Encumbrance of the Project Area Clause Samples

Encumbrance of the Project Area. (a) Until the Completion Date of all Phases of the Minimum Improvements and Public Infrastructure Improvements, neither the Master Redeveloper, nor any successor in interest to the Master Redeveloper (which specifically includes any Secondary Redeveloper), will engage in any financing or any other transaction creating any mortgage (a “Mortgage”) or other encumbrance or lien upon the Project Area, or portion thereof, whether by express agreement or operation of law, or suffer any encumbrance or lien to be made on or attach to the Project Area except for the purpose of obtaining funds only to the extent necessary for constructing the Public Infrastructure and constructing and developing the Minimum Improvements (including, but not limited to, land and building acquisition, labor and materials, professional fees, real estate taxes, construction interest, organization, marketing and other direct or indirect costs of Minimum Improvements, costs of constructing the Minimum Improvements, and an allowance for contingencies). (b) This restriction on encumbrance shall terminate with respect to any Element or Phase of the Minimum Improvements, upon delivery of the Certificate of Completion for such Element or Phase of the Minimum Improvements. The Master Redeveloper or any successor in interest to the Minimum Improvements or portion thereof, may sell or engage in financing or any other transaction creating a mortgage or encumbrance or lien on the Minimum Improvements or portion thereof for which a Certificate of Completion has been obtained, without obtaining the prior written approval of the Authority.
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Encumbrance of the Project Area 
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Related to Encumbrance of the Project Area

  • Development of the Property Except as modified by this Agreement, the Development and the Property will be developed in accordance with all applicable local, state, and federal regulations, including but not limited to the City’s ordinances and the zoning regulations applicable to the Property, and such amendments to City ordinances and regulations that that may be applied to the Development and the Property under Chapter 245, Texas Local Government Code, and good engineering practices (the “Applicable Regulations”). If there is a conflict between the Applicable Regulations and the Development Standards, the Development Standards shall control.

  • The Property The Landlord agrees to lease the described property below to the Tenant: (enter the property information) Mailing Address: [PROPERTY MAILING ADDRESS] Residence Type: ☐ Apartment ☐ House ☐ Condo ☐ Other: [OTHER] Bedroom(s): [# OF BEDROOMS] Bathroom(s): [# OF BATHROOMS] The aforementioned property shall be leased wholly by the Tenant (“Premises”).

  • The Project The Project is the total construction of which the Work performed under the Contract Documents may be the whole or a part.