Purpose of Memorandum. The purpose of this Memorandum is to provide notice to all persons or entities who may hereafter acquire an interest in the Property that Optionee has a prior right and interest in and to the Property and that any such later acquired interest shall be subordinate to Optionee’s rights under the Option Agreement and shall be terminated upon Optionee’s acquisition of the Property pursuant to the Option Agreement.
Appears in 4 contracts
Samples: Assignment and Assumption Agreement (City Ventures, Inc.), Assignment and Assumption Agreement (City Ventures, Inc.), Assignment and Assumption Agreement (City Ventures, Inc.)
