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2023-001629 RGT Fee: 190.00 <br /> 03/21/2023 03:08:13 PM Total Pages: 43 <br /> Teresa Rodriguez, County Clerk - Caldwell County, TX <br /> STATE OF TEXAS § AMENDED AND RESTATED <br /> CALDWELL COUNTY § DEVELOPMENT AGREEMENT <br /> This DEVELOPMENT AGREEMENT (this "Agreement") is made and entered into as of <br /> the17 da of January 2023 (the Effective Date ), b and betwe <br /> en <br /> the CITY OF SAN MARCOS, TEXAS, a Texas home-rule municipal corporation (the <br /> "City") and FRANKLIN MOUNTAIN SAN MARCOS I, LP, a Texas limited partnership <br /> ("Owner"). The City and Owner are sometimes hereinafter referred to individually as <br /> "Party", and collectively as the `Parties". The Parties agree as follows: <br /> PURPOSES AND CONSIDERATIONS <br /> WHEREAS, Owner currently owns approximately 2,017 acres, more or less, ("the <br /> Property") partially located in the municipal boundaries of the City and partially located <br /> within the Extraterritorial Jurisdiction ("ETJ") of the City, Caldwell County, Texas, and <br /> more particularly described by metes and bounds in Exhibit"A",which is attached hereto <br /> and incorporated herein for all purposes; and <br /> WHEREAS, prior to the execution of this Agreement, approximately 888 acres of the <br /> Property were included in the CHAPTER 380 ECONOMIC DEVELOPMENT INCENTIVE <br /> AND ETJ DEVELOPMENT AGREEMENT, dated March 19, 2019 (the "Smart Terminal <br /> Development Agreement') and approximately 660 acres of the Property were included in <br /> the COTTON CENTER DEVELOPMENT AGREEMENT, dated December 20, 2016 (the <br /> "Cotton Center Development Agreement') (the Smart Terminal Development Agreement <br /> and the Cotton Center Development Agreement are collectively referred to herein as the <br /> "Previous Development Agreements"); and <br /> WHEREAS, subsequent to the adoption of the Previous Development Agreements, the <br /> Owner acquired the land, or portions thereof, and assumed the rights and obligations <br /> relating to said land, or portions thereof, included in the Previous Development <br /> Agreements; and <br /> WHEREAS, Owner desires to: amend and restate the Previous Development <br /> Agreements to, among other things, apply regulatory provisions from the Smart Terminal <br /> Development Agreement; remove references to the Katerra Tract and the economic <br /> development agreement ; combine the 660 acres from the Cotton Center Development <br /> Agreement, the 888 acres from the Smart Terminal Development Agreement, and <br /> approximately 469 acres not previously been included in a development agreement with <br /> the City in this Agreement; <br /> WHEREAS, in conjunction with the adoption of this Agreement, the Owner desires to <br /> concurrently remove the aforementioned 660 acres from the Cotton Center Development <br /> Agreement; and <br /> WHEREAS, Owner desires to develop the Property as Heavy Industrial and commercial, <br /> r <br />