Common use of Property Transfer Clause in Contracts

Property Transfer. If City conveys into private ownership a fee interest in the property that is the subject of this agreement, it will require as a condition of sale, and enforce: (a) that the purchaser record a declaration on the property incorporating the maintenance requirements of this agreement; and (b) that recordation occur either before any other encumbrance is recorded on the property or, if after, only as accompanied by a subordination and consent executed by the encumbrance holder ensuring that the declaration will run with the land in perpetuity. If City conveys into public ownership a fee interest in any property that has become subject to this agreement, it will require as a condition of the purchase and sale agreement that the purchaser accept an assignment of all obligations vested under this agreement. This Agreement may be amended only in a writing signed by the parties. The recitals above are incorporated as a part of this agreement.

Property Transfer. If City conveys into private ownership a fee interest in the property that is the subject of this agreementAgreement, it will shall require as a condition of sale, and enforce: (a) that the purchaser record a declaration on the property incorporating the maintenance requirements of this agreementAgreement; and (b) that recordation occur either before any other encumbrance is recorded on the property or, if after, only as accompanied by a subordination and consent executed by the encumbrance holder ensuring that the declaration will run with the land in perpetuity. If City conveys into public ownership a fee interest in any property that has become subject to this agreementAgreement, it will shall require as a condition of the purchase and sale agreement that the purchaser accept an assignment of all obligations vested under this agreementAgreement. This Agreement may be amended only in a writing signed by the parties. The recitals above are incorporated as a part of this agreementAgreement.

Property Transfer. If City conveys into private ownership a fee interest in the property that is the subject of this agreementAgreement, it will shall require as a condition of sale, and enforce: (a) that the purchaser record a declaration on the property incorporating the maintenance requirements of this agreementAgreement; and (b) that recordation occur either before any other encumbrance is recorded on the property or, if after, only as accompanied by a subordination and consent executed by the encumbrance holder ensuring that the declaration will run with the land in perpetuity. If City conveys into public ownership a fee interest in any property that has become subject to this agreementAgreement, it will shall require as a condition of the purchase and sale agreement that the purchaser accept an assignment of all obligations vested under this agreement. This Agreement may be amended only in a writing signed by the parties. The recitals above are incorporated as a part of this agreementAgreement.