HomeMy WebLinkAboutContract 55123-A1 Oct 29,2021 CSC No.55123-A1
FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 55123
A COMMUNITY FACILITIES AGREEMENT AND COMPLETION AGREEMENT
BETWEEN THE CITY OF FORT WORTH
MERITAGE HOMES OF TEXAS,LLC
This FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER
55123 ("First Amendment") is made and entered into by and between the City of Fort Worth
("City"), a home-rule municipal corporation of the state of Texas, Meritage Homes of Texas,
LLC ("Developer"), an Arizona limited liability company.
WHEREAS, the City and Developer entered into a Community Facilities Agreement
for the construction of public infrastructure improvements for a Project known as Northstar
Section 2 Phase 2 ("CFA"); and
WHEREAS, City and Developer executed 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 55123; and
WHEREAS, Developer desires to replace the Completion Agreement with a
development bond as the financial guarantee for remaining 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. 55123:
1.
Section 5 of the CFA is amended to add the following paragraph:
Developer has delivered to the City a Development Bond in the amount of
$831,707.73, guaranteeing Developer's obligation to complete construction of the
remaining Improvements and pay all contractors and material suppliers. City and
Developer agree that the Developer may replace the Completion Agreement with
the Development Bond as the financial guarantee for the remaining Improvements.
2.
The Completion Agreement is terminated.
3.
a. All other provisions of City Secretary Contract Number 55123 which are not expressly
amended herein, shall remain in full force and effect.
OFFICIAL RECORD
City of Fort Worth,Texas CITY SECRETARY
Amendment No. 1 to City Secretary Contract No. 55123 FT.WORTH, TX
Page 1 of 2
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 55123.
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 DEVELOPER
Meritage Homes of Texas, LLC
Dana Bu✓cih�loff
Dana Burghdoff ct 28,202111:15 CDT) David Aughinb h(Oct 26,202118:06 CDT)
Dana Burghdoff Name: David Aughinbaugh
Assistant City Manager Title: Vice President Land
Date: Oct 28, 2021 Date: Oct 26, 2021
Recommended by:
gib
Evelyn Roberts/Jennifer Ezernack
Project Assistant
Planning and Development
Approved as to Form & Legality:
�fL
Ric�A.McCracken(Oct 27,202109:40 CDT)
Richard A. McCracken
Sr. Assistant City Attorney
M&C No. Contract Compliance Manager:
Date: Oct 27,2021 By signing, I acknowledge that I am the
Form 1295: person responsible for the monitoring and
administration of this contract, including all
a FORT�a� performance and reporting requirements.
ATTEST: Oh°°°°°°°°°!y
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Ronald P. Gonzales ��'F o �d Name: Janie Scarlett Morales
Acting City Secretary �4�nEXAsoap Title: Development Manager
OFFICIAL RECORD
CITY SECRETARY
City of Fort Worth,Texas FT.WORTH, TX
Amendment No. 1 to City Secretary Contract No. 55123
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