TB-2021-008 - 9/23/2021 RESOLUTION NO. TB-2021-008
WHEREAS, the Round Rock Transportation and Economic Development Corporation
("TEDCO") has previously entered into that certain Economic Development Agreement
("Agreement")with Investex II, LLC as of July 2, 2020; and
WHEREAS, Investex II, LLC has assigned the Agreement to Investex, LTD, which is an
affiliate of Investex, II, LLC; and
WHEREAS, pursuant to Sec. 5.1 of the Agreement, such assignment does not require the
consent of TEDCO; and
WHEREAS, TEDCO and Investex II, LLC wish to amend Sec. 4.1 of the Agreement to extend
the deadline for completion of the Facility,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, the First Amendment to the Economic
Development Agreement with Investex II, LLC, a copy 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.
01 12.20212;00481278
RESOLVED this 23rd day of September, 2021.
By:
CRAIG MOR AN, Pr dent
Round Rock Transporration and Economic
Development Corporation
ATTEST:
RICK VILLARREXLI, Secretary
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EXHIBIT
"All
FIRST AMENDMENT TO THE
ECONOMIC DEVELOPMENT AGREEMENT
BETWEEN THE
ROUND ROCK TRANSPORTATOPM AND ECONOMIC DEVELOPMENT CORPORATIOti
AND
INVESTEX 11,LLC
This First Amendment to Economic Development Agreement ("Amendment") entered into this
day of August, 2021 (the "Effective Date") by and between the Round Rock Transportation and
Economic Development Corporation("TEDCO")and Invcstcx 11,LLC,a Texas limited liability company
"LnvesteY II"),
RECITALS
WHEREAS,TEDCO and Investex II entered into that certain Economic Development Agrccmcnt
("Agreement')as of July 2,2020;and
WHEREAS,Investex 11,LLC has assigned the Agreement to Investex:LTD,which is an affiliate
of Investex, II, LLC;and
WHEREAS,pursuant to Sec. 5.1 of the Agreement,such assignment does not require the consent
of TEDCO;and
WHEREAS, the parties wish to amend Sec. 4.1 of the Agreement to extend the deadline for
completion of the Facility,and
WHEREAS, except as amended herein, all of the terms and provisions of the Agreement shall
remain in effect and shall apply to this Amendment.
NOW, THEREFORE, in consideration of the mutual benefits and promises and for other good
and valuable consideration,the receipt and sufficiency of which are hereby acknowledged,the parties agree
as follows:
ARTICLE I
1.1 Section 4.1 of the Agreement is hereby amended to read as follows:
4.1. Construction. Investex intends to construct the Facility on or before December 31,
2022.
00477843
ARTICLE II
2.1 Investex hereby represents to TEDCO that it has assigned this Agreement to its affiliate,
Investex, LTD. TEDCO hereby acknowledges that pursuant to Sec. 5.1 of the Agreement, its
consent to the assignment is not required.
ARTICLE III
3.1 Interpretation. Each of the Parties has been represented by counsel of their choosing in the
negotiation and preparation of this Amendment. Regardless of which party prepared the
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initial draft of this Amendment,this Amendment shall,in the event of any dispute,however
its meaning or application, be interpreted fairly and reasonably and neither more strongly
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for or against any Party.
3.2 Applicable Law. This Amendment is made, and shall be construed and interpreted, under
the laws of the State of Texas and venue shall lie in Williamson County, Texas.
Executed to be effective this day of August, 2021.
ROUND ROCK TRANSPORTATOPM AND
ECONOMIC DEVELOPMENT CORPORATION
B :
Craig Morgan,an, President
APPROVED as to form:
Stephan L. Sheets, General Counsel
z
CNVESTEX II, LLC (Assignor)
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By. , its
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M VESTEX, LTD(Assignee)
By:
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