Common use of PARCELIZATION Clause in Contracts

PARCELIZATION. The Owner reserves the right to create new legal parcels under the Parcel Map Act or similar statutes and to them own or sell the newly created parcel or parcels. This right shall apply to those portions excluded from the premises under paragraph 2 as well as other non-arable land otherwise included as part of the Premises. Such land may include native pasture or other sites suitable for the construction of a residence. Owner shall give written notice to the Tenant of an intention to create a new legal parcel and to remove said parcel from the terms of this Lease. Tenant’s written consent shall be required only as those sites not otherwise excluded as a part of the Premises. Tenant shall not be unreasonably withheld or delayed. All costs of creating the new legal parcel shall be the Owner’s. Tenant shall cooperate with Owner and shall execute such documents as are necessary for this purpose.