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COMPLETION AGREEMENT
This Completion Agreement ("Agreement"), is made and entered
into by and between the City of Fort Worth, ("City") and Brickstone
Development, L.P. , 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 9.708 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 15-048 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 # 2015-064; M&C NA) relating
to the development, Villas at Barber Creek, for Paving, Drainage,
Water, Sewer and Lighting Improvements ("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.
AMY
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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 Five hundred seventy three thousand one hundred ninety
four and seventy five hundredths dollars ($573,194.75),
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.
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
Parties.
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
Property in the Plat Records of the county where the Property is
located. The purpose of the City retaining the final plat of the
Property 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.
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:
City of Fort Worth
Planning & Development Department
1000 Throckmorton Street
Fort Worth, Texas 76102
Attention: CFA Division
Julie Westerman, Development Manager
Email: jUjje. West .alas ..fortworthtexa , r
Confirmation Number: 817-392-2677
and/or
CFA Division
Email: C 1 A._(ii rortwortlitexa.ogoy
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
Confirmation Number: 817-392-7615
(ii) Notice to the Developer shall be addressed and
delivered as follows:
Brickstone Development, L.P.
Attention: Ron Lewandowski, Managing Partner
10501 Alta Vista Road
Keller Texas 76248
Telephone: 817-379-0727
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.
Executed IN QUADRUPLET by the Parties hereto:
DEVELOPER: CITY OF FORT WORTH:
Name 0kUb AJ. LtwAdVocA)SAl- / 5U 5 .- -
Title: 'PA&I !D&)J'T Assistant City Manager
Date: 9- 19 +5 C Date: ::` ;
PROVED AS TO FORM:
Douglas W. Black
Assistant City Attorney f z
Var ayser
City Secretaryq '
M&C:
Date: -- -----
H IV"I"ICIAL R i" iR,]l
LIST OF EXHIBITS
EXHIBIT A - LEGAL DESCRIPTION
EXHIBIT B - APPROVED BUDGET
EXHIBIT A
LEGAL DESCRIPTION
N d Tract Description of 9.708 Acres
FIELD NOTES to that certain tract situated in the Francisco Cuella Survey, Abstract
No. 266, City of Fort Worth, Tarrant County, Texas, said tract being the same tract
described in the deed to Dwayne M. Barber & wife, Vemell O. Barber recorded in
a, Volume 3833, Page 433 of the Deed Records of Tarrant County, Texas (SAVE &
w ' EXCEPT the tract described in the deed to the City of Fort Worth recorded under
S p.n °d ° ' Instrument Number D210220048 of the Official Public Records of Tarrant County,
Texas);the subject tract being more particularly described as follows:
Beginning at a 5/8 inch capped rebar stamped"Gorrondona"found on the south line of the tract described
in the deed to Dwayne M.Barber&wife,Vernell O.Barber recorded in Volume 3833,Page 433
of the Deed Records of Tarrant County,Texas(tract hereinafter referred to as the"Barber tract")
at the southwest comer of the tract described in the deed to the City of Fort Worth recorded under
Instrument Number D210220048 of the Official Public Records of Tarrant County, Texas, and
being on the west right of way of Alta Vista Road;
THENCE SOUTH 89 degrees 43 minutes 45 seconds WEST,with the south line of the said Barber tract, a
distance of 1,057.20 feet to a 5/8 inch rebar found at the southwest corner of the Barber tract;
THENCE NORTH 00 degrees 09 minutes 03 seconds WEST, with the west line of the Barber tract, a
distance of 400.17 feet to a 1/2 inch rebar found at the northwest corner of the Barber tract;
THENCE NORTH 89 degrees 45 minutes 44 seconds EAST, with the north line of the Barber tract, a
distance of 1,058.02 feet to a 5/8 inch capped rebar stamped "Gorrondona" found on the said
north line of the Barber tract at the northwest corner of the said City of Fort Worth tract, and
being on the said west right of way of Alta Vista Road;
THENCE SOUTH 00 degrees 02 minutes 02 seconds EAST,through the interior of the Barber tract, with
the west line of the City of Fort Worth tract being the west right of way of Alta Vista Road, a
distance of 399.56 feet returning to the Place of Beginning and enclosing 9.708 acres.
Basis of Bearings for this description is the Texas Coordinate System of 1983,North Central Zone.
irli �u� aw
Jewel Chadd
Registered Professional
Land Surveyor No 5754 (,
jewel @jphls.com
January 25,°2415 ,
Job No.2014.009.020 ' 1 �'� �.
Surveying, a,
807 Bluebonnet Drive,Suite C Keller, Texas 76248
Page I of 1 Telephone(817)431-4971
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EXHIBIT B
APPROVED BUDGET
Section I
Water $140,046.00
Sewer $121,605.00
Sub-total $261,651.00
Section II
Interior Streets $277,978.75
Storm Drains $33,565.00
Sub-total $311,543.75
Section III
Street Lights $0.00
Sub-total $0.00
TOTAL $573,194.75