Examples of Garage Easement Agreement in a sentence
The Parties agree and acknowledge that the execution and recordation of the Garage Easement Agreement shall in no way terminate or otherwise limit the City’s obligation for the repair and maintenance of the Garage Property, except as otherwise provided for under the Garage Easement Agreement and/or the Garage Maintenance Agreement for the term of the Ground Lease.
The City and the Developer agree that the Ground Lease, Garage License Agreement, and Garage Easement Agreement to be executed by the Parties will be substantially consistent with the terms of the form of Ground Lease, Garage License Agreement, and Garage Easement Agreement, attached hereto as E xhibit E, E xhibit F and Exhibit G respectively (as such may be further negotiated).
Neither Seller nor any of the Companies has received written notice of a breach or default under the Garage Easement Agreement, and, to Seller's Knowledge, there is no existing condition that, with notice or passage of time or both, would constitute a default under the Garage Easement Agreement.
The City's obligation to lease the Residential Property to the Developer and enter the Garage License Agreement and Garage Easement Agreement shall be subject to the satisfaction of all such conditions precedent by the dates set forth in the Schedule of Performance, unless otherwise waived by the City.
If the parties are unable to negotiate the terms of a Ground Lease, Regulatory Agreement, Garage License Agreement, and Garage Easement Agreement, this Agreement may be terminated as set forth in Section 11.2 below.
The requirements set forth in this Article are conditions precedent to the City's obligations to lease the Residential Property to the Developer and to providing the Developer access to the Garage Property through the Garage License Agreement and Garage Easement Agreement.
On the Closing Date, the Developer and the City shall execute and record the Garage Easement Agreement, to provide for the conveyance of an appurtenant easement for no less than 164 residential parking spaces on the Garage Property to the Residential Property from the City for the term of the Ground Lease, commencing immediately following issuance by the City of the Garage Improvements Certificate of Completion.
Notwithstanding the foregoing, City and Developer hereby acknowledge and agree that the dedication of the Garage Easement Agreement may be structured differently if required by Project funding sources or if the City and Developer mutually agree to do so in their reasonable discretion.
Provided the pre-disposition requirements set forth in ARTICLE 5 and the additional closing conditions set forth in Section 6.4 have been satisfied, the City shall lease to the Developer the Residential Property and provide the Developer access to the Garage Property pursuant to the terms, covenants, and conditions of this Agreement, the Ground Lease, the Garage License Agreement and Garage Easement Agreement.
If the parties are unable to agree upon the form of any of the Landscape Easement, the Parking Garage Easement Agreement, the Ground Lease Assignment or the Ground Lessor’s Agreement and Consent prior to the expiration of the Contingency Period, then this Agreement shall terminate, Buyer shall receive a refund of the Deposit, and neither party shall have any further rights or obligations hereunder except as provided in Section 6.1 above and Sections 9.3 and 9.9 above.