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<br /> 107 <br /> REAL ESTATE CONTRACT <br /> This contract is between Southwest Texas State University Support Foundation, a <br /> Texas nonprofit corporation, as Seller, and the City of San Marcos, a Texas municipal <br /> corporation, as Purchaser. <br /> 1. Purchase and Sale <br /> 1.01. Seller agrees to sell, and Purchaser agrees to purchase, those six tracts of <br /> land in Hays County, Texas within the corporate limits of the City of San Marcos as <br /> described in Exhibits "A" through "F" attached to this contract (the "real property"), together <br /> with all rights and privileges to the Rio Vista Dam set out in Certificate of Adjudication No. <br /> 18-3867 dated July 16, 1985, issued by the Texas Water Commission (the "water rights"). <br /> The real property and the water rights are collectively referred to as ~he "property" in this <br /> contract. <br /> 2. Purchase Price <br /> 2.01. The purchase price is $266,175, or the value of the property as approved <br /> by the Texas Parks and Wildlife Department in connection with the City's grant <br /> application for the San Marcos Park and Wildlife Habitate Phase II, whichever <br /> is higher, payable in cash in full at closing. <br /> 3. Closing <br /> 3.01. The closing will be held on or before January 31, 1995 at the office of Hays <br /> County Abstract Company in San Marcos, Texas. <br /> 3.02 At closing, Seller will deliver to Purchaser an executed and acknowledged <br /> general warranty deed conveying good and marketable title in fee simple to the real <br /> property, free of liens, encumbrances, conditions, easements, leases, assessments, and <br /> restrictions, except those acceptable to Purchaser. Purchaser agrees to accept the real <br />