Development Properties. Section 5.14 DGCL...........................................................
Development Properties. 18 2.22 EQR Shares of Beneficial Interest................................ 18 2.23 Investment Company Act of 1940................................... 18
Development Properties. Schedule 2.21 of the Wellsford Disclosure Letter lists all agreements entered into by Wellsford or any of the Wellsford Subsidiaries relating to the development or construction of, or additions or expansions to, any real properties which are currently in effect and under which Wellsford or any of the Wellsford Subsidiaries currently has, or expects to incur, an obligation in excess of $250,000. True and correct copies of such agreements have previously been delivered or made available to EQR.
Development Properties. 22 2.23 Investment Company Act of 1940 ................................................. 23 2.24 Trademarks, Patents and Copyrights ............................................. 23 2.25 Insurance ...................................................................... 23 2.26 Definition of Knowledge of Merry Land .......................................... 23 2.27
Development Properties. The Lessee shall continue the development and ---------------------- construction of the Development Properties in accordance with the existing plans and specifications therefor and, in connection therewith, shall be entitled as the Lessor's sole agent to request advances of the Senior Loans applicable to the Development Properties on the terms provided in the Loan Documents. The Lessee shall provide to the Lessor a plan and cost review acceptable to the Lessor in the Lessor's sole discretion for construction of the Improvements on each of the Development Properties within thirty days following the Commencement Date. If the Lessee has not delivered an acceptable plan and cost review within thirty days following the Commencement Date for any Development Property, then the Lessor shall be entitled to revoke the grant of agency provided for in this Section 11.2. In addition, the Lessee shall pay as Supplemental Rent hereunder ------------ the costs and expenses of the Lessor's consultant to monitor the progress of construction on the Development Properties. The Lessee shall be permitted to make or approve immaterial changes to the plans and specifications provided that such changes do not affect the intended use or have a material impact on the construction budget. The Lessee shall provide to the Lessor copies of all draw requests submitted pursuant to the Loan Documents and quarterly reports, which reports shall be in form and substance reasonably satisfactory to the Lessor, as to the progress of construction and advances of the Senior Loans, and in the event that the Lessor in its sole discretion finds the progress of construction or advances of the Senior Loans unsatisfactory, the Lessor shall be entitled to revoke the grant of agency provided for in this Section 11.2. The Lessor agrees ------------ to promptly execute and deliver any documents reasonably required by the Lessee in connection with the Lessee's exercise of rights under this Section 11.2. ------------
Development Properties. Schedule 2.22 to the Merry Land Disclosure Letter lists all agreements entered into by Merry Land or any of the Merry Land Subsidiaries relating to the development or construction of, or additions or expansions to, any real properties which are currently in effect. As of the date hereof, Merry Land's business plan to complete development of Xxxxxxx at Whitemarsh (Phase I) does not contemplate disbursement of funds to complete such development in addition to those provided through the loan for such development disclosed on Schedule 2.18(3) to the Merry Land Disclosure Letter.
Development Properties. Schedule 2.22 to the Merry Land Disclosure Letter lists all agreements entered into by Merry Land or any of the Merry Land Subsidiaries relating to the development or construction of, or additions or expansions to, any real properties which are currently in effect. 2.23
Development Properties. Schedule 3.11(j) contains a list of each Company Property, or property which the Company has under a letter of intent or option, which consists of or includes material amounts of underdeveloped land or which is intended to be or is in the process of being substantially redeveloped or rehabilitated (collectively, the "Development Properties") a brief description of the development or rehabilitation intended by the Company or any Subsidiary to be carried out or completed thereon (collectively, the "Projects"), including any budget and development or rehabilitation schedule therefor prepared by or for the Company or any Subsidiary (collectively, the "Development Budget and Schedule"), if the Company or a Subsidiary does not own such Development Property, a description of the Company's contract rights with respect thereto, the status of zoning approvals and building permits for such Project, the status of design and major construction contracts, and if such Project is under development, the approximate percentage of completion and any known material impediments to completion and opening for operation. In the case of each Project the development of which has commenced, the costs and expenses incurred in connection with such Project and the progress thereof are, except as set forth in Schedule 3.11(j), consistent and in compliance in all material respects with all aspects of the Development Budget and Schedule applicable thereto. The Company has made available to Buyer or to its representative all feasibility studies, soil tests, due diligence reports and other studies, tests or reports performed by or for the Company, or otherwise in the possession of the Company, and all material architectural, engineering and general construction contracts which relate to the Development Properties or the Projects. Neither the Company nor any of its Subsidiaries is in material default under any development agreement, disposition agreement, disposition and development agreement or comparable agreement affecting any of the Company Properties, and all such agreements are in full force and effect.
Development Properties. LOCATION COMMUNITY SITE NO. UNITS COMMENTS -------------------------------------------------------------------------------------------------------------------- Sedona, Arizona 853/7101 60 Zoned/May 1997 (includes 20 units for the memory impaired) -------------------------------------------------------------------------------------------------------------------- Tucson, Arizona N/A 40 Zoned/Needs Special Use Permit/September 1997 -------------------------------------------------------------------------------------------------------------------- Redding, California 167 60 Under Construction/April 1997/Subdivision Required/leased from Vencor under 99-year lease under which Atria will acquire the property upon obtaining certain approvals -------------------------------------------------------------------------------------------------------------------- Northglenn, Colorado [adjacent to 40 Zoned/October 1997 (all units for existing communities] memory impaired) -------------------------------------------------------------------------------------------------------------------- Dennis, Massachusetts 573 40 Land Acquired/June 1998 -------------------------------------------------------------------------------------------------------------------- Xxxxxxxxx, Xxxxx Xxxxxxxx Xxxxx X/X 90 Zoned/December 1997 Carolina -------------------------------------------------------------------------------------------------------------------- Sandy, Utah N/A 63 Under Construction/February 1997 -------------------------------------------------------------------------------------------------------------------- Virginia Beach, N/A 90 Land Acquired/November 1997 Virginia -------------------------------------------------------------------------------------------------------------------- Tacoma, Washington 7195 40 Zoned/September 1997 -------------------------------------------------------------------------------------------------------------------- Kenosha, Wisconsin 775-776 40 Land Acquired/December 1997 -------------------------------------------------------------------------------------------------------------------- Lantana, Florida [adjacent to 7138 60 Zoned/July 1997/adjacent to existing Meridian House] Atria communities -------------------------------------------------------------------------------------------------------------------- Topeka, Kansas [adjacent to 7165 60 Xxxxx/Xxxxxx 0000/xxxxxxxx to existing Hearthstone] Atria communities ---------------------------------------...
Development Properties. 24 2.25 INVESTMENT COMPANY ACT OF 1940.......................24 2.26 TRADEMARKS, PATENTS AND COPYRIGHTS...................24 2.27 INSURANCE............................................25 2.28 DEFINITION OF KNOWLEDGE OF THE COMPANY...............25 2.29
