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2017-11-08 First Amendment To Setlement Agreement - Cause No. 219-1855-2015 - ARCH Resorts LLC V City of McKinney V Collin County - 17-8832
2017-11-08 First Amendment To Setlement Agreement - Cause No. 219-1855-2015 - ARCH Resorts LLC V City of McKinney V Collin County - 17-8832
Consolidated with Cause No. 199- 02143- 215, Arch Resorts, LLC v. The City ofMcKinney,
Texas, by Order entered on July 15, 2015)
V.
Defendant, Counter-Plaintiff,
and Third-Party Plaintiff,
Defendant,
V.
Third-Party Defendant
This First Amendment to Settlement Agreement (" Amendment") is entered into among
Arch Resorts, LLC(" Arch"), and the City of McKinney, Texas(" Ci " ( both of which are parties
in the above- styled litigation), and NJV Investors, LLC(" NJV" ( which is not a parry to the above-
styled litigation, but which is a business affiliate of Arch and a property owner impacted by the
terms of this Amendment).
I.
RECITALS
1. The City, Arch and NJV ( the " Parties") have entered into a Settlement Agreement
Agreement"), which was executed by Arch and NJV on October 10, 2017, and executed by the
City on October 18, 2017.
3. Given the imposition of the statutory deadlines for the City to accomplish the
potential rezoning of the Arch Property and the NJV Property to the PD Zoning, the November
27, 2017, deadline established in the Agreement is insufficient and the Parties desire to amend the
Agreement to extend that deadline.
H.
FIRST AMENDMENT
NOW, THEREFORE, for and in consideration of the mutual covenants of the Parties set
forth in this Amendment, and for good and valuable consideration the receipt and adequacy of
which are acknowledged and agreed, the Parties agree as follows:
1. The last sentences of Part II(C) and Part IV(A) of the Agreement that provide,
respectively, as follows:
Moreover, in the event that the PD Zoning is not approved and made effective by
November 27, 2017, this Agreement shall automatically terminate.
Should the PD Zoning ( described in Part II(C), above) not be approved and made
effective by November 27, 2017, such nonattainment shall render this Agreement
null and void and without further action by any Party.
Moreover, in the event that the PD Zoning is not approved and made effective by
December 31, 2017, this Agreement shall automatically terminate unless such PD
Zoning deadline is expressly extended by written agreement of the City, Arch, and
NJV. The City Manager is expressly delegated authority by the City of McKinney
City Council to extend the PD Zoning deadline without further action of the City
Council.
2. Except as modified by this Amendment, the terms and conditions ofthe Agreement
shall remain in force and effect, and all other provisions of the Agreement shall remain unaltered,
unchanged and in full force and effect.
ARCHRESORT, LLC,
a Texas limited liability company
By:
Subbarayan Venkatesan, Manager
Date: ( 0 31-
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t
By:
andhini Venkatesan,Manager
Date: 10 [ sit ?O r T
STATE OF TEXAS
COUNTY OF Ca 11, E
STATE OF TEXAS
COUNTY OF G A L,
BY:
Subbarayan Venkatesan, Manager
Date:
1
By:
Nandhini Venkatesan, Manag
Date: 3
STATE OF TEXAS
COUNTY OF C o I r-'
SEAL]
JOSHUA DREIS- ORNEI. AS
Notary ID# 131056480
My Commission Expires Public, State
pan
March 23, 2027
Notary x
STATE OF
COUNTY OF Co fi'
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SEAL]
Date:
STATE OF TEXAS
COUNTY OF COLLIN
SEAL]