Declaration of Covenants and Easements by TCDC of La Porte, Inc.

Browse Search

e It those portions of Parcel 2 described on the Railroad Easement Tract. C. The easements and rights of way granted in Paragraphs A and B of this Section II are for the purpose of installing, constructing, reconstructing, operating and maintaining either one or two railroad spurs, sidings or tracks (the "Railroad Improvements") from the existing right of way of the Southern Pacific Railway Company (the "Railroad") to and connecting with Railroad Improvements to be constructed on Parcels 1, 2 and 3 (including the right to grade, level, fill, drain, build, main- tain, repair and rebuild said railroad spurs, sidings or tracks, and to construct such bridges, culverts, ramps and cuts as may be required in connection therewith). D. The Owner of Parcel 3 agrees to construct said Railroad Improvements to be completed and operational on or before the date three (3) years from the date hereof. The cost of constructing said Railroad Improvements shall be borne, sub- ject to the provisions of Sections X and XI hereof, by the owners of Parcels 1, 2 and 3, respectively, in amounts to be determined by multiplying the cost of such Railroad Improvements by a ratio the numerator of which is the number of square feet in the owner's parcel and the denominator of which is the sum of the number of square feet in Parcels 1, 2 and 3. Each shall bear the cost of repairing and maintaining ,that por- tion of the Railroad Improvements which traverses their respec- tive parcels. Any owner of a parcel benefitted by the easements created by this Section II shall have the right, in the event any owner fails to maintain or repair their respec- tive portion of the Railroad Improvements, to effect such main- tenance or repair, and shall be entitled to be reimbursed for the cost of such maintenance or repair by the owner failing to so maintain or repair the Railroad Improvements. -4-