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0 <br /> <br />THE STATE OF TEXAS § <br />COUNTY OF CALDWELL § <br />?91 <br />RECEIVE <br />OPTION AGREEMENT CCT2, d 1981. <br />KNOW ALL MEN BY THESE PRESENTS: <br />1 <br />THIS AGREEMENT IS MADE AND ENTERED INTO on the,&:?ar day of 1981, by and between <br />THOMAS R. HOLT and VERNA OWEN HOLT, of Gillespie County, <br />Texas, hereinafter called Optionor, and the CITY OF SAN <br />MARCOS, a municipal corporation, located in flays County, <br />Texas, hereinafter called Optionee. <br />In consideration of the sum of THREE THOUSAND AND <br />N01100 DOLLARS ($3,000.00) this day paid to Optionor by <br />Optionee, the receipt of which is hereby acknowledged by <br />1 <br />Optionor upon the execution of this agreement, Optionor <br />hereby grants to Optionee, its successors or assigns, the <br />exclusive right to conduct, over a sixty (60) day period <br />beginning this day, a preliminary investigation in and on <br />real property in Caldwell County, Texas, in order that <br />Optionee may determine the marketability of the property and <br />the suitability of such property for use by. Optionee as a <br />solid waste disposal site, said real property being describe& <br />as follows: <br /> 103 acres of land, more or less, out of the Hector <br /> McNeil League, Caldwell County, Texas, as contracted to <br /> be conveyed to Optionor by assignment of Contract of <br /> Sale and Purchase recorded in Volume 302, Page 53, <br /> Caldwell County Deed Records. <br /> Said $3,000.00 payment to Optionor shall be returned <br /> by Optionor to Optionee only in the event that it is determined <br /> during said 60 day period, that said real property cannot be <br /> conveyed free of all liens and encumbrances except for the <br />r <br />mineral reservation expressly provided for in this agreement; <br /> otherwise ownership of said $3,000.00 shall become absolute <br /> in Option.or immediately upon the expiration of said 60 day <br /> period. Within forty-five (45) days from date hereof, <br />Optionor shall deliver an Owner's Title Policy Commitment <br />reflecting the condition of title to said 103 acre site in <br />•• ' ? " ? .w..x`'Z!+ ..Hf'. T?fi..? .s .-... ? «roawr- ..we.ur ml{.@??tH4e .,.FtsY+aG[ ,..Yr +e ,. ... 'df17x.