Santan Village - Parcel G-2

What Santan Village - Parcel G-2's governing documents say

This document is a commercial development agreement for a retail pad (Outparcel #2) within the SanTan Village shopping center in Gilbert, AZ. It governs the construction, use, and maintenance of the property, requiring it to operate as a Taco Bell / Long John Silvers or Taco Bell / KFC restaurant. The rules bind the property owner/developer, not individual homeowners or residents.

• Required use & operation: The property must be used as a Taco Bell / Long John Silvers or Taco Bell / KFC restaurant. The owner must open for business within one year of starting construction and operate continuously thereafter.
• Construction obligations & deadlines: The owner must commence construction within 210 days of acquiring the property and complete it within 300 days of commencement. The building cannot exceed 3,025 square feet or 30 feet in height (35 feet for architectural features).
• Parking requirements: The owner must provide at least 10 parking spaces per 1,000 square feet of gross building area, or the number required by the broader shopping center declarations, whichever is greater. Parking areas must be illuminated dusk to dawn.
• Building plan approval & design review: Before construction, the seller must approve the owner's survey, site plan, elevations, exterior materials/colors, landscaping, signage, grading/drainage, and setbacks. Approval may not be unreasonably withheld; if no response within 20 days, plans are deemed approved.
• Seller's right to repurchase: If the owner fails to start or complete construction on time, the seller (or its assignee) can repurchase the property at the original price (if failure to start) or fair market value (if failure to complete or open). This right expires if not exercised within stated deadlines.
• Term of agreement: The development agreement and its restrictions run with the land for 99 years from October 2006, unless terminated earlier (e.g., by repurchase).
• What this document doesn't cover: This document is an ancillary commercial development restriction. It does not address typical homeowner association rules (e.g., pets, leasing, assessments, common area use) or residential occupancy standards. Those matters would be governed by separate declarations for the overall shopping center.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.