Common use of No Interest in Land Clause in Contracts

No Interest in Land. Owner understands, acknowledges and agrees that the License and this Agreement do not create an interest or estate in Owner's favor in the Town's Property. The Town retains legal possession of the full boundaries of Town's Property and the License and this Agreement merely grant to the Owner the personal privilege to maintain the Encroachments described above throughout the term of this Agreement. Notwithstanding the expenditure of time, money or labor by the Owner on the improvements which constitute the Encroachments, the License and this Agreement shall in no event be construed to create an assignment coupled with an interest in favor of the Owner. Owner shall expend any time, money or labor at Owner's own risk and peril.