Common use of Covenants Running with the Land Clause in Contracts

Covenants Running with the Land. During the Term, this Agreement and the covenants, reservations, and restrictions contained herein shall be deemed covenants running with the land for the benefit of the Developer and its successors, the GLO and its successors, and/or HUD and its successors and shall pass to and be binding on Developer’s heirs, assigns, and successors in title to the Property. If the Property does not include title to land but includes a leasehold interest in such land, this Agreement and the covenants, reservations, and restrictions contained herein shall bind the leasehold interest as well as the Property and shall pass to and be binding upon all heirs, assigns, and successors to such interests. Upon expiration of the Term and in accordance with the terms hereof, said covenants, reservations, and restrictions shall expire. During the Term, each contract, deed, or other instrument hereafter executed covering or conveying the Property or any portion thereof shall conclusively be held to be executed, delivered, and accepted subject to such covenants, reservations, and restrictions—regardless of whether such covenants, reservations, and restrictions are set forth in such contract, deed, or other instrument. If a portion of the Property is conveyed during the Term, all such covenants, reservations, or restrictions shall run to each portion of the Property. Developer, at its own cost and expense, shall cause this Agreement to be duly recorded, filed, re-recorded, or re-filed in the Real Property Records of the county in which the Property is located. Developer shall pay, or cause to be paid, all recording, filing, or other taxes, fees, and charges. Developer shall comply with all such statutes and regulations as may be required by law in order to establish, preserve, and protect the ability of the GLO or HUD to enforce this Agreement. IX. MISCELLANEOUS

Covenants Running with the Land. During the Term, this Agreement and the covenants, reservations, and restrictions contained herein shall be deemed covenants running with the land for the benefit of the Developer and its successors, the GLO and its successors, and/or HUD and its successors and shall pass to and be binding on Developer’s heirs, assigns, and successors in title to the Property. If the Property does not include title to land but includes a leasehold interest in such land, this Agreement and the covenants, reservations, and restrictions contained herein shall bind the leasehold interest as well as the Property and shall pass to and be binding upon all heirs, assigns, and successors to such interests. Upon expiration of the Term and in accordance with the terms hereof, said covenants, reservations, and restrictions shall expire. During the Term, each contract, deed, or other instrument hereafter executed covering or conveying the Property or any portion thereof shall conclusively be held to be executed, delivered, and accepted subject to such covenants, reservations, and restrictions—regardless of whether such covenants, reservations, and restrictions are set forth in such contract, deed, or other instrument. If a portion of the Property is conveyed during the Term, all such covenants, reservations, or restrictions shall run to each portion of the Property. Developer, at its own cost and expense, shall cause this Agreement to be duly recorded, filed, re-recorded, or re-filed in the Real Property Records of the county in which the Property is located. Developer shall pay, or cause to be paid, all recording, filing, or other taxes, fees, and charges. Developer shall comply with all such statutes and regulations as may be required by law in order to establish, preserve, and protect the ability of the GLO or HUD to enforce this Agreement. IX. MISCELLANEOUS.

Covenants Running with the Land. During the Term, this Agreement and the covenants, reservations, and restrictions contained herein shall be deemed covenants running with the land for the benefit of the Developer and its successors, successors and for the benefit of the GLO and/or HUD, and its successors, and/or HUD and its successors and shall pass to and be binding on Developer’s heirs, assigns, and successors in title to the Property. If , or if the Property does shall not include title to land land, but includes shall include a leasehold interest in such the land, this Agreement and the covenants, reservations, and restrictions contained herein shall bind the leasehold interest as well as the Property and shall pass to and be binding upon all heirs, assigns, and successors to such interests. Upon ; provided, however, that upon expiration of the Term and in accordance with the terms hereof, hereof said covenants, reservations, and restrictions shall expire. During the Term, each and every contract, deed, or other instrument hereafter executed covering or of conveying the Property or any portion thereof shall conclusively be held to be executed, delivered, and accepted subject to such covenants, reservations, and restrictions—, regardless of whether such covenants, reservations, and restrictions are set forth in such contract, deed, or other instrument. If a portion of the Property is conveyed during the Term, all of such covenants, reservations, or restrictions shall run to each portion of the Property. Developer, at its own cost and expense, shall cause this Agreement to be duly recorded, filed, recorded or filed and re-recorded, recorded or re-re- filed in the Real Property Records of the county in which the Property is located. Developer , and shall pay, pay or cause to be paid, paid all recording, filing, or other taxes, feesfees and charges, and charges. Developer shall comply with all such statutes and regulations as may be required by law in order to establish, preserve, and protect the ability of the GLO or HUD to enforce this Agreement. IX. MISCELLANEOUS.

Covenants Running with the Land. During A. Owner hereby subjects the Term, this Agreement and Home to the covenants, reservations, covenants and restrictions contained set forth in this Agreement. Owner hereby declares its express intent that the covenants and restrictions set forth herein shall be deemed covenants running with the land for the benefit of the Developer and its successors, the GLO and its successors, and/or HUD and its successors and shall pass to and be binding on Developer’s heirs, assigns, and successors in title to the Property. If the Property does not include title to land but includes a leasehold interest in such land, this Agreement and the covenants, reservations, and restrictions contained herein shall bind the leasehold interest as well as the Property perpetuity and shall pass to and be binding upon all heirs, assigns, parties having any interest in the Home throughout the term of this Agreement set forth in Section 21. Each and successors to such interests. Upon expiration of the Term and in accordance with the terms hereof, said covenants, reservations, and restrictions shall expire. During the Term, each every contract, deed, lease or other instrument hereafter executed covering covering, conveying or conveying otherwise transferring the Property Home or any portion thereof interest therein, as the case may be, shall conclusively be held to be have been executed, delivered, delivered and accepted subject to such covenants, reservations, and restrictions—this Agreement regardless of whether the other party or parties to such covenants, reservations, contract have actual knowledge of this Agreement. B. The Owner and the City hereby declare their understanding and intent that: (i) the covenants and restrictions are contained in this Agreement shall be construed as covenants running with the land pursuant to California Civil Code Section 1468 and not as conditions which might result in forfeiture of title by Owner; (ii) the burden of the covenants and restrictions set forth in such contract, deed, or other instrument. If a portion this Agreement touch and concern the Home in that the Owner's legal interest in the Home may be rendered less valuable thereby; and (iii) the benefit of the Property is conveyed during covenants and restrictions set forth in this Agreement touch and concern the Termland by enhancing and increasing the enjoyment and use of the Home by Eligible Purchasers, all the intended beneficiaries of such covenants, reservations, covenants and restrictions. C. All covenants and restrictions contained herein without regard to technical classification or designation shall be binding upon Owner for the benefit of the City and Eligible Purchasers and such covenants and restrictions shall run in favor of such parties for the entire period during which such covenants and restrictions shall be in force and effect, without regard to each portion whether the City is an owner of the Property. Developer, at its own cost any land or interest therein to which such covenants and expense, shall cause this Agreement to be duly recorded, filed, re-recorded, or re-filed in the Real Property Records of the county in which the Property is located. Developer shall pay, or cause to be paid, all recording, filing, or other taxes, fees, and charges. Developer shall comply with all such statutes and regulations as may be required by law in order to establish, preserve, and protect the ability of the GLO or HUD to enforce this Agreement. IX. MISCELLANEOUSrestrictions relate.

Covenants Running with the Land. During the Term, this This Agreement and the covenants, reservations, and restrictions contained herein shall be deemed covenants running with the land for the benefit of the Developer and its successors, the GLO and its successors, and/or HUD and its successors and shall pass to and be binding on Developer▇▇▇▇▇▇▇▇▇’s heirs, assigns, and successors in title to the Property. If the Property does not include title to land but includes a leasehold interest in such land, this Agreement and the covenants, reservations, and restrictions contained herein shall bind the leasehold interest as well as the Property and shall pass to and be binding upon all heirs, assigns, and successors to such interests. Upon expiration of the Term and in accordance with with, and satisfaction of, the terms hereof, said covenants, reservations, and restrictions shall expire. During the Term, each contract, deed, or other instrument hereafter executed covering or conveying the Property or any portion thereof shall conclusively be held to be executed, delivered, and accepted subject to such covenants, reservations, and restrictions—— regardless of whether such covenants, reservations, and restrictions are set forth in such contract, deed, or other instrument. If a portion of the Property is conveyed during the Term, all such covenants, reservations, or restrictions shall run to each portion of the Property. Developer, at its own cost and expense, shall cause this Agreement to be duly recorded, filed, re-recorded, or and re-filed as needed in the Real Property Records real property records of the county clerk for each county in which the Property Project is physically located. Developer shall pay, or cause to be paid, all recording, filing, or other taxes, fees, and charges. Developer shall comply with all such statutes and regulations as may be required by law in order to establish, preserve, and protect the ability of the GLO or HUD to enforce this Agreement. IX. MISCELLANEOUS.

Covenants Running with the Land. During All covenants contained in the Term, this Agreement and the covenants, reservations, and restrictions contained herein Loan Documents shall be deemed covenants running run with the land for the benefit of the Developer and its successors, the GLO and its successors, and/or HUD and its successors and shall pass to Property and be binding on Developer’s heirsTRUSTOR and any successor owners of the Property; provided, assignshowever, and successors that any limitation of liability contained in title this TRUST DEED or in any Loan Document, shall not inure to the benefit of any successor owner of the Property unless the prior written consent of BENEFICIARY to the transfer of Property to such owner shall have been obtained in accordance with Paragraph 17 (Transfer of Property). If the Property does not include title to land but includes a leasehold interest in such land, this Agreement and the covenants, reservations, and restrictions contained herein shall bind the leasehold interest as well as the Property and shall pass to and be binding upon all heirs, assigns, and successors to such interests. Upon expiration ownership of the Term and in accordance with the terms hereof, said covenants, reservations, and restrictions shall expire. During the Term, each contract, deed, or other instrument hereafter executed covering or conveying the Property or any portion thereof shall conclusively be held becomes vested in a person or persons other than TRUSTOR, BENEFICIARY may, without notice to be executedTRUSTOR, delivered, deal with such successor or successors in interest of TRUSTOR with reference to this TRUST DEED and accepted subject the Obligations in the same manner as with TRUSTOR without in any way releasing or discharging TRUSTOR from its obligations hereunder. By accepting title to such covenants, reservations, and restrictions—regardless of whether such covenants, reservations, and restrictions are set forth in such contract, deed, all or other instrument. If a portion of the Property is conveyed during the Term, all such covenants, reservations, or restrictions shall run to each any portion of the Property. Developer, any such successor to TRUSTOR shall be deemed to have assumed, without the need for executing further documentation, TRUSTOR'S obligations hereunder and under the other Loan Documents, and such successor shall, at its own cost the request of BENEFICIARY, execute such additional documents, certificates, affidavits, and expenseinstruments as BENEFICIARY deems necessary and appropriate to evidence such successor's assumption of TRUSTOR'S obligations hereunder and under the other Loan Documents. TRUSTOR will give immediate written notice to BENEFICIARY of any conveyance, shall cause this Agreement to be duly recorded, filed, re-recorded, transfer or re-filed in the Real Property Records change of ownership of the county Property or any portion thereof or interest therein and any transfer, whether or not prohibited, described by Paragraph 17 (Transfer of Property), but nothing in which this Paragraph shall vary or negate the Property is located. Developer shall pay, or cause to be paid, all recording, filing, or other taxes, fees, and charges. Developer shall comply with all such statutes and regulations as may be required by law in order to establish, preserve, and protect the ability effect of the GLO or HUD to enforce this Agreement. IX. MISCELLANEOUSprovisions of Paragraph 17 (Transfer of Property).

Covenants Running with the Land. During Without limiting the Termprovisions of Paragraph 3 below, the provisions of this Agreement and the covenants, reservations, and restrictions contained herein shall Declaration will be deemed to be covenants running with the land for land. The Parties hereby stipulate and agree that (a) the benefit of the Developer and its successors, the GLO and its successors, and/or HUD and its successors and shall pass to and be binding on Developer’s heirs, assigns, and successors in title to the Property. If the Property does not include title to land but includes a leasehold interest in such land, this Agreement and the covenants, reservations, and restrictions contained herein shall bind touch and concern the leasehold interest as well as the Restricted Property and shall pass to and be binding upon all heirs, assigns, and successors to such interests. Upon expiration the Benefited Property; (b) privity of estate exists by reason of the Term and in accordance with the terms hereof, said covenants, reservations, and restrictions shall expire. During the Term, each contract, deed, or other instrument hereafter executed covering or conveying the Property or any portion thereof shall conclusively be held to be executed, delivered, and accepted subject to such covenants, reservations, and restrictions—regardless of whether such covenants, reservations, and restrictions are set forth in such contract, deed, or other instrument. If a portion ownership of the Restricted Property and the Benefited Property; (c) notice of these restrictions is conveyed during the Term, all such covenants, reservations, or restrictions shall run to each portion of the Property. Developer, at its own cost and expense, shall cause given by filing this Agreement to be duly recorded, filed, re-recorded, or re-filed instrument in the Real Property Records real property records of Washoe County, Nevada, the county in which the Restricted Property is located. Developer and the Benefited Property are situated; (d) the restrictions contained herein are reasonable, their purpose being for the common benefit of the owners of the Restricted Property and the Benefited Property and their respective successors and assigns; and (e) subject to the provisions of Paragraph 3 below, the restrictions created herein and the various terms, conditions, restrictions, and agreements set forth herein shall paybe (i) covenants running with the land, or cause to be paid(ii) binding upon all owners of fee simple title, all recording, filinglessees, or other taxespersons claiming an interest to the Restricted Property or part thereof, feesfrom time to time and all those claiming by, through or under the foregoing and/or any of its or his/her heirs, successors and charges. Developer assigns and (iii) shall comply with inure to the benefit of all such statutes owners of fee simple title, lessees, or other persons claiming an interest to the Benefited Property or part thereof, from time to time and regulations as may be required by law in order to establishall those claiming by, preservethrough, or under the foregoing and/or any of its or his/her heirs, successors and protect the ability of the GLO or HUD to enforce this Agreement. IX. MISCELLANEOUSassigns.

Covenants Running with the Land. During Except as otherwise provided in Section 5 of this Restriction, Owner hereby subjects the Term, this Agreement and Property to the covenants, reservations, covenants and restrictions contained set forth in this Restriction. Owner hereby declares its express intent that the covenants and restrictions set forth herein shall be deemed covenants running with the land for the benefit of the Developer and its successors, the GLO and its successors, and/or HUD and its successors and shall pass to and be binding on Developer’s heirs, assigns, and successors in title to the Property. If the Property does not include title to land but includes a leasehold interest in such land, this Agreement and the covenants, reservations, and restrictions contained herein shall bind the leasehold interest as well as the Property and shall pass to and be binding upon all heirs, assigns, and successors to such interests. Upon expiration of parties having any interest in the Term and in accordance with the terms hereof, said covenants, reservations, and restrictions shall expire. During Property throughout the Term, each . Each and every contract, deed, lease or other instrument hereafter executed covering covering, conveying or conveying otherwise transferring the Property or an Assisted Unit or any portion thereof interest therein, as the case may be, (a "Contract") shall conclusively be held to be have been executed, delivered, delivered and accepted subject to such covenants, reservations, and restrictions—this Restriction regardless of whether the other party or parties to such covenants, reservations, Contract have actual knowledge of this Restriction. The Owner and the City hereby declare their understanding and intent that: (i) the covenants and restrictions are contained in this Restriction shall be construed as covenants running with the land pursuant to California Civil Code Section 1468 and not as conditions which might result in forfeiture of title by Owner; (ii) the burden of the covenants and restrictions set forth in such contract, deed, or other instrument. If a portion this Restriction touch and concern the Property in that the Owner's legal interest in the Property and all improvements thereon may be rendered less valuable thereby; and (iii) the benefit of the covenants and restrictions set forth in this Restriction touch and concern the land by enhancing and increasing the enjoyment and use of the Property is conveyed during and Owner Occupied Assisted Units by Eligible Persons or Families, the Termintended beneficiaries of such covenants and restrictions. All covenants and restrictions contained herein without regard to technical classification or designation shall be binding upon Owner for the benefit of the City, all the Agency and Eligible Persons and Families and such covenants, reservations, or covenants and restrictions shall run in favor of such parties for the entire period during which such covenants and restrictions shall be in force and effect, without regard to each portion whether the City or the Agency is an owner of the Property. Developer, at its own cost any land or interest therein to which such covenants and expense, shall cause this Agreement to be duly recorded, filed, re-recorded, or re-filed in the Real Property Records of the county in which the Property is located. Developer shall pay, or cause to be paid, all recording, filing, or other taxes, fees, and charges. Developer shall comply with all such statutes and regulations as may be required by law in order to establish, preserve, and protect the ability of the GLO or HUD to enforce this Agreement. IX. MISCELLANEOUSrestrictions relate.