HomeMy WebLinkAboutContract 47908 Cl a Y SECRETAW
CONTRACT NO.
COMPLETION AGREEMENT
This Completion Agreement ("Agreement"), is made and entered into by and between the
City of Fort Worth, ("City') and Bloomfield Homes, L.P., a Limited Partnership, 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 16.38 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 15-116 ; and
WHEREAS, the Developer and the City have entered into a Community Facilities
Agreement relating to the development, Watersbend North Phase 3 for Paving, Water, Sewer,
Drainage, Street Lights and Street Signs ('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.
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 One Million Five Hundred Sixty Three Thousand Thirty Eight Dollars
and Five Cents ($1,563,038.05), hereinafter called the "Completion Amount".
Notwithstanding the foregoing, it is acknowledged that the actual costs of completion of
City of Fort Worth, Texas
Standard Completion Agreement—Self-Funded RECEIVED
CFA Official Release Date: 07.01.2015 OFFICIAL RECORD
Page 1 of 10 CITY SECRETARY JUN 21 2016
FT.WORTH,TX -T!nF FORTW07`'
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.
City of Fort Worth, Texas
Standard Completion Agreement— Self-Funded
CFA Official Release Date: 07.01.2015
Page 2 of 10
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: Julie.Westerman cL;fortworthtexas.gov
Confirmation Number: 817-392-2677
and/or CFA Division
Email: CFAs_fortworthtexas.gov
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
City of Fort Worth, Texas
Standard Completion Agreement— Self-Funded
CFA Official Release Date: 07.01.2015
Page 3 of 10
(ii) Notice to the Developer shall be addressed and delivered as follows:
Bloomfield Homes, L.P.
1050 E. Hwy 114, Suite 210
Southlake, TX 76092
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.
(REMAINDER OF PAGE INTENTIONALLY LEFT BLANK)
City of Fort Worth, Texas
Standard Completion Agreement— Self-Funded
CFA Official Release Date: 07.01.2015
Page 4of10
Executed in quadruplicate in each entity's respective name by its duly authorized signatories
effective as of the date executed by the City's City Manager or his/her designee.
CITY OF FORT WORTH: DEVELOPER:
Bloomfield Homes, L.P.,
By: Bomfield Prop e iLnc-,
r
Jesus J Chapa Name: Donald J. ykst
Assistant City Manager Title: President
Date: Date: A 7
Approved as to Form & Legality:
Assistant City Attorney "I(l ica
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City of Fort Worth, Texas
Standard Completion Agreement- Self-Funded OFFICIAL RECORD
CFA Official Release Date: 07.01.2015 CITY SECRETARY
Page 5 of 10 FT. WORTH' TX
LIST OF EXHIBITS
ATTACHMENT "1"-CHANGES TO STANDARD AGREEMENT
EXHIBIT A - LEGAL DESCRIPTION
EXHIBIT B - APPROVED BUDGET
City of Fort Worth, Texas
Standard Completion Agreement— Self-Funded
CFA Official Release Date: 07.01.2015
Page 6 of 10
ATTACHMENT "1"
Changes to Standard Agreement
Self-Funded Completion Agreement
None.
City of Fort Worth, Texas
Standard Completion Agreement— Self-Funded
CFA Official Release Date: 07.01.2015
Page 7 of 10
EXHIBIT A
LEGAL DESCRIPTION
BEGINNING at a 5/8" rebar capped Dunaway found in the west line of Evening View Drive (60'
R.O.W., Cabinet A, Slide 9501 & Cabinet A, Slide 11577, Plat Records, Tarrant County, Texas)
at the southeast comer of Lot 15, Block 23 of the final plat of Fossil Hill Estates, Lot 15, Block
23, an addition to the City of Fort Worth, Tarrant County, Texas as recorded in Cabinet A, Slide
9501, Plat Records, Tarrant County, Texas;
THENCE along the west right-of-way line of said Evening View Drive, as follows:
S 00°27'35" E, a distance of 427.97 feet to a 1/2" rebar capped Goodwin & Marshall set
(hereafter referred to as 1/2" rebar capped set) at the beginning of a tangent curve to the
left, having a radius of 380.00 feet;
Southeasterly, along said curve, having a central angle of 10°05'54", an arc distance of
66.98 feet, and a chord that bears S 05°30'32" E, 66.89 feet to a 1/2" rebar capped set at
the end of said curve;
S 10°33'29" E, tangent to said curve, a distance of 51.99 feet to a 1/2" rebar capped set at
the beginning of a tangent curve to the right, having a radius of 320.00 feet;
Southeasterly, along said curve, having a central angle of 10°05'54", an arc distance of
56.40 feet, and a chord that bears S 05°30'32" E, 56.33 feet to a 1/2" rebar capped set at
the end of said curve;
S 00°27'35" E, tangent to said curve, a distance of 159.63 feet a 1/2" rebar capped set;
S 44°32'25" W, a distance of 14.14 feet a 1/2" rebar capped set;
S 00°27'35" E, a distance of 30.00 feet a 1/2" rebar capped set at the intersection with the
north line of Magma Drive (30' R.O.W. Cabinet A, Slide 11577, Plat Records, Tarrant
County, Texas, being a reentrant corner of the final plat of Fossil Hill Estates, an addition
to the City of Fort Worth, Tarrant County, Texas as recorded in Cabinet A, Slide 11577,
Plat Records, Tarrant County, Texas;
THENCE S 89032'25" W, along the north line of said Magma Drive, a distance of 894.69 feet
(plat 849.48 feet) to a point in Wagley-Robertson Road (R.O.W. varies) at the southwest corner
of said Bloomfield Homes Tract V and the northwest corner of said final plat of Fossil Hill
Estates;
THENCE N 00017'35" W, within said Wagley-Robertson Road, along the west line of said
Bloomfield Homes Tract V, a distance of 801.53 feet to a point in the south line of said final plat
of Fossil Hill Estates, Lot 15, Block 23 at the northwest corner of said Bloomfield Homes Tract
City of Fort Worth, Texas
Standard Completion Agreement— Self-Funded
CFA Official Release Date: 07.01.2015
Page 8of10
V;
THENCE N 89032'25" E, departing said Wagley-Robertson Road, along the south line of said
final plat of Fossil Hill Estates, Lot 15, Block 23 and the north line Bloomfield Homes Tract V, a
distance of 882.40 feet to the POINT OF BEGINNING and containing 16.380 acres of land.
City of Fort Worth, Texas
Standard Completion Agreement— Self-Funded
CFA Official Release Date: 07.01.2015
Page 9 of 10
EXHIBIT B
APPROVED BUDGET
Section I
Water $231,154.75
Sewer $178,877.00
Sub-total $410,031.75
Section 11
Interior Streets $753,450.30
Storm Drains $310,456.00
Sub-total $1,063,906.30
Section III
Street Lights 89,100.00
Sub-total $89,100.00
TOTAL $1,563,038.05
City of Fort Worth, Texas
Standard Completion Agreement— Self-Funded
CFA Official Release Date: 07.01.2015
Page 10 of 10