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Res 2351 6/19/1979r RESOLUTION NO. ,/57 RESOLUTION APPROVING OPTION AGREEMENT WITH DON OLIVER III FOR PURCHASE OF PARK LAND IN ALLENDALE HEIGHTS. WHEREAS, Don Oliver III , the developer of Allendale Heights , filed with the City a preliminary plat of such subdivision, which was formerly a part of Seymour Heights Addition; and, WHEREAS, the original developers of Seymour Heights were obligated to dedicate for park land 2. 3 acres of land under Resolution 395 which was applicable at the time the final plat of Seymour Heights was approved; however, Mr. Oliver took the position that the present subdivision ord- inance requires the City to purchase park land, and that he is not responsible to provide the 2.3 acres which the original developers of Seymour Heights were obligated to provide; and, WHEREAS, on April 23 , 1979, the Wichita Falls Planning Board conditionally approved the preliminary plat, subject to a determination of the controversy concerning the 2.3 acres park requirement; and, WHEREAS, the City staff and Mr. Oliver have reached a tentative agreement whereby, if the City exercises an option to purchase 2 acres for park land, Mr. Oliver will donate an additional 2. 3 acres free of cost to the City. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE CITY OF WICHITA FALLS, TEXAS, THAT: That certain option contract, a copy of which is attached hereto, between the City of Wichita Falls and Don Oliver III, is hereby approved, and the City Manager is authorized to execute the same for the City of Wichita Falls. PASSED AND APPROVED THIS / une, 1979. MAYOR ATTEST: a Y)2i11° izz City Clerk F7-7 5/31/79 ATI' OF TEXAS COUNTY OF WICHITA ) This agreement made and entered into this the 6 day of 1979, by and between the City of Wichita Falls, Texas, hereinafter called "City" , and Don Oliver III, hereinafter called Subdivider", WITNESSETH: WHEREAS, Resolution 395 was in effect at the time the first sections of Seymour Heights Addition were platted, which resolution required that the Subdivider dedicate certain park lands to the City of Wichita Falls; under this resolution, the Subdividers of Seymour Heights Addition were obligated to dedicate 2.3 acres of land for a park; and, WHEREAS, Ordinance 2118, the comprehensive subdivision ordinance of the City of Wichita Falls, now requires that all subdividers set aside land for park purposes when the master park plan of the City shows a park is required in the area to be subdivided; the ordinance provides that the City shall be granted an option to purchase the land to set aside for park purposes; and, WHEREAS, Subdivider has filed with the City a preliminary plat of Allendale Heights out of Block 2, League 2, Denton County School Land, A-57 and S. R. Ludolphus Subdivision, Block 12 (formerly Seymour Heights) dated March, 1979, and the parties desire to formalize the option which City has by virtue of the above ordinance for park land in the land covered by such preliminary plat. NOW, THEREFORE, for and in consideration of the premises and mutual covenants herein contained, and in compliance with such ordinance, the parties hereto do hereby agree as follows : Subdivider does hereby grant to City an option to purchase for park purposes two acres, and agrees to convey to City free of charge 2.3 acres of land for park purposes, the total of 4.3 acres being shown on such preliminary plat as "Reserved for Park" . City must exercise its option to purchase such land within thirty days after April 23, 1980, or thirty days after residences have been built on one-half of the lots on such preliminary plat, whichever date is later. Subdivider shall give written notice to City'.s Director of Planning stating the date on which residences have been completed on one-half of such lots . If City fails to exercise this option, the option shall terminate, and Subdivider shall not convey such 2.3 acres of land to City. Sub- divider may then proceed to develop the 4.3 acres of land in any way authorized by the subdivision ordinance, with no further requirement concerning park lands in the area covered by such preliminary plat insofar as Ordinance No. 2118 and Resolution No. 395 are concerned. To exercise this option, City shall give Subdivider notice in writing within such thirty day period, delivered by certified mail or by hand, stating the fact that it does exercise its option. If such notice is sent by certified mail, it shall be sufficient if the notice is actually deposited in the United States Mail within such thirty day period. If City does exercise its option, the purchase price to be paid by City to Subdivider for such two acres of land shall be the sum of o0. ast S Dollars cash. In addition, City shall pay its pro rata part of all devel- opment costs attributable to all such park land as may be required by City, including abutting streets and utilities necessary to serve such park land. If City does exercise its option, it shall budget the purchase price for such two acres in its budget for its next fiscal year beginning not less than thirty days after it exercises such option. Notwithstanding anything herein to the contrary, the purchase price shall not be payable until thirty days after the beginning of such fiscal year. When such budget has been approved, Subdivider shall furnish to City either a complete abstract of title to said property, or shall furnish a policy of title insurance. If abstract of title is furnished, City shall within ten days from receipt of the abstract, either accept the title or return the abstract to Subdivider with written objections to the title. If title objections are made, Subdivider shall have a reasonable time to cure such objections. When the title objections have been cured, or when the title company approves title, Subdivider shall deliver a general warranty deed conveying to City good and marketable title to the above described 4.3 acres of land, free and clear of all encumbrances, and City shall pay to Subdivider the purchase price for two acres. IN WITNESS WHEREOF, the parties hereto have caused this instrument to be executed as of the day and year first set out above. CITY OF WICHITA FALLS, TEXAS BY- Gerald G. Fox City Manager f= A L Don Oliver III STATE OF TEXAS COUNTY OF WICHITA ) BEFORE ME, the undersigned, a Notary Public in and for Wichita County, Texas, on this day personally appeared Gerald G. Fox, City Manager of the City of Wichita Falls, Texas, a municipal corporation, known to me to be the person and officer whose name is subscribed to the foregoing instrument and acknowledged to me that the same was the act of the said City of Wichita Falls, Texas, a municipal corporation, and that he executed the same as the act of said City of Wichita Falls, for the purposes and consideration therein expressed, and in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE, this the /2 day of 1)4Aw., , 1979. M Commission Expires :: e , /1 Martha;LitCecil las lift etc 41 Notary Public, Wichita County, Texas