Property acquisition under the Flood Act Sample Clauses

Property acquisition under the Flood Act. In accordance with the provisions of the Flood Act, the expropriation of a real property or a part thereof, as well as a permanent and temporary restriction on the use of a real property or a part of a real property, shall be effected by way of an investment permit issued by the province governor at the request of the investor. The Investment Project Implementation Permit (IPIP) decision approves the division of properties, and the land demarcation lines established by the Investment Project Implementation Permit decision are the real property division lines. In addition, such a decision constitutes the basis for making entries in the land and mortgage register and the land and mortgage register. The province governor notifies the applicant, i.e. the Investor, the owners and perpetual usufructuaries of the properties, as well as the other parties, of the initiation of the procedure for issuing the investment permit. The province governor issues the IPIP within 90 days from the date of submitting the application, however, this period does not include the time limits provided for in the laws for the performance of specific actions, the periods of suspension of proceedings and the delays caused by fault of the Applicant or by reasons not attributable to the body. The owner or perpetual usufructuary of real property is entitled to compensation for transferring ownership of real property to the State Treasury or a local government entity. Compensation may be cash or “land for land.” The Act does not indicate any preference for the land-for- land compensation, but rather assumes monetary compensation, the amount obtained should allow for purchasing a similar real property. The amount of compensation should be agreed between the investor and the current owner, holder of perpetual usufruct right or person entitled to limited property right to the real property. It is determined separately for each of the expropriated properties through negotiations between the Investor and the entity indicated above. The negotiations are based on the independent and objective valuation prepared by the appraiser. The amount of compensation is determined in relation to the real property in the condition as of the date of issuing the IPIP by the body of first instance and in relation to the value of this real property as of the date on which the amount of compensation is determined. If the Investor and the expropriated person reach an agreement on the amount of compensation, a writte...
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Related to Property acquisition under the Flood Act

  • Property Acquisitions System Agency funds must not be used to purchase buildings or real property. Any costs related to the initial acquisition of the buildings or real property are not allowable.

  • Real estate transactions You must sign the certification. You may cross out item 2 of the certification.

  • ENCROACHMENT/ACQUISITION The Assignee/Bank has no notice or knowledge of any encroachment or that the Government or any other authority has any immediate intention of acquiring the whole or any part of the Property for roads or any other improvement schemes and if such encroachment shall be found to exist or if the Government or any local authority has any such intention, the same shall not annul the sale or shall any abatement or compensation be allowed in respect thereof.

  • Notice to Proceed - Land Acquisition The acquisition of the Land shall not occur until the Director has issued a written Notice to Proceed for land acquisition to the Recipient (the "Notice to Proceed"). Such Notice to Proceed will not be issued until the Director has received a Request to Proceed acceptable to the Director and is assured that the Recipient has complied with all requirements for the approval of a grant under Revised Code Sections 164.20 through 164.27 and any requirements for land acquisition set forth in this Agreement, including without limitation the OPWC's approval of the proposed Deed Restrictions and Title Agent. The Notice to Proceed also shall specify the time frame for the Closing.

  • OVERSEAS TRANSACTIONS 13.1 The Cardmember may use the Credit Card outside Malaysia where there are Authorised Merchants and/or Authorised Cash Outlets.

  • Land Acquisition and Involuntary Resettlement 3. The Borrower shall ensure or cause the Project Executing Agency to ensure that all land and all rights-of-way required for the Project are made available to the Works contractor in accordance with the schedule agreed under the related Works contract and all land acquisition and resettlement activities are implemented in compliance with (a) all applicable laws and regulations of the Borrower relating to land acquisition and involuntary resettlement; (b) the Involuntary Resettlement Safeguards; and (c) all measures and requirements set forth in the RP, and any corrective or preventative actions set forth in the Safeguards Monitoring Report.

  • Land Acquisition Disbursement To initiate the purchase of the Land, the Recipient must first complete and submit a written Request to Proceed to the Director prior to Closing. The Request to Proceed must name the proposed Title Agent and must indicate the amount of Funds requested from the OPWC for the land acquisition, including expected settlement costs, based upon the participation ratio and the amount of funds expected from any Matching Funds. The Request to Proceed must contain as attachments: (a) a copy of the proposed Deed Restrictions; (b) a copy of the executed purchase agreement with respect to, or such other agreement to convey an interest in, the Land between the Recipient and the Land owner; (c) a copy of the performed appraisal according to the specifications provided by the Director; (d) evidence satisfactory to the Director that Recipient will acquire marketable title to the Land at Closing; and (d) if the Recipient desires to elect the pre-closing option described below (i) a copy of the signed escrow agreement among Recipient, Title Agent and the OPWC, executed by Recipient and Title Agent, substantially in the form of Appendix F of this Agreement (the "Escrow Agreement") and (ii) if the Title Agent is an agent for a title insurance company, rather than a title company itself, a closing protection letter issued by the title insurance company to the OPWC. Funds for land acquisition shall be disbursed to the Recipient, as part of a grant to the Recipient pursuant to Revised Code Sections 164.20 through 164.27, pursuant to the pre-closing option and/or the reimbursement option, as described in subsections 5(a) and 5(b), respectively.

  • Information Acquisition Connecting Transmission Owner and Developer shall each submit specific information regarding the electrical characteristics of their respective facilities to the other, and to NYISO, as described below and in accordance with Applicable Reliability Standards.

  • Mobile Banking Transactions At the present time, you may use Mobile Banking to: • Transfer funds between your savings, checking, and Club accounts. • Make loan payments from your savings, checking, and Club accounts. • Obtain account balance and transaction history on your savings, checking, and Club accounts. • Obtain information on your loan account balance, transaction history, payment due dates, loan payoff amounts and finance charges. • Make xxxx payments from your savings or checking account using the Mobile Xxxx Xxxxx service . When you register for Mobile Banking, designated accounts and payees (or billers) linked to your account through Online Banking will be accessible through the Mobile Banking service.

  • Collective Investment Vehicle An Investment Entity established in Finland that is regulated as a collective investment vehicle, provided that all of the interests in the collective investment vehicle (including debt interests in excess of $50,000) are held by or through one or more exempt beneficial owners, Active NFFEs described in subparagraph B(4) of section VI of Annex I, U.S. Persons that are not Specified U.S. Persons, or Financial Institutions that are not Nonparticipating Financial Institutions.

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