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. 3.1 Owner/Developer shall include the following deed restriction in each and every deed of original conveyance of an ADO Lot or Unit, and each deed of conveyance thereafter shall include the same:
Deed Restriction. A. Prior to issuance of a Notice of Completion by the Office for a site which relies upon one or more institutional and/or engineering controls, the Office may require the Enrollee to submit a Deed Restriction to the Office for approval pursuant to NYC Ad Code § 24-903(i) and RCNY § 43-1407(l)(2)(A). If required, the submittal shall be substantially similar to Exhibit “C.” Enrollee shall cause such instrument to be recorded with the recording officer for the county in which the Project is located. Enrollee shall provide the Office with a copy of such instrument certified by the recording officer to be a true and faithful copy prior to the Office’s issuance of a Notice of Completion.
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. To the maximum extent feasible, the Grantee shall cause to be recorded on the title of any real property acquired and/or developed with funds from the Measure, a deed restriction requiring compliance with the Measure A and the Grant Agreement, in perpetuity.
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 20 years, and shall stand independent of this Agreement. The Deed Restriction shall only affect the 11 HOME units and shall stand in addition to any restriction imposed by this Agreement.
Deed Restriction. “Deed Restriction” means the deed restriction that may be attached and which limits uses of Subproject real property. Deed Restrictions only apply if they are attached to this Grant.
Deed Restriction. Prior to Closing, Seller shall record a deed restriction to prohibit the use of the property for a charter school. Purchaser agrees to abide by this restriction.
Deed Restriction. Purchaser agrees to the Deed Restriction placed on the Property, which limits development of water on the Property and shall read as follows:
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.
