Res 2023-204R approving an agreement with ARA Properties II, a Texas General Partnership, for the city to purchase a 0.069 acre utility easement in the vicinity of the intersection of State Highway 123 and De Zavala Drive

Home Browse Search

DocuSign Envelope ID:FABC5243-4BC3-46F5-B3BA-D208D288F901 Project: SH 123 De Zavala Intersection Improvements Parcel: 00003.0002 & 00003.0003 LETTER AGREEMENT This Letter Agreement (the "Agreement") is made by and between ARA Properties II, a Texas General Partnership,PO Box 4099,Austin,Texas 78765-4099, and the City of San Marcos, Texas ("City"), 630 East Hopkins Street, San Marcos, Texas 78666 to be effective as of the date executed by both parties below(the "Effective Date"). I. Recitals 1. ,The City requires a 0.069-acre (2,990 square foot and a 0.097-acre (4,219 square foot) area for a COSM Public Water Utility Easement owned by Grantor in connection with the SH 123 De Zavala Intersection Improvements Project. 2. Grantor has agreed to Grant COSM Public Water Utility Easements the City, subject to the terms of this Agreement and adherence to the terms contained in the Easement below. II. Agreement 1. Together with this Agreement, Grantor has executed a COSM Public Water Utility Easement in favor of the City, which is attached hereto and made a part hereof for all purposes (the "Easement"). Subject to the terms stated therein, the Easement grants certain rights to the City across a portion of real property owned by Grantor, described in the Easement as the "Easement Area." In addition,the City has agreed to the following conditions. • The City will replace and or repair any section of asphalt, parking, curbs, and/or sidewalks taken down to construct or maintain the Easement. • If the City's contractor is unable to complete the work,the City will complete the project with City Employees and City Equipment. 2. As compensation to the Grantor for the Easement, the City agrees to pay Grantor the sum of $69,206.00 for a total 0.166-acre (7,209 square foot) COSM Public Water Utility Easement, within 90 days after the receipt of this Agreement and the Recorded Easement. The City will deliver this Agreement,the Easement and payment under this paragraph to the Grantor. 3. The City will pay for all expenses associated with the recording of the Deed. Capital Improvements Department•630 East Hopkins•San Marcos,Texas 78666.512/393-8130-FAX 512/396-3796