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Home My WebLink AboutContract 54334-A104/07/2021 3:00 pm CSC No. 54334-A1 FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 54334 A COMMUNITY FACILITIES AGREEMENT AND COMPLETION AGREEMENT BETWEEN THE CITY OF FORT WORTH AND HT HWY ll4 DEVELOPMENT LP This FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 54334 ("First Amendment") is made and entered into by and between the City of Fort Worth ("Cit�'), a home-rule municipal corporation of the state of Texas, and HT Hwy 114 Development LP (`�eveloper"), a Texas limited partnership. WHEREAS, the City and Developer entered into a Community Facilities Agreement for the construction of public infrastructure improvements for a Project known as Tradition Central Phase 1C ("CFA"); and WHEREAS, Developer provided a Completion Agreement as the financial guarantee for the Project ("Completion Agreement"); and WHEREAS, the CFA and the Completion Agreement are filed with the City Secretary as City Secretary Contract Number 54334; and WHEREAS, Developer desires to replace the Completion Agreement with development bonds as the fmancial guarantee far the remaming Improvements to be constructed pursuant to the CFA; NOW THEREFORE, City and Developer, acting herein by and through their duly authorized representatives, enter into the following agreement, which amends City Secretary Contract No. 54334 1. Section 5 of the CFA is amended to add the following at the end of the paragraph: Developer previously provided the City with a Completion Agreement as the financial guarantee far the CFA. Developer has delivered to the City a development bond in the amount of $62,512.00 guaranteeing Developer's obligation to complete construction of the streetlight Improvements and pay all contractors and material suppliers. Developer has also delivered to the City a development bond 'm the amount of $429,417.50, guaranteeing Developer's obligation to complete construction of all other remaming Improvements and pay all contractors and material suppliers. City and Developer agree that the Developer may replace the Completion Agreement with the development bonds as the financial guarantee for the remainmg Improvements. 2. The City and Developer agree that the Completion Agreement is terminated. City ofFort Worth, Te�s AmendmentNo. l to City Secretary ContractNo. 54334 Page 1 of3 OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX 3. Developer understands and agrees that execution of this First Amendment does not guarantee that Developer will be eligible for a reduction m the fmancial guarantee for street lights as set forth in Section 9-311 of the City Code. Developer further understands and agrees that the execution of this First Amendment and the termmation of the Completion Agreement does not release the hold on the fmal plat related to construction of the Community Facilities, and that the provisions contamed 'm Attachment 2 of the CFA relatmg to a fmal 'mspection of the Improvements, recording the final plat, and issuing building permits remain in fu11 force and effect. 0 a. All other provisions of City Secretary Contract Number 54334 which are not expressly amended herein, shall remain in full force and effect. b. All terms in this First Amendment that are capitalized, but not defined, shall have the meanings ascribed to those terms in City Secretary Contract Number 54334. [SIGNATURES ON FOLLOWING PAGES] City ofFort Worth, Te�s AmendmentNo. l to City Secretary ContractNo. 54334 Page 2 of3 IN TESTIMONY WHEREOF, the City and Developer have executed this First Amendment to be effective on the date signed by the City's Assistant City Manager. CITY OF FORT WORTH i i : � / ''��r Dana Burghdoff Assistant City Manager HT HWY ll4 DEVELOPMENT LP, a Texas limited partnership By: HT Hwy 114 Development LLC, a Delaware limited liability company, its general partner By: HT Hwy 114 LP, a Delaware limited partnership, its sole member Apr 5, 2021 Date: Recommended by: E✓elvn Rabe✓ts Nclyn Robcr[s jAprS, 2021li:41 CDTI Evelyn Roberts/Jennifer Ezernack Project Assistant P lanning and D e ve lopment Approved as to Form & Legality: Rlchard A. McCracken (Apr5, 2021 P:31 CDT) Richard A. McCracken Sr. Assistant City Attorney N/A M&C No. Date: Form 1295: N�A ATTEST: fov RonAl�l F Gonzales for Roriald P. Gon�alcs (Apr 6. 20L1 09:hS CDTI Mary J. Kayser City Secretary ,�,4�� ,q'� FORT �� p �F000000000�L d �. ° o � ,°� ��Id �O �� o a � a'� °�o 00 �`� �� EXASo.A"p City ofFort Worth, Te�s AmendmentNo. l to City Secretary ContractNo. 54334 Page 3 of3 By: Hines Hwy 114 LLC, a Delaware limited liability company, its general partner By: Hines Hwy 114 Associates LP, a Texas limited partnership, its sole member By: Hines Investment Management Holdings Limited P armership, a Texas limited partnership, its general partner Ro6eYf Wift�- �oh ��,«P;�,�rs,zoz„s,4��T, Name: Robert W. Witte Title: Senior Managing Director Contract Compliance Manager: By signing, I acknowledge that I am the person responsible for the monitormg and adininistration of this contract, including all performance and reporting requirements. G:c2�� 2G�G'(,� J ie Scarlett Morales (AprS, 2021 P22 CDT) Name: Janie S. Morales Title: Interim Development Manager OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX