Common use of Licensed Property Clause in Contracts

Licensed Property. The City grants to Licensee a revocable license for the use of property in said area that is referred to as the BMX facility, more particularly described and depicted on the attached Exhibit B, which is incorporated by this reference (“Subject Property”). The Licensee shall fence the site of the Subject Property and maintain the same in good condition. Licensee acknowledges that it has inspected and examined the Subject Property and accepts it “as is” in its condition as of the Effective Date. The City makes no warranties as to the condition of the Subject Property. Licensee agrees that the City shall make no repairs to or otherwise maintain the Subject Property.

Licensed Property. The City grants to Licensee a revocable license for the use of property pProperty in said area that is referred to as the BMX facilityTrackfacility, more particularly described and depicted on the attached Exhibit B, which is incorporated by this reference (“Subject Property”). The Licensee shall fence the site of the Subject Property sSubject Pproperty and maintain the same in good condition. Licensee acknowledges that it has inspected and examined the Subject Property and accepts it “as is” in its condition as of the Effective Date. The City makes no warranties as to the condition of the Subject Property. Licensee agrees that the City shall make no repairs to or otherwise maintain the Subject Property.