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12644
HE STATE OV TEXAS, § STUI T COST 11._ATIcIPATION
AGRUMENT BETWEEN THE CITY OIL
COUN'PY Or, DLN'roN § DENTON AND CHARLES GINNINGS
This Agreemont, made and ontored into as of Chill day
of by and between the City of Denton,
fax sa munici>al corp nation orgnnized and existing under the
laws of the State of Toxas, hereinafter referred to as "city",
and Charles Ginninga, heroinafter referred to as "developer";
t
1 WHEREAS, developer has reap-tvod app-oval for the development
r of Phase T, Section 7> of the Royal Ages Subdivision located
within the City of Denton, Texas, as shown o•.i Exhibit "A,"
attached hereto and incorporated by refore.lce; and
WHEREAS, pursuant to the ordinances tf the city, developer
V
is responsible for constructing the streets, drainage
facilities; water and sewer lines and other public facilities to
erve the subdivision, hereafter referred to as "Subdivision
Improvements"; and
III
W1lEKCAS, developer is required to boar one-half the cost of
constructing certain street and drainage improvements for that s
portion of Stuart Road adjacent to said subdivision, in
i accordance with Appendix "All of the Code of Ordinances of the {
City of Denton; and j
WHEREAS) pursuant to its capital improvements program, the
city has allocated funds for street and drainage improvements
o for Stuart Road; and
41 F WHEREAS) the parties hereto have determined it would be.
advantageous to both to undertake to construct the improvements
for Stuart Road at one time and share in the cost thereof; and
WjiEKMS, both parties have further determined that it would
be mutually sdvagtageous to construct the Stuart Road
improvements aoncur,rontly with the Subdivision Improvements so
as to increase ti9o total project size and receive the most
1
competitive price for the Stuart Road Improvements and the
Subdivision improvements;
i
NOW, TUREFORE, the parties agrae as follows;
1, Parti.cipat on, The city and developer shall jointly
partioipate in the coat of constructing street and drainage
improvements for that portion of Stuart Road adjacent to
developer's subdivision, hereafter referred to as "Stuart Road
Improvements," in the manner and amount as set forth herein,
2. Plans and Specifications. The city, at its own cost and
expenso, shall prepare and provide all plans and specifications
for the Stuart Road Improvements, The developer, shall prepare
E
and provide, at `his own cost and expense, all plans and
specifications for Subdivision Improvements,
3, yLoyopals, Bids and Contracts.
' (a) City shall prepare proposals to receive bids for Clio
Subdivision Improvements, the Stuart Road Improvements and other
related public; improvements in the area of Stuart Road which are
to be performed concurrently therewith, as provided for in the
` city's capital improvement program. The proposals shall be in a
form so that the bide received on the coat of the Stuart Road
Improvements may be determined separately from the Subdivision
! ImprevemsInrs.
I
(b) The city shall award the contract for the Stuart Road
Improvements to the lowost responsible bidder, if any, as
a
determined by the city, in accordance with state law and the
provisions of the proposal, P
f
(c) The developer may, but has no obligation to, contract
with the contractor awarded the contract for the Stuart Road n
r
Improvements, to construct the Subdivision improvements.
4, Participation of Construction Costs.
(a) Developer shall bear the cost of asphalt paving, tip
to seventeen feet in width and to a five incll depth, and
installing curb and gutter for one side of Stuart Road,
beginning at the south boundary line of developer's subdivision
and extending north to the north property line of said
subdivision,, amounting to approximately 910 faet, all as shown
on Exhibit "A," attached hereto,
PAGE TWO
ii
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RAW
(b) Developer shall boar tho cost of all drainage
improvements for Stuart Road as shown on the plans previously
submitted by developer for the StibdI.visioa Improvament:n and
app-Loved by thn city.
(o) Within ten days of the e.-cecution of the contract for
r,c~lstruction of the Stuart Road Improvemonts, r;he amount
developer ahall bear of the coats thereof shall be calculated
based upon the bids submitted and accepted and developer shall
I
execute an escrow agreement, in a form prepared by the city, and
make payment of developer's costa so calculahed in accordance
i
with said escrow agreement, a copy of which shall be attached
hereto. The parties hereto shall be governed by the terms of
said agreement as to the b_,ling`and payment of the developer's
i' cost of the Stuart Road Improvements.
5. Successors and. Aasij%ne. This agreement shall be binding
` upon and inure to the benefit of the parties hereto, their
successors and assigns.
6. Venue. Any suit brought by arty part hereto arising from
the performance or nonporformance oi, this agreement shall be
brought and maintained in Denton County, Texas.
IN WITNESS WHEREOV0 the parties to this agreement have
hereto set their hands, executed as to the _original and two
3
copies, on the date firut above written. `
i
u CITY OF DENTON$ TEXAS
BY:
ACTING CITY MANAGER
APPROVED AS TO LEGAL FORM ; t
DEBRA ADAMI DRAYOVI'TCH ;
CITY ATTORNEY DEVELOPER !
CITY OF DHNTONO, TEXAS
r ~ t
BYt itpt'._t-
G
a
PAGE. 'THREE
EXHIBIT °A"
Stuart Road Itlt~ rovomont
cost Participation
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