Improvements Agreement. The Subdivision Improvements Agreement shall be reviewed and approved by the City Engineer (see Condition 16). Aside from the completion of the above-enumerated conditions within five years of the date of this Agreement, Landowners shall have the right to determine the timing and phasing of development of the Project during the term of this Agreement, provided that all infrastructure necessary to serve the Project, or that portion or phase of the Project being developed, is in place prior to the occupancy of that portion or phase of the Project. Landowners shall also have the right to determine the number of single-family residential building lots to be constructed at any time interval of its choosing within the term hereof. The City shall not restrict or limit the number of single-family residential building lots that may be constructed by Landowners in any particular year.
Improvements Agreement. Buyer and Seller acknowledge that Seller is a party to that certain document entitled "Improvements Agreement Bayside Towers (UP 96-011) Lincoln Property Company, N.C. Inc. and WHFST Real Estate Limited Partnership Foster City, California" dated September 23, 1998, which is reflected as item 24 on the Title Report (the "Improvements Agreement"), and that Seller has posted an improvement bond with the City of Xxxxxx City to secure the performance of the obligations of the Seller under the Improvements Agreement (the "Improvements Bond"). The obligations of the Seller under the Improvements Agreement (and/or under any maintenance agreement with the City of Xxxxxx City that may succeed to the Improvements Agreement) shall, notwithstanding the sale and transfer of the Property from the Seller to the Buyer, remain obligations of the Seller; and the obligations of the Seller with respect to the Improvements Bond (and/or under any maintenance bond posted with the City of Xxxxxx City to replace the Improvements Bond) shall, notwithstanding the sale and transfer of the Property from the Seller to the Buyer, remain obligations of the Seller. Notwithstanding any provision to the contrary herein or in the Purchase Agreement, the obligations of Seller under this Section 3.8 shall survive the Closing.
Improvements Agreement. The City and Ashley River agree and acknowledge that the Improvements Agreement is essential and integral to the development of the Magnolia Property, and is included herein to satisfy, in part, the requirements of § 6-31-60(A)(4) of the Act. Pursuant to and subject to the provisions of the Improvements Agreement, the City agrees to reimburse Ashley River from the Tax Increment Finance Revenue for the construction costs of the Facilities that will serve the development, a list of which is attached to the Improvements Agreement, attached hereto as Exhibit H. The City and Ashley River agree to use best efforts to satisfy the conditional requirements set forth in said agreement. The term of the Improvements Agreement shall continue for the duration of this Agreement or until acceptance by the City of the final Facility to be constructed by Ashley River and receipt by Ashley River of reimbursement as contemplated by the Improvements Agreement.
