Res 2003-019 - Laserfiche WebLink

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A. By dedicating across other property of the Seller, and securing a dedication by the owner of the adjacent property, of the right-of-way at the location identified generally on the attached Exhibit B. These dedications would take place in connection with the platting and exchange of properties by the Seller and the adjacent owner. The costs of such platting would be borne equally by the Buyer and the Seller. B. By dedicating across other property of the Seller the right-of-way at the location identified generally on the attached Exhibit C. This dedication would take place in connection with the platting of Seller's property, or by separate instrument approved by the Buyer and the Seller. In the event the Seller does not complete the securing of this right-of-way that is agreeable to the Buyer by the Closing Date, the Buyer may terminate this Contract and obtain a refund of the Earnest Money. In the event that the right-of-way is secured, roadway improvements in the right-of-way will be made in accordance with City ordinances and policies as adjacent properties are platted and developed. 2. The Seller and the Buyer will each pay one-half of the cost of the appraisal obtained by the Buyer of the Seller's adjacent property (Lots 5, 6, 7, 8 and 9 of the Blanco Shoals Planned Development District development) to be donated by the Seller to the Buyer. This cost wilt be apportioned at the time of closing, or if this Contract is terminated without the sale closing, the Seller will pay one-half of the cost of the appraisal to the Buyer within 30 days of written request by the Buyer. 18. BROKER'S FEES/COMMISSIONS. The Seller is responsible for paying any commissions or fees for brokerage services obtained by the Seller. EXECUTED in multiple counterparts by the Seller and Buyer on the dates set forth below. The later signature date will be the Effective Date of this Contract. BUYER: City of San Marcos Dan O'Leary, Cit~vlanager SELLER: Alan Holt William C. Holt Date: Date: Date: