HomeMy WebLinkAboutC2005-705 - 12/20/2005 - Approved
DEFERMENT AGREEMENT
STATE OF TEXAS ~
~
COUNTY OF NUECES ~
This Agreement is entered into between the City of Corpus Christi ("City") and Wayne Vann,
President of Navy-Army Credit Union, (Developer), and pertains to deferral of the
Improvements required prior to filing the final plat of Cullen Place, Blocks B-2A, B-2B, and B-
2C, which was approved by Planning Commission on August 10,2005 a copy of the plat is
attached and incorporated as Exhibit 1.
WHEREAS, the Developer is obligated under Section III, Paragraph H, Subparagraph 5, of the
Platting Ordinance to construct seventy-five percent (75%) of the required off-site public
improvements, including construction of water lines, Exhibit 2, before the final plat is signed by
the City's Director of Engineering. Detail construction drawings will be provided by the
Developer and approved by the City's Departments of Development Services and Engineering
prior to the start of construction: and
WHEREAS, the Developer is seeking to have the plat filed immediately with the County Clerk
of Nueces County, Texas, before completion of seventy-five percent (75%) of the required
improvements as required by Section III, Paragraph H, Subparagraph 5, of the Platting
Ordinance; and
WHEREAS, the Developer will deposit the sum of forty seven thousand, seven hundred and
twenty one dollars and eighty five cents ($47,721.85) which is 110% of the estimated cost of
constructing the required improvements, as shown on the attached costs estimate, which is
attached and incorporated as Exhibit "3", with the City of Corpus Christi; and
WHEREAS, the City Attorney and Director of Finance have approved this transaction; and
WHEREAS, the Developer has satisfied all other subdivision requirements, park dedications,
park dedication deferment agreements, and maintenance agreements and all special
covenants have been completed; and
WHEREAS, the Developer is entering into this Deferral Agreement as required by Section V,
Paragraph A. and Subparagraph 3. (b) of the Platting Ordinance.
NOW, THEREFORE, the City and Developer agree as follows:
1. The City agrees to waive the requirement that required improvements be seventy-five
percent (75%) completed before the final plat is endorsed by the City's Director of
Engineering and further agrees to allow the Developer to defer the completion of the
construction of the required water lines public improvements, for up to twelve (12)
months from the date of this Deferment Agreement.
2005-705
1 2/20/05
M2005-439
"Ian-Arm:v Credit Inion
2 The Developer agrees to deposit forty seven thousand, seven hundred and twenty one
dollars and eighty five cents ($47,721.85) cashiers check, with the CITY OF CORPUS
CHRISTI, which is 110% of the estimated cost of constructing the required
improvements, on or before the plat is filed with the County Clerk, and if the deposit is
not made by that time this Agreement is signed and approved it shall become null and
void
3 The Developer agrees to construct the required improvements, including construction
public water lines to serve Cullen Place, Blocks B-2A, B-2B, and B-2C in accordance
with the City's engineering standards in effect at the time of construction.
4 The principal amount of forty seven thousand, seven hundred and twenty one dollars
and eighty five cents ($47,721.85), shall be placed by the City in an interest-bearing
account and the total sum, both principal and interest, shall be made available to the
Developer in such amounts and on such dates as may be mutually agreed upon by both
parties, by and through their designated representatives, for use by the Developer
solely for the construction of the required improvements hereunder. Such funds shall
not be used for any other purpose whatsoever.
5 Upon completion of the deferred improvements, including the construction of public
water lines to serve Cullen Place, Blocks B-2A, B-2B, and B-2C , by December 20,
2006, 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 Deferment Agreement, the City Engineer shall immediately release
Developer from all obligations hereunder, by mailing such Release Letter to:
Mr. Wayne Vann, President
Navy-Army Credit Union
5725 Sphon Drive
Corpus Christi, Texas 78414
and thereafter refund to the Developer within sixty (60) days of the completion of
construction and settlement of construction contracts, any balance remaining of all
monies received by the City from the Developer, including interest earned.
6 If the deferred improvements, have not been completed by December 20,2006 or if the
Developer fails to deposit any increase security as set out below, after notice to the
Developer and opportunity to cure as stated in Paragraph 8 below, the City will transfer
the balance of the amounts received, including any interest earned, to the appropriate
City fund and the City will then begin completion of the deferred public water line
improvements, to serve Cullen Place, Blocks B-2A, B-2B, and B-2C with any monies
received from the Developer, both principal and interest, remaining after completion of
construction being refunded by the City to the Developer. If City constructs all 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
DeferAgreefinaldoc
complete the improvements, within thirty (30) days after City completes the
improvements and bills the Developer.
7 The City and Developer agree that if the Developer formally vacates the current plat,
with approval of the Planning Commission, prior to the deadline for the completion of
the construction of the deferred improvements, including construction of public water
lines, with related infrastructure the money received by the City from the Developer,
remaining on deposit, plus interest earned, will be released and immediately returned to
the Developer
8 If Developer defaults in any of its covenants or obligations under this Deferral
Agreement, the City Engineer will send Developer and the Project Engineer written
notice by certified mail, return receipt requested, advising Developer of the default and
giving Developer thirty (30) days from date of receipt of the letter to cure the default. If
the Developer fails to cure the default after such notice and opportunity to cure, the City
Engineer will exercise the City's rights and transfer any monies received and interest
earned to the appropriate fund of the City to complete the deferred improvements. In
the event there are any monies received by the City from the Developer, plus interest
earned, remaining after the City has completed construction of the improvements, the
excess monies, both principal and interest, shall be refunded to Developer within sixty
(60) days of the completion of construction and settlement of construction contracts.
9 The Developer agrees that the City, after notice in writing to the Developer and Project
Engineer, may accelerate payment or performance or require additional security when
the City Engineer determines that the prospect of payment or performance is
questionable.
10 The Developer covenants to construct the required improvements, and that such
covenant shall be a covenant running with the land.
11 The City's Director of Engineering Services, at Developer's expense, shall file of record
this Deferment Agreement in the records of Nueces County.
12 No party may assign this Deferment Agreement or any rights hereunder with the prior
written approval of the other parties.
13 Unless otherwise stated herein, any notice required or permitted to be given hereunder
shall be in writing and may be given by personal delivery, by fax, or by certified mail,
and if given personally, by fax or by certified mail, shall be deemed sufficiently given if
addressed to the appropriate party at the address noted opposite the signature of such
party. Any party may, by notice to the other in accord with the provisions of this
paragraph, specify a different address or addressee for notice purposes.
14 This Agreement shall be construed under and in accord with the laws of the State of
Texas and all obligations of the parties created hereunder are performable in Nueces
County. Texas, and all lawsuits pursuant hereto shall be brought in Nueces County.
DeferAgreefinal.doc
15. The Developer further agrees, in compliance with the City of Corpus Christi Ordinance
No. 17113, to complete, as part of this Agreement, the Disclosure of Ownership
interests form attached hereto (Exhibit 4).
16 This Agreement shall be executed in triplicate, 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, this Agreement
shall become effective and binding upon and shall inure to the benefits of the parties
and their respective heirs, successors and assigns.
EXECUTED in triplicate this / j day of ~Gl/nI\ht IL ,2005.
Wayne Vann, President
Navy-Army Credit Union
5725 Spohn Drive
Corpus Christi, Texas 78414.
By:
Wayne
Navy-
STATE OF TEXAS S
S
COUNTY OF NUECES S tk.
This instrument was acknowledged before me on the /3 day of
Wayne Vann, President Navy-Army Credit Union.
~, 2005, by
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S.L DElEON
MY COMMISSION EXPIRES
December 11, 'J!X)7
DeferAgreefinal.doc
EXECUTED in triplicate this /3 day of ~~~, 2005.
Sarah O'Brien, Executive Vice President
Navy-Army Credit Union
5725 Spohn Drive
Corpus Christi, Texas 78414.
~-
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Sarah O'Brien, Executive Vice President
Navy-Army Credit Union
STATE OF TEXAS S
S
COUNTY OF NUECES S
This instrument was acknowledged before me on the ~day of ~
Sarah O'Brien, Executive Vice President Navy-Army Credit Union.
, 2005, by
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S.L DE1.EON
MY COMMISSION EXPIRES
December 11, 2007
DeferAgreefinal.doc
ATTEST
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By: I ... : .' · ..... '-__
ARMANDO CHAPA,
City Secretary
CITY OF CORPUS CHRISTI ("City")
P. O. Box 9277
Corpus Christi, Texas 78469
Telephone: (361) 880-3500
Facsimile: (361) 880-3501
Geo~
City Manager
By:
THE STATE OF TEXAS S
S
COUNTY OF NUECES s ..0A .
This instrument was acknowledged before me on the dbY L~ay of ~- ,
2005, by George K. Noe, City Manager for the City of orpus Christi, a Texas municipal
corporation, on behalf of said corporation.
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NOTARY PUBLIC, S
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APPROVED AS TO FORM: This / r day of
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,2005.
By:
Joseph
Assistan
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For City Attorney
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EXHIBIT 1
PROPOSED 55 L.F.
F 8" pve WATER LINE -______
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BLOCK A-l
1.444 .ACRES
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GRAPHIC SCALE:
O' 200'
.
400'
. .
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PROPOSED 145 L.F. OF 8" pve WATER LINE
PROPOSED 112 L.F. OF 8" pve WATER LINE
CITY OF CORPUS CHRISTI
CULLEN PLACE, BLOCK B-2B
WATERLINE EXTENSION
EXHIBIT 2
CULLEN PLACE WATER EXTENSION
PRELIMINARY OPINION OF PROBABLE CONSTRUCTION COST
December 8,2005
Belmeade Street Waterhne Extension
Item Description Units Quantity Unit Cost Total Cost
! 8" PVC Water Line LF 257 $35.00 $8,995.00
--...--.- ---- ~_.~._-_._----
2 IFire Hydrant Assembly EA I $3,000.00 $3,000.00
-------"'.- -_. -..-_.- --- _.--
., ,8" x 6" Reducer EA I $500.00 $500.00
,
"---.- I --.------- '---'- -.
4 18" 22.5 Deg. Bend_______ EA I $350.00 $350.00
..-.....-
~ 18" 90 Deg. Be~______ I EA 1 $375.00 $375.00
.'---- -
(, i8" Plug EA I $250.00 $250.00
t---~- 18" X 8" Cross - ---..'.---.-.-----
EA I $650.00 $650.00
1---- -- . 1..-.--
X '8" Gate Valve w/Box EA I $1,500.00 $1,500.00
'--"-'-
l) :6" x 6" Tapping Sleeve & Valve EA I $2,500.00 $2,500.00
--- '-
10 iTie-In to Existing 8" Waterline EA I $2,000.00 $2,000.00
--
II Removal of Existing 8" Waterhne LF 20 $16.00 $320.00
~._--
12 Grout Fill Existing 8" Waterline LF 165 $18.00 $2,970.00
Water Extension Sub-Total:
$23,410.00
Airhne Koad Waterhne Extension
I 6" PVC Water Line LF 55 $25.00 $1,375.00
~- ._..__.._~
Fire Hydrant Assembly_____ EA 1 $3,000.00 $3,000.00
3 6" Plug EA 1 $200.00 $200.00
-.-- '6" X 6" Tee - - -',-,-- '-- -.
4 EA 2 $500.00 $1,000.00
-. .--..---..-
5 6" Gate Valve w/Box EA 2 $1,500.00 $3,000.00
1-----.
6 Tie-In to Existing 6" Waterline EA 1 $2,000.00 $2,000.00
Water Extension Sub-Total:
$10,575.00
Water Extension Sub-Total:
Contingency @ 10%
Sub-Total
$33,985.00
$3,398.50
$37,383.50
Engineering Fees:
$6,000.00
Grand Total:
$43,383.50
Required Deferment @ 110%
$47,721.85
Page 1 of 1
EXHIBIT 3
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CITY OF CORPUS CHRISTI
DISCLOSURE OF INTERESTS
City of Corpus Christi Ordinance 17112, as amended, requires all persons or firms seeking to do business with the City to
:;:V:::~::IOW;V;;OA~~i!Qluestion mu~tbe answe,ed... lIthe ,Quest;o~ is nota~~"~a".le,an:e'~i~.NA...
STREET ,~91-:~, ~~". ....Q:C .." . ".....".. CITY: .....c;.~~Ow~~......... ZIP: .7:8.~.I~........
FIRM is: Corporation ~ 2. Partnership 0 3. Sole Owner 0 4. Association 0
r: Other 0
.,.................. ...................................................................
DISCLOSURE QUESTIONS
If additional space is necessary, please use the reverse side of this page or attach separate sheet.
1. State the names of each "employee" of the City of Corpus Christi having an "ownership interest" constituting 3%
or more of the ownership in the above named "firm".
Job Title and City Department (if known)
N~7A ..
.........................................................................................
.................. . ... ..............<..................................................................
2.
State the names of each "official" of the City of Corpus Christi having an "ownership interest" constituting 3%
or more of the owners hip in the above named "firm".
N~ ~
filA:.
..... .............. ..................................................................
................. .................... ..................................................................
3. State the names of each "board member" of the City of Corpus Christi having an "ownership interest" constituting 3% or
more of the ownership in the above named "firm".
N~1A Boa'd comm;ss;ono'~mm'tteeBmBmBBmB B..mBB .BBB.
.................... ..................................................................
4.
State the names of each employee or officer of a "consultant" for the City of Corpus Christi who worked on any
matter related to the subject of this contract and has an "ownership interest" constituting 3% or more of the
ownership in the above named "firm".
Narr:1
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Consultant
.................................................................
....,....... . .................................................................
CERTIFICA TE
he date of this statement, that I have not knowingly withheld
emental statements will be promptly submitted to the City of
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Date: . ... ................<~~/a;?.................. ......
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EXHIBIT +
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