DEVELOPMENT AGREEMENT FOR SUBDIVISION IMPROVEMENTS FORDevelopment Agreement • January 31st, 2025 • Texas
This Development Agreement (this “AGREEMENT”) is made and entered into on this 3RD day of FEBRUARY, 2025 (the “EFFECTIVE DATE”) by and between the Town of Westlake, Texas, a Type A General Municipality located in the State of Texas (the “TOWN”), and OTTER PARTNERS, LP, a Texas Limited Partnership duly incorporated in the State of Texas (the “DEVELOPER”) to establish the terms and conditions for designing and installing infrastructure and other related improvements for WESTLAKE VENTANAS, a residential development approved by Ordinance No. 994 by the Town Council on the 1ST day of APRIL, 2024 and subject to certain conditions as set forth in Ordinance No. 1001 approved by the Town Council on the 19TH day of AUGUST, 2024 (the “DEVELOPMENT” as further defined below). The Town and the Developer may also be referred to collectively as the “PARTIES”, or individually as a “PARTY”.