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CITY SECRETARY4210�a
CONTRACT NO.
COMPLETION AGREEMENT
This Completion Agreement (the "Agreement "), is made and
entered into by and among the City of Fort Worth, (the "City ") and
SMRP Real Estate Ltda Texas limited liability company, (the
"Developer ") effective as of the kd day of DeCtk-fk X
2011. The City and the Developer are hereinafter collectively called
the "Parties ".
WITNESSETH:
WHEREAS, the Developer owns that certain tract of real property
that contains approximately _10.620 acres that is 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, which tract of real property is hereinafter called the
"Property "; and
WHEREAS, the Developer intends to develop the Property as an
addition to the City through plat FP 007 -029 as approved by the City
on or before the date of this Agreement (hereinafter called the "Plat ");
and
WHEREAS, the Developer and the City have entered into a
Community Facilities Agreement relating to the development of the
Water, Sewer, Paving, Storm Drainage and Street Lights /Sign
Improvements to serve Boswell Ranch Phase 213 _ (hereinafter called
the "CFA "); and
WHEREAS, the City has required certain assurances that the
Developer will cause to be constructed to City standards the paving,
drainage, water and sewer utilities, street signs, and street lights for
the development of the Property (herein collectively called the
"Community Facilities "), and
WHEREAS, the Parties desire to set forth the terms and
conditions of such accommodations as are described above.
i OFFICIAL RECORD I
j CITY SECRETARY,
FT. WORTH, TX
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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.
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
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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.
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(cD_fortworthtexs.aov
Confirmation Number: 817- 392 -2239
Attention: CFA Division
Jana Knight, Administrative Assistant
Email: Jana. KnightCa-fortworthtexas.gov
Confirmation Number: 817- 392 -2025
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With a copy thereof addressed and delivered as follows:
and /or
Douglas W Black
Office of the City Attorney
City of Fort Worth
1000 Throckmorton Street
Fort Worth, Texas 76102
Confirmation Number: 817 - 392 -7615
(ii) Notice to the Developer shall be addressed and
delivered as follows:
SMRP Real Estate Ltd
Attention: Steve Moore_
5354 Airport Freeway
Haltom, TX 76117
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
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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.
Executed by the Parties to be effective as of the date first stated
above.
EXECUTED IN QUADRUPLET.
APPRO D AS TO FORM:
U(F —
Douglas W Black
Assistant City Attorney
NO M&C gEQUIRED
ild P. Gonzales, Ass
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CITY OF FORT WORTH:
Fernando Costa
Assistant City Manager
DEVELOPER:
SMRP Real Estate Ltd
(L-- ' /
By:
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Dr g o CITY SECRETARY
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Title: iljv - (° 1, � �/
Date: ( 1' / -) -/1
LIST OF EXHIBITS
EXHIBIT A - LEGAL DESCRIPTION
EXHIBIT B - APPROVED BUDGET
_-__i
OFFICIAL RECORD
COMPLETION AGREEMENT
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FT. WORTH, TX
EXHIBIT A
LEGAL DESCRIPTION
COMPLETION AGREEMENT
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EXHIBIT A
LEGAL DESCRIPTION
WHEREAS SMRP, Ltd. is the owner of 10.620 acres of land situated in the R. Whitley Survey, Abstract
No. 1672, City of Fort Worth, Tarrant County, Texas, being a portion of that tract of land described in the
deed to SMRP, Ltd., recorded Volume 17443, Page 359, Deed Records, Tarrant County, Texas; said
10.620 acres of land being more particularly described by metes and bounds as follows:
BEGINNING at a 1/2 inch iron rod found at the southwest comer of Lot 15, Block 6, Boswell Ranch
Addition, an addition to the City of Fort Worth, Tarrant County, Texas, according to the plat filed in Cab.
A, Slide 11050, Plat Records of Tarrant County, Texas, said point also being in the north property line of
a tract of land conveyed to Boaz Road, L.P., as recorded in County Clerk instrument D204220620, Deed
Records of Tarrant County, Texas;
THENCE North 88 deg. 56 min. 26 sec. West, along the south line of said SMRP, Ltd., tract, 130.67 feet
to a 1/2 inch iron rod found at the northwest corner of said Boaz Road tract, also being the northeast
comer of a tract of land conveyed to Boaz Road, L.P., as recorded in Volume 17121, Page 438, Deed
Records of Tarrant County, Texas;
THENCE North 88 deg. 58 min. 20 sec. West, continuing along the south line of said SMRP, Ltd. Tract,
and the north line of said Boaz Road, L.P. tract, 728.03 feet to a point for comer;
THENCE North 00 deg. 12 min. 27 sec. East, 163.92 feet to a point for corner;
THENCE South 89 deg. 47 min. 33 sec. East, 270.00 feet to a point for corner;
THENCE North 00 deg. 12 min. 27 sec. East, 530.46 feet to a point for corner;
THENCE South 89 deg. 47 min. 33 sec. East, 451.94 feet to a 1/2 -inch iron rod found, said point also
being the most southwesterly corner of Lot 22, Block 8 of said Boswell Ranch Addition;
THENCE South 89 deg. 26 min. 12 sec. East, continuing along the southerly line of said Lot 22 a distance
of 144.46 feet to a 1/2 -inch iron rod found, said point being the most southeasterly comer of said Lot 22,
said point also being in the West line of Lot 23 of said Block 8;
Thence South 00 deg. 12 min. 27 sec. West, along the West line of said Block 8, a distance of 541.00 feet
to 1/2 inch iron rod found for comer, said point being in the North right -of -way lane of Bush Buck Run;
THENCE South 09 deg. 04 min. 34 sec. West, continuing along said west line of said addition and along
the west right -of -way line of said Bush Buck Run, 50.49 feet to a 1/2 inch iron rod found;
THENCE South 00 deg. 12 min. 27 sec. West, continuing along said west line of said addition, 114.97
feet to the Point of beginning, and containing 10.620 acres of land, more or less.
EXHIBIT B
APPROVED BUDGET
COMPLETION AGREEMENT
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