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68. CITY OF SAN MARCOS REVOLVING LOAN FUND CONTRACT STATE OF TEXAS COUNTY OF HAYS SECT/ON 1. PARTIES TO CONTRACT This contract is made and entered into between the City of San Marcos, a Municipal Corporation, hereinafter referred to as "City", and Cal Tex Partners L TO, hereinafter referred to as "Company". The parties hereto have agreed to the mutual obligations and to the performance and accomplishment of the tasks described herein. SECTION 2. CONTRACT PERIOD The period of this contract shall commence on the date of execution of the last signatory of this contract (known as the Date of Execution) as shown on page 19, and shall terminate three years from the Date of Execution, unless otherwise specifically provided by the terms of this contract. The Company shall not expend any matching funds or incur any reimbursable expenses to the final execution of this contract. "'~CTION 3. COMPANY PERFORMANCE Company shall conduct, in a satisfactory manner as determined by City, an economic development project, hereinafter sometimes referred to as the "Revolving Loan Fund Project" or the "project," in an entitlement area under Title I of the Housing and Community Development Act of 1974, as amended (42 U.S.C. Sec. 5301 et seq.), hereinafter referred to as the "Act". Company shall perform all activities in accordance with the terms of the Performance Statement, Exhibit A; the Budget, Exhibit B; the Applicable Laws and Regulations, Exhibit C; the Certifications, Exhibit D; the assurances, certifications, and all other statements made by Company in its application for the project funded under this contract; and with all other terms, provisions, and requirements set forth in this contract. All exhibits and attachments referred to in this contract are incorporated into this contract as if fully set out herein. B. In the event Company fails to satisfy any special condition of this contract, fails to implement the project described in the Performance Statement, Exhibit A, including ensuring the creation or retention of the number of permanent jobs specified therein, or fails to comply with any provision of this contract, then, in addition to the remedies specified elsewhere in this contract, Company may be liable to City for an amount not to exceed City's maximum obligation under this contract, and may be barred from applying for or receiving additional Revolving Loan Fund (RLF) contracts until repayment to City is made and any other compliance or audit finding is resolved. SECTION 4. CITY OBLIGATIONS A. Measure of Liability 1 consideration of full and satisfactory performance of the activities referred to in Section 3 of this contract, ;ity will be liable for actual and reasonable costs incurred by Company during the contract period for performances rendered under this contract by Company, subject to the limitations set forth in this Section. 1. It is expressly understood and agreed by the parties that City's obligations under this Section are contingent upon the actual receipt of adequate state or federal funds to meet City's liabilities under this contract. If adequate funds are not available to make payments under this contract, City will notify