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Res 2025-043 approving an amended development agreement (Riverbend Ranch / Baugh Ranch / Riley’s Point) with HK Baugh Ranch, LLC, HK Riley’s Point, LLC, HK Real Estate Development, LLC, and Jack’s Reservs
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Res 2025-043 approving an amended development agreement (Riverbend Ranch / Baugh Ranch / Riley’s Point) with HK Baugh Ranch, LLC, HK Riley’s Point, LLC, HK Real Estate Development, LLC, and Jack’s Reservs
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5/30/2025 8:56:35 AM
Creation date
5/23/2025 8:43:45 AM
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City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
2025-043
Date
3/4/2025
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ARTICLE IX. <br /> AMENDMENTS AND ASSIGNMENT <br /> Section 9.01 Amendments. <br /> (a) This Agreement may be amended as to all of the Property at any time by mutual <br /> written agreement of the City, Developer and Owners (or the Owners respective <br /> successors and permitted assigns); provided, however, an Owner, Designated <br /> Successor and Assign, or Assignee of a portion of the Property and the City may <br /> amend this Agreement as it relates to such Owner's, Designated Successor and <br /> Assign's, or Assignee's parcel without the joinder of any other Owner, Designated <br /> Successor and Assign or Assignee provided that the Developer must be a party to <br /> such amendment. Additionally, for so long as the owners of the Property listed on <br /> the signature pages of this Agreement (the "Original Owners') own any portion <br /> of the Property, the Original Owners, the Developer, and the City may amend this <br /> Agreement without the joinder of any other Owner, Designated Successor and <br /> Assign, or Assignee. The consent of Ultimate Buyers to modification of this <br /> Agreement is not required. <br /> (b) Amendments to this Agreement or the Concept Plan shall not be considered a <br /> waiver of vested rights as described in Section 2.02. <br /> Section 9.02 Assignment. <br /> (a) Owners may assign this Agreement to a Designated Successor and Assign as <br /> provided in Section 9.02(a)(i), or pursuant to Section 9.02(a)(ii), and not otherwise. <br /> (i) Owners may assign this Agreement to a Designated Successor and Assign if the <br /> assignment is in connection with transfers of all or portions of the Property to the <br /> Designated Successor and Assign, either by a single assignment or through one <br /> or more partial assignments, in each instance without the prior written consent <br /> of the City. Any such assignment by an Owner to a Designated Successor and <br /> Assign must be accompanied by a conveyance by the Owner to their Designated <br /> Successor and Assign of Owner's interest in this Agreement as to the portion of <br /> Property conveyed. A copy of any such assignment shall be delivered to the City. <br /> (ii) Except as set out in Section 9.02(a)(i), the rights and obligations of Owners under <br /> this Agreement may only be assigned by an Owner in accordance with the <br /> provisions of this Section 9.02(a)(ii). An Owner may from time to time assign this <br /> Agreement, in whole or in part, and including any obligation, right, title or <br /> interest of an Owner under this Agreement to a third party (an "Assignee"), <br /> provided that as to any such assignment the following conditions are satisfied: <br /> 19 <br />
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