Res 2017-119/third addendum to the Chapter 380 Economic Development Incentive Agreement with Humpty Dumpty SSM, Ltd. in connection with the redevelopment of Springtown Shopping Center, which amends the agreement by providing waivers of certain exterior bu

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THIRD ADDENDUM TO CHAPTER 380 ECONOMIC DEVELOPMENT INCENTIVE AGREEMENT THE STATE OF TEXAS § COUNTY OF HAYS § This Third Addendum to Chapter 380 Economic Development Incentive Agreement (this "Addendum") is entered into as of August 1, 2017 (the "Effective Date") between the between the City of San Marcos, Texas (the "City"), a Texas municipal corporation, and Humpty Dumpty SSM, Ltd., a Texas limited partnership (the "Owner"). RECITALS A. City and Owner entered into a Chapter 380 Economic Development Incentive Agreement dated effective as of July 21, 2015 ("Original 380 Agreement") related to the redevelopment of the Springtown Shopping Center bounded by IH -35 North, Thorpe Lane, and Springtown Way (the "Site") within the full purpose limits of the City. B. City and Owner subsequently executed that certain (i) Addendum to Chapter 380 Economic Development Incentive Agreement, acknowledged by the City on November 22, 2016, and (ii) Second Addendum to Chapter 380 Economic Development Incentive Agreement acknowledged by the City on December 29, 2016 (the Original 380 Agreement, the Addendum and the Second Amendment are referred to herein collectively as the "380 Agreement"). C. City and Owner desire to further amend and supplement the 380 Agreement as further set forth in this Addendum. AGREEMENT Therefore, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 1. Recitals Incorporated. The foregoing recitals are incorporated herein and made a part of this Addendum for all purposes. 2. Effect of Addendum. City and Owner agree that the provisions of the 380 Agreement, as supplemented by this Addendum, will apply to the entire Site. In the event of any conflict between the 380 Agreement and this Addendum, the terms of this Addendum will control. It is understood and agreed that upon the mutual execution and delivery of this Addendum, the provisions hereof shall be incorporated into and made part of the 380 Agreement. City and Owner further ratify and confirm that the 380 Agreement, as modified by this Addendum, is in full force and effect.