Res 2020-230/approving a Chapter 380 Economic Development Incentive Agreement with DBI San Marcos Property, L.P., providing incentives in the form of refunds of a percentage of real property taxes over three years for the development of approximately 174,

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deemed forfeited by the Developer and the City shall not be liable for later payment of such Grant Payments. Section 8.02. Developer's Option to Terminate. If the City fails to budget and appropriate funds for Grant Payments under this Agreement for reasons other than the Developer's non-compliance with this Agreement during any fiscal year of the City during the Term, the Developer, at its option, may terminate this Agreement by providing written notice thereof to the City. If the Developer elects to terminate the Agreement under this Section, the Developer and the City shall each be released of all further obligations under this Agreement, except that the City shall pay to the Developer any outstanding and unpaid Grant Payments properly due to the Developer prior to the date of termination for which the City has budgeted and appropriated funds during any previous fiscal year. Section 8.03. Remedies. Upon breach of any obligation or misrepresentation of facts under this Agreement, in addition to any other remedies expressly set forth in this Agreement with respect to such breach or misrepresentation, the aggrieved party shall have such remedies as are available in law or equity for breach of contract; provided, however, that no party shall be liable to any other party for incidental or consequential damages. Notwithstanding the foregoing, the City, in entering into this Agreement does not waive its immunity from suit or any other limitations on its liability, contractual or otherwise, as granted by the Texas Constitution or applicable laws of the State of Texas. If any Grant Payments are made by the City before the City determines that Developer has breached the terms of this Agreement or misrepresented any facts relied upon by the City, Developer acknowledges and agrees that among the remedies available to the City is the right to recover any sums paid to Developer and Developer agrees that, in such event, it shall be liable to the City for reimbursement of any such sums.