Finished Lot

Finished Lot. Means a legally conveyable lot designated for residential construction to which (a) the Final Subdivision Map has been approved by the applicable governing authority and recorded in the official records of the county and state or other governmental district where the Property is located, (b) utilities have been stubbed and utility services are available, (c) vehicle access is available to and from a publicly dedicated street, and (d) building permits for the construction of Units may be issued... without satisfaction of additional conditions, other than the payment of applicable permit fees. As used herein, "Finished Lots" means more than one Finished Lot. View More

Finished Lot. Shall mean a residential lot developed by the Company in accordance with the Pulte Contract, that certain Development Agreement by and between Pulte and Company executed as part of the Property Closing (the "Development Agreement"), this Agreement and all applicable restrictions, governmental requirements and Laws, and that has (i) a recorded plat that is acceptable to both Members with a copy of such recorded plat delivered to both Members, (ii) public sanitary sewer lines extended to a... boundary of the lot with taps installed, (iii) public potable water lines extended to a boundary of the lot with taps installed, (iv) installed stormwater drainage lines and related facilities required by applicable Laws to serve the lot, with all stormwater ponds and related facilities serving such lines and facilities completed, (v) installed curbs and paved streets serving the lot that are within a publicly dedicated right-of-way, (vi) conduits to accommodate underground electric lines sufficient to service the lot extended to a boundary of the lot with the applicable electric company having extended service to the lot, (vii) graded in accordance with lot grading and drainage plans previously approved by both Members and graded materially in accordance with the elevations required for each lot on such plans, (viii) not been determined to be within the "100 Year Flood Plane" and (ix) been compacted to not less than ninety five (95%) modified proctor, maximum density (AASHTO T-180) and otherwise to such standards as are applicable for the types of construction contemplated by each Member and (x) all other work necessary to allow development and the subsequent use by homeowners of the intended residential improvements on the lot completed in accordance with all Laws (including, but not limited to, the issuance of the applicable building permit and certificate of occupancy for such lot) and any recorded covenants. View More

Finished Lot. A fully developed finished single-family residential lot owned by Borrower which has been accepted by each of the City of San Antonio, Bexar County and any water district or other governing district for The Preserve at Indian Springs, and which is deemed by Lender to be a "finished" single-family residential lot