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

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NOW, THEREFORE, for and in consideration of the mutual agreements, covenants, and conditions contained in this Agreement, and other good and valuable consideration, City and Owner agree as follows: ARTICLE I DEFINITIONS Section 1.01 Terms Defined in this Agreement. In this Agreement, each of the following terms shall have the meanings indicated: "Additional Land" means any of the approximately 63 acres of land, more particularly described on Exhibit G, that the Primary Owner desires to add to the Property boundaries and that may be included that is subject to this Agreement or to include it within the Municipal Utility District. "Applicable Requirements" shall mean the applicable federal and state laws, rules and regulations, and the San Marcos City Codes -approved as of the Vesting Date of this Agreement. "City" shall mean the City of San Marcos, Texas, a Texas home rule municipality. "City Codes" shall mean the City's Code of Ordinances, including the City's Land Development Code in effect on the Vesting Date of this Agreement and any additional regulation incorporated by reference in this Agreement, existing on the date hereof. "City Council" shall mean the City Council of the City or any successor governing body. "City Manager" shall mean an official appointed as the administrative manager of the City. "Concept Plan" (also referred to in the City's Code as a "Conceptual Plan") shall mean a component of the regulations that illustrates the proposed location and arrangement of uses, the relationship of such uses to base zoning districts, development phasing, planned public improvements, open space, proposed amenities and the overall design of the development, attached as Exhibit B. "County" shall mean Caldwell County, Texas. "County Subdivision Agreement" shall mean that certain agreement between the Owner and the County regarding the applicability of the County Development Regulations to the Property. "Cotton Center" or "Property" shall have the meaning set forth in the recitals to this Agreement, and consists of the land described on Exhibit A. "Designated Successors and Assigns" shall mean an entity to which Primary Owner assigns (in writing) all or a portion of its (and any Individual Owners) rights and obligations contained in this Agreement puesuant to Section 18.03. "Development Waivers" shall mean a deviation from City Code as set forth on Exhibit C. "Director" shall mean the Director of the City's Planning and Development Services Department, or its successor department and/or the Director's designee.