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MEMORANDUM OF AGREEMENT <br /> THE STATE OF TEXAS § <br /> § <br /> HAYS AND CALDWELL COUNTIES § <br /> THIS MEMORANDUM OF AGREEMENT is executed for the purpose of evidencing, of record, the <br /> existence of that certain Cotton Center Development Agreement dated effective as of DegAef.M 2016 <br /> (the"Agreement"), by and among the City of San Marcos,Texas,a Texas home rule city(the"City")and <br /> Walton Texas, LP, a Texas limited partnership (herein referenced as "Walton"). Walton is an owner of <br /> that certain real property located in Caldwell County, Texas, as described on Exhibit A("Cotton Center"). <br /> The Agreement provides for, among other things, certain restrictions and commitments imposed and made <br /> in connection with the development of Cotton Center. In addition, the Agreement establishes, defines, <br /> protects and clarifies, among other things, certain development rights, entitlements, land uses, intensity, <br /> and other physical aspects of Cotton Center. <br /> NOTICE TO BUYERS: ANNEXATION OF ALL OR A PORTION OF COTTON CENTER BY THE <br /> CITY IS CONTEMPLATED. BY ACCEPTING A DEED TO ALL OR A PORTION OF COTTON <br /> CENTER, EACH FUTURE OWNER OF PROPERTY WITHIN COTTON CENTER GRANTS ITS <br /> CONSENT TO SUCH ANNEXATION. <br /> The rights, obligations and benefits established pursuant to the Agreement shall run with the land <br /> comprising Cotton Center and shall be binding upon all future owners of property in Cotton Center. This <br /> instrument is executed solely for the purpose of(i)recording notice of the Agreement in the Official Public <br /> Records of Caldwell County,Texas,(ii)providing notice to future owners of property in Cotton Center that <br /> land uses and development intensities are flexible and may change within Cotton Center without notice, <br /> and (iii) providing notice to future owners of property in Cotton Center that annexation of all or a portion <br /> of Cotton Center by the City is contemplated and that by accepting a deed to property in Cotton Center they <br /> are consenting to such annexation. This instrument does not alter, amend or modify the Agreement. A <br /> copy of the Agreement may be obtained from either Walton or the City. <br /> CITY: CITY OF SANCOS, a Texas home rule city <br /> iii'By: )ik-Nik /� <br /> Printed Name: ,A )it Pi C/ci.i/ <br /> Title: As_d I �tt (4ltG <br /> Date: ))')t)- G <br />