Common use of Redevelopment of Project Clause in Contracts

Redevelopment of Project. Licensor currently intends to redevelop the Project (the “Redevelopment”) to, among other things, (a) consolidate and resubdivide some of the existing CPR Ag Lots to create additional, reconfigured CPR Ag Lots, including a CPR Ag Lot roughly approximating the location and boundaries of the Ag Lot (the “Converted CPR Ag Lot”); (b) convert certain CPR Ag Lots (or portions thereof) to common elements of the Project or certain common elements of the Project to CPR Ag Lots (or portions thereof); (c) set aside portions of the Project for the potential future development of a plantation camp-style cluster development (the “Plantation Camp”); (d) extend the Development Period (as defined in the Declaration) and the Developer’s Control Period (as defined in the Declaration) to facilitate Licensor’s redevelopment of the Project;