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<br />2. "Tract 2" means that tract ofland described in a deed dated December 20. 1993. executed by <br /> <br />Lowman to Tanger Properties Limited Partnership and recorded at Volwne 1039. Page 698. <br /> <br />of the Official Public Records of Hays County, Texas. <br /> <br />3. The "September 23, 1992 Easement" means that Easement acknowledged September 23, <br /> <br />1992, executed by Lowman to Stanley K. Tanger and recorded at Volume 960, Page 014, of <br /> <br /> <br />the Official Public Records of Hays County, Texas. <br /> <br /> <br />4. "30 foot Drainage Easement" means that Easement acknowledged September 23, 1992, <br /> <br /> <br />executed by Lowman to the Public and recorded at Volume 960, Page 018, of the Official <br />Public Records of Hays County, Texas. <br /> <br />5. "Closing" means that time when all parties exchange all consideration and documents that <br /> <br /> <br />are contemplated by this agreement. Closing shall occur at the San Marcos Municipal <br /> <br /> <br />Building at a date and time mutually agreed by the parties but in no event later than specified <br /> <br /> <br />in paragraph 15 below. <br />6. Lowman agrees to execute an easement-related document which makes clear that the <br /> <br />September 23, 1992 Easement is intended to and does constitute a perpetual and non- <br /> <br />exclusive easement for drainage and detention purposes from both Tract 1 and Tract 2. <br /> <br />Counsel for Tanger will prepare a first draft of the written instrument. Tanger may enter the <br /> <br />drainage easement for the purpose of reasonable and necessary maintenance and for <br /> <br />reasonable and necessary improvements. <br /> <br />7. Tanger agrees at closing to pay Lowman $75,000.00 in full settlement of all claims that <br /> <br />Lowman has or could assert in the above-referenced proceeding. <br /> <br />Litigate\Lowman\Mediation.Agr <br /> <br />-2- <br /> <br />00102/01 <br />