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Res 2018-199/approving a First Amended and Restated Development Agreement with LaSalle Holdings, LTD. in connection with the development generally located north of Yarrington Road, east of Interstate 35 and west of State Highway 21 that, among other thin
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Res 2018-199/approving a First Amended and Restated Development Agreement with LaSalle Holdings, LTD. in connection with the development generally located north of Yarrington Road, east of Interstate 35 and west of State Highway 21 that, among other thin
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2/7/2020 10:08:02 AM
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10/23/2018 3:07:42 PM
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Resolutions
City Clerk - Type
Agreement
Number
2018-199
Date
10/16/2018
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permitted in SmartCode, changes in roadway alignments more than what is <br />necessary to accommodate tree preservation or the protection of KARST <br />features and a change in the base zoning. All other changes shall be considered <br />Minor. <br />2.05 Recordation <br />Pursuant to the requirements of Section 212.172(f), Texas Local Government <br />Code, this Agreement shall be recorded in the official public records of Hays <br />County, Texas. The terms of this Agreement shall be binding upon: (a) the Parties; <br />(b) the Parties' successors and assigns; (c) the Property; and (d) future owners of <br />all or any portion of the Property. <br />Owners agree that all restrictive covenants for the Project shall reinforce this <br />Agreement and shall not be inconsistent with the requirements herein. Ownerss <br />further agree to memorialize the terms of this Agreement through inclusion in the <br />plat notes. The Agreement shall be recorded in the Hays County land records to <br />place subsequent purchasers on notice at Owners' expense and Owners shall <br />provide a copy of all such restrictive covenants to the City prior to filing. <br />2.06 Assignment and Binding Effect Upon Successors <br />Owners hereunder, may assign this Agreement, and the rights and obligations of <br />Owners to a subsequent purchaser of all or a portion of the undeveloped property <br />within the Project provided that the assignee assumes all of the obligations <br />hereunder. Any assignment must be in writing, specifically describe the property in <br />question, set forth the assigned rights and obligations and be executed by the <br />proposed assignee. A copy of the assignment document must be delivered to the <br />City and recorded in the real property records as may be required by applicable <br />law. Upon any such assignment, the assignor will be released of any further <br />obligations under this Agreement as to the property sold and obligations assigned. <br />The provisions of this Agreement will be binding upon, and inure to the benefit of <br />the Parties, and their respective successors and assigns. This Agreement will not, <br />however, be binding upon, or create any encumbrance to title as to, any ultimate <br />consumer who purchases a fully developed and improved lot within the Project. <br />2.07 Cooperation <br />The City and Owners each agree to execute such further documents or <br />instruments as may be necessary to evidence their agreements hereunder. <br />The City acknowledges that the District(s) may in the future seek State or federal <br />grant matching funds to finance certain Public Park, recreational and <br />11 <br />
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