HomeMy WebLinkAboutRES 072517-J - Agmt 3834 Mgmt LLCRESOLUTION NO. 6-1 DS I —) - Y
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GEORGETOWN
MAKING CERTAIN DETERMINATIONS AND AUTHORIZING THE
MAYOR TO EXECUTE CONSENTS TO THE ASSIGNEMENTS OF A
PARKING SPACE LICENSE AGREEMENT AND COMPROMISE AND
SETTLEMENT AGREEMENT IN LIEU OF CONDEMNATION PERTAINING
TO TWO TRACTS OF PROPERTY LOCATED ON MAIN STREET BETWEEN
8TH STREET AND 9TH STREET.
WHEREAS, the City of Georgetown (the City), on October 11, 2016 authorized the
exchange of a tract of land located on Main Street between 8th Street and 91h Street for an
adjacent tract; and
WHEREAS, the City entered into a Compromise and Settlement Agreement in Lieu of
Condemnation (the "Compromise Agreement") and Parking Space License Agreement (the
"Parking Agreement") with the adjacent landowner, 3834 Management, L.L.C., to
effectuate the exchange; and,
WHEREAS, both parties are preparing for the imminent completion of the
exchange; and
WHEREAS, to facilitate the exchange and clarify title to the properties, 3834
Management, L.L.C. has transferred its interests in and to its Main Street property and
agreements to 815 Main Street, L.L.C.; and
WHEREAS, the City has received a request to consent to (1) the Assignment of Agreement
and Assumption of the Compromise Agreement, attached hereto as Exhibit "A", and (2) the
Assignment of Agreement and Assumption of the Parking Agreement, attached hereto as Exhibit
"B"; and,
WHEREAS, the City's consent is necessary to execute both assignments and move
towards completion of the exchange;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, THAT:
SECTION 1. The facts and recitations contained in the preamble of this resolution are
hereby found and declared to be true and correct, and are incorporated by reference herein and
expressly made a part hereof, as if copied verbatim.
Resolution No. 0-7 a S 1-�- S
Description: Assignme t of. greesnents, 815 N. Main
Date Approved: )L S I
Page 1 of 2
SECTION 2. The Mayor is hereby authorized to execute (1) the Assignment of
Agreement and Assumption of the Compromise Agreement, attached hereto as Exhibit "A", and
(2) the Assignment of Agreement and Assumption of the Parking Agreement, attached hereto as
Exhibit 'B";
SECTION 3. This resolution shall be effective immediately upon adoption.
RESOLVED this �5 day ofsU -L"( , 2017.
CITY OF GEORGETOWN
Dale Ross, Mayor
APPROVED AS TO FORM:
Charlie McNabb, City Attorney
ATTEST:
I ��& - 4�QJLn
Shelley Nowl' ),City Secretary
Resolution No.
Description: Assignment of Agreements, 815 N. Main
Date Approved: I I 2�5 q
Page 2 of 2
ASSIGNMENT OF AGREEMENT AND ASSUMPTION
THIS ASSIGNMENT OF AGREEMENT AND ASSUMPTION ("Assignment") is made
and entered into as of the date of execution below (the "Effective Date") by and between 3834
Partners, Ltd., a Texas limited partnership ("Assignor"), and 815 Main Street, L.L.C., a Texas
limited liability company ("Assignee"), and the contract being assigned is that certain Compromise
and Settlement Agreement in Lieu of Condemnation (the "Agreement"), between Assignor and
the City of Georgetown, Texas (the "Lity"), regarding the real property and improvements located
in Georgetown, Williamson County, Texas as more particularly described in the Agreement
("Property"), which Assignor agrees to assign and Assignee agrees to assume in exchange for the
good and valuable consideration provided by the other herein.
NOW THEREFORE, Assignor, Assignee, and the City agree, in exchange for the good
and valuable consideration provided by the others herein, to the following:
Assignor hereby assigns the Agreement between Assignor and the City to Assignee, who hereby
accepts the assignment and assumes all of Assignor's rights and obligations as set forth therein
from and after the Effective Date.
(SIGNATURES ON THE FOLLOWING PAGE(
EXECUTED in multiple copies with separate signature pages to facilitate closing on this the
_day of 92017.
ASSIGNOR:
3834 Partners, Ltd., a Texas limited partnership
By: 3834 Management, L.L.C., a Texas limited
liability company, its general partner
am
Patrick Watkins, Its Manager
ASSIGNEE:
815 Main Street, L.L.C., a Texas limited liability
company
Patrick Watkins, Manager
The City is executing this assignment merely as an acknowledgment of and consent to the
assignment.
CITY:
CITY OF GEORGETOWN, TEXAS
A Home Rule Municipal Corporation
By:
DALE ROSS, Mayor
APPROVED Tq FORM:
By: �
r ie McNabb, City Attorney
ASSIGNMENT OF AGREEMENT AND ASSUMPTION
THIS ASSIGNMENT OF AGREEMENT AND ASSUMPTION ("Assignment") is made
and entered into as of the date of execution below (the "Effective Date") by and between 3834
Partners, Ltd., a Texas limited partnership ("Assignor"), and 815 Main Street, L.L.C., a Texas
limited liability company ("Assignee"), and the contract being assigned is that certain Parking
Space License Agreement (the "Agreement"), between Assignor and the City of Georgetown,
Texas (the "LLty"), regarding the real property and improvements located in Georgetown,
Williamson County, Texas as more particularly described in the Agreement ("Property'), which
Assignor agrees to assign and Assignee agrees to assume in exchange for the good and valuable
consideration provided by the other herein.
NOW THEREFORE, Assignor, Assignee, and the City agree, in exchange for the good
and valuable consideration provided by the others herein, to the following:
Assignor hereby assigns the Agreement between Assignor and the City to Assignee, who hereby
accepts the assignment and assumes all of Assignor's rights and obligations as set forth therein
from and after the Effective Date.
ISIGNA TURES ON THE FOLLOWING PAGEI
EXECUTED in multiple copies with separate signature pages to facilitate closing on this the
_day of .2017.
ASSIGNOR:
3834 Partners, Ltd., a Texas limited partnership
By: 3834 Management, L.L.C., a Texas limited
liability company, its general partner
By:
Patrick Watkins, Its Manager
ASSIGNEE:
815 Main Street, L.L.C., a Texas limited liability
company
Patrick Watkins, Manager
The City is executing this assignment merely as an acknowledgment of and consent to the
assignment.
CITY:
CITY OF GEORGETOWN, TEXAS
A Home Rule M icip rporation
By:
DALE R ayor
APPROVED 0 TO FORM:
00,
By:
Z4--Z� 5;�
Charlie Mc abb, City ttorney
Watkins Ins.
July 17, 2017 1:564
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City of Georgetown Systems Engineering
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