Common use of RECIPROCAL EASEMENT AND OPERATION AGREEMENT Clause in Contracts

RECIPROCAL EASEMENT AND OPERATION AGREEMENT. Reference is made to paragraph 6 of the Response Letter (as defined in the First Amendment), wherein Seller recognizes the Item 8 Exception (as defined in the First Amendment). The parties agree that Buyer will have the right and option to cancel the Agreement upon written notice to Seller if Seller is unable to cure the Item 8 Exception to Buyer’s written satisfaction by August 3, 2012. Upon such cancellation, the Xxxxxxx Money Deposit shall be returned to Buyer and all rights and liabilities arising under the Agreement shall automatically terminate, with the exception of the obligations which expressly survive termination of the Agreement.

RECIPROCAL EASEMENT AND OPERATION AGREEMENT. Reference is made to paragraph 6 of the Response Letter (as defined in the First Amendment), wherein Seller recognizes the Item 8 Exception (as defined in the First Amendment). The parties agree that Buyer will have the right and option to cancel the Agreement upon written notice to Seller if Seller is unable to cure the Item 8 Exception to Buyer’s written satisfaction by August 3July 27, 2012. Upon such cancellation, the Xxxxxxx Money Deposit shall be returned to Buyer and all rights and liabilities arising under the Agreement shall automatically terminate, with the exception of the obligations which expressly survive termination of the Agreement.

RECIPROCAL EASEMENT AND OPERATION AGREEMENT. Reference is made to paragraph 6 of the Response Letter (as defined in the First Amendment), wherein Seller recognizes the Item 8 Exception (as defined in the First Amendment). The parties agree that Buyer will have the right and option to cancel the Agreement upon written notice to Seller if Seller is unable to cure the Item 8 Exception to Buyer’s written satisfaction by August 324, 2012. Upon such cancellation, the Xxxxxxx Money Deposit shall be returned to Buyer and all rights and liabilities arising under the Agreement shall automatically terminate, with the exception of the obligations which expressly survive termination of the Agreement.

RECIPROCAL EASEMENT AND OPERATION AGREEMENT. Reference is made to paragraph 6 of the Response Letter (as defined in the First Amendment), wherein Seller recognizes the Item 8 Exception (as defined in the First Amendment). The parties agree that Buyer will have the right and option to cancel the Agreement upon written notice to Seller if Seller is unable to cure the Item 8 Exception to Buyer’s written satisfaction by August 317, 2012. Upon such cancellation, the Xxxxxxx Money Deposit shall be returned to Buyer and all rights and liabilities arising under the Agreement shall automatically terminate, with the exception of the obligations which expressly survive termination of the Agreement.