Removable Fixtures definition
Examples of Removable Fixtures in a sentence
All improvements of any kind or character whatsoever constructed or placed on the Land by Developer or Sublessees that are not Removable Fixtures, and all alterations, modifications and enlargements thereof, shall become part of the Facilities and unencumbered title to all such Facilities shall vest in the City immediately upon the expiration or early termination of this Agreement.
Developer and its respective Sublessees shall be responsible for the payment of all personal property taxes on their respective personal property from time to time placed in or upon the Premises, whether constituting a part of the Removable Fixtures or otherwise.
Notwithstanding the foregoing, the City shall have the option to purchase from Developer any or all Removable Fixtures by paying to Developer the fair market value of all such items as of the Expiration Date or early termination.
If the parties hereto are unable to agree upon the fair market value, Developer shall remove all such Removable Fixtures without delay and without damage to the Premises.
Upon termination of this Agreement, Developer shall remove or cause to be removed all Removable Fixtures, unless instructed otherwise in writing by the City, without damage to the Premises within thirty (30) days of the Expiration Date or earlier termination hereof; provided, however, if Developer fails to remove its property and Removable Fixtures within such thirty (30) day period, the City may remove the same at Developer’s expense and without any liability for damage by reason of such removal.