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<br />Doc Bk VQl ot.2 <br />00013211 OPR 16E1. 246 1 <br /> <br />TAX ABATEMENT AGREEMENT BETWEEN THE CITY OF SAN MARCOS <br />AND APACHE TRAILS, L.L.C. FOR DEVELOPMENT <br />OF GOLF COURSE/CLUBHOUSE FACILITIES <br /> <br />This tax abatement agreement (this "Agreement") is entered into between the City of San <br />Marcos, Texas (the "City"), a Texas municipal corporation, and Apache Trails, L.L.C. (the <br />"Developer"), a Texas corporation. <br /> <br />PART 1. GENERAL PROVISIONS <br /> <br />Section 1.01. This Agreement is authorized and governed by the Property Redevelopment <br />and Tax Abatement Act (Chapter 312 of the Texas Tax Code), and by the City's Policy on Tax <br />Abatement and Economic Development Incentives (the "Policy") adopted by Resolution on February <br />14, 2000. <br /> <br />Section 1.02. The Developer has an option to purchase the 497 acre, more or less, area of <br />land (the "Property") in Hays County, Texas described in the attached Exhibit A. The Property <br />meets the eligibility criteria for tax abatement under the Policy. The Property is situated within the <br />City of San Marcos Reinvestment Zone No. 15 designated by separate ordinance by the City Council. <br />This Agreement will be effective only if the Developer purchases the Property by July 31, 2000. <br />Section 1.03. The Property is not part of an improvement project financed with tax <br />increment bonds. <br /> <br />Section 1.04. This Agreement is subject to the rights of the holders of outstanding bonds of <br />the City. <br />Section 1.05. The Property is not owned or leased by any member of the San Marcos City <br />Councilor any member of the City Planning and Zoning Commission. <br />Section 1.06. The Developer agrees to ensure that all of the improvements described below <br />will conform to all applicable City ordinances and regulations, including but not limited to the City's <br />Master Plan, and Chapter 5-Buildings and Building Regulations, Chapter 74-Streets and Sidewalks, <br />Chapter 94-Development Standards, Chapter 11 O-Subdivisions, and Chapter 114- Zoning, of the San <br />Marcos City Code. <br /> <br />7. -. <br />/JG/U;&.d /0. <br />CITY OF SAN MARCOS <br />ATTN: Legal Dept. <br />630 East ROp'kins Street <br />San Marcos, TX 78666 <br />