St. Xxxx Street and Pine Street Sample Clauses

St. Xxxx Street and Pine Street. The Parties acknowledge that they have not yet agreed upon the nature of the real property interests required in St. Xxxx Street and in Pine Street that comprise elements of the Public Improvements and to be depicted on an amended Official Map. The Parties agree to negotiate in good faith to reach an agreement regarding this issue prior to determining the amount that the City will pay for the real property interests in St. Xxxx Street and Pine Street. The City shall acquire the real property interests in St. Xxxx Street and in Pine Street free and clear of all mortgages, security interests and liens and free and clear of all encumbrances that would preclude or impair the use thereof as public streets; provided that Owner shall be entitled to retain easement rights that would permit the construction of an aerial walkway over St. Xxxx Street, subject to Owner’s ability to obtain required permitting. The Parties agree to negotiate in good faith regarding certain matters concerning the transferred portions of St. Xxxx Street and Pine Street, including (1) the Owner’s ability to erect signage on and about pedestrian sidewalks; (2) the Owner’s ability to close the street on an expedited basis for events, fairs and promotions upon reasonable notice to the City; (3) a prohibition on vehicular parking along the transferred portions of St. Xxxx Street and Pine Street; (4) the Owner’s ability to relocate benches, trash cans and other similar items located along the street, as needed, to accommodate such events; and (5) the terms upon which Owner may reacquire the transferred portions of St. Xxxx Street and/or Pine Street if it ceases to be used as a public, vehicular right-of-way.
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St. Xxxx Street and Pine Street. The Parties acknowledge that they have not yet agreed upon the nature of the real property interests required in St. Xxxx Street and in Pine Street that comprise elements of the Public Improvements and to be depicted on an amended Official Map. The Parties agree to negotiate in good faith to reach an agreement regarding this issue prior to determining the amount that the City will pay for the real property interests in St. Xxxx Street and Pine Street. The City shall acquire the real property interests in St. Xxxx Street and in Pine Street free and clear of all mortgages, security interests and liens and free and clear of all encumbrances that would preclude or impair the use thereof as public streets. The Parties agree to negotiate in good faith regarding certain matters concerning the transferred portions of St. Xxxx Street and Pine Street, including (1) the Owner’s ability to erect signage on and about pedestrian sidewalks; (2) the Owner’s ability to close the street on an expedited basis for events, fairs and promotions upon reasonable notice to the City; (3) a prohibition on vehicular parking along the transferred portions of St. Xxxx Street and Pine Street; (4) the Owner’s ability to relocate benches, trash cans and other similar items located along the street, as needed, to accommodate such events; and (5) the terms upon which Owner may reacquire the transferred portions of St. Xxxx Street and/or Pine Street if it ceases to be used as a public, vehicular right-of-way.
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