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NOW, THEREFORE, for valuable consideration, the sufficiency of which is hereby <br /> acknowledged, Owner hereby covenants, grants, gifts, quit claims and conveys to the City the <br /> right to restrict, and Owner hereby agrees to restrict, limit and preclude the ownership, use, <br /> improvement and development of the Properties according to and under the conditions and <br /> covenants herein contained, as follows: <br /> 1. The City and Owner agree that the Properties shall henceforth be contained in common <br /> use and ownership even if recorded as a separate lot or parcel, and that the Properties will <br /> not be conveyed, sold, leased or otherwise encumbered except together as if they were a <br /> single parcel. <br /> 2. The City shall not issue any building permits, variances, or conditional use permits for <br /> any structure or use on the Properties inconsistent with the covenants contained herein. <br /> 3. Owner hereby grants to the City the right to enter upon the Properties for the purposes of <br /> inspection and enforcement of the covenants contained herein, and to cause to be lawfully <br /> removed from the Properties, without any liability, any structures, uses, substances and <br /> natural or unnatural materials inconsistent with the covenants contained herein. <br /> 4. In addition to any other remedy the City may have, the covenants and restrictions <br /> contained herein may be enforced by injunction. Owner who is in possession of the <br /> Properties shall pay to the City all costs and expenses including attorney's fees incurred <br /> by the City in enforcing the terms if this indenture. <br /> 5. The parties may mutually agree that the terms and conditions of this indenture may be <br /> modified, amended, or extinguished and thereafter Parcel A and Parcel B may be <br /> separated. <br /> 6. Owner agrees that recording of this indenture shall not vest any property rights in the <br /> Properties and that any zoning of development authorities granted herein or hereinafter <br /> because of this indenture shall remain in effect until and unless this indenture is <br /> extinguished. The Properties shall be subject to future regulation, modification, and/or <br /> limitation by the City or other regulatory bodies in accordance with legally applicable <br /> and enforceable zoning or other ordinances of the City. <br /> 7. The City does not intend that the public should have any interest in the Properties by <br /> virtue of this indenture or otherwise, except as hereinabove set forth. <br /> 8. All provisions hereof shall run with the land and shall extend to and bind the heirs, <br /> successors, representatives, grantees or assigns of the respective parties hereto. <br /> 9. This Agreement may be executed with the use of counterpart signature pages. <br /> 2 <br />