Land Swap. In order for the Applicant to construct the Connector Road, it will be necessary for the Applicant and the City to exchange certain real property. The Applicant will exchange an approximately eight (8)-acre parcel within the Property, in the location labeled “Land Swap” on the Conceptual Plan, with the City for the 100-foot-wide (minimum) right-of-way for the Connector Road within the City’s regional park site, which is approximately 5.18 acres and is depicted on the Conceptual Plan. The Applicant’s parcel has a value greater than the City parcel, as required in Rule 62-818.016, Florida Administrative Code, which regulates such land exchanges. The Applicant will prepare all deeds, legal descriptions and sketches of description for the parcel exchange, at its expense.
Land Swap. In consideration of HRA’s promises as contained herein, Xxxxx Multifamily agrees to convey the Bremer Parcel to HRA by Limited Warranty Deed contemporaneously with HRA’s conveyance of the HRA Xxxxxx to Xxxxx Retail as required hereunder. In consideration of Interstate’s promises as contained herein, XXX agrees to convey the HRA Xxxxxx to Xxxxx Retail by Limited Warranty Deed contemporaneously with Xxxxx Multifamily’s conveyance of the Bremer Parcel to HRA as required hereunder.
Land Swap. The Town and DEVELOPER recognize that a Community Park is desirable, needed and appropriate to be owned by and serve the Town and its citizenry. The location provides ample parking and desirable vistas on the edge of Broad Creek connecting with and becoming an integral link to the Town’s proposed Xxxxxxx Park Linear Trail providing a location for walking, entertainment, educational activities, picnicking, and non-organized sports activities and playground areas. The Community Park’s general area results from the relocation of Shelter Cove Lane but may include portions along the waterfront of Parcel 26 on Beaufort County Tax Map 12B. The creation of a Town-owned Community Park in this location is also consistent with the terms and conditions of the Broad Creek Management Plan. The Community Park is shown on the Concept Plan and is currently owned by Developer and will be exchanged by Developer for the Exchange Parcel at the time (“Closing”) provided in Paragraph V.(vii) hereafter. The Community Park to be exchanged by the Developer shall be equal in size or greater than the Exchange Parcel, but the exact dimensions of the Community Park and Exchange Parcel will be determined prior to the Closing Date by virtue of a survey which shall be prepared by the DEVELOPER, at DEVELOPER’S expense, subject to the approval of the Town, which will show the exact metes, bounds and acreage of the Land Swap and which shall be in substantial conformance with the Concept Plan. It is understood and agreed between DEVELOPER and the Town that all land constituting the Land Swap shall be usable land which either party is able to make reasonable use of, and shall not consist of impractical or unusable land remnants/slivers or other areas which provide little benefit to the Town and/or DEVELOPER. Contemporaneously with the aforementioned exchange of property, DEVELOPER will also grant an easement to the Town over DEVELOPER’S property containing the apartments on the southwest portion of the Mall Tract, for the Town to connect property fronting Broad Creek (and to be conveyed to the Town pursuant to the Land Swap and Concept Plan) to the pathway located on Shelter Cove Lane by virtue of a multi-purpose pathway. The portions of the multi-purpose pathway located along property fronting Broad Creek (adjacent to the southwest apartments and to be conveyed to the Town pursuant to the Land Swap and Concept Plan), and the portions connecting to the pathway located on Shelter Cove Lane, sha...
Land Swap. Landlord has, with Tenant's agreement, arranged with Atlantic Development and its affiliated entities (hereafter "Atlantic") to exchange a portion of the land which is part of the Property for a parcel of land owned by Atlantic. At such time as the land swap is completed, the Property shall no longer include the parcel of land to be conveyed by Landlord and shall include the parcel of land to be conveyed to Landlord by Atlantic.
Land Swap. 27 1.27 Accounts, Inventory and other Floating Charge Collateral........28 (a)
Land Swap. (a) Upon the date of consummation of the Land Swap pursuant to the Land Exchange Agreement
(1) Debtor shall, at its sole cost and expense, execute, acknowledge and deliver to Holder for the benefit of the Secured Parties a supplemental debenture, substantially in the form of and with the same terms as this Debenture, creating a fixed charge on the Land Swap-Acquisition Parcel and all fixtures thereto and shall cause to be filed, registered or recorded in the appropriate offices all instruments necessary or appropriate, and shall obtain all discharges required, to create and protect a first priority Lien in such assets,
(2) Debtor shall comply with the provisions of Section 4.15 of the Indenture and deliver all documents required under Section 11.04 of the Indenture, as required in respect of the Land Swap, together with (i) an Opinion of Counsel to Debtor, that (x) Debtor has corporate power to own the Land Swap-Acquisition Parcel, (y) Debtor has complied with all conditions precedent applicable under the Debenture and Indenture relating to the release of the Land Swap-Sale Parcel and (z) Debtor has good and marketable title to, and the supplemental debenture creates a valid and effective first priority Lien on, the Land Swap-Acquisition Parcel; and (ii) an Officer's Certificate of Debtor certifying that the representations and warranties set forth in Sections 1.26(b) and 1.26(c) below are true as of the date of consummation of the Land Swap, and
(3) upon receipt of the documents and satisfaction of the conditions set forth in clauses (1) and (2) above, Holder agrees (at the sole cost and expense of Debtor) to release the Land Swap-Sale Parcel from the Lien and charge of this Debenture and to execute such documents as may be necessary or required by any and all applicable laws to effect such release, subject to Section 11.04 of the Indenture.
(b) Debtor represents and warrants as follows: (i) there is no Equipment or Inventory and there are no material Improvements located on the Land Swap-Sale Parcel, (ii) the Land Swap-Sale Parcel is not material to the operation of the Debtor's business and undertaking and (iii) the release of the Land Swap-Sale Parcel will not have a material adverse effect on the value of the Mortgaged Property or impair the usefulness of the Mortgaged Property in the conduct of Debtor's business and undertaking.
(c) Debtor represents and warrants that the Land Swap-Sale Parcel is materially represented by the areas coloured in blue o...
Land Swap. Xxxxxxxxx has entered into negotiations with the owner of property to the north of the Development Property (the “Adjacent Property”) to exchange portions of the Development Property with the Adjacent Property. If such negotiations are successful, the Authority and Developer will negotiate an amendment to this Agreement and/or the Deed to reflect the updated legal description of the Development Property.
Land Swap. Weston Fee Owner agrees to swap a portion of its land in exchange for a portion of the Town’s land, to provide a development parcel (the “East Parcel”), as shown on the plan attached hereto as Exhibit
Land Swap. 12.1 In consideration of MCMA agreeing to allow or permit KMSB to develop the Project on the Land in accordance with the terms of this Agreement, MCMA shall be paid the sum of Ringgit Malaysia Ten Thousand (RM10,000.00) only upon the signing of this Agreement and MCMA shall be entitled to swap the Land with following properties/unit(s)/car parks lot and shall also be entitled to the benefits stated hereinbelow:-
(a) Under Option 1 (Plot Ratio 1:13) :
(i) Six (6) Storey MCMA Head Quarters/Building with gross floor area of approximately 18,000 square feet (Land area of approximately 500 square meters) complete with finishes, fixtures, air conditionings and 2 passengers lifts but excluding furniture and equipments;
(ii) Two (2) units of SOHO under the Project;
(iii) Designated car park for MCMA’s staff.
(iv) Special discount of 3% on net selling price for maximum of Twenty (20) units of the proposed SOHO/Office units under the Project shall be offered to the members of MCMA Sixty (60) days prior to the official launch of the Project.
Land Swap
