CM-09-11-233Amendment by City of Round Rock and Lower Colorado River Authority
to Purchase Agreement
This Amendment is entered by and between the City of Round Rock, Texas ("Round
Rock") and the Lower Colorado River Authority ("LCRA") to their obligations arising under the
"Purchase Agreement for the Brushy Creek Regional Wastewater System" effective September
10, 2009, by and between Round Rock, LCRA, and also the Cities of Cedar Park, Texas, and
Austin, Texas (the "Purchase Agreement").
For good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Round Rock and LCRA agree as follows:
1. The Purchase Agreement provides, in Section 1.5, that the Escrow Deposit will be
applied to the Purchase Price on the Closing Date or refunded. By this amendment, Round Rock
and LCRA agree that the Escrow Deposit provided by Round Rock will be treated as follows:
On the Closing Date, LCRA will apply Round Rock's Escrow Deposit to the
FY10 Over -/Under -Recovery as estimated in the Defeasance Amount update to be
provided December 4, 2009. Afterward, for any funds remaining in Round
Rock's Escrow Deposit, LCRA shall refund 97% of the remainder to Round Rock
within two (2) business days of the Closing Date. LCRA shall retain 3% of the
funds remaining in the Escrow Deposit after the Closing Date, and Round Rock
authorizes LCRA to apply those funds to any adjustment of the FY10 Over -
/Under -Recovery on January 8, 2010, in accordance with Section 1.3(d) of the
Purchase Agreement. Afterward, LCRA shall refund any funds remaining in
Round Rock's Escrow Deposit to Round Rock not later than January 9, 2010.
2. The Purchase Agreement provides, in Section 1.3(0, that the portion of the
Purchase Price that includes the LCRA Debt allocable to the Interceptors Agreement provides
that the Purchase Price shall be allocated 55% to Round Rock and 45% to Austin. This
allocation from the Purchase Agreement is inconsistent with the Interceptors Agreement, which
allocates capital costs 55.95% to Round Rock and 44.05% to Austin. Round Rock hereby agrees
that allocation of the LCRA Debt allocable to the Interceptors Agreement at Closing shall be
55.95% to Round Rock and 44.05% to Austin. Round Rock further agrees that LCRA shall use
the latter allocation percentages in preparation of the December 4, 2009, update to the
Defeasance Amount.
3. Except as expressly provided in paragraphs one and two above, nothing in this
Amendment shall be construed as amending the Purchase Agreement, and Round Rock and
LCRA retain all of their respective rights and obligations otherwise arising under the Purchase
Agreement. Capitalized terms contained in this Amendment shall have the same meaning as
provided in the Purchase Agreement. In the event of an irreconcilable conflict between terms
provided in this Amendment and terms contained in the Purchase Agreement, the terms of this
Amendment shall control as between Round Rock and LCRA. This Amendment is effective on
the date the last party executes this Amendment.
CITY OF ROUND ROCK, TEXAS
By:
Attest:
. Nuse, P.E., City Manager
Sara White, City Secretary
Date:G�-
LOWER COLORADO RIVER AUTHORITY
By:
Date:
Th 3mas G. Mason, General Manager
It -21 _°,61
Amendment by City of Round Rock
and Lower Colorado River Authority to Purchase Agreement
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