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23. AGREEMENT REGARDING CONSTRUCTION OF WATER FACILITIES BETWEEN THE CITY OF SAN MARCOS AND CORBAN, LTD. AND COLLEEN SMITH SHELTON This Agreement dated Nay 9 , 2000 is between the City of San Marcos (the "City") and Corhan, Ltd. and Colleen Smith Shelton (the "Owners"). The City and the Owners are referred to collectively in this Agreement as the "Parties". Recitals A. The City and the Owners (Handler Smith as predecessor in interest to Corhan, Ltd.) previously entered into an agreement dated April 25, 1988 for the Owners' dedication of water well sites and easements and the City's construction of a project (the "Project") involving the construction of a water transmission line (the "Water Line") across a 429 acre tract of property (the "Property") in Hays County, Texas, owned by the Owners. B. The Parties wish to enter into an Agreement to provide for cost-sharing of a water line (the "Parallel Line") that the City requested to be installed parallel to the Water Line in connection with Section 10 of the Willow Creek Estates Subdivision (the "Subdivision") on the Property. C. The Parties wish to agree on the general layout of connections to be made to the Water Line to provide water service to lots adjoining the route of the Water Line in Willow Creek Estates Sections 11 and 12. Ae:reement. For and in consideration of the mutual promises, covenants, obligations and benefits described in this Agreement, the City and the Owners agree as follows: Section 1. The City agrees to pay to the Owners the sum of $16,676.82, being one-half of the cost of the Parallel Line. The City will make this payment within 30 days of the acceptance of the completed Parallel Line by the City. Section 2. The OWilers have proposed that the general layout be as shown on Attachment 1 for connections to be made to the Water Line to provide water service to lots adjoining the route of the Water Line for the development of Sections 11 and 12 of the Subdivision. The City approves this general layout and agrees to approve subdivision construction plans that use this layout, subject to approval of Sections 11 and 12 of the Subdivision in accordance with the City's subdivision ordinances. The Owners acknowledge and agree that the plans and specifications for the connections, and the construction of the connections, must comply with all applicable City standards. Section 3. A. This Agreement is assignable by the Owners, and their successors in interest as to Sections 11 and 12 of the Willow Creek Estates subdivision, to succeeding owners of Sections 11 and 12 of the Willow Creek Estates subdivision. Otherwise, neither party may assign any of its rights, or