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Home My WebLink AboutC2010-312 - 7/13/2010 - Approved DEFERMENT AGREEMENT STATE OF TEXAS § COUNTY OF NUECES § This Deferment Agreement (hereinafter "Agreement") is entered into between the City of Corpus Christi, Texas, a Texas home rule municipality, (hereinafter "City") and Yorktown Oso Joint Venture, (hereinafter "Developer"), and pertains to deferral of the completion of certain improvements required prior to filing the final plat of Rancho Vista Subdivision Unit 3A (the "plat"), which was approved ~y the Planning Commission on May 12, 2010. 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 Engineer. Detailed construction drawings must be provided by the Developer and approved by the City's Departments of Development Services and Engineering prior to the start of construction; WHEREAS, the Developer is seeking to defer the required half-street construction of Rodd Field Road 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, in accordance with Section IV, Paragraph A, Subparagraph 12, the half-street is an arterial street or a collector street as depicted in the Transportation Plan, an element of the Comprehensive Plan of the City of Corpus Christi; WHEREAS, on behalf of Developer and in accordance with Section IV, Paragraph A, Subparagraph 12, on July 7t~, 2010, the Planning Commission approved the request of the Director of EngineeringlCity Engineer (hereinafter City Engineer), requiring that the Developer deposit with the City cash monies in lieu of construction of the half-street; WHEREAS, the Developer will deposit, with the City of Corpus Christi, the amount of Twenty-Four Thousand Six Hundred Seventy Dollars and 101100 ($24,670.10), 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; WHEREAS, the City Attorney and Director of Finance have approved this transaction; Zalo-312 M2010-171 07/13/10 Yorktown Osa Joint Venture A~ ~~ Deferment Agreement between the City of Corpus Christi anc! Yorktown Oso ,!Dint Venture Page 2 of 4 WHEREAS, the Developer has satisfied aft other subdivision requirements, park dedications, park dedication deferment agreements, and maintenance agreements and all special covenants have been completed; WHEREAS, the Developer is entering into this Agreement as required by Section V, Paragraph A, Subparagraph 3. b) of the Platting Ordinance; NOW, THEREFORE, for the consideration set forth hereinafter, the City and Developer agree as follows: The City agrees to allow the Developer to defer construction of the half street as shown in Exhibit 2. 2. To defer, Developer shall deposit with the City, cash monies in lieu of the half street construction in the amount of Twenty-Four Thousand Six Hundred Seventy Dollars and 101100 ($24,670.10), as shown in Exhibit 3. The funds shall be deposited by the City into the Infrastructure Trust Fund, an interest bearing account from which both principle and interest shall be made available solely for the future construction of the required improvements hereunder. Such funds shall not be used for any other purpose whatsoever. 3. The City shall waive the requirement that construction of the deferred improvements be completed before the final plat is endorsed by the City Engineer and filed for record with the County Clerk of Nueces County. Before filing, the final plat shall indicate that cash in lieu of construction of a half street has been deposited with the City. 4. The City Engineer, at Developer's expense, shall file of record this Deferment Agreement in the records of Nueces County. 5. No party may assign Phis Deferment Agreement or any rights under this Agreement without the prior written approval of the other party. 6. 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, shaft be deemed sufficiently given if addressed to the appropriate party at the address noted above the signature of the 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. 7. This Agreement shall be construed under and in accord with the laws of the State of Texas and all obligations of the parties created hereunder are performable in Nueces County, Texas, and all lawsuits pursuant hereto shall be brought in Nueces County. DefermentAgreemenf between the City of Corpus Christi and Yorktown Oso Joint Venture Page 3 of 4 8. 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 to #his Agreement as Exhibit 4. 9. This Agreement shalt 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 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. 10. The person signing this Agreement on behalf of the parties represents, warrants, and guarantees that they have authority to act on behalf of the party and make this agreement binding and enforceable by their signature. EXECUTED in triplicate originals this (9~M day of ,J,,1.~ ,2010. Yorktown Oso Joint Venture 5337 Yorktown Boulevard, Suite 10D Co s Christi, TX 78413 By: Fred Braselton Co-Manager THE STATE OF TEXAS § COUNTY OF NUECES § This instrument was signed and acknowledged before me on the (s~~' „__._ day of ~~ ~~ , 2010 by Fred Braselton, Co-Manager, Yorktown Oso Joint Venture. x ~: xAV1ERGAE.VAI~ ~': '~~ MYC,OMMI5SlOltli~(P1RE3 ~~• ~ ~~= Febnrs~y 2, 2018 a--,- ta ubl State f Texas Deferment Agreement between the City of Corpus Christi and Yorktown Oso Joint Venture Page 4 of 4 ATTEST: Armando Chapa City Secretary THE STATE OF TEXAS § COUNTY OF NUECES § CITY OF CORPUS CHRISTI ("City"} P. O. Box 9277 Corpus Christi, Texas 78469 Telephone: (361) 880-3500 Facsimile: (361) 880-3501 r By: ~ ~- gel Escobar City Manager This 'nstrument was signed and acknowledged before me on the ~~ day of 2010, by ~-ngel Escobar, City Manager, for the City Of Corpus Christi, a Texas m nicipal corporation, on behalf of the corporation. ~,: ~_ HoLLYHOUGHTQN Notary Pu ic, Stat f Texas - _ MY CpMMISSiON fMPIRE5 ~' „p~~a~'' September 24,2Q]2 APPROVED AS TO FORM: This ~ ~ day of _ _~~, , 2010. Carlos Valdez, City Attorney BY: ~'' ~~ Deborah Walth Brown, Assistant City Attorney For the City Attorney ~D ~ I`7 ~, ~~T~+oR~~~ ..,r„i~;Jr;,n~,ti,.~......~aw,e..... 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Eir aLW .IX'~ 1 ,oo•GSkx ~.ar ee.azrk ~_~~ f~ leya 'P.F .LK EXHIBIT 1 Page 2 of 2 Exhibits Ror Deferment Agreement between City of Corpus Christi and Yorktown Oso Joint Venture Exh. 1 :2 pgs; Exh.'s 2&3: 1 pg.ea.; Exh.4 :2 pgs. (6 pgs. total) O 1 ~ r 1 - w~~ -_. t f z..;F e ~~ ~~ f ~,r 1~• =fit w~ ~ F ..:. t~ € r, s. I ~-~~.,,... elf..,, "3 F~ ~^fp„, '' IFS' .. i - 3~ i -..~ F .. E~ .,. SfjF~ r ...._„, ~~ ~ ~ ry..,A ~T 1=1 ~-- - - ~ - - . I I'1~ 11 16 9 B 7 6 5 4 3 I `~-.~_ ~~- ~~ F Park 3 ~ ~~~~~~~ 1 ~.~23 93 14 15 16 17 1B 19 20 ~^ 22 23 24 _„ 1 ~~i _ ~~ ~ ~ I+ 5 ^:: I I '~ ~. .. I 21 -'12 1l 1t] 8 8 ? 6 5 4 3 2 1?': ~-~-59~ I 7 I ,. a ,. '' - . X P .1 P P it { ~~ t~ ~ I7 ~.: - I ~ C ~ o n ~ High Gun Drive '6 I ,, s y .. _, n u n e r a $ i # ~ _ F .. n u ~ 14 ~~ i~ - ., .:.-,..... ....... .... .. ... .. . ..i Y- 13 I it ~~R, ~ ~.- 1 II t 1 .......... 1 12 i J ~1. PROPOSED ~ 17 11 HALF-STREET ~ ~' 10 ~~ DEFERMENT ` ~~-- ~ LOCATION ~' SCALE: 1 "=200' ~ -5.~ 2 Of 2 209Q by Urban Engineering Exhibit for ~ " ''~ A Rc`>~IIC11O ~15~ ~iI~1}VISIDI7-U.~lI~ ~A ENGINEER#NG eoRPUS c~msr9, tsx,~s Half-Street deferment Location ~~ ~ ~ ~~ DATE: 2 8Y: ~~ EXHIBIT 2 Page 1 of 1 e , Exhigits for Deferment Agreement between City of Corpus Christi and Yorktown Oso Joint Venture Exh. 1 :2 pgs; Exh.'s 283: 1 pg.ea.; Exh.4 :2 pgs. (6 pgs. tokal) Eng: Chip Urban Gost Estimate June 16, 2010 By: C.R.R. for Job No. 39319.3A.D0 G7 CDLLECTDR IMPROVEMENTS TD RDDD FIELD RDAD AT RANCHO VISTA UNIT 3A ITEM DESCRIPTION QUAN. UNIT UNIT TOTAL PRICE COST Gi COLLECTOR IMPROVEMENTS: 1 Clear and Grub Right of Way D.28 AG $20D.00 $58.DD 2 Roadway Excavation 1,155 CY $3.D0 $3,465.00 3 2" HMAC Including Prime Gaat 840 SY $9.00 $7,560A0 4 8" Compacted Limestone Base 98p SY $9.OD $8;820,00 5 8" Lime Stabilzied Subgrade 1,D27 SY $2.50 $2,567.60 6 6"'L' Curb 420 LF $9.00 $3,7$0.00 7 4' Concrete Sidewalk 1,680 SF $3.00 $5,04D.00 8 18" RCP 210 LF $30.00 $6,3DD.00 9 15" RCP 40 LF $24.00 $96D.60 1D 5' Slot Inlet 2 EA $2,500.00 $5,OD0.00 11 4' Diameter Manhole 1 EA $3,500.00 $3,500.DD ESTIMATED IMPROVEMENTS COSTS SUB-TOTAL: $47,D5D.50 10% CONTINGENCY: $4,70x.05 ENGI NEERWG FEE @ 7.5%: $3,$81.67 TOTAL ESTIMATED COST: $55,637.22 DEVELOPER'S. {112 STREETS PORTION ~ 50%a: $27,818.61 Additional Land Dedicated for ROW 0,227 AC $23,75D.OD $5,391.25 (47'x210'=9,780sf or 0.227 ac) DEVELOPER`S COST LESS ADDITIONAL ROW DEDICATED: $22,427.35 ADDITIONAL 10% REQUIRED BY DEFERMENT AGREEMENT: $2,242.74 TOTAL DEFERMENT AMOUNT: $24,670.10 Urban Engineering 2725 Swantner Corpus Christi, TX 78404 1-361-854-31 D1 1 of 1 EXHIBIT 3 Page 1 of 1 Exhibits for Deferment Agreement between City of Corpus Christi and Yorktown Oso Joint Venture Exh. 1 :2 pgs; Exh.'s 283: 1 pg.ea.; Exh.4 :2 pgs. (6 pgs. total) c~~ °~ CITY OF CORPUS CHRISTI c°~u5 DISCLOSURE OF INTERESTS Chnsti City of Corpus Christi Ordinance 97112, as amended, requires ail 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: Yorktown Oso Joint Venture STREET: 5337 Yorktown Boulevard Suite 10D CITY: Corgus Christi. Texas ZIP: 78413 FIRM is: 1. Corporation 2. Partnership 3. Sole Owner 4. Association 5. Other: Prospective purchaser DISCL05URE 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 on the above named "firm." Name Job Title and City Department (if known} NIA NIA 2. State the names of each "official" of the City of Corpus Christi having an "ownership interest" constituting 3% or more of the ownership 'rn the above named "firm," Name Title NIA NIA 3. State the names of each "board member" of the City of Corpus Chris#i having an "ownership interest" constituting 3% or more of the ownership in the above named "firm." Name Board, Commission or Committee NIA NIA 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 subjec# of this contract and has an "ownership interest" constituting 3% or more of the ownership in the above named "firm." Name Consultant NIA NIA EXHIBIT 4 Page 1 of 2 Exhibits for De#erment Agreement between City of Corpus Christi and Yorktown Oso Joint Venture Exh. 1 :2 pgs; Exh.'s 2&3: 1 pg.ea.; Exh.4 :2 pgs. (6 pgs. total) 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, Texas, as changes occur. Certifying Person: ~~Gp ~~'tS E~"C"a-N Title: ~~'~ ~`^~' ~~~~ (Type or Print) ~, ~ A Signature of Certifying Person: ~i l'~A~-~~/~~w~~'/~A Date: _. r7l (St I 1 n EXHIBIT 4 Page 2 of 2