Res 2025-212 Approving an agreement to mutually terinate an amended and restated cotton center development agreement.

Home Browse Search

MUTUAL TERMINATION OF CONSENT AGREEMENT This Mutual Termination of Consent Agreement (this "Agreement") is entered into by and between the City of San Marcos, Texas ("City"); Walton Texas LP, a Texas limited partnership ("Walton Texas"), in its capacity as the Primary Owner, as a property owner and in its capacity as operator authorized to enter into and sign this Agreement on behalf of the Individual Owners; Walton TX Martindale LP, an Alberta limited partnership ("Walton TX Martindale"); Walton TX Martindale LP 2, an Alberta limited partnership ("Walton TX Martindale 2"). Collectively, Walton Texas, the Individual Owners, Walton TX Martindale and Walton TX Martindale 2 are referred to herein as "Walton." The City and Walton collectively are referred to herein as "Parties." Cotton Center Municipal Utility District No. 1 is also entering into this Agreement as a party to the Consent Agreement. Capitalized terms used but not defined herein shall have the meanings ascribed thereto in the Consent Agreement. I. RECITALS 1.1. The City, Walton, Cotton Center Municipal Utility District No. 1 and the other parties thereto entered into that certain Consent Agreement, 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"). The Consent Agreement originally related to approximately 2,358 acres of land in Caldwell County east of the City. 1.2. Walton has since requested to terminate the Consent Agreement. 1.3. To resolve all matters related to termination of the Consent Agreement and other matters described therein, the Parties entered into that certain Settlement Agreement approved by the City of San Marcos on September 16, 2025 pursuant to which the Parties have agreed to terminate the Consent Agreement. 1.4. For these reasons, the Parties wish to enter into this Agreement for purposes of terminating the Consent Agreement. H. AGREEMENT 2.1. In consideration of the foregoing and other mutual benefits and obligations of the Parties, the Parties agree to, and by this Agreement, mutually terminate the Consent Agreement and such agreement shall, as of the Effective Date stated below, be null and void and of no further force or effect. 2.2. The termination of the Consent Agreement will be effective as of the date of the last signature to this Agreement (the "Effective Date"). 2.3. Within 15 days after the Effective Date, the Parties shall record this Agreement in the Official Public Records of Caldwell County Texas.