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Real estate law Easement

Real estate law Easement - x M EXERCISE NUMBER 1 GRANT OF...

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Unformatted text preview: x;_ M EXERCISE NUMBER 1 GRANT OF BASEMENT Note. This form is a 11172121173811 martian of a grant of ease- men? that ma‘32 be medzfied depehdmg on the circum- stances. GRANT OF" EASEMENT ’ THIS GRANT OF EASEE.‘1%ENT made and entered into this day of............, 19..., by and between (hereinafter referred to as the “Grantor”), and , , Whose address is 1 (hereinafter refe'rfed. to aS the “Gran-tee”); WITNESS ETH THAT For“ Ten Dollars (S10 0Q) and other good and Valuable consid- era't1‘on, the receipt and suffimency of which are hereby acknowl- edged the" Grantor has thiS date bargalned conveyed deliVered transferred and sold and by these presents, does bargain, convey, dehver transfer and sell unto the Grantee its suCcessors and as- signs a- non-exclusive easement for 1 .4 1 ' ., ,said easement being de- scribed 01'1 Exhibit “A” attached hereto and inCorpora‘ted herein by reference (hereinafter referred to as ‘fEaSement Area”). _ The easement is for the benefit of and appurtenant-t0 that land described on Exhibit “B” attached hereto and incorporated herein by reference (hereinafter referred to as the “Dhminant Estate”). * Grantor shall" have the right to use and Occupy the Basement Area for any purpose not 1nconszstent with, Grantee’s full enjoyment ’ ‘ of the rights hereby granted prov1ded however, that Grantor its successors or” aSsighs shall haVe the right to enter 1113011 the Base ment Area to build, erect, maintain, repair and rebuild such Basie: ' merit Area and the - story 'office tower to-‘be built under, over, above and adjacent to the Basement Area (the “Office Tower”) and further, Grantor shall have the right to prohibit or restrict Grantee’s use of the Basement Area in connection With such right to build, erect, maintain, repatr and rebuild. Phi. A (‘1 .1- __ .1. .- 1. -21, _ 1'21 ,S'AAS 1 1 w , 1 good condition and further shall be responsible for adequa ow and trash removal thereon, and this shall constitute a covenant running with the land, and binding upon Grantee’s successors and assigns. , * Any liability for personal injury to Grantee, its employees, agents and invitees, or any third persons, as a result of or arising ' out of or relating to the use or occupancy of the Basement Area by Grantee shall be borne by Grantee. Further, Grantee agrees to indemnify and hold harmless Grantor, its successors and assigns against any loss», Greetings-which shouldresult-from, arise out of or' be attributahle to, the use of the Basement Area whether or not such use is permitted?hereunder.“ . . . w At such time and in the eye-ht the Basement Area shall be abandoned for a period of one, (,1) year, the property interest of Grantee therein shall immediately terminate and shall thereafter revert to Grantor, its successors vanda‘SSigns. The, interest in land granted-herein shall be for the term of miners/«nine (99): years commencing] Otis-the date of-completio of construction oft-fie Office Tower-as evidenced‘by theiscsnan " d recordation' of a CertifiCate of Completion pursuant to S . n . . of that certain Agreement for Sale oflLand by and between and . ‘ ., ,. f ; provide-d, hoWever, said eaSernent and interest of Grantee created hereunder shall automatically terminate upon transfer, Sale or con- yey‘anc‘etof the Dominant Estate, by the named? Grantee or upon the demolition of the Office Tswer by Grantor or its successors or assigns. ' Itis contemplated by Grantor that. this Grant: ofErasement shall be amend-es 0r supplemented at such time as the precise location of the Easement created, hereby be‘clomes‘kfiown. IN WITNESS WHEREOF, thevGrantoi‘has hereunto set its hand and" seal the day'ahd‘ year first aboVe written; FA_1_-, tar ...
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