Common use of Purpose; Consideration Clause in Contracts

Purpose; Consideration. (a) The Developer owns that certain 8.804-acre tract located in Travis County, Texas, being more particularly described in Exhibit A attached hereto and incorporated herein for all purposes (the “Property”) and wishes to develop the Property for MiniMax #11 (the “Development”). The Developer desires that the City allow for the placement and installation of a Travel Center Sign more particularly described in Exhibit B attached hereto and incorporated herein for all purposes (the “Electronic Sign”) on the Property in accordance with the development standards set forth herein regarding the Electronic Sign and for the City to be able to enforce the development standards set forth herein through its sign permit and inspection processes by this Agreement. (b) The Developer will benefit from the placement and installation of the Electronic Sign for the Development; and the City enforcing the development standards as set forth herein. The City will benefit from this Agreement by having assurance regarding certain development standards for the Electronic Sign being placed and installed as part of the Development, having certainty that such development standards may be enforced by the City, and preservation of property values within the City. (c) The benefits to the Parties set forth in this Section 1, plus the mutual promises expressed herein, are good and valuable consideration for this Agreement, the sufficiency of which is hereby acknowledged by both Parties.

Purpose; Consideration. (a) The Developer owns that certain 8.804-0.610 acre tract located in Travis County, Texas, being more particularly described in Exhibit A attached hereto and incorporated herein for all purposes (the “Property”) and wishes to develop the Property for MiniMax #11 the EXXON PRICE SIGN (the “Development”). The Developer desires that the City allow for the placement and installation of a Travel Center Sign an EXXON PRICE SIGN more particularly described in Exhibit B attached hereto and incorporated herein for all purposes (the “Electronic Sign”) on the Property in accordance with the development standards set forth herein regarding the Electronic Sign and for the City to be able to enforce the development standards set forth herein through its sign permit and inspection processes by this Agreement. (b) The Developer will benefit from the placement and installation of the Electronic Sign for the Development; and the City enforcing the development standards as set forth herein. The City will benefit from this Agreement by having assurance regarding certain development standards for the Electronic Sign being placed and installed as part of the Development, having certainty that such development standards may be enforced by the City, and preservation of property values within the City. (c) The benefits to the Parties set forth in this Section 1, plus the mutual promises expressed herein, are good and valuable consideration for this Agreement, the sufficiency of which is hereby acknowledged by both Parties.