Res 2005-061 - Laserfiche WebLink

Home Browse Search

169. LETTER AGREEMENT This Letter Agreement (the "Agreement") is made effective as of this 18th day of June , 2005, by and between B&B Family Pamtership, Ltd., John F. Baugh and wife, Eula Mae Baugh, ("Grantor", whether one or more) and the City of San Marcos, Texas ("Grantee"). WHEREAS, pursuant to The City of San Marcos Water/Wastewater Easement of even date herewith (hereinafter referred to as "the Conveyance") between Grantor and Grantee (executed copy attached hereto), Grantor has granted to Grantee certain rights to 5.266 acres ofland, a part of a 532.212 acre tract and a 164.883 acres ofland, out of the William Burnett, Jr., et al surveys, Hays County, Texas; and WHEREAS, the parties desire to set forth their agreement with respect to the consideration and revegetation damages to be paid pursuant to the attached Conveyance; NOW THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows; 1. Upon City Council approval, the City agrees to pay $66,996.00 as the consideration and revegetation damages for the Conveyance; and 2. The City agrees not to record the Conveyance until delivering the consideration to Grantor, it being understood and agreed that the Conveyance is not effective until said consideration has been delivered. Further, that if the City Council does not approve the consideration stated above within 45 days of the effective date hereof, the City agrees to return to Grantor the attached unrecorded executed Conveyance and the Conveyance shall be null, void and of no further force or effect. IN WITNESS WHEREOF, this instrument was ex-ecuted as of the date first written above. Grantor: B&B Family Partnership, Ltd. BY: !2fJ.(trJ ~n~ -' LI..~ ITS: 11.PA<.fVuJ ~ (;J~ jjq: ~~. 0uufJ m:~~