Common use of Development Approval Clause in Contracts

Development Approval. During the term of this Agreement, at Buyer’s cost and expense, Buyer shall have the right to pursue any new entitlements and all Authority approvals and Permits necessary for Buyer’s development of the Project, including, without limitation, all subdivision mapping approvals, land use and zoning approvals, architectural approvals, including, but not limited to, building plans, renderings, specifications, drawings, elevations, and prototypes, and any other approvals and permits required to permit Buyer to immediately commence construction of its intended development of Buyer’s proposed Project and for the issuance of certificates of occupancy for such residences or buildings upon their completion in the ordinary course (collectively, the “Development Approvals”), all as Buyer may deem necessary for its Project. Furthermore, Buyer shall prepare and process the remaining Final Maps using commercially reasonable efforts in order to meet the proposed Closing Dates set forth in this Agreement. Seller agrees to fully cooperate with Buyer in connection with its Development Approvals and the Final Maps, and shall execute, upon request of Buyer any and all maps, documents and agreements which are reasonably necessary to accomplish such purposes, including appointment of Buyer as agent of Seller for purposes of Buyer’s development of the Property, provided that Seller incurs no material cost or liability as a result of such cooperation and provided that the document appointing Buyer as Seller’s agent expressly prohibits Buyer from binding the Property or recording any documents relating to the Property without the prior written consent of Seller, which consent shall not be unreasonably withheld. In the event that the City requires that Seller, as the owner of the Property, execute any development applications or subdivision improvement agreements with the City, Seller shall execute and return such development applications and agreements to Buyer within five (5) calendar days after the date on which such items are delivered to Seller. 4.4.1 Except as otherwise set forth in the Agreement, Buyer shall have the right to prepare any site plans for the Property, including all engineering and landscaping plans and drawings, the architectural materials, utility plans for the Project, and all applications and submittals necessary to obtain its Development Approvals as it may deem necessary during the Due Diligence Period. At no out-of-pocket cost to Seller, Seller shall, for no additional consideration or payment, upon request by Buyer (i) execute and promptly deliver to such appropriate Authorities such applications, submittals, documents, instruments and other items reasonably requested by Buyer in connection with the Development Approval process for the Property; (ii) as reasonably requested by Buyer, appear at any public hearings or other, meetings for or with Authorities or neighborhood meetings in connection with, and support of the Development Approvals for the Property; and (iii) otherwise cooperate as reasonably requested by Buyer in connection with Buyer’s obtaining the Development Approvals of the Property. Except as set forth in Section 4.6 below, nothing herein contained shall be deemed to grant Seller and Seller hereby confirms that Seller has no right, and it hereby waives any right, to object to the Development Approval matters relating to the Property.

Development Approval. During If Buyer elects to proceed with this transaction pursuant to the term terms of this Agreement, at Buyer’s cost and expenseParagraph 4.00 hereof, Buyer shall have will promptly thereafter initiate the right to pursue any new entitlements planning, design, approval and all Authority approvals and Permits necessary permitting process for Buyer’s the development of the ProjectProperty and the construction of the Intended Improvements and will thereafter diligently and continuously pursue obtaining the Development Approvals in a time sequence deemed reasonable by Buyer in its discretion. Such approvals and permits are hereinafter collectively the "Development Approvals", including, without limitation, all subdivision mapping approvals, land use and zoning approvals, architectural approvals, includingwill include, but not be limited to: a. Site Plan Approval. b. Plat approval and recordation of any amendments necessary to permit the constructions and development of the Intended Improvements on the Property: c. All approvals relative to concurrency issues; and d. All building, building plans, renderings, specifications, drawings, elevations, engineering and prototypes, and any other approvals and utility permits required to permit Buyer to immediately commence for the development and construction of its intended development of Buyer’s proposed Project and for the issuance of certificates of occupancy for such residences or buildings upon their completion in Intended Improvements; and e. All necessary approvals from the ordinary course appropriate governmental authorities (collectively, the “Development Approvals”), all as including reasonable variances which Buyer may deem necessary for its Project. Furthermore, Buyer shall prepare and process the remaining Final Maps using commercially reasonable efforts deems necessary) in order to meet permit the proposed Closing Dates set forth in this Agreementcommencement of development and construction of the Intended Improvements. Seller agrees to fully cooperate with Buyer in connection with its obtaining the Development Approvals Approvals, provided Seller shall not thereby be required to incur any costs. Seller's cooperation shall include, but not be limited to the execution of consents, applications, petitions and the Final Mapsagreement as may be required by applicable governmental authorities or entities ("Development Applications") and attendance by Seller at meetings, proceedings or hearings (if required). If Seller fails or refuses to execute and shall execute, upon request of deliver to Buyer any and all maps, documents and agreements which are reasonably necessary to accomplish such purposes, including appointment of Buyer as agent of Seller for purposes of Buyer’s development of the Property, provided that Seller incurs no material cost or liability as a result of such cooperation and provided that the document appointing Buyer as Seller’s agent expressly prohibits Buyer from binding the Property or recording any documents relating to the Property without the prior written consent of Seller, which consent shall not be unreasonably withheld. In the event that the City requires that Seller, as the owner of the Property, execute any development applications or subdivision improvement agreements with the City, Seller shall execute and return such development applications and agreements to Buyer Development Applications within five (5) calendar business days after the date on which such items are delivered to Seller. 4.4.1 Except as otherwise set forth in the Agreement, Buyer shall have the right to prepare any site plans for the Property, including all engineering and landscaping plans and drawings, the architectural materials, utility plans for the Project, and all applications and submittals necessary to obtain its Development Approvals as it may deem necessary during the Due Diligence Period. At no out-of-pocket cost of Buyer's delivery of same to Seller, the time periods for Buyer's performance hereunder and the closing date shall be extended for the number of days Buyer has been delayed in the approval and permitting process attributable to Seller's failure to deliver to Buyer the requested Development Applications, provided, however, if Seller shall, fails or refuses to execute any Development Applications for no additional consideration or payment, upon request a period in excess of ten (10) business days after delivery of same by Buyer to Seller, Buyer may elect (i) execute to extend the time for obtaining Development Approvals and promptly the closing date for the number of days Buyer has been delayed in the approval and permitting process attributable to seller's failure to deliver to such appropriate Authorities such applicationsBuyer the requested Development Applications, submittals, documents, instruments and other items reasonably requested by Buyer in connection with the Development Approval process for the Property; or (ii) as reasonably requested by Buyer, appear at any public hearings or other, meetings for or with Authorities or neighborhood meetings Buyer may deem the Seller in connection with, and support default of the Development Approvals for the Property; and (iii) otherwise cooperate as reasonably requested by Buyer in connection with Buyer’s obtaining the Development Approvals of the Property. Except as set forth in Section 4.6 below, nothing herein contained shall be deemed to grant Seller and Seller hereby confirms that Seller has no right, and it hereby waives any right, to object to the Development Approval matters relating to the Propertythis Agreement.