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<br />174. <br /> <br />CAPITAL IMPROVEMENT AGREEMENT <br /> <br />This Agreement is made on May 10 , 2004 between the City of San <br />Marcos, a Texas municipal corporation (the "City"), and Rio Marc Development, Ltd. (t11e <br />"Developer") . <br /> <br />RECIT ALS <br /> <br />1. The Subdivision Chapter (C11apter 110) of the San Marcos City Code provides for the <br />installation of certail1 public improvements associated with new subdivisions~ City Code Sectiol1 <br />110.089 provides for the City to bear a portion of the cost of curb and gutter and paving on any street <br />within a subdivisiol1 along the boundary of a park area being dedicated to the City. <br /> <br />2. The City desires execute an agreement with the Developer for sharing the cost of the <br />following roadway improvements (the "Road Improvements") along the boundary of a park area to <br />be dedicated to the City in connection with the EI Camino Real Subdivision (the "Subdivision"): <br /> <br />Approximately 637 linear feet of curb and gutter, 375 square yards of 3" asphalt, al1d 710 <br />square yards of 1 'lí" asphalt <br /> <br />3. The Developer has provided the City with the cost estimate of the Developer's engineer <br />for the construction of the Road Improvements, and the Developer has otherwise substantiated all <br />eosts for which it is requesting cost participation to the City's satisfaction. <br /> <br />4. The City and the Developer have agreed to allocate the cost of the Road Improvements as <br />described in this Agreement. <br /> <br />AGREEMENT <br /> <br />The City and the Developer, in consideration of t11e mutual promises, covenants and <br />agreements set fortI1 in this Agreement, agree and contract as follows: <br /> <br />1. The Developer agrees to construct the Road Improvements as described 011 the <br />construction plans for the Subdivision approved by the City, in acøordw1ce with the City's <br />construction standards and specifications. <br /> <br />2. The Developer will act as project manager in the construction of the Road Improvelnents~ <br />The Developer will ensure that the construction is carried out under the direct supervision of a <br />professional engineer registered in the State of Texas. <br /> <br />3. The City agrees to pay to the Developer $9,082.00 in a lump sum no later than 30 days <br />after the final acceptance of the Road Improvements by the City. <br /> <br />"4. The City agrees to inspect the construction of the Road Improvements as construction <br />progresses, to inspect the Road Improvements upon completion of construction, and to accept the <br /> <br />1 <br />