Contract - KR CC, Inc. and DR Acquisitions - 5/28/2026 ASSIGNMENT
This Assignment ("Assignment") is entered into by and between KR CC, Inc.
and KR Acquisitions LLC (collectively "Assignor") and Saba II LLC ("Assignee").
The above entities may be referred to herein as "Party" or "Parties" as the context may
require.
RECITALS
WHEREAS, Assignors entered into an Economic Program Development
Agreement ("Agreement") with the City of Round Rock ("City") and Round Rock
Transportation and Economic Development Corporation on December 15, 2016; and
WHEREAS, pursuant to Section 5.04 of the Agreement, the City pays to
Assignor a monthly Economic Incentive Payment("EIP"); and
WHEREAS,Assignee is the owner of a retail establishment, "The Last Bite" (the
"Candy Store")that is a part of the Project as defined in the Agreement; and
WHEREAS, pursuant to Section 5.04 of the Agreement, the City has paid EIP's
to Assignor, consisting of certain City and State sales taxes associated with past sales
generated by the Candy Store(the"Candy Store Past Sales Tax Receipts"); and
WHEREAS, the Assignor desires for the City to make one or more payments to
Assignee from future EIP's owed by City to Assignor, such payments being equal to all
Candy Store Past Sales Tax EIP's paid to Assignor; and
WHEREAS, pursuant to Section 5.04 of the Agreement, absent this Assignment,
the City would continue to pay to Assignor EIP's consisting of certain City and State
sales taxes associated with future sales generated by the Candy Store (the "Candy Store
Future Sales Tax Receipts"); and
WHEREAS, the Assignor desires for all Candy Store Future Sales Tax EIP's to
be assigned to Assignee and paid by the City directly to the Assignee; and
WHEREAS,pursuant Section 6.10 of the Agreement, Assignor may assign all or
part of its rights and obligations under the Agreement with the City's express consent;
NOW,THEREFORE, it is hereby agreed between the Parties as follows:
I.
ASSIGNMENT AND ACCEPTANCE
1.1. Assignor hereby assigns to Assignee all of its rights to that portion of the EIP's
equal to the Candy Store Past Sales Tax Receipts and to Candy Store Future Sales
Tax Receipts.
1.2. Assignor acknowledges and agrees that the City has already paid EIP's to
Assignor that included Candy Store sales tax receipts. As such, Assignor
consents to the City decreasing future payments to Assignor under the Agreement
by the amount that the City pays Assignee pursuant to Sections 1.3 and 1.4.
1.3. Assignor agrees that City should make a payment to Assignee equal to all past
City and State sales tax that were included in previous EIP's to Assignor. Such
payment shall be made as and when amounts are otherwise payable to Assignor
under the Agreement.
1.4. Assignor agrees that City should pay all future EIP's associated with the Candy
Store sales tax receipts to Assignee.
II.
ACCEPTANCE OF ASSIGNMENT
2.1 Pursuant to the requirements of Section 6.10 of the Agreement, City gives its
express consent and hereby accepts the assignment of the portion of the Assignor's rights
set forth
IN WITNESS WHEREOF, the above-named parties have caused this document to be
executed on the dates provided below by their duly authorized agents to be retroactively
effective as of the2V4 day of a ,2026.
[Signatures on the following page]
ASSIGNORS
KR CC,Inc.
By:_1"7,&
Todd Nelson, resident
Date: April 29,2026
KR Acquisitions LLC
By:
IF r
Todd Nelson, Pieiide t
Date: April 29, 2026
ASSIGNEE
i
Saba II LLC
By:
Todd Nelson, Managing tuber
Date: April 29,2026
Consent and Acknowledgement
City of Ro d Rock
By:
Craig A4orga Mayor
Date: 2020
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