Common use of Area Declaration and Building Site Declaration Clause in Contracts

Area Declaration and Building Site Declaration. BSD will deliver to City and Club within forty-five (45) days of the Execution Date, initial drafts of the Area Declaration and Building Site Declarations. The City and Club will provide comments to the initial drafts within ten (10) business days, and City, Club and BSD will each act reasonably in endeavoring to resolve issues and reach agreement regarding the terms of such Declarations. BSD will also obtain comments and approvals as may be required by the PUD or the Development Review Board established by the Bull Street Agreement. BSD will subsequently deliver to City and Club, within thirty (30) days of the completion of the Project Plans, and in any event at least thirty (30) days prior to the Conveyance Date, final drafts of the Area Declaration and Building Site Declarations, which shall govern the use, operation and development of the Venue (provided that as between City and Club, the Venue License Agreement will govern the daily operation of the Venue, so long as such daily operations do not violate the Area Declaration or any Building Site Declarations) and the Air Rights Parcels. The final Declarations will be subject to the approval of City and Club on or before the Conveyance Date and upon such approvals such Declaration(s) shall be recorded prior to conveyance of the Real Property to the City. The Area Declaration and Building Site Declarations shall include all necessary easements for support and access relating to the Air Rights Parcels.

Area Declaration and Building Site Declaration. BSD will deliver to City and Club within forty-five (45) days of the Execution Date, initial drafts of the Area Declaration and Building Site Declarations. The City and Club will provide comments to the initial drafts within ten twenty (1020) business days, and City, Club and BSD will each act reasonably in endeavoring to resolve issues and reach agreement regarding the terms of such Declarations. BSD will also obtain comments and approvals as may be required by the PUD or the Development Review Board established by the Bull Street Agreement. BSD will subsequently deliver to City and Club, within thirty (30) days of the completion of the Project Plans, and in any event at least thirty (30) days prior to the Conveyance Date, final drafts of the Area Declaration and Building Site Declarations, which shall govern the use, operation and development of the Venue (provided that as between City and Club, the Venue License Agreement will govern the daily operation of the Venue, so long as such daily operations do not violate the Area Declaration or any Building Site Declarations) and the Air Rights Parcels. The final Declarations will be subject to the approval of City and Club on or before the Conveyance Date and upon such approvals such Declaration(s) shall be recorded prior to conveyance of the Real Property to the City. The Area Declaration and Building Site Declarations shall include all necessary easements for support and access relating to the Air Rights Parcels.