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Home My WebLink AboutLegal DocumentDEVELOPMENT AGREEMENT This Agreement is entered into this the day of , 1996, by and among the CITY OF COLLEGE STATION, TEXAS, a Texas Home:-Rule Municipal Corporation. (hereinafter referred to as the "City"), LACOUR INVESTMENTS, a Louisiana Limited Partnership (hereinafter referred to as "LaCour"), and SCC DEVELOPMENT, LTD., a Texas Limited Partnership, or its assigns, (hereinafter referred to as "SCC"). WHEREAS, LaCour is the owner of a certain 4.339 acre tract and a certain 7.891 acre tract, both in the Morgan Rector League, Brazos County, Texas, and being more fully depicted and described in the revised, proposed preliminary plat for LaCour Subdivision, Phase One, attached hereto as Exhibit "A'°, incorporated herein by reference, and hereinafter referred to as the "Preliminary Plat". WHEREAS, LaCour has proposed to sell, and SCC has agreed to buy, the 4.339 acre tract, denominated as, and hereinafter referred- to as, "Lot One" on the Preliminary Plat. ViIHEREAS, the City is interested in acquiring, by dedication, sufficient right-of way for a future extension of Kyle South Street. WHEREAS, SCC has agreed to grant the City a thirty foot (30') wide "Private Access Easement" through Lot One, running from the most southerly corner of Lot One north and west through Lot One to Harvey Road and as on the Preliminary Plat. WHEREAS, SCC has also agreed, upon certain conditions, to grant Austaco, Inc., the owner of property adjacent and to the west of Lot One, a thirty foot (30') wide "Private Access Easement" through Lot One, said easement being directly parallel with and adjacent to that portion of the most westerly property line of Lot One that is also the most easterly property line of Austaco, Inc. and overlapping a portion of the City's thirty Page 1 of 10 ouz~ss ps/cJfeb96/LaC®ur. doc foot (30') "Private Access Easement'° described above, and all as shown on the Preliminary Plat. WHEREAS, LaCour owes a significant amount of property taxes on both Loit One and the 7.891 acre tract, and LaCour is unable to pay those taxes prior to selling the properties and is thus unable to comply with City ordinance No. 1816, codified in the City's Code of Ordinances at Chapter 9, Section 6-D.4.4, which requires developers seeking approval of a new subdivision plat to submit certificates from all taxing authorities showing payment of all ad valorem taxes on the property. WHEREAS, LaCour and SCC desire to comply with the City's Wolf Pen Creek Zoning Ordinance in other respects and have elected to comply with said ordinance by dedicating to the City the minimum reservation area required by Section 7.21D of the Zoning Ordinance, and as shown on Exhibit B. NOW, THEREFORE, for and in consideration of the recitations above and in consideration of the promises and covenants herein expressed, the parties hereby agree and covenant as follows: 1. LaCour agrees and does hereby donate to the City the 5.100 acre tract, as depicted on the Preliminary Plat and hereinafter referred to as the "Wolf Pen Creek Dedication". 2. LaCour agrees to and shall dedicate to the City athirty-five foot (35') wide right-of way (approximately 0.094 acres) for the extension of Kyle Street South (hereinafter referred to as the "Kyle Street South Dedication") from the southernmost property line of the Wolf Pen Creek Dedication south to the southernmost property ]line of the "Reserve Tract for Future Development" (hereinafter referred to as the "Reserve Tract"), all as depicted on the Preliminary Plat. 3. LaCour and SCC agree and do hereby dedicate to the City a strip cif land out of and along the southeast property line of Lot One. Said strip of land being lvventy Page 2 of 10 o2rz~ss ps/c/feb96/LaCour. doc feet (20') wide, containing .295 acres, and as shown on the Preliminary Plat. This dedication is being made in compliance with, and fulfillment of, the requirements of the Wolf Pen Creek Zoning Ordinance. 4. SCC agrees to and shall grant the City and LaCour a thirty foot (30') wide "Private Access Easement" for maintenance and engineering purposes through Lot One, running from the most southerly corner of Lot One north and west through Lot One to Harvey Road and as depicted on the Preliminary Plat. In addition, SCC agrees that :in the event Austaco, Inc., the property owner immediately to the west along Harvey Road, agrees and does, in fact, close its most easterly curb-cut/access drive onto Harvey Road, Austaco may thereafter use the northern portion of this Private Access Easement for access from its property through Lot One to Harvey Road. 5. Out of the proceeds of the sale of Lot One, LaCour agrees to and shall pay all accrued ad valorem taxes, including any and all outstanding taxes for prior years and the accrued, pro-rata portion of taxes for the current year for Lot One, the Kyle Street South Dedication, and the Wolf Pen Creek Dedication. Within seven (7) days of th.e sale of Lot One, LaCour shall provide the City with certificates from all applicable taxing authorities showing payment of all ad valorem taxes, both for the current year and all past years, for Lot One, the Kyle Street South Dedication, and the Wolf Pen Creek Dedicration. Until such time, the City agrees to temporarily waive the application of a section of City Ordinance No. 1816, codified in the City's Code of Ordinances at Chapter 9, Section 6- D.4.4, which requires developers, prior to approval and filing of a final plat, to submit certificates from all taxing authorities showing payment of all ad valorem taxes •on the property. 6. Contemporaneous with the execution of this Agreement, LaCour agrees to and shall provide the City with either a federal bankruptcy court order authorizing the sale of the property subject to this Development Agreement, or in the alternative a court- Page 3 of 10 oa~3rss ps/cffeb 96/La Co ur. doc approved plan of reorganization that authorizes LaCour to sell or otherwise dispose of this property. 7. The City agrees not to make any future assessments against the Reserve Tract for the initial construction and extension, including the initial design and construction of associated drainage improvements, of Kyle Street South throughh the Reserve Tract. The City reserves the right, however, to make other future assessments against the Reserve Tract, including without limitation assessments for subsequent maintenance costs. 8. LaCour will designate on the final plat the area within Lot One for the right- of-way for the future extension of Kyle Street South, which right-of--way shall ultimately be acquired by the City. 9. SCC agrees to incur and pay without recourse the costs of the design and construction .documents for the initial construction of Kyle Street South through Lot One. In addition, the City will participate with SCC in an engineering study to determine the grade at which the extension of Kyle Street South will need to be built in order to accommodate the design and construction of any required bridge as part of the exteension of Kyle Street South. The costs for this grade study, only, shall be borne by and diivided among the parties as follows: The City - 50°/®; SCC - 25%; and LaCour - 25%. 10. SCC agrees to construct within the designated right-of--way for the future extension of Kyle Street South a roadway that meets the City's specifications for a "commercial collector". In consideration f®r SCC's construction of said .roadway, the City agrees to make no further assessments, which would otherwise be allocated to SCC, for any additional improvements that the City may elect to make to the roadway. 1 ]l . SCC agrees to and shall grant to the City a right of access over said roadway for the purpose of the City's access, solely for maintenance and related purposes, to the Wolf Pen Creek Dedication. Page 4 of 10 oa~~ss ps/cffeb96/LaCour.doc 12. At such time that the City decides to extend Kyle Street South be;yond (south of) Lot One, the City shall acquire the Kyle Street South right-of way through Lot One, as designated on the final plat, from SCC at the contemporary fair market value of the property not including the roadway improvements thereon. 13. LaCour and SCC agree to and shall provide the City with impact studies associated with the preliminary plat. LaCour and SCC agree to financially guazantf,e the costs of design and .construction of a waterline from Harvey Road to the most souttherly property line of Lot One and from Holleman to the most southerly properly line of the Wolf Pen Creek Dedication. The form of this guarantee shall be a bond from SCC and cash--out of the closing proceeds--from LaCour. The basis for the amount of this guarantee shall be the difference between the entire cost of a waterline as required by the City less any oversize participation granted by the City Council as set forth in the City's subdivision regulations. LaCour -and SCC agree that no plat of any portion of this property will be filed until this guazantee is posted with the City. 14. LaCour and SCC agree to comply at all times with all other applicable City ordinances and state and federal laws affecting the use and development of the; land described in the Preliminary Plat. 15. LaCour agrees to and shall pay fifty percent (50%) of the actual preparation costs of this Development Agreement in an amount up to, but not to exceed, two thousand five hundred dollars ($2,500.00). Costs incurred to date equal $3,081.00, of which fifty percent (50%) equals $1,540.50. LaCour agrees that this $1,540.50 plus fifty percent (50%) of any additional costs incurred, up to a total of $2,500.00, shall be paid to the City prior to submission of this Development Agreement to the City Council for approval. lti. It is understood and agreed that any failure to meet the terms and conditions of this Agreement terminates the Agreement. In such event, the City shall neitlher be obligated to waive or defer any of its ordinance requirements, nor refrain from assessing Page 5 of 10 o2rz~ss ps/cffeb9s/LaCour. doc either Lot One or the Reserve Tract for the initial design and construction of Kyle Street South, nor, at the City's option, comply with any other term of this Agreement. 17o It is understood and agreed that the continued effectiveness oi.' this Agreement and all its terms are dependent upon the occurrence of the proposed sale of Lot One from LaCour to SCC within one-hundred fifty (150) days of this Agreement. In the event that this proposed sale does not occur within one-hundred fifty (150) days Hof the date of this Agreement, the Agreement shall automatically terminate and have no fiurther force or effect whatsoever. 18. LaCour hereby releases, relinquishes, and discharges the City, its officers, agents, and employees from all claims, demands, and causes of action of every kind and character, including the cost of defense thereof, for any injury to or death of any person (whether employees of any party or other third parties) and any loss of or damage to property (whether property of the parties hereto or of third parties) that is caused by, alleged to be caused by, arising out of, or in connection with this Agreement or LaCour's work to be performed hereunder. 'phis release shall apply regardless of whether or not said claims, demands, and causes of :action are covered in whole or in part by insurance. 19. SCC hereby releases, relinquishes, and discharges the City, its officers, agents, and employees from all claims, demands, and causes of action of every kind and character, including the cost of defense thereof, for any injury to or death of any person (whether employees of any party or other third patties) and any loss of or damage to property (whether property of the parties hereto or of third parties) that is caused by, alleged to be caused by, arising out of, or in connection with this Agreement or SCC's work to be performed hereunder. °This release shall apply regardless of whether or not said claims, demands, and causes of action are covered in whole or in part by insurance. Page 6 of 10 o~~ss ps/cJfeb96/LaCour. doc 20. LaCour agrees to and shall indemnify, hold harmless, and defend the City, its officers, agents, and employees from and against any and all claims, losses, damages, causes of action, suits, and liability of every kind, including all expenses of litigation, court costs, and attorney's fees, for injury to or death of any person, or for damage to any property, or for breach of contract, arising out of or in connection with this Agreement, the work to be performed hereunder, and the properties designated herein as the Kyle Street South .Dedication, the Wolf Pen Creek Dedication and the Reserve Tract, regardless of whether such injuries, dleath, damages, or breach are caused in whole or in part by the negligence of the City.. 21. SCC agrees to and shall indemnify, hold harmless, and defend the City, its officers, agents, and employees from and against any and all claims, losses, damages, causes of action, suits, and liability of every kind, including all expenses of litigation, court costs, and attorney's fees, for injury to or death of any person, or for damage to any property, or for breach of contract, arising out of or in connection with this Agreement, the work to be performed hereunder, and the property designated herein as Lot One, including but not limited to the twenty foot (20')~ wide dedication to The City out of Lot One and the private access easements granted by this Agreement. This indemnification shall apply regardless of whether such injuries, death, damages, or breach are. caused in whole or is part by the negligence of the City, but it shall not apply where such injuries, death, damages, or breach are caused in whole or in part by the negligence or intentional acts or omissions of LaCour, 22. It is understood that this Agreement shall be governed by, and construed and enforced in accordance with, and subject to, the laws of the State of Texas. The parties agree that performance of this Agreement shall talcs place in Brazos County, Page7of10 02/23/96. ps/clfeb96/LaCour. doc Texas, and that venue shall lie in a court of competent jurisdiction in Brazos County, Texas. 23. The parties agree that they have read the terms of this Agreement and familiarized themselves with the requirements hereunder and agree that they understand their rights and responsibilities hereunder. 24. It is understood and agreed that this Agreement shall be binding upon and shall inure to the benefit of the parties and their respective heirs, lessees, representatives, successors, and assigns. 25. It is understood that this Agreement contains the entire agreement between the parties and supersedes any and all prior agreements, arrangements, or understandings between the parties relating to the subject matter. No oral understandings, statements, promises or inducements contrary to the terms of this Agreement exist. This Agreement cannot be changed or terminated unless in writing and agreed to by both parties. Dated this the LACOUR INVESTMENTS By: CITY OF COLLEGE STATION BY: George K. Noe, City Manager APPROVED: Page 8 of 10 day of , 1996. SCC, DEVELOPMENT, LTD. by SCC-GP, Inc., its sole General Partner Bv: Fred J. Heyne III, Date ov2~ss ps/c/feb96/LaCour. doc Cathy Locke, City Attorney Glenn Schroeder, Executive Director of Fiscal and Human Resources THE STATE OF TEXAS ) COUNTY OF BRAZOS ) Date Date ACKNOWLEDGMENT This instrument was acknowledged before me on 1996, by as of La-Cour Investments, a Louisiana Limited Partnership, on behalf of said partnership and known to me t® be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration thherein expressed. Notary Pu is m an or The State of Texas THE STATE OF TEXAS ACKNOWLEDGMENT COUNTY OF BRAZOS This instrument was acknowledged before me on , 1996, by Fred J. Heyne III, as of SCC-GP, Inc., a Texas corporation, on behalf of said corporation, and the corporation acknowwedged this instrument as the sole general partner of SCC Development, Ltd., a Texas limited partnership, and known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. otary u is m an or The State of Texas Page 9 of 10 o~rz~ss ps/c/feb9 6/LaCour. doc THE STATE OF TEXAS ) ACI{NOWLEDGMET~T COUNTY OF BRAZOS ) This instrument was acknowledged before me on 1996, by George K. Noe, City Manager of the City of College Station, a 'T'exas Municipal Corporation, on behalf of said corporation and known to me to ~e the person whose name is subscribed to the foregoing instrument, and acknowledged to me tYiat he executed the same for the purposes and consideration therein expressed. otary u is m an or The State of Texas Page 10 of 10 ovz~ss ps/c/feb96/LaGour. doc DEVELOPMENT AGREEMENT This Agreement is entered .into this the day of , 1996, by and among the CITY OF COLLEGE STATION, TEXAS, a Texas Home-Rule Municipal Corporation (hereinafter referred to as the "City"), LACOUR IIeTVESTMENTS, a Louisiana Limited Partnership (hereinafter referred to as "LaC;our"), and SCC DEVELOPMENT, LTD., a Texas Limited Partnership, or its assigns, (hereinafter referred to as "SCC"). WHEREAS, LaCour is the owner of a certain 4.339 acre tract and a certain. 7.891 acre tract, both in the Morgan Rector League, Brazos County, Texas, and being more fully depicted and described in the revised, proposed preliminary plat for L,aCour Subdivision, Phase One, attached hereto as Exhibit "A", incorporated herein by reff;rence, and hereinafter referred to as the "Preliminary Plat". WHEREAS, LaCour has proposed to sell, and SCC has agreed to buy, the: 4.339 acre tract, denominated as, and hereinafter referred to as, "Lot One" on the Preliminary Plat. WHEREAS, the City is interested in acquiring, by dedication, sufficient right-of way for a future extension of Kyle South Street. WHEREAS, SCC has agreed to grant the City a thirty foot (30') wide ":Private Access Easement" through Lot One, running from the most southerly corner of Lot One north and west through Lot One to Harvey Road and as on the Preliminary Plat. WHEREAS, SCC has also agreed, upon certain conditions, to grant Austaco, Inc., the owner of property adjacent and to the west of Lot One, a thirty foot (30') wide °'Private Access Easement" through Lot One, said easement being directly parallel with and adjacent to that portion of the most westerly property line of Lot One that is also the most easterly property line of Austaco, Inc. and overlapping a portion of the City's thirty Page 1 of 10 oz~oa~ss ps/c/feb9fiiLaCour. doc foot (30') "Private Access Easement" described above, and all as shown on the Preliminary Plat. WHEF:EAS, LaCour owes a significant amount of property taxes on both Lot One and the 7.891 acre tract, and LaCour is unable to pay those taxes prior to selling the properties and is thus unable to comply with City ordinance No. 1816, codified in the City°s Code of Ordinances at Chapter 9, Section 6-D.4.4, which requires deve;lopers seeking approval of a new subdivision plat to submit certificates from all taxing authorities showing payment of all ad valorem taxes on the property. WHEF:EAS, LaCour and SCC desire to comply with the City's Wolf Pen Creek Zoning Ordinance in other respects and have elected to comply with said ordinance by dedicating to the City the minimum reservation area required by Section 7.21D of the Zoning Ordinance, and as shown on Exhibit B. ImlOW, THEF:EFOF~E, for and in consideration of the recitations above and in consideration of the promises and covenants herein expressed, the parties hereby agree and covenant as follows: 1. LaCour agrees and does hereby donate to the. City the 5.100 acre tract, as depicted on the Preliminary Plat and hereinafter referred to as the "Wolf Pen Creek Dedication". 2. LaCour agrees to and shall dedicate to the City athirty-five foot (35°) wide right-of way (approximately acres) for the extension of Kyle Street South (hereinafter referred to as the "Kyle Street South Dedication") from the southernmost property line of the Wolf Pen Creek Dedication south to the southernmost property line of the '°lZeserve Tract for Future Development" (hereinafter referred to as the "F:eserve Tract°'), all as depicted on the Preliminary Plat. 3. LaCour and SCC agree and do hereby dedicate to the City a strip of land out of and along the southeast property line of Lot One. Said strip of land being twenty Page 2 of 10 ovo7iss ps/c/feb96/La Co ur. doc feet (20') wide, containing .295 acres, and as shown on the Preliminary Plat. This dedication is being made in compliance with, and fulfillment of, the requirements of the Wolf Pen Creek Zoning Ordinance. 4. SCC agrees to and shall grant the City and LaCour a thirty foot (30') wide "Private Access Easement" for maintenance and engineering purposes through Lot One, running from the most southerly corner of Lot One north and west through Lot One to Harvey Road and as depicted on the Preliminary Plat. In addition, SCC agrees that in the event Austaco, Inc., the property owner immediately to the west along Harvey Road, grees in writing to close its most easterly curb-cut/access driv onto Harvey Road, ~ !Austaco may use the northern portion of this Private Access Easement for access fi~om its „~ property through Lot One to Harvey Road. ~~~ L 5. Out of the proceeds of the sale of Lot One, LaCour agrees to and shall pay ~~( - _. ~~ all accrued ad valorem taxes, including any and all outstanding taxes for prior years and ~" ~ the accrued, pro-rata portion of taxes for the current year for Lot One, the Kyle Street South Dedication, and the Wolf Pen Creek Dedication. Within seven (7) days of the sale of Lot One, LaCour shall provide the City with certificates from all applicable taxing authorities showing payment of all ad valorem taxes, both for the current year and all past years, for Lot One, the Kyle Street South Dedication, and the Wolf Pen Creek Dedication. Until such time, the City agrees to temporarily waive the application of a section of City Ordinance No. 1816, codified in the City's Code of Ordinances at Chapter 9, Section 6- D.4,4, which requires developers, prior to approval and filing of a final plat, to submit certificates from all taxing authorities showing payment of all ad valorem taxes on the property. 6. Contemporaneous with the execution of this Agreement, LaCour agrees to and shall provide the City with either a federal bankruptcy court order authorizing the sale of the property subject to this Development Agreement, or in the alternative a. court- Page 3 of 10 02/01/96 ps/c/feb96/LaCour. doc approved plan of reorganization that authorizes LaCour to sell or otherwise dispose of this property. 7. The City agrees not to make any future assessments against the Reserve `Tract for the initial construction and extension, including the initial design and construction of associated drainage improvements, of Kyle Street South through the Reserve Tract. The City reserves the right, however, to make other future assessments against the Reserve Tract, including without limitation assessments for subsequent maintenance costs. 8. LaCour will designate on the final plat the area within Lot One for the right- of way for the future extension of Kyle Street South, which right-of--way shall ultimately be acquired by the City. 9. SCC agrees to incur and pay without recourse the costs of the design and construction documents for the initial construction of Kyle Street South through Lot One. In addition, the City will participate with SCC in an engineering study to determine the grade at which the extension of Kyle Street .South will need to be built in order to accommodate the design and construction of any required bridge as part of the extension ®f Kylc Street South. The costs for this grade study, only, shall be borne by and divided among the parties as follows: The City - 50%; SCC - 25%; and LaCour - 25%. 10. SCC agrees to construct within the designated right-of--way for the; future extension of Kyle Street South a roadway that meets the City's specifications for a "commercial collector". In consideration for SCC's construction of said roadway, the City agrees to make no further assessments, which would otherwise be allocated to SCC, for any additional improvements that the City may elect to make to the roadway. 11. SCC agrees to and shall grant to the City a right of access over said roadway for the purpose of the City's access, solely for maintenance and related purposes, to the Wolf Pen Creek Dedication. Page 4 of 10 -- 02/09096 ps/c/feb96/LaCour. doc 12. At such time that the City decides to extend Kyle Street South I-eyond (south of) Lot One, the City shall acquire the Kyle Street South right-of--way through Lot One, as designated on the final plat, from SCC at the contemporary fair market value of the property not including the roadway improvements thereon. 13. LaCour and SCC agree to and. shall provide the City with impact studies ~s~. ~e ,.y~y~pd '~} associated with the preliminary plat. LaCour and SCC agree to financially guarantee the costs of design and construction of a waterline from Harvey Road to the most southerly property line of Lot One and from Holleman to the most southerly property line of the Wolf Pen Creek Dedication. The form of this guarantee shall be a bond. from SC;C and cash--out of the closing proceeds--from LaCour. The basis for the amount of this guarantee shall be the difference between the entire cost of a waterline as required by the City less any oversize participation. granted by the City Council as set forth in the; City's subdivision regulations. LaCour and SCC agree that no plat of any portion of this property will be filed until this guarantee is posted with the City. 14. LaCour and SCC agree to comply at all times with all other applicable City ordinances and state and .federal laws affecting the use and development of the land described in the Preliminary Plat. 15. LaCour agrees to and shall pay fifty percent (50%) of the actual preparation costs of this Development Agreement in an amount up to, but not to exceed, two thousand five hundred dollars ($2,500.00). Costs incurred to date equal $ , of which fifty percent (50%) equals $ LaCour agrees that this $ plus fifty percent (50%) of any additional costs incurred, up to a total of $2,500.00, shall be paid to the City prior to submission of this Development Agreement to the City Council for approval. 16. It is understood and agreed that any failure to meet the terms and conditions of this Agreement terminates the Agreement. In such event, the City shall neither be Paige 5 of 10 02/01/96 ps/c/feb9 6/La Cour. doc obligated to waive or defer any of its ordinance requirements, nor refrain from assessing either Lot One or the Reserve Tract for the initial design and construction of Kyle Street South, nor, at the City's option, comply with any other term of this Agreement. 17. It is understood and agreed that the continued effectiveness oaf this Agreement and all its terms are dependent upon the occurrence of the proposed sale of Lot One from LaCour to SCC within one-hundred fifty (150) days of this Agreeme;nt. In the event that this proposed sale does not occur within onemhundred fifty (150) days of the date of this Agreement, the Agreement shall automatically terminate and have no :further force or effect whatsoever. 1 ~. LaCour hereby releases, relinquishes, and discharges the City, its off cars, agents, and employees from all claims, demands, and causes of action of every kind and character, including the cost of defense thereof, for any injury to or death of any person (whether employees of any party or other third parties) and any loss of or damage to property (whether property of the parties hereto or oi' third parties) that is caused by, alleged to be caused by, arising out of, or in connection with this Agreement or LaCour's work to be performed hereunder. This release shall apply regardless of whether or not said claims, demands, and causes of action are covered in whole or in part by insurance. 19. SCC hereby releases, relinquishes, and discharges the City, its oiEficers, agents, and employees from all claims, demands, and causes of action of every kind and character, including the cost of defense thereof, for any injury to or death of any person (whether employees of any party or other third parties) and any loss of or damage to property (whether property of the parties hereto or of third parties) that is caused by, alleged to be caused by, arising out of, or in connection with this Agreement or SCC's work to be performed hereunder. This release shall apply Page 6 of 10 _ 02/01/96 ps/c/feb96/LaCour. doc regardless of whether or not said claims, demands, and causes of action are covered in whole or in part by insurance. 20. LaCour agrees to and shall indemnify; hold harmless, and defend the City, its officers, agents, and employees from and against any and all claims, losses, damages, causes of action, suits, and liability of every kind, including all expenses of litigation, court costs, and attorney's fees, for injury to or death of any person, or for damage to any property, or for breach of contract, arising out of or in connection with this Agreement, the work to be performed hereunder, and the properties designated herein as the Kyle Street South Dedication, the Wolf Pen Creek Dedication and the Reserve Tract, regardless of whether such injuries, death, damages, or breach are caused in whole or in part by the negligence of the Ciry. 21. SCC agrees to and shall indemnify, hold harmless, and defend the City, its officers, agents, and employees from and against any and all claims, losses, damages, causes of action, suits, and liability of every kind, including all expenses of litigation, court costs, and attorney's fees, for injury to or death of any person,, or for damage to any property, or for breach of contract, arising out of or in connection -with this Agreement, the work to be performed hereunder, and the property designated herein as Lot One, including but not limited to the twenty foot (20') wide dedication to The City out of Lot One and the private access easements grarnted by this Agreement. This indemnification shall apply regardless of whether such injuries, death, damages, or breach are caused in whole or in part by the negligence of the City, but it shall not apply where such injuries, death, damages, or breach are caused in whole or in part by the negligence or intentional acts or omissions of LaCour. 22. It is understood that this Agreement shall be governed by, and construed and enforced in accordance with, and subject to, the laws of the State of Texas. The Page 7 of 10 02/01/96 ps/c/feb96/LaCour. doc parties agree that performance of this Agreement shall take place in Brazos County, Texas, and that venue shall lie in a court of competent jurisdiction in Brazos County, Texas. 23. The parties agree that they have read the terms of this Agreement and familiarized themselves with the requirements hereunder and agree that they understand their rights and responsibilities hereunder. 24. It is understood and agreed that this Agreement shall be binding upon and shall inure to the benefit of the parties and their respective heirs, lessees, representatives, successors, and assigns. 25. It is understood that this Agreement contains the entire agreement between the parties and supersedes any and all prior agreements, arrangements, or understandings between the parties relating to the subject matter. No oral understandings, statements, promises or inducements contrary to the terms of this Agreement exist. This Agreement cannot be changed or terminated unless in writing and agreed to by both parties. Dated this the day of , 1996. LACOZJR INVESTMENTS SCC, DEVELOPMENT, LTD. by SCC-GP, Inc., its sole General Partner By: By: s Fred J. Heyne III, CITY OF COLLEGE STATION BY: George K. Noe, City Manager Date Page 8 of 10 02/01/96 ps/cJfeb96/LaCour. doc APPROVED: Cathy Locke, City Attorney Glenn Schroeder, Executive Director of Fiscal and Human Resources THE STATE OF TEXAS ) COUNTY OF BRAZOS ) Date Date ACKNOWLEDGMENT This instrument was acknowledged before me on 1996, by as of LaCour InvestYrnents, a Louisiana Limited Partnership, on behalf of said partnership and known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. _ Notary Pu is m an or The State of Texas THE STATE OF TEXAS ) ACKNOWLEDGMENT COUNTY OF BRAZOS ) This instrument was acknowledged before me on , 1996, by Fred J. Heyne III, as of SCC-GP, Inc., a Texas corporation, on behalf of said corporation, and the corporation acknowwedged this instrument as the sole general partner of SCC Development, Ltd., a Texas limited partnership, and known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Notary Pu is m an or The State of Texas Page 9 of 10 02/01/96 ps/c/feb96/LaCour. doc TFIE STATE OF TEXAS ) ACKNOWLEDGMENT COUNTY OF BRAZOS ) This instrument was acknowledged before me on , 1996, by .George K. Noe, City Manager of the City of College Station, a Texas Municipal Corporation, on behalf of said corporation and known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Notary Pu is in an or The State of Texas Page 10 of 10 02/01/96 ps/c/feb96/LaCour. doc DEVELOPMENT AGREEMENT This Agreement is entered into this the day of , 1996, by and among the CITY OF COLLEGE STATION, TEXAS, a Texas Home Rule Municipal Corporation (hereinafter referred to as "CITY"), LACOUR INVESTMI~NTS, a Louisiana Limited Partnership (hereinafter referred to as "DEVELOPER"), anti SCC DEVELOPMENT CORPORATION, a corporation (hereinafter referred to as "BUYER"). WHEREAS, DEVELOPER is the owner of a certain 4.339 acre tract and a certain 4.734 acre tract, both in the Morgan Rector League, Brazos County, Texas, and being more fully depicted and described in the revised, proposed subdivision plat for L,aCour Subdivision, Phase One, attached hereto as Exhibit "A" and incorporated herc;in by reference. WHEREAS, DEVELOPER has proposed. to sell, and BUYER has agreed to buy, the 4.339 acre tract, denominated as, and hereinafter referred to as, "Lot One" on the revised, proposed LaCour Subdivision Plat, attached hereto as Exhibit A. WHEREAS, CITY is interested in acquiring, by dedication, sufficient right-of--way for a future extension of Kyle South Street. WHEREAS, BUYER has agreed to grant CITY a thirty foot (30') wide "private Access Easement" through. Lot One, running from the most southerly corner of Lot One north and west through Lot One to Harvey Road and as depicted in the revised, proposed plat for LaCour Subdivision, Phase One. WHEREAS, BUYER has also agreed to grant Austaco, Inc., the owner of property adjacent and to the west of Lot One, a thirty foot (30') wide "Private Access Easement" through Lot One, running from the most westerly property line of Lot One east to CITY's thirty foot (30') "Private Access Easement", as shown on the revised, proposed plat for LaCour Subdivision, Phase One. Page 1 of 10 01/02/96 ps/c/winword/dec95/LaCour. dot WHEREAS, DEVELOPER. owes a significant amount of property taxes on both Lot One and the 4.734 acre tract, and DEVELOPER is unable to pay those taxes prior to selling the properties and. is thus unable to comply with CITY ordinance No. 1816, codified in CITY's Code of Ordinances at Chapter 9, Section 6-D.4.4, which requires developers seeking approval of a new subdivision plat to submit certificates from all taxing authorities showing payment of all ad valorem taxes on the property. WHEREAS, DEVELOPER and BUYER desire to comply with CITY's Wolf Pen Creek Zoning Ordinance in other respects and have elected to comply with said ordinance by dedicating to CITY the minimum reservation area required by Section 7.21D of the Zoning Ordinance, and as shown on Exhibit B. NOW, THEREFORE, for and in consideration of the recitations above and in ,consideration of the promises and covenants herein expressed, the parties hereby agree and covenant as follows: 1. DEVELOPER agrees to and shall dedicate a seventy foot (70') wide right- of-way (approximately .558 acres) for the extension of Kyle Street South from the southernmost property line of .Lot One south to the southernmost property line of the "Reserve Tract for Future Development" (hereinafter referred to as the "Reserve Tract"), as depicted in the revised, proposed plat for LaCour Subdivision, Phase One, (hereinafter referred to as the "Kyle Street South Dedication"). 2. BUYER agrees. to and shall grant CITY and DEVELOPER thirty foot (30') wide "Private Access Easement" through Lot One, running from the most southerly corner of Lot One north and west through Lot One to Harvey Road and as depicted) in the revised, proposed plat for LaCour Subdivision, Phase One. In addition, BUYER agrees that Austaco, Inc., the property owner immediately to the west along Harvey Road, may use this Private Access Easement to gain access through Lot One to Harvey Road. Page 2 of 10 01/02/96 ps/c/winword/dec95/LaCour. doc 3. BUYER also agrees to and shall grant another thirty foot (30') wide "Private Access Easement" through Lot One that shall run from the most westerly property ]line of Lot One east to CITY and DEVELOPER's thirty foot (30') wide "Private Access Easement", described in paragraph two above, and as shown on the revised, proposed plat for LaCour Subdivision, Phase One. 4. DEVELOPER AND BUYER agree and do hereby dedicate to CITY a strip of land out of and along the southeast property line of Lot One. Said strip of land being twenty feet (20') wide, containing .295 acres, and as shown on the revised, proposed plat for LaCour Subdivision, Phase One. 5. DEVELOPER agrees and does hereby donate to CITY the 4.734 acre tract, as depicted on the revised, proposed plat for LaCour Subdivision, Phase One (hereinafter the "Wolf Pen Creek Dedication"). 6. Out of the proceeds of the sale of Lot One, DEVELOPER agrees to and shall pay all accrued ad valorem taxes, including any and all outstanding taxes for prior years and the accrued, pro-rata portion of taxes for the current year for Lot One, the Kyle Street South Dedication, and the Wolf Pen Creek Dedication. Within seven (7) dlays of the sale of Lot One, DEVELOPER shall provide CITY with certificates from all applicable taxing authorities showing payment of all ad valorem taxes, both i~or the current year and all past years, for Lot One, the Kyle Street South Dedication, a.nd the Wolf Pen Creek Dedication. Until such time, CITY agrees to temporarily waive the application of a section of CITY ordinance No. 1816, codified in CITY's Code of Ordinances at Chapter 9, Section 6-D.4.4, which requires developers, prior to approval and filing of a final plat, to submit certificates from all taxing authorities showing payment of all ad valorem taxes on the property. Contemporaneous with the execution of this Agreement, DEVELOPER agrees to and shall provide CITY with a copy of the plan Page 3 of 10 01/02/96 ps/c/winword/dec95/LaCour. doc of reorganization for DEVELOPER that was approved or ordered by the bankruptcy court. 7. CITY agrees not to make any future assessments against the Reserve; Tract for the initial construction and extension, including the initial design and construct;ion of associated drainage improvements, of Kyle South Street through the Reserve Tract. CITY reserves the right, however, to make other future assessments against the Reserve Tract, including without limitation assessments for subsequent maintenance costs. 8a DEVELOPER will designate by plat the area within Lot One for the: right- of-way for the future extension of Kyle South Street, which right-of--way shall ultimately be acquired by CITY . 9. BUYER agrees to incur and pay without recourse the costs of the design and construction documents for the initial construction of Kyle Street South through Lot One. In addition, CITY will participate with BUYER in an engineering study to determine the grade at which the extension of Kyle Street South will need to be built in order to accommodate the design and construction of any required bridge as part of the extension of Kyle Street South. The costs for this grade study, only, shall be divided evenly (50% each) between CITY and BUYER. 10. BUYER agrees to construct within the designated right-of--way iFor the future extension of Kyle Street South a roadway that meets CITY's specifications for a "commercial collector". In consideration for BUYER's construction of said roadway, CITY agrees to make no further assessments, which would otherwise be allocated to BUYER, for any additional improvements that CITY may elect to make to the roadway. 11. BUYER .agrees to and shall grant to CITY a right of access over said roadway for the purpose of CITY's access, for maintenance purposes, to Wolf Pen Creek. 12. At such. time that CITY decides to extend Kyle Street South beyond. (south of) Lot One, CITY shall acquire the Kyle Street South right-of--way through Lot One, as Page 4 of 10 01/02/96 ps/c/winword/dec95/LaCour. doc designated on the plat, from BUYER at the contemporary fair market value of the property not including the roadway improvements thereon. 13. DEVELOPER and BUYER agree to and shall provide CITY with impact studies associated with the preliminary plat. DEVELOPER and BUYER agree to financially guarantee the costs of design and construction of a waterline from Harvey Road to the most southerly property line of Lot One and from Holleman to the; most southerly property line of the Wolf Pen Creek Dedication. DEVELOPER and BjJYER agree that no plat of any portion of this property will be filed until this guarantee is posted with CITY. The basis for this guarantee shall be the difference between the entire cost of a waterline as required by CITY less .any .oversize participation granted by the City Council as set forth in CITY's subdivision regulations. 14. DEVELOPER and BUYER agree to comply at all times with all other applicable CITY ordinances and state and federal laws affecting the use and development of the land described in the proposed plat for LaCour Subdivision, Phase One. 15. CITY agrees to waive fifty percent (50%) of the costs of preparing this Development Agreement. DEVELOPER agrees to and shall pay the remaining fifty percent (50%) of the actual preparation costs in an amount up to, but not to exceed, two thousand five hundred dollars ($2,500.00). Costs incurred to date equal $2,462„00, of which fifty percent (50%) equals $1,231.00. DEVELOPER agrees that this $1,:231.00 plus fifty percent (50%) of any additional costs incurred, up to a total of $2,500.00, shall be paid to CITY prior to submission of this Development Agreement to the City Council for approval. 16. It is understood and agreed that any failure to meet the terms and conditions of this Agreement terminates the Agreement. In such event, CITY shall neither be obligated to waive or defer any of its ordinance requirements, nor refrain from assessing Page 5 of 10 01/02/96 ps/c/winword/dec95/LaCour. doc either Lot One or the Reserve Tract for the initial design and construction bf Kyle South Street, nor, at CITY's option, comply with any other term of this Agreement. 17. It is understood and agreed that the continued effectiveness of this Agreement and all its terms are dependent upon the occurrence of the proposed sale of Lot One from DEVELOPER to BUYER within ninety (90) days of this Agreement. In the event that this proposed sale does not occur within ninety (90) days of the date of this Agreement, the Agreement .shall automatically terminate and have no further force or effect whatsoever. 18. By this Agreement, CITY does not consent to litigation or suit of any kind, and the CITY hereby expressly revokes any consent to litigation that it may have granted by the terms of this Agreement, charter, or applicable state law. DEVELOPER and BUYER hereby release, relinquish, and discharge the CITY, its officers, agents, and employees from all claims, demands, and causes of action of every kind and character, including the cost of defense thereof, for any injury to or death of any person (whether they be one of the parties to this Agreement, third parties, or employees of either of the parties hereto) and any loss of or damage to property (whether property of the parties hereto or of third parties) that is c;aused by, or alleged to be caused by, arising out of, or in connection with this Agreement or DEVELOPER's or BUYER's work to be performed hereunder. This release shall apply regardless of whether or not said claims, demands, and causes of action are covered in whole or in part by insurance. 19. DEVELOPER agrees to and shall indemnify, hold harmless, and defend CITY, its officers, agents, and employees from and against any and all claims, losses, damages, causes of action, suits, and liability of every kind, including all expenses of litigation, court costs, and attorney's fees, for injury to or death of any person, or for damage to any property, or for breach of contract, arising out of Page 6 of 10 ovovss ps/c/winword/dec95/LaCour. doc or in connection with this Agreement, the work to be performed hereunder, and the properties designated herein as the Kyle Street South Dedication, the Wolf Pen Creek Dedication and the Reserve Tract, regardless of whether such injuries, death, damages, or breach are caused in whole or in part by the negligence of CITY. 20. BUYER agrees to and shall indemnify, hold harmless, and dlefend CITY, its officers, agents, and employees from and against any and all claims, Mosses, damages, causes of action, suits, and liability of every kind, including all expenses of litigation, court costs, and attorney's fees, for injury to or death of any person, or for damage to any property, or for breach of contract, arising out of or in connection with thus Agreement, the work to be performed hereunder, and the property designated herein as Lot One, including but not limited to the thirty foot (30';) wide dedication to CITY out of Lot One and all Private Access Easements through Lot One. This indemnification shall apply regardless of whether such injuries, death, damages, or breach are caused in whole or in part by the negligence of CITY, but it shall not apply where such injuries, death, damages, or breach are caused an whole or in part by the negligence or intentional acts or omissions of DEVELOPER. 21. It is understood that this Agreement shall be governed by, and construed and enforced in accordance with, and subject to, the laws of the State of Texas. The parties agree that performance of this Agreement shall take place in Brazos County, Texas, and that venue shall lie in a court of competent jurisdiction in Brazos County, Texas. 22. The parties agree that they have read the terms of this Agreement and familiarized themselves with the requirements hereunder and agree that they understand their rights and responsibilities hereunder. Page 7 of 10 01/02/96 ps/c/win word/dec95/LaCour. doc 23. It is understood and agreed that this Agreement shall be binding upon and shall inure to the benefit of the parties and their respective heirs, lessees, representatives, successors, and assigns. 24. It is understood that this Agreement contains the entire agreement between the parties and supersedes any and all prior agreements, arrangements, or understandings between the parties relating to the subject matter. No oral understandings, statements, promises or inducements contrary to the terms of this Agreement. exist. This Agreement cannot be changed or terminated unless in writing and agreed to by both parties. IN WITNESS WHEREOF, THE PARTIES HAVE EXECUTED THIS AGREEMENT ON THE day of LACOUR INVESTMENTS, INC. By: CITY OF COLLEGE STATION BY: George K. Noe, City Manager APPROVED: Cathy Locke, City Attorney Glenn Schroeder, Executive Director of Fiscal and Human Resources Page 8 of 10 1996. SCC DEVELOPMENT CORPORATION By: Date Date Date 01/02/96 ps/c/winword/dec95/LaCour. doc THE STATE OF TEXAS. ) ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this day personally appeared as of LaCour Investments, a Louisiana Limited Partnership, on behalf of said partnership and known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office on this the dray of .1996. Notary Pu is in an or The State of Texas THE STATE OF TEXAS ) ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this day personally appeared as of SCC Development Corporation, a corporation, on behalf of said corporation and known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office on this the d.ay of 1996. Notary Pub is in an or The State of Texas Page 9 of 10 o~/ovss ps/c/winword/dec95/La Cour. doc ° ;] THE STATE OF TEXAS ) ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this day personally appeared George K. Noe, City Manager of the City of College Station, a Texas Municipal Corporation, on behalf of said corporation and known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same f'or the purposes and consideration therein expressed. Given under my hand and seal of .office on this the day of 1996. Notary Pu is in and or The State of Texas Page 10 of 10 ovovss ps/c/winword/dec95/La Cour. doc -DRAFT- DEVELOPMENT AGREEMENT This Agreement is entered into this the day of , 1995, by and among the CITY OF COLLEGE STATION, TEXAS, a Texas Home Rule Municipal Corporation (hereinafter referred to as "CITY"), LACOUR INVESTMENTS, INC., a corporation (hereinafter referred to as "DEVELOPER"), AUSTACO, INC., a corporation (hereinafter referred i:o as "AUSTACO"), .and TEXAS AGGIE CREDIT UNION (hereinafter referred 'ao as "BUYER'°). WHEREAS, DEVELOPER is the owner of arse s o and, a `'~ ~`~ certain 4.339 acre tract and a certain ~ acre tract, both in the Morgan F2ector League, Brazos County, Texas, and being more fully depicted and described in the proposed subdivision plat for LaCour Subdivision, Phase One, attached herEao as Exhibit "A" and incorporated herein by reference. WHEREAS, AUSTACO is the owner of a certain .80 acre tract denominatted as "Lot One" in a deed recorded in Volume 498, Page 160 of the Deed Records of E3razos County, Texas, and said .80 tract is contiguous with a portion of DEVELOPER's 4.339 acre tract. WHEREAS, DEVELOPER has proposed to sell, and BUYER has agreed to buy, the 4.339 acre tract, denominated as Lot. One of the proposed LaCour Subdivision Plat, _~_ ~~ ~~ ~ ~s .~~;~~ attached hereto as Exhibit A. WHEREAS, CITY is interested in acquiring, by dedication, sufficient right-~~f-way ~~~ for a future a 'ension of Kyle South Street through bo#h the . -acre tract and . ~~ _ re tract. WHEREAS, in order to eliminate a dangerous access onto Harvey Road, CITY and AUSTACO wish to close the most easterly driveway access from Harvey Road into AUSTACO's tract. 03/14i95 ps/c/winwora'/agreement/LaCour page 1 of 8 _DRAFT- WHEREAS, DEVELOPER. and :BUYER have agreed to grant AUSTAt;O a private access easement through the 4.339 .acre tract to i l ~ ~( GLj-~~. C.~ C~~~.~ p -~ P WHEREAS, DEVELOPER owes a significant amount of property taxes on both a~.~~ the 4.339 acre tract and the . acre tract, and DEVELOPER is unable to pay ithose taxes prior to selling the properties and thus unable to comply with CITY ordinance No. 1816, codified in CITY's Code of Ordinances at Chapter 9, Section 6-D.4.4, ~ivhich requires developers seeking approval of a new subdivision plat to submit certificates from all taxing authorities showing payment of all ad valorem taxes on the property. WHEREAS, DEVELOPER has also requested that CITY temporarily waive certain dedication and development requirements for drainage and pedestrian access set forth in CITY ordinance no. 1638, the "Zoning Ordinance", subsections 7.21 D ~~ E. NOW, THEREFORE, for and in consideration of the recitations above a.nd in consideration of the promises and covenants herein expressed, the parties. hereby agree and covenant as follows: 1. DEVELOPER agrees to and shall convey the ..558 acre tract to the CITY for future right-of-way to extend Kyle South Street.. 2. DEVELOPER and BUYER agree and shall grant AUSTACO a thirty foot (30') wide access easement from a point in the common oundary line between the 4.339 acre tract and AUSTACO's adjacent property =~ -~- ems. ~;>~~~y tl-a~ ~~-~f~_esa-on+., u_._ _ ; ~ _® ._ _ y ~~~ . ._~~ r ®~ .. .~ .. ~ war. _ __W. i __ tV _ /1~T/1 ~_~~ -__ ~l~ N 3. DEVELOPER D B YER agree and shall a thirty foot (30') ~. ~C,~d~ wide access easement l :558 acre across and c~- through the 4.339 acre tract to a point of access. onto Harvey Road. This easement shall be located as depicted on the proposed final .plat of LaCour Subdivision, Phase 03/14195 ps/c~4vinword/agreement/LaCour page2of8 -DRAFT- Ones c~ifl ..w _ a~ser-~e~ .. oc . rne~ " hirr ~ ,~'_ 4. AUSTACO agrees. to and shall close and permanently cease to use its most easterly curb cut and access from its property onto Harvey Road. 5. DEVELOPER AND BUYER agree, and within twelve (12) months of the approval of the plat for LaCour Subdivision, Phase One, the owner of the 4.339 acre tract, whether DEVELOPER OR BUYER, shall convey to CITY a .586 acre, seventy foot (70') right-of-way out. of and through the 4.339 acre tract for future street dedication and as depicted on the proposed plat for LaCour Subdivision, Phase One. 6. Within seven. (7) days of the sale of the 4.339 acre tract by DEVELOPER or within twelve (12) months of the date of approval of the plat for LaCour Subdivision, Phase One, whichever occurs first, DEVELOPER shall provide CITY with certificates from all applicable taxing agencies shwin ayment of all ad valorem t es, Moth or ~~ the current year and all past years Until such time, CITY agrees to temporarily waive ~-~ . ~~.~`°,. the application of a section of CITY ordinance No. 1816, codified in CITY's Code of Ordinances at Chapter 9, Section 6-D.4.4, which requires developers seeking approval of a new subdivision plat to submit with the filing of the final plat certificates fr+~m all taxing authorities showing payment of all ad valorem taxes on the property. Contemporaneous with the execution of this Agreement, DEVELOPER agrees t.o and shall provide CITY with a copy of the plan ~f reorganization for DEVELOPER that was approved or ordered by the bankruptcy court. 7. CITY agrees not to make any future assessments against either the 4.339 ~. ~ l acre tractor the tract for the initial construction and extension of Kyle South Street through these two tracts. CITY reserves the righ# to make other assessments against these properties for other allowable construction and development costs, including without limitation any subsequent main#enance costs-,~c1 ~~ ~•••^' ~ ^^^ ~r~ ~^~~^^ ^^ct . 03/14/95 ps/c~Winword/agreement/LaCour page 3 of 8 -DRAFT 8. CITY agrees to incur and pay for the design costs and costs of preparing construction documents for the initial construction and extension of Kyle South Street. 9. Within five (5) years of the date of this Agreement or as soon as CITY appropriates suffic'ent funds for park improvements, whichever occurs first, t DEVELOPEDshall ful comply with the dedication and development requirementts for drainage and pedestrian access set forth in CITY ordinance no. 1638, the "Zoning Ordinance", subsections 7.21 D & E. Until such time, CITY agrees to temporarily waive the application of only these subsections of this ordinance to the land described iri and subject to the proposed pla# for LaCour Subdivision, Phase One. 10. CITY agrees to waive fifty percent (50%) of the costs of preparinct this Development Agreement. DEVELOPER agrees to and shall pay the remainincl fifty percent (50%) of the preparation costs. 11. It is understood and agreed that any failure to meet the terms and conditions of this Agreement terminates the Agreement. In such event, CITY shall neither be obligated to waive or defer any of its ordinance requirements, nor refrain from assessing the 4.339 acre tracor the initial construction of Kyle South Street:, nor, at CITY's option, comply with any other term of this Agreement. 12. It is understood that this Agreement shall be governed by, and construed and enforced in accordance with, and subject to, the laws of the State of Texas. The parties agree that performance of this Agreement shall take .place in Brazos County, Texas and that venue shall lie in a court of competent jurisdiction in Brazos County, Texas. 13. The parties agree that they have read the terms of #his Agreement and familiarized themselves with the requirements hereunder and agree that they understand their rights and responsibilities hereunder. o~/~a~se ps/chvinword/agreement/LaCour page 4 of 8 -DRAF`I'- 14. It is understood and agreed that this Agreement shall be binding upon and shall inure to the benefit of the parties and their respective heirs, lessees, representatives, successors, and assigns. 15. It is understood that this Agreement contains the entire agreement between the parties and supersedes any and all prior agreements, arrangements, or understandings between the parties relating to the subject matter.. No oral understandings, statements, promises or inducements contrary to the terms of this Agreement exist. This Agreement cannot be changed or terminated unless in writing and agreed to by both parties. 16. By this Agreement, CITY does- not consent to litigation or suit of any kind, and the CITY hereby expressly revokes any consent to litigation that it; may have granted by the terms of this Agreement, charter, or applicable state law. DEVELOPER, BUYER, and AUSTACO assume full responsibility for the work to be performed hereunder and hereby release, relinquish, and discharge the CITY, its officers, agents, and employees from alt claims, demands, and causes of action of every kind and character, including the cost of defense thereof, fair any injury to or death of any person (whether they be one of the parties tc- this Agreement, third parties, or employees of either of the parties hereto) an~i any loss of or damage to property (whether the same be that either of the parties hereto or of third parties) that is caused by, or alleged to be caused by, airising out of, or in connection with DEVELOPER's, BUYER's, or AUSTACO's work to be performed hereunder, whether or not said claims, demands, and causes of action are covered in whole or in part by insurance. 17. In the event of litigation, DEVELOPER agrees to and shall pay alll of the attorney's fees, court costs, and other litigation costs of CITY. 18. DEVELOPER agrees to and shall indemnify and hold harmless CITY, its officers, agents, and employees from and .against any and all claims, losses, o~/~a~s3 ps/c/winword/agreement/LaCour page 5 of 8 -DRAFT- damages, causes of action, suits, and Liability of every kind, including all expenses of litigation, court costs, and attorney's fees, for injury to or death of any person,. or for damage to any property, or for breach of contract, arising out of or in connection with this Agreement, regardless of whether such injuries, death, damages, or .breach are caused in whole or in part by the negligernce of CITY. 1N WITNESS WHEREOF, THE PARTIES HAVE EXECUTED THIS AGREEMENT ON THE day of , 1995. LACOUR INVESTMENTS, INC. TEXAS AGGIE CREDIT UNION By. By: AUSTACO, INC By: CITY OF COLLEGE STATION BY: Tom Brymer, Interim City Manager APPROVED: Cathy Locke, City Attorney Glenn Schroeder, Executive Director of Fiscal and Human Resources 03/14/95 ps/cJwinword/agreement/LaCour Date Date Date page 6 of 8 -DRAFT- THE STATE OF TEXAS ) ACKNOWLEDGMENT COUNTY OF BRAZOS Before me, the undersigned authority, on this day personally appeared as of LaCour Investments, Inc. known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office on thin the day of 1995. Notary .Public in and for The State of Texas THE STATE OF TEXAS ) ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this day personally appeared as of Texas Aggie Credit Union known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office on this the day of 1995. Notary Public in and for The State of Texas THE STATE OF TEXAS ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this .day personally appeared as of Austaco, Inc. known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office on this the day of 1995. Notary Public in and for The State of Texas 03N4~95 ps/c/winword/agreement/LaCour page 7 of 8 DRAFT- THE STATE OF TEXAS ~ ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this day personally appeared Tom Brymer, Interim City Manager of the City of College Station, a Texas Municipal Corporation, known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he :executed the same for the purposes and consideration therein. expressed. Given under my hand and seal of office on this the day of 1995. Notary Public in and for The State of Texas 03/1M95 ps/aWinword/agreement/LaCour page 8 0# 8 -DRAFT-No. 2 DEVELOPMENT AGREEMENT This Agreement is entered into this the day of , 1995, by and among the CITY OF COLLEGE STATION, TEXAS, a Texas HomE; Rule Municipal Corporation (hereinafter referred to as "CITY"}, LACOUR INVESTMI=NTS, INC., a corporation (hereinafter referred to as "DEVELOf~ER"), AUSTACO, INC., a corporation (hereinafter referred to as "AUSTACO"), and TEXAS AGGIE CREDIT UNION (hereinafter referred to as "BUYER°'). WHEREAS, DEVELOPER is the owner of a certain 4.339 acre tract and a certain 7.891 acre tract, both in the Morgan Rector League, Brazos County, Texas, and being more fully depicted and described in the proposed subdivision plat for LaCour Subdivision, Phase One, attached hereto as Exhibit "A" and incorporated herein by reference. WHEREAS, AUSTACO is the owner of a certain .80 acre tract denominated as "Lot One" in a deed recorded in Volume 498, Page 160 of the Deed Records of Brazos County, Texas, and said .80 tract. is contiguous with a portion of DEVELOPER's 4.339 acre tract. WHEREAS, DEVELOPER has proposed to sell, and BUYER has agreed to buy, the 4.339 acre tract, denominated as Lot One of the proposed LaCour Subdivisioin Plat, attached hereto as Exhibit A. WHEREAS, CITY is interested in acquiring, by dedication, sufficient right-~f-way for a future extension of Kyle South Street through both the 4.339 acre tract and the 7.891 acre tract. WHEREAS, in order to eliminate a dangerous access onto Harvey Road, CITY and AUSTACO wish to close the most easterly driveway access from Harvey Road into AUSTACO's tract. 03/1anJ5 ps/ctivinword/agreemenf/LaCour page 1 of 8 -DRAFT-No. 2 WHEREAS, DEVELOPER and BUYER have agreed to grant AUSTACO a private access easement through the 4.339 acre tract to the thirty foot (30') "Private Access Easement" as shown on the proposed plat for LaCour Subdivision, Phase One. WHEREAS, DEVELOPER owes a significant amount of property taxes on both the 4.339 acre tract and the 7.891 acre tract, and DEVELOPER is unable to pay those taxes prior to selling the properties and thus unable to comply with CITY ordinance No. 1816, codified in CITY's Code of Ordinances at Chapter 9, Section 6-D.4.4, which requires developers seeking approval of a new subdivision plat to submit certificates from all taxing authorities showing payment of all ad valorem taxes on the property. WHEREAS, DEVELOPER has also requested that CITY temporarily waive certain dedication and development requirements for drainage. and pedestrian access set forth in CITY ordinance no. 1638, the "Zoning Ordinance", subsections 7.21 D & E. NOW, THEREFORE, for and in consideration of the recitations above .and in consideration of the promises and covenants herein expressed, the parties hereby agree and covenant as follows: 1. DEVELOPER agrees to and shall the .558 acre tract to thE: CITY for future right-of-way to extend Kyle South Street. ~ ce- ~ 2. .~ BUYER agree and sha rc~ ant _ STACO a thirty foot t (30') wide access easement from a point in the common boundary Fine between the ~ o 4.339 acre tract and AUSTACO's adjacent property to the thirty foot (30') "Private Access Easement" as shown on the proposed plat of LaCour Subdivision, Phase One. ~~ i_JT'TR~TVTT 3. ^~"'-J "~"" ^ "'^ BUYER agree and shall plat a thirty foot (30') wide access easement from the .558 acre right-of way dedication for Kyle South Street (out of the 7.891 acre tract) across and through the 4.339 acre tract to a point of ~~ccess onto Harvey Road. This easement shall be located as depicted on the proposed final plat of LaCour Subdivision, Phase One. 03/15/J5 ps/c/winword/agreemenf/LaCour page 2 of 8 -DRAFT-No. 2 4. AUSTACO agrees to and shall close and permanently cease to ease its ~ ; most easterly curb cut and access from its property onto Harvey Road. C`~ ° ~ ~ ~ ~f~ 5. DEVELOPER AND BUYER agree, and within twelve (12) months of the ~~ ~ C~ ~~ approval of the plat for LaCour Subdivision, Phase Onehe owner of the 4.33! acre n e~' tract, whether DEVELOPER OR BUYER, shall cow to CITY a .586 acre, seventy ®~ foot (70') right-of-way out of and through the 4.339 acre tract for future street dediication ®~ and as depicted on the proposed plat for LaCour Subdivision, Phase One. ~ ~ 6. Within seven (7) days of the sale of the 4.339 acre tract by DEVELOPER or within twelve (12) months of the date of approval of the plat for LaCour Subdivision, Phase One, whichever occurs first, DEVELOPER shall provide CITY with certifficates from all applicable taxing agencies showing payment of all ad valorem taxes, both for the current year and all past years for the .558 acre right-of-way dedication aind the 4.339 acre tract. Until such time, CITY agrees to temporarily waive the application of a section of CITY ordinance No. 1816, codified in CITY's Code of Ordinances at Chapter 9, Section 6-D.4.4, which requires developers seeking approval of a new subdivision plat to submit with the filing of the final plat certificates from all taxing autriorities showing payment of all ad valorem taxes on the property. Contemporaneous with the execution of this Agreement, DEVELOPER agrees to and shall provide CITY with a copy of the plan of reorganization for DEVELOPER that was approved or ordered by the bankruptcy court. 7. CITY agrees not to make any future assessments against either the 4.339 acre tractor the 7.891 acre tract for the initial con tr ction and extension of Kyle South w Street through these two tracts CITY reserves the right to make other assessments against these properties for other allowable construction and development costs, including without limitation any subsequent maintenance costs. 8. CITY agrees to incur and pay for the design costs and costs of preparing construction documents for the initial construction and extension of Kyle South Street. 03/1535 ps/ciWinword/agreement/LaCour page 3 of 8 -DRAFT-No. 2 9. Within five (5) years of the date of this Agreement or as soon as CITY appropriates sufficient funds for park improvements, whichever occurs first, DEVELOPER shall fully comply with the dedication and development requiremennts for drainage and pedestrian access set forth in CITY ordinance no. 1638, the "~'_oning Ordinance", subsections 7.21 D & E. Until such time, CITY agrees to temporarily waive the application of only these subsections of this ordinance to the land described in and subject to the proposed plat for LaCour Subdivision, Phase One. 10. CITY agrees to waive fifty percent (50%) of the costs of preparing this Development Agreement. DEVELOPER agrees to and shall ~~the i-e~m 'nir~g fifty percent (50%) of the preparation costs. 11. It is understood and agreed that any failure to meet the terms and conditions of this Agreement terminates the Agreement. In such event, CITti' shall neither be obligated to waive or defer any of its ordinance requirements, nor refrain from assessing either the 4.339 acre tract or the 7.891 acre tract for the initial construction of Kyle South Street, nor, at CITY's option, comply with any other term of this Agreement. 12. It is understood that this Agreement shall be governed by, and construed and enforced in accordance with, and subject to, the laws of the State of Texas. The parties agree that performance of this Agreement shall take place in Brazos County, Texas and that venue shall lie in a court of competent jurisdiction in Brazos County, Texas. 13. The parties agree that they have read the terms of this Agreement and familiarized themselves with the requirements hereunder and agree thatt they understand their rights and responsibilities hereunder. 14. It is understood and agreed that this Agreement shall be binding upon and shall inure to the benefit of the parties and their respective heirs, lessees, representatives, successors, and assigns. 03/1x/95 ps/ciWinword/agreement/LaCour page 4 of 8 -DRAFT-No. 2 15. It is understood that this Agreement contains the entire agreement between the parties and supersedes any and all prior agreements, arrangemeints, or understandings between the parties relating to the subject matter. Nc~ oral understandings, statements, promises or inducements contrary to the terms of this Agreement exist. This Agreement cannot be changed or terminated unless in writing and agreed to by both parties. 16. By this Agreement, CITY does not consent to litigation or suit •of any kind, and the CITY hereby expressly revokes any consent to litigation that iit may have granted by the terms of this Agreement, charter, or applicable state law. DEVELOPER, BUYER, and AUSTACO assume full responsibility for the work to be perFormed hereunder and hereby release, relinquish, and discharge the CITY, its officers, agents,. and employees from all claims, demands, and causes of action of every kind and character, including the cost of defense thereof, f~~r any injury to or death of any person (whether they be one of the parties too this Agreement, third parties, or employees of either of the parties hereto) anid any loss of or damage to property {whether the same be that either of the ~~arties hereto or of third parties) that is caused by, or alleged to be caused by, airising out of, or in connection with DEVELOPER's, BUYER°s, or AUSTACO's work: to be perFormed hereunder, whether or not said claims, demands, and causes of Faction are covered in whole or in part by insurance. 17. In the event of litigation, DEVELOPER agrees to and shall pay all of the attorney's fees, court costs, and other litigation costs of CITY. 18. DEVELOPER agrees to and shall indemnify and hold harmless CITY, its officers, agents, and employees from and against any and all claims, losses, damages, causes of action, suits, and liability of every kind, includiing all expenses of Litigation, court costs, and attorney's fees, for injury to or death of any person, or for damage to any property, or for breach of contract, arising out 03/15~J5 ps/chvinword/agreement/LaCour page5of8 -DRAFT-No. 2 of or in connection with this Agreement, regardless of whether such injuries, death, damages, or breach are caused in whole or in part by the neglige~~ce of CITY. IN WITNESS WHEREOF, THE PARTIES HAVE EXECUTED THIS AGREEMENT ON THE day of , 1995. LACOUR INVESTMENTS, INC. By: AUSTACO, INC. By: CITY OF COLLEGE STATION BY: Tom Brymer, Interim City Manager APPROVED: Cathy Locke, City Attorney Glenn Schroeder, Executive Director of Fiscal and Human Resources 03/15/95 ps/c/winword/agreement/LaCour TEXAS AGGIE CREDIT UNION By: Date Date Date page 6 of 8 -DRAFT-No. 2 THE STATE OF TEXAS ) ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this day personally ap~~eared as of LaCour Investments, Inc. known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office on this the dlay of 1995. Notary Public in and for The State of Texas THE STATE OF TEXAS ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this day personally ap~~eared as of Texas Aggie Credit Union known to me to be the person whose name is subscribed to the foregoing instri.ament, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand .and seal of office on this the dlay of 1995. Notary Public in and for The State of Texas THE STATE OF TEXAS ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this day personally ap~~eared as of Austaco, Inc. known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office on this the day of 1995. Notary Public in and for The State of Texas 03/15nJ5 ps/c/winword/agreement/LaCour page 7 of 8 -DRAFT-No. 2 THE STATE OF TEXAS ) ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this day personally appeared Tom Brymer, Interim City Manager of the City of College Station, a Texas Municipal Corporation, known to me to be the person whose name is subscribed to the forE~going instrument, and. acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office on this the clay of 1995. Notary Public in and for The State of Texas 03/15/95 ps/cNvinword/agreemenf/LaCour page8of8 -DRAFT-No. 3 DE1/ELOPMENT AGREEMENT This Agreement is entered into this the day of , 1995, by and among the CITY OF COLLEGE STATION, TEXAS, a Texas HomE; Rule Municipal Corporation {hereinafter referred to as "CITY"), LACOUR INVESTMI=NTS, ~~~_ nnrr~nro~inr~~ a Louisiana Limited Partnership (hereinafter referred to as "DEVELOPER"), AUSTACO, INC., a corporation (hereinafter referred to as "AUSTACO"), and TEXAS AGGIE CREDIT UNION (hereinafter referred to as "BUYER"). WHEREAS, DEVELOPER is the owner of a certain 4.339 acre tract ;and a certain 7.891 acre tract, both in the Morgan Rector League, Brazos County, Texas, and being more fully depicted and described in the proposed subdivision plat for LaCour Subdivision, Phase One, attached hereto as Exhibit "A" and .incorporated herE:in by reference. WHEREAS, AUSTACO is the owner of a certain .80 acre tract denominated as "Lot One" in a deed recorded in Volume 498, Page 160 of the Deed Records of E3razos County, Texas, and said .80 tract is contiguous with a portion of DEVELOPER's 4.339 acre tract. WHEREAS, DEVELOPER has proposed. to sell, and BUYER has agreed to buy, the 4.339 acre tract,. denominated as Lot One of the proposed LaCour Subdivision Plat, attached hereto as Exhibit A. WHEREAS, CITY is interested in acquiring, by dedication, sufficient right-of-way for a future extension ofi Kyle South Street through both the 4.339 acre tract and the 7.891 acre tract. WHEREAS, in order to eliminate a dangerous access onto Harvey Road, CITY and AUSTACO wish to close the most easterly driveway access from Harvey Road into AUSTACO's tract. 03/28/J5 ps/c/tvinword/agreement/LaCour page 1 of 9 -DRAFT-No. 3 WHEREAS, DEVELOPER and BUYER .have agreed to grant AUSTACO a private access easement through the 4.339 acre tract to the thirty foot (30') "Private Access Easement" as shown on the proposed plat for LaCour Subdivision, Phase One. WHEREAS, DEVELOPER owes a significant amount of property taxes on both the 4.339 acre tract. and the 7.891 acre tract, and DEVELOPER is unable to pay those taxes prior to selling the properties and thus unable to comply with CITY ordinance No. 1816, codified in CITY's Code of Ordinances at Chapter 9, Section 6-D.4.4, which requires developers seeking approval of a new subdivision plat to submit certificates from all taxing authorities showing payment. of all ad valorem taxes on the property. WHEREAS, DEVELOPER has also requested that CITY temporarily waive certain dedication and development requirements for drainage and pedestrian 2~ccess set forth in CITY ordinance no. 1638, the "Zoning Ordinance", subsections 7.21 D & E. NOW, THEREFORE, for and in consideration of the recitations above and in consideration of the promises and covenants herein expressed, the parties hiereby agree and covenant as follows: 1. DEVELOPER agrees to and .shall dedicate seamy the .558 acre tract to the CITY for future right-of-way to extend Kyle South Street. 2 nw~i na~Q ~n~ BUYER agrees and shall grant AUSTACO a thiriry foot (30°) wide. access easement from a point in the common boundary line betweE~n the 4.339 acre tract and AUSTACO's adjacent property #o the thirty foot {30') "Private Access Easement" as shown on the proposed plat of LaCour Subdivision, Phase One. 3. DEVELOPER AND BUYER agree and shall dedicate to CITY a~ thirty foot (30') wide access easement from the .558 acre right-of way dedication for Kyle South Street (out of the 7.891 acre tract) across and .through the 4.339 acre tract to a point of access onto Harvey Road. This easement shall be located as depicted on the proposed final plat of LaCour Subdivision, Phase One.. 03/28/95 pslc/winword/agreement/La Cour page 2 of 9 -DRAFT-No. 3 4. Within thirty (30) days of the date BUYER receives a certifici~te of occupancy for the proposed improvements to be constructed on the 4.339 acres tract, AUSTACO agrees to and shall close and permanently cease to use its most easterly curb cut and access from its property onto Harvey Road . 5. DEVELOPER AND BUYER agree, and within twelve (12) months of the approval of the frnal plat for LaCour Subdivision, Phase One, the owner of the 4.339 acre tract, whether DEVELOPER OR BUYER, shall dedicate ser~ve-y to CITY <~ .586 acre, seventy foot (70') right-of-way out of and through the 4.339 acre tract for future street dedication and as depicted on the proposed plat for LaCour Subdivision, (Phase One. 6. Out of the proceeds of the sale of the 4.339 acre tract by DEVELOPER to BUYER, DEVELOPER agrees to and shall pay all accrued ad valorem taxes, pro-rata for the current year and for any and all outstanding taxes for prior years, for bath the 4.339 acre tract and the .558 right-of-way dedication. Within seven (7) days of the sale of the 4.339 acre tract +~," f1GVCl lIDGD nr wi+hin +, a, ,o /'I 1 mnn+h.~~nf +ho ~~ DEVELOPER shall provide CITY with certificates from all applicable taxing agencies showing payment of all ad valorem taxes, both for the current year and all past years #or the .558 acre right-of-way dedication and the 4.339 acre tract. Until such time, CITY agrees to temporarily waive the application of a section of CITY ordinance No. 1816, codified in CITY's .Code of Ordinances at Chapter 9, Section 6-D.4.4, which requires developers seeking approval of a new subdivision plat #o submit with the filing of the final plat certificates from all taxing authorities showing payment of alf ad valorem taxes on the property. Contemporaneous with the execution of this Agreement, DEVELOPER agrees to and shall provide CITY with a copy of the plan of reorganization for DEVELOPER that was approved or ordered by the bankruptcy court. 03/28/95 ps/c/winword/agreement/LaCour page 3 of 9 -DRAFT-No. 3 7. CITY agrees not to make any future assessments against either the 4.339 acre tract or the 7.891 acre tract for the initial construction and extension, including the initial design and construction of associated drainage improvements, of Kyle South Street through these two tracts. CITY reserves the right, however, to make other assessments against these properties ~ a--aed .including without limitation any subsequent maintenance costs. 8. CITY agrees to incur and pay for the design costs and costs of preparing construction documents for the initial construction and extension of Kyle South Street. 9. Within five (5) years of the date of this Agreement or as soon as CITY appropriates sufficient funds for park improvements, whichever occurs first, DEVELOPER. shall fully comply with the dedication and development requirements for drainage and pedestrian access set forth in CITY's zoning ordinance rae~-~~--the ~+~ninn ~lrrlinnnno~~~ ~„~~+, ~.~~ n Q. ~- Until such time, CITY agrees to temporarily waive .the application of only the drainage and pedestrian access subsections of the zoning ordinance to the 4.339 acre .tract and the 7.899 acre tract. ~~ DEVELOPER and BUYER agree to comply at all times with all other applicable CITY ordinances and state and federal -laws affecting the. use and development of the land described in the proposed plat for LaCour Subdivision, Phase One. 10. .CITY agrees to waive fifty percent (50%) of the costs of preparing this Development Agreement. DEVELOPER agrees to and shall pay the remaining fifty percent (50%) of the actual preparation costs in an amount up to, but not to exceed, two thousand five hundred dollars ($2,500.00).. 99. CITY agrees to temporarily defer the application of a portion of one of CITY's subdivision ordinances that. would require DEVELOPER to design and construct a twelve inch (92") water line along the proposed right-of-way dedication for Kyle South Street through the 4.339 acre tract from Harvey Road to the southeastern property line 03/28/55 ps/c/winword/agreement/Lacour page 4 of 9 -DRAFT-No. 3 of the 4.339 acre tract. Within twelve (72) months of the date of this Agreement, however, DEVELOPER AND BUYER agree to design and construct such a water line along the proposed right-of-way for Kyle South Street through the 4.339 acre tract 12~. It is understood and agreed. that any failure to meet the terms and conditions of this Agreement terminates the Agreement. In such event, CITY shall neither be obligated to waive or defer any of its ordinance requirements, nor. refrain from assessing either the 4.339 acre tract or the 7.891 acre tract for the initial construction of Kyle .South Street, nor, at CITY's option, comply with any other tE~rm of this Agreement. 73. It is understood and agreed that the continued effectiveness of this Agreement and all its terms are dependent upon the occurrence, of the proposed sale of the 4.339 acre tract from DEVELOPER to BUYER. within ninety (90) days of the date of the execution of this Agreement. In the event that this proposed sale does not occur within ninety (90) days. of the date of the execution of this Agreement, the Agreement shall automatically terminate and have no further force or effect whatsoever. 14~. It is understood that this Agreement shall be governed by, and construed and enforced in accordance with, and subject to, the laws of the State of Texas. The parties agree that performance of this Agreement shah take place in Brazos County, Texas and that venue shall lie in a court of competent jurisdiction in Brazos County, Texas. 15~. The parties agree that they have read the terms of this Agreement and familiarized themselves .with the requirements hereunder and agree that they understand their rights and responsibilities hereunder. 164. It is understood and agreed that this Agreement shall be binding upon and shall inure to the benefit of the parties and their respective heirs, le:>sees, .representatives, successors, and assigns. 03/28/55 ps/c/winword/agreement/LaCour page 5 of 9 -DRAFT-No. 3 176. It is understood tha# this Agreement contains the entire agrE:ement between the parties and supersedes any and all prior agreements, arrangements, or understandings between the parties relating to the subject matter. No oral understandings, statements, promises or inducements contrary to the terms of this Agreement exist. This Agreement .cannot be changed or terminated unless in writing and agreed to by both parties. 186. By this Agreement, CITY does not consent to litigation or suit of any kind, and the CITY hereby expressly revokes. any consent to litigation that it may have granted by the terms of this Agreement, charter, or applicable state law. DEVELOPER, BUYER, and AUSTACO assume full responsibility for the work to be performed hereunder and hereby release, relinquish, and discharge the CITY, its officers, agents, and employees from all claims, demands, and cau:>es of action of every kind and character, .including the cost of defense thereof, for any injury to or death of .any person {whether they be one of the parties to this Agreement, third parties, or employees of either of the parties hereto) acid any loss of or damage to property (whether the same be that either of the parties hereto or of third parties) that is caused by, or alleged to be caused by, 2~rising out of, or in connection with DEVELOPER'S, BUYER's, or AUSTACO's work: to be performed hereunder, whether or not said claims, demands, and causes of action are covered in whole or in part by insurance. 19~. In the event of litigation, DEVELOPER and BUYFR agree to and shall pay all of the attorney's fees, court costs, and other litigation costs of CITY. 20~. DEVELOPER and BUYER agree to and shall indemnify .and hold harmless CITY, its officers, agents, .and employees from and against any tend all claims, losses, damages, causes of action, suits, and liability of every kind, including all expenses of litigation, court costs, and attorney°s fees, for injury to or death of any person, or for damage to any property, or for breach of contract, 03/28/95 ps/ciivinword/agreement/LaCour page 6 of 9 -DRAFT-No. 3 arising out of or in connection with this Agreement, regardless of whether such injuries, death, damages, or breach are caused in whole or in part by the negligence of CITY. IN WITNESS WHEREOF, THE PARTIES HAVE EXECUTED THIS AGREEMENT ON THE day of , 1995. LACOUR INVESTMENTS, INC. By: AUSTACO, INC. By: CITY OF COLLEGE STATION BY: Tom Brymer, Interim City Manager APPROVED: Cathy Locke, City Attorney Glenn Schroeder, Executive Director of Fiscal and Human Resources 03/28/95 ps/citvinword/agreement/LaCour TEXAS AGGIE CREDIT UNION By: Date Date Date page 7 of 9 -DRAFT-No. 3 THE STATE OF TEXAS ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this day personally appeared as of LaCour Investments, a Louisiana Limited Partnership, known to me to be the .person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of .office on this the day of 1995. Notary Public in and for The State of Texas THE STATE OF TEXAS ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this day personally appeared as of Texas Aggie Credit Union known to me to be the person whose .name is subscribed to the foregoing instrument, and acknowledged to me :that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office on this the day of 1995. Notary Public in and for The State of Texas THE STATE OF TEXAS ) ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this day personally appeared as of Austaco, Inc. known to mE; to be the person whose. name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and sea! of .office on this the dlay of 1995. Notary Public in and for The State of Texas 03/28/95 ps/c/winwordJagreement/LaCour page 8 of 9 -DRAFT-No. 3 THE STATE OF TEXAS ) ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority., on #his day personally appeared' Tom Brymer, Interim City Manager of the City of College Station, a Texas Municipal Corporation, known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office on this the day of 1995. Notary Public in and for The State of Texas 03/285 ps/c/winword/agreement/LaCour page 9 of 9 -DRAFT-No. 3 DEVELOPMENT AGREEMENT This Agreement is entered into this the day of 1995, by and among the CITY OF COLLEGE STATION, TEXAS, a Texas HomE: Rule Municipal Corporation {hereinafter referred to as "CITY"), LACOUR INVESTMENTS, a Louisiana Limited Partnership (hereinafter referred to as "DEVELOPER"), AUSI~rACO, INC., a corporation (hereinafter referred to as "AUSTACO"), and TEXAS AGGIE CREDIT UNION (hereinafter referred to as "BUYER"). WHEREAS, DEVELOPER is the owner of a certain 4.339 acre tract and a certain 7.891 acre tract, both in the Morgan Rector League, Brazos County, Texas, and being more fully depicted ,..and described in the proposed subdivision plat for LaCour .Subdivision, Phase One, attached hereto as Exhibit "A" and incorporated herein by reference. WHEREAS, AUSTACO is the owner of a certain .80 acre tract denominated as "Lot One" in a deed recorded in Volume 498, Page 160 of the Deed Records of E3razos County, Texas, and said .80 tract is contiguous with a portion of DEVELOPER's 4.339 acre tract. WHEREAS, DEVELOPER has proposed to sell, and BUYER has agreed 1:o buy, the 4.339 acre tract, denominated as Lot One of the proposed LaCour Subdivision Plat, attached hereto as Exhibit A. WHEREAS, CITY is interested in acquiring, by dedication, sufficient right-of-way for a future extension of Kyle South Street .through both the 4.339 acre tract and the 7.891 acre tract. WHEREAS, in order to eliminate a dangerous access onto Harvey Road, CITY and AUSTACO wish to close the most easterly driveway access from Harvey Road into AUSTACO's tract. 03/28/95 ps/clwinword/agreement/LaCour page 1 of 9 -DRAFT-No. 3 WHEREAS, DEVELOPER and BUYER have agreed to grant AUSTACO a private access easement through the 4.339 acre tract to the thirty foot (30') "Private Access Easement" as shown on the proposed plat for LaCour Subdivision, Phase One. WHEREAS, DEVELOPER owes a significant amount of property taxes ors both the 4.339 acre tract and the 7.891 acre tract, and DEVELOPER is unable to pay those taxes prior to selling the properties and thus unable to comply with CITY ordinance No. 1816, codified in CITY's Code of Ordinances at Chapter 9, Section 6-D.4.4, which requires developers seeking approval of a new subdivision plat to submit certificates #rom ail taxing authorities showing payment of all ad valorem taxes on the property. WHEREAS, DEVELOPER has also requested that CITY temporarily waive certain dedication and development requirements for drainage and pedestrian access set forth in CITY ordinance no. 1638, the "Zoning Ordinance", subsections 7.21 D & E. NOW, THEREFORE, for and in consideration of the recitations above <~nd in consideration of the promises and covenants herein expressed, the parties hereby agree and covenant as follows: 1. DEVELOPER agrees to and shall dedicate the .558 acre tract to thE; CITY for future right-of-way to extend Kyle South Street. 2. .BUYER agrees and shall grant AUSTACO a thirty foot (30') wide access easement from a point in the common boundary line between the 4.339 acre tract and AUSTACO's adjacent property to the thirty foot (30') "Private Access Easement" as shown on the proposed plat of LaCour Subdivision, Phase One. 3. DEVELOPER AND BUYER agree and shall dedicate to CITY a thirty foot (30') wide access easement from the .558 acre right-of way dedication for Kyle South Street (out of the 7.891 acre tract) across and through the 4.339 acre tract to a point of access onto Harvey Road. This easement shall be located as depicted on the proposed final plat of LaCour Subdivision, Phase One. o~s~~ ps/c/winword/agreement/LaCour page 2 of 9 -DRAFT-No. 3 4. Within thirty (30) days of the date BUYER receives a certificate of occupancy for the proposed improvements #o be constructed on the 4.339 acre tract, AUSTACO agrees to and shall close and permanently cease to use its most easterly curb cut and access from its property onto Harvey Road . 5. DEVELOPER AND BUYER agree, and within twelve (12) months of the approval of the final plat for LaCour Subdivision, Phase One, the owner of the 4.339 acre tract, whether DEVELOPER OR BUYER, shall dedicate to CITY a .586 acre, seventy foot (70') right-of-way out of and through the 4.339 acre tract for future street dedication and as depicted on the proposed plat for LaCour Subdivision, Phase C-ne. 6. Out of the proceeds of the sale of the 4.339 acre tract by DEVELOPER to BUYER, DEVELOPER agrees to and shall pay all .accrued ad .valorem taxes, pro-rata for the current year and for any and all outstanding taxes for prior years, for both the 4.339 acre tract and the .558 right-of-way dedication. Within seven (7) days of the sale of the 4.339 acre tract, DEVELOPER. shall provide CITY with certificates from all applicable taxing agencies showing payment of all ad valorem taxes, both for the current year and all past years for the .558 acre right-of-way dedication and the 4.339 acre tract. Until such time, CITY agrees to temporarily waive the application of a section of CITY ordinance No. 1816, codified in CITY's Code of Ordinances at Chapter 9, Section 6-D.4.4, which requires developers seeking approval of a new subduvision plat to submit with the filing of the final plat certificates from all taxing authorities showing payment of all. ad valorem taxes on the property. Contemporaneous wiith the execution of this Agreement, DEVELOPER agrees to and shall provide CITY with a copy of the plan of reorganization for DEVELOPER that was approved or ordered by the bankruptcy court. 7. CITY agrees not to make any future assessments against either the 4.339 acre tract or the 7.891 acre tract for the initial construction and extension, including the initial design. and construction of associated drainage improvements, of Kyle South 03/28/95 ps/c/winword/agieement/LaCour page 3 of 9 -DRAFT-No. 3 Street through these two tracts. CITY reserves the right, however, to make other assessments against these properties, including without limitation any subsequent maintenance costs. 8. CITY agrees to incur and pay for the design costs and costs of preparing construction documents for the initial construction and extension of Kyle South Street. 9. Within five {5) years of the date of this Agreement or as soon as CITY appropriates sufficient funds for park improvements, whichever occurs first, DEVELOPER shall fully comply with the dedication and development requirements for drainage and pedestrian access set forth in the CITY`s zoning ordinance. Untiil such time, CITY agrees to temporarily waive the. application of only the drainage and pedestrian access subsections of the zoning ordinance to the 4.339 acre tract and the 7.891 acre tract. DEVELOPER and BUYER agree to comply at all times with all other applicable CITY ordinances and .state and federal laws affecting the use and development of the land described in the proposed plat for LaCour Subdivision, Phase One. 10. CITY agrees to waive fifty percent {50%) of the .costs of preparing this Development Agreement. DEVELOPER agrees to and shall pay the remaining fifty percent (50%) of the actual preparation cos#s in an amount up to, but not to exceed, two thousand five hundred dollars ($2,500.00). 91. C1T1( agrees to temporarily defer the application of a portion of one of CITY's subdivision ordinances thafiwould require DEVELOPER to design and construct a twelve inch (12") water line along the proposed right-of-way dedication for Kyle South Street through the 4.339 acre tract from Harvey Road to the southeastern property line of the 4.339 acre. trac#. Within twelve (12) months of the date of this Agreement, however, DEVELOPER AND BUYER agree to design and construct such a wal:er line along the proposed right-of-way for Kyle South Street through the 4.339 acre tract 03/28/95 ps/c/winword/agreernent/LaCour page 4 of 9 -DRAFT-No. 3 12~-. It is understood and agreed that any failure to meet the term:> and conditions of this Agreement terminates the Agreement. In such event, CITY shall neither be obligated to waive or defer any of its ordinance requirements, nor refrain from assessing either the 4.339 acre tract or the .7.891 acre tract for the initial construction of Kyle South Street, nor, at CITY's option, comply with any other tE;rm of this Agreement. 73. It is understood and. agreed that the continued effectiveness of this Agreement and all its terms are dependent upon the occurrence of the proposed sale of the 4.339 acre tract from DEVELOPER to BUYER within ninety {90) days of the da#e of the execution of this Agreement.. In .the event that this proposed sale does not occur within ninety (90) days of the date of the execution of this Agreement, the Agreement shall automatically terminate and have no further force or effect whatsoever. 14~. It is understood that this Agreement shall be governed by, and construed and enforced in accordance .with, .and subject to, the laws of the State of .Texas. The parties agree that performance of this Agreement shall take place in Brazos County, Texas and that venue shall lie in a court of competent jurisdiction in Brazos County, Texas. 155. The parties agree that they have read the terms of .this Agreement and familiarized themselves with the requirements hereunder and agree that they understand their rights and responsibilities hereunder. 164. It is understood and agreed that this Agreement shall be binding upon and shall inure to the benefit of the parties and. their .respective heirs, lessees, representatives, successors, and assigns. 17a. It is understood that this Agreement contains the entire agreement between the parties and supersedes any and all prior agreements, arrangements, or understandings between the parties relating to the subject matter. No oral understandings, statements, promises or inducements contrary to the terms of this 03/28/35 ps/c/winword/agreement/taCour page5of9 -DRAFT-No. 3 Agreement exist. This Agreement cannot be changed or terminated unless in writing and agreed to by both parties 186. By this Agreement, CITY does not consent to litigation or suit of any kind, and the CITY hereby expressly revokes any consent to litigation that lit may have granted. by the terms of this Agreement, charter, or applicable state law. DEVELOPER, BUYER, and AUSTACO assume full responsibility for the work to be performed hereunder and hereby release, relinquish, and discharge the CITY, its officers, agents, and employees from all claims, demands, and causes of action of every kind and character, including the cost of defense thereof, for any injury to or death. of any person (whether they be one of the parties to this Agreement, third parties, or employees of either of the parties hereto) and any loss of or damage to property (whether the same be that either of the parties hereto. or of third parties) that is caused by, or alleged to be caused by, arising out of, or in connection with DEVELOPER's, BUYER's, or AUSTACO's work to be performed hereunder, whether or not said claims, demands, and causes of .action are covered in whole or in part by insurance.: 19~. In the event of litigation, DEVELOPER and BUYER agree to and shall pay all of the attorney's fees, court costs, and other litigation costs of CITY. 208. DEVELOPER and BUYER agree to and shall indemnify and hold harmless CITY, its officers, agents, .and employees from and against any. a;nd all claims,. losses, damages, causes of action, suits, .and liability of every kind, including all expenses. of litigation, court costs, and attorney's fees, for injury to or death of any person, or for damage #o any property, or for breach of contract, arising out of or in connection with this Agreement, regardless of whether such injuries, death, damages, or breach are caused in whole or in part hey the negligence of CITY. 03/28/95 ps/c/winword/agreement/L aCour page6of9 -DRAFT-No. 3 IN WITNESS WHEREOF, THE PARTIES HAVE EXECUTED THIS AGREEMENT ON THE day of , 1995. LACOUR INVESTMENTS, INC. By: AUSTACO, INC. By: CITY OF COLLEGE STATION BY: Tom Brymer, Interim City Manager APPROVED: Cathy Locke, City Attorney Glenn Schroeder, Executive Director of Fiscal and Human Resources 03/28/95 ps/c/winword/agreement/LaCour TEXAS AGGIE CREDIT UNION By: Date Date Date page 7 of 9 -DRAFT-No. 3 THE STATE OF TEXAS ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this day personally appeared as of LaCour Investments, a Louisiana Limited Partnership, known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same f'or the purposes and consideration therein expressed. Given under my .hand and seal of office on this the day of 1995. Notary Public in and for The State of Texas THE STATE OF TEXAS ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this day personally appeared as of Texas Aggie Credit Union known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office on this the day of 1995. Notary Public in and for The State of Texas THE STATE OF TEXAS ) } ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this day personally appeared as of Austaco, .Inca known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office on this the day of 1995, Notary Public in and for The State of Texas 03/28/95 psic/winword/agreement/LaCour page 8 of 9 -DRAFT-No. 3 THE STATE OF TEXAS ) ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the .undersigned authority, on this day personally appeared Tom Brymer, Interim City Manager of the City of College Station, a Texas Municipal Corporation, known to me to be the person whose name is subscribed to the forE:going instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office on this the day of 1995. Notary Public in and for The State of Texas 03/28/95 psic/winword/agreement/LaCour page 9 ofi 9 -DRAFT-No. 4 DEVELOPMENT AGREEMENT This Agreement is entered into this the day of , 1995, by and among the CITY OF COLLEGE STATION, TEXAS, a Texas Home Rule Municipal Corporation (hereinafter referred to as "CITY"), LACOUR INVESTMENT"S, a Louisiana Limited Partnership (hereinafter referred to as "DEVELOPER"), AUSTACO, INC., a corporation (hereinafter referred to as "AUSTACO"), and ® I~~FI~PJ-(h 'n fter,rtefe d t s "BUYER"). WHEREAS, DEVELOPER is the ner of a certain 4.339 acre tract aind a certain 7.891 acre tract, both in the Morgan Rector League, Brazos County, Texas„ and being more fully depicted and described. in the proposed subdivision plat for LaCour Subdivision, Phase One, attached hereto as Exhibit "A" and incorporated hereiin by reference. WHEREAS, AUSTACO is the owner of a certain .80 acre tract denominated as "Lot One" in a deed recorded in Volume 498, Page 160 of the Deed Records of Brazos County, Texas, and said .80 tract is contiguous with a portion of DEVELOPER's ~t.339 acre tract. WHEREAS, DEVELOPER has proposed to sell, and BUYER has agreed toy buy, the 4.339 acre tract, denominated as Lot One of the proposed LaCour Subdivision Plat, attached hereto as Exhibit A. WHEREAS, CITY is interested in acquiring, by_ dedication, sufficient right-of-way for a future extension of Kyie South Street through the 7.891 acre tract. WHEREAS, in order to eliminate a dangerous :access onto Harvey Road, CITY and AUSTACO wish to close the most easterly driveway access from Harvey Road into AUSTACO's tract. WHEREAS, DEVELOPER and BUYER have agreed to grant AUSTACO a private access easement through the 4.339 acre tract to the thirty foot (30') "Private Access Easement" as shown. on the proposed plat for LaCour Subdivision, Phase One. 04/04~J5 ps/c/winword/agreement/LaGour page 1 of 9 -DRAFT-No. 4 WHEREAS, DEVELOPER owes a signifiicant amount of property taxes on both the 4.339 acre tract and the 7.891 acre tract, and DEVELOPER is unable to pay tlhose taxes prior to selling the properties and thus unable to comply with CITY ordinancE; No. 1816, codified in CITY's Code of Ordinances at Chapter 9, Section 6-D.4.4, ~nrhich requires developers seeking approval of a new subdivision plat to submit certificates from all taxing authorities showing payment of all ad valorem taxes on the property., WHEREAS, DEVELOPER has also requested that CITY temporarily waive three (3) other requirements of the CITY's zoning or subdivision ordinances: to wit, (1) the submittal of approved construction documents and construction or guarantee of construction of a water line through the 4.339 acre tract; (2) the design and construction or guarantee of construction of sidewalks along the 4.339 acre tract prior to plat approval; and (3) the submittal of impact studies of the remainder tract prior to plat approval. WHEREAS, DEVELOPER and. BUYER desire to comply with the CITY's Wolf Pen Creek Zoning Ordinance in other respects and have elected to comply with said ordinance by dedicating to the CITY certain. .parcels of land out of the 4.339 acre tract and the 7.891 acre tract. NOW, THEREFORE, for and in consideration of the recitations above and in consideration of the. promises and covenants herein expressed, the parties hereby - a ree and covenant as follows: ` ~` 5 ~ ~e~`~~ ~~~ g eu7 ~. 3 ~ 1. DEVELOPER agrees to and shall dedicate the ~ to the CITY ~~- `~' 2. BUYER agrees and shall grant AUSTACO a thirty foot (30') wide access ~~. easement from a point in the common boundary line between the 4.339 acre tract and AUSTACO's adjacent property to the thirty foot (30') "Private Access Easement" as shown on the proposed plat of LaCour Subdivision, Phase One. 04/04/J5 pslc/winword/agreement/LaCour page 2 of 9 -DRAFT-No. 4 3. DEVELOPER AND BUYE a and shall dehlicate to CITY a thirty foot ~ (30') wide access easement. from the ~~~ ou h the 4.339 a ract to a oint of access onto Harvey Road. Street across and thr g p ~~ ®~' This access easement shall be located as depicted on the proposed final plat of (~ ~~ LaCour Subdivision, Phase One. ~~~ 4. DEVELOPER AND BUYER agree and sha11 dedicate #o CITY a strip of ~~_~~ land out of and along the southeast property line of the 4.339 acre tract. Said strip of ~-~,,'u~,y//~/J 6CJ`-"Q land to be approximately twenty feet (20') wide, containing .295 acres, and as shoHm on ~ it~.cP~ ~~~ ~~-~;~~ the proposed plat for LaCour Subdivision, .Phase One. 5. DEVELOPER agrees and shall. dedicate to CITY the portion of the remainder 7.333 acre tract, shown on the proposed plat for LaCour Subdivision, Phase One, that lies between the southeasterly "Approximate Floodplain Line" within the 7.333 acre tract and the southeast. property line of the 4.339 acre tract (hereinafter the "Wolf Pen Creek dedication") 6. Within thirty (30) days of the date BUYER receives a certificate of occupancy fior the proposed improvements #o be constructed on the 4.339 acre tract, AUSTACO agrees to and shall close and permanently cease to use its most easterly curb cut and access from its property onto Harvey Road . 7. ~ Out of the proceeds of the sale of the 4.339 acre tract by DEVELOPER to BUYER, DEVELOPER agrees to and shall pay all -accrued ad valorem taxes,-pro-rata for the Curren ea ,and for any and all outstanding taxes for prior years, for the 4.339 Pen Creek dedication. Within acre tract, th .558 ng t-of--way dedication, and the Wolf seven (7) da of th sale of the 4.339 acre tract, DEVELOPER shalF provide CIT1( with certificates from all applicable taxing agencies showing pa ent of a ad valorem taxes, both for the current year and all pas# years, fort .558 acre right-of-way dedication, the 4.339 acre tract, and the Wolf Pen Creek de ication. Until such time, CITY agrees to temporarily waive the application of a section of CITY ordinance No. 04/04~J5 ps/c/winword/agreement/LaCour page 3 of 9 __._. _ -DRAFT-No. 4 1816, codified in C1TY's Code of Ordinances at Chapter 9, Section 6-D.4.4, which requires developers seeking approval of a new subdivision plat to submit with the ifiling of the fnal plat certificates from all taxing authorities showing paymen# of all ad valorem taxes on the property. Contemporaneous with the execution of this Agreement, DEVELOPER agrees to and shat! provide CITY with a copy of the plan of reorganization for DEVELOPER that was approved or ordered by the bankruptcy court. -.a 8. CITY agrees not to make .any future assessments against _ _ .. ' tr r ~~ 7.333 acre tract for the initial construction and extension, including the .initial design and construction of associated drainage improvemenls, of Kyle South Street through these two tracts.. CITY reserves the right, however, to make other future assessments against these properties, including without .limitation assessments for subsequent maintenance costs. In addition, should CITY ever further extend Kyle South Street through the 4.339 acre tract CITY reserves the ri h~o assess that tract for the initial construction costs and all o#her allowable costs associated with constructing and maintaining that additional extension of the street. ~j ~ CITY agrees to incur and pay for the design costs and costs of preparing 1 constructio ocu nts for the initial construction and extension of Kyle South Street _..--- through t .558 acre right-of-way tract. ~ ~ agrees to temporarily defer the application of a portion of one of C CITY's subdivision ordinances that would require DEVELOPER to design and construct ~' a twelve inch (12") water line through the 4.339 acre and 7.333 acre tracts from Harvey Road to the remainder portion of the 7.333 acre tract that is not part of the Wolf Pen Creek dedica#ion. Within twelve (12) months of the date of this Agreement, however, DEVELOPER AT*'~° agree to design and construct such a water line through the 4.339 acre and 7.333 acre tracts. ~ I ~ CITY agrees to temporarily waive the subdivision requirement that approved construction documen#s be submitted and #hat a sidewalk. be constructed or 04/04/J5 ps/c/winword/agreement/LaCour page 4 of 9 -DRAF"I'-No. 4 that its construction be guaranteed along the 4.339 acre tract as part of the plat approval process. The submittal of approved construction documents and construc:tion of said sidewalk, however, wi11 be required at the time of any subsequent "site Iplan review" for any improvement to or development of the 4.339 acre tract. CITY agrees to temporarily waive the requirement that impact studies be submitted on the remainder 7.333 acre tract with the submission of the preliminary plat for LaCour Subdivision, Phase One. DEVELOPER agrees to submit the required impact studies, however, with the submission of any final plat for the remainder 7.333 acre tract. DEVELOPER and BUYER agree to comply at all times with all other applicable CITY ordinances and state and federal laws affecting the use and development of the land described in the proposed plat for LaCour Subdivision, Phhase One. ~~ ~~ CITY agrees #o waive fifty percent (50%) of the costs of preparing this Development Agreement.. DEVELOPER agrees to and shall pay the remairnng~ fifty percent (50%) of the actual preparation. costs in an amount up to, but not to exceed, two thousand five hundred dollars ($2,500.00). `{ It is understood and agreed that any failure to meet the terms and conditions of this Agreement terminates the Agreement. 1n such event, CITY shall neither be obligated to waive or defer any of its ordinance requirements, nor refrain from assessing either the 4.339 acre tract or the 7.891 acre tract for the initial construction of Kyle South Street, nor, at CITY's option, comply with any other term of this Agreement. It is understood and agreed that the continued effectiveness oif this ~~ Agreement and all its terms are dependent upon the occurrence of the proposed sale of ---- the 4.339 acre tract from DEVELOPER to BUYER within ninety (90) days of the date of the execution of this Agreement. In the event that this proposed sale does not occur 04/04/95 ps/cM+inword/agreement/LaCour page 5 of 9 -DRAFT-No. 4 within ninety (90) days of the date of the execution of this Agreement, the Agreement shall automatically terminate and have no fiurther force or effect whatsoever. ~~~. It is understood that this Agreement shall be governed by, and construed and enforced in accordance with, and subject to, the laws of the State of Texas. The parties agree that performance of this Agreement shall take place in Brazos County, Texas and that venue shall lie in a court of competent jurisdiction in Brazos County, Texas. ~~~ The parties agree that they have read the terms of this Agreement and familiarized themselves with the requirements. hereunder and agree that they understand their rights and responsibilities hereunder. ~ ~ It is understood and agreed that this Agreement shall be binding upon and shall inure to the benefit of the parties and their respective heirs, lessees, representatives, successors, and assigns. It is understood that this Agreement contains the entire agreement between the parties and supersedes any and all prior agreements, arrangements, or understandings between the parties relating to the subject matter.. No oral understandings, statements, promises or inducements contrary to the terms of this Agreement exist. This Agreement cannot be changed or terminated unless in whiting and agreed to by both parties. ,~ ]~ By this Agreement, CITY does mot consent to litigation or suit o1F any kind, and the CITY hereby expressly revokes any consent to litigation that it may have .granted by the terms of this Agreement, charter, or applicable state law. DEVELOPER, BUYER, and AUSTACO assume full responsibility for the woirk to be performed hereunder and hereby release, relinquish, and discharge the CITY, its officers, agents, and employees from all claims, demands, and causes of action of every kind and character, including the cost of defense thereof, for any injury to or death of any person (whether they be one of the parties to this 04/04195 ps/clWinword/agreement/LaCour page 6 of 9 -DRAFT-No. 4 Agreement, third parties, or employees of either of the parties hereto) and any loss of or damage to property (whether the same be that either of the parties hereto or of third parties) that is caused by, or alleged to be caused by, arising out of, or in connection with DEVELOPER's, BUYER's, or AUSTACO's work to be performed hereunder, whether or not said claims, demands, and causes of action are covered in whole or in part by insurance. 21. In the event of litigation, DEVELOPER and BUYER agree to and shhall pay all of the attorney's fees, court costs, and other litigation costs of CITY. 22. DEVELOPER and BUYER .agree to and shall indemnify and hold harmless CITY, its officers, agents, and employees from and against any and all claims, losses, damages, causes of action, suits, and liability of every kind, including all expenses of litigation, court cos#s, and attorney's fees, for injuiry to or death of any. person, or for damage to any property, or for breach of contract, arising out of or in connection with #his Agreement, regardless of whether :such injuries, death, damages, or breach are caused in whole or in part by the negligence of CITY. IN WITNESS WHEREOF, .THE PARTIES HAVE EXECUTED THIS AGREEMENT ON THE day of LACOUR INVESTMENTS, INC. By: 1995. TEXAS AGGIE CREDIT UNION By: AUSTACO, INC. By: 04/04/95 ps/c/winword/agreement/LaCour page 7 of 9 -DRAFT-No. 4 CITY OF COLLEGE STATION BY: Tom Brymer, Interim City Manager APPROVED: Cathy Locke, City Attorney Glenn Schroeder, Executive Director of Fiscal and Human Resources Date Date Date THE STATE OF TEXAS ACKNOWLEDGMENT COUNTY OF BRAZOS Before me, .the undersigned authority, on this day personally appeared as of LaCour Investments, a Louisiana Limited Partnership, known to me ~o be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office on this the day of 1995. Notary Public in and for The State of Texas 04/04195 ps/c/winword/agreement2aCour page 8 of 9 7 .':. -DRAFT-No. 4 THE STATE OF TEXAS ~ ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this day personally appe<~red as of Texas Aggie Credit Uinion known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office on this the day of 1995. Notary Public in and for The .State of Texas THE STATE OF TEXAS ) ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this day personally appeared as of Austaco, Inc. known to me 1:o be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expre:>sed. Given under my hand and seal of office on this the day of 1995. Notary Public in and for The State of Texas THE STATE OF TEXAS ) ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this day personally appeared Tom Brymer, Interim City Manager of the City of College Station, a Texas Municipal Corporation, known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office on this the d<~y of . 1995. Notary Public in and for The State of Texas 04/04/55 ps/c%yinword/agreement/L.aCour page 9 of 9 -DRAFT-No. 6 DEVELOPMENT AGREEMENT This Agreement is entered into thus the day of , 1995, by and among the CITY OF COLLEGE STATION, TEXAS, a Texas Home Rule Municipal Corporation (hereinafter referred to as "CITY"), LACOUR INVESTMENTS, a Louisiana Limited Partnership (hereinafter referred to as "DEVELOPER"), and GREATER TEXAS FEDERAL CREDIT, d/b/a TEXAS AGGIELAND CREDIT UNION (hereinafter referred to as "BUYER"). WHEREAS, DEVELOPER is the owner of a certain 4.339 acre tract and a certain 4.734 acre tract, both in the Morgan Rector League, Brazos County, Texas, and being more fully depicted and described un the revised, proposed subdivision plat for LaCour Subdivision, Phase One, attached hereto as Exhibit "A" and incorporated herein by reference. ~ WHEREAS, DEVELOPER has proposed to sell, and BUYER has agreed i:o buy, the 4.339 acre tract, denominated as, and hereinafter referred to as, "Lot One" on the revised, proposed LaCour Subdivision Plat, attached hereto as Exhibit A. ~ WHEREAS, CITY is interested in acquiring, by dedication, sufficient right-of-way for a future extension of Kyle South Street. ~°' WHEREAS, BUYER has agreed to grant CITY a thirty foot (30') wide "Private Access Easement" through Lot One, running from the most southerly corner of Lot One north and west through Lot One to Harvey Road and as depicted in the revised, proposed plat for LaCour Subdivision, Phase One. WHEREAS, BUYER has also agreed to grant Austaco, Inc., the owner of t ~~ ~ ` property adjacent and to the west of Lot One, a thirty foot (30') wide "Private Access Easement" through Lot One, running from the most westerly property line of Lot One east to CITY's thirty foot (30') "Private Access Easement'~t~ten~=r~~th-=arid- vrrest;-over .~~~ ~~oyi~thP game-area--a~tf=te°r~ro°s~#-t~or-t#ern=portionl=of -CITY's-"Private Access o5iovss ps/c/winword/agreement/LaCour page 1 of 9 9 -DRAFT-No.6 as shown on the revised, proposed plat for L.aCour Subdivision, Phase One. WHEREAS, DEVELOPER owes a significant amount of property taxes on both Lot One and the 4.734 acre tract, and DEVELOPER is unable to pay those taxes prior to selling the properties and is thus unable to comply with CITY ordinance No. 1816, codified in CITY's Code of Ordinances at Chapter 9, Section 6-D.4.4, which requires developers seeking approval of a new subdivision plat to submit certificates from all taxing authorities showing payment of all ad valorem taxes on the property. /, WA„~VHEREA,S, DEVELOPER has also requested that CITY temporarily waive three (3) oth r req re ents of CITY' oning or ub ivision ordinan s' to wit, (~I the submit al o app oved constr ction docuo-n is a d constructi n, o a guars ~t of constr cti n, of a water li through Lot ne; (2) he desig and c nstruct~ ri, r a guar n e of cons uctio , of sidewalk al g Lot One rior plat appr val; d (3) he sub ~ttal of impact to ies on the 4.734 cre tract and the remainder tra t rior to pl t approval. WHEREAS, DEVELOPER and BUYER desire to comply with CITY's Wc-If Pen Creek Zoning Ordinance in other respects and have elected to comply with said ordinance by dedicating to CITY~eer ~ ~I~-efml-a~d~e~~rt~f '~~-~„~-a~~a~ld~sof tyre _• , (fL1.16"LdJL'lc;~r1, ~~~~E®(G'u~"tQ°i~7V'~e-:.. G$. ~ ~l?.~ l~ ._ r/l ..k? C..~ ; 4,7-3 °tract°- ~ ~ ~ '• ~ NOW, THREFORE, for and in consideration of the recitations above .and in consideration of the promises and covenants herein expressed, the parties hereby agree hd covenant as follows: 1. DEVELOPER agrees to and shall dedicate a seventy foot (70') wide right- of-way (approximately .558 acres) for the extension of Kyle Street South from the southernmost property line of Lot One south to the southernmost property line of the "Reserve Tract for Future Development" (hereinafter referred to as the "Reserve 05/02/95 ps/c/winword/agre ement/LaCour page 2 of 9 DRAFT-No. 6 ~~~~ as depicted in the revised, proposed plat for LaCour Subdivision, Phase ,. One, ( reinafter referred to as the "Kyle Street South Dedication"). 2. BUYER agrees to and shall grant CITY and DEVELOPER a thirty foot (30') wide "Private Access Easement" through Lot One, running from the most southerly corner of Lot One north and west through Lot One to Harvey Road, and as depicted in the revised, proposed plat for LaCour Subdivision, Phase One. 3. BUYER agrees to and shall grant Austaco, Inc., the adjoining la towner ~diate to the west along Harvey Road, a thirty foot (30') wide " rivate Access ment" throug of One, running from the most westerly perty line of Lot One east to CITY and DEVEL ~~'(~ ~ ~3 r,~TY and DEVEL~rE13'~ ' 's thirty foot (30') wide~P~vate Access Easements ion of all as shown on the revised, proposed plat for,~L~Cour Subdivision, hase One. -T,",G Whir+,s „~~(, ~,~. ~eii~-1 Dri. a~G--7-C ~°' ~~~~II 1 G,~. t~®L®°' w ~ 1t1,.~1 , - - - - ~ _ . ~ _, r#Ft~=a~Pi_°r_U'S`~°~tr1'~ -- ~~'~ ® 4. DEVELOPER AND BUYER agree and do hereby dedicate to CITY a strip of land out of and along the southeast property line of Lot One. Said strip of landl being twenty feet (20') wide, containing .295 acres, and as shown on the revised, proposed plat fo ' LaCour Subdivision, Phase One. - 5. DEVELOPER agrees and does hereby donate to CITY the 4.734 acre tract, as depicted on the revised, proposed plat for LaCour Subdivision, Phase One (hereinafter the "Wolf Pen Creek Dedication"). ~ 6. Out of the proceeds of the sale of Lot One, DEVELOPER agrees to and shall pay all accrued ad valorem taxes, including any and all outstanding taxes far prior years and the accrued, pro-rata portion of taxes for the current year for Lot Ore, the Kyle Street South Dedication, and the Wolf Pen Creek Dedication. Within seven (7) 05/02/95 ps/c/winword/agreemenbLaCour page 3 of 9 -DRAFT-No. 6 days of the sale of Lot One, DEVELOPER shall provide CITY with certificates from all applicable taxing authorities showing payment of all ad valorem taxes, both 1~or the current year and all past years, for Lot One, the Kyle Street South Dedication, and the Wolf Pen Creek Dedication. Until such time, CITY agrees to temporarily waive the application of a section of CITY ordinance No. 1816, codified in CITY's Code of Ordinances at Chapter 9, Section 6-D.4.4, which requires developers, prior to approval and filing of a final plat, to submit certificates from all taxing authorities showing payment of all ad valorem taxes on the property. Contemporaneous with the exE:cution of this Agreement, DEVELOPER agrees to and shall provide CITY with a copy of the plan of reorganization for DEVELOPER that was approved or ordered key the bankruptcy court. CITY agrees not to make any future assessments against the Reserve Tract for the initial construction and extension, including the initial design and construction of associated drainage improvements, of Kyle South Street through both the Kyle Street South Dedication and Lot One. CITY reserves the right, however, to make other future assessments against the Reserve Tract, including without lirrritation assessments for subsequent maintenance costs. ~'~`~ ~~~~-l Should CITY ever further extend Kyle South Street through Lot OnefY ~..~~s "serves the ri to assess that tract for the initial construction costs d alll other ,, ~c ~. allowable costs associat ith constructing and maintaining t additional extension ~~~ of the street. The parties further a that any impr ments made in the area of the ,~ proposed future Kyle Street South ri -w Gated on Lot One shall riot be ~ included in the appraise e or charged to CITY when CIT a i~ht-of- purchase or condemnation. ,p 10 ~.~~~~ITY ag >>i /" ~~ ~~, ~~~ constructio~i docu.rrer °Y~ through t,Kyle Stref 05/02/95 ps/c/winword/agreement/La Cour ~~'to incur_a~nd~pay for the"deign costs for the initiaf~ construction aid extensic n of~-fCy page 4 of 9 -DRAFT-No. 6 9 CITY agrees to temporarily defer the application of a portion of one of ~ CITY's subdivision ordinances that would require DEVELOPER to design and construct l~ ~ a twelve inch (12) water line through Lot One and the Wolf Pen Creek Dedication from Harvey Road to the Reserve Tract. Within twelve (12) months of the date of this Agreement, however, DEVELOPER agrees to design and construct such a water line through Lot One and the Wolf Pen Creek Dedication. CITY agrees to temporarily defer the application of CITY's ~bdivision t"nance requirement that, as part~of the plat approval process, approved cori~truction ~~locuments be~subrnitted and that, a sidewalk be constructed oar that its constru ~t.ion be ~~ ~ ~ i guaranteed long Lot One. Tf7e submittal of approved construction documen~s and t ~ z co~nstructiorof said sidbewalkhowever, wi'~I~be req~tred at the ~~me of any subsE~quent ~~ y,- ~'~ „ ~"` °~ tea. ti"`~. ,~ site plan'°review for any improvement to or de~r~fopment of Lot One:" ,,> ~~~ ~ '". b CITY agreet temporarily d~f~the application fof CI Y's subdivision a~ ~ ,. ~ ~- ,, narice re ~ uirement ,#hat impact studies be sub fitted on thy{ Reserve Tract with the ~`r f ~ ~; submission of the pref~iminary p~l~at for LaCour Subdi ision, P-tease One. ~DEVEL;OPER .~ =y agt-ee's to subm~t^the `required im~~act udies, however, 't the submission~o, fny final ,,~~ ~~:. ~~ ~~~ -~ plat'f'or the Reserve Tract. ~ a G_~ DEVELOPER. and BUYER a ree to com I at all times with all other ~ l 9 p Y ~ ~-,; ~~ applicable CITY ordinances and state and federal laws affecting the use and ` ,,~ ~ ,V~ development of the land described in the proposed plat for LaCour Subdivision, Phase ,~~; ~'~~"~ . One. ~ ~ ~~'~ '~ .~ ~ y ~~. / i ~' CITY agrees to waive fifty percent (50%) of the costs of preparing this ` ~ ~.. .. Development Agreement. DEVELOPER agrees to and steal pay the remaining fifty ,1~ ~; P ~~ percent (50%) of the actual preparation costs in an amount p to, but not toexceed, ~,` ~%~` 4`re+:.L.a-tv~.~~ r C'~ ~ I~a?,a~'~/Lv,Y~~.:..'~" .r a, 'e!~~ ~ N 's.~'v'l„'d-'..5 ,. two thousand five hundred dollars ($2,500.00). ~.~y:~ ~ ~~ ~ ~ 2 1.B: It is understood and agreed that any failure to meet the terms and conditions of this Agreement terminates the Agreement. In such event, CITti' shall 05/02/95 ps/c/winword/agreement/La Cour page 5 of 9 -DRAFT-No. 6 neither be obligated to waive or defer any of its ordinance requirements, nor refrain from assessing either Lot One or the Reserve Tract for the initial design and construction of Kyle South Street, nor, at CITY's option, comply with any other term of this Agreement. 17. It is understood and agreed that the continued effectiveness of this Agreement and all its terms are dependent upon the occurrence of the proposed sale of Lot One from DEVELOPER to BUYER within ninety (90) days of this Agreement. In the event that this proposed sale does not occur within ninety (90) days of the date of this Agreement, the Agreement shall automatically terminate and have no further force or effect whatsoever. 18. It is understood that this Agreement shall be governed by, and construed and enforced in accordance with, and subject to, the laws of the State of Texas. The parties agree that performance of this Agreement shall take place in Brazos County, Texas, and that venue shall lie in a court of competent jurisdiction in Brazos County, Texas. 19. The parties agree that they have read the terms of this Agreement and familiarized themselves with the requirements hereunder and agree than they understand their rights and responsibilities hereunder. 20. It is understood and agreed that this Agreement shall be bindinc~ upon and shall inure to the benefit of the parties and their respective heirs, lessees, representatives, successors, and assigns. 21. It is understood that this Agreement contains the entire agrE~ement between the parties and supersedes any and all prior agreements, arrangements, or understandings between the parties relating to the subject matter. No oral understandings, statements, promises or inducements contrary to the terms of this Agreement exist. This Agreement cannot be changed or terminated unless in writing and agreed to by both parties. 05/02/95 ps/ciLvinword/agreement/LaCour page 6 of 9 -DRAFT-No. 6 ~°° ~, ti'`~~ ~a ~ 22. By this Agreement, CITY does not consent to litigation or suit of any ;~ ~ , `' ``°' kind, and the CITY hereby expressly revokes any consent to litigation that it may ~~ ~~, ,~ ~,~ have granted by the terms of this Agreement, charter, or applicable state law. ~ \ °~ ~,.; DEVELOPER and BUYER a ~ ,~;~, ~~~, ~ , ~ hereby release, relinquish, and discharge the CITY, its offficers, ~~ `°~ agents, and employees from all claims, demands, and causes of action of every ~:J e.~. ~' "~ ~ kind and character, including the cost of defense thereof, for any injury to or .~~ ~ ~~ .~ ~' ~~ death of any person (whether they be one of the parties to this Agreement, third 4~°~~ parties, or employees of either of the parties hereto) and any loss of or damage l ^ j' :~~. ` `~~ to property (whether the same be that either of the parties hereto or of third ~`` parties) that is caused by, or alleged to be caused by, arising out of, or in connection with DEVELOPER's or BUYER's work to be performed hereiunder, whether or not said claims, demands, and causes of action are covered in whole or in part by insurance. 23. In the event of litigation, DEVELOPER agree to and shall pay all of the attorney's fees, court costs, and other litigation costs of CITY. 24. DEVELOPER agrees to and shall indemnify and hold harmless CITY, its officers, agents, and employees from and against any and all claims, losses, damages, causes of action, suits, and liability of every kind, including all expenses of litigation, court costs, and attorney's fees, for injury to or death of any person, or for damage to any property, or for breach of contract, arising out of or in connection with this Agreement and the properties designated herein as the Kyle Street South Dedication, the V14olf Pen Creek Dedication and the Reserve Tract, regardless of whether such injuries, death, damages, or breach are caused in whole or in part by the negligence of CITY. 25. BUYER agrees to and shall indemnify and hold harmless CITY, its officers, agents, and employees from and against any and all claims, losses, 05/02/95 ps/c/winword/agreement/LaCour page 7 of 9 -DRAFT-No. 6 damages, causes of action, suits, and liability of every kind, including all expenses of litigation, court costs, and attorney's fees, for injury to or death of any person, or for damage to any property, or for breach of contract, arisinig out of or in connection with this Agreement and. the property designated herE:in as Lot One, including but not limited to the twenty foot (20') wide dedication to• CITY out of Lot One and all Private Access Easements through Lot One, regardlE:ss of whether such injuries, death, damages, or breach are caused in whole or iin part by the negligence of CITY. IN WITNESS WHEREOF, THE PARTIES HAVE EXECUTED THIS AGREEMENT ON THE day of LACOUR INVESTMENTS, INC. By: CITY OF COLLEGE STATION BY: Tom Brymer, Interim City Manager .APPROVED: Cathy Locke, City Attorney Glenn Schroeder, Executive Director of Fiscal and Human Resources 05/02/95 ps/c/winword/agreement/LaCour page 8 of 9 1995. GREATER TEXAS FEDERAL CREDIT By: Date Date Date -DRAFT-No. 6 THE STATE OF TEXAS ) ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this day personally appeared as of LaCour Investments, a Louisiana Limited Partnership, known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office on this the clay of 1995. Notary Public in and for The State of Texas THE STATE OF TEXAS ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this day personally appeared as of Greater Texas Federal Credit, d/b/a Texas Aggieland Credit Union, known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office on this the day of 1995. Notary Public in and for The State of Texas THE STATE OF TEXAS ) ACKNOWLEDGMENT COUNTY OF BRAZOS ) Before me, the undersigned authority, on this day personally appeared Tom Brymer, Interim City Manager of the City of College Station, a Texas Municipal Corporation, known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed. Given under my hand and seal of office on this the day of __ , 1995. Notary Public in and for The State of Texas 05/02/95 ps/c/winword/agreement/La Cour page 9 of 9