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TAX ABATEMENT AGREEMENT BETWEEN THE CITY OF SAN MARCOS AND <br />CLOVIS BARKER BUSINESS PARK, L.P. FOR DEVELOPMENT OF A <br />DISTRIBUTION/WAREHOUSE FACILITY <br />Y~. <br />This tax abatement agreement (this "Agreement") is entered into effective the ~O day of <br />February, 2008 between the City of San Marcos, Texas (the "City"), a Texas municipal corporation, <br />and Clovis Barker Business Park, L.P., formerly known as BDI San Marcos Property L.P. <br />("Owner"). <br />PART 1. GENERAL PROVISIONS <br />Section 1.01. This Agreement is authorized and governed by the Property Redevelopment <br />and Tax Abatement Act (Chapter 312 of the Texas Tax Code), and by the City's Economic <br />Development Incentives Policy (the "Policy"). <br />Section 1.02. BDI owns a 30.32 acre tract of land in the J.M. Veramendi League Survey No. <br />1, Abstract No. 17, and the C. Wickson Survey, Abstract No. 474, City of San Marcos, Hays <br />County, Texas more particularly described by metes & bounds in the attached Exhibit "A". (The <br />"Property."). The Property meets the eligibility criteria for tax abatement under the Policy. The <br />Property is situated within the City of San Marcos Reinvestment Zone No. 23 designated by separate <br />ordinance by the City Council. <br />Section 1.03. The Property is not part of an improvement project financed with tax <br />increment bonds. <br />Section 1.04. This Agreement is subject to the rights of the holders of outstanding bonds of <br />the City. <br />Section 1.05. The Property is not owned or leased by any member of the San Marcos City <br />Council or any member of the City Planning and Zoning Commission. <br />Section 1.06. Owner agrees to ensure that all of the construction described below will <br />conform to all applicable City ordinances and regulations, including but not limited to the City's <br />Master Plan, and Chapter 5-Buildings and Building Regulations, Chapter 74-Streets and Sidewalks, <br />and Chapter 86, Utilities, of the San Marcos City Code, and Chapters 1 through 8 of the City's Land <br />Development Code. <br />PART 2. PROPERTY IMPROVEMENTS <br />Section 2.01. Owner shall construct a building of 64,260 square feet and a second building <br />