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• 4. Entire Agreement. This Agreement contains the entire agreement between the parties. <br />Prior to the conveyance of the Property from Owner to Developer, this Agreement may only be <br />amended, altered or revoked by written instrument signed by the City, Owner and Developer. <br />Subsequent to the conveyance of the Property from Owner to Developer, this Agreement may <br />only be amended, altered or revoked by written instrument signed by the City and Developer. <br />5. Binding Effect. This Agreement shall be binding on and inure to the benefit of the <br />parties, their respective successors and assigns. <br />6. Assignment. Except as provided, Developer may assign all or part of its rights and <br />obligations to a third party without prior written approval of the City. <br />7. Term and Termination. This Agreement and the obligations on the part of all parties <br />shall be deemed terminated and of no further force or effect if, within two (2) years of the <br />Effective Date, no permit applications are submitted to the City or other regulatory agency to <br />initiate or continue development of the Property as a multi-family community. Otherwise, this <br />Agreement shall terminate upon completion of annexation proceedings and zoning to "MF-18" <br />(or equivalent zoning district), unless extended by mutual agreement of Developer and City. <br />8. Notice. Any notice and or statement required and permitted to be delivered shall be <br />deemed delivered by actual delivery, facsimile with receipt of confirmation, or by depositing the <br />same in the United States mail, certified with return receipt requested, postage prepaid, addressed <br />to the appropriate party at the following addresses: <br />Owner: Reece & Beverly Morrison <br />Developer: NRP Properties LLP <br />111 Soledad; Suite 1220 <br />San Antonio, TX 78205 <br />210.487.7878 office <br />210.487.7880 facsimile <br />City: City of San Marcos <br />630 East Hopkins <br />San Marcos, TX 77666 <br />512.' )93.8100 office <br />512.396.4656 facsimile <br />with copies to: Rob Killen <br />Kaufman & Killen, Inc. <br />100 West Houston Street <br />Suite 1250 <br />San Antonio, TX 78205 <br />is