HomeMy WebLinkAboutContract 57635-A2Date Received: 3/14/2024
Time Received: 3:08 p.m.
City Secretary
Contract No.: 57635-A2
SECOND AMENDMENT TO CITY SECRETARY CONTRACT NUMBER
57635
A COMMUNITY FACILITIES AGREEMENT AND COMPLETION AGREEMENT
BETWEEN THE CITY OF FORT WORTH AND HT HWY 114 DEVELOPMENT, LP
This SECOND AMENDMENT TO CITY SECRETARY CONTRACT NUMBER
57635 ("Second 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, HT Hwy 114
Development, LP ("Developer"), 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
Phase 4C, City Project Number 103628 ("CFA"); and
WHEREAS, City and Developer executed a Self -Funded Completion Agreement as
the financial guarantee for the CFA ("Completion Agreement"); and
WHEREAS, the City and Developer previously amended the CFA to correct cost
estimates and the cost summary table, which was formalized under City Secretary Contract
Number 57635-Al ("First Amendment"); and
WHEREAS, the CFA and the Completion Agreement are filed with the City Secretary
as City Secretary Contract Number 57635; and
WHEREAS, Developer now desires to replace the Completion Agreement with a
Development Bond as the financial guarantee for the 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 the City
Secretary Number 57635:
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
$1,540,527.48 guaranteeing Developer's obligation to complete construction of the
remaining Improvements and pay all contractors and material suppliers. City and
Developer agree that Developer may replace the Completion Agreement with the
development bond as the financial guarantee for the remaining Improvements.
City of Fort Worth, Texas
Second Amendment to City Secretary Contract No. 57635
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
2.
The Completion Agreement is terminated.
3.
a. All other provisions of City Secretary Contract No. 57635 which are not expressly
amended herein, shall remain in full force and effect.
b. All terms in this Second Amendment that are capitalized, but not defined, shall have the
meanings ascribed to those terms in City Secretary Contract No. 57635.
[SIGNATURES ON FOLLOWING PAGE]
City of Fort Worth, Texas
Second Amendment to City Secretary Contract No. 57635
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
Dana BuL,GFhdOff
Dana Burghdoff (Mar 1 , 202414:31 CDT)
Dana Burghdoff
Assistant City Manager
Date: M a r K 2024
Recommended by:
Bichson Nguyen
Contract Compliance Specialist
Development Services
Approved as to Form & Legality:
Richard McCracken (Mar 14, 2024 14:00 CDT)
Richard A. McCracken
Sr. Assistant City Attorney
M&C No. N/A
Form 1295: N/A
City of Fort Worth, Texas
Second Amendment to City Secretary Contract No. 57635
ATTEST
Jannette S. Goodall
City Secretary
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DEVELOPER
[Signature on following page]
Contract Compliance Manager:
By signing, I acknowledge that I am the
person responsible for the monitoring and
administration of this contract, including all
performance and reporting requirements.
Rebecca Owen (Mar 11, 2024 08:35 CDT)
Name: Rebecca Diane Owen
Title: Development Manager
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
DEVELOPER
HT HWY 114 DEVELOPMENT LP
By: HT Hwy 114 Development LLC, its general partner
By: HT Hwy 114 LP, its sole member
By: Hines Hwy 114 LLC, its general partner
By: Hines Hwy 114 Associates LP, its sole member
By: Hines Investment Management Holdings Limited Partnership, its
general partner
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Robert W Witte (Mar 10, 202419:50 CDT)
Robert W. Witte
Senior Managing Director
Date: Mar 10, 2024
Acknowledged by:
Diasfiin Davidson
Dustin Davidson (Mar 6, 202410:29 CST)
Dustin Davidson
Managing Director
City of Fort Worth, Texas
Second Amendment to City Secretary Contract No. 57635