HomeMy WebLinkAboutC2015-536 - 12/22/2015 - NA \ V
DEFERMENT AGREEMENT
STATE OF TEXAS §
COUNTY OF NUECES §
This deferment agreement ("Agreement") is entered into between the City of
Corpus Christi ("City"), a Texas home-rule municipality, and Point Development, LLC
(the "Developers"), in order to defer the completion of certain required public
improvements prior to recording the final plat of Brighton Park Addition No. 2, Corpus
Christi, Nueces County, Texas (the "Plat"). A copy of the Plat is attached and
incorporated by reference into this Agreement as Exhibit 1.
WHEREAS, the Developers are obligated under Section 8.1 of the Unified
Development Code ("UDC") to construct the required public improvements before the
final Plat is endorsed by the City's City Engineer or Development Services Engineer, as
applicable ("City Engineer");
WHEREAS, the Developers are seeking to delay the construction of the required
public improvements ("Deferred Improvements") shown in Exhibit 2, which exhibit is
attached and incorporated by reference into this Agreement, and to have the Plat filed
immediately with the County Clerk of Nueces County, Texas;
WHEREAS, in order to have the Plat filed prior to completion of the Deferred
Improvements, the Developers agree to deposit with the City a form of pre-approved
financial security authorized by Section 3.30.1 of the UDC in the amount of One
Hundred Fifty Thousand Two Hundred Thirty-One Dollars and 62/100 ($150,231.62),
representing 110% of the estimated cost of constructing the Deferred Improvements as
shown in the cost estimate, which cost estimate is attached and incorporated by
reference into this Agreement as Exhibit 3;
WHEREAS, water and sewer service are available to serve the subdivision, and
the Developers have completed all other subdivision requirements, park dedications,
park deferment agreements, maintenance agreements, and all special covenants;
WHEREAS, the Assistant City Manager and City Attorney have both approved
this transaction; and
WHEREAS, the Developers are entering into this Agreement pursuant to Section
8.1.10 of the UDC in order to defer construction and record the final Plat.
NOW, THEREFORE, for the consideration set forth in this Agreement, the City and
Developers agree as follows:
C2015-536
12/22/15 ,t, LLC-Brighton Park Addition No. 2 vFinal Page 1 of 8
ement Template Version 1.0 8.25.15
Point Development LLC
SCANNED
1. The preamble to this Agreement is included as substantive content in this
instrument and upon which all parties to this Agreement have relied and will
continue to rely during the term of this Agreement.
2. In consideration of the Developers' request to enter into this Agreement and the
posting of approved financial security, the City agrees to 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, and City further agrees to allow the Developers to delay
construction of the Deferred Improvements up to the expiration of the time period
stated in paragraph 26 of this Agreement.
3. As a condition of this Agreement, the Developers agree to deposit with the City
One Hundred Fifty Thousand Two Hundred Thirty-One Dollars and 62/100
($150,231.62), as a form of financial security authorized in Section 3.30.1 of the
UDC, upon execution of this Agreement. The financial security must provide for
110% of the estimated cost of constructing the required Deferred Improvements,
as those costs are shown in Exhibit 3.
4. If a letter of credit is utilized as financial security under this Agreement, the
content of the irrevocable letter of credit must be pre-approved by the City's
Director of Financial Services ("Finance Director") and City Attorney, be issued
by a banking institution having a local branch office within the State of Texas
(Corpus Christi location preferred), be valid for a period of twelve (12) months
from the date of issuance or longer, such date being the same as the date of this
Agreement, and containing the terms of Exhibit 4.
5. If the form of financial security is a letter of credit, the Developers must ensure
that the letter of credit is kept valid at all times. The letter of credit must be
renewed by the Developers before expiration under the terms outlined in Exhibit
4. If timely renewal is not received by the City under those terms, or cash in lieu
thereof is not deposited as financial security with the City, the City may, after
thirty (30) days prior written notice to the Developers, call (redeem) the letter of
credit for failure to timely renew. If the letter of credit is called for failure to timely
renew, the funds will be held in an account as if cash had been posted by the
Developers for this Agreement in lieu of the letter of credit. The City shall not be
liable for interest on any letter of credit so called nor shall the City be liable to the
Developers for the accrual or payment of interest on any type of financial security
posted by the Developers pursuant to this Agreement.
6. In accordance with the provisions set out in Section 3.30.1 of the UDC, as it may
be amended, the City may accept other types of financial guarantees for
deferment agreements subject to the approval of the Finance Director and the
City Attorney. In the event the Developers desire to use and the City agrees to
accept an alternate form of financial guarantee other than a cash deposit or an
irrevocable letter of credit as security for this Agreement, such other security-
specific financial guarantee's terms and conditions pertaining to issuance,
Deferment Agmt Point Development, LLC-Brighton Park Addition No.2 vFinal Page 2 of 8
Standard Form Deferment Agreement Template Version 1.0 8.25.15
redemption, restrictions, limitations, and use as made be made subject to this
Agreement shall be as further set out in an attachment to this Agreement, which
attachment is to be attached to this Agreement and the content incorporated by
reference into this Agreement as an "Attachment." The parties agree that, should
there be, by the attachment and incorporation of the Attachment to this
Agreement, any conflict in the terms, conditions, or requirements stated in this
Agreement (including its exhibits) and the Attachment, the provisions of
Attachment take precedence over conflicting terms in the Agreement and its
exhibits. All other provisions in the Agreement (and its exhibits) not in conflict
with the Attachment control otherwise by agreement of the parties.
7. Unless otherwise stated in this Agreement, any notice required or permitted to be
given by either party shall be in writing and must be given by personal delivery,
fax, or certified mail, return receipt requested, postage prepaid, and notice is
deemed sufficiently given if addressed to the appropriate party at the address
shown for the party in the signature block of this Agreement or faxed to the fax
phone number shown in the signature block for the party. Any party may, by
notice to the other in accordance with the provisions of this paragraph, specify a
different address or addressee for notice purposes.
8. Time is of the essence in the performance of this Agreement.
9. Detailed construction drawings must be provided by the Developers and
approved by the City's Departments of Development Services and Engineering
prior to the start of construction of the Deferred Improvements.
10. The Developers shall construct the Deferred Improvements in accordance with
the City's engineering standards in effect at the time of construction and in
accordance with the construction drawings approved by the City departments
pursuant to the paragraph above.
11. Upon completion of the Deferred Improvements by the Developers as verified by
the Assistant City Manager and Director of Development Services and within the
time period stated in paragraph 26 of this Agreement, acceptance of the Deferred
Improvements by the City Engineer, and compliance by the Developers with the
remaining terms of the Agreement, the City Engineer shall:
a. Immediately release the Developers from the need to maintain the letter of
credit by mailing a release letter to Developers at the address shown above
Developers' signature lines in this Agreement; or
b. Return to the Developers within sixty (60) days of the completion of the
construction of the Deferred Improvements and settlement of the actual
construction costs, or within sixty (60) days of acceptance of the Deferred
Improvements by the City, whichever is later, any balance remaining of all
monies received by the City from the Developers.
Deferment Agmt Point Development, LLC-Brighton Park Addition No. 2 vFinal Page 3 of 8
Standard Form Deferment Agreement Template Version 1.0 8.25.15
12. If the Developers have not begun construction of the Deferred Improvements at
least thirty (30) days prior to the date stated in paragraph 26 of this Agreement,
the Developers agree that the City, after notice in writing to the Developers, may
accelerate payment or performance or require additional financial security when
the City deems itself at risk as to the prospect of performance or payment based
on a demonstrated reasonable basis. In addition, if the Developers default and
fail to deposit any increased security after notice and an opportunity to cure, the
City may transfer the cash funds received or call (redeem) the letter of credit and
transfer the funds (if the financial security provided was in the form of a letter of
credit) to the appropriate City account, and the City may begin completion of the
construction of the Deferred Improvements. If City constructs all or any part of
the required Deferred Improvements, the Developers shall reimburse the City for
any additional costs related to completion of the Deferred Improvements within
thirty (30) days after the City completes the required Deferred Improvements and
invoices the Developers if the funds on account prove inadequate for the City to
complete the Deferred Improvements.
13. In accordance with Section 8.1.10.6 of the UDC, an increase in financial security
from the Developers may be required on an annual basis if the City deems itself,
in the sole discretion of the City, insecure as to the prospect of payment or
performance on a demonstrated reasonable basis or it reasonably determines
that the financial security does not provide for 110% coverage of the estimated
construction costs.
14. The City and Developers agree that, if the Developers formally vacate the current
Plat with approval of the Planning Commission prior to the deadline for
completion of construction of the Deferred Improvements, any money received
by the City from the Developers remaining on deposit will be released and
immediately returned to the Developers.
15. If Developers default in any of their covenants or obligations under this
Agreement [excluding failure to timely renew a letter of credit, post additional
security, or as may be made applicable by the Attachment, for which the default
provisions are separately addressed in this document], the City Engineer shall
send written notice to the Developers [(and may send notice to the Developers'
project engineer ("Project Engineer"), if such address is known by the City] by
certified mail, return receipt requested, advising the Developers of the default
and giving the Developers thirty (30) days from date of receipt of the notice letter
to cure the default. If the Developers fail to cure the default after receipt of notice
and opportunity to cure, the City Engineer may transfer any funds received to the
appropriate fund of the City in order to complete the Deferred Improvements. In
the event there are any funds received by the City from the Developers
remaining after the City has completed construction of the Deferred
Improvements, the excess funds will be refunded to the Developers within sixty
(60) days of the completion of construction of the Deferred Improvements and
settlement of the actual construction costs.
Deferment Agmt Point Development, LLC-Brighton Park Addition No.2 vFinal Page 4 of 8
Standard Form Deferment Agreement Template Version 1.0 8.25.15
16. The City reserves the right not to issue certificates of occupancy for all or any
portion of the real property that is the subject of the Plat until the Deferred
Improvements are constructed, installed in working order, and accepted by the
City Engineer in accordance with the provisions of this Agreement.
17. No party may assign this Agreement or any rights under this Agreement without
the prior written approval of the other party and by amendment to this
Agreement.
18. By execution of this Agreement, the Developers covenant to construct the
Deferred Improvements required by this Agreement, and this covenant shall be a
covenant running with the land. The City, at the Developers' expense, shall file
for record this Agreement in the official public records of Nueces County.
19. With the exception of the Attachment made applicable pursuant to paragraph 6,
no changes or modifications to this Agreement may be made, nor any provisions
waived, unless the change or modification is made in writing and signed by
persons authorized to sign agreements on behalf of each party.
20. If, for any reason, any section, paragraph, subdivision, clause, provision, phrase,
or word of this Agreement or the application thereof to any person or circum-
stance is, to any extent, held illegal, invalid, or unenforceable under present or
future law or by a final judgment of a court of competent jurisdiction, then the
remainder of this Agreement, or the application of said term or provision to
persons or circumstances other than those as to which it is held illegal, invalid, or
unenforceable, will not be affected thereby, for it is the definite intent of the
parties to this Agreement that every section, paragraph, subdivision, clause,
provision, phrase, or word of this Agreement be given full force and effect for its
purpose.
21. The Developers shall, in compliance with Section 2-349 of the City's Code of
Ordinances, complete the City's Disclosure of Interests form, which is attached to
this Agreement as Exhibit 5, the contents of which, as a completed form, are
incorporated in this Agreement by reference as if fully set out here in its entirety.
22. The Developers shall comply with all federal, State, and local laws, regulations,
and rules applicable to performance of this Agreement.
23. This Agreement shall be construed under and in accordance with the laws of the
State of Texas, and all obligations of the parties created pursuant to this
Agreement are performable in Nueces County, Texas. Venue for all actions
arising from or pursuant to this Agreement shall be brought in Nueces County,
Texas.
24. Strict performance of the provisions of this Agreement by the Developers is
required by the City as a condition of this Agreement. The Developers
specifically acknowledge and agree that failure by the Developers to adhere or
Deferment Agmt Point Development, LLC-Brighton Park Addition No. 2 vFinal Page 5 of 8
Standard Form Deferment Agreement Template Version 1.0 8.25.15
•
comply with any term, condition, or requirement of this Agreement constitutes a
default of this Agreement.
25. All signatories to this Agreement warrant and guarantee that they have the
authority to act on behalf of the person or entity represented and make this
Agreement binding and enforceable by their signature.
26. This Agreement is to be executed in One Original, of which constitutes an
original document. This Agreement becomes effective and is binding upon and
inures to the benefit of the City and Developers and their successors and assigns
from and after the date the Agreement has been executed by all signatories.
This Agreement terminates December 15, 2016 from the date executed by the
last party signing this Agreement.
(EXECUTION PAGES FOLLOW)
Deferment Agmt Point Development, LLC-Brighton Park Addition No. 2 vFinal Page 6 of 8
Standard Form Deferment Agreement Template Version 1.0 8.25.15
EXECUTED IN ONE ORIGINAL and made effective this�� "q day of
Uec,avwt rV` , 20 S .
CITY OF CORPUS CHRISTI
P. O. Box 9277
Corpus Christi, TX 78469-9277
(361) 826-3240 Office
(361) 826-4428 Fax
(-0
Signature ;
Printed Name: al t( t e f e (9 /K ✓l
Title: Assistant City Manager, or Designee
STATE OF TEXAS §
§
COUNTY OF NUECES §
This instrument was acknowledged before me on DEW"& L am), 20 15, by
74u IMC G% raid ,Oeue.►-or.,....d- 5e v't�- 'sacc4Y (title)
for the City of Corpus Christi, Texas.
'/ U Z tWr nye
6 %` JUAN c LUSO
My "ommission Expires
•� ��� October 15,2017
411:1117•TliWrnature
APPROVED AS A STANDARD FORM LEGAL DOCUMENT: yA/Vit J4 , 20/6.
CITY ATTORNEY
clke-1?-ett- Ati' //,/tY
Signature
Printed Name: IOL/4 ,j/ £ 24/Vr
Title: Assistant City Attorney
Deferment Agmt Point Development, LLC-Brighton Park Addition No. 2 vFinal Page 7 of 8
Standard Form Deferment Agreement Template Version 1.0 8.25.15
DEVELOPERS:
Point Development, LLC
2607 Cardinal Lane
Humble, Texas 77396
(361) 438-5397
(361) 814-5391 (FAX)
Signature
Printed Name: Frank Manning
Title: President
Point Development, LLC
Date: \\,_ - L - Z.�
STATE OF I nOti S §
COUNTY OF QtA<<-.4st
§
This instrument was acknowledged before me on �c--el,^'-- Z I , 20 15 , by
- 1.)k k Vt I4 / &"— , t eC.,r (title)
of Point Development, LLC, a Limited Liability Corporation, on behalf of said
corporation.
JUAN C LUGO
e v \ Commission Expires
� 2/`� , My� October 15, 2017
eft" Pu ig • .t
At ached and incorporated by reference into this Agreement:
Exhibit 1 - Plat (1 pages)
Exhibit 2 - Required Public Improvements (2 pages)
Exhibit 3 - Cost Estimate (1 page)
Exhibit 4—Copy of Financial Security
Exhibit 5 - Disclosure of Interests (2 pages)
Attachment A - If applicable pursuant to paragraph 6
Deferment Agmt Point Development, LLC-Brighton Park Addition No. 2 vFinal Page 8 of 8
Standard Form Deferment Agreement Template Version 1.0 8.25.15
Plat of .?°
Brighton Park Addition No.2
)RGEND
Being a final plat for 10.00 Acre Tract more or less, of Lot 8, Section 21, Flour Bluff and a"R
Encino) Farm and Garden Tracts, a map of which is recorded in Volume A, Pages 41-43, Map SITE ia,
Records of Nueces County, Texas. Being conveyed in Special Warranty Deeed from Michael Manning, j �o
Frank K. Manning, Mike S. Markoff and Patricia Ann Markoff to Point Development, LLC. on July 22, Rob
2015, as recorded In Document No. 2015028408, Official Public Records of Nueces County, Texas.
U : - JIB a'in,
��
! err c--
DEC -2 2015 I \ •'
150 1� 5p�° 00 00 / sr i
AHlne Rood ' w,
Grapnk Scale PLANNING COMMISSION 2 / _ CITY OF CORPUS CHRISTI
1 -100' S 61'19'55'E 660.00'
" — .. LOCATION MAP N.T.S.
ep,r, ,,,,, . COUNTY OF NUECES
_..e <- 's s f e word —"3pe mnaoni Wer 40,4..==.z.,I. •
Notal: - • : --v , g, -
1•)Total platted area contains 10.00 acres of land. (Includes — — w rs a
Street Dedication) - - - \ \ 0
\\\V a A h , NOJ 6 X015
2.)The receiving water for the storm water runoff from this \ \r xur r \ - I I
property is the Oso Bay. The TCEO has classified the \ 2 Lot 1
aquatic life use for the Oso Boy as'exceptional'and \ \ UM 1 ,b\ ,I _ State of texas - --i
'oyster waters'. The TOED oleo categorized the receiving ',N.\
\ County of Nuecm
water os'contact recreation"use. \9\ 9 7\1 t'''''
d,% 0 This final plat of the hereto described property was approved by the Department of Development
\ \ li 9 e,. Service.of the City of Corpus Christi,Texae.
3J Bearings based on CPS, NAD83,State Plane Coordinate r \ \ k
System,Texas South Zone 4205. \\\\ I r d This the_day of 20_
4.)By graphic plotting only, this property Is In Zone'C'on ex \ \,�` p.
Flood
e Rate
p, Community Panel No. 485494
effective date co of Marche 18,, 1985 and a and which
inan a an
l - '\ ; cej —J err•'ss•c arst +r S t
0540 C, Rather Pottumuthu,P.E..LEES AP
Flood Hazard Area. .9 \ \ t-----t, -� ,.'i . Development Development Services Engineer
\ \ err we. E...e 1J : 1
i
5.)The yard requirement, os depicted Is a requirement of \ \ p _ 1:; !R; State Texas
the Unified Development Code and is subject to change \ \ 0 I9 e_�; Countytaleof was
as the zoning may change. A 1 a A i NA'
Uebeel
Lot 3 �! I ' Thie final plat of the herein described property woe approved on behalf of the City of Corpus Chrleti,
2r 0 Awes ,,$ Texas by the Planning Commission.
6.)If any lot is developed with residential uses, compliance \ \ M.n s l o -
with the Public Open Space regulations will be required V A %!" ',z
during the building permit phase. \ \ This the_day of 20_
Public Access to Airline Road is conveyed to Block 1, Lot V A 9 ;,
3 through Block 1, Lot 2 by recordation of this plot. T, A �,Yi:
\\\ s er,e•ff•E fours I -- Doniel M.Crtmsbo,P.E.,A.I.C.P. Philip J.Ramirez,AIA,LEES AP,Chairman ,
Public Access to Rodd Feld Rood is conveyed to Block 1, A .'],/,',- Seo Secretary
Lot 3 through Block 1, Lot 4 by recordation of this plat. .\V \ a �'i,;, EQ
\
No private driveway access onto Lots 2, 3 and 4, Block _ �• \\ \ il",^ '' _.. State of feriae
1 the Former Airline Road. ,,.- , t^ \ County of Nueces
M Horna + '"�" l9' "
• 3\ I . s - I.Kara Sands,Clerk of the County Court In and for said County,do hereby certify that the foregoing
�� 11 , '8 instrument dated the day of 20_____.with Its certificate of authentication was
\ \ Lot 4 _I - - filed for record M my office the_day of 20___—At_O'clock_M.,and
�. \ \ 1.91 Aorto s duly recorded the_day of 20____.at_O'clock JA.,In sold County in
Volume_.Page Map Records.
\ l3 fA
\ 1 ....
\ \ 1'; ', Oraaland Witness mse
y hood and al of the County Court,h and for said County,at office in Corpus Christi.
\ - -- Texas,the day and year lost Witten.
State of Texas _q u' \ \\ I - ..
County of Nutmeg .4' \gg,, i' D„» filed
r \n\ for Record Kae Sande,County Clark
Point Develpoment.LLC,a Texas Limited Liability Company,hereby i' Bixk 2 i ur1 0 I • \!\ Nueces County,Texae
certifies that Itis the owner of the lands embraced within the III I to \ \ at O'clock_.M.
boundaries of the foregoing plat: that It hos had said lands ii 3 la !- 0a \ sap 1 20 By,
surveyed and subdividedle as shown: that streets shown ore
dedicated,in fee simple,to the public use forever, that easements I I �`l_ _ 1 Deputy
oe ehown are dedicated to the public use for the Installation, )• p
operation and use of public utilities;and that thie map woe made -�
for the purpose of doecrlptlon and dedication.
\1 of
Cotton Club Drive ..-\ I t; '1g
Thie the_day of 2S_. \ ..._ >. ,uE\ _-.r I t--} i 7 / __ Nuance
.t ` \ \ .'—'`-'\
Point Development. 'R —\ ,\ \ \\ \ \ ` / /� - State of Texae
U.C.LLC,o Texas Limited Liability Company j 10 \ \ • \ 7 / County of
\ ^��' I,Keith W Wooley,a Registered Professional Land Surveyor for Urban Engineering,have prepared the
u rr - Estates... n _` \ Y � 11 ala` foregoing map from o survey made o the ground under my direction and 1e true and correct to the
By \ 14':;-1'77
TE. _- R Pg•39 55 f _ _--\- \ '3 best of my knowledge,Information and belief; 1 hove been engaged under contract to set all Lot and
Fronk K.Mannln President ` _` M.k.n c.! \` is y\ Block comers ce Mown herein and to complete such operations with due and reasonable diligence
9. y o_
s J°'\ \ \ \ \\ A \\ . '\ '� �.'- -- -- consistent with sound profeaelonal practice.
State of Texas .\ , \\ \ 1 \Ricca,\` , \\ \• 8i"i \\'\
County of Nueces e \ K \ r
n\ \ +s '1__\_":\
R.\. \\ \-..:_‘"_-__...._._.:
Thls the__day of 20_
Me Net Po was acknowledged before me by Frank K.Monolog, \ \\I--\_ i —\ -'uu \ \`' — L-,4—_.
President of Point Development,LLC. 1 \` _\_._._—\:- �.—....i(-_,J \. __ — I .
...—--President's Mrs— / '!2 Keith W.Wooley,R.P.L.S.
.
This Ina_day of 20_— ---- �U R B A.,
ll DATE .9,2013
Texas License No.6163 1�.
e_
M , n Est; Ur ENGINEERING JOB NO.: 430/5.000I
Rock Moo R Vol.68.Fge,J-C,u9ry.Texas �._..� sex-is0a,, 020,-ae DRAM BY:of vIBH
Notary Public la and for the State of Texas ___ ___,,,,, ___. '.e I,___.
Exhibit 1
PUBLIC IMPROVEMENT PLANS
FOR
PUBLIC STORM SEWER &
WATER IMPROVEMENTS
TO SERVE
BRIGHTON PARK ADDITION NO. 2
CORPUS CHRISTI, TEXAS
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OPC Si44p 94CIS SICCTCYSI
CCMWID BELOW 444(Q0 LECIID 21 wr OR
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CRY OF C.C.Fl•04t0 WATER 0C1443 1 Of 4 _
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CAT Of CG ST4442140 01700 047•13 2 Of•
CRT Of C.C.274.041tO 04700 Off 441.3 3 Of 4
OTT Of G.C.ST/1O/R0 WAILS MARS 4 Of 4
0131 Dr C.C.214108140 ST0410 20070 0C1Y3 1 Of 2
CRY or C.C.314w0810 SWAY 00000 0C141S1 1 Or 2
Aff
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011•.20151211
0110101e4122 ENGINEERING
JOB NO. 43015.00.00
DATE: NOVEMBER 2015 f
Exhibit 2 Page 1 of 2
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Eng: Rhodes Urban, PE Engineer's Opinion of Probable Cost December 16, 2015
By: Michael York, EIT for Public Improvements to serve Job No. 43015.00.00
Brighton Park Addition No. 2
ITEM DESCRIPTION QUAN. UNIT UNIT TOTAL
H PRICE I COST
A. WATER IMPROVEMENTS: '
1 8" PVC C-900 965 LF $79.25 t $76,476.25
2 8"Gate Valve and Box 3 EA $1,855.00 $5,565.00
3 Fire Hydrant Assembly 3 ; EA $4,500.00 $13,500.00
Tie to Ex. 12" PVC w/12"x8"Tapping Sleeve&8"
4 Tapping Gate Valve 2 EA $5,350.00 $10,700.00
5 18"45 Degree D.I. Bend 1 EA $350.00 ' $350.00
6 8"90 Degree D.I. Bend _ - 1 . EA $350.00 $350.00
r
7 Paving Repair - 45 SY $100.00 $4,500.00
8 Testing(Including Blow Off Valves) &Chlorination ! 1 LS $5,000.00 $5,000.00
9 Mobilization, Site Survey, &General Conditions 1 1 EA $5,500.00 $5,500.00
WATER SUB-TOTAL.T $121,941.25
i
TOTAL ESTIMATED CONSTRUCTION COSTS.i $121,941.25
1
ENGINEERING,TESTING,&STAKING FEES @ 12%: $14,632.95
t GRAND TOTAL: $136,574.20
r T
CITY REQUIRED PLUS 10%:f X 1.10
TOTAL REQUIRED SECURITY.I $150,231.62
Note:Unit Prices for this estimate were provided by the city of Coprus Christi
*Se * -•;r9 k
I .t '
Mt INNI0IN6INODES�•URBAN..•o ¢
.S 92606 @,0I�Vei°
,DSIV; 0 is
Urban Engineering Firm No. 145
2725 Swantner
Corpus Christi, TX 78404
1-361-854-3101 1 of 1
Exhibit 3
Charter Bank
December 15,2015
Issuance. At the request and for the account of Developer,Point Development LLC.,3535 South Staples
St.,Corpus Christi TX,78411,we,Charter Bank,801 Navigation Blvd Ste.100,Corpus Christi TX.,78408,
issue this irrevocable independent standby letter of credit number 8221 in favor of City of Corpus
Christi,Director of Finance,1201 Leopard Street 4th Floors,Corpus Christi,Texas 78401 in the maximum
aggregate amount of$150,231.62.
Undertaking. Charter Bank undertakes to City of Corpus Christi to pay City of Corpus Christi's demand
for payment in the form of Annex A(Payment Demand)or Annex B(Payment Demand after Notice of
Non-extension)completed as indicated and presented to Charter Bank at the above address of Charter
Bank at or before the close of business on the expiration date 12-15-2016. Presentation of and
demand under this Letter of Credit may be made be telefax sent from 361-826-3601 to 361-884-2401
with a cover sheet marked'URGENT.FAX PRESENTATION UNDER STANDBY LETTER OF CREDIT NO.
8221',and the documents received and printed out by Charter Bank shall be deemed to be original
under ISP98 Rule 4.15(Original,Copy,and Multiple Documents).City of Corpus Christi Is requested to
telephone Charter Bank at 361-884-7681 and to identify this Letter of Credit and City of Corpus Christi's
presentation being telefaxed that same business day,as a courtesy and not as a condition limiting
Charter Bank's obligations.
Overdrawing. If a demand exceeds the amount available,but the presentation otherwise complies,
Charter Bank undertakes to pay the amount available.
Expiration.The expiration date of this Letter of Credit is December 15,2016.
Automatic Extension. The expiration date of this Letter of Credit shall be automatically extended for
successive one-year periods from the then current expiration date,unless 90 or more calendar days
before the then current expiration date,Charter Bank notifies the City of Corpus Christi in writing by
certified mall or nationally recognized overnight courier at the above address that Charter Bank elects
not to extend the expiration date.
Payment. Payment against a complying presentation shall be made within three business days after
presentation at the place for presentation or by wire transfer to a duly requested account of the City of
Corpus Christi.
ISP98. This Letter of Credit is issued subject to the International Standby Practices 1998(ISP98),
(International Chamber of Commerce Publication No.590),to the extent not inconsistent with the laws
of the State of Texas,which laws govern this Letter of Credit,and more particularly with the provisions
of Chapter 5 of the Texas Business and Commerce Code currently In effect.
Issuer's Charges and Fees. Charter Bank's charges and fees for issuing,amending,or honoring this
Letter of Credit are for Point Development LLC's account and shall not be deducted from any payment
Charter Bank makes under this Letter of Credit.
Very Truly Yours,
!/William Hulsey
Executive Vice President William Hulsey T'P for Charter
4.
MLO#713700
(361)884-7681 • Fax(361)884-2401 • 801 Navigation,Suite 100 • Corpus Christi,Texas 78408
Exhibit 4 Page 1 of 3
Charter Bank
Annex A:Payment Demand
12/15/15
Charter Bank
801 Navigation Blvd Ste.100
Corpus Christi TX 78408
Re:Standby Letter of Credit Number 8221,dated December 15,2015, issued by Charter Bank
("Standby").
The undersigned Beneficiary demands payment of$150,231.62 under the Letter of Credit.
City of Corpus Christi states that Point Development LLC.,is obligated to pay to City of Corpus
Christi the amount demanded as provided in the Deferment Agreement between the City of
Corpus Christi and Point Development LLC,as Point Development LLC has not installed the
required improvements or vacated the plat of Point Development LLC within the time period
allowed in the Agreement. This Letter of Credit supports Point Development LLC's obligations
to the City of Corpus Christi under that agreement.
City of Corpus Christi requests that payment be made(at the place of presentation)or(by
wire transfer to the City of Corpus Christi's following account: Frost Bank,City of Corpus
Christi Combined Funds,Account Number 664012798,Routing Number 114000093
City of Corpus Christi,Texas
By its authorized officer:
(Signed and dated by the City Manager(including Interim or Acting)or any Assistant City
Manager or the Director of Finance(including Interim or Acting).The signature of such official
claiming such title together with title designation of the draw demand shall be conclusive on
the issuer without further exemplification or other proof of identity or title.)
(361)884-7681 • Fax(361)884-2401 • 801 Navigation,Suite 100 • Corpus Christi,Texas 78408
Exhibit 4 Page 2 of 3
Charter Bank
Annex B:Payment Demand after Notice of non-extension
12/15/15
Charter Bank
801 Navigation Blvd Ste.100
Corpus Christi TX 78408
Re:Standby Letter of Credit Number 8221,dated December 15,2015, issued by Charter Bank
("Standby").
The undersigned Beneficiary demands payment of$150,231.62 under the Letter of Credit.
City of Corpus Christi states that the Letter of Credit is set to expire fewer than 30 days from
the date hereof because Charter Bank has given notice of non-extension of the Letter of Credit
and no satisfactory replacement Letter of Credit has been timely received. The amount
demanded is required to secure the obligations of Point Development LLC.As provided in the
Deferment Agreement.
City of Corpus Christi requests that payment be made(at the place of presentation)or(by
wire transfer to the City of Corpus Christi's following account:Frost Bank,City of Corpus
Christi Combined Funds,Account Number 664012798,Routing Number 114000093
City of Corpus Christi,Texas
By its authorized officer:
(Signed and dated by the City Manager(including interim or Acting)or any Assistant City
Manager or the Director of Finance(including Interim or Acting).The signature of such official
claiming such title together with title designation of the draw demand shall be conclusive on
the issuer without further exemplification or other proof of identity or title.)
(361)884-7681 • Fax(361)884-2401 • 801 Navigation,Suite 100 • Corpus Christi,Texas 78408
Exhibit 4 Page 3 of 3
City of Corpus Christi,Texas
Department of Development Services
City of P.O.Box 9277
iiii-
Corpus Christi,Texas 78469-9277
(3�oru� at: 24 6 Leo 0
Located at: 2406 Leopard Street
Ch 1'l�7��
/�►/w xn+ (Corner of Leopard St.and Port Ave.)
-y -C
DISCLOSURE OF INTERESTS
City of Corpus Christi Ordinance 17112, as amended, requires all 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".
NAME: Point Development, LLC
STREET: 3535 South Staples Street CITY: Corpus Christi, Texas ZIP: 78411
FIRM is: ❑ Corporation ❑ Partnership ❑ Sole Owner ❑ Association j Other Limited Liability Company
DISCLOSURE 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 in the above named "firm".
Name Job Title and City Department(if known)
N/A
2. State the names of each "official" of the City of Corpus Christi having an "ownership interest"
constituting 3% or more of the ownership in the above named "firm".
Name Title
N/A
3. State the names of each "board member" of the City of Corpus Christi having an "ownership interest"
constituting 3% or more of the ownership in the above named "firm".
Name Board, Commission, or Committee
N/A
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 subject of this contract and has an "ownership interest" constituting 3% or
more of the ownership in the above named "firm".
Name Consultant
N/A
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: Frank K. Manning Title: President
(Print)
Signature of Certifying Perso -- - ate: N-1--1-- -�_\S -
K:\DEVELOPMENTSVCS\SHARED\LAND DEVELOPMENT\ORDINANCE ADMINISTRATION\APPLICATION FORMS\FORMS AS PER LEGAL\2012\DISCLOSURE OF INTERESTS Page 1 of 2
STATEMENTI27.12.DOC Exhibit 5
r • ,
DEFINITIONS
a. "Board Member". A member of any board, commission or committee appointed by the City Council of the City of
Corpus Christi, Texas.
b. "Employee". Any person employed by the City of Corpus Christi, Texas, either on a full or part time basis, but
not as an independent contractor.
c. "Firm". Any entity operated for economic gain, whether professional, industrial or commercial and whether
established to produce or deal with a product or service, including but not limited to, entities operated in the form
of sole proprietorship, as self-employed person, partnership, corporation, joint stock company, joint venture,
receivership or trust and entities which, for purposes of taxation, are treated as non-profit organizations.
d. "Official". The Mayor, members of the City Council, City Manager, Deputy City Manager, Assistant City
Managers, Department and Division Heads and Municipal Court Judges of the City of Corpus Christi, Texas.
e. "Ownership Interest". Legal or equitable interest, whether actually or constructively held, in a firm, including
when such interest is held through an agent, trust, estate or holding entity. "Constructively held" refers to
holding or control established through voting trusts, proxies or special terms of venture or partnership
agreements.
f. "Consultant". Any person or firm, such as engineers and architects, hired by the City of Corpus Christi for the
purpose of professional consultation and recommendation.
K:\DEVELOPMENTSVCS\SHARED\LAND DEVELOPMENT\ORDINANCE ADMINISTRATION\APPLICATION FORMS\FORMS AS PER LEGAL\2012\DISCLOSURE OF INTERESTS
STATEMENT1.27.12.DOC Fvhihi+ ci Donn 9 of 9
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Doc 2016. 000940
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Official Records of
NUECES COUNTY
KARA SANDS
COUNTY CLERK
Fees $83.00
Any nrovisinn herein which restricts the Sale/
Rental or use of the described
REAL PROPERTY because of Race, Color,
Religion/ Sex, Handicap, Familial Status/ or
National Origin is invalid and unenforceable
under FEDERAL LAW, 3/12/89.
STATE OF TEXAS
COUNTY OF NUECES
I hereby certify that this instrument was FILED
in file number sevuence on the dote and at the
time stumned herein by me, and was duly RECORDED
in the Official Public Records of
Hueces County, Texas
KARA SANDS
ff 73414, ~-
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/ C y of Corpus uOrisQ
D8folpmentServices/
Spec'afSe[v'ccz
2406 Leopard, Suite `C3