Res 2001-081 - Laserfiche WebLink

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220. DEDICATION THE STATE OF TEXAS 9 9 COUNTY OF HAYS S This DEDICATION dated as of ,2001, by TANGER PROPERTIES LIMITED PARTNERSHIP, a North Carolina limited partnership. whose mailing aJdress is 3200 Northline Avenue, Suite 360, Greensboro, North Carolina 27408 to and in fayor of the CITY OF SAN MARCOS, a Texas municipal corporation (the "City"), whose mailing address is 630 East Hopkins, San Marcos, Texas 78666. BACKGROUND 1. Lowman Ranch Ltd., a Texas limited partnership ("Lowman") executed and on September 23, 1992, acknowledged an Easement to Stanley K. Tanger ("SKT') recorded in Volume 960, Page 14, of the Real Property Records of Hays County, Texas (the "Original Easement Agreement"), pursuant to which it granted a non-exclusive easement for drainage and detention purposes (the "Easement") over an easement area described on Exhibit "A" attached to the Original Easement Agreement (the "Original Easement Area"). 2. A dispute arose between Lowman and Tanger Properties Limited Partnership. a North Carolina limited partnership ("Tanger"), which is the successor to SKT with respect to the Easement, which dispute is the subject of a lawsuit styled Lowman Ranch, Ltd. v. Stanley K. Tanger and Tanger Properties Limited Partnership, Cause No. 2000-0719, pending in the 20m Judicial District Court of Hays County, Texas. The City has intervened in that suit as a defendant. All parties to the suit have reached a settlement and compromise of their respective claims. Among the agreements of the parties is the agreement of Tanger to execute this Dedication. DEFINITION OF "TANGER PARCEL" 3. For purposes of this Dedication, the term "Tanger Parcel" refers to Lots One (1), Two (2), Three (3) and Four (4) of TANGER FACTORY OUTLET, a subdivision of 55.00 acres out of the Edward Burleson Survey No 18, A-63, Hays County, Texas, according to the map or plat thereof recorded in Volume 5, Pages 383 - 385, of the Plat Records of Hays County, Texas. NOW, THEREFORE, KNOW ALL PERSONS BY THESE PRESENTS: THAT, for and in consideration of the premises and other good and valuable consideration as set forth in that certain Mediation Agreement of even date herewith by and among the parties to the above referenced lawsuit, Tanger does hereby dedicate to the City the lands described and depicted on Exhibit" A" attached hereto and made a part hereof (the "Roadway Easement"), for public roadway and public utility purposes. Tanger further agrees that Lowman shall have the option and right, at Lowman's expense and without any obligation of Tanger to contribute to that I