O-2008-3067 Service and Assessment Plan for Lakes at Fairmont Greens

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DEVELOPER'S AGREEMENT This DEVELOPER'S AGREEMENT ("Agreement") is entered into between 65 La Porte, Ltd., their Successors and Assigns (Devel~L1f~ and CITY OF LA PORTE, TItXAS, a Texas Municipal Corporation ("City") on the;)~,r- day of TMvu;try ,20/ <{ Recitals The Developer has proposed development of an approximate 138.41-acre tract in the City of La Porte, as the Lakes at Fairmont Greens, which is referred to as the Tract and defined hereinafter in Article I. Developer plans to develop the Tract, presently zoned PUD, for single family residential use. City approval of this Developer's Agreement shall constitute land use entitlement, subject to the additional requirements outlined herein. Developer shall construct municipal utilities, including streets, a water distribution system, wastewater collection system, and the storm drainage/detention system that will connect with the existing City of La Porte and other regional systems in accordance with development regulations and policies of the applicable regulatory agencies. In addition to municipal utilities, the Developer will construct the following public amenities that will be owned by the City and maintained by the Public Improvement District (PID): 1) 8' wide concrete hike and bike trails along the detention/amenity ponds that will extend from Little Cedar Bayou Park to McCabe Road 2) 6' high masonry sound wall along S.H.146 3) 4' high ornamental iron fence adjacent to the golf course 4) 6' upgrade wood fence with rot board and cap along Wharton Weems Blvd. and McCabe Road 5) school bus stops (approximately 4) 6) landscaping 7) entry monumentation 8) reserves/open space (including Taylor Bayou and detention/amenity ponds) 9) 8' wide pedestrian bridge over Taylor Bayou and 10) a 1-2 acre park north of Wharton Weems Blvd. with play equipment, tables, benches, BBQ pits, trash cans, etc. (As defined in Exhibits F and G attached hereto.) The City has required, and Developer has agreed, that the tract will be developed in general accordance with the Overall Lakes at Fairmont Greens development (in accordance with the General Plan) approved by the City (as defined below and attached hereto as Exhibit C). Such General Plan shall be subject to periodic amendment as each phase of the development is implemented. AGREEMENT NOW THEREFORE, in consideration of the mutual promises, obligations, and benefits contained herein, the City and Developer agree as follows: Developer's Agreement (Final) 011708 Page 1 of 9