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**AGREEMENT      OF SALE AND PURCHASE**

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| (i)  | execute                and deliver to Purchaser a special warranty deed in the form of                Exhibit                “L”                attached hereto and incorporated herein by reference with a description                of                the Property attached thereto as Exhibit                “A”                and a list of the Permitted Exceptions attached thereto as Exhibit                “B”                (the “Deed”); |
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| (ii)  | execute                and deliver to Purchaser a bill of sale and assignment in the form                of                Exhibit                “M”                attached hereto and incorporated herein by reference (the “Bill of Sale                and Assignment”); |
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| (iii)  | execute                and deliver to Purchaser two (2) counterpart originals of each of                the                three (3) Option Agreements; |
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| (iv)  | execute                and deliver to Purchaser two (2) counterpart originals of the Memorandum                of Options; |
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| (v)  | execute                and deliver to Purchaser two (2) counterpart originals of the Memorandum                of Rialto Blvd. Cost Reimbursement                Agreement; |
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| (vi)  | cause                Stratus Properties Inc. to execute and deliver to Purchaser an original                counterpart of the AMD/Stratus Community Trust Agreement, as provided                by                Section 8.03; |
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| (vii)  | deliver                to Purchaser physical possession of the                Property; |
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| (viii)  | deliver                evidence of Seller’s authority to act hereunder in form reasonably                satisfactory to Purchaser and the Title Company;                and |
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| (ix)  | execute                and deliver to Purchaser a “non-foreign” certificate sufficient to                establish that withholding of tax is not required in connection with                this                transaction. |
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| (i)  | deliver                the Purchase Price and the Lantana Community Contribution to the                Title                Company for disbursement in accordance with the terms and provisions                of                this Agreement; |
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| (ii)  | execute                and deliver the Deed; |
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| (iii)  | execute                and deliver to Seller two (2) counterpart originals of the                Assignment; |
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| (iv)  | execute                and deliver to Seller two (2) counterpart originals of each of the                three                (3) Option Agreements; |
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| (v)  | execute                and deliver to Seller two (2) counterpart originals of the Memorandum                of                Options; |
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| (vi)  | execute                and deliver to Seller two (2) counterpart originals of the Memorandum                of                Rialto Blvd. Cost Reimbursement Agreement; |
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| (vii)  | cause                Advanced Micro Devices, Inc. to execute and deliver to Seller an                original                of the AMD/Stratus Community Trust Agreement, as provided by                Section 8.03; and |
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| (viii)  | deliver                such evidence of Purchaser’s authority to act hereunder as Seller and the                Title Company may reasonably require for                Closing. |
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| (i)  | There                are no outstanding leases, options to purchase, rights of first refusal,                letters of intent or rental agreements with respect to any of the                Property. |
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| (ii)  | The                person or persons executing this Agreement on behalf of Seller have                full                power and authority to execute this Agreement, and to bind Seller                to the                terms hereof. |
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| (iii)  | Seller,                to its knowledge, has complied with all applicable laws, ordinances,                regulations, statutes, rules and restrictions relating to the Property,                or                any part thereof in all material respects and Seller has received                no                written notice of any violation of any applicable zoning regulation,                ordinance, or any other law, covenant, condition, or restriction                relating                to the Property from any governmental agency having jurisdiction                over the                Property, nor does Seller have any knowledge of any such material                violation. |
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| (iv)  | There                are no parties other than Seller who own or hold title to any portion                of                the Property in undivided interests or otherwise, and no person or                entity                other than Purchaser has any right to acquire any interest in any                portion                of the Property. |
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| (v)  | Seller                has no knowledge of any special assessments of a governmental authority                which have been levied against the Property, and no written notice                of any                special assessments of a governmental authority has been received                by                Seller. |
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| (vi)  | No                portion of the Property has been designated or assessed for “agricultural                use” or as “qualified open space land” within the meaning of Article VIII,                Section 1-D or Section 1-D-1 of the Texas Constitution, or the statutes                relating thereto which are codified under the Texas Tax Code, as                amended. |
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| (vii)  | To                Seller’s knowledge, no portion of the Property is currently in violation                of or subject to any existing, pending, or threatened investigation                or                inquiry by any governmental authority or to any remedial obligations                under                any applicable laws pertaining to health or the environment, including,                without limitation: (a) the |
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| (viii)  | To                Seller’s knowledge, there is no asbestos located upon or within any                portion of the Property, no portion of the Property has been used                as a                garbage or refuse dump site, a landfill, a waste disposal facility,                a                transfer station, or any other type of facility for storage, processing,                treatment, or temporary or permanent disposal of waste materials,                including, without limitation, solid, industrial, toxic, hazardous,                radioactive, nuclear or putrescible waste or sewage, and there are                no                underground storage tanks of any kind or nature located within the                Property. |
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| (ix)  | To                Seller’s knowledge, giving effect to the Section 10(a) Permit, development                of the Property is not impacted by any habitat or potential habitat                of any                species of flora or fauna which is protected under any applicable                laws                pertaining to the protection of flora or fauna (including, without                limitation, federal Endangered Species Act) and the anticipated use                of the                Property does not violate any regulations concerning endangered or                threatened species of flora or                fauna. |
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| (x)  | The                “Entitlements” (as defined in Section 8.02) are in full force and effect                without modification and to Seller’s knowledge, the Real Property may be                developed to the extent provided thereby. |
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|   | (xi)                  | No                written notice has been received by Seller from any governmental                agency                asserting the invalidity of the Entitlements or its intention to                take                actions or to initiate proceedings for the termination or modification                thereof. |
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| (i)  | to                terminate this Agreement, whereupon within thirty (30) days after                said                election is made by Purchaser, Seller shall refund and pay to Purchaser                both the Earnest Money, less the Independent Consideration, and the                out of                pocket costs and expenses incurred by Purchaser after the Effective                Date                for third party contractors, consultants and attorneys regarding                the                Property as evidenced by commercially reasonable supporting documentation                provided by Purchaser; and |
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| (ii)  | to                waive the Seller’s failure to cure and proceed to close this transaction                in accordance with the other provisions of this                Agreement. |
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| (i)  | to                terminate this Agreement, whereupon within thirty (30) days after                said                election is made by Purchaser, Seller shall refund and pay to Purchaser                the Earnest Money, less the Independent Consideration, and upon making                said payment to Purchaser, Seller and Purchaser shall be relieved                and                released of all further obligations, claims and liabilities hereunder;                or |
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| (ii)  | to                require Seller and Purchaser to follow the procedure set out in                Section 8.02 |
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** **

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| (i)  | the                Closing Date will be automatically extended for a period of twenty-five                (25) days and, on or before ten (10) days prior to the Closing Date                (as so                extended), Purchaser must elect by written notice to Seller to either                (a)                close the purchase of the Property pursuant to the terms of this                Agreement                on or before the Closing Date (as so extended), (b) terminate this                Agreement, or (c) extend the Closing Date for a period of an additional                three hundred sixty-five (365) days during which time Seller will                continue                to pursue resolution to the Entitlements Challenge. If Purchaser                fails to                make the election pursuant to the immediately preceding sentence,                the                Purchaser will be deemed to have elected to extend the Closing Date                for a                period of an additional three hundred sixty-five (365) days. If Purchaser                timely elects to terminate this Agreement pursuant to the terms hereof                then the Earnest Money shall be returned to Purchaser, except for                $100 of                independent consideration which will be delivered to Seller, and                thereafter neither party shall have any further rights, remedies                or                obligations hereunder, |
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| (ii)  | if                the Closing Date was extended for the period of three hundred sixty-five                (365) days pursuant to subparagraph A above, then (i) in the event                that                the Entitlements are either upheld by the applicable court in their                entirety prior to the Closing Date or the Entitlements Challenge                is                otherwise resolved in a manner that upholds the Entitlements in their                entirety prior to the Closing Date, then Purchaser will close the                purchase                of the Property on the Closing Date; or (ii) in the event that the                Entitlements are either not upheld by the applicable court in their                entirety prior to the Closing Date or the Entitlements Challenge                is not                otherwise resolved in a manner that upholds the Entitlements in their                entirety prior to the Closing Date, then the Closing Date will again                be                automatically extended for a period of twenty-five (25) days and,                on or                before ten (10) days prior to the Closing Date (as so extended),                Purchaser                must elect by written notice to Seller to either (a) close the                purchase of the Property with the Purchase Price reduced to the “Reduced                Purchase Price” (defined below) and the Lantana Community Contribution                reduced to the “Reduced Lantana Community Contribution” (defined below)                and otherwise pursuant to the terms of this Agreement on or before                the                Closing Date (as so extended), or (b) elect to terminate this Agreement.                As used herein, the term “Reduced Purchase Price” shall mean FIFTEEN                MILLION TWO HUNDRED THOUSAND AND NO/100 DOLLARS ($15,200,000.00).                As used                herein, the term “Reduced Lantana Community Contribution” shall mean FOUR                HUNDRED THOUSAND AND NO/100 DOLLARS ($400,000.00). If Purchaser fails                to                deliver written notice of termination to Seller on or before Closing                Date                as so extended, Purchaser will be deemed to have elected to close                the                purchase of the Property on the Closing Date according to this Agreement                by paying the Reduced Purchase Price and Reduced Lantana Community                Contribution. If Purchaser timely elects to terminate this Agreement                pursuant to the terms hereof then the Earnest Money shall be returned                to                Purchaser, except for $100 of independent consideration which will                be                delivered to Seller, and thereafter neither party shall have any                further                rights, remedies or obligations hereunder, except for the Post Termination                Obligations which will survive such termination. |
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| PURCHASER:                             | With                  Copy To:                    |
|---------------------------------------------|---------------------------------------------------|
| Advance                  Micro Devices, Inc | Fulbright                  & Jaworski, L.L.P. |
| Attn:                  Shaun Moore          | Attn:                  Robert G. Converse         |
| 5204                  East Ben White Blvd.  | One                  American Center              |
| M/S                  562                    | 600                  Congress Avenue, Suite 2400  |
| Austin,                  Texas 78741        | Austin,                  Texas 78701              |
| Telephone:                  (512) 602-6533  | Telephone:                  (512) 474 5201        |
| Fax                  No.: (512) 602-4999    | Fax                  No.: (512) 536 4598          |

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| SELLER:                                          | With                  Copy To:                 |
|--------------------------------------------------|------------------------------------------------|
| Stratus                  Properties Inc.         | Armbrust                  & Brown, L.L.P.  |
| Attn:                  William H. Armstrong, III | Attn:                  Kenneth N. Jones        |
| 98                  San Jacinto Blvd., Suite 220 | 100                  Congress Ave., Suite 1300 |
| Austin,                  Texas 78701             | Austin,                  Texas 78701           |
| Telephone:                  (512) 478-5788       | Telephone:                  (512) 435-2312     |
| Fax                  No.: (512) 478-6340         | Fax                  No.: (512) 435-2360       |

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*mutatis mutandis*

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| SELLER:    | STRATUS                PROPERTIES OPERATING CO., L.P.,a                Delaware limited liability partnership By: STRS                L.L.C., a Delaware limited liabilitycompany,                General Partner By: STRATUS                PROPERTIES INC., aDelaware                corporation, Sole Member  |
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|       | By:__________________________      Printed                Name:__________________     Title:_________________________      Date:_________________________                                                              |
|       |                                                                                                                                                                                                                                                                                                                                      |
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| PURCHASER: | ADVANCED                MICRO DEVICES, INC.a                Delaware corporation                                                                                                                                                                                                                                                     |
|       | By:________________________        Printed                Name:________________       Title:_______________________        Date:_______________________                        |
|       |                                                                                                                                                                                                                                                                                                                                      |

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**TITLE      COMPANY RECEIPT**

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**EXHIBIT      “**

**A”**

**LAND**

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**EXHIBIT      “**

**B”**

**PROPERTY      DESCRIPTIONS AND DEFINITIONS**

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**EXHIBIT      “C**

**”**

**OPTION      TRACTS**

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**EXHIBIT      “**

**D-1”      “D-2” and “D-3”**

**OPTION      AGREEMENTS**

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**EXHIBIT      “**

**E”**

**MEMORANDUM      OF OPTIONS**

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**EXHIBIT      “**

**F”**

**SURVEY      CERTIFICATE**

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**EXHIBIT      “**

**G”**

**SECTION      10(a) RESTRICTION**

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**EXHIBIT      “**

**H”**

**CONCEPTUAL      PLAN**

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**EXHIBIT      “I**

**”**

**PRELIMINARY      SITE WORK**

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**EXHIBIT      “J”**

**PRELIMINARY      SITE WORK LICENSE AGREEMENT**

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**EXHIBIT      “K”**

**COVENANTS**

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**EXHIBIT      “**

**l”**

**SPECIAL      WARRANTY DEED**

**TO      HAVE AND TO HOLD**

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**EXHIBIT      “M**

**”**

**BILL      OF SALE AND ASSIGNMENT**

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**EXHIBIT      “N**
**”**

**RIALTO      BLVD. COST REIMBURSEMENT AGREEMENT**

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**EXHIBIT      “O**
**”**

**MEMORANDUM      OF RIALTO BLVD. COST REIMBURSEMENT AGREEMENT**

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**EXHIBIT      “**

**P”**

**ENTITLEMENTS**