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HomeMy WebLinkAboutRES 042214-P - MUD Hillwood/Wolf RanchRESOLUTION NO. a LJ a ) I LI —f' A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS GRANTING CONSENT TO CREATION OF MUNICIPAL UTILITY DISTRICTS OVER CERTAIN TERRITORY TO BE ANNEXED INTO THE CITY LIMITS OF THE CITY OF GEORGETOWN, TEXAS. WHEREAS, Wolf Legacy, L.P. (the "Owner ") filed the petition attached hereto as Exhibit A (the "Petition "), requesting consent from the City of Georgetown (the "City ") to the creation of two municipal utility districts to be located within the city limits of the City (the "Districts "), said Districts to encompass the land described in the Petition and more particularly described on Exhibit A (the "Land ") attached to the Petition; and WHEREAS, Owner and City intend to enter into one or more agreements that will state the specific conditions applicable to creation of the Districts on the Land and to development of the Land (collectively, the "Definitive Agreements ") which agreements are to be assigned and ratified by the Districts upon their creation; and WHEREAS, Section 54.016 of the Texas Water Code and Section 42.042 of the Local Government Code provide that land may not be included within a district without the municipality's written consent; and WHEREAS, the City desires to consent to the creation of the Districts upon the terms and conditions set forth in this Resolution. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS, THAT: Section 1. All of the matters and facts set out in the preamble hereof are true and correct. Section 2. Subject to the terms and conditions set forth on the attached Exhibit `B" and subject to the City Council's approval of the Definitive Agreements, the City Council of the City of Georgetown, Texas hereby consents to the creation of the Districts on the Land as in -City Districts to be located within the city limits of the City and further consents to the inclusion of the Land into the Districts. Section 3. City's consent given herein is also expressly subject to the requirement that the Owner shall have no authority to commence development on the Land and City shall have no obligation to process applications or requests for development authorizations prior to the City and the Owner and /or District executing each Definitive Agreement. City's consent given herein is also expressly subject to the requirement that each District's Board of Directors must accept the assignment of each Definitive Agreement, ratify and agree to be bound by the terms thereof. Resolution Number: 0 9D-) 1q_? Page 1 of 2 Description: Hillwood / Wolf Ranch MUDs Date Approved: AftlL a00 ap H Ratification and acceptance of each Definitive Agreement shall be the first substantive order of business following the District's organization, confirmation election and other preliminary matters necessary to constitute the District's governing body. A District shall have no authority to issue bonds prior to its ratification and acceptance of each Definitive Agreement. Section 4. This Resolution shall expire and the consent to creation of the Districts granted herein shall become null and void and have no effect immediately upon the occurrence of one or more of the following: a. Owner fails to submit of all of the information required by Section 13.10.040 of the UDC to the City Manager on or before May 16, 2014; or b. Owner and the City fail to execute final Definitive Agreements prior to creation of the Districts by the Texas Commission on Environmental Quality or before October 31, 2014, whichever is earlier; or c. The Texas Commission on Environmental Quality finds that the one or both of the Districts should not be created. Additionally, this Resolution shall expire and the consent herein given shall be automatically revoked on the third anniversary hereof unless the Boards of Directors of the Districts first adopt a resolution accepting, ratifying and adopting the Definitive Agreements. Section 5. City Council officially finds, determines, recites and declares that sufficient written notice of the date, hour, place and subject of this meeting of the City Council was posted at a place convenient to the public at the City Hall of the City for the time required by law preceding this meeting, as required by the Open Meetings Law, Texas Government Code, Chapter 551 and that this meeting has been open to the public as required by law at all times during which this Resolution and the subject matter thereof has been discussed, considered and formally acted upon. Section 6. This Resolution shall be effective immediately upon adoption. PASSED AND APPROVED this the � day of 2014. ST: .i J s' a Brettle, CI y Secretary George G. Garver, Mayor City of Georgetown A VED: fidget Chapman, City A torney Resolution Number: () Y as I''I _p Page 2 of 2 Description: Hillwood / Wolf Ranch MUDS Date Approved: 4P 9 1 L a-a � , 1 PETITION FOR CONSENT TO THE CREATION OF MUNICIPAL UTILITY DISTRICTS TO THE HONORABLE MAYOR AND CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS:. The undersigned, Wolf Legacy, L.P, a Texas limited partnership (the "Petitioner "), acting pursuant to the provisions of Chapters 49 and 54, Texas Water Code, respectfully petitions the City Council of the City of Georgetown, Texas (the "City "), for its written consent to the creation of two municipal utility districts and would show the following: I. The names of the proposed Districts shall be WILLIAMSON COUNTY MUNICIPAL UTILITY DISTRICT NO. 28 and WILLIAMSON COUNTY MUNICIPAL UTILITY DISTRICT NO. 29 (the "Districts "). II. The Districts shall be created and organized under the terms and provisions of Article XVI, Section 59 of the Constitution of Texas and Chapters 49 and 54, Texas Water Code. III. The Districts shall contain an area of approximately 755 acres of land, more or less, situated in Williamson County, Texas. All of the land to be included in the Districts will or is currently within the corporate limits of the City. All of the land proposed to be included may properly be included in the Districts. The land proposed to be included within the Districts is described by metes and bounds in Exhibit A, which is attached hereto and incorporated herein for all purposes (the "Land "). IV. The Petitioner holds fee simple title to the Land, and a majority in value of holders of title to the Land, as indicated by the certificate of ownership of the Williamson Central Appraisal District. V. The Petitioner represents that there are no filed liens on the Land. 472618.DCC VI. The general nature of the work to be done by the Districts at the present time is the design, construction, acquisition, maintenance and operation of a waterworks and sanitary sewer system for domestic and commercial purposes; the construction, acquisition, improvement, extension, maintenance and operation of works, improvements, facilities, plants, equipment and appliances helpful or necessary to provide more adequate drainage for the Districts and to control, abate and amend local storm waters or other harmful excesses of waters; and construction, acquisition, improvement, maintenance and operation of road facilities and park and recreational facilities and such additional facilities, systems, plants and enterprises, as shall be consistent with all of the purposes for which the Districts are created. VII. There is, for the following reasons, a necessity for the above - described work. The Land is urban in nature, is within the growing environs of the City, and is in close proximity to populous and developed sections of Williamson County, Texas. There is not now available within the area, which will be developed for single family residential and commercial uses, an adequate waterworks system, sanitary sewer system, drainage and storm sewer system, road facilities or park and recreational facilities. The health and welfare of the present and future inhabitants of the area and of the territories adjacent thereto require the purchase, design, construction, acquisition, ownership, operation, repair, improvement and extension of an adequate waterworks system, sanitary sewer system, drainage and storm sewer systems, road facilities and park and recreational facilities. A public necessity, therefore, exists for the creation of the Districts, to provide for the purchase, design, construction, acquisition, ownership, operation, repair, improvement and extension of such waterworks system, sanitary sewer system, drainage and storm sewer systems, road facilities and park and recreational facilities to promote the purity and sanitary condition of the State's waters and the public health and welfare of the community. VIII. The undersigned hereby agrees and covenants that if the requested consent to the creation of the Districts is given, the undersigned will adopt and abide by, and will cause the Districts upon its final creation to adopt and abide by, the conditions set forth the City's ordinance consenting to creation of the Districts. IX. A preliminary investigation has been made to determine the cost of the proposed Districts' waterworks system, sanitary sewer system, drainage and storm sewer system, road facilities and park and recreational projects, and it is now estimated by the 472618.DCC -2- Petitioner, from such information as it has at this time, that such cost will be approximately $70,000,000. WHEREFORE, the Petitioner prays that this petition be heard and that the City Council duly pass and approve an ordinance granting the consent to the creation of the Districts and authorizing the inclusion of the Land within the Districts. [EXECUTION PAGE FOLLOWS.] 472618.DOC -3- RESPECTFULLY SUBMITTED this 19-l" day of / 1arc,� 2014. WOLF LEGACY, LP, a Texas Limited Partnership By: Wolf Legacy, GP, LLC, a Texas limited liability company, its general partner By: [ Aw", Name: Iva Wolf cLachlan Title: Manager STATE OF TEXAS § § COUNTY OF i § This instrument was acknowledged before me this � day of a( 2014, by Iva Wolf McLachlan, Manager, of Wolf Legacy GP, LLC, a Texas limited liability company, as general partner of Wolf Legacy, LP, a Texas limited partnership, on behalf of said company and said partnership. =OLDOERP Not ar Public, State of Texas Attachments: Exhibit A - Description of the Land Wolf Petition 3- 18- 14.docx -4- EXHIBIT A (Description of the Land) 472618.DCC rdPAPE- DAWSON ENGINEERS LAND DEVELOPMENT ENVIRONMENTAL TRANSPORTATION WATER RESOURCES SURVEYING FIELD NOTES FOR THE WOLF RESERVE PROPERTY A 118.457 acre, or 5,159,970 square feet more or less, tract of land, being a portion of Tract 2, Parcel 2, a called 162.77 acre tract recorded in Document No. 2013096273 of the Official Public Records of Williamson County, Texas, all of a called 0.67 acre tract recorded in Volume 2236, Pages 127 -130 of the Deed Records of Williamson County, Texas, all of a called 1.1020 acre tract recorded in Document No. 2009090680 of the Official Public Records of Williamson County, Texas, all of a called 1.05 acre tract recorded in Document No. 1997059547 of the Official Public Records of Williamson County, Texas, a portion of a called 1.247 acre tract recorded in Document No. 2013096276 of the Official Public Records of Williamson County, Texas, and all of Tract 3, Document No. 2013096273 of the Official Public Records of Williamson County, Texas, and all of Lot 19, Block 3 of Oak Crest Ranchettes, Unit 3, recorded in Cabinet B, Slide 398 of the Plat Records of Williamson County, Texas, situate in the Orville Perry, Survey, Abstract 10, in the City of Georgetown, Williamson County Texas. Said 118.457 acre tract being more fully described as follows, with bearings based on the North American Datum of 1983 (NA 2011) Epoch 2010.00, from the Texas Coordinate System established for the Central Zone: BEGINNING: At a set t /2" iron rod with yellow cap marked "Pape- Dawson ", a point in the south line of said Oak Creek Ranchettes, Unit 3 as shown by a 10 -foot offset to the residential lots and a point in a northwest line of a called 120 acre tract of land recorded in Volume 232, Pages 578 -579 of the Deed Records of Williamson County, Texas; THENCE: S 44 °33'39" W, along and with a southeast line of said Oak Creek Ranchettes and a northwest line of said called 120 acre tract, a distance of 161.55 feet to a to a set '/2" iron rod with yellow cap marked "Pape- Dawson ", a point in the southeast line of said Oak Creek Ranchettes, a northwest corner of said called 120 acre tract and the northeast corner of Tract 2, Parcel 2, of said called 162.77 acre tract; THENCE: S 48 °02'55" E, departing the southeast line of said Oak Crest Ranchettes, Unit 3 along and with the northeast line of Tract 2, Parcel 2, of said called 162.77 acre tract and a southwest line of said called 120 acre tract, a distance of 437.51 feet to a to a found 60D nail in a cedar tree, a northeast corner of Tract 2, Parcel 2, of said called 162.77 acre tract and a west corner of said called 120 acre tract; AUSTIN / SAN ANTONIO / HOUSTON 1 7800 Shoal Creek Blvd., Suite 220 West Austin, Texas 78757 i p 512.454.8711 F 512.459.8867 www.pape- dawson.com 118.457 Acres Job No. 50790 -00 Page 2of7 THENCE: Along and with an east line of Tract 2, Parcel 2, of said called 162.77 acre tract and a west line of said called 120 acre tract the following calls and distances; S 03 °32'12" E, at a distance of 206.37 feet passing a found 60D nail in cedar tree, continuing for a total distance of 282.39 feet to a set ' /z" iron rod with yellow cap marked "Pape- Dawson "; S 05 °52'05" E, a distance of 395.35 feet to a found 60D nail in a cedar tree; S 00 °53'32" W, a distance of 93.90 feet to a found 60D nail in a cedar tree; S 06 °14'08" W, at a distance of 60.94 feet passing a found 60D nail in a cedar tree, continuing for a total distance of 219.42 feet to a found 60D nail in a cedar tree; S 00 °49'12" E, at a distance of 106.53 feet passing a found 60D nail in a cedar tree, continuing for a total distance of 174.00 feet to a found 60D nail in a cedar tree; THENCE: S 02 °58'29" E, a distance of 110.76 feet to a found 1/2" iron rod with cap marked "Diamond ", a southeast corner of Tract 2, Parcel 2, of said called 162.77 acre tract and a west corner of said called 120 acre tract; THENCE: S 72 °15'50" W, along and with a southeast line of Tract 2, Parcel 2, of said called 162.77 acre tract and a northwest line of said called 120 acre tract, a distance of 380.35 feet to a found 60D nail in a cedar tree, a southeast corner of Tract 2, Parcel 2, said called 162.77 acre tract and a northwest corner of said called 120 acre tract; THENCE: S 65 °01'02" W, along and with a southeast line of Tract 2, Parcel 2, of said called 162.77 acre tract and a northwest line of said called 120 acre tract, a distance of 191.80 feet to a set 1/2" iron rod with yellow cap marked "Pape - Dawson", a southeast corner of Tract 2, Parcel 2, of said called 162.77 acre tract and a northwest corner of said called 120 acre tract; THENCE: S 69 °49'18" W, along and with a southeast line of Tract 2, Parcel 2, of said called 162.77 acre tract and a northwest line of said called 120 acre tract, at a distance of 14.27 feet passing a found '/2" iron rod, the southeast corner of the aforementioned called 0.67 acre tract, continuing along and with a northwest line of said called 120 acre tract and the southeast line of said called 0.67 acre tract, at a distance of 175.08 feet passing a found I /2" iron rod, the southwest PtPAPE- DAWSON ENGINEERS 118.457 Acres Job No. 50790 -00 Page 3 of 7 corner of said called 0.67 acre tract, a point in the southeast line of said called 162.77 acre tract and a point in a northeast line of said called 120 acre tract, from which a found 60D nail in cedar tree bears N 89 °22'26" W, 0.92 feet, continuing along and with a southeast line of Tract 2, Parcel 2, of said called 162.77 acre tract and a northeast line of said called 120 acre tract, for a total distance of 235.10 feet to a set '/2" iron rod with yellow cap marked "Pape - Dawson", a southeast corner of Tract 2, Parcel 2, said called 162.77 acre tract and a northwest corner of said called 120 acre tract; THENCE: S 63 °16'48" W, along and with a southeast line of Tract 2, Parcel 2, of said called 162.77 acre tract and a northwest line of said called 120 acre tract, at a distance of 46.84 feet passing the southeast corner of the aforementioned called 1.1020 acre tract, continuing along and with the southeast line of said called 1.1020 acre tract and a northwest line of said called 120 acre tract, for a total distance of 209.68 feet to a set ' /z" iron rod with yellow cap marked "Pape - Dawson", a south corner of said called 1.1020 acre tract and a northwest corner of said called 120 acre tract; THENCE: S 65 °36'48" W, along and with the southeast line of said called 1.1020 acre tract and a northwest line of said called 120 acre tract, at a distance of 22.45 feet passing the southwest corner of said called 1.1020 acre tract, a point in a southeast line of Tract 2, Parcel 2, of said called 162.77 acre tract and point in a northwest line of said called 120 acre tract, continuing along and with a southeast line of Tract 2, Parcel 2, of said called 162.77 acre tract and a northwest line of said called 120 acre tract, for a total distance of 312.05 feet to a found 1/2" iron rod with cap marked "Forest 1847 ", a southeast corner of Tract 2, Parcel 2, of said called 162.77 acre tract and a northwest corner of said called 120 acre tract; THENCE: S 72 °44'29" W, along and with a southeast line of Tract 2, Parcel 2, of said called 162.77 acre tract and a northwest line of said called 120 acre tract, a distance of 30.60 feet to a southeast corner of Tract 2, Parcel 2, of said called 162.77 acre tract and a northwest corner of said called 120 acre tract, from which a found nail in a cedar tree bears N 76 °33'55" W, 40.33 feet; THENCE: S 42 °39'30" W, along and with a southeast line of Tract 2, Parcel 2, of said called 162.77 acre tract and a northwest line of said called 120 acre tract, at a distance of 836.91 feet passing a found 60D nail in cedar tree, continuing for a total distance of 1497.60 feet to an 18" cedar tree, a southeast corner of Tract 2, Parcel 2, of said called 162.77 acre tract and the northwest corner of said called 120 acre tract; IdPAPE- DAWSON ENGINEERS 118.457 Acres Job No. 50790 -00 Page 4 of 7 THENCE: S 35 °50'41" E, along and with a northeast line of Tract 2, Parcel 2, of said called 162.77 acre tract and the southwest line of said called 120 acre tract, at a distance of 472.22 feet passing a point in the north line of the aforementioned 1.247 acre tract and a south line of Tract 2, Parcel 2, of said called 162.77 acre tract, continuing over and across said called 1.247 acre tract, along and with the southwest line of said called 120 acre tract, at a distance of 636.70 passing a point in the south line of said called 1.247 acre tract, from which a found cotton gin spindle bears N 60 053'45" E, 13.49 feet in a downed tree, continuing along and with a northeast line of Tract 2, Parcel 2, of said called 162.77 acre tract and the southwest line of said called 120 acre tract, for a total distance of 838.03 feet to a set ' /z" iron rod with yellow cap marked "Pape- Dawson ", a point in the northeast line of Tract 2, Parcel 2, of said called 162.77 acre tract and a point in the south line of said called 120 acre tract; THENCE: S 49 °00'14" W, departing the northeast line of Tract 2, Parcel 2, of said called 162.77 acre tract and the south line of said called 120 acre tract, over and across said called 162.77 acre tract, a distance of 1280.89 feet to a set 1 /z" iron rod with yellow cap marked "Pape- Dawson ", a point in the west line of Tract 2, Parcel 2, of said called 162.77 acre tract and a point in the east line of a called 39.17 acre tract recorded in Document No. 2006101010 of the Official Public Records of Williamson County, Texas; THENCE: N 10 °38'56" W, along and with the west line of Tract 2, Parcel 2, of said called 162.77 acre tract and the east line of said called 39.17 acre tract, a distance of 647.30 feet to a to a found 1/2" iron rod, a point in the west line of Tract 2, Parcel 2, of said called 162.77 acre tract, the northeast corner of said called 39.17 acre tract and the southeast corner of a called 7.21 acre tract recorded in Volume 2031, Pages 413 -416 of the Deed Records of Williamson County, Texas; THENCE: N 109733" W, along and with the west line of Tract 2, Parcel 2, of said called 162.77 acre tract and the east line of said called 7.21 acre tract, a distance of 717.79 feet to a to a found 1/2" iron rod, a point in the west line of Tract 2, Parcel 2, of said called 162.77 acre tract, the northeast corner of said called 7.21 acre tract and the southeast corner of a called 12.09 acre tract recorded in Volume 1885, Pages 42 -44 of the Deed Records of Williamson County, Texas; THENCE: N 10 °41'56" W, along and with the west line of Tract 2, Parcel 2, of said called 162.77 acre tract and the east line of said called 12.09 acre tract, at a distance of 539.73 feet passing the northeast corner of said called 12.09 acre tract and the southeast corner of a called 12.84 acre tract recorded in Volume 244, Pages 240 -243 of the Deed Records of Williamson County, Texas, continuing along IdPAPE- DAWSON ENGINEERS 118.457 Acres Job No. 50790 -00 Page 5 of 7 and with the west line of Tract 2, Parcel 2, of said called 162.77 acre tract and the east line of said called 12.84 acre tract for a total distance of 1193.23 feet to a found I /2" iron rod, the northwest corner of Tract 2, Parcel 2, of said called 162.77 acre tract, from which a found 4" iron pipe bears N 28 °47'34" E, 2.78 feet; THENCE: N 83 °37'21" E, along and with a north line of Tract 2, Parcel 2, of said called 162.77 acre tract, a distance of 516.72 feet to a found 1/2" iron rod, a point in the north line of Tract 2, Parcel 2, of said called 162.77 acre tract and the southwest corner of Oak Crest Estates, Unit 1, recorded in Cabinet B, Pages 302 -305 of the Plat Records of Williamson County, Texas, as shown by a 10 -foot offset to the residential lots from which a found 4" Iron Pipe bears N 58 °20'17" W, 2.61 feet and a found 1 /2" iron rod bears N 25 °52'48" W, 10.35 feet, same said rod being the southwest corner of Lot 18, Block A, of said Oak Crest Estates, Unit 1 and the southernmost corner of Lot 17, Block A, of said Oak Crest Estates, Unit 1; THENCE: N 84 °07'13" E, along and with a north line of Tract 2, Parcel 2, of said called 162.77 acre tract and a south line of said Oak Crest Estates, Unit 1, a distance of 220.30 feet to a fence post, a northwest corner of Tract 2, Parcel 2, of said called 162.77 acre tract and a south corner of said Oak Crest Estates, Unit 1 from which a found 1 /z" iron rod bears N 25 °25'51" W, 10.61 feet, the southeast corner of said Lot 18 and the southwest corner of said Lot 19, Block A, of said Oak Crest Estates, Unit 1; THENCE: N 45 °05'23" E, along and with a northwest line of Tract 2, Parcel 2, of said called 162.77 acre tract and the southeast line of said Oak Crest Estates, Unit 1, a distance of 423.88 feet to a found 1 /s" iron rod, a point in the northwest line of Tract 2, Parcel 2, said called 162.77 acre tract, the southeast corner of said Oak Crest Estates, Unit 1 and the southwest corner of Oak Crest Ranchettes, Unit 3, recorded in Cabinet B, Pages 398 -400 of the Plat Records of Williamson County, Texas, from which a found %z" iron rod bears N 44 °52'08" W, 9.88 feet, the southeast corner of Lot 21 of said Oak Crest Estates, Unit 1 and the southwest comer of Lot 1 of said Oak Crest Ranchettes; THENCE: N 45 °07'52" E, along and with the northwest line of Tract 2, Parcel 2, of said called 162.77 acre tract and the southeast line of said Oak Crest Ranchettes, Unit 3, a distance of 1576.47 feet to a set V2" iron rod with yellow cap marked "Pape- Dawson ", a point in the northwest line of Tract 2, Parcel 2, of said called 162.77 acre tract and a point in the southwest line of said Oak Crest Ranchettes, Unit 3, from which a found 1/2" iron rod with cap marked "RPLS 2218" bears FdPAPE- DAWSON ENGINEERS 1 18.457 Acres Job No. 50790 -00 Page 6 of 7 N 58 °11'29" W, 10.29 feet, the east corner of Lot 12 of said Oak Crest Ranchettes, Unit 3, and the south corner of Lot 13 of said Oak Crest Ranchettes, Unit 3; THENCE: N 45 °28'57" E, along and with the northwest line of Tract 2, Parcel 2, of said called 162.77 acre tract and the southeast line of said Oak Crest Ranchettes, Unit 3, a distance of 474.15 feet to a set '/2" iron rod with yellow cap marked "Pape- Dawson ", a point in the northwest line of Tract 2, Parcel 2, of said called 162.77 acre tract and a point in the southeast line of said Oak Creek Ranchettes, Unit 3; THENCE: N 45 °55'15" E, along and with the northwest line of Tract 2, Parcel 2, of said called 162.77 acre tract and the southeast line of said Oak Crest Ranchettes, Unit 3, a distance of 464.98 feet to a set '/2" iron rod with yellow cap marked "Pape- Dawson ", a point in the northwest line of Tract 2, Parcel 2, of said called 162.77 acre tract and a point in the southeast line of said Oak Creek Ranchettes, Unit 3; THENCE: N 58°31'21" W, departing the northwest line of Tract 2, Parcel 2, of said called 162.77 acre tract, over and across said Oak Crest Ranchettes, Unit 3, at a distance of 10.24 feet passing a found 1/2" iron rod, the south corner of said Tract 3, Lot 19 of said Oak Crest Ranchettes, Unit 3 and the east corner of Lot 18 of said Oak Crest Ranchettes, Unit 3, continuing along and with the southwest line of said Tract 3, Lot 19 and the northeast line of said Lot 18 for a total distance of 290.01 feet to a found '/2" iron rod, the west corner of said Lot 19, the north corner of said Lot 18 and the south corner of Lot 20 of said Oak Crest Ranchettes, Unit 3; THENCE: N 41 °35'03" E, along and with the northwest line of said Tract 3, Lot 19 and the southeast line of said Lot 20, a distance of 160.51 feet to a set 1 /2" iron rod with yellow cap marked "Pape- Dawson ", the north corner of said Lot 18, the east corner of said Lot 20 and a point in Ashwood Lane, a public road recorded in said Oak Crest Ranchettes, Unit 3; THENCE: S 62 °48'57" E, along and with a northeast line of said Tract 3, Lot 19 and the southwest right of way line of said Ashwood Lane, a distance of 137.70 feet to a set 1/2" iron rod with yellow cap marked "Pape- Dawson "; THENCE: Southeasterly, along a non - tangent curve to the left, said curve having a radial bearing of N 79 032'54" E, a radius of 40.00 feet, a central angle of 143 °17'48 ", a chord bearing and distance of S 82 °06'00" E, 75.93 feet, an are length of 100.04 PfPAPE- DAWSON ENGINEERS 1 18.457 Acres Job No. 50790 -00 Page 7 of 7 feet to a found '/2" iron rod, a northeast corner of said Tract 3, Lot 19, a southwest corner of Lot 27 of said Oak Crest Ranchettes and a point in the east right of way line of said Ashwood Lane; THENCE: S 61'19'59" E, departing the east right of way line of said Ashwood Lane, along and with the north line of said Tract 3, Lot 19 and the south line of said Lot 27, at a distance of 92.03 feet passing a found '/2" iron rod, the east corner of said Lot 19 and the south corner of said Lot 27, continuing over and across said Oak Crest Ranchettes, Unit 3 for a total distance of 102.43 feet to the POINT OF BEGINNING and containing 118.457 acres in the in the City of Georgetown, Williamson County, Texas. Said tract being described in accordance with a survey made on the ground and a survey map prepared by Pape Dawson Engineers, Inc. under Job No. 50790 -00 by Pape Dawson Engineers, Inc. PREPARED BY: Pape- Dawson Engineers, Inc. DATE: December 24, 2013 REVISED: March 6, 2014 JOB No.: 50790 -00 DOC.ID.: H:\ survey \CIVIL\50790- 00 \Word\256.976 Acre FN.doc TBPE Firm Registration #470 TBPLS Firm Registration #100288 -00 PiPAPE- DAWSON ENGINEERS rdPAPE- DAWSON ENGINEERS LAND DEVELOPMENT ENVIRONMENTAL TRANSP0RTAIIDN WATER RESOURCES SURVEYING FIELD NOTES FOR THE INITIAL CLOSING PROPERTY A 138.521 acre, or 6,033,987 square feet more or less, tract of land, being a portion of Tract 2, Parcel 2, a called 162.77 acre tract recorded in Volume 482, Pages 256 -259 of the Deed Records of Williamson County, Texas, a portion of Tract 2, Parcel 1, a called 202.149 acre tract recorded in Volume 1997, Pages 953 -960 of the Deed Records of Williamson County, Texas, and all of a certain tract of land described in Volume 367, Pages 286 -287 of the Deed Records of Williamson County, Texas (does not form a mathematically closed figure), situate in the Orville Perry, Survey, Abstract 10, in the City of Georgetown, Williamson County Texas. Said 138.521 acre tract being more fully described as follows, with bearings based on the North American Datum of 1983 (NA 2011) Epoch 20 10.00, from the Texas Coordinate System established for the Central Zone: BEGINNING: At a found %" iron rod, a southwest corner of Tract 2, Parcel 1, of said called 202.149 acre tract and the southwest corner of the northwest cutback line of County Road 265, a called 5.252 acre tract recorded in Document No. 2005080398 of the Official Public Records of Williamson County, Texas and Wolf Ranch Parkway, a called 5.772 acre tract recorded in Document No. 2005082790 of the Official Public Records of Williamson County, Texas; THENCE: N 87 °22'15" W, along and with the south line of Tract 2, Parcel 1, of said called 202.149 acre tract and the north right of way line of said County Road 265, a distance of 82.02 feet to a to a set ' /z" iron rod with yellow cap marked "Pape - Dawson"; a southwest corner of Tract 2, Parcel 1, of said called 202.149 acre tract, a point in the north right of way line of said County Road 265 and the southeast corner of said certain tract of land described in Volume 367, Pages 286 -287 of the Deed Records of Williamson County, Texas, THENCE: Along and with the south line of said certain tract of land recorded in Volume 367, Pages 286 -287 and the north right of way line of said County Road 265 the following calls and distances: S 83 °47'16" W, a distance of 688.77 feet to a set ' /z" iron rod with yellow cap marked "Pape- Dawson "; S 80 °37'24" W, a distance of 142.07 feet to a set 1 /i" iron rod with yellow cap marked "Pape- Dawson "; AUSTIN / SAN ANTONIO / HOUSTON I 7800 Shoal Creek B1vd., Suite 220 West Austin, Texas 78757 P 512.454.8711 F 512.459.8867 www.pape - dawson.com 138.521 Acres Job No. 50790 -00 Page 2of5 THENCE: S 75 °47'43" W, along and with the south line of said certain tract of land recorded in Volume 367, Pages 286 -287 of the Deed Records of Williamson County, Texas and the north right of way line of said County Road 265, at a distance of 167.39 feet passing the southwest corner of said certain tract of land recorded in Volume 367, Pages 286 -287 of the Deed Records of Williamson County, Texas and a southeast corner of Tract 2, Parcel 2, of said called 162.77 acre tract, continuing along and with the south line of Tract 2, Parcel 2, of said called 162.77 acre tract and the north right of way line of said County Road 265 for a total distance of 467.03 feet to a found 1/2" iron rod, the southwest corner of Tract 2, Parcel 2, of said called 162.77 acre tract, the southeast corner of a called 39.17 acre tract recorded in Document No. 2006101010 of the Official Public Records of Williamson County, Texas and a point in the north right of way line of said County Road 265; THENCE: N 10 °38'56" W, departing the north right of way line of said County Road 265, along and with the west line of Tract 2, Parcel 2, of said called 162.77 acre tract and the east line of said called 39.17 acre tract, a distance of 1825.79 feet to a set V2" iron rod with yellow cap marked "Pape- Dawson ", a point in the west line of Tract 2, Parcel 2, of said called 162.77 acre tract and a point in the east line of said called 39.17 acre tract; THENCE: N 49 °00'14" E, departing the west line of Tract 2, Parcel 2, of said called 162.77 acre tract and the east line of said called 39.17 acre tract, over and across said called 162.77 acre tract, a distance of 1280.89 feet to a set '/2" iron rod with yellow cap marked "Pape- Dawson ", the southwest line of a called 120 acre tract recorded in Volume 232, Pages 578 -579 of the Deed Records of Williamson County, Texas and the northwest line of the aforementioned Tract 2, Parcel 1, of said called 202.149 acre tract the following calls and distances:, THENCE: S 35 °50'41" E, along and with the northeast line of Tract 2, Parcel 2, of said called 162.77 acre tract and the southwest line of said called 120 acre tract, a distance of 105.15 feet to a found '/2" iron rod, a northeast corner of Tract 2, Parcel 2, said called 162.77 acre tract, the south corner of said called 120 acre tract and a the northwest corner of the aforementioned called 202.149 acre tract; THENCE: Along and with the southeast line of said called 120 acre tract and the northwest line of Tract 2, Parcel 1, of said called 202.149 acre tract the following calls and distances: N 30 °32'29" E, a distance of 411.97 feet to a set '/2" iron rod with yellow cap marked "Pape- Dawson "; PAPE- DAWSON ENGINEERS 138.521 Acres Job No. 50790 -00 Page 3 of 5 N 10 °19'51" E, a distance of 295.55 feet to a found 1/2" iron rod; N 02 °32'14" W, a distance of 46.29 feet to a found 1/2" iron rod; N 18 °51'51" E, a distance of 228.19 feet to a found 1/2" iron rod; N 34 °03'06" E, a distance of 413.71 feet to a found V2" iron rod; S 55 °11'39" E, a distance of 166.87 feet to a fence post; N 54 °31'09" E, a distance of 318.54 feet to a found !/2" iron rod; N 76 °04'35" E, a distance of 71.77 feet to a found 1/2" iron rod; N 66 °17'52" E, a distance of 182.62 feet to a found 1/2" iron rod; N 85 °10'24" E, a distance of 239.95 feet to a found 1 /2" iron rod; S 20 °32'36" E, a distance of 92.74 feet to a found 60D nail in a cedar tree; S 66 °15'16" E, a distance of 44.52 feet to a found 1/2" iron rod; N 76 °34'49" E, a distance of 230.74 feet to a found 1/2" iron rod; N 78'16'29" E, a distance of 170.51 feet to a 10" fence post; THENCE: N 89 050'07" E, a distance of 285.06 feet to a found 'h" iron rod, the southeast corner of said called 120 acre tract, the northeast corner of Tract 2, Parcel 1, of said called 202.149 acre tract and a point in the west line of Lot 2 of The Rivery, Phase 1 recorded in Cabinet X, Pages 193 -196 of the Plat Records of Williamson County, Texas; THENCE: S 12 °22'40" E, along and with the east line of Tract 2, Parcel 1, of said called 202.149 acre tract and the west line of said Lot 2, a distance of 856.55 feet to a found 1/2" iron rod with cap marked "UDG ", a point in the east line of Tract 2, Parcel 1, of said called 202.149 acre tract, the southwest corner of said Lot 2 and a point in the north right of way line of the aforementioned Wolf Ranch Parkway; PAPE- DAWSON �i ENGINEERS 138.521 Acres Job No. 50790 -00 Page 4 of 5 THENCE: S 68 °57'37" W, along and with said north right of way line, a distance of 1043.50 feet to a set 1/2" iron rod with yellow cap marked "Pape- Dawson "; THENCE: Continuing along and with the west right of way line of said Wolf Ranch Parkway, the following calls and distances: Southwesterly, along a tangent curve to the left said curve having radius of 1031.94 feet, a central angle of 67 041'08 ", a chord bearing and distance of S 35 00703" W, 1149.41 feet, an arc length of 1219.07 feet to a set 1/2" iron rod with yellow cap marked "Pape- Dawson "; S 01'16'30" W a distance of 703.24 feet to a set '/2" iron rod with yellow cap marked "Pape- Dawson "; Southeasterly, along a tangent curve to the right said curve having radius of 1967.91 feet, a central angle of 06 °41'32 ", a chord bearing and distance of S 04 037'16" W, 229.73 feet, an arc length of 229.86 feet to a set ''/2" iron rod with yellow cap marked "Pape- Dawson "; Southwesterly, along a reverse curve to the left said curve having radius of 2031.91 feet, a central angle of 10'12'56", a chord bearing and distance of S 02 051'34" W, 361.80 feet, an arc length of 362.28 feet to a set '/2" iron rod with yellow cap marked "Pape- Dawson "; Southeasterly, along a reverse curve to the right said curve having radius of 884.05 feet, a central angle of 03 °12'28 ", a chord bearing and distance of S 00 038'40" E, 49.49 feet, an arc length of 49.50 feet to a point; Southeasterly, along a reverse curve to the left said curve having radius of 1349.75 feet, a central angle of 03 °12'28 ", a chord bearing and distance of S 00 038'40" E, 75.56 feet, an are length of 75.57 feet, to a found 1/2" iron rod; THENCE: S 02'14'54" E, a distance of 177.66 feet to a found cotton gin spindle; IdPAPE- DAWSON ENGINEERS 138.521 Acres Job No. 50790 -00 Page 5 of 5 THENCE: S 39'42'17" W, along and with the southwest line of Tract 2, Parcel 1, of said called 202.149 acre tract and the northwest cutback line of said Wolf Ranch Parkway and the aforementioned County Road 265, a distance of 37.34 feet to the POINT OF BEGINNING and containing 138.521 City of Georgetown, Williamson County, Texas. Said tract being described in accordance with a survey made on the ground and a survey map prepared by Pape Dawson Engineers, Inc. under Job No. 50790 -00 by Pape Dawson Engineers, Inc. PREPARED BY: Pape- Dawson Engineers, Inc. DATE: December 24, 2013 REVISED: March 6, 2014 JOB No.: 50790 -00 DOC.ID.: H:\ survey \CIVIL\50790- 00 \Word\256.976 Acre FN.d TBPE Firm Registration #470 TBPLS Firm Registration #100288-00 PAPE- DAWSON ENGINEERS rdPAPE- DAWSON ENGINEERS LAND DEVELOPMENT ENVIRONMENTAL TRANSPORTATION WATER RESOURCES SURVEYING FIELD NOTES • •7 INITIAL CLOSING PROPERTY A 208.881 acre, or 9,098,845 square feet more or less being a portion of Tract 4, Parcel 1 and the remainder of a called one acre tract of land, Tract 4, Parcel 3 described in conveyance to the Wolf Legacy LP in Special Warranty Deed recorded in Document No. 2013096273 of the Official Public Records of Williamson County, Texas, situate in the Joseph Thompson Survey, Abstract No. 608, Williamson County, Texas, the C. Stubblefield Survey, Abstract No. 558, Williamson County, Texas and the Orville Perry Survey, Abstract No. 10, Williamson County, Texas. Said 208.881 acre tract being more fully described as follows, with bearings based on the Texas Coordinate System established for the Central Zone from the North American Datum of 1983 NAD 83 (NA2011) epoch 2010.00; BEGINNING: At a found 1/2" iron rod, on the north line of a called 457 acre tract recorded in Volume 345, Pages 460 -462 of the Deed Records of Williamson County, Texas, a southeast corner of a 39.713 acre tract recorded in Document No. 2011065725 of the Official Public Records of Williamson County, Texas; THENCE: Along and with the east line of said called 39.713 acre tract, the following bearings and distances: N 19 °22'02" W, a distance of 441.29 feet to a found 1/2" iron rod with a cap marked "Diamond Surveying "; N 25 °08'14" E, a distance of 35.28 feet to a found 1/2" iron rod with a cap marked "Diamond Surveying "; N 69 °54'57" E, a distance of 44.60 feet to a found 1/2" iron rod with a cap marked "Diamond Surveying ", the southwest corner of a called 14.839 acre tract recorded in Document No. 2011065725 of the Official Public Records of Williamson County, Texas, a southeast corner of said 39.713 acre tract, a point of non - tangent curvature; THENCE: Along and with the south line of said called 14.839 acre tract, the following bearings and distances: Northeasterly, along a non - tangent curve to the right, said curve having a radial bearing of S 19 °20'36" E„ a radius of 4895.00 feet, a central angle of 070222 ", a chord bearing and distance of N 74 °10'35" E, 601.02 feet, for an arc length of 601.40 feet to a found 1/2" iron rod with a cap marked "Diamond Surveying ", a point of non - tangency; AUSTIN / SAN ANTONIO / HOUSTON 7800 Shoal Creek Blvd., Suite 220 West Austin, Texas 78757 P 512.454.8711 F 512.459.8867 www.pape- dawson.com 208.881 Acres Job No. 50790 -00 Page 2 of 7 N 77 °42'33" E, a distance of 135.30 feet to a found ' /z" iron rod with a cap marked "Diamond Surveying ", a point of curvature; Northeasterly, along a tangent curve to the left, said curve having a radius of 5045.00 feet, a central angle of 08 °53'04 ", a chord bearing and distance of N 73 °16'01" E, 781.51 feet, for an arc length of 782.29 feet to a found 1/2" iron rod with a cap marked "Diamond Surveying ", a point of tangency; N 68 °49'29" E, a distance of 716.27 feet to a found '/2" iron rod with a cap marked "Diamond Surveying ", a point of curvature; Northeasterly, along a tangent curve to the right, said curve having a radius of 965.00 feet, a central angle of 25 °17'00 ", a chord bearing and distance of N 81 °27'59" E, 422.39 feet, for an arc length of 425.83 feet to a found 1/2" iron rod with a cap marked "Diamond Surveying ", a point of tangency; S 85 °53'31" E, a distance of 408.54 feet to a found '/2" iron rod with a cap marked "Diamond Surveying ", a point of curvature; Northeasterly, along a tangent curve to the left, said curve having a radius of 1115.00 feet, a central angle of 25 °09'30 ", a chord bearing and distance of N 81 °31'44" E, 485.67 feet, for an arc length of 489.59 feet to a found V2" iron rod with a cap marked "Diamond Surveying ", a point of tangency; N 68 °56'59" E, a distance of 448.32 feet to a found '/2" iron rod with a cap marked "Diamond Surveying ", the southeast corner of said 14.839 acre tract; THENCE: N 21 °03'01" W, along and with an east line of said called 14.839 acre tract, a distance of 150.00 feet to a found ' /z" iron rod with a cap marked "Diamond Surveying ", a northeast corner of said called 14.839 acre tract; THENCE: S 68 °56'59" W, along and with a north line of said called 14.839 acre tract, a distance of 307.56 feet to a found ' /z" iron rod with a cap marked "Diamond Surveying ", an angle point of said called 14.839 acre tract; THENCE: N 65 °59'16" W, a distance of 35.63 feet to a found '' /z" iron rod with a cap marked "Diamond Surveying ", an angle point of said called 14.839 acre tract; THENCE: N 20 °55'31" W, along and with an east line of said called 14.839 acre tract, a distance of 349.35 feet to a found ' /z" iron rod with a cap marked "RPLS 2218 ", on the south line of Lot 1 of the First Baptist Church Georgetown Subdivision recorded in Cabinet L, Slides 311 -312 of the Plat Records of Williamson County, Texas, the north line of the aforementioned remaining portion of Tract 4, Parcel 1, a northeast corner of said called 14.839 acre tract; lidPAPE- DAWSON ENGINEERS 208.881 Acres Job No. 50790 -00 Page 3 of 7 THENCE: N 68 °43'14" E, along and with the south line of said Lot 1, the north line of said remaining portion of Tract 4, Parcel 1, at a distance of 233.19 feet passing a found cotton gin spindle, continuing a total distance of 332.90 feet to a set 1/2" iron rod with yellow cap marked "Pape- Dawson ", a point in the south line of said Lot 1 and the northwest comer of a called 10.762 acre tract recorded in Document No. 2014002634 of the Official Public Records of Williamson County, Texas; THENCE: S 20 °49'40" E, departing the south line of said Lot 1, along and with the west line of said called 10.762 acre tract, a distance of 325.81 feet to a found 1/2" iron rod with cap marked "RPLS- 5784 ", a southwest corner of said called 10.762 acre tract; THENCE: N 69 °22'49" E, along and with a south line of said called 10.762 acre tract, a distance of 50.20 feet to a found 1/2" iron rod with cap marked "RPLS- 5784 ", a southwest corner of said called 10.762 acre tract; THENCE: S 20 °38'49" E, along and with a west line of said called 10.762 acre tract, a distance of 50.00 feet to a found 1/2" iron rod with cap marked "RPLS- 5784 ", a southwest corner of said called 10.762 acre tract; THENCE: N 69 °2345" E, along and with the south line of said called 10.762 acre tract, a distance of 1017.48 feet to a found cotton gin spindle, a south corner of said called 10.762 acre tract; THENCE: N 84 °20'49" E, along and with a south line of said called 10.762 acre tract, a distance of 217.66 feet to a found 1/2" iron rod with cap marked "RPLS- 5784 ", the southeast corner of said called 10.762 acre tract; THENCE: Along and with the east line of said called 10.762 acre tract the following bearings and distances: N 40 °47'17" W, a distance of 33.67 feet to a found %2" iron rod with cap marked "RPLS- 5784 "; N 36 020'38" W, a distance of 35.87 feet to a found 1 /z" iron rod with cap marked "RPLS- 5784 "; N 50 °41'26" W, a distance of 39.70 feet to a found 1/2" iron rod with cap marked "RPLS- 5784 "; rtPAPE- DAWSON ENGINEERS 208.881 Acres Job No. 50790 -00 Page 4of7 N 57 °25'53" W, a distance of 51.55 feet to a found 1/2" iron rod with cap marked "RPLS- 5784 "; N 60 °49'14" W, a distance of 32.57 feet to a found ' /z" iron rod with cap marked "RPLS- 5784 "; N 66 °05'45" W, a distance of 73.07 feet to a found '/2" iron rod with cap marked "RPLS- 5784 "; N 04 °30'23" W, a distance of 28.93 feet to a found MAG nail; N 00 °23'47" E, a distance of 28.76 feet to a found cotton gin spindle; N 36 °43'28" W, a distance of 37.94 feet to a found %2" iron rod with cap marked "RPLS- 5784 "; N 64 °38'18" W, a distance of 82.20 feet to a found '/2" iron rod with cap marked "RPLS- 5784 "; N 48 052'07" W, a distance of 37.82 feet to a found 1/2" iron rod with cap marked "RPLS- 5784 "; THENCE: N 17 °59'09" W, a distance of 29.90 feet to a found '/2" iron rod with cap marked "RPLS -5784, in the south line of Legend Oaks, Section II recorded in Cabinet 1, Slides 269 -270 of the Plat Records of Williamson County, Texas "; THENCE: Along and with the south line of said Legend Oaks, Section II Subdivision, a north line of the remaining portion of said called Tract 4, Parcel 1 the following bearings and distances: N 69 °33'25" E, a distance of 242.05 feet to a found '/2" iron rod, the southeast corner of Lot 5 of said Legend Oaks Section II Subdivision and the southwest corner of Lot 4 of said Legend Oaks Section II Subdivision; THENCE: N 69 °06'54" E, a distance of 707.07 feet to a found 1/2" iron rod, the southwest corner of the aforementioned remainder of a called one acre tract of land, Tract 4, Parcel 3, the southeast corner of Lot 1 of the said Legend Oaks Section II Subdivision; pfPAPE- DAWSON ENGINEERS 208.881 Acres Job No. 50790 -00 Page 5 of 7 THENCE: N 12 °15'57" W, departing the north line of said remaining portion of Tract 4, Parcel 1, along and with the east line of Lot 1 of the said Legend Oaks Section II Subdivision, the west line of said remainder of a called one acre tract of land, Tract 4, Parcel 3, a distance of 147.41 feet to a set 1/2" iron rod with a cap marked "Pape- Dawson ", on the south right -of -way line of State Highway No. 29 (University Avenue), a variable width right -of -way; THENCE: N 87 °42'48" E, departing the east line of Lot 1 of said Legend Oaks Section II Subdivision, along and with the south right -of -way line of said State Highway No. 29 (University Avenue), a distance of 277.88 feet to a found 1/2" iron rod with a cap marked "RPLS 5786 ", the northwest corner of a called 1.2495 acre tract recorded in Document No. 2011070959 of the Official Public Records of Williamson County, Texas; THENCE: S 02 °19'14" E, departing the south right -of -way line of said State Highway No. 29 (University Avenue), along and with the west line of said called 1.2495 acre tract, at a distance of 60.3 feet passing through the south line of said remainder of a called one acre tract of land, Tract 4, Parcel 3 continuing along and with the west line of said called 1.2495 acre tract, for a total distance of 229.95 feet to a found 1/2" iron rod with a cap marked "RPLS 5784 ", the southwest corner of said called 1.2495 acre tract; THENCE: N 87 °37'12" E, along and with the south line of said called 1.2495 acre tract, a distance of 240.19 feet to a found 1/2" iron rod with a cap marked "RPLS 5784 ", on the west right -of -way line of. Wolf Ranch Parkway, dedicated in the Wolf Ranch Subdivision recorded Cabinet Y, Slides 112 -115 of the Plat Records of Williamson County, Texas, the southeast corner of said called 1.2495 acre tract; THENCE: S 02 °22'12" E, along and with the west right -of -way line of Wolf Ranch Parkway, a distance of 84.72 feet to a found 1/2" iron rod with a cap marked "Bury Partners ", the southwest corner of said Wolf Ranch Parkway; THENCE: N 87 °37'48" E, along and with the south right -of -way line of said Wolf Ranch Parkway, at a distance of 109.45 feet passing a found %2" iron rod with a cap marked "Bury Partners ", the southwest corner of Lot 7, Block A of the said Wolf Ranch Subdivision, the southeast corner of Wolf Ranch Parkway, continuing along and with the south line of said Lot 7 for a total distance of 311.40 feet to a found " +" in concrete, on the west line of Lot 3, Block A of the said Wolf Ranch Subdivision, the southeast corner of said Lot 7; IdPAPE- DAWSON ENGINEERS 208.881 Acres Job No. 50790 -00 Page 6 of 7 THENCE: S 02 °22'12" E, along and with the west line of said Wolf Ranch Subdivision, a distance of 1835.97 feet to a point on the northwest line of Lot 2 of the Resubdivision of San Gabriel Heights Section Six recorded in Cabinet P, Slides 247 -250 of the Plat Records of Williamson County, Texas, the southeast line of said remaining portion of said Tract 4, Parcel 1, said calculated point being in the centerline of the meanders of the San Gabriel River; THENCE: Along and with the northwest line of said Lot 2, the southeast line of said remaining portion of Tract 4, Parcel 1, the centerline of the meanders of said San Gabriel River, the following bearings and distances: S 67 °07'22" W, a distance of 129.22 feet to a calculated point; S 58 °17'39" W, a distance of 150.52 feet to a calculated point; S 46 °28'27" W, at a distance of 143.65 feet passing the north corner of Lot 1 of the said Resubdivision of San Gabriel Heights Section Six, continuing along and with the said centerline of the meanders of the San Gabriel River, the southeast line of said remaining portion of a called 412 acre tract, the northwest line of said Lot 1, for a total distance of 404.16 feet to a calculated point; THENCE: Continuing along and with the centerline of the meanders of said San Gabriel River, the southeast line of the remaining portion of Tract 4, Parcel 1, the northwest line of said Lot 1, the following bearings and distances: S 38 °00'53" W, a distance of 243.41 feet to a calculated point; S 29 °20'27" W, a distance of 69.63 feet to a calculated point, on the northeast corner of a called 457 acre tract recorded in Volume 345, Pages 460 -462 of the Deed Records of Williamson County, Texas; THENCE: Departing the northwest line of said Lot 1, the centerline of the meanders of said San Gabriel River, along and with a north line of said called 457 acre tract, a south line of said remaining portion of Tract 4, Parcel 1, the following bearings and distances: N 67 °00'00" W, a distance of 173.51 feet to a set V2" iron rod with a yellow cap marked "Pape- Dawson "; N 00 °30'00" W, a distance of 121.39 feet to a set 1/2" iron rod with a yellow cap marked "Pape- Dawson "; N 67 °45'00" W, a distance of 181.94 feet to a set 1/2" iron rod with a yellow cap marked "Pape- Dawson ", near an angle point in a barbed wire fence; S 09 °30'00" W, along and with said barbed wire fence, a distance of 212.00 feet to a barbed wire fence corner post, at the east end of a 12 -foot gate; IdPAPE- DAWSON ENGINEERS 208.881 Acres Job No. 50790 -00 Page 7of7 THENCE: N 81 °58'08" W, continuing along and with said barbed wire fence, a distance of 1957.84 feet to a barbed wire fence corner post, at the east end of a 15 -foot gate; THENCE: S 69 °16'40" W, continuing along and with said barbed wire fence, a distance of 2232.31 feet to a set 'h" iron rod with a yellow cap marked "Pape- Dawson ", near a barbed wire fence corner post, an interior corner of said called 457 acre tract, a southwest corner of said remaining portion of Tract 4, Parcel 1; THENCE: N 30 °17'00" W, continuing along and with said barbed wire fence, an east line of said called 457 acre tract, a west line of said remaining portion of Tract 4, Parcel 1, a distance of 731.62 feet to a found 60D nail on a barbed wire fence corner post, an angle point of said called 457 acre tract and said remaining portion of said Tract 4, Parcel 1 THENCE: N 60 °39'53" W, continuing along and with said barbed wire fence a distance of 211.68 feet to a found 60D nail on a barbed wire fence corner post, an angle point of said called 457 acre tract and said remaining portion of Tract 4, Parcel 1; THENCE: S 70 °04'01" W, along and with a south line of said remaining portion of Tract 4, Parcel 1, a north line of said called 457 acre tract, a distance of 721.80 feet to the POINT OF BEGINNING and containing 208.881 acres in Williamson County, Texas. Said tract being described in accordance with a survey made on the ground and a survey description and map prepared under job number 50790 -00 by Pape- Dawson Engineers, Inc. PREPARED BY: Pape- Dawson Engineers, Inc. DATE: December 24, 2013 REVISED: March 6, 2014 Job No.: 50790 -00 DOC.ID. N:\AUSTIN\50790 -00 \Word \TRACT4.docx TBPE Firm Registration #470 TBPLS Firm Registration #100288 -00 P1PAPE- DAWSON ENGINEERS IdPAPE- DAWSON ENGINEERS LAND DEVELOPMENT ENVIRONMENTAL TRANSPORTATION WATER RESOURCES SURVEYING FIELD NOTES FOR INITIAL CLOSING PROPERTY A 195.611 acre, or 8,520,808 square feet more or less, tract of land being comprised of Tract 1, a remaining portion of a called 291.09 acre tract and of Tract 4, Parcel 2, the remainder of called 11 acre tract, both described in conveyance to the Wolf Legacy, LP in Special Warranty Deed recorded in Document No. 2013096273 of the Official Public Records of Williamson County, Texas, situate in the Joseph Thompson Survey, Abstract No. 608, Williamson County, Texas and the Isaac Donagan Survey, Abstract No. 178, Williamson County, Texas. Said 195.611 acre tract being more fully described as follows, with bearings based on the Texas Coordinate System established for the Central Zone from the North American Datum of 1983 NAD 83 (NA2011) epoch 2010.00; BEGINNING: At a found 1/2" iron rod with a cap marked "Diamond Surveying ", on the south right -of -way line of State Highway No. 29 (University Avenue), a variable width right -of -way, a point in the north line of said remaining portion of Tract 1 and the northwest corner of a 39.713 acre tract recorded in Document No. 2011065725 of the Official Public Records of Williamson County, Texas; THENCE: Along and with the west line of said called 39.713 acre tract, the following bearings and distances: S 071543" W, a distance of 166.21 feet to a found 1/2" iron rod with a cap marked "Diamond Surveying ", a point of non - tangent curvature; Southeasterly, along a non - tangent curve to the right, said curve having a radial bearing of S 071542" W, a radius of 474.00 feet, a central angle of 69'04'17", a chord bearing and distance of S 48 °12'09" E, 537.44 feet, for an arc length of 571.42 feet to a found %2" iron rod with a cap marked "Diamond Surveying ", a point of tangency; S 14 °07'45" E, a distance of 1148.34 feet to a found 1/2" iron rod with a cap marked "Diamond Surveying "; S 09 °34'47" E, a distance of 885.18 feet to a found 1/2" iron rod with a cap marked "Diamond Surveying "; S 175124" E, a distance of 243.14 feet to a found 1/2" iron rod with a cap marked "Diamond Surveying "; AUSTIN / SAN ANTONIO / HOUSTON I 780o Shoal Creek Blvd.. Suite 220 West Austin, Texas 78757 P 512.454.8711 F 512.459.8867 www.pape- dawson.com 195.611 Acres Job No. 50790 -00 Page 2 of 4 S 24 °08'36" W. a distance of 35.68 feet to a found '/2" iron rod with a cap marked "Diamond Surveying "; S 69 °08'36" W, a distance of 17.22 feet to a found t /2" iron rod with a cap marked "Diamond Surveying "; S 20 °51'24" E, a distance of 144.70 feet to a set 1/2" iron rod with a yellow cap marked Pape- Dawson; S 20 °51'24" E, a distance of 5.30 feet to a found 1/2" iron rod, on the north line of the aforementioned remaining portion of Tract 4, Parcel 1; N 69 °08'36" E, a distance of 28.30 feet to a found 1 /2" iron rod with a cap marked "Diamond Surveying "; S 65 °51'24" E, a distance of 38.98 feet to a found cotton spindle, a point of non - tangent curvature; THENCE: Southeasterly, along a non - tangent curve to the left, said curve having a radial bearing of N 72 °16'51" E, a radius of 2584.00 feet, a central angle of 09 °33'38 ", a chord bearing and distance of S 22 °29'58" E, 430.68 feet, for an arc length of 431.18 feet to a found 1/2" iron rod, on the north line of a called 457 acre tract recorded in Volume 345, Pages 460 -462 of the Deed Records of Williamson County, Texas, the south line of said remaining portion of a called 412 acre tract, the southwest corner of said 39.713 acre tract; THENCE: S 70 °04'01" W, along and with the north line of said called 457 acre tract, the south line of said remaining portion of Tract 4, Parcel 1, said called 412 acre tract, a distance of 1209.21 feet to a found 60D nail on a barbed wire fence corner post, an interior corner of said called 457 acre tract, the southwest corner of said remaining portion of a said Tract 4, Parcel 1; THENCE: N 19 °24'13" W, along and with an east line of said called 457 acre tract, the west line of said Tract 4, Parcel 1, said remaining portion of said Tract 4, Parcel 1, a distance of 437.42 feet to a found 60D nail on a barbed wire fence corner post, on the south line of the aforementioned remaining portion of a called 291.09 acre tract, an exterior comer of said called 457 acre tract, the northwest corner of said remaining portion of said Tract 4, Parcel 1; THENCE: S 68 °40'44" W, along and with the south line of said remaining portion of Tract 1, said called 291.09 acre tract, the north line of said called 457 acre tract, a distance of 1061.07 feet to a found 5/8" iron rod, the southeast corner of a called 307.848 acre tract recorded in Document No. 2002093325 of the Official Public Records of Williamson County, Texas, the southwest corner of said remaining portion of a called 291.09 acre tract; IdPAPE- DAWSON ENGINEERS 195.611 Acres Job No. 50790 -00 Page 3 of 4 THENCE: Departing the north line of said called 457 acre tract, along and with the east line of said called 307.848 acre tract, the west line of said remaining portion of Tract 1, said called 291.09 acre tract, the following calls and distances: N 21 °41'13" W, a distance of 388.51 feet to a set 1/2" iron rod with a yellow cap marked "Pape- Dawson; • 20 °56'40" W, a distance of 911.32 feet to a found 1/2" iron rod; • 21 °59'10" W, a distance of 450.40 feet to a found 1/2" iron rod; • 19 °38'57" W, a distance of 207.85 feet to a found 5/8" iron rod; • 24 °55'37" W, a distance of 87.95 feet to a set 1/2" iron rod with a yellow cap marked "Pape- Dawson; • 21 °15'48" W, a distance of 393.19 feet to a found 1/2" iron rod; • 21'10'18" W, a distance of 692.23 feet to a found nail on a barbed wire fence comer post, a southwest comer of a called 10.550 acre tract recorded in Document No. 2007014835 of the Official Public Records of Williamson County, Texas, the northwest corner of Tract 1, the remaining portion of said called 291.09 acre tract; THENCE: Departing the east line of said called 307.848 acre tract, along and with the south line of said called 10.550 acre tract, the north line of Tract 1, the remaining portion of said called 291.09 acre tract, the following calls and distances: N 64 °28'23" E, a distance of 229.27 feet to a found 1/2" iron rod; THENCE: N 45 °02'06" E, a distance of 857.92 feet to a set %2" iron rod with a yellow cap marked "Pape- Dawson ", on the south right -of -way line of the aforementioned State Highway No. 29 (University Avenue), the northeast corner of said called 10.550 acre tract; THENCE: Continuing along and with the north line of Tract 1, the remaining portion of said called 291.09 acre tract, the south right -of -way line of said State Highway No. 29 (University Avenue), the following bearings and distances: N 73 °28'41" E, a distance of 79.22 feet to a set 1/2" iron rod with a yellow cap marked "Pape- Dawson, a point of curvature; Northeasterly, along a tangent curve to the right, said curve having a radius of 2814.79 feet, a central angle of 23 °47'30 ", a chord bearing and distance of N 85 022'26" E, 1160.44 feet, for an arc length of 1168.82 feet to a set 1/2" iron rod with a yellow cap marked "Pape- Dawson, a point of tangency, from which a found Texas Department Transportation highway monument (Type 1) bears S 22 °04'40" W a distance of 3.7 feet; PtPAPE- DAWSON ENGINEERS 195.61 1 Acres Job No. 50790 -00 Page 4 of 4 THENCE: S 82 °43'49" E, a distance of 232.02 feet to the POINT OF BEGINNING and containing 195.611 acres in Williamson County, Texas. Said tract being described in accordance with a survey made on the ground and a survey description and map prepared under job number 50790 -00 by Pape- Dawson Engineers, Inc. PREPARED BY: Pape- Dawson Engineers, Inc. DATE: December 24, 2013 REVISED: March 6, 2014 Job No.: 50790 -00 DOC.ID. N:\AUSTIN\50790 -00 \Word \TRACT3.docx TBPE Firm Registration #470 TBPLS Firm Registration #100288 -00 pfPAPE- DAWSON ENGINEERS rjPAPE- DAWSON ENGINEERS LAND DEVELOPMENT ENVIRONMENTAL TRANSPORTATION WATER RESOURCES SURVEYING FIELD NOTES •1 INITIAL CLOSING PROPERTY A 88.284 acre, or 3,845,661 square feet more or less, tract of land being comprised of Tract 1, a remaining portion of a called 291.09 acre tract and of Tract 4, Parcel 2, the remainder of called 11 acre tract, both described in conveyance to the Wolf Legacy, LP in Special Warranty Deed recorded in Document No. 2013096273 of the Official Public Records of Williamson County, Texas, situate in the Isaac Donagan Survey, Abstract No. 178, Williamson County, Texas. Said 88.284 acre tract being more fully described as follows, with bearings based on the Texas Coordinate System established for the Central Zone from the North American Datum of 1983 NAD 83 (NA2011) epoch 2010.00; BEGINNING: At a found 1/2" iron rod with a cap marked "Diamond Surveying ", on the south right -of -way line of State Highway No. 29 (University Avenue), a variable width right -of -way, the northwest corner of a called 39.713 acre tract recorded in Document No. 2011065725 of the Official Public Records of Williamson County, Texas THENCE: S 82 °43'49" E, along and with the south right -of -way line of said State Highway No. 29 (University Avenue), the north line of said remainder of Tract 4, Parcel 2, a distance of 1854.16 feet to a found 1 /i" iron rod, the northwest corner of Lot 30, Block A, of the Legend Oaks Subdivision recorded in Cabinet F, Slides 264 -265 of the Plat Records of Williamson County, Texas, the northeast corner of said remainder of Tract 4, Parcel 3; THENCE: S 15 °22'51" W, along and with the west line of said Lot 30, the east line of said remainder of Tract 4, Parcel 2, at a distance of 22.7 feet passing the northwest corner of said Tract 1, continuing along and with the west line of said Lot 30, the east line of said remaining portion of Tract 1, the remaining portion of said called 291.09 acre tract, for a total distance of 51.27 feet to a found t /z" iron rod, an angle point of said Lot 30 and said Tract 1; THENCE: Along and with the west line of said Legend Oaks Subdivision, the east line of said Tract 1, the following bearings and distances: S 05 °31'39" E, a distance of 594.69 feet to a set 1/2" iron rod with a yellow cap marked "Pape- Dawson "; S 06 °59'39" E, a distance of 444.33 feet to a set 1/2" iron rod with a yellow cap marked "Pape- Dawson "; AUSTIN / SAN ANTONIO / HOUSTON 7800 Shoal Creek B1vd., Suite 220 West Austin, Texas 78757 P 512.454.8711 F 512.459.8867 www.pape- dawson.com 88.284 Acres Job No. 50790 -00 Page 2 of 3 S 09 °31'09" E, a distance of 344.44 feet to a set 1/2" iron rod with a yellow cap marked "Pape- Dawson "; S 13 °35'39" E, a distance of 330.97 feet to a found 1 /2" iron rod, on the north line of a called 14.839 acre tract recorded in Document No. 2011065725 of the Official Public Records of Williamson County, Texas, the common rear corner of Lot 17 and 18, Block A of the said Legend Oaks Subdivision and the southeast corner of Tract 1; THENCE: Along and with the north line of said 14.839 acre tract, the following bearings and distances: S 68 °55'55" W, a distance of 65.88 feet to a found 1/2" iron rod, a point of non - tangent curvature; Northwesterly, along a non - tangent curve to the right, said curve having a radial bearing of N 21'10'30" W, a radius of 4895.00 feet, a central angle of 08 °53'04 ", a chord bearing and distance of S 73 016'02" W, 758.27 feet, for an arc length of 759.03 feet to a found 1/2" iron rod with a cap marked "Diamond Surveying ", a point of tangency; S 77 °42'34" W, a distance of 135.30 feet to a found 1/2" iron rod with a cap marked "Diamond Surveying ", a point of non - tangent curvature; Along a non - tangent curve to the left, said curve having a radial bearing of S 12 °18'25" E, a radius of 5045.00 feet, a central angle of 07 °03'18 ", a chord bearing and distance of S 74 °09'56" W, 620.82 feet, for an arc length of 621.22 feet to a found 1/2" iron rod with a cap marked "Diamond Surveying ", a northwest corner of the aforementioned 39.713 acre tract, a northwest corner of said 14.839 acre tract, a northeast corner of said called 39.713 acre tract and a point of non - tangency; THENCE: Along and with the east line of said 39.713 acre tract, the following bearings and distances: S 69 °56'39" W, a distance of 44.65 feet to a found 1 /2" iron rod with a cap marked "Diamond Surveying "; N 64 °51'46" W, a distance of 35.63 feet to a found 1/2" iron rod with a cap marked "Diamond Surveying "; N 19 °10'45" W, a distance of 904.13 feet to a found %2" iron rod with a cap marked "Diamond Surveying "; N 13 °24'04" W, a distance of 862.15 feet to a found %2" iron rod with a cap marked "Diamond Surveying "; PIPAPE- DAWSON ENGINEERS 88.284 Acres Job No. 50790 -00 Page 3 of 3 N 07 °40'14" W, a distance of 167.52 feet to a found ''/2" iron rod with a cap marked "Diamond Surveying ", N 13 °40'01" W, a distance of 348.33 feet to a found 1/2" iron rod with a cap marked "Diamond Surveying ", a point of curvature; Northeasterly, along a tangent curve to the right, said curve having a radius of 45.00 feet, a central angle of 110 °55'44 ", a chord bearing and distance of N 41047'51 " E, 74.14 feet, for an arc length of 87.12 feet to a found '/2" iron rod with a cap marked "Diamond Surveying ", a point of tangency; S 82'44'17" E, a distance of 50.00 feet to a found '/2" iron rod with a cap marked "Diamond Surveying "; THENCE: N 07 °15'43" E, at a distance of 49.8 feet passing the south line of the aforementioned remainder of Tract 4, Parcel 2, said called 11 acre tract, the north line of said Tract 1, the remaining portion of said called 291.09 acre tract, continuing along and with the east line of said 39.713 acre tract, for a total distance of 174.11 feet to the POINT OF BEGINNING and containing 88.284 acres in Williamson County, Texas. Said tract being described in accordance with a survey made on the ground and a survey description and map prepared under job number 50790 -00 by Pape- Dawson Engineers, Inc. PREPARED BY: Pape- Dawson Engineers, Inc. DATE: December 24, 2013 REVISED: March 6, 2014 Job No.: 50790 -00 DOC.ID. N:\AUSTINV0790 -00 \Word \TRACT2.docx TBPE Firm Registration #470 TBPLS Firm Registration #100288 -00 1tPAPE- DAWSON ENGINEERS rdPAPE- DAWSON ENGINEERS LAND DEVELOPMENT ENVIRONMENTAL TRANSPORTATION WATER RESOURCES SURVEYING FIELD NOTES FOR INITIAL CLOSING PROPERTY A 5.218 acre, or 227,303 square feet more or less, tract of land out of the remaining portion of Tract 4, Parcel 1, a called 412 acre tract described in conveyance to Wolf Legacy LP in Special Warranty Deed recorded in Document No. 2013096273 of the Official Public Records of Williamson County, Texas, situate in the Joseph Thompson Survey, Abstract No. 608, Williamson County, Texas. Said 5.218 acre tract being more fully described as follows, with bearings based on the Texas Coordinate System established for the Central Zone from the North American Datum of 1983 NAD 83 (NA2011) epoch 2010.00; BEGINNING: At a found 1/2" iron rod with a cap marked "Diamond Surveying ", on the south line of Lot 14, Block A of the Legend Oaks Subdivision recorded in Cabinet F, Slides 264 -265 of the Plat Records of Williamson County, Texas, the north line of said Tract 4, Parcel 1, the remaining portion of said called 412 acre tract, a point of curvature in north line of a called 14.839 acre tract recorded in Document No. 2011065725 of the Official Public Records of Williamson County, Texas; THENCE: N 68 °49'45" E, along and with the south line of said Legend Oaks, the north line of Tract 4, Parcel 1, the remaining portion of said called 412 acre tract, at a distance of 159.1 feet passing a found 1 /z" iron rod, at the southwest corner of Lot 1 of the Georgetown Church of Christ Subdivision recorded in Cabinet M, Slides 186 -187 of the Plat Records of Williamson County, Texas, southeast corner of Lot 13, Block A of the said Legend Oaks Subdivision, continuing along and with the north line of said Tract 4, Parcel 1, the remaining portion of said called 412 acre tract, the south line of said Lot 1, for a total distance of distance of 930.52 feet to a set 1/2" iron rod with a yellow cap marked "Pape - Dawson, an angle point of said Lot 1; THENCE: N 68 °43'14" E, continuing along and with the north line of said Tract 4, Parcel 1, the remaining portion of said called 412 acre tract, the south line of said Lot 1, a distance of 305.61 feet to a found 1/2" iron rod with a cap marked "Diamond Surveying ", a northwest corner of the aforementioned 14.839 acre tract; THENCE: Departing the south line of said Lot 1, along and with a west line and a north line of said called 14.839 acre tract, the following bearings and distances: AUSTIN / SAN ANTONIO / HOUSTON 7800 Shoal Creek Blvd., Suite 220 West Austin, Tesas 78757 P 512.454.8711 F 512.459.8867 www.pape- dawson.com 5.218 Acres Job No. 50790 -00 Page 2 of 2 S 20 °55'31" E, a distance of 349.29 feet to a found '/2" iron rod with a cap marked "Diamond Surveying "; S 24 °31'27" W, a distance of 34.80 feet to a found 1 /2" iron rod with a cap marked "Diamond Surveying ", a point of non - tangent curvature; Southwesterly, along a non- tangent curve to the right, said curve having a radial bearing of N 19 °18'45" W, a radius of 965.00 feet, a central angle of 23 °25'14 ", a chord bearing and distance of S 82 °23'52" W, 391.72 feet, for an arc length of 394.46 feet to a found 1/2" iron rod, a point of tangency; N 85 °53'31" W, a distance of 408.54 feet to a found '/2" iron rod with a cap marked "Diamond Surveying ", a point of curvature; THENCE: Southwesterly, along a tangent curve to the left, said curve having a radius of 1115.00 feet, a central angle of 24'25'31", a chord bearing and distance of S 81053'44" W, 471.74 feet, for an arc length of 475.33 feet to the POINT OF BEGINNING and containing 5.218 acres in Williamson County, Texas. Said tract being described in accordance with a survey made on the ground and a survey description and map prepared under job number 50790 -00 by Pape - Dawson Engineers, Inc. PREPARED BY: Pape- Dawson Engineers, Inc. DATE: December 24, 2013 REVISED: March 6, 2014 Job No.: 50790 -00 DOC.ID. N:\AUSTM0790 -00 \Word \TRACTLdocx TBPE Firm Registration #470 TBPLS Firm Registration #100288 -00 PAPE- DAWSON ENGINEERS Exhibit "B" to Resolution No. Terms and Conditions of City's Consent to Creation of the Districts 1. As of the date of this Resolution, all of the conditions of the City's final consent to inclusion of the Land in the Districts and development of the Land have not yet been identified or negotiated, but it is currently anticipated that the City and Owner /Developer will negotiate a consent agreement pertaining to the creation of up to two (2) municipal utility district on the Land, as well as a development agreement, utility agreement and /or other related agreements, and that the Owner /Developer will apply for amendments to the City's Comprehensive Plan and for approval of a Planned Unit Development ordinance pertaining to the Land (said agreements and ordinances being collectively referred to herein as the "Definitive Agreements "). The Definitive Agreements will more fully set forth the terms of the City's consent to creation of the Districts on the Land and other matters pertaining to development of the Land. At a minimum and without waiving the right to oppose creation of the Districts or to include additional or different conditions to the City's consent to inclusion of the Land in the Districts, the City's consent to creation of the Districts on the Land is subject to the City Council's approval of the Definitive Agreements that must, at a minimum, include provisions addressing following matters: • A limitation on the purposes for which the Districts may issue bonds and notes; • A limitation on the total amount of debt authorized to be issued by the Districts; • The City's right to review, limit, and approve the Districts' tax rates; • The City's right to review and approve the Districts' bonds and notes prior to issuance; • The City's right to place restrictions on the terms and provisions of and conditions on the sale of the Districts' bonds and notes to the extent that such restrictions and conditions do not generally render the bonds and notes of the Districts unmarketable; • The City's right to provide water, wastewater, electric, garbage and other utility service to the Districts and to assess and collect associated fees; • The City's right to assess and collect special impact (SIP) fees; • The City's right to inspect all facilities being constructed on the Land; and • The City's right to impose land use restrictions on the Owner/Developer to meet criteria and conditions required by the City Council. 2. Unless agreed by the City Council and expressly stated otherwise in the final Definitive Agreements, the City Council's approval of the Resolution is conditioned on Hillwood Enterprises, L.P. being the initial Developer of the Land. 3. Owner /Developer shall have no authority to commence development and City shall have no obligation to process applications or requests for development authorizations prior to the date that the Definitive Agreements are approved by the City Council and Owner /Developer. 4. The Districts shall have no authority to issue bonds prior to the date that the Definitive Agreements are approved by the City Council and Owner /Developer and are ratified and approved by the Boards of Directors of the Districts. 5. Unless agreed by the City Council and expressly stated otherwise in the final Definitive Agreements, all water, wastewater, drainage, storm water, transportation, parkland, trails, and all other improvements and services necessary to develop or serve the Land shall be designed and constructed to meet the standards set forth in all of the following: a. all federal, state and local laws, ordinances, orders, specifications, standards, and regulations pertaining to the development of the Land, including, without limitation, the Texas Commission on Environmental Quality laws and rules for construction over the Edwards Aquifer Recharge Zone; b. the City's Unified Development Code, Code of Ordinances, Construction Specifications and Standards, Drainage Criteria Manual, Building Codes, Fire Codes, Inspection Guidelines, and Development Manual; and the final City- approved construction plans and specifications for the improvements (collectively, the "Applicable Laws "). 6. Nothing in the Resolution or this Exhibit B shall constitute waiver of the City's right to require development on the Land to exceed the requirements of the Applicable Laws as a condition of its approval of the Definitive Agreements, and the City expressly reserves such right. 7. The purposes, powers and duties of the Districts shall be limited to those expressly authorized for municipal utility districts pursuant to the Texas Water Code and applicable constitutional provisions; but in no event shall the Districts be permitted to annex additional land into the Districts or to exercise powers of eminent domain without the written consent of the City. 8. By approving the Resolution, the City does not consent the conversion of the Districts to any other form of special district. 9. The Land is currently subject to several (10) "Chapter 43 Texas Local Government Code Development Agreements," each dated on or about November 26, 2008, and each by and among the City and Owner, and which are filed of record in the Official Records of Williamson County (collectively, the "Prior Agreements "). The Petition and the request for the Definitive Agreements pertaining to development of the Land constitute petitions for voluntary annexation of those portions of the Land that are subject to a Prior Agreement. Nothing in the Resolution alters the terms of or constitutes a waiver of the City's rights under the Prior Agreements, and the City expressly reserves all of its rights under same. The creation of the Districts shall not be effective until the City has completed annexation of those portions of the Land that are subject to a Prior Agreement. 10. Nothing in the Resolution shall have the effect of vesting the Owner, the Developer, or the Land with any rights under Chapter 245 of the Texas Local Government Code. 11. Nothing in the Resolution shall authorize additional land to be annexed into the Districts without the prior written consent of the City. 12. The Definitive Agreements must be considered and approved in accordance with the various City processes, including, for example, the City's annexation, comprehensive plan amendment, and zoning ordinances and procedures, and the City's ordinances and procedures pertaining to creation of special districts, approval of development agreements, approval of utility agreements, approval of economic development incentives, etc. Nothing in the Resolution or this Exhibit B shall be construed to waive or alter any of those ordinances or procedures, and each Definitive Agreement shall be processed and considered in accordance with the applicable City ordinances, standards and procedures.