Common use of Phase 1A of the Project Clause in Contracts

Phase 1A of the Project. 1. Pre-construction and construction activities related to the VRE Garage. a. If the Deed of Boundary Line Adjustment is executed and the Phase 1A Rezoning is approved by the Governing Body, the City will close on (i) the purchase of the ▇▇▇▇▇▇▇▇▇▇▇ Tract using the Phase 1A Initial Deposit to pay the purchase price set forth in the ▇▇▇▇▇▇▇▇▇▇▇ Contract, and (ii) complete the conveyance of Lot 4-2 to the Developer as otherwise provided herein. The forms of the deeds conveying Lot 4-2 to the Developer and the ▇▇▇▇▇▇▇▇▇▇▇ Tract to the City must be approved by the City Attorney. b. The Developer may elect to place the executed deed for Lot 4-2 into escrow for any period during which an appeal of the approval of the Phase 1A Rezoning may be filed with the Circuit Court of Prince William County. Upon the expiration of such appeal period, if an appeal has not been filed, title to Lot 4-2 will be conveyed to the Developer. c. The City will convey or lease Lot 5-1 to the VRE for the construction of the VRE Garage and access thereto at such time as the City and the VRE mutually agree. d. The City will acquire Lot 1A, through either arms-length negotiations or the exercise of the power of eminent domain, if necessary, using the Phase 1A Second Deposit, as provided herein. e. In accordance with the Interim Budget, which is attached hereto as Exhibit C and incorporated herein by reference, the Developer will demolish all structures on Lot 5-1 down to the existing grade for construction of the VRE Garage and will clear Lot 1A and Lot 6 for construction of the New City Hall, the associated public parking, and the stormwater management facilities and utilities to be constructed and installed on Lots 1A and 6. f. If the VRE elects not to construct the VRE Garage, then this Agreement will immediately become voidable by the Developer or the City, except (i) that the City will retain ownership of the ▇▇▇▇▇▇▇▇▇▇▇ Tract and the Developer will retain ownership to Lot 4-2 if the closings for those parcels have already occurred, and (ii) to the extent otherwise provided herein.

Phase 1A of the Project. 1. Pre-construction and construction activities related to the VRE Garage. a. If the Deed of Boundary Line Adjustment is executed and the Phase 1A Rezoning ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇ is approved by the Governing Body, the City will close on (i) the purchase of the ▇▇▇▇▇▇▇▇▇▇▇ Tract using the Phase 1A Initial Deposit to pay the purchase price set forth in the ▇▇▇▇▇▇▇▇▇▇▇ Contract, and (ii) complete the conveyance of Lot 4-2 to the Developer as otherwise provided herein. The forms form of the deeds deed conveying Lot 4-2 to the Developer and the ▇▇▇▇▇▇▇▇▇▇▇ Tract to the City must be approved by the City Attorney. b. The Developer may elect to place the executed deed for Lot 4-2 into escrow for any period during which an appeal of the approval of the Phase 1A Rezoning ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇ may be filed with the Circuit Court of Prince William ▇▇▇▇▇▇▇ County. Upon the expiration of such appeal period, if an appeal has not been filed, title to Lot 4-2 will be conveyed to the Developer. c. The City will convey or lease Lot 5-1 to the VRE for the construction of the VRE Garage and access thereto at such time as the City and the VRE mutually agree. d. The City will acquire Lot 1A, through either arms-length negotiations or the exercise of the power of eminent domain, if necessary, using the Phase 1A Second Deposit, as provided herein. e. In accordance with the Interim Budget, which is attached hereto as Exhibit C and incorporated herein by reference, the Developer will demolish all structures on Lot 5-1 down to the existing grade for construction of the VRE Garage and will clear Lot 1A and Lot 6 for construction of the New City ▇▇▇ ▇▇ ▇▇▇ ▇▇▇ ▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇ ▇▇▇▇ Hall, the associated public parking, and the stormwater management facilities and utilities to be constructed and installed on Lots 1A and 6. f. If the VRE elects not to construct the VRE Garage, then this Agreement will immediately become voidable by the Developer or the City, except (i) that the City will retain ownership of the ▇▇▇▇▇▇▇▇▇▇▇ Tract and the Developer will retain ownership to Lot 4-2 if the closings for those parcels have already occurred, and (ii) to the extent otherwise provided herein.