HomeMy WebLinkAboutContract 43212 (2)CITY SECRETARY
CONTRACT NO.
COMPLETION AGREEMENT
This Completion Agreement ("Agreement"), is made and entered
into by and between the City of Fort Worth, ("City") and FW Mason
Heights, LP, 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 56.81 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-012-002 as approved by the City on
or before the date of this Agreement ("Plat"); and
WHEREAS, the Developer and the City have entered into a
Community Facilities Agreement (CFA #2012-019; M&C N/A) relating
to the development, Mason Heights for Water, Sewer, Paving, Storm
Drain and Street Lights ("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.
0'5-11-12 PO4:48 IN
OFFICIAL RECORD
f'ITY SECRETARY
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 Two Million Fifty -Six Thousand Three Hundred Eighty -
Seven Dollars & Zero Cents ($2,056,387.00), hereinafter called
the "Completion Amount". Notwithstanding the foregoing, it is
acknowledged that the actual costs of 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. 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.
COMPLETION AGREEMENT
SELF FUNDED
Revised January 2012
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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
P arties.
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
P roperty in the Plat Records of the county where the Property is
located. The purpose of the City retaining the final plat of the
P roperty as provided herein is to guarantee the Developer's
obligations under the CFA are completed.
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.
COMPLETION AGREEMENT
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Revised January 2012
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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:
and/or
City of Fort Worth
Planning & Development Department
1000 Throckmorton Street
Fort Worth, Texas 76102
Attention: CFA Division
David Schroeder, Development Manager
Email: David.Schroeder(Z1 fortworthgov.org
Confirmation Number: 817-392-2239
Attention: CFA Division
Jana Knight, Administrative Assistant
Email: Jana. Kni ght(u,fortworthgov. org
Confirmation Number: 817-392-2025
With a copy thereof addressed and delivered as follows:
City of Fort Worth
1000 Throckmorton Street
Fort Worth, Texas 76102
Attention: Douglas W. Black
Assistant City Attorney
Telecopy Number: 817-3 92-83 59
Confirmation Number: 817-392-7600
COMPLETION AGREEMENT
SELF FUNDED
Revised January 2012
Page 4 of 9
(ii) Notice to the Developer shall be addressed and delivered
as follows:
FW Mason Heights, LP
10000 N. Central Expressway #1500
Dallas, TX 75231
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.
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
COMPLETION AGREEMENT
SELF FUNDED
Revised January 2012
Page 5 of 9
ATT�F Ti•
Mary J. .,, t-
City Secretary
m&c : Aibt-
Date
Executed IN QUADRUPLET by the Parties hereto:
DEVELOPER:
FW Mason Heights, LP
By its General Partner
FW Mason Heights Genpar, LLC
Name
Title:
2cWa&hiAea -ies,
Date: Ze' 3Cbt
AP
VED AS TO FORM:
CITY OF FORT WORTH:
4771/$4.*•4 ;et-ar
Fernando Costa
Assistant City Manager
Date: C/1I/12
Douglas W. Black fOrtiq
Assistant City Attorney . v ���� k,,
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COMPLETION AGREEMENT
SELF FUNDED
Revised January 2012
Page 6 of 9
OF'ICIAL RECORD
CITY SECRETARY
Ft WORTH, TX
EXHIBIT A -
EXHIBIT B -
COMPLETION AGREEMENT
SELF FUNDED
Revised January 2012
Page 7 of 9
LIST OF EXHIBITS
LEGAL DESCRIPTION
APPROVED BUDGET
EXHIBIT A
LEGAL DESCRIPTION
COMPLETION AGREEMENT
SELF FUNDED
Revised January 2012
Page 8 of 9
OWNERS CERTIFICATE
STATE OF TEXAS §
COUNTY OF TARRANT §
WHEREAS, We, FW Mason Heights, L. P. , are the sole owners of all that certain tract
of land situated in the J. JUSTICE SURVEY, ABSTRACT NO. 859, in the City of Fort
Worth, Tarrant County, Texas, being a portion of Lot 1, Block 1 of Masonic Home and
School Addition, an addition to the City of Fort Worth, Tarrant County, Texas, according
to the Plat thereof recorded in Volume 388-102, Page 30, Plat Records, Tarrant County,
Texas, and being a portion of a tract of land described in deed to FW Mason Heights
L.P. as recorded in County Clerk's Document No. D207002963, Deed Records, Tarrant
County, Texas, and being more particularly described by metes and bounds as follows.
BEGINNING at a 1/2-inch iron rod with a plastic cap stamped 'WA!" set for comer on
the East line of a a tract of land described in deed to Fort Worth ISD as recorded in
Volume 2547, Page 198, Deed Records,; Tarrant County Texas, said point being the
most Westerly Southwest corner of Lot 1'4, Block 1, The Shoppes at Renaissance
S quare Addition, an addition to the City f Fort Worth, Tarrant County, Texas, according
to the Plat thereof recorded in County CI rk's instrument No. D211065015, Official
P ublic Records, Tarrant County, Texas;
THENCE North 89 deg 58 min 22 sec East, departing the East line of said Fort Worth
ISD tract, along the Southerly line of said The Shoppes at Renaissance Square
Addition, a distance of 699.18 feet to a 1/2-inch iron rod with plastic cap stamped "WAI"
set for corner;
THENCE South 00 deg 00 min 50 sec West departing the Southerly line of said The
S hoppes at Renaissance Square Additioi, a distance of 43.51 feet to a 1/2-inch iron rod
with plastic cap stamped "WAI' set for corner;
THENCE North 89 deg 50 min 36 sec E1 st, a distance of 999.74 feet to a 5/8-inch iron
rod with plastic cap stamped "Pate' found for corner on the Westerly line of a tract of
land described in deed to All Church Home for Children as recorded in County Clerk's
Instrument No D208023408, Deed Records, Tarrant County, Texas;
THENCE South 09 deg 10 min 31 sec East, along the Westerly line of said All Church
Home for Children tract, a distance of 8811 29 feet to a 1/2-inch iron rod with plastic cap
stamped "WAI' set for corner;
THENCE South 69 deg 30 min 09 sec Est a distance of 411.29 feet to a 5/8-inch iron
rod with plastic cap stamped "Pate" foun0 for corner on the West right-of-way line of
Wichita Street, a variable width right -of -Way;
THENCE South 07 deg 47 min 24 sec West along the west right-of-way line of said
Wichita Street, a distance of 232.48 feet to a 5/8-inch iron rod with plastic cap stamped
"Cheatham' found for comer, said point being the beginning of a curve to the left having
a radius of 651.42 feet, a central angle of 06 deg 56 min 54 sec, a chord bearing of
South 03 deg 51 min 06 sec West, and a chord length of 78.95 feet;
THENCE along continuing along said West right-of-way line of Wichita Street and said
curve to the left, an arc distance of 79.00 feet to a 1/2-inch iron rod set for corner;
THENCE South 00 deg 22 min 39 sec West, continuing along said West right-of-way
line of Wichita Street, a distance of 42 20 feet to a 5/8-inch iron rod with plastic cap
stamped "Cheatham" found for corner;
THENCE departing said West right-of-way line of Wichita Street, over and across said
Lot 1, Block 1, the following courses and i distances:
North 89 deg 52 min 36 sec West, a distance of 23.55 feet to a 1/2-inch iron rod
with a plastic cap stamped 'WAI" set for corner, said point being the beginning of a
curve to the right having a radius of 490.00 feet, a central angle of 11 deg 48 min
52 sec, a chord bearing of North 83 deg 58 min 10 sec West, and a chord length of
100.86 feet;
Along said curve to the right, an arc distance of 101.04 feet to a 1/2-inch iron rod
with a plastic cap stamped "WAI" set for corner;
N orth 78 deg 03 min 44 sec West, a distance of 177.33 feet to a 1/2-inch iron rod
with a plastic cap stamped "WAI" set for comer, said point being the beginning of a
curve to the left having a radius of 430.00 feet, a central angle of 11 deg 48 min 52
sec, a chord bearing of north 83 de o 58 min 10 sec West, and a chord length of
88.51 feet
Along said curve to the left, an arc distance of 88.67 feet to a feet to a 1/2-inch iron
rod with a plastic cap stamped "WAI" set for corner
N orth 89 deg 52 min 36 sec West, a distance of 1,050.03 feet to a 1/2-inch iron rod
with a plastic cap stamped "WAI" set for comer
North 00 deg 07 min 24 sec East, adistance of 355.38 feet to a 1/2-inch iron rod
with a plastic cap stamped "WAI' set for corner, said point being the beginning of a
curve to the left having a radius of 818.00 feet, a central angle of 89 deg 39 min 15
sec, a chord bearing of North 44 de0 42 min 13 sec West, and a chord length of
124 07 feet;
Along said curve to the left, an arc distance of 137.70 feet to a 1/2-inch iron rod
with a plastic cap stamped "WAI" set for corner
N orth 89 deg 31 min 51 sec West, a distance of 274.54 feet to a 1/2-inch iron rod
with a plastic cap stamped "WAI" set for corner;
South 00 deg 07 min 24 sec West, a distance of154.07 feet to a 1/2-Inch iron rod
with a plastic cap stamped "WAI" found for corner, said point being the Northeast
corner of a tract of land described irr deed to Chesapeake Land Development
Company, LLC as recorded in County Clerk's Instrument No D210246617, Official
Public Records, Tarrant County, Te<as;
THENCE 89 deg 52 min 36 sec West, along the North line of said Chesapeake tract, a
distance of 817.49 feet to a 1/2-inch ironjrod with a plastic cap stamped "WAI" found for
corner on the East right-of-way line Mitchell Boulevard (100-foot nght-of-way), said point
being the Northwest corner of said Chesapeake tract;
THENCE 00 deg 28 min 09 sec East, along said East right-of-way line Mitchell
Boulevard, a distance of 542.51 feet to a PK nail found for corner, said point being the
Southwest corner of said Fort Worth ISD' tract,
THENCE North 89 deg 58 min 22 sec East, departing said East right-of-way line
Mitchell Boulevard, along the South line of said Fort Worth ISD tract a distance of
422.17 feet to a 5/8-inch iron rod with a plastic cap stamped "CHEATHAM' found for the
Southeast corner of said Fort Worth ISD tract;
THENCE North 00 deg 00 min 22 sec East, along the East line of said Fort Worth ISD
tract a distance of 510.70 feet to the POINT OF BEGINNING.
CONTAINING within these metes and bounds 2,474,640 square feet or 56 810 acres of
land, more or less. Bearings shown hereon are based upon an on the ground survey
performed in the field May 27th, 2010 utiizing a G P.S (WGS84) measurement of N
00°28'09" E along the easterly right-of-way line of Mitchell Boulevard.
EXHIBIT B
COST LIST
Section I
Water $313,887.50
Sewer $322,996.00
Sub -total $636,883.50
Section II
Interior Streets
Storm Drains
Earthwork/Erosion Control
Sub -total
Section III
Street Lights
Sub -total
Section IV N/A
Street Signs
$760,239.50
$340,353.00
$ 99,701.00
$1,200,293.50
$219,210.00
$219,210.00
$0
TOTAL $2,056,387.00
COMPLETION AGREEMENT
SELF FUNDED
Revised January 2012
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