Subdivision improvements agreement definition

Subdivision improvements agreement means one or more security arrangements which a county shall accept to secure the actual cost of construction of such public improvements as are required by county subdivision regulations within the subdivision. The "subdivision improvements agreement" may include any one or a combination of the types of security or collateral listed in this subsection (11), and the subdivider may substitute security in order to release portions of the subdivision for sale. The types of collateral which may be used as security under the "subdivision improvements agreement" are as follows: Restrictions on the conveyance, sale, or transfer of any lot, lots, tract, or tracts of land within the subdivision as set forth on the plat or as recorded by separate instrument; performance or property bonds; private or public escrow agreements; loan commitments; assignments of receivables; liens on property; letters of credit; deposits of certified funds; or other similar surety agreements. Security, other than plat restrictions, required under the "subdivision improvements agreement" shall equal in value the cost of improvements to be completed but shall not be required on the portion of the subdivision subject to plat restriction. The county shall not require security arrangements with collateral arrangements in excess of the actual cost of construction of the public improvements. The amount of security may be incrementally reduced as subdivision improvements are completed.
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Subdivision improvements agreement is defined in Section 3.12. “Subsequent Approvals” is defined in Section 10.1.
Sample 1

Examples of Subdivision improvements agreement in a sentence

  • Subdivision improvements agreement (SIA) to construct any required public improvements shown in the final plat documents together with collateral that is sufficient, in the judgement of the Board, to make reasonable provision for the completion of said improvements in accordance with design and time specifications.

  • Additionally, the BOCC or any purchaser of any lot or parcel of land subject to a Plat restriction that is part of an approved Subdivision subject to a Subdivision improvements agreement, upon on the sale, conveyance, or transfer of title, shall have the authority to bring an action against a subdivider or agent of a subdivider to compel enforcement of the improvements agreement.

  • Most of the participants were between the ages of 22-24 years (82 or 80.4%).

  • It is agreed that these amounts represent the fair market value for the property.

  • Subdivision improvements agreement (SIA) to construct any required public improvements shown in the final plat documents together with collateral that is sufficient, in thejudgement of the Board, to make reasonable provision for the completion of said improvements in accordance with design and time specifications.

  • Subdivision improvements agreement and financial guaranty (bond, letter of credit, escrow agreement).

  • Subdivision improvements agreement required.For any subdivision for which public improvements are to be constructed (either on-site or off- site), no subdivision approval shall be granted by the Town unless and until a subdivision improvement agreement executed by the landowner, applicant and developer is completed and presented to the Board of Trustees for review and consideration.

  • Subdivision improvements agreement (SIA) is a contractual agreement between the Town and subdivider entered into in conjunction with approval of a plat.

  • Subdivision improvements agreement andfinancial guaranty (bond, letter of credit, escrow agreement).

  • Letter from Omega HomesOmega Homes Indian Mill Creek Subdivision improvements agreement expires on August 10, 2017.

Related to Subdivision improvements agreement

  • Development Agreement has the meaning set forth in the Recitals.

  • Licensee Improvements means improvements, variations, updates, modifications, and enhancements made and/or acquired at any time after the Start Date by the Licensee or any sublicensees of the Licensee relating to the Technology which cannot be legally used or practiced without infringing the Technology licensed under this Agreement, as well as all data generated by or on behalf of the Licensee in the course of the Technology Validation Project;

  • Joint Improvements means Improvements the inventors of which are jointly (a) employees of, or others obligated to assign inventions to, ImmunoGen or any Affiliate of ImmunoGen, and (b) employees of, or others obligated to assign inventions to, Lilly or any Affiliate of Lilly.