CM-2018-1784 - 7/16/2018THIRDAMENDMENT
TO THE
CONTRACT FOR SALE OF REAL PROPERTY
BETWEEN THE
CITY OF ROUND ROCK
AND
TOTKN LLC
THIS THIRD AMENDMENT TO THE CONTRACT FOR SALE OF REAL PROPERTY
BETWEEN THE CITY OF ROUND ROCK AND TOTKN, LLC (the "Third Amendment") is dated and
entered into to be effective July 13, 2018, by and between the City of Round Rock, Texas, a home rule
municipal corporation, (the "Seller") and TOTKN, LLC a Texas limited liability company, ("Purchaser").
WHEREAS, on the 17th day of April, 2018, Seller and Purchaser previously entered into a Contract for
Sale of Real Property (the "Contract");
WHEREAS, Seller and Buyer have previously entered into two amendments to the Contract to extend the
date of the Closing; and
WHEREAS, the parties wish to amend certain terms and provisions in the Contract;
NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, the
sufficiency of which are hereby conclusively acknowledged, and subject to the terms and conditions
hereinafter set forth, the parties agree as follows:
ARTICLE 1
DEFINITIONS
All terms used herein shall have the meanings assigned to them in the Contract, unless the context clearly
requires otherwise.
ARTICLE 11
AMENDMENT TO SECTION 3.02
Section 3.02 of the Contract is hereby amended to read as follows:
3.02 Within seven (7) days after the Effective Date of the Third Amendment to the
Contract, Seller shall deliver or cause to be delivered to Purchaser, at Seller's cost,
a Commitment for Title Insurance ("Title Commitment") from Independence Title
Company at 5900 Shepard Mountain Cove, Building II, Suite 200, Austin, Texas
78730, telephone 512-454-4500 Ext. 3121, acting by and through its agent, Gay
Heavilin .,heavilin inde endencetitle.com). ("Title Company"). The Title
Commitment shall set forth the status of the title of the Property and show all liens,
claims, encumbrances, easements, rights-of-way, encroachments, reservations,
Third amendment to Contract; 7-13-18 (RK).docx
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restrictions, and any other matters affecting the Property. The Title Company shall
furnish a copy of all documents referred to in the Title Commitment, including, but
not limited to, deeds, lien instruments, plats, reservations, restrictions, and
easements ("Title Review Documents").
ARTICLE III
AMENDMENT TO SEC. 5.01
Section 5.01 of the Contract is hereby amended to read as follows:
5.01 Subject to the Purchaser's Conditions for Closing (as defined in Section 3.01 above) being
satisfied, the closing will be held at the offices of the Title Company, Texas on or before
August 14, 2018 (herein referred to as the "Closing Date"), but the parties may mutually
agree in writing for closing at a different date, time and/or place.
ARTICLE IV
MISCELLANEOUS
4.1 By execution of this Third Amendment, Seller and Purchaser hereby authorize and direct
Georgetown Title Company to transfer and deliver the $25,000.00 Escrow Deposit and $1,000
Independent Contract Consideration to Independence Title Company, at the address provided in Article
II of this Third Amendment
4.2 To the extent necessary to affect the terms and provisions of this Third Amendment, the Contract
is hereby amended and modified. In all other respects, the aforesaid Contract is hereby ratified and
confirmed.
4.3 This Third Amendment may be executed in counterparts, each of which shall be an original and all
of which together shall constitute but one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have caused this Third Amendment to be duly
executed as of the day and year first above written.
SELLER
CITY OF ROUND ROCK, TEXAS
eel
By:
aurae a ey, attage xr JWpNt fir
221 East Main Street
Round Rock, Texas 78664
Date: d [ Za f
2
PURCHASER
TOTKN, LLC, a Texas limited liability
com;I011
By:
gestlaiid
Farr, Manager
Ridge Road
Dripping Spr'ngs, Texas
Date: �� J
3
RECEIPT
Receipt of [ ] copy of Contract and [ ] $25,000 Escrow Deposit, and [ ] $1,000
Independent Contract Consideration is acknowledged.
Independence Title Company
By: _
Escrow Agent
Date:
4