R-2014-1483 - 6/12/2014 r
RESOLUTION NO. R-2014-1483
WHEREAS, the City of Round Rock ("City") has previously entered into a Developer
Commitment Agreement with Avery Center Devco, Inc. ("Agreement") regarding the expansion of
FM 1460; and
WHEREAS, the City Council now wishes to enter into a Second Amendment to the
Agreement regarding reimbursements for the FM 1460 Project, Now Therefore
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BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
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That the Mayor is hereby authorized and directed to execute on behalf of the City, a Second
Amendment to Developer Commitment Agreement with Avery Centre Devco, Inc., a copy being
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attached hereto as Exhibit"A" and incorporated herein for all purposes.
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 12th day of June, 2014.
s
ALAN MCGRAW, Mayor
City of Round Rock, Texas
a
ATTEST:
SARA L. WHITE, City Clerk
0112.1404;00304311
EXHIBIT
"A"
SECOND AMENDMENT TO
DEVELOPER COMMITMENT AGREEMENT
This Second Amendment to Developer Commitment Agreement("Second Amendment")
is made by and between Avery Centre Devco, Inc., a Texas corporation (hereinafter called
"Developer") and the City of Round Rock,Texas, (hereinafter called"City"), both by and acting
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through their duly authorized officials.
WITNESSETH:
WHEREAS; the City and Developer entered into a Developer Commitment Agreement
(the"Agreement") effective May 28, 2009, setting forth various agreements and understandings
with respect to certain cost obligations regarding the construction of the widening of FM 1460
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from a two-lane to a four-lane roadway(the"Project"); and
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WHEREAS, the City and the Developer entered into a First Amended Agreement (the fl
"First Amended Agreement")effective July 9, 2009; and
WHEREAS, pursuant to the Agreement and the First Amended Agreement, the
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Developer was responsible for paying fifty percent(50%)of the total cost of the Project; and
WHEREAS, Developer submitted the sum of Two Million, Three Hundred Thousand and
No/100 Dollars($2,300,000.00)to the City as its share of the Project costs; and
WHEREAS, the Project is complete and the City and Developer agree that Developer is
entitled to be remitted the sum of$380,029; and
WHEREAS, the Developer has requested that the $380,029 be utilized by the City to
construct a portion of Seton Parkway;and
NOW THEREFORE, in consideration of the mutual covenants and agreements of the
parties hereto,the Developer and the City agree as follows;
Second Amendment to Developer Commitment Agreement(00296905x OM)
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AGREEMENT
1. The City and Developer agree that all of the terms and conditions of the
Agreement and the First Amended Agreement have been complied with in full.
2. The Developer agrees that the sum of$380,029, which is due as a reimbursement
to Developer under the Agreement and First Amended Agreement, shall be retained by the City
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and utilized for the construction of the extension of Seton Parkway, from its current terminus to €
Avery-Nelson Way.
3. The City agrees to be responsible for the construction of Seton Parkway as a
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three-lane roadway at the location described in Exhibit "A", attached hereto and incorporated
herein, within three (3) years after the approval of this Second Amended Agreement. If Seton
Parkway is not constructed and open to the public within said three (3) year term, the City shall t
remit to Developer the sum of$$380,029 within thirty (30) days receipt of written notice from
Developer. If Developer fails to submit said written notice within six (6) months after the
expiration of the three year term then Developer shall be deemed to have waived any interest it
has in such stun,and,the City shall be free to utilize it for other City projects.
IN WITNESS WHEREOF, the Developer and the City have executed duplicate
counterparts to effectuate the Second Amended Agreement.
AVERY CENTRE DEVCO, INC.
By:
o Avery, Presiden 2 3 f .1
ATTEST: THE CITY OF ROUND ROCK,TEXAS
By:
Sara White,City Clerk Alan McGraw,Mayor
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2.
No Text
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SECOND AMENDMENT TO
DEVELOPER COMMITMENT AGREEMENT
F
This Second Amendment to Developer Commitment Agreement ("Second Amendment")
is made by and between Avery Centre Devco, Inc., a Texas corporation (hereinafter called 3'
"Developer") and the City of Round Rock, Texas, (hereinafter called "City"), both by and acting
through their duly authorized officials.
WITNESSETH:
WHEREAS; the City and Developer entered into a Developer Commitment Agreement
(the "Agreement") effective May 28, 2009, setting forth various agreements and understandings
i
with respect to certain cost obligations regarding the construction of the widening of FM 1460
from a two-lane to a four-lane roadway (the "Project"); and
WHEREAS, the City and the Developer entered into a First Amended Agreement (the
"First Amended Agreement") effective July 9, 2009; and
WHEREAS, pursuant to the Agreement and the First Amended Agreement, the
i
Developer was responsible for paying fifty percent (50%) of the total cost of the Project; and
f
WHEREAS, Developer submitted the sum of Two Million, Three Hundred Thousand and
No/100 Dollars ($2,300,000.00)to the City as its share of the Project costs; and
WHEREAS, the Project is complete and the City and Developer agree that Developer is
entitled to be remitted the sum of$380,029; and
WHEREAS, the Developer has requested that the $380,029 be utilized by the City to
construct a portion of Seton Parkway; and
NOW THEREFORE, in consideration of the mutual covenants and agreements of the
F
parties hereto, the Developer and the City agree as follows:
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Second Amendment to Developer Commitment Agreement(00296905xA08F8)
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R-2014-1483
a
AGREEMENT t`
1. The City and Developer agree that all of the terms and conditions of the
Agreement and the First Amended Agreement have been complied with in full.
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2. The Developer agrees that the sum of$380,029, which is due as a reimbursement X
to Developer under the Agreement and First Amended Agreement, shall be retained by the City
and utilized for the construction of the extension of Seton Parkway, from its current terminus to .
Avery-Nelson Way.
3. The City agrees to be responsible for the construction of Seton Parkway as a
three-lane roadway at the location described in Exhibit "A", attached hereto and incorporated
herein, within three (3) years after the approval of this Second Amended Agreement. If Seton
r
Parkway is not constructed and open to the public within said three (3) year term, the City shall
remit to Developer the sum of$$380,029 within thirty (30) days receipt of written notice from
f
Developer. If Developer fails to submit said written notice within six (6) months after the
i
expiration of the three year term then Developer shall be deemed to have waived any interest it
has in such sum,and, the City shall be free to utilize it for other City projects.
IN WITNESS WHEREOF, the Developer and the City have executed duplicate y'
counterparts to effectuate the Second Amended Agreement.
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AVERY CENTRE DEVCO, INC.
By:
o Avery, President)
ATTEST: THE CITY OF ROUND ROCK, TEXAS
AA
By.
Sara White, City Clerk Alan McGraw, Mayor
2.
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