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Ref: Hutchison Parking Lot NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OF THE FOLLOWING INFORMATION FROM THIS INSTRUMENT BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER. RIGHT OF FIRST REFUSAL Date: June 1 3 2010 Grantor: Texas State University -San Marcos Support Foundation, 601 University Drive, San Marcos, Hays County, Texas Grantee: City of San Marcos, Texas, 630 East Hopkins Street, San Marcos, Hays County, Texas 78666 Consideration: $10.00 and other good and valuable consideration, the receipt of which is hereby acknowledged. Term: 10 years Property: All of Lot 3A, Block 20, of the ORIGINAL TOWN OF SAN MARCOS, Hays County, Texas, according to the map or plat thereof recorded in Volume 3, Page 53, of the Plat Records of Hays County, Texas. Right of First Refusal Granted: For the Consideration, Grantor, during the Term, grants to Grantee the exclusive right to purchase the Property, with all improvements and appurtenances, as follows: 1. Right of First Refusal To the extent Grantor is authorized to sell the Property to Grantee without soliciting public bids under applicable law, before Grantor may solicit bids or agree to sell the Property to any other person or entity, Grantor shall first notify the Grantee that Grantor intends or desires to sell the Property. a. Receipt of Bona Fide Offer If Grantee intends to sell the Property in response to a bona fide offer to purchase the Property, the notice provided to Grantee shall disclose the terms and conditions of any bona fide offer for the purchase of the Property that Grantee desires to accept. Grantee shall have the right and option to purchase the Property on the same terms and at the same price as the bona fide offer disclosed in the notice. Grantee will have 90 days after receipt of the notice to notify the Grantor of Grantee's intent to exercise the right and option to purchase the Property. Upon the Grantee's delivery of such notice, the parties shall execute an agreement for the purchase and sale of the Property within 30 days having the same essential terms as the