18.1  Fixtures

As between the State and Project Co, all things affixed to the Project Area (Fixtures) will be:

(a)  owned by the State (other than the Returned Assets which will be owned by the owner of that part of the Project Area to which the Returned Assets are affixed); and

(b)  free from any Encumbrance (other than a Permitted Encumbrance),

from the time they are affixed.