HomeMy WebLinkAboutContract 47396 -A
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DEC 31.2015 CITY SECRETARY. -
CONTRACT NO.
T CITYrORTWORTIf CFA ESCROW AGREEMENT
r'rr!7rPsTARY
THIS ESCROW AGREEMENT (the "Agreement"), entered into as of this 17th day of
Decenber, 2015 ("Effective Date"), by and among ROANOKE 35/114 PARTNERS, L.P., a Texas
limited partnership ("Developer"), LRIC, LLC, a Texas limited liability company ("LRIC"),
the CITY OF FORT WORTH, a Texas municipal corporation ("Fort Worth") and FIRST
AMERICAN TITLE INSURANCE COMPANY C/O REPUBLIC TITLE OF TEXAS,
INC. ("Escrow Agent") is to witness the following:
WHEREAS, Developer and Fort Worth have entered into a Community Facilities
Agreement for Champions Circle — Bucees Boulevard, Pilgrim Drive, and Outlet Boulevard
(CFA No. 2015-071, DOE No. 7467, City Project No. 02589 in the City of Fort Worth, Denton
County, Texas) (the "CFA"); and
WHEREAS, the CFA provides that Developer shall submit to Fort Worth performance
bonds, cash deposits or other financial security acceptable to Fort Worth (collectively, the
"Financial Security") for the purpose of guaranteeing satisfactory compliance by Developer
with all requirements, terms and conditions of the CFA (the "CFA Obligations"); and
WHEREAS, Developer and Fort Worth desire and agree that Developer be allowed to
escrow and pledge cash deposits to Fort Worth, to be held by Escrow Agent as an escrow agent,
in complete satisfaction of the obligation to submit the Financial Security to secure the
performance of the CFA Obligations; and
WHEREAS, LRIC is the contract purchaser of an approximately 54.73 8 acres ("LRIC
Tract") in Developer's Champions Circle development pursuant to an Earnest Money Contract
dated November 18, 2014, as subsequently amended ("Contract"); and
WHEREAS, pursuant to the Contract, Developer is responsible to LRIC for completing
the construction of a portion of the CFA Obligations ("LRIC-Related CFA Obligations") the
reasonably estimated cost of which is $2,662,824.74 ("LRIC-Related CFA Obligations Cost"),
as set forth in the attached Exhibit "A", on or before twelve (12) months after the closing of the
transaction contemplated by the Contract ("Construction Deadline"); and
WHEREAS, the estimated cost of the CFA Obligations (including the LRIC-Related
CFA Obligations) are set forth in the attached Exhibit"B"; and
WHEREAS,Developer and LRIC desire to set up an escrow account with Escrow Agent
with Developer depositing 125% of the reasonably estimated costs to complete the CFA
Obligations (including the LRIC-Related CFA Obligations), which is $5,869,367.86
("Developer's Deposit"); and
WHEREAS, Fort Worth has agreed that Developer may deposit 125% of the reasonably
estimated costs to complete the CFA Obligations,plus applicable testing and City inspection fees
into an escrow account with Escrow Agent as the Financial Security for the CFA Obligations.
OFFICIAL RECORD
1970241.3 CITY SECRETARY
T
'.WORTH,Tx
NOW THEREFORE, for and in consideration of these recitals, ten dollars ($10.00) and
other good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby
acknowledged, the parties hereto agree as follows:
SECTION 1. DEFINED TERMS.
For the purposes of this Agreement, unless the context otherwise clearly requires, the
following terms shall have the following meanings:
"Security Funds" shall mean Developer's Deposit.
"Lien" shall mean any lien, security interest, charge, tax lien, pledge or encumbrance
designed to secure the repayment of indebtedness or the satisfaction of any other
obligation to a third party not a party of this Agreement.
SECTION 2. SECURITY FUNDS.
As financial security for the full and punctual performance of the CFA Obligations,
Developer hereby pledges, assigns, and transfers to Fort Worth, and hereby grants to Fort Worth
a security interest in the Security Funds and all rights and privileges pertaining thereto with the
exception of the interest income to be derived therefrom (which interest income shall remain the
property of Developer and shall be distributed by Escrow Agent in accordance with Developer's
periodic instructions) subject, however, to the terms, covenants, and conditions hereinafter set
forth. The security interest granted and the assignments made hereunder are made as security
only and shall not subject Fort Worth or Escrow Agent to, or transfer or in any way affect or
modify, any obligation of Developer with respect to the CFA Obligations or any transaction
involving or giving rise therefrom.
SECTION 3. PHYSICAL POSSESSION OF SECURITY FUNDS.
Concurrently with the execution of this Agreement, Developer shall have delivered to
and deposited with Escrow Agent the Security Funds. The parties acknowledge and agree that
Escrow Agent shall be required to segregate the Security Funds from other funds held by Escrow
Agent in accordance with the normal practices of Escrow Agent acting as an escrow agent.
Escrow Agent shall invest the Security Funds in an interest-bearing account with Texas Capital
Bank, N.A. Escrow Agent shall make periodic disbursements of the Security Funds in
accordance with Section 9 below, and shall return all funds on deposit representing or evidencing
the Security Funds remaining in its possession to Developer (or take such other action as
Developer may request or direct) immediately after receipt of written notice from Fort Worth
that the CFA Obligations have been.fully performed. During such time as Escrow Agent has
possession of the Security Funds, Escrow Agent shall furnish to Fort Worth (when requested by
Fort Worth) written acknowledgments signed by an officer of Escrow Agent detailing the
amount of the Security Funds. Fort Worth's rights in the Security Funds shall be superior to
those of Escrow Agent's notwithstanding any terms or understandings (written or otherwise)
between Developer, LRIC and Escrow Agent.
1970241.3
SECTION 4. COVENANTS.
(a) Affirmative Covenants. So long as any of the CFA Obligations remain
unperformed, Developer covenants and agrees that Developer will:
(i) from time to time execute and deliver to Fort Worth all such assignments,
certificates, supplemental writings, and other items and do all other acts or
things as Fort Worth may reasonably request in order to evidence and perfect
the security interest of Fort Worth in the Security Funds;
(ii) furnish Fort Worth with information which Fort Worth may reasonably
request concerning the Security Funds;
(iii) notify Fort Worth of any claim, action or proceeding affecting title to the
Security Funds or Fort Worth's security interest(s)therein; and
(iv) adjust the Security Funds to an amount equal to the actual contract price for
the CFA Obligations, including revisions thereto, if the original Security
Funds were based on an engineer's estimate of costs.
(b) Negative Covenants. So long as any of the CFA Obligations remain unperformed,
Developer covenants and agrees that it will not:
(i) assign or transfer any rights of Developer in the Security Funds; or
(ii) create any Lien in the Security Funds, or any part thereof, or permit the same
to be or become subject to any Lien except the security interest herein created
in favor of Fort Worth.
SECTION 5. EVENTS OF DEFAULT.
Developer shall be in default under this Agreement only upon the happening of any of the
following events (a"Default"):
(a) default in the timely payment for or performance of the CFA Obligations after
written notice thereof has been given to Developer, LRIC and Escrow Agent and
such default is not cured within seven(7) days after such notice; or
(b) any affirmative or negative covenant is breached by Developer.
SECTION 6. RIGHTS AND REMEDIES OF FORT WORTH UPON AND AFTER
DEFAULT.
(a) Remedy. Upon the occurrence of a Default and subject to LRIC's completion
rights in Section 9, Fort Worth shall have the right to direct Escrow Agent to
transfer to Fort Worth all of the Security Funds. Escrow Agent is hereby
authorized to transfer the Security Funds immediately upon the receipt of a
written statement purporting to be executed by an authorized representative of
Fort Worth stating that:
1970241.3
(i) a Default by Developer has occurred related to the CFA Obligations;
(ii) written notice of such Default has been given by Fort Worth to Developer,
LRIC and Escrow Agent and such Default was not cured within seven (7)
days after such notice; and
(iii) Fort Worth is entitled to have the Security Funds transferred in accordance
with the Agreement.
(b) Notices. Any notice required or permitted to be given to any party hereto shall be
given in writing, shall be personally delivered or mailed by prepaid certified or
registered mail to such party at the address set forth below, and shall be effective
when actually received.
To Developer:
Roanoke 35/114 Partners, L.P.
c/o Fine Line Diversified Development
201 Main Street, Suite 3100
Fort Worth, Texas 76102
Attention: William V. Boecker
Telephone: 871-255-5781
Telecopy: 817-334-0795
with a copy to :
Patricia F. Meadows
Kelly Hart&Hallman LLP
201 Main Street, Suite 2500
Fort Worth, Texas 76102
Telephone: (817) 878-3549
Telecopy: (817) 878-9749
To LRIC:
LRIC, LLC
Attn: Steve Lipscomb
4311 Oak Lawn, Suite 370
Dallas, Texas 75219
with a copy to :
SettlePou
Attn: Jeff Porter
3333 Lee Parkway, Eighth Floor
Dallas, Texas 75219
Telephone: (214) 520-3300
Telecopy: (214) 526-4145
1970241.3
To Fort Worth:
City of Fort Worth
Attn: Fort Worth Treasurer
1000 Throckmorton
Fort Worth, TX 76102
with a copy to:
City of Fort Worth
Attn: CFA Administration
1000 Throckmorton
Fort Worth, TX 76102
Any party may change its address for notice by giving all other parties hereto notice to
such change in the manner set forth in this Section no later than ten(10) days before the effective
date of such new address.
SECTION 7. EXCLUSIVE RIGHTS AND REMEDIES.
If Developer fails to perform its obligations under the CFA, Fort Worth's sole and
exclusive remedy shall be to complete the obligations of Developer at Developer's expense. In
furtherance of such sole and exclusive remedy, Fort Worth is entitled to exercise its rights as set
forth in Section 6 hereof, subject to LRIC's completion rights in Section 9.
SECTION 8. SUBSTITUTION OF COLLATERAL.
Notwithstanding any contrary provision in this Agreement, Developer shall have the
right, at any time and from time to time, to obtain releases of all or any part of the Security Funds
(hereinafter called the "Released Collateral")upon satisfaction of the following conditions:
(a) Developer shall provide Fort Worth and Escrow Agent written notice (the
"Substitution Notice") that Developer desires to obtain Released Collateral in
exchange for a contemporaneous substitution of an alternate Financial Security
acceptable to Fort Worth(as specified and described in the Substitution Notice);
(b) Developer shall pledge to, or obtain for the benefit of Fort Worth, and deliver to
Fort Worth the alternate Financial Security acceptable to Fort Worth (the
"Substituted Collateral") which Substituted Collateral shall in the aggregate be
at least equal to the Estimated Developer's Cost; and
(c) The Substituted Collateral shall be of sufficient amount(s)to cover all work which
has occurred prior to the substitution of collateral provided for in this Section.
Upon satisfaction of the above-specified conditions, Escrow Agent shall be authorized
(without the further consent of Fort Worth) to return to Developer the original Security Funds in
Escrow Agent's possession that represent or evidence the Released Collateral or take such other
action with respect to the Released Collateral as Developer may request or direct. Developer
shall pay the expenses incurred by Escrow Agent in connection with obtaining each such release
and substitution.
1970241.3
SECTION 9. PERIODIC WITHDRAWAL OF COLLATERAL.
(a) Notwithstanding any contrary provision in this Agreement, Developer shall have
the right to make monthly withdrawals of the Developer's Deposit portion of the
Security Funds (hereinafter called the "Withdrawn Collateral') during the
construction process, upon satisfaction of the following conditions:
(i) Developer shall provide Fort Worth, LRIC and Escrow Agent with written
notice (the "Withdrawal Notice") that Developer desires to obtain the
Withdrawn Collateral in any amount less than or equal to the then-completed
CFA Obligations as inspected or accepted by Fort Worth; and
(ii) The balance of the Security Funds after withdrawal of the Withdrawn
Collateral is at least equal to the estimated value of the CFA Obligations then
remaining to be performed (such remaining value is hereinafter called the
"Estimated Cost to Complete").
The Withdrawal Notice shall include a description of the Withdrawn Collateral,
reasonable supporting documentation of the costs and expenses attributable to the requested
Withdrawn Collateral, and Developer's calculation of the Estimated Cost to Complete. Upon
receipt of the Withdrawal Notice, Fort Worth shall have seven (7) calendar days to notify
Developer and LRIC of Fort Worth's objection to Developer's calculation of the Estimated Cost
to Complete by providing Developer with Fort Worth's calculation of the Estimated Cost to
Complete. The grounds for any objection are limited solely to a good faith determination by Fort
Worth that the balance of the Security Funds is insufficient to cover the Estimated Cost to
Complete. If Fort Worth fails to timely notify Developer, LRIC and Escrow Agent of any
objection, then Developer's calculation shall be deemed to have been accepted and approved by
Fort Worth, and Escrow Agent is authorized to release the Withdrawn Collateral requested by
Developer without delay. In the event a written objection is timely filed by Fort Worth and Fort
Worth's calculation is within a range of five percent (5%) of Developer's Estimated Cost to
Complete, then Developer shall be allowed to withdraw the amount corresponding to Fort
Worth's calculation of the Estimated Cost to Complete with Developer having a right to
reconcile the discrepancy with Fort Worth in subsequent Withdrawal Notices. If Fort Worth's
calculation of the Estimated Cost to Complete is outside a range of five percent (5%) of
Developer's Estimated Cost to Complete, then Fort Worth and Developer, through a designated
representative, will reconcile the calculations and jointly approve an Estimated Cost to Complete
and advise Escrow Agent to disburse the amount as jointly determined. Upon any such
distribution of Withdrawn Collateral, Escrow Agent shall concurrently notify Fort Worth, LRIC
and Developer of the amount of the Withdrawn Collateral and of the remaining balance of the
Security Funds.
(b) If Developer fails to complete the LRIC-Related CFA Obligations by the
Construction Deadline, then LRIC, as its sole and exclusive remedies, may, upon
prior written notice to Escrow Agent, Fort Worth and Developer, either (i) extend
the Construction Deadline, or (ii) construct, in accordance with the CFA the
applicable portions of the LRIC-Related CFA Obligations that Developer has
failed to construct, in which event Developer shall grant to LRIC temporary
construction easements and shall assign and transfer to LRIC all of Developer's
1970241.3
design and construction contracts and agreements, subcontracts, and material
supply agreements and/or purchase orders to allow LRIC to complete construction
of the LRIC-Related CFA Obligations. In addition, if LRIC elects the second
option from the preceding sentence, then LRIC shall also be authorized to request
Withdrawn Collateral of up to $3,328,530.93 of the remaining Escrow Funds,
which amount represents 125% of the LRIC-Related CFA Obligations Cost
during the construction process upon delivery to Escrow Agent, Fort Worth, and
Developer of a Withdrawal Notice, reasonable supporting documentation of the
cost and expenses attributable to the requested Withdrawn Collateral, and LRIC's
calculation of the Estimated Cost to Complete the LRIC-Related CFA
Obligations. Upon receipt of the Withdrawal Notice, Fort Worth shall have seven
(7) calendar days to notify LRIC of Fort Worth's objection to LRIC's calculation
of the Estimated Cost to Complete the LRIC-Related CFA Obligations by
providing LRIC with Fort Worth's calculation of the Estimated Cost to Complete
the LRIC-Related CFA Obligations. The grounds for any objection are limited
solely to a good faith determination by Fort Worth that the balance of the
Escrowed Funds is insufficient to cover the Estimated Cost to Complete the
LRIC-Related CFA Obligations. If Fort Worth fails to timely notify LRIC,
Developer and Escrow Agent of any objection, then LRIC's calculation shall be
deemed to have been accepted and approved by Fort Worth, and Escrow Agent is
authorized to release the Withdrawn Collateral requested by LRIC without delay.
In the event a written objection is timely filed by Fort Worth and Fort Worth's
calculation is within a range of five percent (5%) of LRIC's Estimated Cost to
Complete the LRIC-Related CFA Obligations, then LRIC shall be allowed to
withdraw the Withdrawn Collateral in the amount corresponding to Fort Worth's
calculation of the Estimated Cost to Complete the LRIC-Related CFA
Obligations, with LRIC having a right to reconcile the discrepancy with Fort
Worth in subsequent Withdrawal Notices. If Fort Worth's calculation of the
Estimated Cost to Complete the LRIC-Related CFA Obligations is outside a range
of five percent (5%) of LRIC's Estimated Cost to Complete the LRIC-Related
CFA Obligations, Fort Worth and LRIC, through a designated representative, will
reconcile the calculations and jointly approve an Estimated Cost to Complete the
LRIC-Related CFA Obligations and advise Escrow Agent to disburse the amount
as jointly determined. Upon any such distribution of Withdrawn Collateral,
Escrow Agent shall concurrently notify Fort Worth, LRIC and Developer of the
amount of the Withdrawn Collateral and of the remaining balance of the Security
Funds.
If the reasonable cost to LRIC of constructing the LRIC-Related CFA Obligations that
Developer has failed to construct exceeds the Escrow Funds, Developer shall pay such
reasonable additional costs to LRIC within thirty (30) days after its receipt from LRIC of written
notice reasonably evidencing such additional costs. If the reasonable cost to LRIC of
constructing the LRIC-Related CFA Obligations that Developer has failed to construct is less
than the amount of the Escrow Funds disbursed to LRIC pursuant hereto, then Escrow Agent
shall disburse the remaining Security Funds as set forth in Section 3 after receipt of written
notice from Fort Worth that the CFA Obligations have been fully performed.
(c) If after the expiration of two (2) years from the date of this Agreement either:
1970241.3
t
(i) none of the CFA Obligations have been performed; or
(ii) there has been partial performance but the term of the CFA has not been
extended by Fort Worth;
then, in either event, Fort Worth shall be entitled to receive the Security Funds as specified in
Section 6 and construct the improvements contemplated in the CFA.
SECTION 10. NON-ASSIGNABILITY OF FORT WORTH'S RIGHTS.
The rights, powers, and interests held by Fort Worth hereunder in and to the Security
Funds may not be transferred or assigned by Fort Worth in whole or in part. Any attempted
transfer or assignment shall be absolutely void and shall entitle Developer to a release of all
Security Funds.
SECTION 11. NO WAIVER.
No waiver by Fort Worth of any Default shall be deemed to be a waiver of any other
subsequent Default. No delay or omission by Fort Worth in exercising any right or power
hereunder shall impair any such right or power or be construed as a waiver thereof, nor shall any
single or partial exercise of any such right or power preclude other or further exercise thereof.
SECTION 12. BINDING EFFECT.
This Agreement shall be binding on the parties, their successors and assigns. No
provision of this Agreement may be amended, waived, or modified except pursuant to a written
instrument executed by Fort Worth, Escrow Agent,Developer and LRIC.
SECTION 13. CHOICE OF LAW.
This Agreement is to be construed and interpreted in accordance with the laws of the
State of Texas.
SECTION 14. COUNTERPARTS.
This Agreement may be executed in any number of multiple counterparts and by different
parties on separate counterparts, all of which when taken together shall constitute one and the
same agreement.
1970241.3
SECTION 15. INDEMNITY.
Developer and LRIC each hereby agrees to release, hold harmless, and indemnify
Escrow Agent (and its directors, officers, employees, agents and representatives) from and
against all claims, damages, expenses, costs, suits and other liability of any kind whatsoever
that arise out of or are directly or indirectly related to the performance by Escrow Agent of
its duties hereunder except for the gross negligence or willful misconduct of Escrow Agent
or its directors, officers, employees, agents or representatives and Developer and LRIC
each hereby agrees to release, hold harmless, and indemnify Fort Worth (and its respective
directors, officers, employees, agents and representatives) from and against all claims,
damages, expenses, costs, suits and other liability of any kind whatsoever that arise out of
or are directly or indirectly related to any actions or inaction by Fort Worth with respect to
this Agreement.
SECTION 16. PAYMENT OF ESCROW FEES.
Escrow Agent shall earn a fee of$100.00 for services performed under this Agreement,
and Developer and LRIC shall share equally in the fee charged by Escrow Agent.
[Remainder of Page Intentionally Blank; Signatures to Follow]
1970241.3
ACCORDINGLY, Fort Worth, Developer, LRIC and Escrow Agent have each caused
this instrument to be executed in quadruplicate in each entity's respective name by its duly
authorized signatories effective as of the date executed by the City Manager or his/her designee.
DEVELOPER: ROANOKE 35/114 PARTNERS, L.P.,
a Texas limited partnership
By: Roanoke 35/114 Genpar, L C,
its general a ne
By:
William V. Boecker, Manager
LRIC: LRIC,LLC,
a Texas limited liability company
By:
Stephen M. Lipscomb, Manager
FORT WORTH: CITY O`FFn,O,RITZ WORTH
By: VX�✓ W M
Fernando CostaaU
Assistant City Manager
Approved as to form&legality:
Douglas W. Black
Sr. Assistant City Attorney OR
M&C No. ,�J, /'t
Date: 0 �b0
Atte
114","—
MJ. kayser, City Secretar ` .
ESCROW AGENT: FIRST AMERICAN TITLE INSURANCE COMPANY
C/O REPUBLIC LE OF TEXAS,INC.
By:
Name:
Title: C
OFFICIAL RECORD
CITY SECRETARY
1970241.3 FT.WORTH,TX
ACCORDINGLY, Fort Worth, Developer, LRIC and Escrow Agent have each caused
this instrument to be executed in quadruplicate in each entity's respective name by its duly
authorized signatories effective as of the date executed by the City Manager or his/her designee.
DEVELOPER: ROANOKE 35/114 PARTNERS,L.P.,
a Texas limited partnership
By: Roanoke 35/114 Genpar, LLC,
its general partner
By:
William V. Boecker,Manager
LRIC: LRIC,LLC,
a Texas limite ability co
By: JAI� �— ?R�XA
Stephen . Lipscomb pager
FORT WORTH: CITY OF FORT WORTH
By:
Fernando Costa
Assistant City Manager
Approved as to form& legality:
Douglas W. Black
Sr. Assistant City Attorney
M&C No.
Date:
Attest:
Mary J. Kayser, City Secretary
ESCROW AGENT: FIRST AMERICAN TITLE INSURANCE COMPANY
C/O REPUBLIC TITLE OF TEXAS,INC.
By:
Name:
Title:
1970241.3
Exhibit"A" to CFA Escrow Agreement
LRIC-Related CFA Obligations:
1. Construction of water lines, storm water drains to the extent required by the City,paving, and
curbs for extension of Bucees Boulevard west of Tanger Boulevard to its intersection with
Pilgrim Drive with suitable capacities to service the LRIC Tract pursuant to Fort Worth code
requirements.
2. Construction of storm water drains and sanitary sewer lines in Pilgrim Drive from Bucees
Boulevard south to Outlet Boulevard and in Outlet Boulevard from Pilgrim Drive southeast
to I-35 frontage road with suitable capacities to service the LRIC Tract pursuant to Fort
Worth code requirements.
1970241.3
LRIC-Related CFA Obligations Cost:
9/11/2015 SELF-REMEDY CONSTRUCTION COST ESTIMATE BURY#= Ro111915-30003
To SERVE CITY#:o2589
CHAMPIONS CENTER
BID ITEM DESCRIPTION UNIT APPROX. UNIT TOTAL
NO- QUANTITY PRICE AMOUNT
A.WATER DISTRIBUTION SYSTEM
3311.0001 FITTINGS,TEES,AND CROSSINGS TONS o.66 $9,482-64 $6,211.13
3311-0461 12"P.V-C.WATERLINE LF 1,445 $34-6o $49,997-00
3312.3005 12"GATE VALVE&BOX EA 4 $2,592.48 $10,369.92
33o5.olog TRENCH SAFETY LF 1,445 $0.52 $751.40
9999.0001 TESTING(EXCLUDING GEOTECH.) LF 1,445 $0.52 $751.40
SUB - TOTAL WATER DISTRIBUTION SYSTEM $68,080.85
B. SANITARY SEWER SYSTEM
3331-4115 8-P.V-C.PIPE(o'-l0'DEEP) LF 2,486 $21.58 $53,647-88
3331-4208 12"P.V.C.PIPE(o'-lo'DEEP) LF 986 $3054 $30,112.44
9999.0002 ADDITIONAL LINE DEPTH(iLF PER VF) VF 1,948 $5.27 $10,265.96
3339.1001 4'DIAMETER MANHOLE EA 5 $4,010.32 $20,o53.6o
33391301 5'DIAMETER MANHOLE EA 6 $5,175-46 $31,052-76
3339.1102 S'DIAMETER DROP MANHOLE EA 1 $6,744-93 $6,744-93
3339.1103 EXTRA DEPTH MH(W) VF 80 $280.49 $22,439.20
9999.0003 CONNECT TO EXIST.S.S-MH EA 1 $4.017.01 $4,017.01
3305.o1o9 TRENCH SAFETY LF 3,472 $1.66 $5,763.52
3301.0002 POST T.V.INSPECTION LF 3,472 $329 $4,478-88
SUB - TOTAL SANITARY SEWER SYSTEM $388,574-18
C. STORM SEWER SYSTEM
3341.0201 21"R.C.P. LF 267 $44.73 $11,942.91
3341-0205 24-R.C.F. LF 87 $5453 $4,742-37
3341-0309 36"R.0-P- LF 27 $100.95 $2,725.65
3341-0409 48"R-C.P. LF 71 $173.96 $12 209.16
3341.o602 6o"R-C.P- LF 368 $221.08 $37,14144
3341.1403 7'x5'R.C.B. LF 6o7 $357.57 $217.044.99
3341.16o2 9'x5.R.C.B- LF 3,268 $465-77 $1,522,136.36
3349.5001 lo'INLET EA 8 $2,498.38 $19,987.04
3349-7001 4'DROP INLET EA 2 $6,350.30 $12,7oo.6o
3349.7002 5'DROP INLET EA 2 $7,500.00 $15,000.00
3349.0102 4 MANHOLE RISERS EA 2 $2,668.90 $5,337.80
3349.1000 BOX CULVERT HEADWALL EA 1 $14,22143 $14,221.43
9999.0005 CONCRETE ENERGY DISSIPATOR EA 1 $6,914.39 $6,914.39
3137-olol ROCK RIPRAP Sy 2,150 $42.59 $9L568.5o
3305-01o9 TRENCH SAFETY LF 1227 $1.02 $1,25154
9999.0006 TESTING&TV INSPECTION LF 1227 $1.27 $1,558.29
SUB - TOTAL STORM SEWER SYSTEM $3,976,482.47
BURY
1 w�c-w-ascll.nema3�aHmetmlxowma¢icm.champu+mccncatsls
1970241.3
9/11/2015 SELF-REMEDY CONSTRUCTION COST ESTIMATE BURY#: Row915-30003
TO SERVE CITY#:o2589
CHAMPIONS CENTER
BID ITEM DESCRIPTION UNIT APPROX. UNIT TOTAL
NO. QUANTITY PRICE AMOUNT
D.STREET PAVING
3213-0103 8"REINFORCED CONCRETE STREET PVMT. SY 6,o6g $45.83 $278,142.27
3213.0502 BARRIER FREE RAMPS EA 1 $1,041.10 $1,041.10
3217.0003 STRIPING-4"STRIPE LF 1,300 $1.16 $1,508.00
3471.0001 TRAFFIC HANDLING MO 1 $2,241-64 $2,241.64
SUB - TOTAL STREET PAVING $282,933.01
NOTE:ALL CONCRETE PAVEMENT AND CURBS SHALL BE 3600 PSI REINFORCED.
E. EXCAVATION
3110.0101 CLEARING AND GRUBBING ACRE 8 $1,458.11 $11,66¢88
3123.0101 STREET AND RIGHT-OF-WAY EXCAVATION CY 5,950 $4.91 $29.214-50
3125.0102 SILT FENCE LF 11,180 $1.72 $19,229.6o
3125.0103 CURLEX AFTER PAVING LF 1,300 $1.07 $1,391.00
3125.0104 INLET PROTECTION EA 12 $107.33 $1,287.96
3125.0105 CONSTRUCTION ENTRANCE EA 1 $1,366.14 $1,366.14
3125.01o1 EROSION CONTROL LOT 1 $3.359-15 $3,359-15
SUB - TOTAL EXCAVATION $67513.23
F.MISCELLANEOUS ITEMS
3341.3003 STREET LIGHT COMPLETE AND IN PLACE EA 7 $5,050.00 $35,350.00
3441.32o1 LED COBRA HEADS EA 8 $900.00 $7,200-00
2605.3032 4"ELECTRIC CONDUIT LF 520 $13.00 $6,76o.00
26o5.o1o1 UNDERGROUND ELECTRICAL DISTRIBUTIOI LF 1,300 $21.00 $27,300.00
6"PVC GAS CONDUIT LF 65 $17.40 $1,131.00
3441-4003 STREET SIGNS EA 3 $500.00 $1,500.00
SUB - TOTAL MISCELLANEOUS ITEMS $79,241.00
S11 M M A R Y
A.WATER DISTRIBUTION SYSTEM $68,o80.85
B.SANITARY SEWER SYSTEM $188,574.18
C.STORM SEWER SYSTEM $1,976,482.47
D.STREET PAVEMENT $282,933.01
E-EXCAVATION $67,513-23
F.MISCELLANEOUS ITEMS $79,241-00
TOTAL ESTIMATED CONSTRUCTION COST $2,662,824-74
NOTES:
Landscaping not included in this estimate.
This estimate does not include required fees.
BU RY 2 .�1CoZw[.1t.Remcd7 Ol<berlmptne.mcaiC�i.ChamFsons Ccm[ct.x�
1970241.3
Exhibit"B"to CFA Escrow Agreement
Total CFA Obligations Cost:
12/16/2015 CONSTRUCTION COST ESTIMATE BURY#: Ron1915-30003
FOR CITY#:o2589
BUCEES BLVD.PILGRIM DR.OUTLET BLVD.
BID ITEM DESCRIPTION UNIT APPROX. UNIT TOTAL
NO. QUANTITY PRICE AMOUNT
A.WATER DISTRIBUTION SYSTEM
3311.0001 FITTINGS,TEES,AND CROSSINGS TON 2.13 $9,482.64 $20,198.02
3311.0261 8"P.V.C.WATERLINE LF .476 $21.44 $10,203.06
3311.0461 12"P.V.C.WATERLINE LF 4,149 $34.595 $143,534.66
3312.3002 6"GATE VALVE&BOX EA 1 $1,153.21 $1,153.21
3312.3003 8"GATE VALVE&BOX EA 4 $1,593.11 $6,372.44
3312.3005 12"GATE VALVE&BOX EA 14 $2,592.48 $36,294.72
3312.4211 24!'X 12"TAPPING SLEEVE AND VALVE EA 1 $17,427.54 $17,427.54
3312.0117 CONNECT TO EXISTING 12"WATER LINE EA 2 $2,o85.66 $4,171.32
3312.0108 CONNECT TO EXISTING 24"WATER LINE EA 1 $3,084.76 $3,084.76
3312.0001 FIRE HYDRANT ASSEMBLY EA 1 $3,930.53 $3,930.53
3305.0109 TRENCH SAFETY LF 4625 $0.52 $2,405.00
9999•oo01 TESTING(EXCLUDING GEOTECH.) LF 4625 $0.52 $2,405.00
SUB - TOTAL WATER DISTRIBUTION SYSTEM $251,180.26
&SANITARY SEWER SYSTEM
3331.4115 8"P.V.C.PIPE(o'-1o'DEEP) LF 2,486 $21.58 $53,647.88
3331.4208 12"P.V.C.PIPE(0'-1o'DEEP) LF 986 $3054 $30,107.51
9999.0002 ADDITION LINE DEPTH(ILF PER VF) VF 1,948 $5.27 $10,265.96
3339.1001 4'DIAMETER MANHOLE EA 5 $4,010.32 $20,051.6o
3339.1101 5'DIAMETER MANHOLE EA 6 $5,175.46 $31,052.76
3339.1102 5'DIAMETER DROP MANHOLE EA 1 $6,744.93 $6,744.93
9999.0003 CONNECT TO EXIST.S.S.MH EA 1 $4,017.01 $4,017.01
339.1103 EXTRA DEPTH MH(>8) VF 80 $280.49 $22,439.20
3305.oio9 TRENCH SAFETY LF 3472 $1.66 $5,76352
9999.0004 TESTING(EXCLUDING GEOTECH.) LF 3472 $1.29 $4,478.88
SUB - TOTAL SANITARY SEWER SYSTEM $188,569.25
C.STORM SEWER SYSTEM
3341.0201 21"R.C.P. LF 441 $44.73 $19,725.93
3341.0205 24"R.C.P. LF 68 $54.51 $3,706.68
3341.0208 27"R.C.P. LF 79 $63.55 $5,020.45
3341.0309 36"R.C.P. LF 27 $100.95 $2,725.65
3341.0409 48"R.C.P. LF a $171.96 $3,611.16
3341.0502 54"R.C.P. LF 108 $194.59 $21,015.72
3341.o6O2 6o"R.C.P. LF 108 $221.08 $23,876.64
3341.1403 7'x5'R.C.B. LF 6o7 $357.57 $217,044.99
3341.1502 8'x5'R.C.B. LF 1,310 $384.87 $504,179.70
3341.1503 8'x6'R.C.B. LF 11103 $415.24 $458,009.72
3341.1602 9'x5'R.C.B. LF 3,268 $465.77 $1,522,136.36
BURY2015112-og Tanger CFA Cost Estimate REVISION_No Fees or Contingencies
1970241.3
12/16/2015 CONSTRUCTION COST ESTIMATE BURY#: Roiligi5-30003
FOR CITY#:02589
BUCEES BLVD.PILGRIM DR.OUTLET BLVD.
BID ITEM DESCRIPTION UNIT APPROX. UNIT TOTAL
NO. QUANTITY PRICE AMOUNT
3349-5001 10'INLET EA 10 $2,498.38 $24,983.80
3349.7001 4'DROP INLET EA 3 $6,350.30 $19,050.90
3349.0102 4'MANHOLE RISERS EA 5 $2,668.90 $13,344.50
3349.100o BOX CULVERT HEADWALL EA 1 $14,221.43 $14,221.43
9999.0005 CONCRETE ENERGY DISSIPATOR EA 1 $6,914.39 $6,914.39
3137.oio1 ROCK RIPRAP SY 2,150 $42.59 $gi,568.5o
3305.oiog TRENCH SAFETY LF 7140 $1.02 $7,282.8o
9999•0006 TESTING&TV INSPECTION LF 7140 $1.27 $9,o67.80
SUB - TOTAL STORM SEWER SYSTEM $2,967,487.12
D. STREET AND ALLEY PAVING
3213.0103 8"REINFORCED CONCRETE STREET PVM7 SY 22864 $45.83 $1,047,857.12
3213.0502 BARRIER FREE RAMPS EA 5 $1,041.10 $5,205.50
3217.0003 STRIPING-4"STRIPE LF 1940 $1.16 $2,250.40
3471.0001 TRAFFIC HANDLING MO 1 $2,241.64 $2,241.64
SUB - TOTAL STREET PAVING $1,057,S54.66
NOTE:ALL CONCRETE PAVEMENT AND CURBS SHALL BE 3600 PSI REINFORCED.
F. MISCELLANEOUS ITEMS
3341.3003 STREET LIGHT POLES EA 21 $5,050.00 $1o6,050.00
3441.32ol LED COBRA HEADS EA 30 $900.00 $27,000.00
26o5.3032 4"ELECTRIC CONDUIT LF 1,992 $13.00 $25,896.00
2605.0101 UNDERGROUND ELECTRICAL DISTRIBUT LF 3,417 $21.00 $71,757.00
SUB - TOTAL MISCELLANEOUS ITEMS $230,703.00
SUMMARY
A.WATER DISTRIBUTION SYSTEM $251,180.26
B.SANITARY SEWER SYSTEM $188,569.25
C.STORM SEWER SYSTEM $2,967,487.12
D.STREET AND ALLEY PAVEMENT $1,057,554.66
F.MISCELLANEOUS ITEMS $230,703.00
TOTAL CONSTRUCTION COST $4,695,494.29
TOTAL ESTIMATED CONSTRUCTION COST $4,695,494.29
BURY201912-o9 Tanger CFA Cost Estimate REVISION No Fees or Contingencies
1970241.3