Common use of Restriction on Sale, Transfer or Conveyance of Lots Clause in Contracts

Restriction on Sale, Transfer or Conveyance of Lots. In the event that the Public Improvements are not constructed to meet the Standards and Plans, and the required Security has expired, the Subdivider shall not sell, transfer, or convey any of the lots in the Subdivision until sufficient Security has been posted with the City for the completion of the construction and/or correction and repair of defects in materials or workmanship.

Restriction on Sale, Transfer or Conveyance of Lots. In the event that the Public Improvements are not constructed to meet the Standards and Plans, and the required Security has expired, the Subdivider Owner/Developer shall not sell, transfer, or convey any the Property, or and part or portion of the lots in the Subdivision Property, until sufficient Security has been posted with the City for the completion of the construction and/or correction and repair of defects in materials or workmanship.