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HomeMy WebLinkAboutResolution No. 2013-051 CITY OF THE COLONY, TEXAS RESOLUTION NO. 2013-051 A RESOLUTION OF THE CITY OF THE COLONY, TEXAS, APPROVING THE FIRST AMENDMENT TO A DEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF THE COLONY AND THE RESIDENCES OF AUSTIN RANCH, NO. 6, LTD.; AUTHORIZING THE MAYOR TO EXECUTE THE AGREEMENT; PROVIDING AN EFFECTIVE DATE. WHEREAS, the City has previously entered into Development Agreement on October 16, 2012 concerning Phase 6 of the development of the master-planned, multiuse project known as "Austin Ranch" located in The Colony; and WHEREAS, the City Council has determined it is in the best interest of the City to enter into the First Amendment to the previously approved development agreement with The Residences of Austin Ranch, No. 6, Ltd., which is attached hereto and incorporated herein as Exhibit "A." NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS: Section 1. The First Amendment to the Development Agreement with The Residences of Austin Ranch, No. 6, Ltd. which is attached and incorporated hereto as Exhibit "A", having been reviewed by the City Council of the City of The Colony, Texas, and found to be acceptable and in the best interest of the City and its citizens, be, and the same is hereby, in all things approved, and the Mayor is hereby authorized to execute the Agreement on behalf of the City of The Colony, Texas. Section 2. That this Resolution shall take effect immediately from and after its adoption and it is so resolved. PASSED, APPROVED AND EFFECTIVE this 1St day of October, 2013. APPROVED: By: 6 ~ E McC URRY, M76R ATTEST: rj`, CHRISTIE WILSON, CITY SECRETARY g ' ' t W APPROVED AS TO FORM: By: JEFF MOORE, CITY ATTORNEY II FIRST AMENDMENT TO DEVELOPMENT AGREEMENT This FIRST AMENDMENT TO DEVELOPMENT AGREEMENT (hereinafter referred to as the "Amendment") by and between THE RESIDENCES OF AUSTIN RANCH NO. 6, LTD., a Texas limited partnership (hereinafter referred to as "Developer"), and the CITY OF THE COLONY, TEXAS, a Texas home-rule municipality (hereinafter referred to as the "City"), is made and executed on the following recitals, terms and conditions. WHEREAS, on October 17, 2012, the City and Developer entered into the original Development Agreement (hereinafter referred to as the "Agreement") concerning the proposed replat of land consisting of Lots 7R, 8R, IOX-R, 11X, 12, and 13, of Block A of the Parks of Austin Ranch Addition, located in John B. Martin Survey, Abstract No. 827, City of The Colony, and the Town of Hebron, Denton County, Texas; and WHEREAS, the City and Developer desire to restate the mutual obligations of the parties with this Amendment. NOW, THEREFORE, for and in consideration of the agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the City and Developer agree as follows: SECTION 1. FINDINGS INCORPORATED. The foregoing recitals are hereby incorporated into the body of this Amendment and shall be considered part of the mutual covenants, consideration and promises that bind the parties. SECTION 2. AMENDMENT TO AGREEMENT. (a) Amendment to Agreement. That Section 4(b) of the Agreement is hereby amended to read as follows: "New Replat. The Developer covenants and agrees to file a plat application with the City by April 30, 2014, containing Lots 6, 7R, 8R, I OX-R, 11 X, 12 and 13, Block A. The parties to this Agreement agree that the City is not contracting for, or promising to, approve the New Replat, and that the City retains its complete lawful discretion to approve or deny the New Replat based on the level of discretion provided the City by law for the particular decision under consideration, including Section 212.005 of the Texas Local Government Code. Nothing in this Agreement is or should be considered or construed as contract zoning or the bargaining away of the City's governmental discretion." SECTION 3. MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Amendment: (a) Agreement and Amendment. All of the terms, conditions, and obligations of the Agreement, and any amendments remain in full force and effect except where specifically modified by this Amendment. (b) Amendments. This Amendment constitutes the entire understanding and agreement of the parties as to the matters set forth in this Amendment. No alteration of or amendment to this Amendment shall be effective unless given in writing and signed by the party or parties sought to be charged or bound by the alteration or amendment. (c) Applicable Law and Venue. This Amendment shall be governed by and construed in accordance with the laws of the State of Texas, and all obligations of the parties created hereunder are performable in Denton County, Texas. Venue for any action arising under this Amendment shall lie in the state district courts of Denton County, Texas. (d) Assignment. This Amendment may not be assigned without the express written consent of the other party. (e) Binding Obligation. This Amendment shall become a binding obligation on the signatories upon execution by all signatories hereto. Developer warrants and represents that the individual or individuals executing this Amendment on behalf of Developer has full authority to execute this Amendment and bind Developer to the same. City warrants and represents that the individual executing this Amendment on its behalf has full authority to execute this Amendment and bind it to the same. (f) Caption Headings. Caption headings in this Amendment are for convenience purposes only and are not to be used to interpret or define the provisions of the Amendment. (g) Counterparts. This Amendment may be executed in one or more counterparts, each of which shall be deemed an original and all of which shall constitute one and the same document. (h) Effective Date. The effective date (the "Effective Date") of this Amendment shall be the date of the latter to execute this Amendment by the Developer and the City. (i) Severability. The provisions of this Amendment are severable. If any paragraph, section, subdivision, sentence, clause, or phrase of this Amendment is for any reason held by a court of competent jurisdiction to be contrary to law or contrary to any rule or regulation have the force and effect of the law, the remaining portions of the Amendment shall be enforced as if the invalid provision had never been included. Time is of the Essence. Time is of the essence in the performance of this Amendment. Page 2 of 5 First Amendment to Development Agreement City of The Colony, Texas - The Residences of Austin Ranch No. 6, Ltd. I [The Remainder of this Page Intentionally Left Blank] Page 3 of 5 First Amendment to Development Agreement City of The Colony, Texas - The Residences of Austin Ranch No. 6, Ltd. THE PARTIES ACKNOWLEDGE HAVING READ ALL THE PROVISIONS OF THIS AMENDMENT, AND THE PARTIES HEREBY AGREE TO ITS TERMS. THIS AMENDMENT IS EFFECTIVE AS OF THE EFFECTIVE DATE AS PROVIDED HEREIN. THE CITY: THE CITY OF THE COLONY, TEXAS, a Texas home-rule municipality By: G 0/0 2 e McCo rry Mayor Date igned: (.3 ATTEST:! Christie Wilson, City Secretary STATE OF TEXAS § COUNTY OF DENTON § This instrument was acknowledged before me on the day of o. 2013, by Joe McCourry, Mayor of the City of The Colony, Texas, a Texas home-rule municipality, on behalf of said municipality. Notary Public, State of Texas My Commission Expires: ECHRISTIE NEU WILSON mmission Expires mber 22, 2017 Page 4 of 5 First Amendment to Development Agreement City of The Colony, Texas - The Residences of Austin Ranch No. 6, Ltd. DEVELOPER: THE RESIDENCES OF A USTIN RANCH NO. 6, LTD., a Texas limited partnership By: 42BCO, Inc., a Texas corporation, its General Partner y By: enneth D. Mabry Senior Vice Pre 4ide t Date Signed: ~Q STATE OF TEXAS § COUNTY OF DALLAS § This instrument was acknowledged before me on the day of , 2013, by Kenneth D. Mabry, Senior Vice President of The Resi ences of Austin Ranch No. 6, Ltd., a Texas limited partnership, on behalf of said partnership. Notar Publi ;-S, of Texas My Commission Expires: ~znnv n TATIANA D BELL My Commission Expires 9r« , AP May 27, 2015 Page 5 of 5 First Amendment to Development Agreement City of The Colony, Texas - The Residences of Austin Ranch No. 6, Ltd.