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HomeMy WebLinkAboutC2016-486 - 9/30/2016 - NA 4 Dc c 2i i 1604250 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 Ocean Harbor II, LLC.,(the • "Developer"), in order to defer the completion of certain required public improvements prior to recording the final plat of Village By The Beach 2 PUD, 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 three hundred six thousand, seven hundred eighteen dollars and 49 cents ($306,718.49), 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, by signing this Agreement, the Developers represent that water and wastewater services are currently available to serve the subdivision; WHEREAS, by signing this Agreement, the Developers represent that they have completed all other subdivision and platting requirements under the UDC including required park dedications; WHEREAS, by signing this Agreement, the Developers represent that they have executed all park deferment agreements, maintenance agreements, and all special covenants required under the UDC, in accordance with the UDC; 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. 2016-486 9/30/16 , LLC-Village by the Beach 2 PUD vFinal Page 1 of 8 reement Template Version 1.0 4.21.16 Ocean Harbor II LLC INDEXED • NOW, THEREFORE, for the consideration set forth in this Agreement, the City and Developers agree as follows: 1. The preamble to this Agreement is substantive content in this Agreement 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, and in consideration of Developers representations in the preamble to this Agreement, 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 precedent to the City's obligations under this Agreement, the Developers must deposit with the City three hundred six thousand, seven hundred eighteen dollars and 49 cents ($306,718.49), 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 Deferment Agmt Ocean Harbor II, LLC-Village by the Beach 2 PUD vFinal Page 2 of 8 Standard Form Deferment Agreement Template Version 1.0 4.21.16 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, redemption, restrictions, limitations, and must be made subject to this Agreement shall be as further set out in the addendum attached to this Agreement, the content of which is incorporated by reference into this Agreement as "Addendum A." The parties agree that, should there be, by the attachment and incorporation of Addendum A to this Agreement, any conflict in the terms, conditions, or requirements stated in this Agreement (including its exhibits) and Addendum A, the provisions of Addendum A take precedence and prevail over conflicting terms in the Agreement and its exhibits. All other provisions in the Agreement (and its exhibits) not in conflict with Addendum A 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 Deferment Agmt Ocean Harbor II, LLC-Village by the Beach 2 PUD vFinal Page 3 of 8 Standard Form Deferment Agreement Template Version 1.0 4.21.16 Improvements by the City, whichever is later, any balance remaining of all monies received by the City from the Developers. 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 8.1.10.8 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 Addendum A, 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 Deferment Agmt Ocean Harbor II, LLC-Village by the Beach 2 PUD vFinal Page 4 of 8 Standard Form Deferment Agreement Template Version 1.0 4.21.16 (60) days of the completion of construction of the Deferred Improvements and settlement of the actual construction costs. 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 Addendum A 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. Deferment Agmt Ocean Harbor II, LLC-Village by the Beach 2 PUD vFinal Page 5 of 8 Standard Form Deferment Agreement Template Version 1.0 4.21.16 1 . 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 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 12 months from the date executed by the last party signing this Agreement. (EXECUTION PAGES FOLLOW) Deferment Agmt Ocean Harbor II, LLC-Village by the Beach 2 PUD vFinal Page 6 of 8 Standard Form Deferment Agreement Template Version 1.0 4.21.16 EC TEDgNE OR GINAL and made effective this 30 " day of , 20 W. CITY OF CORPUS CHRISTI P. O. Box 9277 Corpus Christi, TX 78469-9277 (361) 826-3240 Office (361) 826-4428 Fax oiviiti Cjji.dtAA,... SignatureDatAtti L • Printe Name: P"l �( V1h Titl : Assistant City Manager, or Designee THE STATE OF TEXAS § § COUNTY OF NUECES § T is instrument was acknowledged before me on �O 20 l(Q by GI,�i Q_l M" -' - 4.n , 142�(�r�'ti cella rti- e.10 -vi c2L (title) for the City of Corpus Christi, Texas. :.• pia., UtTRA V PENA z°O!'.';'''&.' NOTARY PUBLIC f. ��� :N; :.,�•., .+� State of Texas (� ''•' ov '' Comm.Exp.12-02-2019 C-Akk-,--,,___k 17 Notary Public's Signature APPROVED AS A STANDARD FORM LEGAL DOCUMENT: / er l Z , 20 16 . CITY ATTORNEY iivioot. til,t,,c_i Signature 2 I Printed Name: Ijk ( c vr' ( Title: Assistant City Attorney Deferment Agmt Ocean Harbor II, LLC-Village by the Beach 2 PUD vFinal Page 7 of 8 Standard Form Deferment Agreement Template Version 1.0 4.21.16 DEVELOPERS: Ocean Harbor II, LLC. 4418 Ocean Drive Corpus Christi, Texas 78412 (361) 851-0811 (361) 851-8122 Fax Signature Printed Name: Willard H. Hammonds II Title: President r Date: S+� by �� 7- Q l'0 STATE OF -v�1�t S § COUNTY OF /i/U ePS § This instrume t was acknowledged before me.,)on , 20/'� by It i�I//fr/I/, Namfii& // , 1%�'�s ia'e-i (title) of Ocean Harbor II, LLC., a Texas corporation, on behalf of said corporation. NotaryPublic's Signature KENE D SAPENTER g My Commission Expires October 15,2017 Attached and incorporated by reference into this Agreement: Exhibit 1 – Plat (2 pages) Exhibit 2 – Required Public Improvements (14 pages) Exhibit 3 – Cost Estimate (1 page) Exhibit 4—Copy of Financial Security Exhibit 5 – Disclosure of Interests (2 pages) Addendum A – If applicable pursuant to paragraph 6 Deferment Agmt Ocean Harbor II, LLC-Village by the Beach 2 PUD vFinal Page 8 of 8 Standard Form Deferment Agreement Template Version 1.0 4.21.16 g pe6paiMou)oe 2 1 0 fn r- 0 0 oD -1-1 mz D 171 0 3 2 a m CO m s co 3 a _ 0 Co z an w zm 8% o O 3 0 - I c l9 mn n 2 9 ti 4 mm o gn 9 PLAT OF VILLAGE BY THE BEACH 2 P.U.D. BEING A REPLAT OF LOT 22, 23 & 24, BLOCK 52. PADRE ISLAND -CORPUS CHRISTI, SECTION 8. A MAP OF WHICH IS RECORDED IN VOLUME 34. PAGES 15-16, M.R. N .. TEXAS AND CONTAINING 1 45 ACRES OF LAND NaismithEngineering,Inc ARCHITECTURE. ENGINEERING. ENVIRONMENTAL. 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CORPUS CHRISTI,NUECES COUNTY,TEXASPROJECT n s ::0 0.11201.1 .n:o,�.._ an �F^ti th Engineer Estimate of Construction Costs DI 9far 4501 awa.rRoad.no.d. Corpus a.r541I,TX 78411 MTA149000 rat 741-814,401 Title: Village By the Beach II-PUD Date of Estimate: July 26,2016 Owner: Ocean Harbor 11.LLC NEI Engineer: Craig Thompson,P.E. Contact: Alex Harris NEI Contact: 4418 Ocean Drive 4501 Gollihar Road Address: Address: Corpus Christi,Texas 78412 Corpus Christi,Texas 78411 Phone: 361-533/7286 Phone: (361)814-9900 e-mail:ohharris@me.com e-mail:cthompson@naismith-engineering.com Public Improvements- Updated City Costs S. Storm Vs ater Pollution Pres cation TOTAL COST I I I I I N DESCRIPTION QUANTITY UNIT CONTE a UNIT I Stabilized Construction Entrance 1 LS $750.00 $750.00 Reinforced Strall Wattle Fence 556 LF $1.10 $610.99 3 Inlet Protection 1 LS $500.00 $500.00 I. .Sturm Hater Pollution Prevention Subtotal: S1,860.90 B. Site Pre I aration and Im,rovements ITESI NO. DESCRIPTION QUANTITY UNIT CONTRACT UNIT TOTAL COST PRICE I Site Pre.aration I AC MEM $1 000.00 $1 450.00 2 Site Gradin_ I $10 000.00 $10 000.00 3 Existin:Waterline removal 1 $5 500.00 $5 500.00 4 Remove Existin:Sanita Manhole-Brick I WM= $1 000.00 $1 000.00 5 R- s -E• t iSTIU IIIMJ[u4111.1111111111111 1 $1 000.00 $1 000.00 B. Site Preparation and Improvements Subtotal: S 18,950.00 C. Sanitar'Sewer Im I rovements 17E5150. DESCRIPTION QUANTITIUNIT - CONTRACT UNIT TOTAL COST PRICE I 8" 3'-7' Gravi Sani. Sewer 207 LF t t $15 525.00 3 6" 3'-7' Gravi Sani• Sewer 290 LF $60.00 $17 400.00 3 Sanita Sewer Manhole 1 EA $9 000.00 $9 000.00 4 Sanita Sewer 8"Cleanout 6 EA $1 000.00 $6 000.00 Sanita Sewer Service Connections-Sin'le 2 EA $1 000.00 $2 000.00 6 Sanita Sewer Service Connections-Dual 11 EA $1 200.00 $13 200.00 7 Dewaterin_for installation of Sanita Sewer 497 LF $15.00 $7 455.00 (. Sanitary Bruer Improvements .Sulootal: v"11.580.00 D. Water lm,rovements rrrsI ms DESCRIPTION QUANTITY' UNIT CONTRACT UNIT TOTAL COST PRICE 1 'Water Service-Meter Bank 4 EA $4 500.00. $18 000.00 2 'Connect to Existin:Waterline-Meter Bank 4 EA $1,500.00 $6 000.00 274 LF $76 00 $20 824.00 Milli8"Valve 2 EA $1 500.00, $3 000.00 5 Connect to Existin'Waterline 2 EA $1 500.00 $3 000.00 3 Fire H drant Assembl 1 EA $4 500.00 $4 500.00 D. 11 titer Improvements Subtotal: S55,324.1111 E. Storm Im I rovements rrENI NO. DESCRIPTION QI'AN'TITY UNITilififflfil TOTAL COST 1 Post Inlet To. 1 LS $1 200.00 $1 200.00 2 18"RCP 38 LF $90.00 $3 420.00 E. Storni Improvements Subtotal: 14.6211.1111 F. Street Im I rovements ITESI NO. DESCRIPTION QUANTITY UNIT CONTRACT UNIT PRICE TOTAL COST 6"Reinforfced Concrete-Main Drive/Parkirr 2 300 SY $45.00 $103 500.00 Sidewalks 3 000 SF $8.00 $24 000.00 I: Street Improvements Subtotal: SI 27,50(1.0(1 Construction Costs: $278,834.99 Construction Costs at 110%: $306,718.49 ZE.OF. TPF �.. ' :Fqt l, 5.• t / *r: * i CRAIG B.THOMPSON d 1 • 89496r$ I • , •IiCEN Sv.4 Exhibit 3 DATE: 09 .2015 .111 BC Letters of Credit Department 1200 San Bernardo Ave. Laredo,TX 78040 Tel:(956)722-7611 Ext.26442 Fax:(956)794-8142 BA N a Email:icdepartment@ibc.com SWIFT: IBCLUS44 Page 1 of 2 We Do More Member International Bancshares Corporation-Member FDIC IRREVOCABLE LETTER OF CREDIT NO.SBP702507 DATE: September 13,2016 BENEFICIARY: APPLICANT: City of Corpus Christi Ocean Harbor II, LLC P.O. Box 9277 4418 Ocean Drive Corpus Christi,Texas 78469-9277 Corpus Christi,Texas 78412-2535 Attention: Finance Department AMOUNT: $306,718.49 EXPIRATION: September 13,2017 Dear Sir or Madam: We hereby establish our irrevocable letter of credit("Irrevocable Letter of Credit") in favor of City of Corpus Christi ("Beneficiary") for the account of DEVELOPER, acting by and through its authorized agent Ocean Harbor II, LLC ("Applicant"), authorizing Beneficiary to draw on BANK, located in 1200 San Bernardo Avenue, Laredo, Texas 78040, ("Issuer") the amount of($306,718.49) Three Hundred Six Thousand Seven Hundred Eighteen and 49/100 U.S. Dollars, under Beneficiary's draft bearing the clause "Drawn under International Bank of Commerce Irrevocable Letter of.Credit No. SBP702507, dated September 13, 2016" and accompanied by all the following documents: I) The original of this Irrevocable Letter of Credit;and 2) The signed and dated statement of the City of Corpus Christi's City Manager, or any Assistant City Manager, Interim City Manager or Interim Assistant City Manager, or Acting City Manager or Acting Assistant City Manager, or the designee of each. The signature of such official claiming such title together with title designation on the draw demand shall be conclusive on the issuer without further exemplification or other proof of identity or title and further stating as follows: "That DEVELOPER has not installed the required improvements or vacated the plat of"Village by the Beach Resort Townhomes Phase II" DEVELOPMENT as required by its Deferment Agreement with the City of Corpus Christi,the Beneficiary,within the time period allowed." This Irrevocable Letter of Credit guarantees the obligations of the Applicant to the Beneficiary as provided in the Deferment Agreement. Partial drawings are not permitted under this Irrevocable Letter of Credit. This Irrevocable Letter of Credit is not transferable. Issuer hereby agrees with Beneficiary that upon presentment on or before 5 o'clock p.m. (CST), Laredo,Texas, local time no later than September 13. 2017, that drafts drawn under and in compliance with the terms of this Irrevocable Letter of Credit,Issuer will duly honor this Irrevocable Letter of Credit. This Irrevocable Letter of Credit is guaranteed for one (1) year from the date of issuance and it will be automatically extended, without amendments, for additional periods of one year, and at one year intervals Exhibit 4 Page 1 of 2 IBC-6094-01(10/12) •Q 1 EIC Letters of Credit Department 1200 San Bernardo Ave. Laredo,TX 78040 N . Tel:(956)722-7611 Ext.26442 Fax:(956)794-8142 BAEmail: Icdepartment@ibc.com SWIFT: IBCLIJS44 Page 2 of 2 We Do More Member International Bancshares Corporation-Member FDIC thereafter unless; (1) at least 90 days prior to the then current expiration date, Issuer notifies Beneficiary in writing by Certified Mail at the above address that Issuer has elected not to extend the expiration date of this Irrevocable Letter of Credit;or(2)at least 90 days prior to the then current expiration date, Beneficiary through any of the individuals named above notifies Issuer in writing by Certified Mail at the above address that Beneficiary has elected not to extend the expiration date of this Irrevocable Letter of Credit. In the event that notice of non-extension of the expiration date is given, failure to receive the automatic extension or a substitute Irrevocable Letter of Credit at least 30 days prior to the expiration of the then current Irrevocable Letter of Credit constitutes a default upon which the then current Irrevocable Letter of Credit may be called in its entirety, even though not stated above as a specific event of default. Upon Issuer notifying Beneficiary of the non-extension of the expiration of the Irrevocable Letter of Credit, Beneficiary may also draw under this Irrevocable Letter of Credit by presentation of Beneficiary's draft bearing the clause "Drawn under International Bank of Commerce Irrevocable Letter of Credit No. SBP702507, dated September 13, 2016" and accompanied by document (1 above without it being necessary for such drawing to be accompanied by document(2 above. This Irrevocable Letter of Credit sets forth in full the terms of the Issuers' undertaking and such undertaking must not in any way be modified,amended,or amplified by reference to any document, instrument or agreement referred to herein, or in which this Irrevocable Letter of Credit is referred to or to which it relates, and any such reference is not deemed to incorporate herein by reference any document, instrument, or agreement Issuer is not a party to, or bound by the terms of any agreement between Beneficiary and Applicant. Furthermore, this Irrevocable Letter of Credit cannot be amended except with the written concurrence of Issuer,the Applicant,and Beneficiary. This Irrevocable Letter of Credit is subject to and governed by the Institute for International Banking Law and practice's International Standby Practices 1998, ICC 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. Sincerely, Internation I Bank of Commerce • Wilfrey► �artinez,Jr 4411111111111jt Senior Vice Preside, Approved as to form this day of ,20 Assistant City Attorney City of Corpus Christi Approved as to form this day of ,20 Director of Finance Exhibit 4 Page 2 of 2 IBC-6094-01(10/12) City of Corpus Christi,Texas Department of Development Services Cit , O P.O.Box 9277 JV Corpus Christi,Texas 78469-9277 (361)826-3240 _d-I-4 Corpus Located at: 2406 Leopard Street _ -Chris ti(Comer of Leopard St.and Port Ave.) V VIS/ 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: DC e_44-71 /74/2_4404 _Ir. L L C__ STREET: ow Q ciewt, Dr. CITY: l,o Y�1S C1 g/Y t 1 ZIP: 7 e'S/a_ FIRM is: El Corporation ❑ Partnership ❑ Sole Owner vv❑Association ,®,Other t--L C 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) JOU0 .C_. 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 No6ve_ 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". NameBoard, Commission, or Committee W w 1 1/1 Moncis; h-t C 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 oN 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: W %LL4 .- rt- MA-moto ut6 L. Title: (Print) Signature of Certifying Person: Date: 1 , \L\\1 b K:\DEVELOPMENTSVCS\SHARED\LAND DEVELOPMENDORDINANCE ADMINISTRATION\APPLICATION FORMS\FORMS AS PER LEGAL\2012\DISCLOSURE OF INTERESTS Page 1 of 2 STATEMENT1.27.12.DOC Exhibit 5 • 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 ADMINISTRATIONWPPLICATION FORMSIFORMS AS PER LEGAL 20 12\DISCLOSURE OF INTERESTS STATEMENT1.27.12.DOC Exhibit 5 Page 2 of 2 • CERTIFICATE OF INTERESTED PARTIES FORM 1295 1 of 1 Complete Nos.1-4 and 6 if there are interested parties. OFFICE USE ONLY Complete Nos.1,2,3,5,and 6 if there are no interested parties. CERTIFICATION OF FILING 1 Name of business entity filing form,and the city,state and country of the business entity's t ' Certificate Number: of business. 2016-86841 Ocean Harbor II,LLC Corpus Christi,TX United States Date Filed: 2 Name of governmental entity or state agency that is a party to the contract for which the form is 07/19(2016 being filed. City of Corpus Christi Date Acknowledged: 3 Provide the identification number used by the governmental entity or state agency to track or identify the contract,and provide a description of the services,goods,or other property to be provided under the contract. Lots 22-24 Legal Description:Lots 22-24,Block 52 Padre Island-Corpus Christi,Section B Nature of interest 4 Name of Interested Party City,State,Country(place of business) (check applicable) Controlling Intermediary Hammonds,Willard Corpus Christi,TX United States X 5 Check only If there Is NO Interested Party. 6 AFFIDAVIT I swear,or air,under penalty of perjury,that the above disclosure is true and correct t" CAROL ANN HUTCHINSON My Notary ID ft 124722345 rq Expires October 27,2014 ature of authorized agent of contracting business entity AFFIX NOTARY STAMP 1 SEAL ABOVE J( / //this O ,+ Sworn to and subscribed before me,by the said kl Ilei /Y n7 I Iflf1ONOS �I this the / b day of 20 /d, ,to certify which,witness my hand and seal of office, &L -( N +�U� t� 14600 rte i1 1-ILtt4li050n0 4ee &mfg. C.!£& Signature of officer administering oath Printed name of officer administering oath Title of officer administering oath Forms provided by Texas Ethics Commission www.ethics.state.tx.us Version V1.0.277 • i2ein i,S Y1.6aAi-c_IVIA1.Q&o 101S110 From: friceciarefo C y of Corpus 6nristi De AN ipment Services/ Special Service.: 2406 Leopard, Suite CJ C)rpus Christi, TX 78408 ^ � , . . Doct 20 1 6042509 � Poses 32 10/06/2016 434PM Official Records of NUECES COUNTY KARA SANDS COUNTY CLERK Fees $139.00 Any nrovision 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 senuence on the date and at the time stomned herein by me, and was duly RECORDED in the Official Public Records of Nueces Counts, Texas KARA SANDS 47' �_1rk . � � ���� _