Examples of Exchange Property in a sentence
The City acknowledges that the Developer may undertake an additional Internal Revenue Code Section 1031 tax deferred exchange of their interest in all or any portion of the Exchange Property.
The City and the Developer shall each have the right for thirty (30) days after the date of this Agreement, at each party’s own expense, to undertake an environmental audit, a professional wetlands delineation, professional floodplain analysis, survey, grading and soil tests (collectively “Tests”) on the Exchange Property each party is to receive.
Grantee Party agrees to indemnify, defend and hold Grantor Party harmless against all claims for injuries to persons on or damage to the Exchange Property caused by the Grantee Party and its agents, or caused by the Tests.
Grantor Party shall allow Grantee Party and its representatives and agents reasonable access onto the Exchange Property to conduct such Tests.
The Grantor Party shall, upon the execution of this Agreement, promptly furnish to the Grantee Party, any and all documents or reports which each party has in its possession which cover all or any portion of the Exchange Property to be conveyed with regard to any previous Tests.