HomeMy WebLinkAboutC2020-384 - 10/27/2020 - Approved SECOND AMENDMENT OF PARTICIPATION AGREEMENT
This is an amendment to the Participation Agreement, Document number 2017048025, originally dated
November 7, 2017, by and between: MPM Development, L.P. and the City of Corpus Christi.
NOW, THEREFORE, in consideration of the mutual covenants herein, the Parties agree to amend
Participation Agreement, Sections (K)(3) & (Q) as follows:
K. DEFAULT. The following events shall constitute default:
3. Owner fails to complete construction of the Roadway Extension, under the approved
plans and specifications, on or before November 7, 2021.
Q This Agreement becomes effective, is binding upon, and inures to the benefits of the
City and the owner from and after the date of the last signatory to this
Agreement. This Agreement expires on November 7, 2021, unless terminated earlier
in accordance with the provisions of the Agreement.
All other terms and conditions of the original agreement remain effective and in full force.
EXECUTED IN ONE ORIGINAL and made effective this day ofar9e , 2020.
CITY(TIF CORPUS CHRISTI MPM DEVELOPMENT, L.P.
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Gal� yy a and Ili AIA CBO ostaghasi
.
Direct.r of Development Services eneral Partner
APPROVED AS TO FORM:
ATTEST: - I '
`fl Z z L' L • I,REBECCA HUERTA
Buck Brice (date) CITY SECRETARY
Assistant City Attorney C1 5,rC32).5(2...Atli Unt�.►�
for the City Attorney "'�
�t111CIL ;aC)
STATE OF TEXAS
14
SECRETARY Y . (
COUNTY OF IAIUR,C.r §
This instrument was acknowledged before me on to day of S ,I"'""kial2A-- , 2020, by
Mossa Moses Mostaghasi enerartner, on behalf of MPM Development, L.P.
�.....f;;s., CYNTHIA cUENO
VA : Is# 1178588-3
. cr votary Public Vbik Llt°
`Nr 4?/ STATE OF TEXAS
DF n:0/ My Comm. Exp. 11-04-2023 Notary Public's Signature
1
SCANNED
Nueces County
Kara Sands
Nueces County Clerk
•
•
`VG-50-2020-2020050076*
Instrument Number: 2020050076
Official Public Records
AGREEMENT
Recorded On: November 03, 2020 10:26 AM Number of Pages: 2
" Examined and Charged as Follows: "
Total Recording: $21.00
%%%%�%%%%% STATE OF TEXAS
%GD�NtY Cp4�1N1 Nueces County
, *too I hereby certify that this Instrument was filed in the File Number sequence on the date/time
��� „,i printed hereon, and was duly recorded in the Official Records of Nueces County,Texas
/VI ��
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h eoP NUE���= Kara Sands
Nueces County Clerk
Nueces County, TX
*********** THIS PAGE IS PART OF THE INSTRUMENT***********
Any provision herein which restricts the Sale, Rental or use of the described REAL PROPERTY
because of color or race is invalid and unenforceable under federal law.
File Information: Record and Return To:
Document Number: 2020050076 DEVELOPMENT SERVICES CITY OF CC
Receipt Number: 20201103000057 2406 LEOPARD STREET
Recorded Date/Time: November 03, 2020 10:26 AM
User: Regina C CORPUS CHRISTI TX 78408
Station: CLERK03