Allocation Status definition
Examples of Allocation Status in a sentence
When a Transfer of Development Rights is undertaken with respect to any Parcel, a Development Attributes Allocation Status Form shall be prepared, provided to the City and recorded as set forth in Section 3.9 of this Agreement.
The total Development Attributes allocated to the Combined Parcel shall not exceed the total amount of Development Attributes previously allocated to the Parcels comprising the Combined Parcel as set forth on Exhibit “C.” When a Combination is undertaken with respect to one or more Parcels, a Development Attributes Allocation Status Form shall be prepared, provided to the City and recorded as set forth in Section 3.9 of this Agreement.
When a Severance is undertaken with respect to a Parcel, a Development Attributes Allocation Status Form shall be prepared, provided to the City and recorded as set forth in Section 3.9 of this Agreement.
No development applications, building permits, or other City approvals for the affected portion of the Property will be approved until the applicable Development Attributes Allocation Status Form is recorded as provided in this subsection.
Any execution of any Development Attributes Allocation Status Form by any lienholder or beneficiary under a deed of trust or other security instrument shall not, in and of itself, affect or vitiate any separate agreement between Developer and such lienholder or beneficiary with respect to any related matters (including without limitation any separate approval or consent rights with respect to any alterations to the subject property relating hereto).
If an error is made on the Development Attributes Allocation Status Form, upon notice by Developer or the City to the other, the City and Developer shall cause a revised Development Attributes Allocation Status Form reflecting the correct allocated Development Attributes associated with each Parcel and the remaining unallocated Development Attributes contained in the Development Area Budget to be prepared by Developer, provided to the City, and to be recorded as set forth in this subsection.