Laserfiche WebLink
Owners will include in the Regulating Plan provisions for establishing one or more <br />Homeowners Association(s) (HOA) or other entity or entities as may be necessary <br />and convenient for the Project. <br />1.11 Temporary Industrial Activity <br />Owners may conduct temporary industrial activities on the property as necessary <br />or desired to extract, process, sell and/or manufacture minerals and mineral <br />products on the Property, provided that such operations are conducted in <br />compliance with State of Texas permits, regulations and/or standards. The <br />temporary industrial activity shall cease when residential development, as that term <br />is defined in the relevant Regulating Plan, occurs within 1,000 feet of the industrial <br />activity. <br />SECTION 2: MISCELLANEOUS PROVISIONS <br />2.01 Term <br />The term of this Agreement will commence on the Effective Date and continue for <br />fifteen (15) years thereafter ("Initial Term"), unless sooner terminated under this <br />Agreement. After the Initial Term, the Agreement may be extended for another <br />fifteen (15) year period by Owners, with City's approval, by delivering written notice <br />of such election to the City on or before the expiration of the then -current term. <br />Following expiration of the second 15 year term, the Agreement may be extended <br />for up to three successive five (5) year periods by Owners, with City's approval, by <br />delivering written notice of such election to the City on or before the expiration of <br />the then -current term. <br />This Agreement will terminate if the Consent Agreement for the MUD creation <br />expires or the MUD is dissolved. <br />2.02 Enforcement and Default and Remedies for Default <br />The Parties agree that the City shall be entitled to enforce SmartCode as <br />SmartCode exists on the effective date of this Agreement, as modified by the <br />Regulating Plan or Plans adopted pursuant to the Original Development <br />Agreement dated October 6t", 2014. If either Party defaults in its obligations under <br />this Agreement, the other Party must, prior to exercising a remedy available to that <br />Party due to the default, give written notice to the defaulting Party, specifying the <br />nature of the alleged default and the manner in which it can be satisfactorily cured, <br />and extend to the defaulting Party at least thirty (30) days from receipt of the notice <br />to cure the default. If the nature of the default is such that it cannot reasonably be <br />H., <br />