HomeMy WebLinkAboutContract 60372-A1City of Fort Worth, Texas
First Amendment to City Secretary Contract No. 60372
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Date Received: _______________ City Secretary
Time Received: ______________ Contract No.: ____________
FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 60372
A COMMUNITY FACILITIES AGREEMENT BETWEEN
THE CITY OF FORT WORTH AND HTQ SAM REYNOLDS OWNER LP
This FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 60372
(“First Amendment”) is made and entered into by and between the City of Fort Worth (“City”),
a home-rule municipal corporation of the state of Texas, and HTQ Sam Reynolds Owner LP
(“Developer”), a Delaware limited partnership.
WHEREAS, the City and Developer entered into a Community Facilities Agreement for
the construction of public infrastructure Improvements for a Project known as Tradition,
Central Phase 3C, City Project Number 103518 (“CFA”); and
WHEREAS, City and Developer executed a self-funded Completion Agreement as the
financial guarantee for the Project (“Completion Agreement”); and
WHEREAS, the CFA and the Completion Agreement are filed with the City Secretary
as City Secretary Contract Number 60372; and
WHEREAS, City and Developer have determined that the cost estimates and cost
summary table in the CFA and Completion Agreement are incorrect; and
WHEREAS, the City and Developer desire to amend the CFA and Completion Agreement
to correct the amounts to match the accurate estimates in the construction manual; and
NOW THEREFORE, City and Developer, acting herein by and through their duly
authorized representatives, enter into the following agreement which amends City Secretary
Contract No. 60372:
1.
Section 36 of the CFA is amended in its entirety to be and read as set forth in Exhibit A
of this First Amendment, which is attached hereto and incorporated herein by reference.
2.
The Cost Estimates in the CFA are amended in their entirety to be read as set forth in
Exhibit B of this First Amendment, which is attached hereto and incorporated herein by reference.
3.
Section 2 of the Completion Agreement is deleted in its entirety and replaced with the
following:
2. The Completion Amount. The City and the Developer agree that the Hard Costs
(as shown on Exhibit “B”) required to complete the Community Facilities in the
aggregate should not exceed the sum of Two million, three hundred eighty-three
thousand, twenty-seven dollars and eighty-eight cents ($2,383,027.88), hereinafter
called the “Completion Amount”. Nothwithstanding 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 sch variances for the
purposes of this Agreement shall not affect the Completion Amount as used herein.
City hereby waives the requirement for Developer to deposit a financial guarantee
of 100% of the Hard Costs under the CFA Policy.
4.
The “Approved Budget” attached as Exhibit B of the Completion Agreement is amended
in its entirety to be read as set forth in Exhibit C of this First Amendment, which is attached hereto
and incorporated herein by reference.
5.
a. All other provisions of City Secretary Contract No. 60372 which are not expressly
amended herein, shall remain in full force and effect.
b. All terms in this First Amendment that are capitalized, but not defined, shall have the
meanings ascribed to those terms in City Secretary Contract No. 60372.
[SIGNATURES ON FOLLOWING PAGE]
City of Fort Worth, Texas
First Amendment to City Secretary Contract No. 60372
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City of Fort Worth, Texas
First Amendment to City Secretary Contract No. 60372
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IN TESTIMONY WHEREOF, the City and Developer have executed this First
Amendment to be effective on the date signed by the City’s Assistant City Manager.
CITY OF FORT WORTH
Dana Burghdoff
Assistant City Manager
Date: __________________
Recommended by:
Dwayne Hollars
Contract Compliance Specialist
Development Services
Approved as to Form & Legality:
Thomas Royce Hansen
Assistant City Attorney
M&C No. N/A
Date:
Form 1295: N/A
ATTEST:
Jannette S. Goodall
City Secretary
Contract Compliance Manager:
By signing, I acknowledge that I am the person
responsible for the monitoring and
administration of this contract, including
ensuring all performance and reporting
requirements.
Rebecca Owen
Development Manager
City of Fort Worth, Texas
First Amendment to City Secretary Contract No. 60372
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DEVELOPER
HTQ Sam Reynolds Owner LP,
a Texas limited partnership
By: HTQ Sam Reynolds GP LLC,
a Delaware limited liability company,
its general partner
By: HTQ Sam Reynolds LP,
a Delaware limited partnership,
its sole member
By: Hines Wildflower Ranch Associates LP,
a Delaware limited partnership,
its general partner
By: Hines Wildflower Ranch GP LLC,
a Delaware limited liability company,
its general partner
By: Hines Investment Management
Holdings Limited Partnership,
a Texas limited partnership,
its sole member
By:
Robert W. Witte
Senior Managing Director
Date:
ATTEST:
_____________________________
Dustin Davidson
Managing Director
City of Fort Worth, Texas
First Amendment to City Secretary Contract No. 60372
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EXHIBIT A
36.
Cost Summary Sheet
Project Name: Tradition, Central Phase 3C
CFA No.: 22-0110 City Project No.: 103518
Items Developer's Cost
A. Water and Sewer Construction
1. Water Construction 382,283.60$
2. Sewer Construction 448,721.60$
Water and Sewer Construction Total 831,005.20$
B. TPW Construction
1. Street 992,416.50$
2. Storm Drain 461,599.70$
3. Street Lights Installed by Developer 98,006.48$
4. Signals -$
TPW Construction Cost Total 1,552,022.68$
Total Construction Cost (excluding the fees): 2,383,027.88$
Estimated Construction Fees:
C. Construction Inspection Service Fee $47,000.00
D. Administrative Material Testing Service Fee $8,575.00
E. Water Testing Lab Fee $540.00
Total Estimated Construction Fees: 56,115.00$
Financial Guarantee Options, choose one Amount
Choice
(Mark one)
Bond = 100% 2,383,027.88$
Completion Agreement = 100% / Holds Plat 2,383,027.88$ X
Cash Escrow Water/Sanitary Sewer= 125% 1,038,756.50$
Cash Escrow Paving/Storm Drain = 125% 1,940,028.35$
Letter of Credit = 125% 2,978,784.85$
City of Fort Worth, Texas
First Amendment to City Secretary Contract No. 60372
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EXHIBIT B
Cost Estimates
City of Fort Worth, Texas
First Amendment to City Secretary Contract No. 60372
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City of Fort Worth, Texas
First Amendment to City Secretary Contract No. 60372
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City of Fort Worth, Texas
First Amendment to City Secretary Contract No. 60372
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City of Fort Worth, Texas
First Amendment to City Secretary Contract No. 60372
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City of Fort Worth, Texas
First Amendment to City Secretary Contract No. 60372
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EXHIBIT C
APPROVED BUDGET
Section I
Water $382,283.60
Sewer $448,721.60
Sub-total $831,005.20
Section II
Interior Streets $992,416.50
Storm Drains $461,599.70
Sub-total $1,454,016.20
Section III
Street Lights $98,006.48
Sub-total $98,006.48
TOTAL $2,383,027.88