HomeMy WebLinkAboutContract 54625-A1os/Zi/zo2i
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CSC No. 54625-A1
FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 54625
A COMMUNITY FACILITIES AGREEMENT AND COMPLETION AGREEMENT
BETWEEN THE CITY OF FORT WORTH,
WILBOW-LLANO SPRINGS DEVELOPMENT CORPORATION
AND SOUTHSIDE BANK
This FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER
54625 ("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, Wilbow-Llano Springs
Development Corporation ("Developer"), a TeXas corporation, and Southside Bank
("Lender").
WHEREAS, the City and Developer entered into a Community Facilities Agreement
for the construction of public infrastructure improvements for a Project know as Primrose
Crossing Phase 7 ("CFA"); and
WHEREAS, City, Developer and Lender executed 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 54625; and
WHEREAS, Developer desires to replace the Completion Agreement with a letter of
credit as the financial guarantee for remaining Improvements to be constructed pursuant to the
CFA;
NOW THEREFORE, City, Developer and Lender, acting herein by and through their
duly authorized representatives, enter into the following agreement which amends City
Secretary Contract No. 54625:
1.
Section 5 of the CFA is amended to add the following paragraph:
Developer has delivered to the City a letter of credit in the amount of $242,626.11,
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 letter of
credit as the financial guarantee for the remaining Improvements.
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The Completion Agreement is terminated.
City ofFort Worth, Texas OFFICIAL RECORD
Amendment No. 1 to City Secretary Contract No. 54625 CITY SECRETARY
Page 1 of 3
FT. WORTH, TX
a. All other provisions of City Secretary Contract Number 54625 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 54625.
[SIGNATURES ON FOLLOWING PAGE]
City of Fort Worth, Texas
Amendment No. 1 to City Secretary Contract No. 54625
Page 2 of 3
IN TESTIMONY WHEREOF, the City, Developer and Lender 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 (Jun 16, 20211�:01 CDT)
Dana Burghdoff
Assistant City Manager
Jun 16, 2021
Date:
Recommended by:
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Evelyn Roberts (Jun 16, 202111:04 CDT)
Evelyn Roberts/Jennifer Ezernack
Project Assistant
Planning and Development
Approved as to Form & Legality:
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R�ich�rd A. McCra�kcri i'Jun 16.102113'.SL CDTI
Richard A. McCracken
Sr. Assistant City Attorney
M&C No. N/A
Date:
FOTIri 1295: N/A
ATTEST:
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Mary J. Kayser
City Secretary
DEVELOPER
Wilbow-Llano Springs Development
Corporation
L7e�r�ri�'e� �qbo�r
JennlfcrRa on(Jun15,202115:02CDT)
Jennifer Rabon
Senior Vice President
Date: J u n 15, 2021
LENDER
Southside Bank
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MarkW.Cund�iff(Jun16,2021 �.00CDTj
Mark Cundiff
Executive Vice President Real Estate
Date: J u n 16, 2021
Contract Compliance Manager:
By signing, I acknowledge that I am the
�44���� person responsible for the monitoring and
a� FORT ��� administration of this contract including all
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��� TEXpS,o,a�' Name: Janie Scarlett Morales
��aa�a� Title: Development Manager
City ofFort Worth, Texas OFFICIAL RECORD
Amendment No. 1 to City Secretary Contract No. 54625 CITY SECRETARY
Page 3 of 3
FT. WORTH, TX