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Section 7.01 Notice. Any notice given under this Agreement shall be in writing and may be <br />given: (i) by deposit in the United States mail, certified, return receipt requested, postage prepaid, <br />addressed to the Party to be notified; (ii) by deposit with Federal Express or another nationally <br />recognized courier service guaranteeing "next day delivery", with all charges prepaid, addressed <br />to the Party to be notified; or (iii) by personal delivery to the Party to be notified or any agent of <br />the Party. Notice deposited in the United States mail shall be effective from the earlier of the date <br />of receipt or three (3) days after the date of such deposit. Notice given in any other manner shall <br />be effective on the date delivered, if sent by personal delivery, or the day after deposit with a "next <br />day delivery" service. For the purposes of notice, the addresses of the Parties shall, until changed <br />as provided below, be as follows: <br />Owner: HK Baugh Ranch, LLC <br />24607 Fairway Springs <br />San Antonio, Texas 78260 <br />Attn: Paul Kuo, Manager <br />With a copy to: Allen Boone Humphries Robinson LLP <br />1108 Lavaca Street, Suite 510 <br />Austin, Texas 78701 <br />Attn: Mr. Ryan Harper <br />City: City of San Marcos <br />630 East Hopkins <br />San Marcos, Texas 78666 <br />Attn: City Manager <br />With a copy to: City Attorney, Legal Department <br />630 East Hopkins <br />San Marcos, Texas 78666 <br />The Parties may change their respective addresses from time to time by giving at least five (5) <br />days' written notice to the other Parties. Owner may, by giving at least five (5) days' written notice <br />to the City, designate additional parties to receive copies of notices under this Agreement. <br />Section 7.02 Severability. If any provision of this Agreement is illegal, invalid, or <br />unenforceable, under present or future laws, it is the intention of the Parties that the remainder of <br />this Agreement not be affected, and, in lieu of each illegal, invalid, or unenforceable provision, <br />that a provision be added to this Agreement which is legal, valid, and enforceable and is similar in <br />terms to the illegal, invalid or unenforceable provision as is possible. <br />Section 7.03 Waiver. Any failure by a Party to insist upon strict performance by another Party <br />of any material provision of this Agreement shall not be deemed a waiver thereof or of any other <br />provision, and such Party may at any time thereafter insist upon strict performance of any and all <br />of the provisions of this Agreement. <br />960913_4 <br />