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<br />WAIVER OF CONDITION RESPECTING r.Œ1MUNITY FACILITIES AGREEMENT <br /> <br />THE STATE OF TEXAS <br /> <br />COUNTY <br /> <br />OF <br /> <br />HAYS <br /> <br />§ <br />§ <br />§ <br /> <br />KNOW ALL MEN BY THESE i?RESENTS <br /> <br />THAT: <br /> <br />This Waiver of Condition Respecting Community Facilities <br />Agreement ("Waiver") is made and entered into as of the 2.L day of <br />January 198~ by and among the parties set forth on the <br />signature page attached hereto; <br /> <br />W'I T N E SSE T H <br /> <br />WHEREAS, on May 19, 1986, a Community Facilities Agreement <br />("Agreement") was made and entered into by and among the Ci ty of <br />San Marcos (the "Ci ty" ) , S B &: K Joint Venture, a Texas joint <br />venture ("S B &: K"), Joe K. Dobie and wife, Daisy Dobie, residents <br />of Hays County, Texas ("Dobie"), Ed Salinas &: John Rochford Joint <br />Venture, a Texas joint venture ("Salinas &: Rochford"), Rakor Inc., <br />a Texas corporation ("Rakor" ), Guy Shown Company (" Shown" ) and <br />Ri ver Ridge Joint Venture, a Texas general partnership ( "River <br />Ridge" ), the managing partner of which is Norwood Properties, a <br />Texas general partnership, between Jeffrey L. Minch and Frank P. <br />Krasovec; and <br /> <br />WHEREAS, Section 11. 04 of the Agreement provides that it <br />shall terminate if (ii) construction has not started by <br />December 31, 1986 unless four out of the six parties to such <br />Agreement elect in writing not to terminate the Agreement; <br /> <br />WHEREAS, it is unlikely that construction will commence prior <br />to December 31, 1986 and the parties set forth below desire to <br />evidence their agreement not to terminate the Agreement as <br />provided in Section 11.04 of the Agreement and, if all of the <br />parties set forth below so agree, such parties desire to amend the <br />Agreement to extend the deadline for commencement of such <br />construction; <br /> <br />NOW THEREFORE for and in consideration of Ten and No/100 <br />Dollars and other good and valuable consideration, the undersigned <br />parties do hereby agree (a) that the Agreement shall not terminate <br />b'ecause construction has not commenced and will not commence by <br />December 31, 1986, and (b) the Agreement is hereby ratified and <br />confirmed and is in full force and effect, notwi thstanding the <br />requirement that such construction commence on or before December <br />31, 1986 as set forth in Section 11.04, such requirement being <br />hereby waived by the undersigned parties to the Agreement. <br /> <br />If, but only if all of the parties set forth below execute an <br />original or counterpart original of this Waiver, the December 31, <br />1986 date for commencement of construction set forth in clause <br /> <br />30/3496/2 <br />