HomeMy WebLinkAboutContract 57873-A2Date Received: May 23, 2024
Time Received: 11:25 a.m.
City Secretary
Contract No.: 57873-A2
SECOND AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 57873
A COMMUNITY FACILITIES AGREEMENT AND COMPLETION AGREEMENT
BETWEEN THE CITY OF FORT WORTH AND HT HWY 114 DEVELOPMENT, LP
This SECOND AMENDMENT TO CITY SECRETARY CONTRACT NUMBER
57873 ("Second 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 HT Hwy 114 Development,
LP ("Developer"), a Texas limited partnership.
WHEREAS, the City and Developer entered into a Community Facilities Agreement for
the construction of public infrastructure improvements for a Project known as Tradition Central
Phase 2C, City Project Number 103188 ("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 Number 57873; and
WHEREAS, the City and Developer previously amended the CFA and the Completion
Agreement to reflect that Developer hired a new contractor to construct a portion of the
Improvements at an increased cost to the Developer, City Secretary Contract Number 57873-A1;
and
WHEREAS, Developer desires to replace the Completion Agreement with a Development
Bond as the financial guarantee for the remaining Improvements to be constructed pursuant to the
CFA;
NOW THEREFORE, City and Developer, acting herein by and through their duly
authorized representatives, enter into the following agreement, which amends the CFA:
1.
Section 5 of the CFA is amended to add the following paragraph:
Developer has delivered to the City a development bond in the amount of $395,315.40
guaranteeing Developer's obligation to complete construction of the remaining Improvements
and pay all contractors and material suppliers. City and Developer agree that the Developer
may replace the Completion Agreement with the development bond as the financial guarantee
for the remaining Improvements.
City of Fort Worth, Texas
Second Amendment to City Secretary Contract No. 57873
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
2.
The Completion Agreement is terminated.
3.
a. All other provisions of City Secretary Contract No. 57873 which are not expressly
amended herein, shall remain in full force and effect.
b. All terms in this Second Amendment that are capitalized, but not defined, shall have the
meanings ascribed to those terms in City Secretary Contract No. 57873.
[SIGNATURES ON FOLLOWING PAGE]
City of Fort Worth, Texas
Second Amendment to City Secretary Contract No. 57873
IN TESTIMONY WHEREOF, the City and Developer have executed this Second
Amendment to be effective on the date signed by the City's Assistant City Manager.
CITY OF FORT WORTH
Sin
Dana Burghdoff (Maye 2, 2024 2 CDT)
Dana Burghdoff
Assistant City Manager
Date: May 22, 2024
Recommended by:
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Dwayne Hollars (May 22, 202410:09 CDT)
Dwayne Hollars
Contract Compliance Specialist
Development Services
Approved as to Form & Legality:
Richard McCracken (May 22, 2024 10:36 CDT)
Richard A. McCracken
Sr. Assistant City Attorney
M&C No. N/A
Form 1295: N/A
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Jannette S. Goodall
City Secretary
City of Fort Worth, Texas
Second Amendment to City Secretary Contract No. 57873
DEVELOPER
[Signature on following page]
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.
-S,I^
Rebecca Owen (May 22, 2024 10:15 CDT)
Name: Rebecca Diane Owen
Title: Development Manager
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
DEVELOPER
HT HWY 114 DEVELOPMENT LP
By: HT Hwy 114 Development LLC, its general partner
By: HT Hwy 114 LP, its sole member
By: Hines Hwy 114 LLC, its general partner
By: Hines Hwy 114 Associates LP, its sole member
By: Hines Investment Management Holdings Limited Partnership, its
general partner
Robert w. wifl-e
Robert W. Witte (May 22, 2024 07:51 PDT)
Robert W. Witte
Senior Managing Director
Date: May 22, 2024
ATTEST:
Dustin Davidson (May 22, 202408:14 CDT)
Dustin Davidson
Managing Director
City of Fort Worth, Texas
Second Amendment to City Secretary Contract No. 57873