Res 1985-005 - Laserfiche WebLink

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82 CORNERSTONE TRUST S'rATE OF TEXAS § § KNOW ALL PERSONS BY THESE PRESENTS THAT: COUNTY OF HAYS § WHEREAS, Indifree Investments, Inc. has heretofore purchased that certain real property in San Marcos, Hays County, Texas located on Guadalupe Street therein which is the same property as the "Old Fire House and City Hall" formerly utilized by the City of San Marcos; and, WHEREAS, upon vacating the said Old Fire House and City Hall the City of San Marcos removed therefrom the original cornerstone of said building¡ and, WHEREAS, Indifree Investments, Inc. desires to acquire said cornerstone to replace it in said building in the course of rehabilitating and remodeling said building; and, \vHEREAS, the City of San Marcos feels that the restoration of the cornerstone of said building is appropriate in conjunction with rehabilitation of said building and property, NOW, THEREFORE, it is hereby agreed by and between the parties, Indifree Investments as Trustee, and the City of San Marcos, as Trustor, as follows: 1. The City of San Marcos, Hays County, Texas, Trustor herein, hereby grants the original cornerstone removed from the Old Fire House and City Hall on Guadalupe Street to Indifree Investments, Inc., Trustee, herein, in trust for the City of San Marcos. 2. . The Trustee agrees to use the cornerstone only in its original place in the Old Fire House and City Hall as part of its restoration and rehabilitation of that building. The Trustee shall take such reasonable measures as necessary to maintain the cornerstone. The Trustee shall not be responsible for damage or destruction of the cornerstone arising from the acts of others, acts of God, or any damage to the cornerstone, except that due to the intentional or negligent acts of Trustee or its agents. It is understood between the parties that the cornerstone is to be included in the structure of the building and therefore is subject to injury from public nuisance as well as injury or destruction to the building. The Trustee shall not be responsible for damage arising from said causes. 3. If the Old Fire House and City Hall is destroyed but the cornerstone is still available, the cornerstone shall immediately become the property solely of the City of San Marcos and this trust agreement shall terminate. If the building is ever slated for demolition, the City shall remove the cornerstone prior to any demolition, the cornerstone shall become the property solely of the City, and this trust agreement shall terminate. Trustee shall give reasonable notice to the City of the building's destruction or impending demolition. In no case, however, will the building be demolished without the removal of the cornerstone.