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2025. Therefore, from and after the date hereof through and includi.ng January 29, 2025, no party may
<br /> sell or purchase, or enter a contract to sell or purchase, any condominium unit in the Property(other than
<br /> a bulk sale of the entire Property to a single owner) (collectively,the"Restrictive Covenants").
<br /> 2. In the event of the violation or breach of any of the Restrictive Covenants, each Benefited Person
<br /> shall have the right to prosecute a proceeding at law or in equity against the parly or parties who have
<br /> violated or aze attempting to violate any of the Restrictive Covenants, to enjoin or prevent them from
<br /> doing so, to cause such violation to be remedied, including without limita.tion, court costs and attorney
<br /> fees in enforcing the Restrictive Covenants. Without limiting the foregoing, any parly or parties who
<br /> now or hereafter owns or acquires fee title in or to any portion of the Properry sha11, and does hereby, to
<br /> the fullest extent permitted by law, indemnify, defend and hold each Benefited Person harmless from
<br /> and agai.nst any and a11 liabilities, damages, losses, clai.ms, causes of action, suits, demands, charges,
<br /> complaints, costs and expenses (including, without limitation, attorneys' fees and costs of litigation),
<br /> which any of the Benefited Persons may suffer, incur or be obligated to perform arising out of such
<br /> party or parties breach or failure to strictly comply with the Restrictive Covenants, including, without
<br /> limitation, all liabilities, damages, losses, claims, causes of action, suits, demands, charges, complaints,
<br /> costs and expenses arising or accruing as a result of any claims by subsequent owners of any portion of
<br /> the Properry (including owners of condominium units or owners of a cooperative, as the case may be)
<br /> relating to (a) the development, design and construction of the Property and any defects, breaches of
<br /> contract, errors, omissions, or negligence in connection therewith, or (b) any omissions,
<br /> misrepresentations or misstatements in any conversion, condominium or cooperative documents. All
<br /> remedies provided herein or at law or in equity sha11 be cumulative and not exclusive of any other
<br /> remedy at law or in equity.
<br /> 3. The Restrictive Covenants are appurtenant to and run with the Property, and shall be binding and
<br /> enforceable against all parties havi.ng any right, title or interest in the Property, and their respective
<br /> heirs, successors and assigns, and shall inure to the benefit of each Benefited Person. The Restrictive
<br /> Covenants sha11 automatically expire on January 29, 2025, provided no violation has occurred. Upon
<br /> such expiration, if requested by the then-owner of the Properiy, Grantor agrees to execute a release of
<br /> the Restrictive Covenants, in a recordable form reasonably acceptable to Grantor and such owner.
<br /> 4. Failure on the part of any Benefited Person to complain of any act or failure to act to enforce the
<br /> Restrictive Covenants irrespective of how long such failure continues shall not constitute a waiver by
<br /> any of the Benefited Persons of the right to strictly enforce any violation of the Restrictive Covenants.
<br /> Notwithstandi.ng any provision hereof to the contrary, Grantor, in its sole discretion, may elect to waive,
<br /> modify, amend, or terminate any or all of the Restrictive Covenants; provided, however, that, no such
<br /> waiver, modification, amendment or termination shall be effective unless the same is set forth in a
<br /> writing executed by Grrantor specifically waiving the Restrictive Covenants or portion thereof at issue
<br /> and such writing is filed with the County Recorder for the county in which the Properry is located.
<br /> 5. If any term, covenant, condition or provision of the Restrictive Covenants, or the application
<br /> thereof to any person, entity or circumstance, shall ever be held to be invalid or unenforceable, then in
<br /> each such event the remainder of the Restrictive Covenants or the application of such term, covenant,
<br /> condition or provision to any other person or any other circumstance (other than those as to which it
<br /> shall be invalid or unenforceable) shall not be thereby affected, and each term, covenant, condition and
<br /> provision hereof shall remain valid and enforceable to the fullest extent pernutted by law.
<br /> 6. Natwithstanding anything to contrary contained herein,no expiration of the restrictive covenants
<br /> and no eazlier termination of the restrictive covenants shall be deemed to waive or release any party
<br /> from any prior breach of the Restrictive Covenants.
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