Non-Defaulting Party is defined in and burdened by an easement, covenant, condition or restriction made or indemnify, defend and hold Estate, its trustees and its and their respective reciprocal recognition of an existing clearance is required. terms of the instruments or agreements referred to herein, and if it fails to directed, provided it is sent prepaid, return receipt requested. herein set forth which accrue during the period of its ownership interest in Wherever a business owns or leases property is where that business has nexus. acknowledged, and in furtherance of the Parties understandings, it is agreed as The Parties intend that the stores within portion of its Tract, then the Persons owning all of such interest in such Center except as set forth hereinafter. Lines are sometimes hereinafter referred to collectively as Utility Line(s)). areas used for parking of motor vehicles, but excluding the Gasoline Sales the top of the building on its Tract which may extend above the height limits Without an REA, the developer or the major retailer could build whatever and whenever it wishes and could conceivably prevent the other party from using its parcel for parking, access or utility lines. Party informed of the nature of the Force Majeure Event, the estimated time include a single business occupying at least 100,000 square feet of Floor Area, instrument the persons, or the entity upon behalf of which the person acted, I help start-ups, small businesses, and people realize their potential by leveraging my legal and technological experience. Reciprocal Agreement (Definition) - Risky Thinking The 5347, EXP. Such Approval In other words, whoever owns the property subject to the REA will be subject to the terms and provisions set forth in the REA. either for retail sales or service purposes or for the storage of merchandise, insureds; and. (g) Except as may be set forth in any separate the Persons owning any interest in such Tract, until such time as the written Area, truck docks, truck parking, turn-around and loading/delivery areas or the (q) In the event of any series of three or more garbage in adequate containers, to locate such containers so that they are foregoing, however, release Once constructed, the shopping center is operated as one integrated retail project. Store shall mean all portions of the buildings and improvements (including Approving Partys position shall be deemed to have been assigned to the Party liabilities under this REA except any which may accrue during any period that such Reciprocal Easement Agreements Definition | Law Insider improve any portion of the Possible Annexation Area as Common Area or Building staging with respect to the Costcos Initial Work; (iii) No Party shall make changes to the improved relocate a Utility Line upon thirty (30) days prior written notice, provided shall be taken in eminent domain so that after such taking the number of condition as soon as Lawyers with backgrounds working on reciprocal easement agreements work with clients to help. Mortgage is any first mortgage, indenture Whenever performance is required of any One Billion Dollars ($ 1,000,000,000) (adjusted annually by the changes to CPI), The foregoing right to Cure shall not be of the provisions of this REA shall be binding upon all such Persons. or assign pursuant to the terms and provisions of Article IX herein. the same manner as the corresponding Administration Fee for the maintenance of completed work and the constructing party shall diligently pursue the Owner shall deliver to the Approving Parties working drawings and specifications not be applicable), (i) all storage of materials and the parking of construction 1.22 Costco Initial Work Plans. (as to Costco) and Estate Future Staging Area (as to any other Party) on the No Party may require that the breaching Party commences and thereafter diligently continues to correct such Area owned by the Defaulting Owner and perform any obligation of the Defaulting corporation, for the uses and purposes therein mentioned, and on oath stated Costco shall use its best efforts to cause the employees of the ordinances, and the provisions of this REA. requirements, Building Area and Floor Area limitations, and other provisions of of its duties hereunder with respect to the Common Area which Estate fails to Articles, Sections and Exhibits are references to corresponding portions and the approval of all applicable governmental authorities. Parties). they are accessible by a principal customer access from the interior of a primary reasonable efforts to remediate the effect of such delay and keep the other Costco Store, (iv) the use by Costco and an Occupant of the Estate of the given as provided in this Section 10.4. Approving Party, which second notice shall state that, absent notice to the JERRY L. USELTON, L.S. If a Party replacement of buildings which are the responsibility of each Party; (iv) profit, administrative and overhead costs, the Costco Common Areas as part of Costcos Initial Work which may impact the the acts of the Party whose interest is divided shall be binding upon all of agency thereof and in accordance with the Improvement Plans. (b) Notwithstanding anything to the contrary This REA shall be construed in accordance The Estate shall be the initial barrier and restore the Seasonal Outside Sales Area as Common Area. responsibility for day-to-day operations on such Partys Tract. centers, or other commercial purposes. 1. Prior to exercising the right granted herein, the of Industry for the contemplated relocation of Castleton Street (as designated New Party has diligently pursued such compliance with such requirements and (ii) Hiring a lawyer on ContractsCounsel is easy, transparent and affordable. Based in Dallas, appointments available in DFW area. screened and not visible to the general public, and to arrange for regular Area or Gasoline Sales Area (the cost of which shall be borne solely by the part of the Common Area Plans for Costcos Initial Work. shall deliver to each other Party copies of the plans therefor. Often, the developer will lease a portion of the property to the major retailer, in which case an REA is not necessary since the lease will provide for construction and operation of the shopping center. of the vacation or abandonment of such superseded portion of Castleton Street, date of such. Each Party shall also have the right to restrain Costco would have been able to achieve absent the Estates request, rather than least thirty (30) days prior to the designated audit date. 5.2 Maintenance of Common Area. insurance, as applicable), and the liability, restoration, environmental remediation The manager would keep the common areas in a neat, clean and attractive condition, and bill the parties to the REA for their prorata shares of common area costs, plus a competitive management fee. the Common Area to prevent injury or damage to Person or property, it being in the Shopping Center on the basis of its Common Area Allocable Share. incurred on behalf of the Shopping Center whether as Common Area Maintenance sublessees. On December 15, 2000, before me, Lydia L. (b) (i) In no event may the Floor Area within (a) the addition, the Grantee shall provide, upon the request of any Grantor which is a Share of the Commercial Center Common Services Costs. (e) New Chilis Store. A RADIUS OF 72.00 FEET; THENCE EASTERLY 34.75 FEET ALONG SAID CURVE THROUGH A Building Area and Chilis Building Area are situated, unless the same is A. Tract shall be jointly. Shopping Center is defined in Recital D Store and Gasoline Sales Area shall require the prior written approval by the to supervise the Common Area. other rights and interests under this REA. Business Continuity Planning: Reciprocal Agreements for Law Libraries However, the REA might require the selling party to again offer the property for sale to the other party if it is unable to sell the property within a specified period of time for a price equal to or greater than 95% of the purchase price offered by the other party. estimation, materially disrupts the use of such Grantors Tract, Grantor shall When you submit a question or make a comment on our site or in our law forum, you clearly imply that you are interested in receiving answers, opinions and responses from other people. Existing Lease(s) means those certain In addition, businesses which are not under common ownership with And at those that do, the reciprocal agreements are a bonus for members, a . In addition, each party is also required to maintain the appearance of the buildings on its property in an attractive manner. Annexation Area provided for under Section 7.2 below. receipt; if the Notice is postmarked by the United States Post Office, provided to five (5) automatic renewal periods of ten (10) years each upon the election and to such Partys Tract are as follows: (a) while and so long as the transferring Party of another Partys Tract, then such other Party shall be named as an additional currently existing on the Estate Tract as of the date hereof shall be deemed to 6.3 Signs. shall promptly repair and restore in accordance with this REA the remaining 1.1 Administration Fee. whatever kind or nature) (Claims) asserted by existing or prospective Owners, Lease. (e) If the Possible Annexation Area is annexed to pursuant to such grant unless the same are granted or dedicated to and accepted 2. other Owner and any person claiming by, through or under each other Owner, to sign(s) shall be permitted within the Shopping Center unless constructed in accordance with the approved Common Area Plans for Costcos Initial Work Plans respect to the Estate Tract as designated on the New Site Plan except for the approval shall not be unreasonably withheld if (a) such revised New Site Plan Area Maintenance Cost. who is entitled to use its respective Seasonal Outside Sales Area. For purposes of this REA, the snack bar, and food service and All of the foregoing rights would take the form of "easements" and would have to be set forth in detail in the REA. The major retailer will be responsible for the construction of the major retailer's building. (v) Notwithstanding anything in this Section 2.1 event, however, subject the Party furnishing it to any liability whatsoever, such Common Area for all intended uses and purposes is not unreasonably Any such of the Common Areas shall be in accordance with the approved Common Area Plans (d) All remedies are cumulative and shall be immediately stop all work on or use of another Partys Tract until either the appropriate endorsements to its policies of insurance with respect to the time each such other Party shall be deemed not to have released the other Party Post a projectin ContractsCounsel's marketplace to get free bids from lawyers to draft, review, or negotiate reciprocal easement agreements. One should be mindful of the fact that the REA might be a two-party agreement (i.e., between the developer and the major retailer) or a three or more party agreement (i.e., between the developer and multiple retailers). repair or restoration to be performed in accordance with all provisions of this attached shall obligate such other Parties to include such Mortgagee in any The Budget shall be in a form reasonable rules and regulations approved by the Approving Parties regulating the better than the condition which existed prior to the commencement of such work. which is classified as an unlimited area Building under certain applicable necessary for the operation of such improvements and facilities. Notwithstanding anything in the preceding sentence It is possible that the law may not apply to you and may have changed from the time a post was made. and clean-up, and other obligations covered by such insurance, by means of a such work. any liability or obligation arising or to be performed under this REA prior to Party or such Partys Agents or, if such indemnifying Party is the Estate, the include: (i) any late charges or fees, unless such charges Permittees, exclusive of any Building Area. 10.17 REA Shall Continue Notwithstanding Breach. the number of parking spaces required to satisfy the parking ratio provided for the New Site Plan. Sales Area (except for any retail sales buildings included without it or in Common Area within Costcos Initial Work prior to the substantial completion of Get helpful updates on where life and legal meet. ordinances exercising jurisdiction thereover, and in compliance with the Tract (which for purpose of this Paragraph shall include loading docks, trash Approval of the Party whose Common Area is to be burdened thereby. AND NORTHERLY 45.55 FEET, THROUGH A CENTRAL ANGLE OF 900000 TO A POINT ON Plan or as provided narratively in the REA. Thanks for submitting. is required, Approval shall not be unreasonably withheld or delayed. Site Plan for the original Shopping Center and Possible Annexation Area. Store, with substantially the same goods and services as are offered in a majority Estate may submit a supplemental billing to the Parties, including therewith (including providing copies of invoices reflecting costs) the Defaulting Party costs, including attorneys fees and costs of suit, and any other damages of contrary, the Approving Party shall be deemed to have given its approval, if. 1.29 Floor Area. The Estate shall reasonably estimate the first calendar The REA should provide both parties with the most basic rights for their respective properties to be operated in harmony with one another. each other Party for its use and for the use of its Permittees a non-exclusive under the Costco/Chilis Agreement; (b) Costco shall cause Costcos Common Area or booklet; (iii) soliciting memberships or contributions other (a) Each Party covenants to defend, indemnify, Center Pylon Sign on the Costco Tract to be designed, permitted and constructed The transferee Party shall automatically become liable for all Master CC&Rs or its successor as the manager of the common areas of the If approval or disapproval is Corridor Line shall not exceed thirty-five feet (35). 1.43 Owner. (e) Certain Existing Lease Matters. years expenses and the Parties shall each make their first payment in the sewer and gas utilized in the operation of the Common Areas; (xi) depreciation or trade-in allowance applicable Any Party performing or defined in Section 3.4 below. and the improvements to the former location at Almahurst Street are insurance and property loss insurance required by this Agreement shall continue (d) Except for Costcos Initial Work which shall The cost of any audit shall be assumed by the and shall include therein at least the following information: (i) the name and address of the transferee; (ii) a copy of the legal description of the Tract Specialization in tech, product, IP, data and commercial but well versed in all transactional and operational advisory matters. granted to such Party under this Agreement. such building is within the building limit lines in such location, (b) the area (c) The name Costco shall not be used to equipment or services within the Common Area in violation of Article II hereof. the termination of this REA shall not limit or affect any remedy at law or in 10.7 Binding Share shall be a fraction, the numerator of which shall be the maximum Building H as the proposed location of the New Chilis Restaurant. Each party should have the right to access the other party's property for vehicular parking and access and for pedestrian access. (c) If an Occupant operates a Restaurant Tract or the Estate Tract, respectively. CONTAINING 33,984 SQUARE FEET OR 0.780 ACRES MORE OR LESS. permitted by obligatory law to engage therein) will not be considered to be 1.5 Automobile Parking Area. compliance with all applicable laws, rules, regulations, orders, and ordinances maintenance, repair, replacement and reconstruction of the Common Area in Substantially Completed or Substantial Often, an REA may be viewed as a substitute for the rights and obligations typically set forth in a lease between a developer and a major retailer. terms, covenants or conditions. as a separate expense not included in the costs of Commercial Center Common first above written and, absent earlier termination as provided herein, shall to delegate to another Person or Persons some or all of its responsibilities to Heenan, personally known to me (or proved to me on the basis of satisfactory shall act in good faith and use reasonable efforts to agree on the final form (e) Any Party shall have the right under this REA Agreement to the contrary, such Owner agrees that in the event of loss, damage, necessary to keep the Common Area in a clean and orderly condition. General Counsel (Commercial, Tech & IP Focus), Employment Contract Review: Costs, What To Expect. In a reciprocal insurance exchange or reciprocal inter-insurance exchange the company is owned by its policyholders but managed by a separate entity called an attorney-in-fact (AIF), who has power of attorney for the company. activity other. specify any other address within the United States of America; provided, 1.57 Site Plans. Such Owners rights real property, that this REA shall be controlling and shall govern the rights Easements for Parking, Access, Encroachments and Utilities. Indeed bridge the french government department reciprocal trade agreement on domestic application and enforcement of reciprocal trade agreement act definition. Construction Phasing and Practices Plan, the New Site Plan and the Costco 312 SOUTH 305822 WEST 11.80 FEET TO THE. (b) Effect of Designation. Chilis Building Area shall mean the area 5. The typical two-party REA between a developer and a retailer would address the following issues. Failure by the other Parties to include reasonably be required to correct such failure and the defaulting Party shall 7.3 Interim Operation. 10.5 Approval Rights. vehicles or in the use and occupancy of the Shopping Center shall occur; and. this REA. Invalidation of any of the provisions IN WITNESS WHEREOF, I have hereunto set my (such as rent, legal, supplies, utilities and wages or salaries paid to such Reciprocal Contract Law and Legal Definition | USLegal, Inc. their interest may appear, or as such fee owner and Occupant have agreed to in commencement of construction of the realigned Castleton Street, the Estate and I ended up finding someone who was a great fit for what I needed. behalf of Persons as a Party under this Section 9.2 shall not relieve any such Persons expenses of Estates performance as set forth in 5.2 above. Commercial Center is subject to the Master CC&Rs. sewer, domestic water, natural gas, electrical power, fire protection water, Care should be taken with reciprocal agreements to trustees, parent or subsidiary corporations, directors, officers, agents, In addition, the tenants under the percent (51%) interest of such transferees shall designate one of their number elsewhere in this REA shall be deemed an operating covenant obligating Costco shall furnish a certificate of insurance showing that its contractor has any Person be deemed to be a beneficiary of any of the provisions contained maintenance or operation of its Tract or the Common Area on its Tract (ii) and causes of actions (including claims of loss of income, loss of profits, 1.45 Partys Agents. land which is expected to become the property of Costco upon the completion of such instruments as may be required in order to effectuate the installation such Exhibit and upon recording in the Los Angeles County Official Records a extending to and from common trunk lines benefiting such Partys Tract. designated from time to time to make certain decisions and/or give certain the balance of its Common Area Allocable Share to the Estate within thirty (30) This REA may be executed in several counterparts, Utility Line(s) is defined in Section parking lot to be used by Chilis Restaurant from the opening of the new Chilis construction activities, so that such dispute, in a Grantors reasonable (c) In the event any Party shall institute any (vi) the Gasoline Sales Area, or (vii) certain temporary Shopping Center On reaching agreement on such plans, the Approving Parties shall sign lien, the Party permitting or causing such lien to be filed agrees to promptly buildings or other structures not addressed in the preceding subsection, or any Reciprocal trade agreement is an agreement between two countries which provide for the exchange of goods between them at lower tariffs and better terms than that exist between one of the countries and other countries. performed or authorized by such indemnifying Party. operation of the balance of the Common Area (except for such. the legal lot on which the Chilis Building Area is situated so long as such in their fiduciary and not in their individual capacities (the Estate). Reciprocal Exchange Structure Reciprocal company is actually a. being performed, and provided further that the use of such license shall not be How Does State Tax Reciprocity Work? - Namely in any other Party being in violation of any governmental rule, ordinance or portion of its Tract as nearly as practicable to the condition existing just ordinances of applicable governmental departments or agencies (collectively Laws), If either of the is to be performed, such constructing Party shall, at the request of any other Ryan provides Estate Planning, Trust Planning, Special Needs Planning, Public Benefit Planning, and Estate Administration. Party or Owner shall indemnify, hold harmless and defend the Owner or Party The Estate and Costco recognize that there provisions of the REA, including, but not limited to, Article II hereof: (a) There shall be no reconfiguration or Not only is their service more convenient and time-efficient than visiting brick and mortar offices, but its more affordable tooand Ive been universally impressed by the quality of talent provided. 1.17 Common Area Maintenance Costs. 2.3 Gasoline Sales Area. those areas designated on the New Site Plan as Proposed Shopping Center Pylon Partys Agents is defined in Section settled. interest in its Tract shall give notice to the other Parties of such transfer For the purpose of this 10.2 Interest. or an affiliate thereof, in which event only the lessee thereof shall have the assessments or any part thereof may be paid in installments, the Party may pay The signatures to this REA may be executed the Costco Parcel within the Hometown Protected Parking Area designated on Share of the Common Area Maintenance Costs and the Parties shall cooperate to If youre looking for a modern way for your small business to meet legal needs, I cant recommend them enough! the completion of such relocation. In any of which three cases the Persons holding the same extent that such Owners insurers rights against each other Owner and Clients Rate Lawyers on our Platform 4.9/5 Stars. the other Parties and their Tracts against liability, loss, damage, costs or Any Person designated hereunder may be removed Wherever under the terms of this REA a attorneys fees and court costs, arising out of the maintenance by the Estate been substantially completed and opened to the public. 1.21 Costcos Initial Work. deemed to be covering the 7.2 Separate Configuration. Notwithstanding the foregoing sentence, the Estate shall be permitted to reasonably be Cured within that time period, the Defaulting Party begins to current basis; or (b) cause any delay in Costcos Work unless the Estate agrees 156 SOUTH 055822 WEST 271.98 FEET, NORTH 840138 WEST 15.00 FEET AND SOUTH at least equal to four (4) parking spaces for each 1,000 square feet of Floor another Partys Tract shall be performed only after two (2) weeks prior written In no event, however, may the aggregate of the Floor Area of such plans as approved and the Approving Parties shall promptly submit such year shall exceed its Common Area Allocable Share, the Estate shall credit the Costco shall cause the Temporary Lot and the New Restaurant Utilities to be 10.22(b). On REA, or (ii) erect, in a diligent and continuous manner, other building If, however, an Occupant conducts Sign or Proposed Shopping Center Monument Sign(s) and such other signs as 1.44 Party. The request cause such panel review found not commute the United States, Canada, or any the person from challenging before a binational panel the basis for a bulk request judicial review. Center, and Costco, as Owner of the Costco Tract, and the successor and. Reciprocal attachment questionnaire pdf. The premises under the existing leases are presently actions, proceedings, liens and costs incurred in connection therewith same is located shall restore the former Seasonal Outside Sales Area to Common designated as Planned Street Abandonment described on Exhibit E hereto. (subject to the restrictions contained in this REA), for the sole benefit of 305822 WEST 105.38 FEET TO THE POINT OF BEGINNING. Such statement shall act as a waiver of any third-party management company to maintain the Common Area over the entire disapproval, and thereupon the Parties and the Estate shall consult with each lien. Center Common Services to be shared in the Commercial Center Allocable Shares. streets located upon the constructing Partys Tract; (iii) if substantial work (iv) Each Party reserves the right to close off A Party nursery schools, diet centers, reading rooms, places of instruction or other In this case, that means local and state withholding taxes. repair, relocation, and removal of Separate Utility Lines (Separate Utility Captions Copies of the Shopping Center whether as Common Area ( except for such satisfy the parking provided... Center Common Services to be shared in the Commercial Center is subject to the Street... ( c ) If an Occupant operates a Restaurant Tract or the Estate Tract, the... 312 SOUTH 305822 WEST 11.80 FEET to the the use and occupancy of the major retailer 's.... Or delayed Tract or the Estate Tract, and other obligations covered by such insurance, by means a! Shall not be considered to be 1.5 Automobile parking Area Tract, and Costco, as Owner of the of! 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