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<br /> 80
<br /> RELEASE AND OUITCLATM
<br /> THE STATE OF TEXAS §
<br /> §
<br /> COUNTY OF HAYS §
<br /> GRANTOR: THE CITY OF SAN MARCOS, TEXAS, a municipal corporation, 630 E.
<br /> Hopkins Street, San Marcos, Texas 78666
<br /> GRANTEE: VICTORIA BANK AND TRUST COMPANY, P. O. Box 887, San Marcos,
<br /> Texas 78667
<br /> CONSIDERATION: ONE AND NO/lOO DOLLARS ($l.OO) and other good and
<br /> valuable consideration, the receipt and sufficiency of which is
<br /> acknowledged.
<br /> PROPERTY: All that certain tract or parcel of land consisting of 1.13
<br /> acres of land out of the John williams Survey, Hays County, Texas, being
<br /> a portion of that 425.55 acre tract of land conveyed to Mountain
<br /> Enterprises, Inc. by Clovis R. Barker and Medical X-Ray Consultants,
<br /> P.A., Profit-Sharing plan and Trust by deed dated June 19, 1984, and of
<br /> record in Volume 450, page l87, Hays County Deed Records, said l. l3 acre
<br /> tract being more particularly described by metes and bounds in Exhibit
<br /> "A, " attached hereto and made a part hereof for all purposes.
<br /> RECITATIONS:
<br /> <
<br /> 1. The Property is part of the land platted by Mountain Enterprises,
<br /> Inc. and others -as the Estates of San Marcos, a subdivision,
<br /> according to the map or plat (the "Plat") thereof dated July 27,
<br /> 1989, and of record in Volume 5, pages l80-l86, of the Plat Records
<br /> of Hays County, Texas.
<br /> 2. Mountain Enterprises, Inc., the Estates of San Marcos Homeowners
<br /> Association, Inc., other property owners within the Estates of San
<br /> Marcos and the City of San Marcos entered into an agreement (the
<br /> "Agreement") dated December l2, 1989 and of record in Volume 8l4,
<br /> pages 63l-641, of the Official Public Records of Hays County, Texas,
<br /> which creates certain obligations on Mountain Enterprises, Inc. and
<br /> the other property owners with respect to the Estates of San Marcos
<br /> and gives to the City of San Marcos the right to impose a lien on
<br /> all lots within the subdivision to secure the completion of a water
<br /> facility and road improvements.
<br /> 3. Prior to the recording of the plat and thè execution of the
<br /> Agreement, the holder of title to the Property (as well as title to
<br /> portions of the land that later became subdivided as the Estates of
<br /> San Marcos), Mountain Enterprises, Inc., gave a Deed of Trust,
<br /> conveying the Property in trust to Victoria Bank and Trust Company,
<br /> dated September 28, 1987 and of record in Volume 698, pages 686-694,
<br /> of the Real Property Records of Hays County, Texas. The Property
<br /> was subsequently posted for foreclosure under said Deed of Trust and
<br /> purchased at foreclosure sale by victoria Bank and Trust Company.
<br /> victoria Bank and Trust Company has not recognized either the
<br /> Agreement or the Plat.
<br /> THEREFORE, for the consideration, Grantor releases and quitclaims
<br /> to Grantee all of Grantor's right, title, and interest in and to the
<br /> property and releases Grantee from all obligations imposed by the
<br /> Agreement; TO H.Z>..VE AND TO HOLD it to Grantee, its successors and assigns.
<br /> However, this Release and Quitclaim shall have no effect on Grantor's
<br /> rights under said Agreement as they may affect the remainder of the
<br /> Estates of San Marcos.
<br /> I EXECUTED this the 7th day of December , 1994.
<br /> I
<br /> CITY OF SAN ~Z>..RCOS
<br /> By: ).:;:/ / / /:7
<br /> , r'.(^~ /.-/, L4 ~
<br /> Larry D :. Gilley ,-:-
<br /> City Manager J
<br />
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