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Home My WebLink AboutContract 49798 OCTCE�Ed o CITY SECRETAW CONTRACT N0. 9 11 q9 c ll OII wVoF,Fo�r COMPLETION AGREEMENT—SELF FUNDED d Z ` is Completion Agreement("Agreement"), is made and entered into by and between the City of Fort Worth, ("City") and alirnt. a Texas Luted 1iab11ity company, 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 10AM 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 I746 or F ; and WHEREAS, the Developer and the City have entered into a Community Facilities Agreement relating to the development, 1V1rtne.Creek R�ncl%Sectan 4 for Pavu3g,_}Draiae Water Sewer 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 Six Hndrd 1�or Thuuzad E Tzartt 6/3OU Dollars ($bfl4, 1f), 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 Revised 09.07.2.017 ME, CFA Official Release Date: 07.01.2015 Page 1 of 10 OFFICIAL RECORD CITY SECRETARY FT.WORTH,TX 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 Cily 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 Revised 09.07.2017 JLE 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 200 Texas Street Fort Worth, Texas 76102 Attention: CFA Division Janie Morales, Development Manager Email: Janie.Morales@fortworthtexas.gov Confirmation Number: 817-392-7810 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 Revised 09.07.2017 JLE CFA Official Release Date: 07.01.2015 Page 3of10 City of Fort Worth 200 Texas Street Fort Worth, Texas 76102 Attention: Richard A. McCracken Assistant City Attorney Confirmation Number: 817-392-7611 (ii) Notice to the Developer shall be addressed and delivered as follows: CryslLe Deuelopznent LLC 3 Q pBawxe B1d: Fort i ortb;Tei 76107 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 Revised 09.07.2017 JLE CFA Official Release Date: 07.01.2015 Page 4 of 10 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 Revised 09.07.2017 ME CFA Official Release Date: 07.01.2015 Page 5of10 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: CRYSTAL LAKE DEVELOPMENT, LLC Jesus J. Chapa Assistant City Manager ame: John Cocker2i�n Title: Mger Date: Date: 912--91 ate 17 Approved as to Form & Legality: fit Richard A. McCracken Assistant City Attorney ATTEST: -t of F�R� Mar J. Kayser City Secretary M&C: NI►a` AS Date: OFFICIAL RECORD CITY SECRETARY FT.WORTH,TX City of Fort Worth, Texas Standard Completion Agreement— Self-Funded Revised 09.07.2017 JLE CFA Official Release Date: 07.01.2015 Page 6 of 10 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 Revised 09.07.2017 JLE 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 Revised 09.07.2017 JLE CFA Official Release Date: 07.01.2015 Page 8 of 10 EXHIBIT A LEGAL DESCRIPTION City of Fort Worth,Texas Standard Completion Agreement—Self-Funded Revised 09.07.2017 ME CFA Official Release Date: 07.01.2015 Page 9 of 10 METES & BOUNDS DESCRIPTION BEING A 10.130 ACRE TRACT OF LAND LOCATED IN THE JOSEPH BOMAN SURVEY, ABSTRACT NO. 79, CITY OF FORT WORTH, TARRANT COUNTY, TEXAS, BEING ALL OF A CALLED 10.131 ACRE TRACT OF LAND AS DESCRIBED IN THE SPECIAL WARRANTY DEED TO M & C DEVELOPMENT, LTD., A TEXAS LIMITED PARTNERSHIP, FILED FOR RECORD IN COUNTY CLERK'S INSTRUMENT NO. D204274829, OFFICIAL PUBLIC RECORDS, TARRANT COUNTY, TEXAS (OPRTCT), SAID 10.130 ACRE TRACT OF LAND BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS: BEGINNING AT A 1/2 INCH CAPPED IRON ROD FOUND STAMPED "JBI" FOR THE NORTHERNMOST CORNER OF SAID CALLED 10.131 ACRE TRACT OF LAND, SAME BEING THE WESTERNMOST CORNER OF LOT 45X, BLOCK X, MARINE CREEK RANCH, AN ADDITION TO THE CITY OF FORT WORTH, TARRANT COUNTY, TEXAS, ACCORDING TO THE PLAT RECORDED IN CABINET, A SLIDE 12800, PLAT RECORDS, TARRANT COUNTY, TEXAS (PRTCT), BEING ON THE EAST RIGHT-OF-WAY LINE OF HUFFINES BOULEVARD, A VARIABLE WIDTH PUBLIC RIGHT-OF-WAY, AND BEING AT THE BEGINNING OF A CURVE TO THE LEFT HAVING A RADIUS OF 375.00 FEET, FROM WHICH AN "X" CUT FOUND FOR THE EASTERNMOST CORNER OF LOT 1, BLOCK A, MARINE CREEK RANCH, AN ADDITION TO THE CITY OF FORT WORTH, TARRANT COUNTY, TEXAS, ACCORDING TO THE PLAT RECORDED IN COUNTY CLERK'S INSTRUMENT NO.D212014812,OPRTCT,BEARS NORTH 68 DEGREES 15 MINUTES 22 SECONDS WEST, A DISTANCE OF 132.26 FEET, SAID BEGINNING POINT HAVING A NAD83 - TEXAS COORDINATE SYSTEM POSITION (GRID) OF N:6991652.9 E:2302973.5 (BEARINGS & COORDINATE VALUES SHOWN HEREON ARE IN REFERENCE TO THE NAD83 - TEXAS COORDINATE SYSTEM - NORTH CENTRAL ZONE, 4202, BASED ON OBSERVATIONS UTILIZING THE LEICA GPS REFERENCE NETWORK. ALL DISTANCES SHOWN HEREON WERE ADJUSTED TO SURFACE USING A COMBINED SCALE FACTOR OF 1.00015312510,BASE POINT OF 0,0,0); THENCE SOUTHEASTERLY, DEPARTING SAID EAST RIGHT-OF-WAY LINE AND ALONG THE NORTHEAST LINE OF SAID CALLED 10.131 ACRE TRACT OF LAND, BEING COMMON WITH THE WEST LINE OF SAID LOT 45X,BLOCK X,OF SAID MARINE CREEK RANCH (A-12800),THE FOLLOWING CALLS: ALONG SAID CURVE TO THE LEFT AND IN A SOUTHEASTERLY DIRECTION, THROUGH A CENTRAL ANGLE OF 10 DEGREES I I MINUTES 48 SECONDS, AN ARC LENGTH OF 66.74 FEET, AND HAVING A LONG CHORD WHICH BEARS SOUTH 21 DEGREES 50 MINUTES 20 SECONDS EAST, A CHORD LENGTH OF 66.65 FEET, TO A 1/2 INCH CAPPED IRON ROD FOUND STAMPED "JBI"; SOUTH 27 DEGREES 03 MINUTES 17 SECONDS EAST, A DISTANCE OF 631.02 FEET, TO A 5/8 INCH CAPPED IRON ROD SET STAMPED "MYCOSKIE MCINNIS", FROM WHICH A 1/2 INCH CAPPED IRON ROD FOUND STAMPED "JBI" BEARS SOUTH 07 DEGREES 33 MINUTES 54 SECONDS EAST,A DISTANCE OF 0.64 FEET,BEING AT THE BEGINNING OF A CURVE TO THE RIGHT HAVING A RADIUS OF 352.35 FEET; ALONG SAID CURVE TO THE RIGHT AND IN A SOUTHEASTERLY DIRECTION, THROUGH A CENTRAL ANGLE OF 10 DEGREES 05 MINUTES 48 SECONDS, AN ARC LENGTH OF 62.09 FEET, AND HAVING A LONG CHORD WHICH BEARS SOUTH 21 DEGREES 59 MINUTES 10 SECONDS EAST, A CHORD LENGTH OF 62.01 FEET, TO A 1/2 INCH CAPPED IRON ROD FOUND STAMPED"JBI"; Page 1 of 3 SOUTH 16 DEGREES 56 MINUTES 19 SECONDS EAST, A DISTANCE OF 115.27 FEET, TO A 5/8 INCH CAPPED IRON ROD SET STAMPED "MYCOSKIE MCINNIS",BEING THE EASTERNMOST CORNER OF SAID CALLED 10.131 ACRE TRACT OF LAND, SAME BEING THE SOUTHWEST CORNER OF LOT 45X, BLOCK X, OF SAID MARINE CREEK RANCH(A-12800),AND BEING AN ANGLE POINT ON THE NORTHWEST LINE OF LOT 46X, BLOCK X, MARINE CREEK RANCH, AN ADDITION TO THE CITY OF FORT WORTH, TARRANT COUNTY, TEXAS, ACCORDING TO THE PLAT RECORDED IN COUNTY CLERK'S INSTRUMENT NO. D213027687, OPRTCT,FROM WHICH A 1/2 INCH CAPPED IRON ROD FOUND STAMPED "JBI BEARS SOUTH 18 DEGREES 47 MINUTES 39 SECONDS EAST,A DISTANCE OF 0.62 FEET; THENCE SOUTH 33 DEGREES 00 MINUTES 05 SECONDS WEST, DEPARTING SAID COMMON LINE AND ALONG THE SOUTHEAST LINE OF SAID CALLED 10.131 ACRE TRACT OF LAND, BEING COMMON THE NORTHWEST LINE OF LOT 46X, BLOCK X, OF SAID MARINE CREEK RANCH (D213027687), A DISTANCE OF 161.56 FEET, TO A 5/8 INCH CAPPED IRON ROD SET STAMPED "MYCOSKIE MCINNIS"; THENCE SOUTH 54 DEGREES 40 MINUTES 49 SECONDS WEST, CONTINUING ALONG SAID COMMON LINE, A DISTANCE OF 184.63 FEET, TO A 5/8 INCH CAPPED IRON ROD SET STAMPED "MYCOSKIE MCINNIS" FOR THE SOUTHERNMOST SOUTHEAST CORNER OF SAID CALLED 10.131 ACRE TRACT OF LAND, SAME BEING THE SOUTHWEST CORNER LOT 46X,BLOCK X,OF SAID MARINE CREEK RANCH(D213027687),AND BEING ON THE NORTH LINE OF A CALLED 19.07 ACRE TRACT OF LAND AS DESCRIBED IN THE DEED TO TEXAS ELECTRIC SERVICE COMPANY (T.E.S.CO.), FILED FOR RECORD IN VOLUME 2200, PAGE 310,DEED RECORDS,TARRANT COUNTY,TEXAS(DRTCT); THENCE SOUTH 89 DEGREES 35 MINUTES 29 SECONDS WEST,DEPARTING SAID COMMON LINE, AND ALONG THE SOUTH LINE OF SAID CALLED 10.131 ACRE TRACT OF LAND, BEING COMMON WITH THE NORTH LINE OF SAID CALLED 19.07 ACRE TRACT OF LAND,A DISTANCE OF 427.29 FEET, TO A 1/2 INCH IRON ROD FOUND FOR THE SOUTHWEST CORNER OF SAID CALLED 10.131 ACRE TRACT OF LAND, BEING ON THE EAST RIGHT-OF- WAY LINE OF SAID HUFFINES BOULEVARD, FROM WHICH A 1/2 INCH CAPPED IRON ROD FOUND STAMPED "JBI" FOR THE NORTHWEST CORNER OF LOT 77X, BLOCK 1, MARINE CREEK RANCH, AN ADDITION TO THE CITY OF FORT WORTH,TARRANT COUNTY,TEXAS, ACCORDING TO THE PLAT RECORDED IN CABINET A, SLIDE 12573, PRTCT, BEARS SOUTH 00 DEGREES 25 MINUTES 19 SECONDS EAST,A DISTANCE OF 203.55 FEET; THENCE NORTH 00 DEGREES 27 MINUTES 43 SECONDS WEST,DEPARTING SAID COMMON LINE, AND ALONG SAID EAST RIGHT-OF-WAY LINE, BEING COMMON WITH THE WEST LINE OF SAID CALLED 10.131 ACRE TRACT OF LAND,A DISTANCE OF 135.43 FEET,TO A 5/8 INCH CAPPED IRON ROD SET STAMPED"MYCOSKIE MCINNIS",BEING AT THE BEGINNING OF A CURVE TO THE RIGHT HAVING A RADIUS OF 1450.00 FEET; Page 2 of 3 THENCE ALONG SAID COMMON LINE AND SAID CURVE TO THE RIGHT, AND IN A NORTHERLY DIRECTION, THROUGH A CENTRAL ANGLE OF 32 DEGREES 50 MINUTES 17 SECONDS, AN ARC LENGTH OF 831.04 FEET,AND HAVING A LONG CHORD WHICH BEARS NORTH 16 DEGREES 01 MINUTES 05 SECONDS EAST,A CHORD LENGTH OF 819.71 FEET,TO A 5/8 INCH CAPPED IRON ROD SET STAMPED "MYCOSKIE MCINNIS", FROM WHICH A 1/2 INCH CAPPED IRON ROD FOUND STAMPED "JBI" FOR THE SOUTHERNMOST CORNER OF LOT 56, BLOCK A, OF SAID MARINE CREEK RANCH (D212014812), BEARS NORTH 74 DEGREES 17 MINUTES 28 SECONDS WEST,A DISTANCE OF 103.96 FEET; THENCE NORTH 32 DEGREES 27 MINUTES 13 SECONDS EAST, CONTINUING ALONG SAID COMMON LINE, A DISTANCE OF 134.59 FEET, TO THE POINT OF BEGINNING, AND CONTAINING 10.130 ACRES(441,263 SQUARE FEET)OF LAND,MORE OR LESS. Page 3 of 3 im.m--Tw 1 =7-1 4; ITE ZL lAff VICYXITY ATA 4p IAM BAR 1— R'l- "d, 1 A' FINAL PIAT MARINE CRRRK J?"CAY BLOCK 1,LOTS IX,2-6,9X 10-22 AND 23X OCK 2 LOTS IX AND 2 -79 8 OCIM�IQ IJO ACRES OF LAND LOCATED IN THE: J�SCT�BIT,KN SLIRVEY,ABSTRACT NO 79, 1 lAl —Le C?TY Or FOR WORTH, TMRANT COUNTY,TEXAS 4 SP ------- V------- mimia - ------------- : am ovev/rcnuv: nr�e+rmmuaeamabs '0 gaL'-MEM LTD, EXHIBIT B APPROVED BUDGET Section I Water $92, Sewer $1 7;829 fI? Sub-total $2101)524.50 Section II Interior Streets $311,185 4 Storm Drains $a8; 3 ,Op Sub-total $39 4 617.54 Section III Street Lights $2 ,6991a6 Sub-total $24,699.06 TOTAL $604,841.06 City of Fort Worth, Texas Standard Completion Agreement—Self-Funded Revised 09.07.2017 ME CFA Official Release Date: 07.01.2015 Page 10 of 10 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. te: Janie S. Morales Development Manager OFFICIAL RECOIW CITY SECRETARY FT. WORTH, TX