Exchange Parcel definition
Examples of Exchange Parcel in a sentence
Once the Applicant and the City exchange the Applicant Exchange Parcel and the City Exchange Parcel, the legal description of the Property will be as set forth in Exhibit “A-2” attached hereto and incorporated herein by this reference.
Within a year after the Applicant begins development of the Property, the Applicant will commence the design, permitting and construction of improvements on the Applicant Exchange Parcel (which will then be owned by the City) as part of the ▇▇▇▇▇▇▇▇▇ Regional Park.
The Seller shall be unconditionally obligated to accept any Exchange Parcel acquired by the Purchaser pursuant to the terms of this Agreement.
SNA acknowledges that the transfer of the Exchange Parcel does not comply with the subdivision requirements set forth Colorado Revised Statutes ▇▇-▇▇-▇▇▇, et.
The redevelopment that will occur within and upon the Mall at Shelter Cove Tract, including the Exchange Parcel, as exemplified in the Concept Plan.
At the time of any Exchange Closing, title to the applicable Exchange Parcel shall be conveyed directly to the Seller as the nominee and designee of the Purchaser and the Seller shall accept such title as shall be conveyed thereunder; it being expressly understood and agreed that the Purchaser makes no representations, warranties or covenants with respect to such title, the satisfaction of any conditions precedent under any Exchange Contract or any other matter in regard or pertaining thereto.
The deed for the Exchange Parcel shall reserve unto the owner of the 1515 Property and its successors and assigns a perpetual, non-exclusive utility easement for installation and maintenance of utilities serving the 1515 Property and shall be delivered to SNA within 3 business days of the approval and execution of this Agreement by the Authority or 3 days following any required land use approvals from the Colorado Springs Office of City Planning, if applicable.
In connection with the consummation of any Exchange Closing, the Purchaser shall direct that all or any portion of the Allocable Purchase Price of the applicable Exchange Property equal to the Exchange Value be applied to the acquisition of the applicable Exchange Parcel or held in escrow by the Title Company for such purpose pursuant to Section 12.13 (each such designated amount, an "Exchange Property Credit").
If required in connection with SNA’s planned use of the Exchange Parcel, SNA shall pay all costs associated with re-platting the Exchange Parcel in such a manner to comply with any city, county, or state rules and regulations regarding the subdivision of real property.
As consideration for SNA entering into this assignment, Ivywild shall cause ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇, LLC, a Colorado limited liability company, a related entity, to transfer, by quit claim deed in form acceptable to SNA, to SNA or a related party designated by SNA, the Exchange Parcel, which Exchange Parcel is a small portion of the property located at ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ and designated as Tax Schedule No. 6419308022 (“1515 Property”).