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STATE OF TEXAS § DEVELOPMENT AGREEMENT <br />COUNTY OF HAYS § <br />This DEVELOPMENT AGREEMENT (this "Agreement ")is made and entered into as of <br />the 6th day of October , 2014 (the "Effective Date "), by and between <br />the CITY OF SAN MARCOS, TEXAS, a Texas home -rule municipal corporation (the <br />"City ") and LASALLE HOLDINGS, LTD, FM 158 Land LTD, Kyle Three Partners LLC <br />and Cedar Stump Limited ( "Owner "). The City and Owner are sometimes hereinafter <br />referred to individually as "Party ", and collectively as the "Parties ". The Parties agree <br />as follows: <br />PURPOSES AND CONSIDERATIONS <br />WHEREAS, Owner currently owns approximately 2,750 acres, more or less, ( "the <br />Property ") located in the Extraterritorial Jurisdiction ( "ETJ ") of the City, Hays County, <br />Texas, and more particularly described by metes and bounds in Exhibit "A ", which is <br />attached hereto and incorporated herein for all purposes; and <br />WHEREAS, Owner has created over a portion of the property five (5) Municipal Utility <br />Districts known as LaSalle Municipal Utility Districts Nos. 1 -5 (the "District(s) "); and <br />WHEREAS, as a condition of the City's consent to the establishment of the Districts, the <br />Developer is required to enter into a Development Agreement that conforms to the <br />requirements established in the Consent Agreements; and <br />WHEREAS, Owner desires to zone all of the Property as a SmartCode District pursuant <br />to Subpart C of the City of San Marcos Code of Ordinances, as that code exists on the <br />effective date of this Agreement, and generally in accordance with the Conceptual Land <br />Use Plan, as more particularly described in Exhibit "B" attached hereto; and <br />WHEREAS, the City is authorized to make and enter into this Agreement with Owner in <br />accordance with SUBCHAPTER G, CHAPTER 212, LOCAL GOVERNMENT CODE and Chapter 2 <br />of the City's Land Development Code ( "LDC ") and the Consent Agreements, to <br />accomplish the following purposes: <br />A. Extend the City's planning authority in accordance with the Conceptual Land Use <br />Plan and the development regulations contained herein under which certain uses <br />and development of the Property is authorized; and <br />B. Authorize enforcement by the City of municipal land use and development <br />regulations, as required and /or authorized by SmartCode and the LDC, as <br />1 <br />