HomeMy WebLinkAboutContract 49620 CITY SECRETARY
CONTRACT N0.
COMPLETION AGREEMENT—SELF FUNDED
This Completion Agreement("Agreement"), is made and entered into by and between the
City of Fort Worth, ("City") and , a Texas Limited LiabiliV Com an ,
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 16.786 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 16-133 or FS!Jjg�>; and
WHEREAS, the Developer and the City have entered into a Community Facilities
Agreement relating to the development, Rainbow Ridge,Phase 1B for Paving, Drainage. Water,
SOwer.etc, ("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 One MiU10. Sixty-nine Thousand Mine Hued.Eighty
two and 881100 Dollars ($1,069,982.88), hereinafter called the "Compietio unt".
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Notwithstanding the foregoing, it is acknowledged that the actual cos omple i
City of Fort Worth,Texas
Standard Completion Agreement—Self-F ded � FCE�VE� 'o
CFA Official Release Date: 07.01.2015 OFFICIAL RECORD �J SEP 13
Page lofl0
g CITY SECRETARY p � OFFORrWoR� a
"' SECRErARv
FT.WORTH,TX
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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. Completion 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.Westermanafortworthtexas.gov
Confirmation Number: 817-392-2677
and/or
CFA Division
Email: CFA@fortworthtexas.gov
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:
Rainbow Ridge,LLC
470tarroll Ave.
Southlake, Texas 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
Page 4 of 10
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
Page 5 of 10
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:
Rainbow Ridge, LLC
Assistant City Manager Name: Bruce Heikknten
Title: MxWer
Date: ��� '�7 f
Date:
Approved as to Form &Legality:
Richard A. McCracken
Assistant City Attorney
ATTEST:
SRT�2
ary J. CJ
City Secret
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Date: XA
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City of Fort Worth, Texas
Standard Completion Agreement—Self-Funded
CFA Official Release Date: 07.01.2015 OFFICIAL RECORD
Page 6 of 10 CITY SECRETARY'
FT. WORTH, TX
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 7of10
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
Page 9 of 10
PROPERTY DESCRIPTION
BEING a tract of land situated in the John H. Duncan Survey,Abstract No. 398, City of Fort Worth,
Tarrant County,Texas and being a part of that certain tract of land described as Tract 1 by deed to SJ
Rainbow Ridge Development, LP, recorded in Volume 16136, Page 148, Deed Records,Tarrant County,
Texas, said tract of land being more particularly described by metes and bounds as follows:
COMMENCING at a 5/8" iron rod with yellow cap stamped "DUNAWAY ASSOC. LP" (hereinafter called
5/8"YCIR)found in the west right-of-way line of Poynter Street(a 60'width public right-of-way)the
southeast corner of Lot 19, Block 17, Rainbow Ridge Addition, an addition to the City of Fort Worth
according to the plat recorded in Cabinet A,Slide 11408, Plat Records,Tarrant County,Texas,the north
line of Lot 1, Block 1,J.A. Hargrave Elementary School Addition, an addition to the City of Fort Worth
according to the plat recorded in County Clerk's Document Number D203301411, Plat Records,Tarrant
County,Texas;
North 89°56'47" West,with the south line of said Lot 19, Block 17, Rainbow Ridge Addition,the
north line of said Lot 1, Block 1,J.A. Hargrave Elementary School Addition, a distance of 65.00 feet
to a 5/8" YCIR found for the POINT OF BEGINNING of the herein described tract;
THENCE North 89°56'47"West, departing the south line of said Lot 19, Block 17, Rainbow Ridge
Addition, continuing with the north line of said Lot 1, Block 1,J.A. Hargrave Elementary School Addition,
a distance of 389.70 feet to a 5/8" iron rod with yellow cap stamped "CARTER& BURGESS" found for the
northwest corner of said Lot 1, Block 1,J.A. Hargrave Elementary School Addition;
THENCE South 19°04'48" West, departing the north line of said Lot 1, Block 1,J.A. Hargrave Elementary
School Addition, with the west line of said Lot 1, Block 1,J.A. Hargrave Elementary School Addition, a
distance of 211.72 feet to a point for the northeast corner of that certain tract of land described by deed
to Berean Baptist Church of Burleson, Inc., recorded in County Clerk's Document Number D215054369,
Deed Records,Tarrant County, Texas,for the beginning of a curve to the left having a central angle of
3"12'24", a radius of 966.88 feet and a chord bearing and distance of North 17°28'37" East-54.11 feet;
THENCE with said curve to the left in a southwesterly direction, an arc length of 54.11 feet to a point
from which a found W iron rod with yellow cap stamped "SWAIM 5550" bears North 81°48'38" East
0.28 feet;
THENCE South 89040'29" West,departing the west line of said Lot 1, Block 1,J.A. Hargrave Elementary
School Addition with the north line of said Berean Baptist Church of Burleson, Inc.tract,a distance of
473.31 feet to a point from which a found 1/2" iron rod with yellow cap stamped "SWAIM 5550" bears
South 66°50'42" East, a distance of 0.31 feet;
THENCE South 00°19'31" East,departing the north line of said Berean Baptist Church of Burleson, Inc.
tract, a distance of 110.80 feet to a point;
THENCE South 89°39'04" West, a distance of 580.00 feet to a point;
THENCE North 00°20'56"West,a distance of 38.13 feet to a 5/8"YCIR found for the southeast corner of
Lot 2, Block 15, Rainbow Ridge Addition, an addition to the City of Fort Worth according to the plat
recorded in Cabinet A,Slide 9451, Plat Records,Tarrant County,Texas;
THENCE North 29°02'10" East,with the most easterly line of said Rainbow Ridge Addition, a distance of
165.71 feet to a point;
THENCE North 60°57'50"West, continuing with the most easterly line of said Rainbow Ridge Addition, a
distance of 17.53 feet to a 5/8"YCIR found;
THENCE North 29°02'10" East,continuing with the most easterly line of said Rainbow Ridge Addition, a
distance of 110.00 feet to a point in the south line of Lot 14, Block 11,the most westerly south line of
said Rainbow Ridge Addition, recorded in Cabinet A, Slide 11408;
THENCE South 65°50'21" East,continuing with the most westerly south line of said Rainbow Ridge
Addition, a distance of 40.89 feet to a 5/8"YCIR found;
THENCE North 89°39'04" East,continuing with the most westerly south line of said Rainbow Ridge
Addition, a distance of 261.28 feet to a 5/8"YCIR found;
THENCE North 00°20'56"West, departing the most westerly south line of said Rainbow Ridge Addition, a
distance of 100.00 feet to a 5/8"YCIR found;
THENCE North 4439'04" East,a distance of 14.14 feet to a 5/8"YCIR found;
THENCE North 89°39'04" East, a distance of 4.12 feet to a 5/8"YCIR found;
THENCE North 00°20'56"West, a distance of 50.00 feet to a 5/8"YCIR found;
THENCE North 89'39'04" East,a distance of 95.02 feet to a point for the southeast corner of Lot 1, Block
13,said Rainbow Ridge Addition,from which a 5/8"YCIR found bears North 38°13'38" East, a distance of
0.30 feet;
THENCE with the southerly line of said Block 13, Rainbow Ridge Addition,the following courses and
distances:
North 29°02'10" East, a distance of 242.45 feet to a point;
North 44°21'22" East, a distance of 88.35 feet to a 5/8"YCIR found;
North 51'59"55" East, a distance of 250.00 feet to a 5/8"YCIR found;
North 56°25'35" East, a distance of 82.15 feet to a 5/8" YCIR found;
North 89°39'04" East, a distance of 359.52 feet to a 5/8"YCIR found;
North 61°52'30" East, a distance of 33.78 feet to a 5/8"YCIR found for the northwest corner of Lot
23,said Block 13, Rainbow Ridge Addition;
THENCE South 28°07'30" East,departing the southerly line of said Block 13, Rainbow Ridge Addition,a
distance of 296.48 feet to a 5/8" YCIR found for the southwest corner of Lot 24, Block 14, said Rainbow
Ridge Addition;
THENCE North 68°33'06" East, a distance of 29.03 feet to 5/8"YCIR found;
THENCE South 00°20'56" East, a distance of 306.61 feet to the POINT OF BEGINNING and containing a
calculated area of 730,882 square feet or 16.778 acres of land.
EXHIBIT B
APPROVED BUDGET
Section I
Water $220,153.60
Sewer $311,988.50
Sub-total $532,142.10
Section II
Interior Streets $423,003.56
Storm Drains $56,773.50
Sub-total $479,777.06
Section III
Street Lights $58,063.72
Sub-total $58,063.72
TOTAL $1,069,9$2.88
City of Fort Worth, Texas
Standard Completion Agreement—Self-Funded
CFA Official Release Date: 07.01.2015
Page 10 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.
N e of Emplo ee
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