Deed Restriction Sample Clauses

Deed Restriction. If construction has not begun on a lot within 12 months of the date of the recorded deed from Developers, the owner of record, at Developers request, agrees to deed the property back to the developer for 90% of the original sales price. (i.e. paid $60,000 on 7/14, receive $54,000 on 7/15.) The current owner will not be reimbursed for taxes, closing costs or interest from the time the lot was purchased from the Developers. Developer will pay deed preparation, recording fees and transfer stamps.
Deed Restriction. Buyer acknowledges and agrees that the Property shall be conveyed subject to a deed restriction that provides the owner of the Property shall not operate, sell, lease or allow the operation, sale or lease of the Property as or for a Banking Use for a period of six (6) months from the recording of the deed (the “Use Restriction”). For purposes of the Use Restriction, a Banking Use shall mean a state and/or national bank, national savings bank, national branch banking facility, federally insured credit union, automated teller machine associated with the foregoing (“ATM”), and/or federally chartered savings and loan institution. The Use Restriction shall run with and bind title to the Property for such six (6) month period and Buyer shall incorporate the Use Restriction by reference in any conveyance or leasehold estate of all or any portion of the Property.
Deed Restriction. Prior to Closing, Seller shall record a deed restriction to prohibit the use of the property for a charter school. Xxxxxxxxx agrees to abide by this restriction.
Deed Restriction. In compliance with the requirements of the HOME Program which is providing a portion of the funding for this project, a Deed Restriction shall be recorded against the property comprising the Project. Said Deed Restriction shall restrict the rent and occupancy of units in accordance with the requirements of the HOME Investment Partnership Act. The term of said Deed Restriction shall be 10 years, and shall stand independent of this Agreement. The Deed Restriction shall only affect the 10 HOME units and shall stand in addition to any restriction imposed by this Agreement.
Deed Restriction. Notwithstanding and without limiting any other provision of this Agreement, Buyer acknowledges and agrees that, (a) Seller’s application and participation in the VCP and the RAP are based upon non-residential use of the Property, and (b) prior to Closing, Seller has the right and may, in its sole discretion, record in the land records of the local jurisdiction a deed restriction on the permissible uses of the Property as non-residential, such as restricted commercial and/or restricted industrial use.
Deed Restriction. Upon the Owner’s receipt of all certificates of occupancy from the Town’s building commissioner for construction of the Xxxxxxx Building, or ten (10) years after the recording of the Notice specified in Section 5.06.4.
Deed Restriction. The Affordable Units shall be deed restricted for a period of fifty (50) years, as further described in Section 2.3.
Deed Restriction. The Affordability Requirements shall be secured by a deed restriction and a Declaration of Restrictive Covenants (“Declaration”) on each property in substantially the same form as the document attached as Exhibit 3 and shall be recorded with the Davidson County Register of Deeds.
Deed Restriction. The Grantee shall have the following condition recorded with the deed to all lands within the park as described in Attachment BBoundary Map, incorporated in this contract, and submit an attested copy of the deed and the condition to the State: In order to comply with the Department of Natural Resources Park Legacy Project Contract, Olmsted County does hereby impose the following restrictions on the property described in Attachment B to that contract:
Deed Restriction. Promptly after the Closing, Purchaser and/or its Affiliates, at Purchaser’s or such Affiliate’s sole cost and expense, agree (to the extent allowed under applicable Laws and/or customary practice) to record with the recorder’s office or other appropriate office having jurisdiction over the real property set forth on Schedule 10.12 (the “Restricted Property”) the Land Use Restriction in form and substance as set forth on Attachment D hereto with respect to the Restricted Property, which Land Use Restriction shall run with the land and bind Purchaser and all future owners of the Restricted Property. Purchaser shall furnish evidence to Seller Parent of such recordation promptly after such recordation is made.