Title to Leased Property Limitations on Encumbrances. Except for personal property purchased by the Board of Education at its own expense, title to the Leased Property and any and all additions and modifications to or replacements of any portion of the Leased Property shall be held in the County’s name, subject only to Permitted Encumbrances, until conveyed as provided in this Lease, notwithstanding (a) the occurrence of one or more events of default as defined in Section 12.1 of the Contract; (b) the occurrence of any event of damage, destruction, condemnation or construction or title defect; or (c) the violation by the County of any provision of this Lease. The County will not transfer the School Site to any party, other than the Board of Education, or voluntarily create any liens or encumbrances on the School Site without the Board of Education’s consent. The Board of Education has no right, title or interest in the Leased Property or any additions and modifications to or replacements of any portion of the Leased Property, except as expressly set forth in this Lease.
Title to Leased Property Limitations on Encumbrances. Except for personal property purchased by the Board of Education at its own expense, title to the Leased Property and any and all additions and modifications to or replacements of any portion of the Leased Property shall be held in the County’s name, subject only to Permitted Encumbrances, until conveyed pursuant to foreclosure under the Deed of Trust or as provided in this Lease, notwithstanding
(a) the occurrence of one or more events of default as defined in Section 12.1 of the Contract; (b) the occurrence of any event of damage, destruction, condemnation or construction or title defect; or (c) the violation by the County of any provision of this Lease. The County will not transfer the School Site to any party, other than the Board of Education, or voluntarily create any liens or encumbrances on the School Site without the Board of Education’s consent. The Board of Education has no right, title or interest in the Leased Property or any additions and modifications to or replacements of any portion of the Leased Property, except as expressly set forth in this Lease.
Title to Leased Property Limitations on Encumbrances
