Common use of CROPS Clause in Contracts

CROPS. Parties agree that crops planted or growing on the premises at the time of the transfer of the ownership of the respective premises between Optionor and Optionee following an exercise of the Option by Optionee, shall remain the property of the Optionor. Parties further agree that Optionee shall have the right following the closing of escrow to enter upon the property transferred to it to commence construction thereon of improvements contemplated by it, but in such event Optionee shall reimburse Optionor for the fair market value of any planted or growing crops damaged or destroyed by reason of such construction, said value to be determined by an independent appraiser. Parties further agree that the Optionor after closing escrow shall have the continued right to access to the premises transferred to undertake and complete all necessary field work until the crop thereon is harvested.