Common use of Access/Utilities Clause in Contracts

Access/Utilities. The Property (a) is located on or adjacent to a public road and has direct legal access to such road, or has access via an irrevocable easement or irrevocable right of way permitting ingress and egress to/from a public road, (b) is served by or has uninhibited access rights to public or private water and sanitary sewer (or well and septic), storm drainage facilities, and all required utilities, all of which are appropriate for the current use of the Property. All public utilities necessary or convenient for the full use and enjoyment of the Property are located either in the public right of way abutting the Property (which are connected as to serve the Property without passing over other property) or in irrevocable recorded easements servicing the Property and such easements are set forth in and insured by the Title Insurance Policy. All roads and public utilities necessary for the use of the Property for its current purposes have been completed and dedicated to public use and accepted by all Governmental Authorities.

Appears in 2 contracts

Samples: Loan Agreement (Chesapeake Lodging Trust), Loan Agreement (AmREIT, Inc.)

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Access/Utilities. The Each Individual Property (a) is located on or adjacent to a public road and has direct legal access to such road, or has access via an irrevocable easement or irrevocable right of way permitting ingress and egress to/from a public road, (b) is served by or has uninhibited access rights to public or private water and sanitary sewer (or well and septic), storm drainage facilities, and all required utilities, all of which are appropriate for the current use of the such Individual Property. All public utilities necessary or convenient for the full use and enjoyment of the each Individual Property are located either in the public right of way abutting the such Individual Property (which are connected as to serve the such Individual Property without passing over other property) or in irrevocable recorded easements servicing the Property and such easements are set forth in and insured by the Title Insurance PolicyIndividual Property. All roads and public utilities necessary for the use of the each Individual Property for its current purposes have been completed and dedicated to public use and accepted by all Governmental Authorities.

Appears in 1 contract

Samples: Loan Agreement (Cole Real Estate Income Strategy (Daily Nav), Inc.)

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Access/Utilities. The Property (a) is located on or adjacent to a public road and has direct legal access to such road, or has access via an irrevocable easement or irrevocable right of way permitting ingress and egress to/from a public road, (b) is served by or has uninhibited access rights to public or private water and sanitary sewer (or well and septic), storm drainage facilities, and all required utilities, all of which are appropriate for the current use of the Property. All public utilities necessary or convenient for the full use and enjoyment of the Property are located either in the public right of way abutting the Property (which are connected as to serve the Property without passing over other property) or in irrevocable recorded easements servicing the Property and such easements are set forth in and insured by the Title Insurance PolicyProperty. All roads and public utilities necessary for the use of the Property for its current purposes have been completed and dedicated to public use and accepted by all Governmental Authorities.

Appears in 1 contract

Samples: Loan Agreement (Cole Credit Property Trust Iv, Inc.)

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