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<br />. <br /> <br />. <br /> <br />john Q Hammons <br /> <br />IHP1I5TII.lII!S <br /> <br />Dccember 8, 2003 <br /> <br />VIA FACSlMlLE (51]) 393.5911 <br />Mr. Phil Neigbbors <br />San Marcos Chamber of Commerce <br />202 Nonh eM Allen Parkway <br />San Marcos. TexllS 78666 <br /> <br />Re: Prop05Cd John Q. Hammonll Development; San Marcos, Texas <br /> <br />Dear Mr. Neighbors: <br /> <br />This letter shall serve as a Memorandum ofUnderstandiog to establish the basic tenDs <br />and conditions under whi(;h John Q. Hammons would be interested in completing a hotel and <br />convention center development in the city of San Marcos, TexIS. <br /> <br />1. PARTIES <br /> <br />Developer: <br />City: <br /> <br />John Q. Hammo.. ("JQD") <br />City of Sa. Marcos. Tex.. ("City") <br /> <br />2. PROPERTY <br /> <br />Approximately 30 acres located in San Marcos. Texas.. as more <br />particularly identified 00 &hibil "A" attached to this Memorandum of <br />Understanding. John Q. Hammons bas entered into an agreement for the <br />purchase of this property provided it is suitable for the contemplated <br />development. <br /> <br />3. CITY OBLIGATIONS <br /> <br />a. City shall properly zone the uea ro allow construction and <br />operation of convention cenler and hotel. <br />b. City shall provide all utilihea to the site. including water, gas. <br />electric, sanitary and storm sewer system, lelephone. cable. de. <br />c. City shall finance construction ota convention center containing <br />a minimum of 75,000 square feet. Estimated cost of the <br />convention center ili approll.lmately S 13,000,000 to S 15,000.000. <br /> <br />T_ HUMIIIIBD <br />JOJDI Q. HAIOIONll PKW'[. <br />Sum NTNll: HUNDUD <br />SPRlNGPWJJ. MIIIOVa 010I <br />u,~oo 'AX IlIMIDlI <br /> <br />26 <br />