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Res 2021-123/ratifying a Developer Participation Agreement with SML Owner I, LLC for the City to participate in the cost of replacing a section of a water main in the vicinity of the Lofts I and II Apartments
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Res 2021-123/ratifying a Developer Participation Agreement with SML Owner I, LLC for the City to participate in the cost of replacing a section of a water main in the vicinity of the Lofts I and II Apartments
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7/28/2021 3:59:46 PM
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7/28/2021 3:51:58 PM
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Resolutions
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2021-123
Date
7/6/2021
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impact fees and/or pro rata fees), rules, regulations, and laws of all governmental agencies <br />having lawful jurisdiction over them. <br />2.4.3 Applicable Law and Venue. This Agreement shall be governed and <br />construed under and in accordance with the laws of the State of Texas. Jurisdiction and <br />venue for any matter arising out of this Agreement shall be in Hays County, Texas. <br />Jurisdiction and venue in federal court for matters arising out of this Agreement shall be in <br />the United States District Court for the Western District of Texas, Austin Division. <br />2.4.4 Severability. If any the provision of this Agreement is held to be invalid or <br />unenforceable by a court of proper jurisdiction, the holding will not affect any other <br />provisions of this Agreement if the Agreement can be given effect without the invalid <br />provision. The Parties will construe the Agreement as if the invalid or unenforceable <br />provision had not been contained in this Agreement. <br />2.4.5 Books and Records. All of the Developer's books and other records related <br />to the design, bidding and construction of the Improvements shall be available for <br />inspection by the City. <br />2.4.6 Subject to Approval. This Agreement and the City's payment obligations <br />hereunder are subject to approval of the San Marcos City Council. <br />EXECUTED to be effective as of the Effective Date first written above. <br />CITY: <br />Berl Digitally signed by Bert Lumbreras <br />DN: rn=Bert Lumbreras, -US, <br />-City at San M.—, .-City <br />Lumbreras emaagef5°ra mar <br />1=blumbreras@san cosLY.go� <br />Date: 2021.07.01 10:51:02 -05'00' <br />By: <br />Bert Lumbreras, City Manager <br />123138865.3 <br />DEVELOPER: <br />SML Owner I, LLC, a Delaware limited <br />liability company <br />By: SML I Manager, LLC, its manager <br />Name:/ . <br />Jared Schenk <br />Title: Manage► <br />Manager <br />
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