Common use of Dedication of the Property Clause in Contracts

Dedication of the Property. Subject to the conditions and on the terms set forth in this Agreement, at Closing, LVSC shall dedicate, grant and convey to the Authority, and the Authority shall accept from LVSC, fee simple title to the Land, together with all improvements and structures thereon, all rights, privileges, easements, access rights, tenements, hereditaments and appurtenances thereto and all of LVSC’s right, title and interest in and to all adjacent streets, alleys and rights-of-way, and any strips or gores between such real property and adjacent properties (collectively, the “Property”). Such Property shall be dedicated, granted and conveyed by LVSC to the Authority pursuant to a grant, bargain and sale deed in the form attached hereto as Exhibit C (the “Deed”), free of all Encumbrances, except for those permitted encumbrances set forth in Exhibit D attached hereto (collectively, the “Permitted Encumbrances”).