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R2001-0075 06-25-01 Tabled TABLED 612512001 RESOLUTION NO. R2001-75 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS, AUTHORIZING THE CITY MANAGER OR HIS DESIGNEE TO ENTER INTO A LAND BANK AGREEMENT WITH AMVEST PROPERTIES, INC. ("AMVEST") FOR CONVEYANCE TO THE CITY BY AMVEST OF FEE SIMPLE INTEREST IN CERTAIN PROPERTIES FOR USE AS PARKLAND TO EASE THE BURDEN ON EXISTING PARK FACILITIES CAUSED BY FUTURE DEVELOPMENTS. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS: Section 1. That certain Land Bank Agreement by and between the City of Pearland and Amvest Properties, Inc., a copy of which is attached hereto as Exhibit "A" and made a part hereof for all purposes, is hereby authorized and approved. Section 2. That the City Manager or his designee is hereby authorized to execute and the City Secretary to attest a Land Bank Agreement with Amvest Properties, Inc., for conveyance to the City by Amvest of fee simple interest in certain properties for use as parkland to ease the burden on existing park facilities caused by future developments. PASSED, APPROVED and ADOPTED this the__ day of. , A.D., 2001. TOM REID MAYOR ATTEST: YOUNG LORFING CITY SECRETARY APPROVED AS TO FORM: DARRIN M. COKER CITY ATTORNEY bP, AFT: 6/19/01; 10:00 a.m. LAND BANK AGREEMENT THE STATE OF TEXAS § COUNTY OF BRAZORIA § 1. This Agreement is entered into by the City of Pearland (the "Citf'), acting through its City Manager, and Amvest Properties, Inc. ("Amvest"), acting through its President, Clinton Wong. 2. Amvest agrees to reserve the 56 acre tract of land described in Exhibit A attached hereto (the "Tract") for use by the City as parkland. During the term of this Agreement, Amvest shall refrain from selling, leasing, or otherwise conveying any interest whatsoever in any portion of the Tract to any entity except the City. 3. Amvest agrees to convey fee simple interest in one acre of land within the Tract to the City for every 100 dwelling units that Amvest will build within the corporate limits or ETJ of the City of Pearland. The City shall have the right to choose the location of the land conveyed pursuant to this paragraph. Amvest agrees to complete each conveyance prior to the approval of the plats for the corresponding dwelling units. 4. The City shall have the fight to purchase any amount of land within the Tract at any time during the term of this Agreement for the ])rices outlined in paragraph 10 below, provided that all parcels conveyed pursuant hereto are contiguous with property in the Tract already owned by the City. The first parcel conveyed to the City pursuant hereto shall be adjacent to the site of the regional detention lake described in paragraph 6 of this Agreement. 5. Amvest agrees to provide the City with an environmental assessment and wetlands delineation of all the land within the Tract prior to deeding any portion of the Tract to the City. If it is discovered that any land within the Tract requires environmental cleanup or mitigation, the City shall have the option to terminate this Agreement or to effect the environmental mitigation, which cost shall be reimbursed to the City by Amvest. If any land within the Tract is designated as wetlands by the U. S. Army Corps of Engineers, Amvest agrees to perform sufficient mitigation to remove said designation prior to conveying the land to the City. 6. The City shall designate a 16 acre site (the "Site") located in the Tract and adjacent to Hickory Slough for the construction of a regional detention lake for Amvest's purposes. Amvest agrees to design and construct the lake in accordance with the City of Pearland Drainage Criteria Manual and the depth of the lake shall be determined by the City Engineer. The lake shall be constructed as a wet bottom lake and shall have an aeration system and be built with concrete sides that extend below the water surface. If construction of the lake is not started during the term of this Agreement, the City shall have the right to purchase the Site designated for the lake at the price set forth in subsection (a) of paragraph 10. Upon completion of the lake, Amvest agrees to convey fee simple interest in the Site to the City. 7. Amvest hereby grants a drainage easement in the Tract so as to allow any portion of the Tract conveyed to the City to drain across any other portion of the Tract not yet owned by the City into the regional detention lake or creek located in the Tract. 8. Amvest agrees to grant to the City a license, to be effective during the term of this Agreement, to construct and maintain recreational facilities on any portion of the Tract for use as a public park. This license shall include, but is not limited to, the following rights: to enter upon the land, to construct improvements upon the land consistent with the operation of a public park, and to allow the general public to enter upon the land to utilize the park facilities. The City agrees to maintain insurance for the operation of said park, which insurance shall name Amvest as an additional insured. If, at the end of the term of tlfis Agreement, or if this Agreement is terminated prior to its expiration, and the City has not obtained fee simple interest to the land on which the park is located, the City shall have the option to either purchase said land for the appropriate price under paragraph 10 or to remove any improvements made upon the land by the City. 9. If the City acquires all the land in the Tract prior to the termination of this Agreement, and Amvest is required to contribute additional land to satisfy the City's Park Dedication Ordinance during the term of this Agreement, the City agrees that Amvest may pay the appropriate price pursuant to paragraph 10 in lieu of conveying land to satisfy the Park Dedication Ordinance. i0. (a) First year of term - $12,500.00 per acre. (b) Second year of term - $13,500.00 per acre. (c) Third year of term - $14,580.00 per acre. (d) Fourth year of term - $15,746.00 per acre. (e) Fifth year of term - $17,006.00 per acre. 11. This Agreement may only be amended, modified, or supplemented bywritten agreement and signed by both parties. 12. No assignment by a party hereto of any rights under or interests in this Agreement will be binding on another party hereto without the written consent of the party sought to be bound; and specifically but without limitation moneys that maybecome due and moneys that are due may not be assigned without such consent (except to the extent that the effect of this restriction may be limited by law), and unless specifically stated to the contrary in any written consent to an assignment no assignment will release or discharge the assignor firom any duty or responsibility under this Agreement. 13. Nothing herein is intended to supersede or waive any City ordinance or regulation. 14. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is prohibitive or invalid under applicable law, such provision shall be ineffective to the extent of such provision or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement. 15. This Agreement shall be construed and enforced in accordance with and governed by the laws of the State of Texas. 16. This Agreement and all obligations created hereunder shall be performable in Brazoria County, Texas. 17. To accomplish execution of this Agreement, it may be executed in multiple counterparts. EXECUTED and EFFECTIVE this the day of ., 2001. ATTEST: CITY OF PEARLAND By: Young Lorfing Bill Eisen City Secretary City Manager AMVEST PROPERTIES, INC. By: Clinton Wong President STATE OF TEXAS § COUNTY OF BRAZORIA § BEFORE ME, the undersigned Notary Public, on this day personally appeared ., known to me to be the person whose name is subscribed to the foregoing instrument and acknowledged to me that he/she executed the same for the purposes and consideration therein expressed. GIVEN UNDER MY HAND AND SEAL OF OFFICE THIS DAY OF ., A.D., 2001. NOTARY PUBLIC IN AND FOR THE STATE OF TEXAS Printed Name: My Commission Expires: STATE OF TEXAS § COUNTY OF § BEFORE ME, the undersigned Notary Public, on this day personally appeared , known to me to be the person whose name is subscribed to the foregoing instnmaent and acknowledged to me that he/she executed the same for the purposes and consideration therein expressed. GIVEN UNDER MY HAND AND SEAL OF OFFICE THIS DAY OF _, A.D., 2001. NOTARY PUBLIC IN AND FOR THE STATE OF TEXAS Printed Name: My Commission Expires: ACI~8 CJf.¥ of Pearland, Texas A~d~EST PROPERIIES, INC,