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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the City may amend this Agreement without the joinder of any other landowner. (b) Amendments to this Agreement or the Concept Plan shall not be considered a waiver of vested rights as described in Section 2.02. Section 9.02 Assignment. (a) Owners may assign this Agreement from time to time with respect to all or part of an Owner's interest in the Property to a purchaser of all or a portion of the Property, and Developer may assign this Agreement from time to time to a Designated Successor and Assign. Any assignment must be in writing, set forth the assigned rights and obligations without modification or amendment, and be executed by the assigning Owner or Developer and the proposed assignee. The assigning Owner or Developer shall provide the City a Notice (as hereinafter defined) of each such assignment, including a copy of the assignment document. Upon such whole or partial assignment, the City shall solely look to the assignee for the performance of all obligations under this Agreement with respect to that portion of the Property so assigned. The assigning Owner or Developer shall be released from any and all obligations under this Agreement and shall have no further liability with respect to the portion of the Property so assigned, except as to a default that occurred prior to the date of the assignment. A default by any subsequent assignee shall not constitute a default by an Owner or Developer under this Agreement. (b) The City may not assign this Agreement, in whole or in part, including any obligation,right, title, or interest of the City under this Agreement, to any person, entity, or political subdivision. ARTICLE X. DEFAULT AND REMEDIES FOR DEFAULT Section 10.01 Preventative Default Measures. The City agrees that day-to-day oversight of the implementation of this Agreement shall at all times during the term of this Agreement be assigned directly to a member of the City administration. In the event of a dispute involving an interpretation or any other aspect of this Agreement, upon an Owner's or Developer's request, such City representative shall convene a meeting of the Parties as soon as reasonably practicable and use all reasonable efforts to avoid processing delays and to resolve the dispute and carry out the spirit and purpose of this Agreement. Section 10.02 Default and Notice of Default. It shall be a default under this Agreement if one of the Parties shall fail to perform any of its obligations under this Agreement and such failure shall remain uncured following the expiration of thirty(30) days after written 17 960915_5