Res 2016-164/approving a Development Agreement between the City and Walton Texas LP, Walton Silver Crossing LP, Walton TX Austin Land LP, Walton TX Martindale LP, and Walton Texas Martindale LP 2 for approximately 2,358 acres out of the William Pettus Le

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ARTICLE III GOVERNING REGULATIONS Section 3.01 Governing Development Regulations. A. Development of the Property shall be governed by the following: 1. The Concept Plan attached as Exhibit B; 2. Subdivision Concept Plats, as required by the City Code, and more particularly described in Article IV within this document; 3. All applicable provisions of the City Codes in effect on the Vesting Date, except as modified by this Agreement(including exhibits hereto); 4. The applicable provisions of the Development Regulations of Caldwell County as modified by the Interlocal Agreement between the City and County and the County Subdivision Agreement in effect on the Vesting Date; 5. Construction plans and plats for all or any portion of the Property that are approved from time to time by the City (collectively, the "Approved Plats"); and 6. Applicable provisions of the Texas Local Government Code, and other state and federal laws ("Other Laws"). 7. In the event of a conflict between the City's and/or County's development regulations and the Owner's rights under this Agreement, this Agreement shall control. ARTICLE IV SUB-DISTRICTS AND PLATTING Section 4.01 Sub-Districts. City and Owner agree that Cotton Center shall be developed in Sub-Districts. Exhibit B-1 Illustrates anticipated future Sub-Districts. Sub-Districts may be developed in any order or concurrently. Notwithstanding the applicable requirements of Concept Platting in the City Code and Section 15.01b. of this Agreement, the Owner retains the right to deviate from "Exhibit B-1 Sub-Districts" with respect to the size, quantity, and location of Sub-Districts, as well as the proposed land-uses within Sub-Districts, at the time of Subdivision Concept Plat. The City acknowledges that the portions of the Property not under active development may remain in use for agricultural or ranching purposes and/or wildlife management. Section 4.02 Planning Areas and Land Uses. Exhibit B illustrates the permitted land uses of the Planning Areas. Notwithstanding the applicable requirements of Concept Platting in the City Code and Section 16.01 b. of this Agreement, the Owner retains the right to deviate from"Exhibit B—Concept Plan"with respect to the size, quantity, and location of Planning Areas, as well as the proposed land-uses of Planning Areas at the time of Subdivision Concept Plat. The Zoning Districts within each Land Use District in Cotton Center will be in accordance with the menu of Districts permitted in the Corresponding Permitted Zoning Districts per Table "1" -low. 10