81005739 - Laserfiche WebLink

Browse

51-- ut~573a ~~~~ ~~:~, F States (ia the ease of the covenant provided in subdivision {b) of Section 4A1 hereof), agatiast the Redeveloper, its successors and assigns and eve ry successor in interest to the Property, or any part thereof or any interest therein, and any party in possession or occupancy of the Property or any ` part thesreof. It is further intended and agreed that the agreement and covenant provided in subdivision {a) of Section 441 hereof shall remain in eftect for-the period of time, ar until the date, specified or referred to in Section 6 of Part I hereof {at which time such agreement and covenant shall terminate) and that the agreements and covenants provided in subdivision (b} of Section 40i hereof shall retrain in effect without limi$atioa as to time: Provided, That such agreements and covenants shall - be binding on the Reedeveloper itself, each successor in interest to the Property, sad every part thereof, and each party in possession or occupancy, respectively, only for such period as such successor or party shall, have title to, or an interest in, or possession or occupancy of, the Property or part thereof. The terms "uses specified in the Urban Renewal Plan" end "land use" referring to provisions of the Urban Renewal Plan, ar aim3.lar language, in the Agreement shall include the land and all building, housing, aad other requirements or restrictions of the Urban Renewal Plan pertaining to such land. SEG. 44~. Ageaey and United Stars Rights To Enforce=. In amplification, and not in restriction af, the provisions of the preceding Section, it is intended and agreed that the Agency and its successors and assigns shah ba deemed beneficiaries oP the agreements and covenants provided is Section LA1 hereof, and the United States shall be deemed a beneficiary of the covenant provided in subdivision (b) of Section 401 hereof, both for and is their or its own right and also for the purposes of protecting the interest:# of the community and other parties, public or private, is whose favor or for whose benefit such agreements and covenants have beau provided. Such agreetnenta and covenants shall (sad the Deed shall so state} run in favor of the Agency sad the United States, for the entire period during which such agreements and covenants shall be in force anti effect, without regard to whether the Agency or the United States -has at any time beau, remains, or is sa owner of any l:aad or interest ther~inc to c7~ is favor of which such agreements and eovenants relate. The Ageasy shall have the right, in the event of nay breach of any such a8reea~ent ter c:~vet, and the Uhited Stags shall have the right in the avant of any breach of the ~~t provided in subdivision (b) of Section 441 :`~reof, to exercisr all the ruts sad remedies, and to maintain any action car suits at law or iu equity or other proper proceedings to enforce the curing oT swcB> breach ©f igree>~ent ar eovenaat, to which it or any other beneficiaries of such agrsemtDt or corenaat rosy be entitled. ARTI~.S V. PROH1'~IITIONS AGAINST ASSIGNMENT AND TRANSFER SEC. 501. Representations As to Redevelopment. The Redeveloper represegts and agrees that Sts pirc-hose of the Property, and its other undertakings pursuant to the Agreement, are, and will be used,~for the - 7 -