Common use of No Obligation to Build Clause in Contracts

No Obligation to Build. Nothing contained in this Agreement shall create any obligation of the Owner to construct all or any portion of the Project, provided however, that the promises, covenants and restrictions contained herein shall remain binding upon the Owner and the Town and their respective successors, assigns, mortgagees and all others taking title in fee or otherwise acquiring an interest to a part or all of the Property, for the longest period permitted by law.

Appears in 2 contracts

Sources: Memorandum of Agreement, Memorandum of Agreement