Common use of Notice of Assessments Clause in Contracts

Notice of Assessments. Xxxxxxxxx further agrees as follows: (i) the Declaration of Covenants, Conditions and Restrictions in the form attached hereto as Exhibit II shall be terms, conditions and provisions running with the Landowner’s Parcel and shall be recorded (the contents of which shall be consistent with the Assessment Ordinance and the Service and Assessment Plan as reasonably determined by the City) in the records of the County Clerk of Johnson County, as a lien and encumbrance against such Phase #3 Assessed Property, and Landowner hereby authorizes the City to so record such documents against the Phase #3 Assessed Property owned by Xxxxxxxxx; (ii) in the event of any subdivision, sale, transfer or other conveyance by the Landowner of the right, title or interest of the Landowner in the Landowner’s Parcel or any part thereof, the Landowner’s Parcel, or any such part thereof, shall continue to be bound by all of the terms, conditions and provisions of such Declaration of Covenants, Conditions and Restrictions and any purchaser, transferee or other subsequent owner shall take such Phase #3 Assessed Property(s) subject to all of the terms, conditions and provisions of such Declaration of Covenants, Conditions and Restrictions; and (iii) Landowner shall comply with, and shall contractually obligate (and, upon the City’s request, promptly provide written evidence of such contractual provisions to the City) any party who purchases any Phase #3 Assessed Property owned by Landowner, or any portion thereof, for the purpose of constructing residential properties that are eligible for “homestead” designations under State law, to comply with the Homebuyer Education Program described on Exhibit III to this Agreement. Such compliance obligation shall terminate as to each Lot if, and when, (i) a final certificate of occupancy for a residential unit on such Lot is issued by the City, and (ii) there is a sale of a Lot to an individual homebuyer, it being the intent of the undersigned that the Homebuyer Education Program shall apply only to a commercial builder who is in the business of constructing and/or selling residences to individual home buyers (a “Builder”) but not to subsequent sales of such residence and Lot by an individual home buyer after the initial sale by a Builder. Notwithstanding the provisions of this Section, upon the Landowner’s request and the City’s consent, in the City’s sole and absolute discretion, the Declaration of Covenants, Conditions and Restrictions may be included with other written restrictions running with the land on property within the District, provided they contain all the material provisions and provide the same material notice to prospective property owners as does the document attached as Exhibit II. .

Notice of Assessments. Xxxxxxxxx Landowner further agrees as follows: (i) the Declaration of Covenants, Conditions and Restrictions in the form attached hereto as Exhibit II B shall be terms, conditions and provisions running with the Landowner’s 's Parcel and shall be recorded (the contents of which shall be consistent with the Assessment Ordinance and the Service and Assessment Plan as reasonably determined by the City) ), in the records of the County Clerk of Johnson Collin County, as a lien and encumbrance against such Phase #3 Assessed PropertyLandowner's Parcel, and Landowner hereby authorizes the City to so record such documents against the Phase #3 Assessed Property Landowner's Parcel owned by XxxxxxxxxLandowner; (ii) reference to the Covenants, Conditions and Restrictions attached hereto as Exhibit B shall be included on all recordable subdivision plats and such plats shall be recorded in the real property records of Collin County, Texas; (iii) in the event of any subdivision, sale, transfer or other conveyance by the Landowner of the right, title or interest of the Landowner in the Landowner’s 's Parcel or any part thereof, the Landowner’s 's Parcel, or any such part thereof, shall continue to be bound by all of the terms, conditions and provisions of such Declaration of Covenants, Conditions and Restrictions and any purchaser, transferee or other subsequent owner shall take such Phase #3 Assessed Property(s) Landowner's Parcel subject to all of the terms, conditions and provisions of such Declaration of Covenants, Conditions and Restrictions; and (iiiiv) Landowner shall comply with, and shall contractually obligate (and, upon the City’s request, and promptly provide written evidence of such contractual provisions to the City) any party who purchases any Phase #3 Assessed Property Landowner's Parcel owned by Landowner, or any portion thereof, for the purpose of constructing residential properties that are eligible for “"homestead” " designations under State law, to comply with with, the Homebuyer Education Program described on Exhibit III C to this Agreement. Such compliance obligation shall terminate as to each Lot if, and when, (i) a final certificate of occupancy for a residential unit on such Lot is issued by the City, and (ii) there is a sale of a Lot to an individual homebuyer, it being the intent of the undersigned that the Homebuyer Education Program shall apply only to a commercial builder who is in the business of constructing and/or selling residences to individual home buyers (a “"Builder”") but not to subsequent sales of such residence and Lot by an individual home buyer after the initial sale by a Builder. Notwithstanding the provisions of this Section, upon the Landowner’s 's request and the City’s 's consent, in the City’s 's sole and absolute discretion, the Declaration of Covenants, Conditions and Restrictions may be included with other written restrictions running with the land on property within the District, provided they contain all the material provisions and provide the same material notice to prospective property owners as does the document attached as Exhibit II. .B.

Notice of Assessments. Xxxxxxxxx further agrees as follows: (i) the Declaration of Covenants, Conditions and Restrictions in the form attached hereto as Exhibit II shall be terms, conditions and provisions running with the Landowner’s Parcel and shall be recorded (the contents of which shall be consistent with the Assessment Ordinance and the Service and Assessment Plan as reasonably determined by the City) ), in the records of the County Clerk of (ii) reference to the Covenants, Conditions and Restrictions attached hereto as Exhibit II shall be included on all recordable subdivision plats and such plats shall be recorded in the real property records of Johnson County, as a lien and encumbrance against such Phase #3 Assessed Property, and Landowner hereby authorizes the City to so record such documents against the Phase #3 Assessed Property owned by XxxxxxxxxTexas; (iiiii) in the event of any subdivision, sale, transfer or other conveyance by the Landowner of the right, title or interest of the Landowner in the Landowner’s Parcel or any part thereof, the Landowner’s Parcel, or any such part thereof, shall continue to be bound by all of the terms, conditions and provisions of such Declaration of Covenants, Conditions and Restrictions and any purchaser, transferee or other subsequent owner shall take such Phase #3 Assessed Property(s) Landowner’s Parcel subject to all of the terms, conditions and provisions of such Declaration of Covenants, Conditions and Restrictions; and (iiiiv) Landowner shall comply with, and shall contractually obligate (and, upon the City’s request, and promptly provide written evidence of such contractual provisions to the City) any party who purchases any Phase #3 Assessed Property Landowner’s Parcel owned by Landowner, or any portion thereof, for the purpose of constructing residential properties that are eligible for “homestead” designations under State law, to comply with with, the Homebuyer Education Program described on Exhibit III to this Agreement. Such compliance obligation shall terminate as to each Lot (as defined in the Service and Assessment Plan) if, and when, (i) a final certificate of occupancy for a residential unit on such Lot is issued by the City, and (ii) there is a sale of a Lot to an individual homebuyer, it being the intent of the undersigned that the Homebuyer Education Program shall apply only to a commercial builder who is in the business of constructing and/or selling residences to individual home buyers (a “Builder”) but not to subsequent sales of such residence and Lot by an individual home buyer after the initial sale by a Builder. Notwithstanding the provisions of this Section, upon the Landowner’s request and the City’s consent, in the City’s sole and absolute discretion, the Declaration of Covenants, Conditions and Restrictions may be included with other written restrictions running with the land on property within the District, provided they contain all the material provisions and provide the same material notice to prospective property owners as does the document attached as Exhibit II. .