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<br />37. <br /> <br />CONSENT AGREEMENT <br /> <br />September ~, 2000 <br /> <br />Imperial Bank, a California corporation (the "Lender") <br />1331 North California Boulevard, Suite 400 <br />Walnut Creek, California 94596 <br />Attention: Cherri Kirchoff <br /> <br />Re: Agreement: That certain Development Agreement Between the City of San <br />Marcos and Legend Communities, Inc. d/b/a SDC Austin <br />Communities ("Legend") for Proposed Castle Ridge Subdivision <br />Development dated January 12, 1999, by and between the City of San <br />Marcos and Legend as amended by Amendment No. 1 to <br />Development Incentive Agreement Between the City of San Marcos <br />and Legend Communities, Inc. for Proposed Castle Ridge <br />Subdivision Development dated September 14, 1999 (the <br />"Agreement"). The Agreement was assigned by Legend to SDC <br />Franklin Street Partners, Ltd. pursuant to that certain Assignment of <br />Development Agreement dated September 26 , 2000 (the <br />"Assignment"). <br /> <br />Project: <br /> <br />Bishop Crossing Subdivision Development <br /> <br />Borrower: <br /> <br />SDC Franklin Street Partners, Ltd., a Texas limited <br />partnership <br /> <br />City: <br /> <br />The City of San Marcos, a municipal corporation <br /> <br />Loan: <br /> <br />That certain loan from Lender to Borrower in the amount of <br />$7,300,000.00 as evidenced by that certain promissory note <br />executed or to be executed by the Borrower, payable to the <br />order of the Lender, to finance certain construction on real <br />property described more particularly on Exhibit "A" attached <br />hereto and incorporated herein by reference (the "Property"). <br /> <br />Ladies and Gentlemen: <br /> <br />The City acknowledges, represents and agrees with the Lender and the Borrower as follows: <br /> <br />1. The City consents to and acknowledges the Assignment. <br /> <br />2. The City consents to and acknowledges that: {i)the Borrower has assigned and <br />granted a lien and security interest to Lender in all of the Borrower's right, title and <br />interest to the Property and the Agreement; and (ii) the Lender (or any purchaser at <br /> <br />90107.1/09130 <br />