HomeMy WebLinkAbout2014-190s:\Iegal\our documcnts\ordinances\Mexhibit 3 - ordinance amending gtm grant agreement.docx
ORDINANCE NO. 2011,14-190
AN ORDINANCE OF THE CITY OF DENTON, TEXAS APPROVING AN AMENDMENU
TO AN ECONOMIC DEVELOPMENT PROGRAM GRANT AGREEMENT DATE
AUGUST 16,2011 BETWEEN THE CITY OF DENTON AND GTM DEVELOPMENT, LT
AND PROVIDING AN EFFECTIVE DATE. I
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. The City Manager, or his designee, is hereby authorized to execute an
Amendment to Economic Development Program Grant Agreement (the "Amendment"), in
substantially the form of the Amendment which is attached hereto and made a part of this
ordinance for all purposes.
SECTION 2. The City Manager, or his designee, is authorized to exercise the City of
Denton's rights and duties as set forth in the Amendment.
S]"ICTION 3. This ordinance shall become effective immediately upon its passage and
approval.
PASSED AND APPROVED this the day of`,
2014.
,IS WATTS, MAYOR
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
4
BY:
APPR D Abe TO LEGAL FORM:
ANITA BURGESS, CITY ATTORNEY
BY:
June 3, 2014
STATE OF TEXAS )
COUNTY OF DENTON )
AMENQMENT'r0 ECONOMIC QEVEI..OPMI:N'l` PROGRAM GI ANT" AGREE:MENT
WITH GTM DEVELOPMENT, LTD.
This Amendment to the Economic Development Program Grant Agreement with GTM
Development, Ltd. is made and entered into as of the/play of Ja, 2014, by GTM
Development, Ltd., and the City of Denton, Texas, a Texas municipal corporation (the "City"),
Grantee and the City are individually referred to as a "Party" and collectively as the "Parties."
WHEREAS, on August 16, 2011, Grantee and the City entered into that certain
Economic Development Program Grant Agreement with GTM Development, Ltd. (the
"Agreement");
WHEREAS, capitalized terms used but not defined in this Amendment shall have the
meanings given to them in the Agreement; and
WHEREAS, the Parties desire to amend the Agreement to extend the investment deadline
to October 1, 2015.
NOW THEREFORE, for good and valuable consideration the receipt and adequacy of
which are hereby acknowledged, the Parties agree to amend the Agreement as follows:
1. Deadline. All references in the Agreement to October 1, 2014, are hereby
amended to read October 1, 2015.
2. Binding Effect. This Amendment will be binding upon and will inure to the
benefit of the Parties and their respective successors and permitted assigns.
3. Counterparts. This Amendment may be executed in one or more counterpart
copies, all of which will constitute and be deemed an original, but all of which together will
constitute one and the same instrument binding on the Parties. Delivery by facsimile or
electronic mail of this Amendment or an executed counterpart hereof will be deemed a good and
valid execution and delivery hereof.
Page 1
EXHIBIT 3
June 3, 2014
GTM DEVELOPMENT, LTD.,
A Texas limited partnership
By: CHV Management One, LLC
A Texas I ijoited liability coi pajiy '
General flivi IICI'
F�
By:
Het -AD. znua, as�agcr
Garare gcI�
Page 2
EXHIBIT 3
June 3, 2014
STATE OF "TWS
COUNTY OF Da ((a-r,-
This instrument was ACKNOWLEDGED before me on by
Herbert D. Weitzman, the Manager of GTM DEVELOPMENT, LTD, a Texas limited
partnership, in its capacity as the General Partner of CHV Management One, LLC, a Texas
limited liability company, on behalf of the limited partnership and the limited liability company.
W rp
LYNN VARELA
MY COMMISSION EXPIRES
:�F June24,2014 Notary Public
w" -- i- VO,
Printed Name of Notary Public
[SEAL]
My Commission Expires:
STATE OF
COUNTY
This instrument was ACKNOWLEDGED before me on by
Gar Herring, the Manager of GTM DEVELOPMENT, LTD, a as limited partnership, in its
capacity as the General Partner of CHV Management One, LLC, a Texas limited liability
company, on behalf of the limited partnership and the limited liability company.
Notary Public
C'
�Y-
Printed Name of Notary Public
[SEAL]
My Commission Expires:
':90N A EDMONDSON
PLI cl fj(;, State Of Texas
"O""MiSSion Expires
-Pt8mber 14, 2017
Page 3
sAtegal\our documents\contracts\14\amendment to gtm agr.doc
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GEORGE C. CAMPBELL, CITY MANAGER
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
APPZ( VED A$/1-0 LEGAL FORM:
ANIVJA(� BURGESS, CITY ATTORNEY
BY:
OF TEXAS §
COUNTY OF DENTON §
This instrument was ACKNOWLEDGED before me
George C. Campbell, City Manager of the City of Denton
Denton, Texas.
JENNIFER K. WALTERS
-f Notary Public, State o Texas
My Commission E
6,�Cernb!f 19, 2614
[SEAL]
My Commission Expires:
N
by
as on belia 'Itof the City of
Notary Public
Printed Name of Notary Public