NCI PROPERTY Sample Clauses

NCI PROPERTY. (a) “NCI improvements” as used herein shall apply to all buildings and structures constructed by NCI for the purposes of this Agreement, as well as improvements to such buildings paid for by NCI. Such buildings, structures and improvements shall not be considered to be a part of the land, but shall be regarded and treated as the personal property of NCI. At the time of this Memorandum of Agreement there are no NCI improvements at either NCELC site or in the RLNRA. To qualify as a NCI improvement, said facility shall be constructed by NCI with funds other than those provided to the NCELC by the City and constructed upon or affixed to lands assigned to NCI with the prior written approval of NPS. NCI shall have legal title in NCI improvements. Ownership of the new improvements shall not be transfered without the approval of the NPS. NCI agrees and hereby grants to the NPS a right of first refusal, and the City a right of second refusal to acquire any or all major NCI improvements whether this agreement is still in effect or not; the intent of this sentence is to preserve the integrity of the facilities. Exercise of the City's second right shall not be subject to further NPS approval. If NPS or the City chooses to exercise its right, the value of the NCI improvements and full and just compensation to be paid for said improvements shall be determined as the fair market value of said NCI improvements. If this right is not exercised, and if the NPS determines that some other use consistent with NCELC objectives can be found for NCI improvements, NPS may authorize the sale of the NCI improvements to another party for the purpose of fulfilling that use with concurrence by the City.
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