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otherwise permitted by law, and which is occupied by or intended to be developed for and occupied by a principal building or group of such buildings and accessory buildings, or utilized for a principal use and uses accessory thereto, including such open spaces and yards as are designed and arranged or required by this ordinance for such building use or development. Lot Area The area of a horizontal plane bounded by the front, side or rear lot lines, but not including any area occupied by the waters of lakes or rivers or by street right -of -way. Lot, Corner A lot which has at least two (2) contiguous sides abutting upon a street. Lot Line The lines bounding a lot as herein described. Lot of Record A lot which is part of a subdivision or plat, an Auditor's Subdivision or a registered Land Survey or a parcel of land not so platted, which has been approved by the City or meets the following conditions: a. was a separate parcel of record April 1, 1945 or the date of adoption of subdivision regulations under Laws 1945, Chapter 287, whichever is later, or of the adoption of subdivision regulations pursuant to a home rule charter; b. was the subject of a written agreement to convey entered into prior to such time; c. was a separate parcel of not less than 2 -1/2 acres in area and 150 feet in width on January 1, 1966; d. was a separate parcel of not less than five acres in area and 30o feet in width on July 1, 198o; e. is a single parcel of commercial or industrial land of not less than five acres and having a width of not less than 3oo feet and its conveyance does not result in the division of the parcel into two or more lots or parcels, any one of which is less than five acres in area or 3oo feet in width; f. is a single parcel of residential or agricultural land of not less than 20 acres and having a width of not less than 500 feet and its conveyance does not result in 6