Memorializing Development Attribute Application to Parcels Clause Samples

Memorializing Development Attribute Application to Parcels. The Entertainment District Development Plan approved in Case No. 9-ZN-2020 establishes the total Development Area Budget and determines the development standards applicable under the PBD for all Parcels that make up the Property. Upon each of (1) the expiration of thirty (30) days from the approval of Case No. 9-ZN-2020, (2) final resolution of any referendum filed against 9-ZN- 2020, if any, and (3) any Allocation of Development Attributes, Transfer of Development Rights, Severance or Combination, Developer, all property owners, all lienholders (including all beneficiaries under a deed of trust or other recorded security instrument), and all interested persons holding an interest in the portions of the Property affected by each such circumstances set forth above, shall sign the Allocation of Development Attributes form attached as Exhibit "D" (the “Development Attributes Allocation Status Form”) and submit it to the City for recordation in the Maricopa County Recorders’ Office. No development applications, building permits, or other City approvals for the affected portion of the Property will be approved until the applicable Development Attributes Allocation Status Form is recorded as provided in this subsection. If an error is made on the Development Attributes Allocation Status Form, upon notice by Developer or the City to the other, the City and Developer shall cause a revised Development Attributes Allocation Status Form reflecting the correct allocated Development Attributes associated with each Parcel and the remaining unallocated Development Attributes contained in the Development Area Budget to be prepared by Developer, provided to the City, and to be recorded as set forth in this subsection. Any execution of any Development Attributes Allocation Status Form by any lienholder or beneficiary under a deed of trust or other security instrument shall not, in and of itself, affect or vitiate any separate agreement between Developer and such lienholder or beneficiary with respect to any related matters (including without limitation any separate approval or consent rights with respect to any alterations to the subject property relating hereto).