HomeMy WebLinkAboutContract 58971-A1City of Fort Worth, Texas
First Amendment to City Secretary Contract No. 58791
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Date Received: _______________City Secretary
Time Received: ______________Contract No.: ____________
FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 58791
A COMMUNITY FACILITIES AGREEMENT BETWEEN
THE CITY OF FORT WORTH AND PMB VENTANA DEVELOPER SOUTH, LLC
This FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER
58791 (“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 PMB Ventana
Developer South, LLC (“Developer”), a Texas limited partnership.
WHEREAS, the City and Developer entered into a Community Facilities Agreement
for the construction of public infrastructure improvements for a Project known as “Ventana
Phase 6B” under City Project Number 103677 (“CFA”); and
WHEREAS, City and Developer executed a Completion Agreement as the financial
guarantee for the CFA (“Completion Agreement”); and
WHEREAS, the CFA and the Completion Agreement are filed with the City Secretary
as City Secretary Contract (“CSC”) Number 58791; and
WHEREAS, Developer desires to replace the Completion Agreement with a cash
deposit as the financial guarantee for remaining Improvements to be constructed pursuant to
the CFA;
NOW THEREFORE, City and Developer, acting herein by and through their duly
authorized representatives, enter into the following agreement, which amends City Secretary
No. 58791 as follows:
1.
Section 5 of the CFA is amended to add the following paragraph:
Developer has delivered to the City a cash deposit in the amount of $69,348.75 for the
remaining paving, storm drain and street light Improvements that have not yet been
completed, guaranteeing Developer's obligation to complete construction of the
remaining Improvements and pay all contractors and material suppliers. City and
Developer agree that the Developer may replace the Completion Agreement with cash
deposit as the financial guarantee for the remaining Improvements.
2.
City of Fort Worth, Texas
First Amendment to City Secretary Contract No. 58791
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The Completion Agreement is terminated.
3.
a.All other provisions of City Secretary Contract No. 58791 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. 58791.
[SIGNATURES ON FOLLOWING PAGE]
City of Fort Worth, Texas
First Amendment to City Secretary Contract No. 58791
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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:
Richard A. McCracken
Sr. Assistant City Attorney
M&C No. N/A______________
Form 1295: N/A_____________
ATTEST:
Jannette S. Goodall
City Secretary
DEVELOPER
PMB Ventana Developer South, LLC
K. Taylor Baird
Manager
Date:
Contract Compliance Manager:
By signing, I acknowledge that I am the
person responsible for the monitoring and
administration of this contract, including all
performance and reporting requirements.
Name: Rebecca Owen
Title: Development Manager