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1.08 Annexation <br />After 25 years, of the effective date of this agreement, the city shall have the right <br />to annex any of the Districts if all supporting infrastructure has been completed to <br />serve the developable acreage being annexed and <br />1 Owners have been reimbursed for the facilities serving the developable acreage <br />within the district that is subject to annexation in accordance with rules and <br />standards of TCEQ or successor agency and Office of the Attorney General; <br />and/or <br />2. The City assumes all obligations, debts and liabilities of the district as provided <br />by Chapter 43 of the Texas Local Government Code. <br />Upon review and satisfaction of these conditions to annexation, the City may, but <br />will not be required to, annex that District. The City agrees that the submission of <br />a request for annexation will not be required in connection with the subdivision of <br />any property located within a District. <br />Notwithstanding the annexation status of any portion of the property, all phases of <br />the development shall have physical addresses assigned by the City of San <br />Marcos, if allowed by the United States Postal Service. Additionally, all project <br />branding and marketing efforts shall reference and acknowledge the location of the <br />project within the City of San Marcos or the City of San Marcos Extraterritorial <br />Jurisdiction. <br />Contemporaneously with the annexation of land located within a District, the City <br />will zone any undeveloped property within that District consistently with the land <br />uses shown on the Conceptual Land Use Plan and/or the Regulating Plan, and will <br />zone all developed property consistently with the land uses in existence on the <br />date of the annexation. <br />Notwithstanding the City's agreement to delay annexation of the District <br />hereinabove, the City may annex any District if the City's consent is withdrawn <br />pursuant to Section 2.04 of the Consent Agreement or the District is dissolved. <br />1.09 Parkland and Open Space Dedication <br />Owners agree to prepare a Master Parks & Open Space Plan ("MP & OS Plan") <br />that is consistent with the Regulating Plan, governing all parkland and open space <br />within the Project. Owners shall submit to the City a MP & OS Plan within 12 <br />months of developing and adopting a Regulating Plan. <br />1.10 Creation of Homeowner's Association <br />7 <br />