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HomeMy WebLinkAboutResolution - 2013-R0387 - Agreement - 2402 9Th Street LLC - Funding Of Public Improvement Project - 11/07/2013Resolution No. 2013-RO387 November 7, 2013 Item No. 5.4 RESOLUTION BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the Mayor of the City of Lubbock BE and is hereby authorized and directed to execute for and on behalf of the City of Lubbock an Agreement between the City of Lubbock and 2402 91h Street, LLC, regarding the funding of public improvements in Project 92254F of the Project Plan for the North Overton Tax Increment Finance Reinvestment Zone, as amended. Said AgreemeiWAI d6lbHed hereto and incorporated in this Resolution as if fully set forth herein and shall be included in the minutes of the Council. Passed by the City Council on November 7 *GC. ROBERTSON, MAYOR ATTEST: AQ Reb cca Garza, City Secret APPROVED AS TO CONTENT: Cheryl Brock, Executive Director of Budget APPROVED AS TO FORM: Linda L. Chamales, Economic Development Attorney City Att f Linda: Res- NO TIF Dev.Agrmt- 2402 O' Strect,LLC October 29, 2013 2013. Resolution No. 2013-R0387 DEVELOPER PARTICIPATION AGREEMENT BETWEEN THE CITY OF LUBBOCK AND 2402 9" STREET LLC STATE OF TEXAS § COUNTY OF LUBBOCK § This agreement is between the City of Lubbock, a Texas municipal corporation (hereinafter called "City") and 2402 91" Street, LLC (hereinafter called "Developer"). WHEREAS, the City recognizes the importance of its continued role in local economic development; and WHEREAS, the City, upon receipt of a petition requesting creation of a tax increment financing district from the owners of more than 50 percent of the appraised value of the area, adopted Ordinance No. 2002-00029, March 14, 2002, establishing the North Overton Tax Increment Financing Reinvestment Zone in accordance with the provisions of the Tax Increment Financing Act, V.T.C.A. Tax Code, Chapter 311 (the "Act"); and WHEREAS, in accordance with the Act, the Board of Directors of the North Overton Tax Increment Financing Reinvestment Zone has prepared a Project Plan (the "Project Plan") and a Financing Plan (the "Financing Plan"), and the City, in accordance with the Act and after making all findings required by the Act, has adopted an ordinance approving the plans and amendments to these Plans; and WHEREAS, the Act authorizes the expenditure of funds derived within a reinvestment zone, whether from bond proceeds or other funds, for the payment of expenditures made and monetary obligations incurred by a municipality consistent with the project plan of the reinvestment zone, which expenditures and monetary obligations constitute project costs, as defined in the Act ("Project Costs"); and WHEREAS, Developer has acquired certain real property situated within the North Overton Tax Increment Financing Reinvestment Zone (the "TIF District") located on Tract 1C -3B, on the northwest corner of 91" Street and Avenue X identified with crosshatching on the map attached hereto and marked "Exhibit A" (the "Project Property"); and WHEREAS, Developer intends to develop the Project Property for a Potbelly Sandwich Shop (the "Developer's Project"), substantially in accordance with the design which is attached hereto and marked "Exhibit B"; and WHEREAS, The City, after due and careful consideration, has concluded that the redevelopment of the Project Property as a portion of the TIF District as provided herein and in the Project Plan will further the growth of the City, facilitate the redevelopment of the entire TIF District, improve the environment of the City, increase the assessed valuation of the real estate situated within the City, foster increased economic activity within the City, increase employment opportunities within the City, upgrade public infrastructure within the TIF District, and otherwise be in the best interests of the City by furthering the health, safety, and welfare of its residents and taxpayers, and that entering into this Agreement is necessary and convenient to implement the Plans and achieve their purposes; and WHEREAS, the City is desirous of having Developer undertake the Developer's Project in order to serve the needs of the City and in order to produce increased tax revenues for the various taxing units authorized to levy taxes on real property within the TIF District and the City and, in order to stimulate and induce the redevelopment of the TIF District, the City has agreed to participate by dedicating and pledging the use of revenue in the Tax Increment Fund to finance certain Project Costs, all in accordance with the terms and provisions of the Act, with the guidelines set up by the City to be followed in City/Developer participation agreements, and with the terms of this particular Agreement; and WHEREAS, the Developer desires to have the City participate and the City agrees to participate in the construction of Public Improvements such as street lighting, landscaping, street furniture, and sidewalks; NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements herein, the Parties agree as follows: ARTICLE I. RECITALS AND EXHIBITS PART OF AGREEMENT 1.1 The representations, covenants and recitations set forth in the foregoing recitals are material to this Agreement and are hereby incorporated into and made a part of this Agreement as though they were fully set forth in this Article I. Exhibits A, B, C, D, E, F, G, H and I attached hereto are incorporated into this Agreement as if fully set forth herein. ARTICLE II. DEVELOPMENT PLAN — NORTH OVERTON 2.1 Developer has acquired the project Property situated within the North Overton Tax Increment Financing Reinvestment Zone and intends to develop the property for a Potbelly Sandwich Shop (the "Developer's Project"), in accordance with the map and design which are attached and marked "Exhibits A and B," and in accordance with the Project and Developer Agreement — City / 2402 9i° St. LLC, Project 92254F 2 Finance Plans, as amended and adopted by the Board of Directors of the North Overton Tax Increment Financing Reinvestment Zone and by the City Council, which are also attached and marked "Exhibit C" ARTICLE III. DEFINITIONS 3.1 "Parkway" is herein defined as any part of the public right-of-way lying between the curb or grade line of any public street and the abutting private property line. 3.2 "Hardscape" is herein defined as the hard surface portion of the landscaping in the parkway such as stone, concrete, brick or other approved surface under the Design Guidelines as set forth in Exhibit F. It is assumed by the parties that hardscape represents fifty per cent (50%) of the total cost of landscaping in the parkway. 3.3 "Softscape" is herein defined as plant materials, ground preparation, pedestrian lighting, street furniture, and trash receptacles. It is assumed by the parties that softscape represents fifty per cent (50%) of the total cost of landscaping in the parkway. ARTICLE IV. CITY PARTICIPATION 4.1 In accordance with Phase One, Project 92254F of the Project Plan recommended by the Board of Directors of the North Overton District Tax Increment Finance Reinvestment Zone and approved by the City Council of the City of Lubbock, and in accordance with the City of Lubbock Redevelopment Policies and Tax Increment Finance Policies, the City agrees to dedicate and pledge the use of revenue in the Tax Increment Fund to directly participate in the cost of the Public Improvements as shown in the attached "Exhibit D," entitled "Direct City Participation and TIF Funding, Phase One, Project 92254F. 4.2 This Agreement shall authorize funding only for Phase One, Project 92254F. Participation shall be based on actual construction costs incurred by the City or verified by the City upon application and certification by Developer. In the event that the actual costs of the individual Direct City Participation items are less than the amounts shown in Exhibit D, then the City will utilize the "savings" (in its sole discretion) to increase any other individual Direct City Participation element, if needed to provide Developer Agreement — City / 2402 9h St. LLC, Project 92254F 3 sufficient funding for the Direct City Participation in other project element or elements. City also reserves the right to reallocate the "savings" for projects in a subsequent phase of the Developer's Project. Direct City Participation in Phase One, Project 92254F, shall be limited to the total amount approved by the City Council for Phase One, Project 92254E of the Project Plan, which is $51,878.00. 4.3 The City shall review the Developer's cost estimates in order to deter undue loading of costs, collusion or fraud prior to approval of payment of the Direct City Participation. The City may, at its discretion, pay any increases in the actual cost of a public improvement over its estimated cost, provided funds are available. However, unless the North Overton TIF project and financial plans and this document are amended to so provide, in no case shall the City ever be liable for any amount above and beyond a total of $51,878.00, the agreed payment of the City's share of the public improvements contained herein. Nothing in this Agreement shall be construed to require City to approve reimbursements from any source of City funds other than the Tax Increment Fund. In the event the actual costs of the individual Direct City Participation items are more than the amounts shown in Exhibit D, the City and Developer will meet and negotiate in a good faith attempt to reduce costs and/or to agree to an amendment to this Agreement. 4.4 Increases in the scope of the Developer's Project beyond that contemplated by the plans and budget within this document shall be paid by the party requesting the increase in scope. 4.5 The City anticipates issuing debt to reimburse the Developer and costs advanced by City for project costs authorized pursuant to this Article. The reimbursement will be paid from the proceeds of debt issued by the City. 4.6 City agrees to make available to the Developer for inspection upon request all of its books and records related to the Public Improvements constructed for the Project and to allow Developer access to the Public Improvement site during the construction for the purpose of periodic inspection of the construction work. City agrees, when applicable, to follow the Design Guidelines, including the Landscape Plan attached hereto as Exhibit F. 4.7 City shall provide the Developer upon request copies of contracts denoting costs for engineering services directly related to the final engineering for development of Public Improvement construction plans and specifications. 4.8 For those Public Improvements in the Project constructed by City, City agrees to submit the Public Improvements to competitive sealed bids and Developer Agreement— City/ 2402 9°i St. LLC, Project 92254F 4 agrees to award the contract to construct the Public Improvements to the lowest responsible bidder. 4.9 City agrees to construct those projects listed in Exhibit D for which the participation is 100% and to reimburse Developer as agreed above for the remaining projects to the extent funds are available in Phase One, Project 92254F of the Project Plan or as shown in Exhibit D. City and Developer may agree to allow Developer to do construction on the City's behalf for certain projects listed in Exhibit D. In order for City to reimburse Developer for construction and material costs for these projects, Developer shall provide proof of completion and proof of payment in a form reasonably acceptable to the City. Procedures for reimbursement from the City are attached as Exhibit H. 4.10 The City and Developer shall cooperate and coordinate their activities with respect to the commencement and construction of the Public Improvements and the Developer's Project so that the commencement and construction of the Public Improvements shall occur at such times as are necessary to meet the construction time requirements of Developer for the Developer's Project. The parties agree to jointly prepare (and update from time to time as necessary) a construction schedule of the Public Improvements in order to help implement the parties' obligations. Such schedule, when completed, (and as updated) shall become Exhibit G to this Agreement. ARTICLE V. DEVELOPER OBLIGATIONS 5.1 In accordance with the plans in Exhibit B, as approved or amended by the Planning and Zoning Commission, and in accordance with Phase One, Project 92254F of the Project Plan, as amended and recommended by the Board of Directors of the North Overton Tax Increment Financing Reinvestment Zone and approved by the City Council of the City of Lubbock, the Developer agrees to construct and complete Potbelly Sandwich Shop to be located on Tract 1C -3B, on the northwest corner of 9th Street and Avenue X before 5.2 In accordance with the map and design in Exhibits A and B and in accordance with Phase One, Project 92254F of the Project Plan, as amended and recommended by the Board of Directors of the North Overton Tax Increment Financing Reinvestment Zone and approved by the City Council of the City of Lubbock, the Developer agrees to construct and/or participate in the actual cost of construction of the Public Improvements and in the percentages as shown in the attached "Exhibit Developer Agreement — City / 2402 9'h St. LLC, Project 92254F 5 E." Prior to construction the plans and the contract shall be reviewed and approved by the Developer and the City. Developer shall be responsible for construction of the hardscape and the irrigation in the Parkway in accordance with the Design Guidelines, including the Landscape Plan, attached as Exhibit F. It is acknowledged by the parties that the Design Guidelines require oversizing of these improvements in the right-of-way beyond those required elsewhere in the City. 5.3 Developer agrees to make available to the City for inspection at all reasonable times, all of its books and records related to the Public Improvements constructed for the Developer's Project and to allow the City access to the Project during construction for the purpose of periodic inspection of the construction work. 5.4 Developer shall provide City copies of contracts denoting costs for engineering services directly related to the final engineering for development of Public Improvement construction plans and specifications. Only engineering services directly related to final engineering shall be eligible for project cost reimbursement. 5.5 For those Public Improvements in the Project constructed by Developer in which there is Direct City Participation greater than thirty per cent of the total contract price (not including payment by the City for any oversizing of improvements required in the Design Guidelines), Developer agrees to submit the Public Improvements to competitive sealed bids and agrees to award the contract to construct the Public Improvements to the lowest responsible bidder in accordance with state law and city ordinances regarding public bids. On those items where there is Direct City Participation, City reserves the right to do the construction of the Public Improvement with contribution from Developer if it is more economical for the City to build than for Developer to do the construction. 5.6 Developer acknowledges that City will be issuing debt backed by revenue in the Tax Increment Fund to fund the Public Improvements referenced in the Agreement, and Developer therefore agrees that the Developer's Project located on Tract 1C -3B, between 9`I' Street and Glenna Goodacre Blvd. and between Avenue X and University Avenue shall not be sold or transferred to any entity that does not pay property taxes for this property for a period of twenty years from the date of this Agreement. If, during the 20 -year period, the property is sold to an entity that does not pay property taxes, Developer agrees to pay into the Tax Increment Fund a sum equal to the amount of increment that would have been generated by that property over the remainder of the twenty year period at the effective tax rate on the date of the sale. 5.7 Developer shall execute a performance bond for the construction of Developer Agreement — City / 2402 91h St. LLC, Project 92254F 6 improvements to ensure completion of the project as required by Section 212.073 of the Texas Local Government Code. ARTICLE VI. FORCE MAJEURE 6.1 It is expressly understood and agreed by the parties to this Agreement that if the substantial completion of the construction of any improvements contemplated hereunder is delayed by reason of war, civil commotion, acts of God, inclement weather, governmental restrictions, regulations, or interferences, delays caused by the franchise utilities or their contractors, fire or other casualty, court injunction, necessary condemnation proceedings, acts of the other party, its affiliates/related entities and/or their contractors, or any circumstances which are reasonably beyond the control of the party obligated or permitted under the terms of this Agreement to do or perform the same, regardless of whether any such circumstance is similar to any of those enumerated or not, the party so obligated shall be excused from performing during such period of delay, so that the time period applicable to the design or construction requirement shall be extended for a period of time equal to the period the party was delayed. ARTICLE VII. TERM 7.1 The term of this agreement shall begin on the date of execution and end upon the earlier of (a) the complete performance of all obligations and conditions precedent by parties to this Agreement; or (b) the expiration of the term of the North Overton Tax Increment Financing Reinvestment Zone; provided however, that the obligations of City to apply increment which has accrued during the term of the North Overton Tax Increment Financing Reinvestment Zone but which is not collected until subsequent to the expiration of the term toward unreimbursed Project Costs pursuant to this Agreement shall survive. ARTICLE VIII. INSURANCE 8.1 Developer agrees to obtain or cause its Contractors and/or subcontractors Developer Agreement — City / 2402 0 St. LLC, Project 92254F 7 to obtain comprehensive liability insurance reasonably satisfactory to the City (including workers' compensation or a self-insurance plan in lieu thereof) as set forth in "Exhibit I" which names the City and the Board of Directors for the North Overton Tax Increment Finance District as additional insureds, due to any damage, injury, or death attributed to the Developer or its Contractors or subcontractors while completing the Public Improvements in which there is Direct City Participation. ARTICLE IX. INDEMNITY 9.1 Developer agrees to defend, indemnify and hold City, its officers, agents and employees, harmless against any and all claims, lawsuits, judgments, costs and expenses for personal injury (including death), property damage or other harm for which recovery of damages is sought that may arise out of or be occasioned by Developer's breach of any of the terms or provisions of this Agreement, or by any negligent act or omission of Developer, its officers, agents, associates, employees or subcontractors, in the performance of this Agreement; except that the indemnity provided for in this paragraph shall not apply to any liability resulting from the breach of this Agreement or negligence of City, its officers, agents, employees or separate contractors, and in the event of joint and concurrent negligence of both Developer and City, responsibility, if any, shall be apportioned comparatively in accordance with the laws of the State of Texas, without, however, waiving any governmental immunity available to City under Texas law and without waiving any defenses of the parties under Texas law. The provisions of this paragraph are solely for the benefit of the parties hereto and not intended to create or grant any rights, contractual or otherwise to any other person or entity. ARTICLE X. AUTHORITY TO BIND 10.1 The City represents and warrants to Developer that the City has full constitutional and lawful right, power, and authority, under currently applicable law to execute and deliver and perform the terms and obligations of this Agreement, and all necessary City proceedings, findings and actions. Accordingly, this Agreement constitutes the legal valid and binding obligation of the City, is enforceable in accordance with its terms and provisions and does not require the consent of any other governmental authority. 10.2 Developer hereby represents and warrants to the City that Developer has Developer Agreement — City / 2402 9h St. LLC, Project 92254F full lawful right, power and authority to execute and deliver and perform the terms and obligations of this Agreement and all of the foregoing have been or will be duly and validly authorized an approved by all necessary actions of Developer. Concurrently with Developer's execution of this Agreement, Developer has delivered to the City copies of the resolutions or other corporate actions authorizing the execution of this Agreement and evidencing the authority of the persons signing this Agreement on behalf of Developer to do so. Accordingly, this Agreement constitutes the legal, valid and binding obligation of Developer, and is enforceable in accordance with its terms and provisions, subject to applicable debtor relief statutes. ARTICLE XI. DEFAULT 11.1 A default shall exist if any party fails to perform or observe any material covenant contained in this Agreement, or if the representation provided for in Article X is not true or correct. A party shall immediately notify the defaulting party in writing upon becoming aware of any change in the existence of any condition or event that would constitute a default by the defaulting party, or with the giving of notice or passage of time, or both would constitute a default by defaulting party under this Agreement. Such notice shall specify the nature and the period of existence thereof and what action if any, the notifying party requires with respect to curing the default. 11.2 If a default shall occur and continue, after thirty (30) days written notice to cure default, the non -defaulting party, may, at its option terminate this Agreement or pursue any and all remedies it may be entitled to in accordance with Texas law, without the necessity of further notice to or demand upon the defaulting party. ARTICLE XII. FEDERAL FUNDING 12.1 The City represents and warrants to Developer that no federal funds or federally assisted project activities as administered by or under the control of the City are involved in this project at this time. City further agrees that it does not have any intention or plans to participate in the future in any federally assisted project activities in the North Overton Tax Increment Finance Reinvestment Zone. 12.2 Developer represents and warrants to City that Developer has no federal funds involved in this project at this time. Developer further agrees that it Developer Agreement — City / 2402 9ih St. LLC, Project 92254F 9 will not in the future participate in any federally assisted project activities in the North Overton Tax Increment Finance Zone. ARTICLE XIII. NOTICES 13.1 Any notice required by this Agreement shall be deemed to be properly served if deposited in the U.S. mails by certified letter, return receipt requested, addressed to the recipient at the recipient's address shown below, subject to the right of either part to designate a different address by notice given in the manner just described. 13.2 If intended for City notice shall be sent to: City Manager City of Lubbock P.O. Box 2000 1625 13th Street Lubbock, Texas 79457 13.3 If intended for Developer, notice shall be sent to: 2402 91h Street LLC Nabeel Dar- Manager 3901 104th Street Lubbock, Texas 79424 ARTICLE XIV. VENUE AND GOVERNING LAW 14.1 This Agreement is performable in Lubbock County, Texas, and venue for any action arising out of this Agreement shall be exclusively in Lubbock County. 14.2 This Agreement shall be governed and construed in accordance with the laws of the State of Texas. ARTICLE XV. Developer Agreement — City / 2402 9'h St. LLC, Project 92254F 10 ATTORNEY FEES 15.1 Developer and City expressly agree that in the event of any litigation arising between the parties to this Agreement that each party shall be solely responsible for payment of its attorneys and that in no event shall either party be responsible for the other party's attorney fees regardless of the outcome of the litigation. ARTICLE XVI. LEGAL CONSTRUCTION 16.1 In the event that any one or more of the provisions contained in this Agreement shall for any reason be held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision thereof and this Agreement shall be considered as if the invalid, illegal or unenforceable provision had never been contained in this Agreement. ARTICLE XVII. COUNTERPARTS 17.1 This Agreement may be executed in any number of counterparts, each of which shall be deemed an original and constitute one and the same instrument. ARTICLE XVIII. SUCCESSORS AND ASSIGNS 18.1 The terms and conditions of this Agreement are binding upon the successors and assigns of all parties hereto. Provided, however, this Agreement shall not be assigned by Developer without prior City Council approval, which approval shall not be unreasonably withheld or delayed. ARTICLE XIX. ENTIRE AGREEMENT 19.1 This Agreement embodies the complete agreement of the parties hereto as it relates to the Public Improvements in Phase One, Project 92254F, superseding all oral or written previous and contemporary agreements between the parties and relating to matters in this Agreement, and except Developer Agreement — City / 2402 9h St. LLC, Project 92254F 11 as otherwise provided herein cannot be modified without written agreement of the parties to be attached to and made a part of this Agreement. EXECUTED in duplicate and effective as of CITY OF ::• W ATTEST: Re ecca Garza, City Secr ar APPROVED AS TO CONTENT: �Q- qCheryllBrck, Executive Director of Budget APPROVED AS TO FORM: Linda L. Chamales, Economic Development Attorney Lc: city att/Linda/ Developer Participation Agreement- Potbelly September 3. 2013 November 7 2402 9th Street LLC By: Nabeel Dar, Manager 2013. Developer Agreement - City ! 2402 9h St. LLC, Project 92254F 12 EXHIBIT A MAP Developer Agreement — City / 2402 9ih St. LLC, Project 92254F 13 NORTH "Exhibit A" OVERTON PARK TR 1 C-3B TR 2Al TR 5B1 TR 5B2 'FR 2A2 TR 2B TR 5A TR 2C "BEN"D GLENN* 6E)EME)LAXORMAE TR lA 1'R ICI TR 10A 13 14 15 16 17 TR 1C2 5A Lot Number ® Tract 1C-3B Parcels Streets 99FH ST TR 1B3 TR I B2 TR 4 TR 1B1 hibbo& iff-H ST TEXAS IS -& DATA SERVICES DEPARTMENT EXHIBIT B DESIGN Developer Agreement — City / 2402 9"' St. LLC, Project 92254F 14 u� m�Yd NO � � 2#ZXi %D0 nml ..§ § \( \a, |pD44s y - mR �§ | dogs g:)�m@ur& 3jaq$od §{ - a 303dV)5aYIv ■ A 2 In ■ Z 0 ■ ■ ■ O ■ ■ g z ■ it ■ N6 ■ ■ me e e eeeee ■ � ■ ■ s 0 ■ z 2 ¥.e. !• !I ! !# E { §I�;;l;§{�|.]`i .3-'sz).!! , m me e e eeeee ■ � ■ ■ s 0 ■ z 2 ¥.e. EXHIBIT C NORTH OVERTON TAX INCREMENT FINANCING REINVESTMENT ZONE FIFTH AMENDED PROJECT PLAN AND FINANCE PLAN Developer Agreement — City / 2402 91' St. LLC, Project 92254F 15 L *01 lubvockof I[X4S Fifth Amended Project Plan North Overton Tax Increment Financing Reinvestment Zone Lubbock, Texas December 2009 City of Lubbock, TX North Overton Tax Increment Financing Reinvestment Zone Fifth Amended Project Plan December 2009 North Overton TIF Project Plan The North Overton Area was established in 1907 and over the next 20 years developed as a middle-class neighborhood, with home ownership predominating. Following World War II, the growth of Texas Tech stimulated a need for student housing. This need was provided by many non -conforming apartments, converted garages, and subdivided houses, reducing home ownership considerably. Continued growth of Texas Tech encouraged development of apartment buildings, further destroying the stability of the area. By the 1980's, the City of Lubbock recognized the need to explore methods of stabilizing property values while allowing the area to develop to its fullest potential. The Overton North Study Committee was appointed to identify solutions to address the area's problems. The City retained RTKL in 1989 to prepare a Redevelopment Plan for Downtown Lubbock, which included the North Overton area. RTKL's plan identified many of the same issues as the Overton Study Committee and more particularly indicated that the City should develop creative public/private joint development opportunities and provide public improvements as incentives for development . In the late 1990's the McDougal Companies, a local developer, presented a plan to the City that would redevelop about 90% of the North Overton area. The developer petitioned the City to establish a Tax Increment Financing Reinvestment Zone (Zone) to provide the necessary public funds to finance the construction of public infrastructure. City staff, working with the developer, prepared a list of public infrastructure projects to stimulate and enhance the redevelopment of North Overton. It is expected that the planned expenditure of approximately $40.4 million for public infrastructure improvements within the Zone will result in future development/redevelopment which will increase the taxable value by approximately $373.9 million over the Zone's 30 -year life. As set forth in Section 311.011 of the Tax Increment Financing Act of the Tax Code, the Project Plan for the North Overton Area Tax Increment Finance Reinvestment Zone, Lubbock, Texas must and does include the following elements: 1. A map showing existing uses and conditions of real property in the Zone and a map showing proposed improvements to and proposed uses of the property. Attached as Exhibit A is a map showing existing uses of real property in the Zone and attached as Exhibit B is a map indicating locations of newly constructed or proposed public improvements in the Zone. City of Lubbock, TX North Overton Tax Increment Financing Reinvestment Zone Fifth Amended Project Plan December 2009 North Overton TIF Project Plan 2. Proposed changes of zoning ordinances, the master plan of the municipality, building codes, and other municipal ordinances. No changes have been made to the master plan of the municipality, building codes, or other ordinances. Zoning ordinances have been modified to provide architectural guidelines and special zoning considerations to provide for redevelopment of the North Overton area as a pedestrian -oriented, neo -traditional development. 3. A list of estimated non -project costs. Non -project costs within the Zone are those development costs not paid for by the Zone. These costs will include, but are not limited to, $387.3 million of new development. The detailed list of estimated non -project costs from 2004 through 2020 are included as Exhibit C. 4. A statement of a method of relocating persons to be displaced as a result of implementing the plan. In the process of developing and redeveloping the Zone, it is not contemplated there will be any involuntary relocations. However, it may be necessary to relocate individuals and businesses through voluntary buyout. In the event that this is required, the City or private developer will follow the procedures that would be used in the development or construction of other public or private improvements outside the Zone. City of Lubbock, TX North Overton Tax Increment Financing Reinvestment Zone Fifth Amended Project Plan December 2009 North Overton TIF Project Plan TIF Expense Phase I Street Reconstruction/resurfacing $ 7,266,431 A/E services, reconstruction, curb and gutter, and rotaries $ 3,795,000 Rotary Amenities 607,119 A/E services, landscaping, irrigation, lighting, and street furniture 6,307,749 Glenna Goodacre Boulevard 2,486,975 A/E services, replace curb and guttter, and right-of-way acquisition 11,805,000 Glenna Goodacre Boulevard Amenities 2,343,448 A/E services, landscaping, irrigation, lighting, and street furniture 961,386 Landscaping in the Parkway 6,218,703 A/E services, landscaping, irrigation, lighting, and street furniture Water and Wastewater 3,792,506 Replacement and relocation Electric Utility - underground 1,891,005 Pioneer Park improvements 50,000 Overton Conference Center 11,480,000 Right of Way Acquisition 4,242,450 Phase I TIF Project Cost 40,378,635 Total amount of debt supported by TIF Revenue 40,378,635 Debt service interest expense 24,688,000 Total Phase 1 TIF Project Cost 65,066,635 Phase 11 (TIF revenues available after debt is paid) 21,893,000 Total TIF Project Cost 86,959,635 Administrative Cost 1,373,000 Total TIF Cost $ 88,332,635 Bond Issuance July 15, 2003 $ 3,795,000 August 15, 2005 9,290,000 April 15, 2006 6,307,749 August 15, 2007 4,111,341 January 17, 2008 11,805,000 May 23, 2008 1,943,758 April 8, 2009 961,386 Total Bond Issuance $ 38,214,234 City of Lubbock, TX North Overton Tax Increment Financing Reinvestment Zone Fifth Amended Project Plan December 2009 Exhibit A — Existing Land Use L'S 82 \IARSIIA SHARP I'lM 1 P■■ - �1H�[ �1 %-41COODACREHLPD SI 13 Fit ST a 11 H S'1 ® fl�tLFt Sj F GLANNA C CI 91HS1 9 1T 10TH ST 1111' ti w ■ C7 M S Y v z W la'rH s M 24111 440 MM MMi IMMi r na MCommercial Residential Nlediun2-Density Exhibit A I.i i NORTH I& IfrMbbo& ityof TEXAS PLANNING DEPARTl11ENT Industrial Residential I.mm-Densit3 _ Public V.Se Transportation & Utilities ■ Parks & Recreation vacant Land _ Residential High-Densith ® North Oscrton TIF Boundaan Exhibit A I.i i NORTH I& IfrMbbo& ityof TEXAS PLANNING DEPARTl11ENT City of Lubbock, TX North Overton Tax Increment Financing Reinvestment Zone Fifth Amended Project Plan December 2009 Exhibit B — Proposed Improvements and Proposed Uses c��G cGma I MllT is That SA ' AY�d /1• 123,02453 sj 145259sf r. Itort 6 r f 8.W9Ana _ Rlajt 4_• WG9 S( e V N Z 043A s' .;fl�l�ot1� � �" 13Jtidt3;68.1G�sf ca�ur�xtts Alndc2 7irat 182 - 89091st1v150,980sT i Exhibit B .J >: Wat-Mart �. _ s1>rsneec walp- 7� Ot�lf 1�e � TYmct a0' 19Et,365.sf 7Tor119A .This 19B en Uxt2.3 1� 78,lOUs/ rt 7W24 N rC-.eft •... �•, • '.. 62,500. q� TR'% 711xs1382,97Ssf . �`�i!! N Biu • N U N X N T N xOCX Y � Y T T ry X Z Sc i N_ L1 h C � (O r r . r r r r . . . i , . r , , , r . . , . . , .' Y , p n y , , r r r r r OG 3 h N h . . r . r , . T , , , , , , w�1 V , , , i . r , r . i A .-.. U sF a n _I '_ n c h = , , , , , , , S= n x rvoz iv r{n vxi `. nNxh mom'"—v^i� U v r„„ r, r„. r r„.. r n' N m N P N h N N - N z - _„„„,,,,,,,,, U,4 N rl h N , , , , , , , , , , , p T T C C M rl 8 TN G� rl uH N e � o 0 c c c 0 uu0 0 0 i U a m- U N y y N v n N C a d 9 y i CIC m y o o I I I Z e--- 2 `o o. g u u N N rlNN H �I N N u s” "e t F-F-Ke� ee t .PP U*a�a�a�aQ Z F-PPPPPP-FFFFFFFFFFFFFFFFFFFFFFFFt-FFFFF�UI+. o.aaF-FFF1a_o-li F lubli'ock'kkirit- FMA Fifth Amended Finance Plan North Overton Tax Increment Financing Reinvestment Zone Lubbock, Texas December 2009 City of Lubbock, TX North Overton Tax Increment Financing Reinvestment Zone Fifth Amended Finance Plan December 2009 The Financing Plan provides information on the projected impact that the North Overton Tax Increment Financing Reinvestment Zone (Zone) could have on the property illustrated in Appendix A. It also describes how that impact could be utilized to enhance the area and region through leveraging the resources of each entity that participate in the project. Below is a summary of the Financing Plan items required by law: 1. A detailed list describing the estimated project costs of the zone, including administrative costs. The total project costs over the life of the zone will be approximately $62.3 million, not including interest payments on debt service. The detailed list of projects is included in Appendix B. 2. A statement listing the kind, number, and location of all proposed public works or public improvements in the zone. • Capital costs, including the actual costs of the acquisition and construction of public works, public improvements, new buildings, structures, and fixtures; the actual costs of the acquisition, demolition, alteration, remodeling, repair, or reconstruction of existing buildings, structures, and fixtures; and the actual costs of the acquisition of land and equipment and the clearing and grading of land; • Financing costs, including all interest paid to holders of evidences of indebtedness or other obligations issued to pay for project costs and any premium paid over the principal amount of the obligations because of the redemption of the obligations before maturity; • Any real property assembly costs; • Professional service costs, including those incurred for architectural, planning, engineering, and legal advice and services; • Any relocation costs; • Organizational costs, including costs of conducting environmental impact studies or other studies, the cost of publicizing the creation of the Zone, and the cost of implementing the project plan for the Zone; • Interest before, during and after construction, whether or not capitalized; • The amount of any contributions made by the municipality from general revenue for the implementation of the project plan; 2 City of Lubbock, TX North Overton Tax Increment Financing Reinvestment Zone Fifth Amended Finance Plan December 2009 • Imputed administrative costs, including reasonable charges for the time spent by employees of the municipality in connection with the implementation of a project plan; • The cost of operating the Zone and project facilities; and • Payments made at the discretion of the governing body of the municipality that the municipality fmds necessary or convenient to the creation of the Zone or to the implementation of the project plans for the Zone. • All public improvements or public works projects will be in the area shown on the map in Appendix A. 3. Economic Feasibilty Study. • An economic feasibility study has been completed and is included as a part of this Financing Plan as Appendix C. 4. The estimated amount of bonded indebtedness to be incurred. • The debt capacity produced from the estimated tax increment should yield approximately $40.4 million in funding capacity. 5. The time when related costs or monetary obligations are to be incurred. • Related costs and monetary obligations have been incurred with each bond issue, beginning with the first bond issuance in FY 2005. 6. A description of the methods of financing all estimated project costs and the expected sources of revenue to finance or pay project costs including the percentage of tax increment to be derived from the property taxes of each taxing unit on real property in the Zone. • Project costs will be financed using certificates of obligation with the revenue source provided by tax increment funds received, hotel/motel taxes, and revenues generated by contractual agreements within the Zone. The percentage of tax increment to be derived from the property taxes of each taxing unit participating in the Zone is 100%. City of Lubbock, TX North Overton Tax Increment Financing Reinvestment Zone Fifth Amended Finance Plan December 2009 7. The current total appraised value of taxable real property in the Zone. • The appraised value of the taxable real property in the Zone that the Lubbock Central Appraisal District certified in July 2002 was $26,940,604. This amount is the base value for the district in calculating future increments. The current appraised value according to the 2009 certified TIF roll is $279,910,784. City of Lubbock, TX North Overton Tax Increment Financing Reinvestment Zone Fifth Amended Finance Plan December 2009 8. The estimated appraised value of the improvements in the Zone during each year of existence. • The estimated appraised value of the improvements in the Zone per year is listed in the following table: New Estimated Development Total Adjusted Tax Demolitions Assessed Value Assessed Value Year ($ thousands) ($ thousands) ($ thousands) 2002 $ 2003 (2,019) 12,406 10,387 2004 (12,395) 21,632 9,237 2005 (2,362) 99,842 97,480 2006 - 41,397 41,397 2007 - 6,860 6,860 2008 - 17,618 17,618 2009 - 69,990 69,990 2010 - 17,221 17,221 2011 - 4,847 4,847 2012 - 37,690 37,690 2013 - 30,453 30,453 2014 - 4,051 4,051 2015 - 5.740 5,740 2016 - 6,306 6,306 2017 - 5.400 5,400 2018 - 5,400 5,400 2019 - 2,520 2,520 2020 - 1,260 1,260 2021 - - - 2022 - - - 2023 - - - 2024 - - - 2025 - - - 2026 - - - 2027 - - - 2028 - - - 2029 - - - 2030 - - - 2031 - - - TOTAL $ (16,776) 390,633 373,858 5 City of Lubbock, TX North Overton Tax Increment Financing Reinvestment Zone Fifth Amended Finance Plan December 2009 9. The estimated annual incremental funds available from development and redevelopment in the Zone are listed in the following table. Annual Tax Annual Annual Revenue Annual Hotel Motel Total Increment Interest Revenue Conference Ctr. Tax Revenues Revenues (S thousands)* (S thousands)* (S thousands)* (S thousands)* (S thousands)* 96 Estimated Estimated Tax Adjusted Captured Cumulative Captured Year Value(S thousands) Value (S thousands) 2002 S - - 2003 10,387 10,387 2004 9,237 19,625 2005 97,480 117,105 2006 41,397 158,501 2007 6,860 165,362 2008 17,618 182,980 2009 69,990 252,970 2010 17,221 270,191 2011 4,847 275,038 2012 37,690 312,728 2013 30,453 343,181 2014 4,051 347,232 2015 5,740 352,972 2016 6,306 359,278 2017 5,400 364,678 2018 5,400 370,078 2019 2,520 372,598 2020 1,260 373,858 2021 - 373,858 2022 3,193 373,858 2023 323 373,858 2024 27 373,858 2025 3,722 ° 373,858 2026 131 373,858 2027 3,275 373,858 2028 323 373,858 2029 50 373,858 2030 3,778 ° 373,858 2031 131 373,858 2032 3,275 61 Total 309 3,776 ° Annual Tax Annual Annual Revenue Annual Hotel Motel Total Increment Interest Revenue Conference Ctr. Tax Revenues Revenues (S thousands)* (S thousands)* (S thousands)* (S thousands)* (S thousands)* 96 0 96 176 2 178 933 468 1,402 1,289 600 1,889 1,455 555 - 2,010 1,583 25 11 81 1,700 2,216 17 66 323 2,621 ° 2,367 (3) 66 323 2,751 ° 2,409 (35) 66 323 2,762 ° 2,739 4 131 323 3,196 " 3,006 5 131 323 3,464 " 3,041 6 131 323 3,501 ° 3,092 10 131 323 3,555 ° 3,147 14 131 323 3,614 " 3,193 20 131 323 3,666 ° 3,241 27 131 323 3,722 ° 3,263 34 131 323 3,751 ° 3,275 42 131 323 3,770 ° 3,275 50 131 323 3,778 ° 3,275 58 131 323 3,786 ° 3,275 61 131 309 3,776 ° 3,275 69 131 - 3,474 ° 3,275 91 131 3,496 ° 3,275 124 131 3,530 ° 3,275 186 131 3,591 ° 3,275 252 131 3,657 ° 3,275 321 131 3,727 ° 3,275 396 131 3,801 " 3,275 471 131 3,876 ° 76,541 3,871 2,825 4,905 ---BV1-40 * Revenue is shown in fiscal year that it is collected. ' 2005 Bonds wxre issued with a premium of $245,720. The par amount issued was $9,290,000, with bond proceeds of $9,535,720. "2006 Bonds were issued with a premium of $166,813. The par amount issued was $6,307,749, with bond proceeds of $6,474,562. '2007 Bonds wxre issued with a premium of $69,796. The par amount issued was $4,111,341, with bond proceeds of 54,181,055. ° 2008 Taxable Bonds were issued at a par amount of $11,805,000, with bond proceeds of $11,400,000 '2008 Bonds were issued with a premium of $87,709. The paramount issued was $1,943,758, with bond proceeds of $2,031,467 '2009 Bonds were issued with a premium of $27,597. The par amount issued was $961,386, with bond proceeds of $988,983. °Based on projected tax rates of City -$0.4464; County -$0.329458; Hospital -$0.12084; and Water Disrict- $0.00794. Calculation: Incremental value/ 100 X tax rate X collection rate. 10. The duration of the zone: The duration of the zone is 30 years. i� City of Lubbock, TX North Overton Tax Increment Financing Reinvestment Zone Fifth Amended Finance Plan December 2009 Appendix A Appendix A us 82 l 4TH sr U98 •■ i Q� 7fiiirT)rm rtr City of Lubbock, TX North Overton Tax Increment Financing Reinvestment Zone Fifth Amended Finance Plan December 2009 Appendix B — North Overton TIF Project Costs TIF Expense Phase I Street Reconstruction/resurfacing $ 7,266,431 A/E services, reconstruction, curb and gutter, and rotaries $ 3,795,000 Rotary Amenities 607,119 A/E services, landscaping, irrigation, lighting, and street furniture 6,307,749 Glenna Goodacre Boulevard 2,486,975 A/E services, replace curb and guttter, and right-of-way acquisition 11,805,000 Glenna Goodacre Boulevard Amenities 2,343,448 A/E services, landscaping, irrigation, lighting, and street furniture 961,386 Landscaping in the Parkway 6,218,703 A/E services, landscaping, irrigation, lighting, and street furniture Water and Wastewater 3,792,506 Replacement and relocation Electric Utility - underground 1,891,005 Pioneer Park improvements 50,000 Overton Conference Center 11,480,000 Right of Way Acquisition 4,242,450 Phase I TIF Project Cost 40,378,635 Total amount of debt supported by TIF Revenue 40,378,635 Debt service interest expense 24,688,000 Total Phase I TIF Project Cost 65,066,635 Phase II (TIF revenues available after debt is paid) 21,893,000 Total TIF Project Cost 86,959,635 Administrative Cost 1,373,000 Total TIF Cost $ 88,332,635 Bond Issuance July 15, 2003 $ 3,795,000 August 15, 2005 9,290,000 April 15, 2006 6,307,749 August 15, 2007 4,111,341 January 17, 2008 11,805,000 May 23, 2008 1,943,758 April 8, 2009 961,386 Total Bond Issuance $ 38,214,234 Appendix B EXHIBIT D 2402 9th Street, LLC DIRECT CITY PARTICIPATION AND TIF FUNDING PHASE ONE, PROJECT 92254F Proiect Landscaping in the Parkway Softscape Total % Participation 100% Cost Estimate $51,878.00 $51,878.00 Developer Agreement — City / 2402 9'h St. LLC, Project 92254F 16 EXHIBIT E 2402 91" Street, LLC DEVELOPER PARTICIPATION PHASE ONE, PROJECT 92254F Project % Participation Cost Estimate Landscaping in the Parkway 100% $51,878.00 Hardscape (concrete, pavers, irrigation) Total $51,878.00 Developer Agreement — City / 2402 9'h St. LLC, Project 92254F 17 EXHIBIT F DESIGN GUIDELINES Developer Agreement — City / 2402 9h St. LLC, Project 92254F 18 amb 48 as • A 4D -a, 4a V o a fto to a o 413- Q fie COSi Loco a �f4l.l 11.1142 Al" • 0 r 10 4P i, a a. low 'a e -2U- a M, 0 12 1 a WO r 0 4 k npo CE3 40 W tu W7 -.,* .,P. 1* 40 4W a & V. a v vim bw a a ELL ftk."� wNi Ir, EZ2� 0 jdo!, - IKJ540 ii� Mori iffl,� c 14151 LA '&�. w 0-M Ns lu 4p a 116: Lu o - L r4 0, e 10 4F a m 40 01 O_ 4t 0 W*' Pr 0 40 pt 0 W 19 ;I, tv w kx ap o 4-Mft M 4d- 0 10 i 40 0 anN3AW A-UrsmaAmn 0- AIP ♦ 40 0 t 46 0 0 0 W a 6 6 0 m o a o Q V N N M M M M eV Q ul o o W a: . a • a m ■ e ' m o Lu a: ul ■ e �a O 0 J 4i a w W o 3 a w as e _ 'u W y y h 4 Q Q Q Q V M M M M M M ■ ■ Q ul o o W a: . a • a m . 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EcLn 0 LL 2 U- J � Q (/i f6 � N • • k' 13 h 0 rn E m s c 3 c c ti a -o om ao cco Q U) o `= Q ca ` Cl) ac ca m O ca o � (b aa� E .c ca o Z c� o Q cB p oo " Q CD o CL Q E o cl) (a� � o> (b 'Q) •°c c c� 4 tic_—) Z cB Cx o a� coo - _ CO .o c .n CO m a� a� m C c fq (j N Q cd �•S Co cB N Lo -� a� QQQmmm0LLwwwinincn> cn E a� �' - >' 0 = '� O 't= _ (n m} rE N N cn c L }, L U 7 } a m Q 75 .� N 0 cl) C �p to 0 E� 7 a N � >— O N U } p o °' � a Q .z " a o o c Q o ca o � O v o CO Y E '� co �, c a aoi .o 0 0 a a +cB ,iZ tA � o O co •OQ co m N Cl) U Qco a O•� J Q x U 0 Q x- ca E ca o c) N U co OV Cl) J C) Y O O Z _ m O LU Cl) 0 O o c o aai � c o cncn ai c c o 0 m O m (D Z c m Cl) >% .W L),co 0 m c� �� 3 m c Fn cn M +° c `m cts�? o c c 0 0 0 3 a m a? axi Q Q m U 0 o cn co H b 3 n N 3 n d N N N N N N N M M M M M N O N N O O O N O N O N f6 f6 f6 f6 O f6 O O O f6 O f6 Q M O 0 W U - O=- � Y -! c c c c c c c c c c c c 0 0 0 0 0 0 0 0 0 0 0 0 U U U U U U U U U U U U O O O O O O N N N O N O i w H cn c O U m cn cn N 0 �• U V � O O N E N U O O w = LR O L W C 4— O `0 O U cn O � O Q f6 n U O N tip O L U U f6 Q LCLN C �` rn a 4A A2 � U 0 b 3 n N 3 n d N N N N N N N M M M M M N O N N O O O N O N O N f6 f6 f6 f6 O f6 O O O f6 O f6 Q M O 0 W U - O=- � Y -! c c c c c c c c c c c c 0 0 0 0 0 0 0 0 0 0 0 0 U U U U U U U U U U U U O O O O O O N N N O N O i w H EXHIBIT G CONSTRUCTION SCHEDULE (To be prepared jointly) Developer Agreement —City/ 2402 90' St. LLC, Project 92254F 19 EXHIBIT H PROCEDURES FOR REIMBURSEMENT FROM CITY I. Landscaping. The City of Lubbock will reimburse the developer/owner for a portion of the landscaping in the right-of-way in the North Overton TIF if the following rules/procedures are met. This reimbursement will be as follows: 50%: standard or minimum requirement — Developer portion 50%: oversized improvements — City will reimburse up to the maximum in the developer agreement. Procedure 1. A developer's agreement must be executed between the developer/owner and the City of Lubbock 2. A site plan of the landscaping must be submitted to the City of Lubbock to be reviewed and approved. 3. The developer/owner must provide proof of a bid for the landscaping improvements in the right-of-way. 4. The landscaping in the right-of-way must be bid separately from other items. 5. The developer/owner must provide proof of the completion of the landscaping in the right-of-way and proof of payment. 6. The City of Lubbock reserves the right to inspect the work, with a plan on file. 7. If the plan is changed at any time during construction, the plan must be resubmitted to the City of Lubbock for approval. 8. The developer/owner must submit backup for the reimbursement of the City's portion of the landscaping in the right-of-way in a format that is approved by the City of Lubbock. 4. The City will pay to Developer a maximum of 15% of the total bid for construction management fees. Developer Agreement — City / 2402 9h St. LLC, Project 92254F 20 EXHIBIT I INSURANCE REQUIREMENTS Developer or contractor shall carry and maintain insurance at all times that this Agreement is in effect, at Developer's sole expense and with an underwriter authorized to do business in the State of Texas and acceptable to the City, against claims of general liability, automobile liability, and workers' compensation resulting from Developer's activities under this Agreement. General Liability Insurance: Developer will carry and maintain General Liability Insurance for the protection of the City, naming City as an additional insured on a primary, not excess basis, with completed operations and XCU endorsement, heavy equipment coverage, and insuring against all claims, losses, costs and expenses arising out of injuries to persons whether or not employed by the Developer, damage to property whether resulting from acts or omissions, negligence or otherwise of the Developer or any of its agents, employees, or other persons, and growing out of the construction of the Public Improvements, such policies to provide not less than one million dollars ($1,000,000.00) for Combined Single Limit General Liability Insurance. Automobile Liability Insurance: Developer will carry and maintain Automobile Liability Insurance in the amount of five hundred thousand dollars ($500,000.00), naming the City as an additional insured on a primary, not excess basis. Workers' Compensation Insurance: Developer shall elect to obtain workers' compensation coverage pursuant to Section 406.002 of the Texas Labor Code. Further, Developer shall maintain said coverage throughout the term of this Agreement and shall comply with all provisions of Title 5 of the Texas Labor Code to ensure that the Developer maintains said coverage. Any termination of workers' compensation insurance coverage by Developer or any cancellation or nonrenewal of workers' compensation insurance coverage for the Developer shall be a material breach of this Agreement. The above policy shall include a waiver of subrogation in favor of the City. Developer Agreement — City / 2402 9h St. LLC, Project 92254F 21 A� V® CERTIFICATE OF LIABILITY INSURANCE 10/14/2013 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder Is an ADDITIONAL INSURED, the policy(les) must be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder In lieu of such endorsement(s). PRODUCER K & S Insurance Agency 2255 Ridge Road, Ste. 333AppgE9S:doherry@kands P. 0. BOX 277 Rockwall TX 75087 CNAMNTIACTDebrah Cherry PHONE (972) 771-4071 FAX . (972)771-4695 ins. cotn INSURERS AFFORDING COVERAGE NAIC N INSURERA.ValleY Fore Insurance Co. 20508 INSURED Allen Teinert Construction Co., Inc. dba Teinert Commercial Building Services P.O. Box 5327 Lubbock TX 79408 INSURERB:Continental Insurance Company 35289 INSURER c .Continental Casualty Insurance 20443 INSURERD:Texas Mutual Insurance Co. INSURERE:Federal Insurance Company 0281 INSURER F: COVERAGES CERTIFICATE NUMPIER! REVISION NIIMRFR- THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. ICY �7R TYPEOFINSURANCE POLICY NUMBER EFF MMIDD/YYYY PO M I p LIMITS GENERAL LIABILITY EACH OCCURRENCE $ 1,000,000 PREMISE Ea $ 100,000 A X COMMERCIAL GENERAL LIABILITY CLAIMS -MADE FXIOCCUR 05084166949 /26/2013 /26/2014 MED EXP (Any one person) $ 10,000 PERSONAL& ADV INJURY $ 1,000,000 140331C 10/10 GENERAL AGGREGATE $ 2,000,000 G2404 5/09 GENE. AGGREGATE LIMIT APPLIES PER: PRODUCTS .COMPIOPAGO S 2,000,000 POLICY X PRO- IECTLOC $ AUTOMOBILE LIABILITY 8881(dED INGLE LIMIT11000,000 BODILY INJURY (Per person) $ B X ANY AUTO ALL OWNED SCHEDULED AUTOS NDN -OWNED HIREDAUTOS AUTOS 5083152793 2048 2/99 0444 3/10 /26/2013 /26/2014 BODILYINJURY (Per accldent) $ PROPERTY DAMAGE S Per. n Undertnsuredmotortst $ 11000,000 X UMBRELLA UABX OCCUR EACH OCCURRENCE $ 1,000,000 AGGREGATE S 1,000,000 C EXCESS LIAR CLAIMS -MADE DED I X I RETENTION$ 10, DOC $ p5OS4166952 /26/2013 /26/2014 D WORKERS COMPENSATIONX AND EMPLOYERS' LIABILITY YIN ANY OFFICERPRIETOREXCLUDEER/DEXECUTIVE (Mandatory In NH) NIA 0010036703 /26/2013 /26/2014 T T TH- E.L. EACH ACCIDENT $ 11000,000 E.L. DISEASE - EAEMIPLOYE S 11000,000 Ifyyes descrtbeunder DESL�RIPTION OF OPERATIONS below RCA 1/00 E.L. DISEASE . POLICY LIMIT $ 1,000,000 E Builder's Risk 06691127 /26/2013 /26/2014 Par dlsaslerlanysinglelocallon $15M/$10 DESCRIPTION OF OPERATIONS 1 LOCATIONS I VEHICLES (Attach ACORD 101, AddlUdnsl Remarks Schedule, If more space Is required) Project: Potbelly Sandwich Shop 2402 9th Street. City of Lubbock P.O. Box 2000 Lubbock, TX 79457 ACORD 25 (2010105) INS025 (mina t nt SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. AUTHORIZED REPRESENTATIVE Daiker-1/13131313133 �� ®1988-2010 ACORD CORPORATION. All rights reserved. Tha Ar:nRrl namo anrl Innn aro ronl¢tararl marks of Ar.npn POLICYNUMBER: C5084166949 eff 3/26/13-14 COMMERCIAL GENERAL LIABILITY CG 2010 07 04 THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. ADDITIONAL INSURED - OWNERS, LESSEES OR CONTRACTORS - SCHEDULED PERSON OR ORGANIZATION This endorsement modifies Insurance provided under the following: COMMERCIAL GENERAL LIABILITY COVERAGE PART SCHEDULE Name Of Additional Insured Person(s) Or Or anization s : Locations Of Covered Operations City of Lubbock Lubbock, TX P,O. Box 2000 Lubbock, TX 79457 information required to complete this Schedule If not shown above will be shown In the Declarations. A. Section II — Who Is An Insured Is amended to Include as an additional Insured the person(s) or organizations) shown in the Schedule, but only With respect to liability for "bodily Injury", "property damage" or "personal and advertising Injury" caused, in whole or In part, by: 1. Your acts or omissions; or 2. The acts or omissions of those acting on your behalf; In the performance of your ongoing operations for the additional Insured(s) at the location(s) desig- nated above. 13. With respect to the Insurance afforded to these additional insureds, the following additional exclu- sions apply: This insurance does not apply to "bodily Injury" or "Property damage" occurring after: 1. All Work, Including rnaterials, parts or equip- ment furnished In connection with such work, on the project (other than service, maintenance or repairs) to be performed by or on behalf of the additional Insured(s) at the locatlon of the covered operations has been completed; or 2. That portion of "your work" out of which the Injury or damage, arlses has been put to Its in- tended use by any pQrson or organization other than apother contractor or subcontractor en- gaged In performing operations for a principal as a part of the same project. CO 2010 07 04 G ISO Properties, Inc., 2004 Page 1 of 1 POLICY NUMBER: 05084166949 eff 3/26/13-14 COMMERCIAL GENERAL LIABILITY CG 20 37 07 04 THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. ADDITIONAL INSURED - OWNERS, LESSEES OR CONTRACTORS - COMPLETED OPERATIONS This endorsement modifies Insurance provided under the following: COMMERCIAL GENERAL LIABILITY COVERAGE PART SCHEDULE Name Of Additional Insured Pere4n(s) Or Or anlzation s : Location And Description Of Completed Operations City of Lubbock Lubbock, TX P.O. Box 2000 Lubbock, TX 79457 Information required to complete this Schedule if not shown above will be shown In the Declarations. Section it — Who Is An Insured Is amended to Include as an additional Insured the person(s) or organizations) shown in the Schedule, byt only with respect to'(labiiity for "bodily Injury" or "property dam- age" caused, In whole or in part, by "your work" at the location designated and described In the sched- ule of this endorsement performed for that additional Insured and Included in the "products -completed operations hazard". CG 20 37 07 04 0 ISO Properties, Inc., 2004 Page 1 of 1 0 @;-N:. Q50'04166.949 eff 3-/26/-3.3-14 60MMOK 1ALQLLI1X. OF01 R *vm 1 ii -J r I W1, 'ThIO-Ah ip)i0lw'1lp9;, QA, 6)��JT, . Y'O W ip ION �L -�'g ­VF.kAG qIAL IA , AL '50 4 "ED, R E �WMT N 6 'ROM t 0 8qHWULE City of Lubbock P.O. Box 2000 Lubbock, TX 79457 0 thk Ajown aboVe, W111:6b,660 ma POLICYNUMBSR: 05083152793 eff 3/26/13-14 COMMERCIAL AUTO CA 20480200 THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. DESIGNATED INSURED This endorsement modifies Insurance provided under ilio following: BUSINESS AUTO COVERAGE FORM GARAGE COVERAGE FORM MOTOR CARRIER COVERAGE FORM TRUCKERS COVERAGE FORM Wlih respect to coverage provided by this endorsement, the provisions of the Coverage Form apply unless modified by this endorsement. This endorsement Identlflea persons) or organizallon(s) who are 'Insureds?' under the Who Is An Insured Provision of the Coverage Form, This endorsement does not alter coverage provided In the Coverage Form. This endorsement changes the policy effective on the Inoeptlon dale of the polloy unless another date Is Indicated below, Endorsement Effective: Counlersigned By: Named Insured; (Authorized tae eoe taflvo SCHEDULE Ndme of Person(s) or organtzatton(e): City of Lubbock P.O.Box 2000 Lubbock, TX 79457 (II no entry appears above, Information required to complete this endorsement will be shown In the Declarations as applicable to l e endorsement.) Each person or organlxailon shown In the Schedule Is an "Insured" for Llabillly Coverage, but only to the extent that person or organization qualifies as an "Insured" under the Who Is An Insured Provision contained In section II of the Coverage Form, CA 20 48 09 00 Copyright, Insurance Services Office, Inc., 098 Page 1 of 9 No mag POLIOYNUMBER; 05083152793 eff 3/26/13-14 COMMERCIAL AUTO CA 04 44 0210 THIS ENDORSEMENT CHANCES THE POLICY. PLEASE READ IT CAREFULLY. WAIVER.OF TRANSFER OF RIGHTS OF RECOVERY AGAINST OTHERS TO US (WAIVER OF SUBROGATION) This endorsement modllles Insurance provided under the following,. BUSINESS AUTO COVERAGE FORM BUSINESS AUTO PHYSICAL DAMAAE COVERAGE FORM GARAOE COVERAGE FORM MOTOR CARRIER COVERAGE FORM TRUOKERS COVERAGE FORM With respect to coverage provided by this endorsement, Ilse provisions of the Ooverage Form apply unless modified by the endorsement, This endorsement changes Ilia policy effective on the Inception dale of the policy unless another dale Is Indicated below, Named Insured; Endorsement Effective Date, SCHWULE Neme(s) Of Perbon(s) Or Organlzalton(s), City of Lubbock P.O. Box 2000 Lubbock, TX 79457 I Information required to complete this Schedule, If not shown above, will be shown In the Deolaratlons, I The Transfer Of Rlghta Of Recovery Against Others To Us Oondlllon does not apply to the person(s) or organizallon(s) shown in the Schedule, but only to the extent That su rogallon is waived prior to the 'accldent' Or the 'loss' under a contract with that person or organization. CA 04 44 0310 Copyright, Insurance Seivioes 011ice, Inc., 2009 Page 1 of 1 WORKERS' COMPENSATION AND EMPLOYERS LIABILITY INSURANCE POLICY WC420304A TEXAS WAIVER OF OUR RIGHT TO RECOVER FROM OTHERS ENDORSEMENT This endorsement applies only to the Insurance provided by the policy because Texas Is shown In Item 3,A, of the Information Page. We have the right to recover our payments from anyone liable for an Injury covered by this policy. We will not enforce our right agalnet the person or organization named In the Schedule, but this waiver applies only with respect to bodily Injury arising out of the operations described In the Schedule where you are required by a written contract to obtain this Waiver from us, This endorsement shall not operate directly or Indirectly to benefit anyone not named In the Schedule. The premium for this endorsement Is shown In the Schedule. Schedule 1. ( X) Specific Walver City of Lubbock Name of person or organization P.O. Box 2000 Lubbock, TX 79457 ( ) Blanket Walver Any person or organization for whom the Named Insured has agreed by written contract to furnish this walver. 2, Operations: ALL TEXAS OPERATIONS 3, Premium The premium charge forthis endorsement shall be 2.00 percent of the premium developed on payroll III connection with work performed for the above person(s) or organlptlon(s) arising out of the operations described, 4. Advance Premium INCLUDED, SEE INFORMATION PAGE. This andarsemdnt changes the policy to which 0 Is attached effective on the Inception dale of the policy unless a dlrferent dale is Indicated below. (The following "attaching clause" need be completed only when this endorsement Is Issued subsequent to preparatlon of the policy.) This endorsement, effeollve on M 12:01 A.M. standard time, tons a part of PolloyNo. TSF -0010030703 20130328 of the Texas Mutual Insurance Company Issued to ALLEN TE I NERT CONSTRUCTION COMPANY Endorsement No. DBA; TE I NERT COMMERCIAL BUILDING SERVICES Premium $ Authorized Representative WC420304A JED.1.01.2000) INSURED'S COPY OUSER' 2-28-2013