R-89-1386 - 11/29/1989WHEREAS, Pfluger- Knebel Ranch Partnership ( "Seller ") and the
City of Round Rock, Texas ( "Purchaser ") entered into a Real Estate
Contract dated June 23, 1989, and
WHEREAS, Seller and Purchaser now desire to extend certain dates
and deadlines provided for in said Contract, 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 Addendum To Real Estate Constract, a copy of
said Addendum being attached hereto and incorporated herein for all
purposes.
RESOLVED this 29th day of November, 1989.
ATTEST:
C- RS11299A
NNE LAND, City Secretary
RESOLUTION NO. 1 U ([) `
MIKE ROBINSON, Mayor
City of Round Rock, Texas
THIRD ADDENDUM TO
REAL ESTATE CONTRACT
IV.
RE , :WED NOV) 7 1989
WHEREAS, Pfluger - Knebel Ranch Partnership ( "Seller ") and the City
of Round Rock, Texas ( "Purchaser ") entered into a Real Estate
Contract ( "Contract ") dated June 23, 1989, and
WHEREAS, Seller and Purchaser now desire to extend certain dates
and deadlines provided for in said Contract, Now Therefore
IT IS AGREED BY THE UNDERSIGNED AS FOLLOWS:
I.
Seller and Purchaser hereby expressly acknowledge that the
Contract, dated June 23, 1989 is a valid and subsisting agreement, as
amended by this Addendum, and do hereby readopt fully each of the
terms of said Contract and acknowledge the validity of said Contract
as hereby amended.
II.
Article 3.04 shall be amended so that the time period for
Purchaser to obtain- financ'ng shall be extended tc December 20, 1929.
The date for Purchaser to terminate the Contract if it has been
unable to obtain financing shall also be December 20, 1989.
III.
Article V shall be amended to extend the closing date to December
20, 1989.
The Addendum is executed to be effective as of November 20, 1989.
GbADDRLEST
SELLER:
Pfluger - Knebel Ranch Partnership
By:
Kenneth M. Pfluger
Partner
PURCHASER:
City offf Round Rock
By: /� �GP
Mike Robinson, Mayor
DATE: November 27, 1989
SUBJECT: Special Called City Council Agenda, November 29, 1989
ITEM: 3B. Consider a resolution authorizing the Mayor to enter
into an addendum for extending the date of closing
for the contract to purchase the Pfluger tract.
STAFF RESOURCE PERSON: Bob Bennett /Steve Sheets
STAFF RECOMMENDATION:
This resolution will authorize the extension of the closing date for
the purchase of the Pfluger Tract until December 20, 1989 to allow
for the financing of the golf course to close.
Staff recommends adoption of the resolution.