[Adopted 9-4-2003 by Ord. No. 495]
A mortgage subdivision, for the purpose of granting
separate and distinct mortgages on each parcel formed by said subdivision,
shall be lawful even though each lot does not individually meet the
required yard setbacks, ground cover limitations and other bulk and
area requirements of the zoning district in which the property is
situate, provided that:
A.Â
The application for development plan approval proposes
more than one building on a lot.
B.Â
The entire parcel to be used in common by two or more
of the buildings complies with the lot area, building coverage, setback,
sewage disposal or other utilities, off-street parking, green area
and frontage requirements of applicable Township ordinances.
C.Â
Documentary evidence shall be filed with the Township,
in form satisfactory to the Township:
(1)Â
Assigning responsibility for the construction, control,
maintenance of the facilities and areas to be used in common.
(2)Â
Containing irrevocable cross-easements in favor of
all parcels within the area of the plan as respects the use, control
and maintenance of the facilities and areas to be used in common so
that each of the subdivided lots becomes an integral part of the entire
parcel.
(3)Â
Declaring that the interest of any mortgagee and that
of any transferee of the mortgaged property upon the default on any
mortgage shall be subject to the requirements of the plan, the obligations
and responsibilities as to the facilities and areas to be used in
common and the requirements of the cross easements so that such mortgagee
or transferee, in the event of such default and transfer of title
to the property, shall be bound thereby.
D.Â
In the event of a subdivision for mortgage purposes, the entire area included within the plan shall continue to be treated by the Township as a single parcel for purposes of maintaining compliance with the requirements of the provisions of this chapter or Chapter 143 of the Code of Lower Providence Township, the Zoning Ordinance.
