Res 2014-144/Lasalle request for a development agreement

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Upon review and satisfaction of these conditions to annexation, the City may, but will not be required to, annex that District. The City agrees that the submission of a request for annexation will not be required in connection with the subdivision of any property located within a District. Notwithstanding the annexation status of any portion of the property, all phases of the development shall have physical addresses assigned by the City of San Marcos, if allowed by the United States Postal Service. Additionally, all project branding and marketing efforts shall reference and acknowledge the location of the project within the City of San Marcos or the City of San Marcos Extraterritorial Jurisdiction. Contemporaneously with the annexation of land located within a District, the City will zone any undeveloped property within that District consistently with the land uses shown on the Conceptual Land Use Plan and /or the Regulating Plan, and will zone all developed property consistently with the land uses in existence on the date of the annexation. Notwithstanding the City's agreement to delay annexation of the District hereinabove, the City may annex any District if the City's consent is withdrawn pursuant to Section 2.04 of the Consent Agreement or the District is dissolved. 1.09 Parkland and Open Space Dedication Owner agrees to prepare a Master Parks & Open Space Plan ( "MP & OS Plan ") that is consistent with the Regulating Plan, governing all parkland and open space within the Project. Owner shall submit to the City a MP & OS Plan within 12 months of developing and adopting a Regulating Plan. 1.10 Creation of Homeowner's Association Owner will include in the Regulating Plan provisions for establishing one or more Homeowners Association(s) (HOA) or other entity or entities as may be necessary and convenient for the Project. SECTION 2: MISCELLANEOUS PROVISIONS 2.01 Term The term of this Agreement will commence on the Effective Date and continue for fifteen (15) years thereafter ( "Initial Term "), unless sooner terminated under this Agreement. After the Initial Term, the Agreement may be extended for another fifteen (15) year period by Owner, with City's approval, by delivering written notice of such election to the City on or before the expiration of the then - current term. 7