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13 AMENDMENT NO.1 TO DEVELOPMENT INCENTIVE AGREEMENT BETWEEN THE CITY OF SAN MARCOS AND DOUBLE EAGLE VENTURES, INC. FOR PROPOSED CONWAY ADDITION SECTION 4 DEVELOPMENT IN THE 600 AND 700 BLOCKS OF STURGEON STREET This is Amendment No.1 to the Development InCef1tive Agreement dated Al1gl1~r 11, 1 qqR (the "Agreement") between the City of San Marcos, Texas (the "City"), a Texas municipal corporation, and Double Eagle Ventures, Inc. (the "Developer"), a Texas corporation. The parties agree to amend the Agreement as follows: 1. Section 3.C. of the Agreement is amended as follows (underlining indicates added text): C. The City also agrees to reimburse the Developer for the pro-rata costs (the "Street and Utility Extension Costs") of engineering and construction for the extension of Sturgeon Street and the extension of water and sewer mains from the Southwest corner of the Property across existing platted right-of-way to River Road (the "Street and Utility Extension"). Before beginning construction on the Project, the Developer will submit its engineer's written, itemized estimate of the total cost of the Project and of the Street and Utility Extension Costs to the City for review and approval. The City will make reimbursements to the Developer based upon the percentage of work completed on the Street and Utility Extension, as verified by the Developer's engineer and City inspectors. 2. Section 4.C. of the Agreement is amended as follows (underlining indicates added text): C. If this Agreement is terminated under this Section, then the Developer will pay to the City the total amount of the Fee Waiver and any reimbursed Street and Utility Extension Costs within 30 days of the date of the termination. The City may record a lien against the Property for any portion of these amounts that remains unpaid after that date. This Amendment is executed by the parties in multiple originals or counterparts, each having full force and effect.