Provisions Regarding Pending Development at Monarch Lakes, Miramar, Florida Sample Clauses

Provisions Regarding Pending Development at Monarch Lakes, Miramar, Florida. LPLP has obtained the permits and approvals set forth on Schedule 26 attached hereto (the “Monarch Lakes Permits and Approvals”) with respect to the construction of an approximately 104,500 square foot building and related site improvements (the “Monarch Lakes Improvements”) on an approximately 5.23 acre portion of the Florida Real Property known as 0000 X.X. 000xx Xxxxxx, Xxxxxxx, Xxxxxxx (“Monarch Lakes”). Seller represents and warrants to Buyer that Seller has not received any written notice revoking or threatening to revoke any of the Monarch Lakes Permits and Approvals. Construction of the Monarch Lakes Improvements has not yet commenced. At the time of Settlement, LPLP shall assign to Buyer all of LPLP’s right, title and interest in the Monarch Lakes Permit and Approvals. Following Settlement, Seller shall, at no cost to Seller, execute and deliver to Buyer such additional documents of assignment and transfer as may be necessary to comply with any requirements of any governmental authority having jurisdiction with respect to the assignment or transfer of the Monarch Lakes Permits and Approvals. The provisions of this Section 26 shall survive Settlement.
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