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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 Volume 1039, Page 698, of the <br /> <br />Official Public Records of Hays County, Texas. <br />3. The" September 23, 1992 Easement" means that Easement acknowledged September 23, <br /> <br />1992, executed by LOVvman to Stanley K. Tanger and recorded at Volume 960, Page 014, of the <br /> <br />Official Public Records of Hays County, Texas. <br /> <br />4. "30 foot Drainage Easement" means that Easement acknowledged September 23, 1992, <br /> <br />executed by Lowman to the Public and recorded at y' olume 960, Page 0 l8, of the Official Public <br /> <br />Records of Hays County, Texas, <br /> <br />5. "City Easement" means that the Easement acknowledged November 9, 1992, executed by <br /> <br />Stanley K. Tanger to the City of San Marcos and recorded at Volume 960, Page 21 of the Official <br />Public Records of Hays County, Texas. <br /> <br />6. "Closing" means that time when all parties exchange all consideration and documents that <br /> <br />are contemplated by this agreement. Closing shall occur at the San Marcos Municipal Building at <br /> <br />a date and time mutually agreed by the parties but in no event later than specified in paragraph 15 <br /> <br />below. <br /> <br />7. The parties agree that the City Easement and the September 23, 1992 Easement shall be <br /> <br />replaced, and in its place a ne\v easement will be granted by Lowman to the City. A true and correct <br /> <br />copy of that document, entitled "Drainage and Detention Easement Agreement," is attached as <br /> <br />Exhibit "E" hereto. At Closing, the City shall issue to Tanger a permit, allowing Tanger to discharge <br /> <br />Water into the area covered by the Drainage and Detention Easement Agreement. The City agrees <br /> <br />2 <br />