Planned Development

Planned Development. Buyer's plans to construct 320 multi-family units on the Property. Seller and Buyer agree that the Planned Development will not consist of more than 340 multi-family units. To the extent that any owner's association or review committee approvals are required in connection with Purchaser's proposed development ("Approvals"), Buyer may prior to the expiration of the Inspection Period deliver any necessary preliminary plans or information to such parties in order to obtain such approvals (the... "Preliminary Plans") for the proposed improvements to be built by Buyer on the Property (the "Improvements"). Following delivery of the Preliminary Plans, Seller shall reasonably assist and cooperate with Buyer to cause such parties to either approve same or state the specific item(s) thereof which are disapproves and the reason(s) therefor. Purchaser's receipt of such Approvals shall be a condition to Closing, and Seller shall reasonably cooperate with Purchaser to assist in obtaining such Approvals View More