Building A Clause Samples
Building A. To be located at the northwest corner of Abbot Road and Grand River Avenue. This building will be constructed by the Developer on a development parcel created by properties owned by the Developer, the portion of Evergreen Avenue right of way south of ▇▇▇▇▇▇ Avenue, and a portion of the DDA’s ▇▇▇ ▇▇▇▇▇ ▇▇▇▇ property. The portion of the DDA 303 Abbot Property necessary for the construction of Building A and the portion of Evergreen Avenue right of way shall be transferred to the Developer by the DDA and the City, respectively, in accordance with the terms of this Agreement and a Land Transfer Agreement attached hereto as Exhibit F. Building A will be a 13-level, 416,000 gross square feet in area, mixed-use building having retail uses and residential and hotel lobbies on the first floor. The remaining floors will have parking, office space, hotel amenities including meeting rooms, a ballroom, and rooftop restaurant/lounge, guest rooms, and mixed-market residential rental units as shown on the Site Plan. Building A will have a public plaza located at the corner of West Grand River and Abbot. This building will be owned by the Developer and operated by entities retained by the Developer. All residential units developed for lease shall be mixed-market rentals (as defined in the East Lansing Zoning Code Sec. 50-7). Building A shall comply with the approved Site Plan (Exhibit D) and Building Summary (Exhibit E), without deviation or amendment unless otherwise approved pursuant to Section 50-3(k) of the East Lansing City Code. The building structure shall not exceed 140 feet in height as measured from grade at the hotel entry shown on the Site Plan, excluding communication transmission equipment less than 15 feet in height above the roof, architectural embellishments less than 15 feet in height above the roof, stair and elevator towers, or mechanical infrastructure servicing the building or third parties and less than 15 feet in height above the roof affixed to the top of the building. Developer shall be responsible for soft and hard costs, including permits and review fees associated with Building A, subject to reimbursement for eligible activities from ▇▇▇▇▇▇▇▇▇▇ Plan #23, as amended by the City Council, dated April 25, 2017, together with an Act 381 Work Plan and tax increment financing reimbursement approved by the Michigan Department of Environmental Quality (“MDEQ”), Michigan Economic Development Corporation (“MEDC”), and Michigan Strategic Fund Board (“MSF”)...
Building A. Building A would contain approximately 48,570 gross square feet with a height from 46.5 to 57 feet. The ground floor would include approximately 7,280 square feet of commercial space. Portions of the ground floor and the second through fourth floors of Building A would be comprised of 46 residential condominium units containing, in the aggregate, approximately 41,300 square feet of space. Building A will also include a rooftop deck with a pool, a gym and restroom facilities to serve as common area amenities for the residents of Buildings A, B and C.
Building A. The term “Building A” shall mean that building containing approximately one hundred fifty one thousand thirty five (151,035) rentable square feet and all improvements owned by Landlord and installed therein, shown as Building A on Exhibit “A” attached hereto and commonly known as ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇. Building A is comprised of two (2) parts: a 6-story portion containing approximately one hundred fifty thousand one hundred twenty eight (150,128) rentable square feet, and a corridor at the third (3rd) floor containing approximately nine hundred seven (907) rentable square feet that connects Building A and Building B (defined below).
Building A. Convert the current three (3) office spaces into classrooms, with such classrooms of similar quality and finishes as provided in similar campuses in the District. LESSOR shall (i) complete the Approved Alterations in a manner and quality that is consistent with other projects to campuses similar to the PROPERTY within the District; and (ii) not materially disrupt, interfere, or affect ▇▇▇▇▇▇’s use of the PREMISES or operation of its charter school. If LESSOR has not completed the above-noted Approved Alterations within the first year of the Term, LESSEE may at its election, but will not be obligated to, either (i) complete the Approved Alterations, in consultation with LESSOR and subject to LESSOR approval, which approval shall not be unreasonably withheld, and all sums reasonably disbursed, deposited or incurred by LESSEE in connection with such work shall be due and payable by LESSOR to LESSEE on demand by LESSEE; or (ii) terminate this Agreement.
Building A. One Million Eight Hundred Seventy Thousand and 00/100 Dollars ($1,870,000.00) (the “Building A Purchase Price”); and
Building A. At Settlement and subject to the terms and conditions of this Agreement, Purchaser shall pay the Building A Purchase Price as follows:
(i) One-half (1/2) of the Deposit shall be credited for the benefit of Purchaser against the Building A Purchase Price; and
(ii) Purchaser shall use its good faith efforts to obtain a commercial first leasehold deed of trust loan from Fauquier Bank, or another financial institution of Purchaser’s choice, in the approximate sum of One Million Thirty Eight Thousand and 00/100 Dollars ($1,038,000.00) (the “Building A Bank Loan”). The net loan proceeds under the Building A Bank Loan received by Purchaser shall be applied to the Building A Purchase Price at Settlement; and
(iii) The balance of the Building A Purchase Price shall be paid by Purchaser to Seller at Settlement in the form of a promissory note (the “Note”). The Note shall be amortized and payable in full over a period of ten (10) years in equal monthly installments of principal and interest at the rate of 6.5% per annum, commencing on the first day of the second month following the Settlement Date. The Note shall otherwise be negotiable and in a commercially reasonable form mutually acceptable to Purchaser and Seller, but shall, in addition to such other terms and conditions as may be set forth therein, provide: (a) that Purchaser’s liability for further payments thereunder shall cease if the Franchise terminates for any reason other than by reason of an uncured event of default thereunder by Purchaser following Purchaser assumption, including, without limitation, as result of casualty, condemnation, war, national emergency or for any other reason as may be contemplated by the Franchise; and (b) that if any sums shall become due to Purchaser after Settlement under Article 12.0 hereof, Purchaser may offset those sums against the amounts due Seller or its successors or assigns under the Note. The Note shall be secured by a Purchase Money Leasehold Second Deed of Trust With Assignment of Interests, Rents and Leases in a commercially reasonable form mutually acceptable to Purchaser and Seller against Purchaser’s leasehold interest in the Land or so much thereof as may ultimately be subject to a revised or new Franchise Agreement relating to Building A (the “Seller’s Deed of Trust”).
Building A