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RIGHT OF WAY DEDICATION AGREEMENT <br />This Right of Way Dedication Agreement ("Agreement") is entered into to be effective as <br />of the 2!2� day of , 2024 (the "Effective Date"), by and among (i) CARMA <br />PASO ROBLES LLC, a TexAs limited liability company ("Owner"), and (ii) CITY OF SAN <br />MARCOS, TEXAS, a home rule municipality of the State of Texas (the "City"). Owner and City <br />may be referred to herein, individually, as a "party" or collectively, as the "parties." <br />RECITALS: <br />A. WHEREAS, Owner is the owner of that certain approximately 35.599-acre tract of <br />land located southwest of the intersection at CR 234 (locally known as Centerpoint Road) and <br />Hunter Road, more particularly described in Exhibit A, attached hereto and incorporated herein <br />("Owner's Property"); and <br />B. WHEREAS, the City, in partnership with Hays County, Texas, intends to improve <br />CR 234 south of the intersection with Hunter Road and construct a bridge over the railroad that <br />perpendicularly crosses CR 234 south of Owner's Property ("CR 234 Improvements") and such <br />CR 234 Improvements necessitates increased right of way width along CR 234; and <br />C. WHEREAS, Owner has agreed to conditionally dedicate, subject to the terms <br />herein, an 0.628-acre portion of the Owner's Property, being more particularly described and <br />depicted on Exhibit B (the "ROW Tract") to the City as public right-of-way for the CR 234 <br />Improvements; and <br />D. WHEREAS, the City and Owner desire to establish the terms herein related to the <br />conditional dedication of the ROW Tract. <br />NOW, THEREFORE, in consideration of the mutual promises, agreements, covenants <br />and restrictions of the parties herein contained, which each of the parties acknowledges is adequate <br />and sufficient, the parties hereto agree as follows: <br />1. Dedication of ROW Tract. Subject to the conditions and timing provided in <br />Sections 2 and 3, Owner agrees to dedicate the ROW Tract as public right-of-way to the City in a <br />form substantially similar to Exhibit D. In the event the conditions and timing for such dedication <br />are not satisfied as provided herein, Owner will be released from the obligation to dedicate the <br />ROW Tract. Notwithstanding the foregoing, Owner will not be released from the obligation to <br />dedicate right-of-way that would otherwise be required (if any) in accordance with applicable City <br />regulations at the time the Owner's Property is platted and pursuant to the City's Master <br />Thoroughfare Plan. <br />2. Conditions of Dedication. Dedication of the ROW Tract is contingent on the <br />following: <br />(a) The centerline of CR 234 shall remain substantially in the same location as <br />it currently exists. The Parties acknowledge and agree that construction of CR 234 Improvements <br />may not be initiated for several years. In the meantime, Owner intends to continue pursuing <br />