HomeMy WebLinkAboutC2020-455 - 11/17/2020 - Approved AMENDMENT OF PARTICIPATION AGREEMENT
This is an amendment to the Participation Agreement, attached hereto as Exhibit A and made a part
hereof, , Document number 2018053882, originally dated December 7, 2018 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 (11)(3) & (28) as follows:
Section 11. 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 December 6, 2021.
Section 28. TERM. This Agreement becomes effective, is binding upon, and inures to the
benefit of the City and the Developer from and after the date of the last signatory to this
Agreement. This Agreement expires on December 6, 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 2-day of �I3 Z , 2020.
CITY c, '. �II•RPUS C_ • TI MPM DEV'EL• •M NT, L.P.
AIFa, mo 'd III, CBO, AIA Mossa Moses Mostaghasi
Dire .or o Development Services General Partner
APPROVED AS TO FORM:
ATTEST.
./ )1,1-e/1‘ i5 - BE CA HUERTA
Buck Brice (date) CITY SECRETARY
Assistant City Attorney
for the City Attorney LiS"2-.31W„AU7N0KIu.►
STATE OF TEXAS § „�N
COUNTY OF
§ SEGRE1ARv
This instrument was acknowledged before me on day of , 2020, by
Mossa Moses Mostaghasi, General Partner, on behalf of MPM Development, L.P.
••\. Pos,,, CYNTHIA BUENO ► OVAAITAWki)?°� `_ ID# 1178588-3 ► Nublic's Signature
€ .,,, ., .. : Notary Public
'9,z..,. ''' STATE OF TEXAS ►
,,fio°. `'` My Comm. Exp. 11-04-2023 ►
1
SCANNED
Nueces County
Kara Sands
Nueces County Clerk
VG-51- 021-2021012800*
Instrument Number: 2021012800
Official Public Records
AMENDMENT
Recorded On: March 18, 2021 02:16 PM Number of Pages: 2
" Examined and Charged as Follows: "
Total Recording: $21.00
%%%%%%%%%% STATE OF TEXAS
�oONTY CON'hi Nueces County
rri. ft
* �, itl i0 I hereby certify that this Instrument was filed in the File Number sequence on the date/time
0o j— i printed hereon, and was duly recorded in the Official Records of Nueces County,Texas
11`F Nu e64:" Kara Sands
�� Nue6 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: 2021012800 DEVELOPMENT SERVICES CITY OF CC
Receipt Number: 20210318000189 2406 LEOPARD STREET
Recorded Date/Time: March 18, 2021 02:16 PM
User: Regina C CORPUS CHRISTI TX 78408
Station: CLERK04