HomeMy WebLinkAboutC2006-175 - 5/9/2006 - 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
Porto Villageo NO.1, LTD., a Texas Limited Partnership (hereinafter "Developer").
WHEREAS, Developer In compliance with the City's Platting Ordinance, has filed a plat
to develop a tract of land Porto Villageo (herein called "Development");
WHEREAS, the plat of Porto Villageo, (Exhibit 1), approved by the Planning
Commission on December 14, 2005 provides for the construction street pavement,
curb, gutter and sidewalks 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, public
improvements, including construction of street pavement, curb, gutter and sidewalks,
Exhibit 2, prior to the time the above said plat of the Development is filed for record;
WHEREAS, Developer agrees to construct on-site infrastructure and related site
improvements in accordance with the City approved construction plans and
specifications;
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 will deposit the sum of Three-Hundred Seventy-two
Thousand, Seven-Hundred Sixty-two and 70/100 Dollars ($372,762.70), 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 including,
construction of storm water lines, 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 Subparagraph 3. (b) of the Platting Ordinance.
2006-175
05/09/06
1\;12006-140
Porto \iIlageo '\0
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%) 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, curb, gutter and sidewalks as shown in
Exhibit 2, (hereinafter "deferred improvements"), for up to one (1) year from the
date this Deferment Agreement is approved.
2 The Developer agrees to deposit Three-Hundred Seventy-two Thousand, Seven-
Hundred Sixty-two and 70/100 Dollars ($372,762.70) check, with the CITY OF
CORPUS CHRISTI, which is 110% of the estimated cost of constructing the
required improvements, as shown on Exhibit 3, which is attached an
Incorporated into this Agreement. Said check, shall be deposited with the City of
Corpus Christi before the beginning of the City Council meeting to be held on
May 9, 2006. Failure of Developer to deposit said check as set forth herein shall
make thiS Agreement null and void. A copy of the check is attached and
Incorporated as Exhibit 4.
3. The Developer agrees to construct the deferred improvements, including
construction of street pavement, curb, gutter and sidewalks public improvements,
In accordance with the City's engineering standards in effect at the time of
construction.
4. Upon completion of the deferred improvements by May 9, 2007, 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:
Porto Villaaeo No. 1. LTD.. a Texas Limited Partnership
703 Osuna Rd. NE
Suite 6
AlbuQuerQue. NM 87113
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.
5. If the deferred improvements have not been completed by May 9,2007, or if the
Developer fails to deposit any increased security as set out below, after notice to
the Developer and opportunity to cure as stated in Paragraph 7 below, the City
will withdraw and transfer the balance of the amounts received, including any
Interest earned, to the appropriate City fund and the City will then begin
Deferment Agreement cash version doc
completion of the deferred improvements 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 the City constructs all or any part
of the deferred improvements, the Developer agrees to reimburse the City for
any additional cost of the deferred improvements, if the sum of money and
interest prove inadequate to complete the deferred improvements, within thirty
(30) days after City completes the deferred improvements and bills the
Developer
6 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 the money received
by the City from the Developer, remaining on deposit, plus interest earned, will
be released and Immediately returned to the Developer.
7 If Developer defaults in any of its covenants or obligations under this Deferment
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 deferred 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.
8. 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
9. The Developer covenants to construct the deferred improvements, and that such
covenant shall be a covenant running with the land.
10. The City's Director of Engineering Services, at Developer's expense, shall file of
record this Deferment Agreement in the records of Nueces County.
11. No party may assign this Deferment Agreement or any rights hereunder with the
prior written approval of the other parties.
12. 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
Defermenl Agreement cash versior, doc
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.
13. 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
14. 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.
15. 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.
Deferment Agreement cash version doc
EXECUTED in triplicate this ;)811- day of Af/~I i.-
,
,2006.
o McCall
Porto Villageo No.1, LTD., a Texas Limited
Partnership
("Developer")
703 Osuna Rd. NE
Suite 6
Albuquerque, NM 87113
By: .
J1,~~ ~
#-.E\iL.J ,<<,B~I {!D
STATE OF TeXAS S
'BeR.1\lIt L..i U.c S
COUNTY OF-NUECES S
This instrument was acknowledged before me on the dgrt- day of A .p I?-l ~ ,
2006, by D. m~elt L-L. , in the capacity herein stated and as the act and
deed of said entity.
. lJFlCIAl SEAL
. .. 1WI 'fOUNQlkOm
. ............Of_~
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Defermenl_Ag reemenl_cash _ versi0'1[2]
CITY OF CORPUS CHRISTI ("City")
P.O Box 9277
Corpus Christi, Texas 78469
Telephone: (361) 880-3500
Facsimile: (361) 880-3501
ATTEST _
. ',: .. ..--' ,/".... .'~'
By: ARM{~--
City Secretary
By:
~
GEORGE K, NOE
City Manager
THE STATE OF TEXAS
COR
I JL
nt w7S acknowledged before me on the / Y day of
, 2006, by GEORGE K. NOE, City Manry,er for the CITY OF
TI, ,I ...tp-V"~ ._uni,c,_~_ClI_corpor,atiP,n, on beha. f said corporation,
j> _ i.~' "'.'"'' p".,~ IJJll, J . I . ~
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L~o,~"c~e"[),,, dice N TARY PUBLIC STATE OF TEXAS
---~_.:-:.'':;':-~-:::;;'-~.~ --.::~-:.:;.;~ '
s
s
s
COUNTY OF NUECES
This'
APPROVED AS TO FORM: This ~Hi _ day of
By: Gaifg~~II.; )mdi. -----
Assistant City Attorney
/) }tL \.j
!
,2006,
For the City Attorney
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Deferment_ Agreement_cash _ version[2]
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.' EXHIBIT
2
Eng_ Jim Urban
By: DOH
EXHIBIT A
DERFERMENT ESTIMATE
FOR
PAVING IMPROVEMENTS
PORTO VllLAGEO
Feb. 3, 2006
Job No. 40002.00.03
"
.+
108/..
UNlT
PRlCE
TOTAL COS
JTEM i DESCRIPTION
A. PAVING JMAlOVI:MENTS
- -,--~---t"'._-_._~
i .1 liS" HMAC Including Prime Coat______
. _: 6" Soil Cemen~~!2" Crushed S::oncrete
, i6"'L'Curb
- ..---- -""---~-'-- -
4 14' Concrete Sidewalk
<. IPavemeDt Repair (2' Wide-:Pa~ingTie)
f, \24")(60' RCP Entrance Culvert-----
--..,....-~"'_.- ----,-_._..~._- ---
QUAN. !
~~9271~__-- 8720 I SY _~
9,472\ 1O,4]9ISY
_4-,~__u 5.101 ILF
~'().050 i 22,055 I, SF
-~ 1 '_- 1 I LS
l' 1 ILS
,
9.00
9.00
15.00 -
4.00
1,170.00
~,600.00
$78,480.00
$93,771.00
$76,5]5.00
$88,220.00
$1,]70.00
$8,600.00
;
_ 4-_
I
$346,756.00
--;-
7.5%: $26,006.70
_ TOTAL ESTIMATED DEFERMENT: $372,762.70
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Urban Engineering
2725 Swantner
Corpus Christi, Texas 78404
1-361-854-3101
RXHTBIT 3
.-.~~"~.",-.,~._."-,,..,,,~....,....-..-..-.---.-...._., ~_..--~,~=-~_.,.,.-_..<..,--<.,. ~
1007
'Date ~/f)~
Pay to the /J fr.r.J ::- A,.n ~" /I" // J-c7'" . $, IAn' ,'.
. ClTderoj L-" 7 01 (-~v.s GI'{~;..,$)I II 'it:li/!J,~[1.g~.
I ~/l.eE 1IL7J.)lJfJ.€o ~rYlt4 f.tto~~~IJEvll~ ~ttt:.I{t'f"~
! ~,~ Frost National Bank
I "it.~ ~~:t::7"'l3_ ~t!"~
I 'Fo~~ ~~._- .-.-.-------------~
1 I: ~ ~ ~OO~~~_I: .00 7"''' ~OOO 5 ~ ~ 211-
CCla'"'''~l1'''
PORTO VILLAGEO NO 1 LTD
15305 TORTUGA COURT
CORPUS CHRISTI. TX 78418
3IHl1H 40
94
~WORG
~
EXHIBIT .4
r.~
l;'1
CITY OF CORPUS CHRISTI
DISCLOSURE OF INTERESTS
City of Corpus Christl Ordmance 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
Porto VillaQeo No 1. LTD., a Texas Limited Partnership
703 Osuna Rd NE Suite 6
CITY: Albuquerque
ZIP:
87113
FIRM is: 1. Corporation____ __ 2 Partnership X______ 3. Sole Owner
5. Other
4. Association _
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 "finn".
Name Job Title and City Department (if known)
NONE
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 "finn".
Name Title
NONE
3. State the names of each "board member" of the City of Corpus Christi having an "ownership interest"
cOIIStituting 3% or more of the ownership in the above named "finn".
Name Board. Commission or Committee
NONE
4. St_ 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 "finn".
Name Consultant
NONE
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
D McCall
Title: Partner
(Type or Print)
Signature of Certifying Person__
~~.~~c~
Date:
,}- ;; -o~
Exhibit 5