HomeMy WebLinkAboutContract 57748-A1Date Received: 2/3/2023
Time Received: 4:42 p.m.
City Secretary
Contract No.: 57748-Al
FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 57748
A COMMUNITY FACILITIES AGREEMENT AND COMPLETION AGREEMENT
BETWEEN THE CITY OF FORT WORTH, HAWKINS FAMILY JOINT VENTURE
AND FROST BANK
This FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER
57748 ("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, Hawkins Family Joint
Venture ("Developer"), and Frost Bank ("Lender").
WHEREAS, the City and Developer entered into a Community Facilities Agreement
for the construction of public infrastructure improvements for a Project known as Summer Crest
Phase 1, City Project Number 103473 ("CFA"); and
WHEREAS, City, Developer, and Lender executed a Completion Agreement as the
financial guarantee for the CFA ("Completion Agreement"); and
WHEREAS, the CFA and the Completion Agreement are filed with the City Secretary
as City Secretary Contract Number 57748; and
WHEREAS, Developer desires to replace the Completion Agreement with a
Development Bond as the financial guarantee for all Improvements to be constructed pursuant
to the CFA;
NOW THEREFORE, City, Developer, and Frost, acting herein by and through their
duly authorized representatives, enter into the following agreement, which amends City
Secretary Number 57748:
Section 5 of the CFA is amended to add the following paragraph:
Developer has delivered to the City a development bond in the amount of
$3,402,440.25 guaranteeing Developer's obligation to complete construction of all the
Improvements and pay all contractors and material suppliers. City and Developer agree
that Developer may replace the Completion Agreement with the development bond as the
financial guarantee for the Improvements.
OFFICIAL RECORD
2 CITY SECRETARY
FT. WORTH, TX
The Completion Agreement is terminated.
City of Fort Worth, Texas
First Amendment to City Secretary Contract No. 57748
3.
a. All other provisions of City Secretary Contract No. 57748 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. 57748.
[SIGNATURES ON FOLLOWING PAGE]
City of Fort Worth, Texas
First Amendment to City Secretary Contract No. 57748
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
Oana 11341400AC
Dana Burghdoff eb 2, 2023 16:26 CST)
Dana Burghdoff
Assistant City Manager
Date: Feb 2, 2023
Recommended by:
$6t��Z�N1/ l� Eyli
Bichson Nguyen (Ft,6 2, 023 09:24 CST)
Bichson Nguyen
Contract Compliance Specialist
Development Services
Approved as to Form & Legality:
Richard A. McCracken (Feb 2, 2023 09:44 CST)
Richard A. McCracken
Sr. Assistant City Attorney
M&C No. N/A
Form 1295: N/A
ATTEST:
Jannette S. Goodall
City Secretary
DEVELOPER
Hawkins Family Joint Venture
Steve Hawkins (Jan 20, 2023 11:34 CST)
Steve Hawkins
President
Date: Jan 20, 2023
LENDER
Frost Bank
Austin Durham (Feb 2, 2023 08:56 CST)
Austin Durham
Vice President
Date: Feb 2, 2023
Contract Compliance Manager:
By signing, I acknowledge that I am the
person responsible for the monitoring and
administration of this contract, including all
performance and reporting requirements.
r�
Rebec-ca Diane Owen (Feb 2, 2023 09:25 CST)
Name: Rebecca Diane Owen
Title: Development Manager
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
City of Fort Worth, Texas
First Amendment to City Secretary Contract No. 57748