Donación Terreno Within 100 In Montgomery

• Category: Real Estate - Donations
• State: Multi-State
• County: Montgomery
• Control #: US-00207
• Format: Word; Rich Text

Description

The Donación Terreno Agreement is a formal contract between the City of Montgomery and property Owners intending to donate land for the development of a premium quality 18-hole golf course. Key features include detailed conditions precedent for the donation, which require the City's approval of the golf course design and layout. The Owners maintain the right to approve the specifics of the donated property, and the agreement stipulates that the donated lands should be exclusively used for recreational purposes related to the golf course. If conditions are not met within four months, the donation lapses. The City is mandated to engage a qualified developer for construction within set timelines. The Owners hold a right of first refusal should the property be sold, and the agreement contains a reverter clause ensuring the property returns to the Owners if the golf course is not maintained. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in real estate transactions, as it guides them in drafting, reviewing, and negotiating terms for property donations and public use agreements.