Common use of Rent Charge Clause in Contracts

Rent Charge. The Owner hereby grants to the City a perpetual rent charge against the Lands securing payment by the Owner to the City of the Default Costs or any amount payable by the Owner pursuant to section 5.2 or 5.3 of this Agreement. The Owner agrees that the City, at its option, may enforce payment of such outstanding amount in a court of competent jurisdiction as a contract debt, by an action for and order for sale, by proceedings for the appointment of a receiver, or in any other method available to the City at law or in equity. This rent charge is created both under section 219(6)(b) of the Land Title Act as an integral part of the statutory covenant created by this Agreement and as a fee simple rent charge at common law. Enforcement of this rent charge by the City does not limit, or prevent the City from enforcing, any other remedy or right the City may have again the Owner.

Rent Charge. The Owner hereby grants to the City a perpetual rent charge against the Lands securing payment by the Owner to the City of the Default Costs or any amount payable by the Owner pursuant to section 5.2 or 5.3 of this Agreement. The Owner agrees that the City, at its option, may enforce payment of such outstanding amount in a court of competent jurisdiction as a contract debt, by an action for and order for sale, by proceedings for the appointment of a receiver, or in any other method available to the City at law or in equity. This rent charge is created both under section 219(6)(b) of the Land Title Act as an integral part of the statutory covenant created by this Agreement and as a fee simple rent charge at common law. Enforcement of this rent charge by the City does not limit, or prevent the City from enforcing, any other remedy or right the City may have again the Owner.

Rent Charge. The Owner hereby grants to the City a perpetual rent charge against the Lands securing payment by the Owner to the City of the Default Costs or any amount payable by the Owner pursuant to section 5.2 or 5.3 of this Agreement. The Owner agrees that the City, at its option, may enforce payment of such outstanding amount in a court of competent jurisdiction as a contract debt, by an action for and order for sale, by proceedings for the appointment of a receiver, or in any other method available to the City at law or in equity. This rent charge is created both under section 219(6)(b205(2)(b) of the Land Title Act as an integral part of the statutory covenant created by this Agreement and as a fee simple rent charge at common law. Enforcement of this rent charge by the City does not limit, or prevent the City from enforcing, any other remedy or right the City may have again the Owner.