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<br /> or any port of the Property shall include the legend "An Open Occk : i ; • r: cy 7
<br /> Building " in type or lettering of cosi ! ), legible size and design . The work
<br /> •
<br /> " Project " or " Devcloprncnt " may be substituted far the work " Building " where
<br /> QSrcums1onces require such substitution .
<br /> . ►J©
<br /> ( D . Comply with the regulations issued by the Secretary of tlou , ino clod
<br /> •
<br /> Urban Development set forth in 37 FR 22732 -3 and all applicable rules and orders
<br /> fl issued thereunder which prohibit the use of lead - based paint in residential structures
<br /> + undergoing Federally -assisted construction or rehabilitation end require the elimination
<br /> of fend--based point . hazards .
<br /> , •14)'' . .1 ,.' SECTION X . COVENANTS . BINDING UPOINI SUCCESSORS IN II� i EREST :
<br /> PERIOD OF DURATION .
<br /> .1.:: It is intended and agreed , and the Deed shall so expressly provide , that the
<br /> covenants provided in Sections VII , IX , XI and XII shall be covenants running
<br /> with the land binding to the fullest extent permitted by kw and equity for the1 .benefit and in favor of , and enforceable by , the Seller , its successors and o: _ sit:? ns
<br /> 4, the City and any successor in interest to the Property , or any part thereof , and
<br /> theowner of any other land ( or of any interest in
<br /> such land) in the Project Ascot
<br /> which is subject to the land use requirements and restrictions of the Urban Renewal
<br /> I? ion , and the United States ( in the case of the covenant provided in subsection
<br /> B . of Section ! X , against the Purchaser , its successors end cssions , and every
<br /> successor in interest to the Property or any part t }rereof or any interest therein , and
<br /> any party in faessession or occupancy of the Property or any part thereof . It isfurther
<br /> xv
<br /> intended and agreed that the covenant provided in st: bsectior: A of Section IX shat }
<br /> remain in effect vrithout limitation as to time . The terms " uses specified in the
<br /> Urban Renewal pion " and " land use " referring to provisions of the Urban Renewal
<br /> Plan , orsimilar language , in this Agreement shall include t , e land and ell building ,
<br /> housing , end other requirements oc
<br /> r restrictions of the Urnn Renewal Plan fuer : cinina
<br /> to such lana .
<br /> SECTION Xi . PROHIBITION AGAINST TRANSFER OR PROPERTY .
<br /> The Purchaser has not made or created rind ( except os r r •rit ed by section
<br /> x ,
<br /> Xii ) will not , prior to the completion of the improvements es certified by the Seller ,
<br /> rsale ossianment conveyance or transfer in , any ..',14.1•%,,,4
<br /> make or suffer to be mode any , � • 4
<br /> car c z � partthereof
<br /> y , � r
<br /> atner fern of or with respect to this � c : eer- ent o ; Fr2
<br /> or clay interest t }rerern , or contract act or r c, rr e to cc c , n of lh [ ... crime , v. ithcut the
<br /> ti for vr , rtlen c : orovCl of the Seiler . , fir '
<br /> Sf• • IN NH . UMUAll ._. N , UPON 1". NN! C_ t- , , , ., . . '"> NCE or i ' .ROPERiY . p .
<br /> •
<br /> cTi ., �
<br /> � �z °
<br /> Prior to the cr ;apleticn of the icnp; cvc. r. c ;, ts as c _ tified bay i } rc- Seller , '
<br /> neither t •ie Pur chimer nor any succc sof in in erest to t ' : e Pt one ,
<br /> ty : 1 •1; 11 c ace tc
<br /> in any financing or any other , , .: . ax. ction erea ; r g env rr _, - t e `: , 01 Esther ui
<br /> enc: umbtance or lien upon the Property , v: hcther by c. \ prLs r ; ro or Cropc- rct ; on
<br /> 1
<br /> + arch to the [' toper ;
<br /> of low , or suffer any encumbrance or lien to be code on ory ,
<br /> except for the purposes only of obtaining : ,
<br /> A . Funds only to the Extent necessary for . .. . r. i ip the gra= c merits .
<br /> B . Such additional funds , if any , in on amount not to e , cccc ilia re ; chase
<br /> Price paid by the Purchaser to the Seller .
<br /> Until issuance of the certificate of compaction , the Purchaser ( or successor in
<br /> interest ) shall notify the Seller in advance of any financing„ secured by r, oitc.oye
<br /> or other similar lien instrument , it proposes to enter into with resixeet to the
<br /> Property , end of any encumbrance or lien that has been crt : ated or attached to the
<br /> Property , whether by voluntary act of the Purchaser or etl, erv: ise .
<br /> SECTION XIII . MORTGAGEES NOT OBLIGATED TO CONSTRUCT .
<br /> . . i atv+ it } rstnnciing any of the provisions of this Arrr. emrnt , including but not
<br /> t
<br /> limited to those which ore intended to he covenants ru_-; nin . • illi the I nd , the
<br /> holder of any mortgage cu , h ._ rized by this Apcement ( rn _ lc i • oily holder v }, 0
<br /> obtains title to the Property or any port thcr _ or es a r . wit of foreclosure re t ecce ewn ; s , L
<br /> l ' it : ! t \' � : . . telt Fv , itrr a � ; ci ns .,
<br /> or action hi lieu th it: of , b`ut net tnclr + c. ina (a ) on ) C 1
<br /> title to the Ptapeet >, or : uch part horn or tnrourfh sue } 1 lot , _ r Or ( 't, ) un7 0 ;ler t , ur - 4
<br /> chaser of foreclosure sale other than the } , older of the la :...: ' t ' '
<br /> obligated by the provisions of this Anccemcnt to cc ntruct Or car r lc to the cc • + structicn
<br /> of the improvements or to guarantee such construction or completion ; nor ! ! , url any
<br /> r. covenant or any other provision in the Deed be construed to so obligate such holder .
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