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HomeMy WebLinkAbout021958 ORD - 06/14/1994AN ORDINANCE AUTHORIZING THE CITY MANAGER, OR HIS DESIGNEE, TO EXECUTE A PARTICIPATION AGREEMENT WITH BRASELTON LAND VENTURE, INC. RELATIVE TO THE IMPROVEMENTS TO EVERHART ROAD ADJACENT TO THE VILLAGE AT THE LAKES DEVELOPMENT; AND DECLARING AN EMERGENCY. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: SECTION 1. Authorizing the City Manager, or his designee, to execute a Participation Agreement with Braselton Land Venture, Inc. relative to the improvements to Everhart Road adjacent to the Village at the Lakes development and declaring an emergency a copy of which is on file with the City Secretary's office. SECTION 2. That upon written request of the Mayor or five Council members, copy attached, to find and declare an emergency due to the need for immediate action necessary for the efficient and effective administration of City affairs, such finding of an emergency is made and declared requiring suspension of the Charter rule as to consideration and voting upon ordinances at two regular meetings so that this ordnance is passed a shall take effect uponfirst reading as an emergency this the 1 L �- day of Witt , 19Q . Al LEST: MAYOR THE CITY OF APPROVED: 14 DAY OF ,Ap , 19 qf- JAMES R. BRAY JR., CITY ATTORNEY • By _Al(k.1.1zyl keeetaic r Alison Gallawa v Assistant City Attorney AG5000.511.abr 95R PUS CHRISTI PARTICIPATION AGREEMENT STATE OF TEXAS § COUNTY OF NUECES § This agreement is made by and between the City of Corpus Christi (City) and Braselton Land Venture, Inc. (Developer). WHEREAS, Developer has proposed a residential subdivision known as Village at the Lakes, a 25 -acre tract out of Lots 1, 2, 15, and 16, Section 6, Flour Bluff and Encinal Farm and Garden Tracts; and WHEREAS, Developer has, in compliance with the provisions of the City Platting Ordinance, submitted a preliminary plat of said subdivision which has received approval from the City Planning Commission; and WHEREAS, Developer, in compliance with the City's Platting Ordinance, will be required to dedicate right-of-way for Everhart Road and to improve Everhart Road to the minimum standards required by the Platting Ordinance; at the time of final platting of the various units of the subdivision which abut Everhart Road; and WHEREAS, the City desires a pavement section be constructed which exceeds the minimum street section required by the Platting Ordinance; and WHEREAS, the City and Developer entered into a Participation Agreement (as approved by the City Council by Motion No. M93-080, passed March 9, 1993) relating to the improvements to Everhart Road adjacent to Village at the Lakes Unit 1; and WHEREAS, the City desires that the improvements to Everhart Road be completed as quickly as possible along the remainder of the Village at the Lakes frontage (470.3 feet more or less), all of said proposed street right-of-way is currently owned by Developer, in order to provide a uniform pavement width of Everhart Road to enhance the traffic capacity and enhance the safety to the travelling public; and WHEREAS, the Developer is willing to construct the desired pavement section within the limits desired by the City; NOW, THEREFORE, in order to provide a coordinated street construction project, the City and Developer agree as follows: 1. The Developer will construct street improvements along Everhart Road abutting the remainder of the proposed Village at the Lakes Subdivision as Participation Agreement - Everhart Road Braselton Land Venture, Inc. Page 1 of 4 shown on Exhibit 'A' in conjunction with the construction of the Village at the Lakes, Unit 2 Subdivision. The Everhart Road improvements will complete the 62 -foot wide street as contemplated by the City's Urban Transportation Plan. The improvements will be constructed in accordance with plans and specifications approved by the City Engineer. This agreement shall be null and void should the subdivision construction authorized by the approved plans and specifications not be completed within the time limits specified in the City's Platting Ordinance or if not constructed per the approved plans and specifications; the construction will then be contracted for and financed completely by the Developer. 2. The total estimated cost of the Everhart Road improvements with the pavement section desired by the City (four inches of hot mix asphaltic concrete, eight inches of caliche base, and six inches of lime stabilized subgrade) is $56,200. The estimated cost of the improvements to the minimum standards of the Platting Ordinance (two inches of hot mix asphaltic concrete, six inches of caliche base, and eight inches of lime stabilized subgrade) is $36,800, which is the Developers share. 3. The City agrees to provide the funds necessary to construct the Everhart Road improvements (estimated at $56,200) to the Developer at the time of approval of the plans and specifications and delivery of a Performance Bond from a surety authorized to do business in the State of Texas in the amount of $56,200, which guarantees completion of the work. 4. For purposes of this agreement, the City's share of the cost of the Everhart Road improvements shall not exceed Nineteen Thousand Four Hundred Dollars ($19,400). The City's share will be adjusted according to the actual construction cost after completion of the work but in no event shall exceed the above stated amount. 5. The Developer covenants to reimburse the City for Developers share of the cost of the Everhart Road Improvements in the following manner: a. At the time of recordation of the plat of Village at the Lakes Unit 2 (as shown on Exhibit 'A') an amount equal to 20% of the Developer's share will be due and payable. b. The remaining 80% will be due and payable upon recordation of the subdivisional plats of future units of Village at the Lakes. Under the current preliminary plat, 66 lots will remain in the development after recordation of Unit 2. The amount due for each future unit will be the ratio of the number of lots being platted to 66. Should the total Participation Agreement - Everhart Road Braselton Land Venture, Inc. Page 2 of 4 number of lots in the development change as a result of amended preliminary or final plats, the amount paid to the City for that plat will be adjusted accordingly. c. Not withstanding the above provision, all funds due the City will be paid no later than three years from the date of execution of this agreement. d. If any portion of the proposed Village at the Lakes Subdivision, other than lots in Unit 1 or Unit 2, is sold by Developer, all funds due the City, based on the formula set out in 5.b. above, shall be immediately due and payable. e. Any funds due to City hereunder which remain unpaid at the expiration of three years from the execution date of this agreement shall bear interest at twelve percent (12%). 6. Fred Braselton personally guarantees performance of this Participation Agreement by Braselton Land Venture, Inc. as signified by his written guaranty executed contemporaneously herewith and attached and incorporated as Exhibit 'D'. 7. Developer shall indemnify and hold harmless the City, its agents, officers and employees ('Indemnitees') from all suits, actions or claims and from all liability for any and all injuries or damages sustained by any person, including, without limitation, workers compensation, personal injury or death, arising from or incident to this street construction developer agreement, regardless of cause or of any concurrent or contributing fault or negligence of Indemnitees, including Indemnitees' sole negligence. 8. The Developer further agrees, in compliance with City of Corpus Christi Ordinance No. 17112, to complete, as part of this Agreement, the Disclosure of Ownership Interests form attached hereto and labeled Exhibit 'C' 9. The Agreement shall become effective and shall be binding upon and shall inure to the benefit of the parties hereto and their respective heirs, successors, and assigns from and after the date of execution. EXECUTED IN DUPLICATE originals, this day of , 1994. ATTEST: THE CITY OF CORPUS CHRISTI By: City Secretary Juan Garza, City Manager Participation Agreement - Everhart Road Braselton Land Venture, Inc. Page 3 of 4 APPROVED: By. day of , 1994 Assistant City Attorney -Alison favoij STATE OF TEXAS § COUNTY OF NUECES § DEVELOPER: BRASELTON LAND VENTURE, INC. "(12 Fred rasefton, Vice President This instrument was acknowledged before me on , 1994, by Juan Garza as City Manager of the City of Corpus Ch i, Texas, a Texas Municipal Corporation, on behalf of said corporation. Notary Public, State of Texas STATE OF TEXAS § COUNTY OF NUECES § This instrument was acknowledged before me on Braselton as Vice President of Braselton Land Vent -, Inc., a Texas Corporation, on behalf of said corporation. , 1994, by Fred Notary Public, State of Texas Participation Agreement - Everhart Road Braselton Land Venture, Inc. Page 4 of 4 GUARANTY Date: June 2, 1994 City: City of Corpus Christi Texas, a municipal corporation Developer: Braselton Land Venture, Inc., a Texas corporation Improvements to Everhart Road: Guarantor: Fred Braselton Guarantor's Address: 6910 Sir Palleas Dr., Corpus Christi, Nueces County, Texas 78413 To induce City to enter into the Participation Agreement and for other consideration, Guarantor agrees that -- 1. It guarantees the performance of Developer's obligations under the Participation Agreement. 2. This is a primary, irrevocable, and unconditional guaranty of payment and performance and not of collection and shall be independent of Developer's obligations under the Participation Agreement. 3. It shall make all payments to City at City's address set forth in the Participation Agreement. 4. This guaranty shall remain in effect regardless of any modification or extension of the Participation Agreement. 5. Guarantor's obligations shall not be diminished by any compromise or release agreed on by Developer and City or by the discharge, limitation, or modification of Developer's obligations in any bankruptcy or other debtor relief proceeding. 6. If there is more than one guarantor, the obligations of each guarantor shall be joint and several. 7. Texas law shall apply to the guaranty. Guarantor waives its rights 1. To notices of acceptance, modification, extension, default, and any other notice. 2. To claim any defense arising out of lack of diligence; any failure to pursue Developer; loss or impairment of any right of subrogation or reimbursement; release of any other AG0900.071.abf guarantor or collateral; death, insolvency, or lack of corporate authority of Developer; waiver, release, or election, based on the City's or Developer's rights and obligations under the Participation Agreement and the enforcement of its terms. 3. Under chapter 34, Texas Business and Commerce Code. The prevailing party in any dispute arising out of this guaranty shall be entitled to recover reasonable attorney's fees. STATE OF TEXAS COUNTY OF NUECES GUARANTOR F ed Braselton ACKNOWLEDGMENT is i trument was acknowledged before me on , 1994 by Fred Braselton.(� ( U 11�.1A.l li 61)1-Al4- Notary Public, State of Texas Printed Name: Expiration Date: CONNIE PARKS Notary Pubic STATE OF TEXAS My Comm. Exp. Nov. 9,1995 AG0900.071.abf 2 Corpus Christi, Texas f4- day of , 19_ TO THE MEMBERS OF THE CITY COUNCIL Corpus Christi, Texas For the reasons set forth in the emergency clause of the foregoing ordinance an emergency exists requiring suspension of the Charter rule as to consideration and voting upon ordinances at two regular meetings: I/we, therefore, request that you suspend said Charter rule and pass this ordinance finally on the date it is introduced, or at the present meeting of the City Council. Respectfully, Respectfully, Council Members MAYOR THE CITY ORPUS CHRISTI The above ordinance was passed by the following vote: Mary Rhodes %\ Dr. Jack Best Melody Cooper Cezar Galindo "/� �r Betty Jean Longoria LA Edward A. Martin aktaAht, Dr. David McNichols 04'I David Noyola /, nn Clif Moss 7 \torte\045 AG5000.511