HomeMy WebLinkAbout064231 - Construction-Related - Contract - MM Bonds 836, LLC and Beaten Path Development-MD Commercial, LLCESTATES AT EAGLE MOUNTAIN LAKE
DEVELOPMENT AGREEMENT
BY AND AMONG
MM BONDS 836, LLC
AND
City Secretary ~ 4 ~ '3 f
Contract No _.=..._.l-,;..;::;..._--
BEATEN PATH DEVELOPMENT-MD COMMERCIAL, LLC,
AND
THE CITY OF FORT WORTH, TEXAS
AND
TARRANT COUNTY, TEXAS
October 14, 2025
Estates at Eagle Mountain Lake Development Agreement -Page I
OFFICIAL RECORD
CITY SE~Ri:TARY
FT. WORT H, TX
CSOREC'D
NOV 5 '25 At-111:10
ESTATES AT EAGLE MOUNTAIN LAKE
DEVELOPMENT AGREEMENT
This Estates at Eagle Mountain Lake Development Agreement (this "Agreement") is executed by
and among MM BONDS 836, LLC , a Texas limited liability company ("Developer"), BEATEN
PATH DEVELOPMENT-MD COMMERCIAL, LLC , a Texas limited liability company
("Path Development"), the CITY OF FORT WORTH, TEXAS, a Texas home rule city (the
"Q!y"), and TARRANT COUNTY, TEXAS (the "County") to be effective on the Effective Date
(as defined below).
RECITALS
WHEREAS , certain terms used in these recitals are defined in Article I ; and
WHEREAS , Developer, Path Development, the County , and the City are sometimes individually
referred to as a "!J!!:ty" and collectively as the "Parties"; and
WHEREAS , the City is a home rule City of the state of Texas located within the County ; and
WHEREAS , this Agreement concerns the appro x imately 836 acres of real property located within
the extraterritorial jurisdiction of the City (the "Property"), which Property is more particularly
described by metes and bounds and depicted on Exhibit A attached hereto ; and
WHEREAS , approximately 36 acres of the Property will be utilized for commercial purposes (as
more fully defined herein , the "Commercial Property"), which Commercial Property is more
particularly described by metes and bounds and depicted on Exhibit A-1 attached hereto; and
WHEREAS , Developer and Path Development are the current owner(s) of the Property; and
WHEREAS, the City has exclusive jurisdiction over platting regulations for property located
within the City 's extraterritorial jurisdiction; and
WHEREAS, the Parties intend for this Agreement to take effect on the date this Agreement is
executed by all Parties (the "Effective Date "); and
WHEREAS, the Developer and Path Development plan to develop the Property, including the
Commercial Property , as a mixed use development consisting of residential and commercial uses ,
and other uses as depicted on the Conceptual Plan (hereinafter defined) upon the execution of this
Agreement and subsequent issuance of PID Bonds (hereinafter defined) for the payment of certain
costs for the construction and acquisition of certain Public Improvements and certain other
associated costs to benefit the single-family residential portion of the Property, and for the
repayment to Developer for certain costs advanced for the construction and acquisition of certain
Public Improvements to benefit the Property as set forth in this Agreement and as determined by
future PID related agreements, if any, subject to applicable law; and
WHEREAS, in consideration of the Developer and Path Development's agreements contained
herein to accomplish the high-quality development of the Property envisioned by the Parties and
to provide financing to Developer for the Project (hereinafter defined), the County has created : (i)
Estates at Eagle Mountain Lake Development Agreement -Page 2
the Bonds Ranch Public Improvement District (the "PID") and (ii) the Bonds Ranch O&M Public
Improvement District (the "O&M PID") in accordance with Chapter 372 of the Texas Local
Government Code, as amended (the "PID Act"); and
WHEREAS, water, sewer, drainage, roadway , and other public infrastructure (the "Public
Infrastructure") is not currently available to serve the Developer and Path Development's intended
development of the Property; and
WHEREAS , the Parties intend that the Property be developed as a mixed-use development,
consisting of residential and commercial uses including open space , and other public and private
amenities (the "Project") that will benefit and serve the present and future citizens of the City ,
including the creation of substantial future tax base for the City; and
WHEREAS , the Property shall be developed and used pursuant to the ordinances and other
regulations of the City and /or County as applicable to property in the extraterritorial jurisdiction
of the City , as they exist , may be amended or in the future arising, except as same may be provided
for or otherwise modified by: (i) this Agreement, (ii) the Conceptual plan ("Conceptual Plan"),
which Conceptual Plan is attached hereto as Exhibit C, and (iii) the design standards, which design
standards are attached hereto as Exhibit D ("Design Standards"); and
WHEREAS, the Property is currently entirely in the extraterritorial jurisdiction of the City; and
WHEREAS, the Parties intend that the City shall be the exclusive provider of retail potable water
services to the Project; and
WHEREAS , the Parties intend the City shall be the exclusive provider of retail sewer services to
the Project; and
WHEREAS, the Parties intend that Developer will convey approximately 32 acres for a middle
school site to Eagle Mountain Saginaw Independent School District (the "ISD"); and
WHEREAS , the Parties intend that the Commercial Property be permitted to be annexed by the
City upon final plat application for the Commercial Property , and the Commercial Developer
hereby consents to and requests such annexation;_and
WHEREAS, the Parties intend that the remainder of the Property be permitted to be annexed by
the City after full repayment of the PID Assessments, and Developer hereby consents to and
requests such annexation at such time; and
WHEREAS , the Parties agree that this Agreement constitutes a "permit" within the meaning of
Chapter 245 , Texas Local Government Code.
NOW THEREFORE, for and in consideration of the mutual covenants of the Parties set forth in
this Agreement, and for other good and valuable consideration the receipt and adequacy of which
are acknowledged and agreed by the Parties , the Parties agree as follows:
Estates at Eagle Mountain Lake Development Agreement -Page 3
ARTICLE I
DEFINITIONS
Unless the context requires otherwise , the following terms shall have the meanings hereinafter set
forth:
Administrative Expenses shall include, without limitation, expenses incurred by the County in
the establishment, administration , and operation of the PID , as applicable including , but not limited
to , the costs of legal counsel , engineers , accountants , financial advisors, investment bankers or
other consultants and advisors.
Agreement means this Estates at Eagle Mountain Lake Development Agreement.
Assessment(s) means the special assessments levied on property within the PID pursuant to
Chapter 372 of the Texas Local Government Code on the Property , which may be levied on an
improvement area basis , under one or more Assessment Orders to reimburse Developer for a
portion of the Public Improvements benefitting the Property as set forth in the Service and
Assessment Plan, either through the issuance of PID Bonds or through an approved
Reimbursement Agreement, as well as payment of Administrative Expenses and repayment of the
PID Bonds and the costs associated with the issuance of the PID Bonds.
Assessment Order means an order approved by the County Commissioners Court under the PID
Act establishing one or more Assessment(s) to pay for the estimated costs of the Public
Improvements set forth in the Service and Assessment Plan, Administrative Expenses as well as
any other costs associated with the issuance of the PID Bonds that provide a special benefit to such
property within the PID.
City means the City of Fort Worth, Texas , a municipality located primarily in Tarrant County,
Texas.
City Code means the Code of Ordinances and all ordinances and regulations of the City , as they
exist, may be amended or in the future arising.
City Council means the City Council of the City.
City Manager means the current or acting chief executive officer of the City , an Assistant City
Manager or a person designated to act on behalf of that individual if the designation is in writing
and signed by the current or acting chief executive officer .
City Regulations means any ordinance , rule , regulation , standard , policy , order, guideline, master
plans , or other City-adopted or City-enforced requirement, in effect on the Effective Date, save for
any amendments that may be required by state law to protect the health or safety of the residents
of the City , and including the Design Standards; provided, however, that it shall only include those
City Regulations that are applicable to properties located in the extraterritorial jurisdiction of the
City and those additional regulations applicable per this Agreement.
Estates at Eagle Mountain Lake Development Agreement -Page 4
Commercial Developer m eans , collectivel y, the owners of the Commercial Property , which , as
of the Effective Date , include (i) the Devel oper, as it relates to the North Commercial Property and
(ii) Path Development, as it relates to th e South Commercial Property , and their respective
permitted successors and assigns , respon sible for developing and causing the Commercial Property
to be developed in accordance with this Agreement.
Commercial Property means collectively, the North Commercial Property and the South
Commercial Property.
Completion Agreement means an agreement between the Developer and the trustee for a
particular series of PID Bonds in which the Developer agrees to complete the applicable Public
Improvements and /or Non-PID Improvements under the terms set forth therein and as further
described in Section 3.1 hereof. Provided , however, that no Completion Agreement shall require
the po sting of a bond or other financial security , or escrow , except as specifically provided herein
or as otherwise required by an investor related to a series of PID Bonds.
County means Tarrant County , Texas.
Developer means MM Bonds 836 , LLC and its permitted successors and assigns, responsible for
developing the Project and causing the Property , excluding the South Commercial Property, to be
developed in accordance with thi s Agreement.
Development means the new development on the Property constructed in accordance with this
Agreement, and which constitutes the Project.
Effective Date means the date upon which the last of all of the Parties has approved and duly
executed this Agreement.
End Buyer means any developer, homebuilder, ten ant , user , or owner of a Fully Developed and
Improved Lot, that is not the Developer or Commercial Developer.
Force Majeure means an y act that (i) materially and adversely affects the affected Party 's ability
to perform the relevant obligations under this Agreement or delays such affected Party 's ability to
do so , (ii) is beyond the reasonable control of the affected Party , (iii) is not due to the affected
Party 's fault or negligence and (iv) could not be avoided , by the Party who suffers it , by the
exercise of commercially reasonable efforts. "Force Majeure" shall include: (a) natural
phenomena, such as storms , floods , lightning and earthquakes ; (b) wars , civil disturbances , revolts ,
insurrections , terrorism , sabotage and threats of sabotage or terrorism; ( c) transportation disasters ,
whether by ocean , rail , land or air ; (d) strikes or other labor dispute s that are not due to the breach
of any labor agreement by the affected Party ; (e) fires ; (f) epidemics or pandemics; (g)
governmental shutdowns ; (h) actions or omissions of a governmental authority (including the
actions of the City in its capacity as a governmental authority) that were not voluntarily induced
or promoted by the affected Party , or brought about by the breach of its obligations under this
Agreement or any applicable law or failure to comply with City Regulations ; (i) significant and
unusual changes in market condition ; and U) any strike or labor dispute involving the employee s
of the Developer, Commercial Developer, or an y affiliate of the Developer or Commercial
Developer, other than industry or nationwide strikes or labor disputes.
Es tates at Eagle Mountain Lake De velopment Agreement -Page 5
Fully Developed and Improved Lot means any lot in the Property , regardless of proposed use,
and for which a final plat has been approved by the City and recorded in the Real Property Records
of the County.
HOA means the Homeowners ' Association governing the Single-Family Property and charged
with maintaining certain open spaces and other obligations more particularly set forth in the
declaration of covenants, conditions and restrictions to be recorded against the Single-Family
Property.
Non-PID Improvements means those improvements , other than the Public Improvements , to be
constructed by the Developer necessary to deliver finished lots to homebuilders within the PID ,
including , but not limited to: (i) the earthwork and erosion control , drainage, retaining walls , and
screening walls for each phase as required by the Design Standards and other applicable terms and
conditions of this Agreement, (ii) the landscaping and entry feature improvements for the first
phase as described in the Opinion of Probable Cost attached hereto as Exhibit B , and (iii) the
landscaping and any additional entry feature improvements , if any , for each future phase of the
Development, consistent with the landscaping and entry feature improvements installed in the first
phase. Such improvements may be modified by the Developer and the County in connection with
the execution of a Completion Agreement or as otherwise agreed to by such Parties. Provided , the
Non-PID Improvement definition does not include the amenity center.
North Commercial Property means that portion of the Property at the intersection of Peden Road
and FM 1120 identified as "Commercial" and being approximately +/-20 acres as depicted on the
Conceptual Plan that the Developer intends to be developed and used for neighborhood
commercial uses , as such property is described by metes and bounds and depicted on Exhibit A-
l attached hereto.
Notice means any notice required or contemplated by this Agreement (or otherwise given in
connection with this Agreement).
Parcel(s) means any parcel of land located within a PID identified by either a tax map
identification number assigned by the Tarrant Appraisal District for real property tax purposes or
by lot and block number in a final subdivision plat recorded in the Real Property Records of Tarrant
County.
Path Development means Beaten Path Development-MD Commercial, LLC , a Texas limited
liability company , and its permitted successors and assigns , responsible for developing the South
Commercial Property in accordance with this Agreement.
PID Act means Chapter 3 72 , Texas Local Government Code , as amended .
PID Bonds means public improvement district bonds issued by the County and secured by
Assessments to finance all or a portion of the Public Improvements.
Property means the real property described by metes and bounds and depicted on Exhibit A.
Public Improvements means all Public Infrastructure that is required to service the PID ,
including, but not limited to, arterial and local streets , water, sewer, storm drainage , parks, trails ,
Estates at Eagle Mountain Lake Development Agreement -Page 6
and open space improvements and appurtenances providing special benefit to development phases
and /or planning area in the PID as authorized by the PID Act, and are required to be constructed
pursuant to this Agreement that will be owned by the City , the ISD , the County , Texas Department
of Transportation, the public , or other governmental or quasi-governmental entity permitted to
own such public improvements.
Real Property Records of Tarrant County means the official land recordings of the Tarrant
County Clerk's Office.
Reimbursement Agreement means the agreement between the County and the Developer in
which Developer agrees to fund certain costs of the Public Improvements and the County agrees
to reimburse the Developer for a portion of such costs from the proceeds of Assessments and /or
the proceeds of PID Bonds , pursuant to the Service and Assessment Plan and /or the applicable
PID Bonds indenture .
Rio Claro Property means the real property generally depicted on Exhibit G.
Single-Family Property means that portion of the Property identified as "Lots " and being
identified on the Conceptual Plan that the Developer intends to be developed and used for single-
family lots.
South Commercial Property means that portion of the Property at the intersection of Bonds
Ranch Road and FM 1220 identified as "Commercial" and being approximately +/-16 acres as
depicted on the Conceptual Plan that Path Development intends to be developed and used for
neighborhood commercial uses , as such property is described by metes and bounds and depicted
on Exhibit A-1 attached hereto.
Supplemental Services is defined in Section 3.2(a).
2.1 Scope of Agreement.
ARTICLE II
DEVELOPMENT
(a) This Agreement contemplates a plan for development and use of the Property in
accordance with this Agreement and the City Regulations applicable to properties located in the
extraterritorial jurisdiction of the City , except as same may be modified by this Agreement,
together with future actions by the Parties , that if approved , will establish the terms and conditions
of annexation of the Property into the City, subject to the terms , conditions , limitations of this
Agreement and applicable law.
(b) The Developer and Path Development represent and warrant that , collectively, they
are the owners of the Property as of the Effective Date .
2.2 Development Overview -Estates at Eagle Mountain Lake Development.
(a) The Developer and Path Development will undertake or cause the undertaking of
the design , development, and construction of the Development. The Development is generally
Estates at Eagle Mountain Lake Development Agreement -Page 7
shown on the Conceptual Plan attached as Exhibit C hereto , which is subject to modifications in
accordance with Section 10. 7 of this Agreement, and the City agrees and acknowledges that the
number of residential lots shall be, for the single-family lots , the lot counts indicated on the
Conceptual Plan. In the event Developer or Path Development must adjust the location of the
drainage areas on the Conceptual Plan as a result of the drainage study submitted by Developer or
Path Development and approved by City , then the City agrees to modifications of the Conceptual
Plan accordingly. The City agrees to recommend approval of the Developer or Path Development 's
future concept plan in accordance with the City 's Subdivision Ordinance to the City Plan
Commission consistent with this Agreement and attached Conceptual Plan.
(b) Upon completion, inspection and acceptance by the City , County or other
applicable governmental entity , such governmental entity , as applicable , shall own and /or operate
and maintain all of the Public Infrastructure; subject to certain maintenance responsibilities of the
HOA for any portion, if any , of the Public Infrastructure related to open spaces , parks, common
areas , right-of-way irrigation systems , right-of-way landscaping, screening walls, drainage areas ,
detention areas , bar ditches , and any other common improvements or appurtenances not
maintained and operated by the City or County or other applicable governmental entity.
(c) The Development shall comply with the City Regulations , and associated design
standards. In the event of a conflict between the Conceptual Plan and/or the Design Standards
with the City Regulations , this Agreement, including the Design Standards and Conceptual Plan
shall control now and in the future , and the Developer, Commercial Developer, and the
Development shall be permitted to follow the Conceptual Plan and /or the Design Standards. In the
event of a conflict within this Agreement between any of the Design Standards and the Conceptual
Plan, the Conceptual Plan shall control.
ARTICLE III
PUBLIC IMPROVEMENT DISTRICTS
3 .1 Public Improvement District.
(a) Prior to the Effective Date , the County has created the PID, to fund , in part, the
Public Improvements that will confer a special benefit upon the Property.
(b) PID funding of certain Public Improvements, as authorized by the PID Act, will
include , to the maximum extent authorized by State law, and only as requested by the Developer,
one or more of the following: (i) annual payments made pursuant to a Reimbursement Agreement
by the County to the Developer of Assessments not pledged to the repayment of PID Bonds ; (ii)
the issuance by the County of PID Bonds secured by Assessments ; or (iii) any other method
approved by the Developer and the County.
(c) The Public Improvements to be funded by the PID will be described in the Service
and Assessment Plan (as hereinafter defined), which Public Improvements are described in this
Agreement and confer a special benefit on the Property . The total estimated cost of the Public
Improvements (the "PID Project Costs") will be as stated in the Service and Assessment Plan, as
amended.
Estates at Eagle Mountain Lake Development Agreement -Page 8
(d) The Developer shall determine the estimated PID Project Costs, and the County
will prepare the Service and Assessment Plan for the PID (the "Service and Assessment Plan").
After the County approves the final PID Project Costs , prepares a proposed assessment roll based
thereon, and files the Service and Assessment Plan and proposed assessment roll with the County
Clerk, or other applicable party , for public inspection, the County will levy Assessments against
the Property within the PID.
(e) The County shall review and update the Service and Assessment Plan consistent
with the requirements of Section 372.013(b) of the PID Act. As needed for consistency with the
updated Service and Assessment Plan and consistent with the requirements of Sections 372 .019
and 3 72.020 of the PID Act, the County shall make supplemental assessments, reassessments or
new assessments such that Assessments reflect the updated PID Project Costs. Concurrent with
the levy of Assessments and as needed to implement the Service and Assessment Plan, the County
and the Developer will enter into a Reimbursement Agreement that provides for the Developer's
construction of certain Public Improvements and the County's reimbursement to the Developer of
certain PID Project Costs.
(f) Subject to compliance with PID Act, the Assessment shall be set at a tax rate
equivalent as requested by the Developer, limited to achieve a maximum total tax stack of $3.09
per $100 in assessed value when including all taxing entities at the time of assessment for such
Parcel based upon the estimated average home value as defined in the Service and Assessment
Plan approved by the County Commissioners Court. Additionally , the cumulative Assessment
value to lien ratio for any Assessments levied over all or a portion of the PID shall not be less than
1.25: 1 based on the "as completed " appraised value of such area within the PID as provided in a
third-party appraisal for such area.
Prior to the levy of any Assessment that is intended to finance any offsite infrastructure
projects to be constructed by the Developer that also benefit property outside of the PID , the
Developer shall provide to the City and the County an engineer 's opinion of probable costs that
shows the costs of such projects and the allocation of such costs to all property benefitted by such
projects.
(g) The County will use its reasonable efforts to issue one or more series of PID Bonds
secured , in whole or in part, by Assessments levied against benefited property within the PID . PID
Bonds may also be secured by an y other revenue authorized by the PID Act or other State law and
approved by the County Commissioners Court. The net proceeds from the sale of PID Bonds (i.e.,
net of costs and expenses of issuance and amounts for debt service reserves and capitalized
interest) will be used to pay PID Project Costs.
(h) Notwithstanding the foregoing , the issuance of each series of PID Bonds is subject
to the following conditions:
(1) the adoption of an Assessment Order levying Assessments on all or any
portion of the Property benefitted by the Public Improvements being financed by the PID
Bonds;
Estates at Eagle Mountain Lake Development Agreement -Page 9
(2) the proceeds of the PID Bond from each series of PID Bonds shall be in an
amount estimated to be sufficient, when combined with a cash contribution by the
Developer, if applicable , to an account under a PID Bonds indenture , to fund the Public
Improvements for which such PID Bonds are being issued ;
(3) approval by the Texas Attorney General of the PID Bonds and registration
of the PID Bonds by the Comptroller of Public Accounts of the State of Texas;
( 4) Developer is current on all taxes , assessments , fees and obligations to the
County and the City , as applicable , including without limitation payment of Assessments;
(5) Developer is not in default under this Agreement, any Reimbursement
Agreement, any Developer continuing disclosure agreement, any Completion Agreement,
or any other agreement with the County or the City related to the PID;
(6) review and approval by the County and /or City , as applicable , of the plats
and construction plans for the Public Improvements for which the respective series of PID
Bonds are being issued to fund;
(7) the PID administrator and legal counsel has certified that the specified
portions of the costs to be paid from the proceeds of PID Bonds are eligible to be paid
therewith;
(8) the Public Improvements to be financed by the PID Bonds have been or will
be constructed according to the approved design specifications and construction standards
imposed by this Agreement, as confirmed by the City and the County ; and
(9) the County has determined that the PID Bonds are structured and marketed
appropriately , meet all regulatory and legal requirements and are marketable under
financially reasonable terms and conditions;
(10) the Developer or any assignee thereof shall have made any representations
or certifications then currently required by statutory or administrative law, including those
representations required by Sections 2274 .002, 2276 .002 , 2271.002 and 2252.152 of the
Texas Government Code ;
(11) (i) for the PID Bonds issued to pay for either (a) direct improvements which
only benefit a specific phase of development or (b) direct improvements which only benefit
a specific phase of development, zone improvements that benefit more than one specific
phase of development but less than all of the phases , and major improvements that benefit
all parcels within the PID , including the applicable specific phase (each such series of PID
Bonds , an "Improvement Area PID Bond"), a minimum value to lien ratio of at least 1.5: 1
(unless the County , in its sole discretion approves a lower value to lien ratio) using (x) in
the event the Public Improvements being financed with the proceeds of such PID Bonds
are not complete , the "as completed " appraised value as provided by an independent third-
party appraisal or (y) in the event the Public Improvements being financed with the
proceeds of such PID Bonds are all complete , as certified by the City and County , the retail
lot values as provided by an independent third-party appraisal and (ii) for PID Bonds issued
Estates at Eagle Mountain Lake Development Agreement-Page 10
to pay for only the major improvements that benefit the entire property within the PID, a
minimum value to lien ratio of at least 3: 1 (unless the County , in its sole discretion approves
a lower value to lien ratio) based on the "as completed" appraised value of the major
improvement area as provided in a third-party appraisal for such area;
(12) with respect to PID Bonds issued to pay for only the Major Infrastructure (as
defined below), the Developer shall execute a Completion Agreement, which Completion
Agreement shall provide that the Developer shall be required to : (i) complete or cause to
be completed all of the major water , sewer, drainage, and road infrastructure necessary to
serve the Development, including any onsite , offsite and /or oversizing major infrastructure
improvements that Developer is obligated to construct pursuant to this Agreement and that
benefit property outside of the PID but that are necessary to serve the Development as
provided herein (collectively , the "Major Infrastructure"), on a per phase basis or otherwise
as provided elsewhere in this Agreement, and (ii) provide evidence acceptable to the
County that the Developer has sufficient available funds to complete the Major
Infrastructure to the extent that Assessments or the proceeds of PID Bonds are not available
to finance such improvements; provided that for any oversizing of the Major Infrastructure
as contemplated in this Agreement, the City's commitment to fund such oversizing as
provided in this Agreement, is deemed acceptable evidence that there is sufficient funds
available for such oversizing of the Major Infrastructure; and
(13) with respect to each series of Improvement Area PID Bonds , including
Improvement Area PID Bonds for the first phase of development, the Developer shall
execute a Completion Agreement, which Completion Agreement shall provide that the
Developer shall be required to (i) complete all of the Non-PID Improvements for the phase
of development to which the Completion Agreement relates prior to the County issuing a
series of Improvement Area PID Bonds to finance phase specific improvements benefitting
the following phase of development and (ii) provide evidence acceptable to the County that
the Developer has sufficient available funds to complete the Non -PID Improvements for
the phase of development to which the Completion Agreement relates .
3.2 Operation and Maintenance Public Improvement District.
(a) In addition to the PID contemplated in Section 3.1 above , prior to the Effective
Date, the County has created the O&M PID .
(b) Promptly following preparation and approval of a preliminary service and
assessment plan for the O&M PID in accordance with this Agreement, and subject to the County
Commissioners Court making findings that the Supplemental Services confer a special benefit on
the Property , the County Commissioners Court shall consider an order levying special assessments
on the property within the O&M PID benefitting from the Supplemental Services (the "O&M
Assessment") and the final service and assessment plan for the O&M PID (the "O&M Service and
Assessment Plan"). The O&M Service and Assessment Plan, along with any amendment thereto,
shall be presented to the Developer for review and comment at least thirty (30) days prior to the
County Commissioners Court consideration of the same. The O&M Assessments collected from
the O&M PID shall be utilized to finance the operation, repair, and maintenance of the rights -of-
way improvements , streets, public drainage facilities (excluding bar ditches maintained by the
HOA), capital replacement reserves , public safety services (excluding fire and EMS services),
Estates at Eagle Mountain Lake Development Agreement -Page 11
O&M PID collection fees , as set forth in Section 3 .2( c) of this Agreement and as authorized by
the PID Act ( collectively , the "Supplemental Services").
(c) The equivalent tax rate for the first year the O&M Assessment is levied for each
phase in connection with the O&M PID shall be no greater than an amount to pay for the actual
costs of the Supplemental Services, based upon assessed valuation as provided by the Tarrant
Appraisal District, and such levy shall provide for the financing of the Supplemental Services. The
O&M Assessments shall be levied on a per phase basis, with each initial year of an applicable
O&M Assessment being no greater $0.05 per $100 assessed value , based upon assessed valuation
as provided by the Tarrant Appraisal District. In subsequent years, the County will adjust the
assessment rate as necessary and that the rate per $100.00 of valuation shall be consistent for all
lot types as well as annual changes in the actual expenses of the Supplemental Services on an as
needed basis to fully reimburse the County for actual expenses of the administrative costs and
Supplemental Services . The O&M Assessment will include a $0.05/$100.00 levy on all of the
property within the District for maintenance and operation of the public roads, which actual
assessment amount shall be determined as provided by an engineering costs estimate which shall
be updated every five years. The remaining costs for the Supplemental Services shall be
determined as set forth in the annual service plan update to the O&M Service and Assessment
Plan.
3.3 Commercial Property. The City acknowledges and agrees that the Commercial
Property is located within the boundaries of the PID, but the Commercial Property shall not be
subject to assessments under the PID. To the extent that the Commercial Property benefits from
the Public Improvements to be financed with Assessments, the costs of such Public Improvements
shall be allocated to the Commercial Property and such costs shall be the responsibility of the
Developer or the respective Commercial Developer, as agreed upon by such Parties. The
Commercial Developer acknowledges and agrees that the Commercial Property is within the
boundaries of the O&M PID and shall be subject to the O&M Assessments until the Commercial
Property is annexed into the City corporate limits.
ARTICLE IV
[RESERVED]
ARTICLE V
ADDITIONAL DEVELOPER AND CITY OBLIGATIONS
5 .1 Mandatory Homeowners' Association. The Developer shall , prior to the sale of
any fully developed residential lots create and impose one or more HOA over the single-family
residential portions of the Property , which HOA, in accordance with City Regulations and through
its covenants, conditions and restrictions filed in the Real Property Records of the County or its
by-laws, shall be required to assure compliance with this Agreement, and shall be required to
remain solvent and assess and collect annual fees from owners in an amount calculated to operate
and maintain the open spaces, common areas , screening walls, walking trails , amenity centers, bar
ditches, detention areas, parks, and other related improvements or appurtenances that are not
required to maintained and operated by a governmental entity within the residential portion of the
Property. Common residential areas , including but not limited to all landscaped entrances to the
residential portions of the Property, and all other improvements not maintained by a governmental
Estates at Eagle Mountain Lake Development Agreement -Page 12
entity shall be maintained solel y by the HO A . The HOA shall not be required to pay ad valorem
taxes , Assessments , or O&M Assessments on any property owned by such HOA. The City and /or
County agree to grant a license or easement to the HOA, at no cost to the Developer or the HOA,
to allow the HOA to provide such maintenance service s as outlined in this Agreement.
5 .2 Water Services
(a) Water CCN and Capacity. It is intended that the City shall be the ultimate exclusive
provider of retail potable water services for the Property , and the City , the Developer, and the
Commercial Developer shall cooperate to transfer all necessary permits , existing certificate of
convenience and necessity ("CCN"), or other documents , if any needed , to the City to allow the
City to be the holder of the Property 's water certificate of convenience and necessity. The City
agrees that it will have and will reserve the necessary water capacity for the Property. The City
and the County will enter into an interlocal cooperation agreement that addresses ownership and
maintenance of the water infrastructure and related street repair standards. Prior to the construction
of the water infrastructure described in this Section 5 .2 , the City and the Developer must execute
one or more construction agreements that address the respective Party 's obligation to construct
and /or pay for the costs of the water infrastructure consistent with the terms and conditions of this
Section 5 .2 and any other applicable provisions of this Agreement. Provided , however, that no
construction agreement or an y other similar agreement shall require the posting of a bond or other
financial security , or escrow , except as specifically provided elsewhere in this Agreement. Any
required community facilities agreement or construction agreement shall be modified for on-site
or off-site infrastructure and for in-City or in-ETJ (as defined herein) infrastructure in order to
make the agreement consistent with this Agreement.
(b) Internal Water Infrastructure. Internal water lines shall be looped to provide for
effective circulation of water and adequate fire flows with no dead-end mains , except when
approved by the City. If temporary dead-end mains are used as part of a phased growth plan, such
plans shall include adequate flushing facilities, as approved in writing by the City. Where
temporary dead -end mains are used , the Developer and Commercial Developer, as applicable, shall
provide to the City plans to eliminate the temporary dead -end mains as development progresses.
In addition, the Developer shall be responsible for constructing Developer's portion of a 24.'.'._main
water transmission line for the Northside 3 Regional Water Improvements (the "24" Northside 3
Regional Water Improvements ") through the Property as depicted and described in Exhibit E-1.
The Developer will work with the City to oversize the 24.'.'.. Northside 3 Regional Water
Improvements with the main transmission line being up to 24.'.'.. with the City paying its pro rata
share for any upsizing required to service property outside of the Property. For clarification
purposes , Developer will only be responsible for payment of costs associated with the construction
of the portions of the 24.'.'.. Northside 3 Regional Water Improvements necessary for , and
sufficiently sized to serve , the Property , and the City will be responsible for all costs above such
amount, which amounts shall be paid in accordance with Section 5.5. Provided that Developer is
permitted by the owners of the Rio Claro Property (or an y other land owner/developer with vested
water capacity) to borrow capacity as outlined in Section 5 .2( c )(9), Developer shall not be required
to construct any of the offsite portion of the 24.'.'.. Northside 3 Regional Water Improvements prior
to the second phase of the Development and Developer shall only be required to construct the
portions of the internal portion of the 24.'.'.. Northside 3 Regional Water Improvements on a phased
basis as is required to service such phase of the Development.
Estates at Eagle Mountain Lake Development Agreement -Page 13
(c) Offsite Water Infrastructur e.
(1) The Parties ackno w ledge and agree that the construction of one or more of
the offsite water lines ("Offsite Water Line") more particularly described on Exhibit E-1
attached hereto and incorporated herein by this reference for all purposes, is necessary to
provide water service to the future phases of the Development. The Developer and /or the
City shall be responsible for constructing or causing the construction of the offsite water
infrastructure, as further outlined herein to provide water service to the Property. All of the
projects for offsite water infrastructure to be constructed by the Developer shall be included
as projects eligible for reimbursement through the PID , but only to the extent that such
projects do not include the costs of oversizing or the costs allocable to property outside of
the PID that benefits from such projects . The Developer and the City may agree to modify
the route of the Off site Water Line.
(2) The City shall design and construct, at the City 's sole cost and expense , the
54:_ Northside 3 Regional Water Improvements (as depicted and described on Exhibit E-
!) (the "54" Northside 3 Regional Water Improvements ") on or before December 31 , 2028 .
(3) The Developer and the City acknowledge and agree that the offsite portions
of the 24:_ Northside 3 Regional Water Improvements are to be designed and constructed
in coordination with the owner(s) of the Rio Claro Property to determine water service
deadlines and schedules for future phases. The City agrees that the Developer may take
responsibility for completing all or any offsite portion of the 24:_ Northside 3 Regional
Water Improvements necessary for servicing the Development if the Developer 's schedule
dictates an earlier completion and: (i) as solely determined by the City, the owners of Rio
Claro Property have not already entered into formal negotiations with the City, or (ii) the
owners of Rio Claro Property agree to allow the Developer to design and construct the
offsite portions of the 24:_ Northside 3 Regional Water Improvements or any portion
thereof. If the owners of the Rio Claro Property do not allow the Developer to take
responsibility for completing all or any offsite portion of the 24:_ Northside 3 Regional
Water Improvements necessary for servicing the Development, then the City agrees to
coordinate with the Developer and the owners of the Rio Claro Property regarding the
timing of the construction and completion of all or any offsite portion of the 24:_Northside
3 Regional Water Improvements necessary for servicing the Development to accommodate
Developer's development timeline for the Development, and in the event such timelines
are not accommodated , the City agrees that the Developer shall have step-in rights and may
perform all or any offsite portion of the 24:_ Northside 3 Regional Water Improvements
necessary for servicing the Development to accommodate the Developer's development
time line.
(4) In addition to the City 's obligation to pay for any upsizing of the onsite
portion of the 24:_Northside 3 Regional Water Improvements , as outlined in Section 5.2(b),
the City agrees to pay for any upsizing of the offsite portions of the 24:_ Northside 3
Regional Water Improvements that the City requires so that the 24:_ Northside 3 Regional
Water Improvements may serve any property other than the Property ; and the City agrees
to make payment in accordance with Section 5.5. For clarification purposes, Developer
will only be responsible for payment of costs associated with the construction of the
Estates at Eagle Mountain Lake Development Agre ement -Page 14
portions of the 24.'.'.. Northside 3 Regional Water Improvements necessary for , and
sufficiently sized to serve , the Property, and the City will be responsible for all costs above
such amount.
(5) The City will use any and all of its available resources to aid Developer in
acquiring (or requiring others to dedicate) necessary easements for the 24.'.'.. Northside 3
Regional Water Improvements that Developer is required to construct pursuant to the terms
of this Agreement and shown on Exhibit E-1 , provided, the City will not be required to
incur any expenses related to such easement acquisition or be required to use eminent
domain or its condemnation powers. Nothing in this Agreement shall prohibit the City from
using its eminent domain and condemnation powers or prohibit Developer from causing
another governmental entity to use its eminent domain and condemnation powers to
acquire such easements.
City agrees to acquire any and all easements necessary for the installation of the
water lines to be constructed by the City as depicted on Exhibit E-1 , at the City 's sole cost
and expense. In the event Developer exercises its step-in rights or otherwise takes
responsibility for constructing all or any of such improvements necessary for servicing the
Development, Developer shall not be responsible for any additional costs related to the
construction of the such improvements or the obtainment of easements that Developer
would not have been required to pay in the event the City had constructed such
improvements and /or obtained such easements , and the City shall pay Developer for such
costs in accordance with Section 5 .5.
(6) The City and Developer agree to require other developers and property
owners in the area that will be serviced by the offsite portions of the 24.'.'._ Northside 3
Regional Water Improvements to fairly participate in the cost of construction thereof. The
City agrees to use its best efforts to help Developer coordinate with the owners of the Rio
Claro Property and any other property owners needed to help Developer acquire the
easements for the offsite portions of the 24.'.'.. Northside 3 Regional Water Improvements.
(7) The City shall design and construct the "Northside 4 Regional Water
Improvements " (as depicted and described on Exhibit E-2), which are planned to be
completed on or before December 31 , 2028. Developer shall contribute its proportional
share of costs through the payment of pro rata fees to the City , such as the water main
capacity charge, which is due at the time of final plat for the phase in which Northside 4
Regional Water Improvements will be necessary. In the event the Northside 4 Regional
Water Improvements are not completed , or not anticipated to be completed, on or before
December 31 , 2028, the Developer shall have step-in rights and may perform all or any
portions of the Northside 4 Regional Water Improvements necessary for servicing the
Development to accommodate the Developer 's development timeline . In the event
Developer exercises such step-in rights , the City agrees to pay for any upsizing of the
Northside 4 Regional Water Improvements that the City requires so that the Northside 4
Regional Water Improvements may serve any property other than the Property ; and the
City agrees to make payment for such costs in accordance with Section 5.5.
Estates at Eagle Mountain Lake Development Agreement-Page 15
(8) Nothing in this section shall prohibit Developer from causing another
governmental entity other than the City to use its eminent domain and condemnation
powers to acquire easements necessary for any offsite water improvements.
(9) If agreed upon between the owners of the Rio Claro Property ( or any other
land owner/developer with vested water capacity) and the Developer, the Developer may
utilize a portion of the ex isting vested water capacity from the Rio Claro Property for the
Development. Developer will still be responsible for ensuring any and all onsite portions
of the water infrastructure necessary to service the Development meet the minimum design
standards of the City and are in place for any phased development of the Development,
pursuant to the requirements herein. The City agrees that it shall maintain any and all water
infrastructure servicing the Property .
(10) The City and Developer acknowledge and agree that parallel mains ( either
8.'.'.. or 12J may be required for retail connections , and to the extent parallel lines are
necessary, Developer shall only be responsible for the costs of such line necessary to
provide service to the Property. By way of example, if the City requires the construction
of a 24.'.'.. water line to service property other than the Property , and the Property only
requires construction of a 8.'.'.. or 12.'.'.. line , Developer shall only be responsible for the costs
of such 8.'.'.. or 12.'.'.. line , and shall not be responsible for the costs associated with any parallel
mams .
5.3 Sewer Services.
(a) Sewer C CN and Capacity. It is intended that the Property utilize City sewer
systems and that such sewer systems will be installed as provided herein. The City shall be the
ultimate exclusive provider of retail sewer services for the Property , and the City , the Developer,
and Commercial Developer, shall cooperate to transfer all necessary permits , existing CCN, or
other documents, if any needed , to the City to allow the City to be the holder of the Property's
sewer certificate of convenience and necessity if required by the State of Texas . City agrees that it
will have and will reserve the necessary sewer capacity for the Property. The City agrees that it
shall maintain any and all sewer infrastructure servicing the Property . The City and the County
will enter into an interlocal cooperation agreement that addresses ownership and maintenance of
the sewer infrastructure and related street repair standards. Prior to the construction of the sewer
infrastructure described in this Section 5.3, the City and the Developer must execute one or more
construction agreements that address the respective Party 's obligation to construct and /or pay for
the costs of the sewer infrastructure consistent with the terms and conditions of this Section 5 .3
and any other applicable provisions of this Agreement. Provided , however, that no construction
agreement or any other similar agreement shall require the posting of a bond or other financial
security , or escrow, except as specifically provided elsewhere in this Agreement. Any required
community facilities agreement or construction agreement shall be modified for on-site or off-site
infrastructure and for in-City or in -ETJ infrastructure in order to make the agreement consistent
with this Agreement.
Estates at Eagle Mountain Lake Development Agreement -Page 16
(b) Sewer Infrastructure.
(1) City shall be responsible for operation and maintenance of any
sewer infrastructure servicing the Property, including billing, provided however
that it may contractually delegate these functions to any entity authorized by
applicable law to provide those functions.
(2) For the first phase of the Development, Developer may construct a
force main sewer line from an onsite lift station to the City's existing offsite sewer
infrastructure (the "Phase 1 Sewer Improvements ") as shown on Exhibit F-1.
Developer shall be responsible for the costs of all Phase 1 Sewer Improvements
sufficient to serve approximately three hundred (300) residential lots and the South
Commercial Property , and the City shall be responsible for all costs of oversizing,
and the City agrees to make payment for such costs in accordance with Section 5.5.
( c) Lift Station s
(1) The City shall design , permit, and construct (i) a lift station ("Lift
Station A") ( on or before September 1, 202 7), which will utilize the associated force
main constructed by Developer with the Phase 1 Sewer Improvements , with
oversizing costs paid by the City pursuant to Section 5.3(b)(2) and in accordance
with Section 5.5 , and (ii) any other major sewer infrastructure required to serve the
Property (on or before December 31 , 2028). The City acknowledges Lift Station A
shall be located as generally depicted on Exhibit F-2 . All easements necessary for
the gravity sewer and force main which are located on the Property shall be
provided by the Developer and dedicated to the City at no cost to the City.
(2) So long as the City has completed Lift Station A , Developer shall
redirect such flow from the onsite lift station to Lift Station A concurrently with
Developer 's construction of Phase 2 of the Project.
(3) The Developer shall or has dedicated approximately one acre to the
City as shown on Exhibit H for another lift station ("Lift Station B "), which site
has been or will be dedicated as soon as practicable after the execution of this
Agreement by all parties but in no event later than thirty (30) days after the
execution of this Agreement by all parties. The City , at the City's sole cost and
expense , shall construct and complete Lift Station B and associated force main , as
depicted on Exhibit F-2 within thirty (30) months after the date of the dedication
of the site for Lift Station B from the Developer. The gravity sewer main receiving
future Lift Station B flows shall be designed and constructed by the Developer from
the receiving point to the downstream connection to Lift Station A concurrently
with Developer's construction of Phase 2 of the Project. The City will cost
participate in the oversizing of the gravity sewer necessary to serve property other
than the Property and agrees to make payment for such oversizing costs in
accordance with Section 5.5. The gravity line shall also receive the flows from the
onsite lift station at the time that the Phase 2 is constructed as outlined in Section
5.3(c)(2).
Estates at Eagle Mountain Lake Development Agreement -Page 17
(d) Step in Rights. In the event the City fails to timely construct or
complete any sewer infrastructure , including Lift Station A , necessary to service
the Development pursuant to the timelines provided in this Agreement, the
Developer shall have step-in rights to design , construct and complete such sewer
improvements and the City shall fully reimburse Developer for the costs expended
by Developer on such sewer improvements. In the event the Developer exercises
its step-in rights , the City shall be required to use its eminent domain/condemnation
powers to acquire any and all easements or property necessary for the development
and construction of such improvements. In the event the Developer exercises its
step-in rights , the City agrees to make payment for such costs expended by the
Developer in accordance with Section 5.5 . The City agrees that the Developer shall
have step-in rights and may perform all or any portion of the sewer improvements
necessary for servicing the Development to accommodate the Developer's
development timeline.
5.4 Other Improvements. Any other major water or sewer improvements not
specifically made a Developer obligation herein and not shown on Exhibits E-1, E-2, F -1, or F-2
as Developer obligations that are considered to be within the capital improvement plan of the City
shall be designed , permitted, and constructed by the City, at the City 's sole cost and expense.
5.5 Costs of Oversizing and Step In Rights.
(a) In the event Developer (i) constructs any oversizing, or (ii) exercises its
step-in rights as each are outlined in Sections 5 .2 and 5.3 of this Agreement, the City agrees
to make payment from lawfully available and otherwise unencumbered funds (which , as
of the Effective Date, the City reasonably believes are available for such costs) for such
oversizing costs expended by the Developer or costs expended to step in and construct such
improvements within thirty (30) days of receiving each invoice from Developer for such
costs , provided that Developer has complied with the public procurement laws applicable
to the City.
(b) In the event the City will not agree to pay the Developer for any oversizing,
Developer shall be permitted to construct such improvements sized to only serve the
Property and shall not be required to construct any oversized infrastructure and any
construction agreement or any other agreement shall be modified accordingly.
5.6 Public Safety. The Developer and Commercial Developer acknowledge and agree
that as of the Effective Date of this Agreement, the County or another governmental entity provides
law enforcement, police , code enforcement, emergency medical (EMS), ambulance or fire
prevention , protection or suppression services ( collectively, "Public Safety Services") to any
residents, businesses or others located on the Property. From and after the date of this Agreement,
the County (through the County Sheriff) shall be responsible for law enforcement and police
services and shall be responsible for Fire and EMS services (through Emergency Services District
#1) for the Property until the Property is annexed by the City.
Estates at Eagle Mountain Lake Development Agreement -Page 18
5.7 Streets and Thoroughfares.
(a) Internal Streets . The Developer shall build all streets in full compliance with
the following : (i) streets shall be concrete; (ii) streets shall be two 12' lanes (one lane in
each direction) and a 12: shoulder per lane ; (iii) streets may utilize 3: 1 bar ditches and open
storm drainage systems (including lay down curb with flumes, if elected by Developer in
Developer's sole discretion); and (iv) streets will not be required to have other types of
curbs or storm drains.
(b) Bonds Ranch Road .
(I) General Requirements . The Developer shall construct Bonds Ranch
Road adjacent to the phase being developed by Developer within the Property in
accordance with the City's Master Thoroughfare Plan (the "Bonds Ranch Road
Improvements"). The Bonds Ranch Road Improvements shall consist of the
construction of one -half of the ultimate cross-section in the City's Master
Thoroughfare Plan for Bonds Ranch Road (being two-lanes and the median) and
the future traffic signal at the intersection of Bonds Ranch Road and FM 1220 ,
which shall be built in accordance with the design provided by the County;
provided , however, that, with respect to such traffic signal, the Developer shall only
be responsible for paying its proportionate share of the costs as determined by the
latest Traffic Impact Analysis ("TIA") acceptance letter. Developer shall be
required to complete each portion of the Bonds Ranch Road Improvements prior to
acceptance for any phase of the Project within the Property immediately adjacent
to such lanes of the Bonds Ranch Road Improvements. The Bonds Ranch Road
Improvements adjacent to the South Commercial Property , including the adjacent
two lanes of Bonds Ranch Road and the traffic signal at the intersection of Bonds
Ranch Road and FM 1220 (together , the "Commercial Bonds Ranch Road
Improvements"), shall be completed by Developer prior to the acceptance of the
single -family phase of the Project immediately adjacent to the South Commercial
Property . Each portion of the Bonds Ranch Road Improvements required to be
constructed by the Developer as set forth hereinabove at any given time , including
the portions of the Bonds Ranch Road Improvements immediately adjacent to the
phase of the Project being developed by Developer and/or the Commercial Bonds
Ranch Road Improvements , as applicable , shall hereinafter be referred to as the
"Adjacent Bonds Ranch Road Improvements." The Developer shall dedicate (if not
already dedicated) the right-of-way to the applicable governmental entity for its
portion of Bonds Ranch Road, provided , however, that nothing in this Section shall
be construed to prohibit or prevent Developer from including the right-of-way in
any PID eligible costs or otherwise use the value of the right-of-way so dedicated
in any PID related transaction.
(II) County Early Construction Election. The County may elect to
construct any portion(s) of the Bonds Ranch Road Improvements prior to the time
that Developer has commenced construction of such Bonds Ranch Road
Improvements. In the event the County elects to construct any portion of the Bonds
Ranch Road Improvements, Developer shall be responsible for reimbursing the
Estates at Eagle Mountain Lake Development Agreement -Page I 9
so that pricing of the PID Bonds may occur. For the avoidance of doubt , the County
shall use its sole reasonable discretion to determine (i) whether and by what party
any delay in pricing has been caused and (ii) what constitutes a reasonable amount
of time for any extension under this provision. In this case , if and to the extent
Developer paid the County its actual costs of construction, such costs may be
reimbursed to the Developer from Assessments levied for the purpose of paying for
such costs or the proceeds of PID Bonds secured by such Assessments to the
maximum extent permitted by law .
(D) No PID Bonds To Be Issued; Construction Complete. For any
phase of the Project, in the event: (i) the County elects to construct the applicable
Adjacent Bond Ranch Road Improvements , (ii) the County completes construction
of such Adjacent Bonds Ranch Road Improvements prior to the levy of
Assessments related to the adjacent phase of the Project, (iii) Assessments are
levied to pay for , among other things , the costs to construct such Adjacent Bonds
Ranch Road Improvements , and (iv) PID Bonds secured by such Assessments are
not expected to be priced within 60 days after the levy of such Assessments , then ,
no later than 60 days after the levy of such Assessments , Developer shall pay to the
County in cash its actual costs of construction for such Adjacent Bonds Ranch Road
Improvements constructed by the County. Provided that the County is paid all of
its costs of construction of such Adjacent Bonds Ranch Road Improvements, then
no Escrow Deposit shall be required by Developer. In this case , if and to the extent
Developer paid the County its actual costs of construction , such costs may be
reimbursed to the Developer from Assessments levied for the purpose of paying for
such costs or the proceeds of PID Bonds secured by such Assessments to the
maximum extent permitted by law.
(E) No PID Bonds To Be Issued; Construction Incomplete. For any
phase of the Project, in the event: (i) the County elects to construct the applicable
Adjacent Bond Ranch Road Improvements, (ii) the County has started , but has not
completed construction of such Adjacent Bonds Ranch Road Improvements prior
to the levy of Assessments related to the adjacent phase of the Project, (iii)
Assessments are levied to pay for , among other things , the costs to construct such
Adjacent Bonds Ranch Road Improvements, and (iv) PID Bonds secured by such
Assessments are not expected to be priced within 60 days after the levy of such
Assessments , then , no later than 60 days after the levy of Assessments , Developer
shall (x) pay to the County in cash its actual costs of construction for such Adjacent
Bonds Ranch Road Improvements completed by the County at such time and (y)
pursuant to the applicable Escrow Agreement, make an Escrow Deposit in an
amount equal to the total remaining budgeted amount needed to complete the
applicable portion of the Adjacent Bonds Ranch Road Improvements by the County
(which budgeted amount shall be based upon actual bids received by the County).
In this case, if and to the extent Developer paid the County its actual costs of
construction, such costs may be reimbursed to the Developer from Assessments
levied for the purpose of paying for such costs or the proceeds of PID Bonds
secured by such Assessments to the maximum extent permitted by law.
Estates at Eagle Mountain Lake Development Agreement -Page 22
caused by the Developer, then the County may , in its sole and absolute discretion ,
extend the 60 day deadline by a reasonable amount of time to allow Developer to
address the cause of the delay so that pricing of the PID Bonds may occur. For the
avoidance of doubt , the County shall use its sole reasonable discretion to determine
(i) whether and by what party any delay in pricing has been caused and (ii) what
constitutes a reasonable amount of time for any extension under this provision. In
this case , if and to the extent Developer paid the County its actual costs of
construction, such costs may be reimbursed to the Developer from Assessments
levied for the purpose of paying for such costs or the proceeds of PID Bonds
secured by such Assessments to the maximum extent permitted by law.
(C) PID Bonds To Be Issued; Construction Incomplete. For any
phase of the Project, in the event: (i) the County elects to construct the applicable
Adjacent Bond Ranch Road Improvements , (ii) the County has started , but has not
completed construction of such Adjacent Bonds Ranch Road Improvements prior
to the levy of Assessments related to the adjacent phase of the Project, (iii)
Assessments are levied to pay for , among other things , the costs to construct such
Adjacent Bonds Ranch Road Improvements, and (iv) PID Bonds secured by such
Assessments are expected to be priced within 60 days after the levy of such
Assessments , then , at the closing of such PID Bonds , (a) the County shall be paid
from the proceeds of such PID Bonds for an amount equal to its actual costs of
construction for such Adjacent Bonds Ranch Road Improvements completed by the
County at such time and (b) in accordance with the applicable Escrow Agreement,
the Developer shall make an Escrow Deposit in an amount equal to the total
remaining amount needed to complete the Adjacent Bonds Ranch Road
Improvements by the County and not otherwise available to be paid for with the
proceeds of PID Bonds , based upon the budgeted amount thereof ( which budgeted
amount shall be based upon actual bids received by the County). In the event that
the PID Bond pricing fails to occur within 60 days after the levy of the associated
Assessments , then , no later than 60 days after the levy of Assessments , the
Developer shall (i) pay to the County in cash its actual costs of construction for
such Adjacent Bonds Ranch Road Improvements completed by the County at such
time and (ii) in accordance with the applicable Escrow Agreement, make an Escrow
Deposit in an amount equal to the total remaining budgeted amount needed to
complete the applicable portion of the Adjacent Bonds Ranch Road Improvements
by the County (which budgeted amount shall be based upon actual bids received by
the County), even if PID Bonds are to be issued in the future. Provided , however:
(x) if a delay in pricing is caus ed by the County, then the Developer and County
agree that the 60 day deadline for Developer to pay the County and make the
Escrow Deposit shall be automatically extended by a reasonable amount of time to
allow the County to address the cause of the delay so that pricing of the PID Bonds
may occur, (y) if there is a delay in pricing that is not caused by Developer or
County , then the Developer and County may agree to extend the 60 day deadline
by a reasonable amount of time to address the cause of the delay so that pricing of
the PID Bonds may occur, or (z) if there is a delay caused by the Developer, then
the County may , in its sole and absolute discretion , extend the 60 day deadline by
a reasonable amount of time to allow Developer to address the cause of the delay
Estates at Eagle Mountain Lake Development Agreement -Page 21
County for the costs to construct such portion of the Bonds Ranch Road
Improvements constructed by the County , to the extent and subject to the below
provisions. In the event the County elects to construct any portion(s) of the Bonds
Ranch Road Improvements , the County shall provide at least sixty (60) days' prior
written notice to Developer and shall describe the portion(s) of the Bonds Ranch
Road Improvements that the County is electing to construct. The Developer and
County shall then agree upon the portion(s) as a part of entering into the escrow
agreement as provided below.
(A) Escrow Deposit. In the event the County elects to construct the
Bonds Ranch Road Improvements , or any portion thereof, the County, Developer
and a trustee shall enter into an escrow agreement ( each, an "Escrow Agreement")
providing : (i) that Developer will deposit in escrow (the "Escrow Deposit") with
such trustee an amount equal to the costs of the Adjacent Bonds Ranch Road
Improvements being constructed by the County , subject to the below provisions set
forth in subparts (B) -(G); (ii) that the amount of the Escrow Deposit shall be
determined based upon the below provisions set forth in subparts (B) -(F); (iii) that
the County may withdraw the amounts expended by the County on the construction
of the Adjacent Bonds Ranch Road Improvements up to the amount of the Escrow
Deposit ; and (iv) such other terms and conditions as agreed upon by the Parties
and/or as provided below in subparts (B) -(G).
(B) PID Bonds To Be Issued; Construction Complete. For any phase
of the Project, in the event: (i) the County elects to construct the applicable Adjacent
Bond Ranch Road Improvements, (ii) the County completes construction of such
Adjacent Bonds Ranch Road Improvements prior to the levy of Assessments related
to the adjacent phase of the Project, (iii) Assessments are levied to pay for , among
other things , the costs to construct such Adjacent Bonds Ranch Road
Improvements , and (iv) PID Bonds secured by such Assessments are expected to
be priced within 60 days after the levy of such Assessments , then, at the closing of
such PID Bonds, the County shall be paid from the proceeds of the PID Bonds for
its actual costs of construction for such Adjacent Bonds Ranch Road Improvements
constructed by the County. Provided that the County is paid all of its costs of
construction for such Adjacent Bonds Ranch Road Improvements, then no Escrow
Deposit shall be required by Developer. In the event, however, that the PID Bond
pricing fails to occur within 60 days after the levy of the associated Assessments ,
then, on or before the 60 th day following the levying of such Assessments , the
Developer shall pay to the County in cash, all of its actual construction costs
expended on such Adjacent Bonds Ranch Road Improvements , even if PID Bonds
are to be issued in the future. Provided , however: (x) if a delay in pricing is caused
by the County, then the Developer and County agree that the 60 day deadline for
Developer to pay the County as provided herein shall be automatically extended by
a reasonable amount of time to allow the County to address the cause of the delay
so that pricing of the PID Bonds may occur, (y) ifthere is a delay in pricing that is
not caused by Developer or County, then the Developer and County may agree to
extend the 60 day deadline by a reasonable amount of time to address the cause of
the delay so that pricing of the PID Bonds may occur, or (z) if there is a delay
Estates at Eagle Mountain Lake Development Agreement -Page 20
(F) Escrow Deposit Additional Terms. Notwithstanding anything
contained in subparts (B) -(E) above , it is the intent of the Parties that: (i) the
Escrow Deposit shall include the amounts to construct all of the Bond Ranch Road
Improvements related to the adjacent phase being developed by Developer at that
time and which are not going to be paid to the County with the proceeds of PID
Bonds or otherwise by the Developer; (ii) in the event the County is constructing
the Commercial Bonds Ranch Road Improvements , the applicable amounts paid to
the County from the proceeds of PID Bonds or by the Developer, whether in the
form of cash or an Escrow Deposit, shall include the amounts to construct the
Commercial Bonds Ranch Road Improvements at the time Assessments are levied
for the portion of the Bonds Ranch Road Improvements immediately adjacent to
the South Commercial Property ; (iii) the Escrow Deposit or other payments to be
made to the County shall be made by Developer no later than the following: (a) at
least one day prior to the PID Bond closing, so long as the PID Bond pricing is
expected to occur within 60 days after the levy of Assessments , and (b) on or before
60 days after the levy of Assessments , if PID Bond pricing has not occurred within
said 60 day period (subject to the extensions of the deadline as provided in subparts
(B) and (C) above); and (iv) any amounts drawn by the County pursuant to an
Escrow Agreement to pay for the costs of the Bonds Ranch Road Improvements
that benefit the property within the PID may be reimbursed to the Developer from
Assessments levied to pay for the costs of such improvements or the proceeds of
PID Bonds secured by such Assessments as an eligible cost of a Public
Improvement, as authorized by the PID Act. For the avoidance of doubt , any costs
of the Commercial Bond s Ranch Road Improvements that benefit and are allocated
to the South Commercial Property as determined in accordance with the benefits
test are not eligible to be reimbursed with Assessments or the proceeds of PID
Bonds and shall be paid for by the Developer with cash provided to the County or
with the applicable Escrow Deposit. To the extent that a portion of the proceeds of
PID Bonds are to be used to reimburse the County for its costs to construct any
portion of the Bonds Ranch Road Improvements , the proceeds of such PID Bonds
shall be used (w) first to reimburse the County for any funds expended on
completed Bonds Ranch Road Improvements and to pay for the budgeted portion
of the County 's costs of such portion of the Bonds Ranch Road Improvements , as
such costs are set forth in the Service and Assessment Plan, (x) second to pay for
or reimburse the Developer for other budgeted Public Improvements for which the
Assessments were levied to finance , as such costs are set forth in the Service and
Assessment Plan , (y) third to pay for or reimburse the County for any cost overruns
arising from the County 's costs of such portion of the Bonds Ranch Road
Improvements (if and to the extent there are any cost underruns after paying for or
reimbursing the Developer for other budgeted Public Improvements described in
(x) above), and (z) fourth to pay for or reimburse the Developer for any cost
overruns for other Public Improvements for which the Assessments were levied to
finance (if and to the extent there are any cost underruns after paying for or
reimbursing the Developer for other budgeted Public Improvements related to such
phase of the Development and the County for such portion of the Bonds Ranch
Road Improvements).
Estates at Eagle Mountain Lake Development Agreement -Page 23
(G) Escrow Deposit; Separate Acco unt . The County shall create or
cause to be created, a separate account or subaccount for the Escrow Deposit in
order to assist in tracking the costs and expenditures for the Bond Ranch Road
Improvements. The Escrow Deposit may be drawn by the County to pay for the
costs of such Bonds Ranch Road Improvements to the extent that such costs are not
paid to the County with the proceeds of PID Bonds or paid by Developer, as more
particularly provided above and /or in the applicable Escrow Agreement.
( c) Peden Road. The Developer shall design and construct Peden Road
adjacent to the phase of the Project being developed by Developer in accordance with the
City 's Master Thoroughfare Plan (the "Peden Road Improvements"). The Peden Road
Improvements shall consist of the construction of the two adjacent lanes and the future
traffic signal at the intersection of Peden Road and FM 1220, which shall be built in
accordance with the design provided by the County; provided, however , that with respect
to such traffic signal, Developer shall only be responsible for paying its proportionate share
of the costs as determined by the latest TIA acceptance letter. At the time, and only upon
the event of, commercial development by the Commercial Developer of any portion of the
North Commercial Property, such Commercial Developer shall construct the two adjacent
lanes for Peden Road adjacent to the entire North Commercial Property to City Standards ,
and such Commercial Developer shall not be responsible for the construction of any traffic
lights, roadway widening and /or any other improvements in excess of such aforementioned
requirements. Developer shall construct the traffic signal at the intersection of Peden Road
and FM 1220 to City Standards during the construction of Developer's first part of Peden
Road . Nothing contained in the previous sentences shall be construed to absolve the
Commercial Developer from any specific access requirements such as installing tum lanes
for the North Commercial Property. Developer shall be required to complete each portion
of Peden Road prior to acceptance for any phase of the Development immediately adjacent
to such lanes of Peden Road . Where Peden Road is adjacent to gas drilling sites, utility
sites , detention areas , or open space within the Property (collectively , "Passive Land Uses")
or the school site to be dedicated to the ISD (the "School Site"), Developer will be required
to construct the two adjacent lanes for Peden Road adjacent to the Passive Land Use or
School Site , as applicable , with the adjacent construction of Peden Road, to the extent that
construction of such aforementioned improvements for Peden Road has not previously
been constructed by the owner of the Passive Land Use or School Site. Provided, in the
event the Developer is unable to obtain right of way for Peden Road from the owner of the
Passive Land Use, the City or County will have the option to utilize eminent domain
powers as outlined herein. In the event the City or County is unable to acquire from the
owner of the gas pad for the construction of Peden Road , or if the cost of such acquisition
is greater than reasonably acceptab le by the Developer, in Developer's reasonable
discretion, the Parties acknowledge and agree that Developer shall be under no obligation
to construct such portion of Peden Road adjacent to the Passive Land Use. However,
Developer will be required to provide funding to the City equal to the construction cost of
these segments of Peden Road through the execution of a "Future Improvement
Agreement," as set forth in the City 's Community Facilities Agreements Ordinance . The
Developer shall dedicate the right-of-way to the applicable governmental entity for its
portion of Peden Road . Provided , however, that nothing in this Section shall be construed
Estates at Eagle Mountain Lake Development Agreement -Page 24
to prohibit or prevent Developer from including the right-of-way in any PID eligible costs
or otherwise use the value of the right-of-way so dedicated in any PID related transaction.
(d) The roads, right of ways , streets and other such improvements are shown on
Exhibit I attached hereto and incorporated herein by this reference for all purposes.
5.8 Amenity Centers. The Developer agrees to construct an amenity center on the
Property as shown on the Conceptual Plan. Construction of the amenity center shall commence
upon the start of the 100th residential building unit , and such amenity center and related landscape
and exterior playscape shall be completed prior to acceptance of the water infrastructure necessary
to serve the second phase of development of the PID. The amenity center is to be permanently
owned , operated , and maintained by the applicable HOA at no cost to City or the County.
5.9 Parks, Greenspace, Trail System and Sidewalks.
(a) Floodplain. The Developer agrees to preserve the floodplain , excluding
necessary Public Improvements or as is consistent with the Conceptual Plan, as private
greenspace to be owned and maintained by the HOA and /or POA.
(b) Parks. The Developer agrees to design and develop public neighborhood
parks totaling a minimum of IO acres , as depicted on the Conceptual Plan , which may
include floodplain , per the City's Park Dedication Policy in place at the time of the
execution of this Agreement. The City acknowledges that the park locations shown on the
Conceptual Plan satisfy this requirement. One of the parks will be located across the street
from the School Site as shown on the Conceptual Plan and shall be approximately 2 acres.
Both neighborhood parks will include a minimum of three of the following items (which
selection shall be in Developer 's sole discretion): (i) playground , (ii) picnic shelter, (iii)
gazebo , (iv) shade structure , (v) artwork/monument, (vi) soccer goal , (vii) volleyball net,
(viii) walking trail , (i x) landscaping, (x) benches , (xi) trash receptacles , (xii) pet waste
stations , (xiii) fencing , (xiv) irrigation , (xv) a basketball goal , (xvi) a tennis court, (xvii)
pickleball court , or (xviii) other improvements as agreed upon by City. All neighborhood
parks shall become City parks after annexation and the City agrees to maintain the
neighborhood parks after annexation. Prior to annexation , the neighborhood parks shall be
dedicated to the public at the time of platting and maintained by the HOA until annexation.
(c) Park Dedication Fee . The Developer agrees to pay any and all community
park dedication fees to the City at the time of each final plat per the City 's Park Dedication
Policy in place at the time of execution of this Agreement (total value of 12 acres). The
City acknowledges and agrees that development of the Commercial Property does not
require the payment of any park fees. Developer and Commercial Developer shall not be
required to pay any neighborhood park fees or any other park or open space fees, as the
costs to improve the neighborhood parks and construct the trails will satisfy such
requirements.
(d) Walking Trails. The Developer agrees to construct the trail system as
indicated on the Conceptual Plan enabling connections to the proposed school site ,
commercial sites and future public trails per the City's Active Transportation Plan in place
Estates at Eagle Mountain Lake Development Agreement -Page 25
at the time of execution of this Agreement. The Developer shall construct the trail system
in phases by completing the portions of the trail system within the phases of the
development being constructed. As depicted on the Conceptual Plan, the walking trails
shall consist of the 10-foot concrete shared use path along the north side of Bonds Ranch
Road, the trail along FM 1220 , IO-foot concrete shared use path along the south side of
Peden Road , and some trails along the floodplain tying into Peden Road. Notwithstanding
anything contained herein to the contrary, Developer or subsequent owners shall not be
required to construct any sidewalks ( other than the trail system as shown on the Conceptual
Plan) adjacent to any internal residential streets. Developer agrees to use reasonable efforts
to coordinate with adjacent landowners and developers for east/west street and public trail
connectivity as a condition for plat approval. As a condition for plat approval the Developer
shall either : (a) obtain agreement from adjacent property owners to provide east-west street
and public trail connectivity as provided herein, or (b) demonstrate that Developer has
made diligent efforts to coordinate with such property owners to achieve such connectivity ,
and notwithstanding such efforts , is unable to do so. Any pedestrian trail or sidewalk
crossing a ditch will be de signed to pass the one year storm, but trails within or adjacent to
floodplain are not required to be above the flood elevation and may be placed at natural
grade.
5.10 Maintenance Obligations of Certain Public Improvements. The Developer shall
insert provisions into the HOA documents that will require the HOA to maintain the landscaping,
bar ditches, and ancillary improvements located within the right-of-way. Nothing contained in this
section shall mean or imply that any party other than the appropriate governmental entity will own
such right-of-way and improvements .
5 .11 School Site. The Developer agrees to convey to the ISD an approximately 32 acre
site as depicted on the Conceptual Plan . The Developer agrees to cooperate with the ISD to ensure
the School Site location is conveyed to the ISD in accordance with the timeline requested by the
ISD. Provided in the event the ISD notifies Developer or the City that it no longer desires to utilize
the School Site , the Developer shall be permitted to utilize such site as additional residential units ,
and the unit counts reflected in this Agreement shall be increased proportionally with the existing
lot variety at the discretion of Developer. In addition, the Developer shall be permitted to relocate
the location of such School Site so long as the lot counts , as reflected on the Conceptual Plan, do
not vary by greater than 5%.
5.13 Infrastructure Maintenance; Engineer 's Certificate Prior to Annexation. Upon the
completion of the Public Improvements and prior to full purpose annexation , the County shall
maintain in good working order in accordance with accepted standards , all streets and drainage
facilities (with the exception of bar ditches to be maintained by the HOA) to be conveyed or
otherwise dedicated to the City at full purpose annexation. The County or its successors or assigns
shall engage a licensed professional engineer to provide a certificate to the City that all Public
Infrastructure to be conveyed or otherwise dedicated to the City at full purpose annexation , which
shall solely include a certification that streets and drainage facilities , are in good condition and
will not reasonably be expected to require major repairs , major rehabilitation , or full reconstruction
within the five-year period following full purpose annexation.
5.12 Additional Developer Obligations. Developer shall on a phase-by-phase basis
Estates at Eagle Mountain Lake Development Agreement -Page 26
provide a construction cost estimate for streets , drainage , parks , and any other public
improvements , excluding water and sewer improvements, to be maintained by the City at the time
of annexation. Subject to the limits set forth in this Agreement, Developer shall consent that the
total Assessment and O&M Assessment rates exceed the City's property tax rate during the life of
the PID to enable capital replacement fund and future annexation.
ARTICLE VI
EMINENT DOMAIN
6.1 Eminent Domain . The Developer and Path Development agree to use commercially
reasonable efforts to obtain all third-party rights-of-way , consents, or easements, if any, required
for the Public Infrastructure . The City will use its available resources to assist the Developer and
Path Development in acquiring ( or requiring others to dedicate) necessary off-site easements for
Developer and Path Development constructed public infrastructure , except that the City shall not
be obligated to incur any expenses related to such dedications or be required to use eminent domain
or its condemnation powers. Nothing in this Section shall prohibit the City from utilizing its
eminent domain or condemnation powers , or prohibit Developer and Path Development from
causing another governmental entity to use its eminent domain and condemnation powers to
acquire the easements.
ARTICLE VII
[RESERVED)
ARTICLE VIII
[RESERVED)
ARTICLE IX
FULL PURPOSE ANNEXATION
9 .1 The Developer or its successors or assigns shall submit an annexation petition (the
"Annexation Petition") to the City in order for the City to full-purpose annex the Property
(excluding the Commercial Property) into its City limits pursuant to Subchapter C-3 of Chapter
43 of the Texas Local Government Code , to be held in escrow by the County Clerk until the
Annexation Petition Release Condition has been satisfied . The release of the Annexation Petition
from the escrow will occur after full repayment of all Assessments to be levied by the County
related to the PID (the "Annexation Petition Release Condition"). It is the current intent of the City
and the Developer that annexation occurs in such a manner so that the transfer of services from
the County within the O&M PID takes place in the same tax year to the City. Upon the satisfaction
of the Annexation Petition Release Condition and applicable release of the Annexation Petition ,
Developer or its successors or assigns shall take all actions necessary to allow the City to annex
the Property. Developer is not required to enter into this Agreement. The annexation
procedures described in plain language in this Agreement require the Developer's consent.
The Parties acknowledge and agree that this Agreement shall satisfy the written disclosure
requirements under Section 212.172(b-1) of the Texas Local Government Code. The
Developer agrees that the City has complied with Section 43.004 of the Texas Local Government
Code in that the City has provided the written disclosure described by Section 212.172(b-1) of the
Texas Local Government Code. Developer agrees to provide notice to all purchasers of any portion
Estates at Eagle Mountain Lake Development Agreement -Page 27
of the Property of thi s Agreement and the requirement to consent to annexation after the full
repayment of the Assessments.
9.2 Notwithstanding Section 9.1 above , the applicable Commercial Developer shall
submit an annexation petition for the respective portion of the Commercial Property (each a
"Commercial Annexation Petition ") to the City in order for the City to full-purpose annex such
portion of the Commercial Property into its City limits pursuant to Subchapter C-3 of Chapter 43
of the Texas Local Government Code at the time of the Commercial Developer 's plat application
applicable to such portion of the Commercial Property . The applicable Commercial Developer
shall take all action s necessary to allow the City to annex the respective portion of the Commercial
Property as soon as practicable after its plat application for such portion of the Commercial
Property. Commercial Developer is not required to enter into this Agreement. The
annexation procedures described in plain language in this Agreement require the
Commercial Developer's consent. The Parties acknowledge and agree that this Agreement
shall satisfy the written disclosure requirements under Section 212.172(b-1) of the Texas
Local Government Code. The Commercial Developer agrees that the City has complied with
Section 43.004 of the Texas Local Government Code in that the City has provided the written
disclosure described by Section 212.l 72(b-l) of the Texas Local Government Code .
ARTICLEX
DEVELOPMENT
10.1 Design Standards . Subject to the other terms and conditions of this Agreement, the
Developer, Path Development, and the City acknowledge and agree that the Developer and Path
Development will develop the Property and Commercial Property , as applicable , in compliance
with the Design Standards attached hereto as Exhibit D and incorporated herein by this reference
for all purposes.
10.2 Development in Compliance with Conceptual Plan. Development and use of the
Property , including, without limitation, the construction , installation, maintenance , repair , and
replacement of all improvements and facilities of any kind whatsoever on and within the Property ,
shall be in compliance with the Conceptual Plan attached as Exhibit C and applicable City
Regulations , in effect as of the Effective Date , and as amended by this Agreement, if any.
10.3 Vested Rights . This Agreement shall constitute a "permit" under Chapter 245 of
the Texas Local Government Code that is deemed filed with the City on the Effective Date. The
Developer and Path Development do not , by entering into this Agreement, waive any rights or
obligations arising under Chapter 245 of the Texas Local Government Code during the term of
this Agreement. Developer and Path Development acknowledge and agree however, that upon
expiration or termination of this Agreement, all rights under Chapter 245 with regard to the Project
shall terminate.
10.4 Reserved.
10.5 Development of the Property. The Parties agree that the Conceptual Plan attached
hereto as Exhibit C , the Design Standards attached hereto as Exhibit D , and the applicable
provisions of this Agreement memorialize the plan for development of the Property as of the
Effective Date . The City acknowledges and agrees that the Conceptual Plan may vary from the
Estates at Eagle Mountain Lake Development Agreement -Page 28
actual development and such modifications shall not affect the vested rights granted to Developer
and Path Development under this Agreement and shall not require Developer or Path Development
to obtain City approval so long as such modification does not (i) increase the lot count to over
1,182 lots, (ii) provide for any lots which are less than 15,000 square feet in size, or (iii) change
the location of the Commercial Property. In the event the ISD notifies Developer or the City that
it no longer desires to utilize the School Site , the Developer shall be permitted to utilize such site
as additional residential units , and the unit counts reflected in this Agreement shall be increased
proportionally with the existing lot variety at the discretion of Developer.
10.6 Conflicts. In the event of any direct conflict between this Agreement and any other
ordinance, rule , regulation , standard , policy , order , guideline , or other City or County adopted or
City or County enforced requirement, whether existing on the Effective Date or thereafter adopted ,
this Agreement, including its exhibits , as applicable , shall control. In the event of a conflict
between the Agreement and any exhibits to this Agreement the text of the Agreement controls over
the Exhibits. Provided , in the event an Exhibit is deemed amended pursuant to the terms of this
Agreement, the applicable text of the Agreement relating to or outlining such Exhibit shall be
deemed amended as well. In the event of a conflict between the Conceptual Plan and the Design
Standards, the Conceptual Plan shall control to the extent of the conflict. The City and County
waive , relinquish , and release any right the City and County might have under current or future
City or County Regulation or state law to amend the Design Standards attached hereto after the
Effective Date.
10.7 Conceptual Plan. The City 's approval of the Conceptual Plan (which approval is
deemed to be given by execution of thi s Agreement) herein constitutes the acknowledgement that
the Development is consistent with the City 's Comprehensive Plan, as amended.
The Developer or Path Development, as applicable , must submit any proposed material
change to the Conceptual Plan to the City for approval. The Developer or Path Development, as
applicable , shall not be required to submit changes necessary for drainage purposes. The City
Manager of the City may administratively approve any amendments to the Conceptual Plan that
the City Manager deems in his reasonable discretion to be minor in nature. If the City Manager
deems an amendment to not be minor in nature , the Conceptual Plan may be amended by the City
Council.
Any amendment to the Conceptual Plan shall be considered an amendment to this
Agreement and shall replace the attached Conceptual Plan and become part of this Agreement.
Developer and Path Development, as applicable , are responsible for providing City updated copies
of any modified or amended Conceptual Plan, which the City shall approve. Any subsequent
development application for approval of a final plat, that differs from the terms of this Agreement,
shall automatically amend this Agreement. The County agrees with the City to review subdivision
plats , public streets and drainage plans for the Property.
ARTICLE XI
DEVELOPMENT PROCESS AND CHARGES
11. 1 Fees. The Developer and , with regard to any Commercial Developer Obligations
(as defined herein), the applicable Commercial Developer agree to construct or cause to be
constructed the water, wastewater/sanitary sewer, and roadway improvements as outlined in this
Estates at Eagle Mountain Lake Development Agreement -Page 29
Agreement. In consideration of such obligations , the City agrees that Developer and applicable
Commercial Developer shall be entitled to full-dollar , like-kind credit towards impact fees that
would be collected for property within the City 's extraterritorial jurisdiction ("ETJ"), if any ( e .g .,
water improvement costs may only be offset by water impact fees and not by wastewater impact
fees or roadway impact fees), for any water , sewer, and road capital improvement plan
improvements made , con structed , caused to be constructed, or financed by Developer and /or
Commercial Developer .
11.2 Building Inspections and Inspection Fees . Development of the Property shall not
be subject to the payment to the City of standard building inspection fees as amended and
uniformly adopted throughout the City, according to the then-current fee schedule adopted by the
City Council. Notwithstanding , Development of the Property will be subject to inspection fees
associated with the water and sewer improvements that would apply to any other property situated
in the ETJ of the City.
11.3 Park Fees, Tree Mitigation Fees, Open Space Fees, Conservation Fees or Similar
Fees Waived.
(a) Developer and , with regard to any Commercial Developer Obligations on
the Commercial Property , the applicable Commercial Developer agree to construct such
landscaped and /or open space amenities , as shown on the Conceptual Plan attached hereto as
Exhibit C. Developer shall pay the applicable community park dedication fee (total value of 12
acres), provided , the Parties acknowledge and agree that it is anticipated that Developer will not
be required to pay any neighborhood park fees as the costs to improve parks within the
Development is anticipated to cover such amounts. The City acknowledges and agrees that
development of the Commercial Property does not require the payment of any park fees. The City
shall not require additional dedications ofland within the Property for the purpose of any parkland
dedication requirements in place on the Effective Date or any date thereafter. In addition to items
that the City Regulations give credit in lieu of park land dedication , for purposes of this
Agreement, no parkland , open space , or similar fees shall be owed on the Property provided that
it is developed in accordance with this Agreement.
(b) The City agrees that the City will impose no tree mitigation and /or tree
preservation requirements or fees or other conservation requirements or fees or any other similar
type of fee imposed upon the Developer or and Commercial Developer in connection with the
Property .
11.4 DEVELOPER AND PATH DEVELOPMENT'S ACKNOWLEDGEMENT
OF THE CITY'S COMPLIANCE WITH FEDERAL AND STATE CONSTITUTIONS,
STATUTES AND CASE LAW AND FEDERAL, STATE AND LOCAL ORDINANCES,
RULES AND REGULATIONS/ DEVELOPERS' WAIVER AND RELEASE OF CLAIMS
FOR OBLIGATIONS IMPOSED BY THIS AGREEMENT.
(A) DEVELOPER AND PATH DEVELOPMENT ACKNOWLEDGE AND
AGREE THAT:
(I) THE CONVEYANCES, DEDICATIONS AND/OR EASEMENTS
REQUIRED BY THIS AGREEMENT AND/OR THE PUBLIC IMPROVEMENTS
Estates at Eagle Mountain Lake Development Agreement -Page 30
AND/OR THE PUBLIC INFRASTRUCTURE TO BE CONSTRUCTED UNDER
THIS AGREEMENT, AND THE PAYMENT OF MONEY REQUIRED BY THIS
AGREEMENT, REGARDING THE PROPERTY, IN WHOLE OR IN PART, DO
NOT CONSTITUTE A:
(a) TAKING UNDER THE TEXAS OR UNITED STATES
CONSTITUTION;
(b) VIOLATION OF THE TEXAS LOCAL GOVERNMENT
CODE, AS IT EXISTS OR MAY BE AMENDED; AND/OR
(c) VIOLATION OF THE TEXAS WATER CODE, AS IT EXISTS
OR MAY BE AMENDED;
(d) NUISANCE; OR
(e) CLAIM FOR DAMAGES OR REIMBURSEMENT AGAINST
CITY FOR A VIOLATION OF ANY FEDERAL OR STATE
CONSTITUTION, STATUTE OR CASE LAW OR ANY
FEDERAL, STATE OR LOCAL ORDINANCE, RULE OR
REGULATION.
(II) THE AMOUNT OF THE DEVELOPER AND PATH
DEVELOPMENT 'S FINANCIAL AND INFRASTRUCTURE CONTRIBUTION
OR CONVEYANCE OF REAL PROPERTY OR INTERESTS THEREIN AGREED
TO IN THIS AGREEMENT IS ROUGHLY PROPORTIONAL TO THE DEMAND
THAT THE DEVELOPER AND PATH DEVELOPMENT'S ANTICIPATED
IMPROVEMENTS AND DEVELOPER AND PATH DEVELOPMENT'S
DEVELOPMENT PLACES ON THE CITY'S INFRASTRUCTURE.
(III) DEVELOPER AND PATH DEVELOPMENT HEREBY AGREE
AND ACKNOWLEDGE, WITHOUT WAIVING CLAIMS RELATED SOLELY
TO EXACTIONS NOT CONTEMPLATED BY THIS AGREEMENT, THAT: (A)
ANY PROPERTY WHICH IT CONVEYS TO THE CITY OR ACQUIRES FOR
THE CITY PURSUANT TO THIS AGREEMENT IS ROUGHLY
PROPORTIONAL TO THE BENEFIT RECEIVED BY THE DEVELOPER AND
PATH DEVELOPMENT FOR SUCH LAND, AND THE DEVELOPER AND PATH
DEVELOPMENT HEREBY WAIVE ANY CLAIM THEREFOR THAT IT MAY
HAVE; AND (B) ALL PREREQUISITES TO SUCH DETERMINATION OF
ROUGH PROPORTIONALITY HAVE BEEN MET, AND ANY VALUE
RECEIVED BY THE CITY RELATIVE TO SAID CONVEYANCE IS RELATED
BOTH IN NATURE AND EXTENT TO THE IMP ACT OF THE DEVELOPMENT
OF THE PROPERTY ON THE CITY'S INFRASTRUCTURE. THE DEVELOPER
AND PATH DEVELOPMENT FURTHER AGREE TO WAIVE AND RELEASE
ALL CLAIMS IT MAY HA VE AGAINST THE CITY OR COUNTY UNDER THIS
AGREEMENT RELATED TO ANY AND ALL: (A) CLAIMS OR CAUSES OF
ACTION BASED ON ILLEGAL OR EXCESSIVE EXACTIONS; AND (B) ROUGH
PROPORTIONALITY AND INDIVIDUAL DETERMINATION
REQUIREMENTS MANDATED BY THE UNITED STATES SUPREME COURT
Estates at Eagle Mountain Lake Development Agreement -Page 31
IN DOLAN V. CITY OF TIGARD, 512 U.S. 374 (1994), AND ITS PROGENY, AS
WELL AS ANY OTHER REQUIREMENTS OF A NEXUS BETWEEN
DEVELOPMENT CONDITIONS AND THE PROJECTED IMP ACT OF THE
PUBLIC IMPROVEMENTS AND/OR THE PUBLIC INFRASTRUCTURE.
(IV) THE DEVELOPER AND PATH DEVELOPMENT HEREBY
RELEASE CITY AND COUNTY FROM ANY OBLIGATION TO PERFORM OR
COMMISSION A TAKINGS IMPACT ASSESSMENT UNDER CHAPTER 2007
OF THE TEXAS GOVERNMENT CODE, AS IT EXISTS OR MAY BE AMENDED.
(V) THE DEVELOPER AND PATH DEVELOPMENT SHALL DEFEND,
INDEMNIFY AND HOLD HARMLESS CITY AND COUNTY FROM AND
AGAINST ANY CLAIMS AND SUITS OF THIRD PARTIES, INCLUDING BUT
NOT LIMITED TO, A DEVELOPER AND PATH DEVELOPMENT'S
PARTNERS, OFFICERS, DIRECTORS, EMPLOYEES, REPRESENTATIVES,
AGENTS, SUCCESSORS, ASSIGNEES, VENDORS, GRANTEES OR TRUSTEES,
BROUGHT PURSUANT TO THIS SECTION.
(B) THE DEVELOPER AND PATH DEVELOPMENT RELEASE CITY AND
COUNTY FROM ANY AND ALL CLAIMS OR CAUSES OF ACTION BASED ON
EXCESSIVE OR ILLEGAL EXACTIONS.
(C) THE DEVELOPER AND PATH DEVELOPMENT WAIVE ANY CLAIM
FOR DAMAGES OR REIMBURSEMENT AGAINST CITY AND COUNTY FOR A
VIOLATION OF ANY FEDERAL OR STATE CONSTITUTION, STATUTE OR CASE
LAW OR ANY FEDERAL, STATE OR LOCAL ORDINANCE, RULE OR
REGULATION.
(D) AS ADDITIONAL CONSIDERATION FOR THE BENEFITS THE
DEVELOPER AND PATH DEVELOPMENT ARE RECEIVING UNDER THIS
AGREEMENT, THE DEVELOPER AND PATH DEVELOPMENT HEREBY RELEASE
THE CITY FROM AND AGAINST, AND WAIVES, ANY ALL RIGHTS TO OR CLAIM
FOR ANY RELIEF UNDER CHAPTER 2206 OF THE TEXAS GOVERNMENT CODE,
AS AMENDED, AND/OR CHAPTER 21 OF THE TEXAS PROPERTY CODE, AS
AMENDED, ARISING OUT OF ANY ACTS OR OMISSIONS UNDER TIDS
AGREEMENT.
(E) THIS SECTION 11.4 SHALL SURVIVE THE TERMINATION OF TIDS
AGREEMENT.
11.5 Temporary Street Closures. To the extent reasonably requested by the Developer
and Path Development in connection with the construction of the Public Infrastructure , and to the
extent permitted by local , state and federal regulations , the City or County shall grant and issue to
the Developer and Path Development all necessary permits to authorize temporary closures of, and
shall grant and issue to the Developer and Path Development all necessary permits to make cuts
or other perforations in , demolish and excavate all or portions of any street, alley or other public
right-of-way that is under reasonable control of the City or County and that is contained in whole
or in part within the Property or that abuts any portion of the Property ; provided however, all such
Estates at Eagle Mountain Lake Development Agreement -Page 32
actions are subject to the City's or County's obligations to preserve and protect public health ,
safety, and welfare.
11.6 Joint Cooperation. During the planning, design , development and construction of
the private improvements and the Public Infrastructure on the Property , the Parties agree to
cooperate and coordinate with each other, and to assign appropriate , qualified personnel to this
Development. The City will make reasonable efforts to accommodate urgent or emergency
requests during construction. In order to facilitate a timely review process , the Developer and Path
Development, shall cause the architect , engineer and other design professionals to attend City
meetings if requested by the City.
ARTICLE XII
TERM
The term of this Agreement shall be for a period of thirty (30) years after the Effective
Date, or the date on which this Agreement dissolves or terminates , whichever comes first (the
"Initial Term "). Prior to expiration of the Initial Term, the Parties may , upon written mutual
agreement , extend the Initial Term one time thereafter for a period up to fifteen (15) years.
ARTICLE XIII
EVENTS OF DEFAULT; REMEDIES
13.1 Events of Default. No Party shall be in default under this Agreement until Notice
of the alleged failure of such Party to perform has been given in writing (which Notice shall set
forth in reasonable detail the nature of the alleged failure) and until such Party has been given a
reasonable time to cure the alleged failure (such reasonable time to be determined based on the
nature of the alleged failure , but in no event more than thirty (30) days ( or any longer time period
to the extent expressly stated in this Agreement as relates to a specific failure to perform) after
written Notice of the alleged failure has been given except as relates to a type of default for which
a different time period is expressly set forth in this Agreement). Notwithstanding the foregoing ,
no Party shall be in default under thi s Agreement if, within the applicable cure period , the Party to
whom the Notice was given begins performance and thereafter diligently and continuously pursues
performance until the alleged failure has been cured. Notwithstanding the foregoing , however, a
Party shall be in default of its obligation to make any payment required under this Agreement if
such payment is not made within forty-five (45) days after it is due. The Parties acknowledge and
agree that the respective Commercial Developer shall only be responsible for the obligations
specifically identified as obligations of such Commercial Developer (the "Commercial Developer
Obligations"). Accordingly , the applicable Commercial Developer shall only be in default under
this Agreement upon the failure to perform a respective Commercial Developer Obligation, and
the exhaustion of any Notice and cure periods as outlined in this Section 13 .1. Developer shall not
be responsible for any Commercial Developer Obligation , except to the extent that the Developer
is a Commercial Developer, and shall not be considered in default for any other Commercial
Developer's failure to perform such Commercial Developer Obligations.
13.2 Remedies. As compensation for the other party's default , an aggrieved Party is
limited to seeking specific performance, or other equitable relief available at law , of the other
party's obligations under this Agreement. NOTWITHSTANDING THE FOREGOING ,
Estates at Eagle Mountain Lake Development Agreement -Page 33
HOWEVER, NO DEFAULT UNDER THIS AGREEMENT SHALL ENTITLE THE
AGGRIEVED PARTY TO TERMINATE THIS AGREEMENT AND PREVENT THE
DEVELOPER OR THE CITY FROM RECEIVING ANY REIMBURSEMENTS OR
PAYMENTS DUE AND OWED TO THE DEVELOPER OR THE CITY UNDER THIS
AGREEMENT, ANY ECONOMIC DEVELOPMENT AGREEMENT , OR ANY
REIMBURSEMENT AGREEMENT .
ARTICLE XIV
ASSIGNMENT AND ENCUMBRANCE
14.1 Assignment. This Agreement shall be binding upon and inure to the benefit of the
successors and assigns of the Parties. No assignment by Developer or Path Development shall
release the Developer or Path Development from any liability that resulted from an act or omission
by the Developer or Path Development that occurred prior to the effective date of the assignment
unless the City and County approve the release in writing. The Developer and Path Development
have the right (from time to time without the consent of the City and County , but upon written
Notice to the City and County) to assign thi s Agreement, in whole or in part, and including any
obligation, right , title , or interest of the Developer or Path Development under this Agreement, to
any person or entity (an "Developer Assignee ") that (i) is or will become an owner of any portion
of the Property or (ii) is controlled by or under common control by the Developer or Path
Development and becomes an owner of any portion of the Property , provided that the Developer
or Path Development, as applicable, are not in default of this Agreement at the time of such
assignment. Any receivables due under this Agreement, or under any Reimbursement Agreement
may be assigned by the Developer or Path Development without the consent of, but upon written
Notice to the City and the County. No such assignment shall be made without the prior written
consent of the City and County if such conveyance , transfer , assignment , mortgage , pledge , or
other encumbrance would result in (1) the issuance of municipal securities , (2) the City or the
County being viewed as an "obligated person" within the meaning of Rule 15c2-12 of the United
States Securities and Exchange Commission, and /or (3) the City or the County being subjected to
additional reporting or recordkeeping dutie s. A Developer Assignee is considered the "Developer"
or "Commercial Developer", as applicable, and a "Party," under this Agreement for purposes of
the obligations, rights , title , and interest assigned to the Developer Assignee. Notice of each
proposed assignment to a Developer Assignee shall be provided to the City and County at least
fifteen (15) days after the effective date of the assignment, which Notice shall include a copy of
the assignment document together with the name , address , telephone number, and e-mail address
(if available) of a contact person representing the Developer Assignee .
14.2 Assignment by the City or County. Neither the City nor the County shall assign
this Agreement , in whole or in part, and including any obligation , right, title , or interest of the City
or County , respectively , under this Agreement, without the prior written approval of the Developer
or Path Development, as applicable; provided however, that this Section does not apply to any real
property interest which the City or County , as applicable , may have within the Development or
Property.
14.3 Encumbrance by Developer, Path Development and Developer Assignees. The
Developer, or Path Development, and Developer Assignees have the right, from time to time , to
collaterally assign , pledge , grant a lien or security interest in , or otherwise encumber any of their
Estates at Eagle Mountain Lake Development Agreement -Page 34
respective rights, title , or interest under this Agreement for the benefit of (a) their respective
lenders , and /or (b) to any person or entity without the consent of, but with prompt written Notice
to , the City and the County. The collateral assignment , pledge, grant of lien or security interest, or
other encumbrance shall not, however , obligate any lender to perform any obligations or incur any
liability under this Agreement unless the lender agrees in writing to perform such obligations or
incur such liability. Provided the City and County has been given a copy of the documents creating
the lender's interest , including notice information for the lender, then that lender shall have the
right , but not the obligation, to cure any default under this Agreement and shall be given a
reasonable time, but no more than 180 days, to do so in addition to the cure periods otherwise
provided to the defaulting Party by this Agreement; and the City and County agree to accept a cure
offered by the lender as if offered by the defaulting Party. A lender is not a Party to this Agreement
unless this Agreement is amended , with the consent of the lender, to add the lender as a Party.
Notwithstanding the foregoing , however , this Agreement shall continue to bind the Property and
shall survive any transfer, conveyance , or assignment occasioned by the exercise of foreclosure or
other rights by a lender, whether judicial or non-judicial. Any purchaser from or successor
Developer or Commercial Developer through a lender of any portion of the Property shall be bound
by this Agreement and shall not be entitled to the rights and benefits of this Agreement with respect
to the acquired portion of the Property until all defaults under this Agreement with respect to the
acquired portion of the Property have been cured. Notwithstanding the foregoing or Section 14 .1
above, any lender ( or its affiliate) that acquires fee simple title to any portion of the Property
pursuant to the exercise of foreclosure or other rights by the lender (whether judicial or non-
judicial) or by deed-in-lieu thereof, shall have the right (from time to time) to assign this
Agreement with respect to any portion of the Property to an affiliate or related entity, or to a non-
affiliate , non-related entity , in whole or in part, and including any obligation, right, title, or interest
of the Developer and Path Development under this Agreement with respect to such portion of the
Property, without City and County consent, but with prompt written notice to the City and County.
No such conveyance, transfer, assignment, mortgage , pledge or other encumbrance shall be made
without the prior written consent of the City and County if such conveyance, transfer, assignment ,
mortgage , pledge , or other encumbrance would result in (1) the issuance of municipal securities ,
(2) the City or County being viewed as an "obligated person" within the meaning of Rule 15c2-12
of the United States Securities and Exchange Commission, and /or (3) the City or County being
subjected to additional reporting or recordkeeping duties.
14.4 Encumbrance by City or County. Neither the City nor the County shall collaterally
assign , pledge, grant a lien or security interest in, or otherwise encumber any of its rights, title , or
interest under this Agreement without the prior written consent of the Developer or Path
Development, as applicable; provided however, that this section shall not apply to any real
property interests which the City or the County, as applicable , may have in the Development or
the Property.
14.5 Assignees as Parties. Subject to Section 14.3 above, a Developer Assignee
authorized in accordance with this Agreement and for which Notice of assignment has been
provided in accordance with this Agreement shall be considered a "Party" for the purposes of this
Agreement. Subject to Section 14.3 above, any person or entity upon becoming an owner of land
or upon obtaining an ownership interest (but not including End Buyer) in any part of the Property
shall have all of the obligations of the Developer, or Path Development, as applicable, as set forth
in this Agreement and all related documents to the extent of said ownership or ownership interest.
Estates at Eagle Mountain Lake Development Agreement-Page 35
From and after such assignment, the City and County agree to look solely to the Developer
Assignee for the performance of all obligations assigned to the Developer Assignee and agrees
that Developer or Path Development, as applicable , shall be released from subsequently
performing the assigned obligations and from any liability that results from the Developer
Assignee 's failure to perform the assigned obligations.
14 .6 No Third-Party Beneficiaries . Subject to Section 14.1 and Section 14 .3 of this
Agreement, this Agreement only inures to the benefit of, and may only be enforced by, the Parties.
No other person or entity shall have any right , title , or interest under this Agreement or otherwise
be deemed to be a third -party beneficiary of this Agreement.
14.7 Notice of Assignment. Subject to Section 14 .1 and Section 14 .3 of this Agreement,
the following requirements shall apply in the event that a Developer, or Path Development, as
applicable, sells, assigns, transfers, or otherwise conveys the Property or any part thereof and /or
any of its rights or benefits under this Agreement:
(a) within 7 days after the effective date of any such sale , assignment, transfer , or other
conveyance , the Developer, or Path Development, as applicable , must provide written Notice of
same to the City and County ;
(b) the Notice must describe the extent to which any rights or benefits under this
Agreement have been sold , assigned, transferred, or otherwise conveyed ;
(c) the Notice must state the name, mailing address , and telephone contact information
of the person(s) acquiring any rights or benefits as a result of any such sale , assignment, transfer ,
or other conveyance ; and
(d) the Notice must be signed by a duly authorized person representing the Developer
or Path Development, as applicable .
ARTICLE XV
RECORDATION AND ESTOPPEL CERTIFICATES
15.1 Binding Obligations. This Agreement and all amendments hereto and assignments
hereof shall be recorded in the deed records of the County. This Agreement binds and constitutes
a covenant running with the Property . U pon the Effective Date, this Agreement shall be binding
upon the Parties and their successors and assigns permitted by this Agreement and forms a part of
any other requirements for development within the Property . This Agreement, when recorded ,
shall be binding upon the Parties and their successors and assigns as permitted by this Agreement
and upon the Property ; however, this Agreement shall not be binding upon , and shall not constitute
any encumbrance to title as to, any End-Buyer of a Fully Developed and Improved Lot except for
the requirement not to initially remove the Property from the City's ETJ, the requirement to annex
the Property and for the land use and development regulations , including the City Regulations, that
apply to such lots.
15 .2 Estoppel Certificates. From time to time upon written request of the Developer,
Path Development, or any future Developer or Commercial Developer, but no more frequently
than four (4) per calendar year, and upon the payment in advance of a $250.00 fee to the City , the
Estates at Eagle Mountain Lake Development Agreement -Page 36
City Manager, or his/her designee will , in his official capacity and to his reasonable knowledge
and belief, execute a written estoppel certificate identifying any obligations of a Developer or
Commercial Developer under this Agreement that are in default.
ARTICLE XVI
ADDITIONAL PROVISIONS
16 .1 Recitals. The recitals contained in this Agreement: (a) are true and correct as of the
Effective Date; (b) form the basis upon which the Parties negotiated and entered into this
Agreement ; (c) are legislative findings of the City Council of the City and the County
Commissioners Court; and (d) reflect the final intent of the Parties with regard to the subject matter
of this Agreement. In the event it becomes necessary to interpret any provision of this Agreement,
the intent of the Parties , as evidenced by the recitals , shall be taken into consideration and , to the
maximum extent possible, given full effect. The Parties have relied upon the recitals as part of the
consideration for entering into this Agreement and, but for the intent of the Parties reflected by the
recitals , would not have entered into this Agreement.
16 .2 Notices. Any Notice , submittal, payment or instrument required or permitted by
this Agreement to be given or delivered to any party shall be deemed to have been received when
personally delivered or 72 hours following deposit of the same in any United States Post Office,
registered or certified mail , postage prepaid, addressed as follows:
To the City:
With a copy to:
To the County:
To the Developer:
City Manager 's Office
City of Fort Worth
100 Fort Worth Trail
Fort Worth , Texas 76102
City Attorney's Office
100 Fort Worth Trail
Fort Worth , Texas 76102
Attn: Maegan South
Tarrant County , Texas
100 E. Weatherford Street, Suite 404
Fort Worth, Texas 76196
Attn: Jack Dawson
MM Bonds 836, LLC
1800 Valley View Lane , Suite 300
Farmers Branch Texas 75234
Estates at Eagle Mountain Lake Development Agreement -Page 37
With a copy to: Attn: Trav is Boghetich
Texas Real Estate Law
1800 Valley View Lane , Suite 360
Farmers Branch , Texas 75234
To Path Development: Attn: Jeffrey David
With a copy to :
Beaten Path Development-MD Commercial , LLC
700 W . Harwood Rd ., Suite G2
Hurst, Texas 76054
jdavid@ochtx .com
Attn: Staci Pirnar
Beaten Path Development-MD Commercial , LLC
700 W . Harwood Rd ., Suite A
Hurst , Texas 76054
spirnar@ochtx.com
Any party may change its address or addresses for delivery of Notice by delivering written
Notice of such change of address to the other party.
16.3 Interpretation. The Parties acknowledge that each has been actively involved in
negotiating this Agreement. Accordingly , the rule of construction that any ambiguities are to be
resolved against the drafting Party will not apply to interpreting this Agreement. In the event of
any dispute over the meaning or application of any provision of this Agreement, the provision will
be interpreted fairly and reasonably and neither more strongly for nor against any Party, regardless
of which Party originally drafted the provision.
16.4 Time. In this Agreement, time is of the essence and compliance with the times for
performance herein is required .
16.5 Entire Agreement. This Agreement embodies the entire Agreement between the
Parties and cannot be varied or terminated except as set forth in this Agreement , or by written
agreement of the City , County and the Developer (and to the extent such amendment affects the
Commercial Property , the respective Commercial Developer) expressly amending the terms of this
Agreement.
16.6 Severability . If any provision of this Agreement is determined by a court of
competent jurisdiction to be unenforceable for any reason , then : (a) such unenforceable provision
shall be deleted from this Agreement ; (b) the unenforceable provision shall , to the extent possible
and upon mutual agreement of the parties , be rewritten to be enforceable and to give effect to the
intent of the Parties; and (c) the remainder of this Agreement shall remain in full force and effect
and shall be interpreted to give effect to the intent of the Parties.
16.7 Applicable Law; Venue. This Agreement is entered into pursuant to and is to be
construed and enforced in accordance with , the laws of the State of Texas , and all obligations of
the Parties are performable in the County. Exclusive venue for any action to enforce or construe
this Agreement shall be in the Tarrant County District Court or the applicable federal court.
Estates at Eagle Mountain Lake Development Agreement -Page 3 8
16.8 Non-Waiv er. Any failure by a Party to insist upon strict performance by the other
Party of any material provision of this Agreement shall not be deemed a waiver thereof, and the
Party shall have the right at any time thereafter to insist upon strict performance of any and all
provisions of this Agreement. No provision of this Agreement may be waived except by writing
signed by the Party waiving such provision. Any waiver shall be limited to the specific purposes
for which it is given. No waiver by any Party of an y term or condition of this Agreement shall be
deemed or construed to be a waiver of any other term or condition or subsequent waiver of the
same term or condition.
16.9 Counterparts. This Agreement may be executed in any number of counterparts ,
each of which shall be deemed an original and constitute one and the same instrument.
16.10 Authority and Enforceability. The City and County represent and warrant that this
Agreement has been approved by official action by the City Council of the City and the County
Commissioners Court, respectively , in accordance with all applicable public notice requirements
(including, but not limited to , notice s required by the Texas Open Meetings Act) and that the
individuals executing this Agreement on behalf of the City and County have been duly authorized
to do so. The Developer and Path Development represent and warrant that this Agreement has
been approved by appropriate action of the Developer and Path Development, as applicable, and
that the individual executing this Agreement on behalf of the Developer and Path Development
has been duly authorized to do so. Each Party respectively acknowledges and agrees that this
Agreement is binding upon such Party and is enforceable against such Party , in accordance with
its terms and conditions and to the extent provided by law.
16.11 Further Documents; Legislative Discretion. The Parties agree that at any time after
execution of this Agreement, they will , upon request of another Party , execute and deliver such
further documents and do such further acts and things as the other Party may reasonably request
in order to effectuate the terms of this Agreement. Nothing herein shall be construed as limiting
or otherwise hindering the legislative discretion of the City Council or the County Commissioners
Court seated at the time that this Agreement is executed or any future City Council or County
Commissioners Court.
16.12 Exhibits. The following Exhibits are attached to this Agreement and are
incorporated herein for all purposes:
Exhibit A
Exhibit A-1
Exhibit B
Exhibit C
Exhibit D
Exhibit E-1
Exhibit E-2
Exhibit F-1
Exhibit F-2
Exhibit G
Exhibit H
Exhibit I
Mete s and Bounds Description and Depiction of the Property
Metes and Bounds Description and Depiction of the Commercial Property
Opinion of Probable Cost
Conceptual Plan
Design Standards
24" Northside 3 Regional Water Improvement Depiction
Northside 4 Regional Water Improvement Depiction
Phase 1 Sewer Improvements Depiction
Lift Station B & Force Main Improvement Depiction
Rio Clara Property Depiction
Location of Lift Station B
Roadway Improvements Depiction
Estates at Eagle Mountain Lake Development Agreement -Page 39
16.13 Home Buyer Disclosures. The Developer shall comply with the requirements
related to the notice of assessments in the Home Buyer Disclosure Program (herein so called) and
in Texas Property Code Section 5.014 , and shall record this Agreement in the real property records
of the County , which notifies future developers of Property and/or homebuilders of the obligations
set forth in the Home Buyer Disclo sure Program.
16.14 Governmental Powers; Waivers oflmmunity. By its execution of this Agreement,
the City and County do not waive or surrender any of their respective governmental powers ,
immunities , or rights except as provided in this section. The Parties acknowledge that the City
and County waives their sovereign immunity as to suit solely for the purpose of adjudicating a
claim under this Agreement.
16.15 Force Majeure. Each Party shall use good faith , due diligence and reasonable care
in the performance of its respective obligations under this Agreement, and time shall be of the
essence in such performance; however, in the event a Party is unable, due to Force Majeure , to
perform its obligations under this Agreement, then the obligations affected by the Force Majeure
shall be temporarily suspended ; provided , however, the Party claiming delay of performance as a
result of any Force Majeure shall deliver written notice of the commencement of any such delay
resulting from such Force Majeure and a description of the action that will be taken to remedy the
Force Majeure not later than fifteen (15) days after the claiming Party becomes aware of the same ,
and if the claiming Party fails to so notify the other Party(ies), the claiming Party shall not be
entitled to avail itself of the provisions for the extension of performance as a result of such Force
Majeure. The claiming Party shall resume full performance at the earliest possible time after the
Force Majeure concludes.
16.16 Amendments. This Agreement cannot be modified , amended , or otherwise varied ,
except in writing signed by the City , County , and the Developer (and to the extent such amendment
affects the Commercial Property , the respective Commercial Developer) expressly amending the
terms of this Agreement.
16.17 Consideration. This Agreement is executed by the Parties hereto without coercion
or duress and for substantial consideration , the sufficiency of which is hereby acknowledged .
16.18 Relationship of Parties. Nothing contained in this Agreement shall be deemed or
construed by the Parties hereto or by any third party to create the relationship of principal and
agent, or of partnership, joint venture or any association whatsoever between any one or more of
the Parties , it being expressly understood and agreed that no provision contained in this Agreement
nor any act or acts of the Parties hereto shall be deemed to create any relationship between the
Parties other than the relationship of independent parties contracting with each other solely for the
purpose of effecting the provisions of this Agreement.
16.19 Caption s . The descriptive captions of this Agreement are for convenience of
reference only and shall in no way define , describe , limit, expand or affect the scope , terms ,
conditions , or intent of this Agreement.
Estates at Eagle Mountain Lake Development Agreement -Page 40
16.20 Number and Gender. Whenever used her ein , unless the context otherwise provides ,
the singular number shall include the plural , the plural the singular, and the use of any gender shall
include all other genders.
16 .21 Gift to Public Servant. The Developer and Path Development shall not , and shall
use commercially reasonable efforts to cause their contractors and agents to not, offer, or agree to
confer any benefit upon a City employee or official that the City employee or official is prohibited
by law from accepting. For purposes of this section , "benefit" means anything reasonably regarded
as pecuniary gain or pecuniary advantage , including benefit to any other person in whose welfare
the beneficiary has a direct or substantial interest, but does not include a contribution or
expenditure made and reported in accordance with law . Notwithstanding any other legal remedies ,
the City may require the Developer and Path Development to remove any employee or contractor
of the Developer and Path Development from performance responsibilities under this Agreement
who has violated the restrictions of this section or any similar state or federal law .
16.22 Statutory Verifications: The Developer and Path Development make the following
representation and verifications pursuant to Chapters 2252, 2271 , 2274 , and 2276, Texas
Government Code , as heretofore amended (the "Government Code"), in entering into this
Agreement. As used in such verifications , "affiliate " means an entity that controls , is controlled
by , or is under common control with the Developer or Path Development, as applicable , within the
meaning of SEC Rule 405, 17 C .F .R . § 230.405 , and exists to make a profit. Liability for breach
of any such verification prior to the expiration or earlier termination of this Agreement shall
survive until barred by the applicable statute oflimitations, and shall not be liquidated or otherwise
limited by any provision of this Agreement, notwithstanding anything in this Agreement to the
contrary.
(a) Not a Sanctioned Company. The Developer and Path Development represent that
neither it nor any of its parent company, wholly -or majority -owned subsidiaries , and other
affiliates is a company identified on a list prepared and maintained by the Texas Comptroller of
Public Accounts under Section 2252.153 or Section 2270 .0201 , Government Code . The foregoing
representation excludes the Developer and Path Development and each of its parent company ,
wholly -or majority -owned subsidiaries , and other affiliates , if any, that the United States
government has affirmatively declared to be excluded from its federal sanctions regime relating to
Sudan or Iran or any federal sanctions regime relating to a foreign terrorist organization.
(b) No Boycott of Israel. The Developer and Path Development hereby verify that it
and its parent companies , wholly-or majority-owned subsidiaries , and other affiliates , if any , do
not boycott Israel and will not boycott Israel during the term of this Agreement. As used in the
foregoing verification, "boycott Israel" has the meaning provided in Section 2271.001 ,
Government Code .
(c) No Discrimination Against Firearm Entities. The Developer and Path
Development hereby verify that it and its parent company , wholly -or majority-owned subsidiaries ,
and other affiliates , if any , do not have a practice , policy , guidance , or directive that discriminates
against a firearm entity or firearm trade association and will not discriminate against a firearm
entity or firearm trade association during the term of this Agreement. As used in the foregoing
Estates at Eagle Mountain Lake Development Agreement -Page 41
verification , "discriminate against a firearm entity or firearm trade association " has the meaning
provided in Section 2274 .001(3), Government Code.
(d) No Boycott of Energy Companies . The Developer and Path Development hereby
verify that it and its parent company, wholly-or majority-owned subsidiaries, and other affiliates,
if any , do not boycott energy companies and will not boycott energy companies during the term of
this Agreement. As used in the foregoing verification, "boycott energy companies" has the
meaning provided in Section 2276.001(1), Government Code.
16.23 Form 1295. Submitted herewith are completed Form 1295s in connection with the
Developer and Path Development 's participation in the execution of this Agreement generated by
the Texas Ethics Commission 's (the "TEC ") electronic filing application in accordance with the
provisions of Section 2252.908 of the Texas Government Code and the rules promulgated by the
TEC (the "Form 1295 "). The City and County hereby confirm receipt of the Form 1295s from the
Developer and Commercial Developer, and the City and County agree to acknowledge such forms
with the TEC through its electronic filing application not later than the 30th day after the receipt
of such form. The Developer, Path Development, the County and the City understand and agree
that, with the exception of information identifying the City or County and the contract
identification number, neither the City , County , nor their respective consultants are responsible for
the information contained in the applicable Form 1295; that the information contained in the Form
1295s has been provided solely by the Developer and Path Development, as applicable ; and ,
neither the City, County , nor their respective consultants have verified such information .
16.24 Verification Regarding Undocumented Workers. In accordance with Chapter 2264
of the Texas Government Code , the Developer and Path Development represent and certify that
they do not and will not knowingly employ any undocumented worker on the Property who is not
lawfully admitted for permanent residence to the United States or authorized under law to be
employed in the United States. If, after receiving any public subsidy from the City or County
under this Agreement, a Developer or Commercial Developer, as applicable, is convicted of a
violation under 8 U.S.C. § 1324a(f), the Developer or Commercial Developer, as applicable , shall
repay to the City or County , as applicable , an amount equal to all grant payments or other public
subsidies provided to the Developer or Commercial Developer, as applicable , under this
Agreement and any other funds received by the Developer, or Commercial Developer, as
applicable , from the City or County , as applicable , under this Agreement plus interest, at the rate
of four percent ( 4%), not later than the 120th day after the date the public agency, state or local
taxing jurisdiction notifies the Developer or Commercial Developer, as applicable , of the violation.
[Signatures to Follow]
Estates at Eagle Mountain Lake Development Agreement -Page 42
Executed by the Developer, the Path Development, the City , and the County to be effective on
the Effective Date.
ATTEST: CITY OF FORT WORTH, TEXAS
This instrument was acknowledged before me on the 1-f'#' day of Novern\:::e< , 2025 by
Oru:w. 9 \\~•~ofthe City of Fort Worth , Texas , on behalf of said City.
f\SS,StC&.n..-\ ~ MQ..r\_~_i_/U ___ ~ ...... ~~---------
Notary Public , State of Texas
S-2
-------
Victoria Esquivel
My Commlulon Expires
5/12/2029
Notary ID135515177 I
OFF,CIAL RECORD
C ,--.· ~;i(JtETA RY
, fT. WORTH, TX
ATTEST : TARRANT COUNTY I
STATE~OF 'o
By:~------
Name: ' •
Title: ~:e
Date: ID l ft/ (:>Pol5
APPROVED AS TO FORM :
,,..,.~••"Y A!l orney -
As/.. D:r}. A.Hr.
ST ATE OF TEXAS §
§
COUNTY OF TARRANT §
This instrument was acknowledged before me on theoTit~J.day of (td,')g, ,..._ , 2025 by
_____________ of Tarrant County , Texas on behalf of said County. ~~0:U.E:=-
~State of Texas
S-2
DEVELOPER:
MM Bonds 836, LLC,
a Texas limited liability company
By: MMM Ventures, LLC,
STATE OF TEXAS §
§
COUNTY OF DAllAS §·
a Texas limited liability company
Its Manager
By: 2M Ventures, LLC,
a Delaware limited liability company
Its Manager
By:
Name: ~dadMoayc'
Its: Manager
This instrument was acknowledged before me on the ~ day of tc,k,w-,
2025 by Mchrdad Moayedi, Manager of 2M Ventures, LLC, as Manager ofMMM Ventures, LLC,
as Manager of MM Bonds 836, I.LC, a Texas limited liabili on behalf of said cqmpany.
S-2
MATTHEW DAWSON
" Notary ID 11338-43590
.. My commission Expires
July 5, 2026
PATH DEVELOPMENT:
BEA TEN PA 1H DEVELOPMENT-MD COMMERCIAL, LLC
a Texas limited liability company
By: Beaten Path Development, LLC,
a Texas limited liability company
Its Manager
By: OCH Enterprises, LLC,
a Texas limited liability company
Its Sole Member
~ By: .
Nuno:~~
Its: anager
STA TE OF TEXAS §
§
COUNTY OF TARRANT §
This instrument was adcnowlcdgcd bcfure me on the (}.~drry of Qcltc\:el ,
2025 by Jeffrey David, Manager of OCH Enterprises, LLC, a Texas limited liaility company, the
Sole Member of Beaten Path Development, LLC, a Texas limited liability company, the Sole
Manager of Beaten Path Development-MD Commercial, LLC, a Texas limited liability company
on behalf of said company.
ALISHAMCI
Notary 10 112
MyCommtssl
5-2
Notary Public, Statc7fexas
EXHIBIT A
Metes and Bounds Description and Depiction of the Property
Exhibit A -Page 1
LEGAL DESCRIPTION
TRACT 1
762.335 ACRES -GROSS I 747.332 ACRES -NET
BEING all of that certain tract of land situated in the R. Ganzara Survey , Abstract No . 563 and
the Y . Samora Survey , Abstract No. 1385 , Tarrant County , Texas , and being a portion of Tract
IV , described in the deed to Sheelin Mcsharry Texas LP , recorded in Instrument No .
D208118160 , Official Public Records of Tarrant County , Texas (O.P.R.T.C.T.), and being more
particularly described as follows :
BEGINNING at a 5/8-inch capped iron rod found at the intersection of the northerly line of Bonds
Ranch Road and the east line of F.M. 1220 (Morris Dido Newark Road), being the southwest
corner of said Tract IV ;
THENCE with the east line of said F.M . 1220 and the west line of sa id Tract IV , the following
courses and distances :
1. North 14 ° 02' 35" West , a distance of 546.08 feet to a 1/2-inch iron rod with a cap stamped
"RPLS 6677" set (hereinafter referred to as a capped iron rod set) at the beginning of a
curve to the left ;
2. W ith said curve to the left , having a radius of 2914.50 feet , a central angle of 14 ° 30 ' 57'',
an arc length of 738.38 feet , a chord that bears North 21 ° 18' 03" West , a distance of
736.41 feet to a 5/8-inch iron rod found at the end of said curve;
3. North 28 ° 33' 26" West , a distance of 6307.86 feet to a capped iron rod set in the
southeasterly line of a called 0.49 acre tract of land described in deed to Tarrant County ,
recorded in Volume 16701 , Page 241 , Deed Records of Tarrant County , Texas
(D .R.T.C.T .);
THENCE Northeasterly , with the southeasterly line of said 0.49 acres tract , the follow ing courses
and distances:
1. North 15 ° 58' 28" East , a distance of 100 .81 feet to a 5/8-inch capped iron rod found ;
2 . North 60 ° 32' 18" East , a distance of 14.43 feet to a 5/8 -inch capped iron rod found at the
beginning of a curve to the right ;
3. With said curve to the right , having a radius of 470.00 feet , a central angle of 30 ° 23 ' 19",
an arc length of 249.28 feet , a chord that bears North 75 ° 43 ' 58" East , a distance of
246 .37 feet to a capped iron rod set at the end of said curve ;
4 . South 89 ° 04' 21" East , a distance of 103.53 feet to a capped iron rod set at the most
easterly southeast corner of said called 0.49 acre tract ;
THENCE North 01 ° 06' 32" East , with the east line of said 0.49 acre tract, a distance of 5.00 feet
to the northeast corner of said 0.49 acre tract ;
THENCE Northwesterly , with the north line of said 0.49 acres tract , the following courses and
distances :
1. North 89 ° 06' 34" West , a distance of 313 .22 feet to the beginning of a curve to the right ;
2. With said curve to the right , having a radius of 598. 70 feet , a central angle of 16 ° 15' 55",
an arc length of 169.96 feet , a chord that bears North 80 ° 58' 37" West , a distance of
169.39 feet to a point in Peden Road at the end of said curve ;
THENCE, with the north line of said Tract IV , the following courses and distances :
1. South 88 ° 09 ' 30" East , within said Peden Road , a distance of 245.41 feet to a capped
iron rod set;
2. South 89 ° 40' 30 " East , w ithin said Peden Road , a distance of 1231.13 feet to a capped
iron rod set at the northwest corner of a remainder port ion of a tract of land described in
deed to Bonds Ranch Investors II , LTD., recorded in Instrument No. D207444902 ,
O.P .R.T.C .T .;
3. South 00° 19' 30" West , leaving said Peden Road , a distance of 604 .98 feet to a 5/8-inch
capped iron rod found at the southwest corner of Bonds Ranch remainder tract;
4 . South 89 ° 40' 30" East , a distance of 360.06 feet to a 5/8-inch capped iron rod found at
the southeast corner of said Bonds Ranch rema inder tract ;
5. North 00 ° 19' 30" East , a dis t ance of 604.98 feet to a capped iron rod set within said Peden
Road at the northeast corner of said Bonds Ranch remainder tract ;
6. South 89 ° 40 ' 30" East , within said Peden Road , a distance of 339.37 feet to a 5/8-inch
capped iron rod found ;
7. South 00 ° 32' 30" East , a d istance of 17.80 feet to a capped iron rod set ;
8. North 89 ° 34' 32 " East , a distance of 2801.99 feet to a 5/8-inch capped iron rod found at
the northwest corner of a remainder portion of a tract of land described in deed to Bonds
Ranch Investors II , LTD ., recorded in Instrument No. D207444902 , O.P .R.T.C.T ;
9. South 00 ° 25' 28" East , leaving said Peden Road , a distance of 604 .98 feet to a 5/8-inch
capped iron rod found at the southwest corner of sa id Bonds Ranch remainder tract;
10. North 89 ° 34' 32" East , a distance of 360 .06 feet to a 5/8-inch capped iron rod found at
the southeast corner of said Bonds Ranch rema inder tract ;
11 . North 00 ° 25' 28 " West , a distance of 604.98 feet to a 5/8-inch capped iron rod found within
said Peden Road at the northeast corner of said Bonds Ranch remainder tract ;
THENCE North 89 ° 34' 32 " East , a d istance of 2131 .67 feet to the northeast corner of said Tract
IV , w ith in said Peden Road , and the common west line of Tract No. 4 , described in deed to Texas
Electric Service Company (T.E .S.C.O), recorded in Volume 2542 , Page 1, D.R.T .C.T .;
THENCE South 00 ° 25' 05" West , leaving said Peden Road , along the west line of said T.E.S.C .O
tract , a distance of 4050 .57 feet to a 5/8-inch capped iron rod found in the north line of said Bonds
Ranch Road (120-foot right-of-way) recorded in Volume 13449 , Page 39 , D.R.T .C.T ., at the
southeast corner of sa id Tract IV , and at the beginning of a non-tangential curve to the left;
THENCE, leaving the west line of said T.E .S.C.O. tract , with the south line of said Tract IV and
the north line of said Bonds Ranch Road , the following courses and distances :
1. With said curve to t he left , hav ing a radius of 1560.02 feet , a central angle of 36 ° 34' 07'',
an arc length of 995.67 feet , a chord that bears South 59° 38' 09 " West , a distance of
978.86 feet to a 5/8-inch capped iron rod found at the end of said curve ;
2. South 41 ° 21' 06" West , a distance of 1560.32 feet to the most easte rly corner of a 0.112
acre tract of land described in deed to the City of Fort Worth , recorded in Instrument No.
D206245666 , O.P.R.T.C.T.;
THENCE , leaving the north line of sa id Bonds Ranch Road , w ith the lines of said City of Forth
Worth tract , the following courses and distances :
1. North 48 ° 38' 54" West , a distance of 70 .00 feet to a 5/8-inch capped iron rod found ;
2. South 41 ° 21' 06" West , a distance of 70 .00 feet to a 5/8-inch capped iron rod found ;
3. South 48 ° 38' 54" East , a distance of 70.00 feet to a point in the north line of said Bonds
Ranch Road and the most southerly corner of said 0.112 acre tract ;
THENCE , with the north line of said Bonds Ranch Road and the south line of said Tract IV , the
following courses and d istances :
1. South 41 ° 21' 06" West , a distance of 476.91 feet to a 5/8-inch capped iron rod found at
the beginning of a curve to the right ;
2. With said curve to the right , having a radius of 2240 .03 feet , a central angle of 34° 36' 09",
an arc length of 1352.82 feet , a chord that bears South 58 ° 39' 11" West , a distance of
1332 .35 feet to a 5/8-inch capped iron rod found at the end of said curve ;
3. South 75 ° 57' 15" West , a distance of 569.18 feet to the POI NT OF BEGINNING and
enclosing 762.335 acres (33 ,207 ,312 square feet) of land , more or less ;
SAVE & EXCEPT from the 762 .335 acre tract described above , that certain 15 .003 acres in WELL
SITES 1, 2 , & 3 , being more particularly described as follows :
SAVE & EXCEPT -WELL SITE 1
5.001 ACRES
BEING all of that certain tract of land situated in the R. Ganzara Survey , Abstract No . 563, Tarrant
County , Texas , and being a remainder portion of a tract of land described in the deed to Bonds
Ranch Investors II , LTD., reco rded in Instrument No. 0207444902 , Official Publ ic Records of
Tarrant County , Texas (O.P.R.T.C.T.), and being more particularly described as follows :
COMMENCING at a 5/8-inch capped iron rod found at the intersection of the northerly line of
Bonds Ranch Road and the east line of F.M. 1220 (Morris Dido Newark Road), being the
southwest corner of Tract IV, described in the deed to Sheel in McSharry Texas LP , recorded in
Instrument No. 0208118160 , O.P.R .T .C.T.; THENCE North 14 ° 02' 35" West, with the east line
of said F.M. 1220 and the west line of said Tract IV , a distance of 546 .08 feet to a 1/2-inch iron
rod with a cap stamped "RPLS 6677" set (hereinafter referred to as a capped iron rod set) at the
beginning of a curve to the left ; With said curve to the left , having a radius of 2914.50 feet , a
central angle of 14 ° 30 ' 57'', an arc length of 738.38 feet , a chord that bears North 21 ° 18' 03"
West , a distance of 736.41 feet to a 5/8-inch iron rod found at the end of said curve ; THENCE
North 28° 33' 26" West , a distance of 389 . 7 4 feet to a po int ; THENCE North 61 ° 26' 34" East, a
distance of 980 .05 feet to the southwest corner of the herein described tract and the POINT OF
BEGINNING;
THENCE North 28 ° 28' 14" West , a distance of 604 .98 feet;
THENCE North 61 ° 31' 46" East, a distance of 360.06 feet to the northeast corner of the here in
described t ract ;
THENCE South 28 ° 28' 14" East , a distance of 604.98 feet ;
THENCE South 61 ° 31' 46" West , a distance of 360.06 feet to the POINT OF BEGINNING and
enclosing 5.001 acres (217 ,829 square feet) of land, more or less .
SAVE & EXCEPT -WELL SITE 2
5.001 ACRES
BEING all of that certain tract of land situated in the Y. Samora Survey , Abstract No. 1385 , Tarrant
County , Texas, and being a remainder portion of a tract of land described in the deed to Bonds
Ranch Investors II , LTD., recorded in Instrument No. D207444902, Official Public Records of
Tarrant County , Texas (O .P.R.T.C.T .), and being more particularly described as follows:
COMMENCING at a 5/8-inch capped iron rod found at the intersection of the northerly line of
Bonds Ranch Road and the east line of F.M. 1220 (Morris Dido Newark Road), being the
southwest corner of Tract IV , described in the deed to Sheelin McSharry Texas LP , recorded in
Instrument No. D208118160 , O.P .R.T .C.T.; THENCE North 14 ° 02' 35" West , with the east line
of said F.M. 1220 and the west line of said Tract IV , a distance of 546.06 feet to a 1/2-inch iron
rod with a cap stamped "RPLS 6677" set (hereinafter referred to as a capped iron rod set) at the
beginning of a curve to the left ; With said curve to the left , hav ing a radius of 2914.50 feet , a
central angle of 14° 30' 57", an arc length of 738.38 feet , a chord that bears North 21° 18' 03"
West , a distance of 736.41 feet to a 5/8-inch iron rod found at the end of said curve ; THENCE
North 28° 33' 26" West, a distance of 2358 .39 feet to a point ; THENCE North 61 ° 26' 34" East , a
distance of 1810. 74 feet to the southwest corner of the herein described tract and the POINT OF
BEGINNING ;
THENCE North 10 ° 54' 23" West , a distance of 604.98 feet;
THENCE North 79° 05' 37" East , a distance of 360.06 feet to the northeast corner of the herein
described tract ;
THENCE South 10 ° 54' 23" East , a distance of 604.98 feet ;
THENCE South 79° 05 ' 37" West , a distance of 360.06 feet to the POINT OF BEGINNING and
enclosing 5.001 acres (217,829 square feet) of land , more or less.
LEGAL DESCRIPTION
SAVE & EXCEPT -WELL SITE 3
5.001 ACRES
BEING all of that certa i n tract of land situated in the Y . Samora Survey , Abstract No. 1385, Tarrant
County , Texas , and be ing a remainder port ion of a tract of land described in the deed to Bonds
Ranch Investors II , LTD., recorded in Instrument No. D207444902 , Official Public Records of
Tarrant County , Texas (O .P.R.T.C .T.), and being more particularly described as follows :
COMMENCING at the northeast corner of Tract IV, described in the deed to Sheelin McSharry
Texas LP , recorded in Instrument No . D208118160 , O.P.R.T.C.T., within Peden Road , and the
common west line of Tract No. 4 , described in deed to Texas Electric Service Company
(T .E.S.C.O), recorded in Volume 2542 , Page 1, Deed Records of Tarrant County , Texas
(D.R.T.C .T.); THENCE South 00 ° 25' 05" West, leaving said Peden Road , along the west line of
said T.E.S.C.O tract , a distance of 2174.05 feet to a point; THENCE North 89 ° 34 ' 55" West , a
distance of 850.69 feet to the northeast corner of the herein described tract and the POINT OF
BEGINNING ;
THENCE South , a distance of 604.98 feet ;
THENCE West , a distance of 360.06 feet to the southwest corner of the herein described tract ;
THENCE North , a distance of 604 .98 feet ;
THENCE East , a distance of 360.06 feet to the POINT OF BEGINNING and enclosing 5.001
acres (217 ,829 square feet) of la nd , more or less.
LEAVING a net acreage of 747 .332 acres (32 ,553 ,825 square feet) of land , more or less .
LEGAL DESCRIPTION
TRACT 2
88 .573 ACRES
BEING all of that certa in tract of land situated in the R. Ganzara Survey , Abstract No. 563 and
the Y. Samora Survey , Abstract No. 1385, Tarrant County , Texas , and being a portion of Tract V ,
described in the deed to Sheelin McSharry Texas LP , recorded in Instrument No . D208118160 ,
Official Public Records of Tarrant County , Texas (O .P.R.T.C .T .), and being more part icularly
described as follows :
BEGINNING at a 1/2-inch iron rod with a cap stamped "RPLS 6677" set (here inafter referred to
as a capped iron rod set) in the north line of Bonds Ranch Road (120-foot right-of-way), desc ribed
in Volume 13449 , Page 39 , Deed Records of Tarrant County , Texas (D.R.T.C.T.), and at the
southwest corner of said Tract V and the common east line of Tract No. 4 , described in deed to
Texas Electric Serv ice Company (T.E.S.C.O), recorded in Volume 2542 , Page 1, D.R.T.C.T.;
THENCE North 00 ° 25' 05" East , leaving the north line of said Bonds Ranch Road , w ith the east
line of said T.E.S.C .O. tract and the west line of said Tract V , a distance of 4036.96 feet to a point
within Peden Road ;
THENCE North 89 ° 34' 32 " East, with the north line of Tract V , and within Peden Road , a distance
of 363.04 feet to a 1/2-inch capped iron rod found at the northwest corner of a remainder portion
of a tract of land described in deed to Bonds Ranch Investors II , LTD ., recorded in Instrument No.
D207444902, O.P.R.T.C.T.;
THENCE , leaving sa id Peden Road , with the lines of said Bonds Ranch remainder tract , the
following courses and distances :
1. South 00 ° 25' 28 " East, a distance of 604.98 feet to a capped iron rod set at the southwest
corne r of said Bonds Ranch remainder tract ;
2. North 89 ° 34' 32" East, a distance of 360 .06 feet to a capped iron rod set at t he southeast
corner of said Bonds Ranch remainder tract ;
3 . North 00 ° 25' 28" West , a distance of 604 .98 feet to a 1/2-inch capped iron rod found in
said Peden Road at the northeast corner of said Bonds Ranch remainder tract ;
THENCE North 89 ° 34' 32" East , wi t h the north line of said Tract V , within Peden Road , a distance
of 255.38 feet to a 1/2-inch capped iron rod found at the northeast corner of Tract V and the
common northwest corner of a t ract of land described in deed to Denton Town Center Partners,
LP , recorded in Instrument No . D214161904 , O.P .R.T.C.T .;
THENCE South 00 ° 36' 18" East, leaving said Peden Road , with the east line of said Tract V and
the west line of said Denton Tower Center Partners tract , a distance of 4015.42 feet to a 1/2-inch
capped iron rod found in the north line of said Bonds Ranch Road at the southeast corner of said
Tract V and the common southwest corner of said Denton Tower Center Partners tract ;
THENCE with the north line of Bonds Ranch Road and the south line of Tract V , the following
courses and distances :
1. South 89 ° 23' 42 " West , a distance of 815 .33 feet to a 1/2-inch capped iron rod found at
the beginning of a curve to the left ;
2. With said curve to the left , having a radius of 1560.02 feet , a central angle of 08 ° 40' 20",
an arc length of 236.12 feet, a chord that bears South 85 ° 03' 59" West , a distance of
235.89 feet to the POINT OF BEGINNING and enclosing 88.573 acres (3 ,858 ,233 square
feet) of land, more or less .
,. I
/ . ,,.. ,,,.
• I i § I
f.\. ..... ~ .
EXHIBIT A-1
Metes and Bounds Description and Depiction of the Commercial Property
Exhibit A-1 -Page 1
LEGAL DESCRIPTION : SW Commercial
BEING THAT CERTAIN TRACT OF LAND SITUATED IN THE R. GANZARA SURVEY, ABSTRACT NUMBER 563 ,
TARRANT COUNTY, TEXAS , BEING A PORTION OF THAT TRACT OF LAND DESCRIBED BY DEED TO SH EE LIN
MCSHARRY TEXAS LP, RECORDED IN INSTRUMENT NUMBER D208118160 (TRACT IV), COUNTY RECORDS,
TARRANT COUNTY, TEXAS, AND BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS
AS FOLLOWS:
BEGINNING AT THESOUTHWEST CORNER OF SAID SHEELIN TRACT AND THE NORTHWEST CORNER OF
THAT TRACT OF LAND DESCRIBED BY DEED TO TARRANT COUNTY, TEXAS , RECORDED IN VOLUME 13449,
PAGE 39 (PARCEL E), SAID COUNTY RECORDS , AND THE INTERSECTION OF THE NORTH RIGHT-OF -WAY
LINE OF BONDS RANCH ROAD {120 FOOT RIGHT-OF-WAY) AND THE EAST RIGHT-OF-WAY LINE OF MORRIS
DIDO NEWARK ROAD (A VARIABLE W IDTH RIGH T-OF -WAY);
THENCE N 14 °02'35"W, 546.02 FEET, WITH SAID EAST RIGHT-OF-WAY LINE , TO THE BEGINNING OF A
CURVE TO THE LEFT;
THENCE WITH SAID CURVE TO THE LEFT AND CONTINUING WITH SAID EAST RIGHT-OF-WAY LINE, AN ARC
DISTANCE OF 40.92 FEET, THROUGH A CENTRAL ANGLE OF 00 °48'16", HAVING A RADIUS OF 2914 .50
FEET, THE LONG CHORD WHICH BEARS N 14°26'43"W, 40.92 FEET;
THENCE N 6l0 26 '34"E , 953.84 FEET, DEPARTING SAID EAST RIGHT-OF-WAY LINE ;
THENCE S 28 °33 '26"E, 782 .35 FEET, TO THE SOUTH LINE OF SAID SHEELIN TRACT, AND THE BEGINNING
OF A NON -TANGENT CURVE TO THE RIGHT;
THENCE WITH SAID NON-TANGENT CURVE TO THE RIGHT AND SAID COMMON LINE, AN ARC DISTANCE
OF 555.74 FEET, THROUGH A CENTRAL ANGLE OF 14°12'54", HAVING A RADIUS OF 2240.00 FEET, THE
LONG CHORD WHICH BEARS S 68°51'09"W, 554.32 FEET;
THENCE S 75°57'03 "W, 569 .13 FEET, CONTINUING W ITH SAID COMMON LINE , TO THE POINT OF
BEGINNING AND CONTAINING 727 ,358 SQUARE FEET OR 16.698 ACRES OF LAND MORE OR LESS .
c ,,JOe,a:N23004_5J-....,Troc1\2-Sr• \ClN2.3004 -8N2 .
~ i Westwood lirl .tt. T .VNSPS Lor\d Tit .. Surv•y cf ....... Cl!NZ>OO< -16.698 Acres of Land
c,_,1y. T8R
_.. .................. C,-..ly. TAI
! -1&1.WOOCl-'1',....__
Siwoa.t ill ..... ,=-c!:..':'-;.~--1,...... 5&J. -... ,,..,.
fliOll"IWQM'II.TDl<4N!rF ""'-'t1,__
DESCRIPTION NW COMMERCIAL:
BEING THAT CERTAIN TRACT OF LAND SITUATED IN THEY. SAMORA SURVEY, ABSTRACT
NUMBER 1385, TARRANT COUNTY, TEXAS , BEING A PORTION OF THAT TRACT OF LAND
DESCRIBED AS "TRACT 1" BY DEED TO MM BONDS 836, LLC, RECORDED IN INSTRUMENT
NUMBER D224060969, COUNTY RECORDS, TARRANT COUNTY, TEXAS , AND BEING MORE
PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
COMMENCING AT A PK NAIL, WITH SHINER STAMPED "WESTWOOD", SET AT AN "ELL"
CORNER IN THE NORTH LINE OF SAID MM BONDS 836 TRACT, THE NORTHWEST CORNER
OF A REMAINDER OF THAT TRACT OF LAND DESCRIBED BY DEED TO BONDS RANCH
INVESTORS II, LTD., RECORDED IN INSTRUMENT NUMBER D207444902 SAID COUNTY
RECORDS, IN THE SOUTH LINE OF THE REMAINDER OF THAT TRACT OF LAND DESCRIBED
BY DEED TO WALSH RANCHES, LP, RECORDED IN VOLUME 12624, PAGE 92, SAID
COUNTY RECORDS, AND BEING IN PEDEN ROAD (A PAVED AND TRAVELED ROADWAY OF
UNDETERMINED WIDTH);
THENCE S 00°19'30"W, 55.00 FEET, WITH THE WEST LINE OF SAID REMAINDER TRACT, TO
A 5/8 INCH IRON ROD , WITH PLASTIC CAP STAMPED "WESTWOOD", SET FOR THE POINT
OF BEGINNING;
THENCE S 00°19'30"W, 440.92 FEET, WITH THE WEST LINE OF SAID REMAINDER TRACT, TO
A5/8 INCH IRON ROD , WITH PLASTIC CAP STAMPED "WESTWOOD", SET, FROM WHICH A
5/8 INCH IRON ROD , WITH PLASTIC CAP STAMPED "BROOKES BAKER", FOUND AT THE
SOUTHWEST CORNER OF SAID REMAINDER TRACT, BEARS S 00°19'30"W, 109.06 FEET;
THENCE S 61°26'34"W, 1059.61 FEET, TO A 5/8 INCH IRON ROD, WITH PLASTIC CAP
STAMPED"WESTWOOD", SET IN THE EAST RIGHT-OF-WAY LINE OF MORRIS DIDO NEWARK
ROAD (A VARIABLEWIDTH RIGHT-OF-WAY) AND THE WEST LINE OF SAID MM BONDS 836
TRACT;
THENCE N 28°33'26"W, 931 .10 FEET, WITH SAID COMMON LINE , TO A 5/8 INCH IRON
ROD, WITH PLASTIC CAP STAMPED "WESTWOOD", SET AT THE SOUTHWEST CORNER OF
THAT TRACT OF LAND DESCRIBED BY DEED TO TARRANT COUNTY TRANSPORTATION
DEPARTMENT, RECORDED IN VOLUME 16701, PAGE 241, SAID COUNTY RECORDS;
THENCE N 15°58'28"E, 61.08 FEET, TO A 5/8 INCH IRON ROD WITH PLASTIC CAP STAMPED
"WESTWOOD", SET, FROM WHICH A 5/8 INCH IRON ROD WITH ALUMINIUM CAP STAMPED
"TARRANT COUNTY" FOUND BEARS, N 15°58'28"E 39.73 FEET;
THENCE OVER AND ACROSS SAID MM BONDS TRACT THE FOLLOWING COURSES AND
DISTANCES ;
N 60°32'18 "E, 42.88 FEET, TO A 5/8 INCH IRON ROD WITH PLASTIC CAP STAMPED
"WESTWOOD", SET AT THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 234.50 FEET, THROUGH A
CENTRAL ANGLE OF 30°23'53", HAVING A RADIUS OF 442.00 FEET, THE LONG
CHORD WHICH BEARS N 75°43 '42"E, 231 .76 FEET, TO A 5/8 INCH IRON ROD , WITH
PLASTIC CAP STAMPED "WESTWOOD", SET;
S 89°04'21 "E , 103.71 FEET, TO A 5/8 INCH IRON ROD, WITH PLASTIC CAP STAMPED
"WESTWOOD", SET
THENCE S 89°40'30"E, 995 .88 FEET, CONTINUING OVER AND ACROSS SAID MM BONDS
TRACT, TO THE POINT OF BEGINNING AND CONTAINING 883,495 SQUARE FEET OR 20.282
ACRES OF LAND MORE OR LESS .
I
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Sihioted NI tM Y. Somore ~vey, Abs lt oc l N1.ne« 1315
TarrontC-tr.Tno...
I
L..---.-.--------------~--.,-,-----~-.--.-~--------------------------------.-...... -.,,....,...,_-..._..,..,.,,oo,.,'",'""-'""""'°,...,.' ________________________ -,,Job""""No.,-,CE"""N2"3004=°'1"'RDD4""6855""",-&------J
EXHIBITB
Opinion of Probable Cost
Exhibit B-1 -Page 1
Westwood
LOT SUMMARY
15K SF= 260
30K SF= 40
TOTAL= 300
DESCRIPTION
Earthwor'< & Erosion Control
Wale r
San itary Sewer
Paving
Drainage
Street Lights and Signage
Retaining Walls
Landscaping, Screening Walls & Entry Features
Gas Line Lowerings
Overhead Electric Relocation
TOTAL CONSTRUCTION COSTS
Engineering & Surveying•
Wetlands/WOTUS Detennilation/404 Permitting
WOTUSVitigation
PPM Bonds"
Final Plat Fees
City/County Review Fees•
Water/Sewer Inspection Fees
Paving/Drainage/Street Lights Inspection Fees
Water Capacity Chaille Fee
Sanitact Sewer Basin Fees :
WW Diversion from Eagle "'11 Basin to Big Fossil Creek Basin 36-ln ch
Neighborhood Par'< Fees
Community Par'< Fees
Construction Management ($1 ,000 /lot)
Electric Serv~e ($2 ,000/lot)
TOTAL MISCELLANEOUS COSTS
Construction Costs
Miscellaneous Costs
Contingency Costs
TOTAL PROJECT COSTS
OPINION OF PROBABLE COST
ESTATES AT EAGLE MOUNTAIN
PHASE 1
C~y of Fort Worth ET J, Tarrant County , Texas
CONSTRUCTION COSTS
PRIVATE PIO DIRECT
NSJWATER
$ 4,590 ,600 $ 1,133,600 NIA
NIA $ 2,023 ,500 $ 276 ,69 2
NIA $ 3,552,950 NIA $
NIA $ 5,224,595 NIA
s 140,000 $ 589,220 NIA
NIA $ 388 ,000 NIA
$ 2,380 ,201 NIA NIA
s 4,040 ,000 NIA NIA
NIA $ 1,050 ,000 NIA
NIA NIA NIA
$ 11,150,801 $ 13,961,865 $ 276 ,692 $
MISCELLANEOUS COSTS
12% $ 567 ,672 $ 1,549,424 $ 33 ,203 $
$ s s $
$ s s s
3% $ 141 ,918 $ 387,356 $ 8,301 s
$ 10,000 NIA N/A
1% s 47,306 $ 129,119 $ 2,767 $
4% s $ 223 ,058 s 11 ,068 $
6% $ 8,400 $ 372 ,109 $ $
NIA NIA NIA
$498.30 /AC NIA $ 113,114 NIA
s NIA NIA
$ 219 ,375 NIA NIA
s 300 ,000 NIA NIA
$ 600,000 NIA NIA
$ 1,894,671 $ 2,774,180 $ 55 ,339 $
SUMMARY OF PROJECT COSTS
s 11,150,801 $ 13,961 ,865 $ 276 ,692 $
$ 1,894,671 $ 2,774,180 $ 55 ,33 9 $
10% $ 1,115,080 $ 1,396 ,187 s 27 ,669 s
$ 14,160,552 $ 18,132,232 $ 359 ,700 $
PER LOT COST = $47,202 $60,441
Project Number: CEN23004_SheellnTract
Prepared For: Centurion American
Date: 9/3/2025
Prepared by : CJB
Checked by: MPP
MAJOR INFRASTRUCTURE
SANITARY BONDS MORRIS-DIDO TOTAL
SEWER RANCH ROAD NEWARK
ROAD
NIA $ 84 ,380 NIA $ 5,8 08 ,580
NIA NIA NIA $ 2,300,192
1,668 ,800 NIA NIA $ 5,221,750
NIA $ 1,494,490 $ 750 ,000 $ 7,469,085
NIA $ 847 ,800 NIA $ 1,577,020
NIA $ 1,012,500 NIA $ 1,400,500
N/A N/A NIA $ 2,380 ,2 01
NIA $ 189,990 NIA $ 4,229 ,9 90
NIA $ 500 ,000 NIA $ 1,550,000
NIA N/A NIA $
1,668,800 $ 4,129,160 $ 750,000 $ 31,937,318
200 ,256 $ 412,700 $ 90 ,000 $ 2,853 ,255
$ s $
s s $
50 ,064 s 103,175 s 22,500 $ 713 ,314
NIA NIA NIA $ 10,000
16,688 $ 34,392 s 7,500 $ 237,772
66 ,752 $ s $ 300,878
$ 201 ,287 $ 45 ,000 $ 626 ,796
NIA NIA NIA $
$
NIA NIA NIA $ 113 ,114
NIA NIA NIA $
NIA NIA NIA $ 219,375
NIA NIA NIA $ 300,000
NIA N/A N/A $ 600,000
333,760 $ 751,554 $ 165,000 $ 5,974,504
1,668 ,800 $ 4,129,160 $ 750,000 $ 31,937,318
33 3,760 $ 751 ,554 $ 165,000 $ 5,974,504
166 ,880 $ 412,916 s 75,000 $ 3,193,732
2,169,440 $ 5,293,630 $ 990 ,000 $ 41 ,105,554
TOTAL PER LOT COST= $137,019
• Based on % of construction costs listed and are exclusive of gas ine bwering s, overhead electric relocation , retaining walls, and landscaping.
S:\Graham Maxey\Developments\Bonds Ranch\OPC\Phase 1\20250321-Estates at Eagle Mnt-OPC-Phase 1 (TB Scrubbed) Clean 1 of 1
EXIDBIT C
CONCEPTUAL PLAN
Exhi bit C -Page 1
Westwood 5HEELIN TRACT
:!: I ,0 18 LOTS @ l00' X I 50' TYP J :!: I 08 LOTS @ I 50' X 200' TYP
100' x 150' LOTS
150' x 200' LOTS
PROPOSED COMMERCIAL
ROADS
EXISTING ROW
SCHOOLS/TE
DETENTION PONDS
AAENfTY CENTER
LIFT STATION
PARKS
OPEN SPACE
t-t.fAC.
t 1.0AC.
t 6.6 AC.
0 500 1000 ru-,
±83G AC GROSS I CITY OF FORT WORTH ETJ J TARRANT COUNTY J JANUARY 2025
5CAlf: 1· • 500.(J'
EXIDBITD
DESIGN STANDARDS
ESTATES AT EAGLE MOUNTAIN LAKE DEVELOPMENT STANDARDS
SINGLE FAMILY DISTRICT:
(a) Uses. The following uses shall be permitted in the Single Family District:
(1) Single Family Residential
(2) Temporary concrete/asphalt batch plants
(3) Model Homes
(4) Construction Yards
(5) Temporary construction offices
(6) Temporary sales offices
(7) Concrete washouts
(8) Amenity/Community Center(s)
(b) Property development standards.
(1) In the Single Family District, the minimum dimension oflots and yards and the height
of buildings shall be as described below:
a. Lot area: 15 ,000 square feet minimum.
b. Lot width: 100 feet minimum at building line.
c . Lot coverage: 45% maximum not including accessory buildings or pools.
d. Front yard: 25 feet minimum
e. Rear yard : 20 feet minimum
f. Side yard : 10 feet minimum
(i) Comer lot: 15 feet minimum (projected front yard setbacks will not
apply)
g. Height: 40 feet maximum
h. Minimum Air-Conditioned Square Footage: 2,500 square feet
(2) Commentary.
a. Carports shall not be allowed. Porte cocheres shall be allowed.
b. Fences shall be constructed by the homebuilder , shall be board-on-board wood
fencing or decorative metal/ornamental fencing and shall be six feet in height. When
Exhibit D -Page 2
adjacent to open spaces , decorative metal/ornamental fencing six feet in height shall be
required and constructed by the homebuilder. Where single-family is adjacent to
commercial or school site , masonry fencing shall be constructed by the developer. Along
Bonds Ranch Road and Morris Dido Newark Road shall be one, or a combination, of the
following , in Developer's discretion: (i) a three-rail wooden stockade fence minimum of
three and a half feet in height, (ii) live screening, or (iii) masonry screening.
c. Facade , materials and appearance , see City of Fort Worth, Chapter 6,
Development Standards, § 6 .507 Single-Family Residential Design Standards, except as
amended herein:
(1) Exterior Walls shall consist of a minimum of 100% masonry , except
architectural features including without limitation, windows, doors ,
dormers and gables and except any requirement that would force the
installation of brick and/or stone over wood. "Masonry" shall include
brick, stone , or stucco (no EIFS). Similar products made from such
materials and /or durable recycled material shall be allowed as approved
by the HOA 's Architectural Control Committee
(2) Minimum Roof Pitch : Roof pitch shall be based on architectural design.
(3) Roofing materials shall be composition or architectural. No three-tab
roofing allowed.
(4) Redundancy. Development regulations applicable to One-Family
Dwellings as reflected in Section 6.507 of the City of Fort Worth Zoning
Ordinance in effect on the date these Design Standards are approved
shall apply for redundancy requirements , unless in conflict with this
Design Standards.
(c) Other development standards. Development in the Single Family District may be subject to a
variety of general development standards in City of Fort Worth, Chapter 6, except as amended
herein, and the following provisions:
(1) Signs. On-premises signs subject to the following:
a. An unilluminated sign for those uses allowed that are not residential. The sign
shall not exceed 30 square feet in area, shall be no higher than six feet above grade
and shall be placed a minimum of ten feet behind the property line. Such sign shall
not be placed within 20 feet of drives providing ingress and egress to the property.
(2) Residential design standards. See City of Fort Worth, Chapter 6, Development
Standards, § 6.507 Single-Family Residential Design Standards, except as modified herein.
(3) Access through residential districts. See City of Fort Worth, Chapter 6, Development
Standards, § 6.500 Access through Residential Districts , except as amended herein.
Exhibit D -Page 3
(4) Reconstruction of nonconforming accessory buildings. A nonconforming accessory
building that is damaged by fire, the elements or other cause beyond the control of the owner may
be repaired or reconstructed in the same rear and side yard setbacks provided the construction is
limited to the identical footprint (replacement of the foundation is allowed); the building is the
same design, height and roof pitch (use of different material is allowed) and the owner or an agent
obtains a building permit to repair the structure within six months after the damage date. The owner
shall have the burden of proof to establish the damage date.
(5) Garage. No more than two garages or porte cocheres shall be allowed per residential
unit on a single residential lot, unless the additional garages or porte cocheres are an integral part
of the main residential structure with the same roofline and driveway as the residential structure.
Porte cocheres shall be allowed. Every residence is required to have a garage with a capacity of
not less than two automobiles . A maximum of two front entry garages shall be allowed. All front
entry garages must be setback a minimum of twenty feet from the front building fayade.
(6) Landscaping. Homebuilders shall be required to sod and irrigate all four yards (front,
both sides, and rear). Homebuilders shall be required to erect a minimum of two three-inch caliper
trees in the front yard of each lot. A minimum fifteen-foot-wide landscape buffer from the Right
of Way shall be provided for along Bonds Ranch Road, Morris Dido Newark Road, and Peden
Road.
(7) Mailboxes. One mailbox per house shall be required and shall be constructed of the
same or complimentary materials as the house itself, unless different requirements are enforced by
the postmaster general.
(8) Sidewalks. Sidewalks shall not be required.
(9) Culverts. Culverts are required for all driveway entrances and walkways that cross over
a bar ditch. Culverts must be sized appropriately for each lot. Culverts must be compatible with
the overall aesthetics of the entrance and the primary residence.
(10) Accessory Buildings . Accessory Buildings/second~ry structures , including but not
limited to, outbuildings, play structures, detached garages , shade structures, pools , cabanas, and
guest quarters shall be compatible with the overall design and aesthetics of the primary residence.
(11) Streetlights. One ornamental streetlight shall be required at every T-intersection, four-
way intersection, and cul-de-sac.
COMMERCIAL DISTRICT:
(a) Commercial Property shall be developed in accordance with the permitted uses and
development regulations applicable to the Neighborhood Commercial ("E") District as reflected
in Sections 4.803 and 4.901 of the City of Fort Worth zoning ordinance in effect on the date these
Design Standards are approved.
DRIVEWAY CUL VERT SIZING:
Exhibit D -Page 4
1. Driveway culverts shall be designed to convey a minimum of the 10-year rain event. The
headwater depth may not exceed the culvert diameter plus 6-inches
2. Lot to lot drainage is allowed.
3 . Type A, Type B, & Type C lot drainage is allowed.
INFRASTRUCTURE STANDARDS:
Water and Sewer:
1. Installation Policy and Design Criteria for Water, Wastewater and Reclaimed
Water Infrastructure, dated May 2019, and incorporated in the Subdivision Ordinance;
2. Community Facilities Agreements Ordinance;
3. Unit Price Ordinance, effective as of June 1, 2019, in Ordinance No. 23657-05-
2019;
4. Chapter 35 of the Code of the City of Fort Worth; and
5. The City of Fort Worth's backflow, pretreatment and water restriction ordinances
and regulations.
Drainage:
Stormwater Criteria Manual, effective July 15, 2024, Ordinance No. 26963-06-2024, as
amended.
Roadway:
1. Street design and construction standards set forth in the City's Transportation and
Engineering Manual, effective May 7, 2019;
2. Master Thoroughfare Plan adopted on May 3, 2016, in Ordinance No. 22191-05-
2016, and as updated on November 10, 2020, in Ordinance No. 24524-1 l-2020;
3. Access Management Policy effective as of August 1, 2018 and adopted on June 5,
2018, in Ordinance No. 23225-06-2018;
4. Collector Network Planning Policy effective as of August 1, 2018, through
amendment to the Subdivision Ordinance in Ordinance No. 23225-06-2018; and
Exhibit D -Page 5
Parks:
5. Pavement Design Manual adopted on January 29 , 2015 .
6. The long blocks as generally shown in the layout on the Conceptual Plan shall be
allowed. Modifications to the block face length from what is shown in the Conceptual Plan
shall be allowed to accommodate site design constraints including topographic conditions ,
preserved floodplain , open space , gas wells , electric lines and natural gas pipelines, and the
school site.
7. All internal streets shall be allowed to have 12 ' drive lanes with a 12 "
gutter/shoulder in a 60 ' right-of-way .
8. All internal streets shall be allowed to have either 3: 1 slope bar ditches or lay down
curbs provided however, the bar ditches shall be within the right-of-way and /or an adjacent
drainage easement, in Developer or Commercial Developer's discretion
The City of Fort Worth Neighborhood and Community Park Dedication Policy, Ordinance
No. 26597-11-2023 effective January 1, 2024.
Subdivision Ordinance :
The City of Port Worth Subdivision Ordinance , codified as Chapter 31 of the City Code.
Exhibit D -Page 6 ..
EXHIBIT E-1
24" Northside 3 Regional Water Improvement Depiction
Exhibit E -Page 1
No11hs ide Ill Plane -The area north and northwes t of the No rth Side
11 Plane between the ground elevations of720 feet and 820 feet. The
water storage tank(s) overflow elevation is 950 feet . The bottom of
the water storage tnnk(s) bowl elevation is 9 10 feet .
Northside JV Plane -The area no rt h and nort hwest of the North Side
Ill Plane between the ground elevations of 820 feet and 920 feet . The
water storage tank(s) overflow elevation is 1030 feet. The bottom of
the water sto rage tank(s) bowl elevation is 990 feet .
Westwood
ESTATES AT EAGLE MOUNTAIN
EXHIBIT E-1
NORTHSIDE Ill REGIONAL WATER IMPROVEMENTS
MAY2025
0 1200 2400 ru-,
~Alf: I" • I 200-0'
EXHIBIT E-2
Northside 4 Regional Water Improvement Depiction
Exhibit E -Page 1
No11hsidc Ill Plane -The area north and northwest of the North Side
II Plane between the ground elevations of no feet and 820 feet. The
water storage tank(s) overflow elevation is 950 feet. The bottom of
the water storage tank(s) bowl elevation is 910 feet .
Norrh side IV Plane -The area notth and northwest of the North Side
In Plane between the ground elevations of820 feet and 920 feet . The
water storage tank(s) overflow elevation is 1030 feet. The bottom of
the water storage tank(s) bowl elevation is 990 feet .
Westwood
ESTATES AT EAGLE MOUNTAIN
EXHIBIT E-2
NORTHSIDE IV REGIONAL WATER IMPROVEMENTS
MAY 2025
0 1200 2◄00 • rw-,
!liCALf: I' • 1200-0"
EXHIBITF-1
Phase 1 Sewer Improvement Depiction
Exhibit F-1 -Page 1
~'-
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PD -S INGLE FAM I
R.ENT ± 27 T
OPEN SPACE ______ -~l L
Ji ---r-'.:...:,.-....,
t -\ , • ESTATES AT EAGL
Westwood EXHIBIT F-1
MAY2025
D ELECTR.IC
3 00 GAS WELL
.. [ SETElACK
:J••~ ....
G'r:tJ \\ :'i:J., /)
\
I
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••· ◊ ~Li_T[ilf .. ..._,
<i -I ' ,.~; I \ \
GOO 1200 .tbo
EXHIBIT F-2
Lift Station Band Force Main Improvement Depiction
Exhibit F-2 -Page 1
Westwood
ESTATES AT EAGLE MOUNTAIN
EXHIBIT F-2
MAY2025
EXIDBIT G
Rio Claro Property Depiction
Exhibit G -Page 1
td
Zf
_ I � '' "'t"'•F3r P i F.b F fr,'F t;
EXHIBITH
Lift Station B Site Description and/or Depiction
Exhibit H -Page 1
l
ii
NOTE :
1.
(Called Appro• ~ ~ .. t
t-nt r, .ltif',t-ot-Way)
'Hic:i<s Rooa-COfl'liu~ Cost Mlllwt_,• \ ' : """"'·'-"·""
~ -\ ,
Torr•tCo,,,nt
T1Qr>11p1,1111'tMI
Vol. ,l~~:C:t -
EASEMENTS SHOWN ARE BASED ON
PRELIMINARY DESIGN. FINAL EASEMENT WIDTHS
Will BE DETERMINED DURING FINAL DESIGN AND
CITY APPROVAL PROCESS.
Walffl Ror>CMS. LP (R.molndlr)
Yd. 12'e2-t,P9. 92
C.ltT.C.T.
PED E N ROAD
MM Bon<h 836, U.C
(Tract I)
lnst.f D22406 0969
C.R.T.C.T.
20 .282 Aa'H
I ,.
FUTURE SANITARY SEWER
LIFT STATION 'B' SITE (1 AC)
,:;~..(<,"
l'-9
<,l'--,i.O~ ,1:,'I>'>
""· ,,_o.
"'<¢<,~-
35' SEWER EASEMENT
Sh ... ;ntil~r1e•ot:IJ>
(Troc:t lV)
lr111t.f 0208118160
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11111.f 020744-t"-02
C.ft.T.C.T.
75' DRAINAGE EASEMENT
,-----------------------------------------------------~ SHEELIN TRAC T I Westwood SANITARY s~~~~~:2. STATION 'B' ~ O' 150' 300'
'------------------------------------------•DE•'°"""--""------------------------------------------•
i
!I
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EXHIBIT I
Roadway Improvements Description
Exhibit I -Page 1
I 1T
I I
_I ~N .,
4'
rMIN. I J.-1~ ;.\~ 8t.Ofi ·
I ::::::::::_..:: ~
I _,M~~-L I
60'R.O.W.
26'
1'SHOULDER 1'SHOULDER I!
------i----1r---~-
u-'
12' I 12'
DRIVE LANE DRIVE LANE
I
ALL INTERNAL STREETS
ADJACENT TO SCHOOL SITE
~
~
i
~
j
~
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~-------------------------------------------------...... 1 i ~---.-..1 ESTATES AT EAGLE MOUNTAIN j I 1Ma1.wuuu TYPICALJ!~~;,~cr10Ns I_·
~ APRIL2025 ~
.:.._ _________________________________________________ <.!)
1-------------------110'R.O.W .-------------------i1
-11'11'SIO~~K 12'----~-1--==--=~=--=-=--
2
-lA-2:=•ES-
28,~t=====,===-~-• ---~u-i-,'/J;2'------, ,r nlr
1,•c:=:==:::::r• -----~L'===============+9---+---------------------..n-------------c======::::r, I · ----
1
_____________________ J I
'---------PROPOSED IMPROVE MENTS-------i-----------FUTURE IMPROVEMENTS----------'
PEDEN ROAD
CFW MTP STREET CLASSIFICATION: NCO-L2-T0-TWLT-P0-BOP (110)
-----28'
-------PROPOSED IMPROVEMENTS
BONDS RANCH ROAD
CFW MTP STREET CLASSIFICATION : NCO-L2-T0-TWLT-P0-BOP (110)
* NOTE: A 120' FULL WIDTH R.O.W. HAS ALREADY BEEN DEDICATED FOR
BONDS RANCH ROAD . 110' WIDTH R.O.W . IS REQUIRED PER THE CITY OF
FORT WORTH MTP.
l ~----------------------------------------------------1 "" i CITY OFF ORT WORTH ET J, TEXAS i._ _______________________ Af'-RI-L20_25 ______________________ ___
Westwood
ESTATES AT EAGLE MOUNTAIN
STREET SECTIONS -BONDS RANCH ROAD AND PEDEN ROAD
20'
I'
SANITARY SEWER LINE --...J
(SOUTH/WEST SIDE OF STREET)
10'
60' R.O.W.
20'
3'-
I
C.,-0
7' 3'-
WATERLINE
(NORIB'EAST SIDE OF STREET)
WATER TRANSMISSION MAIN
(WHEN APPLICABLE)
lt-:--------------60'R.O.W .---------------t
1-----20·----------20'---------20'------
l''-i--10·--1-10'-3•-
SANITARY SEWER LINE-~ I I J I I (SOUTH/WEST SIDE OF STREET)
STORM DRAIN LINE
(WHEN APPLICABLE)
WATERLINE
(NORTH/EAST SIDE OF STREET)
~
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I i ESTA TES AT EAGLE MOUNTAIN ~"'1:z::
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NOTE :
80' WIDE R.O.W . STREET SECTIONS ARE ADJACENT TO A PROPOSED SCHOOL SITE. PROPOSED
WATER AND SANITARY SEWER MAINS WILL BE LOCATED ON THE STREET SIDE CLOSEST TO THE
SCHOOL SITE TO AVO ID LONG WATER AND SANITARY SEWER SERV ICE LINES .
ESTATES AT EAGLE MOUNTAIN
Westwood TYPICAL UTILITY CROSS SECTIONS -80' R.O.W.
CITY Of FORT WORTH ET J, TcXAS
APRI L 2025
11/4/25 , 4 :33 PM M&C Rev iew
Official site of the City of Fort Worth, Texas
CITY COUNCIL AGENDA
Create New From This M&C
DATE:
CODE:
611012025 REFERENCE
NO.:
L TYPE:
**M&C 25-
0551
CONSENT
LOG NAME:
PUBLIC
HEARING:
F0 RT\VO RTH
~
06ESTATES AT EAGLE
MOUNTAIN LAKE
DEVELOPMENT AGREEMENT
NO
SUBJECT: (ET J , Future CD 7) Authorize Execution of a Development Agreement with MM Bonds
836, LLC and Beaten Path Development-MD Commercial LLC, for Approximately 836
Acres of Land Commonly Referred to as Estates at Eagle Mountain Lake, Located in Fort
Worth's Extraterritorial Jurisdiction in Tarrant County
RECOMMENDATION:
It is recommended that City Council authorize the City Manager or a designee to execute a
Development Agreement and take actions to carry out such agreement with MM Bonds 836, LLC , and
Beaten Path Development-MD Commercial LLC , or approximately 836 acres of land commonly
referred to as Estates at Eagle Mountain Lake , located in Fort Worth's extraterritorial jurisdiction in
Tarrant County.
DISCUSSION:
MM Bonds 836, LLC and Beaten Path Development-MD Commercial , LLC , (collectively the
Developer) has expressed interest to enter into a Development Agreement with the City of Fort Worth
for approximately 836 acres of real property located within the extraterritorial jurisdiction of the City in
Tarrant County. The site is south of Peden Road , east of Morris Dido Newark Road and north of Bonds
Ranch Road.
Pu rsuant to the agreement , the Developer will develop the proj ect site as a mixed-use development
consisting of residential and commercial uses , including open space , and other public and private
amenities. The City will serve as the retail provider of water and sewer services to the area.
Tarrant County has created the Bond Ranch Public Improvement District (PIO) and the Bond Ranch
Operations and Maintenance Public Improvement District (O&M PIO) to fund infrastructure costs and
associated costs for res idential uses of the property.
The City will have the option to annex the commercial property upon issuance of the first series of PIO
Bonds. The Development Agreement is being entered into pursuant to Section 212.172 of the Texas
Local Government Code.
The property is in the extraterritorial jurisdiction adjacent to COUNCIL DISTRICT 7.
FISCAL INFORMATION/CERTIFICATION:
The Director of Finance certifies that approval of this recommendation will have no material effect on
City funds.
TO
Fund Department Account Project Program Activity Budget Reference# Amount
ID ID Year Chartfield 2
FROM
Fund Department Account Project Program Activity Budget Reference# Amount
ID ID Year Chartfield 2
apps .cfwne t.org/cou ncil_packet/mc _review.asp ? ID=33412&councildate=6/10/2025 1/2
11/4/25 , 4 :33 PM
Submitted for City Manager's Office by_;_
Originating DeP-artment Head:
Additional Information Contact:
ATTACHMENTS
M&C Rev iew
Jesica McEachern (5804)
D.J. Harrell (8032)
Derek R. Hull (2412)
1295 -Estates at Eagle Mountain Lake DeveloRment Agreement.Rdf (CFW Internal)
Form 1295 Certificate.Rdf (CFW Internal)
VicinitY. MaR-Estates at Eagle Mountain Lake.REV.Rdf (Public)
apps .cfwnet.org/council_packeVmc _review.asp? ID=33412&councildate=6/10/2025 212
FORT WORTH ® ...., _/
City Secretary's Office
Contract Routing & Transmittal Slip
Contractor's Name: MM Bonds 836 , LLC and Beaten Path Development-MD Commercial LLC
Subject of the Agreement: Development Agreement for Estates at Eagle Mountain Lake
M&C Approved by the Council? * Yes Ii!!!! No □
ff so , the M&C must be attached to the contract.
Is this an Amendment to an Existing contract? Yes □ No Ii!!!!
ff so, provide the original contract number and the amendment number.
Is the Contract "Permanent"? *Yes Ii!!!! No □
ff unsure, see back page for permanent contract listing.
Is this entire contract Confidential? *Yes D No Ii!!!! ff only specific information is
Confidential, please list what information is Confidential and the page it is located.
Effective Date: Date all parties sign Expiration Date: NIA ----------
ff different from the approval date . ff applicable.
Is a 1295 Form required? * Yes Ii!!!! No □
* ff so , please ensure it is attached to the approving M&C or attached to the contract.
Project Number: ff applicable. N_I_A _________ _
*Did you include a Text field on the contract to add the City Secretary Contract (CSC)
number? Yes D No Ii!!!! Needs to be stamped and written in . City was not in control of contract drafting.
Contracts need to be routed for CSO processing in the following order:
1. Katherine Cenicola (Approver)
2. Jannette S. Goodall (Signer)
3. Allison Tidwell (Form Filler)
* Indicates the information is required and if the information is not provided, the contract will be
returned to the department.