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HomeMy WebLinkAboutC2018-549 - 9/20/2018 - NA 11"11.,= 201 804.21 71=1 Third Extension of Deferment Agreement STATE OF TEXAS § COUNTY OF NUECES § THIS THIRD EXTENSION OF DEFERMENT AGREEMENT ("Extension") is made this 27th day of September, 2018, for the purpose of extending the Deferment Agreement between the City of Corpus Christi, a Texas home-rule municipality (City), Calallen Retail Partners, L.P., a Texas limited partnership ("Developer") and H-E-B, LP, a Texas limited partnership, formerly known as HEB Grocery Company, LP ("HEB") for Nueces River Irrigation Park, Block 2, Lots 21-28. 1. The Original Deferment Agreement (as amended by the Extension of Deferment Agreement, collectively the "Deferment Agreement"), attached hereto as Exhibit A and made a part hereof, will end on September 27, 2018. 2. Developer and the City agree to extend the Deferment Agreement for an additional period, which will begin upon the expiration of the original time period and will end on September 27, 2020. Developer or HEB is diligently pursuing the construction (i.e. permits, plans and bidding) of Deferred Improvements (subject to Force Majeure, as defined below). 3. This Extension binds and benefits both Parties and any successors or assigns. This document, including the attached Deferment Agreement, is the entire agreement between the Parties. 4. HEB agrees to extend the existing letter of credit to expire on September 27, 2020. HEB has agreed to provide the aforementioned letter of credit on Developer's behalf. In connection therewith and notwithstanding anything contained herein or in the Deferment Agreement to the contrary, in the event the Developer or HEB ceases to diligently pursue construction of Deferred Improvements (subject to Force Majeure, as defined below), the City shall provide written notice specifying the nature of such default to HEB and Developer at the addresses below within ten (10) days following such default and giving HEB and Developer thirty (30) days to cure such default from receipt of the written notice. If such default cannot reasonably be cured within that time period, and HEB or Developer has begun to diligently pursue actions to cure such default, the City shall not call the letter of credit prior to August 27, 2020 so long as HEB or Developer is diligently pursuing such actions for construction. All other terms and conditions of the Deferment Agreement remain unchanged. This Extension may be executed in a number of identical counterparts. If so executed, each of such counterparts is to be deemed an original for all purposes, and all such counterparts shall, collectively, constitute one instrument, but, in making proof of this instrument, it shall not be necessary to produce or account for more than one such counterpart. C2018-549 9/20/18 1 062007.00833 299645 v5 Calallen Retail Partners LP SCANNED As used herein, the term "Force Majeure" shall have the following definition: Each party shall be excused from performing an obligation or undertaking provided for in the Deferment Agreement for so long as such performance is prevented, delayed, retarded or hindered by an Act of God, fire, earthquake, flood, explosion, action of the elements, war, invasion, insurrection, riot, mob violence, sabotage, strike, lockout, action of labor unions, requisitions, laws, or orders of government or civil or military authorities. Notice Addresses for HEB: H-E-B, LP Attn: Jared O'Brien 8100 Cameron Road Building A, Suite 200 Austin, Texas 78754 With a copy to: Golden Steves & Gordon LLP Attn: Ami E. Gordon 200 E. Basse Road, Suite 200 San Antonio, Texas 78209 Fax: 210.745.3737 Notice Addresses for Developer: Durhman& Bassett Realty Group, Inc. Attn: Steve Durhman 100 East Anderson Lane, Suite 200 Austin, Texas 78752 With a copy to: Metcalfe Wolff Stuart& Williams, LLP Attn: Talley J. Williams 301 Congress Avenue, Suite 1200 Austin, Texas 78701 [Signature Pages to Follow] 2 062007 00833 299645 v5 EXECUTED and made effective this 27th day of September, 2018. CITY OF CORPUS CHRISTI: 1 464,4,1 q/ 0// F K ith Selman, Date Interim City Manager APPROVED AS TO LEGAL FORM: Vtf,A )11i't0 Buck Brice Assistant City Attorney for City Attorney Signature Page to Third Extension of Deferment Agreement 062007.00833 299645 DEVELOPER: CALALLEN RETAIL PARTNERS, L.P, a Texas limited partnership By: Calallen GP, LLC, a Texas limited liability company, its general p. er 0--By: ' 94d1/1' Nam•: ;teve Duhrman Date Title: Manager STATE OF TEXAS § COUNTY OF TRAVIS § BEFORE ME the undersigned authority on this day personally appeared Steve Duhrman, Manager of Calallen GP, LLC, a Texas limited liability company,the general partner of Calallen Retail Partners, L.P., a Texas limited partnership, on behalf of said limited partnership and said limited liability company. GIVEN UNDER MY HAND AND SEAL OF OFFICE on this the IZI4L day of September, 2018. DENA FINDLEY `�\�*wY Pve�� aZ; � Notery Public,State of Texas 'FS Comm. Expires 08-15-2020 '7,1;a,;`.` Notary ID 126628140 Notary P is- State of Texas Signature Page to Third Extension of Deferment Agreement 062007.00833 299645 HEB: H-E-B, LP, a Texas limited partnership By: I - Name: Benja n ' . c211 Title: Vice P -side • ' ==1 Estate SAFD STATE OF TEXAS § COUNTY OFBEXAR § `,l��, This instrument was acknowledged before me the I"C-`day of September, 2018, by Benjamin R. Scott, Vice President of Real Estate SAFD of H-E-B, LP, a Texas limited partnership, on behalf of said limited partnership. Oae JESSICA OLVERA Nota , 'ublic, in and for PUkcNOTARY PUBLIC The S • e of Texas * y State of Texas �rA�OF`FiP Comm. Ex..11-15-18 Attached and incorporated by reference into this Agreement: Exhibit A—Deferment Agreement Signature Page to Third Extension of Deferment Agreement 062007.00833 299645 • Exhibit A—Deferment Agreement [To Be Attached] Signature Page to Third Extension of Deferment Agreement 062007.00833 299645 JPMORGAN CHASE BANK, N.A. GLOBAL TRADE SERVICES 131 SOUTH DEARBORN,5th FLOOR MAIL CODE:IL1-0236 CHICAGO,IL 60603-5506 SWIFT:CHASUS33 TO: CITY OF CORPUS CHRISTI 1201 LEOPARD STREET,4TH FL FINANCE DEPT, PRISCILLA GARZA CORPUS CHRISTI,TEXAS 78401 DATE :25 Sep 2018 SUBJECT:STANDBY LETTER OF CREDIT AMENDMENT OUR REFERENCE :CDCS-875859 DEAR SIR/MADAM, AMENDMENT NUMBER : 1 ACCOUNT PARTY : HEB GROCERY COMPANY LP 646 SOUTH FLORES STREET CYPRESS 5,TREASURY SAN ANTONIO TEXAS 78204 WE HEREBY AMEND THE ABOVE REFERENCED STANDBY LETTER OF CREDIT AS FOLLOWS: NEW EXPIRY DATE : 27 SEP 2019 IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT SHALL BE AUTOMATICALLY EXTENDED WITHOUT AMENDMENT FOR ADDITIONAL 12 MONTH PERIODS FROM THE PRESENT OR EACH FUTURE EXPIRATION DATE,UNLESS AT LEAST 90 DAYS PRIOR TO THE CURRENT EXPIRY DATE WE SEND NOTICE IN WRITING TO YOU VIA REGISTERED MAIL, RETURN RECEIPT REQUESTED,OR BY HAND-DELIVERED COURIER AT THE ABOVE ADDRESS,THAT WE ELECT NOT TO AUTOMATICALLY EXTEND THIS LETTER OF CREDIT FOR ANY ADDITIONAL PERIOD. HOWEVER IN NO EVENT SHALL THIS LETTER OF CREDIT BE AUTOMATICALLY EXTENDED BEYOND THE FINAL EXPIRY DATE OF SEPT 20,2020. ALL OTHER TERMS AND CONDITIONS OF THE STANDBY LETTER OF CREDIT REMAIN UNCHANGED. All inquiries regarding this transaction may be directed to our Client Service Group at the following Telephone Number or Email Address quoting our reference CDCS-875859. Telephone Number: 1-800-634-1969 Email Address:gts.client.services@jpmchase.com Yours Faithfully, JPMorgan Chase Bank, N.A., VLitiltte Authorizedignature Organized under the laws of U.S.A.with limited liability United States CDCS-875859 25 Sep 2018 Page-1/1 Duct 2 - 7!04-3174 L Po,es 27 10/12/2017 3:11f PffIC1o1 Records of Extension of Deferment Agreement NUECESSAND5 COUNTY KARA COUNTY CLERK STATE OF TEXAS § Fees $119.00 COUNTY OF NUECES § THIS EXTENSION OF DEFERMENT AGREEMENT("Extension") is made this 14th day of July,2017, for the purpose of extending the Deferment Agreement between the City of Corpus Christi,a Texas home-rule municipality(City), Calallen Retail Partners, L.P., a Texas limited partnership("Developer") and HEB Grocery Company, LP, a Texas limited partnership("HEB") for Nueces River Irrigation Park, Block 2, Lots 21-28. 1. The Original Deferment Agreement, attached hereto as Exhibit A and made a part hereof, ended on September 27, 2014. 2. Developer and the City agree to extend the Original Deferment Agreement for an additional period, which will begin retroactively upon the expiration of the original time period and will end on September 27, 2018. 3. This Extension binds and benefits both Parties and any successors or assigns. This document, including the attached Original Deferment Agreement, is the entire agreement between the Parties. 4. HEB agrees to deposit Two Hundred Twenty Eight Thousand Eight Hundred and No 00'100 Dollars (S228,800.00) in the form of an irrevocable letter of credit,naming the City as beneficiary. The irrevocable letter of credit must be issued by a bank with Offices in Corpus Christi,Texas, for 110%of the cost of the Deferred Improvements as estimated by Developer's engineer and accepted by the City's Assistant City Manager of Development Services, as such costs are shown in Exhibit "3"of the Original Deferment Agreement which exhibit is attached to this Deferment Agreement and incorporated into this document by reference. The irrevocable letter of credit must be effective immediately with expiration date of September 27,2018 and containing the terms in Exhibit"B", Sample Letter of Credit. HEB has agreed to provide the aforementioned letter of credit on Developer's behalf. In connection therewith and notwithstanding anything contained herein or in the Original Deferment Agreement to the contrary, in the event of a Developer default, the City shall provide written notice of such default to HEB at the addresses below within ten(10)days following such default and giving HEB thirty(30)days to cure such default from receipt of the written notice. If such default cannot reasonably be cured within that time period,and HEB has begun to diligently pursue actions to cure such default, the City shall not call the letter of credit so long as HEB is diligently pursuing such actions to completion. All other terms and conditions of the Original Deferment Agreement remain unchanged. Copy Paget of 4 Notice Addresses for HEB: HEB Grocery Company, LP 646 South Main Avenue San Antonio, Texas 78204 With a copy to: Golden Stews Cohen&Gordon LLP Attn: Ami E. Gordon 300 Convent Street, Suite 2600 San Antonio,Texas 78205 Fax: 210.745.3737 EXECUTED IN ONE ORIGINAL and made effective this Z•-1 day of SL:preHde4017. CITY OF CORPUS CHRISTI: Wi iam 1. Green, P.E. Date Interim Director, Development Services Department City of Corpus Christi APPROVED AS TO LEGAL FORM: Wi/te){ Buck Brice Assistant City Attorney for City Attorney Page 2 of 4 CALALLEN ETAIL PARTNERS,L.P: 7?-ilgoi 7 Steve _ Ahrf%n.4h Date Ma ager Calallen Retail Partners, L.P. STATE OF TEXAS § COUNTY OF TRAVIS § BEFORE ME the undersigned authority on this day personally appeared Steve Durham, General Partner.Calallen Retail Partners, L.P.,and acknom ledged that he is fully authorized to execute the foregoing Development Agreement and that he executed such document for the purposes and consideration therein expressed and in the capacity therein stated. GI},'EN UNDER MY HAND AND SEAL OF OFFICE on this theaday of 2017. DENA FINDLEY --- iar; ;kz Notary Public,State of Texas Notary Public-State of Texas Comm.Expires 08.15-2020 001,,°„r Notary ID 126626140 Pate 3 ot'4 WEB GROCERY COMPANY. LP, a Texas limited partnership B): , Att_ kr Name: Ben '.cott Title: Vice • '.ent� STATE OF TEXAS § COUNTY OF BEXAR § This instrument was acknowledged before me the if dap of 14t.si.2017.b) Ben Scott.Vice President of HEB Grocery Company. LP, a Texas limited partnership. on behalf of said limited partnership. _LtiVa121) JESSICA OLVERA Notary b c,in and for 0 NOTARY PUBLIC The State Texas State of Texas comm,ex., 11.15-1B Attached and incorporated b) reference into this Agreement: Exhibit A - Original Deferment Agreement(19 pages) Exhibit B Sample Letter of Credit(3 pages) 1'aee 4 of 4 DEFERMENT AGREEMENT STATE OF TEXAS § Doc* 2012040053 § COUNTY OF NUECES § This deferment agreement ("Deferment Agreement") is entered into between the City of Corpus Christi, a Texas home-rule municipality ("City"), and Calallen Retail Partners, L.P. a Texas limited partnership ("Developer"), to defer the completion of certain public improvements prior to recording the final plat of Nueces River Irrigation Park, Block 2, Lots 21 —28 ("Plat"). The owners of the affected real property subject to the Plat and benefitted by this Deferment Agreement, to wit: Lois Lowman, Connie Diane Brown Polk Laing, Herman Bruce Lowman, NRIP, LLC, and Cloudcroft Land Ventures, Inc., seek to have the Developer, acting as agent on the owners' behalf, enter into this Deferment Agreement with the City to defer construction of the required real property public improvements. WHEREAS, the Developer is obligated under Section 8.1.11, of the Unified Development Code ("UDC") to construct seventy-five percent (75%) of the required public improvements before the final Plat is endorsed by the City Engineer for recordation; WHEREAS, the Developer is seeking to delay, for a period of two (2) years, the completion of construction of the required wastewater public improvements ("Deferred Improvements") and have the Plat filed immediately with the County Clerk of Nueces County, Texas, by entering into this Deferment Agreement with the City; WHEREAS, on September 12, 2012, the Planning Commission recommended execution by the City of this Deferment Agreement with the Developer, subject to the City Council affirmatively finding that there exists probable cause to delay the completion of public improvements in accordance with 8.1.10,B of the UDC; WHEREAS, the Developer will, prior to recording the Plat, deposit with the City an irrevocable letter of credit in the amount of Two Hundred Twenty Eight Thousand Eight Hundred and No 00/100 Dollars ($228,800.00), which represents 110% of the estimated cost of constructing the deferred public improvements; and WHEREAS, the Developer has completed all other subdivision requirements, park dedications, park deferment agreements, maintenance agreements, and special covenants required by Section 8.1.10.B. of the UDC, and water and sewer service are available to serve the affected real property that is the subject of the Plat. NOW, THEREFORE,for the consideration set forth in this instrument and subject to full compliance with the conditions stated in this Deferment Agreement by both parties, the City and Developer agree as follows: 1. The City shall waive the requirement that construction of the Deferred Improvements be at feast 75% completed before the final Plat, as shown in Exhibit"1," is endorsed by the City Engineer and filed for record with the County Clerk of Nueces County, Texas, and further agrees to allow the Developer to delay construction of the Deferred Improvements, as shown in Exhibit "2," for two (2) years from the date of final execution of this Deferment Agreement. Exhibit "1" and Exhibit '2" are attached to this Deferment Agreement and incorporated into this document by reference. 2. The Developer agrees to deposit Two Hundred Twenty Eight Thousand Eight Hundred and No 00/100 Dollars ($228,800.00) in the form of an irrevocable letter of credit, naming the City as beneficiary. The irrevocable letter of credit must be issued by a bank with offices in Corpus Christi, Texas,for 110% of the cost of the Deferred Improvements as estimated by Developer's engineer and accepted by the City's Assistant City Manager of Development Services, as such costs are shown in Exhibit "3," which exhibit is attached to this Deferment Agreement and incorporated into this document by reference. The irrevocable letter of credit must be posted by the Developer prior to the recording of the Plat with the County Clerk and, if the required letter of credit is not made by that time, this Deferment Agreement shall be null and void. 3. The form of the irrevocable letter of credit must be approved by the City's Director of Financial Services, be valid for a period of six(6)months or more, and require, as sole documentation for payment, a statement in writing from the Director of Development Services setting forth (i) the circumstances of default giving rise to the draft or (ii) the failure to furnish proof of renewal not less than thirty (30) days prior to the expiration of the then current letter of credit [see paragraph 4 below regarding renewal], and accompanied by a properly drawn draft not to exceed the face value of the letter of credit. 4. The Developer must ensure that the letter of credit is kept valid at all times. The letter of credit must be renewed by the Developer before expiration and proof of such renewal must be received by the City at least thirty (30) days prior to the expiration of the then current letter of credit. If no renewal is received, or cash in lieu thereof, the City may, after ten (10) days prior written notice to the Developer, 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 for this Deferment Agreement in lieu of the letter of credit. The City shall not be liable for interest on any letter of credit so called. 5. 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 of the Deferred improvements by the Developer. 6. The Developer 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 paragraph 5 above. Deferment Agreement.&.doc Page 2 of 6 7. Upon (i) completion of the Deferred Improvements by Developer within two (2) years from the execution date of this Deferment Agreement(or such later time as may be mutually agreed upon in writing by both parties, subject to adequate financial security and in no event extending beyond the maximum five-year completion time specified in the UDC); (ii) acceptance of the Deferred Improvements by the City Engineer; and (iii) compliance by the Developer with all remaining terms of the Deferment Agreement, the City Engineer shall: a. Immediately release Developer by mailing a release letter to: Calallen Retail Partners, L.P. Attn: Steve Durhman 100 E. Anderson Lane, Suite 200 Austin,Texas 78752 b. Return to the Developer within sixty (60) days of the completion of the construction of the Deferred Improvements and settlement of all 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 letter of credit or other financial security posted pursuant to this Deferment Agreement. 8. The City and Developer agree that, if the Developer formally vacates the Plat, with the approval of the Planning Commission, prior to the deadline for completion of the construction of the Deferred Improvements, any money received by the City from the Developer remaining on deposit will be released and immediately returned to the Developer. 9. If the Developer defaults in any of its covenants or obligations under this Deferment Agreement [excluding failure to timely renew the letter of credit, for which default conditions are addressed separately], the City Engineer will send written notice to the Developer and Project Engineer, advising Developer of the default and giving Developer thirty (30) days (or such longer period of time as may be reasonably necessary under the circumstances) from date of receipt of the notice letter to cure the default. If the Developer fails to cure the default after receipt of notice and opportunity to cure, the City shall call (redeem) the letter of credit and the City Engineer will transfer any monies received to the appropriate fund of the City to complete the Deferred Improvements 10. As accordance with the UDC, the City may require an increase in the financial security required under this Deferment Agreement on an annual basis if the Developer's engineer or the City reasonably determines that the financial security does not provide for 110% coverage of the estimated construction costs. Furthermore, the City may accelerate payment or performance or require additional financial security when the City deems itself insecure as to the prospect of payment or performance on a demonstrated, reasonable basis. in the event the Developer fails to deposit any increased security required, after Deferment Agreement doe Page 3 of 6 notice to the Developer and opportunity to cure, the City may deem this Deferment Agreement in default. 11. The City reserves the right not to issue Certificates of Occupancy for all or any portion of the affected real property that is the subject of the Plat until the Deferred Improvements are constructed, installed, completed, and accepted by the City Engineer in accordance with the provisions of this Deferment Agreement. 12. The Developer covenants to construct the Deferred Improvements required by this Deferment Agreement, and this covenant shall be a covenant running with the land. The City Engineer, at Developer's expense, shall file this Deferment Agreement in the official deed records of Nueces County, Texas. 13. No party may assign this Deferment Agreement or any rights under this Deferment Agreement without the prior written approval of the other party; provided, however, Developer may assign this Deferment Agreement to (i) an entity controlled by Cala!len Retail Partners, L.P. or (ii) HEB Grocery Company, L.P., without the prior written approval of the City so long as the assignee is held to comply with all conditions of this Deferment Agreement by a separate legally binding agreement and posts sufficient financial security, such financial security being subject to advance approval of the City. 14. Unless otherwise stated herein, any notice required or permitted to be given under this Deferment Agreement shall be in writing and sent by certified mail, return receipt requested. 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. For purposes of notice, the Developer's address is stated in paragraph 7, and the City's address is as follows: City of Corpus Christi Attn: Director, Development Services Department 2406 Leopard Street Corpus Christi,Texas 78406 15. This Deferment 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 Deferment Agreement are performable in Nueces County, Texas. Venue for all actions arising from or related to.this Deferment Agreement must be brought in Nueces County, Texas. 16. The Developer shall, in compliance with the City of Corpus Christi Ordinance No. 17112, complete, as part of this Deferment Agreement, the "Disclosure of Interests"form attached to this document as Exhibit "4." A completed version of Exhibit "4" by the Developer forms a part of this Deferment Agreement, the content of the completed form being incorporated by reference into this Deferment Agreement as if set out here in its entirety. Deferment Agreement 4 doc Page 4 cf 6 17. The parties agree that the language and provisions represented in the preamble (beginning) portions of this document are incorporated by reference into this Deferment Agreement as substantive content upon which the parties may rely. 18. All signatories signing this Deferment Agreement warrant and guarantee that they have the authority to act on behalf of the person(s)or entity(ies) represented and make this Deferment Agreement binding and enforceable by their signature. 19. This Deferment Agreement is to be executed in triplicate, each of which constitutes an original document. This Deferment Agreement becomes effective and is binding upon and inures to the benefit of the City and Developer, on behalf of the affected real property owners, from and after the date that all original documents have been executed by the signatories. EXECUTED in triplicate originals this day of , 2012. DEVELOPER: Calallen Retail Partners, L.P., a Texas limited partnership By: Calali-n GP,LLC,its general partner /19:1-- Ste • Durh an M-nager STATE OF TEXAS § § COUNTY OF TRAVIS § This instrument was acknowledged before me on the I S day of eine , 2012, by Steve Durhman, Manager,Calallen GP, LLC,who is the General Partne of Calallen Retail Partners, L.P., on behalf of said company. L Nota • blic,State of Texas ' ". -• JULIE CAWS t,' 1 Naar/Public.SWIG 01 Texas ;� -'r' MyOdor Exphu +.'r i,i.T. OCT.25,2012 Deferment Agreement 4 dcc Page 5 et 6 ATTEST: CITY a F CORPU Al'airit97- - .4 41._. I #1,-1 4-.'-e - Armando Chapa es•-•iersa ggi City Secretary Assistant CC? anager STATE OF TEXAS § § COUNTY OF NUECES § rlr.,ii , �� �,Q This instrument was acknowledged before me on the O� day of��Q k, y► 9cri 2, by Wes Pierson,Assistant City Manager, City of Corpus Christi,a Texas ho rule municipal corporation,on behalf o t e or ration. t •riTkMONIQUE TAMEZ LERMA > I 6 Notary Pubk ..r , f i • STATE OF TEXAS •�aa,ii. My corm.Exp.01.20-2013 > of=ry Pub! ,State of Texas A v vvvso'vvvv vv vt APPROVED AS TO FORM: ) . Q....., , 2012 ef, JLtQ Elizabpt Hundley Assistan City Attorney for Carlos Valdez, City Attorney gs42 � Z7( AU i Mitt i..... � SY ,t4�1L,. ..1 Sfaiiisino?.- Deferment Agreement 4 Coc Page 6 of 6 • , _ _ �. I w. roan .r too a...• t•er ®®© • 1 r CI alt .Wa1T 011CITSTI...41 Ar, 4At( m/N=� ' �' •• . •b 1�.iii:� O >a. .OW.11 corewor tom 0.Sr a Il.441 ©•zii.a r= ^•e,.._ C. 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Ly .'� .iS.. -Si.u.. ;•--. 4'`•,:..M.n_ i L:t:rLrA:i:.'•� lits • gggg1 s. - : Fd I - -- -- Page 6 of 6 01 .3 f } 11 EXHIBIT 3 NJJECES RIVER IRRIGATION PARK SUBDIVISION,LOTS 21-28 Opinon of Probable Costs•Public Wastewater Main Location: SE Corner of Northwest Blvd(FM 624)and FM 1889,Corpus Christi,Texas Date.August 31,2012 Prepared by Mark R.Johnson,P.E. Public Wastewater Main Wastewater Main 12"(offsite) 850 IF $ 90 $ 76,500 Wastewater Manhole(offsite) 3 EA $ 3,500 $ 10,500 Bored Jack under FM 1889 80 IF S 200 $ 16,000 Bore&Jack under side street 40 LF $ 200 $ 12,000 Sofe G Jack:•:hrt resi er.!iel lops 100 tF $ 200 $ 20,000 Wastewater connection to lift station(offsite) 1 LS $ 10,000 5 10,000 Wastewater Main 12"(onsite) 2400 IF S 75 $ 180,000 Wastewater Manhole(onsite) 8 EA $ 3,600 $ 28,000 Total $ 353,000 (Vella Wastewater-Master Plan $ 145,000 " Onsite Wastewater-Deferment Agreement Amount $ 208,000 BONDING AMOUNT(110%OF ABOVE TOTAL) S 228,800 "note the portion of the public wastewater rnah that Is part of the City's Master Plan is not requited to be part of the deferment agreement amount. VP.Cgi� . L'h GJ At�+�K ROgERT JOHNSON 1.00 82680 4,;-4,, f 1• tjtOFs UCENSE��G\`�� _�.rwf,� t` fr ,Y v _r �! '1J�� (lttQNA,,,, C NSULT4NTS SIGNATURE Note:This is 6,'5nginvr's Opinion of Probable Cost. Construction costs carnal be guaranteed until design is complete and qualified contractors have priced the work MCI 1E5'SCX 2V,'zste v3ter',4 h cdenslm:''e'.in:nari OPC publ4KIL'Man Mil'2•s ayy 1 AFFIDAVIT I I, Steve Durhman,confirm that the following are the true Owners of a 36.896-acre tract of land located in Nueces County,Texas, being the remaining portion of Lot 4, Block 2,Section 2, Nueces River Irrigation Park, a subdivision of record in Volume A, Page 54 of the Nueces County Map Records(the"Property"): Lois Lowman;Connie Diane Brown Polk Laing;Herman Bruce Lowman;NRIP,LLC, a Texas limited liability company;and Cloudcroft Land Ventures,Inc. I, Steve Durhman,certify that the Owners have appointed me to act as the Authorized Agent with respect to all matters concerning the platting and zoning of the Property and that I am authorized,with respect to the platting and zoning of the Property: Be the point of contact between the Owners and the City of Corpus Christi;make legally binding representations of fact and commitments of every kind on the Owners behalf; grant legally binding waivers of rights and releases of IlabRities of every kind on behalf of the Owners;consent to legally binding modifications;conditions, and exceptions on behalf of the Owners;and,to execute documents on behalf of the Owners which are legally binding on the Owners. I understand that the City of Corpus Christi will deal only with a fully authorized agent, At any time it should appear that I,Stave Durhman,Authorized Agent,have less than full authority to act,then the application may be suspended and the Owners will have to personally participate in the disposition of the application.I understand that all communications related to this application are part of an official proceeding of City government and,that the City will rely upon statements made by the Authorized Agent. Therefore,I agree to hold harmless and indemnify tho City of Corpus Christi,its officers,agents,employees,and third parties who act in reliance upon my words and actions from ait damages,attorney fees,interest and co is arising from this matter. (s4 Steve Durhtnan Date Acknowledgement THE STATE OF TEXAS§ COUNTY OF NUECES§ This Instrument was acknowledged before me on the / ,day of 1/45-0 ile, ,2012,by Steve Durhman. ii 'A`"! tie.,pubii,,s...i.re,.. DEItA FINDlE1' 67 t f- My Commission Evokes Notary Public, State of Texas, / / Nov:" August12 My commission expires: 6 A- 0_, Exhibit 4 C'le,of Copus Lilt-101,irrm Utfurunrm of Ut1100/71Bopncn St,.Kr. Erg Comus City U( Exhibit P.n i11f tomtit Glutin.fees 7S IG9 0?7l )acyrr� I,,9ltd at 3,10G t rnprd Strad C11riSti �. c)4 ?J tCn,ncr oil topmd Si and P.m.\.cI .0.001.001,.....o 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". cc/it /4 ( 1 /r / it;. /r I. .) /.,1( 7. . r , / at r / , , : •f(:, NAME: tr.. ( t /441,;•I t i , 1I a , q; . 1 . ', STREET: I''' ff tip t '' ' 't r/, ,. CITY: /,',. /, , ZIP: /1 . 5 .) FIRM Is: 0 Corporation ®Partnership 9 Sole Owner 0 Association ❑Other 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) � /' I /t. I; ; I( 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 /t.',i) 1,. 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 Alt)) rli 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 //„ .1) ii' 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 't/i I iI1'f' II,a, , \ Title /' ' I ,I y I (Print) Signature cf Certifying Person ). //'/ Dale: '%�'i.' /r C 1aXitai\r:411a511 Is,,S II±MU.,tiS ,0(1111',4, t(I.i t'a()I I'.I(R(iii StallNII'Il!7 I•INN' Exhibit ,., 1 GSC ' �� [ J yf 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,entitles operated In the form of sole proprietorship, as self-employed person, partnership, corporation,joint stock company, joint venture, receivershp 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. C[IOC E,ILs-rs I••'O SET1NCSYSLTTECO,dY TYX. VEYTSD;SCIOSVRE Of ME RUTS'CT TE}ffm?111 ilDOC Dod 201204005 i F-�19^s 19 CO/11/2012 3:12111 (,fficial Records of NIECES COUNTY DIANA T. RARRERA COUNTY CLERK Fees 487.00 A+ -vision herein which restricts the Sale, Rental or use of the described Ft1. :PERU because of Race, Color, Religion, Sea, Handicap, Familial Stati>, or N. ' mal Orie,n is invalid and unenforceable under FEDERAL LAW, 3/12/89. STATE OF 1EXAS COUNTY OF FIUECE1 1 hereby certify that this instrument was FILED i„ file number sequence on the doth and at the time stamped herein be net and was duly RECORDFD in the Official Fubllc Records of Nu -es County, Texas Diana T. Rarrrity AAA," 6iNtit C ? I. 4C1 Cf: C c' STANDBY LETTER OF CREDIT Issuance. At the request and for the account of Developer, (Name/Address), ("Applicant"), we, [Name of Bank, Address, City, Zip Code], ("Issuer") issue this irrevocable independent standby letter of credit number ("Standby") in favor of City of Corpus Christi,Director of Finance, 1201 Leopard Street 4`1'Floor,Corpus Christi,Texas 78401 ("Beneficiary") in the maximum aggregate amount of USD Undertaking. Issuer undertakes to Beneficiary to pay Beneficiary's demand for payment presented under and in compliance with the terms of this Standby in the form of Annex A (Payment Demand)or Annex B (Payment Demand after Notice of Non-extension)completed as indicated and presented to Issuer at the above address of Issuer at or before the close of business on the expiration date. Presentation of any demand under this Standby may be made by telefax sent from 361-826-3601 to[Issuer's telephone number(s)] with a cover sheet marked 'URGENT. FAX PRESENTATION UNDER STANDBY LETTER OF CREDIT[REFERENCE NO.]', and the document(s)received and printed out by Issuer shall be deemed to be original under ISP98 Rule 4.15 (Original, Copy, and Multiple Documents). Beneficiary is requested to telephone Issuer at [telephone number(s)] and to identify this Standby and Beneficiary's presentation being telefaxed that same business day,as a courtesy and not as a condition limiting Issuer's obligations. If you present a drawing by telefax under this Standby you do not need to present the original of any drawing documents,and if we receive any such original drawing documents they will not be examined by us. In the event of a full or final drawing the original Standby must be returned to us by hand delivery, U.S. Postal Service mail, registered mail or certified mail or by express courier or overnight courier. Overdrawing. If a demand exceeds the amount available,but the presentation otherwise complies, Issuer undertakes to pay the amount available at such time. Expiration.The expiration date of this Standby is Automatic Extension. The expiration date of this Standby 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, Issuer notifies Beneficiary in writing by certified mail or nationally recognized overnight courier at the above address that Issuer 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 Beneficiary. ISP98. This Standby 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. Issuer's charges and fees for issuing, amending, or honoring this Standby are for Applicant's account and shall not be deducted from any payment Issuer makes under this Standby. Very Truly Yours, Standard Form Letter of Credit Template Version 1.0 9.4.15 Exhibit B Page 1 of 3 [Name of Bank] Authorized Signatory Annex A: Payment Demand DATE NAME/ADDRESS OF ISSUER(ABOVE) Re: Standby Letter of Credit number , dated issued by (Issuer) ("Standby"). The undersigned Beneficiary demands payment of USD under the Standby. Beneficiary states that Applicant is obligated to pay to Beneficiary the amount demanded as provided in the Deferment Agreement between Beneficiary and Applicant, as Applicant has not installed the required improvements or vacated the plat of Applicant within the time period allowed in that Agreement. This Standby supports Applicant's obligations to Beneficiary under that Agreement. Beneficiary requests that payment be made by wire transfer to Beneficiary'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 on the draw demand shall be conclusive on the issuer without further exemplification or other proof of identity or title.) Annex B: Payment Demand after Notice of Non-extension Standard Form Letter of Credit Template Version 1.0 9.4.15 Exhibit B Page 2 of 3 . � I I � V ) ' ' 14/9 ' '/)--.5)-1-1 9 KO-4 Attention: --- City of Corpus Christi Development Services 2406 Leopard St., Ste. 100 (78408) P. 0. Box 9277 Corpus Christi, TX 78469-9277 Doc 2018042170 Pages 33 09/27/2018 3:57PM Official Records of NUECES COUNTY KARA SANDS COUNTY CLERK Fees $139.00 Any provision 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 sequence on the date and at the time stamped herein by me, and was duly RECORDED in the Official Public Records of Nueces County, Texas KARA SANDS 95 r4+