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available to the City to pursue in the event that there is a breach or default under this <br /> Contract. No waiver by City of any breach or default under this Contract shall be <br /> deemed to be a waiver of any other subsequent breach thereof or default hereunder. <br /> 8. Bindinq Effect of Contract. The Owner(s) hereby subjects the Historic <br /> Property described in Exhibit "A" hereto to the covenants, reservations and restrictions <br /> as set forth in this Contract. City and Owner(s) hereby declare their specific intent that <br /> the covenants, reservations and restrictions as set forth herein shall be deemed <br /> covenants running with the land and shall pass to and be binding upon the Owner's <br /> successors and assigns in title or interest to the Historic Property. Each and every <br /> contract, deed or other instrument hereinafter executed, covering or conveying the <br /> Historic Property, or any portion thereof, shall conclusively be held to have been <br /> executed, delivered and accepted subject to the covenants, reservations, and <br /> restrictions expressed in this Contract regardless of whether such covenants, <br /> reservations, and restrictions are set forth in such contract, deed or other instrument. <br /> City and Owner(s) hereby declare their understanding and intent that the burden <br /> of the covenants, reservations and restrictions set forth herein touch and concern the <br /> land in that Owner's legal interest in the Historic Property is rendered less valuable <br /> thereby. City and Owner(s) hereby further declare their understanding and intent that <br /> the benefit of such covenants, reservations and restrictions touch and concern the land <br /> by enhancing and maintaining the historic characteristics and significance of the Historic <br /> Property for the benefit of the public and Owner(s). <br /> 9. Binding On Successors In Interest. All of the Contracts, rights, covenants, <br /> reservations and restrictions contained in this Contract shall be binding upon and shall <br /> REV:09-26-14 VR <br /> ATTY/AGR.2014.194/139-143 DUANE STREET/3039 BROADWAY STREET MILLS ACT CONTRACT <br /> Page 6 of 13 <br />