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<br /> 87 <br /> TEXAS DEPARTMENT OF COMMERCE <br /> CONTRACT FOR <br /> COMMUNITY AND ECONOMIC DEVELOPMENT PROGRAMS <br />STATE OF TEXAS ] <br />COUNTY OF TRAVIS ] <br />SECTION 1. PARTIES TO CONTRACT <br />This contract and agreement is made and entered into by and between the Texas <br />Department of Commerce, an agency of the State of Texas, hereinafter referred <br />to as "Department", and the City of San Marcos, hereinafter referred to as <br />"Contractor". The parties hereto have severally and collectively agreed and <br />by the execution hereof are bound to the mutual obligations and to the <br />performance and accomplishment of the tasks described herein. <br />SECTION 2. CONTRACT PERIOD <br />This contract and agreement shall commence on December 15, 1988, and shall <br />terminate on December 14, 1990, unless otherwise specifically provided by the <br />terms of this contract. <br />SECTION 3. CONTRACTOR PERFORMANCE <br />Contractor shall conduct, in a satisfactory manner as determined by <br />Department, an economic development program in a nonentitlement area under <br />Title I of the Housing and Community Development Act of 1974, as amended (42 <br />U.S.C. Sec. 5301 et ~.), hereinafter referred to as the Act. Contractor <br />shall perform all activities in accordance with the terms of the Performance <br />Statement, hereinafter referred to as Exhibit A; the Budget, hereinafter <br />referred to as Exhibit B; the Project Implementation Schedule, hereinafter <br />referred to as Exhibit C; the Applicable Laws and Regulations, hereinafter <br />referred to as Exhibit D; the Certifications, hereinafter referred to as <br />Exhibit E; the assurances, certifications, and all other statements made by <br />Contractor in its application for the project funded under this contract; and <br />with all other terms, provisions, and requirements set forth in this contract. <br />SECTION 4. DEPARTMENT OBLIGATIONS <br />A. Measure of Liability <br />In consideration of full and satisfactory performance of the activities <br />referred to in Section 3 of this contract, Department shall be liable for <br />actual and reasonable costs incurred by Contractor during the contract period <br />for performances rendered under this contract by Contractor, subject to the <br />limitations set forth in this Section 4. <br /> Page 1 of 14 Pages <br />