HomeMy WebLinkAboutC2015-481 - 10/1/2015 - NA 5
FIRST AMERMAT 2015134-4297
TO THE
INTERCREDITOR AND SUBORDINATION AGREEMENT
BETWEEN
COMMUNITYBANK OF TEXAS, N.A.,
CORPUS CHRISTI COMMUNITY IMPROVEMENT CORPORATION
AND
GCM HOUSING CC, LTD.
This first amendment ("Amendment") is made by and among COMMUNITYBANK OF
TEXAS, N.A., a national banking association (the "Bank"), the CORPUS CHRISTI
COMMUNITY IMPROVEMENT CORPORATION ("CCCIC") and GCM HOUSING CC,
LTD., a Texas limited partnership ("Borrower").
WHEREAS, the Bank, CCCIC and the Borrower executed an lntercreditor and
Subordination Agreement ("Agreement"), effective April 6, 2015, for the purpose of
utilizing the City's FY2014-15 HOME Investment Partnerships Program funds;
WHEREAS, the Agreement contained a discrepancy in the amount of HOME
designated units when compared with the Credit Support and Funding Agreement by
and between Borrower and Bank; and
WHEREAS, the Bank, CCCIC, and the Borrower agree that the parties to the
Agreement intended and were in mutual agreement that six (6) units would be
designated as HOME units when the Agreement was originally executed; and
WHEREAS, the parties desire to execute this Amendment to express their mutual
desire to reaffirm all terms, conditions, and covenants stated in the original Agreement
and to correct the discrepancy in the amount of HOME designated units in the
Agreement to be consistent with the amount of HOME designated units specified in the
Credit Support and Funding Agreement by and between Borrower and Bank.
Section 1. By execution of this instrument, the parties agree to reaffirm and continue in
force all terms, conditions, and covenants stated in the original Agreement, as may be
amended by the execution of this Amendment.
Section 2. Section 6. Miscellaneous, subsection (g), of the Agreement is amended by
deleting the number "eight (8)" and inserting the number "six (6)."
Section 3. By execution of this Amendment, the parties agree to revise the number of
HOME designated units stated in the original Agreement. All other terms, conditions,
and covenants of the Agreement not changed by this Amendment remain the same
and in full force and effect.
Section 4. Within ten (10) days of the complete execution of this Amendment
Borrower shall record a copy of this executed Amendment in the official records of
Nueces County.
2015-481
10/15/15 (EXECUTION PAGE FOLLOWS)
1
Kitty Hawk Development Ltd
INDEXED
EXECUTED IN TRIPLICATE, each of which is considered an original, on this the
2(Q day of O ck)(pe t( , 2015.
CCCIC
400• II ip
4 ,4 fir 0 i
,cc Ronal. . Olson
General Manager
APPROVED AST• FORM: 0e99-- , 2015/414,
• i .
Yv- to Aguilar .
As. stant _ . Attorney
for the City Attorney
ACKNOWLEDGMENT
STATE OF TEXAS §
§ KNOW ALL BY THESE PRESENTS:
COUNTY OF NUECES §
This instrument was acknowledged before me on this 2 day of
Q Cio4..e..1- , 2015 by Ronald L. Olson, General Manager of the Corpus Christi
Community Improvement Corporation, a Texas non-profit cor.. :tion, on behalf of the
corporation.
..011111
(Seal)
Notary P •tic, State of Texas
.�:;"' OLIVER KENT MEEK
Qy
% Texas
ires
2
BANK: CommunityBank of Texas, N.A., a national banking association
By: �'�,
Printed Name: la. cr
Title: Som Prec›ioet✓a
Date:
ACKNOWLEDGMENT
STATE OF TEXAS §
§ KNOW ALL BY THESE PRESENTS:
COUNTY OF NC(v'(' 5 §
This instrument was acknowledged before me on this ZS ' day of ( 6 �?{� ✓ ,
2015, by es Lt). t4);-r of
CommunityBank of Texas, N.A., a national banking association, on behalf of said
banking association.
(Seal) , A . ,k1717
1otary 'ublic, State of Texas
dN H
�,�.•�; CRYSTAL N.KING
'= MY COMMISSION EXPIRES
March 18,2019
3
BORROWER: GCM Housing CC, LTD., a Texas limited partnership
BY: GCM Housing CC GP, LLC, a Texas limited liability company, its
General Partner
BY: rstone Apartments GCI GP, LLC, a Texas limited liability
s , p_ M. Ger
Pri► -i Name"Michael Gardner
Title: Manager
Date: It --a\. -- 15
ACKNOWLEDGMENT
STATE OF N1•ssovc §
§ KNOW ALL BY THESE PRESENTS:
COUNTY OF S\--.1_00:-s- §
This instrument was acknowledged before me on this day of October, 2015, by
Michael Gardner, Manager of Riverstone Apartments, GCI GP, LLC, a Texas limited
liability company, on behalf of said company, Manager of GCM Housing CC, GP, LLC, a
Texas limited liability company, on behalf of said limited liability company, as general
partner of GCM Housing CC, LTD., a Texas limited partnership.
(Seal) \•:•o -‹
°'
Notary Pbblic, State of v11: avr,
d s4' •1f, s
•
`q .-. CAROLYN L. STEELE
-1•:: .:'► " _ • = Notary Public, Notary Seal
4 .. State of Missouri
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Doc 20150442117
T Pases S
11/04/2015 1O:000
Official Records of
NUECES COUNTY
K.ARA SANDS
COUNTY CLERK.
Fees $31.00
An provision herein which restricts the Sale,
Rental or use of the described
REAL PROPERTY because of Race, Color,
Religion, Sexy Handicap, Familial Status, or
National Origin is invalid and unenforceable
under FEDERAL LAW, 3/12/S9.
STATE OF TEXAS
COUNTY OF NUECES
I herebu certify that this instrument was FILED
in file number sequence on the date and at the
time stamped herein b:1 me► and was dulu RECORDED
in the Official Public Records of
Hueces Countdr Texas
KARA SANDS�
45
tAii,e Ti F#• i Tr- Vti- fY 1
i
GT GreenbergTraurig
. RECEIVED'
DEC 01 2015
CP SMCRM1°ARY'S OFFICE
Direct:713-374-3606
Direct Fax:713-754-6603
mimsv@gtlaw.com
November 18, 2015
Rudy Bentancourt VIA-US MAIL
City of Corpus Christi
Housing& Community Development Dept.
1201 Leopard St.
Corpus Christi, TX 78401
RE: GCM Housing CC, Ltd.
Dear Mr. Bentancourt:
Enclosed for your files is a copy of the First Amendment to the Intercreditor and
Subordination Agreement as recorded on November 4, 2015 in the Official Public
Records of Real Property of Nueces County, Texas under Document#2015044297.
Please feel free to contact me with any questions you may have.
Thank you.
Sin rely,
1 thire . 1 ' 17) --
Valerie is
Legal Assistant to Wayne A. Yaffee
enclosure:
HOU 408424657v3
GREENBERG TRAURIG,LLP • ATTORNEYS AT LAW • WWW.GTLAW.COM
1000 Louisiana Street • Suite 1700 • Houston,TX 77002 • Tel 713.374.3500 • Fax 713.374.3505