HomeMy WebLinkAboutContract 60375-A1Date Received: Aug 15, 2024
Time Received: 3:16 p.m.
City Secretary
Contract No.: 60375-A1
FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 60375
A COMMUNITY FACILITIES AGREEMENT AND COMPLETION AGREEMENT
BETWEEN THE CITY OF FORT WORTH AND HT HWY 114 DEVELOPMENT, LP
This FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 60375
("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 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 Phase 4A,
City Project Number 104083; 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 60375; 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 City Secretary
No. 60375:
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
$3,774,948.52 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.
2.
The Completion Agreement is terminated.
3.
City of Fort Worth, Texas
Amendment to City Secretary Contract No. 60375
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
a. All other provisions of City Secretary Contract No. 60375 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. 60375.
[SIGNATURES ON FOLLOWING PAGE]
City of Fort Worth, Texas
Amendment to City Secretary Contract No. 60375
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
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Dana Burghdoff (Aug 8, 02417:20 CDT)
Dana Burghdoff
Assistant City Manager
Date: Aug 8, 2024
Recommended by:
Dwayne Hollars
Contract Compliance Specialist
Development Services
Approved as to Form & Legality:
Richard McCracken (Aug 8, 202417:04 CDT)
Richard A. McCracken
Sr. Assistant City Attorney
M&C No. N/A
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Jannette S. Goodall
City Secretary
City of Fort Worth, Texas
Amendment to City Secretary Contract No. 60375
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.
Bichson Nguyen (for) rKug b!2024 09:46 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
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Robert W. Witte (Aug 8, 2024 09:36 CDT)
Robert W. Witte
Senior Managing Director
Date: Aug 8, 2024
ATTEST:
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Dustin Davidson (Aug 8, 2024 08:49 CDT)
Dustin Davidson
Managing Director
City of Fort Worth, Texas
Amendment to City Secretary Contract No. 60375