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2025-022 - Approve the Reimbursement Agreement with Forestbrook Public Improvement District No. 1 – Lone Star Planned Developments, LLC
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2025-022 - Approve the Reimbursement Agreement with Forestbrook Public Improvement District No. 1 – Lone Star Planned Developments, LLC
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5/14/2025 11:00:54 AM
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5/14/2025 10:58:57 AM
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CITY CLERK
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and this Agreement, and is not delinquent in payment of the Assessments and paying property <br />taxes, then following the inspection and approval of all PID Projects of an Improvement Area for <br />which the Developer seeks reimbursement of the PIIS Project Costs by submission of a Certificate <br />for Payment or City approval of a Closing Disbursement Request, the obligations of the City under <br />this Agreement to pay disbursements (whether to the Developer or to any person designated by <br />the Developer) identified in any Closing Disbursement Request or in any Certificate for Payment <br />are unconditional and not subject to any defenses or rights of offset except as may be provided in <br />any Bond Indenture. <br />3.8 Construction of PID Projects. All PID Projects shall be constructed by or at the <br />direction of the Developer in accordance with the Plans, Development Agreement, applicable City <br />ordinances and regulations, this Agreement and any other applicable written agreement between <br />the Parties related to property in the PID. Should the Plans, Development Agreement, or other <br />applicable written agreement(s) between the Developer and the City conflict with applicable City <br />ordinances and/or regulations, the Developer and the City agree that the Plans, Development <br />Agreement, or other applicable written agreement(s) between the Developer and the City shall <br />govern unless the Developer and the City agree to otherwise in writing. The Developer shall <br />perform, or cause to be performed, all of its obligations and shall conduct, or cause to be conducted, <br />all operations with respect to the construction of PID Projects in a good and workmanlike manner, <br />with the standard of diligence and care normally employed by duly qualified persons utilizing their <br />commercially reasonable efforts in the performance of comparable work and in accordance with <br />generally accepted practices appropriate to the activities undertaken. The Developer has sole <br />responsibility of ensuring that all PID Projects are constructed in a good and workmanlike manner,, <br />with the standard of diligence and care normally employed by duly qualified persons utilizing their <br />reasonable efforts in the performance of comparable work and in accordance with generally <br />accepted practices appropriate to the activities undertaken. The Developer shall, at all time, <br />employ adequate staff or consultants with the requisite experience necessary to administer and <br />coordinate all work related to the design, engineering, acquisition, construction, and installation of <br />all PID Projects to be acquired and accepted by the City from the Developer. If any PID Projects <br />are or will be on land owned by the City, the City hereby grants to the Developer a license to enter <br />upon such land for purposes related to construction (and maintenance pending acquisition and <br />acceptance by the City) thereof. Inspection and acceptance of PID Projects will be in accordance <br />with applicable City ordinances and regulations, unless such applicable City ordinances and <br />regulations conflict with the Plans, Development Agreement, and/or other applicable written <br />agreement(s) between the Developer and the City, in which case the inspections and acceptance <br />of PID Projects shall be in accordance with the specifications of the Plans, Development <br />Agreement, and/or other applicable written agreement(s) between the Developer and the City. <br />3.9 Securit"lly for PID Pro' ects. Prior to the completion and conveyance to the City of <br />any PID Project, the Developer shall provide or cause to be provided a maintenance bond relating <br />to the PID Projects, which maintenance bond shall be for a terrn of one (1) year from the date of <br />final acceptance of the applicable PID Project. Any surety company through which a bond is <br />written shall be a surety company duly authorized to do business in the State of Texas, provided <br />that legal counsel for the City has the right to reject any surety company regardless of such <br />company's authorization. to do business in Texas. Nothing in this Agreement shall be deemed to <br />prohibit the Developer or the City from contesting in good faith the validity or amount of any <br />mechanics or matefialman's lien and/or judgment nor limit the remedies available to the Developer <br />Reimbursement Agreement <br />Forestbrook Public Improvement District No. I Page 10 <br />018581.000001 \4908-9229-3155.vS <br />
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