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Home My WebLink AboutRes 2011-01-11 Amending Development Agreement with Sherley Partners, LTD RECORDEDCITY OF ANNA, TEXAS RESOLUTION NO.2011-01-11 RESOLUTION #i r AGREEMENT BETWEEN THE CITY OF N SHERLEY PARTNERS, LTD, AND AUTHORIZING i EXECUTE SAME ON OF THE CITY. WHEREAS, the City of Anna, Texas (the "City") and Sherley Partners, LTD (the "Owner") entered into a Chapter 43 Texas Local Government Code Development Agreement (the "Agreement") effective December 14, 2010; and WHEREAS, the City and the Owner desire to amend said Agreement; NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ANNA, TEXAS THAT: The recitals set forth above are incorporated herein for all purposes as if set forth in full. Section 2. Approval of Amendment The City Council hereby approves the Amendment, attached hereto as EXHIBIT 1, incorporated herein for all purposes and authorizes the City Manager to execute same on behalf of the City. PASSED AND APPROVED by the City Council of the City of Anna, Texas on this 25th day of January 2011. ry s s r r' ! t +11 Mayor `tti,,,j 111jj,,,,NathP Wilkison, 1EX OF 01 i '�% * ``'•+� •Oil �y*\ r�frtrJ�rj`y.. ` ;i 4` �41`4�tw Res. 2011-01-11 Amended Developer Agreement-Sherly Partners Page 1 01-25-11 EXHIBIT 1 STATE OF TEXAS COUNTY OF COLLIN CHAPTER 43 TEXAS LOCAL GOVERNMENT CODE DEVELOPMENT AGREEMENT AMENDMENT This Chapter 43 Texas Local Government Code Development Agreement Amendment (this "Amendment"), amends a certain Chapter 43 Texas Local Government Code Development Agreement (the "Agreement") entered into between the signatories to this Amendment effective as of December 14, 2010, and this Amendment is made and agreed to by the City of Anna, Texas (the "City") and Sherley Partners, LTD (collectively, the "Owner") and is effective as of the Z�Yday of 2011. The City and the Owner hereby agree that Section 5 of the Agreement is hereby amended to change the Term of the Agreement from five (5) years to eight (8) years as follows: Section 5. The term of this Agreement (the "Term") is five eight years from the date that the City Manager's signature to this Agreement is acknowledged by a public notary. The Owner, and all of the Owner's heirs, successors and assigns shall be deemed to have filed a petition for voluntary annexation before the end of the Term, for annexation of the Property to be completed on or after the end of the Term. Prior to the end of the Tenn, the City may commence the voluntary annexation of the Property. In connection with annexation pursuant to this section, the Owners hereby waive any vested rights they may have under Section 43.002(a)(2) and Chapter 245 of the Texas Local Government Code that would otherwise exist by virtue of any application, plan, plat or construction any of the owners may submit or initiate during the time between the expiration of this Agreement and the institution of annexation proceedings by the City. The City and the Owner acknowledge and agree that: (1) this Amendment does not alter the effective date of the Agreement; (2) the above -stated modification to the Term is the sole modification to the Agreement made under this Amendment; (3) this Amendment shall not become effective unless and until the Owner fully executes this Amendment and delivers same to the City, said full execution and delivery are required to occur before the expiration of 10 business days after the Council adopts this Amendment in a duly noticed meeting; (4) the failure of the Owner to fully execute and deliver this Amendment as stated within said time period shall render this Amendment null and void and of no effect; and (5) there are no other written or oral representations or understandings that modify the Agreement. 7OF A, TEXAS By: Philip Sanders City Manager, City of Anna, Texas THE STATE OF TEXAS COUNTY OF COLLIN tL. This instrument was acknowledged before me on theicy Of 2011, by Philip Sanders, City Manager, City of Anna, Texas. ANaft J Wilkison -- NoIr Public, Site- of Texas « W Carrivnission Expires Owner I Printed Name: THE STATE F E COUNTY ring invi s instrument was acknowledged before me on thee' of IVWI 2011, by Owner I. U N(5tarVQ �,Stat If Texas is a - — - WWWWW" WANDA L SM" Notary Public State of Texas Comm- Expires 11-15-2014 ISHMA Traet2 SrTUATED bt Coiia Casty. Tan. i tin D. VaaWiedis Swv*N Abatww NiL 937 ietCdb harry. 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