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“City”means the City of San Marcos, Texas. <br />“City Council”means the City Council of City of San Marcos, Texas. <br />“County”means Hays County, Texas. <br />“Creation Date”means the date, October 20, 2015, the City Council approved Resolution No. <br />2015-145R which authorized the creation of the PID. <br />“Delinquent Collection Costs”means interest, penalties and expenses incurred or imposed <br />with respect to any delinquent Assessment, or an Annual Installment thereof, in accordance <br />with the PID Act which includes the costs related to pursuing collection of such delinquent <br />Assessment, or an Annual Installment thereof, and the costs related to foreclosing the lien <br />against the Assessed Property, including attorney’s fees. <br />“Elementary School Site”meansthat approximately 12 acres will be dedicated as an <br />elementary school site to the Hays Conolidated Independent School District as shown on <br />AppendixC. <br />“Fire Station Agreement”meansthatcertain agreement enteredinto between the City and <br />the Landowner on November 2, 2015. <br />“Indenture”means the applicable Indenture of Trust between the City and a trustee relating <br />to the issuance of a series of PID Bondsfor financing costs of Public Improvements, as it may <br />be amended from time to time. <br />“Initial PID Bonds”meansthose certain “City of San Marcos, Texas Special Assessment <br />Revenue Bonds, Series 2018(TracePublic Improvement District)” that are secured by <br />Assessments levied on Assessed Property. <br />“Initial Assessment(s)”means the$11,175,000 of Assessment, of which $11,075,000 <br />remains outstanding,levied on all Assessed Property within the PID upon the adoption of <br />the Assessment Ordinance 2016-42 dated October 18, 2016andlevied in accordance with <br />Sections 372.019 and 372.020 of the PID Act. <br />“Landowner(s)”means Highpointe Trace, LLC, a California limited liability corporation, or <br />other entity affiliated with Highpointe Communities, Inc., Buffington Classic Texas Homes <br />LLC, and Pacesetter Homes LLC. <br />“Lot”means (i) for any portion of the Property for which a subdivision plat has been <br />recorded in the official public records of the County, a tract of land described as a “lot” in <br />such subdivision plat, and (ii) for any portion of the Property for which a subdivision plat <br />has not been recorded in the official public records of the County, a tract of land anticipated <br />to be described as a “lot” in a final recorded subdivision plat. <br />4 <br /> <br />