HomeMy WebLinkAboutContract 49184 CITY SECRETARY
CONTRACT NO.
COMPLETION AGREEMENT— SELF FUNDED
This Completion Agreement("Agreement"), is made and entered into by and between the
City of Fort Worth, ("City") and Summer Creek Station LLC, a Texas Limited Liability
Company, authorized to do business in Texas, ("Developer"), effective as of the last date
executed by a Party hereto. The City and the Developer may collectively be called the "Parties".
WITNESSETH:
WHEREAS, the Developer owns that certain tract of real property that contains
approximately 25.27 acres of land located in the City, the legal description of which tract of real
property is marked Exhibit "A" —Legal Description, attached hereto and incorporated herein for
all purposes, ("Property"); and
WHEREAS, the Developer intends to develop the Property as an addition to the City
through plat FP -15-125 or FS ; and
WHEREAS, the Developer and the City have entered into a Community Facilities
Agreement relating to the development, Summer Creek Station Retail Sycamore School Rd &
Summer Creek Dr for Water, Sewer, and Paving("Improvements"); and
WHEREAS, the City has required certain assurances that the Developer will cause to be
constructed to City standards the Improvements pursuant to the Community Facilities
Agreement; and
WHEREAS, the Parties desire to set forth the terms and conditions of such
accommodations as are described above.
NOW, THEREFORE, for and in consideration of the mutual covenants and agreements
hereinafter set forth, it is hereby agreed by and between City and Developer as follows:
1. Recitals. The foregoing recitals are true, correct and complete and constitute the basis for
this Agreement and they are incorporated into this Agreement for all purposes.
2. The Completion Amount. The City and the Developer agree that the Hard Costs (as
shown on Exhibit `B") required to complete the Community Facilities in the aggregate
should not exceed the sum of Four Hundred Six Thousand Seven Hundred Fifty One
Dollars and 16 Cents Dollars ($406,751.16), hereinafter called the "Completion
Amount". Notwithstanding the foregoing, it is acknowledged that the
City of Fort Worth, Texas
Standard Completion Agreement—Self-Funde i�— .`V1
CFA Official Release Date: 07.01.2015 OFFICIAL RECORD c `!;y "I to
Page I of 10
CITY SECRETARY qF ?O,j� 0
f.WORTHS K c9�� ati
completion of the Community Facilities may vary as a result of change orders agreed to
by the Parties, but such variances for the purposes of this Agreement shall not affect the
Completion Amount as used herein. City hereby waives the requirement for developer to
deposit a financial guarantee of 100% of the Hard Costs under the CFA Policy.
3. Complf;tion by the Developer. The Developer agrees to complete the Community
Facilities and pay all Hard Costs in accordance with City standards, the CFA, the Plat,
and the Plans as approved by the City. For the purposes of this Agreement, the
development of the Property shall be deemed complete upon acceptance by the City of
the Community Facilities pursuant to Section 6, hereof.
4. Satisfaction of the City Requirements. The City agrees that the assurances and covenants
contained in this Agreement satisfy all requirements of the City with respect to
Developer's Financial Guarantee, as described in the CFA Policy, or other requirements
for security in connection with the development of the Property and the completion of the
Community Facilities that are contained in the CFA or in any other agreement relating
thereto, and the City hereby accepts the assurances and covenants contained herein in lieu
thereof. To the extent the CFA irreconcilably conflicts with this Agreement, the
provisions of this Agreement shall control.
5. Termination. This Agreement shall terminate upon the earlier to occur of the following:
(a) acceptance by the City of the Community Facilities; or (b) mutual written agreement
of the Parties.
6. Final Plat. The Parties acknowledge and agree that the City shall hold the final plat of the
Property until the Community Facilities are completed and accepted by the City and all
Hard Costs contractors have been paid, less retainage. Upon acceptance by the City and
receipt of evidence from the Developer showing that all Hard Costs contractors have
been paid, including but not necessarily limited to lien waivers and bills paid affidavits,
the City shall within a reasonable time file the final plat for the Property in the Plat
Records of the county where the Property is located. The purpose of the City retaining
the final plat of the Property as provided herein is to guarantee the Developer's
obligations under the CFA are completed.
City of Fort Worth, Texas
Standard Completion Agreement— Self-Funded
CFA Official Release Date: 07.01.2015
Page 2 of 10
7. Construction Contracts. Developer agrees to include in each Construction contract that it
enters into for the completion of the Community Facilities the following:
A. A statement that the City is not holding any security to guarantee any payment for
work performed on the Community Facilities;
B. A statement that the Property is private property and that same may be subject to
mechanic's and materialman'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
D. A requirement that each contractor contracting with the Developer include in each
subcontract the statements contained in(a), (b) and (c) above.
8. Miscellaneous.
A. Non-Assignment of Agreement. This Agreement may not be assigned by any of the
Parties without the prior written consent of all the other Parties.
B. Notice. Any notice required or permitted to be delivered under this Agreement shall
be deemed received on actual receipt by the appropriate party at the following
addresses:
(i) Notice to the City shall be addressed and delivered as follows:
City of Fort Worth
Planning&Development Department
1000 Throckmorton Street
Fort Worth, Texas 76102
Attention: CFA Division
Julie Westerman, Development Manager
Email: Julie.Westermankfortworthtexas.gov
Confirmation Number: 817-392-2677
and/or
CFA Division
Email: CFA a,fortworthtexas. ov
Confirmation Number: 817-392-2025
With a copy thereof addressed and delivered as follows:
City of Fort Worth, Texas
Standard Completion Agreement— Self-Funded
CFA Official Release Date: 07.01.2015
Page 3 of 10
City of Fort Worth
1000 Throckmorton Street
Fort Worth, Texas 76102
Attention: Douglas W. Black
Assistant City Attorney
Confirmation Number: 817-392-7615
(ii) Notice to the Developer shall be addressed and delivered as follows:
Summer Creek Station LLC
PO Box 93898
Southlake,TX 76092
A party may change its address for notice upon prior written notice to the other
parties pursuant to the terms hereof.
C. Texas Law to Apply. This Agreement shall be construed under and in accordance
with the laws of the State of Texas.
D. Parties Bound. This Agreement shall be binding upon and inure to the benefit of the
Parties and their respective legal representatives, successors and assigns.
E. Legal Construction. In case any one or more of the provisions contained in this
Agreement shall for any reason is held to be invalid, illegal, or unenforceable in any
respect, such invalidity, illegality, or unenforceability shall not affect any other
provision of this Agreement, and this Agreement shall be construed as if such invalid,
illegal, or unenforceable provision had never been contained in this Agreement.
F. Prior Agreements Superseded. This Agreement constitutes the sole and only
agreement of the Parties with respect to the subject matter hereof and supersedes any
prior understandings or written or oral agreements among the Parties concerning the
subject matter hereof.
G. Amendment. This Agreement may only be amended by a written instrument
executed by all of the Parties to this Agreement.
City of Fort Worth, Texas
Standard Completion Agreement—Self-Funded
CFA Official Release Date: 07.01.2015
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H. Headings. The headings that are used in this Agreement are used for reference and
convenience purposes only and do not constitute substantive matters to be considered
in construing the terms and provisions of this Agreement.
(REMAINDER OF PAGE INTENTIONALLY LEFT BLANK)
City of Fort Worth, Texas
Standard Completion Agreement— Self-Funded
CFA Official Release Date: 07.01.2015
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Executed in quadruplicate in each entity's respective name by its duly authorized signatories
effective as of the date executed by the City's City Manager or his/her designee.
CITY OF FORT WORTH: DEVELOPER:
Summer Creek Station LLC
Assistant City Manager Name: William E Stonaker
Title: Manager
Date: �l 3 - /?
Date: 4i2l �) �6
Approved as to Form &Legality:
Richard A. McCracken t&/Z J(7
Assistant City Attorney
ATTEST:
OF
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City Secretar
Date:
OFFICIAL RF-CORD
City of Fort Worth, Texas CITY SECRETARY
Standard Completion Agreement—Self-Funded FT'WORTH]TX
CFA Official Release Date: 07.01.2015
Page 6 of 10
Contract Compliance Manager:
By signing I acknowledge that I am the person responsible
for the monitoring and administration of this contract, including
ensuring all performance and reporting requirements.
ame of Employee
Title
❑ This form is N/A as No City Funds are associated with this Contract
Janie Morales /
Printed Name Signature
LIST OF EXHIBITS
ATTACHMENT"1"-CHANGES TO STANDARD AGREEMENT
EXHIBIT A - LEGAL DESCRIPTION
EXHIBIT B - APPROVED BUDGET
City of Fort Worth, Texas
Standard Completion Agreement—Self-Funded
CFA Official Release Date: 07.01.2015
Page 7 of 10
ATTACHMENT "1"
Changes to Standard Agreement
Self-Funded Completion Agreement
NONE
City of Fort Worth, Texas
Standard Completion Agreement—Self-Funded
CFA Official Release Date: 07.01.2015
Page 8 of 10
EXHIBIT A
LEGAL DESCRIPTION
<Legal Description>
City of Fort Worth, Texas
Standard Completion Agreement—Self-Funded
CFA Official Release Date: 07.01.2015
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Being all that certain tract of land situated in the J.F. Heath Survey, Abstract Number
641, J. Asbury Survey, Abstract Number 52, J. Van Lent Survey, Abstract Number
1871, and the P.T.I.R.R. Survey, Abstract Number 1831, in the City of Fort Worth,
Tarrant County, Texas and being a part of a called 36.01 acre tract of land described in
the deed from WB 358 PARTNERS, L.P. to Summer Sycamore I, LTD, as recorded in
Document Number D206233688, Official Public Records of said County; the subject
tract being more particularly described as follows:
BEGINNING at a Y/" iron rod found in the West line of Summer Creek Road for the
Northeast corner of Lot 12, Block J, of Villages of Sunshine Pointe, an addition to said
City, according to the plat thereof recorded in Cabinet A, Slide 9270, Plat Records of
said County, and being the East Southeast corner of the herein described tract;
Thence South 88 degrees 21 minutes 04 seconds West with the North line of said Block
J a distance of 802.32 feet to a capped iron rod stamped "KAZ" set for the Northwest
corner of Lot 23, of said Block J;
Thence South 06 degrees 57 minutes 14 seconds West with said Block J, a distance of
131.03 feet to a capped iron rod stamped "KAZ" set at the beginning of a curve to the
right having a radius of 1918.05 feet, and a chord bearing and distance of South 10
degrees 04 minutes 51 seconds West, 346.62 feet;
Thence along said curve an arc distance of 347.10 feet to a capped iron rod stamped
"KAZ" set for the Northeast corner of Lot 33 of said Block J;
Thence North 89 degrees 58 minutes 58 seconds West with the North line of said Block
J a distance of 672.75 feet to a capped iron rod stamped "KAZ" set at the Northwest
corner of Lot 45 of said Block J for the Southwest corner of the herein described tract
and the Southeast corner of a tract of land described in the deed to North Texas
Tollway Authority, as recorded in Document Number D212091729, of said Official
Public Records;
Thence North 00 degrees 23 minutes 25 seconds West with said common line a
distance of 146.75 feet to a capped iron rod stamped "KAZ" set at the beginning of a
curve to the left having a radius of 1957.86 feet, and a chord bearing and distance of
North 06 degrees 08 minutes 44 seconds West, 423.65 feet;
Thence along said curve an arc distance of 424.48 feet to a capped iron rod stamped
"KAZ" set;
Thence North 11 degrees 35 minutes 01 seconds West a distance of 228.93 feet to an
"X" cut set in the South line of Sycamore School Road for the Northwest corner of the
herein described tract, at the beginning of a curve to the left having a radius of 1265.00
feet, and a chord bearing and distance of North 63 degrees 18 minutes 29 seconds
East, 30.20 feet;
Thence along said curve with said common line an arc distance of 30.20 feet to an "X"
cut set;
Thence North 62 degrees 38 minutes 05 seconds East with said common line a
distance of 948.87 feet to a capped iron rod stamped "KHA" found;
Thence South 27 degrees 19 minutes 30 seconds East a distance of 269.83 feet to a
capped iron rod stamped "KHA" found at the beginning of a curve to the left having a
radius of 720.00 feet, and a chord bearing and distance of North 47 degrees 40 minutes
49 seconds East, 6.03 feet;
Thence along said curve an arc distance of 6.03 feet to the beginning of a curve to the
right having a radius of 500.00 feet, and a chord bearing and distance of North 55
degrees 51 minutes 46 seconds East, 168.02 feet;
Thence along said curve an arc distance of 168.82 feet to a capped iron rod stamped
"KHA found at the beginning of a curve to the right having a radius of 1000.00 feet, and
a chord bearing and distance of North 66 degrees 03 minutes 02 seconds East, 9.85
feet;
Thence along said curve an arc distance of 9.85 feet to a capped iron rod stamped
"KHA" found;
Thence South 22 degrees 25 minutes 57 seconds East a distance of 222.25 feet to a
capped iron rod stamped "KHA" found;
Thence South 67 degrees 32 minutes 24 seconds West a distance of 55.56 feet to a
capped iron rod stamped "KHA" found;
Thence South 22 degrees 25 minutes 44 seconds East a distanc3e of 267.39 feet to a
capped iron rod stamped "KHA" found;
Thence North 67 degrees 34 minutes 39 seconds East a distance of 361.52 feet to a
capped iron rod stamped "KHA"found in the West line of said Summer Creek Road at
the beginning of a curve to the right having a radius of 2160.66 feet, and a chord
bearing and distance of South 05 degrees 47 minutes 56 seconds East, 275.85 feet;
Thence along said curve with said Road an arc distance of 276.03 feet to the PLACE
OF BEGINNING and enclosing 25.27 acres of land more or less.
EXHIBIT B
APPROVED BUDGET
Section I
Water $191,584.00
Sewer $168,670.00
Sub-total $360,254.00
Section II
Interior Streets $46,497.16
Storm Drains $0.00
Sub-total $46,497.16
Section III
Street Lights $0.00
Sub-total $0.00
TOTAL $406,751.16
City of Fort Worth, Texas
Standard Completion Agreement—Self-Funded
CFA Official Release Date: 07.01.2015
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