Common use of Purpose; Consideration Clause in Contracts

Purpose; Consideration. Commented [VR1]: Developer needs to provide exhibit. (a) The Developer owns approximately 113.415136.323-acre tract of land located in Travis County, Texas, being more particularly described in Exhibit A and Exhibit A.1 attached hereto and incorporated herein for all purposes (the “Property”). Developer plans to develop the Property as a mix use development with a single-family residential subdivision (the Residential Development”), commercial development (the “Commercial Development”) and floodplain retained by Developer, collectively referred to as the “Okra Development” or “Development”. The Developer and the City want to provide that the City is able to enforce the development standards for the Development as they are described in this Agreement through its building permit, inspection, and certificate of occupancy processes, given that Texas Government Code Section 3000.002 et seq, limits the ability of cities to enforce certain development standards governing building materials by ordinance. In addition, the Developer and the City want to provide for the City to allow for the concurrent review of the plats and plans submitted by Developer for the Development. (b) The Developer will benefit from a concurrent review of the plats and plans for the Development; and the City enforcing the Development Standards as set forth herein because it will be more efficient and cost-effective for compliance to be monitored and enforced through the City’s building permit and inspection processes and will help ensure that the Development is built out as planned by the Developer after conveyance to the builder of homes or other buildings and structures authorized by the applicable zoning regulations. The City will benefit from this Agreement by having assurance regarding certain development standards for the Development, having certainty that such Development Standards may be enforced by the City, and preservation of property values within the City. (c) The benefits to the Parties set forth in this Section 1, plus the mutual promises expressed herein, are good and valuable consideration for this Agreement, the sufficiency of which is hereby acknowledged by both Parties.

Purpose; Consideration. Commented [VR1]: Developer needs to provide exhibit. (a) The Developer owns Developers collectively own an approximately 113.415136.323-134.529 acre tract of land located in Travis County, Texas, being more particularly described in Exhibit A and Exhibit A.1 attached hereto and incorporated herein for all purposes (the “Property”) with Enfield owning 10.978 acres (the “Enfield Property”) and Monarch owning 123.551 acres (the “Monarch Property”). Developer The Enfield Property and the Monarch Property are sometimes collectively referred to as the “Property”). Monarch plans to develop the Monarch Property as a mix use development with a single-single family residential subdivision (the “Residential Development”), and Enfield plans to develop the Enfield Property as a commercial development (the “Commercial Development”) and floodplain retained by Developer), collectively referred to as the “Okra Monarch Ranch Development” or “Development”. The Developer Developers and the City want to provide that the City is able to enforce the development standards for the Development as they are described in this Agreement through its building permit, inspection, and certificate of occupancy processes, given that Texas Government Code Section 3000.002 et seq, limits the ability of cities to enforce certain development standards governing building materials by ordinance. In addition, the Developer Developers and the City want to provide for the City to allow for the concurrent review of the plats and plans submitted by Developer Developers for the Development. The City and Monarch Developer also want to provide for the design and construction of regional wastewater services and possible oversizing of those wastewater services for use by the Property and other development actions by both Parties. (b) The Developer Developers will benefit from a concurrent review of the plats and plans for the Development; and the City enforcing the Development Standards as set forth herein because it will be more efficient and cost-effective for compliance to be monitored and enforced through the City’s building permit and inspection processes and will help ensure that the Development is built out as planned by the Developer Developers after conveyance to the builder of homes or other buildings and structures authorized by the applicable zoning regulations. The City will benefit from this Agreement by having assurance regarding certain development standards for the Development, having certainty that such Development Standards may be enforced by the City, and preservation of property values within the City. (c) The benefits to the Parties set forth in this Section 1, plus the mutual promises expressed herein, are good and valuable consideration for this Agreement, the sufficiency of which is hereby acknowledged by both Parties.

Purpose; Consideration. Commented [VR1]: Developer needs to provide exhibit. (a) The Developer owns Developers collectively own an approximately 113.415136.323-134.529 acre tract of land located in Travis ▇▇▇▇▇▇ County, Texas, being more particularly described in Exhibit A and Exhibit A.1 attached hereto and incorporated herein for all purposes (the “Property”) with Enfield owning 12.791 acres (the “Enfield Property”) and Monarch owning 123.551 acres (the “Monarch Property”). Developer The Enfield Property and the Monarch Property are sometimes collectively referred to as the “Property”). Monarch plans to develop the Monarch Property as a mix use development with a single-single family residential subdivision (the “Residential Development”), and Enfield plans to develop the Enfield Property as a commercial development (the “Commercial Development”) and floodplain retained by Developer), collectively referred to as the “Okra Monarch Ranch Development” or “Development”. The Developer Developers and the City want to provide that the City is able to enforce the development standards for the Development as they are described in this Agreement through its building permit, inspection, and certificate of occupancy processes, given that Texas Government Code Section 3000.002 et seq, limits the ability of cities to enforce certain development standards governing building materials by ordinance. In addition, the Developer Developers and the City want to provide for the City to allow for the concurrent review of the plats and plans submitted by Developer Developers for the Development. The City and Monarch Developer also want to provide for the design and construction of regional wastewater services and possible oversizing of those wastewater services for use by the Property and other development actions by both Parties. (b) The Developer Developers will benefit from a concurrent review of the plats and plans for the Development; and the City enforcing the Development Standards as set forth herein because it will be more efficient and cost-effective for compliance to be monitored and enforced through the City’s building permit and inspection processes and will help ensure that the Development is built out as planned by the Developer Developers after conveyance to the builder of homes or other buildings and structures authorized by the applicable zoning regulations. The City will benefit from this Agreement by having assurance regarding certain development standards for the Development, having certainty that such Development Standards may be enforced by the City, and preservation of property values within the City. (c) The benefits to the Parties set forth in this Section 1, plus the mutual promises expressed herein, are good and valuable consideration for this Agreement, the sufficiency of which is hereby ▇▇▇▇▇▇ acknowledged by both Parties.

Purpose; Consideration. Commented [VR1]: Developer needs to provide exhibit. (a) The Developer owns approximately 113.415136.323that certain 15.4217-acre tract of land located in Travis County, Texas, being more particularly described in Exhibit A and Exhibit A.1 attached hereto and incorporated herein for all purposes (the “Property”). Developer ) and plans to develop the Property as a mix use development with a single-family residential subdivision multifamily project as conceptually shown in Exhibit B (the Residential “Development”), commercial development (the “Commercial Development”) and floodplain retained by Developer, collectively referred to as the “Okra Development” or “Development”. The Developer and the City want to provide desires that the City is be able to enforce the development standards for the Development as they are described in this Agreement set forth herein through its building permit, inspection, and certificate of occupancy processesprocesses by this Agreement, given that Texas Government Code Section 3000.002 et seq, limits the ability of cities to enforce certain development standards governing building materials by ordinance. In addition, the Developer and desires that the City want to provide for the City to allow for the concurrent review of the plats and plans submitted by Developer for the Development. Further, the Parties are entering into this Agreement to agree to permitted modifications to the Code of Ordinances City of Manor, Texas (the “City Code”). (b) The Developer will benefit from a concurrent review of the plats and plans for the Development; , and from the City enforcing the Development Standards as set forth herein because it will be more efficient and cost-effective for compliance to be monitored and enforced through the City’s building permit and inspection processes and will help ensure that the Development is built out as planned by the Developer after conveyance to the builder of homes or other buildings and structures authorized by the applicable zoning regulations. The City will benefit from this Agreement by having assurance regarding certain development standards for the Development, having certainty that such Development Standards may be enforced by the City, and preservation of property values within the City. Without the agreements herein the Development would not be financially feasible and therefore would not provide high quality, affordable housing to meet the needs within the City. (c) The benefits to the Parties set forth in this Section 1, plus the mutual promises expressed herein, are good and valuable consideration for this Agreement, the sufficiency of which is hereby acknowledged by both Parties.

Purpose; Consideration. Commented [VR1]: Developer needs to provide exhibit. (a) The Developer owns approximately 113.415136.323-that certain 119.703 acre tract of land located in Travis ▇▇▇▇ County, Texas, being more particularly described in Exhibit A and Exhibit A.1 attached hereto and incorporated herein for all purposes (the “Property”). Developer plans ) and wishes to develop the Property as for a mix use development with a of single-family residential subdivision residential, (the Residential Development”R-1-2, R-1-3, A), residential condominiums (R-1-C) and retail commercial development (Community Commercial) (the “Commercial Development”) Exhibit B attached hereto and floodplain retained by Developer, collectively referred to as the “Okra Development” or “Development”incorporoated herein for all purposes. Required project infrastructure is shown in Exhibit C. The Developer and the City want to provide desires that the City is be able to enforce the development standards for the Development as they are described in this Agreement set forth herein through its building permit, inspection, and certificate of occupancy processesprocesses by this agreement, given that Texas Government Code Section 3000.002 et seq, House Bill 2439 adopted in the 86th Legislative Session limits the ability of cities to enforce certain development standards governing building materials by ordinance. In addition, the Developer and the City want to provide for the City to allow for the concurrent review of the plats and plans submitted by Developer for the Development. (b) The Developer desires to design to certain zoning districts and construct certain subdivision improvements to ensure viability of the project, and to enhance the built environment in this area of the City. Said infrastructure is more particularly described in Section 3 Development Standards and Exhibit C attached hereto and incorporated herein for all purposes (the “Property”). (c) The Developer will benefit from a concurrent review of the plats and plans for the Development; and the City enforcing the Development Standards as set forth herein because it will be more efficient and cost-effective for compliance to be monitored and enforced through the City’s building permit and inspection processes and will help ensure that the Development is built out as planned by the Developer after conveyance to the builder of homes or other buildings and structures authorized by the applicable zoning regulations. The City will benefit from this Agreement by having assurance regarding certain development standards for the Development, having certainty that such Development Standards may be enforced by the City, and preservation of property values within the City. (cd) The benefits to the Parties set forth in this Section 1, plus the mutual promises expressed herein, are good and valuable consideration for this Agreement, the sufficiency of which is hereby acknowledged by both Parties.

Purpose; Consideration. Commented [VR1]: Developer needs to provide exhibit. (a) The Developer Wolf owns approximately 113.415136.323-that certain 50.431 acre tract of land located in Travis ▇▇▇▇▇▇ County, Texas, being more particularly described in Exhibit A and Exhibit A.1 attached hereto and incorporated herein for all purposes (the “Property”). Developer plans Wolf owns and Continental has contracted to purchase from Wolf that certain 44.036 acre tract out of the Property located in ▇▇▇▇▇▇ County, Texas, being more particularly described in Exhibit B attached hereto and incorporated herein for all purposes (the “Continental Residential Property”). Wolf owns and shall retain ownership of the two tracts of land located in ▇▇▇▇▇▇ County, Texas out of the Property, being: (i) a 3.303 acre tract of land more particularly described in Exhibit C-1 attached hereto and incorporated herein for all purposes, and (ii) a 3.001 acre tract of land more particularly described in Exhibit C- 2 attached hereto and incorporated herein for all purposes (collectively, the “Wolf Commercial Property”). (b) Continental and Wolf desire and wish to develop the Property as a mix use development with a single-family for residential subdivision and commercial uses in the Palomino Development (the Residential “Development”). Continental is the Developer for the Continental Residential Property, commercial development (and Wolf is the “Developer for the Wolf Commercial Development”) and floodplain retained by Developer, collectively referred to as the “Okra Development” or “Development”Property. The Developer and the City want to provide desires that the City is be able to enforce the development standards for the Development as they are described in this Agreement set forth herein through its building permit, inspection, and certificate of occupancy processesprocesses by this Agreement, given that Texas Government Code Section 3000.002 et seq, House ▇▇▇▇ 2439 adopted in the 86th Legislative Session limits the ability of cities to enforce certain development standards governing building materials by ordinance. In addition, the Developer and desires that the City want to provide for the City to allow for the concurrent review of the plats and plans submitted by Developer for the Development and concurrent review of the Traffic Impact Analysis (“TIA”) at the time the preliminary plan is submitted to the City for the Development. (bc) The Developer will benefit from a concurrent review of the plats and plans and the TIA for the Development; and the City enforcing the Development Standards as set forth herein because it will be more efficient and cost-effective for compliance to be monitored and enforced through the City’s building permit and inspection processes and will help ensure that the Development is built out as planned by the Developer after conveyance to the builder of homes or other buildings and structures authorized by the applicable zoning regulations. The City will benefit from this Agreement by having assurance regarding certain development standards for the Development, having certainty that such Development Standards may be enforced by the City, and preservation of property values within the City. (cd) The benefits to the Parties set forth in this Section 1, plus the mutual promises expressed herein, are good and valuable consideration for this Agreement, the sufficiency of which is hereby acknowledged by both Parties.

Purpose; Consideration. Commented [VR1]: Developer needs to provide exhibit. (a) The City and the Developer owns approximately 113.415136.323-acre tract previously entered into the ▇▇▇▇▇▇▇ Professional Plaza Development Agreement dated effective as of land May 19, 2016 (the “Original Agreement”), under which the City and the Developer agreed to certain terms relating to the development the property located in Travis ▇▇▇▇▇▇▇▇▇▇ County, Texas, being more particularly Texas described in Exhibit A and Exhibit A.1 attached hereto and incorporated herein for all purposes (the “Property”)purposes. The Developer plans wishes to develop the Property as a mix use development with a single-family residential subdivision for an office complex including an animal hospital (the Residential “Development”), commercial development . (the “Commercial Development”b) and floodplain retained by Developer, collectively referred to as the “Okra Development” or “Development”. The Developer and the City want to provide desires that the City is be able to enforce the masonry development standards for set forth in Section 3 (the “Masonry Development as they are described in this Agreement Standards”) through its building permit, inspection, and certificate of occupancy processesprocesses by this Addendum, given that Texas Government Code Section 3000.002 et seq, House ▇▇▇▇ 2439 adopted in the 86th Legislative Session limits the ability of cities to enforce certain development standards governing building materials by ordinance. In addition, the Developer and the City want to provide for the City to allow for the concurrent review of the plats and plans submitted by Developer for the Development. (bc) The Developer will benefit from a concurrent review of the plats and plans for the Development; and the City enforcing the Masonry Development Standards as set forth herein because it will be more efficient and cost-effective for compliance to be monitored and enforced through the City’s building permit and inspection processes and will help ensure that the Development is built out as planned by the Developer after conveyance to the builder of homes or other buildings and structures authorized by the applicable zoning regulations. The City will benefit from this Agreement Addendum by having assurance regarding certain development standards for the Development, having certainty that such Development Standards development standards may be enforced by the City, and preservation of property values within the City. (cd) The Parties enter into this Addendum for the purposes stated above. The benefits to the Parties set forth in this Section Article 1, plus the mutual promises expressed herein, are good and valuable consideration for this AgreementAddendum, the sufficiency of which is hereby acknowledged by both Parties.

Purpose; Consideration. Commented [VR1]: Developer needs to provide exhibit. (a) The City and the Developer previously entered into a Development and Reimbursement Agreement (Crescent Leander Development and Reimbursement Agreement) dated effective as of January 7, 2014 (the “Original Agreement”), under which the City and the Developer agreed to certain terms relating to the development the property located in ▇▇▇▇▇▇▇▇▇▇ County, Texas described in Exhibit A attached hereto and incorporated herein for all purposes. The Developer wishes to develop the Property for the ▇▇▇▇▇▇ Subdivision (the “Development”). (b) The Developer owns approximately 113.415136.323-that certain 490 acre tract of land located in Travis ▇▇▇▇▇▇▇▇▇▇ County, Texas, being more particularly described in Exhibit A and Exhibit A.1 attached hereto and incorporated herein for all purposes (the “Property”). Developer plans to develop ) and has been developing the Property as a mix use development with a single-family residential subdivision (the Residential for ▇▇▇▇▇▇ MU/MF Development”), commercial development (the “Commercial Development”) and floodplain retained by Developer, collectively referred to as the “Okra Development” or “Development”. The Developer and the City want to provide desires that the City is be able to enforce the development standards for the Development as they are described in this Agreement set forth herein through its building permit, inspection, and certificate of occupancy processesprocesses by this agreement, given that Texas Government Code Section 3000.002 et seq, House ▇▇▇▇ 2439 adopted in the 86th Legislative Session limits the ability of cities to enforce certain development standards governing building materials by ordinance; provided however, that in all circumstances the ▇▇▇▇▇▇ Development Standards and the 2014 CZO take priority over any current City of Leander ordinances and zoning regulations. In additionthe event of any conflict between the ▇▇▇▇▇▇ PUD, the Developer 2014 CZO, and the City want COL Current Rules, the order of priority for governance and interpretation is as follows: (i) ▇▇▇▇▇▇ PUD, then (ii) 2014 CZO, then (iii) COL Current Rules (collectively to provide for be called the City to allow for the concurrent review of the plats and plans submitted by Developer for the Development“Priority Order.”) (bc) The Developer will benefit from a concurrent review of the plats and plans for the Development; and the City enforcing the Development Standards as set forth herein because it will be more efficient and cost-effective for compliance to be monitored and enforced through the City’s building permit and inspection processes and will help ensure that the Development is built out as planned by the Developer after conveyance to the builder of homes or other buildings and structures authorized by the applicable zoning regulations. The City will benefit from this Agreement by having assurance regarding certain development standards for the Development, having certainty that such Development Standards may be enforced by the City, and preservation of property values within the City. (cd) The benefits to the Parties set forth in this Section Article 1, plus the mutual promises expressed herein, are good and valuable consideration for this Agreement, the sufficiency of which is hereby acknowledged by both Parties.