Res 2016-150/approving the Landowner Agreement and Notice of Special Assessments Agreement with Highpointe Trace, LLC for the Trace Public Improvement District (PID).

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"Commercial Parcel" means a Parcel located within the PID which has been designated at the time of the adoption of the initial Assessment Roll and approval of this SAP for the future development of commercial uses such as, but not limited to, office buildings and retail shopping centers. In accordance with the PDD, Parcels identified as Planning Areas 3,9, 10 and 11 are designated as Commercial Parcels. "County" means Hays County, Texas. "Delinquency Reserve" has the meaning set forth in Section IV.I of this SAP. "Delinquent Collection Costs" means interest, penalties and expenses incurred or imposed with respect to any delinquent Special Assessment, or an Annual Installment thereof, in accordance with the PID Act which includes the costs related to pursuing collection of such delinquent Special Assessment, or an Annual Installment thereof, and the costs related to foreclosing the lien against the Assessed Property, including attorney's fees. "Indenture" means the applicable Indenture of Trust between the City and a trustee relating to the issuance of a series of PID Bonds for financing costs of Public Improvements, as it may be amended from time to time. "Landowner" means Highpointe Trace, LLC, a California limited liability corporation, or other entity affiliated with Highpointe Communities, Inc. "Lot" means (i) for any portion of the Property for which a subdivision plat has been recorded in the official public records of the County, a tract of land described as a "lot" in such subdivision plat, and (ii) for any portion of the Property for which a subdivision plat has not been recorded in the official public records of the County, a tract of land anticipated to be described as a "lot" in a final recorded subdivision plat. "Lot Type" means a classification of final building Lots with similar characteristics (e.g. commercial, light industrial, multifamily residential, single family residential, etc.), as determined by the Administrator and confirmed by the City Council. In the case of single family residential Lots, the Lot Type shall be further defined by classifying the residential Lots based on the front footage of the Lot, as determined by the Administrator and confirmed by the City Council. "Major Improvement Public Improvement Assessed Property" means, for any year, all Parcels within the District other than Non -Benefited Property and listed in the Assessment Roll against which Special Assessments relating to the Authorized Improvements are levied. "Major Public Improvement PID Bonds" means those certain City of San Marcos, Texas Special Assessment Revenue Bonds, Series [20—] (Trace Public Improvement District Major Public Improvement Project) that will be secured by Special Assessments levied on an Assessed Parcel in order to fund the Major Public Improvements. 5