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103 1030 401 TAX ABATEMENT AGREEMENT BETWEEN THE CITY OF SAN MARCOS, BILL MCMORRIS AND HORIZON BATTERY TECHNOLOGIES, INC. STATE OF TEXAS COUNTY OF HAYS KNOW ALL PERSONS BY THESE PRESENTS CITY OF SAN MARCOS This tax abatement agreement (this "Agreement") is entered into between the City of San Marcos, Texas, (the "City") a Texas municipal corporation, Bill McMorris (the "Owner"), and Horizon Battery Technologies, Inc., a Delaware corporation (the "Tenant"). I. GENERAL PROVISIONS A. This Agreement is authorized by the Property Redevelopment and Tax'Abatement Act, Chapter 312 of the Texas Tax Code. B. This Agreement is governed, also, by the City of San Marcos' Guidelines Governing Tax Abatement and Other Economic Development Incentives, as adopted and amended by the City Council. C. The Owner is the owner of the 31.92 acre tract of property situated in Hays County, Texas, which is the subject of this Agreement (the "Property"), the legal description of which is Lot 1, Block 1, I International Electric Corporation Subdivision, as depicted on the plat recorded at Volume 3, page 393 of the Plat Records of Hays County, Texas. The Property is wholly within City of San Marcos Reinvestment Zone No.8 and is within the city limits of the City of San Marcos. D. The Tenant has leased the Property from Owner pursuant to that certain Lease Agreement dated August 17, 1993, and is, by virtue of said Lease Agreement, authorized to make the improvements contemplated by this Agreement and (provided such improvements are made and the requisite new jobs created) entitled to receive the benefits of the tax abatements and fee waivers hereinafter provided. E. The Property is not part of an improvement project financed by tax increment bonds.