Res 2024-195 approving a settlement agreement with Walton Texas, LP and David Tuckfield for release of land from Cotton Center Development Agreement and MUD Consent Agreement

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Settlement Agreement the City's attorney prior to filing. The City will not be responsible for the attorney's fees incurred by Walton. 1.04 Walton will work in good faith with the City to effectuate the purpose of this Agreement and will execute any documents and file any documents needed to effectuate the purpose of this Agreement. II. THE CITY'S OBLIGATIONS 2.01 Upon execution of this Agreement,the City shall take all appropriate steps and with all due speed utilizing the City processes to consider whether the Cotton Center Development Agreement between the City and Walton,effective as of December 20, 2016 and recorded as Document No. 2023-002100 in the Official Public Records of Caldwell County,Texas, as amended(the"Development Agreement"),should be terminated as to the Property,and whether the City nor Walton have any further rights or obligations thereunder with respect to the Property. In conjunction with consideration of the partial release of the Development Agreement,the City will likewise take all appropriate steps and with all due speed utilizing the City processes to consider whether that certain Consent Agreement between the City and Walton,effective December 11,2014 and recorded as Document No.2014-006144 in the Official Public Records of Caldwell County, Texas, as amended (the "Consent Agreement"), should be terminated as to the Property. The partial releases of the Development Agreement and the Consent Agreement shall be herein collectively referred to as the "Partial Release." The City staff shall support said Partial Release to the San Marcos City Council. Provided that the San Marcos City Council approves of the Partial Release, the date of such action shall be called the "Approval Date" herein. If the San Marcos City Councils denies or does not approve the Partial Release within 90 days hereof, said action shall be herein called the"Denial Action." 2.02 Within 5 business days of the Approval Date, the City will file with the Texas PUC a pleading stating that it has reached an agreement with Walton,that it no longer opposes the decertification,that the parties have reached an agreement on compensation in PUC Docket No.56371 in the amount of$15,000,and that it does not seek any additional compensation in PUC Docket No. 56371. 2.03 The City will cooperate in filing a Joint Motion for Informal Disposition (pursuant to 16 Tex. Admin. Code § 22.35(a)), requesting that the requested area be decertified, and requesting that the PUC issue an order regarding compensation, and acknowledging that such compensation has already been paid. To the extent that the PUC may require additional filings, the City will cooperate in such filings to effectuate the purposes of the Agreement. 2.04 After the filing specified in Section 2.02 and 2.03 above, although Walton will have the primary responsibility for drafting additional documents needed for filing with the PUC, the City will have its attorneys cooperate in the review of such documents and, where appropriate, to cooperate in filing such documents as joint filings. Upon issuance of the final Order from the PUC, if required by that Order,the City will require its attorney to file Page 2 of 6