Commercial Parcels Sample Clauses

Commercial Parcels. A. It is the intent of the Members that, from time to time, upon the completion of the development of parcels pursuant to the Development Business Plan that have been entitled for the development of retail improvements or for rent multi-family improvements, (1) such parcels that will contain forty percent (40%) of the gross square footage of all of the improvements to be constructed on parcels of the Master Project which have been entitled for the development of retail improvements (the “Retail Parcels”) and (2) such parcels that will contain one hundred percent (100%) of the gross square footage of all of the improvements to be constructed on parcels of the Master Project which have been entitled for the development of for rent multi-family improvements (the “Multi-Family Parcels”) are to be offered for sale to the “Commercial Developers” (as defined below) as commercial builders, without initially offering such Retail Parcels and Multi-Family Parcels for sale on the open market (the “Private Sale Commercial Parcels”), in accordance with the terms of this Section 10.4. The remainder of the Retail Parcels (i.e., parcels upon which sixty percent (60%) of the gross square footage of all of the improvements to be constructed on Retail Parcels are to be constructed) (the “Open Market Retail Parcels”) are to be sold in the open market to commercial builders (which may include one (1) or more of the Members and/or their Affiliates). All of the Retail Parcels, with the sole exception of the Open Market Retail Parcels, shall be referred to herein as the “
Sample 1
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Commercial Parcels. The City has granted Xxxxxxxxx’s petition for land assembly assistance for three (3) parcels of land which are more particularly described in Exhibit “A” to this Agreement. The city’s assistance is provided for in two (2) stages: 1) an initial effort involving Developer and City participation in public/private redevelopment agreements with the owners of the Commercial Parcels providing for the redevelopment/revitalization of the Commercial Parcels in a manner and form which is consistent with the City’s redevelopment/revitalization objectives; and 2) in the event that voluntary agreements with the owners of the Commercial Parcels are not possible and the existing improvements and uses continue to have a negative, blighting effect on the planned and redevelopment/revitalization of the Candidate Redevelopment/Revitalization Area, the City may be requested to assemble such parcels using eminent domain powers and convey such parcels to Developer.
Sample 1
Commercial Parcels. Concurrent with the recording of any final plat for any commercial Development Phase of a commercial Zoning Parcel, the Applicant shall prepare and record such form of reciprocal operating, construction and easement agreement as may be appropriate to facilitate the specific plan of development for the commercial Development Phase (“Commercial Declaration”), which covenants shall have previously been submitted and approved by the City (which approval shall not be unreasonably withheld), and which shall provide for the creation of and mandatory membership in a Commercial Zoning Parcel Owners Association by all owners of any portion of the commercial Development Phase and covenants similar to those contained in the Residential Declaration with respect to such improvements and common areas located within the commercial Development Phase. The Commercial Declaration shall provide for the same enforcement and performance rights and authorities of the City with respect to the Commercial Declaration as set forth in Paragraph A of this Article XVI for the Residential Declaration, provided any levy made to recover costs and expenses incurred by the City in performing or causing the performance of the Commercial Declaration shall be made under an SSA, the creation of which is hereby consented to by Owner, and any Subsequent Owner hereunder. The Commercial Declaration shall provide for not more than one Owners Association per Zoning Parcel, except that a Master Association shall be permitted with respect to any one more Zoning Parcels in addition to the specific Zoning Parcel Owners Association.
Sample 1

Related to Commercial Parcels

  • Real Estate All real property at any time owned or leased (as lessee or sublessee) by the Borrower or any of its Subsidiaries.

  • Tax Parcels Each Mortgaged Property constitutes one or more complete separate tax lots or is subject to an endorsement under the related Title Policy insuring same, or in certain instances an application has been made to the applicable governing authority for creation of separate tax lots, which shall be effective for the next tax year.

  • Entry on Mortgaged Property Enter the Mortgaged Property and take exclusive possession thereof and of all books, records and accounts relating thereto or located thereon. If Mortgagor remains in possession of the Mortgaged Property following the occurrence and during the continuance of an Event of Default and without Mortgagee’s prior written consent, Mortgagee may invoke any legal remedies to dispossess Mortgagor.

  • Location and Type of Mortgaged Property The Mortgaged Property is a fee simple property located in the state identified in the Mortgage Loan Schedule and consists of a single parcel of real property with a detached single family residence erected thereon, or a two- to four-family dwelling, or an individual residential condominium unit in a condominium project, or an individual unit in a planned unit development and that no residence or dwelling is a mobile home, provided, however, that any condominium unit or planned unit development shall not fall within any of the "Ineligible Projects" of part VIII, Section 102 of the Fannie Mae Selling Guide and shall conform with the Underwriting Guidelxxxx. Ix xhe case of any Mortgaged Properties that are manufactured homes (a "Manufactured Home Mortgage Loans"), (i) the related manufactured dwelling is permanently affixed to the land, (ii) the related manufactured dwelling and the related land are subject to a Mortgage properly filed in the appropriate public recording office and naming Seller as mortgagee, (iii) the applicable laws of the jurisdiction in which the related Mortgaged Property is located will deem the manufactured dwelling located on such Mortgaged Property to be a part of the real property on which such dwelling is located, and (iv) such Manufactured Home Mortgage Loan is (x) a qualified mortgage under Section 860G(a)(3) of the Internal Revenue Code of 1986, as amended and (y) secured by manufactured housing treated as a single family residence under Section 25(e)(10) of the Code. As of the date of origination, no portion of the Mortgaged Property was used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes;

  • Owned Properties The Company does not own any real property.

  • Mortgaged Properties No Loan Party that is an owner of Mortgaged Property shall take any action that is reasonably likely to be the basis for termination, revocation or denial of any insurance coverage required to be maintained under such Loan Party’s respective Mortgage or that could be the basis for a defense to any claim under any Insurance Policy maintained in respect of the Premises, and each Loan Party shall otherwise comply in all material respects with all Insurance Requirements in respect of the Premises; provided, however, that each Loan Party may, at its own expense and after written notice to the Administrative Agent, (i) contest the applicability or enforceability of any such Insurance Requirements by appropriate legal proceedings, the prosecution of which does not constitute a basis for cancellation or revocation of any insurance coverage required under this Section 5.04 or (ii) cause the Insurance Policy containing any such Insurance Requirement to be replaced by a new policy complying with the provisions of this Section 5.04.

  • Land The real property described in Exhibit A attached hereto and made a part hereof (the “Land”);

  • Condominiums If the Mortgaged Property is a condominium unit or a planned unit development (other than a de minimis planned unit development), or stock in a cooperative housing corporation, such condominium, cooperative or planned unit development project meets the eligibility requirements of Fxxxxx Mxx and Fxxxxxx Mac.

  • Project 3.01. The Recipient declares its commitment to the objectives of the Project. To this end, the Recipient shall carry out the Project in accordance with the provisions of Article IV of the General Conditions.

  • Mortgaged Property The real property securing repayment of the debt evidenced by a Mortgage Note.

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