Common use of Public Easements Clause in Contracts

Public Easements. There are public improvements (e.g., water, sewer, electric, etc.) on the Property; accordingly, Seller shall retain rights, in the form of easements on, over, under and across the Property to provide for repair and maintenance of, continued use of, and access to, the existing pipes, conduits, utility lines and other facilities and infrastructures located either on the Property, or on adjacent property owned by Seller. The nature of the easements, the form of easement grant and the exact descriptions of all easement premises (collectively, the “Easements”) shall in Seller’s standard forms for such easements. Seller, at its sole election, may either reserve the Easements, or require Buyer to grant the Easements to Seller (and/or any other named parties in the approved easement grants), at no cost to Seller, at Closing, either by instrument, by map of dedication or by plat. Any reserved Easement shall be deemed an Approved Title Exception; and any Easement granted by Buyer to Seller at Closing shall be recorded immediately after the Deed, and prior to any lien, claim or encumbrance against the Property by or in favor of Buyer. If the location, area, terms and conditions of the Easements are not resolved and mutually approved by Seller and Buyer (in Seller’s and Buyer’s sole and absolute discretion) prior to Closing, either Party may terminate this Agreement by delivery of written notice to the other Party, and the Parties shall have no further obligations or liability to each other pursuant to this Agreement except to the extent this Agreement expressly states that an obligation herein shall survive such termination.

Public Easements. There If there are public improvements (e.g., water, sewer, electric, etc.) on the Property; accordingly, Seller shall retain rights, in the form of easements on, over, under and across the Property to provide for repair and maintenance of, continued use of, and access to, the existing pipes, conduits, utility lines and other facilities and infrastructures located either on the Property, or on adjacent property owned by Seller. The nature of the easements, the form of easement grant and the exact descriptions of all easement premises (collectively, the “Easements”) shall in Seller’s standard forms for such easements. Seller, at its sole election, may either reserve the Easements, or require Buyer to grant the Easements to Seller (and/or any other named parties in the approved easement grants), at no cost to Seller, at Closing, either by instrument, by map of dedication or by plat. Any reserved Easement shall be deemed an Approved Title Exception; and any Easement granted by Buyer to Seller at Closing shall be recorded immediately after the Deed, and prior to any lien, claim or encumbrance against the Property by or in favor of Buyer. If the location, area, terms and conditions of the Easements are not resolved and mutually approved by Seller and Buyer (in Seller’s and Buyer’s sole and absolute discretion) prior to Closing, either Party may terminate this Agreement by delivery of written notice to the other Party, and the Parties shall have no further obligations or liability to each other pursuant to this Agreement except to the extent this Agreement expressly states that an obligation herein shall survive such termination.