Leased Lot definition
Examples of Leased Lot in a sentence
Buyer shall reimburse Seller for any prepaid expenses of the Ground Leased Lot and/or Residence such as utility deposits, insurance premiums, cable fees, assessments and capital contributions made to one or more homeowner’s or similar associations paid by Seller in advance and/or for the month in which the Closing occurs.
Also, current expenses of the Ground Leased Lot and Residence (for example: taxes, special assessments and current monthly assessments to one or more homeowner’s or similar associations) will be adjusted between Seller and Buyer as of the Closing date.
Seller shall cause (“Builder”) to furnish or cause to be furnished the material, labor, equipment, tools and supervision necessary to construct the Residence for Buyer on the Ground Leased Lot in accordance with the Contract Documents (collectively, the “Scope of Work”).
Buyer understands that Buyer is purchasing the Residence only, and has no ownership interest in the Ground Leased Lot.
Seller shall bear the risk of loss to the Ground Leased Lot and the Residence for all reasons other than Builder’s intentional misconduct until Closing.
The single-family residence to be constructed by Seller on the Ground Leased Lot and all improvements related thereto (collectively, the “Residence”).
The Parties acknowledge that the Leased Lot may not be able to meet state standards for a potable water supply or wastewater system and therefore this lot may not be able to be improved.
Notwithstanding the foregoing, Landlord agrees to restore the Leased Premises and to repair any damage to the Cabinet or the Leased Lot if such damage is caused by the negligent acts or omissions or willful misconduct of Landlord or its representatives or agents.
There shall be no other costs or additional expenses related to Tenant’s lease of the Leased Lot or use of the Leased Premises except as otherwise provided under this Lease.