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STATE OF TEXAS § <br />COUNTY OF HAYS § <br />FIRST AMENDED AND RESTATED <br />DEVELOPMENT AGREEMENT <br />This FIRST AMENDED AND RESTATED DEVELOPMENT AGREEMENT (this <br />"Agreement") is made and entered into as of the 16th day of October, 2018 (the <br />"Effective Date"), by and between the CITY OF SAN MARCOS, TEXAS, a Texas home - <br />rule municipal corporation (the "City") and LASALLE HOLDINGS, LTD and TACK <br />DEVELOPMENT LP ("Owners"). The City and Owners 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, Owners currently own approximately 1,747.480 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, Owners have 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, Owners desire 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 existed on the <br />effective date of the Original Development Agreement dated October 6th, 2014, and <br />generally in accordance with the Conceptual Land Use Plan, as more particularly <br />described in Exhibit "B" attached hereto; and <br />WHEREAS, FM 158 Land LTD, Kyle Three Partners LLC and Cedar Stump Limited <br />have each opted out of the original Development Agreement that was entered into on <br />October 6, 2014 ("Original Development Agreement"); and <br />WHEREAS, on or about March 2, 2018, LaSalle Holdings, LTD sold to TACK <br />Development, LP approximately 257 acres of land from the Property and assigned <br />rights to the Original Development Agreement dated October 6, 2014 as it relates to the <br />approximate 257 acres; and <br />WHEREAS, Owners wish to conduct or have conducted temporary industrial activities <br />