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DEVELOPER PARTICIPATION AGREEMENT <br /> MCCARTY COMMONS 24-INCH WATERLINE <br /> This Developer Participation Agreement (the "Agreement") is effective as of August 21, <br /> 2018(the"Effective Date"),by and between the City of San Marcos,Texas,a home rule municipal <br /> corporation(the"City"),630 East Hopkins Street, San Marcos,Texas 78666 and SLF II-McCarty, <br /> L.P., a Texas limited partnership (the "Owner"), 5949 Sherry Lane, Suite 800, Dallas, Texas <br /> 75225. The City and the Owner may be referred to in this Agreement, individually, as a"Party," <br /> or collectively,as the"Parties." <br /> I. RECITALS <br /> 1.1 Section 212.071 of the Texas Local Government Code authorizes the City to cost <br /> participate with a developer of a subdivision or land to construct public improvements. <br /> 1.2 The Owner is constructing required public improvements in connection with the <br /> McCarty Commons development project, consisting of approximately 259 acres of land located at <br /> the intersection of McCarty Lane and IH-35 North in the City of San Marcos (the "McCarty <br /> Project"). <br /> 1.3 The City has approved a future capital improvement project to construct a 24-inch <br /> water line, a segment of which will run within the McCarty Project site. The location and general <br /> description of the waterline segment requested by the City to be constructed by the Owner are <br /> shown in Exhibit A,attached hereto and made a part hereof(the "Waterline Improvements"). <br /> 1.4 The Parties agree that it would be most efficient for the Owner to construct the <br /> Waterline Improvements concurrently with the Owner's installation of the public improvements <br /> related to the McCarty Project. <br /> 1.5 For the reasons stated above, and in consideration of the mutual obligations of and <br /> benefits to the Parties, the Parties wish to enter into this Agreement setting forth the terms and <br /> conditions under which the City will pay for and the Owner will construct the Waterline <br /> Improvements. <br /> II. AGREEMENT <br /> 2.1 Design,Bidding and Construction of Waterline Improvements <br /> 2.1.1 Design. The Waterline Improvements shall be constructed in accordance with the <br /> plans and specifications approved by the City and prepared by CP&Y, Inc. (the "Engineer") as <br /> directed by the City(the"Approved Plans"). All changes to the Approved Plans are subject to the <br /> written approval of the City's Director of Engineering and Capital Improvements. <br /> 2.1.2 Bidding. The Owner has solicited bids to construct the public improvements related <br /> to the McCarty Project and included the Waterline Improvements from a list of qualified <br /> contractors that have been mutually approved by the Owner and the City's Director of Engineering <br />