HomeMy WebLinkAboutContract 58376-A2Date Received: 8/9/2024 City Secretary
Time Received: 3' 19 p.m. Contract No.: 58376-A2
SECOND AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 58376
A COMMUNITY FACILITIES AGREEMENT AND COMPLETION AGREEMENT
BETWEEN THE CITY OF FORT WORTH, HT HWY 114 DEVELOPMENT LP AND
SIMMONS BANK
This SECOND AMENDMENT TO CITY SECRETARY CONTRACT NUMBER
58376 ("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, HT Hwy 114
Development LP ("Developer"), a Texas limited partnership, and Simmons Bank ("Lender").
WHEREAS, the City and Developer entered into a Community Facilities Agreement
for the construction of public infrastructure improvements for a Project known as Tradition
Phase 4B, City Project Number 103865 ("CFA"); and
WHEREAS, City, Developer, and Lender executed a Completion Agreement as the
financial guarantee for the Improvements in the CFA ("Completion Agreement"); and
WHEREAS, the CFA and the Completion Agreement are filed with the City Secretary
as City Secretary Contract Number 58376; and
WHEREAS, the CFA and the Completion Agreement were amended to revise the cost
estimates, the cost summary table, and the completion amount, City Secretary Contract Number
58376-Al;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, Developer, and Lender acting herein by and through their
duly authorized representatives, enter into the following agreement, which amends City
Secretary Contract Number 58376:
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
$1,600,641.75 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 OFFICIAL RECORD
Second Amendment to City Secretary Contract No. 58376 CITY SECRETARY
Page 1 of 4 FT. WORTH, TX
2.
The Completion Agreement is terminated.
3.
a. All other provisions of City Secretary Contract No. 58376 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. 58376.
[SIGNATURES ON FOLLOWING PAGE]
City of Fort Worth, Texas
Second Amendment to City Secretary Contract No. 58376
Page 2 of 4
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
TaA� �3GL
Dana Burghdoff (Aug 2024 16&CDT)
Dana Burghdoff
Assistant City Manager
Date: Aug 8, 2024
Recommended by:
Bichson Nguyen
Contract Compliance Specialist
Development Services
Approved as to Form & Legality:
4r-2-,
Richard McCracken (Aug 8, 202417:03 CDT)
Richard McCracken
Sr. Assistant City Attorney
M&C No. N/A
Form 1295: N/A
Date: Aug 8, 2024
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Jannette S. Goodall
City Secretary
City of Fort Worth, Texas
Second Amendment to City Secretary Contract No. 58376
Page 3 of 4
DEVELOPER
[signatures on the following page]
LENDER
Simmons Bank
D r (Aug 7, 202411:14 CDT)
David Hassell
Market Executive
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.
Dwgvhe IfollArs for
Dwayne Ho tars for: (Aug 7, 202411:17 CDT)
Name: Rebecca Owen
Title: Development Management
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
DEVELOPER
HT HWY 114 DEVELOPMENT LP, a
Texas limited partnership
By: HT Hwy 114 Development LLC, a
Delaware limited liability company, its
general partner
By: HT Hwy 114 LP, a Delaware limited
Partnership, its sole member
By: Hines Hwy 114 LLC,
a Delaware limited liability company, its general partner
By: Hines Hwy 114 Associates LP,
a Texas limited partnership, its sole member
By: Hines Investment Management Holdings Limited Partnership,
a Texas limited partnership, its general partner
RobertW Witte (Jul 24, 202410:34 CDT)
Robert W. Witte
Senior Managing Director
Date: J u l 2412024
twf*� na"A::z
Acknowledged by: Dustin Davidson (Jul 24, 202409:01 CDT)
Dustin Davidson
Managing Director
City of Fort Worth, Texas
Second Amendment to City Secretary Contract No. 58376
Page 4 of 4