ENCUMBRANCES AND LIENS. The City shall not place or allow to be placed on the Property, or any portion thereof, from and after the Effective Date of this Agreement and while owned by the City, any mortgage, trust deed, encumbrance, lien, lease, easement, covenant, restriction or other matter affecting title, or sell or grant any rights to the Property or any portion of the Property. During its ownership of the Conveyed Property, the Developer shall remove or shall have removed, any levy or attachment made on the Property, or any portion thereof, except for those related to the work of the Developer and any Mortgage. Developer acknowledges and agrees the BSRA and Restrictive Covenant are current encumbrances on the Property and may be amended and recorded as an encumbrance against the Property in accordance with their terms and applicable law.
Appears in 2 contracts
Sources: Development Agreement, Development Agreement