Common use of Disannexation Clause in Contracts

Disannexation. It is the intent of the Parties to enter into this Agreement to address, among other things, the service of wastewater to the Property through the construction of a Wastewater Line Project by the City. In the event that the City does not construct the Wastewater Line and does not provide a wastewater service connection to the Property by June 30, 2025 (the “Wastewater Service Period”), then the Owner can request, and City will, disannex the Property. Owner agrees not to request any taxes that may be paid to the City during the period the Property is in the City. No monies will be paid by the City whatsoever to Owner in relation to annexation/disannexation. Disannexation is the sole remedy. Owner must request disannexation up to sixty (60) days after the Wastewater Service Period has expired. The ability to request disannexation expires upon the earlier to occur: (1) sixty (60) days after the Wastewater Service Period has expired; or (2) the date the wastewater service connection is provided by the City to the Property.