HomeMy WebLinkAboutResolution No. 2016-054CITY OF THE COLONY, TEXAS
RESOLUTION NO. 2016-0 5 Lf
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
THE COLONY, TEXAS, APPROVING THE TERMS AND
CONDITIONS OF A PARTIAL ASSIGNMENT OF CONTRACT
BY AND BETWEEN THE CITY OF THE COLONY AND LMG
VENTURES, LLC FOR THE PURPOSE OF COMPLETION OF
THE ELECTRICAL WORK ON THE WELL AND AERATION
EQUIPMENT FOR THE BOARDWALK DISTRICT OF
GRANDSCAPE; THAT THE FUNDING SOURCE FOR PARTIAL
ASSIGNMENT SHALL THE PUBLIC IMPROVEMENT
DISTRICT NO. 1; THAT SAID PARTIAL, ASSIGNMENT OF
CONTRACT SHALL BE INCORPORATED HEREIN AS
EXHIBIT "A"; AUTHORIZING THE CITY MANAGER TO
EXECUTE THE PARTIAL ASSIGNMENT OF CONTRACT;
PROVIDING AN EFFECTIVE DATE
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL, OF THE
CITY OF THE COLONY, TEXAS:
Section 1. That the City Council of the City of The Colony, Texas, has duly
reviewed and considered the Partial Assignment of Contract by and between the City of
The Colony and LMG Ventures, LLC for the purpose of completing the electrical work
on the well and aeration equipment at the Boardwalk District of Grandscape.
Section 2. That funding for said in the amount of $105,261.00 shall be
provided by the Public Improvement District No. 1.
Section 3. That this Contract, attached hereto as Exhibit "A", is found to be
acceptable and in the best interest of the City and its citizens, and the City Manager is
hereby authorized to execute the Contract on behalf of the City of The Colony, Texas, with
the terms and conditions as stated therein.
Section 4. That this resolution shall take effect immediately from and after
its passage.
PASSED AND APPROVED by the City Council of the City of The Colony,
Texas, this 201h day of September, 2016.
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Mccu ayor
ty of The Colony, Texas
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Tina Stewart, TRMC, City Secretary
APPROVED AS TO FORM:
?effMoore,ritytorney
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SEAL
'� rEX A► $,.,
PARTIAL ASSIGNMENT OF CONTRACT
This Partial Assignment of Contract ("Partial Assignment") is made effective as
of the � day of September, 2016, from LMG Ventures, LLC, a Texas limited liability
company (the "Assi or"), with an address of 700 S. 72nd Street, Omaha, NE 68114, to THE
CITY OF THE COLONY, TEXAS, a Texas home -rule municipality (the "Assignee"), with an
address of 6800 Main Street, The Colony, Texas 75056.
A. Pursuant to that certain Contract dated as of August 5, 2015, as per (the
"Site Work Contract") by and between Assignor and Boggs Electric Inc., Assignor engaged
Boggs Electric Inc. to construct certain site work within the "Boardwalk District" of the
Grandscape project located near the intersection of State Highway 121 and S. Colony Boulevard
in The Colony, Texas (the "Project"), all as more particularly described in the Contract.
B. A portion of the work to be completed by Boggs Electric Inc. pursuant to
the Site Work Contract relates to certain public infrastructure to be completed by Assignee on
property owned by Assignee (the "City Improvements") in accordance with the terms and
conditions of the Contract relating to the City Improvements.
C. In connection with construction of the City Improvements, Assignor and
Assignee intend and agree that all of Assignor's right, title and interest in and to the Contract
shall be assigned to Assignee, insofar and only insofar as the terms and conditions relate to the
City Improvements.
NOW THEREFORE, in consideration of Ten Dollars and other good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, Assignor and
Assignee agree as follows:
1. Assignment. Assignor hereby conveys and assigns to Assignee all of
Assignor's rights, title and interests in, to and under the Contract with respect to the City
Improvements, together with any and all rights relating thereto from and after the effective date
hereof, insofar and only insofar as the Contract relates to the City Improvements. Specifically,
the parties acknowledge and agree that the terms and conditions of the Contract and as shown in
Phase III and IV of the Bid Document totaling $105,261.00, all as more particularly described on
Exhibit A attached hereto and incorporated herein by reference relate solely to the City
Improvements and are hereby assigned to Assignee.
2. Assumption. Assignee hereby accepts this partial assignment of the
Contract, including without limitation Phase III and IV of the Bid Document, and assumes and
agrees to keep, perform and fulfill all of the duties, covenants, provisions, conditions and
obligations of Assignor under the Contract, including without limitation Phase III and IV of the
Bid Document, arising from and accruing from and after the effective date hereof, insofar and
only insofar as such duties, covenants, provisions, conditions and obligations pertain to
Assignee's ownership, use or activities related to the City Improvements.
4821.7099-8273 04
3. Indemnification. Assignor hereby agrees to indemnify, defend and hold
Assignee harmless from and against any and all liabilities, claims, damages, costs or expenses
(including reasonable attorneys' fees) arising from and against or relating to the Contract prior to
the effective date hereof To the extent allowed by law, Assignee hereby agrees to indemnify,
defend and hold Assignor harmless from and against any and all liabilities, claims, damages,
costs or expenses (including reasonable attorneys' fees) arising from or against or relating to the
Contract insofar and only insofar as such liabilities, claims, damages, costs or expenses pertain to
Assignee's ownership, use or activities related to the City Improvements on or after the effective
date hereof.
4. Binding_ Effect. This Partial Assignment shall be binding upon and insure
to the benefit of the parties hereto and their successors and assigns.
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IN WITNESS WHEREOF, the parties hereto have executed this Partial
Assignment as of the day and year first set forth above.
ASSIGNOR: LMG Ventures, LLC,
a Texas limited liability company
'P ///O_�
By:
Name: Z u-• 1,,..M-
Title: rq ee r
ASSIGNEE: THE CITY OF THE COLONY, TEXAS,
A Texas home -rule municipality
By:
Name: W -e -k
Title: i k � oLa Q G-ev
��. SEAL
rEx as�
4821 7099-8273 04