Government Property Lease Sample Clauses

Government Property Lease. City hereby acknowledges and agrees that if the Project is completed as contemplated in compliance with the Schedule of Performance (as it may be amended or extended) and Developer has otherwise satisfied its obligations, in all material respects, under this Agreement (taking into account all applicable cure periods, if any), then Developer shall be entitled to all statutorily-authorized property tax abatements available pursuant to the provisions of A.R.S. §§ 42-6201 through 42-6209, inclusive, as in effect on May 20, 2010, which were reserved in Resolution 2010.76. Upon execution of this Agreement, the conditions stated in Sections 2 and 3 of such Resolution shall have been satisfied. City and Developer hereby agree that the voluntary payment to be made by Developer pursuant to Section 3.7.2 satisfies the contribution referenced in Section 3 of such Resolution. Upon issuance of a Certificate of Occupancy for the Project (i) the Property shall be conveyed to City by a special warranty deed in substantially the form of Exhibit F attached hereto, or a form otherwise mutually acceptable to City and Developer, and (ii) City shall lease back the Property to Developer pursuant to a separate Land and Improvements Lease substantially in the form attached hereto as Exhibit G, or a form otherwise mutually acceptable to City and Developer (the “Government Property Lease”). The Property must be conveyed to City within 180 days after issuance of the first Certificate of Occupancy for the Project.
Sample 1
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Government Property Lease. City hereby acknowledges and agrees that if the Project is completed as contemplated in compliance with the Schedule of Performance (as it may be amended or extended) and Developer has otherwise satisfied its obligations, in all material respects, under this Agreement (taking into account all applicable cure periods, if any), then Developer shall be entitled to all statutorily-authorized property tax abatements available pursuant to the provisions of A.R.S. §§ 42-6201 through 42-6209, inclusive, as in effect on May 20, 2010 which were reserved in Resolution 2010.76. Upon execution of this Agreement, the conditions stated in Section 2 of such Resolution shall have been satisfied. No in-lieu payment referenced in Section 3 of such Resolution is required. Upon issuance of a Certificate of Occupancy for Phase I of the Project, (i) the Property shall be conveyed to City by a special warranty deed in substantially the form of Exhibit D attached hereto, or a form otherwise mutually acceptable to City and Developer, and (ii) City shall lease back the Property to Developer pursuant to a separate Land and Improvements Lease substantially in the form attached hereto as Exhibit E, or a form otherwise mutually acceptable to the City and the Developer (the “Government Property Lease”). The term of the Government Property Lease shall not exceed 6 years from the date of conveyance of the Property to the City. The Property must be conveyed to City within 180 days after issuance of the first Certificate of Occupancy for the Project but not more than one year after the date of Substantial Completion of Phase 1. The City agrees that the Property may be conveyed to the City subject to the lien of a fee deed of trust executed by Developer as the trustor, in which event, while the City shall have no personal liability under such fee deed of trust, the City’s interest in the Property shall be subject and subordinate to the lien of such fee deed of trust. The parties acknowledge that at the time of this Agreement, construction has already commenced on the Project.
Sample 1
Government Property Lease. City hereby acknowledges and agrees that as and when Certificates of Completion for the Improvements on a Parcel are issued and Developer has otherwise satisfied, in all material respects, its obligations which are then due under this Agreement (taking into account all applicable cure periods, if any), then Developer shall be entitled to all statutorily-authorized property tax abatements, including, without limitation, all such abatements currently available pursuant to the provisions of A.R.S. §42-6201 through §42-6209. Following issuance of a Certificate of Completion on a Parcel, and upon City’s receipt of Developer’s written request therefor, the Parcel will be subject to the Government Property Lease Excise Tax as provided for under A.R.S. §42-6201 through §42-6209.
Sample 1
Government Property Lease. City hereby acknowledges and agrees that if the Project is completed as contemplated in compliance with the Schedule of Performance (as it may be amended or extended) and Developer has otherwise satisfied its obligations, in all material respects, under this Agreement (taking into account all applicable cure periods, if any), then Developer shall be entitled to all statutorily-authorized property tax abatements and rates available pursuant to the provisions of A.R.S. §§ 42-6201 through 42-6210, inclusive, as in effect on May 20, 2010 which were reserved in Resolution 2010.76. Upon execution of this Agreement, the conditions stated in Section 2 of such Resolution shall have been satisfied. If Developer has performed its development obligations hereunder under this Agreement, then City and Developer shall take such actions as are necessary to facilitate property tax abatements on government property improvements for which a certificate of occupancy has been issued, including without limitation, entering a lease substantially in the form attached hereto as Exhibit G (each a “GPLET Lease”). Alternatively, City and Developer may agree to include the requisite provisions in the Master Lease.
Sample 1
Government Property Lease. City hereby acknowledges and agrees that as each Phase of the Project which constitutes either the office component or a hotel component is completed as contemplated in compliance with the Schedule of Performance (as it may be amended or extended) and so long as Developer has otherwise satisfied its obligations, in all material respects, under this Agreement with respect to such Phase (taking into account all applicable cure periods, if any), then Developer shall be entitled to all statutorily-authorized property tax abatements available pursuant to the provisions of A.R.S. §42-6209. Developer acknowledges that Developer's right to any Government Property Lease shall apply only to the office component and hotel component (with appurtenant retail uses, if any) and not to any other Phases within the Project. Any residential project constructed within the Property shall not be entitled to a Government Property Lease. If Developer has fully performed its obligations under this Agreement, then to facilitate property tax abatements, City hereby agrees that, at the request of Developer from time to time, City shall accept reconveyances of one or more Phases and conveyances of Improvements thereon by deed substantially in the form attached hereto as Exhibit J and shall lease-back all such Parcels and Improvements to Developer upon the terms and conditions set forth in a Government Property Lease substantially in the form attached hereto as Exhibit K.
Sample 1

Related to Government Property Lease

  • Real Property; Personal Property (a) On the Disaffiliation Date, Local Church will have full title and ownership of the Real Property and Personal Property. The parties shall ensure all necessary transfers or other transactions relating to the above properties are completed on or prior to the Disaffiliation Date. Any costs resulting from such transfers or other transactions shall be borne by Local Church. Annual Conference shall fully cooperate with Local Church, as needed and applicable, to ensure that such transfers and other transactions convey all of Annual Conference’s interest – both for itself and on behalf of The United Methodist Church – in the Real Property and Personal Property, both tangible and intangible, of Local Church.

  • Access to Property, Property’s Management, Property Lender, and Property Tenants Potential Investor agrees to not seek to gain access to any non-public areas of the Property or communicate with Property’s management employees, the holder of any financing encumbering the Property, the Property’s tenants, and the Owner’s partners in the ownership of the Property, without the prior consent of Owner or HFF, which consent may be withheld in the Owner’s sole discretion.

  • Personal Property Loss An employee's personal property loss or damage by the action of a client shall be replaced or repaired at the expense of the Employer to a maximum of seven hundred and fifty ($750.00) dollars, subject to integration with one hundred (100%) per cent coverage by Workers' Compensation Board, provided that reasonable proof of the cause of such damage is submitted by the employee concerned within reasonable time of such loss or damage.

  • Real Property (a) Neither the Company nor any of its Subsidiaries owns any real property.

  • Leases The Property is not subject to any leases other than the Leases described in the rent roll attached hereto as Schedule V and made a part hereof. Borrower is the owner and lessor of landlord’s interest in the Leases. No Person has any possessory interest in the Property or right to occupy the same except under and pursuant to the provisions of the Leases. The current Leases are in full force and effect and, to the best of Borrower’s knowledge, (a) there are no defaults thereunder by either party and (b) there are no conditions that, with the passage of time or the giving of notice, or both, would constitute defaults thereunder. No Rent (including security deposits) has been paid more than one (1) month in advance of its due date. To the best of Borrower’s knowledge, all work to be completed by Borrower prior to the date hereof under each Lease has been performed as required and has been accepted by the applicable tenant, and any payments, free rent, partial rent, rebate of rent or other payments, credits, allowances or abatements required to be given by Borrower to any tenant has already been received by such tenant. There has been no prior sale, transfer or assignment, hypothecation or pledge of any Lease or of the Rents received therein. To the best of Borrower’s knowledge, no tenant listed on Schedule I has assigned its Lease or sublet all or any portion of the premises demised thereby, no such tenant holds its leased premises under assignment or sublease, nor does anyone except such tenant and its employees occupy such leased premises. No Tenant under any Lease has a right or option pursuant to such Lease or otherwise to purchase all or any part of the leased premises or the building of which the leased premises are a part. No Tenant has no right or option for additional space in the Improvements. Except as otherwise disclosed by the Environmental Report (as defined in the Mortgage), no hazardous wastes or toxic substances, as defined by applicable federal, state or local statutes, rules and regulations, have been disposed, stored or treated by any tenant under any Lease on or about the Property nor does Borrower have any knowledge of any Tenant’s intention to use its premises for any activity which, directly or indirectly, involves the use, generation, treatment, storage, disposal or transportation of any petroleum product or any toxic or hazardous chemical, material, substance or waste. True, correct and complete copies of the Leases have been provided to Lender and such Leases have not been modified or amended in any way.

  • B7 Licence to Occupy Premises B7.1 Any land or Premises made available from time to time to the Contractor by the Authority in connection with the Contract shall be on a non-exclusive licence basis free of charge and shall be used by the Contractor solely for the purpose of performing its obligations under the Contract. The Contractor shall have the use of such land or Premises as licensee and shall vacate the same on completion, termination or abandonment of the Contract.

  • Licence to Occupy Premises A5.1 Any land or Premises made available to the Contractor by the Authority in connection with the Contract, shall be made available to the Contractor on a non-exclusive licence basis free of charge and shall be used by the Contractor solely for the purpose of performing its obligations under the Contract. The Contractor shall have the use of such land or Premises as licensee and shall vacate the same on completion, termination or abandonment of the Contract.

  • Intellectual Property Indemnity To the fullest extent permitted by law, Contractor shall defend, indemnify, and hold Enterprise Services and any Purchaser and their employees and agents harmless from against any and all Claims resulting from allegations of infringement of any patents, copyrights, trade secret, or similar intellectual property rights covering the Goods or Services provided, or the use of the Goods or Services under this Master Contract. If Purchaser’s use of Goods or Services provided by Contractor is enjoined based on an intellectual property infringement Claim, Contractor shall, at its own expense, either procure for Purchaser the right to continue using the Goods or Services or, after consulting with Purchaser and obtaining Purchaser’s consent, replace or modify the Goods or Services with substantially similar and functionally equivalent non-infringing Goods or Services.

  • Personal Property Reimbursement Employees shall, in proper cases, be reimbursed for the repair or replacement of personal property damaged in the line of duty without fault of the employee. The amount of reimbursement for articles of clothing shall be the depreciated value based on the age and condition of the article. Reimbursement for a watch shall be limited to the functional value of the watch.

  • Ground Lease Reserved.

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