HomeMy WebLinkAboutContract 24902 COMMUNITY FACILITIES AGREEMENT
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THE STATE OF TEXAS 8 City Secretary
COUNTY OF TARRANT 8 Contract No.
WHEREAS, Remington Point LP, by Zena Development Corporation and
MHI Partnership, Ltd., by McGuyer Home Builders, Inc., its general partner,
hereinafter called "Developer", desires to make certain improvements to
Remington Point Phase I, Section A and B, an addition to the City of Fort Worth,
Texas; and
WHEREAS, the said Developer has requested the City of Fort Worth, a
municipal corporation of Tarrant County, Texas, hereinafter called "City", to do
certain work in connection with said improvements;
NOW, THEREFORE, KNOW ALL MEN BY THESE PRESENTS:
That said Developer, acting herein by and through Pat DiFonzo and George
Haught, its duly authorized President and Vice President, respectively, and the
City, Acting herein by and through Mike Groomer, its duly authorized Assistant
City Manager, for and in consideration of the covenant and agree as follows, to-
wit:
Cud UAL RMOO ID
CM NCREVARY
VI U�l�/Il�ill 9 0.
SECTION ONE
COMMUNITY FACILITIES AGREEMENT
to install
WATER AND SEWER SERVICES
for
REMINGTON POINT ADDITION, PHASE 1, SECTION A& B
A. The City agrees to permit the Developer to let a contract for, in accordance
with its accepted practices, ordinances, regulations, and the provisions of
the City Charter, and subject to the requirements of the City's Charter, and
subject to the requirements of the City's Policies and Regulations for
Installation of Community Facilities, all as current at the time of installation:
WATER FACILITIES serve the lots as shown on the attached Exhibit A ,
and SANITARY SEWER FACILITIES to serve the lots as shown on the
attached Exhibit A-1 all in accordance with plans and specifications to
be prepared by private engineers employed by the Developer and
approved by the Water Department.
B. The City agrees to allow the Developer to install, at his expense, at the
time all other water mains in this addition are installed, a service line for
each lot as shown on the attached Exhibit A . The estimated cost of
these service lines is $ 72,000. The City agrees to record the location of
each said service line in respect to the corner of the lot served, and to
retain said records in its possession.
C. The construction cost of the water facilities herein concerned, exclusive of
service lines and engineering is estimated to be Seven Hundred Thirty
Five Thousand, Three Hundred Sixty-Eight Dollars ($736,368) .
D. The City agrees to allow the Developer to install, at his expense, at the
time all other sanitary sewer mains in this addition are installed, a service
line for each lot as shown on the attached Exhibit A-1 . The estimated
cost of these service lines is $ 72,000. The City agrees to record the
location of each said service line in respect to the corner of the lot served,
and to retain said records in its possession.
E. The construction cost of the sanitary sewer facilities to be installed
hereunder, exclusive of service lines and engineering, is estimated to be
Three Hundred and Four Thousand, Seven Hundred Ninety-Eight
Dollars ($304,798).
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PROJECT NAME: REMINGTON POINT ADDITION, PHASE 1, SECTION A & B
F. Prior to allowance of the construction contract by Developer, the Developer
agrees to provide acceptable financial guarantee to the city for 100 percent
of the construction of the construction costs along with payment of any
Ordinance costs and fees that are applicable. Prior to the award of the
construction contract by the City or the commencing of any work by the
City or its contractors, the Developer agrees to pay to the City:
(1) (a) One Hundred percent (100%) of the Developer's cost of all water
and sanitary sewer facilities within the development, exclusive of
engineering and service costs, sized to provide water and sanitary sewer
service within the development.
(b)One hundred percent (100%) of the Developer's cost of all
approach water and sanitary sewer facilities outside the limits of the
development sized to provide water and sanitary sewer service to the
development.
(c)One hundred percent (100%) of the Developer's cost of any
approach water main facility or water facility within the development that is
8-inches in size for non-industrial development and 12-inches in size for
industrial development.
(d)One hundred percent (100%) of the Developer's cost of any
approach sanitary sewer main facility or sanitary sewer facility within the
development that is 8-inches in size.
(2) An additional ten percent (10%) of the total of the Developers cost
of these water and sanitary sewer facilities, exclusive of cost of service
lines, is required for design engineering if such engineering is performed
by the City at the Developer's request.
(3) One hundred percent (100%) of the Developer's cost of all service
lines, estimated under 1-13 and 1-D above, in accordance with the
provisions of the current Fort Worth City Code.
(4) A construction Inspection Fee equal to two (2%) of the Developer's
actual cost share of the construction cost (including all services) of the
water and/or sanitary sewer facilities.
G. The distribution of estimated construction cost between the City and the
,. Developer, as per paragraph 1-F above, for all water and sanitary sewer
facilities to be constructed hereunder is estimated as follows:
I-2
PROJECT NAME: REMINGTON POINT ADDITION, PHASE I, SECTION A & B
(1)WATER FACILITIES :
Estimated *`
Developer Estimated Total
Cost City Cost Cost
(a) Mains, Within
Development $ 321,532 $ -0- $ 321,532
Approach $ 249,876 $163,482 $ 413,358
(b) Easements* $ -0- $ -0- $ -0-
(c) Services
240- single 1") $ 72,000 $ -0- $ 72,000
(d)Park Participation $ -0- $ 478 $ 478
Sub-Totals, Water $ 643,408 $163,960 $ 807,368
(2) SANITARY SEWER FACILITIES:
(a) Development $ 304,241 $ -0- $ 304,241
Approach $ -0- $ -0- $ -0-
(b) Easements * $ -0- $ =0- $ -0-
(c) Services ( 240 -4") $ 72,000 $ -0- $ 72000
(d)Park Participation $ -0- $ 557 $ 557
Sub-Totals, Sewer $ 376,241 $ 557 $ 376,798
(3) TOTAL
CONSTRUCTION COST: $1,019,649 $164,517 $1,184,166
(4) CONSTRUCTION
INSPECTION FEE : $ 20,393 $ 3,290 $ 23,683
*to be dedicated by the developer.
**''see Page 6 for City Cost
I-3
I
PROJECT NAME: REMINGTON POINT ADDITION, PHASE I, SECTION A & B
H. The above charges do not include any front foot charges for connection to
existing or proposed water and/or sanitary sewer mains constructed or to
be constructed under the provisions of the "APPROACH MAIN OPTION"
as described in Section III of the Policy for the "INSTALLATION OF
COMMUNITY FACILITIES" adopted in September, 1992. These
additional charges are as follows:
1. Applicable to this Contract in the amount of $ N/A.
by Contract No. N/A dated N/A
Applicable CFA Name N/A
Date: N/A Number NIA
I. When water facilities are installed by contract, installation of water
services will be included as part of the contract. Installation of meter
boxes on those services may be done by the City, after completion of
construction of all relative curb and gutter work on the water facilities
project site, at a cost of$70/$135 per contract-installed charge to be due
and payable prior to issuance of a Work Order on the water facilities
installation contract. The above charges do not apply if the Developer
elects to.include meter box installation as part of the contract. However,
meter boxes must conform City standards.
J. Within a reasonable time after completion of the above referenced
facilities to be constructed by contract awarded by the Developer,
provided all conditions for City participation have been met, the City
agrees to pay the Developer the "Estimated City Cost" set out in 1-G
above; provided, however, that said payment shall be calculated using the
actual construction costs and actual service costs under the provisions of
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PROJECT NAME: REMINGTON POINT ADDITION, PHASE 1, SECTION A &B
the current Fort Worth City Code, (said payment to be calculated as in 1-
G above), based on actual quantities as reflected in the final estimate paid
to the Contractor by the Developer and on the actual records of cost kept
by the City as a part of its customary procedures. In the event the
difference in the deposit and the actual costs exceeds $25, Developer
agrees to pay to the City and underpayment which said adjustment might
indicate as being due, and the City agrees to pay to Developer any
overpayment.
K. Work hereunder shall be completed within two (2) years from date hereof,
and it is understood that any obligation on the part of the City to make any
refunds with respect to water and/or sanitary sewer facilities shall cease
upon the expiration of two (2) years from date hereof, except for refunds
due from "front foot charges" on water and sanitary sewer mains, which
refunds may continue to be made for a period of ten (10) years
commencing on the date that approach mains are accepted by the
Director. If less than 70% of the eligible collections due to the developer
has been collected, the Developer may request in writing an extension of
up to an additional 10 years for collection of front charges. In the event
water and/or sanitary sewer facilities work is not completed within the (2)
year period, City may, at its election, complete such work at Developer's
expense.
L. It is further agreed and understood that any additional payment required
of Developer is to cover only such additional work and/or materials as
may be made necessary by conditions encountered during construction,
and shall not include any change in scope of the project.
M. It is also agreed and understood that the building permits for the following
lots will be withheld from issuance until the off-site 20" water main in this
agreement is constructed and accepted by the Water Department. These
lots are Lots 15 through 21 of Block 2; Lot 14 of Block 3; Lots 8 through
15 and 22 through 37 of Block 5; Lots 1 through 9 and 28 through 35 of
Block 6; Lots 3 through 12 of Block 7; and Lots 6 through 8 of Block 22.
RECOMMENDEp
Lee C. Brad ey, Jr.
Director, Water Department
Date
I-5
II
STREET AND STORM DRAIN IMPROVEMENTS
A. GENERAL PROVISIONS:
1. The Developer acknowledges that he has complied with Article 104.100 of
Ordinance 7234 and hereby relieves the City of any responsibilities for.any
inadequacies in preliminary plans and cost estimates supplied for the purpose of
this contract and further agrees that he will comply with the Subdivision
Ordinance, City Plan Commission Rules and Regulations, and Policy for
Installation of Community Facilities and all applicable policies, rules, regulations
and ordinances of the City regarding development.
2. The Developer agrees to install or cause to have installed, the street and storm
drainage facilities improvements shown on the attached Exhibits "B" and "B-1",
respectively, in accordance with plans and specifications prepared by the City or
prepared by the Developer's engineer and approved by the City Engineer.
3. The Developer agrees to install, adjust or cause to be installed or adjusted, all of
the required utilities to serve the development. On Border Streets, the Developer
will be responsible only for the costs of relocating the utilities, with the City
coordinating the utility construction. Prior to construction, the Developer will
provide the City a list of all utilities that will require relocating, along with
assurance that no conflicting street construction will take place until the utility
relocation has been 'completed. The Developer further agrees that before
commencing construction the City will be provided Performance and Payment.
bonds equal to 100% of the construction costs and a one year Maintenance
Bond, for the constructed streets. The Developer also agrees that no street
construction shall begin prior to the City Council's approval of this Community
Facilities Agreement, in accordance with Section 104.100 of City Ordinance No.
7234.
4. Except where specifically stated otherwise in this contract, the Developer hereby
agrees and binds itself to provide all necessary right-of-ways and/or easements
required to construct the street improvements including any drainage outfall, in
lengths, widths, and locations as approved by the City Engineer.
5. Unless the City is to prepare plans and specifications for a separate.project of
estimated value less than $10,000 as requested by the Developer, the Developer
agrees to submit plans and specifications prepared by an approved Professional
Engineer, registered in the State of Texas, proficient in Civil Engineering, for the
CONTRACT FOR: REMINGTON POINT, PHASE I, SECTION A AND B
II-1
improvements required under this agreement. Such plans shall be in compliance
with the policies, ordinances, and rules of the City of Fort Worth, and are subject
to approval by the City Engineer. After said plans are approved as witnessed by
the signatures of the City Engineer and of the Deputy Director of the Water
Department, the Engineer shall provide the City one (1) set of reproducible
approved plans, plotted x sections, and specifications; and nineteen (19) copies
of the plans and eight(8) sets of the specifications and contract documents (four
(4) unexecuted, 2 executed and 2 conformed sets). Additional sets of plans
and/or specifications may be required for other departments and/or agencies
depending on the project.
6. The Developer agrees to complete the improvements covered by this agreement
within 90 calendar days after having been instructed to do so, in writing, by the
Director of Transportation and Public Works. It is understood that the Developer
will initiate the construction of all improvements to conform with his own
schedule, except for those improvements which the Transportation and Public
Works Director deems necessary for the proper and orderly development of the
area. In the event Developer fails to carry out any such instructions within the 90-
day period, the Developer gives the City the right to award a contract for the
improvements in question, and agrees to pay to the City prior to the award of the
contract, the amount of the low bid.
7. Should it become evident during the construction of the street improvements
herein described that subdrains are required to properly drain the subgrade,
Developer agrees to install at its own expense, such subdrains as may be
required by the City Engineer.
8. The Developer agrees that all improvements to be constructed hereunder will be
subject to inspection and approval by the City Engineer, and require any
contractor who will be involved in any earthwork within any future public right-of-
way, to notify the Department of Engineering, Construction Services Division,
before any work takes place and to require all earthwork to be done in accor-
dance with the City of Fort Worth Standard Specifications to the satisfaction and
approval of the City Engineer or his representative. The developer also agrees
that no street or storm drain construction shall begin prior to the City Council's
approval of this Community Facilities Agreement in accordance with Section
104.100 of City Ordinance No.7234.
9. The Developer agrees to furnish to the City simultaneous with Developer's
execution of this agreement, "performance and payment bonds" or cash deposit
in accordance with "General Requirements," Section V, Paragraph F (4) of this
agreement. These bonds or deposit will be conditioned upon the satisfactory
CONTRACT FOR: REMINGTON POINT, PHASE I, SECTION A AND 8
II-2
compliance by the Developer with all requirements concerning improvements as
set forth in this agreement.
10. In the event the Developer awards his own contract and does not desire City
participation, the Developer shall pay the entire cost of the street and/or storm
drainage facilities. The condition set out in "General Requirements," Section V,
Paragraph F of this agreement shall apply.
11. The City shall assume its share of the cost of the street and storm drain
improvements and the engineering fee only if funds are available for such
participation. In the event that no funds are available for City participation, the
developer shall award the contract and deposit with the City cash, or
performance and payment bonds for 100 percent of the estimated total
construction cost of the improvements (plus ten percent (10%) for engineering
and miscellaneous costs if the City prepares the plans).
12. In the event the Developer desires City participation and follows the procedure as
set forth in Section IV and V of the Policy For The Installation of Community
Facilities, the City's participation in the costs shall be as shown in Section 11-8,
(Street Improvements) and Section II-C (Storm Drainage Improvements) of this
agreement. In no event shall the City be liable to the Developer for any
payments in excess of the City's estimated participation unless and until there is
separate and formal approval by the City Council to pay such excess amount.
13. Upon completion.-of these facilities, it is agreed and understood that the
Developer's estimated participation in the costs as may be indicated in this
contract, shall be adjusted to equal the final costs, except that the City shall not
be obligated to make any refunds until all facilities required under all sections of
this agreement have been completed to the satisfaction of the City. No refund of
less than $25.00 will be made. In the event the difference in the deposit and
actual cost exceeds $25.00, the Developer agrees to pay to the City any
underpayment and the City agrees to refund any over payment to the Developer.
14. The City will provide construction engineering; except for the setting of line and
grade stakes for streets and storm drains (see definition of Construction
Engineering), without charge on all projects regardless of size. The setting of line
and grade stakes for streets and storm drains shall be the responsibility of the
developer except that the City reserves the right to pre-qualify persons and/or
firms that are hired to provide this surveying and to check the accuracy of the
surveying and the conformance of the stakes to the approved plans.
15. Following the setting of line and grade by a private surveyor hired by the
CONTRACT FOR: REMINGTON POINT, PHASE I, SECTION A AND B
II-3
developer, the contractor shall give 24-hour notice to the Construction Engineer
so that inspection personnel will be available. No work shall begin until the
assigned inspector is present and gives his consent to proceed.
16. Approval by the City Engineer shall not constitute or be deemed to be a release
of the responsibility and liability of the Developer, his engineer, employees, and
agents for the accuracy and competency of their designs and specifications.
Such approval shall not be deemed to be an assumption of such responsibility
and liability by the City for any defect in the designs and specifications prepared
by the consulting engineer, his agents and employees, it being the intent of the
parties that approval by the City Engineer signifies the City's approval on only the
general design concept of the improvements to be constructed. In this
connection the Developer shall for a period of five (5) years after the acceptance
by the City of the completed construction project indemnify and hold the City and
all of its officers, agents, servants and employees harmless from any loss,
damage, liability or expense, on account of damage to property and injuries,
including death, to all persons which may arise out of any defect, deficiency or
negligence of the engineer's designs and specifications incorporated into any
improvements constructed in accordance therewith, and the Developer shall
defend at his own expense any suits or other proceedings brought against the
City and its officers, agents, servants and employees, or any of them on account
thereof, to pay all expenses and satisfy all judgments which may be incurred by
or rendered against them or any of them in connection therewith.
17. The developer agrees to construct street lights as specified in Section III of the
agreement at the same time as streets are being constructed.
CONTRACT FOR: REMINGTON POINT, PHASE I, SECTION A AND 8
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B. STREET IMPROVEMENTS BY DEVELOPER:
1. Developer hereby agrees and binds itself to:
a. Excavate all streets, including parkways, to line and grade established in
the approved plans. No fill shall be put in place unless a City of Fort Worth
inspector is present and approves the installation.
b. Require any contractor who will be involved in any earthwork within any
future public right-of-way, to notify the Department of Engineering,
Construction Services Division, before any work takes place and to require
all earthwork to be done in accordance with the City of Fort Worth
Standard Specifications to the satisfaction and approval of the City
Engineer or his representative.
C. Install all necessary storm drainage facilities in accordance with the
Transportation and Public Works Department's "Policy For Storm Drainage
Facilities".
d. Construct all utilities and services in the streets to at least two feet back to
the curb line prior to the construction of curb and gutter and paving of the
streets. All trenches shall be backfilled in accordance with standard City
specifications.
e. Construct concrete curb and gutter on both sides of the street, unless this
agreement specifies otherwise, including intersections. Construct concrete
driveways to the back of the walk line for each lot fronting on the street in
accordance with standard City specifications. Construct sidewalks if
specified in this agreement.
f. Construct pavement, including subdrains determined to be required by the
City Street Inspector during construction, on all streets in accordance with
the approved plans and/or specifications.
g. Improve border streets at the time of development unless conditions
preclude improvements at that time as determined by the Director of
Transportation and Public Works.
h. Construct, at its own expense, curb returns at all street intersections within
or adjacent to the area covered by this agreement.
L Be responsible for grading the parkway between the curb lines and the
property lines to elevations required by the City Engineer.
j. Grade all 20' x 20' and 15' x 15' Open Space Easements down to a height
of not more than twenty-four(24) inches above the top of curb.
k. Construct, at its own expense, curb, gutter, and approved paving as
depicted on Exhibit"B":
CONTRACT FOR: REMINGTON POINT, PHASE I, SECTION A AND B
II-5
2. Cost Distribution:
a. The City shall bear all of the excess cost of street improvements for widths
greater than:
° Forty (40) feet adjacent to property zoned single family and/or
duplex residential.
° Fifty-two (52) feet adjacent to property zoned other than single
family and/or duplex residential.
b. If the developer constructs a wider street than requested by the City, there
shall be no City participation for the cost of the extra width. However, in
the event a street wider than forty (40) feet adjacent to single family and
duplex residential or fifty-two (52) feet adjacent to zoning other than single
family or duplex residential is constructed at the City's request, the City will
make the following reimbursement to the developer upon completion of the
entire length of street included in this Community Facilities Agreement.
(1) The reimbursement shall be for the cost of the road width in excess of
forty feet adjacent to residential (single family or duplex) zoning and
fifty-two feet adjacent to zoning other than single family or duplexes.
(2) The reimbursement due to Item (1) above shall be based on unit
prices actually paid by the Developer and approved by the
Transportation and Public Works Director, . except that the
reimbursement for earthwork shall be established annually based on
then current costs of doing this type of work, as determined by the
City.
C. On streets abutting City park property, the City will pay the cost of one-half
of the curb, gutter, paving (including any base stabilization), and related
earthwork adjacent to the park.
d. All Railroad Crossings shall be of type "Rubber Railroad Crossing" without
exception. The City's participation in rail road crossings shall be in
accordance with this Section. Furthermore, if it is necessary for the City to
condemn Railroad property, the developer shall reimburse the City the
entire cost of the condemnation process including attomey fees plus any
other costs associated with the right-of-way and or easement acquisition.
e. City shall pay engineering costs in the amount of six percent (6%) of the
actual cost of the City's share of construction as defined above upon
CONTRACT FOR: REMINGTON POINT, PHASE I, SECTION A AND 8
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completion and acceptance of the street facilities. However for preparation
of Community Facilities Agreements, the City shall use six percent (6%) of
the estimated cost of its share of construction as defined for designed
above engineering.
f. The City shall assume its share of the cost of the street improvements and
the engineering fee only if funds are available for such participation. In the
event that no funds are available for City participation, the developer shall
award the contract and deposit with the City cash, or performance and
payment bonds for 100 percent of the estimated total construction cost of
the improvements (plus ten percent (10%) for engineering and
miscellaneous costs if the City prepares the plans).
g. The Developer shall pay a construction inspection and materials testing fee
in the .amount of two percent (2%) of the developers share of the street
construction cost as defined above. The two percent (2%) amount shall be
included with the submittal by the developer of the performance and
payment bonds, or cash together with the signed community facilities
agreement to the Development Coordinator. For the preparation of a
community facilities agreement, two percent (2%) of the estimated cost of
the Developers share of the street construction as defined above for the
construction inspection and materials testing fee shall be used. At the time
when bids are submitted and prior to the work order being issued, the
Developer shall submit the amount in cash representing.two percent (2%)
of the Developers share of the street construction cost. This amount may
be adjusted by the Developer or the City, upon written request, to conform
to the actual construction cost upon completion and acceptance of the
street facilities, provided the difference is greater than twenty-five dollars
($25.00).
3. The following special cost distribution conditions shall be in lieu of, shall
supersede and shall prevail over any of the standard cost distribution provisions
which may be in conflict herewith.
None.
CONTRACT FOR: REMINGTON POINT, PHASE 2, SECTION A AND B
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4. Estimate of Construction Cost
Unit Developer City Park° Total
Item Quantity Price Cost Cost Cost Cost
40'Wide Roadway 2,151 L.F. $118.00 $253,818 $-0- $-0- $253,818
6" Reinf. Conc.
6" Lime Stab. Subgr.
28'Wide Roadway 7,776 L.F. 60.00 430,650 -0- 35,910 466,560
5" Reinf. Conc.
6" Lime Stab. Subgr.
Sub-Total $684,468 $-0- $35,910 $720,378
10% Contingencies 68.447 -0- 3.591 72.038
Total $752,915 $-0- $39,501 $792,416
City's participation due to proposed park site for 1,197 L.F. is _$39,501 .
CONTRACT FOR: REMINGTON POINT, PHASE I, SECTION A AND 8
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C. STORM DRAINAGE IMPROVEMENTS:
1. Based upon preliminary engineering design, the storm drainage facilities listed
below are required. It is understood that actual sizes, quantities, and costs may
vary after detailed engineering is accomplished, and bids are taken.
Description of Work to be Done:
The Developer agrees to install or have installed, the storm drain system for this
project as shown on Exhibit "&1", attached hereto, in compliance with all
applicable City of Fort Worth Rules and Regulations and Construction Standards.
Furthermore, the Developer also agrees:
a. to construct all storm drainage facilities and appurtenances to the line and
grade established in the final plans.
b. to provide sufficient drainage easements for all storm drainage facilities
outside a.public right-of-way. Drainage easements shall be provided along
the entire length of the system to include an outfall condition which is
acceptable to the City Engineer. A detention pond may be provided in lieu
of an adequate outfall with approval by the City Engineer. Drainage
easements along a required outfall channel or ditch shall be provided until
the flowline "day lights" on natural grade. The minimum grade allowed on
an outfall channel or ditch will be 0.2 foot per 100 feet. Drainage
easements will generally extend at least twenty-five (25) feet past an outfall
headwall to provide an area for maintenance operations.
C. to provide a drainage system which is fully functional and readily
maintainable.
d. to provide for storm flow resulting from a one hundred (100) year frequency
storm in accordance with City drainage design criteria. Such flow once
contained in a public drainage easement and/or right-of-way shall continue
to be retained with public easements or rights-of-way, unless approved by
the City Engineer under a strictly controlled set of criteria. Over-flow
swales intended to convey "public" storm flow shall be contained in a
drainage easement, included in the design plan, and constructed in
conjunction with the storm drainage improvements.
e. that the storm drain system will be designed to ultimate land use. If stage
construction is used, temporary offsite measures can be utilized as
development proceeds but must be approved by the City Engineer. These
temporary offsite measures must be brought into conformance with
ultimate design standards as development proceeds.
CONTRACT FOR: REMINGTON POINT, PHASE I, SECTION A AND B
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2. Cost Distribution:
a. The City shall not pay any amount in the cost of storm drainage facilities
consisting of pipe 60-inches or less in diameter, including the cost of any
trench and/or channel excavation, manholes, inlets, lead lines, headwalls
and/or any other items to complete the system.
b. Where pipe larger than 60 inches is used, the City shall pay twenty-five
percent (25%) of the difference in construction cost between a sixty inch
pipe and any larger pipe size. There will be no City participation in the cost
of any trench and/or channel excavation, manholes, inlets, lead lines,
headwalls, and/or any other items to complete the system.
C. Where a lined channel is constructed, the City's participation shall be as
follows:
1) Twenty-five percent (25%) of the cost of concrete lining in place
provided the bottom of the channel is lined with concrete or consists of
natural solid rock.
2) Twenty-five percent (25%) of the cost of gabion lining provided that
the channel bottom is lined either with concrete or gabion; and/or the
bottom of the channel consists of natural solid rock.
3) There shall be no City participation in the cost of any trench
excavation, right-of-way, inlets, manholes, guard rail, rip-rap, seeding,
sodding and/or any other appurtenances necessary to complete the
drainage facilities.
d. Where a bridge or culvert is constructed, the City's participation shall be as
follows:
1) For systems smaller than or equal to a pipe size of sixty (60) inches in
diameter, area-wise, there shall be no City participation.
2) Where the system is larger than a pipe of sixty (60') inches in
diameter or is of some other shape with a cross sectional area of more
than 19.6 square feet, the City shall base its share of the cost on the
water shed area to be drained and will calculate its share according to
the table below for any bridge and/or culvert for a street crossing up to
a roadway width of:
° Forty (40) feet adjacent to single family or duplex
residential zoning and use.
° Fifty-two (52)feet adjacent to any other zoning and/or use.
CONTRACT FOR: REMINGTON POINT, PHASE I, SECTION A AND B
II-10
Watershed Area City's Participation
(Acres) (% of Cost)
up to- 1,000 25
1,001 - 1,500 30
1,501 - 2,000 35
2,001 - 2,500 40
2,501 - 3,000 45
3,001 - 3,600 50
3,601 - 4,200 55
4,201 - 4,800 60
4,801 - 5,400 65
5,401 - 6,100 70
6,101 - 6,800 75
6,801 - 7,500 80
7,501 - 8,300 85
8,301 - 9,100 90
9,101 - 10,000 95
Over 10,000 100
3. Except as provided in Item 7., Page 11-11, the City shall also pay one
hundred percent (100%) of the cost of constructing the extra width of
a bridge or culvert necessary for roadways in excess of-
0 Forty (40) feet adjacent to single family and/or duplex
residential zoning and use.
° Fifty-two (52)feet adjacent to any other zoning and use.
4) There shall be no City participation in the cost of parkway
improvements, including pedestrian ways, guardrails, etc.
5) Developers shall submit cost estimates for both a bridge and culvert
and City cost participation shall be limited to the lowest City cost
estimate based on the standard cost distribution listed above.
The City Council reserves the right to evaluate the overall economic
benefits to the City in all cases where its participation in a bridge or
culvert exceeds forty percent (40%). The Director of Transportation
and Public Works shall submit an economic evaluation and
recommendation to the Council in such cases.
CONTRACT FOR: REMINGTON POINT, PHASE I, SECTION A AND B
II-11
6) If the .City requires a roadway width greater than those described
above, one hundred percent (100%) of the additional cost of the
drainage facility necessary for that excess width will be paid by the
City of Fort Worth.
7) If the developer desires a roadway wider than determined necessary
by the Director of Transportation and Public.Works, then there shall
be no City participation for the additional cost of the drainage facility
necessary for the excess width.
8) Bids and estimates for the construction of bridges and culverts shall
be prepared on a unit cost basis for the length of the basic structure
(width of the street) with all appurtenances such as guard rail,
wingwalls, etc.,.being separate bid items, so that the cost distribution
due to oversize structures can be readily determined.
e. The City will consider the level of service being required and City participa-
tion in extra cost of storm drainage facilities where the level of service is
increased due to collector or thoroughfare street requirements.
f. Storm flow shall not be diverted from its natural drainage course to a
border street unless approved by the City Engineer. Where storm flow is
diverted, in the opinion of City Engineer there shall be no City participation
for the additional cost of constructing and/or oversizing any drainage facility
or appurtenance required to handle such diverted storm flow and the City's
participation shall stay the same as if the diversion did not occur.
g. The City shall pay engineering costs in the amount of six percent (6%) of
the actual cost of the City's share of construction as defined above upon
completion and acceptance of the storm drain facilities. However, for
preparation of Community Facilities Agreements, the City shall use sic
percent (6%) of the estimated cost of its share of construction as defined
above for design engineering.
h. The City shall assume its share of the cost of the storm drain improvements
and the engineering fee only if funds are available for such participation. In
the event that no funds are available for City participation, the developer
shall award the contract and deposit with the City cash, or performance
and payment bonds for 100 percent of the estimated total construction cost
of the improvements (plus ten percent (10%) for engineering and
miscellaneous costs if the City prepares the plans).
CONTRACT FOR: REMINGTON POINT, PHASE I, SECTION A AND B
II-12
L The Developer shall pay a construction inspection and materials testing fee
in the amount of two percent (2%) of the developer's share of the storm
drainage construction cost as defined above. The two percent (2%)
amount shall be included with the submittal by the developer of the
performance and payment bonds or cash together with the signed
community facilities agreement to the Development Coordinator. For the
preparation of a community facilities agreement, two percent (2%) of the
estimated cost of the Developer's share of the storm drainage construction
as defined above for the construction inspection and materials testing fee
shall be used. At the time when bids are submitted and prior to the work
order being issued, the- Developer shall submit the amount in cash
representing two percent (2%) of the Developer's share of the storm
drainage construction cost. This amount may be adjusted by the
Developer or the City, upon written request, to conform to the actual
construction cost upon completion and acceptance of the storm drainage
facilities, provided the difference is greater than twenty-five dollars
($25.00).
3. The following special cost distribution conditions shall be in lieu of, shall
supersede and shall prevail over any of the standard cost distribution
provisions which may be in conflict herewith.
None:
CONTRACT FOR: REMINGTON POINT, PHASE I, SECTION A AND B
II-13
4. Estimate of Construction Cost
Unit Developer City* Total
Item Quant ft Price Cost Cost Cost
72"RCP 420 L.F. $128.00 $53,760 $-0- $53,760
60"RCP 330 L.F. 120.00 39,600 -0- 9,450
54"RCP 90 L.F. 105.00. 9,450 -0- 3,800
51"RCP 40 L.F. 95.00 3,800 -0- 16,280
45"RCP 220 L.F. 74.00 16,280 -0- 16,280
36"RCP 50 L.F. 54.00 2,700 -0- 2,700
33"RCP 690 L.F. 48.00 33,120 -0- 33,120
30"RCP 40 L.F. 42.00 1,680 -0- 1,680
27"RCP 250 L.F. 45.00 11,250 -0- 11,250
24"RCP 1,270 L.F. 34.00 43,180 -0- 43,180
21"RCP 400 L.F. 30.00 12,000 -0- 12,000
Trench Safety 3,800 L.F. 1.00 3,800 -0- 3,800
Std. 10'Curb Inlet 15 Ea. 2,200.00 33,000 -0- 33,000
Std. 15'Curb Inlet 9 Ea. 2,700.00 24,300 -0- 24,300
4'Square Manhole 5 Ea. 2,600.00 13,000 40- 13,000
5'Square Manhole 1 Ea. 3,000.00 3,000 -0- 3,000
6'Square Manhole 3 Ea. 3,400.00 10,200 40- 10,200
72"Type"B" Headwall 1 Ea. 4,000.00 4,000 -0- 4,000
54"Type"B"Headwall 2 Ea. 3,100.00 6,200 -0- 6,200
33"Type"B"Headwall 1 Ea. 2,400.00 2,400 -0- 2,400
24"Type"B"Headwall 1 Ea. 2,000.00 2,000 -0- 2,000
Sub-Total $328,720 $-0- $328,720
10% Contingencies 32.872 _0- 32.872
Total $361592 1:0-- SWIM2
*City's,participation due to proposed park site is
CONTRACT FOR: REMINGTON POINT, PHASE I, SECTION A AND B
II-14
D. STREETS TO BE IMPROVED ON THE ASSESSMENT BASIS:
1. The Developer hereby agrees that the following streets and storm drains as
shown on Exhibit "B" and "B-1" as described below, will be improved on the
assessment basis at which time in the future that the Fort Worth City Council
determines in its sole discretion that development warrants constructing this
street. The Developer's participation will be calculated based on assessment
paving policy in effect at the time of the assessment.
LONGHORN DRIVE- From the west property line of Lot 33, Block 2, Remington
Point Addition eastward approximately 680 linear feet to the east property line of
Lot 6, Block 23, consisting of 1/2-(2) - 36 wide roadway of arterial grade.
pavement.
2. Cost Distribution
a. The City shall bear all of improvements for widths greater than:
• Forty (40) feet adjacent to property zoned single family and/or
duplex residential.
• Fifty-two (52) feet adjacent to property zoned other than single
family and/or duplex residential.
b. The Developer shall put up a cash deposit, or performance and payment
bonds acceptable to the City for 1/2 the cost of the street paving and
drainage improvements plus an additional two percent (2%) of the
estimated construction costs for construction inspection and materials
testing, as required at the time of execution of this Agreement.
C. The City shall assume its share of the cost of the street and storm drain
improvements and the engineering fee only if funds are available for such
participation. In the event that no funds are available for City participation,
the developer shall award the contract and deposit with the City cash, or
performance and payment bonds for 100 percent of the estimated total
construction cost of the improvements (plus ten percent (10%) for
engineering and miscellaneous costs if the City prepares the plans).
d. The Developer's participation in the cost of the storm drainage facilities will
be calculated in accordance with Section VI of the Policy for the Installation
of Community Facilities and shall be installed in accordance with the
Transportation and Public Works Department's "Policy For Storm Drainage
Facilities."
CONTRACT FOR: REMINGTON POINT, PHASE I, SECTION A AND B
II-15
e. The above improvements must be advertised for and the City must receive
bids, award the contract, hold a benefit hearing, and comply with the
requirements of the State Statutes and City Charter.
f. The Developer's participation must be paid in full at the time of the
construction contract award.
g. The Developer hereby agrees that the amount of his participation.in the
cost of the above improvements represents the enhancement in value and
special benefits to his property as such is defined in Vernon's Texas Civil
Statutes, Article 1105-8, Sections 7 and 9.
h. At such time that the Developer exchanges ownership of the property
adjacent to the street(s), the City shall convert all deposits to cash in order
to insure the construction and design of the facilities as shown in Exhibits
"B" and "B-1" and as described in this agreement.
3. The following special cost distribution conditions shall be in lieu of, shall
supersede and shall prevail over any of the standard cost distribution provisions
which may be in conflict herewith.
None:
CONTRACT FOR: REMINGTON POINT, PHASE I, SECTION A AND B
II-16
5. Estimate of Construction Cost
Unit. Developer Park City**
Item Quantity Price Cost Cost Cost Total
A. Street Construction
1/2 (2) 36 Wide Roadway 680 L.F. $116.00 $43,520 $-0- $35,360 $78,880
7" Reinf. Conc.
6" Lime Stab. Subgr.
4' Std. Wide Sidewalk 680 L.F. 12.00 8,160 -0- -0- 8,160
Sub-Total A $51,680 $-0- $35,360 $87,040
10% Contingencies 5.168 -0- 3.536 8.704
Total A $56,848 $-0- $38,896 $95,744
B. Storm Drain Construction***
Storm Drainage 680 L.F. $12.00 $ 8,160 $-0- $-0- $8,160
Facilities
Sub-Total B $ 8,160 $-0- $-0- $ 8,160
10% Contingencies 816 -0- -0- 816
Total B $ 8,976 $-0- $-0- $ 8,976
Total A+ B $65,824 $-0- $38,896 $104,720
**City's participation due to facilities constructed adjacent to City Parks:
Streets $ 38.896 ; Storm Drain $ -0-
***All costs for the construction of Storm Drainage Improvements are estimates.
The actual cost distribution for all the required Storm Drainage Facilities will be determined at the time
of construction.
CONTRACT FOR: REMINGTON POINT, PHASE I, SECTION A AND B
II-17
D. SUMMARY OF COST:
Developer Park City Total
Street Improvements
Construction 752,915 39,501 $ -0- $ 792,416
Design ( 6 % of
Construction Cost) 2,370 $ -0- 2,370
Construction Engineering and
Administration
( 6 % of Construction Cost) 15,058 $ 2,3704 $30,117 d 47,545
Storm Drain Improvements
Construction 361,592 $ -0- $ -0- $ 361,592
Design (-0--% of
Construction Cost) $ -0- $ _0_ $ _0_
Construction Engineering and
Administration
(7 % of Construction Cost) $ 7,232 b $ -0- e 18,079 25,311
Street Light Improvements (III)
Construction 70,400 $ -0- $ -0- 70,400
Design 10% of
Construction Cost) 7,040 $ -0-_ $ -0- 7,040
Street Name Sign Improvements (IV)
Construction 1,440 $ -0- $ -0- 1,440
TOTAL $ 1,215,677 44,241 48,196 $ 1,308,114
Future Improvements
Construction: Streets and $56,848 $-0- $38,896 $95,744
Storm Drain $ 8,976 0- $ _0_ 8,976
Design Engineering - (6%) $-0- $ 2,334 2,334
Assessment Administration -(1%) 6580- 389 1,047
Construction Engineering and
Administration ( 9%) of
Construction Cost 1,316° ,�0-f $8,109 f 9 425
Special Services $_0_ $ _0_ $ -0-
Right-of-Way Costs $_0_ $ -0- $ -0-
TOTALS (Future Improvements) $67,798* $_0_ 49,728 $117,526
TOTALS (THIS PROJECT) $1,283,475 44,241 $ 97,924 $1,425,640
*The sum of $ 1,283,475 to be deposited by the Developer prior to the execution of the contract. Does not
include Developer's Design Engineering Cost on interior streets and storm drains.
CONTRACT FOR: REMINGTON POINT, PHASE I, SECTION A AND B
II-18
r
"*Include $ -0- (including 2% of the other's.share of the estimated construction cost) to be assessed
against other property owners.
`Encompasses extraordinary survey work, preparation of right-of-way maps and descriptions, and soils
testing, if necessary.
("*) NOTE: Under terms of this agreement, the Developer's share of future improvements will be submitted
prior to execution of this agreement. Contributions from Future Developers will be collected as agreements
for these properties are executed. (All Developer costs of future improvements are considered 'Assessment
Paving" under the City's Development Policy.) The City will provide funds for its share of any future
improvements at the time a contract is awarded for the construction of these improvements.
City's participation due to facilities constructed adjacent to City Park is:
Interior: Streets $42L374., ; Storm Drains -0-
Assessment Paving: $__=Q:_; Storm Drains -0-
a,b,c Represents two percent(2%) respectively of the Developer's share of the estimated construction costs
for construction inspection and materials testing.
d,e,f Represents the City's share of the construction engineering and administration cost.
Recom ded
Hugo Malanga, P.E., ' ector
Transportation and Public Works ry��
Date
Based on Policy Revised
September, 1992
CFA Code: 98008
CONTRACT FOR: REMINGTON POINT, PHASE I, SECTION A AND B
II-19
III
STREET LIGHTS
1. The Developer agrees to provide for the installation of street
lights at the approximate locations shown in Exhibit "C"
within ninety calendar days of final acceptance of the street
construction in accordance with engineering plans and
specifications to be approved by the Transportation and Public
Works Department.
2 . If the Developer desires the City to install the lights, the
Developer must pay the amount shown below to the City at the time
after execution of the Community Facilities Agreement. The City
will prepare the plans and the Developer agrees to pay the City
100 of the estimated construction cost for the design efforts .
3. The Developer has the option to install the lights on residential
and collector streets using overhead or underground conductors,
but the lights on arterial streets require underground
conductors. The City will install all the lights that use
overhead conductors. The City will normally install all the
lights that require underground conductors, but the Developer
agrees to employ a contractor to install the lights when the City
is unable to begin installing the lights within ninety calendar
days of final acceptance of the street construction.
4 . The Developer agrees to pay the City 20 of the construction cost
for construction engineering and inspection of the street light
installation if a contractor installs the street lights .
5. The Developer agrees to dedicate all easements required for the
installation and maintenance of the street lights and to provide
for the installation of any electrical transformers required for
the proper operation of the street lights .
6. The estimated cost of this street light installation is detailed
on page III-3 and is summarized below. In the event the
Developer pays the City to do any of the work. The Developer
shall pay for the City a the time of execution of the CFA. This
will insure that the installation can be scheduled when the
streets are completed.
REMINGTON POINT
PHASE I - SECTION A
Fort Worth, Texas March 5, 1998
III-1
III
STREET LIGHTS
7. The Developer is required to install a 11-4 inch schedule 40 .PVC
conduit on the northern side of all streets or the western side
of all streets unless indicated otherwise on the plans. The
conduit shall be install at a depth of not less than 30 inches .
The installation of the conduit shall be included in the street
construction plans. The cost for the city to install street
lights has been reduced to reflect the conduit being in place.
Conduit $10,800.00
Street Lights $28,800.00
TOTAL DEVELPOER' S COST $39,600.00
REMINGTON POINT
PHASE I - SECTION A
Fort Worth, Texas March 5, 1998
III-2
III
STREET LIGHT COST ESTIMATE
QUANTITY UNIT COST TOTAL COST
INTERSECTIONS 11 EA $ 2, 000 $22, 000
Remington Parkway & Longhorn Drive
Remington Parkway & Winding Trail
Remington Parkway & Remington Court
Remington Parkway & Palomino Drive
Remington Parkway & Trotter Lane
Remington Parkway & Derby Drive
Remington Parkway & Winding Trail
Appaloosa Circle & Palomino Drive
Palomino Drive & Palomino Drive
Bronze River Road & Trotter Lane
Bronze River Road & Derby Drive
MID-BLOCK RESIDENTIAL 6 EA $ 2, 000 $12, 000
1 each on Palomino Drive
2 each on Trotter Lane
3 each on Derby Drive
CHANGE OF DIRECTION RESIDENTIAL 1 EA $ 2, 000 $ 2, 000
1 in cul-de-sac on Remington Court
Subtotal $36, 000 . 00
City' s Cost $ ---0---
Developer's Subtotal $36, 000. 00
10% for Engineering $ 3, 600 . 00
Project Total $39, 600 .00__
Adjacent Developer's Cost $ __0__
Developer's Cost $39,600.00
Installed Conduit By Developer $10,800.00
To Be Paid to the City of Fort Worth $28,800.00
REMINGTON POINT
PHASE I - SECTION A
Fort Worth, Texas March 5, 1998
III-3
IV
STREET NAME SIGNS
1. The Developer agrees to pay for the street name sign
installations required by this development to the extent of
$80. 00 per intersection. This unit cost will be revised annually
by the Department of Transportation and Public Works to reflect
prevailing costs of materials and labor.
2. This development creates the following eleven (11) intersections
at a cost to the Developer of $880.00:
Remington Parkway & Longhorn Drive
Remington Parkway & Winding Trail
Remington Parkway & Remington Court
Remington Parkway & Palomino Drive
Remington Parkway & Trotter Lane
Remington Parkway & Derby Drive
Remington Parkway & Winding Trail
Appaloosa Circle & Palomino Drive
Palomino Drive & Palomino Drive
Bronze River Road & Trotter Lane
Bronze River Road & Derby Drive
3. The Developer may either deposit cash funds with the City equal
to the above amount at the time of Community Facilities Agreement
approval or wait until the street name signs are to be installed.
If the Developer elects to wait, the cost of street name signs
will be at the rate prevailing when the Developer deposits funds
with the City.
4 . The City will install the street name signs upon final approval
of the street construction. The street name signs will remain
the property of, and will be maintained by, the City.
REMINGTON POINT
PHASE I - SECTION A
Fort Worth, Texas March 5, 1998
IV-1
III
STREET LIGHTS
1. The Developer agrees to provide for the installation of street
lights at the approximate locations shown in Exhibit "C" within
ninety calendar days of final acceptance of the street
construction in accordance with engineering plans and
specifications to be approved by the Transportation and Public
Works Department.
2 . If the Developer desires the City to install the lights, the
Developer must pay the amount shown below to the City at the time
after execution of the Community Facilities Agreement. The City
will prepare the plans and the Developer agrees to pay the City
10% of the estimated construction cost for the design efforts.
3 . The Developer has the option to install the lights on residential
and collector streets using overhead or underground conductors,
but the lights on arterial streets require underground
conductors . The City will install all the lights that use
overhead conductors. The City will normally install all the
lights that require underground conductors, but the Developer
agrees to employ a contractor to install the lights when the City
is unable to begin installing the lights within ninety calendar
days of final acceptance 'of the street construction.
4. The Developer agrees to pay the City 2% of the construction cost
for construction engineering and inspection of the street light
installation if a contractor installs the streetlights .
5 . The Developer agrees to dedicate all easements required for the
installation and maintenance of the street lights and to provide
for the installation of any electrical transformers required for
the proper operation of the street lights .
6 . The estimated cost of this street light installation is detailed
on page 111-3 and is summarized below. In the event the
Developer pays the City to do any of the work. The Developer
shall pay for the City a time of execution of the CFA. This will
insure that the installation can be scheduled when the streets
are completed.
REMINGTON POINT
PHASE I - SECTION B
Fort Worth, Texas February 17, 1999
III
STREET LIGHTS
7 . The Developer is required to install a 11/-inch schedule 40 PVC
conduit on the northern side of all streets or the western side
of all streets unless indicated otherwise on the plans. The
conduit shall be install at a depth of not less than 30 inches.
The installation of the conduit shall be included in the street
construction plans . The cost for the city to install
streetlights has been reduced to reflect the conduit being in
place.
TOTAL DEVELPOER'S COST $30, 800.00
REMINGTON POINT
PHASE I - SECTION B
Fort Worth, Texas February 17, 1999
111-2
III
STREET LIGHT COST ESTIMATE
QUANTITY UNIT COST TOTAL COST
INTERSECTIONS 5 EA $ 2, 000 $10, 000
Winding Trail & Winding Court
Winding Trail & rustic Drive
Rustic Drive & Winding Trail
Rustic Drive & Hunter Lane
Hunter Lane & Fox Hunt Trail
MID-BLOCK RESIDENTIAL 5 EA $ 2, 000 $10, 000
3 each on Winding Trail
1 each on Rustic Drive
1 each on Hunter Court
CHANGE OF DIRECTION RESIDENTIAL 4 EA $ 2, 000 $ 8, 000
4 in cul-de-sac
Subtotal $28, 000 .00
City' s Cost $ ---0---
Developer' s Subtotal $28, 000 .00
10a CONTENGENCIES $ 2, 800 .00
Project Total $30, 800 .00
Adjacent Developer' s Cost $ --0--
Developer's Cost $30, 800.00
REMINGTON POINT
PHASE I - SECTION B
Fort Worth, Texas February 17, 1999
III-3
IV
STREET NAME SIGNS
1. The Developer agrees to pay for the street name sign
installations required by this development to the extent of
$80 .00 per intersection. This unit cost will be revised annually
by the Department of Transportation and Public Works to reflect
prevailing costs of materials and labor.
2 . This development creates the following Seven (7) intersections at
a cost to the Developer of $560.00 :
Winding Trail & Winding Court
Winding Trail & Rustic Drive
Rustic Drive & Winding Trail
Rustic Drive & Rustic Drive
Winding Trail & Winding Trail
Rustic Drive & Hunter Lane
Hunter Lane & Fox Hunt Trail
3 . The Developer may either deposit cash funds with the City equal
to the above amount at the time of Community Facilities Agreement
approval or wait until the street name signs are to be installed.
If the Developer elects to wait, the cost of street name signs
will be at the rate prevailing when the Developer deposits funds
with the City.
4 . The City will install the street name signs upon final approval
of the street construction. The street name signs will remain
the property of, and will be maintained by, the City.
REMINGTON POINT
PHASE I - SECTION B
Fort Worth, Texas February 17, 1999
IV-1
V.
WATER AND/OR SANITARY SEWER FACILITIES
ATTRIBUTABLE TO PARK DEPARTMENT
A. One half of the front foot charges of the water facilities herein
concerned exclusive of service line and engineering attributable to the
Parks and Community Services Department is estimated to be$ 478.
B. One half of the front foot charges of the sanitary sewer facilities herein
concerned exclusive of service line and engineering attributable to the
Parks and Community Services Department is estimated to be$ 557.
C. The City's shares of water and sanitary sewer costs for services to the
proposed park will be due and payable to the developer upon;
1. Completion of the related water and sanitary sewer facilities.
2. Delivery of required park dedication documents for the park property to
the City.
Whichever event occurs last.
Recommended
Richard Zavala, Director
Parks and Community Services Department
C:\wp61\R.dW.ddadm\,p
PAVING FACILITIES ATTRIBUTABLE
TO PARK DEVELOPMENT
A. One half of linear foot charges of park paving, including design
engineering and inspection contingencies attributable to the Parks and
Community Services Department at an.estimated cost of$ 42,374.
B. The City's share of park paving costs to the proposed park will be due
and payable to the developers upon:
1. Completion of park paving; and
2. Delivery of the required park dedication documents for the park
property to the City.
Whichever event occurs last.
Recommended,
Richard Zavala, Director
Parks and Community Services Department
C:\wp61\RmAeladdmdnkp
ADDENDUM
The following constitutes an Addendum to be read and construed with and as a part of that
certain Community Facilities Agreement,heretofore entered into by and between Zena Development
Corporation,through Pat Difonzo and MEII Partnership George Haughty,Vice President-Developers
and the City of Fort Worth, a municipal corporation in Tarrant County, Texas dated
, and designated as Contract No. in the office of the City
Secretary of the City of Fort Worth, Texas.
(1)
The Developers and the City hereby agree as follows:
A. Developers agree to deed to the public one parcel of land
approximately 10.014 acres in size out of Remington Pointe Phase A
and B for the purpose of a public park as so designated by the City
Council, City of Fort Worth, the said parcel of land being the
delineated area shown on the attached Exhibit "D", Parks, which is
hereby incorporated herein by reference for identifying the land to be
so dedicated. The deeding of said parks to the City shall occur no
later than ninety (90) days after approval of this Addendum by the
City Council of the City of Fort Worth.
B. Developers agree to have or to cause to have the said above described
area,which is so with plans and specifications as approved by the City
Parks and Community Services Department. Developers agrees to
provide a minimum of six(6")inches of topsoil over areas of cut or fill
within the designated park areas. The topsoil shall be relatively free
of rock and other debris.
C. Developers agree to seed areas of cut or fill with suitable grass as
determined by the City Parks and Community Services Department.
D. Developers agree to have or to cause to have suitable clean-up of the
park areas as determined by the City Parks and Community Services
Department prior to deeding of said areas to the City. This would
include,but not be limited to,removal of trash and construction debris
deposited on the said park areas.
E. Developers agree that there shall be no transfer of interest in said park
area, either express or implied, prior to deeding, of said areas to the
City without the consent of the City Manager, City of Fort Worth.
C:\wp61Vt®dIe%.ddmdmkp
F. The Developers will, at the time of dedication of the park,provide the
Parks and Community Services Department with final plat drawings
of the park that will be submitted and filed by the Parks and
Community Services Department. The drawings will be provided at
the expense of the Developers.
G. The City Parks and Community Services Department's participation
in this contract as to land acquisition, development and maintenance
is subject to City Council approval and adequate funding of the
project.
Recommended:
Richard Zavala,Director
Parks and Community Services Department
C:\wp6IIA.dk%ddmdm\cp
VI
GENERAL REQUIREMENTS
A. It is agreed and understood by the parties hereto that the developer shall
employ a civil engineer, licensed to practice in the State of Texas, for the
design and preparation of plans and specifications for the construction of all
facilities covered by this contract, subject to Paragraph B.
B. For any project estimated to cost less than 510,000 or for any project designed
to serve a single lot or tract, the developer may at his option request the City to
provide the design engineering, and if such request is granted, the developer
shall pay to the City an amount equal to 10 percent of the final construction
cost of such project for such engineering services.
C. In the event the developer -employs his own engineer to prepare plans and
specifications for any or all facilities, the plans and specifications so prepared
shall be subject to -approval by the department having jurisdiction. One (1)
reproducible set of plans with 15 prints and 35 specifications for each facility
shall be furnished the department having jurisdiction. It is agreed and
understood that in the event of any disagreement on the plans and
specifications, the decision of the Transportation/Public Works Department
Director, and/or Water Department Director will be final.
D. It is further agreed and understood by the parties*hereto that upon acceptance
by the City, title to all facilities and improvements mentioned hereinabove shall
be vested at all times in the City of Fort Worth, and developer hereby
relinquishes any right, title; or interest in and to said facilities or any part hereof.
E. Work hereunder shall be completed within two (2) years from date hereof, and
it is understood that any obligation on the part of the City to make any
obligation on the part of the City to make any refunds with respect to water
VI-1
and/or sanitary sewer facilities shall cease upon the expiration of two (2) years
from date hereof, except for refunds due from "front foot charges" on water
and sanitary sewer mains, which refunds may continue to be made for a period
of ten (10) years commencing on the date that.approach mains are accepted by
the Director. If less than 70% of the eligible collections due to the developer
has been collected, the Developer may request in writing an extension of up to
an additional 10 years for collection of front charges. If the construction under
the Community Facilities Contract shall have started within the two-year period,
the life of the Community Facilities Contract shall be extended for an additional
one-year period. Community Facility Contracts not completed within the time
periods stated above will require renewal of the contract with all updated
agreements being in compliance with the policies in effect at the time of such
renewal. Developers must recognize that City funds may not be available to
pay all or a portion of the normal City share for renewal contracts. It must be
understood by all parties to the Community Facilities Contract that any of the
facilities or requirements included in the contract that are to be performed by
the developer, but not performed by the developer within the time periods
stated above, may be completed by the City at the developer's expense. The
City of Fort Worth shall not be obligated to make any refunds due to the
developer on any facilities constructed under this agreement until all provisions
of the agreement are fulfilled.
F. PERFORMANCE AND PAYMENT GUARANTEES
1. For Street Storm Drain Street Light and Street Name Sion Facilities on a
Non-Assessment Basis:
Performance and Payment bonds or cash deposits acceptable to the City
are required to be furnished by the developer for the installation. of
streets, storm drains, street lights, and street name signs, on a non-
assessment basis, and must be furnished to the City prior to execution of
this contract. The performance and payment bonds shall be in the
VI-2
amount of one hundred percent (100%) of the developer's estimated
share of the cost of the streets, storm drains, street lights, and street
name signs. If the deposit is in the form of cash, the deposit shall be in
the amount of one hundred twenty five percent (125%) of the
developer's estimated cost of the streets, storm drains, street lights,
street name signs, and change orders (during the course of the project).
2. For Paving Assessment:
Performance and payment bonds or cash deposits, acceptable to the City
are required to be furnished by the developer for one hundred percent
(100%) of the developer's estimated cost resulting from the paving,
drainage, lighting and name signage of border streets on an assessment
paving basis. (Reference Section VI, Item 3, Development Procedures
Manual.) Said performance and payment bonds or cash deposits must
be furnished to the City prior to execution of this,contract.
3. For Water and Sanitary Sewer Facilities:
Performance and payment bonds, or cash deposits, acceptable to the
City are required to be furnished by the developer for the installation of
water and sanitary sewer facilities.
a. Where the developer lets the construction contract for water and
sanitary sewer facilities, performance and payment bonds shall be
deposited, in the amount of one hundred percent (100%) of the
estimated cost of construction, cash deposited shall be in the
amount of one hundred twenty-five percent (125%), as stated in
the construction contract, is required to be furnished simultaneous
with execution of the construction contract.
b. Where the City lets the contract, performance and payment bonds
VI-3
shall be deposited, in the amount of one hundred percent (100%)
of the estimated cost of construction, as stated in the construction
contract, is required prior to issuance of a work order by the City.
4. Tunes of Guarantees:
a. Performance and Payment' Bonds: Are required for the
construction of streets, storm drains,street lights, and street name
signs, the following terms and conditions shall apply:
(1) The bonds will be standard performance and payment bonds
provided by a licensed surety company on forms furnished
by that surety company.
(2) The bonds will be subject to the review and approval by the
City Attorney.
(3) The performance bond shall be payable to the City and shall
guarantee performance of the street, storm drain, street
light, and street name sign construction contemplated under
this contract.
(4) The Payment Bond shall guarantee payment for all labor,
materials and equipment furnished in connection with the
street, storm drain, street light, and street name sign
construction contemplated under this contract.
(5) In order for a surety company to be acceptable, the name of
the surety shall be included on the current U.S. Treasury list
of acceptable sureties, and the amount of bond written by
any one acceptable company shall not exceed the amount
shown on the Treasury list for that company.
VI-4
b. Cash Deposits: A cash deposit shall be acceptable with
verification that an attempt to secure a bond has been denied,
such deposit shall be made in the Treasury of the City of Fort
Worth. The City of Fort Worth will not pay interest on any such
cash deposit.
(1) At such time that the contract is bid for projects other than
assessment projects, the cash deposit shall be adjusted to
one hundred twenty five percent (125%) of the actual bid
price. No contract shall be awarded and no work order shall
be issued.until such adjustment is made.
(2) When a cash deposit is made, the additional twenty-five
percent (25%) beyond the one hundred percent (100%) of
the estimated developer's share represents additional .funds
for change orders during the course of the project. This
twenty five percent (25%) shall be considered the
developer's change order fund.
(3) If the developer makes a cash deposit with the City, the
developer may make timely withdrawals from the cash funds
in order to pay the contractor and/or subcontractor based on
amount of construction work completed as .approved and
verified by the City Engineer or authorized representative.
For projects whose actual total contract cost is $400,000 or
greater, such release of security shall equal the percentage
of work completed for that period multiplied by ninety-five
percent (95%). This percentage shall be applied to the
actual current total contract cost to determine the amount
that may be reduced upon request of developer. For
projects whose actual total contract cost is less than
VI-5
5400,000, such . release of security shall equal the
percentage of work completed for that period multiplied by
ninety percent (90%). This percentage shall then be applied
to the actual current total contract cost to determine the
amount of security that may be reduced upon request of
developer. The remaining security, five percent (5%) for
projects of 5400,000 or greater and ten percent (10%) for
projects less than 5400,000 together with the remaining
funds from the Developer's Change Order Fund, if any, will
be released to the developer after the project has been
accepted by the City. Partial release of funds shall be limited
to once per month. There shall be no partial release of funds
for projects of less than $25,000. Proof that the developer
has paid the contractor shall be required for partial releases.
I
VI-6
5. Purpose. Term and Renewal of Guarantees:
a. Performance and payment bonds, and cash deposits furnished
hereunder shall be for the purposes of guaranteeing satisfactory
compliance by the developer with all requirements, terms and
conditions of this agreement, including, but not limited to, the
satisfactory completion of the improvements prescribed herein, and
the making of payments to any person, firm, corporation or other
entity with whom the developer has a direct contractual
relationship for the performance of work hereunder.
b. Developer shall keep said performance and payment bonds, and/or
cash deposits in full force and effect until such time as developer
has fully complied with the terms and conditions of this
agreement, and failure to keep same in force and effect shall
constitute a default and breach of this agreement.
G. The City shall assume its share of the cost of the improvements covered by this
agreement along with the engineering fee only if funds are available for such
participation. In the event that no funds are available for City participation, the
developer shall award the contract and deposit with the City a performance and
payment bonds or cash for 100 percent of the estimated total construction cost
of the improvements [plus ten percent (10%) for engineering and miscellaneous
costs if the City prepares the plans].
H. On all facilities included in this agreement for which the developer awards its
own construction contract, the developer agrees to follow the following
procedures:
1. If the City participates in the cost of the facilities, the construction
contract must be advertised, bid and awarded in accordance with State
statutes prescribing the requirements for the letting of contracts for the
VI-7
construction of public work. This includes advertising in a local
newspaper at least twice in one or more newspapers of general
circulation in the county or counties in which the work is to be
performed. The second publication must be on or before the tenth
(10th) day before the first date bids may be submitted. The bids must
be opened by an officer or employee of the City at or in an office of the
City.
2. To employ a construction contractor who is approved by the Director of
the Department having jurisdiction over the facility to be so constructed,
said contractor to meet City's requirements for being insured, licensed
and bonded to do work in public streets.
3. To require the contractor to furnish to the City payment, performance
and maintenance bonds in the names of the City and the developer for
one hundred percent (100%) of the contract price of the facility, said
bonds to be furnished before work is commence. Developer further shall
require the contractor to provide public liability insurance in the amounts
required by the City's specifications covering that particular work.
4. To give 48 hours notice to the department having jurisdiction of intent to
commence construction of the facility so that City inspection personnel
will be available; and to-require the contractor to allow the construction
to be subject to inspection at any and all times by City inspection forces,
and not to install any sanitary sewer, storm drain, or water pipe unless a
responsible City inspector is present and gives his consent to proceed,
and to make such laboratory tests of materials being used as may be
required by the City.
5. To secure approval by the Director of the Department having jurisdiction
of any and all partial and final payments to the contractor. Said approval
shall be subject to and in accordance with requirements of this
VI-8
agreement, and is not to constitute approval of the quantities of which
payment is based.
6. To delay connections of buildings to service lines of sewer and water
mains constructed under this contract until said sewer and water mains
and service lines have been completed to the satisfaction of the Water
Department.
7. It is expressly.understood by and between the developer and the City of
Fort Worth, that in the event the developer elects to award one single
construction contract for storm drainage and pavement, said contract
shall be separated in the bidding and City participation, if any, shall be
limited to the lowest possible combination of bids.as if each of the above
were awarded as separate contracts.
I. Anything to the contrary herein notwithstanding, for and in consideration of the
promises and the covenants herein made by the City, the developer covenants
and agrees as follows:
1. The developer shall make separate elections with regard to water and/or
sanitary sewer facilities, storm drainage, street improvements and street
lights as to whether the work prescribed herein shall be performed by the
City, or by its contractor, or by the developer, through its contractor.
Each separate election shall be made in writing and delivered to City no
later than six (6) months prior to the expiration of this agreement. In the
event any of such separate elections has not been made and delivered to
City by such date, it shall be conclusively presumed that the developer
has elected that such work be performed by the City in accordance with
all of the terms of this agreement, and in particular Paragraph V-F hereof.
2. Irrespective of any such election and whether the work is to be
performed by the City, or by its contractor or by the developer through
VI-9
its contractor, the developer covenants and agrees to deliver to the City
a performance and payment guarantee in accordance with the provisions
of Paragraph V-F of this agreement.
3. In addition to the guarantee required in the preceding paragraph, in the
event developer elects that the work be performed by the City, or by the
City's contractor, or such election is presumed as provided above, the
developer covenants and agrees to pay to the City the developer's share
of the estimated construction costs. The amount of such estimated
payment shall be computed as set out in Sections 1, 11, III, IV and V
hereof, based upon the lowest responsive bid for such work, as
determined by City, or upon a cost estimated to be performed by City
forces prepared by the City, as appropriate, and shall be subject to
adjustment to actual costs upon final completion of the subject work.
Such estimated payment shall be made promptly upon demand by City,
it being understood that such payment will be made after the receipt of
bids for work, but in every case prior to the award of any construction
contract, unless otherwise specifically set out herein.
4. Developer further covenants and agrees to, and by these presents does
hereby fully indemnify, hold harmless and defend the City, its officers,
agents and employees from and against any and all claims, suits or
causes of .action of any nature whatsoever, whether real or asserted,
brought for or on account of any injuries or damages to persons or
property, including death, resulting from, or in any way connected with,
this agreement or the construction of the improvements or facilities
described herein, whether or not causes, on whole or in part, by the
negligence of officers, agents, employees, licensees, invitees,
contractors or subcontractors of the City; and in addition the developer
covenants to indemnify, hold harmless and defend the City, its officers,
agents and employees from and against all claims, suits, or causes or
action or any nature whatsoever brought for, or on account of any
VI-10
injuries or damages to persons or property, including death, resulting
from any failure to properly safeguard the work or an account of any act,
intentional or otherwise, neglect or misconduct of the developer, its
contractors, subcontractors, agents or employees, whether or not
caused, on whole or in part, by the negligence of officers, agents,
employees, licensees, invitees, contractors or subcontractors of the City.
5. Developer covenants and agrees that it discriminates against no
individual involving employment as prohibited by the terms of Ordinance
No. 7278 (as amended by Ordinance No. 7400), an ordinance prohibiting
discrimination in employment practice because of race, creed, color,
religion, national origin (except for illegal aliens), sex or age, unless sex
or age is a bonafide occupational qualification, subcontractor or
employment agency, either furnishing or referring applicants to such
developer, nor any agent of developer is discriminating against any
individual involving employment as prohibited by the terms of such
Ordinance No. 7278 (as amended by Ordinance No. 7400).
J. The attached Exhibits Appendix "A", A, A1, B, 131, C, and D, and Location Map
are made a part hereof for all intents and purposes.
K. Venue of any action brought hereunder shall be in Fort Worth, Tarrant County,
Texas.
L. The City's Policy for the Installation of Community Facilities, as adopted by the
City Council on September 1992, is hereby incorporated herein by reference,
and Developer covenants and agrees to comply with said Policy as a condition
of this contract and as a condition to the platting of the subject property.
IN TESTIMONY WHEREOF, the City of Fort Worth has caused this instrument to be
executed in quadruplicate in its name and on its behalf by its City Manager, attested
by its City Secretary, with the corporate seal of the City affixed, and said Developer
VIA 1
has executed this instrument in quadru icate, at Fort Worth, Texas this the
day of ym---� _, 19
6. 1
ATTEST: CITY OF FORT WORTH
•
Gloria Pearson ~ /ft4ire Groomer
City Secretary Assistant City Manager
APPROVED AT TO FORM AND DEVELOPER:
LEGALITY: REMINGTON POINT LP,
By: Zena Development Corporation
General P rtners
<� By:
ary teinberger Pat DiFonzo, Preside t
Assistant City Attorney
B!�: MHI Partnership, Ltd.,
By McGuyer Home, uilders, Inc.
Contract Authorization
By:
Date eorge Haug ice President
114
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PROP. 29' 8—B ROADWAY/50' ROW PQ '
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PROP. 29' B—B ROADWAY/50' ROW
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PROJECT NM 971051
COMPLETION AGREEMENT
This Completion Agreement(hereinafter called the "Agreement")is made and entered into by and
among the City of Fort Worth (hereinafter called the "City"), MHI Partnership, Ltd. by and through
McGuyer Homebuilders, Inc., its General Partner (hereinafter called the "Developer"), and Residential
Funding Corporation (hereinafter called the "Lender"), effective as of August 1, 1998. The City, the
Developer and the Lender are hereinafter collectively called the "Parties".
WITNESSETH:
WHEREAS, the Developer owns that certain tract of real property that contains approximately
27.928 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 Remington Pointe,Phase 1B); and
WHEREAS, the Developer intends to develop Remington Pointe, Phase 113, as an addition to the
City; and
WHEREAS, the Developer and the City have entered into a Community Facilities Agreement
relating to the development of Remington Pointe,Phase 1B (hereinafter called the"CFA" ; and
WHEREAS, the City has required certain assurances of the availability of funds to complete the
streets, street signs and lights, and the water and sewer utilities for the development of Remington Pointe,
Phase 1B, (herein collectively called the"Community Facilities"); and
WHEREAS, in order to provide such assurances as have been required by the City, the Lender
has agreed to advance certain funds to the City for Hard Costs (which term is hereinafter defined) subject
to,and in accordance with,the terms,provisions and conditions of this Agreement; and
WHEREAS, the Developer has granted to the Lender as additional security for the Loan (which
term is hereinafter defined) a security interest in all plans and specifications for the development of
Remington Pointe,Phase 113, (hereinafter collectively called the "Plans" ; and
WHEREAS, the Parties desire to set forth the terms and conditions of such accommodations as
are described above.
NOW THEREFORE, for and in consideration of the benefits to be derived from
the mutual observance by the Parties of the terms and conditions hereof, and for and in
consideration of Ten Dollars($10.00)and other good and valuable consideration,the
receipt,adequacy and sufficiency of which are hereby acknowledged,the Parties agree
As follows:
1. Recitals. The foregoing recitals are true, correct and complete and constitute the basis for
this Agreement and they are incorporated into this Agreement for all purposes.
2. The Completion Amount. The City and the Developer agree that the Hard Costs required
to complete the Community Facilities in the aggregate should not exceed the sum of Seven Hundred
Sixteen Thousand Twenty-Seven and No\100 dollars ($716,027.00). (hereinafter called the "Completion
Amount" . Notwithstanding the foregoing, it is acknowledged that the actual costs of completion of the
Community Facilities may vary as a result of change orders agreed to by the Parties, but such variances
for the purposes of this Agreement shall not affect the Completion Amount as used herein.
3. Adjustments to the Completion Amount. The Lender will from time to time make
advances to the Developer for the development of Remington Pointe, Phase 1B under the development
loan that has been made by the Lender to the Developer for the purpose of financing the costs of
constructing the Community Facilities of Remington Pointe, Phase 1B (hereinafter called the "Loan"
subject to, and in accordance with, the terms, conditions and provisions of the Loan Documents (which
term is hereinafter defined) evidencing and securing the Loan. Some of those advances shall be for Hard
Costs as specified in the "Approved Budget" relating to the Loan, a copy of which Approved Budget is
marked Exhibit B, attached hereto and incorporated herein for all purposes, with the Hard Costs (which
term is hereinafter defined) line items highlighted. The term "Hard Costs" shall mean the actual costs of
construction and installation of the Community Facilities. To the extent that advances under the Loan are
for the payment of Hard Costs, the Completion Amount shall be deemed reduced, dollar for dollar. The
Lender may withhold statutory retainage from any advances under the Loan or pursuant to this
Agreement.All such retainage withheld,to the extent it is attributable to Hard Costs, shall also reduce the
Completion Amount dollar for dollar. All retainage withheld by the Lender for Hard Costs that are
advanced to the City pursuant to this Agreement shall be released to the City as provided in the Texas
Property Code upon expiration of the statutory retainage period.
To keep the City advised of the Hard Costs,the Developer shall promptly deliver to the City those
portions of all draw requests delivered to the Lender which contain requests for the payment of Hard
Costs and such draw requests shall itemize Hard Costs in such form and detail as shall be reasonably
acceptable to the Lender and the City. Upon approval of Lender of any draw request containing requests
for Hard Costs to be advanced to the Developer, the Lender shall give notice to the City setting forth the
amount of any Hard Costs to be advanced (the "Funding Notice"). The City will be deemed to have
approved the proposed advance of Hard Costs by the Lender, unless it so notifies in writing Lender that it
objects to such advancement of Hard Costs within three(3)business days of the receipt by the City of the
CONIPLETION AGREEMENT—Page 2
Funding Notice. If the City objects to such advancements of Hard Costs by the Lender, the City will have
its own inspector examine and evaluate the construction; then the Lender and the City shall cause their
respective inspectors or consultants to cooperate and shall use their best reasonable efforts to settle any
dispute over the appropriateness of any advance of Hard Costs. The Developer acknowledges that the
Lender's obligation to fund advances under the Loan within a specified time frame shall be deemed
waived by the Developer if the City and the Lender are in dispute with respect to any requested advance.
If any such dispute is not resolved promptly, the two consultants shall agree within five(5)business days
on a qualified third party to resolve the dispute whose decision shall be final and binding on all Parties
and shall be rendered within five (5)business days of such consultant's selection. Any delay occasioned
by any such dispute shall extend the Completion Date by such period of time.
4. Completion by the Developer. The Developer agrees to complete the Community
Facilities on or before the date for completion that is established in the Loan Documents plus thirty (30)
days (hereinafter called the "Completion Date"), in accordance with the CFA,the Plans that are approved
by the Lender and the City and all documents evidencing or securing the Loan (which documents are
hereinafter collectively called the "Loan Documents"). For the purposes of this Agreement, the
development of Remington Pointe, Phase 1B shall be deemed complete upon acceptance by the City of
the Community Facilities. The City shall promptly notify the Lender and the Developer upon such
acceptance.
5. Completion by the City. In the event that either: (A) the development of Remington
Pointe, Phase 1B is not completed by the Completion Date for any reason whatsoever, or (B) the
Developer is in default under the Loan and the Lender notifies the City that the Developer is in default
and, at the Lender's sole option, requests the City to complete development, whichever shall first occur,
then, the City may, at the cost and expense of the Developer, commence, pursue and complete the
installation of the Community Facilities in a reasonably timely, diligent and workmanlike manner in
accordance with the Plans, subject to the terms of this Agreement. The Lender and the Developer agree
that the City may use the Plans as necessary to complete the Community Facilities. Prior to the
commencement of any work by the City,the City shall provide evidence of insurance reasonably required
by the Lender naming the Lender and the Developer as additional insureds.
6. Advance of Completion Costs to the City and Delivery of Hard Costs Collateral to the
Cam. Upon the occurrence of either event described in paragraph 5 above, if the City elects within ten
(10)business days of the Completion Date or notice from the Lender, as the case may be, to complete the
construction of the Community Facilities,the Lender shall thereafter advance to the City any remaining
COMPLETION AGREEMENT-3
undisbursed Hard Costs specified in the Approved Budget relating to the Loan that are incurred by the
City in completing the Community Facilities in an aggregate sum not to exceed the Completion Amount,
as adjusted,by funding monthly draws to the City as described herein.
The Developer hereby authorizes and instructs the Lender to make periodic advances of any
remaining undisbursed Hard Costs specified in the Approved Budget not to exceed the Completion
Amount in increments paid to the City within the same time period specified in the Loan Documents after
receipt of advance requests meeting the requirements of the Loan Documents from the City of the Hard
Costs remaining to be drawn under the Loan as specified in the Approved Budget incurred by it and
approved by the Lender, subject to retainage.The advance requests from the City shall be made not more
frequently than monthly (save and except for final payment) and shall be accompanied by reasonably
acceptable evidence of the Hard Costs specified in the Approved Budget that have been incurred by the
City. The City shall use the funds advance for the payment of such Hard Costs as are described in the
advance request, and if the City fails to do so, the Lender's obligation to fund additional advances shall
thereafter by terminated and of no continuing force and/or effect. The City shall provide mechanic's and
materialmen's releases as may be reasonably requested by the Lender. Upon request of the City, the
Lender may pay such advances directly to the suppliers and contractors described in the advance request.
If the City does not timely elect to complete the construction of the Community Facilities, then
the Lender may at its election terminate this Agreement, and at its option, proceed to complete the
Community Facilities, foreclose on any of its collateral, or take any and all such action as may be
provided under the Loan Documents.
7. Completion by the Lender. The Lender may, at its discretion, but shall not be obligated
to, undertake to complete the Community Facilities if there is any default under any Loan Documents in
lieu of requesting the City to complete the Community Facilities. In such event, however, the Lender
must complete the Community Facilities by the Completion Date or the City shall complete the same as
provided above. If the Lender elects to complete the Community Facilities, any Hard Costs it expends
shall, dollar for dollar,reduce the Completion Amount.
8. Easements. In the event the City or the Lender undertakes the completion of the
Community Facilities, the Developer (and to the extent necessary the Lender) grants to the City and the
Lender open access to Remington Pointe, Phase 113 and shall execute and deliver such temporary
easements over and across the entire Remington Pointe, Phase 1B for the purpose of access and use for
the completion of the construction of the Community Facilities in accordance with this Agreement.To the
extent requested by the City and the Lender, written temporary construction easements in form
COMPLETION AGRREMENT—Page 4
acceptable to the City and the Lender shall be executed by the Developer and filed of record.Nothing in
this paragraph shall reduce any rights of the Lender or obligations of the Developer under the Loan
Documents.
9. Lender's Rights. Nothing in this Agreement shall affect any portion of the Lender's
collateral for the Loan or limit or impair the Lender's right to foreclose the same or deal with the
collateral as it elects in accordance with the Loan Documents.
10. Satisfaction of the City Requirements. The City agrees that the assurances and covenants
contained in this Agreement satisfy all requirements of the City with respect to payment and performance
bonds or other requirements for security in connection with the development of Remington Pointe,Phase
1B and the completion of the Community Facilities that are contained in the CFA or in any 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.
11. Termination. This Agreement shall terminate upon the earlier to occur of the following:
(A) acceptance by the City of the Community Facilities; (13) mutual written agreement of all of the
Parties, or(C)the reduction of the Completion Amount to zero.
12. Final Plat. The Parties acknowledge and agree that the City shall hold the final plat of
Remington Pointe, Phase 1B until the Community Facilities are substantially completed and all Hard
Costs contractors have been paid, less retainage. Upon receipt and acceptance by the City of evidence of
substantial completion and the payment by the Developer of all Hard Costs contractors, the City shall
immediately file the final plat of Remington Pointe, Phase 1B in the Tarrant County Plat Records. The
purpose of the City retaining the final plat of Remington Pointe, Phase 1B as prescribed herein is to
guarantee the Developer's obligations under the CFA.
13. Construction Contracts.The Developer agrees to include in all construction contracts 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 guaranty
payment for work performed on the Community Facilities;
(B) A statement that Remington Pointe,Phase 1B is private property
and that same may be subject to mechanic's and materialmen's liens;
(C) A requirement that the contractor release the City from any claim
that is related to any work on Remington Pointe,Phase 1B and
(D) A requirement that the contractor include in its subcontracts the
statements contained in(A), (B)and(C) above.
COMPLETION AGREEMENT—Page 5
14. Miscellaneous.
(A) Non-Assignment of Agreement. This Agreement may not be assigned
by the City or the Developer without the prior written consent of all the other Parties.
Provided,however, in the event Lender assigns this Agreement, such assignment shall
not invalidate any obligations of the Lender to the other Parties hereto,it being expressly
understood that Lender's obligations hereunder shall survive any assignment hereof.
(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:
CITY OF FORT WORTH
1000 THROCKMORTON STREET
FORT WORTH,TEXAS 76102
ATTENTION: RAQUEL VELASQUEZ,
ADMINISTRATIVE ASSISTANT
TELECOPY NUMBER: 817-871-7905
CONFIRMATION NUMBER: 817-871-8092
With a copy thereof addressed and delivered as follows:
CITY OF FORT WORTH
100 THROCKMORTON STREET
FORT WORTH,TEXAS 76102
ATTENTION: GARY STEINBERGER,ESQ.
ASSISTANT CITY ATTORNEY
TELECOPY NUMBER: 817-871-8359
CONFIRMATION NUMBER: 817-871-7600
COMPLETION AGREEMENT—Page 6
II
(ii)Notice to the Developer shall be addressed and delivered as follows:
MM PARTNERSHIP,LTD.
BY:MCGUYER HOMEBUILDERS,INC.,ITS GENERAL PARTNER
7676 WOODWAY, SUITE 104
HOUSTON,TEXAS 77063
ATTENTION: GEORGE HAUGHT
VICE PRESIDENT
TELECOPY NUMBER: 713/952-5637
CONFIRMATION NUMBER: 713/952-6767
(iii) Notice to the Lender shall be addressed and delivered as follows:
RESIDENTIAL FUNDING CORPORATION
8400 NORMANDALE LAKE BOULEVARD, SUITE 600
MINNEAPOLIS,MINNESOTA 55437
ATTENTION MANAGING DIRECTOR—CONSTRUCTION FINANCE
TELECOPY NUMBER: 612/832-7254
CONFIRMATION NUMBER: 612/832-7435
With a copy thereof addressed and delivered as follows:
RESIDENTIAL FUNDING CORPORATION
8400 NORMANDALE LAKE BOULEVARD, SUITE 600
MINNEAPOLIS,MINNESOTA 55437
ATTENTION GENERAL COUNSEL
TELECOPY NUMBER: 612/857-6911
CONFIRMATION NUMBER: 612/857-6958
A party may change its address for notice upon prior written notice to the other Parties pursuant
to the terms hereof.
COMPLETION AGREEMENT—Page 7
(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 the 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 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; provided, however, that this Agreement shall not supersede, amend or
modify any of the Loan Documents or any portion thereof.
(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.
COMPLETION AGREEMENT—Page 8
Executed by the Parties to be effective as of the date first stated above.
APPROVED AS TO FORM AND LEGALITY THE CITY OFF T W
By: B y:
Name: S-7Et.J ��26a _ Name:Wk,`
Title: Title:
MM PARTNERSHIP,LTD.
By:McGuyer Homebuilders,Inc.,General Partner
By:
George Haught,Wce President
RESIDENTIAL FUNDING CORPORATION
By:
Nam .Ma Smith
Title:
MHI Partnership,Ltd.,by McGuyer Homebuilders,Inc., General Partner,the Guarantor of the
Development Loan,is executing this Completion Agreement for the sole purpose of acknowledging that
advances that are made by the Lender pursuant to this Completion Agreement shall be deemed to be
advances that are made under the Loan which shall be subject to and covered by the Loan Documents and
the Guaranty Agreement that was executed by MIII Partnership,Ltd.,by McGuyer Homebuilders,Inc.,
General Partner.
MHI PARTNERSHIP,LTD.
By:McGuyer Ho uilders,Inc neral Partner
By:
e%rge Haught— ice Presi ent
LIST OF EXfIIBITS TO THE COMIPLETION AGREEMENT
BY AND AMONG THE CITY OF FORT WORTH
MIH PARTNERSHIP,LTD.AND
RESIDENTIAL FUNDING CORPORATION
EXIIIBIT A- LEGAL DESCRIPTION
EXHIBIT B - APPROVED BUDGET
EXHIBIT"B"-APPROVED BUDGET
WATER DISTRIBUTION SYSTEM $149,542
SANITARY SEWER $142,972
PAVING $286,108
STORM DRAINAGE $137,405
Total: $716,027
COMPLETION AGREEMENT
This Completion Agreement (hereinafter called the "Agreement") is made and entered
into by and among the City of Fort Worth (hereinafter called the "City"), Remington
Point LP, by Zena Development Corporation, (hereinafter called the "Developer"), and
Comerica bank (hereinafter called the "Lender"), effective as of August 1, 1998. The
City, the Developer and the Lender are hereinafter collectively called the."Parties".
WITNESSETH:
WHEREAS, the Developer owns that certain tract of real property that contains
approximately 28.93 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 Remington Point
Phase 1, Section A), and
WHEREAS, the Developer intends to develop Remington Point, Phase 1, Section A as an
addition to the City; and
WHEREAS, the Developer and the City have entered into a Community Facilities
Agreement relating to the development of Remington Point (Hereinafter called the
"CFA'); and
WHEREAS, the City has required certain assurances of the availability of funds to
complete the streets, street signs and lights, and the water and sewer utilities for the
development of Remington Point Phase 1, Section A (herein collectively called the
"Community Facilities"), and
WHEREAS, in order to provide such assurances as have been required by the City, the
Lender has agreed to advance certain funds to the city for Hard Costs (which term is
hereinafter defined) subject to, and in accordance with, the terms, provisions and
conditions of this Agreement; and
WHEREAS, the Developer has granted to the Lender as additional security for the Loan
(which term is hereinafter defined) a security interest in all plans and specifications for
the development of Remington Point Phase 1, Section A, (hereinafter collectively called
`the"Plans"); and
WHEREAS, the Parties desire to set forth the terms and conditions of such
accommodations as are described above
NOW THEREFORE, for and in consideration of the benefits to be derived from the
mutual observance by the parties of the terms and conditions hereof, and for and in
consideration of Ten Dollars ($10.00) and other good and valuable consideration, the
receipt, adequacy and sufficiency of which are hereby acknowledged, the Parties agree as
follows:
1. Recitals: The foregoing recitals are true, correct and complete and constitute the
basis for this Agreement and they are incorporated into this Agreement for all
purposes.
2. The Completion Agreement The City and the Developer agree that the Hard
Costs required to complete the community Facilities in the aggregate should not
exceed the sum. of One Million Three Hundred Thirty Seven Thousand Forty
Three Dollars ($1,337,043.00). (hereinafter called the "Completion Amount").
Notwithstanding the foregoing, it is acknowledged that the actual costs of
completion of the Community Facilities may vary as a result of change orders
agreed to by the Parties, but such variances for the purposes of this Agreement
shall not affect the Completion Amount as used herein.
3. Adjustments to the Completion Amount. The Lender will from time to time
make advances to the Developer for the development of Remington Point Phase
1, Section A under the development loan that has been made by the Lender to the
Developer for the purpose of financing the costs of constructing the Community
Facilities of Remington Point Phase 1, Section A hereinafter called the "Loan"
subject to, and in accordance with, the terms, conditions and provisions of the
Loan documents (which term is hereinafter defined) evidencing and securing the
Loan. Some of those advances shall be for Hard Costs as specified in the
"Approved Budget" relating to the Loan, a copy of which Approved Budget is
marked Exhibit B, attached hereto and incorporated herein for all purposes, with
the Hard Costs (which term is hereinafter defined) line items highlighted. The
term "Hard Costs" shall mean the actual costs of construction and installation of
the Community Facilities. To the extent that advances under the Loan are for the
2
payment of Hard Costs, the Completion Amount shall be deemed reduced, dollar
for dollar. The Lender may withhold statutory retainage from any advances under
the Loan or pursuant to this Agreement. All such retainage withheld,to the extent
it is attributable to Hard Costs, shall also reduce the Completion Amount dollar
for dollar. All retainage withheld by the Lender for Hard costs that are advanced
to the City pursuant to this Agreement shall be released to the City as provided in
the Texas Property Code upon expiration of the statutory retainage period. To
keep the City advised of the Hard Costs, the Developer shall promptly deliver to
the City those portions of all draw requests delivered to the Lender which contain
requests for the payment of Hard Costs and such draw requests shall itemize Hard
costs in such form and detail as shall be reasonably acceptable to the Lender and
the City. Upon approval of the Lender of any draw request containing requests for
Hard Costs to be advanced tc,.the Developer, the Lender shall give notice to the
City setting forth the amount of any hard costs to be advanced (the "Funding
Notice"). The City will be deemed to have approved the proposed advance of
Hard Costs by the Lender, unless it so notifies in writing Lender that it objects to
such advancements of Hard Costs by the Lender, the City will have its own
inspector examine and evaluate the construction; then the Lender and the City
shall cause their respective inspectors or consultants to cooperate and shall use
their best reasonable efforts to settle any dispute over the appropriateness of any
advance in Hard Costs. The Developer acknowledges that the Lender's obligation
to fund advances under the Loan within a specified time frame shall be deemed
waived by the Developer if the City and the Lender are in dispute with respect to
any requested advance. If any such dispute is not resolved promptly, the two
consultants shall agree within five (5) business days on a qualified third party to
resolve the dispute whose decision shall be final and binding on all parties and
shall be rendered within five (5)business days of such consultant's selection. Any
delay occasioned by any such dispute shall extend the Completion Date by such
period of time.
d. Completion by the Developer. The Developer agrees to complete the
Community Facilities on or before the date for completion that is established in
3
accordance with the CFA, the plans are approved by the Lender and the City and
all documents evidencing or securing the Loan (which documents are hereinafter
collectively called the "Loan Documents"). For the purpose of this agreement, the
development of Remington Point Phase 1, Section A shall be deemed complete
upon acceptance by the City of the Community Facilities. The City shall promptly
notify the Lender and the Developer upon such acceptance.
5. Completion by the City. In the event that either: (A) the development of
Remington Point Phase 1, Section A in not completed by the Completion Date for
any reason whatsoever, or (B) the Developer is in default under the Loan and the
Lender notifies the City that the Developer in default, at the Lender's sole option,
requests the City to complete development, whichever shall first occur, then, the
City may, at the cost and expense of the developer, commence, pursue and
complete the installation of the Community Facilities in a reasonable timely,
diligent and workmanlike manner in accordance with the plans, subject to the
terms of this agreement. The Lender and the Developer agree that the City may
use the plans as necessary to complete the Community Facilities. Prior to
commencement of any work by the Lender naming the Lender and Developer as
additional insureds.
6. Advance of Completion Costs to the City and Delivery of Hard Costs
Collateral to the City. Upon the occurrence of either event described in
paragraph 5 above, if the City elects within ten (10) business days of the
completion date or notice from the Lender, as the case may be, to complete the
construction of the Community Facilities, the Lender shall therefore advance to
the City any undistributed Hard Costs specified in the approved budget relating to
the Loan that are incurred by the City in completing the Community Facilities in
an aggregate sum not to exceed the completion amount, as adjusted, by funding
monthly draws to the City as described herein.
The developer hereby authorizes and instructs the Lender to make periodic
advances of any remaining undistributed Hard Costs specified in the approved
budget not to exceed the Completion Amount in increments paid to the City
within the same time period specified in the Loan Documents after receipt of
4
advance requests meeting the requirements of the Loan Documents of the City of
the Hard Costs remaining to be drawn under the Loan as specified in the
Approved Budget incurred by it and approved by the Lender, subject to retainage.
The advance requests from the City shall be made not more frequently than
monthly (save and except for final payment) and shall be accompanied by
reasonable acceptable evidence of the Hard Costs specified in the Approved
Budget that have been incurred by the City. The City shall use the funds advanced
for the payment of such Hard Costs as described in the advance request, and if the
City fails to do so, the Lenders obligation to fund additional advances shall
thereafter be terminated and of no continuing force and/or effect. The City shall
provide mechanics and materialmen's releases as may be reasonably requested by
the Lender. Upon request of the City, the Lender may pay such advances directly
to the suppliers and contractors described in the advance request.
If the City does not timely elect to complete the construction of the Community
Facilities, then the Lender may at its election terminate this agreement, and at its
option, proceed to complete the Community Facilities, foreclosure on any of its
collateral, or take any and all such action as may be provided under the Loan
Documents.
7. Completion by the Lender. The Lender may, at its discretion, but shall not be
obligated to, undertake to complete the Community Facilities if there is any
default under any Loan Documents in lieu of requesting the City to complete the
Community Facilities. In such event, however, the Lender must complete the
Community Facilities by the completion date or the City shall complete the same
as provided above. If the Lender elects to complete the Community Facilities, any
Hard Costs it expects shall, dollar for dollar, reduce the completion amount.
8. Easements. In the event that the City or the Lender undertakes the completion of
the Community Facilities, the Developer (and to the extent necessary the Lender)
grants to the City and the Lender open access to Remington Point Phase 1,
Section A for the purpose access and use for the completion of the construction of
the Community facilities in accordance with this agreement. To the extent
requested by the City and Lender, written temporary construction easements in
5
form acceptable to the City and Lender shall be executed by the Developer and
filled of record. Nothing in this paragraph shall reduce any rights of the Lender or
obligations of the developer under the Loan documents.
9. Lenders Rights.Nothing in this agreement shall effect any portion of the Lenders
collateral for the Loan or limit or impair the Lenders right to foreclose the same or
deal with the collateral as it elects in accordance with the Loan Documents.
10. Satisfaction of the City Requirements. The City agrees that the assurances and
covenants contained in this agreement satisfy all requirements of the City with
respect to payment and performance bonds or other requirements for security in
connection with the development Remington Point Phase 1, Section A and the
completion of the Community Facilities that are contained in the CFA or in any
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.
11. Termination. This Agreement shall terminate upon the earlier to occur of the
following: (A) acceptance by the City of the Community Facilities; (B)
mutual written agreement of all of the parties; or (C) the reduction of the
Completion Amount to Zero.
12. Final Plat. The parties acknowledge and agree that the City shall hold the Final
Plat of Remington Point Phase 1, Section A until the Community Facilities are
substantially complete and Hard Cost contractors have been paid, less retainage.
Upon receipt and acceptance by the City of evidence of substantial completion
and the payment by the Developer of all Hard Costs contractors, the City shall
immediately file the Final Plat of Remington Point Phase 1, Section A in the
Tarrant County Plat Records. The purpose of the City retaining the Final Plat of
Remington Point Phase 1, Section A as prescribed herein is to guarantee the
Developers obligations under the CFA.
13. Construction Contracts. The Developer agrees to include in all construction
contracts that it enters into for the completion of the Community Facilities the
following:
6
(A) A statement that the City is not holding any security to guaranty
payment for work performed on the Community Facilities;
(B) A statement that Remington Point Phase 1, Section A is private
property and that same may be subject to mechanic's and
materialmen's liens;
(C) A requirement that the contractor release the City from any claim
that is related to any work on Remington Point Phase 1, Section A
and;
(D) A requirement that the contractor include in its subcontracts the
statements contained in(A), (B) and(C) above.
14. Miscellaneous.
(A) Non-Assignment of Agreement. This agreement may not be
assigned by any of the parties without the prior written consent of
all 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 City shall be addressed and delivered as follows:
City of Fort Worth
1000 Throckmorton Street
Fort Worth,Texas 76102
Attention:Raquel Velasquez,
Administrative Assistant
Telecopy Number: 817-871-7905
Confirmation Number: 817-871-8092
With a copy thereof addresses and delivered as follows:
City of Fort Worth
1000 Throckmorton Street
Fort Worth,Texas 76102
Attention: Gary Steinberger,Esq.
Assistant City Attorney
Telecopy Number: 817-871-8359
Confirmation Number: 817-871-7600
7
II. Notice to Developer shall be addressed and delivered as follows:
Remington Point LP
By:Zena Development Corporation
102 West Worth Street
Grapevine,Texas 76051
P.O.Box 92864
Southlake,Texas 76092
Attention:C.Pat DiFonzo,President
Telecopy Number: 817-421-6910
Confirmation Number: 817-424-1392
III. Notice to Lender shall be addressed and delivered as follows:
Comerica Bank
1601 Ehn Street
Dallas,Texas 75201
P.O.Box 650282
Dallas,Texas 75265
Attention:Kevin Crayton
Telecopy Number:214-969-6682
Confirmation Number: 214-639--3VM
g4q-G 4't S
i
8
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 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; provided, however, that this Agreement shall not
supersede, amend or modify any of the Loan Documents or any
portion thereof.
(G) Amendment This Agreement may only be amended by a written
instrument executed by all of the Parties to this Agreement.
(1-1) 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.
9
Executed by the Parties to be effective as of the date first stated above.
APPROVED AS TO FORM AND LEGALITY THE CITY F R W RTH
By: �-C--' By:
Name: Gd-e- Name: R.6o�(Y►��2.
Title: �`�-�'�'r /T� QTT`t Title:"','.. _
Remington Point LP
By: Zena Development Corporation
General Partner
By: G
C.Pat DiFonzo/President
Comerica Bank
By:
Name: vi"
Title: ye Cc-Qr4l Jtw
10
Remington Point LP, by Zena Development Corporation, general partner, the Guarantor
of the Development Loan, is executing this Completion Agreement for the sole purpose
of acknowledging that advances that are made by the Lender pursuant to this Completion
Agreement shall be deemed to be advances that are made under the Loan which shall be
subject to and covered by the Loan Documents and the Guaranty Agreement that was
executed by Remington Point LP,by Zena Development Corporation, general partner.
Remington Point LP
By: Zena Development Corporation
General Partner
By:
C.Pat DiFonzo,President
�! 11
i
LIST OF EXHIBITS TO THE COMPLETION AGREEMENT
BY AND AMONG THE CITY OF FORT WORTH
REMINGTON POINT LP
AND COMERICA BANK
EXHIBIT A Legal Description
EXHIBIT B Approved Budget
12
LEGAL DESCRIPTION
PHASE 1,SECTION A
REMINGTON POINT, L.P.
by ZENA DEVELOWENT CORPORATION
BEING,A TRACT OF LAND SITUATED NN THE ALEXANDER F.ALBRIG'T SURVEY,
ABSTRACT NUMBER 1849,CITY OF FORT WORTH,TARRANT-COUNTY,TEXAS,AND
BEING A PORTION OF THOSE TRACTS OF.LAND'DESCRIBED FROM SAGINAW
HIGHLAND STATION,L.P.,TO REMINGTON POINT,LP. RECORDED IN VOLUME 12922,
PAGE 396: FROM JOHN C.COX TO REMINGTON POINT.L.P..RECORDED IN VOLUME
12922, PAGE 398;FROM FRED C.PEDERSON TO,REMINGTON POINT,L.P.,RECORDED
IN VOLUME 12922,PAGE 400;FROM CAROL GERSON,TO REMINGTON POINT,L.P.,
RECORDED IN VOLUME 12922,PAGE 402; FROM WILLIAM A.READ TO REMINGTON
POINT, L.P.,RECORDED IN VOLUME 12922,PAGE 404;AND FROM FT.WORTH 237
LONGHORN,L.P.TO REMINGTON POINT, L.P.,RECORDED IN VOLUME 12922,PAGE 405,
COUNTY DEED RECORDS.TARRANT COUNTY,TEXAS AND BEING MORE
PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS;
COMMENCING AT THE_INTERSECTION OF THE SOUTHERLY RIGHT-OF-WAY OF
LONGHORN DRIVE(A VARIABLE WIDTH RIGHT-OF-WAY)AND THE EASTERLY RIGHT-
OF-WAY OF OLD DECATUR ROAD(A VARIABLE WIDTH RIGHT-OF-4VAl0;
THENCE, S 89'47'35"E,2103.48 FEET,WITH SAID SOUTHERLY RIGHT-OF-WAY OF
LONGHORN DRIVE,TO THE POINT OF BEGINNING;
THENCE S 89°47'35E,289.47 FEET;
THENCE S 22°13'04'E, 1521.59 FEET;
THENCE S 68°12'31"W, 145.40 FEET;
THENCE S 67'16'28"W, 170.84 FEET;
THENCE N 22°43'31"4'7, 110,00 FEET;
THENCE S 67'16'29--W,30.00 FEET;
THENCE N 21°56'04"W,60.01 FEET;
THENCE N 67'16'29"E,50.00 FEET.
THENCE N 22'43'32'4V, 110.00 FEET;
THENCE S 67'16'29'W,350.27 FEET;
THENCE S 80'55'29-W,53.39 FEET;
THENCE N 79'2T33'W,671.97 FEET;
THENCE N 10'32'27"E, 110.00 FEET;
THENCE N 79'27'32'W, 50.05 FEET,THE BEGINNING OF A CURVE TO THE LEFT;
THENCE WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 14.36 FEET,THROUGH
A CFNTR-I ANG'c C= °_��, ,ut.,�;G _ R-r _'S C= ^�FEET.THE'CVG CHORD
W IC -7
OF HH BEARS N 80'25-37 , 14.35 FEET; -
THENCE N 08'36'20"E, 50.00 FEET TO THE BEGINNING OF A NON-TANGENT CURVE TO
THE RIGHT;
THENCE WITH SAID NON-TANGENT CURVE TO THE RIGHT,AN ARC DISTANCE OF 16.04
FEET,THROUGH A CENTRAL ANGLE OF 01'56'07",HAVING A RADIUS OF 475.00 FEET,
THE LONG CHORD OF WHICH BEARS S 80'25'37"E, 16.04 FEET:
l'
C&B Job No. 971051.0',4
59FVV47H June 22, 106
J:`JOB1971051141SUR\WP\LEG\TRACTIA1.LEG Page 1 of 2
ii
THENCE S 79*2734"E,9.80 FEET;
THENCE N 00*15'11"E,316.41 FEET;
THENCE S 89-44-49-E, 160.00 FEET;
THENCE S 00°15'11"W,9.78 FEET;
THENCE S 89*44'49"E, 110.00 FEET;
THENCE N 00°15'11"E, 365.09 FEET;
THENCE N 89*47'35"W,35.17 FEET;
THENCE N 00*12'25"E,50.00 FEET;
THENCE S 89'47'35-E,25.00 FEET;
THENCE N 00°12'25"E, 110.00 FEET;
THENCE S 89'47'35"E, 120.30 FEET;
THENCE N 00*15'11*E,38.01 FEET;
THENCE S 89-4449-E,50-00 FEET;
THENCE S 00*15'10-W,25.00 FEET:
THENCE S 89*44'49"E, 1 1,0.00 FEET;
THENCE N 00*15'11"E,50.00 FEET;
THENCE N 08*18'33-E, 132.44 FEET;
THENCE N 00*12'25"E,96.00 FEET TO THE POINT OF BEGfNNING AND CONTAINING
1,259,979 SQUARE FEET OR 28.925 ACRES OF LAND MORE OR LESS.
CAB Job No. 971051-014
S#FW47H June 22,1008
J:\JOB\97105114\SUR\WP\LEG\TRACTIAI.LEG Page 2 of 2
-
Rcm|NoTONPOwT
Tarrant County,Texas
DEVELOPMENT LOAN
SUMMARY BY CATEGORY
/
omnmxL nevmso pxsvmun THIS DRAW 'BALANCE
DESCRIPTION BUDGET BUDGET DRAWS AMOUNT REMAINING
SOFT COSTS:
LOAN ORIGINATION FEE $26.500.00 �6,500.00 $26,500.00 $0.00 $0.00
LEGAL&cLoo/wapsEo $40*00.00 $41,492.9 $41,492.9 $000 $uo
xppnmoAL&swvnowwewrxL m0,000,00 x6,600o0 *6,600.00 $0.00 $uoo
BANK LOAN INTEREST m15.000.00 $115.000.00 $0.00 $o.*m.oa $mo.suu.*s
'
PROPERTY TAXES s11.750z0 o11J23.* s11J23.4 $0.00 $nzm
m/ocsLLANeouo
Soft Costs Total x230,000.00 $230,000.00 $`,v.v',.uv $u.uvu.^" w"".,=""°
HARD COSTS:
SITE CLEARING&ExnmAT|ow $sx.u*u.00 $au.m*n.00 ~ o0.00 *7.236u0 o56.104.00
vwn'enmmwo-owe/Ts $302,860.00 $302,860.00 *o.on s0.00 $302,860.00
WATER MAINS'OFFSITE o450,000.00 $450,000.00 $0.00 $0.00 $450,000.00
SANITARY SEWER MAINS o168.850.00 $168.850.00 $0.00 $0.00 $168.e50.00
STORM DRAINAGE m85,020.00 o185,020.00 0u0 t0.00 $185,020z0
\
pwxwa $370,58 0.00 $370,58 0.00 $mow $mzm $37 0,580.00
EROSION CONTROL $6,000.00 *6.000.00 $nuo $0.00 *o.000.on |
cwm/wcsmwmauuspmwromunxe,/we n150.000.00 s170,000.00 $158.087.23 *e.ouo.oa o2.524.4*
SOIL TESTS o21.000.00 o21,000u0 $2,900.00 $11.656.00 $s.*won
FENCES uvmLuouxwoaoxpemmoxrmw $60,000.00 $60,000.00 $uun $0.00 $60,000.00
LOT BENCHING $27,750.00 $27,750.00 $0.00 $624.37 $27,125.63
CITY u CONSTRUCTION FEES $69,600.00 $69,600.00 $6,688.00 $0.00 se2.912.00
AMENITY CENTER $75,000o0 $75,000.00 $0.00 $ouo $75,000.00
cowr/woEwo/so
Hard Costs Total $2,000,000.00 $2,000,000.00 ^177,015.23 v^".""°.," ~..'"~"="'
TOTAL $2,230,000.00 $z.zuv/mv.vv $zo'.ovv.v^ $"".""""" p..=^.="...
TOTAL THIS DRAW REQUEST
CERTIFIED ovnsm/woTow POINT Lp APPROVED BY:
BY: zcwA DEVELOPMENT CORPORATION,
General Partner
Pat UiFonzo,-President
`
City of Fort Worth, Texas
4IDagolr Cana Council Communication
DATE REFERENCE NUMBER LOG NAME PAGE
5/11/99 C®174,27 1 20ZENA 1 1 of 2
SUBJECT COMMUNITY FACILITIES AGREEMENT WITH REMINGTON POINT, LP, BY Z; qA
DEVELOPMENT CORPORATION AND MHI PARTNERSHIP, LTD., BY MCGUN, R
HOME BUILDERS, INC. FOR THE INSTALLATION OF COMMUNITY FACILITIES TO
REMINGTON POINT PHASE 1, SECTIONS A AND B
RECOMMENDATION:
It is recommended that the City Council rescind M&C C-17340, approved March 23, 1999,for the Community
Facilities Agreement with McGuyer Home Builders, Inc. for the installation of community facilities to serve
Remington Point Phase 1,Sections A and B and approve the revised Community Facilities Agreement as follows:
DISCUSSION:
The previously approved M&C failed to include the section for water and sewer improvements. In
addition, the name of the developer should more accurately be described as Remington Point, LP, by
Zena Development Corporation and MHI Partnership, Ltd., by McGuyer Home Builders, Inc.
ESTIMATED COSTS:
Project Cost, Developer 9 Ut Total
1. Water $ 643,408 $163,482 $ 806,890
478 (Park) 478
Sewer 376,241 -0-
376,241
557 (Park) 557
Construction Inspection Fee 20,393* 3,290 23,683
11. Street Improvements
Construction 752,915 39,501 (Park) 792,416
Design Engineering -0- 2,370 (Park) 2,370
Engineering and Administration 15,058* 30,117 45,175
2,370 (Park) 2,370
Storm Drain Improvements
Construction 361,592 -0- 361,592
Design Engineering -0- -0- -0-
Engineering and Administration 7,232* 18,079 25,311
Ill. Street Lights 70,400 -0- 70,400
Engineering and Administration 7,040 -0- 7,040
IV. Street Namd Signs 1,440 -0-' 1,440
Subtotal $2,255,719 $260,244 $2,515,963
Future Improvements 67,798 49,728 117,526
TOTAL $2,323,517 $309,972 $2,633,489
2% Construction Inspection
City of Fort Worth, Texas
"agor and councit Communication
DATE REFERENCE NUMBER LOG NAME PAGE
5/11/99 C-1 7427 1 20ZENA 1 2 of 2
SLY '`'Ec-r COMMUNITY FACILITIES AGREEMENT WITH REMINGTON POINT, LP, BY ZENA
DEVELOPMENT CORPORATION AND MH1 PARTNERSHIP, LTD., BY MCGUYER
HOME BUILDERS, INC. FOR THE INSTALLATION OF COMMUNITY FACILITIES TO
REMINGTON POINT PHASE 1, SECTIONS A AND B
Costs do not include developer's design engineering cost on interior streets and storm drains.
Under the terms of this agreement, the developer's share of future improvements will be submitted prior
to execution of this agreement. Contributions from future developers will be collected as agreements
for these-properties are executed. The City will provide funds for its' share of any future improvements
at the time a contract is awarded for the construction of these improvements.
PLAN commlssidNAPPRO VAL:
On September 23, 1997, the Plan Commigion approved application for Preliminary Plat (PP 97024).
Final Plat (FP 98018) has been submitted to Gity staff for review.
FISCAL INFORMATION/CERTIFICATION: -
The Finance Direct N certifies that funds are available in the current capital budgets, as appropriated, of
the New Development.,Fund and the Commercial Paper-Water and Sewer Funds.
MGJ
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to) APPRDYED'
Mike Groomer 6140 COUNCL
Originating Department Head: MAY
Hugo Malanga 7801 (from)
C115 1 511010 020115095215 $ 48,196.00
Additional Information Contact: GC05 541200 080050500270 $ 45,276.00
City seaetafl Of
PS46 539140 070460133480 $163,482.00 01F0ftW,5K-dJ&q9.
Hugo Malanga 7801