Development Agreement with John Wieland Homes and ...

“Environmental Laws” will mean all statutes specifically described in the definition of “Hazardous
Materials” below and all other federal, state, and local environmental health and safety statutes, ordinances, codes,
rules, regulations, orders and decrees regulating, relating to or imposing liability or standards concerning or in
connection with Hazardous Materials.
“Existing Road Network” will mean the road beds, gutters and curbs, from curb to curb as they exist at the
Property as of the Contract Date.
“Final Closing” will mean the Closing of the sale of the last of the Property to Buyer.
“Final Plat” will mean a final plat of the portion of the Sixteen Acre Parcel to be sold to Buyer pursuant to
this Agreement substantially in accordance with the Land Plans.
“First Closing” will have the meaning given to it in Section 3 below, and the lots to be conveyed to Buyer
will be those identified in writing by Buyer not less than five (5) days prior to the scheduled date of this Closing.
“First Closing Date” will have the meaning given to it in Section 3 below.
“Force Majeure” will mean any event (including, without limitation, a Legal Requirement enacted,
promulgated or issued after the Contract Date) the occurrence of which prevents or delays the performance by
either Party of any obligation imposed upon it hereunder and is not such Party’s fault (financial inability excepted),
and the prevention or cessation of which event is beyond the reasonable control of the applicable Party, but
excluding in any and all events the payment of money.
“Governmental Authority” will mean any federal, state, county, municipal or other government or any
governmental or quasi-governmental subdivision, agency, department, commission, board, bureau, court, office or
instrumentality or any of them.
“Hazardous Materials” will mean any substance, material, waste, gas or particular matter which is
regulated by any local governmental authority, the State of Georgia, or the United States Government, including,
but not limited to, (i) petroleum, (ii) asbestos, (iii) polychlorinated biphenyl, (iv) radioactive material, or (v) any
“hazardous waste,” “hazardous material,” “hazardous substance,” “extremely hazardous waste,” or “restricted
hazardous waste” under any provision of Georgia or United States law, including, without limitation, (a) the
Federal Water Pollution Control Act (the Clean Water Act), 33 U.S.C. §1251 et seq., (b) the Resource Conservation
and Recovery Act, 42 U.S.C. §6901 et seq., (c) the Comprehensive Environmental Response, Compensation and
Liability Act, 42 U.S.C. §9601 et seq., or (d) the Hazardous Materials Transportation Act, 49 U.S.C. § 1801 et seq.,
or any other substances or materials which are now or hereafter categorized as hazardous or toxic under any local,
state or federal law, statute, ordinance, rule or regulation pertaining to environmental or substance regulation,
contamination, cleanup or disclosure.
“Immediately Available Funds” will mean funds paid by either (i) cashier’s check or certified check
drawn on a national banking association acceptable to Seller, or (ii) wire transfer of immediately available federal
funds.
“Initial Term” will have the meaning given to it in Section 4 below.
“Key Roads” will mean the roads identified as such on the Land Plans.
“Land” will have the meaning given to it above. For avoidance of doubt, this term does not include all of
the land described in Exhibit “C” but only the portions indicated as such to be sold to Buyer. Once metes and
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