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paid by Developer and received by the City in the manner provided in this Agreement below. <br />Section 2.04. "Land" means the tract of real property and improvements thereon within <br />the city limits of the City of San Marcos, Texas located at 1551 Clovis Barker Road, San Marcos, <br />Texas 78666 upon which the Building Improvements will be constructed. A map, plat or survey <br />of the Land is attached as Exhibit "B" and made apart hereof for all purposes. <br />Section 2.05. "Real Property Taxes" in any given year during the Term of this Agreement <br />are the City's share of the ad valorem taxes on the Land attributable solely to the Building <br />Improvements received from the Tax Office in excess of the Base Tax Year Value, <br />Section 2.06. "Tax Office" means the Hays County Tax Assessor -Collector. <br />Section 2.07. The "Term" of this Agreement shall commence on the Effective Date and <br />continue until the date that the third Grant Payment is due and finally paid, or such earlier date of <br />termination as provided under this Agreement. <br />ARTICLE III <br />DEVELOPER'S OBLIGATIONS <br />Section 3.01. Construction of Building Improvements. Developer shall begin <br />construction of the Building Improvements on or before January 4, 2020, subject to any extensions <br />due to events of force m.ajeure. For purposes of this Agreement the date of beginning of <br />construction shall be the date on which a building permit for one or more of the three spec buildings <br />comprising the Building Improvements is issued by the City. Developer shall complete <br />construction of the Building Improvements no later than October 31, 2021, subject to any <br />extensions approved by the City Manager of the City, or his designee, due to events of force <br />inajeure. For purposes of this Agreement, the date of completion of construction shall be the date <br />on which a final certificate of occupancy for the last of the three spec buildings comprising the <br />Building Improvements is issued by the City. Neither a conditional, nor a temporary certificate of <br />