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AMENDMENT NUMBER ONE TO MEMORANDUM OF UNDERSTANDING <br /> RELATED TO THHE DEVELOPMENT OF THE KILO DEVELOPMENT AREA <br /> PURSUANT TO A REQUEST FOR PROPOSALS BETWEEN DON JACKSON <br /> CONSTRUCTION, INC AND THE CITY OF SAN MARCOS <br /> STATE OF TEXAS § <br /> COUNTIES OF HAYS AND CALDWELL § <br /> WHEREAS, Don Jackson Construction, Inc. ("DJC") entered into a "Memorandum of <br /> Understanding Related to the Development of the Kilo Development Area Pursuant to a Request <br /> for Proposals"by and between the City of San Marcos, Texas, a home-rule municipal corporation <br /> located at 630 East Hopkins Street, San Marcos, TX 78666 ("City") dated April 10, 2023. The <br /> Memorandum of Understanding was approved by Resolution 2023-70R of the City Council of the <br /> City of San Marcos, Texas (which instrument is referred to herein as the "MOU"); and <br /> WHEREAS,DJC has requested that the MOU be amended to extend the length of the term; <br /> and <br /> WHEREAS, City is agreeable to such amendment of the MOU; <br /> In consideration of the covenants contained in this amendment, the City and DJC agree to <br /> amend the MOU as follows: <br /> 1) SECTION 3: FEASIBILITY PERIOD <br /> 1.01 Section 3 of the MOU is hereby AMENDED to read as follows: <br /> "From and after the Effective Date, DJC shall have two hundred and seventy (270) days <br /> following the Effective Date ("Feasibility Period") to evaluate the economic feasibility of <br /> the Project. If, prior to the expiration of the Feasibility Period or any extension thereafter, <br /> and after DJC's due diligence,Developer determines that market conditions are not suitable <br /> for DJC's intended use of the built-to-suit hangars and construction of said hangars in the <br /> 1,,'-DA (the "Project"), DJC may terminate this Agreement by written notice to City, <br /> whereupon this Agreement shall become null and void and of no further force or effect, <br /> and the parties hereto shall have no further obligations to one another. Developer's due <br /> diligence shall include,but is not limited to, frequent public meetings regarding the Project <br /> and advertisement of the Project. The City, at its sole discretion, may elect to extend the <br /> feasibility period in 30-day increments upon written request by DJC." <br /> 1 <br />