HomeMy WebLinkAboutContract 51678-A1 10/28/19
9:09 AM
CITY SECRETARY CONTRACT NO.51678-Al
FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 51678
A COMMUNITY FACILITIES AGREEMENT BETWEEN
THE CITY OF FORT WORTH AND
CKK RESIDENTIAL GROUP,INC.
This FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 51678
("First Amendment"),is made and entered into by and between the City of Fort Worth ("City"),
a home-rule municipal corporation of the state of Texas, CKK Residential Group, Inc.
("Developer"), a Texas corporation, and Simmons Bank("Lender").
WHEREAS, City and Developer entered into a Community Facilities Agreement by
which Developer is constructing certain public infrastructure Improvements for a Project generally
described as Lakes of River Trails Phase 16 ("CFA"); and
WHEREAS, the City, Developer and Lender executed a completion agreements as the
financial guarantee for the CFA("Completion Agreement"); and
WHEREAS, the CFA and the Completion Agreement are on file with the City Secretary
as City Secretary Contract Number 51678; and
WHEREAS,Developer has constructed a portion of the Community Facilities required by
the CFA; and
WHEREAS, Developer has requested to replace the Completion Agreement with a cash
escrow as the financial guarantee for the remaining Community Facilities that Developer will
construct pursuant to the CFA;
NOW THEREFORE, City, Developer, and Lender acting herein by and through their
duly authorized representatives, enter into the following agreement, which amends City Secretary
Contract No. 51678:
1.
City Secretary Contract No. 51678 is hereby amended to add Section S. to the CFA to be
and read as follows:
S. Developer and City agree that Developer may replace the Completion Agreement
with a Cash Escrow in the amount of $16,562.50 as the financial guarantee for the
remaining Community Facilities to be constructed pursuant to the CFA, which amount
equals one hundred twenty-five percent of the remaining Community Facilities to be
constructed by Developer. Contemporaneous with delivery of this First Amendment being
executed by Developer and delivered to City, Developer shall deliver the Cash Escrow to
the City.
City of Fort Worth,Texas
Amendment Number 1 to City Secretary Contract No.51678
Pagel of 3
2.
Upon execution of this First Amendment, City agrees to release the hold on the final plat
related to the CFA described in Section 6 of the Completion Agre ment. City and Developer agree
that there may be other holds on the final plat not related to the CFA that must be cleared by
Developer before the final plat can be filed.
3.
Upon execution of this First Amendment the Completion Agreement is terminated.
4.
a. All other provisions of the City Secretary Contract Number 51678,which are not expressly
amended herein, shall remain in full force and effect.
b. All terms in this First Amendment that are capitalized, but not defined, shall have the
meanings ascribed to those terms in City Secretary Contract Number 51678.
[SIGNATURES ON FOLLOWING PAGE]
City of Fort Worth,Texas
Amendment Number 1 to City Secretary Contract No.51678
Page 2 of 3
IN TESTIMONY WHEREOF,the City,Developer, and Lender have executed this First
Amendment to be effective on the date signed by the City's Interim Assistant City Manager.
CITY OF FORT WORTH DEVELOPER
CKK Residential Group, Inc.
z, K'ey4ak NeweCG
Kenneth -. _..
Dana Burghdoff
Interim Assistant City Manager Kenneth Newell
President
Date: Oct 25,2019
Date: Oct 23,2019
Recommended by:
41N, ATTEST: (Only if required by Developer)
Evelyn Robe (Oct 23,2019I
Evelyn Roberts/Jennifer Ezernack
Project Assistant
Planning and Development Name:
Approved as to Form &Legality: LENDER
Simmons Bank
Richard A.McCracken(Oct 23,2019) ,7ohn Van Son
Richard A. McCracken John Van Son(Oct 23,2019)
Sr. Assistant City Attorney Name: John M. Vanson
M&C No. NSA Title: Sr. Vice President-Commercial
Date: Lending
Form 1295: NIA
0R7-� Date: Oct 23, 2019
ATTEST: ;
V 3 " Contract Compliance Manager:
Mary J.K r(oc ,2019) '•. By signing, I acknowledge that I am the
Mary J. Kayser person responsible for the monitoring and
City Secretary '�.. CP+S administration of this contract, including all
performance and reporting requirements.
e Scarlett Morales(0ct 23,2019)
Name: Janie Scarlett Morales
Title: Development Manager
OFFICIAL RECORD
City of Fort Worth,Texas
Amendment Number 1 to City Secretary Contract No.51678 CITY SECRETARY
Page 3 of 3 FT WORTH,TX