HomeMy WebLinkAboutContract 49957 CITY SECRETARY j4GlCJ,5 9
CONTRACT N0. 66
COMPLETION AGREEMENT—LENDER FUNDED
This Completion Agreement("Agreement)is made and entered into by and among the City
of Fort Worth ("City"), and 17FW Limited-Partnership, a Texas Limited Partnership, e.g. Limited
Liability Corporation 1("Developer"), and Texas Capital Bank, National Association("Lender"),
effective as of the date subscribed by the City's City Manager or Assistant City Manager. The
City,the Developer and the Lender are hereinafter collectively called the "Parties".
WITNESSETH:
WHEREAS, the Developer owns that certain tract of real property that contains
approximately "S2 Jacres that is 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 FP1!-`049 or FS'. �''. .�; and
WHEREAS, the Developer and the City have entered into a Community Facilities
Agreement relating to the development of 90V0nften Lake9 P ase 4 ("CFA"); and
WHEREAS, the City has required certain assurances of the availability of funds to
complete the water and sewer utilities, streets/paving, storm drain, street lights and street signs for
the development of the Property("Improvements"), and
WHEREAS, in order to provide such assurances as have been required by the City, the
Lender has agreed to advance certain funds to the City for Hard Costs (which term is hereinafter
defined)subject to,and in accordance with,the terms,provisions and conditions of this Agreement;
and
WHEREAS, the Developer has granted to the Lender as additional security for the Loan
(which term is hereinafter defined) a security interest in all plans and specifications for the
development of the Property(collectively,the "Plans"); 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 benefits to be derived from the mutual
observance by the Parties of the terms and conditions hereof, and for and in consideration of Ten
City of Fort Worth,Texas O
Standard Completion Agreement—Lender-Funded _ Revised 09.07.20 ALRI `1
CFA Official Release Date:07.01.2015 G
Page 1 of 20 n ` ARY Q`�C'�`1'FT. TX 6�
e,4,
Dollars ($10.00) and other good and valuable consideration,the receipt, adequacy and sufficiency
of which are hereby acknowledged,the Parties agree 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
required to complete the Improvements in the aggregate should not exceed the sum of THREE
MILLION THREE HUNDRED-NINNY TWO THOUSAND SIX HUNDRED FIFTY FfVE
AND '09/100 Dollars ($3,392,655,1)9), hereinafter called the "Completion Amount".
Notwithstanding the foregoing, it is acknowledged that the actual costs of completion of the
Improvements 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.
3. Adjustments to the Completion Amount. The Lender may from time to time make
advances to the Developer for the development of the Property under the development loan that
has been made by the Lender to the Developer for the purpose of financing the costs of constructing
the Improvements for the Property (the "Loan") subject to, and in accordance with, the terms,
conditions and provisions of the Loan Documents (which term is hereinafter defined) evidencing
and securing the Loan. Some of those advances shall be for Hard Costs as specified in the
"Approved Budget" relating to the Loan, a copy of which Approved Budget is marked Exhibit
"B", attached hereto and incorporated herein for all purposes, with the Hard Costs line items
highlighted. The term"Hard Costs" shall mean the actual costs of construction and installation of
the Improvements. To the extent that advances under the Loan are for the payment of Hard Costs,
the Completion Amount shall be deemed reduced, dollar for dollar. The Lender may withhold
statutory retainage from any advances under the Loan or pursuant to this Agreement. All such
retainage withheld, to the extent it is attributable to Hard Costs, shall also reduce the Completion
Amount dollar for dollar. All retainage withheld by the Lender for Hard Costs that are advanced
to the City pursuant to this Agreement shall be released to the City as provided in the Texas
Property Code upon expiration of the statutory retainage period.
4. Completion by the Developer. The Developer agrees to complete the
Improvements on or before the date for completion that is established in the Loan Documents plus
City of Fort Worth,Texas
Standard Completion Agreement—Lender-Funded Revised 09.07.2017 JLE
CFA Official Release Date:07.01.2015
Page 2 of 20
thirty (30)days (the "Completion Date"), in accordance with the CFA,the Plans approved by the
Lender and the City and all documents evidencing or securing the Loan (collectively, the "Loan
Documents"). For the purposes of this Agreement, the development of the Property shall be
deemed complete upon acceptance by the City of the Improvements. The City shall promptly
notify the Lender and the Developer upon such acceptance.
5. Completion by the City. In the event that either: (A) the development of the
Property is not completed by the Completion Date for any reason whatsoever,or(B)the Developer
is in default under the Loan, then the Lender, at its sole option, may request the City to complete
development. The City may, at its sole option and at the cost and expense of the Developer,within
10 days from receipt of Lender's request, notify Lender that it will undertake to complete the
Improvements and the City shall then commence, pursue, and complete the Improvements in a
reasonably timely, diligent and workmanlike manner in accordance with the Plans, subject to the
terms of this Agreement. The Lender and the Developer agree that the City may use the Plans as
necessary to complete the Improvements.
If the City does not timely elect to complete the construction of the Improvements or if the
Lender does not request the City to complete construction of the Improvements, then the Lender
may at its election terminate this Agreement, or at its option, proceed to complete the
Improvements, or foreclose on any of its collateral, or take any and all such action as may be
provided under the Loan Documents.
6. Advance of Completion Costs to the City and Delivery of Hard Costs Collateral to
the City. In the event the Lender has requested the City and the City has elected to complete the
Improvements, Lender shall transfer to the City all remaining undisbursed Hard Costs specified in
the Approved Budget within 10 days of the date that the City elected to complete and provided
Lender with written notice of such election.
The Developer hereby authorizes and instructs the Lender to make the transfer of any
remaining undisbursed Hard Costs specified in the Approved Budget to the City within 10 days of
notification that the City elects to complete the Improvements.
In the event the cost to complete the Improvements exceeds the moneys transferred to the
City, City shall notify Lender and Developer in writing of the need of additional funds. The
City of Fort Worth,Texas
Standard Completion Agreement—Lender-Funded Revised 09.07.2017 ME
CFA Official Release Date: 07.01.2015
Page 3 of 20
additional funds required to complete the Improvements shall be delivered to the City within 10
business days following notification to Lender and Developer. Failure to deliver the additional
funds shall relieve the City of the obligation to complete the Improvements, in which event City
shall use the Hard Costs funds in its possession to pay the contractor(s) all funds due it/them. Any
remaining undisbursed Hard Costs shall be returned to Lender within a reasonable time.
7. Completion by the Lender. The Lender may, at its discretion, but shall not be
obligated to, undertake to complete the Improvements if there is any default under any Loan
Documents in lieu of requesting the City to complete the Improvements. If the Lender elects to
complete the Improvements, any Hard Costs it expends shall, dollar for dollar, reduce the
Completion Amount.
8. Easements. In the event the City or the Lender undertakes the completion of the
Improvements, the Developer (and to the extent necessary the Lender) grants to the City and the
Lender open access to the Property and shall execute and deliver such temporary easements over
and across the entirety of the Property for the purpose of access and use for the completion of the
construction of the Improvements in accordance with this Agreement. To the extent requested by
the City and the Lender, written temporary construction easements in form acceptable to the City
and the Lender shall be executed by the Developer and filed of record. Nothing in this paragraph
shall reduce any rights of the Lender or obligations of the Developer under the Loan Documents.
9. Lender's Rights. Nothing in this Agreement shall affect any portion of the Lender's
collateral for the Loan or limit or impair the Lender's right to foreclose the same or deal with the
collateral as it elects in accordance with the Loan Documents.
10. 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 performance bond or other financial security in connection with the development of
the Property and the completion of the Improvements 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.
City of Fort Worth,Texas
Standard Completion Agreement—Lender-Funded Revised 09.07.2017 ME
CFA Official Release Date:07.01.2015
Page 4 of 20
11. Termination. This Agreement shall terminate upon the earlier to occur of the
following: (a) acceptance by the City of the Improvements; (b) mutual written agreement of
all of the Parties; or(c)the reduction of the Completion Amount to zero. However,release of the
plat shall be governed by paragraph 12 hereof and termination pursuant to (b) or (c) of this
paragraph 11 shall not require the City to release the plat.
12. Final Plat. The Parties acknowledge and agree that the City shall hold the final plat
of the Property until the Improvements 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.
13. Construction Contracts. Developer agrees to include in each Construction contract
that it enters into for the completion of the Improvements the following:
a.A statement that the City is not holding any security to guarantee any payment for work
performed on the Improvements;
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 of the Improvements; and
d. A requirement that each contractor contracting with the Developer include in each
subcontract the statements contained in a.,b., and c. above.
14. Miscellaneous.
A. Non-Assi%=ent 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,Texas
Standard Completion Agreement—Lender-Funded Revised 09.07.2017 ME
CFA Official Release Date: 07.01.2015
Page 5 of 20
City of Fort Worth
Planning and 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
Attention: CFA Division
Email: cfa@fortworthtexas.gov
Confirmation Number: 817-392-2025
With a copy thereof addressed and delivered as follows:
Richard A. McCracken
Office of the City Attorney
City of Fort Worth
200 Texas Street
Fort Worth,Texas 76102
Confirmation Number: 817-392-7611
(ii) Notice to the Developer shall be addressed and delivered as follows:
]7FW Limited Partnership
218 W. Wall Street
Grapevine,Tx 76051
Email: i66 kc�vna �
(iii) Notice to the Lender shall be addressed and delivered as follows:
Texas Capital Bank,National Associ ib-h
2930 W Sam Houston Pkwy, N., Suite 300
Houston,Tx 77043
Email: jo ,ansley@texascapitalbank.com
A party may change its address for notice upon prior written notice to the other parties pursuant to
the terms hereof.
City of Fort Worth,Texas
Standard Completion Agreement—Lender-Funded Revised 09.07.2017 ME
CFA Official Release Date: 07.01.2015
Page 6 of 20
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; provided, however, that this Agreement shall not supersede, amend or
modify any of the Loan Documents or any portion thereof.
G. Amendment. This Agreement may only be amended by a written instrument executed by
all of the Parties to his 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—Lender-Funded Revised 09.07.2017 ME
CFA Official Release Date: 07.01.2015
Page 7 of 20
ACCORDINGLY, the City of Fort Worth, Developer and Lender have each caused this
instrument to be 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:
17FW Limited Partnershin
Jesus J. Chapa
Assistant City Manager No obe Betancur
le ice President
Date: /A/- ! I
Date: � ` �UIrl
Approved as to Form and Legality:
LENDER:
Texas Capital Bank,National Association
Richard A. McCracken
Assistant City Attorney tdv
Name: Jocelyn Ansley
ATTEST: SR
OT�L Ie: Senior Vice President
01
Mary J. ser 'k
City Secretary j `XAS
M&C:
Date:
City of Fort Worth,Texas
Standard Completion Agreement—Lender-Funded Revised 09.07.2017 ME
CFA Official Release Date:07.01.2015
Page 8 of 20 OFFI7RECORDCITYFT.
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; provided, however, that this Agreement shall not supersede, amend or
modify any of the Loan Documents or any portion thereof.
G. Amendment. This Agreement may only be amended by a written instrument executed by
all of the Parties to his 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—Lender-Funded Revised 09.07.2017 JLE
CFA Official Release Date: 07.01.2015
Page 7 of 20
17FW Limited Partnership, the Guarantor of the Development Loan, is executing this
Completion Agreement for the sole purpose of acknowledging that advances that are made by the
Lender pursuant to this Completion Agreement shall be deemed to be advances that are made
under the Loan that shall be subject to and covered by the Loan Documents and the Guaranty
Agreement that was executed by 17FW Limited Partnership.
GUARANTOR
By:
Nam J. Betancur
Tit]el ce President
City of Fort Worth,Texas
Standard Completion Agreement—Lender-Funded Revised 09.07.2017 ME
CFA Official Release Date:07.01.2015 �FAL Pa C )
Page 9 of 20 w Y ECRI°nTARY
1,,;"F 1RTH,T%
i
List of Exhibits to the Completion Agreement
Attachment 1 —Changes to the Standard Completion Agreement
Exhibit A- Legal Description
Exhibit B - Approved Budget
City of Fort Worth,Texas
Standard Completion Agreement Lender-Funded Revised 09.07.2017 ME
CFA Official Release Date:07.01.2015
Page 10 of 20
List of Exhibits to the Completion Agreement
Attachment 1 —Changes to the Standard Completion Agreement
Exhibit A- Legal Description
Exhibit B - Approved Budget
City of Fort Worth,Texas
Standard Completion Agreement—Lender-Funded Revised 09.07.2017 ME
CFA Official Release Date: 07.01.2015
Page 10 of 20
ATTACHMENT"1"
Changes to Standard Completion Agreement
None.
City of Fort Worth,Texas
Standard Completion Agreement—Lender-Funded Revised 09.07.2017 ME
CFA Official Release Date:07.01.2015
Page 11 of 20
EXHIBIT A
STATE OF TEXAS
COUNTY OF DENTON
WHEREAS 17FW LP, is the owner of a 76.852 acre tract of land situated in the M.E.P. & P.R.R.
Co. Survey Abstract No. 906, City of Fort Worth, Denton County, Texas, according to the deed
filed in Document Number 2014-82640, Real Property Records of Denton County, Texas
(R.P.R.D.C.T.); said 76.852 acres of land being more particularly described by metes and bounds
as follows:
BEGINNING at a 5/8 inch iron rod with cap stamped "R.P.L.S. 5430" found for the southeast
corner of Seventeen Lakes according to the plat recorded in Document Number 2016-100, Plat
Records of Denton County, Texas, same also being the southeast corner of a Right-of-Way
Dedication for Future Eagle Parkway;
THENCE along the easterly line of said Seventeen Lakes the following courses and distances:
North 48 degrees 52 minutes 44 seconds East, a distance of 148.00 feet to a 5/8 inch iron rod with
cap stamped"R.P.L.S. 5430"found for corner;
North 03 degrees 51 minutes 59 seconds East, a distance of 13.54 feet to a 5/8 inch iron rod with
cap stamped"R.P.L.S. 5430"found for corner;
North 48 degrees 51 minutes 59 seconds East, a distance of 105.00 feet to a 5/8 inch iron rod with
cap stamped"R.P.L.S. 5430" found for corner;
South 86 degrees 08 minutes 01 seconds East, a distance of 14.14 feet to a 5/8 inch iron rod with
cap stamped"R.P.L.S. 5430"found for corner;
City of Fort Worth,Texas
Standard Completion Agreement—Lender-Funded Revised 09.07.2017 ME
CFA Official Release Date:07.01.2015
Page 12 of 20
North 48 degrees 50 minutes 45 seconds East, a distance of 50.00 feet to a 5/8 inch iron rod with
cap stamped"R.P.L.S. 5430"found for corner;
North 03 degrees 38 minutes 18 seconds East, a distance of 14.20 feet to a 5/8 inch iron rod with
cap stamped"R.P.L.S. 5430" found for the beginning of a curve to the left;
with said curve to the left with a radius of 200.00 feet, a central angle of 25 degrees 03 minutes 13
seconds, an arc length of 87.45 feet, a chord bearing of North 34 degrees 32 minutes 56 seconds
East, a chord length of 86.76 feet to a 5/8 inch iron rod with cap stamped "R.P.L.S. 5430" found
for the beginning of a reverse curve to the right;
with said reverse curve to the right with a radius of 300.00 feet, a central angle of 05 degrees 25
minutes 47 seconds, an arc length of 28.43 feet, a chord bearing of North 24 degrees 44 minutes
13 seconds East, a chord length of 28.42 feet to a 5/8 inch iron rod with cap stamped "R.P.L.S.
5430"found for corner;
South 41 degrees 08 minutes 01 seconds East, a distance of 157.76 feet to a 5/8 inch iron rod with
cap stamped"R.P.L.S. 5430" found for corner;
North 15 degrees 54 minutes 07 seconds East, a distance of 678.81 feet to a 5/8 inch iron rod with
cap stamped "R.P.L.S. 5430" found for corner lying on the southerly line of Wilderness Pass a 50
feet wide right-of-way according to said Seventeen Lakes, also for the beginning of a curve to the
right;
THENCE along the southerly right-of-way of said Wilderness Pass same being the southerly line
of said Seventeen Lakes the following courses and distances:
with said curve to the right with a radius of 275.00 feet, a central angle of 09 degrees 22 minutes
31 seconds,an arc length of 45.00 feet,a chord bearing of North 82 degrees 27 minutes 49 seconds
City of Fort Worth,Texas
Standard Completion Agreement—Lender-Funded Revised 09.07.2017 ME
CFA Official Release Date: 07.01.2015
Page 13 of 20
East, a chord length of 44.95 feet to a 5/8 inch iron rod with cap stamped "R.P.L.S. 5430" found
fore corner;
North 87 degrees 09 minutes 04 seconds East, a distance of 473.56 feet to a 5/8 inch iron rod with
cap stamped"R.P.L.S. 5430" found for the beginning of a curve to the right;
with said curve to the right with a radius of 975.00 feet, a central angle of 02 degrees 31 minutes
21 seconds,an arc length of 42.92 feet,a chord bearing of North 88 degrees 24 minutes 45 seconds
East, a chord length of 42.92 feet to a 5/8 inch iron rod with cap stamped "R.P.L.S. 5430" found
for corner;
South 42 degrees 04 minutes 59 seconds East, a distance of 13.40 feet to a 5/8 inch iron rod with
cap stamped"R.P.L.S. 5430" found for corner;
South 88 degrees 15 minutes 56 seconds East, a distance of 50.13 feet to a 5/8 inch iron rod with
cap stamped"R.P.L.S. 5430" found for corner;
North 49 degrees 41 minutes 02 seconds East, a distance of 14.43 feet to a 5/8 inch iron rod with
cap stamped"R.P.L.S. 5430" found for the beginning of a curve to the right;
with said curve to the right with a radius of 975.00 feet, a central angle of 05 degrees 46 minutes
06 seconds,an arc length of 98.16 feet, a chord bearing of South 83 degrees 19 minutes 15 seconds
East, a chord length of 98.12 feet to a 5/8 inch iron rod with cap stamped "R.P.L.S. 5430" found
for corner;
South 80 degrees 26 minutes 12 seconds East, a distance of 131.89 feet to a 5/8 inch iron rod with
cap stamped"R.P.L.S. 5430"found for corner;
South 34 degrees 11 minutes 19 seconds East, a distance of 13.83 feet to a 5/8 inch iron rod with
cap stamped"R.P.L.S. 5430" found for corner;
City of Fort Worth,Texas
Standard Completion Agreement—Lender-Funded Revised 09.07.2017 ME
CFA Official Release Date:07.01.2015
Page 14 of 20
South 80 degrees 26 minutes 12 seconds East a distance of 50.05 feet to a 5/8 inch iron rod with
cap stamped"R.P.L.S. 5430"found for corner;
North 55 degrees 48 minutes 41 seconds East, a distance of 14.45 feet to a 5/8 inch iron rod found
for corner;
South 80 degrees 26 minutes 12 seconds East, a distance of 121.35 feet to a 5/8 inch iron rod with
cap stamped"R.P.L.S. 5430" found for the beginning of a curve to the right;
with said curve to the right with a radius of 275.00 feet, a central angle of 55 degrees 52 minutes
22 seconds, an arc length of 268.17 feet, a chord bearing of South 52 degrees 30 minutes 01
seconds East,a chord length of 257.67 feet to a 5/8 inch iron rod with cap stamped"R.P.L.S. 5430"
found for corner;
South 24 degrees 33 minutes 50 seconds East, a distance of 202.62 feet to a 5/8 inch iron rod with
cap stamped "R.P.L.S. 5430" found for the beginning of a curve to the left;
with said curve to the left with a radius of 325.00 feet,a central angle of 18 degrees 54 minutes 21
seconds, an arc length of 107.24 feet, a chord bearing of South 34 degrees 01 minutes 01 seconds
East, a chord length of 106.75 feet to a 5/8 inch iron rod with cap stamped "R.P.L.S. 5430" found
for corner;
South 04 degrees 08 minutes 37 seconds East, a distance of 15.27 feet to a 5/8 inch iron rod with
cap stamped"R.P.L.S. 5430"found for corner;
South 49 degrees 39 minutes 59 seconds East, a distance of 50.24 feet to a 5/8 inch iron rod with
cap stamped"R.P.L.S. 5430" found for corner;
City of Fort Worth,Texas
Standard Completion Agreement—Lender-Funded Revised 09.07.2017 ME
CFA Official Release Date: 07.01.2015
Page 15 of 20
North 80 degrees 09 minutes 51 seconds East, a distance of 14.17 feet to a 5/8 inch iron rod with
cap stamped"R.P.L.S. 5430" found for the beginning of a curve to the left;
with said curve to the left with a radius of 325.00 feet,a central angle of 18 degrees 26 minutes 03
seconds, an arc length of 104.56 feet, a chord bearing of South 65 degrees 03 minutes 17 seconds
East, a chord length of 104.11 feet to a 5/8 inch iron rod with cap stamped"R.P.L.S. 5430" found
for corner;
South 15 degrees 23 minutes 40 seconds West, leaving the south right-of-way of said Wilderness
Pass continuing along the south line of Seventeen Lakes, a distance of 80.25 feet to a 5/8 inch iron
rod with cap stamped"R.P.L.S. 5430" found for corner;
South 00 degrees 52 minutes 38 seconds East, a distance of 61.52 feet to a 5/8 inch iron rod with
cap stamped"R.P.L.S. 5430"found for corner;
North 89 degrees 07 minutes 22 seconds East, a distance of 402.32 feet to a 5/8 inch iron rod with
cap stamped "T.N.P." found for corner lying on the west line of Seventeen Lakes Boulevard a 60
feet wide right-of-way, also lying on the west line of Seventeen Lakes Recorded in Document
Number 2013-239, Plat Records of Denton County, Texas;
THENCE along the west line of last mentioned Seventeen Lakes the following courses and
distances:
South 00 degrees 52 minutes 38 seconds East, a distance of 115.00 feet to a 5/8 inch iron rod with
cap stamped"T.N.P." found for corner;
South 44 degrees 07 minutes 22 seconds West, a distance of 14.14 feet to a 5/8 inch iron rod with
cap stamped"T.N.P." found for corner;
City of Fort Worth,Texas
Standard Completion Agreement—Lender-Funded Revised 09.07.2017 ME
CFA Official Release Date:07.01.2015
Page 16 of 20
South 89 degrees 07 minutes 22 seconds West, a distance of 5.00 feet to a 5/8 inch iron rod with
cap stamped"T.N.P."found for corner;
South 00 degrees 52 minutes 38 seconds East, a distance of 15.00 feet to a 5/8 inch iron rod with
cap stamped"T.N.P." found for corner;
North 89 degrees 07 minutes 22 seconds East, a distance of 5.00 feet to a 5/8 inch iron rod with
cap stamped"T.N.P." found for corner;
South 00 degrees 52 minutes 38 seconds East, a distance of 35.00 feet to a 5/8 inch iron rod with
cap stamped"T.N.P." found for corner;
South 89 degrees 07 minutes 22 seconds West, a distance of 110.00 feet to a 5/8 inch iron rod with
cap stamped"T.N.P." found for corner;
South 00 degrees 52 minutes 38 seconds East, a distance of 30.20 feet to a 5/8 inch iron rod with
cap stamped"T.N.P." found for the beginning of a curve to the right;
with said curve to the right with a radius of 414.22 feet, a central angle of 51 degrees 50 minutes
27 seconds, an arc length of 374.78 feet, a chord bearing of South 27 degrees 30 minutes 48
seconds West,a chord length of 362.13 feet to a 5/8 inch iron rod with cap stamped"T.N.P."found
for corner;
South 50 degrees 05 minutes 24 seconds West, a distance of 156.87 feet to a 5/8 inch iron rod with
cap stamped"T.N.P." found for corner;
South 09 degrees 37 minutes 32 seconds West, a distance of 183.06 feet to a 5/8 inch iron rod with
cap stamped "T.N.P" found for the beginning of a curve to the right;
City of Fort Worth,Texas
Standard Completion Agreement—Lender-Funded Revised 09.07.2017 ME
CFA Official Release Date: 07.01.2015
Page 17 of 20
with said curve to the right with a radius of 1025.00 feet, a central angle of 03 degrees 31 minutes
28 seconds,an arc length of 63.05 feet,a chord bearing of South 78 degrees 35 minutes 36 seconds
East,a chord length of 63.04 feet to a 5/8 inch iron rod with cap stamped"T.N.P."found for corner;
South 76 degrees 49 minutes 53 seconds East, a distance of 59.33 feet to a 5/8 inch iron rod with
cap stamped"T.N.P." found for the beginning of a curve to the left;
with said curve to the left with a radius of 540.00 feet,a central angle of 05 degrees 18 minutes 42
seconds, an are length of 50.06 feet, a chord bearing of South 10 degrees 45 minutes 05 seconds
West, a chord length of 50.04 feet to a 5/8 inch iron rod with cap stamped "T.N.P." found for
corner;
North 76 degrees 49 minutes 53 seconds West, a distance of 61.44 feet to a 5/8 inch iron rod with
cap stamped"T.N.P."found for the beginning of a curve to the left;
with said curve to the left with a radius of 975.00 feet, a central angle of 07 degrees 38 minutes 51
seconds, an arc length of 130.14 feet, a chord bearing of North 80 degrees 39 minutes 18 seconds
West, a chord length of 130.04 feet to a 5/8 inch iron rod with cap stamped "T.N.P." found for
corner;
South 05 degrees 32 minutes 35 seconds West, a distance of 185.13 feet to a 5/8 inch iron rod with
cap stamped"T.N.P."found for corner;
South 25 degrees 53 minutes 17 seconds East, a distance of 78.11 feet to a 5/8 inch iron rod with
cap stamped"T.N.P."found for corner;
South 00 degrees 00 minutes 11 seconds West, a distance of 92.33 feet to a 5/8 inch iron rod with
cap stamped"T.N.P."found for corner;
City of Fort Worth,Texas
Standard Completion Agreement—Lender-Funded Revised 09.07.2017 ME
CFA Official Release Date:07.01.2015
Page 18 of 20
South 19 degrees 11 minutes 23 seconds West, a distance of 88.88 feet to a 5/8 inch iron rod with
cap stamped"T.N.P."found for corner;
South 00 degrees 01 minutes 39 seconds West, a distance of 69.89 feet to a 5/8 inch iron rod with
cap stamped"T.N.P."found for corner lying on the south line of said 17FW tract and lying on the
north line of Henrietta Creek Road, a variable width right-of-way;
THENCE North 89 degrees 58 minutes 21 seconds West, along the south line of said 17FW tract
and the north line of said Henrietta Creek Road, a distance of 961.71 feet to a 5/8 inch iron rod
found for the southwest corner of said 17FW tract;
THENCE North 41 degrees 42 minutes 40 seconds West,leaving said Henrietta Creek Road along
the common line of said 17FW tract and Henrietta Creek Estates (unrecorded addition), a distance
of 114.15 feet to a 1/2 inch iron rod found at an angle point in same;
THENCE North 41 degrees 07 minutes 16 seconds West, continuing along the common line of
said 17FW tract and said Henrietta Creek Estates (unrecorded addition),a distance of 1453.93 feet
to the POINT OF BEGINNING, containing 3,347,678 square feet, or 76.852 acres of land.
City of Fort Worth,Texas
Standard Completion Agreement—Lender-Funded Revised 09.07.2017 ME
CFA Official Release Date:07.01.2015
Page 19 of 20
EXHIBIT B
APPROVED BUDGET
Section I
Water $413,288.00
Sewer $552,521.50
Subtotal $965,809.50
Section II
Interior Streets $1,173,538.90
Storm Drains $1,105,110.00
Subtotal $2,278,648.90
Section III
Street Lights $148,196.69
Sub-total $3,392,655.09
TOTAL $31,392,655.09
City of Fort Worth,Texas
Standard Completion Agreement—Lender-Funded Revised 09.07.2017 ME
CFA Official Release Date:07.01.2015
Page 20 of 20
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