Document:

EX-10.9

 Exhibit 10.9 
  

 
 DEVELOPMENT AGREEMENT 

BETWEEN 
 THE CITY OF
MEADOWS PLACE, TEXAS 
 AND 

LEFT GATE PROPERTY HOLDING, INC. d/b/a TEXAS DIRECT AUTO 
  

 DEVELOPMENT AGREEMENT 

BETWEEN THE CITY OF MEADOWS PLACE, TEXAS, 

AND LEFT GATE PROPERTY HOLDING, INC. d/b/a TEXAS DIRECT AUTO 

This Development Agreement (the “Agreement”) is made and entered into as of the 28th day of June, 2011, by THE CITY OF MEADOWS
PLACE, TEXAS (the “City”), a general law municipality in Fort Bend County, Texas, acting by and through its governing body, the City Council; and LEFT GATE PROPERTY HOLDING, INC. d/b/a TEXAS DIRECT AUTO (the “Developer”). 

RECITALS 
 The
Developer is leasing approximately 34.89 acres of land in City’s territorial limits and the City of Stafford’s extraterritorial limits as described in Exhibit “A” (the “Property”). 

The City wishes to provide for the orderly, safe, and healthful development of the Property. 

The Developer desires to develop the Property with the following uses: Permitted uses under C-2
Commercial District and the Specific Use of a Transportation, Automotive and Related Uses: Auto or Motorcycle Sales, Auto Parts Sales, Automobile Service Stations, and Automobile Services. Developer requires an agreement providing for long-term
certainty in regulatory requirements and development standards by the City regarding the Property. 
 The City and the Developer agree that
the development of the Property can best proceed pursuant to a development agreement and the granting of a Specific Use Permit for the Property. 

It is the intent of this Agreement to establish certain restrictions and commitments imposed and made in connection with the development of
the Property. The City and the Developer are proceeding in reliance on the enforceability of this Agreement. 
 NOW, THEREFORE, for and in
consideration of the mutual agreements, covenants, and conditions contained herein, and other good and valuable consideration, the City and the Developer agree as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.01    Terms. Unless the context requires otherwise, and in addition to
the terms defined above, the following terms and phrases used in this Agreement shall have the meanings set out below: 
 City means
the City of Meadows Place, Texas. 
 City Council means the City Council of the City or any successor governing body. 

Developer means Left Gate Property Holding, Inc. d/b/a Texas Direct Auto. 

  
 1 

 Site Plan means the conceptual land use plan for the proposed development of the Property,
a copy of which is attached to this Agreement as Exhibit C as it may be revised from time to time in accordance with this Agreement. 

Specific Use Permit means the Ordinance adopted by City Council on June 28, 2011, granting a Specific Use Permit to the Property,
which is attached hereto as Exhibit B. 
 Person means any individual, partnership, association, firm,
trust, estate, public or private corporation, or any other legal entity whatsoever. 
 Property means all the land described in the
attached Exhibit A. 
 ARTICLE II 

SITE PLAN 

Section 2.01    Introduction. The Property is to be developed under the permitted uses of
a C-2 Commercial District and the Specific Use of a Transportation, Automotive and Related Uses: Auto or Motorcycle Sales, Auto Parts Sales, Automobile Service Stations, and Automobile Services.” 

Section 2.02    Site Plan and Amendments Thereto. The City and the Developer acknowledge
that the Site Plan attached as Exhibit C is the preliminary plan for the development of the Property. The parties acknowledge and agree that the Site Plan will be revised and refined by the Developer from time to time as
the Developer continues its investigation of the Property and prepares a feasible and detailed plan for development of the Property, provided that in no case shall the Site Plan be revised to contradict any of the requirements of this Agreement, the
City’s Code of Ordinances, or the Specific Use Permit attached to the Property. The City approves the Site Plan. Any significant deviation of the Site Plan requires Developer to present such changes to City Council for approval. 

ARTICLE III 
 DESIGN AND
CONSTRUCTION STANDARDS AND APPLICABLE ORDINANCES 
 Section 3.01    Regulatory
Standards and Development Quality. The City and the Developer agree that one of the primary purposes of this Agreement is to provide for quality development of the Property and certainty as to the regulatory requirements applicable to the
development of the Property throughout the development process, Feasibility of the development of the Property is dependent upon a predictable regulatory environment and stability in the projected land uses. In exchange for Developer’s
performance of the obligations under this Agreement to develop the Property in accordance with certain standards and to provide the overall quality of development described in this Agreement, the City agrees to the extent allowed by law that it will
not impose or attempt to impose any moratoriums on building or growth within the Property. 
 By the terms of this Agreement, the City and
the Developer intend to establish development and design rules and regulations which will ensure a quality development, yet afford the Developer predictability of regulatory requirements throughout the term of this Agreement. Accordingly, the Site
Plan and guidelines established by this Agreement as well as the conditions stated in the Specific Use Permit granted for the Property shall control the Property’s development. 

  
 2 

 Section 3.02    Building Facades. Developer
shall use materials as depicted on the Site Plan for building facades, fencing, and screening. 

Section 3.03    City Sign. The Developer shall present to the City Council a design of a
“City of Meadows Place, Texas” monument sign within sixty (60) days from the date of this Agreement. City Council may amend such monument design. Developer shall build the City Council approved monument sign using the materials
specified by City Council. Developer shall complete construction of the monument sign within 180 days of City Council approval. Once constructed, Developer shall dedicate such monument sign to the City. 

Section 3.04    Dog Park. The Site Plan includes a dog park plan. The City hereby
approves the development of a dog park. The Developer hereby agrees to substantially comply with the acreage of the dog park shown on the Site Plan, although the Developer reserves the right to change specific locations and layouts of the dog park.
The dog park shall be open to the public; however, Developer may set reasonable times for the dog park’s use. The City shall have no responsibility to maintain the dog park. 

Section 3.05    Traffic Study. The City may require the Developer to provide a traffic
study for the ultimate build out of the Property. Developer shall submit to the City a Traffic Study within sixty (60) days of the City providing to the Developer a written request for such study. The traffic study shall be conducted by an
engineering company whose regular business is to conduct traffic studies. If the City Council determines that the traffic study shows negative impact on the City, City shall present to Developer a written letter informing Developer how to mitigate
any negative impacts. Developer shall mitigate any negatives as set forth in the letter from City Council. 

Section 3.06    Hazardous materials. If hazardous materials are stored on the Property,
Developer shall provide a list and location to the City of such materials. Developer shall remove and remediate all hazardous materials on the Property upon vacation. 

Section 3.07    Permits, Inspections, Certificate of Occupancy. The Developer will comply
with all City requires to obtain any permits, comply with any City inspections, and obtain any certificate of occupancy. 

Section 3.08    Platting. If required by either the City of Meadows Place or the City of
Stafford, Developer shall plat the Property. Developer must receive final plat approval from the City of Meadows Place and the City of Stafford within ninety (90) days of this Agreement. If applicable, Developer must receive plat approval from
Fort Bend County within 180 days of this Agreement. 
 Section 3.09    Waiver of Actions
Under Private Real Property Rights Preservation Act. The Developer hereby waive its right, if any, to assert any causes of action against the City accruing under the Private Real Property Rights Preservation Act, Chapter 2007, Texas Government
Code (the “Act”), that the City’s execution or performance of this Agreement or any authorized amendment or supplements thereto may constitute, either now or in the future, a “Taking” of Developer’s, Developer’s
grantee’s, or a grantee’s successor’s “Private Real Property,” as such terms are defined in the Act. 

  
 3 

 ARTICLE IV 

MATERIAL BREACH, NOTICE AND REMEDIES 

Section 4.01    Material Breach of Agreement. It is the intention of the parties to this
Agreement that the Property be developed in accordance with the terms of this Agreement and that Developer follow the development plans as set out in the Site Plan. 

(a)    The parties acknowledge and agree that any major deviation from the Site Plan and the concepts of development
contained therein and any substantial deviation by Developer from the material terms of this Agreement would frustrate the intent of this Agreement, and therefore, would be a material breach of this Agreement. A material breach of this Agreement by
Developer shall be deemed to have occurred in the following instances: 
 1.    Developer’s failure
to develop the Property in compliance with the approved Site Plan, as from time to time amended; or Developer’s failure to secure the City’s approval of any material or significant modification or amendment to the Site Plan; 

2.    Failure of Developer to substantially comply with a provision of this Agreement, the Specific Use
Permit granted for the Property, or any other City ordinances. 
 3.    Failure of Developer to obtain
the City’s consent or approval for any actions as set forth in this Agreement or the Specific Use Permit granted for the Property. 

4.    Failure of the Developer to consent to any City inspection. 

5.    Failure of Developer to cease construction of any public or private improvement when such order is
issued by the City. 
 6.    All taxes on the Property shall be paid timely by the entity that owes the
taxes. All delinquent taxes owed at the time of execution of this Agreement shall be paid within ninety (90) days of this Agreement by the record title owners of the Property. If the record title owners do not pay the taxes which are already
delinquent and owed at the time of execution of this Agreement, within ninety (90) days of this Agreement, then Developer, at its option, shall be entitled to pay said taxes. After the ninety (90) day period, the City, at its option, may
terminate this Agreement and the Specific Use Permit on the Property. Record title owners shall pay any and all future taxes on the Property on a timely basis. The Developer likewise shall pay all ad valorem taxes resulting from its leasehold
ownership, inventory, and similar taxes which it would owe as a Lessee of the Property. In the event that a record title owner fails to timely pay the ad valorem taxes, the City shall give Developer written notice of the delinquent taxes. Developer
shall be entitled to pay said taxes, at its option, pursuant to the terms of its lease agreement. The City may terminate this Agreement and the Specific Use Permit on the Property if the taxes are not timely paid within thirty (30) days of
written notice of such delinquency. 
 7.    Failure of Developer to plat the Property as required by
this Agreement. 

  
 4 

 (b)    The parties acknowledge and agree that any substantial deviation by
the City from the material terms of this Agreement would frustrate the intent of this Agreement and, therefore, would be a material breach of this Agreement. A material breach of this Agreement by the City shall be deemed to have occurred in the
following instances: 
 1.    The imposition or attempted imposition of any moratorium on building or
growth on the Property, except as allowed by State law or this Agreement; 
 2.    An attempt by the City
to enforce any City ordinance within the Property that is inconsistent with the terms and conditions of this Agreement; 

3.    An attempt by the City to unreasonably withhold approval of a plat within the Property that complies
with the requirements of this Agreement. 
 In the event that a party to this Agreement believes that another party has, by act or omission,
committed a material breach of this Agreement, the provisions of this Article VI shall provide the remedies for such default. 

Section 4.02    Notice of Developer’s Default. 

(a)    The City shall notify the Developer in writing of an alleged failure by the Developer to comply with a provision of
this Agreement, which notice shall specify the alleged failure with reasonable particularity. The alleged defaulting Developer shall, within thirty (30) days after receipt of such notice or such longer period of time as the City may specify in
such notice, either cure such alleged failure or, in a written response to the City, either present facts and arguments in refutation or excuse of such alleged failure or state that such alleged failure will be cured and set forth the method and
time schedule for accomplishing such cure. 
 (b)    The City shall determine (i) whether a failure to comply with
a provision has occurred; (ii) whether such failure is excusable; and (iii) whether such failure has been cured or will be cured by the alleged defaulting Developer. The alleged defaulting Developer shall make available to the City, if
requested, any records, documents or other information necessary to make the determination. 
 (c)    In the event that
the City determines that such failure has not occurred, or that such failure either has been or will be cured in a manner and in accordance with a schedule reasonably satisfactory to the City, or that such failure is excusable, such determination
shall conclude the investigation. 
 (d)    If the City determines that a failure to comply with a provision has
occurred and that such failure is not excusable and has not been or will not be cured by the alleged defaulting Developer in a manner and in accordance with a schedule reasonably satisfactory to the City, then the City Council may proceed to
mediation. City may also repeal the Specific Use Permit granted for the Property at any time. 

  
 5 

 Section 4.03    Notice of City’s Default. 

(a)    If Developer shall notify the City in writing of an alleged failure by the City to comply with a provision of this
Agreement, which notice shall specify the alleged failure with reasonable particularity. The City shall, within 30 days after receipt of such notice or such longer period of time as that Developer may specify in such notice, either cure such alleged
failure or, in a written response to each Developer, either present facts and arguments in refutation or excuse of such alleged failure or state that such alleged failure will be cured and set forth the method and time schedule for accomplishing
such cure. 
 (b)    The Developer shall determine (i) whether a failure to comply with a provision has occurred;
(ii) whether such failure is excusable; and (iii) whether such failure has been cured or will be cured by the City. The City shall make available to the Developer, if requested, any records, documents or other information necessary to make
the determination. 
 (c)    In the event that the Developer determines that such failure has not occurred, or that such
failure either has been or will be cured in a manner and in accordance with a schedule reasonably satisfactory to the Developer, or that such failure is excusable, such determination shall conclude the investigation. 

(d)    If the Developer determines that a failure to comply with a provision has occurred and that such failure is not
excusable and has not been or will not be cured by the City in a manner and in accordance with a schedule reasonably satisfactory to the Developer, then the Developer may proceed to mediation. 

Section 4.04    Mediation. In the event the parties to this Agreement cannot, within a
reasonable time, resolve their dispute pursuant to the procedures described herein, the parties agree to submit the disputed issue to non-binding mediation. The parties shall participate in good faith, but in
no event shall they be obligated to pursue mediation that does not resolve the issue within 7 days after the mediation is initiated or 14 days after mediation is requested. The parties participating in the mediation shall share the costs of the
mediation equally. 
 Section 4.05    Remedies. 

(a)    In the event of a determination by the City that a Developer has committed a material breach of this Agreement that
is not resolved in mediation pursuant to Section 4.04, the City may file suit in a court of competent jurisdiction in Fort Bend County, Texas, and seek any relief available at law or in equity, including, but not limited to, an action under the
Uniform Declaratory Judgment Act and termination of this Agreement. The City may also repeal the Specific Use Permit granted for the Property. 

(b)    In the event of a determination by a Developer that the City has committed a material breach of this Agreement that
is not resolved in mediation pursuant to Section 4.04, the Developer may file suit in a court of competent jurisdiction in Fort Bend County, Texas, and seek any relief available, at law or in equity, including, but not limited to, an action
under the Uniform Declaratory Judgment Act and termination of this Agreement; however in no instance shall the City ever be liable for any monetary damages to Developer for any reason whatsoever. 

  
 6 

 ARTICLE V 

BINDING AGREEMENT, TERM, AMENDMENT, AND ASSIGNMENT 

Section 5.01    Beneficiaries. This Agreement shall bind and inure to the benefit of the
City and the Developer, their authorized successors and assigns. A memorandum of this Agreement, in substantially the form attached hereto as Exhibit D, shall be recorded in the County Clerk Official Records of Fort Bend
County, Texas. 
 Section 5.02    Term. This Agreement shall bind the parties and
continue until a date that is 10 years from the date of this Agreement, unless terminated on an earlier date pursuant to other provisions or by express written agreement executed by the City and Developer. Upon the expiration of 10 years from the
date of this Agreement, this Agreement may be extended, at the Developer’s request and with City Council approval, for successive one-year periods. 

Section 5.03    Termination. In the event this Agreement is terminated as provided in
this Agreement or is terminated pursuant to other provisions, or is terminated by mutual agreement of the parties, the parties shall promptly execute and file of record, in the County Clerk Official Records of Fort Bend County, a document confirming
the termination of this Agreement, and such other documents as may be appropriate to reflect the basis upon which such termination occurred. 

Section 5.04    Assignment or Sale. No assignment by Developer shall occur unless an
application for assignment is submitted to the City Council. Such assignment application shall contain financial information of the proposed assignee along with any other information deemed necessary by the City Council. The City Council shall
conduct a hearing on the assignment application. The City Council will not unreasonably withhold approval of an assignment application. Subleasing is not considered an assignment so long as Developer remains as lessor. Developer shall remain liable
for all terms and conditions of this Agreement. 
 ARTICLE VI 

MISCELLANEOUS PROVISIONS 

Section 6.01    Notice. The parties contemplate that they will engage in informal
communications with respect to the subject matter of this Agreement. However, any formal notices or other communications (“Notice”) required to be given by one party to another by this Agreement shall be given in writing addressed to the
party to be notified at the address set forth below for such party, (a) by delivering the same in person, (b) by depositing the same in the United States Mail, certified or registered, return receipt requested, postage prepaid, addressed
to the Party to be notified; (c) by depositing the same with FedEx or another nationally recognized courier service guaranteeing “next day delivery,” addressed to the party to be notified, or (d) by sending the same by telefax
with confirming copy sent by mail. Notice deposited in the United States mail in the manner herein above described shall be deemed effective from and after 3 days after the date of such deposit. Notice given in any other manner shall be effective
only if and when received by the party to be notified. For the purposes of notice, the addresses of the parties, until changed as provided below, shall be as follows: 

  
 7 

	 	City:	 City of Meadows Place, Texas 

	 	    	 One Troyan Drive 

	 	    	 Meadows Place, Texas 77477 

	 	    	 Attn: City Secretary 

	 	    	 (fax) (281) 983-2940 

 

	 	    	 c.c. 

  

	 	    	 Grady Randle 

	 	    	 Randle Law Office 

	 	    	 820 Gessner, Suite 1570 

	 	    	 Houston, Texas 77024 

	 	    	 (fax) (832) 476-9554 

 

	 	Developer:	 Left Gate Property Holding Inc., d/b/a Texas Direct Auto 

 

	 	    	 % Jon Stautberg 

	 	    	 3100 Edloe Street, Suite 335 

	 	    	 Houston, TX 77027 

	 	    	 (fax) (713) 621-8706 

The parties shall have the right from time to time to change their respective addresses, and each shall have the right to specify as its address any other
address within the United States of America by giving at least 5 days written notice to the other parties. If any date or any period provided in this Agreement ends on a Saturday, Sunday, or legal holiday, the applicable period for calculating the
notice shall be extended to the first business day following such Saturday, Sunday or legal holiday. 

Section 6.02    Time. Time is of the essence in all things pertaining to the performance
of this Agreement 
 Section 6.03    Severability. If any provision of this Agreement
is illegal, invalid, or unenforceable under present or future laws, then, and in that event, it is the intention of the parties hereto that the remainder of this Agreement shall not be affected. 

Section 6.04    Waiver. Any failure by a party hereto to insist upon strict performance
by the other party of any material provision of this Agreement shall not be deemed a waiver thereof or of any other provision hereof, and such party shall have the right at any time thereafter to insist upon strict performance of any and all of the
provisions of this Agreement 
 Section 6.05    Applicable Law and Venue. The
construction and validity of this Agreement shall be governed by the laws of the State of Texas without regard to conflicts of law principles. Venue shall be in Fort Bend County, Texas. 

Section 6.06    Reservation of Rights. To the extent not inconsistent with this
Agreement, each party reserves all rights, privileges, and immunities under applicable laws. 

Section 6.07    Further Documents. The parties agree that at any time after execution of
this Agreement, they will, upon request of another party, execute and deliver such further documents and do such further acts and things as the other party may reasonably request in order to effectuate the terms of this Agreement. 

  
 8 

 Section 6.08    Incorporation of
Exhibits and Other Documents by Reference. All Exhibits and other documents attached to or referred to in this Agreement are incorporated herein by reference for the purposes set forth in this Agreement. 

Section 6.09    Effect of State and Federal Laws. Notwithstanding any other provision of
this Agreement, Developer, its successors or assigns, shall comply with all applicable statutes or regulations of the United States and the State of Texas, as well as any City ordinances not in conflict with this Agreement, and any rules
implementing such statutes or regulations. 
 Section 6.10    Modification. This
Agreement may be modified with written consent by both parties. 

Section 6.11    Construction. This Agreement and the terms and provisions hereof shall be
liberally construed to effectuate the purposes set forth herein and to sustain the validity of this Agreement. 

Section 6.12    Authority for Execution. The City hereby certifies, represents, and
warrants that the execution of this Agreement is duly authorized and adopted in conformity with City ordinances. The Developer hereby certifies, represents, and warrants that the execution of this Agreement is duly authorized and adopted in
conformity with the articles of incorporation and bylaws or partnership agreements of such entities. 
 [EXECUTION PAGES FOLLOW] 

  
 9 

 IN WITNESS WHEREOF, the undersigned parties have executed this Agreement as of the 28th day of
June 2011. 
  

							
		 		  	CITY OF MEADOWS PLACE, TEXAS
				
		 		  	By:	 	 /s/ Charles Jessup

		  	Charles Jessup, Mayor
			
	ATTEST:	  		 	
				
	By:	 	 /s/ Elaine Herff
	  		 	
	Elaine Herff, City Secretary	  		 	
			
		 		  	LEFT GATE PROPERTY HOLDING, INC.
d/b/a/ TEXAS DIRECT AUTO
				
		 		  	By:	 	 /s/ Mike Welch

		 		  	 Name: Mike Welch
 Title:
Secretary

 EXHIBIT LIST 

 

			
	Exhibit A	  	Metes and Bounds descriptions of the Property
		
	Exhibit B	  	Specific Use Permit Ordinance
		
	Exhibit C	  	Developer Site Plan
		
	Exhibit D	  	Memorandum of Agreement

 EXHIBIT “A” 

Being a tract or parcel containing 3.139 acres (136,753 square feet) of land situated in the James Alston Survey, Abstract Number 100, Harris County, Texas,
James Alston Survey, Abstract Number 101, Fort Bend County, Texas; being out of and a part of a certain called 12.9242 acre tract, conveyed to Meadows Associates, as recorded under Fort Bend County Clerk’s File (F.B.C.C.F.) Number 9032939, Fort
Bend County, Texas; said 3.139 acre tract being more particularly described as follows (bearings are based on said deed of record under F.B.C.C.F. Number 9032939); 

BEGINNING at a 5/8-inch iron rod found marking the most easterly corner of THE MEADOWS, SECTION ONE, a subdivision of
record in Volume 156, Page 87, Harris County Map Records (H.C.M.R), and in the southwesterly line of PARKGLEN, SECTION THREE, a subdivision of record in Volume 163, Page 67, H.C.M.R., and marking the most northerly corner of the herein described
tract; 
 THENCE, South 70°00’50” East, along said southwesterly line of PARKGLEN, SECTION THREE, at a distance of 200.00 feet passing a 5/8-inch iron rod found at the end of the westerly right-of-way (R.O.W) line of Burlingame Street (60 feet wide), at 260.00 feet
passing a point in the southwesterly line of PARKGLEN, SECTION TWO, a subdivision of record in Volume 156, Page 80, H.C.M.R., and the end of the most easterly R.O.W. line of said Burlingame Street, continuing along the southwesterly line of said
PARKGLEN, SECTION TWO, a total distance of 346.21 feet to a 5/8-inch rod with cap set marking the most easterly corner of the herein described tract; 

THENCE, South 19°59’10” West, a distance of 395.00 feet to 5/8-inch iron rod with cap set in the
northerly R.O.W line of Dorrance Lane (60 feet wide) marking the most southerly corner of the herein described tract; 
 THENCE, North
70°00’50” West, along said northerly R.O.W. line of Dorrance Lane, a distance of 346.21 feet to a 5/8-inch iron rod found in the southeasterly line of the aforementioned THE MEADOWS, SECTION ONE
and marking the most westerly comer of the herein described tract; 
 THENCE, North 19°59’10” East, along said southeasterly line of THE
MEADOWS, SECTION ONE, a distance of 395.00 feet to the POINT OF BEGINNING and containing 3.139 acres (136,753 square feet) of land. 

  
 1 

 Exhibit “A” 

Being a tract or parcel containing 14.457 acres (629,745 square feet) of land, situated in the James Alston Survey, 

Abstract Number 101, Fort Bend County, Texas; being out of and all of the 0.9153 acres conveyed to the Meadvest Limited Partnership, of record in Fort Bend
County Clerk’s File (F.B.C.C.F.) Number 9669300 and Harris County Clerk’s File Number S174462, and being out of and a part of that certain called 22.94 acre tract of record in Volume 1396, Page 417, F.B.C.D.R., and being all of that
certain called 2.000 acre tract of record in Volume 1403, Page 756, F.B.C.D.R., said 14.457 acre tract being more particularly described as follows (bearings are based on said deed of record in Volume 2223, Page 59, F.B.C.D.R.): 

COMMENCING as a 5/8 inch iron rod found marking the intersection of the southwesterly
right-of-way (R.O.W) line of Dorrance Lane (width varies) with the former northwesterly R.O.W. line of U.S Highway 59 (based on a 300 foot width); 

THENCE, South 44 deg. 05 min. 00 sec. West, along said former northwesterly R.O.W. line of said U.S. Highway 59, a distance of 663.87 feet to a 5/8 inch iron
rod found marking the most easterly corner of that certain called 7.00 acre tract of record in Volume 28. Page 16 of the Fort Bend County Plat Records (F.B.C.P.R.), Fort Bend County, Texas; 

THENCE, North 45 deg. 55 min. 00 sec. West, along with northeasterly line of said 7.00 acre tract, a distance of 677.61 feet to a 5/8-inch iron rod set marking the most northerly corner of said 7.00 acre tract and the POINT OF BEGINNING of the herein described tract; 

THENCE, South 44 deg. 05 min. 00 sec. West, along the northwesterly line of said 7.00 acre tract, a distance of 450.01 feet to a 5/8 inch iron rod found for
corner, 
 THENCE, North 45 deg. 55 min. 00 sec. West, along the most easterly line of a tract of land conveyed to Paul R. Lawrence, Trustee, of record in
Volume 2679, Page 2196, Fort Bend County Official Records (F.B.C.O.R), a distance of 204.06 feet to a 5/8 inch iron rod set marking an angle point; 

THENCE, North 70 deg. 31 min. 00 sec. West, along the said Paul R. Lawrence, Trustee tract, a distance of 438.09 feet to a 5/8 inch iron rod set marking an
angle point; 
 THENCE, North 44 deg. 05 min. 00 sec. East., along a tract of land conveyed to the City of Meadows of record in Volume 1827, Page 2608, Fort
Bend County Official Records (F.B.C.O.R.) at a distance of 244.68 feet along the easterly line of a tract of land conveyed to the City of Meadows, Texas recorded in Volume 1827 Page 2608, Fort Bend County Official Records (F.B.C.O.R.) and passing
the most southerly corner of The Meadows Section One of record in Volume 156. Page 87, Harris County Map Records, Harris County, Texas and in Volume 6, Page 12 F.B.C.P.R., and continuing along the southeasterly line of said The Meadows, Section One,
in all a distance of 803.47 feet to a 5/8 inch iron rod set marking an angle point in the southeast line of said The Meadows, Section One; 

  
 2 

 Thence, North 19 deg. 59 min. 10 sec. East, continuing along the southeasterly line of said The Meadows, Section
One, a distance of 202.46 feet to a 5/8 inch iron rod found in the southwesterly R.O.W. line of the aforementioned Dorrance Lane (60.00 feet wide); 

  
 3 

 Exhibit “A” Continuation 

THENCE, South 70 deg. 00 min 50 sec. East, along said southwesterly R.O.W line, a distance of 550.25 feet to a 5/8 inch iron rod found at the beginning of a
tangent curve to the right; 
 THENCE, continuing along said Southwesterly R.O.W line, a distance of 148.02 feet along the arc of said curve to the right,
having a radius of 1070.00 feet, a central angle of 07 deg. 55 min. 33 sec., and a chord which bears South 66 deg. 03 min. 04 sec. East, 147.90 feet to a 5/8 inch iron rod set for corner 

THENCE, South 24 deg. 18 min. 46 sec. West, departing said R.O.W line, a distance of 295.73 fleet to an “X” set in concrete and for an angle point;

 THENCE, North 45 deg. 55 min. 00 sec. West, a distance of 70.00 feet to an “X” set for an angle point; 

THENCE, South 44 deg. 05 min. 00 sec. West, a distance of 353.18 feet to an “X” set for an angle point; 

THENCE, South 45 def. 55 min. 00 sec. East, a distance of 13.86 feet to the POINT OF BEGINNING and containing 14.457 acres (629,745 square feet) of land, more
or less. 

  
 4 

 “Exhibit A” 

Being a tract or parcel containing 3.518 acres (153,240 square feet) of land situated in the James Alston Survey, Abstract Number 100, Harris County, Texas
and James Alston Survey. Number 101, Fort Bend County, Texas, being out of and a part of a certain called 12.9242 acre tract, conveyed to Meadows Associates, as recorded under Fort Bend County Clerk’s File (F.B.C.C.F .) Number 9032939, Fort
Bend County, Texas, and being the same called 3.518 acres recorded under F.B.C.C.F. Number 9669300 and Harris County Clerk’s File Number S174462, Harris County, Texas; said 3.518 acre tract being more particularly described as follows (bearings
are based on said deed of record under F.B.C.C.F. Number 9032939): 
 BEGINNING at a 5/8-inch iron rod cap set in a
northerly right-of-way (R.O.W.) line of Dorrance Lane (60 feet wide) and in the arc of a curve to the left, marking the most westerly comer of Reserve “C”, of
MEADOWS CENTER, SECTION ONE, a subdivision of record in Volume 346, Page 133, Harris County Map Records (H.C.M.R.) and under Slide Number 1086A, Fort Bend County Map Records and marking the most southerly comer of the herein described tract from
which a 5/8-inch iron rod found bears South 49 deg. 46 min. West, 0.39 feet; 
 THENCE, 16.16 feet, along said
northerly R.O.W. line of Dorrance Lane and the arc of said curve to the left, having a radius of 1,130.00 feet, a central angle of 00 deg. 49 min. 09 sec. and a chord which bears North 69 deg. 36 min. 39 sec. West, 16.15 feet to a 5/8-inch iron rod with cap set marking a point of tangency; 
 THENCE, North 70 deg. 00 min. 50 sec. West, continuing
along said northerly R.O.W. line of Dorrance Lane, a distance of 204.04 feet to a 5/8-inch iron rod with cap set marking the most westerly comer of the herein described tract, same being the most easterly line
of a tract of land conveyed to Cavalry Enterprises (Texas, lnc.) as recorded under F.B.C.C.F. Number 9728787 and Harris County Clerk’s File Number S441594; 

THENCE, North 19 deg. 59 min. 10 sec East, along the said 

Cavalry Enterprises tract, a distance of 395.00 feet to a 5/8-inch iron rod with cap set in the southwesterly line of
PARKGLEN, SECTION TWO; a subdivision of record in Volume 156, Page 80, H.C.M.R., and for the most northerly corner of the herein described tract; 
 THENCE,
South 70 deg. 00 min. 50 sec. East, along said southwesterly line of PARKGLEN, SECTION TWO, a distance of 687.05 feet to a 5/8-inch iron rod with cap set marking the most easterly corner of the herein
described tract; 
 THENCE, South 19 deg. 59 min. 10 sec. West, a distance of 100.00 feet to a 5/8-inch iron rod
with cap set in the northeasterly line of the aforementioned Reserve “C” and for an angle point of the herein described tract; 
 THENCE North 70
deg. 00 min. 50 sec. West, along said northeasterly line of Reserve “C’’, a distance of 334.18 feet to a 5/8-inch iron rod with cap set marking the most northerly corner of said Reserve
‘‘C” and for an interior angle of the herein described tract; 

  
 5 

 THENCE, South 44 deg. 11 min. 42 sec. West, along the northwesterly line of said Reserve “C”, a
distance of 323.57 feet (called 323.51 feet) to the POINT OF BEGINNING and containing 3.518 acres (153,240 square feet) of land, more or less. 

  
 6 

 “Exhibit A” 

Being a tract or parcel containing 0.9153 acre (39,870 square feet) of land situated in the James Alston Survey, Abstract Number 101, Fort Bend County. Texas;
being out of and all of the 0.9153 acre tract conveyed to Meadvest Limited Partnership, a record in Fort Bend County Clerk’s (F.B.C.C.F) Number 966930 and Harris County Clerk’s File Number S174462, and being out of and a part of a certain
called 22,941 acre tract of record in Volume 1396, Page 417, F.B.C.D.R., said 0.95153 acre tract being more particularly described as follows (bearings are based on said deed of record in Volume 2223, Page 59, F.B.C.D.R.); 

COMMENCING for reference at a 5/8-inch iron found marking the intersection of the southwesterly right-of-way (R.O.W.) line of Dorrance Lane (width varies) and the northwesterly R.O.W. line of U.S Highway 59 (300 feet wide), marking the beginning of a curve to the right;

 THENCE, 49.96 feet, along said southwesterly R.O.W line and the arc of said curve to the right, having a radius of 500.00 feet, a central angle of 05
deg. 43 min 30 sec and a chord which bears North 43 deg. 03 min 12 West, 49.94 feet to a 5/8-inch iron rod found marking a point of tangency; 

THENCE, North 40 deg. 11 min. 30 sec. West, continuing along said southwesterly R.O.W line, a distance of 0.12 feet to a
5/8-inch rod found marking the most easterly corner and POINT OF BEGINNING of the herein described tract; 
 THENCE,
South 44 deg. 05 min. 00 sec. West, along and parallel with the northwesterly R.O.W line of said U.S. Highway 59, a distance of 199.56 feet to and “X” set in concrete marking the most southerly corner of the herein described tract; 

THENCE, North 45 deg. 55 min. 00 sec. West, a distance of 194.00 feet to an “X” set in concrete marking the most Westerly corner of the herein
described tract; 
 THENCE, North 44 deg. 05 min. 00 sec. East, a distance of 207.00 feet to a 5/8 inch iron rod with cap set in the aforementioned
southwesterly R.O.W line of Dorrance Lane marking the most northerly corner of the herein described tract; 
 THENCE, along said southwesterly R.O.W line
the following courses: 
 South 45 deg. 55 min. 00 sec. East, a distance of 94.75 feet to a 5/8-inch
iron rod found      marking a point of curvature to the right; 
 49.96 feet along the arc of said curve to the right,
having a radius of 500.00 feet, a     central angel of 05 deg. 43 min. 30 sec., and a chord which bears South 43 deg. 03 min. 15 sec. East, 49.94 feet to a 5/8-inch iron rod found marking a
point of tangency; 
 South 40 deg. 11 min. 30 sec. East, a distance of 49.62 feet to the POINT OF BEGINNING and containing 0.9153 acre
(39,870 square feet) of land. 
 “Exhibit A” 

LEGAL DESCRIPTION 

  
 7 

 TRACT I 
 BEING A
TRACT OR PARCEL OF LAND CONTAINING 8.2390 ACRES (358,892 SQUARE FEET) OUT OF A CALLED 8.7749 ACRE TRACT AS CONVEYED TO SAM’S REAL ESTATE BUSINESS TRUST AS DESCRIBED IN DEED RECORDED UNDER CLERKS FILE NO 9718991 DEED RECORDS HARRIS COUNTY, TEXAS
SITUATED IN THE JAMES ALSTON SURVEY ABSTRACT NUMBER 101, FORT BEND COUNTY, TEXAS, BEING A PORTION OF THAT CERTAIN CALLED 22.941 ACRE TRACT OF RECORD IN VOLUME 1396, PAGE 417 OF THE FORT BEND COUNTY DEED RECORDS, FORT BEND COUNTY, TEXAS, SAID 8.2390
ACRE TRACT BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS 
 COMMENCING AT A 5/8 INCH IRON ROD FOUND MARKING THE INTERSECTION OF THE
SOUTHWESTERLY RIGHT-OF-WAY (R O.W) LINE OF DORRANCE LANE (WIDTH VARIES) WITH THE NORTHWESTERLY R O.W LINE OF THE US HIGHWAY 59 (400’ WIDE) BEING THE EAST CORNER OF
A CALLED 0.9153 ACRE TRACT DESCRIBED IN DEED RECORDED UNDER CLERK’S FILE NO 9669300 DEED RECORDS FORT BEND COUNTY, TEXAS. 
 THENCE SOUTH 44 DEGREES 05
MINUTES 00 SECONDS WEST, ALONG THE NORTHWESTERLY R.O.W LINE OF SAID U.S. HIGHWAY 59, A DISTANCE OF 199.55 FEET TO A 5/8 INCH IRON ROD SET FOR THE POINT OF BEGINNING OF THE HEREIN DESCRIBED TRACT, 

THENCE SOUTH 44 DEGREES 05 MINUTES 00 SECONDS WEST, CONTINUING ALONG SAID NORTHWESTERLY R.O.W LINE OF SAID US HIGHWAY 59, A DISTANCE OF 466.82 FEET TO A 5/8
INCH CAPPED IRON ROD SET IN THE NORTHEAST LINE OF A CALLED 7.00 ACRE TRACT OF LAND RECORDED IN VOLUME 28, PAGE 16 OF THE FORT BEND COUNTY PLAT RECORDS, 

THENCE NORTH 45 DEGREES 55 MINUTES 00 SECONDS WEST, ALONG THE NORTHEASTERLY LINE OF SAID 7.00 ACRE TRACT, A DISTANCE OF 571.47 FEET TO A 5/8 INCH IRON ROD SET
FOR THE MOST WESTERLY CORNER OF THE HEREIN DESCRIBED TRACT, 
 THENCE NORTH 44 DEGREES 05 MINUTES 00 SECONDS EAST, A DISTANCE OF 353.18 FEET TO AN ANGLE
PONT, FROM WHICH AN “X” FOUND IN CONCRETE BEARS NORTH 08 DEGREES 52 MINUTES 22 SECONDS WEST, 0.43 FEET, 
 THENCE NORTH 24 DEGREES 18 MINUTES 46
SECONDS EAST, A DISTANCE OF 295.73 FEET TO A POINT IN THE SOUTHWESTERLY R.O.W LINE OF THE AFOREMENTIONED DORRANCE LANE, FROM WHICH A CAPPED IRON ROD FOUND BEARS NORTH 61 DEGREES 17 MINUTES 53 SECONDS EAST, 0.41 FEET 

THENCE ALONG SAID SOUTHWESTERLY R.O.W. LINE, A DISTANCE OF 302.00 FEET ALONG THE ARC OF A CURVE TO THE RIGHT, HAVING A RADIUS OF 1070.00 FEET, A CENTRAL ANGLE
OF 16 DEGREES 10 MINUTES 17 SECONDS, AND A CHORD WHICH BEARS SOUTH 54 DEGREES 00 MINUTES 08 SECONDS EAST, 301.00 FEET TO A 5/8 INCH CAPPED IRON ROD FOUND MARKING THE END OF SAID CURVE. 

  
 8 

 THENCE SOUTH 45 DEGREES 55 MINUTES 00 SECONDS EAST, CONTINUING ALONG SAID SOUTHWESTERLY R.O.W. LINE, A DISTANCE
OF 179.50 FEET TO A 5/8 INCH CAPPED IRON FOUND MARKING THE NORTH CORNER OF SAID 0.9153 ACRE TRACT, 
 THENCE SOUTH 44 DEGREES 05 MINUTES 00 SECONDS WEST,
DEPARTING SAID SOUTHWESTERLY R.O.W LINE ALONG THE NORTHWEST LINE OF SAID 0.9153 ACRE TRACT A DISTANCE OF 206.99 (CALLED 207.00 FEET) TO AN “X” FOUND IN CONCRETE FOR CORNER, 

THENCE SOUTH 45 DEGREES 55 MINUTES 00 SECONDS EAST ALONG THE SOUTHWEST LINE OF SAID 0.9153 ACRE TRACT, A DISTANCE OF 193.99 FEET TO THE POINT Of BEGINNING AND
CONTAINING 8.2390 ACRES (358,892 SQUARE FEET) OF’ LAND 
 TRACT II 

A PARCEL OF LAND CONTAINING 4.0000 ACRES (174,240 SQUARE FEET) BEING PART OF AND OUT OF THAT CERTAIN 16.9242 ACRE TRACT IN THE JAMES ALSTON SURVEY, ABSTRACT NO
101, IN FORT BEND COUNTY, TEXAS, AND THE JOHN ALSTON SURVEY ABSTRACT NO 100, IN HARRIS COUNTY, TEXAS. BEING ALL OF RESERVE “C” OF MEADOWS CENTER, SECTION ONE RECORDED IN FILM CODE NUMBER 346133 OF THE MAP RECORDS OF HARRIS COUNTY, TEXAS
AND RECORDED UNDER SLIDE CODE NO 1086/A OF PLAT RECORDS OF FORT BEND COUNTY, TEXAS, SAID 4.000 ACRES BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS 

BEGINNING AT A 3/4 INCH IRON FOUND MARKING THE SOUTH CORNER Of SAID RESERVE “C” AND THE WEST CORNER OF RESERVE “A” OF SAID MEADOWS CENTER,
SECTION ONE, IN THE NORTHEASTERLY LINE OF DORRANCE LANE (60’ WIDE), 
 THENCE NORTH 44 DEGREES 11 MINUTES 42 SECONDS EAST ALONG THE COMMON LINE OF SAID
RESERVES “C” AND “A” FOR A DISTANCE OF 444.53 FEET TO A POINT FOR CORNER, FROM WHICH A 5/8 INCH IRON ROD FOUND BEARS SOUTH 81 DEGREES 33 MINUTES 56 SECONDS EAST, 0 34 FEET 

THENCE NORTH 70 DEGREES 00 MINUTES 50 MINUTES WEST, FOR A DISTANCE OF 521.52 FEET TO A 5/8 INCH IRON ROD FOUND FOR CORNER, 

THENCE SOUTH 44 DEGREES 11 MINUTES 42 SECONDS WEST, FOR A DISTANCE OF 323.51 FEET TO A 5/8 INCH IRON FOUND FOR CORNER, ON THE NORTHEAST RIGHT-OF-WAY LINE OF DORRANCE LANE. 60 FEET WIDE; 
 THENCE IN SOUTHEASTERLY
DIRECTION ALONG THE NORTHEAST RIGHT-OF-WAY LINE OF DORRANCE LANE, 60 FEET WIDE, BEING A CURVE TO THE RIGHT OF 

  
 9 

 
HAVING A RADIUS OF 1,130.00 FEET AND A CENTRAL ANGLE OF 23 DEGREES 16 MINUTES 39 SECONDS. FOR AN ARC DISTANCE OF 459.09 FEET HAVING A CHORD BEARING AND DISTANCE OF SOUTH 57 DEGREES 32 MINUTES 47
SECONDS EAST, 455.94 FEET TO A 5/8 INCH CAPPED IRON ROD FOUND FOR A POINT OF TANGENCY. 
 THENCE SOUTH 45 DEGREES 55 MINUTES 00 SECONDS EAST, CONTINUING
ALONG THE NORTHEAST RIGHT-OF-WAY LINE OF DORRANCE LANE 60 FEET WIDE FOR A DISTANCE OF 29.26 FEET TO THE PLACE OF BEGINNING AND CONTAINING 4.0000 ACRES (174,240 SQUARE
FEET) OF LAND, 
 TRACT III 
 BEING A TRACT OR PARCEL OF LAND
CONTAINING 0.5676 ACRES (24,723 SQUARE FEET) OF LAND SITUATED IN THE JAMES ALSTON SURVEY, ABSTRACT NUMBER 101, FORT BEND COUNTY, TEXAS, BEING A PORTION OF THAT CERTAIN CALLED 22.941 ACRE TRACT OF RECORD IN VOLUME 1396, PAGE 417 OF THE FORT BEND
COUNTY DEED RECORDS, FORT BEND COUNTY, TEXAS, SAID 0.5676 ACRE TRACT BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS 
 COMMENCING AT A 5/8 INCH IRON ROD FOUND
MARKING THE INTERSECTION OF THE SOUTHWESTERLY RIGHT-OF-WAY (R.O.W) LINE OF DORRANCE LANE (WIDTH VARIES) WITH THE NORTHWESTERLY R.O.W LINE OF U.S. HIGHWAY 59 (WIDTH
VARIES); AND BEING THE EAST CORNER OF A 0.9153 ACRE TRACT DESCRIBED IN DEED RECORDED UNDER CLERK’S FILE NO 9669300 OF THE DEED RECORDS FORT BEND COUNTY, TEXAS; 

THENCE SOUTH 44 DEGREES 05 MINUTES 00 SECONDS WEST, ALONG THE NORTHWESTERLY R.O.W LINE OF SAID U.S. HIGHWAY 59, AND IN PART WITH THE SOUTHWEST LINE OF SAID
0.9153 ACRE TRACT, A DISTANCE OF 663.87 FEET TO A 5/8 INCH CAPPED IRON ROD SET IN THE NORTHEAST LINE OF THAT CERTAIN CALLED 7.00 ACRE TRACT OF RECORD IN VOLUME 28, PAGE 16 OF THE FORT BEND COUNTY PLAT RECORDS; 

THENCE NORTH 45 DEGREES 55 MINUTES 0 SECONDS WEST. ALONG THE NORTHEASTERLY LINE OF SAID 7.00 ACRE TRACT, A DISTANCE OF 571.47 FEET TO A 5/8 INCH CAPPED IRON
ROD SET FOR THE POINT OF BEGINNING OF THE HEREIN DESCRIBED TRACT AND THE NORTHWESTERLY CORNER OF A CALLED 8.7749 ACRE TRACT 
 THENCE CONTINUING NORTH 45
DEGREES 55 MINUTES 00 SECONDS WEST, A DISTANCE Of 70.00 FEET TO A 5/8 INCH IRON ROD SET FOR THE NORTHWESTERLY CORNER OF HEREIN DESCRIBED TRACT 
 THENCE
NORTH 44 MINUTES 05 MINUTES 00 SECONDS EAST, A DISTANCE OF 353.18 FEET TO A POINT IN CONCRETE FOR THE NORTHEASTERLY CORNER Of THE HEREIN DESCRIBED TRACT. FROM WHICH A NAIL FOUND BEARS SOUTH 20 DEGREES 48 MINUTES 10 SECONDS EAST, 1 67 FEET, 

  
 10 

 THENCE SOUTH 45 DEGREES 55 MINUTES 00 SECONDS EAST, A DISTANCE OF 70.00 FEET TO A POINT FOR SOUTHEASTERLY CORNER
SAME POINT LYING IN THE NORTH LINE OF SAID 8.7749 ACRE TRACT, FROM MUCH AN “X” FOUND BEARS NORTH 08 DEGREES 52 MINUTES 22 SECONDS WEST, 0.43 FEET, 

THENCE SOUTH 44 DEGREES 05 MINUTES 00 SECONDS WEST, ALONG THE NORTHERLY LINE OF SAID 8.7749 TRACT, A DISTANCE OF 353.18 FEET TO THE POINT OF’ BEGINNING
AND CONTAINING 0.5676 ACRES (24,723 SQUARE FEET) OF LAND 
 Exhibit A 

  
 11 

 Terms, conditions and stipulations contained in that certain Cathodic Protection Easement granted to Shell Pipe
Line Corporation as set forth and defined in instrument recorded In Volume 1907, Page 269, of the Official Records of Fort Bend County, Texas. (As to Tract 1 and 3) 

As noted only on survey dated April 2, 2001, prepared by John Bernard, R.P.L.S. No 4663. 

Water line easement(s) and water meter easement(s) granted to the Meadows Municipal Utility District as set forth and defined in Instrument recorded in Volume
2244, Page 280, of the Official Records of Fort Bend County, Texas (As to Tract 1) 
 As noted only on Survey dated April 2, 2001, prepared by John
Bernard, R.P.L.S. No. 4663. 
 Terms, conditions and stipulations contained in that certain Declaration of Restrictions and Grant of Easements as set
forth and defined in instrument recorded in Volume 2211, Page 533, of the Official Records of Fort Bend County, Texas (As to Tract 1 and 3) 
 As noted only
on survey dated April 2, 2001, prepared by John Bernard, R.P.L.S. No. 4663. 
 Terms, conditions and stipulations contained in that certain
Declaration of Restrictions and Grant of Easements as set forth and defined in instrument recorded in Volume 2211, Page 520, of the Official Records of Fort Bend County, Texas and under Harris County Clerk’s File No, M639502 (As to Tract 2)

 As noted only on survey dated April 2, 2001, prepared by John Bernard, R.P.L.S. No. 4663. 

Water line easement(s), utility easement(s) and storm sewer easement(s) granted to the Meadows Municipal Utility District as set forth, defined and further
located in instrument recorded in Volume 1640, Page 690, of the Official Records of Fort Bend County, Texas. (As to Tract 1 & 3) 
 As shown on survey
dated April 2, 2001, prepared by John Bernard, R.P.L.S. No. 4663. 
 Sign(s), sanitary man hole(s), as shown on survey dated April 2, 2001,
prepared by John Bernard, R.P.L.S. No. 4663. 
 Those recorded in Declaration of Restrictions and Grant of Easements recorded in Volume 2211, Page 533,
of the Official Records of Fort Bend County, Texas (As to Tract 1 and 3), those recorded In Declaration of Restrictions and Grant of Easements recorded in Volume 2211, Page 520, of the Official Records of Fort Bend County, Texas and under Harris
County Clerk’s File No. M639502 (As to Tract 2) and those recorded under Slide No. 1086/A, of the Plat Records of Fort Bend County, Texas and those recorded under Film Code No. 346133, of the Map Records of Harris County, Texas. (As to
Tract 2) 
 Deleting any unlawful discriminatory provisions based on race, color, religion, sex, handicap, familial status or national origin. 

Any discrepancies, conflicts, or shortages in area or boundary lines, or any encroachments, or protrusions, or any overlapping of improvements. 

  
 12 

 A Sanitary sewer easement and building set back line 10 feet in width located along Dorrance Lane as provided for
in right-of-way Deed recorded in Volume 507, Page 166, of the Deed Records of Fort Bend County, Texas. (As to Tract 1, 2, and 3) Same being shown on the map or plat
recorded under Slide No. 1086/A, of the Plat Records of Fort Bend County, Texas and under Film Code No. 346133, of the Map Records of Harris County, Texas. (As to Tract 2 only) 

As shown on survey dated April 2, 2001, prepared by John Bernard, R.P.L.S. No. 4663. 

Storm sewer and sanitary sewer easement granted to the Meadows Municipal Utility District as set forth, defined and located in Instrument recorded in Volume
1105, Page 234, of the Deed Records of Fort Bend County, Texas. (As to Tract 1 and 3) 
 Same having been partially released as set forth and defined in
instrument recorded in Volume 1640, Page 690, of the Official Records of Fort Bend County, Texas. 
 As noted only on survey dated April 2, 2001,
prepared by John Bernard, R.P.L.S. No. 4663. 
 Easements granted to Houston Lighting and Power Company as set forth, defined and
further located in Instrument recorded in Volume 1508, Page 634, of the Office Records of Fort Bend County, Texas (As to Tract 1) 
 As noted
only on survey dated April 2, 2001, prepared by John Bernard, R.P.L.S. No. 4663. 
 Any and all leases recorded or unrecorded with rights of
tenants in possession (As to Tracts 1, 2, and 3) 
 Subject property has frontage or abuts U.S. highway 59 (Southwest Freeway) which is a controlled access
highway. The Company by this policy does not insure against the exercise of power by competent governmental authority to limit, control or deny access, ingress or egress to the above-described property from U.S. Highway 59 (Southwest Freeway) or
service road which the subject property abuts, nor does it insure that the assured has or shall continue to have access, ingress, and egress from such property to and from such highway and service road. (As to Tracts 1 and 3) 

Zoning Ordinances by the City of the Meadows, Texas. (As to Tracts 1, 2, and 3) 

Drainage easement 15 feet in width on each side of the center line of all natural drainage courses as shown by the recorded plat(s) of said subdivision. (As
to Tract 2) 
 All oil, gas and other minerals, the royalties, bonuses, rentals and all other rights in connection with same are expected here from as set
forth in instrument recorded in Volume 1907, Page 1992, of the Official Records of Fort Bend County, Texas. (As to Tracts 1, 2, and 3) Surface rights not waived. Title to said interest not checked subsequent to date of aforesaid instrument. 

Exhibit “B” 

ORDINANCE 2011- 19 

  
 13 

 AN ORDINANCE OF THE CITY OF MEADOWS PLACE, TEXAS, GRANTING A SPECIFIC USE PERMIT AUTHORIZING
USE OF APPROXIMATELY 34.89 ACRES OF LAND IN THE CITY OF MEADOWS PLACE AS A SPECIFIC USE- TRANSPORTATION, AUTOMOTIVE AND RELATED USES: AUTO OR MOTORCYCLE SALES, AUTO PARTS SALES, AUTOMOBILE SERVICE STATIONS,
AND AUTOMOBILE SERVICES; PROVIDING LIMITATIONS, RESTRICTIONS, AND CONDITIONS ON SUCH USE; DESCRIBING SUCH 34.89 ACRES OF LAND; AMENDING THE ZONING DISTRICT MAP OF THE CITY AS ADOPTED BY ORDINANCE NO. 85-036
ADOPTED ON DECEMBER 5, 1985, AS AMENDED; REPEALING ALL ORDINANCES OR PARTS OF ORDINANCES IN CONFLICT HEREWITH; PROVIDING A PENALTY; AND PROVIDING FOR SEVERABILITY. 

*                *       
         *                *                *

 WHEREAS, Sohani Heritage Trust and Beechnut FEC, LLC (“Owners”) are the owners of approximately 12.80 acres of land and
22.09 acres of land within the corporate limits of the City of Meadows Place, Texas (“City”) respectively; and 
 WHEREAS,
the 12.80 acres of land and 22.09 acres, total acreage 34.89 acres (“Property”), is currently zoned C-2 Commercial District; and 

WHEREAS, the Owners have provided written authorization for Left Gate Property Holding, Inc. d/b/a Texas Direct Auto to apply for a
Special Use Permit from the City authorizing the specific use of “Transportation, Automotive and Related Uses: Auto or Motorcycle Sales, Auto Parts Sales, Automobile Service Stations, and Automobile Services” on the Property; and 

WHEREAS, Left Gate Property Holding, Inc. d/b/a Texas Direct Auto (“Applicant”) submitted an application
(“Application”) to the City for a Special Use Permit authorizing the specific use of “Transportation, Automotive and Related Uses: Auto or Motorcycle Sales, Auto Parts Sales, Automobile Service Stations, and Automobile Services”
on the Property; and 
 WHEREAS, the City Planning and Zoning Commission and the City Council of the City of Meadows Place conducted,
in the time and manner and after the notice required by law and the City of Meadows Place zoning ordinance, a joint public hearing on the Application; and 

WHEREAS, all persons appearing at such joint public hearing who desired to speak on the Application were afforded that opportunity and
their comments were duly noted and considered; and 
 WHEREAS, after the joint public hearing, the Planning and Zoning Commission of
the City of Meadows Place made its recommendation and final report to the City Council; and 
 WHEREAS, the City Council of the City
of Meadows Place now deems it appropriate to grant the Specific Use Permit (“SUP”) requested in the Application; 
 NOW
THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF MEADOWS PLACE, TEXAS: 

  
 14 

 Section 1. The facts and recitations set forth in the preamble of this
Ordinance are hereby found to be true and correct. 
 Section 2. The joint public hearing before the City Council
of the City of Meadows Place and the City’s Planning and Zoning Commission on the Application for a Specific Use Permit is declared closed prior to the final adoption of this Ordinance. 

Section 3. Presently, said 34.89 acre tract of land has a zoning classification of
C-2 Commercial. The 34.89 acres of land are more fully described in Exhibit “A” attached hereto and made a part hereof for all purposes. 

Section 4. The Specific Use of Property authorized and permitted by this Ordinance is as a “Transportation,
Automotive and Related Uses: Auto or Motorcycle Sales, Auto Parts Sales, Automobile Service Stations, and Automobile Services,” 

Section 5. The Specific Use authorized and permitted by this Ordinance shall be developed in accordance with the
Meadows Place Code of Ordinances and shall be developed subject to the following limitations, restrictions, and conditions: 

a.    Additional use requirements. It shall be unlawful for any person to make use of the Property except in
accordance with the uses permitted in a C-2 Commercial District, with the performance standards set forth in Sections 153.060 through 153.079 and with the additional regulations listed below. 

b.    Trash and laundry. The trash and laundry regulations for a C-2
Commercial District contained in Section 153.095 of the City of Meadows Place Code of Ordinances shall apply. 

c.    Sidewalk sales. The sidewalk sales regulations for a C-2 Commercial
District contained in Section 153.095 of the City of Meadows Place Code of Ordinances shall apply. 

d.    Standard regulations – commercial structures. The standard regulations- commercial structures for a C-2 Commercial District contained in Section 153.095 of the City of Meadows Place Code of Ordinances shall apply. 

e.    Parking. The parking regulations for a C-2 Commercial District
contained in Section 153.095 of the City of Meadows Place Code of Ordinances shall apply. All parking surfaces shall be concrete paving. There shall be no loading or unloading of any vehicles on any public right-of-way. 
 f.    Screening. The screening regulations contained in
Section 153.072 of the City of Meadows Place Code of Ordinances shall apply. Fencing shall have a minimum ten (10) foot setback from any curb right-of-way.

 g.    Outdoor lighting. The outdoor lighting regulations for a C-2
Commercial District contained in Section 153.095 of the City of Meadows Place Code of Ordinances shall apply. 

  
 15 

 h.    Antennas. The antenna regulations for a C-2 Commercial District contained in Section 153.095 of the City of Meadows Place Code of Ordinances shall apply. 

i.    Architectural commercial aesthetics. The architectural commercial aesthetics contained in Section 153.097
of the City of Meadows Place Code of Ordinances shall apply. 
 j.    Signs. The sign regulations contained in
Section 153.198 of the City of Meadows Place Code of Ordinances shall apply. 
 k.    Assignment. This SUP is
granted only to the Applicant. No assignment by Applicant of this SUP shall occur unless an application for assignment is submitted to the City Council. Such assignment application shall contain financial information of the proposed assignee along
with any other information deemed necessary by the City Council. The City Council shall conduct a hearing on the assignment application. The City Council will not unreasonably withhold approval of an assignment application. Subleasing is not
considered an assignment so long as Applicant remains as lessor. Applicant shall remain liable for all terms and conditions of this Ordinance and any development agreement. 

l.    Taxes. Applicant is not the owner of the Property; however, in the event that delinquent taxes are owed on the
Property by the owner(s), the City may repeal this SUP. The City also may commence with any legal action to collect such taxes owed. 

m.    Reimbursement. Applicant shall reimburse the City any costs associated with preparation of this SUP. Such
reimbursement shall occur within thirty (30) days of the City sending a written invoice to the Applicant. 

n.    Expiration. This SUP shall expire in two (2) years from the date of adoption if no certificate of
occupancy is filed by Applicant and granted by the City. Applicant may request that City Council extend the expiration date by submitting to the City Council an extension application no later than sixty (60) days before the expiration date. The
City Council shall conduct a hearing on the expiration application. The City Council shall determine whether to grant such an extension and for how long. All building, structures, and improvements must be complete no later than 5 years from the date
of this Ordinance. 
 o.    Waiver. There shall not at any time be any waiver or attempted waiver of the terms or
provisions of this Ordinance. 
 p.    Repeal. The City Council may repeal this SUP if any of the terms or
conditions contained in this Ordinance, the City’s Code of Ordinances, or any development agreement is violated. 

Section 6.    The Zoning District Map of the City of Meadows Place, Texas, shall be revised and
amended to show the specific use permitted on said 34.89 acre tract of land as granted by the Ordinance, with the appropriate reference to the number and effective date of this Ordinance. 

  
 16 

 Section 7.    This Ordinance shall in no manner
amend, change, supplement, or revise any provision of any ordinance of the City of Meadows Place, Texas, save and except the change in the specific use of the land described in Section 3 hereof authorizing the Specific Use-”Transportation, Automotive and Related Uses; Auto or Motorcycle Sales, Auto Parts Sales, Automobile Service Stations, and Automobile Services” and the imposition of the limitations, restrictions, and
conditions contained herein. 
 Section 8.    Repeal. Any ordinance or any part of an
ordinance in conflict herewith shall be and is hereby repealed only to the extent of such conflict. 

Section 9.    Penalty. Any person who violates or causes, allows or permits another to
violate any provision of this Ordinance shall be deemed guilty of a misdemeanor and, upon conviction thereof, shall be punished by a fine of not more than two thousand dollars ($2000.00). Each occurrence of any such violation of this Ordinance shall
constitute a separate offense. Each day on which any such violation of this Ordinance occurs shall constitute a separate offense. 

Section 10.    Severability. In the event any clause, phrase, provision, sentence or part
of this Ordinance or the application of the same to any person or circumstances shall for any reason be adjudged invalid or held unconstitutional by a court of competent jurisdiction, it shall not affect, impair, or invalidate this Ordinance as a
whole or any part or provision hereof other than the part declared to be invalid or unconstitutional; and the City Council of the City of Meadows Place, Texas, declares that it would have passed each and every part of the same notwithstanding the
omission of any part thus declared to be invalid or unconstitutional, or whether there be one or more parts. 

  
 17 

 PASSED, APPROVED and ADOPTED this the 28 day of June, 2011. 

 

	
	   /s/ Charles Jessup 

	Charles Jessup, Mayor

  

	
	ATTEST:
	
	   /s/ Elaine Herff

	 Elaine Herff, City Secretary

  
 18 

 

 

  
 19 

 WHO IS TEXAS DIRECT AUTO 

With over half a billion in annual sales, Texas Direct Auto is the largest independent dealership in the nation and is the largest eBay Motor’s
Dealership in the World. 
 Texas Direct Auto was founded by Rick Williams and Mike Welch, two high-tech Texans with no background in the auto industry.
After selling their successful software company in 2001, they began working on their next project – Texas Direct Auto. Through countless hours, lots of automation and good old fashioned hard work, they have grown from a small store with only 3
employees, selling only 10 units a month, to the largest dealership of its kind with 300 employees, selling 1700-2000 units every month. 
 We are seeking a
Specific Use Permit from the City of Meadow’s Place to allow us to expand our growing operation. As part of this expansion, we plan to invest a significant amount of money upgrading and beautifying the aging retail center. This includes a new
highway 59 retail facade, a Dorrance Lane face lift, neighborhood signs, the installation of a Dog Park, and more. 
  
 

 

  
 20 

 

 

  
 21 

 

 

  
 22 

 

 

  
 23 

 

 

  
 24 

 

 

  
 25 

 POTENTIAL RETAIL SALES TAX IMPACT 

 

					
	 Retail Space
	  	 	45000	 
	 Parking Estimate
	  	 	331	 

  

									
	 Taxable Retail Sales
	  	Low	 	  	High	 
	 NAPA Retail (Non TDA)
	  	$	35,000	 	  	$	45,000	 
	 NAPA Retail (*TDA Warranty/Other)
	  	$	75,000	 	  	$	90,000	 
	 Leased Retail Spaces ($1 - $3)
	  	$	45,000	 	  	$	135,000	 
		  	$	155,000	 	  	$	270,000	 
		  	  
	  
	 	  	  
	  
	 
	 Totals - Annual (12 mo)
	  	$	1,860,000	 	  	$	3,240,000	 
			
	    TDA Warranty/Other is based on 1700 Retail Units	  				  			
			
	 Other Revenues
	  	Low	 	  	High	 
	 VIT Sales Revenue
	  	$	1,000,000	 	  	$	2,000,000	 
		  	  
	  
	 	  	  
	  
	 
	 Totals - Annual (12 mo)
	  	$	12,000,000	 	  	$	24,000,000	 
	  
     We except to retail 100-200
units a month avg price $10,000 per unit
 

                                    
            
	 
  

 

 Taxable Retail Sales are broken into three parts. Both NAPA estimates are based on historical performance at locations
in like areas, as well as estimated return service/warranty penetration on 1700 units a month. We’re less certain on the leased space. These numbers were derived by plugging in published ranges into the 45,000 SQFT of retail space that
we’ll have available. 
 Other Revenues are sales revenues that Vehicle Inventory Tax (VIT) can be charged on. This will require TDA to setup a
separate dealer license and complete the sale out of the new store. We’re estimating 100-200 retail sales a month with this arrangement. 

  
 26 

 

 

  
 27 

 EXHIBIT D 

MEMORANDUM OF DEVELOPMENT AGREEMENT 
  

					
	THE STATE OF TEXAS	 	§	  	
		 	§	  	        KNOW EVERYONE BY THESE PRESENTS:
	COUNTY OF FORT BEND        	 	§	  	

 A Development Agreement (the “Agreement”) was made and entered into as of June 28, 2011, by and
between the CITY OF MEADOWS PLACE, TEXAS (the “City”), a municipal corporation in Fort Bend County, Texas, acting by and through its governing body, the City Council and LEFT GATE PROPERTY HOLDING, INC. d/b/a TEXAS DIRECT AUTO (the
“Developer”). 
 The Developer leases approximately 34.89 acres of land more particularly described in
Exhibit A attached hereto incorporated here in for all purposes (“Property”). 
 The purpose of the
Agreement is to define the City’s regulatory authority over the Property, to establish certain restrictions and commitments imposed and made in connection with the development of the Property for use as a Transportation, Automotive and Related
Uses: Auto or Motorcycle Sales, Auto Parts Sales, Automobile Service Stations, and Automobile Services, to provide certainty to the Landowner concerning regulation of the Property, and to identify and establish a plan and development guidelines for
the development of the Property. 
 A copy of the Agreement, and all exhibits, and supplements or amendments thereto, may be obtained from
the City Secretary of the City of Meadows Place, Texas, upon payment of duplicating costs. 
 EXECUTED as of June 28, 2011 

 

							
		 		  	CITY OF MEADOWS PLACE, TEXAS
				
		 		  	By:	 	 /s/ Charles Jessup

		  	Charles Jessup, Mayor
			
	ATTEST:	  		 	
				
	By:	 	 /s/ Elaine Herff
	  		 	
	Elaine Herff, City Secretary	  		 	

  
 28 

							
			
		 		  	 LEFT GATE PROPERTY HOLDING, INC.

d/b/a TEXAS DIRECT AUTO

				
		 		  	By:	 	 /s/ Mike Welch

		 		  	 Name: Mike Welch
 Title:
Secretary

  
 29 

 FIRST AMENDMENT TO DEVELOPMENT AGREEMENT 

This First Amendment to Development Agreement (this “Amendment”) is entered into this 31 day of December, 2019 (the
“Amendment Effective Date”) by and between THE CITY OF MEADOWS PLACE, TEXAS (the “City”) and LEFT GATE PROPERTY HOLDING, LLC D/B/A Texas Direct Auto and Vroom, successor-in-interest to Left Gate Property Holding, Inc. D/B/A Texas Direct Auto (“Developer”). 

RECITALS 
 WHEREAS, the
City and Left Gate Property Holding, Inc. d/b/a Texas Direct Auto (predecessor-in-interest to Developer) entered into that certain Development Agreement between the City
of Meadows Place, Texas, and Left Gate Property Holding, Inc. d/b/a Texas Direct Auto, dated June 28, 2011, attached hereto as Exhibit 1 (the “Original Agreement”); 

WHEREAS, Left Gate Property Holding, Inc. was subsequently converted from a Texas corporation to a Texas limited liability company, Left Gate
Property Holding LLC; and 
 WHEREAS, the City and Developer desire to amend the Original Agreement to make certain changes to the Original
Agreement as are set forth in this Amendment. 
 AGREEMENT 

NOW THEREFOR, FOR AND IN CONSIDERATION of the mutual promises, covenants, benefits and obligations hereinafter set forth and other good and
valuable consideration, the receipt and sufficiency of which are acknowledged, the City and Developer hereby agree that the Original Agreement is amended as set forth herein. Unless otherwise expressly provided in this Amendment, defined terms used
in this Amendment shall have the meanings ascribed to them in the Original Agreement. 
 1.    Section 3.04 of
the Original Agreement is hereby amended to add the following paragraph to the end of such section: 
 “Developer agrees
to install, maintain, and repair a French drain, or similar drainage system after securing City’s written approval of such alternative drainage method, on the West side of the dog park. Developer further agrees to
re-landscape the dog park, removing all existing water features which are in place as of the Amendment Effective Date, and to maintain and repair such landscaping. Developer shall install, maintain, and repair
a water fountain which is designed to accommodate dogs. Developer agrees to complete the improvements and renovations contained in this Section 3.04 within one hundred twenty (120) days of the Amendment Effective Date.
Developer further agrees to allow the City of Meadows Place Police Department to install and access a camera system in the dog park. Such camera system shall be installed and accessed at the sole cost of, and in the discretion of, the City of
Meadows Place Police Department, and Developer shall have no responsibility or liability in connection therewith. Developer further agrees to install, maintain, and repair prominent signage in the dog park that states, “This Dog Park is
maintained by Texas Direct Auto. Please Contact Texas Direct  

  
 30 

 
Auto at the following e-mail address with any questions or concerns: dogpark@texasdirectauto.com.” Developer agrees to take corrective action
within 10 business days for complaints or concerns received regarding items in the dog park in need of repair. 

2.    ARTICLE III of the Original Agreement is hereby amended to add the following section at the end of such
article: 
 “Section 3.10. No Parking in Alleyway. The Developer
agrees to use reasonable efforts to keep the alleyway which extends from Troyan Drive to Dorrance Lane, as depicted on Schedule 1 attached hereto, clear of obstructions, including but not limited to, parked vehicles. Developer agrees to paint the
alleyway curbs red and to install, maintain, and repair fire lane striping and signage indicating that the alleyway is a fire lane. Section 4.01(a)6 of the Original Agreement is hereby amended to add the following paragraph
at the end of such section: 
 “Developer agrees to pay to the City an amount of ten thousand dollars ($10,000) per
month (“Developer Payment”) during the term of this Agreement. Such payment shall be made on the first (1st) of each month, beginning on the first month following the
Amendment Effective Date and continuing through the Expiration Date. For the avoidance of doubt, the parties acknowledge and agree that no such payment is owed or payable in respect of any period preceding the Amendment Effective Date. In the event
that a tenant occupies retail space in the Property, Developer will notify the City of such tenancy, and if such tenant generates sales tax revenue in any month, the City shall rebate to Developer an amount equal to the lesser of (i) the
City’s collected share of the sales tax revenue received for such month and (ii) the Developer Payment for such month. Such rebated amount, if applicable, shall be paid to Developer within fifteen (15) business days after the date the
City receives from the Secretary of State of Texas information regarding the specific amount of sales tax revenue generated by the tenant. If the amount of sales tax revenue actually received by the City from the tenant exceeds $10,000 per month for
any three (3) consecutive months, then the payment by Developer to the City and the rebate from the City to Developer shall be suspended until and if the sales tax revenue actually received by the City falls below $10,000 in any individual
month, in which case Developer payments and City rebates shall automatically be reinstated. Developer agrees that the sales and sales tax information for any tenant which occupies retail space in the Property shall remain confidential. Developer
shall have no right to audit any such sales or sales tax information.” 
 3.    The Original Agreement is hereby
amended by deleting Section 5.02 in its entirety and replacing it with the following: 

“Section 5.02. Term. This Agreement shall bind the parties and
continue through December 31, 2024 (the “Expiration Date”), unless terminated on an earlier date pursuant to other provisions, or by express written agreement executed

  
 31 

 
by the City and Developer. Upon the expiration of this Agreement, the Agreement may be extended, at the Developer’s request and with City Council approval, for successive one-year periods.” 
 4.    Section 6.01 of the Original Agreement is
hereby amended by deleting the notice addresses set forth therein and replacing them for all purposes with the following addresses: 
  

			
	“City:	 	 City of Meadows Place, Texas
 One Troyan
Drive
 Meadows Place, Texas 77477
 Attn: City Secretary

Fax: (281) 983-2940

	
	With a copy to:
		
		 	 Grady Randle
 Randle Law Office

820 Gessner, Suite 1570
 Houston, Texas 77024

Fax: (832) 476-9554

	
	Developer:
		
		 	 Left Gate Property Holding, LLC d/b/a Texas Direct Auto and Vroom

1375 Broadway, 11th Floor

New York, NY 10018
 Attn: Deni Stott

	
	With a copy to:
		
		 	 Left Gate Property Holding, LLC d/b/a Texas Direct Auto and Vroom

2103 City West, Suite 1100
 Houston, Texas 77042

Attn: Scott Jacobson, Director, Real Estate & Facilities

		
		 	 Vroom, Inc.
 1375 Broadway, 11th Floor
 New York, NY 10018

Attn: Chief Legal Officer”

 5.    Ratification. The City and Developer hereby ratify and confirm their
respective obligations under the Original Agreement, and that, as of the Amendment Effective Date, the Original Agreement, as amended by this Agreement, and the Specific Use Permit are and remain in good standing and in full force and effect. 

6.    Miscellaneous. This Amendment shall become effective only upon full execution and delivery by the City and
Developer. This Amendment contains the parties’ entire agreement regarding the subject matter covered by this Amendment, and supersedes all prior correspondence, 

  
 32 

 
negotiations, and agreements, if any, whether oral or written, between the parties concerning such subject matter. There are no contemporaneous oral agreements, and there are no representations
or warranties between the parties not contained in this Amendment. All provisions of the Original Agreement not explicitly amended or modified in this Amendment shall remain in full force and effect, and the Original Agreement, as modified by this
Amendment, shall be binding upon and shall inure to the benefit of the parties hereto, their successors and permitted assigns. 

7.    Acknowledgement. The City and Developer acknowledge and agree that this Amendment complies with the
requirements set forth in Section 6.10 of the Original Agreement with respect to amendments to the Original Agreement. 

8.    Applicable Law and Venue. The construction and validity of this Amendment shall be governed by the laws of
the State of Texas without regard to conflicts of law principles. Venue shall be in Fort Bend County, Texas. 

9.    Counterparts. This Amendment may be executed in any number of counterparts. All counterparts together will be
taken to constitute one instrument. 
 10.    Authority for Execution. The City hereby certifies, represents, and
warrants that the execution of this Amendment is duly authorized and adopted in conformity with City ordinances. Developer hereby certifies, represents, and warrants that the execution of this Amendment is duly authorized and adopted in conformity
with the governing documents of such entity. 
 11.    Anti-Boycott Verification. As required by Chapter 2271,
Texas Government Code, the Developer hereby verifies that the Developer does not boycott Israel and will not boycott Israel through the term of this Agreement. For purposes of this verification, “boycott Israel” means refusing to deal
with, terminating business activities with, or otherwise taking any action that is intended to penalize, inflict economic harm on, or limit commercial relations specifically with Israel, or with a person or entity doing business in Israel or in an
Israeli-controlled territory, but does not include an action made for ordinary business purposes. 
 12.    Foreign
Terrorist Organizations. Pursuant to Chapter 2252, Texas Government Code, the Lessor represents and certifies that, at the time of execution of this Agreement neither the Developer, nor any wholly owned subsidiary, majority-owned subsidiary,
parent company or affiliate of the same, is a company listed by the Texas Comptroller of Public Accounts under Sections 2270.0201 or 2252.153 of the Texas Government Code. 

[Signature pages follow] 

  
 33 

 IN WITNESS WHEREOF, the undersigned parties have executed this First Amendment as of the 31 day
of December 2019 to be effective as of the Amendment Effective Date. 
  

							
		 		  	CITY OF MEADOWS PLACE, TEXAS
				
		 		  	By:	 	 /s/ Charles Jessup

		  		 	Charles Jessup, Mayor

							
			
	ATTEST:	  		 	
				
	By:	 	 /s/ Courtney Rutherford
	  		 	
		 	 Courtney Rutherford, City Secretary
	  		 	         [City Seal]

			
		 		  	 LEFT GATE PROPERTY HOLDING, LLC d/b/a

Texas Direct Auto and Vroom

				
		 		  	By:	 	 /s/ C. Denise Scott

		 		  	Name:	 	C. Denise Stott
		 		  	Title:	 	Chief People & Culture Officer

  
 34 

 SCHEDULE 1 

DEPICTION OF ALLEYWAY 
  

 

  
 35EX-10.11

 Exhibit 10.11 

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item (601)(b)(10). Such
excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 
 Customer
Experience Management Agreement 
 This Customer Experience Management Agreement (“Agreement”), is entered into this 17th
day of April, 2020 (the “Effective Date”), by and between Left Gate Property Holding LLC, a Texas limited liability company, d/b/a Texas Direct Auto or Vroom, with its principal place of business located at 1375 Broadway, 11th Floor, New
York, NY 10018 (“Vroom”), and Rock Connections LLC, a Michigan limited liability company with its principal place of business located at 660 Woodward Ave, 5th Floor, Detroit, MI 48226 (“Rock”). Vroom and Rock are each sometimes
referred to herein as a “Party” and, together, the “Parties”. 
 Recitals 

WHEREAS, Vroom is an e-commerce company that enables consumers to buy, sell, trade-in and finance used motor vehicles online, reconditions vehicles, and delivers and picks up vehicles to and from consumers’ homes (collectively, Vroom’s “Business”); 

WHEREAS, Vroom lists its motor vehicle inventory (“Vehicles”) for sale online via its websites, www.vroom.com and
www.texasdirectauto.com, and various third-party automotive marketplace websites (each, a “Site”), and maintains phone numbers that consumers can call to obtain support in buying or selling a vehicle from or to Vroom (each, a
“Transaction”); 
 WHEREAS, Rock operates a customer experience center and is in the business of providing customer sales and
support services; and 
 WHEREAS, Vroom desires to retain Rock to provide customer sales and support services in connection with
Vroom’s business, and Rock desires to provide such services, on the terms and conditions set forth in this Agreement. 
 NOW THEREFORE,
in consideration of the mutual covenants contained herein, and for good and valuable consideration, the receipt and sufficiency of which is acknowledged by the Parties, the Parties agree as follows: 

1. Engagement of Rock; Scope of Services. 

a. Subject to the terms and conditions of this Agreement, Vroom hereby retains Rock to provide the customer sales and support services set
forth herein (“Services”) and Rock hereby undertakes and agrees to provide such Services. 
 b. The Services provided by Rock
hereunder shall include the following: 
 (i) Answer and respond to inbound calls from customers and potential customers
(each, a “Customer”) who may be interested in completing a Transaction with Vroom; 

 (ii) Place outbound telephone calls to Customers who have submitted their
contact information to Vroom through a Site or otherwise indicating interest in a Vehicle or potential Transaction (“Leads”); 

(iii) Make follow-up outbound calls to Customers who could not be reached or who
request a return call; 
 (iv) Transfer calls to other operational teams at Vroom in accordance with Vroom’s policies
and procedures, such policies and procedures to be in all cases reasonable and provided in advance, and when updated or modified to require material business adjustments on the part of Rock, provided no less than ten (10) business days in
advance (“Policies and Procedures”); 
 (v) Send emails to Customers who have consented to receiving email
communications from Vroom or in response to Leads in accordance with Vroom’s Policies and Procedures; 
 (vi) When and
if implemented by Vroom pursuant to written instruction, send text messages to Customers to facilitate completion of a Transaction or in response to Leads, provided that the Customer has consented to receiving text messages from Vroom and Rock sends
such texts only in accordance with Vroom’s Policies and Procedures; 
 (vii) When and if implemented by Vroom pursuant
to written instruction, provide support via online chat messages to Customers to facilitate completion of a Transaction or in response to Leads in accordance with Vroom’s Policies and Procedures; 

(viii) Assist Customers in selecting a Vehicle, understanding Vehicle features, obtaining credit
pre-approval, completing a credit application, obtaining trade-in appraisals, understanding Vroom’s limited warranty, understanding Value-Added Products (as defined
below) and understanding Vroom’s transaction terms, in each case, as may be requested by the Customer; 
 (ix) Assist
Customers who wish to sell their Vehicle to Vroom and are not trading in such Vehicle in connection with a Vehicle purchase (“Direct Buy”) in obtaining an appraisal from Vroom. Any such Direct Buy Services shall be conducted by the Client
Communication Specialist (“CCS”) team at Rock in accordance with Vroom Policies and Procedures; 
 (x) For each
Customer who chooses to purchase a Vehicle and has or obtains the requisite financing to do so, complete and email to such Customer a summary of the terms of the proposed transaction, including Vehicle price, financing terms, fees and taxes,
Value-Added Products and trade-in value, in each case, as applicable (“Deal Summary”) in a form mutually agreed by Vroom and Rock; 

(xi) Enter and save all required information in Vroom’s customer relationship management (“CRM”) system in
accordance with Vroom’s Policies and Procedures; 

  
 2 

 (xii) Collect documentation from Customers that is needed to complete a
Transaction, such as a driver’s license, proof of insurance, and any requested loan stipulations; 
 (xiii) Ensure that
the Deal Summary and documents collected from each Customer are saved appropriately in Vroom’s CRM, change the stage of the Transaction in the CRM to “finalizing deal” for Quality Assurance Team review and, following such review,
change the status of the Transaction in the CRM to “Contracting” so it can be picked up by the Vroom documentation team (or such other designations as Vroom may determine and communicate to Rock pursuant to written instruction); and 

(xiv) Provide such other assistance and guidance to Customers as may be reasonably necessary to assist them in a Transaction.

 c. The Parties acknowledge and agree that the purpose of the Services is to maximize sales by Vroom of Vehicles, trade-ins of Vehicles by Customers, sales by Vroom of Value-Added Products, and Direct Buys of vehicles from Customers, while providing to Customers the highest quality customer service and support. 

d. Rock shall provide the Services for all Vehicles and all vehicle-related goods and services offered by Vroom, including financing, GAP
coverage, service contracts, extended warranties, and wheel and tire coverage (collectively, the “Value-Added Products”). The Parties acknowledge and agree that Vroom may introduce additional products during the Term (such additional
products, other than any usual and customary updates, upgrades, or evolutionary developments to the Value-Added Products as would typically be expected to occur in products and services of that nature, the “Related Products”) and, in such
event, Vroom and Rock shall negotiate in good faith and agree to a per-Related Product fee to be payable by Vroom hereunder and shall amend Appendix A accordingly. The Services, and all terms and
conditions herein, apply to the Vehicles, the Value-Added Products and the Related Products. If Related Products are introduced during the Term, Vroom shall provide reasonable advance notice of and information about such additional Related Products
to Rock to enable Rock to inform and train its telephone service agents (“Agents”) as necessary and appropriate to provide quality Services with respect to such Related Products. 

e. Except as set forth above with regard to Related Products and Direct Buys, should Vroom require Rock to provide any services other than
those described herein, such services may be provided by Rock in its sole discretion, upon negotiation and execution of an amendment hereto. 

f. In providing the Services hereunder, Rock shall adhere to any limitations on Vroom’s business activities, as set forth in Policies and
Procedures duly provided to Rock. 
 2. Term; Termination. 

a. The initial term of this Agreement shall commence on the Effective Date and continue until December 31, 2021 (the “Initial
Term”). This Agreement shall automatically renew for successive one (1) year terms (each, a “Renewal Term”) unless either Party gives the other written notice of its intention not to renew this Agreement at least one hundred and
twenty (120) 

  
 3 

 
days prior to the end of the then current term, or unless terminated as provided elsewhere herein (the Initial Term, together with each Renewal Term, if any, being collectively referred to herein
as the “Term”). In the event either Party gives notice of its intention not to renew this Agreement, if requested by Vroom in writing prior to the termination date, Rock will continue to provide the Services for a period of up to thirty
(30) days after the termination date (the “Transition Period”), and Rock further will provide any assistance reasonably requested by Vroom during the Transition Period to facilitate the transfer of the performance of the Services to
any successor designated by Vroom; provided, however, that Vroom will reimburse Rock for all reasonable costs and expenses incurred by Rock during the Transition Period. 

b. Either Party (the “Terminating Party”) may terminate this Agreement upon forty-five (45) days’ prior written notice to
the other Party as specified below if the other Party (the “Defaulting Party”) materially defaults in the performance of its obligations under this Agreement or otherwise materially breaches this Agreement. Upon the occurrence of such a
default, the Terminating Party shall give the Defaulting Party written notice of such default, specifying in reasonable detail the nature and extent of such default. Except as otherwise set forth herein, the Defaulting Party shall have forty-five
(45) days to cure the default specified in such written notice, and failing such cure, the Terminating Party may terminate the Agreement immediately upon sending further written notice. 

c. In addition to the foregoing, either Party shall have the right to terminate this Agreement immediately upon the occurrence of any of the
following events with respect to the other Party: (a) the institution of proceedings for relief under any current or future bankruptcy or insolvency law; (b) the execution by such Party of an assignment for the benefit of its creditors;
(c) the admission by such Party in writing of its inability to pay its debts as the same become due; and/or (d) the institution of involuntary bankruptcy proceedings against such Party, which involuntary proceedings are not dismissed
within sixty (60) days from the date that the same were instituted. 
 d. Any termination of this Agreement shall be effective on the
date set forth in the applicable notice, unless otherwise specified in this Agreement. Termination shall not relieve either Party of liability for any default under or breach of this Agreement, or any obligations incurred prior to such termination.

 3. Fees; Payments; Costs and Expenses. 

a. Vroom shall pay Rock the fees and other compensation for the Services as set forth in Appendix A hereto (collectively, “Service
Fees”). 
 b. Rock shall invoice Vroom at the end of each month for the Service Fees. Vroom shall pay all undisputed amounts of the
invoice no later than thirty (30) days of its receipt of such invoice. 
 c. Each Party shall bear its own costs and expenses incurred
in connection with this Agreement or the Services, unless otherwise specified in this Agreement. 

  
 4 

 d. If Vroom reasonably disputes any portion of an invoice received from Rock, Vroom must pay
the undisputed amount of the invoice in accordance with the terms of this Agreement and submit written notice to Rock concerning the disputed amount within thirty (30) days of receiving the invoice. The Parties shall meet and attempt in good
faith to resolve the dispute. If the Parties agree that a balance is due different than that initially invoiced, Rock shall issue an invoice for such balance and Vroom shall issue payment within thirty (30) days of receiving said
invoice.     
 4. [***]. 
 5.
Responsibility for Agents; Staffing; Training; Scripts. 
 a. Rock shall hire, manage and direct all Agents assigned to perform the
Services. Rock is solely responsible for all salaries, wages and benefits of its Agents. 
 b.    Rock shall designate an
account representative who shall be responsible for interacting with the designated Vroom representative(s) and supervising compliance by the Agents with Vroom’s Policies and Procedures applicable to the Services. 

c. Rock and Vroom shall create, mutually agree upon and maintain a staffing plan (“Staffing Plan”) to adjust staffing levels for
Agents from time to time as needed [***]. 
 d. Pursuant to the Staffing Plan, the Parties shall review hiring levels and needs on a rolling
three-month basis [***] and otherwise ensure adequate staffing of Agents to provide the Services throughout the Term. Rock undertakes and agrees to hire Agents on a monthly basis as needed to meet the agreed-upon staffing levels (such Agents hired
each month being referred to collectively herein as a “Cohort”). Without Vroom’s prior written consent, Rock shall not reduce the total number of Agents providing the Services below the level required [***] (excluding natural
attrition).    In the event that either Party wants to make a material change (i.e., ten (10) or more) in the total number of Agents (including, without limitation Cohorts and Active Agents) providing Services, such
Party must provide the other Party at least two (2) weeks prior written notice. 
 e. Rock shall provide an on-boarding program for training and development of all Cohorts (“On-Boarding Program”). The Parties shall work together to develop proper training for Rock’s
Agents during such On-Boarding Program, which shall include creating training materials and protocols (together, “Training Materials”) and frequently asked questions (“FAQs”) tailored to
Vroom. For each Cohort, the On-Boarding Program shall run for a period of time to be agreed upon by the Parties and consist of both classroom training and work as an Agent. Rock shall at all times be
responsible for the training and performance of its Agents and shall ensure that Agents in all Cohorts are given the proper level of training during the On-Boarding Period and thereafter throughout the Term.
Vroom has the right to monitor any training program conducted by Rock relating to the Services. 

  
 5 

 f. Vroom and Rock shall mutually develop and agree to one or more scripts tailored to Vroom
to be used by the Agents in providing the Services (“Scripts”). The Scripts shall include appropriate material for various scenarios that may arise with Customers, and cover marketing and sales of Vehicles, Value-Added Products and, if
applicable, Related Products. 
 g. Vroom shall be responsible for the compliance of all Scripts with applicable law and regulation. Rock
shall instruct its Agents to read the Scripts without deviation or change, except for non-material transitions. If Vroom desires to make a non-material change in the
Scripts, Rock shall promptly make or cause to be made such changes at the request of Vroom. Rock undertakes and agrees that all activities undertaken by its Agents while providing the Services shall strictly adhere to the Scripts that have been
reviewed and approved in accordance with this section. Notwithstanding the foregoing, the Parties acknowledge that the nature of Rock’s interactions with Customers is such that the Scripts cannot cover every potential feature of such
interactions, and as such, the Scripts must be strictly adhered to only to the extent Script elements are required to be included in every interaction or are applicable to specifically enumerated situations. Rock agrees and represents that any off-Script Customer interactions will be free of misconduct and misrepresentation, will follow any applicable Policies and Procedures, and will be in compliance with applicable laws and regulations. 

h. Rock shall notify Vroom promptly in writing upon its receipt or knowledge of any complaint from any person, including a Customer, or entity
regarding any Services provided hereunder, and shall provide reasonable assistance in researching, investigating and responding to such complaints. 

i.    Notwithstanding anything to the contrary set forth herein, Rock agrees to use the Training Materials, FAQs and
Scripts solely in connection with providing the Services to or on behalf of Vroom and shall not share the Training Materials, FAQs or Scripts with any third parties during or after the Term without the express prior written consent of Vroom,
provided that the foregoing shall not apply to Rock Information (defined herein). In providing the Services and developing the Training Materials, Scripts and FAQs, Rock may utilize certain materials, programs, processes, know-how, techniques, methodologies, tools, scripts, models and information, which have been developed by Rock and/or used by Rock in the general course of its business and without the use of Confidential
Information provided by Vroom, or that have not been mutually developed by the parties pursuant to Section 5(e) or 5(f) (“Rock Information”). Rock shall retain all rights in and to the Rock Information. 

j. Rock shall record 100% of the audio calls made in connection with the Services and ensure that all email and other written communications
between Rock and a Customer are tracked and saved in Vroom’s CRM database. Such call recordings shall be paused during the time of the call that the customer is sharing any personally identifiable information. Recordings shall be retained for
ninety (90) days or until the expiration or any termination of this Agreement (the “Retention Period”). During the Term, Rock shall provide Vroom with the ability to access the recording system remotely vis Secure Internet access
(https), as well as search for, listen to, and download contacts. For a period of thirty (30) days following the Retention Period, Rock shall make the call recordings available to Vroom for downloading and transfer. Thereafter, Rock shall have
no obligation to retain such recordings or make them available to Vroom for access or transfer. 

  
 6 

 6. Facility; Tools; Telecommunications. 

a. Rock shall utilize its facility located at 660 Woodward Ave, 5th Floor, Detroit, MI 48226, other commercially reasonable locations owned by
Rock or its affiliates in Detroit, MI, or such other location as the parties may mutually agree in writing (the “Facility”) for delivery of the Services. The Facility shall be equipped with telephone systems, computer systems and various
Rock support and call monitoring tools, such as documentation and knowledge bases, and otherwise be properly equipped for the Agents to perform the Services. 

b. Vroom agrees to provide Rock with sufficient copies of software, documentation, licenses and product information as reasonably necessary to
provide the Services. Rock acknowledges that its use of such tools may be subject to the terms of license agreements required by Vroom or its third-Party suppliers, and Rock agrees to abide by all the terms and conditions of such licenses in
connection with its use of such tools. Vroom shall be obligated to supply only one copy of any documentation or other such written materials relating to any such tools, and Rock shall make such number of copies as are necessary for it to provide the
Services. 
 c. Rock shall bear all expenses of operating the Facility, including all expenses for equipment and systems necessary to connect
to any telecommunications circuits or facilities utilized by Vroom to bring calls to the Facility, and all expenses related to the sending of inbound calls to Rock, and sending outbound calls from Rock, including provision of telecommunication lines
and the bearing of network costs associated with routing calls to the Facility. Rock agrees to implement any technology changes or upgrades to its equipment or systems in a manner designed to minimize interruption to its performance of the Services.

 7. Monitoring. Rock shall provide Vroom with monitoring capabilities for both voice and data concerning Calls. Vroom shall have the right, as
often as it desires, to monitor, without Rock’s knowledge, the calls being performed by Rock on behalf of Vroom. Without limiting the generality of the foregoing, Vroom shall have the ability to log into Rock’s Five9 system (or any
replacement system) to view the current status of the team working on Vroom’s account, run reports specific to the Services, or listen to recorded or real-time calls. Rock shall further provide access to Vroom representatives to be on site at
the Facility from time to time. 
 8. Representations and Warranties. 

a. Each Party represents and warrants to the other that: 

(i) it is duly organized and in good standing under the laws of the state in which it is organized and that it has adequate
power to enter into and perform this Agreement; 
 (ii) it has obtained all necessary licenses and permits needed to perform
under this Agreement; 
 (iii) this Agreement has been duly authorized, executed and delivered on behalf of such Party and
constitutes the valid, legal and binding agreement of such Party, enforceable in accordance with its terms; 

  
 7 

 (iv) neither the execution nor performance of this Agreement does, or shall,
violate or conflict with, or constitute a breach or default under, the articles of incorporation or certificate of formation, as the case may be, of such Party, or any statute, rule, regulation, order, ordinance, judgment, decree or award applicable
to such Party or any material agreement or other instrument to which such Party or any material asset or property of such Party is or may be bound; and 

(v) it shall perform its obligations in compliance with the terms of this Agreement and all applicable federal, state, and
local laws, rules and regulations, including, without limitation, the Telephone Consumer Protection Act of 1991, 47 U.S.C. §227 (“TCPA”), and the Federal Communications Commission (“FCC”)’s related implementing
regulations as set forth in 47 C.F.R. §64.1200. 
 b. Rock represents and warrants that it shall use automatic telephone dialing systems
(as defined in the TCPA) only for Leads that Vroom has marked as authorized for autodialing outbound phone calls and, when and if implemented by Vroom pursuant to written instruction, outbound texts (together, “Autodial Leads”). Vroom
represents and warrants that all Autodial Leads have provided prior express written consent (as that term is defined in the TCPA) to be contacted by Vroom and shall indemnify, defend and hold harmless Rock, its officers, employees, agents,
representatives, consultants, and contractors (together, the “Rock Indemnitees”) from and against any and all liabilities, losses, damages, judgments, costs and expenses (including reasonable attorneys’ fees) (collectively,
“Damages”) incurred by, or imposed on or asserted against the Rock Indemnitees as a result of any claim, action, suit or proceeding by a third party (collectively, “Claims” and individually, “Claim”), that are caused by
or arise from Vroom’s failure to obtain sufficient consent for the Autodial Leads; provided that, in the event Rock captures prior express written consent (as that term is defined in the TCPA) from Vroom Customers to be contacted by call and/or
text using automatic telephone dialing systems while on the telephone with such Customer, Rock will be solely responsible for the sufficiency of such consent, and shall indemnify, defend, and hold harmless Vroom, its officers, employees, agents,
representatives, consultants, and contractors (together, “Vroom Indemnitees”) from and against any and all Damages incurred by, or imposed on or asserted against the Vroom Indemnitees as a result of any Claim that is caused by or arises
from Rock’s failure to obtain sufficient consent for such Leads. Rock agrees to comply with Vroom’s “Do Not Call” Policy and Procedure concerning Customers who opt out of receiving autodialed calls or texts from Vroom and, in any
event, will not call or text any Leads, including Autodial Leads, past sixty (60) days of receiving the Leads from Vroom, unless such Leads have been successfully contacted in the past sixty (60) days. Rock shall indemnify, defend, and
hold harmless the Vroom Indemnitees from and against any and all Damages incurred by, or imposed on or asserted against the Vroom Indemnitees as a result of any Claim that is caused by or arises from Rock’s failure to comply with the foregoing
provisions. 
 9. Intellectual Property. Except as provided below in this Section 9, neither Party shall acquire any right to any trade name,
trademark, service mark, copyright, patent or other form of intellectual property of the other Party. Each Party grants to the other Party a non-exclusive, royalty-free, non-sub-licensable right and license to use the grantor Party’s tradenames, trademarks, service marks, and copyrights solely for the purpose of performing the grantee Party’s obligations under this
Agreement. Neither Party shall use intellectual property of the other Party in any manner except as expressly permitted by, or contemplated in, this Agreement. 

  
 8 

 10. Indemnification. Without limiting the provisions of Sections 8(b) and 15(g) hereof, each Party
(in such capacity, an “Indemnifying Party”) agrees to indemnify, defend and hold harmless the other Party and such other Party’s officers, directors, shareholders, members, employees or agents (each of the foregoing, “Indemnified
Party”) from any and all Damages incurred by, or imposed on or asserted against the Indemnified Party as a result of any Claim that is caused by or arises from: (a) any breach of this Agreement by the Indemnifying Party; and/or
(b) fraud, gross negligence or willful misconduct on the part of the Indemnifying Party; and/or (c) any violation by the Indemnifying Party of applicable law (excluding violations of the TCPA and related regulations, which is governed by
Section 8(b), above). The Indemnified Party shall promptly provide the Indemnifying Party with written notice upon learning of any Claims that may reasonably result in the indemnification of the Indemnified Party; provided, however, that
failure by the Indemnified Party to provide prompt notice to the Indemnifying Party shall not relieve the Indemnifying Party of its obligations under this Section 10, unless the Indemnifying Party’s ability to defend the Claim has been
materially disadvantaged or compromised as a result of such failure. 
 11. Warranty. Rock warrants to Vroom that the Services furnished under this
Agreement shall be furnished in a professional and workmanlike manner in accordance with industry best practices, and in conformance with the terms of this Agreement. 

12. Limitation of Liability. Except for a breach of Sections 14 or 15 hereof, and a Party’s indemnification obligations under Section 10
hereof, neither Party shall be liable to the other for consequential, special, punitive, incidental or indirect damages of any nature arising at any time and from any cause whatsoever, whether arising in contract, in tort (including negligence or
strict liability), under warranty or otherwise in connection with performance or failure to perform the Agreement. WITHOUT LIMITING THE WARRANTIES IN SECTIONS 8, 11 AND 15 HEREOF, IN CONNECTION WITH THE TRANSACTIONS CONTEMPLATED HEREUNDER, ALL
IMPLIED WARRANTIES OF ANY TYPE AND NATURE, INCLUDING ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR PARTICULAR PURPOSE ARE HEREBY EXCLUDED. 
 13.
Insurance. Each Party, at its own expense, shall maintain the following insurance coverage during the Term: (i) comprehensive general liability insurance in the minimum amount of $1,000,000 per occurrence and $2,000,000 in the aggregate,
including broad form contractual liability, broad form vendor’s coverage and advertiser’s liability coverage; (ii) errors & omissions liability insurance of at least $25,000 per occurrence and a deductible of no more than
$2,500; (iii) worker’s compensation in statutory limits required for each state in which the Party maintaining such insurance shall operate; and (iv) cybersecurity insurance coverage of at least $10 million. Upon request, each Party
shall furnish to the other Party certificates of insurance evidencing the coverage required hereunder. 

  
 9 

 14. Confidentiality.

a. For purposes of this Agreement, the term “Personal Information” is as defined under applicable data protection laws, including
Section 1798.140 of the California Consumer Privacy Act (“CCPA”), and refers to any and all Personal Information, in any form (e.g., written, verbal, electronic), provided to, or collected or generated by, Rock or to which Rock or
Rock personnel have been given access by or on behalf of Vroom, that uniquely identifies a current, former or prospective Vroom customer or consumer. This includes, but is not limited to, financial information, including credit history, income,
financial benefits, application, policy or claim information, names or lists of individuals derived from nonpublic personally identifiable information or otherwise derived in connection with the performance of the Services or this Agreement, the
identification of an individual as a customer, and information about a person’s sex, date of birth, age, address, telephone number, Social Security number and any financial account information. Only Rock personnel who need to know Personal
Information to perform their duties in furtherance of this Agreement and who agree to be bound by the terms hereof will be given access to Personal Information. Rock will maintain the security and confidentiality of Personal Information and will use
it only for the purposes specified in this Agreement. If the Gramm-Leach-Bliley Act or any other applicable state or federal law or regulation, now or hereafter in effect, imposes a higher standard of confidentiality or security with respect to such
Personal Information, such standard will prevail over the provisions of this Agreement. 
 b. Except as set forth herein, “Confidential
Information” means all non-public, confidential or proprietary information disclosed before, on or after the Effective Date, by a Party (the “Disclosing Party”) or its affiliates to the other
Party (the “Recipient”) or its affiliates, or to any of the Recipient’s or its affiliates’ employees, officers, directors, partners, shareholders, agents, attorneys, accountants or advisors (collectively,
“Representatives”), whether disclosed orally or disclosed or accessed in written, electronic or other media, and whether or not marked, designated or otherwise identified as “confidential”, including, without limitation:
(i) all information concerning the Disclosing Party’s and its affiliates’ and their customers’, suppliers’, and other third parties’ past, present and future business affairs, methods and operations, including, without
limitation, finances, supplier information, products, services, organizational structure and internal practices, forecasts, sales and other financial results, records and budgets, and business, marketing, development, sales and other commercial
strategies; (ii) the Disclosing Party’s unpatented inventions, ideas, methods and discoveries, trade secrets, know-how, unpublished patent applications, and other confidential intellectual property;
(iii) all designs, specifications, documentation, components, source code, object code, images, icons, audiovisual components and objects, schematics, drawings, protocols, processes, and other visual depictions, in whole or in part, of any of
the foregoing; (iv) any third-party confidential information included with, or incorporated in, any information provided by the Disclosing Party to the Recipient or its Representatives; and (v) all notes, analyses, compilations, reports,
forecasts, studies, samples, data, statistics, summaries, and other materials prepared by or for the Recipient or its Representatives that contain, in whole or in part, any of the Disclosing Party’s Confidential Information. For the avoidance
of doubt, each of (i) any Personal Information hereunder, (ii) all Training Materials, (iii) all FAQs, and (iv) all Scripts shall be deemed to be Vroom’s Confidential Information hereunder, except for any Rock Information
contained in the Training Materials, FAQs and/or Scripts, which shall be deemed to be Rock’s Confidential Information.

  
 10 

 c. The Parties agree to treat any such Confidential Information provided as confidential,
using the same degree of care and discretion that the Parties use with respect to their own confidential information (at all times exercising at least a commercially reasonable degree of care in the protection of such Confidential Information),
except to the extent that a higher standard is specified herein or is required by applicable federal or state law, rule or regulation. Each Party agrees to not use, share or disclose the other Party’s Confidential Information except
(1) to the extent necessary to perform its obligations or exercise rights under this Agreement, or (2) as authorized by the Disclosing Party in writing. Either Party may disclose Confidential Information on a need-to-know basis to its associates, contractors, and service providers who have executed binding written agreements requiring confidentiality and non-use obligations at least as restrictive as those in this Section 14. Except as provided in this Section 14, the Recipient shall not disclose or otherwise make available the Disclosing Party’s
Confidential Information on an individual or aggregated basis to any third Party without the Disclosing Party’s prior written consent. Confidential Information may be disclosed if required by law or order of a court or other governmental
authority or regulation, provided that the Recipient provides prior written notice to the Disclosing Party when legally permissible and the disclosure does not exceed that which is required. Upon termination of this Agreement, at Vroom’s
request, Rock shall destroy or return all of Vroom’s Confidential Information to Vroom. The confidentiality obligations set forth in this Section 14 do not apply to Confidential Information that: (i) was already known by the
Recipient prior to first receiving it from the Disclosing Party, as supported by documentary evidence; (ii) is legally obtained from other sources not in violation of an agreement of confidentiality; (iii) is or becomes part of the public
domain through no fault of the Recipient; or (iv) is independently developed by the Recipient without reference to or use of any of the Disclosing Party’s Confidential Information, as supported by documentary evidence. Notwithstanding
the foregoing, the exceptions set forth in subsections (i) through (iv) shall not apply to Personal Information. Each Party acknowledges that compliance with this Section is necessary to protect the business, goodwill, and Confidential
Information of the other, and that a breach of the same shall cause irreparable and continual damage for which money damages may not be adequate. If the Recipient breaches, or threatens to breach this Section 14, the Disclosing Party shall
be entitled to, in addition to all other remedies available under applicable law: (a) temporary, preliminary, or permanent injunctive relief, or other equitable relief, in order to prevent such damage, without the requirement of posting any
bond or surety; and (b) money damages insofar as they can be determined. 
 15. Security and Privacy Obligations. 

a. Rock represents, warrants and covenants that it has, and agrees to maintain, an information security program containing appropriate measures
to protect all the data that it receives and/or stores in connection with this Agreement and performing the Services, including, without limitation, Customer information, Personal Information and any data provided by Vroom hereunder, against
accidental or unlawful destruction, alteration, unauthorized disclosure or access consistent with applicable laws and in conformity with data processing industry standards and all applicable laws, rules and regulations. In addition, Rock shall
implement and maintain physical, logical, administrative, managerial and technical safeguards, controls and measures in accordance with industry standards, relative to the sensitivity of the data involved. 

  
 11 

 b. Without limiting the foregoing, the Parties acknowledge and agree that Rock is a service
provider for the purposes of the CCPA. Rock certifies that it understands the rules, restrictions, requirements and definitions of the CCPA and agrees to refrain from taking any action that would cause any transfers of Personal Information to or
from Rock to qualify as a sale of Personal Information under the CCPA. Rock acknowledges and confirms that it does not receive any Personal Information from Vroom as consideration for any services or other items provided to Vroom. Rock shall not
sell any such Personal Information. Rock shall not retain, use or disclose any Personal Information provided by Vroom or otherwise received by Rock pursuant to the Services, except as necessary for the specific purpose of performing the Services for
Vroom pursuant to this Agreement or otherwise as set forth in this Agreement or as permitted by the CCPA. Rock shall assist Vroom with any requests received from individuals under the CCPA or other similar data protection laws and shall, pursuant to
Section 10 hereof, defend, indemnify and hold Vroom harmless from any claims relating to Rock’s breach of the foregoing or applicable data protection laws. The terms “sale,” and “sell” are as defined in
Section 1798.140 of the CCPA. 
 c. Rock represents, warrants and covenants that it has implemented a mature information security
management program that incorporates the key elements and protections of a mature industry IS framework such as ISO 27000, COBIT, BITS, NIST, etc. Without limiting the foregoing, Rock represents, warrants and covenants that it is responsible for
meeting and maintaining compliance with the current levels of requirements for PCI Data Security Standards. Rock shall be responsible for its PCI compliance and shall use reasonable efforts to maintain levels of security standards in accordance
with PCI Data Security Standards for the data that it manages, transmits, processes, and/or stores for Vroom. Rock hereby assumes all responsibility, risk and liability and shall defend, indemnify and hold Vroom harmless for any fines or
penalties of any kind charged to Vroom by American Express, Discovery, MasterCard, Visa, or any other payment organization that is directly caused by any noncompliance on the part of Rock with such PCI Data Security Standards. Notwithstanding
the foregoing, Rock shall not be responsible or liable for any failure to comply with PCI Data Security Standards that occurs on account of Vroom’s processes or technology. All non-public data
(including Credit Card Information) of Vroom’s customers that is transmitted to Rock shall be treated with the highest appropriate levels of security. 

d. Rock shall ensure that it does not retain Personal Information for longer than it needs such information to perform its obligations
hereunder. Rock’s disposal policy shall require that such Personal Information is reviewed and destroyed on a routine basis, which shall be no less than weekly. As part of its information security program, Rock shall take appropriate measures
to properly dispose of Vroom’s Personal Information, whether such information is in paper, electronic or other form and to prevent identity theft. These measures shall, at a minimum, include, but are not limited to ensuring the destruction or
erasure of electronic media containing Personal Information so that the information cannot practicably be read or reconstructed. 
 e. Rock
shall promptly log, research and resolve all Security Breaches (as defined herein) of which Rock becomes aware and which are attributable to Rock. In the event of any Security Breach that potentially impacts Vroom’s information and of
which Rock becomes aware, regardless of whether it is attributable to Rock, Rock shall contact Vroom within two (2) hours of discovering the Security Breach, and, if ongoing, shall update Vroom every hour thereafter, until the Security Breach
is resolved. Rock shall commit resources as reasonably necessary without regard to normal business hours to research and resolve the Security Breach. “Security Breach” means activity that either compromises or may compromise, and
any attempt to obtain unauthorized access to, disclosure of or use of the confidentiality or integrity of Personal Information that resides upon or is transmitted by means of a system operated by Rock or Rock’s vendors or agents.

  
 12 

 f. At its sole cost and expense, Rock shall periodically (at least annually) have a
reputable third party recognized by the information security industry conduct penetration testing (also known as vulnerability threat assessments) on all aspects of the Services and Rock’s information technology infrastructure in order to
identify potential areas where security could be breached. Upon request, Rock shall make the results of any such testing available to Vroom, provided that the results of such testing shall be deemed to be Rock’s Confidential Information. 

g. Rock shall defend and indemnify Vroom for any and all damages, losses, fees or costs incurred as a result of any Security Breach to the
extent attributable to Rock. To the extent that a Security Breach gives rise to a need, in Vroom’s reasonable discretion, to provide (i) notification to public authorities, individuals, or other persons, or (ii) undertake other
remedial measures (including, without limitation, notice, credit monitoring services and the establishment of a call center to respond to inquiries (each of the foregoing a “Remedial Action”)), Rock shall, at Rock’s cost, undertake
commercially reasonable Remedial Actions to address and remedy any Security Breach and fully cooperate with Vroom and follow Vroom’s instructions regarding actions to be undertaken to address such Security Breach. The timing, content and
manner of effectuating any notices on behalf of Vroom or relating specifically to Vroom data shall be determined by Vroom in its sole discretion. 

h. Upon request, annually during the Term, Rock shall provide to Vroom written validation that its and its permitted subcontractors’
information and physical security policies and procedures comply with this Agreement and that they are each operating effectively. Vroom shall have the right, upon five (5) days’ prior written notice, to audit Rock’s operations to
verify compliance with its data security obligations and this Section. Vroom shall conduct the audit within Rock’s regular business hours and Rock agrees to provide reasonable cooperation to Vroom during such audit. If an audit
reveals any non-compliance or a gap in the data security protections as compared to Rock’s security policies (which shall be consistent with the requirements of this Agreement), then Rock shall take such
steps to bring itself into compliance with such data security obligations.
 16. Trouble Reporting, Escalation and Resolution Procedures. 

a. For problems affecting access to one or more Vroom systems or technology (experienced by Rock or reported by a Customer), Rock shall use
reasonable efforts to ascertain whether the problem is internal or external to Rock’s environment, as well as the approximate number of Agents or Vroom Calls or e-mails affected by the problem. Rock
shall document the details of the problem in a standard manner agreed upon by Vroom, forward via e-mail to Vroom’s Helpdesk, and follow up with a telephone call to Vroom’s Helpdesk and/or Operations
team. Vroom shall provide all contact information for Vroom’s Helpdesk. Vroom shall take commercially reasonable steps to resolve such access issues being experienced by Rock (whether such issues result from Vroom systems directly or from
third-party systems employed by Vroom) and shall provide Rock with hourly status updates as Vroom endeavors to resolve such access issues. To the extent required, Rock shall promptly implement any technical updates, fixes, work-arounds or other
resolution required or recommended by Vroom. 

  
 13 

 b. For any situation where it is unclear whether a given problem resides within Rock’s
infrastructure or Vroom’s, Rock shall provide a technical single point of contact to work with Vroom’s technical support staff to troubleshoot, isolate and resolve the issue. 

c. Rock and Vroom shall each provide a list of individuals for desktop, network, and telephone-related technical issues, problem status updates
and escalations during any 24-hour period of time. 
 d. Rock and Vroom shall provide one
(1) full-time NOC manager during all hours of operation. IT support shall be available at each Party’s respective site during all hours of operation. 

17. Data and Reports; Weekly Meetings. During the Term, representatives of Rock and Vroom shall meet on a weekly basis, at times and locations to be
agreed upon, to review reports and matters relevant to the transactions contemplated by this Agreement, including, without limitation, Rock’s performance of the Services, sales by Vroom of Vehicles,
trade-ins of Vehicles by Customers, sales by Vroom of Value-Added Products, the Staffing Plan, Cohort training and scripts. Rock shall transmit to Vroom weekly data and reports relating to the provision of the
Services, in a form to be mutually agreed by the Parties, on the following: 
 [***] 

[***]. 
 18. SLA. Rock undertakes and agrees that all
Services shall be performed in accordance with the performance standards set forth in the Service Level Agreement attached hereto as 
 Appendix B.

 19. Independent Contractor. With respect to performance of either Party of its obligations under this Agreement, each Party acknowledges that it is
and shall be an independent contractor. Neither Party shall make any representations tending to create an agency, employment, partnership, or franchise relationship between the Parties. 

20. Authorized Representatives. Rock shall designate and maintain at all times hereunder a project manager to serve as a single point of contact for
Vroom to assist in the resolution of all technical, operational and implementation-related matters. Rock shall endeavor not to change such project manager without Vroom’s approval and, in any event, shall notify Vroom of any such changes. In
addition, each Party shall, at all times, designate one representative who shall be authorized to take any and all action and/or grant any approvals required in the course of performing this Agreement. Such representatives shall be fully authorized
to act for and bind each Party including the approval of amendments to this Agreement. Until written notice to the contrary, the authorized representatives of the Parties are as follows: 

  
 14 

 
			
	 For Vroom:
  

Peter Scherr
 Vroom, Inc.

1375 Broadway, 11th Floor
 New York, NY 10018
	  	 For Rock:
  

Jeff Raab
 Rock Connections, LLC

1900 St. Antoine St.
 Detroit, MI 48226

 21. Notices. All notices required hereunder shall be in writing and delivered in person, by email, by overnight
delivery service or, by registered or certified mail, with postage prepaid and return receipt requested, to the addresses set forth below (or to such other addresses as either Party may subsequently designate in writing). All notices required under
this Agreement shall be deemed received on the date of delivery (if in person), the date sent (if by email), or the date received (if sent by overnight delivery or mail). 

 

			
	 If to Vroom:
  

1375 Broadway
 11th Floor

New York, NY 10018
 Attn: Chief Marketing Officer

 
 With a Copy to:

 
 1375 Broadway

11th Floor
 New York, NY 10018

Attn: Chief Legal Officer
 Email: legal@vroom.com
	  	 If to Rock:
  

660 Woodward Ave
 5th Floor

Detroit, MI 48226
 Attn: Chief Executive Officer

 
 With a Copy to:

 
 660 Woodward Ave

5th Floor
 Detroit, MI 48226

Attn: General Counsel

 22. Assignment. Neither Party may assign its rights or delegate its duties under this Agreement without the prior
written consent of the other Party, except Vroom may assign or delegate its rights or duties in the event of a merger or sale or transfer of substantially all of Vroom’s assets, and in the event Rock forms an alternate business entity sharing
common ownership to perform the Services, Rock may assign or delegate its rights or duties to such entity. This Agreement is and shall be binding upon and enforceable against each Party’s respective successors and permitted assigns. 

23. Force Majeure. Neither Party shall be liable for any failure to comply with the terms of this Agreement to the extent such failure is caused by
events or circumstances which are beyond a Party’s reasonable control, which could not have been anticipated or avoided by such Party, which are not caused by the fault or negligence of such Party, and which have an adverse effect on such
Party’s ability to perform its obligations hereunder; such events or circumstances to include, but not be limited to acts of God, strikes, epidemic, pandemics, terrorist acts, and acts of governmental authorities. 

  
 15 

 24. Governing Law. This Agreement is governed by the laws of the State of New York, excluding
conflicts rules, and the parties agree to submit to the jurisdiction of the state and federal courts in New York County, New York for the resolution of all disputes under or relating to this Agreement or its performance. 

25. Publicity. Neither Party shall make any public statement or disclose the existence or terms of this Agreement without the express written
consent of the other Party (email is sufficient). 
 26. Non-Solicitation. During the Term and for one
(1) year following the expiration or termination of this Agreement, neither Party may solicit for hire any agent, employee or officer of the other Party who worked on transactions contemplated hereby without the other Party’s express
written consent; provided, however, that this provision shall not prohibit either Party from soliciting or hiring any person who responds to a general advertisement or solicitation that is not specifically directed at the other Party’s
employees. 
 27. Taxes. Rock shall be solely responsible for the preparation and submission to applicable authorities of its Agents or other
employees’ income tax and FICA forms and the payment of all such persons’ salaries, employer contributions and employee benefits. Vroom shall be solely responsible for all applicable federal, state and local taxes and charges arising out
of or related to sales of the Products and any such taxes shall be assumed and paid for by Vroom. Rock and Vroom shall be solely responsible for the preparation and submission to applicable authorities of their respective federal, state and local
income taxes attributable to income derived by each such Party in connection with the subject matter of this Agreement. 
 28. Entire Agreement;
Modifications. This Agreement, including all Appendices hereto, represents the entire agreement between Vroom and Rock with respect to the subject matter hereof, and supersedes all prior negotiations, representations, contracts, agreements and
amendments, whether written or oral, relating to such subject matter. This Agreement, including all Appendices hereto, may not be modified or amended in any manner absent a writing signed by both parties. 

29. No Third-Party Beneficiaries. This Agreement is made solely for the benefit of the Parties and their successors and permitted assigns, and no third
party shall have any right, benefit or interest under or because of this Agreement, except as otherwise specifically provided for herein. 
 30.
Severability; Waiver. If any provision of this Agreement, or any Appendix hereto, is determined to be illegal or unenforceable for any reason, it shall be severed from this Agreement and the remainder of the terms and conditions shall be
given full force and effect. A failure of either Party to exercise any right provided for herein, shall not be deemed to be a waiver of any right hereunder. 

31. Headings. The headings contained in this Agreement or any other Exhibit or are inserted only as a matter of convenience and for reference and
in no way define, limit or describe the scope or intent of this Agreement, nor in any way affect the terms and provisions hereof. 
 32. Surviving
Sections. The following Sections of the Agreement shall survive the termination or expiration of the Agreement: Sections 5(h)-(i), 8(b), 9, 10, 12, 14, 15(b)-(c), 15(g), 21, 24-

  
 16 

 
32. Further, Sections 15(a), (d), (e), (f) and (h) shall survive for so long as Personal Information is retained by Rock. 

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first set forth above. 

 

									
	 Left Gate Property Holding LLC 

d/b/a/ Texas Direct Auto or Vroom
	 		 	Rock Connections LLC
					
	By:	 	 /s/ Paul Hennessy
	 		 	By:	 	 /s/ Victor You

	Name: Paul Hennessy	 		 	Name: Victor You
	Title:   CEO	 		 	Title:   CEO

  
 17 

 APPENDIX A 

FEE SCHEDULE 
 [***]

  
 18 

 APPENDIX B 

Service Level Agreement 
 1.
CALLING PARAMETERS 
 A. Hours of Operation (outbound & inbound): Except
as otherwise agreed in writing by Vroom and Rock, Monday—Friday 9:00 AM—10:00 PM Eastern Time, Saturday 9:00 AM—8:00 PM Eastern Time, and Sunday 11:00 AM—8:00 PM Eastern Time. Rock shall not be open and no calls shall be
made or received on: (i) New Year’s Day, (ii) Thanksgiving Day, and (iii) Christmas Day. Throughout the year additional holiday and/or “no calling” dates may be designated by Vroom. Additionally, if a customer indicates
that he/she is observing a holiday, the call should be politely terminated. Calling hours may also be adjusted to comply with federal, local and state laws. Upon 30 days written notice from Vroom to Rock, the hours of operation may be altered. 

B. Outbound Calls: Rock shall only contact those consumers (as provided by Vroom) who (i) initiated contact
with Vroom regarding one or more of its Vehicles, or (ii) completed an application, made an inquiry, or submitted their contact information on Vroom’s website, or any other Site listing Vroom’s Vehicles, or otherwise provided prior
express consent to being contacted regarding one or more of Vroom’s Vehicles or a Transaction. Rock shall not initiate communications with consumers outside of this scope and, in particular, Rock shall not place or send unsolicited
telemarketing calls to consumers. If a consumer opts-out after being contacted by an Agent, Rock shall not contact such consumer again, and shall provide Vroom with an updated do-not-call list with each monthly invoice. 
 C. Caller ID (outbound):
Rock shall comply with applicable state and federal Caller ID requirements, to the extent applicable.  
 D.
“May I Continue” (outbound): Rock shall comply with state laws regarding asking permission to continue a sales presentation, to the extent applicable. 

E. No Rebuttal States (Outbound & Inbound): Rock shall comply with state laws
regarding terminating a call upon receiving a “no” from a consumer, to the extent applicable. 
 F.
Recording/Monitoring Notification (Outbound & Inbound): Rock shall comply with applicable federal and state laws regarding notice and consent prior to recording a call. 

2. QUALITY ASSURANCE 
 Rock agrees to develop, in
conjunction with Vroom, Quality Assurance (“QA”) guidelines that apply to the Services. 

  
 19 

 3. TECHNOLOGY NEEDS 

The following technology needed for the Services shall be provided and paid for by Vroom and maintained at a level such that Rock may perform the Services
without unreasonable interruption or interference. Vroom reserves the right to change the service providers listed below from time to time. 

[***] 
 4. UPDATES 

Rock may, in its sole discretion, upgrade, update or change the technology and systems in the Facility (each, an “Update”). Rock shall provide Vroom
with at least ten (10) business days’ notice of any Updates, and any Updates made by Rock shall be implemented at a time and in a manner designed to minimize any disruption to the Services. 

5. MAINTENANCE WINDOWS 
 Rock, from time to time, may
conduct systems maintenance to ensure the proper operation of the technology and systems at the Facility. Rock will use commercially reasonable efforts to schedule any non-emergency preventive maintenance at
least ten (10) business days in advance and to provide at least ten (10) business days’ notice of such scheduled maintenance work to Vroom. Rock shall not have any system maintenance conducted during the hours of operation noted
above. 
 6. SERVICE LEVELS 
 SLA Violation 

SLA Violation means a failure to satisfy any of the following performance standards measured on a monthly average basis: 

[***]
 Rock will promptly notify Vroom of any SLA
Violation and the Parties agree to meet and work together in good faith to resolve the SLA Violation(s) within one (1) month. 

  
 20

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00309-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00309-of-00352.parquet"}]]