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HomeMy WebLinkAboutC2008-024 - 2/12/2008 - ApprovedLETTER AGREEMENT REGARDING OSO PARKWAY DEVELOPMENT AGREEMENT This Letter Agreement pertains to that Oso Parkway Development Agreement (the "Agreement") by and between the City of Corpus Christi, Texas (the "City"), a Texas home rule municipality, and Hogan Development Company, L.P. (the "Developer"}, a Texas limited partnership, approved by the City Council of the City an May 15, 2007. Whereas, the Agreement included an anticipated timetable for the purchase of the park tract by the Trust for Public Land (the "Trust"} and the completion of Oso Parkway and such timetable has been modified; and Whereas, the parties desire to clarify the time for the construction of improvements along Oso Parkway and requiring the completion as a condition precedent to the recording of the plats of the properties immediately to the west of that portion of Oso Parkway constructed pursuant to the Agreement; The City and the Developer enter into this Letter Agreement, not as an amendment of the Agreement, but in order to update the timetable for the purchase of the park tract and the completion of Oso Parkway and to clarify certain matters concerning the improvements and platting of property along Oso Parkway. Section 1. Park Tract Purchase. The Developer and the City anticipated that the purchase of the park tract by the Trust would close prior to August 1, 2007. The parties now anticipate that the purchase of the park tract will close prior to March 31, 2008. Section 2. Oso Parkway Construction. The Developer agreed to construct Oso Parkway from its then-existing terminus near the Victoria Park subdivision in one ar more construction projects to commence on or before January 31, 2008. Such timetable was conditioned upon the acquisition and dedication of the park tract as provided above. The parties acknowledge that the Developer has completed the construction of the first segment of Oso Parkway up to and including its interchange with Wooldridge Drive. The remaining segments shall be constructed in one or more projects as provided in the Agreement. Section 3. Oso Parkway Sidewalks. As part of the Developer's construction of Oso Parkway, the proposed final street cross-section included a 6-foot wide sidewalk along and parallel to the westerly right of way line, and a 6-foot wide sidewalk generally along the easterly right of way line in a gently winding manner. The sidewalk along the easterly right of way line on the portion of Oso Parkway already constructed has been completed as part of the completion of the subdivision improvements for the San Sebastian and San Cristobal subdivisions constructed by the Developer. The parties agree that the construction of the sidewalks along the westerly right of way line of 2008-024 02/12/08 ,t-z.doc M200$-036 aMarlOsoParkLtrAgmt-2 Page 1 of 4 Hogan Development Co. Oso Parkway shall be constructed by Developer as and when it constructs the residential subdivisions adjacent to such portions of Oso Parkway. Section 4. Conditions for Recordation of Plats. In order to assure Developer's construction of the required sidewalks along the westerly right-of-way line of Oso Parkway as provided above and in the Agreement, the City's recordation of the plats for any subdivisions including the property immediately west of Oso Parkway shall be conditioned upon the Developer's completion of the portions of the Oso Parkway sidewalk adjacent to such subdivisions. Such properties are more particularly described on Exhibit A attached, and the conditions of this provision shall be covenants running with the land regarding the platting of properties immediately west of Oso Parkway. Section 5. Satisfaction of Conditions. The Agreement and this Letter Agreement are being filed of record in the Official Public Records of Real Property of Nueces County, Texas. Upon the recording of each subdivision plat including the properties described herein, the provisions of this Letter Agreement and the Agreement shall be deemed satisfied and of no further force or effect as to the properties covered by any such subdivision plat. Nothing herein or in the Agreement shall constitute a condition or covenant running with the land as to any completed subdivision lots included within a plat approved and filed of record by the City. The undersigned parties have executed this Agreement on the dates indicated below. CITY OF CORPUS CHRISTI, TEXAS a Texas municipal corporation By: Barge Noe, City Manager Date: ~~ 1 ~(~ ATTEST: Armando Chapa, City Se etary APPROVED AS TO LEGAL FORM: February ~, 2008. Mary Kay Fischer, City Attorney HOGAN DEVELOPMENT COMPANY, L.P. A Texas limited partnership By: Seabreeze Limited Co., LLC Its General Partner Neill F. Amsler III, President Date: ~ r<~ ~~ Dig- ~3 Zv ,,,, ~u~~~uw~~~ ~ C~ltfiiCil d ~ ~ ~$ S~CRET~ By: As st City Attorney F:14494126 ArticulationlOso Park Ltr Agmt-2.doc H:LegBir/gwslDevelopmentservices/I'erraMar/osoParkLirAgmt-2 Page 2 of 4 THE STATE OF TEXAS COUNTY OF NUECES This instrument was acknowledged before me on February / ~ 2008, by Neill F. Amsler, Ill, Manager, Seabreeze, Ltd. Co., a Texas limited liability company, acting as General Partner of Hogan Develoglnent Company, L.P., a Texas limited partnership, on behalf of said partnership. . A E(Ay(AF~rA JIp LJ 4fRV FZQ. ~/1/flk` LF U{. {. `. ap '~ ''_ "°`~~' P°~1i0 No blic, State of Texas 4 ~~ ~, STATE OF TEXAS ~'~~ROFt°`+ Mi y Comm. Exp. 04-20.2009 THE STATE OF TEXAS COUNTY OF NUECES This instrument was acknowledged before me on February , 2008, by George Noe, City Manager of the City of Corpus Christi, a Texas home-rule muni pal corporation, on behalf of the corporation. Notary Public, State of Texas „", cpNl~ilE Pprtli(S ~„ 's= MY COMN118510N SXPIFiES _ • i.; mar 9,201 i ~~~ F:14444126 ArticulationlOso Park Ltr Agmt-2.doc Ha,egpir/gwslDevelopmentServiceslTercaMarlOsoParkLtrAgmt-2 Page 3 of 4 EXHIBIT A Those portions of Lots 3, 4, 11, 12, 17, 21, 22 and 23, Section 32, Flour Bluff and Encinal Farm and Garden Tracts, as recorded in Volume A, Pages 41-43, Map Records of Nueces County, Texas adjacent to the configuration of Oso Parkway as shown below: