Res 2015-064/Economic Development Incentive Agreement with San Marcos 123 and 35 Partners Two, L.L.C., that waives certain sign standards under the City’s Land Development Code in order to allow a freestanding pole sign within the San Marcos River corrid

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b. Freddy's Restaurant. The Owner shall develop a portion of the Site for commercial occupancy by a restaurant advertised and marketed to the public as " Freddy's Frozen Custard and Steakburger" ( "Freddy's ") substantially similar in design to that shown in Exhibit B, attached hereto and made a part hereof for all purposes. The building associated with Freddy's may include a single drive- through component. C. Dine -In Only Restaurant. The Owner shall develop the remaining portion of the Site for commercial occupancy by a dine -in only restaurant with no drive - through component as approved by the City Manager of the City. Examples of restaurants that would be eligible to occupy this portion of the Site are Longhorn Steakhouse, Old Chicago Pizza and Taproom, 54th Street Bar and Grill, Sea Island Shrimphouse and Olive Garden. Examples of restaurants that would not qualify to occupy the Site include traditional quick service or fast food restaurants such as McDonalds, Burger King, KFC, Taco Bell, or Jack in the Box, even if the facilities for such types of restaurants do not include a drive- through component. Section 2.02. Sign Installation. When the Owner executes a binding lease for occupancy on the Site by Freddy's and a building permit is issued for construction of facilities for Freddy's, the Owner shall be eligible to receive a permit from the City for installation of an on- premise freestanding pole sign along the boundary of the Site that fronts the IH -35 frontage road in accordance with the specifications shown in Exhibit C, attached hereto and made a part hereof for all purposes (the "Pole Sign "). The Pole Sign may advertise Freddy's in either sign face labeled "A" or `B," while the other sign face may advertise the dine -in restaurant on the other portion of the Site approved by the City Manager of the City. Section 2.03. Sign Location. Except as specifically waived by the City under Part 3 of this Agreement, the installation of the Pole Sign shall comply with the requirements of all City of San Marcos processes, approvals, procedures, ordinances, rules, regulations and standards governing the installation of signs. To the extent that there is no conflict with the provisions of Section 6.3.1.7, the Pole Sign shall be located no more than 150 feet from the property line fronting Luciano Flores Boulevard. The approximate location of the Pole Sign is shown on Exhibit A. Section 2.04. Compliance with Laws. In connection with the development of the Site, the Owner shall comply with all applicable local, state and federal laws, ordinances, statutes, rules, regulations and standards. PART 3. ECONOMIC DEVELOPMENT INCENTIVE PROVIDED BY THE CITY Section 3.01. Waiver of Certain Land Development Code Requirements. Subject to the Owner's compliance with this Agreement, the City waives the requirement that no on- premise sign shall be located within the San Marcos River Corridor except for monument signs, community information signs and government signs under Section 6.3.3.3(a)(9) in order to allow the Pole Sign. The Owner acknowledges and agrees that the Pole Sign is a substitute for one monument sign that would normally be allowed under the LDC and that the Owner is not 2.