Common use of TRACK REMOVAL Clause in Contracts

TRACK REMOVAL. Upon the termination of this Agreement, or if the Track be abandoned or be no longer used for the purpose for which constructed, each of the parties hereto shall have the right to take up and remove that portion of the Track owned by it without liability of any kind to the other party for so doing. If a portion of the Track owned by INDUSTRY is constructed across or along a public street, RAILROAD shall have the right to require INDUSTRY, at INDUSTRY’s sole cost and expense, to remove the Track from the street and to restore the pavement, sidewalks, water mains, sewer and other utilities located therein, by giving written notice to INDUSTRY prior to the expiration of the term of this Agreement. INDUSTRY shall cause such work to be performed within ninety (90) days after receipt of RAILROAD’s notice. If INDUSTRY fails to remove the Track and restore the property, RAILROAD shall have the right to perform the work at the sole risk and expense of INDUSTRY.