Res 2003-019 - Laserfiche WebLink

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24. Donation Al~reement WHEREAS, the undersigned, being the owners of property located within tbe BIanco Shoals Planned Development District (the "PDD"), desire to make a charitable donation of said property to the City of San Marcos (the "City"); and WHEREAS, it is agreed and understood by tbe undersigned (tile "Owners") and tile City that such donation is intended solely as a gift, and is to be made without actual consideration or expectation of consideration in exchange therefor, NOW, THEREFORE, the Owners and the City agree as follows: The Owners agree to doaate to the City that certain property consisting of 81.49 acre, more or less, depicted on the attached map (the "Property"), consisting of all of Lots 5, 6, 7, 8 and 9 of the PDD, located offofthe 2200 Block of IH-35 Nortb in the City of San Marcos, Hays County, Texas, no later than December 3I, 2003. The donation will be by deed approved by the City Attorney of the City. The Owners and the City agree that the deed will contain restrictive covenants regarding the allowed uses of the Property as described in the Development Standards included in the approved PDD zoning ordinance for the Property. 2. Tile Owners and tile City will each pay one-half (1/2) of the cost of the appraisal of the Property, with said appraisal being obtained by the City. This cost will be apportioned at the time of closing of the sale by the Owners to the City of Lot 4 of the PDD, or in the event the earnest money contract for that sale is terminated, and such termination is not due to default by the City, the Owners will pay one-half of the cost of the appraisal to the City within 30 days ofwriXen request by the City tberefor. Executedtbis ~/5~ dayof ~ ,2003. Alan Holt William C. Holt Sbani l: t Ar bruste William C Holt, Jr .~ ' ff David~. Hg~/~ , ~ ~m ~ Timothy J. Holt ~Z~>.~Z ~ ~ ~ THE STATE OF TEXAS § § 9 COUNTY OF HAYS § ~ ~ ~ This instrument was acknowledged before me on tbis ,~ay Holt. of~e ~9 ,2003, by Alan