Res 2003-025 - Laserfiche WebLink

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Donation A2reement VlHEREAS, the undersigned, being the owners of property located within the Blanco Shoals Planned Development District (the "PDD"), desire to make a charitable donation of said property to the City of San Marcos (the "City"); and WHEREAS. it is agreed and understood by the undersigned (the "Owners") and the City that such donation is intended solely as a gift, and is to be made without actual consideration or expectation of consideration in exchange therefor, NOW, THEREFORE, the Owners and the City agree as follows: 1. The Owners agree to donate to the City that certain property consisting of 81.49 acre, more or less, depicted on the attached map (the "Property"), consisting of aJI of Lots 5, 6, 7, 8 and 9 of the PDD, located off of the 2200 Block ofIB-35 North in the City of San Marcos, Hays County, Texas, no later than December 31, 2003. The donation will be by deed approved by the City Attorney of the City. The Owners and the City agree that the deed wil1 contain restrictive covenants regarding the aJIowed uses of the Property as described in the Development Standards included in the approved PDD zoning ordinance for the Property. 2. The Owners and the City wiJI each pay one-half (1/2) of the cost of the appraisal of the Property, with said appraisal being obtained by the City. This cost will be apportioned at the time of closing of the sale by the Owners to the City of Lot 4 of the PDD, or in the event the earnest money contract for that sale is terminated, and such termination is not due to default by the City, the Owners will pay one-half of the cost of the appraisal to the City within 30 days of written request by the City therefor. Executed this day of ,2003. Alan Holt William C. Holt Shani Holt Armbruster Wil1iam C. Holt. Jr. David W. Holt Timothy J. Holt COUNTY OF HAYS § § § THE STATE OF TEXAS This instrument was acknowledged before me on this - day of ,2003, by Alan Holt. Notary Public, State of Texas