This is a paragraph that sets out the Agreement that will be in force should some of the lands covered in the original Agreement no longer be subject to the Agreement, due to the lands being acquired by one or more Parties.
Exclusion from the operating agreement can affect property values positively or negatively, depending on how the land can be used and its appeal to future buyers or developers.
You can seek advice from legal professionals or local authorities to understand your options and possibly challenge the exclusion if you believe it was an error.
It depends on local laws and regulations. While excluded lands might be less regulated, it’s always a good idea to check with local authorities first to be safe.
Yes, excluding land from the operating agreement can provide more freedom in how it is used, allowing for different development or management options that might not be permissible under the strict rules of the agreement.
Lands were often excluded due to various historical, legal, or environmental reasons, which might have been determined during the drafting of the agreements before 1989.
You can check land records or contact local authorities to see if a specific piece of land is included in the operating agreement or if it falls under the excluded category.
When land is excluded from the operating agreement, it means that certain areas are not covered by the rules and guidelines set out in previous agreements made before 1989. This can lead to different rules applying to those lands.