Common use of Development Phasing Schedule Clause in Contracts

Development Phasing Schedule. The parties acknowledge that the Property Owner intends to develop the Real Property in phases. In accordance with the Act, the Property Owner shall develop the Real Property in a manner consistent with the Development Phasing Schedule as is set forth in Exhibit C hereto. As the timing of the Development will be affected by the health of the national and local economics as well as demand for various housing types and commercial and industrial uses in the region, it is difficult to accurately project the timing and scope of the Project. As such and using the most reliable information as of the Effective Date, the Property Owner and Town agree upon the Development Phasing Schedule, which may be updated by the Developer in its sole discretion as part of the annual periodic review required by the Act.

Development Phasing Schedule. The parties acknowledge that the Property Owner intends to develop the Real Property in phases. In accordance with the Act, the Property Owner shall develop the Real Property in a manner consistent with the Development Phasing Schedule as is set forth in Exhibit C hereto. As the timing of the Development will be affected by the health of the national and local economics as well as demand for various housing types and commercial and industrial uses in the region, it is difficult to accurately project the timing and scope of the Project. As such and using the most reliable information as of the Effective Date, the Property Owner and Town agree upon the Development Phasing Schedule, which may shall be updated by annually during the Developer in its sole discretion as part of the annual periodic review required by the Act.