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City Council Meeting Minutes June 19,2018 <br /> who will participate in this group. Some Council Members expressed their <br /> support in reaching out to the co-working space group and non-profit <br /> organizations. <br /> EXECUTIVE SESSION <br /> 2. Executive Session item in accordance with Section §551.071 of the Texas Local <br /> Government Code, Consultation With Attorney, to seek advice of legal counsel <br /> regarding: <br /> A) Resolution 2018-95R, a subordination agreement with Goldman Sachs Mortgage <br /> Company and JPMorgan Chase Bank that subordinates the City's Deed of Trust lien <br /> against the Embassy Suites Hotel Property securing a note in the principal amount of <br /> $1,500,000 to the lien of such entities securing their loan to JDHQ Hotels, LLC. (a <br /> subsidiary of Atrium Hospitality) for the purchase of the hotel from JQH-San Marcos <br /> Development(a subsidiary of John Q. Hammons Hotels and Resorts)and <br /> B) Resolution 2018-96R, a loan assignment and assumption agreement between the <br /> City, JQH-San Marcos Development, LLC. (a subsidiary of John Q. Hammons Hotels and <br /> Resorts) and JDHQ Hotels LLC. (a subsidiary of Atrium Hospitality) that assigns the <br /> duties and obligations of JQH Development LLC under various loan documents with the <br /> City related to the development of the Embassy Suites Hotel and Conference Center to <br /> JDQH Hotels, LLC. in connection with the sale of the hotel from JQH-San Marcos <br /> Development, LLC to JDQH Hotels LLC. <br /> Mayor Thomaides adjourned into executive session at 4:45 p.m. <br /> IV. Adjournment. <br /> The City Council reconvened into Open Session at 6:00 p.m. Mayor <br /> Thomaides then adjourned the Work Session meeting of the San Marcos City <br /> Council at 6:00 p.m. <br /> Jamie ee Case, TRCM, City Clerk John Thomaides, Mayor <br /> City of San Marcos Page <br />