HomeMy WebLinkAboutC2022-052 - 3/21/2022 - NA THIRD AMENDMENT OF DEFERMENT AGREEMENT
STATE OF TEXAS §
COUNTY OF NUECES §
This is an amendment to the Deferment Agreement, Document Number 2020029842
between the City of Corpus Christi, a Texas home-rule municipality ("City"), and Avanti
Legacy Bayside, LP ("Developer") for Avanti Legacy Bayside, Lot 1 Block 1 ("Plat") ending
on July 15, 2021.
Whereas, Avanti Legacy Bayside, LP requests to extend the time for installation of the
required improvements.
NOW. THEREFORE, in consideration of the mutual covenants herein, the Parties agree to
amend the Deferment Agreement as follows:
1 . Developer and the City agree modify the termination date, to extend the Deferment
Agreement for ending on September 15, 2022.
2. Developer agrees to extend the letter of credit No. 1040 for successive one-year
periods until the Deferred Improvements are completed.
3. The time to complete Deferred Improvements in accordance with City's engineering
standards and the construction drawings approved by the City departments is
extended to September 15, 2022.
4. Time is of the essence in the performance of this Agreement. Failure to complete
Deferred Improvements in accordance with City's engineering standards and
construction drawings approved by the City departments by September 15, 2022, is
a default.
5. Upon default, the City may draw upon the Irrevocable Letter of Credit No.
ISB001873.
All other terms and conditions of the original agreement not in conflict with this amendment
remain effective and in full force.
1
SCANNED
4 EXECUTED IN ONE ORIGINAL this Z l day of %M4 , 2022.
CITY OF CORPUS CHRISTI
P. O. Box 9277
Corpus Christi, TX 78469-9277
(361) 826-3240 Office
(361) 8 674428 Fax
)
Al e Raymond Ill,
Dfrectpr of Development Services
THE STATE OF TEXAS §
§
COUNTY OF NUECES §
This instrument was acknowledged before me on (rjk 611 , 2022, by
1/1
Albert J. Raymond III, Director of Development Services for the City of Corpus Christi,
Texas.
4:"yp';, YVETTE WALLACE
_:r ,_NotaryPublic,State of Texas
" r Comm.Expires 08 08 2025 I/
-'114i," Notary ID 133255582 _ C--' L. , , ,
Not: ' •ublic's Signature
) 46-1-1
Approved to Legal Form:
174-‘1/C/P) it/l'
Buck Brice
Assistant City Attorney
2
DEVELOPER:
Avanti Legacy Bayside, LP.
8500 Shoal Creek Blvd
Building 4, Suite 208
Austin Texas, 78757
7 L I- 07.. l cp �c�ZL
Enrique Flores IV-President Date
Director of H4 Development, Inc., being the
Sole member of Avanti Legacy Bayside GP, LLC, being the
General Partner of Avanti Legacy Bayside, LP.
THE STATE OF TEXAS §
COUNTY OF Tat° S §
This instrument was acknowledged before me on MIA IGUVt& (0 , 2022, by Enrique
Flores IV-Director of H4 Development, Inc., being the Sole member of Avanti Legacy
Bayside GP, LLC, being the General Partner of Avanti Legacy Bayside, LP.
006/4,RJ 2Q Ub
Notary Public's Signature
�•aptMYpG..$
•
t••14%%
r,••
• 1 .
• 9 :
0 TEI.r
%
°i:;%?06o430...e.
//*1147411Z00
3
Nueces County
Kara Sands
Nueces County Clerk
*VG-50-2022-2022013793*
Instrument Number: 2022013793
Official Public Records
AGREEMENT
Recorded On: March 22, 2022 11:33 AM Number of Pages: 4
" Examined and Charged as Follows: "
Total Recording: $29.00
;\� STATE OF TEXAS
�o�NSY CO4 �4 Nueces County
* c. , *��� I hereby certify that this Instrument was filed in the File Number sequence on the date/time
printed hereon,and was duly recorded in the Official Records of Nueces County,Texas
r/\a Qi
//r, Kara Sands
(1 op E ` ~�' 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: 2022013793 DEVELOPMENT SERVICES CITY OF CC
Receipt Number: 20220322000076 2406 LEOPARD STREET
Recorded Date/Time: March 22, 2022 11:33 AM
User: Lisa C CORPUS CHRISTI TX 78408
Station: CLERK03