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AMENDED AND RESTATED <br /> TRACE PUBLIC IMPROVEMENT DISTRICT <br /> FINANCING AGREEMENT <br /> This Amended and Restated Trace Public Improvement District Financing Agreement <br /> (this "Agreement"), dated as of September 18, 2018, (the "Effective Date"), is entered into <br /> between Highpointe Trace, LLC, a California limited liability company(including its Designated <br /> Successors and Assigns, the "Owner"), Pacesetter Homes, LLC, a Texas limited liability <br /> company (including its Designated Successors and Assigns, "Pacesetter"), Buffington Texas <br /> Classic Homes, LLC, a Texas limited liability company(including its Designated Successors and <br /> Assigns, "Buffington"), and the City of San Marcos, Texas (the "City"), acting by and through <br /> its duly authorized representative. Buffington and Pacesetter are sometimes collectively <br /> referenced in this Agreement as the "Consenting Parties" and the Owner and the City are <br /> sometimes collectively referenced in this Agreement as the "Parties," or, each individually, as <br /> the"Party." <br /> Recitals: <br /> WHEREAS, Owner and the Consenting Parties own a total of approximately 417.63 <br /> acres of land located within the City which is more particularly described in Exhibit "B" <br /> attached hereto and made a part hereof(the"Property"). <br /> WHEREAS, it is intended that the Property will be developed as a mixed use <br /> development(the"Project"); <br /> WHEREAS, the City Council authorized the formation of the Trace Public Improvement <br /> District (the `District") on October 20, 2015, pursuant to Resolution No. 2015-145R in <br /> accordance with the PID Act(as defined in Exhibit"A"); <br /> WHEREAS, the City and Owner have entered into the Trace Public Improvement District <br /> Financing Agreement,dated October 20,2015 (the"Original Financing Agreement"); <br /> WHEREAS,the City and Owner have entered into the Trace Public Improvement District <br /> Reimbursement Agreement, dated October 18, 2016 (the "Original Reimbursement <br /> Agreement"); <br /> WHEREAS, the City has adopted Assessment Ordinance No. 2016-42 on October 18, <br /> 2016, adopting a service and assessment plan (the "Original Service and Assessment Plan"), <br /> levying the Initial Special Assessments in the amount of $11,175,000.00 on the Property (the <br /> "Original Assessment Ordinance"); <br /> WHEREAS,the 2018 Amended and Restated Service and Assessment Plan was approved <br /> by the City on August 7, 2018, amends and replaces the Original Service and Assessment Plan <br /> (as amended or updated from time to time the "2018 SAP"); <br /> 2 <br />