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2025.10.06 CC Packet
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2025.10.06 CC Packet
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<br />7 <br />Easement Agreement <br /> <br /> <br /> Form 704CM; Rev. 04/20/2023 <br /> <br />a limited license to enter upon the Premises to the extent necessary to undertake the actions directed by Grantor. <br />The terms of this limited license include all of Grantee's obligations under this Easement Agreement. Termination <br />will not release Grantee from any liability or obligation under this Easement Agreement, whether of indemnity or <br />otherwise, resulting from any acts, omissions or events happening prior to the date of termination, or, if later, the <br />date when Grantee's Improvements are removed and th e Premises are restored to the condition that existed as <br />of the Effective Date. If Grantee fails to surrender the Premises to Grantor upon any termination of the Easement, <br />all liabilities and obligations of Grantee hereunder shall continue in effect until the Premises are surrendered. <br /> <br />Section 10 Liens. Grantee shall promptly pay and discharge any and all liens arising out of any construction, <br />alterations or repairs done, suffered or permitted to be done by Grantee on the Premises or attributable to Taxes <br />that are the responsibility of Grantee pursuan t to Section 6. Grantor is hereby authorized to post any notices or <br />take any other action upon or with respect to the Premises that is or may be permitted by Law to prevent the <br />attachment of any such liens to any portion of the Premises; provided, however, that failure of Grantor to take any <br />such action shall not relieve Grantee of any obligation or liability under this Section 10 or any other section of this <br />Easement Agreement. <br /> <br />Section 11 Tax Exchange. Grantor may assign its rights (but not its obligations) under this Easement <br />Agreement to Goldfinch Exchange Company LLC, an exchange intermediary, in order for Grantor to effect an <br />exchange under Section 1031 of the Internal Revenue Code. In such event , Grantor shall provide Grantee with <br />a Notice of Assignment, attached as Exhibit C, and Grantee shall execute an acknowledgement of receipt of such <br />notice. <br /> <br />Section 12 Notices. Any notice required or permitted to be given hereunder by one party to the other shall <br />be delivered in the manner set forth in the C&M Agreement. Notices to Grantor under this Easement shall be <br />delivered to the following address: BNSF Railway Company , Real Estate Department, 2650 Lou Menk Drive, <br />AOB-2 Ft. Worth, TX 76131, Attn: Permits, or such other address as Grantor may from time to time direct by <br />notice to Grantee. <br /> <br />Section 13 Recordation. It is understood and agreed that this Easement Agreement shall not be in <br />recordable form and shall not be placed on public record and any such recording shall be a breach of this <br />Easement Agreement. Grantor and Grantee shall execute a Memorandum of Easement in the form attached <br />hereto as Exhibit "B" (the "Memorandum of Easement") subject to changes required, if any, to conform such <br />form to local recording requirements. The Memorandum of Easement shall be recorded in the real esta te records <br />in the county where the Premises are located. If a Memorandum of Easement is not executed by the parties and <br />recorded as described above within 30 days of the Effective Date, Grantor shall have the right to terminate this <br />Easement Agreement upon notice to Grantee. <br /> <br />Section 14 Miscellaneous. <br /> <br /> 14.1 All questions concerning the interpretation or application of provisions of this Easement <br />Agreement shall be decided according to the substantive Laws of the State of [Texas] without regard to conflicts <br />of law provisions. <br /> <br /> 14.2 In the event that Grantee consists of two or more parties, all the covenants and agreements of <br />Grantee herein contained shall be the joint and several covenants and agreements of such parties. This instrument <br />and all of the terms, covenants and provisions hereof shall inure to the benefit of and be binding upon each of the <br />parties hereto and their respective legal representatives, successors and assigns and shall run with and be binding <br />upon the Premises. <br /> <br /> 14.3 If any action at law or in equity is necessary to enforce or interpret the terms of this Easement <br />Agreement, the prevailing party or parties shall be entitled to reasonable attorneys' fees, costs and necessary <br />disbursements in addition to any other relief to which such party or parties may be entitled. <br /> <br /> 14.4 If any provision of this Easement Agreement is held to be illegal, invalid or unenforceable under
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