The aforesaid public sale at auction by sealed bid of the above property shall be subject to the following terms and conditions: 1. All lots are conveyed subject to existing tenancies, encumbrances, liens, zoning regulations, easements, other restrictions, such facts as an accurate survey would reveal, and any present or future assessments for the construction of improvements benefiting said property. 2. The successful bidder shall be required to conform to and develop the property in accordance with Ordinance 25-3357 - Morris Broad Crossroads Zone District. 3. The successful bidder shall be required to obtain development approval for the property within 24 months. If the property has not obtained development approval within 24 months, the property will revert to the City. 4. The successful bidder may not assign the contract to purchase sale parcel without the prior written consent and approval of the City of Summit which may be withheld at the City’s sole discretion. 5. Real estate taxes, water and sewer charges shall be adjusted/pro-rated as of the date of closing.
