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CC PACKET 11222016
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CC PACKET 11222016
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11/21/2016 7:37:10 AM
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which such consent shall not be unreasonably withheld, delayed, or conditioned , improve, light, <br />enlarge, reduce, repair or replace the Shopping Center Sign in accordance with Governmental <br />Regulations. Each Owner or Occupant having a sign panel on the Shopping Center Sign shall be <br />responsible for its share of all costs to maintain, repair or replace the Shopping Center Sign, <br />including related landscaping, illumination and irrigation, if any, based on a fraction, the <br />numerator being the sign panel area of the Owner or Occupant, and the denominator being the <br />total sign panel area on the Shopping Center Sign. The total sign panel area on the Shopping <br />Center Sign shall be calculated by adding the panel area utilized by all Owners and Occupants on <br />the sign together with the area of the space devoted to the name of the Shopping Center. Each <br />Owner or Occupant identified on the Shopping Center Sign shall maintain and repair, at its sole <br />cost and expense, its sign panel. <br />E. Easement for Party Wall. <br />(i) The southeast wall of the building located on Lot 1 and the <br />northwest wall of the building located on Lot 2 form a common wall (the “Wall”) near or along <br />the boundary line between Lots 1 and 2. The Owners of Lots 1 and 2 hereby grant to each other, <br />for the benefit of each of said Lots, and the Owners and Occupants of said Lots, a perpetual, non- <br />exclusive easement upon, over and across those portions of Lots 1 and 2 up on which the Wall <br />may encroach. <br />(ii) The Wall shall be a party wall, and the Owners of Lots 1 and 2 <br />shall have the right to use it jointly. If it becomes necessary or desirable to repair or rebuild the <br />whole or any part of the Wall, the repairing or rebuilding expense shall be borne equally by the <br />Owners of Lots 1 and 2. Any repairing or rebuilding of the Wall shall be at the same location <br />and of the same size as the original Wall or portion thereof, and of the same or similar material <br />of the same quality as that used in the original Wall. No major repair, rebuilding or change in <br />the Wall may be made by the Owner of either Parcel without the prior written consent of the <br />Owner of the other Parcel. <br />(iii) In the event of material damage or destruction of the Wall or of <br />either or both buildings sharing use of the Wall, or upon the election of the Owner of either Lot 1 <br />or 2 made by at least sixty (60) days advance written notice to the Owner of the other Lot, such <br />Owners shall cooperate with each other in the demolition of the building(s). The Owner desiring <br />to demolish its building shall pay the costs of such demolition and shall ensure, at its cost and <br />expense, any structural support work and safety precautions necessary to protect the structural <br />integrity of the Wall. Upon such demolition, the Owners of Lots 1 and 2 may either reconstruct <br />the demolished building using the Wall or may construct a detached building serving their Lot on <br />their Lot, which detached building shall be at least one foot from the common boundary line <br />between the Lots, provided that if only one building is demolished, the other Owner shall <br />continue to have an easement for the Wall to the extent of any encroachment on the Lot whose <br />building was demolished. The Owners of Lots 1 and 2 shall cooperate with each other in <br />obtaining the necessary building permits and variances, if any, as may be necessary to construct <br />such buildings consistent with the terms of this Article. <br />(iv) In the event that the Owners of Lots 1 and 2 cannot reach <br />agreement with respect to the maintenance, repair or replacement of the Wall, such disputes <br />38
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