HomeMy WebLinkAboutLegal DocumentDEVELOPMENT AGREEMENT
This Agreement is entered into this thud day of 1999, by and between the
CITY OF COLLEGE STATION, TEXAS, a Texas Home -Rule Municipal Corporation (hereinafter
referred to as the "City "), and FAIRFIELD PINNACLE,LTD. ,a Texas limited partnership (here inafter
referred to as "Developer ").
WHEREAS, Developer has entered into a contract to purchase the tract of land depicted and
described on the plat attached hereto as Exhibit "A" (hereinafter referred to as "Property "); and
WHEREAS, Developer has requested that the City Council rezone the Property (the "Zoning
Change ") to permit development of the Property as a multi - family apartment complex pursuant to
a zoning application which has been submitted by Developer or its consultants to the City connection
with the Property; and
WHEREAS, the City has required that Developer enter into this Agreement as a condition
of approval of a preliminary plat approved by the Planning and Zoning Commision of the City of
College Station on March 18, 1999; and
NOW THEREFORE, for and in consideration of the recitations above, and in consideration
of the promises and covenants herein expressed, the parties hereby agree and covenant as follows:
1. DEVELOPER'S OBLIGATIONS. Subject to the City granting the Zoning Change as
requested by Developer and Developer closing its acquisition of the Property, Developer agrees as
follows:
a. Developer agrees to dedicate and convey to the City at the time that the final
plat for the Property, as approved by the City, is recorded, additional right of way for Jones-
Butler Road over and across the portion of the Property which is described on Exhibit `B"
I2EVELOPMENT AGREEMENT - Page 1 \\CHI NMW AMVOLIWROUMEVE- 3M\NATALMVAIRFMMkDOC
attached hereto and made a part hereof to the extent such land has not then previously been
conveyed to the City; and
b. Prior to the issuance of any certificates of occupancy for any structures
located on the Property, Developer shall post or caused to be posted with the City the sum
of $44,495.63 as a fiscal deposit in connection with the improvement of Jones- Butler Road
adjacent to the Property. The City agrees to accept such deposit as payment in full for all
fiscal requirements in connection with the construction of Jones - Butler Road along the
frontage of the Property, and that the City shall not be entitled to levy any other assessment
or charge of any nature whatsoever against the Property or the owner of the Property in
connection with the construction of Jones - Butler Road.
2. GOVERNING LAW. It is understood that this Agreement shall be governed by, and
construed and enforced in accordance with, and subject to, the laws of the State of Texas. The
parties agree that performance of this Agreement shall take place in Brazos County, Texas, and that
venue shall he in the court of competent jurisdiction in Brazos County, Texas.
3. BINDING EFFECT. It is understood and agreed that this Agreement shall be binding upon
and shall inure to the benefit of the parties and their respective successors and assigns.
4. ENTIRE AGREEMENT. It is understood that this Agreement contains the entire agreement
between the parties and supersedes all prior agreements, arrangements, or understandings between
the parties relating to the subject matter. No oral understandings, statements, promises or
inducements contrary to the terms of this Agreement exist. This Agreement cannot be changed or
terminated unless in writing and agreed to by both parties. The parties agree that they have read the
terms of this Agreement and familiarized themselves with the requirements hereunder and agree that
they understand their rights and responsibilities hereunder.
DEVELOPMENT AGREEMENT - Page 2 \\ CHI_ NETWARE\ VOLI \GROUP\DEVE_SER\NATALIE\FAU&'M DDA.DOC
5. AUTHORITY. The City and Developer each state that they are each authorized to sign this
Agreement.
6. TIlVIE. Time is of the essence. Unless otherwise specified, all references to "days" shall mean
and refer to calendar days. Business days shall exclude all Saturdays, Sundays and Texas legal
banking holidays. In the event the date for performance of any obligation hereunder shall fall on a
Saturday, Sunday or Texas legal banking holiday, then that obligation shall be performable the next
following regular business day.
7. SEVERABILITY. If any of the terms and conditions hereof shall for any reason be held to
be invalid, illegal, or unenforceable in any respect, such validity, illegality, or unenforceability shall
not affect any other of the terms and conditions hereof and the terms and conditions hereof shall
thereafter be construed as if such invalid, illegal, or unenforceable terms and conditions had never
been contained herein.
8. COUNTERPARTS. This agreement may be executed in any number of identical
counterparts, and each counterpart hereof shall be deemed to be an original instrument, but all
counterparts hereof taken together shall constitute but a single instrument.
9. PRESUMPTION CONCERNING INTERPRETATION. This Agreement shall not be
construed more strictly against one party against the other merely by virtue of the fact that it may
have been prepared by counsel for one of the parties, it being recognized that all of the parties to this
Agreement have contributed substantially and materially to the preparation of this Agreement.
10. FURTHER ASSURANCES. In connection with this Agreement as well as all transactions
contemplated by this Agreement, each signatory party hereto agrees to execute and deliver such
additional documents and instruments and to perform such additional acts as may be necessary or
DEVELOPMENT AGREEMENT - Page 3 \\cal NETWARE\VOLI\ GROUP \DEVE_SER\NATALIE\FAIRFIELDDA.DM
appropriate to effectuate, carry out and perform all of the terms, provisions, and conditions of this
Agreement and all such transactions.
11. RECITALS. Any recitals in this Agreement are represented by parties hereto to be accurate,
and constitute a part of the substantive agreement.
12. CONDITIONS TO DEVELOPER'S OBLIGATIONS. Notwithstanding any provision
contained in this Agreement to the contrary, Developer's obligations under this Agreement shall be
subject to, as a condition precedent, Developer (or its assignee) closing the acquisition of the
Property. If Developer (or its assignee) does not close its acquisition of the Property, this Agreement
shall terminate and Developer shall have no obligations or liabilities hereunder. If an assignee of
Developer closes the acquisition of the Property, the purchaser of the Property shall be substituted
for Developer hereunder and FF Realty LLC shall have no further obligations hereunder.
Dated this the 67 9 day of 1999.
ATTEST:
CITY OF COLLEGE STATION
U -. .R
I - •
Fairfield Pinnacle, Ltd., a Texas limited partnership
Connie Hooks, City Se ary y: FF Pinnacle, LLC
a Texas limited liability company
General Partner
By: Fairfield Financial LLC
a Delaware limited liability company
Manager
By: FF Properties, Inc.,
a Delaware corporation
Manager
By: ZIL JeA��4
Glenn D. Joni
Vice President
I2EvEwpmENT AGREEMENT - Page 4 MCH1 NEMAMVOLIMOUPOEV8 S DOC
THE STATE OF TEXAS
3
COUNTY OF BRAZOS
This instrument was acknowledged before me on the day of 1999, by
MAYOR of the City of College Station, Texas, a T6cas Home Rule
Municipality, on behalf of 617municipality.
PRISCILU ELAINE HENCHEL
Notary Pubk Stat
My Ca M M B b 1 Won NOVEMBER 6
42 A I A J - e)
- NA I"
Notary Public, State of Texas
THE STATE OF TEXAS
COUNTY OF TARRANT
This instrument was acknowledged before me on the tqI day of 1999, by
GLENN D. JONES, VICE PRESIDENT of FF PROPERTIES, INC., a DelawAre corporation,
.. = nX on behalf of said
corporation and limited liability company.
�ti Fs:r.Fte �d IFS ;4- LLc-i
FF Povv� L Lci
Notary Public, State of Texas
SANDRA L. HILL
J ��` MY COMMISSION EXPIRES
�= 2001
March 25,
DEVELOPMENT AGREEMENT - Page 5 \\CHl_NETWARE\VOLI\ GROUP \DEVE_SER\NATALIE\FAIRFM=,kDW
LEGEND
• - 1/Y DIAMETER RFHAR FOUND
UTAESS OTHERRIA NOTED
O - 11r DIAMETER REBAR PLACED
(B.C.O.R.) - BRAZOS COLMTY DEED RECORDS
(B.C.OR.) - BRAZOS COUNTY OWICIAL RECORDS
(WW_CIST)- DEED ON PLATTED CALL
SCALE: 1 " =200'
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7A
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EDSEL G. JONES
CALLED 5.169 ACRES
VOLUME 1959, PACE 40
(B.C.O.R.)
(VACANT)
DOUBLETREE
CONDOMINIUMS
PHASE ONE
3. 90 ACRES
VOL. 6 PF US
(B.C.D.)L)
(CONDOMINIUM COMPLEX)
I
I
N441 8'19 "E
-) 4A28'1 — 5 9 2.2 8 '—
to
HOLLEMAN DRIVE
5d
WALLACE GROUP, INC.
a..xst a>,In
OWN
WOO
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AY
563
FA
OTS 1
Y OF
1
1
-15
OLLE
I
STA
1.654 ACRES
AUSTIN, TEXAS 78758
OUT OF THE 47.27 ACRE MDHAWK LTD. TRACT
3
C (326/869)
I. TO CITY OF COLLEGE STATION
2.00 ACRES
dy
'y VOL 3033 PG. 124
: OUT OF THE 47.27 ACRE MOHAWN. LM ?
TRACT 6
i
FOR PARKLAND REQUIREMENT
FOR HOLLEMAN ARMS COLLEGE APTS.
(326/665)
TO CrTY OF COLLEGE STATION !
VOL 516 PG. 55
J
y 8
3 ! 3
g
WALLACE GROUP, INC.
a..xst a>,In
ENGINEERS • PLANNERS • SURVEYORS
8225 CENTRAL PARK DRIVE
WACO, TEXAS 76712
a
9101 BURNET ROAD SUITE 110
1.654 ACRES
AUSTIN, TEXAS 78758
OUT OF THE 47.27 ACRE MDHAWK LTD. TRACT
C (326/869)
I. TO CITY OF COLLEGE STATION
'y VOL 3033 PG. 124
FOR PARKLAND REQUIREMENT
FOR HOLLEMAN ARMS COLLEGE APTS.
�J r 5B UNPLATTED
710 g
D- 6726'01- � FIELD NOTE (VACANT)
R - z5.00 T► POINT OF g�
T -23.92 `r FIELD NOTE BECINNINC a MOHAM( Lm
L - 36.16 REFERENCE 0.268 AC. TRA M CALLED 47'27 ACRES
CND N47M6'59 "W a POINT OF y VOLOW 32L PACE 669
34.57 +� BEGINNIN
a (B CO.R)
v�a 17.42 ACRE TRACT
1.11' ,0 DWAY VILLAGE, PHASE ONE $ s
lo VOLUME 422, PACE 867a g
4, (B.C.D.R.)
A- F4 1 5
" \ 16.321 ACRE TRACT
T� FAIRFIELD PINNACLE, LTD.
uj
�Q VOL. 3513 PACE 172 B.C.O.R. "1 C'j
•9` 16.235 ACRE T, M
PROPOSED LOT 2, BLOCK A N ° v C4 �r
OLLEMAN VILLAGE ADDITION In 1
N
0.268 ACRE R.O.W. z i
DEDICATION TRACT o '_V'47"E
_ 3/8" IRF
CRAIIFORD BURNETT LEAGUE LTD
0.268 ACRE TRACT
FAIRFIELD PINNACLE, . N
s ABSTRACT N0. 7 W
BRAZOS COUN". TZZAS VOL. 3513 PACE f72 B.C.O.R.
PROPOSED R.O.W. DEDICATION PER n
HOLLEMAN VILLAGE ADDITION g
S 4352'47" W 933.36' _ _ N
S43'S 47'W
45.0
TLS PROPERTIES, LTD LEARN "L
VOLUME 3091, PAGE 243
'
VOLUME B.C.O.R.)AGE 183
THE
WALLACE GROUP, INC.
ENGINEERS • PLANNERS • SURVEYORS
8225 CENTRAL PARK DRIVE
WACO, TEXAS 76712
9101 BURNET ROAD SUITE 110
AUSTIN, TEXAS 78758
(512- 833 -6828) (FAX: 512- 833 -6811)
EXHIBIT "B"
0.268 ACRES
ADDITIONAL R.O.W. DEDICATION
FOR JONES- BUTLER ROAD
CITY OF COLLEGE STATION
SEE FIELD NOTES ATTACHED
9698 -EXH- JONES- BUTLER,dwq 7 -26 -99 PLAT_
46
SA
5B 8
6A
68 ` y1r
EXHIBIT `B"
0.268 ACRE
ADDITIONAL R.O.W. DEDICATION
FOR JONES - BUTLER ROAD
FIELD NOTES FOR 0.268 ACRE TRACT OF LAND LOCATED IN THE CRAWFORD BURNETT
LEAGUE, ABSTRACT NO. 7, IN THE CITY OF COLLEGE STATION, BRAZOS COUNTY, TEXAS,
AND BEING THAT CERTAIN TRACT CONTAINING 0.268 ACRES CONVEYED BY ARAPAHO,
LTD. TO FAIRFIELD PINNACLE, LTD. BY SPECIAL WARRANTY DEED DATED JUNE 16, 1999
RECORDED IN VOLUME 3513 PAGE 172 OF THE OFFICIAL RECORDS OF BRAZOS COUNTY,
TEXAS; SAME BEING A PORTION OF THE RESIDUE OF A CALLED 17.42 ACRE TRACT AS
SHOWN ON THE PLAT OF WOODWAY VILLAGE, PHASE ONE, RECORDED IN VOLUME 422,
PAGE 867 OF SAID DEED RECORDS. SAID 0.268 ACRE TRACT BEING MORE PARTICULARLY
DESCRIBED BY METES AND BOUNDS WITH BEARINGS BASED ON THE MONUMENTED
EAST LINE OF HOLLEMAN DRIVE (N 00 °51'00" E - 846.23') AS SHOWN ON SAID PLAT AS
FOLLOWS:
COMMENCING AT A 1 /4 " DIAMETER REBAR FOUND IN THE EAST LINE OF HOLLEMAN
DRIVE, MARKING A POINT OF TANGENCY OF HOLLEMAN DRIVE, THE SOUTHWEST
CORNER OF A CALLED 3.90 ACRE TRACT AS SHOWN ON THE PLAT OF DOUBLETREE
CONDOMINIUMS, PHASE ONE, RECORDED IN VOLUME 533, PAGE 625 OF SAID DEED
RECORDS, ALSO MARKING THE NORTHWEST CORNER OF THE ABOVE MENTIONED 16.321
ACRE FAIRFIELD PINNACLE, LTD. TRACT AND THE RESIDUE OF THE 17.42 ACRES;
THENCE N 77 0 19'37" E - 94.33' LEAVING SAID LINE OF HOLLEMAN DRIVE, ALONG THE
SOUTH LINE OF SAID 3.90 ACRES, SAME BEING THE NORTHWESTERLY LINE OF THE 16.321
ACRE FAIRFIELD TRACT AND THE RESIDUE OF THE 17.42 ACRES TO A 1 /z" DIAMETER
REBAR FOUND FOR AN ANGLE POINT IN SAID LINE OF THE 3.90 ACRES AND THE
FAIRFIELD 16.321 ACRE TRACT AND THE RESIDUE OF THE 17.42 ACRES;
THENCE N 44 E - 592.28' PARTWAY ALONG THE SOUTHEAST LINE OF THE 3.90
ACRES AND THE SOUTHEAST LINE OF A CALLED 5.169 ACRE TRACT DESCRIBED IN A DEED
TO EDSEL G. JONES RECORDED IN VOLUME 1969, PAGE 40 OF THE OFFICIAL RECORDS OF
BRAZOS COUNTY, TEXAS, SAME BEING THE NORTHWEST LINE OF SAID 16.321 ACRE
FAIRFIELD PINNACLE, LTD. TRACT TO A 1 /z" DIAMETER REBAR PLACED FOR A CORNER
AND POINT OF BEGINNING OF THE HEREIN DESCRIBED TRACT;
THENCE N 44 E - 5.00' CONTINUING ALONG THE COMMON LINE OF THE 5.169 ACRES
AND THE 16.321 ACRE FAIRFIELD TRACT TO A 1 /z" DIAMETER REBAR PLACED IN THE
SOUTHWEST LINE OF A 40' WIDE STRIP OF LAND AS SHOWN ON THE ABOVE MENTIONED
PLAT OF WOODWAY VILLAGE, PHASE ONE, MARKING THE NORTH OR NORTHEAST
CORNER OF THE HEREIN DESCRIBED TRACT;
THENCE S 45 0 40'52" E - 530.21' ALONG THE SOUTHWEST LINE OF SAID 40' STRIP, SAME
BEING THE NORTHEAST LINE OF THE RESIDUE OF THE 17.42 ACRES TO A 1 /z" DIAMETER
REBAR PLACED FOR THE SOUTH CORNER OF THE 40' STRIP, MARKING THE EAST CORNER
OF SAID RESIDUE OF THE 17.42 ACRES AND AN ELL CORNER OF THE HEREIN DESCRIBED
TRACT;
THENCE N 43 0 52'47" E - 40.00' ALONG THE NORTH LINE OF THE HEREIN DESCRIBED TRACT,
SAME BEING THE SOUTHEAST LINE OF SAID 40' STRIP TO A 3/8" DIAMETER REBAR FOUND
IN THE SOUTHWEST LINE OF A CALLED 47.27 ACRE TRACT DESCRIBED IN A DEED TO
MOHAWK, LTD. RECORDED IN VOLUME 326, PAGE 869 OF SAID DEED RECORDS, MARKING
THE MOST NORTHERLY CORNER OF THE 40' STRIP AND AN ELL CORNER OF THE HEREIN
DESCRIBED TRACT;
THENCE S 45 0 40'52" E - 200.36' ALONG SAID SOUTHWEST LINE OF THE 47.27 ACRES, TO A
Vi" DIAMETER REBAR PLACED MARKING THE MOST EASTERLY CORNER OF THE HEREIN
DESCRIBED TRACT;
THENCE S 43 0 52'47" W - 45.00' ALONG THE COMMON LINE OF THE HEREIN DESCRIBED
TRACT AND A TRACT OF LAND CONVEYED TO TLS PROPERTIES, LTD, RECORDED IN
VOLUME 3022, PAGE 183 AND VOLUME 3091, PAGE 243 OF SAID OFFICIAL RECORDS TO A W'
DIAMETER REBAR PLACED FOR THE MOST SOUTH CORNER OF THE HEREIN DESCRIBED
TRACT, AND THE MOST EASTERLY CORNER OF SAID 16.321 ACRE FAIRFIELD TRACT;
THENCE N 45 0 40'52" W - 730.61' WITH THE NORTHEAST LINE OF SAID 16.321 ACRE
FAIRFIELD TRACT AND THE PROPOSED SOUTHWESTERLY LINE OF JONES - BUTLER ROAD
TO THE POINT OF BEGINNING.
SURVEYED: JAN ARY 99
F
o.N
GALE ARNOLD GAL ARNOLD R.P.L.S. NO. 3879
7� SSjNP
�URVE� pTE
WO# 9698
REF: PLAT A -A3852
9698- FN- 12.DOC