HomeMy WebLinkAboutContract 52923 Received Date:10/15/19
Received Time: 8:51 AM
Developer and Project Information Cover Sheet:
Developer Company Name: Burnett Lofts,LLC
Address, State,Zip Code: 7001 Preston Road,Fifth Floor,Dallas,TX 75205
Phone&Email: info(a)catalysturban.com/214-446-3910
Authorized Signatory, Title: Rhys Heinsch,Vice President
Project Name: Burnett Lofts
Brief Description: Water, Sewer,Paving, Storm Drain, Street Lights
Project Location: Temporary Address: 1012 Burnett Street,Fort Worth,TX 76102
Plat Case Number: Fs-15-089 Plat Name: NANCE'S ADDITION
Mapsco: Council District: 9
CFA Number: 18-0054 City Project Number: .101463
OFFICIAL RECORD
City of Fort Worth,Texas CITY SECRETARY
Standard Community Facilities Agreement-Burnett Lofts
CFA Official Release Date:02.20.2017 FT. WORTH,TX
Page 1 of 11
STANDARD COMMUNITY FACILITIES AGREEMENT
THE STATE OF TEXAS § City Secretary
COUNTY OF TARRANT § Contract No. 52923
WHEREAS, Burnett Lofts, LLC, ("Developer"), desir--s to make certain specific public
improvements as described below and on the exhibits attached hereto("Improvements")related to
a project generally described as Burnett Lofts ("Project") within the City or the extraterritorial
jurisdiction of Fort Worth, Texas ("City"); and
WHEREAS, the City has no obligation to participate in the cost of the Improvements or
Project; and
WHEREAS,any future City participation in this CFA is subject to the availability of City
funds and approval by the Fort Worth City Council and shall be memorialized as an amendment
to this Agreement; and
WHEREAS, the Developer and the City desire to enter into this Community Facilities
Agreement ("CFA" or "Agreement") in connection with the collective Improvements for the
Project.
NOW,THEREFORE,for and in consideration of the covenants and conditions contained
herein, the City and the Developer do hereby agree as follows:
General Requirements
A. The Policy for the Installation of Community Facilities ("Policy") dated March 2001,
approved by the City Council of the City of Fort Worth, as amended, is hereby incorporated
into this Agreement as if copied herein verbatim. Developer agrees to comply with all
provisions of said Policy in the performance of its duties and obligations hereunder and to
cause the general contractor("contractor") hired by Developer to comply with the Policy in
connection with the work performed by said contractor.
B. Developer shall provide financial security in the form of an Escrow Pledge Agreement in
conformance with paragraph 6, Section 11 of the Policy, which Developer has agreed to
deposit Nine Hundred Nineteen Seven Hundred Fifty-Eight and 75/100 Dollars
($919,758.75.00) with the Escrow Agent (as defined in said Escrow Pledge Agreement).
City of Fort Worth,Texas OFFICIAL RECORD
Standard Community Facilities Agreement-Burnett Lofts
CFA Official Release Date:02.20.2017 CITY SECRETARY
Page 2 of 11 FT WORTH,TX
Developer understands and agrees that acceptance of the Improvements by the City requires
the contractor to submit by a signed affidavit of bills paid and consent of Surety signed by
its surety to ensure the contractor has paid all amounts due and payable to any sub-
contractor(s) and suppliers.
C. Developer agrees to cause the construction of the Improvements contemplated by this
Agreement and to use commercially reasonable efforts to cause said construction to be
completed in a good and workmanlike manner and in accordance with all City standards and
the City-approved construction plans, specifications and cost estimates provided for the
Project and the exhibits attached hereto.
D. The following checked exhibits describe the Improvements and are incorporated herein:
Water(A) E_ Sewer(A-1) �, Paving(B) [? , Storm Drain(B-1)JZ, Street Lights & Signs
(C) ®.
E. The Developer shall award all contracts for the construction of the Improvements in
accordance with Section II,paragraph 7 of the Policy and the contracts shall be administered
in conformance with paragraph 8, Section II, of the Policy.
F. For all Improvements included in this Agreement for which the Developer awards
construction contract(s), Developer agrees to the following:
i. To employ a general construction contractor who is approved by the director of the
department having jurisdiction over the infrastructure to be constructed, said
contractor to meet City's requirements for being prequalified, insured,licensed and
bonded to do work in public ways and/or prequalified to perform water/wastewater
construction as the case may be.
ii. To require its contractor to furnish to the City a payment and performance bond in
the names of the City and the Developer for one hundred percent (100%) of the
contract price of the infrastructure, and a maintenance bond in the name of the City
for one hundred percent (100%) of the contract price of the infrastructure for a
period of two (2)years from the date of final acceptance of Improvements insuring
the maintenance and repair of the constructed infrastructure during the term of the
maintenance bond. All bonds to be furnished before work is commenced and to
meet the requirements of Chapter 2253, Texas Government Code.
City of Fort Worth,Texas
Standard Community Facilities Agreement-Burnett Lofts
CFA Official Release Date:02.20.2017
Page 3 of 11
iii. To require the contractor(s) it hires to perform the construction work contemplated
herein to provide insurance equal to or in excess of the amounts required by the
City's standard specifications and contract documents for developer-awarded
infrastructure construction contracts. The City shall be named as additional insured
on all insurance required by said documents and same will be evidenced on the
Certificate of Insurance (ACORD or other sta.t, -approved form) supplied by the
contractor's insurance provider and bound in the construction contract book.
iv. To require its contractor to give 48 hours advance notice of intent to commence
construction to the City's Construction Services Division so that City inspection
personnel will be available;to require the contractor to allow the construction to be
subject to inspection at any and all times by City inspection forces,to not install or
relocate any sanitary sewer, storm drain, or water pipe unless a responsible City
inspector is present and gives his consent to proceed, and to make such laboratory
tests of materials being used as may be required by the City.
V. To require its contractor to have fully executed contract documents submitted to
the City in order to schedule a Pre-Construction Meeting. The submittal should
occur no less than 10 working days prior to the desired date of the meeting. No
construction will commence without a City-:issued Notice to Proceed to the
Developer's contractor.
vi. To delay connections of buildings to service lines of sewer and water mains
constructed under this Agreement, if any, until said sewer and water mains and
service lines have been completed to the satisfaction of the Water Department.
G. Developer shall provide at its expense, unless otherwise agreed to by City, all engineering
drawings and documents necessary to construct the improvements under this Agreement.
H. Developer shall cause the installation or adjustment of the required utilities to serve the
development or to construct the Improvements required herein.
I. City shall not be responsible for payment of any costs that may be incurred by Developer in
the relocation of any utilities that are or may be in conflict with any of the community facilities
to be installed hereunder.
City of Fort Worth,Texas
Standard Community Facilities Agreement-Burnett Lofts
CFA Official Release Date: 02.20.2017
Page 4 of 11
J. Developer hereby releases and agrees to indemnify, defend and hold the City harmless
for any inadequacies in the preliminary plans,specifications and cost estimates supplied
by the Developer for this Agreement.
K. Developer agrees to provide, at its expense, all necessary rights of way and easements across
property owned by Developer and required for the construction of the current and future
Improvements provided for by this Agreement.
L. The Developer further covenants and agrees to, and by these presents does hereby,
fully indemnify, hold harmless and defend the City, its officers, agents and employees
from all suits, actions or claims of any character,whether real or asserted,brought for
or on account of any injuries or damages sustained by any persons (including death)
or to any property, resulting from or in connection with the construction, design,
performance or completion of any work to be performed by said Developer, its
contractors, subcontractors, officers, agents or employees, or in consequence of any
failure to properly safeguard the work, or on account of any act, intentional or
otherwise, neglect or misconduct of said Developer, its contractors, sub-contractors,
officers, agents or employees, whether or not such injuries, death or damages are
caused, in whole or in part, by the alleged negligence of the City, its officers,
servants, or employees; provided however, this indemnity does not apply to the gross
negligence or willful misconduct of the City, its officers, servants, or employees.
M. Developer will further require its contractors to indemnify, defend and hold harmless
the City, its officers, agents and employees from and against any and all claims, suits or
causes of action of any nature whatsoever, whether real or asserted, brought for or on
account of any injuries or damages to persons or property, including death, resulting
from, or in any way connected with,the construction of the infrastructure contemplated
herein, whether or not such injuries, death or damages are caused, in whole or in part,
by the alleged negligence of the City, its officers, servants, or employees; provided
however, this indemnity does not apply to the gross negligence or willful misconduct of
the City, its officers, servants, or employees. Further, Developer will require its
contractors to indemnify, and hold harmless the City for any losses, damages, costs or
expenses suffered by the City or caused as a result of said contractor's failure to complete
the work and construct the improvements in a good and workmanlike manner,free from
City of Fort Worth,Texas
Standard Community Facilities Agreement-Burnett Lofts
CFA Official Release Date: 02.20.2017
Page 5 of 11
defects, in conformance with the Policy, and in accordance with all plans and
specifications.
N. Upon completion of all work associated with the construction of the Improvements,
Developer will assign to the City a non-exclusive right to enforce the contracts entered into
by the Developer with its contractor along with an assignment of all warranties given by the
contractor,whether express or implied. Further,Developer agrees that all contracts with any
contractor shall include provisions granting to the City the right to enforce such contracts as
an express intended third party beneficiary of such contracts.
O. Inspection and material testing fees are required as follows:
i. Developer shall pay in cash water and wastewater inspection fees and material
testing fees each equal to two percent (2%) for a total of four percent (4%) of the
Developer's share of the total construction cost as stated in the construction
contract.
ii. Developer shall pay in cash paving and storm drain inspection fees collectively
equal to four percent (4%) and material testing fees equal to two percent (2%) for
a total of six percent (6%) of the developer's share of the total construction cost as
stated in the construction contract.
iii. Developer shall pay in cash the total cost of streetlights or if the city is not installing
the streetlights, inspection fees equal to four percent(4%) of the developer's share
of the streetlight construction cost as stated in the construction contract.
iv. Developer shall pay in cash the total cost of street signs.
P. COMPLETION WITHIN 2 YEARS
i. Developer shall complete the Improvements within two (2) years, provided,
however, if construction of the Improvements has started within the two year
period, the Developer may request that the CFA be extended for one additional
year.
ii. The City may utilize the Developer's financial guarantee described in Section A of
this Agreement to cause the completion of the construction of the Improvements if
at the end of two (2) years from the date of this Agreement (and any extension
period) the Improvements have not been completed and accepted.
City of Fort Worth,Texas
Standard Community Facilities Agreement-Burnett Lofts
CFA Official Release Date:02.20.2017
Page 6 of 11
iii. The City may utilize the Developer's financial guarantee to cause the completion
of the construction of the Improvements or to cause the payment of costs for
construction of same before the expiration of two (2) years if the Developer
breaches this Agreement, becomes insolvent or fails to pay costs of construction.
Q. Developer acknowledges that in accordance with Chapter 2270 of the Texas Government
Code,the City is prohibited from entering into a contract with a company for goods or services
unless the contract contains a written verification from the company that it: (1) does not
boycott Israel; and (2) will not boycott Israel during the term of the contract. The terms
"boycott Israel" and "company" shall have the meanings ascribed to those terms in Section
808.001 of the Texas Government Code. By signing this contract, Developer certifies that
Developer's signature provides written verification to the City that Developer: (1) does not
boycott Israel; and(2) will not boycott Israel during the term of the contract.
IMMIGRATION AND NATIONALITY ACT. Developer shall verify the identity and
employment eligibility of its employees who perform work under this Agreement, including
completing the Employment Eligibility Verification Form (I-9). Upon request by City,
Developer shall provide City with copies of all I-9 forms and supporting eligibility
documentation for each of its employees who performs work under this
Agreement. Developer shall adhere to all Federal and State laws as well as establish
appropriate procedures and controls so that no services will be performed by any Developer
employee who is not legally eligible to perform such services. DEVELOPER SHALL
INDEMNIFY CITY AND HOLD CITY HARMLESS FROM ANY PENALTIES,
LIABILITIES, OR LOSSES DUE TO VIOLATIONS OF THIS PARAGRAPH BY
DEVELOPER, DEVELOPER'S EMPLOYEES, CONTRACTORS, AGENTS, OR
LICENSEES. City, upon written notice to Developer, shall have the right to immediately
terminate this Agreement for violations of this provision by Developer.
City of Fort Worth,Texas
Standard Community Facilities Agreement-Burnett Lofts
CFA Official Release Date: 02.20.2017
Page 7 of 11
Cost Summary Sheet
Project Name: Burnett Lofts
CFA No.: 18-0054 City Project No.: 101463
An Engineer's Estimate of Probable Cost is acceptable. However, the construction contract price
will ultimately determine the amount of CFA fees and financial guarantee. The bid price and
any additional CFA payments will be required prior to scheduling a pre-construction meeting.
An itemized estimate corresponding to each project-specific exhibit is required to support the
following information.
Items Developer's Cost
A. Water and Sewer Construction
1. Water Construction $ 180,777.00
2.Sewer Construction $ 155,097.00
Water and Sewer Construction Total $ 335,874.00
B. TPW Construction
1.Street $ 239,093.27
2.Storm Drain $ 106,300.00
3.Street Lights Installed by Developer $ 54,540.00
4. Signals $
TPW Construction Cost Total $ 399,933.27
Total Construction Cost(excluding the fees): $ 735,807.27
Construction Fees:
C. Water/Sewer Inspection Fee(2%) $ 6,717.48
D. Water/Sewer Material Testing Fee(2%) $ 6,71748
Sub-Total for Water Construction Fees $ 13,434 96
E. TPW Inspection Fee(4%) $ 13,815.73
F. TPW Material Testing(2%) $- 6,907 87•
G. Street Light Inspsection Cost $ 2,181.60
H. Signals Inspection Cost $
H. Street Signs Installation Cost $
Sub-Total for TPW Construction Fees $ 22,905120
Total Construction Fees: $ 36,340.16
Choice
Financial Guarantee Options,choose one Amount Mark one
Bond=100% $ 735,807.27
Completion Agreement=100%/Holds Plat $ 735,807: 7
Cash Escrow Water/Sanitary Sewer- 125% $ 419,842. 0
Cash Escrow Paving/Storm Drain=125% $ 499,916. 9
Escrow A reement=125% $ 919,759.29 1 X
City of Fort Worth,Texas
Standard Community Facilities Agreement-Burnett Lofts
CFA Official Release Date: 02.20.2017
Page 8 of 11
ACCORDINGLY, the City of Fort Worth and Developer 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
Burnett Lofts, LLC
✓�'ir�r"fez �,L'�i'"& a Texas limited liability company
Dana Burghdoff(O 11,2019
Dana Burghdoff By: Burnett Lofts FW Manager, LLC
Interim Assistant City Manager a Texas limited liability company
Date: Oct 11,2019 its managing member
Recommended by: k, �,rie�rlscti
R.Rhys Heinsch(Oct 9,2019)
Name: Rhys Heinsch
Evelyn Robe 5(Oct11,2019) Title: Vice President
Evelyn Roberts/Jennifer Ezemack
Project Assistant Date: Oct 9,2019
Planning and Development
Contract Compliance Manager:
Approved as to Form &Legality:
By signing, I acknowledge that I am the
person responsible for the monitoring and
Richard A.McCracken(Oct 11,2019) administration of this contract, including
Richard A. McCracken ensuring all performance and reporting
Assistant City Attorney requirements.
M&C No. N/A
Date: 1 , Jennifer naehalf of Janie Morales(Oct 11,2019)
A
RT .
Form 1295: NSA OF'"' • 10 Name: Janie Morales
• Title: Development Manager
ATTEST:
U —E
�� XaC
Mary Kayser(Oct 14,2019) 7
Mary J. Kayser/Ronald Gonzales
City Secretary/Assistant City Secretary
OFFICIAL RECORD
CITY SECRETARY
City of Fort Worth,Texas FT. WORTH,TX
Standard Community Facilities Agreement-Burnett Lofts
CFA Official Release Date: 02.20.2017
Page 9 of 11
Check items associated with the project being undertaken; checked items must be
included as Attachments to this Agreement
Included Attachment
® Attachment 1 -Changes to Standard Community Facilities Agreement
L Location Map
®_ Exhibit A: Water Improvements
® Exhibit A-1: Sewer Improvements
® Water and Sewer Cost Estimates
® Exhibit B: Paving Improvements
® Paving Cost Estimate
® Exhibit 13-1: Storm Drain Improvements
® Storm Drain Cost Estimate
® Exhibit C: Street Lights and Signs Improvements
® Street Lights and Signs Cost Estimate
(Remainder of Page Intentionally Left Blank)
City of Fort Worth,Texas
Standard Community Facilities Agreement-Burnett Lofts
CFA Official Release Date: 02.20.2017
Page 10 of 11
ATTACHMENT"I"
Changes to Standard Agreement
Community Facilities Agreement
City Project No. 101463
None.
City of Fort Worth,Texas
Standard Community Facilities Agreement-Burnett Lofts
CFA Official Release Date:02.20.2017
Page 11 of 11
00 42 43
DAP-BID Proposal
Page 1 of I
1
2 SECTION UO 42 43
3 Developer Awarded Projects-PROPOSAL FORM
4
5 UNIT PRICE BID Bidder's Application
6
Project Item Information Bidder's Proposal
Bidlist Item Specification Unit of Bid
No. Description Section No. Measure Quantity Unit Price Bid Value
UNIT I:WATER IMPROVEMENTS
1 241.1001 Water Line Groutina 0241 14 CY 686" 45.27 31 055.22
2 241.1218 4"-12"Water Abandonment Plug0241 14 I EA 2 905.50 1,811.0.0
3 0241.1013 Remove 8"Water Line_ 0241 14 LF _ 224, 14.81 3,317.44
4 241.1510.,Salvage Fire Hydrant 0241 14 �_ EA 1 716.00 716.001
5 _ 241.1512 Salvage 1 "Water Meter _ _ 0241 14 EA 71_ 460.901 3,226.30:
6 305.010 !ten h Safe _33 05 10_ _ LF 452 1.65 745.80`
7 _ 311.0001 Ductile Iron Water Fittings estraint 3311 11 TN .75 2744.00 2058.0
8 _ 3311.0061 4"PVC Water Pine 3311 12 LF 46 _,._....__._5 1.0 2. 643 00
9 311.0161 6"PVCWater Pi 3311 12 )_. LF 72 54.32 _ 3911.041
10 3311.0261 8"PVCWa er Pie 3311 12 LF 39' 60.90 2 375.10
11 311.0461 12"PVC Water Pie _ 33 11 12_.__ LF 291. 65.84' 19 422.80
12 3312.0001 Fire.Hvdrant 33 12 40 EA 2 403Z891 8,065 78
13 312.2203 2"Water Service __�_ 33 12 10 LF 22 1728.38jj 38 024.361
14 3312.2802 4"Water Meter and Vault _ _ 33 12 11 EA 1 12181.00+ 12.181.00
15 3312.2803 6"Water Meter and Vault � _ 33 12 11 EA 1 12757.00 ___.. 12.757.00
16. D12.3002 6"Gate Valve _ 33 12 20,_. _ EA 4. 905.34 3.621.361
17 3312.3003 8"Gate Valve _ 33 12 20 EA 1 13 9.QQ 1 399.00
18 3312.3005 12"Gate Valve 33 12 20 EA 1 2469.001 6 2
1 312.40 4 8"x 6"TaDniniz Sleeve&Valve 3 1225 EA _ 2 3991.00 - 7.982.00
20 312.4111 16"x 6"Tapping,; 33 12 25 _ EA 1 76 4.00 7.654.06
21 3312.4112 16"x 8"T LnDing Sleeve&Valve_ _ _ 33 12 25_ EA _ 1 7819.00� 7,819.00
22 312.4119 18"x 12"Tapping Sleeve&Valve 33 12 25 _ EA 1 7820.00 7.820.00
23
24
25
26
27
_29
30
31
33
35
36
37
38_
39
40
41
42
43
_ 44
45
TOTAL UNIT I: WATER IMPROVEMENTS 180 777.20
7
CITY OF FORT WORTH
STANDARD CONSTRUCTION BID FORM-DEVELOPER AWARDED PROJECTS 00 4243 Bid Proposal-DAP.docx
Form Revised April 2,2014
01 78 39-1
PROJECT RECORD DOCUMENTS
Page 1 of 3
1
2
Project Item Information Bidder's Proposal
Bidlist Item Specification Unit of Bid
No. Description Section No. Measure Quantity Unit Price Bid Value
UNIT II:SANITARY SEWER IMPROVEMENTS
1 241.2001 Sanilm Line Grouting___ 02 41 14 LE 6 _ 45. 0 -_ 270.00'
2 241.2013 Remove 8" Sewer Line 0241 14 IF 131 41.00 53 17 00
3 241.2103 8"Sewer Abandonment Plug0241 14 EA 3' 1100.00� 3300.00
i
4 241.2201 Remove 4'Sewer Manhole 0241 14 EA 3 1100'00 3300.00
5 301.0002 Post-CCTV Inspection 33 39 10 LF 521 3.0 10.0 563.00
6 3301.0101 Manhole Vacuum Testin 3301 30 EA 9 2.00 18.00
305.0109 Trench Safety 33 05 10 LF 521 10.00 5210.00'
8 3305.0112 Concrete Collar 33 05 17 EA 9 350.00! 3150.00
9 3305.0113 Trench Water Stops 33 05 15 EA 7 250.00' 1750.00
10 331 4115 8" ewer Pi e 33 31 20 LE 485' 110.00i 53350.00!
11 331.4116 8" Sewer Pie SS Backfill 3331 20 LF 36 437.50 15750.00
12 33 .0001 Epoxy Manhole Liner _ 33 39 60 EA 26 45.00 1170.00
13 3339.1001 4'Manhole 33 39 10 EA 8 5800.00 46400.00
14 339.1002 4'Drop Manhole 33 39 10 EA 1 8970.001 8970.00
15 .339 1003 4' Extra depth Manhole 33 39 10 . VF 13:__
16
17 _�..
18
20
21
22 _
23
24
25
2 _
27
28 _
29
30
32 _ - -
3
34
35
36
37 --_
38
39
40
41
42
43 -
44
45
TOTAL UNIT II: SANITARY SEWER IMPROVEMENTS 155 097.00
CITY OF FORT WORTH BURNETTLOFTS
STANDARD CONSTRUCTION SPECIFICATION DOCUMENTS 101463
Revised April 2,2014
017839-2
PROJECT RECORD DOCUMENTS
Page 2 of 3
1
2
Project Item Information Bidder's Proposal
BidlistItem Specifics ion Unit of Bid
No. Description Section i0. Measure Quantity Unit Price Bid Value
UNIT III: DRAINAGE IMPROVEMENTS
1 125.0101 WPPP > 1 acre _ 31 25 00 LS _ 1 5500.00' 5500.00
2 305.0109 Trench Safety 33 05 10 _LF 851 2.001 1702.00
3 3305.0112 Concrete Collar 330 17 EA 2 350.00 700.00
_ 4 3341.0201 21"RCP,Class III _ 33 41 10 LF 26 92.00 2392.00
5 3341.0205 24"RCP Class III 33 411 10 LF 825 99.00 81675.00
6 3349.0001 4'Storm Junction Box 33 49 10 EA 1 4671 00 4671.00
7 34 .5001 1 'C Inlet 334920 EA 2 4830.00 9660.00
8
10
11
12
13
14
]5
16
18
20
21
22
23 . ._
24
25
26
27
28
29
32
33
34
35
37
38 -
3
41 u.__.._-
42
43
44
45 _
TOTAL UNIT III: DRAINAGE IMPROVEMENTS 1 106 300.00
CITY OF FORT WORTH BURNETTLOFTS
STANDARD CONSTRUCTION SPECIFICATION DOCUMENTS 101463
Revised April 2,2014
01 78 39-3
PROJECT RECORD DOCUMENTS
Page 3 of 3
1
2
Project Item Information Bidder's Proposal
Bidlist Item Specification Unit of Bid
No. Description Section No. Measure Quantity Unit Price Bid Value
UNIT IV: PAVING IMPROVEMENTS
1 241.0100 Remove Sidewalk _ 0241 13 SF 72 3.33 239.76
2 241.1100 Remove Asphalt Pvmt 02 41 15 SY 916 26.73 24484.68
3 241.1000 Remove Cone Pvmt 0241 15 SY 61 44.56 2718.16
4 241.1300 Remove Cone Curb&Gutter _ 02 41 15 LF 784 11.14 8733.76
5 3110.0101 Site Clearine 31 1000 LS 1 31028.00 31028.00
6 3110.0103 12%18"Tree Removal 31 1000 EA _ 3 1336.67 4010.01
7 3201.0127 10'Wide As halt Pvmt Repair,Arterial 3261 17 LF 490 11.14 5458.60
_ 8 3201.0616 Conic Pvmt Re air Arterial/Industrial 3201 29 SY 157 80.00 12560.00
9 211.0400 )Hydrated Lime 3211 29_.�TN �_ 37 225.00 8325.00
10__ 211.0501 6"Lime Treatment 32 11 29 _ SY 2313 4.46 10315.98
11 212.0401 HMAC Transition v _32 12 16 TN 12 306.33 3675.96
12 3213.0101 6"Conc Pvmt 32 13 13 SY 344 6.68 2297.92
13 2213.0301 4"Conc Sidewalk 32 13 20 SF 9171 6.13 56218.23
Concre 14 213.0403 " te Driveway----- 32 13 20 SF 1759 7.80 13720.20
15_ �i213.0502 Barrier Free Ramp,Tvpe U-1 32 13 20 EA _ 2 1058.24 2116.48
16 b213.0503 Barrier Free Ram T e M-1 � 32 13 20_� EA _- 1 1058.24 1058.24
17 3213.0507 Barrier Free Ram T e P-2 32 13 20 EA 1 1058.24 1058.24
_ 18 3213.0700 Joint Sealant 32 1673 LF _1530 2.78 4253.40
19 214.0200 Brick Pvmt Repair _ 32 14 16 J SY w 143 83.55 11947.65
20 216.0101 6"Conc Curb and Gutter_ _ 32 16 13_�_ LF _ 1021 11.14 11373.94
21 217.0)01 4"SLD Pvmt Markin HAS W 32 17 23 LF_ _ 227 2.23 506.21
22 3217.0003 4"BRK Pvmt Markin HAS W ---( 32 17 23 LF _ _ 4Q 2.78 111.20
23 3217.0501 24" SLD Pvmt Marking HAE(W) . 32 17 23 LF_ 307 3.34 1025.38
24 217.4301 Remove 4"Pvmt Marking ___._. 32 17 23 LF -__ 1 72.00 72.00
_25 292.0100 Block Sod Placement _ J 32 92 13_ SY _ 460 9.58 4406.80
26 471.0001 Traffic Control------- _u_____3471 13. ._MO 12 556.97 6683.64
__ 27 _ 999.0001 Relocate Bike Share_--_ _ _ 00 00 00 EA_� _ 1 3898.79 3898.79
28 9999.0002 Burnett Enhanced Crosswalk Imp. 00 00 00 EA (' 2 2784.85 5569.70
29__.. 999.0003 Street Sign Poles&Si a e�. _ 00 00 00 _ EA 2 612.67 1225.34
32,
_ 35 ----
36
37
_38
39
40
41
42
44
45
TOTAL UNIT IV: PAVING IMPROVEMENTS1 239 093.27
CITY OF FORT WORTH BURNETT LOFTS
STANDARD CONSTRUCTION SPECIFICATION DOCUMENTS 101463
Revised April 2,2014
01 78 39-4
PROJECT RECORD DOCUMENTS
Page 4 of 3
1
2
Project Item Information Bidder's Proposal
Bidlist Item Description Specification Unit of Bid Unit Price Bid Value
No. Section No. Measure Quantity
UNIT V:STREET LIGHTING IMPROVEMENTS
1 , 605.0111 Furnish/Install Elec Sery Pedestal 26 05 00 EA -A— 1010.60 1010.60
2 2605.2101 Conduit Box 26 005 33 EA 4 299.48 1197.92
3 2605.3018 2"CONDT PVC SCH 80,O en Cut 26 05 33 LF 1715 11.12 19070.80
4 9999.0004 Public District Pedestrian Street Light 00 00 00 EA 22 1393.23 30651.06
5 9999.0005 Re lace Ex.Street Lights on Signal Pole 00 00 00 EA 2 812.86 1625.72
6 9999.0006 New Street Light on Power Pole 00 00 00 EA 1 983.99 983.99
7
8 r__
10
12
13
14
15
�16
17
18
19
2 ..v
21
22
23 _
24
25
2
_
27
28
29 _
0
32 -
_n _._.._._..____._. .._...._ _
33
35
36
37
38
3
40
41
t45
TOTAL UNIT V: STREET LIGHTING IMPROVEMENTS 54 540.09
CITY OF FORT WORTH BURNE77LOFTS
STANDARD CONSTRUCTION SPECIFICATION DOCUMENTS 101463
Revised April 2,2014
01 78 39-5
PROJECT RECORD DOCUMENTS
Page 5 of 3
1
Bid Summary
UNIT I: WATER IMPROVEMENTS 180,777.20
UNIT II: SANITARY SEWER IMPROVEMENTS 155,097.00
UNIT III: DRAINAGE IMPROVEMENTS 106,300.00
UNIT IV: PAVING IMPROVEMENTS 239,093.27
UNIT V: STREET LIGHTING IMPROVEMENTS 54,540.09
UNIT VI: TRAFFIC SIGNAL IMPROVEMENTS
Total Construction Bid 735 807.56
This Bid is submitted by the entity named below:
BIDDER: BY: Scott Theeringer
LINKS CONSTRUCTION
525 S. LOOP 288,STE. 105
DENTON,TX 76205 TIT r id t
DATE: `1
Contractor agrees to complete WORK for FINAL ACCEPTANCE within 775 days calendar days after the date when the
CONTRACT commences to run as provided in the General Conditions.
2
CITY OF FORT WORTH BURNETT LOFTS
STANDARD CONSTRUCTION SPECIFICATION DOCUMENTS 101463
Revised April 2,2014
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BURNETT LOFTS, FORT WORTH, TX of
CPN 101463 MAPSCO NO. 076D NOVEMBER 2018 6
o Aso 1500 a000
CATALYST] urban j engineers I group inc.
-URBAN DEVELOPMENT
7001 PRESTON ROAD,FIFTH FLOOR 167 turtle creek blvd., ste. a, dallas, texas 75219
( IN FEET ) DALLAS,TEXAS 75205 (214)252-1600 p (214)252-1612 f
1 inch = 1500 fir PHONE:214.796.6063 1 FIRM REGISTRATION No: F5332
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EXHIBIT A: WATER 2
BURNETT LOFTS, FORT WORTH, TX Of
CPN 101463 MAPSCO NO. 076D NOVEMBER 2018 6
0 50 100 200
CATALYST urban I engineers I group :n..
URBAN DEVELOPMENT
7001PRESTON ROAD,FIFTHFLOOR 167 turtle creek blvd., ste. a, dallas, texas 75219
( IN FEET ) DALLAS,TEXAS 75205 (214)252-1600 p (214)252-1612 f
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EXHIBIT A 1: SANITARY SEWER 3
BURNETT LOFTS, FORT WORTH, TX Of
CPN 101463 MAPSCO NO. 076D NOVEMBER 2018 6
100 200
CATALYST
urban engineers I group ins.
ZAN DEVELOPMENT-
7001PRESTON ROAD,FIFTH FLOOR 167 turtle creek blvd., ste. a, dalles, texas 75219
( IN FEET ) DALLAS,TEXAS 75205 (214)252-1600 p (214)252-1612 f
1 inch = 100 ft PHONE.214.796.6063 FIRM REGISTRATION NO: F5332
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EXHIBIT B: PAVING 4
BURNETT LOFTS, FORT WORTH, TX Of
CPN 101463 MAP NO. 076D NOVRMBER 2018 6
0 50 100 200
CATALYST urban engineers group inc.
URBAN DEVELOPMENT
7001 PRESTON ROAD,FIFTH FLOOR 167 turtle creek bivd., ste. a, dallas, texas 75219
( IN FEET ) DALLAS,TEXAS 75205 (214)252-1600 p (214)252-1612 f
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EXHIBIT B1: STORM DRAINAGE 5
BURNETT LOFTS, FORT WORTH, TX of
CPN 101463 MAPSCO N0. 076D NOVEMBER 2018 6
0 50 100 200
CATALYST urban IURBAN DEVELOPMENT engineers I group inc.
7001 PRESTON ROAD,FIFTH FLOOR 167 turtle creek blvd., ste. a, daiias, texas 75219
( IN FEET ) DALLAS,TEXAS 75205 (214)2 2-1600 P (214)252-1612 f
1 inch = 100 it PHONE:214.796.6063 FIRM RZGISTRATION No: F5332
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EXHIBIT Cl: STREET LIGHTS 6
BURNETT LOFTS, FORT WORTH, TX of
CPN 101463 MAPSCO NO. 076D NOVEMBER 2018 6
0 50 100 200
CATALYST urban engineers I group inc.
-URBAN DEVELOPMENT
7001 PRESTON ROAD,FIFTH FLOOR 167 turtle creek blvd., ste. a, dallas, texas 75219
( IN FEET ) DALLAS,TEXAS 75205 (214)252-1600 p (214)252-1612 f
1 inch = 100 ft. PHONE:214.796.6063 1 FIRM REGISTRATION No: F5332
Developer and Project Information Cover Sheet:
Developer Company Name: Burnett Lofts,LLC
Address, State,Zip Code: 7001 Preston Road,Fifth Floor,Dallas, TX 75205
Phone&Email: info@catalysturban.com l 214-446-3910
Authorized Signatory, Title: Rhys Heinsch,Vice President
Project Name and Brief Burnett Lofts-Water, Sewer,Paving, Storm Drain, Street Lights
Description:
Project Location: Temporary Address: 1012 Burnett Street,Fort Worth,TX 76102
Plat Case Number: Fs-15-089 Plat Name: NANCE'S ADDITION
Mapsco: <Mapsco> Council District: CD#9 City Project Number: 101463
CFA Number: 18-0054 DOE Number: 101463
City of Fort Worth,Texas
Escrow Pledge Agreement
CFA Official Release Date:07.01.2015
Page 1 of 10
ESCROW AGREEMENT
THIS ESCROW AGREEMENT (the"Agreement"), entered into as of this day of
, 20_5 by and among Burnett Lofts, LLC, ("Developer"), the City of Fort Worth, a
Texas municipal corporation ("Fort Worth") and Commonwealth Land Title Insurance Company
("Escrow Agent") is to witness the following:
WHEREAS, Developer and Fort Worth have entered into a Community Facilities
Agreement for Burnett Lofts (CFA# 18 0054, DOE# 101463, City Secretary No. ,) in
the City of Fort Worth, Tarrant County, Texas (the "CFA"); and
WHEREAS, the CFA provides that Developer shall submit to Fort Worth performance
bonds, cash deposits or other financial security acceptable to Fort Worth (collectively, the
"Financial Security") for the purpose of guaranteeing satisfactory compliance by Developer with
all requirements, terms, and conditions of the CFA(the"CFA Obligations"); and
WHEREAS, Developer and Fort Worth desire and agree that Developer be allowed to
escrow and pledge cash deposits to Fort Worth, to be held by Escrow Agent, as an escrow agent,
in complete satisfaction of the obligation to submit the Financial Security to secure the
performance of the CFA Obligations.
NOW THEREFORE, for and in consideration of these recitals, ten dollars ($10.00) and
other good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby
acknowledged, the parties hereto hereby agree as follows:
SECTION 1. DEFINED TERMS.
For the purposes of this Agreement, unless the context otherwise clearly requires, the
following terms shall have the following meanings:
"Security Funds" shall mean the cash deposit of Nine Hundred Nineteen Thousand Seven
Hundred Fifty-Eight and 75/100 Dollars ($ 919,758.75), which sum represents one
hundred twenty-five percent(125%) of the estimated Developer's cost of constructing the
CFA Obligations (the"Estimated Developer's Cost").
"Lien" shall mean any lien, security interest, charge, tax lien, pledge or encumbrance
designed to secure the repayment of indebtedness or the satisfaction of any other obligation
to a third party not a party of this Agreement.
SECTION 2. SECURITY FUNDS.
As financial security for the full and punctual performance of the CFA Obligations,
Developer hereby pledges, assigns, and transfers to Fort Worth, and hereby grants to Fort Worth
a security interest in the Security Funds and all rights and privileges pertaining thereto with the
exception of the interest income to be derived therefrom (which interest income shall remain the
City of Fort Worth,Texas
Escrow Pledge Agreement
CFA Official Release Date:07.01.2015
Page 2 of 10
property of Developer and shall be distributed by Escrow Agetit in accordance with Developer's
periodic instructions) subject, however, to the terms, covenants, and conditions hereinafter set
forth. The security interest granted and the assignments made hereunder are made as security only
and shall not subject the City of Fort Worth or Escrow Agent to, or transfer or in any way affect
or modify, any obligation of Developer with respect to the CFA Obligations or any transaction
involving or giving rise therefrom.
SECTION 3. PHYSICAL POSSESSION OF SECURITY FUNDS.
Concurrently with the execution of this Agreement, Developer shall have delivered to and
deposited with Escrow Agent the Security Funds. The parties acknowledge and agree that Escrow
Agent shall be required to segregate the Security Funds from other funds held by Escrow Agent
for Developer in accordance with the normal practices of Escrow Agent acting as an escrow agent.
Escrow Agent shall return all funds on deposit representing or evidencing the Security Funds
remaining in its possession to Developer(or take such other action as Developer may request or
direct) immediately after receipt of written notice from Fort Worth that the CFA Obligations have
been fully performed. During such time as Escrow Agent has possession of the Security Funds,
Escrow Agent shall furnish to the City of Fort Worth (when requested by Fort Worth) written
acknowledgments signed by an officer of Escrow Agent detailing the amount of the Security
Funds. Fort Worth's rights in the Security Funds shall be superior to those of Escrow Agent's
notwithstanding any terms or understandings (written or otherwise) between Developer and
Escrow Agent.
SECTION 4. COVENANTS.
(a) Affirmative Covenants. So long as any of the CFA Obligations remain unperformed,
Developer covenants and agrees that Developer will:
(i) from time to time execute and deliver to Fort Worth all such assignments,
certificates, supplemental writings, and oth items and do all other acts or
things as Fort Worth may reasonably reques�in order to evidence and perfect
the security interest of Fort Worth in the Security Funds;
(ii) furnish Fort Worth with information which Fort Worth may reasonably request
concerning the Security Funds;
(iii) notify Fort Worth of any claim, action, or proceeding affecting title to the
Security Funds or Fort Worth's security interest(s) therein; and
(iv) adjust the Security Funds to an amount equal to the actual contract price,
including revisions thereto, if the original Security Funds were based on an
engineer's estimate of costs.
(b) Negative Covenants. So long as any of the CFA Obligations remain unperformed,
Developer covenants and agrees that Developer will not:
City of Fort Worth,Texas
Escrow Pledge Agreement
CFA Official Release Date:07.01.2015
Page 3 of 10
(i) assign or transfer any rights of Developer in the Security Funds; or
(ii) create any Lien in the Security Funds, or any part thereof, or permit the same to
be or become subject to any Lien except the security interest herein created in
favor of Fort Worth.
SECTION 5. EVENTS OF DEFAULT.
Developer shall be in default under this Agreement only upon the happening of any of the
following events (a"Default"):
(a) default in the timely payment for or performance of the CFA Obligations after written
notice thereof has been given to Developer and Escrow Agent and such default is not
cured within seven(7) days after such notice;
(b) any affirmative or negative covenant is breached by Developer.
SECTION 6. RIGHTS AND REMEDIES OF FORT WORTH UPON AND AFTER
DEFAULT.
(a) Remedy. Upon the occurrence of a Default, Fort Worth shall have the right to direct
Escrow Agent to transfer to Fort Worth all of the Security Funds. Escrow Agent is
hereby authorized to transfer the Security Funds immediately upon the receipt of a
written statement purporting to be executed by an authorized representative of Fort
Worth stating that:
(i) a Default by Developer has occurred related to the CFA Obligations;
(ii) written notice of such Default has been given by Fort Worth to Developer and
Escrow Agent and such Default was not cured within seven (7) days after
delivery of such notice; and
(iii) Fort Worth is entitled to have the Security Funds transferred in accordance with
the Agreement.
(b) Notices.Any notice required or permitted to be given to any party hereto shall be given
in writing, shall be personally delivered or mailed by prepaid certified or registered
mail,or emailed to such party at the address set forth below,and shall be effective when
actually received.
To Developer:
Burnett Lofts, LLC
Attention: Rhys Heinsch,Vice President
7001 Preston Road, Fifth Floor
Dallas , Texas 72Q5
City of Fort Worth,Texas
Escrow Pledge Agreement
CFA Official Release Date: 07.01.2015
Page 4 of 10
Email: rheinsch@catalysturban.com
To: Escrow Agent:
Commonwealth Land Title Insurance Company
Attention: Patrick N. Jackson,Attorney—
Commercial Escrow Officer
5949 Sherry Lane, Suite 111
Dallas , Texas 75225
Email: PJackson@commonwealthtexas.com
To: City of Fort Worth
City Of Fort Worth
Attn: City Treasurer
1000 Throckmorton
Fort Worth, TX 76102
With a copy to:
City of Fort Worth
Attn: CFA Administration
1000 Throckmorton
Fort Worth, TX 76102
Email: Evelyn.Roberts@fortworthtexas.gov
Any party may change its address for notice by giving all other parties hereto notice to such
change in the manner set forth in this Section no later than ten (10) days before the effective date
of such new address.
SECTION 7. EXCLUSIVE RIGHTS AND REMEDIES.
If the Developer fails to perform its obligations under the CFA, Fort Worth's sole and
exclusive remedy shall be to complete the obligations of Developer at Developer's expense. In
furtherance of such sole and exclusive remedy, Fort Worth is entitled to exercise its rights as set
forth in Section 6 hereof.
SECTION 8. SUBSTITUTION OF COLLATERAL.
Notwithstanding any contrary provision in this Agreement,Developer shall have the right,
at any time and from time to time, to obtain releases of all or any part of the Security Funds
(hereinafter called the "Released Collateral")upon satisfaction of the following conditions:
(a)Developer shall provide Fort Worth and Escrow Age lt written notice(the"Substitution
Notice") that the Developer desires to obtain Released Collateral in exchange for a
City of Fort Worth,Texas
Escrow Pledge Agreement
CFA Official Release Date:07.01.2015
Page 5 of 10
contemporaneous substitution of an alternate Financial Security acceptable to Fort
Worth (as specified and described in the Substitution Notice); and
(b) Developer shall pledge to, or obtain for the benefit of Fort Worth, and deliver to Fort
Worth the alternate Financial Security acceptable to Fort Worth (the "Substituted
Collateral") which Substituted Collateral shall in the aggregate be at least equal to the
Estimated Developer's Cost; and
(c) Said Substituted Collateral shall be of sufficient amount(s)to cover all work which has
occurred prior to the substitution of collateral provided for in this Section.
Upon satisfaction of the above-specified conditions, Escrow Agent shall be authorized
(without the further consent of Fort Worth) to return to Developer the original Security Funds in
Escrow Agent's possession that represent or evidence the Released Collateral or take such other
action with respect to the Released Collateral as Developer may request or direct. Developer shall
pay the expenses incurred by Escrow Agent In connection with obtaining each such release and
substitution.
SECTION 9 PERIODIC WITHDRAWAL OF COLLATERAL.
Notwithstanding any contrary provision in this Agreement, Developer shall have the right to
periodic withdrawals of the Security Funds (hereinafter called the "Withdrawn Collateral"),upon
satisfaction of the following conditions:
(a) Developer shall provide the City of Fort Worth and Escrow Agent with written notice
(the "Withdrawal Notice") that Developer desires to obtain the Withdrawn Collateral
in any amount less than or equal to the then-completed CFA Obligations as inspected
or accepted by Fort Worth; and
(b) the balance of the Security Funds after withdrawal of the Withdrawn Collateral is at
least equal to the estimated value of the CFA Obligations then remaining to be
performed (such remaining value is hereinafter called the "Estimated Cost to
Complete").
The Withdrawal Notice shall include a description of the Withdrawn Collateral and Developer's
calculation of the Estimated Cost to Complete.Upon receipt of the Withdrawal Notice,Fort Worth
shall have seven (7) calendar days to notify Developer of Fort Worth's objection to Developer's
calculation of the Estimated Cost to Complete by providing Developer with Fort Worth's
calculation of the Estimated Cost to Complete. The grounds for any objection are limited solely to
a good faith determination by Fort Worth that the balance of the Security Funds is insufficient to
cover the Estimated Cost to Complete. If Fort Worth fails to timely notify Developer and Escrow
Agent of any objection, then Developer's calculation shall be deemed to have been accepted and
approved by the City of Fort Worth and Escrow Agent is authorized to release the Withdrawn
Collateral requested by Developer without delay. In the event a written objection is timely filed by
Fort Worth and Fort Worth's calculation is within a range of five percent (5%) of Developer's
Estimated Cost to Complete, then Developer shall be allowed to withdraw the amount
City of Fort Worth,Texas
Escrow Pledge Agreement
CFA Official Release Date:07.01.2015
Page 6 of 10
corresponding to Fort Worth's calculation of the Estimated Cost to Complete. If Fort Worth's
calculation of the Estimated Cost to Complete is outside a range of five percent (5%) of
Developer's Estimated Cost to Complete, then Fort Worth and Developer, through a designated
representative, will reconcile the calculations and jointly approve an Estimated Cost to Complete
and advise Escrow Agent to disburse the amount as jointly determined.
If after the expiration of two (2) years from the date of this Agreement either:
(i) none of the CIA Obligations have been performed; or
(ii) there has been partial performance but the term of the CIA has not been extended
by Fort Worth; then
in either event, the City of Fort Worth shall be entitled to receive the Security Funds as specified
in Section 6 and construct the improvements contemplated in the CIA.
SECTION 10. NON-ACCESSIBILITY OF FORT VVORTH'S RIGHTS.
The rights,powers,and interests held by Fort Worth hereunder in and to the Security Funds
may not be transferred or assigned by Fort Worth in whole or in part. Any attempted transfer or
assignment shall be absolutely void and shall entitle Developer to a release of all Security Funds.
SECTION 11. NO WAIVER.
No waiver by Fort Worth of any Default shall be deemed to be a waiver of any other
subsequent Default. No delay or omission by Fort Worth i n exercising any right or power
hereunder shall impair any such right or power or be construed as a waiver thereof, nor shall any
single or partial exercise of any such right or power preclude other or further exercise thereof.
SECTION 12. BINDING EFFECT.
This Agreement shall be binding on the parties,their successors and assigns.No provision
of this Agreement may be amended, waived, or modified except pursuant to a written instrument
executed by Fort Worth, Escrow Agent and Developer.
SECTION 13. CHOICE OF LAW.
This Agreement is to be construed and interpreted in accordance with the laws of the State
of Texas.
SECTION 14. COUNTERPARTS.
This Agreement may be executed in any number of multiple counterparts and by different
parties on separate counterparts,all of which when taken togetb e r shall constitute one and the same
agreement.
City of Fort Worth,Texas
Escrow Pledge Agreement
CFA Official Release Date: 07.01.2015
Page 7 of 10
SECTION 15. INDEMNITY.
Developer hereby agrees to release, hold harmless, and indemnify Escrow Agent(and
its directors, officers, employees, agents and representatives) from and against all claims,
damages, expenses, costs, suits and other liability of any kind whatsoever that arise out of or
are directly or indirectly related to the performance by Escrow Agent of its duties hereunder
except for the gross negligence or willful misconduct of Escrow Agent or its directors,
officers, employees, agents or representatives and Developer hereby agrees to release, hold
harmless,and indemnify Fort Worth(and its respective directors,officers,employees,agents
and representatives) from and against all claims, damages, expenses, costs, suits and other
liability of any kind whatsoever that arise out of or are directly or indirectly related to any
actions or inaction by Fort Worth with respect to this Agreement.
SECTION 16. PAYMENT OF ESCROW FEES
Developer will be responsible for the payment of all fees to Escrow Agent associated with
this Agreement.
REMAINDER OF THIS PAGE INTENTIONALLY BLANK
City of Fort Worth,Texas
Escrow Pledge Agreement
CFA Official Release Date: 07.01.2015
Page 8 of 10
ACCORDINGLY,the City of Fort Worth,Developer aid Escrow Agent 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 tile City Manager or his/her designee.
CITY OF FORT WORTH DEVELOPER
Burnett Lofts,LLC
,Znwa�v l- By: Burnett Lofts FW Manager,LLC
Dana Burghdoff(0 11,2019 a Texas limited liability company
Dana Burghdoff its managing member
Interim Assistant City Manager
Date: Oct 11,2019
R.Rhys Hei`�nsch(Oct 9,2019)
Approved at to Form &Legality
Name: Paris Rutherford/Rhys Heinsch
Title: Vice President
Date: Oct 9,2019
Richard A.McCracken(Oct 11,2019)
Richard A. McCracken
Sr. Assistant City Attorney
M&C No. N/A ESCROW AGENT
Date: Commonwealth Land Title Insurance Company
ATTEST: FORT
.d �•;•• Pafri�K JracKson
•,•O Patrick Jackson(Oct 11,2019)
Name: Patrick N. Jackson
?= Title: Attorney—Commercial Escrow Officer
Mary Kayser(Oct 14,2019) .16
Mary J. Kayser Date: Oct 11,2019
City Secretary
AS
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
r�.ir ements.
Janie S. Morales
OFFICIAL RECORD
City of Fort Worth,Texas CITY SECRETARY
Escrow Pledge Agreement FT. WORTH,TX
CFA Official Release Date: 07.01.2015
Page 9 of 10
ATTACHMENT "V
Changes to Standard Agreement
Escrow Pledge Agreement
The first paragraph of Section'6(a) is hereby deleted in its#tirety and#mended to state the
following;however,no revision is hereby.4 'to Section 6(a)(I)'(zii):
"Remedy.Upon the occurrence of a Default, Fort Worth shall have the right to direct Escrow
Agent to transfer to Fort Worth such portion of the Security Funds that Fort Worth reasonably
determines is necessary to cure such Default. Escrow Agent is hereby authorized to transfer the
Security Funds immediately upon the receipt of a written statement execued by an authoozed
representative of Fort Worth stating that:"
TI sc last clause of Section 9, immediately following Section 9(ii), is hereby deleted in its ctitircty
anti amended to state the following:
"in either event,the City of Fort Worth shall be entitled to receive the portion of the Security
Funds reasonably necessary to cure any Default as specified in Section 6 and construct the
improvements contemplated in the CFA."
Section 5 of this Agreement is hereby revised to add the following:
"In the event that Developer shall be delayed,hindered in,.or prevented from the performance of
any act required hereunder by reason of an act of God, strike,.lockout, labor trouble, inability to
procure materials, unseasonable weather affecting construction or operation, failure of power,
riot, insurrection, or war,then performance of such act shall be"'excused for the period of the
delay and the period for the performance of any*such act shall be extended for a period equal to
the period of such delay and no Default will have occurred until said extended period has
expired."
City of Fort Worth,Texas
Escrow Pledge Agreement
CFA Official Release Date:07.01.2015
Page 9 of 10