Common use of Sale or Transfer of Ownership Clause in Contracts

Sale or Transfer of Ownership. Prior to the sale or transfer of ownership of the Historic Property, the Owner is bound by this Agreement to provide a report to the City which outlines how all tax savings realized by Owner in connection with this Agreement were used to preserve, maintain, repair, restore and rehabilitate the Historic Property. The City shall review and approve the report administratively within twenty-one (21) days. If the City takes no action within that time, the report is deemed adequate.

Appears in 4 contracts

Samples: Historic Property Preservation Agreement, Historic Property Preservation Agreement, Historic Property Preservation Agreement

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Sale or Transfer of Ownership. Prior to the sale or transfer of ownership of the Historic PropertyStructure, the Owner is bound by this Agreement to provide a report to the City which outlines how all tax savings realized by Owner in connection with this Agreement were used to preserve, maintain, repair, restore and rehabilitate the Historic PropertyStructure. The City shall review and approve the report administratively within twenty-one (21) days. If the City takes no action within that time, the report is deemed adequate.

Appears in 1 contract

Samples: Historic Property Preservation Agreement

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