Common use of OWNERSHIP AND TRANSFER OF FACILITIES Clause in Contracts

OWNERSHIP AND TRANSFER OF FACILITIES. Section 4.1 Facilities to be Owned by the City; Conveyance of Land and Easements to City. Acceptable Title to all property on, in or over which each Facility to be acquired by the City will be located, shall be deeded over to the City by way of grant deed, or dedication of such property, or easement thereon, if such conveyance of interest is approved by the City as being a sufficient interest therein to permit the City to properly own, operate and maintain such Facility located therein, thereon or thereover, and to permit the Owner to perform its obligations as set forth in this Acquisition Agreement. The Owner agrees to assist the City in obtaining such documents as are required to obtain Acceptable Title. Completion of the transfer of title to land shall be accomplished prior to the payment of the Purchase Price for a Facility (or the last Discrete Component thereof) and shall be evidenced by recordation of the acceptance thereof by the City Council or the designee thereof.

OWNERSHIP AND TRANSFER OF FACILITIES. Section 4.1 6.01. Facilities to be Owned by the City; City – Conveyance of Land and Easements Acceptable Title to City. Acceptable Title to all property on, in or over which each Facility to be acquired owned by the City will be located, shall be deeded over transferred to the City by way of grant deedxxxx of sale, or dedication of such property, or easement thereon, if such conveyance of interest is approved by the City as being a sufficient interest therein to permit the City to properly own, operate and maintain such Facility located therein, thereon or thereover, and to permit the Owner Developer to perform its obligations as set forth in this Acquisition Agreement. The Owner Developer agrees to assist the City in obtaining such documents as are required to obtain Acceptable Title. Completion of the transfer of title to land shall be accomplished prior to the payment of the Purchase Price for a Facility (or the last Discrete Component thereof) and shall be evidenced by recordation of the acceptance thereof by the City Council or the designee thereof.