Res 2021-246 approving a Development Agreement with HK Baugh Ranch, LLC, HK Riley’s Pointe, LLC, and Benchmark Acquisitions, LLC, to regulate the annexation and future development of approximately 1,142 acres of land

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11` 1 been fully reimbursed by the Districts to the maximum extent permitted by the rules of the Commission or other applicable law, for all of Owners' and Developer's eligible development and construction costs, as determined by the Districts' engineer. Once in effect, the terms of the Strategic Partnership Agreements shall control the City's annexation of land within the Districts. If the City annexes a District prior to full E development in and reimbursement by the District, in addition to all other remedies available to the Owners and Developer, the City shall automatically assume liability for ' such reimbursement in accordance with the written agreement(s) between the District and the Owners and/or Developers, and their respective successors and assigns. If all or any portion of the Property is annexed for full purposes, the City shall not prevent Owners and Developer from using such Property in a manner consistent with the Concept Plan and otherwise in accordance with the terms hereof. Contemporaneously with the full purpose annexation of any land within the Districts, the City will zone any property within the Project consistently with the land uses set forth on the Concept Plan and this Agreement;however,zoning for any developed property shall also be consistent with the land uses in existence on the date of the annexation insofar as practical.The City may annex the Property, or parts thereof, for limited purposes pursuant to a Strategic Partnership Agreement,for the limited purpose of imposing a sales tax. Section 8.02 Reallocation of District Boundaries. The City consents to the Districts reconfiguring their boundaries through annexation and exclusion, provided that such annexation or exclusion includes only land within the Property. The City agrees to provide any documentation evidencing such consent as may be requested or required by the Owners, Developer, or the Districts regarding such reallocation and City consent. ARTICLE IX. AMENDMENTS AND ASSIGNMENT Section 9.01 Amendments. (a) This Agreement may be amended only by a written agreement signed by the City, Developer and Owners, or all the then-current owners of all portions of the Property (other than the ultimate consumers or individual owners of occupied single-family, duplex, townhouse or attached single-family residential lots); provided, however, an Owner or a Designated Successor and Assign of a portion of the Property (other than an ultimate consumer or individual owner of an occupied single-family, duplex, townhouse or attached single-family residential lot) and the City may amend this Agreement as it relates solely to such Owner's or the Designated Successor and Assigns parcel without the joinder of any other landowner,provided that the owners of the Property listed on the signature pages of this Agreement (the "Original Owners") must be party to such amendment if an Original Owner then owns any portion of the Property. In addition, as long as the Original Owners own any portion of the Property, the Original Owners and 16 9609155