducement
to enter into this transaction, Buyer shall deposit IM00.00 (20%) as earnest money
with The Pounders Law Firm within 3 business days after submitting this offer to the
Seller, to be held in said law firm's IOLTA Trust Account. Should the City of Paris,
Lamar County, Paris ISD or Paris Junior College fail to approve this transaction, this
offer shall terminate and the deposit shall be promptly returned to the Buyer. Should
the sale be approved by all taxing units, the funds deposited shall immediately
become the property of the City of Paris, Lamar County, Paris ISD and Paris Junior
College to be distributed as required by the Texas Property Tax Code, and shall be
applied against the purchase price of the Property.
g. Buyer accepts responsibility for determining: (1) the condition of the Property and
improvements, (2) the existence, if any, of any hazardous conditions or the presence
of any toxic waste on the Property, and (3) any other fact or condition that might be
considered a detriment or other deterrent to Buyer taking possession of the Property.
Seller has made no representations to the Buyer about the Property, and Buyer is not
relying on any representation made by Seller, its officers, employees, agents or
lawyers prior to submitting this Offer to the Seller.
This offer is enforceable by specific performance. It shall be construed under the laws of
Texas. Venue shall be the state district courts of Lamar County, Texas.
RAIN FINANCIAL SERVICES, INC. THE CITY OF PARIS, TEXAS
By 1' B
Name:
• `• ____...._w....w. Grayson Path, City Manager
Date Date
202
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Page 2 of 2
2020
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