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EXHIBIT B <br />[FORM OF RESTRICTIVE COVENANT AGREEMENT] <br />RESTRICTIVE COVENANT AGREEMENT <br />THIS RESTRICTIVE COVENANT AGREEMENT (this "Agreement") is made and <br />entered into as of the day of , 2021, by and between <br />, (the "Owner"), and the City of San Marcos, Texas (the "City"). <br />RECITALS: <br />A. Owner is the owner of a tract of land totaling approximately 9.66 acres situated in <br />Hays County, Texas, more particularly described in Exhibit "A", attached hereto (the <br />"Property"). <br />B. Owner and the City desire to subject the Property to the terms of this Declaration. <br />NOW, THEREFORE, in consideration of the sum of Ten and No/100 Dollars ($10.00), <br />and other good and valuable consideration, the receipt and sufficiency of which the parties hereby <br />acknowledge, the Owner and the City do hereby agree as follows: <br />1. Establishment of Maximum Building Height Restrictive Covenant. The Parties <br />hereto agree and acknowledge that the Property shall be held, sold, transferred, conveyed and <br />occupied subject to the restrictive covenant that no building on the Property shall be greater than <br />three stories in height. <br />2. No Consent Required. The Owner and the City each hereby represent and warrant <br />to the other that they have full requisite power and authority to enter into this Agreement without <br />the joinder or further consent of any other party, including without limitation that of any lender, <br />lienholder or tenant, and that this Agreement will not be subordinate to any existing lien or other <br />monetary encumbrance. <br />3. Remedies. The City may pursue any remedies available at law or in equity to <br />enforce the provisions of this Agreement, including the recovery of reasonable attorney's fees and <br />court costs. <br />4. No Waiver. The failure of the City or Owner to avail itself of any of the <br />privileges, rights, covenants, agreements, terms and conditions of this Agreement for any <br />period of time or at any time shall not be construed or deemed to be a waiver thereof, and <br />nothing herein contained, nor anything done or omitted to be done by the City or Owner <br />pursuant hereto, shall be deemed a waiver by the other of any of its rights and remedies <br />hereunder or under the laws of the State of Texas. The enforcement of any right or remedy <br />hereunder by the City, either prior to, simultaneously with, or subsequent to any other action <br />taken hereunder, shall not be deemed an election of remedies. <br />5. Modification. This Agreement may not be modified or amended unless such <br />modification or amendment has been reduced to writing approved by the city council of the City <br />