PROPERTY AND PURPOSES. The business of the Partnership is to invest in, purchase, acquire, hold, maintain, operate, improve, develop, sell, exchange, lease and otherwise use real property (“Property”) described below and located in the City of Frisco, Texas. The Property consists of 406 residential lots, with associated roads, easements and other common areas, and improved for the construction and sale of 406 quality single-family detached residences. The Property is currently the subject of a Purchase and Sale Agreement dated January 31, 2000 as modified by a First Amendment dated March 16, 2000 (collectively with any other amendments the “Contract of Sale”) between Hunter Tract Associates; L.P. as seller and Xxxxxxx Xxxx Homes Texas, Inc. as purchaser. The Partnership is acquiring, prior to closing currently scheduled for May 15, 2000, by assignment from Xxxxxxx Xxxx Homes Texas, Inc. all of its rights and obligations as purchaser of the Property under the Contract of Sale. A legal description of the Property is contained on Exhibit A attached to and made a part of this Agreement. A copy of the Contract of Sale, as amended, is attached to and made a part of this Agreement as Exhibit X. Xxxxxxx Xxxx Homes Texas, Inc. is an affiliate of the General Partner, but Hunter Tract Associates, L.P. is not an affiliate of or related in any way to the General Partner.
PROPERTY AND PURPOSES. The business of the Partnership is to invest in, purchase, acquire, hold, maintain, operate, improve, develop, sell, exchange, lease and otherwise use approximately 226.996 acres of real property (“Property”) consisting of 396 single-family lots in the Waterford Subdivision located in Elgin Township, Xxxx county, Illinois, and legally described on Exhibit A attached to and made a part of this Agreement. The Property is under development and sale and includes all of the lots described on the attached Exhibit A along with all improvements located on such lots, including, but without limitation, any home under construction or completed which is the subject of a sale contract but not yet delivered to third party purchasers, and all associated common areas included within the legal description contained on attached Exhibit A. As of the effective date of this Agreement, the General Partner, as the record owner of the Property, assigns to the Partnership all of its right, title and interest in and to the Property under the Contracts as an additional capital contribution to the Partnership.
PROPERTY AND PURPOSES. The business of the Partnership is to invest in, purchase, acquire, hold, maintain, operate, improve, sell, exchange, lease and otherwise use real property (“Property”) located in Neighborhood 1 in the River Pointe Subdivision located south of Highway 132, north of and contiguous to the Tuolumne River and east of North Xxxxxxx Road in the City of Waterford, Stanislaus County, California. The Property is under contract and will consist of 129 developed, single-family lots and associated roadways and other improvements. The Property is part of a larger development and will be known as the River Pointe Planned Community. The General Partner, in its individual corporate capacity and not as General Partner of this Partnership, has entered into a Contract for the Property. The Property is legally described on Exhibit A attached to and made a part of this Agreement. The Contract is attached hereto as Exhibit B and made a part of this Agreement. As of the effective date of this Agreement, the General Partner assigns to the Partnership all of its right, title and interest in and to the Contracts as an additional capital contribution to the Partnership.
PROPERTY AND PURPOSES. The business of the Partnership is to invest in, purchase, acquire, hold, maintain, operate, improve, develop, sell, exchange, lease and otherwise use real property (“Property”) located in the north Natomas area of the City of Sacramento, Sacramento County, California. The Property consists of Villages 3, 4, 5 and 6 in the Parkview Subdivision and are a part of the Parkview Master Planned Community. Village 3 consists of 60 single-family lots; Village 4 consists of 49 single-family lots; Village 5 consists of 76 single-family lots; and Village 6 consists of 73 single-family lots. The legal description for Villages 3 and 5 is attached hereto as Exhibit A. The legal description for Villages 4 and 6 is attached hereto as Exhibit B. The Property is under development and sale and includes all of the lots described on the attached Exhibits A and B along with all improvements located on such lots, including, but without limitation, any home under construction or completed which is the subject of a sale contract but not yet delivered to third party purchasers, and all associated common areas included within the legal description contained on Exhibits A and B. As of the effective date of this Agreement, the General Partner, as the record owner of the Property, assigns to the Partnership all of its right, title and interest in and to the Contracts as an additional capital contribution to the Partnership.
PROPERTY AND PURPOSES. The business of the Partnership is to invest in, purchase, acquire, hold, maintain, operate, improve, develop, sell, exchange, lease and otherwise use real property (“Property”) located in the Village of Glenview (“Village”), Xxxx County, Illinois. The Property consists of real estate approved by the Village for a total of 154 townhome residential dwelling units. It is part of the real estate to be known as The Xxxx, which is to be developed as a mixed-use community on a portion of what was the Glenview Naval Air Station. The Property is being acquired in at least two take-outs pursuant to the terms of an Agreement for Purchase and Sale of Real Estate dated March 16, 2001 and effective March 20, 2001 between the Village as seller and OliverMcMillan, LLC as purchaser. All of the rights and interests of OliverMcMillan to the residential parcels under such Agreement for Purchase and Sale of Real Estate have been transferred to the General Partner in its individual capacity and not as General Partner of the Partnership pursuant to the terms of an Assignment of Agreement dated and effective March 20, 2001 between OliverMcMillan as assignor and the General Partner individually, as assignee. Contemporaneously with the execution of this Agreement, and also effective September 1, 2001, the General Partner in its individual capacity assigned all of its right and interest in the residential parcels constituting the Property pursuant to an Assignment of Interest. A copy of the Agreement for Purchase and Sale of Real Estate is attached to and made a part of this Agreement as Exhibit A. A copy of the Assignment of Agreement is attached to and made a part of this Agreement as Exhibit B. A copy of the Assignment of Interest is attached to and made a part of this Agreement as Exhibit C. The legal description of the Property is contained on Exhibit D attached to and made a part of this Agreement. The Property shall be developed, marketed, constructed and sold as high-quality upscale townhomes in accordance with the development plan obtained from and required by the Village.
PROPERTY AND PURPOSES. The business of the Partnership is to invest in, purchase, acquire, hold, maintain, operate, improve, develop, sell, exchange, lease and otherwise use approximately 69.98 acres of real property (“Property”) consisting of 146 single-family lots and 184 multi-family units in the Calusa Palms Subdivision located in Fort Xxxxx, Xxx County, Florida. The Property is under development and sale and includes all of the lots described on the attached Exhibit A along with all improvements located on such lots, including, but without limitation, any home under construction or completed which is the subject of a sale contract but not yet delivered to third party purchasers, and all associated common areas included within the legal description contained on attached Exhibit A. As of the effective date of this Agreement, the General Partner, as the record owner of the Property, assigns to the Partnership all of its right, title and interest in and to the Property as an additional capital contribution to the Partnership.
PROPERTY AND PURPOSES. The business of the Partnership is to invest in, purchase, acquire, hold, maintain, operate, improve, develop, sell, exchange, lease and otherwise use 127 lots in Xxxxx County, Washington (“Property”) and legally described on Exhibit A attached hereto and made a part of this Agreement. The Property is under contract and will consist of 127 single family lots and associated roadways and other improvements for the development. The General Partner in its individual corporate capacity and not as General Partner of this Partnership has entered into a Contract for the Property. The Contract is attached hereto as Exhibit B and made a part of this Agreement. As of the effective date of this Agreement, the General Partner, as the record owner of the Property, assigns to the Partnership all of its right, title and interest in and to the Property under the Contracts as an additional capital contribution to the Partnership.
PROPERTY AND PURPOSES. The business of the Partnership is to invest in, purchase, acquire, hold, maintain, operate, improve, develop, sell, exchange, lease and otherwise use real property (“Property”) located in the Village of Bolingbrook, County of Will, Illinois. The Property consists of 385 single-family detached lots with associated roads and other common areas. The General Partner intends to market the Property under the name “Foxridge Farms”. The legal description of the Property is attached to and made a part of this Agreement as Exhibit A. The General Partner previously acquired the Property from Lakewood Homes, Inc. as Seller. Lakewood Homes is not owned, controlled or affiliated with the General Partner. The General Partner shall, subsequent to the execution of this Agreement and prior to the delivery of the first home to be built on the Property, transfer title to the Property to the Partnership.
PROPERTY AND PURPOSES. The business of the Partnership is to invest in, purchase, acquire, hold, maintain, operate, improve, develop, sell, exchange, lease and otherwise use approximately 306.4035 acres of real property (“Property”) in Bristol Township, Xxxxxxx County and adjacent to the municipal boundaries of the United City of Yorkville, Illinois and legally described on Exhibit A attached to and made a part of this Agreement. The Property is under contract and will consist of single family lots and associated roadways and other improvements for the development as approved by Yorkville. The General Partner in its individual corporate capacity and not as General Partner of this Partnership has entered into a Contract for the Property. The Contract is attached hereto as Exhibit B and made a part of this Agreement. As of the effective date of this Agreement, the General Partner, as the record owner of the Property, assigns to the Partnership all of its right, title and interest in and to the Property under the Contracts as an additional capital contribution to the Partnership.
PROPERTY AND PURPOSES. The business of the Partnership is to invest in, purchase, acquire, hold, maintain, operate, improve, develop, sell, exchange, lease and otherwise use of real property (“Property”) located in the City of Las Vegas, Xxxxx County, Nevada. The Property consists of approximately 15 acres of real estate in the Centennial Heights subdivision which will be developed into 120 single-family lots and associated roadways and improvements for development. The Property is under development and sale by the General Partner in its individual corporate capacity and not as General Partner of this Partnership. The Property is legally described, with a list of the included lots, on Exhibit A attached to and made a part of this Agreement. The Property includes all of the lots described on attached Exhibit A along with all improvements located on such lots, including, but without limitation, any home under construction or completed which is the subject of a sale contract but not yet delivered to third party purchasers, and all associated common areas included within the legal description contained on attached Exhibit A. As of the effective date of this Agreement, the General Partner, as the record owner of the Property, assigns to the Partnership all of its right, title and interest in and to the Property as an additional capital contribution to the Partnership. The Property shall continue to be developed, marketed, constructed and sold as high-quality residences in accordance with the development plan and all applicable ordinances and other requirements of Las Vegas, Xxxxx County, Nevada.
