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COMPLETION AGREEMENT— SELF FUNDED
Completion Agreement("Agreement"), is made and entered into by and between the
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City of Fort Worth,("City")and Bloomfield Hames,L.P.,a Texas 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 34.354 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 16-04B or FS<Number>; and
WHEREAS, the Developer and the City have entered into a Community Facilities
Agreement relating to the development, Watersbend North 4B for Water, Sewer, Pawing, Storni
Drain,and Street Lights ("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 Two Million Six Hundred Steen o sand:;Seven Hundred Dollars
($2,616,,700.00), hereinafter called the "Completion Amount". Notwithstanding the
foregoing, it is acknowledged that the actual costs of completion of the Community
City of Fort Worth, Texas
Standard Completion Agreement—Self-Funded KFT.
L RECORD
CFA Official Release Date: 07.01.2015 ECRETARY
Page 1 of 10 RTH,TX
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@fortworthtexas.gov
Confirmation Number: 817-392-2677
and/or
CFA Division
Email: CFAkfortworthtexas.gov
Confirmation Number: 817-392-2025
With a copy thereof addressed and delivered as follows:
City of Fort Worth, Texas
Standard Completion Agreement—Self-Funded
CFA Official Release Date: 07.01.2015
Page 3of10
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:
Bloomfield Homes,L.P.
1050 E. Hwy 114,Ste 2110
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.
City of Fort Worth, Texas
Standard Completion Agreement—Self-Funded
CFA Official Release Date: 07.01.2015
Page 4of10
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 5 of 10
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: Bloomfield Properties, Inc.,
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Assistant City Manager o
Name: Donald J. Dy tra
/ Title: President
Date:
Approved as to Form & Legality: Date: b�
rr
Richard A. McCracken 0/1-147
Assistant City Attorney
ATTEST:
O�FORT�O
Mary f. Kayse
City Secretary U
M&C: 0A
Date:
reov, 17-15'. N/14-
City of Fort Worth, Texas
Standard Completion Agreement- Self-Funded OFFICIAL RECORD
CFA Official Release Date: 07.01.2015 CITY SECRETARY
Page 6 of 10 FT.WORTH,TX
Contract Compliance Manager
By signing I acknowledge that I am the person responsible
for the monitoring and administration of this contract, including
ensuring all performance and reporting requirements.
Janie S. Morales
Development Manager
OFFICIAL RECORD
CITY SECRETARY
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 7 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 8of10
EXHIBIT A
LEGAL DESCRIPTION
All of a tract of land situated in the Henry Robertson Survey,Abstract No. 1259, City of Fort
Worth, Tarrant County, Texas,being a portion of Tract I as described in deed recorded in
D215281478, Deed Records, Tarrant County,Texas and being more particularly described as
follows:
BEGINNING at a 1/2" rebar capped Goodwin & Marshall set(hereafter referred to as 1/2" rebar
capped set) at the southeast corner of the final plat of Fossil Hill Estates(Phase 2), an addition to
the City of Fort Worth, Tarrant County, Texas as recorded in Cabinet A, Slide 10239, Plat
Records, Tarrant County, Texas(PRTCT), said point lying in the west line of Trails of Fossil
Creek(Phase 1), an addition to the City of Fort Worth, Tarrant County, Texas as recorded in
D205157410, PRTCT, being the most easterly northeast corner of said Bloomfield Homes Tract
1;
THENCE S 0026'56" E, along the west line of said Trails of Fossil Creek(Phase 1), at a distance
of 664.97 feet passing the northwest corner of the platted terminus of Baltic Drive (50'R.O.W.),
at a distance of 714.97 feet passing a 1/2" rebar found at the southeast corner of the platted
terminus of said Baltic Drive,the southwest corner of said Trails of Fossil Creek(Phase 1) and
the northwest corner of the final plat of Trails of Fossil Creek(Phase 2A-1),an addition to the
City of Fort Worth,Tarrant County, Texas as recorded in D213066765,PRTCT, at a distance of
1490.41 feet passing the northwest corner of the platted terminus of Magma Drive (60'R.O.W.),
continuing a total distance of 1554.40 feet to a 1/2" rebar capped set at the southwest corner of
platted terminus of said Magma Drive, being the southwest corner of said Fossil Creek(Phase
2A-1)and the northwest corner of the final plat of Fossil Creek(Phase 2A-2), an addition to the
City of Fort Worth, Tarrant County, Texas as recorded in D214098479,PRTCT, from which a
1/2" rebar capped JBI found at the southwest corner of a tract of land as described in deed to
Pulte Homes of Texas, L.P.,recorded in D212269394, Deed Records, Tarrant County, Texas
bears S 0026'56" E, 1424.17 feet;
THENCE across said Bloomfield Homes Tract I, as follows:
Southwesterly, along a non-tangent curve to the right,having a radius point that bears
N 19146'29" W, 306.56 feet,a central angle of 1918'48", an arc distance of 103.33 feet, and a
chord that bears S 79152'55" W, 102.85 feet to a 1/2"rebar capped set at the end of said curve;
S 89132'25" W,tangent to said curve, a distance of 910.82 feet to a 1/2"rebar capped set at a
right-of-way clip corner in the east right-of-way line of Evening View Drive(60'R.O.W.per
Cabinet A, Slide 11577 & Cabinet A, Slide 9501,PRTCT and partial abandonment per
Ordinance No. );
THENCE along the east line of said Evening View Drive, as follows:
City of Fort Worth,Texas
Standard Completion Agreement—Self-Funded
CFA Official Release Date: 07.01.2015
Page 9 of 13
N 0027'35" W, a distance of 60.00 feet to a 1/2" rebar capped set at a right-of-way clip corner;
N 4527'35" W, a distance of 14.14 feet to a 1/2"rebar capped set at a right-of-way clip corner;
N 0027'35" W, a distance of 159.63 feet to a 1/2" rebar capped set at the beginning of a tangent
curve to the left,having a radius of 380.00 feet;
Northwesterly, along said curve, having a central angle of 1005'54", an arc distance of 66.98
feet, and a chord that bears N 0530'32" W, 66.89 feet to a 1/2" rebar capped set at the end of said
curve;
N 103329" W,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;
Northwesterly, along said curve,having a central angle of 1005'54", an arc distance of 56.40
feet, and a chord that bears N 0530'32" W, 56.33 feet to a 1/2" rebar capped set at the end of said
curve;
N 0027'35" W,tangent to said curve, a distance of 1178.10 feet to the northeast corner of said
Evening View Drive as set out in Cabinet A, Slide 9501, PRTCT, said point lying in the south
line of aforementioned Fossil Hill Estates (Phase 2), from which a 1/2" rebar capped found bears
S 8932'25" W, 0.3 feet;
THENCE departing the east line of said Evening View Drive, along the south line of said Fossil
Hill Estates(Phase 2), as follows:
N 8932'25" E, a distance of 892.41 feet to a point for corner in the east right-of-way line of
Hidden Ford Drive (50'R.O.W.), from which a 1/2" rebar capped found bears
N 2135 E, 0.2 feet;
S 0027'35" E, along the west right-of-way line of said Hidden Ford Drive, a distance of 10.00 to
a 1/2" rebar capped set at the southwest corner of the platted terminus of said Hidden Ford Drive;
N 8932'25" E, at a distance of 50.00 feet passing the southeast corner of the platted terminus of
said Hidden Ford Drive, continuing a total distance of 150.05 feet to the POINT OF
BEGINNING and containing 37.638 ACRES OF LAND.
SAVE& EXCEPT FROM THE 37.638 ACRE TRACT DESCRIBED ABOVE,THAT
CERTAIN 3.284 ACRE TRACT OF LAND DESCRIBED AS FOLLOWS:
BEING a 3.284 ACRE tract of land situated in the Henry Robertson Survey,Abstract No. 1259,
City of Fort Worth, Tarrant County, Texas,being a remainder portion of a tract of land as
described in deed to WEST.COMM. INVESTMENTS,L.P., recorded in Volume 13956, Page
419,Deed Records,Tarrant County, Texas, and being more particularly described as follows:
City of Fort Worth, Texas
Standard Completion Agreement—Self-Funded
CFA Official Release Date: 07.01.2015
Page 10 of 13
COMMENCING at a 1/2" rebar capped Goodwin&Marshall set(hereafter referred to as 1/2"
rebar capped set)at the southeast corner of the final plat of Fossil Hill Estates (Phase 2), an
addition to the City of Fort Worth, Tarrant County, Texas as recorded in Cabinet A, Slide 10239,
Plat Records,Tarrant County,Texas(PRTCT), said point lying in the west line of Trails of
Fossil Creek(Phase 1), an addition to the City of Fort Worth, Tarrant County, Texas as recorded
in D205157410,PRTCT, being the most easterly northeast corner of said Bloomfield Homes
Tract I;
THENCE S 0026'56"E, along the west line of said Trails of Fossil Creek(Phase 1), at a distance
of 664.97 feet passing the northwest corner of the platted terminus of Baltic Drive (50'R.O.W.),
at a distance of 714.97 feet passing the southwest corner of the platted terminus of said Baltic
Drive,the southwest corner of said Trails of Fossil Creek(Phase 1)and the northwest corner of
the final plat of Trails of Fossil Creek(Phase 2A-1), an addition to the City of Fort Worth,
Tarrant County,Texas as recorded in D213066765, PRTCT,continuing a total distance of
839.87 feet to a point, from which a 1/2" rebar capped JBI found at the southwest corner of a
tract of land as described in deed to Pulte Homes of Texas,.L.P.,recorded in D212269394, Deed
Records,Tarrant County, Texas bears S 0026'56" E,2138.71 feet(deed 2138.76 feet);
THENCE S 89-32'25" W, departing the west line of said Trails of Fossil Creek(Phase 2A-1),
across said Bloomfield Homes Tract I, a distance of 149.85 feet(deed 150.05 feet)to a 1/2"
rebar capped Beasley RPLS No. 4050 found at the southeast corner of said West. Comm.
Investments,L.P. 3.284 ACRE remainder tract, being the POINT OF BEGINNING of the herein
described tract of land;
THENCE along the lines common to said West. Comm. Investments, L.P. 3.284 ACRE
remainder tract and said Bloomfield Homes Tract I,as follows:
S 89-32'25" W, a distance of 317.86 feet to a 1/2" rebar capped Beasley RPLS No. 4050 found;
N 002735" W, a distance of 450.00 feet to a 1/2" rebar capped Beasley RPLS No. 4050 found;
N 89-32'25" E, a distance of 317.86 feet to a 1/2" rebar capped Beasley RPLS No. 4050 found;
S 002735" E, a distance of 450.00 feet to the POINT OF BEGINNING and containing 3.284
ACRES OF LAND.
LEAVING A NET ACREAGE OF 34.354 ACRES OF LAND
City of Fort Worth, Texas
Standard Completion Agreement—Self-Funded
CFA Official Release Date: 07.01.2015
Page 11 of 13
EXHIBIT B
APPROVED BUDGET
Section I
Water $931,550.00
Sewer $369,900.00.
Sub-total $801,450.00
Section II
Interior Streets $1,18 ,5B.OU
Storm Drains $482,92100
Sub-total $1,6701,503.110
Section III
Street Lights $144;'747.QQ
Sub-total $144,7747, QO
TOTAL $2,616,700.00
City of Fort Worth,Texas
Standard Completion Agreement—Self-Funded
CFA Official Release Date: 07.01.2015
Page 10 of 10