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<br />MEMORANDUM OF AGREEMENT <br /> <br />November 8, 2007 <br /> <br />County: Hays <br />Highway No., FM 3407 (Wonder World Drive) <br />From: RR 12 To: FM 2439 <br /> <br />ROW CSJ No.: 3379-01-010 <br />District, Austin <br />Parcel No.: 12 <br /> <br />ML Eric Myers and George Myers <br />c/o Eric Myers <br />4009 C Hunter Road <br />San Marcos, Texas 78666 <br /> <br />Dear Mr Myers: <br /> <br />This Memorandum of Agreement (the "Agreement") is made effective as of this 4th day of <br />December, 2007, by and between Eric and George Myers ("Myers") and the City of San Marcos, <br />Texas (the "City"). <br /> <br />WHEREAS, pursuant to this agreement Myers agrees to sell, and the City agrees to <br />purchase for the sum of$201,000.00, 5.0347 acres, more or less, ofland located in Hays County, <br />Texas, more particularly described in Exhibit A and Exhibit B. <br /> <br />NOW THEREFOR, for good and valuable consideration the adequacy of which is <br />acknowledged the City of San Marcos and Myers have agreed to the following terms and <br />conditions: <br /> <br />I. Until closing on this sale, which wili occur on or before December 31, 2007, at <br />Fidelity National Title Insurance Company, 901 South Mopac, Building 4, Smte <br />150, Austin, Texas 78746, title and possession of the property to be conveyed <br />remains with Myers, Myers shall bear all risk ofloss to any and all such property <br />prior to such payment, <br /> <br />2. This Agreement constitutes the entire agreement between the City and Myers <br />save and except any benefits which may accrue under the State's Relocation <br />Assistance Program and the mutual benefits to be derived by Myers and the City <br />of San Marcos from the signing of this agreement. <br /> <br />3 The City of San Marcos will bear the expense of title insurance and any costs <br />associated with recording the instruments conveying title to the City of San <br />Marcos. <br /> <br />4. The City will coordinate with Texas State University to formally recognize the <br />contnbur:on of artifacts from site 41 HY 163 to Texas State University and to <br />insure that the families of Mr. Eric Myers and Mr. George Myers arc <br />acknowledged in the final published report and the web page or any other fonnal <br />publications by the Center for Archaeological Studies. <br /> <br />S. The City shall connect the Myer's water system to the City water system. The <br />City shall assume all costs for this work including construction, permits. tap fees, <br />and impact fee costs. The City will extend a water line to the Myers property. <br />At the property, the City (or its subcontractor) will install a 2" (min) domestic <br /> <br />MYERS MEMORANDUM OF AGREEMENT P 1 of 3 <br />