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CONSENT TO ASSIGNMENT
OF DEVELOPMENT AGREEMENT
[City Secretary Contract No. 46503]
This CONSENT TO ASSIGNMENT OF DEVELOPMENT AGREEMENT ("Assignment")
is made and entered into by and between the CITY OF FORT WORTH, TEXAS (the "City"),
a home rule municipal corporation organized under the laws of the State of Texas; and
DOWNTOWN FORT WORTH INITIATIVES, INC ("Assignor" or "DFWII"), a Texas
nonprofit corporation, and DOWNTOWN FORT WORTH INC ("Assignee"), a Texas
nonprofit corporation.
The following introductory provisions are true and correct and form the basis of this Assignment:
A. The City and Assignor previously entered into City Secretary Contract No. 46503, on March
10`I', 2015 for the design and construction of pedestrian mobility facilities to mitigate the 1 st Street
closure due to the Tower 55 (the "Development Agreement"). The Development Agreement is a
public document on file in the City Secretary's Office.
B. Assignor now wishes to assign to Assignee all of Assignor's right, title and interest
granted to Assignor under the Development Agreement; Assignee wishes to accept such
assignment; the City is willing to consent to such assignment subject to the terms and conditions
set forth in this Assignment.
NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of
which are hereby acknowledged, the City, Assignor, and Assignee agree as follows:
1. The City hereby consents to an assignment by Assignor to Assignee of all right, title and
interest granted to Assignor pursuant to the Development Agreement, effective as of the last date
that the City, Assignor and Assignee have executed this Assignment ("Effective Date"). The
Development Agreement is incorporated herein by reference for all purposes.
2. The City does not adopt, ratify or approve the particular provisions of any written or oral
agreement or understanding that may have made or reached by and between Assignor and
Assignee as part of or in regard to the Assignment.
3. The City consents to the Assignment expressly upon the promise and covenant by
Assignee, and Assignee hereby promises and covenants to the City, that as of the Effective Date
Assignee will faithfully perform, as an independent contractor, all duties and obligations of
Company set forth in the Development Agreement.
4. Assignor understands and agrees that Assignor and Assignee will be jointly and severally
m liable to the City for (i) any duty or obligation that Assignor was required by the Development
C-) Agreement to undertake or perform prior to the Effective Date and (ii) for any damages,
< including, but not limited to, property loss, property damage and/or personal injury off any kind,
o including death, to the extent caused by Assignor, its officers, agents, servants, employees or
Dl- subcontractors.
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5. Notices required pursuant to the provisions of the Development Agreement shall be
conclusively determined to have been delivered when hand-delivered or mailed by United States
Mail, postage prepaid, return receipt requested, addressed as follows:
To Assignee: To Assignor:
Planning Director Planning Director
Attn: Melissa Konur Attn: Melissa Konour
Downtown Fort Worth, Inc. Downtown Fort Worth, Inc.
777 Taylor Street, Suite 100 777 Taylor Street, Suite 100
Fort Worth, TX 76102 Fort Worth, TX 76102
6. All terms in this Assignment that are capitalized but not defined shall have the meanings
assigned to them in the Development Agreement.
EXECUTED as of the latest date below:
APPROVED AS TO FORM AND CITY OF FORT WORTH
Li Er,liALl i iTYT
L' 1 Y
Assistant City Attorney Fernando Costa, Assistant City Manager
ASSIGNOR: ASSIGNEE:
DOWNTOWN FORT WORTH INITATIVES, INC. DOWNTOWN FORT WORTH, INC.
By: `' By:
dy Taft, Presiden dy Taft, Preside t
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Consent to Assignment(CSC No.46503)DFWII to DFW1 2 of 2