Development Site definition
Examples of Development Site in a sentence
Reconstruction of the improvements must be commenced within six months of the destruction or damage, and substantially completed within one year from the same and with said construction to be a similar, non-tax exempt facility on the Development Site.
Construction costs to be paid by DEVELOPER include but are not limited to the building, clearing, excavating, paving, and landscaping, all on the Development Site.
DEVELOPER shall maintain insurance on the improvements on the Development Site in an amount not less than the full replacement value for fire, casualty, and external damage coverage, naming the City as an additional insured on all equipments utilitzed as security for funding under this or successor agreements.
Should DEVELOPER sell, transfer, or convey the Development Site for the term of this Agreement, DEVELOPER’S obligations shall be released and discharged only upon approval by the CITY of the buyer, transferee, and grantee as substitute grantor.
In addition to any other limitation on assignment or sale of the Development Site or any portion thereof and prior to termination of this Agreement, if DEVELOPER intends to sell, transfer, or convey the Development Site to any person or entity in any manner or in any manner which would render the Development Site exempt from property taxation, then DEVELOPER shall obtain the express written consent of the CITY for such sale, transfer, or conveyance.