Common use of PROPERTY RIGHTS AND RESTRICTIONS ON SPECIAL COMMON PROPERTIES Clause in Contracts

PROPERTY RIGHTS AND RESTRICTIONS ON SPECIAL COMMON PROPERTIES. As provided above, Landlord reserves the right to set aside from time to time certain portions of the Land as Special Common Properties for the benefit of more than one (1) but no less than all Building Sites. In addition, the Tenants or Subtenants of any combination of Building Sites shall have the right with respect to their Building Sites to set aside from time to time certain portions thereof as Special Common Properties after first having the written approval of Landlord, Tenants or Subtenants, as the case may be, shall have the right to designate and determine (i) the nature, type and kind thereof; (ii) the entity which shall hold title thereto; (iii) the time when title will be conveyed; (iv) the parties who shall have a right and easement of enjoyment in and to the same; and (v) the basis for allocation of expenses by assessment for the installation, repair, maintenance and servicing of Improvements to be located on the Special Common Properties. The person or entity holding title to any Special Common Property shall have the right of assessment against the Building Site of any Tenant or Subtenant permitted to use such Special Common Properties in the same manner as Landlord is herein granted such rights with respect to the General Common Properties. Such assessments shall likewise constitute a lien against the Building Site of said Tenant or Subtenant permitted to use such Special Common Properties and shall become due and payable in all respects as provided in Section 7 hereof.

Appears in 4 contracts

Samples: Lease Agreement (Exagen Inc.), Lease Agreement (Exagen Inc.), Lease Agreement (Exagen Diagnostics Inc)

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