Contract - Pedcor Investments-2016-CLX, LP - 3/9/2017 ELECTRONICALLY RECORDED 2017024723
Williamson County, Texas Total Pages:4
FIRST AMENDMENT TO DEVELOPMENT AGREEMENT
THIS FIRST AMENDMENT TO DEVELOPMENT AGREEMENT ("Amended
Agreement") is executed between the City of Round Rock, Texas, a political subdivision
of the State of Texas (the "City") and Pedcor Investments-2016-CLX, L.P., a Texas
limited partnership (the "Developer"), to be effective on this 1411 day of Mair'
2017.
RECITALS:
WHEREAS, the City and the Developer entered into a Development Agreement
(the "Agreement") effective December 13, 2016, and adopted in Resolution No. R-2016-
3994, setting forth various agreements and understandings with respect to an affordable
housing development located at approximately 2250/2500 Old Settlers Boulevard East
within the City (the "Project"), more particularly described in Exhibit "A", attached
hereto (the "Property"); and
WHEREAS, the Project was described in Resolution No. 2016-3994 and within
the Development Agreement as a development for affordable rental housing with up to
256 dwelling units; and
WHEREAS, the Developer now intends to include more than 256 dwelling units in the
Project; and
WHEREAS, the City and Developer now wish to amend the Agreement as
described herein;
NOW THEREFORE, in consideration of the premises set forth above and of the
mutual covenants and agreements of the parties hereto, to be by them respectively kept
and performed as hereinafter set forth,the City and the Developer agree as follows:
I.
The Agreement is hereby amended to read as follows:
RECITALS
WHEREAS, Develo er is proposing to build/renovate an affordable housing
development with up to residential units (the "Project") on approximately
2250/2300 E. Old Settlers Blvd., within the City, as shown in Exhibit "A", attached
hereto.
/z..-?-btu
First Amendment to Pedcor Investments Development Agreement-sls redline(00373867xA08F8)
2017024723 Page 2 of 4
II.
This First Amendment to the Development Agreement shall amend the original
Agreement only as set forth herein with no other changes in terms or conditions of the
original Agreement.
Executed on thisd day of ' , 2017.
DEVELOPER:
Pedcor Investments-2016-CLX, L.P.
By:
Craig H. Lintner Its: SVP Development
CITY:
ROUND ROCK, TEXAS
By:
Alan McGraw, Mayor
Attest:
I al
gOn %/r
Sara White, City Clerk
2
2017024723 Page 3 of 4
ACKNOWLEDGMENT
STATE OF TEXAS
COUNTY OF WILLIAMSON
This instrument was acknowledged before me on the / day of
LG , 2017, by Alan McGraw, Mayor of the City of Round
Rock, Texas, on behalf of said city. `iVel J /'
111,\\`\�►►uu n u►ui,,,,�i
p,N
M. Sp�N�,,� Notary Public, State o exas
s.
z:'i 0 My Commission expires:Ve3/20/g)
et-
4'E OF\'
%•...expl n• b
Q `��
'//i1 09-093,,\``� ACKNOWLEDGMENT
STATE OF TEXAS
COUNTY OF WILLIAMSON
This •nstiument was acknowledged before me on the 9 day of
, 2017, by Craig H. Lintner, SVP Development of Pedcor
Investments-2016-CLX, L.P, on behalf of said limited liability compa.
PL;W Hl Tcc /
/
.e'z, Y PUe��c� Notary Public, State of Texas
My Commission expires: !ice
1:3
After recording, ret °�#.....1 0`�°��`\`\�
Sheets&Crossfield, P.csla„1„+1+0�
309 East Main Street
Round Rock, Texas 78664
3
2017024723 Page 4 of 4
ELECTRONICALLY RECORDED
OFFICIAL PUBLIC RECORDS
2017024723
Pages: 4 Fee: $29.00
03/21/2017 12:38 PM
,
,If. i�� •I .l v ���
Nancy E. Rister,County Clerk
Williamson County,Texas
FIRST AMENDMENT TO DEVELOPMENT AGREEMENT
THIS FIRST AMENDMENT TO DEVELOPMENT AGREEMENT ("Amended
Agreement") is executed between the City of Round Rock, Texas, a political subdivision
of the State of Texas (the "City") and Pedcor Investments-2016-CLX, L.P., a Texas
limited partnership (the "Developer"), to be effective on this ifday of i+- ,
2017.
RECITALS:
WHEREAS, the City and the Developer entered into a Development Agreement
(the "Agreement") effective December 13, 2016, and adopted in Resolution No. R-2016-
3994, setting forth various agreements and understandings with respect to an affordable
housing development located at approximately 2250/2500 Old Settlers Boulevard East
within the City (the "Project"), more particularly described in Exhibit "A", attached
hereto (the "Property"); and
WHEREAS, the Project was described in Resolution No. 2016-3994 and within
the Development Agreement as a development for affordable rental housing with up to
256 dwelling units; and
WHEREAS, the Developer now intends to include more than 256 dwelling units in the
Project; and
WHEREAS, the City and Developer now wish to amend the Agreement as
described herein;
NOW THEREFORE, in consideration of the premises set forth above and of the
mutual covenants and agreements of the parties hereto, to be by them respectively kept
and performed as hereinafter set forth,the City and the Developer agree as follows:
I.
The Agreement is hereby amended to read as follows:
RECITALS
WHEREAS, Develo eris proposing to build/renovate an affordable housing
development with up to 15? residential units (the "Project") on approximately
2250/2300 E. Old Settlers Blvd., within the City, as shown in Exhibit "A", attached
hereto.
First Amendment to Pedcor Investments Development Agreement-sls redline(00373867xA08F8)
II.
This First Amendment to the Development Agreement shall amend the original
Agreement only as set forth herein with no other changes in terms or conditions of the
original Agreement.
Executed on thisday of Ahw-� , 2017.
DEVELOPER:
Pedcor Investments-2016-CLX, L.P.
By:
Craig H. Lintner Its: SVP Development
CITY:
ROUND ROCK, TEXAS
By: 1A A"-�
Alan McGraw, Mayor
Attest:
Q�ML- 9 R7
Sara White, City Clerk
2
ACKNOWLEDGMENT
STATE OF TEXAS
COUNTY OF WILLIAMSON
This instrument was acknowledged before me on the / day of
W OJW,A--, , 2017, by Alan McGraw, Mayor of the City of Round
Rock, Texas, on behalf of said city. `_,✓Y (•�
N / Notary Public, State o exas
My Commission expires: / 9 �DI2S
Z10 -
�r.14 of dye•
moi, ..EXP►�.•'�� ��``
ACKNOWLEDGMENT
STATE OF TEXAS
COUNTY OF WILLIAMSON
This 'nstrument was acknowledged before me on the day of
2017, by Craig H. Lintner, SVP Development of Pedcor
Investments-2016-CLX, L.P, on behalf of said limited liability compa .•
%• Notary Public, State of Texas
My Commission expires:
1 .
After recording, retC ••�`12650,•
Sheets&Crossfield,
309 East Main Street
Round Rock, Texas 78664
3