HomeMy WebLinkAboutContract 30466 TARS
NO.
/
AGREEMENT REGARDING EDGEWOOD ADDITION, PHASE I RELATED TO
THE
PROVISION OF A FINACIAL GUARANTEE BY THE DEVELOPER
WHEREAS, Wildwood Development Company I, Ltd. ("Developer") entered
into a Community Facilities Agreement ("CFA")with the City of Fort Worth ("City") for
the development of a 90-lot subdivision known as Edgewood Addition, Phase I;
WHEREAS, the CFA requires that Developer provide the City with a financial
guarantee to assure that the Developer will (i) install certain community facilities as
described in the CFA, such facilities being hereinafter referred to as the "Community
facilities"; and (ii) pay its contractor(s)for the cost of such community facilities;
WHEREAS, Developer has entered into a construction contract with Site
Concrete, Inc., a Texas Corporation, ("Contractor") a Texas corporation, to furnish labor
and materials for the construction of the Community Facilities identified in the CFA in
and on the tract of land described in Exhibit A attached hereto and incorporated herein
for all purposes;
WHEREAS, the Developer has requested the City to hold the Final Plat for the
project until the Community Facilities have been completed and accepted by the City and
until the Developer provides evidence to the City that the Developer's Contractor has
been paid in full for the installation of the community facilities;
WHEREAS, Developer and Contractor have jointly requested the City to waive
the requirement that the Developer provide City with a financial guarantee as described
above. Labor and materials provided by Site Concrete may be subject to mechanic's or
materialman's liens;
Now, therefore, the Developer, Contractor and City agree as follows:
1. The Parties acknowledge and agree that the City shall hold the final plat of
Edgewood Addition, Phase I, hereinafter referred to as the "Development", until the
community facilities described in the CFA are completed and accepted by the City and all
Contractor installing the community facilities has been paid in full, including retainage.
Upon receipt and acceptance by the City of evidence of completion and the payment by
the Developer of all Hard Costs contractors, the City shall immediately file the final plat
of Edgewood Addition, Phase I in the Tarrant County Plat Records. The purpose of the
City retaining the final plat of Edgewood Addition, Phase I as prescribed herein is to
guarantee the Developer's obligations under the CFA.
�n
2. Developer and Contractor acknowledge and understand that, because the
final plat for the Development will not be filed until the requirements contained in
Paragraph 1 above are met, the Development is private property and not public property,
and is therefore subject to mechanic and materialmen's lien.
3. Developer agrees to include in its contract with Contractor the following
provisions:
a) A statement that the City is not holding any security to guaranty any payment
for work performed on the Community Facilities;
b) A statement that the Development is private property and that same may be
subject to mechanic and materialmen's liens;
c) A requirement that each contractor contracting with the Developer release the
City from any claim that is related to the Property; and
4. Contractor agrees to include in any subcontract that it enters into for work
on the Development the following provisions:
a) A statement that the City is not holding any security to guaranty any
payment for work performed on the Community Facilities;
b) A statement that the Development is private property and that same may
be subject to mechanic and materialmen's liens;
c) A statement that by executing the subcontract, the subcontractor waives
and releases the City from any claim it has arising out of the construction
of the Community Facilities as it relates to the City not holding any
guarantee to assure the Developer's completion of and payment for such
Facilities.
5. Contractor acknowledges that Developer is providing this Agreement to
the City in lieu of providing a financial guarantee as required under the Policy for the
Installation of Community Facilities, and that other than this Agreement, City is not
holding any financial guarantee to assure that Contractor will be paid by the Developer
for the installation of the community facilities.
Short Form Completion Agreement
Page 2 of 7
6. Contractor hereby releases City from any cause of action that it might
have arising out of this Agreement, the CFA, or under its contract with Developer for the
installation of the community facilities as described in the CFA.
7. Contractor expressly waives the provisions of Texas law which
requires that a general release does not extend to claims which the creditor does not
know or suspect to exist in the creditor's favor at the time of executing the release,
which if known to the creditor must have materially affected the creditor's
settlement with the debtor.
Executed this the V-�day of August, 2004.
WILDWOOD DEVELOPMENT
COMPANY I, LTD
By: Wildwood Development
Company, Inc
a Texas corporation,
its general partner
411,&
By: Ja R. Gaubert,
President
Attest: SITE CONCRETE, INC.
By: V Jean S. Boney
Its: President
Attest: CITY OF FORT W RTH
,/ \A. A,4-�W/A-�k�
C
City Secretary are A. Ott
As istant City Manager
Approved as to form and legality:
contract Authorization
Assistant rty Attorney date -- R E
CEI VED
AUG 2 3 2004
Short Form Completion Agreement
Page 3 ojr 7 `'4`' iU g
THE STATE OF TEXAS §
COUNTY OF DALLAS §
BEFORE ME, the undersigned authority, a Notary Public in and for the State of
Texas, on this day personally appeared Jean S. Boney, President of SITE CONCRETE,
INC., known to me to be the person whose name is subscribed to the foregoing instrument,
and acknowledged to me that she executed the same for the purposes and consideration
therein expressed.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this ' day
of ( 20a.
Eo,-
JODIE C.COUCHblic in and for the
MY COMMISSION EXPIRES
oaonet,2,Zoos
4te exas
THE STATE OF TEXAS §
COUNTY OF DALLAS §
This instrument was acknowledged before me on the -2�Sr( day of(2
<
2004, by Jack R. Gaubert, as the President of Wildwood Development Company, nc., a
Texas corporation, the general partner of Wildwood Development Company I, LP, a
Texas limited partnership, on behalf of said limited partnership.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this ZS� day
of , 20 .
17
r",""„• DANETTE Notary Public in and for the
?�: -•y° Way Pubk SIM d 7GW State of Texas
my
a* NOVE BM ER 7,2006
RECEIVED
AUG 2 3 2004
Short Form Completion Agreement _
Page 4 of 7 ��� _
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, a Notary Public in and for the State of
Texas, on this day personally appeared Marc A. Ott, known to me to be an assistant city
manager for the City of Fort Worth, whose name is subscribed to the foregoing instrument,
and acknowledged to me that he executed the same for the purposes and consideration
therein expressed.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this v2 day
of Se0'c�i, �Gr , 20 Oq
otary Public in and for the
State of Texas
� rhG 1�Tdr_ i
" MY COMM lSSIOI<EANIRES
July 26,2007
Short Form ConWledon Agreemmt
Page 5of7
Exhibit A
TRACT 1 :
BEING an 18 . 868 acre tract of land situated in the John
Steele Survey, Abstract No. 1381, City of Fort Worth,
Tarrant County, Texas and being a portion of a called 73 . 751
acre tract of land deeded to Weatherford Venture by Warranty
Deed recorded in Volume 8605, Page 328 of the Deed Records
of Tarrant County, Texas (DRTCT) , said 18 . 868 acre tract of
land being more particularly described by metes and bounds
as follows:
COMMENCING at a 3/4 inch iron rod found for the Northeast
corner of said Weatherford tract of land;
THENCE South 01 degree 01 minute 19 seconds East, with the
East line of said Weatherford tract of land, a distance of
2986.79 feet to a 5/8 inch iron rod with cap stamped "SCI"
set for the POINT OF BEGINNING and being in the West line of
Coventry Addition, Phase I, an addition to the City of Fort
Worth, Tarrant County as recorded in Cabinet A, Slide 5861
of the Plat Records of Tarrant County, Texas (PRTCT) ;
THENCE South 01 degree 01 minute 19 seconds East (Reference
Bearing) , with the East line of said Weatherford tract of
land and the West line of said Coventry Addition a distance
of 821 . 92 feet to a 5/8 inch iron rod with cap stamped "SCI"
set for corner, from which a 1/2 inch iron rod found for the
Southeast corner of said Weatherford tract of land and
Southwest corner of a tract of land deeded to Southeast
Investments, Inc. by Warranty Deed recorded in Volume 12935,
Page 282 (DRTCT) bears South 01 degree 01 minute 19 seconds
East a distance of 625. 08 feet;
THENCE South 89 degrees 54 minutes 14 seconds West,
departing the West line of said Coventry Addition and the
East line of said Weatherford tract of land a distance of
455. 06 feet to a 5/8 inch iron rod with cap stamped "SCI"
set for
corner;
THENCE South 01 degree 01 minute 19 seconds East, a distance
of 625. 08 feet to
a 5/8 inch iron rod with cap stamped "SCI" set for corner in
the South line of
Short Form Completion Agreement n'" -
Page 6 of 7
'i
said Weatherford tract of land and being in the North right-
of-way line of F.M.
Highway 1187 (100. 00' right-of-way) ;
THENCE South 89 degrees 54 minutes 14 seconds West, with the
South line of said Weatherford tract of land and the North
right-of-way line of said F.M. Highway 1187, a distance of
266. 03 feet to a 5/8 inch iron rod with cap stamped "SCI"
set for the Southwest corner of said Anderson tract of land
and being the Southeast corner of a tract of land deeded to
First Church of the Nazarene of Fort Worth by Extension of
Deed of Trust as recorded in Volume 7750, Page 1757 (DRTCT) ;
THENCE North 01 degree 02 minutes 00 seconds West, with the
West line of said Anderson tract of land and the East line
of said First Church of the Nazarene tract of land, passing
at 1451 . 14 feet the Northeast corner of said First Church of
the Nazarene tract of land and the Southeast corner of
Centennial Place Addition, an addition to the City of
Crowley, Tarrant County, Texas as
recorded in Cabinet A, Slide 6902 (PRTCT) , in all a
distance of 1705 . 35 feet to a 5/8 inch iron rod with cap
stamped "SCI" set for corner;
THENCE North 88 degrees 58 minutes 41 seconds East,
departing the West line of said Weatherford tract of land
and the East line of said Centennial Place Addition, a
distance of 256. 33 feet to a 5/8 inch iron rod with cap
stamped "SCI" set for corner;
THENCE South 01 degree 01 minute 19 seconds East, a
distance of 160 . 00 feet to a 5/8 inch iron rod with cap
stamped "SCI" set for corner;
THENCE South 88 degrees 58 minutes 41 seconds West, a
distance of 20 . 00 feet to a 5/8 inch iron rod with cap
stamped "SCI" set for corner;
THENCE South 01 degree 01 minute 19 seconds East, a
distance of 110 . 00 feet to a 5/8 inch iron rod with cap
stamped "SCI" set for corner;
THENCE North 88 degrees 58 minutes 41 seconds East, a
distance of 485. 00 feet to the POINT OF BEGINNING,
containing within these metes and bounds 18 . 868 acres or
821, 876 square feet of land, more or less .
Short Form Completion Agreement
Page 7 of 7 +6 ,q
' U L1