Covenants to Run With the Land. City and Owner hereby declare their express intent that the covenants and restrictions set forth in this Agreement shall run with the land, and shall bind all successors in title to the Property, provided, however, that on the expiration of the Term of this Agreement said covenants and restrictions shall expire. Each and every contract, deed or other instrument hereafter executed covering or conveying the Property or any portion thereof, shall be held conclusively to have been executed, delivered and accepted subject to such covenants and restrictions, regardless of whether such covenants or restrictions are set forth in such contract, deed or other instrument, unless City expressly releases such conveyed portion of the Property from the requirements of this Agreement.
Appears in 1 contract
Sources: Regulatory Agreement and Declaration of Restrictive Covenants
Covenants to Run With the Land. The City and Owner Developer hereby declare their express intent that the covenants and restrictions set forth in this Agreement shall run with the land, and shall bind all successors in title to the Property, provided, however, that on the expiration of the Term of this Agreement said covenants and restrictions shall expire. Each and every contract, deed or other instrument hereafter executed covering or conveying the Property or any portion thereof, shall be held conclusively to have been executed, delivered and accepted subject to such covenants and restrictions, regardless of whether such covenants or restrictions are set forth in such contract, deed or other instrument, unless the City expressly releases such conveyed portion of the Property from the requirements of this Agreement.
Appears in 1 contract
Sources: Affordable Housing Agreement
Covenants to Run With the Land. City The COUNTY and Owner the DEVELOPER hereby declare their express intent that the covenants and restrictions set forth in this Agreement shall run with the land, and shall bind all successors in title to the Property, provided, however, that on the expiration of the Term of this Agreement Agreement, said covenants and restrictions shall expire. Each and every contract, deed or other instrument hereafter executed covering or conveying the Property or any portion thereof, shall be held conclusively to have been executed, delivered and accepted subject to such covenants and restrictions, regardless of whether such covenants or restrictions are set forth in such contract, deed or other instrument, unless City the COUNTY expressly releases such conveyed portion of the Property from the requirements of this Agreement.
Appears in 1 contract
Sources: Regulatory Agreement
Covenants to Run With the Land. The City and the Owner hereby declare their express intent that the covenants and restrictions set forth in this Agreement shall run with the land, and shall bind all successors in title to the Property. This Agreement shall bind any successor, provided, however, that on the expiration heir or assign of the Term Owner, whether a change in interest occurs voluntarily or involuntarily, by operation of this Agreement said covenants and restrictions shall expirelaw or otherwise. Each and every contract, deed or other instrument hereafter executed covering or conveying the Property or any portion thereof, of the Property shall be held conclusively to have been executed, delivered and accepted subject to such the covenants and restrictionsrestrictions set forth in this Agreement, regardless of whether such covenants or restrictions are set forth in such contract, deed or other instrument, unless the City expressly releases such conveyed portion of the Property from the requirements of this Agreement. Upon such recordation of transfer of the Property, the former owner shall be released from this Covenant.
Appears in 1 contract
Covenants to Run With the Land. City The Authority and Owner hereby declare their express intent that the covenants and restrictions set forth in this Agreement shall run with the land, and shall bind all successors in title to the PropertyDevelopment, provided, however, that on the expiration of the Term of this Agreement said covenants and restrictions shall expire. Each and every contract, deed or other instrument hereafter executed covering or conveying the Property Development or any portion thereof, shall be held conclusively to have been executed, delivered and accepted subject to such covenants and restrictions, regardless of whether such covenants or restrictions are set forth in such contract, deed or other instrument, unless City the Authority expressly releases such conveyed portion of the Property Development from the requirements of this Agreement.
Appears in 1 contract
Sources: Regulatory Agreement and Declaration of Restrictive Covenants
Covenants to Run With the Land. The City and Owner the Developer hereby declare their express intent that the covenants and restrictions set forth in this Agreement shall run with the land, and shall bind all successors in title to the Property, provided, however, that on the expiration of the Agreement Term of this Agreement said covenants and restrictions shall expire. Each and every contract, deed or other instrument hereafter executed covering or conveying the Property or any portion thereof, thereof shall be held conclusively to have been executed, delivered and accepted subject to such covenants and restrictions, regardless of whether such covenants or restrictions are set forth in such contract, deed or other instrument, unless the City expressly releases such conveyed portion of the Property from the requirements of this Agreement.
Appears in 1 contract
Sources: Affordable Housing Density Bonus Regulatory Agreement