R-13-08-08-G16 - 8/8/2013RESOLUTION NO. R -13-08-08-G16
WHEREAS, Summit Commercial Industrial Properties, LLC ("Broker") represents NIR
Investments, Ltd. on the sale of the real property located at 115 Bagdad ("Property"), which it leases to
BGS Acquisitions Corp., which is operating the Builders Gypsum Supply Company at such location;
and
WHEREAS, upon closing of the Property, the City of Round Rock agrees to pay Broker a
sales commission equal to six percent (6%) of the sale price; and
WHEREAS, the City and Broker wish to enter into a Letter of Agreement regarding broker
fees for the purchase of the Property, Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
That the Mayor is hereby authorized and directed to execute on behalf of the City said
Agreement, a copy of same being attached hereto as Exhibit "A" and incorporated herein for all
purposes.
The City Council hereby finds and declares that written notice of the date, hour, place and
subject of the meeting at which this Resolution was adopted was posted and that such meeting was
open to the public as required by law at all times during which this Resolution and the subject matter
hereof were discussed, considered and formally acted
RESOLVED this 8th day of August, 2013.
OitYi
ALAN MCGRAW, Mayor
City of Round Rock, Texas
ATTEST:
L.
SARA L. WHITE, City Clerk
0112.1304;00279675
EXHIBIT
AGREEMENT
THE STATE OF TEXAS
COUNTY OF WILLIAMSON
THIS AGREEMENT is made and entered into by and between Summit Commercial Industrial
Properties, LLC ("Broker") and The City of Round Rock.
WHEREAS Broker represents N.I.R. Investments, LTD on the sale of the real property described
below ("Property") to the City of Round Rock. Upon the closing and sale of the Property, the City of
Round Rock agrees to pay Broker a sales commission equal to six percent (6%) of the sale price.
Property:
BEING 2.1355 acres of land out of the Wiley Harris Survey, Abstract No. 298, in the City of Round
Rock, Williamson County, Texas, described in Deed to William P. Vince, Trustee, recorded under
Document No. 9620827, Official Records of Williamson County, and being all that certain tract of land
called 2.132 acres described in Deed from The Missouri Pacific Railroad to Cecil L. Slayton recorded in
Volume 758, Page 427, Deed Records of Williamson County, and being more particularly described in
Exhibit A, attached hereto and made a part thereof;
And
BEING 0.8791 of an acre of land out the Wiley Harris Survey, Abstract No. 298, in the City of
Round Rock, Williamson County, Texas, and being a part of that certain tract or parcel of land described
in a Deed to the International and Great Northern Railroad Company recorded in Volume 22, Page 441,
Deed Records of Williamson County, and being more particularly described in Exhibit 8, attached hereto
and made a part thereof.
SAID Property being conveyed from NIR Investments, Inc. to the City of Round Rock by that
certain Real Estate Contract dated July , 2013.
SIGNED, ACCEPTED AND AGREED TO this day of July, 2013 by the undersigned
parties, who acknowledge that they have read and understood this Agreement and execute this legal
document voluntarily and of their own free will.
City of Round Rock Summit Commercial Industrial Properties, LLC
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ROUND ROCK, TEXAS
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City of Round Rock
Agenda Item Summary
Agenda Number: G.16
Title: Consider a resolution authorizing the Mayor to execute a Letter of
Agreement with Summit Commercial Industrial Properties, LLC regarding
broker fees for the purchase of approximately 3 acres of land located at
115 Bagdad.
Type: Resolution
Governing Body: City Council
Agenda Date: 8/8/2013
Dept Director: Steve Norwood, City Manager
Cost:
Indexes:
Attachments: Resolution, Exhibit A
Text of Legislative File 13-625
City of Round Rock
Page 1 Printed on 8/5/2013
EXECU1ED
ORIGINAL
DOCUMEN1S
FOLLOW
AGREEMENT
THE STATE OF TEXAS
COUNTY OF WILLIAMSON
THIS AGREEMENT is made and entered into by and between Summit Commercial Industrial
Properties, LLC ("Broker") and The City of Round Rock.
WHEREAS Broker represents N.I.R. Investments, LTD on the sale of the real property described
below ("Property") to the City of Round Rock. Upon the closing and sale of the Property, the City of
Round Rock agrees to pay Broker a sales commission equal to six percent (6%) of the sale price.
Property:
BEING 2.1355 acres of land out of the Wiley Harris Survey, Abstract No. 298, in the City of Round
Rock, Williamson County, Texas, described in Deed to William P. Vince, Trustee, recorded under
Document No. 9620827, Official Records of Williamson County, and being all that certain tract of land
called 2.132 acres described in Deed from The Missouri Pacific Railroad to Cecil L. Slayton recorded in
Volume 758, Page 427, Deed Records of Williamson County, and being more particularly described in
Exhibit A, attached hereto and made a part thereof;
And
BEING 0.8791 of an acre of land out the Wiley Harris Survey, Abstract No. 298, in the City of
Round Rock, Williamson County, Texas, and being a part of that certain tract or parcel of land described
in a Deed to the International and Great Northern Railroad Company recorded in Volume 22, Page 441,
Deed Records of Williamson County, and being more particularly described in Exhibit B, attached hereto
and made a part thereof.
SAID Property being conveyed from NIR Investments, Inc. to the City of Round Rock by that
certain Real Estate Contract dated 45 , 2013.
SIGNED, ACCEPTED AND AGREED TO this fid
day of Jtriy, 2013 by the undersigned
parties, who acknowledge that they have read and understood this Agreement and execute this legal
document voluntarily and of their own free will.
City of Round Rock
odah 1014114 w, Maya_
Summit Commercial Industrial Properties, LLC