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DocuSign Envelope ID:368C77B5-64BE-48A2-ABF6-2F308743222B i <br /> REAL ESTATE SALES CONTRACT <br /> i <br /> This contract to buy and sell real property is between Seller and Buyer as identified below <br /> and is effective on the date ("Effective Date") of the last of the signatures by Seller and Buyer as j <br /> parties to this contract and by Title Company to acknowledge receipt of the Earnest Money. Buyer <br /> must deliver the Earnest Money to Title Company and obtain Title Company's signature before <br /> the Earnest Money Deadline provided in section A.1. for this contract to be effective. <br /> Seller: 111 MLK Development, LLC, a Texas limited liability company <br /> Address: 16925 Whispering Breeze Drive, Austin, Texas 78738 <br /> Phone: (210) 394-7070 <br /> E-mail: matt@kenyoncompanies.com <br /> Seller's Broker: Stephen Schneider-Kenyon Companies <br /> Address: 4826 E Cezar Chavez Street,Austin,TX 78702 <br /> I <br /> Phone: (512) 567-3825 <br /> E-mail: stephen@kenyoncompanies.com <br /> Buyer: City of San Marcos <br /> Address: 630 East Hopkins Street, San Marcos,TX 78666 <br /> Phone: (512) 393-8137 <br /> E-mail: clime@sanmarcostx.gov <br /> Buyer's Broker: N/A E <br /> Property: An approximately 1.03-acre tract of land located at 111 East Martin Luther King <br /> Drive, San Marcos, Hays County, Texas 78666, as further described in Exhibit A, <br /> together with all improvements to the Land ("Improvements") and any leases <br /> associated with the Land and Improvements ("Leases"). <br /> Title Company: Veritas Title Company;Michael Knudsen, 4200 Westheimer Road, Suite 150, <br /> Houston,Texas, 77027. (713)482-2801 <br /> E <br /> Purchase Price: $4,500,000.00 <br /> Earnest Money: $49,900.00. Notwithstanding anything herein to the contrary,$25,000.00 of the <br /> Earnest Money shall be non-refundable to Buyer upon the earlier of(i)30 days after the Effective <br /> Date or(ii) Buyer's receipt of a Phase I environmental report suggesting no further action on the <br /> Property. Thereafter, any refund of Earnest Money thereafter, shall only include that portion of <br />