Re: Did UPRR retain right of return
Author: Luis
Date: 09-07-2016 - 12:15
Under Article VI-Buyer's Conditions to Closing of the Purchase and Sale Agreement in Section 6.8.1 it states "(iii) an agreement approved by Buyer by which Seller transfer its retained easement for freight railroad purposes to the Short Line Operator." Therefore, Union Pacific no longer owns that freight easement it is now owned by the Santa Cruz & Monterey Bay Railway.