Commercial Property Owner definition
Examples of Commercial Property Owner in a sentence
Provided, however, notwithstanding the foregoing, for avoidance of doubt, the consent of Commercial Property Owner shall be required with respect to the dedication of any facilities described in clauses (b), (c) and (d) above to the extent that such facilities are located on the Commercial Property.
Commercial Property Owner shall cooperate by executing and delivering to such utility companies and/or governmental agencies such easements on the standard forms used by such companies and/or agencies.
Commercial Property Owner hereby approves the location of the Utility Facilities shown on the Construction Plans, dated 2/3/2019, last revised 2/10/2020, and approved by the City of Lilburn on 3/13/2020, the Cover Sheet of which is attached hereto as Exhibit “D” (“LDP Plans”).
Residential Property Owner hereby grants, conveys, declares, creates and establishes in favor of Commercial Property Owner, as an appurtenance to the Commercial Property a nonexclusive easement (“Access Easement”) for access, ingress and egress of vehicular traffic to and from U.S. Highway 29, over and across the roadways located from time to time on the Residential Property and designated by Residential Property Owner for use by the owner of the Commercial Property (“Residential Property Roadways”).
In addition, Residential Property Owner shall have the right to amend this Declaration from time to time to further define the Access Easement by attaching hereto such additional plats and/or legal descriptions as Residential Property Owner determines are necessary or appropriate in its sole discretion and without the consent or joinder of Commercial Property Owner or any other person or entity.
The Condominium Property Owner hereby grants to the Commercial Property Owner a non-exclusive easement on, over, across and through the interior corridor along the north side ofthe first floor ofthe Condominium Improvements and the trash room and trash facilities within the Condominium Property for the transportation and discarding ofrefuse and garbage from the Commercial Property.
Ifthe Property is destroyed or substantially damaged, and the Condominium Property Owner (subject to the Condominium Act) and the Commercial Property Owner agree not to rebuild, repair or restore the Property, subject to the written approval ofthe Mortgagees ofthe Condominium Property Owner and the Commercial Property Owner, then the Property shall be demolished to the extent necessary to comply with all applicable Laws.
The Commercial Property Owner shall be responsible for, and shall reimburse the Condominium Property Owner for, an amount equal to eight percent (8%) of the costs of Maintenance of such Facilities (including the Heating and Cooling Facilities).
The Commercial Property Owner and the Condominium Property Owner, in addition to "all risk" propertyinsurance required under Section 8.1 (A), shall each insure their respective portions ofthe Property against earthquake and flood risks in an amount equal to the replacement cost thereof or such lesser amount as then may be reasonably available in the insurance market; both subject, however, to deductibles available and reasonable for such types of insurance.
The Condominium Property Owner hereby grants to the Commercial Property Owner a non-exclusive easement for support, enclosure, use and Maintenance with respect to those walls and horizontal slabs, ifany, constructed in and along the common boundaries of the Condominium Parcel and the Commercial Parcel which also serve as walls, ceilings or floors for the Commercial Improvements.