Subdivided Lands definition
Examples of Subdivided Lands in a sentence
Both the Vendor and the Purchaser acknowledge and agree that the sale and purchase of the Subdivided Lands as herein contemplated is subject to and conditional upon the Subdivision of the Lands in accordance with the Subdivision Plan on or before the Closing Date, as evidenced by the registration of the Subdivision Plan in the Land Title Office (the “Mutual Condition – Subdivision”).
Provided that the transaction herein contemplated duly completes, the Purchaser will have vacant possession of the Subdivided Lands at 12:00 noon on the Closing Date, subject to the Permitted Encumbrance.
The Vendor’s obligation to complete the sale of the Subdivided Lands is subject to and conditional upon the Vendor obtaining approval of the Minster pursuant to section 50 of the University Act to the disposition of the Subdivided Lands to the Purchaser on or before the Closing Date.
The Purchaser will be responsible for any cost of conveyance, registration fees, general sales tax (including for certainty GST) and property transfer tax payable in connection with the completion of the purchase of the Subdivided Lands and related transactions under this Agreement.
The City of Chilliwack (including the Approving Officer) shall not in any manner have any liability or obligation to the Vendor arising from or as a result of any failure of the Vendor to obtain or be granted any permits, authorizations or approvals in connection with the Lands (including, for clarity, the Subdivided Lands) or construction on the Lands (including, for clarity, the Subdivided Lands).
The Vendor hereby agrees to transfer the Subdivided Lands to the Purchaser for the Purchase Price and on the terms and subject to the conditions set out in this Agreement.
The Vendor agrees to insure the Subdivided Lands until the Closing Date in the same manner as would a prudent owner, consistent with the practices of the Vendor in effect as of the date of this Agreement.
The purchase and sale of the Subdivided Lands will be completed on the Closing Date, or such other date as the parties may agree to in writing.
The Subdivided Lands will be at the risk of the Vendor until 12:01 a.m. on the Closing Date, and thereafter at the risk of the Purchaser, if the sale herein contemplated is duly completed.
The title to the Subdivided Lands will be free and clear of all encumbrances, except the Permitted Encumbrances.