Property Acquisition Clause Samples
The Property Acquisition clause defines the terms and conditions under which a party obtains ownership or rights to a specific property. It typically outlines the process for transferring title, the obligations of both buyer and seller, and any conditions that must be met before the acquisition is finalized, such as inspections or financing approval. This clause ensures that both parties understand the steps required for a valid transfer and helps prevent disputes by clearly delineating responsibilities and timelines.
Property Acquisition. Prepare right-of-way/easement tract maps and descriptions as required in clearly drawn detail and with sufficient reference to certificate of title descriptions. ENGINEER will perform all necessary survey work associated with marking the additional right-of-way or easements. This shall include the setting monuments of new corners for any additional right-of-way and a one time marking of the right- of-way for utility relocations. The ENGINEER shall perform all necessary title work and sufficient re- search for determination of current right-of-way and easements.
Property Acquisition. If the project involves property acquisition, the Contractor’s files must contain the following records:
Property Acquisition. No real or personal property shall be acquired jointly by the Parties as a result of this Agreement. To the extent that a Party acquires, holds or disposes of any real or personal property for use in the joint undertaking contemplated by this Agreement, such Party shall do so in the same manner that it deals with other property of such Party.
Property Acquisition. The Grantee may not obligate or expend any funds (Federal, State, or private) to acquire any real property for the Project, including rights-of-way, unless property acquisition is specifically authorized in the Statement of Work incorporated as an attachment to this Agreement and unless the required National Environmental Policy Act (NEPA) documentation for the associated acquisition step is by then completed as determined in writing by FRA and any required California Environmental Quality Act (CEQA) documentation for the associated acquisition step is by then completed as determined by the Grantee.
Property Acquisition. In the event real property interest acquisition is a service required pursuant to this Contract, then all of the following standards shall apply:
(i) Consulting Engineer shall provide standard title reports for each property interest.
(ii) Consulting Engineer shall provide written metes and bounds legal descriptions and related exhibits for each permanent property interest to be acquired.
(iii) Legal descriptions and exhibits shall be sealed by a Missouri Professional Land Surveyor.
Property Acquisition. Any proposed acquisition of Securities, assets or real estate, any proposed leasing of property or any other action by any Loan Party or any of its Material Subsidiaries other than those the consequences of which in the aggregate have reasonable likelihood of subjecting the Loan Parties collectively to Environmental Liabilities and Costs that have a Material Adverse Effect;
Property Acquisition. The Parties acknowledge that, if required, the Developer is responsible for the acquisition of certain off-site property rights and interests to allow the Public Improvements to be constructed to serve the Property. Developer shall use commercially reasonable efforts to obtain all third-party rights-of-way, consents, or easements, if any, needed to construct the off-site Public Improvements. The Developer shall provide evidence of costs, maps, locations and size of infrastructure to the City and obtain the City’s consent prior to such acquisition of third-party rights-of-way, consents, or easements needed to construct the off-site Public Improvements.
Property Acquisition. Should the Developer propose a Future Project on the Property beyond the scope of the Project described herein, and the City estimates the assessed value of such Future Project to be no less than six million dollars ($6,000,000.00), the City and/or RDA shall, within twenty-four (24) months from the date Developer proposes such additional improvements:
a) Acquire the real property at 345 S. Pearl St. (Tax Parcel 3-552) (the "Future Project Site"); and
b) Prepare the Future Project Site for redevelopment in a manner similar to that described in Section III. B. 3.; and
c) Convey the Future Project Site to Developer, free and clear of liens and encumbrances that materially prohibit development of the Property as herein proposed, via warranty deed, for the sum of one dollar ($1.00).
d) Should the RDA and/or City acquire the Future Project Site in a manner that does not permit transfer of such parcel to Developer, the RDA and or/City shall construct parking spaces in a manner similar to that described in Section III B. 2. c., which shall be made available to Developer on an as-available basis.
Property Acquisition. Costs of acquiring any property or easements in which the Utility Improvements are located.
Property Acquisition. All personal property acquired with funds pursuant to this agreement shall be acquired in compliance with 2 CFR 200.420-200.475. The CONTRACTOR shall obtain approval of the CITY for uses of the property in addition to those described in Exhibit A. Use in other projects shall be limited to those projects or programs that have purposes consistent with the Housing and Community Development Act of 1974 (Public Law 93-383), as amended.