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7 SEP 2 5 All 1,1'-. 1 " <br />This agreement and Development Plan (this "agreement") is made and entered by and <br />between the City of San Marcos, Texas and the Property Owner(s). For the purposes of <br />this agreement, the term "Owner" will mean SMWWIP Limited, a Texas Limited <br />Partnership, represented by Robert W McDonald, III President of Texas Realty Retail <br />Partners, Inc., General Partner, and their respective successors and assigns; provided, <br />however, upon sale, transfer or conveyance of lots in the herein described property, the <br />duties and obligations of the Owner, as it relates to such transferred property, will be <br />assumed by the new owner, and the transferring Owner will have no further liability <br />regarding the transferred property. <br />Property Owner: SMWWIP Limited <br />and Master Robert W McDonald, III <br />Developer President <br />Texas Realty Retail Partners, Inc. <br />General Partner <br />2110 A Boca Raton #206 <br />Austin TX 78747 <br />512 280 5353 <br />512 280 3877 (fax) <br />Property: Lots 5A and 5B, resubdivision of Lot 5, Section 3, McKinley Place <br />Subdivision, San Marcos. For a total of 9.21 acres, as described in <br />exhibit 1. <br />1.0 General Description of the Project <br />The owners of Lot 5, Section 3, McKinley Place Subdivision, a 15.23 acre lot located <br />near the intersection of Sadler and Wonder World Drives in San Marcos, wish to develop <br />their property. The lot is part of a bigger project that has included the development of <br />Professional Office and multi family projects on the adjacent lots. <br />The concept for this lot as presently conceived envisions dividing the lot into three <br />parcels of roughly 5 acres each. The northernmost parcel, named 5A in this document, <br />will be a 4 story office building with underground parking. The building will be higher <br />than the adjacent Vista Office Plaza buildings to give it visibility because it will be built <br />on lower ground elevation. <br />The middle parcel, 5B, will be developed as a residential condominium. It will have two <br />four story buildings of 60 residences each with lower level covered parking garage plus <br />club house and other community facilities. <br />The southernmost lot, 5C, will accommodate a standard type of apartment project <br />development. This lot is not part of the PDD as it will be developed in conformance with <br />all the regulations pertinent to MF -24 zoning. <br />A schematic layout of the proposed development is attached. <br />2.0 Purpose and Intent <br />