HomeMy WebLinkAboutResolution 2002-018
RESOLUTION NO. 2002-018
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF NORTH
RICHLAND HILLS, TEXAS, that:
1.
The City Manager be, and is hereby, authorized to execute the attached City-
Developer Agreement with Summit Bank concerning cost participation in the
construction of a portion of Shady Grove Road from it's intersection with Davis
Boulevard to a point approximately 300 feet east, as the act and deed of the City of
North Richland Hills, Texas.
PASSED AND APPROVED this the 25th day of March, 2002.
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Patricia Hutson, City Secretary
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APPROVED AS TO CONTENT:
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M~!e'~Jí1¡s. ~Jbl¡#0<OrkS Director
CITY/DEVELOPER AGREEMENT
STATE OF TEXAS §
§
COUNTY OF TARRANT §
KNOW ALL MEN BY THESE PRESENTS
This agreement is made by and between Summit Bank, hereinafter called the
Developer, and the City of North Richland Hills, Tarrant County, Texas, hereinafter
called City.
WHEREAS, the Developer owns a tract of land (the Property) described as
Brentwood Estates Addition, Block 1, Lot 1, North Richland Hills, Tarrant County,
Texas; and
WHEREAS, the Developer wishes to have Shady Grove Road improved to
provide better access to Developer's Property; and
WHEREAS, the City desires to have Shady Grove Road improved to facilitate
development and to reduce traffic congestion; and
NOW THEREFORE, the Parties agree as follows:
1.
The Developer will construct and advance the cost of construction of Shady Grove
Road from it's intersection with Davis Boulevard to a point approximately 300 feet east
of said intersection in North Richland Hills.
2.
The cost of the project will include all costs associated with the construction this section
of Shady Grove Road. The City of North Richland shall pay Developer one-half of the
construction cost, in an amount not to exceed $50,000. Upon completion, the
Developer shall provide final cost estimates and invoice the City for its portion.
3.
The Developer will construct Shady Grove Road in accordance with the construction
plans prepared by Michael Peeples Engineers and Planners, sealed on November 7,
2001 and approved by the City of North Richland Hills.
Summit Bank - Shady Grove Road
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WITNESS OUR HANDS this ;? ~ day of
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,2002
By:É~
./ Robert Harrison, President
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STATE OF TEXAS ) Corporate Acknowledgment
COUNTY OF TARRANT)
This instrument was acknowledged before me on the 2.5 day ~2002, by
VP \ .gc:rt.~~de:J' ummit Bank, a corporation, on behalf of said corporation.
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STATE OF TEXAS )
COUNTY OF TARRANT )
Corporate Acknowledgment
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This instrument was acknowledged before me on the ~<i day , 2002, by
Charles Scoma, Mayor of the City of North Richland Hills, Texas, a municipal corporation, on
behalf of said corporation.
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_,\,;.....~,,'-.. ALICIA RICHARDSON
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otary Public, State of Texas
Summit Bank - Shady Grove Road
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