Common use of Survey Conditions Clause in Contracts

Survey Conditions. On or before the date that is 60 days after the date on which Company receives the last of the Title Commitment (including the exception documents referenced therein) and the Survey, Company shall have determined that the Survey: (i) describes the perimeter of the Project Site as a single parcel without gaps, gores, or overlaps; (ii) shows no material encroachments thereto; (iii) shows no Title Defects thereto, other than those Title Defects that Company waives or is deemed to have waived pursuant to the terms and conditions of this Agreement, and those that will be “insured over” or removed at the Closing; (iv) establishes that no part of the those parcels is located within: (A) a “flood hazard zone”, as shown on the applicable Federal Insurance Rate Map; or (B) a “floodway” or “flood plain”, as shown on the applicable Flood Control District Map; provided that to the extent that a portion of the Project Site is located within a “flood hazard zone”, “floodway” or “”flood plain”, such circumstance in and of itself shall not constitute a failure of this condition unless, as a result, there will be material and adverse interference with the construction and/or use of the Projects, or construction of the Projects will be rendered unusually difficult or costly; and (v) otherwise reasonably is acceptable to Company. Prior to Closing, the Survey shall establish the precise legal description of the Project Site for the purposes of the Plat, title insurance, and closing documents; provided that, if a separate survey is not obtained in connection with the conveyance of the Town Conveyance Parcel, then the Survey also shall establish the precise legal description of the Town Conveyance Parcel for purposes of such conveyance. The Plat, once recorded, shall establish the legal description of each parcel within the Project Site (including, without limitation, the Mixed-Use Parcel).

Survey Conditions. On or before the date that is 60 days after the date on which Company receives provides to the Town Bodies the last of the Title Commitment (including the exception documents referenced therein) and the Survey, Company the Town Bodies shall have determined that the Survey: (i) describes the perimeter of the Project Site as a single parcel without gaps, gores, or overlaps; (ii) shows no material encroachments thereto; (iii) shows no Title Defects thereto, other than those Title Defects that Company waives the Town Bodies waive or is are deemed to have waived pursuant to the terms and conditions of this Agreement, and those that will be “insured over” or removed at the Closing; (iv) establishes that no part of the those parcels is located within: (A) a “flood hazard zone”, as shown on the applicable Federal Insurance Rate Map; or (B) a “floodway” or “flood plain”, as shown on the applicable Flood Control District Map; provided that to the extent that a portion of the Project Site is located within a “flood hazard zone”, “floodway” or “”flood plain”, such circumstance in and of itself shall not constitute a failure of this condition unless, as a result, there will be material and adverse interference with the construction and/or use of the Projects, or construction of the Projects will be rendered unusually difficult or costly; and (v) otherwise reasonably is acceptable to Companythe Town Bodies. Prior to Closing, the Survey shall establish the precise legal description of the Project Site for the purposes of the Plat, title insurance, and closing documents; provided that, if a separate survey is not obtained in connection with the conveyance of the Town Conveyance Parcel, then the Survey also shall establish the precise legal description of the Town Conveyance Parcel for purposes of such conveyance. The Plat, once recorded, shall establish the legal description of each parcel within the Project Site (including, without limitation, the Mixed-Use Parcel).