HomeMy WebLinkAboutContract 52663 CITY SECRETARY
�ONTRACT NO._ 590163
TRANSPORTATION IMPACT FEE CREDIT ASSIGNMENT
WHEREAS, Summer Sycamore I, Ltd., with offices at 2929 Carlisle St., Suite 365,
Dallas, Texas 75204 ("Assignor") made and entered into that certain Transportation Impact Fee
Credit Agreement with the City of Fort Worth, effective August 5, 2015, City Secretary Contract
No. 46919, as amended, (the "Credit Agreement"); and
WHEREAS, Assignor sold and conveyed to Summer Creek Station, LLC, a Texas
limited liability company with a mailing address at P.O. Box 93898, Southlake, Texas 76092 (the
"Assignee"), that certain property identified in Exhibit "A" ("Property") attached hereto and
incorporated herein; and
WHEREAS, Assignor, desires to transfer and assign to Assignee, a portion of the
Transportation Impact Fee Credits in the amount of $750,000.00 which are allocated to the
Property.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, Assignor and Assignee hereby agree as follows:
1. The Credit Agreement is incorporated herein by reference.
2. Transfer. Assignor does hereby transfer and assign to Assignee Transportation
Impact Fee Credits in the amount of $750,000.00 for the Property as set out in the Credit
Agreement.
3. Assignee's Assumption. By accepting this Assignment, Assignee agrees to
perform and to be bound to the extent of the assigned obligations of the Credit Agreement.
4. Agreement to Execute Documents. Assignor and Assignee hereby agree to execute
any and all documents to further evidence of this Assignment.
5. Applicable Law. This Assignment shall be governed by and construed in
accordance with the substantive laws of the State of Texas.
6. Counterparts. This Agreement may be executed in any number of counterparts
with the same effect as if all signing parties had signed the same document. All counterparts shall
be construed together and constitute the same instrument.
(REMAINDER OF PAGE INTENTIONALLY BLANK)
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OFFICIAL RECORD
CITY SECRETARY
Summer Creek Station TOD Transportation Impact Fee Credit Assignment Pik FT. WORTH,TX
Page 1 of 6
IN WITNESS WHEREOF, the parties have executed this Assignment as of and to be
effective as of U,6 I 'L.- , 2019.
ASSIGNOR: ASSIGNEE:
SUMMER SYCAMORE I, LTD. SUMMER CREEK STATION,LLC
By: 179D GP, LLC
Its: Manager
Steve Saxon (S
President LV
William E. Stonaker
Manager
CONSENT TO ASSIGNMENT:
CITY OF FORT WORTH Recommended:
Jestis j. G hft�+ �v(xv-ip �Ra&dle Harw •
Assistant City Man ger Planning and Development irector
Date:
Approved as to Form& Legality:
I - . —'10�(k
Douglas W. Black
Assistant City Attorney
M&C: None required
Attest: V �
® ` '
Mary Kayser °c ..........
City Secretary
OFFICIAL RECORD
1` CITY SECRETARY
Summer Creek Station TOD Transportation Impact Fee Credit Assignment I
Page 2 of 6 FT WORTH,TX
EXHIBIT A
Description of Property
EJCEiIBIT A
LEGAL DESCRIPTION
TRACT I
Being all that certain tit,tract or parcel of land situated in the John F.Heath Survey,Abstract Number
641,John Van Lent Survey,Abstract 1871,Puerta Tierra Irrigation Co.Survey,Abstract Number 1831
and the John W.Asbury Survey,Abstract Number52 in the City of Fort Worth,Tarrant County,Texas,
and being a part of a tract of land described as"Tract i"in a deed to Summer Sycamore 1,Ltd.,as
recorded in County Clerk's File Number D206233688 of the Deed Records,Tarrant County,Texas;the
subjecttract being more particularly described as follows;
BEGINNING at a'A'Iron rod found for the most Easterly Southeast corner of said'Tract 1'and being In
the West line of Summer Creek Drive and being the Northeast comer of Lot 12,Block J of Villages of
Sunset Pointe,an addition to the City of Fort Worth,Tarrant County,Texas as recorded in Cabinet A,
Slide 9270 of the Plat Records,Tarrant County,Texas;
Thence South 88 degrees 21 minutes 04 seconds West with the North line of said addition a distance of
802.32 feet to a capped 15 iron rod stamped"KAZ'set at an ell comer,
Thence South 06 degrees 57 minutes 14 seconds West with said addition a distance of 131.03 feet to at
capped'/"iron rod stamped'KAZ"set at the beginning of a curve to the right having a radius of 1918.05
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 347.09 feet to a capped V iron rod stamped'KAZ"set for an
all comer,
Thence North 89 degrees 58 minutes 58 seconds West with the a North line of said addition and a South
line of said'Tract 1"a distance of 672.75 feet to a capped W iron rod stamped"KAZ'sat for the
Southwest corner of said"Tract 1'and the Northwest comer of said addition and being in the East line of
Chisholm Trail Parkway;
Thence North 00 degrees 23 minutes 25 seconds West with the East line thereof a distance of 146.75
feet to a capped W 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 In the
East line of-said Chisholm Trail Parkway;
Thence North 11 degrees 35 minutes 01 seconds West with the West line of said'Tract 1'and the East
line of said Chisholm Trail Parkway a distance of 228.93 feet to a'X"cut set for the Northwest comer of
said'Tract 1'and being in the South line of Sycamore School Road and being 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,30.19 feet
Thence along said curve and South line of said Sycamore School Road an are distance of'30.20 feet to a
'X'cut set;
i
Thence North 62 degrees 38 minutes 05 seconds East with the Southerly line of said Sycamore School
Road a distance of 948.87 feet to a capped iron rod stamped'KHA"found in the Southerly line of said
Sycamore School Road and being the most Westety comer of a tract of land described in a deed to Wal-
Exhibit A to Special Warranty Deed
Page 1
Summer Creek Station TOD Transportation Impact Fee Credit Assignment-liep:�---
Page 3 of 6
l
Mart Real Estate Business Trust as recorded in County Clerk's File Number D214279788,Deed Records,
Tarrant County,Texas;
Thence South 27 degrees 19 minutes 30 seconds East with a Westerly line of said Wal-Mart trail a
distance otf.269.83 feet taa capped iron rod stamped"KHA"found at•the beginning of 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 are distance of 6.03#eetto a capped iron rod stamped'KHA"found at 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 and 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 for an all
corner,
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,distance of 267.39 feet to rapped iron rod
stamped`KHA"found for the Southwest comer of said Wal-Mart tract
Thence North 67 degrees-34 minutes-39 seconds East a distance of 361.52 feet to a capped iron rod
stamped"KHA"found for the Southeast comer of said Wal-Mart tract.and being in-the West line of said
Summer Creek Drive and-being at the beginning of'a curve to the right having a radlus'of 2160.68 feet
and a chord bearing and distance of South 05 degrees 47 minutes 56 seconds East,275.84 feel;
Thence along said curve an arc distance of 276.03 feet to-the PLACE OF BEGINNING and enclosing
26.27 acres of land more-or less.
1
TtzACT.17
:Being all that certain lot,tract or parcel of land situated in the John Van Lent Survey,Abstract Number
1871 in the City of Fort Worth,Tarrant County,Texas and being a part of a tract described In a deed to
Summer Sycamore I,Ltd.,as recorded in County Clerk's File Number D206233688 of the Deed Records,
Tarrant County,Texas;the subject tract being more particularly described as follows;
BEGINNING at a capped W iron rod stamped`KAZ'set for the West comer of the herein described tract
and being at a comer of a tract of land described In a deed to Wal-Mari.Real Estate Business Trust as
recorded in County Cleric's File Number 0214279788,Deed Records,Tarrant County,Texas,and tieing
in the South line of Sycamore School Road;
Thence North 62 degrees 33 minutes 49.seconds East with the Southerly line thereof a distance of 84.10
feet to a'/:'iron rod found at the beginning of a curve to the right having a radius of 1100.00 feet and a
chord bearing and distance of North 67 degrees 14 minutes 39 seconds East,175.90 feet;
p�,,,uhcr/►�
Summer Creek Station TOD Transportation Impact Fee Credit Assignment Now-l- -
Page 4 of 6
Thence along said curve and Southerly Una of Sycamore School Road an arc distance of 176.09 feet to a
capped%"iron rod stamped'KAZ"set for the.Northeast comer of the herein described tract
Thence South 22 degrees 25 minutes 43 seconds East a distance of 214.96 feet to a capped W iron rod
set for the most Easterly Southeast corner of the herein described tract;
Thence South 22 degrees 34 minutes 17 seconds West a distance of'14.14 feet to a capped%"iron rod
stamped'KAZ'set for the.most Southerly Southeast corner of the herein described tract and being at the
beginning of a curve to-the left having a radius of 1017.60 feet and a chord bearing and distance of South
68 degrees 45 minutes 56 seconds West,35.46 feet;
Thence along said curve an arc distance of 35.45 feet to capped V iron rod stamped"KAZ"set at the
beginning of a curve to the left having a radius of.617.50 feet and a chord gearing and distance of South
58 degrees 14 minutes 47 seconds West,131.41 feet
Thence along said curve an arc distance of 131.76 feet to a capped A'iron rod.stamped'KAZ7 set for the
most Southerly Southwest corner of the herein described tract
Thence North 78 degrees 44 minutes 45 seconds West a distance of 25.57 feet to a capped'A"iron rod
stamped'KAZ'set for the most Westerly Southwest comer of the'herein described tract;
Thence North 27 degrees 20 minutes 37 seconds West a distance of 225.08 feet to the PLACE OF
BEGINNING and.enclosing 1.32 acres of land more or less
Summer Creek Station TOD Transportation Impact Fee Credit Assignment 1p=:t'
Page 5 of 6
EXHIBIT B
Map of Property
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Summer Creek Station TOD Transportation Impact Fee Credit Assignment Imo^
Page 6 of 6
P
CITY SECRETARY
} CONTRACT NO._
TRANSPORTATION IMPACT FEE CREDIT AGREEMENT
THIS TRANSPORTATION IMPACT FEE CREDIT AGREEMENT (the
Agreement") is made and entered into effective as of the Effective Date (as defined
below),by and among THE CITY OF FORT WORTH,TEXAS (the"City"),a Texas home
rule municipal corporation,and Summer Sycamore I, Ltd.,a Texas Limited Partnership
authorized to do business in Texas(the"Owner") (the City and the Owner a"Party",and
collectively, the"Parties").
RECITALS
WHEREAS, the Owner is the owner of approximately 66.950 acres in Tarrant
County,Texas,as described by metes and bounds in Exhibit"A" (the"Property")located
within the corporate boundaries of the City. A map of the Property showing its location is
attached hereto as Exhibit "B"; and
WHEREAS, the Owner desires to proceed with development of the Property as
described or illustrated on the Development Plan, attached hereto as Exhibit"C",which
Development Plan identifies the intended land uses in relation to the layout of on-site and
off-site transportation facilities necessary for serving full development of the Property;and
WHEREAS,the City has adopted a Transportation Impact Fee program pursuant to
Texas Local Government Code Chapter 395, Ordinance No. 18083, under which charges
("impact fees") are imposed on new development for transportation facilities serving the
development and which are identified within the City's adopted transportation
improvements plan; and
WHEREAS, transportation impact fees must be collected and spent within the
service area(s) in which the new development is located; and
WHEREAS, the Property is located within service area Y; and
WHEREAS, the transportation facilities shown on the Development Plan are
identified within the City's adopted transportation improvements plan; and
WHEREAS,Ordinance No. 18083 Section 1-15 provides for credits against impact
fees for dedication or construction of transportation improvements shown on the adopted
transportation improvements plan; and
WHEREAS, Owner agrees to dedicate and construct the transportation
improvements shown on the Development Plan in exchange for credits against future
transportation impact fees; and
OFFICIAL RECORD
CITY SECRETARY
1-16 CREDIT AGREEMENT FT.WORTH TX Page 1 of 12
Summer Creek Station TOD 03-03-2015
WHEREAS,Owner will submit a final plat to the City for approval,for which the
dedication and construction of the transportation improvements shown on the
Development Plan will be complete; and
WHEREAS,based on the anticipated traffic impacts from the development,the City
and Owner contemplate the necessity for the construction of system facilities,which must
be credited against transportation impact fees otherwise due;and
WHEREAS, the City, in accordance with Chapter 395, has determined the
maximum transportation impact fees to be charged against new development within
service area Y to be$2,370 per service unit (vehicle-miles of demand); and
WHEREAS, the Owner has received approval for construction plans, executed
Community Facilities Agreements, dedicated rights-of-way, constructed roadway
improvements,and obtained City acceptance of the improvements for the following:
Sycamore School Rd&Summer Creek, DOE N .4480,Plans File No.W-2000
Summer Creek & Sycamore School Rd, DOE No. 4612, Plans File No. W-
1554; and
WHEREAS,the value of said right-of-way and roadway improvements agreed to
by the Owner and City is$2,091,714,which was memorializ*d by City Secretary Contract
36479, executed on January 10, 2008; and
WHEREAS, the approved Development Plan at the time the credit amount was
agreed to was Preliminary Plat PP-003-038.
NOW,THEREFORE,for and in consideration of the mutual agreements,covenants,
and conditions contained herein,and other good and valuable consideration,the City and
the Owner hereby covenant and agree as follows:
1. Recitals. The recitals contained in this Agreement are true and correct as of
the Effective Date and form the basis upon which the Parties negotiated and entered into
this Agreement.
2. TransQortation ImWoyemen-U>. Owner agrees to dedicate the rights-of-way
for and construct the system facilities identified in Exhibit"D",which is attached hereto
and incorporated herein by reference. For any transportation improvement which has
been dedicated or constructed by Owner on the Property and accepted by the City prior to
execution of this Agreement,the improvement shall be identified as completed on Exhibit
3. Credits. The Parties agree that the estimated value of the credits for each
transportation improvement,expressed in current dollars, shall be as set forth in Exhibit
1-16 CREDIT AGREEMENT Page 2 of 12
Summer Creek Station TOD 03-03-2015
"E". The value of credits associated with the improvements first shall be reduced by the
Schedule 2 impact fee associated with any lot for which a building permit has previously
been issued, and the net value of credits shown on Exhibit "E" shall be considered as
exact.
4. Phasing. The Parties acknowledge that, where it is anticipated that the
project shall be developed in phases, the anticipated construction of improvements by
phase shall be as depicted in Exhibit "D", which is attached hereto and incorporated
herein by reference.
5. Allocation of Credits by Phase. The general allocation of credits to each
phase of the development shall be as shown on Exhibit"F",which is attached hereto and
incorporated herein by reference. The Parties agree that the credits identified in this
Agreement shall not be deemed to have been created until the system facility for which
credit is given shall either be guaranteed through an executed Community Facilities
Agreement or approved and accepted by the City. The Parties further agree that,prior to
the application of a credit against transportation impact fees otherwise due for any unit of
development;the following events shall take place:
(a) The Parties have entered into a Community Facilities Agreement for
the dedication or construction of the system facility;
(b) The number of credits resulting from such improvement has been
valued; and
(c) Concurrent with final plat approval, a credit allocation shall be
provided by the developer for the phase of development to which the credit is to be
applied,which allocation may either assign the credit,expressed in dollars,to each finally
platted lot or may create a credit-pool to be utilized by that phase of development.
(d) To the extent that any credit balance remains after allocation of credits
this Agreement may be amended to allocate such unused credits to subsequent phases of
the development.
6. Proportionality. Owner agrees that the obligation to dedicate and construct
improvements to serve the development shown on the Concept Plan, as provided in
section 2 of this Agreement,and the credits against transportation impact fees attributed to
such contributions and generally allocated to phases of the development herein, are
roughly proportionate to the nature and extent of the development shown on the Concept
Plan.
7. Term and Effective Date. The initial term of this Agreement shall be ten(10)
years from its Effective Date,in accordance with Ordinance No. 18083,which shall be the
date on which the last party executes the Agreement.
1-16 CREDIT AGREEMENT Page 3 of 12
Summer Creek Station TOD 03-03-2015
8. Agreement to Run with the Land. Owner shall have the right to assign this
Agreement to any person or entity ("Owner's Assignee") with the written consent of the
City, provided: (a) the assignment is in writing executed by the Owner and its assignee;
and (b) the assignment incorporates this Agreement by reference and binds the Owner's
Assignee to perform (to the extent of the obligations assigned) in accordance with this
Agreement. Each Owner's Assignee shall become a Party to this Agreement upon the
execution of such assignment. In no event may this Agreement be construed to authorize
assignment of any credits attributable to a system facility to be dedicated or constructed
hereunder for use outside the boundaries of the Property.
9. Amendment. This Agreement shall not be modified or amended except as
follows:
(a) Any amendment or modification to this A eement or any Exhibit or
schedule hereto shall be in writing and signet t�by the Parties.
(b) Any revision, amendment, or modification to this Agreement, the
Development Plan,or any Exhibit or schedule thereto,shall become effective
on the date executed by the Parties or, as applicable, upon the date of
approval by the City Council or designated city official.
10. Exhibits. The exhibits attached to this Agreement are incorporated as part of
this Agreement for all purposes as if set forth in full in the body of this Agreement.
(Remainder of Page Intentionally Left Blank)
1-16 CREDIT AGREEMENT Page 4 of 12
Summer Creek Station TOD 03-03-2015
IN WITNESS WHEREOF, the undersigned parties have executed this Agreement to be
effective as of the date subscribed by the City's Assistant City Manager.
CITY OF FORT WORTH,TEXAS OWNER
Summer Sycamore 1,Ltd.
a Texas Limited Partnership
Fernando Costa _
Assistant City Manager Steve Saxon
President
Date: .8 S
Date: wyr ?-to f!—
Recommended By.
gdle H#mningood
Director, and Development
Approved as to Form and Legality:
Douglas Black
Assistant City Attorney
M&C:None required
ATTEST:
Q� FOR��
A4ek /,.
qM: J.Ka,
seroo cgs OFFICIAL RECORD
City Secretary jam°° 000 CITY SECRETARY
FXAS
FT.WORTH, TX
1-16 CREDIT AGREEMENT Page 5 of 12
Summer Creek Station TOD 03-03-2015
EXHIBIT LIST
"A" Description of the Property
"B" Map of Property
"C" Development Plan
"D" Transportation Improvements
"E" Credits Against Transportation Impact Fees
"F" Allocation of Credits
1-16 CREDIT AGREEMENT Page 6 of 12
Summer Creek Station TOD 03-03-2015
EXHIBIT"A"
THE PROPERTY
LEGAL DESCRIPTION OF
66.950 ACRES OF LAND
TRACT 1:BEING a 39.874 acre tract of land located in the J.F. Heath Survey,Abstract No. 641,the
T.&P.R.R.Survey,Abstract No. 1576,and the J.Valent Survey,Abstract No. 1871, in the City of Fort
Worth,Tarrant County,Texas,and being a portion of that certain tract of land described in a deed to
Summer Sycamore I,LTD,a Texas Limited Partnership,recorded in D207385663(called Tract 1),of the
Deed Records of Tarrant County,Texas save and except all that certain tract of land described as Parcel
No. 114-PT1 as described below,
TRACT 2:BEING a 36.01 acre tract of land situated in the J.Heath Survey,Abstract No.641,J.Asbury
Survey,Abstract No. 52,A.H. Hodge Survey,Abstract No. 1789,J. Valent Survey,Abstract No. 1871,
and the P.T.I.R.R. Survey,Abstract No. 1831,in the City of Fort Worth,Tarrant County,Texas,and
being a portion of a tract of land conveyed to Summer Sycamore I,LTD,a Texas Limited Partnership,
recorded in D206233688(called Tract 2), of the Deed Records of Tarrant County,Texas save and except
all that certain tract of land described as Parcel No. l 14-PT2 and Parcel No. 129-PT2 as described below.
Save and Except the following tracts of land described as follows:
a. All that certain tract of land described as PARCEL No. 114-PT1 (5.363 acres)to the City of Fort
Worth,according to the plat of State Highway 121 Right-of-Way recorded in County Clerk's
Document No. ROW CSJ: 0504-02-021,Deed Records of Tarrant County,Texas.
b. All that certain tract of land described as PARCEL No. 114-PT2 (0.035 acres)to the City of Fort
Worth,according to the plat of State Highway 121 Right-of-Way recorded in County Clerk's
Document No. ROW CSJ:0504-02-021,Deed Records of Tarrant County,Texas.
c. All that certain tract of land described as PARCEL No. 129-PT2(3.536 acres)to the City of Fort
Worth,according to the plat of State Highway 121 Right-of-Way recorded in County Clerk's
Document No.ROW CSJ: 0504-02-021,Deed Records of Tarrant County,Texas.
For a net total of 66.950 acres of land.
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EXHIBIT D
Transportation Improvements
SUMMER CREEK
STATION CREDIT
AGREEMENT
Developer StAk Roads' t
Accepted
0 gale for credit Against
TranportAm Impact Fees
Fogy RTHW is I
I
DOE ASSOCIATED
NUMBER IMPROVEMENTS
1480 Summer Creek Or Approx.1W s"h of Meidaw kaliey Or to Cokanbus Tral
4480 %%more School Rd Cok"ut TrA to Summer Creek P d
1-16 CREDIT AGREEMENT Page 10 of 12
Summer Creek Station TOD 03-03-2015
EXHIBIT E
Credits Against Transportation Impact Fees
Net Credit
Value of Capacity Provided
DOE 4480-Sycamore School Rd &Summer Creek $ 1,971,714.00
DOE 4612-Summer Creek Rd &Sycamore School Rd $ 120,000.00
Net Credit Available $ 2,091,714.00
1-16 CREDIT AGREEMENT Page 11 of 12
Summer Creek Station TOD 03-03-2015
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`sir. • , ,
CITY SECRETAW
CONTRACT NO.
AMENDMENT NO. 1
TO CITY SECRETARY CONTRACT NO.46919
--FAE OF TEXAS §
§ CITY SECRETARY CONTRACT NO.46919
§
COUNTY OF TARRANT §
WHEREAS, the City of Fort Worth ("City") and Summer Sycamore 1, Ltd. ("Owner')
made and entered into a Transportation Impact Fee Credit Agreement, City Secretary Contract No.
46919(the"Agreement"); and
WHEREAS,it has become necessary to execute this Amendment No. 1 to said Agreement
to replace Exhibit"F"with the Exhibit"F-I"attached to this Amendment.
NOW THEREFORE, City and Owner, acting herein by and through their duly authorized
representatives,enter into the following agreement that amends the Agreement:
1.
Exhibit"F"to the Agreement shall be amended to include the Exhibit"F-I"attached hereto
and incorporated herein by this reference.
2.
All other provisions of the Agreement which are not expressly amended herein shall
remain in full force and effect.
(Remainder of Page Intentionally Left Blank)
OFFICIAL, RECORD
CITY SECRETARY
FT WORTH, TX
1-16 CREDIT AGREEMENT AMENDMENT Page 1 of 2
Summer Sycamore-CA-15-XXX
IN WITNESS WHEREOF,the undersigned parties have executed this Agreement
as of the J&day of J�,eob.4ge 2015.
CITY OF FORT WORTH,TEXAS OV1A'NER
Summer Sycamore I, Ltd.
a Texas Limited Partnership
By:Legacy Capital Partners II Ltd.
its general partner
By:Legacy Capital Company II,
Fernando Costa its general partner
Assistant City Manager
Date: ,9�LI5 By.
-- Steven D. Saxon
President
Recommended By: Date:
andle Harwood
Director,Planning and Development
Approved as to Form and Legality:
-0—2-3 a�- .W 0 W-!_,-
Douglas Black
Assistant City Attorney
M&C:None required
FORM
ATTEST:
F- S=
���OQooa"auo°°��
s
Mary J. a OFFICIAL RECORD
City Secretary CITY SECRETARY
FT.WORTH,TX
1-16 CREDIT AGREEMENT AMENDMENT Page 2 of 2
Summer Sycamore—CA-15-XXX
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AMENDMENT NO.2
TO CITY SECRETARY CONTRACT NO.46919
STATE OF TEXAS §
§ CITY SECRETARY CONTRACT NO. 019
COUNTY OF TARRANT §
WHEREAS,the City of Fort Worth("City")and Summer Sycamore I,Ltd.("Owneel made
and entered into a Transportation Impact Fee Credit Agreement,City Secretary Contract:No.46919
(the"Agreement');and
WHEREAS, Amendment 1 (City Secretary Contract No. 46919-AI) to reallocate certain
credits was executed on September 18,2015;and
WHEREAS,it has bexome necessary to execute this Amendment No.2 to said Agreement to
reallocate certain credits and replace Exhibit'IF-I"with Exhibit"F-2"attached to this Amendment.
NOW THEREFORE, City and Owner, acting herein by and through their duly authorized
representatives,enter into the following agreement that amends the Agreement:
1.
Exhibit"F-I"to the Agreement shall be replaced with the Exhibit"F-2"attached hereto and
incorporated herein by this reference.
2.
All other provisions of the Agreement which are not expressly amended herein shall
remain in full force and effect.
(Remainder of Page Intentionally Left Blank)
OFFICIAL RECORD
CITY SECRETARY
FT.WORTH,TX
Transportation Impact Fee Credit Agreement Amendment 2 Page 1 of 3
Summer Creek Station TOD-CA-15-M
IN WITNESS WHEREOF, the undersigned parties have executed this Agreement to be
effective as of the date subscribed by the City's designated Assistant City Manager.
CITY OF FORT WORTH,TEXAS
OWNER
summer sycamore I,Ltd.
a Texas invited Partnership
DOW
Assistant City Manager J
Steve Saxon
Date: -76President
Date: ?,S
Recommended By:
Randle Harwood
Director,Planning and Development
Approved as to Form and Legality: Contract Co;nplianee Manager:
By signing, I acknowledge that I am the
person responsible for the monitoring and
_ administratign of this contract, including
&fflgkEBjZC -bkn $/"1`0� ensuring all performance and reporting
Assistant City Attorney requirements
M&C:None required
ATTEST:
°F.FORfi .
0
Mary J. Ly4 '* 1
City SecretaryS OFFICIAL RECORD
CITY SECRETARY
Transportation Impact Fee Credit Agreement Amendment 2 FT. �3rX
Summer Creek Station TOD-CA-15-002
EXHIBIT F-2
Allocation of Credits
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Transportation Impact Fee Credit Agreement Amendment 2 Page 3 of 3
Summer Creek Station TOD-CA-15-W2