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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(v) any right to object to the legality of the Assessment Ordinance, Service and Assessment Plan, Assessment Roll, or Special Assessments or to any proceedings connected therewith. ARTICLE III TEXAS PROPERTY CODE SECTION 5.014 NOTICE The following notice is applicable if your property is "residential real property" as defined in Section 5.014 of the Texas Property Code: NOTICE OF OBLIGATION TO PAY PUBLIC IMPROVEMENT DISTRICT ASSESSMENT TO THE CITY OF SAN MARCOS, HAYS COUNTY, TEXAS, CONCERNING ASSESSED PARCELS. As the purchaser of a parcel of residential real property located in a public improvement district, you are obligated to pay a Special Assessment for improvement projects undertaken by the District under Chapter 372, Local Government Code which Special Assessment will be collected by the City or the City's designee. Information about the Special Assessment (such as its due date or how it is paid) may be obtained by contacting the City. The Assessment against your parcel may be paid in full at any time together with interest through the date of payment. If you do not elect to pay the Assessment in full, it will be due and payable in annual payments, including interest and collection costs. Your failure to pay the Special Assessment or any annual payment could result in a lien on and the foreclosure of your Parcel. ARTICLE IV DEDICATION OF PUBLIC IMPROVEMENTS Landowner acknowledges that the Public Improvements, together with the land, easements, or other rights-of-way needed for the Public Improvements, shall be dedicated to the City or the Owner's Association as provided in the PID Finance Agreement. Landowner will execute such conveyances and/or dedications as may be reasonably required to evidence the same. ARTICLE V MISCELLANEOUS A. Notices. Any notice or other communication (a "Notice") required or contemplated by this Agreement shall be given at the addresses set forth below. Notices as to one or more Assessed Parcels shall only be given to the Landowner that owns the applicable Assessed Parcels. Notices as to all of the Land shall be given to all Landowners. Notices shall be in writing and shall be deemed given: (i) five business days after being deposited in the United States Mail, Registered or Certified Mail, Return Receipt Requested; or (ii) when delivered by a nationally recognized private delivery service (e.g., FedEx or UPS) with evidence of delivery signed by any person at the delivery address. Each Party may change its address by written notice to the other Parties in accordance with this section. Landowner Agreement (Trace PID) Q Final