Res 2009-018 - Laserfiche WebLink

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NOW, THEREFORE, in consideration of the mutual benefits and promises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, • the City, Owner, and Developer agree as follows: 1. AUTHORITY AND TERM 1. Authority. The City's execution of this Agreement is authorized by Section 212.172 of the Texas Local Government Code and constitutes a valid and binding obligation of the City. The City acknowledges that Owner and Developer are acting in reliance upon the City's performance of its obligations under this Agreement in making its decision to commit substantial resources and money to the development of the Property. 2. Term. This Agreement shall become enforceable upon execution by the City, Owner, and Developer and shall be effective on the Effective Date. This Agreement shall terminate as provided elsewhere in this Agreement unless extended by mutual agreement of the parties. II. OBLIGATIONS OF THE OWNER & DEVELOPER Subject to and conditioned upon the conveyance of the Property from the Owner to the Developer, Developer's development of the Property, and any other limitations set forth herein, • and in consideration of the City's agreement to meet its obligations set forth in Section III below, Developer agrees that the following performance guidelines shall be met in the development of the Property: 1. Land Plan. Developer shall develop the Property in accordance with the Conceptual Land Use Plan shown on the attached Exhibit "B". 2. Development Schedule. Development of the Property shall occur in substantial accordance with the schedule described in the attached Exhibit "C". 3. Applicable Development Ordinances. Developer shall develop the Property in accordance with all City ordinances that apply to development within City limits, and more specifically, City development ordinances that apply within the "MF-18" zoning district as described in the City's Land Development Code, provided, however, that nothing herein shall prohibit Developer from requesting a variance or exception from City ordinances in accordance with the procedures appropriate to the requested variance or exception. 4. Voluntary Petition for Annexation. The Developer hereby agrees that this Agreement constitutes a voluntary petition to the City, acting in the City's sole discretion, for annexation of the Property for full purposes under the provisions of Section 43.052(h) of the Texas Local Government Code on or after conveyance of the Property by Owner to Developer. To accomplish such annexation, the City will not need to take the following actions, all of which • are waived by the Developer: