Effect of Agreement; Interest in Real Property. The Parties intend that this Agreement is given by FCRHA to AW4 as an option to lease a portion of the Autumn Property. The Parties intend that this Agreement creates a valid and present encumbrance on the Property in favor of AW4, effective as of the Effective Date, subject to any and all liens or encumbrances disclosed in the Land Records. Therefore, the Option will be deemed an encumbrance upon the Property during the term of this Agreement effective as of the Effective Date and will be binding upon and inure to the benefit of each of the Parties hereto and their respective successors and assigns (subject to Section 12.7 below).
Effect of Agreement; Interest in Real Property. The Parties intend that this Agreement is given by the FCRHA to LAC9-North as an option to lease the Ground Lease Premises. The Parties intend that this Agreement creates a valid and present encumbrance on the Ground Lease Premises in favor of LAC9-North, effective as of the Effective Date, subject to any and all liens or encumbrances disclosed in the Land Records. Therefore, the Option will be deemed an encumbrance upon the Ground Lease Premises during the term of this Agreement effective as of the Effective Date and will be binding upon and inure to the benefit of each of the Parties hereto and their respective successors and assigns (subject to Section 12.7 below).
Effect of Agreement; Interest in Real Property. The Parties intend that this Agreement is given by the FCRHA to One University as an option to lease the Ground Lease Premises. The Parties intend that this Agreement creates a valid and present encumbrance on the Ground Lease Premises in favor of One University, effective as of the Effective Date, subject to any and all liens or encumbrances disclosed in the Land Records. Therefore, the Option shall be deemed an encumbrance upon the Ground Lease Premises during the term of this Agreement effective as of the Effective Date and shall be binding upon and inure to the benefit of each of the Parties hereto and their respective successors and assigns (subject to Section11.7 below).
Effect of Agreement; Interest in Real Property. The Parties intend that this Agreement is given by FCRHA to APAH as an option to lease the Property. The Parties intend that this Agreement creates a valid and present encumbrance on the Property in favor of APAH, effective as of the Effective Date, subject to any and all liens or encumbrances disclosed in the Land Records. Therefore, the Option shall be deemed an encumbrance upon the Property during the term of this Agreement effective as of the Effective Date and shall be binding upon and inure to the benefit of each of the Parties hereto and their respective successors and assigns (subject to Section 12.7 below).
Effect of Agreement; Interest in Real Property. The Parties intend that this Agreement is given by the FCRHA to CHPPENN as an option to lease the Ground Lease Premises. The Parties intend that this Agreement creates a valid and present encumbrance on the Ground Lease Premises in favor of CHPPENN, effective as of the Effective Date, subject to any and all liens or encumbrances disclosed in the Official Records. Therefore, the Option shall be deemed an encumbrance upon the Ground Lease Premises during the term of this Agreement effective as of the Effective Date and shall be binding upon and inure to the benefit of each of the Parties hereto and their respective successors and assigns (subject to Section 10.7 below).
Effect of Agreement; Interest in Real Property. The parties intend that this Agreement is given by Owner to Optionee as an option to lease the Property. The parties intend that this Agreement creates a valid and present encumbrance on the Property in favor of Optionee, effective as of the Effective Date, subject to any and all liens or encumbrances disclosed in the Official Records. Therefore, the Option shall be deemed an encumbrance upon the Property during the term of this Agreement effective as of the Effective Date and shall be binding upon and inure to the benefit of each of the parties hereto and their respective successors and assigns (subject to Section 10.7 below).
Effect of Agreement; Interest in Real Property. The Parties intend that this Agreement is given by the FCRHA to Fairfax Properties as an option to lease the Ground Lease Premises. The Parties intend that this Agreement creates a valid and present encumbrance on the Ground Lease Premises in favor of Fairfax Properties, effective as of the Effective Date, subject to any and all liens or encumbrances disclosed in the Land Records. Therefore, the Option shall be deemed an encumbrance upon the Ground Lease Premises during the term of this Agreement effective as of the Effective Date and shall be binding upon and inure to the benefit of each of the Parties hereto and their respective successors and assigns (subject to Section11.7 below).
