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<br /> . . - q/¡,If <br /> , <br /> Page 2 <br /> November 14, 1995 <br /> 3. If the University obtains all approvals necessary for the abandonment and for <br /> the purchase of the Pecan Street segment, the City agrees to,abandon and <br /> sell the Pecan Street segment to the University for its value as determined <br /> by a State-certified appraiser. <br /> 4. The University acknowledges that the approval of the abandonment by the <br /> City Council, and the approval of the purchase by the university's governing <br /> Board of Regents, are discretionary decisions on the part of those bodies. <br /> The University agrees that if the abandonment of the Pecan Street segment <br /> is:not approved by the City Council by December 31, 1995, or if the purchase <br /> is not approved by the Board of Regents and by the Texas Higher Education <br /> Coordinating Board by January 31, 1996, then the University will be required <br /> to reconstruct the roadway within the Pecan Street segment as designed by <br /> a registered engineer in conformance with the City's Manual for Design and <br /> Construction. This reconstruction must be completed by May 1, 1996. <br /> { <br /> 5. If the abandonment and purchase are approved, the University agrees to <br /> provide right of access to any tracts of property adjoining the Pecan Street <br /> segment not owned by it, concurrent with the conveyance of right-of-way by <br /> the City to the University. <br /> If this agreement meets with your approval, please have it signed below and return one <br /> fully executed copy to me. <br /> : Thank you for your cooperation and assistance in this matter. <br /> , <br /> I <br /> Yours very truly, <br /> 1/Þ-1.4 h~ <br /> Larry Œ. Gilley <br /> City Manager <br /> AGREED TO AND ACCEPTED: <br /> SOUTHWEST TEXAS STATE UNIVERSITY <br /> By: tJLdu~ (;¡ ~L¿~ <br /> Wllllam A. Nance, Vlce President for Finance <br /> Name, title 11-20-95 & Support Services <br /> Date <br />