Common use of Easements and Rights-of-Way Clause in Contracts

Easements and Rights-of-Way. Grantor shall not grant any easement or right-of-way with respect to all or any portion of the Premises or the Improvements without the prior written consent of Beneficiary, which shall not be unreasonably withheld or delayed. The purchaser at any foreclosure sale hereunder may, at its discretion, disaffirm any easement or right-of-way granted in violation of any of the provisions of this Deed of Trust and may take immediate possession of the Trust Property free from, and despite the terms of, such grant of easement or right-of-way. If Beneficiary consents to the grant of an easement or right-of-way, Beneficiary agrees to grant such consent without charge to Grantor other than reasonable expenses, including, without limitation, reasonable attorneys' fees, incurred by Beneficiary in the review of Grantor's request and in the preparation of documents effecting the subordination.

Appears in 3 contracts

Samples: Trust, Security Agreement and Fixture Filing (Apple Suites Inc), Trust and Security Agreement (Cornerstone Realty Income Trust Inc), Trust and Security Agreement (Cornerstone Realty Income Trust Inc)

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Easements and Rights-of-Way. Grantor shall not grant any easement or --------------------------- right-of-way with respect to all or any portion of the Premises or the Improvements without the prior written consent of Beneficiary, which shall not be unreasonably withheld or delayed. The purchaser at any foreclosure sale hereunder may, at its discretion, disaffirm any easement or right-of-way granted in violation of any of the provisions of this Deed of Trust and may take immediate possession of the Trust Property free from, and despite the terms of, such grant of easement or right-of-way. If Beneficiary consents to the grant of an easement or right-of-way, Beneficiary agrees to grant such consent without charge to Grantor other than reasonable expenses, including, without limitation, reasonable attorneys' fees, incurred by Beneficiary in the review of Grantor's request and in the preparation of documents effecting the subordination.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (Cornerstone Realty Income Trust Inc)

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