Common use of Open Space Act Clause in Contracts

Open Space Act. This Act enables counties to enter into covenants with owners of land designated as farm, forest, water 260 supply, or open space land on an adopted municipal, county or regional plan for the purpose of preserving the land as open 261 space. A covenant between the owner and county is binding upon any Buyer of the Property during the period of time that 262 the covenant is in effect (5 or 10 years). Covenants automatically renew at the end of the covenant period unless specific 263 termination notice procedures are followed. Buyer has been advised of the need to determine the restrictions that will apply 264 from the sale of the Property to Buyer and the property tax implications that will or may result from a change in use of the 265 Property, or any portion of it. Buyer is further advised to determine the term of any covenant now in effect. 266 d. Conservation Reserve (Enhancement) Program: Properties enrolled in the Conservation Reserve Program or CREP are 267 environmentally-sensitive areas, the owners of which receive compensation in exchange for an agreement to maintain the 268 land in its natural state. Contracts last from 10 to 15 years and carry penalties to Seller if terminated early by Buyer. Buyer 269 has been advised of the need to determine the restrictions on development of the Property and the term of any contract now 270 in effect. Seller is advised to determine the financial implications that will or may result from the sale of the Property. 271 (E) Real Estate Seller Disclosure Law 272 Generally, the Real Estate Seller Disclosure Law requires that before an agreement of sale is signed, the seller in a residential real 273 estate transfer must make certain disclosures regarding the property to potential buyers in a form defined by the law. A residential 274 real estate transfer is defined as a sale, exchange, installment sales contract, lease with an option to buy, grant or other transfer of 275 an interest in real property where NOT LESS THAN ONE AND NOT MORE THAN FOUR RESIDENTIAL DWELLING 276 UNITS are involved. Disclosures for condominiums and cooperatives are limited to the seller’s particular unit(s). Disclosures 277 regarding common areas or facilities are not required, as those elements are already addressed in the laws that govern the resale 278 of condominium and cooperative interests. 279 (F) Public and/or Private Assessments 280 1. Seller represents that, as of the date Seller signed this Agreement, no public improvement, condominium or homeowner asso- 281 ciation assessments have been made against the Property which remain unpaid, and that no notice by any government or public 282 authority (excluding assessed value) has been served upon Seller or anyone on Seller’s behalf, including notices relating to 283 violations of zoning, housing, building, safety or fire ordinances that remain uncorrected, and that Seller knows of no condition 284 that would constitute a violation of any such ordinances that remain uncorrected, unless otherwise specified here: 285

Open Space Act. This Act enables counties to enter into covenants with owners of land designated as farm, forest, water 260 259 supply, or open space land on an adopted municipal, county or regional plan for the purpose of preserving the land as open 261 260 space. A covenant between the owner and county is binding upon any Buyer of the Property during the period of time that 262 261 the covenant is in effect (5 or 10 years). Covenants automatically renew at the end of the covenant period unless specific 263 262 termination notice procedures are followed. Buyer has been advised of the need to determine the restrictions that will apply 264 263 from the sale of the Property to Buyer and the property tax implications that will or may result from a change in use of the 265 264 Property, or any portion of it. Buyer is further advised to determine the term of any covenant now in effect. 266 265 d. Conservation Reserve (Enhancement) Program: :Properties enrolled in the Conservation Reserve Program or CREP are 267 266 environmentally-sensitive areas, the owners of which receive compensation in exchange for an agreement to maintain the 268 267 land in its natural state. Contracts last from 10 to 15 years and carry penalties to Seller if terminated early by Buyer. Buyer 269 268 has been advised of the need to determine the restrictions on development of the Property and the term of any contract now 270 269 in effect. Seller is advised to determine the financial implications that will or may result from the sale of the Property. 271 270 (E) Real Estate Seller Disclosure Law 272 271 Generally, the Real Estate Seller Disclosure Law requires that before an agreement of sale is signed, the seller in a residential real 273 272 estate transfer must make certain disclosures regarding the property to potential buyers in a form defined by the law. A residential 274 273 real estate transfer is defined as a sale, exchange, installment sales contract, lease with an option to buy, grant or other transfer of 275 274 an interest in real property where NOT whereNOT LESS THAN ONE AND NOT MORE THAN FOUR RESIDENTIAL DWELLING 276 UNITS are 275 UNITSare involved. Disclosures for condominiums and cooperatives are limited to the seller’s 's particular unit(s). Disclosures 277 276 regarding common areas or facilities are not required, as those elements are already addressed in the laws that govern the resale 278 277 of condominium and cooperative interests. 279 278 (F) Public and/or Private Assessments 280 279 1. Seller represents that, as of the date Seller signed this Agreement, no public improvement, condominium or homeowner asso- 281 280 ciation assessments have been made against the Property which remain unpaid, and that no notice by any government or public 282 281 authority (excluding assessed value) has been served upon Seller or anyone on Seller’s 's behalf, including notices relating to 283 282 violations of zoning, housing, building, safety or fire ordinances that remain uncorrected, and that Seller knows of no condition 284 283 that would constitute a violation of any such ordinances that remain uncorrected, unless otherwise specified here: 285284 285 2. Seller knows of no other potential notices (including violations) and/or assessments except as follows: 286 287 (G) Highway Occupancy Permit 288 Access to a public road may require issuance of a highway occupancy permit from the Department of Transportation.

Open Space Act. This Act enables counties to enter into covenants with owners of land designated as farm, forest, water 260 supply, or open space land on an adopted municipal, county or regional plan for the purpose of preserving the land as open 261 space. A covenant between the owner and county is binding upon any Buyer of the Property during the period of time that 262 the covenant is in effect (5 or 10 years). Covenants automatically renew at the end of the covenant period unless specific 263 termination notice procedures are followed. Buyer Xxxxx has been advised of the need to determine the restrictions that will apply 264 from the sale of the Property to Buyer and the property tax implications that will or may result from a change in use of the 265 Property, or any portion of it. Buyer Xxxxx is further advised to determine the term of any covenant now in effect. 266 d. Conservation Reserve (Enhancement) Program: Properties enrolled in the Conservation Reserve Program or CREP are 267 environmentally-sensitive areas, the owners of which receive compensation in exchange for an agreement to maintain the 268 land in its natural state. Contracts last from 10 to 15 years and carry penalties to Seller if terminated early by BuyerXxxxx. Buyer 269 has been advised of the need to determine the restrictions on development of the Property and the term of any contract now 270 in effect. Seller is advised to determine the financial implications that will or may result from the sale of the Property. 271 (E) Real Estate Seller Disclosure Law 272 Generally, the Real Estate Seller Disclosure Law requires that before an agreement of sale is signed, the seller in a residential real 273 estate transfer must make certain disclosures regarding the property to potential buyers in a form defined by the law. A residential 274 real estate transfer is defined as a sale, exchange, installment sales contract, lease with an option to buy, grant or other transfer of 275 an interest in real property where NOT LESS THAN ONE AND NOT MORE THAN FOUR RESIDENTIAL DWELLING 276 UNITS are involved. Disclosures for condominiums and cooperatives are limited to the seller’s particular unit(s). Disclosures 277 regarding common areas or facilities are not required, as those elements are already addressed in the laws that govern the resale 278 of condominium and cooperative interests. 279 (F) Public and/or Private Assessments 280 1. Seller represents that, as of the date Seller signed this Agreement, no public improvement, condominium or homeowner asso- 281 ciation assessments have been made against the Property which remain unpaid, and that no notice by any government or public 282 authority (excluding assessed value) has been served upon Seller or anyone on Seller’s behalf, including notices relating to 283 violations of zoning, housing, building, safety or fire ordinances that remain uncorrected, and that Seller knows of no condition 284 that would constitute a violation of any such ordinances that remain uncorrected, unless otherwise specified here: 285

Open Space Act. This Act enables counties to enter into covenants with owners of land designated as farm, forest, water 260 257 supply, or open space land on an adopted municipal, county or regional plan for the purpose of preserving the land as open 261 258 space. A covenant between the owner and county is binding upon any Buyer of the Property during the period of time that 262 259 the covenant is in effect (5 or 10 years). Covenants automatically renew at the end of the covenant period unless specific 263 260 termination notice procedures are followed. Buyer has been advised of the need to determine the restrictions that will apply 264 261 from the sale of the Property to Buyer and the property tax implications that will or may result from a change in use of the 265 262 Property, or any portion of it. Buyer is further advised to determine the term of any covenant now in effect. 266 263 d. Conservation Reserve (Enhancement) Program: Properties enrolled in the Conservation Reserve Program or CREP are 267 264 environmentally-sensitive areas, the owners of which receive compensation in exchange for an agreement to maintain the 268 265 land in its natural state. Contracts last from 10 to 15 years and carry penalties to Seller if terminated early by Buyer. Buyer 269 266 has been advised of the need to determine the restrictions on development of the Property and the term of any contract now 270 267 in effect. Seller is advised to determine the financial implications that will or may result from the sale of the Property. 271 268 (E) Real Estate Seller Disclosure Law 272 269 Generally, the Real Estate Seller Disclosure Law requires that before an agreement of sale is signed, the seller in a residential real 273 270 estate transfer must make certain disclosures regarding the property to potential buyers in a form defined by the law. A residential 274 271 real estate transfer is defined as a sale, exchange, installment sales contract, lease with an option to buy, grant or other transfer of 275 272 an interest in real property where NOT LESS THAN ONE AND NOT MORE THAN FOUR RESIDENTIAL DWELLING 276 273 UNITS are involved. Disclosures for condominiums and cooperatives are limited to the seller’s 's particular unit(s). Disclosures 277 274 regarding common areas or facilities are not required, as those elements are already addressed in the laws that govern the resale 278 275 of condominium and cooperative interests. 279 276 (F) Public and/or Private Assessments 280 277 1. Seller represents that, as of the date Seller signed this Agreement, no public improvement, condominium or homeowner asso- 281 278 ciation assessments have been made against the Property which remain unpaid, and that no notice by any government or public 282 279 authority (excluding assessed value) has been served upon Seller or anyone on Seller’s 's behalf, including notices relating to 283 violations vio- 280 lations of zoning, housing, building, safety or fire ordinances that remain uncorrected, and that Seller knows of no condition 284 281 that would constitute a violation of any such ordinances that remain uncorrected, unless otherwise specified here: 285282