Improvements Constructed on Land not Owned by City Sample Clauses

Improvements Constructed on Land not Owned by City. As a condition to the payment of the Retained Increment of the Purchase Price, Owner shall cause an irrevocable offer of dedication to be made to City or an outright grant of a fee interest or easement interest as appropriate, in the sole discretion of the City of the appropriate right, title and interest in and to the portion of the applicable property owned by the Owner related to the applicable Improvement, including any temporary construction or access easements. Owner, whether or not it is the entity constructing the Improvements, agrees to execute and deliver to the City the documents required to complete the transfer of Acceptable Title for property owned by the Owner upon or within which such Improvements are to be located. For purposes of this Agreement, the term “Acceptable Title” shall mean title to the portion of the property to be conveyed free and clear of all taxes, liens, encumbrances, assessments, easements, leases, whether any such item is recorded or unrecorded, except (i) non-delinquent taxes and assessments and (ii) those non-monetary encumbrances and easements which are reasonably determined by the City not to interfere with the intended use of the portion of the property. As a further condition to the payment of the Retained Increment of the Purchase Price for any Improvement, Owner at its sole initial cost and expense, subject to reimbursement pursuant to Section 7, shall cause to be issued a policy of title insurance for such portion of the property in an amount not to exceed the Purchase Price and in the form normally required by City in connection with the dedication of land for subdivision improvements and containing such title endorsements as may be reasonably requested by City. City’s final acceptance of the portion of the property and the Improvements constructed thereon shall not be unreasonably withheld or delayed.