R-89-1322 - 8/24/1989WHEREAS, the City of Round Rock ( "City ") and Franklin Capital
Corporation ( "Franklin ") executed that certain Letter of Intent dated
effective as of March 31, 1989, and
WHEREAS, the City and Franklin desire to amend the Letter of
Intent to extend the termination date from September 1, 1989 through
November 1, 1989, and
WHEREAS, a First Amendment to Letter of Credit has been prepared
to accomplish the foregoing, Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
That the Mayor is hereby authorized to amend the Letter of
Intent to extend the termination date from September 1, 1989 through
November 1, 1989.
RESOLVED this 24th day of August, 1989.
ATTEST:
4.4/ ' AO 1 if_
(ANNE LAND, City Secretary
C- RS08249G
RESOLUTION NO. i3 a./ 2
MIKE ROBINSON, Mayor
City of Round Rock, Texas
CITY .
ATTEST:
By:
1
/A 1 A
FRANKLIN:
/3 22'
ty Secretary
F: \MAHERNDO \9588 \0025 \Amend.1t2
FIRST AMENDMENT TO LETTER OF INTENT
This First Amendment to Letter of Intent ( "Amendment ") is
entered into effective as of August 24, 1989, by and between City
of Round Rock, a home rule municipal corporation ( "City "), and
Franklin Capital Corporation, a Texas corporation ( "Franklin ").
WHEREAS, the City and Franklin executed that certain
Agreement, dated effective as of March 31, 1989 ( "Letter of
Intent"); and
WHEREAS, the City and Franklin desire to amend the Letter of
Intent as provided below.
NOW, THEREFORE, for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged and
confessed, the City and Franklin do hereby modify the Letter of
Intent as follows:
1. Termination Date. The termination date of September 1,
1989, as set forth in Article VII of the Letter of Intent, is
hereby extended through November 1, 1989.
2. Counterparts. This Amendment may be executed in one or
more counterparts, each of which shall be deemed an original for
all purposes.
3. Ratification. To the extent necessary to effect the
terms and provisions of this Amendment, the Letter of Intent is
hereby amended. In all other respects, the Letter of Intent is
hereby ratified and confirmed.
CITY OF ROUND ROCK, TEXAS,
a home rule municipal corporation
By:
By:
Mike Robinson
Mayor
FRANKLIN CAPITAL CORPORATION,
a Texas corporation
Name:
Title:
-1-- 1,,,)
ty
/U`)/
DATE: August 21, 1989
SUBJECT: Council Agenda, August 24, 1989
ITEM: 12G. Consider a resolution authorizing the Mayor to execute a First
Amendment to Letter of Intent with Franklin Capital Corporation
regarding dedication of golf course property.
STAFF RESOURCE PERSON: Bob Bennett
STAFF RECOMMENDATION:
This amendment will extend the termination date of the Letter of Intent
between the City and Franklin Capital Corporation from September 1, 1989 to
November 1, 1989.