Platted Parcel definition
Examples of Platted Parcel in a sentence
Buyer, at its sole cost and expense, within twenty (20) days after the resolution of all Objections (as hereinafter defined and as set forth below), shall initiate the proceedings to split the portion of the Property that is identified as Tax Parcel ID 06-04-06-000-011.000- 021 (the “Platted Parcel”) to both parties’ reasonable satisfaction and to split the Platted Parcel to create Area B and that portion of the Platted Parcel that comprises Area C.
Seller and Buyer agree to cooperate with each other to effectuate the split of the Platted Parcel if the parties mutually determine the Plat is not required, but some other action, consent, or agreement is required.
With respect to each Use Category and giving effect to the Indicated Use, no division may result in the apportioned Development Allocation on either the Remaining Portion Parcel or the Platted Parcel being (i) inconsistent with the applicable Circle C Zoning, or (ii) less than the Development Allocation required for then existing development and/or Fully Permitted Projects.
Buyer, at its sole cost and expense, shall effectuate a plat of the Platted Parcel (the “Plat”) prior to the Closings of Area B and Area C; provided, however, the parcel split and recordation of the Plat shall not be required if the parties mutually determine such split and recordation is not required to legally effectuate the conveyance of Area B to the Buyer.