Common use of Land Transfer Clause in Contracts

Land Transfer. The Landowners shall convey fee simple ownership of Lot 2, as depicted on Exhibit B, to the City as provided in Paragraph 7. In exchange, the City shall allocate parking spaces in the proposed parking garage to Landowners as provided in Paragraphs 4 and 5.

Land Transfer. The Landowners shall convey fee simple ownership of Lot 2, as depicted on Exhibit B, to the City as provided in Paragraph 7. In exchange, the City shall allocate parking spaces in the proposed parking garage to Landowners as provided in Paragraphs 4 and 5. , which will satisfy parking requirements for development of their remaining respective parcels.