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FOURTH ADDENDUM TO CHAPTER 380 ECONOMIC <br />DEVELOPMENT INCENTIVE AGREEMENT <br />This Fourth Addendum to Chapter 380 Economic Development Incentive Agreement (this <br />"Fourth Addendum") is entered into between the the City of San Marcos, Texas (the "City"), a <br />Texas municipal corporation, and Humpty Dumpty SSM, Ltd. a Texas limited partnership (the <br />"Owner"). The Owner and the City are, collectively, referred to as the "Parties." <br />RECITALS <br />A. City and Owner entered into a Chapter 380 Economic Development Incentive <br />Agreement dated effective as of July 21, 2015 ("Original 380 Agreement") related to the <br />redevelopment of the Springtown Shopping Center bounded by IH -35 North, Thorpe Lane, and <br />Springtown Way within the full purpose limits of the City. <br />B. City and Owner subsequently executed that certain: (i) Addendum to Chapter 380 <br />Economic Development Incentive Agreement, acknowledged by the City on November 22, 2016, <br />(ii) Second Addendum to Chapter 380 Economic Development Incentive Agreement <br />acknowledged by the City on December 29, 2016; and (iii) Third Addendum to Chapter 380 <br />Economic Development Incentive Agreement, acknowledged by the City on August 3, 2017 (the <br />Original 380 Agreement, the Addendum, the Second Addendum and the Third Addendum are <br />referred to herein, collectively, as the "380 Agreement"). <br />C. In response to impacts from the 2020 COVID-19 pandemic, the Parties want to <br />Amend the Chapter 380 Agreement to address such impacts by restructuring the schedule <br />concerning the application for and payment of Grant Payments under the 380 Agreement. <br />AGREEMENT <br />Based on the foregoing and for good and valuable consideration, the receipt and sufficiency <br />of which are acknowledged, the Parties agree as follows: <br />1. Recitals Incorporated. The foregoing recitals are incorporated herein and made a <br />part of this Fourth Addendum for all purposes. <br />2. Effect of Addendum. The Parties agree that the provisions of the 380 Agreement <br />will continue in full force and effect, except as specifically amended by this Fourth Addendum. <br />In the event of any conflict between the 380 Agreement and this Fourth Addendum, the terms of <br />this Fourth Addendum will control. <br />3. Grant Payment Schedule Modified. Section 4.02 of the 380 Agreement is hereby <br />amended to read as follows: <br />Beginning as soon as the calendar year 24�6 2022, but not later than calendar year <br />2424 2022, the Owner may apply for up to ten (10) consecutive annual Grant <br />