HomeMy WebLinkAboutC2021-295 - 11/12/2021 - NA SECOND AMENDMENT OF DEFERMENT AGREEMENT
STATE OF TEXAS §
COUNTY OF NUECES §
This is an amendment to the Deferment Agreement, Document Number 2020029842, as
amended between the City of Corpus Christi, a Texas home-rule municipality ("City"), and
Avanti Legacy Bayside, LP ("Developer") for Avanti Legacy Bayside, Lot 1 Block 1 ("Plat")
ending on November 15, 2021.
Whereas, Avanti Legacy Bayside, LP requests to extend the time for installation of the
required improvements.
NOW, THEREFORE, in consideration of the mutual covenants herein, the Parties agree to
amend the Deferment Agreement as follows:
1 . Developer and the City agree modify the termination date, to extend the Deferment
Agreement for ending on March 15, 2022.
2. Developer agrees to extend the letter of credit No. 1040 for successive one-year
periods until the Deferred Improvements are completed.
3. The time to complete Deferred Improvements in accordance with City's engineering
standards and the construction drawings approved by the City departments is
extended to March 15. 2022.
4. Time is of the essence in the performance of this Agreement. Failure to complete
Deferred Improvements in accordance with City's engineering standards and
construction drawings approved by the City departments by March 15, 2022, is a
default.
5. Upon default, the City may draw upon the Irrevocable Letter of Credit No.
ISB001873.
All other terms and conditions of the original agreement not in conflict with this amendment
remain effective and in full force.
EXECUTED IN ONE ORIGINAL this 12 day of ` Et , 2021.
SCANNED
CITY OF CORPUS CHRISTI
P. O. Box 9277
Corpus Christi, TX 78469-9277
(361) 826-3240 Office
(361) 8-;74428 Fax
Al Raymo�d III
Director Development Services Department
APPROVED AS FORM:
7i
Buck Brice (date)
Assistant City Attorney
DEVELOPER:
Avanti Legacy Bayside, LP.
8500 Shoal Creek Blvd
Building 4, Suite 208
Austin Texas, 78757
11j01(/70 1/
Enrique Flores IV Dat
President of H4 Development, Inc., being the
Sole member of Avanti Legacy Bayside GP, LLC, being the
General Partner of Avanti Legacy Bayside, LP.
THE STATE OF TEXAS §
COUNTY OF -Ir.r,R5 §
This instrument was acknowledged before me on Nwcr, , 2021, by Enrique
Flores IV- President of H4 Development, Inc., being the Sole member of Avanti Legacy
Bayside GP, LLC, being the General Partner of Avanti Legacy Bayside, LP.
/ "{`�a• JONATHAN ESTRADA
?• •° My Notary ID#132264182
R ary Public's Sign. r: J.'�F,:�.lo.,-,E}� Expires November 25,2023
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