HomeMy WebLinkAboutC2005-709 - 12/20/2005 - Approved
DEFERMENT AGREEMENT
STAT! Oil TEXAS I
.
COUNTY OF NUECES ,
Thil Agreement Is ente.-d into between the City of COrpUI Christi, Texal ("City") and
Sage Properties ("Developer"). and pertains to d.rral of the Improvements required
prior to flUng the re-plat of f~nnan Ad~ltion. lotf '-11. ejock 2 & Portion gf ~av View
AYMUB, which was approved by ptannlng Commlalon on October 5. 200~, a copy of
the plat is attached and incorpora~ 88 Exhibit lIA."
WtEREAS, the Developer Is obligated under Section III. Paragraph H, Subparagraph
5, of the Platting Ordinance to construct seventy-five percent (76%) of the required
Improvements, before the final plat Is endorsed by the City's Director of Engineering;
WHEREAS. the Devllloper 18 seeking to det,r the construction of some of the pubUc
ImprQvements, (the lIo.rerNd Improvements', _ required by the City's Platting
Ordinance, as shown on Exhibit "B", caples of the approved engineering conatructlon
drawings, which are attaahed to and incorporated into this Agreement. for a period up to
two ye.rs;'
WHEREAS, the Developer 18 seeking to have the plat filed with the County Clerk of
Nuecea County. Texas, before completion of the required Improvemen", a8 required by
Saotion Ill, Paragraph H, SubparagFllph 8. of the Platting Ordinance:
WHEREM, the Developer will deposit a letter of credit In the amount One Hundred
S..n "Q'louIand One Hundred OM! dollars and S~lne cents CS107.~01.69),
........nttng 110% of the estimated cost or conetructing the Deferred Improvements. all
as shown on the attached coat estimate, which Is attached and Incorporated as Exhibit
nc., with the City;
WHEREAS. the City Attorney and Director of Flnl\nc8 have approved this transaction;
WHEREAS. the Developer has satlafied all other 8ubdiviaion requirements, park
dedlcationa, park dediClllion deferment agreements, and maintenance agreements and
all.peci.1 covenants haw been completed; and
\
WHEREAS, the Developer 18 entering into this Deferment Agreement as required by
s.ctlon V, Paragraph A, Subparagraph 3.b) of the Platting OftUnance.
NCWV, THEREFORE, the City and Developer agree a8 follows:
1. The City agrees to waive the requirement that deferred improvements be
completed before the final plat Ia ~rsed by the Clty's Director of Engineering
and further agrees to allow the Developer to defer the completion of the
construction of the public Improvements (referred to in this Agreement 88 the
Cererment Agreement ... 8Ige Properties
Pag.1of5
2005-709
12/20/05
M2005-441
Sage Properties
"Deferred Improvements") 81 shown in Exhibit "B", for up to two (2) years from
the date of this OeJer'ment Agreement
2. The Developer agrees to construct the Deferred Improvements, in accordance
with the City'. engineering standards in etfIIct at the time of construction.
3. The Developer 8S11'8" to deposit a total of One Hund"q Seven Thousand One
tlYmktd Ope d*rs and Sixty-t\line cents (lj07.101.69l, in the form of an
Irrevocable letter or ~It l880ed by Reqione Bank for 110% of the estimated
coat of constructing the Deferred Improvements. with the City, in a form approved
by the CItY. Director of Financial ServiCes. on or before the plat il filed with the
County Clerk. and if the deposit is not made by that time thia Agreement Ihall
become null and void. .
4. Upon completion of the Deferred Improvements within two (2) years from the
date of this Agreement, or later time 81 may be mutually agreed upon by both
partia, and upOn acceptan~ of the portion of all of the Deferred Improvements
by tne City Engineer end upon t;1OIY'pllanC8 by the Developer with the remaining
tenns of the Deferment Agreement, the City Engineer shall:
B. Immediate" release De~loper from the obligations to construct the
Deferred Impro~. by mailing a Release Letter to:
Sage Prapertl..
8303 Beverly Hili
HoUlton, TX 77057
b. Return to the Developer within sixty (80) daya of the completion of the
construction rI the Deferred Improvements and settlement of the
construction C08t8, the I~tter of credit and .ny balance remaining of all
monia. received by the City from the Developer, including any Interest
eameet for the portion of the Project.
&. If the Deferred Improvements have not been completed within two (2) years from
the date of this Agreement, or If the Developer fails to deposit any increased
security 81 set out below, after notiGe to the Developer and opportunity to cure .s
stated In Paragraph 7 belOw. the City may call the letter of credit and transfer the
amounts received, including any Interest earned, to the appropriate City fund and
the City will then begin completiOn of the conttruction of the Deferred
Improvements with any monies AlCeived ,from the Developer, both principal and
interest, remaining after oompletion of conatruction being refunded by the City to
the 'Bank and the Developer, as their In....... may appear. If City constructs all
or any part of the Deferred Improvementl. the Developer agrees to reimburse the
City for any additional cost of the Deferred 'mprovernenta, If the sum of money
and interest pro~ inadequate to complete the o.Ierrecl Improvements within
Der.m1Int Ag/eemInt - Sage Prapenfes
P-oe 2 of5
thirty (30) days after City complet.. the Deferred Improvements and bitt. the.
Developer. .
6. The City and Developer agree that If the Oe~eloper formally vacates the current
plat, with approval of the Planning Commission, prior to the deadline for
completion of the construction of the Deferred Improvements, the letter of credit
and any money received by the C~ty from the Developer remaining on depOIlt,
plus Intereat eamed. will be released and immediately returned to the Developer.
7. If Devefoper defaults In any of Its CQvenants or obligations under this Defennent
Agreement, the CIty Engineer will send Developer and the Project Engineer
written notice by certified mail, r~um receipt requ.ted, advising Oeve~oper of
the default and giving Developer thirty (30) days from data of receipt of the letter
to cure the default. If the Developer falls to cure the default after receipt of the
notice and opportunity to cure, the City Engineer will exerelae the City's rights
under the letter of credit and transfer any monies received and interest earned to
the appropriate fund of the City to complete the Deferred Improvemente. 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 Deferred
Improvementa, the Uce88 monies, bath principal and Interest, shall be refunded
to the Bank and the DeveloPer, as their In..- ",.y appear, within sixty (60)
days or the compllltlon of construction and settlement of construction contracts.
8. The Developer agrws that the City, after notice in writing to the Developer and
Project Engineer, may accelerate PIIyment or performance or require additional
security when the City Engineer ~etermines that the prospect of payment or
perfonnancel.q~ionab..
9. The Developer covenants to conatruct the Deferred Improvements, and that this
covenant shall be . covenant running with the lanc;l.
10. The City's Director of Engineering Servicea, at DeV8loper's expense, shall file of
record this Deferment Agreement in ttle records of Nueces County.
11. No party may aealgn this Defennent Agreement or any righta under this
Agreement without the prior written approval of the other party.
12. Unle88 othefwlae ltaled in this Agreement. any notice required or permitted to be
given hereunder "'all be.in writing and may be given by personal delivery. by
fax, or by certified mail. and if give", ~a1ly, by fax or by certified mail, shall
be deemed suft1ciIntIy given if add....... to the appropriate pIIrty at the address
noted above the elgnature of the party. Any party may t by notice to the other In
accord with the proviaicine of this paragraph. specify a different address or
addressee for notice purposes.
Deferment A&nIement - SIIge PropeI1iel
Pqe3of6
13. Thl8 Agreement shaH be construed under and in accord with the laWl of the State
of Texas and all <JbligatiQr18 of the parti.. created hereunder are performable In
Nueces County, Tex.., and all lawsuits pursuant hereto shall be brought in
Nueces County.
14. The Developer further agrees, in compliance with the City of COrpU8 Christi
OrdlNlnce No. 17113, to complete. .8 part of this Agreement, the Disclosure of
Ownership Intereata form attached to this Agreement as exhibit "D."
15. The City agrees that upon the "execution of thla Agreement, the posting of the
required letter of credit with the City, and the provision of operable water and
sewer servioe a8 r.quired by the Platting Ordinance, the City immediately will file
the plat and proceed to asslg" add,.... to the Iota identified In the plat and
authorize the illuanee of building permits for the con8trudlon of relldences on
the iota, subject to compliance with appli*1e technical construdton codes and
proced",,.. con~ming the lsauanee of conltruction permits. The City
acknowledgee that Developer intends to defer the construction of public
Improvements until the con8truction of the apartment complex. The City will not
be required in any event ~ lsiue a certificate of occupancy for a facility until the
public Improvements .nd all required utilities and other infrastructure
improvements on the lot have ~ completed. Developer shaH be required to
nave all public and Infrastructure improvements conatructed In the subdivision
within two (2) yeara from the date of this Agreement.
18. Thia Agrwment shall be executed in triplicate, all original copies of which shall
be oonsldered one instrum~. When an ,original copies have been executed by
the City, and at I_t two origi..1 copies have been executed by the Developer,
this Agreement lhall become effective and binding upon and shaH Inure to the
benefits of the parties and their respeCtive heirs, succeasors and lIIigna.
. 2005.
08f8rment AgIHIMnt - 88ge Prapwtiet
P8ge4of5
THE STATE OF TEXAS 8
5
COUNTY OF NUeCES ~
/' l c:. fh
Th' instrument was acknowledged before me on ' '1 C. _ J I 2005. by
J P. Chlrp,uist:-f're8idllNlt or Sage Properties
'-'rf I v 12U
ry Public. State of Texas ()
TERESA M. GARZA
MY COMMISSION EXPIRES
JUIlI17, 2OlI8
CITY OF CORPUS CHRISTI
p, 0, Box 9277
Corpus Christi, Tex. 78469
Telephone: (381) 880-3500
Facsimile: (361) 880-3501
AlTEST~_ .
By: f /
Annando Chapa "
City Secretary
By:
k
City Manager
APPROVED AS TO FORM: This (( day of ftc.-- ,,~ . 2005.
Ik ~ ,4.-..
M'iiij K. Fisch r, City Attorney
THE STATE OF TEXAS I
S
COUNTY OF NUECES I , J.
, ') ,0-- }..n ll. /l. }'.. _
T~ instrument was acknowledged .before me on the ~ day of ~~5,
by ~, K. Noe, C nag" Ir, for the City Of Corpus Christi, a Texas municipal
corp~on, on beh the.c-prporation.
" 'Ju~
Texas
,I ,.l'V P = Deferment AgIHment - s.ge Propertiea
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BAY VISTA APARTMENTS
CORPUS CHRISTI, TEXAS
JOB NO, 39657.00.00
DEC. 2005 RCU/kp
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BAY VISTA APARTMENTS
CORPUS CHRISTI, TEXAS
JOB NO. 39657.00.00
DEC. 2005 RCU/kp
PROBABLE COST ESTIMATE FOR PRELIMINARY LAYOUT
PROJECT: Bay Vista Acartments DATE: 12/15/05
i- JOB NO. 39657.00.00
,Item Descri otion puantity + 50;' Unit Unit Price Total Amount
A. Public Improvements
1 4' Diameter Man Hole (5'-8'Deep) (Sanitary) 1 EA $3,500.00 $3,500.00
2 Connect to and Rehabilitate Existinq Man Hole 1 EA $4,000.00 $4000.00
! 3 Tyoe B Man Hole (Storm) 1 EA $3000.00 $3 000.00
! 4 Slot Inlet 4 EA $1 600.00 $6 400.00
-
5 Grate Inlet - 2 EA $1 200.00 $2 400.00
6 ReconstructToo Of Inlet 4 EA $480.00 $1 920.00
! 7 TaD Existinq Inlet At Flow Line 1 EA $500.00 $500.00
8 6" PVCIC-90Q) 37 LF $25.00 $925.00
, 9 18" RCP 20 LF $33.00 $660.00
10 15" RCP 8 LF $30.00 $240.00
11 Pavement Reoair 27 SY $70.00 $1 890.00
12 6" L Curb 1483 LF $12.00 $17 796.00
13 Pavement Reoair at Curb 330 SY $51.50 $16995.00
14 5' Sidewalk 7415 SF $3.75 $27,806.25
15 1-1/2" HMAC Inc. Prime Coat 80 SY $8.50 $680.00
16 6" Lime Stone Base 80 SY $8.25 $660.00
17 8" Lime Stabilized SubQrade 80 SY $7.50 $600.00
i 18 Traffic Control 1 LS $600.00 $600.00
i Construction Cost SubTotal $90,572.25
I Engineering Fee @ 7.5% $6,792.92
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I Total Cost $97,365.17
,
I - $107,101.69
Total Cost +10%
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EXHIBIT 3:
=-::: 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 provide the following information. Every question must be answered If the question is not applicable, answer
with "NA"
FIRM NAME:
STREET:
Saae Properties
6303 Beverlv Hill CITY:
Houston, TX
ZIP:
77057
FIRM is:
Corporation []
5 Other 0
2. Partnership 0
3. Sole Owner 0
4. Association 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".
Name N/A Job Title and City Department (if known)
2. State the names of each "official" of the City of Corpus Christi having an "ownership interest"
constituting 3% or more of the ownership in the above named "firm".
Name N/ A Title
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",
Name N/A Board, Commission or Committee
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".
Name N/A Consultant
CERTIFICA TE
I certify that all information provided is true and correct as of the date of this statement, that I have not knowingly
withheld disclosure of any information requested; and that supplemental statements will be promptly submitted to the
City of Corpus Christi, Texas as changes occur
Certifying Person:
..Ja~. Charnauist
, peo.r~
' .'1 '~ I .
"~lll
Signature of Certifying Person: i . i ,~i
/ '
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Title: President Saae Prooerties
Date:1.tt.--k G... ~ (;0 \..
.-
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EXHIBIT 4
DEFINITIONS
a.'Board Member". A member of any board, commission or committee appointed by the City Council of the City of
Corpus Christi, Texas
b 'Employee' Any person employed by the City of Corpus Christi, Texas, either on a full or part time basis, but
not as an independent contractor.
c'Firm". Any entity operated for economic gain, whether professional, industrial or commercial and whether
established to produce or deal with a product or service, including but not limited to, entities operated in the form
of sole proprietorship, as self-employed person, partnership, corporation, joint stock company, joint venture,
receivership or trust and entities which, for purposes of taxation, are treated as non-profit organizations.
d 'Official' The Mayor, members of the City Council, City Manager, Deputy City Manager, Assistant City
Managers, Department and Division Heads and Municipal Court Judges of the City of Corpus Christi, Texas.
e 'Ownership Interest" Legal or equitable interest, whether actually or constructively held, in a firm, including
when such interest is held through an agent, trust, estate or holding entity. "Constructively held" refers to holding
or control established through voting trusts, proxies or special terms of venture or partnership agreements.
Consultant" Any person or firm, such as engineers and architects, hired by the City of Corpus Christi for the
purpose of professional consultation and recommendation