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<br />~ . <br />. . . <br /> 41 <br /> RELOCATION AGREEMENT /~~(P 7°? <br /> THIS RELOCATION AGREEMENT (this "Agreement") is made and entered into this <br /> 24th day of December, 1996, by and between REAL PROPERTY HOLDING, INC., a Texas <br /> corporation ("Owner") and the CITY OF SAN MARCOS, a Texas municipal corporation <br /> ("City"), for the purposes and considerations hereinafter set forth: <br /> Recitals: <br /> A. Owner is the owner of that certain tract of land containing 2.953 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 "A" which is attached hereto and incorporated herein by <br /> referenced (the "Property"). <br /> B. City, owns the overhead electric lines ("Lines ") 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 /> 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 /> A2'reements: . <br /> NOW, THEREFORE, in consideration of the premises, the sum of TEN AND NO/1O0 <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 /> 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 /> 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 /> 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 /> 4. Bindinl?: Effect. This Agreement shall inure to the benefit of and be binding upon <br /> the successors and assigns of the respective parties hereto. <br /> RELOCATION AGREEMENT (2.953 Acres) 7 ¡¿: ;ï,,~¡<¡ í'.-. PAGE 1 OF 3 <br /> Crry OF SAN MARCOS <br /> ATTN: Ler:a! Dept. <br /> 630 East Ropkins Street <br /> San Marcos, TX 76666 <br />