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AMENDMENT NO. 1 TO
FUTURE IMPROVEMENTS ESCROW AGREEMENT
CITY SECRETARY CONTRACT NO.
WHEREAS, the City of Fort Worth ("City") and Pulte Homes of Texas, L.P. ("Developer") entered into a
Community Facilities Agreement, City Secretary Contract No.41854 ("CFA") and corresponding Future Improvements
Escrow Agreement, City Secretary Contract No. 41894 "Escrow Agreement") describing certain "Improvements" to be
constructed by City; and
WHEREAS, notwithstanding the terms of the Escrow Agreement, Developer elected to construct some or all of
the Improvements; and
WHEREAS, it has become necessary to execute Amendment No. 1 to the Escrow Agreement to allow
Developer to draw down the funds as construction of the Improvements takes place; and
WHEREAS, the City may withhold up to five percent of the requested draw -down as security for completion of
the Improvements.
NOW THEREFORE, City and Developer, acting herein by and through their duly authorized representatives,
enter into the following agreement, which amends the Escrow Agreement:
I.
Section 1. of the Escrow Agreement shall be amended to allow the Developer to construct some or all of the
Improvements, at Developer's sole election.
II.
Section 2. of the Escrow Agreement shall be amended to allow Developer to seek reimbursement from City for
work completed on the Improvements, but only up to the amount escrowed. City has the right to inspect and accept or
reject any work by Developer prior to authorizing a reimbursement to Developer. City also has the right to withhold up
to five percent (5%) of the reimbursement request amount; to be released upon final acceptance of the Improvements.
All other provisions of the Escrow Agreement which are not expressly amended herein, shall remain in full
force and effect.
EXECUTED and effective as of the date last written by a signatory hereto.
ESCROW AGREEMENT AMENDMENT NO. 1
Project: West Fork Ranch Ph. 1
Page 1 of 2
SIGNATURE PAGE TO FOLLOW
IN
OFFICIM RECORD
m . P(~rl'ARY
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DEVELOPER:
By: Pulte Homes of Texas, L.P.
By: Pulte Nevada I, LLC
its general partner
Name:
Title:
vP of Laid Deat&Me"
Date: 1f 1V/3
e,W Oneore
M&C: 4/4
Date: Douglas W. Black
Assistant City Attorney
CITY OF FORT WORTH:
Fernando Costa,
Assistant City Manager
Date: 2/13/13
APPROVAL RECOMMENDED:
Tr. - - : •rtation & Public Works
lem-VDouglas . Wiersig, P.E.
Director
APPROVED AS TO FORM
Al•ID L ALI Y:
•
ESCROW AGREEMENT AMENDMENT NO. 1
Project: West Fork Ranch Ph. 1
Page 2 of 2
ATTE(
aiy/J. Kayser
City Secretary
OFFICIAL RECORD
CITY SECRETARY
Ft woRTh, TX