HomeMy WebLinkAboutContract 44226 (2)§Fettlqn FEri 2o ars
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CONTRACT NO.
COMPLETION AGREEMENT
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This Completion Agreement ("Agreement"), is made and entered
into by and between the City of Fort Worth, ("City") a nd First Texas
Homes, Inc, 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 15.129 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 012-046 as approved by the City on
or before the date of this Agreement ("Plat"); and
WHEREAS, the Developer and the City have entered into a
Community Facilities Agreement (CFA # 2013-004; M&C N/A) relating
to the development, Presidio West, Phase III, for Paving, Drainage,
Water, Sewer and Lighting Improvements ("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.
OFFICIAL RECORD
nt177 SECRETARY
. WORTEIU TV
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 Seven Hundred Twenty One Thousand Four Hundred
Ninety Dollars & Forty Nine Cents ($721,490.49), hereinafter
called the "Completion Amount". Notwithstanding the 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 Requirements. 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.
COMPLETION AGREEMENT
SELF FUNDED
Revised January 2012
Page 2 of 9
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 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.
COMPLETION AGREEMENT
SELF FUNDED
Revised January 2012
Page 3 of 9
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:
and/or
City of Fort Worth
Planning & Development Department
1000 Throckmorton Street
Fort Worth, Texas 76102
Attention: CFA Division
David Schroeder, Development Manager
Email: David.Schroeder(&fortworthgov.org
Confirmation Number: 817-392-2239
Attention: CFA Division
Jana Knight, Administrative Assistant
Email: Jana.Knight(a,fortworthgov.org
Confirmation Number: 817-392-2025
With a copy thereof addressed and delivered as follows:
City of Fort Worth
1000 Throckmorton Street
Fort Worth, Texas 76102
Attention: Douglas W. Black
Assistant City Attorney
Telecopy Number: 817-392-8359
Confirmation Number: 817-392-7600
COMPLETION AGREEMENT
SELF FUNDED
Revised January 2012
Page 4 of 9
(ii) Notice to the Developer shall be addressed and
delivered as follows:
First Texas Homes, Inc.
Attention: Keith Hardesty
500 Crescent Court, Suite 350
Dallas, TX 75201
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.
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.
COMPLETION AGREEMENT
SELF FUNDED
Revised January 2012
Page 5 of 9
Executed IN QUADRUPLET by the Parties hereto:
DEVELOPER: Pirs-I re/cos po,‘,
Name ittitia. HarcA4i
Title: Divi)/m ts(di 40(---
Date:
21i y/2o 6
APPROVED AS TO FORM:
Do gas W. Black
Assistant City Attorney
AT T•
Mary J. K
City Secretary
M&C:
Date:
COMPLETION AGREEMENT
SELF FUNDED
Revised January 2012
Page 6 of 9
CITY OF FORT WORTH:
Fernando Costa
Assistant City Manager
Date:
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OFFICIAL RECORD
( CITY SECRETARY
FtWORTH9TX
EXHIBIT A -
EXHIBIT B -
COMPLETION AGREEMENT
SELF FUNDED
Revised January 2012
Page 7 of 9
LIST OF EXHIBITS
LEGAL DESCRIPTION
APPROVED BUDGFT
EXHIBIT A
LEGAL DESCRIPTION
COMPLETION AGREEMENT
SELF FUNDED
Revised January 2012
Page 8 of 9
EXHIBIT "A"
LEGAL DESCRIPTION
BEING A 15.129 ACRE TRACT OF LAND SITUATED IN THE JOSIAH WALKER
SURVEY, ABSTRACT NO 1600, CITY OF FORT WORTH, TARRANT COUNTY,
TEXAS, AND BEING A PORTION OF A TRACT OF LAND CONVEYED TO FIRST
TEXAS HOMES INC., AS RECORDED IN COUNTY CLERK'S FILE NO.
D210260522, OFFICIAL PUBLIC RECORDS TARRANT COUNTY, TEXAS, SAID
15.129 ACRE TRACT WITH REFERENCE BEARING BEING THE RECORDED
PLAT OF THE PRESIDIO WEST ADDITION, AN ADDITION TO THE CITY OF
FORT WORTH, AS RECORDED IN CABINET A SLIDE 11771, PLAT RECORDS,
TARRANT COUNTY, TEXAS, AND BEING MORE PARTICULARLY DESCRIBED
BY METES AND BOUNDS AS FOLLOWS:
BEGINNING AT A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP
STAMPED ` JACOBS ' SET FOR THE NORTHWEST CORNER OF THE PRESIDIO
WEST ADDITION, AN ADDITION TO THE CITY OF FORT WORTH, AS
RECORDED IN DOCUMENT NO. D212253025, PLAT RECORDS, TARRANT
COUNTY, TEXAS, SAID POINT BEING ON THE WEST LINE OF SAID FIRST
TEXAS HOMES, INC. TRACT AND THE EAST LINE OF TRACT OF LAND
CONVEYED TO MARION DALE & DORIS RETTING, AS RECORDED IN
VOLUME 7630, PAGE 1011, DEED RECORDS, TARRANT COUNTY, TEXAS;
THENCE, NORTH 00 DEGREES 06 MINUTES 41 SECONDS EAST, ALONG THE
WEST LINE OF SAID FIRST TEXAS HOMES, INC. TRACT AND THE EAST LINE
OF SAID MARION DALE & DORIS RETTING TRACT, A DISTANCE OF 637.89
N'EET TO A 5/8 INCH IRON ROD FOUND FOR THE NORTHWEST CORNER OF
SAID FIRST TEXAS HOMES, INC. AND THE SOUTHWEST CORNER OF A
TRACT OF LAND CONVEYED TO MARION DALE & DORIS RETTING, AS
RECORDED IN VOLUME 9322, PAGE 518, DEED RECORDS, TARRANT
COUNTY, TEXAS;
THENCE, SOUTH 88 DEGREES 36 MINUTES 54 SECONDS EAST, ALONG THE
NORTH LINE OF SAID FIRST TEXAS HOMES, INC. TRACT AND THE SOUTH
LINE OF SAID MARION DALE & DORIS RETTING TRACT AND THE SOUTH
LINE OF A TRACT OF LAND CONVEYED TO EDWARD McDONALD, ET AL, AS
RECORDED IN VOLUME 10865, PAGE 1679, DEED RECORDS, TARRANT
COUNTY TEXAS, A DISTANCE OF 916.99 FEET TO A 5/8 INCH IRON ROD
WITH YELLOW PLASTIC CAP STAMPED "JACOBS" SET FOR CORNER,
THENCE, OVER AND ACROSS SAID FIRST TEXAS HOMES, INC. TRACT, THE
FOLLOWING COURSES AND DISTANCES
SOUTH 01 DEGREES 23 MINUTES 06 SECONDS WEST, A DISTANCE OF
175.52 FEET TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP
STAMPED 'JACOBS" SET FOR CORNER;
Page 1 of 3
SOUTH 46 DEGREES 23 MINUTES 06 SECONDS WEST, A DISTANCE OF
6 34 FEET TO A 5/8" IRON ROD WITH YELLOW PLASTIC CAP STAMPED
"JACOBS" SET FOR CORNER;
SOUTH 01 DEGREES 23 MINUTES 06 SECONDS WEST, A DISTANCE OF
55.00 FEET TO A 5/8" IRON ROD WITH YELLOW PLASTIC CAP
STAMPED "JACOBS" SET FOR CORNER;
SOUTH 88 DEGREES 36 MINUTES 54 SECONDS EAST, A DISTANCE OF
110.00 FEET TO A 5/8" IRON ROD WITH YELLOW PLASTIC CAP
STAMPED 'JACOBS" SET FOR CORNER;
SOUTH 01 DEGREES 23 MINUTES 06 SECONDS WEST, A DISTANCE OF
117.80 FEET TO A 5/8" IRON ROD WITH YELLOW PLASTIC CAP
STAMPED 'JACOBS" SET FOR CORNER;
SOUTH 14 DEGREES 15 MINUTES 29 SECONDS EAST, A DISTANCE OF
52.97 FEET TO A 5/8" IRON ROD WITH YELLOW PLASTIC CAP
STAMPED "JACOBS" SET FOR CORNER;
SOUTH 27 DEGREES 39 MINUTES 06 SECONDS EAST, A DISTANCE OF
359.95 FEET TO A 5/8" IRON ROD WITH YELLOW PLASTIC CAP
STAMPED 'JACOBS" SET FOR CORNER;
SOUTH 62 DEGREES 20 MINUTES 54 SECONDS WEST, A DISTANCE OF
110.00 FEET TO A 5/8" IRON ROD WITH YELLOW PLASTIC CAP
STAMPED 'JACOBS" SET FOR CORNER;
SOUTH 27 DEGREES 39 MINUTES 06 SECONDS EAST, A DISTANCE OF
21.56 FEET TO A 5/8" IRON ROD WITH YELLOW PLASTIC CAP
STAMPED "JACOBS" SET FOR CORNER;
SOUTH 62 DEGREES 20 MINUTES 54 SECONDS WEST, A DISTANCE OF
55.50 FEET TO A 5/8" IRON ROD WITH YELLOW PLASTIC CAP
STAMPED "JACOBS" SET FOR CORNER;
NORTH 72 DEGREES 39 MINUTES 06 SECONDS WEST, A DISTANCE OF
6 36 FEET TO A 5/8" IRON ROD WITH YELLOW PLASTIC CAP STAMPED
"JACOBS" SET FOR CORNER;
SOUTH 62 DEGREES 20 MINUTES 54 SECONDS WEST, A DISTANCE OF
100.00 FEET TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP
STAMPED 'JACOBS" SET FOR CORNER ON THE EAST LINE OF
AFORESAID PRESIDIO WEST ADDITION;
THENCE, NORTH 27 DEGREES 39 MINUTES 06 SECONDS WEST ALONG THE
EAST LINE OF SAID PRESIDIO WEST ADDITION AND OVER AND ACROSS
SAID FIRST TEXAS HOMES, INC. TRACT, A DISTANCE OF 399.97 FEET TO A
5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP STAMPED "JACOBS" SET
FOR CORNER;
Page 2 of 3
THENCE, CONTINUING OVER AND ACROSS SAID FIRST TEXAS HOMES, INC.
TRACT AND ALONG THE NORTH LINE OF SAID PRESIDIO WEST ADDITON,
THE FOLLOWING COURSES AND DISTANCES•
SOUTH 62 DEGREES 20 MINUTES 54 SECONDS WEST, A DISTANCE OF
110.00 FEET TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP
STAMPED 'JACOBS" SET FOR CORNER;
NORTH 27 DEGREES 39 MINUTES 06 SECONDS WEST, A DISTANCE OF
18.03 FEET TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP
STAMPED "JACOBS' SET FOR CORNER
SOUTH 62 DEGREES 20 MINUTES 54 SECONDS WEST, A DISTANCE OF
175.00 FEET TO A 5/8" IRON ROD WITH YELLOW PLASTIC CAP
STAMPED 'JACOBS" SET FOR CORNER;
NORTH 27 DEGREES 39 MINUTES 06 SECONDS WEST, A DISTANCE OF
42.66 FEET TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP
STAMPED "JACOBS' SET FOR CORNER
SOUTH 80 DEGREES 08 MINUTES 31 SECONDS WEST, A DISTANCE OF
51.26 FEET TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP
STAMPED "JACOBS' SET FOR CORNER
NORTH 89 DEGREES 53 MINUTES 20 SECONDS WEST, A DISTANCE OF
317.00 FEET TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP
STAMPED 'JACOBS" SET FOR CORNER;
SOUTH 00 DEGREES 06 MINUTES 40 SECONDS WEST A DISTANCE OF
17.76 FEET TO A 5/8 INCH IRON ROD WITH YELLOW PLASTIC CAP
STAMPED "JACOBS' SET FOR CORNER
NORTH 89 DEGREES 53 MINUTES 20 SECONDS WEST, A DISTANCE OF
130.00 FEET TO THE POINT OF BEGINNING, AND CONTAINING 15.129
ACRES OF LAND, MORE OR LESS.
Page 3 of 3
EXHIBIT B
COST LIST
Section I
Water $130,985.40
Sewer $106,032.00
Sub -total
Section II
Interior Streets
Storm Drains
Sub -total
Section III
Street Lights
Sub -total
$237,017.40
$335,336.65
$107,942.50
$443,279.15
$41,193.94
$41,193.94
TOTAL $721,490.49
COMPLETION AGREEMENT
SELF FUNDED
Revised January 2012
Page 9 of 9