Land Purchase. Approximate area of land to be purchased or easement(s) to be acquired. {Add applicable detail } Deliverables: • Documentation supporting property value (if purchased) • All relevant documentation regarding property ownership transfer or acquisition of easement including final recorded deed, title report, etc. Budget Category (c): Planning/Design/Engineering/Environmental Documentation Instruction: If not applicable, it should say “Not applicable”
Land Purchase. AMA will loan to Netwest eighty-five (85%) percent of the acquisition cost of the Property which loan will be evidenced by a Promissory Note (the "Note") payable to the order of AMA with an interest rate equal to the prime rate announced by Fleet Bank, N.A. from time to time and a repayment obligation upon the earlier of: (i) the expiration of the Joint Venture Period, or (ii) nine (9) months from the execution date of the Note or such other date as mutually agreed upon by the parties in writing (the "Maturity Date"). The Note will be secured by a Deed of Trust, in form and substance satisfactory to AMA in its reasonable discretion, and joint and several personal guarantees from the principals of Netwest, which guarantees shall be satisfactory to AMA in its sole discretion. Upon obtaining all necessary permits and approvals to develop the Project (including the expiration of all applicable appeal periods), Netwest will transfer the Property to the Joint Venture in accordance with the terms thereof All costs of such transfer shall be borne by the Joint Venture. The parties shall use their best efforts to structure such transfer in the least costly manner to the Joint Venture. Notwithstanding the foregoing, in the event the Developers fail to obtain all such necessary permits and approvals to develop the Project prior to the Maturity Date, AMA shall have the right to terminate the Joint Venture Agreement upon ten (10) days notice to Netwest.
Land Purchase. (a) The Parties agree that California American Water’s purchase of the 46- acre parcel on Xxxxxxx Xxxxxx Road for the desalination plant is reasonable. (CA-21, Xxxxxxxxx Rebuttal, p. 9; PW-1, Direct Testimony of Xxxxxx X. Xxxxx for Citizens For Public Water, dated February 21, 2013, pp. 7-8.)
Land Purchase. If by December 31, 2027 the Developer has not acquired the right under this Agreement to complete all of the Two-over-Two residential units otherwise authorized because of a failure of any condition precedent to that right, the City may thereafter acquire those portions of Xxx 0, Xxx 0, and/or or the City Hall Residential Tract (if previously acquired by the Developer) that have not yet been developed (the “Undeveloped Phase 2 Property”). The Developer may offer the Undeveloped Phase 2 Property on the open market but will provide the City a recordable Right of First Offer, in a form approved by the City Attorney. Under the Right of First Offer, the City will have the right to acquire the Undeveloped Phase 2 Property at the its fair market value, as determined by an independent appraisal conducted by an MAI appraiser acceptable to both the City and the Developer. This Right of First Offer will expire December 31, 2030.
Land Purchase. On the Land Closing Date and subject to the terms and conditions of this Agreement (a) the Holders will each make a Holder Advance in accordance with Sections 2 and 5 of this Agreement and the terms and provisions of the Trust Agreement, (b) the Lenders will each make Loans in accordance with Sections 1 and 5 of this Agreement and the terms and provisions of the Credit Agreement, and (c) the Lessor will purchase and acquire good and marketable title to the Land or portion thereof, identified by the Construction Agent, in each case pursuant to a Deed and/or Bill xx Sale, as the case may be, and grant the Agent a lien on the Property (including the Land) or such portion thereof by execution of the required Security Documents.
Land Purchase. On the Closing Date, concurrently with the Closing hereunder, New Partnership shall have acquired fee title to the Land pursuant to the Land Option Agreement.
Land Purchase. 1. The City agrees to purchase a ten-acre parcel from Developer as shown on the Site Plan. The land shall be purchased at a per acre price of $60,000 for a total acquisition cost of $600,000. The land purchase shall occur on or before June 30, 2017. Developer shall be responsible for the prorated property taxes for the property up to and including the date of sale as is standard in Xxxxx County. Developer shall provide City with a Warranty Deed and abstract of title for the property.
Land Purchase. Duly-platted lots and blocks of the subject parcel will be conveyed from the City as seller to the Developer as purchaser in phases commensurate with marketing and development considerations. The purchase price shall be $1.41 per square foot of land conveyed. If Developer sells any portion of the subject parcel to an unrelated end user, Developer and City shall share in the proceeds of such sale as follows: After all property transaction costs have been determined, the remaining net sales proceeds from the Developer to the end user shall be divided, with 80 percent payable to the Developer and 20 percent remitted to the City. The City shall have no responsibility for the property conveyance from the Developer to the end user. The Developer and City shall mutually agree on the scope and extent of documentation necessary to satisfy the division of the net sales proceeds.
Land Purchase. Approximate area of land to be purchased or easement(s) to be acquired. {Add applicable detail} Deliverables:
Land Purchase
