Deed Restriction. If construction has not begun on a lot within 12 months of the date of the recorded deed from Developers, the owner of record, at Developers request, agrees to deed the property back to the developer for 90% of the original sales price. (i.e. paid $60,000 on 7/14, receive $54,000 on 7/15.) The current owner will not be reimbursed for taxes, closing costs or interest from the time the lot was purchased from the Developers. Developer will pay deed preparation, recording fees and transfer stamps.
Deed Restriction. 3.1 Owner/Developer shall include the following deed restriction in each and every deed of original conveyance of an ADO Lot or Unit, and each deed of conveyance thereafter shall include the same:
A. Overnight accommodations are strictly prohibited in ADO districts. The County reserves its full civil and criminal remedies when enforcing violations of this section pursuant to Section 4.9.8.
B. Alternative dwelling developments shall be rented for terms of at least 60 consecutive days by tenants or their employer.
Deed Restriction. Purchaser acknowledges and agrees that the Project is a deed- restricted housing project that is a partnership with the Town. The Unit will be subject to a deed restriction in the form attached hereto as Exhibit C (the “Deed Restriction”) limiting its occupancy and ownership in accordance with the terms thereof. Purchaser represents and warrants to Seller that Purchaser has reviewed the Deed Restriction and is qualified to purchase and own the Unit under the terms thereof. Purchaser is required to execute and deliver to Seller at Closing an affidavit affirming to the Town that Purchaser meets the requirements to purchase and own the Unit; if Purchaser does not meet such requirements, Seller is required, and has the right, to terminate this Agreement. If the Seller determines that Purchaser met the requirements of the Deed Restriction at the time this Agreement was executed but no longer meets the terms of the Deed Restriction at Closing through no fault of their own, the Xxxxxxx Money will be returned to to Purchaser; otherwise, the Xxxxxxx Money will be retained by Seller as its sole and exclusive remedy hereunder.
Deed Restriction. Buyer acknowledges and agrees that the Property shall be conveyed subject to a deed restriction that provides the owner of the Property shall not operate, sell, lease or allow the operation, sale or lease of the Property as or for a Banking Use for a period of six (6) months from the recording of the deed (the “Use Restriction”). For purposes of the Use Restriction, a Banking Use shall mean a state and/or national bank, national savings bank, national branch banking facility, federally insured credit union, automated teller machine associated with the foregoing (“ATM”), and/or federally chartered savings and loan institution. The Use Restriction shall run with and bind title to the Property for such six (6) month period and Buyer shall incorporate the Use Restriction by reference in any conveyance or leasehold estate of all or any portion of the Property.
Deed Restriction. A. Prior to issuance of a Notice of Completion by the Office for a site which relies upon one or more institutional and/or engineering controls, the Office may require the Enrollee to submit a Deed Restriction to the Office for approval pursuant to NYC Ad Code § 24-903(i) and RCNY § 43-1407(l)(2)(A). If required, the submittal shall be substantially similar to Exhibit “C.” Enrollee shall cause such instrument to be recorded with the recording officer for the county in which the Project is located. Enrollee shall provide the Office with a copy of such instrument certified by the recording officer to be a true and faithful copy prior to the Office’s issuance of a Notice of Completion.
B. Enrollee or the owner of the project site may petition the Office to modify or extinguish the Deed Restriction filed pursuant to this Agreement at such time as it can certify that the Project is protective of human health and the environment without reliance upon the restrictions set forth in such instrument. Such certification shall be made by a qualified environmental professional approved by the Office. The Office will not unreasonably withhold its consent.
Deed Restriction. To the maximum extent feasible, the Grantee shall cause to be recorded on the title of any real property acquired and/or developed with funds from the Measure, a deed restriction requiring compliance with the Measure A and the Grant Agreement, in perpetuity.
Deed Restriction. “Deed Restriction” means the deed restriction that limits uses of the real property. Deed Restrictions only apply if they are attached to this Grant.
Deed Restriction. In compliance with the requirements of the HOME Program which is providing a portion of the funding for this project, a Deed Restriction shall be recorded against the property comprising the Project. Said Deed Restriction shall restrict the rent and occupancy of units in accordance with the requirements of the HOME Investment Partnership Act. The term of said Deed Restriction shall be 10 years, and shall stand independent of this Agreement. The Deed Restriction shall only affect the 10 HOME units and shall stand in addition to any restriction imposed by this Agreement.
Deed Restriction. The Affordability Requirements shall be secured by a deed restriction and a Declaration of Restrictive Covenants (“Declaration”) on each property in substantially the same form as the document attached as Exhibit 3 and shall be recorded with the Davidson County Register of Deeds.
Deed Restriction. [Include the following language for projects where CPA funds were used to purchase a real property interest and we need to require a restriction in perpetuity per state law, OR when it is decided that the project should be bound by such a perpetual restriction]
