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<br /> "- - <br /> 26 <br /> SAN MARCOS SMALL BUSINESS INCUBATOR CONTRACT <br /> STATE OF TEXAS <br /> COUNTY OF HAYS <br /> SECTION 1. PARTIES TO CONTRACT <br /> This contract is between the San Marcos Industrial Foundation (the <br /> "Foundation") and the City of San Marcos (the "city"). <br /> This contract involves the delegation by the city to the Foundation <br /> of certain duties and authority under the city's contract (the <br /> "Grant Contract") with the Texas Department of Housing and <br /> Community Affairs (the "Department") dated January 22, 1994 for <br /> the rehabilitation of slum and blight conditions, and renovation <br /> and remodeling (the "Construction Project"), ~ and for the <br /> development and operation of a Small Business Incubator (the <br /> "Incubator"), at 300 w. San Antonio Street in San Marcos, Texas <br /> (the "Project site"). The Construction Project and the Incubator <br /> are collectively called the "Project" in this contract. <br /> SECTION 2. CONTRACT PERIOD <br /> The term of this contract (the "contract period") shall commence on <br /> January 22, 1994, and shall terminate on January 21, 1999, unless <br /> otherwise specifically provided by the terms of this contract. The <br /> effective date of this contract is January 22, 1994. <br /> SECTION 3. CONTRACT PERFORMANCE <br /> The city and the Foundation agree to conduct, in a satisfactory <br /> manner as determined by Department, an economic development program <br /> in a non-entitlement area under Title 1 of the Housing and <br /> community Development Act of 1974, as amended (42 U.S.C. Sec. 5301 <br />