Easement Term. For purposes of this Agreement “Easement Term” shall mean the period from the date hereof until the soonest to occur of: (a) the expiration or sooner termination of the Ground Lease; (b) the sooner to occur of (i) City failing to build a Recreation Center on the Recreation Center Site within two (2) years of the date of this Agreement or, if the City causes one to be built but fails to operate the same or any other improvements thereon primarily as a recreational facility open to the general public for a period of twelve (12) consecutive months (exclusive of up to six (6) months following a casualty event affecting a substantial portion of any such Recreation Center); or (c) the execution by the parties hereto or their respective successors and assigns and recording in the office of the Register of Deeds of Xxxxxxx County, Kansas of an agreement terminating this Agreement. Once the Easement Term has expired under the preceding sentence any party to this Agreement may execute and record a notice that the Easement Term has expired and thereafter this Agreement will have no further force or effect.
Appears in 7 contracts
Samples: Development Agreement, Mutual Non Exclusive Access and Parking Easement Agreement, Development Agreement
