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R-85-773 - 10/10/1985WHEREAS, the City Council deems it necessary to protect the public, health and safety by providing adequate roadways; and WHEREAS, certain landowners in the Northeastern portion of the City have petitioned the County Commissioners Court to create the Northeast Round Rock Road District No. 1 to upgrade portions of Sunrise Road and Chandler Road; and WHEREAS, in the event that the Road District is unable to timely complete the road, the Council desires fiscal assurance that funds will be available for the construction of the roads; and WHEREAS, a Contract has been prepared which, when executed by the landowners, will provide the needed fiscal assurance; 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 contracts with the landowners, a copy of said contract being attached hereto and incorporated herein for all purposes. RESOLVED this /9 day of O�r;6� ������60, 1985. AT ST: 1 // /L. i SLL/ nne Land, City Secretary RESOLUTION NO. 7 Mike Robinson, Mayor AGREEMENT REGARDING ROADWAY CONSTRUCTION STATE OF TEXAS § § KNOW ALL PERSONS BY THESE PRESENTS COUNTY OF WILLIAMSON § That this Agreement is made and entered into on this day of , 19 , by and between the City of Round Rock (hereinafter referred to as "City "), and hereinafter referred to as "Owners ", for the purposes and consideration hereinafter described: WHEREAS, the Owners, their successors and assigns are owners of a certain tract of land which is situated in the area known as The Northeast Round Rock Road District No. 1 as and identified as Tract No. on the attached Road District map marked Exhibit "A" and made a part hereof for all purposes and incorporated by reference as if fully set out herein, and WHEREAS, the Owners at this time desire to obtain certain approvals from the City to enable them to develop the said property, and WHEREAS, the City's roadway system in the subject area is not adequate to sustain any additional development without substantial roadway improvements linking major arterials and providing sufficient lanes to accomodate the traffic which will be generated by additional development, and WHEREAS, the Williamson County Commissioner's Court has created a County Road District pursuant to the laws of the State of Texas to provide funding to construct such roadways, and WHEREAS, the Owners and the City agree that it is in the best interests of both parties to provide at this time for the construction of an adequate roadway system as shown on the attached Exhibit "A ", NOW, THEREFORE, in consideration of the mutual promises, covenants and agreements set forth herein, the sufficiency of which 1 consideration is hereby acknowledged by both parties, the City and the Owners expressly agree and contract as follows: The Owners agree that should the Road District described herein fail to provide funds or cease to proceed in a reasonable and timely manner which would support the expectation of its ability to provide funds adequate for the construction of these roadways, the owner shall, within 5 working days of notice in writing by the City, post an irrevocable letter of credit in the amount of ($ ) in favor of the City, which letter of credit may be drawn by the City should the Road District ultimately fail to provide funding as required for construction of the Roadways described herein. MISCELLANEOUS This Agreement shall be subject to all valid and applicable rules, regulations, laws, agreements, and court judgments of or with the United States of America, the State of Texas, or any governmental body, agency or court having lawful jurisdiction thereof, so long as such rules, regulations, and agreements do not have the effect of voiding or negating the rights and obligations of the parties hereunder. This Agreement together with the Exhibit "A" attached hereto, constitutes the entire agreement between the parties hereto and may not be amended except by a writing signed by the parties and dated subsequent to the date hereof and shall be binding upon the heirs, administrators, successors and assigns of the parties. This agreement is for the sole benefit of the parties hereto, their successors and assigns. The parties executing this Agreement represent that they have full power and authority to execute this Agreement on behalf of the party each person represents. The effective date of this agreement shall be the date upon which the same is executed by the City. 2 EXECUTED in duplicate originals this day of 1985. Attest: CITY OF ROUND ROCK By: Joanne Lend, City Secretary Mike Robinson, Mayor OWNER: By: 3 Title: Eh.6' '9" MOP. 1.w LC1/L' CunTITALAL At AC 111R /1RT11.11T AC / li li 041010111 CRne1 211A11C. xaCC1. A. • n111 .0 1111.412 AC. .11 AT AC rC,G2M •1C. it COS tfTIILFM em MONTI ue1. 1 •1 •9,R2 AC. 110.[111. x0.5 111.21 AC. NORTHEAST ROUND ROCK ROAD DISTRICT 1 tl.RW • WW. Mal M. 01 eR.ua: CMUY1CIm1 MRID AC ULU AG MEL L MR W ARA 010101,0•1 07 . 11 •10 , 1•0021.1:01 . 110C, t., L .lei RL jtonne kW YUMAN. CDU111,"Km W. Mar .122. .21w Rol ��11CV0 111.1 . tlR Haynie & Kaltman Inc. Mi.aTU*G Maim. it 11// 0 [1 4 T..... M1 Sw1. x • u¢t Z • WC ma, MA G '"'" "' 11312- ,1,4 10 -1085