R-2022-378 - 11/17/2022 RESOLUTION NO. R-2022-378
WHEREAS, on April 12, 2018, the City of Round Rock ("City") and TOTKN, LLC entered
into an Economic Development Program Agreement("Agreement"), and
WHEREAS, City and TOTKN, LLC now wish to terminate the Agreement,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 an
Agreement to Terminate Economic Development Program Agreement with TOTKN, LLC, 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 upon, all as required by the Open Meetings Act,
Chapter 551, Texas Government Code, as amended.
RESOLVED this 17th day of November, 2022.
CRAIG ORG , Mayor
City of ound lyck, Texas
ATTEST:
AGAN JIKS, Ifity Clerk
0 1 12.20222;4891-9687-8397
EXHIBIT
„A►, .01
AGREEMENT TO TERMINATE
ECONOMIC DEVELOPMENT PROGRAM AGREEMENT
This Agreement to erminate Economic Development Agreement("this Agreement") is entered into this
day of 2022, by and between the City of Round Rock, Texas, a Texas home
rule municipal cor oration ("City"), and TOTKN, LLC("TOTKN"), a Texas Limited Liability Company. The
foregoing are refer ed to collectively as the"Parties."
WHEREAS, on the 12`h day of April, 2018, the Parties entered into that one certain Economic
Development Progr3m Agreement(the"Program Agreement");and
WHEREAS,the Part es now wish to terminate the Program Agreement;
NOW THEREFORE, in consideration of the mutual covenants and agreements herein contained, the
sufficiency of whic are hereby conclusively acknowledged, and subject to the terms and conditions
hereinafter set fort ,the Parties mutually agree as follows;
ARTICLE I
TERMINATION OF PROGRAM AGREEMENT
1.01 The Parties igree that the Program Agreement is hereby terminated.
ARTICLE II
MUTUAL RELEASE
2.01 The Parties release and forever discharge the other party to the Program Agreement from all
claims, demands, dz mages, actions, causes of action, or suits in equity, of any kind or nature, accruing
before or after the c ate of this Agreement and whether known or unknown on this date,for or because
of any matter or thi g done, omitted or suffered to be done or omitted in any way directly or indirectly
arising out of the Program Agreement.
CITY OF ROUND ROCK,TEXAS
By:
Craig Morgan,Mayor
APPROVED AS TO FORM:
Stephan L.Sheets,City Attorney
TOTKN,LLC
By:_- ��A Z�= —
Jame ichael Farr,Manager
Termination Agreem nt;09.21.22 4893-3868-5489 v.l TOTKN