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<br />I <br />, . 40 <br /> <br />/ p¿ r?¿' ~é13 <br />RELOCATION AGREEMENT <br /> <br /> <br />THIS RELOCATION AGREEMENT (this "Agreement") is made and entered into this <br />24th day of December, 1996, by and between HILLSIDE VILLAS LIMITED, a Texas limited <br />partnership ("Owner") and the CITY OF SAN MARCOS, a Texas municipal corporation <br />("City"), for the purposes and considerations hereinafter set forth: <br /> <br />Recitals: <br /> <br />A. Owner is the owner of that certain tract of land containing 11.750 acres, more or <br />less, located on North LBJ Drive, in the City of San Marcos, Hays County, Texas, more <br />particularly described in Exhibit If A If which is attached hereto and incorporated herein by <br />referenced (the "Property If). <br /> <br />B. City. owns the overhead electric lines ("Lines If) which are located in the northwest <br />part of the Property and Owner wishes to reserve the right to have the Lines relocated by the <br />City at the Owner's expense in the future. <br /> <br />C. Owner and City wish to execute this Agreement for the purposes of evidencing <br />and confirming their agreements on these matters as hereinafter set forth: <br /> <br /> <br />.. <br />A~eements: <br /> <br />NOW, THEREFORE, in consideration of the premises, the sum of TEN AND NO/lOG <br />DOLLARS ($10.00) and other good and valuable consideration, the receipt and sufficiency of <br />which are hereby acknowledged, it is hereby agreed by the parties as follows: <br /> <br />1. Relocation of Lines. City hereby agrees, for itself and its successors and assigns, <br />that it will relocate the Lines to an alternate location along the boundary of the Property, <br />- determined by mutual agreement of the Parties, at the request of Owner within a reasonable <br />period of time after being requested to perform such action; and <br />I <br /> <br />2. Payment. At such time as the Lines are relocated, City shall be entitled to <br />reimbursement by Owner of the reasonable costs of performing such action, and Owner shall <br />grant to City an easement along the boundary of the Property for the new location of the Lines. <br /> <br />3. Covenants Running With the Land. It is understood and agreed that the <br />provisions of this Agreement shall be deemed to be covenants running with the land which are <br />for the benefits of, and create burdens on, the Property. <br /> <br />4. Binding Effect. This Agreement shall inure to the benefit of and be binding upon <br />the successors and assigns of the respective parties hereto. <br /> <br /> <br />~<?,,-t(lL"f ~. <br />RELOCATION AGREEMENT (11.750 Acres) PAGE 1 OF 3 <br />":!TY OF SAN MARCOS <br />;:.TTN: Leg,al Dept. <br />630 East Hookins Street <br />:'Jan M::.rcos,' TX 78666 <br />