Res 2006-016 - Laserfiche WebLink

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2.F; Vol The conveyances will be made no later than the date on which the Final Development Plat for the Project Site must be recorded pursuant to the Schedule set forth on Exhibit "E" to this Agreement. Contemporaneously with any such conveyances, Parties shall enter into a modification of this Agreement to reflect the new boundaries of the Hotel Site and Conference Site, respectively. At such time, JQH shall also cause the Hotel Site to be burdened by a first lien deed of trust in form and content identical to the Deed of Trust (as defined herein) so that the City will have a first lien on such property securing the indebtedness and obligations currently secured by the Deed of Trust and in connection therewith, JQH must provide the City with a Mortgagee's Policy of Title Insurance insuring the lien of such instrument as a first lien on said property subject only to the exceptions set forth in the Mortgagee Policy currently insuring the lien of the Deed of Trust and such other exceptions as may be reasonably acceptable to City. Furthermore, the Parties shall not be obligated to make any such conveyances unless they can obtain a written agreement from the then current owner of the Repurchase Options (as defined herein), in form and content acceptable to the City whereby such owner agrees to modify the Repurchase Options to reflect that such repurchase right shall apply only if construction of the Hotel does not commence on the revised Hotel Site by the date specified therein. Absent such an agreement, the Parties agree that JQH will be obligated to construct the Hotel on the Hotel Site as it is currently configured and the Parties will develop a revised Site Plan reflecting such fact. For purposes hereof, "Repurchase Options" means the repurchase options contained in that certain Donation Special Warranty Deed from Gilmore - Austex Properties, Ltd. ("Gilmore") to City recorded in Volume 2726, Page 505, et seq. of the Real Property Records of Hays County, Texas, and that certain Special Warranty Deed from Gilmore to the Trust, recorded at Volume 2726, Page 514, et seq. of the Real Property Records of Hays County, Texas. 3.2. Plans. The Project shall be constructed in accordance with the following requirements: 3.2.1. Cooperation. JQH and City shall cause their respective architects (with respect to JQH, "JQH's Architect") and engineers to work cooperatively to design complementary structures, landscaping, and related amenities (such as parking), it being understood that the Conference Center and the Hotel will be separate but connected buildings (with separate facilities, such as mechanical, electrical and plumbing systems, necessary for the operation of each), but connected by one or more interior hallways to give the appearance and function of an integrated building. 3.2.2. Consultation. JQH shall periodically consult with designated representatives of the City in connection with the design of the Hotel and make available to such representatives copies of the plans and specifications for the Hotel upon the request of the City. 3.2.3. Requirements. All improvements constructed as part of the Project must: 3.2.3.1. be designed with an architectural style appropriate to the Central Texas Hill Country setting of the Project; V? 5 803277 4