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R2003-0109 09-08-03 RESOLUTION NO. R2003-10g A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS, APPROVING AN AMENDED DEVELOPMENT AGREEMENT WITH BEAZER HOMES TEXAS, L.P. FOR THE ALLOCATION OF COSTS ASSOCIATED WITH THE EXTENSION OF PEARLAND PARKWAY. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS: Section 1. That amended development agreement by and between the City of Pearland and Beazer Homes Texas, L.P., a copy of which is attached hereto as Exhibit "A" and made a part hereof for all purposes, is hereby authorized and approved. Section 2. That the City Manager or his designee is hereby authorized to execute and the City Secretary to attest an amended development agreement with Beazer Homes Texas L.P., for the allocation of costs associated with the extension of Pearland Parkway. PASSED, APPROVED and ADOPTED this the 8th dayof September , A.D., 2003. ATTEST: Y~J~IG L~~, =F~I~IC./ I~ SEC.~ETARY t/ APPROVED AS TO FORM: DARRIN M. COKER CITY ATTORNEY TOM REID MAYOR Exhibit "A" Resolution No. R2003-109 AMENDMENT TO DEVELOPMENT AGREEMENT This AMENDMENT TO DEVELOPMENT AGREEMENT (this "Agreement") is made and entered into as of-~¢,¢/. ~'~ ,2003, by and between the CITY OF PEARLAND, TEXAS, a home rule municipality located in the counties of Brazoria, Harris, and Fort Bend, Texas (the "City"), and BEAZER HOMES TEXAS L.P., a Texas limited partnership (the "Developer"), or its assigns, represented herein by its undersigned, duly authorized general partner. RECITALS The City and the Developer entered into that certain Development Agreement, dated as of May 22, 2000 (the "Agreement"), relating to the construction of certain public improvements in connection with the Developer's development within the City. The parties to the Agreement wish to amend the Agreement to revise the description of certain projects and the sharing of the costs thereof. NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements herein contained, and other good and valuable consideration, the receipt and sufficient of which are hereby acknowledged, the parties hereby agree as follows: Section 1. Capitalized terms used in this Amendment shall have the meanings assigned to them in the Agreement, unless otherwise defined or the context clearly requires otherwise. Section 2. follows: Section 4.4 of the Agreement is hereby amended to read in its entirety as "4.4 Developer and City Obligations relating to the construction of Monroe/McHard Road and Pearland Parkway. (a) The City agrees to proceed with diligence to complete the construction (currently underway) of the Monroe/McHard Road Extension, as a four-lane road, with appropriate landscaping, irrigation and lighting; (b) The Developer has completed the construction of the Pearland Parkway Extension A four-lane road, with appropriate landscaping, irrigation and lighting, at a cost of $1,714,323. Upon presentation by Developer of evidence of actual costs incurred, the City agrees to reimburse the Developer for 50% of such costs ($857,162) from the proceeds of a City bond issue, or other lawfully available funds of the City, within one year from the date of this Amendment; (c) The City agrees to proceed with diligence to complete the construction (currently underway) of the Pearland Parkway Extension B, as a four-lane road, with appropriate landscaping, irrigation and lighting; amendment to development agreement (d) Except as otherwise specified, the Obligation of the City described in this Section shall be paid from lawfully available funds that may be currently available in the budget year in which such improvements are designated to be constructed. The City agrees to use its best efforts to collect revenues, issue bonds, and appropriate funds as may be required to finance such improvements." Section 3. Section 6.13 of the Agreement is hereby deleted. Section 4. Except as amended hereby, the original terms of the Agreement shall remain in full force and effect as of the effective date thereof. [Signatures begin on following page] amendment to developnlent agreenlent IN WITNESS WHEREOF, the Parties have duly executed this Agreement pursuant to all requisite authorizations as of the date first above written. CITY: ATTEST: // , City Manager Date countersigned:,~, ~, 2003. I APPROVED AS TO FORM: City Attorney Date countersigned: ~. c/, 2003. CITY OF PEARLAND, TEXAS, a home rule municipality Mayor DEVELOPER: BEAZER HOMES TEXAS L.P., a Texas limited partnership Name: -~,~FI (D\~C3 OX amendment to development agrccmcnt DEVELOPMENT AGREEMENT THIS DEVELOPMENT AGREEMENT (this "Agreement") is made and entered into as of May 22, 2000, by and between the CITY OF PEARLAND, TEXAS, a home rule municipality located in the counties of Brazoria, Harris, and Fort Bend, Texas (the "City"), and BEAZER HOMES TEXAS L.P., a Texas limited partnership (the "DeveloPer"), or its assigns, represented herein by its undersigned, duly authorized general partner. RECITALS A. Capitalized terms used in these recitals are defined in Article I, below. B. The Property is currently, or will be after annexation, within the corporate limits of the City. Developers desire to petition the TNRCC to create MUD No. 23 over the Property. The City intends to consent to the creation of MUD No. 23. The Developer and the City also intend to create a PUD over the Property. C. The Developer is the holder of the right to acquire and develop the Property from the owner. The Developer currently intends to develop and improve, in various phases, all or a portion of the Property as a planned residential and general business community centered around a public golf course with single family residential dwelling units, general business development, institutional development, public/community developments, a public golf course, and other uses permitted in conformance with the PUD. D. To facilitate the development of the Property, the City has agreed to take certain actions and to construct, or cause to be constructed, various public improvements. Due to the close proximity of the City Tract, and the adverse impact that certain undesirable land uses would have on the Project, the City has agreed to restrict the development of the neighboring City Tract, through the imposition of certain land use controls. E. This Agreement has been submitted to the City for consideration and review, and the City has taken all actions required to be taken prior to the execution of this Agreement to make the same binding upon the City according to the terms hereof. F. The City, after due and careful consideration, has concluded that the development of the Property as provided for herein will further the growth of the City, improve the environment of the City, increase the assessed valuation of the real estate situated within the City, foster increased economic activity within the City, increase employment opportunities within the City, upgrade public infrastructure within the City, and otherwise be in the best interests of the City by furthering the health, safety, morals and welfare of its residents and taxpayers. C:\WIN DOWS~TEMP~Development Agreement. WPD NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements herein contained, and other good and valuable consideration, the receipt and sufficient of which are hereby acknowledged, the parties hereby agree as follows: ARTICLE I. DEFINITIONS; INCORPORATION OF RECITALS 1.1 Definitions. Capitalized terms used herein, including the recitals hereto, shall have the meanings set forth in this section, unless otherwise defined, or unless the context clearly requires another definition. City means the City of Peadand, Texas, a home rule municipality located in the counties of Brazoria, Harris, and Fort Bend, Texas. City Tract means the approximately 290-acre tract legally described in Exhibit B attached hereto and made a part hereof. Developer means Beazer Homes Texas L.P., a Texas limited partnership. MMA means a master maintenance association, or other similar special-purpose entity, to be created and administered by the City upon petition of the Developer for the purpose of maintaining landscaping and lighting in the rights of way, associated public areas, and adjacent 30-foot setbacks of the Monroe/McHard Road Extension and both Pearland Parkway Extensions A and B. Monroe/McHard Road Extension means that portion of Monroe/McHard Road to be constructed south from Beltway 8, including the "roundabout" to station 120+00 as shown on the "proposed schematic layout for Pearland Parkway" prepared by LAN, Inc. and dated January 11, 2000. MUD No. 23 means Brazoria County Municipal Utility District No. 23, to be created under Article XVI, Section 59 of the Texas Constitution and operated under Chapters 54 and 49 of the Texas Water Code, as amended. Pearland Parkway Extension A means that portion of Pearland Parkway to be constructed south from the "turnabout" to the southern property line of the Property. Pearland Parkway Extension B means that portion of Pearland Parkway to be constructed south from the southern property line of the Property to the existing termination of Pearland Parkway, approximately 2700 feet north of FM 518. C:\W1N DOWS\TEM P~Developmcnt Agreement. WPD -2- Project means the real estate development planned for the Property, as more fully described in Paragraph C of the recitals hereto. Property means the approximately 527-acre tract legally described in Exhibit A attached hereto and made a part hereof. PUD means a Planned Unit Development for the Property adopted pursuant to the City of Pearland Land Use and Urban Development Ordinance. Party orparties means all or any of the City and the Developer, as applicable. TNRCC means the Texas Natural Resource Conservation Commission. 1.2 Recitals incorporated. The representations, covenants and recitations set forth in the recitals to this Agreement are material to this Agreement and are hereby found and agreed to be true and correct, and are incorporated into and made a part hereof as though they were fully set forth in this article. ARTICLE II. COOPERATION Actions of the parties. The parties agree to take such actions, including the execution and delivery of such documents, instruments, petitions and certifications (and, in the City's Case, the adoption of such ordinances and resolutions), as may be necessary or appropriate, from time to time, to carry out the terms, provisions and intent of this Agreement and to aid and assist each other in carrying out said terms, provisions and intent. ARTICLE III. EFFECTIVENESS OF AGREEMENT This Agreement shall become effective from and after its approval and execution by both parties. ARTICLE IV. DEVELOPMENT AND USE OF THE PROPERTY AND CONSTRUCTION OF IMPROVEMENTS 4.1 City's obligations. C:\WIN DOWSXTEMPkDevelopment Agrecmcnt. WPD -3 - (a) The City intends to take the following actions, and agrees to use its best efforts to do SO: (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) Consent to the creation of MUD No. 23 over the Property under the conditions described in Exhibit C, which are the City's standard consent conditions for the creation of municipal utility districts, when requested by the Developer (expected in July or August, 2000); Enter into a Utility Agreement with the Developer and MUD No. 23 in substantially the same form as the Utility Agreement attached to the consent conditions in Exhibit C; Create a PUD over the Property which will provide the appropriate zoning for single family residential, general business, and golf course uses; Create and operate a MMA for the maintenance of landscaping and lighting in rights of way, associated public areas and adjacent 30 foot setbacks of the Monroe/McHard Road Extension and both Pearland Parkway Extensions A and B; Commit to provide the water supply and wastewater treatment capacity ultimately required by the Project. Approval of the preliminary plat for the Property will formalize such commitment. City approval of the preliminary plat binds the City to an ultimate commitment of water and wastewater capacity to serve the Project which is expected to include approximately 1,000 equivalent single family connections; Provide annual water and wastewater connections as required by the Project and as shown on the Developer's projected annual build-out schedules; Work with the Developer to obtain all necessary approvals, permits and consents from Brazoria and Harris Counties with respect to off-tract improvements, the design and construction of the golf course, and other matters necessary to the development of the Project; Allow ingress and egress off of Old Alvin Road for construction purposes until the Monroe/McHard Road Extension is complete; Waive the requirements of the City's Park Dedication Ordinance for the Property. If the portion of the Project developed as a golf course is redeveloped for residential and/or non-residential purposes, then the developer conducting such redevelopment shall be responsible for complying C:\WIN DOWS\TEM P~Development Agreement. WPD -4- with the requirements of the City's Park Dedication Ordinance for the Property; (x) Annex those portions of the Property not currently within the corporate limits of the City, on the petition of the Developer. 4.2 City's obligations relating to the City Tract. (a) The City, in addition to the other obligations described in this Agreement, shall restrict the development of the City Tract as described by this Section 4.2. The City intends to adopt appropriate deed restrictions and restrictive covenants, and agrees to use its best efforts to do so, to ensure that: (i) The City Tract shall be used only for residential, commercial, office; recreational, storm-water retention and medical uses, included services ancillary to such uses, including, without limitation, office buildings, retail stores, shopping centers, hospitals, medical or dental clinics, medical laboratories, churches, places of worship, schools, hotels, motels, and restaurants; (ii) No part of the City Tract shall be used for: adult or sexually-oriented businesses, including the sale, use or exhibition of lewd films or books or other pornographic materials, or live lewd shows; the sale of alcoholic beverages for on-site consumption by a business that derives more than 50% of its gross sales from the sale of alcoholic beverages for on-site consumption; or (c) any other purpose which is in violation of any applicable law, including, without limitation, police, health, sanitary, building, and fire codes; (iii) No non-residential building over two stories (30 feet) on the City Tract will be located closer than 40 feet to the Property. Residential structures, regardless of height, and non-residential structures not greater than two stories (30 feet) may be located closer to the Property, subject to the minimum set-back requirements of the applicable building codes and municipal ordinances; C:\WINDOW$\TEMl:~Development Agreement. WPD -5- 4.3 to do so: (iv) Lighting structures on the City Tract located within 60 feet of the Property shall be designed in such a manner so that the lighting is not directed towards the Property. Developer' s obligations. The Developer intends to take the following actions, and agrees to use its best efforts '(i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x) (xi) (xii) Petition the TNRCC for the creation of MUD No. 23; Prepare and implement the PUD, including the adoption of deed restrictions and other restrictive covenants consistent with the PUD and relevant City regulation; Assemble and purchase the Property for ownership and development; Oversee and construct neighborhood improvements and amenities, such as water, sanitary sewer and drainage facilities and payment of impact fees to the City; Advertise and market the Project; Pay property taxes on the Property; Maintain the Property; Construct the Project and pay associated land planning, legal, architectural, engineering, surveying, and design expenses; Provide the City will projected annual build-out schedules for the purpose of providing water and wastewater capacity to the Project; Provide to the City those documents necessary to coordinate the development of the Project, including golf course conceptual plans, documents which detail time lines and construction schedules and marketing information; Petition the City for the creation of the MMA; Petition the City for annexation of those portions of the Property not currently within the corporate limits of the City. C:\W1N DOWS\TEMPkDevelopment Agrecment. WPD -6- 4.4 Developer and City Obligations relating to the construction of Monroe/McHard Road and Pearland Parkway. (a) The City agrees to construct the Monroe/McHard Road Extension, which will be constructed as a two-lane road, with appropriate landscaping, irrigation and lighting, and shall be constructed in a timeframe agreeable to the City and the Developer. Acknowledging the critical relationship between the completion of the Monroe/McHard Road Extension and the success of the golf course, the City agrees to use its best efforts to complete construction of the Monroe/McHard Road Extension prior to the initial operations of the golf course, but in no case later than two years from the date of this Agreement; (b) The Developer agrees to construct the Pearland Parkway Extension A, which will be constructed as a two-lane road, with appropriate landscaping, irrigation and lighting; (c) The City agrees to expand the two-lane Pearland Parkway Extension A to four lanes when such expansion is deemed necessary by the City's criteria for roads and streets~ (d) The Developer agrees to dedicate the right of way necessary for the widening of Pearland Parkway Extension A to four lanes; (e) The City agrees to construct the Pearland Parkway Extension B, which will be constructed as a two-lane road, with appropriate landscaping, irrigation and lighting, and shall be constructed in a timeframe agreeable to the City and the Developer~ (f) The City agrees to expand the two-lane Pearland Parkway Extension B to four lanes when such expansion is deemed necessary by the City's criteria for roads and streets; (g) The Developer agrees to contribute to the City the sum of money equal to the construction costs of the Pearland Parkway Extension A, to be used by the City for Pearland Parkway ExtenSion B, at the time the City awards a construction contract for such extension; (h) The Developer agrees to contribute to the City 50% of: (i) the cost of acquisition of the right of way for the Pearland Parkway Extension B and (ii) the cost of construction of the bridge for the Barry Rose draining ditch, up to a maximum contribution of $125,000, at the time such fight of way is acquired and the City awards a construction contract for such bridge. At such time as the City approves plats for any other development fronting the Pearland Parkway Extension B, the City agrees to collect from such developers a fee equal to their pro rata share of these costs, as determined by acreage. The City agrees to pay such fees, as collected, to the Developer as reimbursement for the Developer's initial contribution; (i) The Obligation of the City described in this Section 4.4 shall be paid from lawfully available funds that may be currently available in the budget year in which such improvements are C:XWIN DOWSXTE M PkDevelopmcnt Agrecment. WPD -7- (i) The Obligation of the City described in this Section 4.4 shall be paid from lawfully available funds that may be currently available in the budget year in which such improvements are designated to be constructed. The City agrees to use its best efforts to collect revenues, issue bonds, and appropriate funds as may be required to finance such improvements. ARTICLE V AUTHORITY; COVENANTS 5.1 Actions. The City covenants to the Developer and agrees that upon application of the Developer, the City will use its best efforts to the extent permitted by law to take such actions as may be required and necessary to process any amendments, variations, special use approvals and permit applications relating to the Zoning Ordinance and the City's other ordinances, codes and regulations, as may be necessary or proper in order to insure the development of the Property and the Project in accordance with this Agreement and the PUD and to enable the City to execute this Agreement and to carry out fully and perform the terms, covenants, agreements, duties and obligations on its part to be kept and performed as provided by the terms and provisions hereof. 5.2 Powers. (a) The City hereby represents and warrants to Developer that the City has full constitutional and lawful right, power and authority, under currently applicable law, to execute and deliver and perform the terms and obligations of this Agreement, and all of the foregoing have been or will be duly and validly authorized and approved by all necessary City proceedings, findings and actions. Accordingly, this Agreement constitutes the legal, valid and binding obligation of the City, is enforceable in accordance with its terms and provisions and does not require the consent of any other governmental authority. (b) The Developer hereby represents and warrants to the City that Developer has 'full lawful right, power and authority to execute and deliver and perform the terms and obligations of this Agreement and all of the foregoing have been or will be duly and validly authorized and approved by all necessary actions of Developer. Concurrently with Developer's execution of this Agreement, Developer has delivered to the City copies of the resolutions or other corporate actions authorizing the execution of this Agreement and evidencing the authority of the persons signing this Agreement on behalf of Developer to do so. Accordingly, this Agreement constitutes the legal, valid and binding obligation of Developer, and is enforceable in accordance with its terms and provisions. 5.3 Authorized parties. Whenever under the provisions of this Agreement and other related documents and instruments or any supplemental agreements, any request, demand, approval, notice or consent of the City or Developer is required, or the City or Developer is required to agree or to take some action at the request of the other, such request, demand, approval, notice or consent, C:\WIN DOWSXTEM PYDevelopment Agreement. WPD -8- or agreement shall be given for the City, unless otherwise provided herein, by the City Manager or his designee and for Developer by any officer of Developer so authorized (and, in any event, the officers executing this Agreement arb so authorized); and any party shall be authorized to act on any such request, demand, approval, notice or consent, or agreement. ARTICLE VI GENERAL PROVISIONS 6.1 Time of the essence. Time is of the essence of this Agreement. The parties will make every reasonable effort to expedite the subject matters hereof and acknowledge that the successful performance of this Agreement requires their continued cooperation. 6.2 Default. (a) A party shall be deemed in default under this Agreement (which shall be deemed a breach hereunder) if such party fails to materially perform, observe or comply with any of its covenants, agreements or obligations hereunder or breaches or violates any of its representations contained in this Agreement. (b) Before any failure of any party to perform its obligations under this Agreement shall be deemed to be a breach of this Agreement, the party claiming such failure shall notify, in writing, the party alleged to have failed to Perform of the alleged failure and shall demand performance. No breach of this Agreement may be found to have occurred if performance has commenced to the reasonable satisfaction of the complaining party within 3 0 days of the receipt of such notice, subject, however, to the terms and provisions of Section 6.2(c). Upon a breach of this Agreement, the non-defaulting Party, in any court of competent jurisdiction, by an action or proceeding at law or in equity, may secure the specific performance of the covenants and agreements herein contained, may. be awarded damages for failure of performance, or both. Except as otherwise set forth herein, no action taken by a Party pursuant to the provisions of this Section pursuant to the provisions of any other Section of this Agreement shall be deemed to constitute an election of remedies and all remedies set forth in this Agreement shall be cumulative and non-exclusive of any other remedy either set forth herein or available to any Party at law or in equity. Each of the Parties shall have the affirmative obligation to mitigate its damages in the event of a default by the other Party. (c) Notwithstanding anything in this Agreement which is or may appear to be to the contrary, if the performance of any covenant or obligation to be performed hereunder by any Party is delayed as a result of circumstances which are beyond the reasonable control of such Party (which circumstances may include, without limitation, pending or threatened litigation, acts of God, war, acts of civil disobedience, fire or other casualty, shortage of materials, adverse weather conditions [such as, by way of illustration and not limitation, severe rain storms or below freezing temperatures, or tornados] labor action, strikes or similar acts) the time for such performance shall be extended by the C:\WINDOWSXTE MP~Development Agreement. WPD -9- amount of time of such delay. The Party claiming delay of performance as a result of any of the foregoing "force majeure" events shall deliver written notice of the commencement of any such delay resulting from such force majeure event not later than seven days after the claiming Party becomes aware of the same, and if the claiming Party fails to so notify the other Party of the occurrence of a "force majeure" event causing such delay, the claiming Party shall not be entitled to avail itself of the provisions for the extension of performance contained in this Section. 6.3 Personal liability ofpubtic officials. To the extent permitted by State law, no public official or employee shall be personally responsible for any liability arising under or growing out of this Agreement. 6.4 Liability of the Developer, its successors and assignees. Any obligation or liability of the Developer whatsoever that may arise at anytime under this Agreement or any obligation or liability which may be incurred by the Developer pursuant to any other instrument, transaction or undertaking contemplated hereby shall be satisfied, if at all, out of the assets of the Developer only. No obligation or liability shall be personally binding upon, nor shall resort for the enforcement thereof be had to, the property of any of partners, officers, employees, shareholders or agents of the Developer, regardless of whether such obligation or liability is in the nature of contract, tort or otherwise. 6.5 Notices. Any notice sent under this Agreement (except as otherwise expressly required) shall be written and mailed, or sent by rapid transmission confirmed by mailing written confirmation at substantially the same time as such rapid transmission, or personally delivered to an officer of the receiving party at the following addresses: If to the City: City Manager City of Pearland 3519 Liberty Drive Pearland, Texas 77581 with a copy to: City Attorney City of Pearland 3519 Liberty Drive Pearland, Texas 77581 C:\WINDOWS\TEMP~Development Agreement. WPD - 1 O- If to the Developer: Beazer Homes Texas L.P. 10235 West Little York, Ste. 240 Houston, Texas 77040 Attention: Dan Olson with a copies to: Beazer Homes Texas L.P. 10235 West Little York, Ste. 240 Houston, Texas 77040 Attention: Kurt Watzek James A. Boone Vinson & Elkins L.L.P. 2300 First City Tower 1001 Fannin Houston, TX 77002-6760 Fax No.: (713) 615-5523 Each party may change its address by written notice in accordance with this Section, Any communication addressed and mailed in accordance with this Section shall be deemed to be given when so mailed, any notice so sent by rapid transmission shall be deemed to be given when receipt of such transmission is acknowledged, and any communication so delivered in person shall be deemed to be given when receipted for by, or actually received by, an authorized officer of the City or the Developer, as the case may be. 6.6 Amendments and waivers. Any provision of this Agreement may be amended or waived if such amendment or waiver is in writing and is approved by the City Council and the Developer. No course of dealing on the part of the City or the Developer nor any failure or delay by the City or the Developer with respect to exercising any right, power or privilege pursuant to this Agreement shall operate as a waiver thereof, except as otherwise provided in this Section. 6.7 Invalidity. In the event that any of the provisions contained in this Agreement shall be held unenforceable in any respect, such unenforceability shall not affect any other provisions of this Agreement and, to that end, all provisions, covenants, agreements or portions of this Agreement are declared to be severable. 6.8 Successors and assigns. No party to this Agreement shall have the right to assign its rights under this Agreement or any interest herein, without first giving to the other party notice from the assignor of such assignment and acknowledgement of such assignment from the assignee. C:\WINDOW~TEMP'd3evelopmcnt Agrecmcnt. WPD - I 1- 6.9 Exhibits, titles of articles, sections and subsections. The exhibits attached to this Agreement are incorporated herein and shall be considered a part of this Agreement for the purposes stated herein, except that in the event of any conflict between any of the provisions of such exhibits and the provisions of this Agreement, the provisions of this Agreement shall prevail. All titles or headings are only for the convenience of the parties and shall not be construed to have any effect or meaning as to the agreement between the parties hereto. Any reference herein to a section or subsection shall be considered a reference to such section or subsection of this Agreement unless otherwise stated. Any reference herein to an exhibit shall be considered a reference to the applicable exhibit attached hereto unless otherwise stated. 6.10 Applicable law. This Agreement is a contract made under and shall, be construed in accordance with and governed by the laws of the United States of America and the State of Texas, and any actions concerning this Agreement shall be brought in either the Texas State District Courts of Brazoria County, Texas or the United States District Court for the Southern District of Texas. 6.11 Entire agreement. This written agreement represents the final agreement between the parties and may not be contradicted by evidence of prior, contemporaneous, or subsequent oral agreements of the parties. There are no unwritten oral agreements between the parties. 6.12 Term of Agreement. The term of this Agreement shall commence on the date first written above and shall continue until the date which is the earlier of(a) the completion of the Project, the Monroe/McHard Road Extension, Pearland Parkway Extension A and Pearland Parkway Extension B, and the final payment from the City to the Developer pursuant to Section 4.4(h); (b) December 31, 2040; or (c) the early termination of this Agreement pursuant to Section 6.13. 6.13 Early Termination of Agreement. The Developer reserves the right to terminate this Agreement by delivery of written notice to the City stating that the Developer has determined to not purchase the Property. Such determination shall be made by the Developer prior to the expiration of the feasibility period in the earnest money contract between the Developer and the owner of the Property (approximately August 15, 2000). 6.14 No waiver of City standards. Except as may be specifically provided in this Agreement, the City does not waive or grant any exemption to the Property or the Developer with respect to City regulations or ordinances, including without limitation platting, permitting or similar provisions. 6.15 Approval by the parties. Whenever this Agreement requires or permits approval or consent to be hereafter given by any of the parties, the parties agree that such approval or consent shall not be unreasonably withheld or delayed. 6.16 Counterparts. This Agreement may be executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same agreement. C:\WINDOWS~TEMPkDevelopment Agr¢¢ment. WPD - 12- 6.17 Interpretation. This Agreement has been jointly negotiated by the parties and shall not be construed against a party because that Party may have primarily assumed responsibility for the drafting of this Agreement. [Signatures begin on following page] C:\WlNDOW$\TEMP~evelopment Agrecmont. WPD - 13 - IN WITNESS WHEREOF, the Parties have duly executed this Agreement pursuant to all requisite authorizations as of the date first above written. CITY: ATTEST: COUNTERSIGNED: City Manager / Date countersigned: APPROVED AS TO FORM: City Attorney ! Date: CITY OF PEARLAND, TEXAS, a home rule municipality By: .--~---~q,-~ ~~ Mayor DEVELOPER: BEAZER HOMES TEXAS L.P., a Texas limited partnership Name: Title:~¥ .~{ .~. C:\WINDOWS~TEMl~Developrnent Agreement. WPD - 14-