Res 2024-078 approving an agreement with Clint Jones, owner of Fleming Farms, Highlander S M Two, Rattler Ridge, LP., and JLBC 710 Investments, LLC, owner of Sedona South, to provide for the sharing of costs for the construction

Home Browse Search

7. Reservation. The City agrees to reserve for and allocate the number of LUEs of wastewater treatment capacity for each Tract and District in accordance with the Absorption Schedule until the later of (i) December 31, 2040, or (ii) the bonds issued by the Districts to pay for or finance the Facilities or LUE Fees are retired in full by the Districts. All unused LUEs (and corresponding wastewater treatment capacity) reverts back to the City after the later of (i) or (ii) above. Except as otherwise provided in this Agreement,the City's obligation to provide continuous and adequate Wastewater Services to Customers shall survive this Agreement. 8. Assignability. The Developers shall have the right to assign their respective rights and obligations under this Agreement, in whole or in part, to any third-party provided they give written notice to the City of such assignment. 9. Successors-In-Interest. This Agreement shall be binding upon and inure to the benefit of Developers' successors-in-interest to the Tracts. Each Developer and their successors-in-interests shall be obligated to provide actual, prior written notice of the Agreement,together with a true and complete copy of the Agreement, to their respective immediate successor-in-interest to the Tract, or any portion thereof, such that its successor-in-interest shall take title to the Tract, or portion thereof, subject to this Agreement and shall be bound by the terms of this Agreement. 10. Certain Developer Obligations Survive. The Developers' obligations to the other Developers or Districts referenced herein, including without limitation those referenced in Articles V and VI, shall survive the City's removal as a Party and shall remain binding on such Developer or Developers (or Districts). 11. Law and Venue. This Agreement shall be governed under the laws of the State of Texas and any legal challenge that is filed under this Agreement shall be filed in the courts of Guadalupe County, Texas. 12. Amendments. No amendment of this Agreement shall be valid unless executed by all Parties to this Agreement. This Agreement represents the entire agreement amongst all of the Parties pertaining to the City's provision of Wastewater Services to the Customers. If the City is removed as a Party because of a default or failure to perform, then this Agreement may be amended by the Developers without execution by the City. If a Developer defaults and the remaining Parties desire to amend this Agreement, the remaining non-defaulting Parties may execute any such amendment to be bound thereby. Notwithstanding the foregoing, any amendment by the remaining non-defaulting Parties shall not remove the rights held by the defaulting Developer for the LUEs the defaulting Developer has already acquired under this Agreement. Regional Wastewater Services & Facilities Cost Sharing Agreement Res. 2024-78R Page 25 of 47