Subdivision of the Property Clause Samples

The "Subdivision of the Property" clause defines the terms and conditions under which a property may be divided into smaller parcels or lots. It typically outlines the process for obtaining necessary approvals from relevant authorities, specifies any restrictions or requirements for subdivision, and may address the allocation of costs or responsibilities between parties. This clause ensures that both parties understand the legal and procedural steps involved in subdividing the property, thereby preventing disputes and clarifying each party’s rights and obligations in the event of a subdivision.
Subdivision of the Property. Developer shall prepare a recombination subdivision plan (the "Subdivision Plat") to divide the Property into Parcel 1 and Parcel 2 in a manner materially similar to the concept plan attached hereto at Exhibit B, and Developer and County shall cooperate to obtain approval for and record said Subdivision Plat to facilitate the establishment of Parcel 1 and Parcel 2 as independent parcels of land.
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Subdivision of the Property. Developer shall file a plat application for Tract 1 with the City in compliance with the City’s Charter, Code of Ordinances and the rules and regulations of the City as amended by this Agreement within six (6) months from the Effective Date. SJA shall file a plat application for Tract 2 with the City in compliance with the City’s Charter, Code of Ordinances and the rules and regulations of the City as amended by this Agreement prior to the expiration of the term provided in Section 2.02 above providing for sufficient time to record the
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Subdivision of the Property. The Developer and ▇▇▇▇▇▇ may cause the Property to be a legally platted lot or lots using the short form final platting process set forth in Chapter 10, City Code of Ordinances (the “Subdivision Ordinance”), modified as provided in this Agreement. The City agrees that the short form plat will be processed in accordance with the Short Form Final Plat procedure even though the short form plat contains more than four (4) lots. The City acknowledges that the short form plat includes additional land which is not part of the Development Property subject to this Agreement, i.e. Lots 2, 3 and 4 as shown on the short form plat are owned by ▇▇▇▇▇▇ and are not entitled to any benefits or subject to any obligations under this Agreement. ▇▇▇▇▇▇ agrees to execute the final plat for the Property as approved by the City, ▇▇▇▇▇▇ and the Developer and joins this Agreement only for the purposes set forth in the Sections and Article listed in the first paragraph of this Agreement. ▇▇▇▇▇▇ will have no rights or obligations with respect to the Development Property arising from any other portion of this Agreement. For purposes of clarity, the Proposed Plat is not deemed approved by virtue of being attached to this Agreement, and it must be separately approved by the City through the normal City process.
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Subdivision of the Property. If Borough code requires the property to be subdivided, promptly upon execution of this Agreement, the MSB shall undertake to subdivide the Property into Tracts as depicted in the attached Appendix .
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Subdivision of the Property. (a) The Developer may cause the Property to be a legally platted lot or lots using the short form final platting process set forth in Chapter 10, City Code of Ordinances (the “Subdivision Ordinance”), modified as provided in this Agreement. It shall be a condition of approval of the short form final plat that the Developer has posted fiscal for the extension of the Phase 2 waterline from CR 269 to the eastern edge of the Property. (b) The Developer shall pay a fee in lieu of the required sidewalk along Hero Way in the amount of $8.00 per square foot. (c) The Developer shall pay a fee in lieu of the required street trees in the amount of $150.00 per caliper inch. The amount shall be equal to the required number and species of street trees that would be required in accordance with all current City standards, specifications and criteria for the installation of street trees set forth in the City’s Subdivision Ordinance.
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Subdivision of the Property. The Developer may cause the Property to be a legally platted using the short form final platting process set forth in Chapter 10, City Code of Ordinances
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Subdivision of the Property. The Developer may cause the Property to be a legally platted lot or lots using the short form final platting process set forth in Chapter 10, City Code of Ordinances (the “Subdivision Ordinance”), modified as provided in this Agreement.
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Related to Subdivision of the Property

  • Operation of the Property Between June 1, 1998 and the Closing Date, Seller shall (a) lease, operate, manage and enter into contracts with respect to the Property, in the same manner done by Seller prior to the date hereof (provided, however, that without the prior consent of Purchaser, which as to (i) and (ii) shall not be unreasonably delayed, conditioned or withheld, (i) Seller shall not enter into any Service Contract that cannot be terminated with thirty (30) days notice or materially modify any existing Service Contracts to be assumed by Purchaser at Closing, and (ii) after June 1, 1998, Seller shall not materially modify or terminate any existing Tenant Lease or grant any material consents under any existing Tenant Lease (except as otherwise required pursuant to the terms and conditions of such Tenant Lease), or enter into any new Tenant Lease, and (iii) Seller shall not apply any then unapplied Deposits (as reflected on the Rent Roll delivered by Seller to Purchaser pursuant to Schedule 5.3(vii) hereof) under Tenant Leases); and (b) advise Purchaser of the commencement of any litigation, condemnation or other judicial or administrative proceedings affecting the Property of which Seller has current actual knowledge. Notwithstanding anything to the contrary set forth in this Contract, Purchaser acknowledges that after June 1, 1998 and prior to Closing, Seller will enter into contracts for the completion of Tenant improvements under Tenant Leases entered into after June 1, 1998 pursuant to the terms of Section 12.1 hereof (collectively, the "Tenant Finish Contracts"). Purchaser and Seller agree that at Closing, Purchaser shall assume the obligations of Seller under all such Tenant Finish Contracts including, without limitation, the obligations to pay any costs and expenses charged with respect to construction of improvements in the space subject to such Tenant Leases. At Closing, Purchaser shall execute and deliver to the Seller an Assignment, Assumption and Indemnity Agreement in the form attached hereto as Exhibit H and made a part hereof for all purposes.

  • Condition of the Property All bidders shall be deemed to have carried out all investigations and examinations of the Property and the title particulars at their own costs and expenses and upon being successful, accept the property in the state and condition in which the Property is at the date of the auction sale.

  • Possession of the Property The Parties hereby agree that the exclusive possession of the Property shall be delivered by the Seller to the Buyer on

  • DESCRIPTION OF THE PROPERTY 13.1 The Property as referred to in the Proclamation of Sale shall be deemed to have been correctly and sufficiently described. 13.2 All intended bidders including the Purchaser shall be deemed to have sought independent legal advice, made necessary enquiries, searches and inspection of the Property and is satisfied with the identity, description, state and condition of the Property. 13.3 In the event of any error, misstatement, omission and/or misdescription of any kind relating to the Property in the Proclamation of Sale or any other documents, such error, misstatement, omission and/or misdescription shall not in any manner annul the sale, nor shall there be any adjustment of the Purchase Price nor shall compensation be allowed nor shall the Bank be open to any liability of any form. 13.4 If the land or floor area of the property is found to exceed that as described and additional payment is imposed for the excess area by the Developer and/or relevant authorities, then such additional payment shall be solely and absolutely borne and paid by the Purchaser 13.5 If the land or floor area of the property is found to be less that as described, any claim for the reduced area shall be undertaken solely by the Purchaser against the Developer and/or such party and neither the Assignee/ Bank , the Assignee/ Bank’s solicitors nor the Auctioneer shall in any way responsible or liable for such claim. The auction sale herein shall not be annulled and there shall not be any adjustment of the Purchase Price as a result of such shortfall in the area of the Property.

  • CONSTRUCTION OF THE PROJECT/ APARTMENT The Allottee has seen the proposed layout plan, specifications, amenities and facilities of the [Apartment/Plot] and accepted the floor plan, payment plan and the specifications, amenities and facilities [annexed along with this Agreement] which has been approved by the competent authority, as represented by the Promoter. The Promoter shall develop the Project in accordance with the said layout plans, floor plans and specifications, amenities and facilities. Subject to the terms in this Agreement, the Promoter undertakes to strictly abide by such plans approved by the competent Authorities and shall also strictly abide by the bye-laws, FAR and density norms and provisions prescribed by the [Please insert the relevant State laws]and shall not have an option to make any variation /alteration / modification in such plans, other than in the manner provided under the Act, and breach of this term by the Promoter shall constitute a material breach of the Agreement.