HomeMy WebLinkAboutC2005-597 - 11/15/2005 - ApprovedDEFERMENT AGREEMENT
STATE OF TEXA~
COUNTY OF NUECES
'.'h,S Agreement ~s entema into between the City of Corpus Chdsty, Texas ('City') and
Rouen B. Wallace. Manager, Boulevard Development Company, L LC. ('~),
aha pertains to deferral of the improvements required pdor to filing the final plat of
'"adre Plaza, which was approved by Planning Commission on November 2, 2005 a
;:'~Dy ~ the plat Is attached and Incorporated as Exhibit 1.
WHEREAS. the Developer is obligated under Section III, Paragraph H, Subparagraph 5,
.of, the Plathng Ordinance to construct seventy-five percent (75%) of the required
,mprovements, including construction of an 8-inch water main, an 8-Inch sanitary aewer
;ina and e:,cavation of a storm water ditch, as shown on Exhibit "2', coplee of the
.:~'.nslructk:,n drawings, which are attached to and incorporated Into thla Agr~
aefore the final plat is en0orsed by the City's Director of Engineering; and
WHEREAS. the Developer is sseklng to have the plat filed Immediately with the County
Clerk of Nueces County, Texas, before completion of seventy-five percent (75%) of the
reou~red Improvements as required by Section III. Paragraph H, Subparagraph 5, of the
Platting Ordinance; and
WHEREAS, the Developer will deposit the sum of one hundred seventy ~
thousand, two hundred five dollars and 31 cents ($177,205.31)which la 110% of the
estimated cost of censtructJng the required Improvements, as shown o~ the attached
costs estimate, which is attached and Incorporated as E,xhlblt '3', with the CITY OF
CORPUS CHRISTI: and
WHEREAS, the C~ty Attorney and Director of Finance have approved this
and
WHEREAS, the Developer has satisfied all other subdivision requirements, perk
cledlcations, park dedlcabo~ deferment agreements, and maintenance agreements and
ell special covenants have been completed; and
WHEREAS, the Developer Is entenng into this Deferral Agreement as required by
.Cection V Paragraph A, Subparagraph 3.6) of the Platting Ordinance.
NOW.
THEREFORE. the City and Developer agree as follows:
The City agrees to waive the requlrernent that required improvemenl~ be
seventy-five percent (75%) completed before the final plat la endorsed by the
City's Director of Engineering and further agrees to allow the Developer to defer
the completion of tl~e construction of the required Improvements, Including
construction of an 8-Inch water main, an 8-Inch sanitary sewer line and
~xc. avetlon of a storm water ditch, as shown In Exhibit =2', for up to one (1) year
trol~'l the date of th~s Deferment Agreement.
Wallace. Ro~e~t IL
2oe5-59'7
%t21N)~I02
The Developer agrees to deposit one hundred seventy seven thousand, two
hundred five do, lam and 31 ce~-~ ($177,205.31) letter of credit (F.~hl~ 4) ~
the CITY OF CORPUS CHRISTI, before this Agreement IS signed and approved
by C~ Council and If the letter of credit Is not preeenl~l by that time thIs
Agreement shall become null and void
T~e Developer agrees to construct the required Improvements, Including
construction of an 8-Inch water main, 8-Inch sanitary sewer line and excavation
of a sto.,, water ditch. In accordance with the City's engineering standards In
The Developer agrees to deposit one hundred seventy seven thousand, two
hundred five clollars and 31 cents ($177,205.31), In the form of an I~le
letter of credit Issued by Frost Bank, for 110% of the estimated cost of
cor~bucting the required Improvements, as shown In Exhibit '3', which IS
attached to and incorporated into this agreement, ~ the City of C, oq)l~ Christi
on or before the plat signed and approved by City. and If the deposit IS not made
by that time this Agreement shall become null and void.
Upon completion of the required Improvements, Including cormbuctlon of an 8-
Inch water main, 8-Inch sanltery sewer line and excavation of a slx~rn water
dItch, by November 15, 2005, or such later time as may be mutually agreed upon
by both parties, and upon acceptance of the Project by the City Engineer and
upon compliance by the Developer with the terms of the De,'erment AgmemenL
the City Engineer shall Immediately release Developer from all obligations
hereunder, by mailing such Release Letter to:
Robert B. Wallace, Manager
Boulevard Development Company, L LC.
4316 N. 10~. SlTc~
Mc.Nlen, Texas 78504
and thereafter re'cum to the Developer wlUdn sixty (60) days of ~ compleBon of
cormbuctlon and settlement of cormtmc~on contracts, rite submitted letter of
If the required Improvements, Including construction of an 8-1nch water main, an
8-inch sanitary se~r line and excavation of storm water ditch, have not been
completed by November 15, 2006, or If ~ Developer falls tz) deposit any
Incmasa security as set out below, after notice t~ the Developer and opportunity
to cure as s[aa~l In Paragraph 8 below, the City will tmns~r the balance of the
amounts received, Including any InC.'est earned, to the appropriate City f~nd and
the City will then begin completion of the required Improvements, Including
con~[~uctlon of~ of an 8-Inch water main, 8-Inch sanitary sewer line and
excavation of a storm water ditch Impmverne~-~L~ with any monle~! received from
the Developer, bo~ principal end Interest, remaining after comple'don of
cor~uct~on being ~e~Lunded by the City to the Developer. If ~ City constructs
al~ or any part of the Improvements, the Developer agrees to reimburse the City
for any additional cost of the Improvements, If the sum of money and Interest
prove Inadequate to complete the improvements, wtthln thirty (30) days at, ur City
completes the Impmvemei~b~ and bills ltm Developer.
The City and Developer agree that If the Developer formaly vacates the current
plat, with approval of the Planning Commission, prior to lyre deadline for the
completion of the construction of the required Improvements, Including
construction of an 8-Inch water main, 8-Inch sanitary sewer line and excavation
of s~rm water ditch, with related I.;~u~bucture. the money received by the City
I'rum the Developer, remaining on deposit, plus Interest earned, will be released
and Immediately returned to the Developer.
If Developer duruults in any of Its covenants or obllgatlorm under this Deferral
Agreement, the City Engineer will send Developer and the Project Engineer
wrltlen notice by certified mail, return receipt requested, advising Developer of
the default and giving Developer thirty (30) days from date of receipt of lyre letter
to cure the default If the Developer falls to cum Itm d~;'ault after such notloe end
opportunity to cum, the CW Engineer will exercise the City's rights and tmr~'~r
any moniee received and Interest eemed to the approlxla~e fund of the City to
complete the deferred improvements. In the event them am any monies
received by the City from the Developer, plus Interest earned, remalrgng after ttm
C~ty has completed consbuctlon of the improveme~Ls, the excess monlee, bo~h
pnncipal and Interest, shall be refunded to Developer w~ln sixty (60) days of the
comp~e'don of construction and settlement of conat3'ucUon contracts.
10.
11
12.
13.
The Developer agrees that the City, alter notice In writing to the Developer and
Project Engineer, may accelerate payment or performance or require addrdonal
security when the City Engineer determines Itmt the prospect of payment or
performance Is questionable.
The Developer covenants to construct the required Improvements, and that such
covenant shall be a covenant running with the land.
The City's Director of Engineering Se~, at Developer's expense, shall file of
record this Dererrnent Agreement In the records of Nuecee County.
No party may assign this Durerrnant Agreement or any rlghte hereunder wi[h the
prior written approval of the other perUes.
Unless othen~se stated herein, any notice required or permlttad to be given
hereunder shall be In writing and may be given by personal deliver, by fax, or by
certified mall, and If given personally, by fax or by certified mall, ahal be deemed
sufficiently given if addressed to the appropriate party at the address noted
opposite the slgnalum of such party. Any party may, by notJce to lhe oltmr In
accord with the provtsions of this paragraph, specify a different address or
addressee for notice purposes.
14. This Agreement shall be construed under and In accord wflJ~ the laws of the Stub=
of Texas and all obligations of the parties created hereunde~ are performable In
15.
Nueces County, Texas, and all lawsuits pursuant hereto shall be brought In
Nueces County.
The Developer further agrees, In compliance with the City of Corpus Chrls'd
Ordinance No. 17113, to complete, as part of this Agreement, the Disclosure of
Ownership Intere~ form attached hereto (FJdflb~t 5).
16.
This Agreement shall be executed In trlplicete, all original copies of which shall
be considered one Instrument. When all original copies have been executed by
the City, and at least two original copies have been executed by the Developer,
th~s Agreement shell become effective and binding upon and shall Inure to the
bene~,, of the parties and their respective hairs, successors and assigns.
Robert B. Wallace, Manager
Boulevard Oevelopmeat Company, L.C.
4316 N. 10~ Slnmt
Mr..Nle~, Texas 78504
(95 )Gee-5ao5
('Devek mr")
Boulevard Development Company LC.
STATE OF TEXAS ~
COUNTY OF NUECES §
This Instrument was acknowledged before me on [:he>ev~',)__o't~pmedanYnnt ~_,om~r~, LC&LC.UC.,~. ,
2005, by Robert B. Wallace, Manager, Boulevard
DEVELOPER, In the cepadty herein shared and as the act and deed of said e,~G;.y.
NOTARY PUBLIC, STATE OF TEXAS
CITY OF CORPUS CHRISTI ('City')
P. O. Box 9277
Corpus Christi, Texas 78469
Telephone: (36'1) 880-3500
Facsimile: (36'1) 880-3501
ATTEST
c~y Secmta~
By: //'~ )'1. ~
C'lty Manager
THE STATE OF TEXAS §
COUNTY OF NUECES §
Thi~l~[l~j~v/~s. acknowledged before.m.__oe n~e /"~ dayof
~ ~V~'c [~,l:~v ,2005, byGeorgeK, r, oe,..wManegerforb~ClTYOF
CORPUS CHRISTI, a Texas munldpal corporation, on behalf of said corpo~u[;on.
~ ~*' ~ N~JTARY PUBLIC, STATE OF TEXAS
APPROVED AS TO FORM: This ..' day of ~'c.-~..~.~. ,20~
By:
jo.. LT
Assistam City AMa'ney
For City Attorney
r o
EXHIBIT 1 (Page I of 2)
EXHIBIT I (Page 2 of 2)
~' AC TO 1,;' PVC
WAI'~ ~ CONNECTION
N¢}I TH PADRE ISLAND DRIVE ,(SH-358}~,/
200
CONNECTION DETAIL
PADR~ PLAZA
WATER IMPRO~ME]~
DEFERMENT
EXHIBIT 2 (Page I of 3)
2O0 100 0 ~0
SOI.}TH PADRE ISL
~az m. z ~. ..........
L
WII.LIAMS DRIVF.
NAISMITH ENGI~IEERING, INC.
ENGuo:~c~G · ~Vl.llOZq~Al, · ~
PADRE PLAZA
SANITARY SEWER IMPROVMENTS
DEFERMENT AG~:an:'MENT EXHIBIT
- ~ ',2,--~°°' .':
',.(')1 '1 H I'AI)RF. I.%I.ANI) I)RI%'I-:
200 100 0 200
~ I
WII.I,IAMS DRIVE
NAISMITH ENGINEERING, INC.
PADRE PLAZA
STORM SEWER IIdI:~ENTS
DEFERMENT ~ENT EXHII~'F
I._~m
· EXHIBIT 2 (Pave3of 3~
Na~ ~. Inc
D~ U~k
h~r 10 2005
Conatrucflon Cc~t~
TIUe:
I..ocatmn:
P~dre P1mz~ D~m'mm~t .~
9Lo~
17.193
S.P.I.D. I:m~mmn Nb & DMy
;; P.M DESCRa.'~ K)N
A. PAV1NQ iPROVEB~I'r8:
Clem' ami Grub
7, E xcavatJo~ Fin
QUA#. Uk1'r
4 AC
5000 AC
UNIT TOTAL
PRICE CO~T
PAV1HO SUB-TOTAL:
9. WATER iPfliTt/EIL=HT8:
2 F ~m ~
4 Gain V~, 8'
5 6' PVC Plug
5 ~' PVC CgO0
6 ~ ~ P~ C~
9 ~ P~
'0 '2' ~V~
4 LS $2,0(X).00 $8,000.00
4 EA $2,900.00 $11~00.00
4 EA $376.00 Sl,500.00
5 EA $625.00 $3.126.00
1 12~ LF $21.75 $24,490.80
1 EA $4oo.oo $44x).oo
360 LF S40.00 $17,~40.(X)
I ~ ~.~00.00
1 ~ ~,1~.~ ~,1~.~
WAT--~_R SUB-TOTAL:
C, ~ANITARY 8EWT=R iPROVEMEN'r~:
1 Ci '~ ~ 1 .~ ~ ~.~
2 O~ Tm~ ~ 1 ~6 ~ $1.~
3 4 ~ M.H. (F-5' ~) 2 ~ $1,~.~
4 4 Dlame~r M.H. (5'-7' ~) 2 ~ ~.~
5 ~ ~ ~ ~ (R~b) 1 ~ ~,~.~
~ ~' G~ ~ ~ O 5'-T ~ ~7 LF ~4.~
6 8' G~ ~ ~r ~ 7'-9' ~ 228 LF ~.~
· ANITARY 8EWF_R 8UB-'I'OTAE
D. MISCELLANEOUS IMPROVEMENTS: 1 $~t Fen,-~
2 '~ orm~'uct]on
1 LS $~ii,O0~.O0
I LS $2,54X).00
MIBCEI_LANEOU8 8UB..TOTAi~
$TAoo.oe
CONSTRUC I ION CO~T~ TOTAL
ENGINEERJNG FEE~ (7.6~)
$161,0~.74
10% CONTINGENCY: $16,100.ff/'
AMOUI~fF Of= 8ECtJRJ'rY
$177.Z{~.31
EXHIBIT 3
I. ETTI:.R OF CRFDIT IN THE AMOUNT OF SI77.205.31 TO BE SU-BMI'I'rl:~ BY
DEVELOPER (HAND DELIVER) TO THE CITY ON FRIDAY NOVEMBER 11.
2005
EXit-mIT 4
N/A
N/A
N/A
LARRY FALLEK
..--~' Ti#: MANAGE~
- ~' ~_/-/ Di~: 11/10/05