GRDER P.iO. ~417t3
RF'F'ROVAt_ OF FINRL PLAT OF
MOUNTAIN RIDGE ESTATES
Dn this day the 8th day of September, 1997 upon motion made by
Commissioner Baldwin, seconded by Commissioner Let z, tl-~e
Cour^t unanimously approved by a vote of 3-@-@, the Final Plat
of Mountain Ridge Estates and Letter of Agreement and Co~_rnty
J~_idge to sign.
STATE DF TEXAS
COUNTY OF KERB
LETTER DF AGREEMENT
KNOW ALL MEN RY THESE PRESENTS:
MGM INVESTMENTS, a Texas General Partnership, composed
o~F MICHAEL E. TUCY, and MARK F'ITTMAN, acting by c~znd through its
d~_rly authorized Managing Par^tr'ier, MICHAEL E. TUCK (hereinafter
called "M&M", and the COUNTY OF KERB, a political s~_iL-division
of the State of Texas (her^einafter called "KERB COUNTY"), have
made and entered into this Rgreeinent, in consideration 'For the
mutual exchanges of promises between the parties as
hereinafter described:
I.
PURPOSE OF DEPOSIT OF FUNDS
M&M, simultaneous with the signing of this doc~_rment,
shall deposit with KERB COUNTY a cashier's check in the s~_rm of
ONE THDUSAND SEVEN HUNDRED TNENTY-EIGHT AND NO/1@@ (f 1, 728.0@)
DOLLARS, made payable to the COUNTY OF KERB. KERB COUNTY will
hold the check and draw against the deposited check for all
repairs, expenses and costs related +,o the maintenance and
repair of Mountain Ridge Spur, a r^oad located in Mountain
Ridge estates, a s~_rhdivision filed of record in !Jol~_ime [., Page
337 of the F'r^operty Records of Ker^r County, Texas. The
deposit of the cashier's check shall be in a banl<ing
institution selected by KERB COUNTY. I~.ERR CDUNTY agrees to
p~_it the funds in in inter est bearing cacco~_rnt, with all
interest to be paid directly to MRM INVESTMENTS, who Taxpayer
I.D. f+lo. is 74-279E9'~5, at the termination of this Agreement.
I I.
TIMF_ PERIOD OF THE INVESTMENT
~~~~``""~~,, This Agr-~eement will be effective of September 8, 1997,
1.~ and shall contin~.re in effect for a period of one (1) year, at
which time the Agreement shall be terminated and all funds
(less any repair debits) hold by the KERB CDUhJTY, incl~_rding
interest accrued thereon, shall be paid to MRM.
F'RGE .'s67
III.
ENTIRE AGREEMENT
This Agreement constitutes the entire agreemer+t
between M8M and KERB COUNTY, and supercedes any pr~ior-
1
understanding or^ written or oral agreements between the
parties r^especting the within subject matter. It shall not 6e
amended, altered or changed, except by written agreement
signed by the parties hereto.
I V.
APPLICABLE LAW
This RgreeaAent shall 6e construed ~_+nder and in
accor-~dar~ce with the laws of the State of Texas, and all
obligations of the parties created here~_+nder are performable
in Kerr County, Texas.
V.
SEVERAPILITY
If any one or more of the provisions contained in
this Agreement far any reason shall he held to be invalid,
illegal or enforceable in any respect, such invalidity,
illegality or^ unenfvr°ceability shall not affect the other
provisions hereof, and this Agreement shall be constr-ued as if
s~_+ch invalid, illegal or^ unenforceable provision had never-
been contained herein.
VI.
BINDING AGREEMENT
This Agreement shall be 6in~3ir~g ~_+pvn and inure to tiie
benefit of +,he parties hereto, and their^ respective heirs,
legal representatives, successors and assigns.
Exer_t+ted this 3th day of yep+.emher, 194?.
M4M INVESTMENTS, A TEXAS
GENERRL F'ARTNERSNIP
RY:
/5/MICHAEL E. Tl1CK,
MANAGING PARTNER
PAGE 3GO
THE COUNTY OF KERR
2Y:
}
v
STATE OF TEXAS
COUNTY OF KERR +~
i S/TfiE HOfJORRBLE
ROBERT E. DENSOhJ
KERR COUNTY JUDGE
This instr~_rment was acknowledged before me on the 3th
day of September-, 1997 by MICHREL E. TUCK, Managing Partner
for M8M INVESTMENTS, a Texas General Partner^ship.
/s/ Thea Sovil
Notary Public, State of Texas
My Commission Expir^es:
Notary's Pr^inted Name
STATE OF TEXAS
COUNTY OF KERR
This instrument was acknowledged before me on the 8th
day of September-, 1997, by THE FiDhJORABLE ROBERT E. DENSOhI,
Kerr Co~.rnty J~_idge, for the COUNTY OF N.ERR.
/s/ Thea 3ovi1
Notary Public, State of Texas
My Commission Expires:
"Jotary's Printed Name
~~REF~RRED IPJ THE LRW OFFICE OF:
Robert J. Par^mley
2c^2 Sidney Raker South, Suite 615
Kerrville, Texas 7328
3
~'R~e 369