1994-03-28 Regular Meeting - Laserfiche WebLink

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The 'reservation~ conditions, covenants~ exceptions, and restrictions set out in this Deed and the obligations that are the undertakings of Grantee and its successors and assigns recited in this Deed shall be covenants running with the land and shall be binding on Grantee and its successors and assigns. Grantor for the consideration and subject to the reservations from condi tions, exceptions and other matters set out in this deed grants, sells, and conveys to Grantee the property, together with all and singular the rights and appurtenances thereto in any wise belonging, to have and hold it to Grantee, Grantee's heirs, executors, administrators, successors, or assigns forever. Grantor binds Grantor and Grantor's heirs, executors, administrators, and successors to warrant and forever defend all and singular the property to Grantee and Grantee's heirs, executors, administrators, successors, and assigns against every person whomsoever lawfully claiming or to claim the same or any part thereof, except as to the reservations from and exceptions to conveyance and warranty. It is agreed by the Grantee that the covenant for use of the property as a recreation center known as The Brookglen Recreation Center, as between the parties hereto, their successors and assigns, shall be deemed to be and construed as an express condition subsequent, on which the conveyance is made. If Grantee shall neglect or fail to perform and to comply strictly with such covenant, Grantor and its successors, may at any time thereafter serve on Grantee a notice in writing specifying the particular or particulars in which default thereof has been made and directing Grantee to remedy such default or breach. Should Grantee thereafter for a period of thirty (30) days (time being of the essence in this provision) fail fully and entirely to remedy such default or breach, then a notice in writing may be served on Grantee by Grantor, notifying Grantee that Grantor elects that the title to the whole of the conveyed premises shall immediately and without necessity of any further action on the part of Grantor, revert to and revest in Grantor, and Grantee shall lose and forfeit all of its rights, title, and interest in and to the whole of the conveyed premises and to the improvements and fixtures thereon, and Grantor shall have the right of re-entry to the conveyed premises. In the event of reverter, Grantor shall reimburse Grantee the appraised fair market value of the improvements and fixtures thereon. When the context requires, singular nouns and pronouns include the plural. Brookglen Improvement Association By: President ATTEST: Secretary -2-