Property Donation. Xxxxxx'x Jazz Company has donated the Square 26 Property to the City. Notwithstanding anything to the contrary contained herein, there shall be no reversion of the Square 26 Property, whether or not any part of the Donated Property reverts to Tenant, Xxxxxx'x Jazz Company or any other Person for any reason, or upon any event identified herein.
Property Donation. Traveller hereby donates the Property to the City under the terms of this Agreement, and the City accepts the donation of the Property under the terms of this Agreement.
Property Donation. GOT hereby represents and warrants to Business that GOT owns the real property and all improvements and appurtenances thereto (collectively, the “Property”) legally described in the attached Exhibit A in fee, free and clear of all liens, encumbrances, occupancy rights and other interests except those filed of record. Within 30 days of Business’s delivery to GOT of written notice, GOT shall transfer the Property to Business or its designee (including, without limitation, Shawnee County, Kansas (the “County”)) for $10.00 via special warranty deed (the “Deed”), subject only to matters of title approved by Business. If Business fails to provide the forgoing notice on or before the two-year anniversary of the Effective Date, upon written notice from Business or GOT this Agreement shall terminate, in which event the parties will be released from all further duties and liabilities hereunder, unless Business and GOT have agreed in writing to an extension of such two-year term. Within 30 days of GOT’s provision of the JEDO Approval, as defined below, GOT shall file of record a notice, in form and substance acceptable to Business, that the Property is subject to Business’s right to require conveyance of the same pursuant to this Agreement, and that GOT shall grant no competing rights or other interests in and to the Property while this Agreement is in effect. GOT will use its best efforts to assist Business in obtaining (i) any and all approvals needed to lawfully construct and operate the Facility upon the Property (including but not limited to, upon request of Business, applying for and seeking such approvals in GOT’s name to the extent permitted under applicable law, provided that any application fees payable in connection with such applications shall be paid or reimbursed to GOT by Business) and (ii) a 50% reduction by the City in any and all permitting fees in connection with the development of the Facility. Business will pay all costs and expenses in connection with its acquisition of the Property (other than brokerage fees related to brokers engaged by GOT, transfer taxes and any other costs and expenses which must be paid by grantor pursuant to applicable law), and taxes, Property expenses and income will be prorated to the date of Business’s acquisition of the Property. GOT will at all times be responsible for any so-called ‘greenbelt’ or ‘rollback’ taxes and any other taxes arising from any change in use of the Property.
Property Donation. At such time as necessary for the Commission to develop any of the Site Improvements or Public Improvements, Developer shall donate by quitclaim deed the Lot 1 on Exhibit A. An exemplar Quitclaim Deed of the Donation Area is attached as Exhibit D.
