Common use of Development Corp Clause in Contracts

Development Corp. s under- lying title to minerals and mineral rights, mineral substances and coal and Water Rights and Ground Water in connection with the Property shall in no way be affected by this instrument. In addition, the Development Corp., for itself, its successors and assigns, excepts and reserves and shall retain the right to develop and remove any such minerals or mineral rights, mineral sub- stances or coal, and Water Rights or Ground Water by slant drilling, subterra- nean entry or other means or operations conducted on the surface of any parcel as to which Development Corp. may then have rights of surface use or by any other suitable means or methods, provided, however, that any such slant drill- ing, subterranean entry or other operations conducted on the surface of any such parcel or such other suitable means or methods can be employed without entering upon or using the surface of all or any portion of the Property and without impairing structures, improvements or appurtenances, or the use or support thereof, located or to be located on the Property.

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)