Reciprocal Parking Clause Samples
The Reciprocal Parking clause establishes mutual rights and obligations between parties regarding the use of parking areas within a shared property or development. Typically, it allows tenants, owners, or occupants of different buildings or lots to access and use designated parking spaces, regardless of which party owns the specific area. This arrangement ensures that all parties benefit from adequate parking facilities and helps prevent disputes over parking access, thereby promoting efficient use of shared resources and maintaining harmonious relations among property users.
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Reciprocal Parking. With respect to the parking areas from time to time located on the Land, the parking rights for the benefit of the Ground Leased Premises will be in common with all other parties permitted by Lessor to use those parking areas. The DEA will provide for the right of Lessor to establish rules and regulations governing the use of the parking areas upon the Land subject thereto.