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HomeMy WebLinkAboutC2007-402 - 12/18/2007 - ApprovedDEFERMENT AGREEMENT STATE aF T~x~A a~JNTY ~~ N~~E ~ x _'~ This Agree rent is entered into between the pity of Corpu hriti, Texas, a Te~cas -~ home rule municipality, thereinafter "City"}and , , ~ foreign limited liability corporation authorized to da business in Texas, thereinafter "Developer"}, and pertains to deferral of the required completion of ce~taln improvements required prior to fling the final plat of #~ally Park} flack ~, Lots , and ~ {the ;`plat"}, which urns approved by the Planning Commission on September ~ ~, ~Oa7, ~ copy of tk~e plat is attached ar~d ~ncarporated a ~xh~b~t 1. V~IH~~~AS# the Developer is abliga#ed under section lll, Paragraph H, Subparagraph ~, afthe flatting ordinance to construct seventy~fve percent ~7°l~} of the required improver~ents, before the final plat is endorsed by the City's Developr~ent services I~ngineer~ Detail construction drawings rust be provided by the Developer and appraved by the Dity's Departr~ent of Developrnent services priar tv the stmt of construction; VIIH~~~~#S, the Developer is seeking to defer, far a period up to one year, the construction of the uvater and u~astewater improvements thereinafter the "deferred improvements"}, as shown in xhi~it , a required by the pity's Platting ardina~nce; IH~~~AS, the Developer is seeking to have the plat fled immediately with the County clerk of tVueces bounty, Texas, before cornpletior~ of seventy-five percent ~~5°l~~ of the required improvements as required by Section III, Paragraph Ft, Subparagraph ~, of the Platting ordinance; wH~R~A, the Developer gill deposit, uvith the pity of Carpus Christi, a letter of credit in the amount of iVinety~even Thousand Faur Hundred Ninety~~ne and B~I~aa Dollars ~~7,49 ~ .8}, representing ~ ~ a~lo of the estimated cost of constructing the deferred improvements, all as Shawn on the attached cast estimate, uvhich is attached and incorporated a ~xh'rbit ; 11VH~R~I~# the pity Attorney and Director of Finance have appraved 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 cornpleted; H~i~V, TI~ERE~~RE, for the consideration set forth hereinafter, the Cit~r and Developer agree as follows; t . The City shall uvaive tl~e requirement that the Developer provide operable water and seuver service a approved an the plat far each lot in the subdivision priar to ~~rr~i~~~~n of a deferment agreement t~ Council The City shall waive the 1~11$1~7 Pale ~ cf B Ex~ih~t F IVI~00'~-29 ~ for of , IV requirement that construction of the water and wastewater public irnprover~ent be completed before the final plat 'rs endorsed by the City's ~eveloprnent e~vices Engineer and filed for record with the bounty Dlerlc of lVuece County and further agrees to allow the Developer to defer construction of the water and wastewater public improvements as shown in ~~chibit ~, for up to one ~~ }year from the date of this I~eveloprr~ent Agreen~entf 2. The Developer shelf deposit, with the City of Corpus Dhristi, a letter of credit in the amount of Ninety even Thousand Four l-~undred Ninety~one end 6~~~ o~ Rollers ~7,~4g1,~8~ a shown in ~xhi~it ~4, before the Agreement is approved fey council, for ~ ~ ~°lo of the estir~ated cost of constructing the deferred improvements. Tf~e Reveloper shell construct the deferred improvements, in accordance Frith the pity's engineering standards in effect at the tine of construction. 4. l~pvn completion of the deferred improver~ents within one ~~} year from the date of this Agreement, or later time as maybe rr~utuafly agreed upon, in writing, by both parties, and upon acceptene of the deferred improvements lay the City Engineer and upon oompiiant;e by the leveloperwith the remaining terms of the Development Agreement, the Development enrice Engineer shall a~ lrr~r~ediately release Developer from the obligations to construct the deferred ir~provements lay mailing a Release letterta; } -3 "~~ ~~ Oo E. ~~`~ t~ lV., Bldg. ~ ~~ IJVichita, l~ansas 7~G-3 ~ ~. Return to the Developer within sixty ~~~~ days of the cor~pletion of the construction of the deferred irnprovernents and seftlernent of the construction oasts, any balance remaining of all r'nonies received lay the City from the Developer, including any interest earned ~. if the deferred improvements have not been completed within one ~~}year from the date of this Agreement, or if the Developer fails to deposit any increased security as sat out below, after notice to the Reveloper and opportunity to Wore as stated in paragraph 8 below, the pity gill transfer the m'~oney received, including any interest earned, to the appropriate City fund and the Dity may laegin completion of the construction of the deferred it~provements with any monies received from the Developer, bath principal and interest, rerr~ainin after completion of ~;onstruction lasing refunded by the Dity to the Reveloper. If City constructs all or any part of the required improvements, the Developer shall reimburse the City for any additional cost of the deferred irnprovem~ent, if the sum of money and interest prove inadequate to cvrnplete deferred improvements gage ~ of s within thirty (30) days after City completes the required improvements and bills the Developer. fi. The City and Developer agree that if the Developer formally vacates the current plat, with approval of the Planning Comr~ission, prior to the deadline far completion of the construction of the deferred improvements, any money received by the City from the Developer remaining on deposit, plus interest earned, gill be released and immediately returned to the Developer. ~. If Developer defaults inany of its covenants orobligations underthis Development Agreement, the City Engineer will send the Developer and the Project Engineer ~rritten notice by certified nail, return receipt requested, advising Develaper of the default and giving Developer thirty {~0}days from date of receipt of the letter to cure the default. If the Develaper fails to cure the default after receipt of the native and opportunity to cure, the Development Services Engineer may transfer any marries 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 frar~ the Develaper, plus interest earned, remaining after the City has cor~pleted construction of the deferred improvements, the excess monies, bath principal and interest, shall be refunded to the Develaper, uvithin sixty ~~} days of the completion of construction of the water and waste rater public improvements and settlement of construction contracts. 8. The City will not issue Certificate{s} of occupancy for this development until the r ~ deferred improvements are installed and accepted by the Director of Engineering .L ~~ Services Department. ~. The Develaper agrees that the City, after native 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. ~0. The Develaper covenants to construct the deferred improvements, and that this covenant shall be a covenant running vuith the land. ~ ~. The City's Development Services Engineer, at Developer's expense, shall file of record this Development Agreement in the Real Property records of Nuece County. 1~. No party nlay assign this Develapment Agreement or any rights under this Agreement r~rithaut the prior written approval of the other party. ~ 3. Unless otherwise stated herein, any notice required ar permitted to be given hereunder shall be in writing and may be given by personal delivery, by fax} ar 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 Page 3 of G above the signature of the party; Any party may, ~y notice to the other in accord r~ith the provisions ~~ this paragraph, specify ~ different address r addressee for notice p u ruses. ~4~ This Agreement shall be construed under and in accord pith the la~+ of the state of Texas and all obligations of the parties created hereunder are performable in Nueces bounty} Texas, and all la-~suits pursuant hereto shall be brought in Nuece Jaunty. 1 . The Developer further agrees, in compliance ~vith the pity of corpus Christi ordinance No~ 1 T~ 1 , to complete, as part ~ this Agreemen#, the Disclosure o~ ~rnerhip interests form attached to this Agreement as ~xhib~t a. ~ . Thin Agreeren# shall be executed in triplicate, all original copies of ~rhich shall be considered one instrument, vlJhen all original copies have been executed by the pity, and at least t~vo original copies have bean executed by the Developer, this Agreement shall become effective and binding upon and shall inure to the benefits of the parties and their respective hears, successors and assigns. gage 4 of 8 h f ,, i E~E~T~D in tripiite this " d~~ of ~ , ~0~~'. [ .~~ r of t- , ~ C. , - ~ ° ,... ~1 D4 ~~ fit. N., Bidg. ~ ~~~ 1JI~i~hita, Kansas ~~2fi~~1 ~ ~y~ D~niei M. arne~, danger THE STATE OF KANSAS § COUNTY OFSFa~.w~eK § This intrurnenf was ackno~rieded before me on , 200, bar Deniei M. erne, Manager ~f U ter, L.~.~, N~tery ~ubi' , tats of 1~ansas NAIV~Y,~ARU Notary P~rblic - state of ~($r~s~s ~y A,np#. ~x~ires ~S ~~ o Page ~ of ~ CITY of Co~PU CHRIT~ ~"ifiy"~ P~ . Box 9~7~' Carpus Chris#~, Texas X849 Telephone. {~ 1 } ~~O~~oD ~afl~llie: ~ ~ } ~~~-~~~ ATTEST: By: Armando Cha~a City Secretary By. Barge ~~ Noe City Manager AP~ROII~~ A T~ ~~~~ This ~~',,,,. day o~ ~~r,er , X007. t nary VII. mith, Assistant City Attorney For the City Attorney THE STATE QF TEXAS § OD'-~ ~..~ ~I~ ! NUI~~~ ~~ #J~{~f~ ..w..,~ .~„ ~~~~~I'~R-- C~L~h~TI~ of NUC~ This instrument was acknowledged be~are ~-~ on the ~ day of , X007, by evrge l~, Noe, City lUlanager, for the pity f Corpus Christi, ~ Texas municipal corporation, on behalf o~ the aarporation t, Notary Pubi~cr state ~f Texas Page ~ of ~~~~ ~~~ ~~ts ` ~' ~ '.*: • MY CO~MISS~ON ~(Pi~~S i~ . ~~t ~ ~~~# ~ ~~+~ ~~ f f;~ ~. Z rn~o ~~ ~~ ~~ ~n~ u~ tq} ~~t~ 2~Y i ~-~~ ~~ ~~a ~rar ~~'_~~ '~ aL G.. ~"m~ 3c~~ 6¢..~ ~ouJ _~Qy ~ Y~ ~ ~ q7 9 ~ ~~ ~ a ~~ ~r ~~P~~ ~~~erie n~ ~9 ~~~~ ~~~a C ~S~~u ~~a~ ~~ ~ l ~~ ' a~c~ ~+~ ui+ f ¢ f 4 = ¢ : 1 0~~ a C = ~ t~~v~ r ~' ~ ~ ~ i ~ ~zt ~ I ~~3`vs I r ] Cy ~ ,,,~_ t -h a~ ~~4 4 ~~a~ I q ~ oo.. a } ~~Y71- I qQ ;°'~a ~ ~ ~~ •+ L 4~ 4 ~ r .~ ~ mar Y b fil :}4 s ~ 3 ~ c} ~ 1 ~~ dn~ ~!! °9! ~ ~d 'b9 'ray aid ~l~N c '~ ~1 ~~~~~~ ~,~o~~o.s~s a I} U 0 O f 7 tl v D a r 3 t ~ i S ii I ~ I i I ~ ~ ,+ I t i ~~ ~ ~ ~~ ~ l ~~ - ~ 'u t ~ 7 , 1 C ~ ; P{j ~ Q ~~ `o jJ~ V ~ ~ ' ~ ~ F i ~- h '~ t: IflC2 ~~ ~~ ! ~ ~ x 7 ~ ~ I 3 ~ a~ a~ I I ° ~ r ,~ ~ 13.~ w O ICx a~ a~ ~+ Mir VrJ ~r ~ ll ~ ;~ ,I ~ ~~ ~~~ ~~ ~ i ~I~ i' ~;~ x ~' ~ ~,~ ~ ~ f1 ~ 7 ,b. ~ ~ I T ~ ~ ~ ~ ~ ~ '~ ~ ~. ~ ~ i ~' „~~ ~ ~3~ ~ ~ ~~ f ~~ ~ ~~ `' w ~ N i ~ f ;~ ~~ ~ UJ i ~ I ~ ~~ a x ~` 'T f i ' V 1 ~ ;' ~ ~ i E 4 ~~ r ,b ~$ J ; ' ~ i , ~ w9 ~' '~;-'" ~' .irfS r~5 r ~ (1Y.'F~01 3e01y JTi71~~ j ~y ~~ 3 aGo1K '9'~ '~d Y 7'a11 ~~ g } 1 ~ 5~~10] ,~ fff{~~ a ~ *'3J 7 ~ r } ~ ~ ~ .. ~ ~ ~ ~ ~~~ ~ lad ~~ ~ ~~ ~ ~ ~ ~ ~ j ~ III t o ~.]~.h~ w ~ ~ ~~ ~ ~ S r Q ~ ~ ~ ~ I t ~ 1~ i ~ 3 far ~ ~ ~~~ ll4g t'+ a~`. ~ . t w~.. ~ J F ~-; ~? ~ ~ r a1 ~~ ~~4 T p~a~r tflo;goy - - r -~ ~ - r .~.~ - I ,_ } c 0 C] c a ~ f 9 I I ~ 7~- O e ~ ~ k I } iJ a {I 1 I I v I I u4 ! ~ ~ ~~ I I `a I ~ ~ o I ~ S~ 8 (;j ~ T 1 4 ~~ p jzu M~ d ~~# y 04 I I ~ Vy ~ a b I ?u' ~_ ~~ 1 -a ~ r} ~~ j I ~ Q C ~ ~~~ ~k is i j _p ~ ~ r i1 r r 4 } O ~ ~ K ~ ~~ ;n r~ ~,~ rt '~ 0 ly c -- ,'I Q o !? 0 ~~ 4 n ~ t• ~ I ~ ~ ~ L +.] f I ~` r0~...{~ i ow'~ ~ x° ~ :, i I I i ~~~~x i ~9~d i- a ~ ' { =~ I I ~~~n ~ a Cj ~ a f ~c E '~ I 4 Q Z ~~m~~ ! 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Ida I~ ~ wI~UIG! ~ +t L ~ ~ o~ ~ J I Q ~4x ~ !~~ ~'~ f~ 3 V ~~ V ! v~ E ~ ~ ~ :N C ~ .~ C ~ id ~ i o r C !~ ~ ~~~ ~ ~~ ti E ~ ~ ' ~~ ~ #~~ ~ ~ ~ , I W~ p iVi ~~ ~~ ~ i~ # ~ !~ Q I ~~~~ ~ !rY 1 t ! j C ~ ~ ~ y ~ x ' ~~ ; • -' ~ i s ~ j 3 ~ ~ i ~ ~ /~s`cv 1 k/ }1 ~ { I .}F ~~ ~~~ ~ ~ G 3 , ~ p j; V~ I t U I ~4p ~~ I j x 0 •• ~+'~ ~ °u ~ I sxi rau ~~ SS~~ ! ~7 ~p~ ~ c ~ GyW4 9~r ~~ ` V j ~ ~ i D p; ~~~ f~ L~~ G 6 ~~ ~ Ia i I ~~ p y~ Sa 4 I ~ ~" H ~ ~ u ~C] a ~ 0 ~ ~ C t I tCC I I s~° . ¢ ~c rn~ u ~ , a v ~ { I i I I I I`~ IlgN f ~ D~ =I?CJ .~~0~ ~ ~-° ~ x~ u I _ ~ )4 °~ ~k = ~ V•-O • .Q ~ ~ ~" ~ G ~ rt+ Q_~ ~ 9 y ~ ~ f"~~L9 ~~OD .!~ ~+ ~~C C~i .~ ~ # ' ' ~ M ~` w o c = ~~ ~ '-~ ~ ~ ~~$~ ~ `o V'. ~ ~ ~, ~~~r~.? g ~ o r y more p} tyti ~.d •`~ '~ # j ~ L ~ Y ~ ~ ~ O u~l ~~ L Y a ~ 4 ~ ~ ~ ~~ ~ o '~ '~ ~ E ~ m tea` ra~~ rv ~ ~'~ ~ I ` ~$ ~D ~ ~ A 0'~! ~ ~ _ ~ y~Sl C ~r~M Lti '1~ r N « ~ d c "~I , '~ ii '~ rn ~ ~ u ~ C ~} v a ~ ~.~~a" 4 ~ ao ~y'A ~~o ~i +~ ~ m4 ~ ~~ as `a ~ G ~~ # p~'~r,CJ• J ~ g 0Gr ~ Yy ~ 4 ~ ~ t2 C ~ Q ~ ~ L # y ¢ y ~Si1 N ~ fD ~ O ~ ~_ ~ ~ ~ ~~ ~~ pj ~~ ~ ~ $z r3 Aa~y~a~ ~~ ~$~ v~ ° ~ a ti mar" ~ ''~ ~'~ ~ D ~• ~ '~' ~ J Ep '~ ~ 7f ~ ~ '~ n `'7 A y~q i} '~ O ?.~ }, ~ :0-- O: r 4 ~ tS ` `hr`w 0 y Q~ ~ 0 ~ ~~cW 4 O #=~ v~ L C7iN ~ ~ u rY ~ U .~ C wC~ ~ C ~ .41%- ~ .^~i } }j d a ,_ W 'Y~ x ~~ ~ ,0 Q ~ ~ ~ 4 L] Q _ O a ~ ~J f U #}'~ r h~ ~C~~ N- g~r~ ~y ~U.j V~ 8 ~ rA DG9 ~4 V { x 4 ~ ~~ ~ V'~~~ K +no hi ~~aa ~~" ~'} macs ~ lax~~ !I 4 9 p- u y ~~~~_ ~=p~~ r ~ L = ~ ~ 0 ~ f O s 4 ~ ~ U ] ~ _v D~ .. . p ~ x~a~ `"~°e:v u0c=r ~~ar~ ~r~ ~ I 3 ~ n - ~ }. t ~s~~~ j n s;-~~0~ 7 ~} - ~ i~i'~~~ ~ 1am0~ :3 3i~a' y M7 ~ p ~ .~ C ~ s J' 9 G ~ 7 ! ? ~y ~,~ i ..1 0 to yy ~ ~ ~ ~°~o ! J , „ ~ ~ ~ ~ ~ i 4 C ~ = ~ ~ ~ ? f ~ # - ~ ~ } '~ ~~ p ,e ~S i r 7 ~ J ] ~ ~ ~~ ,~ ~3~c~ ;. 1 ~.i A~ _a ~ • ~~~ iyr iJ. i ~7 , ~ Cb 9~?~'~~7 - ~~ O 1~ a ~ ~ ~~?~~~ ~ ~ 7 .7 C 7 S ~ ~ a ~ I ~ a ~ i ::~ v :1 I : a .~ fia„ I ~ I :s ~ _ + 4 ~~ I j 8 :~ ~- f ;Y 4 Q i . ,~ ]r ? +~: YJ ~ I~ m ~ :'s ,~ I b f.~ 2 i 1 E~h~bit 1 3 7 Page 1 ~f 1 k ~ ~ ~ ~ ~ ~ ~ ~~ '. r I ~~ _~ ! '~ ~ ~~ ~ 1~ ~ '~9 7~ i f~ ^` + ss ~F ~~ fl I ' ~~ ~~ ~ r ~~ ~'* fl ~ ~~all ~ -~1 ~ . ~~~. ~ ~~~ ~ . ~~ ~ -~~ 'ill w~i I ~! ~ • y: ~~ r ~I ~~ ~~ _ ~ ~ • ~- ~ ~ ~ : ~fl ~~~ y ~ ~ •~ ~ ~ r~~ ~~~ ~ ~ ~?~ ~ ~ ~ ~ ~ {~ ~~~ ~ _ 1 ~T` _.._,_._._,.:..~____.~....._ f ,~; ~~ ~ ~ ~ i ..,,~ . :,. r ... , . ll m .~ ~~ C~ ~ ~ ~ ~ '9 ~~7 ~~ ~~ ~ [~~J r ._ a. ~ ~Nll~l~d~l '~'~ .~ ~ ']~ ~ p~o~ ~Go~s~~{ ~xhi~~t 2 P~~e_ ~ of 2 ~ ~wao~ sr+N 1~ ~~ ~~ +L~ ~ ~91 ~ d 'l9 '-~il ~ d -1 ~ ~~ ~•~ ~~ ~,•~ ~n it E G ~i -~ ~, ~ ' '?~~ ~~ .1~ `~~ f ~ P. ~ ~ ~~ '~ ~~ 3: ~~ ~ ' ~I s _h ~I I ± ~4 1!1! I4 `~ ~I iJ .. ~~ ~~ ~~ ~. . ~~~ ~~ ~ ~ ~ ~~ :~ ~ :: ~+ .~ ~~ '~ ~~ ~` ~~ ~ ~ t:._ -i~ ~ ; ~~ _. ~: ! :x i f ~ E i ~ ~ 'III • ~ 1I S ~~ I: ~ ~ ~• ~, ~+ ' ~ .~ .,J ~. .J ~ ~'/ .! :111. ~ ~~ ~~~ ~ t ~s 's ~~ ~ ~ ~ t-'~ ~ t ~ '~ ' ~ ~ . ~ ,` ~~ II ~ ~ ~ ~ ~ ~: ~ ~ P~~f ~so~ J ~~ C] ~ ~_~ W~ ~~~ ~ ~ W,c ~~ W ~ .~ ~~~ J ~ .U ~~~ ~ a ~J~ ~~ C~ ~ H ~_ w Exhibit 2 Page 2 of 2 Eng: Murf Hudson, P.E. DEVELOPMENT AGREEMENT ESTIMATE CDR December 4, 20a7 By: DDR PUBLIC IMPROVEMENTS fob No. 4~~~~.ao.oa H~~.~Y PARi~, BL~i~ 1, L~~T ~,, AND 4 ITEM DESCRIPTIO~f JUAN. UNIT UNIT TOTAL PRICE COST A. VvATER IMPROVEMENTS; ~ ~'~ PVC ~c~~aa~ ~~~ LF ~~.aa ~~, ~ ~s.oo ~ 8" Gate Valve and Box ~ LF 85~.aa S55,aa 3 Fire Hydrant Asser~bl Co~plete In~Place 2 LF ~~,4aa.D0 $4,8~g~4i~ 4 8" ~ 45 degree Bend ~ LI= $4a.~~ $~SQ.aO 5 Tie t0 ExEStln $" waterl~r~e ~ EA $90.00 1,8ao.aa 11vATER SUB-TQTAL: ~4,Z51.aD B. SANITARY SEWER IMPROVEMENTS: ~ ~ ~" PVC ~5'~S' Cut} 844 LF 43.aa $3,2g2.0a ~ Embedment 844 LF ~6.2~ $5,~~.80 3 OHA Trench Protection I~44 Llr $1.00 $844.Da 4 4' D~ar~. MH {5'-8' deep} 3 EA 2,~4a.aa 8,8~O.aD 5 4' Diam. Drop MH ~5'-8' dee y 1 EA 3, ~ aa.aa 3, ~ 00, oa ~ Tie to Existing sewer line 1 EA 9aa.aa 9a4.a0 AIV ITARY SEWE R SUBTOTAL: $85,188.80 ~. ENCINEERINOIURVEYING FEEB: 1 Topography Sunray 1 LS $1,300.00 $1,300.Di~ 2 Infrastruc#ure Design 1 L 5,279.aa 5,~79.0a Construction Testing 1 L ~ , aD. as $1,300.00 4 Construction Staking 1 L ~~,aa.oo 1,3a0.aa ~NiNEERlN~BUR VEYIN lrlB-TOTAL: ~9.179.aa TOTAL ESTIMATED IMPROVEMENTS COSTS; $88,fi~8.90 TOTAL EaTIMATI=D IMPRDVEMENTS COSTS at 1 ~ 016: $97,491.G8 DEVELOPMENT AGREEMENT GRAND TDTAL: $97,491.88 Urban Engineering ~?25 Swantner Exhibit 3 Carus Christi, TX X8404 ~ ~~~,~~~-31 a1 Paa~ 1 of ~ zri~~izvu7 1 '54 I~AX 318 JSJ 5732 INTRIrST-Yncl. Banking ~j402 s~fa/~~~~~Qt _'~ I1~TR~ST B~„~ N.,~. IRREVQCABLE STANDBY LE.',~"rE::~i OF C~DCI' ~saain~ Bask: NUS` B~luiC, N.A. nteratational ~antci~rg Imo. 4S N. I~ArN ~ICN~A, ~ ~'~ late of ~sua: i xIU?~07 ~p~ian~: ~ S'rOR 4F CC+~~~Y~ ~i.G' 100 ~ ~D~rS 1 ~., ~~(I,JV~ ~ D ink: a~oa~t~ U~~ ~?,4~~~d8 ! w1TA, ~~Y OF CO~PU~ HRISTT ~.Dp.Br4~~ ~ ~+~*~ l ~ Q~r~ r'~J~ V ~ ~~ i i ~A R.7 ~7~76 - ~?~'N' ASST ~1 ~ IMF D~pM'1' ~~d~'A~~1~ble f ~ i#h l~oariRatad ~~: N'I`RUT SANK; ~ ~, nternational ~ tg ~~ N. ~A urcNrr~, ~~ ~~~~ fir: ~AYM' ~~:~ar: S;~b# ~~ # tea ~oen~~ eat Iled trerein and ~iar~"~ dt~~~~ ~U5"~ ~ar~;` IV.A. Wielli~. I~a~s Wa hereby cs~bl~ah our ltDC~ xrt~r o~~edn ~`"~rr~Y~e T,r ar['Cs~a~"~ I~ f~Yot Of thr .qty of Corp~rstr ~'fefreaary~} far tl~ ~c ~U ~tor of ~ifRt~f 1.1.rC, xcla~~ ~y ~d th il'~ O~C~t ~~'!e SIB ~"~,.4ten~r"'~, uudl~if~ifl~ ~cfeiary to d~'ai~'bA "RUSf~' ~~~~, N.~ lQ~ N. Darn itt, Wiciri~, KS ~7~1~ ~"~SSUa"~ [lte amount a~59'T,49r,b8 ~Ninery ~cvcn'~`Irox,d Fear ~urtd~~~ IVidcty Qne'a~6~1.l0O U5 11~ utrd 8enafciary'3 r ~ ~'F. ! bearing the ~IA~SC "awn ua~cr IN~'RUS~` !c 5. ~. . •.f ~,i ~,A. Irr~~oc~ra Lcttccr of Cre~tt ~l~. ~~SB~C~3iI~ data pcccmi~r 7, 7'i ~rtd • • mpanied ~ ~!'tfa~lawin~ dements ("~ocumcnts"~~ #,~ ~l"Ire ~ui~~ai ~ this L~ttrr ~~ t~redit• a~cd ~ ~ .... ~ f ~) 'I~c ~~rrf ~r~ic oftf~c City ~f.~rp~ts C1ui"~ Cig~ lt+Tan~r, a~ his desicr Ong t~e•--r~'thori~r"~#`Cha ~t uo m~ricr #fa~ ~ff~d~wit ~r b~ro~f~~f .. If~iar~ auk #~rtll~rtin~ es ~O~lows: - f' . . •-. ~~ "'~ U ~tor al'CC~I~. LJ.: h3~ got in~wl~e~1 ~e ~aqw~' irnpro~-arner~cs or u ~w pl~~ i=d~~cl~p~nart ~ taqu~re+~ by its fas~l 1lgreemcnt with .} re airy of Co+Tus {~hrist; with the t;mE period ~#luwecl. ~ .,~•. ~ .~ I3voca~blc ~,ctl~r ot'~redi#•guasat~t ~e ~biigatiana aftha luustamcr to ~ra~~criciary as ~rovi~d in thr Dail ~lgrccmcnt. ~" ~. ~ R F a•11. ~ ••ti •• r~i drawn a~ oar ~Crrnit~:d u~~r this Irrc~ocahta t,~c~cr afCr~dit ~~ + ~ d#?l it ~ ti `'y ~ ' i~ Irre~o~bk I.dtcr a~ Cte~,r i~ ~~ tr e. - . . ~. - •r h acs with efi~i tlt~ ~rpon ~e~tio~x as o~ib~tanc S ~n'41~i~k ~.rn., C5T ~o~ .per ttran I)cc~r 7, ~, ~t dr~ts dra+~~ under and Y . n coli~oG u+ith the t~ ~ this Tvocable Lahr ofdi#, ~~~ar utill~duiy horror this ir~v~ ~~hlc mar ~f cr~di#. _ ,, '~~ ~ :. i~ Yrrev0i<~ble Lcttcr o#'r~i# is uir~t~d fir one Y~~ &o~ tbc~da~c a~~u~ca: how~+~r it ~ ~ ~mvta+ori a!'this u~dit d~~ it b~ ~+~b~rnAtit~ty exr~dcd ~ , addit~un~ nods of~c yr,~t unless, at lr~ ~Q ~ays~pria€~ty t~ arrant expir~i~rr ~atc, [ssu~ ir~r 13ancra~~+, Ain: City Nib in wri~n~ by ~~ l~l ter Qvemi~ht Caur:er at tha abav~ adt#rc.s~_d~t.rssuar hay alect~d nut td c~t~nd this •radrl. In the ant of r~~t~-ext~ir~n rticc, failure off' licanc ~ pra~i o ~u~stitutc lrre~bla Let~t~i~q~'dre 30 days prior to aupiration afthe ~~ M rrcn~ evor~~e latter o#'Ctedit will ~onsu~e a u~t upon w~~ch the thrn wrrant ~rrcvrt~k. t~ afr~dit y ~e ~allcd iu its anc~rcty, ~;vr~ d~~u~h nat sic! +e ~ a ~if~c ~ven~ ~~duir, . ~_ r # Y +, •+ ~ I ti ~ is lrt$+rocaWe ~,atar v!'~;r~it a~c~ l*o iii full=tl~.trc ul`oar urx~cttaltir~~ ~~ su~l~ urtdertak~ ~.~ rrn~s# ~w~ is any way hC modified, artrcnded, er a~p~rf~cd ~ rafcrcnca to a~~y dacr~mca#, iosmust ar a~me~t rcfc~rcd to herei,i or in wltit~ ttti~ lroc, ble attar af~re~lic i~ reed to ~ ~ wlttch chiS vtcp~lc ~.ct#cr ol'Cradtr relacc~. ~d~y ~cJt+refcrcoce ~s rrnt deemed t~ idcarporax+c h b~ ~fer~~c jury dacwncnt~ ins#tvmarrt, or anent 1a~~u~t ie at a pay to, or ho+ind h~ ~a ca~rn~ar~y.a~~t ba~vk~ccn na~ciai~ end C~stomar. ~~m~re, ~ss~r l honor thrs ofC~dirt witha~t nq~lr~rrg rota the uu~ ~f tha stat~ments*rn~de in t!u swam a#~davit of ~crary whiff! ~mr xis wtll ~ rdcted b~+ Tsar to d~ativ~, clt~si~e Ord ff rurl. L -,. ~is ~r~+acablc Lctt~r ~ Cn'dxt will ~r ~oy~rn h~' d~~ ~r~vigi8~1~ of ~~ Uni,~n~ Cuxwir ~d 'itic~ ~~t ~~cunt~at~r~+ ~redtt~, 199 ~~vi~i~, tntcrn~t~c~~! ~l~amh~r of Can Publi~iu~~~ Na. 50iT ~i1C~'~~ to the vxt +~ot ineara~~~1~ ~~~il~ ~x I~~~ ~~'the Slntr c~t'Texa~ end ~~n~~ par<icr,lariy ~itb ttMa roui~ic~~ ~f`~ ~t~' S a!`.~a ~I.~cas ~c,sin~+~ ~~d l~omrntarcc ~-da curr~:~tfy in ~:~~ct, ~~ ~;r~ly, ~nr~h ~~f~~F~ Int~rn~[toewl ~l~~~u~ sitar E~h~~i~4 F4~ 8~t~-~78 t~ev. X01 For File _.._-..._ .... w ..~.. ~4 - ,- ~I f ~~C~osu~E aF ~r~TERET ~ ~ ~ . City of Corpus Christ ordinance ~ 7~'! ~, as amended, requires all persons ar firms seekin ~ do business pith ~ ~- ravid . ~ ~ - ~Y to p e the fafiaw~ng ~nforma#~an. Every quest~an must be answered, !f the question is not appiicab~e, answer with ~~A". ~: - 1 - ''rr - '. J~,~`. - l= I RAT NAM ~: - ~ ~ ~ ~ . ; ~ ~ ~~ ~~ STRE~7: ADD _~ , _Z z 1 ~i~~ ,~, cir~r: ~~~ y z~~• ~~ ~ z l=1RlV1 l; ^~. Corporation ^~. Partnership ^3. dole Owner ^4, Association , Other - l~l~CL~SURE QU~STiON - If addi#ional space is necessary, please use the reverse side of this page or attach se rate shut, . Pa ~, ~#e the names of each "employee" o~ the City of Corpus Christi having anownership interest'" cons~#uting 3~6 or more of the ownership in the above named "firrnR. Name ~o~ Title and City Depsrb~~ent cif knawn~ ~. Mate the names of each "official" of the City of Corp~rs Christi having anownership interest* constituting 3°~ or more of the ownership in the above named ~irrn". Name Title ~. Mate the names of each "board member" of the City of Carpus Christi having art "ownership interest constrtutxng 3°l0 or more of the ouunersh'rp in tfte above named "frm~. Nave Board, Commission, or Committee 4. Mate the naves of each employee ar officer of a "consultant" for the City of Corpus Christi who worked on any matter relates to the subject of this contract and has an "ownership interest" constituting 5 or more of the ownership in the above named "firm", Name i //J Consultant CERTIFICATE f i l certify that all information provided is true and correct as of the date of this statement, that ~ have net knowingiy withheld disclosure of any infarrnation requested; and that supplements! sta#ements wii~ be promptly submitted to the City of Corpus ChnstN, Texas as cf~anges occur, Cart' in ~ ~r ~ • ~~ - - ~Y g Person. Title, ~~~''~ Type or Print} signature of Certifying Person: Qate: ~ ~' . Exhibit 5 Page ~ of ~ sZ IATRL[STsanx, N.n X~VOA~~-~ TA~~ L~'~~ ~ ~I~" Bar~k~ su i n g ur LIB Ne: O'~SBL30G ff ~~ f ~ ~~{1~T i1~~lsl\1 11.~~ nternationa! Bat~~rrrg ~cptF l ~~ N, MAIN iC~IITA ~ 57212 ate of issue: 12107107 Ex 1 ~atelPlace;l?107J08 ! ~~C~iITA IBS pplicant: ttetieiary: STOR OF CC~I11, LLC ITY 4F C~RIaCiS CHRISTI I fI0 Ia 22ND T i~., I~LDG ] 900 .~. BOA 9277 WICHITA, ~5 b ~~22d-2319 ~~iPI~S HI~ISTt,'1'~~AS 784G~-927? `I"XN: ASST D1R DF DI~~~II~PMCNT ~~Rw, dvistrrg Bark: redit Avallabta with lYvmin~#ed ~nnk: N'I`Ri15T BA1V~, N,A. nternational Banking Rcpt. I0 N. MAIN viCHITA, R 57202 ~ ~ PAYMENT Tarter: 5i ht maunt~ UI:] 9'T,49I.d8 gainst the documents detailed herein end Beneficlnr~-~s draft~s~ drain n INTRUST~BanIC N.A, Wichita, Kansas ~e hereby establtsfr our irrevocable letter ofcredit {"[rrevo~able Lcttar nfCrcdit~~ in favor ofthe City ofCorpns Christi ~r'Beneficinry'~~ for the account of U ftar of CC#[V, LLC, acting by and through it's nf~ccr Marie Sheets {"Customer"~, aatharixing Beneficiary to draw on INTRUS'!` Bankx I~.A.1~~ I~. fain it., I~ichita, IBS 57202 ~"Issuer"~ the arnoi:nt of ~7,491.b8 ~Ninaty Severt'I`hvusand Four I•Iurrdred Ninety One anal X81100 US Dollars}, under Betre~ciary's !m~ llcaring t1Ze clatirse "Drawn under iNTRUS`f Bank ~,A. Irrevocable Letter of Crealit Mo. 0758LC~3~~ drrted Uccanber 7, 2007" and aceompar~ied by ail of the following docu~nesrts ~"Documents"}. I ~ The original of this Letter of Credit; artd ~) The sworn af~cla~-ir of the City ofGorpas Christi's City Manager, or his designee, stating the authority of the a#~ant to make tie affidar-rit or 6ehalfof rerre~iciary and further stating as follows: "'I~hat U 5tor afCC#11~, I~I,C has not installed the required iri~provements or vacated the pint of developrnerrt as rc~uired ~y its. Dcf~rra[ ~1gc•ecrne,~t with ni City of Corpus Christi within tiro time pcricd allowed." Ti~is irrevocable Letter nfCrcdit guarantees the abligatiol~s ofthe Customer to the Benei~ciary as provided in tl~e Deferral ~tgreemeut+ partial dra-vi~~gs are not perntttted under this trrevocal~le ~,ette~ of Credit. fl~is Irrevocable Metier oFCredit is not transferable. ssrrer hereby agrees with Bene~eiary that upon preserrtatiarr on or before 5 o'clock p,m., CS'I` net later than ICtnbcr 7, 20Q8, that draft dra{vn ender ar~d n ~nmpliance with the terms of this Irrevocable Letter of Credit, Issuer will duly honor this frrcvocablc Getter of credit, is irrevocable utter of Credit is g~tarar-teed for one year from ~e date of issuance however it is a provision of this credit first it be autorr~ticaily extc~xclcd additional periods ofone year unlr~s, at least dayys prior to tha current expiration date, issuer informs Bet-elxciary, Attu; City Manager iii ~rrriti:tg by rtified Mai# or Overnight Gaurt'er at the above address that Issuer has elected not to extend this credit. In the event of non~cxtcnsian notice, failure of piicant to provide a substitute irrevocable Letter ofCredit ~~ days prior to expiration oftire then current I~vocaale letter afCredit will constitute s halt upon which the then current Irrevocable Letter of Credit rr~ay be called irr its Cntircty, even though not stated above as a specific event ol'defaultF ~l~is lrrevocabic Letter ofC+7eclit sets forth in full the terms ofor~r undertaking and such under~.iicfng must not in any way lac trtodit~ed, arnet~ded, yr amplified -y reference to any document, instrument or agree,rrent referred to herein ar in whicil this IrrevocablC Letter ofCredit~ is referred to or co wixich this rrevocabie Letter of Credit relates, and ar~y such refcrettce is not deemed to incorporate herein hY t~ference any doc~arnent, instrument, or agreement Issuer is got a party ta, ar bonr~d by the terms ofany agreement bctwe~ Beneficiary and Customer. , Furtherhsnrc, Issucx shall honor #his Letter afCi~edit without nquirirtg into tl~c tr~~th of the statements n7ade in the sworn a#fidavit of Betteftciary which staterrtents ~vill be considered by Issuer to be determinative, ~~onclusive and final. ~~ his Irrevocable Letter of Credit will be governed 6y tlYC p~~ovisions of I.l~tifornn Customs and Prac~ce far Documentary Credi~,199~ Revision, tternational Chamber vfComrrierce Publication No~ SDD (UCP~DO} to the extent trot inconsistent with the la~vs of the State ofTcxas a~Yd mare particularl~r ith the ~ravisiuns ofChapter 5 of the Texas Business l Commerce Code currcnd~ in e#~ect. ~~~~ Sarah Braden intenzational Bai~lci~ig ~f~icer_. _ . Exhibit 4 FORM ~2~ 0~57~ Roo, t 0l9~ ~ tors #i~, ~~ Itte~ of ~redi~ ~o. 4?B~,03 ppro~~d as to f~rrn; De~a~er ~, ~0~7 m~ ~is~ant ~ A~ito~~ fog a~ City At~~rne~ ind~ ~'ri D~r~c~r of~~~c~ ORIGINAL Doc# 2008001192 DEFERMENT AGREEMENT STATE OF TEXAS § COUNTY OF NUECES § tk _St©'- S CC, m a Texas � This Agreement is entered into between the City of Corpu Christi, Texas, IZ�5 7 home rule municipality, (hereinafter "City ") and , a foreign limited liability corporation authorized to do business in Texas, (hereinafter "Developer "), and pertains to deferral of the required completion of certain improvements required prior to fling the final plat of Holly Park, Block 1, Lots 2, 3, and 4 (the "plat "), which was approved by the Planning Commission on September 19, 2007. 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 improvements, before the final plat is endorsed by the City's Development Services Engineer. Detail construction drawings must be provided by the Developer and approved by the City's Department of Development Services prior to the start of construction; WHEREAS, the Developer is seeking to defer, for a period up to one year, the construction of the water and wastewater improvements (hereinafter the "deferred improvements "), as shown in Exhibit 2, as required by the City's Platting Ordinance; 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; WHEREAS, the Developer will deposit, with the City of Corpus Christi, a letter of credit �in the amount of Ninety -Seven Thousand Four Hundred Ninety -One and 681100 Dollars ($97,491.68), representing 110% of the estimated cost of constructing the deferred improvements, all as shown on the attached cost estimate, which is attached and incorporated as Exhibit 3; o 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; NOW, THEREFORE, for the consideration set forth hereinafter, the City and Developer agree as follows: The City shall waive the requirement that the Developer provide operable water and sewer service as approved in the plat for each lot in the subdivision prior to submission of a deferment agreement to Council. The City shalt waive the Page 1 of 6 Exhibit F ORIGINAL '' Doc# 20011 01192 # Pages 'K 1? 01110/2008 10 :42AN Official Records of NUECES COUNTY DIANA TN BARRERA COUNTY CLERK Fees $71,00 STATE OF TEXAS COUNTY OF NUECES I hereby certify that this instrument was FILED in file number sequence on the date and at the time sta®ped herein by me, and was duly RECORDED in the Official Public Records of Nieces County, Texas a DIANA T. WERRA NUECES COUNTY, TEXAS An provision herein which restricts the Sale, R @nil or use of the described REAL PROPERTY because of Race, Color, Religion, Sex, Handicap, Familial Status, or Nat ional Origin is invalid and unenforceable under FEDERAL LAW, 3112/89, City of Corpus Christi DOvelopment Services/ SpPcial 2406 Leoparrag Suite 900 Corpus %irris<i, 'TX 7840$