Assigned Land definition
Examples of Assigned Land in a sentence
Please refer to Appendix 2 for the Vertical Limits of the Assigned Land.
The Assignor shall take ownership of the above-ground buildings, fixtures and their auxiliary facilities on the Assigned Land and give reasonable compensation to the land user based on the residual value of these buildings, fixtures and their auxiliary when they are taken back.
Article 25 When the term agreed in the Contract expires, and the land user needs to continue using the Assigned Land under the Contract, an application for renewal shall be submitted to the Assignor no less than one year prior to the expiration of the use term.
Article 32 If the Assigned Land is left unused for at least one year but less than two years due to the Assignee’s failure to commence construction and development for any of its own reasons, the Assignee shall pay the cost of idled land in accordance with the law.
If the above-ground buildings, fixtures and their auxiliary facilities lose their normal functions, the Assignor may request the land user to remove or dismantle the above-ground buildings, fixtures and their auxiliary facilities to restore the leveled ground on the Assigned Land.
Article 38 If the Assignor fails to deliver the Assigned Land on time, or fails to deliver the Assigned Land on the conditions as agreed in the Contract, or unilaterally change the land use conditions, the Assignee shall have the right to request the Assignor to perform its obligations in accordance with the requirements agreed herein and compensate its direct loss caused by the delayed performance.
If the land is left unused for at least two years and the construction on the Assigned Land doesn’t commence, the Assignor shall have the right to take back the state-owned construction land use right without any compensation.
Article 37 After the Assignee pays the assignment price of the land use right in accordance with the Contract, the Assignor shall deliver the Assigned Land on time in accordance with the agreement of the Contract.
Please see the Sketch of Vertical Limits of the Assigned Land (Affix II).
If the possession period of the land parcel under the Contract is extended due to the Assignor’s failure to deliver the Assigned Land on time, the Assignor shall pay 1 ‰ of the assignment price which has been paid by the Assignee as damages for breach of contract for each day extended.