Common use of CONDITIONS TO OBLIGATIONS OF PARK DISTRICT Clause in Contracts

CONDITIONS TO OBLIGATIONS OF PARK DISTRICT. The obligations of the Park District under this Agreement are expressly subject to the satisfaction of the following conditions within one year of the date of this Agreement, all to the satisfaction of the Park District, in its sole and absolute discretion: A. Inspections of the Savanna and surrounding property satisfactory to the Park District. B. The conveyance of the Savanna from the City to the Park District in such form as approved by the Park District. Such conveyance shall also include easements of access in favor of the Park District and the public, and such other terms as the Park District may deem necessary or desirable. C. Approval of the Authority’s Bylaws by all of the Parties. D. Execution and delivery of the Maintenance and Operating Agreement by the Park District and the Authority.

CONDITIONS TO OBLIGATIONS OF PARK DISTRICT. The obligations of the Park District under this Agreement are expressly subject to the satisfaction of the following conditions within one year of the date of this Agreement, all to the satisfaction of the Park District, in its sole and absolute discretion: A. Inspections of the Savanna and surrounding property satisfactory to the Park District. B. The conveyance of the Savanna from the City to the Park District in such form as approved by the Park District. Such conveyance shall also include easements of access in favor of the Park District and the public, and such other terms as the Park District may deem necessary or desirable. C. Approval of the Authority’s Bylaws by all of the Parties. D. Execution and delivery of the Maintenance and Operating Agreement by the Park District and the Authority. In the event the foregoing conditions are not met, the Park District may terminate this Agreement immediately, without penalty or payment of any kind.