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Agreements may be modified from time to time and such modifications to the forms of <br /> Utility Agreements shall not require an amendment to this Agreement. <br /> "Vertical Improvements" means the construction and reconstruction of house or <br /> building for which the City requires building permits or certificates of occupancy, not <br /> including manufactured homes, modular housing, or industrialized buildings covered <br /> by Chapters 1201 or 1202 of the Texas Occupations Code. <br /> ARTICLE II. <br /> TERM AND VESTING RIGHTS <br /> Section 2.01 Term. The Term of this Agreement will commence on the Effective Date of <br /> Original Agreement and continue for forty-five (45) years thereafter, unless terminated <br /> on an earlier date under other provisions of this Agreement or by mutual written <br /> agreement of the Parties. <br /> Section 2.02 Vesting Rights. The City acknowledges that the Property shall be deemed <br /> vested from the Effective Date of Original Agreement.As a result,Owners and Developer <br /> have the vested authority to develop the Property in accordance with this Agreement. <br /> This acknowledgement by the City is not intended to waive any of the exemptions to <br /> vesting codified in Section 245.004 of the Texas Local Government Code. A vested right <br /> under this Agreement shall not apply to regulations mandated by state law, or that are <br /> necessary to prevent imminent harm to human safety or property, which may be <br /> modified and made applicable to the Project after the Effective Date of Original <br /> Agreement. <br /> Section 2.03 Owners'Rights to Continue Development. The City agrees that it will not, <br /> during the term of this Agreement, impose or attempt to impose: (a) any moratorium on <br /> the building or development within the Property or (b) any land use or development <br /> regulation that limits the rate or timing of land use approvals within the Property. This <br /> Agreement on the part of the City will not apply to temporary moratoriums uniformly <br /> imposed throughout the City and its ETJ due to an emergency constituting an imminent <br /> threat to the public health or safety, provided that the temporary moratorium continues <br /> only during the duration of the emergency. <br /> 5 <br />