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183. MBT Draft 4-18-0 I DONATION AGREEMENT 1. Parties. Terrand, Ltd. is "Terrand," and the City of San Marcos, Texas, a Texas municipal corporation, is the "City". 2. Donation. Terrand agrees to donate, and the City agrees to accept the donation of, the following two tracts of real property (the "Property") identified generally on the attached Exhibit A: Tract 1: A tract of land approximately 90 acrcs in size, being a portion of the 113.37 acre, more or less, tract of land conveyed to Terrand, Ltd. by deed recorded in Volume 1427, page 174 of the Official Public Records of Hays County, Texas. Tract 2: A tract of land approximately three acres in size, being a portion of the 113.37 acre, more or less, tract of land conveyed to Terrand, Ltd. by deed recorded in Volume 1427, page 174 of the Official Public Records of Hays County, Texas. Terrand will convey the Property to the City by general warranty deed. 3. Use of Property. The City is acquiring the Property for use as right-of-way for the Wonder World Drive Extension Project (the "Project"), and to comply with requirements under federal law for avoiding and minimizing the environmental impacts of the Project, and to provide parkland/greenspace in an environmentally sensitive area. 4. Survey. Terrand agrees to arrange for, and the City agrees to pay for, a boundary survey of the Property by a professional land surveyor registered in Texas, to be completed prior to closing. 5. Title Insurance; Taxes and Liens. The City intends to obtain title insurance for the Property. Thc City will obtain a title commitment, and will pay the premiums for the insurance. Terrand agrees to pay all taxes due, and satisfy and secure the release of any liens against the Property prior to the closing. 6. Inspections. The City may perform physical inspections, environmental assessments and engineering studies of the Property at the City's expense. 7. Closing. The closing for the donation of the Property will occur no later than June 29,2001. 8. Termination. The City may decline the donation of the Property and terminate this agreement for any of the following reasons: A. The City does not receive confirmation from the U.S. Fish and Wildlife Service by the closing date that the property being acquircd by the City under this agreement, and the property being acquired by the City from Terrand under the Unimproved Property Commercial Contract bearing the same date as this agreement, are, except for areas needed for right-of-way for the Project, approved for use as "mitigation" properties to minimize and avoid the environmental impacts connected with the Project. C:\TEMP\Terrand Donation K.doc 1