Area of Property Clause Samples
The "Area of Property" clause defines the precise size or boundaries of the property involved in a transaction or agreement. Typically, it specifies the total square footage or acreage, and may reference official surveys, legal descriptions, or maps to clarify the exact area covered. This clause ensures both parties have a clear, mutual understanding of what is being bought, sold, or leased, thereby preventing disputes over property size and helping to allocate risk if discrepancies arise.
Area of Property. The area of the Property is not more than 40 acres.
Area of Property. The parties acknowledge that all measurements and areas of the Property remain subject to final survey and any alterations that may be required by the Council and other relevant authorities. The vendor warrants that the area of the Property being sold recorded on the front page of this agreement will not alter on final approval as to survey by LINZ by plus or minus 5%. If following final approval as to survey, the area of the Property differs by plus or minus 5% then this agreement will be voidable at the option of the purchaser upon the purchaser giving written notice of cancellation to the vendor. Upon receipt of that notice by the vendor this agreement will be at an end, and any money paid under it must be refunded, without deduction or set off, and neither party shall have any claim against the other.
Area of Property. 56.9 acres; pursuant to Section 8.9 of this Amended and Restated Conditional Development Permit, the Applicant shall diligently pursue incorporation of the Caltrans remainder parcel consisting of 0.45 acres as part of the Project site for a total of 57.35 acres.