Transfer by City. If City sells or otherwise transfers the Premises, City shall be released from its obligations under this Lease arising on or after the date of such sale or transfer and Tenant shall look solely to the successor-in-interest to City. Upon a sale of the Premises by City, Tenant shall attorn to the purchaser or transferee, such attornment to be effective and self- operative without the execution of any further instruments on the part of the parties to this Lease. This Lease shall not be deemed to constitute any commitment by City, or create any priority or right in favor of Tenant, with regard to any future sale or other disposition of the Premises, or any portion thereof.
Transfer by City. If the City sells, assigns, or otherwise transfers (whether by operation of law or otherwise) all or part of its interest in the Premises or this Ground Lease, the assignment agreement must fully obligate the assignee to assume all of the City’s obligations and responsibilities pursuant to this Ground Lease. The City shall be relieved of all of its obligations and liabilities under this Ground Lease accruing after the effective date of the transfer, and the transferee shall be deemed to have assumed all of the City’s obligations and liabilities under this Ground Lease effective from and after the effective date of the transfer.
Transfer by City. In consideration of the covenants and agreements hereafter mentioned on the part of MDU to be performed, City hereby agrees to grant and convey unto MDU all of City’s right, title and interest in and to certain real property in, Rapid City, Pennington County, South Dakota, consisting of approximately 1.377 acres lying adjacent to Saint Xxxxxx Street and Xxxxxx Avenue and as shown on the attached Exhibit A, which is described as follows: Tract A of Tract One (1) of Section Twenty-three (23), Township One (1) North, Range Seven (7) East of the Black Hills Meridian, Rapid City, Pennington County, South Dakota. A platted legal description of the subject property will be substituted for the foregoing description at closing. Lot 1 of MDU Subdivision, as depicted on the Plat recorded at the Pennington County Register of Deeds Office at Plat Book , Page . Such conveyance shall be in the form of a quitclaim deed in the form attached hereto as Exhibit C.
Transfer by City. City may transfer, assign, or sell this Lease, or any interest in this Lease or the Property, at any time, with prior notice to Lessee, upon which transfer, assignment or sale, City shall be released of all liability hereunder. Lessee shall attorn to the transferee, assignee, or purchaser, and shall perform all obligations required to be performed by Lessee under this Lease after the date Lessee is notified of the transfer, assignment, or sale, as though the transferee, assignee or purchaser was the original Lessor named in this Lease.
Transfer by City. (A) CITY agrees to convey to HCF, at a valuation, for the purpose of this Agreement, of $500,000.00, Heritage Park. As part of such conveyance, HCF agrees to remove and relocate, at its sole cost and expense, certain improvements located at Heritage Park to the Promenade, as well as the residence, having a value of approximately $173,610 located on the Promenade to Heritage Park, the cost of which removal and relocation is estimated at $1,000,000.00. At the closing with respect to the conveyance of Heritage Park to HCF, HCF shall present to the CITY a certification by a financial institution located in Columbus, Muscogee County, Georgia. Such certification shall warrant to the CITY that HCF has on deposit, in a segregated account, earmarked for the purposes hereof; the sum of $1,000,000.00 in readily available funds.
Transfer by City. In the event that the ROW within which the Premises are located is transferred to the control and jurisdiction of another unit of government, City shall be relieved of all liability under any and all of its covenants and obligations contained in or derived from this Lease, arising out of any act, occurrence or omission occurring after the jurisdictional transfer. The entity, at such transfer or any subsequent transfer of the Premises, shall be deemed, without any further agreement between the Parties and any such entity, to have assumed and agreed to carry out any and all of the covenants and obligations of City under this Lease.
