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HomeMy WebLinkAboutC2007-187 - 6/19/2007 - ApprovedFIR~T AMENDMENT T~ INFRA~TRU~TURE I~~'~EI~~Pl1~EN'~ AG~E~ME~T ~tate af T~xas ~ount~ of Nuece~ ~he~reas, ~.~.~'. ~avigat~on-~ar~eron, ~,~, a Te~as ~i~nit~d p~rtner~hip ~th~ "Partnersh~p"}, and ~h~ ~~~y of ~orpu~ ~hri~ti, Texa~, a Texas ham~-1'l~l~ ~U~~~1~7~II~~, ~the "~ity"}, e~tered into an Infra~~ructure De~elopm~nt Agr~ement ef`f~ective Augu~t ~ 5, 2~~~ ~the ``A~re~~rleilt"} ~ ~~1~~"~~5~ ~~1~ ~~`~~I77~~t~ ~`~~~t~S ~0 t~1~ ~OI~StI'L~C~1~~10~ ~ ~OI~1Q~1 D~ ~~~~5 ~~1V~ ~"~~~~~~ ~~ th~ can~truc~i~~ of ~ rrlultifa~ni~y ho~~ing ~ro~e~t t~ be l~no~n as Navigation Pointe ~the "Proper~"}, ~~ereas, the Agr~~men~ provi~e~ for ~he waiver af the e~cro~r require~nent r~late~ ~o ~~e Ba~es Drive Impraveme~ts ~a~ ~uch ter~ i~ defir~ed in the Agreemen~ and m~r~ particul~.~l~ de~~ribed ~n ~xhib~t B thereto} in s~bs~~tu~ion fa~ an rrrevocabl~ ~igl~t d~ ~ft ~ette~ o~ credit ~tk~e "~-etter of ~redit"~ ~.n~ t~~ C~~.St~~G~iOn ~fth~ B~t~S ~~iv~ ~rr~proven~ent~; ~herea~, the Partne~~hip d~sire~ to avoid ~o~t~n~ o~ t~~ Le~ter of ~r~~it and ~~n~truction of the Ba~~~ Dri~e Irr~proven~er~t~ and in~tea~ de~ire~ to pay to the C~~~ ~he agree~ an~oun~ far the can~tru~tian af the ~ate~ Dr~~e Irr~pro~ement~ f~r the ~ity to use ~~r th~ ~anstructi~n ~f such t~prav~r~ent~; and ~hereas, ~h~ ~~~ Df ~h~ Agr~~rrl~nt ~~~ ~~~~1 ~x~~n~~~ tv~~C~ ~T]~ iS 5ti~~ iri f~~C~ ~t~~ eff~ctive a~ of the ~ate of ~his fi~~t amendrr~ent the~et~ ~~he "Amendm~n~"~. ~o~, T`herefor~, the Part~er~hip a~nd fhe ~1t~ ~gree ~o ~n~en~ ~n~ ~o a~nend t~e f~llo~~ng se~t~on~ of ~he Agreement to read as ~ol~~v~rs ~~ext und~rlrned and ~truck through ~~re~n shal~ be inserted to and deleted frorr~ th~ t~xt ~f the Agree~ent acca~~in~~y}: ~ . A~~~~h~I~NT`S ~F THE PAR'T~IER~~IP, ~or~ditio~~ ~et forth herein, th~ P~r~ne~~h~p agree~ a~ fall~~~: Sub~e~t to t~e term~ and ~a} It ~rill ~a~ to ~it~, ~i~h~n 4~ ~a~~ ~-om t~e date of exe~uti~n of th~~ Arr~endrr~ent, ~h.e ~um of $3~~,547,~4 to ~e u~~d b~r ~it~ to const~uc~ th~ ~ate~ D~ive ~~~ro~emenx~ pertai~ing t~ tha~ p~rti~n of th~ Land ul~~~a~el~ platte~ to facilita~~ ~e~elopment _of the Pro~ert~ Su~h p~~m~nt. ~h~~l f~~l~ a~~ cor~~letel, sy ati~f~ an~r a~~ a11 obli~ations the Partner~hip has to the ~it~ ~o pay f~r ~ndlor in_ ~ny ~vay ensure the ~~mpletion of t~e Bate~ ~ri~e Impra~e~nen~~. ~~~e-~c~t~ • ~ • r + ~ ~ Y f f ~ ~ ~ ~ ~ { ~ ~ ! ~ ~ • ~ • ~~~~~~ ~~ ~1.RF ~ ~~~~ M~~~7-1~~ Exi~ibit E ~.~.T. Navi~atron-~~meron ~~~ + 1 ~ • ~ ~ ~ • ~ + ~ ~ r ~ ~ ~ ~ ~ • ~ ~ 3. ~~ND~TI~NS T~ T~~ PAR~'~~RSHIP'S ~BLI~ATI~N~. ~'he Par~~~r~hip~s abZig~~~on ta ~~~~1~ B~~~~ ~~1V~ 1YIlp1'~~~~1'1~I1~~ ~1~~'~~~1~~~' 1S subj~ct ~a ~ati~faction of the fol~o~v~r~g con~ditior~~: ~a} ~'he Plat i~ approve~ and re~orded, ~n f~rm ar~d ~ontent a~~eptab~e ~o the Par~ner~hip, pri~r to ~he ~a~tner~~ip~5 ~~C~U~~1t1~I~ Q~ t~~ L~~l~; ~b} ~`he Partner~hip acqu~res th~ I.~nd; a~d ~c} The Partner~h~p clo~~s a~d fur~ds a car~~~ruction loar~, t~he praceeds of ~hich are ~~ be u~~d for ~he c~n~tructi~n of t~e Pr~pert~. 4. ~~~DrTI~~~ ~'~ ~I~Y'~ ~BLI~~IT~~N~. ~it~~~ 0~~~~~~10I] ~0 ~~1~~ the plat~~ng requirern~nt th~~ funds be escra~ed to secur~ the constructton af th~ B~~es D~C1~~ 1I~1~~C~V~IC1~17~51~ ~11~~~C~ ~Q ~~~1~~~Ct1~~7 D~ t~l~ ~~1~~1~1~1~ C~~1~1~1~~15: ~a} Th~ ~lat i~ ap~r~ved ~nd recor~e~; and ~~} ~it~ receiv~s t~e ~ur~ of $~~~ 547.34 f~arr~ Partner~hi fo~ ~he .. c~n~truc~i~n of ~he Bate~ Drive ~r~ ro~e~ents . ~. MI~~~~~ANEOUS, ~ ~ ~ ~c} T~IS A~'~~~17~I~~ ~1~~ ~~ ~~II11117~t~~ 1~ ~~1~ P~I~~I~~'S~ll~ ~llC~ ~~~~ Sl~] ~ IY]~~Ll~~ ~DII~~~It ~Q t~~'t~11I~~~~ ~~11~ ~~'~~171EI1~, ~~~~~~~~''~' . . , . ~1~ + , ~ ~r F ~ L.rV VV, t~pan te~mir~ati~n of th~~ Agreen~ent, neither p~rt~ ~h~.~l h~~e any ~n~o~r~g ~bli~atio~~ ta the ot~er ~ith re~pect t~ pexforman~e ur~der ~his Agr~en~~n~, except that eith~r ~ar~y ma~ be ltab~e to the othez for ~a~ag~s a~~a~iated ~~~h a~reach af ~his Agreet~ent, ~ ~ * Al~ o~h~r term~, ca~di~~or~~, c~~~~aan~s a~d a~lig~tians, n~t ainer~~~~ h~reb~, ret~~ir~ in ful~ fo~ce ar~~ effect. An~ terrr~~ not def ~ned tn t~ai~ Ame~drrient shall ha~e ~he ~ae~.ning~ defin~d ir~ fihe A~,reet~en~. ~ffec~ive ~he __ a~ of , ~~~6. ~~gna~ure ~age ~ITY: T~~ ~tty of ~orpu~ ~hri~~i, '~ex.a~, a Te~a~ hon~e-rule rrlun~cipal~ty Atte~t; Armando ~h~pa, Cit~ ecreta~~ Ap~ro~ed: Ma~r ~, 2~0~ Ma~~ Ka~ Fis~her, City At~o~ey ~ ~~• ~ ~a ~r ~I~'. ~~nlth A~s~~tant City Attorney PAR~N~R~~IIP: ~y. 1./~l ~V ~• 1 j~~ j~~ L~ ~~~~~Vl ~ ~~ ~~~~~~~ ~ . ~~ ~~I~~~I. ,~ y ~~~ ~.~.T. Na~i~atio~~~ameron, I~P, ~ ~'~~~.5 lll~llt~~ ~~1~I1~~'~~ll~ B~: Il~~rce~-N~~i~ation, I~L~, ~ T~X~S ~11~11~~C~ ~1~~1~1t~ C~171~]~I1~1, it~ gen~ra] partner B~: N~er~ed Hou~ing Texa~, rt~ ~~le rr~et~~er B ~ ~~ ~'• N~m~: ~usan . ~ran 7`i~~e: Pre~~de~t ~~CH~~f~' ~ ' . . . F.ng~ I~~~ #~uds~n, P.~. ~R~#~#~I~NARl~ P~.A1T~hfC ~~ST E~T~MATE A~g. ~~, ~~~~ By~ C.R.R. F~R Jab N~~ ~?~O~.A~,01 B~I~ES ~R~IE A~JA~~N'~ ~"~ L.~~ ~ ~ B~.~Ci~ ~ N~II~~A~~N P~IN~ A~AR~~f~~~"~ ~~I ~~S~R~RT~~I~ ~UJ4~1. ~~1AN. + UNI'~ UNiT T~fiA~, ~~~~ ~~~~ ~~sr ~. w~a~~~~ ~~~~o~~~rs ~~ ~~a~s ~~v ~ ~r~ c~ ~o ~ ~~~~~ : ~ ~Rltil~ ~i~li ~~~ 1 Ri ~~ V~ •t~ VY~ ~~irV I.~i r,~ 1~~l~VViVV 1~ ilVYYrYM ~ Ro~dwa ~xcava~fon 5,~~7 ~,El~ ~Y $~'l~ $~~,31T.10 ~ ~" HMAC Inc~ud Pr~rrre ~o~# 3,~'l5 ~,~~3 ~Y $7.40 ~3a,73~.~0 4 8" Ce~t ~tabi~h~ C~I~c~ ~~se 3,~'~5 4,~53 ~Y ~10,60 $~4,~~a .8~ 5 $" ~~~ ~f~~ilized St~ de A,fi08 5,~~?GG~ ~~ $~.~0 ~~~,~76,~~ ~ ~"L` Cu~ 1,B7~ ~,~ LF ~1~.~~ ~~,~S~.~D T ~' C~nC~~e S~dewa~C T,S~ ~,~54 SF ~3~~~ ~~6,4~~.80 ~ ATE~ ~R~IIE PAVINC ~UB-T~~'A~.: $~59,8~D.T~ ~on~ end~s ~ 59~; $~3,97~. ~ ~ CRI~ID ~~TA~»; $~83,~T0.~1 D~1~L~P~~ ~~~R~V~ AM~UNI' S~~O1 - $9~,~~.4~ 8. ST ~~NI S~WER IMP~~~~M~NTS ~'~ BA`C~~ ~~~VE ~t~ Cas# ~ be es ~row~d : ~ ~5" ~~~ ~9~ ~5~ l.F $~3,~ ~iT,4~~,0~ ~ ~8" R~R 34~ ~80 lF $?~.~ $9,5~D,~~ 3 ~SHA ~r~c~ Protec~lon t,~~~ 1,~~~ I~~ ~~,~~ ~~,~.~ 4 5~ Slt~ in~ 4 ~ ~A $~,434,~~ ~~,?~0.~0 ~ 4' D~me~er Manh~l~ 2 ~ ~A ~2,D~~.~O ~4,~~.~ ~ ~8" ~tr~a~ ~tr~tr~ure 1 ~ F~ ~~,5~~.~~ $1,50D.~ ~~~~ ~ ~1 ^ ~ ~~~~ ~~ ~ i ~~ ~~~a~wl~~~ ~~ f ~i~~~ ~~r+~fVi^ Ai~YV ~~~1 ~~~~ ~ f~~Fi ~RAND T~~'AL: $4B,~TT,~2 D~II~L~PER ~! Il~~IJNT S~~O: ~~3,~8,8~ ~. 1NA 'T~~ II~PR(~11~M~~iTS; ~ ~M 1'~ ~~ ~~~~ ~~~~ W 1~ I~a~~ 1~~~~~y~ ~ ~~ ~if~V ~~~~ ~~ ~A ~ ~ ~ ~~~~~~ ~~~~~~e~ 3 ~~ r~ As~r~b ~om lete !~ fac~ 3 3~A ~~,8?.~.80 $~,475.Q0 4 8" ~ w~h ~" B~o-~ro~ V~v~ i 1 EA $~~ 5,~ ~~~ ~,00 1IIIAT ER aUB-T~TA~: $~~,3~~ ~~ ~r-#~n e~ ~~~6 ~,~08.85 ~~v~ ~~r~.~ ~,os~.~~ T~~A~ ESTIl~I~ED ~~PRC~V~~ENTS ~~5~~ D~V~1.Q~~R ~OR'~~N : ~1~1~3.~7 Urban ~n~~n~e~ing ~T~ Swan~-er C~~pus ~hr~ti+ T~'TB~4~~ ~•~~~-8~4-3~~1 ~ ~# ~