It appears there might be a misunderstanding regarding the provided document. The text you've included is an "Assignment and Assumption Agreement" dated December 14, 1999, involving the City of Austin and two private entities (KFP Littlefield, L.P. and Merit Littlefield L.P.) concerning a land license agreement from 1982.
This is not an Austin City Council agenda from February 23, 1968. Therefore, I cannot summarize a 1968 City Council agenda using the provided 1999 contract document. If you have the correct 1968 agenda transcript, please provide it, and I will be happy to summarize it for you.
Full Transcript
CONTRACTS AND AGREEMENTS SCAN PREP FORM Contract #: 653-8205 Title (entire name of first contractor listed on the contract, or the "Licensee"): Merit Littlefield L. P. Document Date: 12/14/99 Contract Type (Heading at top of contract): Contract License Agreement Covenant running with the land Other: Assignment and Assumption Agreement Record type: CONTRACT Volume of Part of Prepared by (initials) RL Date 5/30/2000 TRV 1999157751 4 pgs 653-8205 ASSIGNMENT AND ASSUMPTION AGREEMENT WHEREAS, the City of Austin ("City") and the predecessor in interest to KFP LITTLEFIELD, L.P. (the "Seller") entered into a certain City of Austin License Agreement dated September 20, 1982, recorded in Volume 7860, Page 467 of the Real Property Records of Travis County, Texas, and affecting the real property therein described ("Agreement"); and WHEREAS, the Seller has entered into an agreement to sell the above-referenced property to MERIT LITTLEFIELD/L.P. (the "Purchaser"), and has requested the City of Austin to consent to the assignment of its interest in the Agreement to the purchase; and WHEREAS, the Purchaser wishes to assume the obligations of the Seller under the Agreement; NOW, THEREFORE, in consideration of Ten and No/100 Dollars, the Benefit to be derived herefrom by the parties hereto, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and in order to induce the City to consent to the assignment, the parties agree as follows: 1. Seller hereby assigns all of its rights and interests as licensee in and to the License Agreement to the Purchaser. 2. The Purchaser hereby assumes and agrees to perform in accordance with their terms, all of the obligations of Licensee under the Agreement. EXECUTED TO BE EFFECTIVE as of the 14 day of December, 1999. SELLER: KFP LITTLEFIELD, L.P. By: KFP GP Littlefield/Inc., General Partner Name: Jaffer Khimji Title: Vice President 545 E. John Carpenter Freeway, Suite 1400 Irving, Texas 75062 1 丬 PURCHASER: MERIT LITTLEFIELD L.P. By: Merit Littlefield GPLLC CONSENTED AND AGREED TO: CITY OF AUSTIN Name: David R. ROELKE Title: Fo By: Name: Title: HARRY O'Neal e MANAGER, Real Estate Services Department of Public Works and Transportation APPROVED AS TO FORM: By: Pat lehmet Assistant City Attorney THE STATE OF TEXAS COUNTY OF Dallas Vice President Key This instrument was acknowledged before me on this the 7 day of December, 1999, the secretaru of KFP Littlefield GP, Inc., by Dafter Khimg. the General Partner of KFP Littlefield, L.P., a Texas limited partnership, on behalf of such entity. & hullott Arel Notary Public, State of Texas KAREN E. PHILLPOTT MY COMMISSION EXPIRES March 20, 2002 2 THE STATE OF TEXAS COUNTY OF DALLAS KIM L. LAWRENCE MY COMMISSION EXPIRES OCTOBER 28, 2002 This instrument was acknowledged before me on this the 6th day of December, 1999, by David R. Roelke the CFO of Merit Littlefield GP, LLC, the General Partner of Merit Littlefield L.P., a Texas limited partnership, on behalf of such entity. 1 Thm. Kame THE STATE OF TEXAS COUNTY OF DRAVID Notary Public, State of Texas まし This instrument was acknowledged before me on this the the day of December, 1999, bylarry O'Neal, Manga, ex Kault Department of Public the City of Austin, Texas, a municipal corporation, on behalf of said corporation. Works and Transportation of Chri Notary Public, State of Texas STATE OF TEX CHRIS ALONZO MURAIDA MY COMMISSION EXPIRES November 17, 2001 THE STATE OF TEXAS COUNTY OF TRAVIS This instrument was acknowledged before me on this the 14th day of December, 1999, by Larry O'Neal, Manager, Real Estate Services, Department of Public Works and Transportation of the City of Austin, Texas, a municipal corporation, on behalf of said corporation. Cirnis Alonzo. Muracalar Notary Public, State of Texas CHRIS ALONZO-MURAIDA MY COMMISSION EXPIRES November 17, 2001 3 AFTER RECORDING RETURN TO: City of Austin Dept. of Public Works & Transportation Real Estate Services Division P.O. Box 1088 Austin, TX 78767-8839 Attn: Mary Reza F#6053-8205 FILED AND RECORDED OFFICIAL PUBLIC RECORDS De Bain 12-20-1999 03:09 PM 1999157751 OJEDAB $15.00 DANA DEBEAUVOIR,COUNTY CLERK TRAVIS COUNTY, TEXAS RECEIVED JAN 04 ZUU00 BY: