restricted land definition
Examples of restricted land in a sentence
Additionally, the Developer shall make available to the Town or its nominee, as part of the Restricted Land, a certain parcel of approximately 21 acres, shown on Exhibit B, which may be used for other municipal uses if the Board of Selectmen so elect; provided, however, that such land shall not be used for municipal uses other than active or passive recreation or cemetery use unless specifically approved by a 2/3 vote of Town Meeting.
However, from and after the issuance of a Certificate of Occupancy with respect to any Buildable Area within the Site, such Buildable Area and any Restricted Land made subject to a Restricted Land Covenant in connection with such Buildable Area, shall not be subject to, and shall be released from, any further liability under this Agreement.
The North Parcel (as shown on Exhibit A) shall be made subject to a Restricted Land Covenant that will control development and protect the North Parcel as open space Restricted Land to be left in substantially its natural state, restored or landscaped so as to protect the North Parcel’s view characteristics.
In consideration of the foregoing, ▇▇▇▇▇▇ ▇▇▇ stands ready to purchase from the Designated Lender qualifying loans made to Eligible Borrowers secured by a Mortgage or Deed of Trust on Trust Land or Restricted Land or a leasehold interest thereon, to the extent permitted by applicable law.
The Developer shall make available to the Town or its nominee, as part of the Restricted Land, a certain parcel of approximately 19 acres, shown on Exhibit B, which may be used as two (2) athletic playing fields, together with parking and other accessory uses related thereto (the “Athletic Fields Parcel”).