Donation of the Property. Upon the terms, covenants and conditions herein set forth, Xxxxx agrees to donate to Donee the Property and all improvements located thereon, and Xxxxx agrees to accept the donation of the Property from Donor.
Donation of the Property. On or before the Closing Date, as hereinafter defined, Donor shall donate the Property to Donee and Donee shall accept such donation of the Property, all upon the terms and conditions set forth herein, together with all the rights and appurtenances pertaining thereto, including any right, title and interest of Donor in and to adjacent streets, roads, alleys and rights-of-way; provided, however, that Donee, its successors and/or assigns, shall maintain the existing stormwater pond (the “Pond”) on the Property and allow Donor to discharge runoff from the property immediately adjacent to the Property (the “Adjacent Property”), as more particularly described in Exhibit “B” attached hereto and incorporated herein, into the Pond in an amount comparable to that discharged from the Adjacent Property into the Pond prior to the transfer (the “Restriction”), which amount of discharge from the Adjacent Property shall be determined by Donee, subject to concurrence and agreement by the Donor, both using their good faith efforts. In the event that the Property is no longer used by Donee, its successors and/or assigns in accordance with the Restriction, the Property shall upon Xxxxx’s request revert back to Donor. The Property shall be conveyed to Donee free from all mortgages, deeds of trust, liens, security interests and other financial encumbrances.
Donation of the Property. Upon the terms, covenants, and conditions herein set forth, City agrees to donate to County the “Property” and County agrees to accept the donation of the “Property” from City.
Donation of the Property. The parties intend for the transfer of the Property to qualify as a donation by Xxxxxxxxx to the County, and Xxxxxxxxx shall receive no consideration in the form of money or property. Notwithstanding the foregoing, the parties hereby expressly agree that the value of the Property for federal and state tax purposes and financial accounting purposes shall be determined by an appraisal to be performed by a qualified appraiser selected by the County and approved by Xxxxxxxxx (the “Appraiser”), with such approval not to be unreasonably withheld or delayed. The County shall be responsible for and shall pay all costs of obtaining the appraisal and shall provide a copy to Xxxxxxxxx at no cost or expense. CONVEYANCE OF XXXXXX ROAD EXTENSION ROW
Donation of the Property. The parties intend for the transfer of the Property to qualify as a donation by Senninger to the County, and Senninger shall receive no consideration in the form of money or property. Notwithstanding the foregoing, the parties hereby expressly agree that the value of the Property for federal and state tax purposes and financial accounting purposes shall be determined by an appraisal to be performed by a qualified appraiser selected by the County and approved by Senninger (the “Appraiser”), with such approval not to be unreasonably withheld or delayed. The County shall be responsible for and shall pay all costs of obtaining the appraisal and shall provide a copy to Senninger at no cost or expense. CONVEYANCE OF XXXXXX ROAD EXTENSION ROW
