Res 2023-021R Approving a first amendment and reinstated agreement with Franklin Mountain San Marcos

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"Owner" when spelled in capital case, means the Primary Owner, Walton Silver Crossing, Walton Austin, Walton Martindale, Walton Martindale 2, the Individual Owners and any subsequent owner of any portion of the Property that is a designated successor of assignee of rights from Owner in accordance with this Agreement. "owner" when spelled with lower case, means Primary Owner, the Individual Owners, and any future owners of any portion of the Property. "Planning Areas" refers to the areas numbered 1-42 on Exhibit B that illustrate the proposed location and arrangement of uses, open space, and proposed amenities. Each Planning Area's Land Use corresponds to the zoning districts as shown in Table "I" in Article IV. The Planning Areas may be modified during submittal of the Subdivision Concept Plat. "Primary Owner" means, Walton Texas, LP, and Franklin Mountain, and any subsequent entity to which Walton Texas, LP, may assign its rights and obligations as Primary Owner in accordance with this Agreement. It is hereby acknowledged that the Primary Owner owns various portions of the Property with the Individual Owners and through various tenants-in-common agreements (including one or more Declarations of Covenants, Conditions and Restrictions, which appear of record in the county where the applicable portions of the Property is located) has the right and authority, as "operator" thereunder, to act on behalf of the Individual Owners. "Parks Plan" shall mean the parks, trails and open space plan attached as Exhibit D. "Residential Utility Connections" shall be calculated as follows: each single family home shall be calculated as 1 utility connection; each multi -family unit shall be calculated as .85 of a utility connection) "Sub -District" means a municipal utility district created through the subdivision of the District pursuant to the Districts Enabling Act and vested with the same authority as the District and with total land and boundaries established in accordance with Section 2.02 of the Consent Agreement. "Subdivision Concept Plat" (also referred to as concept plat) means the initial plat for a subdivision to be developed in phases that delineates the sequence and timing of development within the proposed subdivision, and that is reviewed and decided under the City Codes. The area covered by a Subdivision Concept Plat shall be no more than 550 acres and no less than 200 acres (provided, however, Subdivision Concept Plats may include Property less than 200 acres in size, if multiple Subdivision Concept Plats are filed for a Sub -District that contains non-contiguous parcels), to correlate with the maximum and minimum Sub -District size in the Consent Agreement for the Cotton Center Municipal Utility District No. 1. "Vesting Date" shall have the same meaning described in Section 2.02 of this Agreement.