Common use of Parcel Map Clause in Contracts

Parcel Map. The Parcel Map will create three (3) airspace lots within a single parcel of land (Parcel 1) in which the owners of the airspace lots will hold an undivided interest in the land that provides required access, parking, emergency egress and utilities to the airspace lots. The land area of Parcel 1 shall be used to determine compliance with development standards, including, but not limited to floor area ratio, setbacks, emergency access/egress and yards. The Parcel Map will result in airspace subdivision with required parking, access, emergency egress and utilities to both of the existing buildings and the proposed building (airspace Lots A, B and C) being provided within and across the land of Parcel 1. Consequently, the Developer shall record or cause to be recorded a covenant and reciprocal easement agreement in the form of Exhibit “O” attached hereto (the “CC&Rs”) to assure that sufficient parking, necessary access and utilities will at all times be provided for each building on the Property in accordance with this Development Agreement and all other applicable requirements. Parcel 1 and Lots A, B and C will become separate legal parcels following recordation of the final Parcel Map. Following such recordation, this Development Agreement shall only apply to Parcel 1 and Lot C and the City agrees to execute and record such documents or instruments as may be reasonably necessary to release Lots A and B from this Agreement and to substitute a revised legal description to this Agreement. The time period for finalizing the tentative Parcel Map shall be governed by the Subdivision Map Act and the City Subdivision Ordinance.

Parcel Map. The Parcel Map will create three two (32) airspace lots within a single parcel of land (Parcel 1) in which the owners of the airspace lots will hold an undivided interest in the land that provides required access, parking, emergency egress and utilities to the airspace lots. The land area of Parcel 1 shall be used to determine compliance with development standards, including, but not limited to floor area ratio, setbacks, emergency access/egress and yards. The Parcel Map will result in airspace subdivision with required parking, access, emergency egress and utilities to both of the existing buildings building and the proposed building (airspace Lots A, B A and CB) being provided within and across the land of Parcel 1. Consequently, the Developer shall record or cause to be recorded a covenant and reciprocal easement agreement in the form of Exhibit “OQ” attached hereto (the “CC&Rs”) to assure that sufficient parking, necessary access and utilities will at all times be provided for each building on the Property in accordance with this the Development Agreement and all other applicable requirements. Parcel 1 and Lots A, A and B and C will become separate legal parcels following recordation of the final Parcel Map. Following such recordation, this Development Agreement shall only apply to Parcel 1 and Lot C B and the City agrees to execute and record such documents or instruments as may be reasonably necessary to release Lots Lot A and B from this Agreement and to substitute a revised legal description to this Agreement. The time period for finalizing the tentative Parcel Map shall be governed by the Subdivision Map Act and the City Subdivision Ordinance.