HomeMy WebLinkAboutContract 49841 CITY SECRETARY qqg
CONTRACT NO.
COMPLETION AGREEMENT—SELF FUNDED
This Completion Agreement("Agreement"), is made and entered into by and between the
City of Fort Worth, ("City") and NT, &kff a Texas
limited liability 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 15.635 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 16-124 or FS ; and
WHEREAS, the Developer and the City have entered into a Community Facilities
Agreement relating to the development, Pine Meadows Phase II for Paving, Drainage, 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 Nine Hundred Thirty-Two, Five Hundred Twenty-Four and 48/100
Dollars($932,524.48), hereinafter called the"Completion Amount". Notwithstanding the
City of Fort Worth,Texas
Standard Completion Agreement—Self-Funded Revised 09.07.2017 JLE
CFA Official Release Date: 07.01.2015
Page 1 of 12
OFFICIAL RECORD
CITY SECRETARY
FT.WORTH,TX
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 Reguirements. 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
City of Fort Worth,Texas
Standard Completion Agreement—Self-Funded Revised 09.07.2017 ME
CFA Official Release Date: 07.01.2015
Page 2 of 12
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
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: CFA(cc fortworthtexas.,_,.
Confirmation Number: 817-392-2025
City of Fort Worth,Texas
Standard Completion Agreement—Self-Funded Revised 09.07.2017 JLE
CFA Official Release Date: 07.01.2015
Page 3 of 12
With a copy thereof addressed and delivered as follows:
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:
Pine Meadows Development Company
5137 Davis Blvd
North Richland Hills,Texas 76180
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 4of12
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 5 of 12
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:
Pine Meadows Development Company,
LLC
Jesus J. Chapa
Assistant City Manager
ame: rry d in
Title: iyFiyd�t
Date: �✓� —S
Approved as to Form &Legality: Date:
Richard A. McCracken
Assistant City Attorney
ATTEST:
FORT
Mary J. K s —
City Secretary
M&C: ^'� TEXPS
Date:
City of Fort Worth, Texas
Standard Completion Agreement—Self-Funded Revised 09.07.2017 JLE
CFA Official Release Date: 07.01.2015
Page 6of12
OFFICIAL RECORD
CITY SECRETARY
FM W- ORTH+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.
rn
fte: /6
anie S. Morales
Development Manager
r w
OFFICIAL RECORD
CITY SECRETARY
FT. WORTHY 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 Revised 09.07.2017 JLE
CFA Official Release Date: 07.01.2015
Page 7 of 12
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 12
EXHIBIT A
LEGAL DESCRIPTION
WHEREAS PINE MEADOWS LAND HOLDING COMPANY, L.L.C., A TEXAS LIMITED
LIABILITY CORPORATION IS THE SOLE OWNER OF 15.635 ACRE TRACT OF LAND
SITUATED IN CHARLES C. WHYTE SURVEY, ABSTRACT NUMBER 1611, AS
CONVEYED TO PINE MEADOW LAND HOLDING COMPANY, L.L.C. BY SPECIAL
WARRANTY DEED RECORDED IN INSTRUMENT NUMBER D214071827, D214071831,
D214071832, D214071840, D214071835, D214071838, D214071833, AND D214231798,
DEED RECORDS, TARRANT COUNTY, TEXAS, AND BEING MORE PARTICULARLY
DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING AT A 2 INCH ALUMINUM CAP STAMPED "314"FOUND FOR THE
SOUTHEAST CORNER OF LOT 2, BLOCK 1, O'DONNEL'S ADDITION, AN ADDITION
TO THE CITY OF FORT WORTH, TARRANT COUNTY, TEXAS, AS RECORDED IN
INSTRUMENT NUMBER D215078534, PLAT RECORD, TARRANT, COUNTY, TEXAS,
AND THE NORTHEAST CORNER OF SAID 15.635 ACRE TRACT IN THE WEST LINE OF
LOT 2, BLOCK 1, C.C. WHYTE ADDITION, AN ADDITION TO THE CITY OF FORT
WORTH, TEXAS, AS RECORDED IN CABINET A, SLIDE 1677, OF SAID PLAT
RECORDS;
THENCE SOUTH 00 DEGREES 00 MINUTES 37 SECONDS EAST, 703.06 FEET WITH
THE EAST LINE OF SAID 15.635 ACRE TRACT AND THE WEST LINE OF LOT 2, OF
SAID C.C. WHYTE ADDITION ADDITION AND LOT 1, BLOCK 1, C.C. WHYTE
ADDITION, AS RECORDED IN VOLUME 388-210, PAGE 64, OF SAID PLAT RECORDS
TO A 5/8 INCH IRON WITH YELLOW CAP STAMPED"ANA" SET FOR THE
SOUTHEAST CORNER OF SAID 15.635 ACRE TRACT AND THE NORTHEAST CORNER
OF THE REMAINDER OF 6.583 ACRE TRACT OF LAND CONVEYED TO
INTERNATIONAL CHURCH OF THE FOURSQUARE GOSPEL BY DEED RECORDED IN
INSTRUMENT NUMBER D198119009, DEED RECORD, TARRANT COUNTY, TEXAS;
THENCE SOUTH 89 DEGREES 59 MINUTES 25 SECONDS WEST, 206.92 FEET WITH
THE NORTH LINE OF SAID THE REMAINDER OF 6.583 ACRE TRACT TO A 5/8 INCH
IRON WITH CAP STAMPED"ANA" SET FOR THE NORTHWEST CORNER OF THE
REMAINDER OF 6.583 ACRE TRACT IN THE EAST LINE OF BLOCK 7, PINE
MEADOWS, ADDITION TO THE CITY OF FORT WORTH AS RECORDED IN
INSTRUMENT NUMBER D216107544, OF SAID PLAT RECORDS;
THENCE NORTH 00 DEGREES 00 MINUTES 21 SECONDS WEST, 144.47 FEET WITH
THE EAST LINE OF SAID BLOCK 7, TO A 1/2 INCH IRON WITH CAP STAMPED
"MILLER5665"FOUND;
THENCE SOUTH 90 DEGREES 00 MINUTES 00 SECONDS WEST, 104.78 FEET TO A 1/2
INCH IRON WITH CAP STAMPED"MILLER5665"FOUND;
City of Fort Worth, Texas
Standard Completion Agreement—Self-Funded Revised 09.07.2017 JLE
CFA Official Release Date: 07.01.2015
Page 9 of 12
THENCE NORTH 00 DEGREES 00 MINUTES 00 SECONDS EAST, 18.06 FEET TO A 1/2
INCH IRON WITH CAP STAMPED "MILLER5665"FOUND;
THENCE NORTH 90 DEGREES 00 MINUTES 00 SECONDS WEST, 760.00 FEET WITH
THE NORTH LINE OF BLOCK 5 OF SAID PINE MEADOWS TO A 5/8 INCH IRON WITH
CAP STAMPED "ANA" SET;
THENCE SOUTH 00 DEGREES 00 MINUTES 00 SECONDS EAST, 6.29 FEET WITH THE
NORTHERLY LINE OF SAID PINE MEADOWS TO A 1/2 INCH IRON WITH CAP
STAMPED "MILLER5665" FOUND FOR THE NORTHEAST CORNER OF LOT 16, BLOCK
1, OF SAID PINE MEADOWS;
THENCE NORTH 90 DEGREES 00 MINUTES 00 SECONDS WEST, 110.00 FEET WITH
THE NORTHERLY LINE OF SAID PINE MEADOWS AND SAID LOT 16, TO A 1/2 INCH
IRON WITH CAP STAMPED"MILLER5665" FOUND FOR THE NORTHWEST CORNER
OF SAID BLOCK 1, IN THE EAST LINE OF THAT CERTAIN TRACT OF LAND AS
CONVEYED TO SDA PROPERTIES LTD BY DEED RECORDED IN INSTRUMENT
NUMBER D2070I9997, DEED RECORDS, TARRANT COUNTY, TEXAS;
THENCE NORTH 00 DEGREES O1 MINUTES 20 SECONDS WEST, 556.01 FEET TO A 1/2
INCH IRON FOUND FOR THE NORTHWEST CORNER OF SAID 15.635 ACRE TRACT
AND THE NORTHEAST CORNER OF THAT CERTAIN TRACT OF LAND AS
CONVEYED TO RICKY W. COLLINS BY DEED RECORDED IN VOLUME 11677,PAGE
1829, OF SAID DEED RECORDS IN THE SOUTH LINE OF THAT CERTAIN TRACT OF
LAND AS CONVEYED TO DGI ENTERPRISES LP, BY DEED RECORDED IN
INSTRUMENT NUMBER D 208346159, OF SAID DEED RECORDS;
THENCE SOUTH 89 DEGREES 44 MINUTES 32 SECONDS EAST, 324.45 FEET WITH
THE NORTH LINE OF SAID 15.635 ACRE TRACT, AND THE SOUTH LINE OF SAID DGI
ENTERPRISES LP TRACT TO A 1/2 INCH IRON FOUND IN THE SOUTH LINE OF LOT 1,
BLOCK 1, OF SAID O'DONNEL'S ADDITION;
THENCE SOUTH 89 DEGREES 29 MINUTES 10 SECONDS EAST, 857.38 FEET WITH
THE NORTH LINE OF SAID 15.635 ACRE TRACT, AND THE SOUTH LINE OF BLOCK I,
OF SAID O'DONNEL'S ADDITION TO THE POINT OF BEGINNING AND
CONTAINNING 681,052 SQUARE FEET OR 15.635 ACRES OF LAND MORE OR LESS.
City of Fort Worth, Texas
Standard Completion Agreement—Self-Funded Revised 09.07.2017 JLE
CFA Official Release Date: 07.01.2015
Page 10 of 12
City of Fort Worth,Texas
Standard Completion Agreement—Self-Funded Revised 09.07.2017 ME
CFA Official Release Date: 07.01.2015
Page 11 of 12
EXHIBIT B
APPROVED BUDGET
Section I
Water $ 129,537.50
Sewer $166,392.50
Sub-total $ 295,930.00
Section II
Interior Streets $ 413,225.48
Storm Drains $ 189,076.50
Sub-total $ 602,301.98
Section III
Street Lights $34,292.50
Sub-total $ 34,292.50
TOTAL $932,524.48
City of Fort Worth, Texas
Standard Completion Agreement—Self-Funded Revised 09.07.2017 JLE
CFA Official Release Date: 07.01.2015
Page 12 of 12