HomeMy WebLinkAboutContract 53958-A103/31/2021
2:11 pm
CSC No. 53958-A1
FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 53958
A COMMUNITY FACILITIES AGREEMENT AND COMPLETION AGREEMENT
BETWEEN THE CITY OF FORT WORTH AND
HT HWY ll4 DEVELOPMENT LP
This FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 53958
("First Amendment") is made and entered into by and between the City of Fort Worth ("Cit�'),
a home-rule municipal corporation of the state of Texas, and HT Hwy 114 Development LP
(`�eveloper"), a Texas limited partnership.
WHEREAS, the City and Developer entered into a Community Facilities Agreement for
the construction of public infrastructure improvements for a Project known as Tradition Central
Phase 1B ("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 53958; and
WHEREAS, Developer desires to replace the Completion Agreement with development
bonds as the fmancial guarantee far the remaming 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. 53958
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
far the CFA. Developer has delivered to the City a development bond in the amount of
$235,062.00 guaranteeing Developer's obligation to complete construction of the streetlight
Improvements and pay all contractors and material suppliers. Developer has also delivered to the
City a development bond in the amount of $1,521,263.00, guaranteeing Developer's obligation to
complete construction of all other remaining Improvements and pay all contractars and material
suppliers. City and Developer agree that the Developer may replace the Completion Agreement
with the development bonds as the financial guarantee for the remaining Improvements.
2.
The City and Developer agree that the Completion Agreement is terminated.
City ofFort Worth, Te�s
AmendmentNo. l to City Secretary ContractNo. 53958
Page 1 of3
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
3.
Developer understands and agrees that execution of this First Amendment does not
guarantee that Developer will be eligible for a reduction m the fmancial guarantee for street lights
as set forth in Section 9-311 of the City Code. Developer further understands and agrees that the
execution of this First Amendment and the termmation of the Completion Agreement does not
release the hold on the fmal plat related to construction of the Community Facilities, and that the
provisions contamed 'm Attachment 2 of the CFA relatmg to a fmal mspection of the
Improvements, recording the fmal plat, and issuing building permits remain in full force and effect
0
a. All other provisions of City Secretary Contract Number 53958 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 53958.
[SIGNATURES ON FOLLOWING PAGES]
City ofFort Worth, Te�s
AmendmentNo. l to City Secretary ContractNo. 53958
Page 2 of3
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
�GI�IGt �l�I�GILlGfO�'
Dana Burghdoff (Mar29, 202118:47 CDT)
Dana Burghdoff
Assistant City Manager
Mar 29, 2021
Date:
Recommended by:
E✓elvn Roberts
Evelyn Roberts (Mar26, 202ll6�52 CDT)
Evelyn Roberts/Jennifer Ezernack
Project Assistant
P lanning and D e ve lopment
Approved as to Form & Legality:
_� �
Richard A. McCracken
Sr. Assistant City Attorney
M&C No. N/A
Date:
Form 1295: N/A
ATTEST:
far Rohql�I P. Gonzqles
for Ronald P. 6onzales (Mar 3q 202111:46 CDT)
Mary J. Kayser
City Secretary
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City ofFort Worth, Te�s
AmendmentNo. l to City Secretary ContractNo. 53958
Page 3 of3
HT HWY 114 DEVELOPMENT LP, a Texas limited partnership
By: HT Hwy ll4 Development LLC,
a Delaware limited liability company, its gencral partner
By: HT Hwy 114 LP,
a Delaware limited partnership, its sole member
By: Hines Hwy 114 LLC,
a Delaware limited liability company, its general partner
By: Hines Hwy 114 Associates LP,
a Texas limited partnership, its sole member
By: Hines InvestmentManagementHoldings Limited
Partnership,
a Texas limited partnership, its general partner
Rrf6ert WiH2-
Rohei t lN'itta ; �iar 26. 202116�.49 CDT'.
Y'
Name: Robert W. Witte
Title: Senior Managing Director
Contract Compliance Manager:
By signing, I acknowledge that I am the
person responsible for the monitoring and
adil�inistration of this contract, including all
performance and reportmg requirements.
��r.� �5'c��7�e2.�v�
� s�ar�Ettn%o�aies;marze.zoziis�s4coi;
Name: Janie S. Morales
Title: Interim Development Manager
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX