Res 2020-028/providing no objection to the submission of an application for low income housing tax credits to the Texas Department of Housing and Community Affairs for the proposed Lantana on Bastrop Multifamily Housing Project located at the intersectio

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failure continues for ten days after written notice of such default to the Partnership by the City, the City shall have the right to exercise any and all legal remedies available to it to obtain such payment. The Partnership agrees to pay the statutory amounts for penalties, interest, attorney's fees, and costs of collection applicable to suits to recover delinquent ad valorem taxes under Texas Tax Code Chapter 33 for failure to remit timely Payments to the City as a contractual obligation even though the Property will be exempt from local ad valorem taxation. 4. All Payments shall be made payable to the City of San Marcos and shall be sent to the Director of Finance, City of San Marcos, 630 East Hopkins Street, San Marcos, Texas 78666. 5. To the extent permitted by law, a holding by any court that any part or any provision in this Agreement is invalid, illegal or unenforceable in any respect shall not affect any other provision, and this Agreement shall be construed as if the invalid, illegal, or unenforceable provision had never been a part of the Agreement. 6. This Agreement may not be amended except in a writing specifically referring to this Agreement and signed by the parties hereto. Any right created under this Agreement may not be waived, except in a writing specifically referring to this Agreement and signed by the party waiving the right. Provided, however, termination of this Agreement shall not relieve the Partnership, or its successors, from any payments due to the City prior to such termination. 7. If for any reason the Partnership should fail to make the Payment in accordance with this Agreement, the parties agree that: (a) the Payment that would have been paid, plus; (b) the amount of any interest allowed by applicable laws on the Payment, plus; (c) the City's reasonable attorney's fees and costs of collection should any action be required in order to compel payment of all such amounts shall serve as liquidated damages from the Partnership to the City. Nothing in this Agreement shall be construed as creating a lien against the Property, nor shall the City be entitled to place a lien on the Property for any unpaid portion of the Payment. 8. Any notice provided or permitted to be given pursuant to this Agreement must be in writing and may be served by depositing same in the United States mail, addressed to the party to be notified, postage prepaid, certified mail, with return receipt requested, by fax (with confirmation of receipt), by personal delivery service or nationally recognized air courier service. For purposes of notice, the addresses of the parties shall be as set forth below: To the City: Director of Finance City of San Marcos 630 E. Hopkins St. San Marcos, Texas 78666 To the Partnership: Mission DG, Ltd. P.O. Box 830926 San Antonio, TX 78283 Attn: Mark Tolley 9. This Agreement shall be governed by the laws of the State of Texas. Venue for