If performance of an offer or agreement to sell, lease, or otherwise transfer a lot, tract or parcel of land, following preliminary plat approval but prior to final plat approval, is expressly conditioned on the recording of the final plat containing the lot, tract or parcel under this chapter, the offer or agreement does not violate any provision of this chapter. All payments on account of an offer or agreement conditioned as provided in this section shall be deposited in an escrow or other regulated trust account and no disbursement to sellers shall be permitted until the final plat is recorded. (Ord. 6239 § 1, 2009; Ord. 5140 § 1, 1998; Ord. 4840 § 1, 1996; Ord. 4296 § 2, 1988.)
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