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STATE <2FTEXAS §
<br />COUNTY OF HAYS §
<br />21065547 AGREEMENT Tota/ Pages: 57
<br />Filed and Recorded: 11/30/21 2:41 PM
<br />DEVELOPMENT AGREEMENT
<br />LA CIMASAN MARCOS
<br />This FIFTH AMEN����E�/��EME���^�����n�ea�
<br />entered into as of the ����rday of 2021 (the "Effective Dote"), by and between the CITY OF
<br />SAN MARCOS,TEXAS. aTexas municipal corporation (the "City"), Hays County. Texas (the "County"),
<br />and LAZY OAKS RANCH, LP, aTexas Limited Partnership ("LOW).LCSMPh. 1-1.LLC, aTexas limited
<br />liability company as partial assignee of LOR ("LCSM Ph.1-11"), LCSM Ph. 1-2, LLC, a Texas limited liability
<br />company aspartial assignee ofLOR(^LCSKNPh.11-2^).LCSK8Ph. 2.LLC, aTexas limited liability company
<br />as partial assignee of LOR ("LCSM Ph. 2"), LCSM Ph. 3, LLC, a Texas limited liability company as partial
<br />assignee ofLOR (^LCSA8 Ph' 3^), LCSYN Ph. 4. LLC. e Texas limited liability company as partial assignee
<br />ofLOR (^LCSK8 Ph' 4^), La Cima Commercial, LP a Texas partnership as a partial assignee ofLOR ("La
<br />Cima Cwmmnoerc|a|^), LCSK8 VVVV LLC. a Texas limited liability company as a partial assignee ufLOFl
<br />(^LCS&& VVVV'). and LC8K8 VVeat. LP. a Texas limited partnership (^UCS8Q West" and. together with LOR.
<br />LCSK8 Ph.1-1, LCSKA Ph. 1-2, LC8yN Ph. 2, LCSYN Ph. 3, LC8yN Ph. 4, Le Cima Commercial, and LC8K8
<br />WW, the "Owner"). The City and Owner are sometimes hereinafter referred to individually as "Party", and
<br />collectively aathe ^Part|es"The Parties agree aafollows:
<br />PURPOSES AND CONSIDERATIONS
<br />WHEREAS, the City and LORentered into that certain Fourth Amended and Restated Development
<br />Agreement dated July 6, 2021, and recorded under Document Number 21O43420 in the Official Public
<br />Records of Hays County, Texas (the "Existing Development Agreement"), related to that certain 2,552.379
<br />acneo, more orless, parcels of land (collectively, the "Property") located in the Extraterritorial Jurisdiction
<br />("ET]") of the City. Hays County, Texau, and more particularly described in Exhibit "^4", Exhibit '^A -i''.
<br />Exhibit "A-2",Exhibit ^'A-3".and Exhibit °A~4''. attached hereto and incorporated herein for all purposes
<br />(with the land in Exhibit ^A-1''and Exhibit ''A-2"collectively, the "La Cima Outporoe|a^; the land 101.66 acre
<br />tract of land and the 22.723 acre tract of land described in Exhibit ^A-4^ collectively, the "Additional
<br />Property"; and the 22.723 acre tract described in Exhibit "A-4' individually, the "Additional 22 Acre Tract");
<br />WHEREAS, Owner desires to develop the Property totaling 2,552.379 acres of land asasingle family
<br />residential, limited nonresidential and oonuenxaion, preservation and open space development generally
<br />to foster a walkable and bikeable community in accordance with the Conceptual Land Use Plan, aomore
<br />padiou|ar|ydeaoribedinExh|b|t^"B"atbachedhere(oandincorporatedhereinfnre||purpoaeaendunder
<br />the name LaCima San Marcos (the ^Pnoject");
<br />WHEREAS, the Property is appraised for ad valorem tax purposes as land for agricultural mwildlife
<br />management use ortimber 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 make
<br />a development agreement with the owner of land appraised for such purposes pursuant to Section 212.172
<br />of the Texas Local Government Code to defer the annexation of the property until the land owner files a
<br />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 />development agreement pursuant to both Section 43.036 and Section 212.172 of the Texas Local
<br />Government Code with the mutual understanding that this Agreement shall constitute a permit for the
<br />purposes ofChapter 245ofthe Texas Local Government Code;
<br />WHEREAS, anarea adjacent orcontiguous toanarea that issubject nfdevelopment agreement entered
<br />into under Section 43.035and Section 212.1%2ofthe Texas Local Government Code ksconsidered hobo
<br />adjacent or contiguous to the municipality; and
<br />WHEREAS, the City isauthorized toenendtheExistingDevelopment Agreement and tnmake and enter
<br />into this Agreement with Owner in accordance with Subchapter G, Chapter 212, Local Government Code
<br />3493291.1
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