PROPERTY AND PURPOSES Sample Clauses
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 City of XxXxxxx, XxXxxxx County, Illinois. The Property consists of real estate which 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 the City of XxXxxxx, XxXxxxx County, Illinois, as part of the Shamrock Farm subdivision.
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 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.
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 16 acres of unimproved real property located generally north of Hammer Lane and west of Xxxxxx Road, Stockton, San Xxxxxxx County, California and shown as Parcel 2 on Tentative Parcel M Map No. 11-03, dated April 24, 2003 prepared by Siegfried Engineering and legally described on Exhibit A attached hereto and a part of this Agreement. The Property is under contract and will consist of 84 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 as Exhibit B to 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 Contract 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, 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 approximately 160 acres of real property (“Property”) located adjacent to the Village of Shorewood, Xxxx Township, Will County, 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 Shorewood. 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 Forth Worth, Xxxxxx County, Texas. The Property is legally described on Exhibit A attached to and made a part of this Agreement. As of the effective date of this Agreement, the General Partner, as the contract purchaser 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 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 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.