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CONSENT AGREEMENT <br />THE STATE OF TEXAS § <br />COUNTY OF HAYS § <br />This CONSENT AGREEMENT (this "Agreement") is effective as of January 4, 2022 <br />(the "Effective Date"), and entered into by and between the CITY OF SAN MARCOS, TEXAS, <br />a home -rule municipality (the "City"), and HK BAUGH RANCH, LLC, a Texas limited liability <br />company ("HK Baugh Ranch" or "Owner"). HAYS COUNTY MUNICIPAL UTILITY <br />DISTRICT NO. 8 (the "District") shall join in this Agreement upon its creation and be bound by <br />certain of the provisions as identified herein. <br />RECITALS <br />A. Owner owns approximately 567.663 acres of land located in the extraterritorial jurisdiction <br />of the City described by metes and bounds on Exhibit A (the "Land" or the "Property") attached <br />hereto and incorporated herein. <br />B. Owner desires to have the City consent to the creation of a municipal utility district over <br />the Land, and the City has determined, pursuant to the terms of this Agreement, to consent to the <br />creation of the District, finding extraordinary public benefits and that the applicable conditions <br />and criteria for the City's consent to creation of the District set forth in Chapter 70 of the City's <br />Code of Ordinances (the "City Code") have been satisfied. <br />NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of <br />which are hereby acknowledged, including the agreements set forth below, the Parties agree as <br />follows: <br />ARTICLE I. <br />DEFINITIONS <br />Section 1.01 Definitions. In addition to terms defined elsewhere in this Agreement, each of the <br />following terms shall have the meanings set forth below: <br />"Commission" means the Texas Commission on Environmental Quality or its successor agency. <br />"Developer" means HK Real Estate Development, LLC, a Texas limited liability company. <br />"Development Agreement" means that certain Development Agreement to be entered into <br />between Owner, HK Riley's Pointe, LLC, Benchmark Acquisitions, LLC, Developer, and the City <br />concerning the development of the Property and related matters. <br />"Parties" and "Party" means collectively and individually, as the context requires, each of the <br />City, Owner, and, upon execution of a joinder to this Agreement, the District. <br />960913_4 <br />