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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ARTICLE IV. CONCEPT PLAN AND PLATTING,AND MUNICIPAL UTILITY DISTRICTS Section 4.01 Concept Plan. The Property is to be developed in phases as a master- planned community with such number of phases, and number of lots within each phase, to be determined by Developer or one or more Owners.There shall be no minimum phase size requirement and sections may be developed independently and not necessarily part of an overall larger phase. The Concept Plan is the preliminary plan for the development of the Property. The Concept Plan is consistent with this Agreement and applicable City ordinances. Developer, and Owners, intend to develop the Project over a number of years. As such, the Concept Plan may be revised, as described in more detail in Section 4.05. Section 4.02 Platting. Developer and Owners are required to plat any subdivision of the Property, other than any subdivision of the Property for the purpose of qualifying persons to serve on the Board of Directors of a District, in accordance with the Subdivision Regulations and any applicable variances thereto set forth herein or otherwise. So long as the plat meets the requirements of (1) the Subdivision Regulations to the extent not in conflict with this Agreement; (2) any variances set forth in this Agreement or variances that the City may approve from time to time; and (3) this Agreement (including any amendments or updated provisions of the Subdivision Regulations specifically allowed herein),the City shall approve the plat and failure of the City to approve the plat shall be considered a breach of this Agreement as provided in Section 10.03 below. Section 4.03 Consent to the Creation of Municipal Utility Districts. The City consented to the creation of two municipal utility districts over the portion of the Property within the City's ETJ, which consent shall be governed by the Consent Agreements. HC MUD 9 has been created by Order of the TCEQ. HC MUD 8 may be created either by the TCEQ or by division of HC MUD 9 pursuant to Texas Water Code Section 49.316. If HC MUD 8 is created by division of HC MUD 9, the City consents to the annexation of any portion of the Property within the City's ETJ into HC MUD 8. No further action will be required by the City to evidence its consent to the annexation of land into HC MUD 8. Provided, however, the landowner will submit a petition for consent to the City that meets the requirements of Section 54.016(a), Texas Water Code, and the City agrees to place the petition for consent on an agenda for consideration by the City Council with a staff recommendation to grant such consent, by ordinance, and without conditions or contingencies, within sixty (60) days after receipt of such petition for consent from the landowner. The Districts will be authorized to exercise all powers granted to municipal utility districts pursuant to Article XVI, Section 59 and Article III, Section 52 of the Texas Constitution, Chapters 49 and 54, of the Texas Water Code, and all other applicable laws and regulations presently existing or hereafter enacted. These powers shall include but not be limited to the power to design,construct,and issue bonds 7