Res 2013-096/Approving an Agreement of Sale with the Trust for Public Land for the city to purchase 93 acres of land for the expansion of Purgatory Creek

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to provide an additional $580,810.00 in in -kind donations, by making a land value donation in the amount of $580,810.00 in the following manner. The City acquired real property adjacent to the Property in January, 2012 and identified as "Tract A" on Exhibit A. The City agrees to provide an in -kind donation of land value in the amount of $580,810.00 by, at Closing, causing the Tract A Restrictions (as defined below) to be recorded on a portion of Tract A, exclusive of the + 30 -acre portion of Tract A previously identified as critical habitat for the Golden - cheeked warbler generally identified on Exhibit C attached hereto and made a part hereof (the "Golden - Cheeked Warbler Habitat Acreage "). The portion of Tract A to be encumbered by the Tract A Restrictions is referred to herein as the Restricted Portion of Tract A. For purposes of this Agreement, the Restricted Portion of Tract A will be equal to so much of Tract A (exclusive of the Golden - Cheeked Warbler Habitat Acreage) with a value of $580,810.00, as determined by Graham & Associates, Inc., taking into consideration any assumptions required by FWS. For purposes of this Agreement, the "Tract A Restrictions" are: (1) the restriction substantively in the form attached hereto as Exhibit D and made a part hereof, but modified so that it is a stand -alone document as the deed to Tract A has already been granted to the City and conformed for the particulars of this transaction, and (2) the Notice of Restrictions in substantially the form attached hereto as Exhibit E and made a part hereof, conformed for the particulars of this transaction. (b) The City agrees to accept a deed to the Property with the restrictions in substantially the form attached as Exhibit D conformed for the particulars of this transaction and agrees, as a part of Closing, to cause Escrow Holder to record a Notice of Restrictions in substantially the form attached as Exhibit E conformed for the particulars of this transaction, immediately following recordation of the deed to the Property to the City. (c) The City enters into an inter -local agreement with TPWD in substantially the form attached hereto as Exhibit F and made a part hereof revised as needed for land acquisition and the particulars of the Section 6 Funding. Based on the fair market value of the Property determined by Graham & Associates, Inc., The Trust for Public Land believes that the Purchase Price set forth in Section 1 reflects a land value donation of at least $148,791.00. The City understands and agrees to the conditions as set forth in Section 30(a) as it relates to the City's in -kind donation by placing the Tract A Restrictions on the Restricted Portion of Tract A, Section 30(b) and Section 30(c) above, and further agrees that it will make all reasonable efforts to cooperate with FWS and TPWD so that the Section 6 Funding can be expeditiously processed and made available for the transaction contemplated herein. The City understands that TPL is acting in reliance of this Agreement, including without limitation this Section 30, subject to the contingency set forth in Section 27(b) of this Agreement. Agrmt of Sale City of San Marcos -Barker Tract B -1 (4- 24- 13).doc IN