Common use of Private Parcels Clause in Contracts

Private Parcels. There are several Private Parcels within and outside of the Project Site, including those shown in Exhibit A-A. The Agency’s and Developer’s obligations related to such Private Parcels are set forth in Section 3.5. Any Private Parcel acquired by Developer shall be subject to all of the terms of this DDA, except that (i) there will be no Reversionary Quitclaim Deed and the Agency shall not have any of the rights set forth in Section 16.5 with respect to such Private Parcel, (ii) the provisions of Article 10 shall not apply to such Private Parcel and (iii) except to the extent required under the CP/HPS Subdivision Code, no Adequate Security shall be required for such Private Parcel. Nothing in this DDA shall prohibit the Agency from entering into an owner participation agreement with the owner of a Private Parcel, although any such owner participation agreement shall be consistent with the Redevelopment Requirements.

Private Parcels. There are several Private Parcels within and outside of the Project Site, including those shown in Exhibit A-A. The Agency’s and Developer’s obligations related to such Private Parcels are set forth in Section 3.5. Any Private Parcel acquired by Developer shall be subject to all of the terms of this DDA, except that that (i) there will be no Reversionary Quitclaim Deed and the Agency shall not have any of the rights set forth in Section 16.5 with respect to such Private Parcel, (ii) the provisions of Article 10 shall not apply to such Private Parcel and (iii) except to the extent required under the CP/HPS Subdivision Code, no Adequate Security shall be required for such Private Parcel. Nothing in this DDA shall prohibit the Agency from entering into an owner participation agreement with the owner of a Private Parcel, although any such owner participation agreement shall be consistent with the Redevelopment Requirements.