HomeMy WebLinkAboutContract 53119-A1 10/22/20
CSC No.53119-A1
8:55 AM
FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 53119
A COMMUNITY FACILITIES AGREEMENT, COMPLETION AGREEMENT,
AND ESCROW AGREEMENT
This FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER
53119("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, Alta Vista Partners, LTD
("Developer), a Texas limited partnership, Frost Bank ("Lender"), a Texas State financial
institution, and Rattikin & Rattikin, LLP ("Escrow Agent"), Texas limited liability
partnership.
WHEREAS, the City and Developer entered into a Community Facilities Agreement
for the construction of public infrastructure improvements for a Project know as Heather
Meadows ("CFA"); and
WHEREAS, City, Developer, and Lender executed a Completion Agreement as the
financial guarantee for the on-site portion of the CFA ("Completion Agreement"); and
WHEREAS, City, Developer, and Escrow Agent executed an Escrow Agreement as
the financial guarantee for the off-site portion of the CFA; and
WHEREAS,the CFA,the Completion Agreement,and the Escrow Agreement are filed
with the City Secretary as City Secretary Contract Number 53119; and
WHEREAS, Developer desires to replace the Completion Agreement with the existing
Escrow Agreement as the financial guarantee for remaining on-site Improvements to be
constructed pursuant to the CFA; and
WHEREAS, in lieu of Developer providing a new escrow agreement guaranteeing the
remaining on-site Improvements, City and Developer desire to use the existing Escrow
Agreement to guarantee the completion of the remaining on-site Improvements; and
WHEREAS, Developer desires to reduce the amount of the Escrow Agreement to one-
third of the original amount of the Security Funds plus the remaining on-site Improvements.
NOW THEREFORE, City, Developer, Lender, and Escrow Agent, acting herein by
and through their duly authorized representatives, enter into the following agreement, which
amends City Secretary Contract No. 53119:
1.
The CFA is amended to add Section S. to be and read as follows:
OFFICIAL RECORD
City offort Worth,Texas
Amendment No.1 to City Secretary Contract No.53119 CITY SECRETARY
Page 1 of4 FT.WORTH,TX
S. City and Developer agree that the Developer may replace the Completion
Agreement with the existing escrow agreement as the financial guarantee for the
remaining on-site Improvements to be constructed pursuant to the CFA.
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.
3.
The City, Developer, and Escrow Agent agree that the Security Funds in the Escrow
Agreement may be reduced to $183,652.61, such amount guaranteeing that Developer will
construct all remaining on-site and off-site Improvements in the CFA and pay all contractors,
subcontractors and material suppliers for the construction of the remaining Improvements. The
Escrow Agent is expressly authorized by the City to refund all Security Funds in excess of
$183,652.61 to Developer upon execution of this Agreement.
4.
a. All other provisions of City Secretary Contract Number 53119 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 53119.
[REMAINDER OF PAGE INTENTIONALLY BLANK]
City offort Worth,Texas
Amendment No.1 to City Secretary Contract No.53119
Page 2 of4
IN TESTIMONY WHEREOF, the City, Developer, Lender, and Escrow Agent have
executed this First Amendment to be effective on the date signed by the City's Assistant City
Manager.
CITY OF FORT WORTH Contract Compliance Manager:
By signing, I acknowledge that I am the
0444,gu"y&(6 person responsible for the monitoring and
Dana Burghdoff( 19,20 �15:08CDT) administration of his contract, including all
Dana Burghdoff performance and reporting requirements.
Assistant City Manager
Laurie Lewis(Oct 19.202014:10 CDT)
Date: 10/19/2020 Name: Laurie Lewis
Title: Interim Development Manager
Recommended by:
Evelyn Ro (Oct 19,202014:06 CDT)
Evelyn Roberts/Jennifer Ezernack
Project Assistant
Planning and Development
Approved as to Form&Legality:
Richer AMcCracken(Oct 19,202014:30CDT)
Richard A. McCracken
Sr. Assistant City Attorney
M&C No.
Date:
Form 1295: p�ooRr
a o.. a�
ATTEST: p U o o Z d
p o°° °°*�
.1, P�a�nEXASoap
r Ronald P.Gonzales(Oct 19,202015: DT)
Mary J. Kayser
City Secretary
OFFICIAL RECORD
City offort Worth,Texas
Amendment No.1 to City Secretary Contract No.53119 CITY SECRETARY
Page 3 of4 FT.WORTH,TX
DEVELOPER
Alta Vista Partners,LTD
By: DW Commercial, LLC
It's General Partner
75avid R. Waslu�utfa� ��.
David R.Washington Jr.(Oct 14, 2011:11 CDT)
Name: David Washington, Jr.
Title: President
Date: 10/14/2020
LENDER:
Frost Bank
Derek Buchanan
Derek Buchanan(Oct 19,202011:27 CDT)
Name: Derek Buchanan
Title: Senior Vice President
Date: 10/19/2020
ESCROW AGENT:
Rattikin & Rattikin, LLP
Name: Jeffrey A. Rattikin
Title: Partner
Date: 10/19/2020
City offort Worth,Texas
Amendment No.1 to City Secretary Contract No.53119 OFFICIAL RECORD
Page of4 CITY SECRETARY
FT.WORTH, TX