Res 2020-179/approving a third amended and restated development agreement in connection with the La Cima development near the intersection of Old Rand Road 12 and Wonder World Drive

Home Browse Search

enforcement of deed restrictions required under this Agreement. The homeowner's association shall be created and deed restrictions recorded before commencement of any development on all or any portion of the Property. The deed restrictions shall be submitted to the City for review to determine consistency with this Agreement before recording. The homeowner's association shall be duly authorized, under applicable laws, to enforce the deed restrictions against all owners and developers of land within the Property. Any deed restrictions, and amendments thereto, regulating development of the Property shall be recorded in the Official Public Records of Hays County, Texas. Any deed restrictions regulating development of the Property, and any amendments thereto, shall be subject to this Agreement. Such deed restrictions shall further include a statement that they are subject to this Agreement and that, in the event of a conflict between the deed restrictions and this Agreement, this Agreement shall govern. SECTION 2: MISCELLANEOUS PROVISIONS 2.01 Term A. This Agreement shall commence and bind the Parties on the Effective Date and continue until all of the Property has been annexed for full purposes by the City (the "Term"), unless sooner terminated as provided in Section 2.01.0 below. If, however, no progress toward completion of the Project, as defined under Section 245.005 of the Texas Local Government Code, is made within five (5) years of the date of this Agreement, this Agreement shall expire and Owner hereby agrees that any development of the Property shall comply with the ordinances in effect at the time the first plat application for any portion of the property is filed. This written Agreement may be extended for additional terms as allowed by law upon mutual written agreement of the parties. B. After the expiration or termination of this Agreement, this Agreement will be of no further force and effect. C. This Agreement may be terminated or amended as to all or any portion of the Property at any time by mutual written agreement between the City and Owner. D. The Parties acknowledge that Owner does not own the Additional Property as of the Effective Date. The Parties hereby agree that the Additional Property shall be included in the Property, and shall be subject to the terms, conditions, obligations, entitlements and benefits of this Development Agreement, subject to the condition precedent that the Owner acquires the Additional Property on or before June 30, 2021 and provides the City with written notice of such acquisition on or before June 30, 2021. If the Owner fails to provide the City written notice that the Owner has acquired the Additional Property on or before June 30, 2021, then this Agreement shall be considered automatically amended with no further action required by the Parties to: a. Exclude the Additional Property from this Agreement and the Conceptual Land Use Plan for all purposes with the effect that the Additional Property shall not be subject to the terms, conditions, obligations, entitlements and benefits of this Development Agreement. The gross area of the Property shall then be lowered to 2,427.996 acres. b. Adjust the overall project density in Section 1.04(B) from 1.10 units per acre to 1.15 units per acre. c. Adjust the calculation of the Permitted Maximum Allowable Property Impervious Cover for purposes of Section 1.06 to equal 20% of the 2,427..996 acres of the gross area of the Property.. a]