HomeMy WebLinkAboutC2025-218 - 10/22/2025 - NA FORTH AMENDMENT OF PARTICIPATION AGREEMENT
For Oversizing Streets and Drainage Crossing Per UDC §8.4
This is an amendment to the Participation Agreement, document number 2018053882, for Royal
Creek Unit 8, 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
the Participation Agreement, subsection 3 of Section 11, and Section 28 as follows:
Section 11. DEFAULT. The following events shall constitute default:
3. The Developer fails to complete construction of the Roadway Extension under the approved
plans and specifications on or before December 6, 2026.
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, 2026, unless terminated earlier in
accordance with the provisions of the agreement.
All other terms and conditions of the original agreement, with amendments, remain effective and
in full force.
EXECUTED IN ONE ORIGINAL and made effective this 22 day of October
2025.
CI OF ORPUS C MPM DEVELOPMENT, L.P.
Michael Dice Mossa'M,�es Mostaghasi
Director of Development Services GeneraYPartner
APP VED AS TO F RIVI�
Buck Brice (Date)
Deputy City Attorney
For City Attorney
SCANNED