|
20040803 AGREEMENT Total Pages: 50
<br />Filed and Recorded: 9/17/20 9:51 AM
<br />STATE OF TEXAS §
<br />COUNTY OF HAYS §
<br />DEVELOPMENT AGREEMENT
<br />LA CIMA SAN MARCOS
<br />This THIRD AMENDED AND RESTATED DEVELOPMENT AGREEMENT (this "Agreement") is made
<br />and entered into as of the day of 2020 (the "Effective Date"), by and between the CITY
<br />OF SAN MARCOS, TEXAS, a Texas municipal corporation (the "City"), Hays County, Texas (the
<br />"County"), and LAZY OAKS RANCH, LP, a Texas Limited Partnership ("LOR"), LCSM Ph. 1-1, LLC, a
<br />Texas limited liability company as partial assignee of LOR ("LCSM Ph.14"), LCSM Ph. 1-2, LLC, a Texas
<br />limited liability company as partial assignee of LOR ("LCSM Ph.1-2"), LCSM Ph. 2, LLC, a Texas limited
<br />liability company as partial assignee of LOR ("LCSM Ph. 2"), LCSM Ph. 3, LLC, a Texas limited liability
<br />company as partial assignee of LOR ("LCSM Ph. 3"), La Cima Commercial, LP a Texas partnership as a
<br />partial assignee of LOR ("La Cima Commercial"), LCSM WW, LLC, a Texas limited liability company as
<br />a partial assignee of LOR ("LCSM WW"), and LCSM West, LP, a Texas limited partnership ("LCSM
<br />West" and, together with LOR, LCSM Ph.1-1, LCSM Ph. 1-2, LCSM Ph. 2, LCSM Ph. 3, La Cima
<br />Commercial, and LCSM WW, the "Owner"). The City and Owner are sometimes hereinafter referred to
<br />individually as "Party", and collectively as the "Parties". The Parties agree as follows:
<br />PURPOSES AND CONSIDERATIONS
<br />WHEREAS, the City and LOR entered into that certain Second Amended and Restated Development
<br />Agreement dated May 22, 2018, approved by Resolution 2018-75R and recorded under Document
<br />Number 18018461 in the Official Public Records of Hays County, Texas (the "Existing Development
<br />Agreement"), related to that certain 2,422.996 acre, more or less, parcel of land ("the "Existing Property")
<br />located in the Extraterritorial Jurisdiction ("ETJ") of the City„ Hays County, Texas, and more particularly
<br />described in Exhibit "A", Exhibit "A-1", Exhibit "A-2", and Exhibit "A-3" attached hereto and
<br />incorporated herein for all purposes (with the land in Exhibit °"A-1" and Exhibit "A-2" collectively, the "La
<br />Cima Outparcels");
<br />WHEREAS, Owner owns that certain 5 acre tract described as the "Save and Except: Tract 1: 5 Acres"
<br />described on pages 2 3 of Exhibit "A" to the Development Agreement ("Save and Except Tract 1") and
<br />desires to add such Save and Except Tract 1 to this Development Agreement;
<br />WHEREAS, Owner intends to acquire an adjoining 101.66 acre, more or less, parcel of land located in
<br />the ETJ of the City, Hays County, Texas, and more particularly described in Exhibit "A-4" attached and
<br />incorporated herein for all purposes (the "Additional 101 Acre Tract"), and an adjoining 22.723 acre, more
<br />or less, parcel of land located in the ETJ of the City, Hays County, Texas, and more particularly described
<br />in Exhibit "A-4" attached and incorporated herein for all purposes (the "Additional 22 Acre Tract' and,
<br />together with the Additional 101 Acre Tract, the "Additional Property");
<br />WHEREAS, Owner desires to develop the Existing Property, the Save and Except Tract 1 and the
<br />Additional Property (collectively, the "Properly") totaling 2,552.379 acres of land as a single family
<br />residential, limited nonresidential and conservation, preservation and open space development generally
<br />to foster a walkable and bikeable community in accordance with the Conceptual Land Use Plan, as
<br />more particularly described in Exhibit "B" attached hereto and incorporated herein for all purposes and
<br />under the name La Cima San Marcos (the "Project");
<br />WHEREAS, the Property is appraised for ad valorem tax purposes as land for agricultural or wildlife
<br />management use or timber land under Chapter 23, Texas Tax Code;
<br />WHEREAS, the City is authorized by Section 43.035 of the Texas Local Government Code to offer to
<br />make a development agreement with the owner of land appraised for such purposes pursuant to Section
<br />212.172 of the Texas Local Government Code to defer the annexation of the property until the land owner
<br />files a subdivision plat or other development application for any portion of the property;
<br />WHEREAS, by entering into this Agreement, Owner has accepted the City's offer to enter into a
<br />
|