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PROJECTED LAND USES <br />Parcels <br />Approximate <br />Acreage <br />Proposed Land Use <br />1-2 <br />281 <br />Business Park <br />3 <br />10 <br />Commercial <br />4 - 5 <br />22 <br />Commercial <br />6 <br />153 <br />Commercial <br />7 <br />106 <br />SF Residential - Detached/Townhomes <br />8 <br />111 <br />Master Retail and Commercial Center <br />Rights of Way <br />23 <br />Rights of Way <br />Totals <br />706 <br />DEFINITIONS <br />1. "City" shall mean the City of San Marcos, Texas <br />2. "Developer" shall mean McDonald Development Group and/or its successors and assigns <br />3. "Project" shall consist of the approximately 706 acres as described in Exhibit A and <br />illustrated in Exhibit B <br />4. "Improvements" shall refer to the construction projects to be funded by the Public <br />Improvement District ("PID") <br />Definitions shall be effective in every instance regardless of capitalization. <br />PROPOSED PROJECT TIMETABLE <br />1. Engineering and Design of the Improvements shall commence within 90 days from <br />February 1, 2016. <br />2. Engineering and Design of the Improvements shall be submitted to the City for review by <br />June 15, 2016. <br />3. The Improvements shall be constructed by May 31, 2019, subject to force majeure. <br />4. Construction of a 50,000 square foot speculative commercial building, in accordance with <br />the minimum specifications below, shall commence within 100 days of City acceptance of <br />the Improvements. <br />