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 with the County the documents required to be filed in Tex. Water Code§ 13.257(r)as well as proof of such filing with the Texas PUC. 2.05 Walton will not be responsible for any attorney's fees incurred by the City in effectuating this Settlement or incurred from Texas PUC Docket No. 56371. 2.06 The City will work in good faith with Walton to effectuate the purpose of this Agreement and will execute any documents and file any documents needed to effectuate the purpose of this Agreement. III. JOINT OBLIGATIONS 3.01 The Parties agrees to delay PUC Docket No. 56371 until the City considers the Partial Release as described in Section 2.01 above. IV. SETTLEMENT 4.01 Settlement of Claims. The parties recognize and acknowledge that the funds specified herein are paid to settle claims and work amicably together. They are not to be relied upon as setting any precedent for the valuation of decertification. 4.02 The City accepts the compensation set-forth herein as full, final, and adequate compensation for decertification of the property in PUC Docket No. 56371. The Payment Amount constitutes payment for both the Partial Release and the compensation in PUC Docket No. 56371. 4.03 Partial Termination of Development Agreement Obligations. The Parties agree that upon the Approval Date the rights and obligations under that certain 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"), are hereby terminated as to the Property, and neither the City nor Walton have any further rights or obligations thereunder with respect to the Property. Not in limitation of the generality of Section 5.02 below, the Parties agree to execute, together with any required third parties, and deliver such recordable document(s) as may be necessary to memorialize the termination of the Development Agreement as to the Property and remove same from title to the Property. 4.04 Partial Termination of Consent Agreement Obligations. The Parties agree that upon the Approval Date the rights and obligations under 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"), are hereby terminated as to the Property, and neither the City nor Walton have any further rights or obligations thereunder with respect to the Property. Not in limitation of the generality of Section 5.02 below, the Parties agree to execute,together with any required third parties, and deliver such recordable document(s) as may be necessary to memorialize the termination of the Consent Agreement as to the Property and remove same from title to the Property. Page 3 of 6