Ord 1988-080 - Laserfiche WebLink

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City agrees that no new or additional conditions to its consent to creation of the District may be imposed as a part of the approval provided in this Article Nine. The purchaser of an undeveloped tract of land within the District shall agree to accept an assignment of rights and obligations of this Amended Agreement with respect to the tract being purchased. The seller shall agree to make such an assignment. LRL is specifically authorized to partially assign this Amended Agreement to the District upon its creation; provided, however, that such assignment shall not relieve the LRL, or its successors or assigns, from the obligation to comply with the provisions herein. ARTICLE TEN TERM OF AMENDED AGREEMENT This Amended Agreement shall be effective from the effective date hereof and shall continue in effect for a period of forty (40) years from such date, or until the District is annexed by the City, whichever occurs first, renewable so long as District Bonds remain outstanding. If the District is not created within eighteen (18) months of July 25, 1988, this Amended Agreement shall be of no force and effect unless all parties agree to an extension hereof. LRL agrees to use its best efforts to secure the adoption by the permanent Board of Directors of this Amended Agreement prior to the issuance of District Bonds. In the event the permanent Board of Directors fails to timely ratify, adopt and approve this Amended Agreement, the City's consent to the creation of Lowman Ranch Municipal utility District shall be null and void and this Amended Agreement shall be of no force and effect. ARTICLE ELEVEN JOINT CONTRACTING Except as otherwise provided in sections 4.01, 5.02, and 5.03 of this Amended Agreement, the District shall be and is hereby authorized to contract with any individual, entity, governmental authority, or political subdivision for the acquisition, operation, and maintenance of water, -18-