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<br />14032062 OFT 5057 110
<br />STATE OF TEXAS § DEVELOPMENT AGREEMENT
<br />COUNTY OF HAYS § LA CIMA SAN MARCOS
<br />This AMENDED AND RESTATED DEVELOPMENT AGREEMENT (this "Agreement ") is made and entered into as of the
<br />day of September, 2014 (the "Effective Date "), by and between the CITY OF SAN MARCOS, TEXAS, a Texas
<br />municipal corporation (the "City "), Hays County, Texas (the "County "), and LAZY OAKS RANCH, LP, a Texas Limited
<br />Partnership dba La Cima San Marcos ( "LOR" or the "Owner "). The City and Owner are sometimes hereinafter referred to
<br />individually as "Party ", and collectively as the "Parties ". The Parties agree as follows:
<br />PURPOSES AND CONSIDERATIONS
<br />WHEREAS, the City and Owner entered into that certain Development Agreement dated February 5, 2013, approved by
<br />Resolution 2013 -18R and recorded under Document Number 2013 - 13005585 in the Official Public Records of Hays
<br />County, Texas (the "Existing Development Agreement "), related to that certain 1,396.90 acre, more or less, parcel of land
<br />( "the "Existing Property ") located in the Extraterritorial Jurisdiction ( "ETJ ") of the City, Hays County, Texas, and more
<br />particularly described in Exhibit "A" attached hereto and incorporated herein for all purposes;
<br />WHEREAS, Owner has acquired an adjoining 634.59 acre, more or less, parcel of land (the "Additional Property ") located
<br />in the ETJ of the City, Hays County, Texas, and more particularly described in Exhibit "B" attached and incorporated
<br />herein for all purposes;
<br />WHEREAS, Owner has acquired an adjoining 23.823 acre, more or less, parcel of land located in the ETJ of the City,
<br />Hays County, Texas, and more particularly described in Exhibit "C" (the "Received Exchange Property ") in exchange for
<br />the transfer of a 23.823 acre parcel and a 2.467 acre parcel out of the Existing Property as more particularly described in
<br />Exhibit "D" (the "Transferred Exchange Property');
<br />WHEREAS, Owner desires to develop the Existing Property (save and except for the Transferred Exchange Property), the
<br />Received Exchange Property, and the Additional Property (collectively, the "Property ") totaling 2,029.023 acres of land as
<br />a single family residential, limited nonresidential and conservation, preservation and open space development generally to
<br />foster a walkable and bikeable community in accordance with the Conceptual Land Use Plan, as more particularly
<br />described in Exhibit "E" attached hereto and incorporated herein for all purposes and under the name La Cima San
<br />Marcos (the "Project ");
<br />WHEREAS, the Property is appraised for ad valorem tax purposes as land for agricultural or wildlife management use or
<br />timber land under Chapter 23, Texas Tax Code;
<br />WHEREAS, the City is authorized by Section 43.035 of the Texas Local Government Code to offer to make a
<br />development agreement with the owner of land appraised for such purposes pursuant to Section 212.172 of the Texas
<br />Local Government Code to defer the annexation of the property until the land owner files a subdivision plat or other
<br />development application for any portion of the property;
<br />WHEREAS, by entering into this Agreement, Owner has accepted the City's offer to enter into a development agreement
<br />pursuant to both Section 43.035 and Section 212.172 of the Texas Local Government Code with the mutual
<br />understanding that this Agreement shall constitute a permit for the purposes of Chapter 245 of the Texas Local
<br />Government Code;
<br />WHEREAS, an area adjacent or contiguous to an area that is subject of development agreement entered into under
<br />Section 43.035 and Section 212.172 of the Texas Local Government Code is considered to be adjacent or contiguous to
<br />the municipality; and
<br />WHEREAS, the City is authorized to amend the Existing Development Agreement and to make and enter into this
<br />Agreement with Owner in accordance with Subchapter G, Chapter 212, Local Government Code and Chapters 1 and 2 of
<br />the City's Land Development Code ( "LDC "), to accomplish the following purposes:
<br />A. Extend the City's planning authority in accordance with the Conceptual Land Use Plan and the development
<br />regulations contained herein under which certain uses and development of the Property is authorized; and
<br />B. Authorize enforcement by the City of municipal land use and development regulations as applicable; and
<br />C. Authorize enforcement by the City of land use and development regulations other than those that apply within the
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