HomeMy WebLinkAboutContract 53136-A1 Aug 3,2020
CSC No.53136-Ai
3:23 PM
FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 53136
A COMMUNITY FACILITIES AGREEMENT AND COMPLETION AGREEMENT
BETWEEN THE CITY OF FORT WORTH
AND MERITAGE HOMES OF TEXAS, LLC
This FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER
53136("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, and Meritage Homes of
Texas,LLC ("Developer"), a Texas limited liability company.
WHEREAS, the City and Developer entered into a Community Facilities Agreement
for the construction of public infrastructure improvements for a Project known as Cibolo Hills
Phase 1 ("CFA"); and
WHEREAS, Developer provided a Completion Agreement as the financial guarantee
for the Project ("Completion Agreement"); and
WHEREAS, the CFA and the Completion Agreement are filed with the City Secretary
as City Secretary Contract Number 53136; and
WHEREAS, Developer desires to replace the Completion Agreement with a
development bond as the financial guarantee for the remaining Improvements to be constructed
pursuant to the CFA;
NOW THEREFORE, City and Developer, acting herein by and through their duly
authorized representatives, enter into the following agreement, which amends City Secretary
Contract No. 53136:
1.
Section 5 of the CFA is amended to add the following at the end of the paragraph:
Developer previously provided the City with a Completion Agreement as the
financial guarantee for the CFA. Developer has delivered to the City a development
bond in the amount of $1,058,143.75, guaranteeing Developer's obligation to
complete construction of the remaining Improvements and pay all contractors and
material suppliers. City and Developer agree that the Developer may replace the
Completion Agreement with the development bond as the financial guarantee for
the remaining Improvements.
2.
The Completion Agreement is terminated and the City will release the hold on the final
plat related to the construction of the Community Facilities.
OFFICIAL RECORD
City offort Worth,Texas CITY SECRETARY
Amendment No.1 to City Secretary Contract No.53136 FT. WORTH, TX
Page 1 of3
3.
a. All other provisions of City Secretary Contract Number 53136 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 53136.
IN TESTIMONY WHEREOF, the City and Developer have executed this First
Amendment to be effective on the date signed by the City's Assistant City Manager.
CITY OF FORT WORTH
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Dana Burghdoff( 29,20 15:42 CDT)
Dana Burghdoff
Assistant City Manager
Date: J u l 29) 2020
Recommended by:
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Evelyn Roberts/Jennifer Ezernack
Project Assistant
Planning and Development
Approved as to Form&Legality:
Richard A.McCracken(Jul 29,202015:34 CDT)
Richard A. McCracken
Sr. Assistant City Attorney
M&C No.
Date: Ju(29,2020
Form 1295:
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ATTEST:
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Mary J. Kayser
City Secretary
OFFICIAL RECORD
City offort Worth,Texas CITY SECRETARY
Amendment No.1 to City Secretary Contract No.53136 FT. WORTH, TX
Page of3
DEVELOPER
Meritage Homes of Texas,LLC
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David Aughinb gh(Jui 29,202015:16 CDT)
Name: David Aughinbaugh
Title: Vice President, Land
Date: J u [ 29, 2020
Contract Compliance Manager:
By signing, I acknowledge that I am the person responsible for the monitoring and
administration of this contract, including all performance and reporting requirements.
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Laurie Lewis(Jul 29,202015:31 CDT)
Name: Laurie Lewis
Title: Interim Development Manager
City ofFort Worth,Texas OFFICIAL RECORD
Amendment No.1 to City Secretary Contract No.53136
Page of3 CITY SECRETARY
FT. WORTH, TX