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CM-07-02-022COMPROMISE SETTLEMENT AGREEMENT AND RELEASE OF CLAIMS This Agreement is by and between Nelson L. Nagle, Nagle Holdings, L.P., and Round Rock Development Group, L.L.C., hereinafter referred to collectively as the "Nagle Entities", and the City of Round Rock, Texas, hereinafter referred to as the "City". RECITALS 1. There is a dispute between the parties to this Agreement regarding certain tax reimbursements for three tracts of land owned by the Nagle Entities, said tracts being located within the City of Round Rock at 400 West Main, 309 West Main and 110 South Harris (the "Properties"). 2. All parties concede that bona fide disputes and controversies exist as to the amounts of tax abatements, tax exemptions, and/or tax reimbursements (hereinafter "Tax Claims"), if any, that are due to the Nagle Entities. 3. All parties wish to dispose of the entire dispute between them, including all claims and causes of action of any kind that currently exist or that may have existed regarding the Tax Claims for the Properties. 4. All parties acknowledge that the purpose of this Agreement is to settle and finally dispose of all such Tax Claims arising from the Properties, whether known or unknown. TERMS OF AGREEMENT In consideration of the mutual promises and agreements contained in this Agreement, including the Recitals set forth above, the parties agree as follows: 1. Within 15 days after execution of this Agreement by the City, City agrees to pay to the Nagle Entities the sum of Six Thousand Three Hundred and Fifty and No/100 Dollars ($6,350.00). 2. In consideration for the terms and conditions as stated in this Agreement, the Nagle Entities do release, acquit, and forever discharge the City of Round Rock, Texas, its officers, agents and employees, from any and all claims or causes of action of any kind whatsoever, at common law, statutory or otherwise that the Nagle Entities have or might have, known or unknown, now existing or that might hereafter arise, directly or indirectly attributable to Tax Claims for the Properties. 3. It is expressly understood and agreed that the terms hereof are contractual and not merely recitals and that the agreements herein contained and the consideration transferred is to compromise doubtful or disputed claims, avoid ain't-"' O l op =oa9- 11689.doc/cdc/mp /� D J r — t 56 11 14.062 1 f litigation, and buy peace, and that no payments made will be construed as an admission of liability, all liability being expressly denied. 4. The Nagle Entities warrant that they have read this Agreement and fully understand it to be a compromise and settlement of all claims, known and unknown, now existing or that may arise hereafter that the Nagle Entities have or may have against the City regarding the Tax Claims for the Properties. Executed this the ___ day of khiti li, 2007. CITY OF ROUND ROCK, TEXAS R. NUSE, City Manager NELSON L. NAGLE If t NELSON L. NAGLE NELSON HOLDINGS, L.P. 1%1Yv. ' itr4 NELSON L. NAGLE, General Partner ROUND ROCK DEVELOPMENT GROUP, L.L.C. NELSON L. NAGL1✓, Pr!,' isent 2 STATE OF TEXAS COUNTY OF WILLIAMSON SUBSCRIBED AND SWORN TO before me by James R. Nuse, City Manager of the City of Round Rock, on this '' day of February, 2007. 7,4»)2z»2 No ary Public, Sta e of Texas My Commission Expires: / ' 3f(.) STATE OF TEXAS COUNTY OF WILLIAMSON SUBSCRIBED AND SWORN TO before me by Nelson L. Nagle, on this G% day of February, 2007. STATE OF TEXAS COUNTY OF WILLIAMSON Nota Zialt d)(tA—' Public, State of Texas My Commission Expires: /° 3 i .2-0/o SUBSCRIBED AND SWORN TO before me by Nelson L. Nagle, General Partner, Nagle Holdings, L.P., on this 5 day of February, 2007. My Commission Expires: /3j ° Pod) 3 STATE OF TEXAS COUNTY OF WILLIAMSON SUBSCRIBED AND SWORN TO before me by Nelson L. Nagle, President, Round Rock Development Group, L.L.C., on this day of February, 2007. 72 NoI'ary Public, State of Texas My Commission Expires: /31°0261 0 4 DATE: January 4, 2007 SUBJECT: City Council Meeting - January 11, 2007 ITEM: 15.B. Consider discussion and/or possible action related to pending or contemplated litigation, to wit: Nelson L. Nagle, Nagle Holdings, LP, and Round Rock Development Group, LLC.