Common use of Private Improvements Clause in Contracts

Private Improvements. 5.1 All Private Improvements to be completed by the Developer shall be included on either the Final Plat and/or the Conditions of Approval as set forth in Exhibit “A” attached hereto. All Private Improvements shall be completed prior to Final Subdivision Acceptance or as otherwise stated in Exhibit “A”. 5.2 All Private Improvements and their maintenance thereafter shall be the responsibility of the Developer or his assigns. The Private Improvements shall only be made on property that will NOT be dedicated to nor accepted by the City, but instead shall be owned by the Developer, a lot owner and/or a Property Owner’s Association. 5.3 The Developer shall post Security for a value of the construction of the Private Improvements. The City Engineer shall establish that amount of the Security. 5.4 If the establishment of a Property Owner’s Association is required as a Condition of Approval, then the Developer shall be responsible for the formation of the Property Owner’s Association. The Developer shall file a charter with the Tennessee Secretary of State to establish the corporate entity of the Property Owner’s Association, as well as draft by-laws and restrictive covenants of the Property Owner’s Association. The Property Owner’s Association must be formed, in good standing with the State of Tennessee and have its charter, by-laws and restrictive covenants recorded with the Shelby County Register prior to the recording of the Final Plat. The Property Owner’s Association its charter, by-laws and restrictive covenants shall conform to the Millington Subdivision Regulations. The Developer shall provide documentation to the City prior to the recording of the Final Plat that these items have been completed. 5.5 If the Property Owner’s Association is to own any real property, easements and/or common open space within the Subdivision then that property, easements and/or common open space must be deeded from the Developer to the Property Owner’s Association at the time of the recording of the Final Plat. Furthermore, it is a requirement that any and all common open space be owned by a Property Owner’s Association and that the deed transferring the property as well as the by-laws of the Property Owner’s Association clearly state that any and all property, easements and/or common open space owned by the Property Owner’s Association can not be transferred to another party, and if such a transfer does occur or the Property Owner’s Association shall cease to exist either through dissolution or other means then the responsibility of the maintenance of said property, easements and common open space shall become the personal liability and responsibility of every lot owner in the subdivision. Furthermore, the Property Owner’s Association and its by-laws and/or restrictive covenants shall conform the to the City of Millington Subdivision Regulations The Developer shall provide documentation to the City prior to the recording of the Final Plat that these items have been completed.

Private Improvements. 5.1 All Private Improvements to be completed by the Developer shall be included on either the Final Plat and/or the Conditions of Approval as set forth in Exhibit “A” attached hereto. All Private Improvements shall be completed prior to Final Subdivision Acceptance or as otherwise stated in Exhibit “A”. 5.2 All Private Improvements and their maintenance thereafter shall be the responsibility of the Developer or his assigns. The Private Improvements shall only be made on property that will NOT be dedicated to nor accepted by the City, but instead shall be owned by the Developer, a lot owner and/or a Property Owner’s Association. 5.3 The Developer shall post Security for a value of the construction of the Private Improvements. The City Engineer shall establish that amount of the Security. 5.4 If the establishment of a Property Owner’s Association is required as a Condition of Approval, then the Developer shall be responsible for the formation of the Property Owner’s Association. The Developer shall file a charter with the Tennessee Secretary of State to establish the corporate entity of the Property Owner’s Association, as well as draft by-laws and restrictive covenants of the Property Owner’s Association. The Property Owner’s Association must be formed, in good standing with the State of Tennessee and have its charter, by-laws and restrictive covenants recorded with the Shelby County Register prior to the recording of the Final Plat. The Property Owner’s Association its charter, by-laws and restrictive covenants shall conform to the Millington Subdivision Regulations. The Developer shall provide documentation to the City prior to the recording of the Final Plat that these items have been completed. 5.5 If the Property Owner’s Association is to own any real property, easements and/or common open space within the Subdivision then that property, easements and/or common open space must be deeded from the Developer to the Property Owner’s Association at the time of the recording of the Final Plat. Furthermore, it is a requirement that any and all common open space be owned by a Property Owner’s Association and that the deed transferring the property as well as the by-laws of the Property Owner’s Association clearly state that any and all property, easements and/or common open space owned by the Property Owner’s Association can not be transferred to another party, and if such a transfer does occur or the Property Owner’s Association shall cease to exist either through dissolution or other means then the responsibility of the maintenance of said property, easements and common open space shall become the personal liability and responsibility of every lot owner in the subdivision. Furthermore, the Property Owner’s Association and its by-laws and/or restrictive covenants shall conform the to the City of Millington Subdivision Regulations Regulations. The Developer shall provide documentation to the City prior to the recording of the Final Plat that these items have been completed.