Summerland Hills and the MOA - Answers to Common Questions
Is the Memorandum of Understanding binding on the District of Summerland?
"This Memorandum of Understanding ("MOU") is not a contract and is not binding on the District of Summerland (the "District") or 3093467 Nova Scotia ULC ("Brandenburg/Agur"), but reflects the desire and wishes of both parties to study,explore, discuss, negotiate the development of a master planned destination golf resort community in the District of Summerland"
"Brandenburg/Agur and the District, by entering into the MOU, do not intend to exclude consideration of any matter not herein referred to, and fully intends in good faith to diligently proceed to work towards the realization of the Project so long as each remains satisfied of the desirability of the Project."
will the District Pay for Offsite Utility and Roadway Improvements?
"a commitment by the District to use its best efforts and resources to support the contemplated Project in several ways, including; (i) show its intent to participate in funding arrangements for offsite utility and offsite roadway improvements;"
If the Land is Sold to Brandenburg but the Project Does Not proceed, What Happens?
"such agreement may include a requirement that Brandenburg/Agur grant an option to the District to repurchase the District Land for the same purchase price should Brandenburg/Agur fail to proceed with the Project within 120 months"
"This Memorandum of Understanding ("MOU") is not a contract and is not binding on the District of Summerland (the "District") or 3093467 Nova Scotia ULC ("Brandenburg/Agur"), but reflects the desire and wishes of both parties to study,explore, discuss, negotiate the development of a master planned destination golf resort community in the District of Summerland"
"Brandenburg/Agur and the District, by entering into the MOU, do not intend to exclude consideration of any matter not herein referred to, and fully intends in good faith to diligently proceed to work towards the realization of the Project so long as each remains satisfied of the desirability of the Project."
will the District Pay for Offsite Utility and Roadway Improvements?
"a commitment by the District to use its best efforts and resources to support the contemplated Project in several ways, including; (i) show its intent to participate in funding arrangements for offsite utility and offsite roadway improvements;"
If the Land is Sold to Brandenburg but the Project Does Not proceed, What Happens?
"such agreement may include a requirement that Brandenburg/Agur grant an option to the District to repurchase the District Land for the same purchase price should Brandenburg/Agur fail to proceed with the Project within 120 months"
posted by tony cooke |
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