HomeMy WebLinkAboutContract 57677-A1 Date Received: 12/12/22 City Secretary
Time Received: 4:35 p.m. Contract No.: 57677-A1
FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 57677
A COMMUNITY FACILITIES AGREEMENT BETWEEN
THE CITY OF FORT WORTH AND NTP35, LP
This FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER
57677 ("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 NTP35, LP
("Developer"), 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 North City
Addition, City Project Number 103490, ("CFA"); and
WHEREAS, City and Developer executed a Completion Agreement as the financial
guarantee for the Improvements in the CFA ("Completion Agreement"); and
WHEREAS,the CFA and the Completion Agreement are filed with the City Secretary
as City Secretary Contract Number 57677; and
WHEREAS, Developer desires to replace the Completion Agreement with a letter of
credit 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 Number 57677:
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$1,699,336.46
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.
2.
The Completion Agreement is terminated.
OFFICIAL RECORD
City of Fort Worth,Texas CITY SECRETARY
First Amendment to City Secretary Contract No.57677 FT.WORTH,Tx
Page 1 of 3
3.
a. All other provisions of City Secretary Contract No. 57677 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 No. 57677.
[SIGNATURES ON FOLLOWING PAGE]
City of Fort Worth,Texas
First Amendment to City Secretary Contract No.57677
Page 2 of 3
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
nww, 8U-,P,61Va-# DEVELOPER
Dana Burghdoff(06c 12,20 09:47 CST)
Dana Burghdoff NTP35,LP,
Assistant City Manager a Texas limited partnership
Date: �e C 12� 2022 By: NTP Investments LLC
a Texas limited liability company,
its sole general partner
Recommended by:
Steve McKeever(Dec 9,202216:21 CST)
Bichson Nguyen(Dec 9,202 :2 T) Steve McKeever, Manager
Dwayne Hollars/Bichson Nguyen Date: Dec 9, 2022
Contract Compliance Specialist
Development Services
Approved as to Form &Legality:
Richard A.McCracken(Dec 9,202216:57 CST)
Richard A. McCracken
Sr. Assistant City Attorney
Contract Compliance Manager:
� o�fonr�ao By signing, I acknowledge that I am the
M&C No. N/A A,,o° o�0 person responsible for the monitoring and
Form 1295: N/A ~
per° o io administration of this contract, including all
ape o°° °o �� performance and reporting requirements.
ATTEST: a� p
a�TEX ASg4o
..i.. dd� Rebecca 20Diane Owen e(Dec 2owe�)
jg*ette S.Goodall Dec 12 202215• CST Name: Rebecca Owen
Jannette S. Goodall Title: Development Manager
City Secretary
OFFICIAL RECORD
City of Fort Worth,Texas CITY SECRETARY
First Amendment to City Secretary Contract No.57677 FT.WORTH,Tx
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