Common use of Duration; Expiration Clause in Contracts

Duration; Expiration. The initial term for this AGREEMENT shall be in effect for two (2) years from the date of execution by the PARTIES. LANDOWNER shall submit a complete application for site development permit within twelve (12) months of the EFFECTIVE DATE of this AGREEMENT, with no gap exceeding twelve (12) months between development permits in a series of permits. All permit expiration time periods of the UDC shall apply. Any permitted development provided for by this AGREEMENT must commence within two (2) years from the EFFECTIVE DATE of this AGREEMENT, and be completed within established expirations and dormancy restrictions for all applicable permits. Failure to complete the project within the time period provided in this paragraph waives all rights granted to the LANDOWNER, but does not affect LANDOWNER obligations hereunder, which remain in effect until completed in due course or 45 years, whichever is later. Otherwise all terms agreed in writing, all covenants, promises, agreements, provisions, terms, restrictions, and prohibitions in effect during the initial term shall remain in full force and effect during the current and any successive term. LANDOWNER’s obligations to comply with the terms of this agreement survive annexation until the uses and development shown as Existing Uses are complete and survive to bind LANDOWNER’s successors, heirs or assigns as to all terms, including the irrevocable agreement for voluntary annexation of the PROPERTY with this AGREEMENT serving as a petition for voluntary annexation.

Duration; Expiration. The initial term for this AGREEMENT shall be in effect for two (2) years from the date of execution by the PARTIES. LANDOWNER The extended term for this AGREEMENT shall submit a complete application be for site development permit within twelve an additional eight (12) months of the EFFECTIVE DATE of this AGREEMENT8) years, with no gap exceeding twelve (12) months between development permits in a series of permits. All permit expiration time periods of the UDC shall apply. Any so long as any permitted development provided for by this AGREEMENT is underway. All permitted development on the PROPERTY provided for in this AGREEMENT must commence be completed within two (2) 10 years from the EFFECTIVE DATE effective date of this AGREEMENT, and be completed within established expirations and dormancy restrictions for all applicable permits. Failure to complete the project within the time period provided in this paragraph above waives all rights granted to the LANDOWNER, but does not affect LANDOWNER obligations hereunder, which remain in effect until completed in due course or 45 years, whichever is later. Otherwise all terms agreed in writing, all covenants, promises, agreements, provisions, terms, restrictions, and prohibitions in effect during the initial term shall remain in full force and effect during the current and any successive term. LANDOWNER’s obligations to comply with the terms of this agreement AGREEMENT survive annexation until the uses and development shown as Existing Uses on-site improvements provided by this agreement are complete and survive to bind LANDOWNER’s successors, heirs or assigns as to all terms, including the irrevocable agreement for voluntary annexation of the PROPERTY with this AGREEMENT serving as a petition for voluntary annexation.