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Home My WebLink About056944-CA1 - Construction-Related - Contract - Hakuna Matata Investments, Inc. and LMP Deer Creek Owner LLCDocusign Envelope ID: B1 FE2853-96C4-854D-8351-DBD67AE43415 City Secretary Contract No. 56944-CAl CONSENT TO ASSIGNMENT OF DEVELOPMENT AGREEMENT (City Secretary Contract No. 56944) This CONSENT TO ASSIGNMENT OF DEVELOPMENT AGREEMENT ("Consent") is made by and among Hakuna Matata Investments, LLC, a Texas limited liability company ("HMI"), the City of Fort Worth Texas, a home -rule municipality organized under the laws of the State of Texas ("City"), and LMP Deer Creek Owner LLC, a Texas limited liability company ( "Assignee"). HMI, City, and Assignee are hereinafter sometimes referred to individually as a "Party" and collectively as the "Parties." WHEREAS, the City and HMI entered into that certain Development Agreement (the "DA") dated effective as of November 24, 2021, City Secretary Number 56944; WHEREAS, HMI desires to assign all of its rights and obligations under the DA to Assignee; WHEREAS, HMI and Assignee intend to enter into a separate agreement pursuant to which HMI has agreed to assign to Assignee and Assignee has agreed to assume from HMI the rights and obligations of HMI under the DA; and WHEREAS, pursuant to Section 9.1 of the DA, HMI has the right to assign the DA, in whole or in part, and including any obligation, right, title, or interest of HMI under the DA to any person or entity who executes an assignment agreement with HMI; agrees to be bound by the terms and conditions of the DA; and assumes all obligations and duties of HMI under the DA with the City's prior written consent (which consent shall not be unreasonably withheld if the Assignee demonstrates financial ability to perform to the City Manager's reasonable satisfaction). Accordingly, HMI, Assignee, and City desire to enter into this Consent to confirm satisfaction of the conditions precedent to the City's consent to the assignment of the DA from HMI to Assignee. NO THEREFORE for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 1. The Parties agree that the recitals, which are incorporated herein by reference, set forth above are true and correct and form the basis upon which they are entering into this Consent. 2. The City finds that Assignee is financially capable of meeting the terms and conditions of the DA and the City hereby consents to the assignment by HMI to Assignee of all right, title and interest granted to HMI by the DA, subject to the terms and conditions of this Consent, effective on July 29, 2022, the date on which the Assignee acquired ownership of the property referred to in the DA from HMI ("Effective Date"). 3. The City consents to such assignment expressly upon the promise and covenant by Assignee, and Assignee hereby promises and covenants to the City, that Assignee, regardless of whether, at the time of execution hereof by Assignee, there have been, or will later be, other agreements executed between Assignee and HMI related to this assignment, will comply with and assume all duties and obligations of HMI set forth in the DA arising on and after the Effective Date. HMI shall comply with and be liable for performance of all duties and obligations of HMI arising prior to the Effective Date. OFFICIAL RECORD CITY SECRETARY City Consent to Assignment of DevelopmentAreement FT. WORTH, TX Docusign Envelope ID: B1 FE2853-96C4-854D-8351-DBD67AE43415 4. By executing this Consent, the City does not ratify or endorse any agreement or representation between HMI and Assignee; grant Assignee any right greater than those granted to HMI under the DA. 5. The DA is in full force and effect and has not been modified, supplemented, or amended unless specifically set forth herein. 6. As of the date of execution of this Consent by the City, to the knowledge of the City, there exists no factual circumstance or condition which, with notice or the lapse of time, or both, would give rise to any obligation of any party to the DA which, if not satisfied, will constitute and event of default on the part of either the City or HMI. 7. The Parties agrees that each Parry to this assignment shall be entitled to rely upon the statements of the other Parties set forth in this Consent. 8. This Consent may be executed in multiple counterparts, each of which shall be considered an original, but all of which shall be constitute one instrument. 9. This Agreement may be executed by electronic signature, which will be considered as an original signature for all purposes and have the same force and effect as an original signature. For these purposes, "electronic signature" means electronically scanned and transmitted versions (e.g. via pdf file or facsimile transmission) of an original signature, or signatures electronically inserted via software such as Adobe Sign or DocuSign. 10. Any notice given by any Party to another Party must be in writing and shall be effective upon receipt when (i) sent by U.S. mail with property postage, certified mail return receipt requested or by a nationally recognized overnight delivery service, and (ii) addressed to the other Party at the address set out below or at such other address as the receiving Party designates by proper notice to the sending Party. Ci1y Jesica McEachern, Assistant City Manager 100 Fort Worth Trail Fort Worth TX 76102 With a copy to: City of Fort Worth 100 Fort Worth Trail Fort Worth TX 76102 Attention: City Attorney Justin McWilliams Hakuna Matata Investments, LLC 7801 Brandi Place, Suite N North Richland Hills, Texas 76182 Assignee IMP Deer Creek Owner LLC Pa Docusign Envelope ID: B1FE2853-96C4-854D-8351-DBD67AE43415 M 5000 W. 9511 Street, Suite 250 Prairie Village, KS 66207 Attention: P.J Ventola 12. Capitalized terms not otherwise defined herein shall have the meaning set forth in the (Signatures appear on the following pages) Docusign Envelope ID: B1FE2853-96C4-854D-8351-DBD67AE43415 EXECUTED as of the Effective Date. August 27, 2026 HMI: HAKUNA MATATA INVESTMENTS, LLC, a Texas limited liability company, By: UDocuSigne by: L:L' 0D6E455C3F421... Printed Name: Justin McWilliams Title: Manager HMI — Signature Page Docusign Envelope ID: B1FE2853-96C4-854D-8351-DBD67AE43415 ASSIGNEE: LMP DEER CREEK OWNER LLC, a Texas limited liability company Signed by: By: ��G� J. UU46(A AD4E84A25F5C4E2... Printed Name: PJ Ventola Title: Authorized Signer Assignee Signature Page Docusign Envelope ID: B1 FE2853-96C4-854D-8351-DBD67AE43415 CITY OF FORT WORTH: Contract Compliance Manager: By signing I acknowledge that I am the person responsible for the monitoring and administration By: � of this contract, including ensuring all performance and reporting requirements. _ Jesica McEachern Assistant City Manager Date: 08/27/2026 By: Steph�aAuq 20, 2026 10:29:46 CDT) Stephen Murray APPROVAL RECOMMENDED: Platting Manager, Development Services Department By: 51-. 701eox14'a- Jennifer Mollenshott Deputy Director, Development Services Department ATTEST: a44 Fon°r°,°�ca� F eeu �Dd QdCynaEz a`'4` By: Kat6 u a �oxeco�2 Jannette Goodall City Secretary City of Fort Worth - Signature Page /._ . , 0]`11Z:F.`1rlisle I0)M&KXI71f1[9Y.I14#did By: z�- ' -- Richard McCracken Senior Assistant City Attorney CONTRACT AUTHORIZATION: M&C: N/A Form 1295: N/A OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX FORT WORTH. i City Secretary's Office Contract Routing & Transmittal Slip Contractor's Name: Hakuna Matata Investments, LLC (HMI) and LMP Deer Creek Owner LLC, Subject of the Agreement: CONSENT TO ASSIGNMENT OF DEVELOPMENT AGREEMENT (City Secretary Contract No. 56944) M&C Approved by the Council? * Yes ❑ No M If so, the M&C must be attached to the contract. Is this an Amendment to an Existing contract? Yes 0 No ❑ (City Secretary Contract No. 56944) If so, provide the original contract number and the amendment number. Is the Contract "Permanent"? *Yes 0 No ❑ If unsure, see backpage for permanent contract listing. Is this entire contract Confidential? *Yes ❑ No 0 If only specific information is Confidential, please list what information is Confidential and the page it is located. Effective Date: If different from the approval date. Expiration Date: If applicable. Is a 1295 Form required? * Yes ❑ No 21 *If so, please ensure it is attached to the approving M&C or attached to the contract. Project Number: If applicable. *Did you include a Text field on the contract to add the City Secretary Contract (CSC) number? Yes 0 No ❑ Contracts need to be routed for CSO processing in the followingorder: rder: 1. Katherine Cenicola (Approver) 2. Jannette S. Goodall (Signer) 3. Allison Tidwell (Form Filler) *Indicates the information is required and if the information is not provided, the contract will be returned to the department. 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