Development Corp. for itself, its successors and assigns, hereby relinquishes and quit claims to Surface Owner, its successors and assigns, for the period of time as hereinafter spec- ified, all rights of Development Corp. to enter upon the surface of all or any portion of the Property for any purpose in connection with the development or utilization of any minerals or mineral rights or mineral substances or coal acquired by Development Corp. under the Mineral Deed or the UP Mineral Deed or for any purpose in connection with the development or utilization of any of the Water Rights and Ground Water. Nothing herein contained shall limit the right of Surface Owner or any subsequent owner of the Property, to at any time in the future, authorize Development Corp., its successors and assigns, to utilize all or any portion of the Property for the development and utilization of minerals or mineral rights, mineral substances or coal, or Water Rights or Ground Water.
Appears in 2 contracts
Sources: Vacant Land Purchase and Sale Agreement (Wellsford Residential Property Trust), Vacant Land Purchase and Sale Agreement (Equity Residential Properties Trust)