Contract - Billy and Beverly Ketchum - 7/23/2015 MEMORANDUM OF SETTLEMENT AGREEMENT
This is amemorandum of amediated settlement agreement,intended by the parties to comply
with Rule 11,TexRCivP, and §154.071 TCPRC,entered into between Billy Ketchum and Beverly
Ketchum (Together the "Ketchums"), the City of Round Rock, Texas ("CoRR"), and Freese &
Nichols, Inc. ("F&N"),respecting all matters at issue in Cause No. 14-0643-C277;Billy Ketchum
and Beverly Ketchum v. City of Round Roel; Texas and Freese & Nichols, Inc.; 277"' Judicial
District Court,Williamson County, Texas(the "Lawsuit").
The parties agree as follows:
1. Substantive provisions:
A. These terms are conditioned upon approval ("Approval") by all required
governmental entities for funding of the proposed improvement to RR 620,adjacent
to the Ketchums' property (the `.`Property") as identified in the pleadings of the
Lawsuit,which shall result in the taking of the Property subject to the requirements
of the Federal Relocation Assistance Benefits Act,which the Ketchums and CoRR
anticipate will result in a payment to the Ketchums in the approximate amount of
$247,000, more or less (Ketchums also to be able to remove any fixtures from the
Property). Such Approval shall occur before 10/15/15,failing which any party may
withdraw their consent to these terms. If any party withdraws consent to these terms
following the time for Approval, this agreement shall be of no further force and
effect. If Approval occurs before any party withdraws consent to these terms, all
parties shall be bound by these terms
B. Upon Approval, CoRR and F&N shall pay or cause to be paid to the Ketchums the
additional sum of$62,500.00(CoRR:$5,000.00;F&N:$57,500.00),in exchange for
which the parties will grant to one another,and to their respective affiliates,parents,
subsidiaries, owners, directors, officers, employers, employees, engineers,
consultants, agents,insurers and attorneys,a full and complete, general release for
all matters at issue in, or related to the facts giving rise to,the Lawsuit;
C. All attorneys' fees and costs will be borne by the parties as they were incurred.
2. On or before 30 days following Approval, the parties will enter into, and close with the
payment of the cash sums stated in 2.A above, a formal compromise and settlement agreement
reflecting the terms hereof,and providing for dismissal with prejudice of the Lawsuit. Initial drafts
of the settlement documents will be prepared by the attorney for CoRR, subject to the reasonable
approval of attorneys for the other parties.
3. The parties agree to reconvene the mediation if a dispute arises regarding the fiu-ther
documentation,conclusion or performance ofthis settlement(but this provision does not imply that
this agreement is not otherwise enforceable according to its terms).
Executed: July 14,2015
[signatures on following page]
12—'2U l� 'iii crJ
Parties: Attorney Approval as to Form:
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Billy Ket m
B� Ketch
CoRR
&N
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