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RESTATED AGREEMENT BETWEEN THE CITY OF SAN MARCOS AND <br />THE SAN MARCOS AREA CHAMBER OF COMMERCE, INC. FOR ECONOMIC <br />DEVELOPMENT AND SMALL BUSINESS ECONOMIC DEVELOPMENT SERVICES <br />This Restated Agreement Between the City of San Marcos and the San Marcos Area <br />Chamber of Commerce, Inc. for Economic Development and Small Business Economic <br />Development Services (the "Agreement") is dated and effective October 1, 2009, and is between <br />the City of San Marcos, Texas, a Texas municipal corporation (the "City") and the San Marcos <br />Area Chamber of Commerce, Inc. (the "Chamber") <br />RECITALS: <br />1. In 2007 the City and the Chamber entered into an Agreement for Economic <br />Development and Small Business Economic Development Services effective as of October 1, <br />2007 (the "Original Agreement"). <br />2. The Original Agreement provided for a two year term expiring on September 30, <br />2009 subject to the right of the City to terminate the Agreement sooner for reasons stated in the <br />Agreement. <br />3. In 2008, the City agreed to continue the Original Agreement provided certain terms <br />were amended and the parties executed an amendment to the Original Agreement effective <br />October 1, 2008. <br />4. The Original Agreement further provided for up to three one year extensions upon <br />mutual agreement of the parties after the expiration of the initial term. <br />5. The parties seek to contract with each other subject to the mutually agreed amended <br />terms and conditions in this Agreement which shall supersede the Original Agreement. In <br />consideration of the foregoing and other good and valuable consideration, the parties hereby <br />agree as set forth below. <br />AGREEMENT: <br />SECTION 1. OBLIGATIONS OF THE CHAMBER <br />A. Provision of Professional Services; Mission; Goals. The Chamber agrees to provide <br />professional economic development services for the City. The Chamber agrees to provide <br />necessary skilled and knowledgeable personnel, equipment, and supplies for the administration <br />and operation of the economic development services provided under this Agreement, in <br />Page 1 of 8