Creation of Separate Parcels and Future Phases Sample Clauses

Creation of Separate Parcels and Future Phases. Developer, by executing and recording this Declaration, does xxxxxx declare and establish the Hotel Parcel and the Condo-Hotel Parcel as separate estates in fee simple absolute. The Condo-Hotel Parcel will initially consist of the property described in Exhibit “B-1” and will be a separate Parcel. All other portions of the Building are included in the Hotel Parcel. Developer intends to create the rooms on floors 1 through 7 as condominium hotel units. Developer intends to construct a total of six (6) buildings in Phases, and incorporate each subsequent Phase to the Declaration by amendment or supplement to this Declaration. As each Phase is added the building within such Phase shall be included in the term “Building.” Developer shall have the right and power to execute and record such further documentation as Developer deems necessary, and acting without the consent or joinder of any other person, in order to maintain this Declaration as a matter of public record. Developer may assign this right and power to any subsequent Hotel Owner or any other person. Hotel Owner hereby reserves the right to add to, subtract from or otherwise modify the Hotel Parcel and the Shared Facilities.
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