Common use of In Lieu Payments Clause in Contracts

In Lieu Payments. As part of the consideration for this Agreement and the 2013 SUP for Area F, Owner agrees that the then current Owner of any Resort Estates lot within Development Area F that is not used as a Hotel Key or otherwise used exclusively for the purpose of renting under agreements having an occupancy term of less than thirty (30) days (such lot constituting an “Obligated Unit”) shall make in lieu payments (each such payment being an “In Lieu Payment”) to the Town, as follows:

In Lieu Payments. As part of the consideration for this Agreement and the 2013 SUP for Area FSUP, Owner agrees that the then current Owner of any Resort Estates Estate lot within Development Area F E or Resort Residential unit within Development Area B that is not used as a Hotel Key or otherwise used exclusively for the purpose of renting under agreements having an occupancy term of less than thirty (30) days (such lot or unit constituting an “Obligated Unit”) shall make in lieu payments (each such payment being an “In Lieu Payment”) to the Town, as follows: