R-2015-2638 - 7/9/2015 RESOLUTION NO. R-2015-2638
WHEREAS, the City of Round Rock ("City") has previously entered into a contract to
purchase a tract of land in the Bear Creek Place Subdivision ("Property"), as described in the
Commercial Contract Amendment, and
WHEREAS, Jerry and Linda Bradley, the owners of the Property, have agreed to sell an
additional tract to the City,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 a
Commercial Contract Amendment with Jerry and Linda Bradley, for the purchase of the properties
described in said Amendment, a copy of which is attached hereto as Exhibit "A" and incorporated
herein.
The City Council hereby finds and declares that written notice of the date, hour, place and
subject of the meeting at which this Resolution was adopted was posted and that such meeting was
open to the public as required by law at all times during which this Resolution and the subject matter
hereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act,
Chapter 551, Texas Government Code, as amended.
RESOLVED this 25th day of June, 2015.
ALAN MCGRAW, Mayor
City of Round Rock, Texas
ATTEST: I
• ( `G6ek—
SARA L. WHITE, City Cleric
0112.1504;00337479
EXHIBIT
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"A"'
TEXAS .ASSOCIATION OF REALTORS®
COMMERCIAL CONTRACT AMENDMENT
USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTOR&D IS NOT AUTHORIZED.
OTexas Association of REALTORSO,Inc.2010 l;
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AMENDMENT TO COMMERCIAL CONTRACT BETWEEN THE UNDERSIGNED BUYER AND SELLER
CONCERNING THE PROPERTY AT
A portion of Lot 1, of Bear Creek Place
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Effective June 17 2015 , Seller and Buyer amend the contract as!follows: (Check all applicable
,boxes.)
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❑ A. Sales Price: The sales price in Paragraph 3 of the contract is changed to: 1
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Cash portion payable by Buyer at closing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 950,000.00
Sum of all financing described in the contract . . . . . . . . . . . . . . . . . . . . $
Sales price (sum of cash portion and sum of all financing) . . . . . . . ... . . . .;. . . . .$ 950,000.00
Ell B. Property Description: The Property's legal description in Paragraph 2A of the contract is changed to:
A portion of Lot 1, of BEAR CREEK PLACE, an addition inland to the City of
Round Rock, Williamson County, Texas, according to the map or plat thereof
recorded in Cabinet K, Slides 63--64, Plat Records, Williamson County, Texas,
SAVE AND EXCEPT 9.821 acres of land conveyed to VFilliamson County in deed
recorded under Document No. 2001070824 and corrected under Document No.
2005093404 Official Public Records, Williamson County, Texas.
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And
Bear Creek Place, Lot 1 (PT) , 2.59 acres. WCAD No. R330703. Commonly known
as 2721 Sam Bass Road, Round Rock, Texas 78681.
❑ C. Repairs: Buyer accepts the Property in its present condition except that Seller, at Seller's expense, will
complete the following before closing:
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(TAR-1932) 1-26-10 Initialed for Identification by Se er. v_` and Buyer- Page 1 of
Summit Cominercial 20 Chisholm Trail Round Rock,TX 78681
Pllone:(512)244-9707 Fax: Russ Boles lem,Bradley
Produced with ZipFonn®byzipLogix 18070 Fifteen Mile Road,Fraser,Michigan 48026 wvnv.z oLQgix.com
Amendment to Commercial Contract concerningA_portion of Lot 1, of Bear Creek Place
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❑ D. Extension of Feasibility Period: For nominal consideration, the receipt of which Seller acknowledges,
and the consideration described under (1) or (2) below, if any, Buyer's right to terminate under
Paragraph 7B of the contract is extended until 11:59 p.m. on Sebtember 30. 2015
D (1) The independent consideration for Buyer's right to terminate that willbe deducted from the earnest
money if Buyer terminates the contract under Paragraph 7B(1) is increased to a total amount of
$ (Insert an amount greater than the amount in Paragraph 7B(1)of the contract.)
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!(2) Buyer has paid Seller additional consideration of$ 3.000.00 for the extension. This
additional consideration d will ❑ will not be credited to the sales price upon the closing of the
sale.
❑ E. Closing: The closing date in Paragraph 10A of the contract is changed toOctober 15 , 2015
d F. Expenses: At closing Seller will pay the first $ of Buyers expenses under
Paragraph 13 of the contract.
❑ G. Waiver of Right to Terminate Upon final acceptance of this Amendment, Buyer waives the right to
terminate,under Paragraph 7B of the contract.
d H. Other Modifications:
1. Seller is selling persuant to Section 1033 of the IRS Code.
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2. Buyer may lease the Property back up to six (6) months, with the
rental amount being part of the Sale Price.
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Seller: Buyer: City of Round Rock
By: Jerry T. Bradle By: 6
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By(signatuejBy(signature):
Printed Name. Printed Name:
Title: Title:
By: Linda L. Bradley -By:
By(signature : By(signature):
Printed Name: L1iA1j-),qL - 17� Printed Name:- I rV/y , L4L-
Title: Title:
(TAR-1932)1-26-10 Page 2 of 2
Produced with zipForn%D by zipLogix 18070 Fifteen Mile Road,Fraser,Michigan 48026 wvnv.zipLogix.com Jerry Bradley
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