ECONOMIC DEVELOPMENT PERFORMANCE AGREEMENTEconomic Development Performance Agreement • October 3rd, 2022 • Texas
This Performance Agreement (“Agreement”) is entered into to be effective as of the Effective Date (as defined in Article III below), by and between the Seabrook Economic Development Corporation, located in Harris County, Texas (hereinafter called “SEDC”), a Texas non-profit industrial development corporation under the Development Corporation Act, governed by TEX. LOC. GOV. CODE chapters 501, 502 and 505 and the Texas Non-Profit Corporation Act; and Fay and Fay Properties, LLP, (Albert Bel Fay, Jr., Managing Partner), member of Fay & Fay GP, LLC, General Partner of Fay & Fay, LTD, a Texas limited partnership, f/k/a Fay & Fay, Inc, a Texas corporation, Seabrook Marina, Inc doing business herein as Regatta Inn Restaurant Seabrook, doing business at 1900 Shipyard Drive in Seabrook Marina, Seabrook, Texas 77586, (hereinafter called “Business”), otherwise collectively known as the “Parties” to this Agreement.