HomeMy WebLinkAboutC2006-132 - 4/11/2006 - Approved
DEFERMENT AGREEMENT
STATE OF TEXAS ~
~
COUNTY OF NUECES ~
This Agreement is entered into between the City of Corpus Christi, a Texas home rule
municipality, 1201 Leopard Street, Corpus Christi , Texas 78401 (hereinafter "City") and
Mostaghasi Investment Trust, 6333 Queen Jane Street, Corpus Christi, Texas 78414,
(hereinafter "Developer"),
WHEREAS, Developer In compliance with the City's Platting Ordinance, has filed a plat
to develop a tract of land "Cimarron Estates" (herein called "Development");
WHEREAS, the plat of Cimarron Estates, Exhibit 1, approved by the Planning
Commission on February 23, 2005 provides for the construction of one half of
Dunbarton Oak Drive and one-half of a 72-inch storm sewer public improvements;
WHEREAS, the Platting Ordinance, Section III, Paragraph H, Subparagraph 5, requires
Developer to construct seventy-five percent (75%) of the required on-site and off-site,
public improvements, Including construction of street pavement and storm sewer,
Exhibit 2, prior to the time that the above said plat of the Development is filed for
record.
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
improvements required by Section III, Paragraph H, Subparagraph 5, of the Platting
Ordinance;
WHEREAS, the Developer has deposited the sum of Eighty-three Thousand Two
Hundred-fifty and 49/100 ($83,250.49) check, which is 110% of the estimated cost of
constructing the deferred improvements, as shown on the costs estimate, which is
attached hereto and incorporated herein as Exhibit 3, with the CITY OF CORPUS
CHRISTI
WHEREAS, the City Attorney and Director of Finance have approved this transaction;
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 IV-Required Improvements, Subsection A.12.(c) of the Platting Ordinance.
NOW, THEREFORE. the City and Developer agree as follows:
2006-132
04/11/06
\12006-105
'VI()sta~hasi Investment ('rust
1. The City agrees to waive the requirement that required improvements be
seventy-five percent (75%) complete 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 improvements, including
construction of the of street pavement and storm sewer, as shown in Exhibit 2,
(hereinafter "deferred improvements"), until the City causes said improvements to
be constructed as a portion of an overall plan.
2. The Developer has deposited Eighty-three Thousand Two Hundred-fifty and
49/100 ($83,250.49) check, Exhibit 4, with the City of Corpus Christi, which is
110% of the estimated cost of constructing the deferred improvements, which is
attached and Incorporated into this agreement.
3 The principal amount of Eighty-three Thousand Two Hundred-fifty and 49/100
($83,250.49)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 City of
Corpus Christi solely for the construction of the deferred improvements
hereunder. Such funds shall not be used for any other purpose whatsoever.
4. The City agrees the sum of Eighty-three Thousand Two Hundred-fifty and 49/100
($83,250.49) cash, or 110% of the estimated cost of the deferred improvements
has been received by the City, and that the City's Director of Engineering
Services shall issue a "Final Letter of Acceptance" for Cimarron Estates to the
Developer once all other subdivision requirements have been approved and
accepted by the City of Corpus Christi.
Mostaahasi Investment Trust
6333 Queen Jane Street
Corpus Christi, Texas 78414
5. The City's Director of Engineering Services, at Developer's expense, shall file of
record this Deferment Agreement in the records of Nueces County.
6. No party may assign this Deferment Agreement or any rights hereunder with the
prior written approval of the other parties.
7. 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.
8. This Agreement shall be construed under and in accordance with the laws of the
State of Texas. All obligations of the parties created hereunder are performable
In Nueces County, Texas. Any and_all lawsuits pursuant hereto shall be brought
In Nueces County, Texas.
9 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 as Exhibit 5.
10. 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 "'1"M day of ~c..-
,2006.
George Mostaghasi
Mostaghasi Investment Trust
{"Developer"}
6333 Queen Jane Street
Corpus Christi, Texas 78414
STATE OF TEXAS S
S
COUNTY OF NUECES S
This instrument was acknowledged before me on the ~ day of ~'- ,
2006, b~ruA" ~~t!l\ . ,in the capacity herein stated and as the act and
deed of said entity
~--\ d---
Deferment AgreeLt final.doc t
N~UBLlC~ OF TEXAS
~"'tc.~e, ~127~.
CITY OF CORPUS CHRISTI ("City")
P. O. Box 9277
Corpus Christi, Texas 78469
Telephone: (361) 880-3500
Facsimile: (361) 880-3501
ATTEST '\
/
By: /~~
ARMANDO CHAPA
City Secretary
By: ~- ~
Gi4~OE
City Manager
THE STATE OF TEXAS S
S
COUNTY OF NUECES S
This ins ment .. s acknowledged before me on the J -rn'day of
f ,2006, by GEORGE K. NOE, City Manager for tHe CITY OF
CORP S RISTI, a Texas municipal cor i ,on behalf 0 d c poration.
rron
NOTARY PUBLIC, STATE OF TE S
APP 'A
By: iihc ~.J. ~)J! . Itf._
Gary' mlth
Assistant City Attorney
IS _~~_ day of Api I I
,2006.
For the City Attorney
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CL DUNBARTON OAK DRIVE
(40' BB FUTURE STREET)
FUTURE 60' DUNBAR TON OAK DRIVE
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LL._?"_ - C1MARRON ESTATES
STREET ~ND STORM SEWE~
DErERMENT AGREEMENT
, =- 100
BASS AND WELSH ENGINE! RING
CORPUS CHRISTI, TX
COMP_ NO EXB-STR- 5TO JWG
JOB NO D403B
SCALE '~ 100'
PLOT SCALE SAt.lE
PLOT DATE 2/15/06
SHEn
EXHIBIT 2
COST ESTIMATE
ClMARRON ESTATES
DEFERRED CONSTRUCTION
ITEM'
STREET ITEMS
2 HMAC
^-.--__ __'0'" ,__,~. ,___ .~___ ~"____.._
EXCAVATION
8" CALICHE BASI:
4 8" LIME STABILIZED SUBGRADE TO ]' Be
(> 4 THICK REINFORCED CONCRETE WALK
6' CURB & GUTTER
--.----+. -.--.----
-.....---. -'-"-'~"-'~' '- ~--'-' ._~.._, ....-
QUANTITY UNIT UNIT PRICE AMOUNT
,
h_1 1180 SY $8.50 10,030.00
-
I LS 2,450.00 2,450.00
... ..
1180 SY 8.50 10,030.00
-.
740 SY 3.75 2,775.00
-
2257 SF 2.80 6,319.60
.- ,....
I :;:;5 '- LF 10.50 5,827.50
1---.--
+---- SUB- TOT AL STREET ITEMS $37,432.10
I -,,-.-...-
~ -- f-.--.
QUANTITY UNIT UNIT PRICE AMOUNT
I --- 1--.-
~ 157 LF $200.00 $31,400.00
--
157 LF 10.00 $1,570.00
..
SUB- TOTAL STORM SEWER ITEMS $32,970.00
..
-
SUB-TOTAL $70,402.10
,.
75% ENGINEERING $5,280.16
...
... -.---...- f------- SUB-TOTAL $75,682.26
+-
! ] 0% ADDITIONAL (CITY ORD. $7,568.23
,
,
nl ---.-......".
! TOTAL DEFERMENT $83,250.49
I
---I ..-.---.
~.-I-_t---
DESCRIPTION
.---_.._-.--_._-,...>~.._._---
-"'...>..._.~._- .-,,"_.._. -. "-"'-"-,~,,-,,"
----+-- ,'-_.._. - ----.-.- --.------..- --""-<
ITEM' DESCRIPTION
"- --..--- --..---
STORM SEWER ITEMS
172" RCP INCLUDING ALSO BACKFILL
ICRUSHED SlONE EMBEDMENT FOR ~2" R(
----t
-.. -.--+ - ------ - .~- -- '. -.
._-+~
._, -------t-...-
---+
---.. ---t.- ---- - - --. ----__
--t-oo ____. __ _____. __ _.
-"-'-~- -"'-. .~_.. .,~ '--- _.~-
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--,~ _. --'-____"'._"_L'.' ___________
EXHIBIT 3
~
~ ~26
~ SUN-GEORGE CONTRACTING 1149
:1 ,802 BROCKHAMPTON PH 361-765-4422 0034000034 r
i CORPUS CHRISTI TX ~8414 DATE I.j-c;; () b
.~;... '..'..~i': ';;'4/1-t;-P -! ~~ !/~~~" ;rrfq $ :g33DOr!,._~~.
'l~ Y4~./4~~m.;.4.- J~(;}YARS 61 __
i~' ~
~..~ ~FlRSTNATIONALBANK ~ .
11' ,-V..Iam:vmlIIt:Amlll611_ Il6J_ZlS~' ^ .
1_ -V- amcYRBvn 0611 8N181 .
;.
~l 'iEM\'c~~eO~_. .
!l I:.. ~ g 2 . ~ . 5 I: 5 B ? g II- 0 0 j ~ 0 000
"
b:...,~~ _~_~~_ _~_.."" ~_~ ~_
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~ ~
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~.~-
-
5879
AI'
~
EXHIBIT 4
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y/
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 "NAn.
FIRM NAME' .~E:rO.~~~.. HOS"T.~I+.s...i.... . ............ ................................................................
STREET: ...'.33J ..4)LJes~..J.6..tJ.e. . S.1....
Corporation '.:::J 2 Partnership 0
FIRM is:
CITY: .~Q.~~.~~\...~~~'.~.r.L........ ZIP: J.'..J.~.......
3 Sole Owner 0 4. Association 0
E )ther 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 .Job Title and City Department (if known)
"N' ..........
.. VA......
.................................................................
<.. .............................................................
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 Title
N/A'"
.................................................................
. .................................................................
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 Board, Commission or Committee
'N/A
.................................................................
.,..............................................................
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 Consultant
"74
CERTIFICATE
................................................................
................................................................
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, Te s as changes occur.
Title: ..OW.~............. ......... ........ ..............
.. .I./-."...~.~..,....... ....... ..... ...... ....
Date:
Certifying Person .
Signature of Certifying Person
EXHIBIT 5