Mitigation Property definition
Examples of Mitigation Property in a sentence
Responsibility for compliance with the Seller’s permits as to mitigation on the Mitigation Property shall solely be the responsibility of Seller.
Neither Party shall record a copy of this Agreement nor any memorandum thereof in the real estate records of any county in which the Mitigation Property is located.
In addition, subject to availability, Owner agrees to allocate to Optionee additional Mitigation Property ("Additional Mitigation Property") necessary to mitigate such impacts of development of the Development Property in exchange for payment from Optionee to Owner, in Cash, of an amount equal to Ten Thousand Dollars ($10,000) per acre.
Additionally, nothing herein shall be deemed to restrict or otherwise prohibit Plum Creek from conveying fee title to all or any portion of the Mitigation Property pursuant to Paragraph 15.
Forestar agrees to use existing roads located upon the Mitigation Property, whenever reasonably possible, and shall repair any damage caused to such roads pursuant to the exercise of the rights granted herein, such repairs to be made to a standard not less than that which existed when such use commenced and in compliance with Best Management Practices of the State of Georgia (“BMPs) and the Sustainable Forestry Initiative of SFI, Inc.
Optionee acknowledges that Owner has the right to continue to market the Mitigation Property for allocation to other parties and that Owner makes no representations that any Additional Mitigation Property will be available to Optionee.
To the extent that Plum Creek completes a Property Sale at any time during the Option Term after Plum Creek’s receipt of a Mitigation Project Notice with respect to the portion of the Mitigation Property included within such Property Sale, then the Mitigation Property sold pursuant to such Property Sale shall be subject to the terms and conditions of this Agreement (provided that any assignment of this Agreement shall be subject to Paragraph 21(b)).
Seller covenants and agrees that it shall comply with all conditions and continuing requirements set forth in Seller’s permits from the SFWMD for the Mitigation Property.
Notwithstanding anything contained in this Agreement to the contrary, Plum Creek shall not be obligated to execute any Restrictive Covenant that eliminates or unreasonably limits Plum Creek’s access to those portions of the Mitigation Property not encumbered by the Restrictive Covenant.
Nothing contained herein shall be deemed to restrict or otherwise prohibit Plum Creek from submitting some or all of the Mitigation Property to the terms of the FLPA.