Contract - Joe Johnson, Camilia Johnson, Corey Johnson - 2/14/2019 � Y
February it 2019
Craig Morgan, Mayor
Round Rock City Council
221 E. Main St.
Round Rock, Texas 78664
Re: Letter of Intent to sell Lots, 1, 3, 5, 6, 7, 8, 9, and 10, Black 36, Original Plat of
the City of Round Rock
Dear Mayor Morgan:
Please consider this Letter of Intent ("LOI") to sell the property referenced above
to the City of Round Rock(the "City") under terms and conditions listed below:
1. Seller: Joe Douglas Johnson, Camilia Johnson, and Corey Johnson
2. Buyer: City of Round Rock,Texas
3. Property: Lots 1, 3, 5, 6, 7, 8, 9, and 10, Block 36, Original Plat of the
City of Round Rock
4. Price: $4,200,000.00.
5. Relocation cost: $250,000.00
6. Survey: If necessary, Buyer will bear the cost of a survey.
7. Feasibility Period: 30 days.
8. Closing: 30 days after the expiration of the Feasibility Period.
9. Title Company: Georgetown Title Company at Buyer's cost.
10. Brokerage Fees: Not applicable.
All other terms and conditions of the sale of the Property shall be made in
accordance with one or more mutually acceptable Real Estate Sales Contract(s)
("Contracts") which shall be negotiated and executed by Buyer and Seller as promptly as
reasonably possible after the execution of this LOI. This LOI does not constitute either an
offer or an acceptance by either party. The terms and provisions of this LOI are not
binding on either party until the Contracts are approved and signed by both parties.
0417619.DOCX
It is our understanding that when this LOI is approved by the City, that the City Attorney
will draft the Contracts for our review and approval.
Sincerely,
e Douglas Jo son
Camilla Johnson
Coreylo son
ACCEPTED AND AGREED this � day of February, 2019.
THE CITY OF ROUND ROCK TEXAS
By:
_ Am /
Crah Morg , ayor
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