Zoning Contingency. If the buyer needs permitting before purchasing the property. For example, the buyer needs to get approval to put a restaurant on the property before it can purchase. The buyer may enter any type of contingency to accommodate their needs and with the consent of the seller. Environmental Contingency – More common for retail properties, soil and environmental testing will need to be completed (known as a “Phase 1 Environmental Assessment”). Step 5 – The Closing The closing is when the parties meet and the financial transaction is completed. This is commonly done at a lawyer’s office or title company that handles the required documents and verifies the funds have been sent and received while administering the new deed. If there are any real estate agents, they will be owed their commission as written in their listing agreement. After the closing, the seller will have been paid-in-full, with the buyer receiving the title that will be filed by the buyer or handed off to their attorney to be filed with the Registry of Deeds. Environmental Contingency – More common for retail properties, soil and environmental testing will need to be completed (known as a “Phase 1 Environmental Assessment”).
Zoning Contingency. This Agreement is subject to Purchaser obtaining all zoning approvals and other approvals, including the issuance of building permit from all government agencies having jurisdiction to construct the improvements substantially incompliance with the Cash Equivalency Consideration and the Project as defined in Section 1(b) above. Purchaser agrees to make application for said Xxxxxx Approvals within sixty (60) days after expiration of the Due Diligence Contingency. The acceptability of such approvals and conditions shall be in the sole discretion of the Purchaser. In the event Purchaser has not received all such approvals and permits necessary for construction of the improvements with the expiration of all appeal periods one hundred and twenty (120) days after filing of applications, Purchaser may terminate this Agreement with the Seller returning the Cash Deposit to Purchaser and the parties release of all liability each to the other hereafter and this Agreement shall be null and void. Seller agrees to be co-applicant with the Purchaser on all applications contemplated herein and to suppress said applications. Under no circumstances shall Seller reimburse Purchaser for its Due Diligence, Financing or Zoning Approval expenses Purchaser shall have the right to extend the Zoning Contingency until decisions have been rendered for all applications and all appeal periods have lapsed.
Zoning Contingency. Buyer shall until the Feasibility Expiration Date the following date: (the “Zoning Deadline”) to obtain the necessary zoning and land use permits and approvals for Buyer’s intended use of the Property, in Buyer’s sole discretion (the “Permits”). Buyer shall have the right to terminate this Agreement on or prior to 5:00 pm, Property-local time on the Zoning Deadline in the event Buyer is unable to obtain such Permits, in which event Buyer shall receive a full refund of any Deposit.
Zoning Contingency. The Company, at its sole expense, shall have until October 1, 2014 (the “Zoning Contingency Period”) to obtain from the City of Dublin or any other applicable zoning, building or engineering department, commission or board, zoning changes and/or approvals reasonably satisfactory to the Company to allow the Company to use the Company Property for its headquarters. If delays in obtaining satisfactory approval are not caused by any fault of the Company, but are caused by events or factors beyond the reasonable control of the Company, the Company shall be entitled to four (4) additional thirty (30) day extensions of the Zoning Contingency Period by providing, in each case, written notice to the City that the Company requires such extension(s) on or before the expiration of the Zoning Contingency Period or applicable extension thereof, and providing the City with evidence of the cause or causes of such delay. The City will cooperate with the Company in the completion of any application needed in order for the Company to seek zoning and building approval, but shall incur no expense in excess of the expense typically incurred by the City in processing and adjudicating similar zoning applications in connection with the Company’s efforts to seek and obtain approvals.
Zoning Contingency. 8.1.1 Seller understands that Purchaser desires to develop a mixed-use project consisting of a minimum of 10,000 square feet of retail floor space and multi-family residential apartment project and related amenities on the Property, consistent with Purchaser’s response to the request for proposals published by the City of Gainesville, (collectively, “Purchaser’s Proposed Project”), and that modification of the current zoning of the Property and a PUD amendment will be required in order to accommodate Purchaser’s Proposed Project. Accordingly, notwithstanding anything to the contrary provided in this Agreement, the obligations of Purchaser under this Agreement are expressly contingent upon and subject to the “Final Rezoning” of the Property (the “Zoning Contingency”). As used herein, Final Rezoning shall mean (i) the rezoning of the Property, subject only to conditions acceptable to Purchaser in Purchaser’s sole discretion, to a zoning designation that will allow Purchaser to develop Purchaser’s Proposed Project on the Property, (ii) the issuance of any other land use and zoning approvals, whether by variance (administrative or otherwise), special use permit, or otherwise, which are necessary for the development of Purchaser’s Proposed Project on the Property, including, without limitation, the issuance of the PUD amendment, and (iii) the expiration of any period during which an appeal to such rezoning or other approvals may be filed or, if any such appeal is filed, the final dismissal or resolution of such appeal in favor of Purchaser’s Proposed Project. Seller shall apply for the aforesaid rezoning within ninety (90) days after the Effective Date, and shall diligently and in good faith pursue the rezoning of the Property in accordance with the foregoing terms. Purchaser shall approve such rezoning application and any materials submitted to governmental authorities in connection with obtaining the Final Rezoning, and Seller shall permit Purchaser to participate in the rezoning process. Purchaser shall have the right to have a representative present at all hearings, meetings or proceedings held in connection with obtaining the Final Rezoning.
8.1.2 If Seller has not obtained Final Rezoning on or before the Zoning Contingency Date, Purchaser may elect either to (i) terminate this Agreement, in which event Purchaser shall be entitled to receive a refund of the Xxxxxxx Money (less One Hundred and No/100 Dollars ($100.00) which shall be disbursed to Seller by E...
Zoning Contingency. This Lease is specifically contingent upon Tenant obtaining all required approvals (the “Approvals”) from any local, regional, state or federal agency or authority having jurisdiction over the use, operation and construction by the Tenant of the Project, including all related Project activities, as described in Exhibit B, annexed hereto and made a part hereof. For the purposes of this Section, the Approvals shall include, without limitation, final and unappealable approvals and authorizations required for: (i) the construction and operation of the Project; (ii) all related Project permits; (iii) the Tenant to use the property for the Project; (iv) SEQR environmental review and approval; (v) any re-zoning required by the Town Board; (vi) wetlands and steep slope permits required by the Planning Board (if any); (vii) Town Board Site Plan review and approval; and (viii) all variances required by the Zoning Board of Appeals (if any). In the event that Tenant determines, in its sole reasonable discretion, that it will be unable to obtain the Approvals, or that it is not economically feasible to do so, Tenant shall be entitled to terminate this Lease on written notice to Landlord. Anything to the contrary herein notwithstanding, the issuance of a Certificate of Occupancy for the primary clubhouse and dome structures shall be conclusive evidence that Tenant’s ability to terminate this Lease under the terms of this Section 23 shall cease.
Zoning Contingency. This Lease is conditioned upon Tenant obtaining from the Town of Burlington a special permit that will allow ancillary research laboratory use by Tenant. Tenant agrees to promptly apply for and take all necessary steps to obtain such special permit from the Town of Burlington. Landlord, without obligating itself to incur any costs or expenses, shall assist and cooperate with Tenant with respect to obtaining such permit so far as Tenant reasonably requests. Tenant shall use diligence to obtain such permit on or before August 31, 2005 (the “Outside Date”). However, if Tenant, after having diligently prosecuted its application therefor, fails to obtain such special permit on or before the Outside Date and such failure is not due to the action or inaction of Tenant, then Tenant may elect to terminate the Lease by giving Landlord written notice of termination no later than three (3) business days after the Outside Date, such termination to be effective as of the date (the `Effective Termination Date”) specified by Tenant that is no more than ten (10) days after the date of Tenant’s election notice. If Tenant timely exercises its option to terminate this Lease, then (A) on or before the Effective Termination Date, Tenant shall vacate and yield up the Premises in accordance with the provisions of Section 6.1.9 hereof, and (B) notwithstanding anything to the contrary contained in this Lease, Tenant shall remove any and all leasehold improvements made by Tenant prior to the Effective Termination Date, and (C) on the Effective Termination Date, this Lease shall terminate without the need for any further documentation and the parties shall have no further accruing liability or obligation to each other. This provisions of the preceding sentence shall expressly survive the termination of this Lease.
Zoning Contingency. This Lease shall automatically terminate if the Zoning Contingency is not satisfied (See Section 3(B))
Zoning Contingency. This Agreement is contingent upon Buyer, at Xxxxx's expense, obtaining a variance or other zoning approval (the “Zoning Approval”) from the City of Erie Zoning Hearing Board (“ZHB”) permitting indoor storage at the Property. Buyer shall file an application with the ZHB within 5 business days of the Effective Date. In the event the Buyer is unable to obtain the Zoning Approval within 45 days of the Effective Date (the “Zoning Approval Period”), Buyer may terminate this Agreement without penalty by written notice to Seller. Buyer’s failure to terminate this Agreement by written notice to Seller prior to the expiration of the Zoning Approval Period shall be deemed a waiver of the zoning contingency.
Zoning Contingency. If the buyer needs permitting before purchasing the property.
