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Res 2017-167/approving a Lease-Purchase Agreement with the Trust for Public Land providing for the City to lease with an option to purchase approximately 102 acres of land west of the City off of Derby Court, which agreement provides for payment by the C
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Res 2017-167/approving a Lease-Purchase Agreement with the Trust for Public Land providing for the City to lease with an option to purchase approximately 102 acres of land west of the City off of Derby Court, which agreement provides for payment by the C
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1/30/2019 8:16:44 AM
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11/20/2017 4:18:44 PM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
2017-167
Date
11/8/2017
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With a copy to: <br />Scott J. Parker, Texas State Director <br />4524 Frontier Trail <br />Austin, TX. 78745 <br />Tel: 415-269-4231 <br />Email: scott.parker@tpl.org <br />IF TO LESSEE — BUYER: <br />Sam Aguirre <br />Legal Department, City of San Marcos <br />630 East Hopkins Street <br />San Marcos, TX. 78666 <br />Tel: 512-393-8154 <br />Fax: 512-393-3983 <br />Email: saguirre@sanmarcostx.gov <br />41. APPLICABLE LAW: This Agreement shall be governed by and construed and enforced <br />in accordance with the laws of the State of Texas. <br />42. HEADINGS: The headings used in this Agreement are for convenience of reference only <br />and shall not operate or be construed to alter or affect the meaning of any of the provisions hereof. <br />43. CONDITIONS PRECEDENT TO LESSOR'S DUTIES TO PERFORM UNDER THIS <br />AGREEMENT: Lessor shall have no duty to perform under this Agreement unless and until each <br />of the following conditions precedent has been fulfilled: <br />(a) Lessor has acquired fee simple title to the Property; and <br />(b) Lessee has delivered to Lessor a certified copy of a resolution of Lessee authorizing <br />execution of the Agreement, together with the opinion of Lessee's counsel stating that the <br />Agreement has been authorized according to law, and when executed by both of the parties, shall <br />constitute an enforceable obligation of Lessee according to its terms. <br />(c) Lessee has agreed to accept the Survey and legal description provided by Lessor as <br />determinative of the boundary and acreage of the Property, and has agreed that it shall accept title <br />to the Property subject to the Survey, including any encroachments, easements, boundary claims, <br />or defects shown on the survey or visible on the ground upon reasonable inspection. <br />44. PRECONDITION TO LESSEE'S DUTY TO PERFORM: Lessee shall have no duty to <br />commence to perform any obligation hereunder until and unless Lessor shall have provided to <br />Lessee the report of a phase one environmental site assessment, carried out by a licensed <br />professional engineer or geologist, stating that further investigations are not recommended. <br />IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year <br />set forth below. <br />15 <br />
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