The URL can be used to link to this page

Home My WebLink AboutR82-08 02-22-82 RESOLUTION NO. R82-8 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS, AUTHORIZING THE MAYOR TO EXECUTE AN AGREEMENT BY AND BETWEEN THE CITY OF PEARLAND AND JOHN W. ABBOTT, TRUSTEE. BE IT RESOLVED by the City Council of the City of Pear- land, Texas, that the Mayor be, and he is hereby authorized to execute for and in behalf of the City, an Agreement by and be- tween the City of Pearland and John W. Abbott, Trustee, relating to water and sewer line extensions. PASSED and APPROVED this ~ day of ~3~_~ -, A. D., 1982. CITY OF PEARLAND, TEXA~ Mayor ATTEST: City Secreta ORIGINAL LETTER OF CREDIT IN THE C. D. FILE - TREASURER'S OFFICE • THE STATE OF TEXAS S COUNTY OF BRAZORIA S This Agreement, by and between the CITY OF PEARLAND, a body politic and corporate ("Pearland"), and JOHN W. ABBOTT, TRUSTEE, a resident of Harris County, Texas ("Abbott"). WHEREAS, Abbott owns the 67.88 acre tract out of the H.T.&B. Railroad Company Survey, Abstract 241, in Brazoria County, Texas, more particularly described by metes and bounds on Exhibit "A" hereunto attached and made a part hereof for all purposes, and WHEREAS, Pearland proposes to annex such tract and other property, and WHEREAS, as a condition to such annexation, Abbott has agreed to extend waterlines and sewer service furnished by Pearland from the intersection of CR 555 and FM 518 to such tract at a cost estimated to be $135,000.00 within two (2) years after such annexation has taken place, NOW THEREFORE, it is hereby agreed by and between the parties that in order t ia• ensure Pearland that Abbott will have the wherewithal to extend such utilities ,s, Abbot has this day tendered to Pearland a two (2) year letter of credit issued by ALLIED BAN OF TEXAS, copy of which is attached hereto as Exhibit "B", in the sum of $135,000.00, the condition being that upon the extension of such water and sewer lines, such letter o credit will be returned to Abbott. Should the tract be sold by Abbott prior to the extension of such utilities, upon the purchaser tendering to Pearland a letter of credit in a like sum, conditioned as Exhibit "B", Pearland will return the letter of credit hereby tendered, to Abbott. February WHEREOF, WITNESS the hands of the parties this 22 day of DRs ember, A.D., 1982 )192 ATTEST: CITY OF PEARLAND City Mayor Ma or 9-&A J�/ N W. ABBOTT, TRUSTEE C""gJ (•*"t A 67.88 acre tract being a portion of an 80 acre tract being the east 1/2 of the northeast 1/4 of Section 15, H. T. & B. Railroad Company Survey, Abstract 241, Brazoria County, Texas. Said 67.88 acre tract being described as follows: Beginning at the northeast corner of Section 15, H. T. & B. Railroad Company Survey, Abstract 241, Brazoria County, Texas. THENCE South along the east line of Section 15, at 34.40 feet pass the center line of FM Road 518, at 84.40 feet to a point in the south right-of-way line of FM Road 518, from which point an iron rod bears west 31.50 feet, continue along the the center line of County Road 103, a total distance of 2040 feet; THENCE West along the north line of a 12.12 acre tract, at 30.00 feet pass an iron rod in the west right-of-way line of County Road 103, a total distance of 880.00 feet to an iron rod on the northwest corner of said 12.12.acre tract; THENCE South along the west line of said 12.12 acre tract a distance of 600.00 feet to an iron rod on the southwest corner of said 12.12 acre tract; . THENCE West along the south line of 67.88 acre tract 440. feet to the southwest corner of said 67.88 acre tract; THENCE North along the center line of a drainage ditch, also the west line of said 67.88 acre tract, at 2553.40 feet a point in the south right-of-way line of FM Road 518 from which point an iron rod bears east 25.00 feet, continue along the west line of said 67.88 acre tract a total distance of 2640.00 feet to a point for corner in the north line of said Section 15; THENCE East along the north line of said Section 15, 1320.00 feet to the place of beginning. • EXHIBIT "Aar uFFICE OF THE CITY SECRETAR-- CITY OF PEARLAND, TEXAS TO: DATE: At the meeting of the City Council of the City of Pearland, Texas, the following matter was referred to you for appropriate disposal or for specific action as indicated: • 1 =• Documents attached: City Secretary. Suspense date (s) : • SAMPLE EXHIBIT "B" SAMPLE • :K ofIRREVOCABLE INTERNATIONAL DEPARTMENT t`r+ 1 � • � � ; �iti COMMERCIAL P.O. BOX 3326 • HOUSTON,TEXAS 77001 CREDIT CABLE ADDRESS:ALBANK TEX HOU—TELEX NO.762150 CITY OF PEARLAND NO. • UP TO U$5135,00b.00 • DEAR SIRS: WE HEREBY OPEN OUR IRREVOCABLE LETTER OF CREDIT IN YOUR FAVOR FOR THE ACCOUNT OF: - John W. Abbol t,Trustee, Houston, Texas. FOR A SUM OR SUMS NOT EXCEEDING IN THE AGGREGATE THE SUM OF_ U.S. DOLLARS ONE HUNDRED THIRTY FIVE THOUSAND AND.NO/100. - - AVAILABLE BY YOUR DRAFTS DRAWN ON __ Ourselves - • AT _ Sight -----_ TO BE ACCOMPANIED BY: - Your Signed Statement, that as of two years from date, property on attached exhibit '"A" was annexed by the City of Pearland, water lines and sewer service provided by Pearland from the intersection of County Road 555 and FM 518 to such tract at a cost estimated to. be $135,000.00 have not been completed. • • PRESENTED AT THIS OFFICE DRAFTS MUST BE DRAWN ANDARC2SZTtheRS2 NOT LATER THAN- - - - TWO YEARS . EACH DRAFT MUST BE MARKED"DRAWN UNDER LETTER OF CREDIT NO. OF THE ALLIED BANK OF TEXAS, HOUSTON, DATED AND THE AMOUNT OF EACH DRAFT SO DRAWN ENDORSED BY THE NEGOTIATING BANK ON THE REVERSE SIDE HEREOF.WHEN PRESENTED BY THE MAKER DIRECT TO THE DRAWEE BANK,THE DRAFTS MUST BE ACCOMPANIED BY THIS LETTER OF CREDIT FOR THE PURPOSE OF SUCH ENDORSEMENTS BEING MADE THEREON. WE HEREBY AGREE WITH THE DRAWERS, ENDORSERS AND BONA FIDE HOLDERS OF DRAFTS DRAWN UNDER AND IN COMPLIANCE WITH THIS CREDIT THAT SAME SHALL BE DULY HONORED UPON PRESENTATION TO THE DRAWEE BANK AS SPECIFIED ABOVE. SINCERELY. ALLIED BANK OF TEXAS THIS CREDIT IS SUBJECT TO THE 'UNIFORM" CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS (1974 REVISION). INTERNATIONAL CHAM- BER OF COMMERCE BROCHURE NO.290. F ' • EXHIBIT "A" A 67. 88 acre tract being a portion of an 80 acre tract being the east 1/2 of the northwest 1/4 of Section 15 , H. T. &B. Railroad Company Survey , Abstract 241, Brazoria County, Texas. Said 67 . 881 acre tract being described as follows : Beginning at. the northeast corner of Section 15 , H.T. &B. Railroad Company Survey, Abstract 241, Brazoria County, Texas . ,J I THENCE South along the east line of Section 15, at 34. 40 feet pass the center line of FM Road 518 , at 84. 40 feet to a point in the- south right-of-way line of FM Road 518 , from which point an iron rod bears west 31. 50 feet, continue along the center line of County Road 103, a total distance of 1320. 00 feet; THENCE West along the north line of a 12 . 12 acre tract, at 30. 00 feet pass an iron rod in the west right-of-way line of County Road 103, a total distance of 880. 00 feet to an iron rod on the northwest corner of said 12. 12 acre tract; THENCE South along the west line of said 12. 12 acre tract a distance of 600. 00 feet to an iron rod on the southwest corner of said 12. 12 acre tract; THENCE East along the' south line of said 12. 12 acre tract at 850. 00 feet pass an iron rod in the west right-of-way line of County Road 103, a total distance of 880. 00 feet to a point for corner in the center line of County Road 103; THENCE South along the center line of County Road 103, 720. 00 feet to a point for corner in the southeast corner of said 67. 88 acre tract; • THENCE West along the south line of 67. 88 acre tract at ' 28. 00 feet pass an iron rod in the west line of County Road 103 , • at 1285. 00 feet pass an iron rod a total distance of 1320. 00 feet to the southwest corner of said 67. 88 acre tract; THENCE North along the center line of a .drainage ditch, also the --west line of the said 67. 88 acre tract, at 2553. 40 feet to a point in the south right-of-way line of FM Road 518 from ! which point an iron rod bears east 25. 00 feet, continue along the west line of said 67. 88 acre tract a total distance of 2640. 00 feet to a point for corner in the north line of said Section 15; THENCE East along the north line of said Section 15, 1320. 00 feet to the place of beginning. . I -' The above described tract contains 67. 88 acres of land, --.-__.- __-more or- less-, :of which- 2-. 59 --acres-- lies in the right-of-way of FM Road 518 and 1. 30 acres lies in the right-of-way line of County Road 103. • • • • ' i A 67.88 acre tract being a portion of an 80 acre tract being the east 1/2 of the northeast 1/4 of Section 15, H. T. & B. Railroad Company Survey, Abstract 241, Brazoria County, Texas. Said 67.88 acre tract being described as follows: Beginning at the northeast corner of Section 15, H. T. & B. Railroad Company Survey, Abstract 241, Brazoria County, Texas. THENCE South along the east .line of Section 15, at 34.40 feet pass t e center line of FM Road 518, at 84.40 feet to a point in the south right-of-w y line of FM Road 518, from which point an iron rod bears west 31.50 feet, continue along the the center line of County Road 103, a total distance bf 2040 feet; _ THENCE West along the north line of a 12.12 acre tract, at 30.00 feet pa s an iron rod in the west right-of-way line of County Road 103, a total distan e of 880.00 feet to an iron rod on the northwest corner of said 12.12 acre trac ; THENCE South along the west line of said 12.12 acre tract a distance f 600.00 feet to an iron rod on the southwest corner of said 12.12 acre tract; THENCE West along the south line of 67.88 acre tract 440 feet to t e southwest corner of said 67.88 acre tract; THENCE North along the center line of a drainage ditch, also the west line f said 67.88 acre tract, at 2553.40 feet a point in the south right-of-way line df FM Road 518 from which point an iron rod bears east 25.00 feet, eontinuee along the west line of said 67.88 acre tract a total distance of 2640.00 feet t a point for corner in the north line of said Section 15; THENCE East along the north line of said Section 15, 1320.00 feet to th place of beginning. EXHIBIT "Al9 ADDENDUM TO AGREEMENT DATED FEBRUARY 22nd , 1982, BY AND BETWEEN THE CITY OF PEARLAND AND JOHN W. ABBOTT, TRUSTEE: It is understood and agreed by and between the parties hereto that John W. Abbott, Trustee shall be solely responsible for the total cost of providing water and sewer services to the property described in Exhibit "B" and the cost of improvements are in no respect limited to the amount set forth in the letter of credit issued by Allied Bank of Texas„ attached to the original agreement as Exhibit "B". CITY OF PEARLAND. BY: Mayor ATTEST: City Secretar �.. (ts / e . ihn W. Abbott, Trustee ..........:_.. _..:.....u.-...,_�...�..............sm .e,..- «..-..-..�.- ... :....,. ' r...;L.. }... M w;'#..4 „-a.._,.. . :'r ,..r, . ' , ---)5.,,,,,,,,,e_,(0_,,i,e- , i--/.4 2.,,,,,_,_,6 — ,e -,___ (_%,' ,/,j 2...r,, Alliea. - I IRREVOCABLE 'INTERNATIONAL DEPARTMENT --- d Bank of TexasI co m MERCIAL 1 P.O. BOX 3326 • HOUSTON,TEXr1/4S 77001 CREDIT CABLE ADDRESS:ALBANK TEX HOU-TELEX NO.762150 Cial -DP ,.-TlirtVzi-1-1,111'.. February 7,3, 1932, I . 237 N. Texas- AT. - ts , Pegr.s.t.z,,Q, ze.,?.,.',..x.,1 171;:1 . NO. 921p- UP TO . . • _ DEAR SIRS: • .- , WE HEREBY OPEN OUR IRREVOCABLE LETTER OF CREDIT IN YOUR FAVOR FOR THE ACCOUNT OF: ON W.., APTYZ•i-, 7,„ • 4„IVISM,1,, P/Os -04 r•TE.(7trl S,:,............. . . .........o- ,_ ...ftwauntaseo*.,evagaocrinaws.............4..........oc...........0...lat.....M.Kosekeaarn - FOR A SUM OR SUMS NOT EXCEEDING IN THE AGGREGATE THE SUM OF ti.;.-.4. f7,-'OLT-41-1-tS C./21-E i'ziazi,--zcit) srailTy 'AVAILABLE BY YOUR DRAFTS DRAWN ON ....-----,-.,..---,-...--....-..,-CeMRRAES,...-.....---,,..--.................,- . ..---------44—....., AT - - • ' ----.`"---*--"---------SMT--------------••••• •••TO BE ACCOMPANIED BY: , , 1, . - 'ker.* ..sicim,,,,A ce,.--tificat"..son- that ex...1 4:-...f l'...'wo ys.-.1ars frm .17. ibit 61s.' raair. t9,1".41e...- 1 Iv Um, Cit-,.., 4:-4 Pearlane.., wat-.e.r 1irg..?.4. aria Sr z,*.rvicv: pro- vi&,1 tr.1 Pear1?...nd fria3 tb-v inters-tx:t.iza .cf. ey.mt-,7 amc.': 555 dna. ro 510 to aw,-..ti tra-t. at a Izo,137t eztizatteid t.z. .6135,0M,CiCt tave mt. beer:, omml-eiml ------------ „, _ . , .., - , - - , . - . . _„„, ' .i . - , • . . i.'. 4.. ... . ..1* I : ' , FitESM:10 aor Tan OFFICE DRAFTS MUST BE DRAWN AND NEGOVerATEDWOrf LATER THAN --,-.4;tebr-tim•-,.:,••• ,.1-- I OR/t--,---..--T-EACH DRAFT MUST BE - .., MARKED"DRAWN UNDER LETTER OF CREDIT NO.°J21.g OF THE ALLIED BANK OF TEXAS, HOUSTON, DATED AND THE AMOUNT OF EACH DRAFT SO DRAWN ENDORSED- BY THE NEGOTIATING BANK ON THE REVERSE SIDE HEREOF. WHEN PRESENTED BY THE MAKER DIRECT TO THE DRAWEE BANK,THE DRAFTS MUST BE ACCOMPANIED BY THIS LETTER OF CREDITFORTHE - PURPOSE OF SUCH ENDORSEMENTS BEING MADE THEREON. 1 WE HEREBY AGREE WITH THE DRAWERS,,ENDORSERS AND BONA FIDE HOLDERS OF DRAFTS DRAWN UNDER AND IN -COMPLIANCE . WITH THIS CREDIT THAT SAME SHALL BE DULY HONORED UPON PRESENTATION TO THE DRAWEE BANK AS SPECIFIED ABOVE. , . ' . SINCERELY, ALLIED BANK OF TEXAS ' , THIS CREDIT IS SUBJECT TO,THE "UNIFORM" CUSTOMS AND PRACTICE..,. , • , , . FOR DOCUMENTARY CREDITS (1974 REVISION). INTERNATIONAL CHAM- , _ , , • BER OF COMMERCE BROCHURE NO.290. , , .• ' , AUTHORIZED SIGNATURE - of "k'� � Y ,A�� r i to n' g } 5A A wat ,bY j G 1 A yj yy y ,S .t i g 00 ' ` ,a.qY •. P.O.BOX 3326,HOUSTON,TEXAS 77001 (713)224-6611 INTERNATIONAL BANKING DEPARTMENT TELEX 792193 ALBANK INT HOU February 23, 1982 City of Pearland 2337 N. Texas Avenue Pearland, Texas 77581 Reference: Our Letter of Credit No. 9218 for US$135,000.00 'your favor. Gentlemen: We are pleased to enclose the original and one Dopy of the above noted letter of credit for your files. Yours truly, Authorized Signature hlr Enclosures