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PROJECTED LAND USES <br /> Approximate <br /> Parcels Acreage Proposed Land Use <br /> 1 -2 281 Business Park <br /> 3 10 Commercial <br /> 4 - 5 22 Commercial <br /> 6 153 Commercial <br /> 7 106 SF Residential- Detached/Townhomes <br /> 8 111 Master Retail and Commercial Center <br /> Rights of Way 23 Rights of Way <br /> Totals 706 <br /> DEFINITIONS <br /> 1. "City" shall mean the City of San Marcos, Texas <br /> 2. "Developer" shall mean McDonald Development Group and/or its successors and assigns <br /> 3. "Project" shall consist of the approximately 706 acres as described in Exhibit A and <br /> illustrated in Exhibit B <br /> 4. "Improvements" shall refer to the construction projects to be funded by the Public <br /> Improvement District ("PID") <br /> Definitions shall be effective in every instance regardless of capitalization. <br /> PROPOSED PROJECT TIMETABLE <br /> 1. Engineering and Design of the Improvements shall commence within 90 days from <br /> February 1, 2016. <br /> 2. Engineering and Design of the Improvements shall be submitted to the City for review by <br /> June 15, 2016. [The original date of April 2015 was extended to June 2016 by the first <br /> amendment to the Term Sheet approved by the city council in 2015] <br /> 3. The Improvements shall be constructed by September 1, 2018, subject to force majeure. <br /> 4. Construction of a 50,000 square foot speculative commercial building, in accordance with <br /> the minimum specifications below, shall commence within 100 days of City acceptance of <br /> the Improvements. <br />