Common use of OBLIGATIONS RELATING TO REAL PROPERTY Clause in Contracts

OBLIGATIONS RELATING TO REAL PROPERTY. The Company intends to purchase real property at a location to be determined by the Board of Directors (the "Development") subject to the following, if applicable: (a) The agreement by the developer thereof to sell sufficient land on which to develop the Hospital for a purchase price or rent equal to the fair market value thereof as determined by a qualified independent real estate appraiser acceptable to MHMI, the Investor Members and the developer; (b) The developer shall record a restriction acceptable to the developer, MHMI, and the Investor Members prohibiting any Person from using any part of the Development for a purpose which, if conducted by a Member would violate Section 5.10 hereof; (c) The agreement will contain other commercially reasonable terms and conditions, including without limitation, terms obligating the developer to execute commercially reasonable documents required by third parties providing financing to the Company which will require among other things, a first priority lien on the Company's interest in the Development.

OBLIGATIONS RELATING TO REAL PROPERTY. The Company intends to purchase real property located at a location to be determined site approved by the Board of Directors (the "Development") subject to the following, if applicable: (a) The agreement by the developer thereof to sell sufficient land on which to develop the Hospital for a purchase price or rent equal to the fair market value thereof as determined by a qualified independent real estate appraiser acceptable to MHMILHMI, the Investor Members and the developer; (b) The developer shall record a restriction acceptable to the developer, MHMILHMI, and the Investor Members prohibiting any Person from using any part of the Development for a purpose which, if conducted by a Member would violate Section 5.10 hereof; (c) The agreement will contain other commercially reasonable terms and conditions, including without limitation, terms obligating the developer to execute commercially reasonable documents required by third parties providing financing to the Company which will require among other things, a first priority lien on the Company's interest in the DevelopmentProperty.