Finished Lot definition
Finished Lot means a fully developed finished single-family residential lot owned by Borrower which is deemed by Lender to be a “finished” single-family residential lot and has been accepted by each of the city in which such Lot is located, and each municipal district, municipality, water district, municipal utility district, public improvement district or other Governmental Authority for ▇▇▇▇▇▇ County, Texas.
Finished Lot means Entitled Land owned by a member of the Consolidated Group (a) with respect to which development has been completed to such an extent that permits to allow use and construction (other than building permits and the payment of fees that are required to be paid at or near the time of start of construction), including building, sanitary sewer and water, are entitled to be obtained for a Housing Unit on such Entitled Land, and (b) with respect to which start of construction has not occurred.
Finished Lot means lots of Land Held for Future Development/Disposition as to which (a) a final subdivision map or the equivalent (such as site condominium documents) has been recorded or filed; (b) all major off-site construction and infrastructure necessary to permit construction of Housing Units has been completed to local governmental requirements; (c) utilities have been installed to local government requirements; and (d) building permits may be issued and construction commenced without the satisfaction of any further material conditions.
Examples of Finished Lot in a sentence
In no event shall the Seller be liable to Purchaser for any delay or costs or damages incurred by Purchaser with respect to such Overex, even if caused by any delay in installation of Finished Lot Improvements sequenced ahead of the Overex.
Notwithstanding the foregoing, if dry utilities have not been installed upon Substantial Completion of the Finished Lot Improvements, Seller shall be obligated to have contracted for same and paid all costs and fees payable for such installation.
Each Housing Unit and each Finished Lot included in Borrowing Base Availability is eligible to be included therein pursuant to the requirements of this Agreement.
The parties shall reasonably cooperate in coordinating Purchaser’s completion of the Overex so that the Overex can be properly sequenced with Seller’s completion of the Finished Lot Improvements.
Seller warrants (“Non-Government Warranty”) to Purchaser that each Finished Lot Improvement, other than the Public Improvements, shall have been constructed in accordance with the CDs for one (1) year from the date of Substantial Completion of the Improvement (the “Non-Government Warranty Period”).
More Definitions of Finished Lot
Finished Lot means an individual Lot as designated on a subdivision plat or map (whether preliminary or final), with respect to which (a) the Lot Improvements are finished or substantially finished and (b) there are no other unsatisfied Requirements in effect to obtain building permits for the construction of Units on such Lot.
Finished Lot means a parcel of Entitled Land which satisfies the requirements for Land Under Development and in which the owner (including any prior owner) thereof has invested 85% or more of the cost to complete the Improvements thereon, and which constitutes a valid, legally subdivided lot within the meanings of the applicable laws of the states, county and/or municipality within which it is located, and other requirements governing the subdivision of land and constitutes a lot reflected on a duly recorded plat, subdivision map or parcel map in compliance with the requirements of all applicable laws and other requirements governing the subdivision of land and approved by the appropriate Governmental Authority.
Finished Lot means an entire unimproved but fully developed and platted single family residential lot.
Finished Lot means one which has been prepared in accordance with the subdivision requirements set forth in Chapter 59 and is ready for the construction of a dwelling unit without major additional on-site, off-site, or public space preparation or where a bond has been provided indemnifying against the Applicant’s failure to complete the public improvements.
Finished Lot means an unimproved (but fully developed) single-family residential lot located in an Approved Subdivision having all necessary improvements, being eligible for a housing building permit, and as to which the development work has been completed.
Finished Lot means a parcel of Entitled Land which satisfies the requirements for Land Under Development and which the owner thereof has invested not less than 85% of the cost to complete the Improvements thereon, and which; in Florida, is a Lot described within a final recorded subdivision plat or agreement in lieu of plat; in California is a Lot reflected on a duly recorded final subdivision map or a parcel reflected on a duly recorded parcel map and is subject to a final public subdivision report, if required, duly, validly and unconditionally issued by the California Department of Real Estate pursuant to and in accordance with the Subdivided Lands Act, Business and Professions Code Section 11018.2; in Arizona, is a Lot described in a final public subdivision report duly, validly and unconditionally issued with the Arizona Department of Real Estate pursuant to and in accordance with Arizona Revised Statute Section 32-2181 et seq.; and, in Texas, is a Lot which constitutes a valid, legally subdivided Lot within the meanings of the applicable laws of Texas, the County and/or the City within which it is located, and other requirements governing the subdivision of land and constitutes a Lot reflected on a duly recorded plat or delineated representation of the subdivision of lands, being a complete and exact representation of the subdivision and other conformation in compliance with the requirements of all applicable sections of VTCA Local Government Code Section 212, all the applicable local ordinances and other requirements governing the subdivision of land and approved by the appropriate Governmental Authority.
Finished Lot means a legally subdivided lot with utilities stubbed out to the property line of said Lot.