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AGREEMENT FOR PUBLIC IMPROVEMENT DISTRICT <br />FORMATION AND ADMINISTRATION SERVICES <br />This Agreement for Public Improvement District Formation and Administration Services <br />("Agreement") is entered into this 2nd day of October 2017 by and between <br />PIDWorks, LLC ("PIDWorks") and the City of San Marcos, Texas ("City"). <br />RECITALS <br />WHEREAS, Whisper Master Community Limited Partnership, a Texas limited partnership <br />and Yarrington Partners, Ltd., a Texas limited partnership (collectively the "Developer') <br />intend to develop approximately 706 acres of land in the City as a mixed use <br />development; and <br />WHEREAS, the City authorized the formation of the Whisper Public Improvement District <br />(the "District") on October 6, 2014, pursuant to a City Resolution in accordance with <br />Chapter 372 of the Local Government Code; and <br />WHEREAS, the City requires specialized services related to the Service and Assessment <br />Plan ("Service and Assessment Plan"), bond issuance, and the administration of the <br />District, as more fully set forth in this Agreement; and <br />WHEREAS, PIDWorks has the expertise to properly establish and administer the District <br />and ensure compliance with Texas Local Government Code Chapter 372; and <br />WHEREAS, the City desires to retain PIDWorks to provide District formation and <br />administration services; <br />NOW THEREFORE, in consideration of the mutual promises and covenants contained in <br />this Agreement, and for good and valuable consideration, PIDWorks and the City agree <br />as follows: <br />ARTICLE I <br />TERM OF AGREEMENT <br />1.0 The Agreement shall be effective as of its approval by all parties, and shall be for <br />a period of three (3) years and shall automatically continue on a year to year basis until <br />terminated pursuant to Article V of this Agreement. <br />ARTICLE 11 <br />