2018-5892 - 9/13/2018 RESOLUTION NO. 2018-5892
WHEREAS, JOHNSON OUTDOOR ADVERTISING, LP, a Texas limited partnership
("Seller") and NUNG, LLC, a Texas limited liability company ("Buyer") entered into the Commercial
Contract — Improved Property (as amended, the "Contract') dated as of June 23, 2017, providing for
the purchase and sale of the real property and improvements thereto located at 102 N. Mays Street in
Round Rock, Texas 78664; and
WHEREAS, Buyer desires to assign its interest as Buyer under the Contract to Round Rock
Transportation and Economic Development Corporation ("Assignee"); and
WHEREAS, Assignee desires to enter into an Assignment of Contract with Buyer, Now
Therefore
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE ROUND ROCK
TRANSPORTATION AND ECONOMIC DEVELOPMENT CORPORATION,
That the President is hereby authorized and directed to execute on behalf of the Round Rock
Transportation and Economic Development Corporation an Assignment of Contract, a copy of same
being attached hereto as Exhibit "A" and incorporated herein for all purposes.
The Board of Directors 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 upon, all as required by the Open Meetings Act,
Chapter 551, Texas Government Code, as amended.
RESOLVED this 13th day of September, 2018.
0112.1804;00408976
By:
_ A M /
CRAIG M RG , President
Round Rock Transportation and Economic
Development Corporation
ATTEST:
JON S AN, Secretary
2
EXHIBIT
«A„
01
ASSIGNMENT OF CONTRACT
JOHNSON OUTDOOR ADVERTISING, LP, a Texas limited partnership ("Seller") and NUNG,
LLC,a Texas limited liability company("Buyer")entered into the Commercial Contract—Improved
Property(as amended,the"Contract")dated as of June 23,2017,providing for the purchase and sale
of the real property and improvements thereto located at 102 N. Mays Street in Round Rock,Texas
78664, and legally described as follows:
Lot 1, JOHNSON'S ADDITION, a subdivision in Williamson County, Texas,
according to the map or plat thereof,recorded in Cabinet N, Slide 350,Map Records
of Williamson County, Texas.
Buyer desires to assign its interest as Buyer under the Contract to ROUND ROCK
TRANSPORTATION AND ECONOMIC DEVELOPMENT CORPORATION ("Assignee").
THEREFORE, for good and valuable consideration,the receipt and sufficiency of which is
hereby acknowledged, Buyer and Assignee agree as follows:
1. Buyer hereby assigns and transfers to Assignee all of Buyer's rights,title and interest
in and to the Contract.
2. Assignee hereby assumes all of Buyer's obligations and duties under the Contract.
3. Assignee agrees to pay to Buyer the earnest money in the amount of$15,000.00 paid
by Buyer and on deposit with the title company under the Contract and the extension fees in the total
amount of$32,500.00 paid by Buyer to Seller under the Contract.
4. Buyer shall be relieved of any future liability under the Contract.
5. All capitalized terms not defined herein shall have the same meaning as set forth in
the Contract. All other terms and provisions of the Contract shall remain unchanged and the
Contract shall continue in full force and effect.
[SIGNATURE PAGE FOLLOWS]
Page 1 of 2 Pages
21365194v.1
EXECUTED as of August , 2018.
BUYER:
NUNG,LLC,
a Texas limited liability company
By
Robert N. Lee, Manager
ASSIGNEE:
ROUND ROCK TRANSPORTATION AND ECONOMIC
DEVELOPMENT CORPORATION
By
Name:
Title:
Page 2 of 2 Pages
21365194v.1