Common use of Termination by Grantor Clause in Contracts

Termination by Grantor. This Agreement, and the easement granted hereunder, may be terminated by Xxxxxxx, at any time, upon thirty (30) days’ written notice to City and receipt of the City’s written consent to terminate, upon Xxxxxxx’s showing of any of the following: (1) That the property is to be sold and the buyer requires removal of the easement as a condition of the purchase and sale; or (2) That the property is to be refinanced and the lender requires removal of the easement as a condition of the refinancing; or (3) That the property is to be substantially remodeled or altered in a way that precludes continued maintenance of the Mural; (4) That Grantor’s circumstances have materially changed and the continued existence of the easement or maintenance of the Mural substantially impedes Grantor’s reasonable use and enjoyment of the Property. City shall not unreasonably withhold consent to termination upon Xxxxxxx’s satisfactory demonstration of any of the foregoing conditions of termination. Grantor expressly agrees and warrants that if Grantor terminates this Agreement, Grantor shall be responsible for removing the Mural and restoring the Property to its prior condition, at Grantor’s sole expense. Such removal and restoration shall occur within thirty (30) days of the termination of the easement, unless this period is extended in writing by the City.

Termination by Grantor. This Agreement, and the easement granted hereunder, may be terminated by Xxxxxxx, at any time, upon thirty (30) days’ written notice to City and Memorandum of Agreement between City and Meridian Library District for Design and Installation of Mural Page 1 receipt of the City’s written consent to terminate, upon Xxxxxxx’s showing of any of the following: (1) That the property is to be sold and the buyer requires removal of the easement as a condition of the purchase and sale; or (2) That the property is to be refinanced and the lender requires removal of the easement as a condition of the refinancing; or (3) That the property is to be substantially remodeled or altered in a way that precludes continued maintenance of the Mural; (4) That Grantor’s circumstances have materially changed and the continued existence of the easement or maintenance of the Mural substantially impedes Grantor’s reasonable use and enjoyment of the Property. City shall not unreasonably withhold consent to termination upon Xxxxxxx’s satisfactory demonstration of any of the foregoing conditions of termination. Grantor expressly agrees and warrants that if Grantor terminates this Agreement, Grantor shall be responsible for removing the Mural and restoring the Property to its prior condition, at Grantor’s sole expense. Such removal and restoration shall occur within thirty (30) days of the termination of the easement, unless this period is extended in writing by the City.

Termination by Grantor. This Agreement, and the easement granted hereunder, may be terminated by Xxxxxxx, at any time, upon thirty (30) days’ written notice to City and receipt of the City’s written consent to terminate, upon Xxxxxxx’s showing of any of the following: (1) That the property is to be sold and the buyer requires removal of the easement as a condition of the purchase and sale; or (2) That the property is to be refinanced and the lender requires removal of the easement as a condition of the refinancing; or (3) That the property is to be substantially remodeled or altered in a way that precludes continued maintenance of the Mural; (4) That Grantor’s circumstances have materially changed and the continued existence of the easement or maintenance of the Mural substantially impedes Grantor’s reasonable use and enjoyment of the Property. City shall not unreasonably withhold consent to termination upon Xxxxxxx’s satisfactory demonstration of any of the foregoing conditions of termination. Grantor expressly agrees and warrants that if Grantor terminates this Agreement, Grantor shall be responsible for removing the Mural and restoring the Property to its prior condition, at Grantor’s sole expense. Such removal and restoration shall occur within thirty (30) days of the termination of the easement, easement unless this period is extended in writing by the City. Grantor further expressly agrees and warrants that if Grantor terminates this Agreement prior to the expiration of the Agreement term set forth herein, Grantor shall donate to City one thousand dollars ($1,000) for each year remaining of the term, which amount City may utilize toward the installation of a public art mural at a different location.