Res 1990-076 - Laserfiche WebLink

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Agreement own or hold liens on the River Ridge property (hereinafter called the "Servient Property") subjected to the easements described in Paragraphs 2 and 7 hereof (said easements being herein collectively called the "Easements" and such persons or entities being herein called the "Prior Lienholder"). The Easements herein described are granted in substitution for Dorsett's, Ditching's and Hernandez' claimed right of access between Interstate 35 and Hernandez' property over and across a certain "9 vara easement" (herein so-called) shown on the plat of the River Ridge Subdivision. Dorsett, Ditching and Hernandez and their s~ccessors and assigns shall not assert any right to utilize the said 9 vara easement for access to their property from Interstate 35 unless and until the Prior Lienholder shall foreclose its lien on the Servient Property and the purchaser at such foreclosure sale shall attempt to deny Dorsett, Ditching and/or Hernandez access to their property over the Easements on the theory that their rights under this Agreement were subordinate to the foreclosed lien and were cut off by such foreclosure. In the event of foreclosure and attempted denial of access over the Easements by the foreclosure purchaser, Dorsett, Ditching and Hernandez shall be privileged to allege and prove whatever rights they presently have to the 9 vara easement, and nonuse of the same pursuant to this agreement shall not be a defense to such claims. Dorsett's, Ditching's and Hernandez' claims to the 9 vara easement shall be deemed to have been fully and finally released without further action on their part, upon occurrence of any of the following events: (a) Release or termination of all liens (other than,through foreclosure of the same) on the Servient Property which predate the recording date of this instrument; or (b) Execution and delivery to Hernandez, Dorsett and Ditching of an instrument, in recordable form, whereby the Prior Lienholder expressly subordinates its lien on the Servient Property to the Easements, or expressly joins in the grants of said Easements; or (c) Ratification, by a writing in recordable form, of the Easements, executed by the purchaser of the Servient Property, at foreclosure, if any, or by any successor in title of such purchaser at foreclosure. 8. Hernandez, Dorsett and Ditching each agree that they will indemnify and hold harmless the City and BMC from and against all liability for injury or damage arising out of or alleged to have arisen -4-