The Land Disposition Agreement Sample Clauses

The Land Disposition Agreement. The City and the Developer intend to execute the Land Disposition Agreement, consisting of a Buy/Sell Agreement, Deed, Promissory Note, Trust Indenture and an escrow agreement. Pursuant to the Buy/Sell Agreement, the Developer will purchase the Fox Site from the City for a purchase price of $2,300,000, which will be paid over time in accordance with the Promissory Note. The Promissory Note will bear interest at the applicable federal rate (AFR) in effect on the date that the Fox Site is conveyed to the Developer (the “Conveyance Date”), will mature on the fifteenth anniversary of the Conveyance Date, and will be subject to prepayment without penalty at any time and from time to time, in whole or in part, at the option of the Developer. Until the 5-year anniversary of the Conveyance Date, the Developer will make semiannual payments of interest only. On the 5-year anniversary of the Conveyance Date, the Developer will pay equal semi-annual payments of principal and interest sufficient to provide for the amortization of all principal and interest under the Promissory Note not later than the 15-year anniversary of the Conveyance Date. In exchange for the Promissory Note and the security provided by the Trust Indenture, the City will convey the Fox Site to the Developer by the Deed. The Developer currently intends to transfer to the City a portion of the Providence Site in the block bounded by Xxxx Xxxxxxxx, Xxxxxx Xxxxxx, Xxxx Xxxxx Xxxxxx and Xxxx Street to be developed as a parking structure. The actual conveyance of fee title to the undeveloped property would be subject to subsequent City Council approval. In the event the City Council approves the conveyance of such property by the Developer to the City while the Promissory Note is outstanding, the value of the transferred property, as determined by an appraisal to be conducted DISCUSSION DRAFT prior to transfer, with such value being subject to a maximum per square foot price or other valuation formula to be set forth in the Land Disposition Agreement, would be credited as a principal payment against the Promissory Note and the outstanding principal of the Promissory Note would then be reamortized at the AFR over the then-remaining term of such note in equal semi-annual installments of principal and interest. On the date all Collateral Agreements are executed, the Promissory Note, Trust Indenture and Deed will go into an escrow governed by the escrow agreement, to be released from escrow substantially sim...
Sample 1
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The Land Disposition Agreement. This agreement, which is titled the Agreement for the Purchase and Sale of Real Property (the “Buy/Sell Agreement”), has been drafted and presented to all parties. The Buy/Sell Agreement includes as exhibits the Deed, Promissory Note and Trust Indenture. Pursuant to the Buy/Sell Agreement, the Developer will purchase the Fox Site from the City for a purchase price of $2,300,000, which will be paid over time in accordance with the Promissory Note. The Promissory Note will bear interest at the applicable federal rate (AFR) in effect on the date that the Fox Site is conveyed to the Developer (the “Conveyance Date”), will mature on the fifteenth anniversary of the Conveyance Date, and will be subject to prepayment without penalty at any time and from time to time, in whole or in part, at the option of the Developer. Until the 5-year anniversary of the Conveyance Date, the Developer will make semiannual payments of interest only. On the 5-year anniversary of the Conveyance Date, the Developer will pay equal semi-annual payments of principal and interest sufficient to provide for the amortization of all principal and interest under the Promissory Note not later than the 15-year anniversary of the Conveyance Date. In exchange for the Promissory Note and the security provided by the Trust Indenture, the City will convey the Fox Site to the Developer by the Deed. The purchase price of the Fox Site would be subject to the following offsets or credits: First, in consideration of the Developer’s agreement to be solely responsible for and pay the costs of all non-routine maintenance, replacement and repair of the City Conference Center Unit under the Lease/Management Agreement, commencing at the time that fee title to the City Conference Center Unit and the Parking Facility are conveyed to the City, the purchase price of the Fox Site would be allocated proportionately among the various unit owners, and the portion of the purchase price allocated to the City’s condominium units would be applied as an offset to the purchase price of the Fox Site to be paid by the Developer. The allocation of the purchase price of the Fox Site would be based on the respective size of each unit, provided that not more than 40% of the purchase price would be allocated to the City’s condominium units. Second, the Developer currently intends to transfer to the City a portion of the Providence Site in the block bounded by West Broadway, Orange Street, West Front Street and Xxxx Street to be de...
Sample 1

Related to The Land Disposition Agreement

  • Retention and disposal 9.5.1. Information shared under this Agreement will be securely stored and disposed by secure means when no longer required for the purpose for which it is provided as per each parties’ Information Security Policy, unless otherwise agreed in a specific case, and legally permitted. Each party will determine and maintain their own retention schedule.

  • Land Acquisition and Involuntary Resettlement 3. The Borrower shall ensure or cause the Project Executing Agency to ensure that all land and all rights-of-way required for the Project are made available to the Works contractor in accordance with the schedule agreed under the related Works contract and all land acquisition and resettlement activities are implemented in compliance with (a) all applicable laws and regulations of the Borrower relating to land acquisition and involuntary resettlement; (b) the Involuntary Resettlement Safeguards; and (c) all measures and requirements set forth in the RP, and any corrective or preventative actions set forth in the Safeguards Monitoring Report.

  • Access To, Return, and Disposition of Data Upon written request of LEA, Operator shall dispose of or delete all Data obtained under the Service Agreement when it is no longer needed for the purpose for which it was obtained, and transfer said data to LEA or LEA’s designee within sixty (60) days of the date of termination and according to a schedule and procedure as the Parties may reasonably agree. Operator acknowledges LEA’s obligations regarding retention of governmental data, and shall not destroy Data except as permitted by LEA. Nothing in the Service Agreement shall authorize Operator to maintain Data obtained under the Service Agreement beyond the time period reasonably needed to complete the disposition. Disposition shall include (1) the shredding of any hard copies of any Data; (2) Data Destruction; or (3) Otherwise modifying the personal information in those records to make it unreadable or indecipherable. Operator shall provide written notification to LEA when the Data has been disposed of. The duty to dispose of Data shall not extend to data that has been de-identified or placed in a separate Student account, pursuant to the other terms of the DPA. The LEA may employ a “Request for Return or Deletion of Data” FORM, a sample of this form is attached on Exhibit “D”). Upon receipt of a request from the LEA, the Operator will immediately provide the LEA with any specified portion of the Data within five (5) business days of receipt of said request.

  • Real estate transactions You must sign the certification. You may cross out item 2 of the certification.

  • Disposition of Property Dispose of any of its property, whether now owned or hereafter acquired, or, in the case of any Subsidiary, issue or sell any shares of such Subsidiary’s Capital Stock to any Person, except:

  • Data Disposition When the contracted work has been completed or when the Data is no longer needed, except as noted above in Section 5.b, Data shall be returned to DSHS or destroyed. Media on which Data may be stored and associated acceptable methods of destruction are as follows: Data stored on: Will be destroyed by: Server or workstation hard disks, or Removable media (e.g. floppies, USB flash drives, portable hard disks) excluding optical discs Using a “wipe” utility which will overwrite the Data at least three (3) times using either random or single character data, or Degaussing sufficiently to ensure that the Data cannot be reconstructed, or Physically destroying the disk Paper documents with sensitive or Confidential Information Recycling through a contracted firm, provided the contract with the recycler assures that the confidentiality of Data will be protected. Paper documents containing Confidential Information requiring special handling (e.g. protected health information) On-site shredding, pulping, or incineration Optical discs (e.g. CDs or DVDs) Incineration, shredding, or completely defacing the readable surface with a coarse abrasive Magnetic tape Degaussing, incinerating or crosscut shredding

  • Acquisition of Property The Contractor shall document that all property was acquired consistent with its engineering, production planning, and property control operations.

  • OPERATION OF PROPERTY DURING AGREEMENT PERIOD The Seller will continue to operate the Property and any business conducted on the Property in the manner operated prior to the Agreement and will take no action that would adversely impact the Property, tenants, lender, or business, if any. Any changes, such as renting vacant space, that materially affects the Property or the Buyer's intended use will be permitted only with the Buyer's consent.

  • Schedule of Disposition Data shall be disposed of by the following date: As soon as commercially practicable. By

  • Final Disposition Notwithstanding any other provision in this Agreement, no determination as to entitlement to indemnification under this Agreement shall be required to be made prior to the final disposition of the Proceeding.

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