Parcel Ground Tenant or Owner definition
Parcel Ground Tenant or Owner means and refer to the record Tenant of any Parcel ground Lease, whether one or more persons or entities, to any Building Site which is subject to these Regulations and Restrictions; notwithstanding any applicable theory relating to mortgages, deeds of trust or other liens or encumbrances upon any such Building Site, “Parcel Ground Tenant” or “Owner” shall not include or refer to a leasehold mortgagee, beneficiary of a deed of trust, or lienholder unless and until such party has acquired title pursuant to foreclosure or any applicable procedure in lieu of foreclosure, nor shall “Parcel Ground Tenant” or “Owner” include or refer to a lessee or tenant under an occupancy lease;