Res 2024-132 approving a Release and Partial Release of Wastewater Easements located near Posey Road and IH 35 and expending $35,505.00 and closing costs in exchange for a larger wastewater easement

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Project: Posey Road Wastewater Parcel: 00006.0001 EXCHANGE LETTER AGREEMENT This Letter Agreement (the "Agreement") is made by and between BKCK LTD., a Texas Limited Partnership ("Grantor"), c/o Benjamin Keating, 5802 N. Navarro, Suite 100, Victoria, Texas 77904(address), 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 0.4945-acre (21,541 square foot) area for a COSM Public Wastewater Utility Easement owned by Grantor in connection with Posey Road Wastewater Project. 2. Grantor has agreed to Grant a COSM Public Wastewater Utility Easement to the City, subject to the terms of this Agreement. II. Agreement 1. Together with this Agreement, Grantor has executed a COSM Public Wastewater Utility Easement in favor of the city, which is attached hereto and made a part hereof for all purposes(the "Easement"). The Easement grants certain rights to the City across a portion of real property owned by Grantor, described in the Easement as the `Basement Area." In addition, the City has agreed to the following conditions. • The city will replace and or repair any section of fence 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$35,505.00 for a total 0.4945-acre (21,541 square foot) COSM Public Wastewater Utility Easement, within 90 days after the receipt of this Agreement and the City agrees to Release Easement Doc.#04022975 and a Partial Release of Easement Doc.#04022974 to Grantor attached to this Agreement as Exhibit "A & B" ("Properties"), after construction of the COSM Public Wastewater Utility Easement and physical removal of any public facilities on the Properties, Capital Improvements Department•639 East Hopkins•San Marcos,Texas 78666.512/393-8130-FAX 512/396-3796